eKourier April 2020

MESSAGE FROM SAM A s I write this, Covid-19 is affecting us all. The govern - ments around the world are ruin being inflicted on millions of people is devastating and tragic. Unemploy- ment would have already touched all of us. We all know someone affected by this.

Covid-19 will indeed be one of history’s defining moments. Like the Depres - sion; both World Wars; other wars; the Recession of the early ‘90’s; and September 11, and this will pass but it will change the world forever. Thankfully, there is great support throughout the business to do what it takes; to adjust; to continue to operate and tackle the challenges. The engage- ment and attitude is wonderful to see and appreciated. While I am mindful of all the families that depend on the business, we can be grateful that KSS is a sound and robust business. This is thanks to the decisions and efforts of many people over many years. We are long established, with strong occupancy and resilient income at this time, we are well placed for further challenges. It is a relatively good place to be. I thank you all for the support and positive attitude as we go through this.

wrestling with the twin dilemmas of crushing the virus while not crushing the economy. These are vexing and wicked problems. We should be glad it is not us having to make these decisions. Each government is taking slightly differing pathways. There is also no shortage of advice, opinions and critics. Whether the options to bluntly close whole sectors and movement, or alternatively try to be more surgical and iterative - and which is correct, may only become apparent in the future. At the moment, while they are trying their best it is also clear the governments are making this up as they go along. The failures, bureaucratic dysfunction and overreach of government is also on full display. I am particularly struck by the masses of business closures and job losses. The government is closing business sectors without notice. The impact and

My whole career I have been mindful of not just the individuals, but also their families, that depend on KSS. Now in 2020, the lives and wellbeing of over 280 families rely on the strength and profitability of our business. Keeping our business operating and sustaining our activities, so that all of our people remain gainfully employed, is vitally important. The Leadership Team have shown strong conviction to ensure we continue our activities and operations. As governments muddle through this, we have been confronted by surprises and challenges. Movement and social restrictions and strict lockdowns have been interesting developments. The governments have been erratic, ambiguous and given a range of mixed messages. Some leaders have promoted fear over hope. The profound stupidity and selfishness of hoarding. While the media illuminate the negative. It is understandable for many of us to get worried.

Sam Kennard Chief Executive Officer

3 Kennards Kourier April 2020

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