 The current system methodology will continue to apply with some modifications. And the first modification is that the maximum annual increase limits will no longer apply in 2020. So this is the 30% maximum annual increase limits that currently apply in the system. These will not apply in 2020. Secondly, the floor rates of the current system will be increased by 20%. And finally, there will be a tax harmonization in 2020 at the level of who won cap rates, increased by 5% compared to the who won cap rates in 2019. That takes me into the second period of time, which is the years 2021 to 2025. And this is where we're going to talk about the self-declared system as well. The methodology is the self-declared system. And very importantly, we recognize this is an opt-in. So countries can choose to determine whether they wish to partake in this particular system or not. The proposed data implementation of the self-declared system for all member countries, other than those who are wishing to access the dual speed provision, will be the first of January 2021. The proposals also provide an opportunity for member countries who meet certain criteria to be able to accelerate the implementation of self-declared rates if they choose to do so. And the main criteria is now, if you have inbound mail volumes in excess of 75,000 tons in 2018, you may accelerate the implementation of self-declared rates, which means that you would also be exempt from the transition provisions that would apply to everyone else. Importantly, if you choose to exercise this right to accelerate your self-declared rates, it would be done on a reciprocal basis. Two other things to take note of in relation to the dual speed accelerated implementation. Firstly, designated operator invoking this particular right, wherever possible, is required to make available to the sending designated operator in a non-discriminatory way any discounts for volume and regionals which are available in the receiving countries domestic service. This again is to encourage appropriate pricing in recognition of pre-processing efficiencies. And finally, should you hit the 75,000-ton threshold and if you choose to exercise this right, what is also required of you is a, what's referred to as an accelerated implementation contribution of 40 million US dollars, which will go towards the union funds, of which 16 million will be to secure the postal security of our network and 24 million in long-term liabilities that may exist on the books of the union. I will keep going through all the different parameters to indicate where we ended up to optionally in terms of agreed solutions. The next is ceiling rates, calculated on the basis of 11 terms of priority, single-piece domestic items. And these effectively act as a ceiling in that should you choose to self-repair, your self-repair rates cannot be higher than those ceiling rates. And the way in which we go about determining these ceiling rates will depend on a number of business rules which are also articulated in the development proposals in terms of changes, and so on. Very importantly, there is a cost-to-tariff ratio of 7 cent. This is a baseline cost-to-tariff ratio of 7 cent. And there is, and this was something that was greatly debated and we ended up with a very good compromise, there was agreement to also provide for what's referred to as a cost-to-tariff escalator, basically an adjustment mechanism that allows countries that invoke the accelerated self-deployment system to also be able to adjust the cost-to-tariff ratios by 100 cent on an annual basis, but capped up to a maximum of 8 cent. Now, all of this is of course subject to, it being validated by the competent authority of the particular desiccator that has coding on the designated operator, and with relevant information and evidence also provided to the international viewer. Finally, on cap rates, we will no longer have cap rates from the 2021 onwards of the self-deployment system. Parameters, on an item-to-kilogram ratio, there was an instance of agreement that in the first game of 2020, it should be 44.5 per cent, but from 2021 onwards, it would be within a parameter of plus or minus 5 per cent annual adjustment. The next one, maximum annual revenue increases, this was very highly debated and it took us a long time to get to a very acceptable compromise and just, again, recalling the fact that in 2020, there will be a harmonisation of the cap rates and the level of group 1 cap rates increased by 5 per cent, and then the maximum annual revenue increase limits will kick in. From 2021, it will be at 15 per cent, at 2022, 15 per cent, 2023, 16 per cent, 2024, 16 per cent, and finally, at 2025, 17 per cent. Well, this means, cumulatively, across the six years, from 2020 to 2025, you will see a maximum annual revenue increase limit of 119 per cent per group 1, 148 per cent per group 2, and 164 per cent per group 3. The next parameter was chlorates and this too was discussed considerably and there was a genuine move within the House to try and address the concerns of, particularly, groups 2 and 3 countries and clearly there was a shift towards that. We landed with a 20 per cent increase from 2020 with an agreement on 5 per cent annual increases between 2021 and 2025. Now, these chlorates will apply to all flows whether you're subject to subject categories or not. And this is my last slide, Mr. Chairman. There's also some very good discussions about the applicable thresholds that should apply in relation to group 2 and group 3 target system countries as well as group 4 countries in the transitional system and again, there was a clear concern in trying to address the problem of the number of countries in these groups. For group 2 and group 3 countries in terms of their flows to group 1 target system countries, any of these flows below 25 tons, these will not be subject to subject categories. Likewise, in the case of flows from, sorry, those two from and between countries in group 4, flows below 100 tons, will not be subject to subject categories. So there's a fair amount of attention built into this package to meet the concerns of countries in both group 2 and group 3 and, of course, group 4 in the transition system. Finally, very importantly, and as a response to concerns raised by many member countries of the impacts, the likely impacts of our 100-ton threshold for group 4 countries on email and the arbitrage opportunities that we've created was part of the agreement that there should be a proposal to change the convention Article 2810 in relation to the definitions of parking in order to allow us to deal with any email consequences. Now, this proposal, as you have seen it originally as a medical conference was a proposal from Switzerland in various other countries, a package of option B and therefore the package we approved today by Congress it will therefore be a critical element of the agreed drafts. So Mr. Chairman, just to conclude again, we have made available online all of the proposals that give effect to what you've seen on the slides and to repeat the numbers again we'll see them in the proposal 2020.30.01 2020.28.4 Option B 2020.29.6 Option B 2020.30.8 Option B Thank you Mr Chairman.