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Scenario and Sensitivity Model Questions - -0.27 B E E B - | || | E IMI 1 x v fx A B C D

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Scenario and Sensitivity Model Questions - -0.27 B E E B - | || | E IMI 1 x v fx A B C D G H | L FINANCIAL STATEMENTS Balance Sheet Check 2014 Historical Results 22 2013 K 2011 k K Forecast Period 2017 2015 OK OK 2015 OK 20 8 OH Revenue Growth 10 Discount Rate G COGS 10% Change ***ara Discount Rate 1-3 Change EVEBITDA Change Share 170 Raw Growth -9% Change Share 172 17 114 15 178 Amon Rank ABS Output Driver Pos Neg 17 | 17a 17 1BTITA 181 Impact on Share Price by Change in motion E E DCF Se Model * D Bes Ela : N 2 $ 2 3 4 * 5 6 \ & 7 | 8 819 40 Q WE IR T [ 1 Y CI W U | 0 Questions.xlsx D E G H 2011 Historical Results 2012 2013 OK OK 2 FINANCIAL STATEMENTS 3 Bilance Sheet Check 2014 OK 2015 OK Forecast Period 2017 2018 OK OK 2016 OK 2019 OK 2120 OK OK +5% 5% Rank ABS Pos Output Driver Neg 176 Resumption 177 Revenue Growh -15% 176 00091 179 DiscountRate 16% 180 EVEBITDA 15 I The formula contained in the ORANGE cell (H178) is ($A$177:$G$180, $F$177:$F$180,0).MATCH($A$177,5A$177: $F$177,00) Hint: do not forget the $ when using absolute references. Page 8 of 10 Prev Page ** BER 15 FY 2 A $ 4 3 % 5 0 6 & 7 V 8 A -O 9 9 WE E R T Y U E - - O [ t P ] [ A S DSF you J . L J C 3 V " i N ! M . Scenario and Sensitivity Model Questions - -0.27 B E E B - | || | E IMI 1 x v fx A B C D G H | L FINANCIAL STATEMENTS Balance Sheet Check 2014 Historical Results 22 2013 K 2011 k K Forecast Period 2017 2015 OK OK 2015 OK 20 8 OH Revenue Growth 10 Discount Rate G COGS 10% Change ***ara Discount Rate 1-3 Change EVEBITDA Change Share 170 Raw Growth -9% Change Share 172 17 114 15 178 Amon Rank ABS Output Driver Pos Neg 17 | 17a 17 1BTITA 181 Impact on Share Price by Change in motion E E DCF Se Model * D Bes Ela : N 2 $ 2 3 4 * 5 6 \ & 7 | 8 819 40 Q WE IR T [ 1 Y CI W U | 0 Questions.xlsx D E G H 2011 Historical Results 2012 2013 OK OK 2 FINANCIAL STATEMENTS 3 Bilance Sheet Check 2014 OK 2015 OK Forecast Period 2017 2018 OK OK 2016 OK 2019 OK 2120 OK OK +5% 5% Rank ABS Pos Output Driver Neg 176 Resumption 177 Revenue Growh -15% 176 00091 179 DiscountRate 16% 180 EVEBITDA 15 I The formula contained in the ORANGE cell (H178) is ($A$177:$G$180, $F$177:$F$180,0).MATCH($A$177,5A$177: $F$177,00) Hint: do not forget the $ when using absolute references. Page 8 of 10 Prev Page ** BER 15 FY 2 A $ 4 3 % 5 0 6 & 7 V 8 A -O 9 9 WE E R T Y U E - - O [ t P ] [ A S DSF you J . L J C 3 V " i N ! M

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