Disclaimer Long Range Plan ne… · Disclaimer PricewaterhouseCoopers (PwC) has developed this...

Disclaimer

PricewaterhouseCoopers (PwC) has developed this model for our client, TV1, to assist our client in considering a Long Range plan.

TV1 is responsible for all inputs in the model (including the sources and quality of information) and for all calculations in, outputs generated by and assumptions underlying the model (together, the specification). PwC developed the model according to the client’s specification. PwC has not verified the model inputs and is not responsible for any assumptions or methodologies in the model, or any outputs it generates (including any projections or valuations). PwC has not separately tested the model.

The model is confidential and our client may only share it with its professional advisers in connection with the Long Range plan on the basis that those professional advisers use the model at their own risk and have no recourse to PwC in connection with it. Although we may interact with those professional advisers in developing the model, we do so in their capacity as our client’s agent. In agreeing to interact with and provide the model to those professional advisers, we do not assume any responsibility or liability to them. To the extent permitted by law, PwC disclaims any responsibility or liability for any consequence of any use of or reliance on the model by anyone other than our client and for any use by our client other than for the purpose above.

Liability limited by a scheme approved under Professional Standards Legislation.

TV1 Proposed Offer - Five years performance (2014 to 2018)

Revenue report #DIV/0! #DIV/0! #DIV/0!$'000s

#DIV/0! #DIV/0! #DIV/0!

#DIV/0! Err:502#DIV/0!

Years ending 31 Dec - $'000s

Subscriber numbers Monthly residential subscriber fee Line item 2012 2013 2014 2015 2016 2017 2018

TV1 - per subscriber Subscriber revenue - TV1 $ monthly fee: Residential - - - - - - -

Commercial - - - - - - -

Xbox - - - - - - - 0 ### ±$0.00 Tbox - - - - - - -

30c 34c 38c 42c 46c 50c 54c 58c 62c 66c 70c Mobile - - - - - - -

A La Carte - - - - - - -

First 3 months - - - - - - -

Sci Fi - per subscriber Total TV1 - - - - - - - $ monthly fee: Growth #DIV/0! #DIV/0!

Subscriber revenue - Sci Fi0.3 ### $0.30 Residential - - - - - - -

15c 19c 23c 27c 31c 35c 39c 43c 47c 51c 55c Commercial - - - - - - -

Xbox - - - - - - -

Tbox - - - - - - -

▲ Subscribers Mobile - - - - - - -

Advertising revenue - $'000s Ad rev growth % A La Carte - - - - - - - First 3 months - - - - - - -

Sci Fi - - - - - - -

2013 ### 100 -0.0% Growth #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

-10% -8% -6% -4% -2% 0% 2% 4% 6% 8% 10%

Total subs revenue - #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

2014 ### 130 +3.0% Growth #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

-10% -8% -6% -4% -2% 0% 2% 4% 6% 8% 10% % of total revenue #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

2015 ### 130 +3.0% Gross advertising revenue-10% -8% -6% -4% -2% 0% 2% 4% 6% 8% 10% TV1 - - - - - - -

Sci Fi - - - - - - -

2016 ### 130 +3.0%-10% -8% -6% -4% -2% 0% 2% 4% 6% 8% 10% Total ads revenue - - - - - - -

Growth #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

2017 ### 130 +3.0% % of total revenue #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

-10% -8% -6% -4% -2% 0% 2% 4% 6% 8% 10%

Total revenue - #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

2018 ### 130 +3.0% Growth #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

Net revenue$m

EBITD$m

EBITDmargin %

EBITD + Licensing$m

Net profit$m

Net profitmargin %

2012 2013 2014 2015 2016 2017 2018$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

$0.70

$0.80

$0.90

$1.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

-

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

Lock

Lock

TV1 Five years performance (2014 to 2018)

Licence fees report #DIV/0! #DIV/0! #DIV/0!

$'000s#DIV/0! #DIV/0! #DIV/0!


Years ending 30 Jun - $'000s

TV1 - hours of content per day Buy hours Licence fee $/hr Line item 2012 2013 2014 2015 2016 2017 2018

Hours per day Content amortisation

TV1 - - - - - - -

Sci Fi - - - - - - -

2013 ###### 700 2013 ### ### 11.1K0.5 0.6 0.7 0.8 0.9 1.0 1.1 1.2 1.3 1.4 1.5 5.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0 13.0 14.0 15.0 - - - - - - -


2014 ###### 700 2014 ### ### 11.0K Buy value by channel ($)

0.5 0.6 0.7 0.8 0.9 1.0 1.1 1.2 1.3 1.4 1.5 5.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0 13.0 14.0 15.0

2015 ###### 700 2015 ### ### 11.0K

0.5 0.6 0.7 0.8 0.9 1.0 1.1 1.2 1.3 1.4 1.5 5.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0 13.0 14.0 15.0

2016 ###### 700 2016 ### ### 11.0K

0.5 0.6 0.7 0.8 0.9 1.0 1.1 1.2 1.3 1.4 1.5 5.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0 13.0 14.0 15.0

2017 ###### 700 2017 ### ### 11.0K

0.5 0.6 0.7 0.8 0.9 1.0 1.1 1.2 1.3 1.4 1.5 5.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0 13.0 14.0 15.0

###### 700 2018 ### ### 11.0K

0.5 0.6 0.7 0.8 0.9 1.0 1.1 1.2 1.3 1.4 1.5 5.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0 13.0 14.0 15.0

Sci Fi - hours of content per day Buy hours per year Licence fee $/hr Estimated 2013/14 buy value % by studio

Hours per day TV1 Sci Fi

2013 ###### 600 2013 ### ### 5.5K CBS 30% 25% 28.2%0.5 0.6 0.7 0.8 0.9 1.0 1.1 1.2 1.3 1.4 1.5 5.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0 13.0 14.0 15.0

2014 ###### 600 2014 ### ### 5.5K CSI 27% 0% 17.4%0.5 0.6 0.7 0.8 0.9 1.0 1.1 1.2 1.3 1.4 1.5 5.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0 13.0 14.0 15.0

