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Macro Trends and Industry Impacts2021AvN xMExv 2 Exv I 5 H WGH8 11 A-D12 A 18 A AvI19 I 19 -E 2 A:WA?26 I:WDIME? 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IA2020FkA212020 :/ / -/2020/04/2020-IA-Fk-FINAL_- 128 k-R q 144 :Dv k v 145 IJ2020 NI (260) I IBjk- vxv- q -kIPk vk NLYIWHHO? v Akv q -v-jk v -v k xkR AVRjVjH R ELBGM92020 :/ /2020/- -x 152 DvGHkvkPGPBMPJ222019 :/ /019564/-v-kv-k- 15 FYkH BMPNkkARv M142020 :/kk/H -k /H - - - 154 DH 5GDPT JJ212020 :/ j/ -11592740800k x1218v 155 AIA(IA): B U. p U.p. -U.ppx 70% .O x ,U.p 8p p 16% , U. w L . , Kwk k U.w w; p . 156 Rkv R xF Gv v M- k -v WM2020BG(BG) -v - v BG 160 155 DWWkBGvkNv12019 :/vk/ k- 156 AVRjVjH R ELBGM92020 :/ /2020/- -x 157 IA2020FkA212020 :/ / -/2020/04/2020-IA-Fk-FINAL_- 158 IA k01 159 IA2020FkA212020 :/ / -/2020/04/2020-IA-Fk-FINAL_- 160 BG -v KJv$818%124000jBG xv v R 0%40%vv10%; 2018x 16 BG R ; ; kv 176 vk- v - kA v:vv v-v- jk v14% 2019 177 A F4-1j 20% k ( 15%)20% 16%14% 4G b Opb ,208* PD I R yR B k AF4-2 j x v10%R x v 42I dPd GI p,2005205 PD lI p:F lI p:F RWl 9 :OEDV-A 178 OEDxk GVk xvvx x kvx x xv x xOED GVIM201 :/Ixx?D=GV_INDIAOR 179 DAvGV v-KDBkMMGVOEDD19201 :/ -/v/5kv14-?x=1587507255 ;Rvvk kvBkv - x 196 BEA 197 KPMG I:ELO9201 :/k/k/201/10/-I-20110 198 OxEIA(IA)GI:G AOW M201924 :/ x/-/- -.RR W v $250v v ($4 )($16)(v$22 2017)($200v2018) v$122018 199 O141j 44 200 4-101 b 4” IdI p 2018vD g V f f T g f f T g f f IRERv 16764 521% 68% O 97444 14% 57% F 611 619% 06% DPPIk 6728 611% 9% EOPP 15655 844% 89% WxP 595 644% 96% AMGE 622 954% 11% ExvP 570 55% 21% PG 278 49% 08% MP 17277 520% 61% :BEARRHGH(H)28-8xEv -2019O 01x A 201 I : vI q Ev v xkx vq Ajv OvA - 199 AAAIREx:JLEHO2018 :/ /P/A-A-I-R-Ex- 200 I 201 AFAI01M252018 :/ /P/F-A-I-01-MR RYR RI v v kR v x- v x Iv PI2018 WO1585 202 -v vv v(q)IO2018A I-x$61; x j$16 20 v vvvB - APv Avxk I x $108 x5%25% 204 v jA8000j 205 v F46000 jI55000j$18vk 206 :R WA 2018 -( 2019)k Wx :x; j jj j I 207 202 PIIEHGL IJ EvEJ2019 :/ /-v- /- -j- 20 AAAIREx:JLEHO172018 :/ /P/A-A-I-R-Ex- 204 I 205 I 206 I 207 5%25% -POF2020B1%x j 2018( A ) 208 IxA k 2019B -2019 j2018F x A4-2 A2019x11 Fkxk 2%x 100%vH v 9%x95%j b 42 xpbj”209( d) D2018v Ex Ex Ex bj T f Ex bj T f Ex bj T IRE Rv 10 125 10 97% 8% O* 9 40 7 95% 9% F 00 42 00 100% 1% DPPIk 05 80 05 100% 6% EOP P 1 16 1 100% 10% WxP 09 7 09 100% 12% AM GE 05 6 05 100% 14% ExvP 00 08 00 100% 5% PG 06 22 05 90% 24% M 8 0 12 1% 4% PP 71 666 0 4% 5% b : * 126 1227 62 49% 5% T 196 1893 127 65% 7% :MOFOMxxjv *H28-8PH9x *x2018 208 D vvx9 Oxj (-2019) 209 Wv j 4-v$102 26000j( )$8100000jk qk b 43 dI p ”(209) dP Id d 2018v bRk L (B ) L O (B ) T Rv I R N Rv E R L Rv I R N Rv E R L Rv I R N Rv E R L D ( ) 916 14864 04 1 29 110 () 10889 4155 09 2 8 141 - g 11097 42141 05 22 18 69 T 25,902 98,360 18 67 85 32 :BEAFRvAv2018 INPIONWHDOIMNOHONOMY? jv 210 ; 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