Full Year Results Investor Presentation

INVESTOR
PRESENTATION
FY18 FINANCIAL RESULTS
23 August 2018

2
DISCLAIMER
The information in this presentation was prepared by EBOS Group Ltd with due care and attention. However, the information is supplied
in summary form and is therefore not necessarily complete, and no representation is made as to the accuracy, completeness or
reliability of the information. In addition, neither the EBOS Group nor any of its subsidiaries, directors, employees, shareholders nor any
other person shall have liability whatsoever to any person for any loss (including, without limitation, arising from any fault or negligence)
arising from this presentation or any information supplied in connection with it.
This presentation may contain forward-looking statements and projections. These reflect EBOS’ current expectations, based on what it
thinks are reasonable assumptions. EBOS gives no warranty or representation as to its future financial performance or any future matter.
Except as required by law or NZX or ASX listing rules, EBOS is not obliged to update this presentation after its release, even if things
change materially. This presentation does not constitute financial advice. Further, this presentation is not and should not be construed as
an offer to sell or a solicitation of an offer to buy EBOS Group securities and may not be relied upon in connection with any purchase of
EBOS Group securities.
This presentation contains a number of non-GAAP financial measures, including Gross Profit, Gross Operating Revenue, EBIT, EBITA,
EBITDA, Underlying EBITDA, NPAT, Underlying NPAT, Underlying Earnings per Share, Free Cash Flow, Interest cover, Net Debt and Return
on Capital Employed. Because they are not defined by GAAP or IFRS, EBOS’ calculation of these measures may differ from similarly titled
measures presented by other companies and they should not be considered in isolation from, or construed as an alternative to, other
financial measures determined in accordance with GAAP. Although EBOS believes they provide useful information in measuring the
financial performance and condition of EBOS' business, readers are cautioned not to place undue reliance on these non-GAAP financial
measures.
The information contained in this presentation should be considered in conjunction with the consolidated financial statements for the
period ended 30 June 2018.
All currency amounts are in New Zealand dollars unless stated otherwise.

Group Financial Results

4
FY18 SUMMARY RESULTS
$7.6b
Revenue
$272.4m
EBITDA
$149.6m
N PAT
ROCE
EPS Dividends per share
No underlying adjustments
recorded in FY18
15.8%
-0.6%
98.5c
+12.1%
(+5.4% Constant FX and
Underlying)
68.5c
+8.7%
-0.2%
(-2.5% Constant FX)
+16.2%
(+10.3% Constant FX and
Underlying)
+12.2%
(+5.5% Constant FX and
Underlying)
FY18 Guidance Exceeded: 10.3%
underlying, constant currency
EBITDA growth.

5
STRATEGIC HIGHLIGHTS
Investments and New Business
Investments of $33.6m made in FY18
14% investment in ASX listed, MedAdvisor Ltd
(October 2017). Australia’s leading digital medication
management company.
Acquisition of Gran’s Remedy (March 2018). New
Zealand leading footcare consumer brand.
Acquisition of Ventura Health (April 2018).
Management company of Australian pharmacy retail
group.
HPS acquired in June 2017 and fully integrated.
Black Hawk remains one of the fastest growing
premium pet food brands in Australia and was
successfully launched into the NZ market in FY18.
Announcement post 30 June 2018
Symbion has been notified that it has won the tender
with Chemist Warehouse to be the exclusive third
party distributor of pharmaceutical products in
Australia for 5 years, effective from 1 July 2019.
Capital Management & Leadership
Capex of $63.2m in FY18
A new 25,000m
2
Contract Logistics facility in
Sydney opened in June 2018.
New highly automated wholesale distribution
centre to open in Brisbane in H1 FY19.
Cash & Debt Management
Disciplined cash management with strong cash
flow before capex of $176m, up $32 million on
prior year.
Net Debt to EBITDA ratio improved to 1.74x (June
2017: 1.79x).
Extended the tenor of our core debt facilities and
entered into a new 3 year securitisation facility.
Leadership Transition
John Cullity replaced Patrick Davies as CEO and
Shaun Hughes commenced as CFO.
New management structure implemented with
Brett Barons, CEO Symbion and Sean Duggan,
CEO Animal Care & Consumer Brands.

