Ann: Appendix 4C - quarterly, page-33

Excuses, Excuses.... The fact is that MR S has been in charge for our Australian market for over 2 years and over a year for the US market. Even if you adjust 2016 and 2017 for the Walmart inventory adjustments at 1M each you still have lower sales ,margin and share in 2018.As for the $375 unless you have corrected the issue(s) that drove the inventory adjustment management should be accruing for potential future adjustments.