Company F's Projected Operating Performance Year 10 Year 11 Year 12 STEP 5: OPERATING PROJECTIONS BY GEOGRAPHIC REGION Camera / Drone Operations Historical Operating Performance in North America Year 7 Year 8 Year 9 Company Industry Company Industry Company Industry F Average F Average F Average AC Cameras Average Net Revenue (s per unit) 362.85 282.53 373.14 310.38 349,60 334 41 Units Sold (000) 274.5 309.0 240.9 306.0 232.9 302.0 Cost of Units Sold (s per unit) 195.73 170.91 174.36 170.89 165 41 182.59 Delivery Expenses (5 per unit) 6.00 5.44 6.00 5.40 6.00 5.47 Marketing Expenses (5 per unit) 60.11 38.18 64.34 42 78 60.11 48.99 Administrative Expenses (per unit) 10.40 8.25 10.82 8.33 11.46 8.19 UAV Drones Average Net Revenue (s per unit) 1.45458 1,525.5 1,806,85 1,7216 1,677.48 1.9215 Units Sold (000) 53.9 60.99 47,9 65.00 44.1 66.01 Cost of Units Sold (s per unit) 1,033,99 1,028.38 1,065.97 1.123.55 836.73 1.181.17 Delivery Expenses (5 per unt) 54 25 49.16 56.24 50.63 54.22 49.34 Marketing Expenses (5 per unit) 76 07 141.18 152 40 151.44 147.39 193.06 Administrative Expenses (per unit) 13.04 11.02 13.57 10.97 14.51 10.79 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 Camera / Drone Operations In Europe Africa Historical Operating Performance Year 7 Year 8 Year 9 Company Industry Company Industry Company Industry F Average F Average F Average Company F's Projected Operating Performance Year 10 Year 11 Year 12 401.13 184.0 206.74 24.00 76.09 10.40 275.68 260.0 170.82 17.59 35.91 8.19 356.61 216.8 172.62 21.20 62.27 10.82 302.73 265.0 170.60 18.14 37.89 8.32 349.03 205.8 163.65 20.40 62 20 11.45 329.37 275.0 182.65 19.03 47.11 8.21 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 AC Cameras Average Net Revenue (per unit) Units Sold (000) Cost of Units Sold (5 per unit) Delivery Expenses (per unit) Marketing Expenses (per unit) Administrative Expenses (5 per unit) UAV Drones Average Net Revenue (s per unit) Units Sold (000) Cost of Units Sold (s per unit) Delivery Expenses (per unit) Marketing Expenses (5 per unit) Administrative Expenses (per unit) 1,309.86 1,450.2 50.1 52.00 1,034.37 1.020.68 110.20 110.07 63.87 150.62 13.05 11.06 1.684 32 1,696.6 37.3 52.00 1,053.83 1,120.24 124 13 118.56 126.01 173.60 13.57 10.91 1,757 80 1,989.4 322 55.00 824.10 1.182.71 122.02 125 93 142.86 217.77 14 50 10.72 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 Company F's Projected Operating Performance Year 10 Year 11 Year 12 STEP 5: OPERATING PROJECTIONS BY GEOGRAPHIC REGION Camera / Drone Operations Historical Operating Performance in North America Year 7 Year 8 Year 9 Company Industry Company Industry Company Industry F Average F Average F Average AC Cameras Average Net Revenue (s per unit) 362.85 282.53 373.14 310.38 349,60 334 41 Units Sold (000) 274.5 309.0 240.9 306.0 232.9 302.0 Cost of Units Sold (s per unit) 195.73 170.91 174.36 170.89 165 41 182.59 Delivery Expenses (5 per unit) 6.00 5.44 6.00 5.40 6.00 5.47 Marketing Expenses (5 per unit) 60.11 38.18 64.34 42 78 60.11 48.99 Administrative Expenses (per unit) 10.40 8.25 10.82 8.33 11.46 8.19 UAV Drones Average Net Revenue (s per unit) 1.45458 1,525.5 