Exhibit 1 Landmark's Simplified Financial Statements, 2010-2014 (U.S.

$ millions)
2010
2011
Income statement
Net sales
289.9
304.1
COGS
259.4
273.1
Gross profit
30.5
31.0
Operating expenses
20.9
21.6
Depreciation and amortization
1.6
1.6
Operating profit
8.0
7.8
Interest expense
0.0
0.0
Income taxes
2.8
2.7
Net income
5.2
5.1
EPS
$1.30
$1.27
Dividend
$0.20
$0.20

2012

2013

2014 [E]

316.4
284.1
32.3
26.7
1.7
3.9
0.3
1.3
2.3
$0.58
$0.20

329.0
295.3
33.7
28.6
1.7
3.4
0.2
1.1
2.1
$0.52
$0.20

345.5
310.4
35.1
30.3
1.8
3.0
0.0
1.1
2.0
$0.49
$0.20

Balance sheet
Cash
Accounts receivable
Other current assets
Current assets
Net PP&E
Investments and other assets
Total assets

3.6
20.7
6.3
30.6
3.1
45.0
78.7

4.2
22.0
5.1
31.3
5.1
47.1
83.6

3.3
29.3
4.9
37.5
7.2
47.3
92.0

1.5
30.4
5.0
36.9
9.2
47.6
93.7

0.4
31.0
4.9
36.3
11.2
47.2
94.6

Accounts payable
Bank borrowing
Current Liabilities
Accrued expenses and deferred taxes
Other non-current liabilities
Total liabilities
Shareholders' equity
Total liabilities and equity

5.6
0.0
5.6
13.9
16.6
36.1
42.6
78.7

5.3
0.0
5.3
13.9
17.5
36.7
46.9
83.6

7.6
4.0
11.6
15.0
17.0
43.6
48.4
92.0

8.9
2.5
11.4
15.3
17.3
44.0
49.7
93.7

10.4
0.0
10.4
15.5
17.9
43.8
50.8
94.6

Exhibit 2 Broadway's Simplified Financial Statements, 2010-2014 (U.S. $ millions)

2010
2011
Income statement
Net sales
137.8
143.5
COGS
126.1
131.5
Gross profit
11.7
12.0
Operating expenses
2.9
2.9
Depreciation and amortization
1.8
2.2
Operating profit
7.0
6.9
Interest expensea
0.4
0.4
Income taxes
2.3
2.3
Net income
4.3
4.2
EPS
$1.23
$1.21
Dividends
$0.24
$0.24
Balance sheet
Cash
Accounts receivable
Other current assets
Current assets
Net PP&E
Investments and other assets
Total assets
Accounts payable
Long-term debt, current portionb
Current Liabilities
Long-term debt
Accrued expenses and deferred taxes
Other non-current liabilities
Total liabilities
Shareholders 'equity
Total liabilities and equity
a
Interest rate on long-term debt outstanding is at 4.5% per year.
b
Principal amount of long-term debt is amortized at $0.4m per year.

2012

2013

149.5
137.1
12.4
2.9
2.5
7.0
0.4
2.3
4.3
$1.22
$0.24

155.3
142.5
12.8
3.0
2.8
7.0
0.4
2.3
4.3
$1.23
$0.24

1.8
13.1
2.8
17.7
16.0
35.9
69.6

1.0
13.5
4.0
18.5
17.4
38.6
74.5

1.9
14.6
4.1
20.6
18.6
41.8
81.1

1.5
15.2
4.2
20.9
19.7
43.2
83.8

9.3
0.4
9.7
8.2
11.6
11.0
40.5
29.1
69.6

9.9
0.4
10.3
7.7
12.8
11.2
42.0
32.5
74.5

10.4
0.4
10.8
8.7
13.1
12.5
45.1
36.0
81.1

11.0
0.4
11.4
8.3
13.3
11.4
44.4
39.4
83.8

2014 [E]
161.9
148.6
13.3
3.0
2.9
7.4
0.4
2.5
4.6
$1.30
$0.24

2.1
16.2
4.2
22.5
20.9
43.5
86.8
11.5
0.4
11.9
7.9
13.0
10.9
43.7
43.1
86.8

Exhibit 3a Five-year Forecast of Landmark's Income and Cash Flow, 2015-2019 (U.S. $ millions)*
2015
2016
2017
Net sales
362.8
380.9
400.0
Operating profit
5.4
5.7
6.0
Net income
3.5
3.7
3.9
Depreciation and amortization
2.1
2.4
2.7
Change in net working capital
1.3
1.3
1.4
Capital expenditure
3.6
3.8
4.0
Total FCF
0.7
1.0
1.2

