Slide 1

Slide 1 text

6OMPDLJOHUIF1PUFOUJBMPG 1SPQFSUZ#BTFE5FTUJOHXJUI3BDUPS .BTBUP0ICB !PICBSZF 3VCZ,BJHJ SVCZLBJHJ#

Slide 2

Slide 2 text

*OUSPEVDUJPO 5IJTUBMLGPDVTFTPOUPQJDT 1SPQFSUZCBTFEUFTUJOH 3BDUPS 'JSTU MFUNFBTLZPVRVFTUJPOT "UFTUJOHNFUIPEPMPHZ 3VCZ`T"DUPSMJLF DPODVSSFOUBCTUSBDUJPO

Slide 3

Slide 3 text

$BMDVMBUJOH )BWFZPVIFBSEPGQSPQFSUZCBTFEUFTUJOH %POUXPSSZ *MMFYQMBJOMBUFS

Slide 4

Slide 4 text

$BMDVMBUJOH )BWFZPVIFBSEPG3BDUPS %POUXPSSZ *XPOUFYQMBJO3BDUPSJOUIJTUBML TJODFJUT3VCZ,BJHJ BOEZPVSFUSBJOFE3VCZJTUT

Slide 5

Slide 5 text

$BMDVMBUJOH )BWFZPVVTFE3BDUPS 8PSL IPCCZQSPKFDUTPSBOZ *HVFTTUIBUNPTUQFPQMFUIJOLUIFSFTOP VTFDBTFT PQQPSUVOJUJFTPG3BDUPS FWFOBU3VCZ,BJHJ

Slide 6

Slide 6 text

)ZQPUIFTJT 1SPQFSUZCBTFEUFTUJOHDBOCF BHPPEVTFDBTFPG3BDUPS

Slide 7

Slide 7 text

*OUSPEVDUJPO 8IBUJTQSPQFSUZCBTFEUFTUJOH )PXEPFT3BDUPSVOMPDLUIFQPUFOUJBM 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT 'JOEJOHT 0VUMJOF

Slide 8

Slide 8 text

8IBUJTQSPQFSUZCBTFEUFTUJOH

Slide 9

Slide 9 text

#FGPSFEJWJOHJOUPQSPQFSUZCBTFE SFNFNCFSPVSPSEJOBSZUFTUT 8IBUJTQSPQFSUZCBTFEUFTUJOH 5IJOLFYBNQMFT JOQVUWBMVFTBOE DPSSFTQPOEJOHPVUQVUT 3VOUFTUTPOB DPNQVUFS 8SJUFFYBNQMFTBTUFTUT <> < > <> <> OJM

Slide 10

Slide 10 text

✅ &BTZUPXSJUFBOEVOEFSTUBOE ✅ 6TFGVMUPFOTVSFPVSQSPHSBN XPSLTBTFYQFDUFE ❌ 0OMZ fi OETCVHTUIBUB QSPHSBNNFSQSFEJDUFE &YBNQMFCBTFEUFTUJOH 8IBUJTQSPQFSUZCBTFEUFTUJOH 8IBUJGBOFNQUZBSSBZJTHJWFO

Slide 11

Slide 11 text

w #VHTUIBUDPVMEOPUCFQSFEJDUFEBUBMMBSFMFGUCFIJOE w #VHTEJTDPWFSFEJOQSPEVDUJPOBSFVOFYQFDUFECVHT 1SPCMFNTFYBNQMFCBTFEUFTUJOHEPFTOUTPMWF 8IBUJTQSPQFSUZCBTFEUFTUJOH 5IBUTPOFPGUIFNPUJWBUJPOPGQSPQFSUZCBTFEUFTUJOH *G*DPVMEEJTDPWFSVOFYQFDUFECVHTJOBEWBODF UIFSFXJMMCFGFXFSCVHTJOQSPEVDUJPO

Slide 12

Slide 12 text

w (FOFSBUFIVOESFET UIPVTBOETPGUFTUJOQVUT BUSBOEPN w %FTDSJCFUFTUUBSHFUT QSPQFSUZ OPUBOFYBNQMF 1SPQFSUZCBTFEUFTUJOH 8IBUJTQSPQFSUZCBTFEUFTUJOH 3BOEPNJTO`USFBMMZSBOEPN$POUSPMMFEBOESFQSPEVDJCMFSBOEPNOFTT

Slide 13

Slide 13 text

8IBUJTQSPQFSUZCBTFEUFTUJOH .PWJFEFNP

Slide 14

Slide 14 text

FTTFODFTPGQSPQFSUZCBTFEUFTUJOH 8IBUJTQSPQFSUZCBTFEUFTUJOH (FOFSBUPS "SCJUSBSZ 1SPQFSUZ 4ISJOLJOH 1 2 3

Slide 15

Slide 15 text

(FOFSBUPS "SCJUSBSZ 8IBUJTQSPQFSUZCBTFEUFTUJOH <> < > < > 1

Slide 16

Slide 16 text

1SPQFSUZ 8IBUJTQSPQFSUZCBTFEUFTUJOH w "QSPQFSUZDBOCF FYQSFTTFEBTGPMMPX w GPSBOZ Y Z TVDIUIBU QSFDPOEJUJPO Y Z IPMET QSFEJDBUF Y Z JT USVF 2

