Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My WebLink
About
TY Lin Constr Mgmt Services - Dune Palms Bridge Project 2011-05
, ,' *'% * ' . '$.//# *)/- /$)" -/4 ) *- ( /4+ *! "- ( )//* 3 0/ $) '0 $)" )4 # )" *- -.*- ( ) ( )/. ) /# /4+ *!. -1$ ./* +-*1$ & .0- /*'$./ )4- ' / -*% /* ) -*% / ( 444 444 444 +* %( *. *% - +* * ) ( # $* )) +&%$ DDFCJ986M=HMCIB7=@CB4444444444444444444444444444444444444444444 =HM %5B5;9FUG G=;B=B; 5IH<CF=HM DFCJ=898 IB89F H<9 =HMUG (IF7<5G=B; (C@=7\ 2*9GC@IH=CB&C 3:CF6I8;9H9LD9B8=HIF9GC: CF@9GG 9D5FHA9BH =F97HCFUG CF %5B5;9FUG G=;B=B; 5IH<CF=HM DFCJ=898 IB89FH<9=HMUG (IF7<5G=B;(C@=7M2*9GC@IH=CB&C 3:CF6I8;9H9LD9B8=HIF9GC: 5B8 F9GD97H=J9@MCF@9GG (%+( # $* * %*) ++'4 444 =8 444 * ( 444 * ) 444 KF=HH9B=B:CFA5@6=8G 444 +C@9+CIF79 444 +9@97H+CIF79 444 CCD9F5H=J9(FC7IF9A9BH '+ )* $ &(*# $*) "" !$** * * #) "%,)&&(%&( * 444 ;F99A9BHD5MA9BHK=@@697<5F;98HC%+$*%444444444444444444444 444 ;F99A9BHH9FA +H5FH 5H94444444444444444 B8 5H9 4444444444444444 444 ACIBHC:;F99A9BHA9B8A9BH<5B;9'F89F9H7 44444444444444444444 $")$)" 0/#*-$/$ .'$./ *1 - ++'$ ' *)/# "- ( )/ (*0)/ )*/$) $1$ 0 '( ) ( )/.*-# )" - -. 444 !BGIF5B7979FH=:=75H9G5GF9EI=F986MH<9;F99A9BH:CF*=G?%5B5;9F5DDFCJ5@ DDFCJ986M444444444444444444444444444444 5H9444444444444444 444 CB8G 5GF9EI=F986MH<9;F99A9BH(9F:CFA5B79(5MA9BH9H7 444 CB:@=7HC:!BH9F9GH CFA +H5H9A9BHC: 7CBCA=7!BH9F9GHG:FCACBGI@H5BHG 1$ 2/# 5*-( $. '*.0- !*-*).0'/ )/.6"0$ ) /* / -($) $! *-( $. - ,0$- +0-.0 )/- "0' /$*) 444 IG=B9GG$=79BG9&C 444444444444444444 LD=F9G444444444444444444 444 *9EI=G=H=CB:CF5(IF7<5G9'F89F<5G699BDF9D5F98;F99A9BHGCJ9F ")36)0&)4 21 ' -//)1 -6; %1%+)4 7/-) -+12+1% %1%+)0)16 1%/;56 +4))0)16 *24 2164%'6 ")48-')5 9-6, #$ -1 62 3428-() 215647'6-21 %1%+)0)16 153)'6-21 %1( #)56-1+ ")48-')5 *24 6,) 71) %/05 4-(+) 42.)'6 ✔ 75-1)55 3+5 %66%',)( ✔ ✔ # ✔ ✔ ✔ %74-) '-1/); ✔ ✔ , !+ * % &, '*'&,*,+ *.! +H<9S;F99A9BHT=GA589 5B89BH9F98=BHC6M5B869HK99BH<9!,1' $)-!&,S=HMT55@=:CFB=5 AIB=7=D5@7CFDCF5H=CB5B8,1$=B!BH9FB5H=CB5@CFDCF5H=CBSCBHF57H=B; (5FHMT ,<9D5FH=9G<9F9HC5;F995G:C@@CKG + *.! +' '&,*,!& (*,1 +7CD9C:+9FJ=79G !B7CAD@=5B79K=H<5@@H9FAG5B87CB8=H=CBGC: H<=G ;F99A9BH CBHF57H=B; (5FHM G<5@@ DFCJ=89 H<CG9 G9FJ=79GF9@5H98 HC CBGHFI7H=CB%5B5;9A9BH!BGD97H=CB%5H9F=5@,9GH=B;5B8+IFJ9M+9FJ=79G :CF H<9 IB9 (5@AG *C58 F=8;9 (FC>97H 989F5@ (FC>97H &C *#$+ =HM(FC>97H&C 5GGD97=:=98=BH<9S+7CD9C:+9FJ=79GT 5HH57<98<9F9HC5GS L<=6=HT5B8=B7CFDCF5H98<9F9=B6MH<=GF9:9F9B79H<9 S+9FJ=79GT CBHF57H=B;(5FHMF9DF9G9BHG5B8K5FF5BHGH<5HCBHF57H=B;(5FHM =G 5 DFCJ=89F C: :=FGH 7@5GG KCF? 5B8 CF G9FJ=79G 5B8 CBHF57H=B;(5FHM=G 9LD9F=9B798=BD9F:CFA=B;H<9+9FJ=79G7CBH9AD@5H98<9F9=B5B8=B@=;<HC: GI7<GH5HIG5B89LD9F=9B79CBHF57H=B;(5FHM7CJ9B5BHGH<5H=HG<5@@:C@@CK =B8IGHFMGH5B85F8G=BD9F:CFA=B;H<9+9FJ=79GF9EI=F98<9F9IB89F5B8H<5H 5@@A5H9F=5@G=:5BMK=@@69C:;CC8EI5@=HM:=H:CFH<9DIFDCG9=BH9B898 CF DIFDCG9GC:H<=G;F99A9BHH<9D<F5G9S=B8IGHFMGH5B85F8GTG<5@@A95BH<CG9 GH5B85F8GC:DF57H=79F97C;B=N986MCB9CFACF9:=FGH 7@5GG:=FAGD9F:CFA=B; G=A=@5FG9FJ=79GIB89FG=A=@5F7=F7IAGH5B79G CAD@=5B79K=H<$5K @@+9FJ=79GF9B89F98<9F9IB89FG<5@@69 DFCJ=898 =B 577CF85B79 K=H< 5@@ CF8=B5B79G F9GC@IH=CBG GH5HIH9G FI@9G F9;I@5H=CBG5B8@5KGC:H<9=HM5B85BM 989F5@+H5H9CF@C75@;CJ9FBA9BH5@ 5;9B7MC:7CAD9H9BH>IF=G8=7H=CB /5;95B8 CIFCAD@=5B79CBHF57H=B;(5FHMG<5@@7CAD@MK=H< 5DD@=756@9 989F5@+H5H95B8@C75@K5;95B8<CIF@5KG $=79BG9G(9FA=HG 99G5B8GG9GGA9BHG L79DH5GCH<9FK=G9 GD97=:=98<9F9=BCBHF57H=B;(5FHMG<5@@C6H5=B5H=HGGC@97CGH5B89LD9BG9 GI7< @=79BG9G D9FA=HG 5B8 5DDFCJ5@G 5G A5M 69 F9EI=F98 6M @5K:CFH<9 D9F:CFA5B79C:H<9+9FJ=79GF9EI=F986MH<=G;F99A9BH=B7@I8=B;5=HMC: $5)I=BH56IG=B9GG@=79BG9 CBHF57H=B;(5FHM5B8=HG9AD@CM99G5;9BHG5B8 GI67CBHF57HCFGG<5@@5HH<9=FGC@97CGH5B89LD9BG9?99D=B9::97H5H5@@H=A9G 8IF=B;H<9H9FAC:H<=G;F99A9BH5BM@=79BG9GD9FA=HG5B85DDFCJ5@GH<5H 5F9 @9;5@@M F9EI=F98 :CF H<9 D9F:CFA5B79 C: H<9 +9FJ=79G F9EI=F98 6M H<=G ;F99A9BH CBHF57H=B;(5FHMG<5@@<5J9H<9GC@9C6@=;5H=CBHCD5M:CF5BM :99G5GG9GGA9BHG5B8H5L9GD@IG5DD@=756@9D9B5@H=9G5B8=BH9F9GHK<=7< A5M69=ADCG986M@5K5B85F=G9:FCACF5F9B979GG5FM:CFH<9D9F:CFA5B79 C:H<9+9FJ=79GF9EI=F986MH<=G;F99A9BH5B8G<5@@=B89AB=:M89:9B8K=H< 7CIBG9@ G9@97H98 6M =HM 5B8 <C@8 =HM =HG 9@97H98 C::=7=5@G C::=79FG 9AD@CM99G 5B8 5;9BHG :F99 5B8 <5FA@9GG 5;5=BGH 5BM GI7< :99G 5GG9GGA9BHG H5L9G D9B5@H=9G CF =BH9F9GH @9J=98 5GG9GG98 CF=ADCG98 5;5=BGH=HM<9F9IB89F CBHF57H=B;(5FHMG<5@@69F9GDCBG=6@9:CF5@@ GI67CBHF57HCFGU7CAD@=5B79K=H<H<=G+97H=CB 5A=@=5F=HMK=H</CF? M9L97IH=B;H<=G;F99A9BHCBHF57H=B; (5FHM K5FF5BHG H<5H 5=H <5G H<CFCI;<@M =BJ9GH=;5H98 5B8 7CBG=89F98 H<9 +9FJ=79GHC69D9F:CFA986=H<5G=BJ9GH=;5H98H<9G=H9K<9F9H<9+9FJ=79G 5F9HC69D9F:CFA98=:5BM5B8:I@@M57EI5=BH98=HG9@:K=H<H<97CB8=H=CBG H<9F9 9L=GH=B; 7=H <5G 75F9:I@@M 7CBG=89F98 <CK H<9 +9FJ=79G G<CI@8 69 D9F:CFA98 5B8 8=H :I@@M IB89FGH5B8G H<9 :57=@=H=9G 8=::=7I@H=9G 5B8 F9GHF=7H=CBG5HH9B8=B;D9F:CFA5B79C:H<9+9FJ=79GIB89FH<=G;F99A9BH +<CI@8CBHF57H=B;(5FHM8=G7CJ9F5BM@5H9BHCFIB?BCKB7CB8=H=CBGA5H9F=5@@M 8=::9F=B; :FCA H<CG9 =B<9F9BH =B H<9 +9FJ=79G CF 5G F9DF9G9BH986M=HM CBHF57H=B;(5FHM G<5@@ =AA98=5H9@M=B:CFA=HMC:GI7<:57H5B8G<5@@BCH DFC7998 9L79DH 5H CBHF57H=B; (5FHMUG F=G? IBH=@ KF=HH9B =BGHFI7H=CBG 5F9 F979=J98 :FCA H<9 CBHF57H '::=79F CF5GG=;B9889G=;B995G89:=B98=B +97H=CB <9F9C: +H5B85F8 C: 5F9 CBHF57H=B; (5FHM 57?BCK@98;9G 5B8 IB89FGH5B8GH<5HH<9+9FJ=79G7CBHF57H98:CFIB89FH<=G;F99A9BHF9EI=F9 GD97=5@=N98G?=@@G5B856=@=H=9G5B8H<5H7CBG=GH9BHK=H<H<=GIB89FGH5B8=B; CBHF57H=B;(5FHMUGKCF?K=@@69<9@8HC5B=B8IGHFMGH5B85F8C:EI5@=HM5B8 KCF?A5BG<=D CBG=GH9BH K=H< +97H=CB <9F9=B56CJ9 CBHF57H=B;(5FHM F9DF9G9BHGHC=HMH<5H=H<C@8GH<9B979GG5FMG?=@@G5B856=@=H=9GHCG5H=G:MH<9 =B8IGHFMGH5B85F8C:EI5@=HM5GG9H:CFH<=BH<=G;F99A9BH CBHF57H=B;(5FHM G<5@@58CDHF95GCB56@9A9H<C8G8IF=B;H<9@=:9C:H<=G;F99A9BHHC:IFB=G< 7CBH=BICIGDFCH97H=CBHCH<9+9FJ=79GD9F:CFA986MCBHF57H=B;(5FHM5B8H<9 9EI=DA9BHA5H9F=5@GD5D9FG5B8CH<9F7CADCB9BHGH<9F9C:HCDF9J9BH@CGG9G CF85A5;9G5B8G<5@@69F9GDCBG=6@9:CF5@@GI7<85A5;9GHCD9FGCBGCF DFCD9FHM IBH=@ 5779DH5B79 C: H<9 +9FJ=79G 6M =HM 9L79DH GI7< @CGG9G CF 85A5;9G5GA5M6975IG986M=HMUGCKBB9;@=;9B79 ,<9D9F:CFA5B79C: +9FJ=79G6MCBHF57H=B;(5FHMG<5@@BCHF9@=9J9CBHF57H=B;(5FHM:FCA5BM C6@=;5H=CB HC 7CFF97H 5BM =B7CAD@9H9 =B577IF5H9 CF 89:97H=J9KCF? 5H BC :IFH<9F 7CGH HC =HM K<9B GI7< =B577IF57=9G 5F9 8I9 HC H<9 B9;@=;9B79 C: CBHF57H=B;(5FHM 88=H=CB5@+9FJ=79G !B577CF85B79K=H<H<9H9FAG5B87CB8=H=CBG C:H<=G;F99A9BHCBHF57H=B;(5FHMG<5@@D9F:CFAG9FJ=79G=B588=H=CB HC H<CG9GD97=:=98=BH<9+7CD9C:+9FJ=79GS88=H=CB5@+9FJ=79GTCB@MK<9B 8=F97H98HC8CGC6MH<9CBHF57H'::=79FCF5GG=;B9889G=;B99DFCJ=898 H<5HCBHF57H=B;(5FHMG<5@@BCH69F9EI=F98HCD9F:CFA5BM88 =H=CB5@+9FJ=79G K=H<CIH7CAD9BG5H=CB CBHF57H=B;(5FHMG<5@@BCHD9F:CFA5BM88=H=CB5@ +9FJ=79GIBH=@F979=J=B;DF=CFKF=HH9B5IH<CF=N5H=CB=BH<9:CFAC:5KF=HH9B 7<5B;9CF89F=:CBHF57H=B;(5FHM=G57CBHF57HCFD9F:CFA=B;H<9+9FJ=79G:FCA H<9 CBHF57H '::=79FCF 5GG=;B98 89G=;B99=B7CFDCF5H=B;H<9F9=B5BM 58>IGHA9BH =B =H<9 CBHF57H +IA 5B8 CF ==H<9 H=A9 HC D9F:CFA H<=G ;F99A9BHK<=7<G5=858>IGHA9BHG5F9GI6>97HHCH<9KF=HH9B5DDFCJ5@C: CBHF57H=B;(5FHM !H=G9LDF9GG@MIB89FGHCC86MCBHF57H=B;(5FHMH<5HH<9 DFCJ=G=CBGC:H<=G+97H=CBG<5@@BCH5DD@MHCH<9+9FJ=79GGD97=:=75@@MG9H:CFH< =BH<9+7CD9C:+9FJ=79GCFF95GCB56@M7CBH9AD@5H98H<9F9=B !H=GGD97=:=75@@M IB89FGHCC8 5B8 5;F998 H<5H CF5@ F9EI9GHG 5B8 CF 5DDFCJ5@G C: 88=H=CB5@ +9FJ=79GG<5@@6965FF985B85F9IB9B:CF7956@9 5=@IF9C:CBHF57H=B;(5FHM HCG97IF9H<9CBHF57H'::=79FUGCF5GG=;B9889G=;B99UGKF=HH9B5IH<CF=N5H=CB :CF88=H=CB5@+9FJ=79GG<5@@7CBGH=HIH95K5=J9FC:5BM5B85@@ F=;<H HC 58>IGHA9BHC:H<9CBHF57H+IACFH=A9HCD9F:CFAH<=G;F99A9BHK<9H<9F 6M K5M C: 7CAD9BG5H=CB F9GH=HIH=CB EI5BHIA A9FI=H CF H<9 @=?9 :CF 88=H=CB5@+9FJ=79GDFCJ=898K=H<CIHH<95DDFCDF=5H95IH<CF=N5H=CB:FCAH<9 CBHF57H '::=79FCF 5GG=;B98 89G=;B99 CAD9BG5H=CB :CF DFCD9F@M 5IH<CF=N9888=H=CB5@+9FJ=79GG<5@@69A589=B577CF85B79K=H<+97H=CB C:H<=G;F99A9BH +D97=5@ *9EI=F9A9BHG 88=H=CB5@ H9FAG 5B8 7CB8=H=CBG C: H<=G ;F99A9BH=:5BMK<=7<5F9A5895D5FH<9F9C:5F9G9H:CFH<=BS L<=6=H T H<9S+D97=5@*9EI=F9A9BHGTK<=7<=G=B7CFDCF5H98<9F9=B6MH<=GF9:9F9B79 5B89LDF9GG@MA5895D5FH<9F9C: !BH<99J9BHC:57CB:@=7H69HK99BH<9 DFCJ=G=CBG C: H<9 +D97=5@ *9EI=F9A9BHG 5B8 5BM CH<9F DFCJ=G=CBGC:H<=G ;F99A9BHH<9DFCJ=G=CBGC:H<9+D97=5@*9EI=F9A9BHGG<5@@;CJ9FB '%( &+,!'& CBHF57H +IA CF H<9 +9FJ=79G F9B89F98 DIFGI5BH HC H<=G ;F99A9BHCBHF57H=B;(5FHMG<5@@697CAD9BG5H9865G98CB57HI5@7CGHD@IG 5:=L98:99=B577CF85B79K=H<S L<=6=HTH<9S+7<98I@9C:CAD9BG5H=CBT ,<9 HCH5@ 5ACIBH D5M56@9 6M =HM =B7@I8=B; H<9 =L98 99 5G DFCJ=898 =B +97H=CB G<5@@ BCH 9L79987ZR 0LOOLRQ 6HYHQ +XQGUHG DQG 6L[W\ 7KRXVDQG 7KUHH +XQGUHG 7ZHQW\(LJKW 'ROODUV DQG )LIW\(LJKW &HQWV H<9 SCBHF57H +IAT 9L79DH 5G DFCJ=898 =B +97H=CB ,<9 =HMK=@@F9=A6IFG9CBHF57H=B;(5FHM:CF57HI5@7CGHG=B7@I8=B; @56CF7CGHG9AD@CM9969B9:=HG HF5J9@ 9EI=DA9BH F9BH5@ 7CGHG CJ9F<958 5B8 CH<9F 8=F97H 7CGHG =B7IFF986MCBHF57H=B;(5FHM=BD9F:CFA5B79C:H<9 KCF? CBHF57H=B;(5FHMK=@@BCH69F9=A6IFG98:CF57HI5@7CGHGH<5H9L7998 H<9 9GH=A5H98 K5;9 F5H9G 9AD@CM99 69B9:=HG HF5J9@ 9EI=DA9BHF9BH5@ CJ9F<958 5B8 CH<9F 9GH=A5H98 7CGHG G9H :CFH< =B H<9 +7<98I@9 C: CAD9BG5H=CB9L79DH5GDFCJ=898=B+97H=CB !BBC9J9BHK=@@CBHF57H=B; (5FHM 69 F9=A6IFG98 :CF CJ9F<958 7CGHG 5H 5 F5H9 H<5H 9L7998G =HMUG 5DDFCJ98 CJ9F<958 F5H9 G9H :CFH< =B H<9 +7<98I@9 C: CAD9BG5H=CB ,<9 CBHF57H+IAG<5@@=B7@I89H<95HH9B85B79C:CBHF57H=B; (5FHM 5H 5@@ DFC>97H A99H=B;G F95GCB56@M 899A98 B979GG5FM 6M =HM CBHF57H=B; (5FHM G<5@@ BCH 69 9BH=H@98 HC 5BM 588=H=CB5@ 7CAD9BG5H=CB :CF 5HH9B8=B; G5=8 A99H=B;G CAD9BG5H=CB A5M =B7@I89 F9=A6IFG9A9BH :CF 57HI5@ 5B8 B979GG5FM 9LD9B8=HIF9G :CF F9DFC8I7H=CB 7CGHG HF5BGDCFH5H=CB 9LD9BG9H9@9D<CB99LD9BG95B8G=A=@5F7CGHG5B89LD9BG9GK<9B5B8=: GD97=:=98 =B H<9 +7<98I@9 C: CAD9BG5H=CB CBHF57H=B; (5FHMUGCJ9F5@@ 7CAD9BG5H=CB G<5@@ BCH 9L7998 H<9 CBHF57H +IA 9L79DH 5G DFCJ=898 =B +97H=CB C:H<=G;F99A9BH @@CK56@9 CGHG ,<9 =B8=F97H 7CGH F5H9 9GH56@=G<98 :CF H<=G ;F99A9BH =G 9LH9B898 H<FCI;< H<9 8IF5H=CB C: H<=G GD97=:=7 ;F99A9BH CBHF57H=B;(5FHMUG5;F99A9BHHCH<99LH9BG=CBC:H<9 M95F5DD@=756@9D9F=C8 G<5@@ BCH 69 5 7CB8=H=CB CF EI5@=:=75H=CB HC 69 7CBG=89F98 :CFH<9 KCF? CF ;F99A9BH5K5F8 *9=A6IFG9A9BH:CFHF5BGDCFH5H=CB5B8GI6G=GH9B797CGHG G<5@@BCH9L7998H<9F5H9GGD97=:=98=BH<9+7<98I@9C:CAD9BG5H=CB /<9B A=@9GHCB97CGH9GH=A5H9G5F9=B7@I898=BH<9+7<98I@9C:CAD9BG5H=CB CBHF57H=B;(5FHMG<5@@C6H5=BDF=CFKF=HH9B5DDFCJ5@:CF5F9J=G98A=@9GHCB9 7CGH9GH=A5H9:FCAH<9CBHF57H'::=79F69:CF99L7998=B;GI7<7CGH9GH=A5H9 +5@5FM=B7F95G9GK=@@69F9=A6IFG56@9=:H<9B9KG5@5FM=GK=H<=BH<9G5@5FM F5B;9=89BH=:=98=BH<9+7<98I@9C:CAD9BG5H=CB5B8=G5DDFCJ986M=HMUG CBHF57H'::=79F CFD9FGCBB9@GI6>97HHCDF9J5=@=B;K5;9F5H9G5G89G7F=698 =BH<95@=:CFB=5$56CFC895@@G5@5FM=B7F95G9GK<=7<5F9H<98=F97HF9GI@H C:7<5B;9G=BH<9DF9J5=@=B;K5;9F5H9G5F9F9=A6IFG56@9 !B588=H=CBHCH<9 5@@CK56@9=B7IFF987CGHG=HMK=@@D5MCBHF57H=B;(5FHM5:=L98:99C:'B9 IB8F98,<=FH99B,<CIG5B8 =;<H IB8F98+9J9BHM,KC C@@5FG5B8+9J9BHM +9J9B9BHG H<9S =L98 99T ,<9 =L98 99=GBCB58>IGH56@9 :CFH<9H9FAC:H<9;F99A9BH9L79DH5GDFCJ=898:CF=B+97H=CB %9H<C8C:=@@=B;(5MA9BH (FC;F9GGD5MA9BHGK=@@69A589 ACBH<@M=B5FF95FG65G98CBG9FJ=79GDFCJ=8985B85@@CK56@9=B7IFF987CGHG DFCF5H5DCFH=CBC:H<9 =L98 99K=@@69=B7@I898=BH<9ACBH<@MDFC;F9GG D5MA9BHG BMACBH<=BK<=7<CBHF57H=B;(5FHMK=G<9GHCF979=J9D5MA9BH CBHF57H=B;(5FHMG<5@@GI6A=HHC=HMBC@5H9FH<5BH<9H9BH< H<KCF?=B; 85MC:GI7<ACBH<=BH<9:CFA5DDFCJ986M=HMUG =B5B79 =F97HCF5B=BJC=79 :CF+9FJ=79GF9B89F98DF=CFHCH<985H9C:H<9=BJC=79 !BJC=79G G<5@@ 69 GI6A=HH98BC@5H9FH<5BH<=FHM 75@9B85F85MG5:H9FH<9D9F:CFA5B79C: KCF?:CFK<=7<CBHF57H=B;(5FHM=G6=@@=B; !BJC=79GG<5@@89H5=@H<9KCF? D9F:CFA98CB957<A=@9GHCB95B8957<DFC>97H5G5DD@=756@9 !BJC=79GG<5@@ :C@@CK H<9 :CFA5H GH=DI@5H98 =B H<9 +7<98I@9 C: CAD9BG5H=CB 5B8 G<5@@ F9:9F9B79 H<=G ;F99A9BH BIA69F CF =HM DFC>97H BIA69F :CF K<=7< H<=G ;F99A9BH5DD@=9G5B8DFC>97HH=H@9 !BJC=79GG<5@@7CBH5=B579FH=:=75H=CB6M 5 DF=B7=D5@ A9A69F C: CBHF57H=B; (5FHM GD97=:M=B; H<5H H<9 D5MA9BH F9EI9GH98 =G :CF +9FJ=79G D9F:CFA98 =B 577CF85B79 K=H< H<9 H9FAG C: H<=G ;F99A9BH -DCB5DDFCJ5@=BKF=H=B;6MH<9CBHF57H'::=79FCF5GG=;B98 89G=;B99 5B8 GI6>97H HC F9H9BH=CB DIFGI5BH HC +97H=CB =HM K=@@ D5M CBHF57H=B;(5FHM:CF5@@=H9AGGH5H98H<9F9CBK<=7<5F95DDFCJ986M=HM DIFGI5BHHCH<=G;F99A9BHBC@5H9FH<5BH<=FHM 85MG5:H9F=BJC=79G5F9 F979=J986MH<9=HMUG =B5B79 9D5FHA9BH !:CBHF57H=B;(5FHM:5=@GHCGI6A=H H<9F9EI=F9889@=J9F56@9=H9AG577CF8=B;HCH<9G7<98I@9G9H:CFH<=B+97H=CB =HMG<5@@<5J9H<9F=;<HHC89@5MD5MA9BHCFH9FA=B5H9H<=G;F99A9BH &CD5MA9BHK=@@69A589DF=CFHC5DDFCJ5@C:5BMKCF?BCF:CF5BMKCF? D9F:CFA98DF=CFHC5DDFCJ5@C:H<=G;F99A9BH ,<9:=B5@=BJC=79AIGH7CBH5=B H<9:=B5@7CGH5B85@@7F98=HG8I9=HM=B7@I8=B;5BM9EI=DA9BHDIF7<5G98IB89F H<9DFCJ=G=CBGC:+97H=CB L79DH5GDFCJ=898:CF+97H=CB H<9:=B5@ =BJC=79G<CI@869GI6A=HH98K=H<=BG=LHM 75@9B85F85MG5:H9F7CAD@9H=CB C:CBHF57H=B;(5FHMUGKCF? CAD9BG5H=CB :CF 88=H=CB5@ +9FJ=79G 88=H=CB5@ +9FJ=79G 5DDFCJ98=B58J5B796MH<9CBHF57H'::=79FCF5GG=;B9889G=;B99DIFGI5BH HC+97H=CB C:H<=G;F99A9BHG<5@@69D5=8:CF=B5B5ACIBH5;F998HC=B KF=H=B;6M6CH<=HM5B8CBHF57H=B;(5FHM=B58J5B79C:H<988=H=CB5@ +9FJ=79G 69=B; F9B89F98 6M CBHF57H=B; (5FHM BM 7CAD9BG5H=CB:CF 88=H=CB5@+9FJ=79G5ACIBH=B;HC:=J9D9F79BHCF@9GGC:H<9CBHF57H +IAA5M695DDFCJ986MH<9CBHF57H'::=79FCF5GG=;B9889G=;B99 BM ;F95H9F5ACIBHC:7CAD9BG5H=CB:CF88=H=CB5@+9FJ=79GAIGH695DDFCJ986M H<9 $5 )I=BH5 =HM CIB7=@ H<9 =HM %5B5;9F CF 9D5FHA9BH =F97HCF 89D9B8=B;IDCB=HM@5KGF9;I@5H=CBGFI@9G5B8DFC798IF9G7CB79FB=B;DI6@=7 7CBHF57H=B; -B89F BC 7=F7IAGH5B79G G<5@@ CBHF57H=B; (5FHM F979=J9 7CAD9BG5H=CB:CF5BM88=H=CB5@+9FJ=79GIB@9GGDF=CFKF=HH9B5DDFCJ5@:CFH<9 88=H=CB5@ +9FJ=79G =G C6H5=B98 :FCA H<9 CBHF57H '::=79FCF 5GG=;B98 89G=;B99DIFGI5BHHC+97H=CB C:H<=G;F99A9BH ( * '*%& + -$ ,=A9C: GG9B79 ,=A9=GC:H<99GG9B79=BH<9D9F:CFA5B79C: H<=G ;F99A9BH !: H<9 +9FJ=79G BCH 7CAD@9H98 =B 577CF85B79 K=H< H<9 +7<98I@9C:(9F:CFA5B795GG9H:CFH<=B+97H=CB 5B8S L<=6=HT=H=G IB89FGHCC8H<5HH<9=HMK=@@GI::9F85A5;9 +7<98I@9C:(9F:CFA5B79 @@+9FJ=79GF9B89F98DIFGI5BHHCH<=G ;F99A9BH G<5@@ 69 D9F:CFA98 8=@=;9BH@M 5B8 K=H<=B H<9 H=A9 D9F=C8 9GH56@=G<98=BS L<=6=HTH<9S+7<98I@9C:(9F:CFA5B79T LH9BG=CBGHCH<9 H=A9D9F=C8GD97=:=98=BH<9+7<98I@9C:(9F:CFA5B79A5M695DDFCJ98=B KF=H=B;6MH<9CBHF57H'::=79FCF5GG=;B9889G=;B99 CF79 %5>9IF9 ,<9 H=A9 D9F=C8 GD97=:=98 =B H<9 +7<98I@9 C: (9F:CFA5B79 :CF D9F:CFA5B79 C: H<9 +9FJ=79G F9B89F98 DIFGI5BH HC H<=G ;F99A9BHG<5@@699LH9B8986975IG9C:5BM89@5MG8I9HCIB:CF9G9956@9 75IG9G69MCB8H<97CBHFC@5B8K=H<CIHH<9:5I@HCFB9;@=;9B79C:CBHF57H=B; (5FHM=B7@I8=B;6IHBCHF9GHF=7H98HC57HGC: C8CFC:H<9DI6@=79B9AM :=F9G 95FH<EI5?9G :@CC8G 9D=89A=7 EI5F5BH=B9 F9GHF=7H=CBGF=CHG GHF=?9G :F9=;<H9A65F;C9G57HGC:5BM;CJ9FBA9BH5@5;9B7MCH<9FH<5B=HM5B8 IBIGI5@@MG9J9F9K95H<9F=:CBHF57H=B;(5FHMG<5@@K=H<=BH9B 85MGC: H<97CAA9B79A9BHC:GI7<89@5MBCH=:MH<9CBHF57H'::=79FCF5GG=;B98 89G=;B99=BKF=H=B;C:H<975IG9GC:H<989@5M ,<9CBHF57H'::=79FCF 5GG=;B9889G=;B99G<5@@5G79FH5=BH<9:57HG5B8H<99LH9BHC:89@5M5B8 9LH9B8H<9H=A9:CFD9F:CFA=B;H<9+9FJ=79G:CFH<9D9F=C8C:H<9:CF79889@5M K<9B5B8=:=BH<9CBHF57H'::=79FUG>I8;A9BHGI7<89@5M=G>IGH=:=985B8H<9 CBHF57H'::=79FUG89H9FA=B5H=CBCF5GG=;B9889G=;B99G<5@@69:=B5@5B8 7CB7@IG=J9IDCBH<9D5FH=9GHCH<=G;F99A9BH LH9BG=CBGHCH=A9D9F=C8=B H<9+7<98I@9C:(9F:CFA5B79K<=7<5F989H9FA=B986MH<9CBHF57H'::=79FCF 5GG=;B9889G=;B99HC69>IGH=:=98DIFGI5BHHCH<=G+97H=CBG<5@@BCH9BH=H@9 H<9CBHF57H=B;(5FHMHC588=H=CB5@7CAD9BG5H=CB=B9L79GGC:H<9CBHF57H +IA ,9FA -B@9GG95F@=9FH9FA=B5H98=B577CF85B79K=H<H<9DFCJ=G=CBG =B+97H=CB C:H<=G;F99A9BHH<9H9FAC:H<=G5;F99A9BHG<5@@7CAA9B79 CB-XO\ 7CBH=B;9BH IDCB 5DDFCJ5@ 6M =HM 5B8 CBHF57H=B; (5FHM G<5@@ 7CAA9B79 KCF? 5:H9F BCH=:=75H=CB HC DFC7998 6M =HMUG CBHF57H '::=79F ,<9;F99A9BHG<5@@H9FA=B5H9CB"IB9 IB@9GG9LH9B898 6M5B A9B8A9BH HC H<=G ;F99A9BH CBHF57H=B; (5FHM =G 58J=G98 H<5H 5BM F97CAA9B85H=CB :CF ;F99A9BH 5K5F8 =G BCH 6=B8=B; CB =HM IBH=@ H<9 ;F99A9BH=G:I@@M9L97IH985B85DDFCJ986M=HM ''* !&,!'&' /'*# *9DF9G9BH5H=J9C:CBHF57H=B;(5FHM ,<9:C@@CK=B;DF=B7=D5@GC: CBHF57H=B;(5FHMS(F=B7=D5@GT5F9<9F96M89G=;B5H985G69=B;H<9DF=B7=D5@G 5B8F9DF9G9BH5H=J9GC:CBHF57H=B;(5FHM5IH<CF=N98HC57H=B=HG69<5@:K=H< F9GD97HHCH<9+9FJ=79GGD97=:=98<9F9=B5B8A5?95@@897=G=CBG=B7CBB97H=CB H<9F9K=H< %2&% 3"CG9D<+A=H< ,9@&C A5=@>CG9D< GA=H<HM@=B 7CA !H=G9LDF9GG@MIB89FGHCC8H<5HH<99LD9F=9B79?BCK@98;975D56=@=HM5B8 F9DIH5H=CBC:H<9:CF9;C=B;(F=B7=D5@GK9F95GI6GH5BH=5@=B8I79A9BH:CF=HM HC9BH9F=BHCH<=G;F99A9BH ,<9F9:CF9H<9:CF9;C=B;(F=B7=D5@GG<5@@69 F9GDCBG=6@98IF=B;H<9H9FAC:H<=G;F99A9BH:CF8=F97H=B;5@@57H=J=H=9GC: CBHF57H=B;(5FHM5B889JCH=B;GI::=7=9BHH=A9HCD9FGCB5@@MGID9FJ=G9 H<9 +9FJ=79G<9F9IB89F CFDIFDCG9GC:H<=G;F99A9BHH<9:CF9;C=B;(F=B7=D5@G A5MBCH697<5B;986MCBHF57H=B;(5FHM5B8BCCH<9FD9FGCBB9@A5M69 5GG=;B98 HC D9F:CFA H<9 +9FJ=79G F9EI=F98 <9F9IB89F K=H<CIH H<9 9LDF9GG KF=HH9B5DDFCJ5@C:=HM CBHF57H'::=79F ,<9SCBHF57H'::=79FTCH<9FK=G9?BCKB5G H<9FM5B%7#=BB9M(I6@=7/CF?G =F97HCF =HM B;=B99FCF5GG=;B98 89G=;B99A5M6989G=;B5H98=BKF=H=B;6MH<9=HM%5B5;9FC:H<9=HM !H G<5@@69CBHF57H=B;(5FHMUGF9GDCBG=6=@=HMHC5GGIF9H<5HH<9CBHF57H'::=79F CF5GG=;B9889G=;B99=G?9DH=B:CFA98C:H<9DFC;F9GGC:H<9D9F:CFA5B79 C:H<9+9FJ=79G5B8CBHF57H=B;(5FHMG<5@@F9:9F5BM897=G=CBGH<5HAIGH69 A589 6M =HM HC H<9 CBHF57H '::=79FCF 5GG=;B98 89G=;B99 -B@9GG CH<9FK=G9GD97=:=98<9F9=B5BM5DDFCJ5@C:=HMF9EI=F98<9F9IB89FG<5@@A95B H<95DDFCJ5@C:H<9CBHF57H'::=79FCF5GG=;B9889G=;B99 ,<9CBHF57H '::=79FCF5GG=;B9889G=;B99G<5@@<5J95IH<CF=HMHCG=;B5@@8C7IA9BHGCB 69<5@:C:=HMF9EI=F98<9F9IB89FHC75FFMCIHH<9H9FAGC:H<=G;F99A9BH (FC<=6=H=CB ;5=BGH +I67CBHF57H=B; CF GG=;BA9BH ,<9 9LD9F=9B79?BCK@98;975D56=@=HM5B8F9DIH5H=CBC:CBHF57H=B; (5FHM=HG DF=B7=D5@G5B8=HG9AD@CM99GK9F95GI6GH5BH=5@=B8I79A9BH:CF=HMHC9BH9F =BHCH<=G;F99A9BH L79DH5GG9H:CFH<=BH<=G;F99A9BHCBHF57H=B;(5FHM G<5@@BCH7CBHF57HCFGI67CBHF57HK=H<5BMCH<9F9BH=HMHCD9F:CFA=BK<C@9CF =BD5FHH<9+9FJ=79GF9EI=F98<9F9IB89FK=H<CIHH<99LDF9GGKF=HH9B5DDFCJ5@ C:=HM !B588=H=CBB9=H<9FH<=G;F99A9BHBCF5BM=BH9F9GH<9F9=BA5M69 HF5BG:9FF985GG=;B987CBJ9M98<MDCH<975H98CF9B7IA69F98JC@IBH5F=@MCF 6MCD9F5H=CBC:@5KK=H<CIHH<9DF=CFKF=HH9B5DDFCJ5@C:=HM ,F5BG:9FG F9GHF=7H98 <9F9IB89F G<5@@ =B7@I89 H<9 HF5BG:9F HC 5BM D9FGCB CF ;FCID C: D9FGCBG 57H=B; =B 7CB79FH C: ACF9 H<5B HK9BHM :=J9 D9F79BH C: H<9 DF9G9BHCKB9FG<=D5B8 CF7CBHFC@C:CBHF57H=B;(5FHMH5?