1,806,85 1,7216 1,677.48 1.9215 Units Sold (000) 53.9 60.99 47,9 65.00 44.1 66.01 Cost of Units Sold (s per unit) 1,033,99 1,028.38 1,065.97 1.123.55 836.73 1.181.17 Delivery Expenses (5 per unt) 54 25 49.16 56.24 50.63 54.22 49.34 Marketing Expenses (5 per unit) 76 07 141.18 152 40 151.44 147.39 193.06 Administrative Expenses (per unit) 13.04 11.02 13.57 10.97 14.51 10.79 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 Camera / Drone Operations In Europe Africa Historical Operating Performance Year 7 Year 8 Year 9 Company Industry Company Industry Company Industry F Average F Average F Average Company F's Projected Operating Performance Year 10 Year 11 Year 12 401.13 184.0 206.74 24.00 76.09 10.40 275.68 260.0 170.82 17.59 35.91 8.19 356.61 216.8 172.62 21.20 62.27 10.82 302.73 265.0 170.60 18.14 37.89 8.32 349.03 205.8 163.65 20.40 62 20 11.45 329.37 275.0 182.65 19.03 47.11 8.21 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 AC Cameras Average Net Revenue (per unit) Units Sold (000) Cost of Units Sold (5 per unit) Delivery Expenses (per unit) Marketing Expenses (per unit) Administrative Expenses (5 per unit) UAV Drones Average Net Revenue (s per unit) Units Sold (000) Cost of Units Sold (s per unit) Delivery Expenses (per unit) Marketing Expenses (5 per unit) Administrative Expenses (per unit) 1,309.86 1,450.2 50.1 52.00 1,034.37 1.020.68 110.20 110.07 63.87 150.62 13.05 11.06 1.684 32 1,696.6 37.3 52.00 1,053.83 1,120.24 124 13 118.56 126.01 173.60 13.57 10.91 1,757 80 1,989.4 322 55.00 824.10 1.182.71 122.02 125 93 142.86 217.77 14 50 10.72 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 Corporate-Level Financials Historical Corporate-Level Financials Year 7 Year 8 Year 9 Company industry Company Industry Company Industry F Average F Average F Average Company F's Projected Corporate-Level Financials Year 10 Year 11 Year 12 1,883 -2.446 8.351 0 0 0 Total Interest Costs (5000) Stock -Shares Issued (000) Shares Retired Annual Dividend (s per share) 6,072 2.500 0 11,873 278 72 ol 2.500 0 10.153 278 258 0.28 0 1.000 24 338 0 0 0 0 0 0.50 0.19 0.50 0.50 0.39 0.00 0.00 0.00 Income Statements Company F's Projected Income Statements Year 10 Year 11 Year 12 $ $ $ Net Revenues - AC Cameras UAV Dromes Total Cost of Units Sold Delivery Costs Marketing Costs Administrative Expenses Total Operating Profit Interest Costs Pre-Tax Profit Income Taxes Net Profit Earnings Per Share (5 per share) Dividends Per Share per share) Return On Average Equity (ROE) Shares of Stock Outstanding (000) Total Shareholder Equity Company F's Historical Income Statements Year 7 Year 8 Year 9 $ 263,068 $ 261,463 $ 240,264 200 200 226,078 194,120 463 268 487 541 434384 292,150 272,821 211,953 27,977 29,217 25,842 63.600 67.700 63,000 9.195 9.680 9,575 70.346 108,123 124.014 6,072 1,883 -2.446 62,274 105,240 125.460 18 682 31,572 37 638 S 43,592 S 73.668 S 87.822 $1.74 $2.68 $3.31 $0.50 $0.50 $0.50 20.9% 22.2% 21.2% 25,000 27,500 26,500 $ 250,218 $ 413,337 $ 414,820 88 olo olo oooooooo OOOOOOOOOOOO OOO OOOOO OO O1092 $ $0.00 $0.00 0.0% 26,500 $ 414 820 $0.00 $0.00 0.0% 26,500 $ 414,820 S $0.00 $ 26,500 $ 414,820 Company F's