Slide 17

Slide 17 text

4ISJOLJOH 8IBUJTQSPQFSUZCBTFEUFTUJOH w *UUSJFTUPTISJOLUIF GBJMFEWBMVFTPUIBUZPV DBOEFCVHXJUIFBTF w *USFQFBUTTISJOL QSPDFTTVOUJMJU fi OET UIFNJOJNVN DPVOUFSFYBNQMF 3 -FUTTFFEFNPMBUFS

Slide 18

Slide 18 text

#FOF fi UTPGQSPQFSUZCBTFEUFTUJOH 8IBUJTQSPQFSUZCBTFEUFTUJOH w $BOUFTUNPSFJOQVUT w $BOUFTUNPSFEJWFSTF JOQVUT w $BOF ff PSUMFTTMZ fi OE DPVOUFSFYBNQMFT

Slide 19

Slide 19 text

8IBUJTQSPQFSUZCBTFEUFTUJOH &YBNQMFCBTFEUFTUJOH 1SPQFSUZCBTFEUFTUJOH $PEFMJOFT ❌3FEVOEBOU ✅$PODJTF $PWFSBHF ❌%FQFOETPOQSPHSBNNFST ✅.PSFEJWFSTFJOQVUT -FBSOJOHDVSWF ✅&BTZUPVOEFSTUBOE ❌)BSEUPNBTUFS &YFDVUJPOUJNF ✅'BTU ❌5BLFTNPSFUJNF $PNQBSJTPO

Slide 20

Slide 20 text

2%PFTJUSFQMBDFFYJTUJOHUFTUTDPNQMFUFMZ "/P 8IBUJTQSPQFSUZCBTFEUFTUJOH 5IFPSJHJOBMDIBSUJTIUUQTNFEJVNDPNDSJUFPFOHJOFFSJOHJOUSPEVDUJPOUPQSPQFSUZCBTFEUFTUJOHGE &YBNQMFCBTFEUFTUJOHIFMQTVT CFDPO fi EFOUUIBUPVSDPEFQFSGPSNT BTXFFYQFDU 1SPQFSUZCBTFEUFTUJOHIFMQTVT FYQMPSFUIFCFIBWJPSPGBQSPHSBNUP TFFXIBUJUDBOBOEDBOUEP BOE EFUFSNJOFXIFUIFSPVSBTTVNQUJPOT BSFDPSSFDU

Slide 21

Slide 21 text

w *UTIJTUPSZJTMPOH w IUUQTJFFFYQMPSFJFFFPSH EPDVNFOU w IUUQTEMBDNPSHEPJBCT w IUUQTEMBDNPSHEPJ 2%PFTJUIBWFUSBDLSFDPSET ":FT BMPU 8IBUJTQSPQFSUZCBTFEUFTUJOH

Slide 22

Slide 22 text

5SBDL3FDPSET1SPKFDU'*'0 8IBUJTQSPQFSUZCBTFEUFTUJOH IUUQTXXXFSMBOHGBDUPSZDPNTUBUJDVQMPBENFEJBQCUFSMBOHGBDUPSZQQUYQEG

Slide 23

Slide 23 text

5SBDL3FDPSET(PPHMF-FWFM%# 8IBUJTQSPQFSUZCBTFEUFTUJOH IUUQTIUNMQSFWJFXHJUIVCJP IUUQTSBXHJUIVCDPNTUSBOHFMPPQMBNCEBKBNNBTUFSTMJEFT/PSUPO 2VJDL$IFDLIUNM

Slide 24

Slide 24 text

5SBDL3FDPSETCZGBTUDIFDL 8IBUJTQSPQFSUZCBTFEUFTUJOH IUUQTGBTUDIFDLEFWEPDTJOUSPEVDUJPOUSBDLSFDPSE

Slide 25

Slide 25 text

w 'V[[JOHJTGFFEJOHBQJFDFPGDPEF GVODUJPO QSPHSBN FUD EBUB GSPNBMBSHFDPSQVT QPTTJCMZEZOBNJDBMMZHFOFSBUFE QPTTJCMZ EFQFOEFOUPOUIFSFTVMUTPGFYFDVUJPOPOQSFWJPVTEBUB JOPSEFS UPTFFXIFUIFSJUGBJMT w 1SPQFSUZCBTFEUFTUJOHJTUIFDPOTUSVDUJPOPGUFTUTTVDIUIBU XIFOUIFTFUFTUTBSFGV[[FE GBJMVSFTJOUIFUFTUSFWFBMQSPCMFNT XJUIUIFTZTUFNVOEFSUFTUUIBUDPVMEOPUIBWFCFFOSFWFBMFECZ EJSFDUGV[[JOHPGUIBUTZTUFN 28IBUBCPVUGV[[JOH 8IBUJTQSPQFSUZCBTFEUFTUJOH IUUQTIZQPUIFTJTXPSLTBSUJDMFTXIBUJTQSPQFSUZCBTFEUFTUJOH