2015 ###### 600 2015 ### ### 5.5K Sony 13% 15% 13.8%0.5 0.6 0.7 0.8 0.9 1.0 1.1 1.2 1.3 1.4 1.5 5.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0 13.0 14.0 15.0

2016 ###### 600 2016 ### ### 5.5K NBC 28% 37% 31.2%0.5 0.6 0.7 0.8 0.9 1.0 1.1 1.2 1.3 1.4 1.5 5.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0 13.0 14.0 15.0

2017 ###### 600 2017 ### ### 5.5K Non-studio 2% 23% 9.5%0.5 0.6 0.7 0.8 0.9 1.0 1.1 1.2 1.3 1.4 1.5 5.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0 13.0 14.0 15.0

###### 600 2018 ### ### 5.5K Total 100% 100% 100%0.5 0.6 0.7 0.8 0.9 1.0 1.1 1.2 1.3 1.4 1.5 5.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0 13.0 14.0 15.0

Buy value by studio:

Net revenue$m

EBITD$m

EBITDmargin %

EBITD + Licensing$m

Net profit$m

Net profitmargin %

$'000s ▲

Weighted average

Dec11

Jun12

Dec12

Jun13

Dec13

Jun14

Dec14

Jun15

Dec15

Jun16

Dec16

Jun17

Dec17

Jun18

Dec18

-

3.0

6.0

9.0

12.0

15.0

18.0

21.0

24.0

Dec11

Jun12

Dec12

Jun13

Dec13

Jun14

Dec14

Jun15

Dec15

Jun16

Dec16

Jun17

Dec17

Jun18

Dec18

-

3.0

6.0

9.0

12.0

15.0

18.0

21.0

24.0

Dec 12 Dec 13 Dec 14 Dec 15 Dec 16 Dec 17 Dec 18$0.00

$2.00

$4.00

$6.00

$8.00

$10.00

$12.00 SF content buy

487774350% 238077850% 538483100% 163600000%300000000%

Locked

Locked

Locked

Locked


Costs report #DIV/0! #DIV/0! #DIV/0!

$'000s#DIV/0! #DIV/0! #DIV/0!



Advertising costs Line item 2012 2013 2014 2015 2016 2017 2018

TV1

Shared Cost Contribution - - - - - - -

Advertising Agency Fee - - - - - - -

Foxtel advertising revenue recharge - - - - - - -

Other Ad Costs - - - - - - -

Foxtel advertising proceeds subsidisation - - - - - - -

Total TV1 - - - - - - -


Sci Fi

Shared Cost Contribution - - - - - - -

Advertising Agency Fee - - - - - - -

Foxtel advertising revenue recharge - - - - - - -

Other Ad Costs - - - - - - -

Foxtel advertising proceeds subsidisation - - - - - - -

Total Sci Fi - - - - - - -

Operating expenses Growth #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

Total advertising costs - #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!


Operating expenditure

Controllable expenses - - - - - - -

Non-controllable expenses - - - - - - -

Total operating expenses - - - - - - -


Net revenue$m

EBITD$m

EBITDmargin %

EBITD + Licensing$m

Net profit$m

Net profitmargin %

2012 2013 2014 2015 2016 2017 2018 -

0

0

0

0

0

0

0

0

0

0

- - - - - - - - - - - - - -

2012 2013 2014 2015 2016 2017 2018 -

0

0

0

0

0

0

0

0

0

0

- - - - - - - - - - - - - - - - - - - - - - - - - - - -

Shared cost contribution

Advertising agency fee

Foxtel ad revenue

Other ad costs

Foxtel advertising proceeds

Non-controllable expenses

Controllable expenses


Profit & loss statement #DIV/0! #DIV/0! #DIV/0!

For the years ending 31 Dec#DIV/0! #DIV/0! #DIV/0!

$'000s



2011 2012 2013 2014 2015 2016 2017 2018

Subscriber revenue

TV1

Residential - - - - - - -

Commercial Subs TV1_Commercial - - - - - - -

Xbox Subs TV1_Xbox - - - - - - -

Tbox Subs TV1_Tbox - - - - - - -

Mobile Subs TV1_Foxtel - Mobile - - - - - - -

A La Carte Subs TV1_Foxtel - A La Carte - - - - - - -

First 3 months Subs TV1_First 3 months - - - - - - -

Total TV1 subscriber revenue - - - - - - -

Sci Fi

Residential - - - - - - -

Commercial Subs SciFi_Commercial - - - - - - -

Xbox Subs SciFi_Xbox - - - - - - -

Tbox Subs SciFi_Tbox - - - - - - -

Mobile Subs SciFi_Foxtel - Mobile - - - - - - -

A La Carte Subs SciFi_Foxtel - A La Carte - - - - - - -

First 3 months Subs SciFi_First 3 months - - - - - - -

Total Sci Fi subscriber revenue - - - - - - -

Total subscriber revenue - - - - - - -


Gross advertising revenue

TV1 Ads_TV1 - Gross Advertising Revenue - - - - - - -

Sci Fi Ads_SF - Gross Advertising Revenue - - - - - - -

Total gross advertising revenue - - - - - - -


Total revenue - #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!


Advertising costs

TV1

Shared Cost Contribution Ads_TV1 - Shared Cost Contribution - - - - - - -

Advertising Agency Fee Ads_TV1 - Advertising Agency Fee - - - - - - -

Foxtel advertising revenue recharge Ads_TV1 - Foxtel advertising revenue recharge - - - - - - -

Other Ad Costs Ads_TV1 - Other Ad Costs - - - - - - -

Foxtel advertising proceeds subsidisation Ads_TV1 - Foxtel advertising proceeds subsidisation - - - - - - -

Total TV1 - - - - - - -

Sci Fi

Shared Cost Contribution Ads_SF - Shared Cost Contribution - - - - - - -

Advertising Agency Fee Ads_SF - Advertising Agency Fee - - - - - - -

Foxtel advertising revenue recharge Ads_SF - Foxtel advertising revenue recharge - - - - - - -

Other Ad Costs Ads_SF - Other Ad Costs - - - - - - -

Foxtel advertising proceeds subsidisation Ads_SF - Foxtel advertising proceeds subsidisation - - - - - - -

Total Sci Fi - - - - - - -

Total advertising costs - - - - - - -


Net revenue - #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!