=B;5@@HF5BG:9FG=BHC 577CIBHCB57IAI@5H=J965G=G BM5HH9ADH98CFDIFDCFH985GG=;BA9BHCF 7CBHF57H=B; CF GI67CBHF57H=B; 6M CBHF57H=B; (5FHM K=H<CIH =HMUG 9LDF9GG KF=HH9B5DDFCJ5@G<5@@69BI@@JC=85B8C:BC9::97H &C5DDFCJ98HF5BG:9F G<5@@F9@95G9CBHF57H=B;(5FHMC:5BM@=56=@=HM<9F9IB89FK=H<CIHH<99LDF9GG 7CBG9BHC:=HM !B89D9B89BHCBHF57HCF &9=H<9F=HMBCF5BMC:=HG9AD@CM99G G<5@@<5J95BM7CBHFC@CJ9FH<9A5BB9FAC89CFA95BG6MK<=7<CBHF57H=B; (5FHM =HG 5;9BHG CF =HG 9AD@CM99G D9F:CFA H<9 +9FJ=79G F9EI=F98 <9F9=B 9L79DH5GCH<9FK=G9G9H:CFH<<9F9=B =HMG<5@@<5J9BCJC=79=BH<9G9@97H=CB 8=G7<5F;9GID9FJ=G=CBCF7CBHFC@C:CBHF57H=B;(5FHMUG9AD@CM99GG9FJ5BHG F9DF9G9BH5H=J9G CF 5;9BHG CF =B :=L=B; H<9=F BIA69F CF <CIFGC: G9FJ=79 CBHF57H=B;(5FHMG<5@@D9F:CFA5@@+9FJ=79GF9EI=F98<9F9=B5G5B=B89D9B89BH 7CBHF57HCFC:=HM5B8G<5@@F9A5=B5H5@@H=A9G5GHC=HM5K<C@@M=B89D9B89BH 7CBHF57HCF K=H< CB@M GI7< C6@=;5H=CBG 5G 5F9 7CBG=GH9BH K=H< H<5H FC@9 CBHF57H=B;(5FHMG<5@@BCH5H5BMH=A9CF=B5BMA5BB9FF9DF9G9BHH<5H=HCF 5BMC:=HG5;9BHGCF9AD@CM99G5F95;9BHGCF9AD@CM99GC:=HM =HMG<5@@BCH =B5BMK5MCF:CF5BMDIFDCG9697CA9CF69899A98HC695D5FHB9FC: CBHF57H=B;(5FHM=B=HG6IG=B9GGCFCH<9FK=G9CF5>C=BHJ9BHIF9CF5A9A69F C:5BM>C=BH9BH9FDF=G9K=H<CBHF57H=B;(5FHM CBHF57H=B;(5FHMG<5@@<5J9 BCDCK9FHC=B7IF5BM896HC6@=;5H=CBCF@=56=@=HMCB69<5@:C: =HM CBHF57H=B;(5FHMG<5@@BCH5H5BMH=A9CF=B5BMA5BB9FF9DF9G9BHH<5H=HCF 5BMC:=HG5;9BHGCF9AD@CM99G5F95;9BHGCF9AD@CM99GC:=HM L79DH:CF H<9CBHF57H+IAD5=8HCCBHF57H=B;(5FHM5GDFCJ=898=BH<=G;F99A9BH =HMG<5@@BCHD5MG5@5F=9GK5;9GCFCH<9F7CAD9BG5H=CBHCCBHF57H=B;(5FHM :CFD9F:CFA=B;H<9+9FJ=79G<9F9IB89F:CF=HM =HMG<5@@BCH69@=56@9:CF 7CAD9BG5H=CBCF=B89AB=:=75H=CBHCCBHF57H=B;(5FHM:CF=B>IFMCFG=7?B9GG 5F=G=B;CIHC:D9F:CFA=B;H<9+9FJ=79G<9F9IB89F &CHK=H<GH5B8=B;5BMCH<9F =HM GH5H9 CF :989F5@ DC@=7M FI@9 F9;I@5H=CB @5K CF CF8=B5B79 HC H<9 7CBHF5FMCBHF57H=B;(5FHM5B85BMC:=HG9AD@CM99G5;9BHG5B8 GI67CBHF57HCFGDFCJ=8=B;G9FJ=79GIB89FH<=G;F99A9BHG<5@@BCHEI5@=:M:CF CF 697CA9 9BH=H@98 HC 5BM 7CAD9BG5H=CB 69B9:=H CF 5BM =B7=89BH C: 9AD@CMA9BH6M=HM=B7@I8=B;6IHBCH@=A=H98HC9@=;=6=@=HMHC9BFC@@=BH<9 5@=:CFB=5(I6@=7 AD@CM99G*9H=F9A9BH+MGH9AS( *+T5G5B9AD@CM99C: =HM5B89BH=H@9A9BHHC5BM7CBHF=6IH=CBHC69D5=86M=HM:CF9AD@CM9F 7CBHF=6IH=CBG5B8 CF9AD@CM997CBHF=6IH=CBG:CF( *+69B9:=HG CBHF57H=B; (5FHM5;F99GHCD5M5@@F9EI=F98H5L9GCB5ACIBHGD5=8HCCBHF57H=B;(5FHM IB89FH<=G;F99A9BH5B8HC=B89AB=:M5B8<C@8=HM<5FA@9GG:FCA5BM5B8 5@@H5L9G5GG9GGA9BHGD9B5@H=9G5B8=BH9F9GH5GG9FH985;5=BGH=HM6MF95GCB C: H<9 =B89D9B89BH 7CBHF57HCF F9@5H=CBG<=D 7F95H98 6M H<=G ;F99A9BH CBHF57H=B;(5FHMG<5@@:I@@M7CAD@MK=H<H<9KCF?9FGU7CAD9BG5H=CB @5KG F9;5F8=B;CBHF57H=B;(5FHM5B8CBHF57H=B;(5FHMUG9AD@CM99G CBHF57H=B; (5FHM:IFH<9F5;F99GHC=B89AB=:M5B8<C@8=HM<5FA@9GG:FCA5BM:5=@IF9C: CBHF57H=B;(5FHMHC7CAD@MK=H<5DD@=756@9KCF?9FGU7CAD9BG5H=CB@5KG =HM G<5@@<5J9H<9F=;<HHCC::G9H5;5=BGHH<95ACIBHC:5BMD5MA9BH 8I9 HC CBHF57H=B; (5FHM IB89F H<=G ;F99A9BH 5BM 5ACIBH 8I9 HC =HM :FCA CBHF57H=B;(5FHM5G5F9GI@HC:CBHF57H=B;(5FHMUG:5=@IF9HCDFCADH@MD5MHC =HM5BMF9=A6IFG9A9BHCF=B89AB=:=75H=CB5F=G=B;IB89FH<=G+97H=CB !89BH=HMC:(9FGCBG(9F:CFA=B;/CF? CBHF57H=B;(5FHM F9DF9G9BHGH<5H=H9AD@CMGCFK=@@9AD@CM5H=HGCKB9LD9BG95@@D9FGCBB9@ F9EI=F98:CFH<9G5H=G:57HCFMD9F:CFA5B79C:5BM5B85@@C:H<9+9FJ=79GG9H :CFH<<9F9=B CBHF57H=B;(5FHMF9DF9G9BHGH<5HH<9+9FJ=79GF9EI=F98<9F9=B K=@@69D9F:CFA986MCBHF57H=B;(5FHMCFIB89F=HG8=F97HGID9FJ=G=CB5B8 H<5H5@@D9FGCBB9@9B;5;98=BGI7<KCF?G<5@@69:I@@MEI5@=:=985B8G<5@@69 5IH<CF=N985B8D9FA=HH98IB89F5DD@=756@9+H5H95B8@C75@@5KH CD9F:CFAGI7< H5G?G5B8G9FJ=79G =HMCCD9F5H=CB =HMG<5@@DFCJ=89CBHF57H=B;(5FHMK=H<5BM D@5BGDI6@=75H=CBGF9DCFHGGH5H=GH=7GF97CF8GCFCH<9F85H5CF=B:CFA5H=CB D9FH=B9BHHCH<9+9FJ=79GHC69D9F:CFA98<9F9IB89FK<=7<5F9F95GCB56@M 5J5=@56@9HCCBHF57H=B;(5FHMCB@M:FCACFH<FCI;<57H=CB6M=HM !&+-*& !BGIF5B79 (F=CF HC H<9 69;=BB=B; C: 5BM +9FJ=79G IB89F H<=G ;F99A9BH 5B8 H<FCI;<CIH H<9 8IF5H=CB C: H<9 H9FA C: H<=G ;F99A9BH CBHF57H=B;(5FHMG<5@@DFC7IF95B8A5=BH5=B5H=HGGC@97CGH5B89LD9BG9 5B8 GI6A=H 7CB7IFF9BH@M K=H< =HG 9L97IH=CB C: H<=G ;F99A9BH DC@=7=9G C: =BGIF5B795GG9H:CFH<=BS L<=6=H TH<9S!BGIF5B79*9EI=F9A9BHGTK<=7<=G =B7CFDCF5H98<9F9=B6MH<=GF9:9F9B795B89LDF9GG@MA5895D5FH<9F9C: (FCC:C:!BGIF5B79 CBHF57H=B;(5FHMG<5@@DFCJ=899FH=:=75H9C: !BGIF5B79 HC ;9B7M 5@CB; K=H< 5@@ F9EI=F98 9B8CFG9A9BHG 9FH=:=75H9 C: !BGIF5B795B89B8CFG9A9BHGAIGH695DDFCJ986M;9B7MUG*=G?%5B5;9F DF=CFHC7CAA9B79A9BHC:D9F:CFA5B79 !& %&! !,!'& !B89AB=:=75H=CB ,C H<9 :I@@9GH 9LH9BH D9FA=HH98 6M @5K CBHF57H=B;(5FHMG<5@@=B89AB=:MDFCH97H89:9B8K=H<7CIBG9@G9@97H986M =HM 5B8 <C@8 <5FA@9GG =HM 5B8 5BM 5B8 5@@ C: =HG C::=79FG9AD@CM99G 5;9BHG5B8JC@IBH99FG5GG9H:CFH<=BS L<=6=H TS!B89AB=:=75H=CBTK<=7<=G =B7CFDCF5H98<9F9=B6MH<=GF9:9F9B795B89LDF9GG@MA5895D5FH<9F9C: * '* +& * ('*,+ *9DCFHG CBHF57H=B;(5FHMG<5@@D9F=C8=75@@MDF9D5F95B8GI6A=H HC H<9 CBHF57H '::=79FCF5GG=;B98 89G=;B99 GI7< F9DCFHG 7CB79FB=B; CBHF57H=B;(5FHMUGD9F:CFA5B79C:H<9+9FJ=79GF9EI=F986MH<=G;F99A9BH 5GH<9CBHF57H'::=79FCF5GG=;B9889G=;B99G<5@@F9EI=F9 CBHF57H=B; (5FHMUG(FC>97H%5B5;9FG<5@@A99HK=H<=HM5GB979GG5FMHC8=G7IGGDFC;F9GG CBH<9;F99A9BH CBHF57H=B;(5FHM<9F96M57?BCK@98;9GH<5H=HM=G;F95H@M 7CB79FB9856CIHH<97CGHC:H<9+9FJ=79GHC69D9F:CFA98DIFGI5BHHCH<=G ;F99A9BH CFH<=GF95GCBCBHF57H=B;(5FHM5;F99GH<5H=:CBHF57H=B;(5FHM 697CA9G5K5F9C:5BM:57HG7=F7IAGH5B79GH97<B=EI9GCF9J9BHGH<5HA5M CFK=@@A5H9F=5@@M=B7F95G9CF897F95G9H<97CGHC:H<9+9FJ=79G7CBH9AD@5H98 <9F9=BCF=:CBHF57H=B;(5FHM=GDFCJ=8=B;89G=;BG9FJ=79GH<97CGHC:H<9 DFC>97H69=B;89G=;B98CBHF57H=B;(5FHMG<5@@DFCADH@MBCH=:MH<9CBHF57H '::=79FCF5GG=;B9889G=;B99C:G5=8:57H7=F7IAGH5B79H97<B=EI9CF9J9BH 5B8 H<9 9GH=A5H98 =B7F95G98 CF 897F95G98 7CGH F9@5H98 H<9F9HC 5B8 =: CBHF57H=B; (5FHM =G DFCJ=8=B; 89G=;B G9FJ=79G H<9 9GH=A5H98 =B7F95G98 CF 897F95G987CGH9GH=A5H9:CFH<9DFC>97H69=B;89G=;B98 *97CF8G CBHF57H=B; (5FHM G<5@@ ?99D 5B8 F9EI=F9 5BM GI67CBHF57HCFGHC?99DGI7<@98;9FG6CC?GC:577CIBHG=BJC=79GJCI7<9FG 75B79@987<97?GF9DCFHG=B7@I8=B;6IHBCH@=A=H98HCD5MFC@@F9DCFHGGHI8=9G !B89D9B89BH(I8=H98!B8=F97HCGH*5H9KCF?D5D9FGCFCH<9F8C7IA9BHG F9@5H=B;HCH<98=G6IFG9A9BHG7<5F;98HC=HM5B8H<9+9FJ=79GD9F:CFA98 <9F9IB89FH<9SCC?G5B8*97CF8GT5GG<5@@69B979GG5FMHCD9F:CFAH<9 +9FJ=79G F9EI=F98 6M H<=G ;F99A9BH 5B8 9B56@9 H<9 CBHF57H '::=79FCF 5GG=;B9889G=;B99HC9J5@I5H9H<9D9F:CFA5B79C:GI7<+9FJ=79G BM5B8 5@@ GI7< CC?G 5B8 *97CF8G =B7@I8=B; H<CG9 C: H<9 CBHF57H=B;(5FHMUG !B89D9B89BH(G<5@@69A5=BH5=B98=B577CF85B79K=H<;9B9F5@@M5779DH98 577CIBH=B; DF=B7=D@9G 5B8 G<5@@ 69 7CAD@9H9 5B8 89H5=@98 ,<9CBHF57H '::=79F5@HF5BGI8=HCF /CF5BM8I@M5IH<CF=N98F9DF9G9BH5H=J9C:H<9 989F5@ ;CJ9FBA9BH <5J=B; >IF=G8=7H=CB IB89F 989F5@ @5KG CF F9;I@5H=CBG =B7@I8=B; H<9 65G=G C: 989F5@ IB8=B; =B K<C@9 CF =B D5FHCF5GG=;B98 89G=;B99G<5@@<5J9:I@@5B8:F995779GGHCGI7<CC?G5B8*97CF8G5H5@@ H=A9G8IF=B;BCFA5@6IG=B9GG<CIFGC:=HM=B7@I8=B;H<9F=;<HHC=BGD97H 7CDM5I8=H5B8A5?9F97CF8G5B8HF5BG7F=DHG:FCAGI7<CC?G5B8*97CF8G +I7<CC?G5B8*97CF8GG<5@@69A5=BH5=B98:CF5D9F=C8C:H<F99M95FG :C@@CK=B;7CAD@9H=CBC:H<9+9FJ=79G<9F9IB89F5B8=HMG<5@@<5J95779GGHC GI7<CC?G5B8*97CF8G=BH<99J9BH5BM5I8=H9L5A=B5H=CBKCF?D5D9F F9J=9K9L79FDHCFHF5BG57H=CB=GF9EI=F98 !BH<99J9BHC:8=GGC@IH=CBC: CBHF57H=B;(5FHMUG6IG=B9GG7IGHC8MC:H<9CC?G5B8*97CF8GA5M69;=J9B HC =HM 5B8 5779GG G<5@@ 69 DFCJ=898 6M CBHF57H=B; (5FHMUG GI779GGCF =B =BH9F9GH -B89F5@=:CFB=5 CJ9FBA9BHC89+97H=CB =:H<95ACIBHC: DI6@=7:IB8G9LD9B898IB89FH<=G;F99A9BH9L7998G,9B,<CIG5B8 C@@5FG H<=G;F99A9BHG<5@@69GI6>97HHCH<99L5A=B5H=CB5B85I8=H C:H<9+H5H9I8=HCF5HH<9F9EI9GHC:=HMCF5GD5FHC:5BM5I8=HC:=HM:CF 5D9F=C8C:H<F99M95FG5:H9F:=B5@D5MA9BHIB89FH<=G;F99A9BH 'KB9FG<=DC: C7IA9BHG @@8F5K=B;G GD97=:=75H=CBG A5DG 89G=;BGD<CHC;F5D<GGHI8=9GGIFJ9MG85H5BCH9G7CADIH9F:=@9GF9DCFHG F97CF8G 8C7IA9BHG 5B8 CH<9F A5H9F=5@G D@5BG 8F5K=B;G 9GH=A5H9G H9GH 85H5GIFJ9MF9GI@HGAC89@GF9B89F=B;G5B8CH<9F8C7IA9BHGCFKCF?GC: 5IH<CFG<=D :=L98 =B 5BM H5B;=6@9 A98=IA C: 9LDF9GG=CB =B7@I8=B; 6IH BCH @=A=H98 HC D<MG=75@ 8F5K=B;G 8=;=H5@ F9B89F=B;G CF 85H5 GHCF98 8=;=H5@@M A5;B9H=75@@MCF=B5BMCH<9FA98=IADF9D5F98CF75IG98HC69DF9D5F986M CBHF57H=B; (5FHM =HG 9AD@CM99G GI67CBHF57HCFG 5B8 5;9BHG =BH<9 D9F:CFA5B79C:H<=G;F99A9BHH<9S C7IA9BHG5B8%5H9F=5@GTG<5@@69H<9 DFCD9FHMC:=HM5B8G<5@@6989@=J9F98HC=HMIDCBF9EI9GHC:H<9CBHF57H '::=79FCF5GG=;B9889G=;B99CFIDCBH<99LD=F5H=CBCFH9FA=B5H=CBC:H<=G ;F99A9BH5B8CBHF57H=B;(5FHMG<5@@<5J9BC7@5=A:CF:IFH<9F9AD@CMA9BH CF588=H=CB5@7CAD9BG5H=CB5G5F9GI@HC:H<99L9F7=G96M=HMC:=HG:I@@F=;<HG C: CKB9FG<=D IG9 F9IG9 CF 5GG=;BA9BH C: H<9 C7IA9BHG 5B8 %5H9F=5@G <9F9IB89F BMIG9F9IG9CF5GG=;BA9BHC:GI7<7CAD@9H98 C7IA9BHG5B8 %5H9F=5@G:CFCH<9FDFC>97HG5B8 CFIG9C:IB7CAD@9H988C7IA9BHGK=H<CIH GD97=:=7KF=HH9B5IH<CF=N5H=CB6MCBHF57H=B;(5FHMK=@@695H=HMUGGC@9F=G? 5B8K=H<CIH@=56=@=HMHCCBHF57H=B;(5FHM5B8CBHF57H=B;(5FHMUG;I5F5BH99 5B8 K5FF5BH=9G G<5@@ BCH 9LH9B8 HC GI7< IG9 F9J=G9 CF 5GG=;BA9BH CBHF57H=B;(5FHMA5MF9H5=B7CD=9GC:GI7< C7IA9BHG5B8%5H9F=5@G:CF=HG CKB IG9 CBHF57H=B; (5FHM G<5@@ <5J9 5B IBF9GHF=7H98 F=;<H HCIG9H<9 7CB79DHG9A6C8=98H<9F9=B @@GI67CBHF57HCFGG<5@@DFCJ=89:CF5GG=;BA9BH HC=HMC:5BM C7IA9BHG5B8%5H9F=5@GDF9D5F986MH<9A5B8=BH<99J9BH CBHF57H=B; (5FHM :5=@G HC G97IF9 GI7< 5GG=;BA9BH CBHF57H=B;(5FHM G<5@@ =B89AB=:M=HM:CF5@@85A5;9GF9GI@H=B;H<9F9:FCA !BH<99J9BH=HMCF5BMD9FGCB:=FACF7CFDCF5H=CB5IH<CF=N98 6M=HMF9IG9GG5=8 C7IA9BHG5B8%5H9F=5@GK=H<CIHKF=HH9BJ9F=:=75H=CBCF 585DH5H=CB6MCBHF57H=B;(5FHM:CFH<9GD97=:=7DIFDCG9=BH9B8985B875IG9G HC 69 A589 CF A5?9G 5BM 7<5B;9G CF 5@H9F5H=CBG =B G5=8 C7IA9BHG 5B8 %5H9F=5@G=HM<9F96MF9@95G9G8=G7<5F;9G5B89LCB9F5H9GCBHF57H=B;(5FHM :FCA@=56=@=HMF9GI@H=B;:FCAG5=87<5B;9 ,<9DFCJ=G=CBGC:H<=G7@5IG9G<5@@ GIFJ=J9H<9H9FA=B5H=CBCF9LD=F5H=CBC:H<=G;F99A9BH5B8G<5@@H<9F95:H9F F9A5=B=B:I@@:CF795B89::97H !BH<99J9BHC:,9FA=B5H=CBIB89F+97H=CB =AA98=5H9@MIDCB H9FA=B5H=CB=HMG<5@@699BH=H@98HC5B8CBHF57H=B;(5FHMG<5@@89@=J9FHC =HM F9DCFHG =BJ9GH=;5H=CBG 5DDF5=G5@G =BJ9BHCF=9G GHI8=9G 5B5@MG9G 8F5K=B;G5B885H59GH=A5H9GD9F:CFA98HCH<5H85H9K<9H<9F7CAD@9H98CF BCH5B8CH<9FGI7<A5H9F=5@G5GA5M<5J9699BDF9D5F98CF577IAI@5H98HC 85H9 6M CBHF57H=B; (5FHM =B D9F:CFA=B; H<=G ;F99A9BH K<=7< =GBCH CBHF57H=B;(5FHMUGDF=J=@9;98=B:CFA5H=CB5G89:=B986M@5KCFCBHF57H=B; (5FHMUG D9FGCBB9@ =B:CFA5H=CB 5@CB; K=H< 5@@ CH<9F DFCD9FHM 69@CB;=B; 9L7@IG=J9@MHC=HMK<=7<=G=BCBHF57H=B;(5FHMUGDCGG9GG=CB $=79BG=B;C:!BH9@@97HI5@(FCD9FHM ,<=G;F99A9BH7F95H9G5BCB 9L7@IG=J9 5B8 D9FD9HI5@ @=79BG9 :CF =HM HC 7CDM IG9 AC8=:MF9IG9 CF GI6@=79BG95BM5B85@@7CDMF=;<HG89G=;BGF=;<HGC:F9DFC8I7H=CB5B8CH<9F =BH9@@97HI5@DFCD9FHM9A6C8=98=BH<9 C7IA9BHG5B8%5H9F=5@G CBHF57H=B; (5FHMG<5@@F9EI=F95@@GI67CBHF57HCFG=:5BMHC5;F99=BKF=H=B;H<5H=HM=G ;F5BH98 5 BCB 9L7@IG=J9 5B8 D9FD9HI5@ @=79BG9 :CF H<9 C7IA9BHG5B8 %5H9F=5@GH<9GI67CBHF57HCFDF9D5F9GIB89FH<=G;F99A9BH CBHF57H=B;(5FHM F9DF9G9BHG5B8K5FF5BHGH<5HCBHF57H=B;(5FHM<5GH<9@9;5@F=;<HHC@=79BG9 5BM5B85@@C:H<9 C7IA9BHG5B8%5H9F=5@G CBHF57H=B;(5FHMA5?9GBCGI7< F9DF9G9BH5H=CB5B8K5FF5BHM=BF9;5F8HCH<9 C7IA9BHG5B8%5H9F=5@GK<=7< K9F9 DF9D5F98 6M 89G=;B DFC:9GG=CB5@G CH<9F H<5B CBHF57H=B; (5FHM CF DFCJ=898HCCBHF57H=B;(5FHM6M=HM =HMG<5@@BCH69@=A=H98=B5BMK5M=B =HGIG9C:H<9 C7IA9BHG5B8%5H9F=5@G5H5BMH=A9DFCJ=898H<5H5BMGI7< IG9BCHK=H<=BH<9DIFDCG9G=BH9B8986MH<=G;F99A9BHG<5@@695H=HMUGGC@9 F=G? (I6@=75H=CBC:H<9=B:CFA5H=CB89F=J98:FCAKCF?D9F:CFA98CF85H5 C6H5=B98=B7CBB97H=CBK=H<G9FJ=79GF9B89F98IB89FH<=G;F99A9BHAIGH69 5DDFCJ98=BKF=H=B;6M=HM 88=H=CB5@@M=H=G5;F998H<5HH<9(5FH=9G=BH9B8 H<=GHC695B;F99A9BH:CFG9FJ=79G5B8957<7CBG=89FGH<9DFC8I7HG5B8 F9GI@HGC:H<9G9FJ=79GHC69F9B89F986MCBHF57H=B;(5FHM<9F9IB89FHC69 KCF?A589:CF<=F9 CBHF57H=B;(5FHM57?BCK@98;9G5B85;F99GH<5HH<9KCF? 5B85@@F=;<HGH<9F9=B=B7@I8=B;K=H<CIH@=A=H5H=CB7CDMF=;<H69@CB;GHC5B8 G<5@@69H<9GC@95B89L7@IG=J9DFCD9FHMC:=HMK=H<CIHF9GHF=7H=CBCF@=A=H5H=CB IDCB=HGIG9CF8=GG9A=B5H=CB6M=HM *9@95G9C: C7IA9BHG ,<9 C7IA9BHG5B8%5H9F=5@GG<5@@BCH 69 F9@95G98DI6@=7@MK=H<CIHH<9DF=CFKF=HH9B5DDFCJ5@C:H<9CBHF57H'::=79FCF 5GG=;B98 89G=;B99CF5GF9EI=F986M@5K CBHF57H=B;(5FHMG<5@@BCH 8=G7@CG9HC5BMCH<9F9BH=HMCFD9FGCB5BM=B:CFA5H=CBF9;5F8=B;H<957H=J=H=9G C:=HM9L79DH5GF9EI=F986M@5KCF5G5IH<CF=N986M=HM CB:=89BH=5@ CF (9FGCB5@ !89BH=:M=B; !B:CFA5H=CB CBHF57H=B; (5FHM7CJ9B5BHGH<5H5@@=HM85H585H5@=GHGHF589G97F9HG8C7IA9BHGK=H< D9FGCB5@=89BH=:M=B;=B:CFA5H=CB8C7IA9BHGH<5H5F9BCHDI6@=7F97CF8G8F5:H 8C7IA9BHG 8=G7IGG=CB BCH9G CF CH<9F =B:CFA5H=CB =: 5BM 89J9@CD98 CF F979=J986MCBHF57H=B;(5FHMCFDFCJ=898:CFD9F:CFA5B79C:H<=G;F99A9BH 5F9899A987CB:=89BH=5@5B8G<5@@BCH698=G7@CG986MCBHF57H=B;(5FHMHC5BM D9FGCBCF9BH=HMK=H<CIHDF=CFKF=HH9B5IH<CF=N5H=CB6M=HMCFIB@9GGF9EI=F98 6M@5K =HMG<5@@;F5BH5IH<CF=N5H=CB:CF8=G7@CGIF9=:F9EI=F986M5BM@5K:I@ 58A=B=GHF5H=J9CF@9;5@DFC7998=B;7CIFHCF89FCFG=A=@5F8=F97H=J9K=H<H<9 :CF79C:@5K (9FA=GG=CBHC8=G7@CG9=B:CFA5H=CBCBCB9C775G=CBCFDI6@=7 <95F=B;<9@86M=HMF9@5H=B;HCH<9;F99A9BHG<5@@BCH5IH<C F=N9CBHF57H=B; (5FHMHC:IFH<9F8=G7@CG9GI7<=B:CFA5H=CBCF8=GG9A=B5H9H<9G5A9CB5BM CH<9FC775G=CB CBHF57H=B;(5FHMG<5@@BCH7CAA9BHDI6@=7@MHCH<9DF9GGCF 5BM CH<9F A98=5 F9;5F8=B; H<9 ;F99A9BH CF =HMUG 57H=CBG CB H<9 G5A9 9L79DH HC =HMUG GH5:: CBHF57H=B; (5FHMUG CKB D9FGCBB9@ =BJC@J98 =B H<9 D9F:CFA5B79C:H<=G;F99A9BH5HDI6@=7<95F=B;GCF=BF9GDCBG9HCEI9GH=CBG :FCA5$9;=G@5H=J97CAA=HH99 CBHF57H=B;(5FHMG<5@@BCH=GGI95BMB9KG F9@95G9CFDI6@=7F9@5H=CBG=H9AC:5BMB5HIF9K<5HGC9J9FF9;5F8=B;KCF? D9F:CFA98CFHC69D9F:CFA98IB89FH<=G;F99A9BHK=H<CIHDF=CFF9J=9KC: H<97CBH9BHGH<9F9C:6M=HM5B8F979=DHC:=HMUGKF=HH9BD9FA=GG=CB @@=HM 85H5 85H5 @=GHG HF589 G97F9HG 8C7IA9BHG K=H< D9FGCB5@ =89BH=:M=B; =B:CFA5H=CB 8C7IA9BHG H<5H 5F9 BCH DI6@=7 F97CF8G 8F5:H 8C7IA9BHG 8=G7IGG=CBG CF CH<9F =B:CFA5H=CB G<5@@ 69 F9HIFB98 HC =HM IDCB H<9 H9FA=B5H=CBCF9LD=F5H=CBC:H<=G;F99A9BH CBHF57H=B;(5FHMUG7CJ9B5BH IB89F H<=G G97H=CB G<5@@ GIFJ=J9 H<9 H9FA=B5H=CB CF 9LD=F5H=CBC: H<=G ;F99A9BH & '* % &,' * % &, 5@=:CFB=5$5K ,<=G;F99A9BHG<5@@69=BH9FDF9H987CBGHFI98 5B8 ;CJ9FB98 6CH< 5G HC J5@=8=HM 5B8 HC D9F:CFA5B79 C: H<9 D5FH=9G =B 577CF85B79K=H<H<9@5KGC:H<9+H5H9C:5@=:CFB=5 $9;5@57H=CBG7CB79FB=B; 5BM8=GDIH97@5=ACFA5HH9F5F=G=B;CIHC:CF=BF9@5H=CBHCH<=G;F99A9BH G<5@@69=BGH=HIH98=BH<9+ID9F=CFCIFHC:H<9CIBHMC:*=J9FG=89+H5H9C: 5@=:CFB=5CF5BMCH<9F5DDFCDF=5H97CIFH=BGI7<7CIBHM5B8CBHF57H=B; (5FHM7CJ9B5BHG5B85;F99GHCGI6A=HHCH<9D9FGCB5@>IF=G8=7H=CBC:GI7<7CIFH =BH<99J9BHC:GI7<57H=CB =GDIH9G !B H<9 9J9BH C: 5BM 8=GDIH9 5F=G=B; IB89F H<=G ;F99A9BHH<9=B>IF98D5FHMG<5@@BCH=:MH<9=B>IF=B;D5FHM=BKF=H=B;C:=HG 7CBH9BH=CBG6MGI6A=HH=B;57@5=AH<9F9:CF9 (F=CFHC9=H<9FD5FHM7CAA9B7=B; 5BM@9;5@57H=CBIB89FH<=G;F99A9BHH<9D5FH=9G5;F99HCHFM=B;CC8:5=H< HCG9HH@95BM8=GDIH95A=756@M69HK99BH<9A !:58=GDIH9<5GBCH699BG9HH@98 5:H9F:CFHM :=J985MGC:;CC8 :5=H<B9;CH=5H=CBG5B85GA5M69CH<9FK=G9 DFCJ=898<9F9=BH<9B9=H<9FD5FHMA5M7CAA9B79@9;5@57H=CB5;5=BGHH<9 CH<9F ,<9=B>IF98D5FHMG<5@@7CBH=BI9D9F:CFA=B;=HGC6@=;5H=CBG<9F9IB89F GC @CB; 5G H<9 =B>IF=B; D5FHM 7CAA9B79G HC 7IF9 GI7< 89:5I@H K=H<=B H9B 85MGC:G9FJ=79C:GI7<BCH=795B87CAD@9H9GH<97IF9C:GI7<89:5I@H K=H<=B:CFHM :=J985MG5:H9FG9FJ=79C:H<9BCH=79CFGI7<@CB;9FD9F=C85G A5M69D9FA=HH986MH<9CBHF57H'::=79FCF5GG=;B9889G=;B99DFCJ=898 H<5H=:H<989:5I@H=G5B=AA98=5H985B;9FHCH<9<95@H<G5:9HMCF;9B9F5@ K9@:5F9 =HM A5M H5?9 GI7< =AA98=5H9 57H=CB 5G =HM 899AG K5FF5BH98 CAD@=5B79K=H<H<9DFCJ=G=CBGC:H<=G+97H=CBG<5@@6957CB8=H=CBDF97989BH HCH9FA=B5H=CBC:H<=G;F99A9BH:CF75IG95B8HC5BM@9;5@57H=CB5B8GI7< 7CAD@=5B79G<5@@BCH695K5=J9FC:5BMD5FHMUGF=;<HHCH5?9@9;5@57H=CB=BH<9 9J9BHH<5HH<98=GDIH9=GBCH7IF98DFCJ=898H<5HBCH<=B;<9F9=BG<5@@@=A=H =HMUG F=;<H HC H9FA=B5H9 H<=G ;F99A9BH K=H<CIH 75IG9 DIFGI5BHHCH<=G +97H=CB IF=B;H<9D9F=C8C:H=A9H<5HCBHF57H=B;(5FHM=G=B89:5I@H =HMG<5@@<C@85@@=BJC=79G5B8G<5@@K<9BH<989:5I@H=G7IF98DFC7998K=H< D5MA9BHCBH<9=BJC=79G !BH<95@H9FB5H=J9=HMA5M=B=HGGC@98=G7F9H=CB 9@97HHCD5MGCA9CF5@@C:H<9CIHGH5B8=B;=BJC=79G8IF=B;5BMD9F=C8C: 89:5I@H BM8=GDIH9CH<9FH<5B5I8=H7CB79FB=B;5EI9GH=CBC::57H5F=G=B; IB89FH<=G;F99A9BHH<5H=GBCH8=GDCG98C:6M5;F99A9BHG<5@@69897=898 6M57CAA=HH997CBG=GH=B;C:=HMUGCBHF57H'::=79F5B8=HM%5B5;9FCF 5IH<CF=N98 89G=;B99 K<C A5M 7CBG=89F KF=HH9B CF J9F65@ =B:CFA5H=CB GI6A=HH986MCBHF57H=B;(5FHM &CH@5H9FH<5BH<=FHM 75@9B85F85MG5:H9F 7CAD@9H=CBC:5@@KCF?IB89FH<9;F99A9BHCBHF57H=B;(5FHMA5MF9EI9GH F9J=9K6M=HM CJ9FB=B;C5F8C:IBF9GC@J987@5=AGCF8=GDIH9GCH<9FH<5B 5I8=H ,<9F9EI9GH:CFF9J=9KG<5@@69GI6A=HH98=BKF=H=B; &9=H<9F H<9 D9B89B7MC:58=GDIH9BCF=HG7CBG=89F5H=CB6MH<97CAA=HH99K=@@9L7IG9 CBHF57H=B;(5FHM:FCA:I@@5B8H=A9@MD9F:CFA5B79=B577CF85B79K=H<H<9 H9FAGC:H<=G;F99A9BH I8=H =GDIH9GG<5@@697CBG=89F985GDFCJ=898:CF +97H=CB *9H9BH=CBC: IB8G =HMA5MK=H<<C@8:FCA5BMACB=9GD5M56@9 HCCBHF57H=B;(5FHMGI::=7=9BH:IB8GHC7CAD9BG5H9=HM:CF5BM@CGG9G7CGHG @=56=@=H=9GCF85A5;9G=HF95GCB56@M69@=9J9GK9F9GI::9F986M=HM8I9HCH<9 89:5I@HC:CBHF57H=B;(5FHM=BH<9D9F:CFA5B79C:H<9+9FJ=79GF9EI=F986M H<=G;F99A9BH /5=J9F &C89@5MCFCA=GG=CB=BH<99L9F7=G9C:5BMF=;<HCF F9A98MC:5BCB 89:5I@H=B;D5FHMCB5BM89:5I@HG<5@@=AD5=FGI7<F=;<HCF F9A98MCF697CBGHFI985G5K5=J9F =HMUG7CBG9BHCF5DDFCJ5@C:5BM57H6M CBHF57H=B;(5FHMF9EI=F=B;=HMUG7CBG9BHCF5DDFCJ5@G<5@@BCH69899A98HC K5=J9CFF9B89FIBB979GG5FM=HMUG7CBG9BHHCCF5DDFCJ5@C:5BMGI6G9EI9BH 57HC:CBHF57H=B;(5FHM BMK5=J9F6M9=H<9FD5FHMC:5BM89:5I@HAIGH69=B KF=H=B;5B8G<5@@BCH695K5=J9FC:5BMCH<9F89:5I@H7CB79FB=B;H<9G5A9CF 5BMCH<9FDFCJ=G=CBC:H<=G;F99A9BH *=;<HG 5B8 *9A98=9G 5F9 IAI@5H=J9 L79DH K=H< F9GD97H HC F=;<HG5B8F9A98=9G9LDF9GG@M897@5F98HC699L7@IG=J9=BH<=G;F99A9BHH<9 F=;<HG5B8F9A98=9GC:H<9D5FH=9G5F97IAI@5H=J95B8H<99L9F7=G96M9=H<9F D5FHMC:CB9CFACF9C:GI7<F=;<HGCFF9A98=9GG<5@@BCHDF97@ I89H<99L9F7=G9 6M=H5HH<9G5A9CF8=::9F9BHH=A9GC:5BMCH<9FF=;<HGCFF9A98=9G:CFH<9 G5A989:5I@HCF5BMCH<9F89:5I@H6MH<9CH<9FD5FHM $9;5@7H=CB !B588=H=CBHC5BMCH<9FF=;<HGCFF9A98=9G9=H<9F D5FHMA5MH5?9@9;5@57H=CB5H@5KCF5H9EI=HMHC7IF97CFF97HCFF9A98M 5BM 89:5I@H HC F97CJ9F 85A5;9G :CF 5BM 89:5I@H HC 7CAD9@ GD97=:=7 D9F:CFA5B79C:H<=G;F99A9BHHCC6H5=B897@5F5HCFMCF=B>IB7H=J9F9@=9:CF HCC6H5=B5BMCH<9FF9A98M7CBG=GH9BHK=H<H<9DIFDCG9GC:H<=G;F99A9BH ,9FA=B5H=CB(F=CF,C LD=F5H=CBC:,9FA ,<=G+97H=CBG<5@@ ;CJ9FB 5BM H9FA=B5H=CB C: H<=G ;F99A9BH 9L79DH 5G GD97=:=75@@M DFCJ=898 =B H<9 :C@@CK=B;+97H=CB:CFH9FA=B5H=CB:CF75IG9 =HMF9G9FJ9GH<9F=;<HHC H9FA=B5H9H<=G;F99A9BH5H5BMH=A9K=H<CFK=H<CIH75IG9IDCBH<=FHM 85MGUKF=HH9BBCH=79HCCBHF57H=B;(5FHM -DCBF979=DHC:5BMBCH=79C: H9FA=B5H=CBCBHF57H=B;(5FHMG<5@@=AA98=5H9@M795G95@@+9FJ=79G<9F9IB89F 9L79DH GI7< 5G A5M 69 GD97=:=75@@M 5DDFCJ98 6M H<9 CBHF57H '::=79FCF 5GG=;B9889G=;B99 -DCBH9FA=B5H=CB=HMG<5@@699BH=H@98HC5@@KCF? =B7@I8=B;6IHBCH@=A=H98HCF9DCFHG=BJ9GH=;5H=CBG5DDF5=G5@G=BJ9BHCF=9G GHI8=9G 5B5@MG9G 8F5K=B;G 5B8 85H5 9GH=A5H9G D9F:CFA98 HC H<5H 85H9 K<9H<9F7CAD@9H98CFBCH5B8=B577CF85B79K=H<+97H=CB CBHF57H=B; (5FHM G<5@@ 69 9BH=H@98 HC 7CAD9BG5H=CB :CF 5@@ +9FJ=79G F9B89F98DF=CFHC F979=DHC:H<9BCH=79C:H9FA=B5H=CB5B8:CF5BM+9FJ=79G5IH<CF=N986MH<9 CBHF57H'::=79FCF5GG=;B9889G=;B99H<9F95:H9F=B577CF85B79K=H<H<9 +7<98I@9 C: CAD9BG5H=CB CF GI7< 5G A5M 69 5DDFCJ98 6M H<9 CBHF57H '::=79FCF5GG=;B9889G=;B999L79DH5ACIBHG<9@85G5F9H9BH=CBDIFGI5BH HC H<=G ;F99A9BH &CHK=H<GH5B8=B; 5BM DFCJ=G=CBG C: H<=G ;F99A9BH CBHF57H=B;(5FHMG<5@@BCH69F9@=9J98C:@=56=@=HMHC=HM:CF85A5;9GGIGH5=B98 6M=HM6MJ=FHI9C:5BM6F957<C:H<=G;F99A9BH6MCBHF57H=B;(5FHM5B8 =HMA5MK=H<<C@85BMD5MA9BHG8I9HCCBHF57H=B;(5FHMIBH=@GI7<H=A95G H<9 9L57H 5ACIBH C: 85A5;9G =: 5BM 8I9 =HM :FCA CBHF57H=B;(5FHM =G 89H9FA=B98 ,9FA=B5H=CB:CF 9:5I@HC:CBHF57H=B;(5FHM !:H9FA=B5H=C B=G8I9 HCH<9:5=@IF9C:CBHF57H=B;(5FHMHC:I@:=@@=HGC6@=;5H=CBGIB89FH<=G;F99A9BH CBHF57H=B; (5FHM G<5@@ J575H9 5BM =HM CKB98 DFCD9FHM K<=7< CBHF57H=B; (5FHM=GD9FA=HH98HCC77IDM<9F9IB89F5B8=HMA5M5:H9F7CAD@=5B79K=H< H<9DFCJ=G=CBGC:+97H=CB H5?9CJ9FH<9+9FJ=79G5B8DFCG97IH9H<9G5A9 HC7CAD@9H=CB6M7CBHF57HCFCH<9FK=G95B8CBHF57H=B;(5FHMG<5@@69@=56@9 HC H<9 9LH9BH H<5H H<9 HCH5@ 7CGH :CF 7CAD@9H=CB C: H<9 +9FJ=79G F9EI=F98 <9F9IB89F9L7998GH<97CAD9BG5H=CB<9F9=BGH=DI@5H98DFCJ=898H<5H=HM G<5@@IG9F95GCB56@99::CFHGHCA=H=;5H9GI7<85A5;9G5B8=HMA5MK=H<<C@8 5BMD5MA9BHGHCCBHF57H=B;(5FHM:CFH<9DIFDCG9C:G9HC::CFD5FH=5@D5MA9BH C:H<95ACIBHGCK98=HM HHCFB9MGU 99G !:9=H<9FD5FHMHCH<=G;F99A9BH=GF9EI=F98HC =B=H=5H9CF89:9B8CFA5895D5FHMHC5BM57H=CBCFDFC7998=B;=B5BMK5M 7CBB97H98 K=H< H<=G ;F99A9BH H<9 DF9J5=@=B; D5FHM =B GI7< 57H=CB CF DFC7998=B;=B588=H=CBHC5BMCH<9FF9@=9:K<=7<A5M69;F5BH98K<9H<9F @9;5@CF9EI=H56@9G<5@@699BH=H@98HCF95GCB56@95HHCFB9MGU:99GDFCJ=898 <CK9J9FH<5HH<95HHCFB9MGU:99G5K5F898DIFGI5BHHCH<=G+97H=CBG<5@@BCH 9L7998 H<9 <CIF@M F5H9 D5=8 6M =HM :CF @9;5@ G9FJ=79G AI@H=D@=98 6M H<9 F95GCB56@9BIA69FC:<CIFGGD9BH6MH<9DF9J5=@=B;D5FHM=BH<97CB8I7HC: H<9@=H=;5H=CB HHCFB9MGU:99GG<5@@=B7@I895HHCFB9MGU:99GCB5BM5DD95@5B8 =B588=H=CB5D5FHM9BH=H@98HC5HHCFB9MGU:99GG<5@@699BH=H@98HC5@@CH<9F F95GCB56@9 7CGHG :CF =BJ9GH=;5H=B; GI7< 57H=CB H5?