Ann: NNG Quarterly Activities Report and Appendix 4C Sep-22, page-8

Heres a rough peer analysis based on SP's approx 1 month ago and FY22 results:

Happy to explain the logic if anyone is interested.

Point is that NNG's growth is in the upper end of this group and on that same trend at the end of Q1.

I cant extrapoloate SP targets for you but you can make a reasonable guess given the consistency of results amongst the peer group and assuming NNG isnt an outlier.

		YoY Growth	Cash EBITDA	P/E (Cash EBITDA)
1	FSG	128%	13.90%	17
2	FCT	16.30%	NA	NA
3	SOV	62.10%	NA	NA
4	ATA	36.90%	8.80%	16
5	ST1	31.60%	8.60%	18
6	MAQ	8.40%	8.40%	16
7	ABB	56.10%	5.96%	19
8	VIG	23.20%	10.20%	16