%PDF-1.5 1 0 obj <> endobj 3 0 obj <> endobj 4 0 obj <> stream /GS0 gs q 172.00 0 0 107.00 220.00 497.65 cm /I1 Do Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 36.00 Tf ET q 0 0 0 rg BT 158.00 407.05 Td (MANAGEMENTS ) Tj ET Q BT /F2 36.00 Tf ET q 0 0 0 rg BT 56.95 354.85 Td (DISCUSSION ) Tj ET Q q 0 0 0 rg BT 289.65 354.85 Td (AND ) Tj ET Q q 0 0 0 rg BT 376.31 354.85 Td (ANAL) Tj ET Q q 0 0 0 rg BT 472.99 354.85 Td (YSIS) Tj ET Q BT /F2 36.00 Tf ET q 0 0 0 rg BT 141.60 258.45 Td (FISCAL) Tj ET Q q 0 0 0 rg BT 270.94 258.45 Td ( ) Tj ET Q q 0 0 0 rg BT 280.29 258.45 Td (YEAR ) Tj ET Q BT /F2 36.00 Tf ET q 0 0 0 rg BT 390.31 258.45 Td (2016) Tj ET Q BT /F2 36.00 Tf ET q 0 0 0 rg BT 470.40 258.45 Td ( ) Tj ET Q endstream endobj 5 0 obj <> endobj 6 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 554.85 22.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 72.00 708.95 Td (November9, ) Tj ET Q q 0 0 0 rg BT 128.52 708.95 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 148.54 708.95 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 72.00 671.15 Td (Basis ) Tj ET Q q 0 0 0 rg BT 107.36 671.15 Td (of ) Tj ET Q q 0 0 0 rg BT 122.02 671.15 Td (Presentation) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 651.65 Td (This ) Tj ET Q q 0 0 0 rg BT 90.83 651.65 Td (Management) Tj ET Q q 0 0 0 rg BT 145.20 651.65 Td (s ) Tj ET Q q 0 0 0 rg BT 151.54 651.65 Td (Discussion ) Tj ET Q q 0 0 0 rg BT 196.88 651.65 Td (and ) Tj ET Q q 0 0 0 rg BT 213.37 651.65 Td (Analysis ) Tj ET Q q 0 0 0 rg BT 248.71 651.65 Td (of ) Tj ET Q q 0 0 0 rg BT 258.05 651.65 Td (the ) Tj ET Q q 0 0 0 rg BT 272.40 651.65 Td (Financial ) Tj ET Q q 0 0 0 rg BT 310.25 651.65 Td (Position ) Tj ET Q q 0 0 0 rg BT 344.10 651.65 Td (and ) Tj ET Q q 0 0 0 rg BT 360.95 651.65 Td (Results ) Tj ET Q q 0 0 0 rg BT 392.79 651.65 Td (of ) Tj ET Q q 0 0 0 rg BT 402.13 651.65 Td (Operations ) Tj ET Q q 0 0 0 rg BT 447.98 651.65 Td (\(MD&A\) ) Tj ET Q q 0 0 0 rg BT 487.81 651.65 Td (is ) Tj ET Q q 0 0 0 rg BT 496.14 651.65 Td (the ) Tj ET Q q 0 0 0 rg BT 510.48 651.65 Td (responsibility ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 638.15 Td (of ) Tj ET Q q 0 0 0 rg BT 81.29 638.15 Td (management ) Tj ET Q q 0 0 0 rg BT 135.60 638.15 Td (and ) Tj ET Q q 0 0 0 rg BT 152.40 638.15 Td (has ) Tj ET Q q 0 0 0 rg BT 168.69 638.15 Td (been ) Tj ET Q q 0 0 0 rg BT 190.49 638.15 Td (reviewed ) Tj ET Q q 0 0 0 rg BT 228.29 638.15 Td (and ) Tj ET Q q 0 0 0 rg BT 245.08 638.15 Td (approved ) Tj ET Q q 0 0 0 rg BT 284.39 638.15 Td (by ) Tj ET Q q 0 0 0 rg BT 295.68 638.15 Td (the ) Tj ET Q q 0 0 0 rg BT 309.97 638.15 Td (Board ) Tj ET Q q 0 0 0 rg BT 335.77 638.15 Td (of ) Tj ET Q q 0 0 0 rg BT 345.05 638.15 Td (Directors. ) Tj ET Q q 0 0 0 rg BT 385.22 638.15 Td (This ) Tj ET Q q 0 0 0 rg BT 404.00 638.15 Td (MD&A) Tj ET Q q 0 0 0 rg BT 429.51 638.15 Td ( ) Tj ET Q q 0 0 0 rg BT 431.29 638.15 Td (has ) Tj ET Q q 0 0 0 rg BT 447.58 638.15 Td (been ) Tj ET Q q 0 0 0 rg BT 469.38 638.15 Td (prepared ) Tj ET Q q 0 0 0 rg BT 507.19 638.15 Td (in ) Tj ET Q q 0 0 0 rg BT 515.97 638.15 Td (accordance ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 624.65 Td (with ) Tj ET Q q 0 0 0 rg BT 89.87 624.65 Td (the ) Tj ET Q q 0 0 0 rg BT 104.24 624.65 Td (requirements ) Tj ET Q q 0 0 0 rg BT 158.63 624.65 Td (of ) Tj ET Q q 0 0 0 rg BT 167.99 624.65 Td (the ) Tj ET Q q 0 0 0 rg BT 182.37 624.65 Td (Canadian ) Tj ET Q q 0 0 0 rg BT 222.76 624.65 Td (Securities ) Tj ET Q q 0 0 0 rg BT 263.77 624.65 Td (Administrators. ) Tj ET Q q 0 0 0 rg BT 325.52 624.65 Td (The ) Tj ET Q q 0 0 0 rg BT 342.89 624.65 Td (Board ) Tj ET Q q 0 0 0 rg BT 368.77 624.65 Td (of ) Tj ET Q q 0 0 0 rg BT 378.14 624.65 Td (Directors ) Tj ET Q q 0 0 0 rg BT 416.01 624.65 Td (is ) Tj ET Q q 0 0 0 rg BT 424.37 624.65 Td (ultimately ) Tj ET Q q 0 0 0 rg BT 464.24 624.65 Td (responsible ) Tj ET Q q 0 0 0 rg BT 512.13 624.65 Td (for ) Tj ET Q q 0 0 0 rg BT 524.50 624.65 Td (reviewing ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 611.15 Td (and ) Tj ET Q q 0 0 0 rg BT 89.00 611.15 Td (approving ) Tj ET Q q 0 0 0 rg BT 130.52 611.15 Td (the ) Tj ET Q q 0 0 0 rg BT 145.02 611.15 Td (MD&A. ) Tj ET Q q 0 0 0 rg BT 175.38 611.15 Td (The ) Tj ET Q q 0 0 0 rg BT 192.88 611.15 Td (Board ) Tj ET Q q 0 0 0 rg BT 218.89 611.15 Td (of ) Tj ET Q q 0 0 0 rg BT 228.38 611.15 Td (Directors ) Tj ET Q q 0 0 0 rg BT 266.37 611.15 Td (carries ) Tj ET Q q 0 0 0 rg BT 295.37 611.15 Td (out ) Tj ET Q q 0 0 0 rg BT 309.87 611.15 Td (this ) Tj ET Q q 0 0 0 rg BT 325.86 611.15 Td (responsibility ) Tj ET Q q 0 0 0 rg BT 379.87 611.15 Td (mainly ) Tj ET Q q 0 0 0 rg BT 407.87 611.15 Td (through ) Tj ET Q q 0 0 0 rg BT 440.38 611.15 Td (its ) Tj ET Q q 0 0 0 rg BT 450.98 611.15 Td (Audit ) Tj ET Q q 0 0 0 rg BT 473.48 611.15 Td (and ) Tj ET Q q 0 0 0 rg BT 490.48 611.15 Td (Risk ) Tj ET Q q 0 0 0 rg BT 509.97 611.15 Td (Management ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 597.65 Td (Committee, ) Tj ET Q q 0 0 0 rg BT 121.26 597.65 Td (which ) Tj ET Q q 0 0 0 rg BT 147.52 597.65 Td (is ) Tj ET Q q 0 0 0 rg BT 157.27 597.65 Td (appointed ) Tj ET Q q 0 0 0 rg BT 200.06 597.65 Td (by ) Tj ET Q q 0 0 0 rg BT 212.81 597.65 Td (the ) Tj ET Q q 0 0 0 rg BT 228.57 597.65 Td (Board ) Tj ET Q q 0 0 0 rg BT 255.84 597.65 Td (of ) Tj ET Q q 0 0 0 rg BT 266.60 597.65 Td (Directors ) Tj ET Q q 0 0 0 rg BT 305.85 597.65 Td (and ) Tj ET Q q 0 0 0 rg BT 324.12 597.65 Td (is ) Tj ET Q q 0 0 0 rg BT 333.87 597.65 Td (comprised ) Tj ET Q q 0 0 0 rg BT 378.63 597.65 Td (entirely ) Tj ET Q q 0 0 0 rg BT 410.89 597.65 Td (of ) Tj ET Q q 0 0 0 rg BT 421.65 597.65 Td (independent ) Tj ET Q q 0 0 0 rg BT 474.45 597.65 Td (and ) Tj ET Q q 0 0 0 rg BT 492.71 597.65 Td (financially ) Tj ET Q q 0 0 0 rg BT 535.48 597.65 Td (literate ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 584.15 Td (directors. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 564.65 Td (Throughout ) Tj ET Q q 0 0 0 rg BT 120.17 564.65 Td (this ) Tj ET Q q 0 0 0 rg BT 136.31 564.65 Td (document, ) Tj ET Q q 0 0 0 rg BT 180.48 564.65 Td (CGI ) Tj ET Q q 0 0 0 rg BT 198.61 564.65 Td (Group ) Tj ET Q q 0 0 0 rg BT 225.77 564.65 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 242.41 564.65 Td (is ) Tj ET Q q 0 0 0 rg BT 251.05 564.65 Td (referred ) Tj ET Q q 0 0 0 rg BT 284.70 564.65 Td (to ) Tj ET Q q 0 0 0 rg BT 294.34 564.65 Td (as ) Tj ET Q q 0 0 0 rg BT 305.98 564.65 Td (CGI, ) Tj ET Q q 0 0 0 rg BT 332.62 564.65 Td (we, ) Tj ET Q q 0 0 0 rg BT 354.75 564.65 Td (our ) Tj ET Q q 0 0 0 rg BT 375.89 564.65 Td (or ) Tj ET Q q 0 0 0 rg BT 386.03 564.65 Td (Company. ) Tj ET Q q 0 0 0 rg BT 435.05 564.65 Td (This ) Tj ET Q q 0 0 0 rg BT 454.19 564.65 Td (MD&A) Tj ET Q q 0 0 0 rg BT 479.69 564.65 Td ( ) Tj ET Q q 0 0 0 rg BT 481.83 564.65 Td (provides ) Tj ET Q q 0 0 0 rg BT 517.99 564.65 Td (information ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 551.15 Td (management ) Tj ET Q q 0 0 0 rg BT 126.67 551.15 Td (believes ) Tj ET Q q 0 0 0 rg BT 161.83 551.15 Td (is ) Tj ET Q q 0 0 0 rg BT 170.47 551.15 Td (relevant ) Tj ET Q q 0 0 0 rg BT 204.62 551.15 Td (to ) Tj ET Q q 0 0 0 rg BT 214.27 551.15 Td (an ) Tj ET Q q 0 0 0 rg BT 226.41 551.15 Td (assessment ) Tj ET Q q 0 0 0 rg BT 276.57 551.15 Td (and ) Tj ET Q q 0 0 0 rg BT 293.72 551.15 Td (understanding ) Tj ET Q q 0 0 0 rg BT 352.91 551.15 Td (of ) Tj ET Q q 0 0 0 rg BT 362.55 551.15 Td (the ) Tj ET Q q 0 0 0 rg BT 377.20 551.15 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 429.87 551.15 Td (results ) Tj ET Q q 0 0 0 rg BT 458.52 551.15 Td (of ) Tj ET Q q 0 0 0 rg BT 468.16 551.15 Td (operations ) Tj ET Q q 0 0 0 rg BT 512.33 551.15 Td (and ) Tj ET Q q 0 0 0 rg BT 529.48 551.15 Td (financial ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 537.65 Td (condition ) Tj ET Q q 0 0 0 rg BT 110.84 537.65 Td (of ) Tj ET Q q 0 0 0 rg BT 121.17 537.65 Td (the ) Tj ET Q q 0 0 0 rg BT 136.49 537.65 Td (Company) Tj ET Q q 0 0 0 rg BT 174.34 537.65 Td (. ) Tj ET Q q 0 0 0 rg BT 179.48 537.65 Td (This ) Tj ET Q q 0 0 0 rg BT 199.30 537.65 Td (document ) Tj ET Q q 0 0 0 rg BT 241.64 537.65 Td (should ) Tj ET Q q 0 0 0 rg BT 270.98 537.65 Td (be ) Tj ET Q q 0 0 0 rg BT 283.80 537.65 Td (read ) Tj ET Q q 0 0 0 rg BT 304.63 537.65 Td (in ) Tj ET Q q 0 0 0 rg BT 314.46 537.65 Td (conjunction ) Tj ET Q q 0 0 0 rg BT 362.81 537.65 Td (with ) Tj ET Q q 0 0 0 rg BT 381.63 537.65 Td (the ) Tj ET Q q 0 0 0 rg BT 396.96 537.65 Td (audited ) Tj ET Q q 0 0 0 rg BT 429.30 537.65 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 482.65 537.65 Td (financial ) Tj ET Q q 0 0 0 rg BT 518.49 537.65 Td (statements ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 524.15 Td (and ) Tj ET Q q 0 0 0 rg BT 89.67 524.15 Td (the ) Tj ET Q q 0 0 0 rg BT 104.83 524.15 Td (notes ) Tj ET Q q 0 0 0 rg BT 129.50 524.15 Td (thereto ) Tj ET Q q 0 0 0 rg BT 160.17 524.15 Td (for ) Tj ET Q q 0 0 0 rg BT 173.32 524.15 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 188.48 524.15 Td (years ) Tj ET Q q 0 0 0 rg BT 213.14 524.15 Td (ended ) Tj ET Q q 0 0 0 rg BT 240.82 524.15 Td (September ) Tj ET Q q 0 0 0 rg BT 287.49 524.15 Td (30, ) Tj ET Q q 0 0 0 rg BT 302.66 524.15 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 322.68 524.15 Td ( ) Tj ET Q q 0 0 0 rg BT 325.33 524.15 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 343.00 524.15 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 363.02 524.15 Td (. ) Tj ET Q q 0 0 0 rg BT 368.17 524.15 Td (CGI) Tj ET Q q 0 0 0 rg BT 386.01 524.15 Td (s ) Tj ET Q q 0 0 0 rg BT 393.16 524.15 Td (accounting ) Tj ET Q q 0 0 0 rg BT 439.34 524.15 Td (policies ) Tj ET Q q 0 0 0 rg BT 472.01 524.15 Td (are ) Tj ET Q q 0 0 0 rg BT 487.66 524.15 Td (in ) Tj ET Q q 0 0 0 rg BT 497.32 524.15 Td (accordance ) Tj ET Q q 0 0 0 rg BT 546.50 524.15 Td (with ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 510.65 Td (International ) Tj ET Q q 0 0 0 rg BT 123.80 510.65 Td (Financial ) Tj ET Q q 0 0 0 rg BT 162.08 510.65 Td (Reporting ) Tj ET Q q 0 0 0 rg BT 203.36 510.65 Td (Standards ) Tj ET Q q 0 0 0 rg BT 246.65 510.65 Td (\(IFRS\) ) Tj ET Q q 0 0 0 rg BT 281.40 510.65 Td (as ) Tj ET Q q 0 0 0 rg BT 293.17 510.65 Td (issued ) Tj ET Q q 0 0 0 rg BT 321.44 510.65 Td (by ) Tj ET Q q 0 0 0 rg BT 333.21 510.65 Td (the ) Tj ET Q q 0 0 0 rg BT 347.98 510.65 Td (International ) Tj ET Q q 0 0 0 rg BT 399.33 510.65 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 446.12 510.65 Td (Standards ) Tj ET Q q 0 0 0 rg BT 489.41 510.65 Td (Board ) Tj ET Q q 0 0 0 rg BT 515.69 510.65 Td (\(IASB\). ) Tj ET Q q 0 0 0 rg BT 552.50 510.65 Td (All ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 497.15 Td (dollar ) Tj ET Q q 0 0 0 rg BT 96.51 497.15 Td (amounts ) Tj ET Q q 0 0 0 rg BT 133.53 497.15 Td (are ) Tj ET Q q 0 0 0 rg BT 149.04 497.15 Td (in ) Tj ET Q q 0 0 0 rg BT 158.55 497.15 Td (Canadian ) Tj ET Q q 0 0 0 rg BT 199.58 497.15 Td (dollars ) Tj ET Q q 0 0 0 rg BT 228.59 497.15 Td (unless ) Tj ET Q q 0 0 0 rg BT 257.11 497.15 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 298.13 497.15 Td (indicated.) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 72.00 459.95 Td (Materiality ) Tj ET Q q 0 0 0 rg BT 134.69 459.95 Td (of ) Tj ET Q q 0 0 0 rg BT 149.35 459.95 Td (Disclosures) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 440.45 Td (This ) Tj ET Q q 0 0 0 rg BT 91.73 440.45 Td (MD&A) Tj ET Q q 0 0 0 rg BT 117.23 440.45 Td ( ) Tj ET Q q 0 0 0 rg BT 119.96 440.45 Td (includes ) Tj ET Q q 0 0 0 rg BT 155.70 440.45 Td (information ) Tj ET Q q 0 0 0 rg BT 202.95 440.45 Td (we ) Tj ET Q q 0 0 0 rg BT 217.18 440.45 Td (believe ) Tj ET Q q 0 0 0 rg BT 248.42 440.45 Td (is ) Tj ET Q q 0 0 0 rg BT 257.64 440.45 Td (material ) Tj ET Q q 0 0 0 rg BT 292.38 440.45 Td (to ) Tj ET Q q 0 0 0 rg BT 302.61 440.45 Td (investors. ) Tj ET Q q 0 0 0 rg BT 343.85 440.45 Td (W) Tj ET Q q 0 0 0 rg BT 352.18 440.45 Td (e ) Tj ET Q q 0 0 0 rg BT 359.91 440.45 Td (consider ) Tj ET Q q 0 0 0 rg BT 396.65 440.45 Td (something ) Tj ET Q q 0 0 0 rg BT 440.90 440.45 Td (to ) Tj ET Q q 0 0 0 rg BT 451.13 440.45 Td (be ) Tj ET Q q 0 0 0 rg BT 463.86 440.45 Td (material ) Tj ET Q q 0 0 0 rg BT 498.60 440.45 Td (if ) Tj ET Q q 0 0 0 rg BT 505.82 440.45 Td (it ) Tj ET Q q 0 0 0 rg BT 513.04 440.45 Td (results ) Tj ET Q q 0 0 0 rg BT 542.28 440.45 Td (in, ) Tj ET Q q 0 0 0 rg BT 554.51 440.45 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 426.95 Td (would ) Tj ET Q q 0 0 0 rg BT 97.94 426.95 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 144.40 426.95 Td (be ) Tj ET Q q 0 0 0 rg BT 156.84 426.95 Td (expected ) Tj ET Q q 0 0 0 rg BT 195.79 426.95 Td (to ) Tj ET Q q 0 0 0 rg BT 205.72 426.95 Td (result ) Tj ET Q q 0 0 0 rg BT 230.16 426.95 Td (in, ) Tj ET Q q 0 0 0 rg BT 242.09 426.95 Td (a ) Tj ET Q q 0 0 0 rg BT 249.52 426.95 Td (significant ) Tj ET Q q 0 0 0 rg BT 291.97 426.95 Td (change ) Tj ET Q q 0 0 0 rg BT 323.93 426.95 Td (in ) Tj ET Q q 0 0 0 rg BT 333.36 426.95 Td (the ) Tj ET Q q 0 0 0 rg BT 348.30 426.95 Td (market ) Tj ET Q q 0 0 0 rg BT 378.23 426.95 Td (price ) Tj ET Q q 0 0 0 rg BT 400.16 426.95 Td (or ) Tj ET Q q 0 0 0 rg BT 410.59 426.95 Td (value ) Tj ET Q q 0 0 0 rg BT 434.54 426.95 Td (of ) Tj ET Q q 0 0 0 rg BT 444.47 426.95 Td (our ) Tj ET Q q 0 0 0 rg BT 459.91 426.95 Td (shares, ) Tj ET Q q 0 0 0 rg BT 491.85 426.95 Td (or ) Tj ET Q q 0 0 0 rg BT 502.28 426.95 Td (if ) Tj ET Q q 0 0 0 rg BT 509.20 426.95 Td (it ) Tj ET Q q 0 0 0 rg BT 516.13 426.95 Td (is ) Tj ET Q q 0 0 0 rg BT 525.06 426.95 Td (likely ) Tj ET Q q 0 0 0 rg BT 547.49 426.95 Td (that ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 413.45 Td (a ) Tj ET Q q 0 0 0 rg BT 79.51 413.45 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 126.54 413.45 Td (investor ) Tj ET Q q 0 0 0 rg BT 160.55 413.45 Td (would ) Tj ET Q q 0 0 0 rg BT 186.57 413.45 Td (consider ) Tj ET Q q 0 0 0 rg BT 223.09 413.45 Td (the ) Tj ET Q q 0 0 0 rg BT 238.10 413.45 Td (information ) Tj ET Q q 0 0 0 rg BT 285.12 413.45 Td (to ) Tj ET Q q 0 0 0 rg BT 295.13 413.45 Td (be ) Tj ET Q q 0 0 0 rg BT 307.64 413.45 Td (important ) Tj ET Q q 0 0 0 rg BT 347.66 413.45 Td (in ) Tj ET Q q 0 0 0 rg BT 357.16 413.45 Td (making ) Tj ET Q q 0 0 0 rg BT 388.67 413.45 Td (an ) Tj ET Q q 0 0 0 rg BT 401.19 413.45 Td (investment ) Tj ET Q q 0 0 0 rg BT 447.21 413.45 Td (decision.) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 72.00 376.25 Td (Forward-Looking ) Tj ET Q q 0 0 0 rg BT 173.33 376.25 Td (Statements) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 356.75 Td (All ) Tj ET Q q 0 0 0 rg BT 83.81 356.75 Td (statements ) Tj ET Q q 0 0 0 rg BT 129.65 356.75 Td (in ) Tj ET Q q 0 0 0 rg BT 138.46 356.75 Td (this ) Tj ET Q q 0 0 0 rg BT 154.28 356.75 Td (MD&A) Tj ET Q q 0 0 0 rg BT 179.79 356.75 Td ( ) Tj ET Q q 0 0 0 rg BT 181.60 356.75 Td (that ) Tj ET Q q 0 0 0 rg BT 198.42 356.75 Td (do ) Tj ET Q q 0 0 0 rg BT 210.24 356.75 Td (not ) Tj ET Q q 0 0 0 rg BT 224.57 356.75 Td (directly ) Tj ET Q q 0 0 0 rg BT 254.89 356.75 Td (and ) Tj ET Q q 0 0 0 rg BT 271.72 356.75 Td (exclusively ) Tj ET Q q 0 0 0 rg BT 317.04 356.75 Td (relate ) Tj ET Q q 0 0 0 rg BT 341.37 356.75 Td (to ) Tj ET Q q 0 0 0 rg BT 350.69 356.75 Td (historical ) Tj ET Q q 0 0 0 rg BT 388.01 356.75 Td (facts ) Tj ET Q q 0 0 0 rg BT 408.83 356.75 Td (constitute ) Tj ET Q q 0 0 0 rg BT 449.16 356.75 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 515.50 356.75 Td (statements ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 343.25 Td (within ) Tj ET Q q 0 0 0 rg BT 97.55 343.25 Td (the ) Tj ET Q q 0 0 0 rg BT 112.59 343.25 Td (meaning ) Tj ET Q q 0 0 0 rg BT 149.65 343.25 Td (of ) Tj ET Q q 0 0 0 rg BT 159.69 343.25 Td (that ) Tj ET Q q 0 0 0 rg BT 177.24 343.25 Td (term ) Tj ET Q q 0 0 0 rg BT 197.78 343.25 Td (in ) Tj ET Q q 0 0 0 rg BT 207.32 343.25 Td (Section27A) Tj ET Q q 0 0 0 rg BT 255.36 343.25 Td ( ) Tj ET Q q 0 0 0 rg BT 257.89 343.25 Td (of ) Tj ET Q q 0 0 0 rg BT 267.93 343.25 Td (the ) Tj ET Q q 0 0 0 rg BT 282.98 343.25 Td (United ) Tj ET Q q 0 0 0 rg BT 311.53 343.25 Td (States ) Tj ET Q q 0 0 0 rg BT 339.58 343.25 Td (Securities ) Tj ET Q q 0 0 0 rg BT 381.13 343.25 Td (Act ) Tj ET Q q 0 0 0 rg BT 396.67 343.25 Td (of ) Tj ET Q q 0 0 0 rg BT 406.71 343.25 Td (1933, ) Tj ET Q q 0 0 0 rg BT 431.77 343.25 Td (as ) Tj ET Q q 0 0 0 rg BT 443.81 343.25 Td (amended, ) Tj ET Q q 0 0 0 rg BT 486.38 343.25 Td (and ) Tj ET Q q 0 0 0 rg BT 503.93 343.25 Td (Section21E ) Tj ET Q q 0 0 0 rg BT 555.00 343.25 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 329.75 Td (the ) Tj ET Q q 0 0 0 rg BT 87.31 329.75 Td (United ) Tj ET Q q 0 0 0 rg BT 116.13 329.75 Td (States ) Tj ET Q q 0 0 0 rg BT 144.44 329.75 Td (Securities ) Tj ET Q q 0 0 0 rg BT 186.76 329.75 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 229.03 329.75 Td (Act ) Tj ET Q q 0 0 0 rg BT 244.83 329.75 Td (of ) Tj ET Q q 0 0 0 rg BT 255.14 329.75 Td (1934, ) Tj ET Q q 0 0 0 rg BT 280.46 329.75 Td (as ) Tj ET Q q 0 0 0 rg BT 292.77 329.75 Td (amended, ) Tj ET Q q 0 0 0 rg BT 335.60 329.75 Td (and ) Tj ET Q q 0 0 0 rg BT 353.41 329.75 Td (are ) Tj ET Q q 0 0 0 rg BT 369.22 329.75 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 436.54 329.75 Td (information ) Tj ET Q q 0 0 0 rg BT 486.86 329.75 Td (within ) Tj ET Q q 0 0 0 rg BT 512.67 329.75 Td (the ) Tj ET Q q 0 0 0 rg BT 527.98 329.75 Td (meaning ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 316.25 Td (of ) Tj ET Q q 0 0 0 rg BT 81.11 316.25 Td (Canadian ) Tj ET Q q 0 0 0 rg BT 121.24 316.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 160.85 316.25 Td (laws. ) Tj ET Q q 0 0 0 rg BT 182.85 316.25 Td (These ) Tj ET Q q 0 0 0 rg BT 209.47 316.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 255.09 316.25 Td (and ) Tj ET Q q 0 0 0 rg BT 271.70 316.25 Td (this ) Tj ET Q q 0 0 0 rg BT 287.31 316.25 Td (information ) Tj ET Q q 0 0 0 rg BT 333.43 316.25 Td (represent ) Tj ET Q q 0 0 0 rg BT 373.05 316.25 Td (CGI) Tj ET Q q 0 0 0 rg BT 390.89 316.25 Td (s ) Tj ET Q q 0 0 0 rg BT 396.99 316.25 Td (intentions, ) Tj ET Q q 0 0 0 rg BT 439.62 316.25 Td (plans, ) Tj ET Q q 0 0 0 rg BT 465.24 316.25 Td (expectations ) Tj ET Q q 0 0 0 rg BT 517.37 316.25 Td (and ) Tj ET Q q 0 0 0 rg BT 533.99 316.25 Td (beliefs, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 302.75 Td (and ) Tj ET Q q 0 0 0 rg BT 89.14 302.75 Td (are ) Tj ET Q q 0 0 0 rg BT 104.28 302.75 Td (subject ) Tj ET Q q 0 0 0 rg BT 134.92 302.75 Td (to ) Tj ET Q q 0 0 0 rg BT 144.56 302.75 Td (risks, ) Tj ET Q q 0 0 0 rg BT 167.68 302.75 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 220.84 302.75 Td (and ) Tj ET Q q 0 0 0 rg BT 237.98 302.75 Td (other ) Tj ET Q q 0 0 0 rg BT 260.63 302.75 Td (factors, ) Tj ET Q q 0 0 0 rg BT 292.26 302.75 Td (of ) Tj ET Q q 0 0 0 rg BT 301.90 302.75 Td (which ) Tj ET Q q 0 0 0 rg BT 327.03 302.75 Td (many ) Tj ET Q q 0 0 0 rg BT 351.17 302.75 Td (are ) Tj ET Q q 0 0 0 rg BT 366.31 302.75 Td (beyond ) Tj ET Q q 0 0 0 rg BT 397.96 302.75 Td (the ) Tj ET Q q 0 0 0 rg BT 412.60 302.75 Td (control ) Tj ET Q q 0 0 0 rg BT 441.74 302.75 Td (of ) Tj ET Q q 0 0 0 rg BT 451.37 302.75 Td (the ) Tj ET Q q 0 0 0 rg BT 466.01 302.75 Td (Company) Tj ET Q q 0 0 0 rg BT 503.86 302.75 Td (. ) Tj ET Q q 0 0 0 rg BT 508.35 302.75 Td (These ) Tj ET Q q 0 0 0 rg BT 535.50 302.75 Td (factors ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 289.25 Td (could ) Tj ET Q q 0 0 0 rg BT 96.71 289.25 Td (cause ) Tj ET Q q 0 0 0 rg BT 123.91 289.25 Td (actual ) Tj ET Q q 0 0 0 rg BT 151.12 289.25 Td (results ) Tj ET Q q 0 0 0 rg BT 180.82 289.25 Td (to ) Tj ET Q q 0 0 0 rg BT 191.51 289.25 Td (dif) Tj ET Q q 0 0 0 rg BT 200.86 289.25 Td (fer ) Tj ET Q q 0 0 0 rg BT 214.55 289.25 Td (materially ) Tj ET Q q 0 0 0 rg BT 256.25 289.25 Td (from ) Tj ET Q q 0 0 0 rg BT 277.44 289.25 Td (such ) Tj ET Q q 0 0 0 rg BT 299.64 289.25 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 364.36 289.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 411.57 289.25 Td (or ) Tj ET Q q 0 0 0 rg BT 422.76 289.25 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 487.48 289.25 Td (information. ) Tj ET Q q 0 0 0 rg BT 537.49 289.25 Td (These ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 275.75 Td (factors ) Tj ET Q q 0 0 0 rg BT 101.24 275.75 Td (include ) Tj ET Q q 0 0 0 rg BT 132.00 275.75 Td (but ) Tj ET Q q 0 0 0 rg BT 146.75 275.75 Td (are ) Tj ET Q q 0 0 0 rg BT 161.99 275.75 Td (not ) Tj ET Q q 0 0 0 rg BT 176.74 275.75 Td (restricted ) Tj ET Q q 0 0 0 rg BT 215.98 275.75 Td (to: ) Tj ET Q q 0 0 0 rg BT 228.22 275.75 Td (the ) Tj ET Q q 0 0 0 rg BT 242.97 275.75 Td (timing ) Tj ET Q q 0 0 0 rg BT 269.21 275.75 Td (and ) Tj ET Q q 0 0 0 rg BT 286.46 275.75 Td (size ) Tj ET Q q 0 0 0 rg BT 304.71 275.75 Td (of ) Tj ET Q q 0 0 0 rg BT 314.45 275.75 Td (new ) Tj ET Q q 0 0 0 rg BT 333.19 275.75 Td (contracts; ) Tj ET Q q 0 0 0 rg BT 374.44 275.75 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 423.70 275.75 Td (and ) Tj ET Q q 0 0 0 rg BT 440.95 275.75 Td (other ) Tj ET Q q 0 0 0 rg BT 463.70 275.75 Td (corporate ) Tj ET Q q 0 0 0 rg BT 503.96 275.75 Td (developments; ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 262.25 Td (the ) Tj ET Q q 0 0 0 rg BT 86.43 262.25 Td (ability ) Tj ET Q q 0 0 0 rg BT 111.36 262.25 Td (to ) Tj ET Q q 0 0 0 rg BT 120.79 262.25 Td (attract ) Tj ET Q q 0 0 0 rg BT 147.72 262.25 Td (and ) Tj ET Q q 0 0 0 rg BT 164.66 262.25 Td (retain ) Tj ET Q q 0 0 0 rg BT 189.10 262.25 Td (qualified ) Tj ET Q q 0 0 0 rg BT 224.54 262.25 Td (employees; ) Tj ET Q q 0 0 0 rg BT 272.49 262.25 Td (market ) Tj ET Q q 0 0 0 rg BT 301.92 262.25 Td (competition ) Tj ET Q q 0 0 0 rg BT 349.86 262.25 Td (in ) Tj ET Q q 0 0 0 rg BT 358.79 262.25 Td (the ) Tj ET Q q 0 0 0 rg BT 373.22 262.25 Td (rapidly ) Tj ET Q q 0 0 0 rg BT 401.66 262.25 Td (evolving ) Tj ET Q q 0 0 0 rg BT 436.60 262.25 Td (information ) Tj ET Q q 0 0 0 rg BT 483.04 262.25 Td (technology ) Tj ET Q q 0 0 0 rg BT 528.50 262.25 Td (industry; ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 248.75 Td (general ) Tj ET Q q 0 0 0 rg BT 105.59 248.75 Td (economic ) Tj ET Q q 0 0 0 rg BT 147.68 248.75 Td (and ) Tj ET Q q 0 0 0 rg BT 166.27 248.75 Td (business ) Tj ET Q q 0 0 0 rg BT 205.36 248.75 Td (conditions; ) Tj ET Q q 0 0 0 rg BT 251.96 248.75 Td (foreign ) Tj ET Q q 0 0 0 rg BT 283.05 248.75 Td (exchange ) Tj ET Q q 0 0 0 rg BT 325.66 248.75 Td (and ) Tj ET Q q 0 0 0 rg BT 344.24 248.75 Td (other ) Tj ET Q q 0 0 0 rg BT 368.33 248.75 Td (risks ) Tj ET Q q 0 0 0 rg BT 390.40 248.75 Td (identified ) Tj ET Q q 0 0 0 rg BT 429.99 248.75 Td (in ) Tj ET Q q 0 0 0 rg BT 440.57 248.75 Td (the ) Tj ET Q q 0 0 0 rg BT 456.65 248.75 Td (MD&A) Tj ET Q q 0 0 0 rg BT 482.16 248.75 Td ( ) Tj ET Q q 0 0 0 rg BT 485.73 248.75 Td (and ) Tj ET Q q 0 0 0 rg BT 504.32 248.75 Td (in ) Tj ET Q q 0 0 0 rg BT 514.89 248.75 Td (other ) Tj ET Q q 0 0 0 rg BT 538.98 248.75 Td (public ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 235.25 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 114.04 235.25 Td (documents ) Tj ET Q q 0 0 0 rg BT 159.58 235.25 Td (filed ) Tj ET Q q 0 0 0 rg BT 177.60 235.25 Td (with ) Tj ET Q q 0 0 0 rg BT 195.13 235.25 Td (the ) Tj ET Q q 0 0 0 rg BT 209.16 235.25 Td (Canadian ) Tj ET Q q 0 0 0 rg BT 249.21 235.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 288.74 235.25 Td (authorities ) Tj ET Q q 0 0 0 rg BT 331.78 235.25 Td (\(filed ) Tj ET Q q 0 0 0 rg BT 352.80 235.25 Td (on ) Tj ET Q q 0 0 0 rg BT 364.33 235.25 Td (SEDAR ) Tj ET Q q 0 0 0 rg BT 396.86 235.25 Td (at ) Tj ET Q BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0.2 1 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 405.87890625 233.966796875 m 468.90087890625 233.966796875 l s q 0 0.2 1 rg BT 405.88 235.25 Td (www) Tj ET Q q 0 0.2 1 rg BT 424.88 235.25 Td (.sedar) Tj ET Q q 0 0.2 1 rg BT 449.40 235.25 Td (.com) Tj ET Q BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 468.90 235.25 Td (\) ) Tj ET Q q 0 0 0 rg BT 473.42 235.25 Td (and ) Tj ET Q q 0 0 0 rg BT 489.95 235.25 Td (the ) Tj ET Q q 0 0 0 rg BT 503.98 235.25 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 523.00 235.25 Td (Securities ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 221.75 Td (and ) Tj ET Q q 0 0 0 rg BT 89.76 221.75 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 132.54 221.75 Td (Commission ) Tj ET Q q 0 0 0 rg BT 184.80 221.75 Td (\(filed ) Tj ET Q q 0 0 0 rg BT 207.05 221.75 Td (on ) Tj ET Q q 0 0 0 rg BT 219.81 221.75 Td (EDGAR ) Tj ET Q q 0 0 0 rg BT 254.56 221.75 Td (at ) Tj ET Q BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0.2 1 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 264.8134765625 220.466796875 m 317.33251953125 220.466796875 l s q 0 0.2 1 rg BT 264.81 221.75 Td (www) Tj ET Q q 0 0.2 1 rg BT 283.82 221.75 Td (.sec.gov) Tj ET Q BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 317.33 221.75 Td (\), ) Tj ET Q q 0 0 0 rg BT 325.58 221.75 Td (as ) Tj ET Q q 0 0 0 rg BT 337.83 221.75 Td (well ) Tj ET Q q 0 0 0 rg BT 356.08 221.75 Td (as ) Tj ET Q q 0 0 0 rg BT 368.33 221.75 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 421.60 221.75 Td (regarding ) Tj ET Q q 0 0 0 rg BT 462.38 221.75 Td (the ) Tj ET Q q 0 0 0 rg BT 477.64 221.75 Td (foregoing. ) Tj ET Q q 0 0 0 rg BT 520.23 221.75 Td (The ) Tj ET Q q 0 0 0 rg BT 538.49 221.75 Td (words ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 208.25 Td (believe, ) Tj ET Q q 0 0 0 rg BT 111.35 208.25 Td (estimate, ) Tj ET Q q 0 0 0 rg BT 156.18 208.25 Td (expect, ) Tj ET Q q 0 0 0 rg BT 193.53 208.25 Td (intend, ) Tj ET Q q 0 0 0 rg BT 228.87 208.25 Td (anticipate, ) Tj ET Q q 0 0 0 rg BT 278.23 208.25 Td (foresee, ) Tj ET Q q 0 0 0 rg BT 319.07 208.25 Td (plan, ) Tj ET Q q 0 0 0 rg BT 346.91 208.25 Td (and ) Tj ET Q q 0 0 0 rg BT 364.26 208.25 Td (similar ) Tj ET Q q 0 0 0 rg BT 392.59 208.25 Td (expressions ) Tj ET Q q 0 0 0 rg BT 442.94 208.25 Td (and ) Tj ET Q q 0 0 0 rg BT 460.29 208.25 Td (variations ) Tj ET Q q 0 0 0 rg BT 501.13 208.25 Td (thereof, ) Tj ET Q q 0 0 0 rg BT 533.99 208.25 Td (identify ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 194.75 Td (certain ) Tj ET Q q 0 0 0 rg BT 101.31 194.75 Td (of ) Tj ET Q q 0 0 0 rg BT 111.10 194.75 Td (such ) Tj ET Q q 0 0 0 rg BT 132.41 194.75 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 196.23 194.75 Td (statements ) Tj ET Q q 0 0 0 rg BT 242.54 194.75 Td (or ) Tj ET Q q 0 0 0 rg BT 252.84 194.75 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 316.66 194.75 Td (information, ) Tj ET Q q 0 0 0 rg BT 365.97 194.75 Td (which ) Tj ET Q q 0 0 0 rg BT 391.28 194.75 Td (speak ) Tj ET Q q 0 0 0 rg BT 417.58 194.75 Td (only ) Tj ET Q q 0 0 0 rg BT 436.39 194.75 Td (as ) Tj ET Q q 0 0 0 rg BT 448.19 194.75 Td (of ) Tj ET Q q 0 0 0 rg BT 457.99 194.75 Td (the ) Tj ET Q q 0 0 0 rg BT 472.79 194.75 Td (date ) Tj ET Q q 0 0 0 rg BT 492.60 194.75 Td (on ) Tj ET Q q 0 0 0 rg BT 504.90 194.75 Td (which ) Tj ET Q q 0 0 0 rg BT 530.21 194.75 Td (they ) Tj ET Q q 0 0 0 rg BT 549.51 194.75 Td (are ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 181.25 Td (made. ) Tj ET Q q 0 0 0 rg BT 98.73 181.25 Td (In ) Tj ET Q q 0 0 0 rg BT 107.95 181.25 Td (particular) Tj ET Q q 0 0 0 rg BT 144.46 181.25 Td (, ) Tj ET Q q 0 0 0 rg BT 148.68 181.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 194.41 181.25 Td (relating ) Tj ET Q q 0 0 0 rg BT 225.64 181.25 Td (to ) Tj ET Q q 0 0 0 rg BT 234.86 181.25 Td (future ) Tj ET Q q 0 0 0 rg BT 259.59 181.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 311.82 181.25 Td (are ) Tj ET Q q 0 0 0 rg BT 326.54 181.25 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 389.79 181.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 435.52 181.25 Td (and ) Tj ET Q q 0 0 0 rg BT 452.25 181.25 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 515.49 181.25 Td (information. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 167.75 Td (CGI ) Tj ET Q q 0 0 0 rg BT 91.72 167.75 Td (disclaims ) Tj ET Q q 0 0 0 rg BT 132.44 167.75 Td (any ) Tj ET Q q 0 0 0 rg BT 150.67 167.75 Td (intention ) Tj ET Q q 0 0 0 rg BT 188.42 167.75 Td (or ) Tj ET Q q 0 0 0 rg BT 200.14 167.75 Td (obligation ) Tj ET Q q 0 0 0 rg BT 242.39 167.75 Td (to ) Tj ET Q q 0 0 0 rg BT 253.62 167.75 Td (publicly ) Tj ET Q q 0 0 0 rg BT 287.35 167.75 Td (update ) Tj ET Q q 0 0 0 rg BT 318.59 167.75 Td (or ) Tj ET Q q 0 0 0 rg BT 330.32 167.75 Td (revise ) Tj ET Q q 0 0 0 rg BT 358.04 167.75 Td (any ) Tj ET Q q 0 0 0 rg BT 376.27 167.75 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 441.52 167.75 Td (statements ) Tj ET Q q 0 0 0 rg BT 489.26 167.75 Td (or ) Tj ET Q q 0 0 0 rg BT 500.98 167.75 Td (forward-looking ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 154.25 Td (information, ) Tj ET Q q 0 0 0 rg BT 121.06 154.25 Td (whether ) Tj ET Q q 0 0 0 rg BT 155.12 154.25 Td (as ) Tj ET Q q 0 0 0 rg BT 166.67 154.25 Td (a ) Tj ET Q q 0 0 0 rg BT 173.72 154.25 Td (result ) Tj ET Q q 0 0 0 rg BT 197.77 154.25 Td (of ) Tj ET Q q 0 0 0 rg BT 207.31 154.25 Td (new ) Tj ET Q q 0 0 0 rg BT 225.87 154.25 Td (information, ) Tj ET Q q 0 0 0 rg BT 274.93 154.25 Td (future ) Tj ET Q q 0 0 0 rg BT 299.98 154.25 Td (events ) Tj ET Q q 0 0 0 rg BT 328.54 154.25 Td (or ) Tj ET Q q 0 0 0 rg BT 338.59 154.25 Td (otherwise, ) Tj ET Q q 0 0 0 rg BT 381.65 154.25 Td (except ) Tj ET Q q 0 0 0 rg BT 410.20 154.25 Td (as ) Tj ET Q q 0 0 0 rg BT 421.75 154.25 Td (required ) Tj ET Q q 0 0 0 rg BT 456.81 154.25 Td (by ) Tj ET Q q 0 0 0 rg BT 468.36 154.25 Td (applicable ) Tj ET Q q 0 0 0 rg BT 510.93 154.25 Td (law) Tj ET Q q 0 0 0 rg BT 523.94 154.25 Td (. ) Tj ET Q q 0 0 0 rg BT 528.48 154.25 Td (Readers ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 140.75 Td (are ) Tj ET Q q 0 0 0 rg BT 87.96 140.75 Td (cautioned ) Tj ET Q q 0 0 0 rg BT 129.95 140.75 Td (not ) Tj ET Q q 0 0 0 rg BT 145.41 140.75 Td (to ) Tj ET Q q 0 0 0 rg BT 155.87 140.75 Td (place ) Tj ET Q q 0 0 0 rg BT 180.34 140.75 Td (undue ) Tj ET Q q 0 0 0 rg BT 208.32 140.75 Td (reliance ) Tj ET Q q 0 0 0 rg BT 242.79 140.75 Td (on ) Tj ET Q q 0 0 0 rg BT 255.76 140.75 Td (these ) Tj ET Q q 0 0 0 rg BT 280.73 140.75 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 345.21 140.75 Td (statements ) Tj ET Q q 0 0 0 rg BT 392.18 140.75 Td (or ) Tj ET Q q 0 0 0 rg BT 403.14 140.75 Td (on ) Tj ET Q q 0 0 0 rg BT 416.10 140.75 Td (this ) Tj ET Q q 0 0 0 rg BT 433.06 140.75 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 497.54 140.75 Td (information. ) Tj ET Q q 0 0 0 rg BT 547.33 140.75 Td (Y) Tj ET Q q 0 0 0 rg BT 552.50 140.75 Td (ou ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 127.25 Td (will ) Tj ET Q q 0 0 0 rg BT 86.47 127.25 Td (find ) Tj ET Q q 0 0 0 rg BT 102.95 127.25 Td (more ) Tj ET Q q 0 0 0 rg BT 125.43 127.25 Td (information ) Tj ET Q q 0 0 0 rg BT 171.92 127.25 Td (about ) Tj ET Q q 0 0 0 rg BT 196.41 127.25 Td (the ) Tj ET Q q 0 0 0 rg BT 210.89 127.25 Td (risks ) Tj ET Q q 0 0 0 rg BT 231.36 127.25 Td (that ) Tj ET Q q 0 0 0 rg BT 248.34 127.25 Td (could ) Tj ET Q q 0 0 0 rg BT 271.83 127.25 Td (cause ) Tj ET Q q 0 0 0 rg BT 297.81 127.25 Td (our ) Tj ET Q q 0 0 0 rg BT 312.79 127.25 Td (actual ) Tj ET Q q 0 0 0 rg BT 338.78 127.25 Td (results ) Tj ET Q q 0 0 0 rg BT 367.26 127.25 Td (to ) Tj ET Q q 0 0 0 rg BT 376.74 127.25 Td (dif) Tj ET Q q 0 0 0 rg BT 386.08 127.25 Td (fer ) Tj ET Q q 0 0 0 rg BT 398.55 127.25 Td (significantly ) Tj ET Q q 0 0 0 rg BT 447.04 127.25 Td (from ) Tj ET Q q 0 0 0 rg BT 467.01 127.25 Td (our ) Tj ET Q q 0 0 0 rg BT 481.99 127.25 Td (current ) Tj ET Q q 0 0 0 rg BT 511.97 127.25 Td (expectations ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 113.75 Td (in ) Tj ET Q q 0 0 0 rg BT 81.51 113.75 Td (section10 ) Tj ET Q q 0 0 0 rg BT 125.03 113.75 Td ( ) Tj ET Q q 0 0 0 rg BT 132.54 113.75 Td (Risk ) Tj ET Q q 0 0 0 rg BT 152.54 113.75 Td (Environment.) Tj ET Q endstream endobj 7 0 obj <> endobj 8 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 554.85 22.10 Td (2) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 72.00 706.80 Td (Non-GAAP) Tj ET Q q 0 0 0 rg BT 133.78 706.80 Td ( ) Tj ET Q q 0 0 0 rg BT 137.11 706.80 Td (and ) Tj ET Q q 0 0 0 rg BT 161.78 706.80 Td (Key ) Tj ET Q q 0 0 0 rg BT 187.13 706.80 Td (Performance ) Tj ET Q q 0 0 0 rg BT 263.82 706.80 Td (Measures) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 687.30 Td (The ) Tj ET Q q 0 0 0 rg BT 89.23 687.30 Td (reader ) Tj ET Q q 0 0 0 rg BT 116.97 687.30 Td (should ) Tj ET Q q 0 0 0 rg BT 145.22 687.30 Td (note ) Tj ET Q q 0 0 0 rg BT 164.46 687.30 Td (that ) Tj ET Q q 0 0 0 rg BT 181.19 687.30 Td (the ) Tj ET Q q 0 0 0 rg BT 195.43 687.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 235.67 687.30 Td (reports ) Tj ET Q q 0 0 0 rg BT 265.41 687.30 Td (its ) Tj ET Q q 0 0 0 rg BT 276.13 687.30 Td (financial ) Tj ET Q q 0 0 0 rg BT 310.88 687.30 Td (results ) Tj ET Q q 0 0 0 rg BT 339.11 687.30 Td (in ) Tj ET Q q 0 0 0 rg BT 347.84 687.30 Td (accordance ) Tj ET Q q 0 0 0 rg BT 396.09 687.30 Td (with ) Tj ET Q q 0 0 0 rg BT 413.82 687.30 Td (IFRS. ) Tj ET Q q 0 0 0 rg BT 438.54 687.30 Td (However) Tj ET Q q 0 0 0 rg BT 473.56 687.30 Td (, ) Tj ET Q q 0 0 0 rg BT 477.78 687.30 Td (we ) Tj ET Q q 0 0 0 rg BT 491.01 687.30 Td (use ) Tj ET Q q 0 0 0 rg BT 507.25 687.30 Td (a ) Tj ET Q q 0 0 0 rg BT 513.98 687.30 Td (combination ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 673.80 Td (of ) Tj ET Q q 0 0 0 rg BT 82.50 673.80 Td (financial ) Tj ET Q q 0 0 0 rg BT 118.52 673.80 Td (measures, ) Tj ET Q q 0 0 0 rg BT 163.54 673.80 Td (ratios, ) Tj ET Q q 0 0 0 rg BT 191.04 673.80 Td (and ) Tj ET Q q 0 0 0 rg BT 209.05 673.80 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 251.91 673.80 Td ( ) Tj ET Q q 0 0 0 rg BT 254.91 673.80 Td (measures ) Tj ET Q q 0 0 0 rg BT 297.43 673.80 Td (to ) Tj ET Q q 0 0 0 rg BT 307.93 673.80 Td (assess ) Tj ET Q q 0 0 0 rg BT 338.94 673.80 Td (our ) Tj ET Q q 0 0 0 rg BT 354.94 673.80 Td (Company) Tj ET Q q 0 0 0 rg BT 395.30 673.80 Td (s ) Tj ET Q q 0 0 0 rg BT 402.79 673.80 Td (performance. ) Tj ET Q q 0 0 0 rg BT 458.62 673.80 Td (The ) Tj ET Q q 0 0 0 rg BT 477.13 673.80 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 519.99 673.80 Td ( ) Tj ET Q q 0 0 0 rg BT 522.99 673.80 Td (measures ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 660.30 Td (used ) Tj ET Q q 0 0 0 rg BT 94.21 660.30 Td (in ) Tj ET Q q 0 0 0 rg BT 103.92 660.30 Td (this ) Tj ET Q q 0 0 0 rg BT 120.62 660.30 Td (MD&A) Tj ET Q q 0 0 0 rg BT 146.12 660.30 Td ( ) Tj ET Q q 0 0 0 rg BT 148.82 660.30 Td (do ) Tj ET Q q 0 0 0 rg BT 161.53 660.30 Td (not ) Tj ET Q q 0 0 0 rg BT 176.74 660.30 Td (have ) Tj ET Q q 0 0 0 rg BT 198.95 660.30 Td (any ) Tj ET Q q 0 0 0 rg BT 216.16 660.30 Td (standardized ) Tj ET Q q 0 0 0 rg BT 270.39 660.30 Td (meaning ) Tj ET Q q 0 0 0 rg BT 307.61 660.30 Td (prescribed ) Tj ET Q q 0 0 0 rg BT 352.33 660.30 Td (by ) Tj ET Q q 0 0 0 rg BT 364.53 660.30 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 387.73 660.30 Td (and ) Tj ET Q q 0 0 0 rg BT 405.44 660.30 Td (are ) Tj ET Q q 0 0 0 rg BT 421.15 660.30 Td (therefore ) Tj ET Q q 0 0 0 rg BT 459.87 660.30 Td (unlikely ) Tj ET Q q 0 0 0 rg BT 492.58 660.30 Td (to ) Tj ET Q q 0 0 0 rg BT 502.78 660.30 Td (be ) Tj ET Q q 0 0 0 rg BT 515.49 660.30 Td (comparable ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 646.80 Td (to ) Tj ET Q q 0 0 0 rg BT 81.67 646.80 Td (similar ) Tj ET Q q 0 0 0 rg BT 109.82 646.80 Td (measures ) Tj ET Q q 0 0 0 rg BT 151.50 646.80 Td (presented ) Tj ET Q q 0 0 0 rg BT 193.69 646.80 Td (by ) Tj ET Q q 0 0 0 rg BT 205.35 646.80 Td (other ) Tj ET Q q 0 0 0 rg BT 228.03 646.80 Td (issuers. ) Tj ET Q q 0 0 0 rg BT 261.05 646.80 Td (These ) Tj ET Q q 0 0 0 rg BT 288.23 646.80 Td (measures ) Tj ET Q q 0 0 0 rg BT 329.90 646.80 Td (should ) Tj ET Q q 0 0 0 rg BT 358.58 646.80 Td (be ) Tj ET Q q 0 0 0 rg BT 370.75 646.80 Td (considered ) Tj ET Q q 0 0 0 rg BT 416.94 646.80 Td (as ) Tj ET Q q 0 0 0 rg BT 428.61 646.80 Td (supplemental ) Tj ET Q q 0 0 0 rg BT 484.30 646.80 Td (in ) Tj ET Q q 0 0 0 rg BT 493.47 646.80 Td (nature ) Tj ET Q q 0 0 0 rg BT 521.14 646.80 Td (and ) Tj ET Q q 0 0 0 rg BT 538.32 646.80 Td (not ) Tj ET Q q 0 0 0 rg BT 552.99 646.80 Td (as ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 633.30 Td (a ) Tj ET Q q 0 0 0 rg BT 79.51 633.30 Td (substitute ) Tj ET Q q 0 0 0 rg BT 120.53 633.30 Td (for ) Tj ET Q q 0 0 0 rg BT 133.53 633.30 Td (the ) Tj ET Q q 0 0 0 rg BT 148.54 633.30 Td (related ) Tj ET Q q 0 0 0 rg BT 178.56 633.30 Td (financial ) Tj ET Q q 0 0 0 rg BT 214.08 633.30 Td (information ) Tj ET Q q 0 0 0 rg BT 261.11 633.30 Td (prepared ) Tj ET Q q 0 0 0 rg BT 299.63 633.30 Td (in ) Tj ET Q q 0 0 0 rg BT 309.14 633.30 Td (accordance ) Tj ET Q q 0 0 0 rg BT 358.17 633.30 Td (with ) Tj ET Q q 0 0 0 rg BT 376.67 633.30 Td (IFRS.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 613.80 Td (The ) Tj ET Q q 0 0 0 rg BT 90.01 613.80 Td (table ) Tj ET Q q 0 0 0 rg BT 112.03 613.80 Td (below ) Tj ET Q q 0 0 0 rg BT 138.04 613.80 Td (summarizes ) Tj ET Q q 0 0 0 rg BT 189.05 613.80 Td (our ) Tj ET Q q 0 0 0 rg BT 204.56 613.80 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 247.42 613.80 Td ( ) Tj ET Q q 0 0 0 rg BT 249.92 613.80 Td (measures ) Tj ET Q q 0 0 0 rg BT 291.93 613.80 Td (and ) Tj ET Q q 0 0 0 rg BT 309.45 613.80 Td (most ) Tj ET Q q 0 0 0 rg BT 331.45 613.80 Td (relevant ) Tj ET Q q 0 0 0 rg BT 365.97 613.80 Td (key ) Tj ET Q q 0 0 0 rg BT 382.48 613.80 Td (performance ) Tj ET Q q 0 0 0 rg BT 435.50 613.80 Td (measures:) Tj ET Q 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 72.25 597.30 68.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 72.25 593.30 68.00 -81.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 72.25 512.30 68.00 -15.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 72.25 497.30 68.00 -27.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 72.25 470.30 68.00 -95.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 72.25 375.30 68.00 -81.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 72.25 294.30 68.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 72.25 290.30 68.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 72.25 286.30 68.00 -42.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 72.25 244.30 68.00 -110.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 72.25 134.30 68.00 -4.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 597.3 m 72.25 593.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 597.3 m 140.25 593.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 597.3 m 140.25 597.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 597.3 m 149.25 597.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 561.25 597.3 m 561.25 593.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 149.25 597.3 m 561.25 597.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 593.3 m 72.25 512.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 593.3 m 140.25 512.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 561.25 593.3 m 561.25 512.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 512.3 m 72.25 497.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 512.3 m 140.25 497.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 512.3 m 140.25 497.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 561.25 512.3 m 561.25 497.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 497.29999999999995 m 72.25 470.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 497.29999999999995 m 140.25 470.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 497.29999999999995 m 140.25 470.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 561.25 497.29999999999995 m 561.25 470.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 470.29999999999995 m 72.25 375.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 470.29999999999995 m 140.25 375.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 470.29999999999995 m 140.25 375.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 561.25 470.29999999999995 m 561.25 375.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 375.29999999999995 m 72.25 294.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 375.29999999999995 m 140.25 294.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 375.29999999999995 m 140.25 294.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 561.25 375.29999999999995 m 561.25 294.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 294.29999999999995 m 72.25 290.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 294.29999999999995 m 140.25 290.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 290.29999999999995 m 140.25 290.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 290.29999999999995 m 149.25 290.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 561.25 294.29999999999995 m 561.25 290.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 149.25 290.29999999999995 m 561.25 290.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 290.29999999999995 m 72.25 286.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 290.29999999999995 m 140.25 286.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 561.25 290.29999999999995 m 561.25 286.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 286.29999999999995 m 72.25 244.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 286.29999999999995 m 140.25 244.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 286.29999999999995 m 140.25 244.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 561.25 286.29999999999995 m 561.25 244.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 244.29999999999995 m 72.25 134.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 244.29999999999995 m 140.25 134.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 244.29999999999995 m 140.25 134.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 561.25 244.29999999999995 m 561.25 134.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 134.29999999999995 m 72.25 130.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 134.29999999999995 m 140.25 130.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 130.29999999999995 m 140.25 130.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 130.29999999999995 m 149.25 130.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 561.25 134.29999999999995 m 561.25 130.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 149.25 130.29999999999995 m 561.25 130.29999999999995 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 74.75 584.25 Td (Profitability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.75 583.87 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 584.25 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 189.24 584.25 Td (EBIT) Tj ET Q q 0 0 0 rg BT 209.16 584.25 Td ( ) Tj ET Q q 0 0 0 rg BT 211.54 584.25 Td (\(non-GAAP\) ) Tj ET Q q 0 0 0 rg BT 263.02 584.25 Td ( ) Tj ET Q q 0 0 0 rg BT 270.49 584.25 Td (is ) Tj ET Q q 0 0 0 rg BT 279.45 584.25 Td (a ) Tj ET Q q 0 0 0 rg BT 286.92 584.25 Td (measure ) Tj ET Q q 0 0 0 rg BT 324.40 584.25 Td (of ) Tj ET Q q 0 0 0 rg BT 334.36 584.25 Td (earnings ) Tj ET Q q 0 0 0 rg BT 371.35 584.25 Td (excluding ) Tj ET Q q 0 0 0 rg BT 411.84 584.25 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 464.32 584.25 Td (costs, ) Tj ET Q q 0 0 0 rg BT 490.29 584.25 Td (net ) Tj ET Q q 0 0 0 rg BT 505.26 584.25 Td (finance ) Tj ET Q q 0 0 0 rg BT 536.74 584.25 Td (costs ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 570.75 Td (and ) Tj ET Q q 0 0 0 rg BT 169.28 570.75 Td (income ) Tj ET Q q 0 0 0 rg BT 200.81 570.75 Td (tax ) Tj ET Q q 0 0 0 rg BT 215.34 570.75 Td (expense ) Tj ET Q q 0 0 0 rg BT 251.88 570.75 Td (as ) Tj ET Q q 0 0 0 rg BT 263.90 570.75 Td (these ) Tj ET Q q 0 0 0 rg BT 288.44 570.75 Td (items ) Tj ET Q q 0 0 0 rg BT 312.46 570.75 Td (are ) Tj ET Q q 0 0 0 rg BT 327.98 570.75 Td (not ) Tj ET Q q 0 0 0 rg BT 343.01 570.75 Td (directly ) Tj ET Q q 0 0 0 rg BT 374.04 570.75 Td (related ) Tj ET Q q 0 0 0 rg BT 404.07 570.75 Td (to ) Tj ET Q q 0 0 0 rg BT 414.10 570.75 Td (the ) Tj ET Q q 0 0 0 rg BT 429.13 570.75 Td (cost ) Tj ET Q q 0 0 0 rg BT 448.15 570.75 Td (of ) Tj ET Q q 0 0 0 rg BT 458.17 570.75 Td (operations. ) Tj ET Q q 0 0 0 rg BT 505.22 570.75 Td (Management ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 557.25 Td (believes ) Tj ET Q q 0 0 0 rg BT 187.24 557.25 Td (this ) Tj ET Q q 0 0 0 rg BT 203.72 557.25 Td (measure ) Tj ET Q q 0 0 0 rg BT 241.21 557.25 Td (is ) Tj ET Q q 0 0 0 rg BT 250.18 557.25 Td (useful ) Tj ET Q q 0 0 0 rg BT 276.67 557.25 Td (to ) Tj ET Q q 0 0 0 rg BT 286.65 557.25 Td (investors ) Tj ET Q q 0 0 0 rg BT 325.13 557.25 Td (as ) Tj ET Q q 0 0 0 rg BT 337.11 557.25 Td (it ) Tj ET Q q 0 0 0 rg BT 344.08 557.25 Td (best ) Tj ET Q q 0 0 0 rg BT 363.56 557.25 Td (reflects ) Tj ET Q q 0 0 0 rg BT 395.04 557.25 Td (the ) Tj ET Q q 0 0 0 rg BT 410.03 557.25 Td (Company's ) Tj ET Q q 0 0 0 rg BT 457.24 557.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 497.24 557.25 Td (profitability ) Tj ET Q q 0 0 0 rg BT 542.73 557.25 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 543.75 Td (allows ) Tj ET Q q 0 0 0 rg BT 179.96 543.75 Td (for ) Tj ET Q q 0 0 0 rg BT 193.67 543.75 Td (better ) Tj ET Q q 0 0 0 rg BT 219.88 543.75 Td (comparability ) Tj ET Q q 0 0 0 rg BT 276.11 543.75 Td (from ) Tj ET Q q 0 0 0 rg BT 297.31 543.75 Td (period ) Tj ET Q q 0 0 0 rg BT 325.53 543.75 Td (to ) Tj ET Q q 0 0 0 rg BT 336.24 543.75 Td (period ) Tj ET Q q 0 0 0 rg BT 364.46 543.75 Td (as ) Tj ET Q q 0 0 0 rg BT 377.17 543.75 Td (well ) Tj ET Q q 0 0 0 rg BT 395.87 543.75 Td (as ) Tj ET Q q 0 0 0 rg BT 408.58 543.75 Td (to ) Tj ET Q q 0 0 0 rg BT 419.29 543.75 Td (trend ) Tj ET Q q 0 0 0 rg BT 443.01 543.75 Td (analysis ) Tj ET Q q 0 0 0 rg BT 478.72 543.75 Td (in ) Tj ET Q q 0 0 0 rg BT 488.93 543.75 Td (our ) Tj ET Q q 0 0 0 rg BT 505.14 543.75 Td (operations. ) Tj ET Q q 0 0 0 rg BT 552.49 543.75 Td (A) Tj ET Q q 0 0 0 rg BT 557.99 543.75 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 530.25 Td (reconciliation ) Tj ET Q q 0 0 0 rg BT 206.19 530.25 Td (of ) Tj ET Q q 0 0 0 rg BT 215.61 530.25 Td (the ) Tj ET Q q 0 0 0 rg BT 230.04 530.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 265.98 530.25 Td (EBIT) Tj ET Q q 0 0 0 rg BT 285.90 530.25 Td ( ) Tj ET Q q 0 0 0 rg BT 287.74 530.25 Td (to ) Tj ET Q q 0 0 0 rg BT 297.16 530.25 Td (its ) Tj ET Q q 0 0 0 rg BT 308.07 530.25 Td (closest ) Tj ET Q q 0 0 0 rg BT 338.00 530.25 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 360.41 530.25 Td (measure ) Tj ET Q q 0 0 0 rg BT 397.34 530.25 Td (can ) Tj ET Q q 0 0 0 rg BT 413.77 530.25 Td (be ) Tj ET Q q 0 0 0 rg BT 425.69 530.25 Td (found ) Tj ET Q q 0 0 0 rg BT 450.13 530.25 Td (in ) Tj ET Q q 0 0 0 rg BT 459.05 530.25 Td (section ) Tj ET Q q 0 0 0 rg BT 489.48 530.25 Td (3.7 ) Tj ET Q q 0 0 0 rg BT 503.90 530.25 Td (of ) Tj ET Q q 0 0 0 rg BT 513.32 530.25 Td (the ) Tj ET Q q 0 0 0 rg BT 527.75 530.25 Td (present ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 516.75 Td (document.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.75 502.87 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 503.25 Td (Net ) Tj ET Q q 0 0 0 rg BT 168.26 503.25 Td (earnings ) Tj ET Q q 0 0 0 rg BT 205.28 503.25 Td ( ) Tj ET Q q 0 0 0 rg BT 212.79 503.25 Td (is ) Tj ET Q q 0 0 0 rg BT 221.79 503.25 Td (a ) Tj ET Q q 0 0 0 rg BT 229.29 503.25 Td (measure ) Tj ET Q q 0 0 0 rg BT 266.81 503.25 Td (of ) Tj ET Q q 0 0 0 rg BT 276.81 503.25 Td (earnings ) Tj ET Q q 0 0 0 rg BT 313.84 503.25 Td (generated ) Tj ET Q q 0 0 0 rg BT 356.87 503.25 Td (for ) Tj ET Q q 0 0 0 rg BT 369.88 503.25 Td (shareholders.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.75 487.87 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 488.25 Td (Diluted ) Tj ET Q q 0 0 0 rg BT 181.96 488.25 Td (earnings ) Tj ET Q q 0 0 0 rg BT 218.67 488.25 Td (per ) Tj ET Q q 0 0 0 rg BT 233.88 488.25 Td (share ) Tj ET Q q 0 0 0 rg BT 258.58 488.25 Td ( ) Tj ET Q q 0 0 0 rg BT 265.78 488.25 Td (is ) Tj ET Q q 0 0 0 rg BT 274.47 488.25 Td (a ) Tj ET Q q 0 0 0 rg BT 281.67 488.25 Td (measure ) Tj ET Q q 0 0 0 rg BT 318.88 488.25 Td (of ) Tj ET Q q 0 0 0 rg BT 328.58 488.25 Td (earnings ) Tj ET Q q 0 0 0 rg BT 365.29 488.25 Td (generated ) Tj ET Q q 0 0 0 rg BT 408.02 488.25 Td (for ) Tj ET Q q 0 0 0 rg BT 420.72 488.25 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 474.94 488.25 Td (on ) Tj ET Q q 0 0 0 rg BT 487.15 488.25 Td (a ) Tj ET Q q 0 0 0 rg BT 494.34 488.25 Td (per ) Tj ET Q q 0 0 0 rg BT 509.54 488.25 Td (share ) Tj ET Q q 0 0 0 rg BT 534.25 488.25 Td (basis, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 474.75 Td (assuming ) Tj ET Q q 0 0 0 rg BT 192.77 474.75 Td (all ) Tj ET Q q 0 0 0 rg BT 204.27 474.75 Td (dilutive ) Tj ET Q q 0 0 0 rg BT 234.79 474.75 Td (elements ) Tj ET Q q 0 0 0 rg BT 273.81 474.75 Td (are ) Tj ET Q q 0 0 0 rg BT 289.32 474.75 Td (exercised.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.75 460.87 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 461.25 Td (Net ) Tj ET Q q 0 0 0 rg BT 167.51 461.25 Td (earnings ) Tj ET Q q 0 0 0 rg BT 203.79 461.25 Td (excluding ) Tj ET Q q 0 0 0 rg BT 243.57 461.25 Td (specific ) Tj ET Q q 0 0 0 rg BT 275.33 461.25 Td (items ) Tj ET Q q 0 0 0 rg BT 298.59 461.25 Td (\(non-GAAP\) ) Tj ET Q q 0 0 0 rg BT 349.36 461.25 Td ( ) Tj ET Q q 0 0 0 rg BT 356.12 461.25 Td (is ) Tj ET Q q 0 0 0 rg BT 364.37 461.25 Td (a ) Tj ET Q q 0 0 0 rg BT 371.13 461.25 Td (measure ) Tj ET Q q 0 0 0 rg BT 407.90 461.25 Td (of ) Tj ET Q q 0 0 0 rg BT 417.16 461.25 Td (net ) Tj ET Q q 0 0 0 rg BT 431.43 461.25 Td (earnings ) Tj ET Q q 0 0 0 rg BT 467.71 461.25 Td (excluding ) Tj ET Q q 0 0 0 rg BT 507.49 461.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 536.26 461.25 Td (items ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 447.75 Td (not ) Tj ET Q q 0 0 0 rg BT 167.45 447.75 Td (considered ) Tj ET Q q 0 0 0 rg BT 214.68 447.75 Td (by ) Tj ET Q q 0 0 0 rg BT 227.37 447.75 Td (management ) Tj ET Q q 0 0 0 rg BT 283.10 447.75 Td (to ) Tj ET Q q 0 0 0 rg BT 293.80 447.75 Td (be ) Tj ET Q q 0 0 0 rg BT 307.00 447.75 Td (part ) Tj ET Q q 0 0 0 rg BT 325.70 447.75 Td (of ) Tj ET Q q 0 0 0 rg BT 336.40 447.75 Td (the ) Tj ET Q q 0 0 0 rg BT 352.11 447.75 Td (day ) Tj ET Q q 0 0 0 rg BT 369.81 447.75 Td (to ) Tj ET Q q 0 0 0 rg BT 380.51 447.75 Td (day ) Tj ET Q q 0 0 0 rg BT 398.21 447.75 Td (operations. ) Tj ET Q q 0 0 0 rg BT 445.93 447.75 Td (By ) Tj ET Q q 0 0 0 rg BT 459.63 447.75 Td (excluding ) Tj ET Q q 0 0 0 rg BT 500.85 447.75 Td (these ) Tj ET Q q 0 0 0 rg BT 526.06 447.75 Td (items, ) Tj ET Q q 0 0 0 rg BT 553.25 447.75 Td (it ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 434.25 Td (provides ) Tj ET Q q 0 0 0 rg BT 189.71 434.25 Td (a ) Tj ET Q q 0 0 0 rg BT 198.65 434.25 Td (better ) Tj ET Q q 0 0 0 rg BT 225.61 434.25 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 270.58 434.25 Td (of ) Tj ET Q q 0 0 0 rg BT 282.03 434.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 323.50 434.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 377.96 434.25 Td (using ) Tj ET Q q 0 0 0 rg BT 403.42 434.25 Td (the ) Tj ET Q q 0 0 0 rg BT 419.87 434.25 Td (same ) Tj ET Q q 0 0 0 rg BT 445.82 434.25 Td (measures ) Tj ET Q q 0 0 0 rg BT 489.27 434.25 Td (as ) Tj ET Q q 0 0 0 rg BT 502.72 434.25 Td (management. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 420.75 Td (Management ) Tj ET Q q 0 0 0 rg BT 206.39 420.75 Td (believes ) Tj ET Q q 0 0 0 rg BT 241.51 420.75 Td (that, ) Tj ET Q q 0 0 0 rg BT 261.13 420.75 Td (as ) Tj ET Q q 0 0 0 rg BT 272.73 420.75 Td (a ) Tj ET Q q 0 0 0 rg BT 279.84 420.75 Td (result, ) Tj ET Q q 0 0 0 rg BT 306.46 420.75 Td (the ) Tj ET Q q 0 0 0 rg BT 321.07 420.75 Td (investors ) Tj ET Q q 0 0 0 rg BT 359.19 420.75 Td (are ) Tj ET Q q 0 0 0 rg BT 374.30 420.75 Td (af) Tj ET Q q 0 0 0 rg BT 381.72 420.75 Td (forded ) Tj ET Q q 0 0 0 rg BT 409.26 420.75 Td (greater ) Tj ET Q q 0 0 0 rg BT 439.88 420.75 Td (transparency ) Tj ET Q q 0 0 0 rg BT 494.01 420.75 Td (in ) Tj ET Q q 0 0 0 rg BT 503.12 420.75 Td (assessing ) Tj ET Q q 0 0 0 rg BT 545.25 420.75 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 407.25 Td (true ) Tj ET Q q 0 0 0 rg BT 169.53 407.25 Td (operation ) Tj ET Q q 0 0 0 rg BT 209.32 407.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 262.11 407.25 Td (of ) Tj ET Q q 0 0 0 rg BT 271.89 407.25 Td (the ) Tj ET Q q 0 0 0 rg BT 286.66 407.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 327.45 407.25 Td (also ) Tj ET Q q 0 0 0 rg BT 346.23 407.25 Td (providing ) Tj ET Q q 0 0 0 rg BT 385.02 407.25 Td (better ) Tj ET Q q 0 0 0 rg BT 410.30 407.25 Td (comparability ) Tj ET Q q 0 0 0 rg BT 465.58 407.25 Td (from ) Tj ET Q q 0 0 0 rg BT 485.85 407.25 Td (period ) Tj ET Q q 0 0 0 rg BT 513.14 407.25 Td (to ) Tj ET Q q 0 0 0 rg BT 522.91 407.25 Td (period. ) Tj ET Q q 0 0 0 rg BT 552.49 407.25 Td (A) Tj ET Q q 0 0 0 rg BT 558.00 407.25 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 393.75 Td (reconciliation ) Tj ET Q q 0 0 0 rg BT 206.95 393.75 Td (of ) Tj ET Q q 0 0 0 rg BT 217.13 393.75 Td (the ) Tj ET Q q 0 0 0 rg BT 232.32 393.75 Td (net ) Tj ET Q q 0 0 0 rg BT 247.51 393.75 Td (earnings ) Tj ET Q q 0 0 0 rg BT 284.71 393.75 Td (excluding ) Tj ET Q q 0 0 0 rg BT 325.41 393.75 Td (specific ) Tj ET Q q 0 0 0 rg BT 358.09 393.75 Td (items ) Tj ET Q q 0 0 0 rg BT 382.27 393.75 Td (to ) Tj ET Q q 0 0 0 rg BT 392.45 393.75 Td (its ) Tj ET Q q 0 0 0 rg BT 404.13 393.75 Td (closest ) Tj ET Q q 0 0 0 rg BT 434.81 393.75 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 457.99 393.75 Td (measure ) Tj ET Q q 0 0 0 rg BT 495.68 393.75 Td (can ) Tj ET Q q 0 0 0 rg BT 512.87 393.75 Td (be ) Tj ET Q q 0 0 0 rg BT 525.55 393.75 Td (found ) Tj ET Q q 0 0 0 rg BT 550.75 393.75 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 380.25 Td (section ) Tj ET Q q 0 0 0 rg BT 182.77 380.25 Td (3.8.3. ) Tj ET Q q 0 0 0 rg BT 207.78 380.25 Td (of ) Tj ET Q q 0 0 0 rg BT 217.79 380.25 Td (the ) Tj ET Q q 0 0 0 rg BT 232.80 380.25 Td (present ) Tj ET Q q 0 0 0 rg BT 265.32 380.25 Td (document.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.75 365.87 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 366.25 Td (Basic ) Tj ET Q q 0 0 0 rg BT 175.24 366.25 Td (and ) Tj ET Q q 0 0 0 rg BT 191.75 366.25 Td (diluted ) Tj ET Q q 0 0 0 rg BT 219.75 366.25 Td (earnings ) Tj ET Q q 0 0 0 rg BT 255.76 366.25 Td (per ) Tj ET Q q 0 0 0 rg BT 270.26 366.25 Td (share ) Tj ET Q q 0 0 0 rg BT 294.25 366.25 Td (excluding ) Tj ET Q q 0 0 0 rg BT 333.77 366.25 Td (specific ) Tj ET Q q 0 0 0 rg BT 365.26 366.25 Td (items ) Tj ET Q q 0 0 0 rg BT 388.25 366.25 Td (\(non-GAAP\) ) Tj ET Q q 0 0 0 rg BT 438.75 366.25 Td ( ) Tj ET Q q 0 0 0 rg BT 445.24 366.25 Td (is ) Tj ET Q q 0 0 0 rg BT 453.23 366.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 484.24 366.25 Td (as ) Tj ET Q q 0 0 0 rg BT 495.23 366.25 Td (the ) Tj ET Q q 0 0 0 rg BT 509.23 366.25 Td (net ) Tj ET Q q 0 0 0 rg BT 523.23 366.25 Td (earnings ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 352.75 Td (excluding ) Tj ET Q q 0 0 0 rg BT 192.44 352.75 Td (specific ) Tj ET Q q 0 0 0 rg BT 225.12 352.75 Td (items ) Tj ET Q q 0 0 0 rg BT 249.29 352.75 Td (\(non-GAAP\) ) Tj ET Q q 0 0 0 rg BT 300.97 352.75 Td (on ) Tj ET Q q 0 0 0 rg BT 313.64 352.75 Td (a ) Tj ET Q q 0 0 0 rg BT 321.31 352.75 Td (per ) Tj ET Q q 0 0 0 rg BT 336.99 352.75 Td (share ) Tj ET Q q 0 0 0 rg BT 362.17 352.75 Td (basis. ) Tj ET Q q 0 0 0 rg BT 388.34 352.75 Td (Management ) Tj ET Q q 0 0 0 rg BT 443.54 352.75 Td (believes ) Tj ET Q q 0 0 0 rg BT 479.23 352.75 Td (that ) Tj ET Q q 0 0 0 rg BT 496.90 352.75 Td (this ) Tj ET Q q 0 0 0 rg BT 513.57 352.75 Td (measure ) Tj ET Q q 0 0 0 rg BT 551.26 352.75 Td (is ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 339.25 Td (useful ) Tj ET Q q 0 0 0 rg BT 177.48 339.25 Td (to ) Tj ET Q q 0 0 0 rg BT 186.69 339.25 Td (investors ) Tj ET Q q 0 0 0 rg BT 224.42 339.25 Td (as ) Tj ET Q q 0 0 0 rg BT 235.63 339.25 Td (it ) Tj ET Q q 0 0 0 rg BT 241.84 339.25 Td (best ) Tj ET Q q 0 0 0 rg BT 260.56 339.25 Td (reflects ) Tj ET Q q 0 0 0 rg BT 291.28 339.25 Td (the ) Tj ET Q q 0 0 0 rg BT 305.50 339.25 Td (Company's ) Tj ET Q q 0 0 0 rg BT 351.95 339.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 391.19 339.25 Td (profitability ) Tj ET Q q 0 0 0 rg BT 435.92 339.25 Td (on ) Tj ET Q q 0 0 0 rg BT 447.64 339.25 Td (a ) Tj ET Q q 0 0 0 rg BT 454.36 339.25 Td (per ) Tj ET Q q 0 0 0 rg BT 469.08 339.25 Td (share ) Tj ET Q q 0 0 0 rg BT 493.30 339.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 516.02 339.25 Td (and ) Tj ET Q q 0 0 0 rg BT 532.75 339.25 Td (allows ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 325.75 Td (for ) Tj ET Q q 0 0 0 rg BT 165.79 325.75 Td (better ) Tj ET Q q 0 0 0 rg BT 192.34 325.75 Td (comparability ) Tj ET Q q 0 0 0 rg BT 248.89 325.75 Td (from ) Tj ET Q q 0 0 0 rg BT 270.43 325.75 Td (period ) Tj ET Q q 0 0 0 rg BT 298.98 325.75 Td (to ) Tj ET Q q 0 0 0 rg BT 310.02 325.75 Td (period. ) Tj ET Q q 0 0 0 rg BT 340.92 325.75 Td (The ) Tj ET Q q 0 0 0 rg BT 359.89 325.75 Td (basic ) Tj ET Q q 0 0 0 rg BT 384.43 325.75 Td (and ) Tj ET Q q 0 0 0 rg BT 402.98 325.75 Td (diluted ) Tj ET Q q 0 0 0 rg BT 433.04 325.75 Td (earnings ) Tj ET Q q 0 0 0 rg BT 471.09 325.75 Td (per ) Tj ET Q q 0 0 0 rg BT 487.64 325.75 Td (share ) Tj ET Q q 0 0 0 rg BT 513.69 325.75 Td (reported ) Tj ET Q q 0 0 0 rg BT 550.74 325.75 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 312.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 200.79 312.25 Td (with ) Tj ET Q q 0 0 0 rg BT 219.31 312.25 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 242.33 312.25 Td (can ) Tj ET Q q 0 0 0 rg BT 259.36 312.25 Td (be ) Tj ET Q q 0 0 0 rg BT 271.88 312.25 Td (found ) Tj ET Q q 0 0 0 rg BT 296.92 312.25 Td (in ) Tj ET Q q 0 0 0 rg BT 306.44 312.25 Td (section ) Tj ET Q q 0 0 0 rg BT 337.47 312.25 Td (3.8 ) Tj ET Q q 0 0 0 rg BT 352.50 312.25 Td (of ) Tj ET Q q 0 0 0 rg BT 362.52 312.25 Td (the ) Tj ET Q q 0 0 0 rg BT 377.54 312.25 Td (present ) Tj ET Q q 0 0 0 rg BT 410.08 312.25 Td (document ) Tj ET Q q 0 0 0 rg BT 452.12 312.25 Td (while ) Tj ET Q q 0 0 0 rg BT 475.14 312.25 Td (the ) Tj ET Q q 0 0 0 rg BT 490.17 312.25 Td (basic ) Tj ET Q q 0 0 0 rg BT 513.69 312.25 Td (and ) Tj ET Q q 0 0 0 rg BT 531.23 312.25 Td (diluted ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 298.75 Td (earnings ) Tj ET Q q 0 0 0 rg BT 188.77 298.75 Td (per ) Tj ET Q q 0 0 0 rg BT 204.28 298.75 Td (share ) Tj ET Q q 0 0 0 rg BT 229.30 298.75 Td (excluding ) Tj ET Q q 0 0 0 rg BT 269.82 298.75 Td (specific ) Tj ET Q q 0 0 0 rg BT 302.33 298.75 Td (items ) Tj ET Q q 0 0 0 rg BT 326.34 298.75 Td (can ) Tj ET Q q 0 0 0 rg BT 343.35 298.75 Td (be ) Tj ET Q q 0 0 0 rg BT 355.86 298.75 Td (found ) Tj ET Q q 0 0 0 rg BT 380.88 298.75 Td (in ) Tj ET Q q 0 0 0 rg BT 390.39 298.75 Td (section ) Tj ET Q q 0 0 0 rg BT 421.40 298.75 Td (3.8.3.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 74.75 277.25 Td (Liquidity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.75 276.87 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 277.25 Td (Cash ) Tj ET Q q 0 0 0 rg BT 175.25 277.25 Td (provided ) Tj ET Q q 0 0 0 rg BT 212.26 277.25 Td (by ) Tj ET Q q 0 0 0 rg BT 224.25 277.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 264.26 277.25 Td (activities ) Tj ET Q q 0 0 0 rg BT 301.26 277.25 Td ( ) Tj ET Q q 0 0 0 rg BT 308.75 277.25 Td (is ) Tj ET Q q 0 0 0 rg BT 317.73 277.25 Td (a ) Tj ET Q q 0 0 0 rg BT 325.23 277.25 Td (measure ) Tj ET Q q 0 0 0 rg BT 362.73 277.25 Td (of ) Tj ET Q q 0 0 0 rg BT 372.72 277.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 394.22 277.25 Td (generated ) Tj ET Q q 0 0 0 rg BT 437.24 277.25 Td (from ) Tj ET Q q 0 0 0 rg BT 457.72 277.25 Td (managing ) Tj ET Q q 0 0 0 rg BT 499.74 277.25 Td (our ) Tj ET Q q 0 0 0 rg BT 515.23 277.25 Td (day-to-day ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 263.75 Td (business ) Tj ET Q q 0 0 0 rg BT 189.86 263.75 Td (operations. ) Tj ET Q q 0 0 0 rg BT 236.98 263.75 Td (W) Tj ET Q q 0 0 0 rg BT 245.31 263.75 Td (e ) Tj ET Q q 0 0 0 rg BT 252.90 263.75 Td (believe ) Tj ET Q q 0 0 0 rg BT 284.01 263.75 Td (strong ) Tj ET Q q 0 0 0 rg BT 311.61 263.75 Td (operating ) Tj ET Q q 0 0 0 rg BT 351.73 263.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 373.32 263.75 Td (flow ) Tj ET Q q 0 0 0 rg BT 391.92 263.75 Td (is ) Tj ET Q q 0 0 0 rg BT 401.00 263.75 Td (indicative ) Tj ET Q q 0 0 0 rg BT 441.11 263.75 Td (of ) Tj ET Q q 0 0 0 rg BT 451.20 263.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 486.81 263.75 Td (flexibility) Tj ET Q q 0 0 0 rg BT 520.15 263.75 Td (, ) Tj ET Q q 0 0 0 rg BT 525.24 263.75 Td (allowing ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 250.25 Td (us ) Tj ET Q q 0 0 0 rg BT 163.76 250.25 Td (to ) Tj ET Q q 0 0 0 rg BT 173.76 250.25 Td (execute ) Tj ET Q q 0 0 0 rg BT 207.78 250.25 Td (our ) Tj ET Q q 0 0 0 rg BT 223.29 250.25 Td (Company's ) Tj ET Q q 0 0 0 rg BT 270.53 250.25 Td (strategy) Tj ET Q q 0 0 0 rg BT 301.88 250.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.75 234.87 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 235.25 Td (Days ) Tj ET Q q 0 0 0 rg BT 175.15 235.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 199.06 235.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 248.49 235.25 Td (\("DSO"\) ) Tj ET Q q 0 0 0 rg BT 283.27 235.25 Td (\(non-GAAP\) ) Tj ET Q q 0 0 0 rg BT 335.18 235.25 Td ( ) Tj ET Q q 0 0 0 rg BT 343.08 235.25 Td (is ) Tj ET Q q 0 0 0 rg BT 352.48 235.25 Td (the ) Tj ET Q q 0 0 0 rg BT 367.88 235.25 Td (average ) Tj ET Q q 0 0 0 rg BT 403.30 235.25 Td (number ) Tj ET Q q 0 0 0 rg BT 436.71 235.25 Td (of ) Tj ET Q q 0 0 0 rg BT 447.11 235.25 Td (days ) Tj ET Q q 0 0 0 rg BT 469.02 235.25 Td (needed ) Tj ET Q q 0 0 0 rg BT 501.95 235.25 Td (to ) Tj ET Q q 0 0 0 rg BT 512.35 235.25 Td (convert ) Tj ET Q q 0 0 0 rg BT 544.76 235.25 Td (our ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 221.75 Td (trade ) Tj ET Q q 0 0 0 rg BT 174.25 221.75 Td (receivables ) Tj ET Q q 0 0 0 rg BT 221.76 221.75 Td (and ) Tj ET Q q 0 0 0 rg BT 238.76 221.75 Td (work ) Tj ET Q q 0 0 0 rg BT 259.75 221.75 Td (in ) Tj ET Q q 0 0 0 rg BT 268.74 221.75 Td (progress ) Tj ET Q q 0 0 0 rg BT 305.74 221.75 Td (into ) Tj ET Q q 0 0 0 rg BT 322.24 221.75 Td (cash. ) Tj ET Q q 0 0 0 rg BT 345.74 221.75 Td (DSO ) Tj ET Q q 0 0 0 rg BT 367.23 221.75 Td (is ) Tj ET Q q 0 0 0 rg BT 375.71 221.75 Td (obtained ) Tj ET Q q 0 0 0 rg BT 412.23 221.75 Td (by ) Tj ET Q q 0 0 0 rg BT 423.72 221.75 Td (subtracting ) Tj ET Q q 0 0 0 rg BT 469.73 221.75 Td (deferred ) Tj ET Q q 0 0 0 rg BT 505.24 221.75 Td (revenue ) Tj ET Q q 0 0 0 rg BT 539.75 221.75 Td (from ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 208.25 Td (trade ) Tj ET Q q 0 0 0 rg BT 174.96 208.25 Td (accounts ) Tj ET Q q 0 0 0 rg BT 213.68 208.25 Td (receivable ) Tj ET Q q 0 0 0 rg BT 257.39 208.25 Td (and ) Tj ET Q q 0 0 0 rg BT 275.10 208.25 Td (work ) Tj ET Q q 0 0 0 rg BT 296.80 208.25 Td (in ) Tj ET Q q 0 0 0 rg BT 306.50 208.25 Td (progress; ) Tj ET Q q 0 0 0 rg BT 346.71 208.25 Td (the ) Tj ET Q q 0 0 0 rg BT 361.92 208.25 Td (result ) Tj ET Q q 0 0 0 rg BT 386.62 208.25 Td (is ) Tj ET Q q 0 0 0 rg BT 395.81 208.25 Td (divided ) Tj ET Q q 0 0 0 rg BT 427.03 208.25 Td (by ) Tj ET Q q 0 0 0 rg BT 439.23 208.25 Td (the ) Tj ET Q q 0 0 0 rg BT 454.44 208.25 Td (quarter) Tj ET Q q 0 0 0 rg BT 483.29 208.25 Td () Tj ET Q q 0 0 0 rg BT 485.12 208.25 Td (s ) Tj ET Q q 0 0 0 rg BT 492.32 208.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 527.54 208.25 Td (over ) Tj ET Q q 0 0 0 rg BT 547.74 208.25 Td (90 ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 194.75 Td (days. ) Tj ET Q q 0 0 0 rg BT 175.21 194.75 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 212.16 194.75 Td (revenue ) Tj ET Q q 0 0 0 rg BT 246.63 194.75 Td (is ) Tj ET Q q 0 0 0 rg BT 255.08 194.75 Td (net ) Tj ET Q q 0 0 0 rg BT 269.53 194.75 Td (of ) Tj ET Q q 0 0 0 rg BT 278.98 194.75 Td (the ) Tj ET Q q 0 0 0 rg BT 293.44 194.75 Td (fair ) Tj ET Q q 0 0 0 rg BT 307.88 194.75 Td (value ) Tj ET Q q 0 0 0 rg BT 331.34 194.75 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 381.81 194.75 Td (on ) Tj ET Q q 0 0 0 rg BT 393.76 194.75 Td (revenue-generating ) Tj ET Q q 0 0 0 rg BT 473.76 194.75 Td (contracts ) Tj ET Q q 0 0 0 rg BT 512.22 194.75 Td (established ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 181.25 Td (upon ) Tj ET Q q 0 0 0 rg BT 173.64 181.25 Td (a ) Tj ET Q q 0 0 0 rg BT 180.52 181.25 Td (business ) Tj ET Q q 0 0 0 rg BT 217.91 181.25 Td (combination. ) Tj ET Q q 0 0 0 rg BT 270.81 181.25 Td (Management ) Tj ET Q q 0 0 0 rg BT 325.21 181.25 Td (tracks ) Tj ET Q q 0 0 0 rg BT 351.09 181.25 Td (this ) Tj ET Q q 0 0 0 rg BT 366.96 181.25 Td (metric ) Tj ET Q q 0 0 0 rg BT 393.33 181.25 Td (closely ) Tj ET Q q 0 0 0 rg BT 422.71 181.25 Td (to ) Tj ET Q q 0 0 0 rg BT 432.09 181.25 Td (ensure ) Tj ET Q q 0 0 0 rg BT 461.48 181.25 Td (timely ) Tj ET Q q 0 0 0 rg BT 486.85 181.25 Td (collection, ) Tj ET Q q 0 0 0 rg BT 528.74 181.25 Td (healthy ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 167.75 Td (liquidity) Tj ET Q q 0 0 0 rg BT 181.10 167.75 Td (, ) Tj ET Q q 0 0 0 rg BT 186.97 167.75 Td (and ) Tj ET Q q 0 0 0 rg BT 205.37 167.75 Td (is ) Tj ET Q q 0 0 0 rg BT 215.24 167.75 Td (committed ) Tj ET Q q 0 0 0 rg BT 260.13 167.75 Td (to ) Tj ET Q q 0 0 0 rg BT 271.01 167.75 Td (a ) Tj ET Q q 0 0 0 rg BT 279.40 167.75 Td (DSO ) Tj ET Q q 0 0 0 rg BT 302.28 167.75 Td (target ) Tj ET Q q 0 0 0 rg BT 328.67 167.75 Td (of ) Tj ET Q q 0 0 0 rg BT 339.55 167.75 Td (45 ) Tj ET Q q 0 0 0 rg BT 352.94 167.75 Td (days ) Tj ET Q q 0 0 0 rg BT 375.33 167.75 Td (or ) Tj ET Q q 0 0 0 rg BT 386.71 167.75 Td (less. ) Tj ET Q q 0 0 0 rg BT 408.59 167.75 Td (W) Tj ET Q q 0 0 0 rg BT 416.92 167.75 Td (e ) Tj ET Q q 0 0 0 rg BT 425.30 167.75 Td (believe ) Tj ET Q q 0 0 0 rg BT 457.20 167.75 Td (this ) Tj ET Q q 0 0 0 rg BT 474.58 167.75 Td (measure ) Tj ET Q q 0 0 0 rg BT 512.97 167.75 Td (is ) Tj ET Q q 0 0 0 rg BT 522.85 167.75 Td (useful ) Tj ET Q q 0 0 0 rg BT 550.24 167.75 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 154.25 Td (investors ) Tj ET Q q 0 0 0 rg BT 190.74 154.25 Td (as ) Tj ET Q q 0 0 0 rg BT 203.22 154.25 Td (it ) Tj ET Q q 0 0 0 rg BT 210.69 154.25 Td (demonstrates ) Tj ET Q q 0 0 0 rg BT 268.19 154.25 Td (the ) Tj ET Q q 0 0 0 rg BT 283.68 154.25 Td (Company's ) Tj ET Q q 0 0 0 rg BT 331.39 154.25 Td (ability ) Tj ET Q q 0 0 0 rg BT 357.37 154.25 Td (to ) Tj ET Q q 0 0 0 rg BT 367.85 154.25 Td (timely ) Tj ET Q q 0 0 0 rg BT 394.33 154.25 Td (convert ) Tj ET Q q 0 0 0 rg BT 426.82 154.25 Td (its ) Tj ET Q q 0 0 0 rg BT 438.79 154.25 Td (trade ) Tj ET Q q 0 0 0 rg BT 462.28 154.25 Td (receivables ) Tj ET Q q 0 0 0 rg BT 510.77 154.25 Td (and ) Tj ET Q q 0 0 0 rg BT 528.77 154.25 Td (work ) Tj ET Q q 0 0 0 rg BT 550.74 154.25 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 140.75 Td (progress ) Tj ET Q q 0 0 0 rg BT 189.27 140.75 Td (into ) Tj ET Q q 0 0 0 rg BT 206.28 140.75 Td (cash.) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 9 0 obj <> endobj 10 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 554.85 22.10 Td (3) Tj ET Q BT /F1 10.00 Tf ET 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 72.25 715.00 68.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 72.25 711.00 68.00 -67.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 72.25 644.00 68.00 -81.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 72.25 563.00 68.00 -95.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 72.25 468.00 68.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 72.25 464.00 68.00 -79.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 72.25 385.00 68.00 -66.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 72.25 319.00 68.00 -67.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 72.25 252.00 68.00 -67.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 72.25 185.00 68.00 -4.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 715 m 72.25 711 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 715 m 140.25 711 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 715 m 140.25 715 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 715 m 149.25 715 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 561.25 715 m 561.25 711 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 149.25 715 m 561.25 715 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 711 m 72.25 644 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 711 m 140.25 644 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 711 m 140.25 644 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 561.25 711 m 561.25 644 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 644 m 72.25 563 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 644 m 140.25 563 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 644 m 140.25 563 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 561.25 644 m 561.25 563 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 563 m 72.25 468 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 563 m 140.25 468 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 563 m 140.25 468 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 561.25 563 m 561.25 468 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 468 m 72.25 464 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 468 m 140.25 464 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 464 m 140.25 464 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 464 m 149.25 464 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 561.25 468 m 561.25 464 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 149.25 464 m 561.25 464 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 464 m 72.25 385 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 464 m 140.25 385 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 464 m 140.25 385 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 561.25 464 m 561.25 385 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 385 m 72.25 319 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 385 m 140.25 319 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 385 m 140.25 319 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 561.25 385 m 561.25 319 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 319 m 72.25 252 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 319 m 140.25 252 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 319 m 140.25 252 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 561.25 319 m 561.25 252 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 252 m 72.25 185 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 252 m 140.25 185 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 252 m 140.25 185 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 561.25 252 m 561.25 185 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 185 m 72.25 181 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 185 m 140.25 181 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 181 m 140.25 181 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 140.25 181 m 149.25 181 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 561.25 185 m 561.25 181 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 149.25 181 m 561.25 181 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 74.75 701.95 Td (Growth) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.75 701.57 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 701.95 Td (Constant ) Tj ET Q q 0 0 0 rg BT 189.19 701.95 Td (currency ) Tj ET Q q 0 0 0 rg BT 225.12 701.95 Td (growth ) Tj ET Q q 0 0 0 rg BT 253.54 701.95 Td (\(non-GAAP\) ) Tj ET Q q 0 0 0 rg BT 303.98 701.95 Td ( ) Tj ET Q q 0 0 0 rg BT 310.40 701.95 Td (is ) Tj ET Q q 0 0 0 rg BT 318.32 701.95 Td (a ) Tj ET Q q 0 0 0 rg BT 324.74 701.95 Td (measure ) Tj ET Q q 0 0 0 rg BT 361.17 701.95 Td (of ) Tj ET Q q 0 0 0 rg BT 370.09 701.95 Td (revenue ) Tj ET Q q 0 0 0 rg BT 404.03 701.95 Td (growth ) Tj ET Q q 0 0 0 rg BT 432.46 701.95 Td (before ) Tj ET Q q 0 0 0 rg BT 459.40 701.95 Td (foreign ) Tj ET Q q 0 0 0 rg BT 488.33 701.95 Td (currency ) Tj ET Q q 0 0 0 rg BT 524.26 701.95 Td (impacts. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 688.45 Td (This ) Tj ET Q q 0 0 0 rg BT 170.54 688.45 Td (growth ) Tj ET Q q 0 0 0 rg BT 199.34 688.45 Td (is ) Tj ET Q q 0 0 0 rg BT 207.63 688.45 Td (calculated ) Tj ET Q q 0 0 0 rg BT 249.94 688.45 Td (by ) Tj ET Q q 0 0 0 rg BT 261.23 688.45 Td (translating ) Tj ET Q q 0 0 0 rg BT 304.55 688.45 Td (current ) Tj ET Q q 0 0 0 rg BT 334.34 688.45 Td (period ) Tj ET Q q 0 0 0 rg BT 361.15 688.45 Td (results ) Tj ET Q q 0 0 0 rg BT 389.45 688.45 Td (in ) Tj ET Q q 0 0 0 rg BT 398.24 688.45 Td (local ) Tj ET Q q 0 0 0 rg BT 418.54 688.45 Td (currency ) Tj ET Q q 0 0 0 rg BT 454.83 688.45 Td (using ) Tj ET Q q 0 0 0 rg BT 478.14 688.45 Td (the ) Tj ET Q q 0 0 0 rg BT 492.44 688.45 Td (conversion ) Tj ET Q q 0 0 0 rg BT 537.75 688.45 Td (rates ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 674.95 Td (in ) Tj ET Q q 0 0 0 rg BT 161.27 674.95 Td (the ) Tj ET Q q 0 0 0 rg BT 176.30 674.95 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 219.85 674.95 Td (period ) Tj ET Q q 0 0 0 rg BT 247.38 674.95 Td (from ) Tj ET Q q 0 0 0 rg BT 267.90 674.95 Td (the ) Tj ET Q q 0 0 0 rg BT 282.93 674.95 Td (prior ) Tj ET Q q 0 0 0 rg BT 303.45 674.95 Td (year) Tj ET Q q 0 0 0 rg BT 320.71 674.95 Td (. ) Tj ET Q q 0 0 0 rg BT 325.48 674.95 Td (Management ) Tj ET Q q 0 0 0 rg BT 380.52 674.95 Td (believes ) Tj ET Q q 0 0 0 rg BT 416.06 674.95 Td (that ) Tj ET Q q 0 0 0 rg BT 433.59 674.95 Td (it ) Tj ET Q q 0 0 0 rg BT 440.61 674.95 Td (is ) Tj ET Q q 0 0 0 rg BT 449.62 674.95 Td (helpful ) Tj ET Q q 0 0 0 rg BT 478.66 674.95 Td (to ) Tj ET Q q 0 0 0 rg BT 488.68 674.95 Td (adjust ) Tj ET Q q 0 0 0 rg BT 515.22 674.95 Td (revenue ) Tj ET Q q 0 0 0 rg BT 550.26 674.95 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 661.45 Td (exclude ) Tj ET Q q 0 0 0 rg BT 187.34 661.45 Td (the ) Tj ET Q q 0 0 0 rg BT 204.43 661.45 Td (impact ) Tj ET Q q 0 0 0 rg BT 235.51 661.45 Td (of ) Tj ET Q q 0 0 0 rg BT 247.59 661.45 Td (currency ) Tj ET Q q 0 0 0 rg BT 286.67 661.45 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 336.78 661.45 Td (to ) Tj ET Q q 0 0 0 rg BT 348.86 661.45 Td (facilitate ) Tj ET Q q 0 0 0 rg BT 386.45 661.45 Td (period-to-period ) Tj ET Q q 0 0 0 rg BT 454.56 661.45 Td (comparisons ) Tj ET Q q 0 0 0 rg BT 510.15 661.45 Td (of ) Tj ET Q q 0 0 0 rg BT 522.23 661.45 Td (business ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 647.95 Td (performance. ) Tj ET Q q 0 0 0 rg BT 207.27 647.95 Td (W) Tj ET Q q 0 0 0 rg BT 215.69 647.95 Td (e ) Tj ET Q q 0 0 0 rg BT 223.11 647.95 Td (believe ) Tj ET Q q 0 0 0 rg BT 254.13 647.95 Td (that ) Tj ET Q q 0 0 0 rg BT 271.65 647.95 Td (this ) Tj ET Q q 0 0 0 rg BT 288.15 647.95 Td (measure ) Tj ET Q q 0 0 0 rg BT 325.67 647.95 Td (is ) Tj ET Q q 0 0 0 rg BT 334.67 647.95 Td (useful ) Tj ET Q q 0 0 0 rg BT 361.18 647.95 Td (to ) Tj ET Q q 0 0 0 rg BT 371.19 647.95 Td (investors ) Tj ET Q q 0 0 0 rg BT 409.70 647.95 Td (for ) Tj ET Q q 0 0 0 rg BT 422.71 647.95 Td (the ) Tj ET Q q 0 0 0 rg BT 437.72 647.95 Td (same ) Tj ET Q q 0 0 0 rg BT 462.23 647.95 Td (reason.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.75 634.57 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 634.95 Td (Backlog ) Tj ET Q q 0 0 0 rg BT 186.20 634.95 Td (\(non-GAAP\) ) Tj ET Q q 0 0 0 rg BT 237.65 634.95 Td ( ) Tj ET Q q 0 0 0 rg BT 245.09 634.95 Td (includes ) Tj ET Q q 0 0 0 rg BT 280.54 634.95 Td (new ) Tj ET Q q 0 0 0 rg BT 299.48 634.95 Td (contract ) Tj ET Q q 0 0 0 rg BT 333.93 634.95 Td (wins, ) Tj ET Q q 0 0 0 rg BT 356.87 634.95 Td (extensions ) Tj ET Q q 0 0 0 rg BT 402.32 634.95 Td (and ) Tj ET Q q 0 0 0 rg BT 419.77 634.95 Td (renewals ) Tj ET Q q 0 0 0 rg BT 458.22 634.95 Td (\(bookings\(non-GAAP\)\), ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 621.45 Td (partially ) Tj ET Q q 0 0 0 rg BT 186.26 621.45 Td (of) Tj ET Q q 0 0 0 rg BT 193.68 621.45 Td (fset ) Tj ET Q q 0 0 0 rg BT 211.61 621.45 Td (by ) Tj ET Q q 0 0 0 rg BT 224.61 621.45 Td (the ) Tj ET Q q 0 0 0 rg BT 240.62 621.45 Td (backlog ) Tj ET Q q 0 0 0 rg BT 275.14 621.45 Td (consumed ) Tj ET Q q 0 0 0 rg BT 320.16 621.45 Td (during ) Tj ET Q q 0 0 0 rg BT 348.68 621.45 Td (the ) Tj ET Q q 0 0 0 rg BT 364.69 621.45 Td (period ) Tj ET Q q 0 0 0 rg BT 393.20 621.45 Td (as ) Tj ET Q q 0 0 0 rg BT 406.21 621.45 Td (a ) Tj ET Q q 0 0 0 rg BT 414.71 621.45 Td (result ) Tj ET Q q 0 0 0 rg BT 440.22 621.45 Td (of ) Tj ET Q q 0 0 0 rg BT 451.22 621.45 Td (client ) Tj ET Q q 0 0 0 rg BT 475.73 621.45 Td (work ) Tj ET Q q 0 0 0 rg BT 498.23 621.45 Td (performed ) Tj ET Q q 0 0 0 rg BT 542.74 621.45 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 607.95 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 203.80 607.95 Td (related ) Tj ET Q q 0 0 0 rg BT 234.83 607.95 Td (to ) Tj ET Q q 0 0 0 rg BT 245.86 607.95 Td (the ) Tj ET Q q 0 0 0 rg BT 261.89 607.95 Td (volume, ) Tj ET Q q 0 0 0 rg BT 296.93 607.95 Td (cancellation ) Tj ET Q q 0 0 0 rg BT 347.98 607.95 Td (and ) Tj ET Q q 0 0 0 rg BT 366.52 607.95 Td (the ) Tj ET Q q 0 0 0 rg BT 382.55 607.95 Td (impact ) Tj ET Q q 0 0 0 rg BT 412.58 607.95 Td (of ) Tj ET Q q 0 0 0 rg BT 423.61 607.95 Td (foreign ) Tj ET Q q 0 0 0 rg BT 454.65 607.95 Td (currencies ) Tj ET Q q 0 0 0 rg BT 499.68 607.95 Td (to ) Tj ET Q q 0 0 0 rg BT 510.71 607.95 Td (our ) Tj ET Q q 0 0 0 rg BT 527.24 607.95 Td (existing ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 594.45 Td (contracts. ) Tj ET Q q 0 0 0 rg BT 193.29 594.45 Td (Backlog ) Tj ET Q q 0 0 0 rg BT 227.84 594.45 Td (incorporates ) Tj ET Q q 0 0 0 rg BT 279.89 594.45 Td (estimates ) Tj ET Q q 0 0 0 rg BT 320.93 594.45 Td (from ) Tj ET Q q 0 0 0 rg BT 341.46 594.45 Td (management ) Tj ET Q q 0 0 0 rg BT 396.52 594.45 Td (that ) Tj ET Q q 0 0 0 rg BT 414.06 594.45 Td (are ) Tj ET Q q 0 0 0 rg BT 429.59 594.45 Td (subject ) Tj ET Q q 0 0 0 rg BT 460.64 594.45 Td (to ) Tj ET Q q 0 0 0 rg BT 470.67 594.45 Td (change. ) Tj ET Q q 0 0 0 rg BT 505.23 594.45 Td (Management ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 580.95 Td (tracks ) Tj ET Q q 0 0 0 rg BT 178.31 580.95 Td (this ) Tj ET Q q 0 0 0 rg BT 194.88 580.95 Td (measure ) Tj ET Q q 0 0 0 rg BT 232.46 580.95 Td (as ) Tj ET Q q 0 0 0 rg BT 244.53 580.95 Td (it ) Tj ET Q q 0 0 0 rg BT 251.59 580.95 Td (is ) Tj ET Q q 0 0 0 rg BT 260.65 580.95 Td (a ) Tj ET Q q 0 0 0 rg BT 268.21 580.95 Td (key ) Tj ET Q q 0 0 0 rg BT 284.78 580.95 Td (indicator ) Tj ET Q q 0 0 0 rg BT 321.36 580.95 Td (of ) Tj ET Q q 0 0 0 rg BT 331.43 580.95 Td (management's ) Tj ET Q q 0 0 0 rg BT 392.74 580.95 Td (best ) Tj ET Q q 0 0 0 rg BT 412.31 580.95 Td (estimate ) Tj ET Q q 0 0 0 rg BT 448.89 580.95 Td (of ) Tj ET Q q 0 0 0 rg BT 458.96 580.95 Td (revenue ) Tj ET Q q 0 0 0 rg BT 494.04 580.95 Td (to ) Tj ET Q q 0 0 0 rg BT 504.11 580.95 Td (be ) Tj ET Q q 0 0 0 rg BT 516.68 580.95 Td (realized ) Tj ET Q q 0 0 0 rg BT 550.76 580.95 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 567.45 Td (the ) Tj ET Q q 0 0 0 rg BT 166.76 567.45 Td (future ) Tj ET Q q 0 0 0 rg BT 192.28 567.45 Td (and ) Tj ET Q q 0 0 0 rg BT 209.79 567.45 Td (believes ) Tj ET Q q 0 0 0 rg BT 245.31 567.45 Td (that ) Tj ET Q q 0 0 0 rg BT 262.83 567.45 Td (this ) Tj ET Q q 0 0 0 rg BT 279.33 567.45 Td (measure ) Tj ET Q q 0 0 0 rg BT 316.85 567.45 Td (is ) Tj ET Q q 0 0 0 rg BT 325.85 567.45 Td (useful ) Tj ET Q q 0 0 0 rg BT 352.36 567.45 Td (to ) Tj ET Q q 0 0 0 rg BT 362.37 567.45 Td (investors ) Tj ET Q q 0 0 0 rg BT 400.88 567.45 Td (for ) Tj ET Q q 0 0 0 rg BT 413.89 567.45 Td (the ) Tj ET Q q 0 0 0 rg BT 428.90 567.45 Td (same ) Tj ET Q q 0 0 0 rg BT 453.41 567.45 Td (reason.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.75 553.57 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 553.95 Td (Book-to-bill ) Tj ET Q q 0 0 0 rg BT 198.51 553.95 Td (ratio ) Tj ET Q q 0 0 0 rg BT 217.75 553.95 Td (\(non-GAAP\) ) Tj ET Q q 0 0 0 rg BT 268.51 553.95 Td ( ) Tj ET Q q 0 0 0 rg BT 275.25 553.95 Td (is ) Tj ET Q q 0 0 0 rg BT 283.49 553.95 Td (a ) Tj ET Q q 0 0 0 rg BT 290.23 553.95 Td (measure ) Tj ET Q q 0 0 0 rg BT 326.99 553.95 Td (of ) Tj ET Q q 0 0 0 rg BT 336.23 553.95 Td (the ) Tj ET Q q 0 0 0 rg BT 350.48 553.95 Td (proportion ) Tj ET Q q 0 0 0 rg BT 392.75 553.95 Td (of ) Tj ET Q q 0 0 0 rg BT 401.99 553.95 Td (the ) Tj ET Q q 0 0 0 rg BT 416.24 553.95 Td (value ) Tj ET Q q 0 0 0 rg BT 439.50 553.95 Td (of ) Tj ET Q q 0 0 0 rg BT 448.74 553.95 Td (our ) Tj ET Q q 0 0 0 rg BT 463.49 553.95 Td (bookings ) Tj ET Q q 0 0 0 rg BT 501.25 553.95 Td (to ) Tj ET Q q 0 0 0 rg BT 510.50 553.95 Td (our ) Tj ET Q q 0 0 0 rg BT 525.25 553.95 Td (revenue ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 540.45 Td (in ) Tj ET Q q 0 0 0 rg BT 161.32 540.45 Td (the ) Tj ET Q q 0 0 0 rg BT 176.39 540.45 Td (period. ) Tj ET Q q 0 0 0 rg BT 206.38 540.45 Td (This ) Tj ET Q q 0 0 0 rg BT 225.87 540.45 Td (metric ) Tj ET Q q 0 0 0 rg BT 252.93 540.45 Td (allows ) Tj ET Q q 0 0 0 rg BT 280.50 540.45 Td (management ) Tj ET Q q 0 0 0 rg BT 335.59 540.45 Td (to ) Tj ET Q q 0 0 0 rg BT 345.66 540.45 Td (monitor ) Tj ET Q q 0 0 0 rg BT 378.23 540.45 Td (the ) Tj ET Q q 0 0 0 rg BT 393.30 540.45 Td (Company) Tj ET Q q 0 0 0 rg BT 433.74 540.45 Td (s ) Tj ET Q q 0 0 0 rg BT 440.72 540.45 Td (business ) Tj ET Q q 0 0 0 rg BT 478.80 540.45 Td (development ) Tj ET Q q 0 0 0 rg BT 532.90 540.45 Td (ef) Tj ET Q q 0 0 0 rg BT 540.32 540.45 Td (forts ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 526.95 Td (to ) Tj ET Q q 0 0 0 rg BT 161.91 526.95 Td (ensure ) Tj ET Q q 0 0 0 rg BT 192.09 526.95 Td (we ) Tj ET Q q 0 0 0 rg BT 206.25 526.95 Td (grow ) Tj ET Q q 0 0 0 rg BT 228.41 526.95 Td (our ) Tj ET Q q 0 0 0 rg BT 244.07 526.95 Td (backlog ) Tj ET Q q 0 0 0 rg BT 277.75 526.95 Td (and ) Tj ET Q q 0 0 0 rg BT 295.42 526.95 Td (our ) Tj ET Q q 0 0 0 rg BT 311.09 526.95 Td (business ) Tj ET Q q 0 0 0 rg BT 349.26 526.95 Td (over ) Tj ET Q q 0 0 0 rg BT 369.43 526.95 Td (time ) Tj ET Q q 0 0 0 rg BT 389.08 526.95 Td (and ) Tj ET Q q 0 0 0 rg BT 406.76 526.95 Td (believes ) Tj ET Q q 0 0 0 rg BT 442.43 526.95 Td (that ) Tj ET Q q 0 0 0 rg BT 460.10 526.95 Td (this ) Tj ET Q q 0 0 0 rg BT 476.76 526.95 Td (measure ) Tj ET Q q 0 0 0 rg BT 514.43 526.95 Td (is ) Tj ET Q q 0 0 0 rg BT 523.59 526.95 Td (useful ) Tj ET Q q 0 0 0 rg BT 550.26 526.95 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 513.45 Td (investors ) Tj ET Q q 0 0 0 rg BT 190.94 513.45 Td (for ) Tj ET Q q 0 0 0 rg BT 204.62 513.45 Td (the ) Tj ET Q q 0 0 0 rg BT 220.31 513.45 Td (same ) Tj ET Q q 0 0 0 rg BT 245.50 513.45 Td (reason. ) Tj ET Q q 0 0 0 rg BT 278.70 513.45 Td (Management ) Tj ET Q q 0 0 0 rg BT 334.41 513.45 Td (remains ) Tj ET Q q 0 0 0 rg BT 369.59 513.45 Td (committed ) Tj ET Q q 0 0 0 rg BT 414.28 513.45 Td (to ) Tj ET Q q 0 0 0 rg BT 424.97 513.45 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 474.17 513.45 Td (a ) Tj ET Q q 0 0 0 rg BT 482.36 513.45 Td (target ) Tj ET Q q 0 0 0 rg BT 508.55 513.45 Td (ratio ) Tj ET Q q 0 0 0 rg BT 529.24 513.45 Td (greater ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 499.95 Td (than ) Tj ET Q q 0 0 0 rg BT 173.49 499.95 Td (100% ) Tj ET Q q 0 0 0 rg BT 200.72 499.95 Td (over ) Tj ET Q q 0 0 0 rg BT 222.45 499.95 Td (a ) Tj ET Q q 0 0 0 rg BT 231.67 499.95 Td (trailing ) Tj ET Q q 0 0 0 rg BT 262.40 499.95 Td (12-month ) Tj ET Q q 0 0 0 rg BT 304.64 499.95 Td (period. ) Tj ET Q q 0 0 0 rg BT 336.38 499.95 Td (Management ) Tj ET Q q 0 0 0 rg BT 393.13 499.95 Td (believes ) Tj ET Q q 0 0 0 rg BT 430.37 499.95 Td (that ) Tj ET Q q 0 0 0 rg BT 449.60 499.95 Td (a ) Tj ET Q q 0 0 0 rg BT 458.83 499.95 Td (longer ) Tj ET Q q 0 0 0 rg BT 488.06 499.95 Td (period ) Tj ET Q q 0 0 0 rg BT 517.30 499.95 Td (is ) Tj ET Q q 0 0 0 rg BT 528.02 499.95 Td (a ) Tj ET Q q 0 0 0 rg BT 537.24 499.95 Td (more ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 486.45 Td (representative ) Tj ET Q q 0 0 0 rg BT 211.07 486.45 Td (measure ) Tj ET Q q 0 0 0 rg BT 248.37 486.45 Td (as ) Tj ET Q q 0 0 0 rg BT 260.16 486.45 Td (the ) Tj ET Q q 0 0 0 rg BT 274.96 486.45 Td (services ) Tj ET Q q 0 0 0 rg BT 310.25 486.45 Td (and ) Tj ET Q q 0 0 0 rg BT 327.56 486.45 Td (contract ) Tj ET Q q 0 0 0 rg BT 361.86 486.45 Td (type, ) Tj ET Q q 0 0 0 rg BT 383.66 486.45 Td (size ) Tj ET Q q 0 0 0 rg BT 401.95 486.45 Td (and ) Tj ET Q q 0 0 0 rg BT 419.25 486.45 Td (timing ) Tj ET Q q 0 0 0 rg BT 445.54 486.45 Td (of ) Tj ET Q q 0 0 0 rg BT 455.34 486.45 Td (bookings ) Tj ET Q q 0 0 0 rg BT 493.65 486.45 Td (could ) Tj ET Q q 0 0 0 rg BT 517.45 486.45 Td (cause ) Tj ET Q q 0 0 0 rg BT 543.76 486.45 Td (this ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 472.95 Td (measurement ) Tj ET Q q 0 0 0 rg BT 209.27 472.95 Td (to ) Tj ET Q q 0 0 0 rg BT 219.28 472.95 Td (fluctuate ) Tj ET Q q 0 0 0 rg BT 255.80 472.95 Td (significantly ) Tj ET Q q 0 0 0 rg BT 304.82 472.95 Td (if ) Tj ET Q q 0 0 0 rg BT 311.83 472.95 Td (taken ) Tj ET Q q 0 0 0 rg BT 336.34 472.95 Td (for ) Tj ET Q q 0 0 0 rg BT 349.35 472.95 Td (only ) Tj ET Q q 0 0 0 rg BT 368.36 472.95 Td (a ) Tj ET Q q 0 0 0 rg BT 375.86 472.95 Td (three-month ) Tj ET Q q 0 0 0 rg BT 426.89 472.95 Td (period.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 74.75 454.95 Td (Capital) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 74.75 441.45 Td (Structure) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.75 454.57 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 454.95 Td (Net ) Tj ET Q q 0 0 0 rg BT 168.27 454.95 Td (debt ) Tj ET Q q 0 0 0 rg BT 188.31 454.95 Td (\(non-GAAP\) ) Tj ET Q q 0 0 0 rg BT 239.85 454.95 Td ( ) Tj ET Q q 0 0 0 rg BT 247.37 454.95 Td (is ) Tj ET Q q 0 0 0 rg BT 256.39 454.95 Td (obtained ) Tj ET Q q 0 0 0 rg BT 293.44 454.95 Td (by ) Tj ET Q q 0 0 0 rg BT 305.46 454.95 Td (subtracting ) Tj ET Q q 0 0 0 rg BT 352.01 454.95 Td (from ) Tj ET Q q 0 0 0 rg BT 372.53 454.95 Td (our ) Tj ET Q q 0 0 0 rg BT 388.05 454.95 Td (debt ) Tj ET Q q 0 0 0 rg BT 408.09 454.95 Td (our ) Tj ET Q q 0 0 0 rg BT 423.62 454.95 Td (cash ) Tj ET Q q 0 0 0 rg BT 445.15 454.95 Td (and ) Tj ET Q q 0 0 0 rg BT 462.68 454.95 Td (cash ) Tj ET Q q 0 0 0 rg BT 484.21 454.95 Td (equivalents, ) Tj ET Q q 0 0 0 rg BT 534.76 454.95 Td (short-) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 441.45 Td (term ) Tj ET Q q 0 0 0 rg BT 175.33 441.45 Td (investments, ) Tj ET Q q 0 0 0 rg BT 231.42 441.45 Td (long-term ) Tj ET Q q 0 0 0 rg BT 275.01 441.45 Td (investments ) Tj ET Q q 0 0 0 rg BT 328.61 441.45 Td (and ) Tj ET Q q 0 0 0 rg BT 349.20 441.45 Td (fair ) Tj ET Q q 0 0 0 rg BT 367.28 441.45 Td (value ) Tj ET Q q 0 0 0 rg BT 394.37 441.45 Td (of ) Tj ET Q q 0 0 0 rg BT 407.45 441.45 Td (foreign ) Tj ET Q q 0 0 0 rg BT 440.55 441.45 Td (currency ) Tj ET Q q 0 0 0 rg BT 480.64 441.45 Td (derivative ) Tj ET Q q 0 0 0 rg BT 524.73 441.45 Td (financial ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 427.95 Td (instruments ) Tj ET Q q 0 0 0 rg BT 200.99 427.95 Td (related ) Tj ET Q q 0 0 0 rg BT 231.23 427.95 Td (to ) Tj ET Q q 0 0 0 rg BT 241.45 427.95 Td (debt. ) Tj ET Q q 0 0 0 rg BT 264.19 427.95 Td (Management ) Tj ET Q q 0 0 0 rg BT 319.44 427.95 Td (uses ) Tj ET Q q 0 0 0 rg BT 341.17 427.95 Td (the ) Tj ET Q q 0 0 0 rg BT 356.40 427.95 Td (net ) Tj ET Q q 0 0 0 rg BT 371.63 427.95 Td (debt ) Tj ET Q q 0 0 0 rg BT 391.87 427.95 Td (metric ) Tj ET Q q 0 0 0 rg BT 419.09 427.95 Td (to ) Tj ET Q q 0 0 0 rg BT 429.32 427.95 Td (monitor ) Tj ET Q q 0 0 0 rg BT 462.05 427.95 Td (the ) Tj ET Q q 0 0 0 rg BT 477.28 427.95 Td (Company's ) Tj ET Q q 0 0 0 rg BT 524.74 427.95 Td (financial ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 414.45 Td (leverage. ) Tj ET Q q 0 0 0 rg BT 190.54 414.45 Td (W) Tj ET Q q 0 0 0 rg BT 198.95 414.45 Td (e ) Tj ET Q q 0 0 0 rg BT 205.64 414.45 Td (believe ) Tj ET Q q 0 0 0 rg BT 235.92 414.45 Td (that ) Tj ET Q q 0 0 0 rg BT 252.70 414.45 Td (this ) Tj ET Q q 0 0 0 rg BT 268.46 414.45 Td (metric ) Tj ET Q q 0 0 0 rg BT 294.73 414.45 Td (is ) Tj ET Q q 0 0 0 rg BT 302.99 414.45 Td (useful ) Tj ET Q q 0 0 0 rg BT 328.77 414.45 Td (to ) Tj ET Q q 0 0 0 rg BT 338.04 414.45 Td (investors ) Tj ET Q q 0 0 0 rg BT 375.81 414.45 Td (as ) Tj ET Q q 0 0 0 rg BT 387.08 414.45 Td (it ) Tj ET Q q 0 0 0 rg BT 393.35 414.45 Td (provides ) Tj ET Q q 0 0 0 rg BT 429.13 414.45 Td (insight ) Tj ET Q q 0 0 0 rg BT 456.91 414.45 Td (into ) Tj ET Q q 0 0 0 rg BT 473.18 414.45 Td (our ) Tj ET Q q 0 0 0 rg BT 487.95 414.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 522.74 414.45 Td (strength. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 400.95 Td (A) Tj ET Q q 0 0 0 rg BT 157.50 400.95 Td ( ) Tj ET Q q 0 0 0 rg BT 160.88 400.95 Td (reconciliation ) Tj ET Q q 0 0 0 rg BT 217.04 400.95 Td (of ) Tj ET Q q 0 0 0 rg BT 228.17 400.95 Td (net ) Tj ET Q q 0 0 0 rg BT 244.31 400.95 Td (debt ) Tj ET Q q 0 0 0 rg BT 265.46 400.95 Td (to ) Tj ET Q q 0 0 0 rg BT 276.59 400.95 Td (its ) Tj ET Q q 0 0 0 rg BT 289.22 400.95 Td (closest ) Tj ET Q q 0 0 0 rg BT 320.85 400.95 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 344.98 400.95 Td (measure ) Tj ET Q q 0 0 0 rg BT 383.63 400.95 Td (can ) Tj ET Q q 0 0 0 rg BT 401.76 400.95 Td (be ) Tj ET Q q 0 0 0 rg BT 415.40 400.95 Td (found ) Tj ET Q q 0 0 0 rg BT 441.55 400.95 Td (in ) Tj ET Q q 0 0 0 rg BT 452.18 400.95 Td (section ) Tj ET Q q 0 0 0 rg BT 484.33 400.95 Td (4.5 ) Tj ET Q q 0 0 0 rg BT 500.47 400.95 Td (of ) Tj ET Q q 0 0 0 rg BT 511.60 400.95 Td (the ) Tj ET Q q 0 0 0 rg BT 527.74 400.95 Td (present ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 387.45 Td (document.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.75 375.57 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 375.95 Td (Net ) Tj ET Q q 0 0 0 rg BT 167.24 375.95 Td (debt ) Tj ET Q q 0 0 0 rg BT 186.25 375.95 Td (to ) Tj ET Q q 0 0 0 rg BT 195.24 375.95 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 248.76 375.95 Td (ratio ) Tj ET Q q 0 0 0 rg BT 267.75 375.95 Td (\(non-GAAP\) ) Tj ET Q q 0 0 0 rg BT 318.26 375.95 Td ( ) Tj ET Q q 0 0 0 rg BT 324.75 375.95 Td (is ) Tj ET Q q 0 0 0 rg BT 332.74 375.95 Td (a ) Tj ET Q q 0 0 0 rg BT 339.23 375.95 Td (measure ) Tj ET Q q 0 0 0 rg BT 375.73 375.95 Td (of ) Tj ET Q q 0 0 0 rg BT 384.73 375.95 Td (our ) Tj ET Q q 0 0 0 rg BT 399.22 375.95 Td (level ) Tj ET Q q 0 0 0 rg BT 419.22 375.95 Td (of ) Tj ET Q q 0 0 0 rg BT 428.21 375.95 Td (financial ) Tj ET Q q 0 0 0 rg BT 462.72 375.95 Td (leverage ) Tj ET Q q 0 0 0 rg BT 498.73 375.95 Td (and ) Tj ET Q q 0 0 0 rg BT 515.23 375.95 Td (is ) Tj ET Q q 0 0 0 rg BT 523.22 375.95 Td (obtained ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 362.45 Td (by ) Tj ET Q q 0 0 0 rg BT 163.62 362.45 Td (dividing ) Tj ET Q q 0 0 0 rg BT 196.50 362.45 Td (the ) Tj ET Q q 0 0 0 rg BT 211.37 362.45 Td (net ) Tj ET Q q 0 0 0 rg BT 226.25 362.45 Td (debt ) Tj ET Q q 0 0 0 rg BT 246.13 362.45 Td (by ) Tj ET Q q 0 0 0 rg BT 257.99 362.45 Td (the ) Tj ET Q q 0 0 0 rg BT 272.87 362.45 Td (sum ) Tj ET Q q 0 0 0 rg BT 292.23 362.45 Td (of ) Tj ET Q q 0 0 0 rg BT 302.10 362.45 Td (shareholder's ) Tj ET Q q 0 0 0 rg BT 358.21 362.45 Td (equity ) Tj ET Q q 0 0 0 rg BT 384.59 362.45 Td (and ) Tj ET Q q 0 0 0 rg BT 401.97 362.45 Td (debt. ) Tj ET Q q 0 0 0 rg BT 424.35 362.45 Td (Management ) Tj ET Q q 0 0 0 rg BT 479.24 362.45 Td (uses ) Tj ET Q q 0 0 0 rg BT 500.62 362.45 Td (the ) Tj ET Q q 0 0 0 rg BT 515.49 362.45 Td (net ) Tj ET Q q 0 0 0 rg BT 530.36 362.45 Td (debt ) Tj ET Q q 0 0 0 rg BT 550.24 362.45 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 348.95 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 206.13 348.95 Td (metric ) Tj ET Q q 0 0 0 rg BT 232.98 348.95 Td (to ) Tj ET Q q 0 0 0 rg BT 242.84 348.95 Td (monitor ) Tj ET Q q 0 0 0 rg BT 275.20 348.95 Td (the ) Tj ET Q q 0 0 0 rg BT 290.07 348.95 Td (proportion ) Tj ET Q q 0 0 0 rg BT 332.94 348.95 Td (of ) Tj ET Q q 0 0 0 rg BT 342.80 348.95 Td (debt ) Tj ET Q q 0 0 0 rg BT 362.67 348.95 Td (versus ) Tj ET Q q 0 0 0 rg BT 391.53 348.95 Td (capital ) Tj ET Q q 0 0 0 rg BT 419.90 348.95 Td (used ) Tj ET Q q 0 0 0 rg BT 441.76 348.95 Td (to ) Tj ET Q q 0 0 0 rg BT 451.62 348.95 Td (finance ) Tj ET Q q 0 0 0 rg BT 482.99 348.95 Td (our ) Tj ET Q q 0 0 0 rg BT 498.35 348.95 Td (operations ) Tj ET Q q 0 0 0 rg BT 542.73 348.95 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 335.45 Td (to ) Tj ET Q q 0 0 0 rg BT 160.89 335.45 Td (assess ) Tj ET Q q 0 0 0 rg BT 190.53 335.45 Td (the ) Tj ET Q q 0 0 0 rg BT 204.68 335.45 Td (Company's ) Tj ET Q q 0 0 0 rg BT 251.05 335.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 285.70 335.45 Td (strength. ) Tj ET Q q 0 0 0 rg BT 322.36 335.45 Td (W) Tj ET Q q 0 0 0 rg BT 330.77 335.45 Td (e ) Tj ET Q q 0 0 0 rg BT 337.33 335.45 Td (believe ) Tj ET Q q 0 0 0 rg BT 367.48 335.45 Td (that ) Tj ET Q q 0 0 0 rg BT 384.13 335.45 Td (this ) Tj ET Q q 0 0 0 rg BT 399.77 335.45 Td (metric ) Tj ET Q q 0 0 0 rg BT 425.90 335.45 Td (is ) Tj ET Q q 0 0 0 rg BT 434.03 335.45 Td (useful ) Tj ET Q q 0 0 0 rg BT 459.68 335.45 Td (to ) Tj ET Q q 0 0 0 rg BT 468.82 335.45 Td (investors ) Tj ET Q q 0 0 0 rg BT 506.47 335.45 Td (as ) Tj ET Q q 0 0 0 rg BT 517.61 335.45 Td (it ) Tj ET Q q 0 0 0 rg BT 523.74 335.45 Td (provides ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 321.95 Td (insight ) Tj ET Q q 0 0 0 rg BT 180.27 321.95 Td (into ) Tj ET Q q 0 0 0 rg BT 197.28 321.95 Td (our ) Tj ET Q q 0 0 0 rg BT 212.79 321.95 Td (financial ) Tj ET Q q 0 0 0 rg BT 248.31 321.95 Td (strength.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.75 309.57 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 309.95 Td (Return ) Tj ET Q q 0 0 0 rg BT 181.29 309.95 Td (on ) Tj ET Q q 0 0 0 rg BT 193.82 309.95 Td (equity ) Tj ET Q q 0 0 0 rg BT 220.36 309.95 Td (\("ROE"\) ) Tj ET Q q 0 0 0 rg BT 254.77 309.95 Td (\(non-GAAP\) ) Tj ET Q q 0 0 0 rg BT 306.31 309.95 Td ( ) Tj ET Q q 0 0 0 rg BT 313.84 309.95 Td (is ) Tj ET Q q 0 0 0 rg BT 322.87 309.95 Td (a ) Tj ET Q q 0 0 0 rg BT 330.40 309.95 Td (measure ) Tj ET Q q 0 0 0 rg BT 367.93 309.95 Td (of ) Tj ET Q q 0 0 0 rg BT 377.96 309.95 Td (the ) Tj ET Q q 0 0 0 rg BT 393.00 309.95 Td (rate ) Tj ET Q q 0 0 0 rg BT 411.03 309.95 Td (of ) Tj ET Q q 0 0 0 rg BT 421.06 309.95 Td (return ) Tj ET Q q 0 0 0 rg BT 447.10 309.95 Td (on ) Tj ET Q q 0 0 0 rg BT 459.63 309.95 Td (the ) Tj ET Q q 0 0 0 rg BT 474.67 309.95 Td (ownership ) Tj ET Q q 0 0 0 rg BT 518.21 309.95 Td (interest ) Tj ET Q q 0 0 0 rg BT 550.25 309.95 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 296.45 Td (our ) Tj ET Q q 0 0 0 rg BT 166.88 296.45 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 221.04 296.45 Td (and ) Tj ET Q q 0 0 0 rg BT 238.19 296.45 Td (is ) Tj ET Q q 0 0 0 rg BT 246.81 296.45 Td (calculated ) Tj ET Q q 0 0 0 rg BT 289.47 296.45 Td (as ) Tj ET Q q 0 0 0 rg BT 301.10 296.45 Td (the ) Tj ET Q q 0 0 0 rg BT 315.74 296.45 Td (proportion ) Tj ET Q q 0 0 0 rg BT 358.39 296.45 Td (of ) Tj ET Q q 0 0 0 rg BT 368.02 296.45 Td (earnings ) Tj ET Q q 0 0 0 rg BT 404.67 296.45 Td (for ) Tj ET Q q 0 0 0 rg BT 417.30 296.45 Td (the ) Tj ET Q q 0 0 0 rg BT 431.94 296.45 Td (last ) Tj ET Q q 0 0 0 rg BT 448.07 296.45 Td (12 ) Tj ET Q q 0 0 0 rg BT 460.21 296.45 Td (months ) Tj ET Q q 0 0 0 rg BT 491.85 296.45 Td (over ) Tj ET Q q 0 0 0 rg BT 511.49 296.45 Td (the ) Tj ET Q q 0 0 0 rg BT 526.12 296.45 Td (last ) Tj ET Q q 0 0 0 rg BT 542.26 296.45 Td (four ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 282.95 Td (quarters' ) Tj ET Q q 0 0 0 rg BT 188.51 282.95 Td (average ) Tj ET Q q 0 0 0 rg BT 223.07 282.95 Td (equity) Tj ET Q q 0 0 0 rg BT 246.75 282.95 Td (. ) Tj ET Q q 0 0 0 rg BT 250.94 282.95 Td (Management ) Tj ET Q q 0 0 0 rg BT 305.51 282.95 Td (looks ) Tj ET Q q 0 0 0 rg BT 328.55 282.95 Td (at ) Tj ET Q q 0 0 0 rg BT 338.08 282.95 Td (ROE ) Tj ET Q q 0 0 0 rg BT 359.61 282.95 Td (to ) Tj ET Q q 0 0 0 rg BT 369.15 282.95 Td (measure ) Tj ET Q q 0 0 0 rg BT 406.19 282.95 Td (its ) Tj ET Q q 0 0 0 rg BT 417.22 282.95 Td (ef) Tj ET Q q 0 0 0 rg BT 424.65 282.95 Td (ficiency ) Tj ET Q q 0 0 0 rg BT 456.61 282.95 Td (at ) Tj ET Q q 0 0 0 rg BT 466.14 282.95 Td (generating ) Tj ET Q q 0 0 0 rg BT 510.70 282.95 Td (earnings ) Tj ET Q q 0 0 0 rg BT 547.26 282.95 Td (for ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 269.45 Td (the ) Tj ET Q q 0 0 0 rg BT 166.68 269.45 Td (Company) Tj ET Q q 0 0 0 rg BT 207.12 269.45 Td (s ) Tj ET Q q 0 0 0 rg BT 213.96 269.45 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 268.42 269.45 Td (and ) Tj ET Q q 0 0 0 rg BT 285.86 269.45 Td (how ) Tj ET Q q 0 0 0 rg BT 304.79 269.45 Td (well ) Tj ET Q q 0 0 0 rg BT 322.72 269.45 Td (the ) Tj ET Q q 0 0 0 rg BT 337.65 269.45 Td (Company ) Tj ET Q q 0 0 0 rg BT 378.59 269.45 Td (uses ) Tj ET Q q 0 0 0 rg BT 400.03 269.45 Td (the ) Tj ET Q q 0 0 0 rg BT 414.96 269.45 Td (invested ) Tj ET Q q 0 0 0 rg BT 450.91 269.45 Td (funds ) Tj ET Q q 0 0 0 rg BT 475.35 269.45 Td (to ) Tj ET Q q 0 0 0 rg BT 485.28 269.45 Td (generate ) Tj ET Q q 0 0 0 rg BT 523.23 269.45 Td (earnings ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 255.95 Td (growth. ) Tj ET Q q 0 0 0 rg BT 183.76 255.95 Td (W) Tj ET Q q 0 0 0 rg BT 192.18 255.95 Td (e ) Tj ET Q q 0 0 0 rg BT 199.60 255.95 Td (believe ) Tj ET Q q 0 0 0 rg BT 230.62 255.95 Td (that ) Tj ET Q q 0 0 0 rg BT 248.14 255.95 Td (this ) Tj ET Q q 0 0 0 rg BT 264.64 255.95 Td (measure ) Tj ET Q q 0 0 0 rg BT 302.16 255.95 Td (is ) Tj ET Q q 0 0 0 rg BT 311.16 255.95 Td (useful ) Tj ET Q q 0 0 0 rg BT 337.67 255.95 Td (to ) Tj ET Q q 0 0 0 rg BT 347.68 255.95 Td (investors ) Tj ET Q q 0 0 0 rg BT 386.19 255.95 Td (for ) Tj ET Q q 0 0 0 rg BT 399.20 255.95 Td (the ) Tj ET Q q 0 0 0 rg BT 414.21 255.95 Td (same ) Tj ET Q q 0 0 0 rg BT 438.72 255.95 Td (reasons.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.75 242.57 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 242.95 Td (Return ) Tj ET Q q 0 0 0 rg BT 180.51 242.95 Td (on ) Tj ET Q q 0 0 0 rg BT 192.28 242.95 Td (invested ) Tj ET Q q 0 0 0 rg BT 227.55 242.95 Td (capital ) Tj ET Q q 0 0 0 rg BT 255.31 242.95 Td (\("ROIC"\) ) Tj ET Q q 0 0 0 rg BT 291.95 242.95 Td (\(non-GAAP\) ) Tj ET Q q 0 0 0 rg BT 342.72 242.95 Td ( ) Tj ET Q q 0 0 0 rg BT 349.47 242.95 Td (is ) Tj ET Q q 0 0 0 rg BT 357.72 242.95 Td (a ) Tj ET Q q 0 0 0 rg BT 364.48 242.95 Td (measure ) Tj ET Q q 0 0 0 rg BT 401.25 242.95 Td (of ) Tj ET Q q 0 0 0 rg BT 410.50 242.95 Td (the ) Tj ET Q q 0 0 0 rg BT 424.77 242.95 Td (Company) Tj ET Q q 0 0 0 rg BT 465.12 242.95 Td (s ) Tj ET Q q 0 0 0 rg BT 471.37 242.95 Td (ef) Tj ET Q q 0 0 0 rg BT 478.72 242.95 Td (ficiency ) Tj ET Q q 0 0 0 rg BT 510.48 242.95 Td (at ) Tj ET Q q 0 0 0 rg BT 519.73 242.95 Td (allocating ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 229.45 Td (the ) Tj ET Q q 0 0 0 rg BT 166.65 229.45 Td (capital ) Tj ET Q q 0 0 0 rg BT 195.06 229.45 Td (under ) Tj ET Q q 0 0 0 rg BT 220.47 229.45 Td (its ) Tj ET Q q 0 0 0 rg BT 231.87 229.45 Td (control ) Tj ET Q q 0 0 0 rg BT 261.27 229.45 Td (to ) Tj ET Q q 0 0 0 rg BT 271.17 229.45 Td (profitable ) Tj ET Q q 0 0 0 rg BT 310.59 229.45 Td (investments ) Tj ET Q q 0 0 0 rg BT 361.00 229.45 Td (and ) Tj ET Q q 0 0 0 rg BT 378.41 229.45 Td (is ) Tj ET Q q 0 0 0 rg BT 387.30 229.45 Td (calculated ) Tj ET Q q 0 0 0 rg BT 430.22 229.45 Td (as ) Tj ET Q q 0 0 0 rg BT 442.12 229.45 Td (the ) Tj ET Q q 0 0 0 rg BT 457.03 229.45 Td (proportion ) Tj ET Q q 0 0 0 rg BT 499.95 229.45 Td (of ) Tj ET Q q 0 0 0 rg BT 509.84 229.45 Td (the ) Tj ET Q q 0 0 0 rg BT 524.75 229.45 Td (after-tax ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 215.95 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 189.20 215.95 Td (EBIT) Tj ET Q q 0 0 0 rg BT 209.04 215.95 Td ( ) Tj ET Q q 0 0 0 rg BT 212.46 215.95 Td (for ) Tj ET Q q 0 0 0 rg BT 226.39 215.95 Td (the ) Tj ET Q q 0 0 0 rg BT 242.32 215.95 Td (last ) Tj ET Q q 0 0 0 rg BT 259.75 215.95 Td (12 ) Tj ET Q q 0 0 0 rg BT 273.18 215.95 Td (months, ) Tj ET Q q 0 0 0 rg BT 308.62 215.95 Td (over ) Tj ET Q q 0 0 0 rg BT 329.55 215.95 Td (the ) Tj ET Q q 0 0 0 rg BT 345.48 215.95 Td (last ) Tj ET Q q 0 0 0 rg BT 362.91 215.95 Td (four ) Tj ET Q q 0 0 0 rg BT 381.84 215.95 Td (quarters' ) Tj ET Q q 0 0 0 rg BT 420.00 215.95 Td (average ) Tj ET Q q 0 0 0 rg BT 455.94 215.95 Td (invested ) Tj ET Q q 0 0 0 rg BT 492.89 215.95 Td (capital, ) Tj ET Q q 0 0 0 rg BT 524.83 215.95 Td (which ) Tj ET Q q 0 0 0 rg BT 551.26 215.95 Td (is ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 202.45 Td (defined ) Tj ET Q q 0 0 0 rg BT 183.16 202.45 Td (as ) Tj ET Q q 0 0 0 rg BT 194.55 202.45 Td (the ) Tj ET Q q 0 0 0 rg BT 208.94 202.45 Td (sum ) Tj ET Q q 0 0 0 rg BT 227.83 202.45 Td (of ) Tj ET Q q 0 0 0 rg BT 237.22 202.45 Td (equity ) Tj ET Q q 0 0 0 rg BT 263.12 202.45 Td (and ) Tj ET Q q 0 0 0 rg BT 280.02 202.45 Td (net ) Tj ET Q q 0 0 0 rg BT 294.42 202.45 Td (debt. ) Tj ET Q q 0 0 0 rg BT 316.32 202.45 Td (Management ) Tj ET Q q 0 0 0 rg BT 370.73 202.45 Td (examines ) Tj ET Q q 0 0 0 rg BT 411.13 202.45 Td (this ) Tj ET Q q 0 0 0 rg BT 427.02 202.45 Td (ratio ) Tj ET Q q 0 0 0 rg BT 446.42 202.45 Td (to ) Tj ET Q q 0 0 0 rg BT 455.80 202.45 Td (assess ) Tj ET Q q 0 0 0 rg BT 485.70 202.45 Td (how ) Tj ET Q q 0 0 0 rg BT 504.09 202.45 Td (well ) Tj ET Q q 0 0 0 rg BT 521.48 202.45 Td (it ) Tj ET Q q 0 0 0 rg BT 527.86 202.45 Td (is ) Tj ET Q q 0 0 0 rg BT 536.25 202.45 Td (using ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.75 188.95 Td (its ) Tj ET Q q 0 0 0 rg BT 163.25 188.95 Td (funds ) Tj ET Q q 0 0 0 rg BT 187.77 188.95 Td (to ) Tj ET Q q 0 0 0 rg BT 197.77 188.95 Td (generate ) Tj ET Q q 0 0 0 rg BT 235.80 188.95 Td (returns. ) Tj ET Q q 0 0 0 rg BT 268.82 188.95 Td (W) Tj ET Q q 0 0 0 rg BT 277.15 188.95 Td (e ) Tj ET Q q 0 0 0 rg BT 284.65 188.95 Td (believe ) Tj ET Q q 0 0 0 rg BT 315.67 188.95 Td (that ) Tj ET Q q 0 0 0 rg BT 333.19 188.95 Td (this ) Tj ET Q q 0 0 0 rg BT 349.69 188.95 Td (measure ) Tj ET Q q 0 0 0 rg BT 387.21 188.95 Td (is ) Tj ET Q q 0 0 0 rg BT 396.21 188.95 Td (useful ) Tj ET Q q 0 0 0 rg BT 422.73 188.95 Td (to ) Tj ET Q q 0 0 0 rg BT 432.73 188.95 Td (investors ) Tj ET Q q 0 0 0 rg BT 471.25 188.95 Td (for ) Tj ET Q q 0 0 0 rg BT 484.25 188.95 Td (the ) Tj ET Q q 0 0 0 rg BT 499.26 188.95 Td (same ) Tj ET Q q 0 0 0 rg BT 523.77 188.95 Td (reason.) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 72.00 155.10 Td (Reporting ) Tj ET Q q 0 0 0 rg BT 131.99 155.10 Td (segments) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 135.60 Td (The ) Tj ET Q q 0 0 0 rg BT 88.95 135.60 Td (Company's ) Tj ET Q q 0 0 0 rg BT 135.12 135.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 178.59 135.60 Td (are ) Tj ET Q q 0 0 0 rg BT 193.04 135.60 Td (managed ) Tj ET Q q 0 0 0 rg BT 232.00 135.60 Td (through ) Tj ET Q q 0 0 0 rg BT 263.97 135.60 Td (the ) Tj ET Q q 0 0 0 rg BT 277.92 135.60 Td (following ) Tj ET Q q 0 0 0 rg BT 314.37 135.60 Td (seven ) Tj ET Q q 0 0 0 rg BT 339.83 135.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 378.80 135.60 Td (segments, ) Tj ET Q q 0 0 0 rg BT 421.75 135.60 Td (referred ) Tj ET Q q 0 0 0 rg BT 454.71 135.60 Td (to ) Tj ET Q q 0 0 0 rg BT 463.65 135.60 Td (as ) Tj ET Q q 0 0 0 rg BT 474.59 135.60 Td (our ) Tj ET Q q 0 0 0 rg BT 489.04 135.60 Td (Strategic ) Tj ET Q q 0 0 0 rg BT 526.00 135.60 Td (Business ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 122.10 Td (Units, ) Tj ET Q q 0 0 0 rg BT 97.36 122.10 Td (namely: ) Tj ET Q q 0 0 0 rg BT 131.23 122.10 Td (United ) Tj ET Q q 0 0 0 rg BT 159.61 122.10 Td (States ) Tj ET Q q 0 0 0 rg BT 187.48 122.10 Td (of ) Tj ET Q q 0 0 0 rg BT 196.87 122.10 Td (America ) Tj ET Q q 0 0 0 rg BT 232.24 122.10 Td (\("U.S."\); ) Tj ET Q q 0 0 0 rg BT 266.98 122.10 Td (Nordics; ) Tj ET Q q 0 0 0 rg BT 302.35 122.10 Td (Canada; ) Tj ET Q q 0 0 0 rg BT 338.73 122.10 Td (France ) Tj ET Q q 0 0 0 rg BT 369.10 122.10 Td (\(including ) Tj ET Q q 0 0 0 rg BT 409.98 122.10 Td (Luxembourg ) Tj ET Q q 0 0 0 rg BT 462.37 122.10 Td (and ) Tj ET Q q 0 0 0 rg BT 479.74 122.10 Td (Morocco\) ) Tj ET Q q 0 0 0 rg BT 519.61 122.10 Td (\("France"\); ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 108.60 Td (United ) Tj ET Q q 0 0 0 rg BT 101.42 108.60 Td (Kingdom ) Tj ET Q q 0 0 0 rg BT 140.35 108.60 Td (\("U.K."\); ) Tj ET Q q 0 0 0 rg BT 176.14 108.60 Td (Eastern, ) Tj ET Q q 0 0 0 rg BT 213.07 108.60 Td (Central ) Tj ET Q q 0 0 0 rg BT 245.49 108.60 Td (and ) Tj ET Q q 0 0 0 rg BT 263.91 108.60 Td (Southern ) Tj ET Q q 0 0 0 rg BT 303.84 108.60 Td (Europe ) Tj ET Q q 0 0 0 rg BT 336.27 108.60 Td (\(primarily ) Tj ET Q q 0 0 0 rg BT 376.67 108.60 Td (Netherlands ) Tj ET Q q 0 0 0 rg BT 428.61 108.60 Td (and ) Tj ET Q q 0 0 0 rg BT 447.03 108.60 Td (Germany\) ) Tj ET Q q 0 0 0 rg BT 490.44 108.60 Td (\("ECS"\); ) Tj ET Q q 0 0 0 rg BT 527.24 108.60 Td (and ) Tj ET Q q 0 0 0 rg BT 544.99 108.60 Td (Asia ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 95.10 Td (Pacific ) Tj ET Q q 0 0 0 rg BT 101.81 95.10 Td (\(including ) Tj ET Q q 0 0 0 rg BT 142.99 95.10 Td (Australia, ) Tj ET Q q 0 0 0 rg BT 183.81 95.10 Td (India ) Tj ET Q q 0 0 0 rg BT 206.63 95.10 Td (and ) Tj ET Q q 0 0 0 rg BT 224.95 95.10 Td (the ) Tj ET Q q 0 0 0 rg BT 240.77 95.10 Td (Philippines\) ) Tj ET Q q 0 0 0 rg BT 290.60 95.10 Td (\("Asia ) Tj ET Q q 0 0 0 rg BT 317.61 95.10 Td (Pacific"\). ) Tj ET Q q 0 0 0 rg BT 356.11 95.10 Td (Please ) Tj ET Q q 0 0 0 rg BT 386.94 95.10 Td (refer ) Tj ET Q q 0 0 0 rg BT 408.75 95.10 Td (to ) Tj ET Q q 0 0 0 rg BT 419.56 95.10 Td (sections ) Tj ET Q q 0 0 0 rg BT 455.88 95.10 Td (3.4 ) Tj ET Q q 0 0 0 rg BT 471.70 95.10 Td (and ) Tj ET Q q 0 0 0 rg BT 490.02 95.10 Td (3.6 ) Tj ET Q q 0 0 0 rg BT 505.84 95.10 Td (of ) Tj ET Q q 0 0 0 rg BT 516.65 95.10 Td (the ) Tj ET Q q 0 0 0 rg BT 532.47 95.10 Td (present ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 81.60 Td (document ) Tj ET Q q 0 0 0 rg BT 114.02 81.60 Td (and ) Tj ET Q q 0 0 0 rg BT 131.54 81.60 Td (to ) Tj ET Q q 0 0 0 rg BT 141.55 81.60 Td (note ) Tj ET Q q 0 0 0 rg BT 161.56 81.60 Td (27 ) Tj ET Q q 0 0 0 rg BT 174.08 81.60 Td (of ) Tj ET Q q 0 0 0 rg BT 184.08 81.60 Td (our ) Tj ET Q q 0 0 0 rg BT 199.59 81.60 Td (audited ) Tj ET Q q 0 0 0 rg BT 231.62 81.60 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 284.66 81.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 320.18 81.60 Td (statements ) Tj ET Q q 0 0 0 rg BT 366.70 81.60 Td (for ) Tj ET Q q 0 0 0 rg BT 379.70 81.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 420.73 81.60 Td (information ) Tj ET Q q 0 0 0 rg BT 467.75 81.60 Td (on ) Tj ET Q q 0 0 0 rg BT 480.27 81.60 Td (our ) Tj ET Q q 0 0 0 rg BT 495.77 81.60 Td (segments.) Tj ET Q endstream endobj 11 0 obj <><><><><><><><><><><><><><><>] /Rotate 0 /Contents 12 0 R>> endobj 12 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 554.85 22.10 Td (4) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 49.50 706.80 Td (MD&A) Tj ET Q q 0 0 0 rg BT 85.05 706.80 Td ( ) Tj ET Q q 0 0 0 rg BT 88.38 706.80 Td (Objectives ) Tj ET Q q 0 0 0 rg BT 152.41 706.80 Td (and ) Tj ET Q q 0 0 0 rg BT 177.08 706.80 Td (Contents) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 49.50 678.90 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 67.50 678.90 Td (Provide ) Tj ET Q q 0 0 0 rg BT 100.52 678.90 Td (a ) Tj ET Q q 0 0 0 rg BT 108.02 678.90 Td (narrative ) Tj ET Q q 0 0 0 rg BT 145.54 678.90 Td (explanation ) Tj ET Q q 0 0 0 rg BT 194.08 678.90 Td (of ) Tj ET Q q 0 0 0 rg BT 204.08 678.90 Td (audited ) Tj ET Q q 0 0 0 rg BT 236.11 678.90 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 289.15 678.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 324.67 678.90 Td (statements ) Tj ET Q q 0 0 0 rg BT 371.19 678.90 Td (through ) Tj ET Q q 0 0 0 rg BT 404.21 678.90 Td (the ) Tj ET Q q 0 0 0 rg BT 419.23 678.90 Td (eyes ) Tj ET Q q 0 0 0 rg BT 440.74 678.90 Td (of ) Tj ET Q q 0 0 0 rg BT 450.74 678.90 Td (management;) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 49.50 659.40 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 67.50 659.40 Td (Provide ) Tj ET Q q 0 0 0 rg BT 100.13 659.40 Td (the ) Tj ET Q q 0 0 0 rg BT 114.75 659.40 Td (context ) Tj ET Q q 0 0 0 rg BT 145.88 659.40 Td (within ) Tj ET Q q 0 0 0 rg BT 171.01 659.40 Td (which ) Tj ET Q q 0 0 0 rg BT 196.13 659.40 Td (audited ) Tj ET Q q 0 0 0 rg BT 227.77 659.40 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 280.42 659.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 315.55 659.40 Td (statements ) Tj ET Q q 0 0 0 rg BT 361.69 659.40 Td (should ) Tj ET Q q 0 0 0 rg BT 390.32 659.40 Td (be ) Tj ET Q q 0 0 0 rg BT 402.45 659.40 Td (analyzed, ) Tj ET Q q 0 0 0 rg BT 443.09 659.40 Td (by ) Tj ET Q q 0 0 0 rg BT 454.70 659.40 Td (giving ) Tj ET Q q 0 0 0 rg BT 480.33 659.40 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 521.98 659.40 Td (disclosure ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 67.50 645.90 Td (about ) Tj ET Q q 0 0 0 rg BT 92.52 645.90 Td (the ) Tj ET Q q 0 0 0 rg BT 107.53 645.90 Td (dynamics ) Tj ET Q q 0 0 0 rg BT 148.05 645.90 Td (and ) Tj ET Q q 0 0 0 rg BT 165.56 645.90 Td (trends ) Tj ET Q q 0 0 0 rg BT 193.08 645.90 Td (of ) Tj ET Q q 0 0 0 rg BT 203.08 645.90 Td (the ) Tj ET Q q 0 0 0 rg BT 218.10 645.90 Td (Company) Tj ET Q q 0 0 0 rg BT 258.45 645.90 Td (s ) Tj ET Q q 0 0 0 rg BT 265.45 645.90 Td (business; ) Tj ET Q q 0 0 0 rg BT 305.97 645.90 Td (and) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 49.50 626.40 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 67.50 626.40 Td (Provide ) Tj ET Q q 0 0 0 rg BT 100.09 626.40 Td (information ) Tj ET Q q 0 0 0 rg BT 146.68 626.40 Td (to ) Tj ET Q q 0 0 0 rg BT 156.26 626.40 Td (assist ) Tj ET Q q 0 0 0 rg BT 181.34 626.40 Td (the ) Tj ET Q q 0 0 0 rg BT 195.93 626.40 Td (reader ) Tj ET Q q 0 0 0 rg BT 224.01 626.40 Td (in ) Tj ET Q q 0 0 0 rg BT 233.09 626.40 Td (ascertaining ) Tj ET Q q 0 0 0 rg BT 283.69 626.40 Td (the ) Tj ET Q q 0 0 0 rg BT 298.28 626.40 Td (likelihood ) Tj ET Q q 0 0 0 rg BT 337.88 626.40 Td (that ) Tj ET Q q 0 0 0 rg BT 354.96 626.40 Td (past ) Tj ET Q q 0 0 0 rg BT 374.05 626.40 Td (performance ) Tj ET Q q 0 0 0 rg BT 426.64 626.40 Td (is ) Tj ET Q q 0 0 0 rg BT 435.22 626.40 Td (indicative ) Tj ET Q q 0 0 0 rg BT 474.81 626.40 Td (of ) Tj ET Q q 0 0 0 rg BT 484.39 626.40 Td (future ) Tj ET Q q 0 0 0 rg BT 509.48 626.40 Td (performance.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 49.50 606.60 Td (In ) Tj ET Q q 0 0 0 rg BT 59.51 606.60 Td (order ) Tj ET Q q 0 0 0 rg BT 83.02 606.60 Td (to ) Tj ET Q q 0 0 0 rg BT 93.02 606.60 Td (achieve ) Tj ET Q q 0 0 0 rg BT 126.54 606.60 Td (these ) Tj ET Q q 0 0 0 rg BT 151.06 606.60 Td (objectives, ) Tj ET Q q 0 0 0 rg BT 196.08 606.60 Td (this ) Tj ET Q q 0 0 0 rg BT 212.59 606.60 Td (MD&A) Tj ET Q q 0 0 0 rg BT 238.10 606.60 Td ( ) Tj ET Q q 0 0 0 rg BT 240.60 606.60 Td (is ) Tj ET Q q 0 0 0 rg BT 249.60 606.60 Td (presented ) Tj ET Q q 0 0 0 rg BT 292.13 606.60 Td (in ) Tj ET Q q 0 0 0 rg BT 301.63 606.60 Td (the ) Tj ET Q q 0 0 0 rg BT 316.64 606.60 Td (following ) Tj ET Q q 0 0 0 rg BT 354.16 606.60 Td (main ) Tj ET Q q 0 0 0 rg BT 376.17 606.60 Td (sections:) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 50.00 596.10 108.00 -17.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 158.00 596.10 4.00 -17.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 162.00 596.10 356.00 -17.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 518.00 596.10 45.00 -17.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 579.10 108.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 575.10 108.00 -25.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 550.10 108.00 -10.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 540.10 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 527.10 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 514.10 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 501.10 108.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 497.10 108.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 493.10 108.00 -41.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 452.10 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 439.10 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 426.10 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 413.10 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 400.10 108.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 396.10 108.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 392.10 108.00 -68.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 324.10 108.00 -10.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 314.10 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 301.10 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 288.10 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 275.10 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 262.10 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 249.10 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 236.10 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 223.10 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 210.10 108.00 -4.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 596.1 m 50 579.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 596.1 m 158 596.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 596.1 m 158 579.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 596.1 m 162 596.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 162 596.1 m 518 596.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 596.1 m 518 579.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 596.1 m 563 579.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 596.1 m 563 596.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 579.1 m 563 579.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 579.1 m 50 575.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 579.1 m 158 575.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 579.1 m 158 579.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 579.1 m 158 575.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 579.1 m 162 579.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 162 579.1 m 518 579.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 579.1 m 518 575.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 579.1 m 563 575.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 575.1 m 50 550.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 575.1 m 158 550.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 575.1 m 158 550.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 575.1 m 518 550.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 575.1 m 563 550.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 550.1 m 50 540.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 550.1 m 158 540.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 550.1 m 518 540.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 550.1 m 563 540.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 540.1 m 50 527.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 540.1 m 158 527.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 540.1 m 518 527.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 540.1 m 563 527.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 527.1 m 50 514.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 527.1 m 158 514.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 527.1 m 518 514.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 527.1 m 563 514.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 514.1 m 50 501.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 514.1 m 158 501.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 514.1 m 518 501.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 514.1 m 563 501.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 501.1 m 50 497.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 497.1 m 158 497.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 501.1 m 158 497.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 497.1 m 162 497.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 162 497.1 m 518 497.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 501.1 m 518 497.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 501.1 m 563 497.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 497.1 m 563 497.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 497.1 m 50 493.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 497.1 m 158 493.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 497.1 m 158 497.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 497.1 m 158 493.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 497.1 m 162 497.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 162 497.1 m 518 497.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 497.1 m 518 493.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 497.1 m 563 493.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 497.1 m 563 497.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 493.1 m 50 452.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 493.1 m 158 452.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 493.1 m 518 452.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 493.1 m 563 452.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 452.1 m 50 439.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 452.1 m 158 439.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 452.1 m 518 439.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 452.1 m 563 439.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 439.1 m 50 426.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 439.1 m 158 426.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 439.1 m 518 426.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 439.1 m 563 426.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 426.1 m 50 413.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 426.1 m 158 413.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 426.1 m 518 413.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 426.1 m 563 413.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 413.1 m 50 400.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 413.1 m 158 400.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 413.1 m 518 400.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 413.1 m 563 400.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 400.1 m 50 396.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 396.1 m 158 396.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 400.1 m 158 396.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 396.1 m 162 396.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 162 396.1 m 518 396.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 400.1 m 518 396.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 400.1 m 563 396.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 396.1 m 563 396.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 396.1 m 50 392.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 396.1 m 158 392.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 396.1 m 518 392.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 396.1 m 563 392.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 392.1 m 50 324.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 392.1 m 158 324.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 392.1 m 518 324.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 392.1 m 563 324.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 324.1 m 50 314.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 324.1 m 158 314.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 324.1 m 518 314.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 324.1 m 563 314.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 314.1 m 50 301.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 314.1 m 158 301.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 314.1 m 518 301.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 314.1 m 563 301.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 301.1 m 50 288.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 301.1 m 158 288.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 301.1 m 518 288.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 301.1 m 563 288.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 288.1 m 50 275.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 288.1 m 158 275.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 288.1 m 518 275.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 288.1 m 563 275.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 275.1 m 50 262.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 275.1 m 158 262.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 275.1 m 518 262.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 275.1 m 563 262.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 262.1 m 50 249.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 262.1 m 158 249.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 262.1 m 518 249.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 262.1 m 563 249.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 249.10000000000002 m 50 236.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 249.10000000000002 m 158 236.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 249.10000000000002 m 518 236.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 249.10000000000002 m 563 236.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 236.10000000000002 m 50 223.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 236.10000000000002 m 158 223.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 236.10000000000002 m 518 223.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 236.10000000000002 m 563 223.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 223.10000000000002 m 50 210.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 223.10000000000002 m 158 210.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 223.10000000000002 m 518 210.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 223.10000000000002 m 563 210.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 210.10000000000002 m 50 206.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 206.10000000000002 m 158 206.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 210.10000000000002 m 158 206.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 206.10000000000002 m 162 206.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 162 206.10000000000002 m 518 206.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 210.10000000000002 m 518 206.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 210.10000000000002 m 563 206.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 206.10000000000002 m 563 206.10000000000002 l s BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 52.50 585.30 Td (Section) Tj ET Q BT /F2 9.00 Tf ET q 1 1 1 rg BT 164.50 585.30 Td (Contents) Tj ET Q BT /F2 9.00 Tf ET q 1 1 1 rg BT 526.70 585.30 Td (Pages) Tj ET Q BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 52.50 566.05 Td (1.Corporate) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 75.00 552.55 Td (Overview) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 566.05 Td (A) Tj ET Q q 0 0 0 rg BT 170.01 566.05 Td ( ) Tj ET Q q 0 0 0 rg BT 173.19 566.05 Td (description ) Tj ET Q q 0 0 0 rg BT 219.91 566.05 Td (of ) Tj ET Q q 0 0 0 rg BT 230.60 566.05 Td (our ) Tj ET Q q 0 0 0 rg BT 246.80 566.05 Td (business ) Tj ET Q q 0 0 0 rg BT 285.50 566.05 Td (and ) Tj ET Q q 0 0 0 rg BT 303.71 566.05 Td (how ) Tj ET Q q 0 0 0 rg BT 323.41 566.05 Td (we ) Tj ET Q q 0 0 0 rg BT 338.10 566.05 Td (generate ) Tj ET Q q 0 0 0 rg BT 376.82 566.05 Td (revenue ) Tj ET Q q 0 0 0 rg BT 412.53 566.05 Td (as ) Tj ET Q q 0 0 0 rg BT 425.22 566.05 Td (well ) Tj ET Q q 0 0 0 rg BT 443.91 566.05 Td (as ) Tj ET Q q 0 0 0 rg BT 456.61 566.05 Td (the ) Tj ET Q q 0 0 0 rg BT 472.31 566.05 Td (markets ) Tj ET Q q 0 0 0 rg BT 507.50 566.05 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 552.55 Td (which ) Tj ET Q q 0 0 0 rg BT 190.01 552.55 Td (we ) Tj ET Q q 0 0 0 rg BT 204.02 552.55 Td (operate.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 531.05 Td (1.1. ) Tj ET Q q 0 0 0 rg BT 182.01 531.05 Td () Tj ET Q q 0 0 0 rg BT 191.77 531.05 Td (About ) Tj ET Q q 0 0 0 rg BT 217.54 531.05 Td (CGI) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 518.05 Td (1.2. ) Tj ET Q q 0 0 0 rg BT 182.01 518.05 Td (V) Tj ET Q q 0 0 0 rg BT 197.94 518.05 Td (ision ) Tj ET Q q 0 0 0 rg BT 218.86 518.05 Td (and ) Tj ET Q q 0 0 0 rg BT 236.38 518.05 Td (Strategy) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 505.05 Td (1.3. ) Tj ET Q q 0 0 0 rg BT 182.01 505.05 Td (Competitive ) Tj ET Q q 0 0 0 rg BT 242.03 505.05 Td (Environment) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 484.05 Td (2.Highlights and Key) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 75.00 470.55 Td (Performance) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 75.00 457.05 Td (Measures) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 484.05 Td (A) Tj ET Q q 0 0 0 rg BT 170.25 484.05 Td ( ) Tj ET Q q 0 0 0 rg BT 174.05 484.05 Td (summary ) Tj ET Q q 0 0 0 rg BT 215.10 484.05 Td (of ) Tj ET Q q 0 0 0 rg BT 226.66 484.05 Td (key ) Tj ET Q q 0 0 0 rg BT 244.71 484.05 Td (highlights ) Tj ET Q q 0 0 0 rg BT 286.78 484.05 Td (during ) Tj ET Q q 0 0 0 rg BT 315.85 484.05 Td (the ) Tj ET Q q 0 0 0 rg BT 332.41 484.05 Td (year) Tj ET Q q 0 0 0 rg BT 349.67 484.05 Td (, ) Tj ET Q q 0 0 0 rg BT 355.97 484.05 Td (the ) Tj ET Q q 0 0 0 rg BT 372.53 484.05 Td (past ) Tj ET Q q 0 0 0 rg BT 393.59 484.05 Td (three ) Tj ET Q q 0 0 0 rg BT 418.15 484.05 Td (years' ) Tj ET Q q 0 0 0 rg BT 445.92 484.05 Td (key ) Tj ET Q q 0 0 0 rg BT 463.98 484.05 Td (performance ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 470.55 Td (measures, ) Tj ET Q q 0 0 0 rg BT 209.02 470.55 Td (and ) Tj ET Q q 0 0 0 rg BT 226.53 470.55 Td (CGI) Tj ET Q q 0 0 0 rg BT 244.45 470.55 Td (s ) Tj ET Q q 0 0 0 rg BT 251.37 470.55 Td (stock ) Tj ET Q q 0 0 0 rg BT 274.88 470.55 Td (performance.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 443.05 Td (2.1. ) Tj ET Q q 0 0 0 rg BT 182.01 443.05 Td (Fiscal ) Tj ET Q q 0 0 0 rg BT 218.02 443.05 Td (2016 ) Tj ET Q q 0 0 0 rg BT 240.46 443.05 Td (Y) Tj ET Q q 0 0 0 rg BT 245.97 443.05 Td (ear-Over-Y) Tj ET Q q 0 0 0 rg BT 289.65 443.05 Td (ear ) Tj ET Q q 0 0 0 rg BT 304.74 443.05 Td (Highlights) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 430.05 Td (2.2. ) Tj ET Q q 0 0 0 rg BT 182.01 430.05 Td (Selected ) Tj ET Q q 0 0 0 rg BT 229.46 430.05 Td (Y) Tj ET Q q 0 0 0 rg BT 234.97 430.05 Td (early ) Tj ET Q q 0 0 0 rg BT 256.56 430.05 Td (Information ) Tj ET Q q 0 0 0 rg BT 304.08 430.05 Td (& ) Tj ET Q q 0 0 0 rg BT 312.59 430.05 Td (Key ) Tj ET Q q 0 0 0 rg BT 330.60 430.05 Td (Performance ) Tj ET Q q 0 0 0 rg BT 384.62 430.05 Td (Measures) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 417.05 Td (2.3. ) Tj ET Q q 0 0 0 rg BT 182.01 417.05 Td (Stock ) Tj ET Q q 0 0 0 rg BT 217.02 417.05 Td (Performance) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 404.05 Td (2.4. ) Tj ET Q q 0 0 0 rg BT 182.01 404.05 Td ( ) Tj ET Q q 0 0 0 rg BT 184.51 404.05 Td ( ) Tj ET Q q 0 0 0 rg BT 187.01 404.05 Td ( ) Tj ET Q q 0 0 0 rg BT 189.51 404.05 Td ( ) Tj ET Q q 0 0 0 rg BT 192.01 404.05 Td (Investments ) Tj ET Q q 0 0 0 rg BT 243.03 404.05 Td (in ) Tj ET Q q 0 0 0 rg BT 252.54 404.05 Td (subsidiaries) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 383.05 Td (3.Financial Review) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 383.05 Td (A) Tj ET Q q 0 0 0 rg BT 170.01 383.05 Td ( ) Tj ET Q q 0 0 0 rg BT 173.81 383.05 Td (discussion ) Tj ET Q q 0 0 0 rg BT 219.63 383.05 Td (of ) Tj ET Q q 0 0 0 rg BT 230.94 383.05 Td (year-over-year ) Tj ET Q q 0 0 0 rg BT 293.26 383.05 Td (changes ) Tj ET Q q 0 0 0 rg BT 331.08 383.05 Td (to ) Tj ET Q q 0 0 0 rg BT 342.39 383.05 Td (financial ) Tj ET Q q 0 0 0 rg BT 379.21 383.05 Td (results ) Tj ET Q q 0 0 0 rg BT 409.52 383.05 Td (between ) Tj ET Q q 0 0 0 rg BT 447.35 383.05 Td (the ) Tj ET Q q 0 0 0 rg BT 463.66 383.05 Td (years ) Tj ET Q q 0 0 0 rg BT 489.47 383.05 Td (ended ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 369.55 Td (September ) Tj ET Q q 0 0 0 rg BT 210.20 369.55 Td (30, ) Tj ET Q q 0 0 0 rg BT 224.39 369.55 Td (2016 ) Tj ET Q q 0 0 0 rg BT 246.08 369.55 Td (and ) Tj ET Q q 0 0 0 rg BT 262.77 369.55 Td (2015, ) Tj ET Q q 0 0 0 rg BT 286.97 369.55 Td (describing ) Tj ET Q q 0 0 0 rg BT 329.67 369.55 Td (the ) Tj ET Q q 0 0 0 rg BT 343.86 369.55 Td (factors ) Tj ET Q q 0 0 0 rg BT 372.54 369.55 Td (af) Tj ET Q q 0 0 0 rg BT 379.88 369.55 Td (fecting ) Tj ET Q q 0 0 0 rg BT 408.08 369.55 Td (revenue ) Tj ET Q q 0 0 0 rg BT 442.27 369.55 Td (and ) Tj ET Q q 0 0 0 rg BT 458.97 369.55 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 494.67 369.55 Td (EBIT) Tj ET Q q 0 0 0 rg BT 514.51 369.55 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 356.05 Td (on ) Tj ET Q q 0 0 0 rg BT 178.62 356.05 Td (a ) Tj ET Q q 0 0 0 rg BT 187.73 356.05 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 242.38 356.05 Td (and ) Tj ET Q q 0 0 0 rg BT 261.50 356.05 Td (reportable ) Tj ET Q q 0 0 0 rg BT 306.14 356.05 Td (segment ) Tj ET Q q 0 0 0 rg BT 344.77 356.05 Td (basis, ) Tj ET Q q 0 0 0 rg BT 372.38 356.05 Td (and ) Tj ET Q q 0 0 0 rg BT 391.51 356.05 Td (also ) Tj ET Q q 0 0 0 rg BT 412.13 356.05 Td (by ) Tj ET Q q 0 0 0 rg BT 425.74 356.05 Td (describing ) Tj ET Q q 0 0 0 rg BT 470.87 356.05 Td (the ) Tj ET Q q 0 0 0 rg BT 487.49 356.05 Td (factors ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 342.55 Td (af) Tj ET Q q 0 0 0 rg BT 171.84 342.55 Td (fecting ) Tj ET Q q 0 0 0 rg BT 200.95 342.55 Td (changes ) Tj ET Q q 0 0 0 rg BT 237.56 342.55 Td (in ) Tj ET Q q 0 0 0 rg BT 247.16 342.55 Td (the ) Tj ET Q q 0 0 0 rg BT 262.26 342.55 Td (major ) Tj ET Q q 0 0 0 rg BT 287.35 342.55 Td (expense ) Tj ET Q q 0 0 0 rg BT 323.96 342.55 Td (categories. ) Tj ET Q q 0 0 0 rg BT 370.06 342.55 Td (Also ) Tj ET Q q 0 0 0 rg BT 390.16 342.55 Td (discussed ) Tj ET Q q 0 0 0 rg BT 432.77 342.55 Td (are ) Tj ET Q q 0 0 0 rg BT 448.36 342.55 Td (bookings ) Tj ET Q q 0 0 0 rg BT 486.98 342.55 Td (broken ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 329.05 Td (down ) Tj ET Q q 0 0 0 rg BT 188.52 329.05 Td (by ) Tj ET Q q 0 0 0 rg BT 200.52 329.05 Td (contract ) Tj ET Q q 0 0 0 rg BT 235.04 329.05 Td (type, ) Tj ET Q q 0 0 0 rg BT 257.05 329.05 Td (service ) Tj ET Q q 0 0 0 rg BT 288.06 329.05 Td (type, ) Tj ET Q q 0 0 0 rg BT 310.07 329.05 Td (segment, ) Tj ET Q q 0 0 0 rg BT 349.59 329.05 Td (and ) Tj ET Q q 0 0 0 rg BT 367.11 329.05 Td (by ) Tj ET Q q 0 0 0 rg BT 379.11 329.05 Td (vertical ) Tj ET Q q 0 0 0 rg BT 410.12 329.05 Td (market.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 305.05 Td (3.1. ) Tj ET Q q 0 0 0 rg BT 182.01 305.05 Td (Bookings ) Tj ET Q q 0 0 0 rg BT 231.54 305.05 Td (and ) Tj ET Q q 0 0 0 rg BT 249.06 305.05 Td (Book-to-Bill ) Tj ET Q q 0 0 0 rg BT 297.57 305.05 Td (Ratio) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 292.05 Td (3.2. ) Tj ET Q q 0 0 0 rg BT 182.01 292.05 Td (Foreign ) Tj ET Q q 0 0 0 rg BT 225.03 292.05 Td (Exchange) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 279.05 Td (3.3. ) Tj ET Q q 0 0 0 rg BT 182.01 279.05 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 230.54 279.05 Td (Distribution) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 266.05 Td (3.4. ) Tj ET Q q 0 0 0 rg BT 182.01 266.05 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 230.54 266.05 Td (V) Tj ET Q q 0 0 0 rg BT 236.21 266.05 Td (ariation ) Tj ET Q q 0 0 0 rg BT 267.89 266.05 Td (and ) Tj ET Q q 0 0 0 rg BT 285.41 266.05 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 323.94 266.05 Td (by ) Tj ET Q q 0 0 0 rg BT 335.94 266.05 Td (Segment) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 253.05 Td (3.5. ) Tj ET Q q 0 0 0 rg BT 182.01 253.05 Td (Operating ) Tj ET Q q 0 0 0 rg BT 234.04 253.05 Td (Expenses) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 240.05 Td (3.6. ) Tj ET Q q 0 0 0 rg BT 182.01 240.05 Td () Tj ET Q q 0 0 0 rg BT 191.77 240.05 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 229.04 240.05 Td (EBIT) Tj ET Q q 0 0 0 rg BT 248.96 240.05 Td ( ) Tj ET Q q 0 0 0 rg BT 251.38 240.05 Td (by ) Tj ET Q q 0 0 0 rg BT 263.39 240.05 Td (Segment) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 227.05 Td (3.7. ) Tj ET Q q 0 0 0 rg BT 182.01 227.05 Td (Earnings ) Tj ET Q q 0 0 0 rg BT 230.04 227.05 Td (Before ) Tj ET Q q 0 0 0 rg BT 259.05 227.05 Td (Income ) Tj ET Q q 0 0 0 rg BT 290.99 227.05 Td (T) Tj ET Q q 0 0 0 rg BT 295.90 227.05 Td (axes) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 214.05 Td (3.8. ) Tj ET Q q 0 0 0 rg BT 182.01 214.05 Td (Net ) Tj ET Q q 0 0 0 rg BT 208.52 214.05 Td (Earnings ) Tj ET Q q 0 0 0 rg BT 246.54 214.05 Td (and ) Tj ET Q q 0 0 0 rg BT 264.06 214.05 Td (Earnings ) Tj ET Q q 0 0 0 rg BT 302.08 214.05 Td (Per ) Tj ET Q q 0 0 0 rg BT 318.59 214.05 Td (Share ) Tj ET Q q 0 0 0 rg BT 345.10 214.05 Td (\(EPS\)) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.45 531.05 Td (6) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.45 518.05 Td (7) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.45 505.05 Td (8) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.45 443.05 Td (9) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 430.05 Td (10) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.30 417.05 Td (1) Tj ET Q q 0 0 0 rg BT 539.64 417.05 Td (1) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 404.05 Td (12) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 305.05 Td (13) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 292.05 Td (14) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 279.05 Td (15) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 266.05 Td (16) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 253.05 Td (18) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 240.05 Td (19) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 227.05 Td (20) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 214.05 Td (21) Tj ET Q BT /F3 9.00 Tf ET endstream endobj 13 0 obj <><><><><><><><><><><><><><><><><><>] /Rotate 0 /Contents 14 0 R>> endobj 14 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 554.85 22.10 Td (5) Tj ET Q BT /F1 10.00 Tf ET 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 50.00 715.00 108.00 -17.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 158.00 715.00 4.00 -17.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 162.00 715.00 356.00 -17.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 518.00 715.00 45.00 -17.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 698.00 108.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 694.00 108.00 -68.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 626.00 108.00 -10.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 616.00 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 603.00 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 590.00 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 577.00 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 564.00 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 551.00 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 538.00 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 525.00 108.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 521.00 108.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 517.00 108.00 -54.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 463.00 108.00 -10.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 453.00 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 440.00 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 427.00 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 414.00 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 401.00 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 388.00 108.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 384.00 108.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 380.00 108.00 -30.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 350.00 108.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 346.00 108.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 342.00 108.00 -31.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 311.00 108.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 307.00 108.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 303.00 108.00 -33.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 270.00 108.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 266.00 108.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 262.00 108.00 -29.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 233.00 108.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 229.00 108.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 225.00 108.00 -27.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 198.00 108.00 -10.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 188.00 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 175.00 108.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 50.00 162.00 108.00 -4.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 715 m 50 698 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 715 m 158 715 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 715 m 158 698 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 715 m 162 715 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 162 715 m 518 715 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 715 m 518 698 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 715 m 563 698 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 715 m 563 715 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 698 m 563 698 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 698 m 50 694 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 698 m 158 698 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 698 m 158 694 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 698 m 162 698 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 162 698 m 518 698 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 698 m 518 694 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 698 m 563 694 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 694 m 50 626 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 694 m 158 626 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 694 m 518 626 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 694 m 563 626 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 626 m 50 616 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 626 m 158 616 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 626 m 518 616 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 626 m 563 616 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 616 m 50 603 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 616 m 158 603 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 616 m 518 603 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 616 m 563 603 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 603 m 50 590 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 603 m 158 590 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 603 m 518 590 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 603 m 563 590 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 590 m 50 577 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 590 m 158 577 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 590 m 518 577 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 590 m 563 577 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 577 m 50 564 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 577 m 158 564 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 577 m 518 564 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 577 m 563 564 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 564 m 50 551 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 564 m 158 551 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 564 m 518 551 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 564 m 563 551 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 551 m 50 538 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 551 m 158 538 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 551 m 518 538 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 551 m 563 538 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 538 m 50 525 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 538 m 158 525 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 538 m 158 525 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 538 m 518 525 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 538 m 563 525 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 525 m 50 521 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 525 m 158 521 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 521 m 158 521 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 525 m 158 521 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 521 m 162 521 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 162 521 m 518 521 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 525 m 518 521 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 525 m 563 521 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 521 m 563 521 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 521 m 50 517 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 521 m 158 521 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 521 m 158 517 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 521 m 518 517 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 521 m 563 517 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 521 m 563 521 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 517 m 50 463 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 517 m 158 463 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 517 m 518 463 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 517 m 563 463 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 463 m 50 453 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 463 m 158 453 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 463 m 518 453 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 463 m 563 453 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 453 m 50 440 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 453 m 158 440 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 453 m 518 440 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 453 m 518 440 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 453 m 563 440 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 440 m 50 427 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 440 m 158 427 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 440 m 518 427 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 440 m 518 427 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 440 m 563 427 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 427 m 50 414 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 427 m 158 414 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 427 m 518 414 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 427 m 563 414 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 414 m 50 401 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 414 m 158 401 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 414 m 518 401 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 414 m 518 401 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 414 m 563 401 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 401 m 50 388 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 401 m 158 388 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 401 m 518 388 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 401 m 518 388 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 401 m 563 388 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 388 m 50 384 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 384 m 158 384 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 388 m 158 384 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 384 m 162 384 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 162 384 m 518 384 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 388 m 518 384 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 388 m 563 384 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 384 m 563 384 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 384 m 50 380 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 384 m 158 380 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 384 m 518 380 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 384 m 563 380 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 380 m 50 350 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 380 m 158 350 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 380 m 518 350 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 380 m 518 350 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 380 m 563 350 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 350 m 50 346 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 346 m 158 346 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 350 m 158 346 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 346 m 162 346 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 162 346 m 518 346 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 350 m 518 346 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 350 m 563 346 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 346 m 563 346 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 346 m 50 342 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 346 m 158 342 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 346 m 158 346 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 346 m 158 342 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 346 m 518 342 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 346 m 563 342 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 342 m 50 311 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 342 m 158 311 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 342 m 158 311 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 342 m 518 311 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 342 m 518 311 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 342 m 563 311 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 311 m 50 307 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 307 m 158 307 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 311 m 158 307 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 307 m 162 307 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 162 307 m 518 307 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 311 m 518 307 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 311 m 563 307 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 307 m 563 307 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 307 m 50 303 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 307 m 158 303 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 307 m 518 303 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 307 m 563 303 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 303 m 50 270 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 303 m 158 270 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 303 m 518 270 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 303 m 563 270 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 270 m 50 266 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 266 m 158 266 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 270 m 158 266 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 270 m 518 266 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 270 m 563 266 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 266 m 50 262 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 266 m 158 266 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 266 m 158 262 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 266 m 162 266 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 162 266 m 518 266 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 266 m 518 262 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 266 m 563 262 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 266 m 563 266 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 262 m 50 233 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 262 m 158 233 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 262 m 518 233 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 262 m 563 233 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 233 m 50 229 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 229 m 158 229 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 233 m 158 229 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 229 m 162 229 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 162 229 m 518 229 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 233 m 518 229 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 233 m 563 229 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 229 m 563 229 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 229 m 50 225 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 229 m 158 225 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 229 m 518 225 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 229 m 563 225 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 225 m 50 198 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 225 m 158 198 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 225 m 518 198 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 225 m 563 198 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 198 m 50 188 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 198 m 158 188 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 198 m 518 188 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 198 m 563 188 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 188 m 50 175 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 188 m 158 175 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 188 m 518 175 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 188 m 563 175 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 175 m 50 162 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 175 m 158 162 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 175 m 518 162 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 175 m 563 162 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 162 m 50 158 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 158 m 158 158 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 162 m 158 158 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 158 158 m 162 158 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 162 158 m 518 158 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 162 m 518 158 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 162 m 563 158 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 158 m 563 158 l s BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 52.50 704.20 Td (Section) Tj ET Q BT /F2 9.00 Tf ET q 1 1 1 rg BT 164.50 704.20 Td (Contents) Tj ET Q BT /F2 9.00 Tf ET q 1 1 1 rg BT 526.70 704.20 Td (Pages) Tj ET Q BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 52.50 684.95 Td (4.Liquidity) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 684.95 Td (A) Tj ET Q q 0 0 0 rg BT 170.25 684.95 Td ( ) Tj ET Q q 0 0 0 rg BT 172.74 684.95 Td (discussion ) Tj ET Q q 0 0 0 rg BT 217.50 684.95 Td (of ) Tj ET Q q 0 0 0 rg BT 227.74 684.95 Td (changes ) Tj ET Q q 0 0 0 rg BT 264.50 684.95 Td (in ) Tj ET Q q 0 0 0 rg BT 274.24 684.95 Td (cash ) Tj ET Q q 0 0 0 rg BT 295.98 684.95 Td (flows ) Tj ET Q q 0 0 0 rg BT 319.22 684.95 Td (from ) Tj ET Q q 0 0 0 rg BT 339.96 684.95 Td (operating, ) Tj ET Q q 0 0 0 rg BT 382.72 684.95 Td (investing ) Tj ET Q q 0 0 0 rg BT 420.98 684.95 Td (and ) Tj ET Q q 0 0 0 rg BT 438.73 684.95 Td (financing ) Tj ET Q q 0 0 0 rg BT 477.49 684.95 Td (activities. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 671.45 Td (This ) Tj ET Q q 0 0 0 rg BT 187.67 671.45 Td (section ) Tj ET Q q 0 0 0 rg BT 222.35 671.45 Td (also ) Tj ET Q q 0 0 0 rg BT 245.03 671.45 Td (describes ) Tj ET Q q 0 0 0 rg BT 289.72 671.45 Td (the ) Tj ET Q q 0 0 0 rg BT 308.40 671.45 Td (Company) Tj ET Q q 0 0 0 rg BT 348.83 671.45 Td (s ) Tj ET Q q 0 0 0 rg BT 359.42 671.45 Td (available ) Tj ET Q q 0 0 0 rg BT 401.11 671.45 Td (capital ) Tj ET Q q 0 0 0 rg BT 433.29 671.45 Td (resources, ) Tj ET Q q 0 0 0 rg BT 481.48 671.45 Td (financial ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 657.95 Td (instruments, ) Tj ET Q q 0 0 0 rg BT 214.81 657.95 Td (and ) Tj ET Q q 0 0 0 rg BT 231.13 657.95 Td (of) Tj ET Q q 0 0 0 rg BT 238.55 657.95 Td (f-balance ) Tj ET Q q 0 0 0 rg BT 276.79 657.95 Td (sheet ) Tj ET Q q 0 0 0 rg BT 300.10 657.95 Td (financing ) Tj ET Q q 0 0 0 rg BT 337.43 657.95 Td (and ) Tj ET Q q 0 0 0 rg BT 353.74 657.95 Td (guarantees. ) Tj ET Q q 0 0 0 rg BT 402.57 657.95 Td (Measures ) Tj ET Q q 0 0 0 rg BT 443.39 657.95 Td (of ) Tj ET Q q 0 0 0 rg BT 452.19 657.95 Td (capital ) Tj ET Q q 0 0 0 rg BT 479.50 657.95 Td (structure ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 644.45 Td (\(net ) Tj ET Q q 0 0 0 rg BT 182.68 644.45 Td (debt ) Tj ET Q q 0 0 0 rg BT 202.86 644.45 Td (to ) Tj ET Q q 0 0 0 rg BT 213.03 644.45 Td (capitalization, ) Tj ET Q q 0 0 0 rg BT 270.23 644.45 Td (ROE, ) Tj ET Q q 0 0 0 rg BT 294.91 644.45 Td (and ) Tj ET Q q 0 0 0 rg BT 312.59 644.45 Td (ROIC\) ) Tj ET Q q 0 0 0 rg BT 340.75 644.45 Td (and ) Tj ET Q q 0 0 0 rg BT 358.44 644.45 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 391.12 644.45 Td (\(DSO\) ) Tj ET Q q 0 0 0 rg BT 419.29 644.45 Td (are ) Tj ET Q q 0 0 0 rg BT 434.96 644.45 Td (analyzed ) Tj ET Q q 0 0 0 rg BT 473.66 644.45 Td (on ) Tj ET Q q 0 0 0 rg BT 486.34 644.45 Td (a ) Tj ET Q q 0 0 0 rg BT 494.01 644.45 Td (year-) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 630.95 Td (over-year ) Tj ET Q q 0 0 0 rg BT 205.01 630.95 Td (basis.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 606.95 Td (4.1. ) Tj ET Q q 0 0 0 rg BT 182.01 606.95 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 247.05 606.95 Td (Statements ) Tj ET Q q 0 0 0 rg BT 295.07 606.95 Td (of ) Tj ET Q q 0 0 0 rg BT 305.08 606.95 Td (Cash ) Tj ET Q q 0 0 0 rg BT 328.59 606.95 Td (Flows) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 593.95 Td (4.2. ) Tj ET Q q 0 0 0 rg BT 182.01 593.95 Td (Capital ) Tj ET Q q 0 0 0 rg BT 222.53 593.95 Td (Resources) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 580.95 Td (4.3. ) Tj ET Q q 0 0 0 rg BT 182.01 580.95 Td (Contractual ) Tj ET Q q 0 0 0 rg BT 240.54 580.95 Td (Obligations) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 567.95 Td (4.4. ) Tj ET Q q 0 0 0 rg BT 182.01 567.95 Td (Financial ) Tj ET Q q 0 0 0 rg BT 230.53 567.95 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 280.05 567.95 Td (and ) Tj ET Q q 0 0 0 rg BT 297.57 567.95 Td (Hedging ) Tj ET Q q 0 0 0 rg BT 333.51 567.95 Td (T) Tj ET Q q 0 0 0 rg BT 338.76 567.95 Td (ransactions) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 554.95 Td (4.5. ) Tj ET Q q 0 0 0 rg BT 182.01 554.95 Td (Selected ) Tj ET Q q 0 0 0 rg BT 229.54 554.95 Td (Measures ) Tj ET Q q 0 0 0 rg BT 271.56 554.95 Td (of ) Tj ET Q q 0 0 0 rg BT 281.56 554.95 Td (Liquidity ) Tj ET Q q 0 0 0 rg BT 317.08 554.95 Td (and ) Tj ET Q q 0 0 0 rg BT 334.60 554.95 Td (Capital ) Tj ET Q q 0 0 0 rg BT 365.11 554.95 Td (Resources) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 541.95 Td (4.6. ) Tj ET Q q 0 0 0 rg BT 182.01 541.95 Td (Of) Tj ET Q q 0 0 0 rg BT 201.43 541.95 Td (f-Balance ) Tj ET Q q 0 0 0 rg BT 241.87 541.95 Td (Sheet ) Tj ET Q q 0 0 0 rg BT 267.89 541.95 Td (Financing ) Tj ET Q q 0 0 0 rg BT 309.42 541.95 Td (and ) Tj ET Q q 0 0 0 rg BT 326.94 541.95 Td (Guarantees) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 528.95 Td (4.7. ) Tj ET Q q 0 0 0 rg BT 182.01 528.95 Td (Capability ) Tj ET Q q 0 0 0 rg BT 234.03 528.95 Td (to ) Tj ET Q q 0 0 0 rg BT 244.04 528.95 Td (Deliver ) Tj ET Q q 0 0 0 rg BT 274.55 528.95 Td (Results) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 507.95 Td (5.Fourth Quarter) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 75.00 494.45 Td (Results) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 507.95 Td (A) Tj ET Q q 0 0 0 rg BT 170.01 507.95 Td ( ) Tj ET Q q 0 0 0 rg BT 173.04 507.95 Td (discussion ) Tj ET Q q 0 0 0 rg BT 218.09 507.95 Td (of ) Tj ET Q q 0 0 0 rg BT 228.62 507.95 Td (year-over-year ) Tj ET Q q 0 0 0 rg BT 290.17 507.95 Td (changes ) Tj ET Q q 0 0 0 rg BT 327.22 507.95 Td (to ) Tj ET Q q 0 0 0 rg BT 337.76 507.95 Td (operating ) Tj ET Q q 0 0 0 rg BT 378.32 507.95 Td (results ) Tj ET Q q 0 0 0 rg BT 407.85 507.95 Td (between ) Tj ET Q q 0 0 0 rg BT 444.91 507.95 Td (the ) Tj ET Q q 0 0 0 rg BT 460.45 507.95 Td (three ) Tj ET Q q 0 0 0 rg BT 483.99 507.95 Td (months ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 494.45 Td (ended ) Tj ET Q q 0 0 0 rg BT 191.93 494.45 Td (September ) Tj ET Q q 0 0 0 rg BT 238.36 494.45 Td (30, ) Tj ET Q q 0 0 0 rg BT 253.27 494.45 Td (2016 ) Tj ET Q q 0 0 0 rg BT 275.70 494.45 Td (and ) Tj ET Q q 0 0 0 rg BT 293.11 494.45 Td (2015, ) Tj ET Q q 0 0 0 rg BT 318.04 494.45 Td (describing ) Tj ET Q q 0 0 0 rg BT 361.46 494.45 Td (the ) Tj ET Q q 0 0 0 rg BT 376.38 494.45 Td (factors ) Tj ET Q q 0 0 0 rg BT 405.79 494.45 Td (af) Tj ET Q q 0 0 0 rg BT 413.13 494.45 Td (fecting ) Tj ET Q q 0 0 0 rg BT 442.05 494.45 Td (revenue, ) Tj ET Q q 0 0 0 rg BT 479.48 494.45 Td (adjusted ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 480.95 Td (EBIT) Tj ET Q q 0 0 0 rg BT 184.34 480.95 Td ( ) Tj ET Q q 0 0 0 rg BT 187.92 480.95 Td (earnings ) Tj ET Q q 0 0 0 rg BT 226.02 480.95 Td (on ) Tj ET Q q 0 0 0 rg BT 239.60 480.95 Td (a ) Tj ET Q q 0 0 0 rg BT 248.19 480.95 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 302.30 480.95 Td (and ) Tj ET Q q 0 0 0 rg BT 320.89 480.95 Td (reportable ) Tj ET Q q 0 0 0 rg BT 364.99 480.95 Td (segment ) Tj ET Q q 0 0 0 rg BT 403.09 480.95 Td (basis ) Tj ET Q q 0 0 0 rg BT 427.68 480.95 Td (as ) Tj ET Q q 0 0 0 rg BT 440.76 480.95 Td (well ) Tj ET Q q 0 0 0 rg BT 459.84 480.95 Td (as ) Tj ET Q q 0 0 0 rg BT 472.92 480.95 Td (cash ) Tj ET Q q 0 0 0 rg BT 495.51 480.95 Td (from ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 467.45 Td (operating, ) Tj ET Q q 0 0 0 rg BT 207.03 467.45 Td (investing ) Tj ET Q q 0 0 0 rg BT 245.05 467.45 Td (and ) Tj ET Q q 0 0 0 rg BT 262.57 467.45 Td (financing ) Tj ET Q q 0 0 0 rg BT 301.10 467.45 Td (activities.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 443.95 Td (5.1. Foreign Exchange) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 430.95 Td (5.2. Revenue Variation and Revenue by Segment) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 417.95 Td (5.3. Adjusted EBIT by Segment) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 404.95 Td (5.4. Net Earnings and EPS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 391.95 Td (5.5. Consolidated Statements of Cash Flows) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 370.95 Td (6.Eight Quarter) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 75.00 357.45 Td (Summary) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 370.95 Td (A) Tj ET Q q 0 0 0 rg BT 170.25 370.95 Td ( ) Tj ET Q q 0 0 0 rg BT 172.16 370.95 Td (summary ) Tj ET Q q 0 0 0 rg BT 211.32 370.95 Td (of ) Tj ET Q q 0 0 0 rg BT 220.98 370.95 Td (the ) Tj ET Q q 0 0 0 rg BT 235.64 370.95 Td (past ) Tj ET Q q 0 0 0 rg BT 254.81 370.95 Td (eight ) Tj ET Q q 0 0 0 rg BT 276.48 370.95 Td (quarters) Tj ET Q q 0 0 0 rg BT 311.33 370.95 Td ( ) Tj ET Q q 0 0 0 rg BT 313.32 370.95 Td (key ) Tj ET Q q 0 0 0 rg BT 329.48 370.95 Td (performance ) Tj ET Q q 0 0 0 rg BT 382.16 370.95 Td (measures ) Tj ET Q q 0 0 0 rg BT 423.83 370.95 Td (and ) Tj ET Q q 0 0 0 rg BT 441.00 370.95 Td (a ) Tj ET Q q 0 0 0 rg BT 448.16 370.95 Td (discussion ) Tj ET Q q 0 0 0 rg BT 492.33 370.95 Td (of ) Tj ET Q q 0 0 0 rg BT 501.99 370.95 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 357.45 Td (factors ) Tj ET Q q 0 0 0 rg BT 194.01 357.45 Td (that ) Tj ET Q q 0 0 0 rg BT 211.52 357.45 Td (could ) Tj ET Q q 0 0 0 rg BT 235.54 357.45 Td (impact ) Tj ET Q q 0 0 0 rg BT 264.55 357.45 Td (our ) Tj ET Q q 0 0 0 rg BT 280.05 357.45 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 317.57 357.45 Td (results.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 330.95 Td (7. ) Tj ET Q q 0 0 0 rg BT 75.00 330.95 Td (Changes in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 75.00 317.45 Td (Accounting Policies) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 332.95 Td (A) Tj ET Q q 0 0 0 rg BT 170.25 332.95 Td ( ) Tj ET Q q 0 0 0 rg BT 172.51 332.95 Td (summary ) Tj ET Q q 0 0 0 rg BT 212.01 332.95 Td (of ) Tj ET Q q 0 0 0 rg BT 222.02 332.95 Td (the ) Tj ET Q q 0 0 0 rg BT 237.03 332.95 Td (future ) Tj ET Q q 0 0 0 rg BT 262.54 332.95 Td (accounting ) Tj ET Q q 0 0 0 rg BT 308.57 332.95 Td (standard ) Tj ET Q q 0 0 0 rg BT 346.10 332.95 Td (changes.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 293.95 Td (8.Critical Accounting) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 75.00 280.45 Td (Estimates) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 293.95 Td (A discussion of the critical accounting estimates made in the preparation of the audited) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 280.45 Td (consolidated financial statements.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 251.95 Td (9.Integrity of) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 75.00 238.45 Td (Disclosure) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 252.95 Td (A) Tj ET Q q 0 0 0 rg BT 170.25 252.95 Td ( ) Tj ET Q q 0 0 0 rg BT 171.81 252.95 Td (discussion ) Tj ET Q q 0 0 0 rg BT 215.63 252.95 Td (of ) Tj ET Q q 0 0 0 rg BT 224.94 252.95 Td (the ) Tj ET Q q 0 0 0 rg BT 239.25 252.95 Td (existence ) Tj ET Q q 0 0 0 rg BT 279.08 252.95 Td (of ) Tj ET Q q 0 0 0 rg BT 288.38 252.95 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 335.72 252.95 Td (information ) Tj ET Q q 0 0 0 rg BT 382.04 252.95 Td (systems, ) Tj ET Q q 0 0 0 rg BT 419.35 252.95 Td (procedures ) Tj ET Q q 0 0 0 rg BT 466.18 252.95 Td (and ) Tj ET Q q 0 0 0 rg BT 482.99 252.95 Td (controls ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 239.45 Td (to ) Tj ET Q q 0 0 0 rg BT 173.62 239.45 Td (ensure ) Tj ET Q q 0 0 0 rg BT 202.74 239.45 Td (that ) Tj ET Q q 0 0 0 rg BT 219.36 239.45 Td (information ) Tj ET Q q 0 0 0 rg BT 265.49 239.45 Td (used ) Tj ET Q q 0 0 0 rg BT 286.62 239.45 Td (internally ) Tj ET Q q 0 0 0 rg BT 324.25 239.45 Td (and ) Tj ET Q q 0 0 0 rg BT 340.87 239.45 Td (disclosed ) Tj ET Q q 0 0 0 rg BT 380.00 239.45 Td (externally ) Tj ET Q q 0 0 0 rg BT 420.13 239.45 Td (is ) Tj ET Q q 0 0 0 rg BT 428.24 239.45 Td (complete ) Tj ET Q q 0 0 0 rg BT 466.37 239.45 Td (and ) Tj ET Q q 0 0 0 rg BT 482.99 239.45 Td (reliable.