6
FY18 FINANCIAL PERFORMANCE
Revenue decrease was driven by
lower hepatitis C medicine sales
(which were $364m lower than
FY17, constant FX).
Revenue excluding hepatitis C
medicine sales grew by $172m or
2.5% (constant FX).
Underlying EBITDA increase of
$31.0m or 10.3% (constant FX):
Healthcare up 10.4%.
Animal Care up 9.0%.
Underlying NPAT increase of
$11.0m or 5.5% (constant FX).
Underlying EPS growth of 5.4%
(constant FX).
Lower NZD:AUD cross rate positively
impacted EBITDA by $5.4m in FY18.
Note 1: Net profit after tax and non-controlling interests.
Note 2: Calculated on an underlying basis that excludes transaction costs incurred on prior year acquisitions.
Constant FX
NZ$m
FY18FY17VarVar
Statutory Results
Revenue7,609.5 7,625.9 (0.2%)(2.5%)
Gross Operating Revenue856.6 745.3 14.9%12.4%
EBITDA272.4 234.4 16.2%13.6%
EBIT237.6 208.6 13.9%11.4%
Net Finance Costs22.7 19.0 (19.4%)(16.9%)
Profit Before Tax214.9 189.6 13.4%10.9%
Net Profit After Tax
1
149.6 133.3 12.2%9.7%
Statutory EPS - cps98.5 87.8 12.1%9.6%
Underlying EBITDA
2
272.4 241.4 12.8%10.3%
Underlying NPAT
2
149.6 138.6 7.9%5.5%
Underlying EPS - cps
2
98.5 91.3 7.8%5.4%
Net Debt471.1 434.7
Net Debt : EBITDA1.74x1.79x

Healthcare Results

8
Constant FX
NZ$m
FY18FY17Var
Var
Healthcare
Revenue7,197.67,202.7
(0.1%)(2.3%)
EBITDA235.9
208.813.0%
10.4%
EBIT
205.2187.1
9.7%7.2%
EBITDA%3.28%
2.90%38pts38pts
Australia
Revenue5,661.75,756.8(1.7%)(4.4%)
EBITDA189.8
164.715.2%11.9%
EBIT161.4145.211.2%8.0%
EBITDA%3.35%2.86%
49pts49pts
New Zealand
Revenue
1,535.91,445.96.2%
EBITDA46.144.14.6%
EBIT43.8
41.94.5%
EBITDA%3.00%3.05%-5pts
HEALTHCARE SEGMENT
Strong trading performance across Australia and New Zealand
EBITDA increase of $27.1m or 10.4%
(constant FX):
Australia up 11.9% assisted by the full
year contributions of HPS (acquired
June 2017) and TWC (acquired October
2016).
New Zealand up 4.6%.
Revenue decrease of $5.1m or 2.3%
(constant FX):
Australia down 4.4% (although up
$104m or 2.1% excluding hepatitis C
medicine sales, constant FX).
FY18 hepatitis C revenue was $364m
lower than last year (constant FX) and
monthly sales were steady in the second
half of FY18.
New Zealand revenue up 6.2%, with
growth from all business units.

9
COMMUNITY
PHARMACY
New Brisbane wholesale distribution facility
Total Pharmacy Revenue declined by 1.6%
(constant FX), attributable to lower hepatitis C
medicine sales (-$147m) and PBS reforms,
partially offset by a full year contribution from
TerryWhite Chemmart (TWC) and growth in
underlying business.
Underlying Revenue growth (excluding hepatitis C
and TWC) was 1.4%.
Total OTC sales were marginally above last year.
GOR (excluding acquisitions) increased by 2.9%,
primarily due to underlying wholesale pharmacy
growth in Australia and New Zealand, partly offset
by lower hepatitis C medicine sales.
TWC store rebranding project is largely complete.
Acquisition of Ventura (April 2018), management
company of an Australian retail pharmacy group
with 80 stores.
The new Brisbane facility is planned for
completion in 1H FY19 and will further increase
Symbion’s warehouse productivity.
NZ$m
FY18FY17FY17Var%
Revenue4,215.94,181.94,283.6(1.6%)
- Revenue ex.
acquisitions
4,092.04,088.44,187.7(2.3%)
GOR410.2372.2381.87.5%
- GOR ex.
acquisitions
324.2307.1314.92.9%
GOR%9.7%8.9%8.9%
ReportedConstant FX

10
CHEMIST WAREHOUSE
ANNOUNCEMENT
In July 2018, EBOS was notified it won the tender to act as the exclusive third party distributor
of pharmaceutical products to more than 400 Chemist Warehouse and My Chemist stores in
Australia.
EBOS expects to enter into a five-year supply agreement, to take effect from 1 July 2019, with
the potential for an extension of a further 3 years.
EBOS estimates that sales to the Chemist Warehouse Group stores will generate approximately
A$1 billion in revenue in the first year of the agreement.
To be selected as a trusted partner by Chemist Warehouse Group reinforces our capital
investment strategy and reflects the efficiencies we have made over a number of years to our
operations. It also reflects the high level of expertise and service standards that we offer the
industry.
EBOS is confident that it will generate an acceptable return on capital from this new business.

11
INSTITUTIONAL
HEALTHCARE
With the acquisition of HPS in June 2017,
EBOS continues to expand its position as an
essential partner to industry across a number
of areas, primarily in hospitals, primary care
and aged care.
FY18 revenue and GOR growth was impacted
by a significant reduction in hepatitis C sales
(-$216m), partially offset by the contribution
from HPS.
Underlying revenue growth (excluding
hepatitis C and HPS) was 2.9%.
Solid GOR growth achieved from Symbion
Hospitals (excluding hepatitis C), EBOS
Healthcare and Onelink New Zealand.
HPS is performing well and in-line with
expectations.
NZ$m FY18FY17FY17Var%
Revenue2,451.22,484.52,544.5(3.7%)
- Revenue ex.
acquisitions
2,381.32,479.32,539.2(6.2%)
GOR214.4154.3157.736.0%
- GOR ex.
acquisitions
154.0149.8153.00.6%
GOR%8.7%6.2%6.2%
ReportedConstant FX

12
CONTRACT
LOGISTICS
New Sydney Contract Logistics facility.
GOR growth achieved in both New Zealand
and Australia from key principals. Revenue
declined to last year with some principals
switching to a consignment 3PL model.
Healthcare Logistics (NZ) maintained its
leading market position and, combined with
cost management, delivered another period
of increased earnings.
The Group expanded its Contract Logistics
business in Australia with the opening of a
new 25,000m² facility in Sydney (NSW) in
June 2018.
The Australian business has recently been
rebranded as Healthcare Logistics to further
align the ANZ operations.
Note: GOR % not relevant as sales activity is predominantly done on consignment.
NZ$m FY18FY17FY17Var%
Revenue482.4484.9487.9(1.1%)
GOR65.060.561.36.1%
Constant FXReported

13
CONSUMER
PRODUCTS
Revenue and GOR were assisted by Red Seal
sales growth (primarily in the toothpaste, teas
and supplements categories) and the
acquisition of Gran’s Remedy in March 2018.
Red Seal domestic NZ sales increased 7.3% and
pleasingly, international sales grew 13.2% to
last year.
Sales and GOR margins were impacted in part
by the decision in Australia to reschedule
codeine products to prescription only effective
from February 2018.

NZ$m FY18FY17FY17
Var%
Revenue118.3105.4
106.511.1%
GOR46.242.5
42.97.7%
GOR%39.1%40.3%40.3%
Constant FX
Reported

Animal Care Results

15
ANIMAL CARE SEGMENT
A strong EBITDA performance reflecting the pivot to our own key brands
54%
FY17: 51%
37%
FY17: 29%
9%
FY17: 20%
REVENUE
MIX BY
CATEGORY
Wholesale (Lyppard)
EBOS brands (Black Hawk and Vitapet)
Other products
EBITDA increase of $5.1m or 9.0%
(constant currency):
Black Hawk sales growth in Australia
of 23%.
Earnings were negatively impacted by
$3.3m: due to costs associated with
the launch of Black Hawk in New
Zealand and exiting the Mars agency
business.
EBITDA margin% increase reflects our
strategic focus on developing our key
brands.
Constant FX
NZ$m
FY18FY17VarVar
Animal Care
Revenue411.9423.2(2.7%)(5.1%)
EBITDA49.844.711.3%9.0%
EBIT46.241.212.2%9.8%
EBITDA%12.08%10.57%151pts151pts

