Wolters KluwerFinancial & Compliance Services2012 Investor Event                                  December 7, 2012        ...
Forward-looking StatementsThis presentation contains forward-looking statements. These statements maybe identified by word...
Welcome    Meg Geldens    Vice President, Investor Relations    Wolters Kluwer3
AgendaMeg Geldens        WelcomeNancy McKinstry    F&CS Division in ContextBrian Longe        F&CS Division OverviewKen Ne...
Financial & Compliance Services DivisionNancy McKinstryCEOWolters Kluwer5
F&CS in context of Wolters Kluwer    Currently 10% of group revenue                                Wolters Kluwer      Leg...
Creating a global leader                  Organic investment and acquisitions to build a global leader in                 ...
Strategic prioritiesF&CS priorities mirror those of Wolters Kluwer                 Portfolio management    Portfolio     ...
Key take-waysInvesting to accelerate growth                                                   Increasing scale           ...
Financial & Compliance Services – December 7, 201210
Financial & Compliance Services DivisionBrian LongeCEOWolters Kluwer Financial & Compliance Services11
Wolters Kluwer Financial & Compliance Services           Four business units                                       Financi...
Market leader     Number 1 in key niches                          Financial & Compliance Services                         ...
Revenues Revenue has grown 8% at constant currency; organic growth resilient during global banking crisis     F&CS Revenue...
Revenue by media format Software, online and services make up 94% of F&CS revenue               F&CS Revenue by Media Form...
Revenue by type Over 60% of revenue is recurring                  F&CS Revenue by Type (€ millions)              Other cyc...
Ordinary EBITA   Margin impacted by investment and mixed trends in transactional   revenues       F&CS Ordinary EBITA (€ m...
Mission: Global Provider of Finance, Risk, Audit &        Compliance Solutions        Knowledge delivered via technology a...
Global risk technology spend               Spending on risk solutions outpacing overall Financial Services IT spend       ...
Competitive landscape                      Wolters Kluwer, a leader combining knowledge, technology and services          ...
Market drivers Economic and regulatory pressure turn Wolters Kluwer F&CS into a mission-critical provider to our customers...
Increased regulatory complexity      Financial Services industry facing perfect storm of regulations      (Illustrative)  ...
Where we are positioned Our strong position in Middle and Back Office puts us in pole position to help financial instituti...
Our strategic prioritiesThree strategic goals                   Establish global leadership              Broaden risk mana...
Financial & Compliance Services Division Ken Newton CEO Originations & Compliance25
Originations & Compliance: summary      Market leading U.S. compliance workflow position                            ENTERP...
Originations & Compliance: product offerings Extensive range of solutions based on industry standard content        U.S. B...
Originations & Compliance: market trends Leading U.S. compliance position enables us to quickly respond to evolving U.S. r...
Case Study: Disclosure Manager       Solving an inefficient, costly, highly-regulated process for lendersDisclosure Manage...
Case Study: Default Servicing solution Wolters Kluwer addresses critical elements of default servicing                    ...
Financial & Compliance Services Division                  BREAK31
Financial & Compliance Services Division Raffi Festekjian CEO Finance, Risk & Compliance32
Finance, Risk & Compliance: product offeringsWe provide a range of solutions to banks, insurance and securities firms     ...
Finance, Risk & Compliance: summary     Leading regulatory position anchors broader risk and performance     management va...
Finance, Risk & Compliance: market drivers We are a mission critical provider for financial institutions globally         ...
Case study: FRSGlobal + FinArch The advantage of building off a single source of dataALMBasel II & Basel IIISolvency II   ...
Case study: FRS Global + FinArchCombination feeds higher value needs around risk & performance                   CEOs & Bo...
Case study: Enterprise Risk Management Modular solution underpinned by common platform services                  ENTERPRIS...
Financial & Compliance Services Division Ian Rhind CEO Audit39
Audit, Risk & Compliance: position     TeamMate focused on core back office function                                 ENTER...
Audit Management Software    Five integrated modules within TeamMate   A COSO-compatible risk                             ...
Audit: Market drivers     Need for efficiency and productivity is driving demand for proven     internal audit solutions  ...
Case study: TeamMate Compliance and Audit         Management   Compliance                                                 ...
