What you need to know: • Our team got an operational and corporate update from CEO Lindsay Weatherdon last week, reaffirming our conviction in the story. • Electrafy is progressing well with conversations with potential clients including home service companies, electrical wholesalers, and residential home builders. • Braille Battery continues to execute on its plan to expand in Europe as well as into the North American Power Sports markets. Last week, we caught up with CEO Lindsay Weatherdon to get an operational and corporate update on Braille Energy Systems. We remain highly confident in the market opportunity ahead of Electrafy and believe management will execute on its strategy over the coming quarters. While Braille Battery is behind on its European and Power Sports expansions, it anticipates delivering on its growth targets in 2024. We are maintaining our BUY rating and $0.15/share target price on Braille Energy Systems. Electrafy Update Management highlighted that has been receiving strong interest on the Electrafy home backup system due to its safety, pricing, and fact that it can be installed below grade (in a basement) or in a garage. Electrafy is currently in conversations with in-home service companies to offer the product to its existing customer base across Canada and the U.S. Furthermore, the Company is also in conversations with new home builders to include the Electrafy backup system in packages offered to clients. Please refer to marketing materials for the home backup system in Figure 1 and 3 below. The next catalyst we expect from this segment is the announcement of partnerships and client orders. We remain confident in our model that assumes that Electrafy can post $6.6M in sales in FY24 (1,000+ unit sales).