Ann: HUM 1H22 Investor Presentation, page-21

ST, separate the BNPL & Cards and Commercial businesses. LFS is buying BNPL & Cards. What profit did these divisions contribute to HUM's overall profit? You can't take overall profit and business metrics then apply these to the BNPL & Cards transaction with LFS. (Similarly you can't multiply the # of customers by the acquisition cost to value the business!)

Is this a good deal? Only time will tell. I do know that the BNPL business will be exceptionally capital intensive over the next few years in a very competitive space. Few will survive IMHO. I think it is wise to split it out and again I state, if it's such a great business where are the other suitors?

I also think we are getting out at the right time, I only hope we keep the Commercial business and only sell if there is an offer too good to refuse, and we long suffering share holders get some reward for our loyalty and patience.

Cheers, Unc