Scorecard_Field Scorecard_ValueFileStamp 20 Y_13 Bvg._SAM US(Q)_Fye(Dec)_2016Q2_1995.xlsxDate 11/10/2016 <-- 2016:Q2Ticker SAM US EquityPiotroski 4Piotroski, trend Reduc. (Bad)Ncav Pos. NNcav Pos., trend Increas. (Good)Tang.B.V. Pos. YTang.B.V. Pos., trend Increas. (Good)Leverage Neg.Leverage, trendInterest Cov. 0Interest Cov., trend No Int.Exp.Altman 9.2Altman, trend Reduc. (Bad)Roic 18.3%Roic, avg. 20.3%Roic, d.s. 1.6%Roic, trend Reduc. (Bad)P/TB 4.7P/TB, avg 4.1Fcfy 3.9%Fcfy, avg. 1.2%Fcfy, d.s. 1.6%Off Bal.Sheet Items/Tot.Assets 3.1%

Altman & Co.

12/2015 EQY Calc.: Calc.: 1.2 * RR879 RR150 BS065 RR803 Copy Copy RR800 RA12 RA12 RA12 RR208 Calc.: RX206 BS180 RR208 RR264SAM US USD Tr.E/Tr. ND/Ebi Altman' Tang.Ass. Work.Cap. Ret.Earnings T12M_Oi(L) Hist.Market Tot.Liab. Tr.12M Net S&P S&P S&P Net Debt ND/Ebi Ebitdar Curr.Rent Net Debt EBIT/Int.E2005 Q2 2005 115.50 -64.692005 Q3 2005 117.45 -61.652005 Q4 2005 117.68 -63.942006 Q1 2006 119.65 63.63 15.35 19.68 246.48 -59.172006 Q2 2006 10.0 130.59 67.87 19.93 24.13 407.54 37.34 264.18 -65.122006 Q3 2006 9.5 146.32 74.53 25.81 26.11 460.18 44.88 276.84 -75.532006 Q4 2006 10.0 153.10 79.69 28.29 27.95 507.31 45.89 285.43 -82.372007 Q1 2007 Neg. 10.4 158.91 88.42 34.06 34.10 477.13 41.72 300.99 -81.472007 Q2 2007 Neg. 10.4 174.49 95.58 40.85 35.78 564.03 49.04 314.53 -92.792007 Q3 2007 Neg. 11.8 180.17 91.06 44.03 31.19 699.63 49.45 322.80 -91.012007 Q4 2007 Neg. 8.2 196.58 77.74 44.69 40.33 534.43 64.37 341.65 -95.492008 Q1 2008 Neg. 9.0 185.15 59.26 25.63 30.38 669.13 66.88 345.32 -71.162008 Q2 2008 Neg. 7.1 204.53 8.46 34.16 31.31 561.40 74.31 369.83 -19.392008 Q3 2008 Neg. 8.7 201.60 -2.25 33.86 28.24 685.03 66.89 386.81 -10.572008 Q4 2008 Neg. 5.3 218.38 1.80 37.23 21.86 379.35 79.73 398.40 -9.072009 Q1 2009 Neg. 5.1 215.31 3.78 38.60 26.08 317.24 74.09 403.35 -4.152009 Q2 2009 Neg. 5.5 237.07 13.62 47.67 32.57 425.30 85.18 404.05 -28.592009 Q3 2009 Neg. 6.5 250.18 28.01 56.81 49.23 532.87 86.26 411.64 -44.802009 Q4 2009 Neg. 7.2 261.56 39.24 61.35 54.27 667.04 89.78 415.05 -55.482010 Q1 2010 Neg. 8.1 252.88 37.61 54.08 61.78 732.64 86.14 428.01 -38.662010 Q2 2010 Neg. 9.2 264.72 44.07 53.66 67.01 974.46 93.54 439.50 -53.682010 Q3 2010 Neg. 8.7 265.54 38.52 47.42 75.19 930.15 99.21 455.25 -53.192010 Q4 2010 20.5 Neg. 11.7 257.15 39.81 43.44 81.18 1,311.54 92.94 463.80 -48.97 -6.78 20.492011 Q1 2011 38.1 Neg. 11.2 261.39 48.78 45.87 77.46 1,206.00 90.58 471.94 -45.32 -5.80 38.142011 Q2 2011 37.7 Neg. 10.1 283.88 59.62 52.79 95.75 1,171.77 103.26 476.34 -66.32 95 -34.66 37.682011 Q3 2011 55.7 Neg. 8.9 273.43 45.61 40.85 96.80 952.21 102.70 486.68 -48.12 96 -39.11 55.752011 Q4 2011 16.6 Neg. 13.2 271.11 58.67 46.28 103.66 1,391.99 87.74 513.00 -49.45 97 -25.80 16.582012 Q1 2012 23.1 Neg. 13.8 274.99 58.68 50.04 108.91 1,377.40 81.96 524.10 -38.16 98 -43.91 23.072012 Q2 2012 114.0 Neg. 13.0 303.04 61.11 60.54 87.43 1,549.63 95.02 537.64 -40.52 99 -1.6 23.74 0.96 -44.35 114.022012 Q3 2012 Neg. 11.4 333.45 67.05 76.31 94.33 1,434.69 105.57 569.28 -62.21 00 -1.2 23.56 1.00 -35.112012 Q4 2012 1000.0 Neg. 12.0 356.95 73.45 87.66 95.58 1,703.61 114.39 580.22 -73.84 01 -2.1 19.13 0.99 -47.87 1,043.912013 Q1 2013 Neg. 15.5 342.79 57.48 79.87 93.43 2,046.41 99.73 602.88 -31.50 02 -2.3 19.12 1.30 -52.612013 Q2 2013 Neg. 13.6 374.23 40.96 84.70 102.03 2,173.23 123.23 636.71 -24.06 03 -1.4 24.28 1.30 -42.892013 Q3 2013 Neg. 15.3 428.75 48.23 110.39 110.96 3,116.10 151.01 686.68 -43.09 04 -2.0 25.81 1.30 -59.792013 Q4 2013 Neg. 16.1 440.39 59.90 128.93 113.09 3,086.22 141.99 739.05 -48.89 05 -1.9 29.14 1.30 -63.942014 Q1 2014 Neg. 17.0 475.68 58.27 137.25 116.80 3,142.73 135.26 786.97 -27.39 06 -2.1 34.34 1.40 -82.372014 Q2 2014 Neg. 13.6 530.19 49.60 162.68 125.24 2,882.86 162.14 837.25 -30.70 07 -1.9 47.78 0.80 -95.492014 Q3 2014 Neg. 13.8 568.61 65.28 200.60 143.65 2,858.08 159.91 890.57 -56.60 08 0.0 29.80 1.30 -9.072014 Q4 2014 1000.0 Neg. 16.7 601.48 97.29 211.10 146.57 3,865.24 169.02 903.01 -75.82 09 -0.6 72.59 1.40 -55.482015 Q1 2015 1000.0 Neg. 16.3 651.94 148.35 215.36 155.31 3,565.00 160.51 918.67 -121.63 10 -0.4 99.91 1.30 -48.972015 Q2 2015 Neg. 13.5 688.83 162.89 232.00 161.64 3,148.64 177.83 939.26 -146.51 11 -0.3 123.85 1.40 -49.452015 Q3 2015 Neg. 11.5 687.23 139.48 209.60 161.87 2,823.32 196.12 962.62 -134.14 12 -0.5 117.79 2.00 -73.842015 Q4 2015 Neg. 11.4 641.72 112.44 171.00 156.18 2,620.16 184.18 959.93 -93.66 13 -0.2 141.70 2.70 -48.892016 Q1 2016 Neg. 10.9 604.15 80.97 117.25 145.27 2,334.05 172.48 949.26 -50.66 14 -0.3 184.91 3.20 -75.822016 Q2 2016 Neg. 9.3 586.89 57.18 79.89 140.24 1,949.35 178.34 941.87 #N/A #N/A #N/A -27.11 15 -0.3 202.46 3.40 -93.66