Financial & Compliance Services Division Ken Newton CEO Transport Services44
Transport Services: product offering   Marketplace-powered TMS provider           Freight Exchange                        ...
Transport Services: market trends    A challenging environment for European road transportCustomer challenges             ...
Transport Services: strategy Move towards integrated enterprise workflow solutions Broaden the approach of Transport Serv...
Case study: Teleroute Collaboration – Company, Partner and Open ExchangeLeading pan-Europeanmarket position     Over 70,00...
Financial & Compliance Services DivisionNancy McKinstryCEOWolters Kluwer49
Conclusions F&CS has strong market positions in fast growing segments of the financial  services solutions market and is ...
Financial & Compliance Services Division                   Q&A51
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2012 Investor Event: Wolters Kluwer Financial & Compliance Services

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2012 Investor Event: Wolters Kluwer Financial & Compliance Services

  1. 1. Wolters KluwerFinancial & Compliance Services2012 Investor Event December 7, 2012 London
  2. 2. Forward-looking StatementsThis presentation contains forward-looking statements. These statements maybe identified by words such as "expect", "should", "could", "shall", and similarexpressions. Wolters Kluwer cautions that such forward-looking statements arequalified by certain risks and uncertainties that could cause actual results andevents to differ materially from what is contemplated by the forward-lookingstatements. Factors which could cause actual results to differ from theseforward-looking statements may include, without limitation, general economicconditions, conditions in the markets in which Wolters Kluwer is engaged,behavior of customers, suppliers and competitors, technological developments,the implementation and execution of new ICT systems or outsourcing, legal,tax, and regulatory rules affecting Wolters Kluwers businesses, as well as risksrelated to mergers, acquisitions and divestments. In addition, financial risks,such as currency movements, interest rate fluctuations, liquidity and creditrisks could influence future results. The foregoing list of factors should not beconstrued as exhaustive. Wolters Kluwer disclaims any intention or obligationto publicly update or revise any forward-looking statements, whether as aresult of new information, future events or otherwise.2
  3. 3. Welcome Meg Geldens Vice President, Investor Relations Wolters Kluwer3
  4. 4. AgendaMeg Geldens WelcomeNancy McKinstry F&CS Division in ContextBrian Longe F&CS Division OverviewKen Newton Financial Services – Originations & ComplianceRaffi Festekjian Financial Services – Finance, Risk & ComplianceIan Rhind Audit, Risk & ComplianceKen Newton Transport ServicesNancy McKinstry Concluding remarks Q&A4 Financial & Compliance Services – December 7, 2012
  5. 5. Financial & Compliance Services DivisionNancy McKinstryCEOWolters Kluwer5
  6. 6. F&CS in context of Wolters Kluwer Currently 10% of group revenue Wolters Kluwer Legal & Tax & Health Financial & Regulatory Accounting Compliance €1,451m €931m €639m €333m FY2011 Revenues by Division6 Financial & Compliance Services – December 7, 2012
  7. 7. Creating a global leader Organic investment and acquisitions to build a global leader in finance, risk and compliance 2004 - 2006 2007 - 2009 2010 - 2012Investment ComplianceOne Enterprise Risk Management suite Organic Expere NILS INcompass Solvency II offering SDX Secure Document Exchange Consulting Practice TeamMate Broker Dealer Disclosure Manager Financial Crime Control solutions TSoftPlus Acquisition TeamMate Sword FRSGlobal FinArch PCi DesertDocs AppOne SASGAS Spring Programs GulfPak ComplianceOnlineBusiness U.S. leader in financial Global leader in finance, risk, Focus U.S. provider of services compliance compliance documentation compliance, and audit Growing global position in audit and risk 7 Financial & Compliance Services – December 7, 2012
  8. 8. Strategic prioritiesF&CS priorities mirror those of Wolters Kluwer Portfolio management Portfolio  Capital allocated towards higher growth market segments  Entering adjacent markets around financial services risk  Expanding further into business process outsourcing (BPO) Organic investment in new and enhanced products Innovation  DocViewer next generation dynamic document technology  TeamMate Broker-Dealer audit solution launched 2012  Enterprise Risk Management was suite launched late 2009 Organic investment in international expansionGlobalization  FRSGlobal and FinArch investing to extend global capabilities  TeamMate international roll-out (currently 100+ countries) Operational excellence Operating  F&CS “Office of Customer Experience”Efficiencies  Integration synergies FRSGlobal and FinArch8 Financial & Compliance Services – December 7, 2012
