Ann: Presentation to Macquarie Australia Conference 2019, page-16

With regards to the EBITDA statement, they referenced brought forward orders, which I figure is due to the chinese labelling arrangements. Sales velocities will naturally ebb and flow, hence they used the term "phasing". They said that "the revenue growth outlook for the second half to continue broadly in line with the first half". To me, this means that sales for the second half will not be static VS the first half, but continue to accelerate.So non issue really, as long as supply can keep pace with demand. It looks to me like the Synlait second facility, and Fonterra production will likely come into play just when we need it..

Don't you worry about the UK, or Font partnerships, we are kicking goals without it. I anticipate this ACE up our sleeve will come out when it's needed. Probably the y/e Aug results will start to tell the tale.

We are spending massively on advertising and strengthening our organisation for further growth.

Our continued ability to keep increasing market share in our foundational markets is a testimonial to where we are headed...