0.0

5.0

10.0

15.0

20.0

2005 Q2 2007 Q4 2010 Q2 2012 Q4 2015 Q2

Altman's Z-Score

0

100

200

2007 Q1 2009 Q1 2011 Q1 2013 Q1 2015 Q1

'Ocf-Int.Exp.'

0

500

1,000

1,500

0.0

0.2

0.4

0.6

0.8

1.0

2007 Q2 2010 Q2 2013 Q2 2016 Q2

Eb

it/I

.E.

Ne

t D

./E

bit

Leverage & Coverage Ratio (based on Ebit)

ND/Ebit Tr.E/Tr.Ie 4 Perc. Media Mobile (ND/Ebit)

-2.5-2.0-1.5-1.0-0.50.00.5

05 06 07 08 09 10 11 12 13 14 15Ad

j.N

.D/E

bit

da

r

Adj. Lev. Ratio --> based on adj. net d. [net d.+ (Rent.Exp. x 7) and

Ebitdar (before or plus rental costs)

Piotr&Co

12/2015 EQY IS040 CF015 BS035 Time … E/Cf r. BS051 RR053BS081 I RI I CSAM US USD Inc(L.)_bef_ Cfo Tot.Ass. ROA CFO F_ROA F_CFO Roa Cfr t_R Acc Long Term Cur.R.Shares t_L t_Li t_S S GP CDt_A t_G Piot2005 Q2 2005 5.14 9.72 116.87 3.3 14.22005 Q3 2005 4.19 7.31 118.83 2.8 13.92005 Q4 2005 2.27 7.24 119.05 3.1 13.92006 Q1 2006 1.82 18.07 121.03 3.3 13.92006 Q2 2006 7.99 -8.85 131.96 13.7% 20.0% 13.7% 6.3% 1 1 1 1 3.1 13.91 1 1 62006 Q3 2006 5.91 14.20 147.70 15.0% 25.5% 1.3% 10.6% 1 1 1 1 2.9 14.01 1 52006 Q4 2006 2.48 5.55 154.48 14.4% 22.9% -0.6% 8.5% 1 1 1 2.9 13.92 1 1 1 62007 Q1 2007 5.77 -2.13 160.29 15.8% 6.3% 1.5% -9.6% 1 1 1 3.4 14.31 1 1 1 62007 Q2 2007 6.79 15.52 175.87 13.9% 21.9% -2.0% 8.1% 1 1 1 3.2 14.33 1 42007 Q3 2007 3.18 10.34 181.55 11.6% 18.6% -2.3% 7.0% 1 1 1 3.0 14.38 1 42007 Q4 2007 6.76 30.07 197.96 13.4% 32.0% 1.8% 18.6% 1 1 1 1 2.3 14.20 1 1 62008 Q1 2008 -3.74 10.02 186.53 7.3% 36.9% -6.1% 29.6% 1 1 1 1.9 13.97 1 1 52008 Q2 2008 8.53 10.96 205.90 8.0% 33.4% 0.7% 25.4% 1 1 1 1 1.1 14.04 1 52008 Q3 2008 -0.30 6.20 202.98 5.8% 29.8% -2.1% 23.9% 1 1 1 1.0 14.16 1 42008 Q4 2008 3.60 12.67 219.76 4.0% 19.9% -1.8% 15.8% 1 1 1 1.0 14.18 1 42009 Q1 2009 1.37 0.12 216.69 6.5% 14.6% 2.4% 8.2% 1 1 1 1 1.1 14.26 1 1 1 72009 Q2 2009 11.92 31.59 238.44 7.8% 23.9% 1.4% 16.1% 1 1 1 1 1.2 14.19 1 1 1 72009 Q3 2009 10.37 16.83 251.56 12.5% 28.1% 4.6% 15.6% 1 1 1 1 1.4 14.25 1 1 62009 Q4 2009 7.46 17.02 262.94 13.6% 28.6% 1.1% 15.0% 1 1 1 1 1.5 14.25 1 1 1 1 82010 Q1 2010 6.26 -3.01 254.26 14.7% 25.5% 1.1% 