=B; 89DCG=H=CBG 5B8 8=G7CJ9FM5B85@@CH<9FB979GG5FM7CGHGH<97CIFH5@@CKGK<=7<5F9=B7IFF98=B GI7< @=H=;5H=CB @@ GI7< :99G G<5@@ 69 899A98 HC <5J9 577FI98CB 7CAA9B79A9BHC:GI7<57H=CB5B8G<5@@699B:CF7956@9K<9H<9FCFBCHGI7< 57H=CB=GDFCG97IH98HC>I8;A9BH ,<97CIFHA5MG9HGI7<:99G=BH<9G5A9 57H=CBCF=B5G9D5F5H957H=CB6FCI;<H:CFH<5HDIFDCG9 +IGD9BG=CBC:/CF? =HMA5MH9ADCF5F=@MGIGD9B8H<=G ;F99A9BH5HBC588=H=CB5@7CGHHC=HMDFCJ=898H<5HCBHF57H=B;(5FHM=G ;=J9BKF=HH9BBCH=7989@=J9F986M79FH=:=98A5=@F9HIFBF979=DHF9EI9GH98C: H9ADCF5FM GIGD9BG=CB !: =HM ;=J9G GI7< BCH=79 C: H9ADCF5FM GIGD9BG=CB CBHF57H=B; (5FHM G<5@@ =AA98=5H9@M GIGD9B8 =HG 57H=J=H=9G IB89F H<=G ;F99A9BH H9ADCF5FMGIGD9BG=CBA5M69=GGI987CB7IFF9BHK=H<H<9BCH=79 C:H9FA=B5H=CBDFCJ=898:CF=BH<=G+97H=CB !,1' ! *+& %($'1 +&'& !+*!%!&,!'& &CB @=56=@=HMC:=HM'::=79FG5B8 AD@CM99G &CC::=79FC::=7=5@ 9AD@CM995;9BHF9DF9G9BH5H=J9CFJC@IBH99FC:=HMG<5@@69D9FGCB5@@M@=56@9 HCCBHF57H=B;(5FHMCF5BMGI779GGCF=B=BH9F9GH=BH<99J9BHCF5BM89:5I@H CF6F957<6M=HMCF:CF5BM5ACIBHK<=7<A5M697CA98I9HCCBHF57H=B; (5FHMCFHC=HGGI779GGCFCF:CF6F957<C:5BMC6@=;5H=CBC:H<9H9FAGC:H<=G ;F99A9BH CB:@=7HC:!BH9F9GH CBHF57H=B;(5FHM7CJ9B5BHGH<5HB9=H<9F=H BCF5BMC::=79FCFDF=B7=D5@C:=H<5GCFG<5@@57EI=F95BM=BH9F9GH8=F97H@MCF =B8=F97H@MK<=7<KCI@87CB:@=7H=B5BMA5BB9FK=H<H<9=BH9F9GHGC:=HMCF K<=7<KCI@8=B5BMK5M<=B89FCBHF57H=B;(5FHMUGD9F:CFA5B79C: H<9 +9FJ=79GIB89FH<=G;F99A9BH CBHF57H=B;(5FHM:IFH<9F7CJ9B5BHGH<5H=B H<9D9F:CFA5B79C:H<=G;F99A9BHBCD9FGCB<5J=B;5BMGI7<=BH9F9GHG<5@@ 699AD@CM986M=H5G5BC::=79F9AD@CM995;9BHCFGI67CBHF57HCFK=H<CIH H<99LDF9GGKF=HH9B7CBG9BHC:H<9CBHF57H'::=79FCF5GG=;B9889G=;B99 CBHF57H=B; (5FHM 5;F99G HC 5H 5@@ H=A9G 5JC=8 7CB:@=7HG C: =BH9F9GH CF H<9 5DD95F5B79 C: 5BM 7CB:@=7HG C: =BH9F9GH K=H< H<9 =BH9F9GHG C: =HM =B H<9 D9F:CFA5B79 C: H<=G ;F99A9BH IF=B; H<9 H9FA C: H<=G ;F99A9BH H<9 CBHF57H=B;(5FHMG<5@@8=G7@CG95BM:=B5B7=5@6IG=B9GGCFCH<9FF9@5H=CBG<=D K=H<=HMH<5HA5M<5J95B=AD57HIDCBH<9CIH7CA9C:H<=G;F99A9BHCF 5BM9BGI=B;=HM7CBGHFI7H=CBDFC>97H ,<9CBHF57H=B;(5FHMG<5@@5@GC@=GH 7IFF9BH7@=9BHGK<CA5M<5J95:=B5B7=5@=BH9F9GH=BH<9CIH7CA9 C: H<=G ;F99A9BHCF5BM9BGI=B;=HM7CBGHFI7H=CBDFC>97HK<=7<K=@@:C@@CK &C C::=79F CF 9AD@CM99 C: =HM G<5@@ <5J9 5BM :=B5B7=5@ =BH9F9GH 8=F97H CF =B8=F97H=BH<=G;F99A9BHBCFG<5@@5BMGI7<C::=79FCF9AD@CM99D5FH=7=D5H9 =B5BM897=G=CBF9@5H=B;HCH<=G;F99A9BHK<=7<9::97HG<=G:=B5B7=5@=BH9F9GH CFH<9:=B5B7=5@=BH9F9GHC:5BM7CFDCF5H=CBD5FHB9FG<=DCF5GGC7=5H=CB=BK<=7< <9=G8=F97H@MCF=B8=F97H@M=BH9F9GH98=BJ=C@5H=CBC:5BM+H5H9GH5HIH9CF F9;I@5H=CB CBHF57H=B;(5FHMK5FF5BHGH<5H=H<5GBCHD5=8CF;=J9B5B8K=@@ BCHD5MCF;=J95BMH<=F8D5FHM5BMACB9MCFCH<9F7CBG=89F5H=CB:CFC6H5=B=B; H<=G;F99A9BH CBHF57H=B;(5FHM79FH=:=9GH<5H=H<5G8=G7@CG98HC=HM5BM57HI5@5DD5F9BH CFDCH9BH=5@7CB:@=7HGC:=BH9F9GHH<5HA5M9L=GHF9@5H=J9HCH<9G9FJ=79GHC69 DFCJ=898DIFGI5BHHCH<=G;F99A9BH CBHF57H=B;(5FHM5;F99GHC58J=G9=HM C:5BM57HI5@5DD5F9BHCFDCH9BH=5@7CB:@=7HGC:=BH9F9GHH<5HA5M89J9@CD GI6G9EI9BH HCH<9 85H9C:9L97IH=CB C:H<=G ;F99A9BH CBHF57H=B; (5FHM :IFH<9F5;F99GHC7CAD@9H95BMGH5H9A9BHGC:97CBCA=7=BH9F9GH=:F9EI=F986M 9=H<9F=HMCF8=B5B79CF+H5H9@5K CJ9B5BHG 5;5=BGH =G7F=A=B5H=CB ,<9 CBHF57H=B; (5FHMUG G=;B5HIF95::=L98<9F9=B5B885H98G<5@@7CBGH=HIH9579FH=:=75H=CBIB89FD9B5@HM C:D9F>IFMIB89FH<9@5KGC:H<9+H5H9C:5@=:CFB=5H<5HH<9CBHF57H=B;(5FHM <5G IB@9GG 9L9ADH 7CAD@=98 K=H< H<9 BCB8=G7F=A=B5H=CB DFC;F5A F9EI=F9A9BHGC: CJ C89Q 5B8*Q IF=B;H<9D9F:CFA5B79C:H<=G;F99A9BHCBHF57H=B;(5FHM5B8=HG GI67CBGI@H5BHGG<5@@BCH89BMH<9;F99A9BHUG69B9:=HGHC5BMD9FGCBCBH<9 65G=G C: F579 F9@=;=CIG 7F998 7C@CF B5H=CB5@ CF=;=B 5B79GHFM D<MG=75@ 8=G56=@=HMA9BH5@8=G56=@=HM A98=75@7CB8=H=CB;9B9H=7=B:CFA5H=CB A5F=H5@ GH5HIGG9L;9B89F;9B89F=89BH=HM;9B89F9LDF9GG=CB5;9G9LI5@ CF=9BH5H=CB CF A=@=H5FM 5B8 J9H9F5B GH5HIG BCF G<5@@ H<9M IB@5K:I@@M 8=G7F=A=B5H9<5F5GGCF5@@CK<5F5GGA9BH5;5=BGH5BM9AD@CM99CF5DD@=75BH :CF 9AD@CMA9BH 6975IG9 C: F579 F9@=;=CIG 7F998 7C@CF B5H=CB5@ CF=;=B 5B79GHFM D<MG=75@ 8=G56=@=HM A9BH5@ 8=G56=@=HM A98=75@ 7CB8=H=CB ;9B9H=7 =B:CFA5H=CBA5F=H5@GH5HIGG9L;9B89F;9B89F=89BH=HM;9B89F9LDF9GG=CB 5;9G9LI5@CF=9BH5H=CBCFA=@=H5FM 5B8J9H9F5BGH5HIG CBHF57H=B;(5FHM5B8 GI67CBGI@H5BHG G<5@@ =BGIF9 H<5H H<9 9J5@I5H=CB 5B8 HF95HA9BH C: H<9=F 9AD@CM99G5B85DD@=75BHG:CF9AD@CMA9BH5F9:F99:FCAGI7<8=G7F=A=B5H=CB 5B8<5F5GGA9BH CBHF57H=B;(5FHM5B8GI67CBGI@H5BHGG<5@@7CAD@MK=H<H<9DFCJ=G=CBGC:H<9 5=F AD@CMA9BH5B8 CIG=B;7H CJ C89Q 9HG9E H<95DD@=756@9 F9;I@5H=CBGDFCAI@;5H98H<9F9IB89F*Q 9HG9E H<9DFCJ=G=CBG C: CJ C89QQ 5B8H<9F9;I@5H=CBGCFGH5B85F8G58CDH986M =HM HC =AD@9A9BH GI7< 5FH=7@9 ,<9 5DD@=756@9 F9;I@5H=CBG C: H<9 5=F AD@CMA9BH5B8 CIG=B;CAA=GG=CB=AD@9A9BH=B; CJ C89Q 5 : G9H :CFH< * QQ 5F9 =B7CFDCF5H98 =BHC H<=G ;F99A9BH 6M F9:9F9B795B8A5895D5FH<9F9C:5G=:G9H:CFH<=B:I@@ CBH F57H=B;(5FHMG<5@@ D9FA=H5779GG6MF9DF9G9BH5H=J9GC:H<9 9D5FHA9BHC: 5=F AD@CMA9BH5B8 CIG=B;5B8H<9=HMIDCBF95GCB56@9BCH=795H5BMH=A98IF=B;H<9BCFA5@ 6IG=B9GG<CIFG6IH=BBC75G9@9GGH<5BHK9BHM :CIF<CIFGUBCH=79HC GI7<C:=HG6CC?GF97CF8G577CIBHG5B85@@CH<9FGCIF79GC:=B:CFA5H=CB5B8 =HG:57=@=H=9G5GG5=8 9D5FHA9BHCF=HMG<5@@F9EI=F9HC5G79FH5=B7CAD@=5B79 K=H<H<=G7@5IG9 CBHF57H=B; (5FHM 5B8 =HG GI67CBGI@H5BHG G<5@@ ;=J9 KF=HH9B BCH=79 C: H<9=F C6@=;5H=CBGIB89FH<=G7@5IG9HC@56CFCF;5B=N5H=CBGK=H<K<=7<H<9M<5J95 7C@@97H=J965F;5=B=B;CFCH<9F;F99A9BH CBHF57H=B; (5FHM G<5@@ =B7@I89 H<9 BCB8=G7F=A=B5H=CB 5B8 7CAD@=5B79 DFCJ=G=CBG C: H<=G 7@5IG9 =B 5@@ GI67CBHF57HG HC D9F:CFA KCF? IB89F H<=G ;F99A9BH ,<9 CBHF57H=B; (5FHM K=H< F9;5F8 HC H<9 KCF? D9F:CFA98 IB89FH<=G ;F99A9BHG<5@@57H=B577CF85B79K=H<,=H@9.!C:H<9=J=@*=;<HG7HC: - + Q 89HG9E ,=H@9.!DFCJ=89GH<5HH<9F97=D=9BHGC::989F5@ 5GG=GH5B79K=@@=AD@9A9BH5B8A5=BH5=B5DC@=7MC:BCB8=G7F=A=B5H=CB=BK<=7< BCD9FGCB=BH<9-B=H98+H5H9GG<5@@CBH<965G=GC:F5797C@CFB5H=CB5@CF=;=B F9@=;=CBG9L5;98=G56=@=HM699L7@I898:FCAD5FH=7=D5H=CB=B89B=98H<9 69B9:=HGC:CFGI6>97HHC8=G7F=A=B5H=CBIB89F5BMDFC;F5ACF57H=J=HM6MH<9 F97=D=9BHGC::989F5@5GG=GH5B79CFH<9=F5GG=;B99G5B8GI779GGCFG=B=BH9F9GH ,<9 CBHF57H=B; (5FHM G<5@@ 7CAD@M K=H< F9;I@5H=CBG F9@5H=J9 HCBCB 8=G7F=A=B5H=CB =B :989F5@@M 5GG=GH98 DFC;F5AG C: H<9 - + 9D5FHA9BH C: ,F5BGDCFH5H=CB *(5FH ::97HI5H=CBC:,=H@9.!C:H<9=J=@*=;<HG7H C: +D97=:=75@@MH<9CBHF57H=B;(5FHMG<5@@BCHD5FH=7=D5H99=H<9F8=F97H@M CF =B8=F97H@M =B H<9 8=G7F=A=B5H=CB DFC<=6=H98 6M * Q =B7@I8=B; 9AD@CMA9BHDF57H=79G5B8H<9G9@97H=CB5B8F9H9BH=CBC:+I67CBGI@H5BHG ,<9CBHF57H=B;(5FHMGI6F97=D=9BHCFGI67CBGI@H5BHK=@@B9J9F9L7@I895BM D9FGCB:FCAD5FH=7=D5H=CB=B89BM5BMD9FGCBH<969B9:=HGC:CFCH<9FK=G9 8=G7F=A=B5H95;5=BGH5BMCB9=B7CBB97H=CBK=H<H<95K5F85B8D9F:CFA5B79C: 5BM7CBHF57H7CJ9F986M *CBH<965G=GC:F5797C@CFG9LCFB5H=CB5@ CF=;=B !B 58A=B=GH9F=B; H<9 =HM 7CADCB9BHG C: H<9 (FC;F5A(@5B CBHF57H=B;(5FHMGI6F97=D=9BHCFGI67CBGI@H5BHK=@@BCH8=F97H@MCFH<FCI;< 7CBHF57HI5@CFCH<9F5FF5B;9A9BHGIG97F=H9F=5CFA9H<C8GC:58A=B=GHF5H=CB H<5H<5J9H<99::97HC:89:95H=B;CFGI6GH5BH=5@@M=AD5=F=B;577CAD@=G<A9BHC: H<9 C6>97H=J9G C: H<9 (FC;F5A (@5B K=H< F9GD97H HC =B8=J=8I5@G C: 5 D5FH=7I@5FF5797C@CFG9LCFB5H=CB5@ CF=;=B ,=H@9.!GGIF5B79GRDD9B8=L IF=B;H<9D9F:CFA5B79C:H<=G;F99A9BHH<97CBHF57HCF:CF=HG9@: =HG 5GG=;B99G5B8GI779GGCFG=B=BH9F9GH<9F9=B5:H9F7C@@97H=J9@MF9:9FF98HC5G CBGI@H5BH5;F99G5G:C@@CKG 5 CAD@=5B79 K=H< *9;I@5H=CBG CBGI@H5BH G<5@@ 7CAD@M K=H< H<9 F9;I@5H=CBGF9@5H=J9HCBCB8=G7F=A=B5H=CB=B:989F5@@M5GG=GH98DFC;F5AG C:H<9 9D5FHA9BHC:,F5BGDCFH5H=CB,=H@9C89C: 989F5@ *9;I@5H=CBG (5FH 5G H<9M A5M 69 5A9B898 :FCA H=A9 HC H=A9 <9F9=B5:H9F F9:9FF98 HC 5G H<9 *9;I@5H=CBG K<=7< 5F9 <9F9=B =B7CFDCF5H986MF9:9F9B795B8A5895D5FHC:H<=G5;F99A9BH 6 &CB8=G7F=A=B5H=CBCBGI@H5BHK=H<F9;5F8HCH<9KCF?D9F:CFA986M=H 8IF=B;H<95;F99A9BHG<5@@BCH8=G7F=A=B5H9CBH<9;FCIB8GC:F579 7C@CFG9LB5H=CB5@CF=;=BF9@=;=CB5;9CF8=G56=@=HM=BH<9G9@97H=CB5B8 F9H9BH=CB C: GI6 5DD@=75BHG =B7@I8=B; DFC7IF9A9BHG C: A5H9F=5@G 5B8 @95G9GC:9EI=DA9BH CBGI@H5BHG<5@@BCHD5FH=7=D5H99=H<9F8=F97H@MCF =B8=F97H@M =B H<9 8=G7F=A=B5H=CB DFC<=6=H98 6M +97H=CB C:H<9 *9;I@5H=CBG =B7@I8=B; 9AD@CMA9BH DF57H=79G K<9B H<9 5;F99A9BH 7CJ9FG5DFC;F5AG9H:CFH<=BDD9B8=LC:H<9*9;I@5H=CBG 7 +C@=7=H5H=CBG:CF+I6 5;F99A9BHG!B7@I8=B;(FC7IF9A9BHGC:%5H9F=5@G 5B8 EI=DA9BH!B5@@GC@=7=H5H=CBG9=H<9F6M7CAD9H=H=J96=88=B; CF B9;CH=5H=CBA5896MCBGI@H5BH:CFKCF?HC69D9F:CFA98IB89F5+I6 5;F99A9BH=B7@I8=B;DFC7IF9A9BHGC:A5H9F=5@GCF@95G9GC:9EI=DA9BH 957<DCH9BH=5@GI6 5DD@=75BHCFGIDD@=9FG<5@@69BCH=:=986MCBGI@H5BH C: H<9 CBGI@H5BHUG C6@=;5H=CBG IB89F H<=G ;F99A9BH 5B8 H<9 *9;I@5H=CBGF9@5H=J9HCBCB8=G7F=A=B5H=CBCBH<9;FCIB8GC:F5797C@CF CFB5H=CB5@CF=;=B 8 !B:CFA5H=CB5B8*9DCFHGCBGI@H5BHG<5@@DFCJ=895@@=B:CFA5H=CB5B8 F9DCFHG F9EI=F98 6M H<9 *9;I@5H=CBG CF 8=F97H=J9G =GGI98 DIFGI5BH H<9F9HC5B8G<5@@D9FA=H5779GGHC=HG6CC?GF97CF8G577CIBHGCH<9F GCIF79GC:=B:CFA5H=CB5B8=HG:57=@=H=9G5GA5M6989H9FA=B986MH<9 F97=D=9BHCF /HC69D9FH=B9BHHC5G79FH5=B7CAD@=5B79K=H<GI7< *9;I@5H=CBGCF8=F97H=J9G /<9F95BM=B:CFA5H=CBF9EI=F98C:CBGI@H5BH =G=BH<99L7@IG=J9DCGG9GG=CBC:5BCH<9FK<C:5=@GCFF9:IG9GHC:IFB=G< H<=G=B:CFA5H=CBCBGI@H5BHG<5@@GC79FH=:MHCH<9F97=D=9BHCF /5G 5DDFCDF=5H95B8G<5@@G9H:CFH<K<5H9::CFHGCBGI@H5BH<5GA589HC C6H5=BH<9=B:CFA5H=CB 9 +5B7H=CBG :CF &CB7CAD@=5B79 !B H<9 9J9BH C: CBGI@H5BHUG BCB7CAD@=5B79K=H<H<9BCB8=G7F=A=B5H=CBDFCJ=G=CBGC:H<=G5;F99A9BH H<9F97=D=9BHG<5@@=ADCG9GI7<5;F99A9BHG5B7H=CBG5G=HCFH<9 / A5M89H9FA=B9HC695DDFCDF=5H9=B7@I8=B;6IHBCH@=A=H98HC = K=H<<C@8=B;C:D5MA9BHGHCCBGI@H5BHIB89FH<9;F99A9BHK=H<=B 5F95GCB56@9D9F=C8C:H=A9BCHHC9L7998 85MG5B8 CF == 75B79@@5H=CBH9FA=B5H=CBCFGIGD9BG=CBC:H<9;F99A9BH=BK<C@9 CF=BD5FH : !B7CFDCF5H=CBC:(FCJ=G=CBGCBGI@H5BHG<5@@=B7@I89H<9DFCJ=G=CBGC: D5F5;F5D<G H<FCI;< =B 9J9FM GI6 5;F99A9BH =B7@I8=B; DFC7IF9A9BHGC:A5H9F=5@G5B8@95G9GC:9EI=DA9BHIB@9GG9L9ADH6M H<9*9;I@5H=CBGCF8=F97H=J9G=GGI98DIFGI5BHH<9F9HC CBGI@H5BH G<5@@ H5?9 GI7< 57H=CB K=H< F9GD97H HC 5BM GI6 5;F99A9BH CF DFC7IF9A9BH5GH<9F97=D=9BHCF /A5M8=F97H5G5A95BGC:9B:CF7=B; GI7< DFCJ=G=CBG=B7@I8=B;G5B7H=CBG:CFBCB7CAD@=5B79DFCJ=898 <CK9J9F H<5H=BH<99J9BHCBGI@H5BH697CA9G=BJC@J98=BCF=GH<F95H9B98 K=H< @=H=;5H=CB K=H< 5 GI6 5DD@=75BH CF GIDD@=9F 5G 5 F9GI@H C: GI7< 8=F97H=CB CBGI@H5BHA5MF9EI9GHH<9F97=D=9BH9BH9F=BHCGI7<@=H=;5H=CBHCDFCH97HH<9 =BH9F9GHGC:H<9+H5H95B8=B588=H=CBCBGI@H5BHA5MF9EI9GHH<9-B=H98 +H5H9GHC9BH9F=BHCGI7<@=H=;5H=CBHCDFCH97HH<9=BH9F9GHGC:H<9-B=H98+H5H9G ,=H@9.!GGIF5B79GRDD9B8=L IF=B;H<9D9F:CFA5B79C:H<=G7CBHF57HH<9 CBHF57H=B;(5FHM:CF=HG9@:=HG5GG=;B99G5B8GI779GGCFG=B=BH9F9GH5;F99G HC7CAD@MK=H<H<9:C@@CK=B;BCB8=G7F=A=B5H=CBGH5HIH9G5B85IH<CF=H=9G =B7@I8=B;6IHBCH@=A=H98HC (9FH=B9BH&CB8=G7F=A=B5H=CBIH<CF=H=9G ,=H@9.!C:H<9=J=@*=;<HG7HC: - + Q 89HG9E GH5H DFC<=6=HG 8=G7F=A=B5H=CB CB H<9 65G=G C: F579 7C@CF B5H=CB5@CF=;=B5B8 *(5FH ,<9 -B=:CFA *9@C75H=CB GG=GH5B79 5B8 *95@ (FCD9FHM 7EI=G=H=CB (C@=7=9G7HC: - + Q DFC<=6=HGIB:5=FHF95HA9BH C:D9FGCBG8=GD@5798CFK<CG9DFCD9FHM<5G699B57EI=F986975IG9 C: 989F5@CF 989F5@ 5=8DFC;F5AG5B8DFC>97HG 989F5@ =8 =;<K5M 7H C: - + Q 9H G9E DFC<=6=HG8=G7F=A=B5H=CBCBH<965G=GC:G9L +97H=CB C:H<9*9<56=@=H5H=CB7HC: - + Q9H G9E 5G 5A9B898 DFC<=6=HG 8=G7F=A=B5H=CB CB H<9 65G=G C: 8=G56=@=HM5B8 *(5FH ,<9;9 =G7F=A=B5H=CB7HC: 5G5A9B898- + Q 9HG9E DFC<=6=HG8=G7F=A=B5H=CBCBH<965G=GC:5;9 =FDCFH5B8=FK5M!ADFCJ9A9BH7HC: - + Q +97H=CB 5G 5A9B898 DFC<=6=HG 8=G7F=A=B5H=CB 65G98 CB F5797F9987C@CFB5H=CB5@CF=;=BCFG9L ,<9=J=@*=;<HG*9GHCF5H=CB7HC: ($ FC589B98 H<9G7CD97CJ9F5;95B85DD@=756=@=HMC:,=H@9.!C:H<9=J=@*=;<HG7H C: ,<9;9 =G7F=A=B5H=CB7HC: 5B8+97H=CB C:H<9 *9<56=@=H5H=CB7HC: 6M9LD5B8=B;H<989:=B=H=CBC:H<9H9FAG SDFC;F5AGCF57H=J=H=9GTHC=B7@I895@@C:H<9DFC;F5AGCF57H=J=H=9GC: H<9 989F5@ 5=8 F97=D=9BHG GI6F97=D=9BHG 5B8 7CBHF57HCFG K<9H<9F GI7<DFC;F5AGCF57H=J=H=9G5F9 989F5@@M:IB898CFBCH ,=H@9G!!5B8!!!C:H<9A9F=75BGK=H< =G56=@=H=9G7HK<=7<DFC<=6=H 8=G7F=A=B5H=CBCB H<965G=GC:8=G56=@=HM=B H<9CD9F5H=CB C:DI6@=7 9BH=H=9GDI6@=75B8DF=J5H9HF5BGDCFH5H=CBGMGH9AGD@579GC:DI6@=7 577CAAC85H=CB5B879FH5=BH9GH=B;9BH=H=9G- + QQ 5G=AD@9A9BH986M 9D5FHA9BHC:,F5BGDCFH5H=CBF9;I@5H=CBG 5H * D5FHG5B8(5;9C: ,<9 989F5@J=5H=CB8A=B=GHF5H=CBG&CB8=G7F=A=B5H=CBGH5HIH9 - + Q DFC<=6=HG8=G7F=A=B5H=CBCBH<965G=GC:F5797C@CF B5H=CB5@CF=;=B5B8G9L L97IH=J9'F89F 989F5@7H=CBGHC88F9GG BJ=FCBA9BH5@ "IGH=79=B%=BCF=HM(CDI@5H=CBG5B8$CK !B7CA9(CDI@5H=CBGK<=7< 9BGIF9G8=G7F=A=B5H=CB5;5=BGHA=BCF=HMDCDI@5H=CBG6M8=G7CIF5;=B; DFC;F5AGDC@=7=9G5B857H=J=H=9GK=H<8=GDFCDCFH=CB5H9@M<=;<5B8 58J9FG9<IA5B<95@H<CF9BJ=FCBA9BH5@9::97HGCBA=BCF=HM5B8@CK =B7CA9DCDI@5H=CBG L97IH=J9'F89F !ADFCJ=B;779GGHC+9FJ=79G:CF(9FGCBG K=H< $=A=H98 B;@=G< (FC:=7=9B7M 5B8 F9GI@H=B; 5;9B7M ;I=85B79 B5H=CB5@ CF=;=B 8=G7F=A=B5H=CB =B7@I89G 8=G7F=A=B5H=CB 6975IG9C: @=A=H98 B;@=G<DFC:=7=9B7M$ ( ,C9BGIF97CAD@=5B79K=H<,=H@9.! MCIAIGHH5?9F95GCB56@9GH9DGHC9BGIF9H<5H$ (D9FGCBG<5J9 A95B=B;:I@ 5779GG HC MCIF DFC;F5AG 98 *9; 5H HC ,=H@9!0C:H<9 8I75H=CBA9B8A9BHGC: 5G5A9B898K<=7< DFC<=6=HG MCI :FCA 8=G7F=A=B5H=B; 6975IG9 C: G9L =B 98I75H=CB DFC;F5AGCF57H=J=H=9G - + 9HG9E - !,* .! /(*' -* + I8=H =GDIH9G BM8=GDIH97CB79FB=B;5EI9GH=CBC::57H5F=G=B; IB89F5B=BH9F=ACFDCGH5I8=HC:H<=G;F99A9BHH<5H=GBCH8=GDCG98C:6M 5;F99A9BH DFCJ=898 :CF =B +97H=CB G<5@@ 69 F9J=9K98 6M =HMUG <=9: =B5B7=5@'::=79F &CH@5H9FH<5BH<=FHM 75@9B85F85MG5:H9F=GGI5B79C:H<9 :=B5@5I8=HF9DCFHCBHF57H=B;(5FHMA5MF9EI9GH5F9J=9K6M=HMUG<=9: =B5B7=5@'::=79FC:IBF9GC@J985I8=H=GGI9G ,<9F9EI9GH:CFF9J=9KK=@@69 GI6A=HH98=BKF=H=B; &9=H<9FH<9D9B89B7MC:58=GDIH9BCF=HG7CBG=89F5H=CB 6M=HMK=@@9L7IG9CBHF57H=B;(5FHM:FCA:I@@5B8H=A9@MD9F:CFA5B79=B 577CF85B79K=H<H<9H9FAGC:H<=G;F99A9BH I8=H*9J=9K(FC798IF9G CBHF57H=B;(5FHM5B8GI67CBGI@H5BH ;F99A9BHG=B7@I8=B;+7<98I@9C:CAD9BG5H=CB7CGHDFCDCG5@G5B8!B8=F97H CGH*5H9G!*A5M69GI6>97HHC5I8=HGCFF9J=9KGGI7<5G6IHBCH@=A=H98 HC5B;F99A9BH5I8=H5B=B7IFF987CGH5I8=H5B!*I8=HCF5(!* 5I8=HKCF?D5D9FF9J=9K !:G9@97H98:CF5I8=HCFF9J=9KH<9;F99A9BH7CGH DFCDCG5@5B8!*5B8F9@5H98KCF?D5D9FG=:5DD@=756@9K=@@69F9J=9K98HC J9F=:M7CAD@=5B79K=H< *(5FH 5B8CH<9FF9@5H98@5KG5B8F9;I@5H=CBG !BH<9=BGH5B79GC:5(!*5I8=HKCF?D5D9FF9J=9K=H=GCBHF57H=B;(5FHMUG F9GDCBG=6=@=HMHC9BGIF9:989F5@=HMCF@C75@;CJ9FBA9BHC::=7=5@G5F95@@CK98 :I@@5779GGHCH<9(UGKCF?D5D9FG=B7@I8=B;A5?=B;7CD=9G5GB979GG5FM ,<9;F99A9BH7CGHDFCDCG5@5B8!*G<5@@6958>IGH986MCBHF57H=B;(5FHM 5B8 5DDFCJ98 6M =HM CBHF57H '::=79F HC 7CB:CFA HC H<9 5I8=H CF F9J=9K F97CAA9B85H=CBG CBHF57H=B; (5FHM 5;F99G H<5H =B8=J=8I5@ H9FAG C: 7CGHG =89BH=:=98=BH<95I8=HF9DCFHG<5@@69=B7CFDCF5H98=BHCH<9;F99A9BH6MH<=G F9:9F9B79=:8=F97H986M=HM5H=HGGC@98=G7F9H=CB *9:IG5@6MCBHF57H=B;(5FHM HC=B7CFDCF5H95I8=HCFF9J=9KF97CAA9B85H=CBGCFHC9BGIF9H<5HH<9:989F5@ =HMCF@C75@;CJ9FBA9BHG<5J95779GGHC(KCF?D5D9FGK=@@697CBG=89F98 56F957<C:;F99A9BHH9FAG5B875IG9:CFH9FA=B5H=CBIB89F+97H=CB C: H<9;F99A9BH5B88=G5@@CK5B79C:DF=CFF9=A6IFG987CGHG 5@HF5BG I8=HG 5B8 !BJ9GH=;5H=CBG /CF? (5D9F *9J=9K CBHF57H=B;(5FHMUG+7<98I@9C:CAD9BG5H=CBA5M69GI6>97HHC5(!* I8=H/CF?(5D9F*9J=9K5B8 CF5I8=H6M!B89D9B89BH'::=79C:I8=HG5B8 !BJ9GH=;5H=CB'! !'!5H=HGGC@98=G7F9H=CBA5MF9J=9K5B8 CF5I8=H5B8 5DDFCJ9H<9(!*8C7IA9BH5H=CB ,<9+7<98I@9C:CAD9BG5H=CBG<5@@69 58>IGH986MH<9CBHF57H=B;(5FHM5B85DDFCJ986MH<9=HMCBHF57H'::=79F HC 7CB:CFA HC H<9 /CF? (5D9F *9J=9K F97CAA9B85H=CBG =B7@I898 =BH<9 A5B5;9A9BH@9HH9FCF5I8=HF97CAA9B85H=CBG=B7@I898=BH<95I8=HF9DCFH *9:IG5@ 6M H<9 CBHF57H=B; (5FHM HC =B7CFDCF5H9 H<9 /CF? (5D9F*9J=9K F97CAA9B85H=CBG =B7@I898 =B H<9 A5B5;9A9BH @9HH9F CF 5I8=H F97CAA9B85H=CBG=B7@I898=BH<95I8=HF9DCFHK=@@697CBG=89F9856F957<C: H<9 ;F99A9BH H9FAG 5B8 75IG9 :CF H9FA=B5H=CB IB89F +97H=CB C:H<9 ;F99A9BH5B88=G5@@CK5B79C:DF=CFF9=A6IFG987CGHG IF=B;!'!UGF9J=9KC:H<9!*5I8=HKCF?D5D9FG7F95H986MH<9CBHF57H=B; (5FHMUG=B89D9B89BH(!'!K=@@KCF?K=H<H<9(5B8 CFCBHF57H=B;(5FHM HCK5F85F9GC@IH=CBC:=GGI9GH<5H5F=G98IF=B;H<9F9J=9K 57<D5FHM5;F99G HCIG9=HG69GH9::CFHGHCF9GC@J95BM5I8=H8=GDIH9G=B5H=A9@MA5BB9F !:!'! =89BH=:=9GG=;B=:=75BH=GGI9G8IF=B;H<9F9J=9K5B8=GIB56@9HC=GGI957C;B=N5BH 5DDFCJ5@@9HH9F=HMK=@@F9=A6IFG9H<9CBHF57H=B;(5FHM5H5B5779DH98!* IBH=@5 * 989F5@7EI=G=H=CB*9;I@5H=CB7CAD@=5BH!*O9 ; *(5FH + 9B9F5@@M779DH98I8=H=B;+H5B85F8G+CGH77CIBH=B; +H5B85F8G=:5DD@=756@9=B577CF85B79K=H<DFC798IF9G5B8;I=89@=B9GC:H<9 A9F=75B GGC7=5H=CB C: +H5H9 =;<K5MG 5B8 ,F5BGDCFH5H=CB '::=7=5@G + ,' I8=H I=89 5B8 CH<9F 5DD@=756@9 DFC798IF9G 5B8 ;I=89@=B9GP=G F979=J985B85DDFCJ986M!'