Slide 1: Sika – Committed to Sustainable Performance
SIKA – COMMITTED TO SUSTAINABLE PERFORMANCE NOVEMBER 2020
Slide 2: Table of Content
TABLE OF CONTENT 1 GOVERNANCE - STRUCTURES AND RESPONSIBILITIES IN PLACE 2 STRONG CORPORATE CULTURE 3 SIKA IS COMMITTED TO SUSTAINABILITY 4 SOCIAL RESPONSIBILITY 5 REMUNERATION – WELL-BALANCED COMPENSATION SYSTEM 2
Slide 3: Governance - Structures and Responsibilities in Place
GOVERNANCE - STRUCTURES AND RESPONSIBILITIES IN PLACE
Slide 4: Corporate Governance: Commitment to Openness and Transparency
CORPORATE GOVERNANCE COMMITMENT TO OPENNESS AND TRANSPARENCY Good Corporate Governance safeguards the sustainable development and performance of the company. Sika is committed to openness and transparency and provides information on structures and processes, areas of responsibility and decision proc
Slide 5: Corporate Governance: Compliant with Standards and Regulations
CORPORATE GOVERNANCE COMPLIANT WITH STANDARDS AND REGULATIONS Corporate Governance at Sika: ▪ Adheres to the SIX Swiss Exchange’s Directive on Information Relating to Corporate Governance ▪ Follows the principles of the Swiss Code of Best Practice for Corporate Governance ▪ Aligned with various inte
Slide 6: Corporate Governance Framework
CORPORATE GOVERNANCE FRAMEWORK STRUCTURES AND RESPONSIBILITIES ARTICLES OF ASSOCIATION CODE OF CONDUCT VALUES & PRINCIPLES ORGANIZATIONAL RULES ANNUAL GENERAL MEETING BOARD OF DIRECTORS CEO ASIA/PACIFIC EMEA AMERICAS GLOBAL BUSINESS FINANCE CONSTRUCTION TECHNOLOGY INDUSTRY HR & COMPLIANCE LEGAL PROC
Slide 7: Code of Conduct
CODE OF CONDUCT INTEGRITY AND ETHICAL CONDUCT ARE PART OF THE SIKA CULTURE ▪ Available in 42 languages ▪ Directly linked to Sika’s Values and Principles ▪ Read and signed by every new employee ▪ Commitment renewed bi-annually by Sika Senior Management ▪ Anonymous reporting system, Sika Trust Line, i
Slide 8: Board Composition and Succession Planning
BOARD RESPONSIBILITIES BOARD COMPOSITION AND SUCCESSION PLANNING The Nomination and Compensation Committee (NCC) holds the responsibility for the succession planning. The duties of NCC includes: ▪ Identification and assessment of potential candidates to positions on the Board based on predefined cri
Slide 9: Board Composition and Succession Planning
BOARD RESPONSIBILITIES BOARD COMPOSITION AND SUCCESSION PLANNING The composition of the Board of Directors should represent the necessary skills, qualifications, and diversity to be able to perform the required duties. The Board skills matrix is used as a tool to evaluate existing and potential Boar
Slide 10: Board Responsibilities: Risk Management
BOARD RESPONSIBILITIES RISK MANAGEMENT ▪ All risks are assessed in terms of a few basic questions: − Is the risk global or regional in scope? − What implications does the risk have for the Group? − How high is the probability of losses occurring? − What measures need to be implemented to prevent the
Slide 11: Risk Management Along the Entire Value Chain
RISK MANAGEMENT RISK MANAGEMENT ALONG THE ENTIRE VALUE CHAIN Sika pursues a risk-based management approach along the entire value chain, from procurement and production, to marketing. Environmental, social and governance risks are considered at all stages of the value chain. Supplier management and
Slide 12: Risk Management Along the Entire Value Chain
RISK MANAGEMENT RISK MANAGEMENT ALONG THE ENTIRE VALUE CHAIN Product development and marketing For products and services, Sika implements a structured product development process that factors in potential risks. The Group monitors ecological and safety aspects during the development, production, and
Slide 13: Risk Management Along the Entire Value Chain
