Important BPM Model Notes

IMPORTANT NOTE: BPM does not provide any warranties or guarantees relating to the correctness of the formulas or outputs
contained in this model.
Best Practice Modelling

Historical & Forecast Business Planning Model 6.0 (Basic)
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Primary Developer: BPM Cover Notes - This is a simple example of a best practice historical and forecast business planning model. - The purpose of this model is to provide an example of a historical and forecast business planning model developed using bpmToolbox in accordance with the Best Practice Spreadsheet Modelling Standards (Version 6.0). - To navigate or view the content of this model, click on the 'Go to Table of Contents' hyperlink above. - Subscribe to the Best Practice Modelling Network to be notified of new best practice example models. - For more information see: Model Notes
Table of Contents
Go to Cover Sheet
Section & Sheet Titles 1. Overview

1.1. Notes
a. Model Notes
Page 4
5
6
1.2. Keys
a. Keys - Formats & Styles Key - Sheet Naming Key - Range Naming Key
7
8 -
2. Assumptions
2.1. Time Series Assumptions
a. Time Series Assumptions
11
12
13
2.2. Historical Assumptions

a. Income Statement - Historical Assumptions b. Balance Sheet - Historical Assumptions c. Cash Flow Statements - Historical Assumptions
14
15 16 18
2.3. Forecast Assumptions

a. Forecast Assumptions - Operational - Assumptions - Working Capital - Assumptions - Assets - Assumptions - Capital - Assumptions - Taxation - Assumptions - Other Balance Sheet Items - Assumptions
20
21 -
Table of Contents
Go to Cover Sheet
Section & Sheet Titles 3. Outputs

3.1. Historical Outputs
a. Income Statement - Historical Outputs b. Balance Sheet - Historical Outputs c. Cash Flow Statement - Historical Outputs
Page 26
27
28 29 31
3.2. Forecast Outputs

a. Forecast Outputs - Operational - Outputs - Working Capital - Outputs - Assets - Outputs - Capital - Outputs - Taxation - Output Summary - Other Balance Sheet Items - Outputs b. Income Statement - Forecast Outputs c. Balance Sheet - Forecast Outputs d. Cash Flow Statement - Forecast Outputs
33
34 41 42 44
3.3. All Periods Outputs

a. Income Statement - All Periods Outputs b. Balance Sheet - All Periods Outputs c. Cash Flow Statement - All Periods Outputs
48
49 50 52
3.4. Dashboard Outputs

a. Business Planning Summary
54
55
4. Appendices
4.1. Checks
a. Checks - Error Checks - Sensitivity Checks - Alert Checks
56
57
58 -
4.2. Lookup Tables

a. Time Series Lookup Tables b. Capital - Lookup Tables c. Dashboards - Lookup Tables
61
62 65 66 66
Total Pages:
Overview
Section 1.
Section Cover Notes Contains notes explaining the purpose and use of this model and where more help can be obtained. Contains diagrams summarising designated components of the model. Also contains keys explaining the Formats & Styles, Sheet Naming & Range Naming principles used in this model.
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Notes
Sub-Section 1.1.
Sub-Section Cover Notes Contains general notes about the purpose and use of this model. Also contains contact details for BPM.
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Model Notes
x h O Area:
General
Notes
This model has been designed to provide an example of how bpmToolbox 6.0 can be used within Microsoft Excel to efficiently build a basic historical and forecast business planning model in strict accordance with the Best Practice Spreadsheet Modelling Standards & Conventions. This model has been developed for those who: - Have purchased bpmToolbox 6.0; - Are currently trialing bpmToolbox; or - Are interested in understanding the benefits of using bpmToolbox.
Intended Audience
Simplification Standards Applied Theme Annotations
Many components of this model have been significantly simplified to prevent confusion. This model has been built in accordance with Version 6.0 of the Best Practice Spreadsheet Modelling Standards. This workbook has been built using the bpmToolbox 6.0 default theme - i.e. Styles, Colors, Page Setups, etc. These settings may differ from your personal or corporate theme settings. Brief notes have been included throughout the Section Cover Sheets and Assumption Sheets within this workbook. These notes have been included in accordance with Best Practice and are not designed to provide detailed insight into how this model was developed or how it could be improved or enhanced. BPM specializes in the provision of Best Practice Spreadsheet Modelling products and services, including the provision of training and support services. This training and support ranges from our base courses (such as the bpmToolbox Fundamentals course) to courses customized to meet specific client needs. For more information on BPM's training and support services, contact BPM on the details provided below. Address: BPM Level 8, 330 Collins Street Melbourne, Victoria Australia 3000 +613 9244 9800 Info@bpmglobal.com www.bestpracticemodelling.com
Further Training
Contact BPM
Telephone: Email: Website:
To order the Best Practice Spreadsheet Modelling Standards, go to: Downloads: www.bestpracticemodelling.com/downloads/standards
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Keys
Sub-Section 1.2.
Sub-Section Cover Notes Contains Formats & Styles, Sheet Naming and Range Naming Keys explaining the approaches adopted throughout this model.
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Keys
x h O Formats & Styles Key

Color Name
Font Colors Input (Blue) Output (Black) Mixed Cell (Green) Error (Red) Hyperlink Fill Colors Assumption Sheet (Grey) Work in Progress (WIP) (Yellow) Hidden White (White) Indicates sheet is an Assumption Sheet. Indicates ranges contain data or formulae that remain uncertain or are subject to change. Indicates Assumption Cells when used on the interior of Assumption Sheets. Indicates ranges contain 100% input text / numbers. Indicates ranges contain 100% formulas / output calculations. Indicates ranges contain a mixture of input text / numbers and formulae / output calculations. Indicates calculation errors normally used as a conditional format. Indicates ranges contain Hyperlinks to other ranges within the workbook or to other linked models. Input Output Mixed Cell Error Hyperlink
Color Description / Purpose
Example
Hyperlink Type
Cover Hyperlink Home Hyperlink Custom Hyperlink Sheet Top Hyperlink Sheet Left Hyperlink Sheet Right Hyperlink
Hyperlink Description / Purpose

Links Contents Sheet to Cover Sheet. Links worksheets to Contents Sheet. Links worksheet ranges to other worksheet ranges in the model. Scrolls worksheet to the upper-most viewable section. Links active worksheet to the previous visible worksheet. Links active worksheet to the next visible worksheet.
Example
Go To Cover Sheet Go To Table of Contents Linked Cell Text
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Keys
x h O Sheet Naming Key

Base Sheet Type
Cover* Contents* Section Cover Sub-Section Cover Blank Assumption Time Series Assumption
Sheet Description / Purpose

Indicates the start of a workbook. Contains the workbook Table of Contents. Indicates the start of a workbook section. Indicates the start of a workbook sub-section. Residual category (contains assumptions). Contains time series titles for entering assumptions over a set time frame. Residual category (contains outputs). Contains time series titles for calculating outputs over a set time frame.
Suffix
Cover Contents SC SSC BA TA
Blank Output Time Series Output
BO TO
Lookup
Contains lookup data for use in forms / controls and in worksheet formulas. Contains model diagrams and flow charts. Contains a chart. Contains formulas that reference worksheet ranges in another workbook. Contains worksheet ranges that are referenced by formulas in another workbook.
LU
Model Schematic Chart Model Import** Model Export**
MS Cht MI ME
Notes * The names of the Cover and Contents sheets are always "Cover" and "Contents" respectively. ** Model Import and Export Sheet suffixes are used in addition to the other sheet naming suffixes.
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Keys
x h O Range Naming Key

