Joining us today. Welcome to EROAD's 2024 Annual Shareholder Meeting. I'm Susan Paterson, the Chair of EROAD's board. Today's meeting is being held both in person here in Auckland and online through Computershare's online meeting platform. For those of you attending the meeting virtually, if you would like to submit a question, the Q&A is always open, so please feel free to submit questions throughout the meeting. These will be read out and addressed in the Q&A session at the end. Any questions that are not answered in time will receive an email response after the meeting. Voting today will be conducted by way of poll on all items of business. I will shortly open the online voting for all resolutions. If you are eligible to vote at this meeting, you will be able to cast your vote under the Vote tab. Once the voting submitted, you can change your vote up until the time I declare voting closed. I now declare voting open on all items of business, and I will give you a warning before I move to close the voting. I would like to introduce the board: Sara Gifford, Cameron Kinloch, David Green, Selwyn Pellett, and Barry Einsig. You will hear more from David Green and Cameron Kinloch after the meeting. From EROAD's executive team, we have our Co-CEOs, David Kennison, Mark Heine, and our CFO, Margaret Warrington. In terms of today's agenda, following my chair's address, I will hand off to Mark, David, and Margaret for an executive update. We will then move to the formalities of the meeting with three resolutions for today, and finally, an opportunity for any shareholders' questions before we close. This year has been one of decisive action, disciplined delivery, and a relentless focus on turning around the core of the business. As a result, the EROAD of today is in a much better position than it was 12 months ago, with the team, capital, and skills in place to capitalize on the future. Our product offering has grown stronger with targeted innovations that enhance efficiency, emissions reductions, fleet management, safety and compliance, core areas which EROAD continues to lead and differentiate itself in the market. Our customer base, comprising key players in enterprise transport, refrigerated transport, and construction sectors, has shown exceptional loyalty. This has maintained our high retention rates of 94.8%. This is a testament to the real value that EROAD provides in improving operational efficiencies, sustainability, and compliance solutions for complex fleet operations. I will leave the financial results for David, Mark, and Margaret. However, I would like to acknowledge the pleasing FY 2024 financial and operational performance, having met or exceeded all guidance metrics set at the start of the year. It is also pleasing to note that FY 2025 has started well, with the first quarter continuing the trajectory that we have been on. These results demonstrate that the company is on the right track and reinforces the board's conviction in EROAD's strategic direction as it moves the business to being cash flow positive for FY 2025. Under the thoughtful and dedicated leadership of Mark Heine, we have successfully turned around the core of our business and repositioned EROAD for growth. Mark's strategic focus, foresight, and disciplined approach have been instrumental in navigating the company through a complex market landscape, resulting in a stronger, leaner, and more competitive EROAD today. Building on this foundation, and to capitalize on growth opportunities, in March, we appointed U.S.-based David Kennison to a Co-CEO role alongside Mark. David is a highly experienced global executive with over 25 years leadership roles in high-tech, manufacturing, and professional services sectors, including the supply chain software company Quintiq and E2open, and procurement optimization platform, Xeeva. His extensive international experience is complemented by a deep understanding of the U.S. market, a critical advantage as we expand our presence and seize growth opportunities in North America. David's global mindset and market-specific knowledge, alongside Mark's established leadership and success in turning around our core operations, creates a powerful Co-CEO partnership, one with complementary skills and a shared vision for EROAD's future. EROAD's purpose is delivering intelligence you can trust for a better world tomorrow. This guiding purpose reflects our deep history as a provider of technology solutions for fleets, while also looking to the future as our solutions expand to meet the needs of a changing market. One such example is incorporating additional sustainability tooling to meet the increasing environmental scrutiny and costs that our customers face across emissions reductions and associated compliance and reporting. By supporting our customers with the right data through our existing platforms, EROAD is uniquely positioned to make a meaningful difference in the reduction of greenhouse gas emissions. Here in New Zealand, with a reported 70% of country's emissions attributed to transport, a key product for FY 2020, this was developed in partnership with EECA, the Energy Efficiency and Conservation Authority. By combining AI technology with the data formed from over 100,000 connected vehicles and assets, we can now give fleets the insights needed across fleet profile and usage patterns to understand and report on their fleet emissions. More importantly, this provides customer with the insights and recommendations to reduce their emissions and run a more sustainable fleet. EROAD customer, Ahunga Projects, saw a month-on-month reduction of 28% of their greenhouse gas emissions since using EROAD. This is just one example of the steps toward achieving our overall mission, but we believe EROAD