Ann: DDH1 and Perenti Scheme Implementation Agreement, page-28

Long term PRN (Ausdrill holder) here, just to give a balanced view point and lighten the room, as I know you're mostly disappointed, but honestly I think PRN is heavily undervalued.

• Revenue target $3.0B FY25
• Market Cap of only $700 million, with EBITA of $500m++++
• Previous dividends were HUGE, once 14.5c fully franked, yes its dived off, but money has been spent in a buy back instead, about 2.6% of shares and 3.8% of bonds.
• Margin 9.4% +++
• Some growth
• Net debt 566m is not too big considering current profit.
• 25 Active projects

Good luck & welcome on board!

•