Q3 2019 Non-Standard Finance PLC Corporate Sales Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Mark Thomas - Hardman & Co. - Analyst : You sort of touched on what I was actually going to ask, which is what's meant by the medium term? Because, I mean, if you say IFRS 9 is the cyclicality, so in due course, you'll move maybe 20% base or whatever, so the assumptions will change. But then you've given medium-term impairments, which are higher than return on assets, which are stable. So I'm just trying to understand what you're actually -- what your thinking is in terms of medium term. And why is the balance going up but the return on assets have been kept stable?

Question: Mark Thomas - Hardman & Co. - Analyst : And can I just get a bit of sense of if you -- or when at some stage you move to having a base case plus -- 50% base, 50% upside, do you get the same uplift as you've seen in terms of the downside that you're seeing this time?

Question: Mark Thomas - Hardman & Co. - Analyst : And with that -- sorry, final -- 3 questions on the same thing. Would that then uplift be the same or is it revised when you get more of a downside by building in a downside scenario and you'd get an uplift on the upside?