! 779DH98F5H9GK=@@695G:C@@CKG !:H<9DFCDCG98F5H9=G@9GGH<5BCB9<IB8F98:=:HMD9F79BH H<95779DH98F5H9F9=A6IFG98K=@@69B=B9HMD9F79BH C:H<9 DFCDCG98F5H9 !:H<9DFCDCG98F5H9=G69HK99BCB9<IB8F98:=:HMD9F79BH 5B8HKC<IB8F98D9F79BH H<95779DH98F5H9K=@@699=;<HM :=J9D9F79BHC:H<9DFCDCG98F5H9 !:H<9DFCDCG98F5H9=G;F95H9FH<5BHKC<IB8F98D9F79BH H<95779DH98F5H9K=@@69G9J9BHM :=J9D9F79BHC:H<9DFCDCG98 F5H9 !:!'!=GIB56@9HC=GGI957C;B=N5BH@9HH9FD9FH<=G+97H=CB !'!A5M F9EI=F9CBHF57H=B;(5FHMHCGI6A=H5F9J=G98=B89D9B89BH( 5I8=H98!* 5B8 5I8=H F9DCFH K=H<=B H<F99 ACBH<G C: H<9 9::97H=J9 85H9C: H<9 A5B5;9A9BH@9HH9F !'!K=@@H<9B<5J9IDHCG=LACBH<GHCF9J=9KH<9 CBHF57H=B;(5FHMUG5B8 CFH<9=B89D9B89BH(UGF9J=G=CBG !:H<9CBHF57H=B;(5FHM:5=@GHC7CAD@MK=H<H<9DFCJ=G=CBGC:H<=G+97H=CB CF=:!'!=GGH=@@IB56@9HC=GGI957C;B=N5BH5DDFCJ5@@9HH9F5:H9FH<9F9J=G98 =B89D9B89BH(5I8=H98!*=GGI6A=HH98CJ9F<9587CGHF9=A6IFG9A9BHK=@@ 69@=A=H98HCH<95779DH98!*H<5HK5G9GH56@=G<98IDCB=B=H=5@F9>97H=CBC: H<9!*5B8G9H:CFH<H<=G+97H=CB :CF5@@F9B89F98G9FJ=79G !BH<=G9J9BH H<=G5779DH98!*K=@@697CA9H<957HI5@5B8:=B5@!*:CFF9=A6IFG9A9BH DIFDCG9GIB89FH<=G;F99A9BH CBHF57H=B; (5FHM A5M GI6A=H HC =HM :=B5@ =BJC=79 CB@M K<9B 5@@ C: H<9 :C@@CK=B;=H9AG<5J9C77IFF98 !'!5779DHGCF58>IGHGH<9CF=;=B5@CF F9J=G98=B89D9B89BH(5I8=H98!*5@@KCF?IB89FH<=G;F99A9BH<5G 699B7CAD@9H98HCH<9G5H=G:57H=CBC:=HM5B8!'!<5G=GGI98=HG:=B5@ !*F9J=9K@9HH9F ,<9CBHF57H=B;(5FHMAIGHGI6A=H=HG:=B5@=BJC=79HC=HM BC@5H9FH<5BG=LHM 75@9B85F85MG5:H9FC77IFF9B79C:H<9@5GHC:H<9G9 =H9AG ,<95779DH98!*K=@@5DD@MHCH<=G;F99A9BH5B85@@CH <9F5;F99A9BHG 9L97IH98 69HK99B =HM 5B8 H<9 CBHF57H=B; (5FHM 9=H<9F 5G 5 DF=A9 CF GI67CBGI@H5BHK=H<H<9G5A9:=G75@D9F=C8!* +,, (* .!$!& / *, + +H5H9 (F9J5=@=B; /5;9 *5H9G &C CBGI@H5BH CF +I67CBGI@H5BH A5M 69 5K5F898 5B ;F99A9BH 7CBH5=B=B; DI6@=7 KCF? 9@9A9BHG IB@9GG F9;=GH9F98K=H<H<9 9D5FHA9BHC:!B8IGHF=5@*9@5H=CBG !*DIFGI5BHHC$56CF C89 Q *9;=GHF5H=CB K=H< !* AIGH 69 A5=BH5=B98 H<FCI;<CIH H<9 9BH=F9H9FAC:H<=G;F99A9BH=B7@I8=B;5BMGI6G9EI9BH5A9B8A9BHG ,<9 CBHF57H=B; (5FHM G<5@@ 7CAD@M K=H< 5@@ C: H<9 5DD@=756@9 DFCJ=G=CBG C: H<9 5@=:CFB=5$56CFC89F9EI=F=B;H<9D5MA9BHC:DF9J5=@=B;K5;9G ,<9 9B9F5@ (F9J5=@=B;/5;9*5H9 9H9FA=B5H=CBG5DD@=756@9HCKCF?IB89FH<=G;F99A9BH 5F9 5J5=@56@9 5B8 CB :=@9 K=H< H<9 9D5FHA9BH C: ,F5BGDCFH5H=CBG *9;=CB5@ =GHF=7H $56CF CAD@=5B79 '::=79F <HHDG 8CH 75 ;CJ DFC;F5AG 7CBGHFI7H=CB @56CF 7CAD@=5B79 ,<9G9K5;9 F5H9G5F9A5895GD97=:=7D5FHC:H<=G;F99A9BH6MF9:9F9B79DIFGI5BHHC $56CFC89Q 5B8K=@@695DD@=756@9HCKCF?D9F:CFA985H57CBGHFI7H=CB DFC>97H G=H9 (F9J5=@=B; K5;9G K=@@ 69 5DD@=756@9 HC 5@@ =BGD97H=CB KCF? D9F:CFA985H=HM7CBGHFI7H=CBG=H9G5H=HM:57=@=H=9G5B85HC:: G=H9@C75H=CBG H<5H5F9G9HID6MH<97CBGHFI7H=CB7CBHF57HCFCFCB9C:=HGGI67CBHF57HCFG GC@9@M5B8GD97=:=75@@MHCG9FJ9=HMDFC>97HG (F9J5=@=B;K5;9F9EI=F9A9BHG8C BCH 5DD@M HC =BGD97H=CB KCF? D9F:CFA98 5H H<9 :57=@=H=9G C: J9B8CFG 5B8 7CAA9F7=5@A5H9F=5@GGIDD@=9FGH<5HDFCJ=89;CC8G5B8G9FJ=79GHCH<9;9B9F5@ DI6@=7 9B9F5@(F9J5=@=B;/5;9*5H9 9H9FA=B5H=CBG5DD@=756@9HCH<=GDFC>97H A5M5@GC69C6H5=B98:FCAH<9 9D5FHA9BHC:!B8IGHF=5@*9@5H=CBG!BH9FB9H G=H95H<HHD KKK 8=F 75 ;CJ (5MFC@@*97CF8G CBHF57H=B;(5FHM5B8957<+I67CBGI@H5BHG<5@@ ?99D 577IF5H9 79FH=:=98 D5MFC@@ F97CF8G 5B8 GIDDCFH=B; 8C7IA9BHG 5G A5B85H986M$56CFC89Q 5B85G89:=B98=B*Q G<CK=B;H<9 B5A9588F9GGGC7=5@G97IF=HMBIA69FKCF?7@5GG=:=75H=CBGHF5=;<HH=A95B8 CJ9FH=A9<CIFGKCF?98957<85M5B8K99?5B8H<957HI5@D9F8=9AK5;9G D5=8HC957<>CIFB9MA5B5DDF9BH=79KCF?9FCFCH<9F9AD@CM999AD@CM986M H<9CBHF57H=B;(5FHMCF+I67CBGI@H5BH=B7CBB97H=CBK=H<H<9DI6@=7KCF? 57<D5MFC@@F97CF8G<5@@7CBH5=BCF69J9F=:=986M5KF=HH9B897@5F5H=CBH<5H=H =GA589IB89FD9B5@HMC:D9F>IFMGH5H=B;6CH<C:H<9:C@@CK=B; ,<9=B:CFA5H=CB7CBH5=B98=BH<9D5MFC@@F97CF8=GHFI95B87CFF97H ,<99AD@CM9F<5G 7CAD@=98K=H<H<9 F9EI=F9A9BHGC:$56CFC89 Q Q 5B8 Q :CF 5BM KCF? D9F:CFA98 6M <=G CF <9F 9AD@CM99GCBH<9DI6@=7KCF?GDFC>97H ,<9D5MFC@@F97CF8G9BIA9F5H98IB89FH<=G+97H=CB G<5@@6979FH=:=985G 7CFF97H6MH<9CBHF57H=B;(5FHMIB89FD9B5@HMC:D9F>IFM ,<9D5MFC@@F97CF8G 5B8 5@@ GIDDCFH=B; 8C7IA9BHG G<5@@ 69 A589 5J5=@56@9 :CF =BGD97H=CB 5B8 7CDM=B;6M=HMF9DF9G9BH5H=J9UG5H5@@F95GCB56@9<CIFG5HH<9DF=B7=D5@C::=79 C:H<9CBHF57H=B;(5FHM ,<9CBHF57H=B;(5FHMG<5@@DFCJ=897 CD=9GC:79FH=:=98 D5MFC@@GCFD9FA=H=BGD97H=CBC:=HGF97CF8G5G:C@@CKG 79FH=:=98 7CDM C: 5B 9AD@CM99G D5MFC@@ F97CF8 G<5@@ 69 A589 5J5=@56@9 :CF =BGD97H=CB CF :IFB=G<98 HC H<9 9AD@CM99 CF H<9 9AD@CM99G5IH<CF=N98F9DF9G9BH5H=J9CBF9EI9GH 79FH=:=987CDMC:5@@D5MFC@@F97CF8G9BIA9F5H98=BH<=G+97H=CB G<5@@69A5895J5=@56@9:CF=BGD97H=CBCF:IFB=G<98IDCBF9EI9GHHC5 F9DF9G9BH5H=J9C:=HMH<9 =J=G=CBC:$56CF+H5B85F8G B:CF79A9BH 5B8H<9 =J=G=CBC:DDF9BH=79G<=D+H5B85F8GC:H<9 9D5FHA9BHC: !B8IGHF=5@*9@5H=CBG 9FH=:=98D5MFC@@GGI6A=HH98HC=HMH<9 =J=G=CB C:$56CF+H5B85F8G B:CF79A9BH5B8H<9 =J=G=CBC:DDF9BH=79G<=D +H5B85F8GG<5@@BCH695@H9F98CFC6@=H9F5H986MH<9CBHF57H=B;(5FHM ,<9DI6@=7G<5@@BCH69;=J9B5779GGHC79FH=:=98D5MFC@@F97CF8G6MH<9 CBHF57H=B;(5FHM ,<9CBHF57H=B;(5FHM=GF9EI=F98HC:CFK5F85BM F9EI9GHG:CF79FH=:=98D5MFC@@GHCH<9=HMCBHF57H'::=79F6M6CH< 9A5=@5B8F9;I@5FA5=@CBH<96IG=B9GG85M:C@@CK=B;F979=DHC:H<9 F9EI9GH CBHF57H=B;(5FHM5B85@@GI67CBGI@H5BHGG<5@@GI6A=H579FH=:=987CDMC:H<9 F97CF8G9BIA9F5H98=BH<=G+97H=CB HCH<99BH=HMH<5HF9EI9GH98 H<9 F97CF8GK=H<=BH9B 75@9B85F85MG5:H9FF979=DHC:5KF=HH9BF9EI9GH BM7CDMC:F97CF8GA5895J5=@56@9:CF=BGD97H=CB5G7CD=9G5B8:IFB=G<98 IDCBF9EI9GHHCH<9DI6@=7CF5BMDI6@=75;9B7M6M=HMG<5@@69A5F?98CF C6@=H9F5H98=BGI7<5A5BB9F5GHCDF9J9BH8=G7@CGIF9C:957<=B8=J=8I5@G B5A9588F9GG5B8GC7=5@G97IF=HMBIA69F ,<9B5A95B8588F9GGC:H<9 CBHF57H=B;(5FHMCF+I67CBGI@H5BHD9F:CFA=B;H<9KCF?G<5@@BCH69A5F?98 CFC6@=H9F5H98 ,<9 CBHF57H=B; (5FHM G<5@@ =B:CFA =HM C: H<9 @C75H=CB C: H<9F97CF8G 9BIA9F5H98IB89FH<=G+97H=CB =B7@I8=B;H<9GHF99H588F9GG7=HM5B8 7CIBHM5B8G<5@@K=H<=B:=J9KCF?=B;85MGDFCJ=895BCH=79C:57<5B;9 C:@C75H=CB5B8588F9GG ,<9CBHF57H=B;(5FHMCF+I67CBGI@H5BHG<5@@<5J9H9B 75@9B85F85MG=B K<=7<HC7CAD@MGI6G9EI9BHHCF979=DHC:KF=HH9BBCH=79F9EI9GH=B;H<9F97CF8G 9BIA9F5H98 =B H<=G +97H=CB !B H<9 9J9BH H<9 CBHF57H=B; (5FHM CF +I67CBGI@H5BH:5=@GHC7CAD@MK=H<=BH<9H9B 85MD9F=C8<9CFG<9G<5@@ 5G5D9B5@HMHC=HM:CF:9=HCB9<IB8F988C@@5FG :CF957<75@9B85F85M CFDCFH=CBH<9F9C::CF957<KCF?9FIBH=@GHF=7H7CAD@=5B79=G 9::97HI5H98 +I7< D9B5@H=9GG<5@@69K=H<<9@86M=HM:FCAD5MA9BHGH<9B8I9 CBHF57H=B;(5FHM =GBCHGI6>97HHC5D9B5@HM5GG9GGA9BHDIFGI5BHHCH<=GG97H=CB8I9HCH<9 :5=@IF9C:5+I67CBGI@H5BHHC7CAD@MK=H<H<=GG97H=CB *9GDCBG=6=@=HM /<9BDF9J5=@=B;K5;9F5H9G5DD@MH<9CBHF57H=B; (5FHM=GF9GDCBG=6@9:CFJ9F=:M=B;7CAD@=5B79K=H<79FH=:=98D5MFC@@ F9EI=F9A9BHG !BJC=79D5MA9BHK=@@BCH69A589IBH=@H<9=BJC=79=G5DDFCJ98 6MH<9=HMCBHF57H'::=79F (9B5@HM ,<9CBHF57H=B;(5FHM5B85BMC:=HG+I67CBGI@H5B HGG<5@@ 7CAD@MK=H<$56CFC89Q 5B8Q (IFGI5BHHC$56CFC89Q H<9CBHF57H=B;(5FHM5B85BM+I67CBGI@H5BHG<5@@:CF:9=HHCH<9=HM5D9B5@HM C:BCHACF9H<5BHKC<IB8F988C@@5FG :CF957<75@9B85F85MCFDCFH=CB H<9F9C::CF957<KCF?9FD5=8@9GGH<5BH<9DF9J5=@=B;F5H9G5G89H9FA=B986M H<9 =F97HCFC: !*:CFH<9KCF?CF7F5:H=BK<=7<H<9KCF?9F=G9AD@CM98:CF 5BMDI6@=7KCF?8CB9IB89FH<9;F99A9BH6MH<9CBHF57H=B;(5FHMCF6M=HG +I67CBGI@H5BH =B J=C@5H=CB C: H<9 F9EI=F9A9BHG C: H<9 $56CF C89 5B8 =B D5FH=7I@5F$56CFC89QQ HC =B7@IG=J9 ,<95ACIBHC:H<=G:CF:9=HIF9G<5@@6989H9FA=B986MH<9$56CFCAA=GG=CB9F 5B8G<5@@6965G98CB7CBG=89F5H=CBC:A=GH5?9=B58J9FH9B79CFB9;@97HC: H<9CBHF57H=B;(5FHMCF+I67CBGI@H5BH=B:5=@=B;HCD5MH<97CFF97HF5H9C: DF9J5=@=B; K5;9G CF H<9 DF9J=CIG F97CF8 C: H<9 CBHF57H=B; (5FHM CF +I67CBGI@H5BH=BA99H=B;H<9=FF9GD97H=J9DF9J5=@=B;K5;9C6@=;5H=CBGCFH<9 K=@@:I@:5=@IF96MH<9CBHF57H=B;(5FHMCF+I67CBGI@H5BHHCD5MH<97CFF97H F5H9GC:DF9J5=@=B;K5;9G A=GH5?9=B58J9FH9B79CFB9;@97H=B:5=@=B;HCD5M H<97CFF97HF5H9GC:DF9J5=@=B;K5;9G=GBCH9L7IG56@9=:H<9CBHF57H=B;(5FHM CF+I67CBGI@H5BH<58?BCK@98;9C:H<9C6@=;5H=CBGIB89FH<9$56CFC89 ,<9 CBHF57H=B;(5FHM=GF9GDCBG=6@9:CFD5M=B;H<95DDFCDF=5H9F5H9=B7@I8=B;5BM 9G75@5H=CBGH<5HH5?9D@5798IF=B;H<9H9FAC:H<9;F99A9BH !B588=H=CBHCH<9D9B5@HM5B8DIFGI5BHHC$56CFC89Q H<98=::9F9B79 69HK99BH<9DF9J5=@=B;K5;9F5H9G5B8H<95ACIBHD5=8HC957<KCF?9F:CF 957<75@9B85F85MCFDCFH=CBH<9F9C::CFK<=7<957<KCF?9FK5GD5=8@9GGH<5B H<9DF9J5=@=B;K5;9F5H9G<5@@69D5=8HC957<KCF?9F6MH<9CBHF57H=B;(5FHM CF+I67CBGI@H5BH !:5KCF?9F9AD@CM986M5+I67CBGI@H5BHCB5DI6@=7KCF?GDFC>97H=GBCHD5=8 H<9;9B9F5@DF9J5=@=B;D9F8=9AK5;9G6MH<9+I67CBGI@H5BHH<9CBHF57H=B; (5FHM=GBCH@=56@9:CFH<9D9B5@H=9G89G7F=69856CJ9IB@9GGH<9CBHF57H=B; (5FHM<58?BCK@98;9C:H<5H:5=@IF9C:H<9+I67CBGI@H5BHHCD5MH<9GD97=:=98 DF9J5=@=B;F5H9C:K5;9GHCH<CG9KCF?9FGCFIB@9GGH<9CBHF57H=B;(5FHM:5=@G HC7CAD@MK=H<5@@C:H<9:C@@CK=B;F9EI=F9A9BHG ,<9 ;F99A9BH 9L97IH98 69HK99B H<9 CBHF57H=B; (5FHM 5B8 H<9 +I67CBGI@H5BH:CFH<9D9F:CFA5B79C:KCF?CBDI6@=7KCF?GDFC>97HG G<5@@=B7@I8957CDMC:H<9F9EI=F9A9BHG=B$56CFC89QQ 5B8 ,<9 CBHF57H=B; (5FHM G<5@@ ACB=HCF H<9 D5MA9BH C: H<9 GD97=:=98 ;9B9F5@DF9J5=@=B;F5H9C:D9F8=9AK5;9G6MH<9+I67CBGI@H5BHHC H<99AD@CM99G6MD9F=C8=7F9J=9KC:H<979FH=:=98D5MFC@@F97CF8GC: H<9+I67CBGI@H5BH -DCB 697CA=B; 5K5F9 C: H<9 +I67CBGI@H5BHUG :5=@IF9 HC D5M H<9 GD97=:=98DF9J5=@=B;F5H9C:K5;9GHCH<9+I67CBGI@H5BHUGKCF?9FGH<9 CBHF57H=B; (5FHM G<5@@ 8=@=;9BH@M H5?9 7CFF97H=J9 57H=CB HC <5@H CF F97H=:MH<9:5=@IF9=B7@I8=B;6IHBCH@=A=H98HCF9H5=B=B;GI::=7=9BH :IB8G8I9H<9+I67CBGI@H5BH:CFKCF?D9F:CFA98CBH<9DI6@=7KCF?G DFC>97H (F=CF HC A5?=B; :=B5@ D5MA9BH HC H<9 +I67CBGI@H5BH :CF KCF? D9F:CFA98CBH<9DI6@=7KCF?GDFC>97HH<9CBHF57H=B;(5FHMG<5@@ C6H5=B 5B 5::=85J=H G=;B98 IB89F D9B5@HM C: D9F>IFM :FCA H<9 +I67CBGI@H5BHH<5HH<9+I67CBGI@H5BH<58D5=8H<9GD97=:=98;9B9F5@ DF9J5=@=B;F5H9C:D9F8=9AK5;9GHCH<9+I67CBGI@H5BHUG9AD@CM99G CBH<9DI6@=7KCF?GDFC>97H5B85BM5ACIBHG8I9DIFGI5BHHC$56CF C89Q (IFGI5BHHC$56CFC89Q =HMG<5@@BCH=:MH<9CBHF57H=B;(5FHMCB5 DI6@=7KCF?GDFC>97HK=H<=B:=:H99B 75@9B85F85MGC:F979=DHC:57CAD@5=BH H<5H5+I67CBGI@H5BH<5G:5=@98HCD5MKCF?9FGH<9;9B9F5@DF9J5=@=B;F5H9C: D9F8=9AK5;9G !: =HM 89H9FA=B9G H<5H 9AD@CM99G C: 5 +I67CBGI@H5BH K9F9 BCH D5=8 H<9 ;9B9F5@DF9J5=@=B;F5H9C:D9F8=9AK5;9G5B8=:=HM8=8BCHF9H5=BGI::=7=9BH ACB9MIB89FH<9;F99A9BHHCD5MH<CG99AD@CM99GH<965@5B79C:K5;9G CK98IB89FH<9;9B9F5@DF9J5=@=B;F5H9C:D9F8=9AK5;9GH<9CBHF57H=B; (5FHMG<5@@K=H<<C@85B5ACIBHC:ACB9MG8I9H<9+I67CBGI@H5BHGI::=7=9BHHC D5M H<CG9 9AD@CM99G H<9 ;9B9F5@ DF9J5=@=B; F5H9 C: D9F 8=9A K5;9G =: F9EI9GH986M=HM CIFGC:$56CF =;<H<CIFG@56CF7CBGH=HIH9G5@9;5@85MG KCF? ,<9CBHF57H=B;(5FHMG<5@@:CF:9=H5G5D9B5@HMHCH<9=HMHK9BHM :=J9 8C@@5FG:CF957<KCF?9F9AD@CM98=BH<99L97IH=CBC:H<9;F99A9BH6M H<9CBHF57H=B;(5FHMCF5BMC:=HG+I67CBGI@H5BHG:CF957<75@9B85F85M8IF=B; K<=7<GI7<KCF?9F=GF9EI=F98CFD9FA=HH98HCKCF?ACF9H<5B9=;<H<CIFG =B5BMCB975@9B85F85M5B8:CFHM <CIFG=B5BMCB975@9B85FK99?=B J=C@5H=CBC:H<9DFCJ=G=CBGC:H<9$56CFC895B8=BD5FH=7I@5 FQQ HC H<9F9C:=B7@IG=J99L79DHH<5HKCF?D9F:CFA986M9AD@CM99G=B9L79GGC:9=;<H <CIFGD9F85M5B8:CFHM <CIFG8IF=B;5BMCB9K99?G<5@@ 69 D9FA=HH98IDCB7CAD9BG5H=CB:CF5@@<CIFGKCF?98=B9L79GGC:9=;<H<CIFG D9F85M5B8:CFHM <CIFG=B5BMK99?5HBCH@9GGH<5BCB95B8CB9 <5@: H=A9GH<965G=7F5H9C:D5M5GDFCJ=898=BQ AD@CMA9BHC:DDF9BH=79G /<9F99=H<9FH<9DF=A9;F99A9BH CF H<9 GI65;F99A9BH 9L7998G H<=FHM H<CIG5B8 8C@@5FG H<9 CBHF57H=B;(5FHM5B85BMGI67CBGI@H5BHGIB89F<=ACF<9FG<5@@7CAD@MK=H< 5@@5DD@=756@9F9EI=F9A9BHGC:$56CFC89QQ 5B8 =B H<99AD@CMA9BHC:5DDF9BH=79G ,<9CBHF57H=B;(5FHM5B8=HGGI67CBGI@H5BHG5F9F9EI=F98HC7CAD@MK=H<5@@ $56CFC89F9EI=F9A9BHGF9;5F8=B;H<99AD@CMA9BHC:5DDF9BH=79G=B7@I8=B; A5B85HCFM F5H=CG C: >CIFB9M @9J9@ HC 5DDF9BH=79 KCF?9FG (F=CFHC 7CAA9B79A9BHC:KCF?CBHF57H=B;(5FHM5B8=HGGI67CBGI@H5BHG5F958J=G98 HC7CBH57HH<9 !* =J=G=CBC:DDF9BH=79G<=D+H5B85F8GK96G=H95H <HHDG KKK 8=F 75 ;CJ 85G :CF588=H=CB5@ =B:CFA5H=CB F9;5F8=B; H<9 9AD@CMA9BHC:5DDF9BH=79G5B8:CFH<9GD97=:=7>CIFB9M HC 5DDF9BH=79F5H=CG :CF H<9 ;F99A9BH KCF? ,<9 CBHF57H=B; (5FHM =G F9GDCBG=6@9 :CF 5@@ GI67CBGI@H5BHGU7CAD@=5B79K=H<H<9G9F9EI=F9A9BHG (9B5@H=9G5F9GD97=:=98 =B$56CFC89Q !+ .&, -+!& ++ &, *(*!+ + (*,!!(,!'& ,<9 CBHF57H=B; (5FHM GI6F97=D=9BH =HM CF GI67CBGI@H5BH G<5@@ H5?9 B979GG5FM5B8F95GCB56@9GH9DGHC9BGIF9H<5H UG<5J9CDDCFHIB=H=9GHC D5FH=7=D5H9=BH<97CBHF57H * ,C9BGIF99EI5@D5FH=7=D5H=CBC: UG DFCJ=898=B * ,<9=HMG<CKG57CBHF57H;C5@:CF UG CBHF57H=B; (5FHMG<5@@A5?9KCF?5J5=@56@9HC G5B8G9@97HKCF?D5FHG7CBG=GH9BHK=H< 5J5=@56@9 GI67CBGI@H5BHG5B8GIDD@=9FG ,<9 CBHF57H=B; (5FHM G<5@@ A99H H<9 ;C5@ G<CKB 9@G9K<9F9 =B H<9G9 GD97=5@DFCJ=G=CBGCF89ACBGHF5H9H<5HH<9MA589589EI5H9;CC8:5=H<9::CFHG HCA99HH<=G;C5@ !H=GCBHF57H=B;(5FHMUGF9GDCBG=6=@=HMHCJ9F=:M5H85H9C: DFCDCG5@CD9B=B;H<5HH<9 :=FA=G79FH=:=985G5 6MIG=B;H<95@=:CFB=5 -B=:=98 9FH=:=75H=CB (FC;F5A -( 85H565G9 5B8 DCGG9GG9G H<9ACGH GD97=:=7 5J5=@56@9 &CFH< A9F=75B !B8IGHFM @5GG=:=75H=CB +MGH9A &!+ 7C89GCFKCF?7C895DD@=756@9HCH<9HM9D:KCF?H<9:=FAK=@@D9F:CFACBH<9 7CBHF57H 88=H=CB5@@MH<9CBHF57H=B;(5FHM=GF9GDCBG=6@9HC8C7IA9BHH<9 J9F=:=75H=CBF97CF86MDF=BH=B;CIHH<95@=:CFB=5-B=:=989FH=:=75H=CB(FC;F5A -(85H5:CF957< :=FA @=GHC: G79FH=:=986MH<9-(75B69 :CIB85H<HHDG 8CH 75 ;CJ DFC;F5AG 7=J=@ F=;<HG 869 G95F7< @@ D5FH=7=D5H=CB K=@@ 7CIBH HCK5F8 H<9 5@=:CFB=5 9D5FHA9BH C: ,F5BGDCFH5H=CBUG:989F5@@MA5B85H98GH5H9K=89CJ9F5@@ ;C5@ F98=H:CF A5H9F=5@G CF GIDD@=9G H<9 CBHF57H=B; (5FHM DIF7<5G9G :FCA UG 7CIBHG HCK5F8H<9;C5@=BH<9:C@@CK=B;A5BB9F D9F79BH7CIBHG=:H<9A5H9F=5@GCFGIDD@=9G5F9C6H5=B98:FCA5 A5BI:57HIF9F D9F79BH7CIBHG=:H<9A5H9F=5@GCFGIDD@=9G5F9DIF7<5G98:FCA5 F9;I@5F895@9F 'B@M :99G 7CAA=GG=CBG 5B8 7<5F;9G :CF 5GG=GH5B79 =B H<9 DFC7IF9A9BH5B889@=J9FMC:A5H9F=5@GCFGIDD@=9G7CIBH=:C6H5=B98 :FCA5 H<5H=GB9=H<9F5A5BI:57HIF9FBCFF9;I@5F895@9F * 89:=B9GSA5BI:57HIF9FT5B8F9;I@5F895@9F T ,<=G ;F99A9BH =G GI6>97H HC * (5FH 9BH=H@98 S(5FH=7=D5H=CB 6M =G58J5BH5;98IG=B9GG BH9FDF=G9G=B 9D5FHA9BHC:,F5BGDCFH5H=CB =B5B7=5@ GG=GH5B79 (FC;F5AGT CBGI@H5BHG K<C 9BH9F =BHC 5 :989F5@@M :IB898 5;F99A9BHK=@@5GG=GHH<9=HM=B5;CC8:5=H<9::CFHHC57<=9J95@=:CFB=5G GH5H9K=89CJ9F5@@ ;C5@ C5@ ,<9 %" %( &(* &* %$ %(* ) ( # $* ) (5FH=7=D5H=CB6M CBHF57H=B;(5FHMCFGI67CBGI@H5BHGG<5@@69=B 577CF85B79K=H<=B:CFA5H=CB7CBH5=B98=B L<=6=H 'CBGI@H5BHCBHF57H CAA=HA9BH5HH57<98<9F9HC5B8=B7CFDCF5H985GD5FHC:H<9;F99A9BH !:5 GI67CBGI@H5BH=GIB56@9HCD9F:CFAH<9CBHF57H=B;(5 FHMAIGHA5?9 5;CC8:5=H<9::CFHHCF9D@579<=A <9FK=H<5BCH<9F GI67CBGI@H5BH=:H<9 ;C5@=GBCHCH<9FK=G9A9H %99H=B; H<9 C5@ ,<9 CBHF57H=B; (5FHM 75B A99H H<9 D5FH=7=D5H=CB;C5@6M9=H<9F8C7IA9BH=B;7CAA=HA9BHGHC UGHCA99HH<9 ;F99A9BH;C5@CF6M8C7IA9BH=B;589EI5H9;CC8:5=H<9::CFHGHCA99HH<9 ;F99A9BH;C5@ B589EI5H9;CC8:5=H<9::CFHA95BGH<5HH<9CBHF57H=B; (5FHMAIGHG<CKH<5H=HHCC?5@@B979GG5FM5B8F95GCB56@9GH9DGHC57<=9J95 ;C5@H<5H6MH<9=FG7CD9=BH9BG=HM5B85DDFCDF=5H9B9GGHCH<9C6>97H=J9 7CI@8F95GCB56@M699LD97H98HCA99HH<9 ;C5@ !:H<9CBHF57H=B;(5FHM <5GBCHA9HH<9 ;C5@7CAD@9H95B8GI6A=H L<=6=H !B:CFA5H=CB R CC8 5=H< ::CFHGHC8C7IA9BH9::CFHGHCA99HH<9;C5@ *9:9FHC * (5FH:CF;I=85B79F9;5F8=B;9J5@I5H=CBC:;CC8:5=H<9::CFHGHCA99HH<9 ;C5@ CBHF57HGGIF5B79 -B89F * 6 ,<9CBHF57H=B;(5FHMGI6F97=D=9BHCFGI67CBGI@H5BHG<5@@BCH8=G7F=A=B5H9CB H<965G=GC:F5797C@CFB5H=CB5@CF=;=BCFG9L=BH<9D9F:CFA5B79C:H<=G 7CBHF57H ,<9CBHF57H=B;(5FHMG<5@@75FFMCIH5DD@=756@9F9EI=F9A9BHGC: *=BH<95K5F85B858A=B=GHF5H=CBC::989F5@ 5=87CBHF57HG 5=@IF96MH<9CBHF57H=B;(5FHMHC75FFMCIHH<9G9F9EI=F9A9BHG=G5A5H9F=5@ 6F957<C:H<=G7CBHF57HK<=7<A5MF9GI@H=BH<9H9FA=B5H=CBC:H<=G7CBHF57H IB89F+97H=CB CFGI7<CH<9FF9A98M5GH<9F97=D=9BH899AG5DDFCDF=5H9 K<=7<A5M=B7@I896IH=GBCH@=A=H98HC /=H<<C@8=B;ACBH<@MDFC;F9GGD5MA9BHG GG9GG=B;G5B7H=CBG $=EI=85H98 5A5;9G5B8 CF =GEI5@=:M=B;H<9CBHF57H=B;(5FHM:FCA:IHIF9DFCDCG=B;5GBCB F9GDCBG=6@9 ,9FA=B5H=CB 5B8 +I6GH=HIH=CB C: +I67CBGI@H5BHG ,<9 CBHF57H=B;(5FHMG<5@@IH=@=N9H<9GD97=:=7 G@=GH98HCD9F:CFAH<9KCF?5B8 GIDD@MH<9A5H9F=5@G:CFK<=7<957<=G@=GH98IB@9GGH<9CBHF57H=B;(5FHMCF GI67CBGI@H5BHC6H5=BGH<9=HMUGKF=HH9B7CBG9BH ,<9CBHF57H=B;(5FHM G<5@@BCHH9FA=B5H9CFGI6GH=HIH95@=GH98 :CF7CBJ9B=9B795B8D9F:CFAH<9 KCF?K=H<H<9=FCKB:CF79GCFC6H5=BA5H9F=5@G:FCACH<9FGCIF79GK=H<CIH 5IH<CF=N5H=CB :FCA H<9 =HM -B@9GG H<9 =HMUG 7CBG9BH =G DFCJ=898 H<9 CBHF57H=B;D5FHMG<5@@BCH699BH=H@98HC5BMD5MA9BH:CFKCF?CFA5H9F=5@ IB@9GG=H=GD9F:CFA98CFGIDD@=986MH<9@=GH98 CBH<9 L<=6=H CBGI@H5BHCBHF57H CAA=HA9BH:CFA=B7@I898=BH<96=8 ,<9=HM5IH<CF=N9G5F9EI9GHHCIG9CH<9F:CF79GCFGCIF79GC:A5H9F=5@G=:H<9 CBHF57H=B;(5FHMG<CKG5BMC:H<9:C@@CK=B;>IGH=:=75H=CBG $=GH98 :5=@GCFF9:IG9GHC9L97IH95KF=HH9B7CBHF57H65G98CB D@5BG5B8GD97=:=75H=CBG:CFH<9DFC>97H ,<9=HMGH=DI@5H98H<5H56CB8=G57CB8=H=CBC:9L97IH=B;H<9 GI67CBHF57H 5B8 H<9 @=GH98 :5=@G HC A99H H<9 =HMUG 6CB8 F9EI=F9A9BHG /CF?F9EI=F9G57CBGI@H5BHUG@=79BG95B8@=GH98 8C9GBCH<5J95 J5@=8@=79BG9IB89FCBHF57HCFG$=79BG9$5K $=GH98 :5=@GCFF9:IG9GHCD9F:CFAH<9KCF?CF:IFB=G<H<9@=GH98 A5H9F=5@G:5=@=B;CFF9:IG=B;HCD9F:CFA=GBCH5B5@@CK56@9F95GCB HCF9ACJ95 =:H<9:5=@IF9CFF9:IG5@=G5F9GI@HC:658:5=H<CF 8=G7F=A=B5H=CB $=GH98 UGKCF?=GIBG5H=G:57HCFM5B8BCH=B7CAD@=5B79K=H<H<9 7CBHF57H $=GH98 =G=B9@=;=6@9HCKCF?CBH<9DFC>97H6975IG9C:GI GD9BG=CB CF8965FA9BH $=GH98 697CA9G65B?FIDHCF=BGC@J9BH $=GH98 JC@IBH5F=@M K=H<8F5KG K=H< KF=HH9B BCH=79 :FCA H<9 CBHF57H $=GH98 =G=B9@=;=6@9HCF979=J97F98=H:CFH<9HMD9C:KCF?F9EI=F98 $=GH98 CKB9F8=9GCF697CA9G8=G56@98F9GI@H=B;=BH<9=B56=@=HM HCD9F:CFAH<9KCF?CBH<9CBHF57H ,<9=HM89H9FA=B9GCH<9F8C7IA9BH98;CC875IG9 ,<9CBHF57H=B;(5FHMG<5@@BCH=:MH<9CF=;=B5@ C:H<9=BH9BHHCIG9CH<9F :CF79GCFA5H9F=5@GCIF79G5B8DFCJ=89H<9F95GCBG5B8DFCJ=89H<9 K=H< 85MGHCF9GDCB8HCH<9BCH=795B858J=G9CBHF57H=B;(5FHM5B8H<9=HMC: H<9F95GCBGK<MH<9IG9C:CH<9F:CF79GCFGCIF79GC:A5H9F=5@GG<CI@8BCH C77IF ,<9CBHF57H=B;(5FHMUGF9EI9GHHCIG9CH<9F:CF79GCFA5H9F=5@GGCIF79GAIGH =B7@I89 'B9CFACF9C:H<9F95GCBG@=GH98=BH<9DF9798=B;D5F5;F5D< &CH=79G:FCAH<9CBHF57H=B;(5FHMHCH<9 F9;5F8=B;H<9F9EI9GH &CH=79G :FCA H<9 UG HC H<9 CBHF57H=B; (5FHM F9;5F8=B; H<=G F9EI9GH !:5@=GH98 =GH9FA=B5H98CFGI6GH=HIH98H<9CBHF57H=B;(5FHMAIGHA5?9 ;CC8:5=H<9::CFHGHC:=B85BCH<9F HCGI6GH=HIH9:CFH<9CF=;=B5@ ,<9 GI6GH=HIH9 AIGHD9F:CFA5H@95GHH<9G5A95ACIBHC:KCF?5G H<9CF=;=B5@ IB89FH<97CBHF57HHCH<99LH9BHB99898HCA99HCF9L7998H<9 ;C5@ CAA=HA9BH 5B8 -H=@=N5H=CB ,<9 =HMUG DFC;F5A AIGH =B7@I89 5 ACB=HCF=B; 5B8 9B:CF79A9BH A97<5B=GA HC 9BGIF9 H<5H 7CAA=HA9BHGF97CB7=@9HCH<9 IH=@=N5H=CB ,<9=HMG<5@@F9EI9GHH<9CBHF57H=B;(5FHMHC &CH=:MH<9=HMUG7CBHF57HC::=79FCF89G=;B5H98F9DF9G9BH5H=J9C:5BM 7<5B;9GHC=HG5BH=7=D5H98 D5FH=7=D5H=CB (FCJ=89H<=GBCH=:=75H=CB69:CF9GH5FH=B;H<95::97H98KCF? %5=BH5=BF97CF8G=B7@I8=B; &5A95B86IG=B9GG588F9GGC:957< GHH=9FGI67CBGI@H5BH &5A9 5B8 6IG=B9GG 588F9GG C: 957< GI67CBGI@H5BH J9B8CF5B8 HFI7?