Annual Report • 2013 46 29 30 31 32 33 43

2012Annual | 2013 Report We believe in the power of education and the incredible potential of Indigenous youth. As the fastest growing demographic group in Canada, our youth are positioned to achieve their dreams and significantly contribute to Canada’s economy.

Roberta L. Jamieson, President and CEO, Indspire Executive Producer, Indspire Awards Annual Report • 2013 46 29 30 31 32 33 43 ...... Annual Report 2012-2013 | 1 Annual Report ......

...... Awards Indigenous Educator Indigenous Education Promoting the Journey: Guiding Institute: Indspire Our Partners and Staff of Directors Board Appendix: Financial Statement New This Year This New Gathering for National Education Indigenous 4 7 8 2 3 17 22 23 28 ......

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Industry in the Classroom: Industry Career Seminars...... Indigenous Youth Indspire Awards: ...... Indigenous Youth Mentoring Building Brighter Futures: Futures: Building Brighter Awards Bursaries and Scholarship ... Career Conferences Indigenous Youth Soaring: ... Achievement Celebrating Indigenous Success: Rivers to Table of Contents Table ...... and CEO the President from Message do we and What are Who we Our Programs Message from the Chair from Message This has been a tremendous year of accomplishments for In the spring we were delighted that the federal government Indspire. Our work is made possible through the support budget included $10 million in new funding over the next and generosity of our many funding partners, sponsors and two years to match our fundraising efforts. This is a tangible individuals. Our achievements continue to grow and make a endorsement of our strategic direction and a strong vote of difference by advancing Indigenous achievement in Canada confidence in our mission. This will help us help even more through education and the celebration of excellence. Indigenous youth achieve their personal best through education and skills development so that they can take their rightful place We enrich the lives of thousands of Indigenous learners in the Canadian economy. through the strong strategic leadership offered by our dedicated volunteer board of directors and the work of our Indigenous youth remain the fastest growing demographic in talented and skillful staff under the insightful leadership of this country. Together, our partners, board of directors and staff our President and CEO, Roberta L. Jamieson. are transforming Indigenous education in Canada and closing the gap in educational attainment for Indigenous young people. Our board of directors is comprised of a diverse group of It is a privilege for me to Chair this remarkable organization. professionals and leaders in their own right. Each member I am grateful and indebted to our distinguished directors for brings their talents, commitment and influence to provide their wise counsel, our partners for their support and to our guidance and support to our mission. This year we bid adieu staff for their dedication to Indigenous achievement. Message to retiring board member, Ian Sutherland, who provided sage advice and helped guide our activities since 2006. We were David Tuccaro from the also privileged to welcome the skills and wisdom of our newly Chair, Board of Directors elected board members: Shawenniio Barnes; Joseph D. Dion; Fauna Kingdon; Jean La Rose; Chief Clifford Moar; and the Chair Honourable Gerry St. Germain, P.C.

Indspire continues to be the largest non-government funder of Indigenous education. To date, our Building Brighter Futures program has awarded more than $54 million in bursaries and scholarships to 16,000 First Nation, Inuit and Métis students nationwide.

42 | Indspire AnnualAnnual Report Report • 2012-2013• 2013

Roberta L. Jamieson Roberta Annual Report 2012-2013 | 3 Annual Report President and CEO, Indspire and CEO, President Guiding the Journey: Executive Producer, Indspire Awards Indspire Producer, Executive with educators, scholars, parents and students, which was which was and students, parents scholars, with educators, We also to life. Institute the Indspire in bringing instrumental partners, founding support of our Institute’s the appreciate Family McConnell of Canada, the J.W. the Government CIBC, Suncor the and Ontario, of Manitoba Provinces the Foundation, and the Winnipeg Inc. Foundation Tachane Foundation, Energy this and make staff our to grow for helping us Foundation, possible. initiative breaking ground National ever first hold the to thrilled were In the spring we we There, in Calgary. Education Indigenous for Gathering from educators Indigenous than 200 more together brought practices effective and share learn, network Canada to across Indigenous and promoting learners Indigenous educating for their for educators 12 incredible also recognized We knowledge. Indigenous young success of to the contributions and inspiration a them received of Each students. presented by His Excellency the His Excellency by Award presented Indigenous Educator of Canada. General Governor Johnston, David Honourable Right and the incredible of education in the power believe We growing fastest youth. As the of Indigenous potential to positioned are in Canada, our youth group demographic to Canada’s contribute and significantly their dreams achieve which our annual report review to you I invite economy. achieved have we that accomplishments the many highlights and support, encouragement the tremendous with this year and individual donors, sponsors partners, of our influence and our of directors board and spirited our dedicated staff. and capable knowledgeable and time. Indigenous support, influence lending your Join us by Future. Canada’s education,

, but we were were , but we Indspire Institute: Building Brighter , our online community of , our online community gala, held in February held in February Indspire Awards gala, resources and tools for educators, parents, students and students parents, educators, for and tools resources from students Indigenous for the outcomes improve to others the learned advice for grateful are 12. We grade to kindergarten consultation during our two-year received we and counsel only able to meet 16.5 per cent of those requests. 16.5 per cent meet only able to commitment government’s the federal welcomed we why That’s funding, announced in its spring budget. of $10 million in new with investments funding that match our plan to This endorses Indigenous more reach help us to sector the private from begun to have we this commitment, meet To students. to reaching out by efforts, our fundraising accelerate individual Canadians. Our dazzling 20th annual all of Canada. reach out and to our promise fulfill also pleased to were We high school. We graduate students Indigenous help more and launched the our website redesigned Promoting Indigenous Education in Saskatoon, celebrated the remarkable achievements of achievements the remarkable celebrated in Saskatoon, incredible Canadians including three Indigenous 14 spectacular honour the the highest are awards Our prestigious youth. who stand upon its achievers, bestows community Indigenous youth. Our celebration for our role models out as positive communities and to their their contributions showcases This has been an exciting year for all of us at Indspire and for for and at Indspire for all of us year an exciting This has been year full been a It’s education. in Indigenous involved everyone and opportunity. development of growth, committed are donors and individual sponsors Our partners, our work. to their support extended our mission and have to and dedication generosity result of their as a year, This fiscal $12 million, a almost raised we education, Indigenous to There year. fiscal the last over increase overall 3.5 per cent our to applicants than 2,200 more were Futures: Bursaries and Scholarship Awards and CEO from the from Message Message President Who WE ARE and What WE DO Who We Are and What We Do

We are the largest non-government funder of education Conferences and provide mentoring opportunities for Indigenous students. Since 1985, we have awarded through Rivers to Success: Mentoring Indigenous Youth.

more than $54 million to 16,000 Indigenous students. Our Indspire Institute offers a one-of-a kind, online Who We Are and What We Do We recognize positive role models through our annual community for educators, parents, students and others Indspire Awards: Celebrating Indigenous Achievement, with a wealth of resources and tools to reach students open doors to career knowledge for Indigenous from kindergarten to grade 12 to help them to graduate youth through our Soaring: Indigenous Youth Career high school.

“Indigenous youth are the fastest growing demographic group in Canada, yet their failure to graduate high school is a tremendous loss to the Canadian economy. Our youth have the potential to contribute their talents and skills to their communities and the rest of Canada. We are here to help them succeed.”

Roberta L. Jamieson, President and CEO, Indspire Executive Producer, Indspire Awards

Annual Report 2012-2013 | 5 Indspire, formerly the National Aboriginal Achievement Foundation, is a national charity and the largest non-government funder of post secondary education for Indigenous students across Canada. Indspire is dedicated to raising funds that deliver programs and provide tools for Indigenous people, especially youth, to achieve their personal best.

INDSPIRE HAS PROVIDED INDIGENOUS YOUTH ARE THE MORE THAN FASTEST GROWING DEMOGRAPHIC GROUP IN CANADA

$ EDUCATION IS A 54 POWERFUL KEY TO ALMOST MILLION UNLEASH THE IN SCHOLARSHIPS AND BURSARIES TO TREMENDOUS POTENTIAL OF 16,000 INDIGENOUS YOUTH INDIGENOUS YOUTH % INDIGENOUS YOUTH ARE 50of the Indigenous LEAST LIKELY population is TO COMPLETE HIGH SCHOOL under the age of 24 Statistics Canada census year 2006

6 | Indspire Our PROGRAMS Building Brighter Futures: Bursaries and Scholarship Awards Indspire is able to obtain and disburse much-needed financial support through its Building Brighter Futures: Bursaries and Scholarship Awards program by partnering and engaging some Bursaries and Scholarship Awards of Canada’s leading companies, public agencies, professional and labour groups and individual donors. We continue to be grateful for their generosity, commitment and belief in the potential of First Nation, Inuit and Métis students.

Thanks to them, Indspire is the largest supporter of Indigenous education outside the federal government. Indspire disburses funds to Indigenous youth across Canada, covering all disciplines in several funding streams, including Fine Arts, Oil and Gas and Trades and Technology, Health Careers and Post Secondary Education.

Total Scholarships and Bursaries awarded from 2006-2007 – 2012-2013 Awarded to Recipients 2012-2013 $5,182,546 2,050*

2011-2012 $6,288,735 2,220

2010-2011 $5,436,700 1,799

2009-2010 $4,934,586 1,395

2008-2009 $4,736,286 1,341

2007-2008 $3,454,000 951

2006-2007 $2,991,895 716

*Overall we raised 3.5 per cent more in funding this fiscal year over last, however, our funding support for the Building Brighter Futures: Bursaries and Scholarship Awards was reduced as a result of lower government funding and lower market performance of the invested restricted scholarship funds.

8 | Indspire What are Bursary and Scholarship Students Studying? “Each one of us has Here’s a snapshot of what our students were studying in a unique potential to 2012-2013:

be achieved and with MBA 12 Pharmacy 19 support, anything Engineering 23 is possible.” Oil and Gas Trades 33

Roberta L. Jamieson, Social Work 43 President and CEO, Indspire Executive Producer, Indspire Awards Nursing 233 Business and Commerce 49 Our Programs

PhDs 73

Masters 180

Law 92

Medicine and Dentistry 143

Education 114

Annual Report 2012-2013 | 9 Summary of Bursary and Scholarship Recipients for 2012-2013

Program # of Total Amount # of Awards Total Awards Category Applicants Requested provided from provided from available funds available funds*

Fine Arts 78 $916,485 72 $103,000 Health Careers 651 $11,853,878 615 $3,048,725 Post Secondary 1499 $19,001,143 1323 $1,922,521 Education OGTT 43 $266,173 40 $108,300 Totals 2271 $32,037,679 2050 $5,182,546

*This year, while we received more than 2,200 applications for our Building Brighter Futures program, we were able to meet only 16.5 per cent of those requests.

10 | Indspire Indspire Bursaries and Scholarships Reach Students Across Canada Indigenous youth from across the vast reaches of Canada are benefiting from Indspire’s bursaries and scholarships. In 2012- 2013 alone, Indspire provided almost $5.2 million to support 2,050 Indigenous learners.

Bursaries and scholarship recipients in 2012-2013 hailed from as far north as Iqaluit, Nunavut and Fort Providence, Northwest Territories, as far east as Bishop Falls, Newfoundland, as far south as Waterford, Ontario and as far west as Nanoose Bay, British Columbia. Our Programs

Annual Report 2012-2013 | 11 Where Students Are From (2012-2013) Here’s where some of Indspire funded students are from:

The Pas MB Okotoks AB Lac La Biche AB Anahim Lake BC Fort Simpson NT Quesnel BC Pelly Crossing YT Lee Creek BC La Ronge SK Saskatoon SK Behchoko NT Lloydminster SK Yellowknife NT Edmonton AB Thompson MB Martensville SK Moose Factory ON Red Deer AB Whitehorse YT Carrot River SK Upper Tantallon NS Cache Creek BC Prince George BC Wendake QC Kehewin AB Shubenacadie NS Meadow Lake SK Timmins ON Kamloops BC Septiles QC Nanaimo BC Havre Boucher NS Cold Lake AB Temiscaming QC Skownan MB Thunder Bay ON Portugal Cove St. Philips NL Port Hawkesbury NS Kingston ON Glace Bay NS St. Jean Chrysatome QC Wedeport NS Bishop Falls NL Lower Sackville NS Sioux Lookout ON Gatineau QC Pilot Mound MB Ohsweken ON Kingston ON Winnipeg MB Regina SK Akwesasne QC Selkirk MB Waterloo ON Kitchener ON Montreal QC Hamilton ON

12 | Indspire Building Brighter Futures: Bursaries and Scholarship Award Students

Lynn Kilabuk “I chose to study teaching because I want to help build Nunavut my community and be a great leader. I have always Innu worked around children and knew it was a career for Lynn Kilabuk has a passion for helping children. Her me. There is a high rate of dropouts in our high school dream to become a teacher is now within reach as she is and I believe introducing new programs and activities completing a Bachelor of Education program at Nunavut can enhance the child’s possibilities for the future.” Arctic College.

Tyson Bull “My dream is to become either a Crown prosecutor Saskatchewan or a criminal defense lawyer. In becoming a lawyer First Nation I hope to serve as an example to other young Métis Our Programs Tyson Bull is in the Juris Doctor program at the and Aboriginal people that higher education and University of Saskatchewan and shares some inspiring academic achievement is possible. This past year was words on perseverance. the hardest I’d ever worked at anything. All my life I have been so afraid of failure that I’d never really tried to do anything challenging. I know it sounds cliché, but this year I discovered that if I put in the effort, I can do better than I ever dreamed possible.”

Braddon Taibossigai “I am a journeyman welder (Red Seal) and have been Ontario in the trade since the summer of 2003. I love what I do First Nation and enjoy the work a lot. In today’s world, a trade can Braddon Taibossigai, who is currently completing the take you a long way. It is fun and a fantastic way of Welding program at the Southern Alberta Institute of meeting new people to work with.” Technology, encourages other Indigenous students to take up a trade.

Annual Report 2012-2013 | 13 Doreen Saulis “I want to focus on how it impacts our capacity to New Brunswick pursue and be successful within employment, training, First Nation education and the broader learning agenda. My focus In her final year of a two year Master of Education is on a holistic perspective of Aboriginal literacy.” program at the University of New Brunswick, Doreen Saulis wants to contribute to a broader understanding of how Aboriginal literacy has an impact on the social, economic, health and spiritual aspects of Aboriginal people.

Tommy Moar “I am eager to finish my studies to be able to do my part First Nation to inform people so they better understand the stakes Québec for us. That is my motivation, my expectations and my Tommy Moar is in his final year of a three year Bachelor dreams in terms of my studies. I want to work for the of Arts in a Social Communication program at the Atikametkw Nation Council, because I believe that is Université du Québec à Trois-Rivières. where I will be able to make a difference.”

Willow Thickson “The more I understand how important physical activity, British Columbia nutrition, and health is for me, the more I want to Métis know how to inform others. I have started spreading Willow Thickson, a Human Kinetics in Kinesiology student my knowledge to my sister, who like a lot of Aboriginals, at the University of British Columbia has set her sights on has diabetes. After realizing that not only do becoming a leader in the health field. Aboriginals as a Nation have large problem with overall health issues, they also have a lack of health leaders. I hope one day that will be me.”

14 | Indspire Parry Burnstick “I chose ironworking as my trade and I love it. The thing Alberta I find most rewarding is knowing that my handiwork First Nation will still be standing long after I’m gone. Just think As the recipient of an Oil and Gas Trades and Technology that a young man, 26 years old, from a small reserve is bursary, Parry Burnstick recently completed his Period 1 building huge things! I’d love to see more Indigenous Ironworker program at the Southern Alberta Institute of youth doing what I do and enjoying it as much as I do.” Technology.

Baylie Sinclair “Pharmacists are the most accessible health care Saskatchewan professionals which is very appealing to me. I find that I Métis can form relationships with patients and enhance their Baylie Sinclair’s patience and perseverance in completing quality of life whether they are suffering from acute a five year Bachelor of Science in Pharmacy program at or chronic conditions. I feel my personal attributes of the University of Saskatchewan will be for the benefit of patience, problem solving skills, communication skills, Our Programs her clients. and gentle nature would be a great benefit for my pharmacy career.”

Desiree Pachkowski “I have chosen to pursue my education in Business Manitoba to better myself and my community. My upbringing Métis has inspired me to rise above my circumstances and Desiree Pachkowski, an honour student in the University pursue a higher education while staying connected of Manitoba’s Bachelor of Commerce program has a to my community. My own difficulties experienced fierce drive to succeed. in overcoming obstacles to achieve my dreams have naturally compelled me to assist others experiencing similar situations.”

Annual Report 2012-2013 | 15 Tyler Ayers “I have always been taught that with hard work and Saskatchewan dedication to the project at hand, any goal can be First Nation reached. I have been challenged in many areas, from An honour student and a determined young man, Tyler academic to moving away from home. I believe that Ayers is completing his Bachelor of Science in Engineering I have risen to these challenges and have learned (Electrical) program at the University of Saskatchewan. new things as well as gained knowledge from my experiences at university.”

Adam Russell “With the support I have been given from Indspire, as Ontario well as my family, friends and community, it is my First Nation dream to open a wellness centre and offer affordable Adam Russell wants to become a chiropractor so that he health care to everyone. It is my lifelong goal to give can provide health care to the people of his community. back to the community that has helped me every step of the way.” Russell is halfway to reaching his goal of completing a four year Doctor of Chiropractic program at the Canadian Memorial Chiropractic College.

Jodi-Lyn Rask “Every human being should have fair access to housing, Saskatchewan education, clean drinking water, and a health care Métis system that is accessible regardless of location or Jodi-Lyn Rask, a student in the Bachelor of Science in race. As a nurse, I hope to be able to provide some of Nursing program at Grant MacEwan University believes these services to help better the lives and health of in social justice. the Aboriginal population and to help empower and educate all women who experience racial oppression so that both they and their children have the potential to experience a healthy life.”

16 | Indspire Soaring: Indigenous Youth Career Conferences This year, we were thrilled to welcome a total of 1,588 participants at the three Soaring: Indigenous Youth Career Conferences we held Indigenous Youth Career Conferences in Calgary, Montreal and Saskatchewan. Our career conferences are important events where Indigenous high school students are provided with valuable resources and information on careers within a lively and entertaining environment. Students receive practical advice on career opportunities and planning, as well as current and future educational requirements. They are also given

an opportunity to speak to industry leaders and employers. Our Programs

Annual Report 2012-2013 | 17 “It was great to reach out to First Nation, Inuit and Métis youth. Likely when the conference returns to Alberta, we will participate again.”

Soaring exhibitor

Calgary, Alberta

In Calgary on May 8, 2012, approximately 500 students, an opportunity to choose between 40 workshops chaperones, speakers and exhibitors attended the covering a range of occupational fields. At the trade show, career conference. Students ranged in age from students spoke to representatives of 32 organizations to 13 to 20 years and hailed from all across Alberta, learn more about career opportunities. Saskatchewan and British Columbia. They were offered

When asked what the most valuable part of the day What we heard from our trade show exhibitors: was, students commented: “The event did well at engaging the students “Learning new knowledge and inspiration to pursue who attended.” my dreams.” “It was great to reach out to First Nation, Inuit and “Knowing a lot of people want Indigenous high school Métis youth. Likely when the conference returns to students to reach what they want to be.” Alberta, we will participate again.”

“Learning about the different careers and the success the speakers have achieved.”

“Realizing that others care about our education.”

18 | Indspire “Because it helps us realize that we are not alone and that we do have what it takes to be successful.”

Soaring youth participant

Montreal, Quebec

On November 6, 2012, a total of 500 participants an opportunity to participate in 43 workshops in both Our Programs attended the career conference. Indigenous students English and French and speak to some of Canada’s top aged 13 to 20 years and chaperones travelled from across corporate and Indigenous business leaders at 38 trade Quebec, New Brunswick, Ontario and the Northwest show exhibits. Territories to participate in the event. They were given

When asked why Indspire should continue to host career What we heard from our Trade Show exhibitors: conferences, students at the Montreal event responded: “This was a top notch, class act youth conference!” “Because it’s a lot of great information and it gives people the chance to talk about different schools and “A win-win situation or all parties involved.” career opportunities.” “This was a high energy event! The students seemed “Because it helps us realize that we are not alone and happy and enthusiastic.” that we do have what it takes to be successful.”

“It was a big eye opener for me.”

Annual Report 2012-2013 | 19 “I found it to be a very positive experience, and was pleasantly surprised at how engaged the students were and the number of them who already knew what they wanted to do for post secondary education.”

Soaring exhibitor

Saskatoon, Saskatchewan

In total, more than 950 Indigenous youth and their The youth career conference was held on February 13 chaperones participated in theSoaring: Indigenous and attended by more than 580 students aged 13 to Youth Career Conference which was held from 20 years, who had travelled from all across Saskatchewan, February 13 to 15, 2013, in conjunction with the Alberta, Manitoba, British Columbia and the Northwest Indspire Awards gala celebrations. Territories. Students were provided with an opportunity to participate in 42 workshops offered in a wide variety of subject areas and to visit and learn from representatives of the 40 exhibitors at the Trade Show.

When asked why Indspire should continue to host One exhibitor at the Saskatoon Trade Show said: career conferences, students from the Saskatoon event commented: “I found it to be a very positive experience, and was pleasantly surprised at how engaged the students were “It can change lives and guide Aboriginal kids across and the number of them who already knew what they Canada into their future.” wanted to do for post secondary education.” “It gives us motivation and helps us see what we can do in our future.”

“It inspires young adults to do more and believe that they can do it.” 20 | Indspire On February 14, we held a youth day where 285 students were given the opportunity to experience and to see firsthand what it would be like to attend a post Our Programs secondary institution at the University of Saskatchewan and the Saskatchewan Institute of Applied Sciences and Technology (SIAST).

On February 15, for the second time in our history we gave younger students an opportunity to peek behind the curtain of our high energy, professionally produced gala awards show. More than 75 Indigenous students from grades four and five saw how the awards show was put together and met with producers, singers, dancers, sound technicians and engineers to learn about the different career opportunities involved in producing the nationally broadcasted annual Indspire Awards show.

Annual Report 2012-2013 | 21 Industry in the Classroom: Indigenous Youth Career Seminars Our youth career seminars are delivered in high school classrooms across Canada. The interactive and informative programs offer career insights and help students make solid Indigenous Youth Career Seminars career choices. These learning modules have been developed in consultation with our government partners and corporate sponsors to offer career insights into the career fields of health, justice, mining, radio, railway, television, transportation and environmental health.

These modules are available to high schools across Canada and are also delivered as a session at our Soaring: Indigenous Youth Career Conferences.

22 | Indspire Indspire Awards: Celebrating Indigenous Achievement This year we celebrated 20 years of recognizing Indigenous achievers from across Canada. Originally introduced in 1993, as part of the United Nation’s International Decade of the World’s Indigenous People, the Indspire Awards represent the highest honour the Indigenous community can bestow upon its achievers in a variety of disciplines.

These prestigious awards and their recipients provide their communities and to Canada. This year, during the positive and inspirational role models for Indigenous 20th anniversary, we celebrated the achievements of youth and inform Canadians about the rich contributions Indigenous young people by expanding the youth awards Indspire Awards that First Nation, Inuit and Métis people have made to and recognizing three remarkable youth.

Annual Report 2012-2013 | 23 Inspirational Role Models

Celebrating Indigenous Achievers

“Each recipient of the The 20th annual Indspire Awards gala took place in Saskatoon, Indspire Award is an Saskatchewan on February 15, 2013. This milestone anniversary inspirational role model gala honoured 10 career category recipients, three youth that Indigenous youth can recipients, and one lifetime achiever. This was a special year as it aspire to be. They lead was the first time ever that we recognized First Nation, Inuit and by example and demonstrate Métis youth for their many accomplishments and contributions. to all Canadians that any With performances by Terri Clark, A Tribe Called Red, Burnt Project 1, and Sherry St. Germain the talent of Canada’s goal is achievable.” Indigenous people took centre stage to celebrate the outstanding contributions of our 2013 Indspire Award recipients.

Roberta L. Jamieson, President and CEO, Indspire Executive Producer, Indspire Awards

26 | Indspire This year we were delighted to be able to recognize the following Indigenous achievers with a prestigious Indspire Award:

Jacqueline Guest Winston Wuttunee – Arts – Culture, Heritage and Spirituality

Alex Van Bibber – Lifetime Achievement Shawn A-in-chut Atleo Ruby Jacobs – Education – Health

Viola Robinson Charlie Evalik Gail Cyr – Law and Justice – Business and Commerce – Public Service Indspire Awards

Theoren Fleury Gabrielle Scrimshaw – Sports – Youth, First Nation Lloyd (Sonny) Flett – Environment and Natural Resources

Elizabeth Zarpa Graham Kotowich – Youth, Inuit – Youth, Métis

Duane Smith – Politics

Annual Report 2012-2013 | 27 Rivers to Success: Mentoring Indigenous Youth This year due to the success and the remarkable reception we received from our mentorship pilot, we have added Rivers to to success Success: Mentoring Indigenous Youth as a permanent Indspire Mentoring Indigenous Youth program. The program was launched with the generous support of CIBC and Sandra Rotman. It pairs Indigenous students in the third and fourth years of post secondary education with mentors from diverse fields to help ensure that the students have a successful transition into the workforce.

This year the program ran from September 2012 to April 2013. The cohort consisted of 24 volunteer mentors who offered their skills and expertise to 24 receptive young learners. The mentors’ diverse skill sets spanned the specialized areas of education, business, medicine, law and the arts.

Mentorship has the power to transform the path of an Indigenous student’s life. This year we learned that regardless of whether you were an engineering student from Calgary, a law student from Labrador, or an arts student from Kelowna, mentorship sets the stage for new ideas, the passing on of wisdom and expertise, and most importantly provides inspiration for all involved.

28 | Indspire New this YEAR National Gathering for Indigenous Education Educators from across Canada gathered on March 15 and 16, 2013 in Calgary for Indspire’s first ever National Gathering for Indigenous Education. The gathering included 25 workshops for educators to share best practices in Indigenous teaching and learning, present new research in the field and provide opportunities for networking among educators from coast-to- coast-to-coast.

30 | Indspire Guiding the Journey: Indigenous Educator Awards On March 15, 2013, the following individuals were honoured and presented with Guiding the Journey: Indigenous Educator Awards by His Excellency the Right Honourable David Johnston, Governor General of Canada:

Kelly-Lee Assinewe, Brent Kaulback, Sagamok Anishnawbek First Nation, Fort Smith, Northwest Territories: Ontario: Community Service Indigenous Education Partner

Lottie Keye, Six Nations of the Grand River, Ontario: Lifetime Achievement, Education

Curtis Michael, Neil Debassige, Shubenacadie Mi’jnaq First Nation, Nova M’Chigeeng First Nation, Ontario: Scotia: Language, Culture and Traditions Leadership

Tanya Leary, Roseau River First Nation, Manitoba: Innovative Practice Deloria Many Grey Horses, Gordon Martell, Kainai First Nation, Alberta: Waterhen Lake Cree First Nation, Leadership Saskatchewan: Leadership

Doris Camsell, New this Year Deh Gah Gotie Dene Band, Northwest Territories: Brandi Vezina, Language, Culture and Traditions Kirsten Barnes, Métis, Manitoba:Role Model Gitxsan First Nation, British Columbia: Role Model

Eric Wilson, Peguis First Nation, Manitoba:Leadership

Annual Report 2012-2013 | 31 Indspire Institute: Promoting Indigenous Education Officially launched at the National Gathering for Indigenous Education in Calgary on March 16, 2013, theIndspire Institute is a virtual community focused on improving kindergarten to grade 12 (K-12) Indigenous student success.

Less than 90 days after being launched, our membership In 2013/2014, we will launch our new Educator stands at over 700 and is increasing daily. The Indspire Coaching: Peer Support Program, a mentorship program Institute is working to improve K-12 Indigenous student for Indigenous educators. We are currently engaging success through a number of ongoing programs. We have with Indigenous educators through the Indspire Institute recruited a number of Indigenous educators to write to create national and regional committees to recruit blogs, which we edit and publish weekly on our website. teachers for this new initiative. Our goal is to register We also produce and broadcast live webinars for Institute at least 300 teachers with at least 150 mentor/ members using state-of-the-art video conferencing mentee relationships. software. Indigenous educators are invited to present their research and have live online conversations with The Indspire Institute is also poised to engage with members of the Indspire Institute. Webinars are recorded a number of communities across Canada to identify, and posted to the Institute where members can watch document, celebrate and share existing Indigenous them at their convenience in our webinar archive. community-based education programs that are having Indspire Institute members are encouraged to continue a positive impact on the lives of Indigenous learners conversations started in the webinars with one another through our Nurturing Capacity initiative. through our user-friendly social networking site. The Institute also provides educators wth a wealth of online educational resources as well as a repository of best practices for Indigenous education that have been vetted by Indigenous communities across Canada.

32 | Indspire Who are our PARTNERS? Indspire is honoured to have the generous support of public and private sector partners, along with individual donors, who believe in and act to support Indigenous education and achievement in Canada. Our list of partners is continually growing. We are proud to recognize our partners that have contributed $100,000 or more to support our work during the fiscal year April 1, 2012 to March 31, 2013:

Estate of Linda Joyce Ganly

34 | Indspire Who are our Partners?

20th annual Indspire Awards: Celebrating Indigenous Achievement – February 15, 2013

Presenting Corporate Sponsors Participating Sponsors Human Resources and Skills KPMG CIBC Casino Rama Development Canada Ledcor Group of Companies Cameco Rio Tinto Alcan Lands and Economic Development Ontario Power Generation Tuccaro Inc. Group of Companies Office of the Federal Interlocutor for Points Athabasca Contracting LP Lead Partner Métis and Non-Status Indians The Mosaic Company Government of Canada Media Sponsor Tron Power Inc. National Post Official Hotels Regional Partner The Sheraton Cavalier, Saskatoon Silver Ticket Package Government of Saskatchewan Print Media Sponsors The James Hotel, Saskatoon Bee-Clean Building Maintenance Leader-Post CN Major Sponsors The StarPhoenix Recipient Dinner Table Sponsor ConocoPhillips Canada Shaw Media DMC Mining Services Dakota Dunes Casino Aboriginal Peoples Supporting Sponsors TransCanada Corporation Dakota Dunes Community Television Network Goldcorp Inc. Vancouver Island University Development Corporation Suncor Energy Government of Nunavut First Nations University of Canada Syncrude Canada Government of the Luxury Box Suite Kitikmeot Inuit Association Fort McKay Group of Companies Northwest Territories WorleyParsons Canada Nahwegahbow Corbiere Frog Lake Energy Resources Corp. PotashCorp Pinehouse Business North Air Canada City of Saskatoon Platinum Ticket Package PTI Group Inc. Saskatchewan Indian Gaming Enbridge Pipelines Inc. Pricewaterhousecoopers LLP Pre-Gala Reception: Authority (SIGA) RBC Saskatchewan Institute of Applied Host Sponsor Willbros Canada Science & Technology Shell Canada Limited Britco Gold Ticket Package Saskatoon Tribal Council Alliance Pipeline Semaganis Worme Law Office Post-Gala Reception: Public Sector Partners AREVA Resources Canada Ltd. Six Nations of the Grand River Host Sponsor Aboriginal Affairs and Northern Assembly of First Nations Territory Elected Council BHP Billiton Development Canada ATCO Group TD Bank Financial Group Canadian Heritage Enerplus Corporation Tervita Corporation Canada Mortgage and First Nations Bank of Canada University of Saskatchewan Housing Corporation Gowling Lafleur Henderson LLP Weyerhaeuser Government of British Columbia IBM Canada Ltd. Health Canada

Annual Report 2012-2013 | 35 20th annual Indspire Awards: Celebrating Indigenous Achievement – February 15, 2013 (continued)

Individual Tickets Enerplus Corporation Tim Morton Saskatoon Police Service Angel Entertainment Patricia Erhardt and Richard Kotowich Mount Royal College SaskEnergy Apache Canada Ltd. Farm Credit Canada NextEra Energy Resources Shell Canada Limited Battlefords Agency Tribal Chiefs (BATC) Barbara Feasby Northland School Division No.61 Delilah St. Arneault Hon. Carolyn Bennett, M.D., M.P. Federation of Saskatchewan Nuclear Waste Management Stantec Consulting BHP Billiton Indian Nations Organization Thomas J. Story Blue Hill Energy Lloyd “Sonny” Flett Pacific Homes Summa Strategies Canada BP Canada Fort Mckay Group of Companies Peace Hills Trust Suncor Energy Inc. Canadian Council for Verna Fruch Prince Albert Grand Council The Banff Centre AboriginalBusiness Hatch RBC Estate and Trust Services TransAlta Corporation Champagne and Aishinik First Nations Hitachi Power Systems Canada Ltd. RBC TransCanada Corporation Congress of Aboriginal Peoples Horizon North Logistics Inc. Viola Robinson University of Regina Context Creative Inuvialuit Regional Corporation Saskatchewan Aboriginal Women’s University of Saskatchewan - Creative Fire Malcolm and Alexandra King Circle Corporation College of Medicine Anonymnous (2) Lonechild and Associates SGI Alex Wahl Tom and Julie Darnay Darlene Mandeville Saskatchewan Provincial Building Velma Baptiste-Willett Devon Canada Bridget Marsden & Construction Trades Council WorleyParsons Canada The Honorable Senator Lillian E. Dyck Miller Thomson Saskatchewan Workers’ Elizabeth Zarpa Eagle Feather News MNP Compensation Board

Soaring: Indigenous Youth Career Conferences – Calgary, May 8, 2012

Exclusive Laptop Sponsor Canadian Heritage Supporting Sponsors Exhibitor Sponsors Imperial Oil Limited Office of Federal Interlocutor for Aboriginal Peoples Alberta Health Services Metis and Non-Status Indians Television Network Alberta Indian Government Partners Cenovus Energy Inc. Investment Corporation The Government of Alberta Host University DeVry Institute of Technology Bow Valley College Aboriginal Affairs and Northern University of Calgary IBM Canada Ltd. ConocoPhillips Canada Development Canada The Association of Professional Encana Corporation Participating Sponsors Engineers and Geoscientists CIBC of Alberta Nexen Inc. WorleyParsons Canada Vale Shell Canada Limited

36 | Indspire Who are our Partners?