is well positioned to have a big impact on the sustainability journeys of fleets globally. As we continue to drive EROAD forward, we also acknowledge the contributions of those who have shaped our path. I extend our heartfelt thanks to Graham Stuart, who stepped down from the board on the 31st of March, 2024. During his tenure, including five years as chair, Graham's contribution has fundamentally shaped the trajectory of EROAD. His leadership through the acquisition of Coretex marked a significant expansion of our capabilities and market presence. Graham's guidance was crucial during that strategic refresh that realigned our company's vision and operational focus to position us for future growth. His impact on EROAD is lasting, and his leadership qualities have been instrumental in setting the stage for the next phase of growth. We are deeply grateful for his dedication and leadership. In ensuring we have the board for the future, the composition of skills, experience, and geographic markets are all carefully considered. To that end, we are delighted to have Cameron Kinloch and David Green join the board this year. David is based in Auckland, offers deep leadership experience from a vast career of executive roles in the banking and finance sector, in companies such as ANZ and Deutsche Bank. Today, David is a professional director and investor, and enhances our capabilities in financial oversight and risk management as chair of our Finance, Risk and Audit Committee. David also serves on the People and Culture Committee, supporting our focus on leadership and organizational development. Cameron, based in California, brings extensive governance and operations experience from roles as chief operating officer and chief financial officer of high growth companies, where she drove strategic growth and guidance throughout M&A, capital raising, and IPOs. Cameron is a CFO at enterprise software company, Weights & Biases, and a director of sustainably sourced coffee producer, Copper Cow Coffee. Dave and Cameron are the perfect complement to the rich skills and expertise of our existing directors. Barry Einsig chairs our Technology Committee and deepens our focus on integrating advanced transportation technologies, vital for growth in North America. Sara Gifford chairs our People and Culture Committee, enriching our organizational development with her extensive experience in global software and logistics. Selwyn Pellett brings decades of strategic insight to our Finance, Risk and Audit, and Technology Committees, enhancing our risk management and our innovation capabilities. Their combined expertise further strengthens our board's ability to guide the strategic direction. As we look ahead to 2025, the company remains focused on fiscal and operational discipline that supports profitable, sustainable growth. We have solid foundations in place, a laser focus on delivering to the targets we have set, and a growing confidence in our long-term potential. As a result, our FY 2025 guidance is revenue of between $190 million and $195 million. I would like to take the moment to acknowledge and thank all of EROAD's people for their hard work and dedication. More than 25% of EROAD's staff have a tenure of between five and 20 years. This is a reflection of their commitment to the journey of EROAD and the depth of knowledge and experience in our company. We know people are fundamental to the success of the company, and we are grateful to everybody who chooses EROAD as their place of work. This is a purpose-driven company, delivering great value, not only to its customers on many fronts, but to their employees through health and safety, to the countries in which we operate through safer roads and revenue collection in New Zealand, and overall to the planet, through lower emissions. To you, our shareholders, thank you for your ongoing support as we drive to deliver our purpose while growing size and profitability of our business. I'll now hand over to David Kenneson, Mark Heine, and Margaret Warrington for their CEO and CFO addresses. Thank you, Susan. Hi, everyone. For anyone who hasn't met me previously, I'm Margaret Warrington. I'm the CFO of EROAD. Our FY 2024 results reflect the focus, discipline, and financial rigor we've instilled in the company over the last two years. For the second year in a row, we've achieved results on or above guidance. We remain focused on consistently delivering on our promises, committed to achieving results that demonstrate sustainable and profitable growth. For FY 2024, we've grown revenue to $182 million, representing an increase of 10% from the prior year. This is in line with the growth of our connected units, which reached the milestone of 250,000 units globally, up 10% year-on-year. The sustainability of this growth is evident in our improvements to the free cash flow. From -NZD 29.9 million in FY 2023 to NZD 1.3 million in FY 2024. We are proud of this achievement. It's important to note that this result also contains NZD 8 million-NZD 10 million of one-off cash impacts that are attributed to our 3G upgrade program. Importantly, we expect to be free cash flow positive in FY 2025, 1 year ahead of previous projections. This has been achieved through a series of cost out measures, removing NZD 20 million of annualized costs from the business, NZD 10 million per year in both FY 2023 and FY 2024. Approximately half, approximately half of these savings were achieved through supplier negotiations, where our increased scale provided the ability to negotiate services for a reduced cost. The largest single contributor to the savings was through reduction in headcount across employees, contractors, and consultants, which we were able to achieve while still maintaining our high quality