• The new strategy "To inspire and support a lifetime of motoring and cycling"
• The dynamics of the motoring and cycling markets, including both current and future market and sector trends
• The impact of foreign exchange volatility due to Brexit
• Gross and operating margin performance
• Medium-term financial targets, with particular focus on, increasing free cash flow over the period FY19 to FY21 compared to three years ago, and growing the ordinary dividend every year
• Board and management changes and succession planning
• Capital allocation priorities, in particular, maintaining a prudent balance sheet and investment for growth.

The Chairman is responsible for ensuring that appropriate channels of communication are established between Directors and shareholders and that Directors are aware of any issues or concerns that major Shareholders may have. Regular engagement provides investors with an opportunity to discuss any areas of interest and raise concerns. The Group is eager to make sure that it understands Shareholders' views and that it is able to communicate its strategy in the most effective way. The Group engages through regular communications, the Annual General Meeting and other investor relations activity (such as the investor perception study).

The Group has a comprehensive investor relations ("IR") programme through which the Chief Executive Officer, Chief Financial Officer and the Head of Investor Relations regularly engage with the Company's largest shareholders on a one-to-one basis, to discuss strategic issues and give presentations on the Group's results. Further communication is achieved through the Annual Report and Accounts, corporate website and investor meetings as follows:

• Annual Report and Accounts – this is the most significant communication tool, ensuring that investors are kept fully informed regarding Group developments. Management continually strives to produce a clear and easily accessible Annual Report and Accounts, which provides a complete and transparent picture;
• the corporate website – provides investors with timely information on the Group's performance as well as details of corporate social responsibility activities;
• management roadshows – allow key investors access to management. These are usually attended by the Chief Executive Officer, the Chief Financial Officer and the Head of Investor Relations;
• attending broker conferences – management regularly attends and presents at various conferences hosted by a variety of brokers to ensure a wide variety of existing shareholders and potential shareholders, including those from different geographies, also have access to management so that the strategy and performance of the Company can be explained; and,
• responding promptly – the Group is committed to responding to any investor related queries within a short time frame.