Soaring: Indigenous Youth Career Conferences – Calgary, May 8, 2012 (continued)

Exhibitor Sponsors (continued) RBC Royal Bank TransCanada Pipelines Limited And Special Thanks to: Farm Credit Canada Saskatchewan Government Insurance University of British Columbia Canadian Forces The First Nations (Alberta) Technical (SGI) University of Northern Saint Elizabeth Health Care Services Advisory Group (TSAG) Suncor Energy Inc. British Columbia United Way Ledcor Group of Companies TD Bank Financial Group

Soaring: Indigenous Career Conferences – Montreal, November 6, 2012

Exclusive Travel Sponsor Tradeshow Sponsors Humber College Carleton University Scotiabank CIBC Canadian Security Intelligence Service Ecole nationale du camionnage CN CEGEP John Abbott College et équipement lourd Lunch Sponsor Department of National Defense Fanshawe College The Society of Energy Professionals Workshop Sponsors Ministère de l’Education, du Sport John Abbott College Aboriginal Peoples et du Loisir Laurentian University Government Partners Television Network Queen’s University l’Université du Québec à Chicoutimi Aboriginal Affairs and Northern IBM Canada Ltd. SNC-Lavalin Inc. RCMP Development Canada TD Bank Financial Group Trent University Canadian Heritage Exhibitor Sponsors TransCanada Pipelines Limited Wapikoni Mobile The Office of Federal Interlocutor for Aboriginal Financial Officers University of Ottawa Saint Elizabeth Metis and Non-Status Indians Association of Canada First Nation & Inuit Suicide The Historica-Dominion Institute And Special Thanks to: Prevention Host University CGI Group Inc. Makivik Corporation National Aboriginal Council of McGill University Concordia University Service Canada Midwives/Canadian Association Correctional Service Canada Assembly of the First Nations of of Midwives Enbridge Pipelines Inc. Quebec and Labrador University of Toronto

Annual Report 2012-2013 | 37 Soaring: Indigenous Career Conferences – Saskatoon, February 13-15, 2013

Presenting Corporate Sponsor Tradeshow Sponsors First Nations University of Canada Cameco Corporation PotashCorp SaskTel Information Service Corporation CIBC Stantec Consulting Ltd. MacEwan University BHP Billiton Participating Sponsor Saskatchewan Workers’ Fort McKay Group of Companies Nexen Inc. Workshop Sponsors Compensation Board Frog Lake Energy Resources Corp. IBM Canada Ltd. Saskatchewan Government Shaw Media Supporting Sponsor SaskEnergy Insurance (SGI) Suncor Energy Inc. Shell Canada Limited Health Canada Shad Valley International Syncrude Canada Ltd. TD Bank Financial Group Lunch Sponsor Exhibitor Sponsors University of Calgary And Special Thanks to: Apache Canada Ltd. Association of Professional Engineers Viterra Canadian Forces & Geoscientists of Saskatchewan TransCanada Pipelines Limited Britco Exclusive Laptop Sponsor AREVA Saskatchewan Institute of Applied Imperial Oil Limited City of Saskatoon Champions of Soaring Science and Technology (SIAST) CN Aboriginal Peoples Television University of Saskatchewan Farm Credit Canada Network First Nations Bank of Canada Air Canada

National Gathering for Indigenous Education – March 15, 2013

Presenting Corporate Sponsor Public Sector Partner Keynote Speaker Sponsor Opening Breakfast Sponsor Suncor Energy Inc. Alberta Government Imperial Oil TD Bank Financial Group Suncor Energy Foundation

38 | Indspire Who are our Partners?

Building Brighter Futures: Bursaries and Scholarship Awards

Corporate Partners Teck Resources Ltd. Frog Lake Energy Resources Corp. Aboriginal Scholarship CIBC Syncrude Canada Ltd. and the Apache Canada Ltd. The Royal Bank Award in Memory BMO Capital Markets Royal Alberta Museum Internship – Supporting Sponsor of Beth Hamilton Bell Shell Canada Limited Vale Canadian Bar Association of Suncor Energy Foundation Casino Rama Government Partners British Columbia’s Aboriginal Imperial Oil Limited Merck Canada Inc. Health Canada Scholarship Trust Canadian Medical Foundation Britco Aboriginal Affairs and Northern The North West Company Great-West Life, London Life and The DIVA Foundation Development Canada & Ian Sutherland Canada Life NextEra Energy Canada Canadian Heritage Citibank Canada Rio Tinto Alcan The Wawanesa Mutual Department of Justice Canada Ontario Federation of Indian The Society of Energy Professionals Insurance Company Friendship Centres HP Enterprises Services Canada Kiewit Corporation Trust & Endowment Partners De Beers Canada Inc. (Victor Mine) Anonymous (1) Government of Canada Trust Fund Individual Partners De Beers Canada Inc. Ontario Aboriginal Partnerships Norval Morrisseau Fine Arts Bursary CN Oil & Gas, Trades & Recognition Scholarship Michael McKinnon Justice Award Scotiabank Technology (OGTT) Bursary Desser Music Scholarship Fund Leonard G. (Len) Flett Bursary Award TD Bank Financial Group and Scholarship Program Aboriginal Veterans Scholarship Trust in Business and Commerce Investors Group Shell Canada Limited Diana Fowler LeBlanc Aboriginal Ms. Roberta L. Jamieson Koskie Minsky LLP Suncor Energy Foundation Social Work Scholarship Mel E. Benson National Association of Imperial Oil Limited R. Howard Webster Foundation The Rick George Scholarship Friendship Centres TransCanada George Blondin The Linda Ganly Memorial Scholarship

Indspire Institute: Promoting Indigenous Education

Founding partners: J.W. McConnell Family Foundation Province of Ontario Tachane Foundation Inc. CIBC Province of Manitoba Suncor Energy Foundation The Winnipeg Foundation Government of Canada

Industry in the Classroom: Indigenous Youth Career Seminars

Aboriginal Affairs and Northern Agilent Technologies Inc. Shaw Media Vale Inco Limited Development Canada Astral Media Vale

Annual Report 2012-2013 | 39 Rivers To Success: Mentoring Indigenous Youth

CIBC Piitoayis Family School The Rotman Family Foundation

Annual Donations (Gifts made between April 1, 2012 – March 31, 2013)

$50,000 or more Valerie Brook Dr. Noella Steinhauer* Denise L. Rose Goldcorp Inc. Manuel & Cheryl Buchwald PJ Thornton* Lee R. Schmidt Roberta L. Jamieson* Helen Chaiton Denis Weber Alex A. Shorten Tuccaros Inc. Group of Companies* Tom & Julie Darnay* Anonymous (3) Elaine Sloan Lillian Fullen TD Bank Financial Group More than $20,000 Mark Hobson $250 to $499 United Way Centraide Ottawa IBM Peter Lukasiewicz* Dr. Kim Alexander Rachel Welch O’Connor Roberta L. Jamieson* Beverley Martin Jennifer Allan Dr. Cornelia Wieman, MD* Miziwe Biik Julie Monture* Valerie Anderson Anonymous (3) New Gold Inc. Norman and Margaret Jewison Catherine E. Blackstock Tuccaro Inc. Group of Companies* Charitable Foundation Andrea Dykstra $100 to $249 Anonymous (1) * Gordon Orlikow Debbie & David Eisan* Deborah Alexander Murray Phillips John Ecker* Skawenniio Barnes* $5,000 - $10,000 The Three Oaks Foundation Anna K Fung Bedford Consulting & Associates Shawn Atleo, National Chief, Barbara Whitcraft Honor Griffith James & Sharon Bradley Assembly of First Nations Anonymous (1) Hydro One Andrew Clairmont Fran Garlow* Donna M. Jordan Brenda Darling and Ian Gilmour $500 to $999 Bertha Joseph Bryanne Drysdale* $2,500 to $5,000 Devlin Gailus Barristers & Solicitors Paul Klein* Len Flett* Mining Association of Canada George Hungerford Living Stone Studio Bruce & Sherri-Lynne Fostvelt Anonymous (1) Eric Knight Tammy Martin* Joan Genest $1,000 to $2,499 Bridget Marsden Lance D. Morrison* Larry Gilbert Dr. Gerald McMaster* Una Anne Moyer Carol-Ann Hart Ken Aucoin* Newalta Corporation: Ontario George & Zoi Linda Papadopoulos Ainslie Harvey Lillian Brewster* Penn West Petroleum Jay G. Pariseau-Zrien* Judi Hoffman

*denotes Indspire Staff or Board Director

40 | Indspire Who are our Partners?

Annual Donations (Gifts made between April 1, 2012 – March 31, 2013) (continued)

$100 to $249 (continued) Robert C. Brun, Q.C. Caleigh Rabbitte In honour of Gordana Jovanovich Indspire Staff Jeans Day* Tracey Brussard Renee L. Racette Charles Kaplan inGenius Engineering Inc. Scott B. Cavan Melody Robens-Paradise In honour of Rose Sones LeMay Jessie King* Michael Doherty Mary Rosser & Michele LeMay Kathryn Deo Law Corporation Jeannine Dostaler Olivia Seillier Liz Sutherland Lyla Laon Ken Dreany Andrew Shaw In honour of Sanja Mladjenovic Brenda Laronde Lisa H.Dumbrell Marilyn Smith & Rich Steiner Linda A. Loo Mary L. French TELUS Corporation: Staff Gift Richard Bromwich Eric MacNaughton Chaslynn Gillanders Matching Campaign Anonymous (x5) Dolores Mason Beth Halldorson Antoaneta V. Vuteva In honour of Robbie Robertson Fiona H. Mcfarlane Rachel Hill* Joyce Wake Janet Witthuhn Corinne Mckay Margaret D. Humen Orest Wasarab In honour of Theresa Spence Amanuel Melles The Hydrecs Fund Arlene Williams* Diane Kilby Brett Nash Isabel Jackson Brenda Winter In honour of Lori Sterling Gordon Peeling* Robert J.M. Janes Deanna Wissman Hanita Tiefenbach Gail Picco Torrine Johnson Naomi Wright In memory of Miodrag Jovanovich Phoolwantee Ramdhayan Peter Kacsor Anonymous (14) Charles Kaplan Dan Richard Loren Kieve In memory of Jean Jackman Hart Shalom Sadikov Pierre R. Leon In Honour or Memoriam Joathan Hart Karen Sandy* Maggie Likavec In honour of Alice Blanchard In memory of Dr. Michael Monture Reena Schellenberg Dana-Lyn Mackenzie Hamish Buchanan Dr. Elias & Ellen Gammal Lisa Shepherd James M. Mackenzie In honour of Gail Cyr Patricia Gilbert-Sturm Lawrence Silver Sharon Matthews Anonymous (1) Margaret Keene Third Age Learning - Burlington Daniel McCormack In honour of Anthony Edwards Harold Kennedy Peter Vander Kooij James McRae Sue Lawton Mark and Gaye Lade Patrick Walker Kenneth A. Montour Jr.* In honour of Ina Fournier Rita K Miner Sheldon Zuker David Nicoll Sue Lawton Marion & Jody Norris Anonymous (10) Sue Nixon In honour of Jean Frost and Anthony and Amanda Saxton Raymond D. Phillips John Shaw Jean and Richard Wilson Up to $99 Miranda Post Anonymous (1) Cynthia Baker Beth Proven In Honour of Ismo Heikkila Anja Brown Tanya Punjabi Ron and Susi Noblett

*denotes Indspire Staff or Board Director

Annual Report 2012-2013 | 41 We are grateful for the ongoing commitment of the following, who made their donations on a monthly basis during the fiscal year April 1, 2012 to March 31, 2013 Deborah Alexander Bryanne Drysdale* Brenda Laronde Jay G. Pariseau-Zrien* Kim Alexander Jeannine Dostaler Peter Lukasiewicz* Karen Sandy* Ken Aucoin* Andrea Dykstra Eric MacNaughton Elaine Sloan Skawenniio Barnes* Debbie & David Eisan* Bridget Marsden Cornelia Wieman* James & Sharon Bradley Joan Genest Tammy Martin* Arlene Williams* Lillian Brewster* Honor Griffith Dolores Mason Brenda Winter Manuel and Cheryl Buchwald Rachel Hill* Kenneth A. Montour Jr.* Anonymous (5) Scott B. Cavan Roberta L. Jamieson* Julie Monture* Andrew Clairmont Paul Klein* Lance D. Morrison* *denotes Indspire Staff Tom & Julie Darnay* Lyla Laon Gordon Peeling* or Board Director

Planned Giving (During the fiscal year April 1, 2012 to March 31, 2013)

Bequest Intentions Realized Bequests (the following have indicated that (the following have generously left a they have included Indspire in their portion of their estate to Indspire) final estate plans) The Estate of Linda Joyce Ganly Tom & Julie Darnay Mr. Jack C. Hallam Anoymous (2)

Please note we have made a sincere effort to accurately acknowledge each of our partners and donors in this publication. If an error is discovered, please call 416.987.9497 or email [email protected] so we may correct our records.

42 | Indspire Board of DIRECTORS and STAFF

Annual Report 2012-2013 | 43 Board of Directors

Joseph F. Dion Dr. Cornelia Wieman, M.D. Paul Tsaparis Regrets: Len Flett Roberta L. Jamieson Jean La Rose Hon. Gerry St. Germain, P.C. Skawenniio Barnes Peter J. Lukasiewicz Jean Teillet, Vice Chair Dr. James Makokis, M.D. Lillian Hvatum-Brewster David Gabriel Tuccaro, Chair Wm. (Bill) Shead Gordon R. Peeling Fauna Kingdon Chief Clifford Moar Debbie Eisan Mary May Simon

44 | Indspire Staff as of March 31, 2013

Staff/Personnel Lisa Flynn Julie Monture Communications Coordinator Executive Assistant to the CEO Roberta L. Jamieson President and CEO, Indspire Fran Garlow June Montour Board of Directors and Staff Executive Producer, Indspire Awards Finance and Accounts Payable Officer Manager, Post Secondary Education Jane E. Greer Lance D. Morrison Senior Leadership Team Communications Officer Development Assistant, Administration Rachel Hill and Donor Services Ken Aucoin CFRE Post Secondary Education Coordinator Jay Pariseau-Zrien Vice President, Development Valerie Hill Development Associate, Stakeholder Thomas Darnay Administrative Support for Post Engagement and Events Vice President, Finance and Administration Secondary Education Karen Sandy John Ecker Jessie King Post Secondary Education Data Vice President, Communications and Online Content Specialist Management Coordinator Media Relations Paul Klein CFRE Cam Willett Noella Steinhauer Senior Development Officer, Individual Giving Director, Indspire Institute Vice President, Education and Donor Relations Arlene Williams Tammy Martin Finance and Technology Officer Staff Executive Assistant to the Vice-President Corry Williams Suzanne Bradley of Education Accounts Payable Clerk K-12 Community Engagement Specialist Ken Montour Andrew Wilson Bryanne Drysdale Development Associate, Corporate Partnerships Indspire Awards Ticket Sales Liaison Officer

Annual Report 2012-2013 | 45 APPENDIX: Financial Statement &ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐŽĨ /E^W/Z zĞĂƌƐĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯĂŶĚϮϬϭϮ Appendix: Financial Statement &ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐŽĨ /E^W/Z zĞĂƌƐĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯĂŶĚϮϬϭϮ /E^W/Z &ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ zĞĂƌƐĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯĂŶĚϮϬϭϮ

&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ WĂŐĞ /ŶĚĞƉĞŶĚĞŶƚƵĚŝƚŽƌƐ͛ZĞƉŽƌƚ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭ ^ƚĂƚĞŵĞŶƚŽĨ&ŝŶĂŶĐŝĂůWŽƐŝƚŝŽŶ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯ ^ƚĂƚĞŵĞŶƚŽĨKƉĞƌĂƚŝŽŶƐĂŶĚŚĂŶŐĞƐŝŶ&ƵŶĚĂůĂŶĐĞƐʹKƉĞƌĂƚŝŶŐ&ƵŶĚ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰ ^ƚĂƚĞŵĞŶƚŽĨKƉĞƌĂƚŝŽŶƐĂŶĚŚĂŶŐĞƐŝŶ&ƵŶĚĂůĂŶĐĞƐʹZĞƐƚƌŝĐƚĞĚ&ƵŶĚƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱ ^ƚĂƚĞŵĞŶƚŽĨĂƐŚ&ůŽǁƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϭ EŽƚĞƐƚŽƚŚĞ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϮ Appendix: Financial Statement ϭ Ŷ ŶĚ / ĨŽƌ ϯϭ͕ ƚŚĂƚ ƌĚĞƌ Ă Ž ŽďƚĂŝŶ ĞůĞĐƚĞĚ ĞŶƚŝƚǇ͛Ɛ ŝŶ ĞƌƌŽƌ͘ Ɛ ĂŶĂĚŝĂŶ ƚŽ ƌ DĂƌĐŚ ƚŚĞ ĞŶĚĞĚ͕ Ž Ĩ ŝƚŚ ƐƚĂŶĚĂƌĚƐ ƵĚŝƚ Ž ƚĂƚĞŵĞŶƚƐ ǁ ŚĞŶ ϮϬϭϯ͕ Ă ƌĂƵĚ Ɛ ƚ Ĩ ŚĞ Annual Report 2012-2013 | 1 Annual Report ƚ ƐƚĂƚĞŵĞŶƚƐ ϯϭ͕ ƉƌŽĐĞĚƵƌĞƐ ƚŽ ƌĚĂŶĐĞ Ğ ǇĞĂƌƐ Ƶ ŝŶĂŶĐŝĂů dŚĞ ĂĐĐŽƵŶƚŝŶŐ Ě Ĩ ŚĞ Ĩ Ɛ͘ ĂĐĐŽ DĂƌĐŚ ƚ ĞĨĨĞĐƚŝǀĞŶĞƐƐ ĞƌĨŽƌŵ Ž ƚ ĨŝŶĂŶĐŝĂů Ŷ Žƌ ĂĐĐŽƵŶƚŝŶŐĞƐƚŝŵĂƚĞƐŵĂĚĞďǇ ŝƚŽƉŝŶŝŽŶ͘ ŝ Ĩ ƚŚĞ ŚĞƚŚĞƌ ŶĚƉ ĂƐĂ ƚŚĞ Ŷ Ĩ Ă ĂŶĂĚŝĂŶ ƵĚŝƚƐ Ž ĨƵŶĚƐ ƐƚĂƚĞŵĞŶƚ ŝƚŚ ƉůĂŶ ƌĞƉĂƌĂƚŝŽŶ ŽƐŝƚŝŽŶ ǁ ŽƵƌĂ Ɖ Ɖ ŽƉŝŶŝŽŶŽ ŚĞ ĂŶĚ Ŷ ƚ ĨŝŶĂŶĐŝĂů Ă ǁ ƐƚĂƚĞŵĞŶƚƐ͕ ƌĞƐƚƌŝĐƚĞĚ ƉƌĞƐĞŶƚĂƚŝŽŶ ŝŶĂŶĐŝĂů ƚŚĞ ŶĚ ŽŶĚƵĐƚĞĚ Ŷ ĞŶĂďůĞ ĂĐĐŽƌĚĂŶĐĞ Ă Ăŝƌ ŽĨĨ ŝ Đ Ĩ Ž Ŷ ŝ ƚ ĨŝŶĂŶĐŝĂů ŶĚ tĞ ĞǆƉƌĞƐƐŝŶŐ ƌĞƋƵŝƌĞŵĞŶƚƐ Ă Ĩ ƚŚĞ Ž Ĩ ŽƉĞƌĂƚŝŶŐ 0* ƵĚŝƚƐ͘ Ž ĚŝƐĐůŽƐƵƌĞƐ ƐƚĂƚĞŵĞŶƚƐ ŶĞĐĞƐƐĂƌǇ ĞƚŚŝĐĂů ƚŚĞ ƐƚĂƚĞŵĞŶƚƐ Ɛ ƵƌĂ D ŝ ĂŶĚ ƉƵƌƉŽƐĞ ƚŚĞ ŝƚŚ Ž ĨŽƌ .30*//3 ƉƌĞƉĂƌĂƚŝŽŶ R W &RRSHUDWLYH p.3 HUILUPRIWKH.30*QHWZRUN ŚĞ ŽŶ ǁ ƚ LRQDO DW ŝƐƐƚĂƚĞŵĞŶƚ ĨŝŶĂŶĐŝĂů Žƌ UQ ŵŽƵŶƚƐ ŶƚŝƚǇ͛Ɛ Ĩ 7HOHSKRQH )D[ ZZZNSPJF ŽŵƉƌŝƐĞ ĂůĂŶĐĞƐ ŵ ĞƚĞƌŵŝŶĞƐ Ă Ğ ďĂƐĞĚ ,QWH Žƚ Đ ĐŽŵƉůǇ ď URYLGHVVHUYLFHV Ě ŚĞ 0* Ŷ ŚĞ Ğ ƚŚĞƐĞ ƚ ƚ Ƶƚ Ĩ ŚŝĐŚ ƵŶĚ ǁ ƚŽ Ĩ ď Ž &DQDGDS ǁ * ŵĂƚĞƌŝĂů ŝŶ Ĩ ĂďŽƵƚ ƚŚĂƚ Ɛ ƌĞ͕ ƚŝŽŶ .30 ĨƌĞĞĨƌŽŵŵĂƚĞƌŝĂůŵŝƐƐƚĂƚĞŵĞŶƚ͘ DIILOLDWHGZLWK.3 ƚƐŝƐƐƵĨĨŝĐŝĞŶƚĂŶĚĂƉƉƌŽƉƌŝĂƚĞƚŽƉƌŽǀŝĚĞĂďĂƐŝƐĨŽƌŽƵƌĂƵĚ ƌŽƌ͘ Ğ ƐƚĂƚĞŵĞŶƚƐ ĐĞ ŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘ ƚĂŶĐĞƐ͕ ĂŶĚŽƚŚĞƌĞǆƉůĂŶĂƚŽƌǇŝŶĨŽƌŵĂƚŝŽŶ͘ ƚ ŝĂƚĞŶĞƐƐŽĨĂĐĐŽƵŶƚŝŶŐƉŽůŝĐŝĞƐƵƐĞĚĂŶĚƚŚĞƌĞĂƐŽŶĂďůĞŶĞƐƐŽĨ ŵĂŶĂŐĞŵĞŶƚ ILUPV ƌĞůĞǀĂŶƚ ŝƐŬƐŽ ŶĚƐƉŝ HU ƌ ĐŚĂŶŐĞ ĂƐ ƌĞƋƵŝƌĞ ZLVVHQWLW\ ŽĨ/ ĞǀŝĚĞŶ ƉƌĞƐĞŶƚĂ ŚĞ ŝƌĐƵŵƐ WPHPE /EWEEdh/dKZ^ΖZWKZd ĂŶĚ ĨŝŶĂŶĐŝĂů Đ ŽŶƚƌŽů Ăŝƌ ŽĨƚ Đ Ĩ ŚĞ ĂƵĚŝƚ ĐŽŶƚƌŽů ƚ UQDWLRQDOq D6 ŶĚ ŝŶ ƚŚĞƐĞ .30*//3LVD&DQDGLDQOLPLWHGOLDELOLW\SDUWQHUVKLSDQGDPHPE RILQGHSHQGHQ .30*&RQILGHQWLDO ,QWH Ă ƐƚĂŶĚĂƌĚƐ ƚĂƚĞŵĞŶƚƐ Ŷ Ɛ ŝŶƚĞƌŶĂů ŽďƚĂŝŶ Ž ŽƉĞƌĂƚŝŽŶƐ ŶƚĞƌŶĂů Ž ƐƐĞƐƐŵĞŶƚ ŚŽƐĞ ŝ ƚ ŽĨ Ă ĞǀĂůƵĂƚŝŶŐƚŚĞĂƉƉƌŽƉƌ ŚĞ ŝŶĂŶĐŝĂů Ɛ ƌĞƉĂƌĂƚŝŽŶ ƐƵĐŚ ŽŶƐŝĚĞƌ ŽƉŝŶŝŽŶ ĂƉƉƌŽƉƌŝĂƚĞ Ĩ ƚ Ɖ Đ ĨŽƌ ŚĞ ĂŶ ĂƌĞ ǁĞ ƚ ƌŽĐĞĚƵƌĞƐ ƚĂŶĚĂƌĚƐ͘d ƚĂƚĞŵĞŶƚƐ Žƌ Ɖ ĂŶĚ 5 ŚĂƚ Ɛ Ɛ ŝŶĐůƵĚŝŶŐ ƚ /1 ŚĞ ĞǆƉƌĞƐƐ ƚ Ž ĂĐĐŽŵƉĂŶǇŝŶŐ ƚ ĂƵĚŝƚŝŶŐ ƐƐĞƐƐŵĞŶƚƐ͕ ĞƌĨŽƌŵŝŶŐ ŝƐ ϮϬϭϭ͕ ƚŚĞ Ă Ɖ ƵĚŐŵĞŶƚ͕ ƌĞƐƉŽŶƐŝďůĞĨ ƉƌŽĐĞĚƵƌĞƐ ϭ͕ +DPLOWRQ21 .LQJ6WUHHW:HVW6XLWH .30*//3 &KDUWHUHG$FFRXQWDQWV %R[ ƌŝƐŬ ŽƌŐĂŶŝǌĂƚŝŽŶƐ͕ ŝƐ ŽƵƌũ Ɖƌŝů ĐĐĞƉƚĞĚ ĂƵĚŝƚ Ŷ ĂƵĚŝƚĞĚ Ă ŝŶǀŽůǀĞƐ ŚŽƐĞ Ž ƚ ŶĚ ĂǀĞ Ă ƌĞƐƉŽŶƐŝďŝůŝƚǇ ƵĚŝƚ ĞƐŝŐŶ Ś Ă Ě ŝŶƚĞƌŶĂůĐŽŶƚƌŽů͘ŶĂƵĚŝƚĂůƐŽŝŶĐůƵĚĞ ŵĂŶĂŐĞŵĞŶƚ͕ĂƐǁĞůůĂƐĞǀĂůƵĂƚŝŶŐƚŚĞŽǀĞƌĂůůƉƌĞƐĞŶƚĂƚŝŽŶŽĨ tĞďĞůŝĞǀĞƚŚĂƚƚŚĞĂƵĚŝƚĞǀŝĚĞŶĐĞǁĞŚĂǀĞŽďƚĂŝŶĞĚŝŶŽƵƌĂƵĚŝ ƚŽ ŵĂŬŝŶŐ ĚĞƉĞŶĚ ŐĞŶĞƌĂůůǇ ŶŽƚĞƐ͕ĐŽŵƉƌŝƐŝŶŐĂƐƵŵŵĂƌǇŽĨƐŝŐŶŝĨŝĐĂŶƚĂĐĐŽƵŶƚŝŶŐƉŽůŝĐŝĞƐ ŶŽƚͲĨŽƌͲƉƌŽĨŝƚ ĂƌĞĨƌĞĞĨƌŽŵŵĂƚĞƌŝĂůŵŝƐƐƚĂƚĞŵĞŶƚ͕ǁŚĞƚŚĞƌĚƵĞƚŽĨƌĂƵĚŽƌĞƌ ƵĚŝƚŽƌƐΖZĞƐƉŽŶƐŝďŝůŝƚǇ KƵƌ DĂŶĂŐĞŵĞŶƚ͛ƐZĞƐƉŽŶƐŝďŝůŝƚǇĨŽƌƚŚĞ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ DĂŶĂŐĞŵĞŶƚ ƌĞĂƐŽŶĂďůĞĂƐƐƵƌĂŶĐĞĂďŽƵƚǁŚĞƚŚĞƌƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƌ Ŷ tĞ dŽƚŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐŽĨ/ŶĚƐƉŝƌĞ ϮϬϭϮ KƉŝŶŝŽŶ /ŶŽƵƌŽƉŝŶŝŽŶ͕ƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƉƌĞƐĞŶƚĨĂŝƌůǇ͕ŝŶĂůůŵĂƚĞƌŝĂůƌĞƐƉĞĐƚƐ͕ƚŚĞĨŝŶĂŶĐŝĂůƉŽƐŝƚŝŽŶŽĨ/ŶĚƐƉŝƌĞĂƐĂƚDĂƌĐŚϯϭ͕ϮϬϭϯ͕DĂƌĐŚϯϭ͕ϮϬϭϮĂŶĚ Ɖƌŝůϭ͕ϮϬϭϭ͕ĂŶĚŝƚƐƌĞƐƵůƚƐŽĨŽƉĞƌĂƚŝŽŶƐĂŶĚŝƚƐĐĂƐŚĨůŽǁƐĨŽƌƚŚĞǇĞĂƌƐƚŚĞŶĞŶĚĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚĂŶĂĚŝĂŶĂĐĐŽƵŶƚŝŶŐƐƚĂŶĚĂƌĚƐĨŽƌŶŽƚͲĨŽƌͲƉƌŽĨŝƚ ŽƌŐĂŶŝǌĂƚŝŽŶƐ͘