Slide 26

Slide 26 text

)PXEPFT3BDUPSVOMPDLUIFQPUFOUJBM

Slide 27

Slide 27 text

2VJDLSFDBQPG3BDUPS )PXEPFT3BDUPSVOMPDLUIFQPUFOUJBM IUUQTHJUIVCDPNSVCZSVCZCMPCW@@EPDSBDUPSNE

Slide 28

Slide 28 text

w $BTFXIFOSVOOJOHTPNF$16 CPVOEJTPMBUFEUBTLT w "TGPS5ISFBE BOVNCFSPG QBSBMMFMJTNJTBUNPTUEVFUP(7- .VMUJUISFBEJOHEPFTOUTQFFEVQ $16CPVOEUBTLTJOHFOFSBM w #VU3BDUPSDBOQBSBMMFMJ[FVQUPB OVNCFSPG$16DPSFT 8IBULJOEPGVTFDBTFJTTVJUBCMFGPS3BDUPS )PXEPFT3BDUPSVOMPDLUIFQPUFOUJBM

Slide 29

Slide 29 text

w *USVOTIVOESFETPGUFTUDBTFT w &BDIDBTFEPFTOUEFQFOEPO QSFWJPVTPSTVCTFRVFOUDBTFT w -PUTPGUBTLTUIBUEPOU JOUFSGFSFFBDIPUIFS 8IBUBCPVUQSPQFSUZCBTFEUFTUJOH )PXEPFT3BDUPSVOMPDLUIFQPUFOUJBM 5IJTUBMLGPDVTFTPOTUBUFMFTTQSPQFSUZCBTFEUFTUJOHPOMZ *UTFFNTBHPPEDBOEJEBUFPGBVTFDBTFPG3BDUPS

Slide 30

Slide 30 text

w *GFBDIJUFSBUJPOUBLFT NT PWFSBMMFYFDVUJPO UBLFT/UJNFTTMPXFS w &YJTUJOHNPTUQSPQFSUZ CBTFEUFTUJOHUPPMTSVO UFTUTTFRVFOUJBMMZ )PXEPFT3BDUPSVOMPDLUIFQPUFOUJBM $PEFMJOFT ✅-FTTDPEF $PWFSBHF ✅.PSFEJWFSTFJOQVUT -FBSOJOHDPTU ❌)BSEUPNBTUFS &YFDVUJPOUJNF ❌5BLFNPSFUJNF 3FDBQQSPQFSUZCBTFEUFTUJOHTXFBLQPJOUT

Slide 31

Slide 31 text

)PXEPFT3BDUPSVOMPDLUIFQPUFOUJBM .PWJFEFNP

Slide 32

Slide 32 text

*UTXPSUIUPUSZ

Slide 33

Slide 33 text

5FTUJOHUPPMJNQMFNFOUBUJPO UPWFSJGZUIFIZQPUIFTJT

Slide 34

Slide 34 text

1SPQFSUZCBTFEUFTUJOHUPPMIUUQTHJUIVCDPNPICBSZFQCU 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT $SFEJU3VCZFDPTZTUFNBMSFBEZIBTQSJPSXPSLT IUUQTHJUIVCDPN2RXZSVCZQSPQ@DIFDL IUUQTHJUIVCDPNSBOUMZSCSBOUMZ w 5IFHFNEPFTOUBJNUP w TQFFEVQFYJTUJOHFYBNQMFCBTFEUFTUT w SFJNQMFNFOUBUFTUJOHGSBNFXPSL w 5IFHFNBJNTUP w BMMPXZPVUPXSJUFQSPQFSUZCBTFEUFTUT XJUIFBTF w SVOUIPTFUFTUTDPODVSSFOUMZJGOFDFTTBSZ

Slide 35

Slide 35 text

%&.0

Slide 36

Slide 36 text

3VOOFS 3VOOFS*UFSBUPS 3VO&YFDVUJPO 3VO%FUBJMT3FQPSUFS "SCJUSBSZ 1SPQFSUZ *OUFSOBMEFTJHOPG 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT 1 2 3 4

Slide 37

Slide 37 text

5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT 1SPQFSUZ !QSFEJDBUF !BSCJUSBSZ HFOFSBUF TISJOL SVO 3VOOFS BTTFSU DIFDL 3VO%FUBJMT3FQPSUFS !SVO@EFUBJMT SFQPSU@SVO@EFUBJMT "SCJUSBSZ HFOFSBUF TISJOL 3VOOFS*UFSBUPS !SVO@FYFDVUJPO !QSPQFSUZ 3VO&YFDVUJPO !GBJMVSFT !FYFDVUJPO@USFFT UP@SVO@EFUBJMT $SFEJU*SFGFSSFEGBTUDIFDLTEFTJHOIUUQTGBTUDIFDLEFW *OUFSOBMEFTJHOPG