2018
420.0
6.3
4.1
3.0
1.5
4.2
1.4

Exhibit 3b Five-year Forecast of Broadway's Income and Cash Flow, 2015-2019 (U.S. $ millions)*
2015
2016
2017
Net sales
168.4
175.1
182.1
Operating profit
6.7
7.0
7.3
Interest expense
0.4
0.4
0.4
Net income
4.1
4.3
4.5
Depreciation and amortization
3.1
3.3
3.5
Change in net working capital
0.4
0.4
0.4
Capital expenditure
4.2
4.4
4.6
Total FCF
2.8
3.1
3.3

2018
189.4
7.6
0.4
4.7
3.7
0.4
4.7
3.5

*Numbers in the exhibits are based on the assumption Broadway does not acquire Landmark.

2019
441.0
6.6
4.3
3.3
1.6
4.4
1.6

2019
197.0
7.9
0.4
4.9
3.9
0.4
4.9
3.7

Exhibit 4 Financial Data of Publically Traded Competitors, 2014 (U.S. $ millions)

Comparable Company 1
Sales
$13,945.7
Net income
$219.4
EPS
$0.95
Share price
Number of shares outstanding
Market capitalization
Debt
Assets
Equity beta

$26.76
231.2
$6,186.9
$5,887.0
$10,267.1
1.69

Comparable Company 2
$6,417.2
$123.8
$1.84
$46.83
67.3
$3,151.7
$355.0
$3,465.9
1.25

Comparable Company 3
$836.9
$12.1
$0.55
$22.73
22.0
$500.1
$289.0
$862.4
1.56

Exhibit 5 Selected Capital Markets Information as of September 1, 2014

Treasury:
3-month Treasury bill rate
1-year Treasury bond rate
10-year Treasury bond rate

0.04%
0.10%
2.56%

Corporate bond yield:

Aaa
Aa
A
Baa

4.16%
4.34%
4.52%
4.70%

Market risk premium

5.90%

Exhibit A: Valuation of Acquisition

WACC
Revenue growth
Operating margin
Net WC
Capex
Revenue
Operating profits
Taxes
NOPAT
Depreciation and amortization
Net WC
Chg in net WC
Capex
FCF
Terminal value
PV (Landmark)
Valuation of Synergy to Broadway
Revenue growth
Gross margin
Operating expenses
Capex
Revenue
Gross profits
Operating profit
Taxes
NOPAT
Depreciation and amortization
Chg in net WC
Capex
FCF (with acquisition)
Terminal value (with acquisition)
PV (Broadway with acquisition)
FCF (without acquisition)
Terminal value (without acquisition)
PV (Broadway without acquisition)
PV (improvements to Broadway)
Total PV of Landmark to Broadway