of customer delivery and growth. Looking forward, our cost focus remains, with specific attention on ensuring that fixed costs are managed and continually looking for efficiencies that help fund the investment required as we scale further. We remain committed to continuing on a path toward profitability with a firm grasp on spend and fiscal management. Our financial position today is strong, and we are well-positioned to fuel our growth objectives. I'll now hand over to Mark to talk about those. Hello, everyone, and, thank you to, Susan and Margaret. As you can see, we've had a very strong FY 2024, and we're incredibly proud of our achievements. Our achievements are on the back of a disciplined execution and unwavering belief in our strategy. We've continued to achieve our annual growth targets globally, and we've continued to deliver growth in all regions while increasing our proportion of revenue share from a higher total addressable markets of North America and Australia. This shift has occurred alongside necessary internal changes to build a team and mindset that can capitalize on the investments we've made and achieve the growth in a sustainable and profitable way. Today, we are leaner, faster, and more focused than we ever have been, with absolute clarity around our direction and our continued ability to deliver on our goals. Now, to understand the business we are today, it's important to look at the journey we've been on to get here. From our roots of building the first electronic nationwide tolling system here in New Zealand, to providing a whole fleet offering of compliance, efficiency, safety, and sustainability tools for some of the largest fleets in the world. It has been nearly three years since we've announced the intent to acquire Coretex to accelerate growth, enhance the skills and capabilities of our team, increase our product offering, and expand our position in North America. Through realization of the value of the merger, the company that we are today is vastly different. Our connected units have almost doubled from 126,000 - 251,000, helping us to achieve the credibility, scale, and operating leverage needed to increase our competitive position in the markets. Prior to our merger, our team of approximately 495 EROADers and contractors were delivering revenue of around NZD 91 million. Our combined team size increased to approximately 640 at the completion of the merger, with our first full year of combined revenue of NZD 165 million. When looking at today's revenue of NZD 182 million, we've achieved it off a leaner team of around 530. At twice the pre-merger revenue, we're seeing an efficiency gain of 85%. We also seen benefits from our size and scale with our suppliers and partner contract negotiations. One recent example in North America, received just this month, will reduce our unit connectivity fees with a crucial OEM partner by up to 80%. These savings offer increased margins without the need to increase the pricing for our customers. We've remained resolute in our conviction that we'll merge as a high-performing business that customers, employees, and shareholders can be excited by. Their investment in Coretex will deliver our medium and long-term objectives by transforming our company to one that has the experience, reputation, and scale to meet the changing needs of the market. Change on this scale is never easy, and I want to thank our incredible team of EROADers who have displayed so much dedication and resilience through this time. They've shown that our culture innovation extends beyond our products and apply the same thinking to cost savings, developing new and efficient ways of working without compromising on quality, delivery, or speed. Importantly, alongside the changes, EROAD has continued to deliver new products and innovations, win new customers, while retaining and expand the ones we have, with high levels of service and product. And as we focus more on the large enterprise accounts, and especially verticals or construction refrigerated transportation, some notable successes for last year do include: First, our long-standing Kiwi customers of Fulton Hogan, Fulton Hogan, Hato Hone St John, Kinetic, and Tranzit all signed new contracts this year, reflecting a combined unit count of over 10,000 connections. We had a 25% unit growth in Australia with wins like construction giant, materials giant Boral, and facility maintenance provider Programmed. In refrigerated transportation for North America, we saw US Foods expand by over 1,200 units, and our channel partner, SkyBitz, increased orders for additional 1,500 new units. And of course, Sysco. This year, we successfully rolled out over 9,000 units, and have seen their orders increase by an additional 1,400 over the original contract. We also announced a partnership with refrigerated trailer OEM manufacturer, Thermo King, enabling customers to connect our software directly to their trailers without the need to purchase additional hardware. And we formalized a technology collaboration with Microsoft, accelerating our adoption of generative AI for product development. We've also had a very strong start to this financial year. Today, we're pleased to announce we've signed a new contract with an existing New Zealand enterprise customer for an additional 5,000 units in Australia. This contract also includes a renewal of 6,000 units and for their New Zealand fleet. Combined, this expansion elevates this customer into our top three globally in terms of overall unit count. This contract is a material milestone for EROAD, as it accounts for over 4% of EROAD's total global base and represents a 25% increase in our Australian unit base. Australia is a key growth market for EROAD, and this contract significantly