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ƚŚĞĐƌŝƚĞƌŝĂĨŽƌďĞŝŶŐĂŚŝƐƚŽƌŝĐďƵŝůĚŝŶŐ͕ǁŚĞŶǁŽƵůĚƚŚĞĐŽŵŵŝƐƐŝŽŶĞǀĞƌĚĞŶǇĂĚĞŵŽůŝƚŝŽŶƉĞƌŵŝƚ͘͟,Ğ ĐŽŶƚŝŶƵĞĚƐƚĂƚŝŶŐďĂƐĞĚŽŶŝƚƐŚŝƐƚŽƌŝĐŶĂƚƵƌĞ͕ŝƚƐďĞĂƵƚǇĂŶĚŵĞĂŶŝŶŐƚŽZŽĐŚĞƐƚĞƌ͕ŝƚƐŚŽƵůĚƌĞŵĂŝŶ͘ ƚŚ DƐ͘EĂŶĐǇ^ůŽĐƵŵď͕;ƌĞƐŝĚŝŶŐĂƚϲϮϭϱǀĞ͘^t͕ZŽĐŚĞƐƚĞƌ͕DEͿĂĚĚƌĞƐƐĞĚƚŚĞŽŵŵŝƐƐŝŽŶ͘ DƐ͘^ůŽĐƵŵďƐƚĂƚĞĚƚŚĂƚǁŝƚŚƚŚĞŚĞůƉŽĨĂůŽƚŽĨĨƌŝĞŶĚƐƐŚĞŐĂƚŚĞƌĞĚƚŚĞŝŶĨŽƌŵĂƚŝŽŶƚŚĂƚǁĂƐƐĞŶƚƚŽ ƚŚĞ,WƚŽĚĂǇ͘^ŚĞƐƚĂƚĞĚƚŚĞĂĚĚĞŶĚƵŵǁŝƚŚŚĞƌĚŽĐƵŵĞŶƚǁĂƐĂĚĚĞĚƐŽƚŚĂƚƐŚĞĐŽƵůĚǁƌŝƚĞĂŶĚ ƉƌŽǀŝĚĞƚŚĞŝŶĨŽƌŵĂƚŝŽŶŝŶƚŚĞƐĂŵĞŵĂŶŽƌƚŚĞƐƚĂĨĨŚĂĚĚŽŶĞ͘ DƐ͘^ůŽĐŽŵďŐĂǀĞĂďƌŝĞĨŚŝƐƚŽƌǇŽĨŚĞƌƌĞƐĞĂƌĐŚŵĞƚŚŽĚƐĂŶĚĂŚŝƐƚŽƌǇŽĨƚŚĞďƵŝůĚŝŶŐŽǁŶĞƌƐŚŝƉ͕ ĨŽƌŵĞƌƵƐĞƐ͕ĂŶĚƌĞƐŝĚĞŶƚƐŽĨƚŚĞƉƌŽƉĞƌƚǇĂŶĚƚŚĞďƵŝůĚŝŶŐ͘^ŚĞƐƚĂƚĞĚƚŚĂƚƚŚĞƐƚƌĞĞƚƚŚĂƚŝƚǁĂƐŽŶ ŚĂĚĂůŽƚŽĨŚŝƐƚŽƌǇĂŶĚĞĂƌůŝĞƌŝŶŝƚƐŚŝƐƚŽƌǇǁĂƐĂƉƌĞŵŝĞƌƉůĂĐĞƚŽůŝǀĞ͘^ŚĞĨĞĞůƐƚŚĂƚƚŚĞƌĞĐĂŶďĞ ĨƵƚƵƌĞƵƐĞƐĨŽƌƚŚĞƉƌŽƉĞƌƚǇ͘ Dƌ͘sŽƐƐĐŽŵŵĞŶĚĞĚDƐ͘^ůŽĐƵŵďŽŶŚĞƌŝŶĨŽƌŵĂƚŝŽŶĂŶĚĂƐŬĞĚĨŽƌĂĚĚŝƚŝŽŶĂůŝŶĨŽƌŵĂƚŝŽŶƌĞŐĂƌĚŝŶŐ ŚĞƌƌĞƐĞĂƌĐŚƐŽƵƌĐĞƐ͘ DƐ͘^ůŽĐƵŵďƐƚĂƚĞĚƚŚĂƚƐŚĞŐŝǀĞƐĐƌĞĚŝƚƚŽƚŚĞƐƚĂĨĨĂƚƚŚĞŚŝƐƚŽƌǇĐĞŶƚĞƌĨŽƌŚĞůƉŝŶŐŚĞƌĐŽŵƉŝůĞŚĞƌ ŝŶĨŽƌŵĂƚŝŽŶĂŶĚĞǆƉůĂŝŶĞĚŚĞƌƉƌŽĐĞƐƐŝŶƌĞƐĞĂƌĐŚŝŶŐĂĚĚŝƚŝŽŶĂůƉƌŽƉĞƌƚǇĚĞƚĂŝůƐĂŶĚŐĂǀĞƚŚĞŵŚĞƌ ƚŚĂŶŬƐ͘ 3DFNHW3J (H 3DJH &LW\+HULWDJH3UHVHUYDWLRQ&RPPLVVLRQ 0DUFK DƐ͘^ůŽĐƵŵďƐƚĂƚĞĚƚŚĂƚƐŚĞĂůƐŽůŽŽŬĞĚŝŶƚŽƌĞĨĞƌĞŶĐĞŵĂƚĞ ƌŝĂůƐĂƚƚŚĞƌĞĐŽƌĚĞƌ͛ƐŽĨĨŝĐĞĂŶĚ $WWDFKPHQW+3&0LQXWHV +HULWDJH3UHVHUYDWLRQ&RPPLVVLRQ"5HYLHZRIWKH'HPROLWLRQ3HUPLWVIRU0HOLVVD"VRQQG ĂĐŬŶŽǁůĞĚŐĞĚƚŚĂƚƐŚĞĚŝĚŶŽƚƐƉĞĂŬƚŽƚŚĞĐƵƌƌĞŶƚŽǁŶĞƌƐĂŶĚŚĞƌŝŶĨŽƌŵĂƚŝŽŶŝƐůĂĐŬŝŶŐĐƵƌƌĞŶƚĚĂƚĂ͘ Dƌ͘ůůŵĂŶĐŽŵŵĞŶĚĞĚDƐ͘^ůŽĐƵŵďĂŶĚDƌ͘dŝŵ^ĐŚŵŝƚƚĂƚƚŚĞ,ŝƐƚŽƌǇĞŶƚĞƌĨŽƌƚŚĞǁŽƌŬƚŚĂƚƚŚĞǇ ĚŝĚŽŶƚŚŝƐĞĨĨŽƌƚĂŶĚƚŚĞŝŶǀĞƐƚŝŐĂƚŝŽŶĨŽƌƚŚĞŚĂƌĚŽŶŶĂǇĂŶĚƚŚĂƚŽĨƚŚĞŚŝƐƚŽƌǇŽĨ:͛ƐƚŚĂƚƐŚĞ ƉƌĞǀŝŽƵƐůǇƉƌĞƐĞŶƚĞĚĂƚŝƚǇŽƵŶĐŝů͘ DƐ͘^ůŽĐƵŵďƐƚĂƚĞĚƚŚĂƚƚŚĞĞĨĨŽƌƚĚŝĚƚĂŬĞĂůŽƚŽĨǁŽƌŬĂŶĚŝƐƚŝŵĞĐŽŶƐƵŵŝŶŐĂŶĚƌĞĐŽŵŵĞŶĚĞĚƚŚĂƚ ƚŚĞŽŵŵŝƐƐŝŽŶĨŝŶĚĂǁĂǇƚŽŚŝƌĞĂĐŽŶƐƵůƚĂŶƚƐŽƚŚĂƚƚŚĞŽŵŵŝƐƐŝŽŶŝƐŶŽƚƌĞĂĐƚŝŶŐŝŶĨƵƚƵƌĞ ƐŝƚƵĂƚŝŽŶƐ͘^ŚĞƐƚĂƚĞĚĂǀŽůƵŶƚĞĞƌĞĨĨŽƌƚƚŽĨŝŶĚƚŚŝƐĚĂƚĂŽƵƚĐĂŶŶŽƚĐŽŶƚŝŶƵĞ͘ DƐ͘dŚĞƌĞƐĂDĐŽƌŵĂĐŬ͕;ƌĐŚŝƚĞĐƚĂƚdŚĞhƌďĂŶ^ƚƵĚŝŽ͕ϯϭϴ^͘ƌŽĂĚǁĂǇ͕ZŽĐŚĞƐƚĞƌ͕DEͿĂĚĚƌĞƐƐĞĚ ƚŚĞŽŵŵŝƐƐŝŽŶ͘ 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ŚŽŵĞ͕ďƵƚĨĞĂƌƐƚŚĂƚŝƚŵĂǇďĞĐŽŵĞŶĞĐĞƐƐĂƌǇĨŽƌƚŚŝƐŚŽƵ ƐĞƚŽŵŽǀĞ͘,ĞƋƵĞƐƚŝŽŶĞĚ͕͞d/&ĨŝŶĂŶĐŝŶŐ ĐŽƵůĚďĞƐĞƚĂƐŝĚĞĂƐĂŶŝŶĐĞŶƚŝǀĞƉĂĐŬĂŐĞƐĨŽƌĐŽŵŵĞƌĐŝĂůďƵŝůĚŝŶŐƐƐŽƚŚĞǇĐĂŶŬĞĞƉĂƉŽƐŝƚŝǀĞĐĂƐŚ ĨůŽǁ͘͟ Dƌ͘<ŶŽƚƚƌĞƐƉŽŶĚĞĚƚŚĂƚd/&ŝƐŶŽƚƐĞƚƵƉĨŽƌƚŚĞƉƌŽĐĞƐƐƚŚĂƚDƌ͘<ƌƵĞƐĞůǁĂƐƐƉĞĂŬŝŶŐƚŽĂƐŝƚŝƐŶ͛ƚĂ ƉŽŽůŽĨŵŽŶĞǇƚŚĂƚĐĂŶďĞƐĞƚĂƐŝĚĞĨŽƌŽƚŚĞƌƚŚŝŶŐƐ͘,ĞĞǆƉůĂŝŶĞĚƚŚĞƌĞŵĂǇďĞŽƚŚĞƌƐŽƵƌĐĞƐ͕ďƵƚd/& ǁŽƵůĚŶ͛ƚďĞĞůŝŐŝďůĞĨŽƌƚŚŝƐƉƌŽũĞĐƚĂŶĚƚŚĞŝƐƐƵĞĐŽƵůĚďĞůŽŽŬĞĚĂƚĨƵƌƚŚĞƌ͘,ĞĨƵƌƚŚĞƌĞůĂďŽƌĂƚĞĚƚŚĞ ǁĂǇƐd/&ĐĂŶďĞĂƉƉůŝĞĚ͕ƐƚĂƚŝŶŐƚŚĂƚd/&ĨƵŶĚŝŶŐŶĞĞĚƐƚŽďĞƉƌŽũĞĐƚƐƉĞĐŝĨŝĐĂŶĚĂĚŵŝŶŝƐƚĞƌĞĚƵŶĚĞƌ ƐƚĂƚĞƐƚĂƚƵƚĞƐ͘ Dƌ͘<ƌƵĞƐĞůƐƚĂƚĞĚƚŚĂƚŝĨƚŚĞďƵŝůĚŝŶŐĐĂŶŶŽƚƐƚĂǇĂƚŝƚƐĐƵƌƌĞŶƚƐŝƚĞƚŚĞŶƚŚĞƌĞĂƌĞƉĂƌƚŝĞƐĐƵƌƌĞŶƚůǇ ůŽŽŬŝŶŐĂƚŵŽǀŝŶŐŝƚ͘,ĞĐŽŶĐůƵĚĞĚƐĂǇŝŶŐĚĞŵŽůŝƚŝŽŶŽĨƚŚŝƐďƵŝůĚŝŶŐŝƐƵŶĂĐĐĞƉƚĂďůĞ͘ ƚŚ DƐ͘͘ŚƌŝƐƚŝŶĞ^ĐŚƵůƚǌĞ͕;ƌĐŚŝƚĞĐƚDd>ŝĐ͕͘ƌĞƐŝĚŝŶŐĂƚϳϯϬϱ^ƚ͘^t͕ZŽĐŚĞƐƚĞƌ͕DEͿĂĚĚƌĞƐƐĞĚƚŚĞ ŽŵŵŝƐƐŝŽŶ͘ 3DFNHW3J (H 3DJH &LW\+HULWDJH3UHVHUYDWLRQ&RPPLVVLRQ 0DUFK DƐ͘^ĐŚƵůƚǌĞƐƚĂƚĞĚƚŚĂƚƐŚĞǁŽƵůĚůŝŬĞƚŽƌĞĨĞƌĞŶĐĞDƌ͘^ŬŽůŶŝĐŬ͛ƐƋƵĞƐƚŝŽŶƚŽƚŚĞŽŵŵŝƐƐŝŽŶĂƐŬŝŶŐ͕ $WWDFKPHQW+3&0LQXWHV 