RISK MANAGEMENT RISK MANAGEMENT ALONG THE ENTIRE VALUE CHAIN Financial Risk Prudent balance sheet policy. A strong investment grade rating is of high importance. The aim is to hold an A- Standard & Poor’s rating. Reputational Risk The Sika Code of Conduct as well as Sika’s Values and Principles are
Slide 14: Capital Allocation for Sustainable Growth
BOARD RESPONSABILITIES CAPITAL ALLOCATION FOR SUSTAINABLE GROWTH The strategic planning of capital allocation aims to ensure the sustainable growth of Sika. It is a well-balanced approach which considers the interests of all stakeholders and all drivers for growth and profitability. ▪ Investments in
Slide 15: Reliable, Continuous Dividend Payout
CAPITAL ALLOCATION RELIABLE, CONTINUOUS DIVIDEND PAYOUT Sika’s growth strategy is sustainable. Sales and profits have continuously increased. Shareholders benefit as Sika has been able to raise the dividend year after year. Consistent dividend payout is a sign of the reliability of the company. 2013
Slide 16: Strong Corporate Culture
STRONG CORPORATE CULTURE ® BUILDING TRUST Bs
Slide 17: Sika's Values and Principles
STRONG CORPORATE CULTURE SIKA’S VALUES AND PRINCIPLES ▪ Customer first ▪ Courage for innovation ▪ Sustainability & integrity ▪ Empowerment and respect ▪ Manage for results Sika’s Values and Principles are the foundation for the Code of Conduct. They are put into action through strong leadership and
Slide 18: Values and Principles: Customer First
VALUES AND PRINCIPLES CUSTOMER FIRST ◼ Listen to customers, understand their needs and provide them with solutions that give them a real advantage – keep customers’ success in mind ◼ Provide and maintain highest quality standards ◼ Build long-lasting and mutually beneficial relationships ◼ Provide p
Slide 19: Values and Principles: Courage for Innovation
VALUES AND PRINCIPLES COURAGE FOR INNOVATION ▪ Sustainability is an integral part of the innovation process and development of new products ▪ Innovation management with focus on the Sika Product Creation Process ▪ Close alignment with customer and market needs ▪ Actively challenge and accept being c
Slide 20: Values and Principles: Sustainability & Integrity
VALUES AND PRINCIPLES SUSTAINABILITY & INTEGRITY ▪ Comply with Sika’s Code of Conduct ▪ Consider “More Value – Less Impact” as a guiding rule in daily business ▪ Act with respect and responsibility towards customers, employees, and other stakeholders ▪ Operate with strong focus on safety, quality, e
Slide 21: Values and Principles: Empowerment & Respect
VALUES AND PRINCIPLES EMPOWERMENT & RESPECT ▪ Decentralized, flat organization, decision power delegated as close to the customer as possible ▪ Believe in the competence and entrepreneurial spirit of employees ▪ Train and develop local people. Mainly local nationals running country organizations. ▪
Slide 22: Values and Principles: Manage for Results
VALUES AND PRINCIPLES MANAGE FOR RESULTS ▪ Aim for success, outstanding results and outperformance ▪ Pursue vision and targets with long-term view ▪ Functions and projects are clearly assigned, clear accountability ▪ Transparent performance management focused on well-defined KPIs ▪ Benchmarking/Best
Slide 23: High Employee Loyalty and Engagement
STRONG CORPORATE CULTURE HIGH EMPLOYEE LOYALTY AND ENGAGEMENT ▪ Sika Senior Management roles are normally filled in-house or with managers joining from acquisitions ▪ The long-term employee prospects and the corporate culture are among the reasons behind Sika’s low employee turnover of 6.0% in 2019
Slide 24: Global Employee Survey Confirms Loyalty and Engagement
STRONG CORPORATE CULTURE GLOBAL EMPLOYEE SURVEY CONFIRMS LOYALTY AND ENGAGEMENT Group-wide employee survey conducted in 2019 with a response rate of 78% (14,600 employees). The overall result of the survey showed an extremely high engagement rate with 86 index points out of 100 HIGHLIGHTS EMPLOYEE S
