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New Roman]]6HUYLFH [[664,702,676,755][11][,I,][Times New Roman]] [[673,702,767,755][11][,I,][Times New Roman]]'HVN [[765,702,777,755][11][,I,][Times New Roman]] [[776,702,970,755][11][,I,][Times New Roman]]RSHUDWLRQV [[970,702,982,755][11][,I,][Times New Roman]] [[982,702,1187,755][11][,I,][Times New Roman]]VSHFLILFDOO\ [[1188,702,1200,755][11 ][,I,][Times New Roman]] [[1199,702,1330,755][11][,I,][Times New Roman]]UHODWHG [[1327,702,1339,755][11][,I,][Times New Roman]] [[1339,702,1386,755][11][,I,][Times New Roman]]WR [[1386,702,1483,75 5][11][,I,][Times New Roman]]HYHQW [[1482,702,1494,755][11][,I,][Times New Roman]] [[1493,702,1726,755][11][,I,][Times New Roman]]PDQDJHPHQW [[1725,702,1737,755][11][,I,][Times New Roman]] [[1731,702,1877,755][11][,I,][Times New Roman]]SROLFLHV [[1877,702,1889,755][11][,I,][Times New Roman]] [[1888,702,1968,755][11][,I,][Times New Roman]]DQG [[1963,702,2183,755][11][,I,][Ti mes New Roman]]SURFHGXUHV [[2183,702,2195,755][11][,,][Times New Roman]] h^KďũĞĐƚŝǀĞϱ͗>ŽŐŝĐĂů^ĞĐƵƌŝƚǇ [[300,918,573,970][11][B,I,][Times New Roman]]8&62EMHFWLYH [[574,918,586,970][11][B,I,][Times New Roman]] [[585,918,766,970][11][B,I,][Times New Roman]]6XPPDU\ [[768,918,780,970][11][B,I,][Times New Roman]] [[779,918,851,970][11][B,I,][Times New Roman]]DQG [[849,918,861,970][11][B,I,][Times New Roman]] [[857,918,1028,970][11][B,I,][Times New Roman]]3XUSRVH [[1030,918,1042,970][11][B,I,][ Times New Roman]] [[1041,918,1053,970][11][B,I,][Times New Roman]] [[1053,918,1120,971][11][,I,][Times New Roman]]7KH [[1120,918,1132,971][11][,I,][Times New Roman]] [[1131,918,1213,971][11][,I,][ Times New Roman]]JRDO [[1212,918,1224,971][11][,I,][Times New Roman]] [[1224,918,1269,971][11][,I,][Times New Roman]]RI [[1259,918,1271,971][11][,I,][Times New Roman]] [[1270,918,1325,971][11][,I,] [Times New Roman]]WKH [[1326,918,1338,971][11][,I,][Times New