ŚĂƌƚĞƌĞĚĐĐŽƵŶƚĂŶƚƐ͕>ŝĐĞŶƐĞĚWƵďůŝĐĐĐŽƵŶƚĂŶƚƐ :ƵŶĞϮϳ͕ϮϬϭϯ ,ĂŵŝůƚŽŶ͕ĂŶĂĚĂ

Ϯ 2 | Indspire Appendix: Financial Statement ϯ Ϯϰϴ ϱϳ͕ϭϮϰ ϭϳϴ͕ϳϲϬ ϴϱϬ͕ϯϴϭ ϭϯϵ͕ϲϯϵ ϭϮϯ͕ϯϵϲ ͕ϲϵϴ͕ϮϰϬ ͕ϭϯϲ͕ϳϳϯ ͕ϵϳϲ͕ϲϰϰ ͕ϲϭϵ͕ϱϱϳ ͕ϲϮϵ͕ϱϯϳ ͕ϴϱϯ͕ Ϯϰ͕ϴϭϮ͕ϲϴϯ Ϯϵ͕Ϭϱϰ͕ϳϮϱ ϯϭ͕Ϯϲϳ͕Ϯϱϯ Ϯϴ͕ϲϰϳ͕ϲϵϲ ϯϭ͕Ϯϲϳ͕Ϯϱϯ Ɖƌŝůϭ͕ϮϬϭϭ ϭ Annual Report 2012-2013 | 3 Annual Report ϭ Ϯ ϭ Ψ Ψ Ϯ Ψ ϭ Ψ ϴϳϮ͕ϵϭϮ ϭϵϭ͕ϵϭϵ ϭϯϳ͕ϰϲϯ ϱϰϭ͕ϳϳϲ ϳϬϬ͕ϳϴϭ Ϯϵϵ͕ϰϴϰ ͕ϭϳϱ͕ϳϭϰ ͕ϰϰϴ͕ϭϯϭ ͕Ϭϱϵ͕ϭϮϱ ͕ϴϭϲ͕ϱϲϴ ͕ϭϰϴ͕ϲϰϳ Ϯϱ͕ϬϲϮ͕ϱϰϮ Ϯϳ͕ϯϵϮ͕ϳϴϬ ϯϬ͕ϭϳϬ͕Ϯϵϯ Ϯϳ͕ϭϭϭ͕ϭϲϴ ϯϬ͕ϭϳϬ͕Ϯϵϯ Ϯ DĂƌĐŚϯϭ͕ϮϬϭϮ ϭ Ϯ Ψ Ψ Ψ ϯ ϭ Ψ ϮϰϮ͕ϵϮϰ Ϯϰϲ͕ϭϵϬ ϯϲϮ͕Ϭϯϭ ϭϴϬ͕ϱϲϵ ͕ϱϮϵ͕Ϭϵϰ ͕ϰϬϰ͕ϮϬϰ ͕ϳϬϬ͕ϵϭϬ ͕ϰϲϳ͕ϯϮϲ ͕ϮϮϯ͕ϲϯϱ ϭ͕Ϭϱϰ͕ϲϬϲ ϭ͕ϴϳϭ͕ϱϱϯ Ϯϰ͕ϵϳϬ͕ϯϲϬ ϯϭ͕Ϯϱϰ͕ϵϳϬ Ϯϳ͕ϱϱϰ͕ϬϲϬ ϯϭ͕Ϯϱϰ͕ϵϳϬ Ϯϴ͕ϯϲϭ͕ϲϱϮ Ϯ Ψ Ψ Ψ DĂƌĐŚϯϭ͕ϮϬϭϯ ĂƵůdƐĂƉĂƌŝƐ ŽĂƌĚDĞŵďĞƌ ϭ Ϯ ϭ ϯ W ;ŶŽƚĞϰͿ Ɛ Ψ ŽĂƌĚDĞŵďĞƌ WĞƚĞƌ>ƵŬĂƐŝĞǁŝĐǌ ƉĞƌĂƚŝŶŐĨƵŶĚ ĞĨĞƌƌĞĚĐŽŶƚƌŝďƵƚŝŽŶƐ;ŶŽƚĞϴͿ ĐĐŽƵŶƚƐƌĞĐĞŝǀĂďůĞƐ;ŶŽƚĞϯͿ ĐĐŽƵŶƚƐƉĂǇĂďůĞĂŶĚĂĐĐƌƵĞĚůŝĂďŝůŝƚŝĞ ĞƐƚƌŝĐƚĞĚ ĂŶŬŝŶĚĞďƚĞĚŶĞƐƐ;ŶŽƚĞϮͿ ǆƚĞƌŶĂůůǇƌĞƐƚƌŝĐƚĞĚ WƌĞƉĂŝĚĞǆƉĞŶƐĞƐ Z ĂƉŝƚĂůĂƐƐĞƚƐ;ŶŽƚĞϲͿ /ŶƚĂŶŐŝďůĞĂƐƐĞƚƐ;ŶŽƚĞϳͿ ŽŵŵŝƚŵĞŶƚƐ;ŶŽƚĞϵͿ &ƵŶĚďĂůĂŶĐĞƐ͗ K >ŝĂďŝůŝƚŝĞƐ͗ ƵƌƌĞŶƚ͗ >ŝĂďŝůŝƚŝĞƐĂŶĚ&ƵŶĚĂůĂŶĐĞƐ /ŶǀĞƐƚŵĞŶƚƐ;ŶŽƚĞϱͿ ƐƐĞƚƐ ƵƌƌĞŶƚĂƐƐĞƚƐ͗ ^ĞĞĂĐĐŽŵƉĂŶǇŝŶŐŶŽƚĞƐƚŽĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘ KŶďĞŚĂůĨŽĨƚŚĞŽĂƌĚ͗ ^ƚĂƚĞŵĞŶƚŽĨ&ŝŶĂŶĐŝĂůWŽƐŝƚŝŽŶ DĂƌĐŚϯϭ͕ϮϬϭϯ͕DĂƌĐŚϯϭ͕ϮϬϭϮĂŶĚƉƌŝůϭ͕ϮϬϭϭ /E^W/Z /E^W/Z ^ƚĂƚĞŵĞŶƚƐŽĨKƉĞƌĂƚŝŽŶƐĂŶĚŚĂŶŐĞƐŝŶ&ƵŶĚĂůĂŶĐĞʹKƉĞƌĂƚŝŶŐ&ƵŶĚ zĞĂƌƐĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯĂŶĚϮϬϭϮ

ϮϬϭϯ ϮϬϭϮ ZĞǀĞŶƵĞƐ͗ ĚƵĐĂƚŝŽŶ Ψ ϱ͕ϴϰϵ͕ϰϲϲΨϱ͕ϵϵϱ͕ϰϴϵ /ŶĚƐƉŝƌĞǁĂƌĚƐ ϯ͕ϲϰϭ͕ϰϴϳϯ͕ϳϯϮ͕ϭϱϴ /ŶĚƐƉŝƌĞ/ŶƐƚŝƚƵƚĞ;<ͲϭϮͿ ϭ͕ϱϲϵ͕Ϭϱϱ ϳϰϳ͕Ϯϴϲ ^ŽĂƌŝŶŐzŽƵƚŚĂƌĞĞƌŽŶĨĞƌĞŶĐĞƐ ϵϬϬ͕ϯϮϯϭ͕ϬϮϲ͕Ϯϵϲ ϭϭ͕ϵϲϬ͕ϯϯϭ ϭϭ͕ϱϬϭ͕ϮϮϵ ǆƉĞŶĚŝƚƵƌĞƐ͗ ĚƵĐĂƚŝŽŶϭ͕ϲϵϮ͕ϭϴϬϭ͕ϳϭϯ͕ϲϬϮ /ŶĚƐƉŝƌĞǁĂƌĚƐ ϯ͕ϲϴϱ͕ϰϯϮϯ͕ϴϵϯ͕ϴϯϭ /ŶĚƐƉŝƌĞ/ŶƐƚŝƚƵƚĞ;<ͲϭϮͿ ϭ͕ϲϭϭ͕ϬϬϬ ϳϳϴ͕ϰϯϵ ^ŽĂƌŝŶŐzŽƵƚŚĂƌĞĞƌŽŶĨĞƌĞŶĐĞƐ ϵϱϰ͕ϱϱϬϭ͕Ϭϴϲ͕Ϯϵϳ ϳ͕ϵϰϯ͕ϭϲϮϳ͕ϰϳϮ͕ϭϲϵ ǆĐĞƐƐŽĨƌĞǀĞŶƵĞŽǀĞƌĞǆƉĞŶĚŝƚƵƌĞƐďĞĨŽƌĞĂǁĂƌĚƐĂŶĚƐĐŚŽůĂƌƐŚŝƉƐ ϰ͕Ϭϭϳ͕ϭϲϵϰ͕ϬϮϵ͕ϬϲϬ ǁĂƌĚƐĂŶĚ^ĐŚŽůĂƌƐŚŝƉƐ;ŶŽƚĞϭϬͿ ϰ͕ϭϵϵ͕ϲϬϬϰ͕ϰϵϯ͕ϭϮϬ ǆĐĞƐƐŽĨĞǆƉĞŶĚŝƚƵƌĞƐŽǀĞƌƌĞǀĞŶƵĞďĞĨŽƌĞƵŶƌĞĂůŝǌĞĚŐĂŝŶ;ůŽƐƐͿŽŶŝŶǀĞƐƚŵĞŶƚƐ ;ϭϴϮ͕ϰϯϭͿ;ϰϲϰ͕ϬϲϬͿ hŶƌĞĂůŝǌĞĚŐĂŝŶ;ůŽƐƐͿŽŶŝŶǀĞƐƚŵĞŶƚƐ ϲϭ͕ϯϮϯ;ϱϴ͕ϰϲϲͿ ǆĐĞƐƐŽĨĞǆƉĞŶĚŝƚƵƌĞƐŽǀĞƌƌĞǀĞŶƵĞ ;ϭϮϭ͕ϭϬϴͿ;ϱϮϮ͕ϱϮϲͿ KƉĞƌĂƚŝŶŐĨƵŶĚďĂůĂŶĐĞ͕ďĞŐŝŶŶŝŶŐŽĨǇĞĂƌ ϭ͕ϭϳϱ͕ϳϭϰϭ͕ϲϵϴ͕ϮϰϬ ǆĐĞƐƐŽĨĞǆƉĞŶĚŝƚƵƌĞƐŽǀĞƌƌĞǀĞŶƵĞ ;ϭϮϭ͕ϭϬϴͿ;ϱϮϮ͕ϱϮϲͿ KƉĞƌĂƚŝŶŐĨƵŶĚďĂůĂŶĐĞ͕ĞŶĚŽĨǇĞĂƌ Ψ ϭ͕Ϭϱϰ͕ϲϬϲΨϭ͕ϭϳϱ͕ϳϭϰ ^ĞĞĂĐĐŽŵƉĂŶǇŝŶŐŶŽƚĞƐƚŽĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘ ϰ

4 | Indspire Appendix: Financial Statement ϱ ϵ Ϯ ϱϯϲ ϱϯϲ ϱϯϲ ŶĚŝŶ ǁĂƌĚ Ϯ͕ϭϰϬ ĞŽƌŐĞ ůŽ ϮϮ͕Ϭϳϱ ϮϮ͕Ϭϳϱ ϭϵ͕ϵϯϱ ϮϬ͕ϴϭϬ ďŽƌŝŐŝŶĂů ĐŚŽůĂƌƐŚŝƉ Ψ Ψ Ψ Ψ ϳ Ͳ Ͳ ' ^ ŝƉƐ ϱϲϳ WŽƐƚ Annual Report 2012-2013 | 5 Annual Report ĂŶĂĚĂ ϳϳϱ͕ϳϵϵ ϳϳϱ͕ϮϯϮ ϳϳϱ͕ϳϵϵ ϱϰϮ͕ϭϱϱ ͕ϯϭϳ͕ϵϱϰ Ͳ^ĞĐŽŶĚĂƌǇ Ϯϯ͕ϯϭϳ͕ϵϱϰ Ϯϯ͕ϯϭϳ͕ϵϱϰ ϮϮ͕ϬϬϬ͕ϬϬϬ ϮϮ͕ϳϳϱ͕ϮϯϮ ĐŚŽůĂƌƐŚ 'ŽǀĞƌŶŵĞŶƚ Ψ ϭ Ψ Ψ Ψ Ͳ ^ Ͳ ϱϰϲ ϭϬ͕ϴϱϵ ϱϬ͕Ϭϯϱ ϯϵ͕ϭϳϲͿ ϭϬ͕ϯϭϯ ϯϵ͕ϭϳϲ ZŽďĞƌƚĂ :ĂŵŝĞƐŽŶ Ͳ Ͳ Ψ Ͳ Ψ ; Ψ Ψ Ͳ ϲϴ ϭϯ ϯ ͕ϴϯϵ ͕ϳ ͕ϳϲϴ ͕Ϭϯϯ ͕ϱϬϬ Ϭ͕ϳϳϱ ϭ͕Ϯϲϴ ŶŝƚŝŽŶ ǁĂƌĚ ϭ KŶƚĂƌŝŽ ϭϭϲ͕ϲϭϰ ϭϭϲ͕ϲϭϰ ϭϭϭ͕ ϭ ϯ ďŽƌŝŐŝŶĂů ĞĐŽŐ WĂƌƚŶĞƌƐŚŝƉƐ Ψ ϱ Ψ Ψ Ψ ϯ ϰ Ϯ Ͳ Z Ɛ ϲ ϱϵϳ ϱϵϳ ϴϭϰ ϱϭϭ ͕ϰϭϭ ĂŶĂĚĂ Ϯϰ͕ϲϲϭ ŝƚŝďĂŶŬ Ϯϰ͕ϲϲϭ Ϯϯ͕ϮϱϬ Ϯϯ͕ϳϲϭ ǁĂƌĚŽĨ ďŽƌŝŐŝŶĂů ^ƚƵĚĞŶƚ Ψ ϭ Ψ Ψ Ψ ϴ Ͳ Ğůů ϲϰϵ ͕Ϭϲϱ ͕ϲϰϮ ͕ϰϮϯ ͕ϲϰϮ ͕ϵϵϯ ĨĞƚŚ ϭϯϱ͕ϱϲϱ ϭϯϱ͕ϱϲϱ ϭϮϲ͕ϱϬϬ ϭϯϬ͕ϰϵϯ DĞŵŽƌǇ ǁĂƌĚŝŶ ,ĂŵŝůƚŽŶ ŽǇĂůĂŶŬ ϰ Ψ ϵ ϰ ϰ Ψ Ψ Ψ ϯ Ͳ Ž ϵϵϯ ƵƐŝĐ ƵŶĚ ͕ϵϬϵ ͕ϳϵϰ ͕ϴϬϭ ͕ϴϮϬ ͕ϳϵϰ ĞƐƐĞƌ ĐƚĞĚ&ƵŶĚ Z ϴϯ͕ϯϱϰ ϴϯ͕ϯϱϰ ϴϭ͕ϰϰϱ ϳϴ͕ϳϯϯ Ϯ ĐŚŽůĂƌƐŚŝƉ ϭ Ψ ϭ Ͳ Ϯ Ϯ Ψ Ψ Ψ D ^ & ŝĂŶĂ ĞůĂŶĐ &ŽǁůĞƌ ϱϭ͕ϮϬϮ ϯϭ͕ϭϯϱ ϮϬ͕Ϭϲϳ ϯϭ͕ϭϯϱ ϴϯ͕ϵϲϴ ϱϮ͕ϴϯϯͿ ϳϱϯ͕ϬϮϯ ϳϱϯ͕ϬϮϯ ϳϬϭ͕ϴϮϭ ϳϴϱ͕ϳϴϵ ďŽƌŝŐŝŶĂů ĐŚŽůĂƌƐŚŝƉ ŽĐŝĂůtŽƌŬ Ψ Ͳ Ψ Ψ Ψ ; > ^ ^ ƌƵƐƚ ͕Ϭϳϱ ϲ͕ϭϲϱ ϴϰ͕ϵϲϴ ϰϬ͕ϴϮϭ ϰϮ͕ϬϳϮ ϰϰ͕ϭϰϳ ϯϳ͕ϵϴϮ ĞƚĞƌĂŶƐ ͕Ϯϯϰ͕ϵϲϴ ͕ϭϱϬ͕ϬϬϬ ďŽƌŝŐŝŶĂů ϭ͕ϭϴϳ͕ϵϴϮ ϭ͕Ϯϯϰ͕ϵϲϴ ĐŚŽůĂƌƐŚŝƉ ϭ ϭ Ψ Ψ Ψ Ϯ ŽŶͲĞŶĚŽǁĞĚ ŶĚŽǁĞĚ Ψ ŽŶĂƚŝŽŶƐ E ĞŶĚŽĨǇĞĂƌ ŽŵƉƌŝƐĞĚŽĨ͗ &ƵŶĚďĂůĂŶĐĞƐ͕ hŶƌĞĂůŝǌĞĚŐĂŝŶ;ůŽƐƐͿ &ƵŶĚďĂůĂŶĐĞƐ͕ ŽŶŝŶǀĞƐƚŵĞŶƚƐ ǆĐĞƐƐŽĨƌĞǀĞŶƵĞ ďĞŐŝŶŶŝŶŐŽĨǇĞĂƌ ŽǀĞƌĞǆƉĞŶĚŝƚƵƌĞƐ ;ĞǆƉĞŶĚŝƚƵƌĞƐŽǀĞƌ /ŶǀĞƐƚŵĞŶƚŝŶĐŽŵĞ ƌĞǀĞŶƵĞͿ ^ƚĂƚĞŵĞŶƚƐŽĨKƉĞƌĂƚŝŽŶƐĂŶĚŚĂŶŐĞƐŝŶ&ƵŶĚĂůĂŶĐĞƐʹZĞƐƚƌŝ /E^W/Z ƐĐŚŽůĂƌƐŚŝƉƐ;ŶŽƚĞϭϬͿ ǆƉĞŶĚŝƚƵƌĞƐ ǁĂƌĚƐĂŶĚ zĞĂƌĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯ s ^ ZĞǀĞŶƵĞ͗ d /E^W/Z ^ƚĂƚĞŵĞŶƚƐŽĨKƉĞƌĂƚŝŽŶƐĂŶĚŚĂŶŐĞƐŝŶ&ƵŶĚĂůĂŶĐĞƐʹZĞƐƚƌŝĐƚĞĚ&ƵŶĚ;ĐŽŶƚŝŶƵĞĚͿ zĞĂƌƐĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯ KŶƚĂƌŝŽ dŚĞĂŶĂĚŝĂŶĂƌ&ĞĚĞƌĂƚŝŽŶEŽƌƚŚǁĞƐƚ ƐƐŽĐŝĂƚŝŽŶŽĨ ŽĨ/ŶĚŝĂŶŽŵƉĂŶǇͬ/ĂŶ>ĞŽŶĂƌĚ'͘ <ŽƐŬŝĞDŝŶƐŬǇƌŝƚŚŝƐŚŽůƵŵďŝĂ͛Ɛ&ƌŝĞŶĚƐŚŝƉ ^ƵƚŚĞƌůĂŶĚ &ůĞƚƚƵƌƐĂƌǇ>ŝŶĚĂ:ŽǇĐĞ >>WďŽƌŝŐŝŶĂůĞŶƚƌĞƐ^ĐŚŽůĂƌƐŚŝƉŝŶƵƐŝŶĞƐƐ'ĂŶůǇ ^ĐŚŽůĂƌƐŚŝƉ^ĐŚŽůĂƌƐŚŝƉDŝĐŚĂĞůƵƌƐĂƌǇǁĂƌĚƐ ƵƌƐĂƌǇ ĂŶĚ ^ĐŚŽůĂƌƐŚŝƉ ǁĂƌĚdƌƵƐƚDĐ<ŝŶŶŽŶ WƌŽŐƌĂŵǁĂƌĚŽŵŵĞƌĐĞ &ƵŶĚdŽƚĂů /ŶǀĞƐƚŵĞŶƚŝŶĐŽŵĞΨ ϱϲϲΨϳ͕ϴϯϱΨϮ͕ϬϯϬΨϭ͕ϯϲϮΨϮ͕ϰϴϴΨ ϮϴϳΨϱ͕ϳϮϴΨ ϴϴϮ͕ϭϴϱ ŽŶĂƚŝŽŶƐͲ ϭϬ͕ϰϮϱͲͲͲͲͲ ϮϮ͕ϴϭϯ ϱϲϲ ϭϴ͕ϮϲϬϮ͕ϬϯϬϭ͕ϯϲϮϮ͕ϰϴϴ Ϯϴϳϱ͕ϳϮϴ ϵϬϰ͕ϵϵϴ ǆƉĞŶĚŝƚƵƌĞƐ ǁĂƌĚƐĂŶĚ ƐĐŚŽůĂƌƐŚŝƉƐ;ŶŽƚĞϭϬͿͲϰ͕ϴϬϲ ϭϭ͕ϬϬϬ ϭϬ͕ϬϬϬϭ͕ϵϮϲͲͲ ϵϴϮ͕ϵϰϲ ǆĐĞƐƐŽĨƌĞǀĞŶƵĞ ŽǀĞƌĞǆƉĞŶĚŝƚƵƌĞƐ ;ĞǆƉĞŶĚŝƚƵƌĞƐŽǀĞƌ ƌĞǀĞŶƵĞͿ ϱϲϲ ϭϯ͕ϰϱϰ;ϴ͕ϵϳϬͿ ;ϴ͕ϲϯϴͿ ϱϲϮ Ϯϴϳϱ͕ϳϮϴ;ϳϳ͕ϵϰϴͿ &ƵŶĚďĂůĂŶĐĞƐ͕ ďĞŐŝŶŶŝŶŐŽĨǇĞĂƌ Ϯϭ͕ϵϳϲ Ϯϵϴ͕ϭϴϲ ϴϴ͕ϴϰϴ ϲϯ͕ϲϭϵ ϵϴ͕ϵϮϳ ϭϬ͕ϲϬϵϮϬϬ͕ϬϬϬ Ϯϱ͕ϵϯϱ͕ϰϱϰ hŶƌĞĂůŝǌĞĚŐĂŝŶ;ůŽƐƐͿ ŽŶŝŶǀĞƐƚŵĞŶƚƐ ϳϲϵ ϭϬ͕ϮϮϳϮ͕ϳϭϴϭ͕ϴϴϬϯ͕ϰϬϬ ϯϲϳϲ͕ϳϮϱ ϲϰϭ͕ϵϰϴ &ƵŶĚďĂůĂŶĐĞƐ͕ ĞŶĚŽĨǇĞĂƌ Ψ Ϯϯ͕ϯϭϭΨ ϯϮϭ͕ϴϲϳΨ ϴϮ͕ϱϵϲΨ ϱϲ͕ϴϲϭΨ ϭϬϮ͕ϴϴϵΨϭϭ͕ϮϲϯΨϮϭϮ͕ϰϱϯ ΨϮϲ͕ϰϵϵ͕ϰϱϰ ŽŵƉƌŝƐĞĚŽĨ͗ ŶĚŽǁĞĚΨ ϮϬ͕ϲϯϲΨ ϯϬϵ͕ϮϳϴΨ ϳϭ͕ϱϵϲΨ ϰϲ͕ϴϲϭΨ ϵϳ͕ϬϬϬΨ ϭϭ͕ϮϲϯΨϮϬϬ͕ϬϬϬ ΨϮϰ͕ϵϳϬ͕ϯϲϬ EŽŶͲĞŶĚŽǁĞĚϮ͕ϲϳϱ ϭϮ͕ϱϴϵ ϭϭ͕ϬϬϬ ϭϬ͕ϬϬϬϱ͕ϴϴϵͲ ϭϮ͕ϰϱϯϭ͕ϱϮϵ͕Ϭϵϰ Ψ Ϯϯ͕ϯϭϭΨ ϯϮϭ͕ϴϲϳΨ ϴϮ͕ϱϵϲΨ ϱϲ͕ϴϲϭΨ ϭϬϮ͕ϴϴϵΨ ϭϭ͕ϮϲϯΨϮϭϮ͕ϰϱϯ ΨϮϲ͕ϰϵϵ͕ϰϱϰ

6 | Indspire Appendix: Financial Statement ϳ ϰϯϰ ϰϯϰ ϮϴϱͿ ͕ϭϰϬ ϭ͕ϳϬϲͿ ĞŽƌŐĞ ůŽŶĚŝŶ ǁĂƌĚ ϮϮ͕ϴϬϭ ϮϬ͕ϴϭϬ ϮϬ͕ϴϭϬ ϮϬ͕ϴϭϬ ďŽƌŝŐŝŶĂů ĐŚŽůĂƌƐŚŝƉ ; ; Ϯ Ͳ ' Ͳ Ψ Ψ Ψ Ψ ^ Ŷƚ Annual Report 2012-2013 | 7 Annual Report ĂŶĂĚĂ ϳϴϳ͕ϰϰϰ ϴϬϳ͕ϬϱϲͿ ϳϴϳ͕ϰϰϰ ϳϳϱ͕ϮϯϮ ϯϭϰ͕ϯϰϮͿ ϭ͕ϱϵϰ͕ϱϬϬ Ϯϯ͕ϴϵϲ͕ϲϯϬ ϮϮ͕ϬϬϬ͕ϬϬϬ ϮϮ͕ϳϳϱ͕ϮϯϮ ϮϮ͕ϳϳϱ͕ϮϯϮ ĐŚŽůĂƌƐŚŝƉƐ 'ŽǀĞƌŶŵĞ WŽƐƚͲ^ĞĐŽŶĚĂƌǇ Ψ Ψ Ψ ; Ψ ^ Ͳ ϴϱͿ; ϴϮϵ ϴϮϵ ϴϮϵ ͕ϭϳϲ ;ϰ ŽďĞƌƚĂ ϯϴ͕ϴϯϮ Ψϯϵ͕ϭϳϲ Ψϯϵ͕ϭϳϲ Ψϯϵ :ĂŵŝĞƐŽŶ Ͳ Ͳ Ψ Z Ͳ ϲϭ ϭϱ ϱ ƚŝŽŶ ͕ϵϬϬ ͕ϯϭϱ ͕ϴϭϯ ͕ϱϬϬ ͕ϯ ϭ͕ϱϴϱͿ ϭ͕ϲϲϯͿ ǁĂƌĚ KŶƚĂƌŝŽ ϭϭϰ͕ ϭϭϭ͕ϯϭϯ ϭϬϴ ϭϭϭ͕ϯϭϯ ϯ ďŽƌŝŐŝŶĂů ĞĐŽŐŶŝ ĂƌƚŶĞƌƐŚŝƉƐ ; ; ϰ ϯ Ψ Ψ Ϯ Ψ Ψ W Z Ͳ Ɛ ϰϵϰ ϱϭϭ ϰϵϰ ͕ϲϬϬ ;ϯϭϱͿ ĂŶĂĚĂ ;ϭ͕ϭϬϲͿ ŝƚŝďĂŶŬ Ϯϱ͕ϭϴϮ Ϯϯ͕ϳϲϭ Ϯϯ͕ϮϱϬ Ϯϯ͕ϳϲϭ ďŽƌŝŐŝŶĂů ^ƚƵĚĞŶƚ ǁĂƌĚŽĨ ϭ Ψ Ψ Ψ Ψ Ͳ ͕ϬϬϬ ͕ϵϲϯ ͕ϵϵϯ ͕ϵϲϯ ϰ͕ϬϯϳͿ Ϯ͕ϱϱϭͿ ĨĞƚŚ ĞŵŽƌǇ ϭϯϳ͕Ϭϴϭ ϭϯϬ͕ϰϵϯ ϭϮϲ͕ϱϬϬ ϭϯϬ͕ϰϵϯ ϰ ǁĂƌĚŝŶ ZŽǇĂůĂŶŬ ,ĂŵŝůƚŽŶĞůů ĐƚĞĚ&ƵŶĚ;ĐŽŶƚŝŶƵĞĚͿ ϵ ϰ ; Ψ Ψ Ψ Ψ D ϯ Ž Ͳ ϵϴϴͿ; Ϯϭϵ ϵϵϯ ƵƐŝĐ ƵŶĚ ͕ϯϬϬ ͕ϱϭϵ ͕ϱϭϵ ĞƐƐĞƌ ϳϵ͕ϱϬϮ ϳϴ͕ϳϯϯ ϳϳ͕ϳϰϬ ϳϴ͕ϳϯϯ Ϯ ĐŚŽůĂƌƐŚŝƉ ; Ϯ Ψ Ψ Ϯ Ψ Ψ D Ͳ ^ & ŝĂŶĂ ĞůĂŶĐ &ŽǁůĞƌ ϰϵ͕ϵϬϬ Ϯϴ͕Ϯϭϴ Ϯϴ͕Ϯϭϴ Ϯϭ͕ϲϴϮͿ ϭϯ͕ϮϬϰͿ Ϯϯ͕ϵϲϴ ϴϮϬ͕ϲϳϱ ϳϴϱ͕ϳϴϵ ϳϲϭ͕ϴϮϭ ϳϴϱ͕ϳϴϵ ďŽƌŝŐŝŶĂů ĐŚŽůĂƌƐŚŝƉ ŽĐŝĂůtŽƌŬ ; ; Ψ Ψ Ψ Ψ > Ͳ ^ ^ ƌƵƐƚ ͕ϱϬϱ ϴϴ͕ϲϬϬ ϰϴ͕ϱϭϮ ϰϳ͕ϬϬϳ Ϯϲ͕ϲϲϭͿ ϯϳ͕ϵϴϮ ĞƚĞƌĂŶƐ ;ϰϬ͕ϬϴϴͿ ďŽƌŝŐŝŶĂů ϭ͕Ϯϱϰ͕ϳϯϭ ĐŚŽůĂƌƐŚŝƉ Ψϭ͕ϭϱϬ͕ϬϬϬ Ψϭ͕ϭϴϳ͕ϵϴϮ Ψϭ͕ϭϴϳ͕ϵϴϮ Ψ ; ϭ ŽŶͲĞŶĚŽǁĞĚ ŶĚŽǁĞĚ ƐĐŚŽůĂƌƐŚŝƉƐ;ŶŽƚĞϭϬͿ ǆƉĞŶĚŝƚƵƌĞƐ ǁĂƌĚƐĂŶĚ ŽŵƉƌŝƐĞĚŽĨ͗ &ƵŶĚďĂůĂŶĐĞƐ͕ ĞŶĚŽĨǇĞĂƌ hŶƌĞĂůŝǌĞĚŐĂŝŶ;ůŽƐƐͿ ŽŶŝŶǀĞƐƚŵĞŶƚƐ &ƵŶĚďĂůĂŶĐĞƐ͕ ďĞŐŝŶŶŝŶŐŽĨǇĞĂƌ ǆĐĞƐƐŽĨƌĞǀĞŶƵĞ ŽǀĞƌĞǆƉĞŶĚŝƚƵƌĞƐ ;ĞǆƉĞŶĚŝƚƵƌĞƐŽǀĞƌ zĞĂƌĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϮ ƌĞǀĞŶƵĞͿ /ŶǀĞƐƚŵĞŶƚŝŶĐŽŵĞ ^ƚĂƚĞŵĞŶƚƐŽĨKƉĞƌĂƚŝŽŶƐĂŶĚŚĂŶŐĞƐŝŶ&ƵŶĚĂůĂŶĐĞƐʹZĞƐƚƌŝ /E^W/Z s E ŽŶĂƚŝŽŶƐ ZĞǀĞŶƵĞ͗ ^ d /E^W/Z ^ƚĂƚĞŵĞŶƚƐŽĨKƉĞƌĂƚŝŽŶƐĂŶĚŚĂŶŐĞƐŝŶ&ƵŶĚĂůĂŶĐĞƐʹZĞƐƚƌŝĐƚĞĚ&ƵŶĚ;ĐŽŶƚŝŶƵĞĚͿ zĞĂƌĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϮ KŶƚĂƌŝŽ dŚĞĂŶĂĚŝĂŶĂƌ&ĞĚĞƌĂƚŝŽŶEŽƌƚŚǁĞƐƚ ƐƐŽĐŝĂƚŝŽŶŽĨ ŽĨ/ŶĚŝĂŶŽŵƉĂŶǇͬ/ĂŶ>ĞŽŶĂƌĚ'͘ <ŽƐŬŝĞDŝŶƐŬǇƌŝƚŚŝƐŚŽůƵŵďŝĂ͛Ɛ&ƌŝĞŶĚƐŚŝƉ ^ƵƚŚĞƌůĂŶĚ &ůĞƚƚƵƌƐĂƌǇ>ŝŶĚĂ:ŽǇĐĞ >>WďŽƌŝŐŝŶĂůĞŶƚƌĞƐ^ĐŚŽůĂƌƐŚŝƉŝŶƵƐŝŶĞƐƐ'ĂŶůǇ ^ĐŚŽůĂƌƐŚŝƉ^ĐŚŽůĂƌƐŚŝƉDŝĐŚĂĞůƵƌƐĂƌǇǁĂƌĚƐ ƵƌƐĂƌǇ ĂŶĚ ^ĐŚŽůĂƌƐŚŝƉ ǁĂƌĚdƌƵƐƚDĐ<ŝŶŶŽŶ WƌŽŐƌĂŵǁĂƌĚŽŵŵĞƌĐĞ &ƵŶĚdŽƚĂů /ŶǀĞƐƚŵĞŶƚŝŶĐŽŵĞΨ ϰϱϴΨϲ͕ϯϳϰΨϭ͕ϴϴϱΨϭ͕ϯϮϮΨϮ͕ϬϱϲΨ ϮϯϮΨͲΨ ϴϴϳ͕ϱϱϬ ŽŶĂƚŝŽŶƐͲ ϭϬ͕ϬϱϬ ϱϬ͕ϬϬϬͲͲͲ ϮϬϬ͕ϬϬϬ Ϯϲϭ͕ϱϱϱ ϰϱϴ ϭϲ͕ϰϮϰ ϱϭ͕ϴϴϱϭ͕ϯϮϮϮ͕Ϭϱϲ ϮϯϮ ϮϬϬ͕ϬϬϬϭ͕ϭϰϵ͕ϭϬϱ ǆƉĞŶĚŝƚƵƌĞƐ ǁĂƌĚƐĂŶĚ ƐĐŚŽůĂƌƐŚŝƉƐ;ŶŽƚĞϭϬͿϮ͕ϲϳϱ ϭϮ͕ϮϬϬ ϭϭ͕ϬϬϬ ϭϬ͕ϬϬϬϲ͕ϴϬϬͲͲϭ͕ϳϵϱ͕ϲϭϱ ǆĐĞƐƐŽĨƌĞǀĞŶƵĞ ŽǀĞƌĞǆƉĞŶĚŝƚƵƌĞƐ ;ĞǆƉĞŶĚŝƚƵƌĞƐŽǀĞƌ ƌĞǀĞŶƵĞͿ ;Ϯ͕ϮϭϳͿ ϰ͕ϮϮϰ ϰϬ͕ϴϴϱ;ϴ͕ϲϳϴͿ;ϰ͕ϳϰϰͿ ϮϯϮ ϮϬϬ͕ϬϬϬ;ϲϰϲ͕ϱϭϬͿ &ƵŶĚďĂůĂŶĐĞƐ͕ ďĞŐŝŶŶŝŶŐŽĨǇĞĂƌ Ϯϰ͕ϰϵϵ Ϯϵϳ͕ϲϴϵ ϰϴ͕ϱϳϬ ϳϯ͕ϮϭϮ ϭϬϰ͕ϵϴϯ ϭϬ͕ϱϬϴͲ Ϯϲ͕ϵϰϵ͕ϰϱϲ hŶƌĞĂůŝǌĞĚŐĂŝŶ;ůŽƐƐͿ ŽŶŝŶǀĞƐƚŵĞŶƚƐ;ϯϬϲͿ;ϯ͕ϳϮϳͿ ;ϲϬϳͿ;ϵϭϱͿ;ϭ͕ϯϭϮͿ ;ϭϯϭͿͲ;ϯϲϳ͕ϰϵϮͿ &ƵŶĚďĂůĂŶĐĞƐ͕ ĞŶĚŽĨǇĞĂƌ Ψ Ϯϭ͕ϵϳϲΨϮϵϴ͕ϭϴϲΨ ϴϴ͕ϴϰϴΨ ϲϯ͕ϲϭϵΨ ϵϴ͕ϵϮϳΨ ϭϬ͕ϲϬϵΨϮϬϬ͕ϬϬϬ ΨϮϱ͕ϵϯϱ͕ϰϱϰ ŽŵƉƌŝƐĞĚŽĨ͗ ŶĚŽǁĞĚΨ Ϯϭ͕ϵϳϲΨϮϵϯ͕ϯϴϬΨ ϳϳ͕ϴϰϴΨ ϱϯ͕ϲϭϵΨ ϵϳ͕ϬϬϬΨ ϭϬ͕ϲϬϵΨϮϬϬ͕ϬϬϬ ΨϮϱ͕ϬϲϮ͕ϱϰϮ EŽŶͲĞŶĚŽǁĞĚͲϰ͕ϴϬϲ ϭϭ͕ϬϬϬ ϭϬ͕ϬϬϬϭ͕ϵϮϳͲͲ ϴϳϮ͕ϵϭϮ Ψ Ϯϭ͕ϵϳϲΨϮϵϴ͕ϭϴϲΨ ϴϴ͕ϴϰϴΨ ϲϯ͕ϲϭϵΨ ϵϴ͕ϵϮϳΨ ϭϬ͕ϲϬϵΨϮϬϬ͕ϬϬϬ ΨϮϱ͕ϵϯϱ͕ϰϱϰ