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 215.95 Td (10. Risk Environment) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 215.95 Td (A) Tj ET Q q 0 0 0 rg BT 170.01 215.95 Td ( ) Tj ET Q q 0 0 0 rg BT 172.84 215.95 Td (discussion ) Tj ET Q q 0 0 0 rg BT 217.69 215.95 Td (of ) Tj ET Q q 0 0 0 rg BT 228.03 215.95 Td (the ) Tj ET Q q 0 0 0 rg BT 243.38 215.95 Td (risks ) Tj ET Q q 0 0 0 rg BT 264.71 215.95 Td (af) Tj ET Q q 0 0 0 rg BT 272.05 215.95 Td (fecting ) Tj ET Q q 0 0 0 rg BT 301.40 215.95 Td (our ) Tj ET Q q 0 0 0 rg BT 317.25 215.95 Td (business ) Tj ET Q q 0 0 0 rg BT 355.60 215.95 Td (activities ) Tj ET Q q 0 0 0 rg BT 392.95 215.95 Td (and ) Tj ET Q q 0 0 0 rg BT 410.80 215.95 Td (what ) Tj ET Q q 0 0 0 rg BT 432.64 215.95 Td (may ) Tj ET Q q 0 0 0 rg BT 452.48 215.95 Td (be ) Tj ET Q q 0 0 0 rg BT 465.32 215.95 Td (the ) Tj ET Q q 0 0 0 rg BT 480.67 215.95 Td (impact ) Tj ET Q q 0 0 0 rg BT 510.01 215.95 Td (if ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 202.45 Td (these ) Tj ET Q q 0 0 0 rg BT 189.02 202.45 Td (risks ) Tj ET Q q 0 0 0 rg BT 210.01 202.45 Td (are ) Tj ET Q q 0 0 0 rg BT 225.52 202.45 Td (realized.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 178.95 Td (10.1. ) Tj ET Q q 0 0 0 rg BT 187.02 178.95 Td (Risks ) Tj ET Q q 0 0 0 rg BT 219.02 178.95 Td (and ) Tj ET Q q 0 0 0 rg BT 236.54 178.95 Td (Uncertainties) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.50 165.95 Td (10.2.Legal ) Tj ET Q q 0 0 0 rg BT 219.04 165.95 Td (Proceedings) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 606.95 Td (23) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 593.95 Td (26) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 580.95 Td (27) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 567.95 Td (27) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 554.95 Td (28) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 541.95 Td (28) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 528.95 Td (29) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 443.95 Td (30) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 430.95 Td (31) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 417.95 Td (34) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 404.95 Td (36) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 391.95 Td (38) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 370.95 Td (40) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 332.95 Td (42) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 293.95 Td (43) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 252.95 Td (46) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 178.95 Td (47) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.95 165.95 Td (54) Tj ET Q BT /F3 9.00 Tf ET endstream endobj 15 0 obj <> endobj 16 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 554.85 22.10 Td (6) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 49.50 706.80 Td (1. ) Tj ET Q q 0 0 0 rg BT 72.00 706.80 Td (Corporate Overview) Tj ET Q 0 0 0 RG /GS0 gs 1.50 w 0 i [] 0 d 0 J 0 j 3 M 57.5 696.3 m 57.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 692.3 m 57.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 57.5 692.3 m 142.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 142.5 692.3 m 228.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 228.5 692.3 m 313.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 692.3 m 431.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 692.3 m 561.5 692.3 l s 0 0 0 RG /GS0 gs 1.50 w 0 i [] 0 d 0 J 0 j 3 M 57.5 692.3 m 57.5 688.3 l s BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 669.00 Td (1.1. ) Tj ET Q q 0 0 0 rg BT 90.68 669.00 Td (ABOUT ) Tj ET Q q 0 0 0 rg BT 125.18 669.00 Td (CGI) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 649.50 Td (Founded ) Tj ET Q q 0 0 0 rg BT 108.53 649.50 Td (in ) Tj ET Q q 0 0 0 rg BT 117.03 649.50 Td (1976 ) Tj ET Q q 0 0 0 rg BT 138.54 649.50 Td (and ) Tj ET Q q 0 0 0 rg BT 155.05 649.50 Td (headquartered ) Tj ET Q q 0 0 0 rg BT 215.10 649.50 Td (in ) Tj ET Q q 0 0 0 rg BT 223.60 649.50 Td (Montral, ) Tj ET Q q 0 0 0 rg BT 262.61 649.50 Td (Canada, ) Tj ET Q q 0 0 0 rg BT 298.13 649.50 Td (CGI ) Tj ET Q q 0 0 0 rg BT 315.63 649.50 Td (is ) Tj ET Q q 0 0 0 rg BT 323.62 649.50 Td (among ) Tj ET Q q 0 0 0 rg BT 352.64 649.50 Td (the ) Tj ET Q q 0 0 0 rg BT 366.65 649.50 Td (largest ) Tj ET Q q 0 0 0 rg BT 395.15 649.50 Td (Information ) Tj ET Q q 0 0 0 rg BT 441.57 649.50 Td (T) Tj ET Q q 0 0 0 rg BT 446.07 649.50 Td (echnology ) Tj ET Q q 0 0 0 rg BT 488.60 649.50 Td (\("IT"\) ) Tj ET Q q 0 0 0 rg BT 510.48 649.50 Td (and ) Tj ET Q q 0 0 0 rg BT 526.99 649.50 Td (business ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 636.00 Td (process ) Tj ET Q q 0 0 0 rg BT 106.94 636.00 Td (service ) Tj ET Q q 0 0 0 rg BT 139.37 636.00 Td (providers ) Tj ET Q q 0 0 0 rg BT 180.31 636.00 Td (in ) Tj ET Q q 0 0 0 rg BT 191.24 636.00 Td (the ) Tj ET Q q 0 0 0 rg BT 207.68 636.00 Td (world, ) Tj ET Q q 0 0 0 rg BT 235.61 636.00 Td (with ) Tj ET Q q 0 0 0 rg BT 255.54 636.00 Td (approximately ) Tj ET Q q 0 0 0 rg BT 315.49 636.00 Td (68,000 ) Tj ET Q q 0 0 0 rg BT 346.94 636.00 Td (professionals. ) Tj ET Q q 0 0 0 rg BT 406.14 636.00 Td (Through ) Tj ET Q q 0 0 0 rg BT 443.59 636.00 Td (high-end ) Tj ET Q q 0 0 0 rg BT 482.54 636.00 Td (consulting, ) Tj ET Q q 0 0 0 rg BT 529.50 636.00 Td (systems ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 622.50 Td (integration, ) Tj ET Q q 0 0 0 rg BT 118.23 622.50 Td (transformational ) Tj ET Q q 0 0 0 rg BT 184.95 622.50 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 233.68 622.50 Td (and ) Tj ET Q q 0 0 0 rg BT 250.90 622.50 Td (Intellectual ) Tj ET Q q 0 0 0 rg BT 296.12 622.50 Td (Property ) Tj ET Q q 0 0 0 rg BT 332.33 622.50 Td (\("IP"\) ) Tj ET Q q 0 0 0 rg BT 355.42 622.50 Td (solutions, ) Tj ET Q q 0 0 0 rg BT 395.64 622.50 Td (combined ) Tj ET Q q 0 0 0 rg BT 436.86 622.50 Td (with ) Tj ET Q q 0 0 0 rg BT 455.06 622.50 Td (in-depth ) Tj ET Q q 0 0 0 rg BT 489.78 622.50 Td (industry ) Tj ET Q q 0 0 0 rg BT 523.49 622.50 Td (expertise, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 609.00 Td (CGI ) Tj ET Q q 0 0 0 rg BT 89.67 609.00 Td (works ) Tj ET Q q 0 0 0 rg BT 115.35 609.00 Td (with ) Tj ET Q q 0 0 0 rg BT 133.52 609.00 Td (clients ) Tj ET Q q 0 0 0 rg BT 161.21 609.00 Td (across ) Tj ET Q q 0 0 0 rg BT 189.88 609.00 Td (the ) Tj ET Q q 0 0 0 rg BT 204.57 609.00 Td (globe ) Tj ET Q q 0 0 0 rg BT 228.76 609.00 Td (through ) Tj ET Q q 0 0 0 rg BT 261.46 609.00 Td (a ) Tj ET Q q 0 0 0 rg BT 268.63 609.00 Td (unique ) Tj ET Q q 0 0 0 rg BT 297.83 609.00 Td (client ) Tj ET Q q 0 0 0 rg BT 321.01 609.00 Td (proximity ) Tj ET Q q 0 0 0 rg BT 359.19 609.00 Td (and ) Tj ET Q q 0 0 0 rg BT 376.38 609.00 Td (best-fit ) Tj ET Q q 0 0 0 rg BT 405.56 609.00 Td (global ) Tj ET Q q 0 0 0 rg BT 431.75 609.00 Td (delivery ) Tj ET Q q 0 0 0 rg BT 464.94 609.00 Td (model ) Tj ET Q q 0 0 0 rg BT 491.62 609.00 Td (to ) Tj ET Q q 0 0 0 rg BT 501.30 609.00 Td (accelerate ) Tj ET Q q 0 0 0 rg BT 544.99 609.00 Td (their ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 595.50 Td (digital ) Tj ET Q q 0 0 0 rg BT 97.52 595.50 Td (transformation ) Tj ET Q q 0 0 0 rg BT 157.54 595.50 Td (and ) Tj ET Q q 0 0 0 rg BT 175.06 595.50 Td (drive ) Tj ET Q q 0 0 0 rg BT 197.06 595.50 Td (competitive ) Tj ET Q q 0 0 0 rg BT 245.08 595.50 Td (advantage. ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 71.50 576.00 Td (End-to-end ) Tj ET Q q 0 0 0 rg BT 121.49 576.00 Td (services) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 559.50 Td (CGI ) Tj ET Q q 0 0 0 rg BT 92.27 559.50 Td (delivers ) Tj ET Q q 0 0 0 rg BT 128.05 559.50 Td (end-to-end ) Tj ET Q q 0 0 0 rg BT 176.35 559.50 Td (services ) Tj ET Q q 0 0 0 rg BT 214.12 559.50 Td (that ) Tj ET Q q 0 0 0 rg BT 233.90 559.50 Td (cover ) Tj ET Q q 0 0 0 rg BT 260.68 559.50 Td (the ) Tj ET Q q 0 0 0 rg BT 277.96 559.50 Td (full ) Tj ET Q q 0 0 0 rg BT 294.23 559.50 Td (spectrum ) Tj ET Q q 0 0 0 rg BT 336.01 559.50 Td (of ) Tj ET Q q 0 0 0 rg BT 348.28 559.50 Td (delivery; ) Tj ET Q q 0 0 0 rg BT 386.56 559.50 Td (from ) Tj ET Q q 0 0 0 rg BT 409.33 559.50 Td (solution ) Tj ET Q q 0 0 0 rg BT 445.12 559.50 Td (design ) Tj ET Q q 0 0 0 rg BT 476.41 559.50 Td (and ) Tj ET Q q 0 0 0 rg BT 496.19 559.50 Td (development, ) Tj ET Q q 0 0 0 rg BT 554.99 559.50 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 546.00 Td (implementation, ) Tj ET Q q 0 0 0 rg BT 137.53 546.00 Td (integration ) Tj ET Q q 0 0 0 rg BT 182.06 546.00 Td (and ) Tj ET Q q 0 0 0 rg BT 199.58 546.00 Td (technology ) Tj ET Q q 0 0 0 rg BT 245.61 546.00 Td (operations. ) Tj ET Q q 0 0 0 rg BT 292.64 546.00 Td (Our ) Tj ET Q q 0 0 0 rg BT 310.15 546.00 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 344.66 546.00 Td (encompasses:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 85.50 526.50 Td ( ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 103.50 526.50 Td (High-end ) Tj ET Q q 0 0 0 rg BT 143.85 526.50 Td (consulting ) Tj ET Q q 0 0 0 rg BT 190.71 526.50 Td (and ) Tj ET Q q 0 0 0 rg BT 208.06 526.50 Td (system ) Tj ET Q q 0 0 0 rg BT 240.44 526.50 Td (integration: ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 291.30 526.50 Td (CGI ) Tj ET Q q 0 0 0 rg BT 308.65 526.50 Td (helps ) Tj ET Q q 0 0 0 rg BT 331.53 526.50 Td (clients ) Tj ET Q q 0 0 0 rg BT 358.40 526.50 Td (form ) Tj ET Q q 0 0 0 rg BT 377.75 526.50 Td (their ) Tj ET Q q 0 0 0 rg BT 396.62 526.50 Td (digital ) Tj ET Q q 0 0 0 rg BT 421.49 526.50 Td (roadmap, ) Tj ET Q q 0 0 0 rg BT 460.87 526.50 Td (adopting ) Tj ET Q q 0 0 0 rg BT 496.76 526.50 Td (an ) Tj ET Q q 0 0 0 rg BT 508.13 526.50 Td (agile, ) Tj ET Q q 0 0 0 rg BT 531.00 526.50 Td (iterative ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 513.00 Td (approach ) Tj ET Q q 0 0 0 rg BT 143.53 513.00 Td (that ) Tj ET Q q 0 0 0 rg BT 161.04 513.00 Td (enables ) Tj ET Q q 0 0 0 rg BT 195.07 513.00 Td (them ) Tj ET Q q 0 0 0 rg BT 217.58 513.00 Td (to ) Tj ET Q q 0 0 0 rg BT 227.58 513.00 Td (innovate, ) Tj ET Q q 0 0 0 rg BT 266.61 513.00 Td (connect ) Tj ET Q q 0 0 0 rg BT 300.63 513.00 Td (and ) Tj ET Q q 0 0 0 rg BT 318.15 513.00 Td (rationalize ) Tj ET Q q 0 0 0 rg BT 361.67 513.00 Td (legacy ) Tj ET Q q 0 0 0 rg BT 390.19 513.00 Td (systems ) Tj ET Q q 0 0 0 rg BT 425.69 513.00 Td (to ) Tj ET Q q 0 0 0 rg BT 435.70 513.00 Td (deliver ) Tj ET Q q 0 0 0 rg BT 464.71 513.00 Td (enterprise-wide ) Tj ET Q q 0 0 0 rg BT 528.74 513.00 Td (change.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 85.50 493.50 Td ( ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 103.50 493.50 Td (T) Tj ET Q q 0 0 0 rg BT 108.50 493.50 Td (ransformational ) Tj ET Q q 0 0 0 rg BT 180.22 493.50 Td (outsourcing) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 232.21 493.50 Td (: ) Tj ET Q q 0 0 0 rg BT 238.42 493.50 Td (Our ) Tj ET Q q 0 0 0 rg BT 257.12 493.50 Td (clients ) Tj ET Q q 0 0 0 rg BT 286.33 493.50 Td (entrust ) Tj ET Q q 0 0 0 rg BT 317.55 493.50 Td (us ) Tj ET Q q 0 0 0 rg BT 330.75 493.50 Td (with ) Tj ET Q q 0 0 0 rg BT 350.46 493.50 Td (full ) Tj ET Q q 0 0 0 rg BT 365.67 493.50 Td (or ) Tj ET Q q 0 0 0 rg BT 377.37 493.50 Td (partial ) Tj ET Q q 0 0 0 rg BT 405.59 493.50 Td (responsibility ) Tj ET Q q 0 0 0 rg BT 461.31 493.50 Td (for ) Tj ET Q q 0 0 0 rg BT 475.51 493.50 Td (their ) Tj ET Q q 0 0 0 rg BT 496.72 493.50 Td (IT) Tj ET Q q 0 0 0 rg BT 504.56 493.50 Td ( ) Tj ET Q q 0 0 0 rg BT 508.26 493.50 Td (and ) Tj ET Q q 0 0 0 rg BT 526.98 493.50 Td (business ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 480.00 Td (functions. ) Tj ET Q q 0 0 0 rg BT 144.97 480.00 Td (In ) Tj ET Q q 0 0 0 rg BT 155.42 480.00 Td (return, ) Tj ET Q q 0 0 0 rg BT 184.37 480.00 Td (we ) Tj ET Q q 0 0 0 rg BT 198.82 480.00 Td (deliver ) Tj ET Q q 0 0 0 rg BT 228.28 480.00 Td (significant ) Tj ET Q q 0 0 0 rg BT 271.24 480.00 Td (ef) Tj ET Q q 0 0 0 rg BT 278.58 480.00 Td (ficiency ) Tj ET Q q 0 0 0 rg BT 311.54 480.00 Td (improvements ) Tj ET Q q 0 0 0 rg BT 371.00 480.00 Td (and ) Tj ET Q q 0 0 0 rg BT 388.96 480.00 Td (cost ) Tj ET Q q 0 0 0 rg BT 408.41 480.00 Td (savings. ) Tj ET Q q 0 0 0 rg BT 444.18 480.00 Td (T) Tj ET Q q 0 0 0 rg BT 449.18 480.00 Td (ypical ) Tj ET Q q 0 0 0 rg BT 475.13 480.00 Td (services ) Tj ET Q q 0 0 0 rg BT 511.08 480.00 Td (in ) Tj ET Q q 0 0 0 rg BT 521.03 480.00 Td (an ) Tj ET Q q 0 0 0 rg BT 533.99 480.00 Td (end-to-) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 466.50 Td (end ) Tj ET Q q 0 0 0 rg BT 125.04 466.50 Td (engagement ) Tj ET Q q 0 0 0 rg BT 181.61 466.50 Td (include: ) Tj ET Q q 0 0 0 rg BT 219.15 466.50 Td (application ) Tj ET Q q 0 0 0 rg BT 268.71 466.50 Td (development, ) Tj ET Q q 0 0 0 rg BT 329.27 466.50 Td (integration ) Tj ET Q q 0 0 0 rg BT 377.82 466.50 Td (and ) Tj ET Q q 0 0 0 rg BT 399.36 466.50 Td (maintenance; ) Tj ET Q q 0 0 0 rg BT 459.92 466.50 Td (technology ) Tj ET Q q 0 0 0 rg BT 509.98 466.50 Td (infrastructure ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 453.00 Td (management; ) Tj ET Q q 0 0 0 rg BT 161.39 453.00 Td (and ) Tj ET Q q 0 0 0 rg BT 179.26 453.00 Td (business ) Tj ET Q q 0 0 0 rg BT 217.64 453.00 Td (process ) Tj ET Q q 0 0 0 rg BT 252.01 453.00 Td (services, ) Tj ET Q q 0 0 0 rg BT 290.37 453.00 Td (such ) Tj ET Q q 0 0 0 rg BT 312.24 453.00 Td (as ) Tj ET Q q 0 0 0 rg BT 324.60 453.00 Td (collections ) Tj ET Q q 0 0 0 rg BT 369.48 453.00 Td (and ) Tj ET Q q 0 0 0 rg BT 387.35 453.00 Td (payroll ) Tj ET Q q 0 0 0 rg BT 416.72 453.00 Td (management. ) Tj ET Q q 0 0 0 rg BT 474.60 453.00 Td (Outsourcing ) Tj ET Q q 0 0 0 rg BT 525.98 453.00 Td (contracts ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 439.50 Td (are ) Tj ET Q q 0 0 0 rg BT 118.54 439.50 Td (long ) Tj ET Q q 0 0 0 rg BT 137.59 439.50 Td (term ) Tj ET Q q 0 0 0 rg BT 157.63 439.50 Td (in ) Tj ET Q q 0 0 0 rg BT 166.67 439.50 Td (nature, ) Tj ET Q q 0 0 0 rg BT 196.72 439.50 Td (with ) Tj ET Q q 0 0 0 rg BT 214.76 439.50 Td (a ) Tj ET Q q 0 0 0 rg BT 221.80 439.50 Td (typical ) Tj ET Q q 0 0 0 rg BT 249.35 439.50 Td (duration ) Tj ET Q q 0 0 0 rg BT 283.91 439.50 Td (of ) Tj ET Q q 0 0 0 rg BT 293.45 439.50 Td (5 ) Tj ET Q q 0 0 0 rg BT 300.49 439.50 Td (to ) Tj ET Q q 0 0 0 rg BT 310.03 439.50 Td (10 ) Tj ET Q q 0 0 0 rg BT 322.08 439.50 Td (or ) Tj ET Q q 0 0 0 rg BT 332.11 439.50 Td (more ) Tj ET Q q 0 0 0 rg BT 354.65 439.50 Td (years, ) Tj ET Q q 0 0 0 rg BT 381.20 439.50 Td (allowing ) Tj ET Q q 0 0 0 rg BT 415.75 439.50 Td (our ) Tj ET Q q 0 0 0 rg BT 430.80 439.50 Td (clients ) Tj ET Q q 0 0 0 rg BT 458.34 439.50 Td (to ) Tj ET Q q 0 0 0 rg BT 467.88 439.50 Td (reinvest ) Tj ET Q q 0 0 0 rg BT 501.43 439.50 Td (savings, ) Tj ET Q q 0 0 0 rg BT 536.48 439.50 Td (further ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 426.00 Td (driving ) Tj ET Q q 0 0 0 rg BT 132.51 426.00 Td (digital ) Tj ET Q q 0 0 0 rg BT 158.53 426.00 Td (transformation. ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 71.50 406.50 Td (Deep ) Tj ET Q q 0 0 0 rg BT 96.01 406.50 Td (industry ) Tj ET Q q 0 0 0 rg BT 134.01 406.50 Td (expertise) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 390.00 Td (CGI ) Tj ET Q q 0 0 0 rg BT 90.21 390.00 Td (has ) Tj ET Q q 0 0 0 rg BT 107.43 390.00 Td (long ) Tj ET Q q 0 0 0 rg BT 127.15 390.00 Td (and ) Tj ET Q q 0 0 0 rg BT 144.87 390.00 Td (focused ) Tj ET Q q 0 0 0 rg BT 179.10 390.00 Td (practices ) Tj ET Q q 0 0 0 rg BT 217.82 390.00 Td (in ) Tj ET Q q 0 0 0 rg BT 227.53 390.00 Td (all ) Tj ET Q q 0 0 0 rg BT 239.24 390.00 Td (of ) Tj ET Q q 0 0 0 rg BT 249.46 390.00 Td (our ) Tj ET Q q 0 0 0 rg BT 265.17 390.00 Td (core ) Tj ET Q q 0 0 0 rg BT 285.39 390.00 Td (industries, ) Tj ET Q q 0 0 0 rg BT 329.11 390.00 Td (providing ) Tj ET Q q 0 0 0 rg BT 368.34 390.00 Td (clients ) Tj ET Q q 0 0 0 rg BT 396.56 390.00 Td (with ) Tj ET Q q 0 0 0 rg BT 415.27 390.00 Td (a ) Tj ET Q q 0 0 0 rg BT 422.98 390.00 Td (partner ) Tj ET Q q 0 0 0 rg BT 454.21 390.00 Td (that ) Tj ET Q q 0 0 0 rg BT 471.93 390.00 Td (is ) Tj ET Q q 0 0 0 rg BT 481.13 390.00 Td (not ) Tj ET Q q 0 0 0 rg BT 496.35 390.00 Td (only ) Tj ET Q q 0 0 0 rg BT 515.57 390.00 Td (expert ) Tj ET Q q 0 0 0 rg BT 543.29 390.00 Td (in ) Tj ET Q q 0 0 0 rg BT 553.00 390.00 Td (IT) Tj ET Q q 0 0 0 rg BT 560.00 390.00 Td (, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 376.50 Td (but ) Tj ET Q q 0 0 0 rg BT 86.56 376.50 Td (expert ) Tj ET Q q 0 0 0 rg BT 114.13 376.50 Td (in ) Tj ET Q q 0 0 0 rg BT 123.68 376.50 Td (their ) Tj ET Q q 0 0 0 rg BT 143.74 376.50 Td (industries. ) Tj ET Q q 0 0 0 rg BT 187.14 376.50 Td (This ) Tj ET Q q 0 0 0 rg BT 206.70 376.50 Td (combination ) Tj ET Q q 0 0 0 rg BT 257.78 376.50 Td (of ) Tj ET Q q 0 0 0 rg BT 267.83 376.50 Td (business ) Tj ET Q q 0 0 0 rg BT 305.91 376.50 Td (knowledge ) Tj ET Q q 0 0 0 rg BT 351.49 376.50 Td (and ) Tj ET Q q 0 0 0 rg BT 369.05 376.50 Td (digital ) Tj ET Q q 0 0 0 rg BT 395.12 376.50 Td (technology ) Tj ET Q q 0 0 0 rg BT 441.20 376.50 Td (expertise ) Tj ET Q q 0 0 0 rg BT 480.27 376.50 Td (allows ) Tj ET Q q 0 0 0 rg BT 507.83 376.50 Td (us ) Tj ET Q q 0 0 0 rg BT 519.89 376.50 Td (to ) Tj ET Q q 0 0 0 rg BT 529.95 376.50 Td (help ) Tj ET Q q 0 0 0 rg BT 549.51 376.50 Td (our ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 363.00 Td (clients ) Tj ET Q q 0 0 0 rg BT 99.51 363.00 Td (adapt ) Tj ET Q q 0 0 0 rg BT 124.53 363.00 Td (as ) Tj ET Q q 0 0 0 rg BT 136.54 363.00 Td (their ) Tj ET Q q 0 0 0 rg BT 156.55 363.00 Td (industries ) Tj ET Q q 0 0 0 rg BT 197.57 363.00 Td (change ) Tj ET Q q 0 0 0 rg BT 229.59 363.00 Td (and, ) Tj ET Q q 0 0 0 rg BT 249.61 363.00 Td (in ) Tj ET Q q 0 0 0 rg BT 259.12 363.00 Td (the ) Tj ET Q q 0 0 0 rg BT 274.13 363.00 Td (process, ) Tj ET Q q 0 0 0 rg BT 310.64 363.00 Td (allows ) Tj ET Q q 0 0 0 rg BT 338.15 363.00 Td (us ) Tj ET Q q 0 0 0 rg BT 350.16 363.00 Td (to ) Tj ET Q q 0 0 0 rg BT 360.16 363.00 Td (evolve ) Tj ET Q q 0 0 0 rg BT 388.68 363.00 Td (the ) Tj ET Q q 0 0 0 rg BT 403.69 363.00 Td (industries ) Tj ET Q q 0 0 0 rg BT 444.71 363.00 Td (in ) Tj ET Q q 0 0 0 rg BT 454.22 363.00 Td (which ) Tj ET Q q 0 0 0 rg BT 479.73 363.00 Td (we ) Tj ET Q q 0 0 0 rg BT 493.73 363.00 Td (operate.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 343.50 Td (Our ) Tj ET Q q 0 0 0 rg BT 88.37 343.50 Td (targeted ) Tj ET Q q 0 0 0 rg BT 123.26 343.50 Td (industries ) Tj ET Q q 0 0 0 rg BT 163.65 343.50 Td (include: ) Tj ET Q q 0 0 0 rg BT 196.53 343.50 Td (government, ) Tj ET Q q 0 0 0 rg BT 248.43 343.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 283.31 343.50 Td (services, ) Tj ET Q q 0 0 0 rg BT 320.69 343.50 Td (health, ) Tj ET Q q 0 0 0 rg BT 349.58 343.50 Td (utilities, ) Tj ET Q q 0 0 0 rg BT 381.46 343.50 Td (telecommunications, ) Tj ET Q q 0 0 0 rg BT 465.36 343.50 Td (oil ) Tj ET Q q 0 0 0 rg BT 476.23 343.50 Td (& ) Tj ET Q q 0 0 0 rg BT 484.10 343.50 Td (gas, ) Tj ET Q q 0 0 0 rg BT 502.98 343.50 Td (manufacturing, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 330.00 Td (retail ) Tj ET Q q 0 0 0 rg BT 93.71 330.00 Td (& ) Tj ET Q q 0 0 0 rg BT 102.42 330.00 Td (consumer ) Tj ET Q q 0 0 0 rg BT 144.64 330.00 Td (services, ) Tj ET Q q 0 0 0 rg BT 182.86 330.00 Td (transportation ) Tj ET Q q 0 0 0 rg BT 240.59 330.00 Td (and ) Tj ET Q q 0 0 0 rg BT 258.32 330.00 Td (post ) Tj ET Q q 0 0 0 rg BT 278.03 330.00 Td (& ) Tj ET Q q 0 0 0 rg BT 286.74 330.00 Td (logistics. ) Tj ET Q q 0 0 0 rg BT 323.96 330.00 Td (While ) Tj ET Q q 0 0 0 rg BT 349.17 330.00 Td (these ) Tj ET Q q 0 0 0 rg BT 373.89 330.00 Td (represent ) Tj ET Q q 0 0 0 rg BT 414.62 330.00 Td (our ) Tj ET Q q 0 0 0 rg BT 430.33 330.00 Td (go-to-market ) Tj ET Q q 0 0 0 rg BT 484.05 330.00 Td (industry ) Tj ET Q q 0 0 0 rg BT 518.27 330.00 Td (targets, ) Tj ET Q q 0 0 0 rg BT 550.99 330.00 Td (we ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 316.50 Td (group ) Tj ET Q q 0 0 0 rg BT 99.65 316.50 Td (these ) Tj ET Q q 0 0 0 rg BT 126.81 316.50 Td (industries ) Tj ET Q q 0 0 0 rg BT 170.46 316.50 Td (into ) Tj ET Q q 0 0 0 rg BT 190.10 316.50 Td (the ) Tj ET Q q 0 0 0 rg BT 207.75 316.50 Td (following: ) Tj ET Q q 0 0 0 rg BT 250.41 316.50 Td (government; ) Tj ET Q q 0 0 0 rg BT 305.57 316.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 343.73 316.50 Td (services; ) Tj ET Q q 0 0 0 rg BT 384.37 316.50 Td (health; ) Tj ET Q q 0 0 0 rg BT 416.53 316.50 Td (telecommunications ) Tj ET Q q 0 0 0 rg BT 501.20 316.50 Td (& ) Tj ET Q q 0 0 0 rg BT 512.34 316.50 Td (utilities; ) Tj ET Q q 0 0 0 rg BT 547.48 316.50 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 303.00 Td (manufacturing, ) Tj ET Q q 0 0 0 rg BT 133.53 303.00 Td (retail ) Tj ET Q q 0 0 0 rg BT 155.54 303.00 Td (& ) Tj ET Q q 0 0 0 rg BT 164.04 303.00 Td (distribution ) Tj ET Q q 0 0 0 rg BT 210.07 303.00 Td (\("MRD"\).) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 283.50 Td (As ) Tj ET Q q 0 0 0 rg BT 84.49 283.50 Td (the ) Tj ET Q q 0 0 0 rg BT 99.49 283.50 Td (move ) Tj ET Q q 0 0 0 rg BT 123.98 283.50 Td (toward ) Tj ET Q q 0 0 0 rg BT 153.48 283.50 Td (digitalization ) Tj ET Q q 0 0 0 rg BT 205.50 283.50 Td (continues ) Tj ET Q q 0 0 0 rg BT 246.51 283.50 Td (to ) Tj ET Q q 0 0 0 rg BT 256.51 283.50 Td (increase ) Tj ET Q q 0 0 0 rg BT 293.01 283.50 Td (across ) Tj ET Q q 0 0 0 rg BT 322.01 283.50 Td (industries, ) Tj ET Q q 0 0 0 rg BT 365.51 283.50 Td (CGI ) Tj ET Q q 0 0 0 rg BT 384.00 283.50 Td (partners ) Tj ET Q q 0 0 0 rg BT 419.50 283.50 Td (with ) Tj ET Q q 0 0 0 rg BT 437.99 283.50 Td (clients ) Tj ET Q q 0 0 0 rg BT 465.99 283.50 Td (to ) Tj ET Q q 0 0 0 rg BT 475.98 283.50 Td (support ) Tj ET Q q 0 0 0 rg BT 508.49 283.50 Td (their ) Tj ET Q q 0 0 0 rg BT 528.48 283.50 Td (strategic ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 270.00 Td (initiatives. ) Tj ET Q q 0 0 0 rg BT 113.52 270.00 Td (W) Tj ET Q q 0 0 0 rg BT 121.85 270.00 Td (e ) Tj ET Q q 0 0 0 rg BT 129.35 270.00 Td (provide ) Tj ET Q q 0 0 0 rg BT 161.37 270.00 Td (extensive ) Tj ET Q q 0 0 0 rg BT 201.89 270.00 Td (industry ) Tj ET Q q 0 0 0 rg BT 235.91 270.00 Td (expertise ) Tj ET Q q 0 0 0 rg BT 274.93 270.00 Td (to ) Tj ET Q q 0 0 0 rg BT 284.93 270.00 Td (guide ) Tj ET Q q 0 0 0 rg BT 309.46 270.00 Td (them ) Tj ET Q q 0 0 0 rg BT 331.96 270.00 Td (in ) Tj ET Q q 0 0 0 rg BT 341.47 270.00 Td (becoming ) Tj ET Q q 0 0 0 rg BT 382.99 270.00 Td (customer-centric ) Tj ET Q q 0 0 0 rg BT 452.01 270.00 Td (digital ) Tj ET Q q 0 0 0 rg BT 478.02 270.00 Td (organizations.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 72.00 250.50 Td (Digital ) Tj ET Q q 0 0 0 rg BT 102.00 250.50 Td (IP) Tj ET Q q 0 0 0 rg BT 110.34 250.50 Td ( ) Tj ET Q q 0 0 0 rg BT 112.84 250.50 Td (solutions ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 231.00 Td (CGI) Tj ET Q q 0 0 0 rg BT 89.84 231.00 Td (s ) Tj ET Q q 0 0 0 rg BT 96.03 231.00 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 158.76 231.00 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 192.47 231.00 Td (of ) Tj ET Q q 0 0 0 rg BT 201.68 231.00 Td (IP) Tj ET Q q 0 0 0 rg BT 210.02 231.00 Td ( ) Tj ET Q q 0 0 0 rg BT 211.71 231.00 Td (solutions ) Tj ET Q q 0 0 0 rg BT 248.93 231.00 Td (support ) Tj ET Q q 0 0 0 rg BT 280.64 231.00 Td (our ) Tj ET Q q 0 0 0 rg BT 295.35 231.00 Td (clients) Tj ET Q q 0 0 0 rg BT 322.52 231.00 Td ( ) Tj ET Q q 0 0 0 rg BT 324.22 231.00 Td (mission-critical ) Tj ET Q q 0 0 0 rg BT 384.92 231.00 Td (business ) Tj ET Q q 0 0 0 rg BT 422.14 231.00 Td (functions ) Tj ET Q q 0 0 0 rg BT 459.86 231.00 Td (and ) Tj ET Q q 0 0 0 rg BT 476.57 231.00 Td (accelerate ) Tj ET Q q 0 0 0 rg BT 519.79 231.00 Td (their ) Tj ET Q q 0 0 0 rg BT 538.99 231.00 Td (digital ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 217.50 Td (transformation. ) Tj ET Q q 0 0 0 rg BT 134.88 217.50 Td (W) Tj ET Q q 0 0 0 rg BT 143.22 217.50 Td (e ) Tj ET Q q 0 0 0 rg BT 151.08 217.50 Td (of) Tj ET Q q 0 0 0 rg BT 158.42 217.50 Td (fer ) Tj ET Q q 0 0 0 rg BT 171.79 217.50 Td (more ) Tj ET Q q 0 0 0 rg BT 195.15 217.50 Td (than ) Tj ET Q q 0 0 0 rg BT 215.53 217.50 Td (150 ) Tj ET Q q 0 0 0 rg BT 233.40 217.50 Td (IP-based ) Tj ET Q q 0 0 0 rg BT 272.28 217.50 Td (solutions ) Tj ET Q q 0 0 0 rg BT 310.66 217.50 Td (for ) Tj ET Q q 0 0 0 rg BT 324.03 217.50 Td (the ) Tj ET Q q 0 0 0 rg BT 339.40 217.50 Td (industries ) Tj ET Q q 0 0 0 rg BT 380.77 217.50 Td (we ) Tj ET Q q 0 0 0 rg BT 395.14 217.50 Td (serve, ) Tj ET Q q 0 0 0 rg BT 422.51 217.50 Td (as ) Tj ET Q q 0 0 0 rg BT 434.87 217.50 Td (well ) Tj ET Q q 0 0 0 rg BT 453.23 217.50 Td (as ) Tj ET Q q 0 0 0 rg BT 465.60 217.50 Td (cross-industry ) Tj ET Q q 0 0 0 rg BT 524.47 217.50 Td (solutions. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 204.00 Td (These ) Tj ET Q q 0 0 0 rg BT 99.32 204.00 Td (solutions ) Tj ET Q q 0 0 0 rg BT 137.16 204.00 Td (include ) Tj ET Q q 0 0 0 rg BT 167.99 204.00 Td (digital-enabling ) Tj ET Q q 0 0 0 rg BT 230.84 204.00 Td (software ) Tj ET Q q 0 0 0 rg BT 267.17 204.00 Td (applications, ) Tj ET Q q 0 0 0 rg BT 319.51 204.00 Td (reusable ) Tj ET Q q 0 0 0 rg BT 356.34 204.00 Td (frameworks ) Tj ET Q q 0 0 0 rg BT 405.16 204.00 Td (and ) Tj ET Q q 0 0 0 rg BT 422.49 204.00 Td (innovative ) Tj ET Q q 0 0 0 rg BT 465.33 204.00 Td (delivery ) Tj ET Q q 0 0 0 rg BT 498.65 204.00 Td (methodologies ) Tj ET Q q 0 0 0 rg BT 559.50 204.00 Td (- ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 190.50 Td (like ) Tj ET Q q 0 0 0 rg BT 88.00 190.50 Td (Software ) Tj ET Q q 0 0 0 rg BT 126.02 190.50 Td (as ) Tj ET Q q 0 0 0 rg BT 138.03 190.50 Td (a ) Tj ET Q q 0 0 0 rg BT 145.53 190.50 Td (Service.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 71.50 171.00 Td (Client-inspired ) Tj ET Q q 0 0 0 rg BT 137.00 171.00 Td (innovation) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 154.50 Td (CGI ) Tj ET Q q 0 0 0 rg BT 89.85 154.50 Td (is ) Tj ET Q q 0 0 0 rg BT 98.70 154.50 Td (a ) Tj ET Q q 0 0 0 rg BT 106.05 154.50 Td (trusted ) Tj ET Q q 0 0 0 rg BT 135.91 154.50 Td (partner ) Tj ET Q q 0 0 0 rg BT 166.77 154.50 Td (with ) Tj ET Q q 0 0 0 rg BT 185.13 154.50 Td (more ) Tj ET Q q 0 0 0 rg BT 207.98 154.50 Td (than ) Tj ET Q q 0 0 0 rg BT 227.84 154.50 Td (40 ) Tj ET Q q 0 0 0 rg BT 240.20 154.50 Td (years ) Tj ET Q q 0 0 0 rg BT 264.56 154.50 Td (of ) Tj ET Q q 0 0 0 rg BT 274.41 154.50 Td (experience ) Tj ET Q q 0 0 0 rg BT 320.79 154.50 Td (in ) Tj ET Q q 0 0 0 rg BT 330.14 154.50 Td (delivering ) Tj ET Q q 0 0 0 rg BT 371.01 154.50 Td (innovative, ) Tj ET Q q 0 0 0 rg BT 416.38 154.50 Td (client-inspired ) Tj ET Q q 0 0 0 rg BT 474.26 154.50 Td (business ) Tj ET Q q 0 0 0 rg BT 512.13 154.50 Td (services ) Tj ET Q q 0 0 0 rg BT 547.48 154.50 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 141.00 Td (solutions. ) Tj ET Q q 0 0 0 rg BT 112.15 141.00 Td (Through ) Tj ET Q q 0 0 0 rg BT 148.48 141.00 Td (innovation ) Tj ET Q q 0 0 0 rg BT 192.32 141.00 Td (programs ) Tj ET Q q 0 0 0 rg BT 233.14 141.00 Td (and ) Tj ET Q q 0 0 0 rg BT 250.97 141.00 Td (investments, ) Tj ET Q q 0 0 0 rg BT 304.30 141.00 Td (CGI ) Tj ET Q q 0 0 0 rg BT 323.11 141.00 Td (supports ) Tj ET Q q 0 0 0 rg BT 360.44 141.00 Td (clients ) Tj ET Q q 0 0 0 rg BT 388.76 141.00 Td (with ) Tj ET Q q 0 0 0 rg BT 407.57 141.00 Td (their ) Tj ET Q q 0 0 0 rg BT 427.89 141.00 Td (most ) Tj ET Q q 0 0 0 rg BT 450.20 141.00 Td (strategic ) Tj ET Q q 0 0 0 rg BT 487.02 141.00 Td (initiatives. ) Tj ET Q q 0 0 0 rg BT 529.35 141.00 Td (W) Tj ET Q q 0 0 0 rg BT 537.68 141.00 Td (e ) Tj ET Q q 0 0 0 rg BT 545.50 141.00 Td (help ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 127.50 Td (develop, ) Tj ET Q q 0 0 0 rg BT 108.98 127.50 Td (innovate ) Tj ET Q q 0 0 0 rg BT 146.46 127.50 Td (and ) Tj ET Q q 0 0 0 rg BT 164.92 127.50 Td (protect ) Tj ET Q q 0 0 0 rg BT 195.89 127.50 Td (the ) Tj ET Q q 0 0 0 rg BT 211.85 127.50 Td (technology ) Tj ET Q q 0 0 0 rg BT 258.84 127.50 Td (that ) Tj ET Q q 0 0 0 rg BT 277.30 127.50 Td (enables ) Tj ET Q q 0 0 0 rg BT 312.28 127.50 Td (clients ) Tj ET Q q 0 0 0 rg BT 341.24 127.50 Td (to ) Tj ET Q q 0 0 0 rg BT 352.20 127.50 Td (achieve ) Tj ET Q q 0 0 0 rg BT 386.67 127.50 Td (their ) Tj ET Q q 0 0 0 rg BT 407.63 127.50 Td (digital ) Tj ET Q q 0 0 0 rg BT 434.60 127.50 Td (transformation ) Tj ET Q q 0 0 0 rg BT 495.57 127.50 Td (goals ) Tj ET Q q 0 0 0 rg BT 520.54 127.50 Td (faster ) Tj ET Q q 0 0 0 rg BT 546.50 127.50 Td (with ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 114.00 Td (reduced ) Tj ET Q q 0 0 0 rg BT 106.52 114.00 Td (risk ) Tj ET Q q 0 0 0 rg BT 123.02 114.00 Td (and ) Tj ET Q q 0 0 0 rg BT 140.54 114.00 Td (enduring ) Tj ET Q q 0 0 0 rg BT 178.07 114.00 Td (results.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 71.50 94.50 Td (Quality ) Tj ET Q q 0 0 0 rg BT 104.51 94.50 Td (processes) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 78.00 Td (CGI ) Tj ET Q q 0 0 0 rg BT 90.16 78.00 Td (clients ) Tj ET Q q 0 0 0 rg BT 118.33 78.00 Td (expect ) Tj ET Q q 0 0 0 rg BT 147.51 78.00 Td (consistency ) Tj ET Q q 0 0 0 rg BT 197.20 78.00 Td (of ) Tj ET Q q 0 0 0 rg BT 207.36 78.00 Td (service ) Tj ET Q q 0 0 0 rg BT 238.53 78.00 Td (wherever ) Tj ET Q q 0 0 0 rg BT 278.21 78.00 Td (and ) Tj ET Q q 0 0 0 rg BT 295.89 78.00 Td (whenever ) Tj ET Q q 0 0 0 rg BT 337.57 78.00 Td (they ) Tj ET Q q 0 0 0 rg BT 357.24 78.00 Td (engage ) Tj ET Q q 0 0 0 rg BT 389.94 78.00 Td (us. ) Tj ET Q q 0 0 0 rg BT 404.61 78.00 Td (W) Tj ET Q q 0 0 0 rg BT 412.94 78.00 Td (e ) Tj ET Q q 0 0 0 rg BT 420.60 78.00 Td (have ) Tj ET Q q 0 0 0 rg BT 442.78 78.00 Td (an ) Tj ET Q q 0 0 0 rg BT 455.45 78.00 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 504.65 78.00 Td (track ) Tj ET Q q 0 0 0 rg BT 526.82 78.00 Td (record ) Tj ET Q q 0 0 0 rg BT 554.99 78.00 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 64.50 Td (on-time, ) Tj ET Q q 0 0 0 rg BT 107.44 64.50 Td (within-budget ) Tj ET Q q 0 0 0 rg BT 164.41 64.50 Td (delivery ) Tj ET Q q 0 0 0 rg BT 198.85 64.50 Td (as ) Tj ET Q q 0 0 0 rg BT 211.79 64.50 Td (a ) Tj ET Q q 0 0 0 rg BT 220.23 64.50 Td (result ) Tj ET Q q 0 0 0 rg BT 245.67 64.50 Td (of ) Tj ET Q q 0 0 0 rg BT 256.61 64.50 Td (our ) Tj ET Q q 0 0 0 rg BT 273.05 64.50 Td (commitment ) Tj ET Q q 0 0 0 rg BT 325.49 64.50 Td (to ) Tj ET Q q 0 0 0 rg BT 336.42 64.50 Td (excellence ) Tj ET Q q 0 0 0 rg BT 382.38 64.50 Td (and ) Tj ET Q q 0 0 0 rg BT 400.83 64.50 Td (our ) Tj ET Q q 0 0 0 rg BT 417.27 64.50 Td (robust ) Tj ET Q q 0 0 0 rg BT 445.72 64.50 Td (governance ) Tj ET Q q 0 0 0 rg BT 496.18 64.50 Td (model ) Tj ET Q q 0 0 0 rg BT 524.13 64.50 Td (- ) Tj ET Q q 0 0 0 rg BT 530.56 64.50 Td (the ) Tj ET Q q 0 0 0 rg BT 546.50 64.50 Td (CGI ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 51.00 Td (Management ) Tj ET Q q 0 0 0 rg BT 128.37 51.00 Td (Foundation. ) Tj ET Q q 0 0 0 rg BT 179.96 51.00 Td (The ) Tj ET Q q 0 0 0 rg BT 199.80 51.00 Td (CGI ) Tj ET Q q 0 0 0 rg BT 220.13 51.00 Td (Management ) Tj ET Q q 0 0 0 rg BT 277.00 51.00 Td (Foundation ) Tj ET Q q 0 0 0 rg BT 326.37 51.00 Td (provides ) Tj ET Q q 0 0 0 rg BT 364.73 51.00 Td (a ) Tj ET Q q 0 0 0 rg BT 374.07 51.00 Td (common ) Tj ET Q q 0 0 0 rg BT 412.91 51.00 Td (business ) Tj ET Q q 0 0 0 rg BT 452.77 51.00 Td (language, ) Tj ET Q q 0 0 0 rg BT 496.64 51.00 Td (frameworks ) Tj ET Q q 0 0 0 rg BT 547.48 51.00 Td (and ) Tj ET Q endstream endobj 17 0 obj <> endobj 18 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 554.85 22.10 Td (7) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 708.95 Td (practices ) Tj ET Q q 0 0 0 rg BT 110.79 708.95 Td (for ) Tj ET Q q 0 0 0 rg BT 124.57 708.95 Td (managing ) Tj ET Q q 0 0 0 rg BT 167.38 708.95 Td (all ) Tj ET Q q 0 0 0 rg BT 179.66 708.95 Td (operations ) Tj ET Q q 0 0 0 rg BT 224.96 708.95 Td (consistently ) Tj ET Q q 0 0 0 rg BT 275.26 708.95 Td (across ) Tj ET Q q 0 0 0 rg BT 305.05 708.95 Td (the ) Tj ET Q q 0 0 0 rg BT 320.83 708.95 Td (globe, ) Tj ET Q q 0 0 0 rg BT 348.63 708.95 Td (driving ) Tj ET Q q 0 0 0 rg BT 378.42 708.95 Td (a ) Tj ET Q q 0 0 0 rg BT 386.70 708.95 Td (focus ) Tj ET Q q 0 0 0 rg BT 411.49 708.95 Td (on ) Tj ET Q q 0 0 0 rg BT 424.78 708.95 Td (continuous ) Tj ET Q q 0 0 0 rg BT 471.59 708.95 Td (improvement. ) Tj ET Q q 0 0 0 rg BT 529.38 708.95 Td (W) Tj ET Q q 0 0 0 rg BT 537.72 708.95 Td (e ) Tj ET Q q 0 0 0 rg BT 546.00 708.95 Td (also ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 695.45 Td (invest ) Tj ET Q q 0 0 0 rg BT 97.94 695.45 Td (in ) Tj ET Q q 0 0 0 rg BT 107.87 695.45 Td (rigorous ) Tj ET Q q 0 0 0 rg BT 143.31 695.45 Td (quality ) Tj ET Q q 0 0 0 rg BT 172.26 695.45 Td (and ) Tj ET Q q 0 0 0 rg BT 190.20 695.45 Td (service ) Tj ET Q q 0 0 0 rg BT 221.64 695.45 Td (delivery ) Tj ET Q q 0 0 0 rg BT 255.58 695.45 Td (standards ) Tj ET Q q 0 0 0 rg BT 298.03 695.45 Td (\(including ) Tj ET Q q 0 0 0 rg BT 339.48 695.45 Td (ISO ) Tj ET Q q 0 0 0 rg BT 357.91 695.45 Td (and ) Tj ET Q q 0 0 0 rg BT 375.85 695.45 Td (Capability ) Tj ET Q q 0 0 0 rg BT 418.30 695.45 Td (Maturity ) Tj ET Q q 0 0 0 rg BT 453.23 695.45 Td (Model ) Tj ET Q q 0 0 0 rg BT 480.68 695.45 Td (Integration ) Tj ET Q q 0 0 0 rg BT 526.13 695.45 Td (\("CMMI"\) ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 681.95 Td (certification ) Tj ET Q q 0 0 0 rg BT 118.90 681.95 Td (programs\), ) Tj ET Q q 0 0 0 rg BT 164.28 681.95 Td (as ) Tj ET Q q 0 0 0 rg BT 175.67 681.95 Td (well ) Tj ET Q q 0 0 0 rg BT 193.05 681.95 Td (as ) Tj ET Q q 0 0 0 rg BT 204.43 681.95 Td (a ) Tj ET Q q 0 0 0 rg BT 211.32 681.95 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 274.23 681.95 Td (Client ) Tj ET Q q 0 0 0 rg BT 299.11 681.95 Td (Satisfaction ) Tj ET Q q 0 0 0 rg BT 347.14 681.95 Td (Assessment ) Tj ET Q q 0 0 0 rg BT 398.04 681.95 Td (Program, ) Tj ET Q q 0 0 0 rg BT 436.93 681.95 Td (to ) Tj ET Q q 0 0 0 rg BT 446.31 681.95 Td (ensure ) Tj ET Q q 0 0 0 rg BT 475.71 681.95 Td (high ) Tj ET Q q 0 0 0 rg BT 494.60 681.95 Td (client ) Tj ET Q q 0 0 0 rg BT 517.49 681.95 Td (satisfaction ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 668.45 Td (on ) Tj ET Q q 0 0 0 rg BT 84.01 668.45 Td (an ) Tj ET Q q 0 0 0 rg BT 96.52 668.45 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 131.05 668.45 Td (basis.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 645.65 Td (1.2. ) Tj ET Q q 0 0 0 rg BT 91.01 645.65 Td (VISION ) Tj ET Q q 0 0 0 rg BT 123.69 645.65 Td (AND ) Tj ET Q q 0 0 0 rg BT 145.68 645.65 Td (STRA) Tj ET Q q 0 0 0 rg BT 169.52 645.65 Td (TEGY) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 626.15 Td (CGI ) Tj ET Q q 0 0 0 rg BT 89.63 626.15 Td (is ) Tj ET Q q 0 0 0 rg BT 98.25 626.15 Td (unique ) Tj ET Q q 0 0 0 rg BT 127.40 626.15 Td (compared ) Tj ET Q q 0 0 0 rg BT 169.55 626.15 Td (to ) Tj ET Q q 0 0 0 rg BT 179.18 626.15 Td (most ) Tj ET Q q 0 0 0 rg BT 200.81 626.15 Td (companies. ) Tj ET Q q 0 0 0 rg BT 248.96 626.15 Td (W) Tj ET Q q 0 0 0 rg BT 257.29 626.15 Td (e ) Tj ET Q q 0 0 0 rg BT 264.42 626.15 Td (not ) Tj ET Q q 0 0 0 rg BT 279.06 626.15 Td (only ) Tj ET Q q 0 0 0 rg BT 297.69 626.15 Td (have ) Tj ET Q q 0 0 0 rg BT 319.34 626.15 Td (a ) Tj ET Q q 0 0 0 rg BT 326.47 626.15 Td (vision, ) Tj ET Q q 0 0 0 rg BT 354.10 626.15 Td (but ) Tj ET Q q 0 0 0 rg BT 368.74 626.15 Td (also ) Tj ET Q q 0 0 0 rg BT 387.37 626.15 Td (a ) Tj ET Q q 0 0 0 rg BT 394.51 626.15 Td (dream: ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 424.64 626.15 Td (T) Tj ET Q q 0 0 0 rg BT 432.31 626.15 Td (o ) Tj ET Q q 0 0 0 rg BT 439.44 626.15 Td (create ) Tj ET Q q 0 0 0 rg BT 466.58 626.15 Td (an ) Tj ET Q q 0 0 0 rg BT 478.72 626.15 Td (environment ) Tj ET Q q 0 0 0 rg BT 530.37 626.15 Td (in ) Tj ET Q q 0 0 0 rg BT 539.50 626.15 Td (which ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 71.50 612.65 Td (we ) Tj ET Q q 0 0 0 rg BT 85.39 612.65 Td (enjoy ) Tj ET Q q 0 0 0 rg BT 109.29 612.65 Td (working ) Tj ET Q q 0 0 0 rg BT 142.69 612.65 Td (together ) Tj ET Q q 0 0 0 rg BT 178.10 612.65 Td (and, ) Tj ET Q q 0 0 0 rg BT 198.01 612.65 Td (as ) Tj ET Q q 0 0 0 rg BT 209.90 612.65 Td (owners, ) Tj ET Q q 0 0 0 rg BT 243.80 612.65 Td (contribute ) Tj ET Q q 0 0 0 rg BT 285.71 612.65 Td (to ) Tj ET Q q 0 0 0 rg BT 295.60 612.65 Td (building ) Tj ET Q q 0 0 0 rg BT 329.02 612.65 Td (a ) Tj ET Q q 0 0 0 rg BT 336.41 612.65 Td (company ) Tj ET Q q 0 0 0 rg BT 375.31 612.65 Td (we ) Tj ET Q q 0 0 0 rg BT 389.20 612.65 Td (can ) Tj ET Q q 0 0 0 rg BT 406.10 612.65 Td (be ) Tj ET Q q 0 0 0 rg BT 418.50 612.65 Td (proud ) Tj ET Q q 0 0 0 rg BT 443.90 612.65 Td (of. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 459.29 612.65 Td (This ) Tj ET Q q 0 0 0 rg BT 478.68 612.65 Td (dream ) Tj ET Q q 0 0 0 rg BT 506.58 612.65 Td (has ) Tj ET Q q 0 0 0 rg BT 523.48 612.65 Td (motivated ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 599.15 Td (us ) Tj ET Q q 0 0 0 rg BT 83.06 599.15 Td (since ) Tj ET Q q 0 0 0 rg BT 106.13 599.15 Td (our ) Tj ET Q q 0 0 0 rg BT 121.19 599.15 Td (founding ) Tj ET Q q 0 0 0 rg BT 157.78 599.15 Td (in ) Tj ET Q q 0 0 0 rg BT 166.84 599.15 Td (1976 ) Tj ET Q q 0 0 0 rg BT 188.92 599.15 Td (and ) Tj ET Q q 0 0 0 rg BT 205.99 599.15 Td (drives ) Tj ET Q q 0 0 0 rg BT 232.05 599.15 Td (our ) Tj ET Q q 0 0 0 rg BT 247.12 599.15 Td (vision: ) Tj ET Q q 0 0 0 rg BT 274.69 599.15 Td () Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 277.68 599.15 Td (T) Tj ET Q q 0 0 0 rg BT 282.35 599.15 Td (o ) Tj ET Q q 0 0 0 rg BT 289.42 599.15 Td (be ) Tj ET Q q 0 0 0 rg BT 301.48 599.15 Td (a ) Tj ET Q q 0 0 0 rg BT 308.54 599.15 Td (global, ) Tj ET Q q 0 0 0 rg BT 337.12 599.15 Td (world-class ) Tj ET Q q 0 0 0 rg BT 384.19 599.15 Td (information ) Tj ET Q q 0 0 0 rg BT 430.76 599.15 Td (technology ) Tj ET Q q 0 0 0 rg BT 476.35 599.15 Td (and ) Tj ET Q q 0 0 0 rg BT 493.42 599.15 Td (business ) Tj ET Q q 0 0 0 rg BT 531.00 599.15 Td (process ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 71.50 585.65 Td (services ) Tj ET Q q 0 0 0 rg BT 107.01 585.65 Td (leader ) Tj ET Q q 0 0 0 rg BT 134.53 585.65 Td (helping ) Tj ET Q q 0 0 0 rg BT 166.05 585.65 Td (our ) Tj ET Q q 0 0 0 rg BT 181.56 585.65 Td (clients ) Tj ET Q q 0 0 0 rg BT 209.57 585.65 Td (succeed.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 245.59 585.65 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 566.15 Td (In ) Tj ET Q q 0 0 0 rg BT 80.82 566.15 Td (pursuing ) Tj ET Q q 0 0 0 rg BT 117.15 566.15 Td (this ) Tj ET Q q 0 0 0 rg BT 132.97 566.15 Td (dream ) Tj ET Q q 0 0 0 rg BT 160.29 566.15 Td (and ) Tj ET Q q 0 0 0 rg BT 177.11 566.15 Td (vision, ) Tj ET Q q 0 0 0 rg BT 204.43 566.15 Td (CGI ) Tj ET Q q 0 0 0 rg BT 222.25 566.15 Td (has ) Tj ET Q q 0 0 0 rg BT 238.57 566.15 Td (been ) Tj ET Q q 0 0 0 rg BT 260.40 566.15 Td (highly ) Tj ET Q q 0 0 0 rg BT 285.72 566.15 Td (disciplined ) Tj ET Q q 0 0 0 rg BT 329.56 566.15 Td (throughout ) Tj ET Q q 0 0 0 rg BT 374.41 566.15 Td (its ) Tj ET Q q 0 0 0 rg BT 385.22 566.15 Td (history ) Tj ET Q q 0 0 0 rg BT 413.54 566.15 Td (in ) Tj ET Q q 0 0 0 rg BT 422.35 566.15 Td (executing ) Tj ET Q q 0 0 0 rg BT 462.69 566.15 Td (a ) Tj ET Q q 0 0 0 rg BT 469.50 566.15 Td (Build ) Tj ET Q q 0 0 0 rg BT 491.33 566.15 Td (and ) Tj ET Q q 0 0 0 rg BT 508.15 566.15 Td (Buy ) Tj ET Q q 0 0 0 rg BT 525.47 566.15 Td (profitable ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 552.65 Td (growth ) Tj ET Q q 0 0 0 rg BT 101.01 552.65 Td (strategy ) Tj ET Q q 0 0 0 rg BT 135.53 552.65 Td (comprised ) Tj ET Q q 0 0 0 rg BT 179.54 552.65 Td (of ) Tj ET Q q 0 0 0 rg BT 189.55 552.65 Td (four ) Tj ET Q q 0 0 0 rg BT 207.56 552.65 Td (pillars ) Tj ET Q q 0 0 0 rg BT 233.57 552.65 Td (that ) Tj ET Q q 0 0 0 rg BT 251.08 552.65 Td (combine ) Tj ET Q q 0 0 0 rg BT 287.60 552.65 Td (profitable ) Tj ET Q q 0 0 0 rg BT 327.12 552.65 Td (organic ) Tj ET Q q 0 0 0 rg BT 359.14 552.65 Td (growth ) Tj ET Q q 0 0 0 rg BT 388.65 552.65 Td (\(Build\) ) Tj ET Q q 0 0 0 rg BT 417.16 552.65 Td (and ) Tj ET Q q 0 0 0 rg BT 434.68 552.65 Td (accretive ) Tj ET Q q 0 0 0 rg BT 473.19 552.65 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 522.72 552.65 Td (\(Buy\):) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 85.50 533.15 Td (Pillar ) Tj ET Q q 0 0 0 rg BT 110.01 533.15 Td (1:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 118.02 533.15 Td ( ) Tj ET Q q 0 0 0 rg BT 120.52 533.15 Td (Smaller ) Tj ET Q q 0 0 0 rg BT 153.52 533.15 Td (contract ) Tj ET Q q 0 0 0 rg BT 188.04 533.15 Td (wins, ) Tj ET Q q 0 0 0 rg BT 211.04 533.15 Td (renewals ) Tj ET Q q 0 0 0 rg BT 249.56 533.15 Td (and ) Tj ET Q q 0 0 0 rg BT 267.08 533.15 Td (extensions) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 85.50 513.65 Td (Pillar ) Tj ET Q q 0 0 0 rg BT 110.01 513.65 Td (2:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 118.02 513.65 Td ( ) Tj ET Q q 0 0 0 rg BT 120.52 513.65 Td (Large, ) Tj ET Q q 0 0 0 rg BT 148.54 513.65 Td (long-term ) Tj ET Q q 0 0 0 rg BT 189.05 513.65 Td (transformational ) Tj ET Q q 0 0 0 rg BT 256.08 513.65 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 305.11 513.65 Td (contracts) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 85.50 494.15 Td (Pillar ) Tj ET Q q 0 0 0 rg BT 110.01 494.15 Td (3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 115.02 494.15 Td (: ) Tj ET Q q 0 0 0 rg BT 120.02 494.15 Td (Small ) Tj ET Q q 0 0 0 rg BT 145.02 494.15 Td (firm ) Tj ET Q q 0 0 0 rg BT 162.52 494.15 Td (or ) Tj ET Q q 0 0 0 rg BT 173.02 494.15 Td (niche ) Tj ET Q q 0 0 0 rg BT 197.04 494.15 Td (player ) Tj ET Q q 0 0 0 rg BT 224.05 494.15 Td (acquisitions) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 85.50 474.65 Td (Pillar ) Tj ET Q q 0 0 0 rg BT 110.01 474.65 Td (4:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 118.02 474.65 Td ( ) Tj ET Q q 0 0 0 rg BT 120.52 474.65 Td (Large, ) Tj ET Q q 0 0 0 rg BT 148.54 474.65 Td (transformational ) Tj ET Q q 0 0 0 rg BT 215.56 474.65 Td (acquisitions) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 455.15 Td (The ) Tj ET Q q 0 0 0 rg BT 89.16 455.15 Td (first ) Tj ET Q q 0 0 0 rg BT 105.80 455.15 Td (two ) Tj ET Q q 0 0 0 rg BT 121.96 455.15 Td (pillars ) Tj ET Q q 0 0 0 rg BT 147.61 455.15 Td (relate ) Tj ET Q q 0 0 0 rg BT 172.28 455.15 Td (to ) Tj ET Q q 0 0 0 rg BT 181.93 455.15 Td (driving ) Tj ET Q q 0 0 0 rg BT 210.59 455.15 Td (profitable ) Tj ET Q q 0 0 0 rg BT 249.76 455.15 Td (organic ) Tj ET Q q 0 0 0 rg BT 281.43 455.15 Td (growth ) Tj ET Q q 0 0 0 rg BT 310.59 455.15 Td (through ) Tj ET Q q 0 0 0 rg BT 343.27 455.15 Td (the ) Tj ET Q q 0 0 0 rg BT 357.93 455.15 Td (pursuit ) Tj ET Q q 0 0 0 rg BT 387.09 455.15 Td (of ) Tj ET Q q 0 0 0 rg BT 396.74 455.15 Td (contracts ) Tj ET Q q 0 0 0 rg BT 435.41 455.15 Td (- ) Tj ET Q q 0 0 0 rg BT 440.55 455.15 Td (both ) Tj ET Q q 0 0 0 rg BT 460.22 455.15 Td (large ) Tj ET Q q 0 0 0 rg BT 482.38 455.15 Td (and ) Tj ET Q q 0 0 0 rg BT 499.54 455.15 Td (small ) Tj ET Q q 0 0 0 rg BT 522.70 455.15 Td (- ) Tj ET Q q 0 0 0 rg BT 527.84 455.15 Td (with ) Tj ET Q q 0 0 0 rg BT 546.00 455.15 Td (new ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 441.65 Td (and ) Tj ET Q q 0 0 0 rg BT 89.02 441.65 Td (existing ) Tj ET Q q 0 0 0 rg BT 122.03 441.65 Td (clients ) Tj ET Q q 0 0 0 rg BT 150.04 441.65 Td (in ) Tj ET Q q 0 0 0 rg BT 159.55 441.65 Td (our ) Tj ET Q q 0 0 0 rg BT 175.06 441.65 Td (targeted ) Tj ET Q q 0 0 0 rg BT 210.58 441.65 Td (industries. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 422.15 Td (The ) Tj ET Q q 0 0 0 rg BT 89.73 422.15 Td (last ) Tj ET Q q 0 0 0 rg BT 106.45 422.15 Td (two ) Tj ET Q q 0 0 0 rg BT 123.17 422.15 Td (pillars ) Tj ET Q q 0 0 0 rg BT 149.40 422.15 Td (focus ) Tj ET Q q 0 0 0 rg BT 173.63 422.15 Td (on ) Tj ET Q q 0 0 0 rg BT 186.35 422.15 Td (growth ) Tj ET Q q 0 0 0 rg BT 216.08 422.15 Td (through ) Tj ET Q q 0 0 0 rg BT 249.33 422.15 Td (niche ) Tj ET Q q 0 0 0 rg BT 273.56 422.15 Td (and ) Tj ET Q q 0 0 0 rg BT 291.29 422.15 Td (large ) Tj ET Q q 0 0 0 rg BT 314.02 422.15 Td (acquisitions. ) Tj ET Q q 0 0 0 rg BT 366.27 422.15 Td (W) Tj ET Q q 0 0 0 rg BT 374.60 422.15 Td (e ) Tj ET Q q 0 0 0 rg BT 382.32 422.15 Td (identify ) Tj ET Q q 0 0 0 rg BT 413.56 422.15 Td (niche ) Tj ET Q q 0 0 0 rg BT 437.79 422.15 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 487.54 422.15 Td (through ) Tj ET Q q 0 0 0 rg BT 520.78 422.15 Td (a ) Tj ET Q q 0 0 0 rg BT 528.50 422.15 Td (strategic ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 408.65 Td (qualification ) Tj ET Q q 0 0 0 rg BT 121.52 408.65 Td (process ) Tj ET Q q 0 0 0 rg BT 155.52 408.65 Td (that ) Tj ET Q q 0 0 0 rg BT 173.02 408.65 Td (systematically ) Tj ET Q q 0 0 0 rg BT 231.52 408.65 Td (searches ) Tj ET Q q 0 0 0 rg BT 270.53 408.65 Td (for ) Tj ET Q q 0 0 0 rg BT 283.52 408.65 Td (targets ) Tj ET Q q 0 0 0 rg BT 313.52 408.65 Td (to ) Tj ET Q q 0 0 0 rg BT 323.52 408.65 Td (strengthen ) Tj ET Q q 0 0 0 rg BT 368.54 408.65 Td (our ) Tj ET Q q 0 0 0 rg BT 384.03 408.65 Td (local ) Tj ET Q q 0 0 0 rg BT 405.03 408.65 Td (proximity ) Tj ET Q q 0 0 0 rg BT 443.52 408.65 Td (in ) Tj ET Q q 0 0 0 rg BT 453.02 408.65 Td (metro ) Tj ET Q q 0 0 0 rg BT 478.51 408.65 Td (markets, ) Tj ET Q q 0 0 0 rg BT 515.50 408.65 Td (our ) Tj ET Q q 0 0 0 rg BT 531.00 408.65 Td (industry ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 395.15 Td (expertise ) Tj ET Q q 0 0 0 rg BT 109.42 395.15 Td (and ) Tj ET Q q 0 0 0 rg BT 125.84 395.15 Td (enhance ) Tj ET Q q 0 0 0 rg BT 161.78 395.15 Td (our ) Tj ET Q q 0 0 0 rg BT 176.19 395.15 Td (services ) Tj ET Q q 0 0 0 rg BT 210.60 395.15 Td (and ) Tj ET Q q 0 0 0 rg BT 227.02 395.15 Td (solutions. ) Tj ET Q q 0 0 0 rg BT 266.45 395.15 Td (W) Tj ET Q q 0 0 0 rg BT 274.78 395.15 Td (e ) Tj ET Q q 0 0 0 rg BT 281.19 395.15 Td (also ) Tj ET Q q 0 0 0 rg BT 299.11 395.15 Td (pursue ) Tj ET Q q 0 0 0 rg BT 328.03 395.15 Td (large ) Tj ET Q q 0 0 0 rg BT 349.45 395.15 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 397.88 395.15 Td (to ) Tj ET Q q 0 0 0 rg BT 406.79 395.15 Td (further ) Tj ET Q q 0 0 0 rg BT 434.20 395.15 Td (expand ) Tj ET Q q 0 0 0 rg BT 465.13 395.15 Td (our ) Tj ET Q q 0 0 0 rg BT 479.54 395.15 Td (geographic ) Tj ET Q q 0 0 0 rg BT 525.48 395.15 Td (presence ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 381.65 Td (and ) Tj ET Q q 0 0 0 rg BT 88.92 381.65 Td (critical ) Tj ET Q q 0 0 0 rg BT 116.83 381.65 Td (mass, ) Tj ET Q q 0 0 0 rg BT 143.23 381.65 Td (which ) Tj ET Q q 0 0 0 rg BT 168.65 381.65 Td (enables ) Tj ET Q q 0 0 0 rg BT 202.58 381.65 Td (us ) Tj ET Q q 0 0 0 rg BT 214.48 381.65 Td (to ) Tj ET Q q 0 0 0 rg BT 224.39 381.65 Td (compete ) Tj ET Q q 0 0 0 rg BT 261.32 381.65 Td (for ) Tj ET Q q 0 0 0 rg BT 274.22 381.65 Td (large ) Tj ET Q q 0 0 0 rg BT 296.64 381.65 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 345.57 381.65 Td (contracts ) Tj ET Q q 0 0 0 rg BT 384.49 381.65 Td (and ) Tj ET Q q 0 0 0 rg BT 401.91 381.65 Td (broaden ) Tj ET Q q 0 0 0 rg BT 437.34 381.65 Td (our ) Tj ET Q q 0 0 0 rg BT 452.76 381.65 Td (client ) Tj ET Q q 0 0 0 rg BT 476.17 381.65 Td (relationships. ) Tj ET Q q 0 0 0 rg BT 531.60 381.65 Td (CGI ) Tj ET Q q 0 0 0 rg BT 550.01 381.65 Td (will ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 368.15 Td (continue ) Tj ET Q q 0 0 0 rg BT 108.03 368.15 Td (to ) Tj ET Q q 0 0 0 rg BT 118.03 368.15 Td (be ) Tj ET Q q 0 0 0 rg BT 130.54 368.15 Td (a ) Tj ET Q q 0 0 0 rg BT 138.05 368.15 Td (consolidator ) Tj ET Q q 0 0 0 rg BT 189.08 368.15 Td (in ) Tj ET Q q 0 0 0 rg BT 198.59 368.15 Td (the ) Tj ET Q q 0 0 0 rg BT 213.60 368.15 Td (IT) Tj ET Q q 0 0 0 rg BT 221.43 368.15 Td ( ) Tj ET Q q 0 0 0 rg BT 223.93 368.15 Td (services ) Tj ET Q q 0 0 0 rg BT 259.44 368.15 Td (industry) Tj ET Q q 0 0 0 rg BT 290.29 368.15 Td (.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 348.65 Td (Since ) Tj ET Q q 0 0 0 rg BT 96.44 348.65 Td (1976, ) Tj ET Q q 0 0 0 rg BT 121.38 348.65 Td (our ) Tj ET Q q 0 0 0 rg BT 136.81 348.65 Td (professionals ) Tj ET Q q 0 0 0 rg BT 192.27 348.65 Td (have ) Tj ET Q q 0 0 0 rg BT 214.20 348.65 Td (been ) Tj ET Q q 0 0 0 rg BT 236.65 348.65 Td (working ) Tj ET Q q 0 0 0 rg BT 270.08 348.65 Td (toward ) Tj ET Q q 0 0 0 rg BT 299.52 348.65 Td (the ) Tj ET Q q 0 0 0 rg BT 314.46 348.65 Td (same ) Tj ET Q q 0 0 0 rg BT 338.89 348.65 Td (dream ) Tj ET Q q 0 0 0 rg BT 366.82 348.65 Td (and ) Tj ET Q q 0 0 0 rg BT 384.26 348.65 Td (vision. ) Tj ET Q q 0 0 0 rg BT 412.04 348.65 Td (T) Tj ET Q q 0 0 0 rg BT 416.54 348.65 Td (oday) Tj ET Q q 0 0 0 rg BT 435.38 348.65 Td (, ) Tj ET Q q 0 0 0 rg BT 440.31 348.65 Td (with ) Tj ET Q q 0 0 0 rg BT 458.74 348.65 Td (a ) Tj ET Q q 0 0 0 rg BT 466.17 348.65 Td (presence ) Tj ET Q q 0 0 0 rg BT 505.61 348.65 Td (in ) Tj ET Q q 0 0 0 rg BT 515.04 348.65 Td (hundreds ) Tj ET Q q 0 0 0 rg BT 554.99 348.65 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 335.15 Td (global ) Tj ET Q q 0 0 0 rg BT 98.02 335.15 Td (locations ) Tj ET Q q 0 0 0 rg BT 136.04 335.15 Td (and ) Tj ET Q q 0 0 0 rg BT 153.56 335.15 Td (more ) Tj ET Q q 0 0 0 rg BT 176.56 335.15 Td (than ) Tj ET Q q 0 0 0 rg BT 196.58 335.15 Td ($10 ) Tj ET Q q 0 0 0 rg BT 214.10 335.15 Td (billion ) Tj ET Q q 0 0 0 rg BT 239.61 335.15 Td (in ) Tj ET Q q 0 0 0 rg BT 249.12 335.15 Td (revenue, ) Tj ET Q q 0 0 0 rg BT 286.64 335.15 Td (our ) Tj ET Q q 0 0 0 rg BT 302.15 335.15 Td (aspiration ) Tj ET Q q 0 0 0 rg BT 343.68 335.15 Td (is ) Tj ET Q q 0 0 0 rg BT 352.68 335.15 Td (to ) Tj ET Q q 0 0 0 rg BT 362.68 335.15 Td (double ) Tj ET Q q 0 0 0 rg BT 392.21 335.15 Td (our ) Tj ET Q q 0 0 0 rg BT 407.72 335.15 Td (size ) Tj ET Q q 0 0 0 rg BT 426.22 335.15 Td (over ) Tj ET Q q 0 0 0 rg BT 446.23 335.15 Td (a ) Tj ET Q q 0 0 0 rg BT 453.74 335.15 Td (5 ) Tj ET Q q 0 0 0 rg BT 461.24 335.15 Td (to ) Tj ET Q q 0 0 0 rg BT 471.25 335.15 Td (7 ) Tj ET Q q 0 0 0 rg BT 478.75 335.15 Td (year ) Tj ET Q q 0 0 0 rg BT 498.76 335.15 Td (period.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 71.50 315.65 Td (Executing ) Tj ET Q q 0 0 0 rg BT 117.01 315.65 Td (our ) Tj ET Q q 0 0 0 rg BT 134.01 315.65 Td (strategy) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 299.15 Td (CGI) Tj ET Q q 0 0 0 rg BT 89.34 299.15 Td (s ) Tj ET Q q 0 0 0 rg BT 96.27 299.15 Td (strategy ) Tj ET Q q 0 0 0 rg BT 130.73 299.15 Td (is ) Tj ET Q q 0 0 0 rg BT 139.66 299.15 Td (executed ) Tj ET Q q 0 0 0 rg BT 178.63 299.15 Td (through ) Tj ET Q q 0 0 0 rg BT 211.59 299.15 Td (a ) Tj ET Q q 0 0 0 rg BT 219.03 299.15 Td (unique ) Tj ET Q q 0 0 0 rg BT 248.49 299.15 Td (business ) Tj ET Q q 0 0 0 rg BT 286.45 299.15 Td (model ) Tj ET Q q 0 0 0 rg BT 313.40 299.15 Td (that ) Tj ET Q q 0 0 0 rg BT 330.85 299.15 Td (combines ) Tj ET Q q 0 0 0 rg BT 371.81 299.15 Td (client ) Tj ET Q q 0 0 0 rg BT 395.25 299.15 Td (proximity ) Tj ET Q q 0 0 0 rg BT 433.69 299.15 Td (with ) Tj ET Q q 0 0 0 rg BT 452.14 299.15 Td (an ) Tj ET Q q 0 0 0 rg BT 464.58 299.15 Td (extensive ) Tj ET Q q 0 0 0 rg BT 505.04 299.15 Td (global ) Tj ET Q q 0 0 0 rg BT 531.50 299.15 Td (delivery ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 285.65 Td (network ) Tj ET Q q 0 0 0 rg BT 105.51 285.65 Td (to ) Tj ET Q q 0 0 0 rg BT 115.52 285.65 Td (deliver ) Tj ET Q q 0 0 0 rg BT 144.53 285.65 Td (the ) Tj ET Q q 0 0 0 rg BT 159.54 285.65 Td (following ) Tj ET Q q 0 0 0 rg BT 197.06 285.65 Td (benefits:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 85.50 266.15 Td ( ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 103.50 266.15 Td (Local ) Tj ET Q q 0 0 0 rg BT 132.38 266.15 Td (responsiveness ) Tj ET Q q 0 0 0 rg BT 205.79 266.15 Td (and ) Tj ET Q q 0 0 0 rg BT 227.17 266.15 Td (accountability) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 287.68 266.15 Td (:) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 290.18 266.15 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 295.55 266.15 Td (W) Tj ET Q q 0 0 0 rg BT 303.89 266.15 Td (e ) Tj ET Q q 0 0 0 rg BT 314.27 266.15 Td (live ) Tj ET Q q 0 0 0 rg BT 333.15 266.15 Td (and ) Tj ET Q q 0 0 0 rg BT 353.54 266.15 Td (work ) Tj ET Q q 0 0 0 rg BT 377.91 266.15 Td (near ) Tj ET Q q 0 0 0 rg BT 401.30 266.15 Td (our ) Tj ET Q q 0 0 0 rg BT 419.68 266.15 Td (clients ) Tj ET Q q 0 0 0 rg BT 450.57 266.15 Td (to ) Tj ET Q q 0 0 0 rg BT 463.45 266.15 Td (provide ) Tj ET Q q 0 0 0 rg BT 498.34 266.15 Td (a ) Tj ET Q q 0 0 0 rg BT 508.72 266.15 Td (high ) Tj ET Q q 0 0 0 rg BT 531.11 266.15 Td (level ) Tj ET Q q 0 0 0 rg BT 554.99 266.15 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 252.65 Td (responsiveness. ) Tj ET Q q 0 0 0 rg BT 172.46 252.65 Td (Our ) Tj ET Q q 0 0 0 rg BT 191.39 252.65 Td (local ) Tj ET Q q 0 0 0 rg BT 213.83 252.65 Td (CGI ) Tj ET Q q 0 0 0 rg BT 233.75 252.65 Td (teams ) Tj ET Q q 0 0 0 rg BT 262.19 252.65 Td (speak ) Tj ET Q q 0 0 0 rg BT 290.13 252.65 Td (our ) Tj ET Q q 0 0 0 rg BT 307.07 252.65 Td (clients' ) Tj ET Q q 0 0 0 rg BT 338.22 252.65 Td (language, ) Tj ET Q q 0 0 0 rg BT 381.69 252.65 Td (understand ) Tj ET Q q 0 0 0 rg BT 430.65 252.65 Td (their ) Tj ET Q q 0 0 0 rg BT 452.08 252.65 Td (business ) Tj ET Q q 0 0 0 rg BT 491.53 252.65 Td (environment, ) Tj ET Q q 0 0 0 rg BT 547.48 252.65 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 239.15 Td (collaborate ) Tj ET Q q 0 0 0 rg BT 150.03 239.15 Td (to ) Tj ET Q q 0 0 0 rg BT 160.04 239.15 Td (meet ) Tj ET Q q 0 0 0 rg BT 182.54 239.15 Td (their ) Tj ET Q q 0 0 0 rg BT 202.55 239.15 Td (goals ) Tj ET Q q 0 0 0 rg BT 226.57 239.15 Td (and ) Tj ET Q q 0 0 0 rg BT 244.09 239.15 Td (advance ) Tj ET Q q 0 0 0 rg BT 280.61 239.15 Td (their ) Tj ET Q q 0 0 0 rg BT 300.62 239.15 Td (business.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 85.50 219.65 Td ( ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 103.50 219.65 Td (Global ) Tj ET Q q 0 0 0 rg BT 133.77 219.65 Td (reach) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 157.79 219.65 Td (: ) Tj ET Q q 0 0 0 rg BT 162.55 219.65 Td (Our ) Tj ET Q q 0 0 0 rg BT 179.82 219.65 Td (local ) Tj ET Q q 0 0 0 rg BT 200.60 219.65 Td (presence ) Tj ET Q q 0 0 0 rg BT 239.89 219.65 Td (is ) Tj ET Q q 0 0 0 rg BT 248.66 219.65 Td (complemented ) Tj ET Q q 0 0 0 rg BT 309.96 219.65 Td (by ) Tj ET Q q 0 0 0 rg BT 321.73 219.65 Td (an ) Tj ET Q q 0 0 0 rg BT 334.01 219.65 Td (expansive ) Tj ET Q q 0 0 0 rg BT 376.80 219.65 Td (global ) Tj ET Q q 0 0 0 rg BT 403.09 219.65 Td (delivery ) Tj ET Q q 0 0 0 rg BT 436.37 219.65 Td (network ) Tj ET Q q 0 0 0 rg BT 470.15 219.65 Td (that ) Tj ET Q q 0 0 0 rg BT 487.43 219.65 Td (ensures ) Tj ET Q q 0 0 0 rg BT 521.71 219.65 Td (our ) Tj ET Q q 0 0 0 rg BT 536.99 219.65 Td (clients ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 206.15 Td (have ) Tj ET Q q 0 0 0 rg BT 125.52 206.15 Td (24/7 ) Tj ET Q q 0 0 0 rg BT 145.53 206.15 Td (access ) Tj ET Q q 0 0 0 rg BT 176.04 206.15 Td (to ) Tj ET Q q 0 0 0 rg BT 186.05 206.15 Td (best-fit ) Tj ET Q q 0 0 0 rg BT 215.56 206.15 Td (digital ) Tj ET Q q 0 0 0 rg BT 241.58 206.15 Td (capabilities ) Tj ET Q q 0 0 0 rg BT 288.60 206.15 Td (and ) Tj ET Q q 0 0 0 rg BT 306.12 206.15 Td (resources ) Tj ET Q q 0 0 0 rg BT 348.13 206.15 Td (to ) Tj ET Q q 0 0 0 rg BT 358.14 206.15 Td (meet ) Tj ET Q q 0 0 0 rg BT 380.65 206.15 Td (their ) Tj ET Q q 0 0 0 rg BT 400.66 206.15 Td (end-to-end ) Tj ET Q q 0 0 0 rg BT 446.69 206.15 Td (needs.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 85.50 186.65 Td ( ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 103.50 186.65 Td (Committed ) Tj ET Q q 0 0 0 rg BT 153.17 186.65 Td (experts) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 185.18 186.65 Td (:) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 187.68 186.65 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 190.35 186.65 Td (One ) Tj ET Q q 0 0 0 rg BT 210.03 186.65 Td (of ) Tj ET Q q 0 0 0 rg BT 220.20 186.65 Td (our ) Tj ET Q q 0 0 0 rg BT 235.87 186.65 Td (key ) Tj ET Q q 0 0 0 rg BT 252.54 186.65 Td (strategic ) Tj ET Q q 0 0 0 rg BT 289.22 186.65 Td (goals ) Tj ET Q q 0 0 0 rg BT 313.40 186.65 Td (is ) Tj ET Q q 0 0 0 rg BT 322.57 186.65 Td (to ) Tj ET Q q 0 0 0 rg BT 332.74 186.65 Td (be ) Tj ET Q q 0 0 0 rg BT 345.42 186.65 Td (our ) Tj ET Q q 0 0 0 rg BT 361.09 186.65 Td (clients) Tj ET Q q 0 0 0 rg BT 388.26 186.65 Td ( ) Tj ET Q q 0 0 0 rg BT 390.93 186.65 Td (expert ) Tj ET Q q 0 0 0 rg BT 418.61 186.65 Td (of ) Tj ET Q q 0 0 0 rg BT 428.78 186.65 Td (choice. ) Tj ET Q q 0 0 0 rg BT 459.79 186.65 Td (T) Tj ET Q q 0 0 0 rg BT 464.29 186.65 Td (o ) Tj ET Q q 0 0 0 rg BT 471.96 186.65 Td (achieve ) Tj ET Q q 0 0 0 rg BT 505.65 186.65 Td (this, ) Tj ET Q q 0 0 0 rg BT 524.82 186.65 Td (we ) Tj ET Q q 0 0 0 rg BT 538.99 186.65 Td (invest ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 173.15 Td (in ) Tj ET Q q 0 0 0 rg BT 113.71 173.15 Td (recruiting ) Tj ET Q q 0 0 0 rg BT 153.93 173.15 Td (professionals ) Tj ET Q q 0 0 0 rg BT 210.16 173.15 Td (with ) Tj ET Q q 0 0 0 rg BT 229.36 173.15 Td (extensive ) Tj ET Q q 0 0 0 rg BT 270.59 173.15 Td (industry) Tj ET Q q 0 0 0 rg BT 301.43 173.15 Td (, ) Tj ET Q q 0 0 0 rg BT 307.14 173.15 Td (business ) Tj ET Q q 0 0 0 rg BT 345.86 173.15 Td (and ) Tj ET Q q 0 0 0 rg BT 364.08 173.15 Td (technology ) Tj ET Q q 0 0 0 rg BT 410.81 173.15 Td (expertise, ) Tj ET Q q 0 0 0 rg BT 453.04 173.15 Td (particularly ) Tj ET Q q 0 0 0 rg BT 499.75 173.15 Td (in ) Tj ET Q q 0 0 0 rg BT 509.96 173.15 Td (high-demand ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 159.65 Td (areas, ) Tj ET Q q 0 0 0 rg BT 131.51 159.65 Td (such ) Tj ET Q q 0 0 0 rg BT 153.52 159.65 Td (as ) Tj ET Q q 0 0 0 rg BT 166.02 159.65 Td (agile ) Tj ET Q q 0 0 0 rg BT 188.04 159.65 Td (services, ) Tj ET Q q 0 0 0 rg BT 226.54 159.65 Td (robotics ) Tj ET Q q 0 0 0 rg BT 261.05 159.65 Td (process ) Tj ET Q q 0 0 0 rg BT 295.56 159.65 Td (automation, ) Tj ET Q q 0 0 0 rg BT 345.59 159.65 Td (cloud, ) Tj ET Q q 0 0 0 rg BT 372.60 159.65 Td (mobile ) Tj ET Q q 0 0 0 rg BT 402.11 159.65 Td (computing, ) Tj ET Q q 0 0 0 rg BT 449.14 159.65 Td (cybersecurity) Tj ET Q q 0 0 0 rg BT 501.48 159.65 Td (, ) Tj ET Q q 0 0 0 rg BT 506.98 159.65 Td (data ) Tj ET Q q 0 0 0 rg BT 527.50 159.65 Td (analytics ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 146.15 Td (and ) Tj ET Q q 0 0 0 rg BT 120.48 146.15 Td (the ) Tj ET Q q 0 0 0 rg BT 134.96 146.15 Td (Internet ) Tj ET Q q 0 0 0 rg BT 167.44 146.15 Td (of ) Tj ET Q q 0 0 0 rg BT 176.78 146.15 Td (Things. ) Tj ET Q q 0 0 0 rg BT 208.26 146.15 Td (In ) Tj ET Q q 0 0 0 rg BT 217.73 146.15 Td (addition, ) Tj ET Q q 0 0 0 rg BT 253.72 146.15 Td (a ) Tj ET Q q 0 0 0 rg BT 260.69 146.15 Td (majority ) Tj ET Q q 0 0 0 rg BT 294.16 146.15 Td (of ) Tj ET Q q 0 0 0 rg BT 303.63 146.15 Td (CGI ) Tj ET Q q 0 0 0 rg BT 321.60 146.15 Td (professionals ) Tj ET Q q 0 0 0 rg BT 376.59 146.15 Td (are ) Tj ET Q q 0 0 0 rg BT 391.56 146.15 Td (also ) Tj ET Q q 0 0 0 rg BT 410.04 146.15 Td (shareholders, ) Tj ET Q q 0 0 0 rg BT 466.53 146.15 Td (providing ) Tj ET Q q 0 0 0 rg BT 505.02 146.15 Td (an ) Tj ET Q q 0 0 0 rg BT 516.99 146.15 Td (added ) Tj ET Q q 0 0 0 rg BT 543.99 146.15 Td (level ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 132.65 Td (of ) Tj ET Q q 0 0 0 rg BT 113.51 132.65 Td (commitment ) Tj ET Q q 0 0 0 rg BT 165.01 132.65 Td (to ) Tj ET Q q 0 0 0 rg BT 175.02 132.65 Td (the ) Tj ET Q q 0 0 0 rg BT 190.03 132.65 Td (success ) Tj ET Q q 0 0 0 rg BT 225.04 132.65 Td (of ) Tj ET Q q 0 0 0 rg BT 235.05 132.65 Td (our ) Tj ET Q q 0 0 0 rg BT 250.56 132.65 Td (clients.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 85.50 113.15 Td ( ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 103.50 113.15 Td (Comprehensive ) Tj ET Q q 0 0 0 rg BT 176.16 113.15 Td (quality ) Tj ET Q q 0 0 0 rg BT 210.30 113.15 Td (processes) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 254.83 113.15 Td (: ) Tj ET Q q 0 0 0 rg BT 262.46 113.15 Td (CGI) Tj ET Q q 0 0 0 rg BT 280.30 113.15 Td (s ) Tj ET Q q 0 0 0 rg BT 289.94 113.15 Td (investment ) Tj ET Q q 0 0 0 rg BT 338.59 113.15 Td (in ) Tj ET Q q 0 0 0 rg BT 350.73 113.15 Td (quality ) Tj ET Q q 0 0 0 rg BT 381.89 113.15 Td (frameworks ) Tj ET Q q 0 0 0 rg BT 433.53 113.15 Td (and ) Tj ET Q q 0 0 0 rg BT 453.68 113.15 Td (rigorous ) Tj ET Q q 0 0 0 rg BT 491.33 113.15 Td (client ) Tj ET Q q 0 0 0 rg BT 517.48 113.15 Td (satisfaction ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 99.65 Td (assessments ) Tj ET Q q 0 0 0 rg BT 158.52 99.65 Td (has ) Tj ET Q q 0 0 0 rg BT 175.53 99.65 Td (resulted ) Tj ET Q q 0 0 0 rg BT 210.05 99.65 Td (in ) Tj ET Q q 0 0 0 rg BT 219.56 99.65 Td (a ) Tj ET Q q 0 0 0 rg BT 227.06 99.65 Td (consistent ) Tj ET Q q 0 0 0 rg BT 270.08 99.65 Td (track ) Tj ET Q q 0 0 0 rg BT 292.09 99.65 Td (record ) Tj ET Q q 0 0 0 rg BT 320.10 99.65 Td (of ) Tj ET Q q 0 0 0 rg BT 330.10 99.65 Td (on) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 340.11 99.65 Td (-) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 343.11 99.65 Td (time ) Tj ET Q q 0 0 0 rg BT 362.61 99.65 Td (and ) Tj ET Q q 0 0 0 rg BT 380.13 99.65 Td (within) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.14 99.65 Td (-) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 406.14 99.65 Td (budget ) Tj ET Q q 0 0 0 rg BT 436.17 99.65 Td (project ) Tj ET Q q 0 0 0 rg BT 465.68 99.65 Td (delivery) Tj ET Q q 0 0 0 rg BT 496.02 99.65 Td (.) Tj ET Q endstream endobj 19 0 obj <> endobj 20 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 554.85 22.10 Td (8) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (1.3. COMPETITIVE ENVIRONMENT) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 692.45 Td (In ) Tj ET Q q 0 0 0 rg BT 81.06 692.45 Td (today) Tj ET Q q 0 0 0 rg BT 104.92 692.45 Td (s ) Tj ET Q q 0 0 0 rg BT 111.47 692.45 Td (digital ) Tj ET Q q 0 0 0 rg BT 137.05 692.45 Td (era, ) Tj ET Q q 0 0 0 rg BT 154.61 692.45 Td (there ) Tj ET Q q 0 0 0 rg BT 177.18 692.45 Td (is ) Tj ET Q q 0 0 0 rg BT 185.74 692.45 Td (a ) Tj ET Q q 0 0 0 rg BT 192.80 692.45 Td (competitive ) Tj ET Q q 0 0 0 rg BT 240.38 692.45 Td (urgency ) Tj ET Q q 0 0 0 rg BT 274.45 692.45 Td (for ) Tj ET Q q 0 0 0 rg BT 287.01 692.45 Td (organizations ) Tj ET Q q 0 0 0 rg BT 342.60 692.45 Td (across ) Tj ET Q q 0 0 0 rg BT 371.17 692.45 Td (industries ) Tj ET Q q 0 0 0 rg BT 411.74 692.45 Td (to ) Tj ET Q q 0 0 0 rg BT 421.31 692.45 Td (become ) Tj ET Q q 0 0 0 rg BT 455.38 692.45 Td (digital ) Tj ET Q q 0 0 0 rg BT 480.96 692.45 Td (in ) Tj ET Q q 0 0 0 rg BT 490.02 692.45 Td (a ) Tj ET Q q 0 0 0 rg BT 497.08 692.45 Td (sustainable ) Tj ET Q q 0 0 0 rg BT 544.67 692.45 Td (way) Tj ET Q q 0 0 0 rg BT 560.01 692.45 Td (. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 678.95 Td (The ) Tj ET Q q 0 0 0 rg BT 89.89 678.95 Td (pressure ) Tj ET Q q 0 0 0 rg BT 127.79 678.95 Td (is ) Tj ET Q q 0 0 0 rg BT 137.17 678.95 Td (on ) Tj ET Q q 0 0 0 rg BT 150.06 678.95 Td (to ) Tj ET Q q 0 0 0 rg BT 160.45 678.95 Td (modernize ) Tj ET Q q 0 0 0 rg BT 205.35 678.95 Td (legacy ) Tj ET Q q 0 0 0 rg BT 234.25 678.95 Td (assets ) Tj ET Q q 0 0 0 rg BT 263.14 678.95 Td (and ) Tj ET Q q 0 0 0 rg BT 281.04 678.95 Td (connect ) Tj ET Q q 0 0 0 rg BT 315.44 678.95 Td (them ) Tj ET Q q 0 0 0 rg BT 338.33 678.95 Td (to ) Tj ET Q q 0 0 0 rg BT 348.72 678.95 Td (digital ) Tj ET Q q 0 0 0 rg BT 375.11 678.95 Td (business ) Tj ET Q q 0 0 0 rg BT 413.51 678.95 Td (and ) Tj ET Q q 0 0 0 rg BT 431.41 678.95 Td (operating ) Tj ET Q q 0 0 0 rg BT 471.82 678.95 Td (models. ) Tj ET Q q 0 0 0 rg BT 506.22 678.95 Td (Central ) Tj ET Q q 0 0 0 rg BT 538.11 678.95 Td (to ) Tj ET Q q 0 0 0 rg BT 548.50 678.95 Td (this ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 665.45 Td (massive ) Tj ET Q q 0 0 0 rg BT 108.54 665.45 Td (transformation ) Tj ET Q q 0 0 0 rg BT 170.10 665.45 Td (is ) Tj ET Q q 0 0 0 rg BT 180.63 665.45 Td (the ) Tj ET Q q 0 0 0 rg BT 197.17 665.45 Td (evolving ) Tj ET Q q 0 0 0 rg BT 234.22 665.45 Td (role ) Tj ET Q q 0 0 0 rg BT 253.26 665.45 Td (of ) Tj ET Q q 0 0 0 rg BT 264.80 665.45 Td (technology) Tj ET Q q 0 0 0 rg BT 307.67 665.45 Td (. ) Tj ET Q q 0 0 0 rg BT 313.94 665.45 Td (T) Tj ET Q q 0 0 0 rg BT 319.10 665.45 Td (raditionally ) Tj ET Q q 0 0 0 rg BT 366.15 665.45 Td (viewed ) Tj ET Q q 0 0 0 rg BT 398.20 665.45 Td (as ) Tj ET Q q 0 0 0 rg BT 411.74 665.45 Td (an ) Tj ET Q q 0 0 0 rg BT 425.78 665.45 Td (enabler) Tj ET Q q 0 0 0 rg BT 455.31 665.45 Td (, ) Tj ET Q q 0 0 0 rg BT 461.84 665.45 Td (technology ) Tj ET Q q 0 0 0 rg BT 509.41 665.45 Td (is ) Tj ET Q q 0 0 0 rg BT 519.94 665.45 Td (now ) Tj ET Q q 0 0 0 rg BT 540.48 665.45 Td (being ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 651.95 Td (recognized ) Tj ET Q q 0 0 0 rg BT 118.18 651.95 Td (as ) Tj ET Q q 0 0 0 rg BT 130.34 651.95 Td (a ) Tj ET Q q 0 0 0 rg BT 138.00 651.95 Td (business ) Tj ET Q q 0 0 0 rg BT 176.17 651.95 Td (driver) Tj ET Q q 0 0 0 rg BT 198.18 651.95 Td (. ) Tj ET Q q 0 0 0 rg BT 203.16 651.95 Td (The ) Tj ET Q q 0 0 0 rg BT 221.32 651.95 Td (promise ) Tj ET Q q 0 0 0 rg BT 255.98 651.95 Td (of ) Tj ET Q q 0 0 0 rg BT 266.14 651.95 Td (digital ) Tj ET Q q 0 0 0 rg BT 292.30 651.95 Td (creates ) Tj ET Q q 0 0 0 rg BT 324.47 651.95 Td (an ) Tj ET Q q 0 0 0 rg BT 337.13 651.95 Td (enormous ) Tj ET Q q 0 0 0 rg BT 379.80 651.95 Td (opportunity ) Tj ET Q q 0 0 0 rg BT 426.98 651.95 Td (to ) Tj ET Q q 0 0 0 rg BT 437.14 651.95 Td (transform ) Tj ET Q q 0 0 0 rg BT 477.80 651.95 Td (organizations ) Tj ET Q q 0 0 0 rg BT 533.99 651.95 Td (end-to-) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 638.45 Td (end, ) Tj ET Q q 0 0 0 rg BT 91.28 638.45 Td (and ) Tj ET Q q 0 0 0 rg BT 108.55 638.45 Td (CGI ) Tj ET Q q 0 0 0 rg BT 126.81 638.45 Td (is ) Tj ET Q q 0 0 0 rg BT 135.57 638.45 Td (well-positioned ) Tj ET Q q 0 0 0 rg BT 197.36 638.45 Td (to ) Tj ET Q q 0 0 0 rg BT 207.12 638.45 Td (serve ) Tj ET Q q 0 0 0 rg BT 231.39 638.45 Td (as ) Tj ET Q q 0 0 0 rg BT 243.15 638.45 Td (a ) Tj ET Q q 0 0 0 rg BT 250.42 638.45 Td (digital ) Tj ET Q q 0 0 0 rg BT 276.19 638.45 Td (partner ) Tj ET Q q 0 0 0 rg BT 306.97 638.45 Td (and ) Tj ET Q q 0 0 0 rg BT 324.24 638.45 Td (expert ) Tj ET Q q 0 0 0 rg BT 351.52 638.45 Td (of ) Tj ET Q q 0 0 0 rg BT 361.28 638.45 Td (choice. ) Tj ET Q q 0 0 0 rg BT 392.05 638.45 Td (W) Tj ET Q q 0 0 0 rg BT 400.39 638.45 Td (ere ) Tj ET Q q 0 0 0 rg BT 417.65 638.45 Td (working ) Tj ET Q q 0 0 0 rg BT 450.92 638.45 Td (with ) Tj ET Q q 0 0 0 rg BT 469.19 638.45 Td (clients ) Tj ET Q q 0 0 0 rg BT 496.96 638.45 Td (across ) Tj ET Q q 0 0 0 rg BT 525.72 638.45 Td (the ) Tj ET Q q 0 0 0 rg BT 540.49 638.45 Td (globe ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 624.95 Td (to ) Tj ET Q q 0 0 0 rg BT 81.74 624.95 Td (implement ) Tj ET Q q 0 0 0 rg BT 125.99 624.95 Td (digital ) Tj ET Q q 0 0 0 rg BT 152.23 624.95 Td (strategies, ) Tj ET Q q 0 0 0 rg BT 196.49 624.95 Td (roadmaps ) Tj ET Q q 0 0 0 rg BT 239.24 624.95 Td (and ) Tj ET Q q 0 0 0 rg BT 256.99 624.95 Td (solutions ) Tj ET Q q 0 0 0 rg BT 295.24 624.95 Td (that ) Tj ET Q q 0 0 0 rg BT 312.98 624.95 Td (revolutionize ) Tj ET Q q 0 0 0 rg BT 366.25 624.95 Td (the ) Tj ET Q q 0 0 0 rg BT 381.49 624.95 Td (customer/citizen ) Tj ET Q q 0 0 0 rg BT 449.24 624.95 Td (experience, ) Tj ET Q q 0 0 0 rg BT 498.50 624.95 Td (drive ) Tj ET Q q 0 0 0 rg BT 520.74 624.95 Td (the ) Tj ET Q q 0 0 0 rg BT 535.99 624.95 Td (launch ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 611.45 Td (of ) Tj ET Q q 0 0 0 rg BT 81.51 611.45 Td (new ) Tj ET Q q 0 0 0 rg BT 100.52 611.45 Td (products ) Tj ET Q q 0 0 0 rg BT 137.54 611.45 Td (and ) Tj ET Q q 0 0 0 rg BT 155.05 611.45 Td (services, ) Tj ET Q q 0 0 0 rg BT 193.06 611.45 Td (and ) Tj ET Q q 0 0 0 rg BT 210.58 611.45 Td (deliver ) Tj ET Q q 0 0 0 rg BT 239.59 611.45 Td (ef) Tj ET Q q 0 0 0 rg BT 246.93 611.45 Td (ficiencies ) Tj ET Q q 0 0 0 rg BT 286.45 611.45 Td (and ) Tj ET Q q 0 0 0 rg BT 303.97 611.45 Td (cost ) Tj ET Q q 0 0 0 rg BT 322.97 611.45 Td (savings. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 591.95 Td (As ) Tj ET Q q 0 0 0 rg BT 83.63 591.95 Td (the ) Tj ET Q q 0 0 0 rg BT 97.78 591.95 Td (demand ) Tj ET Q q 0 0 0 rg BT 131.93 591.95 Td (for ) Tj ET Q q 0 0 0 rg BT 144.07 591.95 Td (digitalization ) Tj ET Q q 0 0 0 rg BT 195.23 591.95 Td (increases, ) Tj ET Q q 0 0 0 rg BT 237.88 591.95 Td (competition ) Tj ET Q q 0 0 0 rg BT 285.53 591.95 Td (within ) Tj ET Q q 0 0 0 rg BT 310.17 591.95 Td (the ) Tj ET Q q 0 0 0 rg BT 324.32 591.95 Td (global ) Tj ET Q q 0 0 0 rg BT 349.97 591.95 Td (IT) Tj ET Q q 0 0 0 rg BT 357.80 591.95 Td ( ) Tj ET Q q 0 0 0 rg BT 359.44 591.95 Td (industry ) Tj ET Q q 0 0 0 rg BT 392.58 591.95 Td (is ) Tj ET Q q 0 0 0 rg BT 400.71 591.95 Td (intensifying. ) Tj ET Q q 0 0 0 rg BT 449.87 591.95 Td (CGI) Tj ET Q q 0 0 0 rg BT 467.71 591.95 Td (s ) Tj ET Q q 0 0 0 rg BT 473.84 591.95 Td (competition ) Tj ET Q q 0 0 0 rg BT 521.49 591.95 Td (comprises ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 578.45 Td (a ) Tj ET Q q 0 0 0 rg BT 80.13 578.45 Td (variety ) Tj ET Q q 0 0 0 rg BT 110.26 578.45 Td (of ) Tj ET Q q 0 0 0 rg BT 121.38 578.45 Td (players; ) Tj ET Q q 0 0 0 rg BT 156.52 578.45 Td (from ) Tj ET Q q 0 0 0 rg BT 178.14 578.45 Td (niche ) Tj ET Q q 0 0 0 rg BT 203.27 578.45 Td (companies ) Tj ET Q q 0 0 0 rg BT 250.42 578.45 Td (providing ) Tj ET Q q 0 0 0 rg BT 290.56 578.45 Td (specialized ) Tj ET Q q 0 0 0 rg BT 338.71 578.45 Td (services ) Tj ET Q q 0 0 0 rg BT 375.34 578.45 Td (and ) Tj ET Q q 0 0 0 rg BT 393.98 578.45 Td (software, ) Tj ET Q q 0 0 0 rg BT 434.11 578.45 Td (to ) Tj ET Q q 0 0 0 rg BT 445.24 578.45 Td (global, ) Tj ET Q q 0 0 0 rg BT 475.38 578.45 Td (end-to-end ) Tj ET Q q 0 0 0 rg BT 522.53 578.45 Td (IT) Tj ET Q q 0 0 0 rg BT 530.37 578.45 Td ( ) Tj ET Q q 0 0 0 rg BT 533.99 578.45 Td (service ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 564.95 Td (providers, ) Tj ET Q q 0 0 0 rg BT 113.27 564.95 Td (to ) Tj ET Q q 0 0 0 rg BT 123.02 564.95 Td (large ) Tj ET Q q 0 0 0 rg BT 145.28 564.95 Td (consulting ) Tj ET Q q 0 0 0 rg BT 188.06 564.95 Td (firms. ) Tj ET Q q 0 0 0 rg BT 211.86 564.95 Td (All ) Tj ET Q q 0 0 0 rg BT 224.11 564.95 Td (of ) Tj ET Q q 0 0 0 rg BT 233.87 564.95 Td (these ) Tj ET Q q 0 0 0 rg BT 258.13 564.95 Td (players ) Tj ET Q q 0 0 0 rg BT 289.40 564.95 Td (are ) Tj ET Q q 0 0 0 rg BT 304.65 564.95 Td (competing ) Tj ET Q q 0 0 0 rg BT 348.43 564.95 Td (to ) Tj ET Q q 0 0 0 rg BT 358.18 564.95 Td (deliver ) Tj ET Q q 0 0 0 rg BT 386.95 564.95 Td (some ) Tj ET Q q 0 0 0 rg BT 411.20 564.95 Td (or ) Tj ET Q q 0 0 0 rg BT 421.46 564.95 Td (all ) Tj ET Q q 0 0 0 rg BT 432.71 564.95 Td (of ) Tj ET Q q 0 0 0 rg BT 442.47 564.95 Td (the ) Tj ET Q q 0 0 0 rg BT 457.23 564.95 Td (services ) Tj ET Q q 0 0 0 rg BT 492.48 564.95 Td (we ) Tj ET Q q 0 0 0 rg BT 506.24 564.95 Td (provide. ) Tj ET Q q 0 0 0 rg BT 540.51 564.95 Td (Many ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 551.45 Td (factors ) Tj ET Q q 0 0 0 rg BT 101.01 551.45 Td (distinguish ) Tj ET Q q 0 0 0 rg BT 146.04 551.45 Td (the ) Tj ET Q q 0 0 0 rg BT 161.05 551.45 Td (industry ) Tj ET Q q 0 0 0 rg BT 195.06 551.45 Td (leaders, ) Tj ET Q q 0 0 0 rg BT 229.58 551.45 Td (including ) Tj ET Q q 0 0 0 rg BT 267.61 551.45 Td (the ) Tj ET Q q 0 0 0 rg BT 282.62 551.45 Td (following:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 89.50 531.95 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 107.50 531.95 Td (Industry ) Tj ET Q q 0 0 0 rg BT 142.01 531.95 Td (and ) Tj ET Q q 0 0 0 rg BT 159.53 531.95 Td (technology ) Tj ET Q q 0 0 0 rg BT 205.56 531.95 Td (expertise;) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 89.50 512.45 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 107.50 512.45 Td (On-time, ) Tj ET Q q 0 0 0 rg BT 144.51 512.45 Td (within-budget ) Tj ET Q q 0 0 0 rg BT 200.54 512.45 Td (delivery; ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 89.50 492.95 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 107.50 492.95 Td (T) Tj ET Q q 0 0 0 rg BT 112.00 492.95 Td (otal ) Tj ET Q q 0 0 0 rg BT 129.01 492.95 Td (cost ) Tj ET Q q 0 0 0 rg BT 148.02 492.95 Td (of ) Tj ET Q q 0 0 0 rg BT 158.02 492.95 Td (services;) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 89.50 473.45 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 107.50 473.45 Td (Breadth ) Tj ET Q q 0 0 0 rg BT 141.52 473.45 Td (of ) Tj ET Q q 0 0 0 rg BT 151.53 473.45 Td (digital ) Tj ET Q q 0 0 0 rg BT 177.54 473.45 Td (IP) Tj ET Q q 0 0 0 rg BT 185.89 473.45 Td ( ) Tj ET Q q 0 0 0 rg BT 188.39 473.45 Td (solutions;) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 89.50 453.95 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 107.50 453.95 Td (Global ) Tj ET Q q 0 0 0 rg BT 136.02 453.95 Td (delivery ) Tj ET Q q 0 0 0 rg BT 169.53 453.95 Td (capabilities; ) Tj ET Q q 0 0 0 rg BT 219.06 453.95 Td (and) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 89.50 434.45 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 107.50 434.45 Td (Local ) Tj ET Q q 0 0 0 rg BT 131.52 434.45 Td (presence ) Tj ET Q q 0 0 0 rg BT 171.04 434.45 Td (and ) Tj ET Q q 0 0 0 rg BT 188.56 434.45 Td (strength ) Tj ET Q q 0 0 0 rg BT 223.58 434.45 Td (of ) Tj ET Q q 0 0 0 rg BT 233.58 434.45 Td (client ) Tj ET Q q 0 0 0 rg BT 257.09 434.45 Td (relationships.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 67.50 414.95 Td (CGI ) Tj ET Q q 0 0 0 rg BT 86.77 414.95 Td (compares ) Tj ET Q q 0 0 0 rg BT 129.56 414.95 Td (very ) Tj ET Q q 0 0 0 rg BT 149.84 414.95 Td (favourably ) Tj ET Q q 0 0 0 rg BT 194.64 414.95 Td (with ) Tj ET Q q 0 0 0 rg BT 213.91 414.95 Td (the ) Tj ET Q q 0 0 0 rg BT 229.70 414.95 Td (competition ) Tj ET Q q 0 0 0 rg BT 279.00 414.95 Td (with ) Tj ET Q q 0 0 0 rg BT 298.27 414.95 Td (respect ) Tj ET Q q 0 0 0 rg BT 331.06 414.95 Td (to ) Tj ET Q q 0 0 0 rg BT 341.84 414.95 Td (all ) Tj ET Q q 0 0 0 rg BT 354.12 414.95 Td (of ) Tj ET Q q 0 0 0 rg BT 364.90 414.95 Td (these ) Tj ET Q q 0 0 0 rg BT 390.19 414.95 Td (factors. ) Tj ET Q q 0 0 0 rg BT 422.97 414.95 Td (W) Tj ET Q q 0 0 0 rg BT 431.30 414.95 Td (ere ) Tj ET Q q 0 0 0 rg BT 449.58 414.95 Td (not ) Tj ET Q q 0 0 0 rg BT 465.37 414.95 Td (only ) Tj ET Q q 0 0 0 rg BT 485.15 414.95 Td (delivering ) Tj ET Q q 0 0 0 rg BT 526.95 414.95 Td (all ) Tj ET Q q 0 0 0 rg BT 539.23 414.95 Td (of ) Tj ET Q q 0 0 0 rg BT 550.01 414.95 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 67.50 401.45 Td (capabilities ) Tj ET Q q 0 0 0 rg BT 113.99 401.45 Td (clients ) Tj ET Q q 0 0 0 rg BT 141.47 401.45 Td (need ) Tj ET Q q 0 0 0 rg BT 163.46 401.45 Td (to ) Tj ET Q q 0 0 0 rg BT 172.94 401.45 Td (compete ) Tj ET Q q 0 0 0 rg BT 209.43 401.45 Td (in ) Tj ET Q q 0 0 0 rg BT 218.40 401.45 Td (a ) Tj ET Q q 0 0 0 rg BT 225.38 401.45 Td (digital ) Tj ET Q q 0 0 0 rg BT 250.86 401.45 Td (world, ) Tj ET Q q 0 0 0 rg BT 276.84 401.45 Td (but ) Tj ET Q q 0 0 0 rg BT 291.32 401.45 Td (the ) Tj ET Q q 0 0 0 rg BT 305.80 401.45 Td (immediate ) Tj ET Q q 0 0 0 rg BT 349.28 401.45 Td (results ) Tj ET Q q 0 0 0 rg BT 377.76 401.45 Td (and ) Tj ET Q q 0 0 0 rg BT 394.75 401.45 Td (long-term ) Tj ET Q q 0 0 0 rg BT 434.73 401.45 Td (value ) Tj ET Q q 0 0 0 rg BT 458.21 401.45 Td (they ) Tj ET Q q 0 0 0 rg BT 477.19 401.45 Td (expect. ) Tj ET Q q 0 0 0 rg BT 508.18 401.45 Td (W) Tj ET Q q 0 0 0 rg BT 516.51 401.45 Td (ere ) Tj ET Q q 0 0 0 rg BT 533.49 401.45 Td (helping ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 67.50 387.95 Td (clients ) Tj ET Q q 0 0 0 rg BT 95.51 387.95 Td (to ) Tj ET Q q 0 0 0 rg BT 105.52 387.95 Td (better ) Tj ET Q q 0 0 0 rg BT 131.03 387.95 Td (run, ) Tj ET Q q 0 0 0 rg BT 149.04 387.95 Td (change ) Tj ET Q q 0 0 0 rg BT 181.07 387.95 Td (and ) Tj ET Q q 0 0 0 rg BT 198.58 387.95 Td (grow ) Tj ET Q q 0 0 0 rg BT 220.59 387.95 Td (their ) Tj ET Q q 0 0 0 rg BT 240.60 387.95 Td (businesses ) Tj ET Q q 0 0 0 rg BT 288.13 387.95 Td (providing ) Tj ET Q q 0 0 0 rg BT 327.15 387.95 Td (a ) Tj ET Q q 0 0 0 rg BT 334.66 387.95 Td (competitive ) Tj ET Q q 0 0 0 rg BT 382.68 387.95 Td (dif) Tj ET Q q 0 0 0 rg BT 392.02 387.95 Td (ferentiator) Tj ET Q q 0 0 0 rg BT 432.04 387.95 Td (. ) Tj ET Q endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 554.85 22.10 Td (9) Tj ET Q BT /F1 10.00 Tf ET BT /F3 12.00 Tf ET q 0 0 0 rg BT 49.50 706.80 Td () Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 52.83 706.80 Td (2. ) Tj ET Q q 0 0 0 rg BT 72.00 706.80 Td (Highlights and Key Performance Measures) Tj ET Q 0 0 0 RG /GS0 gs 1.50 w 0 i [] 0 d 0 J 0 j 3 M 57.5 696.3 m 57.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 692.3 m 57.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 57.5 692.3 m 142.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 142.5 692.3 m 228.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 228.5 692.3 m 337.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 692.3 m 475.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 692.3 m 561.5 692.3 l s 0 0 0 RG /GS0 gs 1.50 w 0 i [] 0 d 0 J 0 j 3 M 57.5 692.3 m 57.5 688.3 l s BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 672.00 Td (2.1. FISCAL) Tj ET Q q 0 0 0 rg BT 123.35 672.00 Td ( ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 125.85 672.00 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 145.87 672.00 Td ( ) Tj ET Q q 0 0 0 rg BT 148.21 672.00 Td (YEAR-OVER-YEAR HIGHLIGHTS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 73.50 652.50 Td (Key ) Tj ET Q q 0 0 0 rg BT 91.51 652.50 Td (performance ) Tj ET Q q 0 0 0 rg BT 144.53 652.50 Td (figures ) Tj ET Q q 0 0 0 rg BT 174.05 652.50 Td (for ) Tj ET Q q 0 0 0 rg BT 187.05 652.50 Td (the ) Tj ET Q q 0 0 0 rg BT 202.06 652.50 Td (period ) Tj ET Q q 0 0 0 rg BT 229.58 652.50 Td (include:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 85.50 633.00 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 633.00 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 142.03 633.00 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 152.03 633.00 Td ($10.7 ) Tj ET Q q 0 0 0 rg BT 177.06 633.00 Td (billion) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 200.07 633.00 Td (, ) Tj ET Q q 0 0 0 rg BT 205.07 633.00 Td (up ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 217.58 633.00 Td (3.9%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 238.10 633.00 Td (; ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 85.50 613.50 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 613.50 Td (Bookings ) Tj ET Q q 0 0 0 rg BT 143.02 613.50 Td (of ) Tj ET Q q 0 0 0 rg BT 153.03 613.50 Td ($1) Tj ET Q q 0 0 0 rg BT 162.37 613.50 Td (1.7 ) Tj ET Q q 0 0 0 rg BT 177.39 613.50 Td (billion, ) Tj ET Q q 0 0 0 rg BT 205.40 613.50 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 215.90 613.50 Td (1) Tj ET Q q 0 0 0 rg BT 220.24 613.50 Td (10%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 238.25 613.50 Td ( ) Tj ET Q q 0 0 0 rg BT 240.75 613.50 Td (of ) Tj ET Q q 0 0 0 rg BT 250.76 613.50 Td (revenue; ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 85.50 594.00 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 594.00 Td (Backlog ) Tj ET Q q 0 0 0 rg BT 138.02 594.00 Td (of ) Tj ET Q q 0 0 0 rg BT 148.03 594.00 Td ($20.9 ) Tj ET Q q 0 0 0 rg BT 173.05 594.00 Td (billion; ) Tj ET Q q 0 0 0 rg BT 201.06 594.00 Td (up ) Tj ET Q q 0 0 0 rg BT 213.57 594.00 Td ($181.8 ) Tj ET Q q 0 0 0 rg BT 243.60 594.00 Td (million;) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 85.50 574.50 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 574.50 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 141.02 574.50 Td (EBIT) Tj ET Q q 0 0 0 rg BT 160.87 574.50 Td ( ) Tj ET Q q 0 0 0 rg BT 163.37 574.50 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 173.37 574.50 Td ($1,560.3 ) Tj ET Q q 0 0 0 rg BT 210.91 574.50 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 236.41 574.50 Td (, ) Tj ET Q q 0 0 0 rg BT 241.41 574.50 Td (up ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 253.92 574.50 Td (7.1%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 274.44 574.50 Td (;) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 85.50 555.00 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 555.00 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 141.02 555.00 Td (EBIT) Tj ET Q q 0 0 0 rg BT 160.87 555.00 Td ( ) Tj ET Q q 0 0 0 rg BT 163.37 555.00 Td (margin ) Tj ET Q q 0 0 0 rg BT 193.38 555.00 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 203.38 555.00 Td (14.6%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 228.90 555.00 Td (, ) Tj ET Q q 0 0 0 rg BT 233.90 555.00 Td (up ) Tj ET Q q 0 0 0 rg BT 246.41 555.00 Td (40 ) Tj ET Q q 0 0 0 rg BT 258.93 555.00 Td (basis ) Tj ET Q q 0 0 0 rg BT 282.44 555.00 Td (points;) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 85.50 535.50 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 535.50 Td (Net ) Tj ET Q q 0 0 0 rg BT 120.01 535.50 Td (earnings ) Tj ET Q q 0 0 0 rg BT 157.03 535.50 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 167.04 535.50 Td ($1,068.7 ) Tj ET Q q 0 0 0 rg BT 204.57 535.50 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 230.08 535.50 Td (, ) Tj ET Q q 0 0 0 rg BT 235.08 535.50 Td (up ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 247.59 535.50 Td (9.3%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 268.10 535.50 Td (;) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 85.50 516.00 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 516.00 Td (Net ) Tj ET Q q 0 0 0 rg BT 120.01 516.00 Td (earnings ) Tj ET Q q 0 0 0 rg BT 157.03 516.00 Td (margin ) Tj ET Q q 0 0 0 rg BT 187.04 516.00 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 197.05 516.00 Td (10.0%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 222.57 516.00 Td (, ) Tj ET Q q 0 0 0 rg BT 227.57 516.00 Td (up ) Tj ET Q q 0 0 0 rg BT 240.08 516.00 Td (50 ) Tj ET Q q 0 0 0 rg BT 252.59 516.00 Td (basis ) Tj ET Q q 0 0 0 rg BT 276.10 516.00 Td (points;) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 85.50 496.50 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 496.50 Td (Diluted ) Tj ET Q q 0 0 0 rg BT 134.02 496.50 Td (EPS ) Tj ET Q q 0 0 0 rg BT 154.52 496.50 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.53 496.50 Td ($3.42) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 187.05 496.50 Td (, ) Tj ET Q q 0 0 0 rg BT 192.05 496.50 Td (up ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 204.57 496.50 Td (12.5%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 230.08 496.50 Td (;) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 85.50 477.00 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 477.00 Td (Cash ) Tj ET Q q 0 0 0 rg BT 127.01 477.00 Td (provided ) Tj ET Q q 0 0 0 rg BT 164.03 477.00 Td (by ) Tj ET Q q 0 0 0 rg BT 176.04 477.00 Td (operating ) Tj ET Q q 0 0 0 rg BT 216.07 477.00 Td (activities ) Tj ET Q q 0 0 0 rg BT 253.08 477.00 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 263.09 477.00 Td ($1,333.1 ) Tj ET Q q 0 0 0 rg BT 300.62 477.00 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 326.13 477.00 Td (, ) Tj ET Q q 0 0 0 rg BT 331.13 477.00 Td (or ) Tj ET Q q 0 0 0 rg BT 341.63 477.00 Td (12.5% ) Tj ET Q q 0 0 0 rg BT 369.65 477.00 Td (of ) Tj ET Q q 0 0 0 rg BT 379.66 477.00 Td (revenue;) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 85.50 457.50 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 457.50 Td (Net ) Tj ET Q q 0 0 0 rg BT 120.01 457.50 Td (debt ) Tj ET Q q 0 0 0 rg BT 140.02 457.50 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 150.03 457.50 Td ($1.3 ) Tj ET Q q 0 0 0 rg BT 170.05 457.50 Td (billion) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 193.06 457.50 Td (, ) Tj ET Q q 0 0 0 rg BT 198.06 457.50 Td (down ) Tj ET Q q 0 0 0 rg BT 222.08 457.50 Td ($446.3 ) Tj ET Q q 0 0 0 rg BT 252.11 457.50 Td (million; ) Tj ET Q q 0 0 0 rg BT 282.61 457.50 Td (and) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 85.50 438.00 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.50 438.00 Td (Return ) Tj ET Q q 0 0 0 rg BT 133.01 438.00 Td (on ) Tj ET Q q 0 0 0 rg BT 145.52 438.00 Td (equity ) Tj ET Q q 0 0 0 rg BT 172.04 438.00 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 182.05 438.00 Td (17.2%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 207.57 438.00 Td (.) Tj ET Q endstream endobj 23 0 obj <> endobj 24 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (2.2. SELECTED ) Tj ET Q q 0 0 0 rg BT 141.36 708.95 Td (YEARL) Tj ET Q q 0 0 0 rg BT 171.03 708.95 Td (Y) Tj ET Q q 0 0 0 rg BT 176.87 708.95 Td ( INFORMA) Tj ET Q q 0 0 0 rg BT 220.70 708.95 Td (TION& KEY) Tj ET Q q 0 0 0 rg BT 272.04 708.95 Td ( PERFORMANCE MEASURES) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 73.50 692.45 208.00 -33.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 281.50 692.45 56.00 -33.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 337.50 692.45 56.00 -33.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 393.50 692.45 56.00 -33.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 449.50 692.45 56.00 -33.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 505.50 692.45 56.00 -33.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 73.50 647.45 208.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 281.50 647.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 337.50 647.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 393.50 647.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 449.50 647.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 505.50 647.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 634.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 634.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 621.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 621.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 608.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 608.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 595.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 595.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 582.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 582.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 569.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 569.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 73.50 556.45 208.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 281.50 556.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 337.50 556.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 393.50 556.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 449.50 556.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 505.50 556.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 543.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 543.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 530.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 530.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 517.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 517.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 504.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 504.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 491.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 491.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 478.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 478.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 465.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 465.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 452.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 452.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 73.50 439.45 208.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 281.50 439.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 337.50 439.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 393.50 439.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 449.50 439.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 505.50 439.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 426.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 426.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 413.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 413.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 400.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 400.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 73.50 387.45 208.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 281.50 387.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 337.50 387.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 393.50 387.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 449.50 387.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 505.50 387.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 374.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 374.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 361.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 361.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 348.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 348.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 335.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 335.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 73.50 322.45 208.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 281.50 322.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 337.50 322.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 393.50 322.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 449.50 322.45 56.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 505.50 322.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 309.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 309.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 296.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 296.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 281.50 283.45 56.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 449.50 283.45 56.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 73.5 692.45 m 281.5 692.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 281.5 692.45 m 337.5 692.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 337.5 692.45 m 393.5 692.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 393.5 692.45 m 449.5 692.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449.5 692.45 m 505.5 692.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505.5 692.45 m 561.5 692.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 73.5 270.45000000000005 m 281.5 270.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 281.5 270.45000000000005 m 337.5 270.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 337.5 270.45000000000005 m 393.5 270.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 393.5 270.45000000000005 m 449.5 270.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449.5 270.45000000000005 m 505.5 270.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505.5 270.45000000000005 m 561.5 270.45000000000005 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 76.00 663.68 Td (As at and for the years ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 300.10 663.68 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 356.10 663.68 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 412.10 663.68 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 462.30 671.68 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 455.85 663.68 Td (2016 / 2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 518.30 671.68 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 511.85 663.68 Td (2015 / 2014) Tj ET Q BT /F4 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 76.00 651.13 Td (In millions of CAD unless otherwise noted) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 76.00 639.13 Td (Growth) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 76.00 625.93 Td (Revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 290.40 625.68 Td (10,683.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.40 625.68 Td (10,287.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 402.40 625.68 Td (10,499.7) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.95 625.68 Td (396.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 520.30 625.68 Td (\(212.6\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 76.00 612.93 Td (Year-over-year revenue growth) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 299.85 612.68 Td (3.9%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 353.20 612.68 Td (\(2.0%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 411.85 612.68 Td (4.1%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.85 612.68 Td (5.9%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 521.20 612.68 Td (\(6.1%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 76.00 599.93 Td (Constant currency year-over-year revenue growth ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 254.75 603.74 Td (1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 299.85 599.68 Td (0.2%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 353.20 599.68 Td (\(4.0%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 409.20 599.68 Td (\(2.9%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.85 599.68 Td (4.2%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 521.20 599.68 Td (\(1.1%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 76.00 586.93 Td (Backlog) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 296.75 586.68 Td (20,893) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 352.75 586.68 Td (20,711) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 408.75 586.68 Td (18,237) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.30 586.68 Td (182) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 522.95 586.68 Td (2,474) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 76.00 573.93 Td (Bookings) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 296.75 573.68 Td (11,731) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 352.75 573.68 Td (11,640) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 408.75 573.68 Td (10,169) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.55 573.68 Td (91) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 522.95 573.68 Td (1,471) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 76.00 560.93 Td (Book-to-bill ratio) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 295.40 560.68 Td (109.8%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 351.40 560.68 Td (113.2%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 409.65 560.68 Td (96.8%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.20 560.68 Td (\(3.4%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 521.65 560.68 Td (16.4%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 76.00 548.13 Td (Profitability) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 76.00 534.93 Td (Adjusted EBIT) Tj ET Q q 0 0 0 rg BT 126.99 534.93 Td ( ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 129.21 538.74 Td (2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 295.65 534.68 Td (1,560.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 351.65 534.68 Td (1,457.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 407.65 534.68 Td (1,356.9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.95 534.68 Td (103.0) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 522.95 534.68 Td (100.4) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 82.00 521.88 Td (Adjusted EBIT margin ) Tj ET Q BT /F4 8.00 Tf ET BT /F4 5.20 Tf ET q 0 0 0 rg BT 162.04 525.69 Td (2) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 294.65 521.68 Td (14.6%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 353.65 521.63 Td (14.2%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 409.65 521.63 Td (12.9%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.85 521.68 Td (0.4%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 523.85 521.68 Td (1.3%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 76.00 508.93 Td (Net earnings) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 295.65 508.68 Td (1,068.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 354.95 508.68 Td (977.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 410.95 508.68 Td (859.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.20 508.68 Td (91.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 522.95 508.68 Td (118.2) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 82.00 495.88 Td (Net earnings margin) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 297.65 495.68 Td (10.0%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 355.85 495.63 Td (9.5%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 411.85 495.63 Td (8.2%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.85 495.68 Td (0.5%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 523.85 495.68 Td (1.3%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 76.00 482.93 Td (Diluted EPS \(in dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.20 482.68 Td (3.42) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 357.20 482.68 Td (3.04) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 413.20 482.68 Td (2.69) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.20 482.68 Td (0.38) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 525.20 482.68 Td (0.35) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 76.00 469.93 Td (Net earnings excluding specific items) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 207.62 473.74 Td (3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 295.65 469.68 Td (1,081.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 351.65 469.68 Td (1,005.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 410.95 469.68 Td (893.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.20 469.68 Td (76.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 522.95 469.68 Td (111.6) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 82.00 456.88 Td (Net earnings margin excluding specific items ) Tj ET Q BT /F4 8.00 Tf ET BT /F4 5.20 Tf ET q 0 0 0 rg BT 242.52 460.69 Td (3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 297.65 456.68 Td (10.1%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 355.85 456.68 Td (9.8%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 411.85 456.68 Td (8.5%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.85 456.68 Td (0.3%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 523.85 456.68 Td (1.3%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 76.00 443.93 Td (Diluted EPS excluding specific items \(in dollars\) ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 247.18 447.74 Td (3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.20 443.68 Td (3.46) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 357.20 443.68 Td (3.13) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 413.20 443.68 Td (2.80) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.20 443.68 Td (0.33) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 525.20 443.68 Td (0.33) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 76.00 431.13 Td (Liquidity) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 76.00 417.93 Td (Cash provided by operating activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 295.65 417.68 Td (1,333.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 351.65 417.68 Td (1,289.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 407.65 417.68 Td (1,174.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.20 417.68 Td (43.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 522.95 417.68 Td (114.5) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 82.00 404.88 Td (As a % of revenue) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 297.65 404.68 Td (12.5%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 353.65 404.63 Td (12.5%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 409.65 404.63 Td (11.2%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 473.00 404.68 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 523.85 404.68 Td (1.3%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 76.00 391.93 Td (Days sales outstanding ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 160.94 395.74 Td (4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 304.55 391.68 Td (44) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 360.55 391.68 Td (44) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 416.55 391.68 Td (43) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 473.00 391.68 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 530.75 391.68 Td (1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 76.00 379.13 Td (Capital structure) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 76.00 365.93 Td (Net debt ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 108.46 369.74 Td (5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 111.36 365.93 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 295.65 365.68 Td (1,333.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 351.65 365.68 Td (1,779.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 407.65 365.68 Td (2,113.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.30 365.68 Td (\(446.3\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 520.30 365.68 Td (\(333.7\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 76.00 352.93 Td (Net debt to capitalization ratio ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 183.62 356.74 Td (6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 186.51 352.93 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 297.65 352.68 Td (15.8%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 350.65 352.68 Td (21.7%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 406.65 352.68 Td (27.6%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.20 352.68 Td (\(5.9%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 521.20 352.68 Td (\(5.9%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 76.00 339.93 Td (Return on equity ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 136.93 343.74 Td (7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 139.82 339.93 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 297.65 339.68 Td (17.2%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 350.65 339.68 Td (17.7%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 406.65 339.68 Td (18.8%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.20 339.68 Td (\(0.5%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 521.20 339.68 Td (\(1.1%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 76.00 326.93 Td (Return on invested capital ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 170.72 330.74 Td (8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 173.61 326.93 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 297.65 326.68 Td (14.5%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 350.65 326.68 Td (14.5%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 406.65 326.68 Td (14.5%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 473.00 326.68 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 529.00 326.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 76.00 314.13 Td (Balance sheet) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 76.00 300.93 Td (Cash and cash equivalents, and short-term investments) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.95 300.68 Td (596.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 354.95 300.68 Td (305.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 410.95 300.68 Td (535.7) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.95 300.68 Td (291.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 520.30 300.68 Td (\(230.4\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 76.00 287.93 Td (Total assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 293.40 287.68 Td (11,693.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.40 287.68 Td (11,787.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 405.40 287.68 Td (11,234.1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.55 287.68 Td (\(94.0\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 522.95 287.68 Td (553.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 76.00 274.93 Td (Long-term financial liabilities ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 178.71 278.74 Td (9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 295.65 274.68 Td (1,765.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 351.65 274.68 Td (1,896.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 407.65 274.68 Td (2,748.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.30 274.68 Td (\(131.0\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 520.30 274.68 Td (\(852.0\)) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 72.00 262.29 Td (1) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 74.53 263.48 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.16 258.95 Td ( ) Tj ET Q q 0 0 0 rg BT 76.50 258.95 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 94.50 258.95 Td (Constant ) Tj ET Q q 0 0 0 rg BT 124.46 258.95 Td (currency ) Tj ET Q q 0 0 0 rg BT 153.25 258.95 Td (growth ) Tj ET Q q 0 0 0 rg BT 176.20 258.95 Td (is ) Tj ET Q q 0 0 0 rg BT 183.20 258.95 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 211.61 258.95 Td (to ) Tj ET Q q 0 0 0 rg BT 219.40 258.95 Td (remove ) Tj ET Q q 0 0 0 rg BT 244.68 258.95 Td (the ) Tj ET Q q 0 0 0 rg BT 256.36 258.95 Td (impact ) Tj ET Q q 0 0 0 rg BT 278.92 258.95 Td (of ) Tj ET Q q 0 0 0 rg BT 286.70 258.95 Td (foreign ) Tj ET Q q 0 0 0 rg BT 310.05 258.95 Td (currency ) Tj ET Q q 0 0 0 rg BT 338.84 258.95 Td (exchange ) Tj ET Q q 0 0 0 rg BT 371.14 258.95 Td (rate ) Tj ET Q q 0 0 0 rg BT 385.15 258.95 Td (fluctuations. ) Tj ET Q q 0 0 0 rg BT 424.45 258.95 Td (Please ) Tj ET Q q 0 0 0 rg BT 447.79 258.95 Td (refer ) Tj ET Q q 0 0 0 rg BT 464.13 258.95 Td (to ) Tj ET Q q 0 0 0 rg BT 471.92 258.95 Td (section ) Tj ET Q q 0 0 0 rg BT 496.04 258.95 Td (3.4 ) Tj ET Q q 0 0 0 rg BT 507.72 258.95 Td (for ) Tj ET Q q 0 0 0 rg BT 517.83 258.95 Td (details.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 72.00 251.89 Td (2 ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 75.79 248.55 Td ( ) Tj ET Q q 0 0 0 rg BT 94.50 248.55 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 123.69 248.55 Td (EBIT) Tj ET Q q 0 0 0 rg BT 139.12 248.55 Td ( ) Tj ET Q q 0 0 0 rg BT 141.07 248.55 Td (is ) Tj ET Q q 0 0 0 rg BT 148.07 248.55 Td (a ) Tj ET Q q 0 0 0 rg BT 153.91 248.55 Td (measure ) Tj ET Q q 0 0 0 rg BT 183.09 248.55 Td (for ) Tj ET Q q 0 0 0 rg BT 193.21 248.55 Td (which ) Tj ET Q q 0 0 0 rg BT 213.06 248.55 Td (we ) Tj ET Q q 0 0 0 rg BT 223.95 248.55 Td (provide ) Tj ET Q q 0 0 0 rg BT 248.86 248.55 Td (the ) Tj ET Q q 0 0 0 rg BT 260.54 248.55 Td (reconciliation ) Tj ET Q q 0 0 0 rg BT 303.34 248.55 Td (to ) Tj ET Q q 0 0 0 rg BT 311.13 248.55 Td (its ) Tj ET Q q 0 0 0 rg BT 320.07 248.55 Td (closest ) Tj ET Q q 0 0 0 rg BT 343.81 248.55 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 361.70 248.55 Td (measure ) Tj ET Q q 0 0 0 rg BT 390.88 248.55 Td (in ) Tj ET Q q 0 0 0 rg BT 398.28 248.55 Td (section ) Tj ET Q q 0 0 0 rg BT 422.40 248.55 Td (3.7. ) Tj ET Q q 0 0 0 rg BT 436.03 248.55 Td (For ) Tj ET Q q 0 0 0 rg BT 448.48 248.55 Td (the ) Tj ET Q q 0 0 0 rg BT 460.15 248.55 Td (year ) Tj ET Q q 0 0 0 rg BT 475.72 248.55 Td (ended ) Tj ET Q q 0 0 0 rg BT 497.13 248.55 Td (September ) Tj ET Q q 0 0 0 rg BT 533.32 248.55 Td (30, ) Tj ET Q q 0 0 0 rg BT 545.00 248.55 Td (2014, ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 94.50 240.15 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 122.42 240.15 Td (EBIT) Tj ET Q q 0 0 0 rg BT 137.85 240.15 Td ( ) Tj ET Q q 0 0 0 rg BT 139.30 240.15 Td (excludes ) Tj ET Q q 0 0 0 rg BT 168.38 240.15 Td (integration-related ) Tj ET Q q 0 0 0 rg BT 226.25 240.15 Td (costs ) Tj ET Q q 0 0 0 rg BT 244.04 240.15 Td (related ) Tj ET Q q 0 0 0 rg BT 266.90 240.15 Td (to ) Tj ET Q q 0 0 0 rg BT 274.19 240.15 Td (the ) Tj ET Q q 0 0 0 rg BT 285.37 240.15 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 325.72 240.15 Td (and ) Tj ET Q q 0 0 0 rg BT 338.85 240.15 Td (transformation ) Tj ET Q q 0 0 0 rg BT 385.05 240.15 Td (of ) Tj ET Q q 0 0 0 rg BT 392.33 240.15 Td (the ) Tj ET Q q 0 0 0 rg BT 403.52 240.15 Td (operations ) Tj ET Q q 0 0 0 rg BT 437.66 240.15 Td (of ) Tj ET Q q 0 0 0 rg BT 444.95 240.15 Td (Logica ) Tj ET Q q 0 0 0 rg BT 467.02 240.15 Td (plc ) Tj ET Q q 0 0 0 rg BT 477.42 240.15 Td (\("Logica"\) ) Tj ET Q q 0 0 0 rg BT 509.13 240.15 Td (to ) Tj ET Q q 0 0 0 rg BT 516.42 240.15 Td (the ) Tj ET Q q 0 0 0 rg BT 527.61 240.15 Td (CGI ) Tj ET Q q 0 0 0 rg BT 541.50 240.15 Td (model. ) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 72.00 233.09 Td (3) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 74.53 229.75 Td ( ) Tj ET Q q 0 0 0 rg BT 94.50 229.75 Td (Net ) Tj ET Q q 0 0 0 rg BT 107.01 229.75 Td (earnings ) Tj ET Q q 0 0 0 rg BT 135.48 229.75 Td (excluding ) Tj ET Q q 0 0 0 rg BT 166.67 229.75 Td (specific ) Tj ET Q q 0 0 0 rg BT 191.63 229.75 Td (items ) Tj ET Q q 0 0 0 rg BT 209.97 229.75 Td (is ) Tj ET Q q 0 0 0 rg BT 216.64 229.75 Td (a ) Tj ET Q q 0 0 0 rg BT 222.15 229.75 Td (measure ) Tj ET Q q 0 0 0 rg BT 251.00 229.75 Td (for ) Tj ET Q q 0 0 0 rg BT 260.78 229.75 Td (which ) Tj ET Q q 0 0 0 rg BT 280.30 229.75 Td (we ) Tj ET Q q 0 0 0 rg BT 290.86 229.75 Td (provide ) Tj ET Q q 0 0 0 rg BT 315.44 229.75 Td (the ) Tj ET Q q 0 0 0 rg BT 326.78 229.75 Td (reconciliation ) Tj ET Q q 0 0 0 rg BT 369.25 229.75 Td (to ) Tj ET Q q 0 0 0 rg BT 376.71 229.75 Td (its ) Tj ET Q q 0 0 0 rg BT 385.32 229.75 Td (closest ) Tj ET Q q 0 0 0 rg BT 408.73 229.75 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 426.29 229.75 Td (measure ) Tj ET Q q 0 0 0 rg BT 455.14 229.75 Td (in ) Tj ET Q q 0 0 0 rg BT 462.20 229.75 Td (section ) Tj ET Q q 0 0 0 rg BT 486.00 229.75 Td (3.8.3 ) Tj ET Q q 0 0 0 rg BT 503.18 229.75 Td (for ) Tj ET Q q 0 0 0 rg BT 512.97 229.75 Td (the ) Tj ET Q q 0 0 0 rg BT 524.31 229.75 Td (years ) Tj ET Q q 0 0 0 rg BT 543.05 229.75 Td (ended ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 94.50 221.35 Td (September ) Tj ET Q q 0 0 0 rg BT 130.97 221.35 Td (30, ) Tj ET Q q 0 0 0 rg BT 142.93 221.35 Td (2016 ) Tj ET Q q 0 0 0 rg BT 160.74 221.35 Td (and ) Tj ET Q q 0 0 0 rg BT 174.65 221.35 Td (2015. ) Tj ET Q q 0 0 0 rg BT 194.39 221.35 Td (For ) Tj ET Q q 0 0 0 rg BT 207.12 221.35 Td (the ) Tj ET Q q 0 0 0 rg BT 219.08 221.35 Td (year ) Tj ET Q q 0 0 0 rg BT 234.93 221.35 Td (ended ) Tj ET Q q 0 0 0 rg BT 256.63 221.35 Td (September ) Tj ET Q q 0 0 0 rg BT 293.10 221.35 Td (30, ) Tj ET Q q 0 0 0 rg BT 305.06 221.35 Td (2014 ) Tj ET Q q 0 0 0 rg BT 322.86 221.35 Td (specific ) Tj ET Q q 0 0 0 rg BT 348.44 221.35 Td (items ) Tj ET Q q 0 0 0 rg BT 367.39 221.35 Td (includes ) Tj ET Q q 0 0 0 rg BT 395.30 221.35 Td (integration-related ) Tj ET Q q 0 0 0 rg BT 453.96 221.35 Td (costs ) Tj ET Q q 0 0 0 rg BT 472.53 221.35 Td (and ) Tj ET Q q 0 0 0 rg BT 486.44 221.35 Td (resolution ) Tj ET Q q 0 0 0 rg BT 519.02 221.35 Td (of ) Tj ET Q q 0 0 0 rg BT 527.09 221.35 Td (acquisition-) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 94.50 212.95 Td (related ) Tj ET Q q 0 0 0 rg BT 118.23 212.95 Td (provisions ) Tj ET Q q 0 0 0 rg BT 152.08 212.95 Td (net ) Tj ET Q q 0 0 0 rg BT 164.14 212.95 Td (of ) Tj ET Q q 0 0 0 rg BT 172.31 212.95 Td (taxes ) Tj ET Q q 0 0 0 rg BT 191.37 212.95 Td (as ) Tj ET Q q 0 0 0 rg BT 201.10 212.95 Td (well ) Tj ET Q q 0 0 0 rg BT 215.49 212.95 Td (as ) Tj ET Q q 0 0 0 rg BT 225.21 212.95 Td (tax ) Tj ET Q q 0 0 0 rg BT 236.88 212.95 Td (adjustments. ) Tj ET Q q 0 0 0 rg BT 278.90 212.95 Td (Resolution ) Tj ET Q q 0 0 0 rg BT 314.31 212.95 Td (of ) Tj ET Q q 0 0 0 rg BT 322.48 212.95 Td (acquisition-related ) Tj ET Q q 0 0 0 rg BT 381.62 212.95 Td (provisions ) Tj ET Q q 0 0 0 rg BT 415.46 212.95 Td (came ) Tj ET Q q 0 0 0 rg BT 434.91 212.95 Td (from ) Tj ET Q q 0 0 0 rg BT 451.24 212.95 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 491.32 212.95 Td (of ) Tj ET Q q 0 0 0 rg BT 499.49 212.95 Td (provisions ) Tj ET Q q 0 0 0 rg BT 533.33 212.95 Td (that ) Tj ET Q q 0 0 0 rg BT 547.34 212.95 Td (were ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 94.50 204.55 Td (established ) Tj ET Q q 0 0 0 rg BT 132.70 204.55 Td (as ) Tj ET Q q 0 0 0 rg BT 142.89 204.55 Td (part ) Tj ET Q q 0 0 0 rg BT 157.74 204.55 Td (of ) Tj ET Q q 0 0 0 rg BT 166.37 204.55 Td (the ) Tj ET Q q 0 0 0 rg BT 178.89 204.55 Td (purchase ) Tj ET Q q 0 0 0 rg BT 210.48 204.55 Td (price ) Tj ET Q q 0 0 0 rg BT 228.44 204.55 Td (allocation ) Tj ET Q q 0 0 0 rg BT 260.81 204.55 Td (for ) Tj ET Q q 0 0 0 rg BT 271.77 204.55 Td (the ) Tj ET Q q 0 0 0 rg BT 284.29 204.55 Td (Logica ) Tj ET Q q 0 0 0 rg BT 307.71 204.55 Td (acquisition. ) Tj ET Q q 0 0 0 rg BT 345.52 204.55 Td (Subsequent ) Tj ET Q q 0 0 0 rg BT 385.68 204.55 Td (to ) Tj ET Q q 0 0 0 rg BT 394.31 204.55 Td (the ) Tj ET Q q 0 0 0 rg BT 406.83 204.55 Td (finalization ) Tj ET Q q 0 0 0 rg BT 442.70 204.55 Td (of ) Tj ET Q q 0 0 0 rg BT 451.32 204.55 Td (the ) Tj ET Q q 0 0 0 rg BT 463.85 204.55 Td (purchase ) Tj ET Q q 0 0 0 rg BT 495.43 204.55 Td (price ) Tj ET Q q 0 0 0 rg BT 513.40 204.55 Td (allocation, ) Tj ET Q q 0 0 0 rg BT 547.71 204.55 Td (such ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 94.50 196.15 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 134.19 196.15 Td (flow ) Tj ET Q q 0 0 0 rg BT 148.58 196.15 Td (through ) Tj ET Q q 0 0 0 rg BT 174.27 196.15 Td (the ) Tj ET Q q 0 0 0 rg BT 185.94 196.15 Td (statement ) Tj ET Q q 0 0 0 rg BT 218.62 196.15 Td (of ) Tj ET Q q 0 0 0 rg BT 226.41 196.15 Td (earnings. ) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 72.00 189.09 Td (4 ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 75.79 185.75 Td ( ) Tj ET Q q 0 0 0 rg BT 94.50 185.75 Td (DSO ) Tj ET Q q 0 0 0 rg BT 111.61 185.75 Td (is ) Tj ET Q q 0 0 0 rg BT 118.61 185.75 Td (a ) Tj ET Q q 0 0 0 rg BT 124.45 185.75 Td (measure ) Tj ET Q q 0 0 0 rg BT 153.63 185.75 Td (which ) Tj ET Q q 0 0 0 rg BT 173.47 185.75 Td (is ) Tj ET Q q 0 0 0 rg BT 180.47 185.75 Td (discussed ) Tj ET Q q 0 0 0 rg BT 213.54 185.75 Td (in ) Tj ET Q q 0 0 0 rg BT 220.94 185.75 Td (section ) Tj ET Q q 0 0 0 rg BT 245.06 185.75 Td (4.5.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 72.00 178.69 Td (5) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 74.53 175.35 Td ( ) Tj ET Q q 0 0 0 rg BT 94.50 175.35 Td (Net ) Tj ET Q q 0 0 0 rg BT 107.34 175.35 Td (debt ) Tj ET Q q 0 0 0 rg BT 122.91 175.35 Td (is ) Tj ET Q q 0 0 0 rg BT 129.91 175.35 Td (a ) Tj ET Q q 0 0 0 rg BT 135.74 175.35 Td (measure ) Tj ET Q q 0 0 0 rg BT 164.92 175.35 Td (for ) Tj ET Q q 0 0 0 rg BT 175.04 175.35 Td (which ) Tj ET Q q 0 0 0 rg BT 194.88 175.35 Td (we ) Tj ET Q q 0 0 0 rg BT 205.77 175.35 Td (provide ) Tj ET Q q 0 0 0 rg BT 230.68 175.35 Td (the ) Tj ET Q q 0 0 0 rg BT 242.35 175.35 Td (reconciliation ) Tj ET Q q 0 0 0 rg BT 285.15 175.35 Td (to ) Tj ET Q q 0 0 0 rg BT 292.93 175.35 Td (its ) Tj ET Q q 0 0 0 rg BT 301.88 175.35 Td (closest ) Tj ET Q q 0 0 0 rg BT 325.61 175.35 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 343.50 175.35 Td (measure ) Tj ET Q q 0 0 0 rg BT 372.68 175.35 Td (in ) Tj ET Q q 0 0 0 rg BT 380.07 175.35 Td (section ) Tj ET Q q 0 0 0 rg BT 404.20 175.35 Td (4.5.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 72.00 168.29 Td (6 ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 75.79 164.95 Td ( ) Tj ET Q q 0 0 0 rg BT 94.50 164.95 Td (The ) Tj ET Q q 0 0 0 rg BT 108.51 164.95 Td (net ) Tj ET Q q 0 0 0 rg BT 120.18 164.95 Td (debt ) Tj ET Q q 0 0 0 rg BT 135.75 164.95 Td (to ) Tj ET Q q 0 0 0 rg BT 143.53 164.95 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 185.95 164.95 Td (ratio ) Tj ET Q q 0 0 0 rg BT 201.51 164.95 Td (is ) Tj ET Q q 0 0 0 rg BT 208.51 164.95 Td (a ) Tj ET Q q 0 0 0 rg BT 214.35 164.95 Td (measure ) Tj ET Q q 0 0 0 rg BT 243.53 164.95 Td (which ) Tj ET Q q 0 0 0 rg BT 263.37 164.95 Td (is ) Tj ET Q q 0 0 0 rg BT 270.37 164.95 Td (discussed ) Tj ET Q q 0 0 0 rg BT 303.44 164.95 Td (in ) Tj ET Q q 0 0 0 rg BT 310.83 164.95 Td (section ) Tj ET Q q 0 0 0 rg BT 334.96 164.95 Td (4.5.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 72.00 157.89 Td (7) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 74.53 154.55 Td ( ) Tj ET Q q 0 0 0 rg BT 76.48 154.55 Td ( ) Tj ET Q q 0 0 0 rg BT 94.50 154.55 Td (ROE ) Tj ET Q q 0 0 0 rg BT 111.61 154.55 Td (is ) Tj ET Q q 0 0 0 rg BT 118.61 154.55 Td (a ) Tj ET Q q 0 0 0 rg BT 124.45 154.55 Td (measure ) Tj ET Q q 0 0 0 rg BT 153.63 154.55 Td (which ) Tj ET Q q 0 0 0 rg BT 173.47 154.55 Td (is ) Tj ET Q q 0 0 0 rg BT 180.47 154.55 Td (discussed ) Tj ET Q q 0 0 0 rg BT 213.54 154.55 Td (in ) Tj ET Q q 0 0 0 rg BT 220.94 154.55 Td (section ) Tj ET Q q 0 0 0 rg BT 245.06 154.55 Td (4.5.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 72.00 147.49 Td (8) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 74.53 144.15 Td ( ) Tj ET Q q 0 0 0 rg BT 76.48 144.15 Td ( ) Tj ET Q q 0 0 0 rg BT 94.50 144.15 Td (ROIC ) Tj ET Q q 0 0 0 rg BT 113.94 144.15 Td (is ) Tj ET Q q 0 0 0 rg BT 120.94 144.15 Td (a ) Tj ET Q q 0 0 0 rg BT 126.78 144.15 Td (measure ) Tj ET Q q 0 0 0 rg BT 155.96 144.15 Td (which ) Tj ET Q q 0 0 0 rg BT 175.80 144.15 Td (is ) Tj ET Q q 0 0 0 rg BT 182.80 144.15 Td (discussed ) Tj ET Q q 0 0 0 rg BT 215.88 144.15 Td (in ) Tj ET Q q 0 0 0 rg BT 223.27 144.15 Td (section ) Tj ET Q q 0 0 0 rg BT 247.39 144.15 Td (4.5.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 72.00 137.09 Td (9) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 74.53 133.75 Td ( ) Tj ET Q q 0 0 0 rg BT 94.50 133.75 Td (Long-term ) Tj ET Q q 0 0 0 rg BT 128.35 133.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 155.98 133.75 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 184.38 133.75 Td (include ) Tj ET Q q 0 0 0 rg BT 208.50 133.75 Td (the ) Tj ET Q q 0 0 0 rg BT 220.18 133.75 Td (long-term ) Tj ET Q q 0 0 0 rg BT 251.69 133.75 Td (portion ) Tj ET Q q 0 0 0 rg BT 275.04 133.75 Td (of ) Tj ET Q q 0 0 0 rg BT 282.82 133.75 Td (the ) Tj ET Q q 0 0 0 rg BT 294.50 133.75 Td (debt ) Tj ET Q q 0 0 0 rg BT 310.06 133.75 Td (and ) Tj ET Q q 0 0 0 rg BT 323.69 133.75 Td (the ) Tj ET Q q 0 0 0 rg BT 335.36 133.75 Td (long-term ) Tj ET Q q 0 0 0 rg BT 366.87 133.75 Td (derivative ) Tj ET Q q 0 0 0 rg BT 398.78 133.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 426.41 133.75 Td (instruments.) Tj ET Q endstream endobj 25 0 obj <> endobj 26 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 551.45 22.10 Td (1) Tj ET Q q 0 0 0 rg BT 554.82 22.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (2.3. ST) Tj ET Q q 0 0 0 rg BT 102.35 708.95 Td (OCK PERFORMANCE) Tj ET Q /GS0 gs q 513.00 0 0 325.50 61.50 372.50 cm /I2 Do Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 346.70 Td (2.3.1. ) Tj ET Q q 0 0 0 rg BT 98.52 346.70 Td (Fiscal ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 126.53 346.70 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 146.55 346.70 Td ( ) Tj ET Q q 0 0 0 rg BT 149.06 346.70 Td (T) Tj ET Q q 0 0 0 rg BT 154.06 346.70 Td (rading ) Tj ET Q q 0 0 0 rg BT 184.06 346.70 Td (Summary) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 330.20 Td (CGI) Tj ET Q q 0 0 0 rg BT 89.84 330.20 Td (s ) Tj ET Q q 0 0 0 rg BT 97.43 330.20 Td (shares ) Tj ET Q q 0 0 0 rg BT 127.53 330.20 Td (are ) Tj ET Q q 0 0 0 rg BT 143.63 330.20 Td (listed ) Tj ET Q q 0 0 0 rg BT 167.72 330.20 Td (on ) Tj ET Q q 0 0 0 rg BT 180.82 330.20 Td (the ) Tj ET Q q 0 0 0 rg BT 196.22 330.20 Td (T) Tj ET Q q 0 0 0 rg BT 200.72 330.20 Td (oronto ) Tj ET Q q 0 0 0 rg BT 229.33 330.20 Td (Stock ) Tj ET Q q 0 0 0 rg BT 254.93 330.20 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 298.05 330.20 Td (\(TSX\) ) Tj ET Q q 0 0 0 rg BT 330.63 330.20 Td (\(stock ) Tj ET Q q 0 0 0 rg BT 357.72 330.20 Td (quote ) Tj ET Q q 0 0 0 rg BT 383.33 330.20 Td ( ) Tj ET Q q 0 0 0 rg BT 391.42 330.20 Td (GIB.A\) ) Tj ET Q q 0 0 0 rg BT 421.52 330.20 Td (and ) Tj ET Q q 0 0 0 rg BT 439.62 330.20 Td (the ) Tj ET Q q 0 0 0 rg BT 455.22 330.20 Td (New ) Tj ET Q q 0 0 0 rg BT 476.12 330.20 Td (Y) Tj ET Q q 0 0 0 rg BT 481.29 330.20 Td (ork ) Tj ET Q q 0 0 0 rg BT 496.88 330.20 Td (Stock ) Tj ET Q q 0 0 0 rg BT 522.48 330.20 Td (Exchange ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 316.70 Td (\(NYSE\) ) Tj ET Q q 0 0 0 rg BT 111.00 316.70 Td (\(stock ) Tj ET Q q 0 0 0 rg BT 137.50 316.70 Td (quote ) Tj ET Q q 0 0 0 rg BT 162.52 316.70 Td ( ) Tj ET Q q 0 0 0 rg BT 170.03 316.70 Td (GIB\) ) Tj ET Q q 0 0 0 rg BT 191.03 316.70 Td (and ) Tj ET Q q 0 0 0 rg BT 208.55 316.70 Td (are ) Tj ET Q q 0 0 0 rg BT 224.06 316.70 Td (included ) Tj ET Q q 0 0 0 rg BT 260.08 316.70 Td (in ) Tj ET Q q 0 0 0 rg BT 269.59 316.70 Td (various ) Tj ET Q q 0 0 0 rg BT 301.10 316.70 Td (indexes ) Tj ET Q q 0 0 0 rg BT 334.62 316.70 Td (such ) Tj ET Q q 0 0 0 rg BT 356.13 316.70 Td (as ) Tj ET Q q 0 0 0 rg BT 368.14 316.70 Td (the ) Tj ET Q q 0 0 0 rg BT 383.15 316.70 Td (S&P/TSX ) Tj ET Q q 0 0 0 rg BT 423.66 316.70 Td (60 ) Tj ET Q q 0 0 0 rg BT 436.17 316.70 Td (Index.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 75.00 295.60 Td (TSX) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 272.00 295.60 Td (\(CAD\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 335.00 295.60 Td (NYSE) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.00 295.60 Td (\(USD\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 75.00 282.15 Td (Open:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 274.45 280.60 Td (48.35) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 335.00 282.15 Td (Open:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.45 280.60 Td (36.34) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 75.00 267.15 Td (High:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 274.45 265.60 Td (65.84) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 335.00 267.15 Td (High:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.45 265.60 Td (50.58) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 75.00 252.15 Td (Low:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 274.45 250.60 Td (46.91) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 335.00 252.15 Td (Low:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.45 250.60 Td (35.38) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 75.00 237.15 Td (Close:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 274.45 235.60 Td (62.49) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 335.00 237.15 Td (Close:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.45 235.60 Td (47.63) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 75.00 222.15 Td (CDN average daily trading volumes) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 216.57 226.44 Td (1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 219.82 222.15 Td (:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 256.95 222.15 Td (1,001,525) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 335.00 222.15 Td (NYSE average daily trading volumes:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.45 222.15 Td (199,750) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 72.00 205.64 Td (1) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 74.53 202.30 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 202.30 Td ( ) Tj ET Q q 0 0 0 rg BT 94.50 202.30 Td (Includes the average daily volumes of both the ) Tj ET Q q 0 0 0 rg BT 240.69 202.30 Td (TSX and alternative trading systems.) Tj ET Q endstream endobj 27 0 obj <> endobj 28 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (12) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 72.00 708.95 Td (2.3.2. ) Tj ET Q q 0 0 0 rg BT 97.02 708.95 Td (Share ) Tj ET Q q 0 0 0 rg BT 124.53 708.95 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 178.55 708.95 Td (Program) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 689.45 Td (On ) Tj ET Q q 0 0 0 rg BT 86.82 689.45 Td (January27, ) Tj ET Q q 0 0 0 rg BT 136.67 689.45 Td (2016, ) Tj ET Q q 0 0 0 rg BT 162.01 689.45 Td (the ) Tj ET Q q 0 0 0 rg BT 177.34 689.45 Td (Company) Tj ET Q q 0 0 0 rg BT 217.70 689.45 Td (s ) Tj ET Q q 0 0 0 rg BT 225.01 689.45 Td (Board ) Tj ET Q q 0 0 0 rg BT 251.85 689.45 Td (of ) Tj ET Q q 0 0 0 rg BT 262.17 689.45 Td (Directors ) Tj ET Q q 0 0 0 rg BT 300.99 689.45 Td (authorized ) Tj ET Q q 0 0 0 rg BT 345.84 689.45 Td (and ) Tj ET Q q 0 0 0 rg BT 363.67 689.45 Td (subsequently ) Tj ET Q q 0 0 0 rg BT 419.53 689.45 Td (received ) Tj ET Q q 0 0 0 rg BT 456.37 689.45 Td (the ) Tj ET Q q 0 0 0 rg BT 471.70 689.45 Td (approval ) Tj ET Q q 0 0 0 rg BT 509.04 689.45 Td (from ) Tj ET Q q 0 0 0 rg BT 529.85 689.45 Td (the ) Tj ET Q q 0 0 0 rg BT 545.00 689.45 Td (TSX ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 675.95 Td (for ) Tj ET Q q 0 0 0 rg BT 84.67 675.95 Td (the ) Tj ET Q q 0 0 0 rg BT 99.36 675.95 Td (renewal ) Tj ET Q q 0 0 0 rg BT 133.05 675.95 Td (of ) Tj ET Q q 0 0 0 rg BT 142.73 675.95 Td (the ) Tj ET Q q 0 0 0 rg BT 157.41 675.95 Td (Normal ) Tj ET Q q 0 0 0 rg BT 188.58 675.95 Td (Course ) Tj ET Q q 0 0 0 rg BT 219.77 675.95 Td (Issuer ) Tj ET Q q 0 0 0 rg BT 246.45 675.95 Td (Bid ) Tj ET Q q 0 0 0 rg BT 261.63 675.95 Td (\(NCIB\) ) Tj ET Q q 0 0 0 rg BT 297.29 675.95 Td (to ) Tj ET Q q 0 0 0 rg BT 306.97 675.95 Td (purchase ) Tj ET Q q 0 0 0 rg BT 346.16 675.95 Td (up ) Tj ET Q q 0 0 0 rg BT 358.35 675.95 Td (to ) Tj ET Q q 0 0 0 rg BT 368.02 675.95 Td (21,425,992 ) Tj ET Q q 0 0 0 rg BT 415.24 675.95 Td (Class) Tj ET Q q 0 0 0 rg BT 439.75 675.95 Td (A) Tj ET Q q 0 0 0 rg BT 445.26 675.95 Td ( ) Tj ET Q q 0 0 0 rg BT 447.43 675.95 Td (subordinate ) Tj ET Q q 0 0 0 rg BT 496.63 675.95 Td (voting ) Tj ET Q q 0 0 0 rg BT 522.82 675.95 Td (shares ) Tj ET Q q 0 0 0 rg BT 552.01 675.95 Td (for ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 662.45 Td (cancellation, ) Tj ET Q q 0 0 0 rg BT 124.73 662.45 Td (representing ) Tj ET Q q 0 0 0 rg BT 177.46 662.45 Td (10% ) Tj ET Q q 0 0 0 rg BT 198.17 662.45 Td (of ) Tj ET Q q 0 0 0 rg BT 208.38 662.45 Td (the ) Tj ET Q q 0 0 0 rg BT 223.58 662.45 Td (Company) Tj ET Q q 0 0 0 rg BT 263.94 662.45 Td (s ) Tj ET Q q 0 0 0 rg BT 271.14 662.45 Td (public ) Tj ET Q q 0 0 0 rg BT 297.35 662.45 Td (float ) Tj ET Q q 0 0 0 rg BT 317.06 662.45 Td (as ) Tj ET Q q 0 0 0 rg BT 329.26 662.45 Td (of ) Tj ET Q q 0 0 0 rg BT 339.47 662.45 Td (the ) Tj ET Q q 0 0 0 rg BT 354.68 662.45 Td (close ) Tj ET Q q 0 0 0 rg BT 378.39 662.45 Td (of ) Tj ET Q q 0 0 0 rg BT 388.59 662.45 Td (business ) Tj ET Q q 0 0 0 rg BT 426.81 662.45 Td (on ) Tj ET Q q 0 0 0 rg BT 439.52 662.45 Td (January22, ) Tj ET Q q 0 0 0 rg BT 489.25 662.45 Td (2016. ) Tj ET Q q 0 0 0 rg BT 514.29 662.45 Td (The ) Tj ET Q q 0 0 0 rg BT 532.50 662.45 Td (Class) Tj ET Q q 0 0 0 rg BT 557.01 662.45 Td (A) Tj ET Q q 0 0 0 rg BT 562.51 662.45 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 648.95 Td (subordinate ) Tj ET Q q 0 0 0 rg BT 121.85 648.95 Td (voting ) Tj ET Q q 0 0 0 rg BT 148.68 648.95 Td (shares ) Tj ET Q q 0 0 0 rg BT 178.51 648.95 Td (may ) Tj ET Q q 0 0 0 rg BT 198.33 648.95 Td (be ) Tj ET Q q 0 0 0 rg BT 211.16 648.95 Td (purchased ) Tj ET Q q 0 0 0 rg BT 256.01 648.95 Td (under ) Tj ET Q q 0 0 0 rg BT 281.84 648.95 Td (the ) Tj ET Q q 0 0 0 rg BT 297.17 648.95 Td (NCIB ) Tj ET Q q 0 0 0 rg BT 321.49 648.95 Td (commencing ) Tj ET Q q 0 0 0 rg BT 375.33 648.95 Td (February1) Tj ET Q q 0 0 0 rg BT 418.18 648.95 Td (1, ) Tj ET Q q 0 0 0 rg BT 428.50 648.95 Td (2016 ) Tj ET Q q 0 0 0 rg BT 451.34 648.95 Td (and ) Tj ET Q q 0 0 0 rg BT 469.17 648.95 Td (ending ) Tj ET Q q 0 0 0 rg BT 499.02 648.95 Td (on ) Tj ET Q q 0 0 0 rg BT 511.84 648.95 Td (the ) Tj ET Q q 0 0 0 rg BT 527.17 648.95 Td (earlier ) Tj ET Q q 0 0 0 rg BT 555.00 648.95 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 635.45 Td (February3, ) Tj ET Q q 0 0 0 rg BT 120.25 635.45 Td (2017 ) Tj ET Q q 0 0 0 rg BT 142.51 635.45 Td (or ) Tj ET Q q 0 0 0 rg BT 152.75 635.45 Td (the ) Tj ET Q q 0 0 0 rg BT 167.50 635.45 Td (date ) Tj ET Q q 0 0 0 rg BT 187.25 635.45 Td (on ) Tj ET Q q 0 0 0 rg BT 199.49 635.45 Td (which ) Tj ET Q q 0 0 0 rg BT 224.74 635.45 Td (the ) Tj ET Q q 0 0 0 rg BT 239.49 635.45 Td (Company ) Tj ET Q q 0 0 0 rg BT 280.24 635.45 Td (has ) Tj ET Q q 0 0 0 rg BT 296.99 635.45 Td (either ) Tj ET Q q 0 0 0 rg BT 321.73 635.45 Td (acquired ) Tj ET Q q 0 0 0 rg BT 358.49 635.45 Td (the ) Tj ET Q q 0 0 0 rg BT 373.24 635.45 Td (maximum ) Tj ET Q q 0 0 0 rg BT 414.48 635.45 Td (number ) Tj ET Q q 0 0 0 rg BT 447.23 635.45 Td (of ) Tj ET Q q 0 0 0 rg BT 456.97 635.45 Td (Class) Tj ET Q q 0 0 0 rg BT 481.48 635.45 Td (A) Tj ET Q q 0 0 0 rg BT 486.98 635.45 Td ( ) Tj ET Q q 0 0 0 rg BT 489.22 635.45 Td (subordinate ) Tj ET Q q 0 0 0 rg BT 538.49 635.45 Td (voting ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 621.95 Td (shares ) Tj ET Q q 0 0 0 rg BT 101.51 621.95 Td (allowable ) Tj ET Q q 0 0 0 rg BT 141.54 621.95 Td (under ) Tj ET Q q 0 0 0 rg BT 167.06 621.95 Td (the ) Tj ET Q q 0 0 0 rg BT 182.07 621.95 Td (NCIB, ) Tj ET Q q 0 0 0 rg BT 208.57 621.95 Td (or ) Tj ET Q q 0 0 0 rg BT 219.08 621.95 Td (elects ) Tj ET Q q 0 0 0 rg BT 245.09 621.95 Td (to ) Tj ET Q q 0 0 0 rg BT 255.09 621.95 Td (terminate ) Tj ET Q q 0 0 0 rg BT 295.11 621.95 Td (the ) Tj ET Q q 0 0 0 rg BT 310.12 621.95 Td (NCIB. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 602.45 Td (During ) Tj ET Q q 0 0 0 rg BT 100.82 602.45 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 123.64 602.45 Td (2016, ) Tj ET Q q 0 0 0 rg BT 148.48 602.45 Td (the ) Tj ET Q q 0 0 0 rg BT 163.30 602.45 Td (Company ) Tj ET Q q 0 0 0 rg BT 204.13 602.45 Td (repurchased ) Tj ET Q q 0 0 0 rg BT 256.48 602.45 Td (9,319,875 ) Tj ET Q q 0 0 0 rg BT 298.83 602.45 Td (Class ) Tj ET Q q 0 0 0 rg BT 323.18 602.45 Td (A) Tj ET Q q 0 0 0 rg BT 328.69 602.45 Td ( ) Tj ET Q q 0 0 0 rg BT 331.00 602.45 Td (subordinate ) Tj ET Q q 0 0 0 rg BT 380.35 602.45 Td (voting ) Tj ET Q q 0 0 0 rg BT 406.68 602.45 Td (shares ) Tj ET Q q 0 0 0 rg BT 436.00 602.45 Td (for ) Tj ET Q q 0 0 0 rg BT 448.82 602.45 Td (approximately ) Tj ET Q q 0 0 0 rg BT 507.16 602.45 Td ($517.8 ) Tj ET Q q 0 0 0 rg BT 537.00 602.45 Td (million ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 588.95 Td (at ) Tj ET Q q 0 0 0 rg BT 82.66 588.95 Td (an ) Tj ET Q q 0 0 0 rg BT 95.82 588.95 Td (average ) Tj ET Q q 0 0 0 rg BT 131.49 588.95 Td (price ) Tj ET Q q 0 0 0 rg BT 154.15 588.95 Td (of ) Tj ET Q q 0 0 0 rg BT 164.81 588.95 Td ($55.56 ) Tj ET Q q 0 0 0 rg BT 195.49 588.95 Td (under ) Tj ET Q q 0 0 0 rg BT 221.66 588.95 Td (the ) Tj ET Q q 0 0 0 rg BT 237.32 588.95 Td (previous ) Tj ET Q q 0 0 0 rg BT 274.49 588.95 Td (and ) Tj ET Q q 0 0 0 rg BT 292.66 588.95 Td (current ) Tj ET Q q 0 0 0 rg BT 323.82 588.95 Td (NCIB. ) Tj ET Q q 0 0 0 rg BT 350.77 588.95 Td (The ) Tj ET Q q 0 0 0 rg BT 369.43 588.95 Td (repurchased ) Tj ET Q q 0 0 0 rg BT 422.61 588.95 Td (shares ) Tj ET Q q 0 0 0 rg BT 452.78 588.95 Td (included ) Tj ET Q q 0 0 0 rg BT 489.45 588.95 Td (7,1) Tj ET Q q 0 0 0 rg BT 501.30 588.95 Td (12,375 ) Tj ET Q q 0 0 0 rg BT 531.98 588.95 Td (Class ) Tj ET Q q 0 0 0 rg BT 557.01 588.95 Td (A) Tj ET Q q 0 0 0 rg BT 562.51 588.95 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 575.45 Td (subordinate ) Tj ET Q q 0 0 0 rg BT 120.67 575.45 Td (voting ) Tj ET Q q 0 0 0 rg BT 146.31 575.45 Td (shares ) Tj ET Q q 0 0 0 rg BT 174.96 575.45 Td (repurchased ) Tj ET Q q 0 0 0 rg BT 226.62 575.45 Td (from ) Tj ET Q q 0 0 0 rg BT 246.25 575.45 Td (Caisse ) Tj ET Q q 0 0 0 rg BT 275.39 575.45 Td (de ) Tj ET Q q 0 0 0 rg BT 287.04 575.45 Td (dpt ) Tj ET Q q 0 0 0 rg BT 311.19 575.45 Td (et ) Tj ET Q q 0 0 0 rg BT 320.33 575.45 Td (placement ) Tj ET Q q 0 0 0 rg BT 363.48 575.45 Td (du ) Tj ET Q q 0 0 0 rg BT 375.12 575.45 Td (Qubec ) Tj ET Q q 0 0 0 rg BT 408.28 575.45 Td (for ) Tj ET Q q 0 0 0 rg BT 420.41 575.45 Td (cash ) Tj ET Q q 0 0 0 rg BT 441.05 575.45 Td (consideration ) Tj ET Q q 0 0 0 rg BT 496.22 575.45 Td (of ) Tj ET Q q 0 0 0 rg BT 505.36 575.45 Td ($400.0 ) Tj ET Q q 0 0 0 rg BT 534.51 575.45 Td (million. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 561.95 Td (In ) Tj ET Q q 0 0 0 rg BT 81.93 561.95 Td (accordance ) Tj ET Q q 0 0 0 rg BT 130.88 561.95 Td (with ) Tj ET Q q 0 0 0 rg BT 149.30 561.95 Td (the ) Tj ET Q q 0 0 0 rg BT 164.07 561.95 Td (TSX ) Tj ET Q q 0 0 0 rg BT 184.00 561.95 Td (rules, ) Tj ET Q q 0 0 0 rg BT 208.42 561.95 Td (the ) Tj ET Q q 0 0 0 rg BT 223.36 561.95 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 270.80 561.95 Td (is ) Tj ET Q q 0 0 0 rg BT 279.72 561.95 Td (considered ) Tj ET Q q 0 0 0 rg BT 326.17 561.95 Td (in ) Tj ET Q q 0 0 0 rg BT 335.60 561.95 Td (the ) Tj ET Q q 0 0 0 rg BT 350.53 561.95 Td (annual ) Tj ET Q q 0 0 0 rg BT 379.97 561.95 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 422.93 561.95 Td (limit ) Tj ET Q q 0 0 0 rg BT 441.34 561.95 Td (that ) Tj ET Q q 0 0 0 rg BT 458.78 561.95 Td (the ) Tj ET Q q 0 0 0 rg BT 473.71 561.95 Td (Company ) Tj ET Q q 0 0 0 rg BT 514.64 561.95 Td (is ) Tj ET Q q 0 0 0 rg BT 523.56 561.95 Td (entitled ) Tj ET Q q 0 0 0 rg BT 555.01 561.95 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 548.45 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 120.48 548.45 Td (under ) Tj ET Q q 0 0 0 rg BT 146.95 548.45 Td (its ) Tj ET Q q 0 0 0 rg BT 159.40 548.45 Td (current ) Tj ET Q q 0 0 0 rg BT 190.86 548.45 Td (NCIB. ) Tj ET Q q 0 0 0 rg BT 217.63 548.45 Td (As ) Tj ET Q q 0 0 0 rg BT 231.59 548.45 Td (at ) Tj ET Q q 0 0 0 rg BT 242.54 548.45 Td (September ) Tj ET Q q 0 0 0 rg BT 290.02 548.45 Td (30, ) Tj ET Q q 0 0 0 rg BT 305.98 548.45 Td (2016, ) Tj ET Q q 0 0 0 rg BT 331.96 548.45 Td (the ) Tj ET Q q 0 0 0 rg BT 347.92 548.45 Td (Company ) Tj ET Q q 0 0 0 rg BT 389.89 548.45 Td (may ) Tj ET Q q 0 0 0 rg BT 410.34 548.45 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 458.82 548.45 Td (up ) Tj ET Q q 0 0 0 rg BT 472.28 548.45 Td (to ) Tj ET Q q 0 0 0 rg BT 483.24 548.45 Td (14,313,617 ) Tj ET Q q 0 0 0 rg BT 531.74 548.45 Td (Class ) Tj ET Q q 0 0 0 rg BT 557.01 548.45 Td (A) Tj ET Q q 0 0 0 rg BT 562.51 548.45 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 534.95 Td (subordinate ) Tj ET Q q 0 0 0 rg BT 121.54 534.95 Td (voting ) Tj ET Q q 0 0 0 rg BT 148.05 534.95 Td (shares ) Tj ET Q q 0 0 0 rg BT 177.57 534.95 Td (under ) Tj ET Q q 0 0 0 rg BT 203.08 534.95 Td (the ) Tj ET Q q 0 0 0 rg BT 218.10 534.95 Td (current ) Tj ET Q q 0 0 0 rg BT 248.61 534.95 Td (NCIB. ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 509.15 Td (2.3.3. Capital Stock and Options Outstanding) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 73.50 493.35 Td (The following table provides a summary of the Capital Stock and Options Outstanding as at ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 439.20 493.35 Td (November4, 2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 513.24 493.35 Td (:) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 72.50 482.85 379.00 -17.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 451.50 482.85 110.00 -17.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 451.50 465.85 110.00 -17.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 451.50 448.85 110.00 -17.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 451.50 431.85 110.00 -17.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 482.85 m 451.5 482.85 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451.5 482.85 m 561.5 482.85 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 414.85 m 451.5 414.85 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451.5 414.85 m 561.5 414.85 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 75.00 470.08 Td (Capital Stock and Options Outstanding) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 462.15 470.08 Td (As at November 4, 2016) Tj ET Q BT /F3 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 75.00 455.33 Td (ClassA subordinate voting shares) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 507.80 453.13 Td (272,103,193) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 438.33 Td (Class B multiple voting shares) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.25 436.13 Td (32,852,748) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 421.33 Td (Options to purchase ClassA subordinate voting shares) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.25 419.13 Td (16,546,269) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 76.50 392.55 Td (2.4. INVESTMENTS IN SUBSIDIARIES) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 76.50 373.05 Td (On ) Tj ET Q q 0 0 0 rg BT 89.84 373.05 Td (November ) Tj ET Q q 0 0 0 rg BT 132.69 373.05 Td (4, ) Tj ET Q q 0 0 0 rg BT 141.54 373.05 Td (2016, ) Tj ET Q q 0 0 0 rg BT 165.40 373.05 Td (the ) Tj ET Q q 0 0 0 rg BT 179.24 373.05 Td (Company ) Tj ET Q q 0 0 0 rg BT 219.10 373.05 Td (announced ) Tj ET Q q 0 0 0 rg BT 264.98 373.05 Td (the ) Tj ET Q q 0 0 0 rg BT 278.83 373.05 Td (closing ) Tj ET Q q 0 0 0 rg BT 308.18 373.05 Td (of ) Tj ET Q q 0 0 0 rg BT 317.02 373.05 Td (the ) Tj ET Q q 0 0 0 rg BT 330.87 373.05 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 374.73 373.05 Td (of ) Tj ET Q q 0 0 0 rg BT 383.58 373.05 Td (Collaborative ) Tj ET Q q 0 0 0 rg BT 437.44 373.05 Td (Consulting, ) Tj ET Q q 0 0 0 rg BT 483.80 373.05 Td (a ) Tj ET Q q 0 0 0 rg BT 490.15 373.05 Td (system ) Tj ET Q q 0 0 0 rg BT 519.99 373.05 Td (integration ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 76.50 359.55 Td (and ) Tj ET Q q 0 0 0 rg BT 94.37 359.55 Td (consulting ) Tj ET Q q 0 0 0 rg BT 137.75 359.55 Td (company ) Tj ET Q q 0 0 0 rg BT 177.12 359.55 Td (headquartered ) Tj ET Q q 0 0 0 rg BT 238.52 359.55 Td (in ) Tj ET Q q 0 0 0 rg BT 248.37 359.55 Td (Boston, ) Tj ET Q q 0 0 0 rg BT 281.75 359.55 Td (Massachusetts. ) Tj ET Q q 0 0 0 rg BT 347.12 359.55 Td (With ) Tj ET Q q 0 0 0 rg BT 367.98 359.55 Td (approximately ) Tj ET Q q 0 0 0 rg BT 426.85 359.55 Td (400 ) Tj ET Q q 0 0 0 rg BT 444.72 359.55 Td (professionals ) Tj ET Q q 0 0 0 rg BT 500.60 359.55 Td (and ) Tj ET Q q 0 0 0 rg BT 518.47 359.55 Td (annualized ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 76.50 346.05 Td (revenues ) Tj ET Q q 0 0 0 rg BT 115.75 346.05 Td (of ) Tj ET Q q 0 0 0 rg BT 125.48 346.05 Td (approximately ) Tj ET Q q 0 0 0 rg BT 183.74 346.05 Td (US$76.0M, ) Tj ET Q q 0 0 0 rg BT 230.99 346.05 Td (Collaborative ) Tj ET Q q 0 0 0 rg BT 285.74 346.05 Td (Consulting ) Tj ET Q q 0 0 0 rg BT 330.49 346.05 Td (will ) Tj ET Q q 0 0 0 rg BT 345.22 346.05 Td (enhance ) Tj ET Q q 0 0 0 rg BT 381.98 346.05 Td (and ) Tj ET Q q 0 0 0 rg BT 399.22 346.05 Td (accelerate ) Tj ET Q q 0 0 0 rg BT 442.97 346.05 Td (CGI) Tj ET Q q 0 0 0 rg BT 460.81 346.05 Td (s ) Tj ET Q q 0 0 0 rg BT 467.54 346.05 Td (position ) Tj ET Q q 0 0 0 rg BT 500.78 346.05 Td (as ) Tj ET Q q 0 0 0 rg BT 512.52 346.05 Td (a ) Tj ET Q q 0 0 0 rg BT 519.75 346.05 Td (provider ) Tj ET Q q 0 0 0 rg BT 554.49 346.05 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 76.50 332.55 Td (digital ) Tj ET Q q 0 0 0 rg BT 102.52 332.55 Td (transformation ) Tj ET Q q 0 0 0 rg BT 162.54 332.55 Td (services.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 76.50 313.05 Td (The ) Tj ET Q q 0 0 0 rg BT 94.51 313.05 Td (cash ) Tj ET Q q 0 0 0 rg BT 116.02 313.05 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 161.05 313.05 Td (of ) Tj ET Q q 0 0 0 rg BT 171.05 313.05 Td (all ) Tj ET Q q 0 0 0 rg BT 182.56 313.05 Td (unit ) Tj ET Q q 0 0 0 rg BT 199.57 313.05 Td (holder ) Tj ET Q q 0 0 0 rg BT 227.09 313.05 Td (positions ) Tj ET Q q 0 0 0 rg BT 265.11 313.05 Td (of ) Tj ET Q q 0 0 0 rg BT 275.12 313.05 Td (Collaborative ) Tj ET Q q 0 0 0 rg BT 330.14 313.05 Td (Consulting ) Tj ET Q q 0 0 0 rg BT 375.17 313.05 Td (was ) Tj ET Q q 0 0 0 rg BT 393.68 313.05 Td (completed ) Tj ET Q q 0 0 0 rg BT 437.70 313.05 Td (ef) Tj ET Q q 0 0 0 rg BT 445.04 313.05 Td (fective ) Tj ET Q q 0 0 0 rg BT 473.55 313.05 Td (November ) Tj ET Q q 0 0 0 rg BT 517.57 313.05 Td (3, ) Tj ET Q q 0 0 0 rg BT 527.58 313.05 Td (2016.) Tj ET Q endstream endobj 29 0 obj <> endobj 30 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (13) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 49.50 706.80 Td (3. ) Tj ET Q q 0 0 0 rg BT 72.00 706.80 Td (Financial Review) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 168.70 706.80 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.50 w 0 i [] 0 d 0 J 0 j 3 M 57.5 696.3 m 57.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 692.3 m 57.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 57.5 692.3 m 142.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 142.5 692.3 m 228.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 228.5 692.3 m 337.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 692.3 m 475.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 692.3 m 561.5 692.3 l s 0 0 0 RG /GS0 gs 1.50 w 0 i [] 0 d 0 J 0 j 3 M 57.5 692.3 m 57.5 688.3 l s BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 669.00 Td (3.1. ) Tj ET Q q 0 0 0 rg BT 91.01 669.00 Td (BOOKINGS ) Tj ET Q q 0 0 0 rg BT 142.18 669.00 Td (AND ) Tj ET Q q 0 0 0 rg BT 164.18 669.00 Td (BOOK-T) Tj ET Q q 0 0 0 rg BT 199.51 669.00 Td (O-BILL) Tj ET Q q 0 0 0 rg BT 229.34 669.00 Td ( ) Tj ET Q q 0 0 0 rg BT 231.84 669.00 Td (RA) Tj ET Q q 0 0 0 rg BT 244.17 669.00 Td (TIO) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 649.50 Td (Bookings ) Tj ET Q q 0 0 0 rg BT 110.76 649.50 Td (for ) Tj ET Q q 0 0 0 rg BT 123.00 649.50 Td (the ) Tj ET Q q 0 0 0 rg BT 137.25 649.50 Td (year ) Tj ET Q q 0 0 0 rg BT 156.49 649.50 Td (were ) Tj ET Q q 0 0 0 rg BT 177.73 649.50 Td ($1) Tj ET Q q 0 0 0 rg BT 187.08 649.50 Td (1.7 ) Tj ET Q q 0 0 0 rg BT 201.33 649.50 Td (billion ) Tj ET Q q 0 0 0 rg BT 226.08 649.50 Td (representing ) Tj ET Q q 0 0 0 rg BT 277.84 649.50 Td (a ) Tj ET Q q 0 0 0 rg BT 284.59 649.50 Td (book-to-bill ) Tj ET Q q 0 0 0 rg BT 330.34 649.50 Td (ratio ) Tj ET Q q 0 0 0 rg BT 349.59 649.50 Td (of ) Tj ET Q q 0 0 0 rg BT 358.83 649.50 Td (109.8%. ) Tj ET Q q 0 0 0 rg BT 393.48 649.50 Td (The ) Tj ET Q q 0 0 0 rg BT 410.72 649.50 Td (breakdown ) Tj ET Q q 0 0 0 rg BT 456.49 649.50 Td (of ) Tj ET Q q 0 0 0 rg BT 465.73 649.50 Td (the ) Tj ET Q q 0 0 0 rg BT 479.98 649.50 Td (new ) Tj ET Q q 0 0 0 rg BT 498.22 649.50 Td (bookings ) Tj ET Q q 0 0 0 rg BT 535.98 649.50 Td (signed ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 636.00 Td (during ) Tj ET Q q 0 0 0 rg BT 99.52 636.00 Td (the ) Tj ET Q q 0 0 0 rg BT 114.53 636.00 Td (year ) Tj ET Q q 0 0 0 rg BT 134.54 636.00 Td (is ) Tj ET Q q 0 0 0 rg BT 143.54 636.00 Td (as ) Tj ET Q q 0 0 0 rg BT 155.54 636.00 Td (follows:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 73.75 521.5 m 88.75 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 88.75 521.5 m 170.75 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 170.75 521.5 m 194.75 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 199.75 521.5 m 215.75 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 215.75 521.5 m 297.75 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.75 521.5 m 321.75 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.75 521.5 m 344.75 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.75 521.5 m 411.75 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.75 521.5 m 432.75 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.75 521.5 m 453.75 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453.75 521.5 m 535.75 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 535.75 521.5 m 559.75 521.5 l s BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET BT /F2 7.00 Tf ET q 0 0 0 rg BT 105.95 513.50 Td (Contract Type) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 234.90 513.50 Td (Service Type) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 362.95 513.50 Td (Segment) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 469.50 513.50 Td (Vertical Market) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 76.25 496.90 Td (A.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 91.25 496.90 Td (Extensions and) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 202.25 496.90 Td (A.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 218.25 496.90 Td (Systems integration and) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 329.25 496.90 Td (A.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 347.25 496.90 Td (U.S.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 418.20 496.90 Td (25) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 426.00 496.90 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 443.60 496.90 Td (A.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 456.25 496.90 Td (Government) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 545.20 496.90 Td (33) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 553.00 496.90 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 91.25 486.90 Td (renewals) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 180.20 486.90 Td (57) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 188.00 486.90 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 218.25 486.90 Td (consulting) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 302.20 486.90 Td (53%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 329.25 486.90 Td (B.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 347.25 486.90 Td (Canada) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 418.20 486.90 Td (21) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 426.00 486.90 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 443.60 486.90 Td (B.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 456.25 486.90 Td (MRD) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 545.20 486.90 Td (30) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 553.00 486.90 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 329.25 476.90 Td (C.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 347.25 476.90 Td (Nordics) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 418.20 476.90 Td (15) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 426.00 476.90 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 443.25 476.90 Td (C.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 456.25 476.90 Td (Financial services) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 545.20 476.90 Td (20) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 553.00 476.90 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 76.25 466.90 Td (B.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 91.25 466.90 Td (New business) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 180.20 466.90 Td (43) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 188.00 466.90 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 202.25 466.90 Td (B.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 218.25 466.90 Td (Management of IT and) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 329.25 466.90 Td (D.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 347.25 466.90 Td (France) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 418.20 466.90 Td (14) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 426.00 466.90 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 443.25 466.90 Td (D.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 456.25 466.90 Td (Telecommunications) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 218.25 456.90 Td (business functions) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 302.20 456.90 Td (47%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 329.25 456.90 Td (E.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 347.25 456.90 Td (U.K.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 418.20 456.90 Td (14) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 426.00 456.90 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 456.25 456.90 Td (& utilities) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 545.20 456.90 Td (11) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 553.00 456.90 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 329.25 446.90 Td (F.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 347.25 446.90 Td (ECS) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 418.20 446.90 Td (10) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 426.00 446.90 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 443.60 446.90 Td (E.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 456.25 446.90 Td (Health) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 549.10 446.90 Td (6) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 553.00 446.90 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 329.25 436.90 Td (G.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 347.25 436.90 Td (Asia Pacific) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 422.05 436.90 Td (1) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 426.00 436.90 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 413.10 Td (Information ) Tj ET Q q 0 0 0 rg BT 119.18 413.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 159.36 413.10 Td (our ) Tj ET Q q 0 0 0 rg BT 174.52 413.10 Td (bookings ) Tj ET Q q 0 0 0 rg BT 212.70 413.10 Td (is ) Tj ET Q q 0 0 0 rg BT 221.36 413.10 Td (a ) Tj ET Q q 0 0 0 rg BT 228.52 413.10 Td (key ) Tj ET Q q 0 0 0 rg BT 244.68 413.10 Td (indicator ) Tj ET Q q 0 0 0 rg BT 280.85 413.10 Td (of ) Tj ET Q q 0 0 0 rg BT 290.51 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 305.18 413.10 Td (volume ) Tj ET Q q 0 0 0 rg BT 336.34 413.10 Td (of ) Tj ET Q q 0 0 0 rg BT 346.00 413.10 Td (our ) Tj ET Q q 0 0 0 rg BT 361.17 413.10 Td (business ) Tj ET Q q 0 0 0 rg BT 398.84 413.10 Td (over ) Tj ET Q q 0 0 0 rg BT 418.50 413.10 Td (time. ) Tj ET Q q 0 0 0 rg BT 440.16 413.10 Td (However) Tj ET Q q 0 0 0 rg BT 475.18 413.10 Td (, ) Tj ET Q q 0 0 0 rg BT 479.83 413.10 Td (due ) Tj ET Q q 0 0 0 rg BT 497.00 413.10 Td (to ) Tj ET Q q 0 0 0 rg BT 506.66 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 521.33 413.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 547.49 413.10 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 399.60 Td (transition ) Tj ET Q q 0 0 0 rg BT 111.63 399.60 Td (period ) Tj ET Q q 0 0 0 rg BT 139.77 399.60 Td (associated ) Tj ET Q q 0 0 0 rg BT 185.91 399.60 Td (with ) Tj ET Q q 0 0 0 rg BT 205.03 399.60 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 254.68 399.60 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 296.81 399.60 Td (the ) Tj ET Q q 0 0 0 rg BT 312.43 399.60 Td (realization ) Tj ET Q q 0 0 0 rg BT 356.57 399.60 Td (of ) Tj ET Q q 0 0 0 rg BT 367.19 399.60 Td (revenue ) Tj ET Q q 0 0 0 rg BT 402.83 399.60 Td (related ) Tj ET Q q 0 0 0 rg BT 433.47 399.60 Td (to ) Tj ET Q q 0 0 0 rg BT 444.09 399.60 Td (these ) Tj ET Q q 0 0 0 rg BT 469.22 399.60 Td (bookings ) Tj ET Q q 0 0 0 rg BT 508.36 399.60 Td (may ) Tj ET Q q 0 0 0 rg BT 528.48 399.60 Td (fluctuate ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 386.10 Td (from ) Tj ET Q q 0 0 0 rg BT 92.86 386.10 Td (period ) Tj ET Q q 0 0 0 rg BT 120.73 386.10 Td (to ) Tj ET Q q 0 0 0 rg BT 131.09 386.10 Td (period. ) Tj ET Q q 0 0 0 rg BT 161.28 386.10 Td (The ) Tj ET Q q 0 0 0 rg BT 179.65 386.10 Td (values ) Tj ET Q q 0 0 0 rg BT 208.52 386.10 Td (initially ) Tj ET Q q 0 0 0 rg BT 238.39 386.10 Td (booked ) Tj ET Q q 0 0 0 rg BT 270.77 386.10 Td (may ) Tj ET Q q 0 0 0 rg BT 290.63 386.10 Td (change ) Tj ET Q q 0 0 0 rg BT 323.02 386.10 Td (over ) Tj ET Q q 0 0 0 rg BT 343.38 386.10 Td (time ) Tj ET Q q 0 0 0 rg BT 363.24 386.10 Td (due ) Tj ET Q q 0 0 0 rg BT 381.11 386.10 Td (to ) Tj ET Q q 0 0 0 rg BT 391.48 386.10 Td (their ) Tj ET Q q 0 0 0 rg BT 411.84 386.10 Td (variable ) Tj ET Q q 0 0 0 rg BT 446.21 386.10 Td (attributes, ) Tj ET Q q 0 0 0 rg BT 488.59 386.10 Td (including ) Tj ET Q q 0 0 0 rg BT 526.97 386.10 Td (demand-) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 372.60 Td (driven ) Tj ET Q q 0 0 0 rg BT 100.21 372.60 Td (usage, ) Tj ET Q q 0 0 0 rg BT 130.93 372.60 Td (modifications ) Tj ET Q q 0 0 0 rg BT 187.15 372.60 Td (in ) Tj ET Q q 0 0 0 rg BT 197.86 372.60 Td (the ) Tj ET Q q 0 0 0 rg BT 214.07 372.60 Td (scope ) Tj ET Q q 0 0 0 rg BT 241.78 372.60 Td (of ) Tj ET Q q 0 0 0 rg BT 252.98 372.60 Td (work ) Tj ET Q q 0 0 0 rg BT 275.68 372.60 Td (to ) Tj ET Q q 0 0 0 rg BT 286.89 372.60 Td (be ) Tj ET Q q 0 0 0 rg BT 300.60 372.60 Td (performed ) Tj ET Q q 0 0 0 rg BT 345.31 372.60 Td (caused ) Tj ET Q q 0 0 0 rg BT 378.03 372.60 Td (by ) Tj ET Q q 0 0 0 rg BT 391.24 372.60 Td (changes ) Tj ET Q q 0 0 0 rg BT 428.96 372.60 Td (in ) Tj ET Q q 0 0 0 rg BT 439.67 372.60 Td (client ) Tj ET Q q 0 0 0 rg BT 464.37 372.60 Td (requirements ) Tj ET Q q 0 0 0 rg BT 520.60 372.60 Td (as ) Tj ET Q q 0 0 0 rg BT 533.80 372.60 Td (well ) Tj ET Q q 0 0 0 rg BT 553.00 372.60 Td (as ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 359.10 Td (termination ) Tj ET Q q 0 0 0 rg BT 119.09 359.10 Td (clauses ) Tj ET Q q 0 0 0 rg BT 152.17 359.10 Td (at ) Tj ET Q q 0 0 0 rg BT 162.24 359.10 Td (the ) Tj ET Q q 0 0 0 rg BT 177.32 359.10 Td (option ) Tj ET Q q 0 0 0 rg BT 204.40 359.10 Td (of ) Tj ET Q q 0 0 0 rg BT 214.47 359.10 Td (the ) Tj ET Q q 0 0 0 rg BT 229.55 359.10 Td (client. ) Tj ET Q q 0 0 0 rg BT 255.12 359.10 Td (As ) Tj ET Q q 0 0 0 rg BT 268.19 359.10 Td (such, ) Tj ET Q q 0 0 0 rg BT 292.26 359.10 Td (information ) Tj ET Q q 0 0 0 rg BT 339.35 359.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 379.94 359.10 Td (our ) Tj ET Q q 0 0 0 rg BT 395.51 359.10 Td (bookings ) Tj ET Q q 0 0 0 rg BT 434.10 359.10 Td (is ) Tj ET Q q 0 0 0 rg BT 443.17 359.10 Td (not ) Tj ET Q q 0 0 0 rg BT 458.25 359.10 Td (comparable ) Tj ET Q q 0 0 0 rg BT 507.84 359.10 Td (to, ) Tj ET Q q 0 0 0 rg BT 520.41 359.10 Td (nor ) Tj ET Q q 0 0 0 rg BT 535.98 359.10 Td (should ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 345.60 Td (it ) Tj ET Q q 0 0 0 rg BT 79.61 345.60 Td (be ) Tj ET Q q 0 0 0 rg BT 92.73 345.60 Td (substituted ) Tj ET Q q 0 0 0 rg BT 139.37 345.60 Td (for ) Tj ET Q q 0 0 0 rg BT 152.98 345.60 Td (an ) Tj ET Q q 0 0 0 rg BT 166.10 345.60 Td (analysis ) Tj ET Q q 0 0 0 rg BT 201.73 345.60 Td (of ) Tj ET Q q 0 0 0 rg BT 212.34 345.60 Td (our ) Tj ET Q q 0 0 0 rg BT 228.46 345.60 Td (revenue; ) Tj ET Q q 0 0 0 rg BT 266.59 345.60 Td (it ) Tj ET Q q 0 0 0 rg BT 274.20 345.60 Td (is ) Tj ET Q q 0 0 0 rg BT 283.81 345.60 Td (instead ) Tj ET Q q 0 0 0 rg BT 315.94 345.60 Td (a ) Tj ET Q q 0 0 0 rg BT 324.06 345.60 Td (key ) Tj ET Q q 0 0 0 rg BT 341.18 345.60 Td (indicator ) Tj ET Q q 0 0 0 rg BT 378.30 345.60 Td (of ) Tj ET Q q 0 0 0 rg BT 388.92 345.60 Td (our ) Tj ET Q q 0 0 0 rg BT 405.04 345.60 Td (future ) Tj ET Q q 0 0 0 rg BT 431.16 345.60 Td (revenue ) Tj ET Q q 0 0 0 rg BT 466.79 345.60 Td (used ) Tj ET Q q 0 0 0 rg BT 489.42 345.60 Td (by ) Tj ET Q q 0 0 0 rg BT 502.04 345.60 Td (the ) Tj ET Q q 0 0 0 rg BT 517.66 345.60 Td (Company) Tj ET Q q 0 0 0 rg BT 558.01 345.60 Td (s ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 332.10 Td (management ) Tj ET Q q 0 0 0 rg BT 127.03 332.10 Td (to ) Tj ET Q q 0 0 0 rg BT 137.04 332.10 Td (measure ) Tj ET Q q 0 0 0 rg BT 174.56 332.10 Td (growth. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 312.60 Td (The ) Tj ET Q q 0 0 0 rg BT 90.01 312.60 Td (following ) Tj ET Q q 0 0 0 rg BT 127.53 312.60 Td (table ) Tj ET Q q 0 0 0 rg BT 149.55 312.60 Td (provides ) Tj ET Q q 0 0 0 rg BT 186.06 312.60 Td (a ) Tj ET Q q 0 0 0 rg BT 193.57 312.60 Td (summary ) Tj ET Q q 0 0 0 rg BT 233.07 312.60 Td (of ) Tj ET Q q 0 0 0 rg BT 243.08 312.60 Td (the ) Tj ET Q q 0 0 0 rg BT 258.09 312.60 Td (bookings ) Tj ET Q q 0 0 0 rg BT 296.62 312.60 Td (and ) Tj ET Q q 0 0 0 rg BT 314.13 312.60 Td (book-to-bill ) Tj ET Q q 0 0 0 rg BT 360.65 312.60 Td (ratio ) Tj ET Q q 0 0 0 rg BT 380.66 312.60 Td (by ) Tj ET Q q 0 0 0 rg BT 392.67 312.60 Td (segment:) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 71.75 296.10 221.00 -46.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 292.75 296.10 26.00 -46.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 318.75 296.10 117.00 -46.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 435.75 296.10 126.00 -46.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 71.75 250.10 221.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 292.75 250.10 26.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 318.75 250.10 117.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 435.75 250.10 126.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 318.75 237.10 117.00 -5.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 435.75 237.10 126.00 -5.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 318.75 232.10 117.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 435.75 232.10 126.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 318.75 219.10 117.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 435.75 219.10 126.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 318.75 206.10 117.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 435.75 206.10 126.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 318.75 193.10 117.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 435.75 193.10 126.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 318.75 180.10 117.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 435.75 180.10 126.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 318.75 167.10 117.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 435.75 167.10 126.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 318.75 154.10 117.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 435.75 154.10 126.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.75 296.1 m 292.75 296.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 292.75 296.1 m 318.75 296.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 318.75 296.1 m 435.75 296.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 435.75 296.1 m 561.75 296.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.75 141.10000000000002 m 292.75 141.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 292.75 141.10000000000002 m 318.75 141.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 318.75 141.10000000000002 m 435.75 141.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 435.75 141.10000000000002 m 561.75 141.10000000000002 l s BT /F5 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 74.25 271.08 Td (In thousands of CAD except for percentages) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 344.00 275.08 Td (Bookings for the year) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 325.75 267.08 Td (ended September 30, 2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 442.45 275.08 Td (Book-to-bill ratio for the year) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 451.75 267.08 Td (ended September 30, 2016) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 80.25 241.33 Td (Total CGI) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.50 241.38 Td (11,730,713) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.85 241.38 Td (109.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 548.10 241.33 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 80.25 223.33 Td (U.S.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 390.95 223.38 Td (2,978,558) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.85 223.38 Td (100.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 548.10 223.33 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 80.25 210.33 Td (Nordics) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 390.95 210.38 Td (1,736,860) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.85 210.38 Td (100.6) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 548.10 210.33 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 80.25 197.33 Td (Canada) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 390.95 197.38 Td (2,495,550) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.85 197.38 Td (151.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 548.10 197.33 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 80.25 184.33 Td (France) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 390.95 184.38 Td (1,584,578) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.85 184.38 Td (107.6) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 548.10 184.33 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 80.25 171.33 Td (U.K.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 390.95 171.38 Td (1,650,659) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.85 171.38 Td (105.6) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 548.10 171.33 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 80.25 158.33 Td (ECS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 390.95 158.38 Td (1,128,600) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.30 158.38 Td (96.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 548.10 158.33 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 80.25 145.33 Td (Asia Pacific) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 397.60 145.38 Td (155,908) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.85 145.38 Td (113.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 548.10 145.33 Td (%) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 93.10 0 0 98.00 451.65 525.02 cm /I3 Do Q /GS0 gs q 89.83 0 0 98.00 336.80 525.02 cm /I4 Do Q /GS0 gs q 93.18 0 0 98.00 216.15 525.02 cm /I5 Do Q /GS0 gs q 89.83 0 0 98.00 91.30 525.02 cm /I6 Do Q endstream endobj 31 0 obj <> endobj 32 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (14) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (3.2. ) Tj ET Q q 0 0 0 rg BT 91.01 708.95 Td (FOREIGN ) Tj ET Q q 0 0 0 rg BT 134.51 708.95 Td (EXCHANGE) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 689.45 Td (The ) Tj ET Q q 0 0 0 rg BT 89.67 689.45 Td (Company ) Tj ET Q q 0 0 0 rg BT 130.34 689.45 Td (operates ) Tj ET Q q 0 0 0 rg BT 167.53 689.45 Td (globally ) Tj ET Q q 0 0 0 rg BT 200.21 689.45 Td (and ) Tj ET Q q 0 0 0 rg BT 217.38 689.45 Td (is ) Tj ET Q q 0 0 0 rg BT 226.04 689.45 Td (exposed ) Tj ET Q q 0 0 0 rg BT 262.22 689.45 Td (to ) Tj ET Q q 0 0 0 rg BT 271.89 689.45 Td (changes ) Tj ET Q q 0 0 0 rg BT 308.07 689.45 Td (in ) Tj ET Q q 0 0 0 rg BT 317.24 689.45 Td (foreign ) Tj ET Q q 0 0 0 rg BT 346.92 689.45 Td (currency ) Tj ET Q q 0 0 0 rg BT 383.58 689.45 Td (rates. ) Tj ET Q q 0 0 0 rg BT 407.82 689.45 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 453.68 689.45 Td (, ) Tj ET Q q 0 0 0 rg BT 458.33 689.45 Td (as ) Tj ET Q q 0 0 0 rg BT 470.00 689.45 Td (prescribed ) Tj ET Q q 0 0 0 rg BT 514.18 689.45 Td (by ) Tj ET Q q 0 0 0 rg BT 525.84 689.45 Td (IFRS, ) Tj ET Q q 0 0 0 rg BT 551.00 689.45 Td (we ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 675.95 Td (value ) Tj ET Q q 0 0 0 rg BT 95.92 675.95 Td (assets, ) Tj ET Q q 0 0 0 rg BT 126.84 675.95 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 163.26 675.95 Td (and ) Tj ET Q q 0 0 0 rg BT 180.69 675.95 Td (transactions ) Tj ET Q q 0 0 0 rg BT 231.62 675.95 Td (that ) Tj ET Q q 0 0 0 rg BT 249.04 675.95 Td (are ) Tj ET Q q 0 0 0 rg BT 264.46 675.95 Td (measured ) Tj ET Q q 0 0 0 rg BT 306.88 675.95 Td (in ) Tj ET Q q 0 0 0 rg BT 316.30 675.95 Td (foreign ) Tj ET Q q 0 0 0 rg BT 346.22 675.95 Td (currencies ) Tj ET Q q 0 0 0 rg BT 390.15 675.95 Td (using ) Tj ET Q q 0 0 0 rg BT 414.07 675.95 Td (various ) Tj ET Q q 0 0 0 rg BT 445.49 675.95 Td (exchange ) Tj ET Q q 0 0 0 rg BT 486.93 675.95 Td (rates. ) Tj ET Q q 0 0 0 rg BT 511.85 675.95 Td (W) Tj ET Q q 0 0 0 rg BT 520.18 675.95 Td (e ) Tj ET Q q 0 0 0 rg BT 527.59 675.95 Td (report ) Tj ET Q q 0 0 0 rg BT 553.51 675.95 Td (all ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 662.45 Td (dollar ) Tj ET Q q 0 0 0 rg BT 96.51 662.45 Td (amounts ) Tj ET Q q 0 0 0 rg BT 133.53 662.45 Td (in ) Tj ET Q q 0 0 0 rg BT 143.04 662.45 Td (Canadian ) Tj ET Q q 0 0 0 rg BT 184.07 662.45 Td (dollars.