Licensing fees

TV1 - content amortisation Content_Amortisation - TV1 - - - - - - -

Sci Fi - content amortisation Content_Amortisation - SF - - - - - - -

Total licensing fees - - - - - - -


Net revenue$m

EBITD$m

EBITDmargin %

EBITD + Licensing$m

Net profit$m

Net profitmargin %


2011 2012 2013 2014 2015 2016 2017 2018

Operating expenditure

Controllable expenses OPEX_Controllable operating expenses - - - - - - -

Non-controllable expenses OPEX_Non-controllable operating expenses - - - - - - -

Total operating expenses - - - - - - -


Local content Content_Local content purchasing - - - - - - -


Total costs - #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!


EBITD - #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!


EBITD % #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

Less:

Depreciation expense OPEX_Depreciation expense - - - - - - -

Other income/expenses OPEX_Other income/expenditure - - - - - - -

Net profit/(loss) #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!


Net profit % #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

Net present value calculations

All net profit from 1 Jan 2013 to 31 Dec 2018 back to 1 Jan 2013 (6 years) Err:504

TV1Profit & loss statement - by channel

For the years ending 30 Jun$'000s

Years ending 30 Jun - $'000s

2012 2013 2014 2015 2016 2017 2018

TV1

Subscriber revenue - - - - - - -

Gross advertising revenue - - - - - - -

Advertising costs - - - - - - -

Net advertising revenue - - - - - - -

Net revenue - - - - - - -


Content amortisation - - - - - - -

Local content - - - - - - -

Allocated operating costs - - - - - - -

Total costs - - - - - - -




Allocated dep'n and other costs - - - - - - -

TV1 - Allocation of net profit / (loss) - #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!


Allocated net profit margin % #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

Sci Fi

Subscriber revenue - - - - - - -

Gross advertising revenue - - - - - - -

Advertising costs - - - - - - -

Net advertising revenue - - - - - - -

Net revenue #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!


Content amortisation - - - - - - -

Allocated operating costs - - - - - - -

Total costs - - - - - - -




Allocated dep'n and other costs - - - - - - -

Sci Fi - Allocation of net profit / (loss) - #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!



Total net profit / (loss) #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!



General inputs

Units Year 1

General Assumptions

Model Start date Start 01 Jul 11

Forecast date Fstart 01 Jul 13

Constants

Period in Year PiY 2

Months in Period MiP 6

Discount rate Rate_Discount 12%

Subcription inputsCalendar year assumptions:

Subscription Growth rate Year 1

TV1 Subs_GrwRateTV1 +1.0%

Sci Fi Subs_GrwRateSF +1.0%

3 Months Free 0.0%

Tiered pricing structure: upper boundaries

TV1 Year 1

Residential tiers

Base Tiers_TV1 2,200,000

Tier 1 2,250,000

Tier 2 2,250,000

Tier 3

Sci Fi

Base Tiers_SF 1,500,000

Tier 1 1,550,000

Tier 2 1,550,000

Tier 3

Per subscriber monthly rate - from Foxtel ($)

Per subscriber monthly rate $

TV1 Subs_TV1 Year 1

Residential

Base 0.65

Tier 1 0.60

Tier 2 0.49

Tier 3 0.49

Commercial - 0.65

Xbox - 0.65

Tbox 0.60

Foxtel - Mobile 0.20

Foxtel - A La Carte - -

Sci Fi Subs_SF

Residential

Base 0.30

Defined range name

Tier 1 0.28

Tier 2 0.23

Tier 3 1.00 0.23

Commercial - 0.30

Xbox - 0.30

Tbox - 0.30

Foxtel - Mobile 0.15

Foxtel - A La Carte - 2.58

Advertising inputsYear 1

Ad Growth rate GrwRate_Ad -0.0%

TV1 shared cost contribution (SF = 100% - this) ShareCC_TV1 90%

Ad Agency fee AdFee 10%

Foxtel Ad revenue recharge - TV1 AdRecharge_TV1 0%

Foxtel Ad revenue recharge - SF AdRecharge_SF 0%

Rates Cost of Ads

TV1 +5.0%

SF +5.0%

Monthly salary estimate to reduce gross advertising revenue for Foxtel kickback

TV1 per month 150,000

Scifi per month 30,000

Content inputsBought hours Year 1

TV1 700

Less: Hours allocated to CSI CSIHours_TV1 (150)

Hours remaining for allocation BuyHours_TV1 550

Sci Fi BuyHours_SF 600

Rate card

TV1 3% RateCard_TV1 10,000

Sci Fi RateCard_SF 5,500

License fee relativities RateRelativityPremium 1.25

License fee amounts - TV1

Non Studio - TV1 7,000

Exclusive - TV1 25,000

License fee amounts - TV1

Non Studio - SF 8,300

Exclusive - SF 30,000

Year on Year Growth for Contribution GrwRate_YOY ±0.0%

Share of hours - TV1 ContentHrs_TV1Studio 100.0%

Premium 0.0%

Non Studio 0.0%

Exclusive 0.0%

Share of hours - Sci Fi ContentHrs_SF

Studio 62.0%

Premium 0.0%

Non Studio 28.0%

Exclusive 10.0%

Additional purchase of local content on top of standard content 10.0%

Operating expenses

Inflation - for all operating expenses Inflation +3.0%

Controllable cost saving % Rate_Con ±0.0%

Indexation factor for depreciation Rate_Depr ±0.0%

END

Year 2 Year 3 Year 4 Year 5 Year 6

Calendar year assumptions:


