Ann: Veris Quarter 3 FY2020 Update, page-3

Few thoughts:

- Veris Australia has experienced several months of ‘unforeseen events” yet appears not to have acted with the announcement saying “the company will also look to reduce operational overhead…. plan underway to reduce centralised overhead costs by June”. June is less than 3 weeks away – look forward to that announcement

- Aqura – talks repeatedly at the start about impacted revenue – However it was higher than PCP. So makes little sense

- Quote from Mr Young is farcical – “We are proud to have realised strong project delivery margins” – the EBITDA is negative! Maybe some home schooling on basic maths is needed.

- Aqura has applied for Job Keeper (insert own pun) what about Veris Australia or Veris Limited??

- Presumably the formatting of the document was done by one of the staffs Kindy kids as a home schooling exercise – C+ must try harder