Slide 25: Global but Local: Sika Strategy and Decentralized Implementation
GLOBAL BUT LOCAL THE SIKA STRATEGY AND ITS DECENTRALIZED IMPLEMENTATION 8 8 25
Slide 26: Diversity: One of Sika's Success Factors
DIVERSITY ONE OF SIKA’S SUCCESS FACTORS SIKA FIRMLY BELIEVES THAT THE DIVERSITY AMONG OUR EMPLOYEES IS ONE OF THE FACTORS OF ITS SUCCESS Ensuring equal opportunities with Proportion of women 49 nationalities various initiatives across the world 23.0% among Senior Managers Global presence and associa
Slide 27: Gender Diversity: Distribution of Women in Sika
GENDER DIVERSITY DISTRIBUTION OF WOMEN IN SIKA Representation of women in total work force: 23.0% Representation of women according to level Representation of women according to function Above-average Below-average Senior Management 9.2% representation of women representation of women Research & Dev
Slide 28: Gender Diversity: Examples of Initiatives
GENDER DIVERSITY ATTRACT, RETAIN AND PROMOTE – EXAMPLES OF INITIATIVES Attract Retain Promote ▪ Employer Value Campaign: ▪ LATAM: programs for talented ▪ Talent list: strong focus on employee testimonials featuring women working in finance and gender diversity on Sika’s talent women in management an
Slide 29: Sika Is Committed to Sustainability
SIKA IS COMMITTED TO SUSTAINABILITY
Slide 30: Sustainable, Profitable Growth
SIKA IS COMMITTED TO SUSTAINABILITY SUSTAINABLE, PROFITABLE GROWTH ▪ As a successful global corporation, Sika is committed to sustainability ▪ The company honors its responsibilities by offering sustainable solutions for energy- efficient construction and environmentally friendly vehicles, as well a
Slide 31: Sustainable, Profitable Growth
SIKA IS COMMITTED TO SUSTAINABILITY SUSTAINABLE, PROFITABLE GROWTH Very low CO2 emissions: Strong corporate culture 27kg per ton sold in 2019 with extremely high engagement rate and (Scope 1&2) low employee fluctuation Significant contribution to a more sustainable Strong local engagement as well as
Slide 32: Sustainability Has Been in Focus for a Long Time
SIKA IS COMMITTED TO SUSTAINABILITY SUSTAINABILITY HAS BEEN IN FOCUS FOR A LONG TIME ▪ CDP (Carbon Disclosure Project) disclosure since 2007 ▪ Member of UN Global Compact since 2009 ▪ Member of the World Business Council for Sustainable Development since 2010 ▪ «More Value – Less Impact» Strategy de
Slide 33: Governance: Leadership and Responsibilities
GOVERNANCE LEADERSHIP AND RESPONSIBILITIES Board of Directors STRATEGIC LEADERSHIP Internal Sustainability Committee Strategic Steering Decision Authority regarding business requirements OPERATIONAL LEADERSHIP Regional and Local SUPPORT / SUPERVISION Corporate Communications & Planning and running o
Slide 34: Sika's Growth Strategy 2023: Pillars of the Strategy
SIKA’S GROWTH STRATEGY 2023 THE PILLARS OF THE STRATEGY SUSTAINABILITY Market Penetration 6-8% annual growth 15-18% EBIT margin Until 2020: <15% Innovation Operational Efficiency 25% of sales with new >10% products Operating free cash flow per year as % of net sales Acquisitions 0.5% >25% pts non-ma
Slide 35: Sustainability Targets 2023
SUSTAINABILITY AS A BASIC PRINCIPLE OF THE STRATEGY SUSTAINABILITY TARGETS 2023 ▪ Overall target: 12% CO2 emission reduction per ton sold ▪ Our «More Value – Less Impact» targets SUSTAINABLE SOLUTIONS CLIMATE PERFORMANCE ▪ All new product developments with “Sustainable ▪ 12% reduction of CO2-emissio
Slide 36: Innovation – More Performance, More Sustainable
INNOVATION – INCREASED FOCUS ON PRODUCT SUSTAINABILITY MORE PERFORMANCE, MORE SUSTAINABLE PERFORMANCE 36
Slide 37: New Solutions: More Performance – More Sustainable