+2.0% +2.0% +2.0% +2.0% +2.0%

+2.0% +2.0% +2.0% +2.0% +2.0%

0.0% 0.0% 0.0% 0.0% 0.0%

Tiered pricing structure: upper boundaries


2,200,000 2,200,000 2,200,000 2,200,000 2,200,000

2,250,000 2,250,000 2,250,000 2,250,000 2,250,000

2,250,000 2,250,000 2,250,000 2,250,000 2,250,000

1,500,000 1,500,000 1,500,000 1,500,000 1,500,000

1,550,000 1,550,000 1,550,000 1,550,000 1,550,000

1,550,000 1,550,000 1,550,000 1,550,000 1,550,000

Per subscriber monthly rate $


- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

0.30 0.30 0.30 0.30 0.30

0.30 0.30 0.30 0.30 0.30

0.30 0.30 0.30 0.30 0.30

0.30 0.30 0.30 0.30 0.30

0.30 0.30 0.30 0.30 0.30

0.30 0.30 0.30 0.30 0.30

0.30 0.30 0.30 0.30 0.30

0.15 0.15 0.15 0.15 0.15

2.58 2.58 2.58 2.58 2.58


+3.0% +3.0% +3.0% +3.0% +3.0%

90% 90% 90% 90% 90%

10% 10% 10% 10% 10%

0% 0% 0% 0% 0%

0% 0% 0% 0% 0%

Ad Subsidies

+5.0%

+5.0%


700 700 700 700 700

(150) (150) (150) (150) (150)

550 550 550 550 550

600 600 600 600 600

11,000 11,330 11,670 12,020 12,381

5,500 5,665 5,835 6,010 6,190

1.25 1.25 1.25 1.25 1.25

8,300 8,549 8,805 9,070 9,342

25,000 25,750 26,523 27,318 28,138

8,300 8,549 8,805 9,070 9,342

30,000 30,900 31,827 32,782 33,765

±0.0% ±0.0% ±0.0% ±0.0% ±0.0%

100.0% 100.0% 100.0% 100.0% 100.0%

0.0% 0.0% 0.0% 0.0% 0.0%

0.0% 0.0% 0.0% 0.0% 0.0%

0.0% 0.0% 0.0% 0.0% 0.0%

62.0% 62.0% 62.0% 62.0% 62.0%

0.0% 0.0% 0.0% 0.0% 0.0%

28.0% 28.0% 28.0% 28.0% 28.0%

10.0% 10.0% 10.0% 10.0% 10.0%

+3.0% +3.0% +3.0% +3.0% +3.0%

±0.0% ±0.0% ±0.0% ±0.0% ±0.0%

±0.0% ±0.0% ±0.0% ±0.0% ±0.0%

Check Flag Note TV1 100%

Period star date 01 Jul 11Period end date 31 Dec 11First forecast period 0Forecast periods 0Forecast period counter 0Forecast year counter 0Calendar year 2011Year Counter 1Counter for Check 1

l

Subscription calculations - TV1Actual results

Foxtel subcriber numbersResidential 2,183,373

Commercial 41,595

Xbox 9,840

Tbox 6,321

Foxtel - Mobile 75,000

Foxtel - A La Carte -

Foxtel Revenue ($)Residential 8,477,479

Commercial 130,212

Xbox 18,050

Tbox 10,402



Foxtel - Live to Air 1,275

3 Month Free (252,655)

Calculation of subcriber numbers

Subscription Growth rate ±0.0%

Balance of subscibers (at each period end)Residential 2,183,373

Commercial 41,595

Xbox 9,840

Tbox 6,321



O Subscribers Total 2,316,130

Monthly fee per subscriberResidential

1 Base #NAME?

1 Tier 1 #NAME?

1 Tier 2 #NAME?

1 Tier 3 #NAME?11 Commercial #NAME?

1 Xbox #NAME?

1 Tbox #NAME?

1 Foxtel - Mobile #NAME?

1 Foxtel - A La Carte #NAME?

Residential subscribers - across tiersBase 2,183,373

Tier 1 -

Tier 2 -

Tier 3 -

Other subscribersCommercial 41,595

Xbox 9,840

Tbox 6,321



Total subscribers 2,316,130

First 3 months free % 0.0%

Subsciber revenueResidential

F Base Base 8,477,479

F Tier 1 Tier 1 -

F Tier 2 Tier 2 -

F Tier 3 Tier 3 - Total residential 8,477,479

F Commercial Commercial 130,212

F Xbox Xbox 18,050

F Tbox Tbox 10,402

F Foxtel - Mobile Foxtel - Mobile 54,907

F Foxtel - A La Carte Foxtel - A La Carte -

F First 3 months First 3 months (252,655)

Total subscriber revenue 8,438,395

END

01 Jan 12 01 Jul 12 01 Jan 13 01 Jul 13 01 Jan 14 01 Jul 14 01 Jan 1530 Jun 12 31 Dec 12 30 Jun 13 31 Dec 13 30 Jun 14 31 Dec 14 30 Jun 15

0 0 0 1 0 0 00 0 0 1 1 1 10 0 0 1 2 3 40 0 0 1 1 2 2

2012 2012 2013 2013 2014 2014 20152 2 3 3 4 4 51 2 2 3 3 4 4

2,183,373 2,183,373 2,232,385

41,595 41,595 56,665

9,840 9,840

6,321 6,321

75,000 75,000 82,360

- - -

8,498,247 8,567,801 8,635,579

204,967 214,892 218,965

18,576 21,730 25,837

34,219 58,551 72,637

45,937 86,398 100,578

- - -

1,167 1,173 1,173

(235,280) (141,636) (247,050)

±0.0% ±0.0% ±0.0% +0.5% +0.5% +1.0% +1.0%

2,183,373 2,183,373 2,232,385 2,243,547 2,254,765 2,277,312 2,300,085

41,595 41,595 56,665 56,948 57,233 57,805 58,383

9,840 9,840 - - - - -

6,321 6,321 - - - - -

75,000 75,000 82,360 82,772 83,186 84,018 84,858

- - - - - - -

2,316,130 2,316,130 2,371,410 2,383,267 2,395,183 2,419,135 2,443,327

#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?









2,183,373 2,183,373 2,232,385 2,200,000 2,200,000 2,200,000 2,200,000

- - - 43,547 50,000 50,000 50,000

- - - - - - -

- - - - 4,765 27,312 50,085

41,595 41,595 56,665 56,948 57,233 57,805 58,383

9,840 9,840 - - - - -

6,321 6,321 - - - - -

75,000 75,000 82,360 82,772 83,186 84,018 84,858

- - - - - - -

2,316,130 2,316,130 2,371,410 2,383,267 2,395,183 2,419,135 2,443,327

0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

8,498,247 8,567,801 8,635,579 #NAME? #NAME? #NAME? #NAME?