Range Type / Purpose
Row Array Column Array Block Array Multiple Area Array Base Cell Lookup Hyperlink Check Box Drop Down Box List Box Option Button Spin Button Scroll Bar Residual
Range Description / Purpose

Single row, multiple column, single area array. Single column, multiple row, single area array. Single area, multiple cell, non-row, non-column array. Multiple area (includes areas of any type). Single cell base cell (for OFFSET function reference, etc). Names a Lookup Table Array on a Lookup Sheet. Hyperlink cell reference. Check box cell link. Drop down box cell link. List box cell link. Option button cell link. Spin button cell link. Scroll bar cell link. Residual category (i.e. single cell non-base cells, etc).
Prefix
RA_ CA_ BA_ MAA_ BC_ LU_ HL_ CB_ DD_ LB_ OB_ S_ SB_ No Prefix
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Assumptions
Section 2.
Section Cover Notes Contains base case assumptions used to generate the base case outputs.
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Time Series Assumptions

Sub-Section 2.1.
Sub-Section Cover Notes: Contains assumptions used to drive the time series analysis within the model.
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Time Series Assumptions

x h O Time Series Assumptions

Core Time Series Assumptions
Title Periodicity Financial Year End Start Date Periods Denomination 31 1-Jan-10 8 2 Primary Annual 12
Historical & Forecast Period Titles

Include in Period Titles? Actual Periods Budget Periods TRUE 3 -
Data & Projections - Timing Assumptions

Data Term Basis Data - Active Periods Projections - Start Date 1 3 1-Jan-13
Notes - A Financial Year End assumption of 28th of February is assumed to be a month end financial year end, even in a leap year. - The "Model Denomination" assumption will not necessarily automatically change the denomination of the outputs of this model. - A "Budget Period" refers to either a period in the current financial year or periods containing combined actual and forecast data. - "Data & Projections - Timing Assumptions" are used as the basis for related data and projections time series sheets. - "Inactive Columns Treatment" will only be operative if macros have been included in the active workbook to manage inactive data and projections columns.
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Historical Assumptions
Sub-Section 2.2.
Sub-Section Cover Notes: Contains historical financial statement assumptions.
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Income Statement - Historical Assumptions

x h O
Year Ending 31 December 2010 (A) 2011 (A) 2012 (A) -
Income Statement
Revenue Cost of Goods Sold 125.0 (25.0) 100.0 (40.0) 60.0 (13.5) (0.6) (14.1) 45.9 (3.3) 42.6 (12.8) 29.8 128.1 (25.6) 102.5 (41.0) 61.5 (13.8) (0.6) (14.5) 47.0 (3.3) 43.8 (13.1) 30.6 131.3 (26.3) 105.1 (42.0) 63.0 (14.2) (0.7) (14.8) 48.2 (3.3) 44.9 (13.5) 31.5 134.6 (26.9) 107.7 (43.1) 64.6 (14.5) (0.7) (15.2) 49.4 (3.3) 46.2 (13.8) 32.3 138.0 (27.6) 110.4 (44.2) 66.2 (14.9) (0.7) (15.6) 50.6 (3.4) 47.2 (14.2) 33.1 141.4 (28.3) 113.1 (45.3) 67.9 (15.3) (0.7) (16.0) 51.9 (3.6) 48.3 (14.5) 33.8 145.0 (29.0) 116.0 (46.4) 69.6 (15.7) (0.7) (16.4) 53.2 (3.6) 49.6 (14.9) 34.7 148.6 (29.7) 118.9 (47.5) 71.3 (16.0) (0.7) (16.8) 54.5 (3.6) 51.0 (15.3) 35.7
Gross Margin
Operating Expenditure
EBITDA
Depreciation Amortization Depreciation & Amortization
EBIT
Interest Expense
Net Profit Before Tax

Tax Expense / (Benefit)
Net Profit After Tax
Notes 1. All assumptions are entered in $Millions. 2. Revenue and expense assumptions are entered as positive and negative numbers respectively.
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Balance Sheet - Historical Assumptions

x h O
Balance Sheet
Current Assets
Opening Cash at Bank Change in Cash at Bank Cash at Bank Accounts Receivable Other Current Assets Total Current Assets
Opening 1-Jan-10
5.0 10.3 3.0 18.3
5.0 2.5 7.5 10.3 3.0 20.8
7.5 4.6 12.1 10.5 4.0 26.7
12.1 12.5 24.6 10.8 5.0 40.4
24.6 12.8 37.4 11.1 6.0 54.5
37.4 18.1 55.5 11.3 7.0 73.9
55.5 13.4 68.9 11.6 8.0 88.5
68.9 13.8 82.7 11.9 9.0 103.5
82.7 14.1 96.8 12.2 10.0 119.0
Non-Current Assets
Assets Intangibles Deferred Tax Assets Other Non-Current Assets Total Non-Current Assets 146.5 13.4 4.0 163.9 182.1 146.5 13.4 4.0 163.9 184.6 148.0 15.3 5.0 168.3 195.0 149.6 17.3 6.0 172.9 213.3 151.2 19.3 7.0 177.5 232.0 152.9 21.4 8.0 182.2 256.1 154.6 23.5 9.0 187.1 275.6 156.3 25.7 10.0 192.0 295.5 158.1 27.9 11.0 197.0 316.0
Total Assets Current Liabilities

Accounts Payable Tax Payable Interest Payable Ordinary Equity Dividends Payable Other Current Liabilities Total Current Liabilities
8.0 12.8 5.0 25.8
8.0 12.8 5.0 25.8
8.2 13.1 6.0 27.3
8.4 13.5 7.0 28.9
8.6 13.8 8.0 30.5
8.8 14.2 9.0 32.0
9.1 14.5 10.0 33.6
9.3 14.9 11.0 35.2
9.5 15.3 12.0 36.8
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Balance Sheet - Historical Assumptions

x h O
Non-Current Liabilities
Debt Deferred Tax Liabilities Other Non-Current Liabilities Total Non-Current Liabilities 50.0 6.0 56.0 81.8 100.3 50.0 6.0 56.0 81.8 102.8 50.0 7.0 57.0 84.3 110.7 50.0 8.0 58.0 86.9 126.4 50.0 9.0 59.0 89.5 142.6 55.0 10.0 65.0 97.0 159.1 55.0 11.0 66.0 99.6 176.0 55.0 12.0 67.0 102.2 193.4 55.0 13.0 68.0 104.8 211.2
Total Liabilities Net Assets Equity