INNOVATION – INCREASED FOCUS ON PRODUCT SUSTAINABILITY NEW SOLUTIONS: MORE PERFORMANCE - MORE SUSTAINABLE HYDROFLEX SEALANTS NEW EPOXY FLOOR COATINGS HEMP BASED MORTARS Better stretchability, adhesion Improved blushing resistance, Thermal and phonic insulation and application properties significantl
Slide 38: High Emissions in the Building Industry
HIGH EMISSIONS IN THE BUILDING INDUSTRY CONSTRUCTION CHEMICALS ENABLING STRUCTURAL CHANGE Sika as enabler for companies to reduce CO2 emissions 800 kg CO2 per ton produced 700 600 500 Sika products ▪ drive CO2 footprint down 400 ▪ enable alternative materials 300 200 100 0 Sika Building material com
Slide 39: Strategic CO2 Target Leads to Climate Neutrality by 2050
CLIMATE PERFORMANCE STRATEGIC CO2 TARGET LEADS TO CLIMATE NEUTRALITY BY 2050 2019 2020 2023 2030 2050 27 kg CO2/tons sold - 12% - 50% CO2 neutral (Scope 1&2) In 2020 Sika concentrates on Scope 1 and 2 Internal CO2 footprint Scope 1 (direct) Scope 2 (indirect) ▪ Internal fossil fuel usage ▪ Purchased
Slide 40: Scope 1 & 2: Focus on Sustainability and Efficiency
MORE VALUE - LESS IMPACT SCOPE 1 & 2: FOCUS ON SUSTAINABILITY AND EFFICIENCY Global focus ▪ CO2 reduction: > 15,000 tons ▪ Energy reduction: -15% to -25% ▪ Expected savings: > CHF 5 million Sand Drying Membrane Production Compressed Air ▪ Processing of high-impact production processes ▪ Worldwide gu
Slide 41: High Impact of Sika Products on Sustainability
HIGH IMPACT OF SIKA PRODUCTS ON SUSTAINABILITY MORE PERFORMANCE, MORE SUSTAINABLE 70% of Sika products with a positive sustainability impact Climate Energy Resources Air Quality Health & Safety Green Building 41
Slide 42: Using Less Water, Concrete, and Cement with Sika Admixtures
SIKA OFFERS MANY SUSTAINABLE PRODUCTS AND SOLUTIONS USING LESS WATER, CONCRETE, AND CEMENT WITH SIKA ADMIXTURES HIGH-STRENGTH CONCRETE WITH CONCRETE ADMIXTURES Sika® ViscoCrete® REDUCES CONCRETE CONSUMPTION AS THINNER CONSTRUCTIONS ARE POSSIBLE Sika® ViscoCrete® TECHNOLOGY Sika® ViscoCrete® TECHNOLO
Slide 43: Sika Repair Solutions Prolong Lifetime of Structures
SIKA OFFERS MANY SUSTAINABLE PRODUCTS AND SOLUTIONS SIKA REPAIR SOLUTIONS PROLONG THE LIFETIME OF STRUCTURES SIKA SOLUTIONS FOR REPAIR AND REFURBISHMENT STRENGTHEN, WATERPROOF, INSULATE, PROTECT, AND REPAIR BUILDINGS AND STRUCTURES SIKA REPAIR SYSTEMS PROLONGS LIFETIME, INCREASE SAFETY AND ENERGY EF
Slide 44: Sika Waterproofing Systems Protecting and Saving Water
SIKA OFFERS MANY SUSTAINABLE PRODUCTS AND SOLUTIONS SIKA WATERPROOFING SYSTEMS PROTECTING AND SAVING WATER SIKA WATERPROOFING SYSTEMS PREVENT LEAKAGE AND CONTAMINATION OF DRINKING WATER IN WATER RESERVOIRS SIKA WATERPROOFING SYSTEMS RESISTANT TO AGGRESSIVE SUBSTANCES IN WASTE WATER TREATMENT PLANTS,
Slide 45: Energy-Saving, Durable Roofing Solutions
SIKA OFFERS MANY SUSTAINABLE PRODUCTS AND SOLUTIONS ENERGY-SAVING, DURABLE ROOFING SOLUTIONS SIKA SUPPLIES HIGHLY DURABLE, ROOT RESISTANT MEMBRANES FOR GREEN ROOFS ▪ REDUCE URBAN HEAT ISLAND EFFECT AND IMPROVE AIR QUALITY ▪ INSULATING QUALITIES LEAD TO ENERGY SAVINGS ▪ NOISE POLLUTION REDUCTION ▪ SU
Slide 46: Enabling Construction of Lightweight and Electric Vehicles
SIKA OFFERS MANY SUSTAINABLE PRODUCTS AND SOLUTIONS ENABLING CONSTRUCTION OF LIGHTWEIGHT AND ELECTRIC VEHICLES LIGHTWEIGHT VEHICLE CONSTRUCTION, SIKA HEAT-CONDUCTIVE ADHESIVES AND MATERIALS AS WELL AS FIRE PROTECTIVE COATINGS MULTI-MATERIAL DESIGN, AND ELECTRIC INCREASE SAFETY AND LONGEVITY VEHICLES
Slide 47: More Value – Less Impact: Successful Initiatives
SUSTAINABILITY STRATEGY “MORE VALUE – LESS IMPACT”– SUCCESSFUL INITIATIVES 60% of energy 3,000,000 m3 water saved in lighting by relamping saved by Sika USA with of factories and warehouses in closed-loop water circle EMEA in 5 years 68 Sustainability 92% Yield Champions trained in Sika 2,200 m3 dis