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DƐ͘ůůŵĂŶƐƚĂƚĞĚƚŚĂƚŝƚŝƐĂĐŽƌĞŝƐƐƵĞĂƐŬŝŶŐǁŚŽƐĞďƵŝůĚŝŶŐŝƚŝƐĂŶĚƚŚĂƚƚŚĞŽŵŵŝƐƐŝŽŶǁŝůůĐŽŵĞƵƉ ĂŐĂŝŶƐƚƚŚŝƐƋƵĞƐƚŝŽŶĞǀĞƌǇƚŝŵĞ͘ Dƌ͘ũĞƌŬĂĂƐƐƚĂƚĞĚƚŚĂƚŚĞĐŽŶĐƵƌƐǁŝƚŚDƐ͘'ƵŝŵĂƌĂĞƐĂŶĚƚŚĞƌĞƐƉŽŶƐŝďŝůŝƚǇĨŽƌĨŝŶĂŶĐŝŶŐŝƐŽŶƚŚĞ ŽǁŶĞƌ͕ďƵƚƚŚĂƚ,WĐĂŶĂƐƐŝƐƚŝŶƚŚĂƚƉƌŽĐĞƐƐ͘,ĞƐƚĂƚĞĚƚŚĞĐŝƚǇƐŚŽƵůĚďĞĂďůĞƚŽĂƐƐŝƐƚŝŶƐŽŵĞ ŝŶǀĞƐƚŵĞŶƚĚƵĞƚŽƚŚĞDŝŶĐĞŶƚŝǀĞƐ͘ Dƌ͘ĚŬŝŶƐƐƚĂƚĞĚŝĨĂƉƌŽũĞĐƚĨŝŶĚƐŝƚƐǁĂǇŝŶƚŽƚŚĞDƉůĂŶƐ͕ƚŚĞŶŝƚǁŽƵůĚďĞĞůŝŐŝďůĞĨŽƌƚŚĞD ŝŶĐĞŶƚŝǀĞƐďƵƚůĞĂƌŶĞĚƚŚĂƚŵŽƌŶŝŶŐƚŚĂƚƚŚĞDƉůĂŶƐǁŽƵůĚŶŽƚďĞĂǀĂŝůĂďůĞƵŶƚŝůϮϬϭϱ͘ Dƌ͘sŽƐƐƋƵĞƐƚŝŽŶĞĚƚŚĞůŽŐŝĐŽĨĚĞůĂǇŝŶŐƚŚĞĚĞĐŝƐŝŽŶĂŶĚƐƚĂƚĞĚŶŽŽŶĞŚĂƐĂƌŐƵĞĚƚŚĞŚŝƐƚŽƌŝĐĂů ƐŝŐŶŝĨŝĐĂŶĐĞŽĨƚŚŝƐƐŝƚĞĂŶĚƚŚŝƐŝƐĂŶŽƉƉŽƌƚƵŶŝƚǇƚŽƐĞĞŝĨƚŚĞŽŵŵŝƐƐŝŽŶŝƐŐŽŝŶŐƚŽůŝǀĞƵƉƚŽŝƚƐ ŵŝƐƐŝŽŶ͘ Dƌ͘KůƐŽŶĂŶĚDƌ͘ůůŵĂŶǀŽƚĞĚŝŶĨĂǀŽƌŽĨƚŚĞŵŽƚŝŽŶ͘ Dƌ͘ũĞƌŬĂĂƐ͕Dƌ͘ĞŶŝŬĞ͕Dƌ͘sŽƐƐ͕Dƌ͘'ŝĞƐĞŶ͕ĂŶĚDƐ͘'ƵŝŵĂƌĂĞƐǀŽƚĞĚĂŐĂŝŶƐƚƚŚĞŵŽƚŝŽŶ͘ Dƌ͘WĞĚĞƌƐŽŶĂďƐƚĂŝŶĞĚ͘dŚĞŵŽƚŝŽŶĨĂŝůĞĚ͘ Dƌ͘'ŝĞƐĞŶŵĂĚĞĂŵŽƚŝŽŶƚŚĂƚďĂƐĞĚŽŶƚŚĞĐŚĂƌŐĞŽĨ,ĞƌŝƚĂŐĞWƌĞƐĞƌǀĂƚŝŽŶKƌĚŝŶĂŶĐĞĐƌŝƚĞƌŝĂ͕ďĂƐĞĚ ŽŶƚŚĞŝŶĨŽƌŵĂƚŝŽŶŝŶƚŚĞƉĂĐŬĞƚ͕ƚŚĞϯĐƌŝƚĞƌŝĂŐŝǀĞŶŝŶƚŚĞŵĞŵŽ͕ƚŚŝƐƐŝƚĞƉŽƚĞŶƚŝĂůůǇďĞŝŶŐĂ,ĞƌŝƚĂŐĞ 