2015
8.36%
5.0%
1.5%
7.0%
1.0%
362.8
5.4
1.9
3.5
2.1
25.4
-0.1
3.6
2.1

2016
8.36%
5.0%
2.0%
6.5%
1.0%
380.9
7.6
2.7
5.0
2.4
24.8
-0.6
3.8
4.2

2017
8.36%
5.0%
2.5%
6.3%
1.0%
400.0
10.0
3.5
6.5
2.7
25.2
0.4
4.0
4.8

2018
8.36%
5.0%
3.0%
6.0%
1.0%
420.0
12.6
4.4
8.2
3.0
25.2
0.0
4.2
7.0

2019
8.36%
5.0%
3.0%
5.5%
1.0%
441.0
13.2
4.6
8.6
3.3
24.3
-0.9
4.4
8.4
$160.2

2020
8.36%
4.0%
3.0%
5.5%
1.0%
458.6
13.8
4.8
8.9
3.6
25.2
1.0
4.6
7.0

2021
8.36%
4.0%
3.0%
5.5%
1.0%
476.9
14.3
5.0
9.3
3.9
26.2
1.0
4.8

2022
8.36%
4.0%
3.0%
5.5%
1.0%
496.0
14.9
5.2
9.7
4.2
27.3
1.0
5.0

-10.0%
8.5%
2.0%
2.1%
145.7
12.4
6.4
2.2
4.1
3.1
0.4
3.1
3.8

-10.0%
8.5%
2.0%
2.1%
131.1
11.1
5.2
1.8
3.4
3.3
0.4
2.8
3.6

9.0%
9.0%
2.0%
2.1%
142.9
12.9
6.5
2.3
4.2
3.5
0.4
3.0
4.4

9.0%
9.0%
2.0%
2.1%
155.8
14.0
7.2
2.5
4.7
3.7
0.4
3.3
4.7

9.0%
9.5%
2.0%
2.1%
169.8
16.1
8.8
3.1
5.7
3.9
0.4
3.6
5.7
$154.4

4.5%
9.5%
2.0%
2.1%
177.5
16.9
9.2
3.2
6.0
4.1
0.4
3.7
6.0

4.5%
9.5%
2.0%
2.1%
185.5
17.6
9.6
3.4
6.2
4.3
0.4
3.9

4.5%
9.5%
2.0%
2.1%
193.8
18.4
10.0
3.5
6.5
4.5
0.4
4.1

$120.5
2.8

3.1

3.3

3.5

3.7
$88.1

3.8

$127.2

$71.9
$48.6
$175.8

2023
8.36%
4.0%
3.0%
5.5%
1.0%
515.9
15.5
5.4
10.1
4.5
28.4
1.1
5.2

4.5%
9.5%
2.0%
2.1%
202.5
19.2
10.5
3.7
6.8
4.7
0.4
4.3

Exhibit B: Standalone Valuation of Landmark

2015

2016

2017

2018

2019

WACC
Revenue growth

8.36%

8.36%

8.36%

8.36%

8.36%

5.0%

5.0%

5.0%

5.0%

5.0%

Operating margin

1.50%

1.50%

1.50%

1.50%

1.50%

Net WC

7.40%

7.40%

7.40%

7.40%

7.40%

Capex

1.00%

1.00%

1.00%

1.00%

1.00%

Revenue

362.8

380.9

400.0

420.0

441.0

Operating profits

5.4

5.7

6.0

6.3

6.6

Taxes

1.9

2.0

2.1

2.2

2.3

NOPAT

3.5

3.7

3.9

4.1

4.3

Depreciation and amortization

2.1

2.4

2.7

3.0

3.3

Net WC

26.8

28.2

29.6

31.1

32.6

Chg in net WC

1.3

1.3

1.4

1.5

1.6

Capex

3.6

3.8

4.0

4.2

4.4

FCF

0.7

1.0

1.2

1.4

1.6

Terminal value
PV (Landmark)

$42.5
$32.9

2020
8.36%
4.0%
1.50%
7.40%
1.00%
463.0
6.9
2.4
4.5
3.6
34.3
1.6
4.6
1.9

Exhibit C Projected Financial Statements of Broadway with 100% Debt Financing

Debt terms

Line

Income statement
Net sales
Operating profit
Income taxes
Net income (unlevered)
Add: Depreciation and amortization
Less: Change in Net WC
Less: Capex
FCF
Interest expense (original debt)
Interest expense (new debt)
Less: after-tax interest expense
Less: retirement of LT debt
Cumulative debt cushion

$120 m @ 5.5% annual interest rate

9 year maturity; amortized $5m a year starting 2017
Expected scenario
2015
2016
2017
2018
2019
508.5
512.1
542.9
575.8
610.8
11.8
12.8
16.5
19.8
22.1
4.1
4.5
5.8
6.9
7.7
7.7
8.3
10.7
12.9
14.3
5.2
5.7
6.2
6.7
7.2
0.3
-0.3
0.8
0.4
-0.5
6.7
6.6
7.0
7.5
8.0
5.9
7.8
9.1
11.7
14.1
0.4
0.4
0.3
0.3
0.3
6.6
6.6
6.6
6.3
6.1
4.5
4.5
4.5
4.3
4.1
0.4
0.4
5.4
5.4
5.4
0.9
3.8
3.0
5.0
9.6