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 73.50 637.65 Td (Closing ) Tj ET Q q 0 0 0 rg BT 106.02 637.65 Td (foreign ) Tj ET Q q 0 0 0 rg BT 136.03 637.65 Td (exchange ) Tj ET Q q 0 0 0 rg BT 177.57 637.65 Td (rates) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 72.50 627.15 292.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 364.50 627.15 66.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 430.50 627.15 66.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 496.50 627.15 66.00 -26.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 364.50 601.15 66.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 364.50 588.15 66.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 364.50 575.15 66.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 364.50 562.15 66.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 364.50 549.15 66.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 364.50 536.15 66.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 627.15 m 364.5 627.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 364.5 627.15 m 430.5 627.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 430.5 627.15 m 496.5 627.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 496.5 627.15 m 562.5 627.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 523.15 m 364.5 523.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 364.5 523.15 m 430.5 523.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 430.5 523.15 m 496.5 523.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 496.5 523.15 m 562.5 523.15 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 75.00 605.38 Td (As at September 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 388.10 605.38 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 454.10 605.38 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 508.00 605.38 Td (Change) Tj ET Q BT /F3 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 75.00 592.38 Td (U.S. dollar) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.75 592.38 Td (1.3121) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 447.75 592.38 Td (1.3399) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.20 592.38 Td (\(2.1%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 579.38 Td (Euro) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.75 579.38 Td (1.4747) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 447.75 579.38 Td (1.4958) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.20 579.38 Td (\(1.4%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 566.38 Td (Indian rupee) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.75 566.38 Td (0.0197) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 447.75 566.38 Td (0.0205) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.20 566.38 Td (\(3.9%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 553.38 Td (British pound) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.75 553.38 Td (1.7076) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 447.75 553.38 Td (2.0252) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.95 553.38 Td (\(15.7%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 540.38 Td (Swedish krona) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.75 540.38 Td (0.1531) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 447.75 540.38 Td (0.1596) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.20 540.38 Td (\(4.1%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 527.38 Td (Australian dollar) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.75 527.38 Td (1.0061) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 447.75 527.38 Td (0.9405) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.85 527.38 Td (7.0%) Tj ET Q BT /F1 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 73.50 498.85 Td (A) Tj ET Q q 0 0 0 rg BT 79.34 498.85 Td (verage foreign exchange rates) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 72.50 488.35 293.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 365.50 488.35 65.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 430.50 488.35 66.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 496.50 488.35 66.00 -26.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 365.50 462.35 65.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 365.50 449.35 65.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 365.50 436.35 65.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 365.50 423.35 65.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 365.50 410.35 65.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 365.50 397.35 65.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 488.35 m 365.5 488.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 365.5 488.35 m 430.5 488.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 430.5 488.35 m 496.5 488.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 496.5 488.35 m 562.5 488.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 384.35 m 365.5 384.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 365.5 384.35 m 430.5 384.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 430.5 384.35 m 496.5 384.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 496.5 384.35 m 562.5 384.35 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 75.00 466.58 Td (For the years ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 388.60 466.58 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 454.10 466.58 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 508.00 466.58 Td (Change) Tj ET Q BT /F3 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 75.00 453.58 Td (U.S. dollar) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.25 453.58 Td (1.3255) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 447.75 453.58 Td (1.2294) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.85 453.58 Td (7.8%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 440.58 Td (Euro) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.25 440.58 Td (1.4722) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 447.75 440.58 Td (1.4081) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.85 440.58 Td (4.6%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 427.58 Td (Indian rupee) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.25 427.58 Td (0.0198) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 447.75 427.58 Td (0.0195) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.85 427.58 Td (1.5%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 414.58 Td (British pound) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.25 414.58 Td (1.8876) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 447.75 414.58 Td (1.8983) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.20 414.58 Td (\(0.6%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 401.58 Td (Swedish krona) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.25 401.58 Td (0.1574) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 447.75 401.58 Td (0.1506) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.85 401.58 Td (4.5%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 388.58 Td (Australian dollar) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.25 388.58 Td (0.9760) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 447.75 388.58 Td (0.9634) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.85 388.58 Td (1.3%) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 33 0 obj <> endobj 34 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (15) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (3.3. REVENUE DISTRIBUTION) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 73.50 693.15 Td (The following charts provide additional information regarding our revenue mix for the year:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 73 576.65 m 92 576.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 92 576.65 m 112 576.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 112 576.65 m 217 576.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 576.65 m 238 576.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238 576.65 m 259 576.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264 576.65 m 283 576.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283 576.65 m 391 576.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 576.65 m 412 576.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 576.65 m 436 576.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 576.65 m 539 576.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 539 576.65 m 562 576.65 l s BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET BT /F2 7.00 Tf ET q 0 0 0 rg BT 144.15 568.65 Td (Service Type) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 308.30 568.65 Td (Client Geography) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 464.25 568.65 Td (Vertical Market) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 75.50 552.05 Td (A.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 94.50 552.05 Td (Management of IT and business functions) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 240.50 552.05 Td (54%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 266.50 552.05 Td (A.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 285.50 552.05 Td (U.S.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 397.45 552.05 Td (28) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 405.25 552.05 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 419.50 552.05 Td (A.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 438.50 552.05 Td (Government) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 547.45 552.05 Td (34) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 555.25 552.05 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 94.50 542.05 Td (1.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 114.50 542.05 Td (IT services) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 219.50 542.05 Td (44%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 266.50 542.05 Td (B.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 285.50 542.05 Td (Canada) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 397.45 542.05 Td (15) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 405.25 542.05 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 419.50 542.05 Td (B.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 438.50 542.05 Td (MRD) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 547.45 542.05 Td (23) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 555.25 542.05 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 94.50 532.05 Td (2.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 114.50 532.05 Td (Business process services) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 219.50 532.05 Td (10%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 266.50 532.05 Td (C.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 285.50 532.05 Td (U.K.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 397.45 532.05 Td (15) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 405.25 532.05 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 419.50 532.05 Td (C.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 438.50 532.05 Td (Financial services) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 547.45 532.05 Td (21) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 555.25 532.05 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 266.50 522.05 Td (D.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 285.50 522.05 Td (France) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 397.45 522.05 Td (13) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 405.25 522.05 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 419.50 522.05 Td (D.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 438.50 522.05 Td (Telecommunications & utilities) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 547.45 522.05 Td (15) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 555.25 522.05 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 75.50 512.05 Td (B.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 94.50 512.05 Td (Systems integration and consulting) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 240.50 512.05 Td (46%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 266.50 512.05 Td (E.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 285.50 512.05 Td (Sweden) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 401.30 512.05 Td (8) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 405.25 512.05 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 419.50 512.05 Td (E.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 438.50 512.05 Td (Health) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 551.35 512.05 Td (7) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 555.25 512.05 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 266.50 502.05 Td (F.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 285.50 502.05 Td (Finland) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 401.30 502.05 Td (6) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 405.25 502.05 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 266.50 492.05 Td (G.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 285.50 492.05 Td (Rest of the world) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 397.45 492.05 Td (15) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 405.25 492.05 Td (%) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 109.70 0 0 95.00 434.10 580.17 cm /I7 Do Q /GS0 gs q 96.70 0 0 95.00 289.15 580.17 cm /I8 Do Q /GS0 gs q 153.81 0 0 95.00 88.55 580.17 cm /I9 Do Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 464.35 Td (3.3.1. ) Tj ET Q q 0 0 0 rg BT 98.52 464.35 Td (Client ) Tj ET Q q 0 0 0 rg BT 126.02 464.35 Td (Concentration) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 447.85 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 94.74 447.85 Td (guidance ) Tj ET Q q 0 0 0 rg BT 133.51 447.85 Td (on ) Tj ET Q q 0 0 0 rg BT 145.75 447.85 Td (segment ) Tj ET Q q 0 0 0 rg BT 182.51 447.85 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 229.76 447.85 Td (defines ) Tj ET Q q 0 0 0 rg BT 261.02 447.85 Td (a ) Tj ET Q q 0 0 0 rg BT 268.26 447.85 Td (single ) Tj ET Q q 0 0 0 rg BT 294.02 447.85 Td (customer ) Tj ET Q q 0 0 0 rg BT 333.26 447.85 Td (as ) Tj ET Q q 0 0 0 rg BT 345.01 447.85 Td (a ) Tj ET Q q 0 0 0 rg BT 352.25 447.85 Td (group ) Tj ET Q q 0 0 0 rg BT 377.50 447.85 Td (of ) Tj ET Q q 0 0 0 rg BT 387.25 447.85 Td (entities ) Tj ET Q q 0 0 0 rg BT 418.00 447.85 Td (that ) Tj ET Q q 0 0 0 rg BT 435.25 447.85 Td (are ) Tj ET Q q 0 0 0 rg BT 450.49 447.85 Td (known ) Tj ET Q q 0 0 0 rg BT 478.74 447.85 Td (to ) Tj ET Q q 0 0 0 rg BT 488.49 447.85 Td (the ) Tj ET Q q 0 0 0 rg BT 503.24 447.85 Td (reporting ) Tj ET Q q 0 0 0 rg BT 540.99 447.85 Td (entity ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 434.35 Td (to ) Tj ET Q q 0 0 0 rg BT 82.72 434.35 Td (be ) Tj ET Q q 0 0 0 rg BT 95.95 434.35 Td (under ) Tj ET Q q 0 0 0 rg BT 122.18 434.35 Td (common ) Tj ET Q q 0 0 0 rg BT 159.91 434.35 Td (control. ) Tj ET Q q 0 0 0 rg BT 192.00 434.35 Td (As ) Tj ET Q q 0 0 0 rg BT 205.72 434.35 Td (a ) Tj ET Q q 0 0 0 rg BT 213.94 434.35 Td (consequence, ) Tj ET Q q 0 0 0 rg BT 273.20 434.35 Td (our ) Tj ET Q q 0 0 0 rg BT 289.42 434.35 Td (work ) Tj ET Q q 0 0 0 rg BT 311.64 434.35 Td (for ) Tj ET Q q 0 0 0 rg BT 325.36 434.35 Td (the ) Tj ET Q q 0 0 0 rg BT 341.09 434.35 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 361.81 434.35 Td (federal ) Tj ET Q q 0 0 0 rg BT 392.54 434.35 Td (government ) Tj ET Q q 0 0 0 rg BT 443.28 434.35 Td (including ) Tj ET Q q 0 0 0 rg BT 482.02 434.35 Td (its ) Tj ET Q q 0 0 0 rg BT 494.24 434.35 Td (various ) Tj ET Q q 0 0 0 rg BT 526.47 434.35 Td (agencies ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 420.85 Td (represented ) Tj ET Q q 0 0 0 rg BT 122.53 420.85 Td (13.2% ) Tj ET Q q 0 0 0 rg BT 150.55 420.85 Td (of ) Tj ET Q q 0 0 0 rg BT 160.56 420.85 Td (our ) Tj ET Q q 0 0 0 rg BT 176.07 420.85 Td (revenue ) Tj ET Q q 0 0 0 rg BT 211.09 420.85 Td (for ) Tj ET Q q 0 0 0 rg BT 224.09 420.85 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 247.10 420.85 Td (2016 ) Tj ET Q q 0 0 0 rg BT 269.62 420.85 Td (as ) Tj ET Q q 0 0 0 rg BT 281.63 420.85 Td (compared ) Tj ET Q q 0 0 0 rg BT 324.15 420.85 Td (to ) Tj ET Q q 0 0 0 rg BT 334.16 420.85 Td (14.0% ) Tj ET Q q 0 0 0 rg BT 362.18 420.85 Td (in ) Tj ET Q q 0 0 0 rg BT 371.68 420.85 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 394.69 420.85 Td (2015.) Tj ET Q endstream endobj 35 0 obj <> endobj 36 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (16) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 67.50 708.95 Td (3.4. ) Tj ET Q q 0 0 0 rg BT 85.01 708.95 Td (REVENUE ) Tj ET Q q 0 0 0 rg BT 131.02 708.95 Td (V) Tj ET Q q 0 0 0 rg BT 136.36 708.95 Td (ARIA) Tj ET Q q 0 0 0 rg BT 157.69 708.95 Td (TION ) Tj ET Q q 0 0 0 rg BT 181.35 708.95 Td (AND ) Tj ET Q q 0 0 0 rg BT 203.35 708.95 Td (REVENUE ) Tj ET Q q 0 0 0 rg BT 249.36 708.95 Td (BY) Tj ET Q q 0 0 0 rg BT 261.70 708.95 Td ( ) Tj ET Q q 0 0 0 rg BT 264.20 708.95 Td (SEGMENT) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 67.50 689.45 Td (Our ) Tj ET Q q 0 0 0 rg BT 85.00 689.45 Td (seven ) Tj ET Q q 0 0 0 rg BT 111.52 689.45 Td (segments ) Tj ET Q q 0 0 0 rg BT 153.04 689.45 Td (are ) Tj ET Q q 0 0 0 rg BT 168.55 689.45 Td (reported ) Tj ET Q q 0 0 0 rg BT 204.57 689.45 Td (based ) Tj ET Q q 0 0 0 rg BT 231.59 689.45 Td (on ) Tj ET Q q 0 0 0 rg BT 244.10 689.45 Td (where ) Tj ET Q q 0 0 0 rg BT 271.12 689.45 Td (the ) Tj ET Q q 0 0 0 rg BT 286.13 689.45 Td (client's ) Tj ET Q q 0 0 0 rg BT 315.86 689.45 Td (work ) Tj ET Q q 0 0 0 rg BT 337.36 689.45 Td (is ) Tj ET Q q 0 0 0 rg BT 346.36 689.45 Td (delivered ) Tj ET Q q 0 0 0 rg BT 385.38 689.45 Td (from ) Tj ET Q q 0 0 0 rg BT 405.88 689.45 Td (- ) Tj ET Q q 0 0 0 rg BT 411.38 689.45 Td (our ) Tj ET Q q 0 0 0 rg BT 426.89 689.45 Td (geographic ) Tj ET Q q 0 0 0 rg BT 473.92 689.45 Td (delivery ) Tj ET Q q 0 0 0 rg BT 507.44 689.45 Td (model.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 67.50 669.95 Td (The ) Tj ET Q q 0 0 0 rg BT 86.02 669.95 Td (following ) Tj ET Q q 0 0 0 rg BT 124.06 669.95 Td (table ) Tj ET Q q 0 0 0 rg BT 146.59 669.95 Td (provides ) Tj ET Q q 0 0 0 rg BT 183.62 669.95 Td (a ) Tj ET Q q 0 0 0 rg BT 191.64 669.95 Td (summary ) Tj ET Q q 0 0 0 rg BT 231.66 669.95 Td (of ) Tj ET Q q 0 0 0 rg BT 242.18 669.95 Td (the ) Tj ET Q q 0 0 0 rg BT 257.70 669.95 Td (year-over-year ) Tj ET Q q 0 0 0 rg BT 319.24 669.95 Td (changes ) Tj ET Q q 0 0 0 rg BT 356.28 669.95 Td (in ) Tj ET Q q 0 0 0 rg BT 366.30 669.95 Td (our ) Tj ET Q q 0 0 0 rg BT 382.32 669.95 Td (revenue, ) Tj ET Q q 0 0 0 rg BT 420.36 669.95 Td (in ) Tj ET Q q 0 0 0 rg BT 430.38 669.95 Td (total ) Tj ET Q q 0 0 0 rg BT 450.40 669.95 Td (and ) Tj ET Q q 0 0 0 rg BT 468.44 669.95 Td (by ) Tj ET Q q 0 0 0 rg BT 480.96 669.95 Td (segment, ) Tj ET Q q 0 0 0 rg BT 520.99 669.95 Td (separately ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 67.50 656.45 Td (showing ) Tj ET Q q 0 0 0 rg BT 102.46 656.45 Td (the ) Tj ET Q q 0 0 0 rg BT 116.90 656.45 Td (impacts ) Tj ET Q q 0 0 0 rg BT 149.85 656.45 Td (of ) Tj ET Q q 0 0 0 rg BT 159.29 656.45 Td (foreign ) Tj ET Q q 0 0 0 rg BT 188.75 656.45 Td (currency ) Tj ET Q q 0 0 0 rg BT 225.19 656.45 Td (exchange ) Tj ET Q q 0 0 0 rg BT 266.16 656.45 Td (rate ) Tj ET Q q 0 0 0 rg BT 283.61 656.45 Td (variations ) Tj ET Q q 0 0 0 rg BT 324.06 656.45 Td (between ) Tj ET Q q 0 0 0 rg BT 360.02 656.45 Td (fiscal ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 382.47 656.45 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 402.49 656.45 Td ( ) Tj ET Q q 0 0 0 rg BT 404.42 656.45 Td (and ) Tj ET Q q 0 0 0 rg BT 421.38 656.45 Td (fiscal ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 443.82 656.45 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 463.84 656.45 Td (. ) Tj ET Q q 0 0 0 rg BT 468.15 656.45 Td (The ) Tj ET Q q 0 0 0 rg BT 485.60 656.45 Td (fiscal ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.04 656.45 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.06 656.45 Td ( ) Tj ET Q q 0 0 0 rg BT 530.00 656.45 Td (revenue ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 67.50 642.95 Td (by ) Tj ET Q q 0 0 0 rg BT 80.31 642.95 Td (segment ) Tj ET Q q 0 0 0 rg BT 118.13 642.95 Td (was ) Tj ET Q q 0 0 0 rg BT 137.44 642.95 Td (recorded ) Tj ET Q q 0 0 0 rg BT 176.26 642.95 Td (reflecting ) Tj ET Q q 0 0 0 rg BT 216.08 642.95 Td (the ) Tj ET Q q 0 0 0 rg BT 231.90 642.95 Td (actual ) Tj ET Q q 0 0 0 rg BT 259.22 642.95 Td (foreign ) Tj ET Q q 0 0 0 rg BT 290.04 642.95 Td (exchange ) Tj ET Q q 0 0 0 rg BT 332.37 642.95 Td (rates ) Tj ET Q q 0 0 0 rg BT 355.68 642.95 Td (for ) Tj ET Q q 0 0 0 rg BT 369.49 642.95 Td (that ) Tj ET Q q 0 0 0 rg BT 387.80 642.95 Td (period. ) Tj ET Q q 0 0 0 rg BT 418.41 642.95 Td (The ) Tj ET Q q 0 0 0 rg BT 437.22 642.95 Td (foreign ) Tj ET Q q 0 0 0 rg BT 468.04 642.95 Td (exchange ) Tj ET Q q 0 0 0 rg BT 510.38 642.95 Td (impact ) Tj ET Q q 0 0 0 rg BT 540.19 642.95 Td (is ) Tj ET Q q 0 0 0 rg BT 549.99 642.95 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 67.50 629.45 Td (dif) Tj ET Q q 0 0 0 rg BT 76.84 629.45 Td (ference ) Tj ET Q q 0 0 0 rg BT 110.04 629.45 Td (between ) Tj ET Q q 0 0 0 rg BT 147.25 629.45 Td (the ) Tj ET Q q 0 0 0 rg BT 162.94 629.45 Td (current ) Tj ET Q q 0 0 0 rg BT 194.13 629.45 Td (period) Tj ET Q q 0 0 0 rg BT 220.99 629.45 Td (s ) Tj ET Q q 0 0 0 rg BT 228.67 629.45 Td (actual ) Tj ET Q q 0 0 0 rg BT 255.87 629.45 Td (results ) Tj ET Q q 0 0 0 rg BT 285.55 629.45 Td (and ) Tj ET Q q 0 0 0 rg BT 303.75 629.45 Td (the ) Tj ET Q q 0 0 0 rg BT 319.44 629.45 Td (same ) Tj ET Q q 0 0 0 rg BT 344.63 629.45 Td (period) Tj ET Q q 0 0 0 rg BT 371.49 629.45 Td (s ) Tj ET Q q 0 0 0 rg BT 379.17 629.45 Td (results ) Tj ET Q q 0 0 0 rg BT 408.86 629.45 Td (converted ) Tj ET Q q 0 0 0 rg BT 451.56 629.45 Td (with ) Tj ET Q q 0 0 0 rg BT 470.75 629.45 Td (the ) Tj ET Q q 0 0 0 rg BT 486.44 629.45 Td (prior ) Tj ET Q q 0 0 0 rg BT 507.62 629.45 Td (year) Tj ET Q q 0 0 0 rg BT 525.46 629.45 Td () Tj ET Q q 0 0 0 rg BT 527.30 629.45 Td (s ) Tj ET Q q 0 0 0 rg BT 534.98 629.45 Td (foreign ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 67.50 615.95 Td (exchange ) Tj ET Q q 0 0 0 rg BT 109.03 615.95 Td (rate.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 125.95 Td ( ) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 64.00 605.45 209.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 273.00 605.45 72.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 345.00 605.45 72.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 417.00 605.45 144.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 417.00 592.45 72.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 489.00 592.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 579.45 72.00 -10.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 64.00 569.45 209.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 273.00 569.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 345.00 569.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 417.00 569.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 489.00 569.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 556.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 543.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 64.00 530.45 209.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 273.00 530.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 345.00 530.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 417.00 530.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 489.00 530.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 517.45 72.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 513.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 500.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 487.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 64.00 474.45 209.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 273.00 474.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 345.00 474.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 417.00 474.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 489.00 474.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 461.45 72.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 457.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 444.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 431.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 64.00 418.45 209.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 273.00 418.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 345.00 418.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 417.00 418.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 489.00 418.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 405.45 72.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 401.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 388.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 375.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 64.00 362.45 209.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 273.00 362.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 345.00 362.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 417.00 362.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 489.00 362.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 349.45 72.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 345.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 332.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 319.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 64.00 306.45 209.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 273.00 306.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 345.00 306.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 417.00 306.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 489.00 306.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 293.45 72.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 289.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 276.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 263.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 64.00 250.45 209.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 273.00 250.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 345.00 250.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 417.00 250.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 489.00 250.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 237.45 72.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 233.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 220.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 207.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 64.00 194.45 209.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 273.00 194.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 345.00 194.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 417.00 194.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 489.00 194.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 181.45 72.00 -4.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 177.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 164.45 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 273.00 151.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 64.00 138.45 209.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 273.00 138.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 345.00 138.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 417.00 138.45 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 489.00 138.45 72.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 64 605.45 m 273 605.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 273 605.45 m 345 605.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 345 605.45 m 417 605.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417 605.45 m 489 605.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 489 605.45 m 561 605.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 64 125.45000000000005 m 273 125.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 273 125.45000000000005 m 345 125.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 345 125.45000000000005 m 417 125.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417 125.45000000000005 m 489 125.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 489 125.45000000000005 m 561 125.45000000000005 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 66.50 583.68 Td (For the years ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 317.70 583.68 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 389.70 583.68 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 485.50 596.68 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 467.50 583.93 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 539.50 583.68 Td (%) Tj ET Q BT /F4 7.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 66.50 571.85 Td (In thousands of CAD except for percentages) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 66.50 560.68 Td (Total CGI revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 297.30 560.73 Td (10,683,264) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 369.30 560.73 Td (10,287,096) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.40 560.68 Td (396,168) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.55 560.68 Td (3.9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.70 560.68 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.50 547.68 Td (Variation prior to foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 320.20 547.68 Td (0.2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 331.35 547.68 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.50 534.68 Td (Foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 320.20 534.68 Td (3.7) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 331.35 534.68 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 66.50 521.68 Td (Variation over previous period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 320.20 521.68 Td (3.9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 331.35 521.68 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 66.50 504.68 Td (U.S.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.50 491.68 Td (Revenue prior to foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.75 491.73 Td (2,673,658) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 373.75 491.73 Td (2,813,127) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.75 491.73 Td (\(139,469) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 481.35 491.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.90 491.68 Td (\(5.0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.70 491.68 Td (%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.50 478.68 Td (Foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 308.40 478.73 Td (205,003) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 66.50 465.68 Td (U.S. revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.75 465.73 Td (2,878,661) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 373.75 465.73 Td (2,813,127) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 456.80 465.68 Td (65,534) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.55 465.68 Td (2.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.70 465.68 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 66.50 448.68 Td (Nordics) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.50 435.68 Td (Revenue prior to foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.75 435.73 Td (1,583,199) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 373.75 435.73 Td (1,638,985) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.20 435.68 Td (\(55,786) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 481.35 435.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.90 435.68 Td (\(3.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.70 435.68 Td (%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.50 422.68 Td (Foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.85 422.73 Td (68,123) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 66.50 409.68 Td (Nordics revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.75 409.73 Td (1,651,322) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 373.75 409.73 Td (1,638,985) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 456.80 409.68 Td (12,337) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.55 409.68 Td (0.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.70 409.68 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 66.50 392.68 Td (Canada) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.50 379.68 Td (Revenue prior to foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.75 379.73 Td (1,535,498) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 373.75 379.73 Td (1,533,719) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.30 379.73 Td (1,779) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.55 379.68 Td (0.1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.70 379.68 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.50 366.68 Td (Foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.00 366.73 Td (833) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 66.50 353.68 Td (Canada revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.75 353.73 Td (1,536,331) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 373.75 353.73 Td (1,533,719) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.30 353.73 Td (2,612) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.55 353.68 Td (0.2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.70 353.68 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 66.50 336.68 Td (France) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.50 323.68 Td (Revenue prior to foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.75 323.73 Td (1,381,004) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 373.75 323.73 Td (1,283,387) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 456.80 323.68 Td (97,617) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.55 323.68 Td (7.6) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.70 323.68 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.50 310.68 Td (Foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.85 310.73 Td (63,962) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 66.50 297.68 Td (France revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.75 297.73 Td (1,444,966) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 373.75 297.73 Td (1,283,387) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.40 297.68 Td (161,579) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.10 297.73 Td (12.6) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.70 297.68 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 66.50 280.68 Td (U.K.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.50 267.68 Td (Revenue prior to foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.75 267.73 Td (1,445,329) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 373.75 267.73 Td (1,331,287) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.40 267.68 Td (114,042) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.55 267.68 Td (8.6) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.70 267.68 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.50 254.68 Td (Foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 310.20 254.68 Td (\(13,590) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 337.35 254.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 66.50 241.68 Td (U.K. revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.75 241.73 Td (1,431,739) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 373.75 241.73 Td (1,331,287) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.40 241.68 Td (100,452) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.55 241.68 Td (7.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.70 241.68 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 66.50 224.68 Td (ECS) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.50 211.68 Td (Revenue prior to foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.75 211.73 Td (1,152,070) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 373.75 211.73 Td (1,211,228) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.20 211.68 Td (\(59,158) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 481.35 211.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.90 211.68 Td (\(4.9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.70 211.68 Td (%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.50 198.68 Td (Foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.85 198.73 Td (46,784) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 66.50 185.68 Td (ECS revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.75 185.73 Td (1,198,854) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 373.75 185.73 Td (1,211,228) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.20 185.68 Td (\(12,374) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 481.35 185.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.90 185.68 Td (\(1.0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.70 185.68 Td (%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 66.50 168.68 Td (Asia Pacific) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.50 155.68 Td (Revenue prior to foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 308.40 155.73 Td (533,059) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 380.40 155.68 Td (475,363) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 456.80 155.68 Td (57,696) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.10 155.73 Td (12.1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.70 155.68 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.50 142.68 Td (Foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 317.30 142.73 Td (8,332) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 66.50 129.68 Td (Asia Pacific revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 308.40 129.73 Td (541,391) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 380.40 129.68 Td (475,363) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 456.80 129.68 Td (66,028) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.10 129.73 Td (13.9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.70 129.68 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 67.50 106.45 Td (For ) Tj ET Q q 0 0 0 rg BT 83.29 106.45 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 98.08 106.45 Td (year ) Tj ET Q q 0 0 0 rg BT 117.88 106.45 Td (ended ) Tj ET Q q 0 0 0 rg BT 145.19 106.45 Td (September ) Tj ET Q q 0 0 0 rg BT 191.50 106.45 Td (30, ) Tj ET Q q 0 0 0 rg BT 206.30 106.45 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 226.32 106.45 Td ( ) Tj ET Q q 0 0 0 rg BT 228.60 106.45 Td (revenue ) Tj ET Q q 0 0 0 rg BT 263.41 106.45 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 281.70 106.45 Td ($10,683.3 ) Tj ET Q q 0 0 0 rg BT 324.03 106.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 349.53 106.45 Td (, ) Tj ET Q q 0 0 0 rg BT 354.32 106.45 Td (an ) Tj ET Q q 0 0 0 rg BT 366.62 106.45 Td (increase ) Tj ET Q q 0 0 0 rg BT 402.92 106.45 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 412.71 106.45 Td ($396.2 ) Tj ET Q q 0 0 0 rg BT 442.52 106.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 468.03 106.45 Td (, ) Tj ET Q q 0 0 0 rg BT 472.82 106.45 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 483.10 106.45 Td (3.9%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.62 106.45 Td ( ) Tj ET Q q 0 0 0 rg BT 505.90 106.45 Td (over ) Tj ET Q q 0 0 0 rg BT 525.70 106.45 Td (the ) Tj ET Q q 0 0 0 rg BT 540.49 106.45 Td (same ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 67.50 92.95 Td (period ) Tj ET Q q 0 0 0 rg BT 94.80 92.95 Td (of ) Tj ET Q q 0 0 0 rg BT 104.58 92.95 Td (fiscal ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 127.37 92.95 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 147.39 92.95 Td (. ) Tj ET Q q 0 0 0 rg BT 152.17 92.95 Td (On ) Tj ET Q q 0 0 0 rg BT 166.45 92.95 Td (a ) Tj ET Q q 0 0 0 rg BT 173.74 92.95 Td (constant ) Tj ET Q q 0 0 0 rg BT 210.04 92.95 Td (currency ) Tj ET Q q 0 0 0 rg BT 246.83 92.95 Td (basis, ) Tj ET Q q 0 0 0 rg BT 272.62 92.95 Td (revenue ) Tj ET Q q 0 0 0 rg BT 307.42 92.95 Td (increased ) Tj ET Q q 0 0 0 rg BT 348.73 92.95 Td (by ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 360.51 92.95 Td (0.2%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 381.02 92.95 Td (. ) Tj ET Q q 0 0 0 rg BT 385.80 92.95 Td (Foreign ) Tj ET Q q 0 0 0 rg BT 418.60 92.95 Td (currency ) Tj ET Q q 0 0 0 rg BT 455.39 92.95 Td (rate ) Tj ET Q q 0 0 0 rg BT 473.18 92.95 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 520.98 92.95 Td (favourably ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 67.50 79.45 Td (impacted ) Tj ET Q q 0 0 0 rg BT 106.80 79.45 Td (our ) Tj ET Q q 0 0 0 rg BT 122.58 79.45 Td (revenue ) Tj ET Q q 0 0 0 rg BT 157.89 79.45 Td (by ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 170.17 79.45 Td ($379.4 ) Tj ET Q q 0 0 0 rg BT 200.48 79.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 225.98 79.45 Td ( ) Tj ET Q q 0 0 0 rg BT 228.76 79.45 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 239.54 79.45 Td (3.7%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.06 79.45 Td (. ) Tj ET Q q 0 0 0 rg BT 265.16 79.45 Td (The ) Tj ET Q q 0 0 0 rg BT 283.44 79.45 Td (revenue ) Tj ET Q q 0 0 0 rg BT 318.75 79.45 Td (growth ) Tj ET Q q 0 0 0 rg BT 348.54 79.45 Td (in ) Tj ET Q q 0 0 0 rg BT 358.32 79.45 Td (U.K., ) Tj ET Q q 0 0 0 rg BT 381.10 79.45 Td (France ) Tj ET Q q 0 0 0 rg BT 411.89 79.45 Td (and ) Tj ET Q q 0 0 0 rg BT 429.69 79.45 Td (the ) Tj ET Q q 0 0 0 rg BT 444.98 79.45 Td (increased ) Tj ET Q q 0 0 0 rg BT 486.78 79.45 Td (use ) Tj ET Q q 0 0 0 rg BT 504.07 79.45 Td (of ) Tj ET Q q 0 0 0 rg BT 514.35 79.45 Td (our ) Tj ET Q q 0 0 0 rg BT 530.14 79.45 Td (of) Tj ET Q q 0 0 0 rg BT 537.48 79.45 Td (fshore ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 67.50 65.95 Td (global ) Tj ET Q q 0 0 0 rg BT 94.32 65.95 Td (delivery ) Tj ET Q q 0 0 0 rg BT 128.12 65.95 Td (centers ) Tj ET Q q 0 0 0 rg BT 160.43 65.95 Td (in ) Tj ET Q q 0 0 0 rg BT 169.68 65.95 Td (Asia ) Tj ET Q q 0 0 0 rg BT 189.98 65.95 Td (Pacific ) Tj ET Q q 0 0 0 rg BT 219.28 65.95 Td (compensated ) Tj ET Q q 0 0 0 rg BT 276.11 65.95 Td (for ) Tj ET Q q 0 0 0 rg BT 289.41 65.95 Td (the ) Tj ET Q q 0 0 0 rg BT 304.72 65.95 Td (non-renewal ) Tj ET Q q 0 0 0 rg BT 357.04 65.95 Td (of ) Tj ET Q q 0 0 0 rg BT 367.34 65.95 Td (contracts ) Tj ET Q q 0 0 0 rg BT 406.65 65.95 Td (in ) Tj ET Q q 0 0 0 rg BT 416.45 65.95 Td (the ) Tj ET Q q 0 0 0 rg BT 431.76 65.95 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 452.06 65.95 Td (federal ) Tj ET Q q 0 0 0 rg BT 482.37 65.95 Td (defense ) Tj ET Q q 0 0 0 rg BT 517.19 65.95 Td (market ) Tj ET Q q 0 0 0 rg BT 547.49 65.95 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 67.50 52.45 Td (lower ) Tj ET Q q 0 0 0 rg BT 91.51 52.45 Td (work ) Tj ET Q q 0 0 0 rg BT 113.01 52.45 Td (volumes ) Tj ET Q q 0 0 0 rg BT 149.02 52.45 Td (in ) Tj ET Q q 0 0 0 rg BT 158.53 52.45 Td (the ) Tj ET Q q 0 0 0 rg BT 173.54 52.45 Td (Nordics ) Tj ET Q q 0 0 0 rg BT 206.55 52.45 Td (and ) Tj ET Q q 0 0 0 rg BT 224.06 52.45 Td (ECS ) Tj ET Q q 0 0 0 rg BT 245.07 52.45 Td (segments. ) Tj ET Q endstream endobj 37 0 obj <> endobj 38 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (17) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (3.4.1. ) Tj ET Q q 0 0 0 rg BT 98.52 708.95 Td (U.S.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 692.45 Td (For ) Tj ET Q q 0 0 0 rg BT 88.22 692.45 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.46 692.45 Td (year ) Tj ET Q q 0 0 0 rg BT 123.69 692.45 Td (ended) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 148.71 692.45 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.44 692.45 Td (September30, ) Tj ET Q q 0 0 0 rg BT 213.20 692.45 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 233.22 692.45 Td ( ) Tj ET Q q 0 0 0 rg BT 235.94 692.45 Td (revenue ) Tj ET Q q 0 0 0 rg BT 271.19 692.45 Td (in ) Tj ET Q q 0 0 0 rg BT 280.91 692.45 Td (our ) Tj ET Q q 0 0 0 rg BT 296.64 692.45 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 316.87 692.45 Td (segment ) Tj ET Q q 0 0 0 rg BT 354.11 692.45 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 372.84 692.45 Td ($2,878.7 ) Tj ET Q q 0 0 0 rg BT 410.60 692.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 436.10 692.45 Td (, ) Tj ET Q q 0 0 0 rg BT 441.32 692.45 Td (an ) Tj ET Q q 0 0 0 rg BT 454.06 692.45 Td (increase ) Tj ET Q q 0 0 0 rg BT 490.80 692.45 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 501.03 692.45 Td ($65.5 ) Tj ET Q q 0 0 0 rg BT 526.27 692.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.78 692.45 Td ( ) Tj ET Q q 0 0 0 rg BT 554.50 692.45 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 678.95 Td (2.3%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 92.51 678.95 Td ( ) Tj ET Q q 0 0 0 rg BT 95.04 678.95 Td (over ) Tj ET Q q 0 0 0 rg BT 115.06 678.95 Td (fiscal ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 138.09 678.95 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 158.11 678.95 Td (. ) Tj ET Q q 0 0 0 rg BT 163.13 678.95 Td (On ) Tj ET Q q 0 0 0 rg BT 177.66 678.95 Td (a ) Tj ET Q q 0 0 0 rg BT 185.19 678.95 Td (constant ) Tj ET Q q 0 0 0 rg BT 221.73 678.95 Td (currency ) Tj ET Q q 0 0 0 rg BT 258.76 678.95 Td (basis, ) Tj ET Q q 0 0 0 rg BT 284.80 678.95 Td (revenue ) Tj ET Q q 0 0 0 rg BT 319.84 678.95 Td (decreased ) Tj ET Q q 0 0 0 rg BT 364.39 678.95 Td (by ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 376.42 678.95 Td ($139.5 ) Tj ET Q q 0 0 0 rg BT 406.47 678.95 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 431.97 678.95 Td ( ) Tj ET Q q 0 0 0 rg BT 434.50 678.95 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 445.02 678.95 Td (5.0%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 465.53 678.95 Td (. ) Tj ET Q q 0 0 0 rg BT 470.39 678.95 Td (The ) Tj ET Q q 0 0 0 rg BT 488.42 678.95 Td (change ) Tj ET Q q 0 0 0 rg BT 520.47 678.95 Td (in ) Tj ET Q q 0 0 0 rg BT 530.00 678.95 Td (revenue ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 665.45 Td (was ) Tj ET Q q 0 0 0 rg BT 91.00 665.45 Td (mainly ) Tj ET Q q 0 0 0 rg BT 120.01 665.45 Td (driven ) Tj ET Q q 0 0 0 rg BT 147.52 665.45 Td (by ) Tj ET Q q 0 0 0 rg BT 160.02 665.45 Td (the ) Tj ET Q q 0 0 0 rg BT 175.53 665.45 Td (non-renewal ) Tj ET Q q 0 0 0 rg BT 228.06 665.45 Td (of ) Tj ET Q q 0 0 0 rg BT 238.57 665.45 Td (contracts ) Tj ET Q q 0 0 0 rg BT 278.08 665.45 Td (in ) Tj ET Q q 0 0 0 rg BT 288.08 665.45 Td (the ) Tj ET Q q 0 0 0 rg BT 303.59 665.45 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 324.10 665.45 Td (government ) Tj ET Q q 0 0 0 rg BT 374.62 665.45 Td (market, ) Tj ET Q q 0 0 0 rg BT 407.63 665.45 Td (mainly ) Tj ET Q q 0 0 0 rg BT 436.63 665.45 Td (in ) Tj ET Q q 0 0 0 rg BT 446.63 665.45 Td (the ) Tj ET Q q 0 0 0 rg BT 462.14 665.45 Td (defense ) Tj ET Q q 0 0 0 rg BT 497.17 665.45 Td (sector) Tj ET Q q 0 0 0 rg BT 521.18 665.45 Td (. ) Tj ET Q q 0 0 0 rg BT 526.49 665.45 Td (This ) Tj ET Q q 0 0 0 rg BT 546.49 665.45 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 651.95 Td (partly ) Tj ET Q q 0 0 0 rg BT 96.51 651.95 Td (of) Tj ET Q q 0 0 0 rg BT 103.85 651.95 Td (fset ) Tj ET Q q 0 0 0 rg BT 120.86 651.95 Td (by ) Tj ET Q q 0 0 0 rg BT 132.86 651.95 Td (an ) Tj ET Q q 0 0 0 rg BT 145.38 651.95 Td (increased ) Tj ET Q q 0 0 0 rg BT 186.90 651.95 Td (volume ) Tj ET Q q 0 0 0 rg BT 218.41 651.95 Td (of ) Tj ET Q q 0 0 0 rg BT 228.42 651.95 Td (work ) Tj ET Q q 0 0 0 rg BT 249.92 651.95 Td (within ) Tj ET Q q 0 0 0 rg BT 275.43 651.95 Td (the ) Tj ET Q q 0 0 0 rg BT 290.44 651.95 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 310.45 651.95 Td (federal ) Tj ET Q q 0 0 0 rg BT 340.47 651.95 Td (civilian ) Tj ET Q q 0 0 0 rg BT 369.98 651.95 Td (agencies.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 632.45 Td (For ) Tj ET Q q 0 0 0 rg BT 88.43 632.45 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.87 632.45 Td (year ) Tj ET Q q 0 0 0 rg BT 124.30 632.45 Td (ended) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 149.33 632.45 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 152.26 632.45 Td (September30, ) Tj ET Q q 0 0 0 rg BT 214.22 632.45 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 234.24 632.45 Td (, ) Tj ET Q q 0 0 0 rg BT 239.67 632.45 Td (the ) Tj ET Q q 0 0 0 rg BT 255.11 632.45 Td (top ) Tj ET Q q 0 0 0 rg BT 270.55 632.45 Td (two ) Tj ET Q q 0 0 0 rg BT 287.48 632.45 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 307.91 632.45 Td (vertical ) Tj ET Q q 0 0 0 rg BT 339.35 632.45 Td (markets ) Tj ET Q q 0 0 0 rg BT 374.28 632.45 Td (were ) Tj ET Q q 0 0 0 rg BT 396.72 632.45 Td (government ) Tj ET Q q 0 0 0 rg BT 447.17 632.45 Td (and ) Tj ET Q q 0 0 0 rg BT 465.11 632.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 501.06 632.45 Td (services, ) Tj ET Q q 0 0 0 rg BT 539.50 632.45 Td (which ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 618.95 Td (together ) Tj ET Q q 0 0 0 rg BT 107.53 618.95 Td (accounted ) Tj ET Q q 0 0 0 rg BT 151.56 618.95 Td (for ) Tj ET Q q 0 0 0 rg BT 164.56 618.95 Td (approximately ) Tj ET Q q 0 0 0 rg BT 223.09 618.95 Td (77% ) Tj ET Q q 0 0 0 rg BT 243.60 618.95 Td (of ) Tj ET Q q 0 0 0 rg BT 253.61 618.95 Td (revenue.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 593.15 Td (3.4.2. ) Tj ET Q q 0 0 0 rg BT 98.52 593.15 Td (Nordics) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 576.65 Td (For ) Tj ET Q q 0 0 0 rg BT 87.96 576.65 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 102.93 576.65 Td (year ) Tj ET Q q 0 0 0 rg BT 122.89 576.65 Td (ended) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 147.92 576.65 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 150.38 576.65 Td (September30, ) Tj ET Q q 0 0 0 rg BT 211.87 576.65 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 231.89 576.65 Td (, ) Tj ET Q q 0 0 0 rg BT 236.85 576.65 Td (revenue ) Tj ET Q q 0 0 0 rg BT 271.83 576.65 Td (in ) Tj ET Q q 0 0 0 rg BT 281.29 576.65 Td (our ) Tj ET Q q 0 0 0 rg BT 296.76 576.65 Td (Nordics ) Tj ET Q q 0 0 0 rg BT 329.72 576.65 Td (segment ) Tj ET Q q 0 0 0 rg BT 366.70 576.65 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 385.16 576.65 Td ($1,651.3 ) Tj ET Q q 0 0 0 rg BT 422.65 576.65 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 448.16 576.65 Td (, ) Tj ET Q q 0 0 0 rg BT 453.12 576.65 Td (an ) Tj ET Q q 0 0 0 rg BT 465.58 576.65 Td (increase ) Tj ET Q q 0 0 0 rg BT 502.06 576.65 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 512.02 576.65 Td ($12.3 ) Tj ET Q q 0 0 0 rg BT 537.00 576.65 Td (million) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 563.15 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.24 563.15 Td (0.8%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 102.75 563.15 Td ( ) Tj ET Q q 0 0 0 rg BT 104.98 563.15 Td (over ) Tj ET Q q 0 0 0 rg BT 124.72 563.15 Td (the ) Tj ET Q q 0 0 0 rg BT 139.47 563.15 Td (same ) Tj ET Q q 0 0 0 rg BT 163.71 563.15 Td (period ) Tj ET Q q 0 0 0 rg BT 190.96 563.15 Td (of ) Tj ET Q q 0 0 0 rg BT 200.70 563.15 Td (fiscal ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 223.44 563.15 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 243.46 563.15 Td (. ) Tj ET Q q 0 0 0 rg BT 248.19 563.15 Td (On ) Tj ET Q q 0 0 0 rg BT 262.43 563.15 Td (a ) Tj ET Q q 0 0 0 rg BT 269.67 563.15 Td (constant ) Tj ET Q q 0 0 0 rg BT 305.92 563.15 Td (currency ) Tj ET Q q 0 0 0 rg BT 342.67 563.15 Td (basis, ) Tj ET Q q 0 0 0 rg BT 368.41 563.15 Td (revenue ) Tj ET Q q 0 0 0 rg BT 403.17 563.15 Td (decreased ) Tj ET Q q 0 0 0 rg BT 447.43 563.15 Td (by ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 459.17 563.15 Td ($55.8 ) Tj ET Q q 0 0 0 rg BT 483.92 563.15 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 509.43 563.15 Td ( ) Tj ET Q q 0 0 0 rg BT 511.66 563.15 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 521.90 563.15 Td (3.4%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.41 563.15 Td (. ) Tj ET Q q 0 0 0 rg BT 547.00 563.15 Td (The ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 549.65 Td (change ) Tj ET Q q 0 0 0 rg BT 103.68 549.65 Td (in ) Tj ET Q q 0 0 0 rg BT 112.84 549.65 Td (revenue ) Tj ET Q q 0 0 0 rg BT 147.52 549.65 Td (was ) Tj ET Q q 0 0 0 rg BT 165.68 549.65 Td (mostly ) Tj ET Q q 0 0 0 rg BT 193.83 549.65 Td (due ) Tj ET Q q 0 0 0 rg BT 211.00 549.65 Td (to ) Tj ET Q q 0 0 0 rg BT 220.66 549.65 Td (the ) Tj ET Q q 0 0 0 rg BT 235.33 549.65 Td (expiration ) Tj ET Q q 0 0 0 rg BT 276.50 549.65 Td (of ) Tj ET Q q 0 0 0 rg BT 286.16 549.65 Td (certain ) Tj ET Q q 0 0 0 rg BT 315.33 549.65 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 370.00 549.65 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 411.17 549.65 Td (lower ) Tj ET Q q 0 0 0 rg BT 434.83 549.65 Td (work ) Tj ET Q q 0 0 0 rg BT 455.99 549.65 Td (volumes, ) Tj ET Q q 0 0 0 rg BT 494.16 549.65 Td (and ) Tj ET Q q 0 0 0 rg BT 511.33 549.65 Td (an ) Tj ET Q q 0 0 0 rg BT 523.49 549.65 Td (increased ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 536.15 Td (usage ) Tj ET Q q 0 0 0 rg BT 98.86 536.15 Td (of ) Tj ET Q q 0 0 0 rg BT 108.70 536.15 Td (our ) Tj ET Q q 0 0 0 rg BT 124.05 536.15 Td (of) Tj ET Q q 0 0 0 rg BT 131.39 536.15 Td (fshore ) Tj ET Q q 0 0 0 rg BT 158.74 536.15 Td (delivery ) Tj ET Q q 0 0 0 rg BT 192.09 536.15 Td (centers ) Tj ET Q q 0 0 0 rg BT 223.94 536.15 Td (in ) Tj ET Q q 0 0 0 rg BT 232.82 536.15 Td (Asia ) Tj ET Q q 0 0 0 rg BT 252.66 536.15 Td (Pacific. ) Tj ET Q q 0 0 0 rg BT 283.85 536.15 Td (This ) Tj ET Q q 0 0 0 rg BT 303.19 536.15 Td (was ) Tj ET Q q 0 0 0 rg BT 321.54 536.15 Td (partly ) Tj ET Q q 0 0 0 rg BT 345.88 536.15 Td (of) Tj ET Q q 0 0 0 rg BT 353.22 536.15 Td (fset ) Tj ET Q q 0 0 0 rg BT 370.07 536.15 Td (by ) Tj ET Q q 0 0 0 rg BT 381.91 536.15 Td (an ) Tj ET Q q 0 0 0 rg BT 394.26 536.15 Td (increased ) Tj ET Q q 0 0 0 rg BT 435.62 536.15 Td (work ) Tj ET Q q 0 0 0 rg BT 456.96 536.15 Td (volume ) Tj ET Q q 0 0 0 rg BT 488.31 536.15 Td (in ) Tj ET Q q 0 0 0 rg BT 497.65 536.15 Td (Denmark ) Tj ET Q q 0 0 0 rg BT 536.49 536.15 Td (mainly ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 522.65 Td (in ) Tj ET Q q 0 0 0 rg BT 81.51 522.65 Td (the ) Tj ET Q q 0 0 0 rg BT 96.52 522.65 Td (MRD ) Tj ET Q q 0 0 0 rg BT 119.51 522.65 Td (vertical ) Tj ET Q q 0 0 0 rg BT 150.52 522.65 Td (market. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 503.15 Td (For ) Tj ET Q q 0 0 0 rg BT 89.18 503.15 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 105.37 503.15 Td (year ) Tj ET Q q 0 0 0 rg BT 126.56 503.15 Td (ended ) Tj ET Q q 0 0 0 rg BT 155.26 503.15 Td (September ) Tj ET Q q 0 0 0 rg BT 202.97 503.15 Td (30, ) Tj ET Q q 0 0 0 rg BT 219.16 503.15 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 239.18 503.15 Td (, ) Tj ET Q q 0 0 0 rg BT 245.36 503.15 Td (Nordics' ) Tj ET Q q 0 0 0 rg BT 281.27 503.15 Td (top ) Tj ET Q q 0 0 0 rg BT 297.46 503.15 Td (two ) Tj ET Q q 0 0 0 rg BT 315.14 503.15 Td (vertical ) Tj ET Q q 0 0 0 rg BT 347.33 503.15 Td (markets ) Tj ET Q q 0 0 0 rg BT 383.01 503.15 Td (were ) Tj ET Q q 0 0 0 rg BT 406.20 503.15 Td (MRD ) Tj ET Q q 0 0 0 rg BT 430.38 503.15 Td (and ) Tj ET Q q 0 0 0 rg BT 449.07 503.15 Td (government, ) Tj ET Q q 0 0 0 rg BT 502.78 503.15 Td (which ) Tj ET Q q 0 0 0 rg BT 529.47 503.15 Td (together ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 489.65 Td (accounted ) Tj ET Q q 0 0 0 rg BT 116.03 489.65 Td (for ) Tj ET Q q 0 0 0 rg BT 129.04 489.65 Td (approximately ) Tj ET Q q 0 0 0 rg BT 187.56 489.65 Td (65% ) Tj ET Q q 0 0 0 rg BT 208.08 489.65 Td (of ) Tj ET Q q 0 0 0 rg BT 218.08 489.65 Td (revenue.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 463.85 Td (3.4.3. ) Tj ET Q q 0 0 0 rg BT 98.52 463.85 Td (Canada) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 447.35 Td (For ) Tj ET Q q 0 0 0 rg BT 88.17 447.35 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.35 447.35 Td (year ) Tj ET Q q 0 0 0 rg BT 123.53 447.35 Td (ended ) Tj ET Q q 0 0 0 rg BT 151.22 447.35 Td (September ) Tj ET Q q 0 0 0 rg BT 197.92 447.35 Td (30, ) Tj ET Q q 0 0 0 rg BT 213.10 447.35 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 233.12 447.35 Td (, ) Tj ET Q q 0 0 0 rg BT 238.29 447.35 Td (revenue ) Tj ET Q q 0 0 0 rg BT 273.48 447.35 Td (in ) Tj ET Q q 0 0 0 rg BT 283.15 447.35 Td (our ) Tj ET Q q 0 0 0 rg BT 298.83 447.35 Td (Canada ) Tj ET Q q 0 0 0 rg BT 333.02 447.35 Td (segment ) Tj ET Q q 0 0 0 rg BT 370.21 447.35 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.89 447.35 Td ($1,536.3 ) Tj ET Q q 0 0 0 rg BT 426.59 447.35 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 452.09 447.35 Td (, ) Tj ET Q q 0 0 0 rg BT 457.26 447.35 Td (an ) Tj ET Q q 0 0 0 rg BT 469.94 447.35 Td (increase ) Tj ET Q q 0 0 0 rg BT 506.63 447.35 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 516.81 447.35 Td ($2.6 ) Tj ET Q q 0 0 0 rg BT 536.99 447.35 Td (million) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 433.85 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 83.43 433.85 Td (0.2%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.95 433.85 Td ( ) Tj ET Q q 0 0 0 rg BT 107.38 433.85 Td (compared ) Tj ET Q q 0 0 0 rg BT 150.83 433.85 Td (to ) Tj ET Q q 0 0 0 rg BT 161.77 433.85 Td (the ) Tj ET Q q 0 0 0 rg BT 177.71 433.85 Td (same ) Tj ET Q q 0 0 0 rg BT 203.15 433.85 Td (period ) Tj ET Q q 0 0 0 rg BT 231.59 433.85 Td (last ) Tj ET Q q 0 0 0 rg BT 249.03 433.85 Td (year) Tj ET Q q 0 0 0 rg BT 266.04 433.85 Td (. ) Tj ET Q q 0 0 0 rg BT 271.97 433.85 Td (When ) Tj ET Q q 0 0 0 rg BT 298.91 433.85 Td (considering ) Tj ET Q q 0 0 0 rg BT 348.37 433.85 Td (the ) Tj ET Q q 0 0 0 rg BT 364.32 433.85 Td (higher ) Tj ET Q q 0 0 0 rg BT 392.76 433.85 Td (proportion ) Tj ET Q q 0 0 0 rg BT 436.72 433.85 Td (of ) Tj ET Q q 0 0 0 rg BT 447.66 433.85 Td (revenues ) Tj ET Q q 0 0 0 rg BT 488.11 433.85 Td (delivered ) Tj ET Q q 0 0 0 rg BT 528.07 433.85 Td (from ) Tj ET Q q 0 0 0 rg BT 549.50 433.85 Td (our ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 420.35 Td (of) Tj ET Q q 0 0 0 rg BT 79.34 420.35 Td (fshore ) Tj ET Q q 0 0 0 rg BT 107.57 420.35 Td (delivery ) Tj ET Q q 0 0 0 rg BT 141.80 420.35 Td (centers ) Tj ET Q q 0 0 0 rg BT 174.53 420.35 Td (in ) Tj ET Q q 0 0 0 rg BT 184.11 420.35 Td (Asia ) Tj ET Q q 0 0 0 rg BT 204.83 420.35 Td (Pacific, ) Tj ET Q q 0 0 0 rg BT 237.05 420.35 Td (our ) Tj ET Q q 0 0 0 rg BT 253.28 420.35 Td (client ) Tj ET Q q 0 0 0 rg BT 277.50 420.35 Td (revenue ) Tj ET Q q 0 0 0 rg BT 313.24 420.35 Td (grew ) Tj ET Q q 0 0 0 rg BT 335.96 420.35 Td (by ) Tj ET Q q 0 0 0 rg BT 348.68 420.35 Td (2.3%. ) Tj ET Q q 0 0 0 rg BT 374.70 420.35 Td (This ) Tj ET Q q 0 0 0 rg BT 394.92 420.35 Td (increase ) Tj ET Q q 0 0 0 rg BT 432.15 420.35 Td (was ) Tj ET Q q 0 0 0 rg BT 451.37 420.35 Td (mainly ) Tj ET Q q 0 0 0 rg BT 480.59 420.35 Td (due ) Tj ET Q q 0 0 0 rg BT 498.83 420.35 Td (to ) Tj ET Q q 0 0 0 rg BT 509.55 420.35 Td (growth ) Tj ET Q q 0 0 0 rg BT 539.77 420.35 Td (in ) Tj ET Q q 0 0 0 rg BT 549.99 420.35 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 406.85 Td (financial ) Tj ET Q q 0 0 0 rg BT 107.44 406.85 Td (services ) Tj ET Q q 0 0 0 rg BT 142.86 406.85 Td (market, ) Tj ET Q q 0 0 0 rg BT 175.29 406.85 Td (including ) Tj ET Q q 0 0 0 rg BT 213.23 406.85 Td (IP-based ) Tj ET Q q 0 0 0 rg BT 251.67 406.85 Td (services ) Tj ET Q q 0 0 0 rg BT 287.09 406.85 Td (and ) Tj ET Q q 0 0 0 rg BT 304.53 406.85 Td (solutions ) Tj ET Q q 0 0 0 rg BT 342.47 406.85 Td (revenue ) Tj ET Q q 0 0 0 rg BT 377.41 406.85 Td (and ) Tj ET Q q 0 0 0 rg BT 394.84 406.85 Td (new ) Tj ET Q q 0 0 0 rg BT 413.77 406.85 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 462.71 406.85 Td (contracts ) Tj ET Q q 0 0 0 rg BT 501.65 406.85 Td (within ) Tj ET Q q 0 0 0 rg BT 527.07 406.85 Td (the ) Tj ET Q q 0 0 0 rg BT 542.00 406.85 Td (MRD ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 393.35 Td (vertical ) Tj ET Q q 0 0 0 rg BT 102.98 393.35 Td (market. ) Tj ET Q q 0 0 0 rg BT 135.31 393.35 Td (This ) Tj ET Q q 0 0 0 rg BT 154.79 393.35 Td (was ) Tj ET Q q 0 0 0 rg BT 173.27 393.35 Td (partly ) Tj ET Q q 0 0 0 rg BT 197.75 393.35 Td (of) Tj ET Q q 0 0 0 rg BT 205.10 393.35 Td (fset ) Tj ET Q q 0 0 0 rg BT 222.08 393.35 Td (by ) Tj ET Q q 0 0 0 rg BT 234.06 393.35 Td (expiration ) Tj ET Q q 0 0 0 rg BT 275.56 393.35 Td (of ) Tj ET Q q 0 0 0 rg BT 285.55 393.35 Td (certain ) Tj ET Q q 0 0 0 rg BT 315.04 393.35 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 370.03 393.35 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 419.04 393.35 Td (contracts ) Tj ET Q q 0 0 0 rg BT 458.03 393.35 Td (and ) Tj ET Q q 0 0 0 rg BT 475.52 393.35 Td (the ) Tj ET Q q 0 0 0 rg BT 490.51 393.35 Td (positive ) Tj ET Q q 0 0 0 rg BT 523.50 393.35 Td (impact ) Tj ET Q q 0 0 0 rg BT 552.49 393.35 Td (on ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 379.85 Td (revenue ) Tj ET Q q 0 0 0 rg BT 107.02 379.85 Td (of ) Tj ET Q q 0 0 0 rg BT 117.03 379.85 Td (a ) Tj ET Q q 0 0 0 rg BT 124.54 379.85 Td (client ) Tj ET Q q 0 0 0 rg BT 148.05 379.85 Td (arbitration ) Tj ET Q q 0 0 0 rg BT 190.57 379.85 Td (award ) Tj ET Q q 0 0 0 rg BT 217.58 379.85 Td (in ) Tj ET Q q 0 0 0 rg BT 227.09 379.85 Td (Q3 ) Tj ET Q q 0 0 0 rg BT 241.59 379.85 Td (2015. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 360.35 Td (For ) Tj ET Q q 0 0 0 rg BT 87.87 360.35 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 102.75 360.35 Td (year ) Tj ET Q q 0 0 0 rg BT 122.63 360.35 Td (ended ) Tj ET Q q 0 0 0 rg BT 150.02 360.35 Td (September ) Tj ET Q q 0 0 0 rg BT 196.42 360.35 Td (30, ) Tj ET Q q 0 0 0 rg BT 211.30 360.35 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 231.32 360.35 Td (, ) Tj ET Q q 0 0 0 rg BT 236.19 360.35 Td (Canada) Tj ET Q q 0 0 0 rg BT 269.55 360.35 Td (s ) Tj ET Q q 0 0 0 rg BT 276.42 360.35 Td (top ) Tj ET Q q 0 0 0 rg BT 291.30 360.35 Td (two ) Tj ET Q q 0 0 0 rg BT 307.68 360.35 Td (vertical ) Tj ET Q q 0 0 0 rg BT 338.56 360.35 Td (markets ) Tj ET Q q 0 0 0 rg BT 372.93 360.35 Td (were ) Tj ET Q q 0 0 0 rg BT 394.81 360.35 Td (financial ) Tj ET Q q 0 0 0 rg BT 430.20 360.35 Td (services ) Tj ET Q q 0 0 0 rg BT 465.58 360.35 Td (and ) Tj ET Q q 0 0 0 rg BT 482.96 360.35 Td (telecommunications ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 346.85 Td (& ) Tj ET Q q 0 0 0 rg BT 80.50 346.85 Td (utilities, ) Tj ET Q q 0 0 0 rg BT 113.01 346.85 Td (which ) Tj ET Q q 0 0 0 rg BT 138.52 346.85 Td (together ) Tj ET Q q 0 0 0 rg BT 174.05 346.85 Td (accounted ) Tj ET Q q 0 0 0 rg BT 218.08 346.85 Td (for ) Tj ET Q q 0 0 0 rg BT 231.09 346.85 Td (approximately ) Tj ET Q q 0 0 0 rg BT 289.61 346.85 Td (62% ) Tj ET Q q 0 0 0 rg BT 310.13 346.85 Td (of ) Tj ET Q q 0 0 0 rg BT 320.13 346.85 Td (revenue.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 321.05 Td (3.4.4. ) Tj ET Q q 0 0 0 rg BT 98.52 321.05 Td (France) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 304.55 Td (For ) Tj ET Q q 0 0 0 rg BT 87.83 304.55 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 102.67 304.55 Td (year ) Tj ET Q q 0 0 0 rg BT 122.50 304.55 Td (ended ) Tj ET Q q 0 0 0 rg BT 149.85 304.55 Td (September ) Tj ET Q q 0 0 0 rg BT 196.21 304.55 Td (30, ) Tj ET Q q 0 0 0 rg BT 211.04 304.55 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 231.07 304.55 Td (, ) Tj ET Q q 0 0 0 rg BT 235.89 304.55 Td (revenue ) Tj ET Q q 0 0 0 rg BT 270.74 304.55 Td (in ) Tj ET Q q 0 0 0 rg BT 280.08 304.55 Td (our ) Tj ET Q q 0 0 0 rg BT 295.41 304.55 Td (France ) Tj ET Q q 0 0 0 rg BT 325.75 304.55 Td (segment ) Tj ET Q q 0 0 0 rg BT 362.60 304.55 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 380.93 304.55 Td ($1,445.0 ) Tj ET Q q 0 0 0 rg BT 418.29 304.55 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 443.79 304.55 Td (, ) Tj ET Q q 0 0 0 rg BT 448.62 304.55 Td (an ) Tj ET Q q 0 0 0 rg BT 460.96 304.55 Td (increase ) Tj ET Q q 0 0 0 rg BT 497.30 304.55 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 507.14 304.55 Td ($161.6 ) Tj ET Q q 0 0 0 rg BT 536.99 304.55 Td (million) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 291.05 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.14 291.05 Td (12.6%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 107.66 291.05 Td ( ) Tj ET Q q 0 0 0 rg BT 109.80 291.05 Td (over ) Tj ET Q q 0 0 0 rg BT 129.44 291.05 Td (the ) Tj ET Q q 0 0 0 rg BT 144.09 291.05 Td (same ) Tj ET Q q 0 0 0 rg BT 168.24 291.05 Td (period ) Tj ET Q q 0 0 0 rg BT 195.39 291.05 Td (of ) Tj ET Q q 0 0 0 rg BT 205.04 291.05 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 227.68 291.05 Td (2015. ) Tj ET Q q 0 0 0 rg BT 252.34 291.05 Td (On ) Tj ET Q q 0 0 0 rg BT 266.48 291.05 Td (a ) Tj ET Q q 0 0 0 rg BT 273.63 291.05 Td (constant ) Tj ET Q q 0 0 0 rg BT 309.79 291.05 Td (currency ) Tj ET Q q 0 0 0 rg BT 346.43 291.05 Td (basis, ) Tj ET Q q 0 0 0 rg BT 372.08 291.05 Td (revenue ) Tj ET Q q 0 0 0 rg BT 406.74 291.05 Td (increased ) Tj ET Q q 0 0 0 rg BT 447.90 291.05 Td (by ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 459.55 291.05 Td ($97.6 ) Tj ET Q q 0 0 0 rg BT 484.21 291.05 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 509.71 291.05 Td ( ) Tj ET Q q 0 0 0 rg BT 511.85 291.05 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 521.99 291.05 Td (7.6%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.50 291.05 Td (. ) Tj ET Q q 0 0 0 rg BT 547.00 291.05 Td (The ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 277.55 Td (increase ) Tj ET Q q 0 0 0 rg BT 108.25 277.55 Td (in ) Tj ET Q q 0 0 0 rg BT 117.48 277.55 Td (revenue ) Tj ET Q q 0 0 0 rg BT 152.24 277.55 Td (was ) Tj ET Q q 0 0 0 rg BT 170.47 277.55 Td (mostly ) Tj ET Q q 0 0 0 rg BT 198.70 277.55 Td (due ) Tj ET Q q 0 0 0 rg BT 215.95 277.55 Td (to ) Tj ET Q q 0 0 0 rg BT 225.68 277.55 Td (more ) Tj ET Q q 0 0 0 rg BT 248.42 277.55 Td (work ) Tj ET Q q 0 0 0 rg BT 269.65 277.55 Td (volume ) Tj ET Q q 0 0 0 rg BT 300.89 277.55 Td (across ) Tj ET Q q 0 0 0 rg BT 329.63 277.55 Td (the ) Tj ET Q q 0 0 0 rg BT 344.37 277.55 Td (majority ) Tj ET Q q 0 0 0 rg BT 378.10 277.55 Td (of ) Tj ET Q q 0 0 0 rg BT 387.84 277.55 Td (their ) Tj ET Q q 0 0 0 rg BT 407.58 277.55 Td (vertical ) Tj ET Q q 0 0 0 rg BT 438.31 277.55 Td (markets ) Tj ET Q q 0 0 0 rg BT 472.55 277.55 Td (and, ) Tj ET Q q 0 0 0 rg BT 492.29 277.55 Td (to ) Tj ET Q q 0 0 0 rg BT 502.03 277.55 Td (a ) Tj ET Q q 0 0 0 rg BT 509.26 277.55 Td (lesser ) Tj ET Q q 0 0 0 rg BT 535.50 277.55 Td (extent, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 264.05 Td (to ) Tj ET Q q 0 0 0 rg BT 82.01 264.05 Td (a ) Tj ET Q q 0 0 0 rg BT 89.51 264.05 Td (recent ) Tj ET Q q 0 0 0 rg BT 117.03 264.05 Td (business ) Tj ET Q q 0 0 0 rg BT 155.05 264.05 Td (acquisition.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 244.55 Td (For ) Tj ET Q q 0 0 0 rg BT 87.83 244.55 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 102.67 244.55 Td (year ) Tj ET Q q 0 0 0 rg BT 122.51 244.55 Td (ended ) Tj ET Q q 0 0 0 rg BT 149.87 244.55 Td (September ) Tj ET Q q 0 0 0 rg BT 196.22 244.55 Td (30, ) Tj ET Q q 0 0 0 rg BT 211.06 244.55 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 231.09 244.55 Td (, ) Tj ET Q q 0 0 0 rg BT 235.92 244.55 Td (France) Tj ET Q q 0 0 0 rg BT 265.77 244.55 Td (s ) Tj ET Q q 0 0 0 rg BT 272.60 244.55 Td (top ) Tj ET Q q 0 0 0 rg BT 287.44 244.55 Td (two ) Tj ET Q q 0 0 0 rg BT 303.77 244.55 Td (vertical ) Tj ET Q q 0 0 0 rg BT 334.61 244.55 Td (markets ) Tj ET Q q 0 0 0 rg BT 368.95 244.55 Td (were ) Tj ET Q q 0 0 0 rg BT 390.79 244.55 Td (MRD ) Tj ET Q q 0 0 0 rg BT 413.61 244.55 Td (and ) Tj ET Q q 0 0 0 rg BT 430.96 244.55 Td (financial ) Tj ET Q q 0 0 0 rg BT 466.31 244.55 Td (services, ) Tj ET Q q 0 0 0 rg BT 504.15 244.55 Td (which ) Tj ET Q q 0 0 0 rg BT 529.49 244.55 Td (together ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 231.05 Td (accounted ) Tj ET Q q 0 0 0 rg BT 116.03 231.05 Td (for ) Tj ET Q q 0 0 0 rg BT 129.04 231.05 Td (approximately ) Tj ET Q q 0 0 0 rg BT 187.56 231.05 Td (63% ) Tj ET Q q 0 0 0 rg BT 208.08 231.05 Td (of ) Tj ET Q q 0 0 0 rg BT 218.08 231.05 Td (revenue.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 205.25 Td (3.4.5. ) Tj ET Q q 0 0 0 rg BT 98.52 205.25 Td (U.K.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 188.75 Td (For ) Tj ET Q q 0 0 0 rg BT 87.84 188.75 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 102.69 188.75 Td (year ) Tj ET Q q 0 0 0 rg BT 122.53 188.75 Td (ended ) Tj ET Q q 0 0 0 rg BT 149.89 188.75 Td (September ) Tj ET Q q 0 0 0 rg BT 196.25 188.75 Td (30, ) Tj ET Q q 0 0 0 rg BT 211.10 188.75 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 231.12 188.75 Td (, ) Tj ET Q q 0 0 0 rg BT 235.96 188.75 Td (revenue ) Tj ET Q q 0 0 0 rg BT 270.82 188.75 Td (in ) Tj ET Q q 0 0 0 rg BT 280.16 188.75 Td (our ) Tj ET Q q 0 0 0 rg BT 295.51 188.75 Td (U.K. ) Tj ET Q q 0 0 0 rg BT 315.35 188.75 Td (segment ) Tj ET Q q 0 0 0 rg BT 352.21 188.75 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 370.55 188.75 Td ($1,431.7 ) Tj ET Q q 0 0 0 rg BT 407.92 188.75 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 433.42 188.75 Td (, ) Tj ET Q q 0 0 0 rg BT 438.26 188.75 Td (an ) Tj ET Q q 0 0 0 rg BT 450.61 188.75 Td (increase ) Tj ET Q q 0 0 0 rg BT 486.96 188.75 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 496.81 188.75 Td ($100.5 ) Tj ET Q q 0 0 0 rg BT 526.67 188.75 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 552.18 188.75 Td ( ) Tj ET Q q 0 0 0 rg BT 554.51 188.75 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 175.25 Td (7.5%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 92.51 175.25 Td ( ) Tj ET Q q 0 0 0 rg BT 94.99 175.25 Td (over ) Tj ET Q q 0 0 0 rg BT 114.98 175.25 Td (fiscal ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 137.96 175.25 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 157.98 175.25 Td (. ) Tj ET Q q 0 0 0 rg BT 162.96 175.25 Td (On ) Tj ET Q q 0 0 0 rg BT 177.44 175.25 Td (a ) Tj ET Q q 0 0 0 rg BT 184.92 175.25 Td (constant ) Tj ET Q q 0 0 0 rg BT 221.42 175.25 Td (currency ) Tj ET Q q 0 0 0 rg BT 258.41 175.25 Td (basis, ) Tj ET Q q 0 0 0 rg BT 284.40 175.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 319.40 175.25 Td (increased ) Tj ET Q q 0 0 0 rg BT 360.90 175.25 Td (by ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 372.88 175.25 Td ($1) Tj ET Q q 0 0 0 rg BT 382.22 175.25 Td (14.0 ) Tj ET Q q 0 0 0 rg BT 402.22 175.25 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 427.72 175.25 Td ( ) Tj ET Q q 0 0 0 rg BT 430.20 175.25 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 440.68 175.25 Td (8.6%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 461.19 175.25 Td (. ) Tj ET Q q 0 0 0 rg BT 466.01 175.25 Td (The ) Tj ET Q q 0 0 0 rg BT 484.00 175.25 Td (increase ) Tj ET Q q 0 0 0 rg BT 520.49 175.25 Td (in ) Tj ET Q q 0 0 0 rg BT 529.97 175.25 Td (revenue ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 161.75 Td (was ) Tj ET Q q 0 0 0 rg BT 92.96 161.75 Td (mainly ) Tj ET Q q 0 0 0 rg BT 123.93 161.75 Td (due ) Tj ET Q q 0 0 0 rg BT 143.90 161.75 Td (to ) Tj ET Q q 0 0 0 rg BT 156.37 161.75 Td (new ) Tj ET Q q 0 0 0 rg BT 177.83 161.75 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 229.32 161.75 Td (contracts ) Tj ET Q q 0 0 0 rg BT 270.79 161.75 Td (in ) Tj ET Q q 0 0 0 rg BT 282.76 161.75 Td (the ) Tj ET Q q 0 0 0 rg BT 300.23 161.75 Td (government ) Tj ET Q q 0 0 0 rg BT 352.71 161.75 Td (market ) Tj ET Q q 0 0 0 rg BT 385.17 161.75 Td (combined ) Tj ET Q q 0 0 0 rg BT 429.16 161.75 Td (with ) Tj ET Q q 0 0 0 rg BT 450.12 161.75 Td (higher ) Tj ET Q q 0 0 0 rg BT 480.09 161.75 Td (work ) Tj ET Q q 0 0 0 rg BT 504.05 161.75 Td (volume ) Tj ET Q q 0 0 0 rg BT 538.02 161.75 Td (in ) Tj ET Q q 0 0 0 rg BT 549.99 161.75 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 148.25 Td (telecommunication ) Tj ET Q q 0 0 0 rg BT 149.27 148.25 Td (& ) Tj ET Q q 0 0 0 rg BT 157.50 148.25 Td (utilities ) Tj ET Q q 0 0 0 rg BT 187.24 148.25 Td (and ) Tj ET Q q 0 0 0 rg BT 204.48 148.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 239.73 148.25 Td (services ) Tj ET Q q 0 0 0 rg BT 274.97 148.25 Td (vertical ) Tj ET Q q 0 0 0 rg BT 305.71 148.25 Td (markets. ) Tj ET Q q 0 0 0 rg BT 342.30 148.25 Td (This ) Tj ET Q q 0 0 0 rg BT 361.53 148.25 Td (was ) Tj ET Q q 0 0 0 rg BT 379.76 148.25 Td (partly ) Tj ET Q q 0 0 0 rg BT 404.00 148.25 Td (of) Tj ET Q q 0 0 0 rg BT 411.34 148.25 Td (fset ) Tj ET Q q 0 0 0 rg BT 428.08 148.25 Td (by ) Tj ET Q q 0 0 0 rg BT 439.81 148.25 Td (lower ) Tj ET Q q 0 0 0 rg BT 463.55 148.25 Td (work ) Tj ET Q q 0 0 0 rg BT 484.78 148.25 Td (volume ) Tj ET Q q 0 0 0 rg BT 516.02 148.25 Td (with ) Tj ET Q q 0 0 0 rg BT 534.26 148.25 Td (a ) Tj ET Q q 0 0 0 rg BT 541.49 148.25 Td (client ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 134.75 Td (in ) Tj ET Q q 0 0 0 rg BT 81.51 134.75 Td (the ) Tj ET Q q 0 0 0 rg BT 96.52 134.75 Td (MRD ) Tj ET Q q 0 0 0 rg BT 119.51 134.75 Td (vertical ) Tj ET Q q 0 0 0 rg BT 150.52 134.75 Td (market. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 115.25 Td (For ) Tj ET Q q 0 0 0 rg BT 87.53 115.25 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 102.06 115.25 Td (year ) Tj ET Q q 0 0 0 rg BT 121.60 115.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 148.65 115.25 Td (September ) Tj ET Q q 0 0 0 rg BT 194.70 115.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 209.23 115.25 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 229.26 115.25 Td (, ) Tj ET Q q 0 0 0 rg BT 233.78 115.25 Td (U.K.) Tj ET Q q 0 0 0 rg BT 253.12 115.25 Td (s ) Tj ET Q q 0 0 0 rg BT 259.65 115.25 Td (top ) Tj ET Q q 0 0 0 rg BT 274.18 115.25 Td (two ) Tj ET Q q 0 0 0 rg BT 290.21 115.25 Td (vertical ) Tj ET Q q 0 0 0 rg BT 320.75 115.25 Td (markets ) Tj ET Q q 0 0 0 rg BT 354.78 115.25 Td (were ) Tj ET Q q 0 0 0 rg BT 376.31 115.25 Td (government ) Tj ET Q q 0 0 0 rg BT 425.86 115.25 Td (and ) Tj ET Q q 0 0 0 rg BT 442.90 115.25 Td (telecommunications ) Tj ET Q q 0 0 0 rg BT 524.47 115.25 Td (& ) Tj ET Q q 0 0 0 rg BT 532.49 115.25 Td (utilities, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 101.75 Td (which ) Tj ET Q q 0 0 0 rg BT 97.51 101.75 Td (together ) Tj ET Q q 0 0 0 rg BT 133.04 101.75 Td (accounted ) Tj ET Q q 0 0 0 rg BT 177.07 101.75 Td (for ) Tj ET Q q 0 0 0 rg BT 190.07 101.75 Td (approximately ) Tj ET Q q 0 0 0 rg BT 248.60 101.75 Td (68% ) Tj ET Q q 0 0 0 rg BT 269.11 101.75 Td (of ) Tj ET Q q 0 0 0 rg BT 279.12 101.75 Td (revenue.) Tj ET Q endstream endobj 39 0 obj <> endobj 40 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (18) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (3.4.6. ) Tj ET Q q 0 0 0 rg BT 98.52 708.95 Td (ECS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 692.45 Td (For ) Tj ET Q q 0 0 0 rg BT 88.14 692.45 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.28 692.45 Td (year ) Tj ET Q q 0 0 0 rg BT 123.43 692.45 Td (ended ) Tj ET Q q 0 0 0 rg BT 151.09 692.45 Td (September ) Tj ET Q q 0 0 0 rg BT 197.75 692.45 Td (30, ) Tj ET Q q 0 0 0 rg BT 212.90 692.45 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 232.92 692.45 Td (, ) Tj ET Q q 0 0 0 rg BT 238.06 692.45 Td (revenue ) Tj ET Q q 0 0 0 rg BT 273.22 692.45 Td (in ) Tj ET Q q 0 0 0 rg BT 282.86 692.45 Td (our ) Tj ET Q q 0 0 0 rg BT 298.50 692.45 Td (ECS ) Tj ET Q q 0 0 0 rg BT 319.64 692.45 Td (segment ) Tj ET Q q 0 0 0 rg BT 356.80 692.45 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 375.44 692.45 Td ($1,198.9 ) Tj ET Q q 0 0 0 rg BT 413.11 692.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.62 692.45 Td (, ) Tj ET Q q 0 0 0 rg BT 443.75 692.45 Td (a ) Tj ET Q q 0 0 0 rg BT 451.39 692.45 Td (decrease ) Tj ET Q q 0 0 0 rg BT 491.05 692.45 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 501.20 692.45 Td ($12.4 ) Tj ET Q q 0 0 0 rg BT 526.35 692.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.86 692.45 Td ( ) Tj ET Q q 0 0 0 rg BT 554.50 692.45 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 678.95 Td (1.0%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 92.51 678.95 Td ( ) Tj ET Q q 0 0 0 rg BT 95.30 678.95 Td (over ) Tj ET Q q 0 0 0 rg BT 115.59 678.95 Td (fiscal ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 138.88 678.95 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 158.90 678.95 Td (. ) Tj ET Q q 0 0 0 rg BT 164.19 678.95 Td (On ) Tj ET Q q 0 0 0 rg BT 178.98 678.95 Td (a ) Tj ET Q q 0 0 0 rg BT 186.77 678.95 Td (constant ) Tj ET Q q 0 0 0 rg BT 223.58 678.95 Td (currency ) Tj ET Q q 0 0 0 rg BT 260.87 678.95 Td (basis, ) Tj ET Q q 0 0 0 rg BT 287.17 678.95 Td (revenue ) Tj ET Q q 0 0 0 rg BT 322.48 678.95 Td (decreased ) Tj ET Q q 0 0 0 rg BT 367.29 678.95 Td (by ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 379.58 678.95 Td ($59.2 ) Tj ET Q q 0 0 0 rg BT 404.89 678.95 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 430.40 678.95 Td ( ) Tj ET Q q 0 0 0 rg BT 433.18 678.95 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 443.97 678.95 Td (4.9%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 464.48 678.95 Td (. ) Tj ET Q q 0 0 0 rg BT 469.59 678.95 Td (The ) Tj ET Q q 0 0 0 rg BT 487.88 678.95 Td (change ) Tj ET Q q 0 0 0 rg BT 520.19 678.95 Td (in ) Tj ET Q q 0 0 0 rg BT 529.98 678.95 Td (revenue ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 665.45 Td (was ) Tj ET Q q 0 0 0 rg BT 91.38 665.45 Td (mostly ) Tj ET Q q 0 0 0 rg BT 120.76 665.45 Td (due ) Tj ET Q q 0 0 0 rg BT 139.15 665.45 Td (to ) Tj ET Q q 0 0 0 rg BT 150.04 665.45 Td (lower ) Tj ET Q q 0 0 0 rg BT 174.92 665.45 Td (work ) Tj ET Q q 0 0 0 rg BT 197.30 665.45 Td (volume ) Tj ET Q q 0 0 0 rg BT 229.69 665.45 Td (and ) Tj ET Q q 0 0 0 rg BT 248.08 665.45 Td (projects ) Tj ET Q q 0 0 0 rg BT 282.97 665.45 Td (completed ) Tj ET Q q 0 0 0 rg BT 327.87 665.45 Td (in ) Tj ET Q q 0 0 0 rg BT 338.26 665.45 Td (the ) Tj ET Q q 0 0 0 rg BT 354.14 665.45 Td (Netherlands, ) Tj ET Q q 0 0 0 rg BT 408.55 665.45 Td (lower ) Tj ET Q q 0 0 0 rg BT 433.43 665.45 Td (work ) Tj ET Q q 0 0 0 rg BT 455.81 665.45 Td (volume ) Tj ET Q q 0 0 0 rg BT 488.20 665.45 Td (combined ) Tj ET Q q 0 0 0 rg BT 530.60 665.45 Td (with ) Tj ET Q q 0 0 0 rg BT 549.98 665.45 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 651.95 Td (divesting ) Tj ET Q q 0 0 0 rg BT 110.43 651.95 Td (of ) Tj ET Q q 0 0 0 rg BT 120.84 651.95 Td (certain ) Tj ET Q q 0 0 0 rg BT 150.76 651.95 Td (low ) Tj ET Q q 0 0 0 rg BT 167.17 651.95 Td (margin ) Tj ET Q q 0 0 0 rg BT 197.59 651.95 Td (contracts ) Tj ET Q q 0 0 0 rg BT 237.01 651.95 Td (in ) Tj ET Q q 0 0 0 rg BT 246.92 651.95 Td (Southern ) Tj ET Q q 0 0 0 rg BT 286.36 651.95 Td (Europe ) Tj ET Q q 0 0 0 rg BT 318.29 651.95 Td (and ) Tj ET Q q 0 0 0 rg BT 336.21 651.95 Td (the ) Tj ET Q q 0 0 0 rg BT 351.63 651.95 Td (wind-down ) Tj ET Q q 0 0 0 rg BT 397.56 651.95 Td (of ) Tj ET Q q 0 0 0 rg BT 407.97 651.95 Td (the ) Tj ET Q q 0 0 0 rg BT 423.39 651.95 Td (majority ) Tj ET Q q 0 0 0 rg BT 457.80 651.95 Td (of ) Tj ET Q q 0 0 0 rg BT 468.21 651.95 Td (our ) Tj ET Q q 0 0 0 rg BT 484.13 651.95 Td (operations ) Tj ET Q q 0 0 0 rg BT 529.07 651.95 Td (in ) Tj ET Q q 0 0 0 rg BT 538.98 651.95 Td (South ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 638.45 Td (America. ) Tj ET Q q 0 0 0 rg BT 110.01 638.45 Td (This ) Tj ET Q q 0 0 0 rg BT 129.69 638.45 Td (was ) Tj ET Q q 0 0 0 rg BT 148.37 638.45 Td (partly ) Tj ET Q q 0 0 0 rg BT 173.05 638.45 Td (of) Tj ET Q q 0 0 0 rg BT 180.40 638.45 Td (fset ) Tj ET Q q 0 0 0 rg BT 197.58 638.45 Td (by ) Tj ET Q q 0 0 0 rg BT 209.76 638.45 Td (increased ) Tj ET Q q 0 0 0 rg BT 251.46 638.45 Td (work ) Tj ET Q q 0 0 0 rg BT 273.14 638.45 Td (volume ) Tj ET Q q 0 0 0 rg BT 304.83 638.45 Td (in ) Tj ET Q q 0 0 0 rg BT 314.51 638.45 Td (Germany ) Tj ET Q q 0 0 0 rg BT 354.20 638.45 Td (mainly ) Tj ET Q q 0 0 0 rg BT 382.88 638.45 Td (in ) Tj ET Q q 0 0 0 rg BT 392.56 638.45 Td (the ) Tj ET Q q 0 0 0 rg BT 407.75 638.45 Td (MRD ) Tj ET Q q 0 0 0 rg BT 430.92 638.45 Td (and ) Tj ET Q q 0 0 0 rg BT 448.61 638.45 Td (telecommunication ) Tj ET Q q 0 0 0 rg BT 526.33 638.45 Td (& ) Tj ET Q q 0 0 0 rg BT 535.01 638.45 Td (utilities ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 624.95 Td (vertical ) Tj ET Q q 0 0 0 rg BT 103.01 624.95 Td (markets. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 605.45 Td (For ) Tj ET Q q 0 0 0 rg BT 87.84 605.45 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 102.69 605.45 Td (year ) Tj ET Q q 0 0 0 rg BT 122.54 605.45 Td (ended ) Tj ET Q q 0 0 0 rg BT 149.91 605.45 Td (September ) Tj ET Q q 0 0 0 rg BT 196.27 605.45 Td (30, ) Tj ET Q q 0 0 0 rg BT 211.12 605.45 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 231.15 605.45 Td (, ) Tj ET Q q 0 0 0 rg BT 235.99 605.45 Td (ECS) Tj ET Q q 0 0 0 rg BT 256.16 605.45 Td ( ) Tj ET Q q 0 0 0 rg BT 258.50 605.45 Td (top ) Tj ET Q q 0 0 0 rg BT 273.35 605.45 Td (two ) Tj ET Q q 0 0 0 rg BT 289.69 605.45 Td (vertical ) Tj ET Q q 0 0 0 rg BT 320.54 605.45 Td (markets ) Tj ET Q q 0 0 0 rg BT 354.89 605.45 Td (were ) Tj ET Q q 0 0 0 rg BT 376.74 605.45 Td (MRD ) Tj ET Q q 0 0 0 rg BT 399.57 605.45 Td (and ) Tj ET Q q 0 0 0 rg BT 416.93 605.45 Td (telecommunications ) Tj ET Q q 0 0 0 rg BT 498.81 605.45 Td (& ) Tj ET Q q 0 0 0 rg BT 507.15 605.45 Td (utilities, ) Tj ET Q q 0 0 0 rg BT 539.50 605.45 Td (which ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 591.95 Td (together ) Tj ET Q q 0 0 0 rg BT 107.53 591.95 Td (accounted ) Tj ET Q q 0 0 0 rg BT 151.56 591.95 Td (for ) Tj ET Q q 0 0 0 rg BT 164.56 591.95 Td (approximately ) Tj ET Q q 0 0 0 rg BT 223.09 591.95 Td (63% ) Tj ET Q q 0 0 0 rg BT 243.60 591.95 Td (of ) Tj ET Q q 0 0 0 rg BT 253.61 591.95 Td (revenue.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 566.15 Td (3.4.7. ) Tj ET Q q 0 0 0 rg BT 98.18 566.15 Td (Asia ) Tj ET Q q 0 0 0 rg BT 119.70 566.15 Td (Pacific) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 549.65 Td (For ) Tj ET Q q 0 0 0 rg BT 87.56 549.65 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 102.13 549.65 Td (year ) Tj ET Q q 0 0 0 rg BT 121.69 549.65 Td (ended ) Tj ET Q q 0 0 0 rg BT 148.77 549.65 Td (September ) Tj ET Q q 0 0 0 rg BT 194.86 549.65 Td (30, ) Tj ET Q q 0 0 0 rg BT 209.42 549.65 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 229.45 549.65 Td (, ) Tj ET Q q 0 0 0 rg BT 234.00 549.65 Td (revenue ) Tj ET Q q 0 0 0 rg BT 268.58 549.65 Td (in ) Tj ET Q q 0 0 0 rg BT 277.65 549.65 Td (our ) Tj ET Q q 0 0 0 rg BT 292.30 549.65 Td (Asia ) Tj ET Q q 0 0 0 rg BT 311.87 549.65 Td (Pacific ) Tj ET Q q 0 0 0 rg BT 340.43 549.65 Td (segment ) Tj ET Q q 0 0 0 rg BT 377.01 549.65 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 395.07 549.65 Td ($541.4 ) Tj ET Q q 0 0 0 rg BT 424.66 549.65 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 450.16 549.65 Td (, ) Tj ET Q q 0 0 0 rg BT 454.72 549.65 Td (an ) Tj ET Q q 0 0 0 rg BT 466.79 549.65 Td (increase ) Tj ET Q q 0 0 0 rg BT 502.86 549.65 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 512.43 549.65 Td ($66.0 ) Tj ET Q q 0 0 0 rg BT 537.00 549.65 Td (million) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 536.15 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.77 536.15 Td (13.9%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 108.28 536.15 Td ( ) Tj ET Q q 0 0 0 rg BT 111.05 536.15 Td (over ) Tj ET Q q 0 0 0 rg BT 131.32 536.15 Td (the ) Tj ET Q q 0 0 0 rg BT 146.59 536.15 Td (same ) Tj ET Q q 0 0 0 rg BT 171.36 536.15 Td (period ) Tj ET Q q 0 0 0 rg BT 199.15 536.15 Td (of ) Tj ET Q q 0 0 0 rg BT 209.41 536.15 Td (fiscal ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 232.68 536.15 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 252.70 536.15 Td (. ) Tj ET Q q 0 0 0 rg BT 257.97 536.15 Td (On ) Tj ET Q q 0 0 0 rg BT 272.74 536.15 Td (a ) Tj ET Q q 0 0 0 rg BT 280.51 536.15 Td (constant ) Tj ET Q q 0 0 0 rg BT 317.29 536.15 Td (currency ) Tj ET Q q 0 0 0 rg BT 354.56 536.15 Td (basis, ) Tj ET Q q 0 0 0 rg BT 380.84 536.15 Td (revenue ) Tj ET Q q 0 0 0 rg BT 416.13 536.15 Td (increased ) Tj ET Q q 0 0 0 rg BT 457.91 536.15 Td (by ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 470.18 536.15 Td ($57.7 ) Tj ET Q q 0 0 0 rg BT 495.47 536.15 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 520.97 536.15 Td ( ) Tj ET Q q 0 0 0 rg BT 523.73 536.15 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.50 536.15 Td (12.1%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 560.02 536.15 Td (. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 522.65 Td (The ) Tj ET Q q 0 0 0 rg BT 89.92 522.65 Td (increase ) Tj ET Q q 0 0 0 rg BT 126.35 522.65 Td (in ) Tj ET Q q 0 0 0 rg BT 135.76 522.65 Td (revenue ) Tj ET Q q 0 0 0 rg BT 170.70 522.65 Td (was ) Tj ET Q q 0 0 0 rg BT 189.12 522.65 Td (due ) Tj ET Q q 0 0 0 rg BT 206.54 522.65 Td (the ) Tj ET Q q 0 0 0 rg BT 221.47 522.65 Td (continued ) Tj ET Q q 0 0 0 rg BT 262.91 522.65 Td (increased ) Tj ET Q q 0 0 0 rg BT 304.34 522.65 Td (demand ) Tj ET Q q 0 0 0 rg BT 339.28 522.65 Td (of ) Tj ET Q q 0 0 0 rg BT 349.20 522.65 Td (our ) Tj ET Q q 0 0 0 rg BT 364.61 522.65 Td (of) Tj ET Q q 0 0 0 rg BT 371.96 522.65 Td (fshore ) Tj ET Q q 0 0 0 rg BT 399.38 522.65 Td (delivery ) Tj ET Q q 0 0 0 rg BT 432.81 522.65 Td (centers ) Tj ET Q q 0 0 0 rg BT 464.73 522.65 Td (across ) Tj ET Q q 0 0 0 rg BT 493.65 522.65 Td (our ) Tj ET Q q 0 0 0 rg BT 509.07 522.65 Td (segments, ) Tj ET Q q 0 0 0 rg BT 553.00 522.65 Td (as ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 509.15 Td (our ) Tj ET Q q 0 0 0 rg BT 87.01 509.15 Td (clients ) Tj ET Q q 0 0 0 rg BT 114.51 509.15 Td (continue ) Tj ET Q q 0 0 0 rg BT 150.54 509.15 Td (taking ) Tj ET Q q 0 0 0 rg BT 176.55 509.15 Td (advantage ) Tj ET Q q 0 0 0 rg BT 220.59 509.15 Td (of ) Tj ET Q q 0 0 0 rg BT 230.09 509.15 Td (our ) Tj ET Q q 0 0 0 rg BT 245.10 509.15 Td (global ) Tj ET Q q 0 0 0 rg BT 271.11 509.15 Td (delivery ) Tj ET Q q 0 0 0 rg BT 304.12 509.15 Td (network. ) Tj ET Q q 0 0 0 rg BT 340.00 509.15 Td (This ) Tj ET Q q 0 0 0 rg BT 359.00 509.15 Td (was ) Tj ET Q q 0 0 0 rg BT 377.01 509.15 Td (partly ) Tj ET Q q 0 0 0 rg BT 401.01 509.15 Td (of) Tj ET Q q 0 0 0 rg BT 408.36 509.15 Td (fset ) Tj ET Q q 0 0 0 rg BT 424.86 509.15 Td (by ) Tj ET Q q 0 0 0 rg BT 436.36 509.15 Td (lower ) Tj ET Q q 0 0 0 rg BT 459.87 509.15 Td (work ) Tj ET Q q 0 0 0 rg BT 480.87 509.15 Td (volumes ) Tj ET Q q 0 0 0 rg BT 516.38 509.15 Td (in ) Tj ET Q q 0 0 0 rg BT 524.98 509.15 Td (Australia. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 489.65 Td (For ) Tj ET Q q 0 0 0 rg BT 87.43 489.65 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 101.87 489.65 Td (year ) Tj ET Q q 0 0 0 rg BT 121.31 489.65 Td (ended ) Tj ET Q q 0 0 0 rg BT 148.27 489.65 Td (September ) Tj ET Q q 0 0 0 rg BT 194.23 489.65 Td (30, ) Tj ET Q q 0 0 0 rg BT 208.67 489.65 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 228.69 489.65 Td (, ) Tj ET Q q 0 0 0 rg BT 232.74 489.65 Td (Asia ) Tj ET Q q 0 0 0 rg BT 252.18 489.65 Td (Pacific) Tj ET Q q 0 0 0 rg BT 280.53 489.65 Td (s ) Tj ET Q q 0 0 0 rg BT 286.96 489.65 Td (top ) Tj ET Q q 0 0 0 rg BT 301.40 489.65 Td (two ) Tj ET Q q 0 0 0 rg BT 317.34 489.65 Td (vertical ) Tj ET Q q 0 0 0 rg BT 347.78 489.65 Td (markets ) Tj ET Q q 0 0 0 rg BT 381.71 489.65 Td (were ) Tj ET Q q 0 0 0 rg BT 403.15 489.65 Td (telecommunications& ) Tj ET Q q 0 0 0 rg BT 493.12 489.65 Td (utilities ) Tj ET Q q 0 0 0 rg BT 522.56 489.65 Td (and ) Tj ET Q q 0 0 0 rg BT 539.51 489.65 Td (MRD, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 476.15 Td (which ) Tj ET Q q 0 0 0 rg BT 97.51 476.15 Td (together ) Tj ET Q q 0 0 0 rg BT 133.04 476.15 Td (accounted ) Tj ET Q q 0 0 0 rg BT 177.07 476.15 Td (for ) Tj ET Q q 0 0 0 rg BT 190.07 476.15 Td (approximately ) Tj ET Q q 0 0 0 rg BT 248.60 476.15 Td (72% ) Tj ET Q q 0 0 0 rg BT 269.11 476.15 Td (of ) Tj ET Q q 0 0 0 rg BT 279.12 476.15 Td (revenue.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 447.35 Td (3.5. OPERA) Tj ET Q q 0 0 0 rg BT 122.35 447.35 Td (TING EXPENSES) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 72.50 436.85 163.00 -29.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 235.50 436.85 54.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 289.50 436.85 54.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 343.50 436.85 54.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 397.50 436.85 52.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 449.50 436.85 113.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 235.50 423.85 54.00 -16.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 289.50 423.85 54.00 -16.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 343.50 423.85 54.00 -16.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 397.50 423.85 52.00 -16.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 449.50 423.85 59.00 -16.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 508.50 423.85 54.00 -16.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 235.50 407.85 54.00 -12.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 289.50 407.85 54.00 -12.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 235.50 395.85 54.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 289.50 395.85 54.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 235.50 382.85 54.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 289.50 382.85 54.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 369.85 m 235.5 369.85 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 235.5 369.85 m 289.5 369.85 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 289.5 369.85 m 343.5 369.85 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343.5 369.85 m 397.5 369.85 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 397.5 369.85 m 449.5 369.85 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449.5 369.85 m 508.5 369.85 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 508.5 369.85 m 562.5 369.85 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 75.00 412.08 Td (For the years ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 323.10 428.08 Td (% of) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 423.10 428.08 Td (% of) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 494.00 428.08 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 268.20 412.08 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 306.65 412.08 Td (Revenue) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 376.20 412.08 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 412.65 412.08 Td (Revenue) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 476.25 412.08 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 535.00 412.08 Td (%) Tj ET Q BT /F4 7.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 75.00 399.80 Td (In thousands of CAD except for percentages) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 387.33 Td (Costs of services, selling and administrative) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.25 387.33 Td (9,120,929) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.25 387.38 Td (85.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 329.85 387.33 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 354.25 387.38 Td (8,819,055) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 420.25 387.38 Td (85.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 435.85 387.33 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.90 387.33 Td (301,874) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 535.05 387.33 Td (3.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 387.33 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 374.08 Td (Foreign exchange loss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 261.75 374.08 Td (2,024) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 318.70 374.08 Td (0.0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 329.85 374.08 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 365.30 374.08 Td (10,733) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 424.70 374.08 Td (0.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 435.85 374.08 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.15 374.08 Td (\(8,709) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.85 374.08 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.95 374.08 Td (\(81.1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 374.08 Td (%\)) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 344.55 Td (3.5.1. ) Tj ET Q q 0 0 0 rg BT 98.52 344.55 Td (Costs ) Tj ET Q q 0 0 0 rg BT 126.02 344.55 Td (of ) Tj ET Q q 0 0 0 rg BT 137.02 344.55 Td (Services, ) Tj ET Q q 0 0 0 rg BT 179.05 344.55 Td (Selling ) Tj ET Q q 0 0 0 rg BT 211.06 344.55 Td (and ) Tj ET Q q 0 0 0 rg BT 229.22 344.55 Td (Administrative) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 328.05 Td (For ) Tj ET Q q 0 0 0 rg BT 87.48 328.05 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 101.98 328.05 Td (year ) Tj ET Q q 0 0 0 rg BT 121.47 328.05 Td (ended ) Tj ET Q q 0 0 0 rg BT 148.48 328.05 Td (September ) Tj ET Q q 0 0 0 rg BT 194.49 328.05 Td (30, ) Tj ET Q q 0 0 0 rg BT 208.98 328.05 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 229.01 328.05 Td (, ) Tj ET Q q 0 0 0 rg BT 233.49 328.05 Td (costs ) Tj ET Q q 0 0 0 rg BT 256.48 328.05 Td (of ) Tj ET Q q 0 0 0 rg BT 265.97 328.05 Td (services, ) Tj ET Q q 0 0 0 rg BT 303.46 328.05 Td (selling ) Tj ET Q q 0 0 0 rg BT 330.96 328.05 Td (and ) Tj ET Q q 0 0 0 rg BT 347.96 328.05 Td (administrative ) Tj ET Q q 0 0 0 rg BT 405.46 328.05 Td (expenses ) Tj ET Q q 0 0 0 rg BT 445.98 328.05 Td (amounted ) Tj ET Q q 0 0 0 rg BT 487.99 328.05 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 497.48 328.05 Td ($9,120.9 ) Tj ET Q q 0 0 0 rg BT 534.50 328.05 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 560.00 328.05 Td (, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 314.55 Td (an ) Tj ET Q q 0 0 0 rg BT 85.66 314.55 Td (increase ) Tj ET Q q 0 0 0 rg BT 123.32 314.55 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 134.48 314.55 Td ($301.9 ) Tj ET Q q 0 0 0 rg BT 165.65 314.55 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 191.16 314.55 Td ( ) Tj ET Q q 0 0 0 rg BT 194.81 314.55 Td (over ) Tj ET Q q 0 0 0 rg BT 215.96 314.55 Td (the ) Tj ET Q q 0 0 0 rg BT 232.12 314.55 Td (same ) Tj ET Q q 0 0 0 rg BT 257.78 314.55 Td (period ) Tj ET Q q 0 0 0 rg BT 286.44 314.55 Td (last ) Tj ET Q q 0 0 0 rg BT 304.10 314.55 Td (year) Tj ET Q q 0 0 0 rg BT 321.11 314.55 Td (. ) Tj ET Q q 0 0 0 rg BT 326.53 314.55 Td (As ) Tj ET Q q 0 0 0 rg BT 340.68 314.55 Td (a ) Tj ET Q q 0 0 0 rg BT 349.34 314.55 Td (percentage ) Tj ET Q q 0 0 0 rg BT 398.02 314.55 Td (of ) Tj ET Q q 0 0 0 rg BT 409.17 314.55 Td (revenue, ) Tj ET Q q 0 0 0 rg BT 447.85 314.55 Td (cost ) Tj ET Q q 0 0 0 rg BT 468.00 314.55 Td (of ) Tj ET Q q 0 0 0 rg BT 479.15 314.55 Td (services, ) Tj ET Q q 0 0 0 rg BT 518.31 314.55 Td (selling ) Tj ET Q q 0 0 0 rg BT 547.47 314.55 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 301.05 Td (administrative ) Tj ET Q q 0 0 0 rg BT 129.05 301.05 Td (expenses ) Tj ET Q q 0 0 0 rg BT 169.11 301.05 Td (improved ) Tj ET Q q 0 0 0 rg BT 207.66 301.05 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 216.70 301.05 Td (85.4%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 242.22 301.05 Td ( ) Tj ET Q q 0 0 0 rg BT 243.76 301.05 Td (from ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 263.29 301.05 Td (85.7%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 288.81 301.05 Td (. ) Tj ET Q q 0 0 0 rg BT 292.54 301.05 Td (As ) Tj ET Q q 0 0 0 rg BT 304.57 301.05 Td (a ) Tj ET Q q 0 0 0 rg BT 311.11 301.05 Td (percentage ) Tj ET Q q 0 0 0 rg BT 357.68 301.05 Td (of ) Tj ET Q q 0 0 0 rg BT 366.72 301.05 Td (revenue, ) Tj ET Q q 0 0 0 rg BT 403.28 301.05 Td (our ) Tj ET Q q 0 0 0 rg BT 417.82 301.05 Td (costs ) Tj ET Q q 0 0 0 rg BT 440.36 301.05 Td (of ) Tj ET Q q 0 0 0 rg BT 449.40 301.05 Td (services ) Tj ET Q q 0 0 0 rg BT 483.94 301.05 Td (improved ) Tj ET Q q 0 0 0 rg BT 522.49 301.05 Td (compared ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 287.55 Td (to ) Tj ET Q q 0 0 0 rg BT 81.86 287.55 Td (the ) Tj ET Q q 0 0 0 rg BT 96.73 287.55 Td (same ) Tj ET Q q 0 0 0 rg BT 121.09 287.55 Td (period ) Tj ET Q q 0 0 0 rg BT 148.47 287.55 Td (last ) Tj ET Q q 0 0 0 rg BT 164.83 287.55 Td (year ) Tj ET Q q 0 0 0 rg BT 184.69 287.55 Td (mainly ) Tj ET Q q 0 0 0 rg BT 213.06 287.55 Td (due ) Tj ET Q q 0 0 0 rg BT 230.43 287.55 Td (to ) Tj ET Q q 0 0 0 rg BT 240.29 287.55 Td (savings ) Tj ET Q q 0 0 0 rg BT 273.17 287.55 Td (related ) Tj ET Q q 0 0 0 rg BT 303.04 287.55 Td (to ) Tj ET Q q 0 0 0 rg BT 312.90 287.55 Td (the ) Tj ET Q q 0 0 0 rg BT 327.77 287.55 Td (recent ) Tj ET Q q 0 0 0 rg BT 355.14 287.55 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 407.52 287.55 Td (program, ) Tj ET Q q 0 0 0 rg BT 445.88 287.55 Td (improved ) Tj ET Q q 0 0 0 rg BT 485.26 287.55 Td (utilization ) Tj ET Q q 0 0 0 rg BT 525.13 287.55 Td (rates ) Tj ET Q q 0 0 0 rg BT 547.50 287.55 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 274.05 Td (the ) Tj ET Q q 0 0 0 rg BT 88.08 274.05 Td (increased ) Tj ET Q q 0 0 0 rg BT 130.68 274.05 Td (use ) Tj ET Q q 0 0 0 rg BT 148.76 274.05 Td (of ) Tj ET Q q 0 0 0 rg BT 159.84 274.05 Td (our ) Tj ET Q q 0 0 0 rg BT 176.42 274.05 Td (global ) Tj ET Q q 0 0 0 rg BT 204.01 274.05 Td (delivery ) Tj ET Q q 0 0 0 rg BT 238.60 274.05 Td (network. ) Tj ET Q q 0 0 0 rg BT 276.18 274.05 Td (Our ) Tj ET Q q 0 0 0 rg BT 294.76 274.05 Td (selling ) Tj ET Q q 0 0 0 rg BT 323.85 274.05 Td (and ) Tj ET Q q 0 0 0 rg BT 342.43 274.05 Td (administrative ) Tj ET Q q 0 0 0 rg BT 401.53 274.05 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 446.13 274.05 Td (as ) Tj ET Q q 0 0 0 rg BT 459.20 274.05 Td (a ) Tj ET Q q 0 0 0 rg BT 467.78 274.05 Td (percentage ) Tj ET Q q 0 0 0 rg BT 516.39 274.05 Td (of ) Tj ET Q q 0 0 0 rg BT 527.47 274.05 Td (revenue, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 260.55 Td (remained ) Tj ET Q q 0 0 0 rg BT 112.02 260.55 Td (stable.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 241.05 Td (During ) Tj ET Q q 0 0 0 rg BT 100.95 241.05 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 115.89 241.05 Td (year ) Tj ET Q q 0 0 0 rg BT 135.83 241.05 Td (ended ) Tj ET Q q 0 0 0 rg BT 163.29 241.05 Td (September ) Tj ET Q q 0 0 0 rg BT 209.75 241.05 Td (30, ) Tj ET Q q 0 0 0 rg BT 224.69 241.05 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 244.71 241.05 Td ( ) Tj ET Q q 0 0 0 rg BT 247.15 241.05 Td (the ) Tj ET Q q 0 0 0 rg BT 262.09 241.05 Td (translation ) Tj ET Q q 0 0 0 rg BT 306.05 241.05 Td (of ) Tj ET Q q 0 0 0 rg BT 315.99 241.05 Td (the ) Tj ET Q q 0 0 0 rg BT 330.93 241.05 Td (results ) Tj ET Q q 0 0 0 rg BT 359.87 241.05 Td (of ) Tj ET Q q 0 0 0 rg BT 369.81 241.05 Td (our ) Tj ET Q q 0 0 0 rg BT 385.25 241.05 Td (foreign ) Tj ET Q q 0 0 0 rg BT 415.20 241.05 Td (operations ) Tj ET Q q 0 0 0 rg BT 459.67 241.05 Td (from ) Tj ET Q q 0 0 0 rg BT 480.10 241.05 Td (their ) Tj ET Q q 0 0 0 rg BT 500.04 241.05 Td (local ) Tj ET Q q 0 0 0 rg BT 520.98 241.05 Td (currencies ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 227.55 Td (to ) Tj ET Q q 0 0 0 rg BT 81.50 227.55 Td (the ) Tj ET Q q 0 0 0 rg BT 96.00 227.55 Td (Canadian ) Tj ET Q q 0 0 0 rg BT 136.53 227.55 Td (dollar ) Tj ET Q q 0 0 0 rg BT 160.53 227.55 Td (unfavourably ) Tj ET Q q 0 0 0 rg BT 214.06 227.55 Td (impacted ) Tj ET Q q 0 0 0 rg BT 252.57 227.55 Td (costs ) Tj ET Q q 0 0 0 rg BT 275.57 227.55 Td (by ) Tj ET Q q 0 0 0 rg BT 287.07 227.55 Td ($325.5 ) Tj ET Q q 0 0 0 rg BT 316.59 227.55 Td (million ) Tj ET Q q 0 0 0 rg BT 344.08 227.55 Td (substantially ) Tj ET Q q 0 0 0 rg BT 395.60 227.55 Td (of) Tj ET Q q 0 0 0 rg BT 402.95 227.55 Td (fsetting ) Tj ET Q q 0 0 0 rg BT 433.96 227.55 Td (the ) Tj ET Q q 0 0 0 rg BT 448.46 227.55 Td (favourable ) Tj ET Q q 0 0 0 rg BT 492.48 227.55 Td (translation ) Tj ET Q q 0 0 0 rg BT 536.00 227.55 Td (impact ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 214.05 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.01 214.05 Td ($379.4 ) Tj ET Q q 0 0 0 rg BT 112.03 214.05 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 137.54 214.05 Td ( ) Tj ET Q q 0 0 0 rg BT 140.04 214.05 Td (on ) Tj ET Q q 0 0 0 rg BT 152.55 214.05 Td (our ) Tj ET Q q 0 0 0 rg BT 168.06 214.05 Td (revenue.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 194.25 Td (3.5.2. ) Tj ET Q q 0 0 0 rg BT 98.52 194.25 Td (Foreign ) Tj ET Q q 0 0 0 rg BT 134.02 194.25 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 179.03 194.25 Td (Loss) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 177.75 Td (During ) Tj ET Q q 0 0 0 rg BT 101.10 177.75 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 116.21 177.75 Td (year ) Tj ET Q q 0 0 0 rg BT 136.31 177.75 Td (ended ) Tj ET Q q 0 0 0 rg BT 163.93 177.75 Td (September ) Tj ET Q q 0 0 0 rg BT 210.54 177.75 Td (30, ) Tj ET Q q 0 0 0 rg BT 225.65 177.75 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 245.67 177.75 Td (, ) Tj ET Q q 0 0 0 rg BT 250.76 177.75 Td (CGI ) Tj ET Q q 0 0 0 rg BT 269.35 177.75 Td (incurred ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 304.46 177.75 Td ($2.0 ) Tj ET Q q 0 0 0 rg BT 324.57 177.75 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 350.08 177.75 Td ( ) Tj ET Q q 0 0 0 rg BT 352.67 177.75 Td (of ) Tj ET Q q 0 0 0 rg BT 362.77 177.75 Td (foreign ) Tj ET Q q 0 0 0 rg BT 392.88 177.75 Td (exchange ) Tj ET Q q 0 0 0 rg BT 434.50 177.75 Td (loss, ) Tj ET Q q 0 0 0 rg BT 455.60 177.75 Td (mainly ) Tj ET Q q 0 0 0 rg BT 484.20 177.75 Td (driven ) Tj ET Q q 0 0 0 rg BT 511.30 177.75 Td (by ) Tj ET Q q 0 0 0 rg BT 523.40 177.75 Td (the ) Tj ET Q q 0 0 0 rg BT 538.51 177.75 Td (timing ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 164.25 Td (in ) Tj ET Q q 0 0 0 rg BT 82.01 164.25 Td (payments ) Tj ET Q q 0 0 0 rg BT 124.04 164.25 Td (combined ) Tj ET Q q 0 0 0 rg BT 166.06 164.25 Td (with ) Tj ET Q q 0 0 0 rg BT 185.08 164.25 Td (the ) Tj ET Q q 0 0 0 rg BT 200.59 164.25 Td (volatility ) Tj ET Q q 0 0 0 rg BT 235.61 164.25 Td (and ) Tj ET Q q 0 0 0 rg BT 253.63 164.25 Td (fluctuation ) Tj ET Q q 0 0 0 rg BT 297.66 164.25 Td (of ) Tj ET Q q 0 0 0 rg BT 308.18 164.25 Td (foreign ) Tj ET Q q 0 0 0 rg BT 338.70 164.25 Td (exchange ) Tj ET Q q 0 0 0 rg BT 380.74 164.25 Td (rates. ) Tj ET Q q 0 0 0 rg BT 406.06 164.25 Td (The ) Tj ET Q q 0 0 0 rg BT 424.57 164.25 Td (Company) Tj ET Q q 0 0 0 rg BT 462.42 164.25 Td (, ) Tj ET Q q 0 0 0 rg BT 467.93 164.25 Td (in ) Tj ET Q q 0 0 0 rg BT 477.94 164.25 Td (addition ) Tj ET Q q 0 0 0 rg BT 512.47 164.25 Td (to ) Tj ET Q q 0 0 0 rg BT 522.98 164.25 Td (its ) Tj ET Q q 0 0 0 rg BT 534.99 164.25 Td (natural ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 150.75 Td (hedges, ) Tj ET Q q 0 0 0 rg BT 107.14 150.75 Td (has ) Tj ET Q q 0 0 0 rg BT 124.77 150.75 Td (a ) Tj ET Q q 0 0 0 rg BT 132.89 150.75 Td (strategy ) Tj ET Q q 0 0 0 rg BT 168.02 150.75 Td (in ) Tj ET Q q 0 0 0 rg BT 178.14 150.75 Td (place ) Tj ET Q q 0 0 0 rg BT 202.77 150.75 Td (to ) Tj ET Q q 0 0 0 rg BT 213.39 150.75 Td (manage ) Tj ET Q q 0 0 0 rg BT 249.03 150.75 Td (its ) Tj ET Q q 0 0 0 rg BT 261.15 150.75 Td (exposure, ) Tj ET Q q 0 0 0 rg BT 303.79 150.75 Td (to ) Tj ET Q q 0 0 0 rg BT 314.41 150.75 Td (the ) Tj ET Q q 0 0 0 rg BT 330.04 150.75 Td (extent ) Tj ET Q q 0 0 0 rg BT 357.67 150.75 Td (possible, ) Tj ET Q q 0 0 0 rg BT 396.31 150.75 Td (to ) Tj ET Q q 0 0 0 rg BT 406.93 150.75 Td (exchange ) Tj ET Q q 0 0 0 rg BT 449.08 150.75 Td (rate ) Tj ET Q q 0 0 0 rg BT 467.70 150.75 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 516.34 150.75 Td (through ) Tj ET Q q 0 0 0 rg BT 549.98 150.75 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 137.25 Td (ef) Tj ET Q q 0 0 0 rg BT 79.34 137.25 Td (fective ) Tj ET Q q 0 0 0 rg BT 107.85 137.25 Td (use ) Tj ET Q q 0 0 0 rg BT 124.87 137.25 Td (of ) Tj ET Q q 0 0 0 rg BT 134.87 137.25 Td (derivatives. ) Tj ET Q endstream endobj 41 0 obj <> endobj 42 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (19) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (3.6. ) Tj ET Q q 0 0 0 rg BT 90.68 708.95 Td (ADJUSTED EBIT BY) Tj ET Q q 0 0 0 rg BT 177.03 708.95 Td ( SEGMENT) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 72.50 698.45 171.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 243.50 698.45 80.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 323.50 698.45 80.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 403.50 698.45 160.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 403.50 685.45 80.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 483.50 685.45 80.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 243.50 672.45 80.00 -12.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 243.50 660.45 80.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 243.50 647.45 80.00 -14.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 243.50 633.45 80.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 243.50 626.45 80.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 243.50 613.45 80.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 243.50 600.45 80.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 243.50 593.45 80.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 243.50 580.45 80.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 243.50 567.45 80.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 243.50 560.45 80.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 243.50 547.45 80.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 243.50 534.45 80.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 243.50 527.45 80.00 -16.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 243.50 511.45 80.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 243.50 498.45 80.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 243.50 491.45 80.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 243.50 478.45 80.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 243.50 465.45 80.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 243.50 458.45 80.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 243.50 445.45 80.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 432.45 171.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 243.50 432.45 80.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 323.50 432.45 80.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 403.50 432.45 80.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 483.50 432.45 80.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 419.45 171.00 -14.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 243.50 419.45 80.00 -14.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 323.50 419.45 80.00 -14.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 403.50 419.45 80.00 -14.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 483.50 419.45 80.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 698.45 m 243.5 698.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 243.5 698.45 m 323.5 698.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 323.5 698.45 m 403.5 698.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 698.45 m 483.5 698.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 698.45 m 563.5 698.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 405.45 m 243.5 405.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 243.5 405.45 m 323.5 405.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 323.5 405.45 m 403.5 405.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 405.45 m 483.5 405.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 405.45 m 563.5 405.45 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 75.00 676.68 Td (For the years ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 296.20 676.68 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 376.20 676.68 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 484.00 689.93 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 460.00 676.93 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 540.00 676.93 Td (%) Tj ET Q BT /F4 7.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 75.00 664.65 Td (In thousands of CAD except for percentages) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 651.93 Td (U.S.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 286.90 651.98 Td (486,295) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 366.90 651.93 Td (454,325) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.30 651.93 Td (31,970) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.05 651.93 Td (7.0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 547.20 651.93 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 81.00 638.38 Td (As a percentage of U.S. revenue) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 294.25 638.48 Td (16.9) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 309.85 638.43 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 374.25 638.43 Td (16.2) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 389.85 638.38 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 617.93 Td (Nordics) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 286.90 617.98 Td (186,742) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 366.90 617.93 Td (153,841) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.30 617.93 Td (32,901) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.60 617.98 Td (21.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 547.20 617.93 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 81.00 604.88 Td (As a percentage of Nordics revenue) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 294.25 604.98 Td (11.3) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 309.85 604.93 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 378.70 604.88 Td (9.4) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 389.85 604.88 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 584.93 Td (Canada) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 286.90 584.98 Td (345,483) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 366.90 584.93 Td (343,692) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 455.80 584.98 Td (1,791) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.05 584.93 Td (0.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 547.20 584.93 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 81.00 571.88 Td (As a percentage of Canada revenue) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 294.25 571.98 Td (22.5) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 309.85 571.93 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 374.25 571.93 Td (22.4) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 389.85 571.88 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 551.93 Td (France) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 286.90 551.98 Td (174,685) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 366.90 551.93 Td (146,615) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.30 551.93 Td (28,070) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.60 551.98 Td (19.1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 547.20 551.93 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 81.00 538.88 Td (As a percentage of France revenue) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 294.25 538.98 Td (12.1) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 309.85 538.93 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 374.25 538.93 Td (11.4) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 389.85 538.88 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 517.43 Td (U.K.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 286.90 517.48 Td (154,262) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 366.90 517.43 Td (163,603) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.15 517.43 Td (\(9,341) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.85 517.43 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.40 517.43 Td (\(5.7) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 547.20 517.43 Td (%\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 81.00 502.88 Td (As a percentage of U.K. revenue) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 294.25 502.98 Td (10.8) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 309.85 502.93 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 374.25 502.93 Td (12.3) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 389.85 502.88 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 482.93 Td (ECS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 286.90 482.98 Td (114,256) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 366.90 482.93 Td (118,141) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.15 482.93 Td (\(3,885) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.85 482.93 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.40 482.93 Td (\(3.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 547.20 482.93 Td (%\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 81.00 469.88 Td (As a percentage of ECS revenue) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 298.70 469.98 Td (9.5) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 309.85 469.93 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 378.70 469.88 Td (9.8) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 389.85 469.88 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 449.93 Td (Asia Pacific) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 291.35 449.98 Td (98,588) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 371.30 449.93 Td (77,091) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.30 449.93 Td (21,497) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.60 449.98 Td (27.9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 547.20 449.93 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 81.00 436.88 Td (As a percentage of Asia Pacific revenue) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 294.25 436.98 Td (18.2) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 309.85 436.93 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 374.25 436.93 Td (16.2) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 389.85 436.88 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 423.68 Td (Adjusted EBIT) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 280.25 423.73 Td (1,560,311) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 360.25 423.98 Td (1,457,308) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.90 423.68 Td (103,003) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.05 423.68 Td (7.1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 547.20 423.68 Td (%) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 81.00 409.68 Td (Adjusted EBIT margin) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 294.25 409.73 Td (14.6) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 309.85 409.68 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 374.25 410.43 Td (14.2) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 389.85 410.38 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 386.45 Td (For ) Tj ET Q q 0 0 0 rg BT 87.62 386.45 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 102.25 386.45 Td (year ) Tj ET Q q 0 0 0 rg BT 121.88 386.45 Td (ended ) Tj ET Q q 0 0 0 rg BT 149.02 386.45 Td (September ) Tj ET Q q 0 0 0 rg BT 195.17 386.45 Td (30, ) Tj ET Q q 0 0 0 rg BT 209.80 386.45 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 229.82 386.45 Td (, ) Tj ET Q q 0 0 0 rg BT 234.44 386.45 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 270.59 386.45 Td (EBIT) Tj ET Q q 0 0 0 rg BT 290.43 386.45 Td ( ) Tj ET Q q 0 0 0 rg BT 292.55 386.45 Td (margin ) Tj ET Q q 0 0 0 rg BT 322.18 386.45 Td (increased ) Tj ET Q q 0 0 0 rg BT 363.32 386.45 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 372.95 386.45 Td (14.6%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 398.47 386.45 Td ( ) Tj ET Q q 0 0 0 rg BT 400.58 386.45 Td (from ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 420.70 386.45 Td (14.2%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 446.22 386.45 Td ( ) Tj ET Q q 0 0 0 rg BT 448.34 386.45 Td (for ) Tj ET Q q 0 0 0 rg BT 460.97 386.45 Td (the ) Tj ET Q q 0 0 0 rg BT 475.60 386.45 Td (same ) Tj ET Q q 0 0 0 rg BT 499.72 386.45 Td (period ) Tj ET Q q 0 0 0 rg BT 526.86 386.45 Td (last ) Tj ET Q q 0 0 0 rg BT 542.99 386.45 Td (year) Tj ET Q q 0 0 0 rg BT 560.00 386.45 Td (. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 372.95 Td (The ) Tj ET Q q 0 0 0 rg BT 90.06 372.95 Td (favourable ) Tj ET Q q 0 0 0 rg BT 134.65 372.95 Td (variance ) Tj ET Q q 0 0 0 rg BT 171.22 372.95 Td (in ) Tj ET Q q 0 0 0 rg BT 180.78 372.95 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 217.37 372.95 Td (EBIT) Tj ET Q q 0 0 0 rg BT 237.21 372.95 Td ( ) Tj ET Q q 0 0 0 rg BT 239.76 372.95 Td (margin ) Tj ET Q q 0 0 0 rg BT 269.83 372.95 Td (was ) Tj ET Q q 0 0 0 rg BT 288.39 372.95 Td (primarily ) Tj ET Q q 0 0 0 rg BT 324.94 372.95 Td (due ) Tj ET Q q 0 0 0 rg BT 342.52 372.95 Td (to ) Tj ET Q q 0 0 0 rg BT 352.58 372.95 Td (productivity ) Tj ET Q q 0 0 0 rg BT 400.65 372.95 Td (improvements, ) Tj ET Q q 0 0 0 rg BT 462.23 372.95 Td (the ) Tj ET Q q 0 0 0 rg BT 477.29 372.95 Td (savings ) Tj ET Q q 0 0 0 rg BT 510.36 372.95 Td (driven ) Tj ET Q q 0 0 0 rg BT 537.43 372.95 Td (by ) Tj ET Q q 0 0 0 rg BT 549.49 372.95 Td (our ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 359.45 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 124.52 359.45 Td (program ) Tj ET Q q 0 0 0 rg BT 160.53 359.45 Td (and ) Tj ET Q q 0 0 0 rg BT 178.05 359.45 Td (a ) Tj ET Q q 0 0 0 rg BT 185.55 359.45 Td (better ) Tj ET Q q 0 0 0 rg BT 211.07 359.45 Td (mix ) Tj ET Q q 0 0 0 rg BT 227.57 359.45 Td (of ) Tj ET Q q 0 0 0 rg BT 237.57 359.45 Td (profitable ) Tj ET Q q 0 0 0 rg BT 277.10 359.45 Td (revenue.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 333.65 Td (3.6.1. ) Tj ET Q q 0 0 0 rg BT 98.52 333.65 Td (U.S.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 317.15 Td (For ) Tj ET Q q 0 0 0 rg BT 87.70 317.15 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 102.40 317.15 Td (year ) Tj ET Q q 0 0 0 rg BT 122.10 317.15 Td (ended ) Tj ET Q q 0 0 0 rg BT 149.33 317.15 Td (September ) Tj ET Q q 0 0 0 rg BT 195.55 317.15 Td (30, ) Tj ET Q q 0 0 0 rg BT 210.25 317.15 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 230.27 317.15 Td (, ) Tj ET Q q 0 0 0 rg BT 234.97 317.15 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 271.19 317.15 Td (EBIT) Tj ET Q q 0 0 0 rg BT 291.03 317.15 Td ( ) Tj ET Q q 0 0 0 rg BT 293.23 317.15 Td (in ) Tj ET Q q 0 0 0 rg BT 302.43 317.15 Td (the ) Tj ET Q q 0 0 0 rg BT 317.14 317.15 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 336.83 317.15 Td (segment ) Tj ET Q q 0 0 0 rg BT 373.55 317.15 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 391.75 317.15 Td ($486.3 ) Tj ET Q q 0 0 0 rg BT 421.47 317.15 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 446.98 317.15 Td (, ) Tj ET Q q 0 0 0 rg BT 451.67 317.15 Td (an ) Tj ET Q q 0 0 0 rg BT 463.88 317.15 Td (increase ) Tj ET Q q 0 0 0 rg BT 500.09 317.15 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 509.79 317.15 Td ($32.0 ) Tj ET Q q 0 0 0 rg BT 534.51 317.15 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 560.02 317.15 Td (. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 303.65 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 109.13 303.65 Td (EBIT) Tj ET Q q 0 0 0 rg BT 128.97 303.65 Td ( ) Tj ET Q q 0 0 0 rg BT 131.08 303.65 Td (margin ) Tj ET Q q 0 0 0 rg BT 160.69 303.65 Td (increased ) Tj ET Q q 0 0 0 rg BT 201.82 303.65 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 211.43 303.65 Td (16.9%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 236.95 303.65 Td ( ) Tj ET Q q 0 0 0 rg BT 239.06 303.65 Td (from ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 259.17 303.65 Td (16.2%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 284.68 303.65 Td ( ) Tj ET Q q 0 0 0 rg BT 286.79 303.65 Td (mostly ) Tj ET Q q 0 0 0 rg BT 314.90 303.65 Td (due ) Tj ET Q q 0 0 0 rg BT 332.02 303.65 Td (to ) Tj ET Q q 0 0 0 rg BT 341.63 303.65 Td (additional ) Tj ET Q q 0 0 0 rg BT 382.27 303.65 Td (research ) Tj ET Q q 0 0 0 rg BT 419.39 303.65 Td (and ) Tj ET Q q 0 0 0 rg BT 436.51 303.65 Td (development ) Tj ET Q q 0 0 0 rg BT 490.15 303.65 Td (tax ) Tj ET Q q 0 0 0 rg BT 504.27 303.65 Td (credits ) Tj ET Q q 0 0 0 rg BT 532.88 303.65 Td (and ) Tj ET Q q 0 0 0 rg BT 550.00 303.65 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 290.15 Td (decrease ) Tj ET Q q 0 0 0 rg BT 111.52 290.15 Td (in ) Tj ET Q q 0 0 0 rg BT 121.03 290.15 Td (amortization ) Tj ET Q q 0 0 0 rg BT 172.55 290.15 Td (of ) Tj ET Q q 0 0 0 rg BT 182.56 290.15 Td (client ) Tj ET Q q 0 0 0 rg BT 206.07 290.15 Td (relationships ) Tj ET Q q 0 0 0 rg BT 259.10 290.15 Td (related ) Tj ET Q q 0 0 0 rg BT 289.12 290.15 Td (to ) Tj ET Q q 0 0 0 rg BT 299.12 290.15 Td (the ) Tj ET Q q 0 0 0 rg BT 314.13 290.15 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 359.16 290.15 Td (of ) Tj ET Q q 0 0 0 rg BT 369.17 290.15 Td (Stanley) Tj ET Q q 0 0 0 rg BT 398.52 290.15 Td (, ) Tj ET Q q 0 0 0 rg BT 403.52 290.15 Td (Inc. ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 264.35 Td (3.6.2. ) Tj ET Q q 0 0 0 rg BT 98.52 264.35 Td (Nordics) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 247.85 Td (For ) Tj ET Q q 0 0 0 rg BT 88.60 247.85 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 104.21 247.85 Td (year ) Tj ET Q q 0 0 0 rg BT 124.82 247.85 Td (ended ) Tj ET Q q 0 0 0 rg BT 152.95 247.85 Td (September ) Tj ET Q q 0 0 0 rg BT 200.07 247.85 Td (30, ) Tj ET Q q 0 0 0 rg BT 215.68 247.85 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 235.70 247.85 Td (, ) Tj ET Q q 0 0 0 rg BT 241.30 247.85 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 278.43 247.85 Td (EBIT) Tj ET Q q 0 0 0 rg BT 298.27 247.85 Td ( ) Tj ET Q q 0 0 0 rg BT 301.37 247.85 Td (in ) Tj ET Q q 0 0 0 rg BT 311.48 247.85 Td (the ) Tj ET Q q 0 0 0 rg BT 327.09 247.85 Td (Nordics ) Tj ET Q q 0 0 0 rg BT 360.70 247.85 Td (segment ) Tj ET Q q 0 0 0 rg BT 398.31 247.85 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 417.42 247.85 Td ($186.7 ) Tj ET Q q 0 0 0 rg BT 448.05 247.85 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.55 247.85 Td (, ) Tj ET Q q 0 0 0 rg BT 479.15 247.85 Td (an ) Tj ET Q q 0 0 0 rg BT 492.26 247.85 Td (increase ) Tj ET Q q 0 0 0 rg BT 529.38 247.85 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 539.99 247.85 Td ($32.9 ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 234.35 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 97.51 234.35 Td (, ) Tj ET Q q 0 0 0 rg BT 102.89 234.35 Td (while ) Tj ET Q q 0 0 0 rg BT 126.29 234.35 Td (the ) Tj ET Q q 0 0 0 rg BT 141.69 234.35 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 178.60 234.35 Td (EBIT) Tj ET Q q 0 0 0 rg BT 198.45 234.35 Td ( ) Tj ET Q q 0 0 0 rg BT 201.33 234.35 Td (margin ) Tj ET Q q 0 0 0 rg BT 231.73 234.35 Td (improved ) Tj ET Q q 0 0 0 rg BT 271.63 234.35 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 282.03 234.35 Td (1) Tj ET Q q 0 0 0 rg BT 286.36 234.35 Td (1.3%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.88 234.35 Td ( ) Tj ET Q q 0 0 0 rg BT 309.77 234.35 Td (from ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 330.65 234.35 Td (9.4%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 351.17 234.35 Td (. ) Tj ET Q q 0 0 0 rg BT 356.37 234.35 Td (The ) Tj ET Q q 0 0 0 rg BT 374.76 234.35 Td (increase ) Tj ET Q q 0 0 0 rg BT 411.67 234.35 Td (in ) Tj ET Q q 0 0 0 rg BT 421.56 234.35 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 458.48 234.35 Td (EBIT) Tj ET Q q 0 0 0 rg BT 478.32 234.35 Td ( ) Tj ET Q q 0 0 0 rg BT 481.21 234.35 Td (margin ) Tj ET Q q 0 0 0 rg BT 511.60 234.35 Td (came ) Tj ET Q q 0 0 0 rg BT 536.50 234.35 Td (mainly ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 220.85 Td (from ) Tj ET Q q 0 0 0 rg BT 93.65 220.85 Td (the ) Tj ET Q q 0 0 0 rg BT 109.81 220.85 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 145.50 220.85 Td (cost ) Tj ET Q q 0 0 0 rg BT 165.66 220.85 Td (synergies ) Tj ET Q q 0 0 0 rg BT 207.83 220.85 Td (within ) Tj ET Q q 0 0 0 rg BT 234.49 220.85 Td (our ) Tj ET Q q 0 0 0 rg BT 251.15 220.85 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 307.32 220.85 Td (business, ) Tj ET Q q 0 0 0 rg BT 348.99 220.85 Td (the ) Tj ET Q q 0 0 0 rg BT 365.15 220.85 Td (improved ) Tj ET Q q 0 0 0 rg BT 405.82 220.85 Td (delivery ) Tj ET Q q 0 0 0 rg BT 440.49 220.85 Td (performance, ) Tj ET Q q 0 0 0 rg BT 497.16 220.85 Td (and ) Tj ET Q q 0 0 0 rg BT 515.83 220.85 Td (the ) Tj ET Q q 0 0 0 rg BT 531.99 220.85 Td (savings ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 207.35 Td (generated ) Tj ET Q q 0 0 0 rg BT 115.04 207.35 Td (from ) Tj ET Q q 0 0 0 rg BT 135.54 207.35 Td (the ) Tj ET Q q 0 0 0 rg BT 150.55 207.35 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 203.07 207.35 Td (program. ) Tj ET Q endstream endobj 43 0 obj <> endobj 44 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (20) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (3.6.3. ) Tj ET Q q 0 0 0 rg BT 98.52 708.95 Td (Canada) Tj ET Q BT /F3 9.00 Tf ET 1 1 1 rg /GS0 gs 72.00 699.00 29.75 -8.45 re f /GS0 gs q 0 0 0 rg BT 72.00 692.45 Td (For ) Tj ET Q q 0 0 0 rg BT 87.37 692.45 Td (the ) Tj ET Q BT /F3 9.00 Tf ET 1 1 1 rg /GS0 gs 101.75 699.00 126.57 -8.45 re f /GS0 gs q 0 0 0 rg BT 101.75 692.45 Td (year ) Tj ET Q q 0 0 0 rg BT 121.13 692.45 Td (ended ) Tj ET Q q 0 0 0 rg BT 148.02 692.45 Td (September ) Tj ET Q q 0 0 0 rg BT 193.92 692.45 Td (30, ) Tj ET Q q 0 0 0 rg BT 208.30 692.45 Td (2016) Tj ET Q BT /F3 9.00 Tf ET 1 1 1 rg /GS0 gs 228.32 699.00 172.89 -8.45 re f /GS0 gs q 0 0 0 rg BT 228.32 692.45 Td (, ) Tj ET Q q 0 0 0 rg BT 232.69 692.45 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 268.58 692.45 Td (EBIT) Tj ET Q q 0 0 0 rg BT 288.42 692.45 Td ( ) Tj ET Q q 0 0 0 rg BT 290.29 692.45 Td (in ) Tj ET Q q 0 0 0 rg BT 299.17 692.45 Td (the ) Tj ET Q q 0 0 0 rg BT 313.55 692.45 Td (Canada ) Tj ET Q q 0 0 0 rg BT 346.94 692.45 Td (segment ) Tj ET Q q 0 0 0 rg BT 383.33 692.45 Td (was ) Tj ET Q BT /F3 9.00 Tf ET 1 1 1 rg /GS0 gs 401.21 699.00 54.90 -8.45 re f /GS0 gs q 0 0 0 rg BT 401.21 692.45 Td ($345.5 ) Tj ET Q q 0 0 0 rg BT 430.60 692.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET 1 1 1 rg /GS0 gs 456.11 699.00 23.25 -8.45 re f /GS0 gs q 0 0 0 rg BT 456.11 692.45 Td (, ) Tj ET Q q 0 0 0 rg BT 460.48 692.45 Td (an ) Tj ET Q q 0 0 0 rg BT 472.36 692.45 Td (in) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 479.36 692.45 Td (crease ) Tj ET Q q 0 0 0 rg BT 508.25 692.45 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 517.62 692.45 Td ($1.8 ) Tj ET Q q 0 0 0 rg BT 537.01 692.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 678.95 Td (compared ) Tj ET Q q 0 0 0 rg BT 115.17 678.95 Td (to ) Tj ET Q q 0 0 0 rg BT 125.83 678.95 Td (the ) Tj ET Q q 0 0 0 rg BT 141.50 678.95 Td (same ) Tj ET Q q 0 0 0 rg BT 166.66 678.95 Td (period ) Tj ET Q q 0 0 0 rg BT 194.83 678.95 Td (last ) Tj ET Q q 0 0 0 rg BT 211.99 678.95 Td (year) Tj ET Q q 0 0 0 rg BT 229.00 678.95 Td (, ) Tj ET Q q 0 0 0 rg BT 234.66 678.95 Td (while ) Tj ET Q q 0 0 0 rg BT 258.32 678.95 Td (the ) Tj ET Q q 0 0 0 rg BT 273.99 678.95 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 311.17 678.95 Td (EBIT) Tj ET Q q 0 0 0 rg BT 331.01 678.95 Td ( ) Tj ET Q q 0 0 0 rg BT 334.16 678.95 Td (margin ) Tj ET Q q 0 0 0 rg BT 364.83 678.95 Td (was ) Tj ET Q q 0 0 0 rg BT 383.98 678.95 Td (stable ) Tj ET Q q 0 0 0 rg BT 411.15 678.95 Td (when ) Tj ET Q q 0 0 0 rg BT 435.82 678.95 Td (compared ) Tj ET Q q 0 0 0 rg BT 479.00 678.95 Td (to ) Tj ET Q q 0 0 0 rg BT 489.66 678.95 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 513.32 678.95 Td (2015. ) Tj ET Q q 0 0 0 rg BT 538.99 678.95 Td (When ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 665.45 Td (excluding ) Tj ET Q q 0 0 0 rg BT 112.69 665.45 Td (the ) Tj ET Q q 0 0 0 rg BT 127.86 665.45 Td (positive ) Tj ET Q q 0 0 0 rg BT 161.04 665.45 Td (impact ) Tj ET Q q 0 0 0 rg BT 190.21 665.45 Td (of ) Tj ET Q q 0 0 0 rg BT 200.38 665.45 Td (a ) Tj ET Q q 0 0 0 rg BT 208.05 665.45 Td (client ) Tj ET Q q 0 0 0 rg BT 231.72 665.45 Td (arbitration ) Tj ET Q q 0 0 0 rg BT 274.41 665.45 Td (award ) Tj ET Q q 0 0 0 rg BT 301.58 665.45 Td (in ) Tj ET Q q 0 0 0 rg BT 311.25 665.45 Td (Q3 ) Tj ET Q q 0 0 0 rg BT 325.92 665.45 Td (2015, ) Tj ET Q q 0 0 0 rg BT 351.11 665.45 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 387.80 665.45 Td (EBIT) Tj ET Q q 0 0 0 rg BT 407.64 665.45 Td ( ) Tj ET Q q 0 0 0 rg BT 410.30 665.45 Td (increased ) Tj ET Q q 0 0 0 rg BT 451.99 665.45 Td (by ) Tj ET Q q 0 0 0 rg BT 464.15 665.45 Td (1.1% ) Tj ET Q q 0 0 0 rg BT 487.33 665.45 Td (due ) Tj ET Q q 0 0 0 rg BT 505.01 665.45 Td (to ) Tj ET Q q 0 0 0 rg BT 515.18 665.45 Td (a ) Tj ET Q q 0 0 0 rg BT 522.85 665.45 Td (better ) Tj ET Q q 0 0 0 rg BT 548.53 665.45 Td (mix ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 651.95 Td (of ) Tj ET Q q 0 0 0 rg BT 82.01 651.95 Td (profitable ) Tj ET Q q 0 0 0 rg BT 121.53 651.95 Td (revenue, ) Tj ET Q q 0 0 0 rg BT 159.06 651.95 Td (and ) Tj ET Q q 0 0 0 rg BT 176.57 651.95 Td (growth ) Tj ET Q q 0 0 0 rg BT 206.09 651.95 Td (in ) Tj ET Q q 0 0 0 rg BT 215.59 651.95 Td (the ) Tj ET Q q 0 0 0 rg BT 230.60 651.95 Td (financial ) Tj ET Q q 0 0 0 rg BT 266.12 651.95 Td (services ) Tj ET Q q 0 0 0 rg BT 301.63 651.95 Td (sector) Tj ET Q q 0 0 0 rg BT 325.64 651.95 Td (.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 626.15 Td (3.6.4. ) Tj ET Q q 0 0 0 rg BT 98.52 626.15 Td (France) Tj ET Q BT /F3 9.00 Tf ET 1 1 1 rg /GS0 gs 72.00 616.20 29.60 -8.45 re f /GS0 gs q 0 0 0 rg BT 72.00 609.65 Td (For ) Tj ET Q q 0 0 0 rg BT 87.29 609.65 Td (the ) Tj ET Q BT /F3 9.00 Tf ET 1 1 1 rg /GS0 gs 101.60 616.20 126.27 -8.45 re f /GS0 gs q 0 0 0 rg BT 101.60 609.65 Td (year ) Tj ET Q q 0 0 0 rg BT 120.90 609.65 Td (ended ) Tj ET Q q 0 0 0 rg BT 147.73 609.65 Td (September ) Tj ET Q q 0 0 0 rg BT 193.54 609.65 Td (30, ) Tj ET Q q 0 0 0 rg BT 207.85 609.65 Td (2016) Tj ET Q BT /F3 9.00 Tf ET 1 1 1 rg /GS0 gs 227.87 616.20 168.78 -8.45 re f /GS0 gs q 0 0 0 rg BT 227.87 609.65 Td (, ) Tj ET Q q 0 0 0 rg BT 232.17 609.65 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 267.99 609.65 Td (EBIT) Tj ET Q q 0 0 0 rg BT 287.83 609.65 Td ( ) Tj ET Q q 0 0 0 rg BT 289.63 609.65 Td (in ) Tj ET Q q 0 0 0 rg BT 298.43 609.65 Td (the ) Tj ET Q q 0 0 0 rg BT 312.73 609.65 Td (France ) Tj ET Q q 0 0 0 rg BT 342.54 609.65 Td (segment ) Tj ET Q q 0 0 0 rg BT 378.85 609.65 Td (was ) Tj ET Q BT /F3 9.00 Tf ET 1 1 1 rg /GS0 gs 396.65 616.20 54.83 -8.45 re f /GS0 gs q 0 0 0 rg BT 396.65 609.65 Td ($174.7 ) Tj ET Q q 0 0 0 rg BT 425.97 609.65 Td (million) Tj ET Q BT /F3 9.00 Tf ET 1 1 1 rg /GS0 gs 451.48 616.20 61.21 -8.45 re f /GS0 gs q 0 0 0 rg BT 451.48 609.65 Td (, ) Tj ET Q q 0 0 0 rg BT 455.77 609.65 Td (an ) Tj ET Q q 0 0 0 rg BT 467.58 609.65 Td (increase ) Tj ET Q q 0 0 0 rg BT 503.39 609.65 Td (of ) Tj ET Q BT /F3 9.00 Tf ET 1 1 1 rg /GS0 gs 512.69 616.20 49.82 -8.45 re f /GS0 gs q 0 0 0 rg BT 512.69 609.65 Td ($28.1 ) Tj ET Q q 0 0 0 rg BT 537.01 609.65 Td (million) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET 1 1 1 rg /GS0 gs 72.00 602.70 179.03 -8.45 re f /GS0 gs q 0 0 0 rg BT 72.00 596.15 Td (when ) Tj ET Q q 0 0 0 rg BT 95.65 596.15 Td (compared ) Tj ET Q q 0 0 0 rg BT 137.81 596.15 Td (to ) Tj ET Q q 0 0 0 rg BT 147.46 596.15 Td (the ) Tj ET Q q 0 0 0 rg BT 162.11 596.15 Td (same ) Tj ET Q q 0 0 0 rg BT 186.26 596.15 Td (period ) Tj ET Q q 0 0 0 rg BT 213.41 596.15 Td (last ) Tj ET Q q 0 0 0 rg BT 229.56 596.15 Td (year) Tj ET Q q 0 0 0 rg BT 246.57 596.15 Td (. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 250.79 596.15 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 287.95 596.15 Td (EBIT) Tj ET Q q 0 0 0 rg BT 307.79 596.15 Td ( ) Tj ET Q q 0 0 0 rg BT 309.93 596.15 Td (margin ) Tj ET Q q 0 0 0 rg BT 339.58 596.15 Td (improved ) Tj ET Q q 0 0 0 rg BT 378.73 596.15 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.38 596.15 Td (12.1%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 413.90 596.15 Td ( ) Tj ET Q q 0 0 0 rg BT 416.04 596.15 Td (from ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 436.17 596.15 Td (1) Tj ET Q q 0 0 0 rg BT 440.51 596.15 Td (1.4%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 461.03 596.15 Td (. ) Tj ET Q q 0 0 0 rg BT 465.53 596.15 Td (The ) Tj ET Q q 0 0 0 rg BT 483.17 596.15 Td (increase ) Tj ET Q q 0 0 0 rg BT 519.33 596.15 Td (in ) Tj ET Q q 0 0 0 rg BT 528.48 596.15 Td (adjusted ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 582.65 Td (EBIT) Tj ET Q q 0 0 0 rg BT 91.84 582.65 Td ( ) Tj ET Q q 0 0 0 rg BT 94.34 582.65 Td (margin ) Tj ET Q q 0 0 0 rg BT 124.35 582.65 Td (was ) Tj ET Q q 0 0 0 rg BT 142.86 582.65 Td (mostly ) Tj ET Q q 0 0 0 rg BT 171.36 582.65 Td (due ) Tj ET Q q 0 0 0 rg BT 188.88 582.65 Td (to ) Tj ET Q q 0 0 0 rg BT 198.88 582.65 Td (improved ) Tj ET Q q 0 0 0 rg BT 238.40 582.65 Td (utilization ) Tj ET Q q 0 0 0 rg BT 278.42 582.65 Td (rates ) Tj ET Q q 0 0 0 rg BT 300.93 582.65 Td (on ) Tj ET Q q 0 0 0 rg BT 313.44 582.65 Td (a ) Tj ET Q q 0 0 0 rg BT 320.95 582.65 Td (year-over-year ) Tj ET Q q 0 0 0 rg BT 381.96 582.65 Td (basis. ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 556.85 Td (3.6.5. ) Tj ET Q q 0 0 0 rg BT 98.52 556.85 Td (U.K.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 540.35 Td (For ) Tj ET Q q 0 0 0 rg BT 88.17 540.35 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.35 540.35 Td (year ) Tj ET Q q 0 0 0 rg BT 123.53 540.35 Td (ended ) Tj ET Q q 0 0 0 rg BT 151.23 540.35 Td (September ) Tj ET Q q 0 0 0 rg BT 197.92 540.35 Td (30, ) Tj ET Q q 0 0 0 rg BT 213.10 540.35 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 233.13 540.35 Td (, ) Tj ET Q q 0 0 0 rg BT 238.30 540.35 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 274.99 540.35 Td (EBIT) Tj ET Q q 0 0 0 rg BT 294.83 540.35 Td ( ) Tj ET Q q 0 0 0 rg BT 297.51 540.35 Td (in ) Tj ET Q q 0 0 0 rg BT 307.18 540.35 Td (the ) Tj ET Q q 0 0 0 rg BT 322.36 540.35 Td (U.K. ) Tj ET Q q 0 0 0 rg BT 342.54 540.35 Td (segment ) Tj ET Q q 0 0 0 rg BT 379.73 540.35 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 398.40 540.35 Td ($154.3 ) Tj ET Q q 0 0 0 rg BT 428.60 540.35 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 454.10 540.35 Td (, ) Tj ET Q q 0 0 0 rg BT 459.28 540.35 Td (a ) Tj ET Q q 0 0 0 rg BT 466.95 540.35 Td (decrease ) Tj ET Q q 0 0 0 rg BT 506.65 540.35 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 516.82 540.35 Td ($9.3 ) Tj ET Q q 0 0 0 rg BT 537.01 540.35 Td (million) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 526.85 Td (when ) Tj ET Q q 0 0 0 rg BT 96.28 526.85 Td (compared ) Tj ET Q q 0 0 0 rg BT 139.06 526.85 Td (to ) Tj ET Q q 0 0 0 rg BT 149.33 526.85 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 172.59 526.85 Td (2015. ) Tj ET Q q 0 0 0 rg BT 197.33 526.85 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 235.12 526.85 Td (EBIT) Tj ET Q q 0 0 0 rg BT 254.96 526.85 Td ( ) Tj ET Q q 0 0 0 rg BT 257.72 526.85 Td (margin ) Tj ET Q q 0 0 0 rg BT 287.99 526.85 Td (decreased ) Tj ET Q q 0 0 0 rg BT 332.78 526.85 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 343.05 526.85 Td (10.8%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 368.57 526.85 Td ( ) Tj ET Q q 0 0 0 rg BT 371.33 526.85 Td (from ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.09 526.85 Td (12.3%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 417.61 526.85 Td ( ) Tj ET Q q 0 0 0 rg BT 420.37 526.85 Td (mostly ) Tj ET Q q 0 0 0 rg BT 449.14 526.85 Td (due ) Tj ET Q q 0 0 0 rg BT 466.91 526.85 Td (to ) Tj ET Q q 0 0 0 rg BT 477.18 526.85 Td (the ) Tj ET Q q 0 0 0 rg BT 492.45 526.85 Td (positive ) Tj ET Q q 0 0 0 rg BT 525.73 526.85 Td (impact ) Tj ET Q q 0 0 0 rg BT 555.00 526.85 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 513.35 Td (additional ) Tj ET Q q 0 0 0 rg BT 113.03 513.35 Td (change ) Tj ET Q q 0 0 0 rg BT 145.06 513.35 Td (orders ) Tj ET Q q 0 0 0 rg BT 173.07 513.35 Td (on ) Tj ET Q q 0 0 0 rg BT 185.58 513.35 Td (certain ) Tj ET Q q 0 0 0 rg BT 215.09 513.35 Td (large ) Tj ET Q q 0 0 0 rg BT 237.61 513.35 Td (contracts ) Tj ET Q q 0 0 0 rg BT 276.62 513.35 Td (in ) Tj ET Q q 0 0 0 rg BT 286.13 513.35 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 309.13 513.35 Td (2015. ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 487.55 Td ( ) Tj ET Q q 0 0 0 rg BT 76.00 487.55 Td (3.6.6. ) Tj ET Q q 0 0 0 rg BT 101.02 487.55 Td (ECS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 471.05 Td (For ) Tj ET Q q 0 0 0 rg BT 87.70 471.05 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 102.42 471.05 Td (year ) Tj ET Q q 0 0 0 rg BT 122.13 471.05 Td (ended ) Tj ET Q q 0 0 0 rg BT 149.36 471.05 Td (September ) Tj ET Q q 0 0 0 rg BT 195.58 471.05 Td (30, ) Tj ET Q q 0 0 0 rg BT 210.30 471.05 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 230.32 471.05 Td (, ) Tj ET Q q 0 0 0 rg BT 235.02 471.05 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 271.25 471.05 Td (EBIT) Tj ET Q q 0 0 0 rg BT 291.09 471.05 Td ( ) Tj ET Q q 0 0 0 rg BT 293.30 471.05 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 311.50 471.05 Td ($1) Tj ET Q q 0 0 0 rg BT 320.85 471.05 Td (14.3 ) Tj ET Q q 0 0 0 rg BT 340.56 471.05 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 366.07 471.05 Td (, ) Tj ET Q q 0 0 0 rg BT 370.77 471.05 Td (a ) Tj ET Q q 0 0 0 rg BT 377.98 471.05 Td (decrease ) Tj ET Q q 0 0 0 rg BT 417.21 471.05 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 426.92 471.05 Td ($3.9 ) Tj ET Q q 0 0 0 rg BT 446.64 471.05 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.14 471.05 Td ( ) Tj ET Q q 0 0 0 rg BT 474.34 471.05 Td (when ) Tj ET Q q 0 0 0 rg BT 498.06 471.05 Td (compared ) Tj ET Q q 0 0 0 rg BT 540.29 471.05 Td (to ) Tj ET Q q 0 0 0 rg BT 550.00 471.05 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 457.55 Td (same ) Tj ET Q q 0 0 0 rg BT 96.64 457.55 Td (period ) Tj ET Q q 0 0 0 rg BT 124.29 457.55 Td (last ) Tj ET Q q 0 0 0 rg BT 140.93 457.55 Td (year) Tj ET Q q 0 0 0 rg BT 157.94 457.55 Td (. ) Tj ET Q q 0 0 0 rg BT 162.55 457.55 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 200.21 457.55 Td (EBIT) Tj ET Q q 0 0 0 rg BT 220.05 457.55 Td ( ) Tj ET Q q 0 0 0 rg BT 222.68 457.55 Td (margin ) Tj ET Q q 0 0 0 rg BT 252.82 457.55 Td (was ) Tj ET Q q 0 0 0 rg BT 271.46 457.55 Td (essentially ) Tj ET Q q 0 0 0 rg BT 316.11 457.55 Td (stable ) Tj ET Q q 0 0 0 rg BT 342.76 457.55 Td (with ) Tj ET Q q 0 0 0 rg BT 361.40 457.55 Td (productivity ) Tj ET Q q 0 0 0 rg BT 409.55 457.55 Td (improvements ) Tj ET Q q 0 0 0 rg BT 468.70 457.55 Td (being ) Tj ET Q q 0 0 0 rg BT 493.35 457.55 Td (of) Tj ET Q q 0 0 0 rg BT 500.70 457.55 Td (fset ) Tj ET Q q 0 0 0 rg BT 517.83 457.55 Td (by ) Tj ET Q q 0 0 0 rg BT 529.97 457.55 Td (revenue ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 444.05 Td (impacts ) Tj ET Q q 0 0 0 rg BT 105.51 444.05 Td (in ) Tj ET Q q 0 0 0 rg BT 115.01 444.05 Td (the ) Tj ET Q q 0 0 0 rg BT 130.03 444.05 Td (Netherlands ) Tj ET Q q 0 0 0 rg BT 181.05 444.05 Td (as ) Tj ET Q q 0 0 0 rg BT 193.06 444.05 Td (described ) Tj ET Q q 0 0 0 rg BT 234.58 444.05 Td (in ) Tj ET Q q 0 0 0 rg BT 244.09 444.05 Td (the ) Tj ET Q q 0 0 0 rg BT 259.10 444.05 Td (revenue ) Tj ET Q q 0 0 0 rg BT 294.13 444.05 Td (section.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 418.25 Td (3.6.7. ) Tj ET Q q 0 0 0 rg BT 98.18 418.25 Td (Asia ) Tj ET Q q 0 0 0 rg BT 119.70 418.25 Td (Pacific) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 401.75 Td (For ) Tj ET Q q 0 0 0 rg BT 88.17 401.75 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.35 401.75 Td (year ) Tj ET Q q 0 0 0 rg BT 123.53 401.75 Td (ended ) Tj ET Q q 0 0 0 rg BT 151.23 401.75 Td (September ) Tj ET Q q 0 0 0 rg BT 197.93 401.75 Td (30, ) Tj ET Q q 0 0 0 rg BT 213.11 401.75 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 233.13 401.75 Td (, ) Tj ET Q q 0 0 0 rg BT 238.30 401.75 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 275.00 401.75 Td (EBIT) Tj ET Q q 0 0 0 rg BT 294.84 401.75 Td ( ) Tj ET Q q 0 0 0 rg BT 297.51 401.75 Td (in ) Tj ET Q q 0 0 0 rg BT 307.19 401.75 Td (the ) Tj ET Q q 0 0 0 rg BT 321.84 401.75 Td (Asia ) Tj ET Q q 0 0 0 rg BT 342.02 401.75 Td (Pacific ) Tj ET Q q 0 0 0 rg BT 371.20 401.75 Td (segment ) Tj ET Q q 0 0 0 rg BT 408.39 401.75 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 427.07 401.75 Td ($98.6 ) Tj ET Q q 0 0 0 rg BT 452.26 401.75 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 477.77 401.75 Td ( ) Tj ET Q q 0 0 0 rg BT 480.44 401.75 Td (an ) Tj ET Q q 0 0 0 rg BT 493.12 401.75 Td (increase ) Tj ET Q q 0 0 0 rg BT 529.81 401.75 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 539.99 401.75 Td ($21.5 ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 388.25 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 97.51 388.25 Td (, ) Tj ET Q q 0 0 0 rg BT 102.94 388.25 Td (while ) Tj ET Q q 0 0 0 rg BT 126.39 388.25 Td (the ) Tj ET Q q 0 0 0 rg BT 141.84 388.25 Td (margin ) Tj ET Q q 0 0 0 rg BT 172.28 388.25 Td (improved ) Tj ET Q q 0 0 0 rg BT 212.23 388.25 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 222.68 388.25 Td (18.2%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 248.20 388.25 Td ( ) Tj ET Q q 0 0 0 rg BT 251.13 388.25 Td (from ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 272.07 388.25 Td (16.2%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 297.59 388.25 Td ( ) Tj ET Q q 0 0 0 rg BT 300.52 388.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 343.48 388.25 Td (to ) Tj ET Q q 0 0 0 rg BT 353.92 388.25 Td (the ) Tj ET Q q 0 0 0 rg BT 369.37 388.25 Td (same ) Tj ET Q q 0 0 0 rg BT 394.32 388.25 Td (period ) Tj ET Q q 0 0 0 rg BT 422.27 388.25 Td (last ) Tj ET Q q 0 0 0 rg BT 439.21 388.25 Td (year ) Tj ET Q q 0 0 0 rg BT 459.66 388.25 Td (mostly ) Tj ET Q q 0 0 0 rg BT 488.60 388.25 Td (due ) Tj ET Q q 0 0 0 rg BT 506.55 388.25 Td (to ) Tj ET Q q 0 0 0 rg BT 516.99 388.25 Td (productivity ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 374.75 Td (improvements ) Tj ET Q q 0 0 0 rg BT 131.02 374.75 Td (across ) Tj ET Q q 0 0 0 rg BT 160.03 374.75 Td (their ) Tj ET Q q 0 0 0 rg BT 180.04 374.75 Td (global ) Tj ET Q q 0 0 0 rg BT 206.56 374.75 Td (delivery ) Tj ET Q q 0 0 0 rg BT 240.07 374.75 Td (centers.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 348.95 Td (3.7. ) Tj ET Q q 0 0 0 rg BT 91.01 348.95 Td (EARNINGS ) Tj ET Q q 0 0 0 rg BT 141.02 348.95 Td (BEFORE ) Tj ET Q q 0 0 0 rg BT 181.02 348.95 Td (INCOME ) Tj ET Q q 0 0 0 rg BT 219.52 348.95 Td (T) Tj ET Q q 0 0 0 rg BT 224.35 348.95 Td (AXES) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 332.45 Td (The ) Tj ET Q q 0 0 0 rg BT 89.68 332.45 Td (following ) Tj ET Q q 0 0 0 rg BT 126.87 332.45 Td (table ) Tj ET Q q 0 0 0 rg BT 148.56 332.45 Td (provides ) Tj ET Q q 0 0 0 rg BT 184.75 332.45 Td (a ) Tj ET Q q 0 0 0 rg BT 191.92 332.45 Td (reconciliation ) Tj ET Q q 0 0 0 rg BT 246.62 332.45 Td (between ) Tj ET Q q 0 0 0 rg BT 282.82 332.45 Td (our ) Tj ET Q q 0 0 0 rg BT 298.00 332.45 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 334.20 332.45 Td (EBIT) Tj ET Q q 0 0 0 rg BT 354.04 332.45 Td ( ) Tj ET Q q 0 0 0 rg BT 356.21 332.45 Td (and ) Tj ET Q q 0 0 0 rg BT 373.39 332.45 Td (earnings ) Tj ET Q q 0 0 0 rg BT 410.09 332.45 Td (before ) Tj ET Q q 0 0 0 rg BT 437.78 332.45 Td (income ) Tj ET Q q 0 0 0 rg BT 468.96 332.45 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 495.15 332.45 Td (which ) Tj ET Q q 0 0 0 rg BT 520.33 332.45 Td (is ) Tj ET Q q 0 0 0 rg BT 529.00 332.45 Td (reported ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 318.95 Td (in ) Tj ET Q q 0 0 0 rg BT 81.51 318.95 Td (accordance ) Tj ET Q q 0 0 0 rg BT 130.54 318.95 Td (with ) Tj ET Q q 0 0 0 rg BT 149.04 318.95 Td (IFRS.) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 72.50 308.45 147.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 219.50 308.45 58.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 277.50 308.45 59.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 336.50 308.45 57.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 393.50 308.45 59.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 452.50 308.45 109.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 452.50 295.45 54.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 506.50 295.45 55.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 219.50 282.45 58.00 -12.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 277.50 282.45 59.00 -12.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 219.50 270.45 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 277.50 270.45 59.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 219.50 257.45 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 277.50 257.45 59.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 219.50 244.45 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 277.50 244.45 59.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 219.50 231.45 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 277.50 231.45 59.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 218.45 147.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 219.50 218.45 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 277.50 218.45 59.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 336.50 218.45 57.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 393.50 218.45 59.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 452.50 218.45 54.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 506.50 218.45 55.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 308.45000000000005 m 219.5 308.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 219.5 308.45000000000005 m 277.5 308.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 277.5 308.45000000000005 m 336.5 308.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 336.5 308.45000000000005 m 393.5 308.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 393.5 308.45000000000005 m 452.5 308.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 452.5 308.45000000000005 m 506.5 308.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 506.5 308.45000000000005 m 561.5 308.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 205.45000000000005 m 219.5 205.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 219.5 205.45000000000005 m 277.5 205.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 277.5 205.45000000000005 m 336.5 205.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 336.5 205.45000000000005 m 393.5 205.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 393.5 205.45000000000005 m 452.5 205.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 452.5 205.45000000000005 m 506.5 205.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 506.5 205.45000000000005 m 561.5 205.45000000000005 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 75.00 286.68 Td (For the years ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 250.20 286.68 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 280.50 286.68 Td (% of Revenue) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 366.20 286.68 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 396.50 286.68 Td (% of Revenue) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 494.00 299.68 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 482.00 286.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 536.00 286.68 Td (%) Tj ET Q BT /F4 7.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 75.00 274.65 Td (In thousands of CAD except for percentage) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 262.13 Td (Adjusted EBIT) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 232.70 261.68 Td (1,560,311) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 307.25 261.93 Td (14.6) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 322.85 261.98 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 348.70 261.73 Td (1,457,308) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 426.55 261.68 Td (14.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 442.20 261.68 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.90 261.68 Td (103,003) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 534.05 261.93 Td (7.1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.20 261.93 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 75.00 249.13 Td (Minus the following items:) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 87.00 235.93 Td (Restructuring costs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 243.75 235.68 Td (29,100) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 311.70 235.93 Td (0.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 322.85 235.98 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 359.80 235.73 Td (35,903) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 431.05 235.68 Td (0.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 442.20 235.68 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.15 235.68 Td (\(6,803) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 498.85 235.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.95 235.93 Td (\(18.9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.20 235.93 Td (%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 87.00 223.13 Td (Net finance costs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 243.75 222.68 Td (78,426) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 311.70 222.93 Td (0.7) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 322.85 222.98 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 359.80 222.73 Td (92,857) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 431.05 222.68 Td (0.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 442.20 222.68 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.70 222.68 Td (\(14,431) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 498.85 222.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.95 222.93 Td (\(15.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.20 222.93 Td (%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 209.68 Td (Earnings before income taxes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 232.70 209.68 Td (1,452,785) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 307.25 209.68 Td (13.6) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 322.85 209.73 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 348.70 209.73 Td (1,328,548) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 426.55 209.68 Td (12.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 442.20 209.68 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.90 209.68 Td (124,237) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 534.05 209.68 Td (9.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 547.85 209.68 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 180.15 Td (3.7.1. ) Tj ET Q q 0 0 0 rg BT 98.52 180.15 Td (Restructuring ) Tj ET Q q 0 0 0 rg BT 160.02 180.15 Td (Costs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 163.65 Td (In ) Tj ET Q q 0 0 0 rg BT 82.22 163.65 Td (Q1 ) Tj ET Q q 0 0 0 rg BT 96.95 163.65 Td (2016, ) Tj ET Q q 0 0 0 rg BT 122.19 163.65 Td (we ) Tj ET Q q 0 0 0 rg BT 136.41 163.65 Td (completed ) Tj ET Q q 0 0 0 rg BT 180.65 163.65 Td (the ) Tj ET Q q 0 0 0 rg BT 195.88 163.65 Td (previously ) Tj ET Q q 0 0 0 rg BT 239.12 163.65 Td (announced ) Tj ET Q q 0 0 0 rg BT 286.38 163.65 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 339.11 163.65 Td (program ) Tj ET Q q 0 0 0 rg BT 375.34 163.65 Td (for ) Tj ET Q q 0 0 0 rg BT 388.56 163.65 Td (productivity ) Tj ET Q q 0 0 0 rg BT 436.80 163.65 Td (improvement ) Tj ET Q q 0 0 0 rg BT 491.54 163.65 Td (initiatives. ) Tj ET Q q 0 0 0 rg BT 533.77 163.65 Td (For ) Tj ET Q q 0 0 0 rg BT 549.99 163.65 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 150.15 Td (year ) Tj ET Q q 0 0 0 rg BT 91.41 150.15 Td (ended) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 116.44 150.15 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 118.34 150.15 Td (September30, ) Tj ET Q q 0 0 0 rg BT 179.28 150.15 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 199.30 150.15 Td (, ) Tj ET Q q 0 0 0 rg BT 203.70 150.15 Td (the ) Tj ET Q q 0 0 0 rg BT 218.12 150.15 Td (Company ) Tj ET Q q 0 0 0 rg BT 258.54 150.15 Td (incurred ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 292.95 150.15 Td ($29.1 ) Tj ET Q q 0 0 0 rg BT 317.38 150.15 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 342.88 150.15 Td ( ) Tj ET Q q 0 0 0 rg BT 344.79 150.15 Td (of ) Tj ET Q q 0 0 0 rg BT 354.19 150.15 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 406.12 150.15 Td (costs ) Tj ET Q q 0 0 0 rg BT 429.02 150.15 Td (for ) Tj ET Q q 0 0 0 rg BT 441.43 150.15 Td (a ) Tj ET Q q 0 0 0 rg BT 448.34 150.15 Td (total ) Tj ET Q q 0 0 0 rg BT 467.25 150.15 Td (expense ) Tj ET Q q 0 0 0 rg BT 503.18 150.15 Td (of ) Tj ET Q q 0 0 0 rg BT 512.59 150.15 Td ($65.0 ) Tj ET Q q 0 0 0 rg BT 537.01 150.15 Td (million ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 136.65 Td (over ) Tj ET Q q 0 0 0 rg BT 92.01 136.65 Td (the ) Tj ET Q q 0 0 0 rg BT 107.02 136.65 Td (entire ) Tj ET Q q 0 0 0 rg BT 132.03 136.65 Td (program.) Tj ET Q endstream endobj 45 0 obj <> endobj 46 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (21) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (3.7.2. ) Tj ET Q q 0 0 0 rg BT 98.52 708.95 Td (Net ) Tj ET Q q 0 0 0 rg BT 115.52 708.95 Td (Finance ) Tj ET Q q 0 0 0 rg BT 152.03 708.95 Td (Costs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 692.45 Td (Net ) Tj ET Q q 0 0 0 rg BT 89.08 692.45 Td (finance ) Tj ET Q q 0 0 0 rg BT 121.17 692.45 Td (costs ) Tj ET Q q 0 0 0 rg BT 145.25 692.45 Td (mainly ) Tj ET Q q 0 0 0 rg BT 174.33 692.45 Td (include ) Tj ET Q q 0 0 0 rg BT 205.92 692.45 Td (the ) Tj ET Q q 0 0 0 rg BT 221.50 692.45 Td (interest ) Tj ET Q q 0 0 0 rg BT 254.09 692.45 Td (on ) Tj ET Q q 0 0 0 rg BT 267.17 692.45 Td (our ) Tj ET Q q 0 0 0 rg BT 283.25 692.45 Td (long-term ) Tj ET Q q 0 0 0 rg BT 324.33 692.45 Td (debt. ) Tj ET Q q 0 0 0 rg BT 347.22 692.45 Td (The ) Tj ET Q q 0 0 0 rg BT 365.80 692.45 Td (decrease ) Tj ET Q q 0 0 0 rg BT 405.90 692.45 Td (in ) Tj ET Q q 0 0 0 rg BT 415.98 692.45 Td (net ) Tj ET Q q 0 0 0 rg BT 431.56 692.45 Td (finance ) Tj ET Q q 0 0 0 rg BT 463.65 692.45 Td (costs ) Tj ET Q q 0 0 0 rg BT 487.73 692.45 Td (for ) Tj ET Q q 0 0 0 rg BT 501.30 692.45 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 516.89 692.45 Td (year ) Tj ET Q q 0 0 0 rg BT 537.47 692.45 Td (ended) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 562.49 692.45 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 678.95 Td (September30, ) Tj ET Q q 0 0 0 rg BT 134.60 678.95 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 154.63 678.95 Td ( ) Tj ET Q q 0 0 0 rg BT 158.20 678.95 Td (was ) Tj ET Q q 0 0 0 rg BT 177.77 678.95 Td (mainly ) Tj ET Q q 0 0 0 rg BT 207.34 678.95 Td (the ) Tj ET Q q 0 0 0 rg BT 223.42 678.95 Td (result ) Tj ET Q q 0 0 0 rg BT 249.00 678.95 Td (of ) Tj ET Q q 0 0 0 rg BT 260.08 678.95 Td (the ) Tj ET Q q 0 0 0 rg BT 276.16 678.95 Td (early ) Tj ET Q q 0 0 0 rg BT 299.23 678.95 Td (repayments ) Tj ET Q q 0 0 0 rg BT 349.82 678.95 Td (of ) Tj ET Q q 0 0 0 rg BT 360.90 678.95 Td (the ) Tj ET Q q 0 0 0 rg BT 376.98 678.95 Td (May ) Tj ET Q q 0 0 0 rg BT 397.55 678.95 Td (2016 ) Tj ET Q q 0 0 0 rg BT 421.14 678.95 Td (maturing ) Tj ET Q q 0 0 0 rg BT 459.72 678.95 Td (tranche ) Tj ET Q q 0 0 0 rg BT 493.31 678.95 Td (of ) Tj ET Q q 0 0 0 rg BT 504.39 678.95 Td (the ) Tj ET Q q 0 0 0 rg BT 520.47 678.95 Td (unsecured ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 665.45 Td (committed ) Tj ET Q q 0 0 0 rg BT 116.01 665.45 Td (term ) Tj ET Q q 0 0 0 rg BT 136.51 665.45 Td (loan ) Tj ET Q q 0 0 0 rg BT 156.03 665.45 Td (credit ) Tj ET Q q 0 0 0 rg BT 180.54 665.45 Td (facility) Tj ET Q q 0 0 0 rg BT 204.87 665.45 Td (.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 636.65 Td (3.8. NET EARNINGS ) Tj ET Q q 0 0 0 rg BT 161.18 636.65 Td (AND EARNINGS PER SHARE) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 620.15 Td (The following table sets out the information supporting the earnings per share calculations:) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 72.50 609.65 203.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 275.50 609.65 72.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 347.50 609.65 72.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 419.50 609.65 144.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 419.50 596.65 72.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 491.50 596.65 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 275.50 583.65 72.00 -9.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 275.50 574.65 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 275.50 561.65 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 275.50 548.65 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 535.65 203.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 275.50 535.65 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 347.50 535.65 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 419.50 535.65 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 491.50 535.65 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 522.65 203.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 275.50 522.65 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 347.50 522.65 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 419.50 522.65 72.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 491.50 522.65 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 275.50 509.65 72.00 -5.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 275.50 504.65 72.00 -21.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 275.50 483.65 72.00 -22.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 275.50 461.65 72.00 -5.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 275.50 456.65 72.00 -22.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 275.50 434.65 72.00 -5.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 275.50 429.65 72.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 275.50 416.65 72.00 -14.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 275.50 402.65 72.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 609.65 m 275.5 609.65 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 275.5 609.65 m 347.5 609.65 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 347.5 609.65 m 419.5 609.65 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 609.65 m 491.5 609.65 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491.5 609.65 m 563.5 609.65 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 388.65 m 275.5 388.65 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 275.5 388.65 m 347.5 388.65 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 347.5 388.65 m 419.5 388.65 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 388.65 m 491.5 388.65 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491.5 388.65 m 563.5 388.65 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 75.00 587.88 Td (For the years ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 320.20 587.88 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 392.20 587.88 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 485.00 600.88 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 467.00 587.88 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 539.00 587.88 Td (%) Tj ET Q BT /F4 7.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 75.00 576.10 Td (In thousands of CAD except for percentage and shares data) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 565.88 Td (Earnings before income taxes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 304.25 565.93 Td (1,452,785) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 376.25 565.93 Td (1,328,548) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.90 565.88 Td (124,237) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.05 565.88 Td (9.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 547.20 565.88 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 552.88 Td (Income tax expense) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 310.90 552.93 Td (384,069) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 382.90 552.88 Td (350,992) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 459.30 552.88 Td (33,077) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.05 552.88 Td (9.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 547.20 552.88 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 87.00 539.83 Td (Effective tax rate) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 318.25 539.93 Td (26.4) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 333.85 539.88 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 390.25 540.13 Td (26.4) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 405.85 540.08 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 526.88 Td (Net earnings) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 304.25 526.93 Td (1,068,716) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 382.90 526.88 Td (977,556) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 459.30 527.13 Td (91,160) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.05 527.13 Td (9.