16
ANIMAL CARE SEGMENT
FY18 Revenue declined $11.3m or 5.1% (constant FX) due to:
Ceasing low margin wholesale sales to a major Australian retail
chain. Revenue in FY18 was impacted by $26 million.
In July 2017, Black Hawk was launched in New Zealand and
consequently we ceased the sales, marketing and distribution
of Mars branded products in NZ.
Black Hawk continues to outperform:
Black Hawk Australian sales grew 23% (following growth of 48%
in FY17 and 55% in FY16). Growth well above market due to:
New product development including new Large breed
Adult & Puppy SKU’s and a complete new cat range.
Strong investment in marketing driving increased brand
awareness and retail support
Rebranding and new packaging across the entire range
Launch of Black Hawk in NZ has exceeded expectations. Strong
support has been received from specialty retailers and
veterinary clinics

Group Financial Information &
Outlook

18
CASH FLOW
Record Operating Cash Flow performance
Record operating cash flow of
$176.2m demonstrates the
Group’s disciplined focus on
cash flow management.
FY18 Capex spend primarily
comprises the new distribution
centre in Brisbane ($24.6m)
and the new contract logistics
facility in Sydney ($14.6m).
Acquisition and investments of
$33.6m in FY18 includes the
Group’s acquisitions of Gran’s
Remedy and Ventura and the
investment in MedAdvisor.
NZ$mFY18FY17Var$Var%
EBITDA272.4 234.4 38.0
16.2%
Net interest paid
(22.7) (19.0) (3.7)
Tax paid
(65.3) (65.4)
0.1
Net working capital and other movements
(8.2) (6.1)
(2.1)
Cash from Operating activities176.2
143.9 32.2
22.4%
Capital expenditure (net)(63.2) (37.4)
(25.8)
Free Cash Flow112.9 106.5 6.4 6.1%
Acquisitions and investments
(33.6)
(184.1) 150.5
Dividends paid (100.7) (94.9) (5.7)
Net Cash Flow(21.4) (172.6)
151.2
Borrowings acquired on acquistion- (14.7) 14.7
FX impact on net debt(15.0) 0.2
(15.2)
(Increase)/Reduction in Net Debt(36.4) (187.1) 150.7

19
WORKING CAPITAL AND ROCE
Working Capital
Return on Capital Employed
Working capital management discipline is
a key focus of the Group and maintaining
the industry leading cash conversion cycle
of 15 days is reflective of this.
Return on Capital Employed of 15.8% at June
2018, lower than June 2017 (-0.6%) primarily
due to a higher investment in net working
capital and the cost of the recently acquired HPS
business.
Note 1: Cash conversion days are adjusted for the Group’s 3PL debtors and creditors arising from its hepatitis C business.
NZ$mJune 2018June 2017
Net Working Capital
Trade receivables971.81,015.1
Inventory582.9572.0
Trade payables/other(1,303.3)(1,353.7)
Total251.4233.4
Cash conversion days
1
Debtor days41 41
Inventory days32 30
Creditor days58 57
Cash conversion days15 14
12.8%
13.7%
16.4%
16.4%
15.8%
FY14FY15FY16FY17FY18

20
NET DEBT, GEARING AND MATURITY PROFILE
Net Debt and Gearing
Net Debt of $471m at June 2018, an
increase of $36m from June 2017.
Net Debt : EBITDA of 1.74x at June
2017 (1.79x at June 2017).
Current gearing continues to provide
headroom for future acquisitions.
Debt Maturity Profile – current facility limits (NZ$m)
In H2 FY18, EBOS completed:
A new 3 year securitisation facility (A$400m)
which expires in January 2021.
Refinancing of term debt facilities (NZ$319m)
extended to May 2023.
At 30 June 2018, the weighted average maturity
of our combined term debt & securitisation
facilities is 3.4 years.