Roman]] [[1335,918,1475,971][11][,I,][Times New Roman]]/RJLFDO [[1476,918,1488,971][11][,I,][Times New Roman]] [[1487,918,1635,971][11] [,I,][Times New Roman]]6HFXULW\ [[1635,918,1647,971][11][,I,][Times New Roman]] [[1647,918,1820,971][11][,I,][Times New Roman]]2EMHFWLYH [[1821,918,1833,971][11][,I,][Times New Roman]] [[1832,918,1862,971][11][,I,][Times New Roman]]LV [[1863,918,1875,971][11][,I,][Times New Roman]] [[1874,918,1921,971][11][,I,][Times New Roman]]WR [[1921,918,2041,971][11][,I,][Times New Roman]]HQVXUH [[2042,918,2054,971][11][,I,][Times New Roman]] [[2053,918,2108,971][11][,I,][Times New Roman]]WKH [[2109,918,2121,971][11][,I,][Times New Roman]] [[298,971,462,1024][11][,I,][Times New Roman]]3URYLGHU [[462,971,474,1024][11][,I,][Times New Roman]] [[473,971,536,1024][11][,I,][Times New Roman]]KDV [[536,971,548,1024][11][,I,][Times New Roman]] [[548,971,646,1024][11][,I,][Times New Roman]]WDNHQ [[646,971,658,1024][11][,I,][Times New Roman]] [[657,971,712,1024][11][,I,][Times New Roman]]WKH [[712,971,724,1024][11][,I,][Times New Roman]] [[724,971,940,1024][11][,I,][Times New Roman]]DSSURSULDWH [[941,971,953,1024][11][,I,][Times New Roman]] [[947,971,1166,1024][11][,I,][Times New Roman]]SUHFDXWLRQV [[1166,971,1178,1024 ][11][,I,][Times New Roman]] [[1177,971,1212,1024][11][,I,][Times New Roman]]WR [[1213,971,1225,1024][11][,I,][Times New Roman]] [[1224,971,1415,1024][11][,I,][Times New Roman]]LPSOHPHQW [[1414,971,1426,1024][11][,I,][Times New Roman]] [[1425,971,1604,1024][11][,I,][Times New Roman]]QHFHVVDU\ [[1604,971,1616,1024][11][,I,][Times New Roman]] [[1615,971,1764,1024][11][,I,][Times New Roman]]FRQWUROV [[1764,971,1776,1024][11][,I,][Times New Roman]] [[1775,971,1810,1024][11][,I,][Times New Roman]]LQ [[1810,971,1822,1024][11][,I,][Times New Roman]] [[1821,971,1922,1024][11][, I,][Times New Roman]]RUGHU [[1922,971,1934,1024][11][,I,][Times New Roman]] [[1934,971,1969,1024][11][,I,][Times