Ordinary Equity Other Equity Retained Profits - Unadjusted Retained Profits - Balancing Item Retained Profits
75.0 5.0 20.3 20.3 100.3 -
75.0 5.0 22.8 22.8 102.8 -
75.0 5.0 30.7 30.7 110.7 -
75.0 5.0 46.4 46.4 126.4 -
75.0 5.0 62.6 62.6 142.6 -
75.0 5.0 79.1 79.1 159.1 -
75.0 5.0 96.0 96.0 176.0 -
75.0 5.0 113.4 113.4 193.4 -
75.0 5.0 131.2 131.2 211.2 -
Total Equity
Total Error Check Result Total Alert Check Result Notes 1. All assumptions are entered in $Millions.
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Cash Flow Statements - Historical Assumptions

x h O
Cash Flow Statement

Cash Flow from Operating Activities
Revenue Decrease in Accounts Receivable Cash Receipts Cost of Goods Sold Operating Expenditure Increase in Accounts Payable Cash Payments Interest Paid Tax Paid Decrease in Other Current Assets Increase in Other Current Liabilities Net Cash Flow from Operating Activities 125.0 10.7 135.7 (25.0) (40.0) (8.0) (73.0) (3.3) (3.5) (1.0) 1.0 56.0 128.1 (0.3) 127.9 (25.6) (41.0) 0.2 (66.4) (3.3) (12.8) (1.0) 1.0 45.4 131.3 (0.2) 131.1 (26.3) (42.0) 0.2 (68.1) (3.3) (13.1) (1.0) 1.0 46.6 134.6 (0.3) 134.3 (26.9) (43.1) 0.2 (69.8) (3.3) (13.5) (1.0) 1.0 47.8 138.0 (0.3) 137.7 (27.6) (44.2) 0.2 (71.5) (3.4) (13.8) (1.0) 1.0 48.9 141.4 (0.3) 141.1 (28.3) (45.3) 0.2 (73.3) (3.6) (14.2) (1.0) 1.0 50.1 145.0 (0.3) 144.7 (29.0) (46.4) 0.2 (75.2) (3.6) (14.5) (1.0) 1.0 51.5 148.6 (0.3) 148.3 (29.7) (47.5) 0.3 (77.0) (3.6) (14.9) (1.0) 1.0 52.8
Cash Flow from Investing Activities

Capital Expenditure - Assets Capital Expenditure - Intangibles Decrease in Other Non-Current Assets Increase in Other Non-Current Liabilities Net Cash Flow from Investing Activities (15.0) (2.5) (1.0) 1.0 (17.5) (15.4) (2.6) (1.0) 1.0 (17.9) (15.8) (2.6) (1.0) 1.0 (18.4) (16.2) (2.7) (1.0) 1.0 (18.8) (16.6) (2.8) (1.0) 1.0 (19.3) (17.0) (2.8) (1.0) 1.0 (19.8) (17.4) (2.9) (1.0) 1.0 (20.3) (17.8) (3.0) (1.0) 1.0 (20.8)
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Cash Flow Statements - Historical Assumptions

x h O
Cash Flow from Financing Activities

Debt Drawdowns Debt Repayments Equity Raisings Equity Repayments Dividends Paid During Period Increase in Other Equity Net Cash Flow from Financing Activities (14.9) 0.1 (14.8) 23.7 (15.3) 0.1 (15.2) 12.2 (15.7) 0.1 (15.6) 12.6 (16.2) 0.1 (16.1) 12.9 50.0 (45.0) (16.5) 0.1 (11.4) 18.2 (16.9) 0.1 (16.8) 13.5 (17.4) 0.1 (17.3) 13.9 (17.8) 0.1 (17.7) 14.2
Net Increase / (Decrease) in Cash Held

Notes 1. All assumptions are entered in $Millions.
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Forecast Assumptions
Sub-Section 2.3.
Sub-Section Cover Notes: Contains forecast assumptions for all areas within the underlying business.
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x h O
Year Ending 31 December 2013 (F) 2014 (F) 2015 (F) 2016 (F) 2017 (F)
Operational - Assumptions
Revenue Cost of Goods Sold Operating Expenditure Capital Expenditure - Assets Capital Expenditure - Intangibles Notes 1. Revenue and expense assumptions are entered in $Millions. 2. Revenue and expense assumptions are entered as positive numbers. 125.0 25.0 40.0 15.0 2.5 128.1 25.6 41.0 15.4 2.6 131.3 26.3 42.0 15.8 2.6 134.6 26.9 43.1 16.2 2.7 138.0 27.6 44.2 16.6 2.8 141.4 28.3 45.3 17.0 2.8 145.0 29.0 46.4 17.4 2.9 148.6 29.7 47.5 17.8 3.0
Working Capital - Assumptions

Accounts Receivable
Opening Balance Debtors Days 1-Jan-13 10.8 30 30 30 30 30 30 30 30
Accounts Payable
Opening Balance Creditors Days 1-Jan-13 8.4 45 45 45 45 45 45 45 45
Notes 1. Debtors/creditors days assumptions cannot be greater than the number of days in that period.
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x h O Assets - Assumptions
Assets
Opening Balance Depreciation - % of Capital Expenditure 1-Jan-13 149.6 90.0% 90.0% 90.0% 90.0% 90.0% 90.0% 90.0% 90.0%
Intangibles
Opening Balance Depreciation - % of Capital Expenditure 1-Jan-13 17.3 25.0% 25.0% 25.0% 25.0% 25.0% 25.0% 25.0% 25.0%
Capital - Assumptions
Debt
Funds Drawn ($Millions) Opening Balance Debt Drawdowns Debt Repayments Closing Debt Balance Drawdowns/Repayments % into Period Interest Expense Opening Interest Payable ($Millions) Base Interest Rate (% p.a.) Margin (% p.a.) All-In Interest Rate (% p.a.) 1-Jan-13 5.00% 1.50% 5.00% 1.50% 5.00% 1.50% 5.00% 1.50% 6.50% 5.00% 1.50% 6.50% 5.00% 1.50% 6.50% 5.00% 1.50% 6.50% 5.00% 1.50% 6.50% 1-Jan-13 50.0 50.0% 50.0% 50.0% 50.0 50.0 50.0% 50.0 50.0 45.0 55.0 50.0% 55.0 55.0 50.0% 55.0 55.0 50.0% 55.0 55.0 50.0%
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x h O
Ordinary Equity
Ordinary Equity Balances ($Millions) Opening Balance Equity Raisings Equity Repayments Closing Ordinary Equity Dividends Payable & Paid Opening Dividends Payable ($Millions) Determination Method: Dividend Declaration Period? Dividend Payout Ratio - % of NPAT Assumed Dividends - Not Applied ### 1-Jan-13 1 Yes 50.0% Yes 50.0% Yes 50.0% Yes 50.0% Yes 50.0% Yes 50.0% Yes 50.0% Yes 50.0% 1-Jan-13 75.0 75.0 75.0 75.0 75.0 75.0 75.0 75.0 75.0 75.0 75.0
Include Opening Retained Profits in NPAT?
### Limit dividends to prevent negative Cash at Bank? Notes 1. Dividends cannot be negative. 2. Dividends cannot exceed accumulated Retained Profits (Opening Retained Profits + Net Profit After Tax) in any period.
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x h O Taxation - Assumptions
Tax Payable
Opening Tax Payable ($Millions) 1-Jan-13 13.5
Taxation Rate
Corporate Taxation Rate 30.0%
Notes 1. Tax is assumed to be paid in the period after tax expense is incurred. 2. The Corporate Taxation Rate is limited to a minimum of 0% and a maximum of 100%. 3. Tax calculations do not allow for tax losses, deferred tax assets or deferred tax liabilities - i.e. negative tax expense will result in cash tax receipts.
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x h O Other Balance Sheet Items - Assumptions

Cash at Bank
Opening Cash at Bank 24.6
Retained Profits
Opening Retained Profits 46.4 Opening 1-Jan-13 5.0 6.0 7.0 8.0 5.0
Other Balance Sheet Items

