.2 1.656.9 1,551.4 1,451.4 L356.6 31.673.6 tdalirstillthstIss sA her As m• Don NPV 44.356 Revenue growth 2020-2025 4.0% Net Debt (3Q'17) Ternunal revenue growth 3.75% PV of Operating leases 2C3 Terminal MIT Margin 450% 4-Reached by 2020 Implied Equity Value 36,077 Terminal The Rate 26