Ann: First Quarter 2022 Report, page-36

Just a reminder all to off set the noise today. On yesterdays close....P/E 9.89%, dividend yield 7.5% fully franked, dividend stability 92%, improving return in equity 14.8%, improving return on capital 11%, BHP assets, good acreage, reliable long term sources of product, strong management team, seen as a more geopolitically secure company and region for customers. Just my thoughts from today. I have WPL as a hold now only because of my concerns for a possible total market correction. Also in this business timing in relation to shipments and fixed price contracts plays a role so swings in roundabouts.