Slide 48: Focus on Eight UN SDGs
ALIGNMENT WITH UN SUSTAINABLE DEVELOPMENT GOALS FOCUS ON EIGHT UN SDGs GOOD HEALTH AND WELL-BEING QUALITY EDUCATION CLEAN WATER AND SANITATION DECENT WORK AND ECONOMIC GROWTH ▪ Solely use of raw materials that Internal ▪ Boost sustainability performance ▪ With its program "Sika Cares", the comply wi
Slide 49: Focus on Eight UN SDGs
ALIGNMENT WITH UN SUSTAINABLE DEVELOPMENT GOALS FOCUS ON EIGHT UN SDGs INDUSTRY, INNOVATION AND SUSTAINABLE CITIES AND RESPONSIBLE CONSUMPTION CLIMATE ACTION INFRASTRUCTURE COMMUNITIES AND PRODUCTION ▪ Megatrend Urbanization ▪ Each new product must ▪ Each new product must ▪ Sustainable innovations t
Slide 50: Social Responsibility
SOCIAL RESPONSIBILITY ® BUILDING TRUST Bs
Slide 51: Sika's Social Commitment
SIKA’S SOCIAL COMMITMENT BUILDING TRUST AND CREATING VALUE Community engagement as one of the six Sika Focus on three fields of activity: sustainability target areas ▪ Buildings and infrastructure ▪ Education and vocational training ▪ Water and climate protection In 86 schools 567 projects in China
Slide 52: Community Engagement at Sika: Sika Cares
COMMUNITY ENGAGEMENT AT SIKA SIKA CARES Name Structure Reporting and Communciations Sika Cares ▪ Centralized fund ▪ Internal Communications Sika’s Community Engagement program (no separate legal entity) ▪ External Communications ▪ Owner: CEO ▪ Trainings and Webinars Thematic Focus ▪ Managed by Corpo
Slide 53: Sika Cares: Identifying Stakeholders and Beneficiaries
SIKA CARES IDENTIFYING STAKEHOLDERS AND BENEFICIARIES Stakeholders Beneficiaries Every community engagement project is Direct beneficiaries participate directly in projects, and made up of a range of stakeholders. These benefit from its existence. can include: ▪ All persons who will be engaged in th
Slide 54: A New Home for the Langbos Children's Shelter
A NEW HOME FOR THE LANGBOS CHILDREN’S SHELTER PORT ELIZABETH, SOUTH AFRICA ABOUT THE PROJECT ▪ A new home was built for the Langbos Children’s Shelter situated near Port Elizabeth ▪ These children are either orphaned or come from unstable homes within the Langbos rural community ▪ The design of the
Slide 55: Improving the Quality of Education: Projekt Inspire, Tanzania
IMPROVING THE QUALITY OF EDUCATION PROJEKT INSPIRE, TANZANIA ABOUT THE PROJECT ▪ Sika Tanzania is supporting “ProjeKt Inspire”, a youth based and youth led initiative aiming at opening career options to younger generations ▪ ProjeKt Inspire aims to improve the quality of education through organizing
Slide 56: Broadening Student's Knowledge: Library Project, China
BROADENING STUDENT’S KNOWLEDGE AND HORIZON LIBRARY PROJECT, CHINA ABOUT THE PROJECT ▪ Sika China is cooperating with "Library Project", a non- profit charity organization ▪ The Library Project is a non-profit charity organization that donates books and libraries to under-financed schools and orphana
Slide 57: Improving the Life Quality of Children: Operation Smile
IMPROVING THE LIFE QUALITY OF CHILDREN OPERATION SMILE, THAILAND/VIETNAM ABOUT THE PROJECT ▪ Operation Smile is a nonprofit medical service organization founded in 1982 ▪ The organization works as a non-governmental organization to reduce the occurrence of cleft lips and palates worldwide ▪ Operatio
Slide 58: Preservation of Fresh Water Resources: South Africa
PRESERVATION OF FRESH WATER RESOURCES DRINKING WATER PROJECT, SOUTH AFRICA ABOUT THE PROJECT ▪ The aim of the project is to supply three villages in the Gumbi community in the north of the Somkhanda Game Reserve with clean drinking water ▪ Relief of the Somkhanda Game Reserve and its water sources.
