Ann: Line-item guidance and other items, page-13

Hi Oc,

which of my numbers was wrong? The one stating the YTD hedging losses through September were $500M (which they were.)

Or the one mentioning the other losses for 2021 were $811M (which they were.)

Or the statement that other losses for 2022 would be between $1B and $1.1B (which is also correct.)

Jack pointed out that through Q4 the hedging losses were 872M (thank you). It would have been better if I quoted the Q4 number... however that does not make the numbers I did correctly quote wrong.

Just your assertion that the hedging losses were in excess of $1B was wrong... which you have yet to acknowledge.

I have been the decision maker over billions of revenue dollars worth of hedging over many years in many countries... it is an expensive thing to do and hard to get right when currency changes quickly. Not sure you are being very realistic about this.

Cuppa