Ann: AGM - CEO's Address, page-21

As I've said prior the valuation is stretched at current levels, but in my opinion still ok to hold.

Yes I agree with Andredamus1 that one of the reasons for the multiple difference is NXT's more recent growth rates compared to Equinox, but also understand that NXT's growth rates over next 3 year's will be even higher again ( they've won all this work that will become revenue in 25/26 timeframes).

Amazon and Microsoft are both customers ( they use NXT as a provider), but also have their own DC's. They will never choose to just supply thru their own DC's as this is too capital intensive. NXT's competitive advantage in this region is their ability to play near the "edge ", their early land grab, etc - NXT want to be Amazon's and Microsoft's provider of choice in Australia.