Slide 38

Slide 38 text

5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT 1SPQFSUZ !QSFEJDBUF !BSCJUSBSZ HFOFSBUF TISJOL SVO 3VOOFS BTTFSU DIFDL 3VO%FUBJMT3FQPSUFS !SVO@EFUBJMT SFQPSU@SVO@EFUBJMT "SCJUSBSZ HFOFSBUF TISJOL 3VOOFS*UFSBUPS !SVO@FYFDVUJPO !QSPQFSUZ 3VO&YFDVUJPO !GBJMVSFT !FYFDVUJPO@USFFT UP@SVO@EFUBJMT 3VOOFS3VOOFS*UFSBUPS 1 5IFZIBOEMFUIFUFTUJOH fl PX (FOFSBUFJOJUJBMWBMVFT 3VOBUFTU 3FDPSESFTVMU 4ISJOLJGBUFTUGBJMT

Slide 39

Slide 39 text

5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT 1SPQFSUZ !QSFEJDBUF !BSCJUSBSZ HFOFSBUF TISJOL SVO 3VOOFS BTTFSU DIFDL 3VO%FUBJMT3FQPSUFS !SVO@EFUBJMT SFQPSU@SVO@EFUBJMT "SCJUSBSZ HFOFSBUF TISJOL 3VOOFS*UFSBUPS !SVO@FYFDVUJPO !QSPQFSUZ 3VO&YFDVUJPO3VO%FUBJMT3FQPSUFS 3VO&YFDVUJPOIPMET UFTUSFTVMU 'BJMFEWBMVFTBOE FYDFQUJPOTFUD 3VO%FUBJMT3FQPSUFS GPSNBUTSFTVMUGPS QSPHSBNNFST 2 3VO&YFDVUJPO !GBJMVSFT !FYFDVUJPO@USFFT UP@SVO@EFUBJMT

Slide 40

Slide 40 text

5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT 1SPQFSUZ !QSFEJDBUF !BSCJUSBSZ HFOFSBUF TISJOL SVO 3VOOFS BTTFSU DIFDL 3VO%FUBJMT3FQPSUFS !SVO@EFUBJMT SFQPSU@SVO@EFUBJMT "SCJUSBSZ HFOFSBUF TISJOL 3VOOFS*UFSBUPS !SVO@FYFDVUJPO !QSPQFSUZ 3VO&YFDVUJPO !GBJMVSFT !FYFDVUJPO@USFFT UP@SVO@EFUBJMT 1SPQFSUZ 3

Slide 41

Slide 41 text

5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT 1SPQFSUZ !QSFEJDBUF !BSCJUSBSZ HFOFSBUF TISJOL SVO 3VOOFS BTTFSU DIFDL 3VO%FUBJMT3FQPSUFS !SVO@EFUBJMT SFQPSU@SVO@EFUBJMT "SCJUSBSZ HFOFSBUF TISJOL 3VOOFS*UFSBUPS !SVO@FYFDVUJPO !QSPQFSUZ 3VO&YFDVUJPO !GBJMVSFT !FYFDVUJPO@USFFT UP@SVO@EFUBJMT "SCJUSBSZ 4

Slide 42

Slide 42 text

5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT 1SPQFSUZ !QSFEJDBUF !BSCJUSBSZ HFOFSBUF TISJOL SVO 3VOOFS BTTFSU DIFDL 3VO%FUBJMT3FQPSUFS !SVO@EFUBJMT SFQPSU@SVO@EFUBJMT "SCJUSBSZ HFOFSBUF TISJOL 3VOOFS*UFSBUPS !SVO@FYFDVUJPO !QSPQFSUZ 3VO&YFDVUJPO !GBJMVSFT !FYFDVUJPO@USFFT UP@SVO@EFUBJMT %JWFJOUP"SCJUSBSZ

Slide 43

Slide 43 text

"SCJUSBSZ˺(FOFSBUPS 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT

Slide 44

Slide 44 text

0UIFSQSJNJUJWFBSCJUSBSJFT 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT

Slide 45

Slide 45 text

$PNQPTJUFBSCJUSBSJFT 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT

Slide 46

Slide 46 text

.BQ'JMUFSBSCJUSBSJFT 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT w 4PNFBSCJUSBSJFTBSFNBEF PGTVDIBDPNQPTJUJPO

Slide 47

Slide 47 text

5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT 1SPQFSUZ !QSFEJDBUF !BSCJUSBSZ HFOFSBUF TISJOL SVO 3VOOFS BTTFSU DIFDL 3VO%FUBJMT3FQPSUFS !SVO@EFUBJMT SFQPSU@SVO@EFUBJMT "SCJUSBSZ HFOFSBUF TISJOL 3VOOFS*UFSBUPS !SVO@FYFDVUJPO !QSPQFSUZ 3VO&YFDVUJPO !GBJMVSFT !FYFDVUJPO@USFFT UP@SVO@EFUBJMT %JWFJOUP1SPQFSUZ

Slide 48

Slide 48 text

1SPQFSUZ 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT w 4JNQMZIPMETBOBSCJUSBSZBOEBVTFS EF fi OFEUFTUDPEFDBMMFEA!QSFEJDBUFA w %FMFHBUFAHFOFSBUFABOEATISJOLAUP A!BSCA

Slide 49

Slide 49 text

1SPQFSUZ 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT w *UIBTNFUIPETUPDBMM A!QSFEJDBUFA w 0OFJTKVTUUPDBMMBCMPDL w 5IFPUIFSJTUPQBTTUIF CMPDLUP3BDUPS