=B;7CAD5BMF9;5F8@9GGC:H=9F 5H9C:D5MA9BH5B8HCH5@5ACIBHD5=8HC957<6IG=B9GG. 3#$ $/*)/#'4$. 1 )/ " 0.$) ..)/ -+-$. 4( )/ !:H<9CBHF57H=B;(5FHM=G5 CBGI@H5BHH<9MG<5@@=B7@I89H<985H9C: KCF?D9F:CFA986MH<9=FCKB:CF79G5B8H<97CFF9GDCB8=B;J5@I9C:H<9KCF? !:5 =G8979FH=:=9869:CF97CAD@9H=B;=HGKCF?H<9 AIGHBCH=:MH<9 CBHF57H=B;(5FHM=BKF=H=B;C:H<98979FH=:=75H=CB85H9 !:56IG=B9GG697CA9G 5 79FH=:=98 69:CF9 7CAD@9H=B; =HG KCF? H<9 6IG=B9GG AIGH BCH=:M H<9 CBHF57H=B;(5FHM=BKF=H=B;C:H<979FH=:=75H=CB85H9 ,<9CBHF57H=B;(5FHM G<5@@GI6A=HH<9BCH=:=75H=CBGHCH<9=HM 'BKCF?7CAD@9H=CB H<9CBHF57H=B; (5FHMG<5@@7CAD@9H95 =G58J5BH5;98IG=B9GG BH9FDF=G9G 9FH=:=75H=CB +H5HIG<5B;9 L<=6=H ':CFA5B8GI6A=HH<9:CFAHCH<9=HMK=H<=B 85MGC:7CBHF57H5779DH5B79 -DCBKCF?7CAD@9H=CBH<9CBHF57H=B;(5FHMG<5@@7CAD@9H9 L<=6=H =B5@ *9DCFHR-H=@=N5H=CBC: =G58J5BH5;98IG=B9GG BH9FDF=G9G =FGH ,=9F +I67CBHF57HCFG5B8GI6A=H=HHCH<9=HMK=H<=B 85MGC:7CBHF57H5779DH5B79 ,<9=HMK=@@K=H<<C@8 IBH=@H<9:CFA=GGI6A=HH98 ,<9=HMK=@@F9@95G9 H<9K=H<<C@8IDCBGI6A=GG=CBC:H<97CAD@9H98:CFA !BH<9=HMUGF9DCFHGC: D5FH=7=D5H=CBHC5@HF5BGH<9=HMAIGH8=GD@5M 6CH<7CAA=HA9BHG5B85HH5=BA9BHG @=;=6=@=HMC: UG =GCB@M9@=;=6@9HC697CIBH98HCK5F8 H<9;F99A9BH;C5@=:=HD9F:CFAG57CAA9F7=5@@MIG9:I@:IB7H=CB- CBH<9 ;F99A9BH - AIGH699J5@I5H98CB5B5;F99A9BH6M5;F99A9BH65G=G D9F:CFAG5CAA9F7=5@@M-G9:I@ IB7H=CB- K<9B=H=GF9GDCBG=6@9:CF 9L97IH=CBC:H<9KCF?C:H<9;F99A9BH5B8=G75FFM=B;CIH=HGF9GDCBG=6=@=H=9G 6M 57HI5@@M D9F:CFA=B; A5B5;=B; 5B8 GID9FJ=G=B; H<9 KCF? =BJC@J98 ,C D9F:CFA5- H<9 AIGH5@GC69F9GDCBG=6@9K=H<F9GD97HHCA5H9F=5@G 5B8GIDD@=9GIG98CBH<9;F99A9BH:CFB9;CH=5H=B;DF=7989H9FA=B=B;EI5@=HM 5B8 EI5BH=HM CF89F=B; H<9 A5H9F=5@ 5B8 =BGH5@@=B; K<9F9 5DD@=756@9 5B8 D5M=B;:CFH<9A5H9F=5@=HG9@: ,C89H9FA=B9K<9H<9F5 =GD9F:CFA=B;5 - 9J5@I5H9H<95ACIBHC:KCF?GI67CBHF57H98=B8IGHFMDF57H=79GK<9H<9F H<95ACIBHH<9:=FA=GHC69D5=8IB89FH<9;F99A9BH=G7CAA9BGIF5H9K=H< H<9KCF?=H=G57HI5@@MD9F:CFA=B;5B8CH<9FF9@9J5BH:57HCFG 8C9GBCHD9F:CFA5- =:=HGFC@9=G@=A=H98HCH<5HC:5B 9LHF5D5FH=7=D5BH=B5HF5BG57H=CB;F99A9BHCFDFC>97HH<FCI;<K<=7<:IB8G 5F9 D5GG98 =B CF89F HC C6H5=B H<9 5DD95F5B79 C: D5FH=7=D5H=CB !B 89H9FA=B=B; K<9H<9F 5 =G GI7< 5B 9LHF5 D5FH=7=D5BH 9L5A=B9 G=A=@5F HF5BG57H=CBGD5FH=7I@5F@MH<CG9=BK<=7< G8CBCHD5FH=7=D5H9 !:5 8C9GBCHD9F:CFACF9L9F7=G9F9GDCBG=6=@=HM:CF5H@95GH H<=FHMD9F79BH C:H<9HCH5@7CGHC:=HG;F99A9BHK=H<=HGCKBKCF?:CF79 CFH<9 GI67CBHF57HG5;F95H9FDCFH=CBC:H<9KCF?C:H<9 * % &,H<5B KCI@8699LD97H98CBH<965G=GC:BCFA5@=B8IGHFMDF57H=79:CFH<9HMD9C: KCF?=BJC@J98=HK=@@69DF9GIA98H<5H=H=GBCHD9F:CFA=B;5- *97CF8G ,<9 CBHF57H=B; (5FHM G<5@@ A5=BH5=B F97CF8G C: A5H9F=5@G DIF7<5G98 CF GIDD@=98 :FCA 5@@ GI67CBHF57HG 9BH9F98 =BHC K=H< 79FH=:=98 G ,<9F97CF8GG<5@@G<CKH<9B5A95B86IG=B9GG588F9GGC:957< CFJ9B8CF5B8H<9HCH5@8C@@5F5ACIBH57HI5@@MD5=8957< CFJ9B8CF F9;5F8@9GGC:H=9F ,<9F97CF8GG<5@@G<CKH<985H9C:D5MA9BH5B8H<9HCH5@ 8C@@5F:=;IF9D5=8HC5@@:=FAG CBHF57H=B;(5FHMUGG<5@@5@GCG<CKH<985H9 C:KCF?D9F:CFA986MH<9=FCKB:CF79G5@CB;K=H<H<97CFF9GDCB8=B;8C@@5F J5@I9C:H<9KCF? 979FH=:=75H=CB C: !: 5 GI67CBGI@H5BH =G 8979FH=:=98 8IF=B;H<9@=:9C:H<9;F99A9BHH<98979FH=:=98GI67CBGI@H5BHG<5@@BCH=:MH<9 CBHF57H=B;(5FHM=BKF=H=B;K=H<H<985H9C:8979FH=:=75H=CB !:5GI67CBGI@H5BH 697CA9G579FH=:=98 8IF=B;H<9@=:9C:H<9;F99A9BHH<9GI67CBGI@H5BH G<5@@BCH=:MH<9CBHF57H=B;(5FHM=BKF=H=B;K=H<H<985H9C:79FH=:=75H=CB BM 7<5B;9G G<CI@8 69 F9DCFH98 HC =HMUG CBHF57H '::=79F K=H<=B H<=FHM 75@9B85F85MG *IBB=B;,5@@MC:(5MA9BHGHC :H9FGI6A=HH=B;5B=BJC=79:CF F9=A6IFG9A9BHH<5H=B7@I89G5D5MA9BHHC5 6IHBC@5H9FH<5BH<9 H< C:H<9:C@@CK=B;ACBH<H<9DF=A97CBHF57HCF 7CBGI@H5BHG<5@@7CAD@9H95B8 9A5=@H<9 L<=6=H =G58J5BH5;98IG=B9GG BH9FDF=G9*IBB=B;,5@@MC: (5MA9BHGHC6IG=B9GG GIDDCFH IB=H8CH 75 ;CJK=H<57CDMHCH<9=HM +I67CBHF57H=B; BMGI67CBHF57H9BH9F98=BHC5G5F9GI@HC: H<=G5;F99A9BHG<5@@7CBH5=B5@@C:H<9DFCJ=G=CBGC:H<=GG97H=CB %!+ $$& '-+(*'.!+!'&+ &CH=79 BM BCH=79 89A5B8 F9EI9GH 7CBG9BH 5DDFCJ5@ CF 7CAAIB=75H=CB9=H<9FD5FHM89G=F9GCF=GF9EI=F98HC;=J9H<9CH<9FD5FHMCF 5BMCH<9FD9FGCBG<5@@69=BKF=H=B;5B89=H<9FG9FJ98D9FGCB5@@MCFG9BH6M DF9D5=8:=FGH 7@5GGA5=@HCH<9588F9GGG9H:CFH<69@CK =H<9FD5FHMA5M 7<5B;9=HG588F9GG6MBCH=:M=B;H<9CH<9FD5FHMC:H<97<5B;9C:588F9GG=B KF=H=B; &CH=79G<5@@69899A987CAAIB=75H98:CFHM 9=;<H<CIFG:FCA H<9H=A9C:A5=@=B;=:A5=@985GDFCJ=898=BH<=G+97H=CB ,C=HM !,1' $)-!&, HH9BH=CBFM5B%7#=BB9M( 5@@9,5AD=7C ,CCBHF57H=B;(5FHM ,1$!&!&, *&,!'&$ "CG9D<+A=H< 5A=BC89@*=C+CIH<+H9 +5B =9;C $5)I=BH55@=:CFB=5 CBHF57H=B;(5FHMUG*9DCFHGCF%99H=B;G ,<9CBHF57H=B;(5FHM G<5@@GI6A=HDFC;F9GGF9DCFHG5H@95GHCB795ACBH< ,<9F9DCFHG<CI@869 GI::=7=9BH@M 89H5=@98 :CF H<9 =HMU CBHF57H '::=79F HC 89H9FA=B9 =: H<9 CBHF57H=B;(5FHM=GD9F:CFA=B;HC9LD97H5H=CBGCF=GCBG7<98I@9HCDFCJ=89 7CAAIB=75H=CBC:=BH9F=A:=B8=B;G5B8HCGI::=7=9BH@M588F9GG5BM8=::=7I@H=9G CFGD97=5@DFC6@9AG9B7CIBH9F98GCF9A98=9G75B6989J9@CD98 !BH9FDF9H5H=CB ,<9H9FAGC:H<=G;F99A9BHG<5@@697CBGHFI98=B 577CF85B79K=H<H<9A95B=B;C:H<9@5B;I5;9IG985B8G<5@@BCH697CBGHFI98 :CFCF5;5=BGH9=H<9FD5FHM6MF95GCBC:H<95IH<CFG<=DC:H<=G;F99A9BHCF 5BMCH<9FFI@9C:7CBGHFI7H=CBK<=7<A=;<HCH<9FK=G95DD@M +97H=CB 958=B;G 5B8 +I6<958=B;G ,<9 G97H=CB <958=B;G 5B8 GI6<958=B;G7CBH5=B98=BH<=G;F99A9BH5F9=B7@I898:CF7CBJ9B=9B79CB@M 5B8G<5@@BCH@=A=HCFCH<9FK=G95::97HH<9H9FAGC:H<=G;F99A9BH CGH(F=B7=D5@G ,<9CBHF57H=B;(5FHM5;F99GH<5H *(5FH CBHF57HCGH(F=B7=D@9G5B8(FC798IF9GG<5@@69IG98HC89H9FA=B9H<9 5@@CK56=@=HMC:=B8=J=8I5@H9FAGC:7CGH ,<9CBHF57H=B;(5FHM5@GC5;F99GHC 7CAD@MK=H< 989F5@DFC798IF9G=B577CF85B79K=H< *(5FH -B=:CFA 8A=B=GHF5H=J9 *9EI=F9A9BHG CGH (F=B7=D@9G 5B8 I8=H *9EI=F9A9BHG :CF 989F5@ K5F8G BM 7CGHG :CF K<=7< D5MA9BH <5G 699B A589 HC H<9 CBHF57H=B;(5FHMH<5H5F989H9FA=B986MGI6G9EI9BH5I8=HHC69IB5@@CK56@9 IB89F *(5FH CF *(5FH 5F9GI6>97HHCF9D5MA9BH6MH<9 CBHF57H=B;(5FHMHC=HM /<9BCBHF57H=B;(5FHMCF+I67CBGI@H5BH=G5&CB (FC:=H'F;5B=N5H=CBCF5B!BGH=HIH=CBC: =;<9F 8I75H=CBH<9CGH(F=B7=D@9G :CF,=H@9 *(5FH -B=:CFA8A=B=GHF5H=J9*9EI=F9A9BHGCGH(F=B7=D@9G 5B8I8=H*9EI=F9A9BHG:CF 989F5@K5F8GG<5@@5DD@M +I67CBHF57H=B; &CH<=B; 7CBH5=B98 =B H<=G * % &, CF CH<9FK=G9 G<5@@ 7F95H9 5BM 7CBHF57HI5@ F9@5H=CB 69HK99B H<9 =HM5B85BM +I67CBGI@H5BHG5B8BCGI65;F99A9BHG<5@@F9@=9J9H<9CBHF57H=B;(5FHMC: =HGF9GDCBG=6=@=H=9G5B8C6@=;5H=CBG<9F9IB89F ,<9CBHF57H=B;(5FHM5;F99GHC 69 5G :I@@M F9GDCBG=6@9 HC H<9 =HM :CF H<9 57HG 5B8 CA=GG=CBGC: =HG +I67CBGI@H5BHG5B8C:D9FGCBG9=H<9F8=F97H@MCF=B8=F97H@M9AD@CM986M5BMC: H<9A5G=H=G:CFH<957HG5B8CA=GG=CBGC:D9FGCBG8=F97H@M9AD@CM986MH<9 CBHF57H=B;(5FHM ,<9CBHF57H=B;(5FHMGC6@=;5H=CBHCD5M=HG+I67CBGI@H5BHG =G5B=B89D9B89BHC6@=;5H=CB:FCAH<9=HMUGC6@=;5H=CBHCA5?9D5MA9BHGHC H<9CBHF57H=B;(5FHM ,<9CBHF57H=B;(5FHMG<5@@D9F:CFAH<9 KCF? 7CBH9AD@5H98 K=H< F9GCIF79G 5J5=@56@9 K=H<=B =HG CKB CF;5B=N5H=CB5B8BC DCFH=CBC:H<9KCF?G<5@@69GI67CBHF57H98K=H<CIHKF=HH9B5IH<CF=N5H=CB6M H<9 =HM CBHF57H '::=79F 9L79DH H<5H K<=7< =G 9LDF9GG@M =89BH=:=98 =B H<9 +7<98I@9C:CAD9BG5H=CB BMGI65;F99A9BH9BH9F98=BHC5G5F9GI@HC:H<=G ;F99A9BHG<5@@7CBH5=B5@@H<9DFCJ=G=CBGGH=DI@5H98=BH<=G9BH=F9;F99A9BH HC695DD@=756@9HC+I67CBGI@H5BHGIB@9GGCH<9FK=G9BCH98 CBHF57H=B;(5FHM G<5@@D5M=HG+I67CBGI@H5BHGK=H<=B =:H99B 75@9B85F85MG:FCAF979=DHC: 957<D5MA9BHA589HCH<9CBHF57H=B;(5FHM6MH<9=HM BMGI6GH=HIH=CBC: +I67CBGI@H5BHGAIGH695DDFCJ98=BKF=H=B;6MH<9=HMCBHF57H'::=79F=B 58J5B79C:5GG=;B=B;KCF?HC5GI6GH=HIH9+I67CBGI@H5BH (FCADH (FC;F9GG (5MA9BH ,<9 CBHF57H=B; (5FHM CF GI67CBGI@H5BHG<5@@D5MHC5BMGI67CBGI@H5BHBC@5H9FH<5B:=:H99B 85MG 5:H9FF979=DHC:957<DFC;F9GGD5MA9BHIB@9GGCH<9FK=G95;F998HC=BKF=H=B; H<9F9GD97H=J95ACIBHG5@@CK98H<9CBHF57H=B;(5FHMCB577CIBHC:H<9KCF? D9F:CFA98 6M H<9 GI67CBGI@H5BHG HC H<9 9LH9BH C: 957< GI67CBGI@H5BHUG =BH9F9GHH<9F9=B !BH<99J9BHH<5HH<9F9=G5;CC8:5=H<8=GDIH9CJ9F5@@CF5BM DCFH=CBC:H<95ACIBH8I9CB5DFC;F9GGD5MA9BH:FCAH<9CBHF57H=B;(5FHM CFGI67CBGI@H5BHHC5GI67CBGI@H5BHH<9CBHF57H=B;(5FHMCFGI67CBGI@H5BH A5MK=H<<C@8BCACF9H<5B D9F79BHC:H<98=GDIH985ACIBH BMJ=C@5H=CB C:H<=GF9EI=F9A9BHG<5@@7CBGH=HIH9575IG9:CF8=G7=D@=B5FM57H=CB5B8G<5@@ GI6>97HH<9@=79BG99HC5D9B5@HMD5M56@9HCH<9GI67CBGI@H5BHC:D9F79BH C:H<95ACIBH8I9D9FACBH<:CF9J9FMACBH<H<5HD5MA9BH=GBCHA589 (FCADH (5MA9BH C: /=H<<9@8 IB8G HC +I67CBGI@H5BHG &C F9H5=B5;9 K=@@ 69 <9@8 6M H<9 =HM :FCA DFC;F9GG D5MA9BHG 8I9 HC H<9 CBHF57H=B;(5FHM ,<9CBHF57H=B;(5FHM5B8GI67CBGI@H5BHG5F9DFC<=6=H98 :FCA<C@8=B;F9H5=B5;9:FCAGI67CBGI@H5BHG BM89@5MCFDCGHDCB9A9BHC: D5MA9BHA5MH5?9D@579CB@M:CF;CC875IG95B8K=H<H<9=HMUGDF=CFKF=HH9B 5DDFCJ5@ BM J=C@5H=CB C: H<9G9 DFCJ=G=CBG G<5@@ GI6>97H H<9 J=C@5H=B; CBHF57H=B; (5FHM CF GI67CBGI@H5BH HC H<9 D9B5@H=9G G5B7H=CBG5B8CH<9F F9A98=9G GD97=:=98 =B +97H=CB C: H<9 5@=:CFB=5 =J=@ C89 ,<=G F9EI=F9A9BH G<5@@ BCH 69 7CBGHFI98 HC @=A=H CF =AD5=F 5BM 7CBHF57HI5@ 58A=B=GHF5H=J9CF>I8=7=5@F9A98=9GCH<9FK=G95J5=@56@9HCH<9CBHF57H=B; (5FHMCFGI67CBGI@H5BH=BH<99J9BHC:58=GDIH9=BJC@J=B;@5H9D5MA9BHCF BCBD5MA9BH6MH<9CBHF57H=B;(5FHM89:=7=9BHGI67CBGI@H5BHD9F:CFA5B79 5B8 CFBCB7CAD@=5B796M5GI67CBGI@H5BH ,<=G7@5IG95DD@=9GHC6CH< 5B8 BCB GI67CBGI@H5BHG EI=DA9BH (IF7<5G9 (F=CF 5IH<CF=N5H=CB =B KF=H=B; 6M =HM CBHF57H'::=79FG<5@@69F9EI=F9869:CF9CBHF57H=B;(5FHM9BH9FG=BHC5BM IB6I8;9H98DIF7<5G9CF89FCFGI67CBHF57H9L7998=B;:=J9H<CIG5B88C@@5FG :CFGIDD@=9G9EI=DA9BHCFG9FJ=79G CBHF57H=B;(5FHMG<5@@DFCJ=89 5B 9J5@I5H=CB C: H<9 B979GG=HM CF 89G=F56=@=HMC:=B7IFF=B;GI7< 7CGHG CF DIF7<5G9C:5BM=H9AG9FJ=79CF7CBGI@H=B;KCF?BCH7CJ9F98=B+7<98I@9C: CAD9BG5H=CB 5B8 9L7998=B; :=J9 H<CIG5B8 8C@@5FG K=H<DF=CF 5IH<CF=N5H=CB6M=HMCBHF57H'::=79FH<F997CAD9H=H=J9EICH5H=CBGAIGH69 GI6A=HH98K=H<H<9F9EI9GHCFH<956G9B79C:DFCDCG5@AIGH69589EI5H9@M >IGH=:=98 BM9EI=DA9BHDIF7<5G98K=H<:IB8GDFCJ=898IB89FH<9H9FAGC: H<=G;F99A9BH=GGI6>97HHCH<9:C@@CK=B; CBHF57H=B;(5FHMG<5@@A5=BH5=B5B=BJ9BHCFMC:5@@BCB9LD9B856@9DFCD9FHM &CB9LD9B856@9DFCD9FHM=G89:=B985G<5J=B;5IG9:I@@=:9C:5H@95GHHKCM95FG 5B8 5B 57EI=G=H=CB 7CGH C: :=J9 H<CIG5B8 8C@@5FG CF ACF9 !: H<9 DIF7<5G989EI=DA9BHB998GF9D@579A9BH5B8=GGC@8CFHF5898=B=HMG<5@@ F979=J95DFCD9FF9:IB8CF7F98=H5HH<97CB7@IG=CBC:H<9;F99A9BHCF=:H<9 ;F99A9BH=GH9FA=B5H985GDFCJ=898:CF=B+97H=CB CBHF57H=B;(5FHMA5M 9=H<9F?99DH<99EI=DA9BH5B87F98=H=HM=B5B5ACIBH9EI5@HC =HG:5=FA5F?9H J5@I9CFG9@@GI7<9EI=DA9BH5HH<969GHDF=79C6H5=B56@95H5DI6@=7CFDF=J5H9 G5@9=B577CF85B79K=H<9GH56@=G<98=HMDFC798IF9G5B87F98=H=HM=B5B 5ACIBH 9EI5@ HC H<9 G5@9G DF=79 !: CBHF57H=B; (5FHM 9@97HG HC ?99D H<9 9EI=DA9BH :5=F A5F?9H J5@I9 G<5@@ 69 89H9FA=B98 5H CBHF57H=B;(5FHMUG 9LD9BG9 CB H<9 65G=G C: 5 7CAD9H9BH =B89D9B89BH 5DDF5=G5@ C: GI7< 9EI=DA9BH DDF5=G5@GG<5@@69C6H5=B98:FCA5B5DDF5=G9FAIHI5@@M5;F9956@9 HC6M=HM5B8CBHF57H=B;(5FHM=:=H=G89H9FA=B98HCG9@@H<99EI=DA9BHH<9 H9FAG5B87CB8=H=CBGC:GI7<G5@9AIGH695DDFCJ98=B58J5B796M=HM *9;I@5H=CB *(5FH F9EI=F9G57F98=HHC+H5H9CF 989F5@:IB8GK<9B D5FH=7=D5H=B;9EI=DA9BHK=H<5:5=FA5F?9HJ5@I9;F95H9FH<5B:=J9H<CIG5B8 8C@@5FG =G7F98=H98HCH<9DFC>97H *965H9G#=7?657?GCF'H<9F-B@5K:I@CBG=89F5H=CB ,<9 CBHF57H=B;(5FHMK5FF5BHGH<5HH<=G;F99A9BHK5GBCHC6H5=B98CFG97IF98 H<FCI;<F965H9G?=7?657?GCFCH<9FIB@5K:I@7CBG=89F5H=CB9=H<9FDFCA=G98CF D5=8HC5BM=HM9AD@CM99 CF6F957<CFJ=C@5H=CBC:H<=GK5FF5BHM=HMG<5@@ <5J9H<9F=;<H=B=HG8=G7F9H=CBHCH9FA=B5H9H<=G;F99A9BHK=H<CIH@=56=@=HM HCD5MCB@M:CFH<9J5@I9C:H<9KCF?57HI5@@MD9F:CFA98CFHC898I7H:FCA H<=G;F99A9BHDF=79CFCH<9FK=G9F97CJ9FH<9:I@@5ACIBHC:GI7<F965H9 ?=7?657?CFCH<9FIB@5K:I@7CBG=89F5H=CB (FC<=6=H=CB C: LD9B8=B; =HM +H5H9 CF 989F5@ IB8G :CF $C66M=B; ,<9CBHF57H=B;(5FHM79FH=:=9GHCH<969GHC:<=GCF<9F?BCK@98;9 5B869@=9:H<5HBC+H5H9 989F5@CF=HM5DDFCDF=5H98:IB8G<5J9699BD5=8 CFK=@@69D5=86MCFCB69<5@:C:H<9CBHF57H=B;(5FHMHC5BMD9FGCB:CF =B:@I9B7=B;CF5HH9ADH=B;HC=B:@I9B795BC::=79FCF9AD@CM99C:5BM@C75@ +H5H9CF 989F5@5;9B7M5%9A69FC:H<9+H5H9$9;=G@5HIF9CF-B=H98+H5H9G CB;F9GG 5B C::=79F CF 9AD@CM99 C: H<9 $9;=G@5HIF9 CF CB;F9GG CF 5BM 9AD@CM99C:5%9A69FC:H<9$9;=G@5HIF9CFCB;F9GG=B7CBB97H=CBK=H<H<9 5K5F8=B;CFA5?=B;C:H<=G;F99A9BHCFK=H<H<99LH9BG=CB7CBH=BI5H=CB F9B9K5@5A9B8A9BHCFAC8=:=75H=CBC:H<=G;F99A9BH !:5BM:IB8GCH<9F H<5B 989F5@5DDFCDF=5H98:IB8G<5J9699BD5=8CFK=@@69D5=8HC5BMD9FGCB :CF =B:@I9B7=B; CF 5HH9ADH=B; HC =B:@I9B79 5B C::=79F CF 9AD@CM99 C: 5BM 5;9B7M5%9A69FC:CB;F9GG5BC::=79FCF9AD@CM99C:CB;F9GGCF5B 9AD@CM99C:5A9A69FC:CB;F9GG=B7CBB97H=CBK=H<H<=G;F99A9BHH<9 CBHF57H=B;(5FHMG<5@@7CAD@9H95B8GI6A=H+H5B85F8 CFA $$$S =G7@CGIF9 CFA HC *9DCFH $C66M=B;T =B 577CF85B79 K=H< =HG =BGHFI7H=CBG ,<=G 79FH=:=75H=CB=G5A5H9F=5@F9DF9G9BH5H=CBC::57HIDCBK<=7<F9@=5B79K5GD@5798 K<9B H<=G HF5BG57H=CB K5G A589 CF 9BH9F98 =BHC +I6A=GG=CB C: H<=G 79FH=:=75H=CB =G 5 DF9F9EI=G=H9 :CF A5?=B; CF 9BH9F=B; =BHC H<=G HF5BG57H=CB =ADCG98 6M - + Q BM D9FGCB K<C :5=@G HC :=@9 H<9 F9EI=F98 79FH=:=75H=CBG<5@@69GI6>97HHC57=J=@D9B5@HMC:BCH@9GGH<5BH9BH<CIG5B8 8C@@5FG 5B8 BCH ACF9 H<5B CB9 <IB8F98 H<CIG5B8 8C@@5FG :CF957<GI7<:5=@IF9 ,<9CBHF57H=B;(5FHM5@GC5;F99G6MG=;B=B; H<=G 8C7IA9BH H<5H <9 CF G<9 G<5@@ F9EI=F9 H<5H H<9 @5B;I5;9 C:H<=G 79FH=:=75H=CB69=B7@I898=B5@@@CK9FH=9FGI65;F99A9BHGK<=7<9L7998CB9 <IB8F98H<CIG5B88C@@5FG 5B8H<5H5@@GI7<GI6F97=D=9BHGG<5@@ 79FH=:M5B88=G7@CG9577CF8=B;@M 965FA9BH5B8+IGD9BG=CB9FH=:=75H=CB ,<9CBHF57H=B;(5FHMUG G=;B5HIF95::=L98<9F9=BG<5@@7CBGH=HIH9579FH=:=75H=CBIB89FD9B5@HMC:D9F>IFM IB89FH<9@5KGC:H<9+H5H9C:5@=:CFB=5H<5HH<9CBHF57H=B;(5FHMCF5BM D9FGCB5GGC7=5H98H<9F9K=H<=BH<975D57=HMC:CKB9FD5FHB9F8=F97HCFC::=79F CF A5B5;9F =G BCH 7IFF9BH@M IB89F GIGD9BG=CB 8965FA9BH JC@IBH5FM 9L7@IG=CBCF89H9FA=B5H=CBC:=B9@=;=6=@=HM6M5BM:989F5@5;9B7M<5GBCH699B GIGD9B8988965FF98JC@IBH5F=@M9L7@I898CF89H9FA=B98=B9@=;=6@96M5BM :989F5@5;9B7MK=H<=BH<9D5GHH<F99M95FG8C9GBCH<5J95DFCDCG98 8965FA9BHD9B8=B;5B8<5GBCH699B=B8=7H987CBJ=7H98CF<58 5 7=J=@ >I8;A9BH F9B89F98 5;5=BGH =H 6M 5 7CIFH C: 7CAD9H9BH >IF=G8=7H=CB =B 5BM A5HH9F=BJC@J=B;:F5I8CFC::=7=5@A=G7CB8I7HK=H<=BH<9D5GHH<F99M95FG BM9L79DH=CBGHCH<=G79FH=:=75H=CBAIGH698=G7@CG98HC=HM L79DH=CBGK=@@ BCH B979GG5F=@M F9GI@H =B 89B=5@ C: F97CAA9B85H=CB :CF 5K5F8 6IH K=@@ 69 7CBG=89F98=B89H9FA=B=B;F9GDCBG=6=@=HM =G7@CGIF9GAIGH=B8=75H9H<9D5FHM HCK<CAH<99L79DH=CBG5DD@MH<9=B=H=5H=B;5;9B7M5B8H<985H9GC:5;9B7M 57H=CB L79DH=CBGHCH<9 989F5@ CJ9FBA9BH L7@I898(5FH=9G$=GH+MGH9A A5=BH5=B986MH<9- + 9B9F5@+9FJ=79G8A=B=GHF5H=CB5F9HC6989H9FA=B98 6M / IB8=B;*9EI=F9A9BHG !H=GAIHI5@@MIB89FGHCC869HK99BH<9 D5FH=9GH<5HH<=G;F99A9BHA5M<5J9699BKF=HH9B69:CF95G79FH5=B=B;H<9 5J5=@56=@=HMC::IB8GCF5DDFCDF=5H=CBC::IB8G:CFH<9AIHI5@69B9:=HC:6CH< D5FH=9G=BCF89FHC5JC=8DFC;F5A5B8:=G75@89@5MGH<5HKCI@8C77IF=:H<9 ;F99A9BH K9F9 9L97IH98 5:H9F H<5H 89H9FA=B5H=CB K5G A589 ,<=G ;F99A9BH=GJ5@=85B89B:CF7956@9CB@M=:GI::=7=9BH:IB8G5F9A5895J5=@56@9 HC =HM :CF H<9 DIFDCG9 C: H<=G ;F99A9BH !B 588=H=CB H<=G ;F99A9BH =G GI6>97HHC5BM588=H=CB5@F9GHF=7H=CBG@=A=H5H=CBG7CB8=H=CBGCF5BMGH5HIH9 9B57H986MH<9CB;F9GG+H5H9$9;=G@5HIF9CF=HM;CJ9FB=B;6C5F8H<5HA5M 5::97HH<9DFCJ=G=CBGH9FAGCF:IB8=B;C:H<=G;F99A9BH=B5BMA5BB9F !H =GAIHI5@@M5;F998H<5H=:GI::=7=9BH:IB8G5F9BCH5DDFCDF=5H98H<=G;F99A9BH A5M695A9B898HCF9:@97H5BMF98I7H=CB=B:IB8G =HM<5GH<9CDH=CBHC H9FA=B5H9H<9;F99A9BHDIFGI5BHHC+97H=CB CF6MAIHI5@5;F99A9BHHC 5A9B8H<9;F99A9BHHCF9:@97H5BMF98I7H=CBC::IB8G CBH=B;9BH 99 CBHF57H=B;(5FHMK5FF5BHG6M9L97IH=CBC:H<=G ;F99A9BHH<5HBCD9FGCBCFG9@@=B;5;9B7M<5G699B9AD@CM98CFF9H5=B98 HCGC@=7=HCFG97IF9H<=G;F99A9BHIDCB5B5;F99A9BHCFIB89FGH5B8=B;:CF 57CAA=GG=CBD9F79BH5;96FC?9F5;9CF7CBH=B;9BH:999L79DH=B;6CB5:=89 9AD@CM99G CF 6CB5 :=89 9GH56@=G<98 7CAA9F7=5@ CF G9@@=B; 5;9B7=9G A5=BH5=B986MCBHF57H=B;(5FHM:CFH<9DIFDCG9C:G97IF=B;6IG=B9GG CF 6F957<CFJ=C@5H=CBC:H<=GK5FF5BHM=HM<5GH<9F=;<HHC5BBI@H<=G;F99A9BH K=H<CIH@=56=@=HMD5MCB@M:CFH<9J5@I9C:H<9KCF?57HI5@@MD9F:CFA98CF=B =HG 8=G7F9H=CB HC 898I7H :FCA H<9 ;F99A9BH DF=79 CF 7CBG=89F5H=CB CF CH<9FK=G9F97CJ9FH<9:I@@5ACIBHC:GI7<7CAA=GG=CBD9F79BH5;96FC?9F5;9 CF7CBH=B;9BH:99 !BGD97H=CB C: /CF? CBHF57H=B; (5FHM 5B8 5BM GI67CBGI@H5BH G<5@@D9FA=H=HMH<9+H5H95B8H<9 /=::989F5@D5FH=7=D5H=B;:IB8G5F9 IG98=BH<=G;F99A9BHHCF9J=9K5B8=BGD97HH<9DFC>97H57H=J=H=9G5B8:=@9G 5H5@@F95GCB56@9H=A9G8IF=B;H<9D9F:CFA5B79D9F=C8C:H<=G;F99A9BH +5:9HM CBHF57H=B;(5FHMG<5@@7CAD@MK=H<'+ F9;I@5H=CBG 5DD@=756@9 HC CBHF57H=B; (5FHM F9;5F8=B; B979GG5FM G5:9HM 9EI=DA9BH CF DFC798IF9G CBHF57H=B;(5FHMG<5@@7CAD@MK=H<G5:9HM=BGHFI7H=CBG=GGI986M =HM+5:9HM'::=79F5B8CH<9F=HMF9DF9G9BH5H=J9G CBHF57H=B;(5FHMD9FGCBB9@ G<5@@ K95F <5F8 <5HG 5B8 G5:9HM J9GHG 5H 5@@ H=A9G K<=@9 KCF?