- - - #NAME? #NAME? #NAME? #NAME?




204,967 214,892 218,965 #NAME? #NAME? #NAME? #NAME?





(235,280) (141,636) (247,050) #NAME? #NAME? #NAME? #NAME?


01 Jul 15 01 Jan 16 01 Jul 16 01 Jan 17 01 Jul 17 01 Jan 18 01 Jul 1831 Dec 15 30 Jun 16 31 Dec 16 30 Jun 17 31 Dec 17 30 Jun 18 31 Dec 18

0 0 0 0 0 0 01 1 1 1 1 1 15 6 7 8 9 10 113 3 4 4 5 5 6

2015 2016 2016 2017 2017 2018 20185 6 6 7 7 8 85 5 6 6 7 7 8

+1.0% +1.0% +1.0% +1.0% +1.0% +1.0% +1.0%

2,323,086 2,346,317 2,369,780 2,393,478 2,417,413 2,441,587 2,466,003

58,967 59,557 60,153 60,754 61,362 61,975 62,595

- - - - - - -

- - - - - - -

85,706 86,563 87,429 88,303 89,186 90,078 90,979

- - - - - - -

2,467,760 2,492,437 2,517,362 2,542,535 2,567,961 2,593,640 2,619,577










2,200,000 2,200,000 2,200,000 2,200,000 2,200,000 2,200,000 2,200,000

50,000 50,000 50,000 50,000 50,000 50,000 50,000

- - - - - - -

73,086 96,317 119,780 143,478 167,413 191,587 216,003

58,967 59,557 60,153 60,754 61,362 61,975 62,595

- - - - - - -

- - - - - - -

85,706 86,563 87,429 88,303 89,186 90,078 90,979

- - - - - - -

2,467,760 2,492,437 2,517,362 2,542,535 2,567,961 2,593,640 2,619,577

0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%





#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?###








Check Flag Note SF 200%

Period star date 01 Jul 11Period end date 31 Dec 11First forecast period 0Forecast periods 0Forecast period counter 0Forecast year counter 0Calendar year 2011Year Counter 1Counter for Check 1

l

Subscription calculations - SFActual results

Foxtel subcriber numbersResidential 1,487,895

Commercial 785

Xbox 3,429

Tbox 1,796


Foxtel - A La Carte 6,845

Foxtel Revenue ($)Residential 2,612,573

Commercial 1,966

Xbox 3,599

Tbox 1,159



Foxtel - Live to Air -

3 Month Free (56,690)

Calculation of subcriber numbers

Subscription Growth rate ±0.0%

Balance of subscibers (at each period end)Residential 1,487,895

Commercial 785

Xbox 3,429

Tbox 1,796



O Subscribers Total 1,575,750

Monthly fee per subscriberResidential

1 Base #NAME?

1 Tier 1 #NAME?

1 Tier 2 #NAME?

1 Tier 3 #NAME?

1 Commercial #NAME?

1 Xbox #NAME?

1 Tbox #NAME?

1 Foxtel - Mobile #NAME?

1 Foxtel - A La Carte #NAME?

Residential subscribers - across tiersBase 1,487,895

Tier 1 -

Tier 2 -

Tier 3 -

Other subscribersCommercial 785

Xbox 3,429

Tbox 1,796



Total subscribers 1,575,750

First 3 months free % 0.0%

Subsciber revenueResidential

F Base Base 2,612,573

F Tier 1 Tier 1 -

F Tier 2 Tier 2 -

F Tier 3 Tier 3 - Total residential 2,612,573

F Commercial Commercial 1,966

F Xbox Xbox 3,599

F Tbox Tbox 1,159

F Foxtel - Mobile Foxtel - Mobile 82,349

F Foxtel - A La Carte Foxtel - A La Carte 107,352

F First 3 months First 3 months (56,690)

Total subscriber revenue 2,752,308

END


0 0 0 1 0 0 00 0 0 1 1 1 10 0 0 1 2 3 40 0 0 1 1 2 2

2012 2012 2013 2013 2014 2014 20152 2 3 3 4 4 51 2 2 3 3 4 4

1,487,895 1,487,895 1,556,530 1,556,530

785 785 4,209 4,209

3,429 3,429

1,796 1,796

75,000 75,000 75,000

6,845 6,845 6,838 6,805

2,587,292 2,586,685 2,650,070

2,047 6,664 8,392

3,476 3,782 5,429

3,899 6,416 9,482

68,895 57,949 67,466

104,089 103,929 104,519

- - -

(58,379) (23,568) (17,936)

±0.0% ±0.0% ±0.0% +0.5% +0.5% +1.0% +1.0%

1,487,895 1,487,895 1,556,530 1,564,313 1,572,134 1,587,856 1,603,734

785 785 4,209 4,230 4,251 4,294 4,337

3,429 3,429 - - - - -

1,796 1,796 - - - - -

75,000 75,000 75,000 75,375 75,752 76,509 77,274

6,845 6,845 6,838 6,872 6,907 6,976 7,045

1,575,750 1,575,750 1,642,577 1,650,790 1,659,044 1,675,634 1,692,391










1,487,895 1,487,895 1,556,530 1,500,000 1,500,000 1,500,000 1,500,000

- - - 50,000 50,000 50,000 50,000

- - - - - - -

- - - 14,313 22,134 37,856 53,734

785 785 4,209 4,230 4,251 4,294 4,337

3,429 3,429 - - - - -

1,796 1,796 - - - - -

75,000 75,000 75,000 75,375 75,752 76,509 77,274

6,845 6,845 6,838 6,872 6,907 6,976 7,045

1,575,750 1,575,750 1,642,577 1,650,790 1,659,044 1,675,634 1,692,391

0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%











(58,379) (23,568) (17,936) #NAME? #NAME? #NAME? #NAME?



