Ann: Addendum to Quarterly Activity Report, page-23

I wouldnt agree with you here. There are a number of things to note.

- Online Shopping is at the start of it's boom. Check out research papers on the statistics which are very compelling. Analysts know this, hence the strong performance of e-commerce stocks.

- Amazon, the worlds largest/ second largest company are growing exponentially in Australia. And HT8 is Top Seller. Hence if Amazon grow, which they will, so will HT8.

- HT8 is diversifying. Home Appliances, Gaming, and potentially even more.

- On the contrary to your comments about electronics and consumerism, indeed people are changing hands on new products very regularly. Take a look around. Okd iphones, airpods, ipads, watches, and samsung pieces are being changed so regularly. Just as regularly as a new webcam, or a new memory bank.

- Sure, shopping activity peaked last year, but this year will peak more, specifically for e-commerce companies.

More points to add for consideration, but I respectfully disagree with your comments here.