10.8% 1 1 1 1 1.5 14.07 1 1 1 1 82010 Q2 2010 16.27 30.72 266.09 16.0% 24.3% 1.3% 8.4% 1 1 1 1 1.6 13.90 1 1 1 1 82010 Q3 2010 15.45 26.36 266.92 17.6% 27.5% 1.6% 9.9% 1 1 1 1 1.5 13.60 1 1 1 72010 Q4 2010 12.17 14.31 258.53 19.0% 25.9% 1.4% 6.9% 1 1 1 1 1.6 13.40 1 1 1 1 82011 Q1 2011 3.96 -2.31 262.77 18.2% 26.3% -0.7% 8.1% 1 1 1 1.7 13.43 1 1 1 1 72011 Q2 2011 28.02 44.75 285.26 22.5% 31.4% 4.3% 8.9% 1 1 1 1 1.7 13.20 1 1 1 1 1 92011 Q3 2011 16.30 15.49 274.81 22.8% 27.3% 0.3% 4.5% 1 1 1 1 1.6 12.87 1 1 1 1 82011 Q4 2011 17.79 14.84 272.49 24.6% 27.1% 1.8% 2.5% 1 1 1 1 1.9 12.82 1 1 1 1 1 92012 Q1 2012 7.49 1.75 277.53 25.4% 28.1% 0.9% 2.6% 1 1 1 1 2.0 12.90 1 1 1 1 82012 Q2 2012 14.35 21.54 305.58 20.3% 19.4% -5.2% -0.8% 1 1 0.57 1.8 12.81 1 1 42012 Q3 2012 20.75 41.50 335.99 21.9% 28.8% 1.6% 7.0% 1 1 1 1 0.57 1.8 12.81 1 52012 Q4 2012 16.87 30.54 359.48 20.4% 32.7% -1.5% 12.3% 1 1 1 0.57 1.8 12.81 1 1 1 62013 Q1 2013 6.91 -12.83 345.33 18.4% 25.2% -2.0% 6.8% 1 1 1 0.74 1.8 12.82 32013 Q2 2013 19.72 30.82 376.77 18.9% 26.4% 0.5% 7.6% 1 1 1 1 0.77 1.4 12.74 1 52013 Q3 2013 25.69 48.89 432.43 19.6% 27.6% 0.8% 8.0% 1 1 1 1 0.58 1.4 12.74 1 52013 Q4 2013 18.08 33.10 444.08 19.1% 27.2% -0.5% 8.0% 1 1 1 0.58 1.6 12.75 1 1 1 62014 Q1 2014 8.32 -8.81 479.36 17.7% 25.7% -1.4% 8.0% 1 1 1 0.53 1.6 12.97 1 1 1 62014 Q2 2014 25.43 47.13 533.87 17.7% 27.5% -0.1% 9.8% 1 1 1 0.53 1.4 12.97 1 1 52014 Q3 2014 37.93 64.24 572.30 19.4% 29.4% 1.8% 9.9% 1 1 1 1 0.53 1.5 12.98 1 1 62014 Q4 2014 19.07 38.65 605.16 17.9% 27.9% -1.5% 10.0% 1 1 1 0.53 1.9 13.07 1 1 52015 Q1 2015 13.74 21.23 655.62 17.4% 31.0% -0.5% 13.6% 1 1 1 0.47 2.5 13.30 1 1 52015 Q2 2015 29.93 57.13 692.51 17.1% 30.8% -0.3% 13.7% 1 1 1 0.47 2.4 13.25 1 1 1 1 72015 Q3 2015 38.62 64.12 690.92 16.1% 28.7% -1.0% 12.7% 1 1 1 0.47 2.1 12.98 1 1 1 62015 Q4 2015 16.12 26.21 645.40 14.6% 25.1% -1.5% 10.4% 1 1 1 0.47 2.0 12.76 1 1 52016 Q1 2016 7.03 6.27 607.83 13.6% 22.8% -1.0% 9.2% 1 1 1 0.41 1.8 12.661 1 1 1 62016 Q2 2016 26.62 42.05 590.57 13.2% 20.8% -0.4% 7.5% 1 1 1 0.41 1.5 12.377 1 4

Profitability Sign. Funding Sign. Effic.

42%

44%

46%

48%

50%

52%

54%

56%

58%

0.0

0.5

1.0

1.5

2.0

2.5

3.0

2007 Q2 2009 Q1 2010 Q4 2012 Q3 2014 Q2 2016 Q1

MarginsA.Turnover

A.Turn. Gm

4 4

65 5

4 4

7 76

8 8 87

87

98

98

45

6

3

5 56 6

56

5 5

76

56

4

0

2

4

6

8

-10%

-5%

0%

5%

10%

2007 Q2 2009 Q1 2010 Q4 2012 Q3 2014 Q2 2016 Q1

Pio

tro

ski

Sco

re

Fcf

y-R

ev

.Gro

wth

Historical Piotroski score, fcfy & revenue growth

Piotr. Fcfy Tr.S.Gr.

Invested Capital & Roic

12/2015 EQY FUND YEARCalc.: Book Value+Total Liab.-Current Liab.-CashRR008 Calc.: FCF - Special Non Cash items (like Deferred Taxes, One time items)RX215 Calc.: Cfo Calc.: CapEx Calc.: Acq.Intang.AssetsVM013 VM014 RX564 RR710SAM US EquityUSD Inv.Cap. Fcf Owner E. Inv.Cap. Check I.C. T12Cfo T12CapEx T12Acq.I.A. W.Roic Roic/W Croic Op.Roic RoicRe-b. RoicYoY N.Gr. Fcfy Ch. Nopat2005 Q2 2005 86.25 5.21 88.28 88.28 18.3% 1.9 28.4% 17.5% 4.812005 Q3 2005 83.98 3.34 86.46 86.46 19.8% 2.2 30.1% 18.5% 3.822005 Q4 2005 85.98 4.22 87.70 87.70 16.5% 1.8 27.6% 16.9% 1.912006 Q1 2006 89.20 17.17 29.93 91.79 91.79 42.34 -12.42 13.4% 1.5 32.6% 22.1% 13.5% 1.432006 Q2 2006 53.80 -10.67 14.05 97.22 97.22 23.77 -9.72 15.3% 1.8 14.5% 26.0% 15.8% 15.8% -7.8% 3.4% 7.452006 Q3 2006 51.58 9.23 19.94 105.42 105.42 30.67 -10.73 15.4% 2.0 18.9% 27.2% 16.7% 16.7% -4.7% 4.3% 5.182006 Q4 2006 50.46 4.20 19.92 110.53 110.53 28.98 -9.06 13.6% 1.6 18.0% 28.2% 16.2% 16.2% 4.1% 3.9% 2.022007 Q1 2007 62.03 -4.67 -1.92 120.55 120.55 8.77 -10.69 15.6% 1.8 -1.6% 32.1% 18.6% 18.6% 65.0% -0.4% 5.092007 Q2 2007 59.60 9.51 18.26 128.72 128.72 33.14 -14.88 15.0% 1.7 14.2% 31.7% 18.0% 18.0% 39.3% 3.2% 8.062007 Q3 2007 65.22 0.27 9.31 133.86 133.86 29.28 -19.97 12.4% 1.5 7.0% 26.1% 14.6% 14.6% 9.5% 1.3% 2.322007 Q4 2007 58.51 23.08 28.19 135.05 135.05 53.79 -25.61 14.4% 1.3 20.9% 32.8% 17.7% 17.7% 35.2% 5.3% 6.292008 Q1 2008 52.55 3.75 36.60 121.22 121.22 65.94 -29.34 10.8% 0.9 30.2% 25.1% 12.8% 12.8% -23.2% 5.5% -1.502008 Q2 2008 116.18 -9.33 17.76 133.09 133.09 61.39 -43.62 10.1% 0.9 13.3% 23.9% 12.0% 12.0% -24.6% 3.2% 8.232008 Q3 2008 129.39 -12.58 4.91 137.54 137.54 57.24 -52.33 7.6% 0.7 3.6% 20.8% 9.7% 9.7% -26.9% 0.7% -0.242008 Q4 2008 143.63 -1.53 -19.70 147.17 147.17 39.84 -59.54 12.8% 1.4 -13.4% 15.5% 8.0% 8.0% -49.4% -5.2% 4.522009 Q1 2009 150.96 -5.05 -28.50 142.88 149.77 29.95 -58.45 15.0% 1.5 -18.9% 19.7% 10.5% 10.2% -8.4% -9.0% 1.372009 Q2 2009 137.06 26.56 7.39 153.64 160.52 50.58 -43.19 16.3% 1.7 4.8% 22.7% 12.2% 11.9% 14.3% 1.7% 11.892009 Q3 2009 132.78 15.14 35.12 165.61 172.49 61.22 -26.10 21.7% 2.3 21.2% 32.5% 18.6% 18.1% 120.1% 6.6% 10.352009 Q4 2009 133.67 11.93 48.58 181.03 181.03 65.57 -16.99 17.5% 2.1 26.8% 33.1% 18.9% 18.9% 182.1% 7.3% 7.452010 Q1 2010 146.72 -5.09 48.54 168.37 176.05 62.43 -13.89 21.8% 2.6 28.8% 39.7% 23.1% 22.1% 159.0% 6.6% 6.262010 Q2 2010 136.02 28.59 50.57 172.77 