=B; CB H<9 7CBGHFI7H=CBDFC>97HG=H9 (IFGI5BHHCH<95IH<CF=HM7CBH5=B98=B.9<=7@9C89 Q =HM<5G89H9FA=B98H<5HGI7<5F95G5F9K=H<=BH<9@=A=HGC:H<9DFC>97H 5B85F9CD9BHCDI6@=7HF5::=7 CBHF57H=B;(5FHMG<5@@7CAD@MK=H<5@@C:H<9 F9EI=F9A9BHGG9H:CFH<=B =J=G=CBG 5B8 C:H<9.9<=7@9C89 CBHF57H=B; (5FHM G<5@@ H5?9 5@@ F95GCB56@M B979GG5FM DF975IH=CBG:CFG5:9 CD9F5H=CBC:=HGJ9<=7@9G5B8H<9DFCH97H=CBC:H<9HF5J9@=B;DI6@=7:FCA=B>IFM 5B885A5;9:FCAGI7<J9<=7@9G CBHF57H=B;(5FHMAIGH<5J95 =J=G=CBC: '77ID5H=CB5@+5:9HM5B8 95@H<$ '+ D9FA=HG5GCIH@=B98=B$56CF C89Q 5B8Q DF=CFHCH<9=B=H=5H=CBC:5BMDF57H=79GKCF?A9H<C8 CD9F5H=CBCFDFC79GGF9@5H98HCH<97CBGHFI7H=CBCF9L75J5H=CBC:HF9B7<9G K<=7<5F9:=J9:99HCF899D9F @5=AG =@986M=HMUGCBGHFI7H=CBCBHF57HCF !:7@5=AG5F9:=@98 6M=HMUG7CBGHFI7H=CB7CBHF57HCFF9@5H=B;HCKCF?D9F:CFA986MCBHF57H=B; (5FHMUGD9FGCBB9@5B8588=H=CB5@=B:CFA5H=CBCF5GG=GH5B79:FCACBHF57H=B; (5FHMUG D9FGCBB9@ =G F9EI=F98 =B CF89F HC 9J5@I5H9 CF 89:9B8 5;5=BGH GI7< 7@5=AG CBHF57H=B; (5FHM 5;F99G HC A5?9 =HG D9FGCBB9@ 5J5=@56@9 :CF 7CBGI@H5H=CBK=H<=HMUG7CBGHFI7H=CB7CBHF57H58A=B=GHF5H=CB5B8@9;5@GH5:: 5B8 :CF H9GH=ACBM =: B979GG5FM 5H 89DCG=H=CBG 5B8 5H HF=5@ CF 5F6=HF5H=CB DFC7998=B;G CBHF57H=B;(5FHMUGD9FGCBB9@H<5H=HM7CBG=89FG9GG9BH=5@HC 5GG=GH =B 89:9B8=B; 5;5=BGH 7CBGHFI7H=CB 7CBHF57HCF 7@5=AG K=@@ 69 A589 5J5=@56@9CBF95GCB56@9BCH=79:FCA=HM CBGI@H5H=CBCFH9GH=ACBMK=@@69 F9=A6IFG985HH<9G5A9F5H9G=B7@I8=B;HF5J9@7CGHGH<5H5F969=B;D5=8:CF CBHF57H=B; (5FHMUG D9FGCBB9@ G9FJ=79G IB89F H<=G ;F99A9BH +9FJ=79G C: CBHF57H=B;(5FHMUGD9FGCBB9@=B7CBB97H=CBK=H<=HMUG7CBGHFI7H=CB7CBHF57HCF 7@5=AGK=@@69D9F:CFA98DIFGI5BHHC5KF=HH9B7CBHF57H5A9B8A9BH =: B979GG5FM 9LH9B8=B; H<9 H9FA=B5H=CB 85H9 C: H<=G ;F99A9BH =BCF89F HC F9GC@J9H<97CBGHFI7H=CB7@5=AG &5H=CB5@$56CF*9@5H=CBGC5F89FH=:=75H=CB !B577CF85B79K=H< (I6@=7CBHF57HC89Q CBHF57H=B;(5FHM<9F96MGH5H9GIB89FD9B5@HM C:D9F>IFMH<5HBCACF9H<5BCB9:=B5@IB5DD95@56@9:=B8=B;C:7CBH9ADHC: 7CIFH6M5:989F5@7CIFH<5G699B=GGI985;5=BGHCBHF57H=B;(5FHMK=H<=BH<9 =AA98=5H9@MDF9798=B;HKC M95FD9F=C86975IG9C:CBHF57H=B;(5FHMUG:5=@IF9 HC7CAD@MK=H<5BCF89FC:5:989F5@7CIFHH<5HCF89FGCBHF57H=B;(5FHMHC 7CAD@MK=H<5BCF89FC:H<9&5H=CB5@$56CF*9@5H=CBGC5F8 CIBH9FD5FHG ,<=G;F99A9BHA5M699L97IH98=B7CIBH9FD5FHG 957<C:K<=7<G<5@@69899A98HC695BCF=;=B5@5B8GI7<7CIBH9FD5FHGG<5@@ 7CBGH=HIH9CB95B8H<9G5A9=BGHFIA9BH !BH9;F5H98 ;F99A9BH ,<=G ;F99A9BH=B7@I8=B; H<99L<=6=HG <9F9HC=GH<99BH=F97CAD@9H95B89L7@IG=J99LDF9GG=CBC:H<9IB89FGH5B8=B; C:H<9D5FH=9G !H=GIB89FGHCC8H<5HH<9F95F9BCCF5@5;F99A9BHG69HK99B H<9D5FH=9G<9F9HC5::97H=B;H<=G;F99A9BH5B8H<=G;F99A9BHGID9FG989G 5B875B79@G5BM5B85@@DF9J=CIGB9;CH=5H=CBG5FF5B;9A9BHG5;F99A9BHG 5B8IB89FGH5B8=B;G=:5BM69HK99BH<9D5FH=9G5B8BCB9G<5@@69IG98HC =BH9FDF9HH<=G;F99A9BH A9B8A9BH &C 5A9B8A9BH HC CF AC8=:=75H=CB C: H<=G ;F99A9BHG<5@@69J5@=8IB@9GGA589=BKF=H=B;5B85DDFCJ986MCBHF57H=B; (5FHM5B86MH<9=HMCIB7=@C:=HM ,<9D5FH=9G5;F99H<5HH<=GF9EI=F9A9BH :CFKF=HH9BAC8=:=75H=CBG75BBCH69K5=J985B8H<5H5BM5HH9ADH98K5=J9F G<5@@69JC=8 CBHF57H=B;(5FHMG<5@@CB@M7CAA9B79KCF?7CJ9F986M5B 5A9B8A9BH5:H9FH<95A9B8A9BH=G9L97IH985B8BCH=:=75H=CBHCDFC7998<5G 699BDFCJ=8986M=HMCBHF57H'::=79F +9J9F56=@=HM !BH<99J9BHH<5H5BMCB9CFACF9C:H<95FH=7@9G D<F5G9G G9BH9B79G 7@5IG9G D5F5;F5D<G CF G97H=CBG 7CBH5=B98=B H<=G ;F99A9BH G<5@@ 69 897@5F98 =BJ5@=8 CF IB9B:CF7956@9 GI7< =BJ5@=8=HM CF IB9B:CF7956=@=HM G<5@@ BCH 5::97H 5BM C: H<9 F9A5=B=B; 5FH=7@9G D<F5G9G G9BH9B79G 7@5IG9G D5F5;F5D<G CF G97H=CBG C: H<=G ;F99A9BH K<=7< 5F9 <9F96M897@5F985GG9J9F56@95B8G<5@@69=BH9FDF9H98HC75FFMCIHH<9=BH9BH C:H<9D5FH=9G<9F9IB89FIB@9GGH<9=BJ5@=8DFCJ=G=CB=GGCA5H9F=5@H<5H=HG =BJ5@=8=HM89DF=J9G9=H<9FD5FHMC:H<965G=769B9:=HC:H<9=F65F;5=BCFF9B89FG H<=G;F99A9BHA95B=B;@9GG -B:5=FIG=B9GG(F57H=79G@5=AG !B9BH9F=B;=BHCH<=G;F99A9BH CBHF57H=B; (5FHM C::9FG 5B8 5;F99G HC 5GG=;B HC =HM 5@@ F=;<HG H=H@9 5B8 =BH9F9GH=B5B8HC5@@75IG9GC:57H=CB=HA5M<5J9IB89F+97H=CBC:H<9 @5MHCB 7H - + Q CF IB89F H<9 5FHKF=;<H 7H <5DH9F 7CAA9B7=B;K=H<+97H=CB C:(5FHC: =J=G=CBC:H<9IG=B9GG5B8 (FC:9GG=CBGC895F=G=B;:FCADIF7<5G9GC:;CC8GG9FJ=79GCFA5H9F=5@G F9@5H98 HC H<=G ;F99A9BH ,<=G 5GG=;BA9BH G<5@@ 69 A589 5B8 697CA9 9::97H=J95HH<9H=A9=HMF9B89FG:=B5@D5MA9BHHCCBHF57H=B;(5FHMK=H<CIH :IFH<9F57?BCK@98;A9BHC:H<9D5FH=9G &C,<=F8 (5FHM9B9:=7=5F=9G /=H<H<99L79DH=CBC:H<9GD97=:=7 DFCJ=G=CBGG9H:CFH<=BH<=G;F99A9BHH<9F95F9BC=BH9B898H<=F8 D5FHM 69B9:=7=5F=9GIB89FH<=G;F99A9BH5B8BCGI7<CH<9FH<=F8D5FH=9GG<5@@<5J9 5BMF=;<HGCFC6@=;5H=CBG<9F9IB89F IH<CF=HM ,<9D9FGCBG9L97IH=B;H<=G;F99A9BHCB69<5@:C: 957<C:H<9D5FH=9G<9F9HCF9DF9G9BH5B8K5FF5BHH<5H=GI7<D5FHM=G8I@M CF;5B=N985B89L=GH=B;==H<9M5F98I@M5IH<CF=N98HC9L97IH95B889@=J9F H<=G;F99A9BHCB69<5@:C:G5=8D5FHM===6MGC9L97IH=B;H<=G;F99A9BH GI7<D5FHM=G:CFA5@@M6CIB8HCH<9DFCJ=G=CBGC:H<=G;F99A9BH5B8=JH<5H 9BH9F=B;=BHCH<=G;F99A9BH8C9GBCHJ=C@5H95BMDFCJ=G=CBC:5BM CH<9F ;F99A9BHHCK<=7<G5=8D5FHM=G6CIB8 ,<=G;F99A9BHG<5@@696=B8=B; IDCB H<9 <9=FG 9L97IHCFG 58A=B=GHF5HCFG GI779GGCFG 5B8 5GG=;BG C: H<9 D5FH=9G 2+! &,-* +'& '$$'/!& ( 3 9/13/2022 9/16/2022 L<=6=H (5;9 C: %564)8-5)(5700)4 L<=6=H 2+99HH57<983 KE^dZhd/KEDE' D EdE/E^W d/KE^ Zs/ ^ hE W>D^ZKZ/' WZK: d & Z>WZK: dEŽ͘ͲZ<>^Ͳϱϰϯϯ;ϬϭϰͿͮ/dzWZK: dEŽ͘ͲϮϬϭϭͲϬϱ Ϯϰ ^KW K&tKZ<WZK'ZD ' E Z> ^Z/Wd/KEK&Z Yh/Z ^ Zs/ ^ d^<ϭ͘ϬWZK: dDE' D Ed dz>/ZĞƐŝĚĞŶƚ ŶŐŝŶĞĞƌ;Z ͿƐŚĂůůŽƌŐĂŶŝnjĞĂŶĚĚĞǀĞůŽƉĂWƌŽũĞĐƚĞǀĞůŽƉŵĞŶƚdĞĂŵ;WdͿ͘DĞŵďĞƌƐŽĨƚŚĞWdƐŚĂůůŝŶĐůƵĚĞdz>/ ŽŶƐƚƌƵĐƚŝŽŶDĂŶĂŐĞŵĞŶƚZ ͕ĞƐŝŐŶWƌŽũĞĐƚDĂŶĂŐĞƌ͕dz>//ŶƐƉĞĐƚŽƌƐĂƐƌĞƋƵŝƌĞĚ͕^ƵďͲŽŶƐƵůƚĂŶƚƐĂƐƌĞƋƵŝƌĞĚĂŶĚŵĞŵďĞƌƐŽĨ ƚŚĞŝƚLJŽĨ>ĂYƵŝŶƚĂ;ŝƚLJͿ͘ d^<ϭ͘ϭ DKEd,>zWdD d/E'^ dz>/ƐŚĂůůŽƌŐĂŶŝnjĞĂŶĚĐŽŶĚƵĐƚDŽŶƚŚůLJWƌŽŐƌĞƐƐDĞĞƚŝŶŐƐƚŽĚŝƐĐƵƐƐƉƌŽŐƌĞƐƐŽĨĐŽŶƐƚƌƵĐƚŝŽŶƉƌŽũĞĐƚ͕ŝƐƐƵĞƐƚŽďĞƌĞƐŽůǀĞĚĂŶĚ ĂĐƚŝŽŶŝƚĞŵƐƚŽďĞĂĚĚƌĞƐƐĞĚ͘ ĞůŝǀĞƌĂďůĞƐ͗dz>/Z ƐŚĂůůĐŽŶƚĂĐƚĂůůŵĞŵďĞƌƐŽĨƚŚĞWdƚŽĐŽŽƌĚŝŶĂƚĞƚŚĞƐĐŚĞĚƵůĞĚŵĞĞƚŝŶŐĚĂƚĞ͘DĞĞƚŝŶŐEŽƚŝĐĞ͕ŐĞŶĚĂ͕ ĂŶĚDĞĞƚŝŶŐDŝŶƵƚĞƐƐŚĂůůďĞƉƌĞƉĂƌĞĚĨŽƌƚŚĞŵĞĞƚŝŶŐ͘ d^<ϭ͘Ϯ DKEd,>zWZK'Z ^^Z WKZd^ dz>/ƐŚĂůůƉƌĞƉĂƌĞƉƌŽŐƌĞƐƐƌĞƉŽƌƚƐƚŽƌĞĐŽƌĚƚŚĞƉƌŽŐƌĞƐƐŽĨƚŚĞĐŽŶƐƚƌƵĐƚŝŽŶƉƌŽũĞĐƚĂŶĚĂƐƐƵƉƉŽƌƚŝŶŐĚĂƚĂĨŽƌŝŶǀŽŝĐĞƐƉƌĞƐĞŶƚĞĚ ŵŽŶƚŚůLJƚŽƚŚĞŝƚLJ͘dŚĞWƌŽŐƌĞƐƐZĞƉŽƌƚƐŚĂůůŝŶĐůƵĚĞĂĐĐŽŵƉůŝƐŚĞĚƚĂƐŬƐĨŽƌƚŚĞŵŽŶƚŚ͕ĂŶƚŝĐŝƉĂƚĞĚƉƌŽŐƌĞƐƐĨŽƌƚŚĞŶĞdžƚŵŽŶƚŚ͕ ƉĞŶĚŝŶŐŝƐƐƵĞƐ͕ĂůŝƐƚŽĨŽŶƚƌĂĐƚŚĂŶŐĞKƌĚĞƌƐ;KͿ͕ĂůŝƐƚŽĨEŽƚŝĐĞŽĨWŽƚĞŶƚŝĂůůĂŝŵƐ;EKWͿ;ŝĨĂŶLJͿ͕ĂŶĚƐĐŚĞĚƵůĞĐŽŵƉůĞƚŝŽŶ ƚĂƌŐĞƚĚĂƚĞƐ͘ d^<ϭ͘ϯ Yh>/dzKEdZK> dz>/ƐŚĂůůŚĂǀĞĂƋƵĂůŝƚLJĐŽŶƚƌŽůƉůĂŶŝŶĞĨĨĞĐƚĚƵƌŝŶŐƚŚĞĞŶƚŝƌĞĐŽƵƌƐĞŽĨĐŽŶƐƚƌƵĐƚŝŽŶ͘ ĞůŝǀĞƌĂďůĞƐ͗dz>/ƐŚĂůůŚĂŶĚĚĞůŝǀĞƌƉƌŽŐƌĞƐƐƌĞƉŽƌƚƐǁŝƚŚƚŚĞŵŽŶƚŚůLJŝŶǀŽŝĐĞƐĂŶĚĚĞůŝǀĞƌWƌŽŐƌĞƐƐZĞƉŽƌƚƐƚŽƚŚĞŝƚLJĂƚŵŽŶƚŚůLJ WdŵĞĞƚŝŶŐƐ͘ d^<ϭ͘ϯ͘ϭ Yh>/dzKEdZK>W>E dz>/ƐŚĂůůĚĞǀĞůŽƉĂƉůĂŶĞƐƚĂďůŝƐŚŝŶŐĂƉƌŽĐĞƐƐƚŽĞŶƐƵƌĞĐĂůĐƵůĂƚŝŽŶƐƉĞƌĨŽƌŵĞĚĨŽƌĐŽŶƐƚƌƵĐƚŝŽŶĂƌĞŝŶĚĞƉĞŶĚĞŶƚůLJĐŚĞĐŬĞĚ͘dz>/ ƐŚĂůůĐŽŶĚƵĐƚƉĞƌŝŽĚŝĐĂƵĚŝƚƐŽĨƚŚĞĐŽŶƚƌĂĐƚĨŝůĞƐƚŽĞŶƐƵƌĞĂůůĚŽĐƵŵĞŶƚĂƚŝŽŶŝƐĨŝůĞĚĂƉƉƌŽƉƌŝĂƚĞůLJ͘ d^<ϭ͘ϯ͘Ϯ ^hKE^h>dEdYh>/dzKEdZK> dz>/ƐŚĂůůƌĞǀŝĞǁĞŶŐŝŶĞĞƌŝŶŐ^ƵďͲŽŶƐƵůƚĂŶƚƌĞƉŽƌƚƐƵďŵŝƚƚĂůƐƚŽĞŶƐƵƌĞĂƉƉƌŽƉƌŝĂƚĞďĂĐŬŐƌŽƵŶĚŝŶĨŽƌŵĂƚŝŽŶ͕ƐƚƵĚLJŵĞƚŚŽĚŽůŽŐLJ͕ ŝŶƚĞƌƉƌĞƚĂƚŝŽŶŽĨĚĂƚĂ͕ĨŽƌŵĂƚĂŶĚĐŽŶƚĞŶƚĂƌĞĐŽŵƉůĞƚĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞ>ŽĐĂůƐƐŝƐƚĂŶĐĞWƌŽĐĞĚƵƌĞƐDĂŶƵĂů;>WDͿ͕ ĂůƚƌĂŶƐŽŶƐƚƌƵĐƚŝŽŶDĂŶƵĂů͕ĂůƚƌĂŶƐƌŝĚŐĞZĞĐŽƌĚƐĂŶĚWƌŽĐĞĚƵƌĞƐDĂŶƵĂůƐ͕ĂŶĚŝƚLJƌĞƋƵŝƌĞŵĞŶƚƐ͘ d^<Ϯ͘ϬWZ ͲKE^dZhd/KE^ Zs/ ^ d^<Ϯ͘ϭ KE^dZhd/>/dzZ s/ t dz>/Z ƐŚĂůůƉĞƌĨŽƌŵĂĐŽŶƐƚƌƵĐƚĂďŝůŝƚLJƌĞǀŝĞǁŽĨƚŚĞĐŽŶƚƌĂĐƚƉůĂŶƐ͕ƐƉĞĐŝĨŝĐĂƚŝŽŶƐ͕ĂŶĚĞƐƚŝŵĂƚĞ;W^Θ ͿĂĐĐŽƌĚŝŶŐƚŽĂůƚƌĂŶƐ ŽŶƐƚƌƵĐƚĂďŝůŝƚLJZĞǀŝĞǁWƌŽĐĞƐƐ͘dz>/ƐŚĂůůƉĞƌĨŽƌŵĂŶŝŶĚĞƉĞŶĚĞŶƚĐŚĞĐŬŽĨƚŚĞƋƵĂŶƚŝƚŝĞƐ͘dz>/ƐŚĂůůƌĞǀŝĞǁ^ƉĞĐŝĨŝĐĂƚŝŽŶƐĨŽƌ ĐŽŵƉĂƚŝďŝůŝƚLJǁŝƚŚƉůĂŶƐĂŶĚĞƐƚŝŵĂƚĞ͘dz>/ƐŚĂůůǀĂůŝĚĂƚĞĞƐƚŝŵĂƚĞĨŽƌƌĞĂůŝƐƚŝĐƉƌŝĐĞƐ͕ĞƌƌŽƌƐĂŶĚͬŽƌŽŵŝƐƐŝŽŶƐ͘dz>/ƐŚĂůůƌĞǀŝĞǁƉůĂŶƐ ƐƉĞĐŝĨŝĐĂůůLJĐŚĞĐŬŝŶŐƐƚĂŐŝŶŐ͕ƵƚŝůŝƚLJĐŽŶĨůŝĐƚƐ͕ĂĚĞƋƵĂƚĞĂĐĐĞƐƐĨŽƌĐŽŶƐƚƌƵĐƚŝŽŶ͕ǁŚĞƚŚĞƌĐŽŶƐƚƌƵĐƚŝŽŶĚĞƚĂŝůƐĂƌĞĐŽŵƉůĞƚĞĂŶĚ ďƵŝůĚĂďůĞ͕ĂŵŽŶŐŽƚŚĞƌŝƚĞŵƐ͘ ĞůŝǀĞƌĂďůĞƐ͗ dz>/ ƐŚĂůů ƉƌŽǀŝĚĞ Ă ĐŚĞĐŬůŝƐƚ ŝĚĞŶƚŝĨLJŝŶŐ ĐŽŵƉůŝĂŶĐĞ͕ ĞƌƌŽƌƐĂŶĚͬŽƌ ŽŵŝƐƐŝŽŶƐ ŝŶ ƚŚĞ W^Θ ͕ ǁŝƚŚ ĐŽƌƌĞĐƚŝŽŶ ƌĞĐŽŵŵĞŶĚĂƚŝŽŶƐ͘WůĂŶƐƐŚĂůůďĞƌĞƚƵƌŶĞĚƚŽŽƌŝŐŝŶĂůĚĞƐŝŐŶĞƌǁŝƚŚŵĂƌŬͲƵƉƐĂŶĚĐŽŵŵĞŶƚƐ͘^ƉĞĐŝĨŝĐĂƚŝŽŶƐǁŝůůďĞĨůĂŐŐĞĚǁŚĞƌĞ ĂƉƉƌŽƉƌŝĂƚĞǁŝƚŚĞdžƉůĂŶĂƚŝŽŶƐŽĨŽŵŝƐƐŝŽŶ͕ĞƌƌŽƌƐ͕ĂŶĚƐƵŐŐĞƐƚĞĚĐŽƌƌĞĐƚŝŽŶƐ͘ d^<Ϯ͘Ϯ WZ Ͳ/W<' Z s/ t dz>/ƐŚĂůůƉĞƌĨŽƌŵĂƌĞǀŝĞǁŽĨŽŶƚƌĂĐƚŝĚWĂĐŬĂŐĞ͘dz>/ƐŚĂůůǀĞƌŝĨLJƚŚĂƚƚŚĞW^Θ ƉĂĐŬĂŐĞĐŽŵƉůŝĞƐǁŝƚŚĂůůĂƉƉůŝĐĂďůĞĨĞĚĞƌĂůĂŶĚ ^ƚĂƚĞƌĞŐƵůĂƚŝŽŶƐĂŶĚƉƌŽĐĞĚƵƌĞƐĂƐŽƵƚůŝŶĞĚŝŶƚŚĞĂůƚƌĂŶƐ>WD͘ ĞůŝǀĞƌĂďůĞƐ͗dz>/ƐŚĂůůƉƌŽǀŝĚĞĂĐŚĞĐŬůŝƐƚŝĚĞŶƚŝĨLJŝŶŐĐŽŵƉůŝĂŶĐĞ͕ĞƌƌŽƌƐĂŶĚͬŽƌŽŵŝƐƐŝŽŶƐŝŶƚŚĞďŝĚƉĂĐŬĂŐĞ͕ǁŝƚŚĐŽƌƌĞĐƚŝŽŶ ƌĞĐŽŵŵĞŶĚĂƚŝŽŶƐ͘ d^<Ϯ͘ϯ WZ Ͳ/D d/E' dz>/ƐŚĂůůƐĐŚĞĚƵůĞĂŶĚĐŽŶĚƵĐƚĂƉƌĞͲďŝĚŵĞĞƚŝŶŐ͘dz>/ƐŚĂůůĂƐƐŝƐƚ ĂŐĞŶĐLJ ǁŝƚŚ ĂĚǀĞƌƚŝƐŝŶŐ ĂƉƌĞͲďŝĚŵĞĞƚŝŶŐŝŶĂƉƉůŝĐĂďůĞ ŶĞǁƐƉĂƉĞƌƐĂŶĚƚƌĂĚĞŵĂŐĂnjŝŶĞƐ͘ 1 KE^dZhd/KEDE' D EdE/E^W d/KE^ Zs/ ^ hE W>D^ZKZ/' WZK: d & Z>WZK: dEŽ͘ͲZ<>^Ͳϱϰϯϯ;ϬϭϰͿͮ/dzWZK: dEŽ͘ͲϮϬϭϭͲϬϱ Ϯϱ ĞůŝǀĞƌĂďůĞ͗DĞĞƚŝŶŐEŽƚŝĐĞ͕ŐĞŶĚĂ͕ĂŶĚ^ŝŐŶͲ/Ŷ^ŚĞĞƚƐŚĂůůďĞƉƌĞƉĂƌĞĚĨŽƌƉƌĞͲďŝĚŵĞĞƚŝŶŐ͘dz>/ƐŚĂůůƉƌŽǀŝĚĞŵĞĞƚŝŶŐ ŵŝŶƵƚĞƐƚŽĂŐĞŶĐLJǁŝƚŚŝŶƚǁŽĚĂLJƐŽĨŵĞĞƚŝŶŐ͘ĐƚŝŽŶŝƚĞŵƐǁŝůůďĞĂƐƐŝŐŶĞĚƚŽĂƉƉƌŽƉƌŝĂƚĞƉĞƌƐŽŶŶĞůǁŝƚŚĂƚŝŵĞůŝŶĞĨŽƌ ĐŽŵƉůĞƚŝŽŶŽĨƚĂƐŬƐ͘dz>/ƐŚĂůůĂƐƐŝƐƚĂŐĞŶĐLJŝŶƉƌĞƉĂƌŝŶŐĂĚĚĞŶĚƵŵƚŽĐŽŶƚƌĂĐƚW^Θ ͕ŝĨŶĞĐĞƐƐĂƌLJ͘ d^<Ϯ͘ϰ /ͲKW E/E'D d/E' dz>/ƐŚĂůůƐĐŚĞĚƵůĞĂŶĚĐŽŶĚƵĐƚĂďŝĚͲŽƉĞŶŝŶŐŵĞĞƚŝŶŐƉĞƌŚĂƉƚĞƌϭϱ͘ϱŽĨƚŚĞĂůƚƌĂŶƐ>WD͘dz>/ƐŚĂůůĂƐƐŝƐƚƚŚĞŝƚLJǁŝƚŚ ĂĚǀĞƌƚŝƐŝŶŐĂďŝĚͲŽƉĞŶŝŶŐŵĞĞƚŝŶŐŝŶĂƉƉůŝĐĂďůĞŶĞǁƐƉĂƉĞƌƐĂŶĚƚƌĂĚĞŵĂŐĂnjŝŶĞƐ͘dz>/ǁŝůůĂƐƐŝƐƚƚŚĞŝƚLJǁŝƚŚƌĞƚĂŝŶŝŶŐƚŚĞ ĂƉƉƌŽƉƌŝĂƚĞĚŽĐƵŵĞŶƚƐĨŽƌƚŚĞƐƵĐĐĞƐƐĨƵůůŽǁďŝĚĚĞƌ͘ ĞůŝǀĞƌĂďůĞ͗DĞĞƚŝŶŐEŽƚŝĐĞ͕ŐĞŶĚĂ͕ĂŶĚ^ŝŐŶͲ/Ŷ^ŚĞĞƚƐŚĂůůďĞƉƌĞƉĂƌĞĚĨŽƌďŝĚͲŽƉĞŶŝŶŐŵĞĞƚŝŶŐ͘ŽŵƉůĞƚĞĚ>ŽĐĂůŐĞŶĐLJŝĚ KƉĞŶŝŶŐŚĞĐŬůŝƐƚƉĞƌ>WDŚĂƉƚĞƌϭϱ͘ d^<Ϯ͘ϱ /E>z^/^ dz>/ƐŚĂůůƌĞǀŝĞǁĂŶĚĂŶĂůLJnjĞĐŽŶƚƌĂĐƚŽƌ͛ƐďŝĚƐŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚŚĂƉƚĞƌϭϱ͘ϲŽĨƚŚĞ>WD͘dz>/ƐŚĂůůƌĞǀŝĞǁƚŚĞƵŶŝƚďŝĚƉƌŝĐĞƐŝŶ ĞĂĐŚďŝĚĨŽƌƌĞĂƐŽŶĂďůĞĐŽŶĨŽƌŵĂŶĐĞǁŝƚŚƚŚĞĞŶŐŝŶĞĞƌ͛ƐĞƐƚŝŵĂƚĞĂŶĚĐŽŵƉĂƌĞǁŝƚŚĞĂĐŚŽƚŚĞƌďŝĚƌĞĐĞŝǀĞĚ͘dz>/ƐŚĂůůĞǀĂůƵĂƚĞ ďŝĚƐĨŽƌƌĞƐƉŽŶƐŝǀĞŶĞƐƐĂŶĚĐŽŵƉůĞƚĞŶĞƐƐ͕ĂŶĚĂƐƐƵƌĞĐŽŵƉůŝĂŶĐĞǁŝƚŚ ƉƌŽŐƌĂŵ͕ƉĞƌƚŚĞ>WD͘ ĞůŝǀĞƌĂďůĞ͗dŚĞdz>/ƐŚĂůůŵĂŬĞƌĞĐŽŵŵĞŶĚĂƚŝŽŶƐƚŽĂŐĞŶĐLJŽŶĂĐĐĞƉƚĂŶĐĞŽĨĐŽŶƚƌĂĐƚŽƌ͛ƐďŝĚƐ͘ d^<Ϯ͘ϲ tZW<' dz>/ƐŚĂůůĐŽŵƉůĞƚĞƚŚĞǁĂƌĚWĂĐŬĂŐĞĨŽƌƚŚĞĐŽŶƚƌĂĐƚĂĨƚĞƌĂǁĂƌĚŽĨƚŚĞĐŽŶƚƌĂĐƚĂŶĚƉƌŝŽƌƚŽƐƵďŵŝƚƚŝŶŐƚŚĞĨŝƌƐƚŝŶǀŽŝĐĞ͕ŝŶ ĂĐĐŽƌĚĂŶĐĞǁŝƚŚŚĂƉƚĞƌϭϱ͘ϳŽĨƚŚĞ>WD͘ ĞůŝǀĞƌĂďůĞ͗ǁĂƌĚƉĂĐŬĂŐĞƚŽŝŶĐůƵĚĞƚŚĞĨŽůůŽǁŝŶŐ͗ ͻ>ŽĐĂůŐĞŶĐLJŽŶƚƌĂĐƚǁĂƌĚŚĞĐŬůŝƐƚͻ&ŝŶĂŶĐĞ>ĞƚƚĞƌ ͻĞƚĂŝů ƐƚŝŵĂƚĞͻZ ͛ƐŽŶƐƚƌƵĐƚŝŽŶŽŶƚƌĂĐƚĚŵŝŶŝƐƚƌĂƚŝŽŶŚĞĐŬůŝƐƚ ͻŝƚLJŽĨ>ĂYƵŝŶƚĂ͛ƐŝĚĚĞƌ ŽŵŵŝƚŵĞŶƚ d^<Ϯ͘ϳ WZK: dt><Ͳd,ZKh', dz>/ƐŚĂůůƐĐŚĞĚƵůĞĂŶĚĂĚŵŝŶŝƐƚĞƌĂƉƌŽũĞĐƚǁĂůŬͲƚŚƌŽƵŐŚǁŝƚŚdz>/ƚĞĂŵŵĞŵďĞƌƐ͕ŝƚLJƉĞƌƐŽŶŶĞů͕ĂŶĚĚĞƐŝŐŶĞŶŐŝŶĞĞƌƐ͘ ĞůŝǀĞƌĂďůĞ͗dz>/ƐŚĂůůĐŽŶƚĂĐƚĞĂĐŚŵĞŵďĞƌ͕ƚĂŬĞŶŽƚĞƐĚƵƌŝŶŐǁĂůŬĂŶĚĚĞůŝǀĞƌŵŝŶƵƚĞƐƚŽƉĂƌƚŝĐŝƉĂŶƚƐǁŝƚŚŝŶƚǁŽĚĂLJƐĂĨƚĞƌ ǁĂůŬͲƚŚƌŽƵŐŚ͘ d^<Ϯ͘ϴ WZK: d</<ͲK&&D d/E' dz>/ƐŚĂůůƐĐŚĞĚƵůĞĂŶĚĂĚŵŝŶŝƐƚĞƌĂƉƌŽũĞĐƚŬŝĐŬͲŽĨĨŵĞĞƚŝŶŐǁŝƚŚdz>/ƚĞĂŵŵĞŵďĞƌƐ͕ŝƚLJ͕ĂŶĚĚĞƐŝŐŶĞŶŐŝŶĞĞƌƐ͘dŚĞŵĞĞƚŝŶŐ ŝŶƚĞŶƚǁŝůůďĞƚŽŽďƚĂŝŶŝƐƐƵĞƐĂŶĚĐŽŶĐĞƌŶƐƚŚĂƚŝƚLJƉĞƌƐŽŶŶĞůǁŽƵůĚůŝŬĞĂĚĚƌĞƐƐĞĚĂƚƚŚĞƉƌĞͲĐŽŶƐƚƌƵĐƚŝŽŶŵĞĞƚŝŶŐ͘ ĞůŝǀĞƌĂďůĞ͗dz>/ƐŚĂůůĐŽŶƚĂĐƚĞĂĐŚŵĞŵďĞƌ͕ƚĂŬĞŵĞĞƚŝŶŐŶŽƚĞƐ͕ĂŶĚĚĞůŝǀĞƌŵŝŶƵƚĞƐƚŽƉĂƌƚŝĐŝƉĂŶƚƐǁŝƚŚŝŶƚǁŽĚĂLJƐĂĨƚĞƌǁĂůŬͲ ƚŚƌŽƵŐŚ͘ d^<Ϯ͘ϵ WZ ͲKE^dZhd/KED d/E' dz>/ƐŚĂůůƐĐŚĞĚƵůĞĂŶĚĐŽŶĚƵĐƚĂƉƌĞͲĐŽŶƐƚƌƵĐƚŝŽŶŵĞĞƚŝŶŐǁŝƚŚĂƉƉƌŽǀĞĚĐŽŶƚƌĂĐƚŽƌ͘dz>/ƐŚĂůůĐŽŶƚĂĐƚĂĚĚŝƚŝŽŶĂůŝƚLJƉĞƌƐŽŶŶĞů͕ ŵĞŵďĞƌƐŽĨƚŚĞĐŽŶƚƌĂĐƚŽƌ͛ƐƚĞĂŵ͕ůŽĐĂůĂƵƚŚŽƌŝƚŝĞƐ;ƉŽůŝĐĞ͕ĨŝƌĞ͕ĞƚĐ͘Ϳ͕ĂůƚƌĂŶƐ>ŽĐĂůƐƐŝƐƚĂŶĐĞ͕ĚĞƐŝŐŶĞŶŐŝŶĞĞƌ͕ƉĞƌƐŽŶŶĞůĨƌŽŵ st͕sĞƌŝnjŽŶ͕//͕ĂŶĚdŝŵĞtĂƌŶĞƌ͘dŽƉŝĐƐǁŝůůŝŶĐůƵĚĞŝƚĞŵƐƐƵĐŚĂƐĂŐĞŶĐLJĞdžƉĞĐƚĂƚŝŽŶƐ͕ůĂďŽƌĐŽŵƉůŝĂŶĐĞ͕ ƋƵĂů ŵƉůŽLJŵĞŶƚ KƉƉŽƌƚƵŶŝƚLJ; KͿĐŽŵƉůŝĂŶĐĞ͕ƐĂĨĞƚLJ͕ĞŶǀŝƌŽŶŵĞŶƚĂůƉĞƌŵŝƚƐ͕^tWWW͕ŵĂƚĞƌŝĂůƐƚĞƐƚŝŶŐĂŶĚĐŽŵƉůŝĂŶĐĞ͕ŽŶƚƌĂĐƚŽƌƐƵďŵŝƚƚĂůƐ͕ ĞŶĐƌŽĂĐŚŵĞŶƚƉĞƌŵŝƚƐ͕ƋƵĂůŝƚLJĐŽŶƚƌŽůĂŶĚƋƵĂůŝƚLJĂƐƐƵƌĂŶĐĞĞdžƉĞĐƚĂƚŝŽŶƐ͕ĂŶĚƉĂLJŵĞŶƚƉƌŽĐĞƐƐ͘ ĞůŝǀĞƌĂďůĞ͗DĞĞƚŝŶŐEŽƚŝĐĞ͕ŐĞŶĚĂ͕ĂŶĚ^ŝŐŶͲ/Ŷ^ŚĞĞƚƐŚĂůůďĞƉƌĞƉĂƌĞĚĨŽƌƉƌĞͲĐŽŶƐƚƌƵĐƚŝŽŶŵĞĞƚŝŶŐ͘;dŚĞŵĞĞƚŝŶŐĂŐĞŶĚĂ ǁŝůůďĞƉƌŽǀŝĚĞĚƚŽŝƚLJƉĞƌƐŽŶŶĞůĨŝǀĞĚĂLJƐƉƌŝŽƌƚŽŵĞĞƚŝŶŐƚŽƐĞĐƵƌĞĐŽŶĐƵƌƌĞŶĐĞŽŶƚŽƉŝĐƐƚŽďĞĐŽǀĞƌĞĚ͘ͿĐƚŝŽŶŝƚĞŵƐǁŝůůďĞ ĂƐƐŝŐŶĞĚƚŽĂƉƉƌŽƉƌŝĂƚĞƉĞƌƐŽŶŶĞůǁŝƚŚĂƚŝŵĞůŝŶĞĨŽƌĐŽŵƉůĞƚŝŽŶŽĨƚĂƐŬƐ͘dz>/ƐŚĂůůƉƌŽǀŝĚĞŵĞĞƚŝŶŐŵŝŶƵƚĞƐƚŽĂƚƚĞŶĚĞĞƐǁŝƚŚŝŶ ƚǁŽĚĂLJƐŽĨŵĞĞƚŝŶŐ͘ d^<Ϯ͘ϭϬ WZ ͲKE^dZhd/KEW,KdKKhD Edd/KE dz>/ƐŚĂůůĐŽŶĚƵĐƚƉƌĞͲĐŽŶƐƚƌƵĐƚŝŽŶƉŚŽƚŽĂŶĚǀŝĚĞŽĚŽĐƵŵĞŶƚĂƚŝŽŶŽĨƚŚĞĞdžŝƐƚŝŶŐĐŽŶĚŝƚŝŽŶƐŽŶƚŚĞƉƌŽũĞĐƚƐŝƚĞ͘ ĞůŝǀĞƌĂďůĞ͗dz>/ƐŚĂůůƉƌŽǀŝĚĞƚŚĞĂŐĞŶĐLJǁŝƚŚĐŽŵƉĂĐƚĚŝƐŬƐĂŶĚǀŝĚĞŽƐĐŽŶƚĂŝŶŝŶŐƉƌĞͲĐŽŶƐƚƌƵĐƚŝŽŶĚŽĐƵŵĞŶƚĂƚŝŽŶ͘ŽƉŝĞƐŽĨ ĚŝƐŬƐĂŶĚǀŝĚĞŽƐǁŝůůďĞŵĂĚĞĂŶĚŝŶƐĞƌƚĞĚŝŶƚŽƚŚĞƉƌŽũĞĐƚĨŝůĞƐŽŶƐŝƚĞ͘ d^<Ϯ͘ϭϭ Z s/ tWZK: dW ZD/dZ Yh/Z D Ed^ dz>/Z ͕ƐƐŝƐƚĂŶƚZ ͕ĂŶĚŽƚŚĞƌƐƵďͲĐŽŶƐƵůƚĂŶƚƐƐŚĂůůƌĞǀŝĞǁƚŚĞƉƌŽũĞĐƚƉĞƌŵŝƚƌĞƋƵŝƌĞŵĞŶƚƐ͕ƉĂLJŝŶŐƉĂƌƚŝĐƵůĂƌĂƚƚĞŶƚŝŽŶƚŽƚŚĞ ƉŽƚĞŶƚŝĂůŝŵƉĂĐƚƚŽŽŶƚƌĂĐƚŽƌƉůĂŶĂŶĚƐĐŚĞĚƵůĞ͘ 2 KE^dZhd/KEDE' D EdE/E^W d/KE^ Zs/ ^ hE W>D^ZKZ/' WZK: d & Z>WZK: dEŽ͘ͲZ<>^Ͳϱϰϯϯ;ϬϭϰͿͮ/dzWZK: dEŽ͘ͲϮϬϭϭͲϬϱ Ϯϲ ĞůŝǀĞƌĂďůĞ͗dz>/ƐŚĂůůƐƵŵŵĂƌŝnjĞƐĂůŝĞŶƚƉŽŝŶƚƐĂďŽƵƚĞĂĐŚƉĞƌŵŝƚĂŶĚĚŝƐĐƵƐƐĂŶLJŝƐƐƵĞƐǁŝƚŚƚŚĞŝƚLJ͘dŝŵĞǁŝůůďĞĂůůŽǁĞĚĂƚ ƚŚĞƉƌĞĐŽŶƐƚƌƵĐƚŝŽŶŵĞĞƚŝŶŐƚŽĚŝƐĐƵƐƐƉƌŽũĞĐƚƉĞƌŵŝƚƐ͘ d^<ϯ͘ϬKE^dZhd/KE^ Zs/ ^ d^<ϯ͘ϭ W Z&KZDKE^dZhd/KEDE' D Ed͕/E^W d/KE͕ED/E/^dZd/KE dz>/ǁŝůůƉĞƌĨŽƌŵĂůůĐŽŶƐƚƌƵĐƚŝŽŶŵĂŶĂŐĞŵĞŶƚ͕ŝŶƐƉĞĐƚŝŽŶ͕ĂŶĚĂĚŵŝŶŝƐƚƌĂƚŝŽŶŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚĂůůƌĞƋƵŝƌĞŵĞŶƚƐůŝƐƚĞĚŝŶƚŚĞZ&W ĨŽƌŽŶƐƚƌƵĐƚŝŽŶDĂŶĂŐĞŵĞŶƚ^ĞƌǀŝĐĞƐĨŽƌƚŚĞƵŶĞWĂůŵƐZŽĂĚƌŝĚŐĞWƌŽũĞĐƚ͘DĂŶĂŐĞŵĞŶƚĂŶĚŝŶƐƉĞĐƚŝŽŶǁŝůůďĞƉĞƌĨŽƌŵĞĚ ŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞWůĂŶƐĂŶĚ^ƉĞĐŝĨŝĐĂƚŝŽŶƐ͕ĂůƚƌĂŶƐ^ƚĂŶĚĂƌĚƐ͕^ƚĂŶĚĂƌĚ^ƉĞĐŝĨŝĐĂƚŝŽŶƐĨŽƌWƵďůŝĐtŽƌŬƐŽŶƐƚƌƵĐƚŝŽŶ͕ĂŶĚŝƚLJ ƌĞƋƵŝƌĞŵĞŶƚƐĂƐŶĞĐĞƐƐĂƌLJĨŽƌƚŚĞƉƌŽũĞĐƚƚŽĂƐƐƵƌĞĐŽŶƚƌĂĐƚĐŽŵƉůŝĂŶĐĞĂŶĚ&ĞĚĞƌĂůƌĞŝŵďƵƌƐĞŵĞŶƚĂƐŽƵƚůŝŶĞĚŝŶƚŚĞ>WDĂŶĚ ƚŚĞĂůƚƌĂŶƐŽŶƐƚƌƵĐƚŝŽŶDĂŶƵĂů͘ďƌŝĞĨĚĞƐĐƌŝƉƚŝŽŶŽĨƐŽŵĞŽĨƚŚĞŵĂũŽƌĂƐƉĞĐƚƐŽĨƚŚŝƐǁŽƌŬ͗ĞůŝǀĞƌĂďůĞ͗ĞůŝǀĞƌĂďůĞƐĨŽƌĞĂĐŚ ŝƚĞŵďĞůŽǁǁŝůůǀĂƌLJĚĞƉĞŶĚŝŶŐŽŶŶĂƚƵƌĞŽĨƚĂƐŬ͘ĐŽƉLJŽĨĂůůĚĞůŝǀĞƌĂďůĞŝƚĞŵƐĂƐĂƌĞƐƵůƚŽĨƚĂƐŬŝĚĞŶƚŝĨŝĞĚďĞůŽǁƐŚĂůůďĞŬĞƉƚŝŶ ƚŚĞĐŽŶƚƌĂĐƚĨŝůĞƐŽŶƐŝƚĞĂƚƚŚĞŽŶƚƌĂĐƚŽƌƉƌŽǀŝĚĞĚĨŝĞůĚŽĨĨŝĐĞ͘ d^<ϯ͘ϭ͘ϭ KEdZdKhD Ed^͕W>E^͕^W /&/d/KE^͕EW ZD/d^ dz>/͛ƐZ ĂŶĚ/ŶƐƉĞĐƚŽƌ;ƐͿǁŝůůŚĂǀĞĂĐŽŵƉůĞƚĞƵŶĚĞƌƐƚĂŶĚŝŶŐŽĨĂůůĐŽŶƚƌĂĐƚĚŽĐƵŵĞŶƚƐĂŶĚƚŚĞŝƌĂƉƉůŝĐĂďŝůŝƚLJƚŽƚŚĞƐƉĞĐŝĨŝĐŝƚĞŵƐ ŽĨǁŽƌŬ͘ d^<ϯ͘ϭ͘Ϯ KhD EdKEdZK>&/>/E' dz>/͛ƐZ ĂŶĚK ƐŚĂůůƐĞƚƵƉĂŶĚŵĂŝŶƚĂŝŶƚŚĞĐŽŶƚƌĂĐƚĨŝůŝŶŐƐLJƐƚĞŵŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞĂůƚƌĂŶƐŽŶƐƚƌƵĐƚŝŽŶDĂŶƵĂůĂŶĚ>WD͘ &ŝůĞƐŝŶĐůƵĚĞ͕ďƵƚŶŽƚďĞůŝŵŝƚĞĚƚŽ͕ĂůůĐŽŶƚƌĂĐƚƐ͕ƉůĂŶƐĂŶĚƐƉĞĐŝĨŝĐĂƚŝŽŶƐĂŶĚĂƉƉůŝĐĂďůĞĂĚĚĞŶĚĂ͕ĂůůĐŽƌƌĞƐƉŽŶĚĞŶĐĞ͕ƉƌĞͲ ĐŽŶƐƚƌƵĐƚŝŽŶĐŚĞĐŬůŝƐƚƐ͕ƐƵďŵŝƚƚĂůƐ͕KƐ͕ĚŝĂƌŝĞƐ͕ŵŽŶƚŚůLJƉƌŽŐƌĞƐƐƉĂLJŵĞŶƚƐ͕ĐĞƌƚŝĨŝĐĂƚĞƐŽĨĐŽŵƉůŝĂŶĐĞ͕ƐƵƌǀĞLJƌĞƋƵĞƐƚƐ͕Ăůů K ĐŽŵƉůŝĂŶĐĞƉĂƉĞƌǁŽƌŬ͕Z&/ĚŽĐƵŵĞŶƚƐ͕ƉĞƌŵŝƚŝŶƐƉĞĐƚŝŽŶƐ͕ĂŶĚŵĂƚĞƌŝĂůƐƚĞƐƚŝŶŐĚŝĂƌŝĞƐĂŶĚƐƉƌĞĂĚƐŚĞĞƚƐ͘ d^<ϯ͘ϭ͘ϯ KDW/>d/KEK&Z KZ^;KhEtKZ<KK<^Ϳ dz>/͛Ɛ/ŶƐƉĞĐƚŽƌƐŚĂůůŵĂŝŶƚĂŝŶĂƐĞƚŽĨďŽƵŶĚĚŽĐƵŵĞŶƚƐƚŽƚƌĂĐŬƌĞĐŽƌĚŽĨƋƵĂŶƚŝƚŝĞƐĐŽŶƐƚƌƵĐƚĞĚ͕ĚĂŝůLJĂŶĚǁĞĞŬůLJƌĞƉŽƌƚƐ͕ ƉŚŽƚŽŐƌĂƉŚƐĂŶĚŽƚŚĞƌŝƚĞŵƐĂƐŶĞĐĞƐƐĂƌLJ͘ d^<ϯ͘ϭ͘ϰ ^ >/E ^, h> dz>/͛ƐZ ĂŶĚ/ŶƐƉĞĐƚŽƌǁŝůůƌĞǀŝĞǁƚŚĞďĂƐĞůŝŶĞWDƐĐŚĞĚƵůĞƐƵďŵŝƚƚĞĚďLJƚŚĞŽŶƚƌĂĐƚŽƌĂŶĚǁŽƌŬĐůŽƐĞůLJǁŝƚŚƚŚĞŽŶƚƌĂĐƚŽƌ ƵŶƚŝůŝƚŝƐĂĐĐĞƉƚĂďůĞ͘dz>/͛ƐZ ĂŶĚ/ŶƐƉĞĐƚŽƌǁŝůůƌĞǀŝĞǁŵŽŶƚŚůLJĂƐĞůŝŶĞ^ĐŚĞĚƵůĞƵƉĚĂƚĞƐĂŶĚǀĞƌŝĨLJĂĐĐƵƌĂĐLJ͘dz>/͛ƐZ ǁŽƌŬǁŝƚŚ ŽŶƚƌĂĐƚŽƌƚŽŵĂŝŶƚĂŝŶƚŚĞƉƌŽũĞĐƚƐĐŚĞĚƵůĞƚŽƐŚŽǁĐƵƌƌĞŶƚĐŽŶĚŝƚŝŽŶƐĂŶĚƐƵŐŐĞƐƚƌĞǀŝƐŝŽŶƐĂƐŶĞĐĞƐƐĂƌLJ͘dz>/͛ƐZ ǁŝůůĂůƐŽƌĞǀŝĞǁ ŽŶƚƌĂĐƚŽƌ͛ƐǁĞĞŬůLJƵƉĚĂƚĞƐ͕ƚŽďĞƐƵďŵŝƚƚĞĚŽŶƚŚĞůĂƐƚǁŽƌŬŝŶŐĚĂLJŽĨƚŚĞǁĞĞŬ͕ĂŶĚƉƌŽǀŝĚĞĐŽŵŵĞŶƚƐĂŶĚͬŽƌĐŽŶĐĞƌŶƐ͘ d^<ϯ͘ϭ͘ϰ͘ϭ KKZ/Ed/KEt/d,s>/E<WZK: d dz>/ǁŝůůĐŽŽƌĚŝŶĂƚĞǁŝƚŚƚŚĞs>ŝŶŬWƌŽũĞĐƚĂŶĚƐĞŐƌĞŐĂƚĞĐŽŶƚƌĂĐƚŽƌ͛ƐĐŽƐƚƐĂŶĚŝƚĞŵƉĂLJŵĞŶƚƐŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞ ĚŝĨĨĞƌĞŶƚĨƵŶĚŝŶŐƐŽƵƌĐĞƐ͘ d^<ϯ͘ϭ͘ϱ />z/E^W d/KE dz>/͛ƐZ ĂŶĚ/ŶƐƉĞĐƚŽƌƐŚĂůůƉĞƌĨŽƌŵĚĂŝůLJŝŶƐƉĞĐƚŝŽŶŽĨĂůůŽŶƚƌĂĐƚŽƌƐ͛ĂĐƚŝǀŝƚŝĞƐ͘dz>/ǁŝůůĞŶƐƵƌĞĐŽŵƉůŝĂŶĐĞǁŝƚŚĐŽŶƚƌĂĐƚ ĚŽĐƵŵĞŶƚƐ͘dz>/͛ƐZ ĂŶĚ/ŶƐƉĞĐƚŽƌƐŚĂůůĞǀĂůƵĂƚĞ͕ĂƉƉƌŽǀĞ͕ŽƌƌĞũĞĐƚƚŚĞŽŶƚƌĂĐƚŽƌ͛ƐĂŶĚ^ƵďͲŽŶƚƌĂĐƚŽƌ͛ƐǁŽƌŬŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚ ĐŽŶƚƌĂĐƚĚŽĐƵŵĞŶƚƐ͘dz>/ǁŝůůƉůĂĐĞƚŚĞŝƚLJ͛ƐŝŶƚĞƌĞƐƚĂƐƚŚĞƚŽƉƉƌŝŽƌŝƚLJƚŚƌŽƵŐŚŽƵƚĐŽŶƐƚƌƵĐƚŝŽŶĚƵƌĂƚŝŽŶ͘ d^<ϯ͘ϭ͘ϲ />z/Z/ ^ dz>/͛ƐZ ĂŶĚ/ŶƐƉĞĐƚŽƌƐŚĂůůƌĞĐŽƌĚĂůůŝŶƐƉĞĐƚŝŽŶŽďƐĞƌǀĂŶĐĞƐŽŶĂĚĂŝůLJĚŝĂƌLJĨŽƌŵ͘dŚŝƐŝŶĨŽƌŵĂƚŝŽŶǁŝůůŝŶĐůƵĚĞďƵƚŶŽƚď ĞůŝŵŝƚĞĚ ƚŽũŽďƐƚĂŵƉ͕ĚĂƚĞ͕ǁĞĂƚŚĞƌ͕ŝƚĞŵŽĨǁŽƌŬƉĞƌĨŽƌŵĞĚ͕ŚŽƵƌƐŽĨǁŽƌŬƉĞƌĨŽƌŵĞĚ͕ŵĞĂƐƵƌĞŵĞŶƚŽĨŝƚĞŵƐŝŶƐƚĂůůĞĚ͕ǁŽƌŬĞƌƐŶĂŵĞƐ ĂŶĚĐůĂƐƐŝĨŝĐĂƚŝŽŶƐ͕ĞƋƵŝƉŵĞŶƚŶƵŵďĞƌƐ͕ƐƵďĐŽŶƚƌĂĐƚŽƌ͛ƐƉĞƌƐŽŶŶĞů͕ĐŽŶǀĞƌƐĂƚŝŽŶƐ͕ĐŽŶĨůŝĐƚƐĂŶĚƌĞƐŽůƵƚŝŽŶƐ͕ĂŶĚŶŽŶͲĐŽŵƉůŝĂŶĐĞ ;ŝĨŶĞĐĞƐƐĂƌLJͿ͘ d^<ϯ͘ϭ͘ϳ WZK: dW ZD/d^ dz>/͛ƐZ ͕K ͕ĂŶĚ/ŶƐƉĞĐƚŽƌƐŚĂůůŵĂŝŶƚĂŝŶĂĐŽƉLJŽĨĂůůƉƌŽũĞĐƚƉĞƌŵŝƚƐŝŶƚŚĞĐŽŶƐƚƌƵĐƚŝŽŶƚƌĂŝůĞƌĂŶĚŝŶƚŚĞŝƌĚĂŝůLJǁŽƌŬŬ͘ d^<ϯ͘ϭ͘ϴ KD ^d/td ZE^E/dZz^ t Z/DWZKs D Ed^ dz>/͛ƐZ ĂŶĚ/ŶƐƉĞĐƚŽƌƐŚĂůůĐŽŽƌĚŝŶĂƚĞǁŝƚŚŽĂĐŚĞůůĂsĂůůĞLJtĂƚĞƌŝƐƚƌŝĐƚ;stͿĨŽƌƌĞůŽĐĂƚŝŽŶ͕ƌĞŵŽǀĂů͕ĂŶĚƉƌŽƚĞĐƚŝŽŶŽĨƚŚĞŝƌ ĨĂĐŝůŝƚŝĞƐ͘dz>/͛ƐZ ǁŝůůĞŶƐƵƌĞŽŶƚƌĂĐƚŽƌĐŽŵƉůŝĂŶĐĞǁŝƚŚƉůĂŶƐ͕ƐƉĞĐŝĨŝĐĂƚŝŽŶƐ͕ĂŶĚĂůůƌĞƋƵŝƌĞŵĞŶƚƐĨƌŽŵst͘dz>/͛Ɛ/ŶƐƉĞĐƚŽƌ ǁŝůůŵŽŶŝƚŽƌĂŶĚĚŽĐƵŵĞŶƚĂůůǁŽƌŬĂƐƐŽĐŝĂƚĞĚǁŝƚŚstĨĂĐŝůŝƚŝĞƐ͘ d^<ϯ͘ϭ͘ϵ W,KdK>K' dz>/͛Ɛ/ŶƐƉĞĐƚŽƌǁŝůůŵĂŬĞĂƉŚŽƚŽůŽŐŽĨƚŚĞƉƌŽũĞĐƚ͘WŚŽƚŽƐǁŝůůŝŶĐůƵĚĞĂůůƉƌĞͲĞdžŝƐƚŝŶŐĐŽŶĚŝƚŝŽŶƐ͕ǁŽƌŬͲŝŶͲƉƌŽŐƌĞƐƐ͕ĚŝƐƉƵƚĞĚǁŽƌŬ ĂŶĚŝƐƐƵĞƐŽĨĐŽŶƚƌĂĐƚŶŽŶͲĐŽŵƉůŝĂŶĐĞ͕^tWWWĂŶĚWDϭϬǀŝŽůĂƚŝŽŶƐ͕ĞdžƚƌĂǁŽƌŬ͕ĂŶĚĐŽŵƉůĞƚĞĚǁŽƌŬ͘ 3 KE^dZhd/KEDE' D EdE/E^W d/KE^ Zs/ ^ hE W>D^ZKZ/' WZK: d & Z>WZK: dEŽ͘ͲZ<>^Ͳϱϰϯϯ;ϬϭϰͿͮ/dzWZK: dEŽ͘ͲϮϬϭϭͲϬϱ Ϯϳ d^<ϯ͘ϭ͘ϭϬ t <>z/Z/ ^ dz>/͛ƐZ ƐŚĂůůĐƌĞĂƚĞĂǁĞĞŬůLJĚŝĂƌLJ͘ŝĂƌLJƐŚĂůůŝŶĐůƵĚĞŐĞŶĞƌĂůĐŽŶƚƌĂĐƚŽƌ͛ƐĂĐƚŝǀŝƚŝĞƐŽŶĂĚĂŝůLJďĂƐŝƐ͕ǁŽƌŬŝŶŐĚĂLJŝĚĞŶƚŝĨŝĐĂƚŝŽŶ͕ ƉĞƌĐĞŶƚƉƌŽũĞĐƚĐŽŵƉůĞƚĞ͕ƉĞƌĐĞŶƚƉƌŽũĞĐƚƌĞŵĂŝŶŝŶŐ͕ĐŽŶǀĞƌƐĂƚŝŽŶƐǁŝƚŚŽŶƚƌĂĐƚŽƌƐ͛^ƵƉĞƌŝŶƚĞŶĚĞŶƚĂŶĚ&ŽƌĞŵĞŶ͕ƌĞƐŽůƵƚŝŽŶƐŽĨ ĐŽŶĨůŝĐƚƐ͕ĂŶĚƐƵďŵŝƚƚĂůƐƌĞĐĞŝǀĞĚ͘ d^<ϯ͘ϭ͘ϭϭ t <>z^dd D EdK&tKZ</E'z^;t^tͿ dz>/͛ƐZ ƐŚĂůůĐƌĞĂƚĞĂt^tƐƉƌĞĂĚƐŚĞĞƚĂŶĚƐƵďŵŝƚƚŽŽŶƚƌĂĐƚŽƌŽŶĂǁĞĞŬůLJďĂƐŝƐ͘t^tĨŽƌŵƐŚĂůůďĞŝŶĂůƚƌĂŶƐĨŽƌŵĂƚĂŶĚ ƚƌĂĐŬǁŽƌŬŝŶŐĚĂLJƐ͕ŶŽŶͲǁŽƌŬŝŶŐĚĂLJƐ͕ŚŽůŝĚĂLJƐ͕ŝŶĐůĞŵĞŶƚǁĞĂƚŚĞƌ͕ǁŽƌŬŝŶŐĚĂLJƐŝŶǁŚŝĐŚŶŽǁŽƌŬǁĂƐƉĞƌĨŽƌŵĞĚ͕ƚŝŵĞĞdžƚĞŶƐŝŽŶ Ɛ͕ ƉĞƌĐĞŶƚƚŝŵĞĐŽŵƉůĞƚĞ͕ĂŶĚƉĞƌĐĞŶƚǁŽƌŬĐŽŵƉůĞƚĞ͘ d^<ϯ͘ϭ͘ϭϮ KKZ/Ed t/d,/dz E'/E ZEKd, Z/dz WZdD Ed^ dz>/͛ƐZ ƐŚĂůůĐŽŽƌĚŝŶĂƚĞǁŝƚŚƚŚĞŝƚLJ ŶŐŝŶĞĞƌĂŶĚŽƚŚĞƌĂƉƉůŝĐĂďůĞŝƚLJƉĞƌƐŽŶŶĞůƚŽĚŝƐĐƵƐƐƉƌŽũĞĐƚƉƌŽŐƌĞƐƐ͕ŝƐƐƵĞƐ͕ĂŶĚĐŽƐƚƐ ƉƌŝŽƌƚŽǁĞĞŬůLJƉƌŽŐƌĞƐƐŵĞĞƚŝŶŐƐ͘ d^<ϯ͘ϭ͘ϭϯ t <>zKE^dZhd/KEWZK'Z ^^D d/E'^ dz>/͛ƐZ ƐŚĂůůĐŽŶĚƵĐƚǁĞĞŬůLJĐŽŽƌĚŝŶĂƚŝŽŶŵĞĞƚŝŶŐƐǁŝƚŚƚŚĞŽŶƚƌĂĐƚŽƌ͕ŝƚLJƉĞƌƐŽŶŶĞů͕ĞƐŝŐŶ ŶŐŝŶĞĞƌ͕^ƵďͲŽŶƐƵůƚĂŶƚƐ͕ůŽĐĂů ďƵƐŝŶĞƐƐŽǁŶĞƌƐ͕ĂƉƉůŝĐĂďůĞƵƚŝůŝƚLJƌĞƉƌĞƐĞŶƚĂƚŝǀĞƐ͕ĂŶĚŽƚŚĞƌƐĂƐŶĞĐĞƐƐĂƌLJ͘dŽƉŝĐƐƐŚĂůůŝŶĐůƵĚĞƵƉĐŽŵŝŶŐǁŽƌŬ͕ƐĐŚĞĚƵůĞ͕ƵƚŝůŝƚLJ ĐŽŽƌĚŝŶĂƚŝŽŶ͕ŝƐƐƵĞƐŽĨŶŽŶͲĐŽŵƉůŝĂŶĐĞ͕ĐŚĂŶŐĞŽƌĚĞƌƐ͕ĂŶĚƚƌĂĐŬŝŶŐŽĨƐƵďŵŝƚƚĂůƐ͘ d^<ϯ͘ϭ͘ϭϰ KKZ/Ed/KED d/E'^t/d,WZKW ZdzKtE Z^Eh^/E ^^ ^ dz>/͛ƐZ ƐŚĂůůŵĞĞƚĂƐŶĞĞĚĞĚǁŝƚŚůŽĐĂůďƵƐŝŶĞƐƐĞƐ͕ƌĞƐŝĚĞŶƚƐ͕ĂŶĚƉƌŽƉĞƌƚLJŽǁŶĞƌƐƚŽĚŝƐĐƵƐƐƚŚĞƉƌŽũĞĐƚ͕ĞdžƉůĂŝŶƚŚĞƐĐŚĞĚƵůĞ͕ ĂŶĚƚŽĂĚĚƌĞƐƐĂŶLJĐŽŶĐĞƌŶƐ͘ d^<ϯ͘ϭ͘ϭϱ dZ</E'KE^dZhd/KEDd Z/>^ dz>/͛ƐZ ĂŶĚ/ŶƐƉĞĐƚŽƌƐŚĂůůƚƌĂĐŬŽŶƚƌĂĐƚŽƌƐ͛ŵĂƚĞƌŝĂůƐďLJĐĞƌƚŝĨŝĐĂƚĞŽĨĐŽŵƉůŝĂŶĐĞŽƌĂůƚƌĂŶƐƐŽƵƌĐĞŝŶƐƉĞĐƚŝŽŶƌĞůĞĂƐĞƚĂŐƐ͘ dz>/͛ƐK ƐŚĂůůĨŝůĞĂůůĐĞƌƚŝĨŝĐĂƚŝŽŶƐĂƉƉƌŽƉƌŝĂƚĞůLJ͘ d^<ϯ͘ϭ͘ϭϲ dZ&&/DE' D EdW>E dz>/͛ƐZ ĂŶĚ/ŶƐƉĞĐƚŽƌƐŚĂůůĂĚŵŝŶŝƐƚĞƌƚŚĞŝŵƉůĞŵĞŶƚĂƚŝŽŶŽĨƚŚĞƉƌŽũĞĐƚƐdƌĂĨĨŝĐDĂŶĂŐĞŵĞŶƚWůĂŶ;dDWͿ͘dz>/͛Ɛ/ŶƐƉĞĐƚŽƌƐŚĂůů ƌĞǀŝĞǁƚƌĂĨĨŝĐĐŽŶƚƌŽůĚĞǀŝĐĞƐŝŶĚĂLJͲƚŝŵĞĂŶĚĂƚŶŝŐŚƚͲƚŝŵĞƚŽǀĞƌŝĨLJĞĨĨĞĐƚŝǀĞŶĞƐƐ͘dDWǁŝůůĐŽŶƐŝĚĞƌĞŵĞƌŐĞŶĐLJƌĞƐƉŽŶƐĞǀĞŚŝĐůĞƐ͘ d^<ϯ͘ϭ͘ϭϳ^hD/dd>Z s/ t dz>/͛ƐK ƐŚĂůůƌĞĐĞŝǀĞ͕ƐƚĂŵƉǁŝƚŚĚĂƚĞƌĞĐĞŝǀĞĚ͕ĂŶĚƚƌĂĐŬĂůůŽŶƚƌĂĐƚŽƌƐ͕͛ƐƵďĐŽŶƚƌĂĐƚŽƌƐ͕͛ĂŶĚŝŶĚĞƉĞŶĚĞŶƚƉĂƌƚLJƐƵďŵŝƚƚĂůƐ͘ ůŽŐǁŝůůďĞƐĞƚƵƉŝĚĞŶƚŝĨLJŝŶŐƐƵďŵŝƚƚĂůŶĂŵĞ͕ƌĞƐƉŽŶƐŝďůĞƉĂƌƚLJ͕ƌĞǀŝĞǁƉĂƌƚLJĂŶĚǁŚĞƚŚĞƌĚĂƚĞǁĂƐŵĞƚ͘>ŽŐǁŝůůďĞƵƐĞĚĂƚǁĞĞŬůLJ ƉƌŽŐƌĞƐƐŵĞĞƚŝŶŐƐ͘dz>/͛ƐZ ƐŚĂůůĐŽŽƌĚŝŶĂƚĞĚŝƌĞĐƚůLJǁŝƚŚĞƐŝŐŶ ŶŐŝŶĞĞƌĨŽƌƌĞǀŝĞǁŽĨƐƵďŵŝƚƚĂůƐĚĞƐŝŐŶĂƚĞĚĨŽƌĚĞƐŝŐŶĞƌ͘dŚĞ ŶĞĞĚĨŽƌĞdžƉĞĚŝƚŝŽƵƐƌĞǀŝĞǁŽĨƐƵďŵŝƚƚĂůƐǁŝůůďĞƐƚƌĞƐƐĞĚĂƚƚŚĞǁĞĞŬůLJƉƌŽŐƌĞƐƐŵĞĞƚŝŶŐƐ͘^ƵďŵŝƚƚĂůƐƐŚĂůůŝŶĐůƵĚĞďƵƚĂƌĞŶŽƚ ůŝŵŝƚĞĚƚŽ͗ ͻ ŽŶƚƌĂĐƚŽƌ͛Ɛ/ŶũƵƌLJĂŶĚ/ůůŶĞƐƐWƌĞǀĞŶƚŝŽŶ WůĂŶ;//WWͿ ͻ ŽŶƚƌĂĐƚŽƌ͛ƐĞƋƵŝƉŵĞŶƚůŝƐƚ ͻ ^tWWW ͻ DŝdžĞƐŝŐŶƐ;ƐƉŚĂůƚŽŶĐƌĞƚĞĂŶĚ WŽƌƚůĂŶĚĞŵĞŶƚŽŶĐƌĞƚĞͿ ͻ EŽƚŝĐĞŽĨDĂƚĞƌŝĂůƐƚŽďĞƵƐĞĚ ͻ EŽƚŝĐĞŽĨDĂƚĞƌŝĂůƐƚŽďĞƵƐĞĚ ͻ EŽƚŝĐĞŽĨDĂƚĞƌŝĂůƐƚŽďĞƚĞƐƚĞĚ ͻ &ĂůƐĞǁŽƌŬĞƐŝŐŶ ͻ ^ŚŽƌŝŶŐĞƐŝŐŶ ͻ ^ŚŽƌŝŶŐĞƐŝŐŶ ͻ WŝůĞƌŝůůŝŶŐWůĂŶ ͻ ĞĐŽƌĂƚŝǀĞƌĂŝůŝŶŐ^ŚŽƉƌĂǁŝŶŐƐ ͻ ůĞĐƚƌŝĐĂůWůĂŶ ͻ dƌĂĨĨŝĐDĂŶĂŐĞŵĞŶƚWůĂŶ ͻ hƚŝůŝƚLJŽŽƌĚŝŶĂƚŝŽŶWůĂŶ ͻ :ŽŝŶƚƐƐĞŵďůLJ^ŚŽƉƌĂǁŝŶŐƐ ͻ ZĞŝŶĨŽƌĐĞŵĞŶƚ^ƚĞĞůWůĂĐĞŵĞŶƚWůĂŶ d^<ϯ͘ϭ͘ϭϴ >KZKDW>/E ͬ Yh> DW>KzD EdKWWKZdhE/dz; KͿͬ WZ s/>/E't' ͬ/^sEd' h^/E ^^ Ed ZWZ/^ ; Ϳ dz>/͛ƐZ ƐŚĂůůĞŶĨŽƌĐĞƚŚĞĐŽŶƚƌĂĐƚƌĞƋƵŝƌĞŵĞŶƚƐĂƐƚŚĞLJƉĞƌƚĂŝŶƚŽ>ĂďŽƌŽŵƉůŝĂŶĐĞ͕ K͕WƌĞǀĂŝůŝŶŐtĂŐĞ͕ĂŶĚ ĂĐĐŽƌĚŝŶŐƚŽ ƚŚĞ>WD͘dŚŝƐƐŚĂůůŝŶĐůƵĚĞ/ŶƐƉĞĐƚŽƌƐƉƌĞƉĂƌŝŶŐĚĂŝůLJĚŝĂƌŝĞƐĂŶĚƌĞĐŽƌĚŝŶŐǁŽƌŬĞƌƐŶĂŵĞƐ͕ĐůĂƐƐŝĨŝĐĂƚŝŽŶƐ͕ǁŽƌŬƉĞƌĨŽƌŵĞĚĂŶĚ ŚŽƵƌƐǁŽƌŬĞĚŽŶĞĂĐŚƚĂƐŬ͘dz>/͛ƐK ƐŚĂůůƌĞĐĞŝǀĞŽŶƚƌĂĐƚŽƌƐ͕͛^ƵďĐŽŶƚƌĂĐƚŽƌƐ͕͛ĂŶĚĞƋƵŝƉŵĞŶƚƌĞŶƚĂůĐŽŵƉĂŶŝĞƐ͛ĐĞƌƚŝĨŝĞĚƉĂLJƌŽůůƐ ŽŶĂǁĞĞŬůLJďĂƐŝƐĂŶĚĞŶƐƵƌŝŶŐƚŚĂƚƚŚĞĂƉƉůŝĐĂďůĞĂǀŝƐͲĂĐŽŶŽƌ^ƚĂƚĞƉƌĞǀĂŝůŝŶŐǁĂŐĞĂƐƌĞĨĞƌĞŶĐĞĚŝŶƐƉĞĐŝĂůƉƌŽǀŝƐŝŽŶƐŝƐ ĂĚŚĞƌĞĚƚŽ͖ƚƌĂĐŬǁŽƌŬƉĞƌĨŽƌŵĞĚďLJ ^ƵďĐŽŶƚƌĂĐƚŽƌƐ͕ŚŽƵƌƐŽĨǁŽƌŬƉĞƌĨŽƌŵĞĚĂŶĚŵŽŶƚŚůLJƉƌŽŐƌĞƐƐƉĂLJŵĞŶƚƐƚŚĂƚŝŶĐůƵĚĞ ǁŽƌŬďLJ ^ƵďĐŽŶƚƌĂĐƚŽƌƐ͖ĐŽŶĚƵĐƚŝŶŐƐƉŽƚĐŚĞĐŬ KŝŶƚĞƌǀŝĞǁƐĨŽƌĞĂĐŚĐůĂƐƐŝĨŝĐĂƚŝŽŶŽĨǁŽƌŬĞƌ͖ŵĂŝŶƚĂŝŶŝŶŐǁƌŝƚƚĞŶĞǀŝĚĞŶĐĞ ŽĨĂƉƉƌĞŶƚŝĐĞƐĞŵƉůŽLJĞĚŽŶƚŚĞƉƌŽũĞĐƚ͖ĐƌŽƐƐĐŚĞĐŬŝŶŐƌĞƉŽƌƚƐ͕ŝŶƚĞƌǀŝĞǁƐ͕ƉĂLJƌŽůůƐ͕ĂŶĚǁĂŐĞƌĂƚĞƐŝŶŽƌĚĞƌƚŽĚĞƚĞƌŵŝŶĞ ŽŶƚƌĂĐƚŽƌĂŶĚ^ƵďĐŽŶƚƌĂĐƚŽƌĐŽŵƉůŝĂŶĐĞ͘ 4 KE^dZhd/KEDE' D EdE/E^W d/KE^ Zs/ ^ hE W>D^ZKZ/' WZK: d & Z>WZK: dEŽ͘ͲZ<>^Ͳϱϰϯϯ;ϬϭϰͿͮ/dzWZK: dEŽ͘ͲϮϬϭϭͲϬϱ Ϯϴ d^<ϯ͘ϭ͘ϭϵ ^dKZDtd ZWK>>hd/KEWZ s Ed/KEW>E;^tWWWͿKDW>/E dz>/͛ƐZ ĂŶĚ/ŶƐƉĞĐƚŽƌƐĂŶĚ^ƵďĐŽŶƐƵůƚĂŶƚ/ŶƐƉĞĐƚŽƌƐƐŚĂůůŝŶƐƉĞĐƚƚŚĞƉƌŽũĞĐƚƐŝƚĞĂŶĚŵŽŶŝƚŽƌŽŶƚƌĂĐƚŽƌ͛ƐĐŽŵƉůŝĂŶĐĞǁŝƚŚĞƐƚ DĂŶĂŐĞŵĞŶƚWƌĂĐƚŝĐĞƐ;DWͿŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚĂůƚƌĂŶƐ,ĂŶĚŬƐ͘dz>/͛ƐZ ƐŚĂůůŵŽŶŝƚŽƌƚŚĞǁĞĂƚŚĞƌĨŽƌĞĐĂƐƚĚƵƌŝŶŐƚŚĞƐƚŽƌŵ ƐĞĂƐŽŶĂŶĚĞŶƐƵƌĞŽŶƚƌĂĐƚŽƌ͛ƐĐŽŵƉůŝĂŶĐĞĨŽƌƉƌĞͲƐƚŽƌŵ͕ƐƚŽƌŵĞǀĞŶƚ͕ĂŶĚƉŽƐƚƐƚŽƌŵƌĞƋƵŝƌĞŵĞŶƚƐ͘WƌŽƉĞƌŚĂŶĚůŝŶŐĂŶĚƐƚŽƌĂŐĞ ŽĨŶŽŶͲǀŝƐŝďůĞƉŽůůƵƚĂŶƚƐƐŚĂůůďĞĞŶĨŽƌĐĞĚ͘ d^<ϯ͘ϭ͘ϮϬ WDϭϬKDW>/E dz>/͛ƐZ ĂŶĚ/ŶƐƉĞĐƚŽƌƐ͕ĂŶĚ^ƵďĐŽŶƐƵůƚĂŶƚ/ŶƐƉĞĐƚŽƌƐ;ŚŽůĚŝŶŐŽĂĐŚĞůůĂsĂůůĞLJ&ƵŐŝƚŝǀĞƵƐƚĞƌƚŝĨŝĐĂƚĞƐͿƐŚĂůůŝŶƐƉĞĐƚƚŚĞƉƌŽũĞĐƚ ƐŝƚĞĂŶĚŵŽŶŝƚŽƌŽŶƚƌĂĐƚŽƌ͛ƐĐŽŵƉůŝĂŶĐĞǁŝƚŚDWƐŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞŽĂĐŚĞůůĂsĂůůĞLJ^ƚĂƚĞ/ŵƉůĞŵĞŶƚĂƚŝŽŶWůĂŶ͘dz>/͛Ɛ /ŶƐƉĞĐƚŽƌƐŚĂůůǀĞƌŝĨLJƚŚĂƚŽŶƚƌĂĐƚŽƌƵƚŝůŝnjĞƐĂƉƉƌŽǀĞĚŚĂƵůƌŽƵƚĞƐŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞdDWĂŶĚWDϭϬƌĞƋƵŝƌĞŵĞŶƚƐ͘ d^<ϯ͘ϭ͘Ϯϭ Z Yh ^d&KZ/E&KZDd/KE;Z&/Ϳ dz>/͛ƐZ ƐŚĂůůƌĞĐĞŝǀĞ͕ƌĞĐŽƌĚ͕ƌĞǀŝĞǁ͕ĂŶĚƌĞƐƉŽŶĚƚŽĂůůŽŶƚƌĂĐƚŽƌ͛ƐZ&/Ɛ͘Z ƐŚĂůůƐƵďŵŝƚƚŽƚŚŝƌĚƉĂƌƚLJĨŽƌƌĞǀŝĞǁŝĨŶĞĐĞƐƐĂƌLJ͘ ZĞƐƉŽŶƐĞƚŝŵĞƐǁŝůůďĞĚĞƚĞƌŵŝŶĞĚĂŶĚĂĚŚĞƌĞĚƚŽ͘ d^<ϯ͘ϭ͘ϮϮ ,E' Z Yh ^d^ͬKEdZd,E' KZ Z^ͬdZE^D/dd>> dd Z^ dz>/͛ƐZ ƐŚĂůůƌĞĐĞŝǀĞ͕ƌĞĐŽƌĚ͕ĂŶĚƌĞǀŝĞǁĂůůŽŶƚƌĂĐƚŽƌƐ͛ZĞƋƵĞƐƚƐĨŽƌŚĂŶŐĞƐ͘ůůƌĞƋƵĞƐƚƐǁŝůůďĞƌĞǀŝĞǁĞĚĨŽƌŵĞƌŝƚĂŶĚĚŝƐĐƵƐƐĞĚ ǁŝƚŚŝƚLJDĂŶĂŐĞŵĞŶƚ͘/ĨĐŚĂŶŐĞŝƐǁĂƌƌĂŶƚĞĚ͕Z ƐŚĂůůĐƌĞĂƚĞKĂŶĚdƌĂŶƐŵŝƚƚĂů>ĞƚƚĞƌĂĐĐŽƌĚŝŶŐƚŽĂůƚƌĂŶƐŽŶƚƌĂĐƚŚĂŶŐĞ KƌĚĞƌDĂŶƵĂů͘Z ǁŝůůƌĞĐĞŝǀĞĂŐĞŶĐLJĂƉƉƌŽǀĂůƉƌŝŽƌƚŽƐƵďŵŝƚƚĂůƚŽŽŶƚƌĂĐƚŽƌ͘dz>/͛ƐZ ĂŶĚ/ŶƐƉĞĐƚŽƌƐŚĂůůƚƌĂĐŬĂůůĞdžƚƌĂǁŽƌŬŽŶ ƐĞƉĂƌĂƚĞĚĂŝůLJĚŝĂƌŝĞƐ͘DŽŶƚŚůLJƉƌŽŐƌĞƐƐƉĂLJŵĞŶƚƐƐŚĂůůƌĞĨůĞĐƚĂůůKǁŽƌŬĞĚƉĞƌĨŽƌŵĞĚŝŶƚŚĞƉƌĞǀŝŽƵƐŵŽŶƚŚ͘ d^<ϯ͘ϭ͘Ϯϯ KKZ/Ed Dd Z/>^d ^d/E'E/E^W d/KEͬ^hZs z/E'^ Zs/ ^ dz>/͛ƐZ ƐŚĂůůĐŽŽƌĚŝŶĂƚĞĂŶĚŵŽŶŝƚŽƌĂůůŵĂƚĞƌŝĂůƐƚĞƐƚŝŶŐƐĞƌǀŝĐĞƐĂŶĚĐŽŶƐƚƌƵĐƚŝŽŶƐƵƌǀĞLJŝŶŐ͘^ƵƌǀĞLJƌĞƋƵĞƐƚƐǁŝůůďĞƌĞƋƵŝƌĞĚďLJ ƚŚĞŽŶƚƌĂĐƚŽƌϰϴŚŽƵƌƐƉƌŝŽƌƚŽŶĞĞĚĨŽƌƐƚĂŬŝŶŐ͘DĂƚĞƌŝĂůƐƚĞƐƚŝŶŐƌĞƉŽƌƚƐǁŝůůďĞƌĞǀŝĞǁĞĚĂŶĚŝŶŝƚŝĂůĞĚďLJƚŚĞZ ĂŶĚŵĂŝŶƚĂŝŶĞĚ ŝŶƚŚĞƉƌŽũĞĐƚĨŝůĞƐ͘ d^<ϯ͘ϭ͘Ϯϰ KKZ/Ed EDKE/dKZ>>/E^W d/KEd/s/d/ ^ dz>/͛ƐZ ƐŚĂůůĐŽŽƌĚŝŶĂƚĞĂŶĚŵŽŶŝƚŽƌĂůůŝŶƐƉĞĐƚŝŽŶĂĐƚŝǀŝƚŝĞƐŝŶĐůƵĚŝŶŐdz>//ŶƐƉĞĐƚŽƌƐ͕ƐƉĞĐŝĂůƚLJŝŶƐƉĞĐƚŽƌƐ͕ƉĞƌŵŝƚŝŶƐƉĞĐƚŽƌƐĂŶĚ ŶĞĐĞƐƐĂƌLJŝŶƐƉĞĐƚŝŽŶƐĨƌŽŵĂĚĚŝƚŝŽŶĂůĂŐĞŶĐŝĞƐŝŶǀŽůǀĞĚŝŶƚŚĞƉƌŽũĞĐƚ͘dz>/͛ƐZ ƐŚĂůůƚƌĂĐŬĐŽƐƚƐŽĨŝŶƐƉĞĐƚŝŽŶĂŶĚƉƌŽǀŝĚĞƵƉĚĂƚĞƐ ƚŽƚŚĞŝƚLJŽŶĂŵŽŶƚŚůLJďĂƐŝƐǁŝƚŚŵŽŶƚŚůLJŝŶǀŽŝĐĞ͘ d^<ϯ͘ϭ͘Ϯϱ /DW> D EdWh>/KhdZ ,W>E/DW> D EdWh>/KhdZ ,W>E dz>/͛ƐZ ƐŚĂůůŵĂŝŶƚĂŝŶĂŶŽƉĞŶĚŽŽƌƉŽůŝĐLJĚƵƌŝŶŐƚŚĞĐŽŶƐƚƌƵĐƚŝŽŶĐŽŶƚƌĂĐƚĂŶĚƐŚĂůůŵĞĞƚǁŝƚŚůŽĐĂůƌĞƐŝĚĞŶƚƐ͕ďƵƐŝŶĞƐƐŽǁŶĞƌƐ ĂŶĚŽƚŚĞƌŝŶƚĞƌĞƐƚĞĚƉĂƌƚŝĞƐĂŶĚĂĚĚƌĞƐƐĐŽŶĐĞƌŶƐ͘WƵďůŝĐŽƵƚƌĞĂĐŚǁŝůůŝŶĐůƵĚĞĂůůƌĞƋƵŝƌĞŵĞŶƚƐŝŶƚŚĞZ&WŝŶĐůƵĚŝŶŐƚŚĞĐŽŶƚƌĂĐƚŽƌ ƉƌŽǀŝĚĞĚĐĂŵĞƌĂ͕ǁĞďƐŝƚĞ͕ƉŽƐƚĐĂƌĚƐ͕ƐŝŐŶĂŐĞĂŶĚĐŽŵŵƵŶŝĐĂƚŝŽŶǁŝƚŚƐƚĂŬĞŚŽůĚĞƌƐ͘ d^<ϯ͘ϭ͘Ϯϲ E^hZ KDW>/E dK^& dzZ 'h>d/KE^͕h/>/E'K ^͕/dzKZ/EE ^ /DW> D EdWh>/KhdZ ,W>E dz>/͛ƐZ ĂŶĚ/ŶƐƉĞĐƚŽƌƐŚĂůůǀĞƌŝĨLJŽŶƚƌĂĐƚŽƌ͛ƐĐŽŵƉůŝĂŶĐĞƚŽĂƉƉůŝĐĂďůĞŽŶƐƚƌƵĐƚŝŽŶ^ĂĨĞƚLJKƌĚĞƌƐ͘sŝŽůĂƚŝŽŶƐǁŝůůďĞƌĞĐŽƌĚĞĚ ĂŶĚŽŶƚƌĂĐƚŽƌƐŚĂůůďĞƌĞƋƵĞƐƚĞĚƚŽĐŽƌƌĞĐƚƵŶƐĂĨĞĐŽŶĚŝƚŝŽŶ͘ƐĂĨĞƚLJĚŝĂƌLJƐŚĂůůďĞǁƌŝƚƚĞŶĨŽƌĞĂĐŚǀŝŽůĂƚŝŽŶĂŶĚŵĂŝŶƚĂŝŶĞĚŝŶ ƚŚĞŽŶƐƚƌƵĐƚŝŽŶ&ŝůĞƐ͘/ŶĂƉƉƌŽƉƌŝĂƚĞƐŝƚƵĂƚŝŽŶƐ͕ƚŚĞƉƌŽũĞĐƚƐŚĂůůďĞƐŚƵƚĚŽǁŶƵŶƚŝůŽŶƚƌĂĐƚŽƌĐŽƌƌĞĐƚƐƐĂĨĞƚLJǀŝŽůĂƚŝŽŶ;ƐͿ͘ d^<ϯ͘ϭ͘Ϯϳ WZ WZ DKEd,>zWZK'Z ^^ ^d/Dd ^ dz>/͛ƐZ ĂŶĚK ƐŚĂůůƉƌĞƉĂƌĞDŽŶƚŚůLJWƌŽŐƌĞƐƐ ƐƚŝŵĂƚĞƐƚŽƐƵŵŵĂƌŝnjĞƉĂLJŵĞŶƚƚŽƚŚĞŽŶƚƌĂĐƚŽƌĨŽƌǁŽƌŬƉĞƌĨŽƌŵĞĚ͘dz>/͛ƐZ ƐŚĂůůƉƌĞƉĂƌĞƐƵƉƉŽƌƚŝŶŐĚŽĐƵŵĞŶƚƐĨŽƌĞĂĐŚŝƚĞŵŽĨǁŽƌŬƚŽďĞƉĂŝĚ͘dŚĞƐĞĚŽĐƵŵĞŶƚƐƐŚĂůůŝŶĐůƵĚĞĂƚĂŵŝŶŝŵƵŵ͕ŝƚĞŵƚŽďĞƉĂŝĚ͕ ĂŵŽƵŶƚŽĨŝƚĞŵƚŽďĞƉĂŝĚ͕ĐĂůĐƵůĂƚŝŽŶŽĨŵĂƚĞƌŝĂůƉůĂĐĞĚ͕ĞƌƚŝĨŝĐĂƚĞƐŽĨŽŵƉůŝĂŶĐĞŽƌZĞůĞĂƐĞdĂŐƐ͕ŶĂŵĞŽĨŝŶĚŝǀŝĚƵĂůĐƌĞĂƚŝŶŐ ĚŽĐƵŵĞŶƚ͕ŶĂŵĞŽĨŝŶĚŝǀŝĚƵĂůǀĞƌŝĨLJŝŶŐĚŽĐƵŵĞŶƚ͕ĂŶĚĚĂƚĞ͘ĐŽŵƉƌĞŚĞŶƐŝǀĞDŽŶƚŚůLJWƌŽŐƌĞƐƐ ƐƚŝŵĂƚĞƐŚĂůůďĞƐƵďŵŝƚƚĞĚƚŽƚŚĞ ŝƚLJĨŽƌƌĞǀŝĞǁ͕ĂƉƉƌŽǀĂů͕ĂŶĚƉƌŽĐĞƐƐŝŶŐ͘DŽŶƚŚůLJWƌŽŐƌĞƐƐ ƐƚŝŵĂƚĞƐƐŚĂůůŝŶĐůƵĚĞKtŽƌŬ͘ d^<ϯ͘ϭ͘Ϯϴ DKE/dKZKE^dZhd/KEK^d^ dz>/͛ƐZ ƐŚĂůůƚƌĂĐŬĐŽŶƐƚƌƵĐƚŝŽŶĐŽƐƚƐŽŶĂŵŽŶƚŚůLJďĂƐŝƐ͘ džĐĞůƐƉƌĞĂĚƐŚĞĞƚƐƐŚĂůůďĞĐƌĞĂƚĞĚƚŽŵŽŶŝƚŽƌƉĂLJŵĞŶƚŽŶĞĂĐŚŝƚĞŵŽĨ ǁŽƌŬ͘^ƉƌĞĂĚƐŚĞĞƚƐƐŚĂůůďĞƵƉĚĂƚĞĚŽŶĂŵŽŶƚŚůLJďĂƐŝƐ͘ŽŶƚŝŶŐ ĞŶĐLJďĂůĂŶĐĞǁŝůůďĞŵŽŶŝƚŽƌĞĚĂŶĚƵƉĚĂƚĞĚĂĨƚĞƌĞĂĐŚKŽƌ ĂĨƚĞƌĞĂĐŚDŽŶƚŚůLJWƌŽŐƌĞƐƐ ƐƚŝŵĂƚĞ͘ d^<ϯ͘ϭ͘Ϯϵ EKd/ K&WKd Ed/>>/D^;EKWͿͬ>/D^Z ^K>hd/KE dz>/͛ƐZ ƐŚĂůůƌĞǀŝĞǁĂŶLJEŽƚŝĐĞŽĨWŽƚĞŶƚŝĂůůĂŝŵƐƐƵďŵŝƚƚĞĚďLJƚŚĞŽŶƚƌĂĐƚŽƌĨŽƌŵĞƌŝƚĂŶĚĐŽŶĨŽƌŵĂŶĐĞƚŽƚŚĞƌĞƋƵŝƌĞŵĞŶƚƐŝŶ ƚŚĞ^ƉĞĐŝĂůWƌŽǀŝƐŝŽŶƐ͘dz>/͛ƐZ ƐŚĂůůĨŽůůŽǁƚŚĞŐƵŝĚĞůŝŶĞƐĂŶĚƉƌŽĐĞĚƵƌĞƐĞƐƚĂďůŝƐŚĞĚďLJƚŚĞŝƚLJĂŶĚƚŚĞĂůƚƌĂŶƐŽŶƐƚƌƵĐƚŝŽŶ DĂŶƵĂůŝŶƌĞƐƉŽŶĚŝŶŐƚŽ͕ƌĞƐŽůǀŝŶŐ͕ĂŶĚĨŝŐŚƚŝŶŐƉƌŽƚĞƐƚƐ͕ƉŽƚĞŶƚŝĂůĐůĂŝŵƐ͕ĂŶĚĐůĂŝŵƐ͘WƌŽƉĞƌĚŽĐƵŵĞŶƚĂƚŝŽŶǁŝůůďĞĐƌĞĂƚĞĚƚŽ ĞƐƚĂďůŝƐŚĂĐŚĂŝŶŽĨĞǀĞŶƚƐŝŶƚŚĞĐůĂŝŵƐƉƌŽĐĞƐƐ͘ 5 KE^dZhd/KEDE' D EdE/E^W d/KE^ Zs/ ^ hE W>D^ZKZ/' WZK: d & Z>WZK: dEŽ͘ͲZ<>^Ͳϱϰϯϯ;ϬϭϰͿͮ/dzWZK: dEŽ͘ͲϮϬϭϭͲϬϱ Ϯϵ d^<ϯ͘ϭ͘ϯϬ Z d E E^hZ KDW>/E dKWhE,>/^d^ dz>/͛ƐZ ĂŶĚ/ŶƐƉĞĐƚŽƌƐŚĂůůĐƌĞĂƚĞƉƵŶĐŚůŝƐƚƐƚŚƌŽƵŐŚŽƵƚƚŚĞĐŽŶƐƚƌƵĐƚŝŽŶƉƌŽĐĞƐƐĂĨƚĞƌĞĂĐŚŝƚĞŵŽĨǁŽƌŬŝƐĐŽŵƉůĞƚĞ͘WƵŶĐŚůŝƐƚƐ ƐŚĂůůŝŶĐůƵĚĞŝƚĞŵƐƚŚĂƚŶĞĞĚƚŽďĞĐŽƌƌĞĐƚĞĚŽƌĂŵĞŶĚĞĚ͘dz>/͛Ɛ/ŶƐƉĞĐƚŽƌƐŚĂůůŵĞĞƚǁŝƚŚŽŶƚƌĂĐƚŽƌ͛ƐƉĞƌƐŽŶŶĞůƌĞŐƵůĂƌůLJƚŽ ŵŽŶŝƚŽƌĐŽŵƉůĞƚŝŽŶŽĨƉƵŶĐŚůŝƐƚŝƚĞŵƐ͘ŽŵƉůĞƚŝŽŶŽĨƉƵŶĐŚůŝƐƚŝƚĞŵƐƐŚĂůůďĞĂƚŽƉŝĐĂƚƚŚĞtĞĞŬůLJŽŶƐƚƌƵĐƚŝŽŶWƌŽŐƌĞƐƐDĞĞƚŝŶŐƐ͘ d^<ϯ͘ϭ͘ϯϭ ^Ͳh/>dWZK: d^, h> dz>/͛ƐZ ĂŶĚ/ŶƐƉĞĐƚŽƌƐŚĂůůŵĂŝŶƚĂŝŶĂŶĂƐͲďƵŝůƚƉƌŽũĞĐƚƐĐŚĞĚƵůĞƚŽĂƐƐŝƐƚŝŶĚŝƐƉƵƚĞƐĂŶĚƌĞƋƵĞƐƚĨŽƌƚŝŵĞĚƵĞƚŽŝŵƉĂĐƚƐ͘ d^<ϯ͘ϭ͘ϯϮ ^Ͳh/>dZt/E'^ dz>/͛Ɛ/ŶƐƉĞĐƚŽƌƐŚĂůůŵĂŝŶƚĂŝŶĂĐŽƉLJŽĨ͚ƌĞĚͲŵĂƌŬ͛ƉůĂŶƐŝŶƚŚĞƚƌĂŝůĞƌĂƚĂůůƚŝŵĞƐƚŽƚƌĂĐŬĐŚĂŶŐĞƐƚŽƚŚĞĐŽŶƚƌĂĐƚƉůĂŶƐ͕ĂĚĚŝƚŝŽŶƐ ĂŶĚĚĞůĞƚŝŽŶƐƚŚƌŽƵŐŚKƐ͕ƵƚŝůŝƚŝĞƐƚŚĂƚǁĞƌĞŝŶĐŽƌƌĞĐƚůLJůŽĐĂƚĞĚ͕ĂŶĚĂĚĚŝƚŝŽŶĂůŝƚĞŵƐƚŚĂƚŵƵƐƚďĞŝĚĞŶƚŝĨŝĞĚŽŶƚŚĞĨŝŶĂůĂƐͲďƵŝůƚ ĚƌĂǁŝŶŐƐ͘ d^<ϯ͘ϭ͘ϯϯ D/Ed/Edz>/dZ/E/E'WZK'ZD dz>/Z ƐŚĂůůŵĂŝŶƚĂŝŶdz>/͛ƐDƚƌĂŝŶŝŶŐƉƌŽŐƌĂŵĚƵƌŝŶŐƚŚĞĐŽŶƐƚƌƵĐƚŝŽŶŽĨƚŚĞƵŶĞWĂůŵƐZŽĂĚƌŝĚŐĞ͘dŚŝƐƐŚĂůůŝŶĐůƵĚĞ ƌĞĐĞƌƚŝĨŝĐĂƚŝŽŶŽĨƚƌĂĨĨŝĐĐŽŶƚƌŽů͕ĐŽŶĨŝŶĞĚƐƉĂĐĞ͕ĨĂůůƉƌŽƚĞĐƚŝŽŶ͕ĂŶĚƚƌĞŶĐŚŝŶŐͬƐŚŽƌŝŶŐƐĂĨĞƚLJĐůĂƐƐĞƐ͘dƌĂŝŶŝŶŐƐŚĂůůĂůƐŽŝŶĐůƵĚĞ ůĂƚĞƐƚƵƉĚĂƚĞƐƚŽ>WDĂŶĚWDƐĐŚĞĚƵůŝŶŐƐŽĨƚǁĂƌĞ͘dz>/ƐŚĂůůŝŶǀŝƚĞƚŚĞŝƚLJŽĨ>ĂYƵŝŶƚĂĂŶĚŽƚŚĞƌŝŶƚĞƌĞƐƚĞĚĂŐĞŶĐŝĞƐƚŽƚ ƌĂŝŶŝŶŐ͘ d^<ϰ͘ϬWK^dͲKE^dZhd/KE dz>/ ǁŝůů ƉĞƌĨŽƌŵ Ăůů ĐŽŶƐƚƌƵĐƚŝŽŶ ŵĂŶĂŐĞŵĞŶƚ ĂŶĚ ĂĚŵŝŶŝƐƚƌĂƚŝŽŶ ŶĞĐĞƐƐĂƌLJ ĨŽƌ ĐůŽƐŝŶŐ ŽƵƚ ƚŚĞ ƉƌŽũĞĐƚ ƚŽ ĂƐƐƵƌĞ ĐŽŶƚƌĂĐƚ ĐŽŵƉůŝĂŶĐĞĂŶĚ&ĞĚĞƌĂůƌĞŝŵďƵƌƐĞŵĞŶƚĂƐŽƵƚůŝŶĞĚŝŶĂůƚƌĂŶƐ>WD͘dŚĞĨŽůůŽǁŝŶŐŝƐĂďƌŝĞĨĚĞƐĐƌŝƉƚŝŽŶŽĨƐŽŵĞŽĨƚŚĞŵĂũŽƌ ĂƐƉĞĐƚƐŽĨƚŚŝƐǁŽƌŬ͗ d^<ϰ͘ϭ /d D>K^ ͲKhd dz>/͛ƐZ ĂŶĚ/ŶƐƉĞĐƚŽƌƐŚĂůůĐůŽƐĞŽƵƚĂŶĚďĂůĂŶĐĞĂůůĐŽŶƚƌĂĐƚŝƚĞŵƐ͘/ƚĞŵŽǀĞƌƌƵŶƐĂŶĚƵŶĚĞƌƌƵŶƐǁŝůůďĞƌĞƐŽůǀĞĚǁŝƚŚƚŚĞ ŽŶƚƌĂĐƚŽƌ͘KƐƚŽĂĚũƵƐƚŝƚĞŵƉƌŝĐĞƐǁŝůůďĞĐƌĞĂƚĞĚŝĨŶĞĐĞƐƐĂƌLJ͘ ĞůŝǀĞƌĂďůĞ͗dz>/͛ƐZ ƐŚĂůůƐƵďŵŝƚĂůŝƐƚŽĨŝƚĞŵŽǀĞƌƌƵŶƐĂŶĚƵŶĚĞƌƌƵŶƐƚŽƚŚĞŝƚLJ͘dz>/͛ƐZ ƚŽƐƵďŵŝƚĂKĨŽƌĂƉƉƌŽǀĂůďLJƚŚĞ ŝƚLJ͕ĂƐŶĞĐĞƐƐĂƌLJ͕ƚŽĂĚũƵƐƚŝƚĞŵƉƌŝĐĞƐ͘ d^<ϰ͘Ϯ >/D^Z WKZd dz>/͛ƐZ ƐŚĂůůƉƌĞƉĂƌĞĂůĂŝŵƐZĞƉŽƌƚĨŽƌĞĂĐŚĐůĂŝŵƚŚĂƚŝƐŽƵƚƐƚĂŶĚŝŶŐĂŶĚƵŶƌĞƐŽůǀĞĚĂƚƚŚĞĞŶĚŽĨƚŚĞĐŽŶƐƚƌƵĐƚŝŽŶƉƌŽũĞĐƚ͘ ůĂŝŵƐZĞƉŽƌƚƐƐŚĂůůďĞŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚ^ĞĐƚŝŽŶϮͲϳϬ͞WƌŽƚĞƐƚƐ͕WŽƚĞŶƚŝĂůůĂŝŵƐ͕ĂŶĚůĂŝŵƐ͕͟ŽĨƚŚĞĂůƚƌĂŶƐŽŶƐƚƌƵĐƚŝŽŶ DĂŶƵĂů͘ ĞůŝǀĞƌĂďůĞ͗dz>/͛ƐZ ƐŚĂůůƐƵďŵŝƚĂĐůĂŝŵƐƌĞƉŽƌƚĨŽƌĞĂĐŚĐůĂŝŵĨŽƌƌĞǀŝĞǁďLJƚŚĞŝƚLJ͘ d^<ϰ͘ϯ WZKWK^ &/E> ^d/Dd dz>/͛ƐZ ƐŚĂůůƉƌĞƉĂƌĞƚŚĞWƌŽƉŽƐĞĚ&ŝŶĂů ƐƚŝŵĂƚĞ͘dŚŝƐĚŽĐƵŵĞŶƚƐŚĂůůďĞƉƌŽǀŝĚĞĚĂĨƚĞƌƌĞƐŽůƵƚŝŽŶŽĨĐŽŶƐƚƌƵĐƚŝŽŶĐůĂŝŵƐ͘ ĞůŝǀĞƌĂďůĞ͗dz>/͛ƐZ ƐŚĂůůƐƵďŵŝƚĂWƌŽƉŽƐĞĚ&ŝŶĂů ƐƚŝŵĂƚĞƚŽƚŚĞŽŶƚƌĂĐƚŽƌĨŽƌĂĐĐĞƉƚĂŶĐĞ͘Z ƐŚĂůůƐƵďŵŝƚĂWƌŽƉŽƐĞĚ&ŝŶĂů ƐƚŝŵĂƚĞƚŽƚŚĞŝƚLJ͘ d^<ϰ͘ϰ WZK: dZ /DhZ^ D Ed dz>/Z ĂŶĚWƌŽũĞĐƚDĂŶĂŐĞƌƐŚĂůůƉƌĞƉĂƌĞƚŚĞ^ƚĂƚĞĂŶĚ&ĞĚĞƌĂůĨŽƌŵƐĨŽƌƚŚĞŝƚLJƚŽŽďƚĂŝŶƌĞŝŵďƵƌƐĞŵĞŶƚŽĨĨƵŶĚƐŝŶĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ^ĞĐƚŝŽŶϭϳŽĨƚŚĞĂůƚƌĂŶƐ>WD͘ ĞůŝǀĞƌĂďůĞ͗dz>/͛ƐWƌŽũĞĐƚDĂŶĂŐĞƌƐŚĂůůƐƵďŵŝƚ^ƚĂƚĞĂŶĚ&ĞĚĞƌĂůĨŽƌŵƐĨŽƌƌĞŝŵďƵƌƐĞŵĞŶƚƚŽƚŚĞŝƚLJ͘ d^<ϰ͘ϱ WZK: dZ WKZd dz>/͛ƐWƌŽũĞĐƚDĂŶĂŐĞƌƐŚĂůůĐƌĞĂƚĞĂWƌŽũĞĐƚZĞƉŽƌƚƚŚĂƚŝĚĞŶƚŝĨŝĞƐƚŚĞĐŽŶƐƚƌƵĐƚŝŽŶŽĨƚŚĞƉƌŽũĞĐƚ͕ƚŚĞĨŝŶĂůĐŽƐƚŽĨĐŽŶƐƚƌƵĐƚŝŽŶ ŝŶĐůƵĚŝŶŐĐŽŶƐƚƌƵĐƚŝŽŶŵĂŶĂŐĞŵĞŶƚĂŶĚĂĚŵŝŶŝƐƚƌĂƚŝŽŶ͕ĂůŝƐƚŽĨĂůůKƐ͕ĂůŝƐƚŽĨŽŶƐƚƌƵĐƚŝŽŶůĂŝŵƐĂŶĚƚŚĞƌĞƐƵůƚŽĨĞĂĐŚ ĂĨƚĞƌ ƌĞƐŽůƵƚŝŽŶ͕ĂŶĚĂƉŚŽƚŽĚŽĐƵŵĞŶƚĂƌLJŽĨĐŽŶƐƚƌƵĐƚŝŽŶ͘ ĞůŝǀĞƌĂďůĞ͗dz>/WƌŽũĞĐƚDĂŶĂŐĞƌƐŚĂůůƐƵďŵŝƚĂWƌŽũĞĐƚZĞƉŽƌƚƚŽƚŚĞŝƚLJ͘ d^<ϰ͘ϲ ^Ͳh/>dZt/E'^ dz>/Z ƐŚĂůůƉƌĞƉĂƌĞƚŚĞWƌŽƉŽƐĞĚ&ŝŶĂů ƐƚŝŵĂƚĞ͘dŚŝƐĚŽĐƵŵĞŶƚǁŝůůďĞƉƌŽǀŝĚĞĚĂĨƚĞƌƌĞƐŽůƵƚŝŽŶŽĨĂŶLJĐŽŶƐƚƌƵĐƚŝŽŶĐůĂŝŵƐ͘ ĞůŝǀĞƌĂďůĞ͗dz>/WƌŽũĞĐƚDĂŶĂŐĞƌƐŚĂůůƐƵďŵŝƚƐƚƌƵĐƚƵƌĞĂŶĚƌŽĂĚǁĂLJƐͲƵŝůƚƌĂǁŝŶŐƐƚŽƚŚĞŝƚLJ͘ 6 KE^dZhd/KEDE' D EdE/E^W d/KE^ Zs/ ^ hE W>D^ZKZ/' WZK: d & Z>WZK: dEŽ͘ͲZ<>^Ͳϱϰϯϯ;ϬϭϰͿͮ/dzWZK: dEŽ͘ͲϮϬϭϭͲϬϱ ϯϬ d^<ϱ͘Ϭ^hZs z^ Zs/ ^ dz>/͛Ɛ^ƵďͲĐŽŶƐƵůƚĂŶƚĨŽƌƐƵƌǀĞLJƐĞƌǀŝĐĞƐƐŚĂůůƉƌŽǀŝĚĞƋƵĂůŝƚLJĂƐƐƵƌĂŶĐĞƐƵƌǀĞLJŝŶŐŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞĂůƚƌĂŶƐŽŶƐƚƌƵĐƚŝŽŶ DĂŶƵĂůĂŶĚƚŚĞZ&WĨŽƌŽŶƐƚƌƵĐƚŝŽŶDĂŶĂŐĞŵĞŶƚ^ĞƌǀŝĐĞƐĨŽƌƚŚĞƵŶĞWĂůŵƐZŽĂĚƌŝĚŐĞ/ŵƉƌŽǀĞŵĞŶƚƐWƌŽũĞĐƚƚŽǀĞƌŝĨLJ ŽŶƚƌĂĐƚŽƌ͛ƐĐŽŶƚƌŽů͕ůĂLJŽƵƚŽĨĂďƵƚŵĞŶƚƐ͕ǁŝŶŐǁĂůůƐ͕ĂŶĚƉŝĞƌƐ͕ĂŶĚƚŽǀĞƌŝĨLJŽŶƚƌĂĐƚŽƌ͛ƐƉůĂĐĞŵĞŶƚŽĨĞůĞǀĂƚŝŽŶĂƚƚŽƉŽĨ ĂďƵƚŵĞŶƚƐĂŶĚƉŝĞƌƐ͘dz>/͛Ɛ^ƵďͲĐŽŶƐƵůƚĂŶƚƐŚĂůůďĞƵƚŝůŝnjĞĚƚŽǀĞƌŝĨLJZ ͛ƐƉůĂĐĞŵĞŶƚŽĨĞůĞǀĂƚŝŽŶĨŽƌƚŽƉĚĞĐŬ͘dz>/͛Ɛ^ƵďͲĐŽŶƐƵůƚĂŶƚ ƐŚĂůůďĞƵƚŝůŝnjĞĚƚŽĂƐƐŝƐƚZ ŝŶƚŚĞĐŽŶƐƚƌƵĐƚŝŽŶŽĨƚŚĞďŝŬĞƚƌĂŝů͕ĂƐŶĞĞĚĞĚ͘ ĞůŝǀĞƌĂďůĞ͗^ƵďͲĐŽŶƐƵůƚĂŶƚƐŚĂůůƐƵďŵŝƚƐƵƌǀĞLJƐŚĞĞƚƐƚŽdz>/͛ƐZ ĨŽƌƌĞǀŝĞǁ͕ĂƉƉƌŽǀĂů͕ƐŝŐŶĂƚƵƌĞ͕ĂŶĚƉůĂĐĞŵĞŶƚŝŶƚŚĞĐŽŶƚƌĂĐƚ ĨŝůĞƐ͘ d^<ϲ͘ϬDd Z/>/E^W d/KEEd ^d/E' dz>/͛Ɛ^ƵďͲĐŽŶƐƵůƚĂŶƚĨŽƌŵĂƚĞƌŝĂůƐƚĞƐƚŝŶŐĂŶĚŝŶƐƉĞĐƚŝŽŶƐĞƌǀŝĐĞƐƐŚĂůůƉƌŽǀŝĚĞƋƵĂůŝƚLJĂƐƐƵƌĂŶĐĞŝŶƐƉĞĐƚŝŽŶĂŶĚƚĞƐƚŝŶŐŽĨŵĂƚĞƌŝĂůƐ ƵƐĞĚŝŶĐŽŶƐƚƌƵĐƚŝŽŶƚŽǀĞƌŝĨLJŽŶƚƌĂĐƚŽƌ͛ƐĐŽŵƉůŝĂŶĐĞǁŝƚŚĂƉƉůŝĐĂďůĞƐƚĂŶĚĂƌĚƐ͕ŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞĂůƚƌĂŶƐŽŶƐƚƌƵĐƚŝŽŶ DĂŶƵĂůĂŶĚƚŚĞZ&WĨŽƌŽŶƐƚƌƵĐƚŝŽŶDĂŶĂŐĞŵĞŶƚ^ĞƌǀŝĐĞƐĨŽƌƚŚĞƵŶĞWĂůŵƐZŽĂĚƌŝĚŐĞ/ŵƉƌŽǀĞŵĞŶƚƐWƌŽũĞĐƚ͘ ĞůŝǀĞƌĂďůĞ͗^ƵďͲĐŽŶƐƵůƚĂŶƚƐŚĂůůƐƵďŵŝƚƚĞƐƚƌĞƉŽƌƚƐƚŽdz>/͛ƐZ ĨŽƌƌĞǀŝĞǁ͕ĂƉƉƌŽǀĂů͕ƐŝŐŶĂƚƵƌĞ͕ĂŶĚƉůĂĐĞŵĞŶƚŝŶƚŚĞĐŽŶƚƌĂĐƚ ĨŝůĞƐ͘EŽŶͲĐŽŵƉůLJŝŶŐƚĞƐƚƌĞƐƵůƚƐƐŚĂůůďĞďƌŽƵŐŚƚƚŽƚŚĞZ ͛ƐĂƚƚĞŶƚŝŽŶŝŵŵĞĚŝĂƚĞůLJ͘^ƵďͲĐŽŶƐƵůƚĂŶƚƐŚĂůůĐƌĞĂƚĞƐƉƌĞĂĚƐŚĞĞƚƐƚŽ ƚƌĂĐŬƚĞƐƚŝŶŐĨƌĞƋƵĞŶĐŝĞƐ͕ƌĞƐƵůƚƐ͕ĂŶĚƌĞƚĞƐƚƐ;ŝĨŶĞĐĞƐƐĂƌLJͿƚŽdz>/͛ƐZ ĨŽƌƌĞǀŝĞǁ͕ĂƉƉƌŽǀĂů͕ƐŝŐŶĂƚƵƌĞ͕ĂŶĚƉůĂĐĞŵĞŶƚŝŶƚŚĞ ĐŽŶƚƌĂĐƚĨŝůĞƐ͘ d^<ϳ͘Ϭ/K>K'/>DKE/dKZ/E'Eh>dhZ>DKE/dKZ/E'^hWWKZd dz>/͛Ɛ^ƵďͲĐŽŶƐƵůƚĂŶƚĨŽƌďŝŽůŽŐŝĐĂůŵŽŶŝƚŽƌŝŶŐĂŶĚĐƵůƚƵƌĂůŵŽŶŝƚŽƌŝŶŐƐƵƉƉŽƌƚƐŚĂůůƉƌŽǀŝĚĞŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞĂůƚƌĂŶƐ ŽŶƐƚƌƵĐƚŝŽŶDĂŶƵĂůĂŶĚƚŚĞZ&WĨŽƌŽŶƐƚƌƵĐƚŝŽŶDĂŶĂŐĞŵĞŶƚ^ĞƌǀŝĐĞƐĨŽƌƚŚĞƵŶĞWĂůŵƐZŽĂĚƌŝĚŐĞ/ŵƉƌŽǀĞŵĞŶƚƐWƌŽũĞĐƚ ĂŶĚƚƚĂĐŚŵĞŶƚƚŽƚŚŝƐƐĐŽƉĞ͘ ĞůŝǀĞƌĂďůĞ͗^ƵďͲĐŽŶƐƵůƚĂŶƚƐŚĂůůƐƵďŵŝƚĚŝĂƌŝĞƐƚŽdz>/͛ƐZ ĨŽƌƌĞǀŝĞǁ͕ĂƉƉƌŽǀĂů͕ƐŝŐŶĂƚƵƌĞ͕ĂŶĚƉůĂĐĞŵĞŶƚŝŶƚŚĞĐŽŶƚƌĂĐƚĨŝůĞƐ͘ ĐƚŝŽŶƐŽĨŶŽŶͲĐŽŵƉůŝĂŶĐĞƐŚĂůůďĞďƌŽƵŐŚƚƚŽƚŚĞZ ͛ƐĂƚƚĞŶƚŝŽŶŝŵŵĞĚŝĂƚĞůLJ͘ d^<ϴ͘ϬWh>/KhdZ , dz>/͕ŝŶĐŽŽƌĚŝŶĂƚŝŽŶǁŝƚŚŽƵƌƐƵďĐŽŶƐƵůƚĂŶƚ͕ŽŶŶĞĐƚĂŶĚŽŵƉĂŶLJ͕ǁŝůůƉƌŽǀŝĚĞWƵďůŝĐKƵƚƌĞĂĐŚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞZ&WĨŽƌ ŽŶƐƚƌƵĐƚŝŽŶDĂŶĂŐĞŵĞŶƚ^ĞƌǀŝĐĞƐĨŽƌƚŚĞƵŶĞWĂůŵƐZŽĂĚƌŝĚŐĞ/ŵƉƌŽǀĞŵĞŶƚƐWƌŽũĞĐƚ͘ŽŶŶĞĐƚĂŶĚŽŵƉĂŶLJǁŝůůĚĞǀĞůŽƉĂŶ ŽƵƚƌĞĂĐŚƉůĂŶ͕ĂƐƐŝƐƚƚŚĞŝƚLJǁŝƚŚĐŽůůĂƚĞƌĂůŵĂƚĞƌŝĂůƐƚŽďĞĚŝƐƚƌŝďƵƚĞĚ͕ĂƐƐŝƐƚŝŶĐƌĞĂƚŝŶŐĂƉƌŽũĞĐƚǁĞďƉĂŐĞĂŶĚĐŽŶŶĞĐƚƚŽƚŚĞ ŝƚLJ͛ƐǁĞďƐŝƚĞƚŽƉƌŽǀŝĚĞŵƵůƚŝƉůĞƐŽƵƌĐĞƐĨŽƌƚŚĞŐĞŶĞƌĂůƉƵďůŝĐƚŽŐĂŝŶĂĐĐĞƐƐŝŶĨŽƌŵĂƚŝŽŶĂďŽƵƚƚŚĞƵŶĞWĂůŵƐZŽĂĚƌŝĚŐĞ ƉƌŽũĞĐƚĂŶĚƉƌŽǀŝĚĞƐŽĐŝĂůŵĞĚŝĂƵƉĚĂƚĞƐ͘/ŶĂĚĚŝƚŝŽŶ͕dz>/͕ŝŶĐŽŽƌĚŝŶĂƚŝŽŶǁŝƚŚŽŶŶĞĐƚĂŶĚŽŵƉĂŶLJĂŶĚƚŚĞŝƚLJ͕ǁŝůůǁŽƌŬǁŝƚŚ ƚŚĞŽŶƚƌĂĐƚŽƌƚŽƉŽƐŝƚŝŽŶĂŽŶƚƌĂĐƚŽƌͲƉƌŽǀŝĚĞĚĐŽŶƐƚƌƵĐƚŝŽŶĐĂŵĞƌĂĂŶĚĐŽŶŶĞĐƚ;ďLJŽŶƚƌĂĐƚŽƌͿĂƌĞĂůͲƚŝŵĞǀŝĚĞŽƐƚƌĞĂŵƚŽƚŚĞ ƉƌŽũĞĐƚǁĞďƉĂŐĞĂŶĚƚŚĞŝƚLJ͛ƐǁĞďƐŝƚĞ͕ƚŽĂůůŽǁŝƚLJŽĨĨŝĐŝĂůƐĂŶĚƚŚĞƉƵďůŝĐƚŽŽďƐĞƌǀĞĐŽŶƐƚƌƵĐƚŝŽŶŽĨƚŚĞďƌŝĚŐĞƌĞŵŽƚĞůLJ͘ ĞůŝǀĞƌĂďůĞ͗dz>/ĂŶĚŽŶŶĞĐƚĂŶĚŽŵƉĂŶLJǁŝůůĚĞǀĞůŽƉĂŶŽƵƚƌĞĂĐŚƉůĂŶ͕ƉƌĞƉĂƌĞĐŽůůĂƚĞƌĂůŵĂƚĞƌŝĂůƐ͕ĐƌĞĂƚĞĂƉƌŽũĞĐƚǁĞďƉĂŐĞ ŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞŝƚLJ͛ƐƌĞǀŝĞǁĂŶĚĂƉƉƌŽǀĂů͘ŶĚƉƌŽǀŝĚĞƐŽĐŝĂůŵĞĚŝĂƵƉĚĂƚĞƐ͘dz>/ƐƵďĐŽŶƐƵůƚĂŶƚǁŝůůŵŽŶŝƚŽƌƚŚĞǁĞďƐŝƚĞ ĂŶĚƵƉĚĂƚĞƉƌŽũĞĐƚŝŶĨŽƌŵĂƚŝŽŶĂŶĚĐŽŶƐƚƌƵĐƚŝŽŶƉŚŽƚŽƐ͘dz>/ĂŶĚŽŶŶĞĐƚĂŶĚŽŵƉĂŶLJ͕ŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞŝƚLJ͕ǁŝůůǁŽƌŬ ǁŝƚŚƚŚĞŽŶƚƌĂĐƚŽƌƚŽƉŽƐŝƚŝŽŶĂŽŶƚƌĂĐƚŽƌͲƉƌŽǀŝĚĞĚĐŽŶƐƚƌƵĐƚŝŽŶĐĂŵĞƌĂƚŚĂƚŝƐĐŽŵƉĂƚŝďůĞǁŝƚŚƚŚĞŝƚLJ͛ƐǁĞďƐŝƚĞƚŽĂůůŽǁƌĞĂůͲ ƚŝŵĞǀŝĚĞŽƐƚƌĞĂŵŝŶŐŽĨĐŽŶƐƚƌƵĐƚŝŽŶ͘ d^<ϵ͘Ϭ/,W/> WdE d ^d^ ;>/^d /EK^dWZKWK^>^EKd, Z/Z dK^dKͿ dz>/ƐƵďĐŽŶƐƵůƚĂŶƚ͕ ĂƌƚŚ^ƉĞĐƚŝǀĞƐ͕ĨŽƌ/,ƉŝůĞĂĐĐĞƉƚĂŶĐĞƚĞƐƚƐǁŝůůĞǀĂůƵĂƚĞƚŚĞŚŽŵŽŐĞŶĞŝƚLJŽĨƚŚĞĐŽŶĐƌĞƚĞǁŝƚŚŝŶƚŚĞƉŝůĞƐ ƚŚƌŽƵŐŚŐĂŵŵĂͲŐĂŵŵĂůŽŐŐŝŶŐ;''>Ϳ͘dĞƐƚŝŶŐǁŝůůďĞƉĞƌĨŽƌŵĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƉƌŽũĞĐƚƐƉĞĐŝĨŝĐĂƚŝŽŶƐĂŶĚĂůŝĨŽƌŶŝĂdĞƐƚ DĞƚŚŽĚϮϯϯ͘dĞƐƚŝŶŐǁŝůůŝŶĐůƵĚĞůŽǁĞƌŝŶŐŽĨϰ͘ϲĨĞĞƚĂŶĚϭ͘ϮϱͲŝŶĐŚĚŝĂŵĞƚĞƌƉƌŽďĞƚŽƚŚĞďŽƚƚŽŵŽĨĞĂĐŚŝŶƐƉĞĐƚŝŽŶƚƵďĞĂŶĚ ŵĞĂƐƵƌŝŶŐƚŚĞĚĞŶƐŝƚLJŽĨƚŚĞĐŽŶĐƌĞƚĞŝŶĐůŽƐĞƉƌŽdžŝŵŝƚLJŽĨƚŚĞŝŶƐƉĞĐƚŝŽŶƚƵďĞƐĂƚϬ͘ϭĨĞĞƚŝŶƚĞƌǀĂůƐĂůŽŶŐƚŚĞĨƵůůůĞŶŐƚŚŽĨƚŚĞƉŝůĞ͘ /ĨĂŶŽŵĂůŝĞƐĂƌĞĚĞƚĞĐƚĞĚďLJ''>ƚĞƐƚŝŶŐ͕ĂĚĚŝƚŝŽŶĂůŝŶǀĞƐƚŝŐĂƚŝŽŶŽĨƚŚĞƉŝůĞ;ƐͿĐĂŶďĞŽďƚĂŝŶĞĚƚŚƌŽƵŐŚĐƌŽƐƐͲŚŽůĞƐŽŶŝĐůŽŐŐŝŶŐ ;^>Ϳ͘ ĞůŝǀĞƌĂďůĞ͗ ĂƌƚŚ^ƉĞĐƚŝǀĞƐǁŝůůƉĞƌĨŽƌŵ''>ƚĞƐƚŝŶŐĂŶĚƉƌŽǀŝĚĞƚŚĞƌĞƐƵůƚƐŽĨĞĂĐŚƉŝůĞƚŽdz>/͛ƐZ ͘hƉŽŶƌĞĐĞŝƉƚĂŶĚƌĞǀŝĞǁŽĨ ''>ŝŶĨŽƌŵĂƚŝŽŶ͕dz>/Z ǁŝůůƉƌŽǀŝĚĞƚŚĞŝŶĨŽƌŵĂƚŝŽŶƚŽƚŚĞ^ƚƌƵĐƚƵƌĞƐĞƐŝŐŶĞƌĂŶĚ'ĞŽƚĞĐŚŶŝĐĂů ŶŐŝŶĞĞƌŽĨZĞĐŽƌĚĨŽƌƌĞǀŝĞǁ ĂŶĚĚŝƐĐƵƐƐŝŽŶ͘/Ĩ^>ŝƐƌĞƋƵŝƌĞĚĂƚƉŝůĞ;ƐͿ͕ƚŚĞƌĞƐƵůƚƐŽĨ^>ƚĞƐƚŝŶŐǁŝůůĂůƐŽďĞƉƌŽǀŝĚĞĚƚŽdz>/͛ƐZ ͕ĂŶĚƐƵďƐĞƋƵĞŶƚůLJƚŚĞ 7 KE^dZhd/KEDE' D EdE/E^W d/KE^ Zs/ ^ hE W>D^ZKZ/' WZK: d & Z>WZK: dEŽ͘ͲZ<>^Ͳϱϰϯϯ;ϬϭϰͿͮ/dzWZK: dEŽ͘ͲϮϬϭϭͲϬϱ ϯϭ ^ƚƌƵĐƚƵƌĞƐĞƐŝŐŶĞƌĂŶĚ'ĞŽƚĞĐŚŶŝĐĂů ŶŐŝŶĞĞƌŝŶŽƌĚĞƌƚŽĚĞƚĞƌŵŝŶĞƚŚĞĂĐĐĞƉƚĂŶĐĞŽĨĞĂĐŚƉŝůĞ͕ŽƌƚŚĞŶĞĞĚĨŽƌĂŵŝƚŝŐĂƚŝŽŶ ƉůĂŶƚŽƌĞƉĂŝƌŽƌƌĞƉůĂĐĞƐƉĞĐŝĨŝĐƉŝůĞƐ͘ d^<ϭϬ͘Ϭ > dZ/>/E^W d/KE dz>/ƐƵďĐŽŶƐƵůƚĂŶƚ͕ ^/͕ǁŝůůƉƌŽǀŝĚĞŝŶƐƉĞĐƚŝŽŶŽĨĞůĞĐƚƌŝĐĂůĨĂĐŝůŝƚŝĞƐƌĞůĂƚŝŶŐƚŽƐƚƌĞĞƚůŝŐŚƚŝŶŐĂůŽŶŐƚŚĞƌŽĂĚǁĂLJĂŶĚŽŶƚŚĞďƌŝĚŐĞ ĂŶĚǁŝƚŚŝŶƚŚĞďƌŝĚŐĞƌĂŝůŝŶŐ͘/ŶƐƉĞĐƚŝŽŶǁŝůůĂůƐŽŝŶĐůƵĚĞĐŽŵƉůŝĂŶĐĞĂƐƐŽĐŝĂƚĞĚǁŝƚŚĐƵƌďƌĂŵƉƐ͕ƉĞĚĞƐƚĂůƐĂŶĚǁĂůŬǁĂLJƐ͘ ^/ /ŶƐƉĞĐƚŽƌǁŝůůĐŽŽƌĚŝŶĂƚĞǁŝƚŚŝƚLJ͛ƐĞůĞĐƚƌŝĐĂůŝŶƐƉĞĐƚŽƌƐ͘ ĞůŝǀĞƌĂďůĞ͗ ^/ǁŝůůƐƵďŵŝƚĚŝĂƌŝĞƐƚŽdz>/͛ƐZ ĨŽƌƌĞǀŝĞǁ͕ĂƉƉƌŽǀĂů͕ƐŝŐŶĂƚƵƌĞ͕ĂŶĚƉůĂĐĞŵĞŶƚŝŶƚŚĞĐŽŶƚƌĂĐƚĨŝůĞƐ͘ĐƚŝŽŶƐŽĨ ŶŽŶͲĐŽŵƉůŝĂŶĐĞǁŝůůďĞŝŵŵĞĚŝĂƚĞůLJďƌŽƵŐŚƚƚŽƚŚĞZ ͛ƐĂƚƚĞŶƚŝŽŶ͘ d^<ϭϭ͘Ϭ^KhZ /E^W d/KEYh>/dzDE' D Ed dz>/ƐƵďĐŽŶƐƵůƚĂŶƚ͕dŽŶƐƵůƚŝŶŐ'ƌŽƵƉ͕/ŶĐ͘;dͿ͕ǁŝůůĐƌĞĂƚĞĂ^ŽƵƌĐĞ/ŶƐƉĞĐƚŝŽŶYƵĂůŝƚLJDĂŶĂŐĞŵĞŶƚWůĂŶ;^/YDWͿ͕ĂŶĚƉƌŽǀŝĚĞ ƐŽƵƌĐĞŝŶƐƉĞĐƚŝŽŶŵĂŶĂŐĞŵĞŶƚŽĨWd& ďĞĂƌŝŶŐƐ;ĨĂďƌŝĐĂƚŝŽŶŝŶƐƉĞĐƚŝŽŶĂŶĚǁŝƚŶĞƐƐŝŶŐƉĞƌĨŽƌŵĂŶĐĞƚĞƐƚŝŶŐͿĂŶĚƉŽƐƚͲƚĞŶƐŝŽŶŝŶŐ ƐƚƌĞƐƐŝŶŐƐƚƌĂŶĚƐ;ƐĂŵƉůŝŶŐ͕ƚĞƐƚŝŶŐ͕ĂŶĚƌĞůĞĂƐŝŶŐͿ͘dŚĞƐŽƵƌĐĞŝŶƐƉĞĐƚŝŽŶƋƵĂůŝƚLJĂƐƐƵƌĂŶĐĞƉƌŽŐƌĂŵĨŽƌƚŚŝƐƉƌŽũĞĐƚƐŚĂůůŵĞĞƚƚŚĞ ƌĞƋƵŝƌĞŵĞŶƚƐŽĨƚŚĞZ&WĨŽƌŽŶƐƚƌƵĐƚŝŽŶDĂŶĂŐĞŵĞŶƚ^ĞƌǀŝĐĞƐĨŽƌƚŚĞƵŶĞWĂůŵƐZŽĂĚƌŝĚŐĞ/ŵƉƌŽǀĞŵĞŶƚƐWƌŽũĞĐƚ͕&ZdŝƚůĞ Ϯϯ͕ŝƚLJYW͕ĂŶĚĂůƚƌĂŶƐ>WD͘ ĞůŝǀĞƌĂďůĞ͗dz>/ƐƵďĐŽŶƐƵůƚĂŶƚǁŝůůĐƌĞĂƚĞĂŶĚŝŵƉůĞŵĞŶƚĂ^/YDW͕ƌĞǀŝĞǁŽŶƚƌĂĐƚŽƌ͛ƐtĞůĚŝŶŐYƵĂůŝƚLJŽŶƚƌŽůWůĂŶ;tYWͿ͕ ĨĂĐŝůŝƚĂƚĞƉƌĞͲŽƉĞƌĂƚŝŽŶŵĞĞƚŝŶŐƐƌĞůĂƚŝŶŐƚŽĨĂďƌŝĐĂƚŝŽŶĂŶĚƉƌŽǀŝĚĞŝŶƐƉĞĐƚŝŽŶƌĞƉŽƌƚƐĨŽƌYƵĂůŝƚLJƐƐƵƌĂŶĐĞ;YͿƌĞǀŝĞǁƐŽĨ ĨĂďƌŝĐĂƚŝŽŶŽĨWd& ďĞĂƌŝŶŐƐĂŶĚƉŽƐƚͲƚĞŶƐŝŽŶŝŶŐƐƚƌĂŶĚƐ͘ 8 *% #$(& '! '&" ) & $!%& #!&&') *!) ł6DQ'LHJR ł7HO ł)D[ łZZZHFRUSFRQVXOWLQJFRP (+,*()(+ % +$ * ('+,*- ,"(' ' ('+,*- ,"('*(# ,-))(*,! ' * % *8(7.59.434+"&80 74;.)*&83**)*)8:55479949-*574/*(9(43897:(9.439*&2&3)7*8543)94&3> @8.3 &7*85438.;*2&33*7$470(445*7&9.;*1><.9-9-*574/*(99*&2&83**)*)99*3)57*(43897:(9.430.(04++ 2**9.3,<.9-(4397&(947&3) 9*&299*3)(447).3&9.432**9.3,8<.9-"%.357.47940.(04++2**9.3, 99*3)<**01>(43897:(9.432**9.3, *1.;*7&'1*8 43* 88:259.438#594-4:78+47438.9*0.(04++2**9.3,&3);.79:&10.(04++2**9.3,-4:75*72439-+47 574/*(9(447).3&9.43<.9-"%.3(447).3&9.432**9.3,8<.11'*.35-43*(&11;.)*4(43+*7*3(*+472&9 +$ * ('+,*- ,"(' - ,"('*(!* & *8(7.59.434+"&804251*9*7*(47)*) ;*78.434+<470*7*):(&9.43574,7&2&885*(.+.*).39-*574/*(9 5*72.98 <.11574;.)*&33,1.8-1&3,:&,*;*78.43"-*574,7&2.894.3(1:)*<.1)1.+*85*(.*8-&'.9&9 1*,&15749*(9.438)*8(7.59.43&3)*(414,>4+.3;&8.;*85*(.*8(:77*391>438.9*)*8(7.59.43&3)*(414,>4+ .3;&8.;*85*(.*89-&9548*&9-7*&994549*39.&11>.3;&)*9-*8.9* 8*9( 74;.)*5&25-1*9894'* ).897.':9*) *1.;*7&'1*8 *(47)*);*78.434+<470*7*):(&9.43574,7&2&3)5&25-1*9 88:259.438 3*7*;.*<(>(1*<.9-"%.33,1.8-;*78.43431> +$ * ('+,*- ,"('-**(/"'!/%-*. 1+ ' )(*, *8(7.59.434+"&80# $8:7;*>857.4794(43897:(9.43<.9-.38:.9&'1*-&'.9&9&885*(.+.*).39-* &3) !.3&((47)&3(*<.9-,:.)&3(*+47# $.3$ ! &7*&&3)!9&9*,:.)*1.3*8 ':774<.3,4<1 8:7;*>8 )&>&3) -4:757.4794,74:3)).89:7'&3(*.3(1:).3,89&,.3,4+2&9*7.&184251*9*&11 349.+.(&9.438&885*(.+.*).39-*5*72.98&3)7*8543)94&,*3(>*2&.187*,&7).3,574/*(9.3+472&9.43&3) &5574;&184+243.947.3,&3)8:7;*>.3,'.414,.898+479-*574/*(9477*8543)*3(*.3(1:)*8$57.2&7.1> ;.&*2&.1&3)1*99*7&99&(-2*398 *1.;*7&'1*8 49.+.(&9.43*99*787*8:2*8+47'.414,.898(422:3.(&9.437*(47)88:7;*>7*8:1981*99*77*5479 88:259.438 4247*9-&3 5*451*3**)*)+47*&(-8:7;*>*&(-8:7;*>):7&9.431*889-&3)&> +$ * ('+,*- ,"(' +,"'!"* % ' *8(7.59.434+"&804251*9*& *89.3,.7) 1&3+479-*574/*(9&885*(.+.*).39-*574/*(95*72.98 <.11(447).3&9*<.9-$+47&5574;&14+9-* *89.3,.7) 1&357.4794574/*(9.3.9.&9.43 *1.;*7&'1*8 *89.3,.7) 1&394$ 88:259.438#594 -4:78+47(4251*9.434+9-*51&3 +$ * ('+,*- ,"(' ' ('+,*- ,"(' +,"'!"* -*. 1+ )(*,(/(*$ +,- *+ ' ++( " , (&)%" ' *8(7.59.43 4+ "&80 *7+472 3*89.3, '.7) 8:7;*>8 &8 57*8(7.'*) .3 9-* 574/*(9 5*72.98 &3) 94 *38:7* (4251.&3(*<.9- "&3)$#543(4251*9.434+9-*8:7;*>9-**&)'.414,.89&3)243.9478<.11 574;.)*574/*(98:554798-4:1)&(9.;*3*898'*+4:3)<.9-.39-*574/*(9&7*&&3)':++*7&3)34<470':++*7 Attachment A ECORP ScopePage 1 of 4 *% #$(& '! '&" ) & $!%& #!&&') *!) ł6DQ'LHJR ł7HO ł)D[ ł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age 2 of 4 *% #$(& '! '&" ) & $!%& #!&&') *!) ł6DQ'LHJR ł7HO ł)D[ łZZZHFRUSFRQVXOWLQJFRP +$),"(' % * ('+,*- ,"('(, '" % ++ ++& ',-*. 1 *8(7.59.434+"&80+9-*7*.8&)*1&>.3574/*(9(43897:(9.43 <.11(43):(9&'49&3.(&17*&88*882*39 8:7;*>+4(:8*)43&1.+473.& &9.;* 1&39!4(.*9> !1.89<.9-.39-*(43897:(9.43).89:7'&3(*&7*&<.9-.3 &>*&757.47949-*.3.9.&9.434+9-*(43897:(9.43&(9.;.9.*8 *1.;*7&'1*8!:7;*>7*8:1981*99*77*5479 88:259.438 31>.+(43897:(9.43.8)*1&>*)#594&+:11)&>8:7;*>7*6:.7*) +$ * ('+,*- ,"('-%,-* % +(-* +-))(*, *8(7.59.434+"&80 <.11+&(.1.9&9*47&.).3+&(.1.9&9.3,9-*14(&9.3,51&(*2*392&.39*3&3(*&3) 9&0*)4<34+3;.7432*39&11>!*38.9.;*7*&8!89-74:,-4:99-* 74/*(97*&.3(4251.&3(*<.9- 2*&8:7*8#9-74:,-# "-*8*2*&8:7*8(438.894+ x.11:897&9.3,&3))*8(7.'.3,!8.39-* 1&38!5*(.+.(&9.438&3)89.2&9*85&(0&,* x&57*(43897:(9.432**9.3,<.9-9-*43897:(9.43!:5*7;.847&3)(43897:(9.435*78433*19-&9 ).8(:88*8!8 x&+.*1)7*;.*<4+!14(&9.438&3)&77&3,.3,+47243.947.3,4+!+*3(*.389&11&9.43&91*&899-7** <**0857.479489&794+(43897:(9.43 x&7*;.*<4+!14(&9.43843*<**057.479489&794+(43897:(9.43&3) x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x:),*9&88:2*8 )&>84+(:19:7&17*84:7(*8243.947.3,<.11'*7*6:.7*)&9&)&.1>7&9*+574/*(9 3**)87*6:.7*&,7*&9*7*++479&(-&3,*47)*7<.11'*7*6:.7*)&3) <.1157*5&7*&8(45*&3) (489'&8*)439-&91*;*14+*++4793*(*88&7>94&((4251.8-&)).9.43&19&808 x:11)&> 7&9* .8 '&8*) 43 247* 9-&3 +4:7 -4:78 '.11*) 94 9-* 574/*(9 +47 9-* )&> 38.9* (&3(*11&9.438&3)-4:78'.11*)1*889-&3+4:7 -4:78949-*574/*(9+479-*)&><.11'*'.11*)&943* -&1+4+9-*+:11)&>7&9* Page 3 of 4 *% #$(& '! '&" ) & $!%& #!&&') *!) ł6DQ'LHJR ł7HO ł)D[ łZZZHFRUSFRQVXOWLQJFRP x 479-*5:7548*84+9-.8574548&1.9.8&88:2*)9-&934:3&39.(.5&9*)(:19:7&17*84:7(*).8(4;*7.*8 <.113**)94'*7*(47)*)):7.3,9-*574548*)(43897:(9.43+(:19:7&17*84:7(*8&7*14(&9*)9-&9 7*6:.7*&)).9.43&1<470+47*;&1:&9.434797*&92*39&(-&3,*47)*7<.11'*7*6:.7*)&3)&8*5&7&9* 8(45*&3)(489<.11'*57*5&7*)'&8*)439-*1*;*14+*++4797*6:.7*) x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age 4 of 4 L<=6=H (5;9C: & -%,' * % &, *9+7CD9C:+9FJ=79G !: H<9 +7CD9 C: +9FJ=79G =B7@I89 7CBGHFI7H=CB 5@H9F5H=CB 89AC@=H=CB =BGH5@@5H=CBF9D5=FCFA5=BH9B5B795::97H=B;F95@DFCD9FHMCFGHFI7HIF9GCF =ADFCJ9A9BHGC:5BM?