Result. Our financial performance, as well as our strategy moving forward. Presenting today is not only myself, but also my Group Chief Financial Officer, Matthew Green. We can move to the next slide, please, Jess. We are actually in Sydney presenting today. The control of the slide deck is actually back in Perth. As I go through the presentation, you will hear me say, "Next" from time to time. That is just controlling the slide deck as we move forward. We will just go to the next one. Thank you, Jess. The opening key messages, as everybody can read, we have had a really good year. We have delivered record financial results. In fact, it has been a record company strategically, operationally and financially. In FY 2026, we have reached sales of AUD 165 million. We acquired the Hardware & Building Traders company for an AUD 22 million purchase, and that was Australia's largest independently owned, privately owned buying group across hardware, industrial, and now in safety. We have created a market-leading independent distribution ecosystem across both platforms of hardware, home improvement, building, industrial and safety. We are now the third force in our markets behind Bunnings and Blackwoods. Second involved with Metcash Group and now ourselves with a 1.4% market share. The largest holder is 22% market share being Bunnings, followed by Metcash, about 3.7%. Our objective is to be number two force in the market, and we are obviously number one, as I mentioned earlier, from an independent distribution perspective. We have materially expanded our group scale. We will walk you through that and explain exactly what that has created for us on the back of the acquisition, but the integration aspects that have occurred in the last 8 months. We identified early on that there is AUD 400 million of new annual revenue opportunity in the existing ecosystem that we can convert into revenue. Therefore, we have obviously got an upgrade of our guidance target, which I will walk you through shortly. At the back of the acquisition process, we also had the opportunity to not only strengthen our balance sheet, but interest from institutional investor base, which raised AUD 19.5 million. It was selective to show that not only we increased the strength of our institutional investors, but also to create a platform for growth for the future and as other opportunities presented itself. Lastly, if I can just also mention that our market capitalization more than doubled, and that has been a really pleasing result. In fact, over the last two years, our share price has moved from AUD 0.21 to about AUD 1.30-ish today. So that has been really pleasing, driven by the results and the events that I have just mentioned earlier. FY 2027 has started really strongly. We have secured AUD 100 million worth of new sales or revenue that will commence over the course of the next six months, and that will have an annual run rate of AUD 100 million. But obviously a part contribution to the FY 2027 numbers. That now takes our company, once all that has fully commenced, to an annual sales run rate of AUD 265 million, and a revenue line that is around about AUD 225 million. Therefore, material uplift in the first seven months of FY 2027. We also, as part of that runway, have another AUD 130 million of new sales and revenue that we are working on today that is in negotiation discussions and planning for that to commence in the second half of FY 2027. A significant contribution obviously to FY 2028, but importantly, some contribution that will come forward into FY 2027. Ultimately, great transformational year. Great start to FY 2027. Our guidance towards FY 2028 remains unchanged, and we are obviously within reach of progressing that number with a host of new opportunities that continue to present itself. Thanks, Jess. Our numbers on FY 2026. We can just go back in the coming slides and give you an overview of the 2026 year. As I mentioned, we have achieved the sales level of 165. Our EBITDA pleasingly is 8.7%. Margin AUD 14.4 million. Our NPAT increased by 86%. Our EPS has increased by 56%. We obviously are very strong from a cash point of view with AUD 32 million in the bank with a low net debt over EBITDA. Pleasingly, really good numbers that sit behind the business as a terrific foundation for us to be able to move forward on. Those results obviously supported by organic and inorganic growth. Our industrial and safety division, which particularly serves B2B commercial customers, businesses and organizations from large multinationals down to local workshops, performed really strongly, and that continues to have resilient demand. In fact, that business, which we acquired in 2018, Heatleys Safety & Industrial has a 36-year trading history of resilience in the markets that it has because of the products, and also end markets that it serves. We invested, obviously, in the HBT or Hardware & Building Traders platform that we acquired. That was through the integration of synergies and also making sure that as we headed into FY 2027 and FY 2028, the next phase of growth, the platform was available to be able to ignite those sales that we mentioned earlier in terms of our growth projections. Our consumer retail business, which essentially sells mobile phone technology, accessories, screen protection, audio power, et cetera, through major chains, JB Hi-Fi, Officeworks, Coles, 7-Eleven, Harvey Norman, Retravision, et cetera. That in the quarter four of 2026 declined, predominantly because one major customer decided to do a full range review. In the categories that we supply, we were previously providing three of 14 categories. Sorry, three of 14 brands. As we move into FY 2027, we were able, in that range review, to secure six of seven brands that they will now hold within their stores and online. Therefore, what that does is materially changes not only the numbers that was impacted in Q4 that materially benefits FY 2027. In addition to that, we won two new brand distribution rights, which kicked off from July 1, and therefore, collectively, we are looking at a 20% growth in FY 2027 on that business. It is just a period of time. Like any organization, particularly in distribution, we are always looking around productivity, efficiency, and from a digital perspective, automation. That comes from a financial processing perspective and an operational processing, particularly removing anything that has rework or touched more than once. We spend a lot of time continuing to bring efficiency into our operations. That improved our margin, but also ongoing execution of that is really paramount to how we move forward. This will be demonstrated by the headcount as we move forward, whereby as people have left our organization, we have not replaced those because of the efficiency that that brings. Thanks, Jess. Next slide. If I can just recap on Hardware & Building Traders, for those of you who have not looked at this for a period of time. What this essentially does is it is an aggregation of independent trade and retail businesses, also with suppliers, independent owners and operators of their stores, which collectively come together for purchasing scale, but also creating distribution reach. There are 1,165 stores in that network, 490 suppliers. It has a purchasing ecosystem, about AUD 650 million. Essentially, only AUD 7 million of that is converted into revenue recognized by the HBT business, and essentially that is 1.1% of purchases