0 0 0 0 0 0 01 1 1 1 1 1 15 6 7 8 9 10 113 3 4 4 5 5 6

2015 2016 2016 2017 2017 2018 20185 6 6 7 7 8 85 5 6 6 7 7 8

+1.0% +1.0% +1.0% +1.0% +1.0% +1.0% +1.0%

1,619,771 1,635,969 1,652,329 1,668,852 1,685,541 1,702,396 1,719,420

4,380 4,424 4,468 4,513 4,558 4,603 4,649

- - - - - - -

- - - - - - -

78,047 78,828 79,616 80,412 81,216 82,028 82,849

7,116 7,187 7,259 7,331 7,405 7,479 7,554

1,709,315 1,726,408 1,743,672 1,761,108 1,778,720 1,796,507 1,814,472










1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000

50,000 50,000 50,000 50,000 50,000 50,000 50,000

- - - - - - -

69,771 85,969 102,329 118,852 135,541 152,396 169,420

4,380 4,424 4,468 4,513 4,558 4,603 4,649

- - - - - - -

- - - - - - -

78,047 78,828 79,616 80,412 81,216 82,028 82,849

7,116 7,187 7,259 7,331 7,405 7,479 7,554

1,709,315 1,726,408 1,743,672 1,761,108 1,778,720 1,796,507 1,814,472

0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%













Check Flag Note

Period star date 01 Jul 11Period end date 31 Dec 11First forecast period 0Forecast periods 0Counter for Check 1Period 1Forecast year counter 0

l

Licence feesActual results

TV1Studio 5,528,973

Premium -

Non Studio -

Exclusive -

Hours bought 558

Total Amort 5,159,892

Sci FiStudio 3,604,350

Premium -

Non Studio 725,000

Exclusive 708,125

Hours bought 514

Total Amort 3,447,909

Rate relativities

0 Premium #NAME?

Calculation - TV1

TV1 Total buy hours 558

TV1 Rate card

1 Studio #NAME?

Premium #NAME?

1 #NAME?

1 #NAME?

Spread of hours

TV1 Studio 1 -

TV1 Premium 2 -

TV1 Non Studio 3 -

TV1 Exclusive 4 -

Content TV1

1 Studio 5,528,973

1 Premium -

1 Non Studio -

1 Exclusive -

Non Studio - TV1

Exclusive - TV1

Mobile -

CSI

O TV1 Content Total content buy - TV1 5,528,973

F Amortisation - TV1 Total Amort - TV1 (5,159,892)

Calculation - SF

SF Total buy hours 514

SF Rate card

0 Studio #NAME?

Premium #NAME?

0 #NAME?

0 #NAME?

Spread of hours

SF Studio 1 -

SF Premium 2 -

SF Non Studio 3 -

SF Exclusive 4 -

Content SF

1 Studio 3,604,350

1 Premium -

1 Non Studio 725,000

1 Exclusive 708,125

Mobile -

O SF Content Total content buy - SF 5,037,475

F Amortisation - SF Total Amort - Sci Fi (3,447,909)

F Local content purchasing Local content 10% (706,522)

Bought hours run offTV1 #NAME?

4 #NAME?

#NAME?

1 #NAME? #NAME?

2 #NAME? #NAME?

3 #NAME? #NAME?

4 #NAME? #NAME?

5 #NAME? #NAME?

6 #NAME? #NAME?

7 #NAME? #NAME?

8 #NAME? #NAME?

9 #NAME? #NAME?

10 #NAME? #NAME?

11 #NAME? #NAME?

12 #NAME? #NAME?

Non Studio - SF

Exclusive - SF

Total hours #NAME?

Original hours per day 1.5 #NAME?

Sci fi #NAME?

Bought hours run off 4 #NAME?

#NAME?

1 #NAME? #NAME?

2 #NAME? #NAME?

3 #NAME? #NAME?

4 #NAME? #NAME?

5 #NAME? #NAME?

6 #NAME? #NAME?

7 #NAME? #NAME?

8 #NAME? #NAME?

9 #NAME? #NAME?

10 #NAME? #NAME?

11 #NAME? #NAME?

12 #NAME? #NAME?

Total hours #NAME?

Original hours per day 1.5 #NAME?

Dec11


0 0 0 1 0 0 00 0 0 1 1 1 11 2 2 3 3 4 42 3 4 5 6 7 80 0 0 1 1 2 2

6,428,333 4,555,131 6,035,800 - - - -

- - - - - - -

60,000 20,000 2,000 - - - -

3,265,000 2,610,000 - - - - -

780 543 568 - - - -

5,733,101 7,227,959 7,272,375 - - - -

1,645,000 1,898,000 3,373,250 - - - -

- - - - - - -

566,450 603,960 672,262 - - - -

462,000 671,025 776,850 - - - -

290 246 452 - - - -

3,963,746 3,652,365 3,687,168 - - - -


780 543 568 275 275 275 275





- - - 100% 100% 100% 100%

- - - - - - -

- - - - - - -

- - - - - - -




3,265,000 2,610,000 - #NAME? #NAME? #NAME? #NAME?

- - - 100,000 100,000 100,000 100,000

1,500,000 1,500,000 1,500,000 1,500,000


(5,733,101) (7,227,959) (7,272,375) #NAME? #NAME? #NAME? #NAME?

290 246 452 300 300 300 300





- - - 62% 62% 62% 62%

- - - - - - -

- - - 28% 28% 28% 28%

- - - 10% 10% 10% 10%





- - - 40,000 40,000 40,000 40,000


(3,963,746) (3,652,365) (3,687,168) #NAME? #NAME? #NAME? #NAME?

(592,493) 1,148,724 (633,792) #NAME? #NAME? #NAME? #NAME?

#NAME?

#NAME? #NAME?















#NAME?

#NAME? #NAME?















Jun12

Dec12

Jun13

Dec13

Jun14

Dec14

Jun15


0 0 0 0 0 0 01 1 1 1 1 1 15 5 6 6 7 7 89 10 11 12 13 14 153 3 4 4 5 5 6

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -


275 275 275 275 275 275 275





100% 100% 100% 100% 100% 100% 100%

- - - - - - -

- - - - - - -

- - - - - - -





100,000 100,000 100,000 100,000 100,000 100,000 100,000

1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000



300 300 300 300 300 300 300





62% 62% 62% 62% 62% 62% 62%

- - - - - - -

28% 28% 28% 28% 28% 28% 28%

10% 10% 10% 10% 10% 10% 10%





40,000 40,000 40,000 40,000 40,000 40,000 40,000
















#NAME? #NAME? #NAME?