=B85DDIFH9B5BHHCF95@DFCD9FHMH<9:C@@CK=B;5DD@M (F9J5=@=B;/5;9CAD@=5B79 !:CBHF57H=B;(5FHM=G57CBHF57HCF D9F:CFA=B; DI6@=7 KCF?G 5B8 A5=BH9B5B79 DFC>97HG 5G 89G7F=698=B H<=G +97H=CB CBHF57H=B;(5FHMG<5@@7CAD@MK=H<5DD@=756@9 989F5@+H5H95B8 @C75@@5KG CBHF57H=B;(5FHM=G5K5F9C:H<9F9EI=F9A9BHGC:5@=:CFB=5$56CF C89+97H=CBG /. , 5B8 /. , 5GK9@@5G5@=:CFB=5C89C: *9;I@5H=CBG ,=H@9 +97H=CBG / . , 7C@@97H=J9@M H<9 S(F9J5=@=B; /5;9$5KGT5B8$5)I=BH5%IB=7=D5@C89+97H=CB K<=7<F9EI=F9 H<9 D5MA9BH C: DF9J5=@=B; K5;9 F5H9G 5B8 H<9 D9F:CFA5B79 C: CH<9F F9EI=F9A9BHGCBS(I6@=7KCF?GT5B8S%5=BH9B5B79TDFC>97HG !:H<9+9FJ=79G 5F969=B;D9F:CFA985GD5FHC:5B5DD@=756@9S(I6@=7KCF?GTCFS%5=BH9B5B79T DFC>97H5G89:=B986MH<9(F9J5=@=B;/5;9$5KG5B8=:7CBGHFI7H=CBKCF?CJ9F HK9BHM :=J9 H<CIG5B8 8C@@5FG 5B8 CF 5@H9F5H=CBG 89AC@=H=CB F9D5=F CF A5=BH9B5B79 KCF? CJ9F :=:H99B H<CIG5B8 8C@@5FG =G 9BH9F98=BHCCF9LH9B898CBCF5:H9F"5BI5FM 6MH<=G;F99A9BH CBHF57H=B; (5FHM 5;F99G HC :I@@M 7CAD@M K=H< GI7< (F9J5=@=B; /5;9 $5KG =B7@I8=B; 6IH BCH @=A=H98 HC F9EI=F9A9BHG F9@5H98 HC H<9 A5=BH9B5B79 C: D5MFC@@F97CF8G5B8H<99AD@CMA9BHC:5DDF9BH=79G (IFGI5BHHC5@=:CFB=5 $56CFC89+97H=CB BC7CBHF57HCFCFGI67CBHF57HCFA5M695K5F898 57CBHF57H:CFDI6@=7KCF?CB5S(I6@=7KCF?GTDFC>97HIB@9GGF9;=GH9F98K=H< H<95@=:CFB=5 9D5FHA9BHC:!B8IGHF=5@*9@5H=CBGS !*T5HH<9 H=A9 H<9 7CBHF57H=G5K5F898 !:H<9+9FJ=79G5F969=B;D9F:CFA985GD5FH C: 5B 5DD@=756@9 S(I6@=7 KCF?GT CF S%5=BH9B5B79T DFC>97H 5G 89:=B986M H<9 (F9J5=@=B;/5;9$5KGH<=GDFC>97H=GGI6>97HHC7CAD@=5B79ACB=HCF=B;5B8 9B:CF79A9BH6MH<9 !* CBHF57H=B;(5FHMK=@@A5=BH5=B5B8K=@@F9EI=F95@@ GI67CBHF57HCFG HC A5=BH5=B J5@=8 5B8 7IFF9BH !* (I6@=7 /CF?G 7CBHF57HCF F9;=GHF5H=CB8IF=B;H<9H9FAC:H<=G;F99A9BH CBHF57H=B;(5FHMG<5@@BCH=:M =HM=BKF=H=B;=AA98=5H9@M5B8=BBC75G9ACF9H<5BHK9BHM :CIF<CIFG 5:H9FF979=J=B;5BM=B:CFA5H=CBH<5HCBHF57H=B;(5FHMUGCF5BMC:=HG GI67CBHF57HCFUG !*F9;=GHF5H=CBGH5HIG<5G699BGIGD9B898F9JC?989LD=F98 CFCH<9FK=G97<5B;98 !H=GIB89FGHCC8H<5H=H=GH<9F9GDCBG=6=@=HM C: CBHF57H=B;(5FHMHC89H9FA=B9H<97CFF97HG5@5FMG75@9 CBHF57H=B;(5FHM G<5@@A5?97CD=9GC:H<9DF9J5=@=B;F5H9GC:D9F8=9AK5;9G:CF957<7F5:H 7@5GG=:=75H=CBCFHMD9C:KCF?9FB99898HC9L97IH9H<9+9FJ=79G5J5=@56@9HC =BH9F9GH98D5FH=9GIDCBF9EI9GH5B8G<5@@DCGH7CD=9G5HCBHF57H=B;(5FHMUG DF=B7=D5@ D@579 C: 6IG=B9GG 5B8 5H H<9 DFC>97H G=H9 =: 5BM ,<9 GH5HIHCFM D9B5@H=9G:CF:5=@IF9HCD5MDF9J5=@=B;K5;9CFHC7CAD@MK=H<+H5H9K5;95B8 <CIF@5KGK=@@699B:CF798 CBHF57H=B;(5FHMAIGH:CF:9=HHC=HM,/ &,1 L<=6=H (5;9C: !. '$$*+ D9F85M:CF957<KCF?9FK<CKCF?G=B9L79GGC:H<9 A=B=AIAKCF?=B;<CIFGK<9BCBHF57H=B;(5FHM8C9GBCHD5MCJ9FH=A9 !B 577CF85B79K=H<H<9DFCJ=G=CBGC:$56CFC89+97H=CBG /. , 9=;<H <CIFG=GH<9@9;5@KCF?=B;85M CBHF57H=B;(5FHM5@GCG<5@@7CAD@MK=H< +H5H9 @5K F9EI=F9A9BHG HC A5=BH5=B D5MFC@@ F97CF8G 5B8 G<5@@ DFCJ=89 :CF 79FH=:=98F97CF8G5B8=BGD97H=CBC:F97CF8G5GF9EI=F986M5@=:CFB=5$56CFC89 +97H=CB / . , =B7@I8=B; +97H=CB !B 588=H=CB HC H<9 CH<9F =B89AB=H=9GDFCJ=898IB89FH<=G;F99A9BHCBHF57H=B;(5FHMG<5@@89:9B8 K=H<7CIBG9@G9@97H986M=HM=B89AB=:M5B8<C@8=HM=HG9@97H98C::=7=5@G C::=79FG9AD@CM99G5B85;9BHG:F995B8<5FA@9GG:FCA5BM7@5=ACF@=56=@=HM 5F=G=B;CIHC:5BM:5=@IF9CF5@@9;98:5=@IF9HC7CAD@MK=H<H<9(F9J5=@=B;/5;9 $5KG !H=G5;F9986MH<9D5FH=9GH<5H=B7CBB97H=CBK=H<D9F:CFA5B79C:H<9 +9FJ=79G=B7@I8=B;K=H<CIH@=A=H5H=CB5BM5B85@@S(I6@=7KCF?GT5G89:=B98 6MH<9(F9J5=@=B;/5;9$5KGCBHF57H=B;(5FHMG<5@@695F5@@F=G?GC:D5MA9BH CF BCB D5MA9BH C: DF9J5=@=B; K5;9G IB89F 5@=:CFB=5 @5K 5B8 CFH<9 =AD@9A9BH5H=CBC:$56CFC89+97H=CB 5GH<9G5A9A5M695A9B898 :FCA H=A9 HC H=A9 5B8 CF 5BM CH<9F G=A=@5F @5K CBHF57H=B; (5FHM 57?BCK@98;9G 5B8 5;F99G H<5H =H G<5@@ 69 =B89D9B89BH@M F9GDCBG=6@9 :CF F9J=9K=B; H<9 5DD@=756@9 @5KG 5B8 F9;I@5H=CBG 5B8 9::97HI5H=B;7CAD@=5B79 K=H<GI7<@5KG CBHF57H=B;(5FHMG<5@@F9EI=F9H<9G5A9C:5@ @GI67CBHF57HCFG *9H9BH=CB (5MA9BHG G<5@@ 69 A589 =B 577CF85B79 K=H< H<9 DFCJ=G=CBGC:+97H=CB C:H<9;F99A9BH !B577CF85B79K=H<G5=8+97H=CBG =HMG<5@@D5MCBHF57H=B;(5FHM5GIA65G98IDCBB=B9HM :=J9D9F79BH C:H<9CBHF57H+IA5DDCFH=CBA9BHC:H<9@56CF5B8A5H9F=5@G=B7CFDCF5H98 =BHCH<9+9FJ=79GIB89FH<=G;F99A9BH8IF=B;H<9ACBH<7CJ9F986MG5=8 =BJC=79 ,<9 F9A5=B=B; :=J9 D9F79BH H<9F9C: G<5@@ 69 F9H5=B98 5G D9F:CFA5B79G97IF=HMHC69D5=8HCCBHF57H=B;(5FHMK=H<=BG=LHM 85MG 5:H9F :=B5@ 5779DH5B79 C: H<9 +9FJ=79G 6M H<9 =HM CIB7=@ C: =HM 5:H9F CBHF57H=B;(5FHM<5G:IFB=G<98=HMK=H<5:I@@F9@95G9C:5@@ IB8=GDIH98 D5MA9BHGIB89FH<=G;F99A9BH=:F9EI=F986M=HM !BH<99J9BHH<9F95F9 5BM7@5=AGGD97=:=75@@M9L7@I8986MCBHF57H=B;(5FHM:FCAH<9CD9F5H=CBC:H<9 F9@95G9=HMA5MF9H5=BDFC7998GD9F(I6@=7CBHF57HC89Q C:IDHC CB9<IB8F98:=:HMD9F79BH C:H<95ACIBH=B8=GDIH9 =HMUG:5=@IF9HC 898I7HCFK=H<<C@8G<5@@BCH5::97HCBHF57H=B;(5FHMUGC6@=;5H=CBGIB89FH<9 ;F99A9BH -H=@=HM*9@C75H=CB =HM=GF9GDCBG=6@9:CFF9ACJ5@F9@C75H=CBCF DFCH97H=CBC:9L=GH=B;A5=BCFHFIB? @=B9IH=@=H=9GHCH<99LH9BHGI7<IH=@=H=9G K9F9 BCH =89BH=:=98 =B H<9 =BJ=H5H=CB :CF 6=8G CF GD97=:=75H=CBG =HM G<5@@ F9=A6IFG9 CBHF57H=B; (5FHM :CF 5BM 7CGHG =B7IFF98 =B @C75H=B; F9D5=F=B; 85A5;9BCH75IG986MCBHF57H=B;(5FHM5B8F9ACJ=B;CFF9@C75H=B;GI7< IB=89BH=:=98IH=@=HM:57=@=H=9G CBHF57H=B;(5FHMG<5@@BCH695GG9GG98@=EI=85H98 L<=6=H (5;9C: 85A5;9G:CF89@5M5F=G=B;:FCAH<9F9ACJ5@CFF9@C75H=CBC:GI7<IB=89BH=:=98 IH=@=HM:57=@=H=9G ,F9B7<9GCF L75J5H=CBG (IFGI5BHHC5@=:CFB=5(I6@=7CBHF57H C89+97H=CB =BH<99J9BHH<9KCF?=B7@I898=BH<=G;F99A9BHF9EI=F9G 9L75J5H=CBGACF9H<5B:CIF:99H=B89DH<H<9:C@@CK=B;G<5@@5DD@M %CBHF57H=B;(5FHMG<5@@DFCADH@M5B869:CF9H<9:C@@CK=B; 7CB8=H=CBG 5F9 8=GHIF698 BCH=:M =HM =B KF=H=B; C: 5BM A5H9F=5@ H<5H CBHF57H=B; (5FHM 69@=9J9G A5M 69 A5H9F=5@ H<5H =G <5N5F8CIG K5GH9 5G 89:=B98=B+97H=CB C:H<9 95@H<5B8+5:9HMC89H<5H=GF9EI=F98HC69 F9ACJ98HC5@5GG!@5GG!!CF@5GG!!!8=GDCG5@G=H9=B577CF85B79K=H< DFCJ=G=CBGC:9L=GH=B;@5KGI6GIF:579CF@5H9BHD<MG=75@7CB8=H=CBG5HH<9 G=H9 8=::9F9BH :FCA H<CG9 =B8=75H98 6M =B:CFA5H=CB 56CIH H<9 G=H9 A589 5J5=@56@9HC6=889FGDF=CFHCH<98958@=B9:CFGI6A=HH=B;6=8GCFIB?BCKB D<MG=75@7CB8=H=CBG5HH<9G=H9C:5BMIBIGI5@B5HIF98=::9F9BHA5H9F=5@@M:FCA H<CG9CF8=B5F=@M9B7CIBH9F985B8;9B9F5@@MF97C;B=N985G=B<9F9BH=BKCF?C: H<97<5F57H9FDFCJ=898:CF=BH<9;F99A9BH &=HMG<5@@DFCADH@M=BJ9GH=;5H9H<97CB8=H=CBG5B8=:=H:=B8G H<5HH<97CB8=H=CBG8CA5H9F=5@@MGC8=::9FCF8C=BJC@J9<5N5 F8CIGK5GH95B8 75IG9 5 897F95G9 CF =B7F95G9 =B CBHF57H=B; (5FHMUG 7CGH C: CFH<9H=A9 F9EI=F98:CFD9F:CFA5B79C:5BMD5FHC:H<9KCF?G<5@@=GGI957<5B;9CF89F D9F+97H=CB C:H<9;F99A9BH '=BH<99J9BHH<5H58=GDIH95F=G9G69HK99B=HM5B8 CBHF57H=B; (5FHM K<9H<9F H<9 7CB8=H=CBG A5H9F=5@@M 8=::9F CF=BJC@J9 <5N5F8CIGK5GH9CF75IG95897F95G9CF=B7F95G9=BCBHF57H=B;(5FHMUG7CGH C:CFH=A9F9EI=F98:CFD9F:CFA5B79C:5BMD5FHC:H<9KCF?CBHF57H=B; (5FHMG<5@@BCH699L7IG98:FCA5BMG7<98I@987CAD@9H=CB85H9DFCJ=898:CF 6MH<=G;F99A9BH6IHG<5@@DFC7998K=H<5@@KCF?HC69D9F:CFA98IB89FH<=G ;F99A9BH CBHF57H=B;(5FHMG<5@@F9H5=B5BM5B85@@F=;<HGDFCJ=8989=H<9F 6M7CBHF57HCF6M@5KK<=7<D9FH5=BHCH<9F9GC@IH=CBC:8=GDIH9G5B8DFCH9GHG 69HK99BH<97CBHF57H=B;(5FH=9G +5:9HM CBHF57H=B;(5FHMG<5@@9L97IH95B8A5=BH5=B=HGKCF?GC 5GHC5JC=8=B>IFMCF85A5;9HC5BMD9FGCBCFDFCD9FHM !B75FFM=B;CIHH<9 +9FJ=79G CBHF57H=B; (5FHM G<5@@ 5H 5@@ H=A9G 69 =B 7CAD@=5B79 K=H< 5@@ 5DD@=756@9@C75@GH5H95B8:989F5@@5KGFI@9G5B8F9;I@5H=CBG 5B8 G<5@@ 9L9F7=G95@@B979GG5FMDF975IH=CBG:CFH<9G5:9HMC:9AD@CM99G5DDFCDF=5H9HC H<9B5HIF9C:H<9KCF?5B8H<97CB8=H=CBGIB89FK<=7<H<9KCF?=GHC 69 D9F:CFA98 +5:9HMDF975IH=CBG5G5DD@=756@9G<5@@=B7@I896IHG<5@@BCH69 @=A=H98 HC 589EI5H9 @=:9 DFCH97H=CB 5B8 @=:9G5J=B; 9EI=DA9BH 5B8 DFC798IF9G =BGHFI7H=CBG =B 577=89BH DF9J9BH=CB :CF 5@@ 9AD@CM99G 5B8 GI67CBHF57HCFG GI7< 5G G5:9 K5@?K5MG G75::C@8G :5@@ DFCH97H=CB @5889FG L<=6=H (5;9C: 6F=8;9G ;5B; D@5B?G 7CB:=B98 GD579 DFC798IF9G HF9B7<=B; 5B8G<CF=B; 9EI=DA9BH5B8CH<9FG5:9HM89J=79G9EI=DA9BH5B8K95F=B;5DD5F9@5G5F9 B979GG5FM CF @5K:I@@M F9EI=F98 HC DF9J9BH 577=89BHG CF =B>IF=9G 5B8 589EI5H9:57=@=H=9G:CFH<9DFCD9F=BGD97H=CB5B8A5=BH9B5B79C:5@@G5:9HM A95GIF9G $=EI=85H98 5A5;9G +=B79H<989H9FA=B5H=CBC:57HI5@85A5;9G :CF5BM89@5M=BD9F:CFA5B79C:H<9;F99A9BHKCI@8699LHF9A9@M8=::=7I@HCF =ADF57H=75@HC89H9FA=B9=BH<99J9BHC:56F957<C:H<=G;F99A9BH CBHF57H=B;(5FHMG<5@@69@=56@9:CF5B8G<5@@D5MHC=HMH<9GIAC:'B9 ,<CIG5B88C@@5FG 5G@=EI=85H9885A5;9G:CF957<KCF?=B;85MC: 89@5M=BH<9D9F:CFA5B79C:5BMC:H<9+9FJ=79GF9EI=F98<9F9IB89F 5G GD97=:=98=BH<9+7<98I@9C:(9F:CFA5B79 !B588=H=CB@=EI=85H9885A5;9G A5M 69 5GG9GG98 :CF :5=@IF9 HC 7CAD@M K=H< H<9 9A9F;9B7M 75@@ CIH F9EI=F9A9BHG=:5BM89G7F=698=BH<9+7CD9C:+9FJ=79G =HMA5MK=H<<C@8 :FCA 5BM ACB9MG D5M56@9 CB 577CIBH C: H<9 +9FJ=79G D9F:CFA98 6M CBHF57H=B;(5FHM5BM577FI98@=EI=85H9885A5;9G L<=6=H (5;9 C: L<=6=H +7<98I@9C:CAD9BG5H=CB /=H<H<99L79DH=CBC:7CAD9BG5H=CB:CF88=H=CB5@+9FJ=79GDFCJ=898:CF =B+97H=CB C:H<=G;F99A9BHH<9A5L=AIAHCH5@7CAD9BG5H=CBHC69D5=8 HCCBHF57H=B;(5FHMIB89FH<=G;F99A9BH=GBCHHC9L7998,KC%=@@=CB+9J9B IB8F98 5B8 +=LHM ,<CIG5B87KUHH IB8F987ZHQW\(LJKW C@@5FG5B8 )LIHM =;<H9BHG SCBHF57H+IAT ,<9CBHF57H+IAG<5@@ 69 D5=8 HC CBHF57H=B; (5FHM =B =BGH5@@A9BH D5MA9BHG A589 CB 5ACBH<@M 65G=G 5B8 =B 5B 5ACIBH =89BH=:=98 =B CBHF57H=B; (5FHMUG G7<98I@9 C: 7CAD9BG5H=CB5HH57<98<9F9HC :CF H<9 KCF? H5G?G D9F:CFA98 5B8 DFCD9F@M =BJC=798 6M CBHF57H=B; (5FHM =B 7CB:CFA5B79 K=H< +97H=CB C: H<=G ;F99A9BH >KZ dz>/ WDͬZ :ŽƐĞƉŚ^ŵŝƚŚ dz>/ ĞƉƵƚLJZ ͬ^Z :ŽŚŶƵĐŬůĞLJ dz>/ KĨĨŝĐĞ ŶŐŝŶĞĞƌ ĂƚŚůĞĞŶDĂ&d dz>/ /ŶƐƉĞĐƚŽƌͲ ƵƌƚƐDƵƐĂƐŚŝ &d;WtͿ &ĂůĐŽŶ /ŶƐƉĞĐƚŽƌ &d;WtͿ &ĂůĐŽŶ ^tWWW/ŶƐƉ ŝŽŶĂƐƚƌŽ >ĂďŽƌ ŽŵƉůŝĂŶĐĞ KĨĨŝĐĞƌ ŚŝĂͲŚŝtĂŶŐ ; ^/Ϳ dz>/ ^ĐŚĞĚƵůĞ ZĞǀŝĞǁƐͲ tĂĚĞƵƌĂŶƚ dz>/ dĞĐŚŝŶŝĐĂů ^ƵƉƉŽƌƚ ƌŝĂŶZŽĐŚĞůůĞ dz>/ dĞĐŚŶŝĐĂů ^ƵƉƉŽƌƚ ƐŚůĞLJ DŽŶƚŐŽŵĞƌLJ dĂƐŬEŽ͘ dĂƐŬEĂŵĞ ^ƚĂƌƚ &ŝŶŝƐŚ ΨϮϴϬ͘ϴϴ ΨϮϮϱ͘ϯϮ Ψϭϲϴ͘ϰϯ ΨϭϳϬ͘ϱϴ ΨϮϬϱ͘ϲϮ ΨϮϬϰ͘Ϯϲ Ψϭϳϳ͘ϳϬ ΨϮϮϬ͘Ϭϲ Ψϭϳϱ͘ϱϯ Ψϭϯϱ͘ϭϰ ,ŽƵƌƐ ŽƐƚƐ ϭ͘ϬϬ WƌŽũĞĐƚDĂŶĂŐĞŵĞŶƚ DĂƌͲϮϮ DĂƌͲϮϰ ϭ͘ϮϬ DŽŶƚŚůLJWƌŽŐƌĞƐƐZĞƉŽƌƚƐ ͲΨ ^ƵďƚŽƚĂůƐ;,ŽƵƌƐͿс ͲΨ ^ƵďƚŽƚĂůƐ;ŽƐƚƐͿс ͲΨ ͲΨ ͲΨ ͲΨ ͲΨ ͲΨ ͲΨ ͲΨ ͲΨ ͲΨͲΨ Ϯ͘ϬϬ WƌĞͲŽŶƐƚƌƵĐƚŝŽŶ^ĞƌǀŝĐĞƐ DĂƌͲϮϮ ƉƌͲϮϮ Ϯ͘ϭ ŽŶƐƚƌƵĐƚĂďŝůŝƚLJZĞǀŝĞǁ ϭϲ ϭϲ ϴ ϰϬ ϴ͕ϲϱϱ͘ϱϮΨ Ϯ͘Ϯ WƌĞͲŝĚWĂĐŬĂŐĞZĞǀŝĞǁ ϰ ϰ ϲϳϯ͘ϳϮΨ Ϯ͘ϯ WƌĞͲŝĚDĞĞƚŝŶŐ ϰϰ ϴϭ͕ϳϮϯ͘ϳϲΨ Ϯ͘ϰ ŝĚͲKƉĞŶĞŝŶŐDĞĞƚŝŶŐ ϰ ϰ ϵϬϭ͘ϮϴΨ Ϯ͘ϱ ŝĚŶĂůLJƐŝƐ ϭϮ Ϯ Ϯ ϳ ϭ͕ϯϮϴ͘ϴϮΨ Ϯ͘ϲ ǁĂƌĚWĂĐŬĂŐĞ ϭ ϭ ϮϮϱ͘ϯϮΨ Ϯ͘ϳ WƌŽũĞĐƚtĂůŬƚŚƌŽƵŐŚ ϭ ϭ ϮϮϱ͘ϯϮΨ Ϯ͘ϴ WƌŽũĞĐƚ<ŝĐŬͲKĨĨDĞĞƚŝŶŐ ϭ ϭ ϮϮϱ͘ϯϮΨ Ϯ͘ϵ WƌĞͲŽŶƐƚƌƵĐƚŝŽŶDĞĞƚŝŶŐ ϯϮϮϮ ϵϭ͕ϳϳϵ͘ϰϲΨ Ϯ͘ϭϬ WƌĞͲŽŶƐƚƌƵĐƚŝŽŶWŚŽƚŽŽĐƵŵĞŶƚĂƚŝŽŶ ϭ ϭ ϮϮϱ͘ϯϮΨ Ϯ͘ϭϭ ZĞǀŝĞǁWƌŽũĞĐƚWĞƌŵŝƚƐ ϰ ϰ ϴϮϮ͘ϰϴΨ ^ƵďƚŽƚĂůƐ;,ŽƵƌƐͿс ϯϮ ϴ Ϯϴ ϰ ϴ ϴϬ ϭϲ͕ϳϴϲ͘ϯϮΨ ^ƵďƚŽƚĂůƐ;ŽƐƚƐͿс ͲΨϳ͕ϮϭϬ͘ϮϰΨ ϭ͕ϯϰϳ͘ϰϰΨ ͲΨϱ͕ϳϱϳ͘ϯϲΨ ͲΨϳϭϬ͘ϴϬΨ ϭ͕ϳϲϬ͘ϰϴΨ ͲΨ ͲΨϴϬ ϭϲ͕ϳϴϲ͘ϯϮΨϬ͘ϲй Ϭ͘ϲй ϯ͘ϬϬ ŽŶƐƚƌƵĐƚŝŽŶ^ĞƌǀŝĐĞƐ ƉƌͲϭϵ :ĂŶͲϮϰ ϯ͘ϭϬ ŽŶƐƚ͘DŶŵŐƚ͕/ŶƐƉ͕͘ĚŵŝŶ͘ϯϳϱϬ ϭϵϬϬ ϯϰϱϬ ϮϱϬ ϭϴϴ ϭϭϬ ϵϲϰϴ ϭ͕ϵϴϯ͕Ϭϯϱ͘ϮϬΨ ^ƵďƚŽƚĂůƐ;,ŽƵƌƐͿс ϯϳϱϬ ϭϵϬϬ ϯϰϱϬ ϮϱϬ ϭϴϴ ϭϭϬ ϵ͕ϲϰϴ ϭ͕ϵϴϯ͕Ϭϯϱ͘ϮϬΨ ^ƵďƚŽƚĂůƐ;ŽƐƚƐͿс ͲΨϴϰϰ͕ϵϱϬ͘ϬϬΨ ϯϮϬ͕Ϭϭϳ͘ϬϬΨ ͲΨϳϬϵ͕ϯϴϵ͘ϬϬΨ ϱϭ͕Ϭϲϱ͘ϬϬΨ ϯϯ͕ϰϬϳ͘ϲϬΨ Ϯϰ͕ϮϬϲ͘ϲϬΨ ͲΨ ͲΨϵ͕ϲϰϴ ϭ͕ϵϴϯ͕Ϭϯϱ͘ϮϬΨϲϵ͘ϱй ϳϭ͘ϴй ϰ͘ϬϬ WŽƐƚͲŽŶƐƚƌƵĐƚŝŽŶ^ĞƌǀŝĐĞƐ &ĞďͲϮϰ DĂƌͲϮϰ ϰ͘ϭ /ƚĞŵůŽƐĞͲKƵƚ Ϯϴ Ϯ ϭϮ Ϯ͕ϮϬϵ͘ϯϮΨ ϰ͘Ϯ ůĂŝŵƐZĞƉŽƌƚ ϰϴ ϴ ϮϬ ϯ͕ϴϵϯ͘ϲϴΨ ϰ͘ϯ WƌŽƉŽƐĞĚ&ŝŶĂů ƐƚŝŵĂƚĞ ϰϰ ϴ ϭϲ Ϯ͕ϵϵϲ͘ϲϬΨ ϰ͘ϰ WƌŽũĞĐƚZĞŝŵďƵƌƐĞŵĞŶƚ Ϯ Ϯ ϰϭϭ͘ϮϰΨ ϰ͘ϱ WƌŽũĞĐƚZĞƉŽƌƚ Ϯϰ ϲ ϭ͕ϭϮϰ͘ϯϲΨ ϰ͘ϲ ZĞĐŽƌĚƌĂǁŝŶŐƐ ϴϰ ϴ ϮϬ ϰ͕ϭϮϭ͘ϮϰΨ ^ƵďƚŽƚĂůƐ;,ŽƵƌƐͿс ϮϬ Ϯϴ ϮϬ ϴ ϳϲ ϭϰ͕ϳϱϲ͘ϰϰΨ ^ƵďƚŽƚĂůƐ;ŽƐƚƐͿс ͲΨϰ͕ϱϬϲ͘ϰϬΨ ϰ͕ϳϭϲ͘ϬϰΨ ͲΨϰ͕ϭϭϮ͘ϰϬΨ ͲΨϭ͕ϰϮϭ͘ϲϬΨ ͲΨ ͲΨ ͲΨϳϲ ϭϰ͕ϳϱϲ͘ϰϰΨϬ͘ϱй Ϭ͘ϱй ϱ͘ϬϬ ^ƵƌǀĞLJ^ĞƌǀŝĐĞƐ ϭϱϰ͕ϲϳϰ͘ϱϯΨ >^ƵƌǀĞŝŶŐ ^ƵďƚŽƚĂůƐ;,ŽƵƌƐͿс ϭϬϱϴ ϭϱϰ͕ϲϳϰ͘ϱϯΨ ^ƵďƚŽƚĂůƐ;ŽƐƚƐͿс ϭϱϰ͕ϲϳϰ͘ϱϯΨ ͲΨ ͲΨ ͲΨ ͲΨ ͲΨ ͲΨϭ͕Ϭϱϴ ϭϱϰ͕ϲϳϰ͘ϱϯΨϳ͘ϲй ϱ͘ϲй ϲ͘ϬϬ DĂƚĞƌŝĂůƐdĞƐƚŝŶŐĂŶĚ/ŶƐƉĞĐƚŝŽŶ ϭϱϲ͕ϯϱϴ͘ϲϱΨ ^K ^ƵďƚŽƚĂůƐ;,ŽƵƌƐͿс ϱϰϬ ϭϱϲ͕ϯϱϴ͘ϲϱΨ ^ƵďƚŽƚĂůƐ;ŽƐƚƐͿс ϭϱϲ͕ϯϱϴ͘ϲϱΨ ͲΨ ͲΨ ͲΨ ͲΨ ͲΨ ͲΨϱϰϬ ϭϱϲ͕ϯϱϴ͘ϲϱΨϯ͘ϵй ϱ͘ϳй ϳ͘ϬϬ ŝŽůŽŐŝĐĂůĂŶĚƵůƚƵƌĂůDŽŶŝƚŽƌŝŶŐ ϴϰ͕ϳϵϵ͘ϵϴΨ KZW ^ƵďƚŽƚĂůƐ;,ŽƵƌƐͿс ϳϳϭ ϴϰ͕ϳϵϵ͘ϵϴΨ ^ƵďƚŽƚĂůƐ;ŽƐƚƐͿс ϴϰ͕ϳϵϵ͘ϵϴΨ ͲΨ ͲΨ ͲΨ ͲΨ ͲΨ ͲΨϳϳϭ ϴϰ͕ϳϵϵ͘ϵϴΨϱ͘ϲй ϯ͘ϭй ϴ͘ϬϬ WƵďůŝĐKƵƚƌĞĂĐŚ ϭϮϯ͕ϰϭϰ͘ϭϬΨ ŽŶŶĞĐƚĂŶĚŽŵƉĂŶLJ ^ƵďƚŽƚĂůƐ;,ŽƵƌƐͿс ϭϭϰϱ ϭϮϯ͕ϰϭϰ͘ϭϬΨ ^ƵďƚŽƚĂůƐ;ŽƐƚƐͿс ϭϮϯ͕ϰϭϰ͘ϭϬΨ ͲΨ ͲΨ ͲΨ ͲΨ ͲΨ ͲΨϭ͕ϭϰϱ ϭϮϯ͕ϰϭϰ͘ϭϬΨϴ͘ϯй ϰ͘ϱй ϵ͘ϬϬ /,WŝůĞĐĐĞƉƚĂŶĐĞ;KͿ ͲΨ ĂƌƚŚƐƉĞĐƚŝǀĞƐͲ;ƐŶĞĞĚĞĚͿ ^ƵďƚŽƚĂůƐ;,ŽƵƌƐͿс ͲΨ ŽƐƚƐůŝƐƚĞĚĂƐKďĞůŽǁ ^ƵďƚŽƚĂůƐ;ŽƐƚƐͿс ͲΨ ͲΨ ͲΨ ͲΨ ͲΨ ͲΨͲΨ ϭϬ͘ϬϬ ůĞĐƚƌŝĐĂů/ŶƐƉĞĐƚŝŽŶ ϱϵ͕ϵϮϯ͘ϳϯΨ ^/;:ŽŚŶ<ĂŶŶŽƌͿ ^ƵďƚŽƚĂůƐ;,ŽƵƌƐͿс ϯϲϬ ϱϵ͕ϵϮϯ͘ϳϯΨ ŝƚLJŽĨ>ĂYƵŝŶƚĂ ŽŶƐƚƌƵĐƚŝŽŶDĂŶĂŐĞŵĞŶƚĂŶĚ/ŶƐƉĞĐƚŝŽŶ^ĞƌǀŝĐĞƐĨŽƌƵŶĞWĂůŵƐZŽĂĚĂŶĚƌŝĚŐĞWƌŽũĞĐƚ ŽƐƚWƌŽƉŽƐĂů dŽƚĂů,ŽƵƌƐ dŽƚĂůƐ WĞƌĐĞŶƚŽĨdŽƚĂů ŝƚLJŽĨ>ĂYƵŝŶƚĂ ŽŶƐƚƌƵĐƚŝŽŶDĂŶĂŐĞŵĞŶƚĂŶĚ/ŶƐƉĞĐƚŝŽŶ^ĞƌǀŝĐĞƐĨŽƌƵŶĞWĂůŵƐZŽĂĚĂŶĚƌŝĚŐĞWƌŽũĞĐƚ ŽƐƚWƌŽƉŽƐĂů ^ƵďƚŽƚĂůƐ;ŽƐƚƐͿс ϱϵ͕ϵϮϯ͘ϳϯΨ ͲΨ ͲΨ ͲΨ ͲΨ ͲΨ ͲΨϯϲϬ ϱϵ͕ϵϮϯ͘ϳϯΨϮ͘ϲй Ϯ͘Ϯй ϭϭ͘ϬϬ ^ŽƵƌĐĞ/ŶƐƉĞĐƚŝŽŶYƵĂůůŝƚLJDĂŶĂŐĞŵĞŶƚ ϯϱ͕ϰϰϯ͘ϰϭΨ dŽŶƐƵůƚŝŶŐ'ƌŽƵƉ ^ƵďƚŽƚĂůƐ;,ŽƵƌƐͿс ϮϬϬ ϯϱ͕ϰϰϯ͘ϰϭΨ ^ƵďƚŽƚĂůƐ;ŽƐƚƐͿс ϯϱ͕ϰϰϯ͘ϰϭΨ ͲΨ ͲΨ ͲΨ ͲΨ ͲΨ ͲΨϮϬϬ ϯϱ͕ϰϰϯ͘ϰϭΨϭ͘ϰй ϭ͘ϯй dŽƚĂů;,ŽƵƌƐͿс ϯϴϬϮ ϭϵϯϲ ϯϰϵϴ ϮϱϬ ϮϬϬ ϭϭϴ dŽƚĂů;ŽƐƚƐͿс ͲΨϴϱϲ͕ϲϲϲ͘ϲϰΨ ϯϮϲ͕ϬϴϬ͘ϰϴΨ ͲΨϳϭϵ͕Ϯϱϴ͘ϳϲΨ ϱϭ͕Ϭϲϱ͘ϬϬΨ ϯϱ͕ϱϰϬ͘ϬϬΨ Ϯϱ͕ϵϲϳ͘ϬϴΨ ͲΨ ͲΨϭϯ͕ϴϳϴ Ϯ͕ϲϮϵ͕ϭϵϮ͘ϯϲΨ WĞƌĐĞŶƚĂŐĞŽĨdŽƚĂů;,ŽƵƌƐͿс Ϯϳ͘ϰй ϭϰ͘Ϭй Ϯϱ͘Ϯй ϭ͘ϴй ϭ͘ϰй Ϭ͘ϵй ϳϬ͘ϲй WĞƌĐĞŶƚĂŐĞŽĨdŽƚĂů;ŽƐƚƐͿс ϯϭ͘Ϭй ϭϭ͘ϴй Ϯϲ͘ϭй ϭ͘ϴй ϭ͘ϯй Ϭ͘ϵй ϳϯ͘Ϭй d͘z͘>ŝŶ/ŶƚĞƌŶĂƚŝŽŶĂů dKd>WZKWK^ K^d ŽƐƚͬDŽŶƚŚ hŶŝƚ dŽƚĂů >ĂďŽƌс Ϯ͕ϲϮϵ͕ϭϵϮ͘ϯϲΨ ϭ͕ϮϱϬ͘ϬϬΨ ϰϱ͘ϬϬ ϱϲ͕ϮϱϬ͘ϬϬΨϮϬϮϮ ƐĐĂůĂƚŝŽŶс ϭϯ͕ϭϲϱ͘ϴϳΨϰй ͲΨϮϬϮϯ ƐĐĂůĂƚŝŽŶс Ϯϭ͕ϵϰϯ͘ϭϭΨϰй ϱϲ͕ϮϱϬ͘ϬϬΨϮϬϮϰ ƐĐĂůĂƚŝŽŶс ϴ͕ϳϳϳ͘ϮϰΨϰй KƐс ϴϳ͕ϮϱϬ͘ϬϬΨ hŶŝƚŽƐƚ hŶŝƚ dŽƚĂů ϭϬϳ͘Ϯй Ϯϱ͕ϬϬϬ͘ϬϬΨ ϭ Ϯϱ͕ϬϬϬ͘ϬϬΨdŽƚĂůс Ϯ͕ϳϲϬ͕ϯϮϴ͘ϱϴΨ Ϯϱ͕ϬϬϬ͘ϬϬΨ hŶŝƚŽƐƚ hŶŝƚ dŽƚĂů dŽƚĂůΨ ϱϮϵ͕ϵϭϭ͘ϬϭΨ ϲ͕ϬϬϬ͘ϬϬΨϭ ϲ͕ϬϬϬ͘ϬϬΨ й ϭϵ͘ϮϬй ϲ͕ϬϬϬ͘ϬϬΨ KƐdKd>с ϴϳ͕ϮϱϬ͘ϬϬΨ Kd, Z/Z dK^d^ /ƚĞŵ WƌŽĨŝůŽŐƌĂƉŚƌŝĚŐĞĞĐŬ /ƚĞŵ /,WŝůĞYͲ ĂƌƚŚƐƉĞĐƚŝǀĞƐ /ƚĞŵ sĞŚŝĐůĞ;DŝůĞƐͿ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¶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¶VRUVXEFRQVXOWDQW¶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¶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¶VRUVXEFRQVXOWDQW¶VRUJDQL]DWLRQDW DOHYHOQRORZHUWKDQD9LFH3UHVLGHQWRUD&KLHI)LQDQFLDO2IILFHURUHTXLYDOHQWZKRKDV DXWKRULW\WRUHSUHVHQWWKHILQDQFLDOLQIRUPDWLRQXWLOL]HGWRHVWDEOLVKWKHFRVWSURSRVDOIRUWKH FRQWUDFW $QGUHD6XDUH] $:6 DQGUHD#FRQQHFWFRSUFRP &DUOVEDG9LOODJH'ULYH6WH&DUOVEDG&$ /RFDO$VVLVWDQFH3URFHGXUHV0DQXDO /LVWVHUYLFHVWKHFRQVXOWDQWLVSURYLGLQJXQGHUWKHSURSRVHGFRQWUDFW WZK: d</<ͲK&& ϮͲϯŵŽŶƚŚƐ •ĞǀĞůŽƉƉƌŽũĞĐƚŽƵƚƌĞĂĐŚƉůĂŶ •ĞƐŝŐŶƉƌŽũĞĐƚĐŽůůĂƚĞƌĂů •/ŶŝƚŝĂƚĞĂŶĚŵĂŶĂŐĞĐŽŶƚĞŶƚĨŽƌ^ŽĐŝĂůDĞĚŝĂƉĂŐĞƐ •^ĞƚƵƉĂŶĚŵĂŶĂŐĞŽŶƐƚƌƵĐƚŝŽŶ,ŽƚůŝŶĞ •ĞǀĞůŽƉĐŽŶƚĞŶƚĨŽƌŝƚLJǁĞďƐŝƚĞ •WůĂŶĂŶĚŚŽƐƚ ŵĞƌŐĞŶĐLJ^ĞƌǀŝĐĞƐĂŶĚ<ĞLJ^ƚĂŬĞŚŽůĚĞƌDĞĞƚŝŶŐ •'ƌĂƐƐƌŽŽƚƐŽƵƚƌĞĂĐŚƚŽďƵƐŝŶĞƐƐĞƐĂŶĚƌĞƐŝĚĞŶƚƐŝŶƉƌŽũĞĐƚĂƌĞĂ •ƚƚĞŶĚǁĞĞŬůLJĐŽŶƐƚƌƵĐƚŝŽŶŵĞĞƚŝŶŐƐĨŽƌĨŝƌƐƚŵŽŶƚŚƚŚĞŶďŝͲǁĞĞŬůLJ •ĞůŝǀĞƌǁĞĞŬůLJŽŶƐƚƌƵĐƚŝŽŶůĞƌƚƐͬhƉĚĂƚĞƐ D/Ed EE DK ͲͲϲϴǁĞĞŬƐ •ƚƚĞŶĚĐŽŶƐƚƌƵĐƚŝŽŶŵĞĞƚŝŶŐƐŝŶƉĞƌƐŽŶ;ϮdžŵŽŶƚŚͿĂŶĚŽŶůŝŶĞ •ĞůŝǀĞƌǁĞĞŬůLJŽŶƐƚƌƵĐƚŝŽŶůĞƌƚƐͬhƉĚĂƚĞƐ •WƌŽǀŝĚĞǁĞĞŬůLJ͕ĂŶĚĂƐŶĞĞĚĞĚ͕ƐŽĐŝĂůŵĞĚŝĂƉŽƐƚ •WƌŽǀŝĚĞĐŽŶƚĞŶƚĨŽƌŝƚLJǁĞďƐŝƚĞ •DĂŶĂŐĞŽŶƐƚƌƵĐƚŝŽŶ,ŽƚůŝŶĞ •WƌŽǀŝĚĞŽƵƚƌĞĂĐŚĂƐŶĞĞĚĞĚ WZK: dD/> ^dKE ^ •ƚƚĞŶĚƉƌĞͲĐŽŶƐƚƌƵĐƚŝŽŶŵĞĞƚŝŶŐƐĨŽƌƉƌŽũĞĐƚŵŝůĞƐƚŽŶĞƐ •ĞǀĞůŽƉĂŶĚĞdžĞĐƵƚĞŵŝŶŝŽƵƚƌĞĂĐŚƉůĂŶƐ oWůĂŶĂŶĚŚŽƐƚĞŵĞƌŐĞŶĐLJƐĞƌǀŝĐĞƐŵĞĞƚŝŶŐƐĂƐŶĞĐĞƐƐĂƌLJ oĞǀĞůŽƉĐŽůůĂƚĞƌĂůĨŽƌǁĞďƐŝƚĞ͕ƐŽĐŝĂůŵĞĚŝĂĂŶĚĂůĞƌƚƐ o^ƚĂŬĞŚŽůĚĞƌŽƵƚƌĞĂĐŚ o'ƌĂƐƐƌŽŽƚƐŽƵƚƌĞĂĐŚ 3DJHRI -DQXDU\ (;+,%,7+ &RVW3URSRVDO (;+,%,7+&267352326$/3DJHRI #?31<BB9BC1>35'A?354DA5B$1>D1< F8929C ?BC'A?@?B1< *FK<)8IB LGJ8I<*FK CCFN<;տ,I@D< FEJLCK8EKց/L9:FEJLCK8EK ܆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x0?@J@JEFKK?<FECPN8PKF<JK@D8K<J8C8IP@E:I<8J<J+K?<ID<K?F;JN@CC9<8::<GK<;@=K?<P:C<8ICP@E;@:8K<K?<@E:I<8J< K?<F=P<8IJF=K?<:FEKI8:K 8E;89I<8B;FNEF=K?<C89FIKF9<G<I=FID<;<8:?P<8I x E<JK@D8K@FEK?8K@J98J<;FE;@I<:KC89FIDLCK@GC@<;9PJ8C8IP@E:I<8J<DLCK@GC@<;9PK?<F=P<8IJ@JEFK8::<GK89C< @< OOPIJ @JEFK8E8::<GK89C<D<K?F;FCF>P x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տ(F=A9 CBGI@H5BHց+I67CBGI@H5BH܆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x,<=G=GBCHH<9CB@MK5MHC9GH=A5H9G5@5FM=B7F95G9G 'H<9FA9H<C8GK=@@695779DH98=:H<9M7@95F@M=B8=75H9H<9=B7F95G9 H<9C:M95FGC:H<97CBHF57H 5B856F95?8CKBC:H<9@56CFHC69D9F:CFA98957<M95F xB9GH=A5H=CBH<5H=G65G98CB8=F97H@56CFAI@H=D@=986MG5@5FM=B7F95G9AI@H=D@=986MH<9C:M95FG=GBCH5779DH56@9 = 9 LLMFG =GBCH5B5779DH56@9A9H<C8C@C;M x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o. - BRKLS-5433(014) | CITY PROJECT No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x)63C<3%/:;A'=/2@7253%@=831B%@=831BBB/16;3<B E7::@3>:/13 B633F7AB7<5:=EE/B3@1@=AA7<5E7B6/</::E3/B63@/113AA0@7253=<C<3 %/:;A'=/2/BB63=/163::/+/::3G(B=@;,/B3@6/<<3:+(, x)63 /:B@/<A A>=<A=@32 756E/G @7253 % C<27<5 %@=5@/; 7A =D3@AC0A1@70324=@323@/:7A1/:-3/@A- /<2 #3E >@=5@/;;7<51/>/17BG7A1C@@3<B:GC</D/7:/0:34=@<3E>@=831BA/:@3/2G7< 1=<AB@C1B7=<=@@3/2GB=/2D3@B7A3 x < C<3 =C<17: 27@31B32 AB/44 B= ;=D3 4=@E/@2 E7B6 J/B @7A9K /2D/<134C<27<5CA7<5B63/:B@/<A2D/<13=<AB@C1B7=<%@=132C@34=@ B631=<AB@C1B7=<>6/A3=4B63%@=831B/<2/:B@/<A6/A/>>@=D32B63 7BGKA@3?C3AB *( #((((( $# )"#$ x=::=E7<5/@3?C3AB4=@>@=>=A/:A'%AB/44@31=;;3<2AB=3F31CB32/< 5@33;3<B4=@=<B@/1B(3@D713A5@33;3<BE7B6)-!7< <B3@</B7=</: )-! B=>@=D7231=<AB@C1B7=<;/</53;3<B/<27<A>31B7=<A3@D713A" A3@D713A4=@B63%@=831B7<B63/;=C<B=4 BB/16;3<B x)63%@=831B7<1:C23A 9=<AB@C1B7=<=4/</::E3/B63@0@7253E7B6BG>71/:A31B7=<7<1:C27<5 ¾/4BA723E/:9=<0=B6A723A=4B630@7253 ¾BE= 4B0793 1/@B>/B6ABE= 4B=CBA723:/<3A ¾BE= 4B7<A723:/<3A ¾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x'3;=D/: 3;=:7B7=<=4BE=;=07:36=;3A/<2/A7<5:34/;7:G6=;3 x)E=;/7<A3E3@;/7<@3:=1/B7=<AB=/D=721=<4:71BE7B6B63<=@B63@< /0CB;3<B x,/B3@;/7<@3:=1/B7=<4@=;C>AB@3/;B=2=E<AB@3/;=4B630@7253E7B67< B6316/<<3:/@3/03:=EB63A:=>3>@=B31B7=<1CB=44E/:: x(>31B@C;@3:=1/B7=<A<=@B6=4B6316/<<3:7<B=B63<3E>/@9E/G x"7<=@@=<B73@@31=<AB@C1B7=<=4/<C<23@5@=C<21=<2C7BAGAB3;A=CB6=4 B6316/<<3: x:31B@71/: 27AB@70CB7=< C<23@5@=C<27<5 4=@ B63 4C:: :3<5B6 =4 B63 >@=831BC<23@/@3:=1/B7=</5@33;3<B x <B3@7; 3:31B@71/: 27AB@70CB7=< :7<3 A6== 4:G 4=@ B63 7<7B7/: 0@7253 1=<AB@C1B7=<>6/A3 x=<AB@C1B7=<=4/;C:B7CA3B@/7:+ !7<9C<23@>/AA=4B630@7253/:=<5 E7B6BE=A31=<2/@G1=<<31B3@B@/7:A4@=;+ !7<9B=C<3%/:;A'=/2 /<2 x=<AB@C1B7=</<2@3;=D/:=4/0G>/AA@=/2 =<B7<53<BC>=</>>@=D/:B=/2D3@B7A3B63>@=831B4=@072=<30@C/@G B634=::=E7<57AB63>@=831BA1632C:3 =C<17:72CB6=@7H/B7=< 30@C/@G 72%3@7=2"/@16 B=>@7: =C<17:=<A723@A%@=831BE/@2 >@7: F31CB3=<B@/1B/<2"=07:7H3 >@7:B="/G =<AB@C1B7=< ,=@97<5/GA "/G B= C<3 113>B ;>@=D3;3<BA C:G (B/442=3A<=B@31=;;3<2/</:B3@</B7D3 %@3>/@320G C:73"75<=5</"/</53;3<B</:GAB >>@=D320G @G/<"1 7<<3G%C0:71,=@9A7@31B=@ 7BG<57<33@ BB/16;3<BA %@=831B+717<7BG"/> 5@33;3<BE7B6)-!7< <B3@</B7=</: