Division 2.2 Each report shall:

set out, in reasonable detail:

1. (a)

   the aggregate amount of the Construction Costs to the date of the report, expressed in sterling;

2. (b)

   the aggregate amount of the Construction Costs reasonably forecast to be incurred, paid or accrued by NNBG, expressed in sterling, provided that such Construction Costs shall be limited to those Construction Costs that would be reasonably and properly incurred, paid or accrued by NNBG to satisfy regulatory requirements without incurring excessive cost or expense;

3. (c)

   NNBG's actual Construction Schedules; and

4. (d)

   NNBG's estimated Construction Schedules for any period after the date of the relevant report;

set out, in reasonable detail, evidence of the steps taken to ensure that the amount of any Construction Costs forecast to be incurred, paid or accrued by NNBG following the date of the report shall be limited to those Construction Costs that would be reasonably and properly incurred, paid or accrued by NNBG to satisfy regulatory requirements without incurring excessive cost or expense;

if the report, or any part thereof, is prepared by or with the assistance of one or more third parties, include details of those third party(ies) and copies of any reports prepared by such third party(ies); and

the consequential adjustment (if any) to the Strike Price.