Ann: Change in substantial holding-ST1.AX, page-6

Snippet from TBF newsletter:

"With increasing data consumption and speed requirements by Internet users, The ADSL copper network has become almost redundant and therefore the need for fast Internet is growing exponentially. Unfortunately for consumers, the NBN was conceived almost 10 years ago when Netflix, Stan and other streaming services weren’t very popular in Australia. Therefore today, even the basic plans and speeds of the NBN are not sufficient for many household users. ST1 was voted the fastest Internet provider in Australia and can offer in some cases unmatched ultra fast speeds at competitive prices. We expect ST1 "land grab" of connecting residential and commercial building complexes to accelerate over the coming years and for the company to continue to keep consolidating a fragmented industry. We will provide further detail of our investment thesis in future investor reports."