External broker reports(aggregated public sources), CCZ Statton Equities

CCZ Statton Equities

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External broker reports(aggregated public sources)

Equity Bottom-Up

Kip Mcgrath Education Centres / Equity Bottom-Up

<ul><li>Corporate centre strategy at inflection point and franchise business is strong</li><li>Franchise biz has multiple growth levers and revenue drops through at 80-90%</li><li>Mix shift to Corporate Centres should drive long-term earnings growth</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Corporate centre strategy at inflection point and franchise business is strongFranchise biz has multiple growth levers and revenue drops through at 80-90%Mix shift to Corporate Centres should drive long-term earnings growthContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Kip McGrath - Ooh Aah Kip McGrath – BUY (TP=A$1.85)