Projected Operating Performance Year 10 Year 11 Year 12 STEP 5: OPERATING PROJECTIONS BY GEOGRAPHIC REGION Camera / Drone Operations Historical Operating Performance in North America Year 7 Year 8 Year 9 Company Industry Company Industry Company Industry F Average F Average F Average AC Cameras Average Net Revenue (s per unit) 362.85 282.53 373.14 310.38 349,60 334 41 Units Sold (000) 274.5 309.0 240.9 306.0 232.9 302.0 Cost of Units Sold (s per unit) 195.73 170.91 174.36 170.89 165 41 182.59 Delivery Expenses (5 per unit) 6.00 5.44 6.00 5.40 6.00 5.47 Marketing Expenses (5 per unit) 60.11 38.18 64.34 42 78 60.11 48.99 Administrative Expenses (per unit) 10.40 8.25 10.82 8.33 11.46 8.19 UAV Drones Average Net Revenue (s per unit) 1.45458 1,525.5 1,806,85 1,7216 1,677.48 1.9215 Units Sold (000) 53.9 60.99 47,9 65.00 44.1 66.01 Cost of Units Sold (s per unit) 1,033,99 1,028.38 1,065.97 1.123.55 836.73 1.181.17 Delivery Expenses (5 per unt) 54 25 49.16 56.24 50.63 54.22 49.34 Marketing Expenses (5 per unit) 76 07 141.18 152 40 151.44 147.39 193.06 Administrative Expenses (per unit) 13.04 11.02 13.57 10.97 14.51 10.79 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 Camera / Drone Operations In Europe Africa Historical Operating Performance Year 7 Year 8 Year 9 Company Industry Company Industry Company Industry F Average F Average F Average Company F's Projected Operating Performance Year 10 Year 11 Year 12 401.13 184.0 206.74 24.00 76.09 10.40 275.68 260.0 170.82 17.59 35.91 8.19 356.61 216.8 172.62 21.20 62.27 10.82 302.73 265.0 170.60 18.14 37.89 8.32 349.03 205.8 163.65 20.40 62 20 11.45 329.37 275.0 182.65 19.03 47.11 8.21 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 AC Cameras Average Net Revenue (per unit) Units Sold (000) Cost of Units Sold (5 per unit) Delivery Expenses (per unit) Marketing Expenses (per unit) Administrative Expenses (5 per unit) UAV Drones Average Net Revenue (s per unit) Units Sold (000) Cost of Units Sold (s per unit) Delivery Expenses (per unit) Marketing Expenses (5 per unit) Administrative Expenses (per unit) 1,309.86 1,450.2 50.1 52.00 1,034.37 1.020.68 110.20 110.07 63.87 150.62 13.05 11.06 1.684 32 1,696.6 37.3 52.00 1,053.83 1,120.24 124 13 118.56 126.01 173.60 13.57 10.91 1,757 80 1,989.4 322 55.00 824.10 1.182.71 122.02 125 93 142.86 217.77 14 50 10.72 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 Company F's Projected Operating Performance Year 10 Year 11 Year 12 STEP 5: OPERATING PROJECTIONS BY GEOGRAPHIC REGION Camera / Drone Operations Historical Operating Performance in North America Year 7 Year 8 Year 9 Company Industry Company Industry Company Industry F Average F Average F Average AC Cameras Average Net Revenue (s per unit) 362.85 282.53 373.14 310.38 349,60 334 41 Units Sold (000) 274.5 309.0 240.9 306.0 232.9 302.0 Cost of Units Sold (s per unit) 195.73 170.91 174.36 170.89 165 41 182.59 Delivery Expenses (5 per unit) 6.00 5.44 6.00 5.40 6.00 5.47 Marketing Expenses (5 per unit) 60.11 38.18 64.34 42 78 60.11 48.99 Administrative Expenses (per unit) 10.40 8.25 10.82 8.33 11.46 8.19 UAV Drones Average Net Revenue (s per unit) 1.45458 1,525.5 1,806,85 