New Roman]]WR [[1969,971,1981,1024][11][,I,][Times New Roman]] [[1980,971,2163,1024] [11][,I,][Times New Roman]]HIIHFWLYHO\ [[2164,971,2176,1024][11][,I,][Times New Roman]] [[299,1024,427,1077][11][,I,][Times New Roman]]JRYHUQ [[428,1024,440,1077][11][,I,][Times New Roman]] [[439,1024,557,1077][11][,I,][Times New Roman]]DFFHVV [[557,1024,569,1077][11][,I,][Times New Roman]] [[568,1024,614,1077][11][,I,][Times New Roman]]WR [[615,1024,792,1077][11][,I,][Times New Roman]]&XVWRPHU [[792,1024,804,1077][11][,I,][Times New Roman]] [[803,1024,883,1077][11][,I,] [Times New Roman]]DQG [[883,1024,979,1077][11][,I,][Times New Roman]]RWKHU [[979,1024,991,1077][11][,I,][Times New Roman]] [[990,1024,1145,1077][11][,I,][Times New Roman]]VHQVLWLYH [[1147,1024,1159,1077][11][,I,][Times New Roman]] [[1157,1024,1249,1077][11][,I,][Times New Roman]]GDWD [[1249,1024,1261,1077][11][,I,][Times New Roman]] [[1261,1024,1424,1077][11][,I,][Times New Roman]]QHWZRUNV [[1425,1024,1437,1077][11][,I,][Times New Roman]] [[1436,1024,1516,1077][11][,I,][Times New Roman]]DQG [[1516,1024,1653,1077][11][,I,][Times New Roman]]V\VWHPV [[1655,1024,1667,1077][11][,I,][Times New Roman]] [[1666,1024,1738,1077][11][,I,][Times New Roman]]WKDW [[1737,1024,1749,1077][11][,I,][Times New Roman]] [[1748,1024,1823,1077][11][,I,][Times New Roman]]PD\ [[1823,1024,1835,1077][11][,I,][Times New Roman]] [[1834,1024,2055,1077][11][,I,][Times New Roman]]FRPSURPLVH [[2057,1024,2069,1077][11][,I,][Times New Roman]] [[2067,1024,2210,1077 ][11][,I,][Times New Roman]]VHFXULW\ [[2211,1024,2223,1077][11][,I,][Times New Roman]] [[300,1076,345,1129][11][,I,][Times New Roman]]RI [[336,1076,348,1129][11][,I,][Times New Roman]] [[348,1076,428,1129][11][,I,][Times New Roman]]ERWK [[429,1076,441,1129][11][,I,][Times New Roman]] [[440,1076,495,1129][11][,I,][Times New Roman]]WKH [[496,1076,508,1129][11][,I,][Times New Roman]] [[505,1076,669,1129][11][,I,][Times