Ann: 2023 Half-year Report incorporating Appendix 4D, page-22

Let me ask you this as it is one of the main drivers for my investment in WES and in turn what I think sets it apart from other investible ideas

Will JB look the same as it does now in ten years ? Will WES look the same in ten years as it does today? Here in lies the value of WES. Where does JB grow to/ pivot to - It's a pure play electrical retailer. WES is a diversified conglomerate whose management and board are always looking for the next growth opportunity no matter what the market category.

Some don't work but as long as the number of winners outpaces the losers then WES will always be one of the highest quality business on the ASX. I'd be happy to hold both companies.