8 | Indspire Appendix: Financial Statement ϵ ϳϱϭ ϳϲϰ ϳϱϭ ϳϱϭ ϭ͕ϱϭϱ ĞŽƌŐĞ ůŽŶĚŝŶ ǁĂƌĚ Ϯϭ͕Ϯϴϲ ϮϮ͕ϴϬϭ Ϯϭ͕Ϯϴϲ ϮϮ͕ϴϬϭ ďŽƌŝŐŝŶĂů ĐŚŽůĂƌƐŚŝƉ Ͳ Ͳ ' Ψ ^ Ψ Ψ Ψ Ϭ Ŷƚ Annual Report 2012-2013 | 9 Annual Report ϴϳϰ ĂŶĂĚĂ ϰϵϲ͕ϰϭϱ ϴϵϬ͕ϬϬϬ ϯϵϯ͕ϱϴϱͿ ϰϵϲ͕ϰϭϱ ͕ϰϭϮ͕ ͕ϴϵϲ͕ϲϯ ϮϮ͕ϴϳϳ͕ϯϰϭ Ϯϯ͕ϴϵϲ͕ϲϯϬ ϮϮ͕ϬϬϬ͕ϬϬϬ Ϯϯ͕ϴϵϲ͕ϲϯϬ ĐŚŽůĂƌƐŚŝƉƐ 'ŽǀĞƌŶŵĞ WŽƐƚͲ^ĞĐŽŶĚĂƌǇ ϭ ; Ψ ^ Ψ Ψ ϭ Ͳ Ψ ͕Ϭϯϰ ͕ϭϬϬ ͕Ϭϯϰ ͕Ϭϴϳ ͕ϵϰϳ ŽďĞƌƚĂ ϯϬ͕ϲϵϴ ϯϴ͕ϴϯϮ ϯϴ͕ϴϯϮ ϯϴ͕ϴϯϮ ϭ :ĂŵŝĞƐŽŶ ϳ ϭ ϳ Ͳ Ψ Ψ Ψ Ͳ Z ϱ Ψ ϴϲ ϰϭ Ϭ ƚŝŽŶ ͕Ϯϰϭ ͕Ϯϯϰ ͕Ϯϰϭ ͕Ϯ ͕ϭϲϵ ϱ͕ϯϵϮ ǁĂƌĚ Ϭ KŶƚĂƌŝŽ ϭϬϰ͕ ϭϭϰ͕ϱϲϭ ϭϭϰ͕ϱϲϭ ϯ ϭ ďŽƌŝŐŝŶĂů ĞĐŽŐŶŝ ĂƌƚŶĞƌƐŚŝƉƐ ϯ ϳ Ͳ Ψ W Ψ Ψ Z ϵ Ͳ Ψ Ɛ ϮϳϰͿϯ ϴϮϲ ϵϭϳ ϴϮϲ ͕ϭϬϬ ͕ϵϯϮ ĂŶĂĚĂ ŝƚŝďĂŶŬ Ϯϰ͕ϱϯϵ Ϯϱ͕ϭϴϮ Ϯϯ͕ϮϱϬ Ϯϱ͕ϭϴϮ ďŽƌŝŐŝŶĂů ^ƚƵĚĞŶƚ ǁĂƌĚŽĨ ; ϭ Ψ Ψ Ψ ϭ Ͳ Ψ ͕ϴϰϬ ͕ϵϬϯ ͕ϴϰϬ ͕ϴϰϬ ĨĞƚŚ ĞŵŽƌǇ ϭϬ͕ϱϴϭ ϭϮϰ͕ϯϯϴ ϭϯϳ͕Ϭϴϭ ϭϮϲ͕ϱϬϬ ϭϯϳ͕Ϭϴϭ ϯ ǁĂƌĚŝŶ ZŽǇĂůĂŶŬ ,ĂŵŝůƚŽŶĞůů ĐƚĞĚ&ƵŶĚ;ĐŽŶƚŝŶƵĞĚͿ ϯ ϴ Ͳ ϯ Ψ Ψ Ψ D Ž Ͳ Ψ ƵƐŝĐ ƵŶĚ ͕Ϯϱϯ ͕ϵϴϵ ͕Ϯϱϯ ͕Ϯϱϯ ͕ϯϰϰ ĞƐƐĞƌ ϳϮ͕ϮϲϬ ϳϵ͕ϱϬϮ ϳϮ͕ϭϱϴ ϳϵ͕ϱϬϮ Ϯ ĐŚŽůĂƌƐŚŝƉ Ͳ Ϯ ϰ Ψ Ψ Ψ Ϯ D Ͳ ^ & Ψ ϳ ŝĂŶĂ ĞůĂŶĐ &ŽǁůĞƌ Ϯϯ͕ϭϴϭ ϱϮ͕ϰϲϬ Ϯϯ͕ϭϴϭ Ϯϯ͕ϭϴϭ ϱϴ͕ϴϱϰ ϳϰϱ͕Ϭϯϰ ϴϮϬ͕ϲϳϱ ϳϲϭ͕ϴϮϭ ϴϮϬ͕ϲϳϱ ďŽƌŝŐŝŶĂů ĐŚŽůĂƌƐŚŝƉ ŽĐŝĂůtŽƌŬ Ͳ Ψ Ψ Ψ > Ͳ ^ Ψ ^ ϰϬϱ ƌƵƐƚ ϯϱ͕ϱϮϱ ϴϮ͕ϳϵϵ ϯϱ͕ϭϮϬ ϯϱ͕ϱϮϱ ĞƚĞƌĂŶƐ ϭϬϰ͕ϳϯϭ ͕ϭϱϬ͕ϬϬϬ ͕Ϯϱϰ͕ϳϯϭ ďŽƌŝŐŝŶĂů ϭ͕ϭϯϲ͕ϰϬϳ ϭ͕Ϯϱϰ͕ϳϯϭ ĐŚŽůĂƌƐŚŝƉ ϭ ϭ Ψ Ψ Ͳ Ψ ŽŶͲĞŶĚŽǁĞĚ ŶĚŽǁĞĚ ƐĐŚŽůĂƌƐŚŝƉƐ ǆƉĞŶĚŝƚƵƌĞƐ ǁĂƌĚƐĂŶĚ ŽŵƉƌŝƐĞĚŽĨ͗ &ƵŶĚďĂůĂŶĐĞƐ͕ ĞŶĚŽĨǇĞĂƌ &ƵŶĚďĂůĂŶĐĞƐ͕ ďĞŐŝŶŶŝŶŐŽĨǇĞĂƌ ǆĐĞƐƐŽĨƌĞǀĞŶƵĞ ŽǀĞƌĞǆƉĞŶĚŝƚƵƌĞƐ ;ĞǆƉĞŶĚŝƚƵƌĞƐŽǀĞƌ ƌĞǀĞŶƵĞͿ hŶƌĞĂůŝǌĞĚŐĂŝŶ;ůŽƐƐͿ ŽŶŝŶǀĞƐƚŵĞŶƚƐ /ŶǀĞƐƚŵĞŶƚŝŶĐŽŵĞ ^ƚĂƚĞŵĞŶƚƐŽĨKƉĞƌĂƚŝŽŶƐĂŶĚŚĂŶŐĞƐŝŶ&ƵŶĚĂůĂŶĐĞƐʹZĞƐƚƌŝ /E^W/Z zĞĂƌĞŶĚĞĚƉƌŝůϭ͕ϮϬϭϭ s ZĞǀĞŶƵĞ͗ ŽŶĂƚŝŽŶƐ ^ d Ψ E /E^W/Z ^ƚĂƚĞŵĞŶƚƐŽĨKƉĞƌĂƚŝŽŶƐĂŶĚŚĂŶŐĞƐŝŶ&ƵŶĚĂůĂŶĐĞƐʹZĞƐƚƌŝĐƚĞĚ&ƵŶĚ;ĐŽŶƚŝŶƵĞĚͿ zĞĂƌĞŶĚĞĚƉƌŝůϭ͕ϮϬϭϭ KŶƚĂƌŝŽ dŚĞĂŶĂĚŝĂŶĂƌ&ĞĚĞƌĂƚŝŽŶEŽƌƚŚǁĞƐƚ ƐƐŽĐŝĂƚŝŽŶŽĨ ŽĨ/ŶĚŝĂŶŽŵƉĂŶǇͬ/ĂŶ>ĞŽŶĂƌĚ'͘ <ŽƐŬŝĞDŝŶƐŬǇƌŝƚŚŝƐŚŽůƵŵďŝĂ͛Ɛ&ƌŝĞŶĚƐŚŝƉ ^ƵƚŚĞƌůĂŶĚ &ůĞƚƚƵƌƐĂƌǇ>ŝŶĚĂ:ŽǇĐĞ >>WďŽƌŝŐŝŶĂůĞŶƚƌĞƐ^ĐŚŽůĂƌƐŚŝƉŝŶƵƐŝŶĞƐƐ'ĂŶůǇ ^ĐŚŽůĂƌƐŚŝƉ^ĐŚŽůĂƌƐŚŝƉDŝĐŚĂĞůƵƌƐĂƌǇǁĂƌĚƐ ƵƌƐĂƌǇ ĂŶĚ ^ĐŚŽůĂƌƐŚŝƉ ǁĂƌĚdƌƵƐƚDĐ<ŝŶŶŽŶ WƌŽŐƌĂŵǁĂƌĚŽŵŵĞƌĐĞ &ƵŶĚdŽƚĂů /ŶǀĞƐƚŵĞŶƚŝŶĐŽŵĞΨ ϴϬϳΨϳ͕ϰϬϬΨϭ͕ϳϵϵΨϮ͕ϰϭϮΨϯ͕ϰϰϱΨϳϴ Ψ Ͳ Ψ ϱϴϮ͕ϲϱϱ ŽŶĂƚŝŽŶƐͲ ϭϬϱ͕ϲϱϳͲͲͲ ϭϬ͕ϮϱϬͲ ϭϮϮ͕Ϯϱϵ ϴϬϳ ϭϭϯ͕Ϭϱϳϭ͕ϳϵϵϮ͕ϰϭϮϯ͕ϰϰϱ ϭϬ͕ϯϮϴͲ ϳϬϰ͕ϵϭϰ ǆƉĞŶĚŝƚƵƌĞƐ ǁĂƌĚƐĂŶĚ ƐĐŚŽůĂƌƐŚŝƉƐ Ͳϴ͕ϲϬϬ ϭϭ͕ϬϬϬ ϭϬ͕ϬϬϬϰ͕ϱϬϬͲͲ ϵϮϱ͕ϮϬϬ ǆĐĞƐƐŽĨƌĞǀĞŶƵĞ ŽǀĞƌĞǆƉĞŶĚŝƚƵƌĞƐ ;ĞǆƉĞŶĚŝƚƵƌĞƐŽǀĞƌ ƌĞǀĞŶƵĞͿ ϴϬϳ ϭϬϰ͕ϰϱϳ;ϵ͕ϮϬϭͿ ;ϳ͕ϱϴϴͿ ;ϭ͕ϬϱϱͿ ϭϬ͕ϯϮϴͲ;ϮϮϬ͕ϮϴϲͿ &ƵŶĚďĂůĂŶĐĞƐ͕ ďĞŐŝŶŶŝŶŐŽĨǇĞĂƌ ϮϮ͕ϴϳϭ ϭϴϳ͕Ϯϲϰ ϱϱ͕ϲϭϰ ϳϴ͕ϲϯϬ ϭϬϮ͕ϮϭϴͲͲ Ϯϱ͕ϱϴϮ͕ϱϴϲ hŶƌĞĂůŝǌĞĚŐĂŝŶ;ůŽƐƐͿ ŽŶŝŶǀĞƐƚŵĞŶƚƐ ϴϮϭϱ͕ϵϲϴϮ͕ϭϱϳϮ͕ϭϳϬϯ͕ϴϮϬ ϭϴϬͲϭ͕ϱϴϳ͕ϭϱϲ &ƵŶĚďĂůĂŶĐĞƐ͕ ĞŶĚŽĨǇĞĂƌ Ψ Ϯϰ͕ϰϵϵΨ Ϯϵϳ͕ϲϴϵΨ ϰϴ͕ϱϳϬΨ ϳϯ͕ϮϭϮΨϭϬϰ͕ϵϴϯΨϭϬ͕ϱϬϴΨͲΨϮϲ͕ϵϰϵ͕ϰϱϲ ŽŵƉƌŝƐĞĚŽĨ͗ ŶĚŽǁĞĚΨ Ϯϭ͕ϴϮϰΨ Ϯϴϯ͕ϯϯϬΨ ϯϳ͕ϱϳϬΨ ϲϯ͕ϮϭϮΨ ϵϳ͕ϬϬϬΨ ϭϬ͕ϱϬϴΨͲΨϮϰ͕ϴϭϮ͕͕ϲϴϯ EŽŶͲĞŶĚŽǁĞĚϮ͕ϲϳϱ ϭϰ͕ϯϱϵ ϭϭ͕ϬϬϬ ϭϬ͕ϬϬϬϳ͕ϵϴϯͲͲϮ͕ϭϯϲ͕ϳϳϯ Ψ Ϯϰ͕ϰϵϵΨ Ϯϵϳ͕ϲϴϵΨ ϰϴ͕ϱϳϬΨ ϳϯ͕ϮϭϮΨϭϬϰ͕ϵϴϯΨ ϭϬ͕ϱϬϴΨͲΨϮϲ͕ϵϰϵ͕ϰϱϲ

ϭϬ

10 | Indspire Appendix: Financial Statement Ϳ ϭϭ ϮϬϭϮ ϭϴϳ͕Ϭϯϭ ϰϭϮ͕ϰϲϮ ϭϰϭ͕ϵϴϯ Ϯϯϱ͕ϰϴϭ ϭϰϵ͕ϲϬϬͿ ϴϭϰ͕ϱϵϵͿ ϱϰϭ͕ϳϳϲͿ ϱϮϮ͕ϱϮϲͿ ϭϯϵ͕ϲϯϵͿ Ϯϵϱ͕ϯϵϵͿ ϭϳϲ͕ϬϴϴͿ ͕ϲϲϭ͕ϵϰϱ ϭ͕Ϭϭϰ͕ϬϬϮͿ ; ; Annual Report 2012-2013 | 11 Annual Report ; Ψ Ψ ϭ ; ; ; ; ; ; ϮϬϭϯ ϱϰ͕ϵϴϱ ϳϰ͕ϵϴϴͿ ϱϲϰ͕ϬϬϬ ϳϲϲ͕ϱϰϱ ϵϵϱ͕ϮϱϮ ϮϱϬ͕ϵϬϯ ϭϭϴ͕ϵϭϱ ϴϭϱ͕ϱϬϳͿ ϵϲϴ͕ϴϳϮͿ ϱϰϭ͕ϳϳϲͿ ;ϯϲϮ͕ϬϯϭͿ ;ϭϮϭ͕ϭϬϴͿ ;ϰϭϬ͕ϲϯϱͿ Ψ Ψ ; ; ; ; Ɛ ĐĐŽƵŶƚƐƌĞĐĞŝǀĂďůĞ ŵŽƌƚŝǌĂƚŝŽŶ WƌĞƉĂŝĚĞǆƉĞŶƐĞƐ ĐĐŽƵŶƚƐƉĂǇĂďůĞĂŶĚĂĐĐƌƵĞĚůŝĂďŝůŝƚŝĞ ĞĨĞƌƌĞĚĐŽŶƚƌŝďƵƚŝŽŶƐ ŽŶͲĐĂƐŚŝƚĞŵƐ͗ ĞĐƌĞĂƐĞ;ŝŶĐƌĞĂƐĞͿŝŶŝŶǀĞƐƚŵĞŶƚƐ͕ŶĞƚ ŚĂŶŐĞƐŝŶŶŽŶͲĐĂƐŚǁŽƌŬŝŶŐĐĂƉŝƚĂůďĂůĂŶĐĞƐ͗ ƵƌĐŚĂƐĞŽĨĐĂƉŝƚĂůĂƐƐĞƚƐĂŶĚŝŶƚĂŶŐŝďůĞƐ ǆƚĞƌŶĂůůǇƌĞƐƚƌŝĐƚĞĚĞŶĚŽǁŵĞŶƚƐ ǆĐĞƐƐŽĨĞǆƉĞŶƐĞƐŽǀĞƌƌĞǀĞŶƵĞ ĂŶŬŝŶĚĞďƚĞĚŶĞƐƐ͕ĞŶĚŽĨǇĞĂƌ E W ^ĞĞĂĐĐŽŵƉĂŶǇŝŶŐŶŽƚĞƐƚŽĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘ /ŶǀĞƐƚŝŶŐĂĐƚŝǀŝƚŝĞƐ͗ ĂƐŚƉƌŽǀŝĚĞĚďǇ;ƵƐĞĚŝŶͿ͗ KƉĞƌĂƚŝŶŐĂĐƚŝǀŝƚŝĞƐ͗ ^ƚĂƚĞŵĞŶƚƐŽĨĂƐŚ&ůŽǁƐ /E^W/Z &ŽƌƚŚĞǇĞĂƌĞŶĚĞĚDĂƌĐŚϯϭ ĂŶŬŝŶĚĞďƚĞĚŶĞƐƐ͕ďĞŐŝŶŶŝŶŐŽĨǇĞĂƌ /E^W/Z EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ zĞĂƌƐĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯĂŶĚϮϬϭϮ

dŚĞWƵƌƉŽƐĞŽĨƚŚĞKƌŐĂŶŝǌĂƚŝŽŶ͗ KŶ&ĞďƌƵĂƌǇϮϱ͕ϮϬϭϮ͕ƚŚĞEĂƚŝŽŶĂůďŽƌŝŐŝŶĂůĐŚŝĞǀĞŵĞŶƚ&ŽƵŶĚĂƚŝŽŶĐŚĂŶŐĞĚŝƚƐŶĂŵĞƚŽ/ŶĚƐƉŝƌĞ͘/ŶĂĚĚŝƚŝŽŶ͕ƐŽŵĞŽĨŝƚƐƉƌŽŐƌĂŵŶĂŵĞƐǁĞƌĞ ĐŚĂŶŐĞĚ͘dŚĞEĂƚŝŽŶĂůďŽƌŝŐŝŶĂůĐŚŝĞǀĞŵĞŶƚǁĂƌĚƐŝƐŶŽǁƚŚĞ/ŶĚƐƉŝƌĞǁĂƌĚƐ͗ĞůĞďƌĂƚŝŶŐ/ŶĚŝŐĞŶŽƵƐĐŚŝĞǀĞŵĞŶƚ͘ ĚƵĐĂƚŝŽŶĐŽŶƚŝŶƵĞƐƚŽƉƌŽǀŝĚĞ ƵƌƐĂƌŝĞƐ ĂŶĚ ^ĐŚŽůĂƌƐŚŝƉǁĂƌĚƐ ƚŽƐƚƵĚĞŶƚƐ͘ ůƵĞƉƌŝŶƚ ĨŽƌ ƚŚĞ &ƵƚƵƌĞŝƐ ŶŽǁ ^ŽĂƌŝŶŐ͗/ŶĚŝŐĞŶŽƵƐzŽƵƚŚĂƌĞĞƌŽŶĨĞƌĞŶĐĞ͘dŚĞĨŽƌŵĞƌ dĂŬŝŶŐWƵůƐĞ WƌŽŐƌĂŵŝƐŶŽǁ<ͲϭϮĂŶĚŝŶĐůƵĚĞƐ/ŶĚƵƐƚƌǇŝŶƚŚĞůĂƐƐƌŽŽŵ͗/ŶĚŝŐĞŶŽƵƐzŽƵƚŚĂƌĞĞƌ^ĞŵŝŶĂƌƐĂŶĚƚŚĞ/ŶĚƐƉŝƌĞ/ŶƐƚŝƚƵƚĞ͗WƌŽŵŽƚŝŶŐ/ŶĚŝŐĞŶŽƵƐĚƵĐĂƚŝŽŶ͘ /ŶĚƐƉŝƌĞŝƐĂŶĂƚŝŽŶĂůůǇƌĞŐŝƐƚĞƌĞĚĐŚĂƌŝƚǇĚĞĚŝĐĂƚĞĚƚŽƌĂŝƐŝŶŐĨƵŶĚƐƚŽĚĞůŝǀĞƌƉƌŽŐƌĂŵƐƚŚĂƚƉƌŽǀŝĚĞƚŚĞƚŽŽůƐŶĞĐĞƐƐĂƌǇĨŽƌ/ŶĚŝŐĞŶŽƵƐƉĞŽƉůĞƐ͕ĞƐƉĞĐŝĂůůǇ ǇŽƵƚŚ͕ƚŽĂĐŚŝĞǀĞƚŚĞŝƌƉŽƚĞŶƚŝĂů͘ ^ŝŶĐĞϭϵϴϱ/ŶĚƐƉŝƌĞ͕ƚŚƌŽƵŐŚŝƚƐƵŝůĚŝŶŐƌŝŐŚƚĞƌ&ƵƚƵƌĞƐƉƌŽŐƌĂŵ͕ŚĂƐĂǁĂƌĚĞĚŵŽƌĞƚŚĂŶΨϱϰŵŝůůŝŽŶŝŶƐĐŚŽůĂƌƐŚŝƉƐ ĂŶĚ ďƵƌƐĂƌŝĞƐƚŽ ŵŽƌĞƚŚĂŶ ϭϲ͕ϬϬϬ &ŝƌƐƚEĂƚŝŽŶ͕/ŶƵŝƚĂŶĚDĠƚŝƐƐƚƵĚĞŶƚƐ ŶĂƚŝŽŶǁŝĚĞ͘ /ŶĚƐƉŝƌĞŝƐ ƚŚĞ ůĂƌŐĞƐƚ ƉƌŽǀŝĚĞƌŽĨ ƐĐŚŽůĂƌƐŚŝƉƐ ĂŶĚ ďƵƌƐĂƌŝĞƐƚŽ /ŶĚŝŐĞŶŽƵƐƐƚƵĚĞŶƚƐŽƵƚƐŝĚĞŽĨƚŚĞ'ŽǀĞƌŶŵĞŶƚŽĨĂŶĂĚĂ͘ /ŶĚƐƉŝƌĞ͛ƐŽƚŚĞƌŬĞǇŝŶŝƚŝĂƚŝǀĞƐŝŶĐůƵĚĞƚŚĞ/ŶĚƐƉŝƌĞǁĂƌĚƐ͕ĂŶĂƚŝŽŶĂůĂŶŶƵĂůďƌŽĂĚĐĂƐƚĐĞůĞďƌĂƚŝŶŐϭϰĂĐŚŝĞǀĞƌƐŝŶĂŵƵůƚŝƚƵĚĞŽĨĐĂƌĞĞƌĂƌĞĂƐĂŶĚϯƐƉĞĐŝĂů ǇŽƵƚŚĂǁĂƌĚƐĂŶĚĂŶĂǁĂƌĚĨŽƌůŝĨĞƚŝŵĞĂĐŚŝĞǀĞŵĞŶƚ͘/ŶĚƵƐƚƌǇŝŶƚŚĞůĂƐƐƌŽŽŵƉƌĞƐĞŶƚƐĐĂƌĞĞƌŽƉƚŝŽŶƐŝŶƐƉĞĐŝĨŝĐŐƌŽǁƚŚƐĞĐƚŽƌƐƚŚƌŽƵŐŚĂƐĞƌŝĞƐŽĨƐŚŽƌƚ ĚŽĐƵŵĞŶƚĂƌŝĞƐĂŶĚƐƵƉƉŽƌƚŝŶŐĐƵƌƌŝĐƵůƵŵŵĂƚĞƌŝĂůƐǁŝƚŚƚŚĞĂŝŵŽĨƌĞĐƌƵŝƚŝŶŐ&ŝƌƐƚEĂƚŝŽŶ͕/ŶƵŝƚΘDĠƚŝƐǇŽƵƚŚ͘dŽĚĂƚĞ͕ŵŽƌĞƚŚĂŶϭϬ͕ϬϬϬƐƚƵĚĞŶƚƐŚĂǀĞ ƉĂƌƚŝĐŝƉĂƚĞĚŝŶƚŚĞƉƌŽŐƌĂŵ͘/ŶĚƐƉŝƌĞĂůƐŽĐŽŶŶĞĐƚƐ /ŶĚŝŐĞŶŽƵƐǇŽƵƚŚĚŝƌĞĐƚůǇǁŝƚŚ ďƵƐŝŶĞƐƐĂŶĚƉƵďůŝĐƐĞĐƚŽƌůĞĂĚĞƌƐƚŚƌŽƵŐŚŝƚƐ^ŽĂƌŝŶŐzŽƵƚŚĂƌĞĞƌ ŽŶĨĞƌĞŶĐĞƐ͕ǁŚŝĐŚƉƌĞƐĞŶƚƐĐŽŶĨĞƌĞŶĐĞƐŝŶĐŽŵŵƵŶŝƚŝĞƐĂĐƌŽƐƐĂŶĂĚĂ͘dŽĚĂƚĞ͕ŵŽƌĞƚŚĂŶϯϲ͕ϬϬϬ/ŶĚŝŐĞŶŽƵƐǇŽƵƚŚŚĂǀĞƉĂƌƚŝĐŝƉĂƚĞĚŝŶƚŚĞĐŽŶĨĞƌĞŶĐĞƐ͘ dŚĞƐĞĞǀĞŶƚƐĨĞĂƚƵƌĞƌŽůĞŵŽĚĞůƐ͕ĐĂƌĞĞƌǁŽƌŬƐŚŽƉƐĂŶĚĞŶŐĂŐŝŶŐƉƌĞƐĞŶƚĂƚŝŽŶƐŽŶĞŵƉůŽǇŵĞŶƚŽƉƉŽƌƚƵŶŝƚŝĞƐĂǀĂŝůĂďůĞŝŶƚŚĞƉƵďůŝĐĂŶĚƉƌŝǀĂƚĞƐĞĐƚŽƌƐŝŶ ĂŶĂĚĂ͘dŚĞ/ŶĚƐƉŝƌĞ/ŶƐƚŝƚƵƚĞ͕ŝƐƚŚĞŽŶůŝŶĞĐŽŵŵƵŶŝƚǇŽĨƌĞƐŽƵƌĐĞƐĂŶĚƚŽŽůƐĨŽƌĞĚƵĐĂƚŽƌƐ͕ƉĂƌĞŶƚƐ͕ƐƚƵĚĞŶƚƐĂŶĚŽƚŚĞƌƐƚŽŝŵƉƌŽǀĞƚŚĞŽƵƚĐŽŵĞƐĨŽƌ /ŶĚŝŐĞŶŽƵƐƐƚƵĚĞŶƚƐĨƌŽŵŬŝŶĚĞƌŐĂƌƚĞŶƚŽŐƌĂĚĞϭϮ͘

