EFTA Document EFTA01457538

1 May 2016 Autos & Auto Parts Delphi Automotive [Figure 4: Delphi Discounted Cash Flow Delphi Discounted Cash Flow Analysis On $ millions) 2013 2014 2015E 2016E 2017E 2018E 2019E 2020E 0 0 0 1 2 3 4 5 Revenues 516.463 517.023 $15293 516.947 318.500' $19.703 520.688 521.401 Revenue Down 61% 34% -102% 108% 92% 65% 5.0% 35% Cperatng Expenses $14620 515.005 $13,293 514.695 $15.910 $18,964 $17.853 518,512 CperaIng Morro $1,844 $2018 $2.003 $2,251