boosts our footprint in this region. Renewals and expansion like this are a testament to the value of our products and services that we deliver to our customers, and is further evidence of our attractiveness to enterprise fleets and our successful Trans-Tasman expansion. We know where we've been going and have built the foundations and team to get us there. One key element of this is our new Co-CEO, David Kennison, who will now talk to you about some of the plans going forward. Good afternoon, everyone. It's a privilege to stand here before you today at this pivotal moment in EROAD's journey. Over the past few months, I've had the honor of meeting our customers, our partners, our investors, and our dedicated team of EROADers around the globe. Three questions constantly arise, and I'm excited to address them today. Number one, what are our plans for the future? Number two, what drew me to EROAD? And number three, and most importantly, what are the groundbreaking developments that I've witnessed since being here? At EROAD, we understand that true growth stems from our ability to identify and seize opportunities, whether it's forging strategic partnerships, expanding into new markets, developing cutting-edge technologies. I'm passionate about uncovering hidden gems that, with the right team and strategy, can deliver exceptional value. Our plan is not just to continue this approach, but to accelerate it, leveraging our strengths and embracing the transformative power of AI to revolutionize the transportation industry. So what drew me to EROAD? Well, the answer lies in the immense potential I see here. The company is a powerhouse of talent, innovation, and technological prowess. We're not just creating products, we're delivering sophisticated solutions that address critical challenges for some of the world's most iconic brands. The untapped potential here is staggering, and I'm thrilled to help lead EROAD into its next phase of growth and innovation. I'm acutely aware of the privileged position I hold, stepping into a company that has not only stabilized its core operations, but has positioned itself at the forefront of technological innovation in the transportation industry. Arriving at this critical juncture allows me to view our potential with fresh eyes, and I can assure you, the future of EROAD is not just exciting, it's revolutionary. One, where we're not just envisioning the future of transportation, but we're creating it. Globally, EROAD has established itself as a go-to solution for customers with complex operations that demand more than off-the-shelf fleet management solutions. Our strength lies in serving large enterprises, construction companies, and refrigerated transportation sectors, sectors where precision, efficiency, and reliability are paramount. While the scale of these contracts is attractive, there's a lot more to these customers worth mentioning. In today's complex logistics landscape, moving products from point A to point B is a multifaceted challenge. At the enterprise level, this complexity increases exponentially: larger fleets, extensive workforces, intricate systems, and significant reputational stakes. EROAD has demonstrated unparalleled expertise in operating at this scale. We're trusted by some of the world's largest fleets to support the very core of their operations, leveraging our advanced technology to optimize every aspect of their business. They trust that the concrete slab for your home will be a strong foundation because EROAD ensured it was delivered with the right mix and delivered on time. They trust that their fleets are compliant because our intelligent systems automate road user charges, tax lodgments, and driver hour management. Their drivers trust that their employees care about them, because EROAD solutions simplify vehicle maintenance, promote good driver behavior, and use predictive data to minimize incidents through smart alerting and suggestions. You can count that the breakfast that you picked up this morning with your coffee is safe to eat, because it was transported with our CoreTemp technology, ensuring optimal temperature control throughout its journey. The deep-rooted trust fosters a unique collaborative relationship with our customers. We're not just serving our providers with solutions, we're actually partnering with them. Many of our current products, including our latest AI innovations, were born from these partnerships. As we speak, we're piloting next-generation solutions across all our customers' fleets, pushing the boundaries of what is possible in transportation technology. Our customers' high expectations drive our relentless pursuit of excellence. We understand the future is built on a reputation for delivering cutting-edge solutions and service that consistently exceed these expectations. Innovation is our cornerstone of our competitive edge. We are strategically focusing leveraging AI to deliver superior products that not only boost our core capabilities, but also enrich our software ecosystem. For specialized add-ons, we collaborate with partners, ensuring we deliver a comprehensive, best-in-class solution to all of our customers. Now, I'm excited to introduce you to our latest innovation, our advanced AI-powered camera system technology. This technology represents a significant leap forward in fleet management and road safety. At its core, our AI camera system acts as an intelligent assistant for every vehicle in our customer's fleet. Using sophisticated machine learning algorithms, it continually analyzes road conditions, driver behavior, and potential hazards in real time. When it detects risks such as lane departures, tailgating, or signs of driver fatigue, the system provides immediate audio alerts to drivers, enhancing