316
317
248
435
471
24.4%
23.2%
18.5%
27.4%
27.9%
0%
5%
10%
15%
20%
25%
30%
0
50
100
150
200
250
300
350
400
450
500
Jun-14
Jun-15
Jun-16
Jun-17
Jun-18
Gearing ratio
Net debt (NZ$m)
Net DebtGearing ratio (Net debt)
100
-
133
54
319
436
FY19FY20FY21FY22FY23
Cash advance facilityTerm debt facilitiesSecuritisation

21
EARNINGS AND DIVIDENDS PER SHARE
Underlying Earnings Per Share
Underlying EPS growth of 7.8% in FY18, or 5.4% (constant FX) following increases of 11.1% in
FY17 and 18.2% in FY16.
Final dividend of 35.5 cents (imputed to 25% and franked to 100% for Australian resident
shareholders).
To t a l dividends in FY18 of 68.5 cents represents an increase of 8.7% on last year.
Dividend payout ratio of 70%.
Dividends Per Share
20.5
22.0
26.0
30.0
33.0
20.5
25.0
32.5
33.0
35.5
FY14FY15FY16FY17FY18
Cents per share
H1H2
62.8
70.8
84.0
91.3
98.5
FY14FY15FY16FY17FY18
Cents per share

22
OUTLOOK
EBOS Group has recorded a strong financial performance in FY18 and the Company is confident of
further profit growth into FY19 on an underlying, constant currency basis.

A performance update will be provided to shareholders at the Annual Meeting on 16 October 2018.




With 82% of the Group’s earnings generated from Australia, the statutory results have historically been
significantly impacted by movements in the NZD:AUD exchange rate. In order to reduce this volatility
for future periods, the Board has decided to change the Group’s presentation currency from New
Zealand dollars to Australian dollars effective 1 July 2018.
CHANGE IN PRESENTATION CURRENCY

Supporting Information

24
0.88
0.89
0.90
0.91
0.92
0.93
0.94
0.95
0.96
0.97
0.98
Jul-16
Oct-16
Jan-17
Apr-17
Jul-17
Oct-17
Jan-18
Apr-18
Jun-18
FOREIGN EXCHANGE
Depreciation of the average NZD:AUD cross-rate by 2.7c to 0.918 positively impacted EBITDA by $5.4m in FY18
82% of the Group’s earnings
(EBITDA) are generated in
AUD.
The average NZD:AUD FX rate
for FY18 decreased by 2.7
cents from FY17, positively
impacting the Group’s FY18
EBITDA by approximately
$5.4m.
EBITDA sensitivity to a 1 cent
movement in NZD:AUD
exchange rate is
approximately $2.1m per
annum.
Revenue and EBITDA by currency
NZD:AUD exchange rate – July 2016 to June 2018
FY17 average: 0.945c
FY18 average: 0.918c
AUDAverageAUDNZGroup
OperationsNZD: AUDOperations
OperationsConsolidated
$mAUDtranslationNZDNZD
NZD
FY18
Revenue5,527.6 0.92
6,022.0 1,587.5
7,609.5
EBITDA204.2 0.92
222.4 50.0
272.4
EBITDA%
3.69%3.69%3.15%3.58%

25
Health Care
Animal Care
Pharmacy
(Wholesale and retail)
Institutional Healthcare
Contract Logistics
Consumer Products
SEGMENT EARNINGS AND GOR MIX
EBITDA by segment
Gross Operating Revenue (GOR) FY18
5%
14%
14%
25%
8%
FY18 GOR Mix
48%
86%
FY17 Corporate segment result includes $7.0m
of transaction costs incurred on the TerryWhite
Chemmart merger and the HPS acquisition.
Constant FX
NZ$m
FY18FY17VarVar
Healthcare235.9208.813.0%10.4%
Animal Care49.844.711.3%9.0%
Corporate(13.2)(19.1)30.5%32.1%
Group272.4234.416.2%13.6%
Transaction costs- 7.0
Group - underlying272.4241.412.8%10.3%

26
EBOS STRATEGIC APPROACH
Investing for Growth
Our Healthcare and Animal Care strategic focus is centred on
We focus on delivering profitable growth and superior returns
Leading Market
Positions
Disciplined Capital
Management
Two types of investments:
Acquisitions: we have a
successful track record of
deal execution.
Internal Capex: investment
to lift productivity, manage
costs and deliver better
customer service.
Cash generation to drive
scope for further
investment which allows for
dividends to be paid in the
range of 60-70% of Net
Profit After Tax.
Acquisitions and new
business focus on
supporting the Group’s
return on capital employed.
We aim to have positions of
scale in the markets we operate
in and maximise opportunities
across our wide range of
businesses wherever possible.

