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FOR INTERNAL TRAINING PURPOSES ONLY

TOP REASONS TO INVEST


1 THE AYALA LAND HERITAGE AND VISION
The unparalleled developer in transforming raw land into thriving
business and lifestyle growth centers

2 EVERY DAY BEGINS AT FULL SPEED


Carefully planned product offerings that answer the changing needs of
the market

3 INVESTMENT POTENTIAL
High value appreciation similar to that of other ALI developments

FOR INTERNAL TRAINING PURPOSES ONLY


FOR INTERNAL TRAINING PURPOSES ONLY
THE AYALA LAND HERITAGE
Bonifacio Global City Nuvali
240-hectare development 1,800-hectare development

AYALA LAND is the


PIONEER in developing
masterplanned, mixed-
use communities located
in strategic areas.

FOR INTERNAL TRAINING PURPOSES ONLY


THE AYALA LAND HERITAGE
Makati City
200-hectare development

FOR INTERNAL TRAINING PURPOSES ONLY


THE UNRIVALLED BUSINESS AND
LIFESTYLE CAPITAL OF THE
PHILIPPINES

FOR INTERNAL TRAINING PURPOSES ONLY


McKinley Exchange Ayala Center

Ayala Triangle Gardens City Gate

Circuit Makati Makati Central Business District

FOR INTERNAL TRAINING PURPOSES ONLY


AYALA CENTER
LIFESTYLE COSMPOLITAN HUB

PHASE 2: ONE AYALA


An expansion of retail spaces
AYALA A 600-room hotel
CENTER A 300-unit condo for lease
2 office towers
A transport hub

FOR INTERNAL TRAINING PURPOSES ONLY


LAND AREA: 2.5 HAS
Opening GFA (sqm)

Retail 2019 93,316

OFFICE TOWERS Terminal 2019 8,826

Office 2020 119,818

Hotel 2020 41,663

Condo for
2020 19,369
RETAIL Lease

TOTAL 209,701

TRANSPORT HUB
FOR INTERNAL TRAINING PURPOSES ONLY
AYALA TRIANGLE GARDENS
URBAN OASIS

AYALA
TRIANGLE
GARDENS

FOR INTERNAL TRAINING PURPOSES ONLY


TOWER TWO

MANDARIN HOTEL

RETAIL

CIVIC SPACE

FOR INTERNAL TRAINING PURPOSES ONLY


TOWER TWO

MANDARIN HOTEL
LAND AREA: 1.8 HAS
Opening GFA (sqm)

Retail 2019 14,000

Office 2019 86,100

Hotel 2020 37,800

TOTAL 137,900

RETAIL

CIVIC SPACE

FOR INTERNAL TRAINING PURPOSES ONLY


GROUND FLOOR RETAIL

FOR INTERNAL TRAINING PURPOSES ONLY


FOR INTERNAL TRAINING PURPOSES ONLY
FOR INTERNAL TRAINING PURPOSES ONLY
PEDESTRIANIZATION & ACCESSIBILITY

FOR INTERNAL TRAINING PURPOSES ONLY


SEN. GIL J. PUYAT
TUNNEL
A partnership with the
Department of Public
Works and Highways and
the local government

Starts construction in the


second half of 2016

FOR INTERNAL TRAINING PURPOSES ONLY


FOR INTERNAL TRAINING PURPOSES ONLY
SIDEWALKS AND COVERED WALKWAYS

SALCEDO
VILLAGE

AYALA
TRIANGLE

LEGAZPI
VILLAGE

Target Completion
Phase 2 Valero Covered Walkway (70%) Sept 2016
Valero Sidewalk Enhancement (48%) Sept 2016
Dela Rosa Sidewalk Enhancement (22%) Sept 2016
Phase 3 Covered Walkway Dec 2016
Sidewalk Enhancement Dec 2016
FOR INTERNAL TRAINING PURPOSES ONLY
SIDEWALKS AND COVERED WALKWAYS

DE LA ROSA ST. DE LA ROSA ST.

VALERO ST. VALERO ST.