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 547.20 527.13 Td (%) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 87.00 513.88 Td (Net earnings margin) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 318.25 513.93 Td (10.0) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 333.85 513.88 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 394.70 514.08 Td (9.5) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 405.85 514.08 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 487.88 Td (Weighted average number of shares outstanding) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 473.88 Td (ClassA subordinate voting shares and Class B) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 465.88 Td (multiple voting shares \(basic\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 295.35 470.68 Td (304,808,130) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 367.30 470.63 Td (311,477,555) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.40 470.63 Td (\(2.1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 547.20 470.63 Td (%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 446.88 Td (ClassA subordinate voting shares and Class B) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 438.88 Td (multiple voting shares \(diluted\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 295.35 443.68 Td (312,773,156) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 367.30 443.63 Td (321,422,444) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.40 443.63 Td (\(2.7) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 547.20 443.63 Td (%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 420.88 Td (Earnings per share \(in dollars\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 406.88 Td (Basic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.25 407.68 Td (3.51) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 396.25 407.68 Td (3.14) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.25 407.68 Td (0.37) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.60 407.68 Td (11.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 547.20 407.63 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 392.88 Td (Diluted) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.25 393.68 Td (3.42) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 396.25 393.68 Td (3.04) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.25 393.68 Td (0.38) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.60 393.68 Td (12.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 547.20 393.63 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 369.35 Td (3.8.1. ) Tj ET Q q 0 0 0 rg BT 98.52 369.35 Td (Income ) Tj ET Q q 0 0 0 rg BT 132.53 369.35 Td (T) Tj ET Q q 0 0 0 rg BT 137.36 369.35 Td (ax ) Tj ET Q q 0 0 0 rg BT 149.87 369.35 Td (Expense) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 352.85 Td (For ) Tj ET Q q 0 0 0 rg BT 88.43 352.85 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.88 352.85 Td (year ) Tj ET Q q 0 0 0 rg BT 124.32 352.85 Td (ended ) Tj ET Q q 0 0 0 rg BT 152.28 352.85 Td (September ) Tj ET Q q 0 0 0 rg BT 199.23 352.85 Td (30, ) Tj ET Q q 0 0 0 rg BT 214.68 352.85 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 234.70 352.85 Td (, ) Tj ET Q q 0 0 0 rg BT 240.13 352.85 Td (the ) Tj ET Q q 0 0 0 rg BT 255.58 352.85 Td (income ) Tj ET Q q 0 0 0 rg BT 287.52 352.85 Td (tax ) Tj ET Q q 0 0 0 rg BT 302.46 352.85 Td (expense ) Tj ET Q q 0 0 0 rg BT 339.42 352.85 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 358.36 352.85 Td ($384.1 ) Tj ET Q q 0 0 0 rg BT 388.82 352.85 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 414.32 352.85 Td ( ) Tj ET Q q 0 0 0 rg BT 417.25 352.85 Td (compared ) Tj ET Q q 0 0 0 rg BT 460.21 352.85 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 470.65 352.85 Td ($351.0 ) Tj ET Q q 0 0 0 rg BT 501.11 352.85 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.61 352.85 Td ( ) Tj ET Q q 0 0 0 rg BT 529.55 352.85 Td (over ) Tj ET Q q 0 0 0 rg BT 549.99 352.85 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 339.35 Td (same ) Tj ET Q q 0 0 0 rg BT 96.75 339.35 Td (period ) Tj ET Q q 0 0 0 rg BT 124.51 339.35 Td (last ) Tj ET Q q 0 0 0 rg BT 141.26 339.35 Td (year) Tj ET Q q 0 0 0 rg BT 158.27 339.35 Td (, ) Tj ET Q q 0 0 0 rg BT 163.51 339.35 Td (while ) Tj ET Q q 0 0 0 rg BT 186.76 339.35 Td (our ) Tj ET Q q 0 0 0 rg BT 202.51 339.35 Td (ef) Tj ET Q q 0 0 0 rg BT 209.86 339.35 Td (fective ) Tj ET Q q 0 0 0 rg BT 238.61 339.35 Td (tax ) Tj ET Q q 0 0 0 rg BT 253.36 339.35 Td (rate ) Tj ET Q q 0 0 0 rg BT 271.61 339.35 Td (remained ) Tj ET Q q 0 0 0 rg BT 311.87 339.35 Td (stable. ) Tj ET Q q 0 0 0 rg BT 340.95 339.35 Td (The ) Tj ET Q q 0 0 0 rg BT 359.20 339.35 Td (income ) Tj ET Q q 0 0 0 rg BT 390.96 339.35 Td (tax ) Tj ET Q q 0 0 0 rg BT 405.71 339.35 Td (expense ) Tj ET Q q 0 0 0 rg BT 442.47 339.35 Td (was ) Tj ET Q q 0 0 0 rg BT 461.22 339.35 Td (impacted ) Tj ET Q q 0 0 0 rg BT 500.48 339.35 Td (by ) Tj ET Q q 0 0 0 rg BT 512.73 339.35 Td (a ) Tj ET Q q 0 0 0 rg BT 520.48 339.35 Td (favourable ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 325.85 Td (tax ) Tj ET Q q 0 0 0 rg BT 86.54 325.85 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 133.11 325.85 Td (of ) Tj ET Q q 0 0 0 rg BT 143.15 325.85 Td ($14.4 ) Tj ET Q q 0 0 0 rg BT 168.21 325.85 Td (million ) Tj ET Q q 0 0 0 rg BT 196.26 325.85 Td (in ) Tj ET Q q 0 0 0 rg BT 205.80 325.85 Td (Q2 ) Tj ET Q q 0 0 0 rg BT 220.34 325.85 Td (2016 ) Tj ET Q q 0 0 0 rg BT 242.90 325.85 Td (attributable ) Tj ET Q q 0 0 0 rg BT 289.97 325.85 Td (to ) Tj ET Q q 0 0 0 rg BT 300.02 325.85 Td (the ) Tj ET Q q 0 0 0 rg BT 315.07 325.85 Td (recognition ) Tj ET Q q 0 0 0 rg BT 361.63 325.85 Td (of ) Tj ET Q q 0 0 0 rg BT 371.68 325.85 Td (deferred ) Tj ET Q q 0 0 0 rg BT 407.74 325.85 Td (tax ) Tj ET Q q 0 0 0 rg BT 422.28 325.85 Td (assets ) Tj ET Q q 0 0 0 rg BT 450.83 325.85 Td (following ) Tj ET Q q 0 0 0 rg BT 488.39 325.85 Td (an ) Tj ET Q q 0 0 0 rg BT 500.94 325.85 Td (agreement ) Tj ET Q q 0 0 0 rg BT 546.51 325.85 Td (with ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 312.35 Td (the ) Tj ET Q q 0 0 0 rg BT 86.78 312.35 Td (U.K. ) Tj ET Q q 0 0 0 rg BT 106.56 312.35 Td (tax ) Tj ET Q q 0 0 0 rg BT 120.84 312.35 Td (authority ) Tj ET Q q 0 0 0 rg BT 157.63 312.35 Td (and ) Tj ET Q q 0 0 0 rg BT 174.92 312.35 Td (an ) Tj ET Q q 0 0 0 rg BT 187.20 312.35 Td (additional ) Tj ET Q q 0 0 0 rg BT 228.00 312.35 Td (tax ) Tj ET Q q 0 0 0 rg BT 242.28 312.35 Td (expense ) Tj ET Q q 0 0 0 rg BT 278.58 312.35 Td (for ) Tj ET Q q 0 0 0 rg BT 291.35 312.35 Td (an ) Tj ET Q q 0 0 0 rg BT 303.64 312.35 Td (amount ) Tj ET Q q 0 0 0 rg BT 335.93 312.35 Td (of ) Tj ET Q q 0 0 0 rg BT 345.70 312.35 Td ($5.9 ) Tj ET Q q 0 0 0 rg BT 365.49 312.35 Td (million ) Tj ET Q q 0 0 0 rg BT 393.27 312.35 Td (in ) Tj ET Q q 0 0 0 rg BT 402.55 312.35 Td (Q1 ) Tj ET Q q 0 0 0 rg BT 416.83 312.35 Td (2016 ) Tj ET Q q 0 0 0 rg BT 439.12 312.35 Td (resulting ) Tj ET Q q 0 0 0 rg BT 475.41 312.35 Td (from ) Tj ET Q q 0 0 0 rg BT 495.68 312.35 Td (the ) Tj ET Q q 0 0 0 rg BT 510.46 312.35 Td (re-evaluation ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 298.85 Td (of ) Tj ET Q q 0 0 0 rg BT 82.13 298.85 Td (our ) Tj ET Q q 0 0 0 rg BT 97.76 298.85 Td (deferred ) Tj ET Q q 0 0 0 rg BT 133.91 298.85 Td (tax ) Tj ET Q q 0 0 0 rg BT 148.54 298.85 Td (assets ) Tj ET Q q 0 0 0 rg BT 177.17 298.85 Td (following ) Tj ET Q q 0 0 0 rg BT 214.82 298.85 Td (the ) Tj ET Q q 0 0 0 rg BT 229.95 298.85 Td (U.K. ) Tj ET Q q 0 0 0 rg BT 250.08 298.85 Td (corporate ) Tj ET Q q 0 0 0 rg BT 290.72 298.85 Td (tax ) Tj ET Q q 0 0 0 rg BT 305.35 298.85 Td (reduction ) Tj ET Q q 0 0 0 rg BT 345.00 298.85 Td (enacted ) Tj ET Q q 0 0 0 rg BT 379.65 298.85 Td (in ) Tj ET Q q 0 0 0 rg BT 389.28 298.85 Td (November ) Tj ET Q q 0 0 0 rg BT 433.42 298.85 Td (18, ) Tj ET Q q 0 0 0 rg BT 448.56 298.85 Td (2015. ) Tj ET Q q 0 0 0 rg BT 473.70 298.85 Td (When ) Tj ET Q q 0 0 0 rg BT 499.84 298.85 Td (excluding ) Tj ET Q q 0 0 0 rg BT 540.49 298.85 Td (these ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 285.35 Td (tax ) Tj ET Q q 0 0 0 rg BT 85.80 285.35 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 136.12 285.35 Td (and ) Tj ET Q q 0 0 0 rg BT 152.93 285.35 Td (the ) Tj ET Q q 0 0 0 rg BT 167.24 285.35 Td (tax ) Tj ET Q q 0 0 0 rg BT 181.04 285.35 Td (ef) Tj ET Q q 0 0 0 rg BT 188.39 285.35 Td (fects ) Tj ET Q q 0 0 0 rg BT 209.19 285.35 Td (from ) Tj ET Q q 0 0 0 rg BT 228.98 285.35 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 280.80 285.35 Td (costs ) Tj ET Q q 0 0 0 rg BT 303.60 285.35 Td (incurred ) Tj ET Q q 0 0 0 rg BT 337.91 285.35 Td (in ) Tj ET Q q 0 0 0 rg BT 346.71 285.35 Td (both ) Tj ET Q q 0 0 0 rg BT 366.02 285.35 Td (years, ) Tj ET Q q 0 0 0 rg BT 392.33 285.35 Td (the ) Tj ET Q q 0 0 0 rg BT 406.64 285.35 Td (income ) Tj ET Q q 0 0 0 rg BT 437.44 285.35 Td (tax ) Tj ET Q q 0 0 0 rg BT 451.25 285.35 Td (rate ) Tj ET Q q 0 0 0 rg BT 468.55 285.35 Td (would ) Tj ET Q q 0 0 0 rg BT 493.86 285.35 Td (have ) Tj ET Q q 0 0 0 rg BT 515.17 285.35 Td (been ) Tj ET Q q 0 0 0 rg BT 536.99 285.35 Td (27.0% ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 271.85 Td (during ) Tj ET Q q 0 0 0 rg BT 99.78 271.85 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 123.04 271.85 Td (2016 ) Tj ET Q q 0 0 0 rg BT 145.82 271.85 Td (compared ) Tj ET Q q 0 0 0 rg BT 188.60 271.85 Td (to ) Tj ET Q q 0 0 0 rg BT 198.86 271.85 Td (26.3% ) Tj ET Q q 0 0 0 rg BT 227.14 271.85 Td (in ) Tj ET Q q 0 0 0 rg BT 236.90 271.85 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 260.17 271.85 Td (2015. ) Tj ET Q q 0 0 0 rg BT 285.27 271.85 Td (The ) Tj ET Q q 0 0 0 rg BT 303.53 271.85 Td (increase ) Tj ET Q q 0 0 0 rg BT 340.31 271.85 Td (in ) Tj ET Q q 0 0 0 rg BT 350.07 271.85 Td (the ) Tj ET Q q 0 0 0 rg BT 365.34 271.85 Td (income ) Tj ET Q q 0 0 0 rg BT 397.11 271.85 Td (tax ) Tj ET Q q 0 0 0 rg BT 411.88 271.85 Td (expense ) Tj ET Q q 0 0 0 rg BT 448.66 271.85 Td (and ) Tj ET Q q 0 0 0 rg BT 466.44 271.85 Td (the ) Tj ET Q q 0 0 0 rg BT 481.71 271.85 Td (income ) Tj ET Q q 0 0 0 rg BT 513.48 271.85 Td (tax ) Tj ET Q q 0 0 0 rg BT 528.24 271.85 Td (rate ) Tj ET Q q 0 0 0 rg BT 546.51 271.85 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 258.35 Td (mainly ) Tj ET Q q 0 0 0 rg BT 100.35 258.35 Td (attributable ) Tj ET Q q 0 0 0 rg BT 147.23 258.35 Td (to ) Tj ET Q q 0 0 0 rg BT 157.08 258.35 Td (the ) Tj ET Q q 0 0 0 rg BT 171.94 258.35 Td (increased ) Tj ET Q q 0 0 0 rg BT 213.31 258.35 Td (profitability ) Tj ET Q q 0 0 0 rg BT 258.68 258.35 Td (of ) Tj ET Q q 0 0 0 rg BT 268.53 258.35 Td (our ) Tj ET Q q 0 0 0 rg BT 283.88 258.35 Td (U.S., ) Tj ET Q q 0 0 0 rg BT 306.23 258.35 Td (India ) Tj ET Q q 0 0 0 rg BT 328.10 258.35 Td (and ) Tj ET Q q 0 0 0 rg BT 345.46 258.35 Td (France ) Tj ET Q q 0 0 0 rg BT 375.82 258.35 Td (operations ) Tj ET Q q 0 0 0 rg BT 420.19 258.35 Td (where ) Tj ET Q q 0 0 0 rg BT 447.05 258.35 Td (enacted ) Tj ET Q q 0 0 0 rg BT 481.43 258.35 Td (income ) Tj ET Q q 0 0 0 rg BT 512.78 258.35 Td (tax ) Tj ET Q q 0 0 0 rg BT 527.14 258.35 Td (rates ) Tj ET Q q 0 0 0 rg BT 549.49 258.35 Td (are ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 244.85 Td (higher) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 97.02 244.85 Td (.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 228.05 Td (The table in section 3.8.3. shows the year-over-year comparison of the tax rate with the impact of specific items removed.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 208.55 Td (Based ) Tj ET Q q 0 0 0 rg BT 100.33 208.55 Td (on ) Tj ET Q q 0 0 0 rg BT 113.16 208.55 Td (the ) Tj ET Q q 0 0 0 rg BT 128.48 208.55 Td (enacted ) Tj ET Q q 0 0 0 rg BT 163.32 208.55 Td (rates ) Tj ET Q q 0 0 0 rg BT 186.14 208.55 Td (at ) Tj ET Q q 0 0 0 rg BT 196.46 208.55 Td (the ) Tj ET Q q 0 0 0 rg BT 211.78 208.55 Td (end ) Tj ET Q q 0 0 0 rg BT 229.61 208.55 Td (of ) Tj ET Q q 0 0 0 rg BT 239.93 208.55 Td (fiscal ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 263.25 208.55 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 283.27 208.55 Td ( ) Tj ET Q q 0 0 0 rg BT 286.08 208.55 Td (and ) Tj ET Q q 0 0 0 rg BT 303.91 208.55 Td (our ) Tj ET Q q 0 0 0 rg BT 319.73 208.55 Td (current ) Tj ET Q q 0 0 0 rg BT 350.56 208.55 Td (business ) Tj ET Q q 0 0 0 rg BT 388.89 208.55 Td (mix, ) Tj ET Q q 0 0 0 rg BT 408.20 208.55 Td (we ) Tj ET Q q 0 0 0 rg BT 422.52 208.55 Td (expect ) Tj ET Q q 0 0 0 rg BT 451.85 208.55 Td (our ) Tj ET Q q 0 0 0 rg BT 467.67 208.55 Td (ef) Tj ET Q q 0 0 0 rg BT 475.01 208.55 Td (fective ) Tj ET Q q 0 0 0 rg BT 503.84 208.55 Td (tax ) Tj ET Q q 0 0 0 rg BT 518.66 208.55 Td (rate ) Tj ET Q q 0 0 0 rg BT 536.98 208.55 Td (before ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 195.05 Td (any ) Tj ET Q q 0 0 0 rg BT 89.01 195.05 Td (significant ) Tj ET Q q 0 0 0 rg BT 131.53 195.05 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 182.56 195.05 Td (to ) Tj ET Q q 0 0 0 rg BT 192.56 195.05 Td (be ) Tj ET Q q 0 0 0 rg BT 205.08 195.05 Td (in ) Tj ET Q q 0 0 0 rg BT 214.58 195.05 Td (the ) Tj ET Q q 0 0 0 rg BT 229.59 195.05 Td (range ) Tj ET Q q 0 0 0 rg BT 255.11 195.05 Td (of ) Tj ET Q q 0 0 0 rg BT 265.12 195.05 Td (27.0% ) Tj ET Q q 0 0 0 rg BT 293.14 195.05 Td (to ) Tj ET Q q 0 0 0 rg BT 303.14 195.05 Td (29.0% ) Tj ET Q q 0 0 0 rg BT 331.16 195.05 Td (in ) Tj ET Q q 0 0 0 rg BT 340.67 195.05 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 389.71 195.05 Td (periods.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 169.25 Td (3.8.2. ) Tj ET Q q 0 0 0 rg BT 98.52 169.25 Td (W) Tj ET Q q 0 0 0 rg BT 106.85 169.25 Td (eighted ) Tj ET Q q 0 0 0 rg BT 141.02 169.25 Td (A) Tj ET Q q 0 0 0 rg BT 147.18 169.25 Td (verage ) Tj ET Q q 0 0 0 rg BT 178.71 169.25 Td (Number ) Tj ET Q q 0 0 0 rg BT 215.21 169.25 Td (of ) Tj ET Q q 0 0 0 rg BT 226.21 169.25 Td (Shares) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 152.75 Td (For ) Tj ET Q q 0 0 0 rg BT 88.15 152.75 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 111.31 152.75 Td (2016, ) Tj ET Q q 0 0 0 rg BT 136.48 152.75 Td (CGI) Tj ET Q q 0 0 0 rg BT 154.32 152.75 Td (s ) Tj ET Q q 0 0 0 rg BT 161.47 152.75 Td (basic ) Tj ET Q q 0 0 0 rg BT 185.13 152.75 Td (and ) Tj ET Q q 0 0 0 rg BT 202.80 152.75 Td (diluted ) Tj ET Q q 0 0 0 rg BT 231.97 152.75 Td (weighted ) Tj ET Q q 0 0 0 rg BT 270.65 152.75 Td (average ) Tj ET Q q 0 0 0 rg BT 305.83 152.75 Td (number ) Tj ET Q q 0 0 0 rg BT 339.00 152.75 Td (of ) Tj ET Q q 0 0 0 rg BT 349.15 152.75 Td (shares ) Tj ET Q q 0 0 0 rg BT 378.82 152.75 Td (decreased ) Tj ET Q q 0 0 0 rg BT 423.50 152.75 Td (compared ) Tj ET Q q 0 0 0 rg BT 466.17 152.75 Td (to ) Tj ET Q q 0 0 0 rg BT 476.33 152.75 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 499.49 152.75 Td (2015 ) Tj ET Q q 0 0 0 rg BT 522.16 152.75 Td (due ) Tj ET Q q 0 0 0 rg BT 539.83 152.75 Td (to ) Tj ET Q q 0 0 0 rg BT 549.99 152.75 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 139.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 101.01 139.25 Td (of ) Tj ET Q q 0 0 0 rg BT 111.01 139.25 Td (the ) Tj ET Q q 0 0 0 rg BT 126.03 139.25 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 173.55 139.25 Td (of ) Tj ET Q q 0 0 0 rg BT 183.56 139.25 Td (Class ) Tj ET Q q 0 0 0 rg BT 208.07 139.25 Td (A) Tj ET Q q 0 0 0 rg BT 213.57 139.25 Td ( ) Tj ET Q q 0 0 0 rg BT 216.07 139.25 Td (subordinate ) Tj ET Q q 0 0 0 rg BT 265.61 139.25 Td (voting ) Tj ET Q q 0 0 0 rg BT 292.13 139.25 Td (shares, ) Tj ET Q q 0 0 0 rg BT 324.14 139.25 Td (partly ) Tj ET Q q 0 0 0 rg BT 348.65 139.25 Td (of) Tj ET Q q 0 0 0 rg BT 355.99 139.25 Td (fset ) Tj ET Q q 0 0 0 rg BT 373.00 139.25 Td (by ) Tj ET Q q 0 0 0 rg BT 385.00 139.25 Td (the ) Tj ET Q q 0 0 0 rg BT 400.02 139.25 Td (grants ) Tj ET Q q 0 0 0 rg BT 427.53 139.25 Td (and ) Tj ET Q q 0 0 0 rg BT 445.05 139.25 Td (the ) Tj ET Q q 0 0 0 rg BT 460.06 139.25 Td (exercise ) Tj ET Q q 0 0 0 rg BT 496.07 139.25 Td (of ) Tj ET Q q 0 0 0 rg BT 506.08 139.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 529.58 139.25 Td (options.) Tj ET Q endstream endobj 47 0 obj <> endobj 48 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (22) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (3.8.3. ) Tj ET Q q 0 0 0 rg BT 98.52 708.95 Td (Net ) Tj ET Q q 0 0 0 rg BT 115.52 708.95 Td (Earnings ) Tj ET Q q 0 0 0 rg BT 156.53 708.95 Td (and ) Tj ET Q q 0 0 0 rg BT 175.03 708.95 Td (Earnings ) Tj ET Q q 0 0 0 rg BT 216.04 708.95 Td (per ) Tj ET Q q 0 0 0 rg BT 232.55 708.95 Td (Share ) Tj ET Q q 0 0 0 rg BT 260.06 708.95 Td (Excluding ) Tj ET Q q 0 0 0 rg BT 305.57 708.95 Td (Specific ) Tj ET Q q 0 0 0 rg BT 342.58 708.95 Td (Items) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 692.45 Td (Below ) Tj ET Q q 0 0 0 rg BT 100.74 692.45 Td (is ) Tj ET Q q 0 0 0 rg BT 111.47 692.45 Td (a ) Tj ET Q q 0 0 0 rg BT 120.71 692.45 Td (table ) Tj ET Q q 0 0 0 rg BT 144.46 692.45 Td (showing ) Tj ET Q q 0 0 0 rg BT 181.71 692.45 Td (the ) Tj ET Q q 0 0 0 rg BT 198.45 692.45 Td (year-over-year ) Tj ET Q q 0 0 0 rg BT 261.20 692.45 Td (comparison ) Tj ET Q q 0 0 0 rg BT 311.95 692.45 Td (excluding ) Tj ET Q q 0 0 0 rg BT 354.21 692.45 Td (specific ) Tj ET Q q 0 0 0 rg BT 388.45 692.45 Td (items ) Tj ET Q q 0 0 0 rg BT 414.18 692.45 Td (namely) Tj ET Q q 0 0 0 rg BT 442.53 692.45 Td (, ) Tj ET Q q 0 0 0 rg BT 449.26 692.45 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 503.51 692.45 Td (costs, ) Tj ET Q q 0 0 0 rg BT 531.25 692.45 Td (and ) Tj ET Q q 0 0 0 rg BT 550.49 692.45 Td (tax ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 678.95 Td (adjustments:) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 72.50 668.45 226.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 298.50 668.45 66.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 364.50 668.45 66.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 430.50 668.45 132.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 430.50 655.45 66.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 496.50 655.45 66.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 298.50 642.45 66.00 -11.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 298.50 631.45 66.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 298.50 618.45 66.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 298.50 605.45 66.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 592.45 226.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 298.50 592.45 66.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 364.50 592.45 66.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 430.50 592.45 66.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 496.50 592.45 66.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 298.50 579.45 66.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 298.50 572.45 66.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 298.50 559.45 66.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 298.50 546.45 66.00 -15.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 298.50 531.45 66.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 518.45 226.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 298.50 518.45 66.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 364.50 518.45 66.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 430.50 518.45 66.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 496.50 518.45 66.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 505.45 226.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 298.50 505.45 66.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 364.50 505.45 66.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 430.50 505.45 66.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 496.50 505.45 66.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 298.50 492.45 66.00 -7.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 485.45 226.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 298.50 485.45 66.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 364.50 485.45 66.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 430.50 485.45 66.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 496.50 485.45 66.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 472.45 226.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 298.50 472.45 66.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 364.50 472.45 66.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 430.50 472.45 66.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 496.50 472.45 66.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 298.50 459.45 66.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 298.50 452.45 66.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 298.50 439.45 66.00 -19.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 298.50 420.45 66.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 298.50 413.45 66.00 -27.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 298.50 386.45 66.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 298.50 379.45 66.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 298.50 366.45 66.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 298.50 353.45 66.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 668.45 m 298.5 668.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 298.5 668.45 m 364.5 668.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 364.5 668.45 m 430.5 668.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 430.5 668.45 m 496.5 668.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 496.5 668.45 m 562.5 668.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 340.45 m 298.5 340.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 298.5 340.45 m 364.5 340.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 364.5 340.45 m 430.5 340.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 430.5 340.45 m 496.5 340.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 496.5 340.45 m 562.5 340.45 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 75.00 646.68 Td (For the years ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 337.20 646.68 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 403.20 646.68 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 490.00 659.68 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 472.00 646.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 538.00 646.68 Td (%) Tj ET Q BT /F4 7.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 75.00 634.85 Td (In thousands of CAD except for percentages and shares data) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 622.68 Td (Earnings before income taxes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 321.25 622.73 Td (1,452,785) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 387.25 622.73 Td (1,328,548) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 459.90 622.68 Td (124,237) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 535.05 622.68 Td (9.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 622.68 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 75.00 609.63 Td (Add back:) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 87.00 596.68 Td (Restructuring costs) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 155.47 600.49 Td (1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.30 596.68 Td (29,100) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 398.30 596.68 Td (35,903) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.15 596.68 Td (\(6,803) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 488.85 596.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.95 596.68 Td (\(18.9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 596.68 Td (%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 583.68 Td (Earnings before income taxes excluding specific items) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 321.25 583.73 Td (1,481,885) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 387.25 583.73 Td (1,364,451) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 459.90 583.68 Td (117,434) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 535.05 583.68 Td (8.6) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 583.68 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 563.68 Td (Income tax expense) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 327.90 563.73 Td (384,069) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 393.90 563.68 Td (350,992) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.30 563.68 Td (33,077) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 535.05 563.68 Td (9.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 563.68 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 75.00 550.63 Td (Add back:) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 87.00 535.68 Td (T) Tj ET Q q 0 0 0 rg BT 91.00 535.68 Td (ax adjustments) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 144.80 539.49 Td (2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.80 535.73 Td (8,500) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 414.80 535.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.80 535.73 Td (8,500) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 538.20 535.68 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 87.00 522.68 Td (Tax deduction on restructuring costs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.80 522.73 Td (7,858) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 402.80 522.73 Td (8,352) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.80 522.73 Td (\(494) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 488.85 522.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.40 522.68 Td (\(5.9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 522.68 Td (%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 509.68 Td (Income tax expense excluding specific items) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 327.90 509.73 Td (400,427) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 393.90 509.68 Td (359,344) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.30 509.68 Td (41,083) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.60 509.73 Td (11.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 509.68 Td (%) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 87.00 496.68 Td (Effective tax rate excluding specific items) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 335.25 496.73 Td (27.0) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 350.85 496.68 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 401.25 496.68 Td (26.3) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 416.85 496.63 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 476.68 Td (Net earnings excluding specific items) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 321.25 476.73 Td (1,081,458) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 387.25 476.73 Td (1,005,107) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.30 476.68 Td (76,351) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 535.05 476.68 Td (7.6) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 476.68 Td (%) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 87.00 463.68 Td (Net earnings excluding specific items margin) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 335.25 463.73 Td (10.1) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 350.85 463.68 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 405.70 463.63 Td (9.8) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 416.85 463.63 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 443.68 Td (Weighted average number of shares outstanding) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 431.13 Td (ClassA subordinate voting shares and Class B multiple) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 423.13 Td (voting shares \(basic\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.35 424.73 Td (304,808,130) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 378.30 424.68 Td (311,477,555) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.40 424.68 Td (\(2.1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 424.68 Td (%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 398.68 Td (ClassA subordinate voting shares and Class B multiple) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 390.68 Td (voting shares \(diluted\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.35 390.73 Td (312,773,156) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 378.30 390.68 Td (321,422,444) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.40 390.68 Td (\(2.7) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 390.68 Td (%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 370.68 Td (Earnings per share excluding specific items \(in dollars\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 357.68 Td (Basic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 341.25 357.73 Td (3.55) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 407.25 357.73 Td (3.23) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 473.25 357.73 Td (0.32) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 535.05 357.68 Td (9.9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 357.68 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 344.68 Td (Diluted) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 341.25 344.73 Td (3.46) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 407.25 344.73 Td (3.13) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 473.25 344.73 Td (0.33) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.60 344.73 Td (10.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 344.68 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 72.00 332.29 Td (1) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 74.53 333.48 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.16 328.95 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 76.50 328.95 Td ( ) Tj ET Q q 0 0 0 rg BT 94.50 328.95 Td (Refer ) Tj ET Q q 0 0 0 rg BT 113.56 328.95 Td (to ) Tj ET Q q 0 0 0 rg BT 121.34 328.95 Td (section ) Tj ET Q q 0 0 0 rg BT 145.47 328.95 Td (3.7.1.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 72.00 323.59 Td (2 ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 75.79 320.25 Td ( ) Tj ET Q q 0 0 0 rg BT 94.50 320.25 Td (Refer ) Tj ET Q q 0 0 0 rg BT 113.56 320.25 Td (to ) Tj ET Q q 0 0 0 rg BT 121.34 320.25 Td (section ) Tj ET Q q 0 0 0 rg BT 145.47 320.25 Td (3.8.1.) Tj ET Q endstream endobj 49 0 obj <> endobj 50 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (23) Tj ET Q BT /F1 10.00 Tf ET BT /F3 12.00 Tf ET q 0 0 0 rg BT 49.50 706.80 Td () Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 52.83 706.80 Td (4. ) Tj ET Q q 0 0 0 rg BT 72.00 706.80 Td (Liquidity) Tj ET Q 0 0 0 RG /GS0 gs 1.50 w 0 i [] 0 d 0 J 0 j 3 M 57.5 694.3 m 57.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 690.3 m 57.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 57.5 690.3 m 142.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 142.5 690.3 m 228.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 228.5 690.3 m 337.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 690.3 m 475.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 690.3 m 561.5 690.3 l s 0 0 0 RG /GS0 gs 1.50 w 0 i [] 0 d 0 J 0 j 3 M 57.5 690.3 m 57.5 686.3 l s BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 667.00 Td (4.1. ) Tj ET Q q 0 0 0 rg BT 91.01 667.00 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 144.34 667.00 Td (TED ) Tj ET Q q 0 0 0 rg BT 164.84 667.00 Td (ST) Tj ET Q q 0 0 0 rg BT 175.68 667.00 Td (A) Tj ET Q q 0 0 0 rg BT 181.51 667.00 Td (TEMENTS ) Tj ET Q q 0 0 0 rg BT 227.01 667.00 Td (OF ) Tj ET Q q 0 0 0 rg BT 242.01 667.00 Td (CASH ) Tj ET Q q 0 0 0 rg BT 270.01 667.00 Td (FLOWS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 650.50 Td (CGI) Tj ET Q q 0 0 0 rg BT 89.84 650.50 Td (s ) Tj ET Q q 0 0 0 rg BT 96.33 650.50 Td (growth ) Tj ET Q q 0 0 0 rg BT 125.34 650.50 Td (is ) Tj ET Q q 0 0 0 rg BT 133.84 650.50 Td (financed ) Tj ET Q q 0 0 0 rg BT 169.86 650.50 Td (through ) Tj ET Q q 0 0 0 rg BT 202.38 650.50 Td (a ) Tj ET Q q 0 0 0 rg BT 209.38 650.50 Td (combination ) Tj ET Q q 0 0 0 rg BT 259.91 650.50 Td (of ) Tj ET Q q 0 0 0 rg BT 269.41 650.50 Td (our ) Tj ET Q q 0 0 0 rg BT 284.41 650.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 305.42 650.50 Td (flow ) Tj ET Q q 0 0 0 rg BT 323.42 650.50 Td (from ) Tj ET Q q 0 0 0 rg BT 343.42 650.50 Td (operations, ) Tj ET Q q 0 0 0 rg BT 389.94 650.50 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 431.46 650.50 Td (under ) Tj ET Q q 0 0 0 rg BT 456.47 650.50 Td (our ) Tj ET Q q 0 0 0 rg BT 471.48 650.50 Td (existing ) Tj ET Q q 0 0 0 rg BT 503.99 650.50 Td (credit ) Tj ET Q q 0 0 0 rg BT 527.99 650.50 Td (facilities, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 637.00 Td (the ) Tj ET Q q 0 0 0 rg BT 87.51 637.00 Td (issuance ) Tj ET Q q 0 0 0 rg BT 126.02 637.00 Td (of ) Tj ET Q q 0 0 0 rg BT 136.53 637.00 Td (long-term ) Tj ET Q q 0 0 0 rg BT 177.54 637.00 Td (debt, ) Tj ET Q q 0 0 0 rg BT 200.55 637.00 Td (and ) Tj ET Q q 0 0 0 rg BT 218.56 637.00 Td (the ) Tj ET Q q 0 0 0 rg BT 234.07 637.00 Td (issuance ) Tj ET Q q 0 0 0 rg BT 272.58 637.00 Td (of ) Tj ET Q q 0 0 0 rg BT 283.09 637.00 Td (equity) Tj ET Q q 0 0 0 rg BT 306.44 637.00 Td (. ) Tj ET Q q 0 0 0 rg BT 311.93 637.00 Td (One ) Tj ET Q q 0 0 0 rg BT 331.94 637.00 Td (of ) Tj ET Q q 0 0 0 rg BT 342.44 637.00 Td (our ) Tj ET Q q 0 0 0 rg BT 358.44 637.00 Td (financial ) Tj ET Q q 0 0 0 rg BT 394.46 637.00 Td (priorities ) Tj ET Q q 0 0 0 rg BT 431.47 637.00 Td (is ) Tj ET Q q 0 0 0 rg BT 440.96 637.00 Td (to ) Tj ET Q q 0 0 0 rg BT 451.46 637.00 Td (maintain ) Tj ET Q q 0 0 0 rg BT 488.48 637.00 Td (an ) Tj ET Q q 0 0 0 rg BT 501.49 637.00 Td (optimal ) Tj ET Q q 0 0 0 rg BT 533.49 637.00 Td (level ) Tj ET Q q 0 0 0 rg BT 555.00 637.00 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 623.50 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 104.52 623.50 Td (through ) Tj ET Q q 0 0 0 rg BT 137.54 623.50 Td (the ) Tj ET Q q 0 0 0 rg BT 152.55 623.50 Td (active ) Tj ET Q q 0 0 0 rg BT 178.56 623.50 Td (management ) Tj ET Q q 0 0 0 rg BT 233.60 623.50 Td (of ) Tj ET Q q 0 0 0 rg BT 243.60 623.50 Td (our ) Tj ET Q q 0 0 0 rg BT 259.11 623.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 287.62 623.50 Td (and ) Tj ET Q q 0 0 0 rg BT 305.14 623.50 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 341.65 623.50 Td (as ) Tj ET Q q 0 0 0 rg BT 353.66 623.50 Td (well ) Tj ET Q q 0 0 0 rg BT 371.66 623.50 Td (as ) Tj ET Q q 0 0 0 rg BT 383.67 623.50 Td (our ) Tj ET Q q 0 0 0 rg BT 399.18 623.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 420.69 623.50 Td (flows.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 604.00 Td (As ) Tj ET Q q 0 0 0 rg BT 85.36 604.00 Td (at ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 95.72 604.00 Td (September30, ) Tj ET Q q 0 0 0 rg BT 157.62 604.00 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 177.64 604.00 Td (, ) Tj ET Q q 0 0 0 rg BT 182.99 604.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 204.86 604.00 Td (and ) Tj ET Q q 0 0 0 rg BT 222.74 604.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 244.60 604.00 Td (equivalents ) Tj ET Q q 0 0 0 rg BT 292.99 604.00 Td (were ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 315.36 604.00 Td ($596.5 ) Tj ET Q q 0 0 0 rg BT 345.74 604.00 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 371.25 604.00 Td (. ) Tj ET Q q 0 0 0 rg BT 376.42 604.00 Td (The ) Tj ET Q q 0 0 0 rg BT 394.78 604.00 Td (following ) Tj ET Q q 0 0 0 rg BT 432.66 604.00 Td (table ) Tj ET Q q 0 0 0 rg BT 455.03 604.00 Td (provides ) Tj ET Q q 0 0 0 rg BT 491.91 604.00 Td (a ) Tj ET Q q 0 0 0 rg BT 499.77 604.00 Td (summary ) Tj ET Q q 0 0 0 rg BT 539.63 604.00 Td (of ) Tj ET Q q 0 0 0 rg BT 549.99 604.00 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 590.50 Td (generation ) Tj ET Q q 0 0 0 rg BT 117.04 590.50 Td (and ) Tj ET Q q 0 0 0 rg BT 134.55 590.50 Td (use ) Tj ET Q q 0 0 0 rg BT 151.56 590.50 Td (of ) Tj ET Q q 0 0 0 rg BT 161.57 590.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 183.08 590.50 Td (for ) Tj ET Q q 0 0 0 rg BT 196.08 590.50 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 211.10 590.50 Td (years ) Tj ET Q q 0 0 0 rg BT 235.60 590.50 Td (ended ) Tj ET Q q 0 0 0 rg BT 263.13 590.50 Td (September ) Tj ET Q q 0 0 0 rg BT 309.66 590.50 Td (30,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 322.17 590.50 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 324.67 590.50 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 344.69 590.50 Td ( ) Tj ET Q q 0 0 0 rg BT 347.19 590.50 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 364.71 590.50 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.73 590.50 Td (.) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 72.50 574.00 302.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 374.50 574.00 63.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 437.50 574.00 63.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 500.50 574.00 63.00 -26.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 374.50 548.00 63.00 -11.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 374.50 537.00 63.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 374.50 524.00 63.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 374.50 511.00 63.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 374.50 498.00 63.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 485.00 302.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 374.50 485.00 63.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 437.50 485.00 63.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 500.50 485.00 63.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 574 m 374.5 574 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 374.5 574 m 437.5 574 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437.5 574 m 500.5 574 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 574 m 563.5 574 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 472 m 374.5 472 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 374.5 472 m 437.5 472 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437.5 472 m 500.5 472 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 472 m 563.5 472 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 75.00 552.23 Td (For the years ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 410.20 552.23 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 473.20 552.23 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 524.65 552.23 Td (Change) Tj ET Q BT /F4 7.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 75.00 540.40 Td (In thousands of CAD) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 528.23 Td (Cash provided by operating activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.70 528.28 Td (1,333,074) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 455.70 528.28 Td (1,289,310) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.80 528.28 Td (43,764) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 515.23 Td (Cash used in investing activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 396.70 515.28 Td (\(382,731) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.30 515.23 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 459.70 515.28 Td (\(257,127) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 491.30 515.23 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.70 515.28 Td (\(125,604) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.30 515.23 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 502.23 Td (Cash used in financing activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 396.70 502.28 Td (\(666,304) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.30 502.23 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 453.00 502.28 Td (\(1,303,663) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 491.30 502.23 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.35 502.28 Td (637,359) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 489.23 Td (Effect of foreign exchange rate changes on cash and cash equivalents) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.25 489.28 Td (7,228) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 466.80 489.28 Td (41,027) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.15 489.23 Td (\(33,799) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.30 489.23 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 476.23 Td (Net increase \(decrease\) in cash and cash equivalents) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.30 476.23 Td (291,267) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 459.70 476.28 Td (\(230,453) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 491.30 476.23 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.35 476.28 Td (521,720) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 446.70 Td (4.1.1. ) Tj ET Q q 0 0 0 rg BT 98.52 446.70 Td (Cash ) Tj ET Q q 0 0 0 rg BT 123.03 446.70 Td (Provided ) Tj ET Q q 0 0 0 rg BT 164.04 446.70 Td (by ) Tj ET Q q 0 0 0 rg BT 177.04 446.70 Td (Operating ) Tj ET Q q 0 0 0 rg BT 221.71 446.70 Td (Activities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 430.20 Td (For ) Tj ET Q q 0 0 0 rg BT 88.04 430.20 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.09 430.20 Td (year ) Tj ET Q q 0 0 0 rg BT 123.13 430.20 Td (ended ) Tj ET Q q 0 0 0 rg BT 150.70 430.20 Td (September ) Tj ET Q q 0 0 0 rg BT 197.26 430.20 Td (30, ) Tj ET Q q 0 0 0 rg BT 212.31 430.20 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 232.33 430.20 Td (, ) Tj ET Q q 0 0 0 rg BT 237.37 430.20 Td (cash ) Tj ET Q q 0 0 0 rg BT 258.92 430.20 Td (provided ) Tj ET Q q 0 0 0 rg BT 295.98 430.20 Td (by ) Tj ET Q q 0 0 0 rg BT 308.03 430.20 Td (operating ) Tj ET Q q 0 0 0 rg BT 348.10 430.20 Td (activities ) Tj ET Q q 0 0 0 rg BT 385.15 430.20 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 403.69 430.20 Td ($1,333.1 ) Tj ET Q q 0 0 0 rg BT 441.26 430.20 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.77 430.20 Td ( ) Tj ET Q q 0 0 0 rg BT 469.31 430.20 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 479.85 430.20 Td (12.5%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 505.37 430.20 Td ( ) Tj ET Q q 0 0 0 rg BT 507.90 430.20 Td (of ) Tj ET Q q 0 0 0 rg BT 517.95 430.20 Td (revenue ) Tj ET Q q 0 0 0 rg BT 553.01 430.20 Td (as ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 416.70 Td (compared ) Tj ET Q q 0 0 0 rg BT 114.52 416.70 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 124.53 416.70 Td ($1,289.3 ) Tj ET Q q 0 0 0 rg BT 162.06 416.70 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 187.57 416.70 Td ( ) Tj ET Q q 0 0 0 rg BT 190.07 416.70 Td (or ) Tj ET Q q 0 0 0 rg BT 200.57 416.70 Td (12.5% ) Tj ET Q q 0 0 0 rg BT 228.59 416.70 Td (from ) Tj ET Q q 0 0 0 rg BT 249.09 416.70 Td (the ) Tj ET Q q 0 0 0 rg BT 264.10 416.70 Td (prior ) Tj ET Q q 0 0 0 rg BT 284.61 416.70 Td (year) Tj ET Q q 0 0 0 rg BT 301.62 416.70 Td (.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 397.20 Td (The ) Tj ET Q q 0 0 0 rg BT 90.01 397.20 Td (following ) Tj ET Q q 0 0 0 rg BT 127.53 397.20 Td (table ) Tj ET Q q 0 0 0 rg BT 149.55 397.20 Td (provides ) Tj ET Q q 0 0 0 rg BT 186.06 397.20 Td (a ) Tj ET Q q 0 0 0 rg BT 193.57 397.20 Td (summary ) Tj ET Q q 0 0 0 rg BT 233.07 397.20 Td (of ) Tj ET Q q 0 0 0 rg BT 243.08 397.20 Td (the ) Tj ET Q q 0 0 0 rg BT 258.09 397.20 Td (generation ) Tj ET Q q 0 0 0 rg BT 303.13 397.20 Td (and ) Tj ET Q q 0 0 0 rg BT 320.64 397.20 Td (use ) Tj ET Q q 0 0 0 rg BT 337.65 397.20 Td (of ) Tj ET Q q 0 0 0 rg BT 347.66 397.20 Td (cash ) Tj ET Q q 0 0 0 rg BT 369.17 397.20 Td (from ) Tj ET Q q 0 0 0 rg BT 389.67 397.20 Td (operating ) Tj ET Q q 0 0 0 rg BT 429.70 397.20 Td (activities:) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 72.50 386.70 301.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 373.50 386.70 63.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 436.50 386.70 63.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 499.50 386.70 63.00 -26.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 373.50 360.70 63.00 -11.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 373.50 349.70 63.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 373.50 336.70 63.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 373.50 323.70 63.00 -14.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 373.50 309.70 63.00 -21.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 373.50 288.70 63.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 373.50 275.70 63.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 373.50 262.70 63.00 -20.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 373.50 242.70 63.00 -14.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 373.50 228.70 63.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 215.70 301.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 373.50 215.70 63.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 436.50 215.70 63.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 499.50 215.70 63.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 386.70000000000005 m 373.5 386.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373.5 386.70000000000005 m 436.5 386.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 436.5 386.70000000000005 m 499.5 386.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 499.5 386.70000000000005 m 562.5 386.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 202.70000000000005 m 373.5 202.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373.5 202.70000000000005 m 436.5 202.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 436.5 202.70000000000005 m 499.5 202.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 499.5 202.70000000000005 m 562.5 202.70000000000005 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 75.00 364.93 Td (For the years ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 409.20 364.93 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 472.20 364.93 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 523.65 364.93 Td (Change) Tj ET Q BT /F4 7.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 75.00 353.10 Td (In thousands of CAD) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 340.93 Td (Net earnings) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 393.25 340.98 Td (1,068,716) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 462.90 340.93 Td (977,556) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.35 340.98 Td (91,160) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 327.93 Td (Amortization and depreciation) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.90 327.93 Td (400,060) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 462.90 327.93 Td (424,044) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.70 327.93 Td (\(23,984) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.85 327.93 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 313.93 Td (Other adjustments ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 142.59 317.74 Td (1) Tj ET Q BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.84 w 0 i [] 0 d 1 J 1 j 3 M 399.9 313.20820312500007 m 428.81796875 313.20820312500007 l s q 0 0 0 rg BT 399.90 314.48 Td (132,171) Tj ET Q BT /F3 8.00 Tf ET 0 0 0 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 467.3 312.93515625000003 m 491.76875 312.93515625000003 l s q 0 0 0 rg BT 467.30 314.08 Td (89,451) Tj ET Q BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.84 w 0 i [] 0 d 1 J 1 j 3 M 530.35 313.20820312500007 m 554.81875 313.20820312500007 l s q 0 0 0 rg BT 530.35 314.48 Td (42,720) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 300.93 Td (Cash flow from operating activities before net change in non-cash working) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 292.93 Td (capital items) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 393.25 292.98 Td (1,600,947) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 456.25 292.98 Td (1,491,051) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.90 292.93 Td (109,896) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 75.00 279.88 Td (Net change in non-cash working capital items:) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 87.00 266.93 Td (Accounts receivable, work in progress and deferred revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 397.25 266.98 Td (\(134,632) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.85 266.93 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 464.70 266.93 Td (\(25,517) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 491.85 266.93 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.25 266.98 Td (\(109,115) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.85 266.93 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 87.00 254.38 Td (Accounts payable and accrued liabilities, accrued compensation, provisions and) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 87.00 246.38 Td (long-term liabilities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 397.25 246.98 Td (\(115,853) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.85 246.93 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 460.25 246.98 Td (\(204,169) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 491.85 246.93 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.35 246.98 Td (88,316) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 87.00 232.93 Td (Other ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 109.23 236.74 Td (2) Tj ET Q BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.84 w 0 i [] 0 d 1 J 1 j 3 M 401.7 232.20820312500007 m 428.8328125 232.20820312500007 l s q 0 0 0 rg BT 401.70 233.48 Td (\(17,388) Tj ET Q BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.84 w 0 i [] 0 d 1 J 1 j 3 M 428.85 231.658203125 m 431.5140625 231.658203125 l s q 0 0 0 rg BT 428.85 232.93 Td (\)) Tj ET Q BT /F3 8.00 Tf ET 0 0 0 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 467.3 231.9351562500001 m 491.76875 231.9351562500001 l s q 0 0 0 rg BT 467.30 233.08 Td (27,945) Tj ET Q BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.84 w 0 i [] 0 d 1 J 1 j 3 M 527.7 232.20820312500007 m 554.8328125 232.20820312500007 l s q 0 0 0 rg BT 527.70 233.48 Td (\(45,333) Tj ET Q BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.84 w 0 i [] 0 d 1 J 1 j 3 M 554.85 231.658203125 m 557.5140625 231.658203125 l s q 0 0 0 rg BT 554.85 232.93 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 219.93 Td (Net change in non-cash working capital items) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 397.25 219.98 Td (\(267,873) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.85 219.93 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 460.25 219.98 Td (\(201,741) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 491.85 219.93 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.70 219.93 Td (\(66,132) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.85 219.93 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 206.93 Td (Cash provided by operating activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 393.25 206.98 Td (1,333,074) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 456.25 206.98 Td (1,289,310) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.35 206.98 Td (43,764) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 72.00 194.54 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.53 191.20 Td ( ) Tj ET Q q 0 0 0 rg BT 77.03 191.20 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 94.50 191.20 Td (Comprised ) Tj ET Q q 0 0 0 rg BT 130.29 191.20 Td (of ) Tj ET Q q 0 0 0 rg BT 138.07 191.20 Td (deferred ) Tj ET Q q 0 0 0 rg BT 166.09 191.20 Td (income ) Tj ET Q q 0 0 0 rg BT 190.60 191.20 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 211.22 191.20 Td (foreign ) Tj ET Q q 0 0 0 rg BT 234.57 191.20 Td (exchange ) Tj ET Q q 0 0 0 rg BT 266.87 191.20 Td (gain ) Tj ET Q q 0 0 0 rg BT 282.05 191.20 Td (and ) Tj ET Q q 0 0 0 rg BT 295.67 191.20 Td (share-based ) Tj ET Q q 0 0 0 rg BT 336.53 191.20 Td (payment ) Tj ET Q q 0 0 0 rg BT 365.33 191.20 Td (costs.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 72.00 185.84 Td (2 ) Tj ET Q BT /F3 4.55 Tf ET q 0 0 0 rg BT 76.50 185.84 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 77.76 182.50 Td ( ) Tj ET Q q 0 0 0 rg BT 94.50 182.50 Td (Comprised ) Tj ET Q q 0 0 0 rg BT 130.88 182.50 Td (of ) Tj ET Q q 0 0 0 rg BT 139.25 182.50 Td (prepaid ) Tj ET Q q 0 0 0 rg BT 165.14 182.50 Td (expenses ) Tj ET Q q 0 0 0 rg BT 197.64 182.50 Td (and ) Tj ET Q q 0 0 0 rg BT 211.86 182.50 Td (other ) Tj ET Q q 0 0 0 rg BT 230.35 182.50 Td (assets, ) Tj ET Q q 0 0 0 rg BT 255.06 182.50 Td (long-term ) Tj ET Q q 0 0 0 rg BT 287.16 182.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 315.38 182.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 338.15 182.50 Td (related ) Tj ET Q q 0 0 0 rg BT 362.08 182.50 Td (to ) Tj ET Q q 0 0 0 rg BT 370.46 182.50 Td (operating ) Tj ET Q q 0 0 0 rg BT 402.18 182.50 Td (activities, ) Tj ET Q q 0 0 0 rg BT 433.50 182.50 Td (retirement ) Tj ET Q q 0 0 0 rg BT 467.55 182.50 Td (benefits ) Tj ET Q q 0 0 0 rg BT 494.60 182.50 Td (obligations, ) Tj ET Q q 0 0 0 rg BT 532.55 182.50 Td (derivative ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 94.50 174.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 122.13 174.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 160.25 174.10 Td (and ) Tj ET Q q 0 0 0 rg BT 173.88 174.10 Td (income ) Tj ET Q q 0 0 0 rg BT 198.39 174.10 Td (taxes.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 157.60 Td (For ) Tj ET Q q 0 0 0 rg BT 87.91 157.60 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 102.83 157.60 Td (year ) Tj ET Q q 0 0 0 rg BT 122.75 157.60 Td (ended ) Tj ET Q q 0 0 0 rg BT 150.19 157.60 Td (September ) Tj ET Q q 0 0 0 rg BT 196.63 157.60 Td (30, ) Tj ET Q q 0 0 0 rg BT 211.55 157.60 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 231.57 157.60 Td (, ) Tj ET Q q 0 0 0 rg BT 236.48 157.60 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 251.40 157.60 Td ($267.9 ) Tj ET Q q 0 0 0 rg BT 281.34 157.60 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.85 157.60 Td ( ) Tj ET Q q 0 0 0 rg BT 309.26 157.60 Td (of ) Tj ET Q q 0 0 0 rg BT 319.18 157.60 Td (net ) Tj ET Q q 0 0 0 rg BT 334.10 157.60 Td (change ) Tj ET Q q 0 0 0 rg BT 366.04 157.60 Td (in ) Tj ET Q q 0 0 0 rg BT 375.45 157.60 Td (non-cash ) Tj ET Q q 0 0 0 rg BT 414.89 157.60 Td (working ) Tj ET Q q 0 0 0 rg BT 448.31 157.60 Td (capital ) Tj ET Q q 0 0 0 rg BT 476.74 157.60 Td (items ) Tj ET Q q 0 0 0 rg BT 500.65 157.60 Td (was ) Tj ET Q q 0 0 0 rg BT 519.07 157.60 Td (mostly ) Tj ET Q q 0 0 0 rg BT 547.48 157.60 Td (due ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 144.10 Td (to ) Tj ET Q q 0 0 0 rg BT 82.01 144.10 Td (: ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 108.00 130.60 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 121.50 130.60 Td (The ) Tj ET Q q 0 0 0 rg BT 139.51 130.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 176.03 130.60 Td (in ) Tj ET Q q 0 0 0 rg BT 185.53 130.60 Td (other ) Tj ET Q q 0 0 0 rg BT 208.55 130.60 Td (receivables ) Tj ET Q q 0 0 0 rg BT 256.57 130.60 Td (comprised ) Tj ET Q q 0 0 0 rg BT 300.59 130.60 Td (mainly ) Tj ET Q q 0 0 0 rg BT 329.09 130.60 Td (of ) Tj ET Q q 0 0 0 rg BT 339.10 130.60 Td (tax ) Tj ET Q q 0 0 0 rg BT 353.61 130.60 Td (credits ) Tj ET Q q 0 0 0 rg BT 382.61 130.60 Td (receivable; ) Tj ET Q q 0 0 0 rg BT 428.64 130.60 Td (and, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 108.00 111.10 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 121.50 111.10 Td (The ) Tj ET Q q 0 0 0 rg BT 140.86 111.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 181.74 111.10 Td (in ) Tj ET Q q 0 0 0 rg BT 192.60 111.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 232.48 111.10 Td (payable ) Tj ET Q q 0 0 0 rg BT 267.86 111.10 Td (and ) Tj ET Q q 0 0 0 rg BT 286.73 111.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 322.61 111.10 Td (liabilities, ) Tj ET Q q 0 0 0 rg BT 362.98 111.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 398.85 111.10 Td (compensation, ) Tj ET Q q 0 0 0 rg BT 461.24 111.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 505.62 111.10 Td (and ) Tj ET Q q 0 0 0 rg BT 524.49 111.10 Td (long-term ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 121.50 97.60 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 158.47 97.60 Td (mainly ) Tj ET Q q 0 0 0 rg BT 187.42 97.60 Td (driven ) Tj ET Q q 0 0 0 rg BT 214.89 97.60 Td (by ) Tj ET Q q 0 0 0 rg BT 227.35 97.60 Td (the ) Tj ET Q q 0 0 0 rg BT 242.81 97.60 Td (net ) Tj ET Q q 0 0 0 rg BT 258.27 97.60 Td (decrease ) Tj ET Q q 0 0 0 rg BT 298.25 97.60 Td (in ) Tj ET Q q 0 0 0 rg BT 308.21 97.60 Td (provisions ) Tj ET Q q 0 0 0 rg BT 351.68 97.60 Td (including ) Tj ET Q q 0 0 0 rg BT 390.15 97.60 Td (the ) Tj ET Q q 0 0 0 rg BT 405.62 97.60 Td (payments ) Tj ET Q q 0 0 0 rg BT 447.59 97.60 Td (of ) Tj ET Q q 0 0 0 rg BT 458.05 97.60 Td (the ) Tj ET Q q 0 0 0 rg BT 473.51 97.60 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 526.48 97.60 Td (provision ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 121.50 84.10 Td (and ) Tj ET Q q 0 0 0 rg BT 139.02 84.10 Td (the ) Tj ET Q q 0 0 0 rg BT 154.03 84.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 180.54 84.10 Td (of ) Tj ET Q q 0 0 0 rg BT 190.54 84.10 Td (payroll ) Tj ET Q q 0 0 0 rg BT 219.56 84.10 Td (accruals. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 64.60 Td (The ) Tj ET Q q 0 0 0 rg BT 90.01 64.60 Td (timing ) Tj ET Q q 0 0 0 rg BT 116.52 64.60 Td (of ) Tj ET Q q 0 0 0 rg BT 126.52 64.60 Td (our ) Tj ET Q q 0 0 0 rg BT 142.03 64.60 Td (working ) Tj ET Q q 0 0 0 rg BT 175.54 64.60 Td (capital ) Tj ET Q q 0 0 0 rg BT 204.06 64.60 Td (inflows ) Tj ET Q q 0 0 0 rg BT 234.07 64.60 Td (and ) Tj ET Q q 0 0 0 rg BT 251.59 64.60 Td (outflows ) Tj ET Q q 0 0 0 rg BT 287.10 64.60 Td (will ) Tj ET Q q 0 0 0 rg BT 302.10 64.60 Td (always ) Tj ET Q q 0 0 0 rg BT 332.11 64.60 Td (have ) Tj ET Q q 0 0 0 rg BT 354.13 64.60 Td (an ) Tj ET Q q 0 0 0 rg BT 366.64 64.60 Td (impact ) Tj ET Q q 0 0 0 rg BT 395.65 64.60 Td (on ) Tj ET Q q 0 0 0 rg BT 408.16 64.60 Td (the ) Tj ET Q q 0 0 0 rg BT 423.17 64.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 444.68 64.60 Td (flow ) Tj ET Q q 0 0 0 rg BT 463.19 64.60 Td (from ) Tj ET Q q 0 0 0 rg BT 483.69 64.60 Td (operations.) Tj ET Q endstream endobj 51 0 obj <> endobj 52 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (24) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (4.1.2. ) Tj ET Q q 0 0 0 rg BT 98.52 708.95 Td (Cash ) Tj ET Q q 0 0 0 rg BT 123.03 708.95 Td (Used ) Tj ET Q q 0 0 0 rg BT 147.53 708.95 Td (in ) Tj ET Q q 0 0 0 rg BT 158.03 708.95 Td (Investing ) Tj ET Q q 0 0 0 rg BT 199.71 708.95 Td (Activities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 692.45 Td (For ) Tj ET Q q 0 0 0 rg BT 88.35 692.45 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.72 692.45 Td (year ) Tj ET Q q 0 0 0 rg BT 124.08 692.45 Td (ended ) Tj ET Q q 0 0 0 rg BT 151.96 692.45 Td (September ) Tj ET Q q 0 0 0 rg BT 198.84 692.45 Td (30, ) Tj ET Q q 0 0 0 rg BT 214.21 692.45 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 234.23 692.45 Td (, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 239.58 692.45 Td ($382.7 ) Tj ET Q q 0 0 0 rg BT 269.97 692.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 295.47 692.45 Td ( ) Tj ET Q q 0 0 0 rg BT 298.33 692.45 Td (were ) Tj ET Q q 0 0 0 rg BT 320.69 692.45 Td (used ) Tj ET Q q 0 0 0 rg BT 343.06 692.45 Td (in ) Tj ET Q q 0 0 0 rg BT 352.92 692.45 Td (investing ) Tj ET Q q 0 0 0 rg BT 391.29 692.45 Td (activities ) Tj ET Q q 0 0 0 rg BT 428.66 692.45 Td (while ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 452.02 692.45 Td ($257.1 ) Tj ET Q q 0 0 0 rg BT 482.40 692.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 507.91 692.45 Td ( ) Tj ET Q q 0 0 0 rg BT 510.77 692.45 Td (were ) Tj ET Q q 0 0 0 rg BT 533.13 692.45 Td (used ) Tj ET Q q 0 0 0 rg BT 555.50 692.45 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 678.95 Td (the ) Tj ET Q q 0 0 0 rg BT 87.01 678.95 Td (prior ) Tj ET Q q 0 0 0 rg BT 107.52 678.95 Td (year) Tj ET Q q 0 0 0 rg BT 124.53 678.95 Td (. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 659.45 Td (The ) Tj ET Q q 0 0 0 rg BT 90.01 659.45 Td (following ) Tj ET Q q 0 0 0 rg BT 127.53 659.45 Td (table ) Tj ET Q q 0 0 0 rg BT 149.55 659.45 Td (provides ) Tj ET Q q 0 0 0 rg BT 186.06 659.45 Td (a ) Tj ET Q q 0 0 0 rg BT 193.57 659.45 Td (summary ) Tj ET Q q 0 0 0 rg BT 233.07 659.45 Td (of ) Tj ET Q q 0 0 0 rg BT 243.08 659.45 Td (the ) Tj ET Q q 0 0 0 rg BT 258.09 659.45 Td (generation ) Tj ET Q q 0 0 0 rg BT 303.13 659.45 Td (and ) Tj ET Q q 0 0 0 rg BT 320.64 659.45 Td (use ) Tj ET Q q 0 0 0 rg BT 337.65 659.45 Td (of ) Tj ET Q q 0 0 0 rg BT 347.66 659.45 Td (cash ) Tj ET Q q 0 0 0 rg BT 369.17 659.45 Td (from ) Tj ET Q q 0 0 0 rg BT 389.67 659.45 Td (investing ) Tj ET Q q 0 0 0 rg BT 427.69 659.45 Td (activities:) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 72.50 648.95 251.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 323.50 648.95 80.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 403.50 648.95 80.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 483.50 648.95 80.00 -26.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 323.50 622.95 80.00 -12.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 323.50 610.95 80.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 323.50 597.95 80.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 323.50 584.95 80.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 323.50 571.95 80.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 323.50 558.95 80.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 323.50 545.95 80.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 323.50 532.95 80.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 519.95 251.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 323.50 519.95 80.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 403.50 519.95 80.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 483.50 519.95 80.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 648.95 m 323.5 648.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 323.5 648.95 m 403.5 648.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 648.95 m 483.5 648.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 648.95 m 563.5 648.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 506.95 m 323.5 506.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 323.5 506.95 m 403.5 506.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 506.95 m 483.5 506.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 506.95 m 563.5 506.95 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 75.00 627.18 Td (For the years ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 376.20 627.18 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 456.20 627.18 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 524.65 627.18 Td (Change) Tj ET Q BT /F4 7.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 75.00 615.15 Td (In thousands of CAD) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 602.43 Td (Business acquisitions) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.15 602.43 Td (\(38,442) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.30 602.43 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 466.30 602.48 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.15 602.43 Td (\(38,442) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.30 602.43 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 589.18 Td (Proceeds from sale of capital assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 369.80 589.23 Td (10,254) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 449.80 589.23 Td (15,255) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.60 589.23 Td (\(5,001) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.30 589.18 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 576.18 Td (Purchase of property, plant and equipment) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.70 576.23 Td (\(165,516) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.30 576.18 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 442.70 576.23 Td (\(122,492) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 474.30 576.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.15 576.18 Td (\(43,024) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.30 576.18 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 563.18 Td (Additions to contract costs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.70 563.23 Td (\(103,156) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.30 563.18 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 447.15 563.18 Td (\(78,815) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 474.30 563.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.15 563.18 Td (\(24,341) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.30 563.18 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 550.18 Td (Additions to intangible assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.70 550.23 Td (\(100,963) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.30 550.18 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 447.15 550.18 Td (\(71,357) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 474.30 550.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.15 550.18 Td (\(29,606) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.30 550.18 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 537.18 Td (Net proceeds from sale \(purchase\) of long-term investments) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 369.80 537.23 Td (14,928) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 451.55 537.18 Td (\(4,736) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 474.30 537.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.80 537.23 Td (19,664) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 524.18 Td (Payments received from long-term receivables) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 380.95 524.23 Td (164) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 454.25 524.23 Td (5,018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.60 524.23 Td (\(4,854) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.30 524.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 511.18 Td (Cash used in investing activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.70 511.23 Td (\(382,731) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.30 511.18 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 442.70 511.23 Td (\(257,127) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 474.30 511.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.70 511.23 Td (\(125,604) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.30 511.18 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 484.95 Td (The ) Tj ET Q q 0 0 0 rg BT 89.72 484.95 Td (increase ) Tj ET Q q 0 0 0 rg BT 125.95 484.95 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 135.67 484.95 Td ($125.6 ) Tj ET Q q 0 0 0 rg BT 165.40 484.95 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 190.91 484.95 Td ( ) Tj ET Q q 0 0 0 rg BT 193.12 484.95 Td (in ) Tj ET Q q 0 0 0 rg BT 202.34 484.95 Td (cash ) Tj ET Q q 0 0 0 rg BT 223.56 484.95 Td (used ) Tj ET Q q 0 0 0 rg BT 245.28 484.95 Td (in ) Tj ET Q q 0 0 0 rg BT 254.50 484.95 Td (investing ) Tj ET Q q 0 0 0 rg BT 292.23 484.95 Td (activities ) Tj ET Q q 0 0 0 rg BT 328.95 484.95 Td (during ) Tj ET Q q 0 0 0 rg BT 356.18 484.95 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 370.90 484.95 Td (year ) Tj ET Q q 0 0 0 rg BT 390.62 484.95 Td (ended ) Tj ET Q q 0 0 0 rg BT 417.86 484.95 Td (September ) Tj ET Q q 0 0 0 rg BT 464.10 484.95 Td (30, ) Tj ET Q q 0 0 0 rg BT 478.82 484.95 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 498.84 484.95 Td ( ) Tj ET Q q 0 0 0 rg BT 501.05 484.95 Td (was ) Tj ET Q q 0 0 0 rg BT 519.27 484.95 Td (mainly ) Tj ET Q q 0 0 0 rg BT 547.48 484.95 Td (due ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 471.45 Td (to ) Tj ET Q q 0 0 0 rg BT 82.01 471.45 Td (: ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 108.00 457.95 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 121.50 457.95 Td (The ) Tj ET Q q 0 0 0 rg BT 138.50 457.95 Td (purchase ) Tj ET Q q 0 0 0 rg BT 177.02 457.95 Td (of ) Tj ET Q q 0 0 0 rg BT 186.02 457.95 Td (property) Tj ET Q q 0 0 0 rg BT 218.37 457.95 Td (, ) Tj ET Q q 0 0 0 rg BT 222.37 457.95 Td (plant ) Tj ET Q q 0 0 0 rg BT 243.38 457.95 Td (and ) Tj ET Q q 0 0 0 rg BT 259.89 457.95 Td (equipment ) Tj ET Q q 0 0 0 rg BT 303.41 457.95 Td (due ) Tj ET Q q 0 0 0 rg BT 319.92 457.95 Td (to ) Tj ET Q q 0 0 0 rg BT 328.92 457.95 Td (investments ) Tj ET Q q 0 0 0 rg BT 378.44 457.95 Td (across ) Tj ET Q q 0 0 0 rg BT 406.44 457.95 Td (our ) Tj ET Q q 0 0 0 rg BT 420.94 457.95 Td (data ) Tj ET Q q 0 0 0 rg BT 439.95 457.95 Td (center ) Tj ET Q q 0 0 0 rg BT 466.46 457.95 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 520.47 457.95 Td (operations ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 121.50 444.45 Td (and ) Tj ET Q q 0 0 0 rg BT 139.02 444.45 Td (global ) Tj ET Q q 0 0 0 rg BT 165.54 444.45 Td (delivery ) Tj ET Q q 0 0 0 rg BT 199.05 444.45 Td (centers;) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 108.00 424.95 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 121.50 424.95 Td (Cash ) Tj ET Q q 0 0 0 rg BT 145.01 424.95 Td (used ) Tj ET Q q 0 0 0 rg BT 167.03 424.95 Td (in ) Tj ET Q q 0 0 0 rg BT 176.53 424.95 Td (business ) Tj ET Q q 0 0 0 rg BT 214.55 424.95 Td (acquisitions; ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 108.00 405.45 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 121.50 405.45 Td (Investments ) Tj ET Q q 0 0 0 rg BT 171.54 405.45 Td (in ) Tj ET Q q 0 0 0 rg BT 180.06 405.45 Td (intangible ) Tj ET Q q 0 0 0 rg BT 220.11 405.45 Td (assets ) Tj ET Q q 0 0 0 rg BT 247.63 405.45 Td (for ) Tj ET Q q 0 0 0 rg BT 259.65 405.45 Td (the ) Tj ET Q q 0 0 0 rg BT 273.68 405.45 Td (purchase ) Tj ET Q q 0 0 0 rg BT 312.22 405.45 Td (of ) Tj ET Q q 0 0 0 rg BT 321.24 405.45 Td (software ) Tj ET Q q 0 0 0 rg BT 356.77 405.45 Td (licenses ) Tj ET Q q 0 0 0 rg BT 390.81 405.45 Td (used ) Tj ET Q q 0 0 0 rg BT 411.84 405.45 Td (mainly ) Tj ET Q q 0 0 0 rg BT 439.36 405.45 Td (in ) Tj ET Q q 0 0 0 rg BT 447.88 405.45 Td (the ) Tj ET Q q 0 0 0 rg BT 461.91 405.45 Td (delivery ) Tj ET Q q 0 0 0 rg BT 494.44 405.45 Td (of ) Tj ET Q q 0 0 0 rg BT 503.46 405.45 Td (client ) Tj ET Q q 0 0 0 rg BT 525.99 405.45 Td (contracts ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 121.50 391.95 Td (as ) Tj ET Q q 0 0 0 rg BT 133.51 391.95 Td (well ) Tj ET Q q 0 0 0 rg BT 151.51 391.95 Td (as ) Tj ET Q q 0 0 0 rg BT 163.52 391.95 Td (investment ) Tj ET Q q 0 0 0 rg BT 209.54 391.95 Td (in ) Tj ET Q q 0 0 0 rg BT 219.04 391.95 Td (internal-use ) Tj ET Q q 0 0 0 rg BT 268.57 391.95 Td (software; ) Tj ET Q q 0 0 0 rg BT 307.58 391.95 Td (and,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 108.00 372.45 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 121.50 372.45 Td (Cash ) Tj ET Q q 0 0 0 rg BT 145.01 372.45 Td (used ) Tj ET Q q 0 0 0 rg BT 167.03 372.45 Td (in ) Tj ET Q q 0 0 0 rg BT 176.53 372.45 Td (contract ) Tj ET Q q 0 0 0 rg BT 211.05 372.45 Td (costs ) Tj ET Q q 0 0 0 rg BT 234.55 372.45 Td (for ) Tj ET Q q 0 0 0 rg BT 247.56 372.45 Td (new ) Tj ET Q q 0 0 0 rg BT 266.57 372.45 Td (clients. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 352.95 Td (This ) Tj ET Q q 0 0 0 rg BT 91.50 352.95 Td (was ) Tj ET Q q 0 0 0 rg BT 110.01 352.95 Td (partially ) Tj ET Q q 0 0 0 rg BT 143.52 352.95 Td (of) Tj ET Q q 0 0 0 rg BT 150.86 352.95 Td (fset ) Tj ET Q q 0 0 0 rg BT 167.87 352.95 Td (by ) Tj ET Q q 0 0 0 rg BT 179.88 352.95 Td (the ) Tj ET Q q 0 0 0 rg BT 194.89 352.95 Td (net ) Tj ET Q q 0 0 0 rg BT 209.90 352.95 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 249.42 352.95 Td (from ) Tj ET Q q 0 0 0 rg BT 269.93 352.95 Td (the ) Tj ET Q q 0 0 0 rg BT 284.94 352.95 Td (sale ) Tj ET Q q 0 0 0 rg BT 303.95 352.95 Td (of ) Tj ET Q q 0 0 0 rg BT 313.95 352.95 Td (long-term ) Tj ET Q q 0 0 0 rg BT 354.47 352.95 Td (investments.) Tj ET Q endstream endobj 53 0 obj <> endobj 54 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (25) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (4.1.3. ) Tj ET Q q 0 0 0 rg BT 98.52 708.95 Td (Cash ) Tj ET Q q 0 0 0 rg BT 123.03 708.95 Td (Used ) Tj ET Q q 0 0 0 rg BT 147.53 708.95 Td (in ) Tj ET Q q 0 0 0 rg BT 158.03 708.95 Td (Financing ) Tj ET Q q 0 0 0 rg BT 202.70 708.95 Td (Activities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 692.45 Td (For ) Tj ET Q q 0 0 0 rg BT 87.93 692.45 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 102.88 692.45 Td (year ) Tj ET Q q 0 0 0 rg BT 122.82 692.45 Td (ended ) Tj ET Q q 0 0 0 rg BT 150.28 692.45 Td (September ) Tj ET Q q 0 0 0 rg BT 196.74 692.45 Td (30, ) Tj ET Q q 0 0 0 rg BT 211.68 692.45 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 231.70 692.45 Td (, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 236.64 692.45 Td ($666.3 ) Tj ET Q q 0 0 0 rg BT 266.60 692.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 292.10 692.45 Td ( ) Tj ET Q q 0 0 0 rg BT 294.53 692.45 Td (were ) Tj ET Q q 0 0 0 rg BT 316.48 692.45 Td (used ) Tj ET Q q 0 0 0 rg BT 338.42 692.45 Td (in ) Tj ET Q q 0 0 0 rg BT 347.86 692.45 Td (financing ) Tj ET Q q 0 0 0 rg BT 386.32 692.45 Td (activities ) Tj ET Q q 0 0 0 rg BT 423.27 692.45 Td (while ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 446.21 692.45 Td ($1,303.7 ) Tj ET Q q 0 0 0 rg BT 483.67 692.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 509.18 692.45 Td ( ) Tj ET Q q 0 0 0 rg BT 511.61 692.45 Td (were ) Tj ET Q q 0 0 0 rg BT 533.55 692.45 Td (used ) Tj ET Q q 0 0 0 rg BT 555.50 692.45 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 678.95 Td (the ) Tj ET Q q 0 0 0 rg BT 87.01 678.95 Td (prior ) Tj ET Q q 0 0 0 rg BT 107.52 678.95 Td (year) Tj ET Q q 0 0 0 rg BT 124.53 678.95 Td (. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 659.45 Td (The ) Tj ET Q q 0 0 0 rg BT 90.01 659.45 Td (following ) Tj ET Q q 0 0 0 rg BT 127.53 659.45 Td (table ) Tj ET Q q 0 0 0 rg BT 149.55 659.45 Td (provides ) Tj ET Q q 0 0 0 rg BT 186.06 659.45 Td (a ) Tj ET Q q 0 0 0 rg BT 193.57 659.45 Td (summary ) Tj ET Q q 0 0 0 rg BT 233.07 659.45 Td (of ) Tj ET Q q 0 0 0 rg BT 243.08 659.45 Td (the ) Tj ET Q q 0 0 0 rg BT 258.09 659.45 Td (generation ) Tj ET Q q 0 0 0 rg BT 303.13 659.45 Td (and ) Tj ET Q q 0 0 0 rg BT 320.64 659.45 Td (use ) Tj ET Q q 0 0 0 rg BT 337.65 659.45 Td (of ) Tj ET Q q 0 0 0 rg BT 347.66 659.45 Td (cash ) Tj ET Q q 0 0 0 rg BT 369.17 659.45 Td (from ) Tj ET Q q 0 0 0 rg BT 389.67 659.45 Td (financing ) Tj ET Q q 0 0 0 rg BT 428.20 659.45 Td (activities:) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 72.50 648.95 281.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 353.50 648.95 70.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 423.50 648.95 70.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 493.50 648.95 70.00 -26.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 353.50 622.95 70.00 -12.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 353.50 610.95 70.00 -14.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 353.50 596.95 70.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 353.50 583.95 70.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 353.50 570.95 70.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 353.50 557.95 70.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 544.95 281.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 353.50 544.95 70.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 423.50 544.95 70.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 493.50 544.95 70.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 648.95 m 353.5 648.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353.5 648.95 m 423.5 648.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423.5 648.95 m 493.5 648.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 493.5 648.95 m 563.5 648.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 531.95 m 353.5 531.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353.5 531.95 m 423.5 531.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423.5 531.95 m 493.5 531.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 493.5 531.95 m 563.5 531.95 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 75.00 627.18 Td (For the years ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 396.20 627.18 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 466.20 627.18 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 524.65 627.18 Td (Change) Tj ET Q BT /F4 7.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 75.00 615.15 Td (In thousands of CAD) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 601.18 Td (Net change in long-term debt) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.70 601.23 Td (\(182,651) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.30 601.18 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 452.70 601.23 Td (\(901,566) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 484.30 601.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.35 601.23 Td (718,915) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 588.18 Td (Settlement of derivative financial instruments) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 387.15 588.18 Td (\(24,057) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.30 588.18 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 452.70 588.23 Td (\(121,615) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 484.30 588.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.80 588.23 Td (97,558) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 575.18 Td (Purchase of ClassA subordinate voting shares held in trust) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 387.15 575.18 Td (\(21,795) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.30 575.18 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 457.15 575.18 Td (\(11,099) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 484.30 575.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.15 575.18 Td (\(10,696) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.30 575.18 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 562.18 Td (Repurchase of ClassA subordinate voting shares) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.70 562.23 Td (\(527,286) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.30 562.18 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 452.70 562.23 Td (\(323,069) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 484.30 562.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.70 562.23 Td (\(204,217) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.30 562.18 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 549.18 Td (Issuance of ClassA subordinate voting shares) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 389.80 549.23 Td (89,485) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 459.80 549.23 Td (53,686) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.80 549.23 Td (35,799) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 536.18 Td (Cash used in financing activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.70 536.23 Td (\(666,304) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.30 536.18 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 446.00 536.23 Td (\(1,303,663) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 484.30 536.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.35 536.23 Td (637,359) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 509.95 Td (For ) Tj ET Q q 0 0 0 rg BT 87.83 509.95 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 102.67 509.95 Td (year ) Tj ET Q q 0 0 0 rg BT 122.50 509.95 Td (ended ) Tj ET Q q 0 0 0 rg BT 149.85 509.95 Td (September ) Tj ET Q q 0 0 0 rg BT 196.21 509.95 Td (30, ) Tj ET Q q 0 0 0 rg BT 211.04 509.95 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 231.07 509.95 Td (, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 235.89 509.95 Td ($182.7 ) Tj ET Q q 0 0 0 rg BT 265.75 509.95 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 291.25 509.95 Td ( ) Tj ET Q q 0 0 0 rg BT 293.58 509.95 Td (was ) Tj ET Q q 0 0 0 rg BT 311.91 509.95 Td (used ) Tj ET Q q 0 0 0 rg BT 333.76 509.95 Td (to ) Tj ET Q q 0 0 0 rg BT 343.59 509.95 Td (reduce ) Tj ET Q q 0 0 0 rg BT 373.44 509.95 Td (our ) Tj ET Q q 0 0 0 rg BT 388.77 509.95 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 437.64 509.95 Td (long-term ) Tj ET Q q 0 0 0 rg BT 477.98 509.95 Td (debt ) Tj ET Q q 0 0 0 rg BT 497.82 509.95 Td (mainly ) Tj ET Q q 0 0 0 rg BT 526.15 509.95 Td (driven ) Tj ET Q q 0 0 0 rg BT 552.99 509.95 Td (by ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 496.45 Td (the ) Tj ET Q q 0 0 0 rg BT 87.32 496.45 Td ($129.7 ) Tj ET Q q 0 0 0 rg BT 117.66 496.45 Td (million ) Tj ET Q q 0 0 0 rg BT 145.98 496.45 Td (repayment ) Tj ET Q q 0 0 0 rg BT 191.31 496.45 Td (under ) Tj ET Q q 0 0 0 rg BT 217.14 496.45 Td (the ) Tj ET Q q 0 0 0 rg BT 232.47 496.45 Td (term ) Tj ET Q q 0 0 0 rg BT 253.28 496.45 Td (loan ) Tj ET Q q 0 0 0 rg BT 273.11 496.45 Td (credit ) Tj ET Q q 0 0 0 rg BT 297.93 496.45 Td (facility) Tj ET Q q 0 0 0 rg BT 322.26 496.45 Td (, ) Tj ET Q q 0 0 0 rg BT 327.58 496.45 Td (while ) Tj ET Q q 0 0 0 rg BT 350.90 496.45 Td (we ) Tj ET Q q 0 0 0 rg BT 365.21 496.45 Td (made ) Tj ET Q q 0 0 0 rg BT 390.54 496.45 Td (net ) Tj ET Q q 0 0 0 rg BT 405.86 496.45 Td (repayments ) Tj ET Q q 0 0 0 rg BT 455.70 496.45 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.01 496.45 Td ($901.6 ) Tj ET Q q 0 0 0 rg BT 496.35 496.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 521.86 496.45 Td ( ) Tj ET Q q 0 0 0 rg BT 524.67 496.45 Td (to ) Tj ET Q q 0 0 0 rg BT 534.99 496.45 Td (reduce ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 482.95 Td (our ) Tj ET Q q 0 0 0 rg BT 87.89 482.95 Td (long-term ) Tj ET Q q 0 0 0 rg BT 128.78 482.95 Td (debt ) Tj ET Q q 0 0 0 rg BT 149.17 482.95 Td (last ) Tj ET Q q 0 0 0 rg BT 166.06 482.95 Td (year) Tj ET Q q 0 0 0 rg BT 183.07 482.95 Td (. ) Tj ET Q q 0 0 0 rg BT 188.45 482.95 Td (During ) Tj ET Q q 0 0 0 rg BT 217.84 482.95 Td (the ) Tj ET Q q 0 0 0 rg BT 233.23 482.95 Td (years ) Tj ET Q q 0 0 0 rg BT 258.12 482.95 Td (ended ) Tj ET Q q 0 0 0 rg BT 286.02 482.95 Td (September ) Tj ET Q q 0 0 0 rg BT 332.93 482.95 Td (30, ) Tj ET Q q 0 0 0 rg BT 348.32 482.95 Td (2016 ) Tj ET Q q 0 0 0 rg BT 371.22 482.95 Td (and ) Tj ET Q q 0 0 0 rg BT 389.11 482.95 Td (2015, ) Tj ET Q q 0 0 0 rg BT 414.51 482.95 Td (the ) Tj ET Q q 0 0 0 rg BT 429.90 482.95 Td (Company ) Tj ET Q q 0 0 0 rg BT 471.30 482.95 Td (used ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 493.69 482.95 Td ($24.1 ) Tj ET Q q 0 0 0 rg BT 519.10 482.95 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 544.60 482.95 Td ( ) Tj ET Q q 0 0 0 rg BT 547.48 482.95 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 469.45 Td ($121.6 ) Tj ET Q q 0 0 0 rg BT 102.17 469.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 127.67 469.45 Td ( ) Tj ET Q q 0 0 0 rg BT 130.32 469.45 Td (respectively ) Tj ET Q q 0 0 0 rg BT 180.47 469.45 Td (to ) Tj ET Q q 0 0 0 rg BT 190.62 469.45 Td (settle ) Tj ET Q q 0 0 0 rg BT 214.77 469.45 Td (the ) Tj ET Q q 0 0 0 rg BT 229.93 469.45 Td (cross-currency ) Tj ET Q q 0 0 0 rg BT 291.58 469.45 Td (swaps ) Tj ET Q q 0 0 0 rg BT 319.73 469.45 Td (related ) Tj ET Q q 0 0 0 rg BT 349.89 469.45 Td (to ) Tj ET Q q 0 0 0 rg BT 360.04 469.45 Td (the ) Tj ET Q q 0 0 0 rg BT 375.19 469.45 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 424.37 469.45 Td (long-term ) Tj ET Q q 0 0 0 rg BT 465.02 469.45 Td (debt ) Tj ET Q q 0 0 0 rg BT 485.18 469.45 Td (repaid ) Tj ET Q q 0 0 0 rg BT 512.84 469.45 Td (during ) Tj ET Q q 0 0 0 rg BT 540.50 469.45 Td (these ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 455.95 Td (periods. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 436.45 Td (For ) Tj ET Q q 0 0 0 rg BT 88.14 436.45 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.29 436.45 Td (year ) Tj ET Q q 0 0 0 rg BT 123.43 436.45 Td (ended ) Tj ET Q q 0 0 0 rg BT 151.09 436.45 Td (September ) Tj ET Q q 0 0 0 rg BT 197.76 436.45 Td (30, ) Tj ET Q q 0 0 0 rg BT 212.90 436.45 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 232.93 436.45 Td (, ) Tj ET Q q 0 0 0 rg BT 238.06 436.45 Td (an ) Tj ET Q q 0 0 0 rg BT 250.71 436.45 Td (amount ) Tj ET Q q 0 0 0 rg BT 283.37 436.45 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 293.51 436.45 Td ($21.8 ) Tj ET Q q 0 0 0 rg BT 318.67 436.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 344.18 436.45 Td ( ) Tj ET Q q 0 0 0 rg BT 346.81 436.45 Td (was ) Tj ET Q q 0 0 0 rg BT 365.46 436.45 Td (used ) Tj ET Q q 0 0 0 rg BT 387.61 436.45 Td (to ) Tj ET Q q 0 0 0 rg BT 397.75 436.45 Td (purchase ) Tj ET Q q 0 0 0 rg BT 437.41 436.45 Td (CGI ) Tj ET Q q 0 0 0 rg BT 456.05 436.45 Td (Class ) Tj ET Q q 0 0 0 rg BT 480.67 436.45 Td (A) Tj ET Q q 0 0 0 rg BT 486.17 436.45 Td ( ) Tj ET Q q 0 0 0 rg BT 488.81 436.45 Td (subordinate ) Tj ET Q q 0 0 0 rg BT 538.48 436.45 Td (voting ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 422.95 Td (shares ) Tj ET Q q 0 0 0 rg BT 101.91 422.95 Td (in ) Tj ET Q q 0 0 0 rg BT 111.80 422.95 Td (connection ) Tj ET Q q 0 0 0 rg BT 158.23 422.95 Td (with ) Tj ET Q q 0 0 0 rg BT 177.13 422.95 Td (the ) Tj ET Q q 0 0 0 rg BT 192.53 422.95 Td (Company's ) Tj ET Q q 0 0 0 rg BT 240.16 422.95 Td (Performance ) Tj ET Q q 0 0 0 rg BT 294.57 422.95 Td (Share ) Tj ET Q q 0 0 0 rg BT 321.48 422.95 Td (Unit ) Tj ET Q q 0 0 0 rg BT 340.38 422.95 Td (Plan ) Tj ET Q q 0 0 0 rg BT 361.28 422.95 Td (\("PSU ) Tj ET Q q 0 0 0 rg BT 388.87 422.95 Td (Plan"\), ) Tj ET Q q 0 0 0 rg BT 418.47 422.95 Td (while ) Tj ET Q q 0 0 0 rg BT 441.87 422.95 Td (for ) Tj ET Q q 0 0 0 rg BT 455.27 422.95 Td (the ) Tj ET Q q 0 0 0 rg BT 470.67 422.95 Td (comparable ) Tj ET Q q 0 0 0 rg BT 520.59 422.95 Td (period ) Tj ET Q q 0 0 0 rg BT 548.50 422.95 Td (last ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 409.45 Td (year) Tj ET Q q 0 0 0 rg BT 89.01 409.45 Td (, ) Tj ET Q q 0 0 0 rg BT 93.73 409.45 Td (an ) Tj ET Q q 0 0 0 rg BT 105.97 409.45 Td (amount ) Tj ET Q q 0 0 0 rg BT 138.21 409.45 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 147.94 409.45 Td ($1) Tj ET Q q 0 0 0 rg BT 157.28 409.45 Td (1.1 ) Tj ET Q q 0 0 0 rg BT 172.01 409.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 197.52 409.45 Td ( ) Tj ET Q q 0 0 0 rg BT 199.74 409.45 Td (was ) Tj ET Q q 0 0 0 rg BT 217.97 409.45 Td (used. ) Tj ET Q q 0 0 0 rg BT 242.21 409.45 Td (More ) Tj ET Q q 0 0 0 rg BT 264.93 409.45 Td (information ) Tj ET Q q 0 0 0 rg BT 311.68 409.45 Td (concerning ) Tj ET Q q 0 0 0 rg BT 357.93 409.45 Td (the ) Tj ET Q q 0 0 0 rg BT 372.66 409.45 Td (PSU ) Tj ET Q q 0 0 0 rg BT 393.39 409.45 Td (Plan ) Tj ET Q q 0 0 0 rg BT 413.62 409.45 Td (can ) Tj ET Q q 0 0 0 rg BT 430.36 409.45 Td (be ) Tj ET Q q 0 0 0 rg BT 442.59 409.45 Td (found ) Tj ET Q q 0 0 0 rg BT 467.33 409.45 Td (in ) Tj ET Q q 0 0 0 rg BT 476.56 409.45 Td (note ) Tj ET Q q 0 0 0 rg BT 496.30 409.45 Td (19 ) Tj ET Q q 0 0 0 rg BT 508.53 409.45 Td (of ) Tj ET Q q 0 0 0 rg BT 518.26 409.45 Td (the ) Tj ET Q q 0 0 0 rg BT 532.99 409.45 Td (audited ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 395.95 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 125.04 395.95 Td (financial ) Tj ET Q q 0 0 0 rg BT 160.56 395.95 Td (statements. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 376.45 Td (For ) Tj ET Q q 0 0 0 rg BT 87.76 376.45 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 102.53 376.45 Td (year ) Tj ET Q q 0 0 0 rg BT 122.30 376.45 Td (ended ) Tj ET Q q 0 0 0 rg BT 149.58 376.45 Td (September ) Tj ET Q q 0 0 0 rg BT 195.86 376.45 Td (30, ) Tj ET Q q 0 0 0 rg BT 210.63 376.45 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 230.66 376.45 Td (, ) Tj ET Q q 0 0 0 rg BT 235.42 376.45 Td (we ) Tj ET Q q 0 0 0 rg BT 249.18 376.45 Td (used ) Tj ET Q q 0 0 0 rg BT 270.95 376.45 Td ($517.8 ) Tj ET Q q 0 0 0 rg BT 300.74 376.45 Td (million ) Tj ET Q q 0 0 0 rg BT 328.50 376.45 Td (to ) Tj ET Q q 0 0 0 rg BT 338.27 376.45 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 385.55 376.45 Td (9,319,875 ) Tj ET Q q 0 0 0 rg BT 427.85 376.45 Td (Class ) Tj ET Q q 0 0 0 rg BT 452.17 376.45 Td (A) Tj ET Q q 0 0 0 rg BT 457.67 376.45 Td ( ) Tj ET Q q 0 0 0 rg BT 459.93 376.45 Td (subordinate ) Tj ET Q q 0 0 0 rg BT 509.22 376.45 Td (voting ) Tj ET Q q 0 0 0 rg BT 535.50 376.45 Td (shares ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 362.95 Td (under ) Tj ET Q q 0 0 0 rg BT 97.03 362.95 Td (the ) Tj ET Q q 0 0 0 rg BT 111.56 362.95 Td (previous ) Tj ET Q q 0 0 0 rg BT 147.59 362.95 Td (and ) Tj ET Q q 0 0 0 rg BT 164.62 362.95 Td (current ) Tj ET Q q 0 0 0 rg BT 194.65 362.95 Td (NCIB. ) Tj ET Q q 0 0 0 rg BT 220.67 362.95 Td (W) Tj ET Q q 0 0 0 rg BT 229.00 362.95 Td (e ) Tj ET Q q 0 0 0 rg BT 236.02 362.95 Td (also ) Tj ET Q q 0 0 0 rg BT 254.54 362.95 Td (used ) Tj ET Q q 0 0 0 rg BT 276.07 362.95 Td ($9.5 ) Tj ET Q q 0 0 0 rg BT 295.60 362.95 Td (million ) Tj ET Q q 0 0 0 rg BT 323.13 362.95 Td (to ) Tj ET Q q 0 0 0 rg BT 332.65 362.95 Td (pay ) Tj ET Q q 0 0 0 rg BT 349.17 362.95 Td (and ) Tj ET Q q 0 0 0 rg BT 366.20 362.95 Td (subsequently ) Tj ET Q q 0 0 0 rg BT 421.25 362.95 Td (cancel ) Tj ET Q q 0 0 0 rg BT 449.28 362.95 Td (200,000 ) Tj ET Q q 0 0 0 rg BT 483.83 362.95 Td (Class ) Tj ET Q q 0 0 0 rg BT 507.95 362.95 Td (A) Tj ET Q q 0 0 0 rg BT 513.46 362.95 Td ( ) Tj ET Q q 0 0 0 rg BT 515.47 362.95 Td (subordinate ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 349.45 Td (voting ) Tj ET Q q 0 0 0 rg BT 98.60 349.45 Td (shares ) Tj ET Q q 0 0 0 rg BT 128.19 349.45 Td (repurchased ) Tj ET Q q 0 0 0 rg BT 180.80 349.45 Td (and ) Tj ET Q q 0 0 0 rg BT 198.40 349.45 Td (held ) Tj ET Q q 0 0 0 rg BT 218.00 349.45 Td (by ) Tj ET Q q 0 0 0 rg BT 230.08 349.45 Td (the ) Tj ET Q q 0 0 0 rg BT 245.18 349.45 Td (Company ) Tj ET Q q 0 0 0 rg BT 286.28 349.45 Td (as ) Tj ET Q q 0 0 0 rg BT 298.36 349.45 Td (at ) Tj ET Q q 0 0 0 rg BT 308.45 349.45 Td (the ) Tj ET Q q 0 0 0 rg BT 323.54 349.45 Td (end ) Tj ET Q q 0 0 0 rg BT 341.14 349.45 Td (of ) Tj ET Q q 0 0 0 rg BT 351.23 349.45 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 374.31 349.45 Td (2015. ) Tj ET Q q 0 0 0 rg BT 399.41 349.45 Td (For ) Tj ET Q q 0 0 0 rg BT 415.50 349.45 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 430.59 349.45 Td (year ) Tj ET Q q 0 0 0 rg BT 450.68 349.45 Td (ended ) Tj ET Q q 0 0 0 rg BT 478.28 349.45 Td (September ) Tj ET Q q 0 0 0 rg BT 524.89 349.45 Td (30, ) Tj ET Q q 0 0 0 rg BT 539.98 349.45 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 560.00 349.45 Td (, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 335.95 Td ($323.1 ) Tj ET Q q 0 0 0 rg BT 102.01 335.95 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 127.52 335.95 Td ( ) Tj ET Q q 0 0 0 rg BT 130.00 335.95 Td (was ) Tj ET Q q 0 0 0 rg BT 148.49 335.95 Td (used ) Tj ET Q q 0 0 0 rg BT 170.49 335.95 Td (to ) Tj ET Q q 0 0 0 rg BT 180.48 335.95 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 227.99 335.95 Td (6,725,735 ) Tj ET Q q 0 0 0 rg BT 270.51 335.95 Td (Class ) Tj ET Q q 0 0 0 rg BT 295.00 335.95 Td (A) Tj ET Q q 0 0 0 rg BT 300.51 335.95 Td ( ) Tj ET Q q 0 0 0 rg BT 302.99 335.95 Td (subordinate ) Tj ET Q q 0 0 0 rg BT 352.51 335.95 Td (voting ) Tj ET Q q 0 0 0 rg BT 379.01 335.95 Td (shares ) Tj ET Q q 0 0 0 rg BT 408.51 335.95 Td (under ) Tj ET Q q 0 0 0 rg BT 434.01 335.95 Td (the ) Tj ET Q q 0 0 0 rg BT 449.00 335.95 Td (annual ) Tj ET Q q 0 0 0 rg BT 478.51 335.95 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 521.53 335.95 Td (limit ) Tj ET Q q 0 0 0 rg BT 540.01 335.95 Td (of ) Tj ET Q q 0 0 0 rg BT 550.00 335.95 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 322.45 Td (NCIB ) Tj ET Q q 0 0 0 rg BT 96.00 322.45 Td (then ) Tj ET Q q 0 0 0 rg BT 116.02 322.45 Td (in ) Tj ET Q q 0 0 0 rg BT 125.53 322.45 Td (ef) Tj ET Q q 0 0 0 rg BT 132.87 322.45 Td (fect. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 302.95 Td (Finally) Tj ET Q q 0 0 0 rg BT 97.34 302.95 Td (, ) Tj ET Q q 0 0 0 rg BT 102.81 302.95 Td (for ) Tj ET Q q 0 0 0 rg BT 116.28 302.95 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 131.76 302.95 Td (year ) Tj ET Q q 0 0 0 rg BT 152.24 302.95 Td (ended ) Tj ET Q q 0 0 0 rg BT 180.23 302.95 Td (September ) Tj ET Q q 0 0 0 rg BT 227.23 302.95 Td (30, ) Tj ET Q q 0 0 0 rg BT 242.71 302.95 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 262.73 302.95 Td (, ) Tj ET Q q 0 0 0 rg BT 268.20 302.95 Td (we ) Tj ET Q q 0 0 0 rg BT 282.67 302.95 Td (received ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 319.66 302.95 Td ($89.5 ) Tj ET Q q 0 0 0 rg BT 345.15 302.95 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 370.66 302.95 Td ( ) Tj ET Q q 0 0 0 rg BT 373.63 302.95 Td (in ) Tj ET Q q 0 0 0 rg BT 383.60 302.95 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 423.59 302.95 Td (from ) Tj ET Q q 0 0 0 rg BT 444.56 302.95 Td (the ) Tj ET Q q 0 0 0 rg BT 460.04 302.95 Td (exercise ) Tj ET Q q 0 0 0 rg BT 496.53 302.95 Td (of ) Tj ET Q q 0 0 0 rg BT 507.00 302.95 Td (stock ) Tj ET Q q 0 0 0 rg BT 530.98 302.95 Td (options, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 289.45 Td (compared ) Tj ET Q q 0 0 0 rg BT 114.52 289.45 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 124.53 289.45 Td ($53.7 ) Tj ET Q q 0 0 0 rg BT 149.55 289.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 175.06 289.45 Td ( ) Tj ET Q q 0 0 0 rg BT 177.56 289.45 Td (during ) Tj ET Q q 0 0 0 rg BT 205.08 289.45 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 220.09 289.45 Td (year ) Tj ET Q q 0 0 0 rg BT 240.10 289.45 Td (ended ) Tj ET Q q 0 0 0 rg BT 267.62 289.45 Td (September ) Tj ET Q q 0 0 0 rg BT 314.15 289.45 Td (30, ) Tj ET Q q 0 0 0 rg BT 329.16 289.45 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 349.18 289.45 Td (.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 263.65 Td (4.1.4. ) Tj ET Q q 0 0 0 rg BT 98.52 263.65 Td (Effect ) Tj ET Q q 0 0 0 rg BT 126.02 263.65 Td (of ) Tj ET Q q 0 0 0 rg BT 137.02 263.65 Td (Foreign ) Tj ET Q q 0 0 0 rg BT 172.52 263.65 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 217.54 263.65 Td (Rate ) Tj ET Q q 0 0 0 rg BT 239.54 263.65 Td (Changes ) Tj ET Q q 0 0 0 rg BT 280.05 263.65 Td (on ) Tj ET Q q 0 0 0 rg BT 293.55 263.65 Td (Cash ) Tj ET Q q 0 0 0 rg BT 318.06 263.65 Td (and ) Tj ET Q q 0 0 0 rg BT 336.56 263.65 Td (Cash ) Tj ET Q q 0 0 0 rg BT 361.06 263.65 Td (Equivalents) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 247.15 Td (For ) Tj ET Q q 0 0 0 rg BT 87.17 247.15 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 101.85 247.15 Td (year ) Tj ET Q q 0 0 0 rg BT 121.52 247.15 Td (ended ) Tj ET Q q 0 0 0 rg BT 148.71 247.15 Td (September ) Tj ET Q q 0 0 0 rg BT 194.91 247.15 Td (30, ) Tj ET Q q 0 0 0 rg BT 209.58 247.15 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 229.60 247.15 Td (, ) Tj ET Q q 0 0 0 rg BT 234.27 247.15 Td (the ) Tj ET Q q 0 0 0 rg BT 248.95 247.15 Td (ef) Tj ET Q q 0 0 0 rg BT 256.29 247.15 Td (fect ) Tj ET Q q 0 0 0 rg BT 272.97 247.15 Td (of ) Tj ET Q q 0 0 0 rg BT 282.64 247.15 Td (foreign ) Tj ET Q q 0 0 0 rg BT 312.33 247.15 Td (exchange ) Tj ET Q q 0 0 0 rg BT 353.52 247.15 Td (rate ) Tj ET Q q 0 0 0 rg BT 371.20 247.15 Td (changes ) Tj ET Q q 0 0 0 rg BT 407.39 247.15 Td (on ) Tj ET Q q 0 0 0 rg BT 419.57 247.15 Td (cash ) Tj ET Q q 0 0 0 rg BT 440.75 247.15 Td (and ) Tj ET Q q 0 0 0 rg BT 457.93 247.15 Td (cash ) Tj ET Q q 0 0 0 rg BT 479.11 247.15 Td (equivalents ) Tj ET Q q 0 0 0 rg BT 526.81 247.15 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 544.98 247.15 Td ($7.2 ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 233.65 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 97.01 233.65 Td (. ) Tj ET Q q 0 0 0 rg BT 101.84 233.65 Td (This ) Tj ET Q q 0 0 0 rg BT 121.35 233.65 Td (amount ) Tj ET Q q 0 0 0 rg BT 153.87 233.65 Td (had ) Tj ET Q q 0 0 0 rg BT 171.38 233.65 Td (no ) Tj ET Q q 0 0 0 rg BT 183.89 233.65 Td (ef) Tj ET Q q 0 0 0 rg BT 191.24 233.65 Td (fect ) Tj ET Q q 0 0 0 rg BT 208.24 233.65 Td (on ) Tj ET Q q 0 0 0 rg BT 220.76 233.65 Td (net ) Tj ET Q q 0 0 0 rg BT 235.77 233.65 Td (earnings ) Tj ET Q q 0 0 0 rg BT 272.79 233.65 Td (as ) Tj ET Q q 0 0 0 rg BT 284.80 233.65 Td (it ) Tj ET Q q 0 0 0 rg BT 291.80 233.65 Td (was ) Tj ET Q q 0 0 0 rg BT 310.30 233.65 Td (recorded ) Tj ET Q q 0 0 0 rg BT 348.32 233.65 Td (in ) Tj ET Q q 0 0 0 rg BT 357.83 233.65 Td (other ) Tj ET Q q 0 0 0 rg BT 380.84 233.65 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 444.38 233.65 Td (income.) Tj ET Q endstream endobj 55 0 obj <> endobj 56 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (26) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (4.2. CAPIT) Tj ET Q q 0 0 0 rg BT 117.34 708.95 Td (AL) Tj ET Q q 0 0 0 rg BT 129.18 708.95 Td ( RESOURCES) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 188.69 708.95 Td () Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 72.50 698.45 229.00 -19.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 301.50 698.45 87.00 -19.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 388.50 698.45 87.00 -19.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 475.50 698.45 87.00 -19.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 301.50 679.45 87.00 -12.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 301.50 667.45 87.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 301.50 654.45 87.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 301.50 641.45 87.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 628.45 229.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 301.50 628.45 87.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 388.50 628.45 87.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 475.50 628.45 87.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 698.45 m 301.5 698.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 301.5 698.45 m 388.5 698.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 388.5 698.45 m 475.5 698.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 698.45 m 562.5 698.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 615.45 m 301.5 615.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 301.5 615.45 m 388.5 615.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 388.5 615.45 m 475.5 615.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 615.45 m 562.5 615.45 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 75.00 683.68 Td (As at September 30, 2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 360.45 683.68 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 431.15 683.68 Td (Available) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 505.85 683.68 Td (Outstanding) Tj ET Q BT /F4 7.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 75.00 671.40 Td (In thousands of CAD) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 658.68 Td (Cash and cash equivalents) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 371.25 658.68 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 437.30 658.68 Td (596,529) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 545.30 658.73 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 645.68 Td (Long-term investments) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 371.25 645.68 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 441.80 645.73 Td (27,246) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 545.30 645.73 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 632.68 Td (Unsecured committed revolving facility ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 213.72 636.49 Td (a) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 343.70 632.73 Td (1,500,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 430.70 632.73 Td (1,466,086) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 528.80 632.73 Td (33,914) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 619.68 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 343.70 619.73 Td (1,500,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 430.70 619.73 Td (2,089,861) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 528.80 619.73 Td (33,914) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 72.00 604.89 Td (a) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 74.53 601.55 Td ( Consists of Letters of Credit for $33.9 million outstanding as at ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 271.41 601.55 Td (September30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 334.84 601.55 Td (.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 582.05 Td (Our ) Tj ET Q q 0 0 0 rg BT 88.28 582.05 Td (cash ) Tj ET Q q 0 0 0 rg BT 108.57 582.05 Td (position ) Tj ET Q q 0 0 0 rg BT 140.87 582.05 Td (and ) Tj ET Q q 0 0 0 rg BT 157.17 582.05 Td (bank ) Tj ET Q q 0 0 0 rg BT 177.97 582.05 Td (lines ) Tj ET Q q 0 0 0 rg BT 197.76 582.05 Td (are ) Tj ET Q q 0 0 0 rg BT 212.04 582.05 Td (suf) Tj ET Q q 0 0 0 rg BT 223.89 582.05 Td (ficient ) Tj ET Q q 0 0 0 rg BT 248.68 582.05 Td (to ) Tj ET Q q 0 0 0 rg BT 257.46 582.05 Td (support ) Tj ET Q q 0 0 0 rg BT 288.76 582.05 Td (our ) Tj ET Q q 0 0 0 rg BT 303.05 582.05 Td (growth ) Tj ET Q q 0 0 0 rg BT 331.34 582.05 Td (strategy) Tj ET Q q 0 0 0 rg BT 362.69 582.05 Td (. ) Tj ET Q q 0 0 0 rg BT 366.21 582.05 Td (At ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 376.00 582.05 Td (September30, ) Tj ET Q q 0 0 0 rg BT 436.31 582.05 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 456.33 582.05 Td (, ) Tj ET Q q 0 0 0 rg BT 460.11 582.05 Td (cash ) Tj ET Q q 0 0 0 rg BT 480.41 582.05 Td (and ) Tj ET Q q 0 0 0 rg BT 496.70 582.05 Td (cash ) Tj ET Q q 0 0 0 rg BT 516.99 582.05 Td (equivalents ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 568.55 Td (and ) Tj ET Q q 0 0 0 rg BT 89.52 568.55 Td (long-term ) Tj ET Q q 0 0 0 rg BT 130.03 568.55 Td (investments ) Tj ET Q q 0 0 0 rg BT 180.55 568.55 Td (represented ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 231.08 568.55 Td ($623.8 ) Tj ET Q q 0 0 0 rg BT 261.11 568.55 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 286.62 568.55 Td (.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 549.05 Td (Cash ) Tj ET Q q 0 0 0 rg BT 94.59 549.05 Td (equivalents ) Tj ET Q q 0 0 0 rg BT 141.69 549.05 Td (typically ) Tj ET Q q 0 0 0 rg BT 175.28 549.05 Td (include ) Tj ET Q q 0 0 0 rg BT 205.37 549.05 Td (term ) Tj ET Q q 0 0 0 rg BT 224.95 549.05 Td (deposits, ) Tj ET Q q 0 0 0 rg BT 262.55 549.05 Td (all ) Tj ET Q q 0 0 0 rg BT 273.13 549.05 Td (with ) Tj ET Q q 0 0 0 rg BT 290.71 549.05 Td (maturities ) Tj ET Q q 0 0 0 rg BT 331.29 549.05 Td (of ) Tj ET Q q 0 0 0 rg BT 340.37 549.05 Td (90 ) Tj ET Q q 0 0 0 rg BT 351.96 549.05 Td (days ) Tj ET Q q 0 0 0 rg BT 372.54 549.05 Td (or ) Tj ET Q q 0 0 0 rg BT 382.12 549.05 Td (less. ) Tj ET Q q 0 0 0 rg BT 402.20 549.05 Td (Long-term ) Tj ET Q q 0 0 0 rg BT 444.80 549.05 Td (investments ) Tj ET Q q 0 0 0 rg BT 494.39 549.05 Td (include ) Tj ET Q q 0 0 0 rg BT 524.49 549.05 Td (corporate ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 535.55 Td (and ) Tj ET Q q 0 0 0 rg BT 89.52 535.55 Td (government ) Tj ET Q q 0 0 0 rg BT 139.54 535.55 Td (bonds ) Tj ET Q q 0 0 0 rg BT 166.57 535.55 Td (with ) Tj ET Q q 0 0 0 rg BT 185.07 535.55 Td (maturities ) Tj ET Q q 0 0 0 rg BT 226.58 535.55 Td (ranging ) Tj ET Q q 0 0 0 rg BT 259.11 535.55 Td (from ) Tj ET Q q 0 0 0 rg BT 279.61 535.55 Td (one ) Tj ET Q q 0 0 0 rg BT 297.12 535.55 Td (to ) Tj ET Q q 0 0 0 rg BT 307.13 535.55 Td (five ) Tj ET Q q 0 0 0 rg BT 323.64 535.55 Td (years, ) Tj ET Q q 0 0 0 rg BT 350.64 535.55 Td (rated ) Tj ET Q q 0 0 0 rg BT 373.66 535.55 Td ("A" ) Tj ET Q q 0 0 0 rg BT 388.55 535.55 Td (or ) Tj ET Q q 0 0 0 rg BT 399.05 535.55 Td (higher) Tj ET Q q 0 0 0 rg BT 423.58 535.55 Td (.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 516.05 Td (The ) Tj ET Q q 0 0 0 rg BT 89.74 516.05 Td (amount ) Tj ET Q q 0 0 0 rg BT 121.98 516.05 Td (of ) Tj ET Q q 0 0 0 rg BT 131.72 516.05 Td (capital ) Tj ET Q q 0 0 0 rg BT 159.96 516.05 Td (available ) Tj ET Q q 0 0 0 rg BT 197.71 516.05 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 215.95 516.05 Td ($2,089.9 ) Tj ET Q q 0 0 0 rg BT 253.21 516.05 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 278.71 516.05 Td (. ) Tj ET Q q 0 0 0 rg BT 283.30 516.05 Td (The ) Tj ET Q q 0 0 0 rg BT 301.03 516.05 Td (long-term ) Tj ET Q q 0 0 0 rg BT 341.28 516.05 Td (debt ) Tj ET Q q 0 0 0 rg BT 361.02 516.05 Td (agreements ) Tj ET Q q 0 0 0 rg BT 410.77 516.05 Td (contain ) Tj ET Q q 0 0 0 rg BT 442.02 516.05 Td (covenants, ) Tj ET Q q 0 0 0 rg BT 487.78 516.05 Td (which ) Tj ET Q q 0 0 0 rg BT 513.02 516.05 Td (require ) Tj ET Q q 0 0 0 rg BT 543.26 516.05 Td (us ) Tj ET Q q 0 0 0 rg BT 554.99 516.05 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 502.55 Td (maintain ) Tj ET Q q 0 0 0 rg BT 108.52 502.55 Td (certain ) Tj ET Q q 0 0 0 rg BT 138.03 502.55 Td (financial ) Tj ET Q q 0 0 0 rg BT 173.55 502.55 Td (ratios. ) Tj ET Q q 0 0 0 rg BT 200.07 502.55 Td (As ) Tj ET Q q 0 0 0 rg BT 213.07 502.55 Td (at ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 223.08 502.55 Td (September30, ) Tj ET Q q 0 0 0 rg BT 284.61 502.55 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 304.63 502.55 Td (, ) Tj ET Q q 0 0 0 rg BT 309.63 502.55 Td (CGI ) Tj ET Q q 0 0 0 rg BT 328.14 502.55 Td (was ) Tj ET Q q 0 0 0 rg BT 346.64 502.55 Td (in ) Tj ET Q q 0 0 0 rg BT 356.15 502.55 Td (compliance ) Tj ET Q q 0 0 0 rg BT 404.17 502.55 Td (with ) Tj ET Q q 0 0 0 rg BT 422.67 502.55 Td (these ) Tj ET Q q 0 0 0 rg BT 447.19 502.55 Td (covenants.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 483.05 Td (T) Tj ET Q q 0 0 0 rg BT 76.50 483.05 Td (otal ) Tj ET Q q 0 0 0 rg BT 94.25 483.05 Td (debt ) Tj ET Q q 0 0 0 rg BT 115.02 483.05 Td (decreased ) Tj ET Q q 0 0 0 rg BT 160.29 483.05 Td (by ) Tj ET Q q 0 0 0 rg BT 173.04 483.05 Td ($216.1 ) Tj ET Q q 0 0 0 rg BT 203.81 483.05 Td (million ) Tj ET Q q 0 0 0 rg BT 232.56 483.05 Td (to ) Tj ET Q q 0 0 0 rg BT 243.31 483.05 Td ($1,91) Tj ET Q q 0 0 0 rg BT 265.16 483.05 Td (1.0 ) Tj ET Q q 0 0 0 rg BT 280.92 483.05 Td (million ) Tj ET Q q 0 0 0 rg BT 309.67 483.05 Td (as ) Tj ET Q q 0 0 0 rg BT 322.42 483.05 Td (at ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 333.17 483.05 Td (September30, ) Tj ET Q q 0 0 0 rg BT 395.45 483.05 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 415.47 483.05 Td (, ) Tj ET Q q 0 0 0 rg BT 421.22 483.05 Td (compared ) Tj ET Q q 0 0 0 rg BT 464.48 483.05 Td (to ) Tj ET Q q 0 0 0 rg BT 475.23 483.05 Td ($2,127.1 ) Tj ET Q q 0 0 0 rg BT 513.51 483.05 Td (million ) Tj ET Q q 0 0 0 rg BT 542.26 483.05 Td (as ) Tj ET Q q 0 0 0 rg BT 555.01 483.05 Td (at ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 469.55 Td (September ) Tj ET Q q 0 0 0 rg BT 118.05 469.55 Td (30, ) Tj ET Q q 0 0 0 rg BT 132.58 469.55 Td (2015. ) Tj ET Q q 0 0 0 rg BT 156.99 469.55 Td (The ) Tj ET Q q 0 0 0 rg BT 174.52 469.55 Td (variation ) Tj ET Q q 0 0 0 rg BT 210.56 469.55 Td (was ) Tj ET Q q 0 0 0 rg BT 228.59 469.55 Td (mainly ) Tj ET Q q 0 0 0 rg BT 256.62 469.55 Td (due ) Tj ET Q q 0 0 0 rg BT 273.66 469.55 Td (to ) Tj ET Q q 0 0 0 rg BT 283.18 469.55 Td (the ) Tj ET Q q 0 0 0 rg BT 297.72 469.55 Td ($129.7 ) Tj ET Q q 0 0 0 rg BT 327.27 469.55 Td (million ) Tj ET Q q 0 0 0 rg BT 354.79 469.55 Td (repayment ) Tj ET Q q 0 0 0 rg BT 399.34 469.55 Td (under ) Tj ET Q q 0 0 0 rg BT 424.38 469.55 Td (the ) Tj ET Q q 0 0 0 rg BT 438.91 469.55 Td (unsecured ) Tj ET Q q 0 0 0 rg BT 482.96 469.55 Td (committed ) Tj ET Q q 0 0 0 rg BT 526.50 469.55 Td (revolving ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 456.05 Td (credit ) Tj ET Q q 0 0 0 rg BT 96.51 456.05 Td (facility ) Tj ET Q q 0 0 0 rg BT 124.01 456.05 Td (combined ) Tj ET Q q 0 0 0 rg BT 165.54 456.05 Td (with ) Tj ET Q q 0 0 0 rg BT 184.04 456.05 Td (other ) Tj ET Q q 0 0 0 rg BT 207.06 456.05 Td (repayments.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 436.55 Td (As ) Tj ET Q q 0 0 0 rg BT 85.10 436.55 Td (at ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 95.19 436.55 Td (September30, ) Tj ET Q q 0 0 0 rg BT 156.82 436.55 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 176.84 436.55 Td (, ) Tj ET Q q 0 0 0 rg BT 181.94 436.55 Td (CGI ) Tj ET Q q 0 0 0 rg BT 200.53 436.55 Td (was ) Tj ET Q q 0 0 0 rg BT 219.13 436.55 Td (showing ) Tj ET Q q 0 0 0 rg BT 254.74 436.55 Td (a ) Tj ET Q q 0 0 0 rg BT 262.34 436.55 Td (positive ) Tj ET Q q 0 0 0 rg BT 295.44 436.55 Td (working ) Tj ET Q q 0 0 0 rg BT 329.05 436.55 Td (capital) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 355.06 440.84 Td (1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 358.32 436.55 Td ( ) Tj ET Q q 0 0 0 rg BT 360.91 436.55 Td (of ) Tj ET Q q 0 0 0 rg BT 371.01 436.55 Td ($425.0 ) Tj ET Q q 0 0 0 rg BT 401.13 436.55 Td (million. ) Tj ET Q q 0 0 0 rg BT 431.56 436.55 Td (The ) Tj ET Q q 0 0 0 rg BT 449.66 436.55 Td (Company ) Tj ET Q q 0 0 0 rg BT 490.77 436.55 Td (also ) Tj ET Q q 0 0 0 rg BT 509.87 436.55 Td (had ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.48 436.55 Td ($1,466.1 ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 423.05 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 97.51 423.05 Td ( ) Tj ET Q q 0 0 0 rg BT 99.94 423.05 Td (available ) Tj ET Q q 0 0 0 rg BT 137.90 423.05 Td (under ) Tj ET Q q 0 0 0 rg BT 163.36 423.05 Td (its ) Tj ET Q q 0 0 0 rg BT 174.79 423.05 Td (unsecured ) Tj ET Q q 0 0 0 rg BT 219.26 423.05 Td (committed ) Tj ET Q q 0 0 0 rg BT 263.20 423.05 Td (revolving ) Tj ET Q q 0 0 0 rg BT 301.66 423.05 Td (facility ) Tj ET Q q 0 0 0 rg BT 329.10 423.05 Td (and ) Tj ET Q q 0 0 0 rg BT 346.55 423.05 Td (is ) Tj ET Q q 0 0 0 rg BT 355.48 423.05 Td (generating ) Tj ET Q q 0 0 0 rg BT 400.45 423.05 Td (a ) Tj ET Q q 0 0 0 rg BT 407.89 423.05 Td (significant ) Tj ET Q q 0 0 0 rg BT 450.35 423.05 Td (level ) Tj ET Q q 0 0 0 rg BT 471.30 423.05 Td (of ) Tj ET Q q 0 0 0 rg BT 481.24 423.05 Td (cash ) Tj ET Q q 0 0 0 rg BT 502.68 423.05 Td (that ) Tj ET Q q 0 0 0 rg BT 520.13 423.05 Td (will ) Tj ET Q q 0 0 0 rg BT 535.06 423.05 Td (allow ) Tj ET Q q 0 0 0 rg BT 558.01 423.05 Td (it ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 409.55 Td (to ) Tj ET Q q 0 0 0 rg BT 81.31 409.55 Td (fund ) Tj ET Q q 0 0 0 rg BT 100.62 409.55 Td (its ) Tj ET Q q 0 0 0 rg BT 111.42 409.55 Td (operations ) Tj ET Q q 0 0 0 rg BT 155.25 409.55 Td (while ) Tj ET Q q 0 0 0 rg BT 177.56 409.55 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 225.39 409.55 Td (adequate ) Tj ET Q q 0 0 0 rg BT 264.73 409.55 Td (levels ) Tj ET Q q 0 0 0 rg BT 289.54 409.55 Td (of ) Tj ET Q q 0 0 0 rg BT 298.84 409.55 Td (liquidity) Tj ET Q q 0 0 0 rg BT 328.19 409.55 Td (. ) Tj ET Q q 0 0 0 rg BT 332.49 409.55 Td ( ) Tj ET Q q 0 0 0 rg BT 334.29 409.55 Td (On ) Tj ET Q q 0 0 0 rg BT 348.09 409.55 Td (November ) Tj ET Q q 0 0 0 rg BT 391.41 409.55 Td (8, ) Tj ET Q q 0 0 0 rg BT 400.71 409.55 Td (2016, ) Tj ET Q q 0 0 0 rg BT 425.04 409.55 Td (the ) Tj ET Q q 0 0 0 rg BT 439.35 409.55 Td (unsecured ) Tj ET Q q 0 0 0 rg BT 483.18 409.55 Td (committed ) Tj ET Q q 0 0 0 rg BT 526.49 409.55 Td (revolving ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 396.05 Td (facility ) Tj ET Q q 0 0 0 rg BT 99.60 396.05 Td (was ) Tj ET Q q 0 0 0 rg BT 118.19 396.05 Td (extended ) Tj ET Q q 0 0 0 rg BT 157.81 396.05 Td (by ) Tj ET Q q 0 0 0 rg BT 169.91 396.05 Td (two ) Tj ET Q q 0 0 0 rg BT 186.51 396.05 Td (years ) Tj ET Q q 0 0 0 rg BT 211.11 396.05 Td (to ) Tj ET Q q 0 0 0 rg BT 221.20 396.05 Td (December ) Tj ET Q q 0 0 0 rg BT 265.31 396.05 Td (2021 ) Tj ET Q q 0 0 0 rg BT 287.92 396.05 Td (and ) Tj ET Q q 0 0 0 rg BT 305.53 396.05 Td (can ) Tj ET Q q 0 0 0 rg BT 322.63 396.05 Td (be ) Tj ET Q q 0 0 0 rg BT 335.23 396.05 Td (further ) Tj ET Q q 0 0 0 rg BT 363.83 396.05 Td (extended. ) Tj ET Q q 0 0 0 rg BT 405.96 396.05 Td ( ) Tj ET Q q 0 0 0 rg BT 408.38 396.05 Td (There ) Tj ET Q q 0 0 0 rg BT 434.48 396.05 Td (were ) Tj ET Q q 0 0 0 rg BT 456.58 396.05 Td (no ) Tj ET Q q 0 0 0 rg BT 469.18 396.05 Td (material ) Tj ET Q q 0 0 0 rg BT 503.78 396.05 Td (changes ) Tj ET Q q 0 0 0 rg BT 540.40 396.05 Td (in ) Tj ET Q q 0 0 0 rg BT 549.99 396.05 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 382.55 Td (terms ) Tj ET Q q 0 0 0 rg BT 97.00 382.55 Td (and ) Tj ET Q q 0 0 0 rg BT 114.52 382.55 Td (conditions ) Tj ET Q q 0 0 0 rg BT 157.54 382.55 Td (including ) Tj ET Q q 0 0 0 rg BT 195.57 382.55 Td (interest ) Tj ET Q q 0 0 0 rg BT 227.58 382.55 Td (rates ) Tj ET Q q 0 0 0 rg BT 250.09 382.55 Td (and ) Tj ET Q q 0 0 0 rg BT 267.61 382.55 Td (banking ) Tj ET Q q 0 0 0 rg BT 301.64 382.55 Td (covenants.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 363.05 Td (As ) Tj ET Q q 0 0 0 rg BT 84.75 363.05 Td (at ) Tj ET Q q 0 0 0 rg BT 94.51 363.05 Td (September ) Tj ET Q q 0 0 0 rg BT 140.78 363.05 Td (30, ) Tj ET Q q 0 0 0 rg BT 155.54 363.05 Td (2016, ) Tj ET Q q 0 0 0 rg BT 180.31 363.05 Td (the ) Tj ET Q q 0 0 0 rg BT 195.07 363.05 Td (cash ) Tj ET Q q 0 0 0 rg BT 216.33 363.05 Td (and ) Tj ET Q q 0 0 0 rg BT 233.60 363.05 Td (cash ) Tj ET Q q 0 0 0 rg BT 254.86 363.05 Td (equivalents ) Tj ET Q q 0 0 0 rg BT 302.64 363.05 Td (held ) Tj ET Q q 0 0 0 rg BT 321.90 363.05 Td (by ) Tj ET Q q 0 0 0 rg BT 333.66 363.05 Td (foreign ) Tj ET Q q 0 0 0 rg BT 363.42 363.05 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 413.20 363.05 Td (were ) Tj ET Q q 0 0 0 rg BT 434.95 363.05 Td ($557.8 ) Tj ET Q q 0 0 0 rg BT 464.73 363.05 Td (million ) Tj ET Q q 0 0 0 rg BT 492.48 363.05 Td (\($263.6 ) Tj ET Q q 0 0 0 rg BT 525.26 363.05 Td (million ) Tj ET Q q 0 0 0 rg BT 553.01 363.05 Td (as ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 349.55 Td (at ) Tj ET Q q 0 0 0 rg BT 82.47 349.55 Td (September ) Tj ET Q q 0 0 0 rg BT 129.46 349.55 Td (30, ) Tj ET Q q 0 0 0 rg BT 144.94 349.55 Td (2015\). ) Tj ET Q q 0 0 0 rg BT 173.23 349.55 Td (The ) Tj ET Q q 0 0 0 rg BT 191.71 349.55 Td (tax ) Tj ET Q q 0 0 0 rg BT 206.68 349.55 Td (implications ) Tj ET Q q 0 0 0 rg BT 256.67 349.55 Td (and ) Tj ET Q q 0 0 0 rg BT 274.65 349.55 Td (impact ) Tj ET Q q 0 0 0 rg BT 304.12 349.55 Td (related ) Tj ET Q q 0 0 0 rg BT 334.61 349.55 Td (to ) Tj ET Q q 0 0 0 rg BT 345.08 349.55 Td (its ) Tj ET Q q 0 0 0 rg BT 357.05 349.55 Td (repatriation ) Tj ET Q q 0 0 0 rg BT 405.04 349.55 Td (will ) Tj ET Q q 0 0 0 rg BT 420.51 349.55 Td (not ) Tj ET Q q 0 0 0 rg BT 435.98 349.55 Td (materially ) Tj ET Q q 0 0 0 rg BT 477.46 349.55 Td (af) Tj ET Q q 0 0 0 rg BT 484.80 349.55 Td (fect ) Tj ET Q q 0 0 0 rg BT 502.28 349.55 Td (the ) Tj ET Q q 0 0 0 rg BT 517.76 349.55 Td (Company's ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 336.05 Td (liquidity) Tj ET Q q 0 0 0 rg BT 101.35 336.05 Td (. ) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 72.00 303.09 Td (1) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 74.53 299.75 Td ( ) Tj ET Q q 0 0 0 rg BT 94.50 299.75 Td (W) Tj ET Q q 0 0 0 rg BT 100.98 299.75 Td (orking ) Tj ET Q q 0 0 0 rg BT 121.99 299.75 Td (capital ) Tj ET Q q 0 0 0 rg BT 144.17 299.75 Td (is ) Tj ET Q q 0 0 0 rg BT 151.17 299.75 Td (defined ) Tj ET Q q 0 0 0 rg BT 176.08 299.75 Td (as ) Tj ET Q q 0 0 0 rg BT 185.42 299.75 Td (total ) Tj ET Q q 0 0 0 rg BT 200.59 299.75 Td (current ) Tj ET Q q 0 0 0 rg BT 224.32 299.75 Td (assets ) Tj ET Q q 0 0 0 rg BT 246.50 299.75 Td (minus ) Tj ET Q q 0 0 0 rg BT 267.12 299.75 Td (total ) Tj ET Q q 0 0 0 rg BT 282.29 299.75 Td (current ) Tj ET Q q 0 0 0 rg BT 306.02 299.75 Td (liabilities.) Tj ET Q endstream endobj 57 0 obj <> endobj 58 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (27) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (4.3. ) Tj ET Q q 0 0 0 rg BT 91.01 708.95 Td (CONTRACTUAL) Tj ET Q q 0 0 0 rg BT 159.84 708.95 Td ( ) Tj ET Q q 0 0 0 rg BT 162.34 708.95 Td (OBLIGA) Tj ET Q q 0 0 0 rg BT 196.67 708.95 Td (TIONS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 692.45 Td (W) Tj ET Q q 0 0 0 rg BT 80.33 692.45 Td (e ) Tj ET Q q 0 0 0 rg BT 88.00 692.45 Td (are ) Tj ET Q q 0 0 0 rg BT 103.67 692.45 Td (committed ) Tj ET Q q 0 0 0 rg BT 147.85 692.45 Td (under ) Tj ET Q q 0 0 0 rg BT 173.53 692.45 Td (the ) Tj ET Q q 0 0 0 rg BT 188.71 692.45 Td (terms ) Tj ET Q q 0 0 0 rg BT 213.87 692.45 Td (of ) Tj ET Q q 0 0 0 rg BT 224.04 692.45 Td (contractual ) Tj ET Q q 0 0 0 rg BT 270.73 692.45 Td (obligations ) Tj ET Q q 0 0 0 rg BT 316.42 692.45 Td (which ) Tj ET Q q 0 0 0 rg BT 342.10 692.45 Td (have ) Tj ET Q q 0 0 0 rg BT 364.28 692.45 Td (various ) Tj ET Q q 0 0 0 rg BT 395.95 692.45 Td (expiration ) Tj ET Q q 0 0 0 rg BT 437.64 692.45 Td (dates, ) Tj ET Q q 0 0 0 rg BT 464.82 692.45 Td (primarily ) Tj ET Q q 0 0 0 rg BT 501.49 692.45 Td (for ) Tj ET Q q 0 0 0 rg BT 514.65 692.45 Td (the ) Tj ET Q q 0 0 0 rg BT 529.83 692.45 Td (rental ) Tj ET Q q 0 0 0 rg BT 555.01 692.45 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 678.95 Td (premises, ) Tj ET Q q 0 0 0 rg BT 115.46 678.95 Td (computer ) Tj ET Q q 0 0 0 rg BT 157.42 678.95 Td (equipment ) Tj ET Q q 0 0 0 rg BT 203.90 678.95 Td (used ) Tj ET Q q 0 0 0 rg BT 227.86 678.95 Td (in ) Tj ET Q q 0 0 0 rg BT 239.32 678.95 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 290.29 678.95 Td (contracts ) Tj ET Q q 0 0 0 rg BT 331.25 678.95 Td (and ) Tj ET Q q 0 0 0 rg BT 350.72 678.95 Td (long-term ) Tj ET Q q 0 0 0 rg BT 393.18 678.95 Td (service ) Tj ET Q q 0 0 0 rg BT 426.13 678.95 Td (agreements. ) Tj ET Q q 0 0 0 rg BT 480.61 678.95 Td (For ) Tj ET Q q 0 0 0 rg BT 498.56 678.95 Td (the ) Tj ET Q q 0 0 0 rg BT 515.52 678.95 Td (year ) Tj ET Q q 0 0 0 rg BT 537.47 678.95 Td (ended ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 665.45 Td (September ) Tj ET Q q 0 0 0 rg BT 118.91 665.45 Td (30, ) Tj ET Q q 0 0 0 rg BT 134.30 665.45 Td (2016, ) Tj ET Q q 0 0 0 rg BT 159.71 665.45 Td (the ) Tj ET Q q 0 0 0 rg BT 175.10 665.45 Td (Company ) Tj ET Q q 0 0 0 rg BT 216.51 665.45 Td (decreased ) Tj ET Q q 0 0 0 rg BT 261.42 665.45 Td (its ) Tj ET Q q 0 0 0 rg BT 273.30 665.45 Td (commitments ) Tj ET Q q 0 0 0 rg BT 329.69 665.45 Td (by ) Tj ET Q q 0 0 0 rg BT 342.08 665.45 Td ($770.2 ) Tj ET Q q 0 0 0 rg BT 372.49 665.45 Td (million ) Tj ET Q q 0 0 0 rg BT 400.88 665.45 Td (mainly ) Tj ET Q q 0 0 0 rg BT 429.77 665.45 Td (due ) Tj ET Q q 0 0 0 rg BT 447.67 665.45 Td (to ) Tj ET Q q 0 0 0 rg BT 458.06 665.45 Td (a ) Tj ET Q q 0 0 0 rg BT 465.95 665.45 Td (decrease ) Tj ET Q q 0 0 0 rg BT 505.86 665.45 Td (in ) Tj ET Q q 0 0 0 rg BT 515.75 665.45 Td (rental ) Tj ET Q q 0 0 0 rg BT 541.15 665.45 Td (of) Tj ET Q q 0 0 0 rg BT 548.49 665.45 Td (fice ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 651.95 Td (space ) Tj ET Q q 0 0 0 rg BT 98.52 651.95 Td (commitments ) Tj ET Q q 0 0 0 rg BT 154.52 651.95 Td (and ) Tj ET Q q 0 0 0 rg BT 172.04 651.95 Td (repayments ) Tj ET Q q 0 0 0 rg BT 221.56 651.95 Td (of ) Tj ET Q q 0 0 0 rg BT 231.57 651.95 Td (long-term ) Tj ET Q q 0 0 0 rg BT 272.08 651.95 Td (debt. ) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 71.75 635.45 235.00 -25.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 306.75 635.45 51.00 -25.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 357.75 635.45 51.00 -25.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 408.75 635.45 51.00 -25.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 459.75 635.45 51.00 -25.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 510.75 635.45 51.00 -25.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 71.75 463.45 235.00 -15.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 306.75 463.45 51.00 -15.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 357.75 463.45 51.00 -15.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 408.75 463.45 51.00 -15.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 459.75 463.45 51.00 -15.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 510.75 463.45 51.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.75 635.45 m 306.75 635.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306.75 635.45 m 357.75 635.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357.75 635.45 m 408.75 635.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.75 635.45 m 459.75 635.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 459.75 635.45 m 510.75 635.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 510.75 635.45 m 561.75 635.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.75 448.45 m 306.75 448.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306.75 448.45 m 357.75 448.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357.75 448.45 m 408.75 448.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.75 448.45 m 459.75 448.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 459.75 448.45 m 510.75 448.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 510.75 448.45 m 561.75 448.45 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 74.25 620.93 Td (Commitment type) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 335.70 614.68 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 361.20 622.68 Td (Less than 1) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 388.75 614.68 Td (year) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 425.55 622.68 Td (2nd and) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 420.65 614.68 Td (3rd years) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 464.55 622.68 Td (4th and 5th) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 486.30 614.68 Td (years) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 532.90 622.68 Td (After 5) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 537.30 614.68 Td (years) Tj ET Q BT /F4 7.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 74.25 602.85 Td (In thousands of CAD) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 588.93 Td (Long-term debt) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 318.30 587.73 Td (1,861,880) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 376.55 587.68 Td (173,362) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 427.55 587.68 Td (423,464) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 478.55 587.68 Td (342,285) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 529.60 587.73 Td (922,769) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 573.93 Td (Estimated interest on long-term debt) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 324.95 572.68 Td (361,842) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 381.05 572.73 Td (69,010) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 427.55 572.68 Td (124,309) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 483.05 572.73 Td (97,673) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 534.05 572.73 Td (70,850) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 558.93 Td (Finance lease obligations) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 329.40 557.68 Td (42,172) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 381.05 557.73 Td (18,738) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 432.05 557.73 Td (17,183) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.50 557.73 Td (5,489) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 545.20 557.73 Td (762) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 543.93 Td (Estimated interest on finance lease obligations) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 333.80 542.68 Td (2,033) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 392.20 542.73 Td (978) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 443.20 542.73 Td (878) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 494.20 542.73 Td (171) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.10 542.73 Td (6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 528.93 Td (Operating leases) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 80.25 513.93 Td (Rental of office space \(excluding costs of services and taxes\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 324.95 512.68 Td (573,957) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 376.55 512.68 Td (154,247) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 427.55 512.68 Td (209,521) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 478.55 512.68 Td (117,861) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 534.05 512.73 Td (92,328) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 80.25 498.93 Td (Computer equipment) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 329.40 497.68 Td (15,562) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 385.50 497.73 Td (7,941) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 436.50 497.73 Td (6,350) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 494.20 497.73 Td (976) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 545.20 497.73 Td (295) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 80.25 483.93 Td (Automobiles) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 329.40 482.68 Td (97,775) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 381.05 482.73 Td (39,256) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 432.05 482.73 Td (49,072) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.50 482.73 Td (9,111) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 545.20 482.73 Td (336) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 468.93 Td (Long-term service agreements and other) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 324.95 467.68 Td (189,676) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 381.05 467.73 Td (85,825) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 432.05 467.73 Td (93,446) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 483.05 467.73 Td (10,092) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 545.20 467.73 Td (313) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.25 453.93 Td (Total contractual obligations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 318.30 452.73 Td (3,144,897) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.55 452.68 Td (549,357) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 427.55 452.68 Td (924,223) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.55 452.68 Td (583,658) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.95 452.73 Td (1,087,659) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 429.45 Td (Our ) Tj ET Q q 0 0 0 rg BT 89.01 429.45 Td (required ) Tj ET Q q 0 0 0 rg BT 124.04 429.45 Td (benefit ) Tj ET Q q 0 0 0 rg BT 153.08 429.45 Td (plan ) Tj ET Q q 0 0 0 rg BT 172.10 429.45 Td (contributions ) Tj ET Q q 0 0 0 rg BT 225.14 429.45 Td (have ) Tj ET Q q 0 0 0 rg BT 246.67 429.45 Td (not ) Tj ET Q q 0 0 0 rg BT 261.19 429.45 Td (been ) Tj ET Q q 0 0 0 rg BT 283.23 429.45 Td (included ) Tj ET Q q 0 0 0 rg BT 318.76 429.45 Td (in ) Tj ET Q q 0 0 0 rg BT 327.78 429.45 Td (this ) Tj ET Q q 0 0 0 rg BT 343.79 429.45 Td (table ) Tj ET Q q 0 0 0 rg BT 365.32 429.45 Td (as ) Tj ET Q q 0 0 0 rg BT 376.84 429.45 Td (such ) Tj ET Q q 0 0 0 rg BT 397.86 429.45 Td (contributions ) Tj ET Q q 0 0 0 rg BT 450.90 429.45 Td (depend ) Tj ET Q q 0 0 0 rg BT 482.94 429.45 Td (on ) Tj ET Q q 0 0 0 rg BT 494.96 429.45 Td (periodic ) Tj ET Q q 0 0 0 rg BT 528.49 429.45 Td (actuarial ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 415.95 Td (valuations ) Tj ET Q q 0 0 0 rg BT 115.34 415.95 Td (for ) Tj ET Q q 0 0 0 rg BT 128.67 415.95 Td (funding ) Tj ET Q q 0 0 0 rg BT 161.01 415.95 Td (purposes. ) Tj ET Q q 0 0 0 rg BT 203.35 415.95 Td (Our ) Tj ET Q q 0 0 0 rg BT 221.17 415.95 Td (contributions ) Tj ET Q q 0 0 0 rg BT 275.02 415.95 Td (to ) Tj ET Q q 0 0 0 rg BT 285.34 415.95 Td (defined ) Tj ET Q q 0 0 0 rg BT 317.69 415.95 Td (benefit ) Tj ET Q q 0 0 0 rg BT 347.53 415.95 Td (plans ) Tj ET Q q 0 0 0 rg BT 371.86 415.95 Td (are ) Tj ET Q q 0 0 0 rg BT 387.69 415.95 Td (estimated ) Tj ET Q q 0 0 0 rg BT 429.52 415.95 Td (at ) Tj ET Q q 0 0 0 rg BT 439.85 415.95 Td ($19.2 ) Tj ET Q q 0 0 0 rg BT 465.19 415.95 Td (million ) Tj ET Q q 0 0 0 rg BT 493.51 415.95 Td (for ) Tj ET Q q 0 0 0 rg BT 506.83 415.95 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 530.16 415.95 Td (2017 ) Tj ET Q q 0 0 0 rg BT 552.99 415.95 Td (as ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 402.45 Td (described ) Tj ET Q q 0 0 0 rg BT 113.52 402.45 Td (in ) Tj ET Q q 0 0 0 rg BT 123.03 402.45 Td (note ) Tj ET Q q 0 0 0 rg BT 143.05 402.45 Td (16 ) Tj ET Q q 0 0 0 rg BT 155.56 402.45 Td (of ) Tj ET Q q 0 0 0 rg BT 165.56 402.45 Td (the ) Tj ET Q q 0 0 0 rg BT 180.58 402.45 Td (audited ) Tj ET Q q 0 0 0 rg BT 212.60 402.45 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 265.64 402.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 301.16 402.45 Td (statements.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 376.65 Td (4.4. ) Tj ET Q q 0 0 0 rg BT 91.01 376.65 Td (FINANCIAL) Tj ET Q q 0 0 0 rg BT 139.34 376.65 Td ( ) Tj ET Q q 0 0 0 rg BT 141.84 376.65 Td (INSTRUMENTS ) Tj ET Q q 0 0 0 rg BT 209.01 376.65 Td (AND ) Tj ET Q q 0 0 0 rg BT 231.01 376.65 Td (HEDGING ) Tj ET Q q 0 0 0 rg BT 275.51 376.65 Td (TRANSACTIONS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 360.15 Td (W) Tj ET Q q 0 0 0 rg BT 80.33 360.15 Td (e ) Tj ET Q q 0 0 0 rg BT 87.57 360.15 Td (use ) Tj ET Q q 0 0 0 rg BT 104.31 360.15 Td (various ) Tj ET Q q 0 0 0 rg BT 135.55 360.15 Td (financial ) Tj ET Q q 0 0 0 rg BT 170.80 360.15 Td (instruments ) Tj ET Q q 0 0 0 rg BT 219.54 360.15 Td (to ) Tj ET Q q 0 0 0 rg BT 229.28 360.15 Td (manage ) Tj ET Q q 0 0 0 rg BT 264.03 360.15 Td (our ) Tj ET Q q 0 0 0 rg BT 279.27 360.15 Td (exposure ) Tj ET Q q 0 0 0 rg BT 318.52 360.15 Td (to ) Tj ET Q q 0 0 0 rg BT 328.26 360.15 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 376.02 360.15 Td (of ) Tj ET Q q 0 0 0 rg BT 385.75 360.15 Td (foreign ) Tj ET Q q 0 0 0 rg BT 415.50 360.15 Td (currency ) Tj ET Q q 0 0 0 rg BT 452.24 360.15 Td (exchange ) Tj ET Q q 0 0 0 rg BT 493.50 360.15 Td (rates ) Tj ET Q q 0 0 0 rg BT 515.74 360.15 Td (and ) Tj ET Q q 0 0 0 rg BT 532.98 360.15 Td (interest ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 346.65 Td (rates. ) Tj ET Q q 0 0 0 rg BT 96.36 346.65 Td (Please ) Tj ET Q q 0 0 0 rg BT 125.73 346.65 Td (refer ) Tj ET Q q 0 0 0 rg BT 146.09 346.65 Td (to ) Tj ET Q q 0 0 0 rg BT 155.45 346.65 Td (notes ) Tj ET Q q 0 0 0 rg BT 179.32 346.65 Td (3 ) Tj ET Q q 0 0 0 rg BT 186.18 346.65 Td (and ) Tj ET Q q 0 0 0 rg BT 203.05 346.65 Td (30 ) Tj ET Q q 0 0 0 rg BT 214.92 346.65 Td (of ) Tj ET Q q 0 0 0 rg BT 224.27 346.65 Td (our ) Tj ET Q q 0 0 0 rg BT 239.14 346.65 Td (audited ) Tj ET Q q 0 0 0 rg BT 270.52 346.65 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 322.91 346.65 Td (financial ) Tj ET Q q 0 0 0 rg BT 357.78 346.65 Td (statements ) Tj ET Q q 0 0 0 rg BT 403.65 346.65 Td (for ) Tj ET Q q 0 0 0 rg BT 416.01 346.65 Td (additional ) Tj ET Q q 0 0 0 rg BT 456.40 346.65 Td (information ) Tj ET Q q 0 0 0 rg BT 502.77 346.65 Td (on ) Tj ET Q q 0 0 0 rg BT 514.63 346.65 Td (our ) Tj ET Q q 0 0 0 rg BT 529.50 346.65 Td (financial ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 333.15 Td (instruments.) Tj ET Q endstream endobj 59 0 obj <> endobj 60 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (28) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 72.00 708.95 Td (4.5. SELECTED MEASURES OF LIQUIDITY) Tj ET Q q 0 0 0 rg BT 252.86 708.95 Td ( ) Tj ET Q q 0 0 0 rg BT 255.03 708.95 Td (AND CAPIT) Tj ET Q q 0 0 0 rg BT 303.36 708.95 Td (AL) Tj ET Q q 0 0 0 rg BT 315.19 708.95 Td ( RESOURCES) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 72.50 698.45 327.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 399.50 698.45 82.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 481.50 698.45 81.00 -26.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 399.50 672.45 82.00 -12.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 399.50 660.45 82.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 399.50 647.45 82.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 399.50 634.45 82.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 399.50 621.45 82.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 399.50 608.45 82.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 399.50 595.45 82.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 582.45 327.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 399.50 582.45 82.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 481.50 582.45 81.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 399.50 569.45 82.00 -5.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 399.50 564.45 82.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 399.50 551.45 82.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 399.50 538.45 82.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 399.50 525.45 82.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 698.45 m 399.5 698.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 399.5 698.45 m 481.5 698.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 481.5 698.45 m 562.5 698.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 512.45 m 399.5 512.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 399.5 512.45 m 481.5 512.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 481.5 512.45 m 562.5 512.45 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 75.00 676.68 Td (As at September 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 454.20 676.68 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 535.20 676.68 Td (2015) Tj ET Q BT /F4 7.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 75.00 664.65 Td (In thousands of CAD except for percentages) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 651.68 Td (Reconciliation between net debt and long-term debt including the current portion:) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 638.68 Td (Net debt) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.25 638.73 Td (1,333,323) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 519.25 638.73 Td (1,779,623) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 75.00 625.63 Td (Add back:) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 87.00 612.68 Td (Cash and cash equivalents) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.90 612.68 Td (596,529) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 525.90 612.68 Td (305,262) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 87.00 599.68 Td (Long-term investments) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.30 599.68 Td (27,246) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 530.35 599.73 Td (42,202) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 87.00 586.68 Td (Fair value of foreign currency derivative financial instruments related to debt) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.70 586.68 Td (\(46,123) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 473.85 586.68 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 546.80 586.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 573.68 Td (Long-term debt including the current portion) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.25 573.73 Td (1,910,975) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 519.25 573.73 Td (2,127,087) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 555.68 Td (Net debt to capitalization ratio) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.25 555.73 Td (15.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.85 555.68 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 533.25 555.73 Td (21.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 548.85 555.68 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 542.68 Td (Return on equity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.25 542.73 Td (17.2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.85 542.68 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 533.25 542.73 Td (17.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 548.85 542.68 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 529.68 Td (Return on invested capital) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.25 529.73 Td (14.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.85 529.68 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 533.25 529.73 Td (14.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 548.85 529.68 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 516.68 Td (Days sales outstanding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.95 516.68 Td (44) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 545.95 516.68 Td (44) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 490.45 Td (W) Tj ET Q q 0 0 0 rg BT 80.33 490.45 Td (e ) Tj ET Q q 0 0 0 rg BT 88.73 490.45 Td (use ) Tj ET Q q 0 0 0 rg BT 106.64 490.45 Td (the ) Tj ET Q q 0 0 0 rg BT 122.54 490.45 Td (net ) Tj ET Q q 0 0 0 rg BT 138.45 490.45 Td (debt ) Tj ET Q q 0 0 0 rg BT 159.36 490.45 Td (to ) Tj ET Q q 0 0 0 rg BT 170.26 490.45 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 225.68 490.45 Td (ratio ) Tj ET Q q 0 0 0 rg BT 246.58 490.45 Td (as ) Tj ET Q q 0 0 0 rg BT 259.48 490.45 Td (an ) Tj ET Q q 0 0 0 rg BT 272.89 490.45 Td (indication ) Tj ET Q q 0 0 0 rg BT 314.31 490.45 Td (of ) Tj ET Q q 0 0 0 rg BT 325.21 490.45 Td (our ) Tj ET Q q 0 0 0 rg BT 341.61 490.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 378.02 490.45 Td (leverage ) Tj ET Q q 0 0 0 rg BT 415.94 490.45 Td (in ) Tj ET Q q 0 0 0 rg BT 426.34 490.45 Td (order ) Tj ET Q q 0 0 0 rg BT 450.75 490.45 Td (to ) Tj ET Q q 0 0 0 rg BT 461.65 490.45 Td (pursue ) Tj ET Q q 0 0 0 rg BT 492.56 490.45 Td (large ) Tj ET Q q 0 0 0 rg BT 515.96 490.45 Td (outsourcing ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 476.95 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 114.01 476.95 Td (expand ) Tj ET Q q 0 0 0 rg BT 146.53 476.95 Td (global ) Tj ET Q q 0 0 0 rg BT 173.55 476.95 Td (delivery ) Tj ET Q q 0 0 0 rg BT 207.56 476.95 Td (centers, ) Tj ET Q q 0 0 0 rg BT 242.57 476.95 Td (or ) Tj ET Q q 0 0 0 rg BT 253.57 476.95 Td (make ) Tj ET Q q 0 0 0 rg BT 278.57 476.95 Td (acquisitions. ) Tj ET Q q 0 0 0 rg BT 330.90 476.95 Td (The ) Tj ET Q q 0 0 0 rg BT 349.40 476.95 Td (net ) Tj ET Q q 0 0 0 rg BT 364.91 476.95 Td (debt ) Tj ET Q q 0 0 0 rg BT 385.42 476.95 Td (to ) Tj ET Q q 0 0 0 rg BT 395.93 476.95 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 450.95 476.95 Td (ratio ) Tj ET Q q 0 0 0 rg BT 471.46 476.95 Td (decreased ) Tj ET Q q 0 0 0 rg BT 516.48 476.95 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.98 476.95 Td (15.8%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 552.50 476.95 Td ( ) Tj ET Q q 0 0 0 rg BT 555.50 476.95 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 463.45 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 92.02 463.45 Td ( ) Tj ET Q q 0 0 0 rg BT 94.40 463.45 Td (from ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 114.77 463.45 Td (21.7%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 140.29 463.45 Td ( ) Tj ET Q q 0 0 0 rg BT 142.66 463.45 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 152.04 463.45 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 172.06 463.45 Td (. ) Tj ET Q q 0 0 0 rg BT 176.79 463.45 Td (The ) Tj ET Q q 0 0 0 rg BT 194.67 463.45 Td (change ) Tj ET Q q 0 0 0 rg BT 226.57 463.45 Td (in ) Tj ET Q q 0 0 0 rg BT 235.95 463.45 Td (the ) Tj ET Q q 0 0 0 rg BT 250.83 463.45 Td (net ) Tj ET Q q 0 0 0 rg BT 265.72 463.45 Td (debt ) Tj ET Q q 0 0 0 rg BT 285.61 463.45 Td (to ) Tj ET Q q 0 0 0 rg BT 295.49 463.45 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 349.90 463.45 Td (ratio ) Tj ET Q q 0 0 0 rg BT 369.78 463.45 Td (was ) Tj ET Q q 0 0 0 rg BT 388.16 463.45 Td (mostly ) Tj ET Q q 0 0 0 rg BT 416.54 463.45 Td (due ) Tj ET Q q 0 0 0 rg BT 433.93 463.45 Td (to ) Tj ET Q q 0 0 0 rg BT 443.81 463.45 Td (our ) Tj ET Q q 0 0 0 rg BT 459.19 463.45 Td (improved ) Tj ET Q q 0 0 0 rg BT 498.58 463.45 Td (cash ) Tj ET Q q 0 0 0 rg BT 519.96 463.45 Td (generation ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 449.95 Td (allowing ) Tj ET Q q 0 0 0 rg BT 107.02 449.95 Td (us ) Tj ET Q q 0 0 0 rg BT 119.03 449.95 Td (to ) Tj ET Q q 0 0 0 rg BT 129.03 449.95 Td (reduce ) Tj ET Q q 0 0 0 rg BT 159.05 449.95 Td (our ) Tj ET Q q 0 0 0 rg BT 174.56 449.95 Td (net ) Tj ET Q q 0 0 0 rg BT 189.57 449.95 Td (debt ) Tj ET Q q 0 0 0 rg BT 209.59 449.95 Td (by ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 221.59 449.95 Td ($446.3 ) Tj ET Q q 0 0 0 rg BT 251.62 449.95 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 277.13 449.95 Td (. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 430.45 Td (ROE ) Tj ET Q q 0 0 0 rg BT 93.90 430.45 Td (is ) Tj ET Q q 0 0 0 rg BT 102.79 430.45 Td (a ) Tj ET Q q 0 0 0 rg BT 110.19 430.45 Td (measure ) Tj ET Q q 0 0 0 rg BT 147.60 430.45 Td (of ) Tj ET Q q 0 0 0 rg BT 157.49 430.45 Td (the ) Tj ET Q q 0 0 0 rg BT 172.40 430.45 Td (return ) Tj ET Q q 0 0 0 rg BT 198.30 430.45 Td (we ) Tj ET Q q 0 0 0 rg BT 212.20 430.45 Td (are ) Tj ET Q q 0 0 0 rg BT 227.60 430.45 Td (generating ) Tj ET Q q 0 0 0 rg BT 272.53 430.45 Td (for ) Tj ET Q q 0 0 0 rg BT 285.43 430.45 Td (our ) Tj ET Q q 0 0 0 rg BT 300.83 430.45 Td (shareholders. ) Tj ET Q q 0 0 0 rg BT 357.75 430.45 Td (ROE ) Tj ET Q q 0 0 0 rg BT 379.65 430.45 Td (decreased ) Tj ET Q q 0 0 0 rg BT 424.07 430.45 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 433.97 430.45 Td (17.2%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 459.49 430.45 Td ( ) Tj ET Q q 0 0 0 rg BT 461.88 430.45 Td (in ) Tj ET Q q 0 0 0 rg BT 471.28 430.45 Td (fiscal ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 494.18 430.45 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 514.20 430.45 Td ( ) Tj ET Q q 0 0 0 rg BT 516.59 430.45 Td (from ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.98 430.45 Td (17.7%) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 416.95 Td (in ) Tj ET Q q 0 0 0 rg BT 81.51 416.95 Td (fiscal ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 104.51 416.95 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 124.53 416.95 Td (. ) Tj ET Q q 0 0 0 rg BT 129.37 416.95 Td (The ) Tj ET Q q 0 0 0 rg BT 147.38 416.95 Td (change ) Tj ET Q q 0 0 0 rg BT 179.41 416.95 Td (was ) Tj ET Q q 0 0 0 rg BT 197.91 416.95 Td (mostly ) Tj ET Q q 0 0 0 rg BT 226.42 416.95 Td (the ) Tj ET Q q 0 0 0 rg BT 241.43 416.95 Td (result ) Tj ET Q q 0 0 0 rg BT 265.94 416.95 Td (of ) Tj ET Q q 0 0 0 rg BT 275.94 416.95 Td (an ) Tj ET Q q 0 0 0 rg BT 288.45 416.95 Td (increase ) Tj ET Q q 0 0 0 rg BT 324.97 416.95 Td (in ) Tj ET Q q 0 0 0 rg BT 334.48 416.95 Td (average ) Tj ET Q q 0 0 0 rg BT 369.50 416.95 Td (capital ) Tj ET Q q 0 0 0 rg BT 398.02 416.95 Td (driven ) Tj ET Q q 0 0 0 rg BT 425.03 416.95 Td (by ) Tj ET Q q 0 0 0 rg BT 437.04 416.95 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 490.57 416.95 Td (earnings. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 397.45 Td (ROIC ) Tj ET Q q 0 0 0 rg BT 96.54 397.45 Td (is ) Tj ET Q q 0 0 0 rg BT 105.07 397.45 Td (a ) Tj ET Q q 0 0 0 rg BT 112.12 397.45 Td (measure ) Tj ET Q q 0 0 0 rg BT 149.17 397.45 Td (of ) Tj ET Q q 0 0 0 rg BT 158.71 397.45 Td (the ) Tj ET Q q 0 0 0 rg BT 173.26 397.45 Td (Company) Tj ET Q q 0 0 0 rg BT 213.62 397.45 Td (s ) Tj ET Q q 0 0 0 rg BT 220.16 397.45 Td (ef) Tj ET Q q 0 0 0 rg BT 227.50 397.45 Td (ficiency ) Tj ET Q q 0 0 0 rg BT 259.55 397.45 Td (in ) Tj ET Q q 0 0 0 rg BT 268.59 397.45 Td (allocating ) Tj ET Q q 0 0 0 rg BT 308.65 397.45 Td (the ) Tj ET Q q 0 0 0 rg BT 323.20 397.45 Td (capital ) Tj ET Q q 0 0 0 rg BT 351.25 397.45 Td (under ) Tj ET Q q 0 0 0 rg BT 376.31 397.45 Td (our ) Tj ET Q q 0 0 0 rg BT 391.36 397.45 Td (control ) Tj ET Q q 0 0 0 rg BT 420.41 397.45 Td (to ) Tj ET Q q 0 0 0 rg BT 429.95 397.45 Td (profitable ) Tj ET Q q 0 0 0 rg BT 469.01 397.45 Td (investments. ) Tj ET Q q 0 0 0 rg BT 521.44 397.45 Td (The ) Tj ET Q q 0 0 0 rg BT 538.98 397.45 Td (return ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 383.95 Td (on ) Tj ET Q q 0 0 0 rg BT 84.51 383.95 Td (invested ) Tj ET Q q 0 0 0 rg BT 120.53 383.95 Td (capital ) Tj ET Q q 0 0 0 rg BT 149.05 383.95 Td (was ) Tj ET Q q 0 0 0 rg BT 167.55 383.95 Td (stable ) Tj ET Q q 0 0 0 rg BT 194.07 383.95 Td (when ) Tj ET Q q 0 0 0 rg BT 218.09 383.95 Td (compared ) Tj ET Q q 0 0 0 rg BT 260.61 383.95 Td (to ) Tj ET Q q 0 0 0 rg BT 270.62 383.95 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 293.62 383.95 Td (2015 ) Tj ET Q q 0 0 0 rg BT 316.14 383.95 Td (at ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 326.15 383.95 Td (14.5%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 351.67 383.95 Td (. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 364.45 Td (DSO ) Tj ET Q q 0 0 0 rg BT 93.72 364.45 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.43 364.45 Td (44) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 113.44 364.45 Td ( ) Tj ET Q q 0 0 0 rg BT 115.66 364.45 Td (days ) Tj ET Q q 0 0 0 rg BT 136.88 364.45 Td (was ) Tj ET Q q 0 0 0 rg BT 155.10 364.45 Td (stable ) Tj ET Q q 0 0 0 rg BT 181.33 364.45 Td (when ) Tj ET Q q 0 0 0 rg BT 205.05 364.45 Td (compared ) Tj ET Q q 0 0 0 rg BT 247.29 364.45 Td (to ) Tj ET Q q 0 0 0 rg BT 257.01 364.45 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 279.72 364.45 Td (2015. ) Tj ET Q q 0 0 0 rg BT 304.46 364.45 Td (In ) Tj ET Q q 0 0 0 rg BT 314.18 364.45 Td (calculating ) Tj ET Q q 0 0 0 rg BT 358.91 364.45 Td (the ) Tj ET Q q 0 0 0 rg BT 373.64 364.45 Td (DSO, ) Tj ET Q q 0 0 0 rg BT 397.85 364.45 Td (we ) Tj ET Q q 0 0 0 rg BT 411.57 364.45 Td (subtract ) Tj ET Q q 0 0 0 rg BT 445.80 364.45 Td (the ) Tj ET Q q 0 0 0 rg BT 460.52 364.45 Td (deferred ) Tj ET Q q 0 0 0 rg BT 496.25 364.45 Td (revenue ) Tj ET Q q 0 0 0 rg BT 530.99 364.45 Td (balance ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 350.95 Td (from ) Tj ET Q q 0 0 0 rg BT 91.88 350.95 Td (trade ) Tj ET Q q 0 0 0 rg BT 114.27 350.95 Td (accounts ) Tj ET Q q 0 0 0 rg BT 152.17 350.95 Td (receivable ) Tj ET Q q 0 0 0 rg BT 195.06 350.95 Td (and ) Tj ET Q q 0 0 0 rg BT 211.96 350.95 Td (work ) Tj ET Q q 0 0 0 rg BT 232.84 350.95 Td (in ) Tj ET Q q 0 0 0 rg BT 241.72 350.95 Td (progress; ) Tj ET Q q 0 0 0 rg BT 281.11 350.95 Td (for ) Tj ET Q q 0 0 0 rg BT 293.49 350.95 Td (that ) Tj ET Q q 0 0 0 rg BT 310.38 350.95 Td (reason, ) Tj ET Q q 0 0 0 rg BT 342.27 350.95 Td (the ) Tj ET Q q 0 0 0 rg BT 356.66 350.95 Td (timing ) Tj ET Q q 0 0 0 rg BT 382.54 350.95 Td (of ) Tj ET Q q 0 0 0 rg BT 391.93 350.95 Td (payments ) Tj ET Q q 0 0 0 rg BT 432.82 350.95 Td (received ) Tj ET Q q 0 0 0 rg BT 468.72 350.95 Td (from ) Tj ET Q q 0 0 0 rg BT 488.59 350.95 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 537.00 350.95 Td (clients ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 337.45 Td (in ) Tj ET Q q 0 0 0 rg BT 80.55 337.45 Td (advance ) Tj ET Q q 0 0 0 rg BT 116.12 337.45 Td (of ) Tj ET Q q 0 0 0 rg BT 125.17 337.45 Td (the ) Tj ET Q q 0 0 0 rg BT 139.22 337.45 Td (work ) Tj ET Q q 0 0 0 rg BT 159.77 337.45 Td (to ) Tj ET Q q 0 0 0 rg BT 168.82 337.45 Td (be ) Tj ET Q q 0 0 0 rg BT 180.37 337.45 Td (performed ) Tj ET Q q 0 0 0 rg BT 222.93 337.45 Td (and ) Tj ET Q q 0 0 0 rg BT 239.49 337.45 Td (the ) Tj ET Q q 0 0 0 rg BT 253.55 337.45 Td (timing ) Tj ET Q q 0 0 0 rg BT 279.10 337.45 Td (of ) Tj ET Q q 0 0 0 rg BT 288.15 337.45 Td (payments ) Tj ET Q q 0 0 0 rg BT 328.71 337.45 Td (related ) Tj ET Q q 0 0 0 rg BT 357.77 337.45 Td (to ) Tj ET Q q 0 0 0 rg BT 366.82 337.45 Td (project ) Tj ET Q q 0 0 0 rg BT 395.38 337.45 Td (milestones ) Tj ET Q q 0 0 0 rg BT 439.94 337.45 Td (can ) Tj ET Q q 0 0 0 rg BT 455.99 337.45 Td (af) Tj ET Q q 0 0 0 rg BT 463.34 337.45 Td (fect ) Tj ET Q q 0 0 0 rg BT 479.39 337.45 Td (the ) Tj ET Q q 0 0 0 rg BT 493.44 337.45 Td (DSO ) Tj ET Q q 0 0 0 rg BT 514.49 337.45 Td (fluctuations. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 323.95 Td (W) Tj ET Q q 0 0 0 rg BT 80.33 323.95 Td (e ) Tj ET Q q 0 0 0 rg BT 87.84 323.95 Td (remain ) Tj ET Q q 0 0 0 rg BT 117.85 323.95 Td (committed ) Tj ET Q q 0 0 0 rg BT 161.86 323.95 Td (to ) Tj ET Q q 0 0 0 rg BT 171.87 323.95 Td (manage ) Tj ET Q q 0 0 0 rg BT 206.89 323.95 Td (our ) Tj ET Q q 0 0 0 rg BT 222.40 323.95 Td (DSO ) Tj ET Q q 0 0 0 rg BT 244.40 323.95 Td (within ) Tj ET Q q 0 0 0 rg BT 269.91 323.95 Td (our ) Tj ET Q q 0 0 0 rg BT 285.42 323.95 Td (45 ) Tj ET Q q 0 0 0 rg BT 297.93 323.95 Td (day ) Tj ET Q q 0 0 0 rg BT 314.94 323.95 Td (target ) Tj ET Q q 0 0 0 rg BT 340.46 323.95 Td (or ) Tj ET Q q 0 0 0 rg BT 350.96 323.95 Td (less.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 72.00 295.15 Td ( ) Tj ET Q q 0 0 0 rg BT 74.50 295.15 Td (4.6. ) Tj ET Q q 0 0 0 rg BT 92.01 295.15 Td (OFF-BALANCE ) Tj ET Q q 0 0 0 rg BT 159.50 295.15 Td (SHEET ) Tj ET Q q 0 0 0 rg BT 192.01 295.15 Td (FINANCING ) Tj ET Q q 0 0 0 rg BT 244.17 295.15 Td (AND ) Tj ET Q q 0 0 0 rg BT 266.17 295.15 Td (GUARANTEES) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 276.65 Td (CGI ) Tj ET Q q 0 0 0 rg BT 91.02 276.65 Td (engages ) Tj ET Q q 0 0 0 rg BT 128.58 276.65 Td (in ) Tj ET Q q 0 0 0 rg BT 138.60 276.65 Td (the ) Tj ET Q q 0 0 0 rg BT 154.14 276.65 Td (practice ) Tj ET Q q 0 0 0 rg BT 188.67 276.65 Td (of ) Tj ET Q q 0 0 0 rg BT 199.20 276.65 Td (of) Tj ET Q q 0 0 0 rg BT 206.54 276.65 Td (f-balance ) Tj ET Q q 0 0 0 rg BT 246.59 276.65 Td (sheet ) Tj ET Q q 0 0 0 rg BT 271.63 276.65 Td (financing ) Tj ET Q q 0 0 0 rg BT 310.68 276.65 Td (in ) Tj ET Q q 0 0 0 rg BT 320.70 276.65 Td (the ) Tj ET Q q 0 0 0 rg BT 336.24 276.65 Td (normal ) Tj ET Q q 0 0 0 rg BT 366.77 276.65 Td (course ) Tj ET Q q 0 0 0 rg BT 396.80 276.65 Td (of ) Tj ET Q q 0 0 0 rg BT 407.33 276.65 Td (operations ) Tj ET Q q 0 0 0 rg BT 452.38 276.65 Td (for ) Tj ET Q q 0 0 0 rg BT 465.91 276.65 Td (a ) Tj ET Q q 0 0 0 rg BT 473.93 276.65 Td (variety ) Tj ET Q q 0 0 0 rg BT 503.46 276.65 Td (of ) Tj ET Q q 0 0 0 rg BT 513.99 276.65 Td (transactions ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 263.15 Td (such ) Tj ET Q q 0 0 0 rg BT 93.56 263.15 Td (as ) Tj ET Q q 0 0 0 rg BT 105.62 263.15 Td (operating ) Tj ET Q q 0 0 0 rg BT 145.71 263.15 Td (leases ) Tj ET Q q 0 0 0 rg BT 174.28 263.15 Td (for ) Tj ET Q q 0 0 0 rg BT 187.33 263.15 Td (of) Tj ET Q q 0 0 0 rg BT 194.68 263.15 Td (fice ) Tj ET Q q 0 0 0 rg BT 211.24 263.15 Td (space, ) Tj ET Q q 0 0 0 rg BT 240.31 263.15 Td (computer ) Tj ET Q q 0 0 0 rg BT 280.38 263.15 Td (equipment ) Tj ET Q q 0 0 0 rg BT 324.96 263.15 Td (and ) Tj ET Q q 0 0 0 rg BT 342.53 263.15 Td (vehicles ) Tj ET Q q 0 0 0 rg BT 377.60 263.15 Td (as ) Tj ET Q q 0 0 0 rg BT 389.66 263.15 Td (well ) Tj ET Q q 0 0 0 rg BT 407.72 263.15 Td (as ) Tj ET Q q 0 0 0 rg BT 419.78 263.15 Td (accounts ) Tj ET Q q 0 0 0 rg BT 458.36 263.15 Td (receivable ) Tj ET Q q 0 0 0 rg BT 501.93 263.15 Td (factoring. ) Tj ET Q q 0 0 0 rg BT 541.51 263.15 Td (From ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 249.65 Td (time ) Tj ET Q q 0 0 0 rg BT 92.14 249.65 Td (to ) Tj ET Q q 0 0 0 rg BT 102.78 249.65 Td (time, ) Tj ET Q q 0 0 0 rg BT 125.42 249.65 Td (we ) Tj ET Q q 0 0 0 rg BT 140.07 249.65 Td (also ) Tj ET Q q 0 0 0 rg BT 159.71 249.65 Td (enter ) Tj ET Q q 0 0 0 rg BT 183.37 249.65 Td (into ) Tj ET Q q 0 0 0 rg BT 201.01 249.65 Td (agreements ) Tj ET Q q 0 0 0 rg BT 251.68 249.65 Td (to ) Tj ET Q q 0 0 0 rg BT 262.32 249.65 Td (provide ) Tj ET Q q 0 0 0 rg BT 294.98 249.65 Td (financial ) Tj ET Q q 0 0 0 rg BT 331.14 249.65 Td (or ) Tj ET Q q 0 0 0 rg BT 342.28 249.65 Td (performance ) Tj ET Q q 0 0 0 rg BT 395.94 249.65 Td (assurances ) Tj ET Q q 0 0 0 rg BT 445.10 249.65 Td (to ) Tj ET Q q 0 0 0 rg BT 455.74 249.65 Td (third ) Tj ET Q q 0 0 0 rg BT 476.39 249.65 Td (parties ) Tj ET Q q 0 0 0 rg BT 506.54 249.65 Td (on ) Tj ET Q q 0 0 0 rg BT 519.69 249.65 Td (the ) Tj ET Q q 0 0 0 rg BT 535.34 249.65 Td (sale ) Tj ET Q q 0 0 0 rg BT 554.99 249.65 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 236.15 Td (assets, ) Tj ET Q q 0 0 0 rg BT 103.01 236.15 Td (business ) Tj ET Q q 0 0 0 rg BT 141.03 236.15 Td (divestitures ) Tj ET Q q 0 0 0 rg BT 189.05 236.15 Td (and ) Tj ET Q q 0 0 0 rg BT 206.57 236.15 Td (guarantees ) Tj ET Q q 0 0 0 rg BT 254.10 236.15 Td (on ) Tj ET Q q 0 0 0 rg BT 266.62 236.15 Td (government ) Tj ET Q q 0 0 0 rg BT 316.64 236.15 Td (and ) Tj ET Q q 0 0 0 rg BT 334.16 236.15 Td (commercial ) Tj ET Q q 0 0 0 rg BT 382.67 236.15 Td (contracts.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 216.65 Td (In ) Tj ET Q q 0 0 0 rg BT 82.02 216.65 Td (connection ) Tj ET Q q 0 0 0 rg BT 128.07 216.65 Td (with ) Tj ET Q q 0 0 0 rg BT 146.59 216.65 Td (sales ) Tj ET Q q 0 0 0 rg BT 170.11 216.65 Td (of ) Tj ET Q q 0 0 0 rg BT 180.13 216.65 Td (assets ) Tj ET Q q 0 0 0 rg BT 208.66 216.65 Td (and ) Tj ET Q q 0 0 0 rg BT 226.19 216.65 Td (business ) Tj ET Q q 0 0 0 rg BT 264.22 216.65 Td (divestitures, ) Tj ET Q q 0 0 0 rg BT 314.75 216.65 Td (we ) Tj ET Q q 0 0 0 rg BT 328.77 216.65 Td (may ) Tj ET Q q 0 0 0 rg BT 348.29 216.65 Td (be ) Tj ET Q q 0 0 0 rg BT 360.81 216.65 Td (required ) Tj ET Q q 0 0 0 rg BT 396.35 216.65 Td (to ) Tj ET Q q 0 0 0 rg BT 406.37 216.65 Td (pay ) Tj ET Q q 0 0 0 rg BT 423.39 216.65 Td (counterparties ) Tj ET Q q 0 0 0 rg BT 482.94 216.65 Td (for ) Tj ET Q q 0 0 0 rg BT 495.96 216.65 Td (costs ) Tj ET Q q 0 0 0 rg BT 519.48 216.65 Td (and ) Tj ET Q q 0 0 0 rg BT 537.01 216.65 Td (losses ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 203.15 Td (incurred ) Tj ET Q q 0 0 0 rg BT 107.56 203.15 Td (as ) Tj ET Q q 0 0 0 rg BT 120.12 203.15 Td (the ) Tj ET Q q 0 0 0 rg BT 135.68 203.15 Td (result ) Tj ET Q q 0 0 0 rg BT 160.74 203.15 Td (of ) Tj ET Q q 0 0 0 rg BT 171.29 203.15 Td (breaches ) Tj ET Q q 0 0 0 rg BT 211.37 203.15 Td (in ) Tj ET Q q 0 0 0 rg BT 221.42 203.15 Td (our ) Tj ET Q q 0 0 0 rg BT 237.48 203.15 Td (contractual ) Tj ET Q q 0 0 0 rg BT 284.55 203.15 Td (obligations, ) Tj ET Q q 0 0 0 rg BT 333.14 203.15 Td (representations ) Tj ET Q q 0 0 0 rg BT 398.22 203.15 Td (and ) Tj ET Q q 0 0 0 rg BT 416.29 203.15 Td (warranties, ) Tj ET Q q 0 0 0 rg BT 463.35 203.15 Td (intellectual ) Tj ET Q q 0 0 0 rg BT 508.93 203.15 Td (property ) Tj ET Q q 0 0 0 rg BT 545.00 203.15 Td (right ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 189.65 Td (infringement ) Tj ET Q q 0 0 0 rg BT 123.61 189.65 Td (and ) Tj ET Q q 0 0 0 rg BT 140.71 189.65 Td (litigation ) Tj ET Q q 0 0 0 rg BT 175.81 189.65 Td (against ) Tj ET Q q 0 0 0 rg BT 206.92 189.65 Td (counterparties, ) Tj ET Q q 0 0 0 rg BT 268.54 189.65 Td (among ) Tj ET Q q 0 0 0 rg BT 298.14 189.65 Td (others. ) Tj ET Q q 0 0 0 rg BT 327.74 189.65 Td (While ) Tj ET Q q 0 0 0 rg BT 352.33 189.65 Td (some ) Tj ET Q q 0 0 0 rg BT 376.42 189.65 Td (of ) Tj ET Q q 0 0 0 rg BT 386.01 189.65 Td (the ) Tj ET Q q 0 0 0 rg BT 400.60 189.65 Td (agreements ) Tj ET Q q 0 0 0 rg BT 450.21 189.65 Td (specify ) Tj ET Q q 0 0 0 rg BT 480.31 189.65 Td (a ) Tj ET Q q 0 0 0 rg BT 487.40 189.65 Td (maximum ) Tj ET Q q 0 0 0 rg BT 528.48 189.65 Td (potential ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 176.15 Td (exposure ) Tj ET Q q 0 0 0 rg BT 112.38 176.15 Td (of ) Tj ET Q q 0 0 0 rg BT 123.24 176.15 Td (approximately ) Tj ET Q q 0 0 0 rg BT 182.63 176.15 Td ($10.8 ) Tj ET Q q 0 0 0 rg BT 208.50 176.15 Td (million, ) Tj ET Q q 0 0 0 rg BT 239.87 176.15 Td (others ) Tj ET Q q 0 0 0 rg BT 268.24 176.15 Td (do ) Tj ET Q q 0 0 0 rg BT 281.60 176.15 Td (not ) Tj ET Q q 0 0 0 rg BT 297.47 176.15 Td (specify ) Tj ET Q q 0 0 0 rg BT 328.84 176.15 Td (a ) Tj ET Q q 0 0 0 rg BT 337.20 176.15 Td (maximum ) Tj ET Q q 0 0 0 rg BT 379.56 176.15 Td (amount ) Tj ET Q q 0 0 0 rg BT 412.93 176.15 Td (or ) Tj ET Q q 0 0 0 rg BT 424.29 176.15 Td (limited ) Tj ET Q q 0 0 0 rg BT 453.66 176.15 Td (period. ) Tj ET Q q 0 0 0 rg BT 484.53 176.15 Td (It ) Tj ET Q q 0 0 0 rg BT 492.89 176.15 Td (is ) Tj ET Q q 0 0 0 rg BT 502.74 176.15 Td (not ) Tj ET Q q 0 0 0 rg BT 518.61 176.15 Td (possible ) Tj ET Q q 0 0 0 rg BT 554.99 176.15 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 162.65 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 118.97 162.65 Td (estimate ) Tj ET Q q 0 0 0 rg BT 155.92 162.65 Td (the ) Tj ET Q q 0 0 0 rg BT 171.36 162.65 Td (maximum ) Tj ET Q q 0 0 0 rg BT 213.30 162.65 Td (amount ) Tj ET Q q 0 0 0 rg BT 246.26 162.65 Td (that ) Tj ET Q q 0 0 0 rg BT 264.21 162.65 Td (may ) Tj ET Q q 0 0 0 rg BT 284.14 162.65 Td (have ) Tj ET Q q 0 0 0 rg BT 306.60 162.65 Td (to ) Tj ET Q q 0 0 0 rg BT 317.04 162.65 Td (be ) Tj ET Q q 0 0 0 rg BT 329.99 162.65 Td (paid ) Tj ET Q q 0 0 0 rg BT 349.94 162.65 Td (under ) Tj ET Q q 0 0 0 rg BT 375.89 162.65 Td (such ) Tj ET Q q 0 0 0 rg BT 397.84 162.65 Td (guarantees. ) Tj ET Q q 0 0 0 rg BT 448.12 162.65 Td (The ) Tj ET Q q 0 0 0 rg BT 466.57 162.65 Td (amounts ) Tj ET Q q 0 0 0 rg BT 504.02 162.65 Td (are ) Tj ET Q q 0 0 0 rg BT 519.97 162.65 Td (dependent ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 149.15 Td (upon ) Tj ET Q q 0 0 0 rg BT 95.33 149.15 Td (the ) Tj ET Q q 0 0 0 rg BT 111.16 149.15 Td (outcome ) Tj ET Q q 0 0 0 rg BT 148.99 149.15 Td (of ) Tj ET Q q 0 0 0 rg BT 159.81 149.15 Td (future ) Tj ET Q q 0 0 0 rg BT 186.13 149.15 Td (contingent ) Tj ET Q q 0 0 0 rg BT 230.98 149.15 Td (events, ) Tj ET Q q 0 0 0 rg BT 263.31 149.15 Td (the ) Tj ET Q q 0 0 0 rg BT 279.13 149.15 Td (nature ) Tj ET Q q 0 0 0 rg BT 307.96 149.15 Td (and ) Tj ET Q q 0 0 0 rg BT 326.29 149.15 Td (likelihood ) Tj ET Q q 0 0 0 rg BT 367.13 149.15 Td (of ) Tj ET Q q 0 0 0 rg BT 377.95 149.15 Td (which ) Tj ET Q q 0 0 0 rg BT 404.27 149.15 Td (cannot ) Tj ET Q q 0 0 0 rg BT 434.61 149.15 Td (be ) Tj ET Q q 0 0 0 rg BT 447.93 149.15 Td (determined ) Tj ET Q q 0 0 0 rg BT 496.27 149.15 Td (at ) Tj ET Q q 0 0 0 rg BT 507.09 149.15 Td (this ) Tj ET Q q 0 0 0 rg BT 524.40 149.15 Td (time. ) Tj ET Q q 0 0 0 rg BT 547.00 149.15 Td (The ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 135.65 Td (Company ) Tj ET Q q 0 0 0 rg BT 113.31 135.65 Td (does ) Tj ET Q q 0 0 0 rg BT 135.61 135.65 Td (not ) Tj ET Q q 0 0 0 rg BT 150.92 135.65 Td (expect ) Tj ET Q q 0 0 0 rg BT 180.22 135.65 Td (to ) Tj ET Q q 0 0 0 rg BT 190.52 135.65 Td (incur ) Tj ET Q q 0 0 0 rg BT 212.82 135.65 Td (any ) Tj ET Q q 0 0 0 rg BT 230.12 135.65 Td (potential ) Tj ET Q q 0 0 0 rg BT 266.93 135.65 Td (payment ) Tj ET Q q 0 0 0 rg BT 304.24 135.65 Td (in ) Tj ET Q q 0 0 0 rg BT 314.04 135.65 Td (connection ) Tj ET Q q 0 0 0 rg BT 360.36 135.65 Td (with ) Tj ET Q q 0 0 0 rg BT 379.15 135.65 Td (these ) Tj ET Q q 0 0 0 rg BT 403.96 135.65 Td (guarantees ) Tj ET Q q 0 0 0 rg BT 451.79 135.65 Td (that ) Tj ET Q q 0 0 0 rg BT 469.59 135.65 Td (could ) Tj ET Q q 0 0 0 rg BT 493.89 135.65 Td (have ) Tj ET Q q 0 0 0 rg BT 516.20 135.65 Td (a ) Tj ET Q q 0 0 0 rg BT 524.00 135.65 Td (materially ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 122.15 Td (adverse ) Tj ET Q q 0 0 0 rg BT 106.52 122.15 Td (ef) Tj ET Q q 0 0 0 rg BT 113.86 122.15 Td (fect ) Tj ET Q q 0 0 0 rg BT 130.87 122.15 Td (on ) Tj ET Q q 0 0 0 rg BT 143.38 122.15 Td (its ) Tj ET Q q 0 0 0 rg BT 154.88 122.15 Td (audited ) Tj ET Q q 0 0 0 rg BT 186.91 122.15 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 239.95 122.15 Td (financial ) Tj ET Q q 0 0 0 rg BT 275.47 122.15 Td (statements.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 102.65 Td (In ) Tj ET Q q 0 0 0 rg BT 81.76 102.65 Td (the ) Tj ET Q q 0 0 0 rg BT 96.52 102.65 Td (normal ) Tj ET Q q 0 0 0 rg BT 126.28 102.65 Td (course ) Tj ET Q q 0 0 0 rg BT 155.55 102.65 Td (of ) Tj ET Q q 0 0 0 rg BT 165.30 102.65 Td (business, ) Tj ET Q q 0 0 0 rg BT 205.58 102.65 Td (we ) Tj ET Q q 0 0 0 rg BT 219.33 102.65 Td (may ) Tj ET Q q 0 0 0 rg BT 238.59 102.65 Td (provide ) Tj ET Q q 0 0 0 rg BT 270.36 102.65 Td (certain ) Tj ET Q q 0 0 0 rg BT 299.62 102.65 Td (clients, ) Tj ET Q q 0 0 0 rg BT 329.88 102.65 Td (principally ) Tj ET Q q 0 0 0 rg BT 372.15 102.65 Td (governmental ) Tj ET Q q 0 0 0 rg BT 428.93 102.65 Td (entities, ) Tj ET Q q 0 0 0 rg BT 462.20 102.65 Td (with ) Tj ET Q q 0 0 0 rg BT 480.46 102.65 Td (bid ) Tj ET Q q 0 0 0 rg BT 494.72 102.65 Td (and ) Tj ET Q q 0 0 0 rg BT 511.99 102.65 Td (performance ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 89.15 Td (bonds. ) Tj ET Q q 0 0 0 rg BT 101.49 89.15 Td (In ) Tj ET Q q 0 0 0 rg BT 111.47 89.15 Td (general, ) Tj ET Q q 0 0 0 rg BT 146.46 89.15 Td (we ) Tj ET Q q 0 0 0 rg BT 160.43 89.15 Td (would ) Tj ET Q q 0 0 0 rg BT 186.42 89.15 Td (only ) Tj ET Q q 0 0 0 rg BT 205.39 89.15 Td (be ) Tj ET Q q 0 0 0 rg BT 217.87 89.15 Td (liable ) Tj ET Q q 0 0 0 rg BT 241.36 89.15 Td (for ) Tj ET Q q 0 0 0 rg BT 254.33 89.15 Td (the ) Tj ET Q q 0 0 0 rg BT 269.31 89.15 Td (amount ) Tj ET Q q 0 0 0 rg BT 301.80 89.15 Td (of ) Tj ET Q q 0 0 0 rg BT 311.77 89.15 Td (the ) Tj ET Q q 0 0 0 rg BT 326.75 89.15 Td (bid ) Tj ET Q q 0 0 0 rg BT 341.23 89.15 Td (bonds ) Tj ET Q q 0 0 0 rg BT 368.22 89.15 Td (if ) Tj ET Q q 0 0 0 rg BT 375.19 89.15 Td (we ) Tj ET Q q 0 0 0 rg BT 389.16 89.15 Td (refuse ) Tj ET Q q 0 0 0 rg BT 416.65 89.15 Td (to ) Tj ET Q q 0 0 0 rg BT 426.62 89.15 Td (perform ) Tj ET Q q 0 0 0 rg BT 460.10 89.15 Td (the ) Tj ET Q q 0 0 0 rg BT 475.08 89.15 Td (project ) Tj ET Q q 0 0 0 rg BT 504.56 89.15 Td (once ) Tj ET Q q 0 0 0 rg BT 526.54 89.15 Td (the ) Tj ET Q q 0 0 0 rg BT 541.52 89.15 Td (bid ) Tj ET Q q 0 0 0 rg BT 556.00 89.15 Td (is ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 75.65 Td (awarded. ) Tj ET Q q 0 0 0 rg BT 111.35 75.65 Td (W) Tj ET Q q 0 0 0 rg BT 119.68 75.65 Td (e ) Tj ET Q q 0 0 0 rg BT 127.01 75.65 Td (would ) Tj ET Q q 0 0 0 rg BT 152.85 75.65 Td (also ) Tj ET Q q 0 0 0 rg BT 171.69 75.65 Td (be ) Tj ET Q q 0 0 0 rg BT 184.03 75.65 Td (liable ) Tj ET Q q 0 0 0 rg BT 207.37 75.65 Td (for ) Tj ET Q q 0 0 0 rg BT 220.19 75.65 Td (the ) Tj ET Q q 0 0 0 rg BT 235.03 75.65 Td (performance ) Tj ET Q q 0 0 0 rg BT 287.88 75.65 Td (bonds ) Tj ET Q q 0 0 0 rg BT 314.73 75.65 Td (in ) Tj ET Q q 0 0 0 rg BT 324.06 75.65 Td (the ) Tj ET Q q 0 0 0 rg BT 338.90 75.65 Td (event ) Tj ET Q q 0 0 0 rg BT 363.24 75.65 Td (of ) Tj ET Q q 0 0 0 rg BT 373.07 75.65 Td (default ) Tj ET Q q 0 0 0 rg BT 402.42 75.65 Td (in ) Tj ET Q q 0 0 0 rg BT 411.75 75.65 Td (the ) Tj ET Q q 0 0 0 rg BT 426.58 75.65 Td (performance ) Tj ET Q q 0 0 0 rg BT 479.43 75.65 Td (of ) Tj ET Q q 0 0 0 rg BT 489.27 75.65 Td (our ) Tj ET Q q 0 0 0 rg BT 504.60 75.65 Td (obligations. ) Tj ET Q q 0 0 0 rg BT 552.00 75.65 Td (As ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 62.15 Td (at ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 81.59 62.15 Td (September30, ) Tj ET Q q 0 0 0 rg BT 142.72 62.15 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 162.74 62.15 Td (, ) Tj ET Q q 0 0 0 rg BT 167.33 62.15 Td (we ) Tj ET Q q 0 0 0 rg BT 180.92 62.15 Td (had ) Tj ET Q q 0 0 0 rg BT 198.03 62.15 Td (committed ) Tj ET Q q 0 0 0 rg BT 241.63 62.15 Td (a ) Tj ET Q q 0 0 0 rg BT 248.72 62.15 Td (total ) Tj ET Q q 0 0 0 rg BT 267.82 62.15 Td (of ) Tj ET Q q 0 0 0 rg BT 277.42 62.15 Td ($30.9 ) Tj ET Q q 0 0 0 rg BT 302.03 62.15 Td (million ) Tj ET Q q 0 0 0 rg BT 329.62 62.15 Td (for ) Tj ET Q q 0 0 0 rg BT 342.22 62.15 Td (these ) Tj ET Q q 0 0 0 rg BT 366.32 62.15 Td (bonds. ) Tj ET Q q 0 0 0 rg BT 395.30 62.15 Td (T) Tj ET Q q 0 0 0 rg BT 399.80 62.15 Td (o ) Tj ET Q q 0 0 0 rg BT 406.89 62.15 Td (the ) Tj ET Q q 0 0 0 rg BT 421.49 62.15 Td (best ) Tj ET Q q 0 0 0 rg BT 440.59 62.15 Td (of ) Tj ET Q q 0 0 0 rg BT 450.19 62.15 Td (our ) Tj ET Q q 0 0 0 rg BT 465.28 62.15 Td (knowledge, ) Tj ET Q q 0 0 0 rg BT 512.90 62.15 Td (we ) Tj ET Q q 0 0 0 rg BT 526.50 62.15 Td (complied ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 48.65 Td (with ) Tj ET Q q 0 0 0 rg BT 90.31 48.65 Td (our ) Tj ET Q q 0 0 0 rg BT 105.62 48.65 Td (performance ) Tj ET Q q 0 0 0 rg BT 158.44 48.65 Td (obligations ) Tj ET Q q 0 0 0 rg BT 203.78 48.65 Td (under ) Tj ET Q q 0 0 0 rg BT 229.10 48.65 Td (all ) Tj ET Q q 0 0 0 rg BT 240.41 48.65 Td (service ) Tj ET Q q 0 0 0 rg BT 271.22 48.65 Td (contracts ) Tj ET Q q 0 0 0 rg BT 310.03 48.65 Td (for ) Tj ET Q q 0 0 0 rg BT 322.84 48.65 Td (which ) Tj ET Q q 0 0 0 rg BT 348.15 48.65 Td (there ) Tj ET Q q 0 0 0 rg BT 370.97 48.65 Td (was ) Tj ET Q q 0 0 0 rg BT 389.28 48.65 Td (a ) Tj ET Q q 0 0 0 rg BT 396.58 48.65 Td (performance ) Tj ET Q q 0 0 0 rg BT 449.41 48.65 Td (or ) Tj ET Q q 0 0 0 rg BT 459.72 48.65 Td (bid ) Tj ET Q q 0 0 0 rg BT 474.03 48.65 Td (bond, ) Tj ET Q q 0 0 0 rg BT 498.85 48.65 Td (and ) Tj ET Q q 0 0 0 rg BT 516.17 48.65 Td (the ) Tj ET Q q 0 0 0 rg BT 530.99 48.65 Td (ultimate ) Tj ET Q endstream endobj 61 0 obj <> endobj 62 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (29) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 708.95 Td (liability) Tj ET Q q 0 0 0 rg BT 98.34 708.95 Td (, ) Tj ET Q q 0 0 0 rg BT 103.52 708.95 Td (if ) Tj ET Q q 0 0 0 rg BT 110.70 708.95 Td (any) Tj ET Q q 0 0 0 rg BT 124.54 708.95 Td (, ) Tj ET Q q 0 0 0 rg BT 129.73 708.95 Td (incurred ) Tj ET Q q 0 0 0 rg BT 164.92 708.95 Td (in ) Tj ET Q q 0 0 0 rg BT 174.61 708.95 Td (connection ) Tj ET Q q 0 0 0 rg BT 220.82 708.95 Td (with ) Tj ET Q q 0 0 0 rg BT 239.50 708.95 Td (these ) Tj ET Q q 0 0 0 rg BT 264.20 708.95 Td (guarantees ) Tj ET Q q 0 0 0 rg BT 311.92 708.95 Td (would ) Tj ET Q q 0 0 0 rg BT 338.11 708.95 Td (not ) Tj ET Q q 0 0 0 rg BT 353.30 708.95 Td (have ) Tj ET Q q 0 0 0 rg BT 375.50 708.95 Td (a ) Tj ET Q q 0 0 0 rg BT 383.18 708.95 Td (materially ) Tj ET Q q 0 0 0 rg BT 424.37 708.95 Td (adverse ) Tj ET Q q 0 0 0 rg BT 459.07 708.95 Td (ef) Tj ET Q q 0 0 0 rg BT 466.42 708.95 Td (fect ) Tj ET Q q 0 0 0 rg BT 483.60 708.95 Td (on ) Tj ET Q q 0 0 0 rg BT 496.29 708.95 Td (our ) Tj ET Q q 0 0 0 rg BT 511.98 708.95 Td (consolidated ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 695.45 Td (results ) Tj ET Q q 0 0 0 rg BT 101.01 695.45 Td (of ) Tj ET Q q 0 0 0 rg BT 111.01 695.45 Td (operations ) Tj ET Q q 0 0 0 rg BT 155.54 695.45 Td (or ) Tj ET Q q 0 0 0 rg BT 166.05 695.