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EXHIBIT 9 | Sensitivity Analysis of Project IRRs by Price, Volume, Development, and Production Costs Price Premium Above Expected Minimum Price Unit Volume (First 20 Years) 0% 5% 10% 15% 1,500 1,750 2,000 2,250 2,500 2,750 3,000 10.5% 11.9% 13.0% 14.1% 15.2% 16.1% 17.1% 10.9% 12.3% 13.5% 14.6% 15.7% 16.6% 17.6% 11.3% 12.7% 13.9% 15.1% 16.1% 17.1% 18.1% 11.7% 13.1% 14.4% 15.5% 16.6% 17.6% 18.6% Cost of Goods Sold as a Percentage of Sales Development Costs 78% 80% 82% 84% $6,000,000,000 $7,000,000,000 $8,000,000,000 $9,000,000,000 $10,000,000,000 21.3% 19.4% 17.9% 16.6% 15.5% 18.7% 17.0% 15.7% 14.5% 13.5% 15.9% 14.4% 13.2% 12.1% 11.2% 12.6% 11.3% 10.3% 9.4% 8.6% Note: The IRR consistent with base case assumptions is 15.7% and is indicated in italics in the table. Source: Case writer's analysis