Cash flow statement

Net Income (after interest expense)
Non-cash expenses
Depreciation
Change in NWC
CFO
Capex
Net change in investments
CFI
Change in borrowing
Other changes to LT obligations
Dividend
CFF
Change in Cash
Beginning Cash
Ending Cash

2015
3.1

Balance sheet
Cash
Starting NWC
Change in NWC
Ending NWC
Goodwill
Net PP&E
Investments and other assets
Total assets less current liabilities
Long-term debt
Accrued expenses and deferred taxes
Other non-current liabilities
Total non-current liabilities
Shareholders 'equity
Total non-current liabilities and equity
Debt-related Ratios

2015

2016
3.8

6.2

8.6

2019
10.2

5.2
0.3
8.0
(6.7)
0.0
(6.7)
(0.4)
0.0
0.8
(1.2)
0.1
2.5
2.6

5.7
-0.3
9.8
(6.6)
0.0
(6.6)
(0.4)
0.0
0.8
(1.2)
2.0
2.6
4.6

6.2
0.8
11.6
(7.0)
0.0
(7.0)
(5.4)
0.0
0.8
(6.2)
(1.6)
4.6
2.9

6.7
0.4
14.9
(7.5)
0.0
(7.5)
(5.4)
0.0
0.8
(6.2)
1.2
2.9
4.1

7.2
-0.5
18.0
(8.0)
0.0
(8.0)
(5.4)
0.0
0.8
(6.2)
3.7
4.1
7.8

2016
4.6
34.3
(0.3)
34.0
69.2
34.4
90.7
232.9
127.1
28.5
28.8
184.4
48.4
232.8
2016

2017
2.9
34.0
0.8
34.8
69.2
35.2
90.7
232.8
121.7
28.5
28.8
179.0
53.8
232.8
2017

2018
4.1
34.8
0.4
35.2
69.2
35.9
90.7
235.2
116.3
28.5
28.8
173.6
61.5
235.1
2018

2019
7.8
35.2
(0.5)
34.7
69.2
36.7
90.7
239.1
110.9
28.5
28.8
168.2
70.9
239.1
2019

2.6
34.0
0.3
34.3
69.2
33.5
90.7
230.3
127.5
28.5
28.8
184.8
45.4
230.2
2015

2017

2018

Interest coverage ratio

Debt-equity ratio
Debt-capitalization ratio
Cash flow to debt ratio

1.69
2.81
74%
0.06

1.85
2.62
72%
0.08

2.38
2.26
69%
0.10

2.98
1.89
65%
0.13

3.47
1.56
61%
0.16

xpected scenario
2020
636.1
23.0
8.0
14.9
7.7
1.4
8.3
12.9
0.3
5.8
3.9
5.4
13.2

2021
661.5
23.9
8.4
15.5
6.8
1.4
8.7
12.3
0.3
5.5
3.7
5.4
16.3

2022
688.0
24.9
8.7
16.2
7.1
1.5
9.0
12.8
0.2
5.2
3.6
5.4
20.2

2023
715.5
26.0
9.1
16.9
7.4
1.5
9.4
13.4
0.2
5.0
3.4
90.4
(60.2)

2015
500.4
10.7
3.8
7.0
5.2
0.3
6.9
5.0
0.4
6.6
4.5
0.4
0.0

2016
497.9
11.5
4.0
7.4
5.7
1.6
6.6
4.9
0.4
6.6
4.5
0.4
(0.0)

2017
526.3
14.2
5.0
9.2
6.2
1.7
7.1
6.7
0.3
6.6
4.5
5.4
(3.2)

Pessimistic scenario
2018
2019
2020
556.4
588.3
611.8
15.8
16.8
17.4
5.5
5.9
6.1
10.3
11.0
11.3
6.7
7.2
7.7
-0.3
1.8
1.5
7.5
7.9
8.2
9.8
8.4
9.2
0.3
0.3
0.3
6.3
6.1
5.8
4.3
4.1
3.9
5.4
5.4
5.4
(3.2)
(4.2)
(4.3)

2021
636.3
18.0
6.3
11.7
8.2
1.6
8.6
9.8
0.3
5.5
3.7
5.4
(3.7)

