Ann: Australia Supplies DroneShield Equipment to Ukraine, page-7

I am trying to keep an open mind with your posts but I am really struggling to follow your logic or understand your agenda.

You made a number of posts questioning the numbers in the Q3 report and took a conservative interpretation given that no other large orders had been announced to market. You gave a number of possible options and effectively ruled out the more favourable option due to the lack of disclosure of new larger orders. This announcement, provides absolute certainty around those numbers in the Q3 report and confirms your Option 2 which you yourself stated should lead to a re-rating upwards if that was the case. By my calculation the carry over orders for 2024 is already at about $30M.

Now with this confirmed, you frame the announcement as nothing and even put a negative spin on it. Given your preceding comments why?

I am sure you are aware that the timing of a confidential and military sensitive announcement like this will be dictated by the client (government). The financials were accurate at time of publish and the details of who and what were released following the government announcement. IMO the approach by management is as plain vanilla and standard as you get. The results are great for a number of reasons including the endorsement by the Australian government. What are we missing dude? Please enlighten us