FOR INTERNAL TRAINING PURPOSES ONLY
24/7 UNDERPASSES

FOR INTERNAL TRAINING PURPOSES ONLY


A SAFE AND
SECURE CITY
Installation of full HD dome 6 UNITS
cameras for 24/7 underpasses

To be completed by 3Q 2016 6 UNITS

No. of 5 UNITS
Units
Legazpi 5 6 UNITS
Makati Ave. 6
Apartment Ridge 6
5 UNITS
Paseo de Roxas 6
6 UNITS
Sedeo 5
Rufino 6
6 UNITS
Salcedo 6
Total 40

UNDERPASSES
ACCESS IMPROVEMENTS
Completed Works:
Additional carriageway passable as of 30
January 2016
MERALCO pole relocation
Civil works
Drainage
Sidewalk cemetery side
Fence repair cemetery side
Landscape

Pending Works:
Installation of traffic signals along JP Rizal
Implementation of City Ordinance for no
street parking along South Ave., A. P.
Reyes, and Zapote (Q3 2016)

FOR INTERNAL TRAINING PURPOSES ONLY


OTHER IMPROVEMENTS

BGC Bus route extension to Circuit Makati by Q4 2016

FOR INTERNAL TRAINING PURPOSES ONLY


CIRCUIT
MAKATI
CIRCUIT MAKATI
ENTERTAINMENT HUB

FOR INTERNAL TRAINING PURPOSES ONLY


2012: Acquired

FOR INTERNAL TRAINING PURPOSES ONLY


2013: Launch

FOR INTERNAL TRAINING PURPOSES ONLY


2016: On-going Development

FOR INTERNAL TRAINING PURPOSES ONLY


INTERIM
THE STILES ENTERPRISE
PLAZA (2020) TRANSPORT
TERMINAL (2014)
CIRCUIT CORPORATE
CENTER (2017)
SOLSTICE
TOWERS (2019)
GLOBE CIRCUIT EVENT
POWER MAC CENTER GROUNDS (2013)
SPOTLIGHT (2015)

CIRCUIT LANE (2015)

MOUNTAIN DEW
SKATE PARK (2014)
SEDA
CIRCUIT MAKATI
(2019)

CIRCUIT PERFORMING
ARTS THEATER (2019)

CIRCUIT CITY KART GATORADE CHELSEA


MALL (2018) RACING (2014) BLUE PITCH (2014)
FOR INTERNAL TRAINING PURPOSES ONLY
HOTEL
S E D A C I R C U I T M A K AT I

Lifestyle-centric hotel experience for


the family
SEDA CIRCUIT
MAKATI 18 physical floors, 1 basement
255 hotel rooms
16,505 sqm GFA
To be completed by Q3 2019

FOR INTERNAL TRAINING PURPOSES ONLY


ENTERTAINMENT
POWER MAC CENTER
SPOTLIGHT

POWER MAC
CENTER
SPOTLIGHT

A black box venue for art exhibits,


music recitals, comedy shows,
Cocktail parties, product launches, and
workshops

Opened in September 2015


Seating capacity of 300 pax

FOR INTERNAL TRAINING PURPOSES ONLY


FOR INTERNAL TRAINING PURPOSES ONLY
FOR INTERNAL TRAINING PURPOSES ONLY
ENTERTAINMENT
CIRCUIT PERFORMING
A R T S T H E AT E R

A world-class performing arts theater


equipped with state-of-the-art lights
and sounds, outstanding acoustics,
and scenery technology

CIRCUIT Seating capacity of 1,500 pax


To be completed by Q4 2019
PERFORMING
ARTS THEATER
FOR INTERNAL TRAINING PURPOSES ONLY
JAIME ZOBEL HALL

<Theater Renderings>

FOR INTERNAL TRAINING PURPOSES ONLY


THEATER AUDITORIUM

FOR INTERNAL TRAINING PURPOSES ONLY


OFFICES FOR LEASE
C I R C U I T C O R P O R AT E
CENTER
CIRCUIT CORPORATE
CENTER

An office development for lease

26 physical floors
47,104 sqm GLA
To be completed by Q1 2017

FOR INTERNAL TRAINING PURPOSES ONLY


OFFICES FOR SALE
THE STILES ENTERPRISE
PLAZA WEST TOWER
THE STILES
ENTERPRISE PLAZA

The first tower of Alveos pioneering


two-tower office development in
Makati City

28 physical floors
283 units, 385 slots
To be completed by Q1 2020

FOR INTERNAL TRAINING PURPOSES ONLY


RESIDENTIAL
SOLSTICE TOWERS

SOLSTICE TOWERS

The first residential development of


Alveo in Circuit Makati, featuring two
towers with a shared podium
Tower 1
41 physical floors
461 units, 397 slots
To be completed by Q1 2019
Tower 2
36 physical floors
FOR INTERNAL TRAINING PURPOSES ONLY 389 units, 318 slots
To be completed by Q3 2019
RETAIL
AYA L A M A L L S C I R C U I T