safety proactively. The AI camera system represents a significant leap forward in our mission to provide intelligent, data-driven solutions for the transportation industry. Turning to our refrigerated transport business, we're addressing a unique set of challenges. Beyond the usual transport hurdles, these customers must maintain precise temperature controls to ensure food safety and quality. Equipment malfunctions due to improper maintenance have long been a critical issue in this sector. Unlike dry goods that can wait roadside for a replacement vehicle, a refrigerated trailer breakdown often means a complete loss of load, a costly and wasteful outcome. Recognizing this industry-wide challenge, an AI-powered predictive maintenance tool for our cold chain solution has been developed. This innovative system analyzes each trailer's alert history to predict potential malfunctions before they occur. By assigning only healthy trailers to critical jobs, we're safeguarding our customers' bottom line. We're reducing loss loads. We're helping to decrease greenhouse gas emissions associated with waste. The response from our pilot customers has been overwhelmingly positive, and we're thrilled to announce that this game-changing solution will soon be available for general release in the markets, marking just another milestone in EROAD's commitment to driving innovation in the transportation industry. Now, in the construction sector, where time is money, our AI solutions are revolutionizing operations. Construction companies operate on tight schedules, aiming to maximize concrete pour while daylight lasts. With only 90 minutes between truck loading and potential cement rejection, every minute counts. EROAD's advanced AI assistant is transforming how dispatchers manage workflows, dramatically reducing wait times and minimizing lost loads. By analyzing complex web of historical and real-time data, including job requests and traffic patterns, our AI provides accurate, site wait time estimates. This allows customers to optimize their deliveries, redirecting loads to less congested sites, and significantly boosting overall efficiency. This is just a glimpse of the transformative power of our leading-edge solutions that we're bringing to the construction industry. EROAD's path is clear. With our continued investment in cutting-edge innovation, combined with our unwavering commitment to solving real-world problems, we're poised to redefine the standards of efficiency, reliability, and sustainability in the global transportation sector. Thank you. Mark? Thank you, David. Now, of course, knowing where we're going means knowing where we've been and come from, and building on those foundations. With the New Zealand government signaling a switch to universal road user charging, it opens up opportunities for over 3.6 million vehicles currently operating under the fuel excise duty model. EROAD currently collects over 85% of all eRUC in New Zealand, and 40% of the total government RUC take. And in addition to the government's shift to put all EV plug-in hybrids under RUC system, EROAD enabled our platform and hardware to support these vehicles to transition seamlessly to RUC from 1 April of this year. We continue to work closely with the government and other key stakeholders on the ecosystem that will be needed to enable time-of-use charging to unlock congestion. This will deliver significant productivity benefits to businesses and NZ Inc. While this work is relatively nascent, EROAD has the skills, technology, and experience to play a significant role in this emerging market. We are proud of our journey and the results of FY 2024. We're excited about the path forward as we continue to execute, to plan with focus, discipline, renewed energy, and speed. I will now hand back to Susan for the resolutions. Thank you, Mark. I'll now move to the resolutions. You'll have a chance to ask questions on each resolution, and then after following, moving those resolutions in the vote, we'll move on to general business and any questions that anybody from the floor has. So the first resolution is the election of David Green as a member of our board, and I'll ask David to come and speak to you briefly. Thank you, Susan, and good afternoon, everyone. It's been a privilege to serve you as a director of EROAD since August last year. As you've been hearing, it's an exciting time to be part of the company with its growth opportunities in Australia, New Zealand and North America. Using its track record for innovation, applying smart technology and data, and increasingly AI to help our customers be efficient, safer, and more sustainable. As an EROAD director, I bring my years of business management, leadership and governance experience, along with a track record of delivering for customers and a strong perspective of what shareholders and other stakeholders want. I've spent most of my year working in the constantly changing banking industry as a business leader and an advisor and banker to large international companies. In my roles, I've worked with boards of industries... boards and management of many large companies in, across a range of industries in Asia, Australia, and New Zealand. And through the privileged access that banks have through their customers, I've experienced the development of their strategies and the execution of those strategies, gaining insights into what has worked and what hasn't, and how they've dealt with the challenges they faced. I've led large teams across multiple countries and successfully built market leadership positions through having a clear strategy, being focused on delivering to them with end-to-end excellence. As a business leader, I've developed a track record in delivering large change