14% market share, page-4

The share price should really be trading at $0.36-0.38 where it was 8 months ago.

Relative to that time:

1. The claims situation has improved dramatically, and on its way to zero unlike 8 months ago.
2. The RC is now over and all financial stocks have rallied strongly e.g. FID, IFL.
3. The Funds Management business has improved.
4. The strategic refresh has progressed.
5. NEOS was divested and money is being returned, with interest.
6. The adviser network has improved in quality
7. The adviser network has grown in numbers.
8. The ending of grandfathered commission was well known (by definition already grandfathered)
9. Regulatory uncertainty now removed
10. The shifting market has arguably played into CAF's business strengths.
11. see slide 37 under "AFCA"  Centrepoint has a diminishing number and value of legacy complaints. Non-legacy complaints are not significant and usually relate to lower values."

All of these are positive compared to 8 months ago when the share price was at $0.36.