The Path Forward

Concrete Actions Taken to Reduce Pension Deficit and Manage Future Risk Profile Interest Rate Sensitivity • Discount rate of 3.0% at January 1, 2013, compared to 4.5% at five years previous and 6.2% at ten years previous • Increase of 1% in discount rate causes a decrease of $2.0B in solvency liabilities STRONGER BALANCE SHEET 2013 INVESTOR DAY 20 20

View entire presentation