  9. 9. Key take-waysInvesting to accelerate growth  Increasing scale  Market leader in key niche segments  Strategic combination of technology, knowledge and consulting services  Positioned in growing market segments  Investing in innovation and globalization to drive future growth  HY2012 results demonstrate improving top line momentum9 Financial & Compliance Services – December 7, 2012
  10. 10. Financial & Compliance Services – December 7, 201210
  11. 11. Financial & Compliance Services DivisionBrian LongeCEOWolters Kluwer Financial & Compliance Services11
  12. 12. Wolters Kluwer Financial & Compliance Services Four business units Financial & Compliance Services FY 2011 Revenue: €333 million HY 2012 Revenue €180 million Originations & Finance, Risk & Transport Compliance Audit, Risk & Compliance Services 35%1 Compliance 39%1 15%1 ComplianceOne FRSGlobal, FinArch 11%1 Teleroute Gainskeeper, NILS TeamMate Mortgage DocServices Transwide ERM suite (ARCLogics) Axentis Expere, AppOne Tivios Wiz suite Customers: Customers: Customers: Risk, compliance, finance professionals at Internal auditors Freight banks, insurance companies, securities in many industries forwarders, firms and other financial institutions and government trucking firms1 Percent of divisional revenue based on HY 2012 12 Financial & Compliance Services – December 7, 2012
  13. 13. Market leader Number 1 in key niches Financial & Compliance Services FY 2011 Revenue: €333 million Originations & Finance, Risk & Audit, Risk & Transport Compliance Compliance Compliance Services #1 in U.S. loan #1 in U.S. CRA & Fair #1 global provider Leading European origination software Lending compliance of internal audit real-time freight #1 in U.S. mortgage #1 in Regulatory software exchange document systems Reporting Leading provider IFRS solutions13 Financial & Compliance Services – December 7, 2012
  14. 14. Revenues Revenue has grown 8% at constant currency; organic growth resilient during global banking crisis F&CS Revenue (€ millions) F&CS Organic Growth (%)CAGR 8% at reported and constant currency * 2007-2009 proforma. F&CS division formed in 2010 Financial & Compliance Services – December 7, 201214
  15. 15. Revenue by media format Software, online and services make up 94% of F&CS revenue F&CS Revenue by Media Format (€ millions) Software Online Services Print 100% 6% 11% 10% 10% 13% 17% 80% 60% 39% 37% 31% 40% 20% 40% 40% 46% 0% 2009 2010 2011 Financial & Compliance Services – December 7, 201215
  16. 16. Revenue by type Over 60% of revenue is recurring F&CS Revenue by Type (€ millions) Other cyclical (incl. training, consulting, Transport Services, etc.) Financial Services transactional Recurring 100% 24% 24% 22% 80% 18% 17% 17% 60% 40% 57% 59% 61% 20% 0% 2009 2010 2011 Financial & Compliance Services – December 7, 201216
  17. 17. Ordinary EBITA Margin impacted by investment and mixed trends in transactional revenues F&CS Ordinary EBITA (€ millions) CAGR 6%* Margin impacted by  Investment in new product development  Investment in global expansion  Decline in Transport Services marginMargin(%) 20.9 22.5 21.4 20.3 19.1 *CAGR 6% at constant currency and 5% at reported currency Financial & Compliance Services – December 7, 2012 17
  18. 18. Mission: Global Provider of Finance, Risk, Audit & Compliance Solutions Knowledge delivered via technology and augmented by unparalleled consulting expertise TECHNOLOGY  Scope and scale to deliverCONSULTING & SERVICES solutions worldwide 400+ in-house experts  8-10% of earnings Best practices infused reinvested in product into products and development each year implementation  Saas-based systems Complete outsourced programs, including BPO KNOWLEDGE  Leading content breadth and change tracking  Relevant, actionable, applied  Real-time marketplace knowledge Financial & Compliance Services – December 7, 2012 18