programs to align businesses to their strategic advantages and to deliver improved returns. And I've been involved in critical technology investments, driving consolidation of systems, modernization of capability, better use of data, and automation of processes. My qualifications as a chartered accountant have given me a strong framework for analyzing, advising, and managing business, making investment decisions, and meeting reporting obligations. All of my experiences, skills, and insights I've gained throughout my career and through membership of other boards, and are invaluable to me as a director of EROAD and chair of EROAD's board's Finance, Risk and Audit Committee. I'm very proud of what the EROAD team is achieving and excited by the many opportunities the company has. I'm looking forward to continuing as a director with your support today. Thank you, David. Are there any questions for David or any questions that you'd like me to answer on behalf of the board? If there are no questions, I put the resolution to you that David Green, having been appointed by the board and only holding office until the ASM, be elected as a non-executive director of EROAD. Could you please fill in your forms or cast your vote online? The second resolution is the election of Cameron Kinloch. And Cameron, I'd like you to come and address everybody. Hi. Hi, everyone, I'm Cameron Kinloch, and I'm pleased to be up for election as a non-executive director of EROAD. I bring to this role over 20 years of experience in finance, having started my career on Wall Street, where I spent over 10 years at Morgan Stanley and Goldman Sachs, both in New York and in Hong Kong. For the past 12 years, I have helped lead, grow, and scale various companies in Silicon Valley through various stages of their life cycle, anywhere from 20 million in revenue, all the way up to 500 million +. Throughout that journey, I have developed deep experience in both enterprise software and in hardware businesses, having taken both of those types of companies through the IPO process in the U.S. I also bring experience on the corporate governance side, having served on three boards previously. In addition, given my experience, in the banking sector, I bring deep relationships in the banking community, as well as a keen understanding of both investor relations and what drives shareholder value. I look forward to bringing that experience to EROAD as well, to continue to drive additional shareholder value to you all. Thank you. Thank you, Cameron. Are there any questions of Cameron? We have one. Use the mic. Bruce. Bruce, thank you. Thanks. I'm Bruce Park, shareholder. Cameron, you have excellent skills and background from America. Would you look, as part of your professional developments, taking part in the NZ RegCo training modules on governance? Is this on? Yeah, so the short answer is yes, I am looking into it. So I'm only a few months into my journey here at EROAD, and so I'm working with the team here at EROAD to sign up for those training sessions, and we're looking at both virtual and/or in person. So, hopefully next year, when I see you, I will have completed them. Thank you, Bruce. Are there any other questions for Cameron? If there are no further questions, I'll put the resolution to the meeting that Cameron Kinloch, having been appointed by the board and only holding office until the annual shareholders meeting, be elected as a non-executive director of EROAD. Could you please cast your votes either on paper or online? Thank you. The third resolution for the meeting is the appointment of the auditors. The resolution that the directors be authorized to fix the fees and expenses of KPMG, who are the auditor of EROAD. Are there any questions with regards to that resolution? Thank you. Thank you. Grant Diggle, Shareholders Association. Just to give you a little background, we measure all the NZX companies across over 125 governance metrics to quantify the quality of governance. And I have to say that EROAD is up there amongst the very best. But, and there's always a but, the only area that we'd ask for more clarification about in the annual report is the audit fees, 'cause we note that unlike most companies, EROAD pays a quite a large percentage, 44% this year, of its fees to KPMG for non-audit, non-financial audit work. NZSA believes that, generally, over 25% of non-audit work, particularly where it's related to tax, should be undertaken by another audit firm to make sure of complete independence, notwithstanding the Chinese walls within audit firms. So knowing that most of those fees will be related to KPMG's audit around the RUCs, and that it would be, shall we say, another challenge to get another audit firm briefed and up to date with dealing with that matter, could we ask that next year, in the annual report, you clarify the situation, break out the amount of work and just explain how KPMG separates the financial audit from the RUC audit? Thank you very much. I might just let David add a bit more color to our reply on that. It is something that we look at very carefully as we make those decisions every year, and we'll continue to look at going forward. But David, perhaps I could let you address that as chair of our FRAC committee. Sure, thank you for the question. So it is something that we're obviously mindful of, and we had a discussion about it as a board for our disclosures in the financial statements for this year, and we've added some extra explanation from what was there last year to just help shareholders appreciate that some of the additional work that KPMG provides outside of their auditors' assurance work they're providing on the NZTA accounts, which is an important function, and they're a logical party to perform that.