New Roman]]3URYLGHU [[668,1076,680,1129][11][,I,] [Times New Roman]] [[679,1076,749,1129][11][,I,][Times New Roman]]DQG [[748,1076,760,1129][11][,I,][Times New Roman]] [[759,1076,814,1129][11][,I,][Times New Roman]]WKH 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[[479,1341,551,1394][11][,I,][Times New Roman]]WKDW [[550,1341,562,1394][11][,I,][Times New Roman]] [[560,1341,724,1394][11][,I,][Times New Roman]]3URYLGHU [[723,1341,735,1394][11][,I,][Times New Roman]] [[734,1341,797,1394][11][,I, ][Times New Roman]]KDV [[798,1341,810,1394][11][,I,][Times New Roman]] [[808,1341,976,1394][11][,I,][Times New Roman]]VXIILFLHQW [[975,1341,987,1394][11][,I,][Times New Roman]] [[981,1341,1127,1394 ][11][,I,][Times New Roman]]SROLFLHV [[1127,1341,1139,1394][11][,I,][Times New Roman]] [[1138,1341,1208,1394][11][,I,][Times New Roman]]DQG [[1207,1341,1219,1394][11][,I,][Times New Roman]] [[1213,1341,1422,1394][11][,I,][Times New Roman]]SURFHGXUHV [[1423,1341,1435,1394][11][,I,][Times New Roman]] [[1434,1341,1612,1394][11][,I,][Times New Roman]]RSHUDWLQJ [[1610,1341,1622,13 94][11][,I,][Times New Roman]] [[1621,1341,1804,1394][11][,I,][Times New Roman]]HIIHFWLYHO\ [[1804,1341,1816,1394][11][,I,][Times New Roman]] [[1815,1341,1895,1394][11][,I,][Times New 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New Roman]]LQFOXGLQJ [[472,1499,484,1552][11][,I,][Times New Roman]] [[483,1499,632,1552][11][,I,][Times New Roman]]ORFDWLRQ [[632,1499,644,1552][11][,I,][Times New Roman]] [[643,1499,688,1552][11][,I,][Times New Roman]]RI [[679,1499,691,1552][11][,I,][Times New Roman]] [[689,1499,844,1552][11][,I,][Times New Roman]]VHQVLWLYH [[845,1499,857,1552][11][,I,] [Times New Roman]] [[857,1499,948,1552][11][,I,][Times New Roman]]GDWD [[949,1499,961,1552][11][,I,][Times New Roman]] [[960,1499,1154,1552][11][,I,][Times New Roman]]HQFU\SWLRQ [[1154,1499,1166,1 552][11][,I,][Times New