Monthly Adjusted Close Prices Name Issuer Code Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Dexus DXS 7.935 7.860 8.084 8.572 8.265 8.078 7.883 7.900 8.044 8.384 8.437 8.759 APA Group APA 35.681 42.074 38.231 38.657 39.017 41.689 31.729 35.752 38.275 37.387 43.696 43.237 Santos STO 3.508 3.751 4.199 4.740 5.085 4.758 4.702 4.730 5.729 5.467 5.850 5.953 Telstra Corporation Limited Xero Ltd TLS 3.408 3.241 3.288 3.186 3.371 3.408 3.143 2.946 2.983 2.627 2.458 2.664 XRO 23.820 28.390 30.900 28.250 28.660 31.470 31.760 33.440 38.030 40.970 45.010 42.800 1. Monthly Returns Name Issuer Code Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Dexus DXS -0.94% 2.80% 5.86% -3.65% -2.28% -2.44% 0.21% 1.81% 4.13% 0.64% 3.74% 6.16% APA Group APA 16.48% -9.58% 1.11% 0.93% 6.62% -27.30% 11.94% 6.82% -2.35% 15.59% -1.05% -4.83% Santos STO 6.69% 11.28% 12.12% 7.03% -6.64% -1.18% 0.59% 19.15% -4.67% 6.76% 1.74% 6.78% Telstra Corporation Limited TLS -5.03% 1.42% -3.16% 5.67% 1.10% -8.12% -6.47% 1.27% -12.73% -6.64% 8.06% 9.87% Xero Ltd XRO 17.55% 8.47% -8.97% 1.44% 9.35% 0.92% 5.15% 12.86% 7.45% 9.40% -5.03% 17.67% Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 8.759 9.315 9.176 8.863 9.089 9.461 10.227 10.708 11.349 11.136 11.474 11.763 11.889 11.690 10.811 10.847 43.237 41.198 44.807 35.769 33.216 24.820 31.279 31.622 33.033 31.579 25.016 27.798 23.684 20.920 24.828 21.244 5.953 6.370 6.821 6.239 5.187 5.149 6.079 6.582 6.497 6.839 6.411 6.735 6.877 6.946 7.447 7.822 2.664 2.941 3.026 2.922 2.779 2.703 2.950 2.997 3.179 3.237 3.495 3.687 3.802 3.591 3.389 3.369 42.800 51.070 49.000 39.780 39.880 42.020 43.530 47.500 48.650 54.450 59.810 59.940 64.920 63.470 62.290 68.990 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 6.16% -1.50% -3.47% 2.52% 4.01% 7.79% 4.60% 5.82% -1.90% 2.99% 2.48% 1.07% -1.69% -7.82% 0.33% 2.15% -4.83% 8.40% -22.53% -7.40% -29.14% 23.13% 1.09% 4.36% -4.50% -23.30% 10.55% -16.02% -12.41% 17.13% -15.59% 2.82% 6.78% 6.84% -8.93% -18.47% -0.73% 16.61% 7.95% -1.31% 5.14% -6.46% 4.92% 2.10% 0.99% 6.96% 4.92% 0.37% 9.87% 2.86% -3.51% -4.99% -2.77% 8.73% 1.59% 5.89% 1.79% 7.69% 5.33% 3.07% -5.70% -5.81% -0.57% 10.08% 17.67% -4.14% -20.85% 0.25% 5.23% 3.53% 8.73% 2.39% 11.26% 9.39% 0.22% 7.98% -2.26% -1.88% 10.22% 16.39% Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 11.083 10.847 11.792 11.273 8.427 8.492 8.344 8.740 8.084 8.388 8.445 8.179 9.281 9.201 8.819 8.712 21.852 25.098 27.120 24.630 4.131 12.966 10.696 13.382 15.244 14.698 9.405 8.264 12.834 14.129 14.239 19.673 7.851 7.880 8.371 6.645 3.328 4.806 5.215 5.157 5.128 5.545 4.772 4.626 6.024 6.132 6.367 7.137 3.726 3.418 3.707 3.339 2.989 2.969 3.154 3.047 3.261 2.841 2.733 2.635 3.018 2.930 81.280 80.000 85.580 73.650 67.910 79.530 85.270 90.110 89.940 100.970 100.750 110.150 132.500 146.820 3.067 129.890 3.056 118.430 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 -2.15% 8.36% -4.50% -29.10% 0.77% -1.76% 4.64% -7.80% 3.69% 0.68% -3.20% 12.64% -0.87% -4.24% -1.23% 9.12% 13.85% 7.75% -9.63% -178.54% 114.37% -19.25% 22.41% 13.03% -3.65% -44.65% -12.93% 44.02% 9.61% 0.78% 32.33% -9.73% 0.37% 6.05% -23.09% -69.17% 36.77% 8.16% -1.13% -0.57% 7.83% -15.00% -3.12% 26.42% 1.77% 3.76% 11.43% -1.81% -8.65% 8.13% -10.45% -11.09% -0.65% 6.04% -3.45% 6.79% -13.79% -3.88% -3.66% 13.59% -2.98% 4.59% -0.36% 9.88% -1.59% 6.74% -15.01% -8.11% 15.80% 6.97% 5.52% -0.19% 11.57% -0.22% 8.92% 18.47% 10.26% -12.25% -9.24% 6.62% Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 9.544 9.955 10.209 10.670 10.280 10.640 17.848 19.972 20.770 21.599 18.750 18.660 7.009 6.891 6.683 6.999 6.367 6.050 3.374 3.364 3.493 3.731 3.751 3.840 126.530 141.560 132.650 137.100 140.280 151.820 Apr-21 May-21 Jun-21 Jul-21 Aug-21 4.22% 2.52% 4.41% -3.72% 3.44% 11.24% 3.92% 3.91% -14.15% -0.48% -1.70% -3.05% 4.62% -9.46% -5.11% -0.29% 3.76% 6.60% 0.53% 2.34% 11.22% -6.50% 3.30% 2.29% 7.91% 2. Average Monthly Returns Issuer Code DXS APA STO TLS XRO 3. Variance-Covariance Matrix "Sig" 0.61% -1.35% 1.14% 0.25% 3.86% Issuer Code DXS APA STO TLS XRO DXS 0.38% 1.26% 0.58% 0.18% 0.24% APA 1.26% 12.20% 4.30% 0.60% 0.89% STO 0.58% 4.30% 2.12% 0.37% 0.58% TLS 0.18% 0.60% 0.37% 0.44% 0.15% XRO 0.24% 0.89% 0.58% 0.15% 0.92% 1. Weights of Stocks DXS APA STO TLS XRO Portfolio W1 W2 W3 W4 W5 1 99.26% 1.45% -18.94% 67.20% -48.97% 2 90.75% -0.35% -15.17% 59.35% -34.59% 3 81.47% -2.30% -11.05% 50.80% -18.91% 4 72.18% -4.26% -6.93% 42.24% -3.24% 5 63.91% -6.00% -3.26% 34.61% 10.74% 6 54.39% -8.00% 0.96% 25.84% 26.81% 7 45.89% -9.80% 4.74% 18.00% 41.17% 8 36.60% -11.75% 8.85% 9.45% 56.85% 9 27.32% -13.71% 12.97% 0.89% 72.52% 10 18.68% -15.53% 16.81% -7.08% 87.12% 2. Monthly Expected Return and Risk Portfolio Monthly Ret Std Dev. 1 -1.35% 7.59% 2 -0.80% 6.57% 3 -0.20% 5.65% 4 0.40% 5.03% 5 0.93% 4.84% 6 1.55% 5.09% 7 2.10% 5.69% 8 2.70% 6.62% 9 3.30% 7.74% 10 3.86% 8.90% 3. Diagram for Efficient Frontier Expected Returns 4.00% 2.00% 0.00% -2.00% 5.00% 6.00% 7.00% 8.00% Standard Deviation