ommodities (1.384) (156) Restructuring 70 Discretionary R&D/IT (140) Depreciation (35) Other Performance 204 2015 Estimate 15,293 2,000 EBIT Margin 13.1% Yoy Incremental Margin -36% Yoy Incremental Margin ex FX 20% Note: Net Performance 134 Souse Deicht DeGriao Sank Page 4 Deutsche Bank

tal liabilities Total shareholders' equity Net debt Key Company Metrics Sales growth (%) DB EPS growth (%) Payout ratio (%) EBITDA Margin (%) EBIT Margin (%) ROE (%) Net debt/equity (%) Net interest cover (x) DuPont Analysis EBIT margin (%) x Asset turnover (x) x Financial cost ratio (x) x Tax