Share Price weakness, page-4

FY18 has started well and we are trading in line with expectations, with pleasing year-on-year growth in solutions across both ES and SMB. • Over 2017 and 2018 we are making investments to maintain the strong growth of recent years. As a result in FY18 we expect revenue to grow in line with last year but EBITDA and profit will temporarily grow at a slower rate than recent years. • Having absorbed these investments in FY18, EBITDA and profit growth will accelerate in FY19.