180.45 61.57 -10.99 23.8% 2.7 29.3% 41.1% 24.7% 23.7% 129.9% 5.2% 16.262010 Q3 2010 132.48 20.55 55.98 167.92 175.60 71.10 -15.11 27.6% 3.1 33.3% 45.1% 27.3% 26.1% 61.6% 6.0% 15.492010 Q4 2010 137.36 10.72 54.78 176.15 176.15 68.39 -13.61 29.9% 2.8 31.1% 45.5% 28.1% 28.1% 61.6% 4.2% 12.172011 Q1 2011 147.40 -4.56 55.30 172.33 182.77 69.08 -13.78 29.4% 2.9 32.1% 45.5% 28.1% 26.7% 33.2% 4.6% 3.952011 Q2 2011 136.36 40.97 67.69 182.05 192.49 83.10 -15.42 34.3% 3.1 37.2% 54.0% 33.6% 32.0% 47.8% 5.8% 28.002011 Q3 2011 144.13 9.22 56.36 172.17 182.61 72.23 -15.87 36.7% 3.5 32.7% 56.9% 35.5% 33.7% 32.8% 5.9% 16.272011 Q4 2011 155.99 7.53 53.16 193.60 193.60 72.76 -19.60 33.2% 3.4 27.5% 56.1% 35.8% 35.8% 31.9% 3.8% 17.952012 Q1 2012 178.03 -11.77 45.96 195.67 204.46 76.83 -30.87 34.8% 3.7 23.5% 59.2% 37.9% 36.0% 45.6% 3.3% 7.492012 Q2 2012 191.46 3.26 8.24 211.25 220.04 53.62 -45.38 25.8% 2.8 3.9% 44.5% 28.5% 27.2% -5.2% 0.5% 14.362012 Q3 2012 189.69 23.78 22.81 231.12 239.91 79.63 -56.82 25.5% 3.0 9.9% 46.8% 30.0% 28.7% 1.0% 1.6% 20.722012 Q4 2012 196.13 15.04 30.32 261.85 261.85 95.33 -65.01 24.0% 2.9 11.6% 42.0% 26.1% 26.1% -9.4% 1.8% 16.932013 Q1 2013 238.26 -34.01 8.08 246.55 262.56 80.75 -72.67 24.9% 3.3 3.3% 42.3% 26.7% 25.3% -14.5% 0.4% 7.002013 Q2 2013 253.86 6.43 11.25 254.51 270.52 90.03 -78.77 26.3% 3.5 4.4% 43.8% 27.7% 26.3% 15.2% 0.5% 19.862013 Q3 2013 263.56 21.35 8.82 282.14 298.15 97.42 -88.60 25.5% 3.3 3.1% 43.2% 27.1% 25.8% 14.9% 0.3% 25.702013 Q4 2013 290.17 5.55 -0.67 323.37 323.37 99.98 -100.66 24.6% 3.2 -0.2% 38.6% 24.2% 24.2% 19.0% 0.0% 18.192014 Q1 2014 353.18 -52.98 -19.65 345.02 365.51 104.00 -123.65 23.5% 2.6 -5.6% 39.5% 24.4% 23.0% 22.1% -0.6% 8.402014 Q2 2014 377.77 2.85 -23.23 372.59 393.08 120.31 -143.54 23.3% 2.8 -6.1% 39.9% 24.7% 23.4% 19.7% -0.8% 25.312014 Q3 2014 392.73 24.40 -20.18 413.29 433.78 135.67 -155.85 24.0% 2.9 -4.9% 41.3% 25.9% 24.6% 29.3% -0.7% 38.142014 Q4 2014 418.59 15.16 -10.57 474.42 474.65 141.21 -151.78 22.8% 2.9 -2.2% 36.7% 22.9% 22.9% 28.9% -0.3% 19.492015 Q1 2015 431.41 2.54 44.94 495.75 533.53 171.25 -126.30 -0.10 23.0% 2.8 9.1% 36.9% 23.0% 21.6% 33.9% 1.3% 13.952015 Q2 2015 427.16 36.94 79.03 515.18 552.96 181.25 -102.21 -0.20 23.1% 2.4 15.3% 36.4% 22.9% 21.5% 31.0% 2.5% 29.892015 Q3 2015 423.51 47.39 102.02 495.36 533.14 181.12 -79.10 -0.30 24.1% 2.6 20.6% 35.6% 22.5% 21.2% 13.9% 3.6% 38.962015 Q4 2015 440.05 7.63 94.50 501.50 501.72 168.68 -74.19 -0.40 20.1% 2.3 18.8% 32.0% 20.3% 20.3% 9.2% 3.6% 16.352016 Q1 2016 455.18 -6.74 85.22 436.03 475.76 153.73 -68.51 -0.40 21.6% 2.3 18.7% 31.2% 19.8% 18.3% -3.7% 3.7% 7.162016 Q2 2016 451.86 29.11 77.39 412.89 452.62 138.65 -61.26 -0.40 22.1% 2.4 17.1% 30.2% 19.2% 17.7% -11.1% 4.0% 26.74

Mdn.: 21.5%

0%

10%

20%

30%

40%

-100%

0%

100%

200%

2006 Q2 2008 Q2 2010 Q2 2012 Q2 2014 Q2 2016 Q2

Cro

ic &

Ro

ic (

%)

Yo

y N

op

at

Gr.