Slide 50

Slide 50 text

*OUFSOBMEFTJHO8IZ 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT 1SPQFSUZ !QSFEJDBUF !BSCJUSBSZ HFOFSBUF TISJOL SVO 3VOOFS BTTFSU DIFDL 3VO%FUBJMT3FQPSUFS !SVO@EFUBJMT SFQPSU@SVO@EFUBJMT "SCJUSBSZ HFOFSBUF TISJOL 3VOOFS*UFSBUPS !SVO@FYFDVUJPO !QSPQFSUZ 3VO&YFDVUJPO !GBJMVSFT !FYFDVUJPO@USFFT UP@SVO@EFUBJMT 1 2 3 4 $PODVSSFODZJTBCPVUTUSVDUVSF XIFSFBTQBSBMMFMJTNJTBCPVUFYFDVUJPO &YJTUJOH3VCZHFNTGPSQSPQFSUZCBTFEUFTUJOHEPFTOUIBWFBTUSVDUVSFGPSUIBU IUUQTHPDPNJYJOHVQDPODVSSFODZBOEQBSBMMFMJTN

Slide 51

Slide 51 text

/PUBCMFGFBUVSFTPG 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT 3FQSPEVDFGBJMFEUFTUTXJUIBTFFE 7FSCPTFNPEFUPTIPXTISJOLJOHQSPDFTT 4VQQPSUNVMUJQMFDPODVSSFODZNPEFMT 1BSUJBM34QFDJOUFHSBUJPOXJUI3BDUPS 1 2 3 4

Slide 52

Slide 52 text

3FQSPEVDFGBJMFEUFTUTXJUIBTFFE 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT 4BNFBT34QFDTATFFEAPQUJPOIUUQTSTQFDJOGPGFBUVSFTSTQFDDPSFDPNNBOEMJOFPSEFS 1

Slide 53

Slide 53 text

3FQSPEVDFGBJMFEUFTUTXJUIBTFFE 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT 3BOEPNOFTTDBOCFEFUFSNJOJTUJDXJUIBTFFE 1

Slide 54

Slide 54 text

7FSCPTFNPEFUPTIPXTISJOLJOHQSPDFTT 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT *UTVTFGVMUPUSBDLTISJOLJOHQSPDFTTBOEEFCVH 2

Slide 55

Slide 55 text

4VQQPSUNVMUJQMFDPODVSSFODZNPEFMT 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT 5IJTGFBUVSFJTGPSBCFODINBSLSBUIFSUIBOVTBCJMJUZ-FUTMPPLJOUPJUMBUFS w OPOF w SBDUPS w QSPDFTT w UISFBE 5IJTGFBUVSFVTFTQBSBMMFMHFNXIFOVTJOHAQSPDFTTAPSAUISFBEAIUUQTHJUIVCDPNHSPTTFSQBSBMMFM 3

Slide 56

Slide 56 text

&YQFSJNFOUBM 1BSUJBM34QFDJOUFHSBUJPOXJUI3BDUPS 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT 4

Slide 57

Slide 57 text

8IZEJ ff i DVMU 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT 4 (JWFOCMPDLXJMMCFJTPMBUFEGSPNPVUFSTDPQF $BOUQBTTVOTIBSFBCMFPCKFDUTMJLF1SPD #JOEJOHT

Slide 58

Slide 58 text

1BTTJOHDMBTTNFUIPEOBNFTJTIPXZPVDBOSVOBSCJUSBSZDPEFJO3BDUPS 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT IUUQTHJUIVCDPNHSPTTFSQBSBMMFM IUUQTSVCZLBJHJPSHUBLFPVUQSFTFOUBUJPOTWJOJTUPDLIUNM -PVQFHFN 1BSBMMFMHFN

Slide 59

Slide 59 text

0, *OFFEUPEZOBNJDBMMZQSFQBSFBDMBTT 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT

Slide 60

Slide 60 text

w 6TF1SJTN w *UIBTBGFBUVSFUPXBMLUISPVHI BOZOPEFPGBTZOUBYUSFF w 5IJTGFBUVSFBMMPXTVTUPPCUBJO BDPEFGSPNBOZQBTTFEQSPD )PXUPPCUBJOBVTFSEF fi OFEDPEFCMPDLBT4USJOH 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT

Slide 61

Slide 61 text

5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT

Slide 62

Slide 62 text

"DUVBMDPEFMPPLT 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT w *OPSEFSUPEF fi OF BNFUIPEXJUI DMBTT@FWBM XF OFFENFUIPE QBSBNTBOECPEZ BT4USJOHT

Slide 63

Slide 63 text

1BTTDMBTT@OBNF NFUIPE@OBNFUP3BDUPSBOEMFUJUSVO 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT *UTFFNTXPSLSFBMMZ

Slide 64

Slide 64 text

4UJMMOPUFOPVHI 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT *GZPVXBOUUPSFBEUIFBDUVBMDPEF TFFIUUQTHJUIVCDPNPICBSZFQCUQVMM 34QFDVTFTABVUPMPBEACVUJUTQSPIJCJUFEUP ASFRVJSFAJOB3BDUPS*OFFEUPQSFMPBE 34QFDNBUDIFSTFUTNPEVMFWBSJBCMFT 4LJQJUJOOPONBJO3BDUPSBOEDBMMJU MBUFSJONBJO3BDUPS 5IFTFNBHJDTBMMPXVTUPVTF 34QFD.BUDIFSJO3BDUPS