A regional mall that is seamlessly


connected to Circuit Lane and
strategically located beside the
districts business center

5 physical levels, 1 basement


57,944 sqm GLA
CIRCUIT MALL To be completed by Q3 2018

FOR INTERNAL TRAINING PURPOSES ONLY


FOR INTERNAL TRAINING PURPOSES ONLY
FOR INTERNAL TRAINING PURPOSES ONLY
RETAIL
CIRCUIT LANE

CIRCUIT
LANE

A 253-m sprawling strip of retail


shops, all-day dining,
restos, bars and cafes

Opened in September 2015


10,867sqm GLA
14,943 sqm GFA

FOR INTERNAL TRAINING PURPOSES ONLY


CURRENTLY OPEN MERCHANTS

1. Va Bene 1. Nike 1. Power Mac 1. St. John Paul II


2. Palm Corned Beef 2. Speedo 2. Digital Walker Chapel
3. Wingstop 3. Capital 3. Henrys Camera 2. Miracle Art
4. Social House 4. Vans 3. Playbook
5. Backyard
6. Black Canyon Coffee
7. The Burgery
8. Torch
9. Outre Manila
10. Steveston Pizza 1. Shabu Shabu 6. Playbook
11. Starbucks Ichiban 7. Titan
12. The Coffee Bean and Tea 2. Golds Gym 8. Alveo Office
Leaf 3. Shrimp Bucket 9. Army Navy
13. On Board 4. Shi Lin
14. Seafood Island 5. Mudpie Heaven

FOR INTERNAL TRAINING PURPOSES ONLY


<Circuit Lane Actual Pics>

FOR INTERNAL TRAINING PURPOSES ONLY


INTERIM
M O U N TA I N D E W
S K AT E PA R K

MOUNTAIN
Featuring a 1,000-sqm skate area, the DEW SKATE
Mountain Dew Skate Park is the
PARK
first of its kind in the Philippines

Opened in January 2014

FOR INTERNAL TRAINING PURPOSES ONLY


INTERIM
CITY KART RACING

A 650-meter karting race track that


makes use of a Formula One timing
system

Opened in January 2014

CITY KART
RACING
FOR INTERNAL TRAINING PURPOSES ONLY
INTERIM
G AT O R A D E C H E L S E A
BLUE PITCH

A FIFA regulation-sized blue pitch that


measures 110m x 74m

Opened in January 2014

GATORADE CHELSEA
BLUE PITCH
FOR INTERNAL TRAINING PURPOSES ONLY
INTERIM
GLOBE CIRCUIT
EVENTS GROUNDS

GLOBE CIRCUIT
EVENTS
GROUNDS

A venue for large concerts, festivals


and other outdoor entertainment

Opened in December 2012


2,000-sqm canopy
2 hectares of open grounds
Can accommodate 20,000 people

FOR INTERNAL TRAINING PURPOSES ONLY


FOR INTERNAL TRAINING PURPOSES ONLY
CALLISTO TOWERS

FOR INTERNAL TRAINING PURPOSES ONLY


TOWER 1

FOR INTERNAL TRAINING PURPOSES ONLY


The fourth moon of the planet Jupiter

Comes from the Greek word Kalliste, which means most


beautiful

FOR INTERNAL TRAINING PURPOSES ONLY


FOR INTERNAL TRAINING PURPOSES ONLY
PROJECT DETAILS
Land Area 2,461 sqm
No. of Floors 38 storeys (with roof deck)
No. of Units 430 units (29 residential floors)
No. of 338 slots (8 podium floors)
Parking Slots 79% parking ratio
Retail Lower and Upper Ground Floors
Amenities 9th Floor (shared with Tower 2)
Turnover Starting July 2022