Other Other Other Other Other Current Assets Non-Current Assets Current Liabilities Non-Current Liabilities Equity
3.0 4.0 5.0 6.0 5.1
4.0 5.0 6.0 7.0 5.2
5.0 6.0 7.0 8.0 5.3
6.0 7.0 8.0 9.0 5.4
7.0 8.0 9.0 10.0 5.5
8.0 9.0 10.0 11.0 5.6
9.0 10.0 11.0 12.0 5.7
10.0 11.0 12.0 13.0 5.8
Notes 1. Balance sheet items are specified in $Millions. 2. Other Current Assets and Other Current Liabilities assumed to impact Other Operating Cash Flows. 3. Other Non-Current Assets and Non-Other Current Liabilities assumed to impact Other Investing Cash Flows. 3. Other Equity is assumed to impact Other Financing Cash Flows.
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Outputs
Section 3.
Section Cover Notes Contains base case outputs - i.e. includes only the impacts of base case assumptions.
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Historical Outputs
Sub-Section 3.1.
Sub-Section Cover Notes: Contains historical financial statement outputs.
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Income Statement - Historical Outputs

x h O
Income Statement
Revenue Cost of Goods Sold 125.0 (25.0) 100.0 (40.0) 60.0 (14.1) 45.9 (3.3) 42.6 (12.8) 29.8 128.1 (25.6) 102.5 (41.0) 61.5 (14.5) 47.0 (3.3) 43.8 (13.1) 30.6 131.3 (26.3) 105.1 (42.0) 63.0 (14.8) 48.2 (3.3) 44.9 (13.5) 31.5 -
Gross Margin
EBITDA
Depreciation & Amortization
EBIT
Interest Expense


Notes 1. All revenues and expenses are specified in $Millions. 2. Revenues and expenses appear as positive and negative numbers respectively.
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Balance Sheet - Historical Outputs

x h O
Balance Sheet
Current Assets
Cash at Bank Accounts Receivable Other Current Assets Total Current Assets
Opening 1-Jan-10
5.0 10.3 3.0 18.3
7.5 10.3 3.0 20.8
12.1 10.5 4.0 26.7
24.6 10.8 5.0 40.4
Non-Current Assets
Assets Intangibles Deferred Tax Assets Other Non-Current Assets Total Non-Current Assets 146.5 13.4 4.0 163.9 182.1 146.5 13.4 4.0 163.9 184.6 148.0 15.3 5.0 168.3 195.0 149.6 17.3 6.0 172.9 213.3 -

8.0 12.8 5.0 25.8
8.0 12.8 5.0 25.8
8.2 13.1 6.0 27.3
8.4 13.5 7.0 28.9
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Balance Sheet - Historical Outputs

x h O
Debt Deferred Tax Liabilities Other Non-Current Liabilities Total Non-Current Liabilities 50.0 6.0 56.0 81.8 100.3 50.0 6.0 56.0 81.8 102.8 50.0 7.0 57.0 84.3 110.7 50.0 8.0 58.0 86.9 126.4 -

Ordinary Equity Other Equity Retained Profits
75.0 5.0 20.3 100.3 -
75.0 5.0 22.8 102.8 -
75.0 5.0 30.7 110.7 -
75.0 5.0 46.4 126.4 -
Total Equity
Total Error Check Result Total Alert Check Result Notes 1. All balances are specified in $Millions.
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Cash Flow Statement - Historical Outputs

x h O
Cash Flow Statement

Cash Receipts Cash Payments Interest Paid Tax Paid Decrease in Other Current Assets Increase in Other Current Liabilities Net Cash Flow from Operating Activities 135.7 (73.0) (3.3) (3.5) (1.0) 1.0 56.0 127.9 (66.4) (3.3) (12.8) (1.0) 1.0 45.4 131.1 (68.1) (3.3) (13.1) (1.0) 1.0 46.6 -

Capital Expenditure - Assets Capital Expenditure - Intangibles Decrease in Other Non-Current Assets Increase in Other Non-Current Liabilities Net Cash Flow from Investing Activities (15.0) (2.5) (1.0) 1.0 (17.5) (15.4) (2.6) (1.0) 1.0 (17.9) (15.8) (2.6) (1.0) 1.0 (18.4) -
181965865.xlsx.ms_office CFS_Hist_TO Printed: 8:08 AM on 10/21/2013
Page 31 of 66
Cash Flow Statement - Historical Outputs

x h O

Debt Drawdowns Debt Repayments Equity Raisings Equity Repayments Dividends Paid During Period Increase in Other Equity Net Cash Flow from Financing Activities (14.9) 0.1 (14.8) 23.7 (15.3) 0.1 (15.2) 12.2 (15.7) 0.1 (15.6) 12.6 -

Notes 1. All cash flows are specified in $Millions.
181965865.xlsx.ms_office CFS_Hist_TO Printed: 8:08 AM on 10/21/2013
Page 32 of 66
Forecast Outputs
Sub-Section 3.2.
Sub-Section Cover Notes: Contains forecast outputs for all areas within the underlying business other than financial statements.
181965865.xlsx.ms_office Fcast_OP_SSC Printed: 8:08 AM on 10/21/2013
Page 33 of 66
Forecast Outputs
x h O
Operational - Outputs
Revenue Cost of Goods Sold Operating Expenditure Capital Expenditure - Assets Capital Expenditure - Intangibles 134.6 26.9 43.1 16.2 2.7 138.0 27.6 44.2 16.6 2.8 141.4 28.3 45.3 17.0 2.8 145.0 29.0 46.4 17.4 2.9 148.6 29.7 47.5 17.8 3.0
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Page 34 of 66
Forecast Outputs
x h O Working Capital - Outputs

Accounts Receivable Balances ($Millions)
Opening Balance Revenue Cash Receipts Closing Balance 10.8 134.6 (134.3) 11.1 11.1 138.0 (137.7) 11.3 11.3 141.4 (141.1) 11.6 11.6 145.0 (144.7) 11.9 11.9 148.6 (148.3) 12.2
Closing Balance Periodic Growth (% per Year) Debtors Days

Total Error Checks Result -
N/A 30
-
2.5% 30
-
2.5% 30
-
2.2% 30
-
2.8% 30
-
Accounts Payable Balances ($Millions)

Opening Balance Costs Cash Payments Closing Balance 8.4 70.0 (69.8) 8.6 8.6 71.7 (71.5) 8.8 8.8 73.5 (73.3) 9.1 9.1 75.4 (75.2) 9.3 9.3 77.3 (77.0) 9.5
Closing Balance Periodic Growth (% per Year) Creditors Days

Total Error Checks Result -
N/A 45
-
2.5% 45
-
2.5% 45
-
2.2% 45
-
2.8% 45
-
Page 35 of 66
Forecast Outputs
x h O Assets - Outputs
Assets Balances ($Millions)
Opening Balance Capital Expenditure - Assets Depreciation Closing Balance Total Error Checks Result 149.6 16.2 (14.5) 151.2 151.2 16.6 (14.9) 152.9 152.9 17.0 (15.3) 154.6 154.6 17.4 (15.7) 156.3 156.3 17.8 (16.0) 158.1 -
Intangibles Balances ($Millions)