#NAME? #NAME?

#NAME?















#NAME? #NAME? #NAME?

#NAME? #NAME?

#NAME?



Dec15

Jun16

Dec16

Jun17

Dec17

Jun18

Dec18

Check Flag NotePeriod star date 01 Jul 11Period end date 31 Dec 11First forecast period 0Forecast periods 0Forecast period counter 0Forecast year counter 0Year 2011Year Counter 1Advertising Growth rate ±0.0%Year on Year growth rate ±0.0%Counter for Check 1

l

TV1Ad calculationsActual results

Advertising costsTotal Shared Cost Contribution 2,043,756

Ad Proceeds after change 9,640,857

TV1

Actuals

Gross Advertising Revenue 9,640,857

Shared Cost Contribution 1,839,379

Advertising Agency Fee 958,792

Advertising proceeds revenue 580,732

Other ad costs 489,164

Advertising Proceeds Subsidisation (46,464)

Sci Fi

Actuals

Gross Advertising Revenue 2,380,961

Shared Cost Contribution 204,377

Advertising Agency Fee 236,797

Advertising proceeds revenue 87,300

Other ad costs 103,972

Advertising Proceeds Subsidisation (5,914)

Ad Calculations

Shared Cost Contribution %

TV1 0%

Sci Fi 0%

Foxtel advertising revenue recharge %

1 TV1 #NAME?

1 SF #NAME?

Costs

Total Shared Cost Contribution 2,043,756

1 TV1

F TV1 - Gross Advertising Revenue Gross Advertising Revenue 9,640,857

Advertising Costs

F TV1 - Shared Cost Contribution Shared Cost Contribution (1,839,379)

F TV1 - Advertising Agency Fee Advertising Agency Fee (958,792)

F TV1 - Foxtel advertising revenue recharge Foxtel advertising revenue recharge 150,000 (580,732)

F TV1 - Other Ad Costs Other Ad Costs 5% (489,164)

F TV1 - Foxtel advertising proceeds subsidisation Foxtel advertising proceeds subsidisation 5% 46,464

Net advertising revenue 5,819,254

2 SF

F SF - Gross Advertising Revenue Gross Advertising Revenue 2,380,961

Advertising Costs

F SF - Shared Cost Contribution Shared Cost Contribution (204,377)

F SF - Advertising Agency Fee Advertising Agency Fee (236,797)

F SF - Foxtel advertising revenue recharge Foxtel advertising revenue recharge 30,000 (87,300)

F SF - Other Ad Costs Other Ad Costs 5% (103,972)

F SF - Foxtel advertising proceeds subsidisation Foxtel advertising proceeds subsidisation 5% 5,914

Net advertising revenue 1,754,429

END


0 0 0 1 0 0 00 0 0 1 1 1 10 0 0 1 2 3 40 0 0 1 1 2 2

2012 2012 2013 2013 2014 2014 20151 2 2 3 3 4 4

±0.0% ±0.0% ±0.0% -0.0% +1.5% +1.5% +1.5%±0.0% ±0.0% ±0.0% ±0.0% ±0.0% ±0.0% ±0.0%

1 2 2 3 3 4 4

1,683,756 2,000,000 2,000,000 - - - - 8,597,020 8,836,644 8,836,644 - - - -

8,597,020 8,836,644 8,836,644 - - - - 1,515,378 1,800,000 1,800,000 - - - -

853,895 876,028 876,028 - - - - 604,726 682,804 682,804 - - - - 490,122 464,753 464,753 - - - - (53,930) (60,260) (60,260) - - - -

1,941,547 1,969,305 2,019,595 - - - - 168,378 200,000 200,000 - - - - 192,054 193,806 193,806 - - - -

94,745 116,056 116,056 - - - - 91,281 90,865 90,865 - - - - (7,262) (8,596) (8,596) - - - -

0% 0% 0% 90% 90% 90% 90%

0% 0% 0% 10% 10% 10% 10%



1,683,756 2,000,000 2,000,000 2,000,000 1,750,000 1,750,000 1,750,000

8,597,020 8,836,644 8,836,644 8,836,644 8,969,194 9,103,732 9,240,288

(1,515,378) (1,800,000) (1,800,000) (1,800,000) (1,575,000) (1,575,000) (1,575,000)

(853,895) (876,028) (876,028) (883,664) (896,919) (910,373) (924,029)

(604,726) (682,804) (682,804) (658,428) #NAME? #NAME? #NAME?

(490,122) (464,753) (464,753) (476,372) (488,281) (500,488) (513,000)

53,930 60,260 60,260 56,258 #NAME? #NAME? #NAME?

5,186,829 5,073,319 5,073,319 5,074,438 #NAME? #NAME? #NAME?

1,941,547 1,969,305 2,019,595 2,019,595 2,049,889 2,080,637 2,111,847

(168,378) (200,000) (200,000) (200,000) (175,000) (175,000) (175,000)

(192,054) (193,806) (193,806) (201,960) (204,989) (208,064) (211,185)

(94,745) (116,056) (116,056) (92,817) #NAME? #NAME? #NAME?

(91,281) (90,865) (90,865) (93,137) (95,465) (97,852) (100,298)

7,262 8,596 8,596 6,947 #NAME? #NAME? #NAME?

1,402,351 1,377,174 1,427,464 1,438,629 #NAME? #NAME? #NAME?