FOR INTERNAL TRAINING PURPOSES ONLY


UNIT DETAILS
Type Size Range Volume, %
Studio 28 32 sqm 162, 38%
1-BR 56 65 sqm 164, 38%
2-BR 85 106 sqm 48, 11%
3-BR 116 214 sqm 56, 13%
Prime Units 122 214 sqm 8, 2%
Investor 116 122 sqm 48, 11%
Total 430, 100%

FOR INTERNAL TRAINING PURPOSES ONLY


BUILDING DISTANCES

SOLSTICE TOWERS

CALLISTO TOWERS

T2 T1

FOR INTERNAL TRAINING PURPOSES ONLY


FOR INTERNAL TRAINING PURPOSES ONLY

LOWER GROUND FLOOR PLAN


SOLSTICE TOWERS

THEATER DRIVE
CIRCUIT LANE

WEST GALA DRIVE

15 residential parking slots


1 PWD slot
2 retail slots
FOR INTERNAL TRAINING PURPOSES ONLY

UPPER GROUND FLOOR PLAN

36 residential parking slots


1 PWD slot
FOR INTERNAL TRAINING PURPOSES ONLY

PODIUM 2 FLOOR PLAN

45 residential parking slots


1 PWD slot
FOR INTERNAL TRAINING PURPOSES ONLY

PODIUM 3 FLOOR PLAN

45 residential parking slots


1 PWD slot
FOR INTERNAL TRAINING PURPOSES ONLY

PODIUM 5 FLOOR PLAN

48 residential parking slots


1 PWD slot
FOR INTERNAL TRAINING PURPOSES ONLY

PODIUM 6 FLOOR PLAN

49 residential parking slots


1 PWD slot
FOR INTERNAL TRAINING PURPOSES ONLY

PODIUM 7 FLOOR PLAN

49 residential parking slots


1 PWD slot
FOR INTERNAL TRAINING PURPOSES ONLY

PODIUM 8 FLOOR PLAN

51 residential parking slots


1 PWD slot
FOR INTERNAL TRAINING PURPOSES ONLY

AMENITY ZONE
9TH FLOOR PLAN

1 7

6
2 8
5

10

3 4

1 Game Room 7 25-meter Lap Pool


11
2 Indoor Gym 8 Kiddie Pool
3 Library 9 Play Area
4 Function Room 10 Lounge
5 Board Room 11 Lawn Area
6 Lounge Pools
AMENITY ZONE
9TH FLOOR PLAN
07

Unit Units/ Total


Size (sqm)
Type Floor Units
05
2-BR 105 106 2 2
3-BR 133 196 4 4
Total 6 6

04

03
01 02

FOR INTERNAL TRAINING PURPOSES ONLY


FOR INTERNAL TRAINING PURPOSES ONLY

GARDEN VILLA
UNIT 907

SQM SQM SQM


Living/Dining Room 47 Bedroom 2 15 Maids T&B 3
Family Room 18 Master T&B 4 Storage 2
Kitchen/Utility 13 Bedroom 1 T&B 3 Foyer 10
Gourmet Kitchen 12 Bedroom 2 T&B 3 AC Ledge 4
Master Bedroom 26 Powder Room 3 Balcony 10
Bedroom 1 15 Maids room 7 Total 196
TYPICAL LOW ZONE 17 16
(WITHOUT BALCONY)
10TH, 12TH, 16TH, 18TH, 20TH, & 22ND FLOOR PLAN
Unit
Size (sqm)
Units/ Total 15
Type Floor Units
Studio 28 6 36 18 12
1-BR 56 59 6 36
2-BR 86 89 4 24
Total 16 96 11

01 19
10
09

02 03 05 06 07 08

FOR INTERNAL TRAINING PURPOSES ONLY


TYPICAL LOW ZONE 17 16
(WITH BALCONY)
11TH, 15TH, 17TH, 19TH, & 21ST FLOOR PLAN
Unit Units/ Total
Size (sqm)
Type Floor Units
Studio 28 6 30 18 12
1-BR 61 65 6 30
2-BR 91 94 4 20
Total 16 80 11