KŶƉƌŝůϭ͕ ϮϬϭϮ͕/ŶĚƐƉŝƌĞĂĚŽƉƚĞĚĂŶĂĚŝĂŶ ĐĐŽƵŶƚŝŶŐ ^ƚĂŶĚĂƌĚƐ ĨŽƌ EŽƚͲ&ŽƌͲWƌŽĨŝƚ ^ƚĂŶĚĂƌĚƐ ŝŶWĂƌƚ ///ŽĨ ƚŚĞ / ,ĂŶĚďŽŽŬ͘ dŚĞƐĞĂƌĞƚŚĞĨŝƌƐƚ ĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƉƌĞƉĂƌĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚEŽƚͲ&ŽƌͲWƌŽĨŝƚ^ƚĂŶĚĂƌĚƐ͘

/ŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞƚƌĂŶƐŝƚŝŽŶĂůƉƌŽǀŝƐŝŽŶƐŝŶEŽƚͲ&ŽƌͲWƌŽĨŝƚ^ƚĂŶĚĂƌĚƐ͕/ŶĚƐƉŝƌĞŚĂƐĂĚŽƉƚĞĚƚŚĞĐŚĂŶŐĞƐƌĞƚƌŽƐƉĞĐƚŝǀĞůǇ͕ƐƵďũĞĐƚƚŽĐĞƌƚĂŝŶĞǆĞŵƉƚŝŽŶƐ ĂůůŽǁĞĚ ƵŶĚĞƌ ƚŚĞƐĞ ƐƚĂŶĚĂƌĚƐ͘dŚĞ ƚƌĂŶƐŝƚŝŽŶĚĂƚĞŝƐ Ɖƌŝů ϭ͕ ϮϬϭϭĂŶĚĂůůĐŽŵƉĂƌĂƚŝǀĞŝŶĨŽƌŵĂƚŝŽŶƉƌŽǀŝĚĞĚ ŚĂƐ ďĞĞŶƉƌĞƐĞŶƚĞĚďǇ ĂƉƉůǇŝŶŐ EŽƚͲ&ŽƌͲWƌŽĨŝƚ^ƚĂŶĚĂƌĚƐ͘

ϭϮ

12 | Indspire Appendix: Financial Statement Ŷ Ŷ Ăƚ Ğƌ ŝ ϭϯ Ă ŽƌŬ ŽĨ, ĂŶĂĚĂ ĞƚĞƌĂŶƐ ŝƌĞĐƚŽƌƐ ǇĞĂƌƐ ŵĞĞƚŝŶŐ ǁ ΨϮϱ͕ϬϬϬ͘ Ĩ s ƉƵƌƐƵĞ Ž ŽĨ ŽĨ ŽƌĞ Ž ĞĨĨŽƌƚƐ ƚ ƐŽĐŝĂů ŵ Ĩ ƚƐ ƵĚĞŶƚƐ ƚ Žƌ Ŷ ŽƌŝŐŝŶĂů Ž ƵƚŝŽŶ ƚŚĞ Ɛ ŽĂƌĚ ď Ɛ ď ĂŶĐŝĂůĂƐƐŝƐƚĂŶĐĞŝŶ ŶŝƚŝĂůĐŽŶƚƌŝďƵƚŝŽŶŽĨ Annual Report 2012-2013 | 13 Annual Report ƚǁŽ ŝƚƐ ƚƵĚĞ Ĩ ĂƌĞĂ Ǉ ŚĞ Ɛ 'ŽǀĞƌŶŵĞŶƚ ĐŽŶƚƌŝ Ž ƚ ď Ăůů ƚŚƌŽƵŐŚ Ŷ dŚĞ ŝ /ŶĚŝŐĞŶŽƵƐ ƚƵĚǇ ϵϵϴ ŝŶŝƚŝĂů Ž ƚ ϭ ŽĨƐ Ŷ /ŶĚŝŐĞŶŽƵƐ ŝŶ Ă ƚƵĚŝĞƐ ƐƚĂďůŝƐŚŝŶŐ ĞƚĞƌŵŝŶĞĚ ϭϵϵϲ͘ Ɛ ǁŝƚŚ ĂƐĚ ŽĨĞ ŶĂďůĞ ƌŽŐƌĂŵƐ Ğ Ɖ ŝůů ƐĐŚŽůĂƌƐŚŝƉƐ ϮϬϬϳ ƐƚĂďůŝƐŚĞĚ ŝŶ ĨƵŶĚƐ͕ ǁ ŽǀĞŵďĞƌ͕ Ŷ Ğ ƉƵƌƉŽƐĞ ŝ E ƵŶĚ ŝŶ ƚƌƵƐƚ ĂǁĂƌĚ ĨƵŶĚ ƉŽƐƚͲƐĞĐŽŶĚĂƌǇ Ĩ Ž ĞŶŐĂŐĞĚ ŚĞ ƚ ƐƉĞĐŝĨŝĐ ƐƚĂďůŝƐŚĞĚ ƉƵƌƐƵĞ ƵƐĞĚ ƚŚĞ Ğ Ğ ƌĞƐƚƌŝĐƚĞĚ ƐƚĂďůŝƐŚĞĚ ϮϬϬϬ͘d ƚŽ ƐĐŚŽůĂƌƐŚŝƉ ƐƚƵĚĞŶƚƐ ď Ğ ĨŽƌ ŝŶ ĨƵŶĚ ƚŽ ƚŚĞ Ɛ ĨƵŶĚ ƵŶĚ ŝ ƚƵĚĞŶƚƐ Ĩ ĨŽƌ Ɛ ĞǆƚĞƌŶĂůůǇ ĨƵŶĚ ƌƵƐƚ Ŷ ŶĚŝŐĞŶŽƵƐ ƌĞƐƚƌŝĐƚĞĚ ƐƚĂďůŝƐŚĞĚ / ƚ Ă Ğ ƚŚĞ ŝƐ ƚŽ ƉŽůŝĐŝĞƐ Ĩ ƌĞƐƚƌŝĐƚĞĚ ŝƐĂŶĞǆƚĞƌŶĂůůǇƌĞƐƚƌŝĐƚĞĚĨƵŶĚĞƐƚĂďůŝƐŚĞĚŝŶϭϵϵϴǁŝƚŚĂŶŝ ĂůůǇ Ě Ě ƌĂƚĞ ĚŝŐĞŶŽƵƐ Ž Ğ Ă ƵƐƐƚƵĚĞŶƚƐƐƚƵĚǇŝŶŐŝŶƚŚĞĨŝĞůĚƐŽĨŽŵŵĞƌĐĞĂŶĚƵƐŝŶĞƐƐĨŝŶ ƵŶĚ ĚƵŶŝǀĞƌƐŝƚŝĞƐĂŶĚĐŽůůĞŐĞƐĂĐƌŽƐƐĂŶĂĚĂ͘ Ĩ Ğ͛Ɛ ƵŶ /Ŷ ƌ Ğ ĞƉ ĐŽŶƚƌŝďƵƚŝŽŶƐ͘ Ɛ ĞǆƚĞƌŶ ǁĂƌĚ Ă Ă Ŷ ŝŶĐŽŵĞ ǆƚĞƌŶĂůůǇ /ŶĚƐƉŝ ŶĂďůĞ ŝŶ Ă ďĞ Ğ Ğ ŝƐ ŝƚŚ ƌĞƐƚƌŝĐƚĞĚ Ž ŝůů ĂŶ ĞůĚ ƚ ĐŚŽůĂƌƐŚŝƉ& ǁ ǁ Ɛ Ś ƌĞ ^ ŝ ŝŶƚĞƌĞƐƚ ďĞ Ă ƵŶĚ ŽƉƌŽǀŝĚĞ/ŶĚŝŐĞŶŽ Ž ƚƵĚĞŶƚƐ Ĩ ƵŶĚ ƚŚĞ ƚ tŽƌŬ ǆƚĞƌŶĂůůǇ ^ & ŚĞ Ğ d ƵƐĞĚ ĂĐĐŽƌĚĂŶĐĞ ĂŶ ƌƵƐƚ ŽĐŝĂů Ğ Ŷ Ɛ d ^ ŝ ŐƌŽǁƚŚ͕ ď ŝ /ŶĚƐƉŝƌĞƚ Ĩ Ž Ϳ ^ĐŚŽůĂƌƐŚŝƉƐ /ŶĚŝŐĞŶŽƵƐ Ž ƐƚŽ ĞǀĞů ƵŶĚ ƚ ĞůĂŶĐ͘ Ě ŝ ů & > ĨŽƌ ƵŶĚ͘ ďŽƌŝŐŝŶĂů ƵŶĚ ǇĞĂƌƐ ĐŚŽůĂƌƐŚŝƉ & Ĩ ^ ǁŽ &ŽǁůĞƌ ƚ ǁĂƌĚ ϭ͕ϭϱϬ͕ϬϬϬ Ψ ĞůĂŶĐ ^ĐŚŽůĂƌƐŚŝƉ ;͞s^d͟Ϳ > ĞƚĞƌĂŶƐ ŝĂŶĂ ƉŽƐƚͲƐĞĐŽŶĚĂƌǇ ĂŶĂĚĂ ƌƐ͘ ƌĂŶƚĞĚ DƵƐŝĐ dƌƵƐƚ ƚŚĞ Ő &ŽǁůĞƌ D ƚ &ŽůůŽǁŝŶŐ Ă ďŽƌŝŐŝŶĂůs ŝƚŝďĂŶŬ ĞƐƐĞƌ ŝĂŶĂ dŚĞŝŶĐŽŵĞĞĂƌŶĞĚŽŶƚŚĞ ĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞŐƌĞĞŵĞŶƚĂŶĚ/ŶĚƐƉŝƌĞ͛ƐƉŽůŝĐŝĞƐ͘ ĐĞƌƚĂŝŶĐƌŝƚĞƌŝĂ͘ dŚĞ dŚĞZŽǇĂůĂŶŬǁĂƌĚŝŶDĞŵŽƌǇŽĨĞƚŚ,ĂŵŝůƚŽŶĞůůdƌƵƐƚ&ƵŶĚ ΨϭϮϲ͕ϱϬϬ͘ ƵŶĚĞƌŐƌĂĚƵĂƚĞĚĞŐƌĞĞƉƌĞĨĞƌĂďůǇŝŶŵƵƐŝĐĂůƐƚƵĚŝĞƐĂƚƌĞĐŽŐŶŝǌ ƌĞĐŽŐŶŝǌĞĚƵŶŝǀĞƌƐŝƚŝĞƐĂŶĚĐŽůůĞŐĞƐĂĐƌŽƐƐĂŶĂĚĂ͘ dŚĞ ĨƌŽŵƚŝŵĞƚŽƚŝŵĞ͘ dŚĞ ;͞ĂŶĂĚĂ͟Ϳ ^ĐŚŽůĂƌƐŚŝƉ ĚƵƌĂƚŝŽŶ ǆĐĞůůĞŶĐǇ͕ dŚĞ dŚĞŽƉĞƌĂƚŝŶŐĨƵŶĚƌĞƉŽƌƚƐƵŶƌĞƐƚƌŝĐƚĞĚƌĞƐŽƵƌĐĞƐƚŽ/ŶĚƐƉŝƌĞ͘ &ƵŶĚĂĐĐŽƵŶƚŝŶŐ͗ /ŶĚƐƉŝƌĞĨŽůůŽǁƐƚŚĞƌĞƐƚƌŝĐƚĞĚĨƵŶĚŵĞƚŚŽĚŽĨĂĐĐŽƵŶƚŝŶŐĨŽƌ ;ĂͿ ^ŝŐŶŝĨŝĐĂŶƚĂĐĐŽƵŶƚŝŶŐƉŽůŝĐŝĞƐ͗ ϭ͘ EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ;ĐŽŶƚŝŶƵĞ zĞĂƌƐĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯĂŶĚϮϬϭϮ /E^W/Z /E^W/Z EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ;ĐŽŶƚŝŶƵĞĚͿ zĞĂƌƐĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯĂŶĚϮϬϭϮ

ϭ͘^ŝŐŶŝĨŝĐĂŶƚĂĐĐŽƵŶƚŝŶŐƉŽůŝĐŝĞƐ;ĐŽŶƚŝŶƵĞĚͿ͗ ;ĂͿ&ƵŶĚĂĐĐŽƵŶƚŝŶŐ;ĐŽŶƚŝŶƵĞĚͿ͗ dŚĞKŶƚĂƌŝŽďŽƌŝŐŝŶĂůWĂƌƚŶĞƌƐŚŝƉƐZĞĐŽŐŶŝƚŝŽŶ^ĐŚŽůĂƌƐŚŝƉ&ƵŶĚŝƐĂŶĞǆƚĞƌŶĂůůǇƌĞƐƚƌŝĐƚĞĚĨƵŶĚĞƐƚĂďůŝƐŚĞĚŝŶϮϬϬϬ͘dŚĞKŶƚĂƌŝŽEĂƚŝǀĞĨĨĂŝƌƐ ^ĞĐƌĞƚĂƌŝĂƚŐƌĂŶƚĞĚΨϭϬϬ͕ϬϬϬƚŽ/ŶĚƐƉŝƌĞƚŽďĞŬĞƉƚŝŶĂƐĞƉĂƌĂƚĞƚƌƵƐƚĨƵŶĚ͘dŚĞŝŶƚĞƌĞƐƚŝŶĐŽŵĞŽĨƚŚĞĨƵŶĚŝƐƚŽďĞƵƐĞĚƚŽĂǁĂƌĚƐĐŚŽůĂƌƐŚŝƉƐƚŽ /ŶĚŝŐĞŶŽƵƐƐƚƵĚĞŶƚƐƉƵƌƐƵŝŶŐƐƚƵĚŝĞƐĂƚKŶƚĂƌŝŽƉŽƐƚͲƐĞĐŽŶĚĂƌǇŝŶƐƚŝƚƵƚŝŽŶƐŝŶďƵƐŝŶĞƐƐ͕ƐĐŝĞŶĐĞĂŶĚͬŽƌƚĞĐŚŶŽůŽŐǇ͘ dŚĞ ZŽďĞƌƚĂ :ĂŵŝĞƐŽŶ&ƵŶĚŝƐ ĂŶĞǆƚĞƌŶĂůůǇ ƌĞƐƚƌŝĐƚĞĚ ĨƵŶĚĞƐƚĂďůŝƐŚĞĚ ŝŶ ϮϬϬϲ͘dŚĞĨƵŶĚƐĐŽŶƚŝŶƵĞ ƚŽďĞ ĂĐĐƵŵƵůĂƚĞĚ ƵŶƚŝů ƚŚĞƚĞƌŵƐ ĂŶĚ ĐŽŶĚŝƚŝŽŶƐŚĂǀĞďĞĞŶĚĞƚĞƌŵŝŶĞĚ͘ dŚĞ'ŽǀĞƌŶŵĞŶƚŽĨĂŶĂĚĂdƌƵƐƚ&ƵŶĚǁĂƐĐƌĞĂƚĞĚƚŽƉƌŽǀŝĚĞƉĞƌƉĞƚƵĂůĂŶŶƵĂůĨŝŶĂŶĐŝĂůƐƵƉƉŽƌƚƚŽ/ŶĚƐƉŝƌĞ͛ƐĚƵĐĂƚŝŽŶƉƌŽŐƌĂŵ͘dŚŝƐĨƵŶĚŚĂƐ ƐƉĞĐŝĨŝĐŝŶǀĞƐƚŵĞŶƚŐƵŝĚĞůŝŶĞƐ͘ dŚĞ ƌĞǀĞŶƵĞƐ ŐĞŶĞƌĂƚĞĚ ƚŚƌŽƵŐŚ ƚŚĞ ŝŶǀĞƐƚŵĞŶƚŽĨ ƚŚĞ ŐƌĂŶƚ ĂƌĞ ƚŽďĞ ƵƐĞĚďǇ /ŶĚƐƉŝƌĞƚŽ ƉƌŽǀŝĚĞ ďƵƌƐĂƌŝĞƐĂŶĚƐĐŚŽůĂƌƐŚŝƉƐ ƚŽ/ŶĚŝŐĞŶŽƵƐ ƉŽƐƚͲƐĞĐŽŶĚĂƌǇƐƚƵĚĞŶƚƐ͘dŚĞĨŝƌƐƚĂůůŽĐĂƚŝŽŶŽĨ ΨϭϮŵŝůůŝŽŶ ǁĂƐ ƌĞĐĞŝǀĞĚ ĂŶĚ ŝŶǀĞƐƚĞĚďǇ /ŶĚƐƉŝƌĞŝŶ ĞĐĞŵďĞƌ͕ ϮϬϬϯ͘dŚĞ ĨŝƌƐƚƐĐŚŽůĂƌƐŚŝƉƐ ƌĞƐƵůƚŝŶŐĨƌŽŵƌĞǀĞŶƵĞŐĞŶĞƌĂƚĞĚďǇƚŚĞĞŶĚŽǁŵĞŶƚǁĞƌĞĚŝƐďƵƌƐĞĚŝŶĨŝƐĐĂůϮϬϬϲ͘dŚĞƐĞĐŽŶĚĂůůŽĐĂƚŝŽŶŽĨΨϭϬŵŝůůŝŽŶǁĂƐƌĞĐĞŝǀĞĚĂŶĚŝŶǀĞƐƚĞĚ ďǇ/ŶĚƐƉŝƌĞŝŶƉƌŝů͕ϮϬϬϳ͘ dŚĞ'ĞŽƌŐĞůŽŶĚŝŶďŽƌŝŐŝŶĂů^ĐŚŽůĂƌƐŚŝƉ&ƵŶĚŝƐĂŶĞǆƚĞƌŶĂůůǇƌĞƐƚƌŝĐƚĞĚĨƵŶĚĞƐƚĂďůŝƐŚĞĚŽŶ:ƵůǇϭϬ͕ϮϬϬϳƚŽƉƌŽǀŝĚĞƐĐŚŽůĂƌƐŚŝƉƐĂŶĚďƵƌƐĂƌŝĞƐ ƚŽ^ƚĂƚƵƐ/ŶĚŝĂŶƐŽƌŝŐŝŶĂƚŝŶŐĨƌŽŵƚŚĞEŽƌƚŚtĞƐƚdĞƌƌŝƚŽƌŝĞƐǁŚŽĂƌĞĞŶƌŽůůĞĚŝŶƉŽƐƚͲƐĞĐŽŶĚĂƌǇĞĚƵĐĂƚŝŽŶƉƌŽŐƌĂŵƐ;ĐŽůůĞŐĞŽƌƵŶŝǀĞƌƐŝƚǇͿĂĐƌŽƐƐ ĂůůĚŝƐĐŝƉůŝŶĞƐĂŶĚĚĞŐƌĞĞƐ͘ dŚĞ<ŽƐŬŝĞDŝŶƐŬǇ>>W^ĐŚŽůĂƌƐŚŝƉ&ƵŶĚŝƐĂŶĞǆƚĞƌŶĂůůǇƌĞƐƚƌŝĐƚĞĚ&ƵŶĚĞƐƚĂďůŝƐŚĞĚŽŶEŽǀĞŵďĞƌϮϴ͕ϮϬϬϳƚŽƉƌŽǀŝĚĞƐĐŚŽůĂƌƐŚŝƉƐĂŶĚďƵƌƐĂƌŝĞƐƚŽ &ŝƌƐƚEĂƚŝŽŶƐ͕/ŶƵŝƚĂŶĚDĠƚŝƐŝŶĚŝǀŝĚƵĂůƐƉƵƌƐƵŝŶŐƉŽƐƚͲƐĞĐŽŶĚĂƌǇƐƚƵĚŝĞƐŝŶ>ĂǁŝŶĂŶĂĚĂĂƚĂƌĞĐŽŐŶŝǌĞĚ>Ăǁ^ĐŚŽŽů͘ dŚĞĂŶĂĚŝĂŶĂƌƐƐŽĐŝĂƚŝŽŶŽĨƌŝƚŝƐŚŽůƵŵďŝĂ͛ƐďŽƌŝŐŝŶĂů^ĐŚŽůĂƌƐŚŝƉdƌƵƐƚ&ƵŶĚǁĂƐĞƐƚĂďůŝƐŚĞĚŽŶDĂǇϭ͕ϮϬϬϳƚŽƉƌŽǀŝĚĞƐĐŚŽůĂƌƐŚŝƉƐƚŽ ƉĞŽƉůĞŽĨ/ŶĚŝŐĞŶŽƵƐĚĞƐĐĞŶƚƚŽĂƐƐŝƐƚƚŚĞŵƚŽƉƵƌƐƵĞĨŝƌƐƚǇĞĂƌƐƚƵĚŝĞƐĂƚĞŝƚŚĞƌƚŚĞ&ĂĐƵůƚǇŽĨ>ĂǁŽĨƚŚĞhŶŝǀĞƌƐŝƚǇŽĨƌŝƚŝƐŚŽůƵŵďŝĂŽƌƚŚĞ hŶŝǀĞƌƐŝƚǇŽĨsŝĐƚŽƌŝĂ͘

ϭϰ

14 | Indspire Appendix: Financial Statement Ĩ Ă Ž ŚĞ ϭϱ ƚ Ž Ž ƚ ƚ ŝĞůĚ Ŷƚŝů ƉƌŽǀŝĚĞ Ĩ ĨŝŶĂŶĐŝĂů ďƵƌƐĂƌŝĞƐ Ƶ Ž ƉƌŽŐƌĂŵƐ͕ ŚĞ ƚ ďƵƌƐĂƌŝĞƐ ĚĞ ŝ ĂŶŶƵĂůůǇ Ŷƚ Ϭϳ ŝ dŚĞƐĞ Ϭ ƉŽƐƚͲƐĞĐŽŶĚĂƌǇ ƵůĂƚĞĚ ĂŶĚ Ŷ Ϯ ƉƌŽǀ ŵ ƌĞůĂƚĞĚ ŝ ů Ž ĂƌĚĞĚ ŶĂĐĐŽƵŶƚŝŶŐƉĞƌŝŽĚ ϭϮ͕ ƚ Ă ĐĐƵ Annual Report 2012-2013 | 15 Annual Report ĞƌŝŽĚ͘ ŝŐŝŶĂůƌƚƐ͘ ƌŝďƵƚĞĚĂŶŶƵĂůůǇƵƉƚŽ Ăǁ Ă ƌĞƚĂŝ Ɖ ƵůǇ Ğ ƉƌŽŐƌĂŵƐ ƌ ďĞ ϮϬϬϴ : ď ĞŶƌŽůůĞĚ͕ Ž Ž ϭ͕ ŽŶ Ğ ƚ ƐĐŚŽůĂƌƐŚŝƉƐ ǁŝůů ď ƚ / ǁŝůů ƐƵďƐĞƋƵĞŶƚ ƌ ĞǀĞůŽƉŵĞŶƚ ƉƌŽǀŝĚĞ ĞĐĞŵďĞƌ Ž ĐŽŶƚŝŶƵĞ ϮϬϭϬ͘ ƐƚĂďůŝƐŚĞĚ Ě Ž ŚĂƚ ŝŶ ƚ ƚ ĂĚŵŝŶŝƐƚƌĂƚŝŽŶ ŶĚ ŽŶ ŚŝƐĂǁĂƌĚǁŝůůďĞĚŝƐƚ ŝŶ ƵŶĚƐ Ă Ĩ ĨƵŶĚĞ ϭϵϵϳ ĞŶƌŽůůĞĚ͕ ŚĞ d Ϯϰ͕ ĂƌĞ ďƵƐŝŶĞƐƐ ƐƚĂďůŝƐŚĞĚ ƚƌĂŝŶŝŶŐ ƐƚĂďůŝƐŚĞĚ ƌ ƵůǇ ƌĞĐŽŐŶŝǌĞĚ Ğ ǁŚŽ : Ž ƌĞƐƚƌŝĐƚĞĚ ĨƵŶĚĞ ŽŶ ŶĚ ĨƵŶĚ Ă ĐŽŵŵĞƌĐĞ͕ d DĂƌĐŚϯϭ͕ϮϬϭϮ͘ ƵŶŝǀĞƌƐŝƚǇ ƚƵĚŝĞƐ Ɛ ƐĞƚƚŝŶŐƐ ŶĚ ĂŶĚ Ă ĞǆƚĞƌŶĂůůǇ ƌĞƐƚƌŝĐƚĞĚ 'ƌĂŶƚƐĂƉƉƌŽǀĞĚďƵƚŶŽƚƌĞĐĞŝǀĞĚĂƚƚŚĞĞŶĚŽĨ ĚĞĨĞƌƌĞĚ Ŷ ƌĞƐƚƌŝĐƚĞĚ ĞƐƚĂďůŝƐŚĞĚ ƵƌďĂŶ Ɛ Ă Ŷ ŽůůĞŐĞ ŝƐ ŝ ŝƚŝ Đ ƐƚĂďůŝƐŚĞĚŽŶ ďƵƐŝŶĞƐƐ ƵŶĚ Ĩ Ğ & ƵŶĚ ĞǆƚĞƌŶĂůůǇ ƉŽƐƚͲƐĞĐŽŶĚĂƌǇ & ƌŝŽĚ͕ ĞƐŝĚŝŶŐ ĞǆƚĞƌŶĂůůǇ Ŷ ǁŝƚŚƌĞƐƉĞĐƚƚŽƚŚĞǇĞĂƌĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯ͘ ĨƵŶĚ ŝĐƚĞĚ ƌĞĚŝƚĞĚ Ă ŝŶ ƌ Ž ŝĞůĚ ƉĞ Ŷ ǁŝůůďĞŐŝǀĞŶƚŽĨŝƌƐƚǇĞĂƌƐƚƵĚĞŶƚƐǁŚŽĂƌĞƐƚƵĚǇŝŶŐƚŚĞďŽƌ Ɛ Ĩ ĐĐ Ğ ŚƚŚĞǇƌĞůĂƚĞ͘ Ă ŝ ƚĞĚ Ă ŝƐ ƌĞƐƚƌ ƚŚĞ ŝŶ ƵƚƵƌĞ ŝŶ &ƵŶĚ ĐŚŝůĚƌĞŶ Ĩ ƵŶĚ ŶĚŽǁŵĞŶƚ ĞŶƌŽůůĞĚ & Ă Ğ ƚŽ ď ǆƚĞƌŶĂůůǇ ĞŶƌŽůůĞĚ ŝůů Ğ ƚƵĚǇŝŶŐ ǁ Ɛ ŽŵŵĞƌĐĞ ĂŶ ĂƌĞ ĞŶƚƌĞƐ ĚĞƉĞŶĚĞŶƚ ĞǆƚĞƌŶĂůůǇƌĞƐƚƌŝĐ Ɛ ŚŽ ƌĞůĂƚĞƐ ŝ ŶĚŽǁŵĞŶƚ ŶĚ ǁ ŝƚŚ ǁŚŽ Ă ƚƵĚĞŶƚ Žƌ ƵŶĚ ǁ Ɛ ŐƌĂŶƚ & Ă ƌŝĞŶĚƐŚŝƉ ĠƚŝƐ Ĩ & ŽŵĞŶ Ϳ ǁĂƌĚ ƚƵĚĞŶƚƐ Ž D ƵƐŝŶĞƐƐ ƵƚŚĞƌůĂŶĚ Ě ǁ Ɛ ĞŶƌŽůůĞĚ ^ Žƌ Ŷ ŝ /ŶĚŝĂŶ ĂƌĞ Ĩ ƉŽƌƚŝŽŶ ƵƐƚŝĐĞ /ŶƵŝƚ Ž : ƵƌƐĂƌǇ Ă ǁŚŽ ŶĚŝŐĞŶŽƵƐ ŶĚŝŐĞŶŽƵƐ / / ŽŵƉĂŶǇͬ/ĂŶ ĂŶůǇ^ĐŚŽůĂƌƐŚŝƉ&ƵŶĚŝƐĂŶ ƚŽ ĂƚŝŽŶƐ͕ &ůĞƚƚ ' E '͘ DĐ<ŝŶŶŽŶ &ĞĚĞƌĂƚŝŽŶ ƚƵĚĞŶƚƐ tŚĞƌĞ ŵĂƚƵƌĞ ŽǇĐĞ Ɛ tĞƐƚ Ž &ŝƌƐƚ : ƚ KŶƚĂƌŝŽ DŝĐŚĂĞů ƐĐŚŽůĂƌƐŚŝƉƐ EŽƌƚŚ >ĞŽŶĂƌĚ ĂĐĐƌƵĞĚ͘ ƵŶĚĂĐĐŽƵŶƚŝŶŐ;ĐŽŶƚŝŶƵĞĚͿ͗ ďƵƌƐĂƌŝĞƐ ƐƚƵĚŝĞƐŽƌƚƌĂŝŶŝŶŐĂŶĚĚĞǀĞůŽƉŵĞŶƚƉƌŽŐƌĂŵƐ͘ :ƵƐƚŝĐĞ͘ dŚĞ ƚĞƌŵƐĂŶĚĐŽŶĚŝƚŝŽŶƐŚĂǀĞďĞĞŶĨŝŶĂůŝǌĞĚ͘ dŚĞ>ŝŶĚĂ ƚĞŶ/ŶĚŝŐĞŶŽƵƐƉŽƐƚƐĞĐŽŶĚĂƌǇĨĞŵĂůĞƐƚƵĚĞŶƚƐ͘&ŝƌƐƚƉƌĞĨĞƌĞŶĐ ZĞǀĞŶƵĞƌĞĐŽŐŶŝƚŝŽŶ͗ KƉĞƌĂƚŝŶŐŐƌĂŶƚƐĂƌĞƌĞĐŽƌĚĞĚĂƐƌĞǀĞŶƵĞŝŶƚŚĞƉĞƌŝŽĚƚŽǁŚŝĐ ĂŶĚ ǁŝƚŚĂƉƌĞĨĞƌĞŶĐĞƚŽ&ŝŶĂŶĐĞĂŶĚͬŽƌZĞƚĂŝůƐƚƵĚĞŶƚƐ͘ dŚĞ dŚĞ /ŶĚŝŐĞŶŽƵƐ ĚĞƐĞƌǀŝŶŐ ĂƌĞ dŚĞ ƐƚĂƚĞŵĞŶƚƐƌĞĨůĞĐƚĂŐƌĞĞĚĂƌƌĂŶŐĞŵĞŶƚƐĂƉƉƌŽǀĞĚďǇƚŚĞDŝŶŝƐƚƌǇ Ϳ& ;ďͿ ;Ă ^ŝŐŶŝĨŝĐĂŶƚĂĐĐŽƵŶƚŝŶŐƉŽůŝĐŝĞƐ;ĐŽŶƚŝŶƵĞĚͿ͗ ϭ͘ EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ;ĐŽŶƚŝŶƵĞ zĞĂƌƐĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯĂŶĚϮϬϭϮ /E^W/Z /E^W/Z EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ;ĐŽŶƚŝŶƵĞĚͿ zĞĂƌƐĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯĂŶĚϮϬϭϮ

ϭ͘^ŝŐŶŝĨŝĐĂŶƚĂĐĐŽƵŶƚŝŶŐƉŽůŝĐŝĞƐ;ĐŽŶƚŝŶƵĞĚͿ͗ ;ďͿ ZĞǀĞŶƵĞƌĞĐŽŐŶŝƚŝŽŶ;ĐŽŶƚŝŶƵĞĚͿ͗ ZĞƐƚƌŝĐƚĞĚĐŽŶƚƌŝďƵƚŝŽŶƐĂƌĞƌĞĐŽŐŶŝǌĞĚĂƐƌĞǀĞŶƵĞŽĨƚŚĞĂƉƉƌŽƉƌŝĂƚĞƌĞƐƚƌŝĐƚĞĚĨƵŶĚ hŶƌĞƐƚƌŝĐƚĞĚĐŽŶƚƌŝďƵƚŝŽŶƐĂƌĞƌĞĐŽŐŶŝǌĞĚĂƐƌĞǀĞŶƵĞǁŚĞŶƌĞĐĞŝǀĞĚŽƌƌĞĐĞŝǀĂďůĞŝĨƚŚĞĂŵŽƵŶƚƚŽďĞƌĞĐĞŝǀĞĚĐĂŶďĞƌĞĂƐŽŶĂďůǇĞƐƚŝŵĂƚĞĚĂŶĚ ĐŽůůĞĐƚŝŽŶŝƐƌĞĂƐŽŶĂďůǇĂƐƐƵƌĞĚ͘ ŶĚŽǁŵĞŶƚĐŽŶƚƌŝďƵƚŝŽŶƐĂƌĞƌĞĐŽŐŶŝǌĞĚĂƐĚŝƌĞĐƚŝŶĐƌĞĂƐĞƐŝŶĞŶĚŽǁŵĞŶƚŶĞƚĂƐƐĞƚƐ͘ ŽŶƚƌŝďƵƚŝŽŶƐĨŽƌĞŶĚŽǁŵĞŶƚĂƌĞƌĞĐŽŐŶŝǌĞĚ ĂƐ ƌĞǀĞŶƵĞŝŶ ƚŚĞ ĂƉƉůŝĐĂďůĞ ƌĞƐƚƌŝĐƚĞĚ ĨƵŶĚ͘/ŶǀĞƐƚŵĞŶƚ ŝŶĐŽŵĞĞĂƌŶĞĚ ŽŶ ƌĞƐƚƌŝĐƚĞĚ ƌĞƐŽƵƌĐĞƐŝƐƌĞĐŽŐŶŝǌĞĚĂƐƌĞǀĞŶƵĞŽĨƚŚĞĂƉƉůŝĐĂďůĞƌĞƐƚƌŝĐƚĞĚĨƵŶĚ͘ KƚŚĞƌŝŶǀĞƐƚŵĞŶƚŝŶĐŽŵĞŝƐƌĞĐŽŐŶŝǌĞĚĂƐƌĞǀĞŶƵĞŽĨƚŚĞŽƉĞƌĂƚŝŶŐĨƵŶĚ͘ ;ĐͿ /ŶǀĞƐƚŵĞŶƚƐ͗ /ŶǀĞƐƚŵĞŶƚƐĂƌĞƌĞĐŽƌĚĞĚĂƚŵĂƌŬĞƚǀĂůƵĞƚŽĂĚŚĞƌĞƚŽƚŚĞĨŝŶĂŶĐŝĂůŝŶƐƚƌƵŵĞŶƚƐƐƚĂŶĚĂƌĚƐĂĚŽƉƚĞĚ͘

;ĚͿ hƐĞŽĨĞƐƚŝŵĂƚĞƐ͗ dŚĞƉƌĞƉĂƌĂƚŝŽŶŽĨƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƌĞƋƵŝƌĞƐŵĂŶĂŐĞŵĞŶƚƚŽŵĂŬĞĞƐƚŝŵĂƚĞƐĂŶĚĂƐƐƵŵƉƚŝŽŶƐƚŚĂƚĂĨĨĞĐƚƚŚĞƌĞƉŽƌƚĞĚĂŵŽƵŶƚƐŽĨĂƐƐĞƚƐ ĂŶĚůŝĂďŝůŝƚŝĞƐĂŶĚĚŝƐĐůŽƐƵƌĞŽĨĐŽŶƚŝŶŐĞŶƚĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƚŝĞƐĂƚƚŚĞĚĂƚĞŽĨƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂŶĚƚŚĞƌĞƉŽƌƚĞĚĂŵŽƵŶƚƐŽĨƌĞǀĞŶƵĞƐĂŶĚ ĞǆƉĞŶĚŝƚƵƌĞƐĚƵƌŝŶŐƚŚĞǇĞĂƌ͘^ŝŐŶŝĨŝĐĂŶƚŝƚĞŵƐƐƵďũĞĐƚƚŽƐƵĐŚĞƐƚŝŵĂƚĞƐĂŶĚĂƐƐƵŵƉƚŝŽŶƐŝŶĐůƵĚĞƚŚĞĐĂƌƌǇŝŶŐĂŵŽƵŶƚŽĨĐĂƉŝƚĂůĂƐƐĞƚƐ͘ ĐƚƵĂů ƌĞƐƵůƚƐĐŽƵůĚĚŝĨĨĞƌĨƌŽŵƚŚŽƐĞĞƐƚŝŵĂƚĞƐ͘

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16 | Indspire Appendix: Financial Statement Ğ ϭϳ ƚŚ ϮϬй ϯϯй Ɖƌŝů Ž ZĂƚĞ ZĂƚĞ ǀĂůƵĞ͕ Ž ƚ ĐƋƵŝƌĞĚ ƚ Ăŝƌ Ă ϮϬйͲϯϯй Ĩ ƌŝŽƌ ŚĞ Ɖ ƚ ƐƐĞƚƐ ŶƚƌŝďƵƚĞƐ Ž Đ ŽŶ͘ ŝ ĂŝŶƚĞŶĂŶĐĞĐŽƐƚƐĂƌĞ Annual Report 2012-2013 | 17 Annual Report ŵŝŶŝŶŐ ĂĐƋƵŝƌĞĚ ŽǀĞƌƚĞƌŵŽĨƚŚĞůĞĂƐĞ ŵ ƚƐ ŽŶŐĞƌ ĞƚĞƌ ů ƐƐĞ ŶŽ Ă ŽĨĚ ĐŽŶƚƌŝďƵƚ Ĩ Ž ĞƉĂŝƌƐĂŶĚ ƐƐĞƚ Z Ă ĂƉŝƚĂů ĂƚĞ Ě ĚŝĨĨŝĐƵůƚǇ ŚĞ ĂƉŝƚĂů ƚŚĞ ƚ Đ Ĩ Ăƚ Ă Ž ĂƉƉƌŽƉƌŝĂƚĞ͘ Ɛ ǀĂůƵĞ tŚĞŶ Ă ĞĐĂƵƐĞ Ăŝƌ Ĩ Ğƌŵ͕ Ăƚ ƚ ĚĂƚĞƚŽEWKĂĐĐŽƵŶƚŝŶŐ͘ ǇĞĂƌ͘ ĐĂƉŝƚĂůŝǌĞĚ͘ ĞĂƐĞ ĂĐŚ ů Ğ ŚĞ ĂƌĞ ƌĞĐŽƌĚĞĚ ƚ ƌĂŶƐŝƚŝŽŶ ƚ ƚŝŵĞ ƌĞ ƐƐĞƚ Ă ŽǀĞƌ ŚĞ Ă ƌ ƚ ƚŚĞŝƌ Ž ĂŶ Ĩ Ĩ ĂƐƐĞƚƐ Ž ƐƐĞƚƐ ĞŽ ƚĂů ŝĨ ƵŶƚ ŝ Ă ů Ž ƚƌĂŝŐŚƚͲůŝŶĞďĂƐŝƐƵƐŝŶŐƚŚĞĨŽůůŽǁŝŶŐĂŶŶƵĂůƌĂƚĞƐ͗ ĂƉ ŚĞ Ɖƌŝůϭ͕ϮϬϭϭ͕ ĨŽůůŽǁŝŶŐĂŶŶƵĂůƌĂƚĞƐ͗ ŵĞŶƚƐ͘ Đ Ăŵ Ğ ǁƌŝƚƚĞŶĚŽǁŶƚŽŝƚƐƌĞƐŝĚƵĂůǀĂůƵĞ͘ ŽĨƚ ůŝĨĞ ƐƚŝŵĂƚĞĚ Ğ ǀĂůƵĞĂƚ ŚĞ ŽŶƚƌŝďƵƚĞĚ ƐŝŐŶŝĨŝĐĂŶƚ Ă ƐƚŝŵĂƚĞĚ ŽƐƚ͘ Ğ Đ ƚ ĞǆƚĞŶĚ ŚĞ Ăƚ ƚ ĞŝŶŐŝƚƐĨĂŝƌ ď ŽŶƚƌŝďƵƚĞ ŽǀĞƌ ǁŚŝĐŚ ŽƐƚ͕ Ϳ Đ Ě ƌĞĐŽƌĚĞĚ ƌĞ Đ ŽůƵŶƚĞĞƌƐ Ă ĂŵŽƌƚŝǌĞĚ ǀ ŽĨ ĞƚƚĞƌŵĞŶƚƐ ĂƌĞ ƐƐĞƚƐ Ă ĞĂƐĞƐ ŶƵŵďĞƌ ů ǆƉĞŶƐĞ͘ ĐĂƉŝƚĂů Ğ ƚŽ ĐĂƉŝƚĂů ƐƵďƐƚĂŶƚŝĂů ĐŚĂƌŐĞĚ /ŶĚƐƉŝƌĞΖƐĂďŝůŝƚǇƚŽƉƌŽǀŝĚĞƐĞƌǀŝĐĞƐ͕ŝƚƐĐĂƌƌǇŝŶŐĂŵŽƵŶƚŝƐ ĂƉŝƚĂůĂƐƐĞƚƐ͗ WƵƌĐŚĂƐĞĚ ĂƉŝƚĂůĂƐƐĞƚƐĂƌĞĂŵŽƌƚŝǌĞĚŽŶĂƐƚƌĂŝŐŚƚͲůŝŶĞďĂƐŝƐƵƐŝŶŐƚŚ >ĞĂƐĞŚŽůĚŝŵƉƌŽǀĞŵĞŶƚƐ ZĞďƌĂŶĚĐŽƐƚƐ ŽŵƉƵƚĞƌƐĂŶĚĞƋƵŝƉŵĞŶƚ ĐŽŶƚƌŝďƵƚĞĚƐĞƌǀŝĐĞƐĂƌĞŶŽƚƌĞĐŽŐŶŝǌĞĚŝŶƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞ ŽŶƚƌŝďƵƚĞĚƐĞƌǀŝĐĞƐ͗ /ŶƚĂŶŐŝďůĞĂƐƐĞƚƐ͗ /ŶƚĂŶŐŝďůĞĂƐƐĞƚƐĂƌĞƌĞĐŽƌĚĞĚĂƚĐŽƐƚĂŶĚĂƌĞĂŵŽƌƚŝǌĞĚŽŶĂƐ ϭ͕ϮϬϭϭĂƌĞƌĞĐŽƌĚĞĚĂƚĚĞĞŵĞĚ /ŶĚƐƉŝƌĞ/ŶƐƚŝƚƵƚĞ ƵŶĚĞƌ ŝŐŶŝĨŝĐĂŶƚĂĐĐŽƵŶƚŝŶŐƉŽůŝĐŝĞƐ;ĐŽŶƚŝŶƵĞĚͿ͗ ;ĞͿ ;ĨͿ ;ŐͿ ^ ϭ͘ EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ;ĐŽŶƚŝŶƵĞ zĞĂƌƐĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯĂŶĚϮϬϭϮ /E^W/Z /E^W/Z EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ;ĐŽŶƚŝŶƵĞĚͿ zĞĂƌƐĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯĂŶĚϮϬϭϮ

ϭ͘^ŝŐŶŝĨŝĐĂŶƚĂĐĐŽƵŶƚŝŶŐƉŽůŝĐŝĞƐ;ĐŽŶƚŝŶƵĞĚͿ͗ ;ŚͿ &ŝŶĂŶĐŝĂůŝŶƐƚƌƵŵĞŶƚƐ͗ &ŝŶĂŶĐŝĂůŝŶƐƚƌƵŵĞŶƚƐĂƌĞ ƌĞĐŽƌĚĞĚ ĂƚĨĂŝƌ ǀĂůƵĞ ŽŶŝŶŝƚŝĂůƌĞĐŽŐŶŝƚŝŽŶ͘ &ƌĞĞƐƚĂŶĚŝŶŐĚĞƌŝǀĂƚŝǀĞŝŶƐƚƌƵŵĞŶƚƐƚŚĂƚ ĂƌĞ ŶŽƚ ŝŶĂ ƋƵĂůŝĨǇŝŶŐ ŚĞĚŐŝŶŐ ƌĞůĂƚŝŽŶƐŚŝƉĂŶĚĞƋƵŝƚǇŝŶƐƚƌƵŵĞŶƚƐƚŚĂƚĂƌĞƋƵŽƚĞĚŝŶĂŶĂĐƚŝǀĞŵĂƌŬĞƚĂƌĞƐƵďƐĞƋƵĞŶƚůǇŵĞĂƐƵƌĞĚĂƚĨĂŝƌǀĂůƵĞ͘ůůŽƚŚĞƌĨŝŶĂŶĐŝĂůŝŶƐƚƌƵŵĞŶƚƐĂƌĞ ƐƵďƐĞƋƵĞŶƚůǇƌĞĐŽƌĚĞĚĂƚĐŽƐƚŽƌĂŵŽƌƚŝǌĞĚĐŽƐƚ͕ƵŶůĞƐƐŵĂŶĂŐĞŵĞŶƚŚĂƐĞůĞĐƚĞĚƚŽĐĂƌƌǇƚŚĞŝŶƐƚƌƵŵĞŶƚƐĂƚĨĂŝƌǀĂůƵĞ͘/ŶĚƐƉŝƌĞŚĂƐŶŽƚĞůĞĐƚĞĚƚŽ ĐĂƌƌǇĂŶǇƐƵĐŚĨŝŶĂŶĐŝĂůŝŶƐƚƌƵŵĞŶƚƐĂƚĨĂŝƌǀĂůƵĞ͘ dƌĂŶƐĂĐƚŝŽŶ ĐŽƐƚƐ ŝŶĐƵƌƌĞĚŽŶ ƚŚĞ ĂĐƋƵŝƐŝƚŝŽŶŽĨ ĨŝŶĂŶĐŝĂů ŝŶƐƚƌƵŵĞŶƚƐ ŵĞĂƐƵƌĞĚƐƵďƐĞƋƵĞŶƚůǇĂƚ ĨĂŝƌǀĂůƵĞĂƌĞĞǆƉĞŶƐĞĚ ĂƐŝŶĐƵƌƌĞĚ͘ ůů ŽƚŚĞƌ ĨŝŶĂŶĐŝĂů ŝŶƐƚƌƵŵĞŶƚƐ ĂƌĞ ĂĚũƵƐƚĞĚďǇ ƚƌĂŶƐĂĐƚŝŽŶ ĐŽƐƚƐ ŝŶĐƵƌƌĞĚ ŽŶĂĐƋƵŝƐŝƚŝŽŶĂŶĚĨŝŶĂŶĐŝŶŐĐŽƐƚƐ͕ ǁŚŝĐŚ ĂƌĞ ĂŵŽƌƚŝǌĞĚ ƵƐŝŶŐƚŚĞƐƚƌĂŝŐŚƚͲůŝŶĞ ŵĞƚŚŽĚ͘ &ŝŶĂŶĐŝĂůĂƐƐĞƚƐĂƌĞĂƐƐĞƐƐĞĚĨŽƌŝŵƉĂŝƌŵĞŶƚŽŶĂŶĂŶŶƵĂůďĂƐŝƐĂƚƚŚĞĞŶĚŽĨƚŚĞĨŝƐĐĂůǇĞĂƌŝĨƚŚĞƌĞĂƌĞŝŶĚŝĐĂƚŽƌƐŽĨŝŵƉĂŝƌŵĞŶƚ͘/ĨƚŚĞƌĞŝƐĂŶ ŝŶĚŝĐĂƚŽƌŽĨŝŵƉĂŝƌŵĞŶƚ͕/ŶĚƐƉŝƌĞĚĞƚĞƌŵŝŶĞƐŝĨƚŚĞƌĞŝƐĂƐŝŐŶŝĨŝĐĂŶƚĂĚǀĞƌƐĞĐŚĂŶŐĞŝŶƚŚĞĞǆƉĞĐƚĞĚĂŵŽƵŶƚŽƌƚŝŵŝŶŐŽĨĨƵƚƵƌĞĐĂƐŚĨůŽǁƐĨƌŽŵƚŚĞ ĨŝŶĂŶĐŝĂůĂƐƐĞƚ͘/ĨƚŚĞƌĞŝƐĂƐŝŐŶŝĨŝĐĂŶƚĂĚǀĞƌƐĞĐŚĂŶŐĞŝŶƚŚĞĞǆƉĞĐƚĞĚĐĂƐŚĨůŽǁƐ͕ƚŚĞĐĂƌƌǇŝŶŐǀĂůƵĞŽĨƚŚĞĨŝŶĂŶĐŝĂůĂƐƐĞƚŝƐƌĞĚƵĐĞĚƚŽƚŚĞŚŝŐŚĞƐƚ ŽĨƚŚĞƉƌĞƐĞŶƚǀĂůƵĞŽĨƚŚĞĞǆƉĞĐƚĞĚĐĂƐŚĨůŽǁƐ͕ƚŚĞĂŵŽƵŶƚƚŚĂƚĐŽƵůĚďĞƌĞĂůŝǌĞĚĨƌŽŵƐĞůůŝŶŐƚŚĞĨŝŶĂŶĐŝĂůĂƐƐĞƚŽƌƚŚĞĂŵŽƵŶƚƚŚĞ/ŶĚƐƉŝƌĞ ĞǆƉĞĐƚƐƚŽƌĞĂůŝǌĞďǇĞǆĞƌĐŝƐŝŶŐŝƚƐƌŝŐŚƚƚŽĂŶǇĐŽůůĂƚĞƌĂů͘/ĨĞǀĞŶƚƐĂŶĚĐŝƌĐƵŵƐƚĂŶĐĞƐƌĞǀĞƌƐĞŝŶĂĨƵƚƵƌĞƉĞƌŝŽĚ͕ĂŶŝŵƉĂŝƌŵĞŶƚůŽƐƐǁŝůůďĞƌĞǀĞƌƐĞĚ ƚŽƚŚĞĞǆƚĞŶƚŽĨƚŚĞŝŵƉƌŽǀĞŵĞŶƚ͕ŶŽƚĞǆĐĞĞĚŝŶŐƚŚĞŝŶŝƚŝĂůĐĂƌƌǇŝŶŐǀĂůƵĞ͘ ;ŝͿ ůůŽĐĂƚŝŽŶŽĨĞǆƉĞŶƐĞƐ͗ /ŶĚƐƉŝƌĞƌĞĐŽƌĚƐĂŶƵŵďĞƌŽĨŝƚƐĞǆƉĞŶƐĞƐďǇƉƌŽŐƌĂŵ͘dŚĞĐŽƐƚƐŽĨĞĂĐŚƉƌŽŐƌĂŵŝŶĐůƵĚĞƚŚĞĐŽƐƚƐŽĨƉĞƌƐŽŶŶĞů͕ƉƌĞŵŝƐĞƐĂŶĚŽƚŚĞƌĞǆƉĞŶƐĞƐƚŚĂƚ ĂƌĞĚŝƌĞĐƚůǇƌĞůĂƚĞĚƚŽƉƌŽǀŝĚŝŶŐƚŚĞƉƌŽŐƌĂŵ͘ /ŶĚƐƉŝƌĞĂůůŽĐĂƚĞƐĐĞƌƚĂŝŶŽĨŝƚƐŐĞŶĞƌĂůƐƵƉƉŽƌƚĞǆƉĞŶƐĞƐďǇŝĚĞŶƚŝĨǇŝŶŐƚŚĞĂƉƉƌŽƉƌŝĂƚĞďĂƐŝƐŽĨĂůůŽĐĂƚŝŶŐĞĂĐŚĞǆƉĞŶƐĞ͘ZĞĨĞƌƚŽƌĞǀĞŶƵĞĂŶĚ ĞǆƉĞŶƐĞƐĐŚĞĚƵůĞƐďǇƉƌŽŐƌĂŵĨŽƌĚĞƚĂŝů͘

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18 | Indspire Appendix: Financial Statement Ĩ Ž ŝƐ ϭϵ Ž ƚŚĞ ůŝŵŝƚ ƚ Ă ĂĐŝůŝƚǇ ƐĞĐƵƌŝƚǇ͘ ϮϱϬ͕ϬϬϬ ϰϭϲ͕ϲϵϯ ϭϳϱ͕ϬϬϬ Ĩ ͕ϴϱϯ͕Ϯϰϴ ͕Ϭϭϭ͕ϱϱϱ ͕ϴϱϯ͕Ϯϰϴ ǆŝƐƚĞŶĐĞ ƚ ƌĞĚƵĐĞĚ ƉĞƌ Ğ Ɖƌŝůϭ͕ϮϬϭϭ ϭ ŝŶƚĞƌĞƐƚ ĐƌĞĚŝƚ ŚĞ ƵůĂ ǁĞƌĞ ĐĐŽƵŶƚ͘ ƚ ŵ Ă ŽĨ ƚŚĞ ƚ Žƌ ϭ ϭ Ψ Ͳ Ͳ Ͳ Ͳ Ψ Annual Report 2012-2013 | 19 Annual Report Ͳ Ĩ ĂŶĐĞƐ ďĞĂƌŝŶŐ ŝŶƐƚ Ăů ŐĂ ď Ă ŵĂƌŐŝŶ ϮϬϬ͕ϬϬϬ ϮϱϬ͕ϬϬϬ ϯϭϴ͕ϳϯϵ ϮϭϮ͕ϭϬϬ ŶǀĞƐƚŵĞŶ ͕ϭϰϴ͕ϲϰϳ ͕ϭϲϳ͕ϴϬϴ ͕ϭϰϴ͕ϲϰϳ ĐĂƐŚ ŝ ŶŶƵĂůůǇ͕ ƌĂǁŶ ƚŚĞ ĐŽŶƐĞƋƵĞŶĐĞ Ă Ϯ Ě Ă ϯϬ Ɛ DĂƌĐŚϯϭ͕ϮϬϭϮ ĂŶĚ Ă ŽƉĞƌĂƚŝŶŐ Ϯ Ψ ϭ Ͳ Ψ Ͳ ŵŽƵŶƚ /ŶĚƐƉŝƌĞ͛Ɛ Ɖƌŝů Ͳ Ͳ Ͳ Ͳ Ă Ž ĂŝŶ ƚ ͕ϮϮϴ ŚĞ EŝůͿ͘ ƚ ŵ Ψ Ψϭϯϵ͕ϲϯϵͿ Ϯϵϱ͕ϭϯϮ ϱϮϱ͕ϬϬϬ Ͳ ŚĞ ŝŶǀĞƐƚŵĞŶƚƐ Ͳ Ϯ͕ϮϮϵ͕ϴϲϯ Ϯ͕ϮϮϯ͕ϲϯϱ ϭ͕ϰϬϵ͕ϳϯϭ ƚ ϮϬϭϯ͕ ƚŚĞ ϮϬϭϭ Ψ :ĂŶƵĂƌǇϭ ϮϬϭϭ Ĩ ϯϭ͕ DĂƌĐŚϯϭ͕ϮϬϭϯ ͕ Ž ŐĂŝŶƐƚ ĂŶĚ ϭ Ă ĞƌŝŽĚ ĂůƵĞ Eŝů Ɖƌŝů Ɖ DĂƌĐŚ ǀ Ψ ůŽĂŶ ƚ Ͳ ŚĞ Ă ƚ Ɛ Žƌ ϮϬϭϮ ĂƌŐŝŶ ŵĂƌŬĞƚ Ĩ ; ŵ Ψϱϰϭ͕ϳϳϲ͕ ƚŚĞ ΨEŝů Ͳ ĂƐƐĞƚƐ͘ Ŷ ŝĂĂ Ɛ ŝ Ž ǀ Ăůů Ĩ ϮϬϭϮ Ψϭ͕ϬϬϬ͕ϬϬϬ ůŽĂŶ Ž ĚŝŶŐ ƌĞĚŝƚ ϭ͕ Ŷ ƚŽ ϯ Đ Ž ŵĞŶƚ ŶŐ ƚ ĚĞƉĞ ŵĂƌŐŝŶ DĂƌĐŚ ; ĂƐƐŝŐŶ ƚŚĞ ĂĐĐĞƐƐ ŶĐƌĞĂƐŝ ŝ ǀĂŝůĂďůĞ Ă ŚĂƐ ĞŶĞƌĂů ĂŐĂŝŶƐƚ Ő ΨϯϲϮ͕Ϭϯϭ ůƐŽ Ĩ Ă ƌŽŽŵ Ă Ž ΨϳϱϬ͕ϬϬϬ͕ ĚŽǁŶ ŽĨ Ϭϭϯ ĂƌŐŝŶ Ϯ ϲ ŵ ƉƌŽǀŝĚĞĚ /ŶĚƐƉŝƌĞ ƌĂǁŶ Ϳ ƌĞĚŝƚ Ě ϯϭ͕ ŚĞ Ě ƚ ŚĂƐ ŽĨĐ ƚŽ ΨEŝůͿ͘ Ɖ Ͳ ŵŽƵŶƚ DĂƌĐŚ Ƶ ůŝŶĞ ƚ Ă ŶĚƐƉŝƌĞ ŚĞ / ůĂĐĞ ϮϬϭϭ Ψ ĂƐĂ ƚ Ɖ ŝŶ ĂŶĚ Ɛ ϮϬϭϯ͕ ŽƉĞƌĂƚŝŶŐ ŝ ĞĐƵƌŝƚǇ͕ Eŝů Ŷ Ɛ ƉŽƐŝƚŝŽŶ ϯϭ͕ Ψ Ă Ɛ Ͳ ĂƐ Ś ƌĂƚĞ͘ DĂƌĐŚ ϮϬϭϮ ǀĞƌĚƌĂĨƚ ƚ ; ĐĐŽƵŶƚƐƌĞĐĞŝǀĂďůĞ͗ Ž Ă ĂŶŬŝŶĚĞďƚĞĚŶĞƐƐ͗ >ĞƐƐĂůůŽǁĂŶĐĞĨŽƌĚŽƵďƚĨƵůĂĐĐŽƵŶƚƐ ďŽƌŝŐŝŶĂůĨĨĂŝƌƐĂŶĚEŽƌƚŚĞƌŶ KƚŚĞƌ ƐƚĂƚĞŽĨ>ŝŶĚĂ'ĂŶůǇ ĞǀĞůŽƉŵĞŶƚĂŶĂĚĂ ^ŚĞůůĂŶĂĚĂ ^ŚĂǁDĞĚŝĂ ďŽƌŝŐŝŶĂůWĞŽƉůĞƐdĞůĞǀŝƐŝŽŶEĞƚǁŽƌŬ ĂŶĂĚŝĂŶ,ĞƌŝƚĂŐĞ ΨEŝů ĂĐĐŽŵŵŽĚĂƚŝŽŶ ĂŶ Ɛ ƉƌŝŵĞ /ŶĚƐƉŝƌĞ ŝƐƐƵĞĚĂŶĚŽƵƚƐƚĂŶĚŝŶŐĐŚĞƋƵĞƐĂƐĂƚƚŚĂƚĚĂƚĞ͘ Ϯ͘ EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ;ĐŽŶƚŝŶƵĞ zĞĂƌƐĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯĂŶĚϮϬϭϮ /E^W/Z ϯ͘ /E^W/Z EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ;ĐŽŶƚŝŶƵĞĚͿ zĞĂƌƐĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯĂŶĚϮϬϭϮ

ϰ͘ĐĐŽƵŶƚƐƉĂǇĂďůĞĂŶĚĂĐĐƌƵĞĚůŝĂďŝůŝƚŝĞƐ͗

/ŶĐůƵĚĞĚŝŶ ĂĐĐŽƵŶƚƐƉĂǇĂďůĞ ĂŶĚ ĂĐĐƌƵĞĚ ůŝĂďŝůŝƚŝĞƐ ĂƌĞ ŐŽǀĞƌŶŵĞŶƚƌĞŵŝƚƚĂŶĐĞƐƉĂǇĂďůĞŽĨ Ψϭϯ͕ϯϭϵ;DĂƌĐŚ ϯϭ͕ϮϬϭϮͲ ΨϮϰ͕ϲϭϰ͕ Ɖƌŝů ϭ͕ ϮϬϭϭͲ Ψϭϱ͕ϭϳϱͿ͕ǁŚŝĐŚŝŶĐůƵĚĞƐĂŵŽƵŶƚƐƉĂǇĂďůĞĨŽƌ,^dĂŶĚƉĂǇƌŽůůƌĞůĂƚĞĚƚĂǆĞƐ͘ ϱ͘ /ŶǀĞƐƚŵĞŶƚƐ͗ DĂƌĐŚϯϭ͕ DĂƌĐŚϯϭ͕Ɖƌŝůϭ͕ ϮϬϭϯ ϮϬϭϮ ϮϬϭϭ ŽƐƚ DĂƌŬĞƚŽƐƚ DĂƌŬĞƚŽƐƚ DĂƌŬĞƚ ĂƐŚŚĞůĚǁŝƚŚŝŶǀĞƐƚŵĞŶƚŵĂŶĂŐĞƌ Ψ ϵϳϴ͕ϲϲϳΨ ϵϳϴ͕ϲϲϳΨ ϵϲϱ͕ϯϴϰΨ ϵϲϱ͕ϯϴϰΨ ϴϰϮ͕ϵϮϬΨ ϴϰϮ͕ϵϮϬ &ŝǆĞĚŝŶĐŽŵĞ ϭ͕ϰϬϬ͕ϬϬϬϭ͕ϰϬϬ͕ϬϬϬϭ͕ϱϬϬ͕ϬϬϬϭ͕ϱϬϬ͕ϬϬϬϭ͕ϱϬϬ͕ϬϬϬϭ͕ϱϬϬ͕ϬϬϬ ǆĐŚĂŶŐĞƚƌĂĚĞĚĨƵŶĚƐ Ϯϯ͕ϴϱϲ͕Ϭϵϵ Ϯϱ͕ϵϴϮ͕ϵϴϱ Ϯϯ͕ϱϬϱ͕ϵϴϮ Ϯϰ͕ϵϮϳ͕ϯϵϲ Ϯϰ͕ϴϲϰ͕ϰϯϯ Ϯϲ͕ϳϭϭ͕ϴϬϱ ΨϮϲ͕Ϯϯϰ͕ϳϲϲΨϮϴ͕ϯϲϭ͕ϲϱϮΨϮϱ͕ϵϳϭ͕ϯϲϲΨϮϳ͕ϯϵϮ͕ϳϴϬΨϮϳ͕ϮϬϳ͕ϯϱϯΨϮϵ͕Ϭϱϰ͕ϳϮϱ ƐŽĨDĂƌĐŚϯϭ͕ϮϬϭϯ͕ƚŚĞĨŝǆĞĚŝŶĐŽŵĞƐĞĐƵƌŝƚŝĞƐďĞĂƌŝŶƚĞƌĞƐƚĂƚǀĂƌŝŽƵƐƌĂƚĞƐƌĂŶŐŝŶŐĨƌŽŵϯ͘ϮϬйƚŽϰ͘ϰϱйŵĂƚƵƌŝŶŐĞĐĞŵďĞƌϭϴ͕ϮϬϭϯ͘ ϲ͘ĂƉŝƚĂůĂƐƐĞƚƐ͗ ĐĐƵŵƵůĂƚĞĚ EĞƚďŽŽŬ DĂƌĐŚϯϭ͕ϮϬϭϯ ŽƐƚĂŵŽƌƚŝǌĂƚŝŽŶǀĂůƵĞ ŽŵƉƵƚĞƌƐĂŶĚĞƋƵŝƉŵĞŶƚ Ψ ϱϬϵ͕ϵϮϭΨ ϯϮϴ͕ϭϬϲΨ ϭϴϭ͕ϴϭϱ >ĞĂƐĞŚŽůĚŝŵƉƌŽǀĞŵĞŶƚƐ ϭϮϴ͕ϲϰϴ ϲϳ͕ϱϯϵ ϲϭ͕ϭϬϵ Ψ ϲϯϴ͕ϱϲϵΨ ϯϵϱ͕ϲϰϱΨ ϮϰϮ͕ϵϮϰ