  19. 19. Global risk technology spend Spending on risk solutions outpacing overall Financial Services IT spend Global Risk Spend - $27B • Compliance and controls 12 spend includes reporting (Basel II, III, IFRS, Sox, Audit and other 10 compliance solutions) ALM & Enterprise Credit Risk Liquidity Risk • Spend growth rates vary by Management 8 region • APJ 10% CAGR5 year CAGR • China 18% CAGR 6 • EU and Americas Compliance approximately 7% & Controls 4 • Across all areas, 65% of the spend will be for risk analytics and data 2 management technology Overall FS IT • Spend growth rates Spending for risk analytics – 9 % 0 Growth CAGR 0 2 4 6 8 10 12 14 • Data management – 14% CAGR Size of Market in USB Sources: Wolters Kluwer Financial Services based on IDC Financial Insights 2011 Risk Technology Spend, Chartis 2011 Global Risk IT Expenditure, 2012 IDC commissioned research – include relevant risk areas for banking, software and services spend for monitoring, reporting and data management . 19 Financial & Compliance Services – December 7, 2012
  20. 20. Competitive landscape Wolters Kluwer, a leader combining knowledge, technology and services Archer/ IBM Strong EMC Competitors, providing Primarily Content SunGard FIS FiServ Primarily TechnologyTechnology Strength Axiom Primarily Services Moody’s Thomson* Wolters Kluwer MetricStream Content + Technology + UFIDA Services Harland Pentana Misys Approximate revenues: Audit MKinsight QRM Big 4 Leverage $250M – $1B $1B+ Independent Auditors <$10M $10M- CSi $250M Local IT Weak shops Weak Domain Expertise Strong (Audit, Finance, Risk & Compliance) * Thomson Reuters Accelus only Financial & Compliance Services – December 7, 2012 20
  21. 21. Market drivers Economic and regulatory pressure turn Wolters Kluwer F&CS into a mission-critical provider to our customers F&CS well-positioned toEnvironment Customer Challenges solve these challenges  Unique combination of  Increased complexity Increased specialized around global risk & regulatory knowledge, technology and compliance demands services  Resources Economic  Comprehensive and deeply diverted, challenging pressures embedded expertise the institution’s ability to deliver  Growing international footprint profitable growth  Leading financial services and  Need for operational audit position efficiency  Knowledge-rich technology Financial & Compliance Services – December 7, 201221
  22. 22. Increased regulatory complexity Financial Services industry facing perfect storm of regulations (Illustrative) 1990 2020 IFRS Global Basel I Basel III Basel II Regional Mifid Solvency II IAS e.g. EU EU Anti Money Laundering EMIR National/ International Sarbanes- Japan’s Financial Supervisory Agency regulation Anti-Bribery Act Oxley Patriot Act Reserve Bank of India’s country Monetary Authority of Singapore regulation Automated Data Flow(examples) Bank Secrecy Act Dodd-Frank US State Banking Laws State & City, county, municipal regulations Local Statutory, Prudential, Statistical, Transactional reporting requirements Financial & Compliance Services – December 7, 2012 22
  23. 23. Where we are positioned Our strong position in Middle and Back Office puts us in pole position to help financial institutions make better decisions Executive board decision-making ENTERPRISE RISK MANAGEMENT PERFORMANCE MANAGEMENT Where contracts are made, e.g. bank middle office or broker front office Where contract data is aggregated, so that risk & performance can be tracked and audited, regulatory reports filed, etc (mainly back-office) Financial & Compliance Services – December 7, 201223
  24. 24. Our strategic prioritiesThree strategic goals Establish global leadership Broaden risk management solutions Deliver comprehensive, embedded, knowle dge-rich solutions Financial & Compliance Services – December 7, 201224
  25. 25. Financial & Compliance Services Division Ken Newton CEO Originations & Compliance25
  26. 26. Originations & Compliance: summary Market leading U.S. compliance workflow position ENTERPRISE RISK MANAGEMENT PERFORMANCE MANAGEMENTOriginations &Compliance 26 Financial & Compliance Services – December 7, 2012
  27. 27. Originations & Compliance: product offerings Extensive range of solutions based on industry standard content U.S. Banks, Lenders and Credit Unions Consumer Lending  Commercial Lending  Residential Lending  Indirect Lending  Deposits  Small Business Lending  Individual Retirement Accounts  Financial & Compliance Services – December 7, 201227
