1Discussion of JB HiFi alternative sources of revenue

2Identifies JB HiFi geographic boundaries

3 Industry analysts - research

• Discussion of number of analysts following the firm
• Provide summary forecasts of the analysts and summary of recommendations
• Discussion of factors affecting analyst incentives: e.g. analyst experience, brokerage house or relationship between analyst and company being valued

4 Industry analysts - discussion and analysis

• Number of analysts, and analyst incentives linked to information asymmetry, liquidity, and to potential bias in analyst forecasts
• Conclusion relates analyst recommendations and forecasts to industry analysis and valuation of the company