Opening Balance Capital Expenditure - Intangibles Amortization Closing Balance Total Error Checks Result 17.3 2.7 (0.7) 19.3 19.3 2.8 (0.7) 21.4 21.4 2.8 (0.7) 23.5 23.5 2.9 (0.7) 25.7 25.7 3.0 (0.7) 27.9 -
Page 36 of 66
Forecast Outputs
x h O Capital - Outputs
Debt - Outputs
Funds Drawn ($Millions) Opening Balance Debt Drawdowns Debt Repayments Closing Debt Balance Interest Expense Base Interest Rate (% p.a.) Margin (% p.a.) All-In Interest Rate (% p.a.) Months in Financial Year Period % of Full Year Drawdowns/Repayments % into Period Average Debt Outstanding Interest Expense Opening Interest Payable ($Millions) Interest Expense Interest Paid Closing Interest Payable 5.00% 1.50% 6.50% 12 100.0% 50.0% 50.0 3.3 3.3 (3.3) 5.00% 1.50% 6.50% 12 100.0% 50.0% 52.5 3.4 3.4 (3.4) 5.00% 1.50% 6.50% 12 100.0% 50.0% 55.0 3.6 3.6 (3.6) 5.00% 1.50% 6.50% 12 100.0% 50.0% 55.0 3.6 3.6 (3.6) 5.00% 1.50% 6.50% 12 100.0% 50.0% 55.0 3.6 3.6 (3.6) 50.0 50.0 50.0 50.0 (45.0) 55.0 55.0 55.0 55.0 55.0 55.0 55.0
Page 37 of 66
Forecast Outputs
x h O
Ordinary Equity - Outputs
Ordinary Equity Balances ($Millions) Opening Balance Equity Raisings Equity Repayments Closing Ordinary Equity Dividends Payable & Paid Opening Balance Dividends Declared During Period Dividends Paid During Period Closing Dividends Payable Total Error Checks Result Alert Check (Limited Dividends) Dividends Payable & Paid - Calculation Determination Method: Dividend Declaration Period? Opening Retained Profits Net Profit After Tax (NPAT) Maximum Dividends Allowed Opening Cash at Bank Cash Flow Available for Dividends Total Available Cash For Dividends Dividend Payout Ratio - % of NPAT Assumed Dividends - Not Applied Target Dividends Declared Actual Dividends Declared % of NPAT Yes 46.4 32.3 78.7 24.6 29.4 54.0 50.0% 16.2 16.2 Yes 62.6 33.1 95.6 37.8 34.7 72.5 50.0% 16.5 16.5 Yes 79.1 33.8 112.9 56.0 30.4 86.4 50.0% 16.9 16.9 Yes 96.0 34.7 130.7 69.5 31.3 100.7 50.0% 17.4 17.4 Yes 113.4 35.7 149.0 83.4 32.1 115.5 50.0% 17.8 17.8 16.2 (16.2) 16.5 (16.5) 16.9 (16.9) 17.4 (17.4) 17.8 (17.8) 75.0 75.0 75.0 75.0 75.0 75.0 75.0 75.0 75.0 75.0
Page 38 of 66
Forecast Outputs
x h O Taxation - Output Summary

Tax Expense ($Millions)
Revenue Cost of Goods Sold Operating Expenditure Depreciation Amortization Interest Expense Net Profit Before Tax (NPBT) Accounting Taxable Profit / (Loss) Corporate Taxation Rate Tax Expense / (Benefit) 134.6 (26.9) (43.1) (14.5) (0.7) (3.3) 46.2 46.2 30.0% 13.8 138.0 (27.6) (44.2) (14.9) (0.7) (3.4) 47.2 47.2 30.0% 14.2 141.4 (28.3) (45.3) (15.3) (0.7) (3.6) 48.3 48.3 30.0% 14.5 145.0 (29.0) (46.4) (15.7) (0.7) (3.6) 49.6 49.6 30.0% 14.9 148.6 (29.7) (47.5) (16.0) (0.7) (3.6) 51.0 51.0 30.0% 15.3
Tax Payable (& Paid)

Opening Balance Tax Expense / (Benefit) Tax Paid Closing Balance 13.5 13.8 (13.5) 13.8 13.8 14.2 (13.8) 14.2 14.2 14.5 (14.2) 14.5 14.5 14.9 (14.5) 14.9 14.9 15.3 (14.9) 15.3
Page 39 of 66
Forecast Outputs
x h O Other Balance Sheet Items - Outputs

Other Current Assets ($Millions)
Opening Balance Movement Closing Balance 5.0 1.0 6.0 6.0 1.0 7.0 7.0 1.0 8.0 8.0 1.0 9.0 9.0 1.0 10.0
Other Non-Current Assets ($Millions)

Other Current Liabilities ($Millions)

Other Non-Current Liabilities ($Millions)

Other Equity ($Millions)

Page 40 of 66
Income Statement - Forecast Outputs

x h O
Income Statement
Revenue Cost of Goods Sold 134.6 (26.9) 107.7 (43.1) 64.6 (15.2) 49.4 (3.3) 46.2 (13.8) 32.3 138.0 (27.6) 110.4 (44.2) 66.2 (15.6) 50.6 (3.4) 47.2 (14.2) 33.1 141.4 (28.3) 113.1 (45.3) 67.9 (16.0) 51.9 (3.6) 48.3 (14.5) 33.8 145.0 (29.0) 116.0 (46.4) 69.6 (16.4) 53.2 (3.6) 49.6 (14.9) 34.7 148.6 (29.7) 118.9 (47.5) 71.3 (16.8) 54.5 (3.6) 51.0 (15.3) 35.7 -
Gross Margin
EBITDA
EBIT
Interest Expense


Error Check
Notes 1. All revenues and expenses are specified in $Millions. 2. Revenues and expenses enter the Income Statement as positive and negative numbers respectively. Go to Balance Sheet - Forecast Outputs
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Page 41 of 66
Balance Sheet - Forecast Outputs

x h O
Balance Sheet
Current Assets
Cash at Bank Accounts Receivable Other Current Assets Total Current Assets 37.8 11.1 6.0 54.9 56.0 11.3 7.0 74.4 69.5 11.6 8.0 89.1 83.4 11.9 9.0 104.2 97.6 12.2 10.0 119.8
Non-Current Assets
Assets Intangibles Deferred Tax Assets Other Non-Current Assets Total Non-Current Assets 151.2 19.3 7.0 177.5 232.4 152.9 21.4 8.0 182.2 256.6 154.6 23.5 9.0 187.1 276.2 156.3 25.7 10.0 192.0 296.2 158.1 27.9 11.0 197.0 316.8

Accounts Payable Tax Payable Debt Interest Payable Ordinary Equity Dividends Payable Other Current Liabilities Total Current Liabilities
8.6 13.8 8.0 30.5
8.8 14.2 9.0 32.0
9.1 14.5 10.0 33.6
9.3 14.9 11.0 35.2
9.5 15.3 12.0 36.8
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Page 42 of 66
Balance Sheet - Forecast Outputs

x h O
Debt Deferred Tax Liabilities Other Non-Current Liabilities Total Non-Current Liabilities 50.0 9.0 59.0 89.5 143.0 55.0 10.0 65.0 97.0 159.6 55.0 11.0 66.0 99.6 176.6 55.0 12.0 67.0 102.2 194.1 55.0 13.0 68.0 104.8 212.0

75.0 5.4 62.6 143.0 -
75.0 5.5 79.1 159.6 -
75.0 5.6 96.0 176.6 -
75.0 5.7 113.4 194.1 -
75.0 5.8 131.2 212.0 -
Total Equity
Total Error Check Result Alert Check (Negative Cash) Notes 1. All balances are specified in $Millions. Go to Income Statement - Forecast Outputs Go to Cash Flow Statement - Forecast Outputs
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Page 43 of 66
Cash Flow Statement - Forecast Outputs

x h O
Direct Cash Flow Statement

Cash Receipts Cash Payments Interest Paid Tax Paid Decrease in Other Current Assets Increase in Other Current Liabilities Net Cash Flow from Operating Activities 134.3 (69.8) (3.3) (13.5) (1.0) 1.0 47.8 137.7 (71.5) (3.4) (13.8) (1.0) 1.0 48.9 141.1 (73.3) (3.6) (14.2) (1.0) 1.0 50.1 144.7 (75.2) (3.6) (14.5) (1.0) 1.0 51.5 148.3 (77.0) (3.6) (14.9) (1.0) 1.0 52.8