ϮϬ

20 | Indspire Appendix: Financial Statement Ϯϭ ĂůƵĞ ĂůƵĞ ĂůƵĞ ϴϲ͕ϴϯϴ ϵϭ͕ϲϰϮ ϭϳϴ͕ϳϲϬ ϭϳϴ͕ϳϲϬ ϭϱϰ͕ϱϰϴ ϭϬϱ͕Ϭϴϭ ϭϵϭ͕ϵϭϵ Ϯϰϲ͕ϭϵϬ EĞƚďŽŽŬ EĞƚďŽŽŬ EĞƚďŽŽŬ Ψ Ψ ǀ ǀ ǀ Ψ Ψ Ψ Ψ Annual Report 2012-2013 | 21 Annual Report ϰϭ͕ϴϭϬ ϳϳ͕Ϯϳϱ Ϯϲϳ͕ϴϯϴ ϭϳϭ͕ϲϳϳ ϮϮϲ͕ϬϮϴ ϭϴϯ͕ϭϵϵ ϭϳϭ͕ϲϳϳ ϭϬϱ͕ϵϮϰ ŵŽƌƚŝǌĂƚŝŽŶ ŵŽƌƚŝǌĂƚŝŽŶ ŵŽƌƚŝǌĂƚŝŽŶ ĐĐƵŵƵůĂƚĞĚ ĐĐƵŵƵůĂƚĞĚ ĐĐƵŵƵůĂƚĞĚ Ă Ă Ψ Ψ Ψ Ψ Ψ Ă Ψ ŽƐƚ ŽƐƚ ŽƐƚ ϯϱϬ͕ϰϯϳ ϭϵϳ͕ϱϲϲ ϯϯϭ͕ϭϬϵ ϰϱϵ͕ϳϱϳ ϭϮϴ͕ϲϰϴ ϯϱϬ͕ϰϯϳ Ϯϯϭ͕ϴϮϯ ϰϮϵ͕ϯϴϵ Ψ Ψ Ψ Ψ Ψ Ψ Ϳ Ě ĂŶĚůĞĂƐĞŚŽůĚƐ ĂƉŝƚĂůĂƐƐĞƚƐ;ĐŽŶƚŝŶƵĞĚͿ͗ DĂƌĐŚϯϭ͕ϮϬϭϯ ZĞďƌĂŶĚĐŽƐƚƐ Ɖƌŝůϭ͕ϮϬϭϭ KĨĨŝĐĞĨƵƌŶŝƚƵƌĞ͕ĞƋƵŝƉŵĞŶƚ DĂƌĐŚϯϭ͕ϮϬϭϮ ŽŵƉƵƚĞƌƐĂŶĚĞƋƵŝƉŵĞŶƚ /ŶƚĂŶŐŝďůĞĂƐƐĞƚƐ͗ /ŶĚƐƉŝƌĞ/ŶƐƚŝƚƵƚŝŽŶ >ĞĂƐĞŚŽůĚŝŵƉƌŽǀĞŵĞŶƚƐ ϲ͘ ϳ͘ EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ;ĐŽŶƚŝŶƵĞ zĞĂƌƐĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯĂŶĚϮϬϭϮ /E^W/Z /E^W/Z EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ;ĐŽŶƚŝŶƵĞĚͿ zĞĂƌƐĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯĂŶĚϮϬϭϮ

ϳ͘ /ŶƚĂŶŐŝďůĞĂƐƐĞƚƐ;ĐŽŶƚŝŶƵĞĚͿ͗ ĐĐƵŵƵůĂƚĞĚ EĞƚďŽŽŬ DĂƌĐŚϯϭ͕ϮϬϭϮ ŽƐƚĂŵŽƌƚŝǌĂƚŝŽŶǀĂůƵĞ ZĞďƌĂŶĚĐŽƐƚƐ Ψ ϭϵϳ͕ϱϲϲΨ ϲϬ͕ϭϬϯ Ψ ϭϯϳ͕ϰϲϯ Ψ ϭϵϳ͕ϱϲϲΨ ϲϬ͕ϭϬϯΨ ϭϯϳ͕ϰϲϯ ĐĐƵŵƵůĂƚĞĚ EĞƚďŽŽŬ Ɖƌŝůϭ͕ϮϬϭϭ ŽƐƚĂŵŽƌƚŝǌĂƚŝŽŶǀĂůƵĞ ZĞďƌĂŶĚĐŽƐƚƐ Ψ ϳϭ͕ϰϬϱΨ ϭϰ͕Ϯϴϭ Ψ ϱϳ͕ϭϮϰ Ψ ϳϭ͕ϰϬϱΨ ϭϰ͕ϮϴϭΨ ϱϳ͕ϭϮϰ

ϮϮ

22 | Indspire Appendix: Financial Statement Ϯϯ ĂĚĞ ͕ϴϭϱ ƌĞĂůƚǇ ϮϬϭϭ ŵ ϵϰ͕ϰϲϬ ϱϲ͕ϲϯϮ ϭϰϬ͕ϱϱϳ ϰϰϲ͕ϬϮϬ ϰϵϲ͕ϳϴϱ ϴϰϯ͕ϴϴϭ ϭϰϰ͕ϱϱϲ ϴϱϬ͕ϯϴϭ ϰϵϬ͕ϮϴϱͿ ĂŶĚ ďĞĞŶ Ψϭ͕ϳϵϱ͕ϲϭϱͿ͘ Ğ Ͳ ; Ψ Ψ Ψ Ψ ϵ ŚĂǀ ϭͿ ƚĞŶĂŶĐĞ Ŷ ;ϮϬϭϮ Annual Report 2012-2013 | 23 Annual Report Ăŝ ϮϬϭϮ ůĨƵŶĚŝŶŐĐĂŵƉĂŝŐŶ͘ ƐƉĞĐŝĨŝĐƉƌŽŐƌĂŵƐ͘ ϴϱϬ͕ϯϴϭ ϱϴϯ͕ϵϳϭ ϳϬϬ͕ϳϴϭ ϳϯϯ͕ϱϳ ŽĨŵ ǆƉĞŶĚŝƚƵƌĞƐ ΨϵϴϮ͕ϵϰϲ Ĩ Ğ ; Ψ Ψ Ž ĞǆĐůƵƐŝǀĞ ŚĞƐĞ ϮϬϭϯ d ϳϬϬ͕ϳϴϭ ĂŵŽƵŶƚ ;ϲϯϲ͕ϬϯϭͿ ϭ͕ϰϬϮ͕ϱϳϲ ϭ͕ϰϲϳ͕ϯϮϲ Ψ Ψ ƚŚĞ ƉĂǇŵĞŶƚƐ͕ Ŷ ŝ ůĞĂƐĞ Ψϲ͕Ϯϴϴ͕ϳϯϱͿ͘ ĨƵŶĚƐ Ͳ ϮϬϭϮ ; ŵŝŶŝŵƵŵ ƌĞƐƚƌŝĐƚĞĚ ŚĞ ƵƚƵƌĞ & ŶĚƚ Ψϱ͕ϭϴϮ͕ϱϰϲ Ă Ž ƚ ůĞĂƐĞƐ͘ ĂƐĞĚ Ψϰ͕ϰϵϯ͕ϭϮϬͿ ĞĐƌĞ ϬϯϱƚŚĂƚǁĂƐƚƌĂŶƐĨĞƌƌĞĚƚŽƚŚĞŽƉĞƌĂƚŝŶŐĨƵŶĚĨŽƌƚŚĞŶĂƚŝŽŶĂ Ͳ ƉƌĞƐĞŶƚƵŶƐƉĞŶƚĞǆƚĞƌŶĂůůǇƌĞƐƚƌŝĐƚĞĚŐƌĂŶƚƐĂŶĚĚŽŶĂƚŝŽŶƐĨŽƌ Ě Ğ ŽƉĞƌĂƚŝŶŐ ϮϬϭϮ ϮϬϭϯ ; ƵŶĚĞƌ ϯϭ͕ DĂƌĐŚ Ψϰ͕ϭϵϵ͕ϲϬϬ Ĩ ƋƵŝƉŵĞŶƚ Ž Ğ ŶĚĞĚ Ğ ƚŚĞƌ Ϳ Ž Ě ĂŵŽƵŶƚ ǇĞĂƌ ŶĚ Ă ƚŚĞ ƚŚĞ Ŷ ŝ ƉĂĐĞ ĨŽƌ Ɛ ƵŶĚ Ĩ ŽĨĨŝĐĞ ĐŚŽůĂƌƐŚŝƉƐ ĞĂƐĞĚ ŽƉĞƌĂƚŝŶŐ ů ĂƐ ŶĚƐ ƚŚĞ ǁĂƌĚƐĂŶĚƐĐŚŽůĂƌƐŚŝƉƐ͗ ŽŵŵŝƚŵĞŶƚƐ͗ ƚŚƌŽƵŐŚ ϮϬϭϱ ĂůĂŶĐĞ͕ďĞŐŝŶŶŝŶŐŽĨǇĞĂƌ ĚĚĂŵŽƵŶƚƌĞĐĞŝǀĞĚƌĞůĂƚĞĚƚŽĨƵƚƵƌĞƉĞƌŝŽĚƐ ĞĨĞƌƌĞĚĐŽŶƚƌŝďƵƚŝŽŶƐƌĞůĂƚĞĚƚŽĞǆƉĞŶƐĞƐŽĨĨƵƚƵƌĞƉĞƌŝŽĚƐƌ ĞĨĞƌƌĞĚĐŽŶƚƌŝďƵƚŝŽŶƐ͗ ǁĂƌĚƐĂ /ŶĚƐƉŝƌĞŚ ƚĂǆĞƐƵŶĚĞƌƚŚĞůĞĂƐĞƐ͕ĂƌĞĂƐĨŽůůŽǁƐ͗ ϮϬϭϰ ϮϬϭϲ >ĞƐƐĂŵŽƵŶƚƌĞĐŽŐŶŝǌĞĚĂƐƌĞǀĞŶƵĞŝŶƚŚĞǇĞĂƌ ϮϬϭϳ /ŶĐůƵĚĞĚŝŶƚŚĞZŽďĞƌƚĂ:ĂŵŝĞƐŽŶƌĞƐƚƌŝĐƚĞĚĨƵŶĚĂŵŽƵŶƚŝƐΨϱϬ͕ ϮϬϭϴ ϴ͘ ϭϬ͘ ϵ͘ EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ;ĐŽŶƚŝŶƵĞ zĞĂƌƐĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯĂŶĚϮϬϭϮ /E^W/Z /E^W/Z EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ;ĐŽŶƚŝŶƵĞĚͿ zĞĂƌƐĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯĂŶĚϮϬϭϮ

ϭϭ͘WĞŶƐŝŽŶĂŐƌĞĞŵĞŶƚ͗ /ŶĚƐƉŝƌĞƉĂƌƚŝĐŝƉĂƚĞƐ ŝŶĂĚĞĨŝŶĞĚĐŽŶƚƌŝďƵƚŝŽŶ ƉĞŶƐŝŽŶ ƉůĂŶǁŝƚŚĞůŝŐŝďůĞ ĞŵƉůŽǇĞĞƐ͘/ŶĚƐƉŝƌĞŵĂƚĐŚĞƐ ĐŽŶƚƌŝďƵƚŝŽŶƐ ƵƉƚŽ Ă ŵĂǆŝŵƵŵŽĨ ϵйŽĨ ŝŶĚŝǀŝĚƵĂůĞŵƉůŽǇĞĞŐƌŽƐƐĞĂƌŶŝŶŐƐ͘ĨŝŶĂŶĐŝĂůŝŶƐƚŝƚƵƚŝŽŶĂĚŵŝŶŝƐƚĞƌƐƚŚĞƉĞŶƐŝŽŶĂƐƐĞƚƐ͘ƵƌŝŶŐƚŚĞǇĞĂƌ͕/ŶĚƐƉŝƌĞŝŶĐƵƌƌĞĚƉĞŶƐŝŽŶĞǆƉĞŶƐĞƐƚŽƚĂůŝŶŐ Ψϳϱ͕ϬϮϮ;ϮϬϭϮͲΨϲϯ͕ϭϱϵͿ͘ ϭϮ͘&ŝŶĂŶĐŝĂůƌŝƐŬƐĂŶĚĐŽŶĐĞŶƚƌĂƚŝŽŶŽĨĐƌĞĚŝƚƌŝƐŬ͗ ;ĂͿ>ŝƋƵŝĚŝƚǇƌŝƐŬ͗ >ŝƋƵŝĚŝƚǇƌŝƐŬŝƐƚŚĞƌŝƐŬƚŚĂƚ/ŶĚƉƐŝƌĞ ǁŝůůďĞ ƵŶĂďůĞ ƚŽĨƵůĨŝůůŝƚƐ ŽďůŝŐĂƚŝŽŶƐŽŶ Ă ƚŝŵĞůǇďĂƐŝƐŽƌ ĂƚĂ ƌĞĂƐŽŶĂďůĞ ĐŽƐƚ͘ /ŶĚƐƉŝƌĞŵĂŶĂŐĞƐŝƚƐ ůŝƋƵŝĚŝƚǇƌŝƐŬďǇŵŽŶŝƚŽƌŝŶŐŝƚƐŽƉĞƌĂƚŝŶŐƌĞƋƵŝƌĞŵĞŶƚƐ͘/ŶĚƐƉŝƌĞƉƌĞƉĂƌĞƐďƵĚŐĞƚĂŶĚĐĂƐŚĨŽƌĞĐĂƐƚƐƚŽĞŶƐƵƌĞŝƚŚĂƐƐƵĨĨŝĐŝĞŶƚĨƵŶĚƐƚŽĨƵůĨŝůůŝƚƐ ŽďůŝŐĂƚŝŽŶƐ͘dŚĞƌĞŚĂƐďĞĞŶŶŽĐŚĂŶŐĞƚŽƚŚĞƌŝƐŬĞǆƉŽƐƵƌĞƐĨƌŽŵϮϬϭϮ͘ ;ďͿ DĂƌŬĞƚƌŝƐŬ͗ DĂƌŬĞƚƌŝƐŬŝƐƚŚĞƉŽƚĞŶƚŝĂůĨŽƌůŽƐƐĨƌŽŵĐŚĂŶŐĞƐŝŶƚŚĞǀĂůƵĞŽĨĨŝŶĂŶĐŝĂůŝŶƐƚƌƵŵĞŶƚƐ͘dŚĞǀĂůƵĞŽĨĂĨŝŶĂŶĐŝĂůŝŶƐƚƌƵŵĞŶƚĐĂŶďĞĂĨĨĞĐƚĞĚďǇ ĐŚĂŶŐĞƐŝŶŝŶƚĞƌĞƐƚƌĂƚĞƐ͕ĨŽƌĞŝŐŶĞǆĐŚĂŶŐĞƌĂƚĞƐ͕ĞƋƵŝƚǇĂŶĚĐŽŵŵŽĚŝƚǇƉƌŝĐĞƐĂŶĚĐƌĞĚŝƚƐƉƌĞĂĚƐ͘/ŶĚƐƉŝƌĞŝƐĞǆƉŽƐĞĚƚŽŵĂƌŬĞƚƌŝƐŬŝŶƚŚĞ ŝŶǀĞƐƚŵĞŶƚƐĂƐǁĞůůĂƐƚŚƌŽƵŐŚŶŽŶͲƚƌĂĚŝŶŐĂĐƚŝǀŝƚŝĞƐ͘DĂƌŬĞƚƌŝƐŬŝŶŝŶǀĞƐƚŵĞŶƚĂĐƚŝǀŝƚŝĞƐŝƐŵĂŶĂŐĞĚďǇƚŚĞŵĂŶĂŐĞŵĞŶƚŽĨ/ŶĚƐƉŝƌĞ͘ǀĞƌǇ ŝŶǀĞƐƚŵĞŶƚƚƌĂŶƐĂĐƚŝŽŶŝƐŐƵŝĚĞĚďǇƉŽůŝĐǇĂŶĚƌĞŐƵůĂƚŽƌǇůŝŵŝƚĂƚŝŽŶƐ͘dŚĞƌĞŚĂƐďĞĞŶŶŽĐŚĂŶŐĞƚŽƚŚĞƌŝƐŬĞǆƉŽƐƵƌĞƐĨƌŽŵϮϬϭϮ͘

;ĐͿ/ŶƚĞƌĞƐƚƌĂƚĞƌŝƐŬ͗ /ŶĚƐƉŝƌĞŝƐĞǆƉŽƐĞĚƚŽŝŶƚĞƌĞƐƚƌĂƚĞƌŝƐŬŽŶŝƚƐĨŝǆĞĚŝŶƚĞƌĞƐƚƌĂƚĞĨŝŶĂŶĐŝĂůŝŶƐƚƌƵŵĞŶƚƐ͘ &ƵƌƚŚĞƌĚĞƚĂŝůƐĂďŽƵƚƚŚĞĨŝǆĞĚƌĂƚĞŝŶǀĞƐƚŵĞŶƚƐĂƌĞ ŝŶĐůƵĚĞĚŝŶŶŽƚĞϱ͘dŚĞƌĞŚĂƐďĞĞŶŶŽĐŚĂŶŐĞƚŽƚŚĞƌŝƐŬĞǆƉŽƐƵƌĞƐĨƌŽŵϮϬϭϮ͘

Ϯϰ

24 | Indspire Appendix: Financial Statement /E^W/Z zĞĂƌƐĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯĂŶĚϮϬϭϮ ^ƵƉƉůĞŵĞŶƚĂƌǇ/ŶĨŽƌŵĂƚŝŽŶƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐŽĨ /E^W/Z ^ƵƉƉůĞŵĞŶƚĂƌǇ/ŶĨŽƌŵĂƚŝŽŶƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ zĞĂƌƐĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯĂŶĚϮϬϭϮ

Appendix: Financial Statement ϭ Ŷ ŝŶ ŝ ƚŚĞ ƚŚĞŶ ďĞĞŶ Ŷ ϮϬϭϯ͕ Ž ĞĂƌ ŚĂƐ ϯϭ͕ ĞƐƉĞĐƚƐ Ǉ ŝŶĐůƵĚĞĚ ƌ ŚĞ ƉŝŶŝŽŶ ƚ Ž DĂƌĐŚ Žƌ ĂƚĞƌŝĂů ƚ Ĩ Annual Report 2012-2013 | 1 Annual Report ŵ ŝŶĨŽƌŵĂƚŝŽŶ ůů ĨŽƌŵĂƚŝŽŶ ĂƐĂ Ŷ ƵŶĚƐ Ă Ĩ Ŷ ŝ ŝŶ ŶŵŽĚŝĨŝĞĚ ƵĐŚ Ƶ ĂŶ ƉŽƐŝƚŝŽ ŶƚƐ͘^ ƐƚĂƚĞĚ ƌĞƐƚƌŝĐƚĞĚ ĨĂŝƌůǇ ŶĚ ƚĂƚĞŵĞ ŝŶĂŶĐŝĂů ǆƉƌĞƐƐĞĚ Ɛ ƐƵƉƉůĞŵĞŶƚĂƌǇ Ă Ɛ ŝ Ĩ ŽĨ ŶĚĞ dŚĞ Ă ŝŶĂŶĐŝĂů ŽƉŝŶŝŽŶ͕ Ĩ ŽƉĞƌĂƚŝŶŐ ŚŽůĞ͘ ǁ ŽƵƌ ƚŚĞ Ŷ ƐƚĂƚĞŵĞŶƚƐ ŝ ĂƐĂ ĞƉĂƌĂƚĞ ŶĨŽƌŵĂƚŝŽŶ ĨŽƌ ŝ Ɛ ƚŚĞ ĂŶĚ͕ ŚĞ ƚ 0* ŽĨ ĂůĂŶĐĞƐ ƚĂƚĞŵĞŶƚƐ Ăƌƚ ŽŵƉƌŝƐĞ ď D Ɛ Đ Ɖ ĞǆƉůĂŶĂƚŽƌǇ .30*//3 R ƚĂƚĞŵĞŶƚƐ ƵŶĚ W &RRSHUDWLYH p.3 HUILUPRIWKH.30*QHWZRUN Ɛ Ĩ ŚŝĐŚ LRQDO ŝŶ DW ŽƚŚĞƌ ǁ ŝŶĂŶĐŝĂů UQ 7HOHSKRQH 7HOHID[ ZZZNSPJF Ĩ ƌĞƋƵŝƌĞĚ ,QWH Ă ĂŶĚ URYLGHVVHUYLFHV ŝŶĂŶĐŝĂů 0* Ĩ ŶŽƚ ĐŚĂŶŐĞƐ ŶĚƐƉŝƌĞ͕ &DQDGDS Ɛ ĞƉĂƌĂƚĞ * ŽĨ/ ƉŽůŝĐŝĞƐ ĂŶĚ ĞƐ ŶĚŝ .30 Ő DIILOLDWHGZLWK.3 ƐĞƉĂƌĂƚĞ ƚŚ Ă Ğ ŝƐ Ŷ Ɛ Ś ILUPV HU Ž ZLVVHQWLW\ ŽĨƚ ŶĂůǇ ƚĂƚĞŵĞŶƚƐ WPHPE Ă ĂĐĐŽƵŶƚŝŶ ŽƉĞƌĂƚŝŽŶƐ Ɛ Ĩ ƵĚŝƚ ŽƉŝŶŝŽŶ Ă Ž Ŷ ,1'(3(1'(17$8',7256 5(3257 UQDWLRQDOq D6 ŚĞ Ă .30*//3LVD&DQDGLDQOLPLWHGOLDELOLW\SDUWQHUVKLSDQGDPHPE RILQGHSHQGHQ ,QWH .30*&RQILGHQWLDO ƚ ŝŶĂŶĐŝĂů Ĩ ĂĚĚŝƚŝŽŶĂů ŝŶ ƐŝŐŶŝĨŝĐĂŶƚ Ĩ Ĩ Ž ŽƌŵŝŶŐ Ž ƚĂƚĞŵĞŶƚƐ Ĩ Ɛ ƉƉůŝĞĚ ĞƉĂƌĂƚĞ ŽĨ Ă ŚĞ Ɛ ƚ ƉƵƌƉŽƐĞƐ ƵŵŵĂƌǇ Ɛ ĨŽƌ ϮϬϭϭ͕ Ă ƉƵƌƉŽƐĞ 5 ϭ͕ ŚĞ /1 ƉƌŽĐĞĚƵƌĞƐ ƚ Ɖƌŝů Žƌ ĂĐĐŽŵƉĂŶǇŝŶŐ Ĩ ƌĞƐĞŶƚĞĚ ĐŽŵƉƌŝƐŝŶŐ Ɖ ƵĚŝƚŝŶŐ ŶĚ ƚŚĞ ŝƐ Ă Ă ϰ .30*//3 &KDUWHUHG$FFRXQWDQWV .LQJ6WUHHW:HVW6XLWH %R[ +DPLOWRQ21 ŵĂĚĞ ŚĞ Ž ŽƚĞƐ͕ ƚ ƚ Ŷ ϮϬϭϮ ǁĂƐ ƚŽ ϭ ĂƵĚŝƚĞĚ ŶĚ ϯϭ͕ Ă ĂǀĞ ĂƵĚŝƚ Ś ĞŶĚĞĚ͕ DĂƌĐŚ dŽƚŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐŽĨ/ŶĚƐƉŝƌĞ tĞ ƐƵďũĞĐƚĞĚ ^ĐŚĞĚƵůĞƐ ƐĞƉĂƌĂƚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽŶ:ƵŶĞϮϳ͕ϮϬϭϯ͘ KƉŝŶŝŽŶ KƵƌ ŚĂƌƚĞƌĞĚĐĐŽƵŶƚĂŶƚƐ͕>ŝĐĞŶƐĞĚWƵďůŝĐĐĐŽƵŶƚĂŶƚƐ ƌĞůĂƚŝŽŶƚŽƚŚĞƐĞƉĂƌĂƚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƚĂŬĞŶĂƐĂǁŚŽůĞ͘ :ƵŶĞϮϳ͕ϮϬϭϯ ,ĂŵŝůƚŽŶ͕ĂŶĂĚĂ /E^W/Z ^ĐŚĞĚƵůĞϭʹKƉĞƌĂƚŝŽŶƐʹĚƵĐĂƚŝŽŶ &ŽƌƚŚĞǇĞĂƌĞŶĚĞĚDĂƌĐŚϯϭ

ϮϬϭϯ ϮϬϭϮ

ZĞǀĞŶƵĞ͗ 'ŽǀĞƌŶŵĞŶƚŐƌĂŶƚƐ Ψ ϰ͕ϮϵϬ͕ϱϭϬΨϰ͕ϲϭϲ͕ϬϳϬ ŽƌƉŽƌĂƚĞ^ƉŽŶƐŽƌƐ ϭ͕ϭϰϰ͕ϵϭϱ ϵϱϳ͕ϯϰϯ /ŶǀĞƐƚŵĞŶƚ ϰϰ͕ϱϱϬ ϰϰ͕ϮϬϴ ŽŶĂƚĞĚƐĞƌǀŝĐĞƐĂŶĚŵĂƚĞƌŝĂůƐ ϲϯϵ ϰϱ͕ϰϳϰ DŝƐĐĞůůĂŶĞŽƵƐ ϯϲϴ͕ϴϱϮ ϯϯϮ͕ϯϵϰ ϱ͕ϴϰϵ͕ϰϲϲϱ͕ϵϵϱ͕ϰϴϵ ǆƉĞŶĚŝƚƵƌĞƐ͗ ĚǀĞƌƚŝƐŝŶŐ Ϯϵ͕ϯϭϮ ϱϵ͕ϰϳϯ ŽŶĂƚĞĚƐĞƌǀŝĐĞƐĂŶĚŵĂƚĞƌŝĂůƐ ϲϮϯ ϰϮ͕ϯϴϯ /ŶƐƵƌĂŶĐĞ ϰ͕ϴϰϰϳ͕ϰϬϮ :ƵƌǇ,ŽŶŽƌĂƌŝƵŵƐ ϯϳ͕ϱϬϬ ϯϯ͕ϱϬϯ KĨĨŝĐĞĂŶĚŐĞŶĞƌĂů ϵϳ͕Ϭϯϵ ϭϯϵ͕ϲϭϴ WƌŽĨĞƐƐŝŽŶĂůĨĞĞƐ ϭϬϰ͕ϳϬϰ ϭϮϴ͕ϮϮϭ WƵďůŝĐƌĞůĂƚŝŽŶƐ Ϯϳϯ͕Ϭϴϱ ϭϴϭ͕ϰϯϰ ZĞŶƚ ϰϮ͕ϵϵϯ ϱϴ͕ϲϵϳ ^ĂůĂƌŝĞƐĂŶĚŵĂŶĂŐĞŵĞŶƚĨĞĞƐ ϭ͕ϬϬϵ͕ϰϵϭ ϵϵϮ͕ϴϭϵ dĞůĞƉŚŽŶĞ ϭϲ͕ϱϳϯ Ϯϯ͕ϬϬϵ dƌĂŶƐůĂƚŝŽŶƐ ϯϭ͕ϰϱϬ ϭϰ͕ϵϬϴ dƌĂǀĞů ϰϰ͕ϱϲϲ ϯϮ͕ϭϯϱ ϭ͕ϲϵϮ͕ϭϴϬϭ͕ϳϭϯ͕ϲϬϮ ǆĐĞƐƐŽĨƌĞǀĞŶƵĞŽǀĞƌĞǆƉĞŶĚŝƚƵƌĞƐďĞĨŽƌĞĂǁĂƌĚƐĂŶĚƐĐŚŽůĂƌƐŚŝƉƐ ϰ͕ϭϱϳ͕Ϯϴϲϰ͕Ϯϴϭ͕ϴϴϳ ǁĂƌĚƐĂŶĚƐĐŚŽůĂƌƐŚŝƉƐ ϰ͕ϭϵϵ͕ϲϬϬϰ͕ϰϵϯ͕ϭϮϬ ǆĐĞƐƐŽĨĞǆƉĞŶĚŝƚƵƌĞŽǀĞƌƌĞǀĞŶƵĞ Ψ ;ϰϮ͕ϯϭϰͿ Ψ ;Ϯϭϭ͕ϮϯϯͿ

2 | Indspire Ϯ Appendix: Financial Statement ϯ ϮϬϭϮ Ϯϱ͕ϵϰϵ ϱϮ͕ϲϳϳ ϯϱ͕ϱϳϯ ϭϭ͕ϵϲϵ ϰϬ͕Ϭϭϱ ϵϯ͕Ϯϵϭ ϱϬ͕ϱϮϬ ϯϴ͕ϲϴϯ ϯϮ͕ϭϯϮ ϮϳϬ͕ϴϬϴ ϱϮϰ͕ϰϯϭ ϭϴϳ͕ϳϯϲ ϭϯϳ͕ϯϴϱ ϭϰϭ͕ϱϴϬ ϭϮϵ͕ϮϮϳ ϭϯϵ͕ϬϬϵ ϱϱϬ͕ϬϬϬ ϮϱϮ͕ϭϲϯ ϭϯϴ͕ϵϴϱ ϮϱϬ͕ϱϬϬ ;ϭϲϭ͕ϲϳϯͿ ͕ϴϵϯ͕ϴϯϭ ͕ϳϳϭ͕ϬϮϵ ͕ϳϯϮ͕ϭϱϴ ͕ϱϯϯ͕ϴϮϳ ͕Ϯϭϴ͕ϱϬϬ ϭ Ψ Annual Report 2012-2013 | 3 Annual Report ϯ ϭ ϯ Ψ ϭ ϮϬϭϯ Ϯϲ͕ϵϮϵ ϱϳ͕ϯϮϰ ϵϰ͕ϴϱϮ ϰϲ͕ϲϭϮ ϭϯ͕ϯϳϳ ϯϰ͕ϴϭϯ ϵϯ͕ϴϲϲ ϯϴ͕ϭϱϬ ϵϰ͕ϭϮϯ ϲϯ͕ϵϭϵ ϴϴ͕ϱϵϰ ϭϲ͕ϮϬϬ ϭϭ͕ϵϰϭ ;ϰϯ͕ϵϰϱͿ ϯϭϬ͕Ϭϳϰ ϱϲϵ͕ϭϵϱ ϭϳϲ͕ϳϴϮ ϭϯϯ͕Ϯϱϭ ϭϭϴ͕ϭϱϱ ϲϬϬ͕ϬϬϬ Ϯϲϱ͕ϬϬϬ ϯ͕ϲϴϱ͕ϰϯϮ ϭ͕ϲϯϭ͕ϭϵϮ ϯ͕ϲϰϭ͕ϰϴϳ ϭ͕ϮϲϬ͕ϱϬϬ ϭ͕ϱϴϮ͕ϬϳϬ Ψ Ψ ƌĞůĂƚŝŽŶƐ ŽǀĞƌŶŵĞŶƚŐƌĂŶƚƐ dƌĂǀĞůĂŶĚĂĐĐŽŵŵŽĚĂƚŝŽŶ ^ĂůĂƌŝĞƐ dĞůĞƉŚŽŶĞ ZĞŶƚ ZĞĐĞƉƚŝŽŶĂŶĚĐĂƚĞƌŝŶŐ WƌŽĨĞƐƐŝŽŶĂůĨĞĞƐ WƵďůŝĐ WƌŽĚƵĐƚŝŽŶĐŽƐƚƐ WƌŝŶƚŝŶŐĚĞƐŝŐŶĂŶĚƉƌŽŐƌĂŵĐŽƐƚƐ WŽƐƚĂŐĞĂŶĚĐŽƵƌŝĞƌ KĨĨŝĐĞĂŶĚŐĞŶĞƌĂů &ĂĐŝůŝƚǇƌĞŶƚĂů /ŶƐƵƌĂŶĐĞ ŽŶĂƚĞĚƐĞƌǀŝĐĞƐĂŶĚŵĂƚĞƌŝĂůƐ /ŶǀĞƐƚŵĞŶƚ ŽŶĂƚĞĚƐĞƌǀŝĐĞƐĂŶĚŵĂƚĞƌŝĂůƐ >ŝĐĞŶƐĞĨĞĞƐĞĂƌŶĞĚ ŝƌƚŝŵĞĨĞĞƐ ǁĂƌĚĐŝƚĂƚŝŽŶƐ dŝĐŬĞƚƐĂŶĚŽƚŚĞƌ ǆĐĞƐƐŽĨĞǆƉĞŶĚŝƚƵƌĞƐŽǀĞƌƌĞǀĞŶƵĞ ĚǀĞƌƚŝƐŝŶŐ ŽƌƉŽƌĂƚĞ^ƉŽŶƐŽƌƐŚŝƉƐ ' ǆƉĞŶĚŝƚƵƌĞƐ͗ ZĞǀĞŶƵĞ͗ ^ĐŚĞĚƵůĞϮͲKƉĞƌĂƚŝŽŶƐʹ/ŶĚƐƉŝƌĞǁĂƌĚƐ &ŽƌƚŚĞǇĞĂƌĞŶĚĞĚDĂƌĐŚϯϭ /E^W/Z /E^W/Z ^ĐŚĞĚƵůĞϯͲKƉĞƌĂƚŝŽŶƐʹ/ŶĚƐƉŝƌĞ/ŶƐƚŝƚƵƚĞ;<ͲϭϮͿ &ŽƌƚŚĞǇĞĂƌĞŶĚĞĚDĂƌĐŚϯϭ

