Independent Adviser(s): Simmons Corporate Finance (Rule 18)

Company Meeting Date: 12/02/2015

As part of a proposed capital raising, Martin Aircraft Company Limited (“MAC”) entered into a conditional investment agreement whereby KuangChi Science Limited (“KCS”) (a Hong-Kong listed company) would be allotted shares in MAC.

As a result of the allotments, KCS would potentially become the holder and controller of up to 57.21% of MAC. Accordingly, MAC proposed to seek shareholder approval to the capital raising and the resulting increase to KCS’ voting control.

The Panel approved Simmons Corporate Finance to prepare a rule 18 independent adviser’s report on the merits of the allotments to KCS.

The special meeting of shareholders was scheduled to be held on 12 February 2015.