1,7216 1,677.48 1.9215 Units Sold (000) 53.9 60.99 47,9 65.00 44.1 66.01 Cost of Units Sold (s per unit) 1,033,99 1,028.38 1,065.97 1.123.55 836.73 1.181.17 Delivery Expenses (5 per unt) 54 25 49.16 56.24 50.63 54.22 49.34 Marketing Expenses (5 per unit) 76 07 141.18 152 40 151.44 147.39 193.06 Administrative Expenses (per unit) 13.04 11.02 13.57 10.97 14.51 10.79 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 Camera / Drone Operations In Europe Africa Historical Operating Performance Year 7 Year 8 Year 9 Company Industry Company Industry Company Industry F Average F Average F Average Company F's Projected Operating Performance Year 10 Year 11 Year 12 401.13 184.0 206.74 24.00 76.09 10.40 275.68 260.0 170.82 17.59 35.91 8.19 356.61 216.8 172.62 21.20 62.27 10.82 302.73 265.0 170.60 18.14 37.89 8.32 349.03 205.8 163.65 20.40 62 20 11.45 329.37 275.0 182.65 19.03 47.11 8.21 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 AC Cameras Average Net Revenue (per unit) Units Sold (000) Cost of Units Sold (5 per unit) Delivery Expenses (per unit) Marketing Expenses (per unit) Administrative Expenses (5 per unit) UAV Drones Average Net Revenue (s per unit) Units Sold (000) Cost of Units Sold (s per unit) Delivery Expenses (per unit) Marketing Expenses (5 per unit) Administrative Expenses (per unit) 1,309.86 1,450.2 50.1 52.00 1,034.37 1.020.68 110.20 110.07 63.87 150.62 13.05 11.06 1.684 32 1,696.6 37.3 52.00 1,053.83 1,120.24 124 13 118.56 126.01 173.60 13.57 10.91 1,757 80 1,989.4 322 55.00 824.10 1.182.71 122.02 125 93 142.86 217.77 14 50 10.72 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00 0.0 0.00 0.00 0.00 0.00 Corporate-Level Financials Historical Corporate-Level Financials Year 7 Year 8 Year 9 Company industry Company Industry Company Industry F Average F Average F Average Company F's Projected Corporate-Level Financials Year 10 Year 11 Year 12 1,883 -2.446 8.351 0 0 0 Total Interest Costs (5000) Stock -Shares Issued (000) Shares Retired Annual Dividend (s per share) 6,072 2.500 0 11,873 278 72 ol 2.500 0 10.153 278 258 0.28 0 1.000 24 338 0 0 0 0 0 0.50 0.19 0.50 0.50 0.39 0.00 0.00 0.00 Income Statements Company F's Projected Income Statements Year 10 Year 11 Year 12 $ $ $ Net Revenues - AC Cameras UAV Dromes Total Cost of Units Sold Delivery Costs Marketing Costs Administrative Expenses Total Operating Profit Interest Costs Pre-Tax Profit Income Taxes Net Profit Earnings Per Share (5 per share) Dividends Per Share per share) Return On Average Equity (ROE) Shares of Stock Outstanding (000) Total Shareholder Equity Company F's Historical Income Statements Year 7 Year 8 Year 9 $ 263,068 $ 261,463 $ 240,264 200 200 226,078 194,120 463 268 487 541 434384 292,150 272,821 211,953 27,977 29,217 25,842 63.600 67.700 63,000 9.195 9.680 9,575 70.346 108,123 124.014 6,072 1,883 -2.446 62,274 105,240 125.460 18 682 31,572 37 638 S 43,592 S 73.668 S 87.822 $1.74 $2.68 $3.31 $0.50 $0.50 $0.50 20.9% 22.2% 21.2% 25,000 27,500 26,500 $ 250,218 $ 413,337 $ 414,820 88 olo olo oooooooo OOOOOOOOOOOO OOO OOOOO OO O1092 $ $0.00 $0.00 0.0% 26,500 $ 414 820 $0.00 $0.00 0.0% 26,500 $ 414,820 S $0.00 $ 26,500 $ 414,820