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 201.57 695.45 Td (condition.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 72.00 666.65 Td (4.7. ) Tj ET Q q 0 0 0 rg BT 89.51 666.65 Td (CAP) Tj ET Q q 0 0 0 rg BT 107.85 666.65 Td (ABILITY) Tj ET Q q 0 0 0 rg BT 142.68 666.65 Td ( ) Tj ET Q q 0 0 0 rg BT 145.18 666.65 Td (T) Tj ET Q q 0 0 0 rg BT 150.52 666.65 Td (O ) Tj ET Q q 0 0 0 rg BT 160.02 666.65 Td (DELIVER ) Tj ET Q q 0 0 0 rg BT 201.52 666.65 Td (RESUL) Tj ET Q q 0 0 0 rg BT 231.36 666.65 Td (TS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 650.15 Td (Suf) Tj ET Q q 0 0 0 rg BT 85.35 650.15 Td (ficient ) Tj ET Q q 0 0 0 rg BT 110.85 650.15 Td (capital ) Tj ET Q q 0 0 0 rg BT 138.85 650.15 Td (resources ) Tj ET Q q 0 0 0 rg BT 180.36 650.15 Td (and ) Tj ET Q q 0 0 0 rg BT 197.37 650.15 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 229.38 650.15 Td (are ) Tj ET Q q 0 0 0 rg BT 244.37 650.15 Td (required ) Tj ET Q q 0 0 0 rg BT 279.39 650.15 Td (for ) Tj ET Q q 0 0 0 rg BT 291.88 650.15 Td (supporting ) Tj ET Q q 0 0 0 rg BT 335.90 650.15 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 369.92 650.15 Td (business ) Tj ET Q q 0 0 0 rg BT 407.44 650.15 Td (operations ) Tj ET Q q 0 0 0 rg BT 451.46 650.15 Td (and ) Tj ET Q q 0 0 0 rg BT 468.46 650.15 Td (to ) Tj ET Q q 0 0 0 rg BT 477.96 650.15 Td (execute ) Tj ET Q q 0 0 0 rg BT 511.47 650.15 Td (our ) Tj ET Q q 0 0 0 rg BT 526.47 650.15 Td (build ) Tj ET Q q 0 0 0 rg BT 547.48 650.15 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 636.65 Td (buy ) Tj ET Q q 0 0 0 rg BT 89.15 636.65 Td (growth ) Tj ET Q q 0 0 0 rg BT 118.81 636.65 Td (strategy) Tj ET Q q 0 0 0 rg BT 150.15 636.65 Td (. ) Tj ET Q q 0 0 0 rg BT 155.13 636.65 Td (The ) Tj ET Q q 0 0 0 rg BT 173.28 636.65 Td (Company ) Tj ET Q q 0 0 0 rg BT 214.44 636.65 Td (has ) Tj ET Q q 0 0 0 rg BT 231.59 636.65 Td (suf) Tj ET Q q 0 0 0 rg BT 243.43 636.65 Td (ficient ) Tj ET Q q 0 0 0 rg BT 269.58 636.65 Td (capital ) Tj ET Q q 0 0 0 rg BT 298.24 636.65 Td (resources ) Tj ET Q q 0 0 0 rg BT 340.40 636.65 Td (coming ) Tj ET Q q 0 0 0 rg BT 372.05 636.65 Td (from ) Tj ET Q q 0 0 0 rg BT 392.70 636.65 Td (the ) Tj ET Q q 0 0 0 rg BT 407.85 636.65 Td (cash ) Tj ET Q q 0 0 0 rg BT 429.50 636.65 Td (generated ) Tj ET Q q 0 0 0 rg BT 472.68 636.65 Td (from ) Tj ET Q q 0 0 0 rg BT 493.32 636.65 Td (operations, ) Tj ET Q q 0 0 0 rg BT 540.49 636.65 Td (credit ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 623.15 Td (facilities, ) Tj ET Q q 0 0 0 rg BT 108.53 623.15 Td (long-term ) Tj ET Q q 0 0 0 rg BT 148.55 623.15 Td (debt ) Tj ET Q q 0 0 0 rg BT 168.09 623.15 Td (agreements ) Tj ET Q q 0 0 0 rg BT 217.63 623.15 Td (and ) Tj ET Q q 0 0 0 rg BT 234.66 623.15 Td (invested ) Tj ET Q q 0 0 0 rg BT 270.20 623.15 Td (capital ) Tj ET Q q 0 0 0 rg BT 298.23 623.15 Td (from ) Tj ET Q q 0 0 0 rg BT 318.24 623.15 Td (shareholders. ) Tj ET Q q 0 0 0 rg BT 374.79 623.15 Td (Our ) Tj ET Q q 0 0 0 rg BT 391.81 623.15 Td (principal ) Tj ET Q q 0 0 0 rg BT 427.34 623.15 Td (uses ) Tj ET Q q 0 0 0 rg BT 448.37 623.15 Td (of ) Tj ET Q q 0 0 0 rg BT 457.89 623.15 Td (cash ) Tj ET Q q 0 0 0 rg BT 478.92 623.15 Td (are ) Tj ET Q q 0 0 0 rg BT 493.94 623.15 Td (for ) Tj ET Q q 0 0 0 rg BT 506.46 623.15 Td (procuring ) Tj ET Q q 0 0 0 rg BT 546.00 623.15 Td (new ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 609.65 Td (large ) Tj ET Q q 0 0 0 rg BT 93.71 609.65 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 141.93 609.65 Td (and ) Tj ET Q q 0 0 0 rg BT 158.65 609.65 Td (managed ) Tj ET Q q 0 0 0 rg BT 197.87 609.65 Td (services ) Tj ET Q q 0 0 0 rg BT 232.57 609.65 Td (contracts; ) Tj ET Q q 0 0 0 rg BT 273.28 609.65 Td (investing ) Tj ET Q q 0 0 0 rg BT 310.50 609.65 Td (in ) Tj ET Q q 0 0 0 rg BT 319.20 609.65 Td (our ) Tj ET Q q 0 0 0 rg BT 333.91 609.65 Td (business ) Tj ET Q q 0 0 0 rg BT 371.12 609.65 Td (solutions; ) Tj ET Q q 0 0 0 rg BT 410.84 609.65 Td (pursuing ) Tj ET Q q 0 0 0 rg BT 447.06 609.65 Td (accretive ) Tj ET Q q 0 0 0 rg BT 484.77 609.65 Td (acquisitions; ) Tj ET Q q 0 0 0 rg BT 535.99 609.65 Td (buying ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 596.15 Td (back ) Tj ET Q q 0 0 0 rg BT 93.23 596.15 Td (CGI ) Tj ET Q q 0 0 0 rg BT 111.44 596.15 Td (shares ) Tj ET Q q 0 0 0 rg BT 140.67 596.15 Td (and ) Tj ET Q q 0 0 0 rg BT 157.90 596.15 Td (paying ) Tj ET Q q 0 0 0 rg BT 186.64 596.15 Td (down ) Tj ET Q q 0 0 0 rg BT 210.37 596.15 Td (debt. ) Tj ET Q q 0 0 0 rg BT 232.60 596.15 Td (Funds ) Tj ET Q q 0 0 0 rg BT 259.83 596.15 Td (are ) Tj ET Q q 0 0 0 rg BT 275.05 596.15 Td (also ) Tj ET Q q 0 0 0 rg BT 293.77 596.15 Td (used ) Tj ET Q q 0 0 0 rg BT 315.51 596.15 Td (to ) Tj ET Q q 0 0 0 rg BT 325.23 596.15 Td (expand ) Tj ET Q q 0 0 0 rg BT 356.97 596.15 Td (our ) Tj ET Q q 0 0 0 rg BT 372.19 596.15 Td (global ) Tj ET Q q 0 0 0 rg BT 398.43 596.15 Td (delivery ) Tj ET Q q 0 0 0 rg BT 431.65 596.15 Td (network ) Tj ET Q q 0 0 0 rg BT 465.38 596.15 Td (as ) Tj ET Q q 0 0 0 rg BT 477.10 596.15 Td (more ) Tj ET Q q 0 0 0 rg BT 499.82 596.15 Td (and ) Tj ET Q q 0 0 0 rg BT 517.05 596.15 Td (more ) Tj ET Q q 0 0 0 rg BT 539.77 596.15 Td (of ) Tj ET Q q 0 0 0 rg BT 549.49 596.15 Td (our ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 582.65 Td (clients ) Tj ET Q q 0 0 0 rg BT 99.25 582.65 Td (demand ) Tj ET Q q 0 0 0 rg BT 133.51 582.65 Td (lower ) Tj ET Q q 0 0 0 rg BT 156.75 582.65 Td (cost ) Tj ET Q q 0 0 0 rg BT 174.99 582.65 Td (alternatives. ) Tj ET Q q 0 0 0 rg BT 225.25 582.65 Td (In ) Tj ET Q q 0 0 0 rg BT 234.50 582.65 Td (terms ) Tj ET Q q 0 0 0 rg BT 258.73 582.65 Td (of ) Tj ET Q q 0 0 0 rg BT 267.97 582.65 Td (financing, ) Tj ET Q q 0 0 0 rg BT 308.24 582.65 Td (we ) Tj ET Q q 0 0 0 rg BT 321.48 582.65 Td (are ) Tj ET Q q 0 0 0 rg BT 336.22 582.65 Td (well ) Tj ET Q q 0 0 0 rg BT 353.46 582.65 Td (positioned ) Tj ET Q q 0 0 0 rg BT 396.23 582.65 Td (to ) Tj ET Q q 0 0 0 rg BT 405.47 582.65 Td (continue ) Tj ET Q q 0 0 0 rg BT 441.24 582.65 Td (executing ) Tj ET Q q 0 0 0 rg BT 481.50 582.65 Td (our ) Tj ET Q q 0 0 0 rg BT 496.24 582.65 Td (four-pillar ) Tj ET Q q 0 0 0 rg BT 535.49 582.65 Td (growth ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 569.15 Td (strategy ) Tj ET Q q 0 0 0 rg BT 106.51 569.15 Td (in ) Tj ET Q q 0 0 0 rg BT 116.02 569.15 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 139.03 569.15 Td (2017.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 549.65 Td (Strong ) Tj ET Q q 0 0 0 rg BT 100.09 549.65 Td (and ) Tj ET Q q 0 0 0 rg BT 116.68 549.65 Td (experienced ) Tj ET Q q 0 0 0 rg BT 167.29 549.65 Td (leadership ) Tj ET Q q 0 0 0 rg BT 210.40 549.65 Td (is ) Tj ET Q q 0 0 0 rg BT 218.47 549.65 Td (essential ) Tj ET Q q 0 0 0 rg BT 255.57 549.65 Td (to ) Tj ET Q q 0 0 0 rg BT 264.65 549.65 Td (successfully ) Tj ET Q q 0 0 0 rg BT 314.74 549.65 Td (implement ) Tj ET Q q 0 0 0 rg BT 357.83 549.65 Td (our ) Tj ET Q q 0 0 0 rg BT 372.41 549.65 Td (Company's ) Tj ET Q q 0 0 0 rg BT 418.72 549.65 Td (strategy) Tj ET Q q 0 0 0 rg BT 450.07 549.65 Td (. ) Tj ET Q q 0 0 0 rg BT 454.15 549.65 Td (CGI ) Tj ET Q q 0 0 0 rg BT 471.72 549.65 Td (has ) Tj ET Q q 0 0 0 rg BT 487.81 549.65 Td (a ) Tj ET Q q 0 0 0 rg BT 494.39 549.65 Td (strong ) Tj ET Q q 0 0 0 rg BT 520.98 549.65 Td (leadership ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 536.15 Td (team ) Tj ET Q q 0 0 0 rg BT 94.28 536.15 Td (with ) Tj ET Q q 0 0 0 rg BT 112.56 536.15 Td (members ) Tj ET Q q 0 0 0 rg BT 152.34 536.15 Td (who ) Tj ET Q q 0 0 0 rg BT 171.12 536.15 Td (are ) Tj ET Q q 0 0 0 rg BT 186.40 536.15 Td (highly ) Tj ET Q q 0 0 0 rg BT 212.19 536.15 Td (knowledgeable ) Tj ET Q q 0 0 0 rg BT 274.50 536.15 Td (and ) Tj ET Q q 0 0 0 rg BT 291.79 536.15 Td (have ) Tj ET Q q 0 0 0 rg BT 313.58 536.15 Td (gained ) Tj ET Q q 0 0 0 rg BT 342.88 536.15 Td (a ) Tj ET Q q 0 0 0 rg BT 350.16 536.15 Td (significant ) Tj ET Q q 0 0 0 rg BT 392.45 536.15 Td (amount ) Tj ET Q q 0 0 0 rg BT 424.74 536.15 Td (of ) Tj ET Q q 0 0 0 rg BT 434.52 536.15 Td (experience ) Tj ET Q q 0 0 0 rg BT 480.82 536.15 Td (within ) Tj ET Q q 0 0 0 rg BT 506.10 536.15 Td (the ) Tj ET Q q 0 0 0 rg BT 520.88 536.15 Td (IT) Tj ET Q q 0 0 0 rg BT 528.72 536.15 Td ( ) Tj ET Q q 0 0 0 rg BT 530.99 536.15 Td (industry ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 522.65 Td (via ) Tj ET Q q 0 0 0 rg BT 85.72 522.65 Td (various ) Tj ET Q q 0 0 0 rg BT 116.96 522.65 Td (career ) Tj ET Q q 0 0 0 rg BT 144.69 522.65 Td (paths ) Tj ET Q q 0 0 0 rg BT 168.92 522.65 Td (and ) Tj ET Q q 0 0 0 rg BT 186.16 522.65 Td (leadership ) Tj ET Q q 0 0 0 rg BT 229.91 522.65 Td (roles. ) Tj ET Q q 0 0 0 rg BT 254.13 522.65 Td (CGI ) Tj ET Q q 0 0 0 rg BT 272.35 522.65 Td (fosters ) Tj ET Q q 0 0 0 rg BT 301.58 522.65 Td (leadership ) Tj ET Q q 0 0 0 rg BT 345.33 522.65 Td (development ) Tj ET Q q 0 0 0 rg BT 399.09 522.65 Td (to ) Tj ET Q q 0 0 0 rg BT 408.81 522.65 Td (ensure ) Tj ET Q q 0 0 0 rg BT 438.55 522.65 Td (a ) Tj ET Q q 0 0 0 rg BT 445.77 522.65 Td (continuous ) Tj ET Q q 0 0 0 rg BT 491.53 522.65 Td (flow ) Tj ET Q q 0 0 0 rg BT 509.75 522.65 Td (of ) Tj ET Q q 0 0 0 rg BT 519.48 522.65 Td (knowledge ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 509.15 Td (and ) Tj ET Q q 0 0 0 rg BT 89.65 509.15 Td (strength ) Tj ET Q q 0 0 0 rg BT 124.80 509.15 Td (is ) Tj ET Q q 0 0 0 rg BT 133.93 509.15 Td (maintained ) Tj ET Q q 0 0 0 rg BT 180.59 509.15 Td (throughout ) Tj ET Q q 0 0 0 rg BT 226.26 509.15 Td (the ) Tj ET Q q 0 0 0 rg BT 241.40 509.15 Td (organization. ) Tj ET Q q 0 0 0 rg BT 295.04 509.15 Td (As ) Tj ET Q q 0 0 0 rg BT 308.18 509.15 Td (part ) Tj ET Q q 0 0 0 rg BT 326.32 509.15 Td (of ) Tj ET Q q 0 0 0 rg BT 336.45 509.15 Td (our ) Tj ET Q q 0 0 0 rg BT 352.09 509.15 Td (succession ) Tj ET Q q 0 0 0 rg BT 399.24 509.15 Td (planning ) Tj ET Q q 0 0 0 rg BT 435.91 509.15 Td (in ) Tj ET Q q 0 0 0 rg BT 445.54 509.15 Td (key ) Tj ET Q q 0 0 0 rg BT 462.18 509.15 Td (positions, ) Tj ET Q q 0 0 0 rg BT 502.83 509.15 Td (we ) Tj ET Q q 0 0 0 rg BT 516.97 509.15 Td (established ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 495.65 Td (the ) Tj ET Q q 0 0 0 rg BT 86.45 495.65 Td (Leadership ) Tj ET Q q 0 0 0 rg BT 132.93 495.65 Td (Institute, ) Tj ET Q q 0 0 0 rg BT 168.89 495.65 Td (our ) Tj ET Q q 0 0 0 rg BT 183.84 495.65 Td (own ) Tj ET Q q 0 0 0 rg BT 202.29 495.65 Td (corporate ) Tj ET Q q 0 0 0 rg BT 242.26 495.65 Td (university) Tj ET Q q 0 0 0 rg BT 279.60 495.65 Td (, ) Tj ET Q q 0 0 0 rg BT 284.04 495.65 Td (to ) Tj ET Q q 0 0 0 rg BT 293.49 495.65 Td (develop ) Tj ET Q q 0 0 0 rg BT 326.96 495.65 Td (leadership, ) Tj ET Q q 0 0 0 rg BT 372.93 495.65 Td (technical ) Tj ET Q q 0 0 0 rg BT 410.40 495.65 Td (and ) Tj ET Q q 0 0 0 rg BT 427.35 495.65 Td (managerial ) Tj ET Q q 0 0 0 rg BT 473.82 495.65 Td (skills ) Tj ET Q q 0 0 0 rg BT 495.26 495.65 Td (inspired ) Tj ET Q q 0 0 0 rg BT 528.72 495.65 Td (by ) Tj ET Q q 0 0 0 rg BT 540.17 495.65 Td (CGI) Tj ET Q q 0 0 0 rg BT 558.01 495.65 Td (s ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 482.15 Td (roots ) Tj ET Q q 0 0 0 rg BT 94.51 482.15 Td (and ) Tj ET Q q 0 0 0 rg BT 112.03 482.15 Td (traditions.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 462.65 Td (As ) Tj ET Q q 0 0 0 rg BT 85.28 462.65 Td (a ) Tj ET Q q 0 0 0 rg BT 93.06 462.65 Td (Company ) Tj ET Q q 0 0 0 rg BT 134.36 462.65 Td (built ) Tj ET Q q 0 0 0 rg BT 153.64 462.65 Td (on ) Tj ET Q q 0 0 0 rg BT 166.43 462.65 Td (human ) Tj ET Q q 0 0 0 rg BT 196.72 462.65 Td (capital, ) Tj ET Q q 0 0 0 rg BT 228.02 462.65 Td (our ) Tj ET Q q 0 0 0 rg BT 243.80 462.65 Td (professionals ) Tj ET Q q 0 0 0 rg BT 299.61 462.65 Td (and ) Tj ET Q q 0 0 0 rg BT 317.40 462.65 Td (their ) Tj ET Q q 0 0 0 rg BT 337.68 462.65 Td (knowledge ) Tj ET Q q 0 0 0 rg BT 383.49 462.65 Td (are ) Tj ET Q q 0 0 0 rg BT 399.27 462.65 Td (critical ) Tj ET Q q 0 0 0 rg BT 427.55 462.65 Td (to ) Tj ET Q q 0 0 0 rg BT 437.83 462.65 Td (delivering ) Tj ET Q q 0 0 0 rg BT 479.13 462.65 Td (quality ) Tj ET Q q 0 0 0 rg BT 507.93 462.65 Td (service ) Tj ET Q q 0 0 0 rg BT 539.21 462.65 Td (to ) Tj ET Q q 0 0 0 rg BT 549.49 462.65 Td (our ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 449.15 Td (clients. ) Tj ET Q q 0 0 0 rg BT 102.49 449.15 Td (Our ) Tj ET Q q 0 0 0 rg BT 119.98 449.15 Td (human ) Tj ET Q q 0 0 0 rg BT 149.98 449.15 Td (resources ) Tj ET Q q 0 0 0 rg BT 191.97 449.15 Td (program ) Tj ET Q q 0 0 0 rg BT 227.97 449.15 Td (provides ) Tj ET Q q 0 0 0 rg BT 264.46 449.15 Td (competitive ) Tj ET Q q 0 0 0 rg BT 312.46 449.15 Td (compensation ) Tj ET Q q 0 0 0 rg BT 370.98 449.15 Td (and ) Tj ET Q q 0 0 0 rg BT 388.48 449.15 Td (benefits, ) Tj ET Q q 0 0 0 rg BT 424.98 449.15 Td (a ) Tj ET Q q 0 0 0 rg BT 432.47 449.15 Td (favourable ) Tj ET Q q 0 0 0 rg BT 476.98 449.15 Td (working ) Tj ET Q q 0 0 0 rg BT 510.47 449.15 Td (environment, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 435.65 Td (and ) Tj ET Q q 0 0 0 rg BT 90.75 435.65 Td (our ) Tj ET Q q 0 0 0 rg BT 107.50 435.65 Td (training ) Tj ET Q q 0 0 0 rg BT 140.75 435.65 Td (and ) Tj ET Q q 0 0 0 rg BT 159.50 435.65 Td (career ) Tj ET Q q 0 0 0 rg BT 188.75 435.65 Td (development ) Tj ET Q q 0 0 0 rg BT 244.02 435.65 Td (programs ) Tj ET Q q 0 0 0 rg BT 285.77 435.65 Td (combine ) Tj ET Q q 0 0 0 rg BT 323.52 435.65 Td (to ) Tj ET Q q 0 0 0 rg BT 334.76 435.65 Td (allow ) Tj ET Q q 0 0 0 rg BT 359.01 435.65 Td (us ) Tj ET Q q 0 0 0 rg BT 372.25 435.65 Td (to ) Tj ET Q q 0 0 0 rg BT 383.49 435.65 Td (attract ) Tj ET Q q 0 0 0 rg BT 412.24 435.65 Td (and ) Tj ET Q q 0 0 0 rg BT 430.99 435.65 Td (retain ) Tj ET Q q 0 0 0 rg BT 457.24 435.65 Td (the ) Tj ET Q q 0 0 0 rg BT 473.48 435.65 Td (best ) Tj ET Q q 0 0 0 rg BT 494.23 435.65 Td (talent. ) Tj ET Q q 0 0 0 rg BT 522.48 435.65 Td (Employee ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 422.15 Td (satisfaction ) Tj ET Q q 0 0 0 rg BT 119.27 422.15 Td (is ) Tj ET Q q 0 0 0 rg BT 128.01 422.15 Td (monitored ) Tj ET Q q 0 0 0 rg BT 170.28 422.15 Td (regularly ) Tj ET Q q 0 0 0 rg BT 207.04 422.15 Td (through ) Tj ET Q q 0 0 0 rg BT 239.81 422.15 Td (a ) Tj ET Q q 0 0 0 rg BT 247.07 422.15 Td (Company-wide ) Tj ET Q q 0 0 0 rg BT 309.34 422.15 Td (survey) Tj ET Q q 0 0 0 rg BT 335.18 422.15 Td (. ) Tj ET Q q 0 0 0 rg BT 339.92 422.15 Td (Furthermore, ) Tj ET Q q 0 0 0 rg BT 394.19 422.15 Td (approximately ) Tj ET Q q 0 0 0 rg BT 452.46 422.15 Td (52,000 ) Tj ET Q q 0 0 0 rg BT 482.23 422.15 Td (of ) Tj ET Q q 0 0 0 rg BT 491.98 422.15 Td (our ) Tj ET Q q 0 0 0 rg BT 507.24 422.15 Td (members, ) Tj ET Q q 0 0 0 rg BT 549.49 422.15 Td (are ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 408.65 Td (also ) Tj ET Q q 0 0 0 rg BT 90.70 408.65 Td (owners ) Tj ET Q q 0 0 0 rg BT 121.90 408.65 Td (of ) Tj ET Q q 0 0 0 rg BT 131.60 408.65 Td (CGI ) Tj ET Q q 0 0 0 rg BT 149.79 408.65 Td (through ) Tj ET Q q 0 0 0 rg BT 182.50 408.65 Td (our ) Tj ET Q q 0 0 0 rg BT 197.70 408.65 Td (Share ) Tj ET Q q 0 0 0 rg BT 223.90 408.65 Td (Purchase ) Tj ET Q q 0 0 0 rg BT 264.11 408.65 Td (Plan. ) Tj ET Q q 0 0 0 rg BT 286.67 408.65 Td (The ) Tj ET Q q 0 0 0 rg BT 304.37 408.65 Td (Share ) Tj ET Q q 0 0 0 rg BT 330.57 408.65 Td (Purchase ) Tj ET Q q 0 0 0 rg BT 370.78 408.65 Td (Plan, ) Tj ET Q q 0 0 0 rg BT 393.49 408.65 Td (along ) Tj ET Q q 0 0 0 rg BT 417.70 408.65 Td (with ) Tj ET Q q 0 0 0 rg BT 435.89 408.65 Td (the ) Tj ET Q q 0 0 0 rg BT 450.59 408.65 Td (Profit ) Tj ET Q q 0 0 0 rg BT 473.79 408.65 Td (Participation ) Tj ET Q q 0 0 0 rg BT 525.50 408.65 Td (Program, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 395.15 Td (allows ) Tj ET Q q 0 0 0 rg BT 99.51 395.15 Td (members ) Tj ET Q q 0 0 0 rg BT 139.52 395.15 Td (to ) Tj ET Q q 0 0 0 rg BT 149.52 395.15 Td (share ) Tj ET Q q 0 0 0 rg BT 174.54 395.15 Td (in ) Tj ET Q q 0 0 0 rg BT 184.04 395.15 Td (the ) Tj ET Q q 0 0 0 rg BT 199.05 395.15 Td (success ) Tj ET Q q 0 0 0 rg BT 234.07 395.15 Td (of ) Tj ET Q q 0 0 0 rg BT 244.07 395.15 Td (the ) Tj ET Q q 0 0 0 rg BT 259.08 395.15 Td (Company ) Tj ET Q q 0 0 0 rg BT 300.10 395.15 Td (and ) Tj ET Q q 0 0 0 rg BT 317.62 395.15 Td (aligns ) Tj ET Q q 0 0 0 rg BT 343.63 395.15 Td (member ) Tj ET Q q 0 0 0 rg BT 379.14 395.15 Td (objectives ) Tj ET Q q 0 0 0 rg BT 421.66 395.15 Td (with ) Tj ET Q q 0 0 0 rg BT 440.17 395.15 Td (our ) Tj ET Q q 0 0 0 rg BT 455.68 395.15 Td (strategic ) Tj ET Q q 0 0 0 rg BT 492.19 395.15 Td (goals.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 375.65 Td (In ) Tj ET Q q 0 0 0 rg BT 82.88 375.65 Td (addition ) Tj ET Q q 0 0 0 rg BT 117.78 375.65 Td (to ) Tj ET Q q 0 0 0 rg BT 128.66 375.65 Td (our ) Tj ET Q q 0 0 0 rg BT 145.04 375.65 Td (capital ) Tj ET Q q 0 0 0 rg BT 174.43 375.65 Td (resources ) Tj ET Q q 0 0 0 rg BT 217.32 375.65 Td (and ) Tj ET Q q 0 0 0 rg BT 235.71 375.65 Td (the ) Tj ET Q q 0 0 0 rg BT 251.59 375.65 Td (talent ) Tj ET Q q 0 0 0 rg BT 276.98 375.65 Td (of ) Tj ET Q q 0 0 0 rg BT 287.86 375.65 Td (our ) Tj ET Q q 0 0 0 rg BT 304.24 375.65 Td (human ) Tj ET Q q 0 0 0 rg BT 335.14 375.65 Td (capital, ) Tj ET Q q 0 0 0 rg BT 367.03 375.65 Td (CGI ) Tj ET Q q 0 0 0 rg BT 386.40 375.65 Td (has ) Tj ET Q q 0 0 0 rg BT 404.28 375.65 Td (established ) Tj ET Q q 0 0 0 rg BT 453.19 375.65 Td (a ) Tj ET Q q 0 0 0 rg BT 461.57 375.65 Td (Management ) Tj ET Q q 0 0 0 rg BT 517.47 375.65 Td (Foundation ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 362.15 Td (encompassing ) Tj ET Q q 0 0 0 rg BT 131.71 362.15 Td (governance ) Tj ET Q q 0 0 0 rg BT 180.41 362.15 Td (policies, ) Tj ET Q q 0 0 0 rg BT 214.60 362.15 Td (sophisticated ) Tj ET Q q 0 0 0 rg BT 268.80 362.15 Td (management ) Tj ET Q q 0 0 0 rg BT 323.01 362.15 Td (frameworks ) Tj ET Q q 0 0 0 rg BT 371.18 362.15 Td (and ) Tj ET Q q 0 0 0 rg BT 387.87 362.15 Td (an ) Tj ET Q q 0 0 0 rg BT 399.55 362.15 Td (organizational ) Tj ET Q q 0 0 0 rg BT 457.26 362.15 Td (model ) Tj ET Q q 0 0 0 rg BT 483.45 362.15 Td (for ) Tj ET Q q 0 0 0 rg BT 495.62 362.15 Td (its ) Tj ET Q q 0 0 0 rg BT 506.29 362.15 Td (business ) Tj ET Q q 0 0 0 rg BT 543.49 362.15 Td (units ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 348.65 Td (and ) Tj ET Q q 0 0 0 rg BT 89.64 348.65 Td (corporate ) Tj ET Q q 0 0 0 rg BT 130.29 348.65 Td (processes.) Tj ET Q q 0 0 0 rg BT 176.15 348.65 Td (This ) Tj ET Q q 0 0 0 rg BT 195.78 348.65 Td (foundation, ) Tj ET Q q 0 0 0 rg BT 242.94 348.65 Td (along ) Tj ET Q q 0 0 0 rg BT 267.59 348.65 Td (with ) Tj ET Q q 0 0 0 rg BT 286.22 348.65 Td (our ) Tj ET Q q 0 0 0 rg BT 301.85 348.65 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 350.01 348.65 Td (internal ) Tj ET Q q 0 0 0 rg BT 382.16 348.65 Td (systems, ) Tj ET Q q 0 0 0 rg BT 420.29 348.65 Td (helps ) Tj ET Q q 0 0 0 rg BT 444.43 348.65 Td (in ) Tj ET Q q 0 0 0 rg BT 454.06 348.65 Td (providing ) Tj ET Q q 0 0 0 rg BT 493.21 348.65 Td (a ) Tj ET Q q 0 0 0 rg BT 500.84 348.65 Td (disciplined ) Tj ET Q q 0 0 0 rg BT 545.49 348.65 Td (high ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 335.15 Td (standard ) Tj ET Q q 0 0 0 rg BT 108.74 335.15 Td (of ) Tj ET Q q 0 0 0 rg BT 117.96 335.15 Td (quality ) Tj ET Q q 0 0 0 rg BT 145.70 335.15 Td (service ) Tj ET Q q 0 0 0 rg BT 175.92 335.15 Td (to ) Tj ET Q q 0 0 0 rg BT 185.14 335.15 Td (our ) Tj ET Q q 0 0 0 rg BT 199.87 335.15 Td (clients ) Tj ET Q q 0 0 0 rg BT 227.09 335.15 Td (across ) Tj ET Q q 0 0 0 rg BT 255.32 335.15 Td (all ) Tj ET Q q 0 0 0 rg BT 266.04 335.15 Td (of ) Tj ET Q q 0 0 0 rg BT 275.26 335.15 Td (our ) Tj ET Q q 0 0 0 rg BT 289.99 335.15 Td (operations, ) Tj ET Q q 0 0 0 rg BT 336.23 335.15 Td (and ) Tj ET Q q 0 0 0 rg BT 352.97 335.15 Td (additional ) Tj ET Q q 0 0 0 rg BT 393.22 335.15 Td (value ) Tj ET Q q 0 0 0 rg BT 416.45 335.15 Td (to ) Tj ET Q q 0 0 0 rg BT 425.67 335.15 Td (our ) Tj ET Q q 0 0 0 rg BT 440.40 335.15 Td (stakeholders.CGI) Tj ET Q q 0 0 0 rg BT 514.26 335.15 Td (s ) Tj ET Q q 0 0 0 rg BT 520.48 335.15 Td (operations ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 321.65 Td (maintain ) Tj ET Q q 0 0 0 rg BT 107.94 321.65 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 155.39 321.65 Td (certifications ) Tj ET Q q 0 0 0 rg BT 207.33 321.65 Td (in ) Tj ET Q q 0 0 0 rg BT 216.25 321.65 Td (accordance ) Tj ET Q q 0 0 0 rg BT 264.70 321.65 Td (with ) Tj ET Q q 0 0 0 rg BT 282.62 321.65 Td (service ) Tj ET Q q 0 0 0 rg BT 313.05 321.65 Td (requirements ) Tj ET Q q 0 0 0 rg BT 367.49 321.65 Td (such ) Tj ET Q q 0 0 0 rg BT 388.42 321.65 Td (as ) Tj ET Q q 0 0 0 rg BT 399.85 321.65 Td (the ) Tj ET Q q 0 0 0 rg BT 414.28 321.65 Td (ISO ) Tj ET Q q 0 0 0 rg BT 431.70 321.65 Td (and ) Tj ET Q q 0 0 0 rg BT 448.64 321.65 Td (CMMI ) Tj ET Q q 0 0 0 rg BT 474.55 321.65 Td (certification ) Tj ET Q q 0 0 0 rg BT 521.99 321.65 Td (programs.) Tj ET Q endstream endobj 63 0 obj <> endobj 64 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (30) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 49.50 706.80 Td (5. ) Tj ET Q q 0 0 0 rg BT 85.50 706.80 Td (Fourth Quarter Results) Tj ET Q 0 0 0 RG /GS0 gs 1.50 w 0 i [] 0 d 0 J 0 j 3 M 57.5 696.3 m 57.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 692.3 m 57.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 57.5 692.3 m 142.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 142.5 692.3 m 228.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 228.5 692.3 m 337.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 692.3 m 475.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 692.3 m 561.5 692.3 l s 0 0 0 RG /GS0 gs 1.50 w 0 i [] 0 d 0 J 0 j 3 M 57.5 692.3 m 57.5 688.3 l s BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 667.00 Td (5.1. FOREIGN EXCHANGE) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 650.50 Td (The ) Tj ET Q q 0 0 0 rg BT 89.67 650.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 130.34 650.50 Td (operates ) Tj ET Q q 0 0 0 rg BT 167.53 650.50 Td (globally ) Tj ET Q q 0 0 0 rg BT 200.21 650.50 Td (and ) Tj ET Q q 0 0 0 rg BT 217.38 650.50 Td (is ) Tj ET Q q 0 0 0 rg BT 226.04 650.50 Td (exposed ) Tj ET Q q 0 0 0 rg BT 262.22 650.50 Td (to ) Tj ET Q q 0 0 0 rg BT 271.89 650.50 Td (changes ) Tj ET Q q 0 0 0 rg BT 308.07 650.50 Td (in ) Tj ET Q q 0 0 0 rg BT 317.24 650.50 Td (foreign ) Tj ET Q q 0 0 0 rg BT 346.92 650.50 Td (currency ) Tj ET Q q 0 0 0 rg BT 383.58 650.50 Td (rates. ) Tj ET Q q 0 0 0 rg BT 407.82 650.50 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 453.68 650.50 Td (, ) Tj ET Q q 0 0 0 rg BT 458.33 650.50 Td (as ) Tj ET Q q 0 0 0 rg BT 470.00 650.50 Td (prescribed ) Tj ET Q q 0 0 0 rg BT 514.18 650.50 Td (by ) Tj ET Q q 0 0 0 rg BT 525.84 650.50 Td (IFRS, ) Tj ET Q q 0 0 0 rg BT 551.00 650.50 Td (we ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 637.00 Td (value ) Tj ET Q q 0 0 0 rg BT 95.92 637.00 Td (assets, ) Tj ET Q q 0 0 0 rg BT 126.84 637.00 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 163.26 637.00 Td (and ) Tj ET Q q 0 0 0 rg BT 180.69 637.00 Td (transactions ) Tj ET Q q 0 0 0 rg BT 231.62 637.00 Td (that ) Tj ET Q q 0 0 0 rg BT 249.04 637.00 Td (are ) Tj ET Q q 0 0 0 rg BT 264.46 637.00 Td (measured ) Tj ET Q q 0 0 0 rg BT 306.88 637.00 Td (in ) Tj ET Q q 0 0 0 rg BT 316.30 637.00 Td (foreign ) Tj ET Q q 0 0 0 rg BT 346.22 637.00 Td (currencies ) Tj ET Q q 0 0 0 rg BT 390.15 637.00 Td (using ) Tj ET Q q 0 0 0 rg BT 414.07 637.00 Td (various ) Tj ET Q q 0 0 0 rg BT 445.49 637.00 Td (exchange ) Tj ET Q q 0 0 0 rg BT 486.93 637.00 Td (rates. ) Tj ET Q q 0 0 0 rg BT 511.85 637.00 Td (W) Tj ET Q q 0 0 0 rg BT 520.18 637.00 Td (e ) Tj ET Q q 0 0 0 rg BT 527.59 637.00 Td (report ) Tj ET Q q 0 0 0 rg BT 553.51 637.00 Td (all ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 623.50 Td (dollar ) Tj ET Q q 0 0 0 rg BT 96.51 623.50 Td (amounts ) Tj ET Q q 0 0 0 rg BT 133.53 623.50 Td (in ) Tj ET Q q 0 0 0 rg BT 143.04 623.50 Td (Canadian ) Tj ET Q q 0 0 0 rg BT 184.07 623.50 Td (dollars.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 73.50 598.70 Td (A) Tj ET Q q 0 0 0 rg BT 79.34 598.70 Td (verage foreign exchange rates) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 72.50 588.20 310.00 -24.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 382.50 588.20 60.00 -24.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 442.50 588.20 60.00 -24.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 502.50 588.20 60.00 -24.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 382.50 564.20 60.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 382.50 551.20 60.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 382.50 538.20 60.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 382.50 525.20 60.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 382.50 512.20 60.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 382.50 499.20 60.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 588.2 m 382.5 588.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 382.5 588.2 m 442.5 588.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 588.2 m 502.5 588.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 502.5 588.2 m 562.5 588.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 486.2 m 382.5 486.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 382.5 486.2 m 442.5 486.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 486.2 m 502.5 486.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 502.5 486.2 m 562.5 486.2 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 75.00 568.43 Td (For the three months ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 415.20 568.43 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 475.20 568.43 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 523.65 568.43 Td (Change) Tj ET Q BT /F3 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 75.00 555.43 Td (U.S. dollar) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.80 555.48 Td (1.3054) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 468.80 555.48 Td (1.3095) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.40 555.43 Td (\(0.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 555.43 Td (%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 542.43 Td (Euro) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.80 542.48 Td (1.4570) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 468.80 542.48 Td (1.4565) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 535.05 542.43 Td (0.0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 542.43 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 529.43 Td (Indian rupee) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.80 529.48 Td (0.0195) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 468.80 529.48 Td (0.0202) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.40 529.43 Td (\(3.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 529.43 Td (%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 516.43 Td (British pound) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.80 516.48 Td (1.7135) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 468.80 516.48 Td (2.0285) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.95 516.43 Td (\(15.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 516.43 Td (%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 503.43 Td (Swedish krona) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.80 503.48 Td (0.1532) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 468.80 503.48 Td (0.1544) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.40 503.43 Td (\(0.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 503.43 Td (%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 490.43 Td (Australian dollar) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.80 490.48 Td (0.9901) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 468.80 490.48 Td (0.9494) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 535.05 490.43 Td (4.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 490.43 Td (%) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 65 0 obj <> endobj 66 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (31) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (5.2. REVENUE V) Tj ET Q q 0 0 0 rg BT 142.36 708.95 Td (ARIA) Tj ET Q q 0 0 0 rg BT 163.69 708.95 Td (TION ) Tj ET Q q 0 0 0 rg BT 187.35 708.95 Td (AND REVENUE BY) Tj ET Q q 0 0 0 rg BT 267.70 708.95 Td ( SEGMENT) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 692.45 Td (The ) Tj ET Q q 0 0 0 rg BT 90.27 692.45 Td (following ) Tj ET Q q 0 0 0 rg BT 128.06 692.45 Td (table ) Tj ET Q q 0 0 0 rg BT 150.34 692.45 Td (provides ) Tj ET Q q 0 0 0 rg BT 187.12 692.45 Td (a ) Tj ET Q q 0 0 0 rg BT 194.89 692.45 Td (summary ) Tj ET Q q 0 0 0 rg BT 234.65 692.45 Td (of ) Tj ET Q q 0 0 0 rg BT 244.92 692.45 Td (the ) Tj ET Q q 0 0 0 rg BT 260.20 692.45 Td (year-over-year ) Tj ET Q q 0 0 0 rg BT 321.48 692.45 Td (changes ) Tj ET Q q 0 0 0 rg BT 358.27 692.45 Td (in ) Tj ET Q q 0 0 0 rg BT 368.04 692.45 Td (our ) Tj ET Q q 0 0 0 rg BT 383.81 692.45 Td (revenue, ) Tj ET Q q 0 0 0 rg BT 421.60 692.45 Td (in ) Tj ET Q q 0 0 0 rg BT 431.37 692.45 Td (total ) Tj ET Q q 0 0 0 rg BT 451.15 692.45 Td (and ) Tj ET Q q 0 0 0 rg BT 468.93 692.45 Td (by ) Tj ET Q q 0 0 0 rg BT 481.20 692.45 Td (segment, ) Tj ET Q q 0 0 0 rg BT 520.98 692.45 Td (separately ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 678.95 Td (showing ) Tj ET Q q 0 0 0 rg BT 107.46 678.95 Td (the ) Tj ET Q q 0 0 0 rg BT 122.41 678.95 Td (impacts ) Tj ET Q q 0 0 0 rg BT 155.86 678.95 Td (of ) Tj ET Q q 0 0 0 rg BT 165.81 678.95 Td (foreign ) Tj ET Q q 0 0 0 rg BT 195.77 678.95 Td (currency ) Tj ET Q q 0 0 0 rg BT 232.72 678.95 Td (exchange ) Tj ET Q q 0 0 0 rg BT 274.19 678.95 Td (rate ) Tj ET Q q 0 0 0 rg BT 292.14 678.95 Td (variations ) Tj ET Q q 0 0 0 rg BT 333.10 678.95 Td (between ) Tj ET Q q 0 0 0 rg BT 369.56 678.95 Td (the ) Tj ET Q q 0 0 0 rg BT 384.52 678.95 Td (Q4 ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 398.96 678.95 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 418.98 678.95 Td ( ) Tj ET Q q 0 0 0 rg BT 421.42 678.95 Td (and ) Tj ET Q q 0 0 0 rg BT 438.88 678.95 Td (Q4 ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 453.33 678.95 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.35 678.95 Td ( ) Tj ET Q q 0 0 0 rg BT 475.79 678.95 Td (periods. ) Tj ET Q q 0 0 0 rg BT 510.09 678.95 Td (The ) Tj ET Q q 0 0 0 rg BT 528.04 678.95 Td (Q4 ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.48 678.95 Td (2015) Tj ET Q BT /F3 9.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 665.45 Td (revenue ) Tj ET Q q 0 0 0 rg BT 106.60 665.45 Td (by ) Tj ET Q q 0 0 0 rg BT 118.19 665.45 Td (segment ) Tj ET Q q 0 0 0 rg BT 154.79 665.45 Td (was ) Tj ET Q q 0 0 0 rg BT 172.87 665.45 Td (recorded ) Tj ET Q q 0 0 0 rg BT 210.47 665.45 Td (reflecting ) Tj ET Q q 0 0 0 rg BT 249.07 665.45 Td (the ) Tj ET Q q 0 0 0 rg BT 263.66 665.45 Td (actual ) Tj ET Q q 0 0 0 rg BT 289.75 665.45 Td (average ) Tj ET Q q 0 0 0 rg BT 324.36 665.45 Td (foreign ) Tj ET Q q 0 0 0 rg BT 353.95 665.45 Td (exchange ) Tj ET Q q 0 0 0 rg BT 395.06 665.45 Td (rates ) Tj ET Q q 0 0 0 rg BT 417.15 665.45 Td (for ) Tj ET Q q 0 0 0 rg BT 429.73 665.45 Td (that ) Tj ET Q q 0 0 0 rg BT 446.83 665.45 Td (period. ) Tj ET Q q 0 0 0 rg BT 476.29 665.45 Td (The ) Tj ET Q q 0 0 0 rg BT 493.88 665.45 Td (foreign ) Tj ET Q q 0 0 0 rg BT 523.47 665.45 Td (exchange ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 651.95 Td (impact ) Tj ET Q q 0 0 0 rg BT 101.27 651.95 Td (is ) Tj ET Q q 0 0 0 rg BT 110.54 651.95 Td (the ) Tj ET Q q 0 0 0 rg BT 125.81 651.95 Td (dif) Tj ET Q q 0 0 0 rg BT 135.15 651.95 Td (ference ) Tj ET Q q 0 0 0 rg BT 167.94 651.95 Td (between ) Tj ET Q q 0 0 0 rg BT 204.73 651.95 Td (the ) Tj ET Q q 0 0 0 rg BT 220.00 651.95 Td (current ) Tj ET Q q 0 0 0 rg BT 250.78 651.95 Td (period) Tj ET Q q 0 0 0 rg BT 277.63 651.95 Td (s ) Tj ET Q q 0 0 0 rg BT 284.90 651.95 Td (actual ) Tj ET Q q 0 0 0 rg BT 311.68 651.95 Td (results ) Tj ET Q q 0 0 0 rg BT 340.95 651.95 Td (and ) Tj ET Q q 0 0 0 rg BT 358.73 651.95 Td (the ) Tj ET Q q 0 0 0 rg BT 374.01 651.95 Td (current ) Tj ET Q q 0 0 0 rg BT 404.78 651.95 Td (period) Tj ET Q q 0 0 0 rg BT 431.64 651.95 Td (s ) Tj ET Q q 0 0 0 rg BT 438.90 651.95 Td (results ) Tj ET Q q 0 0 0 rg BT 468.17 651.95 Td (converted ) Tj ET Q q 0 0 0 rg BT 510.46 651.95 Td (with ) Tj ET Q q 0 0 0 rg BT 529.23 651.95 Td (the ) Tj ET Q q 0 0 0 rg BT 544.50 651.95 Td (prior ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 638.45 Td (year) Tj ET Q q 0 0 0 rg BT 89.84 638.45 Td () Tj ET Q q 0 0 0 rg BT 91.68 638.45 Td (s ) Tj ET Q q 0 0 0 rg BT 98.68 638.45 Td (average ) Tj ET Q q 0 0 0 rg BT 133.70 638.45 Td (foreign ) Tj ET Q q 0 0 0 rg BT 163.72 638.45 Td (exchange ) Tj ET Q q 0 0 0 rg BT 205.26 638.45 Td (rates.) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 72.25 627.95 257.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 329.25 627.95 58.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 387.25 627.95 58.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 445.25 627.95 116.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 329.25 614.95 58.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 387.25 614.95 58.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 445.25 614.95 58.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 503.25 614.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 601.95 58.00 -12.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.25 589.95 257.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 329.25 589.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 387.25 589.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 445.25 589.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 503.25 589.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 576.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 563.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.25 550.95 257.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 329.25 550.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 387.25 550.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 445.25 550.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 503.25 550.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 537.95 58.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 530.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 517.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 504.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.25 491.95 257.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 329.25 491.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 387.25 491.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 445.25 491.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 503.25 491.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 478.95 58.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 471.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 458.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 445.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.25 432.95 257.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 329.25 432.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 387.25 432.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 445.25 432.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 503.25 432.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 419.95 58.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 412.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 399.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 386.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.25 373.95 257.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 329.25 373.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 387.25 373.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 445.25 373.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 503.25 373.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 360.95 58.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 353.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 340.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 327.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.25 314.95 257.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 329.25 314.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 387.25 314.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 445.25 314.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 503.25 314.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 301.95 58.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 294.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 281.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 268.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.25 255.95 257.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 329.25 255.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 387.25 255.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 445.25 255.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 503.25 255.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 242.95 58.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 235.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 222.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 209.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.25 196.95 257.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 329.25 196.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 387.25 196.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 445.25 196.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 503.25 196.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 183.95 58.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 176.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 163.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.25 150.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.25 137.95 257.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 329.25 137.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 387.25 137.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 445.25 137.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 503.25 137.95 58.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 627.95 m 329.25 627.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 329.25 627.95 m 387.25 627.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 387.25 627.95 m 445.25 627.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445.25 627.95 m 503.25 627.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.25 627.95 m 561.25 627.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.25 124.95000000000005 m 329.25 124.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 329.25 124.95000000000005 m 387.25 124.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 387.25 124.95000000000005 m 445.25 124.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445.25 124.95000000000005 m 503.25 124.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.25 124.95000000000005 m 561.25 124.95000000000005 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 74.75 606.18 Td (For the three months ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 495.75 619.43 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 359.95 606.43 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 417.95 606.43 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 483.75 606.43 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 535.75 606.43 Td (%) Tj ET Q BT /F4 7.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 74.75 594.15 Td (In thousands of CAD except for percentages) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.75 581.18 Td (Total CGI revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 341.30 581.18 Td (2,582,429) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 400.45 581.23 Td (2,585,275) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.90 581.18 Td (\(2,846) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.60 581.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.15 581.18 Td (\(0.1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.95 581.18 Td (%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.75 568.18 Td (Variation prior to foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 359.80 568.18 Td (2.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 370.95 568.18 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.75 555.18 Td (Foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 357.15 555.18 Td (\(2.9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 370.95 555.18 Td (%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.75 542.18 Td (Variation over previous period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 357.15 542.18 Td (\(0.1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 370.95 542.18 Td (%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.75 522.18 Td (U.S.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.75 509.18 Td (Revenue prior to foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.00 509.18 Td (725,638) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 407.05 509.18 Td (752,231) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.45 509.18 Td (\(26,593) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.60 509.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.15 509.18 Td (\(3.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.95 509.18 Td (%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.75 496.18 Td (Foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.25 496.18 Td (\(4,146) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.95 496.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.75 483.18 Td (U.S. revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.00 483.18 Td (721,492) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 407.05 483.18 Td (752,231) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.45 483.18 Td (\(30,739) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.60 483.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.15 483.18 Td (\(4.1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.95 483.18 Td (%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.75 463.18 Td (Nordics) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.75 450.18 Td (Revenue prior to foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.00 450.18 Td (361,126) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 407.05 450.18 Td (368,109) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.90 450.18 Td (\(6,983) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.60 450.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.15 450.18 Td (\(1.9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.95 450.18 Td (%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.75 437.18 Td (Foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.25 437.18 Td (\(2,546) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.95 437.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.75 424.18 Td (Nordics revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.00 424.18 Td (358,580) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 407.05 424.18 Td (368,109) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.90 424.18 Td (\(9,529) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.60 424.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.15 424.18 Td (\(2.6) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.95 424.18 Td (%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.75 404.18 Td (Canada) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.75 391.18 Td (Revenue prior to foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.00 391.18 Td (387,476) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 407.05 391.18 Td (371,824) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.05 391.18 Td (15,652) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 391.18 Td (4.2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.95 391.18 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.75 378.18 Td (Foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.90 378.18 Td (\(432) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.95 378.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.75 365.18 Td (Canada revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.00 365.18 Td (387,044) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 407.05 365.18 Td (371,824) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.05 365.18 Td (15,220) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 365.18 Td (4.1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.95 365.18 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.75 345.18 Td (France) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.75 332.18 Td (Revenue prior to foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.00 332.18 Td (342,165) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 407.05 332.18 Td (314,234) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.05 332.18 Td (27,931) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 332.18 Td (8.9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.95 332.18 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.75 319.18 Td (Foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.90 319.18 Td (\(493) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.95 319.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.75 306.18 Td (France revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.00 306.18 Td (341,672) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 407.05 306.18 Td (314,234) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.05 306.18 Td (27,438) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 306.18 Td (8.7) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.95 306.18 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.75 286.18 Td (U.K.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.75 273.18 Td (Revenue prior to foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.00 273.18 Td (406,207) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 407.05 273.18 Td (355,095) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.05 273.18 Td (51,112) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.35 273.23 Td (14.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.95 273.18 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.75 260.18 Td (Foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.80 260.18 Td (\(63,120) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.95 260.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.75 247.18 Td (U.K. revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.00 247.18 Td (343,087) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 407.05 247.18 Td (355,095) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.45 247.18 Td (\(12,008) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.60 247.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.15 247.18 Td (\(3.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.95 247.18 Td (%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.75 227.18 Td (ECS) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.75 214.18 Td (Revenue prior to foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.00 214.18 Td (288,202) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 407.05 214.18 Td (295,721) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.90 214.18 Td (\(7,519) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.60 214.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.15 214.18 Td (\(2.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.95 214.18 Td (%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.75 201.18 Td (Foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 363.55 201.18 Td (185) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.75 188.18 Td (ECS revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.00 188.18 Td (288,387) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 407.05 188.18 Td (295,721) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.90 188.18 Td (\(7,334) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.60 188.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.15 188.18 Td (\(2.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.95 188.18 Td (%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.75 168.18 Td (Asia Pacific) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.75 155.18 Td (Revenue prior to foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.00 155.18 Td (146,270) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 407.05 155.18 Td (128,061) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.05 155.18 Td (18,209) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.35 155.23 Td (14.2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.95 155.18 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.75 142.18 Td (Foreign currency impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.25 142.18 Td (\(4,103) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.95 142.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.75 129.18 Td (Asia Pacific revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.00 129.18 Td (142,167) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 407.05 129.18 Td (128,061) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.05 129.18 Td (14,106) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.35 129.23 Td (11.0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.95 129.18 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 105.95 Td (W) Tj ET Q q 0 0 0 rg BT 80.33 105.95 Td (e ) Tj ET Q q 0 0 0 rg BT 88.04 105.95 Td (ended ) Tj ET Q q 0 0 0 rg BT 115.77 105.95 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 130.99 105.95 Td (fourth) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 154.00 105.95 Td ( ) Tj ET Q q 0 0 0 rg BT 156.71 105.95 Td (quarter ) Tj ET Q q 0 0 0 rg BT 187.93 105.95 Td (of ) Tj ET Q q 0 0 0 rg BT 198.14 105.95 Td (fiscal ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 221.35 105.95 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 241.37 105.95 Td ( ) Tj ET Q q 0 0 0 rg BT 244.07 105.95 Td (with ) Tj ET Q q 0 0 0 rg BT 262.78 105.95 Td (revenue ) Tj ET Q q 0 0 0 rg BT 298.01 105.95 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 308.22 105.95 Td ($2,582.4 ) Tj ET Q q 0 0 0 rg BT 345.96 105.95 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 371.47 105.95 Td (, ) Tj ET Q q 0 0 0 rg BT 376.67 105.95 Td (essentially ) Tj ET Q q 0 0 0 rg BT 421.40 105.95 Td (stable ) Tj ET Q q 0 0 0 rg BT 448.12 105.95 Td (when ) Tj ET Q q 0 0 0 rg BT 472.34 105.95 Td (compared ) Tj ET Q q 0 0 0 rg BT 515.06 105.95 Td (to ) Tj ET Q q 0 0 0 rg BT 525.27 105.95 Td (the ) Tj ET Q q 0 0 0 rg BT 540.49 105.95 Td (same ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 92.45 Td (period ) Tj ET Q q 0 0 0 rg BT 100.64 92.45 Td (of ) Tj ET Q q 0 0 0 rg BT 111.78 92.45 Td (fiscal ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 135.91 92.45 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 155.93 92.45 Td (. ) Tj ET Q q 0 0 0 rg BT 162.05 92.45 Td (On ) Tj ET Q q 0 0 0 rg BT 177.69 92.45 Td (a ) Tj ET Q q 0 0 0 rg BT 186.32 92.45 Td (constant ) Tj ET Q q 0 0 0 rg BT 223.97 92.45 Td (currency ) Tj ET Q q 0 0 0 rg BT 262.10 92.45 Td (basis, ) Tj ET Q q 0 0 0 rg BT 289.24 92.45 Td (revenue ) Tj ET Q q 0 0 0 rg BT 325.39 92.45 Td (increased ) Tj ET Q q 0 0 0 rg BT 368.04 92.45 Td (by ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 381.17 92.45 Td ($71.8 ) Tj ET Q q 0 0 0 rg BT 407.32 92.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 432.82 92.45 Td ( ) Tj ET Q q 0 0 0 rg BT 436.45 92.45 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 448.08 92.45 Td (2.8%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 468.59 92.45 Td (. ) Tj ET Q q 0 0 0 rg BT 474.72 92.45 Td (Foreign ) Tj ET Q q 0 0 0 rg BT 508.86 92.45 Td (currency ) Tj ET Q q 0 0 0 rg BT 547.00 92.45 Td (rate ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 78.95 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 120.03 78.95 Td (unfavourably ) Tj ET Q q 0 0 0 rg BT 174.06 78.95 Td (impacted ) Tj ET Q q 0 0 0 rg BT 213.08 78.95 Td (our ) Tj ET Q q 0 0 0 rg BT 228.59 78.95 Td (revenue ) Tj ET Q q 0 0 0 rg BT 263.61 78.95 Td (by ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 275.62 78.95 Td ($74.7 ) Tj ET Q q 0 0 0 rg BT 300.64 78.95 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 326.15 78.95 Td ( ) Tj ET Q q 0 0 0 rg BT 328.65 78.95 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 339.15 78.95 Td (2.9%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 359.67 78.95 Td (. ) Tj ET Q endstream endobj 67 0 obj <> endobj 68 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (32) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (5.2.1. ) Tj ET Q q 0 0 0 rg BT 98.52 708.95 Td (U.S.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 692.45 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 111.06 692.45 Td (in ) Tj ET Q q 0 0 0 rg BT 121.10 692.45 Td (our ) Tj ET Q q 0 0 0 rg BT 137.14 692.45 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 157.68 692.45 Td (segment ) Tj ET Q q 0 0 0 rg BT 195.24 692.45 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 214.28 692.45 Td ($721.5 ) Tj ET Q q 0 0 0 rg BT 244.84 692.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 270.35 692.45 Td ( ) Tj ET Q q 0 0 0 rg BT 273.38 692.45 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 283.42 692.45 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 298.46 692.45 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 318.48 692.45 Td (, ) Tj ET Q q 0 0 0 rg BT 324.02 692.45 Td (a ) Tj ET Q q 0 0 0 rg BT 332.06 692.45 Td (decrease ) Tj ET Q q 0 0 0 rg BT 372.12 692.45 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 382.66 692.45 Td ($30.7 ) Tj ET Q q 0 0 0 rg BT 408.22 692.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 433.72 692.45 Td ( ) Tj ET Q q 0 0 0 rg BT 436.76 692.45 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 447.80 692.45 Td (4.1%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 468.31 692.45 Td ( ) Tj ET Q q 0 0 0 rg BT 471.34 692.45 Td (compared ) Tj ET Q q 0 0 0 rg BT 514.40 692.45 Td (to ) Tj ET Q q 0 0 0 rg BT 524.94 692.45 Td (the ) Tj ET Q q 0 0 0 rg BT 540.49 692.45 Td (same ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 678.95 Td (period ) Tj ET Q q 0 0 0 rg BT 99.14 678.95 Td (of ) Tj ET Q q 0 0 0 rg BT 108.76 678.95 Td (fiscal ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 131.38 678.95 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.40 678.95 Td (. ) Tj ET Q q 0 0 0 rg BT 156.02 678.95 Td (On ) Tj ET Q q 0 0 0 rg BT 170.15 678.95 Td (a ) Tj ET Q q 0 0 0 rg BT 177.27 678.95 Td (constant ) Tj ET Q q 0 0 0 rg BT 213.41 678.95 Td (currency ) Tj ET Q q 0 0 0 rg BT 250.04 678.95 Td (basis, ) Tj ET Q q 0 0 0 rg BT 275.67 678.95 Td (revenue ) Tj ET Q q 0 0 0 rg BT 310.31 678.95 Td (decreased ) Tj ET Q q 0 0 0 rg BT 354.46 678.95 Td (by ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 366.08 678.95 Td ($26.6 ) Tj ET Q q 0 0 0 rg BT 390.72 678.95 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 416.23 678.95 Td ( ) Tj ET Q q 0 0 0 rg BT 418.35 678.95 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 428.47 678.95 Td (3.5%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 448.98 678.95 Td (. ) Tj ET Q q 0 0 0 rg BT 453.46 678.95 Td (The ) Tj ET Q q 0 0 0 rg BT 471.09 678.95 Td (change ) Tj ET Q q 0 0 0 rg BT 502.73 678.95 Td (in ) Tj ET Q q 0 0 0 rg BT 511.86 678.95 Td (revenue ) Tj ET Q q 0 0 0 rg BT 546.50 678.95 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 665.45 Td (mostly ) Tj ET Q q 0 0 0 rg BT 100.70 665.45 Td (due ) Tj ET Q q 0 0 0 rg BT 118.41 665.45 Td (to ) Tj ET Q q 0 0 0 rg BT 128.62 665.45 Td (the ) Tj ET Q q 0 0 0 rg BT 143.82 665.45 Td (non-renewal ) Tj ET Q q 0 0 0 rg BT 196.05 665.45 Td (of ) Tj ET Q q 0 0 0 rg BT 206.26 665.45 Td (contracts ) Tj ET Q q 0 0 0 rg BT 245.47 665.45 Td (in ) Tj ET Q q 0 0 0 rg BT 255.17 665.45 Td (the ) Tj ET Q q 0 0 0 rg BT 270.38 665.45 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 290.58 665.45 Td (government ) Tj ET Q q 0 0 0 rg BT 340.80 665.45 Td (market, ) Tj ET Q q 0 0 0 rg BT 373.51 665.45 Td (mainly ) Tj ET Q q 0 0 0 rg BT 402.21 665.45 Td (in ) Tj ET Q q 0 0 0 rg BT 411.91 665.45 Td (the ) Tj ET Q q 0 0 0 rg BT 427.12 665.45 Td (defense ) Tj ET Q q 0 0 0 rg BT 461.85 665.45 Td (sector) Tj ET Q q 0 0 0 rg BT 485.86 665.45 Td (, ) Tj ET Q q 0 0 0 rg BT 491.05 665.45 Td (partly ) Tj ET Q q 0 0 0 rg BT 515.76 665.45 Td (of) Tj ET Q q 0 0 0 rg BT 523.10 665.45 Td (fset ) Tj ET Q q 0 0 0 rg BT 540.31 665.45 Td (by ) Tj ET Q q 0 0 0 rg BT 552.51 665.45 Td (an ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 651.95 Td (increased ) Tj ET Q q 0 0 0 rg BT 113.52 651.95 Td (volume ) Tj ET Q q 0 0 0 rg BT 145.04 651.95 Td (of ) Tj ET Q q 0 0 0 rg BT 155.04 651.95 Td (work ) Tj ET Q q 0 0 0 rg BT 176.55 651.95 Td (within ) Tj ET Q q 0 0 0 rg BT 202.06 651.95 Td (the ) Tj ET Q q 0 0 0 rg BT 217.07 651.95 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 237.07 651.95 Td (federal ) Tj ET Q q 0 0 0 rg BT 267.09 651.95 Td (civilian ) Tj ET Q q 0 0 0 rg BT 296.60 651.95 Td (agencies.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 632.45 Td (For ) Tj ET Q q 0 0 0 rg BT 87.90 632.45 Td (the ) Tj ET Q q 0 0 0 rg BT 102.81 632.45 Td (current ) Tj ET Q q 0 0 0 rg BT 133.22 632.45 Td (quarter) Tj ET Q q 0 0 0 rg BT 161.24 632.45 Td (, ) Tj ET Q q 0 0 0 rg BT 166.13 632.45 Td (the ) Tj ET Q q 0 0 0 rg BT 181.04 632.45 Td (top ) Tj ET Q q 0 0 0 rg BT 195.95 632.45 Td (two ) Tj ET Q q 0 0 0 rg BT 212.36 632.45 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 232.26 632.45 Td (vertical ) Tj ET Q q 0 0 0 rg BT 263.16 632.45 Td (markets ) Tj ET Q q 0 0 0 rg BT 297.57 632.45 Td (were ) Tj ET Q q 0 0 0 rg BT 319.47 632.45 Td (government ) Tj ET Q q 0 0 0 rg BT 369.40 632.45 Td (and ) Tj ET Q q 0 0 0 rg BT 386.81 632.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 422.23 632.45 Td (services, ) Tj ET Q q 0 0 0 rg BT 460.13 632.45 Td (which ) Tj ET Q q 0 0 0 rg BT 485.54 632.45 Td (together ) Tj ET Q q 0 0 0 rg BT 520.96 632.45 Td (accounted ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 618.95 Td (for ) Tj ET Q q 0 0 0 rg BT 85.00 618.95 Td (approximately ) Tj ET Q q 0 0 0 rg BT 143.53 618.95 Td (77% ) Tj ET Q q 0 0 0 rg BT 164.04 618.95 Td (of ) Tj ET Q q 0 0 0 rg BT 174.05 618.95 Td (its ) Tj ET Q q 0 0 0 rg BT 185.55 618.95 Td (revenue.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 593.15 Td (5.2.2. ) Tj ET Q q 0 0 0 rg BT 98.52 593.15 Td (Nordics) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 576.65 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 110.16 576.65 Td (from ) Tj ET Q q 0 0 0 rg BT 130.29 576.65 Td (our ) Tj ET Q q 0 0 0 rg BT 145.43 576.65 Td (Nordics ) Tj ET Q q 0 0 0 rg BT 178.07 576.65 Td (segment ) Tj ET Q q 0 0 0 rg BT 214.72 576.65 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 232.86 576.65 Td ($358.6 ) Tj ET Q q 0 0 0 rg BT 262.52 576.65 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 288.02 576.65 Td ( ) Tj ET Q q 0 0 0 rg BT 290.15 576.65 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 299.29 576.65 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 313.43 576.65 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 333.45 576.65 Td (, ) Tj ET Q q 0 0 0 rg BT 338.08 576.65 Td (a ) Tj ET Q q 0 0 0 rg BT 345.22 576.65 Td (decrease ) Tj ET Q q 0 0 0 rg BT 384.37 576.65 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 394.01 576.65 Td ($9.5 ) Tj ET Q q 0 0 0 rg BT 413.66 576.65 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 439.17 576.65 Td ( ) Tj ET Q q 0 0 0 rg BT 441.30 576.65 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 451.43 576.65 Td (2.6%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 471.95 576.65 Td ( ) Tj ET Q q 0 0 0 rg BT 474.08 576.65 Td (compared ) Tj ET Q q 0 0 0 rg BT 516.23 576.65 Td (to ) Tj ET Q q 0 0 0 rg BT 525.87 576.65 Td (the ) Tj ET Q q 0 0 0 rg BT 540.51 576.65 Td (same ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 563.15 Td (period ) Tj ET Q q 0 0 0 rg BT 99.86 563.15 Td (of ) Tj ET Q q 0 0 0 rg BT 110.22 563.15 Td (fiscal ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 133.57 563.15 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 153.59 563.15 Td (. ) Tj ET Q q 0 0 0 rg BT 158.94 563.15 Td (On ) Tj ET Q q 0 0 0 rg BT 173.79 563.15 Td (a ) Tj ET Q q 0 0 0 rg BT 181.64 563.15 Td (constant ) Tj ET Q q 0 0 0 rg BT 218.51 563.15 Td (currency ) Tj ET Q q 0 0 0 rg BT 255.86 563.15 Td (basis, ) Tj ET Q q 0 0 0 rg BT 282.22 563.15 Td (revenue ) Tj ET Q q 0 0 0 rg BT 317.59 563.15 Td (decreased ) Tj ET Q q 0 0 0 rg BT 362.47 563.15 Td (by ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 374.82 563.15 Td ($7.0 ) Tj ET Q q 0 0 0 rg BT 395.18 563.15 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 420.69 563.15 Td ( ) Tj ET Q q 0 0 0 rg BT 423.53 563.15 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.38 563.15 Td (1.9%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 454.90 563.15 Td (. ) Tj ET Q q 0 0 0 rg BT 460.06 563.15 Td (The ) Tj ET Q q 0 0 0 rg BT 478.41 563.15 Td (change ) Tj ET Q q 0 0 0 rg BT 510.78 563.15 Td (in ) Tj ET Q q 0 0 0 rg BT 520.64 563.15 Td (revenue ) Tj ET Q q 0 0 0 rg BT 556.01 563.15 Td (is ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 549.65 Td (mainly ) Tj ET Q q 0 0 0 rg BT 100.82 549.65 Td (due ) Tj ET Q q 0 0 0 rg BT 118.66 549.65 Td (to ) Tj ET Q q 0 0 0 rg BT 128.98 549.65 Td (the ) Tj ET Q q 0 0 0 rg BT 144.31 549.65 Td (expiration ) Tj ET Q q 0 0 0 rg BT 186.15 549.65 Td (of ) Tj ET Q q 0 0 0 rg BT 196.48 549.65 Td (certain ) Tj ET Q q 0 0 0 rg BT 226.31 549.65 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 281.64 549.65 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 330.99 549.65 Td (contracts ) Tj ET Q q 0 0 0 rg BT 370.32 549.65 Td (and ) Tj ET Q q 0 0 0 rg BT 388.16 549.65 Td (an ) Tj ET Q q 0 0 0 rg BT 400.99 549.65 Td (increased ) Tj ET Q q 0 0 0 rg BT 442.83 549.65 Td (usage ) Tj ET Q q 0 0 0 rg BT 470.17 549.65 Td (of ) Tj ET Q q 0 0 0 rg BT 480.49 549.65 Td (our ) Tj ET Q q 0 0 0 rg BT 496.32 549.65 Td (of) Tj ET Q q 0 0 0 rg BT 503.66 549.65 Td (fshore ) Tj ET Q q 0 0 0 rg BT 531.49 549.65 Td (delivery ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 536.15 Td (centers ) Tj ET Q q 0 0 0 rg BT 104.12 536.15 Td (in ) Tj ET Q q 0 0 0 rg BT 113.22 536.15 Td (Asia ) Tj ET Q q 0 0 0 rg BT 133.33 536.15 Td (Pacific. ) Tj ET Q q 0 0 0 rg BT 164.78 536.15 Td (This ) Tj ET Q q 0 0 0 rg BT 184.39 536.15 Td (was ) Tj ET Q q 0 0 0 rg BT 203.00 536.15 Td (partly ) Tj ET Q q 0 0 0 rg BT 227.62 536.15 Td (of) Tj ET Q q 0 0 0 rg BT 234.96 536.15 Td (fset ) Tj ET Q q 0 0 0 rg BT 252.08 536.15 Td (by ) Tj ET Q q 0 0 0 rg BT 264.19 536.15 Td (an ) Tj ET Q q 0 0 0 rg BT 276.81 536.15 Td (increased ) Tj ET Q q 0 0 0 rg BT 318.44 536.15 Td (work ) Tj ET Q q 0 0 0 rg BT 340.05 536.15 Td (volume ) Tj ET Q q 0 0 0 rg BT 371.67 536.15 Td (within ) Tj ET Q q 0 0 0 rg BT 397.29 536.15 Td (the ) Tj ET Q q 0 0 0 rg BT 412.41 536.15 Td (MRD ) Tj ET Q q 0 0 0 rg BT 435.51 536.15 Td (vertical ) Tj ET Q q 0 0 0 rg BT 466.63 536.15 Td (market ) Tj ET Q q 0 0 0 rg BT 496.74 536.15 Td (for ) Tj ET Q q 0 0 0 rg BT 509.85 536.15 Td (both ) Tj ET Q q 0 0 0 rg BT 529.97 536.15 Td (Sweden ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 522.65 Td (and ) Tj ET Q q 0 0 0 rg BT 89.52 522.65 Td (Denmark. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 503.15 Td (For ) Tj ET Q q 0 0 0 rg BT 89.09 503.15 Td (the ) Tj ET Q q 0 0 0 rg BT 105.20 503.15 Td (current ) Tj ET Q q 0 0 0 rg BT 136.80 503.15 Td (quarter) Tj ET Q q 0 0 0 rg BT 164.82 503.15 Td (, ) Tj ET Q q 0 0 0 rg BT 170.92 503.15 Td (the ) Tj ET Q q 0 0 0 rg BT 187.02 503.15 Td (Nordics' ) Tj ET Q q 0 0 0 rg BT 222.84 503.15 Td (top ) Tj ET Q q 0 0 0 rg BT 238.94 503.15 Td (two ) Tj ET Q q 0 0 0 rg BT 256.54 503.15 Td (vertical ) Tj ET Q q 0 0 0 rg BT 288.64 503.15 Td (markets ) Tj ET Q q 0 0 0 rg BT 324.24 503.15 Td (were ) Tj ET Q q 0 0 0 rg BT 347.34 503.15 Td (MRD ) Tj ET Q q 0 0 0 rg BT 371.43 503.15 Td (and ) Tj ET Q q 0 0 0 rg BT 390.04 503.15 Td (government, ) Tj ET Q q 0 0 0 rg BT 443.66 503.15 Td (which ) Tj ET Q q 0 0 0 rg BT 470.26 503.15 Td (together ) Tj ET Q q 0 0 0 rg BT 506.88 503.15 Td (accounted ) Tj ET Q q 0 0 0 rg BT 552.01 503.15 Td (for ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 489.65 Td (approximately ) Tj ET Q q 0 0 0 rg BT 130.53 489.65 Td (65% ) Tj ET Q q 0 0 0 rg BT 151.04 489.65 Td (of ) Tj ET Q q 0 0 0 rg BT 161.05 489.65 Td (its ) Tj ET Q q 0 0 0 rg BT 172.55 489.65 Td (revenue.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 463.85 Td (5.2.3. ) Tj ET Q q 0 0 0 rg BT 98.52 463.85 Td (Canada) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 447.35 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 110.13 447.35 Td (in ) Tj ET Q q 0 0 0 rg BT 119.24 447.35 Td (our ) Tj ET Q q 0 0 0 rg BT 134.36 447.35 Td (Canada ) Tj ET Q q 0 0 0 rg BT 167.99 447.35 Td (segment ) Tj ET Q q 0 0 0 rg BT 204.61 447.35 Td (for ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 217.22 447.35 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 231.33 447.35 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 251.36 447.35 Td ( ) Tj ET Q q 0 0 0 rg BT 253.46 447.35 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 271.57 447.35 Td ($387.0 ) Tj ET Q q 0 0 0 rg BT 301.21 447.35 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 326.71 447.35 Td (, ) Tj ET Q q 0 0 0 rg BT 331.32 447.35 Td (an ) Tj ET Q q 0 0 0 rg BT 343.44 447.35 Td (increase ) Tj ET Q q 0 0 0 rg BT 379.56 447.35 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 389.17 447.35 Td ($15.2 ) Tj ET Q q 0 0 0 rg BT 413.80 447.35 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 439.31 447.35 Td ( ) Tj ET Q q 0 0 0 rg BT 441.41 447.35 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 451.52 447.35 Td (4.1%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.03 447.35 Td ( ) Tj ET Q q 0 0 0 rg BT 474.14 447.35 Td (compared ) Tj ET Q q 0 0 0 rg BT 516.27 447.35 Td (to ) Tj ET Q q 0 0 0 rg BT 525.88 447.35 Td (the ) Tj ET Q q 0 0 0 rg BT 540.50 447.35 Td (same ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 433.85 Td (period ) Tj ET Q q 0 0 0 rg BT 98.96 433.85 Td (of ) Tj ET Q q 0 0 0 rg BT 108.41 433.85 Td (fiscal ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 130.85 433.85 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 150.87 433.85 Td (. ) Tj ET Q q 0 0 0 rg BT 155.19 433.85 Td (The ) Tj ET Q q 0 0 0 rg BT 172.64 433.85 Td (increase ) Tj ET Q q 0 0 0 rg BT 208.60 433.85 Td (of ) Tj ET Q q 0 0 0 rg BT 218.05 433.85 Td (revenue ) Tj ET Q q 0 0 0 rg BT 252.51 433.85 Td (was ) Tj ET Q q 0 0 0 rg BT 270.46 433.85 Td (mostly ) Tj ET Q q 0 0 0 rg BT 298.40 433.85 Td (due ) Tj ET Q q 0 0 0 rg BT 315.36 433.85 Td (to ) Tj ET Q q 0 0 0 rg BT 324.81 433.85 Td (an ) Tj ET Q q 0 0 0 rg BT 336.76 433.85 Td (increase ) Tj ET Q q 0 0 0 rg BT 372.72 433.85 Td (in ) Tj ET Q q 0 0 0 rg BT 381.66 433.85 Td (financial ) Tj ET Q q 0 0 0 rg BT 416.63 433.85 Td (services, ) Tj ET Q q 0 0 0 rg BT 454.08 433.85 Td (including ) Tj ET Q q 0 0 0 rg BT 491.54 433.85 Td (IP-based ) Tj ET Q q 0 0 0 rg BT 529.51 433.85 Td (services ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 420.35 Td (and ) Tj ET Q q 0 0 0 rg BT 90.05 420.35 Td (solutions ) Tj ET Q q 0 0 0 rg BT 128.61 420.35 Td (revenue, ) Tj ET Q q 0 0 0 rg BT 166.67 420.35 Td (as ) Tj ET Q q 0 0 0 rg BT 179.21 420.35 Td (well ) Tj ET Q q 0 0 0 rg BT 197.75 420.35 Td (as ) Tj ET Q q 0 0 0 rg BT 210.29 420.35 Td (new ) Tj ET Q q 0 0 0 rg BT 229.83 420.35 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 279.40 420.35 Td (contracts ) Tj ET Q q 0 0 0 rg BT 318.95 420.35 Td (within ) Tj ET Q q 0 0 0 rg BT 344.99 420.35 Td (the ) Tj ET Q q 0 0 0 rg BT 360.54 420.35 Td (MRD ) Tj ET Q q 0 0 0 rg BT 384.07 420.35 Td (vertical ) Tj ET Q q 0 0 0 rg BT 415.61 420.35 Td (market. ) Tj ET Q q 0 0 0 rg BT 448.46 420.35 Td (This ) Tj ET Q q 0 0 0 rg BT 468.49 420.35 Td (was ) Tj ET Q q 0 0 0 rg BT 487.53 420.35 Td (partly ) Tj ET Q q 0 0 0 rg BT 512.58 420.35 Td (of) Tj ET Q q 0 0 0 rg BT 519.92 420.35 Td (fset ) Tj ET Q q 0 0 0 rg BT 537.46 420.35 Td (by ) Tj ET Q q 0 0 0 rg BT 550.00 420.35 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 406.85 Td (expiration ) Tj ET Q q 0 0 0 rg BT 113.52 406.85 Td (of ) Tj ET Q q 0 0 0 rg BT 123.53 406.85 Td (certain ) Tj ET Q q 0 0 0 rg BT 153.04 406.85 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 208.06 406.85 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 257.09 406.85 Td (contracts. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 387.35 Td (For ) Tj ET Q q 0 0 0 rg BT 88.12 387.35 Td (the ) Tj ET Q q 0 0 0 rg BT 103.26 387.35 Td (current ) Tj ET Q q 0 0 0 rg BT 133.89 387.35 Td (quarter) Tj ET Q q 0 0 0 rg BT 161.91 387.35 Td (, ) Tj ET Q q 0 0 0 rg BT 167.03 387.35 Td (Canada) Tj ET Q q 0 0 0 rg BT 200.40 387.35 Td (s ) Tj ET Q q 0 0 0 rg BT 207.52 387.35 Td (top ) Tj ET Q q 0 0 0 rg BT 222.65 387.35 Td (two ) Tj ET Q q 0 0 0 rg BT 239.28 387.35 Td (vertical ) Tj ET Q q 0 0 0 rg BT 270.41 387.35 Td (markets ) Tj ET Q q 0 0 0 rg BT 305.04 387.35 Td (were ) Tj ET Q q 0 0 0 rg BT 327.17 387.35 Td (financial ) Tj ET Q q 0 0 0 rg BT 362.81 387.35 Td (services ) Tj ET Q q 0 0 0 rg BT 398.44 387.35 Td (and ) Tj ET Q q 0 0 0 rg BT 416.08 387.35 Td (telecommunications ) Tj ET Q q 0 0 0 rg BT 498.24 387.35 Td (& ) Tj ET Q q 0 0 0 rg BT 506.86 387.35 Td (utilities, ) Tj ET Q q 0 0 0 rg BT 539.50 387.35 Td (which ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 373.85 Td (together ) Tj ET Q q 0 0 0 rg BT 107.53 373.85 Td (accounted ) Tj ET Q q 0 0 0 rg BT 151.56 373.85 Td (for ) Tj ET Q q 0 0 0 rg BT 164.56 373.85 Td (approximately ) Tj ET Q q 0 0 0 rg BT 223.09 373.85 Td (60% ) Tj ET Q q 0 0 0 rg BT 243.60 373.85 Td (of ) Tj ET Q q 0 0 0 rg BT 253.61 373.85 Td (its ) Tj ET Q q 0 0 0 rg BT 265.11 373.85 Td (revenue.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 348.05 Td (5.2.4. ) Tj ET Q q 0 0 0 rg BT 98.52 348.05 Td (France) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 331.55 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 110.06 331.55 Td (from ) Tj ET Q q 0 0 0 rg BT 130.10 331.55 Td (our ) Tj ET Q q 0 0 0 rg BT 145.14 331.55 Td (France ) Tj ET Q q 0 0 0 rg BT 175.19 331.55 Td (segment ) Tj ET Q q 0 0 0 rg BT 211.74 331.55 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 229.78 331.55 Td ($341.7 ) Tj ET Q q 0 0 0 rg BT 259.34 331.55 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 284.85 331.55 Td ( ) Tj ET Q q 0 0 0 rg BT 286.88 331.55 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 295.92 331.55 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 309.96 331.55 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 329.99 331.55 Td ( ) Tj ET Q q 0 0 0 rg BT 332.02 331.55 Td (an ) Tj ET Q q 0 0 0 rg BT 344.07 331.55 Td (increase ) Tj ET Q q 0 0 0 rg BT 380.12 331.55 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 389.66 331.55 Td ($27.4 ) Tj ET Q q 0 0 0 rg BT 414.22 331.55 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 439.72 331.55 Td ( ) Tj ET Q q 0 0 0 rg BT 441.76 331.55 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 451.80 331.55 Td (8.7%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.31 331.55 Td ( ) Tj ET Q q 0 0 0 rg BT 474.35 331.55 Td (compared ) Tj ET Q q 0 0 0 rg BT 516.40 331.55 Td (to ) Tj ET Q q 0 0 0 rg BT 525.94 331.55 Td (the ) Tj ET Q q 0 0 0 rg BT 540.49 331.55 Td (same ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 318.05 Td (period ) Tj ET Q q 0 0 0 rg BT 99.06 318.05 Td (of ) Tj ET Q q 0 0 0 rg BT 108.61 318.05 Td (fiscal ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 131.16 318.05 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 151.18 318.05 Td (. ) Tj ET Q q 0 0 0 rg BT 155.73 318.05 Td (On ) Tj ET Q q 0 0 0 rg BT 169.78 318.05 Td (a ) Tj ET Q q 0 0 0 rg BT 176.83 318.05 Td (constant ) Tj ET Q q 0 0 0 rg BT 212.89 318.05 Td (currency ) Tj ET Q q 0 0 0 rg BT 249.45 318.05 Td (basis, ) Tj ET Q q 0 0 0 rg BT 275.00 318.05 Td (revenue ) Tj ET Q q 0 0 0 rg BT 309.57 318.05 Td (increased ) Tj ET Q q 0 0 0 rg BT 350.64 318.05 Td (by ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 362.19 318.05 Td ($27.9 ) Tj ET Q q 0 0 0 rg BT 386.75 318.05 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 412.26 318.05 Td ( ) Tj ET Q q 0 0 0 rg BT 414.30 318.05 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 424.35 318.05 Td (8.9%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 444.86 318.05 Td (. ) Tj ET Q q 0 0 0 rg BT 449.27 318.05 Td (The ) Tj ET Q q 0 0 0 rg BT 466.83 318.05 Td (increase ) Tj ET Q q 0 0 0 rg BT 502.89 318.05 Td (in ) Tj ET Q q 0 0 0 rg BT 511.94 318.05 Td (revenue ) Tj ET Q q 0 0 0 rg BT 546.50 318.05 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 304.55 Td (mostly ) Tj ET Q q 0 0 0 rg BT 100.22 304.55 Td (due ) Tj ET Q q 0 0 0 rg BT 117.46 304.55 Td (to ) Tj ET Q q 0 0 0 rg BT 127.18 304.55 Td (an ) Tj ET Q q 0 0 0 rg BT 139.41 304.55 Td (increase ) Tj ET Q q 0 0 0 rg BT 175.64 304.55 Td (in ) Tj ET Q q 0 0 0 rg BT 184.87 304.55 Td (work ) Tj ET Q q 0 0 0 rg BT 206.09 304.55 Td (volume ) Tj ET Q q 0 0 0 rg BT 237.32 304.55 Td (across ) Tj ET Q q 0 0 0 rg BT 266.04 304.55 Td (the ) Tj ET Q q 0 0 0 rg BT 280.77 304.55 Td (majority ) Tj ET Q q 0 0 0 rg BT 314.50 304.55 Td (of ) Tj ET Q q 0 0 0 rg BT 324.22 304.55 Td (its ) Tj ET Q q 0 0 0 rg BT 335.44 304.55 Td (vertical ) Tj ET Q q 0 0 0 rg BT 366.17 304.55 Td (markets ) Tj ET Q q 0 0 0 rg BT 400.39 304.55 Td (and, ) Tj ET Q q 0 0 0 rg BT 420.12 304.55 Td (to ) Tj ET Q q 0 0 0 rg BT 429.85 304.55 Td (a ) Tj ET Q q 0 0 0 rg BT 437.07 304.55 Td (lesser ) Tj ET Q q 0 0 0 rg BT 463.30 304.55 Td (extent, ) Tj ET Q q 0 0 0 rg BT 492.53 304.55 Td (a ) Tj ET Q q 0 0 0 rg BT 499.76 304.55 Td (recent ) Tj ET Q q 0 0 0 rg BT 526.99 304.55 Td (business ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 291.05 Td (acquisition. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 271.55 Td (For ) Tj ET Q q 0 0 0 rg BT 88.62 271.55 Td (the ) Tj ET Q q 0 0 0 rg BT 104.24 271.55 Td (current ) Tj ET Q q 0 0 0 rg BT 135.37 271.55 Td (quarter) Tj ET Q q 0 0 0 rg BT 163.39 271.55 Td (, ) Tj ET Q q 0 0 0 rg BT 169.00 271.55 Td (France) Tj ET Q q 0 0 0 rg BT 198.85 271.55 Td (s ) Tj ET Q q 0 0 0 rg BT 206.47 271.55 Td (top ) Tj ET Q q 0 0 0 rg BT 222.10 271.55 Td (two ) Tj ET Q q 0 0 0 rg BT 239.22 271.55 Td (vertical ) Tj ET Q q 0 0 0 rg BT 270.84 271.55 Td (markets ) Tj ET Q q 0 0 0 rg BT 305.96 271.55 Td (were ) Tj ET Q q 0 0 0 rg BT 328.58 271.55 Td (MRD ) Tj ET Q q 0 0 0 rg BT 352.20 271.55 Td (and ) Tj ET Q q 0 0 0 rg BT 370.33 271.55 Td (financial ) Tj ET Q q 0 0 0 rg BT 406.46 271.55 Td (services, ) Tj ET Q q 0 0 0 rg BT 445.09 271.55 Td (which ) Tj ET Q q 0 0 0 rg BT 471.21 271.55 Td (together ) Tj ET Q q 0 0 0 rg BT 507.35 271.55 Td (accounted ) Tj ET Q q 0 0 0 rg BT 552.00 271.55 Td (for ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 258.05 Td (approximately ) Tj ET Q q 0 0 0 rg BT 130.53 258.05 Td (63% ) Tj ET Q q 0 0 0 rg BT 151.04 258.05 Td (of ) Tj ET Q q 0 0 0 rg BT 161.05 258.05 Td (its ) Tj ET Q q 0 0 0 rg BT 172.55 258.05 Td (revenue.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 232.25 Td (5.2.5. ) Tj ET Q q 0 0 0 rg BT 98.52 232.25 Td (U.K.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 215.75 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 110.54 215.75 Td (from ) Tj ET Q q 0 0 0 rg BT 131.05 215.75 Td (our ) Tj ET Q q 0 0 0 rg BT 146.57 215.75 Td (U.K. ) Tj ET Q q 0 0 0 rg BT 166.59 215.75 Td (segment ) Tj ET Q q 0 0 0 rg BT 203.62 215.75 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 222.14 215.75 Td ($343.1 ) Tj ET Q q 0 0 0 rg BT 252.18 215.75 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 277.68 215.75 Td ( ) Tj ET Q q 0 0 0 rg BT 280.20 215.75 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 289.71 215.75 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 304.23 215.75 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 324.25 215.75 Td (, ) Tj ET Q q 0 0 0 rg BT 329.27 215.75 Td (a ) Tj ET Q q 0 0 0 rg BT 336.79 215.75 Td (decrease ) Tj ET Q q 0 0 0 rg BT 376.32 215.75 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 386.34 215.75 Td ($12.0 ) Tj ET Q q 0 0 0 rg BT 411.38 215.75 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 436.88 215.75 Td ( ) Tj ET Q q 0 0 0 rg BT 439.39 215.75 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 449.91 215.75 Td (3.4%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 470.42 215.75 Td ( ) Tj ET Q q 0 0 0 rg BT 472.94 215.75 Td (compared ) Tj ET Q q 0 0 0 rg BT 515.47 215.75 Td (to ) Tj ET Q q 0 0 0 rg BT 525.49 215.75 Td (the ) Tj ET Q q 0 0 0 rg BT 540.51 215.75 Td (same ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 202.25 Td (period ) Tj ET Q q 0 0 0 rg BT 99.75 202.25 Td (of ) Tj ET Q q 0 0 0 rg BT 109.99 202.25 Td (fiscal ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 133.23 202.25 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 153.25 202.25 Td (. ) Tj ET Q q 0 0 0 rg BT 158.48 202.25 Td (On ) Tj ET Q q 0 0 0 rg BT 173.22 202.25 Td (a ) Tj ET Q q 0 0 0 rg BT 180.96 202.25 Td (constant ) Tj ET Q q 0 0 0 rg BT 217.71 202.25 Td (currency ) Tj ET Q q 0 0 0 rg BT 254.95 202.25 Td (basis, ) Tj ET Q q 0 0 0 rg BT 281.20 202.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 316.45 202.25 Td (increased ) Tj ET Q q 0 0 0 rg BT 358.21 202.25 Td (by ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 370.45 202.25 Td ($51.1 ) Tj ET Q q 0 0 0 rg BT 395.70 202.25 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 421.21 202.25 Td ( ) Tj ET Q q 0 0 0 rg BT 423.94 202.25 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.67 202.25 Td (14.4%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.19 202.25 Td (. ) Tj ET Q q 0 0 0 rg BT 465.25 202.25 Td (The ) Tj ET Q q 0 0 0 rg BT 483.49 202.25 Td (increase ) Tj ET Q q 0 0 0 rg BT 520.24 202.25 Td (in ) Tj ET Q q 0 0 0 rg BT 529.98 202.25 Td (revenue ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 188.75 Td (was ) Tj ET Q q 0 0 0 rg BT 94.05 188.75 Td (mainly ) Tj ET Q q 0 0 0 rg BT 126.11 188.75 Td (due ) Tj ET Q q 0 0 0 rg BT 147.18 188.75 Td (to ) Tj ET Q q 0 0 0 rg BT 160.73 188.75 Td (new ) Tj ET Q q 0 0 0 rg BT 183.29 188.75 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 235.87 188.75 Td (contracts ) Tj ET Q q 0 0 0 rg BT 278.44 188.75 Td (in ) Tj ET Q q 0 0 0 rg BT 291.49 188.75 Td (the ) Tj ET Q q 0 0 0 rg BT 310.05 188.75 Td (government ) Tj ET Q q 0 0 0 rg BT 363.63 188.75 Td (market ) Tj ET Q q 0 0 0 rg BT 397.18 188.75 Td (combined ) Tj ET Q q 0 0 0 rg BT 442.26 188.75 Td (with ) Tj ET Q q 0 0 0 rg BT 464.31 188.75 Td (higher ) Tj ET Q q 0 0 0 rg BT 495.38 188.75 Td (work ) Tj ET Q q 0 0 0 rg BT 520.43 188.75 Td (volume ) Tj ET Q q 0 0 0 rg BT 555.49 188.75 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 175.25 Td (telecommunications ) Tj ET Q q 0 0 0 rg BT 153.81 175.25 Td (& ) Tj ET Q q 0 0 0 rg BT 162.10 175.25 Td (utilities. ) Tj ET Q q 0 0 0 rg BT 194.38 175.25 Td (In ) Tj ET Q q 0 0 0 rg BT 204.17 175.25 Td (addition, ) Tj ET Q q 0 0 0 rg BT 240.47 175.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 275.28 175.25 Td (in ) Tj ET Q q 0 0 0 rg BT 284.56 175.25 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 298.84 175.25 Td (2016 ) Tj ET Q q 0 0 0 rg BT 321.14 175.25 Td (was ) Tj ET Q q 0 0 0 rg BT 339.43 175.25 Td (favourably ) Tj ET Q q 0 0 0 rg BT 383.23 175.25 Td (impacted ) Tj ET Q q 0 0 0 rg BT 422.03 175.25 Td (by ) Tj ET Q q 0 0 0 rg BT 433.81 175.25 Td (the ) Tj ET Q q 0 0 0 rg BT 448.60 175.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 467.39 175.25 Td (of ) Tj ET Q q 0 0 0 rg BT 477.17 175.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 517.98 175.25 Td (equipment. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 161.75 Td (The ) Tj ET Q q 0 0 0 rg BT 90.01 161.75 Td (growth ) Tj ET Q q 0 0 0 rg BT 119.52 161.75 Td (was ) Tj ET Q q 0 0 0 rg BT 138.03 161.75 Td (partly ) Tj ET Q q 0 0 0 rg BT 162.54 161.75 Td (of) Tj ET Q q 0 0 0 rg BT 169.88 161.75 Td (fset ) Tj ET Q q 0 0 0 rg BT 186.89 161.75 Td (by ) Tj ET Q q 0 0 0 rg BT 198.89 161.75 Td (lower ) Tj ET Q q 0 0 0 rg BT 222.90 161.75 Td (work ) Tj ET Q q 0 0 0 rg BT 244.40 161.75 Td (volume ) Tj ET Q q 0 0 0 rg BT 275.92 161.75 Td (with ) Tj ET Q q 0 0 0 rg BT 294.42 161.75 Td (a ) Tj ET Q q 0 0 0 rg BT 301.93 161.75 Td (client ) Tj ET Q q 0 0 0 rg BT 325.44 161.75 Td (in ) Tj ET Q q 0 0 0 rg BT 334.94 161.75 Td (the ) Tj ET Q q 0 0 0 rg BT 349.95 161.75 Td (MRD ) Tj ET Q q 0 0 0 rg BT 372.95 161.75 Td (vertical ) Tj ET Q q 0 0 0 rg BT 403.96 161.75 Td (market. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 142.25 Td (For ) Tj ET Q q 0 0 0 rg BT 88.09 142.25 Td (the ) Tj ET Q q 0 0 0 rg BT 103.19 142.25 Td (current ) Tj ET Q q 0 0 0 rg BT 133.79 142.25 Td (quarter) Tj ET Q q 0 0 0 rg BT 161.81 142.25 Td (, ) Tj ET Q q 0 0 0 rg BT 166.91 142.25 Td (U.K.) Tj ET Q q 0 0 0 rg BT 186.25 142.25 Td (s ) Tj ET Q q 0 0 0 rg BT 193.34 142.25 Td (top ) Tj ET Q q 0 0 0 rg BT 208.44 142.25 Td (two ) Tj ET Q q 0 0 0 rg BT 225.03 142.25 Td (vertical ) Tj ET Q q 0 0 0 rg BT 256.13 142.25 Td (markets ) Tj ET Q q 0 0 0 rg BT 290.73 142.25 Td (were ) Tj ET Q q 0 0 0 rg BT 312.83 142.25 Td (government ) Tj ET Q q 0 0 0 rg BT 362.94 142.25 Td (and ) Tj ET Q q 0 0 0 rg BT 380.55 142.25 Td (telecommunications ) Tj ET Q q 0 0 0 rg BT 462.68 142.25 Td (& ) Tj ET Q q 0 0 0 rg BT 471.27 142.25 Td (utilities, ) Tj ET Q q 0 0 0 rg BT 503.87 142.25 Td (which ) Tj ET Q q 0 0 0 rg BT 529.47 142.25 Td (together ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 128.75 Td (accounted ) Tj ET Q q 0 0 0 rg BT 116.03 128.75 Td (for ) Tj ET Q q 0 0 0 rg BT 129.04 128.75 Td (approximately ) Tj ET Q q 0 0 0 rg BT 187.56 128.75 Td (73% ) Tj ET Q q 0 0 0 rg BT 208.08 128.75 Td (of ) Tj ET Q q 0 0 0 rg BT 218.08 128.75 Td (its ) Tj ET Q q 0 0 0 rg BT 229.58 128.75 Td (revenue.) Tj ET Q endstream endobj 69 0 obj <> endobj 70 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (33) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (5.2.6. ) Tj ET Q q 0 0 0 rg BT 98.52 708.95 Td (ECS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 692.45 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 110.37 692.45 Td (from ) Tj ET Q q 0 0 0 rg BT 130.72 692.45 Td (our ) Tj ET Q q 0 0 0 rg BT 146.07 692.45 Td (ECS ) Tj ET Q q 0 0 0 rg BT 166.92 692.45 Td (segment ) Tj ET Q q 0 0 0 rg BT 203.78 692.45 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 222.13 692.45 Td ($288.4 ) Tj ET Q q 0 0 0 rg BT 252.01 692.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 277.51 692.45 Td ( ) Tj ET Q q 0 0 0 rg BT 279.86 692.45 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 289.21 692.45 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 303.56 692.45 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 323.58 692.45 Td (, ) Tj ET Q q 0 0 0 rg BT 328.43 692.45 Td (a ) Tj ET Q q 0 0 0 rg BT 335.78 692.45 Td (decrease ) Tj ET Q q 0 0 0 rg BT 375.15 692.45 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 385.00 692.45 Td ($7.3 ) Tj ET Q q 0 0 0 rg BT 404.86 692.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 430.37 692.45 Td ( ) Tj ET Q q 0 0 0 rg BT 432.71 692.45 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 443.06 692.45 Td (2.5%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 463.57 692.45 Td ( ) Tj ET Q q 0 0 0 rg BT 465.92 692.45 Td (when ) Tj ET Q q 0 0 0 rg BT 489.78 692.45 Td (compared ) Tj ET Q q 0 0 0 rg BT 532.14 692.45 Td (to ) Tj ET Q q 0 0 0 rg BT 542.00 692.45 Td (fiscal ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 678.95 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 92.02 678.95 Td (. ) Tj ET Q q 0 0 0 rg BT 97.00 678.95 Td (The ) Tj ET Q q 0 0 0 rg BT 115.17 678.95 Td (change ) Tj ET Q q 0 0 0 rg BT 147.35 678.95 Td (in ) Tj ET Q q 0 0 0 rg BT 157.01 678.95 Td (revenue ) Tj ET Q q 0 0 0 rg BT 192.19 678.95 Td (was ) Tj ET Q q 0 0 0 rg BT 210.84 678.95 Td (mostly ) Tj ET Q q 0 0 0 rg BT 239.50 678.95 Td (due ) Tj ET Q q 0 0 0 rg BT 257.17 678.95 Td (to ) Tj ET Q q 0 0 0 rg BT 267.33 678.95 Td (lower ) Tj ET Q q 0 0 0 rg BT 291.49 678.95 Td (work ) Tj ET Q q 0 0 0 rg BT 313.15 678.95 Td (volume ) Tj ET Q q 0 0 0 rg BT 344.82 678.95 Td (and ) Tj ET Q q 0 0 0 rg BT 362.49 678.95 Td (projects ) Tj ET Q q 0 0 0 rg BT 396.65 678.95 Td (completed ) Tj ET Q q 0 0 0 rg BT 440.83 678.95 Td (in ) Tj ET Q q 0 0 0 rg BT 450.49 678.95 Td (the ) Tj ET Q q 0 0 0 rg BT 465.66 678.95 Td (Netherlands, ) Tj ET Q q 0 0 0 rg BT 519.34 678.95 Td (lower ) Tj ET Q q 0 0 0 rg BT 543.50 678.95 Td (work ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 665.45 Td (volume ) Tj ET Q q 0 0 0 rg BT 103.34 665.45 Td (combined ) Tj ET Q q 0 0 0 rg BT 144.70 665.45 Td (with ) Tj ET Q q 0 0 0 rg BT 163.03 665.45 Td (the ) Tj ET Q q 0 0 0 rg BT 177.87 665.45 Td (divesting ) Tj ET Q q 0 0 0 rg BT 215.72 665.45 Td (of ) Tj ET Q q 0 0 0 rg BT 225.56 665.45 Td (certain ) Tj ET Q q 0 0 0 rg BT 254.90 665.45 Td (low ) Tj ET Q q 0 0 0 rg BT 270.73 665.45 Td (margin ) Tj ET Q q 0 0 0 rg BT 300.57 665.45 Td (contracts ) Tj ET Q q 0 0 0 rg BT 339.42 665.45 Td (in ) Tj ET Q q 0 0 0 rg BT 348.75 665.45 Td (Southern ) Tj ET Q q 0 0 0 rg BT 387.61 665.45 Td (Europe ) Tj ET Q q 0 0 0 rg BT 418.96 665.45 Td (and ) Tj ET Q q 0 0 0 rg BT 436.30 665.45 Td (the ) Tj ET Q q 0 0 0 rg BT 451.15 665.45 Td (wind-down ) Tj ET Q q 0 0 0 rg BT 496.50 665.45 Td (of ) Tj ET Q q 0 0 0 rg BT 506.33 665.45 Td (the ) Tj ET Q q 0 0 0 rg BT 521.17 665.45 Td (majority ) Tj ET Q q 0 0 0 rg BT 555.01 665.45 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 651.95 Td (our ) Tj ET Q q 0 0 0 rg BT 88.93 651.95 Td (operations ) Tj ET Q q 0 0 0 rg BT 134.88 651.95 Td (in ) Tj ET Q q 0 0 0 rg BT 145.81 651.95 Td (South ) Tj ET Q q 0 0 0 rg BT 172.47 651.95 Td (America. ) Tj ET Q q 0 0 0 rg BT 211.64 651.95 Td (This ) Tj ET Q q 0 0 0 rg BT 232.57 651.95 Td (was ) Tj ET Q q 0 0 0 rg BT 252.49 651.95 Td (partly ) Tj ET Q q 0 0 0 rg BT 278.42 651.95 Td (of) Tj ET Q q 0 0 0 rg BT 285.76 651.95 Td (fset ) Tj ET Q q 0 0 0 rg BT 304.19 651.95 Td (by ) Tj ET Q q 0 0 0 rg BT 317.62 651.95 Td (an ) Tj ET Q q 0 0 0 rg BT 331.55 651.95 Td (increased ) Tj ET Q q 0 0 0 rg BT 374.50 651.95 Td (work ) Tj ET Q q 0 0 0 rg BT 397.42 651.95 Td (volume ) Tj ET Q q 0 0 0 rg BT 430.35 651.95 Td (in ) Tj ET Q q 0 0 0 rg BT 441.28 651.95 Td (Germany ) Tj ET Q q 0 0 0 rg BT 482.21 651.95 Td (mainly ) Tj ET Q q 0 0 0 rg BT 512.14 651.95 Td (in ) Tj ET Q q 0 0 0 rg BT 523.07 651.95 Td (MRD ) Tj ET Q q 0 0 0 rg BT 547.48 651.95 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 638.45 Td (telecommunications ) Tj ET Q q 0 0 0 rg BT 154.04 638.45 Td (& ) Tj ET Q q 0 0 0 rg BT 162.54 638.45 Td (utilities ) Tj ET Q q 0 0 0 rg BT 192.55 638.45 Td (vertical ) Tj ET Q q 0 0 0 rg BT 223.56 638.45 Td (markets.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 618.95 Td (For ) Tj ET Q q 0 0 0 rg BT 87.30 618.95 Td (the ) Tj ET Q q 0 0 0 rg BT 101.61 618.95 Td (current ) Tj ET Q q 0 0 0 rg BT 131.42 618.95 Td (quarter) Tj ET Q q 0 0 0 rg BT 159.44 618.95 Td (, ) Tj ET Q q 0 0 0 rg BT 163.74 618.95 Td (ECS' ) Tj ET Q q 0 0 0 rg BT 185.76 618.95 Td (top ) Tj ET Q q 0 0 0 rg BT 200.07 618.95 Td (two ) Tj ET Q q 0 0 0 rg BT 215.87 618.95 Td (vertical ) Tj ET Q q 0 0 0 rg BT 246.18 618.95 Td (markets ) Tj ET Q q 0 0 0 rg BT 279.98 618.95 Td (were ) Tj ET Q q 0 0 0 rg BT 301.29 618.95 Td (MRD ) Tj ET Q q 0 0 0 rg BT 323.58 618.95 Td (and ) Tj ET Q q 0 0 0 rg BT 340.39 618.95 Td (telecommunications ) Tj ET Q q 0 0 0 rg BT 421.73 618.95 Td (& ) Tj ET Q q 0 0 0 rg BT 429.53 618.95 Td (utilities, ) Tj ET Q q 0 0 0 rg BT 461.34 618.95 Td (which ) Tj ET Q q 0 0 0 rg BT 486.15 618.95 Td (together ) Tj ET Q q 0 0 0 rg BT 520.97 618.95 Td (accounted ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 605.45 Td (for ) Tj ET Q q 0 0 0 rg BT 85.00 605.45 Td (approximately ) Tj ET Q q 0 0 0 rg BT 143.53 605.45 Td (64% ) Tj ET Q q 0 0 0 rg BT 164.04 605.45 Td (of ) Tj ET Q q 0 0 0 rg BT 174.05 605.45 Td (its ) Tj ET Q q 0 0 0 rg BT 185.55 605.45 Td (revenue.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 579.65 Td (5.2.7. ) Tj ET Q q 0 0 0 rg BT 98.18 579.65 Td (Asia ) Tj ET Q q 0 0 0 rg BT 119.70 579.65 Td (Pacific) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 563.15 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 110.77 563.15 Td (from ) Tj ET Q q 0 0 0 rg BT 131.52 563.15 Td (our ) Tj ET Q q 0 0 0 rg BT 146.73 563.15 Td (Asia ) Tj ET Q q 0 0 0 rg BT 166.99 563.15 Td (Pacific ) Tj ET Q q 0 0 0 rg BT 196.25 563.15 Td (segment ) Tj ET Q q 0 0 0 rg BT 233.51 563.15 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 252.27 563.15 Td ($142.2 ) Tj ET Q q 0 0 0 rg BT 282.54 563.15 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 308.05 563.15 Td ( ) Tj ET Q q 0 0 0 rg BT 310.80 563.15 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 320.55 563.15 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 335.31 563.15 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 355.33 563.15 Td (, ) Tj ET Q q 0 0 0 rg BT 360.58 563.15 Td (an ) Tj ET Q q 0 0 0 rg BT 373.34 563.15 Td (increase ) Tj ET Q q 0 0 0 rg BT 410.10 563.15 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 420.36 563.15 Td ($14.1 ) Tj ET Q q 0 0 0 rg BT 445.63 563.15 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 471.13 563.15 Td ( ) Tj ET Q q 0 0 0 rg BT 473.88 563.15 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 484.63 563.15 Td (1) Tj ET Q q 0 0 0 rg BT 488.97 563.15 Td (1.0%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 509.48 563.15 Td ( ) Tj ET Q q 0 0 0 rg BT 512.23 563.15 Td (compared ) Tj ET Q q 0 0 0 rg BT 555.00 563.15 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 549.65 Td (the ) Tj ET Q q 0 0 0 rg BT 87.01 549.65 Td (same ) Tj ET Q q 0 0 0 rg BT 111.51 549.65 Td (period ) Tj ET Q q 0 0 0 rg BT 139.02 549.65 Td (of ) Tj ET Q q 0 0 0 rg BT 149.03 549.65 Td (fiscal ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 172.03 549.65 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 192.05 549.65 Td (. ) Tj ET Q q 0 0 0 rg BT 197.04 549.65 Td (On ) Tj ET Q q 0 0 0 rg BT 211.54 549.65 Td (a ) Tj ET Q q 0 0 0 rg BT 219.05 549.65 Td (constant ) Tj ET Q q 0 0 0 rg BT 255.56 549.65 Td (currency ) Tj ET Q q 0 0 0 rg BT 292.57 549.65 Td (basis, ) Tj ET Q q 0 0 0 rg BT 318.58 549.65 Td (revenue ) Tj ET Q q 0 0 0 rg BT 353.60 549.65 Td (increased ) Tj ET Q q 0 0 0 rg BT 395.11 549.65 Td (by ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 407.12 549.65 Td ($18.2 ) Tj ET Q q 0 0 0 rg BT 432.13 549.65 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 457.64 549.65 Td ( ) Tj ET Q q 0 0 0 rg BT 460.13 549.65 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 470.63 549.65 Td (14.2%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 496.15 549.65 Td (. ) Tj ET Q q 0 0 0 rg BT 500.99 549.65 Td (The ) Tj ET Q q 0 0 0 rg BT 518.99 549.65 Td (increase ) Tj ET Q q 0 0 0 rg BT 555.50 549.65 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 536.15 Td (revenue ) Tj ET Q q 0 0 0 rg BT 107.52 536.15 Td (was ) Tj ET Q q 0 0 0 rg BT 126.52 536.15 Td (due ) Tj ET Q q 0 0 0 rg BT 144.53 536.15 Td (to ) Tj ET Q q 0 0 0 rg BT 155.03 536.15 Td (the ) Tj ET Q q 0 0 0 rg BT 170.54 536.15 Td (continued ) Tj ET Q q 0 0 0 rg BT 212.56 536.15 Td (increased ) Tj ET Q q 0 0 0 rg BT 254.58 536.15 Td (demand ) Tj ET Q q 0 0 0 rg BT 290.10 536.15 Td (of ) Tj ET Q q 0 0 0 rg BT 300.60 536.15 Td (our ) Tj ET Q q 0 0 0 rg BT 316.61 536.15 Td (of) Tj ET Q q 0 0 0 rg BT 323.95 536.15 Td (fshore ) Tj ET Q q 0 0 0 rg BT 351.96 536.15 Td (delivery ) Tj ET Q q 0 0 0 rg BT 385.97 536.15 Td (centers ) Tj ET Q q 0 0 0 rg BT 418.47 536.15 Td (across ) Tj ET Q q 0 0 0 rg BT 447.98 536.15 Td (our ) Tj ET Q q 0 0 0 rg BT 463.98 536.15 Td (segments, ) Tj ET Q q 0 0 0 rg BT 508.50 536.15 Td (as ) Tj ET Q q 0 0 0 rg BT 521.00 536.15 Td (our ) Tj ET Q q 0 0 0 rg BT 537.00 536.15 Td (clients ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 522.65 Td (continue ) Tj ET Q q 0 0 0 rg BT 108.53 522.65 Td (taking ) Tj ET Q q 0 0 0 rg BT 135.04 522.65 Td (advantage ) Tj ET Q q 0 0 0 rg BT 179.58 522.65 Td (of ) Tj ET Q q 0 0 0 rg BT 189.59 522.65 Td (our ) Tj ET Q q 0 0 0 rg BT 205.10 522.65 Td (global ) Tj ET Q q 0 0 0 rg BT 231.62 522.65 Td (delivery ) Tj ET Q q 0 0 0 rg BT 265.13 522.65 Td (network. ) Tj ET Q q 0 0 0 rg BT 301.48 522.65 Td (This ) Tj ET Q q 0 0 0 rg BT 320.99 522.65 Td (was ) Tj ET Q q 0 0 0 rg BT 339.49 522.65 Td (partly ) Tj ET Q q 0 0 0 rg BT 364.00 522.65 Td (of) Tj ET Q q 0 0 0 rg BT 371.34 522.65 Td (fset ) Tj ET Q q 0 0 0 rg BT 388.35 522.65 Td (by ) Tj ET Q q 0 0 0 rg BT 400.35 522.65 Td (lower ) Tj ET Q q 0 0 0 rg BT 424.36 522.65 Td (work ) Tj ET Q q 0 0 0 rg BT 445.86 522.65 Td (volumes ) Tj ET Q q 0 0 0 rg BT 481.88 522.65 Td (in ) Tj ET Q q 0 0 0 rg BT 490.89 522.65 Td (Australia. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 503.15 Td (For ) Tj ET Q q 0 0 0 rg BT 88.00 503.15 Td (the ) Tj ET Q q 0 0 0 rg BT 103.01 503.15 Td (current ) Tj ET Q q 0 0 0 rg BT 133.52 503.15 Td (quarter) Tj ET Q q 0 0 0 rg BT 161.54 503.15 Td (, ) Tj ET Q q 0 0 0 rg BT 166.04 503.15 Td (Asia ) Tj ET Q q 0 0 0 rg BT 186.04 503.15 Td (Pacific) Tj ET Q q 0 0 0 rg BT 214.39 503.15 Td (s ) Tj ET Q q 0 0 0 rg BT 221.39 503.15 Td (top ) Tj ET Q q 0 0 0 rg BT 236.40 503.15 Td (two ) Tj ET Q q 0 0 0 rg BT 252.90 503.15 Td (vertical ) Tj ET Q q 0 0 0 rg BT 283.90 503.15 Td (markets ) Tj ET Q q 0 0 0 rg BT 318.41 503.15 Td (were ) Tj ET Q q 0 0 0 rg BT 340.41 503.15 Td (telecommunications& ) Tj ET Q q 0 0 0 rg BT 430.95 503.15 Td (utilities ) Tj ET Q q 0 0 0 rg BT 460.96 503.15 Td (and ) Tj ET Q q 0 0 0 rg BT 478.47 503.15 Td (MRD, ) Tj ET Q q 0 0 0 rg BT 503.97 503.15 Td (which ) Tj ET Q q 0 0 0 rg BT 529.48 503.15 Td (together ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 489.65 Td (accounted ) Tj ET Q q 0 0 0 rg BT 116.03 489.65 Td (for ) Tj ET Q q 0 0 0 rg BT 129.04 489.65 Td (approximately ) Tj ET Q q 0 0 0 rg BT 187.56 489.65 Td (69% ) Tj ET Q q 0 0 0 rg BT 208.08 489.65 Td (of ) Tj ET Q q 0 0 0 rg BT 218.08 489.65 Td (its ) Tj ET Q q 0 0 0 rg BT 229.58 489.65 Td (revenue.) Tj ET Q endstream endobj 71 0 obj <> endobj 72 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (34) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (5.3. ) Tj ET Q q 0 0 0 rg BT 90.68 708.95 Td (ADJUSTED EBIT BY) Tj ET Q q 0 0 0 rg BT 177.03 708.95 Td ( SEGMENT) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 72.50 698.45 257.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 329.50 698.45 58.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 387.50 698.45 58.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 445.50 698.45 116.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 329.50 685.45 58.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 387.50 685.45 58.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 445.50 685.45 58.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 503.50 685.45 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.50 672.45 58.00 -12.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.50 660.45 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.50 647.45 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.50 634.45 58.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.50 627.45 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.50 614.45 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.50 601.45 58.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.50 594.45 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.50 581.45 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.50 568.45 58.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.50 561.45 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.50 548.45 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.50 535.45 58.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.50 528.45 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.50 515.45 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.50 502.45 58.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.50 495.45 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.50 482.45 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.50 469.45 58.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.50 462.45 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.50 449.45 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 329.50 436.45 58.00 -7.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 429.45 257.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 329.50 429.45 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 387.50 429.45 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 445.50 429.45 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 503.50 429.45 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 416.45 257.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 329.50 416.45 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 387.50 416.45 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 445.50 416.45 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 503.50 416.45 58.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 698.45 m 329.5 698.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 329.5 698.45 m 387.5 698.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 387.5 698.45 m 445.5 698.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445.5 698.45 m 503.5 698.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 698.45 m 561.5 698.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 403.45 m 329.5 403.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 329.5 403.45 m 387.5 403.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 387.5 403.45 m 445.5 403.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445.5 403.45 m 503.5 403.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 403.45 m 561.5 403.45 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 75.00 676.68 Td (For the three months ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 496.00 689.68 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 360.20 676.68 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 418.20 676.68 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 478.00 676.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 536.00 676.68 Td (%) Tj ET Q BT /F4 7.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 75.00 664.65 Td (In thousands of CAD except for percentages) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 652.13 Td (U.S.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.90 651.68 Td (128,494) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 408.90 651.68 Td (117,313) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.30 651.68 Td (11,181) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 534.05 651.68 Td (9.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.20 651.68 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 81.00 639.13 Td (As a percentage of U.S. revenue) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 358.25 638.73 Td (17.8) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 373.85 638.68 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 416.25 638.68 Td (15.6) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 431.85 638.63 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 619.13 Td (Nordics) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 355.30 618.68 Td (43,784) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 413.30 618.68 Td (30,176) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.30 618.68 Td (13,608) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 618.73 Td (45.1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.20 618.68 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 81.00 606.13 Td (As a percentage of Nordics revenue) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 358.25 605.73 Td (12.2) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 373.85 605.68 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 420.70 605.63 Td (8.2) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 431.85 605.63 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 586.13 Td (Canada) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 355.30 585.68 Td (94,136) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 413.30 585.68 Td (77,450) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.30 585.68 Td (16,686) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 585.73 Td (21.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.20 585.68 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 81.00 573.13 Td (As a percentage of Canada revenue) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 358.25 572.73 Td (24.3) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 373.85 572.68 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 416.25 572.68 Td (20.8) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 431.85 572.63 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 553.13 Td (France) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 355.30 552.68 Td (43,067) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 413.30 552.68 Td (35,806) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.80 552.73 Td (7,261) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 552.73 Td (20.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.20 552.68 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 81.00 540.13 Td (As a percentage of France revenue) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 358.25 539.73 Td (12.6) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 373.85 539.68 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 416.25 539.68 Td (11.4) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 431.85 539.63 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 520.13 Td (U.K.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 355.30 519.68 Td (28,698) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 413.30 519.68 Td (62,406) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.70 519.68 Td (\(33,708) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.85 519.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.95 519.68 Td (\(54.0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.20 519.68 Td (%\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 81.00 507.13 Td (As a percentage of U.K. revenue) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 362.70 506.68 Td (8.4) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 373.85 506.68 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 416.25 506.68 Td (17.6) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 431.85 506.63 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 487.13 Td (ECS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 355.30 486.68 Td (30,302) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 413.30 486.68 Td (36,886) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 473.15 486.68 Td (\(6,584) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.85 486.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.95 486.68 Td (\(17.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.20 486.68 Td (%\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 81.00 474.13 Td (As a percentage of ECS revenue) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 358.25 473.73 Td (10.5) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 373.85 473.68 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 416.25 473.68 Td (12.5) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 431.85 473.63 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 454.13 Td (Asia Pacific) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 355.30 453.68 Td (26,598) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 413.30 453.68 Td (18,927) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.80 453.73 Td (7,671) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 453.73 Td (40.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.20 453.68 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 81.00 441.13 Td (As a percentage of Asia Pacific revenue) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 358.25 440.73 Td (18.7) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 373.85 440.68 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 416.25 440.68 Td (14.8) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 431.85 440.63 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 421.13 Td (Adjusted EBIT) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.90 420.68 Td (395,079) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 408.90 420.68 Td (378,964) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.30 420.68 Td (16,115) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 534.05 420.68 Td (4.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.20 420.68 Td (%) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 81.00 408.13 Td (Adjusted EBIT margin) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 358.25 407.73 Td (15.3) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 373.85 407.68 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 416.25 407.68 Td (14.7) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 431.85 407.63 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 384.45 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 108.78 384.45 Td (EBIT) Tj ET Q q 0 0 0 rg BT 128.62 384.45 Td ( ) Tj ET Q q 0 0 0 rg BT 130.38 384.45 Td (for ) Tj ET Q q 0 0 0 rg BT 142.64 384.45 Td (the ) Tj ET Q q 0 0 0 rg BT 156.91 384.45 Td (quarter ) Tj ET Q q 0 0 0 rg BT 187.19 384.45 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 204.95 384.45 Td ($395.1 ) Tj ET Q q 0 0 0 rg BT 234.24 384.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 259.74 384.45 Td ( ) Tj ET Q q 0 0 0 rg BT 261.50 384.45 Td (an ) Tj ET Q q 0 0 0 rg BT 273.27 384.45 Td (increase ) Tj ET Q q 0 0 0 rg BT 309.05 384.45 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 318.31 384.45 Td ($16.1 ) Tj ET Q q 0 0 0 rg BT 342.59 384.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 368.10 384.45 Td ( ) Tj ET Q q 0 0 0 rg BT 369.85 384.45 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 379.62 384.45 Td (4.3%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 400.13 384.45 Td ( ) Tj ET Q q 0 0 0 rg BT 401.89 384.45 Td (from ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 421.65 384.45 Td (Q4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 433.65 384.45 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 435.41 384.45 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 455.43 384.45 Td (, ) Tj ET Q q 0 0 0 rg BT 459.69 384.45 Td (while ) Tj ET Q q 0 0 0 rg BT 481.96 384.45 Td (the ) Tj ET Q q 0 0 0 rg BT 496.23 384.45 Td (margin ) Tj ET Q q 0 0 0 rg BT 525.50 384.45 Td (improved ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 370.95 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.01 370.95 Td (15.3%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 107.53 370.95 Td ( ) Tj ET Q q 0 0 0 rg BT 110.03 370.95 Td (from ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 130.53 370.95 Td (14.7%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 156.05 370.95 Td (.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 345.15 Td (5.3.1. ) Tj ET Q q 0 0 0 rg BT 98.52 345.15 Td (U.S.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 328.65 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 108.93 328.65 Td (EBIT) Tj ET Q q 0 0 0 rg BT 128.77 328.65 Td ( ) Tj ET Q q 0 0 0 rg BT 130.67 328.65 Td (in ) Tj ET Q q 0 0 0 rg BT 139.57 328.65 Td (the ) Tj ET Q q 0 0 0 rg BT 153.99 328.65 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 173.39 328.65 Td (segment ) Tj ET Q q 0 0 0 rg BT 209.81 328.65 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 227.72 328.65 Td ($128.5 ) Tj ET Q q 0 0 0 rg BT 257.14 328.65 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 282.65 328.65 Td ( ) Tj ET Q q 0 0 0 rg BT 284.55 328.65 Td (for ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 296.95 328.65 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 310.86 328.65 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 330.88 328.65 Td (, ) Tj ET Q q 0 0 0 rg BT 335.28 328.65 Td (an ) Tj ET Q q 0 0 0 rg BT 347.20 328.65 Td (increase ) Tj ET Q q 0 0 0 rg BT 383.11 328.65 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.52 328.65 Td ($1) Tj ET Q q 0 0 0 rg BT 401.86 328.65 Td (1.2 ) Tj ET Q q 0 0 0 rg BT 416.28 328.65 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 441.78 328.65 Td ( ) Tj ET Q q 0 0 0 rg BT 443.68 328.65 Td (year-over-year) Tj ET Q q 0 0 0 rg BT 501.70 328.65 Td (. ) Tj ET Q q 0 0 0 rg BT 505.73 328.65 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 542.65 328.65 Td (EBIT) Tj ET Q q 0 0 0 rg BT 562.49 328.65 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 315.15 Td (margin ) Tj ET Q q 0 0 0 rg BT 102.05 315.15 Td (increased ) Tj ET Q q 0 0 0 rg BT 143.62 315.15 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 153.66 315.15 Td (17.8%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 179.18 315.15 Td ( ) Tj ET Q q 0 0 0 rg BT 181.72 315.15 Td (from ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 202.26 315.15 Td (15.6%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 227.78 315.15 Td ( ) Tj ET Q q 0 0 0 rg BT 230.32 315.15 Td (when ) Tj ET Q q 0 0 0 rg BT 254.38 315.15 Td (compared ) Tj ET Q q 0 0 0 rg BT 296.94 315.15 Td (to ) Tj ET Q q 0 0 0 rg BT 306.99 315.15 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 321.54 315.15 Td (2015 ) Tj ET Q q 0 0 0 rg BT 344.10 315.15 Td (mostly ) Tj ET Q q 0 0 0 rg BT 372.64 315.15 Td (due ) Tj ET Q q 0 0 0 rg BT 390.20 315.15 Td (to ) Tj ET Q q 0 0 0 rg BT 400.25 315.15 Td (additional ) Tj ET Q q 0 0 0 rg BT 441.32 315.15 Td (research ) Tj ET Q q 0 0 0 rg BT 478.87 315.15 Td (and ) Tj ET Q q 0 0 0 rg BT 496.43 315.15 Td (development ) Tj ET Q q 0 0 0 rg BT 550.51 315.15 Td (tax ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 301.65 Td (credits ) Tj ET Q q 0 0 0 rg BT 101.01 301.65 Td (and ) Tj ET Q q 0 0 0 rg BT 118.52 301.65 Td (the ) Tj ET Q q 0 0 0 rg BT 133.54 301.65 Td (decrease ) Tj ET Q q 0 0 0 rg BT 173.06 301.65 Td (in ) Tj ET Q q 0 0 0 rg BT 182.57 301.65 Td (amortization ) Tj ET Q q 0 0 0 rg BT 234.09 301.65 Td (of ) Tj ET Q q 0 0 0 rg BT 244.09 301.65 Td (client ) Tj ET Q q 0 0 0 rg BT 267.60 301.65 Td (relationships ) Tj ET Q q 0 0 0 rg BT 320.63 301.65 Td (related ) Tj ET Q q 0 0 0 rg BT 350.65 301.65 Td (to ) Tj ET Q q 0 0 0 rg BT 360.66 301.65 Td (the ) Tj ET Q q 0 0 0 rg BT 375.67 301.65 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 420.70 301.65 Td (of ) Tj ET Q q 0 0 0 rg BT 430.70 301.65 Td (Stanley) Tj ET Q q 0 0 0 rg BT 460.05 301.65 Td (, ) Tj ET Q q 0 0 0 rg BT 465.06 301.65 Td (Inc.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 275.85 Td (5.3.2. ) Tj ET Q q 0 0 0 rg BT 98.52 275.85 Td (Nordics) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 259.35 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 110.44 259.35 Td (EBIT) Tj ET Q q 0 0 0 rg BT 130.28 259.35 Td ( ) Tj ET Q q 0 0 0 rg BT 133.69 259.35 Td (in ) Tj ET Q q 0 0 0 rg BT 144.11 259.35 Td (the ) Tj ET Q q 0 0 0 rg BT 160.04 259.35 Td (Nordics ) Tj ET Q q 0 0 0 rg BT 193.96 259.35 Td (segment ) Tj ET Q q 0 0 0 rg BT 231.89 259.35 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 251.31 259.35 Td ($43.8 ) Tj ET Q q 0 0 0 rg BT 277.24 259.35 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 302.75 259.35 Td ( ) Tj ET Q q 0 0 0 rg BT 306.16 259.35 Td (for ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 320.08 259.35 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 335.50 259.35 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 355.52 259.35 Td (, ) Tj ET Q q 0 0 0 rg BT 361.43 259.35 Td (an ) Tj ET Q q 0 0 0 rg BT 374.86 259.35 Td (increase ) Tj ET Q q 0 0 0 rg BT 412.29 259.35 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 423.21 259.35 Td ($13.6 ) Tj ET Q q 0 0 0 rg BT 449.15 259.35 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 474.65 259.35 Td ( ) Tj ET Q q 0 0 0 rg BT 478.06 259.35 Td (year-over-year) Tj ET Q q 0 0 0 rg BT 536.09 259.35 Td (, ) Tj ET Q q 0 0 0 rg BT 542.00 259.35 Td (while ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 244.35 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 108.83 244.35 Td (EBIT) Tj ET Q q 0 0 0 rg BT 128.67 244.35 Td ( ) Tj ET Q q 0 0 0 rg BT 131.48 244.35 Td (margin ) Tj ET Q q 0 0 0 rg BT 161.79 244.35 Td (increased ) Tj ET Q q 0 0 0 rg BT 203.62 244.35 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 213.93 244.35 Td (12.2%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 239.45 244.35 Td ( ) Tj ET Q q 0 0 0 rg BT 242.25 244.35 Td (from ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 263.06 244.35 Td (8.2%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 283.57 244.35 Td ( ) Tj ET Q q 0 0 0 rg BT 286.38 244.35 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 296.19 244.35 Td (Q4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.19 244.35 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 311.00 244.35 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 331.02 244.35 Td (. ) Tj ET Q q 0 0 0 rg BT 336.14 244.35 Td (The ) Tj ET Q q 0 0 0 rg BT 354.45 244.35 Td (increase ) Tj ET Q q 0 0 0 rg BT 391.28 244.35 Td (in ) Tj ET Q q 0 0 0 rg BT 401.09 244.35 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 437.92 244.35 Td (EBIT) Tj ET Q q 0 0 0 rg BT 457.76 244.35 Td ( ) Tj ET Q q 0 0 0 rg BT 460.56 244.35 Td (margin ) Tj ET Q q 0 0 0 rg BT 490.88 244.35 Td (came ) Tj ET Q q 0 0 0 rg BT 515.69 244.35 Td (mainly ) Tj ET Q q 0 0 0 rg BT 544.50 244.35 Td (from ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 230.85 Td (the ) Tj ET Q q 0 0 0 rg BT 87.01 230.85 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 121.54 230.85 Td (cost ) Tj ET Q q 0 0 0 rg BT 140.55 230.85 Td (synergies ) Tj ET Q q 0 0 0 rg BT 181.57 230.85 Td (within ) Tj ET Q q 0 0 0 rg BT 207.08 230.85 Td (our ) Tj ET Q q 0 0 0 rg BT 222.59 230.85 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 277.61 230.85 Td (business ) Tj ET Q q 0 0 0 rg BT 315.63 230.85 Td (and ) Tj ET Q q 0 0 0 rg BT 333.15 230.85 Td (the ) Tj ET Q q 0 0 0 rg BT 348.16 230.85 Td (savings ) Tj ET Q q 0 0 0 rg BT 381.17 230.85 Td (generated ) Tj ET Q q 0 0 0 rg BT 424.21 230.85 Td (from ) Tj ET Q q 0 0 0 rg BT 444.71 230.85 Td (the ) Tj ET Q q 0 0 0 rg BT 459.72 230.85 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 512.24 230.85 Td (program.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 205.05 Td (5.3.3. ) Tj ET Q q 0 0 0 rg BT 98.52 205.05 Td (Canada) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 188.55 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 110.49 188.55 Td (EBIT) Tj ET Q q 0 0 0 rg BT 130.33 188.55 Td ( ) Tj ET Q q 0 0 0 rg BT 133.80 188.55 Td (in ) Tj ET Q q 0 0 0 rg BT 144.27 188.55 Td (the ) Tj ET Q q 0 0 0 rg BT 160.25 188.55 Td (Canada ) Tj ET Q q 0 0 0 rg BT 195.24 188.55 Td (segment ) Tj ET Q q 0 0 0 rg BT 233.23 188.55 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 252.70 188.55 Td ($94.1 ) Tj ET Q q 0 0 0 rg BT 278.69 188.55 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 304.20 188.55 Td ( ) Tj ET Q q 0 0 0 rg BT 307.67 188.55 Td (for ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 321.64 188.55 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 337.11 188.55 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 357.13 188.55 Td (, ) Tj ET Q q 0 0 0 rg BT 363.10 188.55 Td (an ) Tj ET Q q 0 0 0 rg BT 376.58 188.55 Td (increase ) Tj ET Q q 0 0 0 rg BT 414.06 188.55 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 425.03 188.55 Td ($16.7 ) Tj ET Q q 0 0 0 rg BT 451.02 188.55 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 476.53 188.55 Td ( ) Tj ET Q q 0 0 0 rg BT 480.00 188.55 Td (year-over-year ) Tj ET Q q 0 0 0 rg BT 541.98 188.55 Td (while ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 175.05 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 108.74 175.05 Td (EBIT) Tj ET Q q 0 0 0 rg BT 128.59 175.05 Td ( ) Tj ET Q q 0 0 0 rg BT 131.30 175.05 Td (margin ) Tj ET Q q 0 0 0 rg BT 161.53 175.05 Td (increased ) Tj ET Q q 0 0 0 rg BT 203.27 175.05 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 213.50 175.05 Td (24.3%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 239.02 175.05 Td ( ) Tj ET Q q 0 0 0 rg BT 241.73 175.05 Td (from ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 262.45 175.05 Td (20.8%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 287.97 175.05 Td (. ) Tj ET Q q 0 0 0 rg BT 293.01 175.05 Td (This ) Tj ET Q q 0 0 0 rg BT 312.73 175.05 Td (increase ) Tj ET Q q 0 0 0 rg BT 349.47 175.05 Td (was ) Tj ET Q q 0 0 0 rg BT 368.19 175.05 Td (mostly ) Tj ET Q q 0 0 0 rg BT 396.91 175.05 Td (the ) Tj ET Q q 0 0 0 rg BT 412.14 175.05 Td (result ) Tj ET Q q 0 0 0 rg BT 436.86 175.05 Td (of ) Tj ET Q q 0 0 0 rg BT 447.09 175.05 Td (an ) Tj ET Q q 0 0 0 rg BT 459.82 175.05 Td (improved ) Tj ET Q q 0 0 0 rg BT 499.55 175.05 Td (mix ) Tj ET Q q 0 0 0 rg BT 516.26 175.05 Td (of ) Tj ET Q q 0 0 0 rg BT 526.49 175.05 Td (IP-based ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 161.55 Td (services ) Tj ET Q q 0 0 0 rg BT 107.51 161.55 Td (and ) Tj ET Q q 0 0 0 rg BT 125.02 161.55 Td (solutions ) Tj ET Q q 0 0 0 rg BT 163.05 161.55 Td (revenue ) Tj ET Q q 0 0 0 rg BT 198.07 161.55 Td (related ) Tj ET Q q 0 0 0 rg BT 228.09 161.55 Td (to ) Tj ET Q q 0 0 0 rg BT 238.10 161.55 Td (license ) Tj ET Q q 0 0 0 rg BT 268.61 161.55 Td (sales.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 135.75 Td (5.3.4. ) Tj ET Q q 0 0 0 rg BT 98.52 135.75 Td (France) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 119.25 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 110.08 119.25 Td (EBIT) Tj ET Q q 0 0 0 rg BT 129.92 119.25 Td ( ) Tj ET Q q 0 0 0 rg BT 132.98 119.25 Td (in ) Tj ET Q q 0 0 0 rg BT 143.04 119.25 Td (the ) Tj ET Q q 0 0 0 rg BT 158.61 119.25 Td (France ) Tj ET Q q 0 0 0 rg BT 189.68 119.25 Td (segment ) Tj ET Q q 0 0 0 rg BT 227.25 119.25 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 246.32 119.25 Td ($43.1 ) Tj ET Q q 0 0 0 rg BT 271.90 119.25 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 297.40 119.25 Td ( ) Tj ET Q q 0 0 0 rg BT 300.46 119.25 Td (for ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 314.02 119.25 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 329.08 119.25 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 349.10 119.25 Td (, ) Tj ET Q q 0 0 0 rg BT 354.66 119.25 Td (an ) Tj ET Q q 0 0 0 rg BT 367.73 119.25 Td (increase ) Tj ET Q q 0 0 0 rg BT 404.80 119.25 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 415.37 119.25 Td ($7.3 ) Tj ET Q q 0 0 0 rg BT 435.94 119.25 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 461.45 119.25 Td ( ) Tj ET Q q 0 0 0 rg BT 464.50 119.25 Td (year-over-year) Tj ET Q q 0 0 0 rg BT 522.52 119.25 Td (. ) Tj ET Q q 0 0 0 rg BT 527.48 119.25 Td (Adjusted ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 105.75 Td (EBIT) Tj ET Q q 0 0 0 rg BT 91.84 105.75 Td ( ) Tj ET Q q 0 0 0 rg BT 94.67 105.75 Td (margin ) Tj ET Q q 0 0 0 rg BT 125.01 105.75 Td (improved ) Tj ET Q q 0 0 0 rg BT 164.86 105.75 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 175.20 105.75 Td (12.6%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 200.72 105.75 Td ( ) Tj ET Q q 0 0 0 rg BT 203.55 105.75 Td (from ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 224.38 105.75 Td (1) Tj ET Q q 0 0 0 rg BT 228.72 105.75 Td (1.4%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 249.23 105.75 Td (. ) Tj ET Q q 0 0 0 rg BT 254.38 105.75 Td (The ) Tj ET Q q 0 0 0 rg BT 272.72 105.75 Td (increase ) Tj ET Q q 0 0 0 rg BT 309.57 105.75 Td (in ) Tj ET Q q 0 0 0 rg BT 319.41 105.75 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 356.26 105.75 Td (EBIT) Tj ET Q q 0 0 0 rg BT 376.10 105.75 Td ( ) Tj ET Q q 0 0 0 rg BT 378.94 105.75 Td (margin ) Tj ET Q q 0 0 0 rg BT 409.28 105.75 Td (was ) Tj ET Q q 0 0 0 rg BT 428.11 105.75 Td (mostly ) Tj ET Q q 0 0 0 rg BT 456.95 105.75 Td (due ) Tj ET Q q 0 0 0 rg BT 474.80 105.75 Td (to ) Tj ET Q q 0 0 0 rg BT 485.13 105.75 Td (improved ) Tj ET Q q 0 0 0 rg BT 524.98 105.75 Td (utilization ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 92.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 94.51 92.25 Td (on ) Tj ET Q q 0 0 0 rg BT 107.02 92.25 Td (a ) Tj ET Q q 0 0 0 rg BT 114.53 92.25 Td (year-over-year ) Tj ET Q q 0 0 0 rg BT 175.54 92.25 Td (basis. ) Tj ET Q endstream endobj 73 0 obj <> endobj 74 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (35) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (5.3.5. ) Tj ET Q q 0 0 0 rg BT 98.52 708.95 Td (U.K.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 692.45 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 109.26 692.45 Td (EBIT) Tj ET Q q 0 0 0 rg BT 129.10 692.45 Td ( ) Tj ET Q q 0 0 0 rg BT 131.34 692.45 Td (in ) Tj ET Q q 0 0 0 rg BT 140.58 692.45 Td (the ) Tj ET Q q 0 0 0 rg BT 155.33 692.45 Td (U.K. ) Tj ET Q q 0 0 0 rg BT 175.07 692.45 Td (segment ) Tj ET Q q 0 0 0 rg BT 211.83 692.45 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 230.07 692.45 Td ($28.7 ) Tj ET Q q 0 0 0 rg BT 254.83 692.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 280.34 692.45 Td ( ) Tj ET Q q 0 0 0 rg BT 282.58 692.45 Td (for ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 295.32 692.45 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 309.56 692.45 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 329.58 692.45 Td (, ) Tj ET Q q 0 0 0 rg BT 334.32 692.45 Td (a ) Tj ET Q q 0 0 0 rg BT 341.56 692.45 Td (decrease ) Tj ET Q q 0 0 0 rg BT 380.83 692.45 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 390.57 692.45 Td ($33.7 ) Tj ET Q q 0 0 0 rg BT 415.33 692.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 440.84 692.45 Td ( ) Tj ET Q q 0 0 0 rg BT 443.07 692.45 Td (year-over-year) Tj ET Q q 0 0 0 rg BT 501.09 692.45 Td (. ) Tj ET Q q 0 0 0 rg BT 505.39 692.45 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 542.65 692.45 Td (EBIT) Tj ET Q q 0 0 0 rg BT 562.49 692.45 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 678.95 Td (margin ) Tj ET Q q 0 0 0 rg BT 101.44 678.95 Td (decreased ) Tj ET Q q 0 0 0 rg BT 145.41 678.95 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 154.85 678.95 Td (8.4%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 175.36 678.95 Td ( ) Tj ET Q q 0 0 0 rg BT 177.29 678.95 Td (from ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 197.23 678.95 Td (17.6%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 222.75 678.95 Td ( ) Tj ET Q q 0 0 0 rg BT 224.68 678.95 Td (due ) Tj ET Q q 0 0 0 rg BT 241.63 678.95 Td (mostly ) Tj ET Q q 0 0 0 rg BT 269.57 678.95 Td (to ) Tj ET Q q 0 0 0 rg BT 279.01 678.95 Td (the ) Tj ET Q q 0 0 0 rg BT 293.45 678.95 Td (positive ) Tj ET Q q 0 0 0 rg BT 325.90 678.95 Td (impact ) Tj ET Q q 0 0 0 rg BT 354.35 678.95 Td (of ) Tj ET Q q 0 0 0 rg BT 363.79 678.95 Td (additional ) Tj ET Q q 0 0 0 rg BT 404.25 678.95 Td (change ) Tj ET Q q 0 0 0 rg BT 435.71 678.95 Td (orders ) Tj ET Q q 0 0 0 rg BT 463.16 678.95 Td (on ) Tj ET Q q 0 0 0 rg BT 475.10 678.95 Td (certain ) Tj ET Q q 0 0 0 rg BT 504.05 678.95 Td (large ) Tj ET Q q 0 0 0 rg BT 526.00 678.95 Td (contracts ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 665.45 Td (in ) Tj ET Q q 0 0 0 rg BT 81.51 665.45 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 96.01 665.45 Td (2015 ) Tj ET Q q 0 0 0 rg BT 118.53 665.45 Td (and ) Tj ET Q q 0 0 0 rg BT 136.05 665.45 Td (a ) Tj ET Q q 0 0 0 rg BT 143.56 665.45 Td (provision ) Tj ET Q q 0 0 0 rg BT 182.07 665.45 Td (taken ) Tj ET Q q 0 0 0 rg BT 206.59 665.45 Td (on ) Tj ET Q q 0 0 0 rg BT 219.10 665.45 Td (a ) Tj ET Q q 0 0 0 rg BT 226.61 665.45 Td (client ) Tj ET Q q 0 0 0 rg BT 250.12 665.45 Td (contract ) Tj ET Q q 0 0 0 rg BT 284.63 665.45 Td (in ) Tj ET Q q 0 0 0 rg BT 294.14 665.45 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 308.65 665.45 Td (2016.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 639.65 Td (5.3.6. ) Tj ET Q q 0 0 0 rg BT 98.52 639.65 Td (ECS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 623.15 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 109.05 623.15 Td (EBIT) Tj ET Q q 0 0 0 rg BT 128.89 623.15 Td ( ) Tj ET Q q 0 0 0 rg BT 130.91 623.15 Td (in ) Tj ET Q q 0 0 0 rg BT 139.94 623.15 Td (the ) Tj ET Q q 0 0 0 rg BT 154.47 623.15 Td (ECS ) Tj ET Q q 0 0 0 rg BT 175.00 623.15 Td (segment ) Tj ET Q q 0 0 0 rg BT 211.54 623.15 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 229.56 623.15 Td ($30.3 ) Tj ET Q q 0 0 0 rg BT 254.11 623.15 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 279.61 623.15 Td ( ) Tj ET Q q 0 0 0 rg BT 281.64 623.15 Td (for ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 294.16 623.15 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 308.19 623.15 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 328.21 623.15 Td (, ) Tj ET Q q 0 0 0 rg BT 332.73 623.15 Td (a ) Tj ET Q q 0 0 0 rg BT 339.76 623.15 Td (decrease ) Tj ET Q q 0 0 0 rg BT 378.81 623.15 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.33 623.15 Td ($6.6 ) Tj ET Q q 0 0 0 rg BT 407.87 623.15 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 433.38 623.15 Td ( ) Tj ET Q q 0 0 0 rg BT 435.40 623.15 Td (year-over-year) Tj ET Q q 0 0 0 rg BT 493.42 623.15 Td (, ) Tj ET Q q 0 0 0 rg BT 497.94 623.15 Td (while ) Tj ET Q q 0 0 0 rg BT 520.48 623.15 Td (the ) Tj ET Q q 0 0 0 rg BT 535.01 623.15 Td (margin ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 608.15 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 89.69 608.15 Td (10.5%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 115.21 608.15 Td ( ) Tj ET Q q 0 0 0 rg BT 116.89 608.15 Td (compared ) Tj ET Q q 0 0 0 rg BT 158.60 608.15 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 167.79 608.15 Td (12.5%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 193.30 608.15 Td ( ) Tj ET Q q 0 0 0 rg BT 194.99 608.15 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 203.68 608.15 Td (Q4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.68 608.15 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 217.37 608.15 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 237.39 608.15 Td (. ) Tj ET Q q 0 0 0 rg BT 241.46 608.15 Td (The ) Tj ET Q q 0 0 0 rg BT 258.65 608.15 Td (change ) Tj ET Q q 0 0 0 rg BT 289.86 608.15 Td (in ) Tj ET Q q 0 0 0 rg BT 298.55 608.15 Td (margin ) Tj ET Q q 0 0 0 rg BT 327.75 608.15 Td (was ) Tj ET Q q 0 0 0 rg BT 345.43 608.15 Td (mostly ) Tj ET Q q 0 0 0 rg BT 373.12 608.15 Td (due ) Tj ET Q q 0 0 0 rg BT 389.82 608.15 Td (to ) Tj ET Q q 0 0 0 rg BT 399.01 608.15 Td (the ) Tj ET Q q 0 0 0 rg BT 413.20 608.15 Td (revenue ) Tj ET Q q 0 0 0 rg BT 447.41 608.15 Td (impacts ) Tj ET Q q 0 0 0 rg BT 480.10 608.15 Td (from ) Tj ET Q q 0 0 0 rg BT 499.79 608.15 Td (the ) Tj ET Q q 0 0 0 rg BT 513.98 608.15 Td (Netherlands ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 594.65 Td (described ) Tj ET Q q 0 0 0 rg BT 113.52 594.65 Td (in ) Tj ET Q q 0 0 0 rg BT 123.03 594.65 Td (the ) Tj ET Q q 0 0 0 rg BT 138.04 594.65 Td (revenue ) Tj ET Q q 0 0 0 rg BT 173.07 594.65 Td (section.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 568.85 Td (5.3.7. ) Tj ET Q q 0 0 0 rg BT 98.18 568.85 Td (Asia ) Tj ET Q q 0 0 0 rg BT 119.70 568.85 Td (Pacific) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 552.35 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 109.84 552.35 Td (EBIT) Tj ET Q q 0 0 0 rg BT 129.68 552.35 Td ( ) Tj ET Q q 0 0 0 rg BT 132.50 552.35 Td (in ) Tj ET Q q 0 0 0 rg BT 142.32 552.35 Td (the ) Tj ET Q q 0 0 0 rg BT 157.08 552.35 Td (Asia ) Tj ET Q q 0 0 0 rg BT 177.41 552.35 Td (Pacific ) Tj ET Q q 0 0 0 rg BT 206.73 552.35 Td (segment ) Tj ET Q q 0 0 0 rg BT 244.07 552.35 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 262.89 552.35 Td ($26.6 ) Tj ET Q q 0 0 0 rg BT 288.22 552.35 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 313.73 552.35 Td ( ) Tj ET Q q 0 0 0 rg BT 316.54 552.35 Td (for ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 329.86 552.35 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 344.68 552.35 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 364.71 552.35 Td (, ) Tj ET Q q 0 0 0 rg BT 370.02 552.35 Td (an ) Tj ET Q q 0 0 0 rg BT 382.85 552.35 Td (increase ) Tj ET Q q 0 0 0 rg BT 419.68 552.35 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 430.00 552.35 Td ($7.7 ) Tj ET Q q 0 0 0 rg BT 450.33 552.35 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 475.84 552.35 Td ( ) Tj ET Q q 0 0 0 rg BT 478.66 552.35 Td (year-over-year) Tj ET Q q 0 0 0 rg BT 536.68 552.35 Td (, ) Tj ET Q q 0 0 0 rg BT 541.99 552.35 Td (while ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 538.85 Td (the ) Tj ET Q q 0 0 0 rg BT 87.45 538.85 Td (margin ) Tj ET Q q 0 0 0 rg BT 117.90 538.85 Td (increased ) Tj ET Q q 0 0 0 rg BT 159.86 538.85 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 170.31 538.85 Td (18.7%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 195.83 538.85 Td ( ) Tj ET Q q 0 0 0 rg BT 198.77 538.85 Td (from ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 219.71 538.85 Td (14.8%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 245.23 538.85 Td (. ) Tj ET Q q 0 0 0 rg BT 250.48 538.85 Td (This ) Tj ET Q q 0 0 0 rg BT 270.42 538.85 Td (was ) Tj ET Q q 0 0 0 rg BT 289.36 538.85 Td (mainly ) Tj ET Q q 0 0 0 rg BT 318.31 538.85 Td (due ) Tj ET Q q 0 0 0 rg BT 336.27 538.85 Td (to ) Tj ET Q q 0 0 0 rg BT 346.71 538.85 Td (productivity ) Tj ET Q q 0 0 0 rg BT 395.17 538.85 Td (improvements ) Tj ET Q q 0 0 0 rg BT 454.63 538.85 Td (across ) Tj ET Q q 0 0 0 rg BT 484.08 538.85 Td (their ) Tj ET Q q 0 0 0 rg BT 504.53 538.85 Td (global ) Tj ET Q q 0 0 0 rg BT 531.49 538.85 Td (delivery ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 525.35 Td (centers. ) Tj ET Q q 0 0 0 rg BT 106.38 525.35 Td (In ) Tj ET Q q 0 0 0 rg BT 116.26 525.35 Td (addition, ) Tj ET Q q 0 0 0 rg BT 152.66 525.35 Td (during ) Tj ET Q q 0 0 0 rg BT 180.04 525.35 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 194.42 525.35 Td (2015, ) Tj ET Q q 0 0 0 rg BT 219.31 525.35 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 255.71 525.35 Td (EBIT) Tj ET Q q 0 0 0 rg BT 275.55 525.35 Td ( ) Tj ET Q q 0 0 0 rg BT 277.92 525.35 Td (margin ) Tj ET Q q 0 0 0 rg BT 307.80 525.35 Td (was ) Tj ET Q q 0 0 0 rg BT 326.17 525.35 Td (unfavourably ) Tj ET Q q 0 0 0 rg BT 380.08 525.35 Td (impacted ) Tj ET Q q 0 0 0 rg BT 418.96 525.35 Td (by ) Tj ET Q q 0 0 0 rg BT 430.84 525.35 Td (of ) Tj ET Q q 0 0 0 rg BT 440.71 525.35 Td (a ) Tj ET Q q 0 0 0 rg BT 448.09 525.35 Td (provision ) Tj ET Q q 0 0 0 rg BT 486.48 525.35 Td (on ) Tj ET Q q 0 0 0 rg BT 498.86 525.35 Td (a ) Tj ET Q q 0 0 0 rg BT 506.23 525.35 Td (contract ) Tj ET Q q 0 0 0 rg BT 540.62 525.35 Td (in ) Tj ET Q q 0 0 0 rg BT 549.99 525.35 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 511.85 Td (Middle ) Tj ET Q q 0 0 0 rg BT 101.01 511.85 Td (East.) Tj ET Q endstream endobj 75 0 obj <> endobj 76 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (36) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (5.4. ) Tj ET Q q 0 0 0 rg BT 91.01 708.95 Td (NET ) Tj ET Q q 0 0 0 rg BT 111.51 708.95 Td (EARNINGS ) Tj ET Q q 0 0 0 rg BT 161.18 708.95 Td (AND ) Tj ET Q q 0 0 0 rg BT 183.18 708.95 Td (EARNINGS ) Tj ET Q q 0 0 0 rg BT 233.19 708.95 Td (PER ) Tj ET Q q 0 0 0 rg BT 254.19 708.95 Td (SHARE) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 692.45 Td (The ) Tj ET Q q 0 0 0 rg BT 90.01 692.45 Td (following ) Tj ET Q q 0 0 0 rg BT 127.53 692.45 Td (table ) Tj ET Q q 0 0 0 rg BT 149.55 692.45 Td (sets ) Tj ET Q q 0 0 0 rg BT 168.55 692.45 Td (out ) Tj ET Q q 0 0 0 rg BT 183.56 692.45 Td (the ) Tj ET Q q 0 0 0 rg BT 198.58 692.45 Td (information ) Tj ET Q q 0 0 0 rg BT 245.60 692.45 Td (supporting ) Tj ET Q q 0 0 0 rg BT 290.13 692.45 Td (the ) Tj ET Q q 0 0 0 rg BT 305.14 692.45 Td (earnings ) Tj ET Q q 0 0 0 rg BT 342.16 692.45 Td (per ) Tj ET Q q 0 0 0 rg BT 357.67 692.45 Td (share ) Tj ET Q q 0 0 0 rg BT 382.68 692.45 Td (calculations:) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 72.50 681.95 261.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 333.50 681.95 114.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 447.50 681.95 114.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 333.50 668.95 57.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 390.50 668.95 57.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 447.50 668.95 57.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 504.50 668.95 57.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 333.50 655.95 57.00 -12.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 333.50 643.95 57.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 333.50 630.95 57.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 333.50 617.95 57.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 333.50 604.95 57.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 591.95 261.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 333.50 591.95 57.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 390.50 591.95 57.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 447.50 591.95 57.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 504.50 591.95 57.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 333.50 578.95 57.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 333.50 565.95 57.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 333.50 552.95 57.00 -7.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 545.95 261.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 333.50 545.95 57.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 390.50 545.95 57.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 447.50 545.95 57.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 504.50 545.95 57.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 532.95 261.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 333.50 532.95 57.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 390.50 532.95 57.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 447.50 532.95 57.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 504.50 532.95 57.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 333.50 519.95 57.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 333.50 512.95 57.00 -20.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 333.50 492.95 57.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 333.50 485.95 57.00 -18.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 333.50 467.95 57.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 333.50 460.95 57.00 -18.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 333.50 442.95 57.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 333.50 435.95 57.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 333.50 422.95 57.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 333.50 409.95 57.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 333.50 396.95 57.00 -4.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 681.95 m 333.5 681.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 333.5 681.95 m 390.5 681.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 681.95 m 447.5 681.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 447.5 681.95 m 504.5 681.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504.5 681.95 m 561.5 681.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 392.95 m 333.5 392.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 333.5 392.95 m 390.5 392.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 392.95 m 447.5 392.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 447.5 392.95 m 504.5 392.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504.5 392.95 m 561.5 392.95 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 75.00 660.18 Td (For the three months ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 495.00 673.18 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 363.20 660.43 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 420.20 660.43 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 483.00 660.43 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 534.00 660.43 Td (%) Tj ET Q BT /F4 7.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 75.00 648.15 Td (In thousands of CAD except for percentage and shares data) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 635.43 Td (Adjusted EBIT) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.90 635.43 Td (395,079) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 410.90 635.43 Td (378,964) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.30 635.43 Td (16,115) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 534.05 635.43 Td (4.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.20 635.43 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 75.00 622.38 Td (Minus the following items:) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 87.00 609.43 Td (Restructuring costs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 374.80 609.43 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 415.30 609.43 Td (35,903) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.70 609.43 Td (\(35,903) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.85 609.43 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.50 609.43 Td (\(100.0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.20 609.43 Td (%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 87.00 596.43 Td (Net finance costs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 358.30 596.43 Td (17,623) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 415.30 596.43 Td (23,984) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.15 596.43 Td (\(6,361) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.85 596.43 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.95 596.43 Td (\(26.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.20 596.43 Td (%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 583.18 Td (Earnings before income taxes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.90 583.18 Td (377,456) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 410.90 583.18 Td (319,077) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.30 583.18 Td (58,379) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 583.23 Td (18.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.20 583.18 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 570.43 Td (Income tax expense) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.90 570.43 Td (103,021) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 415.30 570.43 Td (86,188) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.30 570.43 Td (16,833) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 570.48 Td (19.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.20 570.43 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 87.00 557.38 Td (Effective tax rate) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 361.25 557.48 Td (27.3) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 376.85 557.43 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 418.25 557.43 Td (27.0) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 433.85 557.38 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 537.18 Td (Net earnings) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.90 537.18 Td (274,435) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 410.90 537.18 Td (232,889) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.30 537.18 Td (41,546) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 537.23 Td (17.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.20 537.18 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 87.00 524.18 Td (Margin) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.25 524.23 Td (10.6) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.85 524.18 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 422.70 524.18 Td (9.0) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 433.85 524.18 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 500.93 Td (Weighted average number of shares) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 477.63 Td (Class A subordinate voting shares and Class B multiple voting shares) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 469.68 Td (\(basic\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.30 474.93 Td (303,203,548) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 396.25 474.93 Td (309,337,317) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.40 474.93 Td (\(2.0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.20 474.93 Td (%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 452.63 Td (Class A subordinate voting shares and Class B multiple voting shares) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 444.68 Td (\(diluted\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.30 449.93 Td (309,569,738) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 396.25 449.93 Td (318,572,873) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.40 449.93 Td (\(2.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.20 449.93 Td (%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 427.43 Td (Earnings per share \(in dollars\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 414.43 Td (Basic EPS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.25 414.23 Td (0.91) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 424.25 414.23 Td (0.75) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 481.25 414.23 Td (0.16) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 414.48 Td (21.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.20 414.43 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 401.43 Td (Diluted EPS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.25 401.23 Td (0.89) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 424.25 401.23 Td (0.73) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 481.25 401.23 Td (0.16) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 401.48 Td (21.9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.20 401.43 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 373.95 Td (For ) Tj ET Q q 0 0 0 rg BT 88.60 373.95 Td (the ) Tj ET Q q 0 0 0 rg BT 104.22 373.95 Td (current ) Tj ET Q q 0 0 0 rg BT 135.33 373.95 Td (quarter) Tj ET Q q 0 0 0 rg BT 163.35 373.95 Td (, ) Tj ET Q q 0 0 0 rg BT 168.95 373.95 Td (the ) Tj ET Q q 0 0 0 rg BT 184.57 373.95 Td (increase ) Tj ET Q q 0 0 0 rg BT 221.69 373.95 Td (in ) Tj ET Q q 0 0 0 rg BT 231.79 373.95 Td (earnings ) Tj ET Q q 0 0 0 rg BT 269.42 373.95 Td (before ) Tj ET Q q 0 0 0 rg BT 298.04 373.95 Td (income ) Tj ET Q q 0 0 0 rg BT 330.16 373.95 Td (taxes ) Tj ET Q q 0 0 0 rg BT 354.77 373.95 Td (mainly ) Tj ET Q q 0 0 0 rg BT 383.88 373.95 Td (came ) Tj ET Q q 0 0 0 rg BT 408.99 373.95 Td (from ) Tj ET Q q 0 0 0 rg BT 430.09 373.95 Td (the ) Tj ET Q q 0 0 0 rg BT 445.71 373.95 Td (increase ) Tj ET Q q 0 0 0 rg BT 482.83 373.95 Td (in ) Tj ET Q q 0 0 0 rg BT 492.93 373.95 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 530.06 373.95 Td (EBIT) Tj ET Q q 0 0 0 rg BT 549.91 373.95 Td ( ) Tj ET Q q 0 0 0 rg BT 553.01 373.95 Td (as ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 360.45 Td (described ) Tj ET Q q 0 0 0 rg BT 113.52 360.45 Td (in ) Tj ET Q q 0 0 0 rg BT 123.03 360.45 Td (section ) Tj ET Q q 0 0 0 rg BT 154.05 360.45 Td (5.3 ) Tj ET Q q 0 0 0 rg BT 169.06 360.45 Td (of ) Tj ET Q q 0 0 0 rg BT 179.06 360.45 Td (the ) Tj ET Q q 0 0 0 rg BT 194.08 360.45 Td (present ) Tj ET Q q 0 0 0 rg BT 226.60 360.45 Td (document. ) Tj ET Q q 0 0 0 rg BT 271.12 360.45 Td (In ) Tj ET Q q 0 0 0 rg BT 281.13 360.45 Td (addition, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 317.65 360.45 Td ($35.9 ) Tj ET Q q 0 0 0 rg BT 342.68 360.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 368.18 360.45 Td ( ) Tj ET Q q 0 0 0 rg BT 370.68 360.45 Td (of ) Tj ET Q q 0 0 0 rg BT 380.69 360.45 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 433.21 360.45 Td (costs ) Tj ET Q q 0 0 0 rg BT 456.71 360.45 Td (were ) Tj ET Q q 0 0 0 rg BT 478.72 360.45 Td (incurred ) Tj ET Q q 0 0 0 rg BT 513.74 360.45 Td (in ) Tj ET Q q 0 0 0 rg BT 523.24 360.45 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 537.75 360.45 Td (2015.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 340.95 Td (In ) Tj ET Q q 0 0 0 rg BT 82.02 340.95 Td (Q4 ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 96.53 340.95 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 116.55 340.95 Td (, ) Tj ET Q q 0 0 0 rg BT 121.56 340.95 Td (the ) Tj ET Q q 0 0 0 rg BT 136.59 340.95 Td (income ) Tj ET Q q 0 0 0 rg BT 168.11 340.95 Td (tax ) Tj ET Q q 0 0 0 rg BT 182.63 340.95 Td (expense ) Tj ET Q q 0 0 0 rg BT 219.16 340.95 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 237.68 340.95 Td ($103.0 ) Tj ET Q q 0 0 0 rg BT 267.71 340.95 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 293.22 340.95 Td (, ) Tj ET Q q 0 0 0 rg BT 298.23 340.95 Td (an ) Tj ET Q q 0 0 0 rg BT 310.75 340.95 Td (increase ) Tj ET Q q 0 0 0 rg BT 347.28 340.95 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 357.30 340.95 Td ($16.8 ) Tj ET Q q 0 0 0 rg BT 382.33 340.95 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 407.83 340.95 Td ( ) Tj ET Q q 0 0 0 rg BT 410.35 340.95 Td (compared ) Tj ET Q q 0 0 0 rg BT 452.88 340.95 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 462.89 340.95 Td ($86.2 ) Tj ET Q q 0 0 0 rg BT 487.92 340.95 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 513.43 340.95 Td ( ) Tj ET Q q 0 0 0 rg BT 515.94 340.95 Td (in ) Tj ET Q q 0 0 0 rg BT 525.46 340.95 Td (Q4 ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 539.97 340.95 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 559.99 340.95 Td (, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 327.45 Td (while ) Tj ET Q q 0 0 0 rg BT 95.12 327.45 Td (our ) Tj ET Q q 0 0 0 rg BT 110.74 327.45 Td (ef) Tj ET Q q 0 0 0 rg BT 118.08 327.45 Td (fective ) Tj ET Q q 0 0 0 rg BT 146.71 327.45 Td (income ) Tj ET Q q 0 0 0 rg BT 178.33 327.45 Td (tax ) Tj ET Q q 0 0 0 rg BT 192.95 327.45 Td (rate ) Tj ET Q q 0 0 0 rg BT 211.07 327.45 Td (increased ) Tj ET Q q 0 0 0 rg BT 252.70 327.45 Td (from ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 273.32 327.45 Td (27.0%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 298.84 327.45 Td ( ) Tj ET Q q 0 0 0 rg BT 301.45 327.45 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 311.56 327.45 Td (27.3%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 337.08 327.45 Td (. ) Tj ET Q q 0 0 0 rg BT 342.03 327.45 Td (The ) Tj ET Q q 0 0 0 rg BT 360.15 327.45 Td (increase ) Tj ET Q q 0 0 0 rg BT 396.78 327.45 Td (in ) Tj ET Q q 0 0 0 rg BT 406.39 327.45 Td (income ) Tj ET Q q 0 0 0 rg BT 438.02 327.45 Td (tax ) Tj ET Q q 0 0 0 rg BT 452.64 327.45 Td (rate ) Tj ET Q q 0 0 0 rg BT 470.76 327.45 Td (was ) Tj ET Q q 0 0 0 rg BT 489.37 327.45 Td (mainly ) Tj ET Q q 0 0 0 rg BT 517.99 327.45 Td (attributable ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 313.95 Td (to ) Tj ET Q q 0 0 0 rg BT 82.01 313.95 Td (the ) Tj ET Q q 0 0 0 rg BT 97.02 313.95 Td (decrease ) Tj ET Q q 0 0 0 rg BT 136.54 313.95 Td (in ) Tj ET Q q 0 0 0 rg BT 146.05 313.95 Td (U.K ) Tj ET Q q 0 0 0 rg BT 163.55 313.95 Td (earnings ) Tj ET Q q 0 0 0 rg BT 200.58 313.95 Td (where ) Tj ET Q q 0 0 0 rg BT 227.59 313.95 Td (the ) Tj ET Q q 0 0 0 rg BT 242.60 313.95 Td (enacted ) Tj ET Q q 0 0 0 rg BT 277.13 313.95 Td (tax ) Tj ET Q q 0 0 0 rg BT 291.63 313.95 Td (rate ) Tj ET Q q 0 0 0 rg BT 309.64 313.95 Td (is ) Tj ET Q q 0 0 0 rg BT 318.64 313.95 Td (lower) Tj ET Q q 0 0 0 rg BT 339.65 313.95 Td (.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 294.45 Td (Net ) Tj ET Q q 0 0 0 rg BT 88.51 294.45 Td (earnings ) Tj ET Q q 0 0 0 rg BT 125.53 294.45 Td (were ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 147.54 294.45 Td ($274.4 ) Tj ET Q q 0 0 0 rg BT 177.57 294.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 203.07 294.45 Td (, ) Tj ET Q q 0 0 0 rg BT 208.07 294.45 Td (an ) Tj ET Q q 0 0 0 rg BT 220.58 294.45 Td (increase ) Tj ET Q q 0 0 0 rg BT 257.10 294.45 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 267.11 294.45 Td ($41.5 ) Tj ET Q q 0 0 0 rg BT 292.13 294.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 317.64 294.45 Td ( ) Tj ET Q q 0 0 0 rg BT 320.14 294.45 Td (compared ) Tj ET Q q 0 0 0 rg BT 362.66 294.45 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 372.67 294.45 Td ($232.9 ) Tj ET Q q 0 0 0 rg BT 402.69 294.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 428.20 294.45 Td ( ) Tj ET Q q 0 0 0 rg BT 430.70 294.45 Td (last ) Tj ET Q q 0 0 0 rg BT 447.21 294.45 Td (year) Tj ET Q q 0 0 0 rg BT 464.22 294.45 Td (.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 274.95 Td (The ) Tj ET Q q 0 0 0 rg BT 89.65 274.95 Td (table ) Tj ET Q q 0 0 0 rg BT 111.32 274.95 Td (in ) Tj ET Q q 0 0 0 rg BT 120.47 274.95 Td (section ) Tj ET Q q 0 0 0 rg BT 151.13 274.95 Td (5.4.1 ) Tj ET Q q 0 0 0 rg BT 173.29 274.95 Td (shows ) Tj ET Q q 0 0 0 rg BT 200.95 274.95 Td (the ) Tj ET Q q 0 0 0 rg BT 215.61 274.95 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 252.77 274.95 Td (year-over-year ) Tj ET Q q 0 0 0 rg BT 313.44 274.95 Td (comparison ) Tj ET Q q 0 0 0 rg BT 362.10 274.95 Td (of ) Tj ET Q q 0 0 0 rg BT 371.75 274.95 Td (the ) Tj ET Q q 0 0 0 rg BT 386.41 274.95 Td (tax ) Tj ET Q q 0 0 0 rg BT 400.56 274.95 Td (rate ) Tj ET Q q 0 0 0 rg BT 418.22 274.95 Td (with ) Tj ET Q q 0 0 0 rg BT 436.37 274.95 Td (the ) Tj ET Q q 0 0 0 rg BT 451.03 274.95 Td (impact ) Tj ET Q q 0 0 0 rg BT 479.68 274.95 Td (of ) Tj ET Q q 0 0 0 rg BT 489.34 274.95 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 541.50 274.95 Td (costs ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 261.45 Td (removed.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 241.95 Td (During ) Tj ET Q q 0 0 0 rg BT 101.01 241.95 Td (the ) Tj ET Q q 0 0 0 rg BT 116.02 241.95 Td (quarter) Tj ET Q q 0 0 0 rg BT 144.04 241.95 Td (, ) Tj ET Q q 0 0 0 rg BT 149.04 241.95 Td (no ) Tj ET Q q 0 0 0 rg BT 161.56 241.95 Td (Class ) Tj ET Q q 0 0 0 rg BT 186.06 241.95 Td (A) Tj ET Q q 0 0 0 rg BT 191.57 241.95 Td ( ) Tj ET Q q 0 0 0 rg BT 194.07 241.95 Td (subordinate ) Tj ET Q q 0 0 0 rg BT 243.61 241.95 Td (voting ) Tj ET Q q 0 0 0 rg BT 270.12 241.95 Td (shares ) Tj ET Q q 0 0 0 rg BT 299.64 241.95 Td (were ) Tj ET Q q 0 0 0 rg BT 321.64 241.95 Td (repurchased ) Tj ET Q q 0 0 0 rg BT 374.18 241.95 Td (while ) Tj ET Q q 0 0 0 rg BT 397.19 241.95 Td (924,816 ) Tj ET Q q 0 0 0 rg BT 432.22 241.95 Td (stock ) Tj ET Q q 0 0 0 rg BT 455.73 241.95 Td (options ) Tj ET Q q 0 0 0 rg BT 487.25 241.95 Td (were ) Tj ET Q q 0 0 0 rg BT 509.26 241.95 Td (exercised. ) Tj ET Q endstream endobj 77 0 obj <> endobj 78 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (37) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (5.4.1. ) Tj ET Q q 0 0 0 rg BT 98.52 708.95 Td (Net ) Tj ET Q q 0 0 0 rg BT 115.52 708.95 Td (Earnings ) Tj ET Q q 0 0 0 rg BT 156.53 708.95 Td (and ) Tj ET Q q 0 0 0 rg BT 175.03 708.95 Td (Earnings ) Tj ET Q q 0 0 0 rg BT 216.04 708.95 Td (per ) Tj ET Q q 0 0 0 rg BT 232.55 708.95 Td (Share ) Tj ET Q q 0 0 0 rg BT 260.06 708.95 Td (Excluding ) Tj ET Q q 0 0 0 rg BT 305.57 708.95 Td (Specific ) Tj ET Q q 0 0 0 rg BT 342.58 708.95 Td (Items) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 692.45 Td (Below ) Tj ET Q q 0 0 0 rg BT 99.01 692.45 Td (is ) Tj ET Q q 0 0 0 rg BT 108.01 692.45 Td (a ) Tj ET Q q 0 0 0 rg BT 115.52 692.45 Td (table ) Tj ET Q q 0 0 0 rg BT 137.54 692.45 Td (showing ) Tj ET Q q 0 0 0 rg BT 173.06 692.45 Td (the ) Tj ET Q q 0 0 0 rg BT 188.07 692.45 Td (year-over-year ) Tj ET Q q 0 0 0 rg BT 249.09 692.45 Td (comparison ) Tj ET Q q 0 0 0 rg BT 298.11 692.45 Td (excluding ) Tj ET Q q 0 0 0 rg BT 338.63 692.45 Td (specific ) Tj ET Q q 0 0 0 rg BT 371.14 692.45 Td (items ) Tj ET Q q 0 0 0 rg BT 395.15 692.45 Td (namely) Tj ET Q q 0 0 0 rg BT 423.49 692.45 Td (, ) Tj ET Q q 0 0 0 rg BT 428.49 692.45 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 481.01 692.45 Td (costs ) Tj ET Q q 0 0 0 rg BT 504.52 692.45 Td (:) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 72.50 681.95 258.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 330.50 681.95 58.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 388.50 681.95 58.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 446.50 681.95 116.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 330.50 668.95 58.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 388.50 668.95 58.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 446.50 668.95 58.00 -13.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 504.50 668.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 330.50 655.95 58.00 -12.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 330.50 643.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 330.50 630.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 330.50 617.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 604.95 258.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 330.50 604.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 388.50 604.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 446.50 604.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 504.50 604.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 330.50 591.95 58.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 330.50 584.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 330.50 571.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 330.50 558.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 545.95 258.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 330.50 545.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 388.50 545.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 446.50 545.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 504.50 545.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 532.95 258.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 330.50 532.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 388.50 532.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 446.50 532.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 504.50 532.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 330.50 519.95 58.00 -10.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 509.95 258.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 330.50 509.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 388.50 509.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 446.50 509.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 504.50 509.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 496.95 258.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 330.50 496.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 388.50 496.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 446.50 496.95 58.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 504.50 496.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 330.50 483.95 58.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 330.50 476.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 330.50 463.95 58.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 330.50 456.95 58.00 -18.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 330.50 438.95 58.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 330.50 431.95 58.00 -18.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 330.50 413.95 58.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 330.50 406.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 330.50 393.95 58.00 -7.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 330.50 386.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 330.50 373.95 58.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 330.50 360.95 58.00 -4.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 681.95 m 330.5 681.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 681.95 m 388.5 681.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 388.5 681.95 m 446.5 681.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446.5 681.95 m 504.5 681.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504.5 681.95 m 562.5 681.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 356.95 m 330.5 356.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 356.95 m 388.5 356.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 388.5 356.95 m 446.5 356.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446.5 356.95 m 504.5 356.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504.5 356.95 m 562.5 356.95 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 75.00 660.18 Td (For the three months ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 500.00 673.43 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 361.20 660.43 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 419.20 660.43 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 482.00 660.43 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 534.00 660.43 Td (%) Tj ET Q BT /F4 7.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 75.00 648.15 Td (In thousands of CAD except for percentage and shares data) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 635.18 Td (Earnings before income taxes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.90 635.18 Td (377,456) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 409.90 635.18 Td (319,077) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.30 635.18 Td (58,379) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.60 635.23 Td (18.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 635.18 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 75.00 622.13 Td (Add back:) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 87.00 609.18 Td (Restructuring costs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 372.80 609.18 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 414.30 609.18 Td (35,903) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.70 609.18 Td (\(35,903) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.85 609.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.50 609.18 Td (\(100.0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 609.18 Td (%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 596.18 Td (Earnings before income taxes excluding specific items) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.90 596.18 Td (377,456) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 409.90 596.18 Td (354,980) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.30 596.18 Td (22,476) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 535.05 596.18 Td (6.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 596.18 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 576.18 Td (Income tax expense) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.90 576.18 Td (103,021) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 414.30 576.18 Td (86,188) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.30 576.18 Td (16,833) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.60 576.23 Td (19.