Preferred Carbon Australia Pty Ltd

This licence authorises the licensee to carry on a financial services business to:

provide general financial product advice only, for the following classes of financial products:

carbon units; and

Australian carbon credit units;

deal in a financial product by:

applying for, acquiring, varying or disposing of a financial product on behalf of another person in respect of the following classes of products:

carbon units; and

Australian carbon credit units; and

provide the following custodial or depository services:

other than investor directed portfolio services restricted to an arrangement where any or all of the financial products or a beneficial interest in any or all of the financial products referred to in paragraphs (A) & (B) below are entered in a Registry account as defined in section 4 of the Australian National Registry of Emissions Units Act ("ANREU Act") is held in the name of Preferred Carbon Australia Pty Ltd in the Australian National Registry of Emissions Units where Preferred Carbon Australia Pty Ltd complies with the ANREU Act in relation to that holding :(A) carbon units ;(B) Australian carbon credit units.

to wholesale clients.