last year. We are witnessing a profound shift in communication between companies and shareholders—a shift to more regular, candid, behind-the-scenes conversations. We are also seeing investors exert more

and lower operating rates in several fiber manufacturing units. As all of these set of issues are now behind us, improved earnings from the EMEA region will have a further positive earnings impact for

restructuring Value behind debt restructuring Asset value / interests accepted transfer Loss from debt restructuring Transferring asset for payment xx xxxx - xxxx xxxx Transferring interests for payment xx xxxx

comparative period, as follow: Category of debt restructuring Number Book value prior to debt restructuring Value behind debt restructuring Asset value/ interests accepted transfer Loss from debt restructuring

disclose detail for the current period and comparative period, as follow: Category of debt restructuring Number Book value prior to debt restructuring Value behind debt restructuring Asset value/ interests

Document that captures the various dialogues and inputs and substantiates the reasoning behind the requirements set in the Forestry Criteria. The Criteria are developed through a consultative process with

benchmarked. In addition, the KPIs’ definition, the rationale behind their selection and the calculation methodologies and perimeter of reporting are defined in the Framework and in internal documentation

or quantitative explanation of the contribution of the main factors, including M&A activities, behind the evolution of the performance/KPI on an annual basis; illustration of the positive

core SDG objective of ‘leaving no-one behind’) 2.2.1.4 taking into account uncertainty when it is unable to quantify outcomes, recognizing that measurement in direct operations, supply and value chains

Alpha, Beta, and Now…Gamma David Blanchett, CFA, CFP® Head of Retirement Research Morningstar Investment Management Paul Kaplan, Ph.D., CFA Director of Research Morningstar Canada August 28, 2013 Morningstar Investment Management Page 2 of 27©2013 Morningstar. All rights reserved. This document includes proprietary material of Morningstar. Reproduction, transcription or other use, by any means, in whole or in part, without the prior written consent of Morningstar is prohibited. The Morningstar I...