Ann: Appendix 4C - quarterly, page-16

As I see it there are 4 major stocks in the Hemp space

All seem to be doing very well but at the end of the day when the FOMO subsides, you have to ask yourself what is the price I am paying for revenue - it is that simple IMO - because they are all medium-term showing similar growth and they are all chasing market share in the US and all doing well - some more so with the larger chains like CVS and so on

So the 4 stocks are Charlotte's Web and CV Science in the US and EOF and EXL in Aus

The $ in local currency market capitalisation per $1 or revenue is as follows - for revenue, I use 2X last half revenue (in the case of EOF I am including the now released June Qtr numbers with March - the rest are March and Dec)

CWEB market cap $1.7Bn = $20 / $1 of revenue
CVSI Market cap $409Mill = $7.0 / $1 of revenue
EOF Market Cap $1 Bill = $23 / $1 of revenue
EXL Market Cap $566Mill = $14.6 / $1 of revenue

Good luck and may markets be kind