Ann: Preliminary Final Report-TSN.AX, page-16

Good evening all.

Here is my quick summary of the points that stood out for me...

TSI India's existing ATM networks:

* TSI India's existing ATM networks = 2052 machines (up 52 ATMs from Half Yearly Report). They still have an additional 248 ATMs to come online from the contracts won in September 2014 which will total 2300 ATMs with three major banks in India.

* Over the 'forecast period' an additional 1250 ATMs are expected to be installed across all three banks.

* Transactions per month now up 400. Previously was 3600 transactions per month, it is now 4000 transactions per month which is approximately 133 additional transactions per day.

* 4000 transactions per month x 12 months x 2052 machines = 98,496,000 transactions per year.

* Transaction volumes assumed to increase 8% YoY over the forecast period.

TSI India's new contract with Mphasis:

* Of the approximate 11,000 ATM contract, 8123 are currently active in the financial year 2017 and expected to remain active in the financial years 2018 to 2021. That means an additional 2877 ATMs are to still come online. My guesstimate is that these remaining ATMs are being assessed at sites / removed completely perhaps to new locations?

* An average of 157 transactions per day has been forecast for the financial year ended 31 March 2017. That is higher than existing fleet of TSI India's 2052 ATMs which stands at 133 transactions per day.

* 157 transactions per day x 30 days = 4710 transactions per month.

* 4710 transactions per month x 12 months x 8123 active ATMs = 459,111,960 transactions per year.

* Transaction volumes assumed to increase 8% YoY over the forecast period 2018 and 2021.

Total transactions per year (for the financial year 2017) approximately:

Forecast Goal - 98,496,000 + 459,111,960 = 557,607,960 transactions per year.

Transaction fees vary according to banks and ATM locations.

Note, this exercise of mine does not include costs associated with business. I will come to that at a later stage. Agree with Need10Bags assessment, but it's still early days as the big contract with Mphasis only started beginning of April 2016.

Tony