Growth Year 1999 2000 2001

0.0% Equity+Debt 100.00 100.00 100.00

18.0% FCF 10.00 11.80 13.92
Adjusted FCF 10.00 11.80 13.92
FCF Override
Adjusted FCF Growth #N/A 18% 18%
CROIC 10% 12% 14%

Restrain by 33.0% 3 yr MA Ratchet #N/A #N/A #N/A

Restrainded FCF growth % by 3yrMA

Line of ones 1 1 1
Multi Year Performance 1999-2008 2000-2008 2001-2008
Relative weight (out of 20) → 2 2 2
Equity+Debt 0.00% 0.00% 0.00%
Adjusted FCF Growth #N/A 18.00% 18.00%
CROIC 22.80% 24.31% 25.97%

Multi year restrained 3yr MA growth

#N/A #N/A #N/A

1999-2006 2000-2007 2001-2008

Free Cash Flow (FCF) 13.2% 16.5% 15.6%
 2002 2003 2004 2005 2006 2007 2008
100.00 100.00 100.00 100.00 100.00 100.00 100.00
16.43 19.39 22.88 27.00 31.85 37.59 44.35
16.43 19.39 22.88 27.00 27.00 40.00 44.35
27.00 40.00 <<== manually change values
18% 18% 18% 18% 0% 48% 11%
16% 19% 23% 27% 27% 40% 44%

15.84 18.69 22.05 26.02 27.00 34.08 41.67

18% 18% 18% 4% 26% 22%

1 1 1 1 1 1 1
2002-2008 2003-2008 2004-2008 2005-2008 2006-2008 2007-2008 2008 wAVG
2 2 2 2 2 2 ###
2
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% #N/A 0.00% 1
18.00% 18.00% 18.00% 18.00% 18.00% 28.17% 10.89% 18.34% 6
27.80% 29.80% 31.99% 34.37% 36.92% 42.16% 44.35% 32.05% 3

#N/A 17% 17% 17% 17% 24% 22% 19.27%

2002-2006 2003-2007 2004-2008 2005-2007 2006-2008 Median Reduced

10.4% 15.6% 14.2% 14.0% 18.0% 14.87% 11.95%
manually change values here to check formula

← Manual override
← Relative weight for equity growth (1÷10)
← Relative weight for FCF growth
← Relative weight for CROIC growth