Slide 65

Slide 65 text

'JOBMMZJUXPSLT 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT *UDBOCFBRVJUFUPVHIXPSLUPNBLFPVS PSEJOBSZDPEFCFBCMFUPSVOJO3BDUPS #VU*LOPX*VTFEBRVJUFEBOHFSPVT XBZUPLFFQTVQQPSUJOH 5IJTGFBUVSFDPVMECFSFNPWFE😭 -FTTPO

Slide 66

Slide 66 text

#FODINBSL

Slide 67

Slide 67 text

#FODINBSLGPSDPODVSSFODZNPEFMTYUFTUUBSHFUT 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT 8PSLFS 8PSLFSDPVOU *OUIJT CFODINBSL 3BDUPS PGDBTFT PSNPSF 1SPDFTT PGDPSFTPOBNBDIJOF 5ISFBE PGDPSFTPOBNBDIJOF /POF 0OF+VTUSVOTBMMDBTFT TFRVFOUJBMMZ

Slide 68

Slide 68 text

4JNQMFUBTL 4JNQMFUBTLCVUGBJMVSF w /FJUIFS$16CPVOEOPS*0CPVOE w *UKVTUSVOTBUFTUUJNFTGPSFBDIHFOFSBUFEWBMVF w /FJUIFS$16CPVOEOPS*0CPVOE w 4ISJOLJOHIBQQFOTUJNFTXJUIBHJWFOTFFE UFTUUBSHFUT 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT

Slide 69

Slide 69 text

$16CPVOE *0CPVOE w 5BSBJGVODUJPOXJUI XIJDIDBVTFT UJNFTNFUIPEDBMMT w 5IJTCFODINBSLVTFTADPOTUBOUABSCJUSBSZ UP fi YJOQVUWBMVFT w *USFBETB fi MFUIBUDPOUBJOTQBSBHSBQIT XPSET CZUFT w *XBOUFEUPDBMMBOFUXPSL%#DBMMIFSFCVU XBTOUBCMFEVFUP3BDUPSTMJNJUBUJPOT 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT

Slide 70

Slide 70 text

*UFSBUJPOTQFSTFDPOECFODINBSL IUUQTHJUIVCDPNPICBSZFQCUCMPCDFGBFBFBBDGBCCGCFODINBSL3&"%.&NE w NBD04 "QQMF.1SP DPSFT QFSGPSNBODFBOE F ffi DJFODZ w SVCZ SFWJTJPO DDE ./ w QCUDPNNJUIBTI FDBFDDFCB FECBEGG EDGEB 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT

Slide 71

Slide 71 text

1028 1534 2425 w 4FRVFOUJBMQSPDFTTJOH JTGBTUFOPVHI w 3BDUPSFNFSHFTBTB DIBNQJPOXIFOBUFTU UBSHFUJT$16CPVOE w .VMUJQSPDFTTUISFBE XPOOPOFPGSBDFT 0WFSBMMPCTFSWBUJPO 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT

Slide 72

Slide 72 text

1028 1534 2425 UJNFT GBTUFS UJNFT TMPXFS UJNFT TMPXFS UJNFT TMPXFS w 3BDUPSJTYGBTUFS GPSUIF$16CPVOE UBTL w 3BDUPSJTYY TMPXFSGPSPUIFSUBTLT 3BDUPSWTTFRVFOUJBM 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT

Slide 73

Slide 73 text

w *EFDJEFEUIFQCUHFNTEFGBVMUXPSLFSUPCFAOPOFA w *UTUIFGBTUFTUXBZGPSNPTUDBTFT w *UEPFTOUDBSFJGBUBSHFUDPEFJT3BDUPSDPNQBUJCMFPSOPU .ZEFDJTJPO "MPOF 5FTUJOHUPPMJNQMFNFOUBUJPOUPWFSJGZUIFIZQPUIFTJT

Slide 74

Slide 74 text

'JOEJOHT

Slide 75

Slide 75 text

w *OCFODINBSLT 3BDUPSXJOT$16CPVOEUBTLPOMZ w %J ff i DVMUJFTBOEJTTVFTPG3BDUPSJOSFBMXPSME $BO3BDUPSVOMPDLUIFQPUFOUJBMPGQSPQFSUZCBTFE UFTUJOH 'JOEJOHT 'JOEJOHT 1 2

Slide 76

Slide 76 text

w 1BSUJBMMZ ZFT w "CPVUYGBTUFSUIBOTFRVFOUJBMUFTUQSPDFTTJOH w 0OMZXIFOUIFUFTUUBSHFUNFFUTUIFTFDPOEJUJPOT w $16CPVOE w 3BDUPSDPNQBUJCMF $BO3BDUPSVOMPDLUIFQPUFOUJBMPGQSPQFSUZCBTFEUFTUJOH 'JOEJOHT