Croic, Roic & Yoy Nopat Growth

YoY N.Gr. Roic 5 Perc. Media Mobile (YoY N.Gr.)

0%

5000%

0.00

100.00

2006 Q2 2008 Q2 2010 Q2 2012 Q2 2014 Q2 2016 Q2Incr.RoicAvg.Cfo Gr.

Incr. Cfo per Incr. CapexAvg.Cfo Gr.

Incr.Roic

Ncav Analysis

12/2015 EQY FUND YEARBS015 BS010 BS011 RR005 BS050 BS047 CF026 IS052 BS081 RR250

SAM US EquityUSD Curr.Assets Cash Mkt.Instr. Tot.Liab. Curr.Liab. Sh.T.Brw. Dvd.Cash Dvd. Sh.Out. Hist.Mcap. DVD.P.Sh.NcavPSh.+DvdDisc_NcavYoY G. %Cash/C.A.Flow_R

2005 Q2 2005

2005 Q3 2005

2005 Q4 2005

2006 Q1 2006

2006 Q2 2006 100.91 45.12 20.00 37.34 33.04 13.9 407.54 4.6 6.4 neg. 44.7% 1.1

2006 Q3 2006 113.76 56.90 18.63 44.88 39.23 14.0 460.18 4.9 6.7 neg. 50.0% 1.0

2006 Q4 2006 120.56 63.15 19.22 45.89 40.87 13.9 507.31 5.4 6.8 neg. 52.4% 0.9

2007 Q1 2007 125.23 61.45 20.03 41.72 36.81 14.3 477.13 5.8 5.7 neg. 49.1% 1.2

2007 Q2 2007 139.81 72.04 20.75 49.04 44.23 14.3 564.03 6.3 6.2 38.6% 51.5% 1.1

2007 Q3 2007 135.81 71.58 19.43 49.45 44.75 14.4 699.63 6.0 8.1 22.2% 52.7% 1.0

2007 Q4 2007 137.89 79.29 16.20 64.37 60.16 14.2 534.43 5.2 7.3 -3.5% 57.5% 0.7

2008 Q1 2008 122.08 71.16 16.20 66.88 62.82 14.0 669.13 4.0 12.1 -32.3% 58.3% 0.6

2008 Q2 2008 78.80 19.39 16.20 74.31 70.34 14.0 561.40 0.3 125.3 -95.0% 24.6% 0.6

2008 Q3 2008 60.77 10.57 16.20 66.89 63.02 14.2 685.03 -0.4 Neg. neg. 17.4% 0.5

2008 Q4 2008 68.85 9.07 16.20 79.73 67.06 14.2 379.35 -0.8 Neg. neg. 13.2% 0.6

2009 Q1 2009 65.36 4.15 16.20 74.09 61.58 14.3 317.24 -0.6 Neg. neg. 6.3% 0.7

2009 Q2 2009 86.41 28.59 16.20 85.18 72.79 14.2 425.30 0.1 346.1 -72.9% 33.1% 0.6

2009 Q3 2009 101.99 44.80 16.20 86.26 73.98 14.3 532.87 1.1 33.9 pos. 43.9% 0.6

2009 Q4 2009 113.03 55.48 16.20 89.78 73.79 14.2 667.04 1.6 28.7 pos. 49.1% 0.6

2010 Q1 2010 106.49 38.66 16.20 86.14 68.88 14.1 732.64 1.4 36.0 pos. 36.3% 0.7

2010 Q2 2010 120.47 53.68 16.20 93.54 76.40 13.9 974.46 1.9 36.2 ###### 44.6% 0.7

2010 Q3 2010 119.77 53.19 16.20 99.21 81.25 13.6 930.15 1.5 45.2 37.0% 44.4% 0.6

2010 Q4 2010 112.00 48.97 16.20 92.94 72.20 13.4 1,311.54 1.4 68.8 -12.8% 43.7% 0.6

2011 Q1 2011 118.82 45.32 16.20 90.58 70.05 13.4 1,206.00 2.1 42.7 45.5% 38.1% 0.8

2011 Q2 2011 142.20 66.32 16.20 103.26 82.58 13.2 1,171.77 3.0 30.1 52.3% 46.6% 0.7

2011 Q3 2011 128.17 48.12 16.20 102.70 82.55 12.9 952.21 2.0 37.4 30.9% 37.5% 0.8

2011 Q4 2011 125.72 49.45 16.20 87.74 67.05 12.8 1,391.99 3.0 36.7 108.1% 39.3% 0.9

2012 Q1 2012 120.02 38.16 16.20 81.96 61.34 12.9 1,377.40 3.0 36.2 40.3% 31.8% 1.1

2012 Q2 2012 134.09 41.14 16.20 95.02 72.98 0.06 12.8 1,549.63 3.1 39.7 3.4% 30.7% 1.1

2012 Q3 2012 150.51 62.84 16.20 105.57 83.46 0.06 12.8 1,434.69 3.5 31.9 77.2% 41.7% 0.9

2012 Q4 2012 162.34 74.46 16.20 114.39 88.89 0.06 12.8 1,703.61 3.7 35.5 26.4% 45.9% 0.8

2013 Q1 2013 132.25 32.29 16.20 99.73 74.77 0.05 12.8 2,046.41 2.5 62.9 -14.0% 24.4% 1.1

2013 Q2 2013 139.00 24.87 16.20 123.23 98.03 0.05 12.7 2,173.23 1.2 137.8 -59.4% 17.9% 1.0

2013 Q3 2013 173.37 43.73 16.20 151.01 125.15 0.05 12.7 3,116.10 1.8 139.3 -49.9% 25.2% 0.9