Capital Expenditure - Assets Capital Expenditure - Intangibles Decrease in Other Non-Current Assets Increase in Other Non-Current Liabilities Net Cash Flow from Investing Activities (16.2) (2.7) (1.0) 1.0 (18.8) (16.6) (2.8) (1.0) 1.0 (19.3) (17.0) (2.8) (1.0) 1.0 (19.8) (17.4) (2.9) (1.0) 1.0 (20.3) (17.8) (3.0) (1.0) 1.0 (20.8)

Debt Drawdowns Debt Repayments Equity Raisings Equity Repayments Dividends Paid During Period Increase in Other Equity Net Cash Flow from Financing Activities (16.2) 0.4 (15.8) 13.2 50.0 (45.0) (16.5) 0.1 (11.4) 18.2 (16.9) 0.1 (16.8) 13.5 (17.4) 0.1 (17.3) 13.9 (17.8) 0.1 (17.7) 14.2
181965865.xlsx.ms_office CFS_Fcast_TO Printed: 8:08 AM on 10/21/2013
Page 44 of 66

x h O
Indirect Cash Flow Statement

Net Profit After Tax (Add Back) Tax Expense (Add Back) Total Debt Interest Expense (Add Back) Total Book Depreciation & Amortisation Decrease in Accounts Receivable Increase in Accounts Payable Interest Paid Tax Paid Decrease in Other Current Assets Increase in Other Current Liabilities Net Cash Flow from Operating Activities 32.3 13.8 3.3 15.2 (0.3) 0.2 (3.3) (13.5) (1.0) 1.0 47.8 33.1 14.2 3.4 15.6 (0.3) 0.2 (3.4) (13.8) (1.0) 1.0 48.9 33.8 14.5 3.6 16.0 (0.3) 0.2 (3.6) (14.2) (1.0) 1.0 50.1 34.7 14.9 3.6 16.4 (0.3) 0.2 (3.6) (14.5) (1.0) 1.0 51.5 35.7 15.3 3.6 16.8 (0.3) 0.3 (3.6) (14.9) (1.0) 1.0 52.8

Capital Expenditure - Assets Capital Expenditure - Intangibles Decrease in Other Non-Current Assets Increase in Other Non-Current Liabilities Net Cash Flow from Investing Activities (16.2) (2.7) (1.0) 1.0 (18.8) (16.6) (2.8) (1.0) 1.0 (19.3) (17.0) (2.8) (1.0) 1.0 (19.8) (17.4) (2.9) (1.0) 1.0 (20.3) (17.8) (3.0) (1.0) 1.0 (20.8)

Debt Drawdowns Debt Repayments Equity Raisings Equity Repayments Dividends Paid During Period Increase in Other Equity Net Cash Flow from Financing Activities (16.2) 0.4 (15.8) 13.2 50.0 (45.0) (16.5) 0.1 (11.4) 18.2 (16.9) 0.1 (16.8) 13.5 (17.4) 0.1 (17.3) 13.9 (17.8) 0.1 (17.7) 14.2
Page 45 of 66

x h O
Page 46 of 66

x h O
Capital Providers - Cash Flow Reconciliation

Net Cash Flow from Operating Activities Net Cash Flow from Investing Activities (Add Back) Interest Paid Cash Flow Available To Capital Providers Interest Paid Debt Drawdowns Debt Repayments Increase in Other Equity Cash Flow Available to Equity (CFAE) Equity Raisings Equity Repayments Cash Flow Available for Dividends Dividends Paid During Period Net Increase / (Decrease) in Cash Held Total Error Checks Result Notes 1. All values are stated in $Millions unless stated otherwise. Go to Income Statement - Forecast Outputs Go to Balance Sheet - Forecast Outputs 47.8 (18.8) 3.3 32.2 (3.3) 0.4 29.4 29.4 (16.2) 13.2 48.9 (19.3) 3.4 33.0 (3.4) 50.0 (45.0) 0.1 34.7 34.7 (16.5) 18.2 50.1 (19.8) 3.6 33.9 (3.6) 0.1 30.4 30.4 (16.9) 13.5 51.5 (20.3) 3.6 34.7 (3.6) 0.1 31.3 31.3 (17.4) 13.9 52.8 (20.8) 3.6 35.6 (3.6) 0.1 32.1 32.1 (17.8) 14.2 -
Page 47 of 66
All Periods Outputs

Sub-Section 3.3.
Sub-Section Cover Notes: Contains the Income Statement, Balance Sheet and Cash Flow Statement for all periods.
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Page 48 of 66
Income Statement - All Periods Outputs

x h O
Year Ending 31 December 2010 (A) 2011 (A) 2012 (A) 2013 (F) 2014 (F) 2015 (F) 2016 (F) 2017 (F)
Income Statement
Revenue Cost of Goods Sold 125.0 (25.0) 100.0 (40.0) 60.0 (14.1) 45.9 (3.3) 42.6 (12.8) 29.8 128.1 (25.6) 102.5 (41.0) 61.5 (14.5) 47.0 (3.3) 43.8 (13.1) 30.6 131.3 (26.3) 105.1 (42.0) 63.0 (14.8) 48.2 (3.3) 44.9 (13.5) 31.5 134.6 (26.9) 107.7 (43.1) 64.6 (15.2) 49.4 (3.3) 46.2 (13.8) 32.3 138.0 (27.6) 110.4 (44.2) 66.2 (15.6) 50.6 (3.4) 47.2 (14.2) 33.1 141.4 (28.3) 113.1 (45.3) 67.9 (16.0) 51.9 (3.6) 48.3 (14.5) 33.8 145.0 (29.0) 116.0 (46.4) 69.6 (16.4) 53.2 (3.6) 49.6 (14.9) 34.7 148.6 (29.7) 118.9 (47.5) 71.3 (16.8) 54.5 (3.6) 51.0 (15.3) 35.7
Gross Margin
EBITDA
EBIT
Interest Expense

Notes 1. All revenues and expenses are specified in $Millions. 2. Revenues and expenses appear as positive and negative numbers respectively.
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Page 49 of 66
Balance Sheet - All Periods Outputs

x h O
Balance Sheet
Current Assets
Cash at Bank Accounts Receivable Other Current Assets Total Current Assets
Opening 1-Jan-10
5.0 10.3 3.0 18.3
7.5 10.3 3.0 20.8
12.1 10.5 4.0 26.7
24.6 10.8 5.0 40.4
37.8 11.1 6.0 54.9
56.0 11.3 7.0 74.4
69.5 11.6 8.0 89.1
83.4 11.9 9.0 104.2
97.6 12.2 10.0 119.8
Non-Current Assets
Assets Intangibles Deferred Tax Assets Other Non-Current Assets Total Non-Current Assets 146.5 13.4 4.0 163.9 182.1 146.5 13.4 4.0 163.9 184.6 148.0 15.3 5.0 168.3 195.0 149.6 17.3 6.0 172.9 213.3 151.2 19.3 7.0 177.5 232.4 152.9 21.4 8.0 182.2 256.6 154.6 23.5 9.0 187.1 276.2 156.3 25.7 10.0 192.0 296.2 158.1 27.9 11.0 197.0 316.8

8.0 12.8 5.0 25.8
8.0 12.8 5.0 25.8
8.2 13.1 6.0 27.3
8.4 13.5 7.0 28.9
8.6 13.8 8.0 30.5
8.8 14.2 9.0 32.0
9.1 14.5 10.0 33.6
9.3 14.9 11.0 35.2
9.5 15.3 12.0 36.8
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Page 50 of 66
Balance Sheet - All Periods Outputs

x h O
Debt Deferred Tax Liabilities Other Non-Current Liabilities Total Non-Current Liabilities 50.0 6.0 56.0 81.8 100.3 50.0 6.0 56.0 81.8 102.8 50.0 7.0 57.0 84.3 110.7 50.0 8.0 58.0 86.9 126.4 50.0 9.0 59.0 89.5 143.0 55.0 10.0 65.0 97.0 159.6 55.0 11.0 66.0 99.6 176.6 55.0 12.0 67.0 102.2 194.1 55.0 13.0 68.0 104.8 212.0

75.0 5.0 20.3 100.3 -
75.0 5.0 22.8 102.8 -
75.0 5.0 30.7 110.7 -
75.0 5.0 46.4 126.4 -
75.0 5.4 62.6 143.0 -
75.0 5.5 79.1 159.6 -
75.0 5.6 96.0 176.6 -
75.0 5.7 113.4 194.1 -
75.0 5.8 131.2 212.0 -
Total Equity
Total Error Check Result Alert Check (Negative Cash) Notes 1. All balances are specified in $Millions.
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Page 51 of 66
Cash Flow Statement - All Periods Outputs

x h O
Direct Cash Flow Statement

Cash Receipts Cash Payments Interest Paid Tax Paid Decrease in Other Current Assets Increase in Other Current Liabilities Net Cash Flow from Operating Activities 135.7 (73.0) (3.3) (3.5) (1.0) 1.0 56.0 127.9 (66.4) (3.3) (12.8) (1.0) 1.0 45.4 131.1 (68.1) (3.3) (13.1) (1.0) 1.0 46.6 134.3 (69.8) (3.3) (13.5) (1.0) 1.0 47.8 137.7 (71.5) (3.4) (13.8) (1.0) 1.0 48.9 141.1 (73.3) (3.6) (14.2) (1.0) 1.0 50.1 144.7 (75.2) (3.6) (14.5) (1.0) 1.0 51.5 148.3 (77.0) (3.6) (14.9) (1.0) 1.0 52.8

Capital Expenditure - Assets Capital Expenditure - Intangibles Decrease in Other Non-Current Assets Increase in Other Non-Current Liabilities Net Cash Flow from Investing Activities (15.0) (2.5) (1.0) 1.0 (17.5) (15.4) (2.6) (1.0) 1.0 (17.9) (15.8) (2.6) (1.0) 1.0 (18.4) (16.2) (2.7) (1.0) 1.0 (18.8) (16.6) (2.8) (1.0) 1.0 (19.3) (17.0) (2.8) (1.0) 1.0 (19.8) (17.4) (2.9) (1.0) 1.0 (20.3) (17.8) (3.0) (1.0) 1.0 (20.8)

Debt Drawdowns Debt Repayments Equity Raisings Equity Repayments Dividends Paid During Period Increase in Other Equity Net Cash Flow from Financing Activities (14.9) 0.1 (14.8) 23.7 (15.3) 0.1 (15.2) 12.2 (15.7) 0.1 (15.6) 12.6 (16.2) 0.4 (15.8) 13.2 50.0 (45.0) (16.5) 0.1 (11.4) 18.2 (16.9) 0.1 (16.8) 13.5 (17.4) 0.1 (17.3) 13.9 (17.8) 0.1 (17.7) 14.2
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Page 52 of 66
Cash Flow Statement - All Periods Outputs

x h O
Total Error Checks Result Notes 1. All values are stated in $Millions unless stated otherwise.
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Page 53 of 66
Dashboard Outputs
Sub-Section 3.4.
Sub-Section Cover Notes: Contains dashboard-style presentation output sheets.
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Page 54 of 66
Business Planning Summary

O
Income Statement [Insert Tile 2 Heading]
Revenue
2012 (A) 131.3 (26.3) 105.1 (42.0) 63.0 (14.8) 48.2 (3.3) 44.9 (13.5) 31.5 2013 (F) 134.6 (26.9) 107.7 (43.1) 64.6 (15.2) 49.4 (3.3) 46.2 (13.8) 32.3 2014 (F) 138.0 (27.6) 110.4 (44.2) 66.2 (15.6) 50.6 (3.4) 47.2 (14.2) 33.1 2015 (F) 141.4 (28.3) 113.1 (45.3) 67.9 (16.0) 51.9 (3.6) 48.3 (14.5) 33.8 160 140 120 100 80 60 40 20 2010 (A) 2011 (A) Revenue (Historical) Revenue (Forecast)
Cost of Goods Sold

Cost of Goods Sold (Historical) Cost of Goods Sold (Forecast)
Year Ending 31 December Revenue Cost of Goods Sold Gross Margin Operating Expenditure EBITDA Depreciation & Amortization EBIT Interest Expense Net Profit Before Tax Tax Expense / (Benefit) Net Profit After Tax
2010 (A) 125.0 (25.0) 100.0 (40.0) 60.0 (14.1) 45.9 (3.3) 42.6 (12.8) 29.8
2011 (A) 128.1 (25.6) 102.5 (41.0) 61.5 (14.5) 47.0 (3.3) 43.8 (13.1) 30.6
2012 (A)
2013 (F)
2014 (F)
2015 (F)
2016 (F)
2017 (F)
35 30 25 20 15 10 5 2010 (A) 2011 (A)
2012 (A)
2013 (F)
2014 (F)
2015 (F)
2016 (F)
2017 (F)
Balance Sheet
Year Ending 31 December Current Assets Non-Current Assets Total Assets Current Liabilities Non-Current Liabilities Total Liabilities Net Assets Ordinary Equity Other Equity Retained Profits Total Equity 2010 (A) 20.8 163.9 184.6 25.8 56.0 81.8 102.8 75.0 5.0 22.8 102.8 2011 (A) 26.7 168.3 195.0 27.3 57.0 84.3 110.7 75.0 5.0 30.7 110.7 2012 (A) 40.4 172.9 213.3 28.9 58.0 86.9 126.4 75.0 5.0 46.4 126.4 2013 (F) 54.9 177.5 232.4 30.5 59.0 89.5 143.0 75.0 5.4 62.6 143.0 2014 (F) 74.4 182.2 256.6 32.0 65.0 97.0 159.6 75.0 5.5 79.1 159.6 2015 (F) 89.1 187.1 276.2 33.6 66.0 99.6 176.6 75.0 5.6 96.0 176.6 50 45 40 35 30 25 20 15 10 5 2010 (A)
Operating Expenditure (Forecast) Operating Expenditure (Historical)
Net Assets - 2010(A) [Insert Tile 4 Heading] 200.0

180.0 160.0 140.0 120.0 100.0 80.0 60.0 40.0 20.0 Assets Liabilities Net Assets 184.6 102.8 81.8
2011 (A)
2012 (A)
2013 (F)
2014 (F)
2015 (F)
2016 (F)
2017 (F)
Cash Flow Statement