Slide 77

Slide 77 text

w !LPTBOQPJOUFEPVU JTTVFTJO3VCZ,BJHJ w 5IFOEJTUIFCJHHFTU JTTVFUPVTFSTMJLFNF %J ffi DVMUJFTBOEJTTVFTPG3BDUPSJOSFBMXPSME 'JOEJOHT IUUQTBUEPUOFUdLPBDUJWJUJFT@SVCZLBJHJQEG IUUQTSVCZLBJHJPSHQSFTFOUBUJPOTLPIUNM 2

Slide 78

Slide 78 text

3BDUPSTMJNJUBUJPOT 'JOEJOHT /FU)551EPFTOUXPSLJO3BDUPSCFDBVTFJU BDDFTTFTBOVOTIBSFBCMFPCKFDU VOGSP[FO"SSBZ

Slide 79

Slide 79 text

3BDUPSTMJNJUBUJPOT 'JOEJOHT UJNFPVUHFNEPFTOUXPSLCFDBVTFJUHFUTJWBSTPGDMBTTFTNPEVMFT

Slide 80

Slide 80 text

w *UTIBSEUP fi OEPVUBO JOEFQFOEFOUBOEJTPMBUFE QSPDFTTJOHUBTL PSUP SFGBDUPSPVSDPEFUPCFTP 3BDUPSTMJNJUBUJPOT 'JOEJOHT IUUQTTQFBLFSEFDLDPNN@TFLJMFBSOSBDUPS IUUQTSVCZLBJHJPSHQSFTFOUBUJPOTN@TFLJIUNM .PTU3VCZDPEFUIBUXFXSJUFVTFEPFTOUXPSLPO3BDUPS

Slide 81

Slide 81 text

5IPVHIUTBTB3BDUPSVTFS 'JOEJOHT 3BDUPSJODPNQBUJCMF &DPTZTUFN 3VCZIBTRVJUFHPPEFDPTZTUFN IVHF BTTFUTCVUNPTUPGUIFNBSFOPU3BDUPS DPNQBUJCMF*IPQFJUXPVMEDIBOHF $VSSFOUMZ3BDUPSCFHJOOFSTBSFGPSDFEUP ZBLTIBWJOHBTMJLFUIFSJHIU fl PXDIBSU

Slide 82

Slide 82 text

$BOULOPXXIFUIFSB3VCZ DPEFJT3BDUPSDPNQBUJCMF PSOPUBUBHMBODF 5PXBSET3BDUPSDPNQBUJCMFFDPTZTUFN 'JOEJOHT 3BDUPSDPNQBUJCJMJUZMBCFMPSBTTFSUJPO 3BDUPSXFMDPNFMBCFM &WFOJGOPOVTFSDPEFJTOPU 3BDUPSDPNQBUJCMF TIPVME XF fi YJUPOVQTUSFBN w 3BJTFBOFSSPSTBZJOH*UTOPU3BDUPSDPNQBUJCMF XIFOSVOOJOHPOOPONBJO3BDUPS w 4UBUJDBOBMZTJTPS$* HFNTQFD SVCZTQFDFUD w .BLJOHJU3BDUPSDPNQBUJCMFNBZSFRVJSFTJHOJ fi DBOUDPEF DIBOHFT w "UMFBTUGPSTUBOEBSEEFGBVMUCVOEMFEHFNT *EMPWFUPLOPX BQPMJDZPGXIFUIFSJUETVQQPSU3BDUPS

Slide 83

Slide 83 text

w "MNPTUSFBEZUPVTFJOSFBMXPSME w :PVDBOXSJUFQSPQFSUZCBTFEUFTUJOH XJUIFBTFSFHBSEMFTTPGZPVSEFNBOET GPSDPODVSSFODZ&OKPZ 'JOEJOHT "EWFSUJTFNFOU IUUQTHJUIVCDPNPICBSZFQCU