they are collecting for a fee. As we move forward in our strategy, we will demonstrate how we have converted that into a commercial model for a lot more value to not only the independent operators but also to the suppliers. The strategic rationale is really simple. It is a larger market that we are operating in now across hardware home improvement, which are new markets for us in industrial and safety, which is our heritage, and also that links with the consumer part of the business. We have significant scale now that sits in our network that is very difficult to replicate. There is significance, as I mentioned, in terms of the runway that is moving forward, the earnings were immediately accretive. Therefore, from an acquisition profile perspective, the rationale absolutely ticks every box and it was transformational in terms of where we are taking our organization forward. Next. Thank you. What I mean by that now, let me demonstrate that in numbers. AUD 770 million of group purchasing volume today, of which only AUD 165 million of that is converted into sales and AUD 145 million of that is converted into revenue. We will show you how we are looking to convert a large chunk of that into revenue as we move forward. We have 1,200 new locations. In fact, as of today, we have 1,236 locations in our network, which that combines company operations, independent retailers that are owner-operators of their stores in the hardware, industrial, and safety markets. In addition to that, we range our consumer products in about 3,500 different retail chain stores across Australia. So we have an extensive network in excess of about 4,700 store touchpoints. We have 1,300 suppliers, and we will explain how they fall into four key categories shortly. Our product range, as I mentioned, is in 29 key categories now, and we have 236 employees at 30 June. That has decreased slightly on the basis that I mentioned earlier, the efficiency. As some people have left our organization for other reasons, we have been able to bring efficiency into the business. Next. Thank you. What that has done is essentially now put our business into what we see today at a glance. Strong execution across our group in FY 2026 has essentially put us as the largest independent distributor across every workplace, industry, trade, and home. Our great touch points, there is only one other company, being Wesfarmers, of the same type that can touch all those points with the scale and the depth of offer that we can now bring, which supports our move to being number two in the market. We have five operating businesses. That is Hardware & Building Traders, which is our ecosystem of purchasers. We have Heatleys Safety & Industrial. We have C&L Tool Centre. We have Force Technology, which is a consumer retail business, and our H Hardware brand is an emerging brand that is currently under license with independent operators, but we are expanding that in the future. Simply, our business model is multi-channel, wide range supplier of products and solutions. We have three pillars where we generate our revenue in distribution to business, retail, and trade, and also sourcing and supply solutions. Most importantly, how we grow is more products, more supply chain services, building supplier partnerships, selling more into existing customers and winning new customers, leveraging and optimizing our distribution network. We are also continuing to look at strategic acquisitions that obviously add significant value to the company. It is a nice profile in terms of where we sit today. Yes. How that comes together in our business model, from that slide into this, essentially suppliers, three revenue pillars, and five customers. From the supplier point of view, we represent and buy from category leaders. We have strategic partnerships which help service our distribution chain. We have exclusive brands that we represent across the organization. We have our own labeled product. We also create white labeled product, which is own brands for different companies and customers. What that essentially does in this portfolio allows us to combine the assets and infrastructure of company-owned operations with independent retailers and retail resellers in our markets to be able to cover the workplace, industry, trade, and home. Next, please. Dropping that into the five companies, we have our engine room of purchasing now across our purchase of our preferred suppliers is Hardware & Building Traders. It is emerging from a buying group to actually a value-added sourcing and supply chain solutions business to feed the channels of all the businesses. That feeds independent operators. It feeds company operations. It holds onto all the preferred supplier arrangements, terms and conditions that are negotiations and the ranging product development that we are looking to bring. It also manages and helps independent operators be really successful and have the tools to be competitive from a price point of view, from a customer proposition point of view, and from a product category perspective, to be able to compete with the major nationals. Supporting at the same time our company operations that we are looking to sell into in markets being Heatleys and C&L and the H Hardware business. It is number one in its market, Hardware & Building Traders. Heatleys is one of the leading businesses in Western Australia servicing the business market. It covers every industry in commercial and trade. We have eight branches that covers Western Australia outside Perth and regional centers as well as South Australia. You can buy in-store, online, through a sales rep. We have account managers. We have customer call centers. It is only servicing businesses and organizations. C&L Tool Centre covers all of the B2C and B2B environment, including trade. It does have sales reps in the field. It also has people in-store and online. In fact, that is our biggest selling online marketplace, and it is based in Brisbane. Force Technology, which I covered, you can see that that actually sells to a number of different brands through the major chains. We are number one in terms of the mobile tech accessories space for brand distribution. We provide manufacturing solutions, and the main distribution center is quite advanced in terms of its capability to be able to serve Australia-wide. Lastly and largely, in terms of H Hardware, that is a licensed operating model today. We are going to continue to grow those stores, 51 that are branded in that, and that will be the brand that we move forward. It will be H Stores, and H Hardware is one of those stores that are operating under license. It is a great portfolio, multi-channel platform covering all those four areas that I mentioned around the workplace, industry, trade, and home. You can see now that we have really cemented our position as a fantastic foundation to be able to move forward for our goals in FY 2028. Thank you, Jess. In terms of the market, just putting some context in the size, how we have grown on the left-hand side over the years since 2018 when we listed. The business was founded in 2014 by myself, and significantly grown, obviously, in that time. We built capability in the earlier period. You can see those brands at the bottom on the right-hand side. Some of those brands have now been absorbed and integrated into HBT, or they have been consolidated in other areas. We then moved into consumer retail, and obviously the expansion in HBT. You