  28. 28. Originations & Compliance: market trends Leading U.S. compliance position enables us to quickly respond to evolving U.S. regulatory demands Customer Challenges Opportunities for F&CS Environment  Manage complexity of  Leverage leading position to Dodd Frank, e.g. expand into adjacent Increased default rules regulatory areas, such as default risk demands  Address margin  Expand end-to-end workflow pressure in mortgage capabilities for commercial Economic and consumer lending; pressures lending focus on commercial lending and other  Create scalable and globally more profitable extensible solutions to support product lines all customer tiers  Improve operational efficiency without adding risk Financial & Compliance Services – December 7, 201228
  29. 29. Case Study: Disclosure Manager Solving an inefficient, costly, highly-regulated process for lendersDisclosure Manager 2a. Secure e-Delivery 2b. e-Consent 1. Disclosure Generation4. Receipt, Audit & 3b. Receipt and wet Recordation signature 3a. Print and Mail Delivery Financial & Compliance Services – December 7, 2012 29
  30. 30. Case Study: Default Servicing solution Wolters Kluwer addresses critical elements of default servicing Lending Segments Residential – C&I – Credit Card – Student - Personal - Auto Loss Asset Asset Collections Bankruptcy Mitigation Acquisition Disposition Collections Loan Mods Pre- Bankruptcy Real Estate Guide Foreclosure filing Owned – Workout or Mortgage Vendor Attorney Processing Repossession Origination Compliance Document and Foreclosure Management Eviction Collection Approvals Affidavits documents Letters Document Foreclosure Collateral Tracking Filings Tracking Repossession Title and Doc Prep Lien Clearing Professional Services - BPO – Fulfillment – Secure Delivery Financial & Compliance Services – December 7, 201230
  31. 31. Financial & Compliance Services Division BREAK31
  32. 32. Financial & Compliance Services Division Raffi Festekjian CEO Finance, Risk & Compliance32
  33. 33. Finance, Risk & Compliance: product offeringsWe provide a range of solutions to banks, insurance and securities firms Solutions for: Banking Insurance Securities Compliance management    Regulatory reporting   Financial risk   Enterprise risk management    Regulatory content and research    Performance analytics  Finance  Investment compliance  Financial & Compliance Services – December 7, 201233
  34. 34. Finance, Risk & Compliance: summary Leading regulatory position anchors broader risk and performance management value proposition Finance, ENTERPRISE RISK MANAGEMENT Risk & PERFORMANCE MANAGEMENTCompliance Finance, Risk &Compliance 34 Financial & Compliance Services – December 7, 2012
  35. 35. Finance, Risk & Compliance: market drivers We are a mission critical provider for financial institutions globally Opportunities for F&CS  Leverage deep risk & Environment Customer Challenges compliance position and breadth of offerings to capture  Multi-national and transformational opportunities Increased global risk and regulatory regulatory complexity  Build on combined data model demands  Need for holistic view to extend risk solutions into key of risk and adjacent areas Economic pressures performance for  Leverage local regulatory decision-making expertise to manage global and  Need for operational regional mandates efficiency without risk  Extend into predictive analytics, enabling improved, data-driven decisions Financial & Compliance Services – December 7, 201235
  36. 36. Case study: FRSGlobal + FinArch The advantage of building off a single source of dataALMBasel II & Basel IIISolvency II Basel Regulatory ReportingConcentration Risk IFRS FINREPLiquidity Risk Local Regulatory ReportingCredit RiskMarket Risk Transaction ReportingEconomic CapitalCVA Accounting GeneratorCost Allocation IAS/IFRS AccountingCustomer & Product ConsolidationProfitability General LedgerRisk-adjusted Performance Sub-ledgerTransfer Pricing Trading Ledger Financial & Compliance Services – December 7, 201236
  37. 37. Case study: FRS Global + FinArchCombination feeds higher value needs around risk & performance CEOs & Boards of Directors ENTERPRISE RISK MANAGEMENT PERFORMANCE RISK MANAGEMENT Finance, Risk and Compliance Functions FRSGlobal / FinArch Financial & Compliance Services – December 7, 201237
  38. 38. Case study: Enterprise Risk Management Modular solution underpinned by common platform services ENTERPRISE RISK MANAGEMENT PERFORMANCE RISK MANAGEMENT Financial & Compliance Services – December 7, 201238
  39. 39. Financial & Compliance Services Division Ian Rhind CEO Audit39
  40. 40. Audit, Risk & Compliance: position TeamMate focused on core back office function ENTERPRISE RISK MANAGEMENT PERFORMANCE MANAGEMENT Audit, Risk &Compliance Financial & Compliance Services – December 7, 2012 40