27
175.4
196.7
225.5
241.4
272.4
FY14
FY15
FY16
FY17
FY18
5 Year Underlying EBITDA
NZ$m
8
10
12
14
16
18
20
22
Aug-13Aug-14Aug-15Aug-16Aug-17
Share Price (NZD)
5 YEARS POST SYMBION DEAL
We continue to deliver results whilst reinvesting for growth
Investments made (NZ$m)
Results achieved
$569m over
last 5 years
Share Price
+110%
EBOS Share Price (NZ$) – Last 5 Years performance
62.8
70.8
84.0
91.3
98.5
FY14
FY15
FY16
FY17
FY18
5 Year Underlying EPS
cents per share
35.3
15.4
17.6
37.6
63.2
3.5
70.9
88.1
203.6
33.6
FY14FY15FY16FY17FY18
Capital expenditureAcquisitions and investments
5 Year
CAGR
+11.6%
5 Year
CAGR
+11.9%
Aug-18

28
175.4
196.7
225.5
241.4
272.4
3.05%
3.24%
3.18%
3.17%
3.58%
2.00%
2.20%
2.40%
2.60%
2.80%
3.00%
3.20%
3.40%
3.60%
-
50.0
100.0
150.0
200.0
250.0
300.0
FY14FY15FY16FY17FY18
EBOS GROUP
HISTORICAL EBITDA & MARGIN
All data shown above is on a Reported basis
Note 1: FY17 EBITDA and EBITDA margin is presented on an underlying basis and excludes $7m in transaction costs incurred on acquisitions.
EBITDA (
NZ$m
)
EBITDA %
¹

29
153.1
170.2
195.0
208.8
235.9
2.82%
2.99%
2.92%
2.90%
3.28%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
-
50.0
100.0
150.0
200.0
250.0
FY14FY15FY16FY17FY18
HEALTHCARE
HISTORICAL EBITDA & MARGIN
EBITDA (
NZ$m
)
EBITDA %
All data shown above is on a Reported basis

30
ANIMAL CARE
HISTORICAL EBITDA & MARGIN
EBITDA (
NZ$m
)
EBITDA %
29.4
37.1
42.3
44.7
49.8
8.68%
9.89%
10.19%
10.57%
12.08%
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
-
10.0
20.0
30.0
40.0
50.0
60.0
FY14FY15FY16FY17FY18
All data shown above is on a Reported basis.

31
GLOSSARY OF TERMS AND MEASURES
Term Definition
Actual results Results translated into NZ dollars at the applicable actual monthly exchange rates ruling in each period.
Debtor days Trade debtors at the end of period divided by Revenue for the period, multiplied by number of days in the period.
Inventory days Inventory at the end of period divided by Cost of Sales for the period, multiplied by number of days in the period.
Creditor days Trade creditors at the end of period divided by Cost of Sales for the period, multiplied by number of days in the period.
Constant
FX/currency
Calculated by translating the prior period results into NZ dollars at the actual monthly exchange rates applicable in the current
period.
Revenue Revenue from the sale of goods and the rendering of services.
Gross Operating
Revenue (GOR)
Revenue less cost of sales and the write-down of inventory.
EBIT Earnings before interest and tax.
EBITDA Earnings before interest, tax, depreciation and amortisation.
Underlying EBITDA Earnings before interest, tax, depreciation, amortisation and transaction costs relating to acquisitions.
NPAT Net Profit After Tax attributable to the owners of the company.
Underlying NPAT Net Profit After Tax attributable to the owners of the company and before transaction costs relating to acquisitions.
Free Cash Flow Cash from operations less capital expenditure net of proceeds from disposals.
Earnings per share
(EPS)
Net Profit after tax divided by the weighted average number of shares on issue during the period in accordance with IAS 33
‘Earnings per share’.
Underlying EPS NPAT excluding transaction costs on acquisitions, divided by the weighted average number of shares on issue during the period .
Net Debt : EBITDA Ratio of net debt at period end to the last 12 months EBITDA, adjusting for pre acquisition earnings of acquisitions for the period.
Return on Capital
Employed (ROCE)
Measured as underlying earnings before interest, tax and amortisation of finite life intangibles for 12 months divided by closing
capital employed (including a pro-rata adjustment for entities acquired and excluding amounts for significant capital projects
yet to complete and strategic investments).
Except where noted, common terms and measures used in this document are based upon the following definitions:

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