can see the significance of all the different products and the range that we sell today in a significantly bigger market for us to be able to provide the comprehensive offering that I have just showed you on the earlier couple of slides. Our business model, the companies that we operate, the markets that we are operating now is significantly larger. Our ranging and capability is significantly larger. Hence, our statement around being the largest independent operator and the third force within the market. This demonstrates the significance of what we have available, and how we are going to have a foundation for us to be able to move forward. Thank you, Jess. The execution element of FY 2026 has been quite comprehensive. We have obviously put out a number of releases in terms of our evolution in the last 12 months. We have consolidated that for your reading across these 12 different buckets. I will just call out a couple of different areas that I have not highlighted already. Clearly there is a significant amount of work that has been completed by the team. Our excellence through the organization has been a result of the performance of all our team across every aspect of our business to bring this together to essentially not only integrate, modify, evolve, consolidate where they can, centralize where they can, and secure new arrangements. But also then bring expansion to our organization is a significant effort and recognition to their efforts. One of our key strengths is the ability to be able to execute continually year after year, and that is because of the people that we employ in our business. A couple of key areas that I just want to mention that brings efficiency and is important for the future. One of those is centralized human resources platform, that essentially all our payroll's now been consolidated from seven companies into one. Two, we closed four operations that were very similar to the operational day-to-day activities of Hardware & Building Traders. We've merged that into one ecosystem of sourcing and supply, and that is now managed under HBT. So 32 independent operator stores, 126 suppliers, and our exclusive product range, being CAT, Harden, RIVO in the hardware and industrial part of our business, has all been merged into that one operation. The CAT and Harden and RIVO continues to expand itself. It's in 42 stores. We're looking to continually roll those out into a number of independent operator stores. There's merchandising in-store and so on. The CAT product in particular is a great brand, and it's getting momentum and is well-liked. This is a brand that is a mid-tier product and obviously catering to that work environment. We picked up two new branding distribution rights, PanzerGlass and also Tech21 recently. That will come through in FY 2027, but the growth of CASETiFY and Belkin and Ember was in line with our targets. The Ember range moving forward is not something that will form part of our business, because we feel that there's better effort and return on investment in PanzerGlass and Tech21. We've also just recently put ourselves on the platforms of Woolworths, Amazon, JB Hi-Fi, and that will drive a smaller amount of sales. Pushing out our consumer retail products into there and also putting other ranges into those environments obviously gives us more access to more customers. Most importantly, which has contributed no income into FY 2026, but will in the future and is a sizable part of our growth, is within our technology platform with suppliers and members around central invoicing. That technology started or commenced from the 1st of July, where we actually onboarded a number of different suppliers onto that. Essentially, that is a significant part of the AUD 400 million runway that we've already highlighted. Next. Thank you, Jess. Lastly, before we go onto the operations and then followed by strategy, is summarizing, I guess the few slides previously, but also as we're moving forward. AUD 500 million is our target, unchanged for FY 2028, and that was upgraded from AUD 300 million on the back of the HBT acquisition. We've got a really good runway moving forward. We've proven just to have demonstrated the execution aspect and where we're ready from a scale and network perspective to move forward with the expanded product opportunity that could bring. Our areas of growth are in commercial, are in trade, are in DIY. The importance of independent retail network is fundamentally a key component of our success. Equally, the preferred suppliers that work within our business are as important, linked with our company operations. The success, the investment, and the effort that goes between those three pillars is where, ultimately, the organization will execute and deliver on its strategy to FY 2028. We have AUD 100 million, as I mentioned, in new sales that's come largely out of HBT, the Heatleys, and the C&L businesses, which again, if you go back and you look at our organizational structure, that will define where they sit. Our consumer sales, reiterating that they will grow at 20% after winning those new contracts. There is AUD 130 million of new wave of sales opportunities that we are negotiating now that will come in and benefit also from the second half of 2027, but full year of FY 2028. If I just take you back to one key point, being point number four on the top right-hand side. There is a AUD 400 million sales opportunity, which we have now given insights to this over the last eight or so months. We have a AUD 770 million purchasing ecosystem. Essentially, we are looking to convert the AUD 400 million of the AUD 770 million into sales and revenue. That today is only AUD 165 million. Therefore, we are looking to grow from about a 21% capture to a 75% capture overall as we move forward. That is where our runway will come from. That is where our existing ecosystem already has existing transactions going through it, we are now looking to convert. On the back of that, I will pass you on to Matthew Green, who will walk us through the financial results. Then I will come back in, and I will outline the strategy moving forward, as well as the outlook in the period ahead. Thank you. Thank you, Mike, and good morning, everyone. I will take you through the financial results for FY 2026 for the Stealth Group Holdings. Before I do get into the detail, I just want to note that these results are in line with our pre-released announcement we made to the market on the 17th of June. For those that saw that and were across that, there will not be any surprises in the numbers today. What I will do now is take you through a bit more detail, work that through to the balance sheet, cash flow, and the various elements behind that. On the current slide, as Mike outlined, the headline group performance. We had sales up, we had revenue up. It is also worth noting on the statutory revenue as called out, on a like-for-like basis that we are actually up 6.7%. The like-for-like being that the buy group activity Mike alluded to previously has now merged into the HBT, where we recognize it on an agent basis rather than a principal basis, and as such, the revenue does not flow through. On the EBITDA, we came in at AUD 14.4 million, up 46%, and margins expanding, as noted previously, from 6.8%- 8.7%. This result flowed into a stronger balance sheet and net debt to EBITDA improving to 0.5x from last year's 0.7x. Cash balance of AUD 32.1 million, up 122%. Earnings per share