Year Ending 31 December Cash Receipts Cash Payments Other Operating Cash Flows Operating Cash Flows Capital Expenditure Other Investing Cash Flows Investing Cash Flows Debt Drawdowns/(Repayments) Equity Drawdowns/(Repayments) Equity Dividends Paid Other Equity Cash Flows Financing Cash Flows Net Increase/(Decrease) in Cash Held 2010 (A) 135.7 (73.0) (6.8) 56.0 (17.5) (17.5) (14.9) 0.1 (14.8) 23.7 2011 (A) 127.9 (66.4) (16.0) 45.4 (17.9) (17.9) (15.3) 0.1 (15.2) 12.2 2012 (A) 131.1 (68.1) (16.4) 46.6 (18.4) (18.4) (15.7) 0.1 (15.6) 12.6 2013 (F) 134.3 (69.8) (16.7) 47.8 (18.8) (18.8) (16.2) 0.4 (15.8) 13.2 2014 (F) 137.7 (71.5) (17.3) 48.9 (19.3) (19.3) 5.0 (16.5) 0.1 (11.4) 18.2 2015 (F) 141.1 (73.3) (17.7) 50.1 (19.8) (19.8) (16.9) 0.1 (16.8) 13.5
EBITDA Breakdown
Revenue (Historical) [Insert Tile 6 Heading] Operating Expenditure (Historical) Cost of Goods Sold (Forecast) EBITDA Cost of Goods Sold (Historical) Revenue (Forecast) Operating Expenditure (Forecast)
200 150 100 50 (50) (100) 2010 (A)
2011 (A)
2012 (A)
2013 (F)
2014 (F)
2015 (F)
2016 (F)
2017 (F)
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Appendices
Section 4.
Section Cover Notes [Insert section cover note 1] [Insert section cover note 2] [Insert section cover note 3]
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Checks
Sub-Section 4.1.
Sub-Section Cover Notes Contains model checks and lookup tables.
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Checks
x h O Error Checks
## Include summary in model name?
Errors Detected - Summary

Total Errors: Error Message (Empty if None): -
Error Checks
Error Checks Accounts Receivable Balances ($Millions) Accounts Payable Balances ($Millions) Assets Balances ($Millions) Intangibles Balances ($Millions) Ordinary Equity - Outputs Income Statement - Forecast Outputs Balance Sheet - Forecast Outputs Cash Flow Statement - Forecast Outputs Total Errors: Check Include? Yes Yes Yes Yes Yes Yes Yes Yes Flag -
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Checks
x h O Sensitivity Checks
Sensitivities Detected - Summary

Total Sensitivities: Sensitivity Message (Empty if None): -
Sensitivity Checks
Sensitivity Checks Total Sensitivities: Check Include? Flag -
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Checks
x h O Alert Checks
Alerts Detected - Summary

Total Alerts: Alert Message (Empty if None): -
Alert Checks
Alert Checks Balance Sheet - Historical Assumptions Balance Sheet - Historical Outputs Ordinary Equity - Outputs Balance Sheet - Forecast Outputs Total Alerts: Check Include? Yes Yes Yes Yes Flag -
Page 60 of 66
Lookup Tables
Sub-Section 4.2.
Sub-Section Cover Notes Contains model lookup tables.
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Time Series Lookup Tables


Month Days
Month Days 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
Names
LU_Mth_Days
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Month Names
Month Names January February March April May June July August September October November December
Names
LU_Mth_Names
Denomination
Denomination $Billions $Millions $'000 $
Names
LU_Denom Billions Millions Thousands Currency
Data Term Basis

Data Term Basis Active Data Periods Projections Start
Names
LU_Data_Term_Basis
Page 63 of 66


Periodicity
Periodicity Annual Semi-Annual Quarterly Monthly
Names
LU_Periodicity Annual Semi_Annual Qtrly Mthly
Period Type Names

Period Type Names Year Half Year Quarter Month
Names
LU_Period_Type_Names Yr_Name Half_Yr_Name Qtr_Name Mth_Name
Periods In Year
Periods In Year 1 2 4 12
Names
LU_Pers_In_Yr Yrs_In_Yr Halves_In_Yr Qtrs_In_Yr Mths_In_Yr
Conversion Factors
Conversion Factors 10 100 1,000 1,000,000 1,000,000,000
Names
Ten Hundred Thousand Million Billion
Page 64 of 66
Capital - Lookup Tables

Capital - Lookup Tables

Dividend Method Lookup
Dividend Method % of NPAT Assume Dividend Amounts
Names:
LU_Eq_Ord_Div_Meth
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Dashboards - Lookup Tables

Dashboard Lookup Tables

Selected Period Lookup
Selected Period 2010 (A) 2011 (A) 2012 (A) 2013 (F) 2014 (F) 2015 (F) 2016 (F) 2017 (F)
Names
LU_Dashboard_Selected_Period
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Important BPM Model Notes

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Important BPM Model Notes

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IMPORTANT NOTE: BPM does not provide any warranties or guarantees relating to the correctness of the formulas or outputs

contained in this model.

Best Practice Modelling

Section & Sheet Titles 1. Overview

2.2. Historical Assumptions

2.3. Forecast Assumptions

Section & Sheet Titles 3. Outputs

3.2. Forecast Outputs

3.3. All Periods Outputs

3.4. Dashboard Outputs

4.2. Lookup Tables

181965865.xlsx.ms_office Overview_SC Printed: 8:08 AM on 10/21/2013

181965865.xlsx.ms_office Notes_SSC Printed: 8:08 AM on 10/21/2013

Simplification Standards Applied Theme Annotations

Telephone: Email: Website:

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x h O Formats & Styles Key

Color Description / Purpose

Hyperlink Description / Purpose

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x h O Sheet Naming Key

Sheet Description / Purpose

Blank Output Time Series Output

Model Schematic Chart Model Import** Model Export**

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x h O Range Naming Key

Range Description / Purpose

181965865.xlsx.ms_office Keys_BO Printed: 8:08 AM on 10/21/2013

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Time Series Assumptions

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Time Series Assumptions

x h O Time Series Assumptions

Historical & Forecast Period Titles

Data & Projections - Timing Assumptions

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Sub-Section Cover Notes: Contains historical financial statement assumptions.

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Income Statement - Historical Assumptions

Net Profit Before Tax

Net Profit After Tax

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Balance Sheet - Historical Assumptions

5.0 10.3 3.0 18.3

5.0 2.5 7.5 10.3 3.0 20.8

7.5 4.6 12.1 10.5 4.0 26.7

12.1 12.5 24.6 10.8 5.0 40.4

24.6 12.8 37.4 11.1 6.0 54.5

37.4 18.1 55.5 11.3 7.0 73.9

55.5 13.4 68.9 11.6 8.0 88.5

68.9 13.8 82.7 11.9 9.0 103.5

82.7 14.1 96.8 12.2 10.0 119.0

Total Assets Current Liabilities

8.0 12.8 5.0 25.8

8.0 12.8 5.0 25.8

8.2 13.1 6.0 27.3

8.4 13.5 7.0 28.9

8.6 13.8 8.0 30.5

8.8 14.2 9.0 32.0

9.1 14.5 10.0 33.6

9.3 14.9 11.0 35.2

9.5 15.3 12.0 36.8

Model Schematic Chart Model Import Model Export