Ann: Appendix 3G, page-2

Nice little release after markets close. Over $16M in performance rights!!!

Australia Post gives away 4 No $20K Carier watches for performance and the Prime Minister stands on a soap box along with a repugnant media.

Year-on-year issuing of such extravagant NST performance bonuses sees the majority continually lining BBs pockets, with the crumbs to his puppets so they back him in. This simply erodes shareholder value.

Is it just me who shakes his head when a CEO receives circa $2M in salary and then beefs himself a further ~$8M in performance rights (FY20)? You pay the big salary for the job, it is not a retainer with commissions. That's how a used-car salesman gets paid!

NST's EPS is 0.37 with a PE of 39.8.

IMO, there is only one way that NST will increase it's PE - and that is when the market crashes and returns to the fundamental of earnings - by rerating its SP. Watch this space as America will likely crash after the US elections (how can US stock markets remain at all-time highs with their world record COVID outbreaks and be on the verge of civil war?). The US will drag the ASX down with it.

POG at record highs and a weak A$ have made NST look better that they are. Both are volatile.

Do NST have a 'negative performance right policy' that executives hand the extravagant money grab back in falling markets? Of course not...when the economy ramps upward they take the kudo's, on the way down they blame the economy.