Ann: Quarterly Activities Report and Appendix 4C, page-28

Markets are in for a bumpy 6 to 12 months IMO. However, the healthcare space is one that should do ok. I suspect we get 12 months of costs rising a bit and interest rates might tick up, but then things will level off. EX1 has plenty cash. I am a firm advocate of the story pushed by Cathie Wood that we will see a convergence of computer science, AI and medicine/genomics etc over the next 5 to 10 years that will transform healthcare just as the internet has transformed our lives since the 90's

I fully expect good returns will be a while in coming here, but just because there is not much they can report I am extremely confident the team are working very hard in the background. This is a gem I'm not letting go of and ranks as one of my highest $ holdings