Ann: 2021 Annual General Meeting, page-6

A Director seeking reelection, Ms Gai McGrath, highlighted the massive growth in SDF's trading platform between 2018 and 2021. A quick back-of-the-envelope calculation shows growth of about 300 per cent, which has to be described is incredible. She emphasised how SDF's client base is largely small and medium enterprises, and how SDF's brokers' services have never been needed more than now, given these businesses would never have envisaged having to deal with COVID-19 and its numerous unprecedented challenges.

In relation to Coverforce's integration (a $411 million investment), SDF has previously done more than 110 acquisitions. Some have been frustrating but Coverforce isn't one of those. Mr Kelly said Coverforce has an 'amazingly strong operating structure'. Recently SDF has spent an afternoon and evening with Coverforce ticking off the synergies. It's perfectly aligned.

Mr O'Halloran said that Coverforce gave SDF insight into new ways of undertaking tasks. He implied it has been quite simple to amalgamate.

CEO succession planning is being addressed even though Mr Robert Kelly is as busy as ever. There are 'emergency plans in place that we don't want to happen' but it also has an outstanding team.

Mr Kelly said that COVID-19 has been 'a bit of an epiphany for business plus a wake-up call (re costs) as some of the expenses businesses have had won't come back, although travel will resume.' For SDF, there is a realignment as to whether it needs to spend some money.

A holder asked about refreshing the Board. SDF needs to find people who can enter and carry on the great work, with a new Director to be brought in over the next few months, but renewal will take three years. New Directors must have the opportunity to learn from (existing Directors).

Overall, very positive. The increase in gross written premiums ought continue I suspect.