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 576.18 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 75.00 563.13 Td (Add back:) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 87.00 550.18 Td (Tax deduction on restructuring) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 372.80 550.18 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 418.80 550.23 Td (8,352) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.15 550.18 Td (\(8,352) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.85 550.18 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.50 550.18 Td (\(100.0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 550.18 Td (%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 537.18 Td (Income tax expense excluding specific items) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.90 537.18 Td (103,021) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 414.30 537.18 Td (94,540) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.80 537.23 Td (8,481) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 535.05 537.18 Td (9.0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 537.18 Td (%) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 87.00 524.18 Td (Effective tax rate excluding specific items) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 359.25 524.23 Td (27.3) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 374.85 524.18 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 417.25 524.18 Td (26.6) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 432.85 524.13 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 501.18 Td (Net earnings excluding specific items) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.90 501.18 Td (274,435) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 409.90 501.18 Td (260,440) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.30 501.18 Td (13,995) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 535.05 501.18 Td (5.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 501.18 Td (%) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 87.00 488.18 Td (Net earnings excluding specific items margin) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 359.25 488.23 Td (10.6) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 374.85 488.18 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 417.25 488.18 Td (10.1) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 432.85 488.13 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 468.18 Td (Weighted average number of shares outstanding) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 448.63 Td (ClassA subordinate voting shares and Class B multiple voting shares) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 440.68 Td (\(basic\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.75 445.93 Td (303,203,548) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 394.75 445.93 Td (309,337,317) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.40 445.93 Td (\(2.0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 445.93 Td (%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 423.63 Td (ClassA subordinate voting shares and Class B multiple voting shares) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 415.68 Td (\(diluted\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.75 420.93 Td (309,569,738) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 394.75 420.93 Td (318,572,873) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.40 420.93 Td (\(2.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 420.93 Td (%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 398.18 Td (Earnings per share excluding specific items \(in dollars\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 378.43 Td (Basic EPS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.25 378.48 Td (0.91) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 423.25 378.48 Td (0.84) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 481.25 378.23 Td (0.07) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 535.05 378.43 Td (8.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 378.43 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 365.43 Td (Diluted EPS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.25 365.48 Td (0.89) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 423.25 365.48 Td (0.82) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 481.25 365.23 Td (0.07) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 535.05 365.43 Td (8.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.20 365.43 Td (%) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 79 0 obj <> endobj 80 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (38) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (5.5. ) Tj ET Q q 0 0 0 rg BT 91.01 708.95 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 144.34 708.95 Td (TED ) Tj ET Q q 0 0 0 rg BT 164.84 708.95 Td (ST) Tj ET Q q 0 0 0 rg BT 175.68 708.95 Td (A) Tj ET Q q 0 0 0 rg BT 181.51 708.95 Td (TEMENTS ) Tj ET Q q 0 0 0 rg BT 227.01 708.95 Td (OF ) Tj ET Q q 0 0 0 rg BT 242.01 708.95 Td (CASH ) Tj ET Q q 0 0 0 rg BT 270.01 708.95 Td (FLOWS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 692.45 Td (As ) Tj ET Q q 0 0 0 rg BT 85.36 692.45 Td (at ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 95.72 692.45 Td (September30, ) Tj ET Q q 0 0 0 rg BT 157.62 692.45 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 177.64 692.45 Td (, ) Tj ET Q q 0 0 0 rg BT 182.99 692.45 Td (cash ) Tj ET Q q 0 0 0 rg BT 204.86 692.45 Td (and ) Tj ET Q q 0 0 0 rg BT 222.74 692.45 Td (cash ) Tj ET Q q 0 0 0 rg BT 244.60 692.45 Td (equivalents ) Tj ET Q q 0 0 0 rg BT 292.99 692.45 Td (were ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 315.36 692.45 Td ($596.5 ) Tj ET Q q 0 0 0 rg BT 345.74 692.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 371.25 692.45 Td (. ) Tj ET Q q 0 0 0 rg BT 376.42 692.45 Td (The ) Tj ET Q q 0 0 0 rg BT 394.78 692.45 Td (following ) Tj ET Q q 0 0 0 rg BT 432.66 692.45 Td (table ) Tj ET Q q 0 0 0 rg BT 455.03 692.45 Td (provides ) Tj ET Q q 0 0 0 rg BT 491.91 692.45 Td (a ) Tj ET Q q 0 0 0 rg BT 499.77 692.45 Td (summary ) Tj ET Q q 0 0 0 rg BT 539.63 692.45 Td (of ) Tj ET Q q 0 0 0 rg BT 549.99 692.45 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 678.95 Td (generation ) Tj ET Q q 0 0 0 rg BT 117.04 678.95 Td (and ) Tj ET Q q 0 0 0 rg BT 134.55 678.95 Td (use ) Tj ET Q q 0 0 0 rg BT 151.56 678.95 Td (of ) Tj ET Q q 0 0 0 rg BT 161.57 678.95 Td (cash ) Tj ET Q q 0 0 0 rg BT 183.08 678.95 Td (and ) Tj ET Q q 0 0 0 rg BT 200.60 678.95 Td (cash ) Tj ET Q q 0 0 0 rg BT 222.11 678.95 Td (equivalents ) Tj ET Q q 0 0 0 rg BT 270.14 678.95 Td (for ) Tj ET Q q 0 0 0 rg BT 283.14 678.95 Td (the ) Tj ET Q q 0 0 0 rg BT 298.16 678.95 Td (quarters ) Tj ET Q q 0 0 0 rg BT 333.67 678.95 Td (ended ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 361.20 678.95 Td (September30, ) Tj ET Q q 0 0 0 rg BT 422.74 678.95 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 442.76 678.95 Td ( ) Tj ET Q q 0 0 0 rg BT 445.26 678.95 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 462.77 678.95 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.80 678.95 Td (.) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 72.50 662.45 316.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 388.50 662.45 57.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 445.50 662.45 57.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 502.50 662.45 57.00 -26.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 388.50 636.45 57.00 -12.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 388.50 624.45 57.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 388.50 611.45 57.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 388.50 598.45 57.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 388.50 585.45 57.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 572.45 316.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 388.50 572.45 57.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 445.50 572.45 57.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 502.50 572.45 57.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 662.45 m 388.5 662.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 388.5 662.45 m 445.5 662.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445.5 662.45 m 502.5 662.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 502.5 662.45 m 559.5 662.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 559.45 m 388.5 559.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 388.5 559.45 m 445.5 559.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445.5 559.45 m 502.5 559.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 502.5 559.45 m 559.5 559.45 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 75.00 640.68 Td (For the three months ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 418.20 640.68 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 475.20 640.68 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 520.65 640.68 Td (Change) Tj ET Q BT /F4 7.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 75.00 628.65 Td (In thousands of CAD) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 615.68 Td (Cash provided by operating activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.30 615.68 Td (401,806) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 464.30 615.68 Td (451,310) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.15 615.68 Td (\(49,504) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 550.30 615.68 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 602.68 Td (Cash used in investing activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.70 602.73 Td (\(101,300) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.30 602.68 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 466.15 602.68 Td (\(79,339) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 493.30 602.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.15 602.68 Td (\(21,961) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 550.30 602.68 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 589.68 Td (Cash used in financing activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 413.55 589.68 Td (\(1,473) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.30 589.68 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 461.70 589.73 Td (\(366,092) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 493.30 589.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.35 589.73 Td (364,619) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 576.68 Td (Effect of foreign exchange rate changes on cash and cash equivalents) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 411.80 576.73 Td (13,815) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 468.80 576.73 Td (34,688) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.15 576.68 Td (\(20,873) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 550.30 576.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 563.68 Td (Net increase in cash and cash equivalents) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.30 563.68 Td (312,848) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 468.80 563.73 Td (40,567) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.35 563.73 Td (272,281) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 534.15 Td (5.5.1. ) Tj ET Q q 0 0 0 rg BT 98.52 534.15 Td (Cash ) Tj ET Q q 0 0 0 rg BT 123.03 534.15 Td (Provided ) Tj ET Q q 0 0 0 rg BT 164.04 534.15 Td (by ) Tj ET Q q 0 0 0 rg BT 177.04 534.15 Td (Operating ) Tj ET Q q 0 0 0 rg BT 221.71 534.15 Td (Activities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 517.65 Td (For ) Tj ET Q q 0 0 0 rg BT 88.26 517.65 Td (Q4 ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.03 517.65 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 123.05 517.65 Td (, ) Tj ET Q q 0 0 0 rg BT 128.31 517.65 Td (cash ) Tj ET Q q 0 0 0 rg BT 150.09 517.65 Td (provided ) Tj ET Q q 0 0 0 rg BT 187.37 517.65 Td (by ) Tj ET Q q 0 0 0 rg BT 199.64 517.65 Td (operating ) Tj ET Q q 0 0 0 rg BT 239.93 517.65 Td (activities ) Tj ET Q q 0 0 0 rg BT 277.20 517.65 Td (was ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 295.97 517.65 Td ($401.8 ) Tj ET Q q 0 0 0 rg BT 326.26 517.65 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 351.76 517.65 Td ( ) Tj ET Q q 0 0 0 rg BT 354.52 517.65 Td (compared ) Tj ET Q q 0 0 0 rg BT 397.31 517.65 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 407.57 517.65 Td ($451.3 ) Tj ET Q q 0 0 0 rg BT 437.86 517.65 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 463.37 517.65 Td ( ) Tj ET Q q 0 0 0 rg BT 466.13 517.65 Td (in ) Tj ET Q q 0 0 0 rg BT 475.90 517.65 Td (Q4 ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 490.67 517.65 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 510.69 517.65 Td (, ) Tj ET Q q 0 0 0 rg BT 515.95 517.65 Td (or ) Tj ET Q q 0 0 0 rg BT 526.71 517.65 Td (15.6% ) Tj ET Q q 0 0 0 rg BT 554.99 517.65 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 504.15 Td (revenue ) Tj ET Q q 0 0 0 rg BT 107.02 504.15 Td (compared ) Tj ET Q q 0 0 0 rg BT 149.55 504.15 Td (to ) Tj ET Q q 0 0 0 rg BT 159.55 504.15 Td (17.5% ) Tj ET Q q 0 0 0 rg BT 187.57 504.15 Td (last ) Tj ET Q q 0 0 0 rg BT 204.08 504.15 Td (year) Tj ET Q q 0 0 0 rg BT 221.09 504.15 Td (. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 490.35 Td (The ) Tj ET Q q 0 0 0 rg BT 90.01 490.35 Td (following ) Tj ET Q q 0 0 0 rg BT 127.53 490.35 Td (table ) Tj ET Q q 0 0 0 rg BT 149.55 490.35 Td (provides ) Tj ET Q q 0 0 0 rg BT 186.06 490.35 Td (a ) Tj ET Q q 0 0 0 rg BT 193.57 490.35 Td (summary ) Tj ET Q q 0 0 0 rg BT 233.07 490.35 Td (of ) Tj ET Q q 0 0 0 rg BT 243.08 490.35 Td (the ) Tj ET Q q 0 0 0 rg BT 258.09 490.35 Td (generation ) Tj ET Q q 0 0 0 rg BT 303.13 490.35 Td (and ) Tj ET Q q 0 0 0 rg BT 320.64 490.35 Td (use ) Tj ET Q q 0 0 0 rg BT 337.65 490.35 Td (of ) Tj ET Q q 0 0 0 rg BT 347.66 490.35 Td (cash ) Tj ET Q q 0 0 0 rg BT 369.17 490.35 Td (from ) Tj ET Q q 0 0 0 rg BT 389.67 490.35 Td (operating ) Tj ET Q q 0 0 0 rg BT 429.70 490.35 Td (activities.) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 72.50 479.55 318.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 390.50 479.55 57.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 447.50 479.55 57.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 504.50 479.55 57.00 -26.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 390.50 453.55 57.00 -10.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 390.50 443.55 57.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 390.50 430.55 57.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 390.50 417.55 57.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 390.50 404.55 57.00 -18.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 390.50 386.55 57.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 390.50 373.55 57.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 390.50 360.55 57.00 -18.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 390.50 342.55 57.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 390.50 329.55 57.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 316.55 318.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 390.50 316.55 57.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 447.50 316.55 57.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 504.50 316.55 57.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 479.55 m 390.5 479.55 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 479.55 m 447.5 479.55 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 447.5 479.55 m 504.5 479.55 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504.5 479.55 m 561.5 479.55 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 303.55 m 390.5 303.55 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 303.55 m 447.5 303.55 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 447.5 303.55 m 504.5 303.55 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504.5 303.55 m 561.5 303.55 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 75.00 457.78 Td (For the three months ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 420.20 457.78 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 477.20 457.78 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 522.65 457.78 Td (Change) Tj ET Q BT /F4 7.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 75.00 445.95 Td (In thousands of CAD) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 435.03 Td (Net earnings) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 409.30 435.03 Td (274,435) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 466.30 435.03 Td (232,889) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.35 435.08 Td (41,546) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 422.03 Td (Amortization and depreciation) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 413.80 422.08 Td (98,385) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 466.30 422.03 Td (107,565) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.15 422.03 Td (\(9,180) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 547.85 422.03 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 409.03 Td (Other adjustments ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 142.59 412.84 Td (1) Tj ET Q BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.84 w 0 i [] 0 d 1 J 1 j 3 M 413.8 408.308203125 m 438.26875 408.308203125 l s q 0 0 0 rg BT 413.80 409.58 Td (41,896) Tj ET Q BT /F3 8.00 Tf ET 0 0 0 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 470.8 408.03515625 m 495.26875 408.03515625 l s q 0 0 0 rg BT 470.80 409.18 Td (18,247) Tj ET Q BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.84 w 0 i [] 0 d 1 J 1 j 3 M 523.35 408.308203125 m 547.81875 408.308203125 l s q 0 0 0 rg BT 523.35 409.58 Td (23,649) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 396.23 Td (Cash flow from operating activities before net change in non-cash working capital) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 388.28 Td (items) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 409.30 393.53 Td (414,716) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 466.30 393.53 Td (358,701) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.35 393.58 Td (56,015) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 75.00 377.98 Td (Net change in non-cash working capital items:) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 87.00 365.03 Td (Accounts receivable, work in progress and deferred revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 413.80 365.08 Td (49,524) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 466.30 365.03 Td (104,019) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.70 365.03 Td (\(54,495) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 547.85 365.03 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 87.00 352.23 Td (Accounts payable and accrued liabilities, accrued compensation, provisions and) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 87.00 344.28 Td (long-term liabilities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 406.70 349.58 Td (\(118,621) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.30 349.53 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 468.15 349.53 Td (\(63,589) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 495.30 349.53 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.70 349.53 Td (\(55,032) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 547.85 349.53 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 87.00 334.03 Td (Other ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 109.23 337.84 Td (2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 413.80 334.08 Td (56,187) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 470.80 334.08 Td (52,179) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.80 334.08 Td (4,008) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 321.03 Td (Net change in non-cash working capital items) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 411.15 321.03 Td (\(12,910) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.30 321.03 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 470.80 321.08 Td (92,609) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.25 321.08 Td (\(105,519) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 547.85 321.03 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 308.03 Td (Cash provided by operating activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 409.30 308.03 Td (401,806) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 466.30 308.03 Td (451,310) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.70 308.03 Td (\(49,504) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 547.85 308.03 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 72.00 295.09 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.53 291.75 Td ( ) Tj ET Q q 0 0 0 rg BT 77.03 291.75 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 94.50 291.75 Td (Other ) Tj ET Q q 0 0 0 rg BT 113.95 291.75 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 153.64 291.75 Td (are ) Tj ET Q q 0 0 0 rg BT 165.70 291.75 Td (comprised ) Tj ET Q q 0 0 0 rg BT 199.93 291.75 Td (of ) Tj ET Q q 0 0 0 rg BT 207.72 291.75 Td (deferred ) Tj ET Q q 0 0 0 rg BT 235.73 291.75 Td (income ) Tj ET Q q 0 0 0 rg BT 260.24 291.75 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 280.86 291.75 Td (foreign ) Tj ET Q q 0 0 0 rg BT 304.21 291.75 Td (exchange ) Tj ET Q q 0 0 0 rg BT 336.52 291.75 Td (\(gain\) ) Tj ET Q q 0 0 0 rg BT 356.36 291.75 Td (loss ) Tj ET Q q 0 0 0 rg BT 370.75 291.75 Td (and ) Tj ET Q q 0 0 0 rg BT 384.37 291.75 Td (share-based ) Tj ET Q q 0 0 0 rg BT 425.23 291.75 Td (payment ) Tj ET Q q 0 0 0 rg BT 454.03 291.75 Td (costs.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 72.00 286.39 Td (2 ) Tj ET Q BT /F3 4.55 Tf ET q 0 0 0 rg BT 76.50 286.39 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 77.76 283.05 Td ( ) Tj ET Q q 0 0 0 rg BT 94.50 283.05 Td (Comprised ) Tj ET Q q 0 0 0 rg BT 130.88 283.05 Td (of ) Tj ET Q q 0 0 0 rg BT 139.25 283.05 Td (prepaid ) Tj ET Q q 0 0 0 rg BT 165.14 283.05 Td (expenses ) Tj ET Q q 0 0 0 rg BT 197.64 283.05 Td (and ) Tj ET Q q 0 0 0 rg BT 211.86 283.05 Td (other ) Tj ET Q q 0 0 0 rg BT 230.35 283.05 Td (assets, ) Tj ET Q q 0 0 0 rg BT 255.06 283.05 Td (long-term ) Tj ET Q q 0 0 0 rg BT 287.16 283.05 Td (financial ) Tj ET Q q 0 0 0 rg BT 315.38 283.05 Td (assets ) Tj ET Q q 0 0 0 rg BT 338.15 283.05 Td (related ) Tj ET Q q 0 0 0 rg BT 362.08 283.05 Td (to ) Tj ET Q q 0 0 0 rg BT 370.46 283.05 Td (operating ) Tj ET Q q 0 0 0 rg BT 402.18 283.05 Td (activities, ) Tj ET Q q 0 0 0 rg BT 433.50 283.05 Td (retirement ) Tj ET Q q 0 0 0 rg BT 467.55 283.05 Td (benefits ) Tj ET Q q 0 0 0 rg BT 494.60 283.05 Td (obligations, ) Tj ET Q q 0 0 0 rg BT 532.55 283.05 Td (derivative ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 94.50 274.65 Td (financial ) Tj ET Q q 0 0 0 rg BT 122.13 274.65 Td (instruments ) Tj ET Q q 0 0 0 rg BT 160.25 274.65 Td (and ) Tj ET Q q 0 0 0 rg BT 173.88 274.65 Td (income ) Tj ET Q q 0 0 0 rg BT 198.39 274.65 Td (taxes.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 258.70 Td (For ) Tj ET Q q 0 0 0 rg BT 86.81 258.70 Td (the ) Tj ET Q q 0 0 0 rg BT 101.14 258.70 Td (three ) Tj ET Q q 0 0 0 rg BT 123.46 258.70 Td (months ) Tj ET Q q 0 0 0 rg BT 154.79 258.70 Td (ended ) Tj ET Q q 0 0 0 rg BT 181.63 258.70 Td (September ) Tj ET Q q 0 0 0 rg BT 227.46 258.70 Td (30, ) Tj ET Q q 0 0 0 rg BT 241.79 258.70 Td (2016, ) Tj ET Q q 0 0 0 rg BT 266.12 258.70 Td (the ) Tj ET Q q 0 0 0 rg BT 280.44 258.70 Td ($12.9 ) Tj ET Q q 0 0 0 rg BT 304.78 258.70 Td (million ) Tj ET Q q 0 0 0 rg BT 332.09 258.70 Td (of ) Tj ET Q q 0 0 0 rg BT 341.41 258.70 Td (net ) Tj ET Q q 0 0 0 rg BT 355.74 258.70 Td (change ) Tj ET Q q 0 0 0 rg BT 387.07 258.70 Td (in ) Tj ET Q q 0 0 0 rg BT 395.89 258.70 Td (non-cash ) Tj ET Q q 0 0 0 rg BT 434.73 258.70 Td (working ) Tj ET Q q 0 0 0 rg BT 467.55 258.70 Td (capital ) Tj ET Q q 0 0 0 rg BT 495.38 258.70 Td (items ) Tj ET Q q 0 0 0 rg BT 518.69 258.70 Td (was ) Tj ET Q q 0 0 0 rg BT 536.51 258.70 Td (mostly ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 243.05 Td (due ) Tj ET Q q 0 0 0 rg BT 89.02 243.05 Td (to ) Tj ET Q q 0 0 0 rg BT 99.02 243.05 Td (:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 108.00 227.10 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 121.50 227.10 Td (The ) Tj ET Q q 0 0 0 rg BT 141.49 227.10 Td (change ) Tj ET Q q 0 0 0 rg BT 175.50 227.10 Td (in ) Tj ET Q q 0 0 0 rg BT 186.98 227.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 227.48 227.10 Td (payable ) Tj ET Q q 0 0 0 rg BT 263.49 227.10 Td (and ) Tj ET Q q 0 0 0 rg BT 282.99 227.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 319.49 227.10 Td (liabilities, ) Tj ET Q q 0 0 0 rg BT 360.48 227.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 396.98 227.10 Td (compensation, ) Tj ET Q q 0 0 0 rg BT 460.00 227.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 504.99 227.10 Td (and ) Tj ET Q q 0 0 0 rg BT 524.49 227.10 Td (long-term ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 121.50 211.45 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 157.81 211.45 Td (, ) Tj ET Q q 0 0 0 rg BT 162.60 211.45 Td (mainly ) Tj ET Q q 0 0 0 rg BT 190.90 211.45 Td (driven ) Tj ET Q q 0 0 0 rg BT 217.71 211.45 Td (by ) Tj ET Q q 0 0 0 rg BT 229.51 211.45 Td (the ) Tj ET Q q 0 0 0 rg BT 244.31 211.45 Td (reduction ) Tj ET Q q 0 0 0 rg BT 283.63 211.45 Td (in ) Tj ET Q q 0 0 0 rg BT 292.93 211.45 Td (vacation ) Tj ET Q q 0 0 0 rg BT 328.75 211.45 Td (accruals, ) Tj ET Q q 0 0 0 rg BT 367.05 211.45 Td (the ) Tj ET Q q 0 0 0 rg BT 381.86 211.45 Td (timing ) Tj ET Q q 0 0 0 rg BT 408.16 211.45 Td (of ) Tj ET Q q 0 0 0 rg BT 417.96 211.45 Td (payments ) Tj ET Q q 0 0 0 rg BT 459.27 211.45 Td (of ) Tj ET Q q 0 0 0 rg BT 469.07 211.45 Td (sales ) Tj ET Q q 0 0 0 rg BT 492.38 211.45 Td (and ) Tj ET Q q 0 0 0 rg BT 509.69 211.45 Td (payroll ) Tj ET Q q 0 0 0 rg BT 538.49 211.45 Td (taxes, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 121.50 195.75 Td (and ) Tj ET Q q 0 0 0 rg BT 139.02 195.75 Td (payroll ) Tj ET Q q 0 0 0 rg BT 168.03 195.75 Td (accruals.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 67.50 177.10 Td (This ) Tj ET Q q 0 0 0 rg BT 87.00 177.10 Td (was ) Tj ET Q q 0 0 0 rg BT 105.51 177.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 139.02 177.10 Td (of) Tj ET Q q 0 0 0 rg BT 146.36 177.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 163.37 177.10 Td (by ) Tj ET Q q 0 0 0 rg BT 175.38 177.10 Td (: ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 108.00 158.45 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 121.50 158.45 Td (The ) Tj ET Q q 0 0 0 rg BT 139.18 158.45 Td (favourable ) Tj ET Q q 0 0 0 rg BT 183.38 158.45 Td (change ) Tj ET Q q 0 0 0 rg BT 215.08 158.45 Td (in ) Tj ET Q q 0 0 0 rg BT 224.26 158.45 Td (accounts ) Tj ET Q q 0 0 0 rg BT 262.45 158.45 Td (receivable, ) Tj ET Q q 0 0 0 rg BT 308.15 158.45 Td (work ) Tj ET Q q 0 0 0 rg BT 329.32 158.45 Td (in ) Tj ET Q q 0 0 0 rg BT 338.50 158.45 Td (progress ) Tj ET Q q 0 0 0 rg BT 375.68 158.45 Td (and ) Tj ET Q q 0 0 0 rg BT 392.87 158.45 Td (deferred ) Tj ET Q q 0 0 0 rg BT 428.57 158.45 Td (revenue ) Tj ET Q q 0 0 0 rg BT 463.26 158.45 Td (mainly ) Tj ET Q q 0 0 0 rg BT 491.44 158.45 Td (due ) Tj ET Q q 0 0 0 rg BT 508.63 158.45 Td (to ) Tj ET Q q 0 0 0 rg BT 518.31 158.45 Td (a ) Tj ET Q q 0 0 0 rg BT 525.48 158.45 Td (decrease ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 121.50 142.80 Td (in ) Tj ET Q q 0 0 0 rg BT 131.01 142.80 Td (our ) Tj ET Q q 0 0 0 rg BT 146.51 142.80 Td (DSO ) Tj ET Q q 0 0 0 rg BT 168.52 142.80 Td (from ) Tj ET Q q 0 0 0 rg BT 189.02 142.80 Td (45 ) Tj ET Q q 0 0 0 rg BT 201.53 142.80 Td (days ) Tj ET Q q 0 0 0 rg BT 223.04 142.80 Td (in ) Tj ET Q q 0 0 0 rg BT 232.55 142.80 Td (Q3 ) Tj ET Q q 0 0 0 rg BT 247.05 142.80 Td (2016 ) Tj ET Q q 0 0 0 rg BT 269.57 142.80 Td (to ) Tj ET Q q 0 0 0 rg BT 279.58 142.80 Td (44 ) Tj ET Q q 0 0 0 rg BT 292.09 142.80 Td (days ) Tj ET Q q 0 0 0 rg BT 313.60 142.80 Td (in ) Tj ET Q q 0 0 0 rg BT 323.11 142.80 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 337.61 142.80 Td (2016;) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 108.00 124.15 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 121.50 124.15 Td (The ) Tj ET Q q 0 0 0 rg BT 139.11 124.15 Td (net ) Tj ET Q q 0 0 0 rg BT 153.71 124.15 Td (decrease ) Tj ET Q q 0 0 0 rg BT 192.84 124.15 Td (in ) Tj ET Q q 0 0 0 rg BT 201.94 124.15 Td (prepaid ) Tj ET Q q 0 0 0 rg BT 234.06 124.15 Td (expenses ) Tj ET Q q 0 0 0 rg BT 274.68 124.15 Td (and ) Tj ET Q q 0 0 0 rg BT 291.80 124.15 Td (other ) Tj ET Q q 0 0 0 rg BT 314.41 124.15 Td (assets ) Tj ET Q q 0 0 0 rg BT 342.52 124.15 Td (mostly ) Tj ET Q q 0 0 0 rg BT 370.62 124.15 Td (due ) Tj ET Q q 0 0 0 rg BT 387.73 124.15 Td (to ) Tj ET Q q 0 0 0 rg BT 397.34 124.15 Td (the ) Tj ET Q q 0 0 0 rg BT 411.94 124.15 Td (timing ) Tj ET Q q 0 0 0 rg BT 438.05 124.15 Td (of ) Tj ET Q q 0 0 0 rg BT 447.65 124.15 Td (payments ) Tj ET Q q 0 0 0 rg BT 488.77 124.15 Td (of ) Tj ET Q q 0 0 0 rg BT 498.37 124.15 Td (software ) Tj ET Q q 0 0 0 rg BT 534.48 124.15 Td (license ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 121.50 108.45 Td (maintenance ) Tj ET Q q 0 0 0 rg BT 175.54 108.45 Td (and ) Tj ET Q q 0 0 0 rg BT 193.05 108.45 Td (rent; ) Tj ET Q q 0 0 0 rg BT 213.56 108.45 Td (and,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 108.00 89.80 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 121.50 89.80 Td (The ) Tj ET Q q 0 0 0 rg BT 139.51 89.80 Td (increase ) Tj ET Q q 0 0 0 rg BT 176.03 89.80 Td (in ) Tj ET Q q 0 0 0 rg BT 185.53 89.80 Td (income ) Tj ET Q q 0 0 0 rg BT 217.05 89.80 Td (tax ) Tj ET Q q 0 0 0 rg BT 231.55 89.80 Td (accruals.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 67.50 73.85 Td (The ) Tj ET Q q 0 0 0 rg BT 85.51 73.85 Td (timing ) Tj ET Q q 0 0 0 rg BT 112.02 73.85 Td (of ) Tj ET Q q 0 0 0 rg BT 122.02 73.85 Td (our ) Tj ET Q q 0 0 0 rg BT 137.53 73.85 Td (working ) Tj ET Q q 0 0 0 rg BT 171.04 73.85 Td (capital ) Tj ET Q q 0 0 0 rg BT 199.56 73.85 Td (inflows ) Tj ET Q q 0 0 0 rg BT 229.57 73.85 Td (and ) Tj ET Q q 0 0 0 rg BT 247.09 73.85 Td (outflows ) Tj ET Q q 0 0 0 rg BT 282.60 73.85 Td (will ) Tj ET Q q 0 0 0 rg BT 297.60 73.85 Td (always ) Tj ET Q q 0 0 0 rg BT 327.61 73.85 Td (have ) Tj ET Q q 0 0 0 rg BT 349.63 73.85 Td (an ) Tj ET Q q 0 0 0 rg BT 362.14 73.85 Td (impact ) Tj ET Q q 0 0 0 rg BT 391.15 73.85 Td (on ) Tj ET Q q 0 0 0 rg BT 403.66 73.85 Td (the ) Tj ET Q q 0 0 0 rg BT 418.67 73.85 Td (cash ) Tj ET Q q 0 0 0 rg BT 440.18 73.85 Td (flow ) Tj ET Q q 0 0 0 rg BT 458.69 73.85 Td (from ) Tj ET Q q 0 0 0 rg BT 479.19 73.85 Td (operations.) Tj ET Q endstream endobj 81 0 obj <> endobj 82 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (39) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (5.5.2. ) Tj ET Q q 0 0 0 rg BT 98.52 708.95 Td (Cash ) Tj ET Q q 0 0 0 rg BT 123.03 708.95 Td (Used ) Tj ET Q q 0 0 0 rg BT 147.53 708.95 Td (in ) Tj ET Q q 0 0 0 rg BT 158.03 708.95 Td (Investing ) Tj ET Q q 0 0 0 rg BT 199.71 708.95 Td (Activities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 692.45 Td (For ) Tj ET Q q 0 0 0 rg BT 88.00 692.45 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 102.51 692.45 Td (2016,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 125.03 692.45 Td ($101.3 ) Tj ET Q q 0 0 0 rg BT 155.06 692.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 180.56 692.45 Td ( ) Tj ET Q q 0 0 0 rg BT 183.06 692.45 Td (were ) Tj ET Q q 0 0 0 rg BT 205.07 692.45 Td (used ) Tj ET Q q 0 0 0 rg BT 227.09 692.45 Td (in ) Tj ET Q q 0 0 0 rg BT 236.59 692.45 Td (investing ) Tj ET Q q 0 0 0 rg BT 274.61 692.45 Td (activities ) Tj ET Q q 0 0 0 rg BT 311.63 692.45 Td (while ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 334.63 692.45 Td ($79.3 ) Tj ET Q q 0 0 0 rg BT 359.66 692.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 385.16 692.45 Td ( ) Tj ET Q q 0 0 0 rg BT 387.66 692.45 Td (were ) Tj ET Q q 0 0 0 rg BT 409.67 692.45 Td (used ) Tj ET Q q 0 0 0 rg BT 431.69 692.45 Td (in ) Tj ET Q q 0 0 0 rg BT 441.19 692.45 Td (the ) Tj ET Q q 0 0 0 rg BT 456.21 692.45 Td (prior ) Tj ET Q q 0 0 0 rg BT 476.71 692.45 Td (year) Tj ET Q q 0 0 0 rg BT 493.72 692.45 Td (. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 672.95 Td (The ) Tj ET Q q 0 0 0 rg BT 90.01 672.95 Td (following ) Tj ET Q q 0 0 0 rg BT 127.53 672.95 Td (table ) Tj ET Q q 0 0 0 rg BT 149.55 672.95 Td (provides ) Tj ET Q q 0 0 0 rg BT 186.06 672.95 Td (a ) Tj ET Q q 0 0 0 rg BT 193.57 672.95 Td (summary ) Tj ET Q q 0 0 0 rg BT 233.07 672.95 Td (of ) Tj ET Q q 0 0 0 rg BT 243.08 672.95 Td (the ) Tj ET Q q 0 0 0 rg BT 258.09 672.95 Td (generation ) Tj ET Q q 0 0 0 rg BT 303.13 672.95 Td (and ) Tj ET Q q 0 0 0 rg BT 320.64 672.95 Td (use ) Tj ET Q q 0 0 0 rg BT 337.65 672.95 Td (of ) Tj ET Q q 0 0 0 rg BT 347.66 672.95 Td (cash ) Tj ET Q q 0 0 0 rg BT 369.17 672.95 Td (from ) Tj ET Q q 0 0 0 rg BT 389.67 672.95 Td (investing ) Tj ET Q q 0 0 0 rg BT 427.69 672.95 Td (activities:) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 72.50 662.45 250.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 322.50 662.45 79.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 401.50 662.45 80.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 481.50 662.45 80.00 -26.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 322.50 636.45 79.00 -12.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 322.50 624.45 79.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 322.50 611.45 79.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 322.50 598.45 79.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 322.50 585.45 79.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 322.50 572.45 79.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 322.50 559.45 79.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 546.45 250.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 322.50 546.45 79.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 401.50 546.45 80.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 481.50 546.45 80.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 662.45 m 322.5 662.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 662.45 m 401.5 662.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401.5 662.45 m 481.5 662.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 481.5 662.45 m 561.5 662.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 533.45 m 322.5 533.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 533.45 m 401.5 533.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401.5 533.45 m 481.5 533.45 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 481.5 533.45 m 561.5 533.45 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 75.00 640.68 Td (For the years ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 374.20 640.68 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 454.20 640.68 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 522.65 640.68 Td (Change) Tj ET Q BT /F4 7.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 75.00 628.65 Td (In thousands of CAD) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 615.68 Td (Proceeds from sale of capital assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 378.95 615.73 Td (980) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 464.30 615.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 538.95 615.73 Td (980) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 602.68 Td (Purchase of property, plant and equipment) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.15 602.68 Td (\(41,578) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.30 602.68 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 445.15 602.68 Td (\(32,474) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 472.30 602.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 602.73 Td (\(9,104) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 552.30 602.68 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 589.68 Td (Additions to contract costs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.15 589.68 Td (\(29,327) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.30 589.68 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 445.15 589.68 Td (\(27,603) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 472.30 589.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 589.73 Td (\(1,724) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 552.30 589.68 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 576.68 Td (Additions to intangible assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.15 576.68 Td (\(28,802) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.30 576.68 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 445.15 576.68 Td (\(20,704) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 472.30 576.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 576.73 Td (\(8,098) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 552.30 576.68 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 563.68 Td (Net purchase of long-term investments) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 369.55 563.68 Td (\(2,573) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.30 563.68 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 456.25 563.73 Td (\(220) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 472.30 563.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 563.73 Td (\(2,353) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 552.30 563.68 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 550.68 Td (Payments received from long-term receivables) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 384.30 550.73 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 452.25 550.73 Td (1,662) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 550.73 Td (\(1,662) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 552.30 550.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.00 537.68 Td (Cash used in investing activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.70 537.73 Td (\(101,300) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.30 537.68 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 445.15 537.68 Td (\(79,339) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 472.30 537.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.15 537.68 Td (\(21,961) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 552.30 537.68 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 511.45 Td (The ) Tj ET Q q 0 0 0 rg BT 90.01 511.45 Td (increase ) Tj ET Q q 0 0 0 rg BT 126.53 511.45 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 136.53 511.45 Td ($22.0 ) Tj ET Q q 0 0 0 rg BT 161.56 511.45 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 187.06 511.45 Td ( ) Tj ET Q q 0 0 0 rg BT 189.56 511.45 Td (in ) Tj ET Q q 0 0 0 rg BT 199.07 511.45 Td (cash ) Tj ET Q q 0 0 0 rg BT 220.58 511.45 Td (used ) Tj ET Q q 0 0 0 rg BT 242.60 511.45 Td (in ) Tj ET Q q 0 0 0 rg BT 252.10 511.45 Td (investing ) Tj ET Q q 0 0 0 rg BT 290.12 511.45 Td (activities ) Tj ET Q q 0 0 0 rg BT 327.13 511.45 Td (during ) Tj ET Q q 0 0 0 rg BT 354.65 511.45 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 369.16 511.45 Td (2016 ) Tj ET Q q 0 0 0 rg BT 391.68 511.45 Td (was ) Tj ET Q q 0 0 0 rg BT 410.19 511.45 Td (mainly ) Tj ET Q q 0 0 0 rg BT 438.69 511.45 Td (due ) Tj ET Q q 0 0 0 rg BT 456.21 511.45 Td (to ) Tj ET Q q 0 0 0 rg BT 466.22 511.45 Td (: ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 108.00 484.45 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 121.50 484.45 Td (The ) Tj ET Q q 0 0 0 rg BT 138.50 484.45 Td (purchase ) Tj ET Q q 0 0 0 rg BT 177.02 484.45 Td (of ) Tj ET Q q 0 0 0 rg BT 186.02 484.45 Td (property) Tj ET Q q 0 0 0 rg BT 218.37 484.45 Td (, ) Tj ET Q q 0 0 0 rg BT 222.37 484.45 Td (plant ) Tj ET Q q 0 0 0 rg BT 243.38 484.45 Td (and ) Tj ET Q q 0 0 0 rg BT 259.89 484.45 Td (equipment ) Tj ET Q q 0 0 0 rg BT 303.41 484.45 Td (due ) Tj ET Q q 0 0 0 rg BT 319.92 484.45 Td (to ) Tj ET Q q 0 0 0 rg BT 328.92 484.45 Td (investments ) Tj ET Q q 0 0 0 rg BT 378.44 484.45 Td (across ) Tj ET Q q 0 0 0 rg BT 406.44 484.45 Td (our ) Tj ET Q q 0 0 0 rg BT 420.94 484.45 Td (data ) Tj ET Q q 0 0 0 rg BT 439.95 484.45 Td (center ) Tj ET Q q 0 0 0 rg BT 466.46 484.45 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 520.47 484.45 Td (operations ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 121.50 470.95 Td (and ) Tj ET Q q 0 0 0 rg BT 139.02 470.95 Td (global ) Tj ET Q q 0 0 0 rg BT 165.54 470.95 Td (delivery ) Tj ET Q q 0 0 0 rg BT 199.05 470.95 Td (centers; ) Tj ET Q q 0 0 0 rg BT 233.56 470.95 Td (and,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 108.00 451.45 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 121.50 451.45 Td (Investments ) Tj ET Q q 0 0 0 rg BT 171.54 451.45 Td (in ) Tj ET Q q 0 0 0 rg BT 180.06 451.45 Td (intangible ) Tj ET Q q 0 0 0 rg BT 220.11 451.45 Td (assets ) Tj ET Q q 0 0 0 rg BT 247.63 451.45 Td (for ) Tj ET Q q 0 0 0 rg BT 259.65 451.45 Td (the ) Tj ET Q q 0 0 0 rg BT 273.68 451.45 Td (purchase ) Tj ET Q q 0 0 0 rg BT 312.22 451.45 Td (of ) Tj ET Q q 0 0 0 rg BT 321.24 451.45 Td (software ) Tj ET Q q 0 0 0 rg BT 356.77 451.45 Td (licenses ) Tj ET Q q 0 0 0 rg BT 390.81 451.45 Td (used ) Tj ET Q q 0 0 0 rg BT 411.84 451.45 Td (mainly ) Tj ET Q q 0 0 0 rg BT 439.36 451.45 Td (in ) Tj ET Q q 0 0 0 rg BT 447.88 451.45 Td (the ) Tj ET Q q 0 0 0 rg BT 461.91 451.45 Td (delivery ) Tj ET Q q 0 0 0 rg BT 494.44 451.45 Td (of ) Tj ET Q q 0 0 0 rg BT 503.46 451.45 Td (client ) Tj ET Q q 0 0 0 rg BT 525.99 451.45 Td (contracts ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 121.50 437.95 Td (as ) Tj ET Q q 0 0 0 rg BT 133.51 437.95 Td (well ) Tj ET Q q 0 0 0 rg BT 151.51 437.95 Td (as ) Tj ET Q q 0 0 0 rg BT 163.52 437.95 Td (investment ) Tj ET Q q 0 0 0 rg BT 209.54 437.95 Td (in ) Tj ET Q q 0 0 0 rg BT 219.04 437.95 Td (internal-used ) Tj ET Q q 0 0 0 rg BT 273.57 437.95 Td (software.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 412.15 Td (5.5.3. ) Tj ET Q q 0 0 0 rg BT 98.52 412.15 Td (Cash ) Tj ET Q q 0 0 0 rg BT 123.03 412.15 Td (Used ) Tj ET Q q 0 0 0 rg BT 147.53 412.15 Td (in ) Tj ET Q q 0 0 0 rg BT 158.03 412.15 Td (Financing ) Tj ET Q q 0 0 0 rg BT 202.70 412.15 Td (Activities) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 76.00 398.65 250.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 326.00 398.65 79.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 405.00 398.65 80.00 -26.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 485.00 398.65 77.00 -26.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 326.00 372.65 79.00 -12.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 326.00 360.65 79.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 326.00 347.65 79.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 326.00 334.65 79.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 326.00 321.65 79.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 76.00 308.65 250.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 326.00 308.65 79.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 405.00 308.65 80.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 485.00 308.65 77.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 76 398.65 m 326 398.65 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 326 398.65 m 405 398.65 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 405 398.65 m 485 398.65 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485 398.65 m 562 398.65 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 76 295.65 m 326 295.65 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 326 295.65 m 405 295.65 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 405 295.65 m 485 295.65 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485 295.65 m 562 295.65 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 78.50 376.88 Td (For the three months ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 377.70 376.88 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 457.70 376.88 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 523.15 376.88 Td (Change) Tj ET Q BT /F4 7.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 78.50 364.85 Td (In thousands of CAD) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 78.50 351.88 Td (Net change in long-term debt) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 368.65 351.88 Td (\(16,718) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 395.80 351.88 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 444.20 351.93 Td (\(120,772) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 475.80 351.88 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.85 351.93 Td (104,054) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 78.50 338.88 Td (Settlement of derivative financial instruments) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 387.80 338.93 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 448.65 338.88 Td (\(23,293) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 475.80 338.88 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 528.30 338.93 Td (23,293) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 78.50 325.88 Td (Repurchase of ClassA subordinate voting shares) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 387.80 325.93 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 444.20 325.93 Td (\(229,041) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 475.80 325.88 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.85 325.93 Td (229,041) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 78.50 312.88 Td (Issuance of ClassA subordinate voting shares) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 371.30 312.93 Td (15,245) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 455.75 312.93 Td (7,014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 312.93 Td (8,231) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 78.50 299.88 Td (Cash used in financing activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 373.05 299.88 Td (\(1,473) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 395.80 299.88 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 444.20 299.93 Td (\(366,092) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 475.80 299.88 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.85 299.93 Td (364,619) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 273.65 Td (During ) Tj ET Q q 0 0 0 rg BT 100.82 273.65 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 115.14 273.65 Td (2016, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 139.97 273.65 Td ($16.7 ) Tj ET Q q 0 0 0 rg BT 164.81 273.65 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 190.31 273.65 Td ( ) Tj ET Q q 0 0 0 rg BT 192.62 273.65 Td (was ) Tj ET Q q 0 0 0 rg BT 210.94 273.65 Td (used ) Tj ET Q q 0 0 0 rg BT 232.77 273.65 Td (to ) Tj ET Q q 0 0 0 rg BT 242.58 273.65 Td (reduce ) Tj ET Q q 0 0 0 rg BT 272.41 273.65 Td (our ) Tj ET Q q 0 0 0 rg BT 287.73 273.65 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 336.58 273.65 Td (long-term ) Tj ET Q q 0 0 0 rg BT 376.90 273.65 Td (debt ) Tj ET Q q 0 0 0 rg BT 396.73 273.65 Td (while ) Tj ET Q q 0 0 0 rg BT 419.55 273.65 Td (for ) Tj ET Q q 0 0 0 rg BT 432.37 273.65 Td (the ) Tj ET Q q 0 0 0 rg BT 447.19 273.65 Td (same ) Tj ET Q q 0 0 0 rg BT 471.51 273.65 Td (period ) Tj ET Q q 0 0 0 rg BT 498.84 273.65 Td (last ) Tj ET Q q 0 0 0 rg BT 515.15 273.65 Td (year ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.97 273.65 Td ($120.8 ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 260.15 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 97.51 260.15 Td ( ) Tj ET Q q 0 0 0 rg BT 100.01 260.15 Td (was ) Tj ET Q q 0 0 0 rg BT 118.51 260.15 Td (used ) Tj ET Q q 0 0 0 rg BT 140.53 260.15 Td (mainly ) Tj ET Q q 0 0 0 rg BT 169.04 260.15 Td (driven ) Tj ET Q q 0 0 0 rg BT 196.05 260.15 Td (by ) Tj ET Q q 0 0 0 rg BT 208.05 260.15 Td ($121.9 ) Tj ET Q q 0 0 0 rg BT 238.08 260.15 Td (million ) Tj ET Q q 0 0 0 rg BT 266.09 260.15 Td (in ) Tj ET Q q 0 0 0 rg BT 275.59 260.15 Td (repayments ) Tj ET Q q 0 0 0 rg BT 325.12 260.15 Td (under ) Tj ET Q q 0 0 0 rg BT 350.64 260.15 Td (the ) Tj ET Q q 0 0 0 rg BT 365.65 260.15 Td (term ) Tj ET Q q 0 0 0 rg BT 386.15 260.15 Td (loan ) Tj ET Q q 0 0 0 rg BT 405.66 260.15 Td (credit ) Tj ET Q q 0 0 0 rg BT 430.17 260.15 Td (facility) Tj ET Q q 0 0 0 rg BT 454.51 260.15 Td (.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 240.65 Td (During ) Tj ET Q q 0 0 0 rg BT 101.35 240.65 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 116.20 240.65 Td (2016, ) Tj ET Q q 0 0 0 rg BT 141.56 240.65 Td (we ) Tj ET Q q 0 0 0 rg BT 155.91 240.65 Td (did ) Tj ET Q q 0 0 0 rg BT 170.76 240.65 Td (not ) Tj ET Q q 0 0 0 rg BT 186.11 240.65 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 233.98 240.65 Td (Class ) Tj ET Q q 0 0 0 rg BT 258.76 240.65 Td (A) Tj ET Q q 0 0 0 rg BT 264.27 240.65 Td ( ) Tj ET Q q 0 0 0 rg BT 267.11 240.65 Td (subordinate ) Tj ET Q q 0 0 0 rg BT 316.99 240.65 Td (voting ) Tj ET Q q 0 0 0 rg BT 343.84 240.65 Td (shares ) Tj ET Q q 0 0 0 rg BT 373.70 240.65 Td (under ) Tj ET Q q 0 0 0 rg BT 399.56 240.65 Td (the ) Tj ET Q q 0 0 0 rg BT 414.91 240.65 Td (NCIB. ) Tj ET Q q 0 0 0 rg BT 441.76 240.65 Td (For ) Tj ET Q q 0 0 0 rg BT 458.10 240.65 Td (the ) Tj ET Q q 0 0 0 rg BT 473.45 240.65 Td (same ) Tj ET Q q 0 0 0 rg BT 498.30 240.65 Td (period ) Tj ET Q q 0 0 0 rg BT 526.16 240.65 Td (last ) Tj ET Q q 0 0 0 rg BT 543.00 240.65 Td (year) Tj ET Q q 0 0 0 rg BT 560.02 240.65 Td (, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 227.15 Td (we ) Tj ET Q q 0 0 0 rg BT 86.01 227.15 Td (used ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 108.02 227.15 Td ($229.0 ) Tj ET Q q 0 0 0 rg BT 138.05 227.15 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 163.56 227.15 Td ( ) Tj ET Q q 0 0 0 rg BT 166.06 227.15 Td (to ) Tj ET Q q 0 0 0 rg BT 176.06 227.15 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 223.59 227.15 Td (4,850,402 ) Tj ET Q q 0 0 0 rg BT 266.13 227.15 Td (Class ) Tj ET Q q 0 0 0 rg BT 290.64 227.15 Td (A) Tj ET Q q 0 0 0 rg BT 296.14 227.15 Td ( ) Tj ET Q q 0 0 0 rg BT 298.64 227.15 Td (subordinate ) Tj ET Q q 0 0 0 rg BT 348.18 227.15 Td (voting ) Tj ET Q q 0 0 0 rg BT 374.70 227.15 Td (shares ) Tj ET Q q 0 0 0 rg BT 404.21 227.15 Td (under ) Tj ET Q q 0 0 0 rg BT 429.73 227.15 Td (the ) Tj ET Q q 0 0 0 rg BT 444.74 227.15 Td (NCIB.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 207.65 Td (In ) Tj ET Q q 0 0 0 rg BT 82.44 207.65 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 97.39 207.65 Td (2016, ) Tj ET Q q 0 0 0 rg BT 122.85 207.65 Td (we ) Tj ET Q q 0 0 0 rg BT 137.29 207.65 Td (received ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 174.24 207.65 Td ($15.2 ) Tj ET Q q 0 0 0 rg BT 199.70 207.65 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 225.21 207.65 Td ( ) Tj ET Q q 0 0 0 rg BT 228.15 207.65 Td (in ) Tj ET Q q 0 0 0 rg BT 238.09 207.65 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 278.05 207.65 Td (from ) Tj ET Q q 0 0 0 rg BT 298.99 207.65 Td (the ) Tj ET Q q 0 0 0 rg BT 314.44 207.65 Td (exercise ) Tj ET Q q 0 0 0 rg BT 350.89 207.65 Td (of ) Tj ET Q q 0 0 0 rg BT 361.33 207.65 Td (stock ) Tj ET Q q 0 0 0 rg BT 385.27 207.65 Td (options, ) Tj ET Q q 0 0 0 rg BT 419.73 207.65 Td (compared ) Tj ET Q q 0 0 0 rg BT 462.69 207.65 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.14 207.65 Td ($7.0 ) Tj ET Q q 0 0 0 rg BT 493.59 207.65 Td (million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 519.10 207.65 Td ( ) Tj ET Q q 0 0 0 rg BT 522.03 207.65 Td (during ) Tj ET Q q 0 0 0 rg BT 549.99 207.65 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 194.15 Td (same ) Tj ET Q q 0 0 0 rg BT 96.51 194.15 Td (period ) Tj ET Q q 0 0 0 rg BT 124.03 194.15 Td (last ) Tj ET Q q 0 0 0 rg BT 140.53 194.15 Td (year) Tj ET Q q 0 0 0 rg BT 157.54 194.15 Td (.) Tj ET Q endstream endobj 83 0 obj <> endobj 84 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (40) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 49.50 706.80 Td (6. ) Tj ET Q q 0 0 0 rg BT 85.50 706.80 Td (Eight Quarter Summary) Tj ET Q 0 0 0 RG /GS0 gs 1.50 w 0 i [] 0 d 0 J 0 j 3 M 57.5 696.3 m 57.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 692.3 m 57.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 57.5 692.3 m 142.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 142.5 692.3 m 228.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 228.5 692.3 m 337.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 692.3 m 475.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 692.3 m 561.5 692.3 l s 0 0 0 RG /GS0 gs 1.50 w 0 i [] 0 d 0 J 0 j 3 M 57.5 692.3 m 57.5 688.3 l s BT /F1 10.00 Tf ET 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 71.75 676.30 131.00 -33.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 202.75 676.30 45.00 -33.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 247.75 676.30 45.00 -33.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 292.75 676.30 45.00 -33.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 337.75 676.30 45.00 -33.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 382.75 676.30 45.00 -33.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 427.75 676.30 44.00 -33.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 471.75 676.30 45.00 -33.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 516.75 676.30 45.00 -33.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 71.75 631.30 131.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 202.75 631.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 247.75 631.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 292.75 631.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 337.75 631.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 382.75 631.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 427.75 631.30 44.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 471.75 631.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 516.75 631.30 45.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 618.30 45.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 605.30 45.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 592.30 45.00 -20.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 572.30 45.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 559.30 45.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 546.30 45.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 533.30 45.00 -20.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 71.75 513.30 131.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 202.75 513.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 247.75 513.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 292.75 513.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 337.75 513.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 382.75 513.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 427.75 513.30 44.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 471.75 513.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 516.75 513.30 45.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 500.30 45.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 487.30 45.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 474.30 45.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 461.30 45.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 448.30 45.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 435.30 45.00 -20.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 415.30 45.00 -20.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 395.30 45.00 -20.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 71.75 375.30 131.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 202.75 375.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 247.75 375.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 292.75 375.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 337.75 375.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 382.75 375.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 427.75 375.30 44.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 471.75 375.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 516.75 375.30 45.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 362.30 45.00 -20.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 342.30 45.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 329.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 71.75 316.30 131.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 202.75 316.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 247.75 316.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 292.75 316.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 337.75 316.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 382.75 316.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 427.75 316.30 44.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 471.75 316.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 516.75 316.30 45.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 303.30 45.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 290.30 45.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 277.30 45.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 264.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 71.75 251.30 131.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 202.75 251.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 247.75 251.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 292.75 251.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 337.75 251.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 382.75 251.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 427.75 251.30 44.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 471.75 251.30 45.00 -13.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 516.75 251.30 45.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 238.30 45.00 -20.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 218.30 45.00 -13.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 202.75 205.30 45.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.75 676.3 m 202.75 676.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 202.75 676.3 m 247.75 676.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 247.75 676.3 m 292.75 676.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 292.75 676.3 m 337.75 676.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 337.75 676.3 m 382.75 676.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 382.75 676.3 m 427.75 676.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 427.75 676.3 m 471.75 676.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 471.75 676.3 m 516.75 676.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 516.75 676.3 m 561.75 676.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.75 192.29999999999995 m 202.75 192.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 202.75 192.29999999999995 m 247.75 192.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 247.75 192.29999999999995 m 292.75 192.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 292.75 192.29999999999995 m 337.75 192.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 337.75 192.29999999999995 m 382.75 192.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 382.75 192.29999999999995 m 427.75 192.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 427.75 192.29999999999995 m 471.75 192.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 471.75 192.29999999999995 m 516.75 192.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 516.75 192.29999999999995 m 561.75 192.29999999999995 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 74.25 655.53 Td (As at and for the three months) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 74.25 647.53 Td (ended,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 208.25 655.53 Td (Sept. 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 215.85 647.53 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 253.70 655.53 Td (June 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 260.85 647.53 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 300.05 655.53 Td (Mar. 31,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 305.85 647.53 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 344.60 655.53 Td (Dec. 31,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 350.85 647.53 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 388.25 655.53 Td (Sept. 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 395.85 647.53 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 433.20 655.53 Td (June 30,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 440.35 647.53 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 479.05 655.53 Td (Mar. 31,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 484.85 647.53 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 523.60 655.53 Td (Dec. 31,) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 529.85 647.53 Td (2014) Tj ET Q BT /F4 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 74.25 634.98 Td (In millions of CAD unless otherwise noted) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.25 622.98 Td (Growth) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 609.78 Td (Revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 211.40 609.53 Td (2,582.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 253.40 609.53 Td (2,667.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 298.40 609.53 Td (2,750.0) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.40 609.53 Td (2,683.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 391.40 609.53 Td (2,585.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 435.90 609.53 Td (2,559.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 480.40 609.53 Td (2,601.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 525.40 609.53 Td (2,541.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 596.78 Td (Year-over-year revenue growth) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 212.95 596.53 Td (\(0.1%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 260.60 596.53 Td (4.2%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 305.60 596.53 Td (5.7%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 350.60 596.53 Td (5.6%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 395.60 596.53 Td (4.1%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 437.45 596.53 Td (\(4.0%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 481.95 596.53 Td (\(3.8%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 526.95 596.53 Td (\(3.9%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 583.98 Td (Constant currency year-over-year) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 575.98 Td (revenue growth) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 215.60 576.53 Td (2.8%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 260.60 576.53 Td (0.6%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 302.95 576.53 Td (\(1.0%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 347.95 576.53 Td (\(1.8%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 392.95 576.53 Td (\(3.1%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 437.45 576.53 Td (\(3.5%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 481.95 576.53 Td (\(3.5%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 526.95 576.53 Td (\(6.0%\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 563.78 Td (Backlog) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 212.50 563.53 Td (20,893) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 257.50 563.53 Td (20,614) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 302.50 563.53 Td (20,705) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 347.50 563.53 Td (21,505) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 392.50 563.53 Td (20,711) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 437.00 563.53 Td (19,697) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 481.50 563.53 Td (20,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 526.50 563.53 Td (20,175) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 550.78 Td (Bookings) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 214.70 550.53 Td (2,858) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 259.70 550.53 Td (2,940) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 304.70 550.53 Td (2,734) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.70 550.53 Td (3,199) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 394.70 550.53 Td (2,856) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 439.20 550.53 Td (2,227) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 483.70 550.53 Td (2,253) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 528.70 550.53 Td (4,304) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 537.78 Td (Book-to-bill ratio) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 211.15 537.53 Td (110.7%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 256.15 537.53 Td (110.2%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 303.40 537.53 Td (99.4%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.15 537.53 Td (119.2%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 391.15 537.53 Td (110.5%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 437.90 537.53 Td (87.0%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 482.40 537.53 Td (86.6%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 525.15 537.53 Td (169.4%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 524.98 Td (Book-to-bill ratio trailing twelve) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 516.98 Td (months) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 211.15 517.53 Td (109.8%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 256.15 517.53 Td (109.8%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 301.15 517.53 Td (104.1%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.15 517.53 Td (101.0%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 391.15 517.53 Td (113.2%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 435.65 517.53 Td (106.4%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 480.15 517.53 Td (107.4%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 525.15 517.53 Td (112.1%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.25 504.98 Td (Profitability) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 491.78 Td (Adjusted EBIT) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 214.70 491.53 Td (395.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 259.70 491.53 Td (390.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 304.70 491.53 Td (390.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.70 491.53 Td (384.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 394.70 491.53 Td (379.0) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 439.20 491.53 Td (371.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 483.70 491.53 Td (363.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 528.70 491.53 Td (344.0) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 80.25 478.73 Td (Adjusted EBIT margin) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 213.40 478.53 Td (15.3%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 258.40 478.48 Td (14.6%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 303.40 478.48 Td (14.2%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 348.40 478.48 Td (14.3%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 393.40 478.48 Td (14.7%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 437.90 478.48 Td (14.5%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 482.40 478.48 Td (14.0%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 527.40 478.48 Td (13.5%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 465.78 Td (Net earnings) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 214.70 465.53 Td (274.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 259.70 465.53 Td (273.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 304.70 465.53 Td (282.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.70 465.53 Td (237.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 394.70 465.53 Td (232.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 439.20 465.53 Td (257.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 483.70 465.53 Td (251.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 528.70 465.53 Td (236.3) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 80.25 452.73 Td (Net earnings margin) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 213.40 452.53 Td (10.6%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 258.40 452.48 Td (10.3%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 303.40 452.48 Td (10.3%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 350.60 452.48 Td (8.9%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 395.60 452.48 Td (9.0%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 437.90 452.48 Td (10.1%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 484.60 452.48 Td (9.7%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 529.60 452.48 Td (9.3%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 439.78 Td (Diluted EPS \(in dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 218.50 439.53 Td (0.89) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 261.95 439.53 Td (0.89) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 306.95 439.53 Td (0.90) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 351.95 439.53 Td (0.75) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 396.95 439.53 Td (0.73) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 441.45 439.53 Td (0.80) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 485.95 439.53 Td (0.78) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 530.95 439.53 Td (0.74) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 426.98 Td (Net earnings excluding specific) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 418.98 Td (items) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 214.70 419.53 Td (274.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 259.70 419.53 Td (273.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 304.70 419.53 Td (268.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.70 419.53 Td (264.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 394.70 419.53 Td (260.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 439.20 419.53 Td (257.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 483.70 419.53 Td (251.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 528.70 419.53 Td (236.3) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 80.25 406.98 Td (Net earnings margin excluding) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 80.25 398.98 Td (specific items) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 213.40 399.53 Td (10.6%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 258.40 399.48 Td (10.3%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 305.60 399.48 Td (9.8%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 350.60 399.48 Td (9.9%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 393.40 399.48 Td (10.1%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 437.90 399.48 Td (10.1%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 484.60 399.48 Td (9.7%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 529.60 399.48 Td (9.3%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 386.98 Td (Diluted EPS excluding specific) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 378.98 Td (items \(in dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 216.95 379.53 Td (0.89) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 261.95 379.53 Td (0.89) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 306.95 379.53 Td (0.86) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 351.95 379.53 Td (0.84) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 396.95 379.53 Td (0.82) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 441.45 379.53 Td (0.80) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 485.95 379.53 Td (0.78) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 530.95 379.53 Td (0.74) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.25 366.98 Td (Liquidity) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 353.98 Td (Cash provided by operating) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 345.98 Td (activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 214.70 346.53 Td (401.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 259.70 346.53 Td (351.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 304.70 346.53 Td (251.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.70 346.53 Td (328.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 394.70 346.53 Td (451.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 439.20 346.53 Td (214.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 483.70 346.53 Td (284.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 528.70 346.53 Td (339.2) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 80.25 333.73 Td (As a % of revenue) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 213.40 333.53 Td (15.6%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 258.40 333.48 Td (13.2%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 305.60 333.48 Td (9.1%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 348.40 333.48 Td (12.2%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 393.40 333.48 Td (17.5%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 440.10 333.48 Td (8.4%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 482.40 333.48 Td (10.9%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 527.40 333.48 Td (13.3%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 320.78 Td (Days sales outstanding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 220.30 320.53 Td (44) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 265.30 320.53 Td (45) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 310.30 320.53 Td (41) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 355.30 320.53 Td (44) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 400.30 320.53 Td (44) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 444.80 320.53 Td (46) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 489.30 320.53 Td (41) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 534.30 320.53 Td (42) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.25 307.98 Td (Capital structure) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 294.78 Td (Net debt) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 211.40 294.53 Td (1,333.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 256.40 294.53 Td (1,648.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 301.40 294.53 Td (1,926.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.40 294.53 Td (1,573.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 391.40 294.53 Td (1,779.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 435.90 294.53 Td (1,791.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 480.40 294.53 Td (1,869.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 525.40 294.53 Td (1,924.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 281.78 Td (Net debt to capitalization ratio) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 218.50 281.53 Td (15.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 234.10 281.53 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 263.50 281.53 Td (20.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 279.10 281.53 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 308.50 281.53 Td (23.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 324.10 281.58 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 353.50 281.58 Td (18.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 369.10 281.53 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 398.50 281.58 Td (21.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 414.10 281.53 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 442.50 281.58 Td (22.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 458.10 281.53 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.50 281.58 Td (24.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 503.10 281.53 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 532.50 281.58 Td (25.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 548.10 281.53 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 268.78 Td (Return on equity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 218.50 268.53 Td (17.2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 234.10 268.53 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 263.50 268.53 Td (16.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 279.10 268.53 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 308.50 268.53 Td (16.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 324.10 268.58 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 353.50 268.58 Td (16.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 369.10 268.53 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 398.50 268.58 Td (17.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 414.10 268.53 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 442.50 268.58 Td (18.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 458.10 268.53 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.50 268.58 Td (18.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 503.10 268.53 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 532.50 268.58 Td (18.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 548.10 268.53 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 255.78 Td (Return on invested capital) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 218.50 255.53 Td (14.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 234.10 255.53 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 263.50 255.53 Td (14.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 279.10 255.53 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 308.50 255.53 Td (14.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 324.10 255.58 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 353.50 255.58 Td (14.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 369.10 255.53 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 398.50 255.58 Td (14.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 414.10 255.53 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 442.50 255.58 Td (14.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 458.10 255.53 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.50 255.58 Td (14.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 503.10 255.53 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 532.50 255.58 Td (14.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 548.10 255.53 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.25 242.98 Td (Balance sheet) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 229.98 Td (Cash and cash equivalents, and) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 221.98 Td (short-term investments) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 214.70 222.53 Td (596.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 259.70 222.53 Td (283.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 304.70 222.53 Td (168.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.70 222.53 Td (552.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 394.70 222.53 Td (305.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 439.20 222.53 Td (264.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 483.70 222.53 Td (223.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 528.70 222.53 Td (489.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 209.78 Td (Total assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 209.15 209.53 Td (11,693.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 254.15 209.53 Td (11,434.0) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 299.15 209.53 Td (11,417.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 344.15 209.53 Td (12,130.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 389.15 209.53 Td (11,787.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 433.65 209.53 Td (11,190.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 478.15 209.53 Td (10,985.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 523.15 209.53 Td (11,171.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.25 196.78 Td (Long-term financial liabilities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 211.40 196.53 Td (1,765.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 256.40 196.53 Td (1,764.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 301.40 196.53 Td (1,928.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.40 196.53 Td (1,822.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 391.40 196.53 Td (1,896.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 435.90 196.53 Td (1,765.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 480.40 196.53 Td (2,067.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 525.40 196.53 Td (2,451.5) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 173.30 Td (There ) Tj ET Q q 0 0 0 rg BT 97.95 173.30 Td (are ) Tj ET Q q 0 0 0 rg BT 113.39 173.30 Td (factors ) Tj ET Q q 0 0 0 rg BT 142.84 173.30 Td (causing ) Tj ET Q q 0 0 0 rg BT 176.30 173.30 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 213.75 173.30 Td (variances ) Tj ET Q q 0 0 0 rg BT 254.71 173.30 Td (which ) Tj ET Q q 0 0 0 rg BT 280.16 173.30 Td (may ) Tj ET Q q 0 0 0 rg BT 299.60 173.30 Td (not ) Tj ET Q q 0 0 0 rg BT 314.55 173.30 Td (be ) Tj ET Q q 0 0 0 rg BT 327.00 173.30 Td (reflective ) Tj ET Q q 0 0 0 rg BT 365.45 173.30 Td (of ) Tj ET Q q 0 0 0 rg BT 375.39 173.30 Td (the ) Tj ET Q q 0 0 0 rg BT 390.34 173.30 Td (Company) Tj ET Q q 0 0 0 rg BT 430.70 173.30 Td (s ) Tj ET Q q 0 0 0 rg BT 437.63 173.30 Td (future ) Tj ET Q q 0 0 0 rg BT 463.09 173.30 Td (performance. ) Tj ET Q q 0 0 0 rg BT 518.55 173.30 Td (First, ) Tj ET Q q 0 0 0 rg BT 540.98 173.30 Td (there ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 159.80 Td (is ) Tj ET Q q 0 0 0 rg BT 80.96 159.80 Td (seasonality ) Tj ET Q q 0 0 0 rg BT 128.44 159.80 Td (in ) Tj ET Q q 0 0 0 rg BT 137.90 159.80 Td (systems ) Tj ET Q q 0 0 0 rg BT 173.36 159.80 Td (integration ) Tj ET Q q 0 0 0 rg BT 217.85 159.80 Td (and ) Tj ET Q q 0 0 0 rg BT 235.32 159.80 Td (consulting ) Tj ET Q q 0 0 0 rg BT 278.30 159.80 Td (work, ) Tj ET Q q 0 0 0 rg BT 302.26 159.80 Td (and ) Tj ET Q q 0 0 0 rg BT 319.73 159.80 Td (the ) Tj ET Q q 0 0 0 rg BT 334.70 159.80 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 372.17 159.80 Td (performance ) Tj ET Q q 0 0 0 rg BT 425.15 159.80 Td (of ) Tj ET Q q 0 0 0 rg BT 435.12 159.80 Td (these ) Tj ET Q q 0 0 0 rg BT 459.59 159.80 Td (operations ) Tj ET Q q 0 0 0 rg BT 504.07 159.80 Td (is ) Tj ET Q q 0 0 0 rg BT 513.03 159.80 Td (impacted ) Tj ET Q q 0 0 0 rg BT 552.01 159.80 Td (by ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 146.30 Td (occurrences ) Tj ET Q q 0 0 0 rg BT 123.94 146.30 Td (such ) Tj ET Q q 0 0 0 rg BT 145.88 146.30 Td (as ) Tj ET Q q 0 0 0 rg BT 158.30 146.30 Td (vacations ) Tj ET Q q 0 0 0 rg BT 199.25 146.30 Td (and ) Tj ET Q q 0 0 0 rg BT 217.18 146.30 Td (the ) Tj ET Q q 0 0 0 rg BT 232.62 146.30 Td (number ) Tj ET Q q 0 0 0 rg BT 266.05 146.30 Td (of ) Tj ET Q q 0 0 0 rg BT 276.48 146.30 Td (statutory ) Tj ET Q q 0 0 0 rg BT 313.92 146.30 Td (holidays ) Tj ET Q q 0 0 0 rg BT 349.86 146.30 Td (in ) Tj ET Q q 0 0 0 rg BT 359.79 146.30 Td (any ) Tj ET Q q 0 0 0 rg BT 377.22 146.30 Td (given ) Tj ET Q q 0 0 0 rg BT 401.66 146.30 Td (quarter) Tj ET Q q 0 0 0 rg BT 429.68 146.30 Td (. ) Tj ET Q q 0 0 0 rg BT 435.10 146.30 Td (Outsourcing ) Tj ET Q q 0 0 0 rg BT 486.55 146.30 Td (contracts ) Tj ET Q q 0 0 0 rg BT 525.98 146.30 Td (including ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 132.80 Td (BPS ) Tj ET Q q 0 0 0 rg BT 93.21 132.80 Td (contracts ) Tj ET Q q 0 0 0 rg BT 132.93 132.80 Td (are ) Tj ET Q q 0 0 0 rg BT 149.13 132.80 Td (af) Tj ET Q q 0 0 0 rg BT 156.48 132.80 Td (fected ) Tj ET Q q 0 0 0 rg BT 184.20 132.80 Td (to ) Tj ET Q q 0 0 0 rg BT 194.90 132.80 Td (a ) Tj ET Q q 0 0 0 rg BT 203.11 132.80 Td (lesser ) Tj ET Q q 0 0 0 rg BT 230.32 132.80 Td (extent ) Tj ET Q q 0 0 0 rg BT 258.04 132.80 Td (by ) Tj ET Q q 0 0 0 rg BT 270.74 132.80 Td (seasonality) Tj ET Q q 0 0 0 rg BT 315.10 132.80 Td (. ) Tj ET Q q 0 0 0 rg BT 320.80 132.80 Td (Second, ) Tj ET Q q 0 0 0 rg BT 357.03 132.80 Td (the ) Tj ET Q q 0 0 0 rg BT 372.74 132.80 Td (workflow ) Tj ET Q q 0 0 0 rg BT 410.95 132.80 Td (from ) Tj ET Q q 0 0 0 rg BT 432.15 132.80 Td (some ) Tj ET Q q 0 0 0 rg BT 457.36 132.80 Td (clients ) Tj ET Q q 0 0 0 rg BT 486.07 132.80 Td (may ) Tj ET Q q 0 0 0 rg BT 506.27 132.80 Td (fluctuate ) Tj ET Q q 0 0 0 rg BT 543.50 132.80 Td (from ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 119.30 Td (quarter ) Tj ET Q q 0 0 0 rg BT 103.99 119.30 Td (to ) Tj ET Q q 0 0 0 rg BT 114.97 119.30 Td (quarter ) Tj ET Q q 0 0 0 rg BT 146.95 119.30 Td (based ) Tj ET Q q 0 0 0 rg BT 174.95 119.30 Td (on ) Tj ET Q q 0 0 0 rg BT 188.43 119.30 Td (their ) Tj ET Q q 0 0 0 rg BT 209.41 119.30 Td (business ) Tj ET Q q 0 0 0 rg BT 248.40 119.30 Td (cycle ) Tj ET Q q 0 0 0 rg BT 272.38 119.30 Td (and ) Tj ET Q q 0 0 0 rg BT 290.87 119.30 Td (the ) Tj ET Q q 0 0 0 rg BT 306.85 119.30 Td (seasonality ) Tj ET Q q 0 0 0 rg BT 355.35 119.30 Td (of ) Tj ET Q q 0 0 0 rg BT 366.33 119.30 Td (their ) Tj ET Q q 0 0 0 rg BT 387.31 119.30 Td (own ) Tj ET Q q 0 0 0 rg BT 407.29 119.30 Td (operations. ) Tj ET Q q 0 0 0 rg BT 455.07 119.30 Td (Third, ) Tj ET Q q 0 0 0 rg BT 481.55 119.30 Td (the ) Tj ET Q q 0 0 0 rg BT 497.53 119.30 Td (savings ) Tj ET Q q 0 0 0 rg BT 531.52 119.30 Td (that ) Tj ET Q q 0 0 0 rg BT 550.00 119.30 Td (we ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 105.80 Td (generate ) Tj ET Q q 0 0 0 rg BT 110.33 105.80 Td (for ) Tj ET Q q 0 0 0 rg BT 123.64 105.80 Td (a ) Tj ET Q q 0 0 0 rg BT 131.45 105.80 Td (client ) Tj ET Q q 0 0 0 rg BT 155.26 105.80 Td (on ) Tj ET Q q 0 0 0 rg BT 168.08 105.80 Td (a ) Tj ET Q q 0 0 0 rg BT 175.88 105.80 Td (given ) Tj ET Q q 0 0 0 rg BT 200.20 105.80 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 249.54 105.80 Td (contract ) Tj ET Q q 0 0 0 rg BT 284.35 105.80 Td (may ) Tj ET Q q 0 0 0 rg BT 304.16 105.80 Td (temporarily ) Tj ET Q q 0 0 0 rg BT 351.47 105.80 Td (reduce ) Tj ET Q q 0 0 0 rg BT 381.80 105.80 Td (our ) Tj ET Q q 0 0 0 rg BT 397.61 105.80 Td (revenue ) Tj ET Q q 0 0 0 rg BT 432.93 105.80 Td (stream ) Tj ET Q q 0 0 0 rg BT 463.24 105.80 Td (from ) Tj ET Q q 0 0 0 rg BT 484.05 105.80 Td (this ) Tj ET Q q 0 0 0 rg BT 500.85 105.80 Td (client, ) Tj ET Q q 0 0 0 rg BT 527.17 105.80 Td (as ) Tj ET Q q 0 0 0 rg BT 539.48 105.80 Td (these ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 92.30 Td (savings ) Tj ET Q q 0 0 0 rg BT 105.02 92.30 Td (may ) Tj ET Q q 0 0 0 rg BT 124.52 92.30 Td (not ) Tj ET Q q 0 0 0 rg BT 139.53 92.30 Td (be ) Tj ET Q q 0 0 0 rg BT 152.04 92.30 Td (immediately ) Tj ET Q q 0 0 0 rg BT 202.56 92.30 Td (of) Tj ET Q q 0 0 0 rg BT 209.90 92.30 Td (fset ) Tj ET Q q 0 0 0 rg BT 226.91 92.30 Td (by ) Tj ET Q q 0 0 0 rg BT 238.91 92.30 Td (additional ) Tj ET Q q 0 0 0 rg BT 279.94 92.30 Td (work ) Tj ET Q q 0 0 0 rg BT 301.45 92.30 Td (performed ) Tj ET Q q 0 0 0 rg BT 344.97 92.30 Td (for ) Tj ET Q q 0 0 0 rg BT 357.97 92.30 Td (this ) Tj ET Q q 0 0 0 rg BT 374.48 92.30 Td (client.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 72.80 Td (In ) Tj ET Q q 0 0 0 rg BT 82.88 72.80 Td (general, ) Tj ET Q q 0 0 0 rg BT 118.78 72.80 Td (cash ) Tj ET Q q 0 0 0 rg BT 141.17 72.80 Td (flow ) Tj ET Q q 0 0 0 rg BT 160.55 72.80 Td (from ) Tj ET Q q 0 0 0 rg BT 181.93 72.80 Td (operating ) Tj ET Q q 0 0 0 rg BT 222.83 72.80 Td (activities ) Tj ET Q q 0 0 0 rg BT 260.72 72.80 Td (could ) Tj ET Q q 0 0 0 rg BT 285.61 72.80 Td (vary ) Tj ET Q q 0 0 0 rg BT 305.99 72.80 Td (significantly ) Tj ET Q q 0 0 0 rg BT 355.88 72.80 Td (from ) Tj ET Q q 0 0 0 rg BT 377.26 72.80 Td (quarter ) Tj ET Q q 0 0 0 rg BT 409.15 72.80 Td (to ) Tj ET Q q 0 0 0 rg BT 420.03 72.80 Td (quarter ) Tj ET Q q 0 0 0 rg BT 451.93 72.80 Td (depending ) Tj ET Q q 0 0 0 rg BT 497.34 72.80 Td (on ) Tj ET Q q 0 0 0 rg BT 510.73 72.80 Td (the ) Tj ET Q q 0 0 0 rg BT 526.62 72.80 Td (timing ) Tj ET Q q 0 0 0 rg BT 554.00 72.80 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 59.30 Td (monthly ) Tj ET Q q 0 0 0 rg BT 106.27 59.30 Td (payments ) Tj ET Q q 0 0 0 rg BT 148.04 59.30 Td (received ) Tj ET Q q 0 0 0 rg BT 184.81 59.30 Td (from ) Tj ET Q q 0 0 0 rg BT 205.56 59.30 Td (large ) Tj ET Q q 0 0 0 rg BT 228.32 59.30 Td (clients, ) Tj ET Q q 0 0 0 rg BT 259.09 59.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 280.85 59.30 Td (requirements ) Tj ET Q q 0 0 0 rg BT 336.12 59.30 Td (associated ) Tj ET Q q 0 0 0 rg BT 381.90 59.30 Td (with ) Tj ET Q q 0 0 0 rg BT 400.66 59.30 Td (large ) Tj ET Q q 0 0 0 rg BT 423.42 59.30 Td (acquisitions, ) Tj ET Q q 0 0 0 rg BT 475.70 59.30 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 524.98 59.30 Td (contracts ) Tj ET Q endstream endobj 85 0 obj <> endobj 86 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (41) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 708.95 Td (and ) Tj ET Q q 0 0 0 rg BT 89.31 708.95 Td (projects, ) Tj ET Q q 0 0 0 rg BT 125.61 708.95 Td (the ) Tj ET Q q 0 0 0 rg BT 140.41 708.95 Td (timing ) Tj ET Q q 0 0 0 rg BT 166.70 708.95 Td (of ) Tj ET Q q 0 0 0 rg BT 176.50 708.95 Td (the ) Tj ET Q q 0 0 0 rg BT 191.30 708.95 Td (reimbursements ) Tj ET Q q 0 0 0 rg BT 258.11 708.95 Td (for ) Tj ET Q q 0 0 0 rg BT 270.90 708.95 Td (various ) Tj ET Q q 0 0 0 rg BT 302.20 708.95 Td (tax ) Tj ET Q q 0 0 0 rg BT 316.50 708.95 Td (credits ) Tj ET Q q 0 0 0 rg BT 345.29 708.95 Td (as ) Tj ET Q q 0 0 0 rg BT 357.09 708.95 Td (well ) Tj ET Q q 0 0 0 rg BT 374.88 708.95 Td (as ) Tj ET Q q 0 0 0 rg BT 386.68 708.95 Td (profit ) Tj ET Q q 0 0 0 rg BT 408.97 708.95 Td (sharing ) Tj ET Q q 0 0 0 rg BT 440.78 708.95 Td (payments ) Tj ET Q q 0 0 0 rg BT 482.09 708.95 Td (to ) Tj ET Q q 0 0 0 rg BT 491.88 708.95 Td (members ) Tj ET Q q 0 0 0 rg BT 531.68 708.95 Td (and ) Tj ET Q q 0 0 0 rg BT 548.99 708.95 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 695.45 Td (timing ) Tj ET Q q 0 0 0 rg BT 98.51 695.45 Td (of ) Tj ET Q q 0 0 0 rg BT 108.51 695.45 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 161.03 695.45 Td (cost ) Tj ET Q q 0 0 0 rg BT 180.04 695.45 Td (payments.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 675.95 Td (Foreign ) Tj ET Q q 0 0 0 rg BT 104.69 675.95 Td (exchange ) Tj ET Q q 0 0 0 rg BT 145.89 675.95 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 193.58 675.95 Td (can ) Tj ET Q q 0 0 0 rg BT 210.26 675.95 Td (also ) Tj ET Q q 0 0 0 rg BT 228.94 675.95 Td (contribute ) Tj ET Q q 0 0 0 rg BT 270.64 675.95 Td (to ) Tj ET Q q 0 0 0 rg BT 280.31 675.95 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 317.50 675.95 Td (variances ) Tj ET Q q 0 0 0 rg BT 358.19 675.95 Td (as ) Tj ET Q q 0 0 0 rg BT 369.86 675.95 Td (our ) Tj ET Q q 0 0 0 rg BT 385.04 675.95 Td (percentage ) Tj ET Q q 0 0 0 rg BT 432.24 675.95 Td (of ) Tj ET Q q 0 0 0 rg BT 441.92 675.95 Td (operations ) Tj ET Q q 0 0 0 rg BT 486.12 675.95 Td (in ) Tj ET Q q 0 0 0 rg BT 495.29 675.95 Td (foreign ) Tj ET Q q 0 0 0 rg BT 524.98 675.95 Td (countries ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 662.45 Td (evolves. ) Tj ET Q q 0 0 0 rg BT 106.95 662.45 Td (The ) Tj ET Q q 0 0 0 rg BT 124.53 662.45 Td (ef) Tj ET Q q 0 0 0 rg BT 131.88 662.45 Td (fect ) Tj ET Q q 0 0 0 rg BT 148.45 662.45 Td (from ) Tj ET Q q 0 0 0 rg BT 168.53 662.45 Td (these ) Tj ET Q q 0 0 0 rg BT 192.61 662.45 Td (variances ) Tj ET Q q 0 0 0 rg BT 233.20 662.45 Td (is ) Tj ET Q q 0 0 0 rg BT 241.78 662.45 Td (primarily ) Tj ET Q q 0 0 0 rg BT 277.85 662.45 Td (on ) Tj ET Q q 0 0 0 rg BT 289.93 662.45 Td (our ) Tj ET Q q 0 0 0 rg BT 305.01 662.45 Td (revenue ) Tj ET Q q 0 0 0 rg BT 339.61 662.45 Td (and ) Tj ET Q q 0 0 0 rg BT 356.69 662.45 Td (to ) Tj ET Q q 0 0 0 rg BT 366.27 662.45 Td (a ) Tj ET Q q 0 0 0 rg BT 373.35 662.45 Td (much ) Tj ET Q q 0 0 0 rg BT 397.43 662.45 Td (lesser ) Tj ET Q q 0 0 0 rg BT 423.51 662.45 Td (extent, ) Tj ET Q q 0 0 0 rg BT 452.60 662.45 Td (on ) Tj ET Q q 0 0 0 rg BT 464.68 662.45 Td (our ) Tj ET Q q 0 0 0 rg BT 479.76 662.45 Td (margin ) Tj ET Q q 0 0 0 rg BT 509.34 662.45 Td (as ) Tj ET Q q 0 0 0 rg BT 520.92 662.45 Td (we ) Tj ET Q q 0 0 0 rg BT 534.49 662.45 Td (benefit ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 648.95 Td (from ) Tj ET Q q 0 0 0 rg BT 92.50 648.95 Td (natural ) Tj ET Q q 0 0 0 rg BT 122.52 648.95 Td (hedges.) Tj ET Q endstream endobj 87 0 obj <> endobj 88 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (42) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 49.50 706.80 Td (7. ) Tj ET Q q 0 0 0 rg BT 72.00 706.80 Td (Changes in ) Tj ET Q q 0 0 0 rg BT 139.56 706.80 Td (Accounting Policies) Tj ET Q 0 0 0 RG /GS0 gs 1.50 w 0 i [] 0 d 0 J 0 j 3 M 57.5 694.3 m 57.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 690.3 m 57.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 57.5 690.3 m 142.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 142.5 690.3 m 228.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 228.5 690.3 m 337.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 690.3 m 475.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 690.3 m 561.5 690.3 l s 0 0 0 RG /GS0 gs 1.50 w 0 i [] 0 d 0 J 0 j 3 M 57.5 690.3 m 57.5 686.3 l s BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 664.30 Td (The ) Tj ET Q q 0 0 0 rg BT 90.83 664.30 Td (audited ) Tj ET Q q 0 0 0 rg BT 123.69 664.30 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 177.55 664.30 Td (financial ) Tj ET Q q 0 0 0 rg BT 213.90 664.30 Td (statements ) Tj ET Q q 0 0 0 rg BT 261.24 664.30 Td (for ) Tj ET Q q 0 0 0 rg BT 275.07 664.30 Td (the ) Tj ET Q q 0 0 0 rg BT 290.91 664.30 Td (year ) Tj ET Q q 0 0 0 rg BT 311.74 664.30 Td (ended ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 340.09 664.30 Td (September30, ) Tj ET Q q 0 0 0 rg BT 402.45 664.30 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 422.48 664.30 Td ( ) Tj ET Q q 0 0 0 rg BT 425.80 664.30 Td (include ) Tj ET Q q 0 0 0 rg BT 457.65 664.30 Td (all ) Tj ET Q q 0 0 0 rg BT 469.98 664.30 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 521.83 664.30 Td (that ) Tj ET Q q 0 0 0 rg BT 540.17 664.30 Td (CGI) Tj ET Q q 0 0 0 rg BT 558.00 664.30 Td (s ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 650.80 Td (management ) Tj ET Q q 0 0 0 rg BT 127.03 650.80 Td (considers ) Tj ET Q q 0 0 0 rg BT 168.05 650.80 Td (necessary ) Tj ET Q q 0 0 0 rg BT 211.57 650.80 Td (for ) Tj ET Q q 0 0 0 rg BT 224.57 650.80 Td (the ) Tj ET Q q 0 0 0 rg BT 239.59 650.80 Td (fair ) Tj ET Q q 0 0 0 rg BT 254.59 650.80 Td (presentation ) Tj ET Q q 0 0 0 rg BT 306.62 650.80 Td (of ) Tj ET Q q 0 0 0 rg BT 316.63 650.80 Td (its ) Tj ET Q q 0 0 0 rg BT 328.13 650.80 Td (financial ) Tj ET Q q 0 0 0 rg BT 363.65 650.80 Td (position, ) Tj ET Q q 0 0 0 rg BT 399.67 650.80 Td (results ) Tj ET Q q 0 0 0 rg BT 428.68 650.80 Td (of ) Tj ET Q q 0 0 0 rg BT 438.69 650.80 Td (operations, ) Tj ET Q q 0 0 0 rg BT 485.72 650.80 Td (and ) Tj ET Q q 0 0 0 rg BT 503.24 650.80 Td (cash ) Tj ET Q q 0 0 0 rg BT 524.75 650.80 Td (flows.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 72.00 628.30 Td (FUTURE ) Tj ET Q q 0 0 0 rg BT 110.66 628.30 Td (ACCOUNTING ) Tj ET Q q 0 0 0 rg BT 174.16 628.30 Td (ST) Tj ET Q q 0 0 0 rg BT 184.99 628.30 Td (ANDARD ) Tj ET Q q 0 0 0 rg BT 226.49 628.30 Td (CHANGES) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 614.50 Td (The ) Tj ET Q q 0 0 0 rg BT 90.01 614.50 Td (following ) Tj ET Q q 0 0 0 rg BT 127.53 614.50 Td (standards ) Tj ET Q q 0 0 0 rg BT 169.55 614.50 Td (have ) Tj ET Q q 0 0 0 rg BT 191.57 614.50 Td (been ) Tj ET Q q 0 0 0 rg BT 214.09 614.50 Td (issued ) Tj ET Q q 0 0 0 rg BT 242.61 614.50 Td (but ) Tj ET Q q 0 0 0 rg BT 257.62 614.50 Td (are ) Tj ET Q q 0 0 0 rg BT 273.13 614.50 Td (not ) Tj ET Q q 0 0 0 rg BT 288.14 614.50 Td (yet ) Tj ET Q q 0 0 0 rg BT 302.65 614.50 Td (ef) Tj ET Q q 0 0 0 rg BT 309.99 614.50 Td (fective:) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 72.00 592.00 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 95.00 592.00 Td (15 ) Tj ET Q q 0 0 0 rg BT 107.51 592.00 Td (- ) Tj ET Q q 0 0 0 rg BT 113.01 592.00 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 153.03 592.00 Td (from ) Tj ET Q q 0 0 0 rg BT 175.53 592.00 Td (Contracts ) Tj ET Q q 0 0 0 rg BT 220.03 592.00 Td (with ) Tj ET Q q 0 0 0 rg BT 240.53 592.00 Td (Customers) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 578.20 Td (In ) Tj ET Q q 0 0 0 rg BT 82.44 578.20 Td (May ) Tj ET Q q 0 0 0 rg BT 102.38 578.20 Td (2014, ) Tj ET Q q 0 0 0 rg BT 127.84 578.20 Td (the ) Tj ET Q q 0 0 0 rg BT 143.29 578.20 Td (IASB ) Tj ET Q q 0 0 0 rg BT 166.73 578.20 Td (issued ) Tj ET Q q 0 0 0 rg BT 195.69 578.20 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 219.12 578.20 Td (15, ) Tj ET Q q 0 0 0 rg BT 234.57 578.20 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 276.53 578.20 Td (from ) Tj ET Q q 0 0 0 rg BT 297.47 578.20 Td (Contracts ) Tj ET Q q 0 0 0 rg BT 338.92 578.20 Td (with ) Tj ET Q q 0 0 0 rg BT 357.86 578.20 Td (Customers, ) Tj ET Q q 0 0 0 rg BT 409.80 578.20 Td (to ) Tj ET Q q 0 0 0 rg BT 420.25 578.20 Td (specify ) Tj ET Q q 0 0 0 rg BT 451.19 578.20 Td (how ) Tj ET Q q 0 0 0 rg BT 470.64 578.20 Td (and ) Tj ET Q q 0 0 0 rg BT 488.59 578.20 Td (when ) Tj ET Q q 0 0 0 rg BT 513.04 578.20 Td (to ) Tj ET Q q 0 0 0 rg BT 523.49 578.20 Td (recognize ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 564.70 Td (revenue ) Tj ET Q q 0 0 0 rg BT 107.43 564.70 Td (as ) Tj ET Q q 0 0 0 rg BT 119.85 564.70 Td (well ) Tj ET Q q 0 0 0 rg BT 138.26 564.70 Td (as ) Tj ET Q q 0 0 0 rg BT 150.67 564.70 Td (requiring ) Tj ET Q q 0 0 0 rg BT 188.60 564.70 Td (the ) Tj ET Q q 0 0 0 rg BT 204.02 564.70 Td (provision ) Tj ET Q q 0 0 0 rg BT 242.94 564.70 Td (of ) Tj ET Q q 0 0 0 rg BT 253.36 564.70 Td (more ) Tj ET Q q 0 0 0 rg BT 276.77 564.70 Td (informative ) Tj ET Q q 0 0 0 rg BT 323.70 564.70 Td (and ) Tj ET Q q 0 0 0 rg BT 341.62 564.70 Td (relevant ) Tj ET Q q 0 0 0 rg BT 376.55 564.70 Td (disclosures. ) Tj ET Q q 0 0 0 rg BT 426.78 564.70 Td (The ) Tj ET Q q 0 0 0 rg BT 445.20 564.70 Td (standard ) Tj ET Q q 0 0 0 rg BT 483.13 564.70 Td (supersedes ) Tj ET Q q 0 0 0 rg BT 532.57 564.70 Td (IAS ) Tj ET Q q 0 0 0 rg BT 549.99 564.70 Td (18, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 551.20 Td (Revenue, ) Tj ET Q q 0 0 0 rg BT 119.88 551.20 Td (IAS ) Tj ET Q q 0 0 0 rg BT 137.74 551.20 Td (1) Tj ET Q q 0 0 0 rg BT 142.07 551.20 Td (1, ) Tj ET Q q 0 0 0 rg BT 152.93 551.20 Td (Construction ) Tj ET Q q 0 0 0 rg BT 209.81 551.20 Td (Contracts, ) Tj ET Q q 0 0 0 rg BT 257.17 551.20 Td (and ) Tj ET Q q 0 0 0 rg BT 275.54 551.20 Td (other ) Tj ET Q q 0 0 0 rg BT 299.41 551.20 Td (revenue ) Tj ET Q q 0 0 0 rg BT 335.29 551.20 Td (related ) Tj ET Q q 0 0 0 rg BT 366.16 551.20 Td (Interpretations. ) Tj ET Q q 0 0 0 rg BT 429.33 551.20 Td (The ) Tj ET Q q 0 0 0 rg BT 448.19 551.20 Td (standard ) Tj ET Q q 0 0 0 rg BT 486.57 551.20 Td (will ) Tj ET Q q 0 0 0 rg BT 502.42 551.20 Td (be ) Tj ET Q q 0 0 0 rg BT 515.79 551.20 Td (ef) Tj ET Q q 0 0 0 rg BT 523.13 551.20 Td (fective ) Tj ET Q q 0 0 0 rg BT 552.50 551.20 Td (on ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 537.70 Td (October ) Tj ET Q q 0 0 0 rg BT 107.11 537.70 Td (1, ) Tj ET Q q 0 0 0 rg BT 117.70 537.70 Td (2018 ) Tj ET Q q 0 0 0 rg BT 140.82 537.70 Td (for ) Tj ET Q q 0 0 0 rg BT 154.41 537.70 Td (the ) Tj ET Q q 0 0 0 rg BT 170.01 537.70 Td (Company) Tj ET Q q 0 0 0 rg BT 207.86 537.70 Td (, ) Tj ET Q q 0 0 0 rg BT 213.45 537.70 Td (with ) Tj ET Q q 0 0 0 rg BT 232.55 537.70 Td (earlier ) Tj ET Q q 0 0 0 rg BT 260.65 537.70 Td (adoption ) Tj ET Q q 0 0 0 rg BT 298.27 537.70 Td (permitted. ) Tj ET Q q 0 0 0 rg BT 341.18 537.70 Td (The ) Tj ET Q q 0 0 0 rg BT 359.78 537.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 401.39 537.70 Td (is ) Tj ET Q q 0 0 0 rg BT 410.98 537.70 Td (currently ) Tj ET Q q 0 0 0 rg BT 448.58 537.70 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 492.71 537.70 Td (the ) Tj ET Q q 0 0 0 rg BT 508.31 537.70 Td (impact ) Tj ET Q q 0 0 0 rg BT 537.91 537.70 Td (of ) Tj ET Q q 0 0 0 rg BT 548.50 537.70 Td (this ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 524.20 Td (standard ) Tj ET Q q 0 0 0 rg BT 109.52 524.20 Td (on ) Tj ET Q q 0 0 0 rg BT 122.04 524.20 Td (its ) Tj ET Q q 0 0 0 rg BT 133.54 524.20 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 186.57 524.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 222.10 524.20 Td (statements.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 72.00 501.70 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 95.00 501.70 Td (9 ) Tj ET Q q 0 0 0 rg BT 102.51 501.70 Td (- ) Tj ET Q q 0 0 0 rg BT 108.00 501.70 Td (Financial ) Tj ET Q q 0 0 0 rg BT 149.52 501.70 Td (Instruments) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 201.02 501.70 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 485.20 Td (In ) Tj ET Q q 0 0 0 rg BT 83.12 485.20 Td (July ) Tj ET Q q 0 0 0 rg BT 102.73 485.20 Td (2014, ) Tj ET Q q 0 0 0 rg BT 128.86 485.20 Td (the ) Tj ET Q q 0 0 0 rg BT 144.99 485.20 Td (IASB ) Tj ET Q q 0 0 0 rg BT 169.10 485.20 Td (amended ) Tj ET Q q 0 0 0 rg BT 210.24 485.20 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 234.36 485.20 Td (9, ) Tj ET Q q 0 0 0 rg BT 245.47 485.20 Td (Financial ) Tj ET Q q 0 0 0 rg BT 288.10 485.20 Td (Instruments, ) Tj ET Q q 0 0 0 rg BT 344.22 485.20 Td (to ) Tj ET Q q 0 0 0 rg BT 355.34 485.20 Td (bring ) Tj ET Q q 0 0 0 rg BT 378.96 485.20 Td (together ) Tj ET Q q 0 0 0 rg BT 415.60 485.20 Td (the ) Tj ET Q q 0 0 0 rg BT 431.72 485.20 Td (classification ) Tj ET Q q 0 0 0 rg BT 486.35 485.20 Td (and ) Tj ET Q q 0 0 0 rg BT 504.98 485.20 Td (measurement, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 471.70 Td (impairment ) Tj ET Q q 0 0 0 rg BT 119.29 471.70 Td (and ) Tj ET Q q 0 0 0 rg BT 137.09 471.70 Td (hedge ) Tj ET Q q 0 0 0 rg BT 164.90 471.70 Td (accounting ) Tj ET Q q 0 0 0 rg BT 211.22 471.70 Td (phases ) Tj ET Q q 0 0 0 rg BT 243.02 471.70 Td (of ) Tj ET Q q 0 0 0 rg BT 253.31 471.70 Td (the ) Tj ET Q q 0 0 0 rg BT 268.60 471.70 Td (IASB's ) Tj ET Q q 0 0 0 rg BT 298.12 471.70 Td (project ) Tj ET Q q 0 0 0 rg BT 327.91 471.70 Td (to ) Tj ET Q q 0 0 0 rg BT 338.20 471.70 Td (replace ) Tj ET Q q 0 0 0 rg BT 370.50 471.70 Td (IAS ) Tj ET Q q 0 0 0 rg BT 387.79 471.70 Td (39, ) Tj ET Q q 0 0 0 rg BT 403.08 471.70 Td (Financial ) Tj ET Q q 0 0 0 rg BT 444.88 471.70 Td (Instruments: ) Tj ET Q q 0 0 0 rg BT 497.18 471.70 Td (Recognition ) Tj ET Q q 0 0 0 rg BT 547.50 471.70 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 458.20 Td (Measurement. ) Tj ET Q q 0 0 0 rg BT 135.48 458.20 Td (The ) Tj ET Q q 0 0 0 rg BT 154.15 458.20 Td (standard ) Tj ET Q q 0 0 0 rg BT 192.34 458.20 Td (supersedes ) Tj ET Q q 0 0 0 rg BT 242.04 458.20 Td (all ) Tj ET Q q 0 0 0 rg BT 254.21 458.20 Td (previous ) Tj ET Q q 0 0 0 rg BT 291.39 458.20 Td (versions ) Tj ET Q q 0 0 0 rg BT 328.06 458.20 Td (of ) Tj ET Q q 0 0 0 rg BT 338.74 458.20 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 362.40 458.20 Td (9 ) Tj ET Q q 0 0 0 rg BT 370.57 458.20 Td (and ) Tj ET Q q 0 0 0 rg BT 388.75 458.20 Td (will ) Tj ET Q q 0 0 0 rg BT 404.41 458.20 Td (be ) Tj ET Q q 0 0 0 rg BT 417.59 458.20 Td (ef) Tj ET Q q 0 0 0 rg BT 424.93 458.20 Td (fective ) Tj ET Q q 0 0 0 rg BT 454.11 458.20 Td (on ) Tj ET Q q 0 0 0 rg BT 467.28 458.20 Td (October ) Tj ET Q q 0 0 0 rg BT 502.46 458.20 Td (1, ) Tj ET Q q 0 0 0 rg BT 513.13 458.20 Td (2018 ) Tj ET Q q 0 0 0 rg BT 536.32 458.20 Td (for ) Tj ET Q q 0 0 0 rg BT 549.99 458.20 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 444.70 Td (Company) Tj ET Q q 0 0 0 rg BT 109.85 444.70 Td (, ) Tj ET Q q 0 0 0 rg BT 114.32 444.70 Td (with ) Tj ET Q q 0 0 0 rg BT 132.30 444.70 Td (earlier ) Tj ET Q q 0 0 0 rg BT 159.28 444.70 Td (adoption ) Tj ET Q q 0 0 0 rg BT 195.79 444.70 Td (permitted. ) Tj ET Q q 0 0 0 rg BT 237.65 444.70 Td (The ) Tj ET Q q 0 0 0 rg BT 255.13 444.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 295.62 444.70 Td (is ) Tj ET Q q 0 0 0 rg BT 304.10 444.70 Td (currently ) Tj ET Q q 0 0 0 rg BT 340.58 444.70 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 383.58 444.70 Td (the ) Tj ET Q q 0 0 0 rg BT 398.07 444.70 Td (impact ) Tj ET Q q 0 0 0 rg BT 426.55 444.70 Td (of ) Tj ET Q q 0 0 0 rg BT 436.03 444.70 Td (this ) Tj ET Q q 0 0 0 rg BT 452.01 444.70 Td (standard ) Tj ET Q q 0 0 0 rg BT 489.00 444.70 Td (on ) Tj ET Q q 0 0 0 rg BT 500.99 444.70 Td (its ) Tj ET Q q 0 0 0 rg BT 511.96 444.70 Td (consolidated ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 431.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 107.52 431.20 Td (statements.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 72.00 408.70 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 95.00 408.70 Td (16 ) Tj ET Q q 0 0 0 rg BT 107.51 408.70 Td (- ) Tj ET Q q 0 0 0 rg BT 113.01 408.70 Td (Leases ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 392.20 Td (In ) Tj ET Q q 0 0 0 rg BT 81.71 392.20 Td (January ) Tj ET Q q 0 0 0 rg BT 115.94 392.20 Td (2016, ) Tj ET Q q 0 0 0 rg BT 140.67 392.20 Td (the ) Tj ET Q q 0 0 0 rg BT 155.39 392.20 Td (IASB ) Tj ET Q q 0 0 0 rg BT 178.10 392.20 Td (issued ) Tj ET Q q 0 0 0 rg BT 206.33 392.20 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 229.04 392.20 Td (16, ) Tj ET Q q 0 0 0 rg BT 243.75 392.20 Td (Leases, ) Tj ET Q q 0 0 0 rg BT 283.48 392.20 Td (to ) Tj ET Q q 0 0 0 rg BT 293.19 392.20 Td (set ) Tj ET Q q 0 0 0 rg BT 307.40 392.20 Td (out ) Tj ET Q q 0 0 0 rg BT 322.12 392.20 Td (the ) Tj ET Q q 0 0 0 rg BT 336.84 392.20 Td (principles ) Tj ET Q q 0 0 0 rg BT 377.07 392.20 Td (for ) Tj ET Q q 0 0 0 rg BT 389.78 392.20 Td (the ) Tj ET Q q 0 0 0 rg BT 404.50 392.20 Td (recognition, ) Tj ET Q q 0 0 0 rg BT 453.23 392.20 Td (measurement, ) Tj ET Q q 0 0 0 rg BT 512.96 392.20 Td (presentation ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 378.70 Td (and ) Tj ET Q q 0 0 0 rg BT 90.12 378.70 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 133.75 378.70 Td (of ) Tj ET Q q 0 0 0 rg BT 144.36 378.70 Td (leases ) Tj ET Q q 0 0 0 rg BT 173.48 378.70 Td (for ) Tj ET Q q 0 0 0 rg BT 187.10 378.70 Td (both ) Tj ET Q q 0 0 0 rg BT 207.72 378.70 Td (parties ) Tj ET Q q 0 0 0 rg BT 237.84 378.70 Td (to ) Tj ET Q q 0 0 0 rg BT 248.45 378.70 Td (a ) Tj ET Q q 0 0 0 rg BT 256.57 378.70 Td (lease ) Tj ET Q q 0 0 0 rg BT 281.19 378.70 Td (contract. ) Tj ET Q q 0 0 0 rg BT 318.61 378.70 Td (The ) Tj ET Q q 0 0 0 rg BT 337.22 378.70 Td (standard ) Tj ET Q q 0 0 0 rg BT 375.36 378.70 Td (supersedes ) Tj ET Q q 0 0 0 rg BT 424.99 378.70 Td (IAS ) Tj ET Q q 0 0 0 rg BT 442.61 378.70 Td (17, ) Tj ET Q q 0 0 0 rg BT 458.23 378.70 Td ("Leases", ) Tj ET Q q 0 0 0 rg BT 499.24 378.70 Td (and ) Tj ET Q q 0 0 0 rg BT 517.37 378.70 Td (other ) Tj ET Q q 0 0 0 rg BT 540.99 378.70 Td (lease ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 365.20 Td (related ) Tj ET Q q 0 0 0 rg BT 101.52 365.20 Td (Interpretations. ) Tj ET Q q 0 0 0 rg BT 163.43 365.20 Td (The ) Tj ET Q q 0 0 0 rg BT 180.94 365.20 Td (standard ) Tj ET Q q 0 0 0 rg BT 217.96 365.20 Td (will ) Tj ET Q q 0 0 0 rg BT 232.46 365.20 Td (be ) Tj ET Q q 0 0 0 rg BT 244.48 365.20 Td (ef) Tj ET Q q 0 0 0 rg BT 251.82 365.20 Td (fective ) Tj ET Q q 0 0 0 rg BT 279.83 365.20 Td (on ) Tj ET Q q 0 0 0 rg BT 291.85 365.20 Td (October ) Tj ET Q q 0 0 0 rg BT 325.86 365.20 Td (1, ) Tj ET Q q 0 0 0 rg BT 335.37 365.20 Td (2019 ) Tj ET Q q 0 0 0 rg BT 357.40 365.20 Td (for ) Tj ET Q q 0 0 0 rg BT 369.90 365.20 Td (the ) Tj ET Q q 0 0 0 rg BT 384.42 365.20 Td (Company ) Tj ET Q q 0 0 0 rg BT 424.94 365.20 Td (with ) Tj ET Q q 0 0 0 rg BT 442.94 365.20 Td (earlier ) Tj ET Q q 0 0 0 rg BT 469.96 365.20 Td (adoption ) Tj ET Q q 0 0 0 rg BT 506.49 365.20 Td (permitted ) Tj ET Q q 0 0 0 rg BT 546.01 365.20 Td (only ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 351.70 Td (if ) Tj ET Q q 0 0 0 rg BT 78.95 351.70 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 101.89 351.70 Td (15 ) Tj ET Q q 0 0 0 rg BT 114.35 351.70 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 155.82 351.70 Td (from ) Tj ET Q q 0 0 0 rg BT 176.26 351.70 Td (Contracts ) Tj ET Q q 0 0 0 rg BT 217.22 351.70 Td (with ) Tj ET Q q 0 0 0 rg BT 235.67 351.70 Td (Customers ) Tj ET Q q 0 0 0 rg BT 284.62 351.70 Td (is ) Tj ET Q q 0 0 0 rg BT 293.57 351.70 Td (also ) Tj ET Q q 0 0 0 rg BT 312.52 351.70 Td (applied. ) Tj ET Q q 0 0 0 rg BT 346.34 351.70 Td (The ) Tj ET Q q 0 0 0 rg BT 364.29 351.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 405.25 351.70 Td (is ) Tj ET Q q 0 0 0 rg BT 414.20 351.70 Td (currently ) Tj ET Q q 0 0 0 rg BT 451.15 351.70 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 494.63 351.70 Td (the ) Tj ET Q q 0 0 0 rg BT 509.59 351.70 Td (impact ) Tj ET Q q 0 0 0 rg BT 538.54 351.70 Td (of ) Tj ET Q q 0 0 0 rg BT 548.49 351.70 Td (this ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 338.20 Td (standard ) Tj ET Q q 0 0 0 rg BT 109.52 338.20 Td (on ) Tj ET Q q 0 0 0 rg BT 122.04 338.20 Td (its ) Tj ET Q q 0 0 0 rg BT 133.54 338.20 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 186.57 338.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 222.10 338.20 Td (statements.) Tj ET Q endstream endobj 89 0 obj <> endobj 90 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (43) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 49.50 706.80 Td (8. ) Tj ET Q q 0 0 0 rg BT 72.00 706.80 Td (Critical ) Tj ET Q q 0 0 0 rg BT 115.57 706.80 Td (Accounting Estimates) Tj ET Q 0 0 0 RG /GS0 gs 1.50 w 0 i [] 0 d 0 J 0 j 3 M 57.5 694.3 m 57.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 690.3 m 57.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 57.5 690.3 m 142.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 142.5 690.3 m 228.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 228.5 690.3 m 337.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 690.3 m 475.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 690.3 m 561.5 690.3 l s 0 0 0 RG /GS0 gs 1.50 w 0 i [] 0 d 0 J 0 j 3 M 57.5 690.3 m 57.5 686.3 l s BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 662.50 Td (The ) Tj ET Q q 0 0 0 rg BT 89.56 662.50 Td (Company) Tj ET Q q 0 0 0 rg BT 129.92 662.50 Td (s ) Tj ET Q q 0 0 0 rg BT 136.47 662.50 Td (significant ) Tj ET Q q 0 0 0 rg BT 178.54 662.50 Td (accounting ) Tj ET Q q 0 0 0 rg BT 224.13 662.50 Td (policies ) Tj ET Q q 0 0 0 rg BT 256.19 662.50 Td (are ) Tj ET Q q 0 0 0 rg BT 271.25 662.50 Td (described ) Tj ET Q q 0 0 0 rg BT 312.33 662.50 Td (in ) Tj ET Q q 0 0 0 rg BT 321.39 662.50 Td (note ) Tj ET Q q 0 0 0 rg BT 340.95 662.50 Td (3 ) Tj ET Q q 0 0 0 rg BT 348.01 662.50 Td (of ) Tj ET Q q 0 0 0 rg BT 357.57 662.50 Td (the ) Tj ET Q q 0 0 0 rg BT 372.13 662.50 Td (audited ) Tj ET Q q 0 0 0 rg BT 403.71 662.50 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 456.30 662.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 491.37 662.50 Td (statements ) Tj ET Q q 0 0 0 rg BT 537.45 662.50 Td (for ) Tj ET Q q 0 0 0 rg BT 550.00 662.50 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 649.00 Td (year ) Tj ET Q q 0 0 0 rg BT 91.62 649.00 Td (ended ) Tj ET Q q 0 0 0 rg BT 118.76 649.00 Td (September30, ) Tj ET Q q 0 0 0 rg BT 179.91 649.00 Td (2016. ) Tj ET Q q 0 0 0 rg BT 204.55 649.00 Td (Certain ) Tj ET Q q 0 0 0 rg BT 235.67 649.00 Td (of ) Tj ET Q q 0 0 0 rg BT 245.29 649.00 Td (these ) Tj ET Q q 0 0 0 rg BT 269.42 649.00 Td (accounting ) Tj ET Q q 0 0 0 rg BT 315.07 649.00 Td (policies, ) Tj ET Q q 0 0 0 rg BT 349.69 649.00 Td (listed ) Tj ET Q q 0 0 0 rg BT 372.82 649.00 Td (below) Tj ET Q q 0 0 0 rg BT 395.84 649.00 Td (, ) Tj ET Q q 0 0 0 rg BT 400.45 649.00 Td (require ) Tj ET Q q 0 0 0 rg BT 430.58 649.00 Td (management ) Tj ET Q q 0 0 0 rg BT 485.22 649.00 Td (to ) Tj ET Q q 0 0 0 rg BT 494.84 649.00 Td (make ) Tj ET Q q 0 0 0 rg BT 518.96 649.00 Td (accounting ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 635.50 Td (estimates ) Tj ET Q q 0 0 0 rg BT 113.19 635.50 Td (and ) Tj ET Q q 0 0 0 rg BT 130.89 635.50 Td (judgment ) Tj ET Q q 0 0 0 rg BT 170.60 635.50 Td (that ) Tj ET Q q 0 0 0 rg BT 188.29 635.50 Td (af) Tj ET Q q 0 0 0 rg BT 195.63 635.50 Td (fect ) Tj ET Q q 0 0 0 rg BT 212.82 635.50 Td (the ) Tj ET Q q 0 0 0 rg BT 228.01 635.50 Td (reported ) Tj ET Q q 0 0 0 rg BT 264.22 635.50 Td (amounts ) Tj ET Q q 0 0 0 rg BT 301.42 635.50 Td (of ) Tj ET Q q 0 0 0 rg BT 311.60 635.50 Td (assets, ) Tj ET Q q 0 0 0 rg BT 342.80 635.50 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 379.49 635.50 Td (and ) Tj ET Q q 0 0 0 rg BT 397.19 635.50 Td (equity ) Tj ET Q q 0 0 0 rg BT 423.89 635.50 Td (and ) Tj ET Q q 0 0 0 rg BT 441.58 635.50 Td (the ) Tj ET Q q 0 0 0 rg BT 456.77 635.50 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 517.49 635.50 Td (disclosures ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 622.00 Td (at ) Tj ET Q q 0 0 0 rg BT 82.62 622.00 Td (the ) Tj ET Q q 0 0 0 rg BT 98.25 622.00 Td (date ) Tj ET Q q 0 0 0 rg BT 118.88 622.00 Td (of ) Tj ET Q q 0 0 0 rg BT 129.50 622.00 Td (the ) Tj ET Q q 0 0 0 rg BT 145.13 622.00 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 198.78 622.00 Td (financial ) Tj ET Q q 0 0 0 rg BT 234.92 622.00 Td (statements ) Tj ET Q q 0 0 0 rg BT 282.05 622.00 Td (as ) Tj ET Q q 0 0 0 rg BT 294.68 622.00 Td (well ) Tj ET Q q 0 0 0 rg BT 313.29 622.00 Td (as ) Tj ET Q q 0 0 0 rg BT 325.92 622.00 Td (the ) Tj ET Q q 0 0 0 rg BT 341.54 622.00 Td (reported ) Tj ET Q q 0 0 0 rg BT 378.18 622.00 Td (amounts ) Tj ET Q q 0 0 0 rg BT 415.81 622.00 Td (of ) Tj ET Q q 0 0 0 rg BT 426.44 622.00 Td (revenue ) Tj ET Q q 0 0 0 rg BT 462.08 622.00 Td (and ) Tj ET Q q 0 0 0 rg BT 480.21 622.00 Td (expenses ) Tj ET Q q 0 0 0 rg BT 521.85 622.00 Td (during ) Tj ET Q q 0 0 0 rg BT 549.98 622.00 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 608.50 Td (reporting ) Tj ET Q q 0 0 0 rg BT 110.16 608.50 Td (period. ) Tj ET Q q 0 0 0 rg BT 140.14 608.50 Td (These ) Tj ET Q q 0 0 0 rg BT 167.79 608.50 Td (accounting ) Tj ET Q q 0 0 0 rg BT 213.96 608.50 Td (estimates ) Tj ET Q q 0 0 0 rg BT 255.11 608.50 Td (are ) Tj ET Q q 0 0 0 rg BT 270.76 608.50 Td (considered ) Tj ET Q q 0 0 0 rg BT 317.42 608.50 Td (critical ) Tj ET Q q 0 0 0 rg BT 345.56 608.50 Td (because ) Tj ET Q q 0 0 0 rg BT 382.23 608.50 Td (they ) Tj ET Q q 0 0 0 rg BT 401.88 608.50 Td (require ) Tj ET Q q 0 0 0 rg BT 432.53 608.50 Td (management ) Tj ET Q q 0 0 0 rg BT 487.70 608.50 Td (to ) Tj ET Q q 0 0 0 rg BT 497.84 608.50 Td (make ) Tj ET Q q 0 0 0 rg BT 522.49 608.50 Td (subjective ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 595.00 Td (and/or ) Tj ET Q q 0 0 0 rg BT 100.06 595.00 Td (complex ) Tj ET Q q 0 0 0 rg BT 136.12 595.00 Td (judgments ) Tj ET Q q 0 0 0 rg BT 180.18 595.00 Td (that ) Tj ET Q q 0 0 0 rg BT 197.74 595.00 Td (are ) Tj ET Q q 0 0 0 rg BT 213.29 595.00 Td (inherently ) Tj ET Q q 0 0 0 rg BT 254.85 595.00 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 294.42 595.00 Td (and ) Tj ET Q q 0 0 0 rg BT 311.97 595.00 Td (because ) Tj ET Q q 0 0 0 rg BT 348.54 595.00 Td (they ) Tj ET Q q 0 0 0 rg BT 368.10 595.00 Td (could ) Tj ET Q q 0 0 0 rg BT 392.15 595.00 Td (have ) Tj ET Q q 0 0 0 rg BT 414.21 595.00 Td (a ) Tj ET Q q 0 0 0 rg BT 421.76 595.00 Td (material ) Tj ET Q q 0 0 0 rg BT 456.31 595.00 Td (impact ) Tj ET Q q 0 0 0 rg BT 485.36 595.00 Td (on ) Tj ET Q q 0 0 0 rg BT 497.91 595.00 Td (the ) Tj ET Q q 0 0 0 rg BT 512.97 595.00 Td (presentation ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 581.50 Td (of ) Tj ET Q q 0 0 0 rg BT 82.01 581.50 Td (our ) Tj ET Q q 0 0 0 rg BT 97.51 581.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 133.04 581.50 Td (condition, ) Tj ET Q q 0 0 0 rg BT 174.06 581.50 Td (changes ) Tj ET Q q 0 0 0 rg BT 210.59 581.50 Td (in ) Tj ET Q q 0 0 0 rg BT 220.10 581.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 255.62 581.50 Td (condition ) Tj ET Q q 0 0 0 rg BT 294.14 581.50 Td (or ) Tj ET Q q 0 0 0 rg BT 304.65 581.50 Td (results ) Tj ET Q q 0 0 0 rg BT 333.65 581.50 Td (of ) Tj ET Q q 0 0 0 rg BT 343.66 581.50 Td (operations.) Tj ET Q 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 72.50 571.00 206.00 -27.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 278.50 571.00 71.00 -27.00 re f /GS0 gs 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 349.50 571.00 213.00 -27.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 72.50 544.00 206.00 -28.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 278.50 544.00 71.00 -28.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 349.50 544.00 71.00 -28.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 420.50 544.00 71.00 -28.00 re f /GS0 gs 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 491.50 544.00 71.00 -28.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 278.50 516.00 71.00 -20.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 420.50 516.00 71.00 -20.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 278.50 496.00 71.00 -20.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 420.50 496.00 71.00 -20.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 278.50 476.00 71.00 -20.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 420.50 476.00 71.00 -20.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 278.50 456.00 71.00 -20.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 420.50 456.00 71.00 -20.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 278.50 436.00 71.00 -20.00 re f /GS0 gs 0.6313725490196078 0.7686274509803922 0.8156862745098039 rg /GS0 gs 420.50 436.00 71.00 -20.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 571 m 278.5 571 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 278.5 571 m 349.5 571 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 349.5 571 m 420.5 571 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 571 m 491.5 571 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491.5 571 m 562.5 571 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 72.5 516 m 278.5 516 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 72.5 496 m 278.5 496 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 278.5 516 m 349.5 516 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 278.5 496 m 349.5 496 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 349.5 516 m 420.5 516 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 349.5 496 m 420.5 496 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 420.5 516 m 491.5 516 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 420.5 496 m 491.5 496 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 491.5 516 m 562.5 516 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 491.5 496 m 562.5 496 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 72.5 496 m 278.5 496 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 72.5 476 m 278.5 476 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 278.5 496 m 349.5 496 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 278.5 476 m 349.5 476 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 349.5 496 m 420.5 496 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 349.5 476 m 420.5 476 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 420.5 496 m 491.5 496 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 420.5 476 m 491.5 476 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 491.5 496 m 562.5 496 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 491.5 476 m 562.5 476 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 72.5 476 m 278.5 476 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 72.5 456 m 278.5 456 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 278.5 476 m 349.5 476 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 278.5 456 m 349.5 456 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 349.5 476 m 420.5 476 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 349.5 456 m 420.5 456 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 420.5 476 m 491.5 476 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 420.5 456 m 491.5 456 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 491.5 476 m 562.5 476 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 491.5 456 m 562.5 456 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 72.5 456 m 278.5 456 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 72.5 436 m 278.5 436 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 278.5 456 m 349.5 456 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 278.5 436 m 349.5 436 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 349.5 456 m 420.5 456 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 349.5 436 m 420.5 436 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 420.5 456 m 491.5 456 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 420.5 436 m 491.5 436 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 491.5 456 m 562.5 456 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491.5 436 m 562.5 436 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 72.5 436 m 278.5 436 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 72.5 416 m 278.5 416 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 278.5 436 m 349.5 436 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 278.5 416 m 349.5 416 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 349.5 436 m 420.5 436 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 349.5 416 m 420.5 416 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 420.5 436 m 491.5 436 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 420.5 416 m 491.5 416 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 491.5 436 m 562.5 436 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 491.5 416 m 562.5 416 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 75.00 555.48 Td (Areas impacted by estimates) Tj ET Q BT /F2 8.00 Tf ET 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 288.15 565.30 50.67 -7.51 re f /GS0 gs q 1 1 1 rg BT 288.15 559.48 Td (Consolidated) Tj ET Q BT /F2 8.00 Tf ET 0.6 0.12156862745098039 0.23921568627450981 rg /GS0 gs 284.80 557.30 57.36 -7.51 re f /GS0 gs q 1 1 1 rg BT 284.80 551.48 Td (balance sheets) Tj ET Q BT /F2 8.00 Tf ET q 1 1 1 rg BT 385.25 555.48 Td (Consolidated statements of earnings) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 367.80 527.98 Td (Revenue) Tj ET Q BT /F2 8.00 Tf ET 0.6470588235294118 0.6745098039215687 0.7411764705882353 rg /GS0 gs 423.45 541.50 64.03 -7.51 re f /GS0 gs q 0 0 0 rg BT 423.45 535.68 Td (Cost of services,) Tj ET Q BT /F2 8.00 Tf ET 0.6470588235294118 0.6745098039215687 0.7411764705882353 rg /GS0 gs 434.60 533.50 41.79 -7.51 re f /GS0 gs q 0 0 0 rg BT 434.60 527.68 Td (selling and) Tj ET Q BT /F2 8.00 Tf ET 0.6470588235294118 0.6745098039215687 0.7411764705882353 rg /GS0 gs 428.35 525.50 54.24 -7.51 re f /GS0 gs q 0 0 0 rg BT 428.35 519.68 Td (administrative) Tj ET Q BT /F2 8.00 Tf ET 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 512.45 537.80 28.01 -7.51 re f /GS0 gs q 0 0 0 rg BT 512.45 531.98 Td (Income) Tj ET Q BT /F2 8.00 Tf ET 0.6470588235294118 0.6745098039215687 0.6901960784313725 rg /GS0 gs 516.25 529.80 20.46 -7.51 re f /GS0 gs q 0 0 0 rg BT 516.25 523.98 Td (taxes) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 503.98 Td (Revenue recognition ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 150.61 507.79 Td (1) Tj ET Q /GS0 gs q 7.86 0 0 10.76 309.55 503.74 cm /I10 Do Q /GS0 gs q 7.86 0 0 10.76 380.55 503.74 cm /I11 Do Q /GS0 gs q 7.86 0 0 10.76 451.55 503.74 cm /I12 Do Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 483.98 Td (Estimated losses on revenue-generating contracts) Tj ET Q /GS0 gs q 7.86 0 0 10.76 309.55 483.74 cm /I13 Do Q /GS0 gs q 7.86 0 0 10.76 451.55 483.74 cm /I14 Do Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 463.98 Td (Goodwill impairment) Tj ET Q /GS0 gs q 7.86 0 0 10.76 309.55 463.74 cm /I15 Do Q /GS0 gs q 7.86 0 0 10.76 451.55 463.74 cm /I16 Do Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 443.98 Td (Income taxes) Tj ET Q /GS0 gs q 7.86 0 0 10.76 309.55 443.74 cm /I17 Do Q /GS0 gs q 7.86 0 0 10.76 522.55 443.74 cm /I18 Do Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 75.00 423.98 Td (Litigation and claims) Tj ET Q /GS0 gs q 7.86 0 0 10.76 309.55 423.74 cm /I19 Do Q /GS0 gs q 7.86 0 0 10.76 380.55 423.74 cm /I20 Do Q /GS0 gs q 7.86 0 0 10.76 451.55 423.74 cm /I21 Do Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 72.00 405.44 Td (1 ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 94.50 402.10 Td (Af) Tj ET Q q 0 0 0 rg BT 100.99 402.10 Td (fects the balance sheet through accounts receivable, work in progress and deferred revenue.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 381.016796875 m 156.0556640625 381.016796875 l s q 0 0 0 rg BT 73.50 382.30 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 112.03 382.30 Td (recognition) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 72.00 362.50 Td (Multiple ) Tj ET Q q 0 0 0 rg BT 105.51 362.50 Td (component ) Tj ET Q q 0 0 0 rg BT 152.54 362.50 Td (arrangements) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 346.00 Td (If ) Tj ET Q q 0 0 0 rg BT 78.90 346.00 Td (an ) Tj ET Q q 0 0 0 rg BT 91.30 346.00 Td (arrangement ) Tj ET Q q 0 0 0 rg BT 144.73 346.00 Td (involves ) Tj ET Q q 0 0 0 rg BT 179.64 346.00 Td (the ) Tj ET Q q 0 0 0 rg BT 194.54 346.00 Td (provision ) Tj ET Q q 0 0 0 rg BT 232.96 346.00 Td (of ) Tj ET Q q 0 0 0 rg BT 242.86 346.00 Td (multiple ) Tj ET Q q 0 0 0 rg BT 276.27 346.00 Td (components, ) Tj ET Q q 0 0 0 rg BT 330.19 346.00 Td (the ) Tj ET Q q 0 0 0 rg BT 345.10 346.00 Td (total ) Tj ET Q q 0 0 0 rg BT 364.51 346.00 Td (arrangement ) Tj ET Q q 0 0 0 rg BT 417.93 346.00 Td (value ) Tj ET Q q 0 0 0 rg BT 441.84 346.00 Td (is ) Tj ET Q q 0 0 0 rg BT 450.74 346.00 Td (allocated ) Tj ET Q q 0 0 0 rg BT 489.16 346.00 Td (to ) Tj ET Q q 0 0 0 rg BT 499.06 346.00 Td (each ) Tj ET Q q 0 0 0 rg BT 520.97 346.00 Td (separately ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 332.50 Td (identifiable ) Tj ET Q q 0 0 0 rg BT 116.18 332.50 Td (component ) Tj ET Q q 0 0 0 rg BT 162.35 332.50 Td (based ) Tj ET Q q 0 0 0 rg BT 188.52 332.50 Td (on ) Tj ET Q q 0 0 0 rg BT 200.18 332.50 Td (its ) Tj ET Q q 0 0 0 rg BT 210.82 332.50 Td (relative ) Tj ET Q q 0 0 0 rg BT 241.48 332.50 Td (selling ) Tj ET Q q 0 0 0 rg BT 268.64 332.50 Td (price ) Tj ET Q q 0 0 0 rg BT 289.80 332.50 Td (at ) Tj ET Q q 0 0 0 rg BT 298.95 332.50 Td (the ) Tj ET Q q 0 0 0 rg BT 313.10 332.50 Td (inception ) Tj ET Q q 0 0 0 rg BT 350.78 332.50 Td (of ) Tj ET Q q 0 0 0 rg BT 359.93 332.50 Td (the ) Tj ET Q q 0 0 0 rg BT 374.09 332.50 Td (contract. ) Tj ET Q q 0 0 0 rg BT 409.92 332.50 Td (At ) Tj ET Q q 0 0 0 rg BT 420.07 332.50 Td (least ) Tj ET Q q 0 0 0 rg BT 440.73 332.50 Td (on ) Tj ET Q q 0 0 0 rg BT 452.38 332.50 Td (a ) Tj ET Q q 0 0 0 rg BT 459.03 332.50 Td (yearly ) Tj ET Q q 0 0 0 rg BT 484.69 332.50 Td (basis, ) Tj ET Q q 0 0 0 rg BT 509.84 332.50 Td (the ) Tj ET Q q 0 0 0 rg BT 524.00 332.50 Td (Company ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 319.00 Td (reviews ) Tj ET Q q 0 0 0 rg BT 103.92 319.00 Td (its ) Tj ET Q q 0 0 0 rg BT 114.84 319.00 Td (best ) Tj ET Q q 0 0 0 rg BT 133.77 319.00 Td (estimate ) Tj ET Q q 0 0 0 rg BT 169.70 319.00 Td (of ) Tj ET Q q 0 0 0 rg BT 179.13 319.00 Td (the ) Tj ET Q q 0 0 0 rg BT 193.56 319.00 Td (selling ) Tj ET Q q 0 0 0 rg BT 220.99 319.00 Td (price ) Tj ET Q q 0 0 0 rg BT 242.41 319.00 Td (which ) Tj ET Q q 0 0 0 rg BT 267.34 319.00 Td (is ) Tj ET Q q 0 0 0 rg BT 275.76 319.00 Td (established ) Tj ET Q q 0 0 0 rg BT 323.21 319.00 Td (by ) Tj ET Q q 0 0 0 rg BT 334.63 319.00 Td (using ) Tj ET Q q 0 0 0 rg BT 358.07 319.00 Td (a ) Tj ET Q q 0 0 0 rg BT 364.99 319.00 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 411.44 319.00 Td (range ) Tj ET Q q 0 0 0 rg BT 436.38 319.00 Td (of ) Tj ET Q q 0 0 0 rg BT 445.80 319.00 Td (prices ) Tj ET Q q 0 0 0 rg BT 471.73 319.00 Td (for ) Tj ET Q q 0 0 0 rg BT 484.15 319.00 Td (the ) Tj ET Q q 0 0 0 rg BT 498.58 319.00 Td (various ) Tj ET Q q 0 0 0 rg BT 529.51 319.00 Td (services ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 305.50 Td (and ) Tj ET Q q 0 0 0 rg BT 88.63 305.50 Td (products ) Tj ET Q q 0 0 0 rg BT 125.26 305.50 Td (of) Tj ET Q q 0 0 0 rg BT 132.60 305.50 Td (fered ) Tj ET Q q 0 0 0 rg BT 155.22 305.50 Td (by ) Tj ET Q q 0 0 0 rg BT 166.84 305.50 Td (the ) Tj ET Q q 0 0 0 rg BT 181.46 305.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 222.09 305.50 Td (based ) Tj ET Q q 0 0 0 rg BT 248.72 305.50 Td (on ) Tj ET Q q 0 0 0 rg BT 260.85 305.50 Td (local ) Tj ET Q q 0 0 0 rg BT 281.47 305.50 Td (market ) Tj ET Q q 0 0 0 rg BT 311.08 305.50 Td (information ) Tj ET Q q 0 0 0 rg BT 357.71 305.50 Td (available. ) Tj ET Q q 0 0 0 rg BT 397.85 305.50 Td (Information ) Tj ET Q q 0 0 0 rg BT 444.98 305.50 Td (used ) Tj ET Q q 0 0 0 rg BT 466.61 305.50 Td (in ) Tj ET Q q 0 0 0 rg BT 475.73 305.50 Td (determining ) Tj ET Q q 0 0 0 rg BT 524.86 305.50 Td (the ) Tj ET Q q 0 0 0 rg BT 539.49 305.50 Td (range ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 292.00 Td (is ) Tj ET Q q 0 0 0 rg BT 79.80 292.00 Td (mainly ) Tj ET Q q 0 0 0 rg BT 107.62 292.00 Td (based ) Tj ET Q q 0 0 0 rg BT 133.94 292.00 Td (on ) Tj ET Q q 0 0 0 rg BT 145.76 292.00 Td (recent ) Tj ET Q q 0 0 0 rg BT 172.58 292.00 Td (contracts ) Tj ET Q q 0 0 0 rg BT 210.89 292.00 Td (signed ) Tj ET Q q 0 0 0 rg BT 239.22 292.00 Td (and ) Tj ET Q q 0 0 0 rg BT 256.04 292.00 Td (the ) Tj ET Q q 0 0 0 rg BT 270.36 292.00 Td (economic ) Tj ET Q q 0 0 0 rg BT 310.68 292.00 Td (environment. ) Tj ET Q q 0 0 0 rg BT 364.15 292.00 Td (A) Tj ET Q q 0 0 0 rg BT 369.66 292.00 Td ( ) Tj ET Q q 0 0 0 rg BT 371.46 292.00 Td (change ) Tj ET Q q 0 0 0 rg BT 402.80 292.00 Td (in ) Tj ET Q q 0 0 0 rg BT 411.60 292.00 Td (the ) Tj ET Q q 0 0 0 rg BT 425.92 292.00 Td (range ) Tj ET Q q 0 0 0 rg BT 450.74 292.00 Td (could ) Tj ET Q q 0 0 0 rg BT 474.06 292.00 Td (have ) Tj ET Q q 0 0 0 rg BT 495.39 292.00 Td (a ) Tj ET Q q 0 0 0 rg BT 502.20 292.00 Td (material ) Tj ET Q q 0 0 0 rg BT 536.01 292.00 Td (impact ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 278.50 Td (on ) Tj ET Q q 0 0 0 rg BT 84.01 278.50 Td (the ) Tj ET Q q 0 0 0 rg BT 99.02 278.50 Td (allocation ) Tj ET Q q 0 0 0 rg BT 139.55 278.50 Td (of ) Tj ET Q q 0 0 0 rg BT 149.56 278.50 Td (total ) Tj ET Q q 0 0 0 rg BT 169.07 278.50 Td (arrangement ) Tj ET Q q 0 0 0 rg BT 222.60 278.50 Td (value, ) Tj ET Q q 0 0 0 rg BT 249.11 278.50 Td (and ) Tj ET Q q 0 0 0 rg BT 266.63 278.50 Td (therefore ) Tj ET Q q 0 0 0 rg BT 305.15 278.50 Td (on ) Tj ET Q q 0 0 0 rg BT 317.66 278.50 Td (the ) Tj ET Q q 0 0 0 rg BT 332.68 278.50 Td (amount ) Tj ET Q q 0 0 0 rg BT 365.20 278.50 Td (and ) Tj ET Q q 0 0 0 rg BT 382.71 278.50 Td (timing ) Tj ET Q q 0 0 0 rg BT 409.22 278.50 Td (of ) Tj ET Q q 0 0 0 rg BT 419.23 278.50 Td (revenue ) Tj ET Q q 0 0 0 rg BT 454.25 278.50 Td (recognition.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 71.50 253.85 Td (System ) Tj ET Q q 0 0 0 rg BT 104.01 253.85 Td (integration ) Tj ET Q q 0 0 0 rg BT 148.54 253.85 Td (and ) Tj ET Q q 0 0 0 rg BT 166.05 253.85 Td (consulting ) Tj ET Q q 0 0 0 rg BT 209.08 253.85 Td (services ) Tj ET Q q 0 0 0 rg BT 244.59 253.85 Td (under ) Tj ET Q q 0 0 0 rg BT 270.11 253.85 Td (fixed-fee ) Tj ET Q q 0 0 0 rg BT 307.13 253.85 Td (arrangements) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 234.35 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 112.44 234.35 Td (from ) Tj ET Q q 0 0 0 rg BT 135.35 234.35 Td (systems ) Tj ET Q q 0 0 0 rg BT 173.26 234.35 Td (integration ) Tj ET Q q 0 0 0 rg BT 220.21 234.35 Td (and ) Tj ET Q q 0 0 0 rg BT 240.13 234.35 Td (consulting ) Tj ET Q q 0 0 0 rg BT 285.57 234.35 Td (services ) Tj ET Q q 0 0 0 rg BT 323.49 234.35 Td (under ) Tj ET Q q 0 0 0 rg BT 351.42 234.35 Td (fixed-fee ) Tj ET Q q 0 0 0 rg BT 390.85 234.35 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 451.29 234.35 Td (where ) Tj ET Q q 0 0 0 rg BT 480.72 234.35 Td (the ) Tj ET Q q 0 0 0 rg BT 498.14 234.35 Td (outcome ) Tj ET Q q 0 0 0 rg BT 537.57 234.35 Td (of ) Tj ET Q q 0 0 0 rg BT 549.99 234.35 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 220.85 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 129.62 220.85 Td (can ) Tj ET Q q 0 0 0 rg BT 146.72 220.85 Td (be ) Tj ET Q q 0 0 0 rg BT 159.32 220.85 Td (estimated ) Tj ET Q q 0 0 0 rg BT 200.92 220.85 Td (reliably ) Tj ET Q q 0 0 0 rg BT 232.02 220.85 Td (is ) Tj ET Q q 0 0 0 rg BT 241.11 220.85 Td (recognized ) Tj ET Q q 0 0 0 rg BT 287.73 220.85 Td (using ) Tj ET Q q 0 0 0 rg BT 311.83 220.85 Td (the ) Tj ET Q q 0 0 0 rg BT 326.93 220.85 Td (percentage-of-completion ) Tj ET Q q 0 0 0 rg BT 431.58 220.85 Td (method ) Tj ET Q q 0 0 0 rg BT 464.19 220.85 Td (over ) Tj ET Q q 0 0 0 rg BT 484.28 220.85 Td (the ) Tj ET Q q 0 0 0 rg BT 499.38 220.85 Td (service ) Tj ET Q q 0 0 0 rg BT 530.48 220.85 Td (periods. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 207.35 Td (The ) Tj ET Q q 0 0 0 rg BT 89.93 207.35 Td (Company ) Tj ET Q q 0 0 0 rg BT 131.38 207.35 Td (primarily ) Tj ET Q q 0 0 0 rg BT 168.30 207.35 Td (uses ) Tj ET Q q 0 0 0 rg BT 190.23 207.35 Td (labour ) Tj ET Q q 0 0 0 rg BT 218.18 207.35 Td (costs ) Tj ET Q q 0 0 0 rg BT 242.11 207.35 Td (or ) Tj ET Q q 0 0 0 rg BT 253.03 207.35 Td (labour ) Tj ET Q q 0 0 0 rg BT 280.98 207.35 Td (hours ) Tj ET Q q 0 0 0 rg BT 306.41 207.35 Td (to ) Tj ET Q q 0 0 0 rg BT 316.84 207.35 Td (measure ) Tj ET Q q 0 0 0 rg BT 354.78 207.35 Td (the ) Tj ET Q q 0 0 0 rg BT 370.22 207.35 Td (progress ) Tj ET Q q 0 0 0 rg BT 408.16 207.35 Td (towards ) Tj ET Q q 0 0 0 rg BT 442.60 207.35 Td (completion. ) Tj ET Q q 0 0 0 rg BT 491.55 207.35 Td (Project ) Tj ET Q q 0 0 0 rg BT 522.48 207.35 Td (managers ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 193.85 Td (monitor ) Tj ET Q q 0 0 0 rg BT 104.17 193.85 Td (and ) Tj ET Q q 0 0 0 rg BT 121.85 193.85 Td (re-evaluate ) Tj ET Q q 0 0 0 rg BT 169.54 193.85 Td (project ) Tj ET Q q 0 0 0 rg BT 199.22 193.85 Td (forecasts ) Tj ET Q q 0 0 0 rg BT 238.40 193.85 Td (on ) Tj ET Q q 0 0 0 rg BT 251.07 193.85 Td (a ) Tj ET Q q 0 0 0 rg BT 258.74 193.85 Td (monthly ) Tj ET Q q 0 0 0 rg BT 292.91 193.85 Td (basis. ) Tj ET Q q 0 0 0 rg BT 319.09 193.85 Td (Forecasts ) Tj ET Q q 0 0 0 rg BT 361.26 193.85 Td (are ) Tj ET Q q 0 0 0 rg BT 376.93 193.85 Td (reviewed ) Tj ET Q q 0 0 0 rg BT 415.61 193.85 Td (to ) Tj ET Q q 0 0 0 rg BT 425.78 193.85 Td (consider ) Tj ET Q q 0 0 0 rg BT 462.46 193.85 Td (factors ) Tj ET Q q 0 0 0 rg BT 492.14 193.85 Td (such ) Tj ET Q q 0 0 0 rg BT 513.81 193.85 Td (as: ) Tj ET Q q 0 0 0 rg BT 528.48 193.85 Td (changes ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 180.35 Td (to ) Tj ET Q q 0 0 0 rg BT 81.69 180.35 Td (the ) Tj ET Q q 0 0 0 rg BT 96.88 180.35 Td (scope ) Tj ET Q q 0 0 0 rg BT 123.57 180.35 Td (of ) Tj ET Q q 0 0 0 rg BT 133.76 180.35 Td (the ) Tj ET Q q 0 0 0 rg BT 148.95 180.35 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 190.65 180.35 Td (delays ) Tj ET Q q 0 0 0 rg BT 219.34 180.35 Td (in ) Tj ET Q q 0 0 0 rg BT 229.03 180.35 Td (reaching ) Tj ET Q q 0 0 0 rg BT 266.23 180.35 Td (milestones ) Tj ET Q q 0 0 0 rg BT 311.93 180.35 Td (and ) Tj ET Q q 0 0 0 rg BT 329.63 180.35 Td (new ) Tj ET Q q 0 0 0 rg BT 348.82 180.35 Td (complexities ) Tj ET Q q 0 0 0 rg BT 401.01 180.35 Td (in ) Tj ET Q q 0 0 0 rg BT 410.70 180.35 Td (the ) Tj ET Q q 0 0 0 rg BT 425.89 180.35 Td (project ) Tj ET Q q 0 0 0 rg BT 455.58 180.35 Td (delivery) Tj ET Q q 0 0 0 rg BT 485.93 180.35 Td (. ) Tj ET Q q 0 0 0 rg BT 491.11 180.35 Td (Forecast ) Tj ET Q q 0 0 0 rg BT 528.80 180.35 Td (can ) Tj ET Q q 0 0 0 rg BT 545.99 180.35 Td (also ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 166.85 Td (be ) Tj ET Q q 0 0 0 rg BT 85.62 166.85 Td (af) Tj ET Q q 0 0 0 rg BT 92.96 166.85 Td (fected ) Tj ET Q q 0 0 0 rg BT 121.59 166.85 Td (by ) Tj ET Q q 0 0 0 rg BT 135.20 166.85 Td (market ) Tj ET Q q 0 0 0 rg BT 166.82 166.85 Td (risks ) Tj ET Q q 0 0 0 rg BT 189.43 166.85 Td (such ) Tj ET Q q 0 0 0 rg BT 212.55 166.85 Td (as ) Tj ET Q q 0 0 0 rg BT 226.16 166.85 Td (the ) Tj ET Q q 0 0 0 rg BT 242.78 166.85 Td (availability ) Tj ET Q q 0 0 0 rg BT 288.41 166.85 Td (and ) Tj ET Q q 0 0 0 rg BT 307.54 166.85 Td (retention ) Tj ET Q q 0 0 0 rg BT 346.67 166.85 Td (of ) Tj ET Q q 0 0 0 rg BT 358.28 166.85 Td (qualified ) Tj ET Q q 0 0 0 rg BT 395.92 166.85 Td (IT) Tj ET Q q 0 0 0 rg BT 403.75 166.85 Td ( ) Tj ET Q q 0 0 0 rg BT 407.86 166.85 Td (professionals ) Tj ET Q q 0 0 0 rg BT 465.00 166.85 Td (and/or ) Tj ET Q q 0 0 0 rg BT 494.63 166.85 Td (the ) Tj ET Q q 0 0 0 rg BT 511.25 166.85 Td (ability ) Tj ET Q q 0 0 0 rg BT 538.37 166.85 Td (of ) Tj ET Q q 0 0 0 rg BT 549.99 166.85 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 153.35 Td (subcontractors ) Tj ET Q q 0 0 0 rg BT 133.11 153.35 Td (to ) Tj ET Q q 0 0 0 rg BT 143.20 153.35 Td (perform ) Tj ET Q q 0 0 0 rg BT 176.79 153.35 Td (their ) Tj ET Q q 0 0 0 rg BT 196.88 153.35 Td (obligation ) Tj ET Q q 0 0 0 rg BT 237.99 153.35 Td (within ) Tj ET Q q 0 0 0 rg BT 263.58 153.35 Td (agreed ) Tj ET Q q 0 0 0 rg BT 294.19 153.35 Td (upon ) Tj ET Q q 0 0 0 rg BT 316.80 153.35 Td (budget ) Tj ET Q q 0 0 0 rg BT 346.91 153.35 Td (and ) Tj ET Q q 0 0 0 rg BT 364.50 153.35 Td (timeframes. ) Tj ET Q q 0 0 0 rg BT 413.93 153.35 Td (T) Tj ET Q q 0 0 0 rg BT 418.43 153.35 Td (o ) Tj ET Q q 0 0 0 rg BT 426.01 153.35 Td (the ) Tj ET Q q 0 0 0 rg BT 441.11 153.35 Td (extent ) Tj ET Q q 0 0 0 rg BT 468.21 153.35 Td (that ) Tj ET Q q 0 0 0 rg BT 485.80 153.35 Td (actual ) Tj ET Q q 0 0 0 rg BT 512.40 153.35 Td (labour ) Tj ET Q q 0 0 0 rg BT 540.00 153.35 Td (hours ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 139.85 Td (or ) Tj ET Q q 0 0 0 rg BT 81.94 139.85 Td (labour ) Tj ET Q q 0 0 0 rg BT 109.39 139.85 Td (costs ) Tj ET Q q 0 0 0 rg BT 132.83 139.85 Td (could ) Tj ET Q q 0 0 0 rg BT 156.78 139.85 Td (vary ) Tj ET Q q 0 0 0 rg BT 176.22 139.85 Td (from ) Tj ET Q q 0 0 0 rg BT 196.66 139.85 Td (estimates, ) Tj ET Q q 0 0 0 rg BT 240.11 139.85 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 291.07 139.85 Td (to ) Tj ET Q q 0 0 0 rg BT 301.01 139.85 Td (revenues ) Tj ET Q q 0 0 0 rg BT 340.47 139.85 Td (following ) Tj ET Q q 0 0 0 rg BT 377.92 139.85 Td (the ) Tj ET Q q 0 0 0 rg BT 392.87 139.85 Td (review ) Tj ET Q q 0 0 0 rg BT 421.31 139.85 Td (of ) Tj ET Q q 0 0 0 rg BT 431.25 139.85 Td (the ) Tj ET Q q 0 0 0 rg BT 446.20 139.85 Td (costs ) Tj ET Q q 0 0 0 rg BT 469.64 139.85 Td (to ) Tj ET Q q 0 0 0 rg BT 479.58 139.85 Td (complete ) Tj ET Q q 0 0 0 rg BT 518.54 139.85 Td (on ) Tj ET Q q 0 0 0 rg BT 530.98 139.85 Td (projects ) Tj ET Q q 0 0 0 rg BT 565.00 139.85 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 126.35 Td (are ) Tj ET Q q 0 0 0 rg BT 86.78 126.35 Td (reflected ) Tj ET Q q 0 0 0 rg BT 123.57 126.35 Td (in ) Tj ET Q q 0 0 0 rg BT 132.85 126.35 Td (the ) Tj ET Q q 0 0 0 rg BT 147.63 126.35 Td (period ) Tj ET Q q 0 0 0 rg BT 174.92 126.35 Td (in ) Tj ET Q q 0 0 0 rg BT 184.20 126.35 Td (which ) Tj ET Q q 0 0 0 rg BT 209.48 126.35 Td (the ) Tj ET Q q 0 0 0 rg BT 224.26 126.35 Td (facts ) Tj ET Q q 0 0 0 rg BT 245.54 126.35 Td (that ) Tj ET Q q 0 0 0 rg BT 262.82 126.35 Td (give ) Tj ET Q q 0 0 0 rg BT 281.61 126.35 Td (rise ) Tj ET Q q 0 0 0 rg BT 298.38 126.35 Td (to ) Tj ET Q q 0 0 0 rg BT 308.16 126.35 Td (the ) Tj ET Q q 0 0 0 rg BT 322.94 126.35 Td (revision ) Tj ET Q q 0 0 0 rg BT 356.23 126.35 Td (occur) Tj ET Q q 0 0 0 rg BT 377.74 126.35 Td (. ) Tj ET Q q 0 0 0 rg BT 382.51 126.35 Td (Whenever ) Tj ET Q q 0 0 0 rg BT 425.80 126.35 Td (the ) Tj ET Q q 0 0 0 rg BT 440.58 126.35 Td (total ) Tj ET Q q 0 0 0 rg BT 459.87 126.35 Td (costs ) Tj ET Q q 0 0 0 rg BT 483.14 126.35 Td (are ) Tj ET Q q 0 0 0 rg BT 498.42 126.35 Td (forecasted ) Tj ET Q q 0 0 0 rg BT 542.72 126.35 Td (to ) Tj ET Q q 0 0 0 rg BT 552.50 126.35 Td (be ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 112.85 Td (higher ) Tj ET Q q 0 0 0 rg BT 99.02 112.85 Td (than ) Tj ET Q q 0 0 0 rg BT 119.04 112.85 Td (the ) Tj ET Q q 0 0 0 rg BT 134.05 112.85 Td (total ) Tj ET Q q 0 0 0 rg BT 153.56 112.85 Td (revenues, ) Tj ET Q q 0 0 0 rg BT 195.58 112.85 Td (estimated ) Tj ET Q q 0 0 0 rg BT 237.10 112.85 Td (losses ) Tj ET Q q 0 0 0 rg BT 265.11 112.85 Td (on ) Tj ET Q q 0 0 0 rg BT 277.63 112.85 Td (revenue-generating ) Tj ET Q q 0 0 0 rg BT 358.18 112.85 Td (contracts ) Tj ET Q q 0 0 0 rg BT 397.20 112.85 Td (is ) Tj ET Q q 0 0 0 rg BT 406.20 112.85 Td (accounted ) Tj ET Q q 0 0 0 rg BT 450.23 112.85 Td (for ) Tj ET Q q 0 0 0 rg BT 463.23 112.85 Td (as ) Tj ET Q q 0 0 0 rg BT 475.24 112.85 Td (described ) Tj ET Q q 0 0 0 rg BT 516.76 112.85 Td (below) Tj ET Q q 0 0 0 rg BT 539.78 112.85 Td (.) Tj ET Q endstream endobj 91 0 obj <> endobj 92 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (44) Tj ET Q BT /F1 10.00 Tf ET BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 72 707.666796875 m 272.109375 707.666796875 l s q 0 0 0 rg BT 72.00 708.95 Td (Estimated ) Tj ET Q q 0 0 0 rg BT 114.52 708.95 Td (losses ) Tj ET Q q 0 0 0 rg BT 142.53 708.95 Td (on ) Tj ET Q q 0 0 0 rg BT 155.04 708.95 Td (revenue-generating ) Tj ET Q q 0 0 0 rg BT 235.60 708.95 Td (contracts) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 689.45 Td (Estimated ) Tj ET Q q 0 0 0 rg BT 114.66 689.45 Td (losses ) Tj ET Q q 0 0 0 rg BT 143.31 689.45 Td (on ) Tj ET Q q 0 0 0 rg BT 156.46 689.45 Td (revenue-generating ) Tj ET Q q 0 0 0 rg BT 237.65 689.45 Td (contracts ) Tj ET Q q 0 0 0 rg BT 277.31 689.45 Td (may ) Tj ET Q q 0 0 0 rg BT 297.45 689.45 Td (occur ) Tj ET Q q 0 0 0 rg BT 322.60 689.45 Td (due ) Tj ET Q q 0 0 0 rg BT 340.75 689.45 Td (to ) Tj ET Q q 0 0 0 rg BT 351.40 689.45 Td (additional ) Tj ET Q q 0 0 0 rg BT 393.07 689.45 Td (contract ) Tj ET Q q 0 0 0 rg BT 428.23 689.45 Td (costs ) Tj ET Q q 0 0 0 rg BT 452.37 689.45 Td (which ) Tj ET Q q 0 0 0 rg BT 478.52 689.45 Td (were ) Tj ET Q q 0 0 0 rg BT 501.17 689.45 Td (not ) Tj ET Q q 0 0 0 rg BT 516.82 689.45 Td (foreseen ) Tj ET Q q 0 0 0 rg BT 554.99 689.45 Td (at ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 675.95 Td (inception ) Tj ET Q q 0 0 0 rg BT 110.91 675.95 Td (of ) Tj ET Q q 0 0 0 rg BT 121.80 675.95 Td (the ) Tj ET Q q 0 0 0 rg BT 137.69 675.95 Td (contract. ) Tj ET Q q 0 0 0 rg BT 175.59 675.95 Td (Projects ) Tj ET Q q 0 0 0 rg BT 211.48 675.95 Td (and ) Tj ET Q q 0 0 0 rg BT 229.88 675.95 Td (services ) Tj ET Q q 0 0 0 rg BT 266.27 675.95 Td (are ) Tj ET Q q 0 0 0 rg BT 282.65 675.95 Td (monitored ) Tj ET Q q 0 0 0 rg BT 326.06 675.95 Td (by ) Tj ET Q q 0 0 0 rg BT 338.94 675.95 Td (the ) Tj ET Q q 0 0 0 rg BT 354.84 675.95 Td (project ) Tj ET Q q 0 0 0 rg BT 385.23 675.95 Td (managers ) Tj ET Q q 0 0 0 rg BT 428.64 675.95 Td (on ) Tj ET Q q 0 0 0 rg BT 442.03 675.95 Td (a ) Tj ET Q q 0 0 0 rg BT 450.42 675.95 Td (monthly ) Tj ET Q q 0 0 0 rg BT 485.31 675.95 Td (basis. ) Tj ET Q q 0 0 0 rg BT 512.20 675.95 Td (Some ) Tj ET Q q 0 0 0 rg BT 539.10 675.95 Td (of ) Tj ET Q q 0 0 0 rg BT 549.98 675.95 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 662.45 Td (indicators ) Tj ET Q q 0 0 0 rg BT 112.47 662.45 Td (reviewed ) Tj ET Q q 0 0 0 rg BT 150.94 662.45 Td (are: ) Tj ET Q q 0 0 0 rg BT 168.91 662.45 Td (current ) Tj ET Q q 0 0 0 rg BT 199.37 662.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 234.85 662.45 Td (results, ) Tj ET Q q 0 0 0 rg BT 266.31 662.45 Td (delays ) Tj ET Q q 0 0 0 rg BT 294.78 662.45 Td (in ) Tj ET Q q 0 0 0 rg BT 304.24 662.45 Td (reaching ) Tj ET Q q 0 0 0 rg BT 341.21 662.45 Td (milestones, ) Tj ET Q q 0 0 0 rg BT 389.19 662.45 Td (new ) Tj ET Q q 0 0 0 rg BT 408.15 662.45 Td (complexities ) Tj ET Q q 0 0 0 rg BT 460.12 662.45 Td (in ) Tj ET Q q 0 0 0 rg BT 469.58 662.45 Td (the ) Tj ET Q q 0 0 0 rg BT 484.55 662.45 Td (project ) Tj ET Q q 0 0 0 rg BT 514.01 662.45 Td (delivery ) Tj ET Q q 0 0 0 rg BT 547.48 662.45 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 648.95 Td (third ) Tj ET Q q 0 0 0 rg BT 91.51 648.95 Td (party ) Tj ET Q q 0 0 0 rg BT 114.02 648.95 Td (deliverables ) Tj ET Q q 0 0 0 rg BT 164.55 648.95 Td (and ) Tj ET Q q 0 0 0 rg BT 182.06 648.95 Td (estimated ) Tj ET Q q 0 0 0 rg BT 223.58 648.95 Td (costs.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 621.95 Td (In ) Tj ET Q q 0 0 0 rg BT 81.64 621.95 Td (addition, ) Tj ET Q q 0 0 0 rg BT 118.30 621.95 Td (CGI) Tj ET Q q 0 0 0 rg BT 136.13 621.95 Td (s ) Tj ET Q q 0 0 0 rg BT 143.27 621.95 Td (Engagement ) Tj ET Q q 0 0 0 rg BT 196.41 621.95 Td (Assessment ) Tj ET Q q 0 0 0 rg BT 248.06 621.95 Td (Services ) Tj ET Q q 0 0 0 rg BT 285.21 621.95 Td (\(EAS\) ) Tj ET Q q 0 0 0 rg BT 317.84 621.95 Td (team ) Tj ET Q q 0 0 0 rg BT 340.48 621.95 Td (conducts ) Tj ET Q q 0 0 0 rg BT 379.13 621.95 Td (a ) Tj ET Q q 0 0 0 rg BT 386.77 621.95 Td (formal ) Tj ET Q q 0 0 0 rg BT 414.41 621.95 Td (monthly ) Tj ET Q q 0 0 0 rg BT 448.55 621.95 Td (health ) Tj ET Q q 0 0 0 rg BT 475.70 621.95 Td (check ) Tj ET Q q 0 0 0 rg BT 501.85 621.95 Td (assessment ) Tj ET Q q 0 0 0 rg BT 552.50 621.95 Td (on ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 608.45 Td (CGI) Tj ET Q q 0 0 0 rg BT 89.34 608.45 Td (s ) Tj ET Q q 0 0 0 rg BT 96.34 608.45 Td (project ) Tj ET Q q 0 0 0 rg BT 125.86 608.45 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 160.38 608.45 Td (for ) Tj ET Q q 0 0 0 rg BT 173.38 608.45 Td (all ) Tj ET Q q 0 0 0 rg BT 184.89 608.45 Td (contracts ) Tj ET Q q 0 0 0 rg BT 223.91 608.45 Td (that ) Tj ET Q q 0 0 0 rg BT 241.42 608.45 Td (has ) Tj ET Q q 0 0 0 rg BT 258.44 608.45 Td (a ) Tj ET Q q 0 0 0 rg BT 265.94 608.45 Td (value ) Tj ET Q q 0 0 0 rg BT 289.96 608.45 Td (above ) Tj ET Q q 0 0 0 rg BT 316.99 608.45 Td (an ) Tj ET Q q 0 0 0 rg BT 329.50 608.45 Td (established ) Tj ET Q q 0 0 0 rg BT 377.54 608.45 Td (threshold. ) Tj ET Q q 0 0 0 rg BT 419.40 608.45 Td (The ) Tj ET Q q 0 0 0 rg BT 437.41 608.45 Td (reviews ) Tj ET Q q 0 0 0 rg BT 470.42 608.45 Td (are ) Tj ET Q q 0 0 0 rg BT 485.93 608.45 Td (based ) Tj ET Q q 0 0 0 rg BT 512.96 608.45 Td (on ) Tj ET Q q 0 0 0 rg BT 525.47 608.45 Td (a ) Tj ET Q q 0 0 0 rg BT 532.98 608.45 Td (defined ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 594.95 Td (set ) Tj ET Q q 0 0 0 rg BT 85.11 594.95 Td (of ) Tj ET Q q 0 0 0 rg BT 94.22 594.95 Td (risk ) Tj ET Q q 0 0 0 rg BT 109.82 594.95 Td (dimensions ) Tj ET Q q 0 0 0 rg BT 156.94 594.95 Td (and ) Tj ET Q q 0 0 0 rg BT 173.56 594.95 Td (assessment ) Tj ET Q q 0 0 0 rg BT 223.18 594.95 Td (categories ) Tj ET Q q 0 0 0 rg BT 266.31 594.95 Td (that ) Tj ET Q q 0 0 0 rg BT 282.93 594.95 Td (results ) Tj ET Q q 0 0 0 rg BT 311.04 594.95 Td (in ) Tj ET Q q 0 0 0 rg BT 319.65 594.95 Td (detailed ) Tj ET Q q 0 0 0 rg BT 352.77 594.95 Td (reports ) Tj ET Q q 0 0 0 rg BT 382.39 594.95 Td (containing ) Tj ET Q q 0 0 0 rg BT 425.02 594.95 Td (actual ) Tj ET Q q 0 0 0 rg BT 450.64 594.95 Td (delivery ) Tj ET Q q 0 0 0 rg BT 483.26 594.95 Td (and ) Tj ET Q q 0 0 0 rg BT 499.88 594.95 Td (current ) Tj ET Q q 0 0 0 rg BT 529.49 594.95 Td (financial ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 581.45 Td (status ) Tj ET Q q 0 0 0 rg BT 97.72 581.45 Td (which ) Tj ET Q q 0 0 0 rg BT 122.94 581.45 Td (are ) Tj ET Q q 0 0 0 rg BT 138.15 581.45 Td (reviewed ) Tj ET Q q 0 0 0 rg BT 176.38 581.45 Td (with ) Tj ET Q q 0 0 0 rg BT 194.59 581.45 Td (the ) Tj ET Q q 0 0 0 rg BT 209.31 581.45 Td (Executive ) Tj ET Q q 0 0 0 rg BT 250.53 581.45 Td (management. ) Tj ET Q q 0 0 0 rg BT 307.77 581.45 Td (Due ) Tj ET Q q 0 0 0 rg BT 326.49 581.45 Td (to ) Tj ET Q q 0 0 0 rg BT 336.21 581.45 Td (the ) Tj ET Q q 0 0 0 rg BT 350.92 581.45 Td (variability ) Tj ET Q q 0 0 0 rg BT 390.64 581.45 Td (of ) Tj ET Q q 0 0 0 rg BT 400.36 581.45 Td (the ) Tj ET Q q 0 0 0 rg BT 415.08 581.45 Td (indicators ) Tj ET Q q 0 0 0 rg BT 455.80 581.45 Td (reviewed, ) Tj ET Q q 0 0 0 rg BT 496.53 581.45 Td (and ) Tj ET Q q 0 0 0 rg BT 513.75 581.45 Td (because ) Tj ET Q q 0 0 0 rg BT 549.99 581.45 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 567.95 Td (estimates ) Tj ET Q q 0 0 0 rg BT 112.51 567.95 Td (are ) Tj ET Q q 0 0 0 rg BT 128.02 567.95 Td (based ) Tj ET Q q 0 0 0 rg BT 155.04 567.95 Td (on ) Tj ET Q q 0 0 0 rg BT 167.56 567.95 Td (many ) Tj ET Q q 0 0 0 rg BT 192.06 567.95 Td (variables, ) Tj ET Q q 0 0 0 rg BT 233.08 567.95 Td (estimated ) Tj ET Q q 0 0 0 rg BT 274.60 567.95 Td (losses ) Tj ET Q q 0 0 0 rg BT 302.61 567.95 Td (on ) Tj ET Q q 0 0 0 rg BT 315.12 567.95 Td (revenue-generating ) Tj ET Q q 0 0 0 rg BT 395.68 567.95 Td (contracts ) Tj ET Q q 0 0 0 rg BT 434.69 567.95 Td (are ) Tj ET Q q 0 0 0 rg BT 450.20 567.95 Td (subject ) Tj ET Q q 0 0 0 rg BT 481.22 567.95 Td (to ) Tj ET Q q 0 0 0 rg BT 491.23 567.95 Td (change. ) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 546.866796875 m 155.02734375 546.866796875 l s q 0 0 0 rg BT 73.50 548.15 Td (Goodwill ) Tj ET Q q 0 0 0 rg BT 110.52 548.15 Td (impairment) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 531.65 Td (The ) Tj ET Q q 0 0 0 rg BT 88.27 531.65 Td (carrying ) Tj ET Q q 0 0 0 rg BT 121.55 531.65 Td (value ) Tj ET Q q 0 0 0 rg BT 144.32 531.65 Td (of ) Tj ET Q q 0 0 0 rg BT 153.09 531.65 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 186.88 531.65 Td (is ) Tj ET Q q 0 0 0 rg BT 194.64 531.65 Td (tested ) Tj ET Q q 0 0 0 rg BT 220.42 531.65 Td (for ) Tj ET Q q 0 0 0 rg BT 232.19 531.65 Td (impairment ) Tj ET Q q 0 0 0 rg BT 277.96 531.65 Td (annually ) Tj ET Q q 0 0 0 rg BT 312.75 531.65 Td (on ) Tj ET Q q 0 0 0 rg BT 324.03 531.65 Td (September ) Tj ET Q q 0 0 0 rg BT 369.32 531.65 Td (30, ) Tj ET Q q 0 0 0 rg BT 383.09 531.65 Td (or ) Tj ET Q q 0 0 0 rg BT 392.36 531.65 Td (earlier ) Tj ET Q q 0 0 0 rg BT 418.63 531.65 Td (if ) Tj ET Q q 0 0 0 rg BT 424.39 531.65 Td (events ) Tj ET Q q 0 0 0 rg BT 452.17 531.65 Td (or ) Tj ET Q q 0 0 0 rg BT 461.44 531.65 Td (changes ) Tj ET Q q 0 0 0 rg BT 496.73 531.65 Td (in ) Tj ET Q q 0 0 0 rg BT 505.00 531.65 Td (circumstances ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 518.15 Td (indicate ) Tj ET Q q 0 0 0 rg BT 104.80 518.15 Td (that ) Tj ET Q q 0 0 0 rg BT 122.09 518.15 Td (the ) Tj ET Q q 0 0 0 rg BT 136.87 518.15 Td (carrying ) Tj ET Q q 0 0 0 rg BT 171.16 518.15 Td (value ) Tj ET Q q 0 0 0 rg BT 194.95 518.15 Td (may ) Tj ET Q q 0 0 0 rg BT 214.23 518.15 Td (be ) Tj ET Q q 0 0 0 rg BT 226.52 518.15 Td (impaired. ) Tj ET Q q 0 0 0 rg BT 265.81 518.15 Td (In ) Tj ET Q q 0 0 0 rg BT 275.60 518.15 Td (order ) Tj ET Q q 0 0 0 rg BT 298.88 518.15 Td (to ) Tj ET Q q 0 0 0 rg BT 308.67 518.15 Td (determine ) Tj ET Q q 0 0 0 rg BT 350.96 518.15 Td (if ) Tj ET Q q 0 0 0 rg BT 357.74 518.15 Td (a ) Tj ET Q q 0 0 0 rg BT 365.02 518.15 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 399.82 518.15 Td (impairment ) Tj ET Q q 0 0 0 rg BT 446.61 518.15 Td (test ) Tj ET Q q 0 0 0 rg BT 463.39 518.15 Td (is ) Tj ET Q q 0 0 0 rg BT 472.17 518.15 Td (required, ) Tj ET Q q 0 0 0 rg BT 509.96 518.15 Td (management ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 504.65 Td (reviews ) Tj ET Q q 0 0 0 rg BT 103.71 504.65 Td (dif) Tj ET Q q 0 0 0 rg BT 113.05 504.65 Td (ferent ) Tj ET Q q 0 0 0 rg BT 137.77 504.65 Td (factors ) Tj ET Q q 0 0 0 rg BT 166.47 504.65 Td (on ) Tj ET Q q 0 0 0 rg BT 178.19 504.65 Td (a ) Tj ET Q q 0 0 0 rg BT 184.89 504.65 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 221.61 504.65 Td (basis ) Tj ET Q q 0 0 0 rg BT 244.32 504.65 Td (such ) Tj ET Q q 0 0 0 rg BT 265.03 504.65 Td (as ) Tj ET Q q 0 0 0 rg BT 276.24 504.65 Td (changes ) Tj ET Q q 0 0 0 rg BT 311.96 504.65 Td (in ) Tj ET Q q 0 0 0 rg BT 320.67 504.65 Td (technological ) Tj ET Q q 0 0 0 rg BT 374.91 504.65 Td (or ) Tj ET Q q 0 0 0 rg BT 384.61 504.65 Td (market ) Tj ET Q q 0 0 0 rg BT 413.82 504.65 Td (environment, ) Tj ET Q q 0 0 0 rg BT 467.54 504.65 Td (changes ) Tj ET Q q 0 0 0 rg BT 503.27 504.65 Td (in ) Tj ET Q q 0 0 0 rg BT 511.98 504.65 Td (assumptions ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 491.15 Td (used ) Tj ET Q q 0 0 0 rg BT 95.18 491.15 Td (to ) Tj ET Q q 0 0 0 rg BT 106.86 491.15 Td (derive ) Tj ET Q q 0 0 0 rg BT 135.54 491.15 Td (the ) Tj ET Q q 0 0 0 rg BT 152.22 491.15 Td (weighted ) Tj ET Q q 0 0 0 rg BT 192.41 491.15 Td (average ) Tj ET Q q 0 0 0 rg BT 229.11 491.15 Td (cost ) Tj ET Q q 0 0 0 rg BT 249.78 491.15 Td (of ) Tj ET Q q 0 0 0 rg BT 261.46 491.15 Td (capital ) Tj ET Q q 0 0 0 rg BT 291.64 491.15 Td (\("W) Tj ET Q q 0 0 0 rg BT 305.99 491.15 Td (ACC"\) ) Tj ET Q q 0 0 0 rg BT 335.35 491.15 Td (and ) Tj ET Q q 0 0 0 rg BT 354.54 491.15 Td (actual ) Tj ET Q q 0 0 0 rg BT 382.72 491.15 Td (financial ) Tj ET Q q 0 0 0 rg BT 419.91 491.15 Td (performance ) Tj ET Q q 0 0 0 rg BT 474.60 491.15 Td (compared ) Tj ET Q q 0 0 0 rg BT 518.79 491.15 Td (to ) Tj ET Q q 0 0 0 rg BT 530.47 491.15 Td (planned ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 477.65 Td (performance.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 458.15 Td (The ) Tj ET Q q 0 0 0 rg BT 89.52 458.15 Td (recoverable ) Tj ET Q q 0 0 0 rg BT 139.06 458.15 Td (amount ) Tj ET Q q 0 0 0 rg BT 171.60 458.15 Td (of ) Tj ET Q q 0 0 0 rg BT 181.62 458.15 Td (each ) Tj ET Q q 0 0 0 rg BT 203.65 458.15 Td (segment ) Tj ET Q q 0 0 0 rg BT 240.68 458.15 Td (has ) Tj ET Q q 0 0 0 rg BT 257.70 458.15 Td (been ) Tj ET Q q 0 0 0 rg BT 280.24 458.15 Td (determined ) Tj ET Q q 0 0 0 rg BT 327.78 458.15 Td (based ) Tj ET Q q 0 0 0 rg BT 354.82 458.15 Td (on ) Tj ET Q q 0 0 0 rg BT 367.34 458.15 Td (its ) Tj ET Q q 0 0 0 rg BT 378.85 458.15 Td (value ) Tj ET Q q 0 0 0 rg BT 402.88 458.15 Td (in ) Tj ET Q q 0 0 0 rg BT 412.40 458.15 Td (use ) Tj ET Q q 0 0 0 rg BT 429.43 458.15 Td (\(VIU\) ) Tj ET Q q 0 0 0 rg BT 458.93 458.15 Td (calculation ) Tj ET Q q 0 0 0 rg BT 503.97 458.15 Td (which ) Tj ET Q q 0 0 0 rg BT 529.50 458.15 Td (includes ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 444.65 Td (estimates ) Tj ET Q q 0 0 0 rg BT 112.31 444.65 Td (about ) Tj ET Q q 0 0 0 rg BT 137.13 444.65 Td (their ) Tj ET Q q 0 0 0 rg BT 156.93 444.65 Td (future ) Tj ET Q q 0 0 0 rg BT 182.24 444.65 Td (financial ) Tj ET Q q 0 0 0 rg BT 217.56 444.65 Td (performance ) Tj ET Q q 0 0 0 rg BT 270.38 444.65 Td (based ) Tj ET Q q 0 0 0 rg BT 297.20 444.65 Td (on ) Tj ET Q q 0 0 0 rg BT 309.51 444.65 Td (cash ) Tj ET Q q 0 0 0 rg BT 330.81 444.65 Td (flows ) Tj ET Q q 0 0 0 rg BT 353.61 444.65 Td (approved ) Tj ET Q q 0 0 0 rg BT 393.44 444.65 Td (by ) Tj ET Q q 0 0 0 rg BT 405.24 444.65 Td (management. ) Tj ET Q q 0 0 0 rg BT 462.57 444.65 Td (However) Tj ET Q q 0 0 0 rg BT 497.59 444.65 Td (, ) Tj ET Q q 0 0 0 rg BT 502.38 444.65 Td (factors ) Tj ET Q q 0 0 0 rg BT 531.69 444.65 Td (such ) Tj ET Q q 0 0 0 rg BT 553.00 444.65 Td (as ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 431.15 Td (our ) Tj ET Q q 0 0 0 rg BT 87.77 431.15 Td (ability ) Tj ET Q q 0 0 0 rg BT 114.03 431.15 Td (to ) Tj ET Q q 0 0 0 rg BT 124.80 431.15 Td (continue ) Tj ET Q q 0 0 0 rg BT 162.08 431.15 Td (developing ) Tj ET Q q 0 0 0 rg BT 208.87 431.15 Td (and ) Tj ET Q q 0 0 0 rg BT 227.15 431.15 Td (expanding ) Tj ET Q q 0 0 0 rg BT 271.94 431.15 Td (service ) Tj ET Q q 0 0 0 rg BT 303.71 431.15 Td (of) Tj ET Q q 0 0 0 rg BT 311.05 431.15 Td (fered ) Tj ET Q q 0 0 0 rg BT 334.82 431.15 Td (to ) Tj ET Q q 0 0 0 rg BT 345.58 431.15 Td (address ) Tj ET Q q 0 0 0 rg BT 380.86 431.15 Td (emerging ) Tj ET Q q 0 0 0 rg BT 421.64 431.15 Td (business ) Tj ET Q q 0 0 0 rg BT 460.42 431.15 Td (demands ) Tj ET Q q 0 0 0 rg BT 500.70 431.15 Td (and ) Tj ET Q q 0 0 0 rg BT 518.97 431.15 Td (technology ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 417.65 Td (trends, ) Tj ET Q q 0 0 0 rg BT 101.32 417.65 Td (a ) Tj ET Q q 0 0 0 rg BT 108.63 417.65 Td (lengthened ) Tj ET Q q 0 0 0 rg BT 155.47 417.65 Td (sales ) Tj ET Q q 0 0 0 rg BT 178.78 417.65 Td (cycle ) Tj ET Q q 0 0 0 rg BT 201.59 417.65 Td (and ) Tj ET Q q 0 0 0 rg BT 218.91 417.65 Td (our ) Tj ET Q q 0 0 0 rg BT 234.22 417.65 Td (ability ) Tj ET Q q 0 0 0 rg BT 259.53 417.65 Td (to ) Tj ET Q q 0 0 0 rg BT 269.34 417.65 Td (hire ) Tj ET Q q 0 0 0 rg BT 286.65 417.65 Td (and ) Tj ET Q q 0 0 0 rg BT 303.97 417.65 Td (retain ) Tj ET Q q 0 0 0 rg BT 328.79 417.65 Td (qualified ) Tj ET Q q 0 0 0 rg BT 364.62 417.65 Td (IT) Tj ET Q q 0 0 0 rg BT 372.45 417.65 Td ( ) Tj ET Q q 0 0 0 rg BT 374.75 417.65 Td (professionals ) Tj ET Q q 0 0 0 rg BT 430.08 417.65 Td (af) Tj ET Q q 0 0 0 rg BT 437.43 417.65 Td (fect ) Tj ET Q q 0 0 0 rg BT 454.24 417.65 Td (future ) Tj ET Q q 0 0 0 rg BT 479.55 417.65 Td (cash ) Tj ET Q q 0 0 0 rg BT 500.87 417.65 Td (flow) Tj ET Q q 0 0 0 rg BT 516.38 417.65 Td (, ) Tj ET Q q 0 0 0 rg BT 521.18 417.65 Td (and ) Tj ET Q q 0 0 0 rg BT 538.50 417.65 Td (actual ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 404.15 Td (results ) Tj ET Q q 0 0 0 rg BT 100.08 404.15 Td (might ) Tj ET Q q 0 0 0 rg BT 124.17 404.15 Td (dif) Tj ET Q q 0 0 0 rg BT 133.51 404.15 Td (fer ) Tj ET Q q 0 0 0 rg BT 146.09 404.15 Td (from ) Tj ET Q q 0 0 0 rg BT 166.17 404.15 Td (future ) Tj ET Q q 0 0 0 rg BT 191.26 404.15 Td (cash ) Tj ET Q q 0 0 0 rg BT 212.35 404.15 Td (flows ) Tj ET Q q 0 0 0 rg BT 234.93 404.15 Td (used ) Tj ET Q q 0 0 0 rg BT 256.52 404.15 Td (in ) Tj ET Q q 0 0 0 rg BT 265.60 404.15 Td (the ) Tj ET Q q 0 0 0 rg BT 280.19 404.15 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 314.79 404.15 Td (impairment ) Tj ET Q q 0 0 0 rg BT 361.38 404.15 Td (test. ) Tj ET Q q 0 0 0 rg BT 380.46 404.15 Td ( ) Tj ET Q q 0 0 0 rg BT 382.54 404.15 Td (Key ) Tj ET Q q 0 0 0 rg BT 400.12 404.15 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 452.72 404.15 Td (used ) Tj ET Q q 0 0 0 rg BT 474.31 404.15 Td (in ) Tj ET Q q 0 0 0 rg BT 483.40 404.15 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 517.99 404.15 Td (impairment ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 390.65 Td (testing ) Tj ET Q q 0 0 0 rg BT 100.69 390.65 Td (are ) Tj ET Q q 0 0 0 rg BT 116.36 390.65 Td (presented ) Tj ET Q q 0 0 0 rg BT 159.06 390.65 Td (in ) Tj ET Q q 0 0 0 rg BT 168.73 390.65 Td (note ) Tj ET Q q 0 0 0 rg BT 188.92 390.65 Td (1) Tj ET Q q 0 0 0 rg BT 193.26 390.65 Td (1 ) Tj ET Q q 0 0 0 rg BT 200.93 390.65 Td (of ) Tj ET Q q 0 0 0 rg BT 211.11 390.65 Td (audited ) Tj ET Q q 0 0 0 rg BT 243.30 390.65 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 296.51 390.65 Td (financial ) Tj ET Q q 0 0 0 rg BT 332.20 390.65 Td (statements ) Tj ET Q q 0 0 0 rg BT 378.89 390.65 Td (for ) Tj ET Q q 0 0 0 rg BT 392.06 390.65 Td (the ) Tj ET Q q 0 0 0 rg BT 407.24 390.65 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 430.41 390.65 Td (year ) Tj ET Q q 0 0 0 rg BT 450.59 390.65 Td (ended ) Tj ET Q q 0 0 0 rg BT 478.29 390.65 Td (September30, ) Tj ET Q q 0 0 0 rg BT 539.99 390.65 Td (2016. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 377.15 Td (Historically ) Tj ET Q q 0 0 0 rg BT 117.97 377.15 Td (the ) Tj ET Q q 0 0 0 rg BT 133.45 377.15 Td (Company ) Tj ET Q q 0 0 0 rg BT 174.93 377.15 Td (has ) Tj ET Q q 0 0 0 rg BT 192.41 377.15 Td (not ) Tj ET Q q 0 0 0 rg BT 207.89 377.15 Td (recorded ) Tj ET Q q 0 0 0 rg BT 246.37 377.15 Td (an ) Tj ET Q q 0 0 0 rg BT 259.35 377.15 Td (impairment ) Tj ET Q q 0 0 0 rg BT 306.83 377.15 Td (charge ) Tj ET Q q 0 0 0 rg BT 337.31 377.15 Td (on ) Tj ET Q q 0 0 0 rg BT 350.29 377.15 Td (goodwill. ) Tj ET Q q 0 0 0 rg BT 387.69 377.15 Td (As ) Tj ET Q q 0 0 0 rg BT 401.15 377.15 Td (at ) Tj ET Q q 0 0 0 rg BT 411.63 377.15 Td (September ) Tj ET Q q 0 0 0 rg BT 458.62 377.15 Td (30, ) Tj ET Q q 0 0 0 rg BT 474.09 377.15 Td (2016, ) Tj ET Q q 0 0 0 rg BT 499.58 377.15 Td (the ) Tj ET Q q 0 0 0 rg BT 515.06 377.15 Td (fair ) Tj ET Q q 0 0 0 rg BT 530.53 377.15 Td (value ) Tj ET Q q 0 0 0 rg BT 555.01 377.15 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 363.65 Td (each ) Tj ET Q q 0 0 0 rg BT 93.52 363.65 Td (segment ) Tj ET Q q 0 0 0 rg BT 130.54 363.65 Td (represents ) Tj ET Q q 0 0 0 rg BT 175.56 363.65 Td (between ) Tj ET Q q 0 0 0 rg BT 212.09 363.65 Td (180% ) Tj ET Q q 0 0 0 rg BT 237.60 363.65 Td (and ) Tj ET Q q 0 0 0 rg BT 255.12 363.65 Td (350% ) Tj ET Q q 0 0 0 rg BT 280.64 363.65 Td (of ) Tj ET Q q 0 0 0 rg BT 290.65 363.65 Td (its ) Tj ET Q q 0 0 0 rg BT 302.15 363.65 Td (carrying ) Tj ET Q q 0 0 0 rg BT 336.66 363.65 Td (value. ) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 72 339.866796875 m 125.525390625 339.866796875 l s q 0 0 0 rg BT 72.00 341.15 Td (Income ) Tj ET Q q 0 0 0 rg BT 104.01 341.15 Td (taxes) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 321.65 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 108.48 321.65 Td (tax ) Tj ET Q q 0 0 0 rg BT 122.46 321.65 Td (assets ) Tj ET Q q 0 0 0 rg BT 150.44 321.65 Td (are ) Tj ET Q q 0 0 0 rg BT 165.41 321.65 Td (recognized ) Tj ET Q q 0 0 0 rg BT 211.41 321.65 Td (for ) Tj ET Q q 0 0 0 rg BT 223.88 321.65 Td (unused ) Tj ET Q q 0 0 0 rg BT 255.38 321.65 Td (tax ) Tj ET Q q 0 0 0 rg BT 269.35 321.65 Td (losses ) Tj ET Q q 0 0 0 rg BT 296.83 321.65 Td (and ) Tj ET Q q 0 0 0 rg BT 313.81 321.65 Td (deductible ) Tj ET Q q 0 0 0 rg BT 356.81 321.65 Td (temporary ) Tj ET Q q 0 0 0 rg BT 399.30 321.65 Td (dif) Tj ET Q q 0 0 0 rg BT 408.64 321.65 Td (ferences ) Tj ET Q q 0 0 0 rg BT 445.13 321.65 Td (to ) Tj ET Q q 0 0 0 rg BT 454.60 321.65 Td (the ) Tj ET Q q 0 0 0 rg BT 469.08 321.65 Td (extent ) Tj ET Q q 0 0 0 rg BT 495.56 321.65 Td (that ) Tj ET Q q 0 0 0 rg BT 512.54 321.65 Td (it ) Tj ET Q q 0 0 0 rg BT 519.01 321.65 Td (is ) Tj ET Q q 0 0 0 rg BT 527.48 321.65 Td (probable ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 308.15 Td (that ) Tj ET Q q 0 0 0 rg BT 88.61 308.15 Td (taxable ) Tj ET Q q 0 0 0 rg BT 119.73 308.15 Td (profit ) Tj ET Q q 0 0 0 rg BT 141.84 308.15 Td (will ) Tj ET Q q 0 0 0 rg BT 156.43 308.15 Td (be ) Tj ET Q q 0 0 0 rg BT 168.54 308.15 Td (available ) Tj ET Q q 0 0 0 rg BT 206.17 308.15 Td (for ) Tj ET Q q 0 0 0 rg BT 218.77 308.15 Td (their ) Tj ET Q q 0 0 0 rg BT 238.38 308.15 Td (utilization. ) Tj ET Q q 0 0 0 rg BT 280.36 308.15 Td (The ) Tj ET Q q 0 0 0 rg BT 297.97 308.15 Td (Company ) Tj ET Q q 0 0 0 rg BT 338.58 308.15 Td (considers ) Tj ET Q q 0 0 0 rg BT 379.20 308.15 Td (the ) Tj ET Q q 0 0 0 rg BT 393.81 308.15 Td (analysis ) Tj ET Q q 0 0 0 rg BT 428.42 308.15 Td (of ) Tj ET Q q 0 0 0 rg BT 438.03 308.15 Td (forecast ) Tj ET Q q 0 0 0 rg BT 472.14 308.15 Td (and ) Tj ET Q q 0 0 0 rg BT 489.25 308.15 Td (future ) Tj ET Q q 0 0 0 rg BT 514.37 308.15 Td (tax ) Tj ET Q q 0 0 0 rg BT 528.47 308.15 Td (planning ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 294.65 Td (strategies. ) Tj ET Q q 0 0 0 rg BT 114.62 294.65 Td (Estimates ) Tj ET Q q 0 0 0 rg BT 155.73 294.65 Td (of ) Tj ET Q q 0 0 0 rg BT 164.83 294.65 Td (taxable ) Tj ET Q q 0 0 0 rg BT 195.45 294.65 Td (profit ) Tj ET Q q 0 0 0 rg BT 217.06 294.65 Td (are ) Tj ET Q q 0 0 0 rg BT 231.66 294.65 Td (made ) Tj ET Q q 0 0 0 rg BT 255.77 294.65 Td (based ) Tj ET Q q 0 0 0 rg BT 281.89 294.65 Td (on ) Tj ET Q q 0 0 0 rg BT 293.50 294.65 Td (the ) Tj ET Q q 0 0 0 rg BT 307.61 294.65 Td (forecast ) Tj ET Q q 0 0 0 rg BT 341.22 294.65 Td (by ) Tj ET Q q 0 0 0 rg BT 352.33 294.65 Td (jurisdiction ) Tj ET Q q 0 0 0 rg BT 396.44 294.65 Td (which ) Tj ET Q q 0 0 0 rg BT 421.05 294.65 Td (are ) Tj ET Q q 0 0 0 rg BT 435.66 294.65 Td (aligned ) Tj ET Q q 0 0 0 rg BT 466.28 294.65 Td (with ) Tj ET Q q 0 0 0 rg BT 483.88 294.65 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 518.00 294.65 Td (impairment ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 281.15 Td (testing ) Tj ET Q q 0 0 0 rg BT 100.03 281.15 Td (assumptions, ) Tj ET Q q 0 0 0 rg BT 155.07 281.15 Td (on ) Tj ET Q q 0 0 0 rg BT 167.10 281.15 Td (an ) Tj ET Q q 0 0 0 rg BT 179.12 281.15 Td (undiscounted ) Tj ET Q q 0 0 0 rg BT 234.68 281.15 Td (basis. ) Tj ET Q q 0 0 0 rg BT 260.20 281.15 Td (In ) Tj ET Q q 0 0 0 rg BT 269.72 281.15 Td (addition, ) Tj ET Q q 0 0 0 rg BT 305.77 281.15 Td (management ) Tj ET Q q 0 0 0 rg BT 360.31 281.15 Td (considers ) Tj ET Q q 0 0 0 rg BT 400.85 281.15 Td (factors ) Tj ET Q q 0 0 0 rg BT 429.87 281.15 Td (such ) Tj ET Q q 0 0 0 rg BT 450.89 281.15 Td (as ) Tj ET Q q 0 0 0 rg BT 462.41 281.15 Td (substantively ) Tj ET Q q 0 0 0 rg BT 516.46 281.15 Td (enacted ) Tj ET Q q 0 0 0 rg BT 550.50 281.15 Td (tax ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 267.65 Td (rates, ) Tj ET Q q 0 0 0 rg BT 96.19 267.65 Td (the ) Tj ET Q q 0 0 0 rg BT 110.88 267.65 Td (history ) Tj ET Q q 0 0 0 rg BT 139.56 267.65 Td (of ) Tj ET Q q 0 0 0 rg BT 149.25 267.65 Td (the ) Tj ET Q q 0 0 0 rg BT 163.94 267.65 Td (taxable ) Tj ET Q q 0 0 0 rg BT 195.14 267.65 Td (profits ) Tj ET Q q 0 0 0 rg BT 221.82 267.65 Td (and ) Tj ET Q q 0 0 0 rg BT 239.02 267.65 Td (availability ) Tj ET Q q 0 0 0 rg BT 282.71 267.65 Td (of ) Tj ET Q q 0 0 0 rg BT 292.40 267.65 Td (tax ) Tj ET Q q 0 0 0 rg BT 306.58 267.65 Td (strategies. ) Tj ET Q q 0 0 0 rg BT 350.28 267.65 Td (Due ) Tj ET Q q 0 0 0 rg BT 368.97 267.65 Td (to ) Tj ET Q q 0 0 0 rg BT 378.65 267.65 Td (the ) Tj ET Q q 0 0 0 rg BT 393.34 267.65 Td (uncertainty ) Tj ET Q q 0 0 0 rg BT 439.54 267.65 Td (and ) Tj ET Q q 0 0 0 rg BT 456.74 267.65 Td (the ) Tj ET Q q 0 0 0 rg BT 471.43 267.65 Td (variability ) Tj ET Q q 0 0 0 rg BT 511.12 267.65 Td (of ) Tj ET Q q 0 0 0 rg BT 520.80 267.65 Td (the ) Tj ET Q q 0 0 0 rg BT 535.49 267.65 Td (factors ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 254.15 Td (mentioned ) Tj ET Q q 0 0 0 rg BT 116.19 254.15 Td (above, ) Tj ET Q q 0 0 0 rg BT 145.87 254.15 Td (deferred ) Tj ET Q q 0 0 0 rg BT 182.05 254.15 Td (tax ) Tj ET Q q 0 0 0 rg BT 196.72 254.15 Td (asset ) Tj ET Q q 0 0 0 rg BT 220.89 254.15 Td (are ) Tj ET Q q 0 0 0 rg BT 236.56 254.15 Td (subject ) Tj ET Q q 0 0 0 rg BT 267.74 254.15 Td (to ) Tj ET Q q 0 0 0 rg BT 277.90 254.15 Td (change. ) Tj ET Q q 0 0 0 rg BT 312.59 254.15 Td (Management ) Tj ET Q q 0 0 0 rg BT 367.79 254.15 Td (reviews ) Tj ET Q q 0 0 0 rg BT 400.95 254.15 Td (its ) Tj ET Q q 0 0 0 rg BT 412.61 254.15 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 465.80 254.15 Td (on ) Tj ET Q q 0 0 0 rg BT 478.47 254.15 Td (a ) Tj ET Q q 0 0 0 rg BT 486.14 254.15 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 523.81 254.15 Td (basis ) Tj ET Q q 0 0 0 rg BT 547.48 254.15 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 240.65 Td (adjusts ) Tj ET Q q 0 0 0 rg BT 102.52 240.65 Td (the ) Tj ET Q q 0 0 0 rg BT 117.53 240.65 Td (deferred ) Tj ET Q q 0 0 0 rg BT 153.55 240.65 Td (tax ) Tj ET Q q 0 0 0 rg BT 168.06 240.65 Td (assets ) Tj ET Q q 0 0 0 rg BT 196.57 240.65 Td (when ) Tj ET Q q 0 0 0 rg BT 220.58 240.65 Td (appropriate. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 221.15 Td (The ) Tj ET Q q 0 0 0 rg BT 88.80 221.15 Td (Company ) Tj ET Q q 0 0 0 rg BT 129.11 221.15 Td (is ) Tj ET Q q 0 0 0 rg BT 137.40 221.15 Td (subject ) Tj ET Q q 0 0 0 rg BT 167.71 221.15 Td (to ) Tj ET Q q 0 0 0 rg BT 177.01 221.15 Td (taxation ) Tj ET Q q 0 0 0 rg BT 210.32 221.15 Td (in ) Tj ET Q q 0 0 0 rg BT 219.12 221.15 Td (numerous ) Tj ET Q q 0 0 0 rg BT 260.94 221.15 Td (jurisdictions ) Tj ET Q q 0 0 0 rg BT 309.75 221.15 Td (and ) Tj ET Q q 0 0 0 rg BT 326.55 221.15 Td (there ) Tj ET Q q 0 0 0 rg BT 348.86 221.15 Td (are ) Tj ET Q q 0 0 0 rg BT 363.66 221.15 Td (transactions ) Tj ET Q q 0 0 0 rg BT 413.98 221.15 Td (and ) Tj ET Q q 0 0 0 rg BT 430.79 221.15 Td (calculations ) Tj ET Q q 0 0 0 rg BT 479.60 221.15 Td (for ) Tj ET Q q 0 0 0 rg BT 491.90 221.15 Td (which ) Tj ET Q q 0 0 0 rg BT 516.70 221.15 Td (the ) Tj ET Q q 0 0 0 rg BT 531.01 221.15 Td (ultimate ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 207.65 Td (tax ) Tj ET Q q 0 0 0 rg BT 86.23 207.65 Td (determination ) Tj ET Q q 0 0 0 rg BT 143.49 207.65 Td (is ) Tj ET Q q 0 0 0 rg BT 152.72 207.65 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 192.47 207.65 Td (which ) Tj ET Q q 0 0 0 rg BT 218.20 207.65 Td (occurs ) Tj ET Q q 0 0 0 rg BT 247.44 207.65 Td (when ) Tj ET Q q 0 0 0 rg BT 271.68 207.65 Td (there ) Tj ET Q q 0 0 0 rg BT 294.92 207.65 Td (is ) Tj ET Q q 0 0 0 rg BT 304.15 207.65 Td (uncertainty ) Tj ET Q q 0 0 0 rg BT 350.90 207.65 Td (as ) Tj ET Q q 0 0 0 rg BT 363.13 207.65 Td (to ) Tj ET Q q 0 0 0 rg BT 373.36 207.65 Td (the ) Tj ET Q q 0 0 0 rg BT 388.60 207.65 Td (meaning ) Tj ET Q q 0 0 0 rg BT 425.85 207.65 Td (of ) Tj ET Q q 0 0 0 rg BT 436.08 207.65 Td (the ) Tj ET Q q 0 0 0 rg BT 451.32 207.65 Td (law) Tj ET Q q 0 0 0 rg BT 464.33 207.65 Td (, ) Tj ET Q q 0 0 0 rg BT 469.55 207.65 Td (or ) Tj ET Q q 0 0 0 rg BT 480.28 207.65 Td (to ) Tj ET Q q 0 0 0 rg BT 490.52 207.65 Td (the ) Tj ET Q q 0 0 0 rg BT 505.75 207.65 Td (applicability ) Tj ET Q q 0 0 0 rg BT 555.01 207.65 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 194.15 Td (the ) Tj ET Q q 0 0 0 rg BT 86.17 194.15 Td (law ) Tj ET Q q 0 0 0 rg BT 101.84 194.15 Td (to ) Tj ET Q q 0 0 0 rg BT 111.51 194.15 Td (a ) Tj ET Q q 0 0 0 rg BT 118.68 194.15 Td (particular ) Tj ET Q q 0 0 0 rg BT 157.86 194.15 Td (transaction ) Tj ET Q q 0 0 0 rg BT 204.05 194.15 Td (or ) Tj ET Q q 0 0 0 rg BT 214.21 194.15 Td (both. ) Tj ET Q q 0 0 0 rg BT 236.39 194.15 Td (In ) Tj ET Q q 0 0 0 rg BT 246.06 194.15 Td (those ) Tj ET Q q 0 0 0 rg BT 270.24 194.15 Td (circumstances, ) Tj ET Q q 0 0 0 rg BT 332.42 194.15 Td (the ) Tj ET Q q 0 0 0 rg BT 347.10 194.15 Td (Company ) Tj ET Q q 0 0 0 rg BT 387.78 194.15 Td (might ) Tj ET Q q 0 0 0 rg BT 411.95 194.15 Td (review ) Tj ET Q q 0 0 0 rg BT 440.12 194.15 Td (administrative ) Tj ET Q q 0 0 0 rg BT 497.81 194.15 Td (practice, ) Tj ET Q q 0 0 0 rg BT 533.98 194.15 Td (consult ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 180.65 Td (tax ) Tj ET Q q 0 0 0 rg BT 86.10 180.65 Td (authorities ) Tj ET Q q 0 0 0 rg BT 130.22 180.65 Td (or ) Tj ET Q q 0 0 0 rg BT 140.82 180.65 Td (advisors ) Tj ET Q q 0 0 0 rg BT 176.93 180.65 Td (on ) Tj ET Q q 0 0 0 rg BT 189.54 180.65 Td (the ) Tj ET Q q 0 0 0 rg BT 204.65 180.65 Td (interpretation ) Tj ET Q q 0 0 0 rg BT 259.78 180.65 Td (of ) Tj ET Q q 0 0 0 rg BT 269.88 180.65 Td (tax ) Tj ET Q q 0 0 0 rg BT 284.49 180.65 Td (legislation. ) Tj ET Q q 0 0 0 rg BT 329.61 180.65 Td (When ) Tj ET Q q 0 0 0 rg BT 355.72 180.65 Td (a ) Tj ET Q q 0 0 0 rg BT 363.32 180.65 Td (tax ) Tj ET Q q 0 0 0 rg BT 377.92 180.65 Td (position ) Tj ET Q q 0 0 0 rg BT 411.54 180.65 Td (is ) Tj ET Q q 0 0 0 rg BT 420.64 180.65 Td (uncertain, ) Tj ET Q q 0 0 0 rg BT 462.76 180.65 Td (the ) Tj ET Q q 0 0 0 rg BT 477.87 180.65 Td (Company ) Tj ET Q q 0 0 0 rg BT 518.98 180.65 Td (recognizes ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 167.15 Td (an ) Tj ET Q q 0 0 0 rg BT 83.50 167.15 Td (income ) Tj ET Q q 0 0 0 rg BT 114.50 167.15 Td (tax ) Tj ET Q q 0 0 0 rg BT 128.50 167.15 Td (benefit ) Tj ET Q q 0 0 0 rg BT 157.51 167.15 Td (or ) Tj ET Q q 0 0 0 rg BT 167.50 167.15 Td (reduces ) Tj ET Q q 0 0 0 rg BT 201.50 167.15 Td (an ) Tj ET Q q 0 0 0 rg BT 213.50 167.15 Td (income ) Tj ET Q q 0 0 0 rg BT 244.51 167.15 Td (tax ) Tj ET Q q 0 0 0 rg BT 258.50 167.15 Td (liability ) Tj ET Q q 0 0 0 rg BT 287.50 167.15 Td (only ) Tj ET Q q 0 0 0 rg BT 306.00 167.15 Td (when ) Tj ET Q q 0 0 0 rg BT 329.50 167.15 Td (it ) Tj ET Q q 0 0 0 rg BT 335.99 167.15 Td (is ) Tj ET Q q 0 0 0 rg BT 344.48 167.15 Td (probable ) Tj ET Q q 0 0 0 rg BT 381.50 167.15 Td (that ) Tj ET Q q 0 0 0 rg BT 398.50 167.15 Td (the ) Tj ET Q q 0 0 0 rg BT 413.00 167.15 Td (tax ) Tj ET Q q 0 0 0 rg BT 426.99 167.15 Td (benefit ) Tj ET Q q 0 0 0 rg BT 456.00 167.15 Td (will ) Tj ET Q q 0 0 0 rg BT 470.49 167.15 Td (be ) Tj ET Q q 0 0 0 rg BT 482.49 167.15 Td (realized ) Tj ET Q q 0 0 0 rg BT 515.99 167.15 Td (in ) Tj ET Q q 0 0 0 rg BT 524.99 167.15 Td (the ) Tj ET Q q 0 0 0 rg BT 539.49 167.15 Td (future ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 153.65 Td (or ) Tj ET Q q 0 0 0 rg BT 82.00 153.65 Td (that ) Tj ET Q q 0 0 0 rg BT 99.51 153.65 Td (the ) Tj ET Q q 0 0 0 rg BT 114.51 153.65 Td (income ) Tj ET Q q 0 0 0 rg BT 146.02 153.65 Td (tax ) Tj ET Q q 0 0 0 rg BT 160.52 153.65 Td (liability ) Tj ET Q q 0 0 0 rg BT 190.03 153.65 Td (is ) Tj ET Q q 0 0 0 rg BT 199.02 153.65 Td (no ) Tj ET Q q 0 0 0 rg BT 211.53 153.65 Td (longer ) Tj ET Q q 0 0 0 rg BT 239.04 153.65 Td (probable. ) Tj ET Q q 0 0 0 rg BT 278.90 153.65 Td (The ) Tj ET Q q 0 0 0 rg BT 296.91 153.65 Td (provision ) Tj ET Q q 0 0 0 rg BT 335.42 153.65 Td (for ) Tj ET Q q 0 0 0 rg BT 348.42 153.65 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 387.94 153.65 Td (tax ) Tj ET Q q 0 0 0 rg BT 402.44 153.65 Td (position ) Tj ET Q q 0 0 0 rg BT 435.96 153.65 Td (is ) Tj ET Q q 0 0 0 rg BT 444.95 153.65 Td (made ) Tj ET Q q 0 0 0 rg BT 469.96 153.65 Td (using ) Tj ET Q q 0 0 0 rg BT 493.97 153.65 Td (the ) Tj ET Q q 0 0 0 rg BT 508.98 153.65 Td (best ) Tj ET Q q 0 0 0 rg BT 528.49 153.65 Td (estimate ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 140.15 Td (of ) Tj ET Q q 0 0 0 rg BT 80.93 140.15 Td (the ) Tj ET Q q 0 0 0 rg BT 95.36 140.15 Td (amount ) Tj ET Q q 0 0 0 rg BT 127.30 140.15 Td (expected ) Tj ET Q q 0 0 0 rg BT 165.75 140.15 Td (to ) Tj ET Q q 0 0 0 rg BT 175.17 140.15 Td (be ) Tj ET Q q 0 0 0 rg BT 187.10 140.15 Td (paid ) Tj ET Q q 0 0 0 rg BT 206.04 140.15 Td (based ) Tj ET Q q 0 0 0 rg BT 232.48 140.15 Td (on ) Tj ET Q q 0 0 0 rg BT 244.41 140.15 Td (qualitative ) Tj ET Q q 0 0 0 rg BT 286.86 140.15 Td (assessment ) Tj ET Q q 0 0 0 rg BT 336.80 140.15 Td (of ) Tj ET Q q 0 0 0 rg BT 346.22 140.15 Td (all ) Tj ET Q q 0 0 0 rg BT 357.15 140.15 Td (relevant ) Tj ET Q q 0 0 0 rg BT 391.09 140.15 Td (factors ) Tj ET Q q 0 0 0 rg BT 420.02 140.15 Td (and ) Tj ET Q q 0 0 0 rg BT 436.95 140.15 Td (is ) Tj ET Q q 0 0 0 rg BT 445.37 140.15 Td (subject ) Tj ET Q q 0 0 0 rg BT 475.81 140.15 Td (to ) Tj ET Q q 0 0 0 rg BT 485.24 140.15 Td (change. ) Tj ET Q q 0 0 0 rg BT 519.06 140.15 Td (The ) Tj ET Q q 0 0 0 rg BT 536.49 140.15 Td (review ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 126.65 Td (of ) Tj ET Q q 0 0 0 rg BT 81.51 126.65 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 134.53 126.65 Td (is ) Tj ET Q q 0 0 0 rg BT 143.53 126.65 Td (done ) Tj ET Q q 0 0 0 rg BT 166.05 126.65 Td (on ) Tj ET Q q 0 0 0 rg BT 178.56 126.65 Td (a ) Tj ET Q q 0 0 0 rg BT 186.07 126.65 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 223.59 126.65 Td (basis.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 100.56679687500002 m 155.044921875 100.56679687500002 l s q 0 0 0 rg BT 73.50 101.85 Td (Litigation ) Tj ET Q q 0 0 0 rg BT 112.03 101.85 Td (and ) Tj ET Q q 0 0 0 rg BT 129.54 101.85 Td (claims) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 85.35 Td (Provisions ) Tj ET Q q 0 0 0 rg BT 115.65 85.35 Td (are ) Tj ET Q q 0 0 0 rg BT 131.29 85.35 Td (recognized ) Tj ET Q q 0 0 0 rg BT 177.95 85.35 Td (when ) Tj ET Q q 0 0 0 rg BT 202.09 85.35 Td (the ) Tj ET Q q 0 0 0 rg BT 217.24 85.35 Td (Company ) Tj ET Q q 0 0 0 rg BT 258.38 85.35 Td (has ) Tj ET Q q 0 0 0 rg BT 275.53 85.35 Td (a ) Tj ET Q q 0 0 0 rg BT 283.16 85.35 Td (present ) Tj ET Q q 0 0 0 rg BT 315.81 85.35 Td (legal ) Tj ET Q q 0 0 0 rg BT 337.46 85.35 Td (or ) Tj ET Q q 0 0 0 rg BT 348.09 85.35 Td (constructive ) Tj ET Q q 0 0 0 rg BT 398.74 85.35 Td (obligation ) Tj ET Q q 0 0 0 rg BT 439.91 85.35 Td (as ) Tj ET Q q 0 0 0 rg BT 452.04 85.35 Td (a ) Tj ET Q q 0 0 0 rg BT 459.68 85.35 Td (result ) Tj ET Q q 0 0 0 rg BT 484.32 85.35 Td (of ) Tj ET Q q 0 0 0 rg BT 494.46 85.35 Td (a ) Tj ET Q q 0 0 0 rg BT 502.09 85.35 Td (past ) Tj ET Q q 0 0 0 rg BT 521.74 85.35 Td (event, ) Tj ET Q q 0 0 0 rg BT 548.88 85.35 Td (it ) Tj ET Q q 0 0 0 rg BT 556.02 85.35 Td (is ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 71.85 Td (probable ) Tj ET Q q 0 0 0 rg BT 109.68 71.85 Td (that ) Tj ET Q q 0 0 0 rg BT 127.84 71.85 Td (an ) Tj ET Q q 0 0 0 rg BT 141.01 71.85 Td (outflow ) Tj ET Q q 0 0 0 rg BT 172.67 71.85 Td (of ) Tj ET Q q 0 0 0 rg BT 183.33 71.85 Td (resources ) Tj ET Q q 0 0 0 rg BT 226.00 71.85 Td (embodying ) Tj ET Q q 0 0 0 rg BT 273.18 71.85 Td (economic ) Tj ET Q q 0 0 0 rg BT 314.85 71.85 Td (benefits ) Tj ET Q q 0 0 0 rg BT 349.52 71.85 Td (will ) Tj ET Q q 0 0 0 rg BT 365.17 71.85 Td (be ) Tj ET Q q 0 0 0 rg BT 378.33 71.85 Td (required ) Tj ET Q q 0 0 0 rg BT 414.50 71.85 Td (to ) Tj ET Q q 0 0 0 rg BT 425.16 71.85 Td (settle ) Tj ET Q q 0 0 0 rg BT 449.82 71.85 Td (the ) Tj ET Q q 0 0 0 rg BT 465.49 71.85 Td (obligation ) Tj ET Q q 0 0 0 rg BT 507.17 71.85 Td (and ) Tj ET Q q 0 0 0 rg BT 525.34 71.85 Td (a ) Tj ET Q q 0 0 0 rg BT 533.49 71.85 Td (reliable ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 58.35 Td (estimate ) Tj ET Q q 0 0 0 rg BT 107.51 58.35 Td (can ) Tj ET Q q 0 0 0 rg BT 124.01 58.35 Td (be ) Tj ET Q q 0 0 0 rg BT 136.01 58.35 Td (made ) Tj ET Q q 0 0 0 rg BT 160.52 58.35 Td (of ) Tj ET Q q 0 0 0 rg BT 170.02 58.35 Td (the ) Tj ET Q q 0 0 0 rg BT 184.52 58.35 Td (amount ) Tj ET Q q 0 0 0 rg BT 216.53 58.35 Td (of ) Tj ET Q q 0 0 0 rg BT 226.03 58.35 Td (the ) Tj ET Q q 0 0 0 rg BT 240.54 58.35 Td (obligation. ) Tj ET Q q 0 0 0 rg BT 283.43 58.35 Td (The ) Tj ET Q q 0 0 0 rg BT 300.93 58.35 Td (accrued ) Tj ET Q q 0 0 0 rg BT 334.94 58.35 Td (litigation ) Tj ET Q q 0 0 0 rg BT 369.96 58.35 Td (and ) Tj ET Q q 0 0 0 rg BT 386.96 58.35 Td (legal ) Tj ET Q q 0 0 0 rg BT 407.97 58.35 Td (claim ) Tj ET Q q 0 0 0 rg BT 430.97 58.35 Td (provisions ) Tj ET Q q 0 0 0 rg BT 473.48 58.35 Td (are ) Tj ET Q q 0 0 0 rg BT 488.48 58.35 Td (based ) Tj ET Q q 0 0 0 rg BT 514.99 58.35 Td (on ) Tj ET Q q 0 0 0 rg BT 526.99 58.35 Td (historical ) Tj ET Q endstream endobj 93 0 obj <> endobj 94 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (45) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 708.95 Td (experience, ) Tj ET Q q 0 0 0 rg BT 121.15 708.95 Td (current ) Tj ET Q q 0 0 0 rg BT 152.27 708.95 Td (trends ) Tj ET Q q 0 0 0 rg BT 180.40 708.95 Td (and ) Tj ET Q q 0 0 0 rg BT 198.53 708.95 Td (other ) Tj ET Q q 0 0 0 rg BT 222.16 708.95 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 275.80 708.95 Td (that ) Tj ET Q q 0 0 0 rg BT 293.93 708.95 Td (are ) Tj ET Q q 0 0 0 rg BT 310.05 708.95 Td (believed ) Tj ET Q q 0 0 0 rg BT 346.69 708.95 Td (to ) Tj ET Q q 0 0 0 rg BT 357.32 708.95 Td (be ) Tj ET Q q 0 0 0 rg BT 370.44 708.95 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 418.09 708.95 Td (under ) Tj ET Q q 0 0 0 rg BT 444.23 708.95 Td (the ) Tj ET Q q 0 0 0 rg BT 459.85 708.95 Td (circumstances. ) Tj ET Q q 0 0 0 rg BT 522.99 708.95 Td (Estimates ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 695.45 Td (include ) Tj ET Q q 0 0 0 rg BT 101.53 695.45 Td (the ) Tj ET Q q 0 0 0 rg BT 115.55 695.45 Td (period ) Tj ET Q q 0 0 0 rg BT 142.08 695.45 Td (in ) Tj ET Q q 0 0 0 rg BT 150.60 695.45 Td (which ) Tj ET Q q 0 0 0 rg BT 175.12 695.45 Td (the ) Tj ET Q q 0 0 0 rg BT 189.14 695.45 Td (underlying ) Tj ET Q q 0 0 0 rg BT 232.18 695.45 Td (cause ) Tj ET Q q 0 0 0 rg BT 257.70 695.45 Td (of ) Tj ET Q q 0 0 0 rg BT 266.72 695.45 Td (the ) Tj ET Q q 0 0 0 rg BT 280.74 695.45 Td (claim ) Tj ET Q q 0 0 0 rg BT 303.25 695.45 Td (occurred ) Tj ET Q q 0 0 0 rg BT 339.78 695.45 Td (and ) Tj ET Q q 0 0 0 rg BT 356.30 695.45 Td (the ) Tj ET Q q 0 0 0 rg BT 370.33 695.45 Td (degree ) Tj ET Q q 0 0 0 rg BT 399.86 695.45 Td (of ) Tj ET Q q 0 0 0 rg BT 408.88 695.45 Td (probability ) Tj ET Q q 0 0 0 rg BT 451.41 695.45 Td (of ) Tj ET Q q 0 0 0 rg BT 460.42 695.45 Td (an ) Tj ET Q q 0 0 0 rg BT 471.95 695.45 Td (unfavourable ) Tj ET Q q 0 0 0 rg BT 525.50 695.45 Td (outcome. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 681.95 Td (Management ) Tj ET Q q 0 0 0 rg BT 127.59 681.95 Td (reviews ) Tj ET Q q 0 0 0 rg BT 161.65 681.95 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 215.73 681.95 Td (and ) Tj ET Q q 0 0 0 rg BT 234.30 681.95 Td (facts ) Tj ET Q q 0 0 0 rg BT 256.86 681.95 Td (surrounding ) Tj ET Q q 0 0 0 rg BT 307.94 681.95 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 358.03 681.95 Td (litigation ) Tj ET Q q 0 0 0 rg BT 394.61 681.95 Td (and ) Tj ET Q q 0 0 0 rg BT 413.18 681.95 Td (claims ) Tj ET Q q 0 0 0 rg BT 442.23 681.95 Td (on ) Tj ET Q q 0 0 0 rg BT 455.80 681.95 Td (a ) Tj ET Q q 0 0 0 rg BT 464.36 681.95 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 502.93 681.95 Td (basis, ) Tj ET Q q 0 0 0 rg BT 529.99 681.95 Td (involves ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 668.45 Td (external ) Tj ET Q q 0 0 0 rg BT 106.34 668.45 Td (counsel ) Tj ET Q q 0 0 0 rg BT 140.18 668.45 Td (when ) Tj ET Q q 0 0 0 rg BT 164.51 668.45 Td (necessary ) Tj ET Q q 0 0 0 rg BT 208.35 668.45 Td (and ) Tj ET Q q 0 0 0 rg BT 226.18 668.45 Td (adjusts ) Tj ET Q q 0 0 0 rg BT 257.51 668.45 Td (the ) Tj ET Q q 0 0 0 rg BT 272.84 668.45 Td (provision ) Tj ET Q q 0 0 0 rg BT 311.68 668.45 Td (accordingly) Tj ET Q q 0 0 0 rg BT 356.53 668.45 Td (. ) Tj ET Q q 0 0 0 rg BT 361.67 668.45 Td (The ) Tj ET Q q 0 0 0 rg BT 379.99 668.45 Td (Company ) Tj ET Q q 0 0 0 rg BT 421.33 668.45 Td (has ) Tj ET Q q 0 0 0 rg BT 438.66 668.45 Td (to ) Tj ET Q q 0 0 0 rg BT 448.98 668.45 Td (be ) Tj ET Q q 0 0 0 rg BT 461.81 668.45 Td (compliant ) Tj ET Q q 0 0 0 rg BT 503.15 668.45 Td (with ) Tj ET Q q 0 0 0 rg BT 521.97 668.45 Td (applicable ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 654.95 Td (law ) Tj ET Q q 0 0 0 rg BT 87.56 654.95 Td (in ) Tj ET Q q 0 0 0 rg BT 97.11 654.95 Td (many ) Tj ET Q q 0 0 0 rg BT 121.67 654.95 Td (jurisdictions ) Tj ET Q q 0 0 0 rg BT 171.24 654.95 Td (which ) Tj ET Q q 0 0 0 rg BT 196.80 654.95 Td (increases ) Tj ET Q q 0 0 0 rg BT 237.87 654.95 Td (the ) Tj ET Q q 0 0 0 rg BT 252.93 654.95 Td (complexity ) Tj ET Q q 0 0 0 rg BT 297.99 654.95 Td (of ) Tj ET Q q 0 0 0 rg BT 308.05 654.95 Td (determining ) Tj ET Q q 0 0 0 rg BT 357.63 654.95 Td (adequate ) Tj ET Q q 0 0 0 rg BT 397.71 654.95 Td (provision ) Tj ET Q q 0 0 0 rg BT 436.28 654.95 Td (following ) Tj ET Q q 0 0 0 rg BT 473.85 654.95 Td (litigation ) Tj ET Q q 0 0 0 rg BT 509.42 654.95 Td (review) Tj ET Q q 0 0 0 rg BT 534.94 654.95 Td (. ) Tj ET Q q 0 0 0 rg BT 539.99 654.95 Td (Since ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 641.45 Td (the ) Tj ET Q q 0 0 0 rg BT 86.16 641.45 Td (outcome ) Tj ET Q q 0 0 0 rg BT 122.83 641.45 Td (of ) Tj ET Q q 0 0 0 rg BT 132.48 641.45 Td (such ) Tj ET Q q 0 0 0 rg BT 153.64 641.45 Td (litigation ) Tj ET Q q 0 0 0 rg BT 188.80 641.45 Td (and ) Tj ET Q q 0 0 0 rg BT 205.97 641.45 Td (claims ) Tj ET Q q 0 0 0 rg BT 233.62 641.45 Td (are ) Tj ET Q q 0 0 0 rg BT 248.77 641.45 Td (not ) Tj ET Q q 0 0 0 rg BT 263.43 641.45 Td (predictable, ) Tj ET Q q 0 0 0 rg BT 312.11 641.45 Td (those ) Tj ET Q q 0 0 0 rg BT 336.27 641.45 Td (provisions ) Tj ET Q q 0 0 0 rg BT 378.94 641.45 Td (are ) Tj ET Q q 0 0 0 rg BT 394.09 641.45 Td (subject ) Tj ET Q q 0 0 0 rg BT 424.76 641.45 Td (to ) Tj ET Q q 0 0 0 rg BT 434.41 641.45 Td (change. ) Tj ET Q q 0 0 0 rg BT 468.16 641.45 Td (Adjustments ) Tj ET Q q 0 0 0 rg BT 519.83 641.45 Td (to ) Tj ET Q q 0 0 0 rg BT 529.48 641.45 Td (litigation ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 627.95 Td (and ) Tj ET Q q 0 0 0 rg BT 89.02 627.95 Td (claims ) Tj ET Q q 0 0 0 rg BT 117.02 627.95 Td (provision ) Tj ET Q q 0 0 0 rg BT 155.54 627.95 Td (are ) Tj ET Q q 0 0 0 rg BT 171.04 627.95 Td (reflected ) Tj ET Q q 0 0 0 rg BT 208.06 627.95 Td (in ) Tj ET Q q 0 0 0 rg BT 217.57 627.95 Td (the ) Tj ET Q q 0 0 0 rg BT 232.58 627.95 Td (period ) Tj ET Q q 0 0 0 rg BT 260.10 627.95 Td (when ) Tj ET Q q 0 0 0 rg BT 284.12 627.95 Td (the ) Tj ET Q q 0 0 0 rg BT 299.13 627.95 Td (facts ) Tj ET Q q 0 0 0 rg BT 320.63 627.95 Td (that ) Tj ET Q q 0 0 0 rg BT 338.15 627.95 Td (give ) Tj ET Q q 0 0 0 rg BT 357.16 627.95 Td (rise ) Tj ET Q q 0 0 0 rg BT 374.16 627.95 Td (to ) Tj ET Q q 0 0 0 rg BT 384.17 627.95 Td (an ) Tj ET Q q 0 0 0 rg BT 396.68 627.95 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 443.20 627.95 Td (occur) Tj ET Q q 0 0 0 rg BT 464.71 627.95 Td (.) Tj ET Q endstream endobj 95 0 obj <> endobj 96 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (46) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 49.50 706.80 Td (9. ) Tj ET Q q 0 0 0 rg BT 72.00 706.80 Td (Integrity of Disclosure) Tj ET Q 0 0 0 RG /GS0 gs 1.50 w 0 i [] 0 d 0 J 0 j 3 M 57.5 694.3 m 57.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 690.3 m 57.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 57.5 690.3 m 142.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 142.5 690.3 m 228.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 228.5 690.3 m 337.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 690.3 m 475.5 690.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 690.3 m 561.5 690.3 l s 0 0 0 RG /GS0 gs 1.50 w 0 i [] 0 d 0 J 0 j 3 M 57.5 690.3 m 57.5 686.3 l s BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 658.30 Td (Our ) Tj ET Q q 0 0 0 rg BT 89.63 658.30 Td (management ) Tj ET Q q 0 0 0 rg BT 144.79 658.30 Td (assumes ) Tj ET Q q 0 0 0 rg BT 183.43 658.30 Td (the ) Tj ET Q q 0 0 0 rg BT 198.57 658.30 Td (responsibility ) Tj ET Q q 0 0 0 rg BT 253.21 658.30 Td (for ) Tj ET Q q 0 0 0 rg BT 266.34 658.30 Td (the ) Tj ET Q q 0 0 0 rg BT 281.48 658.30 Td (existence ) Tj ET Q q 0 0 0 rg BT 322.13 658.30 Td (of ) Tj ET Q q 0 0 0 rg BT 332.26 658.30 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 380.42 658.30 Td (information ) Tj ET Q q 0 0 0 rg BT 427.57 658.30 Td (systems, ) Tj ET Q q 0 0 0 rg BT 465.70 658.30 Td (procedures ) Tj ET Q q 0 0 0 rg BT 513.35 658.30 Td (and ) Tj ET Q q 0 0 0 rg BT 530.99 658.30 Td (controls ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 644.80 Td (to ) Tj ET Q q 0 0 0 rg BT 82.01 644.80 Td (ensure ) Tj ET Q q 0 0 0 rg BT 112.03 644.80 Td (that ) Tj ET Q q 0 0 0 rg BT 129.54 644.80 Td (information ) Tj ET Q q 0 0 0 rg BT 176.56 644.80 Td (used ) Tj ET Q q 0 0 0 rg BT 198.58 644.80 Td (internally ) Tj ET Q q 0 0 0 rg BT 237.09 644.80 Td (and ) Tj ET Q q 0 0 0 rg BT 254.61 644.80 Td (disclosed ) Tj ET Q q 0 0 0 rg BT 294.63 644.80 Td (externally ) Tj ET Q q 0 0 0 rg BT 335.65 644.80 Td (is ) Tj ET Q q 0 0 0 rg BT 344.65 644.80 Td (complete ) Tj ET Q q 0 0 0 rg BT 383.67 644.80 Td (and ) Tj ET Q q 0 0 0 rg BT 401.19 644.80 Td (reliable.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 625.30 Td (CGI ) Tj ET Q q 0 0 0 rg BT 91.22 625.30 Td (has ) Tj ET Q q 0 0 0 rg BT 108.95 625.30 Td (a ) Tj ET Q q 0 0 0 rg BT 117.17 625.30 Td (formal ) Tj ET Q q 0 0 0 rg BT 145.39 625.30 Td (corporate ) Tj ET Q q 0 0 0 rg BT 186.63 625.30 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 230.37 625.30 Td (policy ) Tj ET Q q 0 0 0 rg BT 256.60 625.30 Td (whose ) Tj ET Q q 0 0 0 rg BT 285.83 625.30 Td (goal ) Tj ET Q q 0 0 0 rg BT 306.07 625.30 Td (is ) Tj ET Q q 0 0 0 rg BT 315.78 625.30 Td (to ) Tj ET Q q 0 0 0 rg BT 326.51 625.30 Td (raise ) Tj ET Q q 0 0 0 rg BT 349.23 625.30 Td (awareness ) Tj ET Q q 0 0 0 rg BT 395.98 625.30 Td (of ) Tj ET Q q 0 0 0 rg BT 406.70 625.30 Td (the ) Tj ET Q q 0 0 0 rg BT 422.43 625.30 Td (Company) Tj ET Q q 0 0 0 rg BT 462.78 625.30 Td (s ) Tj ET Q q 0 0 0 rg BT 470.50 625.30 Td (approach ) Tj ET Q q 0 0 0 rg BT 511.25 625.30 Td (to ) Tj ET Q q 0 0 0 rg BT 521.97 625.30 Td (disclosure ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 611.80 Td (among ) Tj ET Q q 0 0 0 rg BT 102.02 611.80 Td (the ) Tj ET Q q 0 0 0 rg BT 117.03 611.80 Td (members ) Tj ET Q q 0 0 0 rg BT 157.04 611.80 Td (of ) Tj ET Q q 0 0 0 rg BT 167.04 611.80 Td (the ) Tj ET Q q 0 0 0 rg BT 182.06 611.80 Td (Board ) Tj ET Q q 0 0 0 rg BT 208.57 611.80 Td (of ) Tj ET Q q 0 0 0 rg BT 218.58 611.80 Td (Directors, ) Tj ET Q q 0 0 0 rg BT 259.58 611.80 Td (senior ) Tj ET Q q 0 0 0 rg BT 286.60 611.80 Td (management ) Tj ET Q q 0 0 0 rg BT 341.63 611.80 Td (and ) Tj ET Q q 0 0 0 rg BT 359.15 611.80 Td (employees.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 592.30 Td (The ) Tj ET Q q 0 0 0 rg BT 90.48 592.30 Td (Board ) Tj ET Q q 0 0 0 rg BT 117.46 592.30 Td (of ) Tj ET Q q 0 0 0 rg BT 127.94 592.30 Td (Directors ) Tj ET Q q 0 0 0 rg BT 166.91 592.30 Td (has ) Tj ET Q q 0 0 0 rg BT 184.39 592.30 Td (the ) Tj ET Q q 0 0 0 rg BT 199.87 592.30 Td (responsibility ) Tj ET Q q 0 0 0 rg BT 254.86 592.30 Td (under ) Tj ET Q q 0 0 0 rg BT 280.84 592.30 Td (its ) Tj ET Q q 0 0 0 rg BT 292.81 592.30 Td (charter ) Tj ET Q q 0 0 0 rg BT 323.79 592.30 Td (and ) Tj ET Q q 0 0 0 rg BT 341.78 592.30 Td (under ) Tj ET Q q 0 0 0 rg BT 367.76 592.30 Td (the ) Tj ET Q q 0 0 0 rg BT 383.24 592.30 Td (securities ) Tj ET Q q 0 0 0 rg BT 424.22 592.30 Td (laws ) Tj ET Q q 0 0 0 rg BT 445.20 592.30 Td (that ) Tj ET Q q 0 0 0 rg BT 463.18 592.30 Td (govern ) Tj ET Q q 0 0 0 rg BT 493.66 592.30 Td (CGI) Tj ET Q q 0 0 0 rg BT 511.50 592.30 Td (s ) Tj ET Q q 0 0 0 rg BT 518.97 592.30 Td (continuous ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 578.80 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 114.17 578.80 Td (obligations ) Tj ET Q q 0 0 0 rg BT 158.85 578.80 Td (to ) Tj ET Q q 0 0 0 rg BT 168.00 578.80 Td (oversee ) Tj ET Q q 0 0 0 rg BT 201.67 578.80 Td (CGI's ) Tj ET Q q 0 0 0 rg BT 225.54 578.80 Td (compliance ) Tj ET Q q 0 0 0 rg BT 272.71 578.80 Td (with ) Tj ET Q q 0 0 0 rg BT 290.37 578.80 Td (its ) Tj ET Q q 0 0 0 rg BT 301.02 578.80 Td (continuous ) Tj ET Q q 0 0 0 rg BT 346.20 578.80 Td (and ) Tj ET Q q 0 0 0 rg BT 362.86 578.80 Td (timely ) Tj ET Q q 0 0 0 rg BT 388.01 578.80 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 430.18 578.80 Td (obligations, ) Tj ET Q q 0 0 0 rg BT 477.36 578.80 Td (as ) Tj ET Q q 0 0 0 rg BT 488.52 578.80 Td (well ) Tj ET Q q 0 0 0 rg BT 505.67 578.80 Td (as ) Tj ET Q q 0 0 0 rg BT 516.82 578.80 Td (the ) Tj ET Q q 0 0 0 rg BT 530.99 578.80 Td (integrity ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 565.30 Td (of ) Tj ET Q q 0 0 0 rg BT 81.30 565.30 Td (the ) Tj ET Q q 0 0 0 rg BT 95.60 565.30 Td (Company's ) Tj ET Q q 0 0 0 rg BT 142.13 565.30 Td (internal ) Tj ET Q q 0 0 0 rg BT 173.45 565.30 Td (controls ) Tj ET Q q 0 0 0 rg BT 206.75 565.30 Td (and ) Tj ET Q q 0 0 0 rg BT 223.56 565.30 Td (management ) Tj ET Q q 0 0 0 rg BT 277.89 565.30 Td (information ) Tj ET Q q 0 0 0 rg BT 324.20 565.30 Td (systems. ) Tj ET Q q 0 0 0 rg BT 361.38 565.30 Td (The ) Tj ET Q q 0 0 0 rg BT 378.68 565.30 Td (Board ) Tj ET Q q 0 0 0 rg BT 404.49 565.30 Td (of ) Tj ET Q q 0 0 0 rg BT 413.79 565.30 Td (Directors ) Tj ET Q q 0 0 0 rg BT 451.59 565.30 Td (carries ) Tj ET Q q 0 0 0 rg BT 480.39 565.30 Td (out ) Tj ET Q q 0 0 0 rg BT 494.69 565.30 Td (this ) Tj ET Q q 0 0 0 rg BT 510.49 565.30 Td (responsibility ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 551.80 Td (mainly ) Tj ET Q q 0 0 0 rg BT 100.51 551.80 Td (through ) Tj ET Q q 0 0 0 rg BT 133.53 551.80 Td (its ) Tj ET Q q 0 0 0 rg BT 144.54 551.80 Td (Audit ) Tj ET Q q 0 0 0 rg BT 167.55 551.80 Td (and ) Tj ET Q q 0 0 0 rg BT 185.07 551.80 Td (Risk ) Tj ET Q q 0 0 0 rg BT 205.07 551.80 Td (Management ) Tj ET Q q 0 0 0 rg BT 260.10 551.80 Td (Committee.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 532.30 Td (The ) Tj ET Q q 0 0 0 rg BT 88.86 532.30 Td (Audit ) Tj ET Q q 0 0 0 rg BT 111.05 532.30 Td (and ) Tj ET Q q 0 0 0 rg BT 127.75 532.30 Td (Risk ) Tj ET Q q 0 0 0 rg BT 146.93 532.30 Td (Management ) Tj ET Q q 0 0 0 rg BT 201.14 532.30 Td (Committee ) Tj ET Q q 0 0 0 rg BT 246.33 532.30 Td (of ) Tj ET Q q 0 0 0 rg BT 255.52 532.30 Td (CGI ) Tj ET Q q 0 0 0 rg BT 273.20 532.30 Td (is ) Tj ET Q q 0 0 0 rg BT 281.38 532.30 Td (composed ) Tj ET Q q 0 0 0 rg BT 324.59 532.30 Td (entirely ) Tj ET Q q 0 0 0 rg BT 355.28 532.30 Td (of ) Tj ET Q q 0 0 0 rg BT 364.47 532.30 Td (independent ) Tj ET Q q 0 0 0 rg BT 415.70 532.30 Td (directors ) Tj ET Q q 0 0 0 rg BT 451.89 532.30 Td (who ) Tj ET Q q 0 0 0 rg BT 470.08 532.30 Td (meet ) Tj ET Q q 0 0 0 rg BT 491.77 532.30 Td (the ) Tj ET Q q 0 0 0 rg BT 505.96 532.30 Td (independence ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 518.80 Td (and ) Tj ET Q q 0 0 0 rg BT 89.98 518.80 Td (experience ) Tj ET Q q 0 0 0 rg BT 136.98 518.80 Td (requirements ) Tj ET Q q 0 0 0 rg BT 192.47 518.80 Td (of ) Tj ET Q q 0 0 0 rg BT 202.94 518.80 Td (National ) Tj ET Q q 0 0 0 rg BT 238.93 518.80 Td (Instrument ) Tj ET Q q 0 0 0 rg BT 284.41 518.80 Td (52-1) Tj ET Q q 0 0 0 rg BT 301.76 518.80 Td (10 ) Tj ET Q q 0 0 0 rg BT 314.74 518.80 Td (adopted ) Tj ET Q q 0 0 0 rg BT 350.23 518.80 Td (by ) Tj ET Q q 0 0 0 rg BT 362.71 518.80 Td (the ) Tj ET Q q 0 0 0 rg BT 378.19 518.80 Td (Canadian ) Tj ET Q q 0 0 0 rg BT 419.68 518.80 Td (Securities ) Tj ET Q q 0 0 0 rg BT 461.58 518.80 Td (Administrators ) Tj ET Q q 0 0 0 rg BT 522.06 518.80 Td (as ) Tj ET Q q 0 0 0 rg BT 534.53 518.80 Td (well ) Tj ET Q q 0 0 0 rg BT 553.00 518.80 Td (as ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 505.30 Td (those ) Tj ET Q q 0 0 0 rg BT 98.53 505.30 Td (of ) Tj ET Q q 0 0 0 rg BT 110.56 505.30 Td (the ) Tj ET Q q 0 0 0 rg BT 127.59 505.30 Td (New ) Tj ET Q q 0 0 0 rg BT 149.82 505.30 Td (Y) Tj ET Q q 0 0 0 rg BT 154.99 505.30 Td (ork ) Tj ET Q q 0 0 0 rg BT 172.01 505.30 Td (Stock ) Tj ET Q q 0 0 0 rg BT 199.04 505.30 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 243.59 505.30 Td (\("NYSE"\) ) Tj ET Q q 0 0 0 rg BT 285.00 505.30 Td (and ) Tj ET Q q 0 0 0 rg BT 304.53 505.30 Td (the ) Tj ET Q q 0 0 0 rg BT 321.56 505.30 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 343.58 505.30 Td (Securities ) Tj ET Q q 0 0 0 rg BT 387.62 505.30 Td (and ) Tj ET Q q 0 0 0 rg BT 407.15 505.30 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 451.70 505.30 Td (Commission. ) Tj ET Q q 0 0 0 rg BT 507.93 505.30 Td (The ) Tj ET Q q 0 0 0 rg BT 527.96 505.30 Td (role ) Tj ET Q q 0 0 0 rg BT 547.48 505.30 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 491.80 Td (responsibilities ) Tj ET Q q 0 0 0 rg BT 132.34 491.80 Td (of ) Tj ET Q q 0 0 0 rg BT 141.17 491.80 Td (the ) Tj ET Q q 0 0 0 rg BT 154.99 491.80 Td (Committee ) Tj ET Q q 0 0 0 rg BT 199.82 491.80 Td (include: ) Tj ET Q q 0 0 0 rg BT 232.16 491.80 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 244.47 491.80 Td (reviewing ) Tj ET Q q 0 0 0 rg BT 283.81 491.80 Td (all ) Tj ET Q q 0 0 0 rg BT 294.13 491.80 Td (public ) Tj ET Q q 0 0 0 rg BT 318.96 491.80 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 360.79 491.80 Td (documents ) Tj ET Q q 0 0 0 rg BT 406.13 491.80 Td (containing ) Tj ET Q q 0 0 0 rg BT 448.48 491.80 Td (audited ) Tj ET Q q 0 0 0 rg BT 479.33 491.80 Td (or ) Tj ET Q q 0 0 0 rg BT 488.64 491.80 Td (unaudited ) Tj ET Q q 0 0 0 rg BT 529.50 491.80 Td (financial ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 478.30 Td (information ) Tj ET Q q 0 0 0 rg BT 118.56 478.30 Td (concerning ) Tj ET Q q 0 0 0 rg BT 164.64 478.30 Td (CGI; ) Tj ET Q q 0 0 0 rg BT 185.18 478.30 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 198.23 478.30 Td (identifying ) Tj ET Q q 0 0 0 rg BT 240.80 478.30 Td (and ) Tj ET Q q 0 0 0 rg BT 257.86 478.30 Td (examining ) Tj ET Q q 0 0 0 rg BT 300.92 478.30 Td (the ) Tj ET Q q 0 0 0 rg BT 315.48 478.30 Td (financial ) Tj ET Q q 0 0 0 rg BT 350.54 478.30 Td (and ) Tj ET Q q 0 0 0 rg BT 367.60 478.30 Td (operating ) Tj ET Q q 0 0 0 rg BT 407.18 478.30 Td (risks ) Tj ET Q q 0 0 0 rg BT 427.72 478.30 Td (to ) Tj ET Q q 0 0 0 rg BT 437.27 478.30 Td (which ) Tj ET Q q 0 0 0 rg BT 462.32 478.30 Td (the ) Tj ET Q q 0 0 0 rg BT 476.88 478.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 517.44 478.30 Td (is ) Tj ET Q q 0 0 0 rg BT 525.98 478.30 Td (exposed, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 464.80 Td (reviewing ) Tj ET Q q 0 0 0 rg BT 113.19 464.80 Td (the ) Tj ET Q q 0 0 0 rg BT 128.87 464.80 Td (various ) Tj ET Q q 0 0 0 rg BT 161.05 464.80 Td (policies ) Tj ET Q q 0 0 0 rg BT 194.24 464.80 Td (and ) Tj ET Q q 0 0 0 rg BT 212.43 464.80 Td (practices ) Tj ET Q q 0 0 0 rg BT 251.61 464.80 Td (of ) Tj ET Q q 0 0 0 rg BT 262.29 464.80 Td (the ) Tj ET Q q 0 0 0 rg BT 277.97 464.80 Td (Company ) Tj ET Q q 0 0 0 rg BT 319.66 464.80 Td (that ) Tj ET Q q 0 0 0 rg BT 337.84 464.80 Td (are ) Tj ET Q q 0 0 0 rg BT 354.02 464.80 Td (intended ) Tj ET Q q 0 0 0 rg BT 391.72 464.80 Td (to ) Tj ET Q q 0 0 0 rg BT 402.40 464.80 Td (manage ) Tj ET Q q 0 0 0 rg BT 438.09 464.80 Td (those ) Tj ET Q q 0 0 0 rg BT 463.28 464.80 Td (risks, ) Tj ET Q q 0 0 0 rg BT 487.45 464.80 Td (and ) Tj ET Q q 0 0 0 rg BT 505.64 464.80 Td (reporting ) Tj ET Q q 0 0 0 rg BT 544.33 464.80 Td (on ) Tj ET Q q 0 0 0 rg BT 557.51 464.80 Td (a ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 451.30 Td (regular ) Tj ET Q q 0 0 0 rg BT 102.52 451.30 Td (basis ) Tj ET Q q 0 0 0 rg BT 126.04 451.30 Td (to ) Tj ET Q q 0 0 0 rg BT 136.05 451.30 Td (the ) Tj ET Q q 0 0 0 rg BT 151.07 451.30 Td (Board ) Tj ET Q q 0 0 0 rg BT 177.59 451.30 Td (of ) Tj ET Q q 0 0 0 rg BT 187.61 451.30 Td (Directors ) Tj ET Q q 0 0 0 rg BT 226.12 451.30 Td (concerning ) Tj ET Q q 0 0 0 rg BT 272.65 451.30 Td (risk ) Tj ET Q q 0 0 0 rg BT 289.16 451.30 Td (management; ) Tj ET Q q 0 0 0 rg BT 346.70 451.30 Td (\(c\) ) Tj ET Q q 0 0 0 rg BT 359.70 451.30 Td (reviewing ) Tj ET Q q 0 0 0 rg BT 400.22 451.30 Td (and ) Tj ET Q q 0 0 0 rg BT 417.74 451.30 Td (assessing ) Tj ET Q q 0 0 0 rg BT 460.27 451.30 Td (the ) Tj ET Q q 0 0 0 rg BT 475.29 451.30 Td (ef) Tj ET Q q 0 0 0 rg BT 482.63 451.30 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 530.16 451.30 Td (of ) Tj ET Q q 0 0 0 rg BT 540.17 451.30 Td (CGI) Tj ET Q q 0 0 0 rg BT 558.01 451.30 Td (s ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 437.80 Td (accounting ) Tj ET Q q 0 0 0 rg BT 116.85 437.80 Td (policies ) Tj ET Q q 0 0 0 rg BT 148.18 437.80 Td (and ) Tj ET Q q 0 0 0 rg BT 164.51 437.80 Td (practices ) Tj ET Q q 0 0 0 rg BT 201.84 437.80 Td (concerning ) Tj ET Q q 0 0 0 rg BT 247.18 437.80 Td (financial ) Tj ET Q q 0 0 0 rg BT 281.52 437.80 Td (reporting; ) Tj ET Q q 0 0 0 rg BT 320.85 437.80 Td (\(d\) ) Tj ET Q q 0 0 0 rg BT 333.17 437.80 Td (reviewing ) Tj ET Q q 0 0 0 rg BT 372.50 437.80 Td (and ) Tj ET Q q 0 0 0 rg BT 388.83 437.80 Td (monitoring ) Tj ET Q q 0 0 0 rg BT 432.16 437.80 Td (CGI) Tj ET Q q 0 0 0 rg BT 450.00 437.80 Td (s ) Tj ET Q q 0 0 0 rg BT 455.82 437.80 Td (internal ) Tj ET Q q 0 0 0 rg BT 486.65 437.80 Td (control ) Tj ET Q q 0 0 0 rg BT 514.98 437.80 Td (procedures, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 424.30 Td (programs ) Tj ET Q q 0 0 0 rg BT 112.92 424.30 Td (and ) Tj ET Q q 0 0 0 rg BT 130.85 424.30 Td (policies ) Tj ET Q q 0 0 0 rg BT 163.78 424.30 Td (and ) Tj ET Q q 0 0 0 rg BT 181.70 424.30 Td (assessing ) Tj ET Q q 0 0 0 rg BT 224.63 424.30 Td (their ) Tj ET Q q 0 0 0 rg BT 245.05 424.30 Td (adequacy ) Tj ET Q q 0 0 0 rg BT 287.00 424.30 Td (and ) Tj ET Q q 0 0 0 rg BT 304.92 424.30 Td (ef) Tj ET Q q 0 0 0 rg BT 312.27 424.30 Td (fectiveness; ) Tj ET Q q 0 0 0 rg BT 362.70 424.30 Td (\(e\) ) Tj ET Q q 0 0 0 rg BT 376.61 424.30 Td (reviewing ) Tj ET Q q 0 0 0 rg BT 417.54 424.30 Td (the ) Tj ET Q q 0 0 0 rg BT 432.96 424.30 Td (adequacy ) Tj ET Q q 0 0 0 rg BT 474.90 424.30 Td (of ) Tj ET Q q 0 0 0 rg BT 485.32 424.30 Td (CGI) Tj ET Q q 0 0 0 rg BT 503.15 424.30 Td (s ) Tj ET Q q 0 0 0 rg BT 510.57 424.30 Td (internal ) Tj ET Q q 0 0 0 rg BT 542.99 424.30 Td (audit ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 410.80 Td (resources ) Tj ET Q q 0 0 0 rg BT 115.35 410.80 Td (including ) Tj ET Q q 0 0 0 rg BT 154.72 410.80 Td (the ) Tj ET Q q 0 0 0 rg BT 171.07 410.80 Td (mandate ) Tj ET Q q 0 0 0 rg BT 209.93 410.80 Td (and ) Tj ET Q q 0 0 0 rg BT 228.78 410.80 Td (objectives ) Tj ET Q q 0 0 0 rg BT 272.64 410.80 Td (of ) Tj ET Q q 0 0 0 rg BT 283.99 410.80 Td (the ) Tj ET Q q 0 0 0 rg BT 300.34 410.80 Td (internal ) Tj ET Q q 0 0 0 rg BT 333.69 410.80 Td (auditor; ) Tj ET Q q 0 0 0 rg BT 367.55 410.80 Td (\(f\) ) Tj ET Q q 0 0 0 rg BT 379.88 410.80 Td (recommending ) Tj ET Q q 0 0 0 rg BT 443.25 410.80 Td (to ) Tj ET Q q 0 0 0 rg BT 454.60 410.80 Td (the ) Tj ET Q q 0 0 0 rg BT 470.95 410.80 Td (Board ) Tj ET Q q 0 0 0 rg BT 498.80 410.80 Td (of ) Tj ET Q q 0 0 0 rg BT 510.14 410.80 Td (Directors ) Tj ET Q q 0 0 0 rg BT 549.99 410.80 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 397.30 Td (appointment ) Tj ET Q q 0 0 0 rg BT 123.84 397.30 Td (of ) Tj ET Q q 0 0 0 rg BT 133.65 397.30 Td (the ) Tj ET Q q 0 0 0 rg BT 148.46 397.30 Td (external ) Tj ET Q q 0 0 0 rg BT 182.78 397.30 Td (auditor) Tj ET Q q 0 0 0 rg BT 209.80 397.30 Td (, ) Tj ET Q q 0 0 0 rg BT 214.61 397.30 Td (asserting ) Tj ET Q q 0 0 0 rg BT 253.43 397.30 Td (the ) Tj ET Q q 0 0 0 rg BT 268.24 397.30 Td (external ) Tj ET Q q 0 0 0 rg BT 302.56 397.30 Td (auditor) Tj ET Q q 0 0 0 rg BT 330.42 397.30 Td () Tj ET Q q 0 0 0 rg BT 332.25 397.30 Td (s ) Tj ET Q q 0 0 0 rg BT 339.06 397.30 Td (independence, ) Tj ET Q q 0 0 0 rg BT 400.41 397.30 Td (reviewing ) Tj ET Q q 0 0 0 rg BT 440.73 397.30 Td (the ) Tj ET Q q 0 0 0 rg BT 455.55 397.30 Td (terms ) Tj ET Q q 0 0 0 rg BT 480.35 397.30 Td (of ) Tj ET Q q 0 0 0 rg BT 490.16 397.30 Td (their ) Tj ET Q q 0 0 0 rg BT 509.97 397.30 Td (engagement, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 383.80 Td (conducting ) Tj ET Q q 0 0 0 rg BT 117.07 383.80 Td (an ) Tj ET Q q 0 0 0 rg BT 128.61 383.80 Td (annual ) Tj ET Q q 0 0 0 rg BT 157.17 383.80 Td (auditor's ) Tj ET Q q 0 0 0 rg BT 192.44 383.80 Td (performance ) Tj ET Q q 0 0 0 rg BT 244.50 383.80 Td (assessment, ) Tj ET Q q 0 0 0 rg BT 296.56 383.80 Td (and ) Tj ET Q q 0 0 0 rg BT 313.11 383.80 Td (pursuing ) Tj ET Q q 0 0 0 rg BT 349.17 383.80 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 382.73 383.80 Td (discussions ) Tj ET Q q 0 0 0 rg BT 430.79 383.80 Td (with ) Tj ET Q q 0 0 0 rg BT 448.33 383.80 Td (them; ) Tj ET Q q 0 0 0 rg BT 472.37 383.80 Td (\(g\) ) Tj ET Q q 0 0 0 rg BT 484.91 383.80 Td (reviewing ) Tj ET Q q 0 0 0 rg BT 524.46 383.80 Td (all ) Tj ET Q q 0 0 0 rg BT 535.00 383.80 Td (related ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 370.30 Td (party ) Tj ET Q q 0 0 0 rg BT 94.07 370.30 Td (transactions ) Tj ET Q q 0 0 0 rg BT 144.66 370.30 Td (in ) Tj ET Q q 0 0 0 rg BT 153.73 370.30 Td (accordance ) Tj ET Q q 0 0 0 rg BT 202.32 370.30 Td (with ) Tj ET Q q 0 0 0 rg BT 220.39 370.30 Td (the ) Tj ET Q q 0 0 0 rg BT 234.97 370.30 Td (rules ) Tj ET Q q 0 0 0 rg BT 256.54 370.30 Td (of ) Tj ET Q q 0 0 0 rg BT 266.11 370.30 Td (the ) Tj ET Q q 0 0 0 rg BT 280.69 370.30 Td (NYSE ) Tj ET Q q 0 0 0 rg BT 307.26 370.30 Td (and ) Tj ET Q q 0 0 0 rg BT 324.34 370.30 Td (other ) Tj ET Q q 0 0 0 rg BT 346.92 370.30 Td (applicable ) Tj ET Q q 0 0 0 rg BT 389.51 370.30 Td (laws ) Tj ET Q q 0 0 0 rg BT 409.58 370.30 Td (and ) Tj ET Q q 0 0 0 rg BT 426.66 370.30 Td (regulations; ) Tj ET Q q 0 0 0 rg BT 475.26 370.30 Td (\(h\) ) Tj ET Q q 0 0 0 rg BT 488.32 370.30 Td (reviewing ) Tj ET Q q 0 0 0 rg BT 528.40 370.30 Td (the ) Tj ET Q q 0 0 0 rg BT 542.98 370.30 Td (audit ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 356.80 Td (procedures ) Tj ET Q q 0 0 0 rg BT 119.75 356.80 Td (including ) Tj ET Q q 0 0 0 rg BT 157.99 356.80 Td (the ) Tj ET Q q 0 0 0 rg BT 173.22 356.80 Td (proposed ) Tj ET Q q 0 0 0 rg BT 213.47 356.80 Td (scope ) Tj ET Q q 0 0 0 rg BT 240.21 356.80 Td (of ) Tj ET Q q 0 0 0 rg BT 250.44 356.80 Td (the ) Tj ET Q q 0 0 0 rg BT 265.67 356.80 Td (external ) Tj ET Q q 0 0 0 rg BT 300.41 356.80 Td (auditor's ) Tj ET Q q 0 0 0 rg BT 336.86 356.80 Td (examinations; ) Tj ET Q q 0 0 0 rg BT 395.11 356.80 Td (and ) Tj ET Q q 0 0 0 rg BT 412.85 356.80 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 423.56 356.80 Td (performing ) Tj ET Q q 0 0 0 rg BT 469.30 356.80 Td (such ) Tj ET Q q 0 0 0 rg BT 491.03 356.80 Td (other ) Tj ET Q q 0 0 0 rg BT 514.27 356.80 Td (functions ) Tj ET Q q 0 0 0 rg BT 553.01 356.80 Td (as ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 343.30 Td (are ) Tj ET Q q 0 0 0 rg BT 87.05 343.30 Td (usually ) Tj ET Q q 0 0 0 rg BT 117.10 343.30 Td (attributed ) Tj ET Q q 0 0 0 rg BT 156.67 343.30 Td (to ) Tj ET Q q 0 0 0 rg BT 166.21 343.30 Td (audit ) Tj ET Q q 0 0 0 rg BT 187.77 343.30 Td (committees ) Tj ET Q q 0 0 0 rg BT 235.81 343.30 Td (or ) Tj ET Q q 0 0 0 rg BT 245.86 343.30 Td (as ) Tj ET Q q 0 0 0 rg BT 257.40 343.30 Td (directed ) Tj ET Q q 0 0 0 rg BT 291.46 343.30 Td (by ) Tj ET Q q 0 0 0 rg BT 303.00 343.30 Td (the ) Tj ET Q q 0 0 0 rg BT 317.55 343.30 Td (Board ) Tj ET Q q 0 0 0 rg BT 343.61 343.30 Td (of ) Tj ET Q q 0 0 0 rg BT 353.15 343.30 Td (Directors. ) Tj ET Q q 0 0 0 rg BT 393.70 343.30 Td (In ) Tj ET Q q 0 0 0 rg BT 403.24 343.30 Td (making ) Tj ET Q q 0 0 0 rg BT 434.29 343.30 Td (its ) Tj ET Q q 0 0 0 rg BT 445.33 343.30 Td (recommendation ) Tj ET Q q 0 0 0 rg BT 514.41 343.30 Td (to ) Tj ET Q q 0 0 0 rg BT 523.95 343.30 Td (the ) Tj ET Q q 0 0 0 rg BT 538.50 343.30 Td (Board ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 329.80 Td (of ) Tj ET Q q 0 0 0 rg BT 81.46 329.80 Td (Directors ) Tj ET Q q 0 0 0 rg BT 119.41 329.80 Td (in ) Tj ET Q q 0 0 0 rg BT 128.37 329.80 Td (relation ) Tj ET Q q 0 0 0 rg BT 159.84 329.80 Td (to ) Tj ET Q q 0 0 0 rg BT 169.29 329.80 Td (the ) Tj ET Q q 0 0 0 rg BT 183.76 329.80 Td (annual ) Tj ET Q q 0 0 0 rg BT 212.73 329.80 Td (appointment ) Tj ET Q q 0 0 0 rg BT 264.22 329.80 Td (of ) Tj ET Q q 0 0 0 rg BT 273.68 329.80 Td (the ) Tj ET Q q 0 0 0 rg BT 288.14 329.80 Td (external ) Tj ET Q q 0 0 0 rg BT 322.11 329.80 Td (auditor) Tj ET Q q 0 0 0 rg BT 349.13 329.80 Td (, ) Tj ET Q q 0 0 0 rg BT 353.58 329.80 Td (the ) Tj ET Q q 0 0 0 rg BT 367.66 329.80 Td (Audit ) Tj ET Q q 0 0 0 rg BT 390.12 329.80 Td (and ) Tj ET Q q 0 0 0 rg BT 407.09 329.80 Td (Risk ) Tj ET Q q 0 0 0 rg BT 426.54 329.80 Td (Management ) Tj ET Q q 0 0 0 rg BT 481.02 329.80 Td (Committee ) Tj ET Q q 0 0 0 rg BT 526.49 329.80 Td (conducts ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 316.30 Td (an ) Tj ET Q q 0 0 0 rg BT 84.91 316.30 Td (annual ) Tj ET Q q 0 0 0 rg BT 114.83 316.30 Td (assessment ) Tj ET Q q 0 0 0 rg BT 165.74 316.30 Td (of ) Tj ET Q q 0 0 0 rg BT 176.14 316.30 Td (the ) Tj ET Q q 0 0 0 rg BT 191.55 316.30 Td (external ) Tj ET Q q 0 0 0 rg BT 226.46 316.30 Td (auditor's ) Tj ET Q q 0 0 0 rg BT 263.09 316.30 Td (performance ) Tj ET Q q 0 0 0 rg BT 316.51 316.30 Td (following ) Tj ET Q q 0 0 0 rg BT 354.43 316.30 Td (the ) Tj ET Q q 0 0 0 rg BT 369.83 316.30 Td (recommendations ) Tj ET Q q 0 0 0 rg BT 444.26 316.30 Td (of ) Tj ET Q q 0 0 0 rg BT 454.66 316.30 Td (the ) Tj ET Q q 0 0 0 rg BT 470.07 316.30 Td (Chartered ) Tj ET Q q 0 0 0 rg BT 512.99 316.30 Td (Professional ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 302.80 Td (Accountants ) Tj ET Q q 0 0 0 rg BT 123.57 302.80 Td (of ) Tj ET Q q 0 0 0 rg BT 133.12 302.80 Td (Canada. ) Tj ET Q q 0 0 0 rg BT 169.06 302.80 Td (The ) Tj ET Q q 0 0 0 rg BT 186.61 302.80 Td (formal ) Tj ET Q q 0 0 0 rg BT 213.66 302.80 Td (assessment ) Tj ET Q q 0 0 0 rg BT 263.73 302.80 Td (is ) Tj ET Q q 0 0 0 rg BT 272.27 302.80 Td (concluded ) Tj ET Q q 0 0 0 rg BT 315.35 302.80 Td (in ) Tj ET Q q 0 0 0 rg BT 324.39 302.80 Td (advance ) Tj ET Q q 0 0 0 rg BT 360.47 302.80 Td (of ) Tj ET Q q 0 0 0 rg BT 370.02 302.80 Td (the ) Tj ET Q q 0 0 0 rg BT 384.16 302.80 Td (Annual ) Tj ET Q q 0 0 0 rg BT 414.23 302.80 Td (General ) Tj ET Q q 0 0 0 rg BT 448.29 302.80 Td (Meeting ) Tj ET Q q 0 0 0 rg BT 482.36 302.80 Td (of ) Tj ET Q q 0 0 0 rg BT 491.91 302.80 Td (Shareholders ) Tj ET Q q 0 0 0 rg BT 547.49 302.80 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 289.30 Td (is ) Tj ET Q q 0 0 0 rg BT 81.00 289.30 Td (conducted ) Tj ET Q q 0 0 0 rg BT 125.03 289.30 Td (with ) Tj ET Q q 0 0 0 rg BT 143.54 289.30 Td (the ) Tj ET Q q 0 0 0 rg BT 158.55 289.30 Td (assistance ) Tj ET Q q 0 0 0 rg BT 203.57 289.30 Td (of ) Tj ET Q q 0 0 0 rg BT 213.58 289.30 Td (key ) Tj ET Q q 0 0 0 rg BT 230.08 289.30 Td (CGI ) Tj ET Q q 0 0 0 rg BT 248.59 289.30 Td (personnel.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 269.80 Td (The ) Tj ET Q q 0 0 0 rg BT 88.88 269.80 Td (Company ) Tj ET Q q 0 0 0 rg BT 128.76 269.80 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 169.16 269.80 Td (the ) Tj ET Q q 0 0 0 rg BT 183.04 269.80 Td (ef) Tj ET Q q 0 0 0 rg BT 190.39 269.80 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 236.78 269.80 Td (of ) Tj ET Q q 0 0 0 rg BT 245.65 269.80 Td (its ) Tj ET Q q 0 0 0 rg BT 256.02 269.80 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 297.91 269.80 Td (controls ) Tj ET Q q 0 0 0 rg BT 330.79 269.80 Td (and ) Tj ET Q q 0 0 0 rg BT 347.17 269.80 Td (procedures ) Tj ET Q q 0 0 0 rg BT 393.57 269.80 Td (and ) Tj ET Q q 0 0 0 rg BT 409.95 269.80 Td (internal ) Tj ET Q q 0 0 0 rg BT 440.84 269.80 Td (controls ) Tj ET Q q 0 0 0 rg BT 473.72 269.80 Td (over ) Tj ET Q q 0 0 0 rg BT 492.60 269.80 Td (financial ) Tj ET Q q 0 0 0 rg BT 526.99 269.80 Td (reporting ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 256.30 Td (based ) Tj ET Q q 0 0 0 rg BT 100.23 256.30 Td (on ) Tj ET Q q 0 0 0 rg BT 113.94 256.30 Td (the ) Tj ET Q q 0 0 0 rg BT 130.16 256.30 Td (framework ) Tj ET Q q 0 0 0 rg BT 175.87 256.30 Td (established ) Tj ET Q q 0 0 0 rg BT 225.10 256.30 Td (in ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 235.81 256.30 Td (Internal ) Tj ET Q q 0 0 0 rg BT 269.54 256.30 Td (Control ) Tj ET Q q 0 0 0 rg BT 302.25 256.30 Td (- ) Tj ET Q q 0 0 0 rg BT 308.95 256.30 Td (Integrated ) Tj ET Q q 0 0 0 rg BT 353.19 256.30 Td (Framework) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 398.19 256.30 Td ( ) Tj ET Q q 0 0 0 rg BT 401.90 256.30 Td (issued ) Tj ET Q q 0 0 0 rg BT 431.62 256.30 Td (by ) Tj ET Q q 0 0 0 rg BT 444.83 256.30 Td (the ) Tj ET Q q 0 0 0 rg BT 461.04 256.30 Td (Commitee ) Tj ET Q q 0 0 0 rg BT 505.75 256.30 Td (of ) Tj ET Q q 0 0 0 rg BT 516.96 256.30 Td (Sponsoring ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 242.80 Td (Organizations ) Tj ET Q q 0 0 0 rg BT 130.05 242.80 Td (of ) Tj ET Q q 0 0 0 rg BT 140.07 242.80 Td (the ) Tj ET Q q 0 0 0 rg BT 154.94 242.80 Td (T) Tj ET Q q 0 0 0 rg BT 160.10 242.80 Td (readway ) Tj ET Q q 0 0 0 rg BT 196.63 242.80 Td (Commission ) Tj ET Q q 0 0 0 rg BT 248.66 242.80 Td (\(2013 ) Tj ET Q q 0 0 0 rg BT 274.20 242.80 Td (COSO ) Tj ET Q q 0 0 0 rg BT 303.22 242.80 Td (Framework\), ) Tj ET Q q 0 0 0 rg BT 356.24 242.80 Td (supervised ) Tj ET Q q 0 0 0 rg BT 402.28 242.80 Td (by ) Tj ET Q q 0 0 0 rg BT 414.30 242.80 Td (and ) Tj ET Q q 0 0 0 rg BT 431.84 242.80 Td (with ) Tj ET Q q 0 0 0 rg BT 450.36 242.80 Td (the ) Tj ET Q q 0 0 0 rg BT 465.39 242.80 Td (participation ) Tj ET Q q 0 0 0 rg BT 516.43 242.80 Td (of ) Tj ET Q q 0 0 0 rg BT 526.46 242.80 Td (the ) Tj ET Q q 0 0 0 rg BT 541.49 242.80 Td (Chief ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 229.30 Td (Executive ) Tj ET Q q 0 0 0 rg BT 113.49 229.30 Td (Of) Tj ET Q q 0 0 0 rg BT 122.82 229.30 Td (ficer ) Tj ET Q q 0 0 0 rg BT 142.29 229.30 Td (and ) Tj ET Q q 0 0 0 rg BT 159.77 229.30 Td (the ) Tj ET Q q 0 0 0 rg BT 174.75 229.30 Td (Chief ) Tj ET Q q 0 0 0 rg BT 198.23 229.30 Td (Financial ) Tj ET Q q 0 0 0 rg BT 236.71 229.30 Td (Of) Tj ET Q q 0 0 0 rg BT 246.05 229.30 Td (ficer ) Tj ET Q q 0 0 0 rg BT 265.52 229.30 Td (as ) Tj ET Q q 0 0 0 rg BT 277.49 229.30 Td (of ) Tj ET Q q 0 0 0 rg BT 287.46 229.30 Td (September30, ) Tj ET Q q 0 0 0 rg BT 348.97 229.30 Td (2016. ) Tj ET Q q 0 0 0 rg BT 373.79 229.30 Td (The ) Tj ET Q q 0 0 0 rg BT 391.77 229.30 Td (Chief ) Tj ET Q q 0 0 0 rg BT 415.25 229.30 Td (Executive ) Tj ET Q q 0 0 0 rg BT 456.73 229.30 Td (Of) Tj ET Q q 0 0 0 rg BT 466.07 229.30 Td (ficer ) Tj ET Q q 0 0 0 rg BT 485.54 229.30 Td (and ) Tj ET Q q 0 0 0 rg BT 503.02 229.30 Td (Chief ) Tj ET Q q 0 0 0 rg BT 526.50 229.30 Td (Financial ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 215.80 Td (Of) Tj ET Q q 0 0 0 rg BT 81.34 215.80 Td (ficer ) Tj ET Q q 0 0 0 rg BT 100.25 215.80 Td (concluded ) Tj ET Q q 0 0 0 rg BT 143.19 215.80 Td (that, ) Tj ET Q q 0 0 0 rg BT 162.61 215.80 Td (based ) Tj ET Q q 0 0 0 rg BT 189.04 215.80 Td (on ) Tj ET Q q 0 0 0 rg BT 200.97 215.80 Td (this ) Tj ET Q q 0 0 0 rg BT 216.88 215.80 Td (evaluation, ) Tj ET Q q 0 0 0 rg BT 262.32 215.80 Td (the ) Tj ET Q q 0 0 0 rg BT 276.74 215.80 Td (Company) Tj ET Q q 0 0 0 rg BT 317.10 215.80 Td (s ) Tj ET Q q 0 0 0 rg BT 323.51 215.80 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 365.94 215.80 Td (controls ) Tj ET Q q 0 0 0 rg BT 399.36 215.80 Td (and ) Tj ET Q q 0 0 0 rg BT 416.28 215.80 Td (procedures ) Tj ET Q q 0 0 0 rg BT 463.22 215.80 Td (and ) Tj ET Q q 0 0 0 rg BT 480.15 215.80 Td (internal ) Tj ET Q q 0 0 0 rg BT 511.57 215.80 Td (controls ) Tj ET Q q 0 0 0 rg BT 545.00 215.80 Td (over ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 202.30 Td (financial ) Tj ET Q q 0 0 0 rg BT 106.95 202.30 Td (reporting ) Tj ET Q q 0 0 0 rg BT 144.41 202.30 Td (were ) Tj ET Q q 0 0 0 rg BT 165.85 202.30 Td (adequate ) Tj ET Q q 0 0 0 rg BT 205.32 202.30 Td (and ) Tj ET Q q 0 0 0 rg BT 222.27 202.30 Td (ef) Tj ET Q q 0 0 0 rg BT 229.62 202.30 Td (fective, ) Tj ET Q q 0 0 0 rg BT 260.06 202.30 Td (at ) Tj ET Q q 0 0 0 rg BT 269.50 202.30 Td (a ) Tj ET Q q 0 0 0 rg BT 276.44 202.30 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 322.91 202.30 Td (level ) Tj ET Q q 0 0 0 rg BT 343.35 202.30 Td (of ) Tj ET Q q 0 0 0 rg BT 352.79 202.30 Td (assurance, ) Tj ET Q q 0 0 0 rg BT 398.75 202.30 Td (to ) Tj ET Q q 0 0 0 rg BT 408.19 202.30 Td (ensure ) Tj ET Q q 0 0 0 rg BT 437.65 202.30 Td (that ) Tj ET Q q 0 0 0 rg BT 454.59 202.30 Td (material ) Tj ET Q q 0 0 0 rg BT 488.53 202.30 Td (information ) Tj ET Q q 0 0 0 rg BT 534.99 202.30 Td (related ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 188.80 Td (to ) Tj ET Q q 0 0 0 rg BT 82.01 188.80 Td (the ) Tj ET Q q 0 0 0 rg BT 97.02 188.80 Td (Company ) Tj ET Q q 0 0 0 rg BT 138.04 188.80 Td (and ) Tj ET Q q 0 0 0 rg BT 155.55 188.80 Td (its ) Tj ET Q q 0 0 0 rg BT 167.05 188.80 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 220.09 188.80 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 270.11 188.80 Td (would ) Tj ET Q q 0 0 0 rg BT 296.13 188.80 Td (be ) Tj ET Q q 0 0 0 rg BT 308.64 188.80 Td (made ) Tj ET Q q 0 0 0 rg BT 333.65 188.80 Td (known ) Tj ET Q q 0 0 0 rg BT 362.17 188.80 Td (to ) Tj ET Q q 0 0 0 rg BT 372.18 188.80 Td (them ) Tj ET Q q 0 0 0 rg BT 394.69 188.80 Td (by ) Tj ET Q q 0 0 0 rg BT 406.69 188.80 Td (others ) Tj ET Q q 0 0 0 rg BT 434.21 188.80 Td (within ) Tj ET Q q 0 0 0 rg BT 459.72 188.80 Td (those ) Tj ET Q q 0 0 0 rg BT 484.23 188.80 Td (entities.) Tj ET Q endstream endobj 97 0 obj <> endobj 98 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (47) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 49.50 706.80 Td (10. ) Tj ET Q q 0 0 0 rg BT 72.00 706.80 Td (Risk Environment) Tj ET Q 0 0 0 RG /GS0 gs 1.50 w 0 i [] 0 d 0 J 0 j 3 M 57.5 696.3 m 57.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 692.3 m 57.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 57.5 692.3 m 142.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 142.5 692.3 m 228.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 228.5 692.3 m 337.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 692.3 m 475.5 692.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 692.3 m 561.5 692.3 l s 0 0 0 RG /GS0 gs 1.50 w 0 i [] 0 d 0 J 0 j 3 M 57.5 692.3 m 57.5 688.3 l s BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 660.00 Td (10.1. ) Tj ET Q q 0 0 0 rg BT 96.02 660.00 Td (RISKS ) Tj ET Q q 0 0 0 rg BT 125.69 660.00 Td (AND ) Tj ET Q q 0 0 0 rg BT 147.69 660.00 Td (UNCERT) Tj ET Q q 0 0 0 rg BT 184.52 660.00 Td (AINTIES) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 643.50 Td (While ) Tj ET Q q 0 0 0 rg BT 96.83 643.50 Td (we ) Tj ET Q q 0 0 0 rg BT 110.67 643.50 Td (are ) Tj ET Q q 0 0 0 rg BT 126.00 643.50 Td (confident ) Tj ET Q q 0 0 0 rg BT 164.86 643.50 Td (about ) Tj ET Q q 0 0 0 rg BT 189.71 643.50 Td (our ) Tj ET Q q 0 0 0 rg BT 205.04 643.50 Td (long-term ) Tj ET Q q 0 0 0 rg BT 245.38 643.50 Td (prospects, ) Tj ET Q q 0 0 0 rg BT 289.23 643.50 Td (the ) Tj ET Q q 0 0 0 rg BT 304.07 643.50 Td (following ) Tj ET Q q 0 0 0 rg BT 341.42 643.50 Td (risks ) Tj ET Q q 0 0 0 rg BT 362.24 643.50 Td (and ) Tj ET Q q 0 0 0 rg BT 379.59 643.50 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 432.95 643.50 Td (could ) Tj ET Q q 0 0 0 rg BT 456.79 643.50 Td (af) Tj ET Q q 0 0 0 rg BT 464.13 643.50 Td (fect ) Tj ET Q q 0 0 0 rg BT 480.97 643.50 Td (our ) Tj ET Q q 0 0 0 rg BT 496.30 643.50 Td (ability ) Tj ET Q q 0 0 0 rg BT 521.64 643.50 Td (to ) Tj ET Q q 0 0 0 rg BT 531.47 643.50 Td (achieve ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 630.00 Td (our ) Tj ET Q q 0 0 0 rg BT 87.51 630.00 Td (strategic ) Tj ET Q q 0 0 0 rg BT 124.02 630.00 Td (vision ) Tj ET Q q 0 0 0 rg BT 149.53 630.00 Td (and ) Tj ET Q q 0 0 0 rg BT 167.05 630.00 Td (objectives ) Tj ET Q q 0 0 0 rg BT 209.57 630.00 Td (for ) Tj ET Q q 0 0 0 rg BT 222.57 630.00 Td (growth ) Tj ET Q q 0 0 0 rg BT 252.09 630.00 Td (and ) Tj ET Q q 0 0 0 rg BT 269.60 630.00 Td (should ) Tj ET Q q 0 0 0 rg BT 298.63 630.00 Td (be ) Tj ET Q q 0 0 0 rg BT 311.14 630.00 Td (considered ) Tj ET Q q 0 0 0 rg BT 357.67 630.00 Td (when ) Tj ET Q q 0 0 0 rg BT 381.68 630.00 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 425.21 630.00 Td (our ) Tj ET Q q 0 0 0 rg BT 440.72 630.00 Td (potential ) Tj ET Q q 0 0 0 rg BT 477.25 630.00 Td (as ) Tj ET Q q 0 0 0 rg BT 489.26 630.00 Td (an ) Tj ET Q q 0 0 0 rg BT 501.77 630.00 Td (investment.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 604.20 Td (10.1.1. ) Tj ET Q q 0 0 0 rg BT 103.52 604.20 Td (Risks ) Tj ET Q q 0 0 0 rg BT 130.04 604.20 Td (Related ) Tj ET Q q 0 0 0 rg BT 165.05 604.20 Td (to ) Tj ET Q q 0 0 0 rg BT 176.05 604.20 Td (the ) Tj ET Q q 0 0 0 rg BT 192.05 604.20 Td (Market) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 583.116796875 m 129.5126953125 583.116796875 l s q 0 0 0 rg BT 73.50 584.40 Td (Economic ) Tj ET Q q 0 0 0 rg BT 115.52 584.40 Td (risk) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 567.90 Td (The ) Tj ET Q q 0 0 0 rg BT 90.17 567.90 Td (level ) Tj ET Q q 0 0 0 rg BT 111.34 567.90 Td (of ) Tj ET Q q 0 0 0 rg BT 121.51 567.90 Td (business ) Tj ET Q q 0 0 0 rg BT 159.70 567.90 Td (activity ) Tj ET Q q 0 0 0 rg BT 189.87 567.90 Td (of ) Tj ET Q q 0 0 0 rg BT 200.03 567.90 Td (our ) Tj ET Q q 0 0 0 rg BT 215.71 567.90 Td (clients, ) Tj ET Q q 0 0 0 rg BT 246.38 567.90 Td (which ) Tj ET Q q 0 0 0 rg BT 272.05 567.90 Td (is ) Tj ET Q q 0 0 0 rg BT 281.21 567.90 Td (af) Tj ET Q q 0 0 0 rg BT 288.56 567.90 Td (fected ) Tj ET Q q 0 0 0 rg BT 315.74 567.90 Td (by ) Tj ET Q q 0 0 0 rg BT 327.91 567.90 Td (economic ) Tj ET Q q 0 0 0 rg BT 369.09 567.90 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 414.78 567.90 Td (has ) Tj ET Q q 0 0 0 rg BT 431.95 567.90 Td (a ) Tj ET Q q 0 0 0 rg BT 439.62 567.90 Td (bearing ) Tj ET Q q 0 0 0 rg BT 472.31 567.90 Td (upon ) Tj ET Q q 0 0 0 rg BT 494.99 567.90 Td (the ) Tj ET Q q 0 0 0 rg BT 510.17 567.90 Td (results ) Tj ET Q q 0 0 0 rg BT 539.34 567.90 Td (of ) Tj ET Q q 0 0 0 rg BT 549.51 567.90 Td (our ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 554.40 Td (operations. ) Tj ET Q q 0 0 0 rg BT 119.28 554.40 Td (W) Tj ET Q q 0 0 0 rg BT 127.61 554.40 Td (e ) Tj ET Q q 0 0 0 rg BT 135.36 554.40 Td (can ) Tj ET Q q 0 0 0 rg BT 152.62 554.40 Td (neither ) Tj ET Q q 0 0 0 rg BT 182.88 554.40 Td (predict ) Tj ET Q q 0 0 0 rg BT 212.64 554.40 Td (the ) Tj ET Q q 0 0 0 rg BT 227.90 554.40 Td (impact ) Tj ET Q q 0 0 0 rg BT 257.15 554.40 Td (that ) Tj ET Q q 0 0 0 rg BT 274.91 554.40 Td (current ) Tj ET Q q 0 0 0 rg BT 305.67 554.40 Td (economic ) Tj ET Q q 0 0 0 rg BT 346.93 554.40 Td (conditions ) Tj ET Q q 0 0 0 rg BT 390.20 554.40 Td (will ) Tj ET Q q 0 0 0 rg BT 405.45 554.40 Td (have ) Tj ET Q q 0 0 0 rg BT 427.71 554.40 Td (on ) Tj ET Q q 0 0 0 rg BT 440.47 554.40 Td (our ) Tj ET Q q 0 0 0 rg BT 456.22 554.40 Td (future ) Tj ET Q q 0 0 0 rg BT 481.98 554.40 Td (revenue, ) Tj ET Q q 0 0 0 rg BT 519.75 554.40 Td (nor ) Tj ET Q q 0 0 0 rg BT 535.50 554.40 Td (predict ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 540.90 Td (when ) Tj ET Q q 0 0 0 rg BT 95.53 540.90 Td (economic ) Tj ET Q q 0 0 0 rg BT 136.07 540.90 Td (conditions ) Tj ET Q q 0 0 0 rg BT 178.61 540.90 Td (will ) Tj ET Q q 0 0 0 rg BT 193.13 540.90 Td (show ) Tj ET Q q 0 0 0 rg BT 216.15 540.90 Td (meaningful ) Tj ET Q q 0 0 0 rg BT 262.20 540.90 Td (improvement. ) Tj ET Q q 0 0 0 rg BT 318.74 540.90 Td (During ) Tj ET Q q 0 0 0 rg BT 347.26 540.90 Td (an ) Tj ET Q q 0 0 0 rg BT 359.29 540.90 Td (economic ) Tj ET Q q 0 0 0 rg BT 399.83 540.90 Td (downturn, ) Tj ET Q q 0 0 0 rg BT 441.37 540.90 Td (our ) Tj ET Q q 0 0 0 rg BT 456.39 540.90 Td (clients ) Tj ET Q q 0 0 0 rg BT 483.92 540.90 Td (and ) Tj ET Q q 0 0 0 rg BT 500.95 540.90 Td (potential ) Tj ET Q q 0 0 0 rg BT 537.00 540.90 Td (clients ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 527.40 Td (may ) Tj ET Q q 0 0 0 rg BT 91.25 527.40 Td (cancel, ) Tj ET Q q 0 0 0 rg BT 122.01 527.40 Td (reduce ) Tj ET Q q 0 0 0 rg BT 151.78 527.40 Td (or ) Tj ET Q q 0 0 0 rg BT 162.03 527.40 Td (defer ) Tj ET Q q 0 0 0 rg BT 184.79 527.40 Td (existing ) Tj ET Q q 0 0 0 rg BT 217.55 527.40 Td (contracts ) Tj ET Q q 0 0 0 rg BT 256.32 527.40 Td (and ) Tj ET Q q 0 0 0 rg BT 273.58 527.40 Td (delay ) Tj ET Q q 0 0 0 rg BT 297.34 527.40 Td (entering ) Tj ET Q q 0 0 0 rg BT 332.11 527.40 Td (into ) Tj ET Q q 0 0 0 rg BT 348.87 527.40 Td (new ) Tj ET Q q 0 0 0 rg BT 367.63 527.40 Td (engagements. ) Tj ET Q q 0 0 0 rg BT 426.92 527.40 Td (In ) Tj ET Q q 0 0 0 rg BT 436.67 527.40 Td (general, ) Tj ET Q q 0 0 0 rg BT 471.44 527.40 Td (companies ) Tj ET Q q 0 0 0 rg BT 517.21 527.40 Td (also ) Tj ET Q q 0 0 0 rg BT 535.97 527.40 Td (decide ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 513.90 Td (to ) Tj ET Q q 0 0 0 rg BT 81.86 513.90 Td (undertake ) Tj ET Q q 0 0 0 rg BT 124.24 513.90 Td (fewer ) Tj ET Q q 0 0 0 rg BT 148.59 513.90 Td (IT) Tj ET Q q 0 0 0 rg BT 156.43 513.90 Td ( ) Tj ET Q q 0 0 0 rg BT 158.78 513.90 Td (systems ) Tj ET Q q 0 0 0 rg BT 194.13 513.90 Td (projects ) Tj ET Q q 0 0 0 rg BT 228.00 513.90 Td (during ) Tj ET Q q 0 0 0 rg BT 255.36 513.90 Td (dif) Tj ET Q q 0 0 0 rg BT 264.71 513.90 Td (ficult ) Tj ET Q q 0 0 0 rg BT 285.56 513.90 Td (economic ) Tj ET Q q 0 0 0 rg BT 326.43 513.90 Td (times, ) Tj ET Q q 0 0 0 rg BT 352.78 513.90 Td (resulting ) Tj ET Q q 0 0 0 rg BT 389.15 513.90 Td (in ) Tj ET Q q 0 0 0 rg BT 398.51 513.90 Td (limited ) Tj ET Q q 0 0 0 rg BT 426.86 513.90 Td (implementation ) Tj ET Q q 0 0 0 rg BT 490.24 513.90 Td (of ) Tj ET Q q 0 0 0 rg BT 500.10 513.90 Td (new ) Tj ET Q q 0 0 0 rg BT 518.96 513.90 Td (technology ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 500.40 Td (and ) Tj ET Q q 0 0 0 rg BT 89.56 500.40 Td (smaller ) Tj ET Q q 0 0 0 rg BT 121.11 500.40 Td (engagements. ) Tj ET Q q 0 0 0 rg BT 180.70 500.40 Td (Since ) Tj ET Q q 0 0 0 rg BT 205.76 500.40 Td (there ) Tj ET Q q 0 0 0 rg BT 228.82 500.40 Td (are ) Tj ET Q q 0 0 0 rg BT 244.37 500.40 Td (fewer ) Tj ET Q q 0 0 0 rg BT 268.92 500.40 Td (engagements ) Tj ET Q q 0 0 0 rg BT 326.01 500.40 Td (in ) Tj ET Q q 0 0 0 rg BT 335.56 500.40 Td (a ) Tj ET Q q 0 0 0 rg BT 343.11 500.40 Td (downturn, ) Tj ET Q q 0 0 0 rg BT 385.18 500.40 Td (competition ) Tj ET Q q 0 0 0 rg BT 433.75 500.40 Td (usually ) Tj ET Q q 0 0 0 rg BT 464.31 500.40 Td (increases ) Tj ET Q q 0 0 0 rg BT 505.38 500.40 Td (and ) Tj ET Q q 0 0 0 rg BT 522.94 500.40 Td (pricing ) Tj ET Q q 0 0 0 rg BT 552.00 500.40 Td (for ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 486.90 Td (services ) Tj ET Q q 0 0 0 rg BT 107.64 486.90 Td (may ) Tj ET Q q 0 0 0 rg BT 127.27 486.90 Td (decline ) Tj ET Q q 0 0 0 rg BT 158.42 486.90 Td (as ) Tj ET Q q 0 0 0 rg BT 170.55 486.90 Td (competitors, ) Tj ET Q q 0 0 0 rg BT 222.20 486.90 Td (particularly ) Tj ET Q q 0 0 0 rg BT 268.34 486.90 Td (companies ) Tj ET Q q 0 0 0 rg BT 314.49 486.90 Td (with ) Tj ET Q q 0 0 0 rg BT 333.13 486.90 Td (significant ) Tj ET Q q 0 0 0 rg BT 375.78 486.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 411.43 486.90 Td (resources, ) Tj ET Q q 0 0 0 rg BT 456.07 486.90 Td (decrease ) Tj ET Q q 0 0 0 rg BT 495.72 486.90 Td (rates ) Tj ET Q q 0 0 0 rg BT 518.36 486.90 Td (to ) Tj ET Q q 0 0 0 rg BT 528.50 486.90 Td (maintain ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 473.40 Td (or ) Tj ET Q q 0 0 0 rg BT 81.99 473.40 Td (increase ) Tj ET Q q 0 0 0 rg BT 117.99 473.40 Td (their ) Tj ET Q q 0 0 0 rg BT 137.49 473.40 Td (market ) Tj ET Q q 0 0 0 rg BT 166.98 473.40 Td (share ) Tj ET Q q 0 0 0 rg BT 191.48 473.40 Td (in ) Tj ET Q q 0 0 0 rg BT 200.47 473.40 Td (our ) Tj ET Q q 0 0 0 rg BT 215.46 473.40 Td (industry ) Tj ET Q q 0 0 0 rg BT 248.96 473.40 Td (and ) Tj ET Q q 0 0 0 rg BT 265.97 473.40 Td (this ) Tj ET Q q 0 0 0 rg BT 281.96 473.40 Td (may ) Tj ET Q q 0 0 0 rg BT 300.95 473.40 Td (trigger ) Tj ET Q q 0 0 0 rg BT 328.44 473.40 Td (pricing ) Tj ET Q q 0 0 0 rg BT 356.94 473.40 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 407.45 473.40 Td (related ) Tj ET Q q 0 0 0 rg BT 436.96 473.40 Td (to ) Tj ET Q q 0 0 0 rg BT 446.45 473.40 Td (the ) Tj ET Q q 0 0 0 rg BT 460.95 473.40 Td (benchmarking ) Tj ET Q q 0 0 0 rg BT 519.46 473.40 Td (obligations ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 459.90 Td (within ) Tj ET Q q 0 0 0 rg BT 97.51 459.90 Td (our ) Tj ET Q q 0 0 0 rg BT 113.02 459.90 Td (contracts. ) Tj ET Q q 0 0 0 rg BT 154.53 459.90 Td (Our ) Tj ET Q q 0 0 0 rg BT 172.04 459.90 Td (revenue ) Tj ET Q q 0 0 0 rg BT 207.06 459.90 Td (and ) Tj ET Q q 0 0 0 rg BT 224.58 459.90 Td (profitability ) Tj ET Q q 0 0 0 rg BT 270.10 459.90 Td (could ) Tj ET Q q 0 0 0 rg BT 294.11 459.90 Td (be ) Tj ET Q q 0 0 0 rg BT 306.62 459.90 Td (negatively ) Tj ET Q q 0 0 0 rg BT 349.65 459.90 Td (impacted ) Tj ET Q q 0 0 0 rg BT 388.67 459.90 Td (as ) Tj ET Q q 0 0 0 rg BT 400.68 459.90 Td (a ) Tj ET Q q 0 0 0 rg BT 408.18 459.90 Td (result ) Tj ET Q q 0 0 0 rg BT 432.69 459.90 Td (of ) Tj ET Q q 0 0 0 rg BT 442.70 459.90 Td (these ) Tj ET Q q 0 0 0 rg BT 467.21 459.90 Td (factors.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 434.10 Td (10.1.2. ) Tj ET Q q 0 0 0 rg BT 103.52 434.10 Td (Risks ) Tj ET Q q 0 0 0 rg BT 130.04 434.10 Td (Related ) Tj ET Q q 0 0 0 rg BT 165.05 434.10 Td (to ) Tj ET Q q 0 0 0 rg BT 176.05 434.10 Td (our ) Tj ET Q q 0 0 0 rg BT 193.04 434.10 Td (Industry) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 413.016796875 m 189.55078125 413.016796875 l s q 0 0 0 rg BT 73.50 414.30 Td (The ) Tj ET Q q 0 0 0 rg BT 91.51 414.30 Td (competition ) Tj ET Q q 0 0 0 rg BT 140.03 414.30 Td (for ) Tj ET Q q 0 0 0 rg BT 153.04 414.30 Td (contracts) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 397.80 Td (CGI ) Tj ET Q q 0 0 0 rg BT 89.68 397.80 Td (operates ) Tj ET Q q 0 0 0 rg BT 126.39 397.80 Td (in ) Tj ET Q q 0 0 0 rg BT 135.07 397.80 Td (a ) Tj ET Q q 0 0 0 rg BT 141.76 397.80 Td (global ) Tj ET Q q 0 0 0 rg BT 167.46 397.80 Td (marketplace ) Tj ET Q q 0 0 0 rg BT 218.16 397.80 Td (in ) Tj ET Q q 0 0 0 rg BT 226.85 397.80 Td (which ) Tj ET Q q 0 0 0 rg BT 251.54 397.80 Td (competition ) Tj ET Q q 0 0 0 rg BT 299.25 397.80 Td (among ) Tj ET Q q 0 0 0 rg BT 328.45 397.80 Td (providers ) Tj ET Q q 0 0 0 rg BT 367.14 397.80 Td (of ) Tj ET Q q 0 0 0 rg BT 376.33 397.80 Td (IT) Tj ET Q q 0 0 0 rg BT 384.16 397.80 Td ( ) Tj ET Q q 0 0 0 rg BT 385.85 397.80 Td (services ) Tj ET Q q 0 0 0 rg BT 420.53 397.80 Td (is ) Tj ET Q q 0 0 0 rg BT 428.71 397.80 Td (vigorous. ) Tj ET Q q 0 0 0 rg BT 466.91 397.80 Td (Some ) Tj ET Q q 0 0 0 rg BT 492.11 397.80 Td (of ) Tj ET Q q 0 0 0 rg BT 501.29 397.80 Td (our ) Tj ET Q q 0 0 0 rg BT 515.98 397.80 Td (competitors ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 384.30 Td (possess ) Tj ET Q q 0 0 0 rg BT 107.50 384.30 Td (greater ) Tj ET Q q 0 0 0 rg BT 138.50 384.30 Td (financial, ) Tj ET Q q 0 0 0 rg BT 176.51 384.30 Td (marketing, ) Tj ET Q q 0 0 0 rg BT 221.01 384.30 Td (sales ) Tj ET Q q 0 0 0 rg BT 244.51 384.30 Td (resources, ) Tj ET Q q 0 0 0 rg BT 289.01 384.30 Td (and ) Tj ET Q q 0 0 0 rg BT 306.51 384.30 Td (larger ) Tj ET Q q 0 0 0 rg BT 332.01 384.30 Td (geographic ) Tj ET Q q 0 0 0 rg BT 379.03 384.30 Td (scope ) Tj ET Q q 0 0 0 rg BT 405.53 384.30 Td (in ) Tj ET Q q 0 0 0 rg BT 415.02 384.30 Td (certain ) Tj ET Q q 0 0 0 rg BT 444.52 384.30 Td (parts ) Tj ET Q q 0 0 0 rg BT 467.01 384.30 Td (of ) Tj ET Q q 0 0 0 rg BT 477.01 384.30 Td (the ) Tj ET Q q 0 0 0 rg BT 492.00 384.30 Td (world ) Tj ET Q q 0 0 0 rg BT 516.00 384.30 Td (than ) Tj ET Q q 0 0 0 rg BT 536.00 384.30 Td (we ) Tj ET Q q 0 0 0 rg BT 549.99 384.30 Td (do, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 370.80 Td (which, ) Tj ET Q q 0 0 0 rg BT 99.39 370.80 Td (in ) Tj ET Q q 0 0 0 rg BT 108.27 370.80 Td (turn, ) Tj ET Q q 0 0 0 rg BT 128.15 370.80 Td (provides ) Tj ET Q q 0 0 0 rg BT 164.04 370.80 Td (them ) Tj ET Q q 0 0 0 rg BT 185.93 370.80 Td (with ) Tj ET Q q 0 0 0 rg BT 203.81 370.80 Td (additional ) Tj ET Q q 0 0 0 rg BT 244.21 370.80 Td (leverage ) Tj ET Q q 0 0 0 rg BT 280.61 370.80 Td (in ) Tj ET Q q 0 0 0 rg BT 289.49 370.80 Td (the ) Tj ET Q q 0 0 0 rg BT 303.88 370.80 Td (competition ) Tj ET Q q 0 0 0 rg BT 351.78 370.80 Td (for ) Tj ET Q q 0 0 0 rg BT 364.16 370.80 Td (contracts. ) Tj ET Q q 0 0 0 rg BT 405.05 370.80 Td (In ) Tj ET Q q 0 0 0 rg BT 414.43 370.80 Td (certain ) Tj ET Q q 0 0 0 rg BT 443.32 370.80 Td (niche, ) Tj ET Q q 0 0 0 rg BT 469.21 370.80 Td (regional ) Tj ET Q q 0 0 0 rg BT 503.11 370.80 Td (or ) Tj ET Q q 0 0 0 rg BT 512.99 370.80 Td (metropolitan ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 357.30 Td (markets, ) Tj ET Q q 0 0 0 rg BT 108.29 357.30 Td (we ) Tj ET Q q 0 0 0 rg BT 121.58 357.30 Td (face ) Tj ET Q q 0 0 0 rg BT 140.37 357.30 Td (smaller ) Tj ET Q q 0 0 0 rg BT 171.16 357.30 Td (competitors ) Tj ET Q q 0 0 0 rg BT 219.46 357.30 Td (with ) Tj ET Q q 0 0 0 rg BT 237.24 357.30 Td (specialized ) Tj ET Q q 0 0 0 rg BT 283.55 357.30 Td (capabilities ) Tj ET Q q 0 0 0 rg BT 329.86 357.30 Td (who ) Tj ET Q q 0 0 0 rg BT 348.15 357.30 Td (may ) Tj ET Q q 0 0 0 rg BT 366.94 357.30 Td (be ) Tj ET Q q 0 0 0 rg BT 378.73 357.30 Td (able ) Tj ET Q q 0 0 0 rg BT 397.53 357.30 Td (to ) Tj ET Q q 0 0 0 rg BT 406.82 357.30 Td (provide ) Tj ET Q q 0 0 0 rg BT 438.12 357.30 Td (competing ) Tj ET Q q 0 0 0 rg BT 481.43 357.30 Td (services ) Tj ET Q q 0 0 0 rg BT 516.22 357.30 Td (with ) Tj ET Q q 0 0 0 rg BT 534.00 357.30 Td (greater ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 343.80 Td (economic ) Tj ET Q q 0 0 0 rg BT 113.30 343.80 Td (ef) Tj ET Q q 0 0 0 rg BT 120.65 343.80 Td (ficiency) Tj ET Q q 0 0 0 rg BT 149.99 343.80 Td (. ) Tj ET Q q 0 0 0 rg BT 155.27 343.80 Td (Some ) Tj ET Q q 0 0 0 rg BT 181.57 343.80 Td (of ) Tj ET Q q 0 0 0 rg BT 191.86 343.80 Td (our ) Tj ET Q q 0 0 0 rg BT 207.65 343.80 Td (competitors ) Tj ET Q q 0 0 0 rg BT 256.95 343.80 Td (have ) Tj ET Q q 0 0 0 rg BT 279.25 343.80 Td (more ) Tj ET Q q 0 0 0 rg BT 302.54 343.80 Td (significant ) Tj ET Q q 0 0 0 rg BT 345.34 343.80 Td (operations ) Tj ET Q q 0 0 0 rg BT 390.15 343.80 Td (than ) Tj ET Q q 0 0 0 rg BT 410.45 343.80 Td (we ) Tj ET Q q 0 0 0 rg BT 424.74 343.80 Td (do ) Tj ET Q q 0 0 0 rg BT 437.54 343.80 Td (in ) Tj ET Q q 0 0 0 rg BT 447.32 343.80 Td (lower ) Tj ET Q q 0 0 0 rg BT 471.62 343.80 Td (cost ) Tj ET Q q 0 0 0 rg BT 490.90 343.80 Td (countries ) Tj ET Q q 0 0 0 rg BT 530.21 343.80 Td (that ) Tj ET Q q 0 0 0 rg BT 548.00 343.80 Td (can ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 330.30 Td (serve ) Tj ET Q q 0 0 0 rg BT 96.52 330.30 Td (as ) Tj ET Q q 0 0 0 rg BT 108.55 330.30 Td (a ) Tj ET Q q 0 0 0 rg BT 116.07 330.30 Td (platform ) Tj ET Q q 0 0 0 rg BT 151.10 330.30 Td (from ) Tj ET Q q 0 0 0 rg BT 171.61 330.30 Td (which ) Tj ET Q q 0 0 0 rg BT 197.14 330.30 Td (to ) Tj ET Q q 0 0 0 rg BT 207.16 330.30 Td (provide ) Tj ET Q q 0 0 0 rg BT 239.20 330.30 Td (services ) Tj ET Q q 0 0 0 rg BT 274.72 330.30 Td (worldwide ) Tj ET Q q 0 0 0 rg BT 317.25 330.30 Td (on ) Tj ET Q q 0 0 0 rg BT 329.78 330.30 Td (terms ) Tj ET Q q 0 0 0 rg BT 354.80 330.30 Td (that ) Tj ET Q q 0 0 0 rg BT 372.33 330.30 Td (may ) Tj ET Q q 0 0 0 rg BT 391.84 330.30 Td (be ) Tj ET Q q 0 0 0 rg BT 404.37 330.30 Td (more ) Tj ET Q q 0 0 0 rg BT 427.39 330.30 Td (favourable. ) Tj ET Q q 0 0 0 rg BT 474.44 330.30 Td (Increased ) Tj ET Q q 0 0 0 rg BT 516.48 330.30 Td (competition ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 316.80 Td (among ) Tj ET Q q 0 0 0 rg BT 102.08 316.80 Td (IT) Tj ET Q q 0 0 0 rg BT 109.91 316.80 Td ( ) Tj ET Q q 0 0 0 rg BT 112.47 316.80 Td (services ) Tj ET Q q 0 0 0 rg BT 148.04 316.80 Td (firms ) Tj ET Q q 0 0 0 rg BT 170.09 316.80 Td (often ) Tj ET Q q 0 0 0 rg BT 192.67 316.80 Td (results ) Tj ET Q q 0 0 0 rg BT 221.73 316.80 Td (in ) Tj ET Q q 0 0 0 rg BT 231.30 316.80 Td (corresponding ) Tj ET Q q 0 0 0 rg BT 290.89 316.80 Td (pressure ) Tj ET Q q 0 0 0 rg BT 328.47 316.80 Td (on ) Tj ET Q q 0 0 0 rg BT 341.04 316.80 Td (prices. ) Tj ET Q q 0 0 0 rg BT 369.94 316.80 Td (There ) Tj ET Q q 0 0 0 rg BT 396.01 316.80 Td (can ) Tj ET Q q 0 0 0 rg BT 413.08 316.80 Td (be ) Tj ET Q q 0 0 0 rg BT 425.65 316.80 Td (no ) Tj ET Q q 0 0 0 rg BT 438.22 316.80 Td (assurance ) Tj ET Q q 0 0 0 rg BT 482.30 316.80 Td (that ) Tj ET Q q 0 0 0 rg BT 499.87 316.80 Td (we ) Tj ET Q q 0 0 0 rg BT 513.94 316.80 Td (will ) Tj ET Q q 0 0 0 rg BT 528.99 316.80 Td (succeed ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 303.30 Td (in ) Tj ET Q q 0 0 0 rg BT 81.47 303.30 Td (providing ) Tj ET Q q 0 0 0 rg BT 120.46 303.30 Td (competitively ) Tj ET Q q 0 0 0 rg BT 174.94 303.30 Td (priced ) Tj ET Q q 0 0 0 rg BT 201.91 303.30 Td (services ) Tj ET Q q 0 0 0 rg BT 237.39 303.30 Td (at ) Tj ET Q q 0 0 0 rg BT 247.35 303.30 Td (levels ) Tj ET Q q 0 0 0 rg BT 272.83 303.30 Td (of ) Tj ET Q q 0 0 0 rg BT 282.80 303.30 Td (service ) Tj ET Q q 0 0 0 rg BT 313.77 303.30 Td (and ) Tj ET Q q 0 0 0 rg BT 331.25 303.30 Td (quality ) Tj ET Q q 0 0 0 rg BT 359.73 303.30 Td (that ) Tj ET Q q 0 0 0 rg BT 377.20 303.30 Td (will ) Tj ET Q q 0 0 0 rg BT 392.17 303.30 Td (enable ) Tj ET Q q 0 0 0 rg BT 421.66 303.30 Td (us ) Tj ET Q q 0 0 0 rg BT 433.63 303.30 Td (to ) Tj ET Q q 0 0 0 rg BT 443.60 303.30 Td (maintain ) Tj ET Q q 0 0 0 rg BT 480.08 303.30 Td (and ) Tj ET Q q 0 0 0 rg BT 497.56 303.30 Td (grow ) Tj ET Q q 0 0 0 rg BT 519.53 303.30 Td (our ) Tj ET Q q 0 0 0 rg BT 535.00 303.30 Td (market ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 289.80 Td (share.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 267.30 Td (W) Tj ET Q q 0 0 0 rg BT 80.33 267.30 Td (e ) Tj ET Q q 0 0 0 rg BT 87.53 267.30 Td (derive ) Tj ET Q q 0 0 0 rg BT 114.24 267.30 Td (significant ) Tj ET Q q 0 0 0 rg BT 156.46 267.30 Td (revenue ) Tj ET Q q 0 0 0 rg BT 191.18 267.30 Td (from ) Tj ET Q q 0 0 0 rg BT 211.37 267.30 Td (contracts ) Tj ET Q q 0 0 0 rg BT 250.08 267.30 Td (awarded ) Tj ET Q q 0 0 0 rg BT 286.80 267.30 Td (through ) Tj ET Q q 0 0 0 rg BT 319.52 267.30 Td (competitive ) Tj ET Q q 0 0 0 rg BT 367.23 267.30 Td (bidding ) Tj ET Q q 0 0 0 rg BT 398.45 267.30 Td (processes, ) Tj ET Q q 0 0 0 rg BT 444.17 267.30 Td (which ) Tj ET Q q 0 0 0 rg BT 469.37 267.30 Td (require ) Tj ET Q q 0 0 0 rg BT 499.58 267.30 Td (the ) Tj ET Q q 0 0 0 rg BT 514.29 267.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 555.00 267.30 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 253.80 Td (estimate ) Tj ET Q q 0 0 0 rg BT 108.62 253.80 Td (accurately ) Tj ET Q q 0 0 0 rg BT 152.24 253.80 Td (the ) Tj ET Q q 0 0 0 rg BT 167.35 253.80 Td (resource ) Tj ET Q q 0 0 0 rg BT 204.97 253.80 Td (and ) Tj ET Q q 0 0 0 rg BT 222.59 253.80 Td (costs ) Tj ET Q q 0 0 0 rg BT 246.20 253.80 Td (that ) Tj ET Q q 0 0 0 rg BT 263.81 253.80 Td (will ) Tj ET Q q 0 0 0 rg BT 278.92 253.80 Td (be ) Tj ET Q q 0 0 0 rg BT 291.53 253.80 Td (required ) Tj ET Q q 0 0 0 rg BT 327.15 253.80 Td (to ) Tj ET Q q 0 0 0 rg BT 337.26 253.80 Td (service ) Tj ET Q q 0 0 0 rg BT 368.37 253.80 Td (any ) Tj ET Q q 0 0 0 rg BT 385.49 253.80 Td (contracts ) Tj ET Q q 0 0 0 rg BT 424.60 253.80 Td (it ) Tj ET Q q 0 0 0 rg BT 431.71 253.80 Td (is ) Tj ET Q q 0 0 0 rg BT 440.81 253.80 Td (awarded, ) Tj ET Q q 0 0 0 rg BT 480.44 253.80 Td (based ) Tj ET Q q 0 0 0 rg BT 507.56 253.80 Td (on ) Tj ET Q q 0 0 0 rg BT 520.17 253.80 Td (the ) Tj ET Q q 0 0 0 rg BT 535.29 253.80 Td (client's ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 240.30 Td (bid ) Tj ET Q q 0 0 0 rg BT 86.39 240.30 Td (specification ) Tj ET Q q 0 0 0 rg BT 138.29 240.30 Td (and ) Tj ET Q q 0 0 0 rg BT 155.68 240.30 Td (sometimes, ) Tj ET Q q 0 0 0 rg BT 204.07 240.30 Td (in ) Tj ET Q q 0 0 0 rg BT 213.45 240.30 Td (advance ) Tj ET Q q 0 0 0 rg BT 249.86 240.30 Td (of ) Tj ET Q q 0 0 0 rg BT 259.74 240.30 Td (the ) Tj ET Q q 0 0 0 rg BT 274.63 240.30 Td (final ) Tj ET Q q 0 0 0 rg BT 293.52 240.30 Td (determination ) Tj ET Q q 0 0 0 rg BT 350.42 240.30 Td (of ) Tj ET Q q 0 0 0 rg BT 360.31 240.30 Td (the ) Tj ET Q q 0 0 0 rg BT 375.19 240.30 Td (full ) Tj ET Q q 0 0 0 rg BT 389.08 240.30 Td (scope ) Tj ET Q q 0 0 0 rg BT 415.47 240.30 Td (and ) Tj ET Q q 0 0 0 rg BT 432.86 240.30 Td (design ) Tj ET Q q 0 0 0 rg BT 461.76 240.30 Td (of ) Tj ET Q q 0 0 0 rg BT 471.64 240.30 Td (the ) Tj ET Q q 0 0 0 rg BT 486.53 240.30 Td (contract ) Tj ET Q q 0 0 0 rg BT 520.92 240.30 Td (\("see ) Tj ET Q q 0 0 0 rg BT 544.00 240.30 Td (Cost ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 226.80 Td (estimation ) Tj ET Q q 0 0 0 rg BT 115.67 226.80 Td (risks"\), ) Tj ET Q q 0 0 0 rg BT 145.50 226.80 Td (and ) Tj ET Q q 0 0 0 rg BT 163.17 226.80 Td (which ) Tj ET Q q 0 0 0 rg BT 188.83 226.80 Td (limit ) Tj ET Q q 0 0 0 rg BT 207.47 226.80 Td (the ) Tj ET Q q 0 0 0 rg BT 222.63 226.80 Td (Company's ) Tj ET Q q 0 0 0 rg BT 270.02 226.80 Td (ability ) Tj ET Q q 0 0 0 rg BT 295.67 226.80 Td (to ) Tj ET Q q 0 0 0 rg BT 305.83 226.80 Td (negotiate ) Tj ET Q q 0 0 0 rg BT 345.51 226.80 Td (certain ) Tj ET Q q 0 0 0 rg BT 375.17 226.80 Td (contractual ) Tj ET Q q 0 0 0 rg BT 421.84 226.80 Td (terms ) Tj ET Q q 0 0 0 rg BT 446.99 226.80 Td (and ) Tj ET Q q 0 0 0 rg BT 464.66 226.80 Td (conditions. ) Tj ET Q q 0 0 0 rg BT 510.33 226.80 Td (Risks ) Tj ET Q q 0 0 0 rg BT 534.98 226.80 Td (related ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 213.30 Td (to ) Tj ET Q q 0 0 0 rg BT 82.19 213.30 Td (competitive ) Tj ET Q q 0 0 0 rg BT 130.40 213.30 Td (bidding ) Tj ET Q q 0 0 0 rg BT 162.12 213.30 Td (processes ) Tj ET Q q 0 0 0 rg BT 205.82 213.30 Td (also ) Tj ET Q q 0 0 0 rg BT 225.02 213.30 Td (include ) Tj ET Q q 0 0 0 rg BT 256.23 213.30 Td (the ) Tj ET Q q 0 0 0 rg BT 271.43 213.30 Td (substantial ) Tj ET Q q 0 0 0 rg BT 317.15 213.30 Td (cost ) Tj ET Q q 0 0 0 rg BT 336.34 213.30 Td (and ) Tj ET Q q 0 0 0 rg BT 354.04 213.30 Td (managerial ) Tj ET Q q 0 0 0 rg BT 401.26 213.30 Td (time ) Tj ET Q q 0 0 0 rg BT 420.95 213.30 Td (and ) Tj ET Q q 0 0 0 rg BT 438.65 213.30 Td (ef) Tj ET Q q 0 0 0 rg BT 446.00 213.30 Td (fort ) Tj ET Q q 0 0 0 rg BT 461.69 213.30 Td (spent ) Tj ET Q q 0 0 0 rg BT 486.39 213.30 Td (by ) Tj ET Q q 0 0 0 rg BT 498.59 213.30 Td (the ) Tj ET Q q 0 0 0 rg BT 513.79 213.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 554.99 213.30 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 199.80 Td (prepare ) Tj ET Q q 0 0 0 rg BT 105.56 199.80 Td (bids ) Tj ET Q q 0 0 0 rg BT 124.62 199.80 Td (and ) Tj ET Q q 0 0 0 rg BT 142.18 199.80 Td (proposals ) Tj ET Q q 0 0 0 rg BT 183.74 199.80 Td (for ) Tj ET Q q 0 0 0 rg BT 196.79 199.80 Td (contracts ) Tj ET Q q 0 0 0 rg BT 235.85 199.80 Td (that ) Tj ET Q q 0 0 0 rg BT 253.40 199.80 Td (may ) Tj ET Q q 0 0 0 rg BT 272.95 199.80 Td (or ) Tj ET Q q 0 0 0 rg BT 283.50 199.80 Td (may ) Tj ET Q q 0 0 0 rg BT 303.04 199.80 Td (not ) Tj ET Q q 0 0 0 rg BT 318.10 199.80 Td (be ) Tj ET Q q 0 0 0 rg BT 330.65 199.80 Td (awarded ) Tj ET Q q 0 0 0 rg BT 367.72 199.80 Td (to ) Tj ET Q q 0 0 0 rg BT 377.77 199.80 Td (the ) Tj ET Q q 0 0 0 rg BT 392.82 199.80 Td (Company) Tj ET Q q 0 0 0 rg BT 430.67 199.80 Td (, ) Tj ET Q q 0 0 0 rg BT 435.72 199.80 Td (as ) Tj ET Q q 0 0 0 rg BT 447.76 199.80 Td (well ) Tj ET Q q 0 0 0 rg BT 465.81 199.80 Td (as ) Tj ET Q q 0 0 0 rg BT 477.86 199.80 Td (expenses ) Tj ET Q q 0 0 0 rg BT 518.93 199.80 Td (and ) Tj ET Q q 0 0 0 rg BT 536.49 199.80 Td (delays ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 186.30 Td (that ) Tj ET Q q 0 0 0 rg BT 88.65 186.30 Td (may ) Tj ET Q q 0 0 0 rg BT 107.30 186.30 Td (arise ) Tj ET Q q 0 0 0 rg BT 128.44 186.30 Td (if ) Tj ET Q q 0 0 0 rg BT 134.59 186.30 Td (the ) Tj ET Q q 0 0 0 rg BT 148.74 186.30 Td (Company's ) Tj ET Q q 0 0 0 rg BT 195.12 186.30 Td (competitors ) Tj ET Q q 0 0 0 rg BT 243.27 186.30 Td (protest ) Tj ET Q q 0 0 0 rg BT 272.43 186.30 Td (or ) Tj ET Q q 0 0 0 rg BT 282.07 186.30 Td (challenge ) Tj ET Q q 0 0 0 rg BT 322.24 186.30 Td (awards ) Tj ET Q q 0 0 0 rg BT 352.90 186.30 Td (made ) Tj ET Q q 0 0 0 rg BT 377.05 186.30 Td (to ) Tj ET Q q 0 0 0 rg BT 386.20 186.30 Td (the ) Tj ET Q q 0 0 0 rg BT 400.35 186.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 440.51 186.30 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 477.18 186.30 Td (to ) Tj ET Q q 0 0 0 rg BT 486.32 186.30 Td (competitive ) Tj ET Q q 0 0 0 rg BT 533.48 186.30 Td (bidding ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 172.80 Td (process. ) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 151.716796875 m 300.13037109375 151.716796875 l s q 0 0 0 rg BT 73.50 153.00 Td (The ) Tj ET Q q 0 0 0 rg BT 91.51 153.00 Td (availability ) Tj ET Q q 0 0 0 rg BT 135.53 153.00 Td (and ) Tj ET Q q 0 0 0 rg BT 153.05 153.00 Td (retention ) Tj ET Q q 0 0 0 rg BT 190.57 153.00 Td (of ) Tj ET Q q 0 0 0 rg BT 200.58 153.00 Td (qualified ) Tj ET Q q 0 0 0 rg BT 236.60 153.00 Td (IT ) Tj ET Q q 0 0 0 rg BT 247.10 153.00 Td (professionals) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 136.50 Td (There ) Tj ET Q q 0 0 0 rg BT 98.00 136.50 Td (is ) Tj ET Q q 0 0 0 rg BT 106.98 136.50 Td (strong ) Tj ET Q q 0 0 0 rg BT 134.48 136.50 Td (demand ) Tj ET Q q 0 0 0 rg BT 169.50 136.50 Td (for ) Tj ET Q q 0 0 0 rg BT 182.48 136.50 Td (qualified ) Tj ET Q q 0 0 0 rg BT 218.50 136.50 Td (individuals ) Tj ET Q q 0 0 0 rg BT 263.01 136.50 Td (in ) Tj ET Q q 0 0 0 rg BT 272.50 136.50 Td (the ) Tj ET Q q 0 0 0 rg BT 287.50 136.50 Td (IT) Tj ET Q q 0 0 0 rg BT 295.33 136.50 Td ( ) Tj ET Q q 0 0 0 rg BT 297.82 136.50 Td (industry) Tj ET Q q 0 0 0 rg BT 328.67 136.50 Td (. ) Tj ET Q q 0 0 0 rg BT 333.65 136.50 Td (Hiring ) Tj ET Q q 0 0 0 rg BT 359.65 136.50 Td (and ) Tj ET Q q 0 0 0 rg BT 377.15 136.50 Td (retaining ) Tj ET Q q 0 0 0 rg BT 414.16 136.50 Td (a ) Tj ET Q q 0 0 0 rg BT 421.65 136.50 Td (suf) Tj ET Q q 0 0 0 rg BT 433.50 136.50 Td (ficient ) Tj ET Q q 0 0 0 rg BT 459.49 136.50 Td (amount ) Tj ET Q q 0 0 0 rg BT 492.00 136.50 Td (of ) Tj ET Q q 0 0 0 rg BT 501.99 136.50 Td (individuals ) Tj ET Q q 0 0 0 rg BT 546.50 136.50 Td (with ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 123.00 Td (the ) Tj ET Q q 0 0 0 rg BT 86.97 123.00 Td (desired ) Tj ET Q q 0 0 0 rg BT 118.94 123.00 Td (knowledge ) Tj ET Q q 0 0 0 rg BT 164.43 123.00 Td (and ) Tj ET Q q 0 0 0 rg BT 181.90 123.00 Td (skill ) Tj ET Q q 0 0 0 rg BT 199.35 123.00 Td (set ) Tj ET Q q 0 0 0 rg BT 213.81 123.00 Td (may ) Tj ET Q q 0 0 0 rg BT 233.27 123.00 Td (be ) Tj ET Q q 0 0 0 rg BT 245.73 123.00 Td (dif) Tj ET Q q 0 0 0 rg BT 255.08 123.00 Td (ficult. ) Tj ET Q q 0 0 0 rg BT 278.38 123.00 Td (Therefore, ) Tj ET Q q 0 0 0 rg BT 322.35 123.00 Td (it ) Tj ET Q q 0 0 0 rg BT 329.31 123.00 Td (is ) Tj ET Q q 0 0 0 rg BT 338.26 123.00 Td (important ) Tj ET Q q 0 0 0 rg BT 378.23 123.00 Td (that ) Tj ET Q q 0 0 0 rg BT 395.70 123.00 Td (we ) Tj ET Q q 0 0 0 rg BT 409.66 123.00 Td (remain ) Tj ET Q q 0 0 0 rg BT 439.63 123.00 Td (able ) Tj ET Q q 0 0 0 rg BT 459.10 123.00 Td (to ) Tj ET Q q 0 0 0 rg BT 469.06 123.00 Td (successfully ) Tj ET Q q 0 0 0 rg BT 520.03 123.00 Td (attract ) Tj ET Q q 0 0 0 rg BT 547.49 123.00 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 109.50 Td (retain ) Tj ET Q q 0 0 0 rg BT 97.91 109.50 Td (highly ) Tj ET Q q 0 0 0 rg BT 124.82 109.50 Td (qualified ) Tj ET Q q 0 0 0 rg BT 161.74 109.50 Td (professionals ) Tj ET Q q 0 0 0 rg BT 218.16 109.50 Td (and ) Tj ET Q q 0 0 0 rg BT 236.57 109.50 Td (establish ) Tj ET Q q 0 0 0 rg BT 275.48 109.50 Td (an ) Tj ET Q q 0 0 0 rg BT 288.89 109.50 Td (ef) Tj ET Q q 0 0 0 rg BT 296.23 109.50 Td (fective ) Tj ET Q q 0 0 0 rg BT 325.64 109.50 Td (succession ) Tj ET Q q 0 0 0 rg BT 373.55 109.50 Td (plan. ) Tj ET Q q 0 0 0 rg BT 396.46 109.50 Td (If ) Tj ET Q q 0 0 0 rg BT 404.86 109.50 Td (our ) Tj ET Q q 0 0 0 rg BT 421.26 109.50 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 485.69 109.50 Td (programs ) Tj ET Q q 0 0 0 rg BT 527.09 109.50 Td (aimed ) Tj ET Q q 0 0 0 rg BT 555.00 109.50 Td (at ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 96.00 Td (attracting ) Tj ET Q q 0 0 0 rg BT 111.35 96.00 Td (and ) Tj ET Q q 0 0 0 rg BT 128.71 96.00 Td (retaining ) Tj ET Q q 0 0 0 rg BT 165.57 96.00 Td (qualified ) Tj ET Q q 0 0 0 rg BT 201.43 96.00 Td (and ) Tj ET Q q 0 0 0 rg BT 218.78 96.00 Td (dedicated ) Tj ET Q q 0 0 0 rg BT 260.15 96.00 Td (professionals ) Tj ET Q q 0 0 0 rg BT 315.51 96.00 Td (do ) Tj ET Q q 0 0 0 rg BT 327.86 96.00 Td (not ) Tj ET Q q 0 0 0 rg BT 342.70 96.00 Td (ensure ) Tj ET Q q 0 0 0 rg BT 372.56 96.00 Td (that ) Tj ET Q q 0 0 0 rg BT 389.90 96.00 Td (we ) Tj ET Q q 0 0 0 rg BT 403.74 96.00 Td (have ) Tj ET Q q 0 0 0 rg BT 425.60 96.00 Td (staf) Tj ET Q q 0 0 0 rg BT 439.94 96.00 Td (f ) Tj ET Q q 0 0 0 rg BT 444.78 96.00 Td (in ) Tj ET Q q 0 0 0 rg BT 454.12 96.00 Td (suf) Tj ET Q q 0 0 0 rg BT 465.96 96.00 Td (ficient ) Tj ET Q q 0 0 0 rg BT 491.81 96.00 Td (numbers ) Tj ET Q q 0 0 0 rg BT 529.16 96.00 Td (and ) Tj ET Q q 0 0 0 rg BT 546.51 96.00 Td (with ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 82.50 Td (the ) Tj ET Q q 0 0 0 rg BT 86.64 82.50 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 134.31 82.50 Td (training, ) Tj ET Q q 0 0 0 rg BT 168.46 82.50 Td (expertise ) Tj ET Q q 0 0 0 rg BT 207.11 82.50 Td (and ) Tj ET Q q 0 0 0 rg BT 224.26 82.50 Td (suitable ) Tj ET Q q 0 0 0 rg BT 257.41 82.50 Td (government ) Tj ET Q q 0 0 0 rg BT 307.07 82.50 Td (security ) Tj ET Q q 0 0 0 rg BT 340.21 82.50 Td (clearances ) Tj ET Q q 0 0 0 rg BT 385.86 82.50 Td (required ) Tj ET Q q 0 0 0 rg BT 421.01 82.50 Td (to ) Tj ET Q q 0 0 0 rg BT 430.65 82.50 Td (serve ) Tj ET Q q 0 0 0 rg BT 454.79 82.50 Td (the ) Tj ET Q q 0 0 0 rg BT 469.43 82.50 Td (needs ) Tj ET Q q 0 0 0 rg BT 496.09 82.50 Td (of ) Tj ET Q q 0 0 0 rg BT 505.73 82.50 Td (our ) Tj ET Q q 0 0 0 rg BT 520.87 82.50 Td (clients, ) Tj ET Q q 0 0 0 rg BT 551.01 82.50 Td (we ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 69.00 Td (may ) Tj ET Q q 0 0 0 rg BT 91.45 69.00 Td (have ) Tj ET Q q 0 0 0 rg BT 113.42 69.00 Td (to ) Tj ET Q q 0 0 0 rg BT 123.38 69.00 Td (rely ) Tj ET Q q 0 0 0 rg BT 140.33 69.00 Td (on ) Tj ET Q q 0 0 0 rg BT 152.80 69.00 Td (subcontractors ) Tj ET Q q 0 0 0 rg BT 214.27 69.00 Td (or ) Tj ET Q q 0 0 0 rg BT 224.73 69.00 Td (transfers ) Tj ET Q q 0 0 0 rg BT 262.19 69.00 Td (of ) Tj ET Q q 0 0 0 rg BT 272.15 69.00 Td (staf) Tj ET Q q 0 0 0 rg BT 286.49 69.00 Td (f ) Tj ET Q q 0 0 0 rg BT 291.44 69.00 Td (to ) Tj ET Q q 0 0 0 rg BT 301.40 69.00 Td (fill ) Tj ET Q q 0 0 0 rg BT 312.35 69.00 Td (resulting ) Tj ET Q q 0 0 0 rg BT 348.82 69.00 Td (gaps. ) Tj ET Q q 0 0 0 rg BT 373.29 69.00 Td (If ) Tj ET Q q 0 0 0 rg BT 380.74 69.00 Td (our ) Tj ET Q q 0 0 0 rg BT 396.20 69.00 Td (succession ) Tj ET Q q 0 0 0 rg BT 443.18 69.00 Td (plan ) Tj ET Q q 0 0 0 rg BT 462.64 69.00 Td (fails ) Tj ET Q q 0 0 0 rg BT 481.10 69.00 Td (to ) Tj ET Q q 0 0 0 rg BT 491.06 69.00 Td (identify ) Tj ET Q q 0 0 0 rg BT 522.02 69.00 Td (those ) Tj ET Q q 0 0 0 rg BT 546.49 69.00 Td (with ) Tj ET Q endstream endobj 99 0 obj <> endobj 100 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (48) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 708.95 Td (potential ) Tj ET Q q 0 0 0 rg BT 108.57 708.95 Td (or ) Tj ET Q q 0 0 0 rg BT 119.11 708.95 Td (to ) Tj ET Q q 0 0 0 rg BT 129.15 708.95 Td (develop ) Tj ET Q q 0 0 0 rg BT 163.22 708.95 Td (these ) Tj ET Q q 0 0 0 rg BT 187.77 708.95 Td (key ) Tj ET Q q 0 0 0 rg BT 204.31 708.95 Td (individuals, ) Tj ET Q q 0 0 0 rg BT 251.38 708.95 Td (we ) Tj ET Q q 0 0 0 rg BT 265.42 708.95 Td (may ) Tj ET Q q 0 0 0 rg BT 284.96 708.95 Td (lose ) Tj ET Q q 0 0 0 rg BT 304.01 708.95 Td (key ) Tj ET Q q 0 0 0 rg BT 320.56 708.95 Td (members ) Tj ET Q q 0 0 0 rg BT 360.60 708.95 Td (and ) Tj ET Q q 0 0 0 rg BT 378.16 708.95 Td (be ) Tj ET Q q 0 0 0 rg BT 390.71 708.95 Td (required ) Tj ET Q q 0 0 0 rg BT 426.27 708.95 Td (to ) Tj ET Q q 0 0 0 rg BT 436.31 708.95 Td (recruit ) Tj ET Q q 0 0 0 rg BT 463.85 708.95 Td (and ) Tj ET Q q 0 0 0 rg BT 481.41 708.95 Td (train ) Tj ET Q q 0 0 0 rg BT 501.45 708.95 Td (new ) Tj ET Q q 0 0 0 rg BT 520.50 708.95 Td (resources. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 695.45 Td (This ) Tj ET Q q 0 0 0 rg BT 91.50 695.45 Td (might ) Tj ET Q q 0 0 0 rg BT 116.01 695.45 Td (result ) Tj ET Q q 0 0 0 rg BT 140.52 695.45 Td (in ) Tj ET Q q 0 0 0 rg BT 150.02 695.45 Td (lost ) Tj ET Q q 0 0 0 rg BT 166.53 695.45 Td (revenue ) Tj ET Q q 0 0 0 rg BT 201.56 695.45 Td (or ) Tj ET Q q 0 0 0 rg BT 212.06 695.45 Td (increased ) Tj ET Q q 0 0 0 rg BT 253.58 695.45 Td (costs, ) Tj ET Q q 0 0 0 rg BT 279.59 695.45 Td (thereby ) Tj ET Q q 0 0 0 rg BT 312.11 695.45 Td (putting ) Tj ET Q q 0 0 0 rg BT 341.63 695.45 Td (pressure ) Tj ET Q q 0 0 0 rg BT 379.15 695.45 Td (on ) Tj ET Q q 0 0 0 rg BT 391.66 695.45 Td (our ) Tj ET Q q 0 0 0 rg BT 407.17 695.45 Td (net ) Tj ET Q q 0 0 0 rg BT 422.18 695.45 Td (earnings.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 49.50 678.65 Td () Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 72 666.566796875 m 564.99755859375 666.566796875 l s q 0 0 0 rg BT 72.00 667.85 Td (The ) Tj ET Q q 0 0 0 rg BT 90.12 667.85 Td (ability ) Tj ET Q q 0 0 0 rg BT 115.74 667.85 Td (to ) Tj ET Q q 0 0 0 rg BT 125.86 667.85 Td (continue ) Tj ET Q q 0 0 0 rg BT 162.50 667.85 Td (developing ) Tj ET Q q 0 0 0 rg BT 208.65 667.85 Td (and ) Tj ET Q q 0 0 0 rg BT 226.28 667.85 Td (expanding ) Tj ET Q q 0 0 0 rg BT 270.43 667.85 Td (service ) Tj ET Q q 0 0 0 rg BT 301.55 667.85 Td (offerings ) Tj ET Q q 0 0 0 rg BT 338.68 667.85 Td (to ) Tj ET Q q 0 0 0 rg BT 348.80 667.85 Td (address ) Tj ET Q q 0 0 0 rg BT 383.43 667.85 Td (emerging ) Tj ET Q q 0 0 0 rg BT 423.57 667.85 Td (business ) Tj ET Q q 0 0 0 rg BT 461.70 667.85 Td (demands ) Tj ET Q q 0 0 0 rg BT 501.34 667.85 Td (and ) Tj ET Q q 0 0 0 rg BT 518.96 667.85 Td (technology ) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 72 655.766796875 m 97.013671875 655.766796875 l s q 0 0 0 rg BT 72.00 657.05 Td (trends) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 640.55 Td (The ) Tj ET Q q 0 0 0 rg BT 89.71 640.55 Td (rapid ) Tj ET Q q 0 0 0 rg BT 111.93 640.55 Td (pace ) Tj ET Q q 0 0 0 rg BT 133.65 640.55 Td (of ) Tj ET Q q 0 0 0 rg BT 143.35 640.55 Td (change ) Tj ET Q q 0 0 0 rg BT 175.08 640.55 Td (in ) Tj ET Q q 0 0 0 rg BT 184.29 640.55 Td (all ) Tj ET Q q 0 0 0 rg BT 195.50 640.55 Td (aspects ) Tj ET Q q 0 0 0 rg BT 228.72 640.55 Td (of ) Tj ET Q q 0 0 0 rg BT 238.43 640.55 Td (IT) Tj ET Q q 0 0 0 rg BT 246.26 640.55 Td ( ) Tj ET Q q 0 0 0 rg BT 248.46 640.55 Td (and ) Tj ET Q q 0 0 0 rg BT 265.68 640.55 Td (the ) Tj ET Q q 0 0 0 rg BT 280.40 640.55 Td (continually ) Tj ET Q q 0 0 0 rg BT 325.12 640.55 Td (declining ) Tj ET Q q 0 0 0 rg BT 362.85 640.55 Td (costs ) Tj ET Q q 0 0 0 rg BT 386.06 640.55 Td (of ) Tj ET Q q 0 0 0 rg BT 395.77 640.55 Td (acquiring ) Tj ET Q q 0 0 0 rg BT 434.50 640.55 Td (and ) Tj ET Q q 0 0 0 rg BT 451.71 640.55 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 499.94 640.55 Td (IT) Tj ET Q q 0 0 0 rg BT 507.78 640.55 Td ( ) Tj ET Q q 0 0 0 rg BT 509.98 640.55 Td (infrastructure ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 627.05 Td (mean ) Tj ET Q q 0 0 0 rg BT 97.07 627.05 Td (that ) Tj ET Q q 0 0 0 rg BT 114.64 627.05 Td (we ) Tj ET Q q 0 0 0 rg BT 128.70 627.05 Td (must ) Tj ET Q q 0 0 0 rg BT 150.76 627.05 Td (anticipate ) Tj ET Q q 0 0 0 rg BT 191.84 627.05 Td (changes ) Tj ET Q q 0 0 0 rg BT 228.43 627.05 Td (in ) Tj ET Q q 0 0 0 rg BT 237.99 627.05 Td (our ) Tj ET Q q 0 0 0 rg BT 253.55 627.05 Td (clients) Tj ET Q q 0 0 0 rg BT 280.73 627.05 Td ( ) Tj ET Q q 0 0 0 rg BT 283.28 627.05 Td (needs. ) Tj ET Q q 0 0 0 rg BT 312.70 627.05 Td (T) Tj ET Q q 0 0 0 rg BT 317.20 627.05 Td (o ) Tj ET Q q 0 0 0 rg BT 324.76 627.05 Td (do ) Tj ET Q q 0 0 0 rg BT 337.33 627.05 Td (so, ) Tj ET Q q 0 0 0 rg BT 351.89 627.05 Td (we ) Tj ET Q q 0 0 0 rg BT 365.95 627.05 Td (must ) Tj ET Q q 0 0 0 rg BT 388.01 627.05 Td (adapt ) Tj ET Q q 0 0 0 rg BT 413.09 627.05 Td (our ) Tj ET Q q 0 0 0 rg BT 428.65 627.05 Td (services ) Tj ET Q q 0 0 0 rg BT 464.22 627.05 Td (and ) Tj ET Q q 0 0 0 rg BT 481.79 627.05 Td (our ) Tj ET Q q 0 0 0 rg BT 497.35 627.05 Td (solutions ) Tj ET Q q 0 0 0 rg BT 535.43 627.05 Td (so ) Tj ET Q q 0 0 0 rg BT 547.49 627.05 Td (that ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 613.55 Td (we ) Tj ET Q q 0 0 0 rg BT 86.42 613.55 Td (maintain ) Tj ET Q q 0 0 0 rg BT 123.36 613.55 Td (and ) Tj ET Q q 0 0 0 rg BT 141.29 613.55 Td (improve ) Tj ET Q q 0 0 0 rg BT 176.22 613.55 Td (our ) Tj ET Q q 0 0 0 rg BT 192.15 613.55 Td (competitive ) Tj ET Q q 0 0 0 rg BT 240.58 613.55 Td (advantage ) Tj ET Q q 0 0 0 rg BT 285.54 613.55 Td (and ) Tj ET Q q 0 0 0 rg BT 303.47 613.55 Td (remain ) Tj ET Q q 0 0 0 rg BT 333.90 613.55 Td (able ) Tj ET Q q 0 0 0 rg BT 353.83 613.55 Td (to ) Tj ET Q q 0 0 0 rg BT 364.26 613.55 Td (provide ) Tj ET Q q 0 0 0 rg BT 396.69 613.55 Td (cost ) Tj ET Q q 0 0 0 rg BT 416.12 613.55 Td (ef) Tj ET Q q 0 0 0 rg BT 423.46 613.55 Td (fective ) Tj ET Q q 0 0 0 rg BT 452.39 613.55 Td (services ) Tj ET Q q 0 0 0 rg BT 488.32 613.55 Td (and ) Tj ET Q q 0 0 0 rg BT 506.25 613.55 Td (solutions. ) Tj ET Q q 0 0 0 rg BT 547.00 613.55 Td (The ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 600.05 Td (market ) Tj ET Q q 0 0 0 rg BT 102.10 600.05 Td (for ) Tj ET Q q 0 0 0 rg BT 115.20 600.05 Td (the ) Tj ET Q q 0 0 0 rg BT 130.31 600.05 Td (services ) Tj ET Q q 0 0 0 rg BT 165.92 600.05 Td (and ) Tj ET Q q 0 0 0 rg BT 183.53 600.05 Td (solutions ) Tj ET Q q 0 0 0 rg BT 221.65 600.05 Td (we ) Tj ET Q q 0 0 0 rg BT 235.75 600.05 Td (of) Tj ET Q q 0 0 0 rg BT 243.09 600.05 Td (fer ) Tj ET Q q 0 0 0 rg BT 256.19 600.05 Td (is ) Tj ET Q q 0 0 0 rg BT 265.29 600.05 Td (extremely ) Tj ET Q q 0 0 0 rg BT 306.90 600.05 Td (competitive ) Tj ET Q q 0 0 0 rg BT 355.01 600.05 Td (and ) Tj ET Q q 0 0 0 rg BT 372.63 600.05 Td (there ) Tj ET Q q 0 0 0 rg BT 395.74 600.05 Td (can ) Tj ET Q q 0 0 0 rg BT 412.84 600.05 Td (be ) Tj ET Q q 0 0 0 rg BT 425.45 600.05 Td (no ) Tj ET Q q 0 0 0 rg BT 438.06 600.05 Td (assurance ) Tj ET Q q 0 0 0 rg BT 482.18 600.05 Td (that ) Tj ET Q q 0 0 0 rg BT 499.79 600.05 Td (we ) Tj ET Q q 0 0 0 rg BT 513.89 600.05 Td (will ) Tj ET Q q 0 0 0 rg BT 528.99 600.05 Td (succeed ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 586.55 Td (in ) Tj ET Q q 0 0 0 rg BT 81.56 586.55 Td (developing ) Tj ET Q q 0 0 0 rg BT 127.65 586.55 Td (and ) Tj ET Q q 0 0 0 rg BT 145.22 586.55 Td (adapting ) Tj ET Q q 0 0 0 rg BT 182.31 586.55 Td (our ) Tj ET Q q 0 0 0 rg BT 197.88 586.55 Td (business ) Tj ET Q q 0 0 0 rg BT 235.95 586.55 Td (in ) Tj ET Q q 0 0 0 rg BT 245.51 586.55 Td (a ) Tj ET Q q 0 0 0 rg BT 253.07 586.55 Td (timely ) Tj ET Q q 0 0 0 rg BT 279.13 586.55 Td (manner) Tj ET Q q 0 0 0 rg BT 309.15 586.55 Td (. ) Tj ET Q q 0 0 0 rg BT 314.21 586.55 Td (If ) Tj ET Q q 0 0 0 rg BT 321.76 586.55 Td (we ) Tj ET Q q 0 0 0 rg BT 335.82 586.55 Td (do ) Tj ET Q q 0 0 0 rg BT 348.39 586.55 Td (not ) Tj ET Q q 0 0 0 rg BT 363.46 586.55 Td (keep ) Tj ET Q q 0 0 0 rg BT 385.53 586.55 Td (pace, ) Tj ET Q q 0 0 0 rg BT 410.10 586.55 Td (our ) Tj ET Q q 0 0 0 rg BT 425.67 586.55 Td (ability ) Tj ET Q q 0 0 0 rg BT 451.23 586.55 Td (to ) Tj ET Q q 0 0 0 rg BT 461.29 586.55 Td (retain ) Tj ET Q q 0 0 0 rg BT 486.36 586.55 Td (existing ) Tj ET Q q 0 0 0 rg BT 519.43 586.55 Td (clients ) Tj ET Q q 0 0 0 rg BT 547.50 586.55 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 573.05 Td (gain ) Tj ET Q q 0 0 0 rg BT 91.68 573.05 Td (new ) Tj ET Q q 0 0 0 rg BT 110.85 573.05 Td (business ) Tj ET Q q 0 0 0 rg BT 149.04 573.05 Td (may ) Tj ET Q q 0 0 0 rg BT 168.70 573.05 Td (be ) Tj ET Q q 0 0 0 rg BT 181.38 573.05 Td (adversely ) Tj ET Q q 0 0 0 rg BT 222.56 573.05 Td (af) Tj ET Q q 0 0 0 rg BT 229.90 573.05 Td (fected. ) Tj ET Q q 0 0 0 rg BT 259.41 573.05 Td (This ) Tj ET Q q 0 0 0 rg BT 279.07 573.05 Td (may ) Tj ET Q q 0 0 0 rg BT 298.74 573.05 Td (result ) Tj ET Q q 0 0 0 rg BT 323.41 573.05 Td (in ) Tj ET Q q 0 0 0 rg BT 333.08 573.05 Td (pressure ) Tj ET Q q 0 0 0 rg BT 370.76 573.05 Td (on ) Tj ET Q q 0 0 0 rg BT 383.43 573.05 Td (our ) Tj ET Q q 0 0 0 rg BT 399.10 573.05 Td (revenue, ) Tj ET Q q 0 0 0 rg BT 436.79 573.05 Td (net ) Tj ET Q q 0 0 0 rg BT 451.96 573.05 Td (earnings ) Tj ET Q q 0 0 0 rg BT 489.15 573.05 Td (and ) Tj ET Q q 0 0 0 rg BT 506.83 573.05 Td (resulting ) Tj ET Q q 0 0 0 rg BT 543.51 573.05 Td (cash ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 559.55 Td (flows ) Tj ET Q q 0 0 0 rg BT 95.01 559.55 Td (from ) Tj ET Q q 0 0 0 rg BT 115.51 559.55 Td (operations.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 533.466796875 m 280.61865234375 533.466796875 l s q 0 0 0 rg BT 73.50 534.75 Td (Infringing ) Tj ET Q q 0 0 0 rg BT 113.02 534.75 Td (on ) Tj ET Q q 0 0 0 rg BT 125.54 534.75 Td (the ) Tj ET Q q 0 0 0 rg BT 140.55 534.75 Td (intellectual ) Tj ET Q q 0 0 0 rg BT 185.57 534.75 Td (property ) Tj ET Q q 0 0 0 rg BT 221.09 534.75 Td (rights ) Tj ET Q q 0 0 0 rg BT 245.60 534.75 Td (of ) Tj ET Q q 0 0 0 rg BT 255.60 534.75 Td (others) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 518.25 Td (Despite ) Tj ET Q q 0 0 0 rg BT 105.59 518.25 Td (our ) Tj ET Q q 0 0 0 rg BT 121.68 518.25 Td (ef) Tj ET Q q 0 0 0 rg BT 129.02 518.25 Td (forts, ) Tj ET Q q 0 0 0 rg BT 152.10 518.25 Td (the ) Tj ET Q q 0 0 0 rg BT 167.69 518.25 Td (steps ) Tj ET Q q 0 0 0 rg BT 192.28 518.25 Td (we ) Tj ET Q q 0 0 0 rg BT 206.87 518.25 Td (take ) Tj ET Q q 0 0 0 rg BT 226.96 518.25 Td (to ) Tj ET Q q 0 0 0 rg BT 237.54 518.25 Td (ensure ) Tj ET Q q 0 0 0 rg BT 268.14 518.25 Td (that ) Tj ET Q q 0 0 0 rg BT 286.23 518.25 Td (our ) Tj ET Q q 0 0 0 rg BT 302.31 518.25 Td (services ) Tj ET Q q 0 0 0 rg BT 338.40 518.25 Td (and ) Tj ET Q q 0 0 0 rg BT 356.49 518.25 Td (of) Tj ET Q q 0 0 0 rg BT 363.84 518.25 Td (ferings ) Tj ET Q q 0 0 0 rg BT 393.93 518.25 Td (do ) Tj ET Q q 0 0 0 rg BT 407.02 518.25 Td (not ) Tj ET Q q 0 0 0 rg BT 422.60 518.25 Td (infringe ) Tj ET Q q 0 0 0 rg BT 455.20 518.25 Td (on ) Tj ET Q q 0 0 0 rg BT 468.29 518.25 Td (the ) Tj ET Q q 0 0 0 rg BT 483.88 518.25 Td (intellectual ) Tj ET Q q 0 0 0 rg BT 529.48 518.25 Td (property ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 504.75 Td (rights ) Tj ET Q q 0 0 0 rg BT 96.25 504.75 Td (of ) Tj ET Q q 0 0 0 rg BT 105.99 504.75 Td (third ) Tj ET Q q 0 0 0 rg BT 125.74 504.75 Td (parties ) Tj ET Q q 0 0 0 rg BT 154.99 504.75 Td (may ) Tj ET Q q 0 0 0 rg BT 174.23 504.75 Td (not ) Tj ET Q q 0 0 0 rg BT 188.98 504.75 Td (be ) Tj ET Q q 0 0 0 rg BT 201.23 504.75 Td (adequate ) Tj ET Q q 0 0 0 rg BT 241.01 504.75 Td (to ) Tj ET Q q 0 0 0 rg BT 250.76 504.75 Td (prevent ) Tj ET Q q 0 0 0 rg BT 283.01 504.75 Td (infringement ) Tj ET Q q 0 0 0 rg BT 334.78 504.75 Td (and, ) Tj ET Q q 0 0 0 rg BT 354.54 504.75 Td (as ) Tj ET Q q 0 0 0 rg BT 366.28 504.75 Td (a ) Tj ET Q q 0 0 0 rg BT 373.53 504.75 Td (result, ) Tj ET Q q 0 0 0 rg BT 400.27 504.75 Td (claims ) Tj ET Q q 0 0 0 rg BT 428.01 504.75 Td (may ) Tj ET Q q 0 0 0 rg BT 447.26 504.75 Td (be ) Tj ET Q q 0 0 0 rg BT 459.51 504.75 Td (asserted ) Tj ET Q q 0 0 0 rg BT 496.26 504.75 Td (against ) Tj ET Q q 0 0 0 rg BT 527.52 504.75 Td (us ) Tj ET Q q 0 0 0 rg BT 539.27 504.75 Td (or ) Tj ET Q q 0 0 0 rg BT 549.51 504.75 Td (our ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 491.25 Td (clients. ) Tj ET Q q 0 0 0 rg BT 101.71 491.25 Td (W) Tj ET Q q 0 0 0 rg BT 110.04 491.25 Td (e ) Tj ET Q q 0 0 0 rg BT 116.75 491.25 Td (enter ) Tj ET Q q 0 0 0 rg BT 138.96 491.25 Td (into ) Tj ET Q q 0 0 0 rg BT 155.17 491.25 Td (licensing ) Tj ET Q q 0 0 0 rg BT 191.89 491.25 Td (agreements ) Tj ET Q q 0 0 0 rg BT 241.12 491.25 Td (for ) Tj ET Q q 0 0 0 rg BT 253.32 491.25 Td (the ) Tj ET Q q 0 0 0 rg BT 267.53 491.25 Td (right ) Tj ET Q q 0 0 0 rg BT 286.74 491.25 Td (to ) Tj ET Q q 0 0 0 rg BT 295.94 491.25 Td (use ) Tj ET Q q 0 0 0 rg BT 312.15 491.25 Td (intellectual ) Tj ET Q q 0 0 0 rg BT 356.38 491.25 Td (property ) Tj ET Q q 0 0 0 rg BT 391.10 491.25 Td (and ) Tj ET Q q 0 0 0 rg BT 407.81 491.25 Td (may ) Tj ET Q q 0 0 0 rg BT 426.51 491.25 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 466.73 491.25 Td (of) Tj ET Q q 0 0 0 rg BT 474.08 491.25 Td (fer ) Tj ET Q q 0 0 0 rg BT 486.28 491.25 Td (indemnities ) Tj ET Q q 0 0 0 rg BT 533.50 491.25 Td (against ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 477.75 Td (liability ) Tj ET Q q 0 0 0 rg BT 101.35 477.75 Td (and ) Tj ET Q q 0 0 0 rg BT 118.71 477.75 Td (damages ) Tj ET Q q 0 0 0 rg BT 158.07 477.75 Td (arising ) Tj ET Q q 0 0 0 rg BT 186.92 477.75 Td (from ) Tj ET Q q 0 0 0 rg BT 207.26 477.75 Td (third-party ) Tj ET Q q 0 0 0 rg BT 250.12 477.75 Td (claims ) Tj ET Q q 0 0 0 rg BT 277.96 477.75 Td (of ) Tj ET Q q 0 0 0 rg BT 287.80 477.75 Td (patent, ) Tj ET Q q 0 0 0 rg BT 317.67 477.75 Td (copyright, ) Tj ET Q q 0 0 0 rg BT 359.03 477.75 Td (trademark ) Tj ET Q q 0 0 0 rg BT 401.88 477.75 Td (or ) Tj ET Q q 0 0 0 rg BT 412.22 477.75 Td (trade ) Tj ET Q q 0 0 0 rg BT 435.08 477.75 Td (secret ) Tj ET Q q 0 0 0 rg BT 461.93 477.75 Td (infringement ) Tj ET Q q 0 0 0 rg BT 513.79 477.75 Td (in ) Tj ET Q q 0 0 0 rg BT 523.14 477.75 Td (respect ) Tj ET Q q 0 0 0 rg BT 554.99 477.75 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 464.25 Td (our ) Tj ET Q q 0 0 0 rg BT 87.34 464.25 Td (own ) Tj ET Q q 0 0 0 rg BT 106.17 464.25 Td (intellectual ) Tj ET Q q 0 0 0 rg BT 151.03 464.25 Td (property ) Tj ET Q q 0 0 0 rg BT 186.37 464.25 Td (or ) Tj ET Q q 0 0 0 rg BT 196.70 464.25 Td (software ) Tj ET Q q 0 0 0 rg BT 233.04 464.25 Td (or ) Tj ET Q q 0 0 0 rg BT 243.38 464.25 Td (other ) Tj ET Q q 0 0 0 rg BT 266.22 464.25 Td (solutions ) Tj ET Q q 0 0 0 rg BT 304.07 464.25 Td (developed ) Tj ET Q q 0 0 0 rg BT 347.93 464.25 Td (for ) Tj ET Q q 0 0 0 rg BT 360.76 464.25 Td (our ) Tj ET Q q 0 0 0 rg BT 376.10 464.25 Td (clients. ) Tj ET Q q 0 0 0 rg BT 406.44 464.25 Td (In ) Tj ET Q q 0 0 0 rg BT 416.27 464.25 Td (some ) Tj ET Q q 0 0 0 rg BT 440.61 464.25 Td (instances, ) Tj ET Q q 0 0 0 rg BT 483.46 464.25 Td (the ) Tj ET Q q 0 0 0 rg BT 498.30 464.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 530.64 464.25 Td (of ) Tj ET Q q 0 0 0 rg BT 540.48 464.25 Td (these ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 450.75 Td (indemnity ) Tj ET Q q 0 0 0 rg BT 113.03 450.75 Td (claims ) Tj ET Q q 0 0 0 rg BT 141.05 450.75 Td (could ) Tj ET Q q 0 0 0 rg BT 165.08 450.75 Td (be ) Tj ET Q q 0 0 0 rg BT 177.61 450.75 Td (greater ) Tj ET Q q 0 0 0 rg BT 208.64 450.75 Td (than ) Tj ET Q q 0 0 0 rg BT 228.67 450.75 Td (the ) Tj ET Q q 0 0 0 rg BT 243.70 450.75 Td (revenue ) Tj ET Q q 0 0 0 rg BT 278.73 450.75 Td (we ) Tj ET Q q 0 0 0 rg BT 292.75 450.75 Td (receive ) Tj ET Q q 0 0 0 rg BT 324.28 450.75 Td (from ) Tj ET Q q 0 0 0 rg BT 344.80 450.75 Td (the ) Tj ET Q q 0 0 0 rg BT 359.82 450.75 Td (client. ) Tj ET Q q 0 0 0 rg BT 385.85 450.75 Td (Intellectual ) Tj ET Q q 0 0 0 rg BT 431.39 450.75 Td (property ) Tj ET Q q 0 0 0 rg BT 466.92 450.75 Td (claims ) Tj ET Q q 0 0 0 rg BT 494.94 450.75 Td (or ) Tj ET Q q 0 0 0 rg BT 505.46 450.75 Td (litigation ) Tj ET Q q 0 0 0 rg BT 540.99 450.75 Td (could ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 437.25 Td (be ) Tj ET Q q 0 0 0 rg BT 84.77 437.25 Td (time-consuming ) Tj ET Q q 0 0 0 rg BT 151.06 437.25 Td (and ) Tj ET Q q 0 0 0 rg BT 168.83 437.25 Td (costly) Tj ET Q q 0 0 0 rg BT 191.17 437.25 Td (, ) Tj ET Q q 0 0 0 rg BT 196.43 437.25 Td (harm ) Tj ET Q q 0 0 0 rg BT 219.70 437.25 Td (our ) Tj ET Q q 0 0 0 rg BT 235.46 437.25 Td (reputation, ) Tj ET Q q 0 0 0 rg BT 280.76 437.25 Td (require ) Tj ET Q q 0 0 0 rg BT 311.53 437.25 Td (us ) Tj ET Q q 0 0 0 rg BT 323.80 437.25 Td (to ) Tj ET Q q 0 0 0 rg BT 334.06 437.25 Td (enter ) Tj ET Q q 0 0 0 rg BT 357.34 437.25 Td (into ) Tj ET Q q 0 0 0 rg BT 374.61 437.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 415.90 437.25 Td (royalty ) Tj ET Q q 0 0 0 rg BT 445.17 437.25 Td (or ) Tj ET Q q 0 0 0 rg BT 455.93 437.25 Td (licensing ) Tj ET Q q 0 0 0 rg BT 493.71 437.25 Td (arrangements, ) Tj ET Q q 0 0 0 rg BT 554.51 437.25 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 423.75 Td (prevent ) Tj ET Q q 0 0 0 rg BT 105.22 423.75 Td (us ) Tj ET Q q 0 0 0 rg BT 117.92 423.75 Td (from ) Tj ET Q q 0 0 0 rg BT 139.11 423.75 Td (providing ) Tj ET Q q 0 0 0 rg BT 178.83 423.75 Td (some ) Tj ET Q q 0 0 0 rg BT 204.04 423.75 Td (solutions ) Tj ET Q q 0 0 0 rg BT 242.75 423.75 Td (or ) Tj ET Q q 0 0 0 rg BT 253.95 423.75 Td (services. ) Tj ET Q q 0 0 0 rg BT 292.02 423.75 Td (Any ) Tj ET Q q 0 0 0 rg BT 310.73 423.75 Td (limitation ) Tj ET Q q 0 0 0 rg BT 349.44 423.75 Td (on ) Tj ET Q q 0 0 0 rg BT 362.64 423.75 Td (our ) Tj ET Q q 0 0 0 rg BT 378.85 423.75 Td (ability ) Tj ET Q q 0 0 0 rg BT 405.05 423.75 Td (to ) Tj ET Q q 0 0 0 rg BT 415.75 423.75 Td (sell ) Tj ET Q q 0 0 0 rg BT 432.46 423.75 Td (or ) Tj ET Q q 0 0 0 rg BT 443.65 423.75 Td (use ) Tj ET Q q 0 0 0 rg BT 461.36 423.75 Td (solutions ) Tj ET Q q 0 0 0 rg BT 500.08 423.75 Td (or ) Tj ET Q q 0 0 0 rg BT 511.28 423.75 Td (services ) Tj ET Q q 0 0 0 rg BT 547.48 423.75 Td (that ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 410.25 Td (incorporate ) Tj ET Q q 0 0 0 rg BT 119.48 410.25 Td (software ) Tj ET Q q 0 0 0 rg BT 155.95 410.25 Td (or ) Tj ET Q q 0 0 0 rg BT 166.40 410.25 Td (technologies ) Tj ET Q q 0 0 0 rg BT 219.40 410.25 Td (that ) Tj ET Q q 0 0 0 rg BT 236.86 410.25 Td (are ) Tj ET Q q 0 0 0 rg BT 252.32 410.25 Td (the ) Tj ET Q q 0 0 0 rg BT 267.29 410.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 298.26 410.25 Td (of ) Tj ET Q q 0 0 0 rg BT 308.22 410.25 Td (a ) Tj ET Q q 0 0 0 rg BT 315.68 410.25 Td (claim ) Tj ET Q q 0 0 0 rg BT 339.13 410.25 Td (could ) Tj ET Q q 0 0 0 rg BT 363.10 410.25 Td (cause ) Tj ET Q q 0 0 0 rg BT 389.57 410.25 Td (us ) Tj ET Q q 0 0 0 rg BT 401.53 410.25 Td (to ) Tj ET Q q 0 0 0 rg BT 411.49 410.25 Td (lose ) Tj ET Q q 0 0 0 rg BT 430.46 410.25 Td (revenue-generating ) Tj ET Q q 0 0 0 rg BT 510.97 410.25 Td (opportunities ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 396.75 Td (or ) Tj ET Q q 0 0 0 rg BT 82.50 396.75 Td (require ) Tj ET Q q 0 0 0 rg BT 113.02 396.75 Td (us ) Tj ET Q q 0 0 0 rg BT 125.02 396.75 Td (to ) Tj ET Q q 0 0 0 rg BT 135.03 396.75 Td (incur ) Tj ET Q q 0 0 0 rg BT 157.04 396.75 Td (additional ) Tj ET Q q 0 0 0 rg BT 198.07 396.75 Td (expenses ) Tj ET Q q 0 0 0 rg BT 239.10 396.75 Td (to ) Tj ET Q q 0 0 0 rg BT 249.10 396.75 Td (modify ) Tj ET Q q 0 0 0 rg BT 278.11 396.75 Td (solutions ) Tj ET Q q 0 0 0 rg BT 316.13 396.75 Td (for ) Tj ET Q q 0 0 0 rg BT 329.14 396.75 Td (future ) Tj ET Q q 0 0 0 rg BT 354.65 396.75 Td (projects.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 370.666796875 m 268.08544921875 370.666796875 l s q 0 0 0 rg BT 73.50 371.95 Td (Benchmarking ) Tj ET Q q 0 0 0 rg BT 133.53 371.95 Td (provisions ) Tj ET Q q 0 0 0 rg BT 176.55 371.95 Td (within ) Tj ET Q q 0 0 0 rg BT 202.06 371.95 Td (certain ) Tj ET Q q 0 0 0 rg BT 231.57 371.95 Td (contracts) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 355.45 Td (Some ) Tj ET Q q 0 0 0 rg BT 98.32 355.45 Td (of ) Tj ET Q q 0 0 0 rg BT 108.63 355.45 Td (our ) Tj ET Q q 0 0 0 rg BT 124.45 355.45 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 173.79 355.45 Td (contracts ) Tj ET Q q 0 0 0 rg BT 213.11 355.45 Td (contain ) Tj ET Q q 0 0 0 rg BT 244.94 355.45 Td (clauses ) Tj ET Q q 0 0 0 rg BT 278.26 355.45 Td (allowing ) Tj ET Q q 0 0 0 rg BT 313.59 355.45 Td (our ) Tj ET Q q 0 0 0 rg BT 329.41 355.45 Td (clients ) Tj ET Q q 0 0 0 rg BT 357.72 355.45 Td (to ) Tj ET Q q 0 0 0 rg BT 368.04 355.45 Td (externally ) Tj ET Q q 0 0 0 rg BT 409.36 355.45 Td (benchmark ) Tj ET Q q 0 0 0 rg BT 456.69 355.45 Td (the ) Tj ET Q q 0 0 0 rg BT 472.01 355.45 Td (pricing ) Tj ET Q q 0 0 0 rg BT 501.33 355.45 Td (of ) Tj ET Q q 0 0 0 rg BT 511.65 355.45 Td (agreed ) Tj ET Q q 0 0 0 rg BT 542.48 355.45 Td (upon ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 341.95 Td (services ) Tj ET Q q 0 0 0 rg BT 106.73 341.95 Td (against ) Tj ET Q q 0 0 0 rg BT 137.47 341.95 Td (those ) Tj ET Q q 0 0 0 rg BT 161.21 341.95 Td (of) Tj ET Q q 0 0 0 rg BT 168.56 341.95 Td (fered ) Tj ET Q q 0 0 0 rg BT 190.79 341.95 Td (by ) Tj ET Q q 0 0 0 rg BT 202.02 341.95 Td (other ) Tj ET Q q 0 0 0 rg BT 224.26 341.95 Td (providers ) Tj ET Q q 0 0 0 rg BT 263.00 341.95 Td (in ) Tj ET Q q 0 0 0 rg BT 271.72 341.95 Td (a ) Tj ET Q q 0 0 0 rg BT 278.45 341.95 Td (peer ) Tj ET Q q 0 0 0 rg BT 298.19 341.95 Td (comparison ) Tj ET Q q 0 0 0 rg BT 346.43 341.95 Td (group. ) Tj ET Q q 0 0 0 rg BT 373.56 341.95 Td (The ) Tj ET Q q 0 0 0 rg BT 390.79 341.95 Td (uniqueness ) Tj ET Q q 0 0 0 rg BT 438.55 341.95 Td (of ) Tj ET Q q 0 0 0 rg BT 447.78 341.95 Td (the ) Tj ET Q q 0 0 0 rg BT 462.01 341.95 Td (client ) Tj ET Q q 0 0 0 rg BT 484.75 341.95 Td (environment ) Tj ET Q q 0 0 0 rg BT 535.99 341.95 Td (should ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 328.45 Td (be ) Tj ET Q q 0 0 0 rg BT 84.32 328.45 Td (factored ) Tj ET Q q 0 0 0 rg BT 119.14 328.45 Td (in ) Tj ET Q q 0 0 0 rg BT 128.45 328.45 Td (and, ) Tj ET Q q 0 0 0 rg BT 148.27 328.45 Td (if ) Tj ET Q q 0 0 0 rg BT 155.08 328.45 Td (results ) Tj ET Q q 0 0 0 rg BT 183.89 328.45 Td (indicate ) Tj ET Q q 0 0 0 rg BT 217.22 328.45 Td (a ) Tj ET Q q 0 0 0 rg BT 224.53 328.45 Td (dif) Tj ET Q q 0 0 0 rg BT 233.87 328.45 Td (ference ) Tj ET Q q 0 0 0 rg BT 266.19 328.45 Td (outside ) Tj ET Q q 0 0 0 rg BT 297.52 328.45 Td (the ) Tj ET Q q 0 0 0 rg BT 312.34 328.45 Td (agreed ) Tj ET Q q 0 0 0 rg BT 342.67 328.45 Td (upon ) Tj ET Q q 0 0 0 rg BT 364.99 328.45 Td (tolerance, ) Tj ET Q q 0 0 0 rg BT 406.82 328.45 Td (we ) Tj ET Q q 0 0 0 rg BT 420.63 328.45 Td (may ) Tj ET Q q 0 0 0 rg BT 439.94 328.45 Td (be ) Tj ET Q q 0 0 0 rg BT 452.26 328.45 Td (required ) Tj ET Q q 0 0 0 rg BT 487.58 328.45 Td (to ) Tj ET Q q 0 0 0 rg BT 497.39 328.45 Td (work ) Tj ET Q q 0 0 0 rg BT 518.70 328.45 Td (with ) Tj ET Q q 0 0 0 rg BT 537.01 328.45 Td (clients ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 314.95 Td (to ) Tj ET Q q 0 0 0 rg BT 82.69 314.95 Td (reset ) Tj ET Q q 0 0 0 rg BT 105.88 314.95 Td (the ) Tj ET Q q 0 0 0 rg BT 121.57 314.95 Td (pricing ) Tj ET Q q 0 0 0 rg BT 151.27 314.95 Td (for ) Tj ET Q q 0 0 0 rg BT 164.96 314.95 Td (their ) Tj ET Q q 0 0 0 rg BT 185.65 314.95 Td (services. ) Tj ET Q q 0 0 0 rg BT 224.13 314.95 Td (There ) Tj ET Q q 0 0 0 rg BT 250.82 314.95 Td (can ) Tj ET Q q 0 0 0 rg BT 268.52 314.95 Td (be ) Tj ET Q q 0 0 0 rg BT 281.71 314.95 Td (no ) Tj ET Q q 0 0 0 rg BT 294.91 314.95 Td (assurance ) Tj ET Q q 0 0 0 rg BT 339.61 314.95 Td (that ) Tj ET Q q 0 0 0 rg BT 357.81 314.95 Td (benchmarks ) Tj ET Q q 0 0 0 rg BT 410.01 314.95 Td (will ) Tj ET Q q 0 0 0 rg BT 425.69 314.95 Td (produce ) Tj ET Q q 0 0 0 rg BT 461.40 314.95 Td (accurate ) Tj ET Q q 0 0 0 rg BT 499.10 314.95 Td (or ) Tj ET Q q 0 0 0 rg BT 510.29 314.95 Td (reliable ) Tj ET Q q 0 0 0 rg BT 542.49 314.95 Td (data, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 301.45 Td (including ) Tj ET Q q 0 0 0 rg BT 110.03 301.45 Td (pricing ) Tj ET Q q 0 0 0 rg BT 139.04 301.45 Td (data. ) Tj ET Q q 0 0 0 rg BT 161.39 301.45 Td (This ) Tj ET Q q 0 0 0 rg BT 180.90 301.45 Td (may ) Tj ET Q q 0 0 0 rg BT 200.40 301.45 Td (result ) Tj ET Q q 0 0 0 rg BT 224.91 301.45 Td (in ) Tj ET Q q 0 0 0 rg BT 234.41 301.45 Td (pressure ) Tj ET Q q 0 0 0 rg BT 271.93 301.45 Td (on ) Tj ET Q q 0 0 0 rg BT 284.44 301.45 Td (our ) Tj ET Q q 0 0 0 rg BT 299.95 301.45 Td (revenue, ) Tj ET Q q 0 0 0 rg BT 337.47 301.45 Td (net ) Tj ET Q q 0 0 0 rg BT 352.49 301.45 Td (earnings ) Tj ET Q q 0 0 0 rg BT 389.51 301.45 Td (and ) Tj ET Q q 0 0 0 rg BT 407.03 301.45 Td (resulting ) Tj ET Q q 0 0 0 rg BT 443.54 301.45 Td (cash ) Tj ET Q q 0 0 0 rg BT 465.06 301.45 Td (flows ) Tj ET Q q 0 0 0 rg BT 488.06 301.45 Td (from ) Tj ET Q q 0 0 0 rg BT 508.56 301.45 Td (operations.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 275.366796875 m 234.58154296875 275.366796875 l s q 0 0 0 rg BT 73.50 276.65 Td (Protecting ) Tj ET Q q 0 0 0 rg BT 116.52 276.65 Td (our ) Tj ET Q q 0 0 0 rg BT 132.03 276.65 Td (intellectual ) Tj ET Q q 0 0 0 rg BT 177.06 276.65 Td (property ) Tj ET Q q 0 0 0 rg BT 212.57 276.65 Td (rights) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 260.15 Td (Our ) Tj ET Q q 0 0 0 rg BT 88.99 260.15 Td (success ) Tj ET Q q 0 0 0 rg BT 123.48 260.15 Td (depends, ) Tj ET Q q 0 0 0 rg BT 162.50 260.15 Td (in ) Tj ET Q q 0 0 0 rg BT 171.49 260.15 Td (part, ) Tj ET Q q 0 0 0 rg BT 191.48 260.15 Td (on ) Tj ET Q q 0 0 0 rg BT 203.47 260.15 Td (our ) Tj ET Q q 0 0 0 rg BT 218.47 260.15 Td (ability ) Tj ET Q q 0 0 0 rg BT 243.46 260.15 Td (to ) Tj ET Q q 0 0 0 rg BT 252.95 260.15 Td (protect ) Tj ET Q q 0 0 0 rg BT 282.45 260.15 Td (our ) Tj ET Q q 0 0 0 rg BT 297.44 260.15 Td (proprietary ) Tj ET Q q 0 0 0 rg BT 342.44 260.15 Td (methodologies, ) Tj ET Q q 0 0 0 rg BT 405.46 260.15 Td (processes, ) Tj ET Q q 0 0 0 rg BT 450.97 260.15 Td (know-how) Tj ET Q q 0 0 0 rg BT 490.99 260.15 Td (, ) Tj ET Q q 0 0 0 rg BT 495.47 260.15 Td (tools, ) Tj ET Q q 0 0 0 rg BT 518.97 260.15 Td (techniques ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 246.65 Td (and ) Tj ET Q q 0 0 0 rg BT 88.68 246.65 Td (other ) Tj ET Q q 0 0 0 rg BT 110.86 246.65 Td (intellectual ) Tj ET Q q 0 0 0 rg BT 155.04 246.65 Td (property ) Tj ET Q q 0 0 0 rg BT 189.72 246.65 Td (that ) Tj ET Q q 0 0 0 rg BT 206.40 246.65 Td (we ) Tj ET Q q 0 0 0 rg BT 219.57 246.65 Td (use ) Tj ET Q q 0 0 0 rg BT 235.74 246.65 Td (to ) Tj ET Q q 0 0 0 rg BT 244.91 246.65 Td (provide ) Tj ET Q q 0 0 0 rg BT 276.09 246.65 Td (our ) Tj ET Q q 0 0 0 rg BT 290.76 246.65 Td (services. ) Tj ET Q q 0 0 0 rg BT 327.93 246.65 Td (CGI) Tj ET Q q 0 0 0 rg BT 345.77 246.65 Td (s ) Tj ET Q q 0 0 0 rg BT 351.93 246.65 Td (business ) Tj ET Q q 0 0 0 rg BT 389.12 246.65 Td (solutions ) Tj ET Q q 0 0 0 rg BT 426.30 246.65 Td (will ) Tj ET Q q 0 0 0 rg BT 440.46 246.65 Td (generally ) Tj ET Q q 0 0 0 rg BT 478.65 246.65 Td (benefit ) Tj ET Q q 0 0 0 rg BT 507.33 246.65 Td (from ) Tj ET Q q 0 0 0 rg BT 527.00 246.65 Td (available ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 233.15 Td (copyright ) Tj ET Q q 0 0 0 rg BT 111.30 233.15 Td (protection ) Tj ET Q q 0 0 0 rg BT 153.61 233.15 Td (and, ) Tj ET Q q 0 0 0 rg BT 173.90 233.15 Td (in ) Tj ET Q q 0 0 0 rg BT 183.69 233.15 Td (some ) Tj ET Q q 0 0 0 rg BT 208.48 233.15 Td (cases, ) Tj ET Q q 0 0 0 rg BT 237.27 233.15 Td (patent ) Tj ET Q q 0 0 0 rg BT 265.07 233.15 Td (protection. ) Tj ET Q q 0 0 0 rg BT 309.33 233.15 Td (Although ) Tj ET Q q 0 0 0 rg BT 347.64 233.15 Td (CGI ) Tj ET Q q 0 0 0 rg BT 366.42 233.15 Td (takes ) Tj ET Q q 0 0 0 rg BT 390.71 233.15 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 438.03 233.15 Td (steps ) Tj ET Q q 0 0 0 rg BT 462.32 233.15 Td (to ) Tj ET Q q 0 0 0 rg BT 472.61 233.15 Td (protect ) Tj ET Q q 0 0 0 rg BT 502.90 233.15 Td (and ) Tj ET Q q 0 0 0 rg BT 520.70 233.15 Td (enforce ) Tj ET Q q 0 0 0 rg BT 553.50 233.15 Td (its ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 219.65 Td (intellectual ) Tj ET Q q 0 0 0 rg BT 116.99 219.65 Td (property ) Tj ET Q q 0 0 0 rg BT 152.47 219.65 Td (rights, ) Tj ET Q q 0 0 0 rg BT 179.45 219.65 Td (there ) Tj ET Q q 0 0 0 rg BT 202.43 219.65 Td (is ) Tj ET Q q 0 0 0 rg BT 211.40 219.65 Td (no ) Tj ET Q q 0 0 0 rg BT 223.87 219.65 Td (assurance ) Tj ET Q q 0 0 0 rg BT 267.86 219.65 Td (that ) Tj ET Q q 0 0 0 rg BT 285.34 219.65 Td (such ) Tj ET Q q 0 0 0 rg BT 306.82 219.65 Td (measures ) Tj ET Q q 0 0 0 rg BT 348.80 219.65 Td (will ) Tj ET Q q 0 0 0 rg BT 363.76 219.65 Td (be ) Tj ET Q q 0 0 0 rg BT 376.24 219.65 Td (enforceable ) Tj ET Q q 0 0 0 rg BT 425.74 219.65 Td (or ) Tj ET Q q 0 0 0 rg BT 436.21 219.65 Td (adequate. ) Tj ET Q q 0 0 0 rg BT 478.56 219.65 Td (The ) Tj ET Q q 0 0 0 rg BT 496.53 219.65 Td (cost ) Tj ET Q q 0 0 0 rg BT 515.50 219.65 Td (of ) Tj ET Q q 0 0 0 rg BT 525.47 219.65 Td (enforcing ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 206.15 Td (our ) Tj ET Q q 0 0 0 rg BT 87.73 206.15 Td (rights ) Tj ET Q q 0 0 0 rg BT 112.47 206.15 Td (can ) Tj ET Q q 0 0 0 rg BT 129.71 206.15 Td (be ) Tj ET Q q 0 0 0 rg BT 142.44 206.15 Td (substantial ) Tj ET Q q 0 0 0 rg BT 188.20 206.15 Td (and, ) Tj ET Q q 0 0 0 rg BT 208.44 206.15 Td (in ) Tj ET Q q 0 0 0 rg BT 218.17 206.15 Td (certain ) Tj ET Q q 0 0 0 rg BT 247.91 206.15 Td (cases, ) Tj ET Q q 0 0 0 rg BT 276.65 206.15 Td (may ) Tj ET Q q 0 0 0 rg BT 296.38 206.15 Td (prove ) Tj ET Q q 0 0 0 rg BT 321.62 206.15 Td (to ) Tj ET Q q 0 0 0 rg BT 331.85 206.15 Td (be ) Tj ET Q q 0 0 0 rg BT 344.59 206.15 Td (uneconomic. ) Tj ET Q q 0 0 0 rg BT 398.34 206.15 Td (In ) Tj ET Q q 0 0 0 rg BT 408.58 206.15 Td (addition, ) Tj ET Q q 0 0 0 rg BT 445.33 206.15 Td (the ) Tj ET Q q 0 0 0 rg BT 460.57 206.15 Td (laws ) Tj ET Q q 0 0 0 rg BT 481.30 206.15 Td (of ) Tj ET Q q 0 0 0 rg BT 491.53 206.15 Td (some ) Tj ET Q q 0 0 0 rg BT 516.26 206.15 Td (countries ) Tj ET Q q 0 0 0 rg BT 555.51 206.15 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 192.65 Td (which ) Tj ET Q q 0 0 0 rg BT 97.66 192.65 Td (we ) Tj ET Q q 0 0 0 rg BT 111.82 192.65 Td (conduct ) Tj ET Q q 0 0 0 rg BT 146.00 192.65 Td (business ) Tj ET Q q 0 0 0 rg BT 184.17 192.65 Td (may ) Tj ET Q q 0 0 0 rg BT 203.83 192.65 Td (of) Tj ET Q q 0 0 0 rg BT 211.17 192.65 Td (fer ) Tj ET Q q 0 0 0 rg BT 224.33 192.65 Td (only ) Tj ET Q q 0 0 0 rg BT 243.49 192.65 Td (limited ) Tj ET Q q 0 0 0 rg BT 272.15 192.65 Td (intellectual ) Tj ET Q q 0 0 0 rg BT 317.33 192.65 Td (property ) Tj ET Q q 0 0 0 rg BT 353.00 192.65 Td (rights ) Tj ET Q q 0 0 0 rg BT 377.66 192.65 Td (protection. ) Tj ET Q q 0 0 0 rg BT 422.34 192.65 Td (Despite ) Tj ET Q q 0 0 0 rg BT 455.51 192.65 Td (our ) Tj ET Q q 0 0 0 rg BT 471.17 192.65 Td (ef) Tj ET Q q 0 0 0 rg BT 478.51 192.65 Td (forts, ) Tj ET Q q 0 0 0 rg BT 501.17 192.65 Td (the ) Tj ET Q q 0 0 0 rg BT 516.33 192.65 Td (steps ) Tj ET Q q 0 0 0 rg BT 540.50 192.65 Td (taken ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 179.15 Td (to ) Tj ET Q q 0 0 0 rg BT 81.13 179.15 Td (protect ) Tj ET Q q 0 0 0 rg BT 110.27 179.15 Td (our ) Tj ET Q q 0 0 0 rg BT 124.90 179.15 Td (intellectual ) Tj ET Q q 0 0 0 rg BT 169.05 179.15 Td (property ) Tj ET Q q 0 0 0 rg BT 203.69 179.15 Td (may ) Tj ET Q q 0 0 0 rg BT 222.32 179.15 Td (not ) Tj ET Q q 0 0 0 rg BT 236.45 179.15 Td (be ) Tj ET Q q 0 0 0 rg BT 248.09 179.15 Td (adequate ) Tj ET Q q 0 0 0 rg BT 287.25 179.15 Td (to ) Tj ET Q q 0 0 0 rg BT 296.38 179.15 Td (prevent ) Tj ET Q q 0 0 0 rg BT 328.02 179.15 Td (or ) Tj ET Q q 0 0 0 rg BT 337.65 179.15 Td (deter ) Tj ET Q q 0 0 0 rg BT 359.79 179.15 Td (infringement ) Tj ET Q q 0 0 0 rg BT 410.94 179.15 Td (or ) Tj ET Q q 0 0 0 rg BT 420.56 179.15 Td (other ) Tj ET Q q 0 0 0 rg BT 442.70 179.15 Td (misappropriation ) Tj ET Q q 0 0 0 rg BT 510.86 179.15 Td (of ) Tj ET Q q 0 0 0 rg BT 519.99 179.15 Td (intellectual ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 165.65 Td (property) Tj ET Q q 0 0 0 rg BT 104.35 165.65 Td (, ) Tj ET Q q 0 0 0 rg BT 109.18 165.65 Td (and ) Tj ET Q q 0 0 0 rg BT 126.52 165.65 Td (we ) Tj ET Q q 0 0 0 rg BT 140.35 165.65 Td (may ) Tj ET Q q 0 0 0 rg BT 159.68 165.65 Td (not ) Tj ET Q q 0 0 0 rg BT 174.52 165.65 Td (be ) Tj ET Q q 0 0 0 rg BT 186.86 165.65 Td (able ) Tj ET Q q 0 0 0 rg BT 206.20 165.65 Td (to ) Tj ET Q q 0 0 0 rg BT 216.03 165.65 Td (detect ) Tj ET Q q 0 0 0 rg BT 242.88 165.65 Td (unauthorized ) Tj ET Q q 0 0 0 rg BT 297.24 165.65 Td (use ) Tj ET Q q 0 0 0 rg BT 314.08 165.65 Td (of ) Tj ET Q q 0 0 0 rg BT 323.92 165.65 Td (our ) Tj ET Q q 0 0 0 rg BT 339.25 165.65 Td (intellectual ) Tj ET Q q 0 0 0 rg BT 384.10 165.65 Td (property) Tj ET Q q 0 0 0 rg BT 416.45 165.65 Td (, ) Tj ET Q q 0 0 0 rg BT 421.28 165.65 Td (or ) Tj ET Q q 0 0 0 rg BT 431.61 165.65 Td (take ) Tj ET Q q 0 0 0 rg BT 450.95 165.65 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 498.81 165.65 Td (steps ) Tj ET Q q 0 0 0 rg BT 522.64 165.65 Td (to ) Tj ET Q q 0 0 0 rg BT 532.48 165.65 Td (enforce ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 152.15 Td (our ) Tj ET Q q 0 0 0 rg BT 87.51 152.15 Td (intellectual ) Tj ET Q q 0 0 0 rg BT 132.53 152.15 Td (property ) Tj ET Q q 0 0 0 rg BT 168.05 152.15 Td (rights.) Tj ET Q endstream endobj 101 0 obj <> endobj 102 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (49) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 708.95 Td (10.1.3. ) Tj ET Q q 0 0 0 rg BT 103.52 708.95 Td (Risks ) Tj ET Q q 0 0 0 rg BT 130.04 708.95 Td (Related ) Tj ET Q q 0 0 0 rg BT 165.05 708.95 Td (to ) Tj ET Q q 0 0 0 rg BT 176.05 708.95 Td (our ) Tj ET Q q 0 0 0 rg BT 193.04 708.95 Td (Business) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 687.866796875 m 239.068359375 687.866796875 l s q 0 0 0 rg BT 73.50 689.15 Td (Risks ) Tj ET Q q 0 0 0 rg BT 98.00 689.15 Td (associated ) Tj ET Q q 0 0 0 rg BT 143.53 689.15 Td (with ) Tj ET Q q 0 0 0 rg BT 162.03 689.15 Td (our ) Tj ET Q q 0 0 0 rg BT 177.54 689.15 Td (growth ) Tj ET Q q 0 0 0 rg BT 207.05 689.15 Td (strategy) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 672.65 Td (CGI) Tj ET Q q 0 0 0 rg BT 89.84 672.65 Td (s ) Tj ET Q q 0 0 0 rg BT 97.12 672.65 Td (Build ) Tj ET Q q 0 0 0 rg BT 119.92 672.65 Td (and ) Tj ET Q q 0 0 0 rg BT 137.72 672.65 Td (Buy ) Tj ET Q q 0 0 0 rg BT 156.02 672.65 Td (strategy ) Tj ET Q q 0 0 0 rg BT 190.82 672.65 Td (is ) Tj ET Q q 0 0 0 rg BT 200.10 672.65 Td (founded ) Tj ET Q q 0 0 0 rg BT 235.42 672.65 Td (on ) Tj ET Q q 0 0 0 rg BT 248.22 672.65 Td (four ) Tj ET Q q 0 0 0 rg BT 266.52 672.65 Td (pillars ) Tj ET Q q 0 0 0 rg BT 292.81 672.65 Td (of ) Tj ET Q q 0 0 0 rg BT 303.10 672.65 Td (growth: ) Tj ET Q q 0 0 0 rg BT 335.40 672.65 Td (first, ) Tj ET Q q 0 0 0 rg BT 355.18 672.65 Td (organic ) Tj ET Q q 0 0 0 rg BT 387.49 672.65 Td (growth ) Tj ET Q q 0 0 0 rg BT 417.29 672.65 Td (through ) Tj ET Q q 0 0 0 rg BT 450.60 672.65 Td (contract ) Tj ET Q q 0 0 0 rg BT 485.40 672.65 Td (wins, ) Tj ET Q q 0 0 0 rg BT 508.69 672.65 Td (renewals ) Tj ET Q q 0 0 0 rg BT 547.49 672.65 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 659.15 Td (extensions ) Tj ET Q q 0 0 0 rg BT 117.35 659.15 Td (in ) Tj ET Q q 0 0 0 rg BT 126.69 659.15 Td (the ) Tj ET Q q 0 0 0 rg BT 141.52 659.15 Td (areas ) Tj ET Q q 0 0 0 rg BT 166.36 659.15 Td (of ) Tj ET Q q 0 0 0 rg BT 176.20 659.15 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 225.05 659.15 Td (and ) Tj ET Q q 0 0 0 rg BT 242.40 659.15 Td (system ) Tj ET Q q 0 0 0 rg BT 273.23 659.15 Td (integration; ) Tj ET Q q 0 0 0 rg BT 320.08 659.15 Td (second, ) Tj ET Q q 0 0 0 rg BT 353.93 659.15 Td (the ) Tj ET Q q 0 0 0 rg BT 368.77 659.15 Td (pursuit ) Tj ET Q q 0 0 0 rg BT 398.11 659.15 Td (of ) Tj ET Q q 0 0 0 rg BT 407.95 659.15 Td (new ) Tj ET Q q 0 0 0 rg BT 426.78 659.15 Td (large ) Tj ET Q q 0 0 0 rg BT 449.12 659.15 Td (transformational ) Tj ET Q q 0 0 0 rg BT 515.98 659.15 Td (outsourcing ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 645.65 Td (contracts; ) Tj ET Q q 0 0 0 rg BT 113.52 645.65 Td (third, ) Tj ET Q q 0 0 0 rg BT 136.02 645.65 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 185.55 645.65 Td (of ) Tj ET Q q 0 0 0 rg BT 195.56 645.65 Td (smaller ) Tj ET Q q 0 0 0 rg BT 227.06 645.65 Td (firms ) Tj ET Q q 0 0 0 rg BT 249.06 645.65 Td (or ) Tj ET Q q 0 0 0 rg BT 259.56 645.65 Td (niche ) Tj ET Q q 0 0 0 rg BT 283.57 645.65 Td (players; ) Tj ET Q q 0 0 0 rg BT 317.59 645.65 Td (and ) Tj ET Q q 0 0 0 rg BT 335.10 645.65 Td (fourth, ) Tj ET Q q 0 0 0 rg BT 363.12 645.65 Td (transformational ) Tj ET Q q 0 0 0 rg BT 430.15 645.65 Td (acquisitions.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 626.15 Td (Our ) Tj ET Q q 0 0 0 rg BT 88.98 626.15 Td (ability ) Tj ET Q q 0 0 0 rg BT 113.96 626.15 Td (to ) Tj ET Q q 0 0 0 rg BT 123.44 626.15 Td (have ) Tj ET Q q 0 0 0 rg BT 144.93 626.15 Td (organic ) Tj ET Q q 0 0 0 rg BT 176.42 626.15 Td (growth ) Tj ET Q q 0 0 0 rg BT 205.40 626.15 Td (is ) Tj ET Q q 0 0 0 rg BT 213.88 626.15 Td (af) Tj ET Q q 0 0 0 rg BT 221.22 626.15 Td (fected ) Tj ET Q q 0 0 0 rg BT 247.71 626.15 Td (by ) Tj ET Q q 0 0 0 rg BT 259.19 626.15 Td (a ) Tj ET Q q 0 0 0 rg BT 266.17 626.15 Td (number ) Tj ET Q q 0 0 0 rg BT 298.66 626.15 Td (of ) Tj ET Q q 0 0 0 rg BT 308.14 626.15 Td (factors ) Tj ET Q q 0 0 0 rg BT 337.12 626.15 Td (outside ) Tj ET Q q 0 0 0 rg BT 368.11 626.15 Td (of ) Tj ET Q q 0 0 0 rg BT 377.59 626.15 Td (our ) Tj ET Q q 0 0 0 rg BT 392.57 626.15 Td (control, ) Tj ET Q q 0 0 0 rg BT 424.06 626.15 Td (including ) Tj ET Q q 0 0 0 rg BT 461.56 626.15 Td (a ) Tj ET Q q 0 0 0 rg BT 468.54 626.15 Td (lengthening ) Tj ET Q q 0 0 0 rg BT 517.05 626.15 Td (of ) Tj ET Q q 0 0 0 rg BT 526.53 626.15 Td (our ) Tj ET Q q 0 0 0 rg BT 541.51 626.15 Td (sales ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 612.65 Td (cycle ) Tj ET Q q 0 0 0 rg BT 95.01 612.65 Td (for ) Tj ET Q q 0 0 0 rg BT 108.01 612.65 Td (major ) Tj ET Q q 0 0 0 rg BT 133.01 612.65 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 182.04 612.65 Td (contracts.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 593.15 Td (Our ) Tj ET Q q 0 0 0 rg BT 89.71 593.15 Td (ability ) Tj ET Q q 0 0 0 rg BT 115.42 593.15 Td (to ) Tj ET Q q 0 0 0 rg BT 125.63 593.15 Td (grow ) Tj ET Q q 0 0 0 rg BT 147.84 593.15 Td (through ) Tj ET Q q 0 0 0 rg BT 181.07 593.15 Td (niche ) Tj ET Q q 0 0 0 rg BT 205.28 593.15 Td (and ) Tj ET Q q 0 0 0 rg BT 223.00 593.15 Td (transformational ) Tj ET Q q 0 0 0 rg BT 290.24 593.15 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 339.97 593.15 Td (requires ) Tj ET Q q 0 0 0 rg BT 375.18 593.15 Td (that ) Tj ET Q q 0 0 0 rg BT 392.90 593.15 Td (we ) Tj ET Q q 0 0 0 rg BT 407.11 593.15 Td (identify ) Tj ET Q q 0 0 0 rg BT 438.33 593.15 Td (suitable ) Tj ET Q q 0 0 0 rg BT 472.05 593.15 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 517.28 593.15 Td (targets ) Tj ET Q q 0 0 0 rg BT 547.50 593.15 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 579.65 Td (that ) Tj ET Q q 0 0 0 rg BT 89.40 579.65 Td (we ) Tj ET Q q 0 0 0 rg BT 103.28 579.65 Td (correctly ) Tj ET Q q 0 0 0 rg BT 139.67 579.65 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 176.08 579.65 Td (their ) Tj ET Q q 0 0 0 rg BT 195.97 579.65 Td (potential ) Tj ET Q q 0 0 0 rg BT 232.38 579.65 Td (as ) Tj ET Q q 0 0 0 rg BT 244.27 579.65 Td (transactions ) Tj ET Q q 0 0 0 rg BT 295.18 579.65 Td (that ) Tj ET Q q 0 0 0 rg BT 312.57 579.65 Td (will ) Tj ET Q q 0 0 0 rg BT 327.46 579.65 Td (meet ) Tj ET Q q 0 0 0 rg BT 349.85 579.65 Td (our ) Tj ET Q q 0 0 0 rg BT 365.24 579.65 Td (financial ) Tj ET Q q 0 0 0 rg BT 400.64 579.65 Td (and ) Tj ET Q q 0 0 0 rg BT 418.04 579.65 Td (operational ) Tj ET Q q 0 0 0 rg BT 464.96 579.65 Td (objectives. ) Tj ET Q q 0 0 0 rg BT 509.71 579.65 Td (There ) Tj ET Q q 0 0 0 rg BT 535.60 579.65 Td (can ) Tj ET Q q 0 0 0 rg BT 552.50 579.65 Td (be ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 566.15 Td (no ) Tj ET Q q 0 0 0 rg BT 83.94 566.15 Td (assurance ) Tj ET Q q 0 0 0 rg BT 127.38 566.15 Td (that ) Tj ET Q q 0 0 0 rg BT 144.32 566.15 Td (we ) Tj ET Q q 0 0 0 rg BT 157.75 566.15 Td (will ) Tj ET Q q 0 0 0 rg BT 172.17 566.15 Td (be ) Tj ET Q q 0 0 0 rg BT 184.11 566.15 Td (able ) Tj ET Q q 0 0 0 rg BT 203.05 566.15 Td (to ) Tj ET Q q 0 0 0 rg BT 212.48 566.15 Td (identify ) Tj ET Q q 0 0 0 rg BT 242.92 566.15 Td (suitable ) Tj ET Q q 0 0 0 rg BT 275.86 566.15 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 320.31 566.15 Td (candidates ) Tj ET Q q 0 0 0 rg BT 365.77 566.15 Td (and ) Tj ET Q q 0 0 0 rg BT 382.71 566.15 Td (consummate ) Tj ET Q q 0 0 0 rg BT 436.15 566.15 Td (additional ) Tj ET Q q 0 0 0 rg BT 476.61 566.15 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 525.56 566.15 Td (that ) Tj ET Q q 0 0 0 rg BT 542.50 566.15 Td (meet ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 552.65 Td (our ) Tj ET Q q 0 0 0 rg BT 87.58 552.65 Td (economic ) Tj ET Q q 0 0 0 rg BT 128.67 552.65 Td (thresholds, ) Tj ET Q q 0 0 0 rg BT 175.27 552.65 Td (or ) Tj ET Q q 0 0 0 rg BT 185.84 552.65 Td (that ) Tj ET Q q 0 0 0 rg BT 203.43 552.65 Td (future ) Tj ET Q q 0 0 0 rg BT 229.02 552.65 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 278.61 552.65 Td (will ) Tj ET Q q 0 0 0 rg BT 293.68 552.65 Td (be ) Tj ET Q q 0 0 0 rg BT 306.27 552.65 Td (successfully ) Tj ET Q q 0 0 0 rg BT 357.36 552.65 Td (integrated ) Tj ET Q q 0 0 0 rg BT 399.96 552.65 Td (into ) Tj ET Q q 0 0 0 rg BT 417.04 552.65 Td (our ) Tj ET Q q 0 0 0 rg BT 432.62 552.65 Td (operations ) Tj ET Q q 0 0 0 rg BT 477.23 552.65 Td (and ) Tj ET Q q 0 0 0 rg BT 494.81 552.65 Td (yield ) Tj ET Q q 0 0 0 rg BT 515.90 552.65 Td (the ) Tj ET Q q 0 0 0 rg BT 530.98 552.65 Td (tangible ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 539.15 Td (accretive ) Tj ET Q q 0 0 0 rg BT 110.51 539.15 Td (value ) Tj ET Q q 0 0 0 rg BT 134.53 539.15 Td (that ) Tj ET Q q 0 0 0 rg BT 152.04 539.15 Td (had ) Tj ET Q q 0 0 0 rg BT 169.56 539.15 Td (been ) Tj ET Q q 0 0 0 rg BT 192.08 539.15 Td (expected.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 519.65 Td (If ) Tj ET Q q 0 0 0 rg BT 79.36 519.65 Td (we ) Tj ET Q q 0 0 0 rg BT 93.23 519.65 Td (are ) Tj ET Q q 0 0 0 rg BT 108.59 519.65 Td (unable ) Tj ET Q q 0 0 0 rg BT 137.98 519.65 Td (to ) Tj ET Q q 0 0 0 rg BT 147.85 519.65 Td (implement ) Tj ET Q q 0 0 0 rg BT 191.72 519.65 Td (our ) Tj ET Q q 0 0 0 rg BT 207.09 519.65 Td (Build ) Tj ET Q q 0 0 0 rg BT 229.46 519.65 Td (and ) Tj ET Q q 0 0 0 rg BT 246.84 519.65 Td (Buy ) Tj ET Q q 0 0 0 rg BT 264.70 519.65 Td (strategy) Tj ET Q q 0 0 0 rg BT 296.05 519.65 Td (, ) Tj ET Q q 0 0 0 rg BT 300.91 519.65 Td (we ) Tj ET Q q 0 0 0 rg BT 314.78 519.65 Td (will ) Tj ET Q q 0 0 0 rg BT 329.63 519.65 Td (likely ) Tj ET Q q 0 0 0 rg BT 352.00 519.65 Td (be ) Tj ET Q q 0 0 0 rg BT 364.37 519.65 Td (unable ) Tj ET Q q 0 0 0 rg BT 393.75 519.65 Td (to ) Tj ET Q q 0 0 0 rg BT 403.62 519.65 Td (maintain ) Tj ET Q q 0 0 0 rg BT 440.00 519.65 Td (our ) Tj ET Q q 0 0 0 rg BT 455.37 519.65 Td (historic ) Tj ET Q q 0 0 0 rg BT 486.23 519.65 Td (or ) Tj ET Q q 0 0 0 rg BT 496.60 519.65 Td (expected ) Tj ET Q q 0 0 0 rg BT 535.48 519.65 Td (growth ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 506.15 Td (rates.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 485.066796875 m 203.55615234375 485.066796875 l s q 0 0 0 rg BT 73.50 486.35 Td (The ) Tj ET Q q 0 0 0 rg BT 91.51 486.35 Td (variability ) Tj ET Q q 0 0 0 rg BT 131.52 486.35 Td (of ) Tj ET Q q 0 0 0 rg BT 141.53 486.35 Td (financial ) Tj ET Q q 0 0 0 rg BT 177.05 486.35 Td (results) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 467.85 Td (Our ) Tj ET Q q 0 0 0 rg BT 90.27 467.85 Td (ability ) Tj ET Q q 0 0 0 rg BT 116.55 467.85 Td (to ) Tj ET Q q 0 0 0 rg BT 127.33 467.85 Td (maintain ) Tj ET Q q 0 0 0 rg BT 164.62 467.85 Td (and ) Tj ET Q q 0 0 0 rg BT 182.91 467.85 Td (increase ) Tj ET Q q 0 0 0 rg BT 220.20 467.85 Td (our ) Tj ET Q q 0 0 0 rg BT 236.48 467.85 Td (revenues ) Tj ET Q q 0 0 0 rg BT 276.77 467.85 Td (is ) Tj ET Q q 0 0 0 rg BT 286.54 467.85 Td (af) Tj ET Q q 0 0 0 rg BT 293.88 467.85 Td (fected ) Tj ET Q q 0 0 0 rg BT 321.67 467.85 Td (not ) Tj ET Q q 0 0 0 rg BT 337.45 467.85 Td (only ) Tj ET Q q 0 0 0 rg BT 357.24 467.85 Td (by ) Tj ET Q q 0 0 0 rg BT 370.01 467.85 Td (our ) Tj ET Q q 0 0 0 rg BT 386.29 467.85 Td (success ) Tj ET Q q 0 0 0 rg BT 422.07 467.85 Td (in ) Tj ET Q q 0 0 0 rg BT 432.35 467.85 Td (implementing ) Tj ET Q q 0 0 0 rg BT 489.15 467.85 Td (our ) Tj ET Q q 0 0 0 rg BT 505.42 467.85 Td (Build ) Tj ET Q q 0 0 0 rg BT 528.71 467.85 Td (and ) Tj ET Q q 0 0 0 rg BT 546.99 467.85 Td (Buy ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 454.35 Td (strategy) Tj ET Q q 0 0 0 rg BT 103.35 454.35 Td (, ) Tj ET Q q 0 0 0 rg BT 109.26 454.35 Td (but ) Tj ET Q q 0 0 0 rg BT 125.19 454.35 Td (also ) Tj ET Q q 0 0 0 rg BT 145.12 454.35 Td (by ) Tj ET Q q 0 0 0 rg BT 158.04 454.35 Td (a ) Tj ET Q q 0 0 0 rg BT 166.47 454.35 Td (number ) Tj ET Q q 0 0 0 rg BT 200.40 454.35 Td (of ) Tj ET Q q 0 0 0 rg BT 211.32 454.35 Td (other ) Tj ET Q q 0 0 0 rg BT 235.25 454.35 Td (factors, ) Tj ET Q q 0 0 0 rg BT 268.18 454.35 Td (including: ) Tj ET Q q 0 0 0 rg BT 309.62 454.35 Td (our ) Tj ET Q q 0 0 0 rg BT 326.05 454.35 Td (ability ) Tj ET Q q 0 0 0 rg BT 352.48 454.35 Td (to ) Tj ET Q q 0 0 0 rg BT 363.40 454.35 Td (introduce ) Tj ET Q q 0 0 0 rg BT 403.84 454.35 Td (and ) Tj ET Q q 0 0 0 rg BT 422.27 454.35 Td (deliver ) Tj ET Q q 0 0 0 rg BT 452.20 454.35 Td (new ) Tj ET Q q 0 0 0 rg BT 472.13 454.35 Td (services ) Tj ET Q q 0 0 0 rg BT 508.56 454.35 Td (and ) Tj ET Q q 0 0 0 rg BT 526.99 454.35 Td (business ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 440.85 Td (solutions; ) Tj ET Q q 0 0 0 rg BT 111.64 440.85 Td (a ) Tj ET Q q 0 0 0 rg BT 118.26 440.85 Td (lengthened ) Tj ET Q q 0 0 0 rg BT 164.42 440.85 Td (sales ) Tj ET Q q 0 0 0 rg BT 187.04 440.85 Td (cycle; ) Tj ET Q q 0 0 0 rg BT 211.66 440.85 Td (the ) Tj ET Q q 0 0 0 rg BT 225.79 440.85 Td (cyclicality ) Tj ET Q q 0 0 0 rg BT 265.41 440.85 Td (of ) Tj ET Q q 0 0 0 rg BT 274.53 440.85 Td (purchases ) Tj ET Q q 0 0 0 rg BT 317.67 440.85 Td (of ) Tj ET Q q 0 0 0 rg BT 326.79 440.85 Td (technology ) Tj ET Q q 0 0 0 rg BT 371.94 440.85 Td (services ) Tj ET Q q 0 0 0 rg BT 406.56 440.85 Td (and ) Tj ET Q q 0 0 0 rg BT 423.19 440.85 Td (products; ) Tj ET Q q 0 0 0 rg BT 461.82 440.85 Td (the ) Tj ET Q q 0 0 0 rg BT 475.95 440.85 Td (nature ) Tj ET Q q 0 0 0 rg BT 503.09 440.85 Td (of ) Tj ET Q q 0 0 0 rg BT 512.21 440.85 Td (a ) Tj ET Q q 0 0 0 rg BT 518.83 440.85 Td (customer) Tj ET Q q 0 0 0 rg BT 556.17 440.85 Td () Tj ET Q q 0 0 0 rg BT 558.01 440.85 Td (s ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 427.35 Td (business; ) Tj ET Q q 0 0 0 rg BT 111.91 427.35 Td (and ) Tj ET Q q 0 0 0 rg BT 128.82 427.35 Td (the ) Tj ET Q q 0 0 0 rg BT 143.23 427.35 Td (structure ) Tj ET Q q 0 0 0 rg BT 180.13 427.35 Td (of ) Tj ET Q q 0 0 0 rg BT 189.53 427.35 Td (agreements ) Tj ET Q q 0 0 0 rg BT 238.95 427.35 Td (with ) Tj ET Q q 0 0 0 rg BT 256.85 427.35 Td (customers. ) Tj ET Q q 0 0 0 rg BT 302.63 427.35 Td (These, ) Tj ET Q q 0 0 0 rg BT 332.03 427.35 Td (and ) Tj ET Q q 0 0 0 rg BT 348.94 427.35 Td (other ) Tj ET Q q 0 0 0 rg BT 371.35 427.35 Td (factors, ) Tj ET Q q 0 0 0 rg BT 402.75 427.35 Td (make ) Tj ET Q q 0 0 0 rg BT 426.65 427.35 Td (it ) Tj ET Q q 0 0 0 rg BT 433.04 427.35 Td (dif) Tj ET Q q 0 0 0 rg BT 442.39 427.35 Td (ficult ) Tj ET Q q 0 0 0 rg BT 462.78 427.35 Td (to ) Tj ET Q q 0 0 0 rg BT 472.18 427.35 Td (predict ) Tj ET Q q 0 0 0 rg BT 501.09 427.35 Td (financial ) Tj ET Q q 0 0 0 rg BT 536.00 427.35 Td (results ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 413.85 Td (for ) Tj ET Q q 0 0 0 rg BT 85.00 413.85 Td (any ) Tj ET Q q 0 0 0 rg BT 102.01 413.85 Td (given ) Tj ET Q q 0 0 0 rg BT 126.03 413.85 Td (period.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 392.766796875 m 167.5341796875 392.766796875 l s q 0 0 0 rg BT 73.50 394.05 Td (Business ) Tj ET Q q 0 0 0 rg BT 112.52 394.05 Td (mix ) Tj ET Q q 0 0 0 rg BT 129.02 394.05 Td (variations) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 377.55 Td (The ) Tj ET Q q 0 0 0 rg BT 90.29 377.55 Td (proportion ) Tj ET Q q 0 0 0 rg BT 133.60 377.55 Td (of ) Tj ET Q q 0 0 0 rg BT 143.89 377.55 Td (revenue ) Tj ET Q q 0 0 0 rg BT 179.20 377.55 Td (that ) Tj ET Q q 0 0 0 rg BT 196.99 377.55 Td (we ) Tj ET Q q 0 0 0 rg BT 211.28 377.55 Td (generate ) Tj ET Q q 0 0 0 rg BT 249.60 377.55 Td (from ) Tj ET Q q 0 0 0 rg BT 270.38 377.55 Td (shorter-term ) Tj ET Q q 0 0 0 rg BT 322.17 377.55 Td (systems ) Tj ET Q q 0 0 0 rg BT 357.96 377.55 Td (integration ) Tj ET Q q 0 0 0 rg BT 402.77 377.55 Td (and ) Tj ET Q q 0 0 0 rg BT 420.57 377.55 Td (consulting ) Tj ET Q q 0 0 0 rg BT 463.88 377.55 Td (projects, ) Tj ET Q q 0 0 0 rg BT 500.68 377.55 Td (versus ) Tj ET Q q 0 0 0 rg BT 529.97 377.55 Td (revenue ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 364.05 Td (from ) Tj ET Q q 0 0 0 rg BT 93.58 364.05 Td (long-term ) Tj ET Q q 0 0 0 rg BT 135.17 364.05 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 185.27 364.05 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 227.87 364.05 Td (will ) Tj ET Q q 0 0 0 rg BT 243.94 364.05 Td (fluctuate ) Tj ET Q q 0 0 0 rg BT 281.54 364.05 Td (at ) Tj ET Q q 0 0 0 rg BT 292.62 364.05 Td (times, ) Tj ET Q q 0 0 0 rg BT 320.20 364.05 Td (af) Tj ET Q q 0 0 0 rg BT 327.55 364.05 Td (fected ) Tj ET Q q 0 0 0 rg BT 355.64 364.05 Td (by ) Tj ET Q q 0 0 0 rg BT 368.72 364.05 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 419.33 364.05 Td (or ) Tj ET Q q 0 0 0 rg BT 430.91 364.05 Td (other ) Tj ET Q q 0 0 0 rg BT 455.00 364.05 Td (transactions. ) Tj ET Q q 0 0 0 rg BT 508.89 364.05 Td (An ) Tj ET Q q 0 0 0 rg BT 523.47 364.05 Td (increased ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 350.55 Td (exposure ) Tj ET Q q 0 0 0 rg BT 111.52 350.55 Td (to ) Tj ET Q q 0 0 0 rg BT 121.53 350.55 Td (revenue ) Tj ET Q q 0 0 0 rg BT 156.56 350.55 Td (from ) Tj ET Q q 0 0 0 rg BT 177.06 350.55 Td (SI&C ) Tj ET Q q 0 0 0 rg BT 200.56 350.55 Td (projects ) Tj ET Q q 0 0 0 rg BT 234.58 350.55 Td (may ) Tj ET Q q 0 0 0 rg BT 254.08 350.55 Td (result ) Tj ET Q q 0 0 0 rg BT 278.59 350.55 Td (in ) Tj ET Q q 0 0 0 rg BT 288.09 350.55 Td (greater ) Tj ET Q q 0 0 0 rg BT 319.11 350.55 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 356.63 350.55 Td (revenue ) Tj ET Q q 0 0 0 rg BT 391.65 350.55 Td (variations.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 329.466796875 m 341.654296875 329.466796875 l s q 0 0 0 rg BT 73.50 330.75 Td (The ) Tj ET Q q 0 0 0 rg BT 91.51 330.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 127.03 330.75 Td (and ) Tj ET Q q 0 0 0 rg BT 144.55 330.75 Td (operational ) Tj ET Q q 0 0 0 rg BT 191.58 330.75 Td (risks ) Tj ET Q q 0 0 0 rg BT 212.58 330.75 Td (inherent ) Tj ET Q q 0 0 0 rg BT 247.60 330.75 Td (in ) Tj ET Q q 0 0 0 rg BT 257.11 330.75 Td (worldwide ) Tj ET Q q 0 0 0 rg BT 299.63 330.75 Td (operations) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 314.25 Td (W) Tj ET Q q 0 0 0 rg BT 80.33 314.25 Td (e ) Tj ET Q q 0 0 0 rg BT 86.76 314.25 Td (manage ) Tj ET Q q 0 0 0 rg BT 120.70 314.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 164.15 314.25 Td (in ) Tj ET Q q 0 0 0 rg BT 172.58 314.25 Td (numerous ) Tj ET Q q 0 0 0 rg BT 214.02 314.25 Td (countries ) Tj ET Q q 0 0 0 rg BT 251.95 314.25 Td (around ) Tj ET Q q 0 0 0 rg BT 281.40 314.25 Td (the ) Tj ET Q q 0 0 0 rg BT 295.33 314.25 Td (world ) Tj ET Q q 0 0 0 rg BT 318.26 314.25 Td (including ) Tj ET Q q 0 0 0 rg BT 355.20 314.25 Td (of) Tj ET Q q 0 0 0 rg BT 362.54 314.25 Td (fshore ) Tj ET Q q 0 0 0 rg BT 388.98 314.25 Td (delivery ) Tj ET Q q 0 0 0 rg BT 421.41 314.25 Td (centers. ) Tj ET Q q 0 0 0 rg BT 454.75 314.25 Td (The ) Tj ET Q q 0 0 0 rg BT 471.68 314.25 Td (scope ) Tj ET Q q 0 0 0 rg BT 497.12 314.25 Td (of ) Tj ET Q q 0 0 0 rg BT 506.04 314.25 Td (our ) Tj ET Q q 0 0 0 rg BT 520.47 314.25 Td (operations ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 300.75 Td (subjects ) Tj ET Q q 0 0 0 rg BT 107.82 300.75 Td (us ) Tj ET Q q 0 0 0 rg BT 120.14 300.75 Td (to ) Tj ET Q q 0 0 0 rg BT 130.45 300.75 Td (various ) Tj ET Q q 0 0 0 rg BT 162.27 300.75 Td (issues ) Tj ET Q q 0 0 0 rg BT 190.59 300.75 Td (that ) Tj ET Q q 0 0 0 rg BT 208.41 300.75 Td (can ) Tj ET Q q 0 0 0 rg BT 225.73 300.75 Td (negatively ) Tj ET Q q 0 0 0 rg BT 269.06 300.75 Td (impact ) Tj ET Q q 0 0 0 rg BT 298.38 300.75 Td (our ) Tj ET Q q 0 0 0 rg BT 314.20 300.75 Td (operations: ) Tj ET Q q 0 0 0 rg BT 361.53 300.75 Td (the ) Tj ET Q q 0 0 0 rg BT 376.85 300.75 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 425.19 300.75 Td (of ) Tj ET Q q 0 0 0 rg BT 435.50 300.75 Td (currency ) Tj ET Q q 0 0 0 rg BT 472.82 300.75 Td (\(see ) Tj ET Q q 0 0 0 rg BT 493.14 300.75 Td (foreign ) Tj ET Q q 0 0 0 rg BT 523.46 300.75 Td (exchange ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 287.25 Td (risk\); ) Tj ET Q q 0 0 0 rg BT 95.02 287.25 Td (the ) Tj ET Q q 0 0 0 rg BT 111.05 287.25 Td (burden ) Tj ET Q q 0 0 0 rg BT 142.60 287.25 Td (of ) Tj ET Q q 0 0 0 rg BT 153.63 287.25 Td (complying ) Tj ET Q q 0 0 0 rg BT 197.67 287.25 Td (with ) Tj ET Q q 0 0 0 rg BT 217.19 287.25 Td (a ) Tj ET Q q 0 0 0 rg BT 225.72 287.25 Td (wide ) Tj ET Q q 0 0 0 rg BT 247.75 287.25 Td (variety ) Tj ET Q q 0 0 0 rg BT 277.78 287.25 Td (of ) Tj ET Q q 0 0 0 rg BT 288.81 287.25 Td (national ) Tj ET Q q 0 0 0 rg BT 323.86 287.25 Td (and ) Tj ET Q q 0 0 0 rg BT 342.40 287.25 Td (local ) Tj ET Q q 0 0 0 rg BT 364.43 287.25 Td (laws ) Tj ET Q q 0 0 0 rg BT 385.96 287.25 Td (\(see ) Tj ET Q q 0 0 0 rg BT 406.99 287.25 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 450.53 287.25 Td (risk\); ) Tj ET Q q 0 0 0 rg BT 473.55 287.25 Td (the ) Tj ET Q q 0 0 0 rg BT 489.58 287.25 Td (dif) Tj ET Q q 0 0 0 rg BT 498.92 287.25 Td (ferences ) Tj ET Q q 0 0 0 rg BT 536.97 287.25 Td (in ) Tj ET Q q 0 0 0 rg BT 547.49 287.25 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 273.75 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 125.61 273.75 Td (arising ) Tj ET Q q 0 0 0 rg BT 154.71 273.75 Td (from ) Tj ET Q q 0 0 0 rg BT 175.30 273.75 Td (local ) Tj ET Q q 0 0 0 rg BT 196.39 273.75 Td (business ) Tj ET Q q 0 0 0 rg BT 234.50 273.75 Td (culture ) Tj ET Q q 0 0 0 rg BT 264.10 273.75 Td (and ) Tj ET Q q 0 0 0 rg BT 281.70 273.75 Td (practices; ) Tj ET Q q 0 0 0 rg BT 322.79 273.75 Td (political, ) Tj ET Q q 0 0 0 rg BT 357.90 273.75 Td (social ) Tj ET Q q 0 0 0 rg BT 383.49 273.75 Td (and ) Tj ET Q q 0 0 0 rg BT 401.09 273.75 Td (economic ) Tj ET Q q 0 0 0 rg BT 442.19 273.75 Td (instability ) Tj ET Q q 0 0 0 rg BT 481.79 273.75 Td (including ) Tj ET Q q 0 0 0 rg BT 519.90 273.75 Td (the ) Tj ET Q q 0 0 0 rg BT 535.00 273.75 Td (threats ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 260.25 Td (of ) Tj ET Q q 0 0 0 rg BT 81.04 260.25 Td (terrorism, ) Tj ET Q q 0 0 0 rg BT 120.56 260.25 Td (civil ) Tj ET Q q 0 0 0 rg BT 137.09 260.25 Td (unrest, ) Tj ET Q q 0 0 0 rg BT 166.14 260.25 Td (war) Tj ET Q q 0 0 0 rg BT 180.14 260.25 Td (, ) Tj ET Q q 0 0 0 rg BT 184.17 260.25 Td (natural ) Tj ET Q q 0 0 0 rg BT 213.22 260.25 Td (disasters ) Tj ET Q q 0 0 0 rg BT 250.76 260.25 Td (and ) Tj ET Q q 0 0 0 rg BT 267.31 260.25 Td (pandemic ) Tj ET Q q 0 0 0 rg BT 307.86 260.25 Td (illnesses. ) Tj ET Q q 0 0 0 rg BT 346.10 260.25 Td (Any ) Tj ET Q q 0 0 0 rg BT 363.14 260.25 Td (or ) Tj ET Q q 0 0 0 rg BT 372.67 260.25 Td (all ) Tj ET Q q 0 0 0 rg BT 383.21 260.25 Td (of ) Tj ET Q q 0 0 0 rg BT 392.24 260.25 Td (these ) Tj ET Q q 0 0 0 rg BT 415.79 260.25 Td (risks ) Tj ET Q q 0 0 0 rg BT 435.82 260.25 Td (could ) Tj ET Q q 0 0 0 rg BT 458.86 260.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 486.90 260.25 Td (our ) Tj ET Q q 0 0 0 rg BT 501.44 260.25 Td (global ) Tj ET Q q 0 0 0 rg BT 526.99 260.25 Td (business ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 246.75 Td (operations ) Tj ET Q q 0 0 0 rg BT 116.53 246.75 Td (and ) Tj ET Q q 0 0 0 rg BT 134.05 246.75 Td (cause ) Tj ET Q q 0 0 0 rg BT 160.56 246.75 Td (our ) Tj ET Q q 0 0 0 rg BT 176.07 246.75 Td (profitability ) Tj ET Q q 0 0 0 rg BT 221.59 246.75 Td (to ) Tj ET Q q 0 0 0 rg BT 231.60 246.75 Td (decline.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 225.66679687500005 m 275.1123046875 225.66679687500005 l s q 0 0 0 rg BT 73.50 226.95 Td (Organizational ) Tj ET Q q 0 0 0 rg BT 134.03 226.95 Td (challenges ) Tj ET Q q 0 0 0 rg BT 179.57 226.95 Td (associated ) Tj ET Q q 0 0 0 rg BT 225.09 226.95 Td (with ) Tj ET Q q 0 0 0 rg BT 243.60 226.95 Td (our ) Tj ET Q q 0 0 0 rg BT 259.11 226.95 Td (size) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 210.45 Td (Our ) Tj ET Q q 0 0 0 rg BT 89.49 210.45 Td (culture, ) Tj ET Q q 0 0 0 rg BT 121.49 210.45 Td (standards, ) Tj ET Q q 0 0 0 rg BT 166.00 210.45 Td (core ) Tj ET Q q 0 0 0 rg BT 185.99 210.45 Td (values, ) Tj ET Q q 0 0 0 rg BT 216.99 210.45 Td (internal ) Tj ET Q q 0 0 0 rg BT 249.00 210.45 Td (controls ) Tj ET Q q 0 0 0 rg BT 283.00 210.45 Td (and ) Tj ET Q q 0 0 0 rg BT 300.50 210.45 Td (our ) Tj ET Q q 0 0 0 rg BT 315.99 210.45 Td (policies ) Tj ET Q q 0 0 0 rg BT 348.49 210.45 Td (need ) Tj ET Q q 0 0 0 rg BT 371.00 210.45 Td (to ) Tj ET Q q 0 0 0 rg BT 380.99 210.45 Td (be ) Tj ET Q q 0 0 0 rg BT 393.49 210.45 Td (instilled ) Tj ET Q q 0 0 0 rg BT 425.99 210.45 Td (across ) Tj ET Q q 0 0 0 rg BT 454.98 210.45 Td (newly ) Tj ET Q q 0 0 0 rg BT 480.48 210.45 Td (acquired ) Tj ET Q q 0 0 0 rg BT 517.49 210.45 Td (businesses ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 196.95 Td (as ) Tj ET Q q 0 0 0 rg BT 84.07 196.95 Td (well ) Tj ET Q q 0 0 0 rg BT 102.14 196.95 Td (as ) Tj ET Q q 0 0 0 rg BT 114.21 196.95 Td (maintained ) Tj ET Q q 0 0 0 rg BT 160.81 196.95 Td (within ) Tj ET Q q 0 0 0 rg BT 186.39 196.95 Td (our ) Tj ET Q q 0 0 0 rg BT 201.96 196.95 Td (existing ) Tj ET Q q 0 0 0 rg BT 235.04 196.95 Td (operations. ) Tj ET Q q 0 0 0 rg BT 281.97 196.95 Td (T) Tj ET Q q 0 0 0 rg BT 286.47 196.95 Td (o ) Tj ET Q q 0 0 0 rg BT 294.04 196.95 Td (ef) Tj ET Q q 0 0 0 rg BT 301.39 196.95 Td (fectively ) Tj ET Q q 0 0 0 rg BT 336.46 196.95 Td (communicate ) Tj ET Q q 0 0 0 rg BT 392.55 196.95 Td (and ) Tj ET Q q 0 0 0 rg BT 410.13 196.95 Td (manage ) Tj ET Q q 0 0 0 rg BT 445.22 196.95 Td (these ) Tj ET Q q 0 0 0 rg BT 469.81 196.95 Td (standards ) Tj ET Q q 0 0 0 rg BT 511.90 196.95 Td (throughout ) Tj ET Q q 0 0 0 rg BT 557.50 196.95 Td (a ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 183.45 Td (large ) Tj ET Q q 0 0 0 rg BT 95.00 183.45 Td (global ) Tj ET Q q 0 0 0 rg BT 122.00 183.45 Td (organization ) Tj ET Q q 0 0 0 rg BT 174.02 183.45 Td (is ) Tj ET Q q 0 0 0 rg BT 183.50 183.45 Td (both ) Tj ET Q q 0 0 0 rg BT 204.00 183.45 Td (challenging ) Tj ET Q q 0 0 0 rg BT 252.52 183.45 Td (and ) Tj ET Q q 0 0 0 rg BT 270.52 183.45 Td (time ) Tj ET Q q 0 0 0 rg BT 290.50 183.45 Td (consuming. ) Tj ET Q q 0 0 0 rg BT 339.51 183.45 Td (Newly ) Tj ET Q q 0 0 0 rg BT 367.00 183.45 Td (acquired ) Tj ET Q q 0 0 0 rg BT 404.50 183.45 Td (businesses ) Tj ET Q q 0 0 0 rg BT 452.51 183.45 Td (may ) Tj ET Q q 0 0 0 rg BT 472.50 183.45 Td (be ) Tj ET Q q 0 0 0 rg BT 485.49 183.45 Td (resistant ) Tj ET Q q 0 0 0 rg BT 522.49 183.45 Td (to ) Tj ET Q q 0 0 0 rg BT 532.98 183.45 Td (change ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 169.95 Td (and ) Tj ET Q q 0 0 0 rg BT 89.50 169.95 Td (may ) Tj ET Q q 0 0 0 rg BT 108.99 169.95 Td (remain ) Tj ET Q q 0 0 0 rg BT 138.99 169.95 Td (attached ) Tj ET Q q 0 0 0 rg BT 176.00 169.95 Td (to ) Tj ET Q q 0 0 0 rg BT 185.99 169.95 Td (past ) Tj ET Q q 0 0 0 rg BT 205.49 169.95 Td (methods, ) Tj ET Q q 0 0 0 rg BT 244.99 169.95 Td (standards ) Tj ET Q q 0 0 0 rg BT 287.00 169.95 Td (and ) Tj ET Q q 0 0 0 rg BT 304.51 169.95 Td (practices ) Tj ET Q q 0 0 0 rg BT 343.00 169.95 Td (which ) Tj ET Q q 0 0 0 rg BT 368.50 169.95 Td (may ) Tj ET Q q 0 0 0 rg BT 387.99 169.95 Td (compromise ) Tj ET Q q 0 0 0 rg BT 439.49 169.95 Td (our ) Tj ET Q q 0 0 0 rg BT 454.98 169.95 Td (business ) Tj ET Q q 0 0 0 rg BT 492.99 169.95 Td (agility ) Tj ET Q q 0 0 0 rg BT 518.48 169.95 Td (in ) Tj ET Q q 0 0 0 rg BT 527.97 169.95 Td (pursuing ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 156.45 Td (opportunities. ) Tj ET Q q 0 0 0 rg BT 127.82 156.45 Td (Cultural ) Tj ET Q q 0 0 0 rg BT 160.62 156.45 Td (dif) Tj ET Q q 0 0 0 rg BT 169.97 156.45 Td (ferences ) Tj ET Q q 0 0 0 rg BT 206.27 156.45 Td (in ) Tj ET Q q 0 0 0 rg BT 215.07 156.45 Td (various ) Tj ET Q q 0 0 0 rg BT 245.87 156.45 Td (countries ) Tj ET Q q 0 0 0 rg BT 284.18 156.45 Td (may ) Tj ET Q q 0 0 0 rg BT 302.97 156.45 Td (also ) Tj ET Q q 0 0 0 rg BT 321.27 156.45 Td (present ) Tj ET Q q 0 0 0 rg BT 353.07 156.45 Td (barriers ) Tj ET Q q 0 0 0 rg BT 385.37 156.45 Td (to ) Tj ET Q q 0 0 0 rg BT 394.66 156.45 Td (introducing ) Tj ET Q q 0 0 0 rg BT 440.48 156.45 Td (new ) Tj ET Q q 0 0 0 rg BT 458.78 156.45 Td (ideas ) Tj ET Q q 0 0 0 rg BT 482.08 156.45 Td (or ) Tj ET Q q 0 0 0 rg BT 491.88 156.45 Td (aligning ) Tj ET Q q 0 0 0 rg BT 524.69 156.45 Td (our ) Tj ET Q q 0 0 0 rg BT 539.49 156.45 Td (vision ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 142.95 Td (and ) Tj ET Q q 0 0 0 rg BT 88.61 142.95 Td (strategy ) Tj ET Q q 0 0 0 rg BT 122.21 142.95 Td (with ) Tj ET Q q 0 0 0 rg BT 139.81 142.95 Td (the ) Tj ET Q q 0 0 0 rg BT 153.91 142.95 Td (rest ) Tj ET Q q 0 0 0 rg BT 170.50 142.95 Td (of ) Tj ET Q q 0 0 0 rg BT 179.60 142.95 Td (the ) Tj ET Q q 0 0 0 rg BT 193.70 142.95 Td (organization. ) Tj ET Q q 0 0 0 rg BT 246.83 142.95 Td (If ) Tj ET Q q 0 0 0 rg BT 253.42 142.95 Td (we ) Tj ET Q q 0 0 0 rg BT 266.52 142.95 Td (cannot ) Tj ET Q q 0 0 0 rg BT 295.13 142.95 Td (overcome ) Tj ET Q q 0 0 0 rg BT 336.23 142.95 Td (these ) Tj ET Q q 0 0 0 rg BT 359.84 142.95 Td (obstacles ) Tj ET Q q 0 0 0 rg BT 399.45 142.95 Td (in ) Tj ET Q q 0 0 0 rg BT 408.05 142.95 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 455.67 142.95 Td (a ) Tj ET Q q 0 0 0 rg BT 462.27 142.95 Td (strategic ) Tj ET Q q 0 0 0 rg BT 497.87 142.95 Td (bond ) Tj ET Q q 0 0 0 rg BT 519.48 142.95 Td (throughout ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 129.45 Td (the ) Tj ET Q q 0 0 0 rg BT 87.01 129.45 Td (Company ) Tj ET Q q 0 0 0 rg BT 128.03 129.45 Td (worldwide, ) Tj ET Q q 0 0 0 rg BT 173.05 129.45 Td (we ) Tj ET Q q 0 0 0 rg BT 187.05 129.45 Td (may ) Tj ET Q q 0 0 0 rg BT 206.56 129.45 Td (not ) Tj ET Q q 0 0 0 rg BT 221.57 129.45 Td (be ) Tj ET Q q 0 0 0 rg BT 234.08 129.45 Td (able ) Tj ET Q q 0 0 0 rg BT 253.60 129.45 Td (to ) Tj ET Q q 0 0 0 rg BT 263.60 129.45 Td (achieve ) Tj ET Q q 0 0 0 rg BT 297.12 129.45 Td (our ) Tj ET Q q 0 0 0 rg BT 312.63 129.45 Td (growth ) Tj ET Q q 0 0 0 rg BT 342.15 129.45 Td (and ) Tj ET Q q 0 0 0 rg BT 359.66 129.45 Td (profitability ) Tj ET Q q 0 0 0 rg BT 405.18 129.45 Td (objectives.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 72 108.66679687500005 m 192.7265625 108.66679687500005 l s q 0 0 0 rg BT 72.00 109.95 Td (T) Tj ET Q q 0 0 0 rg BT 76.67 109.95 Td (axes ) Tj ET Q q 0 0 0 rg BT 98.18 109.95 Td (and ) Tj ET Q q 0 0 0 rg BT 115.70 109.95 Td (tax ) Tj ET Q q 0 0 0 rg BT 130.21 109.95 Td (credit ) Tj ET Q q 0 0 0 rg BT 154.71 109.95 Td (programs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 90.45 Td (In ) Tj ET Q q 0 0 0 rg BT 82.55 90.45 Td (estimating ) Tj ET Q q 0 0 0 rg BT 126.62 90.45 Td (our ) Tj ET Q q 0 0 0 rg BT 142.67 90.45 Td (income ) Tj ET Q q 0 0 0 rg BT 174.73 90.45 Td (tax ) Tj ET Q q 0 0 0 rg BT 189.78 90.45 Td (payable, ) Tj ET Q q 0 0 0 rg BT 226.86 90.45 Td (management ) Tj ET Q q 0 0 0 rg BT 282.43 90.45 Td (uses ) Tj ET Q q 0 0 0 rg BT 304.49 90.45 Td (accounting ) Tj ET Q q 0 0 0 rg BT 351.07 90.45 Td (principles ) Tj ET Q q 0 0 0 rg BT 392.13 90.45 Td (to ) Tj ET Q q 0 0 0 rg BT 402.69 90.45 Td (determine ) Tj ET Q q 0 0 0 rg BT 445.75 90.45 Td (income ) Tj ET Q q 0 0 0 rg BT 477.81 90.45 Td (tax ) Tj ET Q q 0 0 0 rg BT 492.86 90.45 Td (positions ) Tj ET Q q 0 0 0 rg BT 531.43 90.45 Td (that ) Tj ET Q q 0 0 0 rg BT 549.49 90.45 Td (are ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 76.95 Td (likely ) Tj ET Q q 0 0 0 rg BT 94.33 76.95 Td (to ) Tj ET Q q 0 0 0 rg BT 104.15 76.95 Td (be ) Tj ET Q q 0 0 0 rg BT 116.49 76.95 Td (sustained ) Tj ET Q q 0 0 0 rg BT 157.34 76.95 Td (by ) Tj ET Q q 0 0 0 rg BT 169.16 76.95 Td (applicable ) Tj ET Q q 0 0 0 rg BT 212.02 76.95 Td (tax ) Tj ET Q q 0 0 0 rg BT 226.35 76.95 Td (authorities. ) Tj ET Q q 0 0 0 rg BT 272.69 76.95 Td (However) Tj ET Q q 0 0 0 rg BT 307.71 76.95 Td (, ) Tj ET Q q 0 0 0 rg BT 312.53 76.95 Td (there ) Tj ET Q q 0 0 0 rg BT 335.37 76.95 Td (is ) Tj ET Q q 0 0 0 rg BT 344.19 76.95 Td (no ) Tj ET Q q 0 0 0 rg BT 356.52 76.95 Td (assurance ) Tj ET Q q 0 0 0 rg BT 400.37 76.95 Td (that ) Tj ET Q q 0 0 0 rg BT 417.70 76.95 Td (our ) Tj ET Q q 0 0 0 rg BT 433.03 76.95 Td (tax ) Tj ET Q q 0 0 0 rg BT 447.36 76.95 Td (benefits ) Tj ET Q q 0 0 0 rg BT 481.20 76.95 Td (or ) Tj ET Q q 0 0 0 rg BT 491.53 76.95 Td (tax ) Tj ET Q q 0 0 0 rg BT 505.86 76.95 Td (liability ) Tj ET Q q 0 0 0 rg BT 535.19 76.95 Td (will ) Tj ET Q q 0 0 0 rg BT 550.01 76.95 Td (not ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 63.45 Td (materially ) Tj ET Q q 0 0 0 rg BT 112.01 63.45 Td (dif) Tj ET Q q 0 0 0 rg BT 121.35 63.45 Td (fer ) Tj ET Q q 0 0 0 rg BT 133.36 63.45 Td (from ) Tj ET Q q 0 0 0 rg BT 152.86 63.45 Td (our ) Tj ET Q q 0 0 0 rg BT 167.36 63.45 Td (estimates ) Tj ET Q q 0 0 0 rg BT 207.38 63.45 Td (or ) Tj ET Q q 0 0 0 rg BT 216.88 63.45 Td (expectations. ) Tj ET Q q 0 0 0 rg BT 271.32 63.45 Td (The ) Tj ET Q q 0 0 0 rg BT 288.33 63.45 Td (tax ) Tj ET Q q 0 0 0 rg BT 301.83 63.45 Td (legislation, ) Tj ET Q q 0 0 0 rg BT 345.86 63.45 Td (regulation ) Tj ET Q q 0 0 0 rg BT 386.89 63.45 Td (and ) Tj ET Q q 0 0 0 rg BT 403.41 63.45 Td (interpretation ) Tj ET Q q 0 0 0 rg BT 457.44 63.45 Td (that ) Tj ET Q q 0 0 0 rg BT 473.95 63.45 Td (apply ) Tj ET Q q 0 0 0 rg BT 496.97 63.45 Td (to ) Tj ET Q q 0 0 0 rg BT 505.97 63.45 Td (our ) Tj ET Q q 0 0 0 rg BT 520.48 63.45 Td (operations ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 49.95 Td (are ) Tj ET Q q 0 0 0 rg BT 87.49 49.95 Td (continually ) Tj ET Q q 0 0 0 rg BT 132.50 49.95 Td (changing. ) Tj ET Q q 0 0 0 rg BT 174.01 49.95 Td (In ) Tj ET Q q 0 0 0 rg BT 184.00 49.95 Td (addition, ) Tj ET Q q 0 0 0 rg BT 220.51 49.95 Td (future ) Tj ET Q q 0 0 0 rg BT 246.00 49.95 Td (tax ) Tj ET Q q 0 0 0 rg BT 260.49 49.95 Td (benefits ) Tj ET Q q 0 0 0 rg BT 294.50 49.95 Td (and ) Tj ET Q q 0 0 0 rg BT 311.99 49.95 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 348.49 49.95 Td (are ) Tj ET Q q 0 0 0 rg BT 363.98 49.95 Td (dependent ) Tj ET Q q 0 0 0 rg BT 409.00 49.95 Td (on ) Tj ET Q q 0 0 0 rg BT 421.50 49.95 Td (factors ) Tj ET Q q 0 0 0 rg BT 450.99 49.95 Td (that ) Tj ET Q q 0 0 0 rg BT 468.48 49.95 Td (are ) Tj ET Q q 0 0 0 rg BT 483.97 49.95 Td (inherently ) Tj ET Q q 0 0 0 rg BT 525.48 49.95 Td (uncertain ) Tj ET Q endstream endobj 103 0 obj <> endobj 104 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (50) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 708.95 Td (and ) Tj ET Q q 0 0 0 rg BT 89.45 708.95 Td (subject ) Tj ET Q q 0 0 0 rg BT 120.39 708.95 Td (to ) Tj ET Q q 0 0 0 rg BT 130.33 708.95 Td (change, ) Tj ET Q q 0 0 0 rg BT 164.78 708.95 Td (including ) Tj ET Q q 0 0 0 rg BT 202.74 708.95 Td (future ) Tj ET Q q 0 0 0 rg BT 228.18 708.95 Td (earnings, ) Tj ET Q q 0 0 0 rg BT 267.64 708.95 Td (future ) Tj ET Q q 0 0 0 rg BT 293.08 708.95 Td (tax ) Tj ET Q q 0 0 0 rg BT 307.52 708.95 Td (rates, ) Tj ET Q q 0 0 0 rg BT 332.45 708.95 Td (and ) Tj ET Q q 0 0 0 rg BT 349.90 708.95 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 395.86 708.95 Td (business ) Tj ET Q q 0 0 0 rg BT 433.81 708.95 Td (mix ) Tj ET Q q 0 0 0 rg BT 450.24 708.95 Td (in ) Tj ET Q q 0 0 0 rg BT 459.67 708.95 Td (the ) Tj ET Q q 0 0 0 rg BT 474.61 708.95 Td (various ) Tj ET Q q 0 0 0 rg BT 506.06 708.95 Td (jurisdictions ) Tj ET Q q 0 0 0 rg BT 555.50 708.95 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 695.45 Td (which ) Tj ET Q q 0 0 0 rg BT 98.23 695.45 Td (we ) Tj ET Q q 0 0 0 rg BT 112.96 695.45 Td (operate. ) Tj ET Q q 0 0 0 rg BT 149.21 695.45 Td (Moreover) Tj ET Q q 0 0 0 rg BT 186.73 695.45 Td (, ) Tj ET Q q 0 0 0 rg BT 192.45 695.45 Td (our ) Tj ET Q q 0 0 0 rg BT 208.69 695.45 Td (tax ) Tj ET Q q 0 0 0 rg BT 223.92 695.45 Td (returns ) Tj ET Q q 0 0 0 rg BT 255.15 695.45 Td (are ) Tj ET Q q 0 0 0 rg BT 271.39 695.45 Td (continually ) Tj ET Q q 0 0 0 rg BT 317.14 695.45 Td (subject ) Tj ET Q q 0 0 0 rg BT 348.88 695.45 Td (to ) Tj ET Q q 0 0 0 rg BT 359.61 695.45 Td (review ) Tj ET Q q 0 0 0 rg BT 388.84 695.45 Td (by ) Tj ET Q q 0 0 0 rg BT 401.57 695.45 Td (applicable ) Tj ET Q q 0 0 0 rg BT 445.32 695.45 Td (tax ) Tj ET Q q 0 0 0 rg BT 460.55 695.45 Td (authorities; ) Tj ET Q q 0 0 0 rg BT 507.80 695.45 Td (it ) Tj ET Q q 0 0 0 rg BT 515.53 695.45 Td (is ) Tj ET Q q 0 0 0 rg BT 525.25 695.45 Td (these ) Tj ET Q q 0 0 0 rg BT 550.49 695.45 Td (tax ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 681.95 Td (authorities ) Tj ET Q q 0 0 0 rg BT 115.36 681.95 Td (that ) Tj ET Q q 0 0 0 rg BT 132.21 681.95 Td (will ) Tj ET Q q 0 0 0 rg BT 146.54 681.95 Td (make ) Tj ET Q q 0 0 0 rg BT 170.39 681.95 Td (the ) Tj ET Q q 0 0 0 rg BT 184.73 681.95 Td (final ) Tj ET Q q 0 0 0 rg BT 203.08 681.95 Td (determination ) Tj ET Q q 0 0 0 rg BT 259.45 681.95 Td (of ) Tj ET Q q 0 0 0 rg BT 268.79 681.95 Td (the ) Tj ET Q q 0 0 0 rg BT 283.14 681.95 Td (actual ) Tj ET Q q 0 0 0 rg BT 308.99 681.95 Td (amounts ) Tj ET Q q 0 0 0 rg BT 345.35 681.95 Td (of ) Tj ET Q q 0 0 0 rg BT 354.69 681.95 Td (taxes ) Tj ET Q q 0 0 0 rg BT 378.04 681.95 Td (payable ) Tj ET Q q 0 0 0 rg BT 411.40 681.95 Td (or ) Tj ET Q q 0 0 0 rg BT 421.24 681.95 Td (receivable, ) Tj ET Q q 0 0 0 rg BT 466.60 681.95 Td (of ) Tj ET Q q 0 0 0 rg BT 475.94 681.95 Td (any ) Tj ET Q q 0 0 0 rg BT 492.29 681.95 Td (future ) Tj ET Q q 0 0 0 rg BT 517.14 681.95 Td (tax ) Tj ET Q q 0 0 0 rg BT 530.98 681.95 Td (benefits ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 668.45 Td (or ) Tj ET Q q 0 0 0 rg BT 83.17 668.45 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 120.35 668.45 Td (and ) Tj ET Q q 0 0 0 rg BT 138.54 668.45 Td (of ) Tj ET Q q 0 0 0 rg BT 149.22 668.45 Td (income ) Tj ET Q q 0 0 0 rg BT 181.40 668.45 Td (tax ) Tj ET Q q 0 0 0 rg BT 196.57 668.45 Td (expense ) Tj ET Q q 0 0 0 rg BT 233.77 668.45 Td (that ) Tj ET Q q 0 0 0 rg BT 251.95 668.45 Td (we ) Tj ET Q q 0 0 0 rg BT 266.63 668.45 Td (may ) Tj ET Q q 0 0 0 rg BT 286.80 668.45 Td (ultimately ) Tj ET Q q 0 0 0 rg BT 327.98 668.45 Td (recognize. ) Tj ET Q q 0 0 0 rg BT 372.04 668.45 Td (Any ) Tj ET Q q 0 0 0 rg BT 390.72 668.45 Td (of ) Tj ET Q q 0 0 0 rg BT 401.40 668.45 Td (the ) Tj ET Q q 0 0 0 rg BT 417.08 668.45 Td (above ) Tj ET Q q 0 0 0 rg BT 444.77 668.45 Td (factors ) Tj ET Q q 0 0 0 rg BT 474.95 668.45 Td (could ) Tj ET Q q 0 0 0 rg BT 499.63 668.45 Td (have ) Tj ET Q q 0 0 0 rg BT 522.32 668.45 Td (a ) Tj ET Q q 0 0 0 rg BT 530.49 668.45 Td (material ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 654.95 Td (adverse ) Tj ET Q q 0 0 0 rg BT 106.58 654.95 Td (ef) Tj ET Q q 0 0 0 rg BT 113.92 654.95 Td (fect ) Tj ET Q q 0 0 0 rg BT 130.99 654.95 Td (on ) Tj ET Q q 0 0 0 rg BT 143.57 654.95 Td (our ) Tj ET Q q 0 0 0 rg BT 159.14 654.95 Td (net ) Tj ET Q q 0 0 0 rg BT 174.21 654.95 Td (income ) Tj ET Q q 0 0 0 rg BT 205.79 654.95 Td (or ) Tj ET Q q 0 0 0 rg BT 216.35 654.95 Td (cash ) Tj ET Q q 0 0 0 rg BT 237.93 654.95 Td (flows ) Tj ET Q q 0 0 0 rg BT 261.00 654.95 Td (by ) Tj ET Q q 0 0 0 rg BT 273.06 654.95 Td (af) Tj ET Q q 0 0 0 rg BT 280.41 654.95 Td (fecting ) Tj ET Q q 0 0 0 rg BT 309.49 654.95 Td (our ) Tj ET Q q 0 0 0 rg BT 325.06 654.95 Td (operations ) Tj ET Q q 0 0 0 rg BT 369.65 654.95 Td (and ) Tj ET Q q 0 0 0 rg BT 387.23 654.95 Td (profitability) Tj ET Q q 0 0 0 rg BT 429.58 654.95 Td (, ) Tj ET Q q 0 0 0 rg BT 434.64 654.95 Td (the ) Tj ET Q q 0 0 0 rg BT 449.72 654.95 Td (availability ) Tj ET Q q 0 0 0 rg BT 493.80 654.95 Td (of ) Tj ET Q q 0 0 0 rg BT 503.87 654.95 Td (tax ) Tj ET Q q 0 0 0 rg BT 518.44 654.95 Td (credits, ) Tj ET Q q 0 0 0 rg BT 550.01 654.95 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 641.45 Td (cost ) Tj ET Q q 0 0 0 rg BT 90.65 641.45 Td (of ) Tj ET Q q 0 0 0 rg BT 100.30 641.45 Td (the ) Tj ET Q q 0 0 0 rg BT 114.96 641.45 Td (services ) Tj ET Q q 0 0 0 rg BT 150.11 641.45 Td (we ) Tj ET Q q 0 0 0 rg BT 163.76 641.45 Td (provide, ) Tj ET Q q 0 0 0 rg BT 197.92 641.45 Td (and ) Tj ET Q q 0 0 0 rg BT 215.08 641.45 Td (the ) Tj ET Q q 0 0 0 rg BT 229.73 641.45 Td (availability ) Tj ET Q q 0 0 0 rg BT 273.40 641.45 Td (of ) Tj ET Q q 0 0 0 rg BT 283.05 641.45 Td (deductions ) Tj ET Q q 0 0 0 rg BT 328.72 641.45 Td (for ) Tj ET Q q 0 0 0 rg BT 341.37 641.45 Td (operating ) Tj ET Q q 0 0 0 rg BT 381.04 641.45 Td (losses ) Tj ET Q q 0 0 0 rg BT 408.70 641.45 Td (as ) Tj ET Q q 0 0 0 rg BT 420.35 641.45 Td (we ) Tj ET Q q 0 0 0 rg BT 434.00 641.45 Td (develop ) Tj ET Q q 0 0 0 rg BT 467.67 641.45 Td (our ) Tj ET Q q 0 0 0 rg BT 482.82 641.45 Td (international ) Tj ET Q q 0 0 0 rg BT 534.00 641.45 Td (service ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 627.95 Td (delivery ) Tj ET Q q 0 0 0 rg BT 105.51 627.95 Td (capabilities.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 608.45 Td (W) Tj ET Q q 0 0 0 rg BT 80.33 608.45 Td (e ) Tj ET Q q 0 0 0 rg BT 87.70 608.45 Td (benefit ) Tj ET Q q 0 0 0 rg BT 117.08 608.45 Td (from ) Tj ET Q q 0 0 0 rg BT 137.44 608.45 Td (government ) Tj ET Q q 0 0 0 rg BT 187.32 608.45 Td (sponsored ) Tj ET Q q 0 0 0 rg BT 231.71 608.45 Td (programs ) Tj ET Q q 0 0 0 rg BT 272.08 608.45 Td (designed ) Tj ET Q q 0 0 0 rg BT 310.97 608.45 Td (to ) Tj ET Q q 0 0 0 rg BT 320.84 608.45 Td (support ) Tj ET Q q 0 0 0 rg BT 353.21 608.45 Td (research ) Tj ET Q q 0 0 0 rg BT 390.59 608.45 Td (and ) Tj ET Q q 0 0 0 rg BT 407.96 608.45 Td (development ) Tj ET Q q 0 0 0 rg BT 461.86 608.45 Td (and ) Tj ET Q q 0 0 0 rg BT 479.23 608.45 Td (labour ) Tj ET Q q 0 0 0 rg BT 506.61 608.45 Td (and ) Tj ET Q q 0 0 0 rg BT 523.98 608.45 Td (economic ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 594.95 Td (growth ) Tj ET Q q 0 0 0 rg BT 101.93 594.95 Td (in ) Tj ET Q q 0 0 0 rg BT 111.85 594.95 Td (jurisdictions ) Tj ET Q q 0 0 0 rg BT 161.79 594.95 Td (where ) Tj ET Q q 0 0 0 rg BT 189.22 594.95 Td (we ) Tj ET Q q 0 0 0 rg BT 203.64 594.95 Td (operate. ) Tj ET Q q 0 0 0 rg BT 239.58 594.95 Td (Government ) Tj ET Q q 0 0 0 rg BT 292.02 594.95 Td (programs ) Tj ET Q q 0 0 0 rg BT 332.95 594.95 Td (reflect ) Tj ET Q q 0 0 0 rg BT 360.37 594.95 Td (government ) Tj ET Q q 0 0 0 rg BT 410.82 594.95 Td (policy ) Tj ET Q q 0 0 0 rg BT 436.74 594.95 Td (and ) Tj ET Q q 0 0 0 rg BT 454.68 594.95 Td (depend ) Tj ET Q q 0 0 0 rg BT 487.63 594.95 Td (on ) Tj ET Q q 0 0 0 rg BT 500.55 594.95 Td (various ) Tj ET Q q 0 0 0 rg BT 532.48 594.95 Td (political ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 581.45 Td (and ) Tj ET Q q 0 0 0 rg BT 88.70 581.45 Td (economic ) Tj ET Q q 0 0 0 rg BT 128.89 581.45 Td (factors.There ) Tj ET Q q 0 0 0 rg BT 183.59 581.45 Td (can ) Tj ET Q q 0 0 0 rg BT 199.79 581.45 Td (be ) Tj ET Q q 0 0 0 rg BT 211.48 581.45 Td (no ) Tj ET Q q 0 0 0 rg BT 223.17 581.45 Td (assurance ) Tj ET Q q 0 0 0 rg BT 266.37 581.45 Td (that ) Tj ET Q q 0 0 0 rg BT 283.06 581.45 Td (such ) Tj ET Q q 0 0 0 rg BT 303.75 581.45 Td (government ) Tj ET Q q 0 0 0 rg BT 352.96 581.45 Td (programs ) Tj ET Q q 0 0 0 rg BT 392.65 581.45 Td (will ) Tj ET Q q 0 0 0 rg BT 406.83 581.45 Td (continue ) Tj ET Q q 0 0 0 rg BT 442.54 581.45 Td (to ) Tj ET Q q 0 0 0 rg BT 451.73 581.45 Td (be ) Tj ET Q q 0 0 0 rg BT 463.42 581.45 Td (available ) Tj ET Q q 0 0 0 rg BT 500.62 581.45 Td (to ) Tj ET Q q 0 0 0 rg BT 509.81 581.45 Td (the ) Tj ET Q q 0 0 0 rg BT 524.00 581.45 Td (Company ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 567.95 Td (in ) Tj ET Q q 0 0 0 rg BT 82.02 567.95 Td (the ) Tj ET Q q 0 0 0 rg BT 97.56 567.95 Td (future, ) Tj ET Q q 0 0 0 rg BT 126.09 567.95 Td (or ) Tj ET Q q 0 0 0 rg BT 137.11 567.95 Td (will ) Tj ET Q q 0 0 0 rg BT 152.63 567.95 Td (not ) Tj ET Q q 0 0 0 rg BT 168.16 567.95 Td (be ) Tj ET Q q 0 0 0 rg BT 181.19 567.95 Td (reduced, ) Tj ET Q q 0 0 0 rg BT 219.23 567.95 Td (amended ) Tj ET Q q 0 0 0 rg BT 259.78 567.95 Td (or ) Tj ET Q q 0 0 0 rg BT 270.80 567.95 Td (eliminated. ) Tj ET Q q 0 0 0 rg BT 316.75 567.95 Td (Any ) Tj ET Q q 0 0 0 rg BT 335.28 567.95 Td (future ) Tj ET Q q 0 0 0 rg BT 361.31 567.95 Td (government ) Tj ET Q q 0 0 0 rg BT 411.86 567.95 Td (program ) Tj ET Q q 0 0 0 rg BT 448.39 567.95 Td (reductions ) Tj ET Q q 0 0 0 rg BT 492.93 567.95 Td (or ) Tj ET Q q 0 0 0 rg BT 503.95 567.95 Td (eliminations ) Tj ET Q q 0 0 0 rg BT 554.50 567.95 Td (or ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 554.45 Td (other ) Tj ET Q q 0 0 0 rg BT 94.82 554.45 Td (amendments ) Tj ET Q q 0 0 0 rg BT 149.16 554.45 Td (to ) Tj ET Q q 0 0 0 rg BT 158.97 554.45 Td (the ) Tj ET Q q 0 0 0 rg BT 173.79 554.45 Td (tax ) Tj ET Q q 0 0 0 rg BT 188.11 554.45 Td (credit ) Tj ET Q q 0 0 0 rg BT 212.42 554.45 Td (programs ) Tj ET Q q 0 0 0 rg BT 252.74 554.45 Td (could ) Tj ET Q q 0 0 0 rg BT 276.57 554.45 Td (increase ) Tj ET Q q 0 0 0 rg BT 312.90 554.45 Td (operating ) Tj ET Q q 0 0 0 rg BT 352.73 554.45 Td (or ) Tj ET Q q 0 0 0 rg BT 363.04 554.45 Td (capital ) Tj ET Q q 0 0 0 rg BT 391.37 554.45 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 445.21 554.45 Td (incurred ) Tj ET Q q 0 0 0 rg BT 480.04 554.45 Td (by ) Tj ET Q q 0 0 0 rg BT 491.85 554.45 Td (the ) Tj ET Q q 0 0 0 rg BT 506.67 554.45 Td (Company ) Tj ET Q q 0 0 0 rg BT 547.50 554.45 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 540.95 Td (have ) Tj ET Q q 0 0 0 rg BT 94.02 540.95 Td (a ) Tj ET Q q 0 0 0 rg BT 101.52 540.95 Td (material ) Tj ET Q q 0 0 0 rg BT 136.03 540.95 Td (adverse ) Tj ET Q q 0 0 0 rg BT 170.55 540.95 Td (ef) Tj ET Q q 0 0 0 rg BT 177.90 540.95 Td (fect ) Tj ET Q q 0 0 0 rg BT 194.90 540.95 Td (on ) Tj ET Q q 0 0 0 rg BT 207.41 540.95 Td (its ) Tj ET Q q 0 0 0 rg BT 218.91 540.95 Td (net ) Tj ET Q q 0 0 0 rg BT 233.93 540.95 Td (earnings ) Tj ET Q q 0 0 0 rg BT 270.95 540.95 Td (or ) Tj ET Q q 0 0 0 rg BT 281.45 540.95 Td (cash ) Tj ET Q q 0 0 0 rg BT 302.96 540.95 Td (flows. ) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 519.866796875 m 342.61669921875 519.866796875 l s q 0 0 0 rg BT 73.50 521.15 Td (Credit ) Tj ET Q q 0 0 0 rg BT 100.01 521.15 Td (risk ) Tj ET Q q 0 0 0 rg BT 116.50 521.15 Td (with ) Tj ET Q q 0 0 0 rg BT 135.01 521.15 Td (respect ) Tj ET Q q 0 0 0 rg BT 167.02 521.15 Td (to ) Tj ET Q q 0 0 0 rg BT 177.03 521.15 Td (accounts ) Tj ET Q q 0 0 0 rg BT 215.55 521.15 Td (receivable ) Tj ET Q q 0 0 0 rg BT 259.08 521.15 Td (and ) Tj ET Q q 0 0 0 rg BT 276.59 521.15 Td (work ) Tj ET Q q 0 0 0 rg BT 298.10 521.15 Td (in ) Tj ET Q q 0 0 0 rg BT 307.60 521.15 Td (progress) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 504.65 Td (In ) Tj ET Q q 0 0 0 rg BT 82.09 504.65 Td (order ) Tj ET Q q 0 0 0 rg BT 105.68 504.65 Td (to ) Tj ET Q q 0 0 0 rg BT 115.76 504.65 Td (sustain ) Tj ET Q q 0 0 0 rg BT 146.86 504.65 Td (our ) Tj ET Q q 0 0 0 rg BT 162.45 504.65 Td (net ) Tj ET Q q 0 0 0 rg BT 177.54 504.65 Td (earnings ) Tj ET Q q 0 0 0 rg BT 214.64 504.65 Td (and ) Tj ET Q q 0 0 0 rg BT 232.24 504.65 Td (cash ) Tj ET Q q 0 0 0 rg BT 253.83 504.65 Td (flows ) Tj ET Q q 0 0 0 rg BT 276.91 504.65 Td (from ) Tj ET Q q 0 0 0 rg BT 297.49 504.65 Td (operations, ) Tj ET Q q 0 0 0 rg BT 344.60 504.65 Td (we ) Tj ET Q q 0 0 0 rg BT 358.69 504.65 Td (must ) Tj ET Q q 0 0 0 rg BT 380.77 504.65 Td (invoice ) Tj ET Q q 0 0 0 rg BT 411.37 504.65 Td (and ) Tj ET Q q 0 0 0 rg BT 428.96 504.65 Td (collect ) Tj ET Q q 0 0 0 rg BT 457.05 504.65 Td (the ) Tj ET Q q 0 0 0 rg BT 472.14 504.65 Td (amounts ) Tj ET Q q 0 0 0 rg BT 509.24 504.65 Td (owed ) Tj ET Q q 0 0 0 rg BT 533.34 504.65 Td (to ) Tj ET Q q 0 0 0 rg BT 543.42 504.65 Td (us ) Tj ET Q q 0 0 0 rg BT 555.51 504.65 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 491.15 Td (an ) Tj ET Q q 0 0 0 rg BT 84.15 491.15 Td (ef) Tj ET Q q 0 0 0 rg BT 91.49 491.15 Td (ficient ) Tj ET Q q 0 0 0 rg BT 117.14 491.15 Td (and ) Tj ET Q q 0 0 0 rg BT 134.29 491.15 Td (timely ) Tj ET Q q 0 0 0 rg BT 159.93 491.15 Td (manner) Tj ET Q q 0 0 0 rg BT 189.95 491.15 Td (. ) Tj ET Q q 0 0 0 rg BT 194.16 491.15 Td (Although ) Tj ET Q q 0 0 0 rg BT 231.83 491.15 Td (we ) Tj ET Q q 0 0 0 rg BT 245.47 491.15 Td (maintain ) Tj ET Q q 0 0 0 rg BT 281.62 491.15 Td (provisions ) Tj ET Q q 0 0 0 rg BT 324.28 491.15 Td (to ) Tj ET Q q 0 0 0 rg BT 333.92 491.15 Td (account ) Tj ET Q q 0 0 0 rg BT 367.58 491.15 Td (for ) Tj ET Q q 0 0 0 rg BT 380.22 491.15 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 425.89 491.15 Td (shortfalls ) Tj ET Q q 0 0 0 rg BT 464.04 491.15 Td (in ) Tj ET Q q 0 0 0 rg BT 473.18 491.15 Td (amounts ) Tj ET Q q 0 0 0 rg BT 509.84 491.15 Td (collected, ) Tj ET Q q 0 0 0 rg BT 549.99 491.15 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 477.65 Td (provisions ) Tj ET Q q 0 0 0 rg BT 115.11 477.65 Td (we ) Tj ET Q q 0 0 0 rg BT 129.21 477.65 Td (take ) Tj ET Q q 0 0 0 rg BT 148.82 477.65 Td (are ) Tj ET Q q 0 0 0 rg BT 164.42 477.65 Td (based ) Tj ET Q q 0 0 0 rg BT 191.54 477.65 Td (on ) Tj ET Q q 0 0 0 rg BT 204.14 477.65 Td (management ) Tj ET Q q 0 0 0 rg BT 259.27 477.65 Td (estimates ) Tj ET Q q 0 0 0 rg BT 300.38 477.65 Td (and ) Tj ET Q q 0 0 0 rg BT 317.99 477.65 Td (on ) Tj ET Q q 0 0 0 rg BT 330.59 477.65 Td (our ) Tj ET Q q 0 0 0 rg BT 346.20 477.65 Td (assessment ) Tj ET Q q 0 0 0 rg BT 396.81 477.65 Td (of ) Tj ET Q q 0 0 0 rg BT 406.91 477.65 Td (our ) Tj ET Q q 0 0 0 rg BT 422.51 477.65 Td (clients) Tj ET Q q 0 0 0 rg BT 449.69 477.65 Td ( ) Tj ET Q q 0 0 0 rg BT 452.28 477.65 Td (creditworthiness ) Tj ET Q q 0 0 0 rg BT 519.90 477.65 Td (which ) Tj ET Q q 0 0 0 rg BT 545.51 477.65 Td (may ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 464.15 Td (prove ) Tj ET Q q 0 0 0 rg BT 97.03 464.15 Td (to ) Tj ET Q q 0 0 0 rg BT 107.05 464.15 Td (be ) Tj ET Q q 0 0 0 rg BT 119.58 464.15 Td (inadequate ) Tj ET Q q 0 0 0 rg BT 166.64 464.15 Td (in ) Tj ET Q q 0 0 0 rg BT 176.17 464.15 Td (the ) Tj ET Q q 0 0 0 rg BT 191.19 464.15 Td (light ) Tj ET Q q 0 0 0 rg BT 210.22 464.15 Td (of ) Tj ET Q q 0 0 0 rg BT 220.25 464.15 Td (actual ) Tj ET Q q 0 0 0 rg BT 246.78 464.15 Td (results. ) Tj ET Q q 0 0 0 rg BT 278.14 464.15 Td (T) Tj ET Q q 0 0 0 rg BT 282.64 464.15 Td (o ) Tj ET Q q 0 0 0 rg BT 290.16 464.15 Td (the ) Tj ET Q q 0 0 0 rg BT 305.19 464.15 Td (extent ) Tj ET Q q 0 0 0 rg BT 332.23 464.15 Td (that ) Tj ET Q q 0 0 0 rg BT 349.76 464.15 Td (we ) Tj ET Q q 0 0 0 rg BT 363.78 464.15 Td (fail ) Tj ET Q q 0 0 0 rg BT 377.80 464.15 Td (to ) Tj ET Q q 0 0 0 rg BT 387.83 464.15 Td (perform ) Tj ET Q q 0 0 0 rg BT 421.35 464.15 Td (our ) Tj ET Q q 0 0 0 rg BT 436.88 464.15 Td (services ) Tj ET Q q 0 0 0 rg BT 472.40 464.15 Td (in ) Tj ET Q q 0 0 0 rg BT 481.92 464.15 Td (accordance ) Tj ET Q q 0 0 0 rg BT 530.97 464.15 Td (with ) Tj ET Q q 0 0 0 rg BT 549.49 464.15 Td (our ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 450.65 Td (contracts ) Tj ET Q q 0 0 0 rg BT 111.26 450.65 Td (and ) Tj ET Q q 0 0 0 rg BT 129.01 450.65 Td (our ) Tj ET Q q 0 0 0 rg BT 144.76 450.65 Td (clients) Tj ET Q q 0 0 0 rg BT 171.94 450.65 Td ( ) Tj ET Q q 0 0 0 rg BT 174.68 450.65 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 221.96 450.65 Td (expectations, ) Tj ET Q q 0 0 0 rg BT 277.73 450.65 Td (and ) Tj ET Q q 0 0 0 rg BT 295.49 450.65 Td (to ) Tj ET Q q 0 0 0 rg BT 305.74 450.65 Td (the ) Tj ET Q q 0 0 0 rg BT 320.99 450.65 Td (extent ) Tj ET Q q 0 0 0 rg BT 348.25 450.65 Td (that ) Tj ET Q q 0 0 0 rg BT 366.01 450.65 Td (we ) Tj ET Q q 0 0 0 rg BT 380.25 450.65 Td (fail ) Tj ET Q q 0 0 0 rg BT 394.50 450.65 Td (to ) Tj ET Q q 0 0 0 rg BT 404.75 450.65 Td (invoice ) Tj ET Q q 0 0 0 rg BT 435.51 450.65 Td (clients ) Tj ET Q q 0 0 0 rg BT 463.76 450.65 Td (for ) Tj ET Q q 0 0 0 rg BT 477.00 450.65 Td (our ) Tj ET Q q 0 0 0 rg BT 492.75 450.65 Td (services ) Tj ET Q q 0 0 0 rg BT 528.50 450.65 Td (correctly ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 437.15 Td (in ) Tj ET Q q 0 0 0 rg BT 81.39 437.15 Td (a ) Tj ET Q q 0 0 0 rg BT 88.78 437.15 Td (timely ) Tj ET Q q 0 0 0 rg BT 114.67 437.15 Td (manner) Tj ET Q q 0 0 0 rg BT 144.68 437.15 Td (, ) Tj ET Q q 0 0 0 rg BT 149.57 437.15 Td (our ) Tj ET Q q 0 0 0 rg BT 164.96 437.15 Td (collections ) Tj ET Q q 0 0 0 rg BT 209.37 437.15 Td (could ) Tj ET Q q 0 0 0 rg BT 233.27 437.15 Td (suf) Tj ET Q q 0 0 0 rg BT 245.11 437.15 Td (fer ) Tj ET Q q 0 0 0 rg BT 258.00 437.15 Td (resulting ) Tj ET Q q 0 0 0 rg BT 294.40 437.15 Td (in ) Tj ET Q q 0 0 0 rg BT 303.79 437.15 Td (a ) Tj ET Q q 0 0 0 rg BT 311.18 437.15 Td (direct ) Tj ET Q q 0 0 0 rg BT 335.57 437.15 Td (and ) Tj ET Q q 0 0 0 rg BT 352.97 437.15 Td (adverse ) Tj ET Q q 0 0 0 rg BT 387.37 437.15 Td (ef) Tj ET Q q 0 0 0 rg BT 394.72 437.15 Td (fect ) Tj ET Q q 0 0 0 rg BT 411.61 437.15 Td (to ) Tj ET Q q 0 0 0 rg BT 421.50 437.15 Td (our ) Tj ET Q q 0 0 0 rg BT 436.89 437.15 Td (revenue, ) Tj ET Q q 0 0 0 rg BT 474.30 437.15 Td (net ) Tj ET Q q 0 0 0 rg BT 489.19 437.15 Td (earnings ) Tj ET Q q 0 0 0 rg BT 526.10 437.15 Td (and ) Tj ET Q q 0 0 0 rg BT 543.50 437.15 Td (cash ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 423.65 Td (flows. ) Tj ET Q q 0 0 0 rg BT 97.37 423.65 Td (In ) Tj ET Q q 0 0 0 rg BT 107.24 423.65 Td (addition, ) Tj ET Q q 0 0 0 rg BT 143.63 423.65 Td (a ) Tj ET Q q 0 0 0 rg BT 151.00 423.65 Td (prolonged ) Tj ET Q q 0 0 0 rg BT 193.40 423.65 Td (economic ) Tj ET Q q 0 0 0 rg BT 234.28 423.65 Td (downturn ) Tj ET Q q 0 0 0 rg BT 273.67 423.65 Td (may ) Tj ET Q q 0 0 0 rg BT 293.03 423.65 Td (cause ) Tj ET Q q 0 0 0 rg BT 319.41 423.65 Td (clients ) Tj ET Q q 0 0 0 rg BT 347.29 423.65 Td (to ) Tj ET Q q 0 0 0 rg BT 357.16 423.65 Td (curtail ) Tj ET Q q 0 0 0 rg BT 383.53 423.65 Td (or ) Tj ET Q q 0 0 0 rg BT 393.89 423.65 Td (defer ) Tj ET Q q 0 0 0 rg BT 416.77 423.65 Td (projects, ) Tj ET Q q 0 0 0 rg BT 453.15 423.65 Td (impair ) Tj ET Q q 0 0 0 rg BT 480.02 423.65 Td (their ) Tj ET Q q 0 0 0 rg BT 499.89 423.65 Td (ability ) Tj ET Q q 0 0 0 rg BT 525.26 423.65 Td (to ) Tj ET Q q 0 0 0 rg BT 535.13 423.65 Td (pay ) Tj ET Q q 0 0 0 rg BT 552.00 423.65 Td (for ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 410.15 Td (services ) Tj ET Q q 0 0 0 rg BT 108.19 410.15 Td (already ) Tj ET Q q 0 0 0 rg BT 140.89 410.15 Td (provided, ) Tj ET Q q 0 0 0 rg BT 181.09 410.15 Td (and ) Tj ET Q q 0 0 0 rg BT 199.29 410.15 Td (ultimately ) Tj ET Q q 0 0 0 rg BT 240.48 410.15 Td (cause ) Tj ET Q q 0 0 0 rg BT 267.68 410.15 Td (them ) Tj ET Q q 0 0 0 rg BT 290.87 410.15 Td (to ) Tj ET Q q 0 0 0 rg BT 301.55 410.15 Td (default ) Tj ET Q q 0 0 0 rg BT 331.76 410.15 Td (on ) Tj ET Q q 0 0 0 rg BT 344.95 410.15 Td (existing ) Tj ET Q q 0 0 0 rg BT 378.64 410.15 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 420.84 410.15 Td (in ) Tj ET Q q 0 0 0 rg BT 431.02 410.15 Td (each ) Tj ET Q q 0 0 0 rg BT 453.72 410.15 Td (case, ) Tj ET Q q 0 0 0 rg BT 478.41 410.15 Td (causing ) Tj ET Q q 0 0 0 rg BT 512.62 410.15 Td (a ) Tj ET Q q 0 0 0 rg BT 520.80 410.15 Td (shortfall ) Tj ET Q q 0 0 0 rg BT 555.50 410.15 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 396.65 Td (revenue ) Tj ET Q q 0 0 0 rg BT 107.02 396.65 Td (and ) Tj ET Q q 0 0 0 rg BT 124.54 396.65 Td (impairing ) Tj ET Q q 0 0 0 rg BT 163.56 396.65 Td (our ) Tj ET Q q 0 0 0 rg BT 179.06 396.65 Td (future ) Tj ET Q q 0 0 0 rg BT 204.58 396.65 Td (prospects.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 72 375.566796875 m 565.00244140625 375.566796875 l s q 0 0 0 rg BT 72.00 376.85 Td (Material ) Tj ET Q q 0 0 0 rg BT 107.49 376.85 Td (developments ) Tj ET Q q 0 0 0 rg BT 167.01 376.85 Td (regarding ) Tj ET Q q 0 0 0 rg BT 208.52 376.85 Td (major ) Tj ET Q q 0 0 0 rg BT 234.51 376.85 Td (commercial ) Tj ET Q q 0 0 0 rg BT 284.00 376.85 Td (clients ) Tj ET Q q 0 0 0 rg BT 313.00 376.85 Td (resulting ) Tj ET Q q 0 0 0 rg BT 350.50 376.85 Td (from ) Tj ET Q q 0 0 0 rg BT 371.98 376.85 Td (such ) Tj ET Q q 0 0 0 rg BT 394.48 376.85 Td (causes ) Tj ET Q q 0 0 0 rg BT 426.48 376.85 Td (as ) Tj ET Q q 0 0 0 rg BT 439.47 376.85 Td (changes ) Tj ET Q q 0 0 0 rg BT 476.98 376.85 Td (in ) Tj ET Q q 0 0 0 rg BT 487.47 376.85 Td (financial ) Tj ET Q q 0 0 0 rg BT 523.98 376.85 Td (condition, ) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 72 364.766796875 m 203.05810546875 364.766796875 l s q 0 0 0 rg BT 72.00 366.05 Td (mergers ) Tj ET Q q 0 0 0 rg BT 107.51 366.05 Td (or ) Tj ET Q q 0 0 0 rg BT 118.01 366.05 Td (business ) Tj ET Q q 0 0 0 rg BT 156.03 366.05 Td (acquisitions) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 349.55 Td (Consolidation ) Tj ET Q q 0 0 0 rg BT 128.69 349.55 Td (among ) Tj ET Q q 0 0 0 rg BT 158.36 349.55 Td (our ) Tj ET Q q 0 0 0 rg BT 173.52 349.55 Td (clients ) Tj ET Q q 0 0 0 rg BT 201.19 349.55 Td (resulting ) Tj ET Q q 0 0 0 rg BT 237.36 349.55 Td (from ) Tj ET Q q 0 0 0 rg BT 257.51 349.55 Td (mergers ) Tj ET Q q 0 0 0 rg BT 292.67 349.55 Td (and ) Tj ET Q q 0 0 0 rg BT 309.84 349.55 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 359.02 349.55 Td (may ) Tj ET Q q 0 0 0 rg BT 378.18 349.55 Td (result ) Tj ET Q q 0 0 0 rg BT 402.34 349.55 Td (in ) Tj ET Q q 0 0 0 rg BT 411.50 349.55 Td (loss ) Tj ET Q q 0 0 0 rg BT 429.66 349.55 Td (or ) Tj ET Q q 0 0 0 rg BT 439.82 349.55 Td (reduction ) Tj ET Q q 0 0 0 rg BT 478.99 349.55 Td (of ) Tj ET Q q 0 0 0 rg BT 488.65 349.55 Td (business ) Tj ET Q q 0 0 0 rg BT 526.33 349.55 Td (when ) Tj ET Q q 0 0 0 rg BT 550.00 349.55 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 336.05 Td (successor ) Tj ET Q q 0 0 0 rg BT 116.04 336.05 Td (business) Tj ET Q q 0 0 0 rg BT 153.23 336.05 Td ( ) Tj ET Q q 0 0 0 rg BT 156.75 336.05 Td (IT) Tj ET Q q 0 0 0 rg BT 164.59 336.05 Td ( ) Tj ET Q q 0 0 0 rg BT 168.11 336.05 Td (needs ) Tj ET Q q 0 0 0 rg BT 196.16 336.05 Td (are ) Tj ET Q q 0 0 0 rg BT 212.69 336.05 Td (served ) Tj ET Q q 0 0 0 rg BT 243.23 336.05 Td (by ) Tj ET Q q 0 0 0 rg BT 256.26 336.05 Td (another ) Tj ET Q q 0 0 0 rg BT 290.31 336.05 Td (service ) Tj ET Q q 0 0 0 rg BT 322.35 336.05 Td (provider ) Tj ET Q q 0 0 0 rg BT 358.39 336.05 Td (or ) Tj ET Q q 0 0 0 rg BT 369.92 336.05 Td (are ) Tj ET Q q 0 0 0 rg BT 386.45 336.05 Td (provided ) Tj ET Q q 0 0 0 rg BT 424.50 336.05 Td (by ) Tj ET Q q 0 0 0 rg BT 437.53 336.05 Td (the ) Tj ET Q q 0 0 0 rg BT 453.57 336.05 Td (successor ) Tj ET Q q 0 0 0 rg BT 497.61 336.05 Td (Company) Tj ET Q q 0 0 0 rg BT 537.96 336.05 Td (s ) Tj ET Q q 0 0 0 rg BT 545.99 336.05 Td (own ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 322.55 Td (personnel. ) Tj ET Q q 0 0 0 rg BT 115.92 322.55 Td (Growth ) Tj ET Q q 0 0 0 rg BT 146.81 322.55 Td (in ) Tj ET Q q 0 0 0 rg BT 155.71 322.55 Td (a ) Tj ET Q q 0 0 0 rg BT 162.60 322.55 Td (client) Tj ET Q q 0 0 0 rg BT 185.45 322.55 Td (s ) Tj ET Q q 0 0 0 rg BT 191.83 322.55 Td (IT) Tj ET Q q 0 0 0 rg BT 199.67 322.55 Td ( ) Tj ET Q q 0 0 0 rg BT 201.56 322.55 Td (needs ) Tj ET Q q 0 0 0 rg BT 227.97 322.55 Td (resulting ) Tj ET Q q 0 0 0 rg BT 263.87 322.55 Td (from ) Tj ET Q q 0 0 0 rg BT 283.76 322.55 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 332.67 322.55 Td (or ) Tj ET Q q 0 0 0 rg BT 342.56 322.55 Td (operations ) Tj ET Q q 0 0 0 rg BT 386.48 322.55 Td (may ) Tj ET Q q 0 0 0 rg BT 405.37 322.55 Td (mean ) Tj ET Q q 0 0 0 rg BT 429.77 322.55 Td (that ) Tj ET Q q 0 0 0 rg BT 446.67 322.55 Td (we ) Tj ET Q q 0 0 0 rg BT 460.06 322.55 Td (no ) Tj ET Q q 0 0 0 rg BT 471.96 322.55 Td (longer ) Tj ET Q q 0 0 0 rg BT 498.87 322.55 Td (have ) Tj ET Q q 0 0 0 rg BT 520.27 322.55 Td (a ) Tj ET Q q 0 0 0 rg BT 527.16 322.55 Td (suf) Tj ET Q q 0 0 0 rg BT 539.01 322.55 Td (ficient ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 309.05 Td (geographic ) Tj ET Q q 0 0 0 rg BT 119.23 309.05 Td (scope ) Tj ET Q q 0 0 0 rg BT 145.94 309.05 Td (or ) Tj ET Q q 0 0 0 rg BT 156.64 309.05 Td (the ) Tj ET Q q 0 0 0 rg BT 171.85 309.05 Td (critical ) Tj ET Q q 0 0 0 rg BT 200.04 309.05 Td (mass ) Tj ET Q q 0 0 0 rg BT 224.24 309.05 Td (to ) Tj ET Q q 0 0 0 rg BT 234.44 309.05 Td (serve ) Tj ET Q q 0 0 0 rg BT 259.15 309.05 Td (the ) Tj ET Q q 0 0 0 rg BT 274.35 309.05 Td (client) Tj ET Q q 0 0 0 rg BT 297.20 309.05 Td (s ) Tj ET Q q 0 0 0 rg BT 304.40 309.05 Td (needs ) Tj ET Q q 0 0 0 rg BT 331.62 309.05 Td (ef) Tj ET Q q 0 0 0 rg BT 338.96 309.05 Td (ficiently) Tj ET Q q 0 0 0 rg BT 368.30 309.05 Td (, ) Tj ET Q q 0 0 0 rg BT 373.50 309.05 Td (resulting ) Tj ET Q q 0 0 0 rg BT 410.21 309.05 Td (in ) Tj ET Q q 0 0 0 rg BT 419.91 309.05 Td (the ) Tj ET Q q 0 0 0 rg BT 435.12 309.05 Td (loss ) Tj ET Q q 0 0 0 rg BT 453.82 309.05 Td (of ) Tj ET Q q 0 0 0 rg BT 464.02 309.05 Td (the ) Tj ET Q q 0 0 0 rg BT 479.23 309.05 Td (client) Tj ET Q q 0 0 0 rg BT 502.08 309.05 Td (s ) Tj ET Q q 0 0 0 rg BT 509.27 309.05 Td (business ) Tj ET Q q 0 0 0 rg BT 547.49 309.05 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 295.55 Td (impairing ) Tj ET Q q 0 0 0 rg BT 110.44 295.55 Td (our ) Tj ET Q q 0 0 0 rg BT 125.37 295.55 Td (future ) Tj ET Q q 0 0 0 rg BT 150.30 295.55 Td (prospects. ) Tj ET Q q 0 0 0 rg BT 193.62 295.55 Td (There ) Tj ET Q q 0 0 0 rg BT 219.06 295.55 Td (can ) Tj ET Q q 0 0 0 rg BT 235.49 295.55 Td (be ) Tj ET Q q 0 0 0 rg BT 247.42 295.55 Td (no ) Tj ET Q q 0 0 0 rg BT 259.36 295.55 Td (assurance ) Tj ET Q q 0 0 0 rg BT 302.80 295.55 Td (that ) Tj ET Q q 0 0 0 rg BT 319.74 295.55 Td (we ) Tj ET Q q 0 0 0 rg BT 333.17 295.55 Td (will ) Tj ET Q q 0 0 0 rg BT 347.59 295.55 Td (be ) Tj ET Q q 0 0 0 rg BT 359.52 295.55 Td (able ) Tj ET Q q 0 0 0 rg BT 378.46 295.55 Td (to ) Tj ET Q q 0 0 0 rg BT 387.89 295.55 Td (achieve ) Tj ET Q q 0 0 0 rg BT 420.83 295.55 Td (the ) Tj ET Q q 0 0 0 rg BT 435.27 295.55 Td (objectives ) Tj ET Q q 0 0 0 rg BT 477.21 295.55 Td (of ) Tj ET Q q 0 0 0 rg BT 486.64 295.55 Td (our ) Tj ET Q q 0 0 0 rg BT 501.57 295.55 Td (growth ) Tj ET Q q 0 0 0 rg BT 530.50 295.55 Td (strategy ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 282.05 Td (in ) Tj ET Q q 0 0 0 rg BT 81.51 282.05 Td (order ) Tj ET Q q 0 0 0 rg BT 105.02 282.05 Td (to ) Tj ET Q q 0 0 0 rg BT 115.02 282.05 Td (maintain ) Tj ET Q q 0 0 0 rg BT 151.54 282.05 Td (and ) Tj ET Q q 0 0 0 rg BT 169.06 282.05 Td (increase ) Tj ET Q q 0 0 0 rg BT 205.58 282.05 Td (our ) Tj ET Q q 0 0 0 rg BT 221.08 282.05 Td (geographic ) Tj ET Q q 0 0 0 rg BT 268.12 282.05 Td (scope ) Tj ET Q q 0 0 0 rg BT 294.64 282.05 Td (and ) Tj ET Q q 0 0 0 rg BT 312.15 282.05 Td (critical ) Tj ET Q q 0 0 0 rg BT 340.15 282.05 Td (mass ) Tj ET Q q 0 0 0 rg BT 364.16 282.05 Td (in ) Tj ET Q q 0 0 0 rg BT 373.66 282.05 Td (our ) Tj ET Q q 0 0 0 rg BT 389.17 282.05 Td (targeted ) Tj ET Q q 0 0 0 rg BT 424.70 282.05 Td (markets.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 260.966796875 m 157.5234375 260.966796875 l s q 0 0 0 rg BT 73.50 262.25 Td (Early ) Tj ET Q q 0 0 0 rg BT 96.51 262.25 Td (termination ) Tj ET Q q 0 0 0 rg BT 143.53 262.25 Td (risk) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 245.75 Td (If ) Tj ET Q q 0 0 0 rg BT 80.25 245.75 Td (we ) Tj ET Q q 0 0 0 rg BT 95.01 245.75 Td (should ) Tj ET Q q 0 0 0 rg BT 124.78 245.75 Td (fail ) Tj ET Q q 0 0 0 rg BT 139.54 245.75 Td (to ) Tj ET Q q 0 0 0 rg BT 150.29 245.75 Td (deliver ) Tj ET Q q 0 0 0 rg BT 180.06 245.75 Td (our ) Tj ET Q q 0 0 0 rg BT 196.32 245.75 Td (services ) Tj ET Q q 0 0 0 rg BT 232.58 245.75 Td (according ) Tj ET Q q 0 0 0 rg BT 274.85 245.75 Td (to ) Tj ET Q q 0 0 0 rg BT 285.61 245.75 Td (contractual ) Tj ET Q q 0 0 0 rg BT 332.88 245.75 Td (agreements, ) Tj ET Q q 0 0 0 rg BT 386.16 245.75 Td (some ) Tj ET Q q 0 0 0 rg BT 411.42 245.75 Td (of ) Tj ET Q q 0 0 0 rg BT 422.18 245.75 Td (our ) Tj ET Q q 0 0 0 rg BT 438.44 245.75 Td (clients ) Tj ET Q q 0 0 0 rg BT 467.20 245.75 Td (could ) Tj ET Q q 0 0 0 rg BT 491.97 245.75 Td (elect ) Tj ET Q q 0 0 0 rg BT 514.23 245.75 Td (to ) Tj ET Q q 0 0 0 rg BT 524.99 245.75 Td (terminate ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 232.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 110.67 232.25 Td (before ) Tj ET Q q 0 0 0 rg BT 138.34 232.25 Td (their ) Tj ET Q q 0 0 0 rg BT 158.01 232.25 Td (agreed ) Tj ET Q q 0 0 0 rg BT 188.18 232.25 Td (expiry ) Tj ET Q q 0 0 0 rg BT 214.35 232.25 Td (date, ) Tj ET Q q 0 0 0 rg BT 236.52 232.25 Td (which ) Tj ET Q q 0 0 0 rg BT 261.68 232.25 Td (would ) Tj ET Q q 0 0 0 rg BT 287.35 232.25 Td (result ) Tj ET Q q 0 0 0 rg BT 311.52 232.25 Td (in ) Tj ET Q q 0 0 0 rg BT 320.67 232.25 Td (a ) Tj ET Q q 0 0 0 rg BT 327.83 232.25 Td (reduction ) Tj ET Q q 0 0 0 rg BT 367.01 232.25 Td (of ) Tj ET Q q 0 0 0 rg BT 376.67 232.25 Td (our ) Tj ET Q q 0 0 0 rg BT 391.84 232.25 Td (earnings ) Tj ET Q q 0 0 0 rg BT 428.52 232.25 Td (and ) Tj ET Q q 0 0 0 rg BT 445.69 232.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 466.85 232.25 Td (flow ) Tj ET Q q 0 0 0 rg BT 485.01 232.25 Td (and ) Tj ET Q q 0 0 0 rg BT 502.18 232.25 Td (may ) Tj ET Q q 0 0 0 rg BT 521.34 232.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 550.00 232.25 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 218.75 Td (value ) Tj ET Q q 0 0 0 rg BT 95.82 218.75 Td (of ) Tj ET Q q 0 0 0 rg BT 105.63 218.75 Td (our ) Tj ET Q q 0 0 0 rg BT 120.95 218.75 Td (backlog. ) Tj ET Q q 0 0 0 rg BT 156.78 218.75 Td (In ) Tj ET Q q 0 0 0 rg BT 166.59 218.75 Td (addition, ) Tj ET Q q 0 0 0 rg BT 202.92 218.75 Td (a ) Tj ET Q q 0 0 0 rg BT 210.23 218.75 Td (number ) Tj ET Q q 0 0 0 rg BT 243.05 218.75 Td (of ) Tj ET Q q 0 0 0 rg BT 252.87 218.75 Td (our ) Tj ET Q q 0 0 0 rg BT 268.18 218.75 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 317.02 218.75 Td (contractual ) Tj ET Q q 0 0 0 rg BT 363.35 218.75 Td (agreements ) Tj ET Q q 0 0 0 rg BT 413.18 218.75 Td (have ) Tj ET Q q 0 0 0 rg BT 435.00 218.75 Td (termination ) Tj ET Q q 0 0 0 rg BT 481.83 218.75 Td (for ) Tj ET Q q 0 0 0 rg BT 494.64 218.75 Td (convenience ) Tj ET Q q 0 0 0 rg BT 547.48 218.75 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 205.25 Td (change ) Tj ET Q q 0 0 0 rg BT 103.93 205.25 Td (of ) Tj ET Q q 0 0 0 rg BT 113.85 205.25 Td (control ) Tj ET Q q 0 0 0 rg BT 143.27 205.25 Td (clauses ) Tj ET Q q 0 0 0 rg BT 176.19 205.25 Td (according ) Tj ET Q q 0 0 0 rg BT 217.62 205.25 Td (to ) Tj ET Q q 0 0 0 rg BT 227.54 205.25 Td (which ) Tj ET Q q 0 0 0 rg BT 252.95 205.25 Td (a ) Tj ET Q q 0 0 0 rg BT 260.37 205.25 Td (change ) Tj ET Q q 0 0 0 rg BT 292.30 205.25 Td (in ) Tj ET Q q 0 0 0 rg BT 301.71 205.25 Td (the ) Tj ET Q q 0 0 0 rg BT 316.63 205.25 Td (client) Tj ET Q q 0 0 0 rg BT 339.48 205.25 Td (s ) Tj ET Q q 0 0 0 rg BT 346.39 205.25 Td (intentions ) Tj ET Q q 0 0 0 rg BT 387.32 205.25 Td (or ) Tj ET Q q 0 0 0 rg BT 397.73 205.25 Td (a ) Tj ET Q q 0 0 0 rg BT 405.15 205.25 Td (change ) Tj ET Q q 0 0 0 rg BT 437.08 205.25 Td (in ) Tj ET Q q 0 0 0 rg BT 446.49 205.25 Td (control ) Tj ET Q q 0 0 0 rg BT 475.91 205.25 Td (of ) Tj ET Q q 0 0 0 rg BT 485.83 205.25 Td (CGI ) Tj ET Q q 0 0 0 rg BT 504.24 205.25 Td (could ) Tj ET Q q 0 0 0 rg BT 528.16 205.25 Td (lead ) Tj ET Q q 0 0 0 rg BT 547.58 205.25 Td (to ) Tj ET Q q 0 0 0 rg BT 557.50 205.25 Td (a ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 191.75 Td (termination ) Tj ET Q q 0 0 0 rg BT 120.62 191.75 Td (of ) Tj ET Q q 0 0 0 rg BT 132.23 191.75 Td (these ) Tj ET Q q 0 0 0 rg BT 158.34 191.75 Td (agreements. ) Tj ET Q q 0 0 0 rg BT 212.47 191.75 Td (Early ) Tj ET Q q 0 0 0 rg BT 237.07 191.75 Td (contract ) Tj ET Q q 0 0 0 rg BT 273.18 191.75 Td (termination ) Tj ET Q q 0 0 0 rg BT 321.80 191.75 Td (can ) Tj ET Q q 0 0 0 rg BT 340.41 191.75 Td (also ) Tj ET Q q 0 0 0 rg BT 361.02 191.75 Td (result ) Tj ET Q q 0 0 0 rg BT 387.13 191.75 Td (from ) Tj ET Q q 0 0 0 rg BT 409.23 191.75 Td (the ) Tj ET Q q 0 0 0 rg BT 425.84 191.75 Td (exercise ) Tj ET Q q 0 0 0 rg BT 463.45 191.75 Td (of ) Tj ET Q q 0 0 0 rg BT 475.06 191.75 Td (a ) Tj ET Q q 0 0 0 rg BT 484.16 191.75 Td (legal ) Tj ET Q q 0 0 0 rg BT 507.28 191.75 Td (right ) Tj ET Q q 0 0 0 rg BT 528.88 191.75 Td (or ) Tj ET Q q 0 0 0 rg BT 540.98 191.75 Td (when ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 178.25 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 132.13 178.25 Td (that ) Tj ET Q q 0 0 0 rg BT 149.77 178.25 Td (are ) Tj ET Q q 0 0 0 rg BT 165.39 178.25 Td (beyond ) Tj ET Q q 0 0 0 rg BT 197.54 178.25 Td (our ) Tj ET Q q 0 0 0 rg BT 213.17 178.25 Td (control ) Tj ET Q q 0 0 0 rg BT 242.80 178.25 Td (or ) Tj ET Q q 0 0 0 rg BT 253.42 178.25 Td (beyond ) Tj ET Q q 0 0 0 rg BT 285.57 178.25 Td (the ) Tj ET Q q 0 0 0 rg BT 300.70 178.25 Td (control ) Tj ET Q q 0 0 0 rg BT 330.33 178.25 Td (of ) Tj ET Q q 0 0 0 rg BT 340.45 178.25 Td (our ) Tj ET Q q 0 0 0 rg BT 356.08 178.25 Td (client ) Tj ET Q q 0 0 0 rg BT 379.71 178.25 Td (prevent ) Tj ET Q q 0 0 0 rg BT 412.35 178.25 Td (the ) Tj ET Q q 0 0 0 rg BT 427.48 178.25 Td (contract ) Tj ET Q q 0 0 0 rg BT 462.11 178.25 Td (from ) Tj ET Q q 0 0 0 rg BT 482.73 178.25 Td (continuing. ) Tj ET Q q 0 0 0 rg BT 528.88 178.25 Td (In ) Tj ET Q q 0 0 0 rg BT 539.01 178.25 Td (cases ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 164.75 Td (of ) Tj ET Q q 0 0 0 rg BT 82.21 164.75 Td (early ) Tj ET Q q 0 0 0 rg BT 104.42 164.75 Td (termination, ) Tj ET Q q 0 0 0 rg BT 154.14 164.75 Td (we ) Tj ET Q q 0 0 0 rg BT 168.35 164.75 Td (may ) Tj ET Q q 0 0 0 rg BT 188.05 164.75 Td (not ) Tj ET Q q 0 0 0 rg BT 203.27 164.75 Td (be ) Tj ET Q q 0 0 0 rg BT 215.98 164.75 Td (able ) Tj ET Q q 0 0 0 rg BT 235.70 164.75 Td (to ) Tj ET Q q 0 0 0 rg BT 245.90 164.75 Td (recover ) Tj ET Q q 0 0 0 rg BT 278.62 164.75 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 323.85 164.75 Td (contract ) Tj ET Q q 0 0 0 rg BT 358.56 164.75 Td (costs ) Tj ET Q q 0 0 0 rg BT 382.27 164.75 Td (and ) Tj ET Q q 0 0 0 rg BT 399.99 164.75 Td (we ) Tj ET Q q 0 0 0 rg BT 414.19 164.75 Td (may ) Tj ET Q q 0 0 0 rg BT 433.90 164.75 Td (not ) Tj ET Q q 0 0 0 rg BT 449.11 164.75 Td (be ) Tj ET Q q 0 0 0 rg BT 461.83 164.75 Td (able ) Tj ET Q q 0 0 0 rg BT 481.54 164.75 Td (to ) Tj ET Q q 0 0 0 rg BT 491.75 164.75 Td (eliminate ) Tj ET Q q 0 0 0 rg BT 530.47 164.75 Td (ongoing ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 151.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 95.51 151.25 Td (incurred ) Tj ET Q q 0 0 0 rg BT 130.52 151.25 Td (to ) Tj ET Q q 0 0 0 rg BT 140.53 151.25 Td (support ) Tj ET Q q 0 0 0 rg BT 173.05 151.25 Td (the ) Tj ET Q q 0 0 0 rg BT 188.06 151.25 Td (contract.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 134.45 Td () Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 74.50048828125 133.16679687500005 m 157.52197265625 133.16679687500005 l s q 0 0 0 rg BT 74.50 134.45 Td (Cost ) Tj ET Q q 0 0 0 rg BT 95.51 134.45 Td (estimation ) Tj ET Q q 0 0 0 rg BT 139.03 134.45 Td (risks) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 120.95 Td (In ) Tj ET Q q 0 0 0 rg BT 81.97 120.95 Td (order ) Tj ET Q q 0 0 0 rg BT 105.44 120.95 Td (to ) Tj ET Q q 0 0 0 rg BT 115.40 120.95 Td (generate ) Tj ET Q q 0 0 0 rg BT 153.39 120.95 Td (acceptable ) Tj ET Q q 0 0 0 rg BT 199.38 120.95 Td (margins, ) Tj ET Q q 0 0 0 rg BT 236.35 120.95 Td (our ) Tj ET Q q 0 0 0 rg BT 251.82 120.95 Td (pricing ) Tj ET Q q 0 0 0 rg BT 280.79 120.95 Td (for ) Tj ET Q q 0 0 0 rg BT 293.76 120.95 Td (services ) Tj ET Q q 0 0 0 rg BT 329.22 120.95 Td (is ) Tj ET Q q 0 0 0 rg BT 338.18 120.95 Td (dependent ) Tj ET Q q 0 0 0 rg BT 383.19 120.95 Td (on ) Tj ET Q q 0 0 0 rg BT 395.66 120.95 Td (our ) Tj ET Q q 0 0 0 rg BT 411.13 120.95 Td (ability ) Tj ET Q q 0 0 0 rg BT 436.60 120.95 Td (to ) Tj ET Q q 0 0 0 rg BT 446.56 120.95 Td (accurately ) Tj ET Q q 0 0 0 rg BT 490.04 120.95 Td (estimate ) Tj ET Q q 0 0 0 rg BT 526.51 120.95 Td (the ) Tj ET Q q 0 0 0 rg BT 541.48 120.95 Td (costs ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 107.45 Td (and ) Tj ET Q q 0 0 0 rg BT 89.34 107.45 Td (timing ) Tj ET Q q 0 0 0 rg BT 115.68 107.45 Td (for ) Tj ET Q q 0 0 0 rg BT 128.51 107.45 Td (completing ) Tj ET Q q 0 0 0 rg BT 174.36 107.45 Td (projects ) Tj ET Q q 0 0 0 rg BT 208.20 107.45 Td (or ) Tj ET Q q 0 0 0 rg BT 218.53 107.45 Td (long-term ) Tj ET Q q 0 0 0 rg BT 258.88 107.45 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 307.73 107.45 Td (contracts. ) Tj ET Q q 0 0 0 rg BT 349.08 107.45 Td (In ) Tj ET Q q 0 0 0 rg BT 358.91 107.45 Td (addition, ) Tj ET Q q 0 0 0 rg BT 395.26 107.45 Td (a ) Tj ET Q q 0 0 0 rg BT 402.60 107.45 Td (significant ) Tj ET Q q 0 0 0 rg BT 444.95 107.45 Td (portion ) Tj ET Q q 0 0 0 rg BT 474.79 107.45 Td (of ) Tj ET Q q 0 0 0 rg BT 484.63 107.45 Td (our ) Tj ET Q q 0 0 0 rg BT 499.96 107.45 Td (project-oriented ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 93.95 Td (contracts ) Tj ET Q q 0 0 0 rg BT 110.11 93.95 Td (are ) Tj ET Q q 0 0 0 rg BT 124.72 93.95 Td (performed ) Tj ET Q q 0 0 0 rg BT 167.33 93.95 Td (on ) Tj ET Q q 0 0 0 rg BT 178.94 93.95 Td (a ) Tj ET Q q 0 0 0 rg BT 185.55 93.95 Td (fixed-price ) Tj ET Q q 0 0 0 rg BT 228.66 93.95 Td (basis. ) Tj ET Q q 0 0 0 rg BT 253.77 93.95 Td (Billing ) Tj ET Q q 0 0 0 rg BT 279.38 93.95 Td (for ) Tj ET Q q 0 0 0 rg BT 291.48 93.95 Td (fixed-price ) Tj ET Q q 0 0 0 rg BT 334.59 93.95 Td (engagements ) Tj ET Q q 0 0 0 rg BT 390.73 93.95 Td (is ) Tj ET Q q 0 0 0 rg BT 398.83 93.95 Td (carried ) Tj ET Q q 0 0 0 rg BT 427.94 93.95 Td (out ) Tj ET Q q 0 0 0 rg BT 442.05 93.95 Td (in ) Tj ET Q q 0 0 0 rg BT 450.65 93.95 Td (accordance ) Tj ET Q q 0 0 0 rg BT 498.78 93.95 Td (with ) Tj ET Q q 0 0 0 rg BT 516.38 93.95 Td (the ) Tj ET Q q 0 0 0 rg BT 530.49 93.95 Td (contract ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 80.45 Td (terms ) Tj ET Q q 0 0 0 rg BT 96.78 80.45 Td (agreed ) Tj ET Q q 0 0 0 rg BT 127.08 80.45 Td (upon ) Tj ET Q q 0 0 0 rg BT 149.38 80.45 Td (with ) Tj ET Q q 0 0 0 rg BT 167.67 80.45 Td (our ) Tj ET Q q 0 0 0 rg BT 182.95 80.45 Td (client, ) Tj ET Q q 0 0 0 rg BT 208.74 80.45 Td (and ) Tj ET Q q 0 0 0 rg BT 226.04 80.45 Td (revenue ) Tj ET Q q 0 0 0 rg BT 260.84 80.45 Td (is ) Tj ET Q q 0 0 0 rg BT 269.62 80.45 Td (recognized ) Tj ET Q q 0 0 0 rg BT 315.93 80.45 Td (based ) Tj ET Q q 0 0 0 rg BT 342.73 80.45 Td (on ) Tj ET Q q 0 0 0 rg BT 355.02 80.45 Td (the ) Tj ET Q q 0 0 0 rg BT 369.81 80.45 Td (percentage ) Tj ET Q q 0 0 0 rg BT 417.13 80.45 Td (of ) Tj ET Q q 0 0 0 rg BT 426.91 80.45 Td (ef) Tj ET Q q 0 0 0 rg BT 434.25 80.45 Td (fort ) Tj ET Q q 0 0 0 rg BT 449.54 80.45 Td (incurred ) Tj ET Q q 0 0 0 rg BT 484.33 80.45 Td (to ) Tj ET Q q 0 0 0 rg BT 494.12 80.45 Td (date ) Tj ET Q q 0 0 0 rg BT 513.91 80.45 Td (in ) Tj ET Q q 0 0 0 rg BT 523.20 80.45 Td (relation ) Tj ET Q q 0 0 0 rg BT 554.99 80.45 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 66.95 Td (the ) Tj ET Q q 0 0 0 rg BT 86.30 66.95 Td (total ) Tj ET Q q 0 0 0 rg BT 105.10 66.95 Td (estimated ) Tj ET Q q 0 0 0 rg BT 145.91 66.95 Td (ef) Tj ET Q q 0 0 0 rg BT 153.26 66.95 Td (forts ) Tj ET Q q 0 0 0 rg BT 172.55 66.95 Td (to ) Tj ET Q q 0 0 0 rg BT 181.85 66.95 Td (be ) Tj ET Q q 0 0 0 rg BT 193.65 66.95 Td (incurred ) Tj ET Q q 0 0 0 rg BT 227.96 66.95 Td (over ) Tj ET Q q 0 0 0 rg BT 247.26 66.95 Td (the ) Tj ET Q q 0 0 0 rg BT 261.56 66.95 Td (duration ) Tj ET Q q 0 0 0 rg BT 295.87 66.95 Td (of ) Tj ET Q q 0 0 0 rg BT 305.17 66.95 Td (the ) Tj ET Q q 0 0 0 rg BT 319.47 66.95 Td (respective ) Tj ET Q q 0 0 0 rg BT 362.28 66.95 Td (contract. ) Tj ET Q q 0 0 0 rg BT 398.47 66.95 Td (These ) Tj ET Q q 0 0 0 rg BT 425.28 66.95 Td (estimates ) Tj ET Q q 0 0 0 rg BT 465.58 66.95 Td (reflect ) Tj ET Q q 0 0 0 rg BT 491.88 66.95 Td (our ) Tj ET Q q 0 0 0 rg BT 506.68 66.95 Td (best ) Tj ET Q q 0 0 0 rg BT 525.48 66.95 Td (judgment ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 53.45 Td (regarding ) Tj ET Q q 0 0 0 rg BT 112.88 53.45 Td (the ) Tj ET Q q 0 0 0 rg BT 128.25 53.45 Td (ef) Tj ET Q q 0 0 0 rg BT 135.59 53.45 Td (ficiencies ) Tj ET Q q 0 0 0 rg BT 175.46 53.45 Td (of ) Tj ET Q q 0 0 0 rg BT 185.82 53.45 Td (our ) Tj ET Q q 0 0 0 rg BT 201.68 53.45 Td (methodologies ) Tj ET Q q 0 0 0 rg BT 263.08 53.45 Td (and ) Tj ET Q q 0 0 0 rg BT 280.95 53.45 Td (professionals ) Tj ET Q q 0 0 0 rg BT 336.83 53.45 Td (as ) Tj ET Q q 0 0 0 rg BT 349.19 53.45 Td (we ) Tj ET Q q 0 0 0 rg BT 363.55 53.45 Td (plan ) Tj ET Q q 0 0 0 rg BT 383.42 53.45 Td (to ) Tj ET Q q 0 0 0 rg BT 393.78 53.45 Td (apply ) Tj ET Q q 0 0 0 rg BT 418.15 53.45 Td (them ) Tj ET Q q 0 0 0 rg BT 441.01 53.45 Td (to ) Tj ET Q q 0 0 0 rg BT 451.37 53.45 Td (the ) Tj ET Q q 0 0 0 rg BT 466.74 53.45 Td (contracts ) Tj ET Q q 0 0 0 rg BT 506.11 53.45 Td (in ) Tj ET Q q 0 0 0 rg BT 515.97 53.45 Td (accordance ) Tj ET Q endstream endobj 105 0 obj <> endobj 106 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (51) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 708.95 Td (with ) Tj ET Q q 0 0 0 rg BT 91.20 708.95 Td (the ) Tj ET Q q 0 0 0 rg BT 106.91 708.95 Td (CGI ) Tj ET Q q 0 0 0 rg BT 126.10 708.95 Td (Client ) Tj ET Q q 0 0 0 rg BT 152.31 708.95 Td (Partnership ) Tj ET Q q 0 0 0 rg BT 201.53 708.95 Td (Management ) Tj ET Q q 0 0 0 rg BT 257.25 708.95 Td (Framework ) Tj ET Q q 0 0 0 rg BT 305.45 708.95 Td (\("CPMF"\), ) Tj ET Q q 0 0 0 rg BT 349.03 708.95 Td (a ) Tj ET Q q 0 0 0 rg BT 357.23 708.95 Td (process ) Tj ET Q q 0 0 0 rg BT 391.94 708.95 Td (framework ) Tj ET Q q 0 0 0 rg BT 437.14 708.95 Td (that ) Tj ET Q q 0 0 0 rg BT 455.35 708.95 Td (contains ) Tj ET Q q 0 0 0 rg BT 492.07 708.95 Td (high ) Tj ET Q q 0 0 0 rg BT 512.28 708.95 Td (standards ) Tj ET Q q 0 0 0 rg BT 555.00 708.95 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 695.45 Td (contract ) Tj ET Q q 0 0 0 rg BT 105.73 695.45 Td (management ) Tj ET Q q 0 0 0 rg BT 159.97 695.45 Td (to ) Tj ET Q q 0 0 0 rg BT 169.19 695.45 Td (be ) Tj ET Q q 0 0 0 rg BT 180.91 695.45 Td (applied ) Tj ET Q q 0 0 0 rg BT 211.65 695.45 Td (throughout ) Tj ET Q q 0 0 0 rg BT 256.40 695.45 Td (the ) Tj ET Q q 0 0 0 rg BT 270.63 695.45 Td (organization. ) Tj ET Q q 0 0 0 rg BT 323.87 695.45 Td (If ) Tj ET Q q 0 0 0 rg BT 330.59 695.45 Td (we ) Tj ET Q q 0 0 0 rg BT 343.81 695.45 Td (fail ) Tj ET Q q 0 0 0 rg BT 357.02 695.45 Td (to ) Tj ET Q q 0 0 0 rg BT 366.24 695.45 Td (apply ) Tj ET Q q 0 0 0 rg BT 389.47 695.45 Td (the ) Tj ET Q q 0 0 0 rg BT 403.69 695.45 Td (CPMF ) Tj ET Q q 0 0 0 rg BT 430.90 695.45 Td (correctly ) Tj ET Q q 0 0 0 rg BT 466.62 695.45 Td (or ) Tj ET Q q 0 0 0 rg BT 476.34 695.45 Td (if ) Tj ET Q q 0 0 0 rg BT 482.55 695.45 Td (we ) Tj ET Q q 0 0 0 rg BT 495.77 695.45 Td (are ) Tj ET Q q 0 0 0 rg BT 510.49 695.45 Td (unsuccessful ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 681.95 Td (in ) Tj ET Q q 0 0 0 rg BT 82.27 681.95 Td (accurately ) Tj ET Q q 0 0 0 rg BT 126.55 681.95 Td (estimating ) Tj ET Q q 0 0 0 rg BT 170.84 681.95 Td (the ) Tj ET Q q 0 0 0 rg BT 186.61 681.95 Td (time ) Tj ET Q q 0 0 0 rg BT 206.88 681.95 Td (or ) Tj ET Q q 0 0 0 rg BT 218.15 681.95 Td (resources ) Tj ET Q q 0 0 0 rg BT 260.93 681.95 Td (required ) Tj ET Q q 0 0 0 rg BT 297.21 681.95 Td (to ) Tj ET Q q 0 0 0 rg BT 307.98 681.95 Td (fulfill ) Tj ET Q q 0 0 0 rg BT 329.25 681.95 Td (our ) Tj ET Q q 0 0 0 rg BT 345.52 681.95 Td (obligations ) Tj ET Q q 0 0 0 rg BT 391.82 681.95 Td (under ) Tj ET Q q 0 0 0 rg BT 418.10 681.95 Td (a ) Tj ET Q q 0 0 0 rg BT 426.37 681.95 Td (contract, ) Tj ET Q q 0 0 0 rg BT 464.15 681.95 Td (or ) Tj ET Q q 0 0 0 rg BT 475.42 681.95 Td (if ) Tj ET Q q 0 0 0 rg BT 483.18 681.95 Td (unexpected ) Tj ET Q q 0 0 0 rg BT 532.99 681.95 Td (factors, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 668.45 Td (including ) Tj ET Q q 0 0 0 rg BT 110.16 668.45 Td (those ) Tj ET Q q 0 0 0 rg BT 134.80 668.45 Td (outside ) Tj ET Q q 0 0 0 rg BT 166.45 668.45 Td (of ) Tj ET Q q 0 0 0 rg BT 176.59 668.45 Td (our ) Tj ET Q q 0 0 0 rg BT 192.23 668.45 Td (control, ) Tj ET Q q 0 0 0 rg BT 224.37 668.45 Td (arise, ) Tj ET Q q 0 0 0 rg BT 249.01 668.45 Td (there ) Tj ET Q q 0 0 0 rg BT 272.15 668.45 Td (may ) Tj ET Q q 0 0 0 rg BT 291.78 668.45 Td (be ) Tj ET Q q 0 0 0 rg BT 304.42 668.45 Td (an ) Tj ET Q q 0 0 0 rg BT 317.06 668.45 Td (impact ) Tj ET Q q 0 0 0 rg BT 346.20 668.45 Td (on ) Tj ET Q q 0 0 0 rg BT 358.84 668.45 Td (costs ) Tj ET Q q 0 0 0 rg BT 382.48 668.45 Td (or ) Tj ET Q q 0 0 0 rg BT 393.11 668.45 Td (the ) Tj ET Q q 0 0 0 rg BT 408.25 668.45 Td (delivery ) Tj ET Q q 0 0 0 rg BT 441.89 668.45 Td (schedule ) Tj ET Q q 0 0 0 rg BT 480.55 668.45 Td (which ) Tj ET Q q 0 0 0 rg BT 506.19 668.45 Td (could ) Tj ET Q q 0 0 0 rg BT 530.34 668.45 Td (have ) Tj ET Q q 0 0 0 rg BT 552.48 668.45 Td (an ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 654.95 Td (adverse ) Tj ET Q q 0 0 0 rg BT 106.52 654.95 Td (ef) Tj ET Q q 0 0 0 rg BT 113.86 654.95 Td (fect ) Tj ET Q q 0 0 0 rg BT 130.87 654.95 Td (on ) Tj ET Q q 0 0 0 rg BT 143.38 654.95 Td (our ) Tj ET Q q 0 0 0 rg BT 158.89 654.95 Td (expected ) Tj ET Q q 0 0 0 rg BT 197.92 654.95 Td (net ) Tj ET Q q 0 0 0 rg BT 212.93 654.95 Td (earnings.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 633.866796875 m 291.11279296875 633.866796875 l s q 0 0 0 rg BT 73.50 635.15 Td (Risks ) Tj ET Q q 0 0 0 rg BT 98.00 635.15 Td (related ) Tj ET Q q 0 0 0 rg BT 128.02 635.15 Td (to ) Tj ET Q q 0 0 0 rg BT 138.02 635.15 Td (teaming ) Tj ET Q q 0 0 0 rg BT 172.54 635.15 Td (agreements ) Tj ET Q q 0 0 0 rg BT 222.57 635.15 Td (and ) Tj ET Q q 0 0 0 rg BT 240.09 635.15 Td (subcontracts) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 618.65 Td (W) Tj ET Q q 0 0 0 rg BT 80.33 618.65 Td (e ) Tj ET Q q 0 0 0 rg BT 86.83 618.65 Td (derive ) Tj ET Q q 0 0 0 rg BT 112.84 618.65 Td (revenues ) Tj ET Q q 0 0 0 rg BT 151.37 618.65 Td (from ) Tj ET Q q 0 0 0 rg BT 170.86 618.65 Td (contracts ) Tj ET Q q 0 0 0 rg BT 208.87 618.65 Td (where ) Tj ET Q q 0 0 0 rg BT 234.88 618.65 Td (we ) Tj ET Q q 0 0 0 rg BT 247.89 618.65 Td (enter ) Tj ET Q q 0 0 0 rg BT 269.90 618.65 Td (into ) Tj ET Q q 0 0 0 rg BT 285.90 618.65 Td (teaming ) Tj ET Q q 0 0 0 rg BT 319.42 618.65 Td (agreements ) Tj ET Q q 0 0 0 rg BT 368.44 618.65 Td (with ) Tj ET Q q 0 0 0 rg BT 385.95 618.65 Td (other ) Tj ET Q q 0 0 0 rg BT 407.96 618.65 Td (providers. ) Tj ET Q q 0 0 0 rg BT 448.97 618.65 Td (In ) Tj ET Q q 0 0 0 rg BT 457.97 618.65 Td (some ) Tj ET Q q 0 0 0 rg BT 481.48 618.65 Td (teaming ) Tj ET Q q 0 0 0 rg BT 514.99 618.65 Td (agreements ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 605.15 Td (we ) Tj ET Q q 0 0 0 rg BT 85.47 605.15 Td (are ) Tj ET Q q 0 0 0 rg BT 100.45 605.15 Td (the ) Tj ET Q q 0 0 0 rg BT 114.92 605.15 Td (prime ) Tj ET Q q 0 0 0 rg BT 139.40 605.15 Td (contractor ) Tj ET Q q 0 0 0 rg BT 181.38 605.15 Td (whereas ) Tj ET Q q 0 0 0 rg BT 217.36 605.15 Td (in ) Tj ET Q q 0 0 0 rg BT 226.34 605.15 Td (others ) Tj ET Q q 0 0 0 rg BT 253.32 605.15 Td (we ) Tj ET Q q 0 0 0 rg BT 266.79 605.15 Td (act ) Tj ET Q q 0 0 0 rg BT 280.76 605.15 Td (as ) Tj ET Q q 0 0 0 rg BT 292.23 605.15 Td (a ) Tj ET Q q 0 0 0 rg BT 299.20 605.15 Td (subcontractor) Tj ET Q q 0 0 0 rg BT 353.24 605.15 Td (. ) Tj ET Q q 0 0 0 rg BT 357.70 605.15 Td (In ) Tj ET Q q 0 0 0 rg BT 367.18 605.15 Td (both ) Tj ET Q q 0 0 0 rg BT 386.66 605.15 Td (cases, ) Tj ET Q q 0 0 0 rg BT 414.64 605.15 Td (we ) Tj ET Q q 0 0 0 rg BT 428.11 605.15 Td (rely ) Tj ET Q q 0 0 0 rg BT 444.58 605.15 Td (on ) Tj ET Q q 0 0 0 rg BT 456.55 605.15 Td (our ) Tj ET Q q 0 0 0 rg BT 471.53 605.15 Td (relationships ) Tj ET Q q 0 0 0 rg BT 524.02 605.15 Td (with ) Tj ET Q q 0 0 0 rg BT 542.00 605.15 Td (other ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 591.65 Td (providers ) Tj ET Q q 0 0 0 rg BT 111.34 591.65 Td (to ) Tj ET Q q 0 0 0 rg BT 121.18 591.65 Td (generate ) Tj ET Q q 0 0 0 rg BT 159.04 591.65 Td (business ) Tj ET Q q 0 0 0 rg BT 196.89 591.65 Td (and ) Tj ET Q q 0 0 0 rg BT 214.24 591.65 Td (we ) Tj ET Q q 0 0 0 rg BT 228.07 591.65 Td (expect ) Tj ET Q q 0 0 0 rg BT 256.92 591.65 Td (to ) Tj ET Q q 0 0 0 rg BT 266.75 591.65 Td (do ) Tj ET Q q 0 0 0 rg BT 279.09 591.65 Td (so ) Tj ET Q q 0 0 0 rg BT 290.93 591.65 Td (in ) Tj ET Q q 0 0 0 rg BT 300.26 591.65 Td (the ) Tj ET Q q 0 0 0 rg BT 315.10 591.65 Td (foreseeable ) Tj ET Q q 0 0 0 rg BT 364.47 591.65 Td (future. ) Tj ET Q q 0 0 0 rg BT 392.31 591.65 Td (Where ) Tj ET Q q 0 0 0 rg BT 421.15 591.65 Td (we ) Tj ET Q q 0 0 0 rg BT 434.98 591.65 Td (act ) Tj ET Q q 0 0 0 rg BT 449.32 591.65 Td (as ) Tj ET Q q 0 0 0 rg BT 461.15 591.65 Td (prime ) Tj ET Q q 0 0 0 rg BT 485.99 591.65 Td (contractor) Tj ET Q q 0 0 0 rg BT 525.51 591.65 Td (, ) Tj ET Q q 0 0 0 rg BT 530.34 591.65 Td (if ) Tj ET Q q 0 0 0 rg BT 537.17 591.65 Td (we ) Tj ET Q q 0 0 0 rg BT 551.00 591.65 Td (fail ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 578.15 Td (to ) Tj ET Q q 0 0 0 rg BT 83.44 578.15 Td (maintain ) Tj ET Q q 0 0 0 rg BT 121.39 578.15 Td (our ) Tj ET Q q 0 0 0 rg BT 138.33 578.15 Td (relationships ) Tj ET Q q 0 0 0 rg BT 192.79 578.15 Td (with ) Tj ET Q q 0 0 0 rg BT 212.73 578.15 Td (other ) Tj ET Q q 0 0 0 rg BT 237.18 578.15 Td (providers, ) Tj ET Q q 0 0 0 rg BT 280.63 578.15 Td (we ) Tj ET Q q 0 0 0 rg BT 296.07 578.15 Td (may ) Tj ET Q q 0 0 0 rg BT 317.00 578.15 Td (have ) Tj ET Q q 0 0 0 rg BT 340.45 578.15 Td (dif) Tj ET Q q 0 0 0 rg BT 349.80 578.15 Td (ficulty ) Tj ET Q q 0 0 0 rg BT 376.74 578.15 Td (attracting ) Tj ET Q q 0 0 0 rg BT 417.69 578.15 Td (suitable ) Tj ET Q q 0 0 0 rg BT 452.64 578.15 Td (participants ) Tj ET Q q 0 0 0 rg BT 502.60 578.15 Td (in ) Tj ET Q q 0 0 0 rg BT 513.54 578.15 Td (our ) Tj ET Q q 0 0 0 rg BT 530.48 578.15 Td (teaming ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 564.65 Td (agreements. ) Tj ET Q q 0 0 0 rg BT 124.02 564.65 Td (Similarly) Tj ET Q q 0 0 0 rg BT 157.36 564.65 Td (, ) Tj ET Q q 0 0 0 rg BT 161.86 564.65 Td (where ) Tj ET Q q 0 0 0 rg BT 188.37 564.65 Td (we ) Tj ET Q q 0 0 0 rg BT 201.87 564.65 Td (act ) Tj ET Q q 0 0 0 rg BT 215.87 564.65 Td (as ) Tj ET Q q 0 0 0 rg BT 227.37 564.65 Td (subcontractor) Tj ET Q q 0 0 0 rg BT 281.41 564.65 Td (, ) Tj ET Q q 0 0 0 rg BT 285.90 564.65 Td (if ) Tj ET Q q 0 0 0 rg BT 292.40 564.65 Td (our ) Tj ET Q q 0 0 0 rg BT 307.41 564.65 Td (relationships ) Tj ET Q q 0 0 0 rg BT 359.93 564.65 Td (are ) Tj ET Q q 0 0 0 rg BT 374.94 564.65 Td (impaired, ) Tj ET Q q 0 0 0 rg BT 413.95 564.65 Td (other ) Tj ET Q q 0 0 0 rg BT 436.46 564.65 Td (providers ) Tj ET Q q 0 0 0 rg BT 475.47 564.65 Td (might ) Tj ET Q q 0 0 0 rg BT 499.48 564.65 Td (reduce ) Tj ET Q q 0 0 0 rg BT 529.00 564.65 Td (the ) Tj ET Q q 0 0 0 rg BT 543.50 564.65 Td (work ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 551.15 Td (they ) Tj ET Q q 0 0 0 rg BT 91.36 551.15 Td (award ) Tj ET Q q 0 0 0 rg BT 118.21 551.15 Td (to ) Tj ET Q q 0 0 0 rg BT 128.07 551.15 Td (us, ) Tj ET Q q 0 0 0 rg BT 142.42 551.15 Td (award ) Tj ET Q q 0 0 0 rg BT 169.27 551.15 Td (that ) Tj ET Q q 0 0 0 rg BT 186.63 551.15 Td (work ) Tj ET Q q 0 0 0 rg BT 207.98 551.15 Td (to ) Tj ET Q q 0 0 0 rg BT 217.83 551.15 Td (our ) Tj ET Q q 0 0 0 rg BT 233.18 551.15 Td (competitors, ) Tj ET Q q 0 0 0 rg BT 284.54 551.15 Td (or ) Tj ET Q q 0 0 0 rg BT 294.89 551.15 Td (choose ) Tj ET Q q 0 0 0 rg BT 326.26 551.15 Td (to ) Tj ET Q q 0 0 0 rg BT 336.11 551.15 Td (of) Tj ET Q q 0 0 0 rg BT 343.45 551.15 Td (fer ) Tj ET Q q 0 0 0 rg BT 356.30 551.15 Td (the ) Tj ET Q q 0 0 0 rg BT 371.16 551.15 Td (services ) Tj ET Q q 0 0 0 rg BT 406.51 551.15 Td (directly ) Tj ET Q q 0 0 0 rg BT 437.36 551.15 Td (to ) Tj ET Q q 0 0 0 rg BT 447.21 551.15 Td (the ) Tj ET Q q 0 0 0 rg BT 462.07 551.15 Td (client ) Tj ET Q q 0 0 0 rg BT 485.43 551.15 Td (in ) Tj ET Q q 0 0 0 rg BT 494.78 551.15 Td (order ) Tj ET Q q 0 0 0 rg BT 518.13 551.15 Td (to ) Tj ET Q q 0 0 0 rg BT 527.98 551.15 Td (compete ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 537.65 Td (with ) Tj ET Q q 0 0 0 rg BT 90.51 537.65 Td (our ) Tj ET Q q 0 0 0 rg BT 106.01 537.65 Td (business. ) Tj ET Q q 0 0 0 rg BT 146.54 537.65 Td (In ) Tj ET Q q 0 0 0 rg BT 156.54 537.65 Td (either ) Tj ET Q q 0 0 0 rg BT 181.56 537.65 Td (case, ) Tj ET Q q 0 0 0 rg BT 205.57 537.65 Td (our ) Tj ET Q q 0 0 0 rg BT 221.08 537.65 Td (business, ) Tj ET Q q 0 0 0 rg BT 261.60 537.65 Td (prospects, ) Tj ET Q q 0 0 0 rg BT 305.62 537.65 Td (financial ) Tj ET Q q 0 0 0 rg BT 341.14 537.65 Td (condition ) Tj ET Q q 0 0 0 rg BT 379.67 537.65 Td (and ) Tj ET Q q 0 0 0 rg BT 397.18 537.65 Td (operating ) Tj ET Q q 0 0 0 rg BT 437.21 537.65 Td (results ) Tj ET Q q 0 0 0 rg BT 466.22 537.65 Td (could ) Tj ET Q q 0 0 0 rg BT 490.24 537.65 Td (be ) Tj ET Q q 0 0 0 rg BT 502.75 537.65 Td (harmed.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 516.566796875 m 278.57958984375 516.566796875 l s q 0 0 0 rg BT 73.50 517.85 Td (Our ) Tj ET Q q 0 0 0 rg BT 91.00 517.85 Td (partners) Tj ET Q q 0 0 0 rg BT 125.52 517.85 Td ( ) Tj ET Q q 0 0 0 rg BT 128.02 517.85 Td (ability ) Tj ET Q q 0 0 0 rg BT 153.53 517.85 Td (to ) Tj ET Q q 0 0 0 rg BT 163.54 517.85 Td (deliver ) Tj ET Q q 0 0 0 rg BT 192.55 517.85 Td (on ) Tj ET Q q 0 0 0 rg BT 205.06 517.85 Td (their ) Tj ET Q q 0 0 0 rg BT 225.07 517.85 Td (commitments) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 501.35 Td (Increasingly ) Tj ET Q q 0 0 0 rg BT 121.36 501.35 Td (large ) Tj ET Q q 0 0 0 rg BT 142.71 501.35 Td (and ) Tj ET Q q 0 0 0 rg BT 159.07 501.35 Td (complex ) Tj ET Q q 0 0 0 rg BT 193.92 501.35 Td (contracts ) Tj ET Q q 0 0 0 rg BT 231.78 501.35 Td (may ) Tj ET Q q 0 0 0 rg BT 250.12 501.35 Td (require ) Tj ET Q q 0 0 0 rg BT 279.47 501.35 Td (that ) Tj ET Q q 0 0 0 rg BT 295.82 501.35 Td (we ) Tj ET Q q 0 0 0 rg BT 308.67 501.35 Td (rely ) Tj ET Q q 0 0 0 rg BT 324.51 501.35 Td (on ) Tj ET Q q 0 0 0 rg BT 335.86 501.35 Td (third ) Tj ET Q q 0 0 0 rg BT 354.71 501.35 Td (party ) Tj ET Q q 0 0 0 rg BT 376.05 501.35 Td (subcontractors ) Tj ET Q q 0 0 0 rg BT 436.42 501.35 Td (including ) Tj ET Q q 0 0 0 rg BT 473.29 501.35 Td (software ) Tj ET Q q 0 0 0 rg BT 508.64 501.35 Td (and ) Tj ET Q q 0 0 0 rg BT 524.99 501.35 Td (hardware ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 487.85 Td (vendors ) Tj ET Q q 0 0 0 rg BT 106.32 487.85 Td (to ) Tj ET Q q 0 0 0 rg BT 116.13 487.85 Td (help ) Tj ET Q q 0 0 0 rg BT 135.45 487.85 Td (us ) Tj ET Q q 0 0 0 rg BT 147.26 487.85 Td (fulfill ) Tj ET Q q 0 0 0 rg BT 167.57 487.85 Td (our ) Tj ET Q q 0 0 0 rg BT 182.88 487.85 Td (commitments. ) Tj ET Q q 0 0 0 rg BT 241.19 487.85 Td (Under ) Tj ET Q q 0 0 0 rg BT 268.01 487.85 Td (such ) Tj ET Q q 0 0 0 rg BT 289.32 487.85 Td (circumstances, ) Tj ET Q q 0 0 0 rg BT 351.64 487.85 Td (our ) Tj ET Q q 0 0 0 rg BT 366.95 487.85 Td (success ) Tj ET Q q 0 0 0 rg BT 401.77 487.85 Td (depends ) Tj ET Q q 0 0 0 rg BT 438.60 487.85 Td (on ) Tj ET Q q 0 0 0 rg BT 450.92 487.85 Td (the ) Tj ET Q q 0 0 0 rg BT 465.73 487.85 Td (ability ) Tj ET Q q 0 0 0 rg BT 491.05 487.85 Td (of ) Tj ET Q q 0 0 0 rg BT 500.86 487.85 Td (the ) Tj ET Q q 0 0 0 rg BT 515.67 487.85 Td (third ) Tj ET Q q 0 0 0 rg BT 535.48 487.85 Td (parties ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 474.35 Td (to ) Tj ET Q q 0 0 0 rg BT 82.02 474.35 Td (perform ) Tj ET Q q 0 0 0 rg BT 115.54 474.35 Td (their ) Tj ET Q q 0 0 0 rg BT 135.56 474.35 Td (obligations ) Tj ET Q q 0 0 0 rg BT 181.10 474.35 Td (within ) Tj ET Q q 0 0 0 rg BT 206.63 474.35 Td (agreed ) Tj ET Q q 0 0 0 rg BT 237.16 474.35 Td (upon ) Tj ET Q q 0 0 0 rg BT 259.70 474.35 Td (budgets ) Tj ET Q q 0 0 0 rg BT 294.24 474.35 Td (and ) Tj ET Q q 0 0 0 rg BT 311.77 474.35 Td (timeframes. ) Tj ET Q q 0 0 0 rg BT 361.29 474.35 Td (If ) Tj ET Q q 0 0 0 rg BT 368.80 474.35 Td (our ) Tj ET Q q 0 0 0 rg BT 384.32 474.35 Td (partners ) Tj ET Q q 0 0 0 rg BT 419.85 474.35 Td (fail ) Tj ET Q q 0 0 0 rg BT 433.87 474.35 Td (to ) Tj ET Q q 0 0 0 rg BT 443.89 474.35 Td (deliver) Tj ET Q q 0 0 0 rg BT 469.90 474.35 Td (, ) Tj ET Q q 0 0 0 rg BT 474.91 474.35 Td (our ) Tj ET Q q 0 0 0 rg BT 490.44 474.35 Td (ability ) Tj ET Q q 0 0 0 rg BT 515.96 474.35 Td (to ) Tj ET Q q 0 0 0 rg BT 525.98 474.35 Td (complete ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 460.85 Td (the ) Tj ET Q q 0 0 0 rg BT 87.01 460.85 Td (contract ) Tj ET Q q 0 0 0 rg BT 121.53 460.85 Td (may ) Tj ET Q q 0 0 0 rg BT 141.03 460.85 Td (be ) Tj ET Q q 0 0 0 rg BT 153.54 460.85 Td (adversely ) Tj ET Q q 0 0 0 rg BT 194.56 460.85 Td (af) Tj ET Q q 0 0 0 rg BT 201.90 460.85 Td (fected, ) Tj ET Q q 0 0 0 rg BT 231.42 460.85 Td (which ) Tj ET Q q 0 0 0 rg BT 256.93 460.85 Td (may ) Tj ET Q q 0 0 0 rg BT 276.43 460.85 Td (have ) Tj ET Q q 0 0 0 rg BT 298.45 460.85 Td (an ) Tj ET Q q 0 0 0 rg BT 310.96 460.85 Td (unfavourable ) Tj ET Q q 0 0 0 rg BT 365.50 460.85 Td (impact ) Tj ET Q q 0 0 0 rg BT 394.51 460.85 Td (on ) Tj ET Q q 0 0 0 rg BT 407.02 460.85 Td (our ) Tj ET Q q 0 0 0 rg BT 422.53 460.85 Td (profitability) Tj ET Q q 0 0 0 rg BT 464.88 460.85 Td (.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 439.766796875 m 137.02734375 439.766796875 l s q 0 0 0 rg BT 73.50 441.05 Td (Guarantees ) Tj ET Q q 0 0 0 rg BT 123.03 441.05 Td (risk) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 424.55 Td (In ) Tj ET Q q 0 0 0 rg BT 84.02 424.55 Td (the ) Tj ET Q q 0 0 0 rg BT 101.05 424.55 Td (normal ) Tj ET Q q 0 0 0 rg BT 133.07 424.55 Td (course ) Tj ET Q q 0 0 0 rg BT 164.60 424.55 Td (of ) Tj ET Q q 0 0 0 rg BT 176.62 424.55 Td (business, ) Tj ET Q q 0 0 0 rg BT 219.16 424.55 Td (we ) Tj ET Q q 0 0 0 rg BT 235.17 424.55 Td (enter ) Tj ET Q q 0 0 0 rg BT 260.20 424.55 Td (into ) Tj ET Q q 0 0 0 rg BT 279.23 424.55 Td (agreements ) Tj ET Q q 0 0 0 rg BT 331.27 424.55 Td (that ) Tj ET Q q 0 0 0 rg BT 350.80 424.55 Td (may ) Tj ET Q q 0 0 0 rg BT 372.31 424.55 Td (provide ) Tj ET Q q 0 0 0 rg BT 406.35 424.55 Td (for ) Tj ET Q q 0 0 0 rg BT 421.36 424.55 Td (indemnification ) Tj ET Q q 0 0 0 rg BT 485.91 424.55 Td (and ) Tj ET Q q 0 0 0 rg BT 505.44 424.55 Td (guarantees ) Tj ET Q q 0 0 0 rg BT 554.99 424.55 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 411.05 Td (counterparties ) Tj ET Q q 0 0 0 rg BT 132.44 411.05 Td (in ) Tj ET Q q 0 0 0 rg BT 142.84 411.05 Td (transactions ) Tj ET Q q 0 0 0 rg BT 194.77 411.05 Td (such ) Tj ET Q q 0 0 0 rg BT 217.19 411.05 Td (as ) Tj ET Q q 0 0 0 rg BT 230.10 411.05 Td (consulting ) Tj ET Q q 0 0 0 rg BT 274.03 411.05 Td (and ) Tj ET Q q 0 0 0 rg BT 292.45 411.05 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 342.38 411.05 Td (services, ) Tj ET Q q 0 0 0 rg BT 381.29 411.05 Td (business ) Tj ET Q q 0 0 0 rg BT 420.22 411.05 Td (divestitures, ) Tj ET Q q 0 0 0 rg BT 471.64 411.05 Td (lease ) Tj ET Q q 0 0 0 rg BT 496.56 411.05 Td (agreements ) Tj ET Q q 0 0 0 rg BT 547.49 411.05 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 397.55 Td (financial ) Tj ET Q q 0 0 0 rg BT 107.86 397.55 Td (obligations. ) Tj ET Q q 0 0 0 rg BT 156.05 397.55 Td (These ) Tj ET Q q 0 0 0 rg BT 183.90 397.55 Td (indemnification ) Tj ET Q q 0 0 0 rg BT 246.77 397.55 Td (undertakings ) Tj ET Q q 0 0 0 rg BT 301.14 397.55 Td (and ) Tj ET Q q 0 0 0 rg BT 319.00 397.55 Td (guarantees ) Tj ET Q q 0 0 0 rg BT 366.87 397.55 Td (may ) Tj ET Q q 0 0 0 rg BT 386.71 397.55 Td (require ) Tj ET Q q 0 0 0 rg BT 417.57 397.55 Td (us ) Tj ET Q q 0 0 0 rg BT 429.91 397.55 Td (to ) Tj ET Q q 0 0 0 rg BT 440.26 397.55 Td (compensate ) Tj ET Q q 0 0 0 rg BT 492.13 397.55 Td (counterparties ) Tj ET Q q 0 0 0 rg BT 552.00 397.55 Td (for ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 384.05 Td (costs ) Tj ET Q q 0 0 0 rg BT 96.18 384.05 Td (and ) Tj ET Q q 0 0 0 rg BT 114.37 384.05 Td (losses ) Tj ET Q q 0 0 0 rg BT 143.05 384.05 Td (incurred ) Tj ET Q q 0 0 0 rg BT 178.73 384.05 Td (as ) Tj ET Q q 0 0 0 rg BT 191.41 384.05 Td (a ) Tj ET Q q 0 0 0 rg BT 199.59 384.05 Td (result ) Tj ET Q q 0 0 0 rg BT 224.77 384.05 Td (of ) Tj ET Q q 0 0 0 rg BT 235.45 384.05 Td (various ) Tj ET Q q 0 0 0 rg BT 267.63 384.05 Td (events, ) Tj ET Q q 0 0 0 rg BT 299.82 384.05 Td (including ) Tj ET Q q 0 0 0 rg BT 338.52 384.05 Td (breaches ) Tj ET Q q 0 0 0 rg BT 378.71 384.05 Td (of ) Tj ET Q q 0 0 0 rg BT 389.39 384.05 Td (representations ) Tj ET Q q 0 0 0 rg BT 454.60 384.05 Td (and ) Tj ET Q q 0 0 0 rg BT 472.79 384.05 Td (warranties, ) Tj ET Q q 0 0 0 rg BT 519.98 384.05 Td (intellectual ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 370.55 Td (property ) Tj ET Q q 0 0 0 rg BT 107.61 370.55 Td (right ) Tj ET Q q 0 0 0 rg BT 127.72 370.55 Td (infringement, ) Tj ET Q q 0 0 0 rg BT 182.35 370.55 Td (claims ) Tj ET Q q 0 0 0 rg BT 210.44 370.55 Td (that ) Tj ET Q q 0 0 0 rg BT 228.05 370.55 Td (may ) Tj ET Q q 0 0 0 rg BT 247.66 370.55 Td (arise ) Tj ET Q q 0 0 0 rg BT 269.76 370.55 Td (while ) Tj ET Q q 0 0 0 rg BT 292.87 370.55 Td (providing ) Tj ET Q q 0 0 0 rg BT 331.99 370.55 Td (services ) Tj ET Q q 0 0 0 rg BT 367.59 370.55 Td (or ) Tj ET Q q 0 0 0 rg BT 378.20 370.55 Td (as ) Tj ET Q q 0 0 0 rg BT 390.30 370.55 Td (a ) Tj ET Q q 0 0 0 rg BT 397.90 370.55 Td (result ) Tj ET Q q 0 0 0 rg BT 422.51 370.55 Td (of ) Tj ET Q q 0 0 0 rg BT 432.61 370.55 Td (litigation ) Tj ET Q q 0 0 0 rg BT 468.23 370.55 Td (that ) Tj ET Q q 0 0 0 rg BT 485.84 370.55 Td (may ) Tj ET Q q 0 0 0 rg BT 505.44 370.55 Td (be ) Tj ET Q q 0 0 0 rg BT 518.05 370.55 Td (suf) Tj ET Q q 0 0 0 rg BT 529.89 370.55 Td (fered ) Tj ET Q q 0 0 0 rg BT 553.01 370.55 Td (by ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 357.05 Td (counterparties.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 335.966796875 m 265.58935546875 335.966796875 l s q 0 0 0 rg BT 73.50 337.25 Td (Risk ) Tj ET Q q 0 0 0 rg BT 93.50 337.25 Td (related ) Tj ET Q q 0 0 0 rg BT 123.52 337.25 Td (to ) Tj ET Q q 0 0 0 rg BT 133.52 337.25 Td (human ) Tj ET Q q 0 0 0 rg BT 163.54 337.25 Td (resources ) Tj ET Q q 0 0 0 rg BT 205.56 337.25 Td (utilization ) Tj ET Q q 0 0 0 rg BT 245.58 337.25 Td (rates) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 320.75 Td (In ) Tj ET Q q 0 0 0 rg BT 81.97 320.75 Td (order ) Tj ET Q q 0 0 0 rg BT 105.44 320.75 Td (to ) Tj ET Q q 0 0 0 rg BT 115.40 320.75 Td (maintain ) Tj ET Q q 0 0 0 rg BT 151.88 320.75 Td (our ) Tj ET Q q 0 0 0 rg BT 167.35 320.75 Td (net ) Tj ET Q q 0 0 0 rg BT 182.32 320.75 Td (earnings, ) Tj ET Q q 0 0 0 rg BT 221.80 320.75 Td (it ) Tj ET Q q 0 0 0 rg BT 228.76 320.75 Td (is ) Tj ET Q q 0 0 0 rg BT 237.72 320.75 Td (important ) Tj ET Q q 0 0 0 rg BT 277.70 320.75 Td (that ) Tj ET Q q 0 0 0 rg BT 295.17 320.75 Td (we ) Tj ET Q q 0 0 0 rg BT 309.13 320.75 Td (maintain ) Tj ET Q q 0 0 0 rg BT 345.61 320.75 Td (the ) Tj ET Q q 0 0 0 rg BT 360.58 320.75 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 408.58 320.75 Td (availability ) Tj ET Q q 0 0 0 rg BT 452.56 320.75 Td (of ) Tj ET Q q 0 0 0 rg BT 462.52 320.75 Td (professional ) Tj ET Q q 0 0 0 rg BT 513.51 320.75 Td (resources ) Tj ET Q q 0 0 0 rg BT 555.49 320.75 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 307.25 Td (each ) Tj ET Q q 0 0 0 rg BT 94.53 307.25 Td (of ) Tj ET Q q 0 0 0 rg BT 105.04 307.25 Td (our ) Tj ET Q q 0 0 0 rg BT 121.06 307.25 Td (geographies ) Tj ET Q q 0 0 0 rg BT 173.61 307.25 Td (by ) Tj ET Q q 0 0 0 rg BT 186.13 307.25 Td (having ) Tj ET Q q 0 0 0 rg BT 215.66 307.25 Td (a ) Tj ET Q q 0 0 0 rg BT 223.68 307.25 Td (high ) Tj ET Q q 0 0 0 rg BT 243.70 307.25 Td (utilization ) Tj ET Q q 0 0 0 rg BT 284.23 307.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 302.75 307.25 Td (while ) Tj ET Q q 0 0 0 rg BT 326.27 307.25 Td (still ) Tj ET Q q 0 0 0 rg BT 342.28 307.25 Td (being ) Tj ET Q q 0 0 0 rg BT 367.31 307.25 Td (able ) Tj ET Q q 0 0 0 rg BT 387.34 307.25 Td (to ) Tj ET Q q 0 0 0 rg BT 397.86 307.25 Td (assign ) Tj ET Q q 0 0 0 rg BT 426.88 307.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 468.43 307.25 Td (resources ) Tj ET Q q 0 0 0 rg BT 510.95 307.25 Td (to ) Tj ET Q q 0 0 0 rg BT 521.47 307.25 Td (new ) Tj ET Q q 0 0 0 rg BT 540.99 307.25 Td (work. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 293.75 Td (Maintaining ) Tj ET Q q 0 0 0 rg BT 120.46 293.75 Td (an ) Tj ET Q q 0 0 0 rg BT 132.91 293.75 Td (ef) Tj ET Q q 0 0 0 rg BT 140.25 293.75 Td (ficient ) Tj ET Q q 0 0 0 rg BT 166.20 293.75 Td (utilization ) Tj ET Q q 0 0 0 rg BT 206.16 293.75 Td (rate ) Tj ET Q q 0 0 0 rg BT 224.10 293.75 Td (requires ) Tj ET Q q 0 0 0 rg BT 259.05 293.75 Td (us ) Tj ET Q q 0 0 0 rg BT 270.99 293.75 Td (to ) Tj ET Q q 0 0 0 rg BT 280.93 293.75 Td (forecast ) Tj ET Q q 0 0 0 rg BT 315.38 293.75 Td (our ) Tj ET Q q 0 0 0 rg BT 330.83 293.75 Td (need ) Tj ET Q q 0 0 0 rg BT 353.28 293.75 Td (for ) Tj ET Q q 0 0 0 rg BT 366.22 293.75 Td (professional ) Tj ET Q q 0 0 0 rg BT 417.19 293.75 Td (resources ) Tj ET Q q 0 0 0 rg BT 459.14 293.75 Td (accurately ) Tj ET Q q 0 0 0 rg BT 502.59 293.75 Td (and ) Tj ET Q q 0 0 0 rg BT 520.04 293.75 Td (to ) Tj ET Q q 0 0 0 rg BT 529.98 293.75 Td (manage ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 280.25 Td (recruitment ) Tj ET Q q 0 0 0 rg BT 119.87 280.25 Td (activities, ) Tj ET Q q 0 0 0 rg BT 159.74 280.25 Td (professional ) Tj ET Q q 0 0 0 rg BT 211.12 280.25 Td (training ) Tj ET Q q 0 0 0 rg BT 243.50 280.25 Td (programs, ) Tj ET Q q 0 0 0 rg BT 286.87 280.25 Td (attrition ) Tj ET Q q 0 0 0 rg BT 319.24 280.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 342.10 280.25 Td (and ) Tj ET Q q 0 0 0 rg BT 359.98 280.25 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 412.85 280.25 Td (programs ) Tj ET Q q 0 0 0 rg BT 453.72 280.25 Td (appropriately) Tj ET Q q 0 0 0 rg BT 505.09 280.25 Td (. ) Tj ET Q q 0 0 0 rg BT 510.26 280.25 Td (T) Tj ET Q q 0 0 0 rg BT 514.76 280.25 Td (o ) Tj ET Q q 0 0 0 rg BT 522.62 280.25 Td (the ) Tj ET Q q 0 0 0 rg BT 537.99 280.25 Td (extent ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 266.75 Td (that ) Tj ET Q q 0 0 0 rg BT 89.77 266.75 Td (we ) Tj ET Q q 0 0 0 rg BT 104.04 266.75 Td (fail ) Tj ET Q q 0 0 0 rg BT 118.30 266.75 Td (to ) Tj ET Q q 0 0 0 rg BT 128.57 266.75 Td (do ) Tj ET Q q 0 0 0 rg BT 141.34 266.75 Td (so, ) Tj ET Q q 0 0 0 rg BT 156.11 266.75 Td (or ) Tj ET Q q 0 0 0 rg BT 166.87 266.75 Td (to ) Tj ET Q q 0 0 0 rg BT 177.14 266.75 Td (the ) Tj ET Q q 0 0 0 rg BT 192.41 266.75 Td (extent ) Tj ET Q q 0 0 0 rg BT 219.69 266.75 Td (that ) Tj ET Q q 0 0 0 rg BT 237.46 266.75 Td (laws ) Tj ET Q q 0 0 0 rg BT 258.23 266.75 Td (and ) Tj ET Q q 0 0 0 rg BT 276.00 266.75 Td (regulations, ) Tj ET Q q 0 0 0 rg BT 325.29 266.75 Td (particularly ) Tj ET Q q 0 0 0 rg BT 371.57 266.75 Td (those ) Tj ET Q q 0 0 0 rg BT 396.35 266.75 Td (in ) Tj ET Q q 0 0 0 rg BT 406.11 266.75 Td (Europe, ) Tj ET Q q 0 0 0 rg BT 440.39 266.75 Td (restrict ) Tj ET Q q 0 0 0 rg BT 470.15 266.75 Td (our ) Tj ET Q q 0 0 0 rg BT 485.92 266.75 Td (ability ) Tj ET Q q 0 0 0 rg BT 511.69 266.75 Td (to ) Tj ET Q q 0 0 0 rg BT 521.96 266.75 Td (do ) Tj ET Q q 0 0 0 rg BT 534.73 266.75 Td (so, ) Tj ET Q q 0 0 0 rg BT 549.50 266.75 Td (our ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 253.25 Td (utilization ) Tj ET Q q 0 0 0 rg BT 111.95 253.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 134.38 253.25 Td (may ) Tj ET Q q 0 0 0 rg BT 153.81 253.25 Td (be ) Tj ET Q q 0 0 0 rg BT 166.25 253.25 Td (reduced; ) Tj ET Q q 0 0 0 rg BT 203.70 253.25 Td (thereby ) Tj ET Q q 0 0 0 rg BT 236.14 253.25 Td (having ) Tj ET Q q 0 0 0 rg BT 265.09 253.25 Td (an ) Tj ET Q q 0 0 0 rg BT 277.52 253.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 306.46 253.25 Td (on ) Tj ET Q q 0 0 0 rg BT 318.89 253.25 Td (our ) Tj ET Q q 0 0 0 rg BT 334.33 253.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 369.28 253.25 Td (and ) Tj ET Q q 0 0 0 rg BT 386.72 253.25 Td (profitability) Tj ET Q q 0 0 0 rg BT 429.07 253.25 Td (. ) Tj ET Q q 0 0 0 rg BT 434.00 253.25 Td (Conversely) Tj ET Q q 0 0 0 rg BT 478.34 253.25 Td (, ) Tj ET Q q 0 0 0 rg BT 483.27 253.25 Td (we ) Tj ET Q q 0 0 0 rg BT 497.20 253.25 Td (may ) Tj ET Q q 0 0 0 rg BT 516.63 253.25 Td (find ) Tj ET Q q 0 0 0 rg BT 533.57 253.25 Td (that ) Tj ET Q q 0 0 0 rg BT 551.00 253.25 Td (we ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 239.75 Td (do ) Tj ET Q q 0 0 0 rg BT 84.61 239.75 Td (not ) Tj ET Q q 0 0 0 rg BT 99.72 239.75 Td (have ) Tj ET Q q 0 0 0 rg BT 121.84 239.75 Td (suf) Tj ET Q q 0 0 0 rg BT 133.68 239.75 Td (ficient ) Tj ET Q q 0 0 0 rg BT 159.79 239.75 Td (resources ) Tj ET Q q 0 0 0 rg BT 201.91 239.75 Td (to ) Tj ET Q q 0 0 0 rg BT 212.01 239.75 Td (deploy ) Tj ET Q q 0 0 0 rg BT 241.13 239.75 Td (against ) Tj ET Q q 0 0 0 rg BT 272.75 239.75 Td (new ) Tj ET Q q 0 0 0 rg BT 291.86 239.75 Td (business ) Tj ET Q q 0 0 0 rg BT 329.98 239.75 Td (opportunities ) Tj ET Q q 0 0 0 rg BT 384.12 239.75 Td (in ) Tj ET Q q 0 0 0 rg BT 393.72 239.75 Td (which ) Tj ET Q q 0 0 0 rg BT 419.33 239.75 Td (case ) Tj ET Q q 0 0 0 rg BT 440.94 239.75 Td (our ) Tj ET Q q 0 0 0 rg BT 456.55 239.75 Td (ability ) Tj ET Q q 0 0 0 rg BT 482.16 239.75 Td (to ) Tj ET Q q 0 0 0 rg BT 492.26 239.75 Td (grow ) Tj ET Q q 0 0 0 rg BT 514.37 239.75 Td (our ) Tj ET Q q 0 0 0 rg BT 529.98 239.75 Td (revenue ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 226.25 Td (would ) Tj ET Q q 0 0 0 rg BT 98.02 226.25 Td (suf) Tj ET Q q 0 0 0 rg BT 109.86 226.25 Td (fer) Tj ET Q q 0 0 0 rg BT 119.87 226.25 Td (.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 209.45 Td () Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 74.50048828125 208.16679687500005 m 170.54296875 208.16679687500005 l s q 0 0 0 rg BT 74.50 209.45 Td (Client ) Tj ET Q q 0 0 0 rg BT 100.01 209.45 Td (concentration ) Tj ET Q q 0 0 0 rg BT 156.55 209.45 Td (risk) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 195.95 Td (W) Tj ET Q q 0 0 0 rg BT 80.33 195.95 Td (e ) Tj ET Q q 0 0 0 rg BT 87.71 195.95 Td (derive ) Tj ET Q q 0 0 0 rg BT 114.59 195.95 Td (a ) Tj ET Q q 0 0 0 rg BT 121.97 195.95 Td (significant ) Tj ET Q q 0 0 0 rg BT 164.36 195.95 Td (portion ) Tj ET Q q 0 0 0 rg BT 194.25 195.95 Td (of ) Tj ET Q q 0 0 0 rg BT 204.13 195.95 Td (our ) Tj ET Q q 0 0 0 rg BT 219.51 195.95 Td (revenue ) Tj ET Q q 0 0 0 rg BT 254.40 195.95 Td (from ) Tj ET Q q 0 0 0 rg BT 274.77 195.95 Td (the ) Tj ET Q q 0 0 0 rg BT 289.65 195.95 Td (services ) Tj ET Q q 0 0 0 rg BT 325.03 195.95 Td (we ) Tj ET Q q 0 0 0 rg BT 338.91 195.95 Td (provide ) Tj ET Q q 0 0 0 rg BT 370.80 195.95 Td (to ) Tj ET Q q 0 0 0 rg BT 380.68 195.95 Td (the ) Tj ET Q q 0 0 0 rg BT 395.56 195.95 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 415.43 195.95 Td (federal ) Tj ET Q q 0 0 0 rg BT 445.32 195.95 Td (government ) Tj ET Q q 0 0 0 rg BT 495.22 195.95 Td (and ) Tj ET Q q 0 0 0 rg BT 512.61 195.95 Td (its ) Tj ET Q q 0 0 0 rg BT 523.98 195.95 Td (agencies, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 182.45 Td (and ) Tj ET Q q 0 0 0 rg BT 90.03 182.45 Td (we ) Tj ET Q q 0 0 0 rg BT 104.55 182.45 Td (expect ) Tj ET Q q 0 0 0 rg BT 134.07 182.45 Td (that ) Tj ET Q q 0 0 0 rg BT 152.10 182.45 Td (this ) Tj ET Q q 0 0 0 rg BT 169.12 182.45 Td (will ) Tj ET Q q 0 0 0 rg BT 184.63 182.45 Td (continue ) Tj ET Q q 0 0 0 rg BT 221.67 182.45 Td (for ) Tj ET Q q 0 0 0 rg BT 235.18 182.45 Td (the ) Tj ET Q q 0 0 0 rg BT 250.70 182.45 Td (foreseeable ) Tj ET Q q 0 0 0 rg BT 300.75 182.45 Td (future. ) Tj ET Q q 0 0 0 rg BT 329.28 182.45 Td (In ) Tj ET Q q 0 0 0 rg BT 339.80 182.45 Td (the ) Tj ET Q q 0 0 0 rg BT 355.32 182.45 Td (event ) Tj ET Q q 0 0 0 rg BT 380.35 182.45 Td (that ) Tj ET Q q 0 0 0 rg BT 398.37 182.45 Td (a ) Tj ET Q q 0 0 0 rg BT 406.39 182.45 Td (major ) Tj ET Q q 0 0 0 rg BT 431.91 182.45 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 452.42 182.45 Td (federal ) Tj ET Q q 0 0 0 rg BT 482.95 182.45 Td (government ) Tj ET Q q 0 0 0 rg BT 533.49 182.45 Td (agency ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 168.95 Td (were ) Tj ET Q q 0 0 0 rg BT 93.67 168.95 Td (to ) Tj ET Q q 0 0 0 rg BT 103.34 168.95 Td (limit, ) Tj ET Q q 0 0 0 rg BT 124.00 168.95 Td (reduce, ) Tj ET Q q 0 0 0 rg BT 156.19 168.95 Td (or ) Tj ET Q q 0 0 0 rg BT 166.35 168.95 Td (eliminate ) Tj ET Q q 0 0 0 rg BT 204.54 168.95 Td (the ) Tj ET Q q 0 0 0 rg BT 219.21 168.95 Td (business ) Tj ET Q q 0 0 0 rg BT 256.90 168.95 Td (it ) Tj ET Q q 0 0 0 rg BT 263.56 168.95 Td (awards ) Tj ET Q q 0 0 0 rg BT 294.74 168.95 Td (to ) Tj ET Q q 0 0 0 rg BT 304.41 168.95 Td (us, ) Tj ET Q q 0 0 0 rg BT 318.58 168.95 Td (we ) Tj ET Q q 0 0 0 rg BT 332.25 168.95 Td (might ) Tj ET Q q 0 0 0 rg BT 356.42 168.95 Td (be ) Tj ET Q q 0 0 0 rg BT 368.60 168.95 Td (unable ) Tj ET Q q 0 0 0 rg BT 397.79 168.95 Td (to ) Tj ET Q q 0 0 0 rg BT 407.46 168.95 Td (recover ) Tj ET Q q 0 0 0 rg BT 439.63 168.95 Td (the ) Tj ET Q q 0 0 0 rg BT 454.31 168.95 Td (lost ) Tj ET Q q 0 0 0 rg BT 470.48 168.95 Td (revenue ) Tj ET Q q 0 0 0 rg BT 505.17 168.95 Td (with ) Tj ET Q q 0 0 0 rg BT 523.34 168.95 Td (work ) Tj ET Q q 0 0 0 rg BT 544.50 168.95 Td (from ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 155.45 Td (other ) Tj ET Q q 0 0 0 rg BT 94.67 155.45 Td (agencies ) Tj ET Q q 0 0 0 rg BT 132.86 155.45 Td (or ) Tj ET Q q 0 0 0 rg BT 143.02 155.45 Td (other ) Tj ET Q q 0 0 0 rg BT 165.69 155.45 Td (clients, ) Tj ET Q q 0 0 0 rg BT 195.87 155.45 Td (and ) Tj ET Q q 0 0 0 rg BT 213.04 155.45 Td (our ) Tj ET Q q 0 0 0 rg BT 228.21 155.45 Td (business, ) Tj ET Q q 0 0 0 rg BT 268.39 155.45 Td (prospects, ) Tj ET Q q 0 0 0 rg BT 312.07 155.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 347.25 155.45 Td (condition ) Tj ET Q q 0 0 0 rg BT 385.44 155.45 Td (and ) Tj ET Q q 0 0 0 rg BT 402.61 155.45 Td (operating ) Tj ET Q q 0 0 0 rg BT 442.30 155.45 Td (results ) Tj ET Q q 0 0 0 rg BT 470.97 155.45 Td (could ) Tj ET Q q 0 0 0 rg BT 494.64 155.45 Td (be ) Tj ET Q q 0 0 0 rg BT 506.81 155.45 Td (materially ) Tj ET Q q 0 0 0 rg BT 547.48 155.45 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 141.95 Td (adversely ) Tj ET Q q 0 0 0 rg BT 112.88 141.95 Td (af) Tj ET Q q 0 0 0 rg BT 120.22 141.95 Td (fected. ) Tj ET Q q 0 0 0 rg BT 149.13 141.95 Td (Although ) Tj ET Q q 0 0 0 rg BT 187.02 141.95 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 209.89 141.95 Td (considers ) Tj ET Q q 0 0 0 rg BT 250.77 141.95 Td (a ) Tj ET Q q 0 0 0 rg BT 258.13 141.95 Td (national ) Tj ET Q q 0 0 0 rg BT 292.02 141.95 Td (government ) Tj ET Q q 0 0 0 rg BT 341.91 141.95 Td (and ) Tj ET Q q 0 0 0 rg BT 359.29 141.95 Td (its ) Tj ET Q q 0 0 0 rg BT 370.65 141.95 Td (agencies ) Tj ET Q q 0 0 0 rg BT 409.03 141.95 Td (as ) Tj ET Q q 0 0 0 rg BT 420.90 141.95 Td (a ) Tj ET Q q 0 0 0 rg BT 428.27 141.95 Td (single ) Tj ET Q q 0 0 0 rg BT 454.14 141.95 Td (client, ) Tj ET Q q 0 0 0 rg BT 480.02 141.95 Td (our ) Tj ET Q q 0 0 0 rg BT 495.39 141.95 Td (client ) Tj ET Q q 0 0 0 rg BT 518.76 141.95 Td (base ) Tj ET Q q 0 0 0 rg BT 540.63 141.95 Td (in ) Tj ET Q q 0 0 0 rg BT 550.00 141.95 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 128.45 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 92.00 128.45 Td (government ) Tj ET Q q 0 0 0 rg BT 142.03 128.45 Td (economic ) Tj ET Q q 0 0 0 rg BT 183.05 128.45 Td (sector ) Tj ET Q q 0 0 0 rg BT 210.06 128.45 Td (is ) Tj ET Q q 0 0 0 rg BT 219.06 128.45 Td (in ) Tj ET Q q 0 0 0 rg BT 228.56 128.45 Td (fact ) Tj ET Q q 0 0 0 rg BT 245.57 128.45 Td (diversified ) Tj ET Q q 0 0 0 rg BT 288.59 128.45 Td (with ) Tj ET Q q 0 0 0 rg BT 307.09 128.45 Td (contracts ) Tj ET Q q 0 0 0 rg BT 346.11 128.45 Td (from ) Tj ET Q q 0 0 0 rg BT 366.61 128.45 Td (many ) Tj ET Q q 0 0 0 rg BT 391.12 128.45 Td (dif) Tj ET Q q 0 0 0 rg BT 400.46 128.45 Td (ferent ) Tj ET Q q 0 0 0 rg BT 425.98 128.45 Td (departments ) Tj ET Q q 0 0 0 rg BT 478.50 128.45 Td (and ) Tj ET Q q 0 0 0 rg BT 496.02 128.45 Td (agencies.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 107.36679687499998 m 177.54052734375 107.36679687499998 l s q 0 0 0 rg BT 73.50 108.65 Td (Government ) Tj ET Q q 0 0 0 rg BT 125.52 108.65 Td (business ) Tj ET Q q 0 0 0 rg BT 163.54 108.65 Td (risk) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 92.15 Td (Changes ) Tj ET Q q 0 0 0 rg BT 109.60 92.15 Td (in ) Tj ET Q q 0 0 0 rg BT 118.18 92.15 Td (government ) Tj ET Q q 0 0 0 rg BT 167.29 92.15 Td (spending ) Tj ET Q q 0 0 0 rg BT 205.39 92.15 Td (policies ) Tj ET Q q 0 0 0 rg BT 236.99 92.15 Td (or ) Tj ET Q q 0 0 0 rg BT 246.56 92.15 Td (budget ) Tj ET Q q 0 0 0 rg BT 275.67 92.15 Td (priorities ) Tj ET Q q 0 0 0 rg BT 311.25 92.15 Td (could ) Tj ET Q q 0 0 0 rg BT 334.34 92.15 Td (directly ) Tj ET Q q 0 0 0 rg BT 364.43 92.15 Td (af) Tj ET Q q 0 0 0 rg BT 371.77 92.15 Td (fect ) Tj ET Q q 0 0 0 rg BT 387.85 92.15 Td (our ) Tj ET Q q 0 0 0 rg BT 402.44 92.15 Td (financial ) Tj ET Q q 0 0 0 rg BT 437.03 92.15 Td (performance. ) Tj ET Q q 0 0 0 rg BT 491.32 92.15 Td (Among ) Tj ET Q q 0 0 0 rg BT 521.41 92.15 Td (the ) Tj ET Q q 0 0 0 rg BT 535.50 92.15 Td (factors ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 78.65 Td (that ) Tj ET Q q 0 0 0 rg BT 89.61 78.65 Td (could ) Tj ET Q q 0 0 0 rg BT 113.73 78.65 Td (harm ) Tj ET Q q 0 0 0 rg BT 136.84 78.65 Td (our ) Tj ET Q q 0 0 0 rg BT 152.45 78.65 Td (government ) Tj ET Q q 0 0 0 rg BT 202.58 78.65 Td (contracting ) Tj ET Q q 0 0 0 rg BT 249.21 78.65 Td (business ) Tj ET Q q 0 0 0 rg BT 287.33 78.65 Td (are ) Tj ET Q q 0 0 0 rg BT 302.94 78.65 Td (the ) Tj ET Q q 0 0 0 rg BT 318.06 78.65 Td (curtailment ) Tj ET Q q 0 0 0 rg BT 364.68 78.65 Td (of ) Tj ET Q q 0 0 0 rg BT 374.79 78.65 Td (governments) Tj ET Q q 0 0 0 rg BT 428.48 78.65 Td ( ) Tj ET Q q 0 0 0 rg BT 431.08 78.65 Td (use ) Tj ET Q q 0 0 0 rg BT 448.20 78.65 Td (of ) Tj ET Q q 0 0 0 rg BT 458.30 78.65 Td (consulting ) Tj ET Q q 0 0 0 rg BT 501.43 78.65 Td (and ) Tj ET Q q 0 0 0 rg BT 519.05 78.65 Td (IT) Tj ET Q q 0 0 0 rg BT 526.89 78.65 Td ( ) Tj ET Q q 0 0 0 rg BT 529.49 78.65 Td (services ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 65.15 Td (firms; ) Tj ET Q q 0 0 0 rg BT 96.76 65.15 Td (a ) Tj ET Q q 0 0 0 rg BT 104.53 65.15 Td (significant ) Tj ET Q q 0 0 0 rg BT 147.31 65.15 Td (decline ) Tj ET Q q 0 0 0 rg BT 178.60 65.15 Td (in ) Tj ET Q q 0 0 0 rg BT 188.37 65.15 Td (spending ) Tj ET Q q 0 0 0 rg BT 227.66 65.15 Td (by ) Tj ET Q q 0 0 0 rg BT 239.93 65.15 Td (governments ) Tj ET Q q 0 0 0 rg BT 294.72 65.15 Td (in ) Tj ET Q q 0 0 0 rg BT 304.49 65.15 Td (general, ) Tj ET Q q 0 0 0 rg BT 339.78 65.15 Td (or ) Tj ET Q q 0 0 0 rg BT 350.55 65.15 Td (by ) Tj ET Q q 0 0 0 rg BT 362.82 65.15 Td (specific ) Tj ET Q q 0 0 0 rg BT 395.59 65.15 Td (departments ) Tj ET Q q 0 0 0 rg BT 448.38 65.15 Td (or ) Tj ET Q q 0 0 0 rg BT 459.15 65.15 Td (agencies ) Tj ET Q q 0 0 0 rg BT 497.94 65.15 Td (in ) Tj ET Q q 0 0 0 rg BT 507.71 65.15 Td (particular; ) Tj ET Q q 0 0 0 rg BT 549.99 65.15 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 51.65 Td (adoption ) Tj ET Q q 0 0 0 rg BT 109.09 51.65 Td (of ) Tj ET Q q 0 0 0 rg BT 119.15 51.65 Td (new ) Tj ET Q q 0 0 0 rg BT 138.22 51.65 Td (legislation ) Tj ET Q q 0 0 0 rg BT 180.80 51.65 Td (and/or ) Tj ET Q q 0 0 0 rg BT 208.87 51.65 Td (actions ) Tj ET Q q 0 0 0 rg BT 239.94 51.65 Td (af) Tj ET Q q 0 0 0 rg BT 247.29 51.65 Td (fecting ) Tj ET Q q 0 0 0 rg BT 276.36 51.65 Td (companies ) Tj ET Q q 0 0 0 rg BT 322.44 51.65 Td (that ) Tj ET Q q 0 0 0 rg BT 340.00 51.65 Td (provide ) Tj ET Q q 0 0 0 rg BT 372.08 51.65 Td (services ) Tj ET Q q 0 0 0 rg BT 407.64 51.65 Td (to ) Tj ET Q q 0 0 0 rg BT 417.70 51.65 Td (governments; ) Tj ET Q q 0 0 0 rg BT 474.79 51.65 Td (delays ) Tj ET Q q 0 0 0 rg BT 503.36 51.65 Td (in ) Tj ET Q q 0 0 0 rg BT 512.92 51.65 Td (the ) Tj ET Q q 0 0 0 rg BT 527.98 51.65 Td (payment ) Tj ET Q endstream endobj 107 0 obj <> endobj 108 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (52) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 708.95 Td (of ) Tj ET Q q 0 0 0 rg BT 82.10 708.95 Td (our ) Tj ET Q q 0 0 0 rg BT 97.70 708.95 Td (invoices ) Tj ET Q q 0 0 0 rg BT 132.81 708.95 Td (by ) Tj ET Q q 0 0 0 rg BT 144.90 708.95 Td (government ) Tj ET Q q 0 0 0 rg BT 195.02 708.95 Td (payment ) Tj ET Q q 0 0 0 rg BT 232.13 708.95 Td (of) Tj ET Q q 0 0 0 rg BT 239.48 708.95 Td (fices; ) Tj ET Q q 0 0 0 rg BT 263.08 708.95 Td (and ) Tj ET Q q 0 0 0 rg BT 280.68 708.95 Td (general ) Tj ET Q q 0 0 0 rg BT 313.30 708.95 Td (economic ) Tj ET Q q 0 0 0 rg BT 354.41 708.95 Td (and ) Tj ET Q q 0 0 0 rg BT 372.02 708.95 Td (political ) Tj ET Q q 0 0 0 rg BT 404.63 708.95 Td (conditions. ) Tj ET Q q 0 0 0 rg BT 450.08 708.95 Td (These ) Tj ET Q q 0 0 0 rg BT 477.68 708.95 Td (or ) Tj ET Q q 0 0 0 rg BT 488.28 708.95 Td (other ) Tj ET Q q 0 0 0 rg BT 511.38 708.95 Td (factors ) Tj ET Q q 0 0 0 rg BT 540.98 708.95 Td (could ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 695.45 Td (cause ) Tj ET Q q 0 0 0 rg BT 98.56 695.45 Td (government ) Tj ET Q q 0 0 0 rg BT 148.64 695.45 Td (agencies ) Tj ET Q q 0 0 0 rg BT 187.21 695.45 Td (and ) Tj ET Q q 0 0 0 rg BT 204.77 695.45 Td (departments ) Tj ET Q q 0 0 0 rg BT 257.35 695.45 Td (to ) Tj ET Q q 0 0 0 rg BT 267.40 695.45 Td (reduce ) Tj ET Q q 0 0 0 rg BT 297.47 695.45 Td (their ) Tj ET Q q 0 0 0 rg BT 317.52 695.45 Td (purchases ) Tj ET Q q 0 0 0 rg BT 361.59 695.45 Td (under ) Tj ET Q q 0 0 0 rg BT 387.16 695.45 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 428.72 695.45 Td (to ) Tj ET Q q 0 0 0 rg BT 438.77 695.45 Td (exercise ) Tj ET Q q 0 0 0 rg BT 474.83 695.45 Td (their ) Tj ET Q q 0 0 0 rg BT 494.88 695.45 Td (right ) Tj ET Q q 0 0 0 rg BT 514.94 695.45 Td (to ) Tj ET Q q 0 0 0 rg BT 524.99 695.45 Td (terminate ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 681.95 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 113.75 681.95 Td (to ) Tj ET Q q 0 0 0 rg BT 124.00 681.95 Td (issue ) Tj ET Q q 0 0 0 rg BT 147.75 681.95 Td (temporary ) Tj ET Q q 0 0 0 rg BT 191.00 681.95 Td (stop ) Tj ET Q q 0 0 0 rg BT 210.75 681.95 Td (work ) Tj ET Q q 0 0 0 rg BT 232.50 681.95 Td (orders, ) Tj ET Q q 0 0 0 rg BT 263.25 681.95 Td (or ) Tj ET Q q 0 0 0 rg BT 273.99 681.95 Td (not ) Tj ET Q q 0 0 0 rg BT 289.24 681.95 Td (to ) Tj ET Q q 0 0 0 rg BT 299.48 681.95 Td (exercise ) Tj ET Q q 0 0 0 rg BT 335.74 681.95 Td (options ) Tj ET Q q 0 0 0 rg BT 367.50 681.95 Td (to ) Tj ET Q q 0 0 0 rg BT 377.74 681.95 Td (renew ) Tj ET Q q 0 0 0 rg BT 405.00 681.95 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 446.75 681.95 Td (any ) Tj ET Q q 0 0 0 rg BT 464.00 681.95 Td (of ) Tj ET Q q 0 0 0 rg BT 474.25 681.95 Td (which ) Tj ET Q q 0 0 0 rg BT 500.00 681.95 Td (would ) Tj ET Q q 0 0 0 rg BT 526.25 681.95 Td (cause ) Tj ET Q q 0 0 0 rg BT 553.01 681.95 Td (us ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 668.45 Td (to ) Tj ET Q q 0 0 0 rg BT 81.14 668.45 Td (lose ) Tj ET Q q 0 0 0 rg BT 99.29 668.45 Td (future ) Tj ET Q q 0 0 0 rg BT 123.95 668.45 Td (revenue. ) Tj ET Q q 0 0 0 rg BT 160.61 668.45 Td (Government ) Tj ET Q q 0 0 0 rg BT 211.77 668.45 Td (spending ) Tj ET Q q 0 0 0 rg BT 249.94 668.45 Td (reductions ) Tj ET Q q 0 0 0 rg BT 293.10 668.45 Td (or ) Tj ET Q q 0 0 0 rg BT 302.74 668.45 Td (budget ) Tj ET Q q 0 0 0 rg BT 331.91 668.45 Td (cutbacks ) Tj ET Q q 0 0 0 rg BT 369.07 668.45 Td (at ) Tj ET Q q 0 0 0 rg BT 378.21 668.45 Td (these ) Tj ET Q q 0 0 0 rg BT 401.87 668.45 Td (departments ) Tj ET Q q 0 0 0 rg BT 453.53 668.45 Td (or ) Tj ET Q q 0 0 0 rg BT 463.17 668.45 Td (agencies ) Tj ET Q q 0 0 0 rg BT 500.84 668.45 Td (could ) Tj ET Q q 0 0 0 rg BT 523.99 668.45 Td (materially ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 654.95 Td (harm ) Tj ET Q q 0 0 0 rg BT 95.01 654.95 Td (our ) Tj ET Q q 0 0 0 rg BT 110.51 654.95 Td (continued ) Tj ET Q q 0 0 0 rg BT 152.05 654.95 Td (performance ) Tj ET Q q 0 0 0 rg BT 205.07 654.95 Td (under ) Tj ET Q q 0 0 0 rg BT 230.59 654.95 Td (these ) Tj ET Q q 0 0 0 rg BT 255.11 654.95 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 296.62 654.95 Td (or ) Tj ET Q q 0 0 0 rg BT 307.13 654.95 Td (limit ) Tj ET Q q 0 0 0 rg BT 325.62 654.95 Td (the ) Tj ET Q q 0 0 0 rg BT 340.63 654.95 Td (awarding ) Tj ET Q q 0 0 0 rg BT 379.66 654.95 Td (of ) Tj ET Q q 0 0 0 rg BT 389.66 654.95 Td (additional ) Tj ET Q q 0 0 0 rg BT 430.69 654.95 Td (contracts ) Tj ET Q q 0 0 0 rg BT 469.71 654.95 Td (from ) Tj ET Q q 0 0 0 rg BT 490.21 654.95 Td (these ) Tj ET Q q 0 0 0 rg BT 514.73 654.95 Td (agencies.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 633.866796875 m 133.5205078125 633.866796875 l s q 0 0 0 rg BT 73.50 635.15 Td (Regulatory ) Tj ET Q q 0 0 0 rg BT 119.52 635.15 Td (risk) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 618.65 Td (Our ) Tj ET Q q 0 0 0 rg BT 90.02 618.65 Td (global ) Tj ET Q q 0 0 0 rg BT 117.05 618.65 Td (operations ) Tj ET Q q 0 0 0 rg BT 162.10 618.65 Td (require ) Tj ET Q q 0 0 0 rg BT 193.13 618.65 Td (us ) Tj ET Q q 0 0 0 rg BT 205.65 618.65 Td (to ) Tj ET Q q 0 0 0 rg BT 216.17 618.65 Td (be ) Tj ET Q q 0 0 0 rg BT 229.20 618.65 Td (compliant ) Tj ET Q q 0 0 0 rg BT 270.73 618.65 Td (with ) Tj ET Q q 0 0 0 rg BT 289.75 618.65 Td (laws ) Tj ET Q q 0 0 0 rg BT 310.77 618.65 Td (in ) Tj ET Q q 0 0 0 rg BT 320.79 618.65 Td (many ) Tj ET Q q 0 0 0 rg BT 345.82 618.65 Td (jurisdictions ) Tj ET Q q 0 0 0 rg BT 395.85 618.65 Td (on ) Tj ET Q q 0 0 0 rg BT 408.88 618.65 Td (matters ) Tj ET Q q 0 0 0 rg BT 441.90 618.65 Td (such ) Tj ET Q q 0 0 0 rg BT 463.92 618.65 Td (as: ) Tj ET Q q 0 0 0 rg BT 478.95 618.65 Td (anti-corruption, ) Tj ET Q q 0 0 0 rg BT 541.99 618.65 Td (trade ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 605.15 Td (restrictions, ) Tj ET Q q 0 0 0 rg BT 119.53 605.15 Td (immigration, ) Tj ET Q q 0 0 0 rg BT 170.07 605.15 Td (taxation, ) Tj ET Q q 0 0 0 rg BT 205.61 605.15 Td (securities ) Tj ET Q q 0 0 0 rg BT 245.14 605.15 Td (regulation, ) Tj ET Q q 0 0 0 rg BT 288.69 605.15 Td (antitrust, ) Tj ET Q q 0 0 0 rg BT 324.73 605.15 Td (data ) Tj ET Q q 0 0 0 rg BT 343.77 605.15 Td (privacy ) Tj ET Q q 0 0 0 rg BT 373.80 605.15 Td (and ) Tj ET Q q 0 0 0 rg BT 390.34 605.15 Td (labour ) Tj ET Q q 0 0 0 rg BT 416.88 605.15 Td (relations, ) Tj ET Q q 0 0 0 rg BT 454.92 605.15 Td (amongst ) Tj ET Q q 0 0 0 rg BT 490.96 605.15 Td (others. ) Tj ET Q q 0 0 0 rg BT 519.99 605.15 Td (Complying ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 591.65 Td (with ) Tj ET Q q 0 0 0 rg BT 91.43 591.65 Td (these ) Tj ET Q q 0 0 0 rg BT 116.87 591.65 Td (diverse ) Tj ET Q q 0 0 0 rg BT 149.30 591.65 Td (requirements ) Tj ET Q q 0 0 0 rg BT 205.25 591.65 Td (worldwide ) Tj ET Q q 0 0 0 rg BT 248.69 591.65 Td (is ) Tj ET Q q 0 0 0 rg BT 258.61 591.65 Td (a ) Tj ET Q q 0 0 0 rg BT 267.04 591.65 Td (challenge ) Tj ET Q q 0 0 0 rg BT 309.00 591.65 Td (and ) Tj ET Q q 0 0 0 rg BT 327.44 591.65 Td (consumes ) Tj ET Q q 0 0 0 rg BT 371.88 591.65 Td (significant ) Tj ET Q q 0 0 0 rg BT 415.32 591.65 Td (resources. ) Tj ET Q q 0 0 0 rg BT 460.76 591.65 Td (Some ) Tj ET Q q 0 0 0 rg BT 487.70 591.65 Td (of ) Tj ET Q q 0 0 0 rg BT 498.63 591.65 Td (these ) Tj ET Q q 0 0 0 rg BT 524.07 591.65 Td (laws ) Tj ET Q q 0 0 0 rg BT 545.49 591.65 Td (may ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 578.15 Td (impose ) Tj ET Q q 0 0 0 rg BT 103.89 578.15 Td (conflicting ) Tj ET Q q 0 0 0 rg BT 146.79 578.15 Td (requirements; ) Tj ET Q q 0 0 0 rg BT 204.69 578.15 Td (we ) Tj ET Q q 0 0 0 rg BT 219.08 578.15 Td (may ) Tj ET Q q 0 0 0 rg BT 238.96 578.15 Td (face ) Tj ET Q q 0 0 0 rg BT 258.85 578.15 Td (the ) Tj ET Q q 0 0 0 rg BT 274.24 578.15 Td (absence ) Tj ET Q q 0 0 0 rg BT 311.15 578.15 Td (in ) Tj ET Q q 0 0 0 rg BT 321.03 578.15 Td (some ) Tj ET Q q 0 0 0 rg BT 345.92 578.15 Td (jurisdictions ) Tj ET Q q 0 0 0 rg BT 395.81 578.15 Td (of ) Tj ET Q q 0 0 0 rg BT 406.20 578.15 Td (ef) Tj ET Q q 0 0 0 rg BT 413.54 578.15 Td (fective ) Tj ET Q q 0 0 0 rg BT 442.43 578.15 Td (laws ) Tj ET Q q 0 0 0 rg BT 463.31 578.15 Td (to ) Tj ET Q q 0 0 0 rg BT 473.70 578.15 Td (protect ) Tj ET Q q 0 0 0 rg BT 504.09 578.15 Td (our ) Tj ET Q q 0 0 0 rg BT 519.98 578.15 Td (intellectual ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 564.65 Td (property ) Tj ET Q q 0 0 0 rg BT 107.41 564.65 Td (rights; ) Tj ET Q q 0 0 0 rg BT 134.30 564.65 Td (there ) Tj ET Q q 0 0 0 rg BT 157.21 564.65 Td (may ) Tj ET Q q 0 0 0 rg BT 176.60 564.65 Td (be ) Tj ET Q q 0 0 0 rg BT 189.00 564.65 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 234.90 564.65 Td (on ) Tj ET Q q 0 0 0 rg BT 247.30 564.65 Td (the ) Tj ET Q q 0 0 0 rg BT 262.20 564.65 Td (movement ) Tj ET Q q 0 0 0 rg BT 306.60 564.65 Td (of ) Tj ET Q q 0 0 0 rg BT 316.50 564.65 Td (cash ) Tj ET Q q 0 0 0 rg BT 337.90 564.65 Td (and ) Tj ET Q q 0 0 0 rg BT 355.30 564.65 Td (other ) Tj ET Q q 0 0 0 rg BT 378.21 564.65 Td (assets; ) Tj ET Q q 0 0 0 rg BT 409.11 564.65 Td (or ) Tj ET Q q 0 0 0 rg BT 419.50 564.65 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 465.40 564.65 Td (on ) Tj ET Q q 0 0 0 rg BT 477.80 564.65 Td (the ) Tj ET Q q 0 0 0 rg BT 492.70 564.65 Td (import ) Tj ET Q q 0 0 0 rg BT 520.09 564.65 Td (and ) Tj ET Q q 0 0 0 rg BT 537.50 564.65 Td (export ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 551.15 Td (of ) Tj ET Q q 0 0 0 rg BT 81.84 551.15 Td (certain ) Tj ET Q q 0 0 0 rg BT 111.19 551.15 Td (technologies; ) Tj ET Q q 0 0 0 rg BT 166.57 551.15 Td (or ) Tj ET Q q 0 0 0 rg BT 176.91 551.15 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 222.75 551.15 Td (on ) Tj ET Q q 0 0 0 rg BT 235.10 551.15 Td (the ) Tj ET Q q 0 0 0 rg BT 249.95 551.15 Td (repatriation ) Tj ET Q q 0 0 0 rg BT 297.31 551.15 Td (of ) Tj ET Q q 0 0 0 rg BT 307.16 551.15 Td (earnings ) Tj ET Q q 0 0 0 rg BT 344.02 551.15 Td (and ) Tj ET Q q 0 0 0 rg BT 361.37 551.15 Td (reduce ) Tj ET Q q 0 0 0 rg BT 391.22 551.15 Td (our ) Tj ET Q q 0 0 0 rg BT 406.57 551.15 Td (earnings, ) Tj ET Q q 0 0 0 rg BT 445.93 551.15 Td (all ) Tj ET Q q 0 0 0 rg BT 457.27 551.15 Td (of ) Tj ET Q q 0 0 0 rg BT 467.11 551.15 Td (which ) Tj ET Q q 0 0 0 rg BT 492.46 551.15 Td (may ) Tj ET Q q 0 0 0 rg BT 511.80 551.15 Td (expose ) Tj ET Q q 0 0 0 rg BT 543.16 551.15 Td (us ) Tj ET Q q 0 0 0 rg BT 555.00 551.15 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 537.65 Td (penalties ) Tj ET Q q 0 0 0 rg BT 110.53 537.65 Td (for ) Tj ET Q q 0 0 0 rg BT 123.53 537.65 Td (non-compliance ) Tj ET Q q 0 0 0 rg BT 189.57 537.65 Td (and ) Tj ET Q q 0 0 0 rg BT 207.08 537.65 Td (harm ) Tj ET Q q 0 0 0 rg BT 230.09 537.65 Td (our ) Tj ET Q q 0 0 0 rg BT 245.60 537.65 Td (reputation.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 518.15 Td (Our ) Tj ET Q q 0 0 0 rg BT 89.49 518.15 Td (business ) Tj ET Q q 0 0 0 rg BT 127.50 518.15 Td (with ) Tj ET Q q 0 0 0 rg BT 145.99 518.15 Td (the ) Tj ET Q q 0 0 0 rg BT 160.99 518.15 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 180.98 518.15 Td (federal ) Tj ET Q q 0 0 0 rg BT 210.98 518.15 Td (government ) Tj ET Q q 0 0 0 rg BT 261.00 518.15 Td (and ) Tj ET Q q 0 0 0 rg BT 278.50 518.15 Td (its ) Tj ET Q q 0 0 0 rg BT 289.99 518.15 Td (agencies ) Tj ET Q q 0 0 0 rg BT 328.50 518.15 Td (requires ) Tj ET Q q 0 0 0 rg BT 363.50 518.15 Td (that ) Tj ET Q q 0 0 0 rg BT 381.00 518.15 Td (we ) Tj ET Q q 0 0 0 rg BT 394.99 518.15 Td (comply ) Tj ET Q q 0 0 0 rg BT 425.99 518.15 Td (with ) Tj ET Q q 0 0 0 rg BT 444.48 518.15 Td (complex ) Tj ET Q q 0 0 0 rg BT 480.48 518.15 Td (laws ) Tj ET Q q 0 0 0 rg BT 500.97 518.15 Td (and ) Tj ET Q q 0 0 0 rg BT 518.47 518.15 Td (regulations ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 504.65 Td (relating ) Tj ET Q q 0 0 0 rg BT 102.82 504.65 Td (to ) Tj ET Q q 0 0 0 rg BT 111.63 504.65 Td (government ) Tj ET Q q 0 0 0 rg BT 160.46 504.65 Td (contracts. ) Tj ET Q q 0 0 0 rg BT 200.70 504.65 Td (These ) Tj ET Q q 0 0 0 rg BT 227.02 504.65 Td (laws ) Tj ET Q q 0 0 0 rg BT 246.32 504.65 Td (relate ) Tj ET Q q 0 0 0 rg BT 270.14 504.65 Td (to ) Tj ET Q q 0 0 0 rg BT 278.95 504.65 Td (the ) Tj ET Q q 0 0 0 rg BT 292.77 504.65 Td (integrity ) Tj ET Q q 0 0 0 rg BT 325.58 504.65 Td (of ) Tj ET Q q 0 0 0 rg BT 334.39 504.65 Td (the ) Tj ET Q q 0 0 0 rg BT 348.21 504.65 Td (procurement ) Tj ET Q q 0 0 0 rg BT 400.04 504.65 Td (process, ) Tj ET Q q 0 0 0 rg BT 435.36 504.65 Td (impose ) Tj ET Q q 0 0 0 rg BT 465.67 504.65 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 507.49 504.65 Td (requirements, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 491.15 Td (and ) Tj ET Q q 0 0 0 rg BT 90.91 491.15 Td (address ) Tj ET Q q 0 0 0 rg BT 126.83 491.15 Td (national ) Tj ET Q q 0 0 0 rg BT 162.26 491.15 Td (security ) Tj ET Q q 0 0 0 rg BT 197.16 491.15 Td (concerns, ) Tj ET Q q 0 0 0 rg BT 240.08 491.15 Td (among ) Tj ET Q q 0 0 0 rg BT 271.50 491.15 Td (other ) Tj ET Q q 0 0 0 rg BT 295.91 491.15 Td (matters. ) Tj ET Q q 0 0 0 rg BT 332.31 491.15 Td (For ) Tj ET Q q 0 0 0 rg BT 349.71 491.15 Td (instance, ) Tj ET Q q 0 0 0 rg BT 389.63 491.15 Td (we ) Tj ET Q q 0 0 0 rg BT 405.04 491.15 Td (are ) Tj ET Q q 0 0 0 rg BT 421.94 491.15 Td (routinely ) Tj ET Q q 0 0 0 rg BT 459.86 491.15 Td (subject ) Tj ET Q q 0 0 0 rg BT 492.27 491.15 Td (to ) Tj ET Q q 0 0 0 rg BT 503.68 491.15 Td (audits ) Tj ET Q q 0 0 0 rg BT 531.59 491.15 Td (by ) Tj ET Q q 0 0 0 rg BT 545.00 491.15 Td (U.S. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 477.65 Td (government ) Tj ET Q q 0 0 0 rg BT 121.94 477.65 Td (agencies ) Tj ET Q q 0 0 0 rg BT 160.37 477.65 Td (with ) Tj ET Q q 0 0 0 rg BT 178.79 477.65 Td (respect ) Tj ET Q q 0 0 0 rg BT 210.71 477.65 Td (to ) Tj ET Q q 0 0 0 rg BT 220.63 477.65 Td (compliance ) Tj ET Q q 0 0 0 rg BT 268.56 477.65 Td (with ) Tj ET Q q 0 0 0 rg BT 286.98 477.65 Td (these ) Tj ET Q q 0 0 0 rg BT 311.40 477.65 Td (rules. ) Tj ET Q q 0 0 0 rg BT 335.82 477.65 Td (If ) Tj ET Q q 0 0 0 rg BT 343.23 477.65 Td (we ) Tj ET Q q 0 0 0 rg BT 357.15 477.65 Td (fail ) Tj ET Q q 0 0 0 rg BT 371.06 477.65 Td (to ) Tj ET Q q 0 0 0 rg BT 380.98 477.65 Td (comply ) Tj ET Q q 0 0 0 rg BT 411.90 477.65 Td (with ) Tj ET Q q 0 0 0 rg BT 430.31 477.65 Td (these ) Tj ET Q q 0 0 0 rg BT 454.74 477.65 Td (requirements ) Tj ET Q q 0 0 0 rg BT 509.67 477.65 Td (we ) Tj ET Q q 0 0 0 rg BT 523.59 477.65 Td (may ) Tj ET Q q 0 0 0 rg BT 543.00 477.65 Td (incur ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 464.15 Td (penalties ) Tj ET Q q 0 0 0 rg BT 109.29 464.15 Td (and ) Tj ET Q q 0 0 0 rg BT 125.57 464.15 Td (sanctions, ) Tj ET Q q 0 0 0 rg BT 167.36 464.15 Td (including ) Tj ET Q q 0 0 0 rg BT 204.15 464.15 Td (contract ) Tj ET Q q 0 0 0 rg BT 237.43 464.15 Td (termination, ) Tj ET Q q 0 0 0 rg BT 285.72 464.15 Td (suspension ) Tj ET Q q 0 0 0 rg BT 332.52 464.15 Td (of ) Tj ET Q q 0 0 0 rg BT 341.29 464.15 Td (payments, ) Tj ET Q q 0 0 0 rg BT 384.08 464.15 Td (suspension ) Tj ET Q q 0 0 0 rg BT 430.88 464.15 Td (or ) Tj ET Q q 0 0 0 rg BT 440.14 464.15 Td (debarment ) Tj ET Q q 0 0 0 rg BT 484.44 464.15 Td (from ) Tj ET Q q 0 0 0 rg BT 503.70 464.15 Td (doing ) Tj ET Q q 0 0 0 rg BT 526.99 464.15 Td (business ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 450.65 Td (with ) Tj ET Q q 0 0 0 rg BT 90.51 450.65 Td (the ) Tj ET Q q 0 0 0 rg BT 105.52 450.65 Td (federal ) Tj ET Q q 0 0 0 rg BT 135.54 450.65 Td (government, ) Tj ET Q q 0 0 0 rg BT 188.06 450.65 Td (and ) Tj ET Q q 0 0 0 rg BT 205.58 450.65 Td (fines.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 429.566796875 m 217.0693359375 429.566796875 l s q 0 0 0 rg BT 73.50 430.85 Td (Legal ) Tj ET Q q 0 0 0 rg BT 98.02 430.85 Td (claims ) Tj ET Q q 0 0 0 rg BT 126.02 430.85 Td (made ) Tj ET Q q 0 0 0 rg BT 151.04 430.85 Td (against ) Tj ET Q q 0 0 0 rg BT 182.56 430.85 Td (our ) Tj ET Q q 0 0 0 rg BT 198.07 430.85 Td (work) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 414.35 Td (W) Tj ET Q q 0 0 0 rg BT 80.33 414.35 Td (e ) Tj ET Q q 0 0 0 rg BT 87.78 414.35 Td (create, ) Tj ET Q q 0 0 0 rg BT 117.75 414.35 Td (implement ) Tj ET Q q 0 0 0 rg BT 161.71 414.35 Td (and ) Tj ET Q q 0 0 0 rg BT 179.17 414.35 Td (maintain ) Tj ET Q q 0 0 0 rg BT 215.63 414.35 Td (IT) Tj ET Q q 0 0 0 rg BT 223.47 414.35 Td ( ) Tj ET Q q 0 0 0 rg BT 225.92 414.35 Td (solutions ) Tj ET Q q 0 0 0 rg BT 263.88 414.35 Td (that ) Tj ET Q q 0 0 0 rg BT 281.34 414.35 Td (are ) Tj ET Q q 0 0 0 rg BT 296.80 414.35 Td (often ) Tj ET Q q 0 0 0 rg BT 319.26 414.35 Td (critical ) Tj ET Q q 0 0 0 rg BT 347.21 414.35 Td (to ) Tj ET Q q 0 0 0 rg BT 357.16 414.35 Td (the ) Tj ET Q q 0 0 0 rg BT 372.12 414.35 Td (operations ) Tj ET Q q 0 0 0 rg BT 416.60 414.35 Td (of ) Tj ET Q q 0 0 0 rg BT 426.55 414.35 Td (our ) Tj ET Q q 0 0 0 rg BT 442.00 414.35 Td (clients) Tj ET Q q 0 0 0 rg BT 469.18 414.35 Td ( ) Tj ET Q q 0 0 0 rg BT 471.63 414.35 Td (business. ) Tj ET Q q 0 0 0 rg BT 512.09 414.35 Td (Our ) Tj ET Q q 0 0 0 rg BT 529.54 414.35 Td (ability ) Tj ET Q q 0 0 0 rg BT 555.00 414.35 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 400.85 Td (complete ) Tj ET Q q 0 0 0 rg BT 110.61 400.85 Td (large ) Tj ET Q q 0 0 0 rg BT 132.71 400.85 Td (projects ) Tj ET Q q 0 0 0 rg BT 166.32 400.85 Td (as ) Tj ET Q q 0 0 0 rg BT 177.91 400.85 Td (expected ) Tj ET Q q 0 0 0 rg BT 216.53 400.85 Td (could ) Tj ET Q q 0 0 0 rg BT 240.13 400.85 Td (be ) Tj ET Q q 0 0 0 rg BT 252.24 400.85 Td (adversely ) Tj ET Q q 0 0 0 rg BT 292.84 400.85 Td (af) Tj ET Q q 0 0 0 rg BT 300.19 400.85 Td (fected ) Tj ET Q q 0 0 0 rg BT 326.79 400.85 Td (by ) Tj ET Q q 0 0 0 rg BT 338.39 400.85 Td (unanticipated ) Tj ET Q q 0 0 0 rg BT 394.02 400.85 Td (delays, ) Tj ET Q q 0 0 0 rg BT 424.63 400.85 Td (renegotiations, ) Tj ET Q q 0 0 0 rg BT 485.76 400.85 Td (and ) Tj ET Q q 0 0 0 rg BT 502.87 400.85 Td (changing ) Tj ET Q q 0 0 0 rg BT 541.49 400.85 Td (client ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 387.35 Td (requirements ) Tj ET Q q 0 0 0 rg BT 126.88 387.35 Td (or ) Tj ET Q q 0 0 0 rg BT 137.24 387.35 Td (project ) Tj ET Q q 0 0 0 rg BT 166.62 387.35 Td (delays. ) Tj ET Q q 0 0 0 rg BT 197.02 387.35 Td (Also, ) Tj ET Q q 0 0 0 rg BT 219.39 387.35 Td (our ) Tj ET Q q 0 0 0 rg BT 234.76 387.35 Td (solutions ) Tj ET Q q 0 0 0 rg BT 272.64 387.35 Td (may ) Tj ET Q q 0 0 0 rg BT 292.00 387.35 Td (suf) Tj ET Q q 0 0 0 rg BT 303.84 387.35 Td (fer ) Tj ET Q q 0 0 0 rg BT 316.70 387.35 Td (from ) Tj ET Q q 0 0 0 rg BT 337.06 387.35 Td (defects ) Tj ET Q q 0 0 0 rg BT 368.44 387.35 Td (that ) Tj ET Q q 0 0 0 rg BT 385.81 387.35 Td (adversely ) Tj ET Q q 0 0 0 rg BT 426.69 387.35 Td (af) Tj ET Q q 0 0 0 rg BT 434.03 387.35 Td (fect ) Tj ET Q q 0 0 0 rg BT 450.89 387.35 Td (their ) Tj ET Q q 0 0 0 rg BT 470.76 387.35 Td (performance; ) Tj ET Q q 0 0 0 rg BT 526.14 387.35 Td (they ) Tj ET Q q 0 0 0 rg BT 545.51 387.35 Td (may ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 373.85 Td (not ) Tj ET Q q 0 0 0 rg BT 87.13 373.85 Td (meet ) Tj ET Q q 0 0 0 rg BT 109.75 373.85 Td (our ) Tj ET Q q 0 0 0 rg BT 125.38 373.85 Td (clients) Tj ET Q q 0 0 0 rg BT 152.56 373.85 Td ( ) Tj ET Q q 0 0 0 rg BT 155.17 373.85 Td (requirements ) Tj ET Q q 0 0 0 rg BT 210.31 373.85 Td (or ) Tj ET Q q 0 0 0 rg BT 220.94 373.85 Td (may ) Tj ET Q q 0 0 0 rg BT 240.56 373.85 Td (fail ) Tj ET Q q 0 0 0 rg BT 254.68 373.85 Td (to ) Tj ET Q q 0 0 0 rg BT 264.80 373.85 Td (perform ) Tj ET Q q 0 0 0 rg BT 298.43 373.85 Td (in ) Tj ET Q q 0 0 0 rg BT 308.05 373.85 Td (accordance ) Tj ET Q q 0 0 0 rg BT 357.20 373.85 Td (with ) Tj ET Q q 0 0 0 rg BT 375.82 373.85 Td (applicable ) Tj ET Q q 0 0 0 rg BT 418.97 373.85 Td (service ) Tj ET Q q 0 0 0 rg BT 450.09 373.85 Td (levels. ) Tj ET Q q 0 0 0 rg BT 478.22 373.85 Td (Such ) Tj ET Q q 0 0 0 rg BT 501.35 373.85 Td (problems ) Tj ET Q q 0 0 0 rg BT 540.98 373.85 Td (could ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 360.35 Td (subject ) Tj ET Q q 0 0 0 rg BT 103.96 360.35 Td (us ) Tj ET Q q 0 0 0 rg BT 116.91 360.35 Td (to ) Tj ET Q q 0 0 0 rg BT 127.86 360.35 Td (legal ) Tj ET Q q 0 0 0 rg BT 150.32 360.35 Td (liability) Tj ET Q q 0 0 0 rg BT 176.66 360.35 Td (, ) Tj ET Q q 0 0 0 rg BT 182.61 360.35 Td (which ) Tj ET Q q 0 0 0 rg BT 209.07 360.35 Td (could ) Tj ET Q q 0 0 0 rg BT 234.03 360.35 Td (adversely ) Tj ET Q q 0 0 0 rg BT 275.99 360.35 Td (af) Tj ET Q q 0 0 0 rg BT 283.33 360.35 Td (fect ) Tj ET Q q 0 0 0 rg BT 301.28 360.35 Td (our ) Tj ET Q q 0 0 0 rg BT 317.74 360.35 Td (business, ) Tj ET Q q 0 0 0 rg BT 359.20 360.35 Td (operating ) Tj ET Q q 0 0 0 rg BT 400.18 360.35 Td (results ) Tj ET Q q 0 0 0 rg BT 430.13 360.35 Td (and ) Tj ET Q q 0 0 0 rg BT 448.59 360.35 Td (financial ) Tj ET Q q 0 0 0 rg BT 485.06 360.35 Td (condition, ) Tj ET Q q 0 0 0 rg BT 527.03 360.35 Td (and ) Tj ET Q q 0 0 0 rg BT 545.49 360.35 Td (may ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 346.85 Td (negatively ) Tj ET Q q 0 0 0 rg BT 114.95 346.85 Td (af) Tj ET Q q 0 0 0 rg BT 122.29 346.85 Td (fect ) Tj ET Q q 0 0 0 rg BT 139.22 346.85 Td (our ) Tj ET Q q 0 0 0 rg BT 154.65 346.85 Td (professional ) Tj ET Q q 0 0 0 rg BT 205.60 346.85 Td (reputation. ) Tj ET Q q 0 0 0 rg BT 250.55 346.85 Td (W) Tj ET Q q 0 0 0 rg BT 258.88 346.85 Td (e ) Tj ET Q q 0 0 0 rg BT 266.31 346.85 Td (typically ) Tj ET Q q 0 0 0 rg BT 300.74 346.85 Td (use ) Tj ET Q q 0 0 0 rg BT 317.67 346.85 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 364.62 346.85 Td (ef) Tj ET Q q 0 0 0 rg BT 371.97 346.85 Td (forts ) Tj ET Q q 0 0 0 rg BT 391.89 346.85 Td (to ) Tj ET Q q 0 0 0 rg BT 401.82 346.85 Td (include ) Tj ET Q q 0 0 0 rg BT 432.76 346.85 Td (provisions ) Tj ET Q q 0 0 0 rg BT 475.70 346.85 Td (in ) Tj ET Q q 0 0 0 rg BT 485.12 346.85 Td (our ) Tj ET Q q 0 0 0 rg BT 500.55 346.85 Td (contracts ) Tj ET Q q 0 0 0 rg BT 539.49 346.85 Td (which ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 333.35 Td (are ) Tj ET Q q 0 0 0 rg BT 86.98 333.35 Td (designed ) Tj ET Q q 0 0 0 rg BT 125.49 333.35 Td (to ) Tj ET Q q 0 0 0 rg BT 134.96 333.35 Td (limit ) Tj ET Q q 0 0 0 rg BT 152.93 333.35 Td (our ) Tj ET Q q 0 0 0 rg BT 167.92 333.35 Td (exposure ) Tj ET Q q 0 0 0 rg BT 206.91 333.35 Td (to ) Tj ET Q q 0 0 0 rg BT 216.39 333.35 Td (legal ) Tj ET Q q 0 0 0 rg BT 237.38 333.35 Td (claims ) Tj ET Q q 0 0 0 rg BT 264.85 333.35 Td (relating ) Tj ET Q q 0 0 0 rg BT 296.35 333.35 Td (to ) Tj ET Q q 0 0 0 rg BT 305.82 333.35 Td (our ) Tj ET Q q 0 0 0 rg BT 320.81 333.35 Td (services ) Tj ET Q q 0 0 0 rg BT 355.79 333.35 Td (and ) Tj ET Q q 0 0 0 rg BT 372.77 333.35 Td (the ) Tj ET Q q 0 0 0 rg BT 387.26 333.35 Td (applications ) Tj ET Q q 0 0 0 rg BT 436.76 333.35 Td (we ) Tj ET Q q 0 0 0 rg BT 450.24 333.35 Td (develop. ) Tj ET Q q 0 0 0 rg BT 486.24 333.35 Td (W) Tj ET Q q 0 0 0 rg BT 494.57 333.35 Td (e ) Tj ET Q q 0 0 0 rg BT 501.55 333.35 Td (may ) Tj ET Q q 0 0 0 rg BT 520.53 333.35 Td (not ) Tj ET Q q 0 0 0 rg BT 535.01 333.35 Td (always ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 319.85 Td (be ) Tj ET Q q 0 0 0 rg BT 83.66 319.85 Td (able ) Tj ET Q q 0 0 0 rg BT 102.33 319.85 Td (to ) Tj ET Q q 0 0 0 rg BT 111.49 319.85 Td (include ) Tj ET Q q 0 0 0 rg BT 141.67 319.85 Td (such ) Tj ET Q q 0 0 0 rg BT 162.33 319.85 Td (provisions ) Tj ET Q q 0 0 0 rg BT 204.50 319.85 Td (and, ) Tj ET Q q 0 0 0 rg BT 223.67 319.85 Td (where ) Tj ET Q q 0 0 0 rg BT 249.84 319.85 Td (we ) Tj ET Q q 0 0 0 rg BT 263.00 319.85 Td (are ) Tj ET Q q 0 0 0 rg BT 277.66 319.85 Td (successful, ) Tj ET Q q 0 0 0 rg BT 323.83 319.85 Td (they ) Tj ET Q q 0 0 0 rg BT 342.49 319.85 Td (may ) Tj ET Q q 0 0 0 rg BT 361.15 319.85 Td (not ) Tj ET Q q 0 0 0 rg BT 375.31 319.85 Td (protect ) Tj ET Q q 0 0 0 rg BT 404.48 319.85 Td (us ) Tj ET Q q 0 0 0 rg BT 415.64 319.85 Td (adequately ) Tj ET Q q 0 0 0 rg BT 461.33 319.85 Td (or ) Tj ET Q q 0 0 0 rg BT 470.98 319.85 Td (may ) Tj ET Q q 0 0 0 rg BT 489.64 319.85 Td (not ) Tj ET Q q 0 0 0 rg BT 503.80 319.85 Td (be ) Tj ET Q q 0 0 0 rg BT 515.47 319.85 Td (enforceable ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 306.35 Td (under ) Tj ET Q q 0 0 0 rg BT 97.52 306.35 Td (some ) Tj ET Q q 0 0 0 rg BT 122.03 306.35 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 182.04 306.35 Td (or ) Tj ET Q q 0 0 0 rg BT 192.55 306.35 Td (under ) Tj ET Q q 0 0 0 rg BT 218.07 306.35 Td (the ) Tj ET Q q 0 0 0 rg BT 233.08 306.35 Td (laws ) Tj ET Q q 0 0 0 rg BT 253.58 306.35 Td (of ) Tj ET Q q 0 0 0 rg BT 263.59 306.35 Td (some ) Tj ET Q q 0 0 0 rg BT 288.10 306.35 Td (jurisdictions.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 72 285.566796875 m 227.56640625 285.566796875 l s q 0 0 0 rg BT 72.00 286.85 Td (Data ) Tj ET Q q 0 0 0 rg BT 93.51 286.85 Td (Protection ) Tj ET Q q 0 0 0 rg BT 136.53 286.85 Td (and ) Tj ET Q q 0 0 0 rg BT 154.05 286.85 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 209.07 286.85 Td (risks) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 267.35 Td (Our ) Tj ET Q q 0 0 0 rg BT 89.13 267.35 Td (business ) Tj ET Q q 0 0 0 rg BT 126.78 267.35 Td (often ) Tj ET Q q 0 0 0 rg BT 148.93 267.35 Td (requires ) Tj ET Q q 0 0 0 rg BT 183.58 267.35 Td (that ) Tj ET Q q 0 0 0 rg BT 200.72 267.35 Td (our ) Tj ET Q q 0 0 0 rg BT 215.86 267.35 Td (clients) Tj ET Q q 0 0 0 rg BT 243.03 267.35 Td ( ) Tj ET Q q 0 0 0 rg BT 245.16 267.35 Td (applications ) Tj ET Q q 0 0 0 rg BT 294.83 267.35 Td (and ) Tj ET Q q 0 0 0 rg BT 311.97 267.35 Td (information, ) Tj ET Q q 0 0 0 rg BT 361.12 267.35 Td (which ) Tj ET Q q 0 0 0 rg BT 386.26 267.35 Td (may ) Tj ET Q q 0 0 0 rg BT 405.40 267.35 Td (include ) Tj ET Q q 0 0 0 rg BT 436.05 267.35 Td (their ) Tj ET Q q 0 0 0 rg BT 455.69 267.35 Td (proprietary ) Tj ET Q q 0 0 0 rg BT 500.83 267.35 Td (information ) Tj ET Q q 0 0 0 rg BT 547.49 267.35 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 253.85 Td (personal ) Tj ET Q q 0 0 0 rg BT 110.01 253.85 Td (information ) Tj ET Q q 0 0 0 rg BT 158.02 253.85 Td (they ) Tj ET Q q 0 0 0 rg BT 178.51 253.85 Td (manage, ) Tj ET Q q 0 0 0 rg BT 217.02 253.85 Td (be ) Tj ET Q q 0 0 0 rg BT 230.52 253.85 Td (processed ) Tj ET Q q 0 0 0 rg BT 275.53 253.85 Td (and ) Tj ET Q q 0 0 0 rg BT 294.03 253.85 Td (stored ) Tj ET Q q 0 0 0 rg BT 322.53 253.85 Td (on ) Tj ET Q q 0 0 0 rg BT 336.03 253.85 Td (our ) Tj ET Q q 0 0 0 rg BT 352.52 253.85 Td (networks ) Tj ET Q q 0 0 0 rg BT 392.02 253.85 Td (and ) Tj ET Q q 0 0 0 rg BT 410.52 253.85 Td (systems, ) Tj ET Q q 0 0 0 rg BT 449.51 253.85 Td (and ) Tj ET Q q 0 0 0 rg BT 468.01 253.85 Td (in ) Tj ET Q q 0 0 0 rg BT 478.50 253.85 Td (data ) Tj ET Q q 0 0 0 rg BT 499.51 253.85 Td (centers ) Tj ET Q q 0 0 0 rg BT 532.51 253.85 Td (that ) Tj ET Q q 0 0 0 rg BT 551.00 253.85 Td (we ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 240.35 Td (manage. ) Tj ET Q q 0 0 0 rg BT 109.34 240.35 Td (W) Tj ET Q q 0 0 0 rg BT 117.67 240.35 Td (e ) Tj ET Q q 0 0 0 rg BT 125.00 240.35 Td (also ) Tj ET Q q 0 0 0 rg BT 143.83 240.35 Td (process ) Tj ET Q q 0 0 0 rg BT 177.66 240.35 Td (and ) Tj ET Q q 0 0 0 rg BT 194.99 240.35 Td (store ) Tj ET Q q 0 0 0 rg BT 217.32 240.35 Td (proprietary ) Tj ET Q q 0 0 0 rg BT 262.66 240.35 Td (information ) Tj ET Q q 0 0 0 rg BT 309.50 240.35 Td (relating ) Tj ET Q q 0 0 0 rg BT 341.33 240.35 Td (to ) Tj ET Q q 0 0 0 rg BT 351.16 240.35 Td (our ) Tj ET Q q 0 0 0 rg BT 366.48 240.35 Td (business, ) Tj ET Q q 0 0 0 rg BT 406.82 240.35 Td (and ) Tj ET Q q 0 0 0 rg BT 424.16 240.35 Td (personal ) Tj ET Q q 0 0 0 rg BT 461.00 240.35 Td (information ) Tj ET Q q 0 0 0 rg BT 507.84 240.35 Td (relating ) Tj ET Q q 0 0 0 rg BT 539.67 240.35 Td (to ) Tj ET Q q 0 0 0 rg BT 549.50 240.35 Td (our ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 226.85 Td (members. ) Tj ET Q q 0 0 0 rg BT 113.71 226.85 Td (The ) Tj ET Q q 0 0 0 rg BT 131.03 226.85 Td (Company ) Tj ET Q q 0 0 0 rg BT 171.37 226.85 Td (faces ) Tj ET Q q 0 0 0 rg BT 194.69 226.85 Td (risk ) Tj ET Q q 0 0 0 rg BT 210.51 226.85 Td (inherent ) Tj ET Q q 0 0 0 rg BT 244.85 226.85 Td (in ) Tj ET Q q 0 0 0 rg BT 253.67 226.85 Td (protecting ) Tj ET Q q 0 0 0 rg BT 295.01 226.85 Td (the ) Tj ET Q q 0 0 0 rg BT 309.34 226.85 Td (security ) Tj ET Q q 0 0 0 rg BT 342.17 226.85 Td (of ) Tj ET Q q 0 0 0 rg BT 351.49 226.85 Td (such ) Tj ET Q q 0 0 0 rg BT 372.32 226.85 Td (personal ) Tj ET Q q 0 0 0 rg BT 408.66 226.85 Td (data. ) Tj ET Q q 0 0 0 rg BT 430.49 226.85 Td (Digital ) Tj ET Q q 0 0 0 rg BT 457.32 226.85 Td (information ) Tj ET Q q 0 0 0 rg BT 503.65 226.85 Td (and ) Tj ET Q q 0 0 0 rg BT 520.49 226.85 Td (equipment ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 213.35 Td (are ) Tj ET Q q 0 0 0 rg BT 87.10 213.35 Td (subject ) Tj ET Q q 0 0 0 rg BT 117.70 213.35 Td (to ) Tj ET Q q 0 0 0 rg BT 127.29 213.35 Td (loss, ) Tj ET Q q 0 0 0 rg BT 147.89 213.35 Td (theft ) Tj ET Q q 0 0 0 rg BT 167.49 213.35 Td (or ) Tj ET Q q 0 0 0 rg BT 177.58 213.35 Td (destruction, ) Tj ET Q q 0 0 0 rg BT 226.19 213.35 Td (and ) Tj ET Q q 0 0 0 rg BT 243.29 213.35 Td (services ) Tj ET Q q 0 0 0 rg BT 278.39 213.35 Td (that ) Tj ET Q q 0 0 0 rg BT 295.49 213.35 Td (we ) Tj ET Q q 0 0 0 rg BT 309.08 213.35 Td (provide ) Tj ET Q q 0 0 0 rg BT 340.69 213.35 Td (may ) Tj ET Q q 0 0 0 rg BT 359.78 213.35 Td (become ) Tj ET Q q 0 0 0 rg BT 393.88 213.35 Td (temporarily ) Tj ET Q q 0 0 0 rg BT 440.48 213.35 Td (unavailable ) Tj ET Q q 0 0 0 rg BT 488.11 213.35 Td (as ) Tj ET Q q 0 0 0 rg BT 499.70 213.35 Td (a ) Tj ET Q q 0 0 0 rg BT 506.79 213.35 Td (result ) Tj ET Q q 0 0 0 rg BT 530.89 213.35 Td (of ) Tj ET Q q 0 0 0 rg BT 540.48 213.35 Td (those ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 199.85 Td (risks, ) Tj ET Q q 0 0 0 rg BT 95.42 199.85 Td (or ) Tj ET Q q 0 0 0 rg BT 105.84 199.85 Td (upon ) Tj ET Q q 0 0 0 rg BT 128.28 199.85 Td (an ) Tj ET Q q 0 0 0 rg BT 140.72 199.85 Td (equipment ) Tj ET Q q 0 0 0 rg BT 185.17 199.85 Td (or ) Tj ET Q q 0 0 0 rg BT 195.59 199.85 Td (system ) Tj ET Q q 0 0 0 rg BT 226.51 199.85 Td (malfunction. ) Tj ET Q q 0 0 0 rg BT 277.30 199.85 Td (The ) Tj ET Q q 0 0 0 rg BT 295.23 199.85 Td (causes ) Tj ET Q q 0 0 0 rg BT 326.17 199.85 Td (of ) Tj ET Q q 0 0 0 rg BT 336.09 199.85 Td (such ) Tj ET Q q 0 0 0 rg BT 357.53 199.85 Td (failures ) Tj ET Q q 0 0 0 rg BT 388.96 199.85 Td (include ) Tj ET Q q 0 0 0 rg BT 419.90 199.85 Td (human ) Tj ET Q q 0 0 0 rg BT 449.84 199.85 Td (error ) Tj ET Q q 0 0 0 rg BT 471.26 199.85 Td (in ) Tj ET Q q 0 0 0 rg BT 480.69 199.85 Td (the ) Tj ET Q q 0 0 0 rg BT 495.62 199.85 Td (course ) Tj ET Q q 0 0 0 rg BT 525.05 199.85 Td (of ) Tj ET Q q 0 0 0 rg BT 534.98 199.85 Td (normal ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 186.35 Td (operations ) Tj ET Q q 0 0 0 rg BT 115.41 186.35 Td (\(including ) Tj ET Q q 0 0 0 rg BT 155.32 186.35 Td (from ) Tj ET Q q 0 0 0 rg BT 174.70 186.35 Td (advertent ) Tj ET Q q 0 0 0 rg BT 213.61 186.35 Td (or ) Tj ET Q q 0 0 0 rg BT 223.00 186.35 Td (inadvertent ) Tj ET Q q 0 0 0 rg BT 268.91 186.35 Td (actions ) Tj ET Q q 0 0 0 rg BT 298.81 186.35 Td (or ) Tj ET Q q 0 0 0 rg BT 308.19 186.35 Td (inactions ) Tj ET Q q 0 0 0 rg BT 345.10 186.35 Td (by ) Tj ET Q q 0 0 0 rg BT 355.99 186.35 Td (our ) Tj ET Q q 0 0 0 rg BT 370.38 186.35 Td (members\), ) Tj ET Q q 0 0 0 rg BT 414.77 186.35 Td (maintenance ) Tj ET Q q 0 0 0 rg BT 467.68 186.35 Td (and ) Tj ET Q q 0 0 0 rg BT 484.08 186.35 Td (upgrading ) Tj ET Q q 0 0 0 rg BT 525.50 186.35 Td (activities, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 172.85 Td (as ) Tj ET Q q 0 0 0 rg BT 83.93 172.85 Td (well ) Tj ET Q q 0 0 0 rg BT 101.86 172.85 Td (as ) Tj ET Q q 0 0 0 rg BT 113.80 172.85 Td (hacking, ) Tj ET Q q 0 0 0 rg BT 149.75 172.85 Td (vandalism ) Tj ET Q q 0 0 0 rg BT 192.69 172.85 Td (\(including ) Tj ET Q q 0 0 0 rg BT 233.64 172.85 Td (denial ) Tj ET Q q 0 0 0 rg BT 260.09 172.85 Td (of ) Tj ET Q q 0 0 0 rg BT 270.02 172.85 Td (service ) Tj ET Q q 0 0 0 rg BT 300.96 172.85 Td (attacks ) Tj ET Q q 0 0 0 rg BT 331.89 172.85 Td (and ) Tj ET Q q 0 0 0 rg BT 349.34 172.85 Td (computer ) Tj ET Q q 0 0 0 rg BT 389.28 172.85 Td (viruses\), ) Tj ET Q q 0 0 0 rg BT 425.71 172.85 Td (theft, ) Tj ET Q q 0 0 0 rg BT 448.15 172.85 Td (and ) Tj ET Q q 0 0 0 rg BT 465.60 172.85 Td (unauthorized ) Tj ET Q q 0 0 0 rg BT 520.06 172.85 Td (access, ) Tj ET Q q 0 0 0 rg BT 553.00 172.85 Td (as ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 159.35 Td (well ) Tj ET Q q 0 0 0 rg BT 89.50 159.35 Td (as ) Tj ET Q q 0 0 0 rg BT 101.00 159.35 Td (power ) Tj ET Q q 0 0 0 rg BT 127.51 159.35 Td (outages ) Tj ET Q q 0 0 0 rg BT 161.53 159.35 Td (or ) Tj ET Q q 0 0 0 rg BT 171.53 159.35 Td (surges, ) Tj ET Q q 0 0 0 rg BT 203.04 159.35 Td (floods, ) Tj ET Q q 0 0 0 rg BT 231.55 159.35 Td (fires, ) Tj ET Q q 0 0 0 rg BT 253.05 159.35 Td (natural ) Tj ET Q q 0 0 0 rg BT 282.56 159.35 Td (disasters ) Tj ET Q q 0 0 0 rg BT 320.57 159.35 Td (and ) Tj ET Q q 0 0 0 rg BT 337.58 159.35 Td (many ) Tj ET Q q 0 0 0 rg BT 361.58 159.35 Td (other ) Tj ET Q q 0 0 0 rg BT 384.09 159.35 Td (causes. ) Tj ET Q q 0 0 0 rg BT 416.97 159.35 Td (The ) Tj ET Q q 0 0 0 rg BT 434.48 159.35 Td (measures ) Tj ET Q q 0 0 0 rg BT 475.99 159.35 Td (that ) Tj ET Q q 0 0 0 rg BT 492.99 159.35 Td (we ) Tj ET Q q 0 0 0 rg BT 506.49 159.35 Td (take ) Tj ET Q q 0 0 0 rg BT 525.50 159.35 Td (to ) Tj ET Q q 0 0 0 rg BT 535.00 159.35 Td (protect ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 145.85 Td (against ) Tj ET Q q 0 0 0 rg BT 103.23 145.85 Td (all ) Tj ET Q q 0 0 0 rg BT 114.43 145.85 Td (information ) Tj ET Q q 0 0 0 rg BT 161.16 145.85 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 215.88 145.85 Td (risks, ) Tj ET Q q 0 0 0 rg BT 239.08 145.85 Td (including ) Tj ET Q q 0 0 0 rg BT 276.81 145.85 Td (both ) Tj ET Q q 0 0 0 rg BT 296.53 145.85 Td (physical ) Tj ET Q q 0 0 0 rg BT 331.25 145.85 Td (and ) Tj ET Q q 0 0 0 rg BT 348.47 145.85 Td (logical ) Tj ET Q q 0 0 0 rg BT 376.19 145.85 Td (controls ) Tj ET Q q 0 0 0 rg BT 409.90 145.85 Td (on ) Tj ET Q q 0 0 0 rg BT 422.12 145.85 Td (access ) Tj ET Q q 0 0 0 rg BT 452.33 145.85 Td (to ) Tj ET Q q 0 0 0 rg BT 462.04 145.85 Td (premises ) Tj ET Q q 0 0 0 rg BT 500.76 145.85 Td (and ) Tj ET Q q 0 0 0 rg BT 517.98 145.85 Td (information ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 132.35 Td (may ) Tj ET Q q 0 0 0 rg BT 92.68 132.35 Td (prove ) Tj ET Q q 0 0 0 rg BT 118.86 132.35 Td (in ) Tj ET Q q 0 0 0 rg BT 129.54 132.35 Td (some ) Tj ET Q q 0 0 0 rg BT 155.22 132.35 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 216.41 132.35 Td (to ) Tj ET Q q 0 0 0 rg BT 227.59 132.35 Td (be ) Tj ET Q q 0 0 0 rg BT 241.28 132.35 Td (inadequate ) Tj ET Q q 0 0 0 rg BT 289.49 132.35 Td (to ) Tj ET Q q 0 0 0 rg BT 300.67 132.35 Td (prevent ) Tj ET Q q 0 0 0 rg BT 334.37 132.35 Td (the ) Tj ET Q q 0 0 0 rg BT 350.55 132.35 Td (improper ) Tj ET Q q 0 0 0 rg BT 389.74 132.35 Td (disclosure, ) Tj ET Q q 0 0 0 rg BT 436.43 132.35 Td (loss, ) Tj ET Q q 0 0 0 rg BT 458.61 132.35 Td (theft, ) Tj ET Q q 0 0 0 rg BT 482.30 132.35 Td (misappropriation ) Tj ET Q q 0 0 0 rg BT 552.50 132.35 Td (of, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 118.85 Td (unauthorized ) Tj ET Q q 0 0 0 rg BT 127.40 118.85 Td (access ) Tj ET Q q 0 0 0 rg BT 158.77 118.85 Td (to, ) Tj ET Q q 0 0 0 rg BT 172.14 118.85 Td (or ) Tj ET Q q 0 0 0 rg BT 183.50 118.85 Td (destruction ) Tj ET Q q 0 0 0 rg BT 230.88 118.85 Td (of ) Tj ET Q q 0 0 0 rg BT 241.75 118.85 Td (information, ) Tj ET Q q 0 0 0 rg BT 292.13 118.85 Td (or ) Tj ET Q q 0 0 0 rg BT 303.49 118.85 Td (service ) Tj ET Q q 0 0 0 rg BT 335.36 118.85 Td (interruptions. ) Tj ET Q q 0 0 0 rg BT 390.75 118.85 Td (Such ) Tj ET Q q 0 0 0 rg BT 414.62 118.85 Td (events ) Tj ET Q q 0 0 0 rg BT 444.50 118.85 Td (may ) Tj ET Q q 0 0 0 rg BT 464.86 118.85 Td (expose ) Tj ET Q q 0 0 0 rg BT 497.24 118.85 Td (the ) Tj ET Q q 0 0 0 rg BT 513.11 118.85 Td (Company ) Tj ET Q q 0 0 0 rg BT 554.99 118.85 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 105.35 Td (financial ) Tj ET Q q 0 0 0 rg BT 107.51 105.35 Td (loss ) Tj ET Q q 0 0 0 rg BT 126.00 105.35 Td (arising ) Tj ET Q q 0 0 0 rg BT 155.00 105.35 Td (from ) Tj ET Q q 0 0 0 rg BT 175.48 105.35 Td (the ) Tj ET Q q 0 0 0 rg BT 190.48 105.35 Td (costs ) Tj ET Q q 0 0 0 rg BT 213.98 105.35 Td (of ) Tj ET Q q 0 0 0 rg BT 223.97 105.35 Td (remediation ) Tj ET Q q 0 0 0 rg BT 273.48 105.35 Td (and ) Tj ET Q q 0 0 0 rg BT 290.98 105.35 Td (those ) Tj ET Q q 0 0 0 rg BT 315.49 105.35 Td (arising ) Tj ET Q q 0 0 0 rg BT 344.49 105.35 Td (from ) Tj ET Q q 0 0 0 rg BT 364.97 105.35 Td (litigation ) Tj ET Q q 0 0 0 rg BT 400.48 105.35 Td (\(including ) Tj ET Q q 0 0 0 rg BT 441.49 105.35 Td (under ) Tj ET Q q 0 0 0 rg BT 467.00 105.35 Td (the ) Tj ET Q q 0 0 0 rg BT 481.99 105.35 Td (laws ) Tj ET Q q 0 0 0 rg BT 502.48 105.35 Td (that ) Tj ET Q q 0 0 0 rg BT 519.98 105.35 Td (protect ) Tj ET Q q 0 0 0 rg BT 549.98 105.35 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 91.85 Td (privacy ) Tj ET Q q 0 0 0 rg BT 102.55 91.85 Td (of ) Tj ET Q q 0 0 0 rg BT 112.10 91.85 Td (personal ) Tj ET Q q 0 0 0 rg BT 148.67 91.85 Td (information\), ) Tj ET Q q 0 0 0 rg BT 200.73 91.85 Td (claims ) Tj ET Q q 0 0 0 rg BT 228.28 91.85 Td (and ) Tj ET Q q 0 0 0 rg BT 245.34 91.85 Td (damages, ) Tj ET Q q 0 0 0 rg BT 286.90 91.85 Td (as ) Tj ET Q q 0 0 0 rg BT 298.45 91.85 Td (well ) Tj ET Q q 0 0 0 rg BT 316.00 91.85 Td (as ) Tj ET Q q 0 0 0 rg BT 327.55 91.85 Td (expose ) Tj ET Q q 0 0 0 rg BT 358.62 91.85 Td (the ) Tj ET Q q 0 0 0 rg BT 373.17 91.85 Td (Company ) Tj ET Q q 0 0 0 rg BT 413.73 91.85 Td (to ) Tj ET Q q 0 0 0 rg BT 423.28 91.85 Td (government ) Tj ET Q q 0 0 0 rg BT 472.85 91.85 Td (sanctions ) Tj ET Q q 0 0 0 rg BT 512.92 91.85 Td (and ) Tj ET Q q 0 0 0 rg BT 529.98 91.85 Td (damage ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 78.35 Td (to ) Tj ET Q q 0 0 0 rg BT 82.01 78.35 Td (our ) Tj ET Q q 0 0 0 rg BT 97.51 78.35 Td (brand ) Tj ET Q q 0 0 0 rg BT 123.03 78.35 Td (and ) Tj ET Q q 0 0 0 rg BT 140.55 78.35 Td (reputation.) Tj ET Q endstream endobj 109 0 obj <> endobj 110 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (53) Tj ET Q BT /F1 10.00 Tf ET BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 707.666796875 m 200.04052734375 707.666796875 l s q 0 0 0 rg BT 73.50 708.95 Td (Security ) Tj ET Q q 0 0 0 rg BT 108.51 708.95 Td (and ) Tj ET Q q 0 0 0 rg BT 126.03 708.95 Td (cybersecurity ) Tj ET Q q 0 0 0 rg BT 181.54 708.95 Td (risks) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 692.45 Td (In ) Tj ET Q q 0 0 0 rg BT 82.40 692.45 Td (the ) Tj ET Q q 0 0 0 rg BT 97.81 692.45 Td (current ) Tj ET Q q 0 0 0 rg BT 128.72 692.45 Td (environment, ) Tj ET Q q 0 0 0 rg BT 183.64 692.45 Td (there ) Tj ET Q q 0 0 0 rg BT 207.06 692.45 Td (are ) Tj ET Q q 0 0 0 rg BT 222.96 692.45 Td (numerous ) Tj ET Q q 0 0 0 rg BT 265.88 692.45 Td (and ) Tj ET Q q 0 0 0 rg BT 283.79 692.45 Td (evolving ) Tj ET Q q 0 0 0 rg BT 319.71 692.45 Td (risks ) Tj ET Q q 0 0 0 rg BT 341.10 692.45 Td (to ) Tj ET Q q 0 0 0 rg BT 351.51 692.45 Td (cybersecurity) Tj ET Q q 0 0 0 rg BT 403.86 692.45 Td (, ) Tj ET Q q 0 0 0 rg BT 409.25 692.45 Td (including ) Tj ET Q q 0 0 0 rg BT 447.68 692.45 Td (criminal ) Tj ET Q q 0 0 0 rg BT 481.58 692.45 Td (hackers, ) Tj ET Q q 0 0 0 rg BT 518.49 692.45 Td (hacktivists, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 678.95 Td (state ) Tj ET Q q 0 0 0 rg BT 93.91 678.95 Td (sponsored ) Tj ET Q q 0 0 0 rg BT 138.34 678.95 Td (organizations, ) Tj ET Q q 0 0 0 rg BT 196.78 678.95 Td (industrial ) Tj ET Q q 0 0 0 rg BT 235.20 678.95 Td (espionage, ) Tj ET Q q 0 0 0 rg BT 281.64 678.95 Td (employee ) Tj ET Q q 0 0 0 rg BT 323.06 678.95 Td (misconduct, ) Tj ET Q q 0 0 0 rg BT 373.48 678.95 Td (and ) Tj ET Q q 0 0 0 rg BT 390.90 678.95 Td (human ) Tj ET Q q 0 0 0 rg BT 420.82 678.95 Td (or ) Tj ET Q q 0 0 0 rg BT 431.22 678.95 Td (technological ) Tj ET Q q 0 0 0 rg BT 486.16 678.95 Td (error) Tj ET Q q 0 0 0 rg BT 504.67 678.95 Td (. ) Tj ET Q q 0 0 0 rg BT 509.57 678.95 Td (Our ) Tj ET Q q 0 0 0 rg BT 526.97 678.95 Td (business ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 665.45 Td (could ) Tj ET Q q 0 0 0 rg BT 96.83 665.45 Td (be ) Tj ET Q q 0 0 0 rg BT 110.16 665.45 Td (negatively ) Tj ET Q q 0 0 0 rg BT 154.00 665.45 Td (impacted ) Tj ET Q q 0 0 0 rg BT 193.84 665.45 Td (by ) Tj ET Q q 0 0 0 rg BT 206.66 665.45 Td (these ) Tj ET Q q 0 0 0 rg BT 232.00 665.45 Td (physical ) Tj ET Q q 0 0 0 rg BT 267.83 665.45 Td (and ) Tj ET Q q 0 0 0 rg BT 286.16 665.45 Td (cybersecurity ) Tj ET Q q 0 0 0 rg BT 342.50 665.45 Td (threats, ) Tj ET Q q 0 0 0 rg BT 375.83 665.45 Td (and ) Tj ET Q q 0 0 0 rg BT 394.16 665.45 Td (could ) Tj ET Q q 0 0 0 rg BT 419.00 665.45 Td (af) Tj ET Q q 0 0 0 rg BT 426.34 665.45 Td (fect ) Tj ET Q q 0 0 0 rg BT 444.16 665.45 Td (our ) Tj ET Q q 0 0 0 rg BT 460.49 665.45 Td (future ) Tj ET Q q 0 0 0 rg BT 486.82 665.45 Td (sales ) Tj ET Q q 0 0 0 rg BT 511.15 665.45 Td (and ) Tj ET Q q 0 0 0 rg BT 529.48 665.45 Td (financial ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 651.95 Td (position ) Tj ET Q q 0 0 0 rg BT 106.36 651.95 Td (or ) Tj ET Q q 0 0 0 rg BT 117.70 651.95 Td (increase ) Tj ET Q q 0 0 0 rg BT 155.06 651.95 Td (our ) Tj ET Q q 0 0 0 rg BT 171.41 651.95 Td (costs ) Tj ET Q q 0 0 0 rg BT 195.76 651.95 Td (and ) Tj ET Q q 0 0 0 rg BT 214.11 651.95 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 258.26 651.95 Td (The ) Tj ET Q q 0 0 0 rg BT 277.11 651.95 Td (risks ) Tj ET Q q 0 0 0 rg BT 298.95 651.95 Td (to ) Tj ET Q q 0 0 0 rg BT 309.80 651.95 Td (the ) Tj ET Q q 0 0 0 rg BT 325.65 651.95 Td (Company ) Tj ET Q q 0 0 0 rg BT 367.51 651.95 Td (include ) Tj ET Q q 0 0 0 rg BT 399.37 651.95 Td (attempted ) Tj ET Q q 0 0 0 rg BT 442.73 651.95 Td (breaches ) Tj ET Q q 0 0 0 rg BT 483.10 651.95 Td (not ) Tj ET Q q 0 0 0 rg BT 498.95 651.95 Td (only ) Tj ET Q q 0 0 0 rg BT 518.80 651.95 Td (of ) Tj ET Q q 0 0 0 rg BT 529.64 651.95 Td (our ) Tj ET Q q 0 0 0 rg BT 545.99 651.95 Td (own ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 638.45 Td (products, ) Tj ET Q q 0 0 0 rg BT 112.22 638.45 Td (services ) Tj ET Q q 0 0 0 rg BT 148.44 638.45 Td (and ) Tj ET Q q 0 0 0 rg BT 166.66 638.45 Td (systems, ) Tj ET Q q 0 0 0 rg BT 205.37 638.45 Td (but ) Tj ET Q q 0 0 0 rg BT 221.08 638.45 Td (also ) Tj ET Q q 0 0 0 rg BT 240.80 638.45 Td (those ) Tj ET Q q 0 0 0 rg BT 266.02 638.45 Td (of ) Tj ET Q q 0 0 0 rg BT 276.73 638.45 Td (our ) Tj ET Q q 0 0 0 rg BT 292.94 638.45 Td (customers, ) Tj ET Q q 0 0 0 rg BT 340.16 638.45 Td (contractors, ) Tj ET Q q 0 0 0 rg BT 390.38 638.45 Td (business ) Tj ET Q q 0 0 0 rg BT 429.11 638.45 Td (partners, ) Tj ET Q q 0 0 0 rg BT 467.83 638.45 Td (vendors ) Tj ET Q q 0 0 0 rg BT 503.05 638.45 Td (and ) Tj ET Q q 0 0 0 rg BT 521.27 638.45 Td (other ) Tj ET Q q 0 0 0 rg BT 544.99 638.45 Td (third ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 624.95 Td (parties. ) Tj ET Q q 0 0 0 rg BT 104.16 624.95 Td (W) Tj ET Q q 0 0 0 rg BT 112.49 624.95 Td (e ) Tj ET Q q 0 0 0 rg BT 120.14 624.95 Td (seek ) Tj ET Q q 0 0 0 rg BT 141.79 624.95 Td (to ) Tj ET Q q 0 0 0 rg BT 151.94 624.95 Td (detect ) Tj ET Q q 0 0 0 rg BT 179.10 624.95 Td (and ) Tj ET Q q 0 0 0 rg BT 196.76 624.95 Td (investigate ) Tj ET Q q 0 0 0 rg BT 242.43 624.95 Td (all ) Tj ET Q q 0 0 0 rg BT 254.08 624.95 Td (security ) Tj ET Q q 0 0 0 rg BT 287.73 624.95 Td (incidents ) Tj ET Q q 0 0 0 rg BT 325.90 624.95 Td (and ) Tj ET Q q 0 0 0 rg BT 343.56 624.95 Td (to ) Tj ET Q q 0 0 0 rg BT 353.71 624.95 Td (prevent ) Tj ET Q q 0 0 0 rg BT 386.37 624.95 Td (their ) Tj ET Q q 0 0 0 rg BT 406.52 624.95 Td (occurrence ) Tj ET Q q 0 0 0 rg BT 453.68 624.95 Td (or ) Tj ET Q q 0 0 0 rg BT 464.33 624.95 Td (recurrence. ) Tj ET Q q 0 0 0 rg BT 512.49 624.95 Td (W) Tj ET Q q 0 0 0 rg BT 520.82 624.95 Td (e ) Tj ET Q q 0 0 0 rg BT 528.47 624.95 Td (continue ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 611.45 Td (to ) Tj ET Q q 0 0 0 rg BT 81.13 611.45 Td (invest ) Tj ET Q q 0 0 0 rg BT 106.27 611.45 Td (in ) Tj ET Q q 0 0 0 rg BT 114.90 611.45 Td (and ) Tj ET Q q 0 0 0 rg BT 131.54 611.45 Td (improve ) Tj ET Q q 0 0 0 rg BT 165.17 611.45 Td (our ) Tj ET Q q 0 0 0 rg BT 179.81 611.45 Td (threat ) Tj ET Q q 0 0 0 rg BT 204.44 611.45 Td (protection, ) Tj ET Q q 0 0 0 rg BT 248.09 611.45 Td (detection ) Tj ET Q q 0 0 0 rg BT 286.25 611.45 Td (and ) Tj ET Q q 0 0 0 rg BT 302.89 611.45 Td (mitigation ) Tj ET Q q 0 0 0 rg BT 343.03 611.45 Td (policies, ) Tj ET Q q 0 0 0 rg BT 377.17 611.45 Td (procedures ) Tj ET Q q 0 0 0 rg BT 423.82 611.45 Td (and ) Tj ET Q q 0 0 0 rg BT 440.46 611.45 Td (controls, ) Tj ET Q q 0 0 0 rg BT 476.10 611.45 Td (and ) Tj ET Q q 0 0 0 rg BT 492.74 611.45 Td (work ) Tj ET Q q 0 0 0 rg BT 513.37 611.45 Td (with ) Tj ET Q q 0 0 0 rg BT 531.00 611.45 Td (industry ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 597.95 Td (and ) Tj ET Q q 0 0 0 rg BT 89.39 597.95 Td (government ) Tj ET Q q 0 0 0 rg BT 139.29 597.95 Td (on ) Tj ET Q q 0 0 0 rg BT 151.67 597.95 Td (increased ) Tj ET Q q 0 0 0 rg BT 193.07 597.95 Td (awareness ) Tj ET Q q 0 0 0 rg BT 238.96 597.95 Td (and ) Tj ET Q q 0 0 0 rg BT 256.35 597.95 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 298.26 597.95 Td (protections ) Tj ET Q q 0 0 0 rg BT 344.66 597.95 Td (against ) Tj ET Q q 0 0 0 rg BT 376.05 597.95 Td (cybersecurity ) Tj ET Q q 0 0 0 rg BT 431.44 597.95 Td (threats. ) Tj ET Q q 0 0 0 rg BT 463.82 597.95 Td (However) Tj ET Q q 0 0 0 rg BT 498.84 597.95 Td (, ) Tj ET Q q 0 0 0 rg BT 503.71 597.95 Td (because ) Tj ET Q q 0 0 0 rg BT 540.11 597.95 Td (of ) Tj ET Q q 0 0 0 rg BT 549.99 597.95 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 584.45 Td (evolving ) Tj ET Q q 0 0 0 rg BT 107.78 584.45 Td (nature ) Tj ET Q q 0 0 0 rg BT 136.06 584.45 Td (and ) Tj ET Q q 0 0 0 rg BT 153.84 584.45 Td (sophistication ) Tj ET Q q 0 0 0 rg BT 211.13 584.45 Td (of ) Tj ET Q q 0 0 0 rg BT 221.40 584.45 Td (these ) Tj ET Q q 0 0 0 rg BT 246.18 584.45 Td (security ) Tj ET Q q 0 0 0 rg BT 279.95 584.45 Td (threats, ) Tj ET Q q 0 0 0 rg BT 312.73 584.45 Td (there ) Tj ET Q q 0 0 0 rg BT 336.00 584.45 Td (can ) Tj ET Q q 0 0 0 rg BT 353.27 584.45 Td (be ) Tj ET Q q 0 0 0 rg BT 366.05 584.45 Td (no ) Tj ET Q q 0 0 0 rg BT 378.82 584.45 Td (assurance ) Tj ET Q q 0 0 0 rg BT 423.10 584.45 Td (that ) Tj ET Q q 0 0 0 rg BT 440.88 584.45 Td (we ) Tj ET Q q 0 0 0 rg BT 455.14 584.45 Td (can ) Tj ET Q q 0 0 0 rg BT 472.42 584.45 Td (detect ) Tj ET Q q 0 0 0 rg BT 499.70 584.45 Td (or ) Tj ET Q q 0 0 0 rg BT 510.46 584.45 Td (prevent ) Tj ET Q q 0 0 0 rg BT 543.24 584.45 Td (all ) Tj ET Q q 0 0 0 rg BT 555.01 584.45 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 570.95 Td (these ) Tj ET Q q 0 0 0 rg BT 96.89 570.95 Td (threats. ) Tj ET Q q 0 0 0 rg BT 129.21 570.95 Td (As ) Tj ET Q q 0 0 0 rg BT 142.58 570.95 Td (the ) Tj ET Q q 0 0 0 rg BT 157.97 570.95 Td (cybersecurity ) Tj ET Q q 0 0 0 rg BT 213.86 570.95 Td (landscape ) Tj ET Q q 0 0 0 rg BT 257.76 570.95 Td (evolves, ) Tj ET Q q 0 0 0 rg BT 293.65 570.95 Td (the ) Tj ET Q q 0 0 0 rg BT 309.03 570.95 Td (Company ) Tj ET Q q 0 0 0 rg BT 350.42 570.95 Td (may ) Tj ET Q q 0 0 0 rg BT 370.30 570.95 Td (also ) Tj ET Q q 0 0 0 rg BT 389.68 570.95 Td (find ) Tj ET Q q 0 0 0 rg BT 407.07 570.95 Td (it ) Tj ET Q q 0 0 0 rg BT 414.44 570.95 Td (necessary ) Tj ET Q q 0 0 0 rg BT 458.33 570.95 Td (to ) Tj ET Q q 0 0 0 rg BT 468.71 570.95 Td (make ) Tj ET Q q 0 0 0 rg BT 493.59 570.95 Td (significant ) Tj ET Q q 0 0 0 rg BT 536.49 570.95 Td (further ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 557.45 Td (investments ) Tj ET Q q 0 0 0 rg BT 122.38 557.45 Td (to ) Tj ET Q q 0 0 0 rg BT 132.24 557.45 Td (protect ) Tj ET Q q 0 0 0 rg BT 162.12 557.45 Td (data ) Tj ET Q q 0 0 0 rg BT 181.99 557.45 Td (and ) Tj ET Q q 0 0 0 rg BT 199.37 557.45 Td (infrastructure. ) Tj ET Q q 0 0 0 rg BT 256.74 557.45 Td (Occurrence ) Tj ET Q q 0 0 0 rg BT 305.62 557.45 Td (of ) Tj ET Q q 0 0 0 rg BT 315.48 557.45 Td (any ) Tj ET Q q 0 0 0 rg BT 332.35 557.45 Td (of ) Tj ET Q q 0 0 0 rg BT 342.22 557.45 Td (these ) Tj ET Q q 0 0 0 rg BT 366.59 557.45 Td (aforementioned ) Tj ET Q q 0 0 0 rg BT 431.50 557.45 Td (security ) Tj ET Q q 0 0 0 rg BT 464.86 557.45 Td (threats ) Tj ET Q q 0 0 0 rg BT 494.74 557.45 Td (could ) Tj ET Q q 0 0 0 rg BT 518.61 557.45 Td (expose ) Tj ET Q q 0 0 0 rg BT 549.99 557.45 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 543.95 Td (Company) Tj ET Q q 0 0 0 rg BT 109.85 543.95 Td (, ) Tj ET Q q 0 0 0 rg BT 115.75 543.95 Td (our ) Tj ET Q q 0 0 0 rg BT 132.16 543.95 Td (customers ) Tj ET Q q 0 0 0 rg BT 177.07 543.95 Td (or ) Tj ET Q q 0 0 0 rg BT 188.47 543.95 Td (other ) Tj ET Q q 0 0 0 rg BT 212.39 543.95 Td (third ) Tj ET Q q 0 0 0 rg BT 233.30 543.95 Td (parties ) Tj ET Q q 0 0 0 rg BT 263.71 543.95 Td (to ) Tj ET Q q 0 0 0 rg BT 274.62 543.95 Td (potential ) Tj ET Q q 0 0 0 rg BT 312.04 543.95 Td (liability) Tj ET Q q 0 0 0 rg BT 338.38 543.95 Td (, ) Tj ET Q q 0 0 0 rg BT 344.28 543.95 Td (litigation, ) Tj ET Q q 0 0 0 rg BT 383.21 543.95 Td (and ) Tj ET Q q 0 0 0 rg BT 401.62 543.95 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 445.04 543.95 Td (action, ) Tj ET Q q 0 0 0 rg BT 474.96 543.95 Td (as ) Tj ET Q q 0 0 0 rg BT 487.87 543.95 Td (well ) Tj ET Q q 0 0 0 rg BT 506.77 543.95 Td (as ) Tj ET Q q 0 0 0 rg BT 519.68 543.95 Td (the ) Tj ET Q q 0 0 0 rg BT 535.59 543.95 Td (loss ) Tj ET Q q 0 0 0 rg BT 554.99 543.95 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 530.45 Td (customer ) Tj ET Q q 0 0 0 rg BT 111.78 530.45 Td (confidence, ) Tj ET Q q 0 0 0 rg BT 160.58 530.45 Td (loss ) Tj ET Q q 0 0 0 rg BT 179.35 530.45 Td (of ) Tj ET Q q 0 0 0 rg BT 189.62 530.45 Td (existing ) Tj ET Q q 0 0 0 rg BT 222.90 530.45 Td (or ) Tj ET Q q 0 0 0 rg BT 233.67 530.45 Td (potential ) Tj ET Q q 0 0 0 rg BT 270.47 530.45 Td (customers, ) Tj ET Q q 0 0 0 rg BT 317.24 530.45 Td (loss ) Tj ET Q q 0 0 0 rg BT 336.01 530.45 Td (of ) Tj ET Q q 0 0 0 rg BT 346.29 530.45 Td (sensitive ) Tj ET Q q 0 0 0 rg BT 384.07 530.45 Td (government ) Tj ET Q q 0 0 0 rg BT 434.36 530.45 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 476.14 530.45 Td (damage ) Tj ET Q q 0 0 0 rg BT 511.43 530.45 Td (to ) Tj ET Q q 0 0 0 rg BT 521.71 530.45 Td (brand ) Tj ET Q q 0 0 0 rg BT 547.49 530.45 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 516.95 Td (reputation, ) Tj ET Q q 0 0 0 rg BT 117.03 516.95 Td (and ) Tj ET Q q 0 0 0 rg BT 134.55 516.95 Td (other ) Tj ET Q q 0 0 0 rg BT 157.56 516.95 Td (financial ) Tj ET Q q 0 0 0 rg BT 193.08 516.95 Td (loss.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 492.866796875 m 192.0556640625 492.866796875 l s q 0 0 0 rg BT 73.50 494.15 Td (Risk ) Tj ET Q q 0 0 0 rg BT 93.50 494.15 Td (of ) Tj ET Q q 0 0 0 rg BT 103.51 494.15 Td (harm ) Tj ET Q q 0 0 0 rg BT 126.51 494.15 Td (to ) Tj ET Q q 0 0 0 rg BT 136.52 494.15 Td (our ) Tj ET Q q 0 0 0 rg BT 152.03 494.15 Td (reputation) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 477.65 Td (CGI) Tj ET Q q 0 0 0 rg BT 89.84 477.65 Td (s ) Tj ET Q q 0 0 0 rg BT 96.43 477.65 Td (reputation ) Tj ET Q q 0 0 0 rg BT 138.56 477.65 Td (as ) Tj ET Q q 0 0 0 rg BT 150.16 477.65 Td (a ) Tj ET Q q 0 0 0 rg BT 157.26 477.65 Td (capable ) Tj ET Q q 0 0 0 rg BT 190.89 477.65 Td (and ) Tj ET Q q 0 0 0 rg BT 208.00 477.65 Td (trustworthy ) Tj ET Q q 0 0 0 rg BT 254.10 477.65 Td (service ) Tj ET Q q 0 0 0 rg BT 284.71 477.65 Td (provider ) Tj ET Q q 0 0 0 rg BT 319.32 477.65 Td (and ) Tj ET Q q 0 0 0 rg BT 336.43 477.65 Td (long ) Tj ET Q q 0 0 0 rg BT 355.54 477.65 Td (term ) Tj ET Q q 0 0 0 rg BT 375.64 477.65 Td (business ) Tj ET Q q 0 0 0 rg BT 413.26 477.65 Td (partner ) Tj ET Q q 0 0 0 rg BT 443.87 477.65 Td (is ) Tj ET Q q 0 0 0 rg BT 452.47 477.65 Td (key ) Tj ET Q q 0 0 0 rg BT 468.57 477.65 Td (to ) Tj ET Q q 0 0 0 rg BT 478.17 477.65 Td (our ) Tj ET Q q 0 0 0 rg BT 493.27 477.65 Td (ability ) Tj ET Q q 0 0 0 rg BT 518.38 477.65 Td (to ) Tj ET Q q 0 0 0 rg BT 527.98 477.65 Td (compete ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 464.15 Td (ef) Tj ET Q q 0 0 0 rg BT 79.34 464.15 Td (fectively ) Tj ET Q q 0 0 0 rg BT 114.53 464.15 Td (in ) Tj ET Q q 0 0 0 rg BT 124.20 464.15 Td (the ) Tj ET Q q 0 0 0 rg BT 139.38 464.15 Td (market ) Tj ET Q q 0 0 0 rg BT 169.56 464.15 Td (for ) Tj ET Q q 0 0 0 rg BT 182.74 464.15 Td (IT) Tj ET Q q 0 0 0 rg BT 190.57 464.15 Td ( ) Tj ET Q q 0 0 0 rg BT 193.24 464.15 Td (services. ) Tj ET Q q 0 0 0 rg BT 231.25 464.15 Td (The ) Tj ET Q q 0 0 0 rg BT 249.43 464.15 Td (nature ) Tj ET Q q 0 0 0 rg BT 277.62 464.15 Td (of ) Tj ET Q q 0 0 0 rg BT 287.79 464.15 Td (our ) Tj ET Q q 0 0 0 rg BT 303.47 464.15 Td (operations ) Tj ET Q q 0 0 0 rg BT 348.17 464.15 Td (exposes ) Tj ET Q q 0 0 0 rg BT 384.37 464.15 Td (us ) Tj ET Q q 0 0 0 rg BT 396.54 464.15 Td (to ) Tj ET Q q 0 0 0 rg BT 406.72 464.15 Td (the ) Tj ET Q q 0 0 0 rg BT 421.90 464.15 Td (potential ) Tj ET Q q 0 0 0 rg BT 458.60 464.15 Td (loss, ) Tj ET Q q 0 0 0 rg BT 479.78 464.15 Td (unauthorized ) Tj ET Q q 0 0 0 rg BT 534.49 464.15 Td (access ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 450.65 Td (to, ) Tj ET Q q 0 0 0 rg BT 85.71 450.65 Td (or ) Tj ET Q q 0 0 0 rg BT 97.41 450.65 Td (destruction ) Tj ET Q q 0 0 0 rg BT 145.13 450.65 Td (of ) Tj ET Q q 0 0 0 rg BT 156.34 450.65 Td (our ) Tj ET Q q 0 0 0 rg BT 173.04 450.65 Td (clients) Tj ET Q q 0 0 0 rg BT 200.22 450.65 Td ( ) Tj ET Q q 0 0 0 rg BT 203.92 450.65 Td (information, ) Tj ET Q q 0 0 0 rg BT 254.64 450.65 Td (as ) Tj ET Q q 0 0 0 rg BT 267.84 450.65 Td (well ) Tj ET Q q 0 0 0 rg BT 287.05 450.65 Td (as ) Tj ET Q q 0 0 0 rg BT 300.25 450.65 Td (temporary ) Tj ET Q q 0 0 0 rg BT 344.46 450.65 Td (service ) Tj ET Q q 0 0 0 rg BT 376.67 450.65 Td (interruptions. ) Tj ET Q q 0 0 0 rg BT 432.40 450.65 Td (Depending ) Tj ET Q q 0 0 0 rg BT 479.63 450.65 Td (on ) Tj ET Q q 0 0 0 rg BT 493.34 450.65 Td (the ) Tj ET Q q 0 0 0 rg BT 509.55 450.65 Td (nature ) Tj ET Q q 0 0 0 rg BT 538.77 450.65 Td (of ) Tj ET Q q 0 0 0 rg BT 549.98 450.65 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 437.15 Td (information ) Tj ET Q q 0 0 0 rg BT 118.43 437.15 Td (or ) Tj ET Q q 0 0 0 rg BT 128.34 437.15 Td (services, ) Tj ET Q q 0 0 0 rg BT 165.76 437.15 Td (such ) Tj ET Q q 0 0 0 rg BT 186.67 437.15 Td (events ) Tj ET Q q 0 0 0 rg BT 215.10 437.15 Td (may ) Tj ET Q q 0 0 0 rg BT 234.01 437.15 Td (have ) Tj ET Q q 0 0 0 rg BT 255.43 437.15 Td (a ) Tj ET Q q 0 0 0 rg BT 262.35 437.15 Td (negative ) Tj ET Q q 0 0 0 rg BT 298.28 437.15 Td (impact ) Tj ET Q q 0 0 0 rg BT 326.70 437.15 Td (on ) Tj ET Q q 0 0 0 rg BT 338.62 437.15 Td (how ) Tj ET Q q 0 0 0 rg BT 357.04 437.15 Td (the ) Tj ET Q q 0 0 0 rg BT 371.46 437.15 Td (Company ) Tj ET Q q 0 0 0 rg BT 411.88 437.15 Td (is ) Tj ET Q q 0 0 0 rg BT 420.29 437.15 Td (perceived ) Tj ET Q q 0 0 0 rg BT 461.22 437.15 Td (in ) Tj ET Q q 0 0 0 rg BT 470.13 437.15 Td (the ) Tj ET Q q 0 0 0 rg BT 484.55 437.15 Td (marketplace. ) Tj ET Q q 0 0 0 rg BT 537.98 437.15 Td (Under ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 423.65 Td (such ) Tj ET Q q 0 0 0 rg BT 94.14 423.65 Td (circumstances, ) Tj ET Q q 0 0 0 rg BT 157.28 423.65 Td (our ) Tj ET Q q 0 0 0 rg BT 173.42 423.65 Td (ability ) Tj ET Q q 0 0 0 rg BT 199.56 423.65 Td (to ) Tj ET Q q 0 0 0 rg BT 210.19 423.65 Td (obtain ) Tj ET Q q 0 0 0 rg BT 237.84 423.65 Td (new ) Tj ET Q q 0 0 0 rg BT 257.48 423.65 Td (clients ) Tj ET Q q 0 0 0 rg BT 286.12 423.65 Td (and ) Tj ET Q q 0 0 0 rg BT 304.26 423.65 Td (retain ) Tj ET Q q 0 0 0 rg BT 329.90 423.65 Td (existing ) Tj ET Q q 0 0 0 rg BT 363.54 423.65 Td (clients ) Tj ET Q q 0 0 0 rg BT 392.18 423.65 Td (could ) Tj ET Q q 0 0 0 rg BT 416.83 423.65 Td (suf) Tj ET Q q 0 0 0 rg BT 428.67 423.65 Td (fer ) Tj ET Q q 0 0 0 rg BT 442.30 423.65 Td (with ) Tj ET Q q 0 0 0 rg BT 461.43 423.65 Td (a ) Tj ET Q q 0 0 0 rg BT 469.57 423.65 Td (resulting ) Tj ET Q q 0 0 0 rg BT 506.71 423.65 Td (impact ) Tj ET Q q 0 0 0 rg BT 536.35 423.65 Td (on ) Tj ET Q q 0 0 0 rg BT 549.49 423.65 Td (our ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 410.15 Td (revenue ) Tj ET Q q 0 0 0 rg BT 107.02 410.15 Td (and ) Tj ET Q q 0 0 0 rg BT 124.54 410.15 Td (net ) Tj ET Q q 0 0 0 rg BT 139.55 410.15 Td (earnings.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 389.066796875 m 292.6201171875 389.066796875 l s q 0 0 0 rg BT 73.50 390.35 Td (Risks ) Tj ET Q q 0 0 0 rg BT 98.00 390.35 Td (associated ) Tj ET Q q 0 0 0 rg BT 143.53 390.35 Td (with ) Tj ET Q q 0 0 0 rg BT 162.03 390.35 Td (the ) Tj ET Q q 0 0 0 rg BT 177.04 390.35 Td (integration ) Tj ET Q q 0 0 0 rg BT 221.57 390.35 Td (of ) Tj ET Q q 0 0 0 rg BT 231.58 390.35 Td (new ) Tj ET Q q 0 0 0 rg BT 250.59 390.35 Td (operations) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 373.85 Td (The ) Tj ET Q q 0 0 0 rg BT 89.46 373.85 Td (successful ) Tj ET Q q 0 0 0 rg BT 133.43 373.85 Td (integration ) Tj ET Q q 0 0 0 rg BT 177.42 373.85 Td (of ) Tj ET Q q 0 0 0 rg BT 186.88 373.85 Td (new ) Tj ET Q q 0 0 0 rg BT 205.34 373.85 Td (operations ) Tj ET Q q 0 0 0 rg BT 249.33 373.85 Td (arising ) Tj ET Q q 0 0 0 rg BT 277.79 373.85 Td (from ) Tj ET Q q 0 0 0 rg BT 297.75 373.85 Td (our ) Tj ET Q q 0 0 0 rg BT 312.71 373.85 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 357.19 373.85 Td (strategy ) Tj ET Q q 0 0 0 rg BT 391.16 373.85 Td (or ) Tj ET Q q 0 0 0 rg BT 401.12 373.85 Td (from ) Tj ET Q q 0 0 0 rg BT 421.07 373.85 Td (large ) Tj ET Q q 0 0 0 rg BT 443.04 373.85 Td (outsourcing ) Tj ET Q q 0 0 0 rg BT 491.52 373.85 Td (contracts ) Tj ET Q q 0 0 0 rg BT 529.99 373.85 Td (requires ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 360.35 Td (that ) Tj ET Q q 0 0 0 rg BT 88.72 360.35 Td (a ) Tj ET Q q 0 0 0 rg BT 95.43 360.35 Td (substantial ) Tj ET Q q 0 0 0 rg BT 140.16 360.35 Td (amount ) Tj ET Q q 0 0 0 rg BT 171.89 360.35 Td (of ) Tj ET Q q 0 0 0 rg BT 181.10 360.35 Td (management ) Tj ET Q q 0 0 0 rg BT 235.33 360.35 Td (time ) Tj ET Q q 0 0 0 rg BT 254.04 360.35 Td (and ) Tj ET Q q 0 0 0 rg BT 270.76 360.35 Td (attention ) Tj ET Q q 0 0 0 rg BT 307.00 360.35 Td (be ) Tj ET Q q 0 0 0 rg BT 318.71 360.35 Td (focused ) Tj ET Q q 0 0 0 rg BT 351.94 360.35 Td (on ) Tj ET Q q 0 0 0 rg BT 363.66 360.35 Td (integration ) Tj ET Q q 0 0 0 rg BT 407.39 360.35 Td (tasks. ) Tj ET Q q 0 0 0 rg BT 432.60 360.35 Td (Management ) Tj ET Q q 0 0 0 rg BT 486.84 360.35 Td (time ) Tj ET Q q 0 0 0 rg BT 505.55 360.35 Td (that ) Tj ET Q q 0 0 0 rg BT 522.27 360.35 Td (is ) Tj ET Q q 0 0 0 rg BT 530.47 360.35 Td (devoted ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 346.85 Td (to ) Tj ET Q q 0 0 0 rg BT 81.66 346.85 Td (integration ) Tj ET Q q 0 0 0 rg BT 125.84 346.85 Td (activities ) Tj ET Q q 0 0 0 rg BT 162.50 346.85 Td (may ) Tj ET Q q 0 0 0 rg BT 181.65 346.85 Td (detract ) Tj ET Q q 0 0 0 rg BT 211.32 346.85 Td (from ) Tj ET Q q 0 0 0 rg BT 231.47 346.85 Td (management) Tj ET Q q 0 0 0 rg BT 285.84 346.85 Td (s ) Tj ET Q q 0 0 0 rg BT 292.49 346.85 Td (normal ) Tj ET Q q 0 0 0 rg BT 322.15 346.85 Td (operations ) Tj ET Q q 0 0 0 rg BT 366.33 346.85 Td (focus ) Tj ET Q q 0 0 0 rg BT 390.00 346.85 Td (with ) Tj ET Q q 0 0 0 rg BT 408.15 346.85 Td (resulting ) Tj ET Q q 0 0 0 rg BT 444.32 346.85 Td (pressure ) Tj ET Q q 0 0 0 rg BT 481.49 346.85 Td (on ) Tj ET Q q 0 0 0 rg BT 493.65 346.85 Td (the ) Tj ET Q q 0 0 0 rg BT 508.31 346.85 Td (revenues ) Tj ET Q q 0 0 0 rg BT 547.49 346.85 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 333.35 Td (earnings ) Tj ET Q q 0 0 0 rg BT 110.54 333.35 Td (from ) Tj ET Q q 0 0 0 rg BT 132.56 333.35 Td (our ) Tj ET Q q 0 0 0 rg BT 149.58 333.35 Td (existing ) Tj ET Q q 0 0 0 rg BT 184.12 333.35 Td (operations. ) Tj ET Q q 0 0 0 rg BT 232.66 333.35 Td (In ) Tj ET Q q 0 0 0 rg BT 244.19 333.35 Td (addition, ) Tj ET Q q 0 0 0 rg BT 282.23 333.35 Td (we ) Tj ET Q q 0 0 0 rg BT 297.75 333.35 Td (may ) Tj ET Q q 0 0 0 rg BT 318.77 333.35 Td (face ) Tj ET Q q 0 0 0 rg BT 339.80 333.35 Td (complex ) Tj ET Q q 0 0 0 rg BT 377.33 333.35 Td (and ) Tj ET Q q 0 0 0 rg BT 396.36 333.35 Td (potentially ) Tj ET Q q 0 0 0 rg BT 440.91 333.35 Td (time-consuming ) Tj ET Q q 0 0 0 rg BT 508.45 333.35 Td (challenges ) Tj ET Q q 0 0 0 rg BT 555.49 333.35 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 319.85 Td (implementing ) Tj ET Q q 0 0 0 rg BT 128.51 319.85 Td (the ) Tj ET Q q 0 0 0 rg BT 144.00 319.85 Td (uniform ) Tj ET Q q 0 0 0 rg BT 177.00 319.85 Td (standards, ) Tj ET Q q 0 0 0 rg BT 222.01 319.85 Td (controls, ) Tj ET Q q 0 0 0 rg BT 259.00 319.85 Td (procedures ) Tj ET Q q 0 0 0 rg BT 307.02 319.85 Td (and ) Tj ET Q q 0 0 0 rg BT 325.02 319.85 Td (policies ) Tj ET Q q 0 0 0 rg BT 358.01 319.85 Td (across ) Tj ET Q q 0 0 0 rg BT 387.51 319.85 Td (new ) Tj ET Q q 0 0 0 rg BT 407.00 319.85 Td (operations ) Tj ET Q q 0 0 0 rg BT 452.01 319.85 Td (to ) Tj ET Q q 0 0 0 rg BT 462.50 319.85 Td (harmonize ) Tj ET Q q 0 0 0 rg BT 507.51 319.85 Td (their ) Tj ET Q q 0 0 0 rg BT 528.00 319.85 Td (activities ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 306.35 Td (with ) Tj ET Q q 0 0 0 rg BT 90.05 306.35 Td (those ) Tj ET Q q 0 0 0 rg BT 114.11 306.35 Td (of ) Tj ET Q q 0 0 0 rg BT 123.66 306.35 Td (our ) Tj ET Q q 0 0 0 rg BT 138.71 306.35 Td (existing ) Tj ET Q q 0 0 0 rg BT 171.28 306.35 Td (business ) Tj ET Q q 0 0 0 rg BT 208.84 306.35 Td (units. ) Tj ET Q q 0 0 0 rg BT 232.40 306.35 Td (Integration ) Tj ET Q q 0 0 0 rg BT 276.97 306.35 Td (activities ) Tj ET Q q 0 0 0 rg BT 313.53 306.35 Td (can ) Tj ET Q q 0 0 0 rg BT 330.08 306.35 Td (result ) Tj ET Q q 0 0 0 rg BT 354.14 306.35 Td (in ) Tj ET Q q 0 0 0 rg BT 363.19 306.35 Td (unanticipated ) Tj ET Q q 0 0 0 rg BT 418.77 306.35 Td (operational ) Tj ET Q q 0 0 0 rg BT 465.35 306.35 Td (problems, ) Tj ET Q q 0 0 0 rg BT 506.91 306.35 Td (expenses ) Tj ET Q q 0 0 0 rg BT 547.49 306.35 Td (and ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 292.85 Td (liabilities. ) Tj ET Q q 0 0 0 rg BT 111.20 292.85 Td (If ) Tj ET Q q 0 0 0 rg BT 118.88 292.85 Td (we ) Tj ET Q q 0 0 0 rg BT 133.06 292.85 Td (are ) Tj ET Q q 0 0 0 rg BT 148.75 292.85 Td (not ) Tj ET Q q 0 0 0 rg BT 163.94 292.85 Td (successful ) Tj ET Q q 0 0 0 rg BT 208.64 292.85 Td (in ) Tj ET Q q 0 0 0 rg BT 218.33 292.85 Td (executing ) Tj ET Q q 0 0 0 rg BT 259.54 292.85 Td (our ) Tj ET Q q 0 0 0 rg BT 275.23 292.85 Td (integration ) Tj ET Q q 0 0 0 rg BT 319.94 292.85 Td (strategies ) Tj ET Q q 0 0 0 rg BT 361.64 292.85 Td (in ) Tj ET Q q 0 0 0 rg BT 371.32 292.85 Td (a ) Tj ET Q q 0 0 0 rg BT 379.01 292.85 Td (timely ) Tj ET Q q 0 0 0 rg BT 405.19 292.85 Td (and ) Tj ET Q q 0 0 0 rg BT 422.89 292.85 Td (cost-ef) Tj ET Q q 0 0 0 rg BT 449.73 292.85 Td (fective ) Tj ET Q q 0 0 0 rg BT 478.43 292.85 Td (manner) Tj ET Q q 0 0 0 rg BT 508.45 292.85 Td (, ) Tj ET Q q 0 0 0 rg BT 513.63 292.85 Td (we ) Tj ET Q q 0 0 0 rg BT 527.81 292.85 Td (will ) Tj ET Q q 0 0 0 rg BT 542.99 292.85 Td (have ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 279.35 Td (dif) Tj ET Q q 0 0 0 rg BT 81.34 279.35 Td (ficulty ) Tj ET Q q 0 0 0 rg BT 106.85 279.35 Td (achieving ) Tj ET Q q 0 0 0 rg BT 147.38 279.35 Td (our ) Tj ET Q q 0 0 0 rg BT 162.88 279.35 Td (growth ) Tj ET Q q 0 0 0 rg BT 192.40 279.35 Td (and ) Tj ET Q q 0 0 0 rg BT 209.91 279.35 Td (profitability ) Tj ET Q q 0 0 0 rg BT 255.43 279.35 Td (objectives.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 255.56679687500002 m 158.52978515625 255.56679687500002 l s q 0 0 0 rg BT 73.50 256.85 Td (Internal ) Tj ET Q q 0 0 0 rg BT 106.02 256.85 Td (controls ) Tj ET Q q 0 0 0 rg BT 140.03 256.85 Td (risks) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 240.35 Td (Due ) Tj ET Q q 0 0 0 rg BT 90.50 240.35 Td (to ) Tj ET Q q 0 0 0 rg BT 99.99 240.35 Td (the ) Tj ET Q q 0 0 0 rg BT 114.49 240.35 Td (inherent ) Tj ET Q q 0 0 0 rg BT 149.00 240.35 Td (limitations ) Tj ET Q q 0 0 0 rg BT 191.00 240.35 Td (of ) Tj ET Q q 0 0 0 rg BT 200.50 240.35 Td (internal ) Tj ET Q q 0 0 0 rg BT 232.00 240.35 Td (controls ) Tj ET Q q 0 0 0 rg BT 265.50 240.35 Td (including ) Tj ET Q q 0 0 0 rg BT 303.02 240.35 Td (the ) Tj ET Q q 0 0 0 rg BT 317.52 240.35 Td (circumvention ) Tj ET Q q 0 0 0 rg BT 375.02 240.35 Td (or ) Tj ET Q q 0 0 0 rg BT 385.01 240.35 Td (overriding ) Tj ET Q q 0 0 0 rg BT 426.52 240.35 Td (of ) Tj ET Q q 0 0 0 rg BT 436.02 240.35 Td (controls, ) Tj ET Q q 0 0 0 rg BT 472.02 240.35 Td (or ) Tj ET Q q 0 0 0 rg BT 482.01 240.35 Td (fraud, ) Tj ET Q q 0 0 0 rg BT 507.01 240.35 Td (there ) Tj ET Q q 0 0 0 rg BT 529.51 240.35 Td (can ) Tj ET Q q 0 0 0 rg BT 546.01 240.35 Td (only ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 226.85 Td (be ) Tj ET Q q 0 0 0 rg BT 85.27 226.85 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 133.06 226.85 Td (assurance ) Tj ET Q q 0 0 0 rg BT 177.85 226.85 Td (that ) Tj ET Q q 0 0 0 rg BT 196.12 226.85 Td (the ) Tj ET Q q 0 0 0 rg BT 211.89 226.85 Td (Company) Tj ET Q q 0 0 0 rg BT 252.25 226.85 Td (s ) Tj ET Q q 0 0 0 rg BT 260.01 226.85 Td (internal ) Tj ET Q q 0 0 0 rg BT 292.78 226.85 Td (controls ) Tj ET Q q 0 0 0 rg BT 327.56 226.85 Td (will ) Tj ET Q q 0 0 0 rg BT 343.31 226.85 Td (detect ) Tj ET Q q 0 0 0 rg BT 371.09 226.85 Td (and ) Tj ET Q q 0 0 0 rg BT 389.37 226.85 Td (prevent ) Tj ET Q q 0 0 0 rg BT 422.65 226.85 Td (a ) Tj ET Q q 0 0 0 rg BT 430.91 226.85 Td (misstatement. ) Tj ET Q q 0 0 0 rg BT 490.19 226.85 Td (If ) Tj ET Q q 0 0 0 rg BT 498.45 226.85 Td (the ) Tj ET Q q 0 0 0 rg BT 514.22 226.85 Td (Company ) Tj ET Q q 0 0 0 rg BT 556.00 226.85 Td (is ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 213.35 Td (unable ) Tj ET Q q 0 0 0 rg BT 101.39 213.35 Td (to ) Tj ET Q q 0 0 0 rg BT 111.25 213.35 Td (design, ) Tj ET Q q 0 0 0 rg BT 142.64 213.35 Td (implement, ) Tj ET Q q 0 0 0 rg BT 189.01 213.35 Td (monitor ) Tj ET Q q 0 0 0 rg BT 221.39 213.35 Td (and ) Tj ET Q q 0 0 0 rg BT 238.76 213.35 Td (maintain ) Tj ET Q q 0 0 0 rg BT 275.14 213.35 Td (ef) Tj ET Q q 0 0 0 rg BT 282.49 213.35 Td (fective ) Tj ET Q q 0 0 0 rg BT 310.86 213.35 Td (internal ) Tj ET Q q 0 0 0 rg BT 342.74 213.35 Td (controls ) Tj ET Q q 0 0 0 rg BT 376.61 213.35 Td (throughout ) Tj ET Q q 0 0 0 rg BT 422.01 213.35 Td (its ) Tj ET Q q 0 0 0 rg BT 433.37 213.35 Td (dif) Tj ET Q q 0 0 0 rg BT 442.71 213.35 Td (ferent ) Tj ET Q q 0 0 0 rg BT 468.09 213.35 Td (business ) Tj ET Q q 0 0 0 rg BT 505.97 213.35 Td (environments, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 199.85 Td (the ) Tj ET Q q 0 0 0 rg BT 86.55 199.85 Td (ef) Tj ET Q q 0 0 0 rg BT 93.89 199.85 Td (ficiency ) Tj ET Q q 0 0 0 rg BT 125.94 199.85 Td (of ) Tj ET Q q 0 0 0 rg BT 135.48 199.85 Td (our ) Tj ET Q q 0 0 0 rg BT 150.52 199.85 Td (operations ) Tj ET Q q 0 0 0 rg BT 194.59 199.85 Td (might ) Tj ET Q q 0 0 0 rg BT 218.64 199.85 Td (suf) Tj ET Q q 0 0 0 rg BT 230.48 199.85 Td (fer) Tj ET Q q 0 0 0 rg BT 240.48 199.85 Td (, ) Tj ET Q q 0 0 0 rg BT 245.02 199.85 Td (resulting ) Tj ET Q q 0 0 0 rg BT 281.08 199.85 Td (in ) Tj ET Q q 0 0 0 rg BT 290.12 199.85 Td (a ) Tj ET Q q 0 0 0 rg BT 297.16 199.85 Td (decline ) Tj ET Q q 0 0 0 rg BT 327.72 199.85 Td (in ) Tj ET Q q 0 0 0 rg BT 336.76 199.85 Td (revenue ) Tj ET Q q 0 0 0 rg BT 371.32 199.85 Td (and ) Tj ET Q q 0 0 0 rg BT 388.37 199.85 Td (profitability) Tj ET Q q 0 0 0 rg BT 430.72 199.85 Td (, ) Tj ET Q q 0 0 0 rg BT 435.26 199.85 Td (and ) Tj ET Q q 0 0 0 rg BT 452.31 199.85 Td (the ) Tj ET Q q 0 0 0 rg BT 466.86 199.85 Td (accuracy ) Tj ET Q q 0 0 0 rg BT 504.91 199.85 Td (of ) Tj ET Q q 0 0 0 rg BT 514.45 199.85 Td (our ) Tj ET Q q 0 0 0 rg BT 529.50 199.85 Td (financial ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 186.35 Td (reporting ) Tj ET Q q 0 0 0 rg BT 110.02 186.35 Td (could ) Tj ET Q q 0 0 0 rg BT 134.04 186.35 Td (be ) Tj ET Q q 0 0 0 rg BT 146.55 186.35 Td (impaired.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 163.55 Td () Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 74.50048828125 162.26679687499995 m 178.06201171875 162.26679687499995 l s q 0 0 0 rg BT 74.50 163.55 Td (Liquidity ) Tj ET Q q 0 0 0 rg BT 110.02 163.55 Td (and ) Tj ET Q q 0 0 0 rg BT 127.54 163.55 Td (funding ) Tj ET Q q 0 0 0 rg BT 159.57 163.55 Td (risks) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 150.05 Td (The ) Tj ET Q q 0 0 0 rg BT 89.69 150.05 Td (Company) Tj ET Q q 0 0 0 rg BT 130.04 150.05 Td (s ) Tj ET Q q 0 0 0 rg BT 136.72 150.05 Td (future ) Tj ET Q q 0 0 0 rg BT 161.91 150.05 Td (growth ) Tj ET Q q 0 0 0 rg BT 191.10 150.05 Td (is ) Tj ET Q q 0 0 0 rg BT 199.78 150.05 Td (contingent ) Tj ET Q q 0 0 0 rg BT 243.49 150.05 Td (on ) Tj ET Q q 0 0 0 rg BT 255.68 150.05 Td (the ) Tj ET Q q 0 0 0 rg BT 270.37 150.05 Td (execution ) Tj ET Q q 0 0 0 rg BT 311.08 150.05 Td (of ) Tj ET Q q 0 0 0 rg BT 320.76 150.05 Td (its ) Tj ET Q q 0 0 0 rg BT 331.94 150.05 Td (business ) Tj ET Q q 0 0 0 rg BT 369.64 150.05 Td (strategy) Tj ET Q q 0 0 0 rg BT 400.98 150.05 Td (, ) Tj ET Q q 0 0 0 rg BT 405.66 150.05 Td (which, ) Tj ET Q q 0 0 0 rg BT 433.35 150.05 Td (in ) Tj ET Q q 0 0 0 rg BT 442.53 150.05 Td (turn, ) Tj ET Q q 0 0 0 rg BT 462.72 150.05 Td (is ) Tj ET Q q 0 0 0 rg BT 471.40 150.05 Td (dependent ) Tj ET Q q 0 0 0 rg BT 516.12 150.05 Td (on ) Tj ET Q q 0 0 0 rg BT 528.31 150.05 Td (its ) Tj ET Q q 0 0 0 rg BT 539.49 150.05 Td (ability ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 136.55 Td (to ) Tj ET Q q 0 0 0 rg BT 82.02 136.55 Td (grow ) Tj ET Q q 0 0 0 rg BT 104.04 136.55 Td (the ) Tj ET Q q 0 0 0 rg BT 119.07 136.55 Td (business ) Tj ET Q q 0 0 0 rg BT 157.10 136.55 Td (organically ) Tj ET Q q 0 0 0 rg BT 202.64 136.55 Td (as ) Tj ET Q q 0 0 0 rg BT 214.66 136.55 Td (well ) Tj ET Q q 0 0 0 rg BT 232.68 136.55 Td (as ) Tj ET Q q 0 0 0 rg BT 244.70 136.55 Td (conclude ) Tj ET Q q 0 0 0 rg BT 283.24 136.55 Td (business ) Tj ET Q q 0 0 0 rg BT 321.27 136.55 Td (acquisitions. ) Tj ET Q q 0 0 0 rg BT 373.31 136.55 Td (By ) Tj ET Q q 0 0 0 rg BT 386.33 136.55 Td (its ) Tj ET Q q 0 0 0 rg BT 397.84 136.55 Td (nature, ) Tj ET Q q 0 0 0 rg BT 428.38 136.55 Td (our ) Tj ET Q q 0 0 0 rg BT 443.90 136.55 Td (growth ) Tj ET Q q 0 0 0 rg BT 473.43 136.55 Td (strategy ) Tj ET Q q 0 0 0 rg BT 507.95 136.55 Td (requires ) Tj ET Q q 0 0 0 rg BT 542.98 136.55 Td (us ) Tj ET Q q 0 0 0 rg BT 555.00 136.55 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 123.05 Td (fund ) Tj ET Q q 0 0 0 rg BT 92.45 123.05 Td (the ) Tj ET Q q 0 0 0 rg BT 107.90 123.05 Td (investments ) Tj ET Q q 0 0 0 rg BT 158.85 123.05 Td (required ) Tj ET Q q 0 0 0 rg BT 194.80 123.05 Td (to ) Tj ET Q q 0 0 0 rg BT 205.24 123.05 Td (be ) Tj ET Q q 0 0 0 rg BT 218.19 123.05 Td (made ) Tj ET Q q 0 0 0 rg BT 243.64 123.05 Td (using ) Tj ET Q q 0 0 0 rg BT 268.09 123.05 Td (a ) Tj ET Q q 0 0 0 rg BT 276.02 123.05 Td (mix ) Tj ET Q q 0 0 0 rg BT 292.96 123.05 Td (of ) Tj ET Q q 0 0 0 rg BT 303.40 123.05 Td (cash ) Tj ET Q q 0 0 0 rg BT 325.34 123.05 Td (generated ) Tj ET Q q 0 0 0 rg BT 368.81 123.05 Td (from ) Tj ET Q q 0 0 0 rg BT 389.74 123.05 Td (our ) Tj ET Q q 0 0 0 rg BT 405.69 123.05 Td (operations, ) Tj ET Q q 0 0 0 rg BT 453.15 123.05 Td (money ) Tj ET Q q 0 0 0 rg BT 483.10 123.05 Td (borrowed ) Tj ET Q q 0 0 0 rg BT 523.55 123.05 Td (under ) Tj ET Q q 0 0 0 rg BT 549.50 123.05 Td (our ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 109.55 Td (existing ) Tj ET Q q 0 0 0 rg BT 106.92 109.55 Td (or ) Tj ET Q q 0 0 0 rg BT 119.32 109.55 Td (future ) Tj ET Q q 0 0 0 rg BT 146.74 109.55 Td (credit ) Tj ET Q q 0 0 0 rg BT 173.15 109.55 Td (agreements, ) Tj ET Q q 0 0 0 rg BT 227.58 109.55 Td (and ) Tj ET Q q 0 0 0 rg BT 246.99 109.55 Td (equity ) Tj ET Q q 0 0 0 rg BT 275.41 109.55 Td (funding ) Tj ET Q q 0 0 0 rg BT 309.34 109.55 Td (generated ) Tj ET Q q 0 0 0 rg BT 354.28 109.55 Td (by ) Tj ET Q q 0 0 0 rg BT 368.19 109.55 Td (the ) Tj ET Q q 0 0 0 rg BT 385.10 109.55 Td (issuance ) Tj ET Q q 0 0 0 rg BT 425.02 109.55 Td (of ) Tj ET Q q 0 0 0 rg BT 436.93 109.55 Td (shares ) Tj ET Q q 0 0 0 rg BT 468.34 109.55 Td (of ) Tj ET Q q 0 0 0 rg BT 480.25 109.55 Td (our ) Tj ET Q q 0 0 0 rg BT 497.66 109.55 Td (share ) Tj ET Q q 0 0 0 rg BT 524.58 109.55 Td (capital ) Tj ET Q q 0 0 0 rg BT 554.99 109.55 Td (to ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 96.05 Td (counterparties ) Tj ET Q q 0 0 0 rg BT 131.86 96.05 Td (in ) Tj ET Q q 0 0 0 rg BT 141.69 96.05 Td (transactions, ) Tj ET Q q 0 0 0 rg BT 195.54 96.05 Td (or ) Tj ET Q q 0 0 0 rg BT 206.38 96.05 Td (to ) Tj ET Q q 0 0 0 rg BT 216.71 96.05 Td (the ) Tj ET Q q 0 0 0 rg BT 232.05 96.05 Td (general ) Tj ET Q q 0 0 0 rg BT 264.90 96.05 Td (public. ) Tj ET Q q 0 0 0 rg BT 293.74 96.05 Td (Our ) Tj ET Q q 0 0 0 rg BT 311.57 96.05 Td (ability ) Tj ET Q q 0 0 0 rg BT 337.41 96.05 Td (to ) Tj ET Q q 0 0 0 rg BT 347.74 96.05 Td (raise ) Tj ET Q q 0 0 0 rg BT 370.08 96.05 Td (the ) Tj ET Q q 0 0 0 rg BT 385.42 96.05 Td (required ) Tj ET Q q 0 0 0 rg BT 421.27 96.05 Td (funding ) Tj ET Q q 0 0 0 rg BT 453.62 96.05 Td (depends ) Tj ET Q q 0 0 0 rg BT 490.98 96.05 Td (on ) Tj ET Q q 0 0 0 rg BT 503.82 96.05 Td (the ) Tj ET Q q 0 0 0 rg BT 519.16 96.05 Td (capacity ) Tj ET Q q 0 0 0 rg BT 555.00 96.05 Td (of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 82.55 Td (the ) Tj ET Q q 0 0 0 rg BT 87.34 82.55 Td (capital ) Tj ET Q q 0 0 0 rg BT 116.19 82.55 Td (markets ) Tj ET Q q 0 0 0 rg BT 151.02 82.55 Td (to ) Tj ET Q q 0 0 0 rg BT 161.35 82.55 Td (meet ) Tj ET Q q 0 0 0 rg BT 184.19 82.55 Td (our ) Tj ET Q q 0 0 0 rg BT 200.03 82.55 Td (financing ) Tj ET Q q 0 0 0 rg BT 238.88 82.55 Td (needs ) Tj ET Q q 0 0 0 rg BT 266.23 82.55 Td (in ) Tj ET Q q 0 0 0 rg BT 276.07 82.55 Td (a ) Tj ET Q q 0 0 0 rg BT 283.90 82.55 Td (timely ) Tj ET Q q 0 0 0 rg BT 310.23 82.55 Td (fashion ) Tj ET Q q 0 0 0 rg BT 342.08 82.55 Td (and ) Tj ET Q q 0 0 0 rg BT 359.93 82.55 Td (on ) Tj ET Q q 0 0 0 rg BT 372.77 82.55 Td (the ) Tj ET Q q 0 0 0 rg BT 388.11 82.55 Td (basis ) Tj ET Q q 0 0 0 rg BT 411.95 82.55 Td (of ) Tj ET Q q 0 0 0 rg BT 422.28 82.55 Td (interest ) Tj ET Q q 0 0 0 rg BT 454.63 82.55 Td (rates ) Tj ET Q q 0 0 0 rg BT 477.46 82.55 Td (and ) Tj ET Q q 0 0 0 rg BT 495.31 82.55 Td (share ) Tj ET Q q 0 0 0 rg BT 520.65 82.55 Td (prices ) Tj ET Q q 0 0 0 rg BT 547.49 82.55 Td (that ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 69.05 Td (are ) Tj ET Q q 0 0 0 rg BT 87.27 69.05 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 134.07 69.05 Td (in ) Tj ET Q q 0 0 0 rg BT 143.34 69.05 Td (the ) Tj ET Q q 0 0 0 rg BT 158.11 69.05 Td (context ) Tj ET Q q 0 0 0 rg BT 189.39 69.05 Td (of ) Tj ET Q q 0 0 0 rg BT 199.16 69.05 Td (profitability ) Tj ET Q q 0 0 0 rg BT 244.44 69.05 Td (objectives. ) Tj ET Q q 0 0 0 rg BT 289.23 69.05 Td (Increasing ) Tj ET Q q 0 0 0 rg BT 333.02 69.05 Td (interest ) Tj ET Q q 0 0 0 rg BT 364.79 69.05 Td (rates, ) Tj ET Q q 0 0 0 rg BT 389.57 69.05 Td (volatility ) Tj ET Q q 0 0 0 rg BT 423.84 69.05 Td (in ) Tj ET Q q 0 0 0 rg BT 433.11 69.05 Td (our ) Tj ET Q q 0 0 0 rg BT 448.38 69.05 Td (share ) Tj ET Q q 0 0 0 rg BT 473.16 69.05 Td (price, ) Tj ET Q q 0 0 0 rg BT 497.43 69.05 Td (and ) Tj ET Q q 0 0 0 rg BT 514.71 69.05 Td (the ) Tj ET Q q 0 0 0 rg BT 529.48 69.05 Td (capacity ) Tj ET Q endstream endobj 111 0 obj <> endobj 112 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (54) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 708.95 Td (of ) Tj ET Q q 0 0 0 rg BT 81.96 708.95 Td (our ) Tj ET Q q 0 0 0 rg BT 97.42 708.95 Td (current ) Tj ET Q q 0 0 0 rg BT 127.88 708.95 Td (lenders ) Tj ET Q q 0 0 0 rg BT 159.85 708.95 Td (to ) Tj ET Q q 0 0 0 rg BT 169.81 708.95 Td (meet ) Tj ET Q q 0 0 0 rg BT 192.27 708.95 Td (our ) Tj ET Q q 0 0 0 rg BT 207.73 708.95 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 240.19 708.95 Td (requirements ) Tj ET Q q 0 0 0 rg BT 295.17 708.95 Td (are ) Tj ET Q q 0 0 0 rg BT 310.63 708.95 Td (all ) Tj ET Q q 0 0 0 rg BT 322.08 708.95 Td (factors ) Tj ET Q q 0 0 0 rg BT 351.54 708.95 Td (that ) Tj ET Q q 0 0 0 rg BT 369.01 708.95 Td (may ) Tj ET Q q 0 0 0 rg BT 388.46 708.95 Td (have ) Tj ET Q q 0 0 0 rg BT 410.43 708.95 Td (an ) Tj ET Q q 0 0 0 rg BT 422.89 708.95 Td (adverse ) Tj ET Q q 0 0 0 rg BT 457.36 708.95 Td (ef) Tj ET Q q 0 0 0 rg BT 464.70 708.95 Td (fect ) Tj ET Q q 0 0 0 rg BT 481.66 708.95 Td (on ) Tj ET Q q 0 0 0 rg BT 494.13 708.95 Td (our ) Tj ET Q q 0 0 0 rg BT 509.58 708.95 Td (access ) Tj ET Q q 0 0 0 rg BT 540.05 708.95 Td (to ) Tj ET Q q 0 0 0 rg BT 550.00 708.95 Td (the ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 695.45 Td (funding ) Tj ET Q q 0 0 0 rg BT 104.03 695.45 Td (we ) Tj ET Q q 0 0 0 rg BT 118.03 695.45 Td (require. ) Tj ET Q q 0 0 0 rg BT 151.05 695.45 Td (If ) Tj ET Q q 0 0 0 rg BT 158.55 695.45 Td (we ) Tj ET Q q 0 0 0 rg BT 172.56 695.45 Td (are ) Tj ET Q q 0 0 0 rg BT 188.06 695.45 Td (unable ) Tj ET Q q 0 0 0 rg BT 217.59 695.45 Td (to ) Tj ET Q q 0 0 0 rg BT 227.60 695.45 Td (obtain ) Tj ET Q q 0 0 0 rg BT 254.62 695.45 Td (the ) Tj ET Q q 0 0 0 rg BT 269.63 695.45 Td (necessary ) Tj ET Q q 0 0 0 rg BT 313.15 695.45 Td (funding, ) Tj ET Q q 0 0 0 rg BT 347.68 695.45 Td (we ) Tj ET Q q 0 0 0 rg BT 361.68 695.45 Td (may ) Tj ET Q q 0 0 0 rg BT 381.19 695.45 Td (be ) Tj ET Q q 0 0 0 rg BT 393.70 695.45 Td (unable ) Tj ET Q q 0 0 0 rg BT 423.22 695.45 Td (to ) Tj ET Q q 0 0 0 rg BT 433.23 695.45 Td (achieve ) Tj ET Q q 0 0 0 rg BT 466.75 695.45 Td (our ) Tj ET Q q 0 0 0 rg BT 482.26 695.45 Td (growth ) Tj ET Q q 0 0 0 rg BT 511.77 695.45 Td (objectives.) Tj ET Q BT /F4 9.00 Tf ET 0 0 0 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 73.5 674.366796875 m 162.04541015625 674.366796875 l s q 0 0 0 rg BT 73.50 675.65 Td (Foreign ) Tj ET Q q 0 0 0 rg BT 106.52 675.65 Td (exchange ) Tj ET Q q 0 0 0 rg BT 148.05 675.65 Td (risk) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 659.15 Td (The ) Tj ET Q q 0 0 0 rg BT 90.93 659.15 Td (majority ) Tj ET Q q 0 0 0 rg BT 125.86 659.15 Td (of ) Tj ET Q q 0 0 0 rg BT 136.79 659.15 Td (our ) Tj ET Q q 0 0 0 rg BT 153.23 659.15 Td (revenue ) Tj ET Q q 0 0 0 rg BT 189.17 659.15 Td (and ) Tj ET Q q 0 0 0 rg BT 207.62 659.15 Td (costs ) Tj ET Q q 0 0 0 rg BT 232.05 659.15 Td (are ) Tj ET Q q 0 0 0 rg BT 248.48 659.15 Td (denominated ) Tj ET Q q 0 0 0 rg BT 303.94 659.15 Td (in ) Tj ET Q q 0 0 0 rg BT 314.37 659.15 Td (currencies ) Tj ET Q q 0 0 0 rg BT 359.31 659.15 Td (other ) Tj ET Q q 0 0 0 rg BT 383.25 659.15 Td (than ) Tj ET Q q 0 0 0 rg BT 404.19 659.15 Td (the ) Tj ET Q q 0 0 0 rg BT 420.13 659.15 Td (Canadian ) Tj ET Q q 0 0 0 rg BT 462.08 659.15 Td (dollar) Tj ET Q q 0 0 0 rg BT 483.60 659.15 Td (. ) Tj ET Q q 0 0 0 rg BT 489.53 659.15 Td (Foreign ) Tj ET Q q 0 0 0 rg BT 523.47 659.15 Td (exchange ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 645.65 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 120.02 645.65 Td (impact ) Tj ET Q q 0 0 0 rg BT 149.03 645.65 Td (the ) Tj ET Q q 0 0 0 rg BT 164.04 645.65 Td (results ) Tj ET Q q 0 0 0 rg BT 193.04 645.65 Td (of ) Tj ET Q q 0 0 0 rg BT 203.04 645.65 Td (our ) Tj ET Q q 0 0 0 rg BT 218.55 645.65 Td (operations ) Tj ET Q q 0 0 0 rg BT 263.07 645.65 Td (as ) Tj ET Q q 0 0 0 rg BT 275.08 645.65 Td (they ) Tj ET Q q 0 0 0 rg BT 294.58 645.65 Td (are ) Tj ET Q q 0 0 0 rg BT 310.09 645.65 Td (reported ) Tj ET Q q 0 0 0 rg BT 346.11 645.65 Td (in ) Tj ET Q q 0 0 0 rg BT 355.61 645.65 Td (Canadian ) Tj ET Q q 0 0 0 rg BT 396.63 645.65 Td (dollars. ) Tj ET Q q 0 0 0 rg BT 427.98 645.65 Td (This ) Tj ET Q q 0 0 0 rg BT 447.48 645.65 Td (risk ) Tj ET Q q 0 0 0 rg BT 463.97 645.65 Td (is ) Tj ET Q q 0 0 0 rg BT 472.97 645.65 Td (partially ) Tj ET Q q 0 0 0 rg BT 506.48 645.65 Td (mitigated ) Tj ET Q q 0 0 0 rg BT 545.49 645.65 Td (by ) Tj ET Q q 0 0 0 rg BT 557.50 645.65 Td (a ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 632.15 Td (natural ) Tj ET Q q 0 0 0 rg BT 102.35 632.15 Td (hedge ) Tj ET Q q 0 0 0 rg BT 130.20 632.15 Td (in ) Tj ET Q q 0 0 0 rg BT 140.03 632.15 Td (matching ) Tj ET Q q 0 0 0 rg BT 179.38 632.15 Td (our ) Tj ET Q q 0 0 0 rg BT 195.21 632.15 Td (costs ) Tj ET Q q 0 0 0 rg BT 219.05 632.15 Td (with ) Tj ET Q q 0 0 0 rg BT 237.88 632.15 Td (revenue ) Tj ET Q q 0 0 0 rg BT 273.23 632.15 Td (denominated ) Tj ET Q q 0 0 0 rg BT 328.10 632.15 Td (in ) Tj ET Q q 0 0 0 rg BT 337.93 632.15 Td (the ) Tj ET Q q 0 0 0 rg BT 353.27 632.15 Td (same ) Tj ET Q q 0 0 0 rg BT 378.11 632.15 Td (currency ) Tj ET Q q 0 0 0 rg BT 415.44 632.15 Td (and ) Tj ET Q q 0 0 0 rg BT 433.29 632.15 Td (through ) Tj ET Q q 0 0 0 rg BT 466.64 632.15 Td (the ) Tj ET Q q 0 0 0 rg BT 481.98 632.15 Td (use ) Tj ET Q q 0 0 0 rg BT 499.32 632.15 Td (of ) Tj ET Q q 0 0 0 rg BT 509.65 632.15 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 555.50 632.15 Td (in ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 618.65 Td (our ) Tj ET Q q 0 0 0 rg BT 88.03 618.65 Td (hedging ) Tj ET Q q 0 0 0 rg BT 123.09 618.65 Td (strategy) Tj ET Q q 0 0 0 rg BT 154.43 618.65 Td (. ) Tj ET Q q 0 0 0 rg BT 159.36 618.65 Td (As ) Tj ET Q q 0 0 0 rg BT 172.89 618.65 Td (we ) Tj ET Q q 0 0 0 rg BT 187.42 618.65 Td (continue ) Tj ET Q q 0 0 0 rg BT 224.47 618.65 Td (our ) Tj ET Q q 0 0 0 rg BT 240.50 618.65 Td (global ) Tj ET Q q 0 0 0 rg BT 267.54 618.65 Td (expansion, ) Tj ET Q q 0 0 0 rg BT 314.10 618.65 Td (natural ) Tj ET Q q 0 0 0 rg BT 344.64 618.65 Td (hedges ) Tj ET Q q 0 0 0 rg BT 377.19 618.65 Td (may ) Tj ET Q q 0 0 0 rg BT 397.22 618.65 Td (begin ) Tj ET Q q 0 0 0 rg BT 422.27 618.65 Td (to ) Tj ET Q q 0 0 0 rg BT 432.80 618.65 Td (diminish ) Tj ET Q q 0 0 0 rg BT 468.83 618.65 Td (and ) Tj ET Q q 0 0 0 rg BT 486.87 618.65 Td (the ) Tj ET Q q 0 0 0 rg BT 502.41 618.65 Td (use ) Tj ET Q q 0 0 0 rg BT 519.94 618.65 Td (of ) Tj ET Q q 0 0 0 rg BT 530.48 618.65 Td (hedging ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 605.15 Td (contracts ) Tj ET Q q 0 0 0 rg BT 111.08 605.15 Td (exposes ) Tj ET Q q 0 0 0 rg BT 147.18 605.15 Td (us ) Tj ET Q q 0 0 0 rg BT 159.25 605.15 Td (to ) Tj ET Q q 0 0 0 rg BT 169.33 605.15 Td (the ) Tj ET Q q 0 0 0 rg BT 184.41 605.15 Td (risk ) Tj ET Q q 0 0 0 rg BT 200.98 605.15 Td (that ) Tj ET Q q 0 0 0 rg BT 218.56 605.15 Td (financial ) Tj ET Q q 0 0 0 rg BT 254.15 605.15 Td (institutions ) Tj ET Q q 0 0 0 rg BT 299.24 605.15 Td (will ) Tj ET Q q 0 0 0 rg BT 314.31 605.15 Td (fail ) Tj ET Q q 0 0 0 rg BT 328.38 605.15 Td (to ) Tj ET Q q 0 0 0 rg BT 338.46 605.15 Td (perform ) Tj ET Q q 0 0 0 rg BT 372.04 605.15 Td (their ) Tj ET Q q 0 0 0 rg BT 392.12 605.15 Td (obligations ) Tj ET Q q 0 0 0 rg BT 437.72 605.15 Td (under ) Tj ET Q q 0 0 0 rg BT 463.31 605.15 Td (our ) Tj ET Q q 0 0 0 rg BT 478.89 605.15 Td (hedging ) Tj ET Q q 0 0 0 rg BT 513.49 605.15 Td (instruments. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 591.65 Td (Other ) Tj ET Q q 0 0 0 rg BT 97.01 591.65 Td (than ) Tj ET Q q 0 0 0 rg BT 117.03 591.65 Td (the ) Tj ET Q q 0 0 0 rg BT 132.04 591.65 Td (use ) Tj ET Q q 0 0 0 rg BT 149.05 591.65 Td (of ) Tj ET Q q 0 0 0 rg BT 159.06 591.65 Td (financial ) Tj ET Q q 0 0 0 rg BT 194.58 591.65 Td (products ) Tj ET Q q 0 0 0 rg BT 231.60 591.65 Td (to ) Tj ET Q q 0 0 0 rg BT 241.60 591.65 Td (deliver ) Tj ET Q q 0 0 0 rg BT 270.62 591.65 Td (on ) Tj ET Q q 0 0 0 rg BT 283.13 591.65 Td (our ) Tj ET Q q 0 0 0 rg BT 298.63 591.65 Td (hedging ) Tj ET Q q 0 0 0 rg BT 333.17 591.65 Td (strategy) Tj ET Q q 0 0 0 rg BT 364.51 591.65 Td (, ) Tj ET Q q 0 0 0 rg BT 369.51 591.65 Td (we ) Tj ET Q q 0 0 0 rg BT 383.52 591.65 Td (do ) Tj ET Q q 0 0 0 rg BT 396.03 591.65 Td (not ) Tj ET Q q 0 0 0 rg BT 411.04 591.65 Td (trade ) Tj ET Q q 0 0 0 rg BT 434.06 591.65 Td (derivative ) Tj ET Q q 0 0 0 rg BT 475.08 591.65 Td (financial ) Tj ET Q q 0 0 0 rg BT 510.60 591.65 Td (instruments.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 572.15 Td (Our ) Tj ET Q q 0 0 0 rg BT 90.75 572.15 Td (functional ) Tj ET Q q 0 0 0 rg BT 133.03 572.15 Td (and ) Tj ET Q q 0 0 0 rg BT 151.79 572.15 Td (reporting ) Tj ET Q q 0 0 0 rg BT 191.06 572.15 Td (currency ) Tj ET Q q 0 0 0 rg BT 229.32 572.15 Td (is ) Tj ET Q q 0 0 0 rg BT 239.57 572.15 Td (the ) Tj ET Q q 0 0 0 rg BT 255.83 572.15 Td (Canadian ) Tj ET Q q 0 0 0 rg BT 298.12 572.15 Td (dollar) Tj ET Q q 0 0 0 rg BT 319.63 572.15 Td (. ) Tj ET Q q 0 0 0 rg BT 325.14 572.15 Td (As ) Tj ET Q q 0 0 0 rg BT 339.39 572.15 Td (such, ) Tj ET Q q 0 0 0 rg BT 364.65 572.15 Td (our ) Tj ET Q q 0 0 0 rg BT 380.66 572.15 Td (American, ) Tj ET Q q 0 0 0 rg BT 424.92 572.15 Td (European ) Tj ET Q q 0 0 0 rg BT 467.71 572.15 Td (and ) Tj ET Q q 0 0 0 rg BT 485.73 572.15 Td (Asian ) Tj ET Q q 0 0 0 rg BT 511.99 572.15 Td (investments, ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 558.65 Td (operations ) Tj ET Q q 0 0 0 rg BT 117.24 558.65 Td (and ) Tj ET Q q 0 0 0 rg BT 135.46 558.65 Td (assets ) Tj ET Q q 0 0 0 rg BT 164.67 558.65 Td (are ) Tj ET Q q 0 0 0 rg BT 180.89 558.65 Td (exposed ) Tj ET Q q 0 0 0 rg BT 218.12 558.65 Td (to ) Tj ET Q q 0 0 0 rg BT 228.83 558.65 Td (net ) Tj ET Q q 0 0 0 rg BT 244.55 558.65 Td (change ) Tj ET Q q 0 0 0 rg BT 277.28 558.65 Td (in ) Tj ET Q q 0 0 0 rg BT 287.49 558.65 Td (currency ) Tj ET Q q 0 0 0 rg BT 325.21 558.65 Td (exchange ) Tj ET Q q 0 0 0 rg BT 367.45 558.65 Td (rates. ) Tj ET Q q 0 0 0 rg BT 393.16 558.65 Td (V) Tj ET Q q 0 0 0 rg BT 398.67 558.65 Td (olatility ) Tj ET Q q 0 0 0 rg BT 429.39 558.65 Td (in ) Tj ET Q q 0 0 0 rg BT 439.60 558.65 Td (exchange ) Tj ET Q q 0 0 0 rg BT 481.84 558.65 Td (rates ) Tj ET Q q 0 0 0 rg BT 505.05 558.65 Td (could ) Tj ET Q q 0 0 0 rg BT 529.77 558.65 Td (have ) Tj ET Q q 0 0 0 rg BT 552.49 558.65 Td (an ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 545.15 Td (adverse ) Tj ET Q q 0 0 0 rg BT 106.52 545.15 Td (ef) Tj ET Q q 0 0 0 rg BT 113.86 545.15 Td (fect ) Tj ET Q q 0 0 0 rg BT 130.87 545.15 Td (on ) Tj ET Q q 0 0 0 rg BT 143.38 545.15 Td (our ) Tj ET Q q 0 0 0 rg BT 158.89 545.15 Td (business, ) Tj ET Q q 0 0 0 rg BT 199.41 545.15 Td (financial ) Tj ET Q q 0 0 0 rg BT 234.93 545.15 Td (condition ) Tj ET Q q 0 0 0 rg BT 273.46 545.15 Td (and ) Tj ET Q q 0 0 0 rg BT 290.98 545.15 Td (results ) Tj ET Q q 0 0 0 rg BT 319.98 545.15 Td (of ) Tj ET Q q 0 0 0 rg BT 329.99 545.15 Td (our ) Tj ET Q q 0 0 0 rg BT 345.50 545.15 Td (operations.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 73.50 519.35 Td (10.2. ) Tj ET Q q 0 0 0 rg BT 96.02 519.35 Td (LEGAL) Tj ET Q q 0 0 0 rg BT 126.35 519.35 Td ( ) Tj ET Q q 0 0 0 rg BT 128.85 519.35 Td (PROCEEDINGS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 500.85 Td (The ) Tj ET Q q 0 0 0 rg BT 90.80 500.85 Td (Company ) Tj ET Q q 0 0 0 rg BT 132.61 500.85 Td (is ) Tj ET Q q 0 0 0 rg BT 142.40 500.85 Td (involved ) Tj ET Q q 0 0 0 rg BT 178.72 500.85 Td (in ) Tj ET Q q 0 0 0 rg BT 189.02 500.85 Td (legal ) Tj ET Q q 0 0 0 rg BT 211.32 500.85 Td (proceedings, ) Tj ET Q q 0 0 0 rg BT 266.15 500.85 Td (audits, ) Tj ET Q q 0 0 0 rg BT 295.96 500.85 Td (claims ) Tj ET Q q 0 0 0 rg BT 324.76 500.85 Td (and ) Tj ET Q q 0 0 0 rg BT 343.06 500.85 Td (litigation ) Tj ET Q q 0 0 0 rg BT 379.38 500.85 Td (arising ) Tj ET Q q 0 0 0 rg BT 409.18 500.85 Td (in ) Tj ET Q q 0 0 0 rg BT 419.48 500.85 Td (the ) Tj ET Q q 0 0 0 rg BT 435.29 500.85 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 471.09 500.85 Td (course ) Tj ET Q q 0 0 0 rg BT 501.40 500.85 Td (of ) Tj ET Q q 0 0 0 rg BT 512.20 500.85 Td (its ) Tj ET Q q 0 0 0 rg BT 524.49 500.85 Td (business. ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 487.35 Td (Certain ) Tj ET Q q 0 0 0 rg BT 103.47 487.35 Td (of ) Tj ET Q q 0 0 0 rg BT 113.43 487.35 Td (these ) Tj ET Q q 0 0 0 rg BT 137.91 487.35 Td (matters ) Tj ET Q q 0 0 0 rg BT 170.37 487.35 Td (seek ) Tj ET Q q 0 0 0 rg BT 191.84 487.35 Td (damages ) Tj ET Q q 0 0 0 rg BT 231.32 487.35 Td (in ) Tj ET Q q 0 0 0 rg BT 240.78 487.35 Td (significant ) Tj ET Q q 0 0 0 rg BT 283.26 487.35 Td (amounts. ) Tj ET Q q 0 0 0 rg BT 322.25 487.35 Td (Although ) Tj ET Q q 0 0 0 rg BT 360.24 487.35 Td (the ) Tj ET Q q 0 0 0 rg BT 375.21 487.35 Td (outcome ) Tj ET Q q 0 0 0 rg BT 412.18 487.35 Td (of ) Tj ET Q q 0 0 0 rg BT 422.15 487.35 Td (such ) Tj ET Q q 0 0 0 rg BT 443.62 487.35 Td (matters ) Tj ET Q q 0 0 0 rg BT 476.08 487.35 Td (is ) Tj ET Q q 0 0 0 rg BT 485.04 487.35 Td (not ) Tj ET Q q 0 0 0 rg BT 500.00 487.35 Td (predictable ) Tj ET Q q 0 0 0 rg BT 546.49 487.35 Td (with ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 473.85 Td (assurance, ) Tj ET Q q 0 0 0 rg BT 117.64 473.85 Td (the ) Tj ET Q q 0 0 0 rg BT 131.77 473.85 Td (Company ) Tj ET Q q 0 0 0 rg BT 171.90 473.85 Td (has ) Tj ET Q q 0 0 0 rg BT 188.03 473.85 Td (no ) Tj ET Q q 0 0 0 rg BT 199.66 473.85 Td (reason ) Tj ET Q q 0 0 0 rg BT 228.79 473.85 Td (to ) Tj ET Q q 0 0 0 rg BT 237.92 473.85 Td (believe ) Tj ET Q q 0 0 0 rg BT 268.05 473.85 Td (that ) Tj ET Q q 0 0 0 rg BT 284.68 473.85 Td (the ) Tj ET Q q 0 0 0 rg BT 298.81 473.85 Td (disposition ) Tj ET Q q 0 0 0 rg BT 342.95 473.85 Td (of ) Tj ET Q q 0 0 0 rg BT 352.08 473.85 Td (any ) Tj ET Q q 0 0 0 rg BT 368.20 473.85 Td (such ) Tj ET Q q 0 0 0 rg BT 388.83 473.85 Td (current ) Tj ET Q q 0 0 0 rg BT 418.46 473.85 Td (matter ) Tj ET Q q 0 0 0 rg BT 445.58 473.85 Td (could ) Tj ET Q q 0 0 0 rg BT 468.71 473.85 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 514.36 473.85 Td (be ) Tj ET Q q 0 0 0 rg BT 525.99 473.85 Td (expected ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 460.35 Td (to ) Tj ET Q q 0 0 0 rg BT 81.80 460.35 Td (have ) Tj ET Q q 0 0 0 rg BT 103.62 460.35 Td (a ) Tj ET Q q 0 0 0 rg BT 110.92 460.35 Td (material ) Tj ET Q q 0 0 0 rg BT 145.23 460.35 Td (adverse ) Tj ET Q q 0 0 0 rg BT 179.55 460.35 Td (ef) Tj ET Q q 0 0 0 rg BT 186.89 460.35 Td (fect ) Tj ET Q q 0 0 0 rg BT 203.70 460.35 Td (on ) Tj ET Q q 0 0 0 rg BT 216.01 460.35 Td (the ) Tj ET Q q 0 0 0 rg BT 230.82 460.35 Td (Company) Tj ET Q q 0 0 0 rg BT 271.17 460.35 Td (s ) Tj ET Q q 0 0 0 rg BT 277.97 460.35 Td (financial ) Tj ET Q q 0 0 0 rg BT 313.29 460.35 Td (position, ) Tj ET Q q 0 0 0 rg BT 349.11 460.35 Td (results ) Tj ET Q q 0 0 0 rg BT 377.92 460.35 Td (of ) Tj ET Q q 0 0 0 rg BT 387.72 460.35 Td (operations ) Tj ET Q q 0 0 0 rg BT 432.05 460.35 Td (or ) Tj ET Q q 0 0 0 rg BT 442.35 460.35 Td (the ) Tj ET Q q 0 0 0 rg BT 457.16 460.35 Td (ability ) Tj ET Q q 0 0 0 rg BT 482.47 460.35 Td (to ) Tj ET Q q 0 0 0 rg BT 492.28 460.35 Td (carry ) Tj ET Q q 0 0 0 rg BT 514.57 460.35 Td (on ) Tj ET Q q 0 0 0 rg BT 526.88 460.35 Td (any ) Tj ET Q q 0 0 0 rg BT 543.69 460.35 Td (of ) Tj ET Q q 0 0 0 rg BT 553.50 460.35 Td (its ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 446.85 Td (business ) Tj ET Q q 0 0 0 rg BT 110.02 446.85 Td (activities.) Tj ET Q endstream endobj 113 0 obj <> endobj 114 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 33.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 50.75 22.10 Td (CGI Group Inc. - Management's Discussion and Analysis for the year ended September 30, 2016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.40 22.10 Td (Page) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 550.95 22.10 Td (55) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 49.50 233.75 Td (T) Tj ET Q q 0 0 0 rg BT 54.50 233.75 Td (ransfer ) Tj ET Q q 0 0 0 rg BT 87.18 233.75 Td (Agent) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 49.50 222.95 Td (Computershare Investor Services Inc.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 49.50 212.15 Td (\(800\) 564-6253) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 49.50 187.35 Td (Investor Relations) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 49.50 176.55 Td (Lorne Gorber) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 49.50 165.75 Td (Executive V) Tj ET Q q 0 0 0 rg BT 96.86 165.75 Td (ice-President, Global Communications& Investor Relations) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 49.50 154.95 Td (T) Tj ET Q q 0 0 0 rg BT 54.00 154.95 Td (elephone: \(514\)841-3355) Tj ET Q BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0.2 1 RG /GS0 gs 0.66 w 0 i [] 0 d 1 J 1 j 3 M 49.5 142.86679687499998 m 138.1728515625 142.86679687499998 l s q 0 0.2 1 rg BT 49.50 144.15 Td (lorne.gorber@cgi.com) Tj ET Q BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 49.50 124.35 Td (1350 Ren-Lvesque Boulevard W) Tj ET Q q 0 0 0 rg BT 189.43 124.35 Td (est) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 49.50 113.55 Td (15) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 59.51 117.84 Td (th) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 64.39 113.55 Td ( Floor) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 49.50 102.75 Td (Montreal, Quebec) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 49.50 91.95 Td (H3G 1T4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 49.50 81.15 Td (Canada) Tj ET Q endstream endobj 115 0 obj <> /View <>>>>> endobj 116 0 obj <> /View <>>>>> endobj 117 0 obj <> endobj 118 0 obj <> stream xy\E7~n{{w'd'52 HaGPPA!"" b-&h,+TLy?:uk?uΩoH""?W~.Xv3&rm 2\jMgwm'CڴzlycǏ\ rBjx\DsV@{twocmC{Iwl11z:1m!t-\q3D.:yz'Wɨp[_F=>E"ǢӦ/|K&_~=!wn-az3¦h$7,ؑ2Oo_eSFLlk}Fg[F>|;