Thanks Sean, appreciate your questions. Please see responses below;

Re; Tooling.
We deferred the supplier payment milestone, so it hadnt been reached at 30 June 2026. The company assessed that it had no present payment obligation at that date and reversed the $476,859 payable. No cash was received. We still require the tooling and will pay for it when were ready to proceed. This is one of the reasons were raising capital.

Re; Financial position.
As disclosed in Section 2.10, Clearwater had net liabilities of $173,957 at 30 June 2026 and recorded no revenue in FY2026. The accounts disclose a material uncertainty about our ability to continue as a going concern without funding. Thats why securing additional funding, through debt or equity matters. In FY2025, we recognised $642,324 in presale revenue and recorded $82,922 as a liability for unfulfilled orders. After year end, we received $100,000 through a SAFE.

Re; Funding production.
Were planning a first run of 600 units. At the $2.2m maximum raise, the offer allocates $400k to tooling and asset purchases and $900k to production. At the $220k minimum, no funds are allocated to either. If the raise falls short of what we need to start production, well move straight to Plan B which includes a combination of: Pursuing institutional investment, further presales, inventory finance and titrating the size the first manufacturing run according to the funding we secure.

Please consider the offer document, including the risks in Section 2.9, and the general CSF risk warning before applying.

Thanks, Sean. Youre buying shares in Clearwater Ice Baths Pty Ltd, the company behind SnowCap and the company we intend to make the holding company for the whole Clearwater group. Our commitment is to build every new Clearwater product and business within that company or a subsidiary it owns.

The two existing sister companies in Australia and the US sit outside Clearwater Ice Baths Pty Ltd today. The proposed restructure would bring both in as wholly owned subsidiaries. If it goes ahead and any required approvals are obtained, the shares you buy today would give you an indirect stake in both, without needing to invest again.

Thats what we mean by investing at the ground floor: youre buying into the company we intend to build the whole Clearwater business under, with SnowCap as our first product.

Thanks, Sean. Appreciate the questions.

Certification.
Over the past 30 months of prototyping, we have designed SnowCap with the toughest certification requirements in mind.
Several external engineers have reviewed the design against the requirements of the markets we plan to enter. Well start the formal testing and certification process once the raise is complete and finish it before shipping to customers. Weve budgeted $20,000 for approvals at both raise levels. The final cost and timing are still to be confirmed.

Production and existing orders.
The design is ready for tooling. We expect that to take about two months once work starts, followed by our planned first run of 600 units and then shipping. At the $2.2m maximum raise, weve budgeted $400,000 for tooling and equipment and $900,000 for production, including fulfilling existing orders. We havent confirmed a delivery date yet.

If we only raise the $220,000 minimum.
At that level, none of the raise goes towards tooling or production. Wed look to secure more funding through institutional investors, further presales and inventory finance, then size the first run to what we can afford.

Further funding. We expect the maximum raise to cover all of our plans. At $2000+ profit per unit. Our forecasting shows the business will be able to cover its own costs within the first 12 months. Note; This is a forecast and not a garuntee.

Please read the offer document, particularly Sections 2.9 and 3.2, and consider the general CSF risk warning before applying.

Thanks for the question Lachlan.

Australian pricing isnt final yet, but SnowCap wont encuonter the same tarrifs in Australia that it does in the USA which will help us price below the AUD equivalent of our US$3,990 US price.

As a guide. Well strategically price side by side, competitvely against comparable cold plunges, while offering the quieter, simpler setup without a bulky external refrigeration chiller that is the current at-market offering.

Chilling 300L to 5C from a starting temperature of 20C takes approximately 13 hours and consumes approximately 15 kWh of energy. Once it has reached its target, holding the target temperature typically consumes an average of 250-350W depending on the ambient conditions. Heating cycles are significantly faster, taking approximately hours to get to 40C from 20C initial temperature. For both modes, power consumption can be improved by using the smart scheduling feature, which ensures the tub is ready at the required times while letting the system hibernate when you aren't using it.