Investor Presentaiton

FINANCE Return on invested capital Targeting returns above cost of capital through the cycle MOVING TO ROIC AS THE GROUP'S PRIMARY FINANCIAL RETURN MEASURE FROM FY15 ROIC is the primary financial return measure, used in conjunction with strategic measures as part of a balanced Group scorecard . • • Uniform performance measure across reporting segments Holistic measure treats owned and leased assets equally Targeted returns are through-cycle averages, allowing for cyclical industry Statutory Measure ROIC Measure Statutory EBIT + Rentals - Notional depreciation + Items outside of underlying = ROIC EBIT ROIC EBIT Invested Capital¹ Group ROIC ROIC ABOVE 10% ENSURES GROUP OBJECTIVE OF DELIVERING ROIC > WACC THROUGH THE CYCLE 1. Refer to appendix for definition. 25 25

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