2020
11.0

2021
11.8

2022
12.6

2023
13.5

2015

2016

2017

2018

2021

7.7
1.4
17.3
(8.3)
0.0
(8.3)
(5.4)
0.0
0.8
(6.2)
2.8
7.8
10.6

6.8
1.4
17.2
(8.7)
0.0
(8.7)
(5.4)
0.0
0.8
(6.2)
2.3
10.6
12.9

7.1
1.5
18.3
(9.0)
0.0
(9.0)
(5.4)
0.0
0.8
(6.2)
3.0
12.9
15.9

2020
10.6
34.7
1.4
36.1
69.2
37.3
90.7
243.9
105.5
28.5
28.8
162.8
81.0
243.8
2020

2021
12.9
36.1
1.4
37.5
69.2
39.2
90.7
249.4
100.1
28.5
28.8
157.4
92.0
249.4
2021

2022
15.9
37.5
1.5
38.9
69.2
41.1
90.7
255.8
94.7
28.5
28.8
152.0
103.8
255.8
2022

2019

2020

2.4

2.9

4.7

6.0

6.8

7.4

8.0

7.4
1.5
19.4
(9.4)
0.0
(9.4)
(90.4)
0.0
0.8
(91.2)
(81.2)
15.9
(65.3)

5.2
0.3
7.3
(6.9)
0.0
(6.9)
(0.4)
0.0
0.8
(1.2)
(0.8)
2.5
1.7

5.7
1.6
7.0
(6.6)
0.0
(6.6)
(0.4)
0.0
0.8
(1.2)
(0.9)
1.7
0.8

6.2
1.7
9.2
(7.1)
0.0
(7.1)
(5.4)
0.0
0.8
(6.2)
(4.1)
0.8
(3.3)

6.7
-0.3
13.0
(7.5)
0.0
(7.5)
(5.4)
0.0
0.8
(6.2)
(0.8)
(3.3)
(4.1)

7.2
1.8
12.3
(7.9)
0.0
(7.9)
(5.4)
0.0
0.8
(6.2)
(1.9)
(4.1)
(6.0)

7.7
1.5
13.5
(8.2)
0.0
(8.2)
(5.4)
0.0
0.8
(6.2)
(0.9)
(6.0)
(6.9)

8.2
1.6
14.6
(8.6)
0.0
(8.6)
(5.4)
0.0
0.8
(6.2)
(0.2)
(6.9)
(7.1)

2023
(65.3)
38.9
1.5
40.4
69.2
43.1
90.7
178.1
4.3
28.5
28.8
61.6
116.5
178.1
2023

2015
1.7
34.0
0.3
34.3
69.2
33.7
90.7
229.6
127.5
28.5
28.8
184.8
44.7
229.5
2015

2016
0.8
34.3
1.6
35.9
69.2
34.6
90.7
231.3
127.1
28.5
28.8
184.4
46.8
231.2
2016

2017
(3.3)
35.9
1.7
37.6
69.2
35.5
90.7
229.7
121.7
28.5
28.8
179.0
50.7
229.7
2017

2018
(4.1)
37.6
(0.3)
37.3
69.2
36.3
90.7
229.5
116.3
28.5
28.8
173.6
55.8
229.4
2018

2019
(6.0)
37.3
1.8
39.1
69.2
37.0
90.7
230.0
110.9
28.5
28.8
168.2
61.8
230.0
2019

2020
(6.9)
39.1
1.5
40.6
69.2
37.6
90.7
231.2
105.5
28.5
28.8
162.8
68.4
231.2
2020

2021
(7.1)
40.6
1.6
42.2
69.2
37.9
90.7
232.9
100.1
28.5
28.8
157.4
75.5
232.9
2021

3.79
1.30
57%
0.16

4.15
1.09
52%
0.17

4.55
0.91
48%
0.19

5.01
0.04
4%
4.52

1.54
2.85
74%
0.06

1.65
2.71
73%
0.06

2.05
2.40
71%
0.08

2.38
2.08
68%
0.11

2.65
1.79
64%
0.11

2.88
1.54
61%
0.13

3.13
1.33
57%
0.15

2022
661.8
18.7
6.5
12.1
8.7
1.6
8.9
10.3
0.2
5.2
3.6
5.4
(2.4)