at AUD 0.041. As such, the board has determined that a fully franked dividend would be payable at AUD 0.015 per share, and payable on the 30th of September. Across all our key metrics, sales, revenue, profitability, cash gearing, we have seen a genuine step change in the group for the year. Thanks, Jess. This slide just outlines our five-year growth profile in CAGRs. Again, some impressive movement, and again, to highlight that we are now seeing some inflection point and scaling benefit, as previously indicated, with our sales up 18.8%, but EBITDA up 59.8%. We expected this scaling would bring the leverage model we have, and it has done exactly that. Thanks, Jess. I will now move to the income revenue area. For FY 2026, it was the 12th successive year of growth. This slide overviews some of the key drivers of that growth. Our standout contributor in growing year-on-year was our HBT acquisition, which added AUD 19 million in sales and AUD 8.9 million in revenue for FY 2026. Remembering that HBT has only been in our numbers for eight months from the November close. Looking at the base business, Mike had previously alluded to, that is pre-HBT sales. We are up 1%. Within that, the industrial business performed very well at 9.6% up, driven by growth across our key industrial PPE and safety and workwear categories, particularly into the mining sectors. One of the areas to call out was the consumer products area, which Mike had indicated earlier, which regressed 8.4%. This was largely on the back of the rearranging exercise at Officeworks, which we, as Mike indicated, is now complete. Force Technology's position post that has significantly improved, and as such, adding that with the additional distribution agreements with PanzerGlass and Tech21, which are already contributing in the current year, we will see Force Technology up 20% year-on-year for FY 2027. A positive turnaround. It is also worthy to note off this slide, the other income line, which in particular had two main areas. One is the AUD 700,000 of incremental interest through our better cash balances and improved cash management, but also a AUD 1.9 million fair value gain on the Force Technology acquisition contingent consideration, which ultimately was lower as a result of the lower Force Technology sales, and therefore, is written back to the income in the P&L as a one-off non-recurring item. Offsetting the other income elements were other cost impacts, in particular, the non-recurring HBT transaction costs, just over AUD 900,000, and other incremental and integration costs throughout the business as we implement growth profile initiatives. Thanks, Jess. This slide is simply a profile of our segment, both at a customer segment level and a product segment level across our main operating businesses of HDC and Force Technology and HBT. The key takeaways here is that is the current profile, but for future growth opportunities, we will certainly see a build-out of the hardware home improvement areas, and driving further into the commercial and trade areas, which are great opportunities for our expanded business. Thanks, Jess. We now move to the balance sheet. On the balance sheet side, we have obviously improved our balance sheet, and we now consider it very robust to support the growth we have on plan. Our net working capital invested increased to AUD 80.7 million from AUD 9.5 million. A key element to a cash, obviously up AUD 32.2 million, AUD 32.1 million, up from AUD 14.4 million. Our trade and other receivables, which were up at AUD 22.9 million from AUD 21 million. This is reflective of the quarterly in arrears billing and collection cycle that we have at HBT. Our inventories were up AUD 23.8 million, up from AUD 20.9 million. Again, reflecting our go-to-market build for RIVO, CAT, Harden, along with stocking for PanzerGlass and Tech21. Both of those increase our working capital without necessarily giving us the full impact of even our trading outcomes for them. HBT for eight months and the other brands as we roll those through. The other point to note is the intangible asset, which increased with the goodwill on acquisition of HBT. Excluding the goodwill, other intangibles really moved in relation with our ongoing investment in technology, digitization, and our growth initiatives. Financial liabilities and borrowings also had a significant increase, both in terms of the borrowing facility for the HBT, but also reflected the AUD 10 million of deferred consideration and earn-out that relate to HBT. For a return on capital employed, that was marginally down 14.2% against 16.7%. But again, reflecting the increased capital base that we now have and have put in place for incremental growth throughout the business. We expect that to significantly increase in the next financial year. Overall, a very strong balance sheet that gives us the flexibility to take advantage of market conditions, and pursue the growth profile, while still managing any potential for downside risk. Thanks, Jess. Calling out the capital expenditure items. Our gross capital expenditure was AUD 4.1 million this year or 2.5% of sales, down from the AUD 4.8 million last year. The spend in particular, I wanted to highlight the private label and exclusive distribution spend of AUD 1.1 million, which included the development work on the RIVO product now ready for our go to market. Our technology systems, where we continue to pursue technology as a driver of efficiency and automation, including our, as Mike highlighted, our organizational-wide HR and payroll platforms, and our other technology, which is our IT hub and our central billing enhancements, which were through the HBT acquisition. It's a great proprietary tech that we acquired with that acquisition, and we've now expanded that with the central billing profile and added to it some AI analysis. This now is really a powerful end-to-end deal engine to central billing profile for the business. Looking ahead, we expect the CapEx to return to our FY 2028 targeted run rates of under 1.5% of total sales. That is consistent with our capital light nature of our business as we progress forward. Thanks, Jess. On the working capital, turning to cash flow, we've got statutory EBITDA of AUD 14.4 million, which converted to cash from operations of AUD 7.9 million, up from the AUD 6.6 million last year. The tax of AUD 2.9 million, which gave us an operating cash of AUD 5 million, broadly in line with last year's number. After capital expenditure and intangibles, we ended up with just under AUD 1 million of free cash flow against the AUD 0.1 million last year. I think there are three items that I wanted just to highlight from an operating cash conversion point of view, which impacted AUD 6.4 million of operating cash. The first one being, as highlighted previously, our HBT invoicing quarterly in arrears. This impacts to a value of AUD 2.5 million. Our invoice and cash collections for the FY 2026 fourth quarter, so the June quarter, actually occur in July and August. That would flow through naturally in the following quarter. The question obviously is how has that gone this quarter? I am pleased to report it has gone very well. In fact, it has been our largest single invoice and collection month in HBT's history. We also invested in stocking inventory to support the rollout of CAT and Harden, RIVO, along with the PanzerGlass and Tech21. So we have added inventories of just on AUD 2 million, which impacted obviously an increase in cash of AUD 2 million, without necessarily those flow through sales appearing as yet. The third item is our non-cash item, as highlighted with the Force fair value gain, which is a non-cash item into the EBITDA. We would expect the cash conversion to normalize back to EBITDA over time, subject to any further one-off impacts that we have with growth projects. Separately, our capital raise in November, December was oversubscribed and delivered AUD 18.7 million in cash net of costs. This raise certainly strengthened our balance sheet, and supports the execution of our integrated model, particularly the HBT growth elements going forward. The next slide, thanks, Jess, is really a visual of the waterfall of that cash movement, highlighting the key areas and specific items called out as you go from opening cash to closing cash. Thank you, Jess. Finally, on debt and leverage, our net debt was maintained AUD 7.7 million, up modestly from the AUD 6.8 million in prior year. And we continue to maintain a low level of debt as we move forward. Our gearing ratio is 12.6%, down from 18.3% last year. And our net debt, as indicated, net debt to EBITDA at 0.5 times versus our 0.7 last year. These numbers reflect our continuing trend to lower our leverage and are at the lowest levels for five years. This again provides our flexibility in the business to take opportunity if it presents, while also giving us significant headroom for the future growth initiatives. In closing, that covers our financial results for FY 2026. Certainly a transformational year that has laid targets. I will now hand back to Mike, who will outline the strategy and pathway to FY 2028. Thanks, everyone. It seems like we are having some technical issues. If you would just bear with us for a minute. We are back on. Thank you. Just want to check. I think we have got a tech issue here, so we just Yep, that is all good now. Thank you. That is all good. Yep. Boys away. Thank you, Kieran and Jess for bringing that back on. I appreciate that. Thank you. Terrific. Okay. Thank you, Matt, first of all. Appreciate you covering that. Most importantly, a couple of key messages I just want to finish on with the finance section. Our sales have grown, our profitability has grown, our cash has grown, our balance sheet's a lot stronger. Our debt has come down. As Matt said, 12 years of growth, it's our lowest debt position from five years from a leverage point of view. We've got a really strong balance sheet to be able to move forward and execute on our plans. Been heavily led by Matt and obviously his teams in terms of our competency, but also the integration aspects that we spoke about earlier, which are financially led by Matt and operationally led by our COO, Luke Cruskall, which is not here today, because he's back running the operations. Importantly, their contribution and their team's contribution to this has been why we've got the business that we have. I just want to walk you through the strategy to 2028, the growth levers and opportunities, the outcomes, and measurable targets. Why that's in place now is from today as we move forward the organization, giving some benchmarks and a stake in the ground for you to be able to measure our success as we move forward. The bridge of what that brings from a financial point of view from FY 2026 to 2028, with one example that we'll give of many. Taking you back, we've built the framework. We have a big operational distribution system. We've got our five key customer segments, our four key supplier segments. We have five pillars of operations that are taking us to market. All of this now brings it together on what our execution will look like in the coming years. While we talk about FY 2028 target, this has really cemented the organization transformation of where we're going to be longer-term into the future. We have a really strong pathway forward, and we have advanced with a long way forward in terms of that execution of those plans. Thank you, Jess. My key message is exactly that. Got a little bit ahead of myself, but significantly larger. If I could just, without confusing, there's AUD 770 million of purchases that goes through our ecosystem, so made from independent operators, made from company stores, that goes through our portfolio. Which today, only AUD 165 million of that is taken. Our AUD 400 million extra comes out of that AUD 770 million. That is before we grow in markets, or we grow market share, or we win new business, or any other key events that come along. We're just looking at that pie and saying how much of that pie can we convert. Most importantly, the success of that comes from the independent retailers, bringing more value to them to make them more competitive in the market, as I mentioned earlier, a bigger range in helping them be successful, more money in their pocket, and more margins. We want to help the independent industry across Australia be much more successful than what they are today. The heritage in that space, there is no organization like us who are trying to make independents as successful as what we're trying to demonstrate moving forward. Equally, from a supplier point of view, the success of our business is the partnerships we have with suppliers. Bringing suppliers and bringing independents with our company operations all together is the glue that makes our business really successful. Those three pillars are absolutely paramount to our future moving forward, and we are really excited about what we can bring in that space. Our targeted outcomes remain unchanged. Sales, the difference between sales and revenue, which I have explained before but I will explain it again, is about AUD 30 million-AUD 50 million of rebates that are paid from suppliers that pass through the organization that are then on-forwarded to the independent members or company stores. AUD 30 million-AUD 50 million is about the number. Everything we are looking to convert moving forward is sales and revenue recognition. Why have we stuck with the word sales? That is how our business is defined. We are a sales organization, therefore, we will continue to describe ourselves and measure ourselves against that. Before I move into the next slide, stronger market position, greater scale, bigger earnings coming, and our business is expected to be delivering stronger cash generation. Thank you, Jess. Our strategy, essential products and solutions for every workplace, trade, industry, and home. There are three key areas of our value proposition, as I have just mentioned. Partners, partners being independent operators and suppliers. Every industry is commercial, being businesses and organizations and trade customers. Then every home. That is trade, and that is DIY. There are elements of all those three pillars that are considered to be extremely strong. There is a large element of those pillars that are non-discretionary items, which brings the stickiness of resilience behind our revenue profile. That is why we like playing against all areas, because it is every touch point creates a new revenue stream for us. We have five key areas of what we would call strategic growth pillars. Simplifying the supply chain in the ecosystem. I will give you an example of that. That is the example slide we have. Second of all, continuing to expand and innovate our offer, making sure that we are adding more value to the partners that were in our organization and the end customers that buy our products. Growing in those three areas of commercial trade and DIY, which is why Matthew showed in his finance slide that our sales mix. Therefore, from that perspective, we are able to show you where we are today and as we move into future years, how that profile is changing, which does link financially to strategically how our business is evolving. Clearly, with a network that has 1,236 locations across Australia in the hardware, industrial, and safety side with another 3,500 retail stores that are operating within our network, we want to make sure we continue to optimize that and push more into those channels. But equally, we are looking to grow and continue to grow our network. That means things like in the convenience space, more retail stores. We have just gone into places like Harvey Norman because of cans of gas. We have not been in there before. We are looking to expand in airports. We are looking to expand in petrol stations. They are fast growth areas, high traffic areas where people have the opportunity to buy more of our products. In the hardware store, our ranging and the ability and independence to have more products that they didn't previously have available to them, that the Stealth organization has now been able to make on offer. Equally, those products that were in Hardware & Building Traders that the prior Stealth organization didn't have, we're able to sell more to existing customers. They're a bigger adjacency. Then we're looking at productivity. AI, like every other organization, is a hot topic. What we're looking to use it for is three key areas. One, make ourselves more efficient. How do we reduce anything that has multiple touch points from a processing perspective so we can be faster, more simplistic, and utilize our resources more effectively on value-creating activities? The second part is how do we improve our operations? How do we ensure that the speed of goods that we receive, we replenish, and then we distribute can happen within a faster real-time environment so that the customer is able to get their goods with convenience and with speed, as I mentioned. Thirdly, predictability. Predictability over our inventory. It's our biggest single operating variable asset. We have currently about AUD 25 million worth of inventory. That will grow in a products business. The just-in-time supply chain, the replenishment model, the predictability on previous history, as well as forecasting for the future, allows us to be able to utilize our working capital much better, ensure we've got the right stock in the right location at the right time. But equally, help with our future expansion of fulfillment centers to be closer to the independent stores, to be closer to our customers, is a key component of ensuring that we have the best-in-class inventory systems available to us. That comes from predictability. That's where our investment is, in predominantly those three key areas. With the strategic outcomes, which I've already mentioned, most importantly, with a TSR of approximately 77% in the last 12 months, doubling our market capitalization in the last 12 months, but equally, increasing that by six times in the last two years is a demonstration of our focus on shareholder returns. Thank you, Jess. We'll move to the next slide. The next two slides, and I'm not going to go through all of these, we talk about the five leaders that I just mentioned. What's the priorities? What's the opportunity that presents itself? Supply growth, channel growth, product growth, and distribution network growth is all key components of what I've just explained. That becomes our priority, which then, thanks, Jess, into the next slide, takes into how do we measure that success. So what are the outcomes we expect? What are the financial outcomes that we expect in terms of our result and in our measure and our target success? Moving forward, we're able to show these boxes on the right-hand side and walk you through what was the benchmark and what's our success. Therefore, let me take you through a couple of these because these are important. The first line in ecosystem simplicity. Greater monetization of the ecosystem of purchases that is made through HBT. That recognizes higher revenue and sales and commercial profitability for the company. It also helps with our operating leverage, which improves margins. Therefore, today, we are looking to convert the 21% of that purchasing system to 75% target. That is our target. It is a significant runway of existing business that is already in our portfolio before we even go and change anything else. In doing that, it is not as simple as conversion. We want to demonstrate value to suppliers. We want to demonstrate value to the independent operators, which is where we come from improving or expanding and innovating our offer. So greater category selection, better pricing, more money in the pocket of the independent. For a supplier, a growth channel for them to be able to grow their business and sell more products and have more touch points and get their products more out to market. It absolutely creates a win for the supplier, it creates a win for the independent operator, and clearly it creates a win for our company operations. All of that together delivers the outcome that we are looking for in terms of the Stealth results that we are showing you. Therefore, there is a number of things like preferred supplier arrangements and central invoicing that is currently underway. That is a big part of the AUD 100 million that we have secured already, and that onboarding process is occurring. Some of those occurred on the 1st of July, and that will continue to evolve monthly over the course of the next five months. Then we will move into the next phase of that growth. The customer segments in terms of five areas, so taking hardware and home improvement, the categories of those products into Heatleys and into the C&L environment allows us to be able to sell more products to existing customers that we are not selling with today. So convenience, speed. Price is important, but not as important we find when you are selling B2B. It is having the one-stop solution. So having a solutions team that is providing a range of products from one location that can take it to a job site, that can take it to a central consolidation point, that actually can feed multiple sites with one solution and one partner they are dealing with, is the way that the mid-tiers to the larger organizations are growing. We can give a comprehensive range. That then expands to the employees and friends and family at every extension, and you create a large ongoing spider web of opportunity whereby people can buy our products. So catering for the workplace, catering for industry, catering for trade, catering for home. So all those components, we have almost an endless assortment of products that is now available for existing customers and also for new customers. That is where our business grows. That is where we have confidence in our numbers. That is where our execution out of AUD 770 million worth of existing business is demonstrated and looking to grow in new markets. That is where we are looking to be number two in the market. We will grow our fulfillment centers, their micro-fulfillment centers that will hold stock in those locations, that will be able to feed independent operators and also feed end customers. That will be across Australia. We are looking to push the H Hardware brand nationally. So 51 at the moment, we are looking to take that to 200 over the next three years. H will be the brand that we have moving forward. So it will be H Hardware, H Timber and Hardware, H Industrial, H Industrial and Safety. An H brand will be an Australian iconic brand over the next three to five years. That will be the brand that will be recognized under one banner. Linked with all the independent personal names. At least they will be able to link it with part of the H network. That is our key push. Productivity. The other element that I just want to reiterate before I move on to productivity. Clearly, our ecosystem combining independent operators, company operators, as well as retail stores, we are maintaining a capital-light approach. The model is capital-light. We utilize the infrastructure. That is the importance and the value of not spending significant capital opening up stores, closing stores, ranging stores. There will be an element we do that, but predominantly, that is why we support the independent space. We leverage them, we make sure they are successful, and we utilize all those elements I have spoken about to make their stores better than what they are today and help them be successful. Productivity-wise, as I mentioned, all the elements we are doing around AI and efficiency supports our improvement in our margin. That was demonstrated in FY 2026. But clearly, a key component of having a lower cost to serve. Thank you, Jess. Where does that all bring? I guess there is a lot of information there. In terms of a key summary on our pathway, there is AUD 265 million of annual sales, AUD 220 odd million in revenue. That is recognized on an annual basis. The AUD 100 million is rolling in over the course of the next 6 or so months. Therefore, from our annualized perspective, that is the run rate. We have another AUD 130 million we are obviously working on, and that will contribute into the second half. Therefore, by the time that we are sort of getting through to this time next year, we will have a run rate just based on the last seven weeks, of AUD 265 million. I will reiterate that we are looking to convert 21% today of the ecosystem of purchases to 75%. We are looking to grow in commercial, as I said, expanding our building hardware suppliers' range to those businesses and the customer offer, and growing in trade. This is a really small point of our business. If you go back to Matt's slide in finance for sales mix, you will see that trade is a small element of what we do today as revenue recognition. Therefore, the growth of H Hardware stores, tool hire, loyalty rewards programs, online, having a single H Store platform, and we are bringing out, which in the near future, the launch of a new Trade- Pro offer. We will explain more of that in a strategy day that we are looking to present to investors in October. I think it is the 13th of October, so there will be more information shared there on what that trade offer looks like. We have looked at a number of different operations globally, in the U.K. particularly, and we are looking to bring that model into the Australian market, which is unique in its own right for the range that we have available. So they are the three main growth engines out of all the opportunities that sort of come through. Thank you, Jess. Next slide. Let me talk about simplification. This is the example that I want to bring. This is why in that purchasing portfolio of or ecosystem, AUD 700 odd million in HBT. The arrangement is, it is a complex web of relationships between member and supplier. There are 490 suppliers dealing with individual independents, 1,200 of those. Members pay suppliers directly. Suppliers manage payments and credit. The administration and marketing fee aspect is taken on the heritage from HBT of the purchasing that goes through that. It is complex, it is inefficient, it is an archaic way of dealing with this. The future model, member into a central point with Stealth, the supplier into central point with Stealth. We are able to bring a commercial model together as one primary source for suppliers, one primary source for members. It simplifies all the relationships but creates new revenue streams, and there is value to suppliers and members. One example, one supplier has 273 independent operators it has to collect from every single month and has to chase those accounts to get paid. With us, they will get one payment, it will be on a particular day, and they will get paid for all those 273 stores. That is efficient. From a member point of view, they have 103 different relationships, this one store from suppliers, they are buying from all those different locations. We are looking to convert at least half of those in the next 12 months. So they have one payment to make for 50 suppliers. Their efficiency, they can import all that information into their ERP system and accounting system, and transactionally, it is all done for them. It takes away the inefficiency in the back end, which makes everybody focus on growth and everybody focus on how do we serve more for the customer. That technology investment that Matthew spoke about earlier and how we have talked about how do we create more value moving forward, this is a key component of what we call central billing, and this is the technology platform that is underway. The success comes out of how do we grow for suppliers, how do we make independent operators have a platform that they get more value from? How do we bring efficiency in that whole chain? So it is a great commercial model. It is innovative in its own right because it forms part of a bigger plan, which is about creating a growth platform for members and suppliers. Thanks, Jess. We will move into the last two slides, which everybody will be happy to get to, I am sure. In terms of trading outlook, significantly, FY 2027 started really strongly. We have already mentioned the run rate of new sales. We have added 36 new locations, which is great, turning us to the 1,236 stores that we have mentioned. Matthew mentioned earlier about the consumer retail side with the brands of PanzerGlass and Tech21 and with the launch of iPhone 18. The pre-sales of that have been really strong. That sits in all the major chains, which we are largely now touching, which we did not last year, but we are this year. New capabilities are being executed around the commercial services model that I have just shown you, the web of complexity to simplicity. The expanded product range. The category growth is all elements and tool hire of capabilities getting executed across the network, and capabilities being developed. The AI, the single brand H Store. They are the elements, essentially, of all the components that I have spoken about earlier that bring it into the last checklist. Lastly, on our component, Jess, please. Reiterating our FY 2028 targets and sales, the EBITDA margin, NPAT margin over sales, capital expenditure, and brand distribution. Brand distribution is the preferred supplier components that are now all in HBT that serve independent operators. The consumer retail business that sells into retail, resellers, the brands we represent, and its company operations that serve in markets in the customer segments through commercial trade and DIY. A big year, a great year. It's financially, strategically, operationally been a successful year. It is really the foundation setting of the future. I know we keep reiterating our targets