Slide 84

Slide 84 text

4NBSU#BOL *OD 4PGUXBSF&OHJOFFS &OHJOFFSJOH.BOBHFS .BTBUP0ICB !PICBSZF !PICBSZF *OUSPEVDUJPO

Slide 85

Slide 85 text

"QQFOEJY

Slide 86

Slide 86 text

3FGFSFODFT1SPQFSUZCBTFEUFTUJOH w 5FTUJOH"TZODISPOPVT"1*T8JUI2VJDL$IFDL w IUUQTXXXFSMBOHGBDUPSZDPNTUBUJDVQMPBENFEJBQCUFSMBOHGBDUPSZQQUYQEG w 2VJDL$IFDL"4JMWFS#VMMFUGPSUFTUJOH w IUUQTIUNMQSFWJFXHJUIVCJP IUUQTSBXHJUIVCDPNTUSBOHFMPPQMBNCEBKBNNBTUFSTMJEFT/PSUPO2VJDL$IFDLIUNM w *OUSPEVDUJPOUP1SPQFSUZ#BTFE5FTUJOH w IUUQTNFEJVNDPNDSJUFPFOHJOFFSJOHJOUSPEVDUJPOUPQSPQFSUZCBTFEUFTUJOHGE w 1SPQFSUZCBTFEUFTUJOHPGQSJWJMFHFEQSPHSBNT w IUUQTJFFFYQMPSFJFFFPSHEPDVNFOU w 1SPQFSUZCBTFEUFTUJOHBOFXBQQSPBDIUPUFTUJOHGPSBTTVSBODF w IUUQTEMBDNPSHEPJBCT w 2VJDL$IFDLBMJHIUXFJHIUUPPMGPSSBOEPNUFTUJOHPG)BTLFMMQSPHSBNT w IUUQTEMBDNPSHEPJ w 8IBUJT1SPQFSUZ#BTFE5FTUJOH w IUUQTIZQPUIFTJTXPSLTBSUJDMFTXIBUJTQSPQFSUZCBTFEUFTUJOH w IUUQTGBTUDIFDLEFW w 1SPQFSUZ#BTFE5FTUJOHXJUI1SPQ&S &SMBOH BOE&MJYJS w IUUQTQSBHQSPHDPNUJUMFTGIQSPQFSQSPQFSUZCBTFEUFTUJOHXJUIQSPQFSFSMBOHBOEFMJYJS

Slide 87

Slide 87 text

3FGFSFODFT1SPQFSUZCBTFEUFTUJOHUPPMT w 3VCZ1SPQ$IFDL 3VCZ w IUUQTHJUIVCDPN2RXZSVCZ QSPQ@DIFDL w 3BOUMZ 3VCZ w IUUQTHJUIVCDPNSBOUMZSCSBOUMZ w TUSFBN@EBUB &MJYJS w IUUQTHJUIVCDPNXIBUZPVIJEF TUSFBN@EBUB w QSPQDIFDL &MJYJS w IUUQTHJUIVCDPNBMGFSUQSPQDIFDL w 2VJYJS &MJYJS w IUUQTHJUIVCDPNQSBHEBWFRVJYJS w GBTUDIFDL +BWB4DSJQU 5ZQF4DSJQU w IUUQTGBTUDIFDLEFW w SBQJE (P w IUUQTHJUIVCDPN fl ZJOHNVUBOUSBQJE w HPQUFS (P w IUUQTHJUIVCDPNMFBOPWBUFHPQUFS w UFTUDIFDL $MPKVSF w IUUQTHJUIVCDPNDMPKVSFUFTUDIFDL w 4DBMB$IFDL 4DBMB w IUUQTTDBMBDIFDLPSH w 1SPQ&S &SMBOH w IUUQTHJUIVCDPNQSPQFSUFTUJOHQSPQFS

Slide 88

Slide 88 text

3FGFSFODFT3BDUPS w IUUQTHJUIVCDPNSVCZSVCZCMPCW@@EPDSBDUPSNE w IUUQTEPDTSVCZMBOHPSHFONBTUFS3BDUPSIUNM w 3BDUPS3FDPOTJEFSFE w IUUQTBUEPUOFUdLPBDUJWJUJFT@SVCZLBJHJQEG w IUUQTSVCZLBJHJPSHQSFTFOUBUJPOTLPIUNM w -FBSO3BDUPS 3VCZ,BJHJ w IUUQTTQFBLFSEFDLDPNN@TFLJMFBSOSBDUPS w IUUQTSVCZLBJHJPSHQSFTFOUBUJPOTN@TFLJIUNM w 3VCZιʔείʔυ׬શղઆୈষεϨου w IUUQTJMPWFSVCZOFUKBSIHCPPLUISFBEIUNM w QBSBMMFM w IUUQTHJUIVCDPNHSPTTFSQBSBMMFM w MPVQF w IUUQTHJUIVCDPNWJOJTUPDLMPVQF w IUUQTSVCZLBJHJPSHUBLFPVUQSFTFOUBUJPOTWJOJTUPDLIUNM w IUUQTSTQFDJOGPGFBUVSFTSTQFDDPSFDPNNBOEMJOFPSEFS

Slide 89

Slide 89 text

3FGFSFODFT3BDUPS w ./εϨουʹΑΔܰྔͳฒߦॲཧ΁ͷ௅ઓ w IUUQTHJIZPKQBSUJDMFSVCZNOUISFBET w 3VCZʹΑΔฒߦฒྻϓϩάϥϛϯά w IUUQTSVCZXPSMEDPOGPSH fi MFTBQEG w 3VCZͷฒྻฒߦॲཧͷ͜Ε·Ͱͱ͜Ε͔Β w IUUQTUFDIMJGFDPPLQBEDPNFOUSZ w ϓϩͱಡΈղ͘3VCZ/&84 w IUUQTUFDIMJGFDPPLQBEDPNFOUSZ w 3VCZͷ3BDUPSΛࣗຫ͍ͨ͠ w IUUQTUFDIMJGFDPPLQBEDPNFOUSZ w 3VCZʹ4PGUXBSF5SBOTBDUJPOBM.FNPSZ 45. ΛೖΕΑ͏ͱࢥͬͨ࿩ w IUUQTUFDIMJGFDPPLQBEDPNFOUSZ