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ůƚĞƌŶĂƚŝǀĞŽŶĚŝƚŝŽŶƐĨŽƌĞŵŽůŝƚŝŽŶWĞƌŵŝƚĞĐŝƐŝŽŶƐ ;ĂƚƚĂĐŚŵĞŶƚͿ Dƌ͘,ĂƌĨŽƌĚƐƚĂƚĞĚƚŚĂƚĂĨƚĞƌƚŚĞůĂƐƚŵĞĞƚŝŶŐŝƚǁĂƐŚŝƐŝŶĐůŝŶĂƚŝŽŶƚŽĂƐƐŝƐƚŝŶƚŚĞĞǀĂůƵĂƚŝŽŶŽĨ ƉƌŽƉŽƐĂůƐƐŝŵŝůĂƌƚŽǁŚĂƚŝƐďƌŽƵŐŚƚƚŽƚŚĞWůĂŶŶŝŶŐŽŵŵŝƐƐŝŽŶ͘,ĞĨĞůƚƚŚĞ,WŶĞĞĚƐĐƌŝƚĞƌŝĂĂŶĚƚŚĞ ĐŽŶĚŝƚŝŽŶƐƉůĂĐĞĚŽŶŵŽƚŝŽŶƐĨŽƌĂĐƚŝŽŶƚŽďĞƚĂŬĞŶŵŽƌĞƐƉĞĐŝĨŝĐ͘ Dƌ͘,ĂƌĨŽƌĚƐƚĂƚĞĚƚŚĂƚƚŚĞĚŽĐƵŵĞŶƚŝƐĂƐƚĂƌƚŝŶŐƉŽŝŶƚĂŶĚƐŚŽƵůĚďĞĐŽŶƐŝĚĞƌĞĚŝŶĚƌĂĨƚĨŽƌŵĂƐƚŚĞ ,WůŽŽŬƐĂƚƚŚĞĐƌŝƚĞƌŝĂƚŽĐŽŶƐŝĚĞƌ͘,ĞĐŽŶƚŝŶƵĞĚ͕ƌĞĐŽƌĚŝŶŐƚŚĞĞǆŝƐƚĞŶĐĞŽĨƚŚĞďƵŝůĚŝŶŐĂŶĚƉƵƚƚŝŶŐ ƚŽŐĞƚŚĞƌĂƌĞĐŽƌĚŽĨƚŚĞďƵŝůĚŝŶŐƐĨŽƌƚŚĞ,ŝƐƚŽƌǇĞŶƚĞƌĨŝůĞƐŽƌƚŚĞ,WĨŝůĞƐ͕ǁŚŝĐŚĞǀĞƌŝƐĂƉƉƌŽƉƌŝĂƚĞ͕ ŝƐƐŽŵĞƚŚŝŶŐƚŽƵƐĞĨŽƌĨƵƚƵƌĞŐƵŝĚĂŶĐĞďǇƚŚĞ,W͘ Dƌ͘ůůŵĂŶƐƚĂƚĞĚƚŚĂƚŚĞǁĂƐŝŶĂŐƌĞĞŵĞŶƚǁŝƚŚƚŚĞƉƌĞŵŝƐĞ͘ ŝƐĐƵƐƐŝŽŶĞŶƐƵĞĚƌĞŐĂƌĚŝŶŐƚŚĞĚŽĐƵŵĞŶƚƐĂŶĚŚŽǁƚŚĞǇĐĂŶďĞƵƐĞĨƵůĨŽƌĨƵƚƵƌĞĚŝƐĐƵƐƐŝŽŶ͘ Dƌ͘ůůŵĂŶƌĞĐŽŵŵĞŶĚĞĚƚŚĂƚĂĚĚŝƚŝŽŶƐŽƌĂůƚĞƌĂƚŝŽŶƐƚŽƚŚĞĚƌĂĨƚĐĂŶďĞĞŵĂŝůĞĚƚŽDƌ͘,ĂƌĨŽƌĚŽƌƚŽ ĂƐƵďĐŽŵŵŝƚƚĞĞůŽŽŬŝŶŐĂƚĐƌŝƚĞƌŝĂ͘ ŝƐĐƵƐƐŝŽŶĞŶƐƵĞĚƌĞŐĂƌĚŝŶŐǁŽƌŬƚŚĂƚĐŽƵůĚďĞĚŽŶĞĂƚĂƐƵďĐŽŵŵŝƚƚĞĞůĞǀĞů͘ Dƌ͘,ĂƌĨŽƌĚƐƚĂƚĞĚŽ ŶĐĞƚŚĞĚŽĐƵŵĞŶƚŝƐƌĞĨŝŶĞĚŝƚǁŝůůďĞƌĞǀŝĞǁĞĚďǇƚŚĞŝƚǇƚƚŽƌŶĞǇ͛ƐŽĨĨŝĐĞƚŽŵĂŬĞ ƐƵƌĞƚŚĂƚƚŚĞŽŵŵŝƐƐŝŽŶŝƐŶŽƚŽǀĞƌƌĞĂĐŚŝŶŐŽƌĂƚĐƌŽƐƐƉƵƌƉŽƐĞƐǁŝƚŚƚŚĞĞǆŝƐƚŝŶŐŽƌĚŝŶĂŶĐĞŽƌƐƚĂƚĞ ůĂǁ͘ Dƌ͘ůůŵĂŶĞŶĚĞĚƚŚĞĚŝƐĐƵƐƐŝŽŶ͘ ŽƵŶĐŝůZĞƐŽůƵƚŝŽŶϬϳϳͲϭϰͲƵƉĚĂƚĞƌĞŐĂƌĚŝŶŐ,ĞƌŝƚĂŐĞWƌĞƐĞƌǀĂƚŝŽŶƐŝƚĞƐ Dƌ͘EĞƵŵĂŶŶƐƚĂƚĞĚƚŚĂƚƚŚĞƌĞǁĂƐĂŐƌŽƵƉǁĂƐŵĞĞƚŝŶŐǁŝƚŚDƌ͘,ĂƌĨŽƌĚƚŽĚĂǇƌĞŐĂƌĚŝŶŐƚŚĞŝƌĂďŝůŝƚǇ ƚŽĐŽŶƐƵůƚǁŝƚŚƚŚĞ,WĂŶĚƉůĂŶŶŝŶŐƐƚĂĨĨ͘ Dƌ͘ůůŵĂŶƐƚĂƚĞĚƚŚĂƚŝƚǁŽƵůĚďĞŐŽŽĚƚŽŚŝƌĞƚŚĞŵƐŽŽŶĞƌƚŚĂŶůĂƚĞƌ͘ Dƌ͘EĞƵŵĂŶŶƐƚĂƚĞĚƚŚĂƚƚŚĞŵĞĞƚŝŶŐƚŽĚĂǇǁĂƐƚŽŐĞƚĂŶƐǁĞƌƐƚŽƚŚĞƋƵĞƐƚŝŽŶƐĂƐŬĞĚ͗,ŽǁĚŽǁĞŐĞƚ ĂůŝƐƚĂŶĚŵŽǀĞƚŚĂƚĨŽƌǁĂƌĚ͕ǁŚĂƚƚŚĞƉƌŽĐĞƐƐĨŽƌĚŽŝŶŐƚŚĂƚŝƐ͕ĂŶĚǁŚĂƚĂƌĞƚŚĞƉŽůŝĐǇĚĞƚĞƌŵŝŶĂƚŝŽŶƐ ƚŽĚŽƐŽ͘,ĞĐŽŶƚŝŶƵĞĚƚŚĂƚƚŚĞĐŽŶƐƵůƚĂŶƚǁŝůůŶĞĞĚƚŽƌĞǀŝĞǁǁŚĂƚƚŚĞĞǆŝƐƚŝŶŐĚŽĐƵŵĞŶƚĂƚŝŽŶŝƐ ďĞĨŽƌĞƚŚĞǇĐĂŶŵĂŬĞĂƉƌŽƉŽƐĂůƌĞŐĂƌĚŝŶŐƚŚĞŝƌƐĞƌǀŝĐĞƐ͘ Dƌ͘,ĂƌĨŽƌĚƐƉŽŬĞƌĞŐĂƌĚŝŶŐƚŚĞŵĞĞƚŝŶŐǁŝƚŚƚŚĞĐŽŶƐƵůƚĂŶƚĂŶĚǁŚĂƚŝŶĨŽƌŵĂƚŝŽŶǁĂƐƉƌŽǀŝĚĞĚƚŽ ƚŚĞŵĂŶĚĂůƐŽƐƉŽŬĞĂďŽƵƚƐĞƚƚŝŶŐƐŚŽƌƚƚĞƌŵ͕ŵŝĚƚĞƌŵĂŶĚůŽŶŐƚĞƌŵŐŽĂůƐĨŽƌƚŚĞƉƌŽĐĞƐƐ͘ 3DFNHW3J (H 3DJHŝůůŐŽƚŚĞĨŝƌƐƚWůĂŶŶŝŶŐĂŶĚŽŶŝŶŐŽŵŵŝƐƐŝŽŶŵĞĞƚŝŶŐŝŶƉƌŝů͘ Dƌ͘'ŝĞƐĞŶĂƐŬĞĚDƌ͘,ĂƌĨŽƌĚǁŚĂƚĂŶ/ŶĐĞŶƚŝǀĞĞǀĞůŽƉŵĞŶƚƉƌŽƉŽƐĂůŵĞĂŶƐ͘ Dƌ͘,ĂƌĨŽƌĚƐƚĂƚĞĚƚŚĂƚƚŚĞŝŶĐƌĞĂƐĞĚĚĞŶƐŝƚǇŝƐŶŽƚƋƵĂůŝĨŝĞĚĨŽƌĂŶŽǀĞƌƚŚĞĐŽƵŶƚĞƌĂƉƉƌŽǀĂůĂŶĚƚŚĂƚ ŝŶƚŚŝƐƉƌŽƉŽƐĂů͕ƚŚĞƐŝǌĞĂŶĚĚĞŶƐŝƚǇĞǆĐĞĞĚƚŚĞǌŽŶŝŶŐƌĞƋƵŝƌĞŵĞŶƚƐ͘,ĞĨƵƌƚŚĞƌĞǆƉůĂŝŶĞĚƚŚĞ ŝŵƉƌŽǀĞŵĞŶƚƐƚŽƚŚĞƉƌŽƉĞƌƚŝĞƐƚŚĂƚĂƌĞŽĨĂƉƵďůŝĐŶĂƚƵƌĞƚŚĂƚĐĂŶďĞƉƌŽƉŽƐĞĚĂŶĚƚŚĂƚƚŚĞWůĂŶŶŝŶŐ ĂŶĚŽŶŝŶŐŽŵŵŝƐƐŝŽŶĐĂŶŵĂŬĞĂŵĞŶĚŵĞŶƚƐƚŽŝƚŶŽƚŝŶŐƚŚĂƚƚŚĞƉƌŽũĞĐƚŚĂƐďĞĞŶƉƌĞƐĞŶƚĞĚĂƚ h͘ 3DFNHW3J (H 3DJH &LW\+HULWDJH3UHVHUYDWLRQ&RPPLVVLRQ 0DUFK Dƌ͘,ĂƌĨŽƌĚƐƚĂƚĞĚƚŚĞƌĞŝƐĂƋƵĞƐƚŝŽŶĂƐƚŽŚŽǁŝƚǁŽƵůĚďĞĂƉƉƌŽǀĞĚ͕ŵĞĂŶŝŶŐƚŚĂƚŝĨƚŚĞĂŵĞŶĚŵĞŶƚƐ $WWDFKPHQW+3&0LQXWHV +HULWDJH3UHVHUYDWLRQ&RPPLVVLRQ"5HYLHZRIWKH'HPROLWLRQ3HUPLWVIRU0HOLVVD"VRQQG ĂƌĞƐŽŐƌĞĂƚƉƌŽƉŽƐĞĚďǇƐƚĂĨĨŽƌƚŚĞWůĂŶŶŝŶŐĂŶĚŽŶŝŶŐŽŵŵŝƐƐŝŽŶƚŚĂƚŝĨŝƚĚŽĞƐŶŽƚŵĂŬĞĨŝŶĂŶĐŝĂů ƐĞŶƐĞƚŽƚŚĞĚĞǀĞůŽƉĞƌ͕ƚŚĞŶƚŚĞĂƉƉůŝĐĂƚŝŽŶĐŽƵůĚďĞƉƵůůĞĚďĂĐŬ͘ Dƌ͘sŽƐƐĂƐŬĞĚŝĨƚŚĞƌĞǁĂƐƚŝŵĞĨŽƌƚŚĞĐŽŶƐƵůƚĂŶƚƚŽǁŽƌŬŽŶƚŚŝƐƉƌŽƉŽƐĂů͘ Dƌ͘ĞŶŝŬĞƐƚĂƚĞĚƚŚĂƚŝƚǁĂƐŚŝƐŝŵƉƌĞƐƐŝŽŶƚŚĂƚƚŚĞŝƚǇŽƵŶĐŝůǁĂƐĞŶƚŚƵƐŝĂƐƚŝĐĂďŽƵƚƚŚĞ,WŐĞƚƚŝŶŐ ǁŽƌŬĚŽŶĞ͘ KƉĞŶ&ŽƌƵŵ Dƌ͘<ĞǀŝŶ>ƵŶĚ;ƌĞƐŝĚŝŶŐĂƚϱϭϭϭϱƚŚǀĞ͘^tZŽĐŚĞƐƚĞƌ͕DEͿĂĚĚƌĞƐƐĞĚƚŚĞŽŵŵŝƐƐŝŽŶ͘ Dƌ͘>ƵŶĚƐƚĂƚĞĚŚĞŚĂƐƐŽŵĞŽďƐĞƌǀĂƚŝŽŶƐĂďŽƵƚƚŚĞŵĞĞƚŝŶŐ͘,ĞƐƚĂƚĞĚƚŚĞƌĞŝƐŶŽŵĞĂƐƵƌĞŽĨƐĂŶŝƚǇ ŝŶƌĞŐĂƌĚƚŽĚĞǀĞůŽƉŵĞŶƚĂŶĚƚŚĂƚĞǀĞƌǇƚŚŝŶŐŝƐďĞŝŶŐƉƌŽƉŽƐĞĚƵŶĚĞƌƚŚĞĂƵƐƉŝĐĞƐŽĨƚŚĞD ǁŝƚŚŽƵƚƚŚĞDďĞŝŶŐƉůĂŶŶĞĚ͘ Dƌ͘>ƵŶĚƐƚĂƚĞĚǁŚĂƚƚŚĞ,WŝƐŐŽŝŶŐƚŽƐĞĞŝƐĂŶŽďŶŽǆŝŽƵƐůǇƐĐĂůĞĚƉůĂŶƚŚĂƚǁŝůůďĞƉƵƚŝŶƚŽƉůĂĐĞůŝŬĞ ƚŚĞŽŶĞƚŚĂƚŽĐĐƵƉŝĞƐƚŚĞĨŽƌŵĞƌtŝůůŝĂŵƐŚŽƵƐĞƐŝƚĞ͘,ĞƌĞĐŽŵŵĞŶĚĞĚƚŽƚŚĞŽŵŵŝƐƐŝŽŶƚŽĚŽƚŚĞ ƌĞƐĞĂƌĐŚĂŶĚƚŚĞŚĞĂǀǇůŝĨƚŝŶŐĚĞƐƉŝƚĞƚŚĞƉƌŽƉŽƐĞĚƉƌŽĐĞƐƐŽĨǁŚĂƚŚĞƚŚŽƵŐŚƚǁĂƐƚƵƌŶŝŶŐƚŚĞŬĞǇƐƚŽ ƚŚĞĐŽŵŵƵŶŝƚǇŽǀĞƌƚŽĂĐŽŶƐƵůƚĂŶƚ͘ Dƌ͘>ƵŶĚƐƚĂƚĞĚŝƚǁĂƐŚĞĂƌƚĞŶŝŶŐƚŽŚŝŵƚŚĂƚŵŽƐƚŽĨƚŚĞ,WƵŶĚĞƌƐƚŽŽĚƚŚĞĨĂĐƚƐƉƌŝŽƌƚŽĚĞŶǇŝŶŐƚŚĞ ĞŵŽůŝƚŝŽŶWĞƌŵŝƚĂŶĚĐŽŶĐůƵĚĞĚŝĨǀŽůƵŶƚĞĞƌƐŚĂǀĞĚŽŶĞƚŚĞǁŽƌŬ͕ƚŚĞŶƚŚŝƐŽŶĞŽĨƚŚĞŵŽƐƚŝŵƉŽƌƚĂŶƚ ǁŽƌŬƚŚĂƚŝƐƚŽďĞĚŽŶĞŝŶƚŚĞĐŽŵŵƵŶŝƚǇ͘,ĞƐƚĂƚĞĚƚŚŝƐŚĞĨĞĂƌƐƚŚĂƚŚĂůĨŽĨĚŽǁŶƚŽǁŶǁŝůůďĞŐŽŶĞ ďĞĨŽƌĞƚŚĞ,WĐĂŶĞǀĞŶƚƵƌŶĂƌŽƵŶĚĂŶĚƚŚĂƚƚŚĞǁŽƌŬŶĞĞĚĞĚƚŽďĞĚŽŶĞŝƐŶŽƚƚŚĂƚĐŽŵƉůŝĐĂƚĞĚďƵƚ ŚĂƐƚŽďĞĚŽŶĞŽƵƚŽĨŽĨĨŝĐĞŚŽƵƌƐĂŶĚŚŽƉĞƐƚŚĂƚƚŚĞŐƌŽƵƉĐĂŶŐĞƚĂŚĞĂĚ͘ Dƌ͘^ŬŽůŶŝĐŬĂĚĚƌĞƐƐĞĚƚŚĞŽŵŵŝƐƐŝŽŶ͕ŚĞƐƚĂƚĞĚĨƌŽŵƚŚĞďĞŐŝŶŶŝŶŐŽĨƚŚĞ,WŵĞĞƚŝŶŐƐ͕ŚĞ 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