  41. 41. Audit Management Software Five integrated modules within TeamMate A COSO-compatible risk A state of the art tool for assessment tool for generating scheduling your staff and audits risk based audit plansA web based issues tracking Effectively manage budgetand reporting system vs. actual time & expenses A Comprehensive Electronic Work Paper system Financial & Compliance Services – December 7, 2012 41
  42. 42. Audit: Market drivers Need for efficiency and productivity is driving demand for proven internal audit solutions Opportunities for F&CS Environment Customer Challenges  Grow share in existing  Need for evidence- markets with purpose-built Increased based record to audit solution regulatory document compliance demands  Leverage global footprint to  Need for efficiency gain share in fast-growing Economic geographies  Reporting to manage pressures audit risk  Extend offering to adjacent  Analytics for real-time markets, such as financial issues management controls  Extend capabilities in data analytics, content & community Financial & Compliance Services – December 7, 201242
  43. 43. Case study: TeamMate Compliance and Audit Management Compliance Audit Management Library Management source* Control Risk Assessment Dimensions Assessment (org hierarchy) Risk Self Control Self- Assessment Assessment Users Audit Plan- Projects Taxonomy Scheduling Control Testing Issue Audit * Source refers to Tracking Testingcommon knowledgebase of Risk/Control Libraries used by Certifications Dashboards Audit both Compliance Reporting and Internal Audit Financial & Compliance Services – December 7, 2012 43
  44. 44. Financial & Compliance Services Division Ken Newton CEO Transport Services44
  45. 45. Transport Services: product offering Marketplace-powered TMS provider Freight Exchange Transport Management Software (TMS)Offerings: Pan-European freight Offerings: End-to-end workflow offerings forexchange network transport operationsBrands: Teleroute, Bursa, Nolis Brands: Transwide, Tivios, TAS Financial & Compliance Services – December 7, 2012 45
  46. 46. Transport Services: market trends A challenging environment for European road transportCustomer challenges European Road Freight Market Trends European economic recession Road Freight Volume Europe Steady decline in European road freight Teleroute Rolling 12 months FX freight posting volumes in past four years Rolling 12 months truck registrations High oil prices 120 Rise of lower cost transporters from 100 Eastern Europe Shift from spot to contractual freight 80Market trends 60 Teleroute freight postings decline 40 Increased competition Demand for Transport Management 20 Software still dynamic Financial & Compliance Services – December 7, 2012 46
  47. 47. Transport Services: strategy Move towards integrated enterprise workflow solutions Broaden the approach of Transport Services to cover enterprise- wide needs of players in the transport industry Provide integrated workflow solutions that  Connect industry partners, shippers, carriers, logistics companies  Integrate data and business intelligence to enable customers to plan better, thus saving them money  Enable deeper integration with customers’ IT systems Financial & Compliance Services – December 7, 201247
  48. 48. Case study: Teleroute Collaboration – Company, Partner and Open ExchangeLeading pan-Europeanmarket position Over 70,000 users daily in 36 countries across Europe and beyond Over 250,000 real-time offers every day; more than 1M tons traded daily Reliable services with 99.98% availability Financial & Compliance Services – December 7, 201248
  49. 49. Financial & Compliance Services DivisionNancy McKinstryCEOWolters Kluwer49
  50. 50. Conclusions F&CS has strong market positions in fast growing segments of the financial services solutions market and is attaining note-worthy global scale F&CS’ strategy is closely aligned with that of Wolters Kluwer  Creating value from combination of deep domain-expertise, technology and services.  Investing in innovation and globalization, whilst seeking operating efficiencies. Outlook for 2012:  Good growth in Financial Services overall, and in Audit, but continued weakness in Transport Services.  Margins will reflect investments in new growth initiatives and global expansion 50 Financial & Compliance Services – December 7, 2012
  51. 51. Financial & Compliance Services Division Q&A51

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