2023
688.2
19.4
6.8
12.6
9.2
1.7
9.2
10.9
0.2
5.0
3.4
90.4
(85.3)

2022

2023
8.6

9.2

8.7
1.6
15.6
(8.9)
0.0
(8.9)
(5.4)
0.0
0.8
(6.2)
0.5
(7.1)
(6.6)

9.2
1.7
16.7
(9.2)
0.0
(9.2)
(90.4)
0.0
0.8
(91.2)
(83.7)
(6.6)
(90.4)

2022
(6.6)
42.2
1.6
43.9
69.2
38.1
90.7
235.3
94.7
28.5
28.8
152.0
83.2
235.2
2022

2023
(90.4)
43.9
1.7
45.6
69.2
38.2
90.7
153.3
4.3
28.5
28.8
61.6
91.6
153.2
2023

3.41
1.14
53%
0.17

3.74
0.05
4%
3.89

Exhibit D: Projected Financial Statements of Broadway with Mix of Debt and Equity Financing
Debt terms

Income statement
Net sales
Operating profit
Income taxes
Net income (unlevered)
Add: Depreciation and amortization
Less: Change in Net WC
Less: Capex
FCF
Interest expense (original debt)
Interest expense (new debt)
Less: after-tax interest expense
Less: retirement of LT debt
Cumulative debt cushion

$60 m @ 5% annual interest rate

6 year maturity; principal paid at maturity
Expected scenario
2015
2016
2017
508.5
512.1
542.9
11.8
12.8
16.5
4.1
4.5
5.8
7.7
8.3
10.7
5.2
5.7
6.2
0.3
(0.3)
0.8
6.7
6.6
7.0
5.9
7.8
9.1
0.4
0.4
0.3
3.0
3.0
3.0
2.2
2.2
2.2
0.4
0.4
0.4
3.3
8.5
15.0

Cash flow statement

Net Income (after interest expense)
Non-cash expenses
Depreciation
Change in NWC
CFO
Capex
Net change in investments
CFI
Change in borrowing
Other changes to LT obligations
Dividend
CFF
Change in Cash
Beginning Cash
Ending Cash

2015

2016

2017

Balance sheet
Cash
Starting NWC
Change in NWC
Ending NWC
Goodwill
Net PP&E
Investments and other assets
Total assets less current liabilities
Long-term debt
Accrued expenses and deferred taxes
Other non-current liabilities
Total non-current liabilities
Shareholders 'equity
Total non-current liabilities and equity
Debt-related Ratios

2015

2016

4.9
34.0
0.3
34.3
69.2
33.5
90.7
232.6
67.5
28.5
28.8
124.8
107.8
232.6
2015

9.2
34.3
(0.3)
34.0
69.2
34.4
90.7
237.5
67.1
28.5
28.8
124.4
113.1
237.5
2016

5.5

6.2

8.6

5.2
0.3
10.4
(6.7)
0.0
(6.7)
(0.4)
0.0
0.8
(1.2)
2.4
2.5
4.9

5.7
(0.3)
12.1
(6.6)
0.0
(6.6)
(0.4)
0.0
0.8
(1.2)
4.3
4.9
9.2

6.2
0.8
13.9
(7.0)
0.0
(7.0)
(0.4)
0.0
0.8
(1.2)
5.7
9.2
14.9
2017
14.9
34.0
0.8
34.8
69.2
35.2
90.7
244.9
66.7
28.5
28.8
124.0
120.8
244.8
2017

Interest coverage ratio

Debt-equity ratio
Capitalization ratio
Cash flow to debt ratio

3.50
0.63
39%
0.15

3.83
0.59
37%
0.18

4.95
0.55
36%
0.21

aid at maturity
Expected scenario
2018
575.8
19.8
6.9
12.9
6.7
0.4
7.5
11.7
0.3
3.0
2.2
0.4
24.2

2019
610.8
22.1
7.7
14.3
7.2
(0.5)
8.0
14.1
0.3
3.0
2.1
0.4
35.7

2020
636.1
23.0
8.0
14.9
7.7
1.4
8.3
12.9
0.3
3.0
2.1
60.4
(13.9)