143,764


0 0 0 0 0 0 01 1 1 1 1 1 15 6 7 8 9 10 113 3 4 4 5 5 6

2015 2016 2016 2017 2017 2018 20185 5 6 6 7 7 8

+1.5% +1.5% +1.5% +1.5% +1.5% +1.5% +1.5%±0.0% ±0.0% ±0.0% ±0.0% ±0.0% ±0.0% ±0.0%

5 5 6 6 7 7 8

- - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

90% 90% 90% 90% 90% 90% 90%

10% 10% 10% 10% 10% 10% 10%



1,750,000 1,750,000 1,750,000 1,750,000 1,750,000 1,750,000 1,750,000

9,378,892 9,519,575 9,662,369 9,807,304 9,954,414 10,103,730 10,255,286

(1,575,000) (1,575,000) (1,575,000) (1,575,000) (1,575,000) (1,575,000) (1,575,000)

(937,889) (951,958) (966,237) (980,730) (995,441) (1,010,373) (1,025,529)


(525,825) (538,971) (552,445) (566,256) (580,413) (594,923) (609,796)



2,143,525 2,175,677 2,208,313 2,241,437 2,275,059 2,309,185 2,343,822

(175,000) (175,000) (175,000) (175,000) (175,000) (175,000) (175,000)

(214,352) (217,568) (220,831) (224,144) (227,506) (230,918) (234,382)


(102,805) (105,376) (108,010) (110,710) (113,478) (116,315) (119,223)



Check Flag NotePeriod star datePeriod end dateFirst forecast periodForecast periodsYearYear CounterForecast year counter

l

Operating expenses - actual results

Programming ExpensesProgramming Salaries Controllable

Interstitial Programming

Controllable Interstitial Programming Controllable

Non-Controllable Interstitial Programming Non-Controllable

Promotions ExpensesPromotions Dept Salaries Controllable

Interstitial Promotions Controllable

Other Promotion Expenses

Other Controllable Expenses Controllable

Other Non-Controllable Expenses Non-Controllable

MarketingMarketing Controllable

PublicityPublicity Controllable

General & Administrative ExpensesSalary Expenses Controllable

Operations Costs Non-Controllable

Occupancy Costs

Controllable Occupancy Costs Controllable

Non-Controllable Occupancy Costs Non-Controllable

Information Technology Expense

Controllable Information Technology Expense Controllable

Non-Controllable Information Technology Expense Non-Controllable

Other Administrative Expenses

Other Controllable Expenses Controllable

Other Non-Controllable Expenses Non-Controllable

Total of above: Controllable

Non-Controllable

Other income/expenditure and DepreciationDepreciation expense

Other income/expenditure

Controllable expenditureInflation %

Cost saving %

F Controllable operating expenses Controllable operating expenses

Non-controllable expenditureInflation %

F Non-controllable operating expenses Non-controllable operating expenses

DepreciationDepreciation indexation %

F Depreciation expense Depreciation expense

Other income/expenditureInflation %

F Other income/expenditure Other income/expenditure

END


0 0 0 0 1 0 00 0 0 0 1 1 1

2011 2012 2012 2013 2013 2014 20141 1 2 2 3 3 40 0 0 0 1 1 2

408,440 521,555 412,763 415,787 - - -

218,503 217,000 124,662 120,223 - - -

117,673 89,373 85,443 83,250 - - -

640,848 740,893 565,068 521,219 - - -

377,725 215,300 311,346 336,465 - - -

- - 26,327 28,800 - - -

58,474 51,724 55,096 74,905 - - -

737,188 245,692 226,212 206,043 - - -

70,099 12,815 19,199 19,840 - - -

1,790,994 1,682,351 1,517,089 1,463,938 - - -

188,524 150,465 151,610 172,087 - - -

39,930 36,372 38,214 38,850 - - -

201,944 198,450 200,894 208,238 - - -

5,142 8,260 6,666 4,134 - - -

522,329 559,146 618,594 626,244 - - -

298,654 263,039 191,516 253,675 - - -

374,637 355,162 352,640 399,455 - - -

(4,587,523) (3,943,277) (3,439,062) (3,408,974) - - -

(1,463,581) (1,404,320) (1,464,277) (1,564,179) - - -

143,293 162,647 160,924 166,000 - - -

48,235 1,527,223 74,941 681,583 - - -

±0.0% ±0.0% ±0.0% ±0.0% +1.5% +1.5% +1.5%

±0.0% ±0.0% ±0.0% ±0.0% ±0.0% ±0.0% ±0.0%

1,450,000

(4,587,523) (3,943,277) (3,439,062) (3,408,974) (3,460,109) (2,062,010) (2,092,940)

±0.0% ±0.0% ±0.0% ±0.0% +1.5% +1.5% +1.5%

(1,463,581) (1,404,320) (1,464,277) (1,564,179) (1,587,642) (1,611,456) (1,635,628)

±0.0% ±0.0% ±0.0% ±0.0% ±0.0% ±0.0% ±0.0%

(143,293) (162,647) (160,924) (166,000) (166,000) (166,000) (166,000)

±0.0% ±0.0% ±0.0% ±0.0% +1.5% +1.5% +1.5%

600,000 (150,000)

(48,235) (1,527,223) (74,941) (681,583) (91,807) (243,184) (246,832)


0 0 0 0 0 0 01 1 1 1 1 1 1

2015 2015 2016 2016 2017 2017 20184 5 5 6 6 7 72 3 3 4 4 5 5

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

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+1.5% +1.5% +1.5% +1.5% +1.5% +1.5% +1.5%

±0.0% ±0.0% ±0.0% ±0.0% ±0.0% ±0.0% ±0.0%

(2,124,334) (2,156,200) (2,188,543) (2,221,371) (2,254,691) (2,288,512) (2,322,839)

+1.5% +1.5% +1.5% +1.5% +1.5% +1.5% +1.5%

(1,660,163) (1,685,065) (1,710,341) (1,735,996) (1,762,036) (1,788,467) (1,815,294)

±0.0% ±0.0% ±0.0% ±0.0% ±0.0% ±0.0% ±0.0%

(166,000) (166,000) (166,000) (166,000) (166,000) (166,000) (166,000)

+1.5% +1.5% +1.5% +1.5% +1.5% +1.5% +1.5%

(250,534) (254,292) (258,106) (261,978) (265,908) (269,896) (273,945)

01 Jul 1831 Dec 18

01

201886

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

+1.5%

±0.0%

(2,357,682)

+1.5%

(1,842,523)

±0.0%

(166,000)

+1.5%

(278,054)

Date post:	08-Jul-2020
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