2013 Q4 2013 164.28 49.52 16.20 141.99 104.38 0.05 12.7 3,086.22 1.7 138.5 -53.3% 30.1% 0.9

2014 Q1 2014 156.47 27.98 16.20 135.26 98.21 0.06 13.0 3,142.73 1.6 148.2 -35.5% 17.9% 1.1

2014 Q2 2014 174.42 31.28 16.20 162.14 124.82 0.06 13.0 2,882.86 0.9 234.7 -23.5% 17.9% 1.0

2014 Q3 2014 187.67 57.18 16.20 159.91 122.39 0.06 13.0 2,858.08 2.1 103.0 21.8% 30.5% 0.9

2014 Q4 2014 207.46 76.40 16.20 169.02 110.17 0.06 13.1 3,865.24 2.9 100.5 68.2% 36.8% 1.0

2015 Q1 2015 250.41 122.16 16.20 160.51 102.06 0.06 13.3 3,565.00 6.8 39.7 313.4% 48.8% 1.1

2015 Q2 2015 281.26 146.98 16.20 177.83 118.37 0.06 13.3 3,148.64 7.8 30.4 724.0% 52.3% 1.0

2015 Q3 2015 272.27 134.61 16.20 196.12 132.79 0.06 13.0 2,823.32 5.9 37.1 174.3% 49.4% 0.9

2015 Q4 2015 223.60 94.19 16.20 184.18 111.16 0.06 12.8 2,620.16 3.1 66.5 5.1% 42.1% 1.0

2016 Q1 2016 182.50 51.13 16.20 172.48 101.52 0.06 12.7 2,334.05 0.8 233.1 -88.3% 28.0% 1.1

2016 Q2 2016 168.32 27.58 16.20 178.34 111.14 0.06 12.4 1,949.35 -0.8 Neg. neg. 16.4% 1.1

Set Year 2016 26Q neg.Set Q/S Q2 22Q neg.Set Stock SAM US Equity 6Q neg.Set Crncy USD 1Q neg.Per 2016:Q2

-500%

0%

500%

1000%

1500%

2000%

2500%

0.0

100.0

200.0

300.0

400.0

2009 Q1 2011 Q1 2013 Q1 2015 Q1Ncav Gr.(YoY)P/Ncav

Disc_Ncav YoY G.

Long Term Tangible Growth

12/2015 EQY FUND YEARBS138 BS161 RR250 RR010 CF026 IS052 BS081 Calc.: IS180 Calc.: Calc.:SAM US EquityUSD Discl.Int. Goodw. Hist.Market C. Nav (Tce) Dvd.Cash Dvd. Sh.Out. DVD.P.Sh.Int/Nav Tbv/Sh.(2)P/TB T.B.Gr.(YoY)Dvd.C Expected Rate Of Return On Plan Assets (PensionO(U)_Pens Min.Op.L

1987198819891990199119921993 8.851994 6.60

31/12/95 1995 469.09 54.80 19.8 2.8 8.631/12/96 1996 205.62 64.83 20.1 3.2 3.2 16.4%27/12/97 1997 165.66 71.28 20.4 3.5 2.3 8.0%26/12/98 1998 168.02 82.03 20.5 4.0 2.0 14.8%25/12/99 1999 131.48 83.45 19.2 4.3 1.6 8.6% -3.0630/12/00 2000 1.48 1.48 181.24 73.69 16.7 2.0% 4.3 2.5 -0.2% -6.3929/12/01 2001 1.38 1.38 285.82 78.18 16.3 1.8% 4.7 3.7 8.6% 7.8 -5.6728/12/02 2002 1.38 1.38 229.77 78.83 15.8 1.7% 4.9 3.0 4.4% 7.8 -0.14 -4.5727/12/03 2003 1.38 1.38 260.03 62.52 16.9 2.2% 3.6 4.3 -26.5% 7.8 -0.17 -3.6025/12/04 2004 1.38 1.38 300.25 78.37 14.2 1.8% 5.4 3.9 50.3% 7.8 -0.24 -2.4531/12/05 2005 1.38 1.38 348.05 85.98 13.9 1.6% 6.1 4.1 12.0% 7.0 -0.27 -1.3530/12/06 2006 1.38 1.38 507.31 108.59 13.9 1.3% 7.7 4.7 26.7% 7.0 -0.52 -7.1329/12/07 2007 1.38 1.38 534.43 133.59 14.2 1.0% 9.3 4.0 20.9% 7.0 -0.41 -6.9927/12/08 2008 1.38 1.38 379.35 140.03 14.2 1.0% 9.8 2.7 5.1% -0.92 -7.5226/12/09 2009 1.38 1.38 667.04 173.16 14.2 0.8% 12.1 3.9 23.2% -0.89 -6.6825/12/10 2010 1.38 1.38 1,311.54 165.59 13.4 0.8% 12.3 8.0 1.7% -1.10 -5.7531/12/11 2011 1.38 1.38 1,391.99 184.75 12.8 0.7% 14.3 7.6 16.7% -1.37 -5.2729/12/12 2012 2.54 2.54 1,703.61 245.09 12.8 1.0% 18.9 7.0 32.4% -1.62 -9.3528/12/13 2013 3.68 3.68 3,086.22 302.09 12.7 1.2% 23.4 10.3 23.6% -1.17 -9.4027/12/14 2014 3.68 3.68 3,865.24 436.14 13.1 0.8% 33.1 8.9 41.4% -2.41 -7.2626/12/15 2015 3.68 3.68 1,949.35 412.23 12.4 0.9% 33.0 4.8 -0.2% -2.31 -17.52

