{
  "docId": "019de073-0e3e-718f-a619-12ed5a3bf0bd",
  "docSlug": "64ba5cf989a0cf767f243c357144339d",
  "documentTitle": "TD Securities | Investment Banking Pitch Book | 40 slides",
  "authorId": "td-securities",
  "authorName": "TD Securities",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2022-06-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.294673,
  "pageNumber": 4,
  "pageCount": 40,
  "prevPage": 3,
  "nextPage": 5,
  "slideType": "appendix_disclosure",
  "function": "front_matter",
  "density": "balanced",
  "nDataPoints": 0,
  "notes": "Standard legal disclaimer for a preliminary valuation report.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de073-0e3e-718f-a619-12ed5a3bf0bd/4",
  "deckHref": "/decks/019de073-0e3e-718f-a619-12ed5a3bf0bd",
  "deckJsonHref": "/decks/019de073-0e3e-718f-a619-12ed5a3bf0bd.json",
  "deckAnchorHref": "/decks/019de073-0e3e-718f-a619-12ed5a3bf0bd#slide-4",
  "components": [
    {
      "bbox": {
        "h": 0.15,
        "w": 0.88,
        "x": 0.06,
        "y": 0.685
      },
      "kind": "disclaimer",
      "text": "The following presentation represents a preliminary report to the Special Committee. The analysis is incomplete and the preliminary indications of value presented in this report are for discussion purposes only and should not be construed as an opinion as to the value of Turquoise Hill, the Turquoise Hill Common Shares or the fairness of the Transaction.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3d916b5e-d595-4b58-ad3f-9cb39f504ae4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.7,
        "x": 0.148,
        "y": 0.25
      },
      "kind": "list",
      "text": "The Special Committee of the Board of Directors (\"Special Committee\") of Turquoise Hill Resources Ltd. (\"Turquoise Hill\", \"TRQ\", or the \"Company\") has engaged TD Securities Inc. (\"TD Securities\") to act as independent valuator in connection with the non-binding proposal dated March 13, 2022 (the \"Proposal\") received from Rio Tinto International Holdings Ltd. (\"RTIHL\" and together with its affiliates, \"Rio Tinto\" or \"Rio\") to acquire all of the outstanding common shares of Turquoise Hill (the \"Turquoise Hill Common Shares\") not held by Rio Tinto, referred to herein as the \"Transaction\". TD Securities has been asked to prepare the following preliminary analysis of the value of the Turquoise Hill Common Shares. This presentation summarizes the analysis undertaken by TD Securities to date",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "66562b55-aa12-44a5-ba12-e6c67b45c491",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.15,
        "x": 0.82,
        "y": 0.03
      },
      "kind": "other",
      "text": "DRAFT as of 27-Jun-2022 Strictly Confidential For Discussion Purposes Only",
      "attrs": null,
      "subkind": "unclassified",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9d4b78a9-10c6-458a-9332-661b413f8190",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.25,
        "x": 0.148,
        "y": 0.095
      },
      "kind": "title",
      "text": "TD Securities' Mandate",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ae994da7-7870-4908-82ea-7720086b0944",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Authority Bias",
      "slug": "authority-bias",
      "agent": "Storyteller",
      "layer": "slide",
      "matchId": "019debe5-42ed-769c-bd43-bd89e2afe7cc",
      "evidence": "Cites MI 61-101 mandate and independent-valuator role for credibility.",
      "confidence": 75
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 6,
      "from": 3,
      "beatId": "019debe5-400e-769a-a06b-1716a7016174",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Situation & Context",
      "beatSlug": null,
      "evidence": "Transaction Overview divider, mandate, capitalization & 10-yr share price.",
      "position": 1,
      "confidence": 82,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [
    {
      "to": 6,
      "from": 4,
      "name": "Zoom In",
      "slug": "06-zoom-in",
      "bestFor": "Technical deep-dives, case studies, detailed analysis",
      "matchId": "019debe5-4158-74c6-baee-dbf211b1ff46",
      "evidence": "Mandate → relationships → capitalization summary zooms from role into the specific transaction parameters.",
      "position": 1,
      "objective": "Set up the deal: TD's mandate, relationships, and TRQ's capitalization context",
      "structure": "The Big Picture -> Key Area of Focus -> Specific Detail -> Implication",
      "confidence": 70,
      "description": "Start broad, then progressively focus on specific details that prove your point"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}