• GYG did not publish earnings guidance for 1H25
• GYG's 1H25 earnings were in line with consensus estimates from sell-side analysts
• GYG continuously monitored earnings forecasts and was aware they were in line with market expectations

GYG has responded to an ASX Aware Letter, providing details on its 1H25 earnings results and how they compared to market expectations. The company did not publish earnings guidance for the half-year period, but is covered by 10 sell-side analysts whose forecasts GYG uses to estimate the market's earnings expectations. GYG adopts a consensus estimate methodology, taking the average across the analyst forecasts. As of 20 February 2025, the day before the results were released, GYG's assessment of the consensus estimate for key earnings measures was materially in line with the actual reported results. GYG continuously monitors its earnings forecasts relative to the market's expectations, formally assessing this at monthly disclosure committee meetings. The company was aware with a reasonable degree of certainty that its expected earnings for 1H25 were materially in line with consensus in the weeks leading up to the results announcement. GYG does not consider that, at any point prior to the release of the results, there was a variance between its expected earnings and the market's expectations of such a magnitude that would require disclosure under Listing Rules 3.1 and 3.1A.