ϮϬϭϯ ϮϬϭϮ

ZĞǀĞŶƵĞ͗ 'ŽǀĞƌŶŵĞŶƚŐƌĂŶƚƐ Ψ ϱϰϱ͕ϲϴϳΨ Ϯϯϯ͕Ϯϱϴ ŽŶĂƚŝŽŶƐ ϵϴϲ͕Ϯϰϰ ϰϭϰ͕ϳϴϯ ŽŶĂƚĞĚƐĞƌǀŝĐĞƐĂŶĚŵĂƚĞƌŝĂůƐ Ͳ ϯ͕Ϯϭϯ DŝƐĐĞůůĂŶĞŽƵƐ ϯϱ͕Ϭϵϵ ϳϵ͕ϰϱϰ /ŶǀĞƐƚŵĞŶƚ Ϯ͕ϬϮϱ ϭϲ͕ϱϳϴ ϭ͕ϱϲϵ͕Ϭϱϱ ϳϰϳ͕Ϯϴϲ ǆƉĞŶĚŝƚƵƌĞƐ͗ ĞůŝǀĞƌǇ ϳϴϮ͕ϳϮϳ ϯϰϯ͕ϯϭϴ ŽŶĂƚĞĚƐĞƌǀŝĐĞƐ Ͳ ϰ͕ϭϭϭ /ŶĨŽƌŵĂƚŝŽŶƐĞƌǀŝĐĞƐ Ϯϳ͕Ϯϵϱ ϮϬ͕ϯϴϯ KĨĨŝĐĞĂŶĚŐĞŶĞƌĂů ϳϲ͕ϵϵϴ ϯϱ͕ϴϯϰ WŽƐƚĂŐĞĂŶĚĐŽƵƌŝĞƌ ϭϮ͕ϮϲϮϱ͕ϰϳϮ WƌŽĨĞƐƐŝŽŶĂůĨĞĞƐ ϱϵ͕ϰϬϴ ϯϴ͕ϭϬϵ WƵďůŝĐƌĞůĂƚŝŽŶƐ ϭϮ͕ϴϵϮ ϭϳ͕ϰϳϴ ZĞŶƚ ϱϮ͕ϱϰϳ Ϯϰ͕Ϭϴϭ ^ĂůĂƌŝĞƐĂŶĚŵĂŶĂŐĞŵĞŶƚĨĞĞƐ ϱϮϲ͕ϱϰϭ ϮϱϮ͕ϭϱϵ dĞůĞƉŚŽŶĞ ϮϬ͕Ϯϱϲϵ͕ϰϰϬ dƌĂŶƐůĂƚŝŽŶƐ ϯϬϰϲ͕ϭϭϲ dƌĂǀĞů ϯϵ͕ϳϳϬ Ϯϭ͕ϵϯϴ ϭ͕ϲϭϭ͕ϬϬϬ ϳϳϴ͕ϰϯϵ ǆĐĞƐƐŽĨĞǆƉĞŶĚŝƚƵƌĞŽǀĞƌƌĞǀĞŶƵĞ Ψ ;ϰϭ͕ϵϰϱͿ Ψ ;ϯϭ͕ϭϱϯͿ

4 | Indspire ϰ Appendix: Financial Statement ϱ ϯϳϵ ͕ϵϬϬ ͕ϴϮϯ ͕ϰϮϬ ϮϬϭϮ ϯϳ͕ϬϵϮ ϭϱ͕ϵϵϱ ϭϭ͕ϵϲϰ ϯϳ͕ϳϯϮ Ϯϴ͕ϴϬϱ ϭϱ͕Ϭϱϭ ϲϰ͕ϰϮϲ ϭϭ͕ϬϱϮ ϭϮ͕ϭϰϲ ϴϯ͕ϯϴϬ ϭϰ͕Ϭϲϭ ϴϮ͕ϱϭϯ ϮϬ͕ϲϬϮ ;ϲϬ͕ϬϬϭͿ Ϯϰϳ͕Ϯϰϵ ϭϲϮ͕ϱϰϳ Ϯϳϵ͕ϵϴϭ ϲϯϬ͕ϰϳϱ ϯϰϰ͕ϬϬϬ ͕ϬϮϲ͕Ϯϵϲ ͕Ϭϴϲ͕Ϯϵϳ Ψ Annual Report 2012-2013 | 5 Annual Report ϭ ϭ Ψ ϱ ϯ ϯ ϯϮϮ ϮϬϭϯ ϭ͕ϰϴϲ ϱ͕Ϭϰϴ Ϯ͕ϰϱϱ Ϯ͕ϴϯϳ ϲ͕ϯϲϵ ϰ͕ϳϮϱ Ϯ͕ϴϮϱ ϳ͕ϭϭϭ Ϯϰ͕ϳϳϯ ϳϯ͕ϴϱϴ ϯϱ͕ϵϵϬ ϲϬ͕ϭϮϭ ϭϭ͕ϭϭϵ ϱϮ͕ϯϲϱ Ϯϴ͕ϭϵϰ ;ϱϰ͕ϮϮϳͿ ϮϮϴ͕ϳϯϱ ϵϬϬ͕ϯϮϯ ϮϱϬ͕ϵϱϵ ϭϬϴ͕ϵϯϭ ϵϱϰ͕ϱϱϬ ϮϬϱ͕ϵϯϰ ϲϮϲ͕ϳϬϲ ϭϭϰ͕ϬϭϬ Ψ Ψ WŽƐƚĂŐĞĂŶĚĐŽƵƌŝĞƌ /ŶĨŽƌŵĂƚŝŽŶƐĞƌǀŝĐĞƐ KĨĨŝĐĞĂŶĚŐĞŶĞƌĂů dĞůĞƉŚŽŶĞ ,ŽŶŽƌĂƌŝƵŵƐ ,ŽƚĞůĂĐĐŽŵŵŽĚĂƚŝŽŶƐĂŶĚŵĞĂůƐ ŽŶĂƚĞĚƐĞƌǀŝĐĞƐĂŶĚŵĂƚĞƌŝĂůƐ ^ĂůĂƌŝĞƐĂŶĚŵĂŶĂŐĞŵĞŶƚĨĞĞƐ ,ĂůůƌĞŶƚĂů DŝƐĐĞůůĂŶĞŽƵƐ ZĞŶƚ ƋƵŝƉŵĞŶƚƌĞŶƚĂů /ŶǀĞƐƚŵĞŶƚ WƵďůŝĐƌĞůĂƚŝŽŶƐ 'ŽǀĞƌŶŵĞŶƚŐƌĂŶƚƐ ŽŶĂƚĞĚƐĞƌǀŝĐĞƐĂŶĚŵĂƚĞƌŝĂůƐ ŽƌƉŽƌĂƚĞ^ƉŽŶƐŽƌƐŚŝƉƐ WƌŽĨĞƐƐŝŽŶĂůĨĞĞƐ dƌĂŶƐůĂƚŝŽŶƐ dƌĂǀĞů ǆĐĞƐƐŽĨĞǆƉĞŶĚŝƚƵƌĞƐŽǀĞƌƌĞǀĞŶƵĞ ĚǀĞƌƚŝƐŝŶŐ WƌŝŶƚŝŶŐ͕ĚĞƐŝŐŶĂŶĚƉƌŽŐƌĂŵ ǆƉĞŶĚŝƚƵƌĞƐ͗ ZĞǀĞŶƵĞ͗ ^ĐŚĞĚƵůĞϰͲKƉĞƌĂƚŝŽŶƐʹ^ŽĂƌŝŶŐzŽƵƚŚĂƌĞĞƌŽŶĨĞƌĞŶĐĞƐ &ŽƌƚŚĞǇĞĂƌĞŶĚĞĚDĂƌĐŚϯϭ /E^W/Z

Appendix: Financial Statement /E^W/Z zĞĂƌƐĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯĂŶĚϮϬϭϮ ^ƵƉƉůĞŵĞŶƚĂƌǇ/ŶĨŽƌŵĂƚŝŽŶƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐŽĨ /E^W/Z ^ƵƉƉůĞŵĞŶƚĂƌǇ/ŶĨŽƌŵĂƚŝŽŶƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ zĞĂƌƐĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯĂŶĚϮϬϭϮ

&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ WĂŐĞ /ŶĚĞƉĞŶĚĞŶƚƵĚŝƚŽƌƐ͛ZĞƉŽƌƚŽŶ^ƵƉƉůĞŵĞŶƚĂƌǇ/ŶĨŽƌŵĂƚŝŽŶ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭ ^ĐŚĞĚƵůĞϭʹKƉĞƌĂƚŝŽŶƐʹĚƵĐĂƚŝŽŶ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯ ^ĐŚĞĚƵůĞϮʹKƉĞƌĂƚŝŽŶƐʹ/ŶĚƐƉŝƌĞǁĂƌĚƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯ ^ĐŚĞĚƵůĞϯʹKƉĞƌĂƚŝŽŶƐʹ/ŶĚƐƉŝƌĞ/ŶƐƚŝƚƵƚĞ;<ͲϭϮͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱ ^ĐŚĞĚƵůĞϰʹKƉĞƌĂƚŝŽŶƐʹ^ŽĂƌŝŶŐzŽƵƚŚĂƌĞĞƌŽŶĨĞƌĞŶĐĞƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϲ Appendix: Financial Statement ϭ Ŷ ŝŶ ŝ ƚŚĞ ƚŚĞŶ ďĞĞŶ Ŷ ϮϬϭϯ͕ Ž ĞĂƌ ŚĂƐ ϯϭ͕ ĞƐƉĞĐƚƐ Ǉ ŝŶĐůƵĚĞĚ ƌ ŚĞ ƉŝŶŝŽŶ ƚ Ž DĂƌĐŚ Žƌ ĂƚĞƌŝĂů ƚ Ĩ ŵ Annual Report 2012-2013 | 1 Annual Report ŝŶĨŽƌŵĂƚŝŽŶ ůů ĨŽƌŵĂƚŝŽŶ ĂƐĂ Ŷ ƵŶĚƐ Ă Ĩ Ŷ ŝ ŝŶ ŶŵŽĚŝĨŝĞĚ ƵĐŚ Ƶ ĂŶ ƉŽƐŝƚŝŽ ŶƚƐ͘^ ƐƚĂƚĞĚ ƌĞƐƚƌŝĐƚĞĚ ĨĂŝƌůǇ ŶĚ ƚĂƚĞŵĞ ŝŶĂŶĐŝĂů ǆƉƌĞƐƐĞĚ Ɛ ƐƵƉƉůĞŵĞŶƚĂƌǇ Ă Ɛ ŝ Ĩ ŽĨ ŶĚĞ dŚĞ Ă ŝŶĂŶĐŝĂů ŽƉŝŶŝŽŶ͕ Ĩ ŽƉĞƌĂƚŝŶŐ ŚŽůĞ͘ ǁ ŽƵƌ ƚŚĞ Ŷ ƐƚĂƚĞŵĞŶƚƐ ŝ ĂƐĂ ĞƉĂƌĂƚĞ ŶĨŽƌŵĂƚŝŽŶ ĨŽƌ ŝ Ɛ ƚŚĞ ĂŶĚ͕ ŚĞ ƚ 0* ŽĨ ĂůĂŶĐĞƐ ƚĂƚĞŵĞŶƚƐ Ăƌƚ ŽŵƉƌŝƐĞ ď D Ɛ Đ Ɖ ĞǆƉůĂŶĂƚŽƌǇ .30*//3 R ƚĂƚĞŵĞŶƚƐ ƵŶĚ W &RRSHUDWLYH p.3 HUILUPRIWKH.30*QHWZRUN Ɛ Ĩ ŚŝĐŚ LRQDO ŝŶ DW ŽƚŚĞƌ ǁ ŝŶĂŶĐŝĂů UQ 7HOHSKRQH 7HOHID[ ZZZNSPJF Ĩ ƌĞƋƵŝƌĞĚ ,QWH Ă ĂŶĚ URYLGHVVHUYLFHV ŝŶĂŶĐŝĂů 0* Ĩ ŶŽƚ ĐŚĂŶŐĞƐ ŶĚƐƉŝƌĞ͕ &DQDGDS Ɛ ĞƉĂƌĂƚĞ * ŽĨ/ ƉŽůŝĐŝĞƐ ĂŶĚ ĞƐ ŶĚŝ .30 Ő DIILOLDWHGZLWK.3 ƐĞƉĂƌĂƚĞ ƚŚ Ă Ğ ŝƐ Ŷ Ɛ Ś ILUPV HU Ž ZLVVHQWLW\ ŽĨƚ ŶĂůǇ ƚĂƚĞŵĞŶƚƐ WPHPE Ă ĂĐĐŽƵŶƚŝŶ ŽƉĞƌĂƚŝŽŶƐ Ɛ Ĩ ƵĚŝƚ ŽƉŝŶŝŽŶ Ă Ž Ŷ ,1'(3(1'(17$8',7256 5(3257 UQDWLRQDOq D6 ŚĞ Ă .30*//3LVD&DQDGLDQOLPLWHGOLDELOLW\SDUWQHUVKLSDQGDPHPE RILQGHSHQGHQ ,QWH .30*&RQILGHQWLDO ƚ ŝŶĂŶĐŝĂů Ĩ ĂĚĚŝƚŝŽŶĂů ŝŶ ƐŝŐŶŝĨŝĐĂŶƚ Ĩ Ĩ Ž ŽƌŵŝŶŐ Ž ƚĂƚĞŵĞŶƚƐ Ĩ Ɛ ƉƉůŝĞĚ ĞƉĂƌĂƚĞ ŽĨ Ă ŚĞ Ɛ ƚ ƉƵƌƉŽƐĞƐ ƵŵŵĂƌǇ Ɛ ĨŽƌ ϮϬϭϭ͕ Ă ƉƵƌƉŽƐĞ 5 ϭ͕ ŚĞ /1 ƉƌŽĐĞĚƵƌĞƐ ƚ Ɖƌŝů Žƌ ĂĐĐŽŵƉĂŶǇŝŶŐ Ĩ ƌĞƐĞŶƚĞĚ ĐŽŵƉƌŝƐŝŶŐ Ɖ ƵĚŝƚŝŶŐ ŶĚ ƚŚĞ ŝƐ Ă Ă ϰ +DPLOWRQ21 .LQJ6WUHHW:HVW6XLWH .30*//3 &KDUWHUHG$FFRXQWDQWV %R[ ŵĂĚĞ ŚĞ Ž ŽƚĞƐ͕ ƚ ƚ Ŷ ϮϬϭϮ ǁĂƐ ƚŽ ϭ ĂƵĚŝƚĞĚ ŶĚ ϯϭ͕ Ă ĂǀĞ ĂƵĚŝƚ Ś ĞŶĚĞĚ͕ DĂƌĐŚ dŽƚŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐŽĨ/ŶĚƐƉŝƌĞ tĞ ƐƵďũĞĐƚĞĚ ^ĐŚĞĚƵůĞƐ KƵƌ ƐĞƉĂƌĂƚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽŶ:ƵŶĞϮϳ͕ϮϬϭϯ͘ KƉŝŶŝŽŶ ŚĂƌƚĞƌĞĚĐĐŽƵŶƚĂŶƚƐ͕>ŝĐĞŶƐĞĚWƵďůŝĐĐĐŽƵŶƚĂŶƚƐ ƌĞůĂƚŝŽŶƚŽƚŚĞƐĞƉĂƌĂƚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƚĂŬĞŶĂƐĂǁŚŽůĞ͘ :ƵŶĞϮϳ͕ϮϬϭϯ ,ĂŵŝůƚŽŶ͕ĂŶĂĚĂ /E^W/Z ^ĐŚĞĚƵůĞϭͲKƉĞƌĂƚŝŽŶƐʹĚƵĐĂƚŝŽŶ &ŽƌƚŚĞǇĞĂƌĞŶĚĞĚDĂƌĐŚϯϭ

ϮϬϭϯ ZĞǀĞŶƵĞ͗ 'ŽǀĞƌŶŵĞŶƚŐƌĂŶƚƐ͗ ďŽƌŝŐŝŶĂůĨĨĂŝƌƐĂŶĚEŽƌƚŚĞƌŶĞǀĞůŽƉŵĞŶƚĂŶĂĚĂ Ψ ϲϭϭ͕ϱϭϬ ĂŶĂĚŝĂŶ,ĞƌŝƚĂŐĞ ϲϰ͕ϬϬϬ ,ĞĂůƚŚĂŶĂĚĂ ϯ͕ϱϬϬ͕ϬϬϬ :ƵƐƚŝĐĞĂŶĂĚĂ ϭϭϱ͕ϬϬϬ ŽƌƉŽƌĂƚĞ^ƉŽŶƐŽƌƐŚŝƉƐ ϭ͕ϭϰϰ͕ϵϭϱ /ŶǀĞƐƚŵĞŶƚ ϰϰ͕ϱϱϬ ŽŶĂƚĞĚƐĞƌǀŝĐĞƐĂŶĚŵĂƚĞƌŝĂůƐ ϲϯϵ DŝƐĐĞůůĂŶĞŽƵƐ ϯϲϴ͕ϴϱϮ ϱ͕ϴϰϵ͕ϰϲϲ ǆƉĞŶĚŝƚƵƌĞƐ͗ ĚǀĞƌƚŝƐŝŶŐ Ϯϵ͕ϯϭϮ ŽŶĂƚĞĚƐĞƌǀŝĐĞƐĂŶĚŵĂƚĞƌŝĂůƐ ϲϮϯ /ŶƐƵƌĂŶĐĞ ϰ͕ϴϰϰ :ƵƌǇ,ŽŶŽƌĂƌŝƵŵƐ ϯϳ͕ϱϬϬ KĨĨŝĐĞĂŶĚŐĞŶĞƌĂů ϵϳ͕Ϭϯϵ WƌŽĨĞƐƐŝŽŶĂůĨĞĞƐ ϭϬϰ͕ϳϬϰ WƵďůŝĐƌĞůĂƚŝŽŶƐ Ϯϳϯ͕Ϭϴϱ ZĞŶƚ ϰϮ͕ϵϵϯ ^ĂůĂƌŝĞƐĂŶĚŵĂŶĂŐĞŵĞŶƚĨĞĞƐ ϭ͕ϬϬϵ͕ϰϵϭ dĞůĞƉŚŽŶĞ ϭϲ͕ϱϳϯ dƌĂŶƐůĂƚŝŽŶ ϯϭ͕ϰϱϬ dƌĂǀĞů ϰϰ͕ϱϲϲ ϭ͕ϲϵϮ͕ϭϴϬ ǆĐĞƐƐŽĨƌĞǀĞŶƵĞŽǀĞƌĞǆƉĞŶĚŝƚƵƌĞƐďĞĨŽƌĞĂǁĂƌĚƐĂŶĚƐĐŚŽůĂƌƐŚŝƉƐ ϰ͕ϭϱϳ͕Ϯϴϲ ǁĂƌĚƐĂŶĚƐĐŚŽůĂƌƐŚŝƉƐ ϰ͕ϭϵϵ͕ϲϬϬ ǆĐĞƐƐŽĨĞǆƉĞŶĚŝƚƵƌĞƐŽǀĞƌƌĞǀĞŶƵĞ Ψ ;ϰϮ͕ϯϭϰͿ

Ϯ 2 | Indspire Appendix: Financial Statement ϯ ϮϬϭϯ ϭϲ͕ϮϬϬ ϵϰ͕ϭϮϯ ϱϳ͕ϯϮϰ ϴϴ͕ϱϵϰ ϵϰ͕ϴϱϮ ϯϱ͕ϬϬϬ ϰϬ͕ϬϬϬ ϲϱ͕ϬϬϬ ϭϲ͕ϱϬϬ Ϯϱ͕ϬϬϬ ϭϭ͕ϵϰϭ ϲϯ͕ϵϭϵ ϵϯ͕ϴϲϲ ϯϴ͕ϭϱϬ ϯϰ͕ϴϭϯ ϭϯ͕ϯϳϳ ϰϲ͕ϲϭϮ ϲϬϬ͕ϬϬϬ ϭϯϯ͕Ϯϱϭ ϭϳϲ͕ϳϴϮ ϰϱϯ͕ϬϬϬ ϮϮϲ͕ϬϬϬ ϰϬϬ͕ϬϬϬ Ϯϲϱ͕ϬϬϬ ϭϭϴ͕ϭϱϱ ϯ͕ϲϰϭ͕ϰϴϳ ϭ͕ϱϴϮ͕ϬϳϬ ϭ͕ϲϯϭ͕ϭϵϮ Ψ Annual Report 2012-2013 | 3 Annual Report ĂŶĂĚŝĂŶ,ĞƌŝƚĂŐĞ ďŽƌŝŐŝŶĂůĨĨĂŝƌƐĂŶĚEŽƌƚŚĞƌŶĞǀĞůŽƉŵĞŶƚĂŶĂĚĂ ,ƵŵĂŶZĞƐŽƵƌĐĞƐĂŶĚ^ŬŝůůƐĞǀĞůŽƉŵĞŶƚ 'ŽǀĞƌŶŵĞŶƚŽĨEŽƌƚŚǁĞƐƚdĞƌƌŝƚŽƌŝĞƐ 'ŽǀĞƌŶŵĞŶƚŽĨEƵŶĂǀƵƚ 'ŽǀĞƌŶŵĞŶƚŽĨ^ĂƐŬĂƚĐŚĞǁĂŶ ĂŶĂĚŝĂŶDŽƌƚŐĂŐĞĂŶĚ,ŽƵƐŝŶŐŽƌƉŽƌĂƚŝŽŶ ŝƚǇŽĨ^ĂƐŬĂƚŽŽŶ ŽŶĂƚĞĚƐĞƌǀŝĐĞƐĂŶĚŵĂƚĞƌŝĂůƐ >ŝĐĞŶƐĞĨĞĞƐĞĂƌŶĞĚ dŝĐŬĞƚƐĂŶĚŽƚŚĞƌ /ŶǀĞƐƚŵĞŶƚ WƌŽĨĞƐƐŝŽŶĂůĨĞĞƐ WƵďůŝĐƌĞůĂƚŝŽŶƐ ZĞĐĞƉƚŝŽŶĂŶĚĐĂƚĞƌŝŶŐ ZĞŶƚ ŽƌƉŽƌĂƚĞ^ƉŽŶƐŽƌƐŚŝƉƐ ŝƌƚŝŵĞĨĞĞƐ ǁĂƌĚĐŝƚĂƚŝŽŶƐ ŽŶĂƚĞĚƐĞƌǀŝĐĞƐĂŶĚŵĂƚĞƌŝĂůƐ &ĂĐŝůŝƚǇƌĞŶƚĂů /ŶƐƵƌĂŶĐĞ KĨĨŝĐĞĂŶĚŐĞŶĞƌĂů WŽƐƚĂŐĞĂŶĚĐŽƵƌŝĞƌ WƌŝŶƚŝŶŐ͕ĚĞƐŝŐŶĂŶĚƉƌŽŐƌĂŵĐŽƐƚƐ WƌŽĚƵĐƚŝŽŶĐŽƐƚƐ 'ŽǀĞƌŶŵĞŶƚŐƌĂŶƚƐ͗ ĚǀĞƌƚŝƐŝŶŐ ǆƉĞŶĚŝƚƵƌĞƐ͗ ^ĐŚĞĚƵůĞϮͲKƉĞƌĂƚŝŽŶƐʹ/ŶĚƐƉŝƌĞǁĂƌĚƐ Z&d &ŽƌƚŚĞǇĞĂƌĞŶĚĞĚDĂƌĐŚϯϭ /E^W/Z ZĞǀĞŶƵĞ͗ /E^W/Z ^ĐŚĞĚƵůĞϮͲKƉĞƌĂƚŝŽŶƐʹ/ŶĚƐƉŝƌĞǁĂƌĚƐ;ĐŽŶƚŝŶƵĞĚͿ &ŽƌƚŚĞǇĞĂƌĞŶĚĞĚDĂƌĐŚϯϭ

^ĂůĂƌŝĞƐ ϱϲϵ͕ϭϵϱ dĞůĞƉŚŽŶĞ Ϯϲ͕ϵϮϵ dƌĂǀĞů ϯϭϬ͕Ϭϳϰ ϯ͕ϲϴϱ͕ϰϯϮ ǆĐĞƐƐŽĨĞǆƉĞŶĚŝƚƵƌĞƐŽǀĞƌƌĞǀĞŶƵĞ Ψ ;ϰϯ͕ϵϰϱͿ

ϰ 4 | Indspire Appendix: Financial Statement Ϳ ϱ ϯϬϰ ϮϬϭϯ Ϯ͕ϬϮϱ ϮϬ͕Ϯϱϲ ϯϵ͕ϳϳϬ Ϯϱ͕ϬϬϬ Ϯϱ͕ϬϬϬ ϯϱ͕Ϭϵϵ ϱϮ͕ϱϰϳ Ϯϳ͕Ϯϵϱ ϳϲ͕ϵϵϴ ϭϮ͕ϮϲϮ ϱϵ͕ϰϬϴ ϭϮ͕ϴϵϮ ;ϰϭ͕ϵϰϱ ϱϮϲ͕ϱϰϭ ϯϰϵ͕ϳϱϬ ϭϰϱ͕ϵϯϳ ϵϴϲ͕Ϯϰϰ ϳϴϮ͕ϳϮϳ ϭ͕ϲϭϭ͕ϬϬϬ ϭ͕ϱϲϵ͕Ϭϱϱ Ψ Ψ Annual Report 2012-2013 | 5 Annual Report ďŽƌŝŐŝŶĂůĨĨĂŝƌƐĂŶĚEŽƌƚŚĞƌŶĞǀĞůŽƉŵĞŶƚĂŶĂĚĂ WƌŽǀŝŶĐĞŽĨKŶƚĂƌŝŽ 'ŽǀĞƌŶŵĞŶƚŽĨůďĞƌƚĂ 'ŽǀĞƌŶŵĞŶƚŽĨDĂŶŝƚŽďĂ dĞůĞƉŚŽŶĞ dƌĂŶƐůĂƚŝŽŶƐ dƌĂǀĞů ŽŶĂƚŝŽŶƐ DŝƐĐĞůůĂŶĞŽƵƐ /ŶǀĞƐƚŵĞŶƚ ^ĂůĂƌŝĞƐĂŶĚŵĂŶĂŐĞŵĞŶƚĨĞĞƐ 'ŽǀĞƌŶŵĞŶƚŐƌĂŶƚƐ͗ ĞůŝǀĞƌǇ /ŶĨŽƌŵĂƚŝŽŶƐĞƌǀŝĐĞƐ KĨĨŝĐĞĂŶĚŐĞŶĞƌĂů WŽƐƚĂŐĞĂŶĚĐŽƵƌŝĞƌ WƌŽĨĞƐƐŝŽŶĂůĨĞĞƐ WƵďůŝĐƌĞůĂƚŝŽŶƐ ZĞŶƚ ǆĐĞƐƐŽĨĞǆƉĞŶĚŝƚƵƌĞƐŽǀĞƌƌĞǀĞŶƵĞ ǆƉĞŶĚŝƚƵƌĞƐ͗ ^ĐŚĞĚƵůĞϯͲKƉĞƌĂƚŝŽŶƐʹ/ŶĚƐƉŝƌĞ/ŶƐƚŝƚƵƚĞ;<ͲϭϮͿ &ŽƌƚŚĞǇĞĂƌĞŶĚĞĚDĂƌĐŚϯϭ /E^W/Z ZĞǀĞŶƵĞ͗ /E^W/Z ^ĐŚĞĚƵůĞϰͲKƉĞƌĂƚŝŽŶƐʹ^ŽĂƌŝŶŐzŽƵƚŚĂƌĞĞƌŽŶĨĞƌĞŶĐĞƐ &ŽƌƚŚĞǇĞĂƌĞŶĚĞĚDĂƌĐŚϯϭ

ϮϬϭϯ ZĞǀĞŶƵĞ͗ 'ŽǀĞƌŶŵĞŶƚŐƌĂŶƚƐ͗ ďŽƌŝŐŝŶĂůĨĨĂŝƌƐĂŶĚEŽƌƚŚĞƌŶĞǀĞůŽƉŵĞŶƚĂŶĂĚĂ Ψ ϴϰ͕ϬϬϬ ĂŶĂĚŝĂŶ,ĞƌŝƚĂŐĞ ϱϬ͕ϬϬϬ 'ŽǀĞƌŶŵĞŶƚŽĨůďĞƌƚĂ ϱϬ͕ϬϬϬ KƚŚĞƌ Ϯϭ͕ϵϯϰ ŽƌƉŽƌĂƚĞ^ƉŽŶƐŽƌƐŚŝƉƐ ϲϮϲ͕ϳϬϲ /ŶǀĞƐƚŵĞŶƚ ϰ͕ϳϮϱ DŝƐĐĞůůĂŶĞŽƵƐ ϲϬ͕ϭϮϭ ŽŶĂƚĞĚƐĞƌǀŝĐĞƐĂŶĚŵĂƚĞƌŝĂůƐ Ϯ͕ϴϯϳ ϵϬϬ͕ϯϮϯ ǆƉĞŶĚŝƚƵƌĞƐ͗ ĚǀĞƌƚŝƐŝŶŐ Ϯϴ͕ϭϵϰ ŽŶĂƚĞĚƐĞƌǀŝĐĞƐĂŶĚŵĂƚĞƌŝĂůƐ Ϯ͕ϴϮϱ ƋƵŝƉŵĞŶƚƌĞŶƚĂů ϭϬϴ͕ϵϯϭ ,ĂůůƌĞŶƚĂů ϮϱϬ͕ϵϱϵ ,ŽŶŽƌĂƌŝƵŵƐ ϯϱ͕ϵϵϬ ,ŽƚĞůĂĐĐŽŵŵŽĚĂƚŝŽŶƐĂŶĚŵĞĂůƐ ϮϮϴ͕ϳϯϱ /ŶĨŽƌŵĂƚŝŽŶƐĞƌǀŝĐĞƐ ϱ͕Ϭϰϴ KĨĨŝĐĞĂŶĚŐĞŶĞƌĂů Ϯϰ͕ϳϳϯ WŽƐƚĂŐĞĂŶĚĐŽƵƌŝĞƌ ϭ͕ϰϴϲ WƌŝŶƚŝŶŐĚĞƐŝŐŶĂŶĚƉƌŽŐƌĂŵ ϭϭϰ͕ϬϭϬ WƌŽĨĞƐƐŝŽŶĂůĨĞĞƐ ϳ͕ϭϭϭ WƵďůŝĐƌĞůĂƚŝŽŶƐ ϯϮϮ ZĞŶƚ ϲ͕ϯϲϵ ^ĂůĂƌŝĞƐĂŶĚŵĂŶĂŐĞŵĞŶƚĨĞĞƐ ϳϯ͕ϴϱϴ dĞůĞƉŚŽŶĞ Ϯ͕ϰϱϱ dƌĂŶƐůĂƚŝŽŶƐ ϭϭ͕ϭϭϵ dƌĂǀĞů ϱϮ͕ϯϲϱ ϵϱϰ͕ϱϱϬ ǆĐĞƐƐŽĨĞǆƉĞŶĚŝƚƵƌĞƐŽǀĞƌƌĞǀĞŶƵĞ Ψ ;ϱϰ͕ϮϮϳͿ

6 | Indspire ϲ

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