2015
500.4
10.7
3.8
7.0
5.2
0.3
6.9
5.0
0.4
3.0
2.2
0.4
2.4

2016
497.9
11.5
4.0
7.4
5.7
1.6
6.6
4.9
0.4
3.0
2.2
0.4
4.7

2018
10.7

2019
12.2

2020
12.8

2015

2016

6.7
0.4
17.0
(7.5)
0.0
(7.5)
(0.4)
0.0
0.8
(1.2)
8.3
14.9
23.3

7.2
(0.5)
19.9
(8.0)
0.0
(8.0)
(0.4)
0.0
0.8
(1.2)
10.7
23.3
34.0

7.7
1.4
19.1
(8.3)
0.0
(8.3)
(60.4)
0.0
0.8
(61.2)
(50.4)
34.0
(16.4)

2018
23.3
34.8
0.4
35.2
69.2
35.9
90.7
254.3
66.3
28.5
28.8
123.6
130.7
254.3
2018

2019
34.0
35.2
(0.5)
34.7
69.2
36.7
90.7
265.3
65.9
28.5
28.8
123.2
142.1
265.3
2019

2020
(16.4)
34.7
1.4
36.1
69.2
37.3
90.7
216.9
5.5
28.5
28.8
62.8
154.0
216.8
2020

Pessimistic scenario
2017
2018
526.3
556.4
14.2
15.8
5.0
5.5
9.2
10.3
6.2
6.7
1.7
(0.3)
7.1
7.5
6.7
9.8
0.3
0.3
3.0
3.0
2.2
2.2
0.4
0.4
8.8
16.0
2017

2018

2019
588.3
16.8
5.9
11.0
7.2
1.8
7.9
8.4
0.3
3.0
2.1
0.4
21.9

2020
611.1
17.4
6.1
11.3
7.7
1.5
8.2
9.2
0.3
3.0
2.1
60.4
(31.4)

2019

2020

4.8

5.3

7.1

8.1

8.8

9.2

5.2
0.3
9.7
(6.9)
0.0
(6.9)
(0.4)
0.0
0.8
(1.2)
1.5
2.5
4.0

5.7
1.6
9.3
(6.6)
0.0
(6.6)
(0.4)
0.0
0.8
(1.2)
1.5
4.0
5.5

6.2
1.7
11.6
(7.1)
0.0
(7.1)
(0.4)
0.0
0.8
(1.2)
3.3
5.5
8.7

6.7
(0.3)
15.1
(7.5)
0.0
(7.5)
(0.4)
0.0
0.8
(1.2)
6.4
8.7
15.1

7.2
1.8
14.2
(7.9)
0.0
(7.9)
(0.4)
0.0
0.8
(1.2)
5.1
15.1
20.2

7.7
1.5
15.3
(8.2)
0.0
(8.2)
(60.4)
0.0
0.8
(61.2)
(54.1)
20.2
(34.0)

2018
15.1
37.6
(0.3)
37.3
69.2
36.3
90.7
248.6
66.3
28.5
28.8
123.6
125.0
248.6
2018

2019
20.2
37.3
1.8
39.1
69.2
37.0
90.7
256.2
65.9
28.5
28.8
123.2
133.0
256.2
2019

2020
(34.0)
39.1
1.5
40.6
69.2
37.6
90.7
204.2
5.5
28.5
28.8
62.8
141.3
204.1
2020

2015

2016

2017

4.0
34.0
0.3
34.3
69.2
33.7
90.7
231.9
67.5
28.5
28.8
124.8
107.1
231.9
2015

5.5
34.3
1.6
35.9
69.2
34.6
90.7
235.9
67.1
28.5
28.8
124.4
111.5
235.9
2016

8.7
35.9
1.7
37.6
69.2
35.5
90.7
241.8
66.7
28.5
28.8
124.0
117.7
241.7
2017

5.97
0.51
34%
0.26

6.68
0.46
32%
0.30

7.00
0.04
3%
3.48

3.18
0.63
39%
0.14

3.41
0.60
38%
0.14

4.26
0.57
36%
0.17

4.76
0.53
35%
0.23

5.10
0.50
33%
0.22

5.31
0.04
4%
2.79