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Dƌ͘^ŬŽůŶŝĐŬ ŽĨďƵŝůĚŝŶŐƐŝŶZŽĐŚĞƐƚĞƌĚƵĞƚŽƚŚĞĨĞĞůĂŶĚƚŚĞĂŵďŝĂŶĐĞ͘^ŽŵĞŝŶƚŚŝƐƚŽǁŶƚŚŝŶŬĚŽǁŶǁŝƚŚ ƚŚĞŽůĚ͕ŝŶǁŝƚŚƚŚĞŶĞǁ͘Dƌ͘^ŬŽůŶŝĐŬƐƵŐŐĞƐƚĞĚƚŚĂƚŵĂǇďĞƚŚĞƌĞǁĂƐƐŽŵĞŚŝƐƚŽƌŝĐĂůƚŚĂƚ ŚĂƉƉĞŶĞĚƚŚĞƌĞ͘ 3DFNHW3J )E 3DJH &LW\+HULWDJH3UHVHUYDWLRQ&RPPLVVLRQ )HEUXDU\ Dƌ͘^ŬŽůŶŝĐŬƐƚĂƚĞĚƚŚĂƚƚŚĞďƵŝůĚŝŶŐƐĂƌĞƚŚĞŶŝĐĞƐƚƉĂƌƚŽĨŚŝƐƚŽƌŝĐĂůZŽĐŚĞƐƚĞƌĂŶĚǁĂƐŚŽƉŝŶŐ ƚŚĞǇĐŽƵůĚďĞŵŽǀĞĚƚŽĂŶŽƚŚĞƌƐŝƚĞŽƌǁŝƐŚĞĚƚŚĂƚƚŚĞĨĂĕĂĚĞƐǁĞƌĞŬĞƉƚƚŽďĞƉƵƚŝŶƚŽƚŚĞ $WWDFKPHQW+3&PLQXWHV +HULWDJH3UHVHUYDWLRQ2UGLQDQFH'HPROLWLRQ3HUPLWDW6%URDGZD\ ŶĞǁďƵŝůĚŝŶŐ͘ Dƌ͘^ŬŽůŶŝĐŬƐƚĂƚĞĚƚŚĂƚŚĞƚŚŝŶŬƐƚŚĞǇĂƌĞŐŽƌŐĞŽƵƐĂŶĚŚĂĚƌĞĂĚƚŚĞƌĞƉŽƌƚƚŚĂƚƐƚĂƚĞĚƚŚĂƚ ŽůĚĐŽŶƐƚƌƵĐƚŝŽŶǁŽƵůĚƐƚĂŶĚƵƉƚŽƚŚĞŶĞǁƐƚĂŶĚĂƌĚƐĂŶĚŚŽƉĞƐƚŚĞƌĞŝƐƐŽŵĞƚŚŝŶŐƚŚĂƚĐĂŶ ďĞĚŽŶĞƚŽƐĂǀĞƚŚĞŵ͘,ĞĐŽŶĐůƵĚĞĚŚŝƐƐƚĂƚĞŵĞŶƚďǇƐĂǇŝŶŐƚŚĞďƵŝůĚŝŶŐĂƌĞǁŽƌƚŚŵĂŝŶƚĂŝŶŝŶŐ ŝŶƐŽŵĞĨŽƌŵ͘ ƌĚ Dƌ͘<ƌƵĞƐĞů;ƌĞƐŝĚŝŶŐĂƚ ϮϮϯ^ƚ͘^t͕ZŽĐŚĞƐƚĞƌ͕DEϱϱϵϬϮͿĂĚĚƌĞƐƐĞĚƚŚĞŽŵŵŝƐƐŝŽŶ͘ ƐƚĂƚĞĚƚŚĂƚƚŚĞ,ŝƐƚŽƌǇĞŶƚĞƌŶĞĞĚƐƚŽďĞƉĂŝĚƚŽĚŽƚŚĞƌĞƐĞĂƌĐŚƚŚĂƚŝƐŶĞĐĞƐƐĂƌǇ͘ Dƌ͘<ƌƵĞƐĞů Dƌ͘<ƌƵĞƐĞůƐƚĂƚĞĚŝŶƌĞƐĞĂƌĐŚŝŶŐƚŚĞƐĞďƵŝůĚŝŶŐƐ͕ƚŚĞĨŽůůŽǁŝŶŐŶĞĞĚƐƚŽďĞƚĂŬĞŶŝŶƚŽĂĐĐŽƵŶƚ͗ dŚĞŽǁŶĞƌ͕ƚŚĞŽǁŶĞƌ͛ƐŽďŝƚƵĂƌŝĞƐƚŽůŽŽŬŝŶƚŽǁŚŽƚŚĞǇĂƐƐŽĐŝĂƚĞĚǁŝƚŚ͕ĂŶĚĂĚĞƋƵĂƚĞƚŝŵĞƚŽ ĚŽƚŚĞũƵƐƚŝĐĞƚŽƚŚĞƌĞƐĞĂƌĐŚ͘ Dƌ͘<ƌƵĞƐĞůƐƚĂƚĞĚƚŚĂƚƚŚĞĂƌĞĂǁĂƐǀĞƌǇŝŵƉŽƌƚĂŶƚƚŽĞĂƌůǇZŽĐŚĞƐƚĞƌŝŶƚŚĂƚ^ĞĂƌƐ͕WĞŶŶǇ͛Ɛ͕ ĂŶĚĂZĞĐƌĞĂƚŝŽŶĂůŽǁůǁĂƐŽŶƚŚĞƐĞĐŽŶĚĨůŽŽƌ͕ĂŶĚŝƚǁĂƐĂƉůĂĐĞŽĨĞŶƚĞƌƚĂŝŶŵĞŶƚ͘ Dƌ͘<ƌƵĞƐĞůƐƚĂƚĞĚ͕͞dŽƐĂǇƚŚĞďƵŝůĚŝŶŐƐĚŽŶŽƚŚĂǀĞŚŝƐƚŽƌŝĐĂůƐŝŐŶŝĨŝĐĂŶƚ͕ƚŚĞƌĞŝƐŶŽƚĞŶŽƵŐŚ ƌĞƐĞĂƌĐŚĚŽŶĞƚŽƌĞǀĞĂůƚŚĂƚ͘͟ Dƌ͘<ƌƵĞƐĞůĐŽŶĐůƵĚĞĚƚŚĂƚŽŶĞĐĂŶůŽŽŬĂƚŝŶƐƵƌĂŶĐĞĐŽŵƉĂŶǇƌĞĐŽƌĚƐƚŽƐŚŽǁƚŚĞĚĞĨĞĐƚƐŽĨ ƚŚĞďƵŝůĚŝŶŐƐ͘ Dƌ͘ůůŵĂŶĐůŽƐĞĚƚŚĞƉƵďůŝĐŚĞĂƌŝŶŐ͘ Dƌ͘ũĞƌŬĂĂƐƉƌŽƉŽƐĞĚƚŽĂĚĚĂĐŽƵƉůĞŽĨĐŽŶƚŝŶŐĞŶĐŝĞƐ͗ ϭ͘ZĞƋƵĞƐƚĐŝƚǇĂĚŵŝŶŝƐƚƌĂƚŝŽŶƚŽĂƵƚŚŽƌŝǌĞŝŵƉůĞŵĞŶƚĂƚŝŽŶŽĨĂ,W^ĂĚŵŝŶŝƐƚĞƌĞĚ ƌĞǀŽůǀŝŶŐůŽĂŶͬŐƌĂŶƚƐŝŵŝůĂƌƚŽƚŚĞZĨĂĕĂĚĞŐƌĂŶƚƉƌŽŐƌĂŵǁŝƚŚĚĞƚĂŝůƐƚŽĨŽůůŽǁ͘ Ϯ͘ZĞƋƵĞƐƚƚŚĞŝƚǇƚƚŽƌŶĞǇĨŝŶĚĂǁĂǇǁŝƚŚŝŶƚŚĞd/&ƌĞĚĞǀĞůŽƉŵĞŶƚƐƚĂƚƵĞƚŽƌĞƐĞƌǀĞ ϱйŽĨd/&ĨŽƌϮϲǇĞĂƌƐƚŽƐƵƐƚĂŝŶĂďůǇĨƵŶĚƚŚĞ,WĨƵŶĚ͘ Dƌ͘ůůŵĂŶƐƚĂƚĞĚƚŚĂƚĂƌĞĐŽŵŵĞŶĚĂƚŝŽŶŶĞĞĚƐƚŽŽĐĐƵƌƌĞŐĂƌĚŝŶŐƚŚĞĚĞŵŽůŝƚŝŽŶƉĞƌŵŝƚĨŝƌƐƚ ďĞĨŽƌĞĂĚŝƐĐƵƐƐŝŽŶƌĞŐĂƌĚŝŶŐƌĞĂůůŽĐĂƚŝŶŐd/&ĐĂŶŽĐĐƵƌ͘ Dƌ͘ůůŵĂŶĂƐŬĞĚĨŽƌĂŵŽƚŝŽŶĂŶĚƐƚĂƚĞĚƚŚĞĨŽůůŽǁŝŶŐƌĞĐŽŵŵĞŶĚĂƚŝŽŶĨŽƌĐŽŶƚŝŶŐĞŶĐŝĞƐƚŽ ďĞĂĚĚĞĚƚŽƚŚĞŵŽƚŝŽŶ͘ Dƌ͘ůůŵĂŶƐƚĂƚĞĚŝĨǁĞƚĂŬĞĂďƵŝůĚŝŶŐŽƵƚŽĨŽƵƌŚŝƐƚŽƌŝĐŝŶǀĞŶƚŽƌǇƚŚĞƌĞƐŚŽƵůĚďĞĂǁĂǇƚŽ ƉƵƚƐŽŵĞƚŚŝŶŐďĂĐŬ͘,ĞĨƵƌƚŚĞƌƐƚĂƚĞĚ͕͞/ĨǁĞŚĂǀĞd/&ĨƵŶĚŝŶŐŝŶƚŽĂŶ,WĨƵŶĚƚŽƉƵƚŝƚŝŶĂ ŐƌĂŶƚŽƌϭ͘ƐƚĂďůŝƐŚĂƌĞǀŽůǀŝŶŐůŽĂŶĨƵŶĚƚŽŚĞůƉĂŝůŝŶŐďƵŝůĚŝŶŐƐ͘Ϯ͘&ƵŶĚƚŚĞĨƵŶĚ͟ 3DFNHW3J )E 3DJH &LW\+HULWDJH3UHVHUYDWLRQ&RPPLVVLRQ )HEUXDU\ Dƌ͘'ŝĞƐĞŶƐƚĂƚĞĚǁŚĂƚŚĞŬŶŽǁƐĂďŽƵƚd/&ŝƚŵŝŐŚƚďĞĚŝĨĨŝĐƵůƚŝƚǁŽƵůĚďĞůŝŵŝƚĞĚŝŶƚŚĞ ŐĞŽŐƌĂƉŚŝĐĂƌĞĂŝƚĐŽƵůĚďĞƵƐĞĚ͘ $WWDFKPHQW+3&PLQXWHV +HULWDJH3UHVHUYDWLRQ2UGLQDQFH'HPROLWLRQ3HUPLWDW6%URDGZD\ Dƌ͘^ƉĂĞƚŚĐŽŶĐƵƌƌĞĚǁŝƚŚDƌ͘'ŝĞƐĞŶĂŶĚƐƚĂƚĞĚƚŚĂƚd/&ĨƵŶĚŝŶŐŝƐĂǀĞƌǇĐŽŵƉůŝĐĂƚĞĚĂŶĚ ƚŝŵĞƐĞŶƐŝƚŝǀĞĂŶĚĞǆƉůĂŝŶĞĚƐŽŵĞŽĨƚŚĞĐŽŵƉůŝĐĂƚŝŽŶƐ͘ Dƌ͘'ŝĞƐĞŶƐƚĂƚĞĚƚŚĂƚƚŚĞƌĞŝƐϭϬйĨŽƌĂĚŵŝŶŝƐƚƌĂƚŝǀĞĐŽƐƚƐĂŶĚƚŚĞƐƚĂƚƵĞĂůůŽǁƐƵƐŝŶŐƚŚĞ ĂĚŵŝŶŝƐƚƌĂƚŝǀĞĐŽƐƚƐ͘ ŝƐĐƵƐƐŝŽŶĞŶƐƵĞĚƌĞŐĂƌĚŝŶŐĂĚŵŝŶŝƐƚƌĂƚŝǀĞĐŽƐƚĂŶĚƚŚĞƵƐĞŽĨƚŚĂƚĨƵŶĚŝŶŐ͘ Dƌ͘^ƉĂĞƚŚƐƚĂƚĞĚd/&ĐůĞĂŶƵƉďŝůůƚŚĂƚŝƐŐŽŝŶŐƚŚƌŽƵŐŚƚŚĞůĞŐŝƐůĂƚŝŽŶ͕ǁĞǁŝůůŬŶŽǁŵŽƌĞ ĂďŽƵƚĐŚĂŶŐĞƐŝŶƚŚĞĐŽŵŝŶŐŵŽŶƚŚƐ͘ Dƌ͘'ŝĞƐĞŶƐƚĂƚĞĚƚŚĂƚƚŚŝƐǁĂƐĂŐŽŽĚĂǀĞŶƵĞƚŽůŽŽŬŝŶƚŽ͘ 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ĞŵŽůŝƚŝŽŶWĞƌŵŝƚƐ Ͳ WƵďůŝĐŝŶƉƵƚůŝŵŝƚĞĚƚŽϮŵŝŶƵƚĞƐƉĞƌƐƉĞĂŬĞƌ 3DFNHW3J )E 3DJH &LW\+HULWDJH3UHVHUYDWLRQ&RPPLVVLRQ )HEUXDU\ ŶĚ DĞůŝƐƐĂ͛ƐŽŶϮ;ƚŚĞĨŽƌŵĞƌŚĂƌĚŽŶŶĂǇͿ Dƌ͘ůůŵĂŶƐƚĂƚĞĚƚŚĂƚƚŚŝƐŝƚĞŵǁŽƵůĚďĞĐŽŶƐŝĚĞƌƐĂƚƚŚĞŶĞǆƚŵĞĞƚŝŶŐ͘ $WWDFKPHQW+3&PLQXWHV +HULWDJH3UHVHUYDWLRQ2UGLQDQFH'HPROLWLRQ3HUPLWDW6%URDGZD\ ,ŝƐƚŽƌǇĞŶƚĞƌZĞƐŽƵƌĐĞƐŝŶƌĞůĂƚŝŽŶƚŽĞŵŽůŝƚŝŽŶWĞƌŵŝƚƐ Dƌ͘,ĂƌĨŽƌĚƐƚĂƚĞĚƚŚĂƚDƌ͘ůĂůĂǀĂŶŽƐŚŽǁĞĚǁŚĂƚƚŚĞǇŚĂǀĞĂƚƚŚĞ,ŝƐƚŽƌǇĞŶƚĞƌĂŶĚƚŚĂƚƐŝŶĐĞ ƚŚĞǇĂƌĞŶŽƚŽŶƐƚĂĨĨ͕ƉůĂŶŶŝŶŐƉĞƌƐŽŶŶĞůŚĂƐůŝŵŝƚĞĚĂĐĐĞƐƐ͘,ĞĞǆƉůĂŝŶĞĚĨƵƌƚŚĞƌƚŚĞƌĞŝƐƐŽŵĞ ĂƐƐŝƐƚĂŶĐĞďǇƚŚĞ,ŝƐƚŽƌǇĞŶƚĞƌƐƚĂĨĨďĞĐĂƵƐĞƚŚĞǇĂƌĞĨƵŶĚĞĚďǇƚŚĞĐŝƚǇďƵƚƚŚĂƚŝŶƌĞƐĞĂƌĐŚŝŶŐĞĂĐŚ ƉƌŽƉĞƌƚǇ͕ĂůŽƚŽĨƚŝŵĞƌĞƐĞĂƌĐŚŝŶŐ͘ Dƌ͘ůůŵĂŶƐƚĂƚĞĚƚŚĞƉƌŽĐĞƐƐƚŽĂƉƉůǇĨŽƌĂĚĞŵŽƉĞƌŵŝƚ͘ϲϬĚĂǇƐϭϮϬĚĂǇƐƚŽƌĞƐƉŽŶĚƚŽĂƉĞƌŵŝƚ͘ŶĚ ŝĨƚŚĞ,WĐŚŽŽƐĞ͕ŝƚĐŽƵůĚŚĂǀĞĂƐƉĞĐŝĂůŵĞĞƚŝŶŐďƵƚŽƵƌŵĞĞƚŝŶŐŚĂƐĂůůŽǁĞĚƚŚĞ,WƚŽƉƌŽĐĞĞĚŝŶĂ ƚŝŵĞůǇŵĂŶŶĞƌ͘ Dƌ͘ũĞƌŬĂĂƐƐƚĂƚĞĚƚŚĂƚDƌ͘,ĂƌĨŽƌĚĐŽƵůĚĞŵĂŝů,WŵĞŵďĞƌƐƚŚĞŝŶĨŽƌŵĂƚŝŽŶŽĨƚŚĞƉƌŽƉĞƌƚǇƚŚĂƚŝƐ ŬŶŽǁŶĂďŽƵƚƚŚĞƉƌŽƉĞƌƚǇƉƌŝŽƌƚŽƚŚĞŵĞĞƚŝŶŐ ,ĞƌŝƚĂŐĞWƌŽƉĞƌƚǇ>ŝƐƚĐƚŝŽŶWůĂŶ 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ǀŝĞǁŝŶŐŝƚǁŽƵůĚďĞĂďůĞƚŽŵĂŬĞƐƵŐŐĞƐƚŝŽŶĨŽƌĂĚĚŝƚŝŽŶƐŽƌƐƵďƚƌĂĐƚŝŽŶƐ͘,ĞƐƚĂƚĞĚƚŚĂƚĂůƐŽ ƚŚĞƌĞĂƌĞƉƌŽƉĞƌƚŝĞƐƚŚĂƚĂƌĞŶŽƚŽŶƚŚĞEZ,WĂŶĚƚŚĂƚƚŚĞůŝƐƚƐĂƌĞŝŶĐŽŶƐŝƐƚĞŶƚǁŝƚŚĞĂĐŚ ŽƚŚĞƌ͘ Dƌ͘,ĂƌĨŽƌĚĂƐŬĞĚŝĨƚŚĞ,WǁŽƵůĚůŝŬĞƐƚĂĨĨĨƌŽŵ^,/WKƚŽĐŽŵĞŽŶĚŽǁŶƚŽŐŝǀĞĂĚǀŝĐĞ ƌĞŐĂƌĚŝŶŐƚŚĞƚĂƐŬƐƚŚĂƚ,WŝƐĚŽŝŶŐĂŶĚŐŝǀĞŝŶĨŽƌŵĂƚŝŽŶĂďŽƵƚǁŚĂƚƚŚĞǇĐĂŶĂƐƐŝƐƚǁŝƚŚ͘ 3DFNHW3J )E 3DJHĂƐǁĞůů͘ ĐƚŝŽŶŝƚĞŵ͘ ^ĞĐƵƌŝƚǇŽĨĞŵŽůŝƚŝŽŶ^ŝƚĞƐ 3DFNHW3J )E 3DJH &LW\+HULWDJH3UHVHUYDWLRQ&RPPLVVLRQ )HEUXDU\ Dƌ͘WĞĚĞƌƐŽŶƐƚĂƚĞĚƚŚĂƚDƌ͘:ĞĨĨƌŽďĞƌŐĨƌŽŵDĐ'ŚŝĞĂŶĚĞƚƚƐ͕/ŶĐ͘ŚĂƐƐƵďŵŝƚƚĞĚĂůĞƚƚĞƌĂŶĚ ǁŝƐŚĞĚƚŽďĞŚĞĂƌĚ͘;ŽƉŝĞƐĂƌĞŽŶĨŝůĞĂƚƚŚĞZŽĐŚĞƐƚĞƌWůĂŶŶŝŶŐĂŶĚŽŶŝŶŐĞƉĂƌƚŵĞŶƚĂŶĚĂƌĞ ĂǀĂŝůĂďůĞƵƉŽŶƌĞƋƵĞƐƚͿ $WWDFKPHQW+3&PLQXWHV +HULWDJH3UHVHUYDWLRQ2UGLQDQFH'HPROLWLRQ3HUPLWDW6%URDGZD\ Dƌ͘WĞĚĞƌƐŽŶƐƚĂƚĞĚƚŚĂƚDƌ͘ƌŽďĞƌŐĂŶĚŚŝƐĐůŝĞŶƚƐŚĂǀĞĐŽŶĐĞƌŶĂďŽƵƚĞŵŽƉĞƌŵŝƚƐĐŽŵŝŶŐďĞĨŽƌĞ ,WĂŶĚƚŚĞĚĞůĂǇŽĨŚĂǀŝŶŐƚŚĂƚŽĐĐƵƌƐŝŶƚŚĞƉƵďůŝĐďĞŝŶŐĂĐŽŶƚƌŝďƵƚŽƌƚŚĂƚĐŽƵůĚŝŶĐŝƚĞǀĂŶĚĂůŝƐŵ͘ :ĞĨĨƌŽďĞƌŐŽĨDĐ'ŚŝĞĂŶĚĞƚƚƐ͕/ŶĐ͘ĂĚĚƌĞƐƐĞĚƚŚĞŽŵŵŝƐƐŝŽŶͿ Dƌ͘ƌŽďĞƌŐƐƚĂƚĞĚƚŚĂƚŝƚŚĂƐďĞĞŶƚŚĞŝƌŽďƐĞƌǀĂƚŝŽŶƚŚĂƚŝĨƉĞŽƉůĞƐĞĞƚŚĞƐĞƉƌŽƉĞƌƚŝĞƐǀĂĐĂŶƚ͕ƚŚĞǇĂƌĞ 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ĂƐƚŚĞƌĞĂƌĞƐƚĂƚĞƌƵůĞƐ͕ƉŽůůƵƚŝŽŶĐŽŶƚƌŽůƌĞƋƵŝƌĞŵĞŶƚƐ͘,ĞƐƚĂƚĞĚƚŚĂƚŝƚŝƐƵƉƚŽĞǀĞƌǇŽŶĞŶŽƚƚŽƚĞůů:ĞĨĨ <ŝŐĞƌƵŶůĞƐƐƚŚĞǇĂƌĞƚƌǇŝŶŐƚŽŐĞƚŐŽŽĚƉƌĞƐƐ͘ Dƌ͘WĞĚĞƌƐŽŶŵŽǀĞĚƚŽƌĞĨĞƌƚŚŝƐŵĂƚƚĞƌƚŽĐŝƚǇƐƚĂĨĨĨŽƌƚŚĞŝƌĐŽŶƐŝĚĞƌĂƚŝŽŶŽĨƚŚĞƚƌĂŶƐƉĂƌĞŶĐŝĞƐŽĨ ĚĞŵŽůŝƚŝŽŶƉĞƌŵŝƚƐ͘DƐ͘'ƵŝŵĂƌĞƐƐĞĐŽŶĚĞĚƚŚĞŵŽƚŝŽŶ͘dŚĞŵŽƚŝŽŶĐĂƌƌŝĞĚƵŶĂŶŝŵŽƵƐůǇ͘ Dƌ͘ĞŶŝŬĞƐƚĂƚĞĚƚŚĂƚƚŚĞƌĞĂƌĞĚĞŵŽůŝƚŝŽŶƉĞƌŵŝƚƐƚŚĂƚĂƌĞŐŽŝŶŐĨŽƌǁĂƌĚƚŚĂƚŚĂǀĞŶŽƚŚŝŶŐƚŽĚŽǁŝƚŚ ƚŚŝƐĐŽŵŵŝƚƚĞĞƌĞŐĂƌĚƚŽDƌ͘ƌŽďĞƌŐ͛ƐƉƌĞƐĞŶƚĂƚŝŽŶ͘ Dƌ͘ůůŵĂŶĐůŽƐŝŶŐƚŚĞƉƵďůŝĐŚĞĂƌŝŶŐ KƉĞŶ&ŽƌƵŵ &ŽƌƵŵůŝŵŝƚĞĚƚŽϭϱŵŝŶƵƚĞƐͲϮŵŝŶƵƚĞƐƉĞƌƐƉĞĂŬĞƌ EŽĐŽŵŵĞŶƚƐŽŶŵĂƚƚĞƌƐĐŽŶƐŝĚĞƌĞĚŝŶůŝƚŝŐĂƚŝŽŶŽƌŝŶŶĞŐŽƚŝĂƚŝŽŶ Dƌ͘<ƌƵĞƐĞůƐƚĂƚĞĚƚŚĂƚĂƚƚŚĞƉƵďůŝĐůŝďƌĂƌǇĨŽƌƵŵŽŶ,ŝƐƚŽƌŝĐWƌĞƐĞƌǀĂƚŝŽŶDƌ͘:ŽŚŶtĂĚĞƐƚĂƚĞĚƚŚĂƚ ŚĞǁŽƵůĚĨŝŶĚŵŽŶĞǇĨŽƌ,ŝƐƚŽƌŝĐWƌĞƐĞƌǀĂƚŝŽŶ͘,ĞƐƚĂƚĞĚƚŚĂƚŚĞŝƐĚŝƐĂƉƉŽŝŶƚĞĚƚŚĂƚƚŚĞƌĞǁĂƐŶŽ 3DFNHW3J )E 3DJH &LW\+HULWDJH3UHVHUYDWLRQ&RPPLVVLRQ )HEUXDU\ ĐŽŶƐŝĚĞƌĂƚŝŽŶŽĨƚŚĞƌĞƵƐĞŽĨƚŚĞƐƚŽƌĞĨƌŽŶƚŽƌŝŶƚĞŐƌĂƚŝŽŶĂŶĚƚŚĞŵŽǀŝŶŐĨŽƌǁĂƌĚŝĨƚŚĞĚĞŵŽůŝƚŝŽŶ ƉĞƌŵŝƚ͘ $WWDFKPHQW+3&PLQXWHV +HULWDJH3UHVHUYDWLRQ2UGLQDQFH'HPROLWLRQ3HUPLWDW6%URDGZD\ 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