01 19
10
09

02 03 05 06 07 08

FOR INTERNAL TRAINING PURPOSES ONLY


TYPICAL HIGH ZONE 15
(WITH BALCONY) 12
23RD, 26TH, 28TH, 30TH, 32ND, 35TH, 16
37TH, & 39TH FLOOR PLAN

Unit Units/ Total 17


Size (sqm)
Type Floor Units 11
Studio 28 - 32 6 48 18

1-BR 62 64 6 48
3-BR* 121 122 3 24 10
Total 15 120
03 02 01
*Investor Suite 09

08

05 06 07

FOR INTERNAL TRAINING PURPOSES ONLY


TYPICAL HIGH ZONE 15
(WITHOUT BALCONY) 12
25TH, 27TH, 29TH, 31ST, 33RD, 36TH, 16
38TH, & 40TH FLOOR PLAN

Unit Units/ Total 17


Size (sqm)
Type Floor Units 11
Studio 28 - 32 6 48 18

1-BR 57 59 6 48
3-BR* 116 117 3 24 10
Total 15 120
03 02 01
*Investor Suite 09

08

05 06 07

FOR INTERNAL TRAINING PURPOSES ONLY


TYPICAL STUDIO UNIT

SQM
Living/Dining Room 17
Kitchen 7
Utility 4
Total Area 28

FOR INTERNAL TRAINING PURPOSES ONLY


TYPICAL 1BR UNIT

SQM
Living/Dining Room 28
Kitchen 5
Utility 4
Masters Bedroom 16
Masters T&B 4
Balcony 5
AC Ledge 1
Total Area 63

FOR INTERNAL TRAINING PURPOSES ONLY


TYPICAL 2BR UNIT

SQM
Living/Dining Room 32
Kitchen 6
Maids Room 6
Maids T&B 3
Storage 1
Masters Bedroom 17
Masters T&B 5
Bedroom-1 13
Common T&B 3
Balcony 5
AC Ledge 2
Total Area 93
FOR INTERNAL TRAINING PURPOSES ONLY
INVESTOR SUITES

Special 3BR units


Built with a foyer to separate the two (2)
inner units
Located at High Zone floors only
Considered as one (1) unit 1 CCT
Leasing out of one (1) or both inner unit(s)
to third parties is allowed

FOR INTERNAL TRAINING PURPOSES ONLY


INVESTOR SUITES
SQM
2BR 88
Living/Dining Room 33
Kitchen 6
Maids Room 7
Masters Bedroom 16
Masters T&B 5
Bedroom-1 13
Common T&B 3
Balcony 5
Studio 31
Living/Dining/Sleeping Area 17
Kitchen 4
T&B 4
Maids Room 3
Storage 1
AC Ledge 2
Foyer 3
Total Area 122
FOR INTERNAL TRAINING PURPOSES ONLY
PENTHOUSE
41ST FLOOR PLAN
08

Unit Units/ Total


Size (sqm)
Type Floor Units
07
1-BR 61 65 2 2 09
2-BR 90 91 2 2
3-BR 122 125 4 4
Total 8 8
06
01

02 05
03

FOR INTERNAL TRAINING PURPOSES ONLY


PENTHOUSE
UNIT 4102
SQM
Living/Dining Room 41
Family Room 16
Kitchen/Utility 12
Gourmet Kitchen 12
Master Bedroom 37
Bedroom 1 16
Bedroom 2 16
Master T&B 8
Bedroom 1 T&B 3
Bedroom 2 T&B 3
Powder Room 4
Maids room 6
Maids T&B 2
Storage 4
Foyer 14
Balcony 21
Total 215

FOR INTERNAL TRAINING PURPOSES ONLY


FOR INTERNAL TRAINING PURPOSES ONLY

PENTHOUSE
UNIT 4108

SQM SQM SQM


Living/Dining Room 47 Bedroom 2 16 Maids T&B 3
Family Room 18 Master T&B 7 Storage 2
Kitchen/Utility 12 Bedroom 1 T&B 3 Foyer 12
Gourmet Kitchen 12 Bedroom 2 T&B 4 AC Ledge 6
Master Bedroom 32 Powder Room 3 Balcony 10
Bedroom 1 15 Maids room 7 Total 209
FLOOR-TO-CEILING HEIGHTS

Living/Dining/ T&Bs/Powder
Building Zone
Bedrooms/Kitchen Room/Maids Room

Amenity Zone 2.70m 2.40m


Low Zone 2.70m 2.40m
High Zone 2.70m 2.40m
Penthouse 3.00m 2.70m

FOR INTERNAL TRAINING PURPOSES ONLY


STANDARD UNIT DELIVERABLES
Kitchen Cabinets
Countertop
Kitchen sink
Floor finish
Painted walls
Provision for kitchen exhaust (as applicable) some units will
have natural ventilation for the kitchen
T&B Bathroom sink
Toilet bowl
Shower set
Shower Enclosure (For master T&B only of 2BR and 3BR units)
Facial Mirror
Bedroom Closet
Metering Secondary metering for electricity and water

