Ann: 1H24 Results Briefing Details, page-10

Yes I agree any spare cash is going to support the warehouse facility until then can refinance or interest rate have fallen enough where the providers are happy there is no risk with the Warehouse. However, once this happens then the spare cash has to go to Fund any expansion in growth in the loan book. The best they can do is tread water until over the medium term 2-3 years the spare cash gives them capacity to expand or they form a joint venture with a bank who will provide the funding AKA NAB find a bank like NAB and Plenti group (PLT). Results out on 28/2/24