FY 2028 because that's where we've really centered our business forward. However, this is bigger than that. This is bigger about growing our platform as we move past 2028. We're obviously got a five-year rolling outlook. We'll give more insights to that on an investor day that we're looking to hold in Sydney on the 13th of October. There'll be more information that's going to be shared about that. We'll give a bit deeper insights as to what our program looks like and how we're looking to get to the next phase of elements in FY 2028 and beyond. We'll move to question time. I'm just going to pause. I'll let Jess look at any questions that have come through. If you can submit those, please come back in a minute or two and we will then start answering any of the questions, Matt and I, that any shareholder has. Thank you. Okay. Thanks, Mike. Can you hear me okay? Okay. Can you hear me, Jess? Yeah. All good. Okay. We do have a small handful of questions. First off, we have Ron Shamgar, who has asked, do you expect FY 2027 EBITDA margin to improve on the 8.7% in FY 2026? Yes. I guess, the key elements of that are, FY 2027 will out surpass or will surpass, outperform and surpass FY 2026. In sales, in revenue and in profitability. Great. Thank you. He has also asked, will you look to do further M&A before hitting your FY 2028 targets, or will you prove to market the target initially? Well, M&A is always strategic, timely and opportunistic, I guess, in all those elements, so predictability is difficult. What I will say is we have completed 10 acquisitions over the course of the last eight years. We are a company that does like acquisitions at the right multiple, at the right value proposition that can add strategic, operational, or financial benefit. Therefore, it will be a component that we will always consider for the right transaction at the right time. Are there elements that we look at? Absolutely. Or opportunities we look at? Absolutely. We will continue to do so. We regularly get sent opportunities to us. A lot of those do not have the value in those three boxes that I have mentioned. There are good strategic acquisition opportunities out there, but we are really focused in also executing on all the things that we have just shown to you. All none of that has mentioned the words strategic acquisition. All of that is about leveraging and optimizing the existing portfolio that we now have within our ecosystem distribution. Great, thank you. Colin McArthur has asked if you could please explain the difference in the report of sales revenue, AUD 165 million, and revenue of AUD 146 million. What is the difference of the AUD 20 million? Yeah. This is, obviously, in the annual report and it is also in the financial report. So the difference in its most simplistic form, AUD 20 million worth of rebates that are received by the company, that are paid out 100% to the independent operators. So that is from the supplier, passed through our business, paid out to the independent operators. It is entitlements as part of the supplier arrangements we have in place. Consists of multiple different benefits and terms, price points, and commercial arrangements. Rebates is a historic component of the industry that we operate in. We are not an orphan by any stretch. This is absolutely typical whereby there is a component that we have to recognize because we hold the arrangement with the supplier that flows through. We pay out AUD 1 on the dollar. That is going to continue. As I mentioned earlier in the presentation, there is a component of that that will continue to be sales and revenue. For three years now, I have mentioned the word sales. I have explained the difference is always going to be in this component. There is still some elements of questions that come through, not only by Colin McArthur, but others, that for whatever reason can't comprehend that. What I will say to you is the difference is always going to be somewhere between AUD 20 million and AUD 30 million, and I have mentioned in the future, AUD 30 million - AUD 50 million. Our target has been absolutely consistent for three years. We measure ourselves in sales because we are a sales organization. We measure our performance of margin on sales, and at relevant times when we are asked the question, we will put it on revenue. If there is a change to that, we will do it in a well-considered, coordinated, well-communicated approach that will educate people on why we have all of a sudden moved from sales to revenue. Revenue is a recognized element which is important to our future. Sales is our driver. Having both of those are key components. As a distribution business, we are governed by sales, and that is every sales dollar that comes through the organization. That is where we will continue to measure ourselves against. Thanks, Jess. Thanks, Mike. Lastly, Michael Ken has asked, are you in a position to provide FY 2027 guidance bands? Great question. I would like to. There are lots of moving pieces. We could be well ahead or we could be on target. What I will do is, there is some research out there from Ord Minnett. Go and grab what their guidance is. That is the target we are pushing everybody to. Clearly, FY 2027 will out surpass FY 2026. We really focus on our FY 2028 numbers. I know that everybody would like 2027, we expect to improve in 2027. We expect to outperform by the time 2028 comes along. Our targets thereafter obviously will continue to grow and improve. We are looking to be an organization that is one of choice. One of choice for shareholders, one of choice for independents, one of choice for suppliers, and clearly, any other stakeholder from and stakeholders being our team members. In being the company of choice, we want to continue to grow and outperform the market. That is past 2028. Therefore, what we will continue to do is focus on execution of the plan that we've got in place, the financial targets we have in place, the acquisition opportunities that may present itself, and our pathway that is long-term, sustainable earnings for everybody involved in our company to 2028 and past 2028. Having a 2027 number with all those elements that we're executing is short-termism, and I know it's important from shareholders. All I can say is at the moment, we're not giving guidance, but we are expecting to absolutely well outperform what FY 2026 was. Okay. Thanks, Mike. We've probably only got time for one more question, Jess. If- I think that's actually it. We can wrap that up, and if there are any further questions, please just email investors@stealthgi.com. Terrific. Thanks, Mike. Well, thank you everybody. I appreciate the questions. As Jess said, if there are any other questions, send them through and we will answer them practically without giving out any information. What I would encourage you to do first is look at the release, look at the 4E, look at the annual report and the deck, and everything will be answered in there. We continue to evolve and be more transparent, in terms of the information that is available to shareholders. We have an exciting business. We have a massive runway. We have the biggest opportunity that is available to our organization than any others out in the market. We have now just demonstrated to you how we are looking to execute that. It is a fantastic time to be involved in our business, and we are looking forward to delivering all the results in the future. Thank you everybody for attending.