FOR INTERNAL TRAINING PURPOSES ONLY


STANDARD UNIT FINISHES
Living, Dining (All Units) 600x600 porcelain tiles
Kitchen
Flooring Studio Wood laminated flooring
1BR, 2BR, 3BR 600x600 homogeneous tiles
Counter top Granite
Closet HPL Laminate
Bedrooms (Including Studio Sleeping Area) Wood laminated flooring
Toilet and Bath
Bathroom Counter Granite (1BR, and Masters T&B of 2BR and 3BR units)
Flooring 300x600 porcelain tiles
Wall Shower Area 300x600 porcelain tiles, full height
Dry Area 300x600 porcelain tiles, full height
Laundry Cubicle/Utility Room 300x300 Ceramic tiles
Balcony 300x300 Ceramic tiles
Wall Concrete painted finish
Ceiling Concrete painted finish
FOR INTERNAL TRAINING PURPOSES ONLY
FOR INTERNAL TRAINING PURPOSES ONLY
FOR INTERNAL TRAINING PURPOSES ONLY

ALVEO IN CIRCUIT MAKATI


200
190
180
?
170
160
P/SQM

150 148 150


147
140
130 122.5 125 127 In 3 years
120 120 120 121 123
115 117 117 T1: 10.2% increase
110 2.6% 2.1% 5.8%
1.7% T2: 4.7% increase
100

Solstice 1 Solstice 2 Stiles WT

Stiles ET Circuit Solstice T2


Circuit Makati Solstice T2 Circuit Lane (2016) Theatre Turnover
(Jan. 2013) (Dec. 2013) Sept. 2015
(2019)
Stiles WT
Solstice T1 Circuit Interim Stiles WT Circuit Corp. Center Turnover
Seda
(Mar. 2013) (Jan. 2014) (Feb. 2015) (2017) (2019)

Circuit Mall Solstice T1


(2018) Turnover
FOR INTERNAL TRAINING PURPOSES ONLY

COMPETITION SCAN
Solstice Towers Acqua Iguazu
P127k/sqm P185k/sqm

The Lerato Shang Salcedo


P140k/sqm Place
P134k/sqm

The Gentry Three Central


P180k/sqm P131k/sqm

San Antonio Signa Residences


Residences P133k/sqm
P140k/sqm

Greenbelt
Hamilton 2
P158k/sqm
INDICATIVE UNIT PRICING
Type Size Range
Studio 29 sqm
1-BR 60 sqm
2-BR 91 sqm
3-BR 125 sqm
Prime Units 159 sqm
Investor 119 sqm

P140k w/ VAT
Average Price per SQM

FOR INTERNAL TRAINING PURPOSES ONLY


PAYMENT TERMS

STANDARD TERMS DP MA BALANCE DISCOUNT


Cash in 60 days 95% - 5% in 12 mos. 8%
20% DP / 80% Bank in 30-60 Days 20% - 80% 8%
50% DP / 50% over 72 mos. 50% 50% - 2%
30% DP / 70% over 72 mos. 30% 70% - 1%
20% DP / 80% over 72 mos. 20% 80% - -

PROMO TERMS DP MA BALANCE DISCOUNT


Cash in 90 days 95% - 5% in 12 mos. 6%
10% DP / 90% over 72 mos. 10% 90% - -
10% DP / 50% over 72 mos. / Bal* 10% 50% 40% -
*Applicable only to Investor Suites

FOR INTERNAL TRAINING PURPOSES ONLY


TOP REASONS TO INVEST
1 THE AYALA LAND HERITAGE AND VISION
The unparalleled developer in transforming raw land into thriving
business and lifestyle growth centers

2 EVERY DAY BEGINS AT FULL SPEED


Carefully planned product offerings that answer the changing needs of
the market

3 INVESTMENT POTENTIAL
High value appreciation similar to that of other ALI developments

FOR INTERNAL TRAINING PURPOSES ONLY


FOR INTERNAL TRAINING PURPOSES ONLY

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