Slide 59: Remuneration – Well-Balanced Compensation System
REMUNERATION – WELL-BALANCED COMPENSATION SYSTEM
Slide 60: Compensation Governance: Governance Principles
COMPENSATION GOVERNANCE: GOVERNANCE PRINCIPLES There are strong governance principles in place WE DO WE DON’T ✓ Conduct an annual review of the compensation policy and Provide discretionary compensation payments programs Reward inappropriate or excessive risk taking or short- ✓ Maintain compensa
Slide 61: Compensation Governance: Compensation Benchmarking
COMPENSATION GOVERNANCE: COMPENSATION BENCHMARKING Two peer groups are used for different benchmarking purposes in the context of compensation: Swiss listed companies of similar size to Sika in terms of Industrials international companies exposed to similar market market capitalization, revenue and
Slide 62: Compensation System of the Board of Directors
COMPENSATION SYSTEM OF THE BOARD OF DIRECTORS To strengthen their independence, members of the Board of Directors receive fixed compensation only, paid in cash and shares restricted for three years Annual board retainer + Annual committee fees 50% in cash - 50% in restricted shares In cash Board cha
Slide 63: Compensation System of the Group Management
COMPENSATION SYSTEM OF THE GROUP MANAGEMENT The compensation system is well-balanced and unique in terms of performance measurement (high proportion of STI and LTI based on performance relative to peers) Performance Time horizon Vehicle Mitigators measurement • Cap on Long-term Absolute + 1 2 3 Equi
Slide 64: Total Compensation Approach
TOTAL COMPENSATION APPROACH ▪ Compensation decisions are made on the basis of a total compensation approach where target compensation is paid for target performance ▪ Target compensation is benchmarked against the market median LTI (target) ▪ Outperformance results in above-median compensation due t
Slide 65: Compensation Mix
COMPENSATION MIX The compensation system aligns pay with performance without incentivizing excessive risk taking or encouraging unintended behaviors Pay-for-performance Mitigators Cap on incentives (maximum potential at 150% of target) Claw-back and malus provisions in case of fraudulent behavior or
Slide 66: Short-Term Incentive
SHORT-TERM INCENTIVE The short-term incentive is an annual cash incentive plan rewarding for company and individual performance, which has been successfully in place since 2011 STI STI Payout = x payout target factor Maximum payout factor = 150% Group performance + Individual performance 60% 40% Top
Slide 67: Long-Term Incentive
LONG-TERM INCENTIVE Our long-term incentive is a Performance Share Unit (PSU) plan with 3-year cliff vesting conditional upon ROCE and relative TSR performance LTI PSU Vesting = x vesting granted level Maximum vesting level = 150% Relative TSR + ROCE 50% 50% Relative Absolute 67
Slide 68: Long-Term Incentive: Performance Measurement
LONG-TERM INCENTIVE: PERFORMANCE MEASUREMENT Same approach as in the STI: realistic objective setting and a fair payout formula should align pay and performance and motivate executives to perform outstandingly Payout curve for relative TSR Payout curve for ROCE No vesting below threshold performance
Slide 69: Summary
SUMMARY The Board of Directors is convinced that the current compensation system is appropriate for Sika Compensation of the Board of Directors The compensation system of the Board of Directors strengthens their independence and is aligned with prevalent market practice in Switzerland Governance The
Slide 70: Thank You for Your Attention
THANK YOU FOR YOUR ATTENTION ® BUILDING TRUST viN
Slide 71: Forward-Looking Statement
FORWARD-LOOKING STATEMENT This presentation contains certain forward-looking statements. These forward-looking statements may be identified by words such as ‘expects’, ‘believes’, ‘estimates’, ‘anticipates’, ‘projects’, ‘intends’, ‘should’, ‘seeks’, ‘future’ or similar expressions or by discussion o