Years C.a.g.r20 13.18%

15 Y 14.5%10 Y 18.4%5 Y 21.9%

0.0%

2.0%

4.0%

2.7%2.5%

3.1%

2.4%

1.6%

3.1%

Off Bal.Sheet Items/Tot.Assets

0

5

10

15

-50%

0%

50%

100%

1995 1998 2001 2004 2007 2010 2013

p/t

an

g.b

.va

lue

pe

r sh

are

Ta

ng

.Bo

ok

V.p

er

Sh

. G

r.

(%)

Historical p/tb & tb value per share growth

tbvgr ptb

Ratio Analysis

12/2015 EQY FUND YEARRR029 RR028 RR002 RR037 Calc.: A0082 A0098 Calc.: RR243 RR057 RR900 RR138 RR242 BS032 RR056 RR801 A0003SAM US EquityUSD ROE ROA EBIT Tax R. Eb.(1-t) cp_ltd ltd Roic Pr.Marg.Gr.Marg.P/E A.Turn.F.A.Turn.PP&E(n) Inv.Turn.Cost of R. Cost of G.S.1987 Y 19871988 Y 19881989 Y 19891990 Y 19901991 Y 19911992 Y 19921993 Y 1993 4.90 4.90 6.3 54.0 1.86 35.481994 Y 1994 117.6 32.5 8.89 8.89 7.9 54.0 4.1 42.5 3.54 9.2 52.851995 Y 1995 19.2 10.9 9.42 43.2 5.35 3.9 51.2 2.8 31.2 6.16 8.7 73.851996 Y 1996 14.0 9.7 13.16 43.6 7.42 4.4 49.9 25.0 2.2 18.4 14.63 8.6 95.791997 Y 1997 11.1 7.5 12.59 43.1 7.16 10.00 4.1 51.0 22.0 1.8 8.5 28.78 6.7 90.00 90.01998 Y 1998 10.3 6.9 14.60 44.8 8.06 10.00 4.3 51.3 18.6 1.6 6.4 28.17 6.1 89.39 89.41999 Y 1999 13.4 9.4 16.88 42.0 9.79 6.3 55.7 13.1 1.5 6.5 26.09 5.0 78.40 78.42000 Y 2000 14.3 10.6 16.12 41.0 9.51 5.9 55.9 14.2 1.8 7.2 27.05 5.4 84.06 84.12001 Y 2001 10.3 7.6 11.48 40.7 6.81 4.2 56.3 28.2 1.8 7.3 23.90 6.5 81.69 81.72002 Y 2002 10.9 8.0 11.67 39.3 7.08 4.0 59.0 31.5 2.0 9.8 20.20 10.0 88.37 88.42003 Y 2003 14.9 10.9 15.87 37.8 9.87 5.1 58.8 26.6 2.1 11.2 17.06 9.4 85.61 85.62004 Y 2004 17.7 12.8 19.49 37.7 12.13 5.8 59.5 24.6 2.2 12.7 17.22 7.8 87.97 88.02005 Y 2005 18.9 13.7 23.32 39.0 14.22 6.5 59.4 23.4 2.1 10.9 26.53 7.4 96.83 96.82006 Y 2006 18.7 13.3 27.95 42.7 16.01 6.4 57.6 28.3 2.1 10.0 30.70 7.9 121.16 121.22007 Y 2007 18.6 12.8 40.33 46.0 21.78 6.6 55.4 19.3 1.9 8.9 46.20 8.7 152.29 152.32008 Y 2008 5.9 3.9 16.00 48.9 8.17 2.0 46.2 24.8 1.9 4.1 147.92 10.5 214.51 214.52009 Y 2009 19.9 12.9 54.27 42.8 31.06 7.5 51.5 21.1 1.7 2.8 147.02 8.3 201.24 201.22010 Y 2010 29.6 19.2 81.18 38.2 50.19 10.8 55.3 27.7 1.8 3.2 142.89 8.0 207.47 207.52011 Y 2011 37.7 24.9 103.66 36.2 66.16 12.9 55.5 28.0 1.9 3.6 143.59 7.5 228.43 228.42012 Y 2012 27.7 18.8 95.58 37.7 59.51 10.2 54.3 30.0 1.8 3.5 189.95 6.8 265.01 265.02013 Y 2013 25.7 17.5 113.09 37.5 70.74 9.5 52.1 45.8 1.8 3.2 266.56 7.0 354.13 354.12014 Y 2014 24.6 17.3 146.57 37.7 91.35 0.06 0.53 10.0 51.5 43.4 1.7 2.8 381.57 8.1 438.00 438.02015 Y 2015 21.9 15.7 156.17 36.5 99.15 0.06 0.47 10.3 52.3 28.2 1.5 2.4 409.93 8.5 458.32 458.3