Roman]] [[1166,1499,1211,1552][11][,I,][Times New Roman]]RI [[1201,1499,1213,1552][11][,I,][Times New Roman]] [[1212,1499,1304,1552][11][,I,][Times New Roman]]GDWD [[1304,1499,1316,1552][11][,I,][Times New Roman]] [[1314,1499,1394,1552][11][,I,][Times New Roman]]DQG [[1395,1499,1628,1552][11][,I,][Times New Roman]]PDQDJHPHQW [[1627,1499,1639,1552][11][,I,][T imes New Roman]] [[1639,1499,1684,1552][11][,I,][Times New 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ŶŽŶƐƚĂŶĚĂƌĚƉƌŝĐĞĂŶĚƉĂǇŵĞŶƚƚĞƌŵƐ͕ŽƌƉĞƌĨŽƌŵĂŶĐĞƌĞƋƵŝƌĞŵĞŶƚƐĂƉƉůŝĐĂďůĞƚŽƚŚĞ^ĞƌǀŝĐĞƐ ǁŚŝĐŚĂƌĞĚĞƐŝŐŶĂƚĞĚĂƐĐŽŶĨŝĚĞŶƚŝĂůŝŶĨŽƌŵĂƚŝŽŶŽĨŽŶĞƉĂƌƚǇŽƌƚŚĞŽƚŚĞƌ͕ǁŝůůďĞĂŶĚǁŝůůďĞ ĚĞĞŵĞĚƚŽŚĂǀĞďĞĞŶƌĞĐĞŝǀĞĚŝŶĐŽŶĨŝĚĞŶĐĞĂŶĚǁŝůůďĞƵƐĞĚŽŶůǇĨŽƌƉƵƌƉŽƐĞƐŽĨĞĂĐŚƉĂƌƚǇΖƐ ;ŝͿĐĂƌƌǇŝŶŐŽƵƚƚŚĞƚĞƌŵƐŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͕;ŝŝͿŝŶ^ƵďƐĐƌŝďĞƌΖƐĐĂƐĞ͕ƵƐŝŶŐ͕ŵĂŶĂŐŝŶŐ͕ ŵĂŝŶƚĂŝŶŝŶŐŽƌƌĞƉůĂĐŝŶŐƚŚĞ^ǇƐƚĞŵĂƐŝƚƐŝŶƚĞƌŶĂůŶĞĞĚƐĚŝĐƚĂƚĞ͕ĂŶĚ;ŝŝŝͿĂƐŽƚŚĞƌǁŝƐĞ ƉĞƌŵŝƚƚĞĚďǇƚŚĞŐƌĞĞŵĞŶƚ͘ ;ϮͿĂĐŚŽĨWƌŽǀŝĚĞƌĂŶĚ^ƵďƐĐƌŝďĞƌĂŐƌĞĞƐƚŽƵƐĞƚŚĞƐĂŵĞŵĞĂŶƐĂƐŝƚƵƐĞƐƚŽƉƌŽƚĞĐƚŝƚƐ ŽǁŶĐŽŶĨŝĚĞŶƚŝĂůŝŶĨŽƌŵĂƚŝŽŶ͕ďƵƚŝŶŶŽĞǀĞŶƚůĞƐƐƚŚĂŶƌĞĂƐŽŶĂďůĞŵĞĂŶƐ͕ƚŽƉƌĞǀĞŶƚƚŚĞ ƵŶĂƵƚŚŽƌŝǌĞĚƵƐĞŽƌĚŝƐĐůŽƐƵƌĞĂŶĚƚŽƉƌŽƚĞĐƚƚŚĞĐŽŶĨŝĚĞŶƚŝĂůŝƚǇƚŚĞƌĞŽĨ͘ǆĐĞƉƚĂƐŽƚŚĞƌǁŝƐĞ ƉĞƌŵŝƚƚĞĚďǇƚŚĞŐƌĞĞŵĞŶƚ͕ŶŽƐƵĐŚŝŶĨŽƌŵĂƚŝŽŶǁŝůůďĞĚŝƐĐůŽƐĞĚďǇƚŚĞƌĞĐŝƉŝĞŶƚƉĂƌƚǇ ǁŝƚŚŽƵƚƚŚĞƉƌŝŽƌǁƌŝƚƚĞŶĐŽŶƐĞŶƚŽĨƚŚĞŽƚŚĞƌƉĂƌƚǇ͖ƉƌŽǀŝĚĞĚ͕ŚŽǁĞǀĞƌ͕ƚŚĂƚĞĂĐŚƉĂƌƚǇŵĂǇ ĚŝƐĐůŽƐĞƚŚĞŽƚŚĞƌƉĂƌƚǇΖƐĐŽŶĨŝĚĞŶƚŝĂůŝŶĨŽƌŵĂƚŝŽŶƚŽƚŚŽƐĞŽĨƚŚĞƌĞĐŝƉŝĞŶƚƉĂƌƚǇΖƐĞŵƉůŽǇĞĞƐ͕ ĐŽŶƚƌĂĐƚŽƌƐ͕ĂŐĞŶƚƐ͕ĂƚƚŽƌŶĞǇƐ͕ĂƵĚŝƚŽƌƐ͕ĂŶĚŝŶƐƵƌĞƌƐ;ŝĨĂƉƉůŝĐĂďůĞͿǁŚŽŚĂǀĞĂŶĞĞĚƚŽŚĂǀĞ ĂĐĐĞƐƐƚŽƐƵĐŚŝŶĨŽƌŵĂƚŝŽŶŝŶĐŽŶŶĞĐƚŝŽŶǁŝƚŚƚŚĞŝƌĞŵƉůŽǇŵĞŶƚ;ŽƌĞŶŐĂŐĞŵĞŶƚ͕ŝĨĂƉƉůŝĐĂďůĞͿ ďǇƚŚĞƌĞĐŝƉŝĞŶƚƉĂƌƚǇ͘dŚĞƌĞĐŝƉŝĞŶƚƉĂƌƚǇƚĂŬĞƐƌĞĂƐŽŶĂďůĞƐƚĞƉƐƚŽƌĞƋƵŝƌĞƐƵĐŚŝŶĚŝǀŝĚƵĂůƐ ĂŶĚĞŶƚŝƚŝĞƐƚŽďĞďŽƵŶĚďǇĐŽŶĨŝĚĞŶƚŝĂůŝƚǇŽďůŝŐĂƚŝŽŶƐŶŽůĞƐƐƌĞƐƚƌŝĐƚŝǀĞƚŚĂŶƚŚŽƐĞƌĞƋƵŝƌĞĚ ŚĞƌĞƵŶĚĞƌ͘ ;ϯͿdŚĞĨŽƌĞŐŽŝŶŐǁŝůůŶŽƚƉƌĞǀĞŶƚĞŝƚŚĞƌƉĂƌƚǇĨƌŽŵĚŝƐĐůŽƐŝŶŐŝŶĨŽƌŵĂƚŝŽŶƚŚĂƚ;ŝͿďĞůŽŶŐƐƚŽ ƐƵĐŚƉĂƌƚǇŽƌŝƐĂůƌĞĂĚǇŬŶŽǁŶďǇƚŚĞƌĞĐŝƉŝĞŶƚƉĂƌƚǇ͕ĨƌĞĞŽĨĂŶǇŽƚŚĞƌĐŽŶĨŝĚĞŶƚŝĂůŝƚǇ ŽďůŝŐĂƚŝŽŶ;ŝ͘Ğ͕͘ƐĞƉĂƌĂƚĞĨƌŽŵƚŚĞĐŽŶĨŝĚĞŶƚŝĂůŝƚǇŽďůŝŐĂƚŝŽŶŚĞƌĞŝŶͿĚŝƌĞĐƚůǇŽƌŝŶĚŝƌĞĐƚůǇŽǁĞĚ ƚŽƚŚĞĚŝƐĐůŽƐŝŶŐƉĂƌƚǇ͕;ŝŝͿŝƐƉƵďůŝĐůǇŬŶŽǁŶŽƌďĞĐŽŵĞƐƉƵďůŝĐůǇŬŶŽǁŶƚŚƌŽƵŐŚŶŽ ƵŶĂƵƚŚŽƌŝǌĞĚĂĐƚŽĨƚŚĞƌĞĐŝƉŝĞŶƚƉĂƌƚǇ͕;ŝŝŝͿŝƐƌŝŐŚƚĨƵůůǇƌĞĐĞŝǀĞĚĨƌŽŵĂƚŚŝƌĚƉĂƌƚǇǁŚŽŝƐŶŽƚ 3DFNHW3J 'ƚŚĞŵĂƚƚĞƌ͘ ;ϱͿƵƌŝŶŐƚŚĞdĞƌŵŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͕ďŽƚŚƉĂƌƚŝĞƐĂŐƌĞĞƚŽĐŽŵƉůǇǁŝƚŚƉƌŝǀĂĐǇůĂǁƐ ĚŝƌĞĐƚůǇĂƉƉůŝĐĂďůĞƚŽƚŚĞŝƌƌĞƐƉĞĐƚŝǀĞďƵƐŝŶĞƐƐĞƐ͘dŽƚŚĞĞǆƚĞŶƚ^ƵďƐĐƌŝďĞƌŝƐƌĞƋƵŝƌĞĚďǇůĂǁƚŽ ĚŽƐŽǁŝƚŚƌĞƐƉĞĐƚƚŽ^ƵďƐĐƌŝďĞƌĚĂƚĂƚŚĂƚŝƐƉƌŽǀŝĚĞĚƚŽWƌŽǀŝĚĞƌƚŽƉĞƌĨŽƌŵƚŚĞ^ĞƌǀŝĐĞƐ͕ WƌŽǀŝĚĞƌƐŚĂůůŝŵƉůĞŵĞŶƚĂƉƉƌŽƉƌŝĂƚĞƐĞĐƵƌŝƚǇŵĞĂƐƵƌĞƐ͕ƉŽůŝĐŝĞƐĂŶĚƉƌŽĐĞĚƵƌĞƐƚŚĂƚĂƌĞ 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,ĞƉƌĞƐĞŶƚĞĚƉƌŽũĞĐƚŚŝƐƚŽƌǇĂŶĚďĂĐŬŐƌŽƵŶĚ͖ƚŚĞĐƌĞĂƚŝŽŶŽĨƚŚĞďĞƌŵǁĂƐĨŽƌŚĞůƉŝŶŐƚŽďƵĨĨĞƌďĞƚǁĞĞŶƚǁŽ ĚĞǀĞůŽƉŵĞŶƚƐ͖ƉƌŽƉĞƌƚǇƚŽƚŚĞǁĞƐƚŝƐEZƉƌŽƉĞƌƚǇĂŶĚĨůŽŽĚƉůĂŝŶŝƐĞǆŝƐƚŝŶŐ͖ŚĞƌĞǀŝĞǁĞĚƚŚĞĨŝŶĚŝŶŐƐŝŶƚŚĞƐƚĂĨĨ ƌĞƉŽƌƚĂŶĚĚŝƐĐƵƐƐĞĚĂĚũĂĐĞŶƚĐŽŵŵĞƌĐŝĂůƐŝƚĞƐŝŶƌĞůĂƚŝŽŶƚŽƚŚĞƉƌŽƉŽƐĞĚĚĞǀĞůŽƉŵĞŶƚ͖ƐƵďƐƚĂŶƚŝĂůŝŵƉƌŽǀĞŵĞŶƚƐ ŚĂǀĞďĞĞŶŵĂĚĞĨŽƌƉĞĚĞƐƚƌŝĂŶĐŽŶŶĞĐƚŝŽŶƐƚŽƚŚĞ^ŚŽƉƉĞƐŽŶDĂŝŶĞ͖ƚŚĞƌĞŝƐĂĨƵƚƵƌĞĂůŝŐŶŵĞŶƚŽĨĂĨƌŽŶƚĂŐĞƌŽĂĚ ĂůŽŶŐƚŚĞǁĞƐƚƐŝĚĞŽĨ,ŝŐŚǁĂǇϲϯƐŽƚŚĞĨŝŶĚŝŶŐŽĨƚŚĞƉƌŽǆŝŵŝƚǇŽĨĂďƵƐƐƚŽƉďĞŝŶĂĐĐĞƐƐŝďůĞŝƐŶŽƚĂŐƌĞĞĂďůĞ͖ĂŶĚ ŶŽƚĞĚůĞƚƚĞƌŽĨƐƵƉƉŽƌƚĨƌŽŵƚŚĞĂĚũĂĐĞŶƚĐŽŵŵĞƌĐŝĂůƉƌŽƉĞƌƚŝĞƐ͖ĂŶĚĂŶĞŝŐŚďŽƌŚŽŽĚŵĞĞƚŝŶŐǁĂƐŚĞůĚǁŝƚŚŶŽ ŶĞŝŐŚďŽƌƐŽƌĂĚũĂĐĞŶƚƉƌŽƉĞƌƚǇŽǁŶĞƌƐŝŶĂƚƚĞŶĚĂŶĐĞ͘ _3DJH 3DFNHW3J )K ŝƚǇWůĂŶŶŝŶŐĂŶĚŽŶŝŶŐŽŵŵŝƐƐŝŽŶDŝŶƵƚĞƐ,ĞĂƌŝŶŐĂƚĞ͗:ƵůǇϭϯ͕ϮϬϭϲ DƐ͘^ĞĂďƌŽŽŬĐŽŵŵĞŶƚĞĚĐŽŶĐĞƌŶǁŝƚŚƌĞƐŝĚĞŶƚƐůŝǀŝŶŐŝŶƚŚĞƉƌŽƉŽƐĞĚĂƌĞĂĂŶĚƚŚĞĂĚŽůĞƐĐĞŶƚƐŚĂǀŝŶŐĂĐĐĞƐƐƚŽ ƉůĂĐĞƐůŝŬĞƐƵĐŚĂƐDĐŽŶĂůĚƐĂŶĚĂƚƌƵĐŬƐƚŽƉ͘ Dƌ͘EĞƵďĂƵĞƌŶŽƚĞĚƚŚĞϮϰŚŽƵƌŽƉĞƌĂƚŝŽŶĂŶĚůŝŐŚƚŝŶŐŽĨƚŚĞƚƌƵĐŬƐƚŽƉŚĂǀĞďĞĞŶƐƵďŵŝƚƚĞĚǁŝƚŚƉŚŽƚŽŵĞƚƌŝĐ ĚƌĂǁŝŶŐĂŶĚŝƚƌĞƉƌĞƐĞŶƚƐƚŚĞůŝŐŚƚŝŶŐďĞŝŶŐŬĞƉƚƚŽƚŚĞƉƌŽƉĞƌƚǇ͘ DƐ͘^ĞĂďƌŽŽŬĂƐŬŝŶŐĂďŽƵƚŽƚŚĞƌƉƌŽƉĞƌƚǇŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌƚŚŝƐƐŝƚĞ͘ Dƌ͘EĞƵďĂƵĞƌŶŽƚĞĚŵĂƌŬĞƚŝŶŐŚĂƐďĞĞŶĂĚĚƌĞƐƐĞĚĨŽƌŚŽƚĞůƐĂŶĚƌĞƐƚĂƵƌĂŶƚƐďƵƚŶŽŝŶƚĞƌĞƐƚŚĂƐďĞĞŶƐŚŽǁŶ͘,Ğ ĂůƐŽĐŽŵŵĞŶƚĞĚŽŶƚŚĞdƌĂĨĨŝĐŝŵƉĂĐƚƐƚƵĚǇŚĂƐďĞĞŶƐƵďŵŝƚƚĞĚƚŽƚŚĞŝƚǇWƵďůŝĐtŽƌŬƐĞƉĂƌƚŵĞŶƚƐ͖ĐŽŵŵĞŶƚƐ ŚĂǀĞďĞĞŶƌĞĐĞŝǀĞĚĂŶĚƚŚĞǇŚĂǀĞƌĞƐƉŽŶĚĞĚƐŽƌĞƋƵĞƐƚĞĚƚŚĞĐŽŶĚŝƚŝŽŶďĞƐƚƌƵĐŬŝŶƌĞŐĂƌĚƐƚŽƚŚĞĚĞǀĞůŽƉŵĞŶƚ ďĞŝŶŐůŝŵŝƚĞĚƵŶƚŝůŽŵŵĞƌĐŝĂůƌŝǀĞŝƐĞǆƚĞŶĚĞĚ͘ Ɛƚ Dƌ͘DĂƌŬhƚǌ͕tĞŶĚůĂŶĚΘhƚǌ͕ůŽĐĂƚĞĚϮϭϭ^ƚƌĞĞƚ^t͕ZŽĐŚĞƐƚĞƌ͕DŝŶŶĞƐŽƚĂϱϱϵϬϮ͕ĂĚĚƌĞƐƐĞĚƚŚĞŽŵŵŝƐƐŝŽŶ͘ ,ĞĂĚĚƌĞƐƐĞĚƚŚĞƐƚĂĨĨĐŽŵŵĞŶƚĂďŽƵƚƚŚĞƉƌŽƉĞƌƚǇďĞŝŶŐŝƐŽůĂƚĞĚ͖ŚĞĚŝƐĂŐƌĞĞĚĂƐƚŚĞĂĐĐĞƐƐƚŽƚŚĞƌĞƚĂŝůĂĐƌŽƐƐ ƚŚĞŚŝŐŚǁĂǇŝƐĂǀĂŝůĂďůĞ͖ƚƌĂŝůƐǇƐƚĞŵŝƐĂǀĂŝůĂďůĞĨŽƌƉĞĚĞƐƚƌŝĂŶƐ͖ĂŶĚŶŽƚĞĚƚŚĞŶĂƚƵƌĂůďƵĨĨĞƌƚŽƚŚĞŶŽƌƚŚĨŽƌƚŚĞ ƉƌŽƉĞƌƚǇĂŶĚƚŚĞƵƐĞŽĨůĂŶĚƐĐĂƉŝŶŐƚĞĐŚŶŝƋƵĞƐ͖ĂŶĚŶĞŝŐŚďŽƌŚŽŽĚƐƵƉƉŽƌƚŚĂƐďĞĞŶĚŽĐƵŵĞŶƚĞĚ͘ Dƌ͘'ŽŽĚĞŶďĞƌŐĞƌĐŽŵŵĞŶƚĞĚŽŶƉƌŽƉĞƌƚŝĞƐĂĚũĂĐĞŶƚŽŶƚŚĞĞĂƐƚƐŝĚĞŽĨ,ŝŐŚǁĂǇϲϯĚŽŶŽƚƐŚĂƌĞĂŶĂĐĐĞƐƐǁŝƚŚ ƚŚĞĐŽŵŵĞƌĐŝĂůƉƌŽƉĞƌƚŝĞƐ͖ĂƐǁŝƚŚƚŚĞƉƌŽƉŽƐĞĚĚĞǀĞůŽƉŵĞŶƚǁŽƵůĚďĞƵƐŝŶŐƚŚĞƐĂŵĞĂĐĐĞƐƐƉŽŝŶƚ͘ Dƌ͘dŽŵ,ĞǆƵŵ͕ĚĞǀĞůŽƉĞƌůŽĐĂƚĞĚĂƚϰϯϮϱDĂŝŶĞǀĞŶƵĞ^͕ZŽĐŚĞƐƚĞƌ͕DEϱϱϵϬϰ͕ĂĚĚƌĞƐƐĞĚƚŚĞŽŵŵŝƐƐŝŽŶ͘,Ğ ĐŽŵŵĞŶƚĞĚĂƐƚŚĞŽƌŝŐŝŶĂůĚĞǀĞůŽƉĞƌŽĨƚŚĞƉƌŽƉĞƌƚǇĂŶĚƌĞĐĂƉƉĞĚƚŚĞŚŝƐƚŽƌǇŽĨƚŚĞƐŽƵƚŚĞĂƐƚĂƌĞĂĚĞǀĞůŽƉŵĞŶƚ͖ ĐŽŵŵĞŶƚĞĚŽŶƚŚĞƚƌĂĨĨŝĐƉĂƚƚĞƌŶƐĂŶĚƵƐĞŽŶϰϬ ƚŚ^ƚƌĞĞƚ͖^ƚ͘ƌŝĚŐĞƚƐZŽĂĚ͕ĂŶĚϰϴ ƚŚ^ƚƌĞĞƚĂƌĞĨƵŶĐƚŝŽŶŝŶŐǁĞůů͖ƚŚĞ ƵƐĞŽĨƉĂƌŬĂŶĚƌŝĚĞĂƚdĂƌŐĞƚŝƐĂĐĐĞƐƐŝďůĞďǇƚŚĞŽƵůĚĞƌƐ͖ĨŝƚŶĞƐƐƚƌĂŝůƐŚĂǀĞďĞĞŶĐŽŵƉůĞƚĞĚŝŶƚŚĞĂƌĞĂ͖ĂŶĚ ĐŽŵŵĞŶƚĞĚƚŚĂƚĚĞǀĞůŽƉĞƌƐĂƌĞƐĞĞŝŶŐƚŚĞƐŝƚĞĂƐĂƉŽƚĞŶƚŝĂůůŽĐĂƚŝŽŶĨŽƌƌĞƐŝĚĞŶƚŝĂůŚŽƵƐŝŶŐ͖ĂŶĚƐƚĂƚĞĚƚŚĞƌĞŝƐĂŶ ĂĐƚŝǀĞŵŝŶŝŶŐƉĞƌŵŝƚďǇ&ƌĂŶŬ<ŽƚƚƐĐŚĂĚĞŽŶϰϬ ƚŚ^ƚƌĞĞƚ͘ Ɛƚ Dƌ͘DĂƌŬhƚǌ͕tĞŶĚůĂŶĚΘhƚǌ͕ůŽĐĂƚĞĚĂƚϮϭϭ^ƚƌĞĞƚ^t͕ZŽĐŚĞƐƚĞƌ͕DŝŶŶĞƐŽƚĂϱϱϵϬϮ͕ĂĚĚƌĞƐƐĞĚƚŚĞŽŵŵŝƐƐŝŽŶ͘ ,ĞƐƚĂƚĞĚĂŐƌĞĞŵĞŶƚǁŝƚŚDƌ͘^ŝŵƐǁŝƚŚƚŚĞƉŽƐŝƚŝŽŶŽĨƚŚĞWďǇǀŽƚŝŶŐŝŶĨĂǀŽƌŽĨĞŶĐŽƵƌĂŐŝŶŐĚĞǀĞůŽƉŵĞŶƚƐ ǁŚŝĐŚƉƌŽǀŝĚĞĂƉŽƐŝƚŝǀĞĨƵƚƵƌĞůĂŶĚƵƐĞ͘ tŝƚŚŶŽŽŶĞĞůƐĞǁŝƐŚŝŶŐƚŽďĞŚĞĂƌĚ͕DƐ͘DĞĞŬĐůŽƐĞĚƚŚĞƉƵďůŝĐŚĞĂƌŝŶŐ͘ Dƌ͘'ŽŽĚĞŶďĞƌŐĞƌƐƚĂƚĞĚŚĞĨĞůƚƐŽŵĞŽĨƚŚĞĚŝƐĐƵƐƐŝŽŶǁĂƐďĞǇŽŶĚƚŚĞŝƌƐĐŽƉĞŽĨƚŚĞĐƵƌƌĞŶƚƌĞƋƵĞƐƚ͖ƚŚĞ ƉƌĞƐĞŶƚĞĚƉƌŽƉŽƐĞĚĚĞǀĞůŽƉŵĞŶƚǁŽƵůĚďĞĨĂĐŝŶŐƚŚĞĨĂĐĂĚĞŽĨĐŽŵŵĞƌĐŝĂůĚĞǀĞůŽƉŵĞŶƚ͖ĂŶĚƋƵĞƐƚŝŽŶƐŝĨƚŚĞƐĞ ĂƉƉůŝĐĂƚŝŽŶƐŵĞĞƚƚŚĞůŽĐĂƚŝŽŶĂůĂƐƉĞĐƚĨŽƌƌŝƚĞƌŝĂů͘ Dƌ͘,ŝůůĐŽŵŵĞŶƚĞĚŽŶƚŚĞƚƌĂŶƐŝƚŝƐƐƵĞĂƐĂŶĞĞĚŝƐƐƵĞ͖ŚŽǁƚŚŝƐĚĞǀĞůŽƉŵĞŶƚŝƐŝŶŝƐŽůĂƚŝŽŶĨƌŽŵŽƚŚĞƌƌĞƐŝĚĞŶƚŝĂů ĂƌĞĂƐ͖ĐŽŵŵĞŶƚĞĚŽŶŚŽǁƉĂƐƚĚĞǀĞůŽƉŵĞŶƚƐďĞŝŶŐďƵŝůƚďĞǇŽŶĚƚŚĞƌĞĂĐŚŽĨĐŽŵŵĞƌĐŝĂůďƵƚĚŽĞƐĂŶƚŝĐŝƉĂƚĞ ŐƌŽǁƚŚ͖ďƵĨĨĞƌŝŶŐĞǆŝƐƚŝŶŐŝŶƐŝĚĞŝƚǇ͛ƐĂŶĚŶŽŝƐĞŝƚŝƐƚŚĞĐŚŽŝĐĞŽĨƚŚĞƌĞƐŝĚĞŶƚƐŝĨƚŚĞǇǁĂŶƚƚŽůŝǀĞƚŚĞƌĞ͖ĂŶĚďĂƐĞĚ ŚĞĚŽĞƐŶŽƚĂŐƌĞĞŽŶƚŚĞƐƚĂĨĨĐŽŶĚŝƚŝŽŶƐ͘ Dƌ͘^ŚĞƌǁŽŽĚŶŽƚĞĚŽŶƚŚĞĐŽŵŵĞƌĐŝĂůĚĞǀĞůŽƉŵĞŶƚĨĂĐŝŶŐƚŚĞĨƌŽŶƚŽƌƚŚĞďĂĐŬ͕ƚŚŝƐŝĚĞĂŽĨƚŚĞĚĞǀĞůŽƉŵĞŶƚ ĨĂĐŝŶŐƚŚĞĐŽŵŵĞƌĐŝĂůŝƐŶŽƚĂŶŝƐƐƵĞ͖ĞǆŝƐƚŝŶŐǁĞƚůĂŶĚƐĂƌĞĂƉŽƐŝƚŝǀĞĂƐƉĞĐƚŽĨƚŚĞƉƌŽũĞĐƚĂŶĚŝƐƐƵƉƉŽƌƚŝǀĞŽĨƚŚĞ ƉƌŽũĞĐƚ͘ Dƌ͘ƵƌƐƚƐƚĂƚĞĚŚŝƐƐƵƉƉŽƌƚĨŽƌƚŚĞƉƌŽũĞĐƚĂŶĚůŝŬĞƐƚŚĞĚĞǀĞůŽƉŵĞŶƚ͖ŚĂƐǀŝƐŝƚĞĚƚŚĞ<ǁŝŬƚƌŝƉƐŝƚĞĂŶĚĚŽĞƐŶŽƚƐĞĞ ĂƉƌŽďůĞŵĨŽƌƚƌƵĐŬƚƌĂĨĨŝĐŽƌŶŽŝƐĞ͘ _3DJH 3DFNHW3J )K ŝƚǇWůĂŶŶŝŶŐĂŶĚŽŶŝŶŐŽŵŵŝƐƐŝŽŶDŝŶƵƚĞƐ,ĞĂƌŝŶŐĂƚĞ͗:ƵůǇϭϯ͕ϮϬϭϲ DƐ͘^ĞĂďƌŽŽŬƐƚĂƚĞĚƐŚĞĂƉƉƌĞĐŝĂƚĞƐƚŚĞƐƵƉƉŽƌƚŽĨƚŚĞƉƌŽũĞĐƚĨŽƌƚŚĞŶĞĞĚŽĨŚŽƵƐŝŶŐ͖ďƵƚĨĞĞůƐƐŚĞĚŽĞƐŶŽƚŚĂǀĞ ĞŶŽƵŐŚŝŶĨŽƌŵĂƚŝŽŶƚŽƐƵƉƉŽƌƚƚŚĞƉƌŽũĞĐƚĨŽƌƚŽƉŽŐƌĂƉŚŝĐĂŶĚĐŽŶĐĞƌŶƐǁŝƚŚŝƐŽůĂƚĞĚŚŽƵƐŝŶŐŝƐĂĐŽŶĐĞƌŶǁŝƚŚƚŚŝƐ ĚĞǀĞůŽƉŵĞŶƚ͖ŶŽƌŚĂǀĞƚŚĞƚƌĂĨĨŝĐĐŽŶĐĞƌŶƐďĞĞŶĂĚĚƌĞƐƐĞĚ͘ Dƌ͘^ŝŵƐƐƚĂƚĞĚŚĞĂŐƌĞĞƐǁŝƚŚƚŚĞƐƚĂĨĨƌĞĐŽŵŵĞŶĚĞĚĚĞŶŝĂůĂƐŝƚĐƌĞĂƚĞƐĂŶŝƐŽůĂƚĞĚƌĞƐŝĚĞŶƚŝĂůĚĞǀĞůŽƉŵĞŶƚŝŶĂ ĐŽŵŵĞƌĐŝĂůĂƌĞĂ͘ DƐ͘DĞĞŬŶŽƚĞĚĐŽŶĐĞƌŶǁŝƚŚƚŚĞƵŶŬŶŽǁŶƐƚŽƚŚĞD Ͳ ϭƉƌŽƉĞƌƚǇƚŽƚŚĞŶŽƌƚŚ͖ĂŶĚĂĚũĂĐĞŶƚĂůůŽǁĞĚƵƐĞƐĂƌĞ ŝŶĐŽŵƉĂƚŝďůĞǁŝƚŚƚŚĞƉƌŽƉŽƐĞĚƉƌŽũĞĐƚ͘ ŝƐĐƵƐƐŝŽŶĞŶƐƵĞĚĂŵŽŶŐƚŚĞĐŽŵŵŝƐƐŝŽŶŝŶŵĞĞƚŝŶŐƚŚĞĐƌŝƚĞƌŝĂƐƚĂƚĞĚŝŶƚŚĞŽŶŝŶŐKƌĚŝŶĂŶĐĞĂƐƚŽǁŚĂƚŶĞĞĚƐƚŽ ďĞƚŚĞĐŽŵŵŝƐƐŝŽŶŐƵŝĚĞůŝŶĞƐ͘ DƐ͘tŝůƐŽŶĐŽŵŵĞŶƚĞĚŽŶƚŚĞƐƚĂĨĨƌĞĐŽŵŵĞŶĚĞĚĨŝŶĚŝŶŐƐĂŶĚŝƐŝŶĂŐƌĞĞŵĞŶƚǁŝƚŚƚŚĞŝƌĨŝŶĚŝŶŐƐĂŶĚĨĞĞůƐƚŚĞ ŽƌĚŝŶĂŶĐĞĐƌŝƚĞƌŝĂŶĞĞĚƐƚŽďĞĨŽůůŽǁĞĚ͘ Dƌ͘'ŽŽĚĞŶďĞƌŐĞƌŵŽǀĞĚƚŽƌĞĐŽŵŵĞŶĚĚĞŶŝĂůŽĨ>ĂŶĚhƐĞWůĂŶŵĞŶĚŵĞŶƚηZϮϬϭϲ Ͳ ϬϬϱ>hWǁŝƚŚ ƚŚĞƐƚĂĨĨ Ͳ ƌĞĐŽŵŵĞŶĚĞĚĨŝŶĚŝŶŐƐ͘Dƌ͘^ŝŵƐƐĞĐŽŶĚĞĚƚŚĞŵŽƚŝŽŶ͘dŚĞŵŽƚŝŽŶĐĂƌƌŝĞĚϱ Ͳ ϯ͘Dƌ͘ƵƌƐƚ͕ Dƌ͘,ŝůůĂŶĚDƌ͘^ŚĞƌǁŽŽĚǀŽƚŝŶŐŶĂǇ͘ Dƌ͘'ŽŽĚĞŶďĞƌŐĞƌŵŽǀĞĚƚŽƌĞĐŽŵŵĞŶĚĚĞŶŝĂůŽĨŽŶŝŶŐDĂƉŵĞŶĚŵĞŶƚηZϮϬϭϲ Ͳ ϬϬϰǁŝƚŚƚŚĞ ƐƚĂĨĨ Ͳ ƌĞĐŽŵŵĞŶĚĞĚĨŝŶĚŝŶŐƐ͘Dƌ͘^ŝŵƐƐĞĐŽŶĚĞĚƚŚĞŵŽƚŝŽŶ͘dŚĞŵŽƚŝŽŶĐĂƌƌŝĞĚϱ Ͳ ϯ͘Dƌ͘ƵƌƐƚ͕Dƌ͘ ,ŝůůĂŶĚDƌ͘^ŚĞƌǁŽŽĚǀŽƚŝŶŐŶĂǇ͘ 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Dƌ͘'ŽŽĚĞŶďĞƌŐĞƌƐƚĂƚĞĚƐŚŽƵůĚŶŽƚĐŽŵƉƌŽŵŝƐĞĞŝƚŚĞƌƉƵďůŝĐƐĂĨĞƚǇŽƌƚŚĞĞŶǀŝƌŽŶŵĞŶƚĨŽƌ ĂĨĨŽƌĚĂďŝůŝƚǇ͘ DƐ͘tŝůƐŽŶĂƐŬĞĚ^ƚĂĨĨĨŽƌƚŚĞŝƌĨĞĞĚďĂĐŬĨƌŽŵDƌ͘^ŝŵƐƐƚĂƚĞŵĞŶƚʹƚŚĞŝƌĂďŝůŝƚǇͬĐĂƉĂĐŝƚǇƚŽĚŽƚŚŝƐ͘ Dƌ͘ůůĞƌďƵƐĐŚƌĞƉůŝĞĚƚŚĞŽŵŵŝƐƐŝŽŶǀŽƚĞƐ͕ŐŝǀĞƚŚĞŵŝŶƐƚƌƵĐƚŝŽŶƐ͘,ĞƐƚĂƚĞĚƚŚĞǇŚĂǀĞĂĚƌĂĨƚŽĨƚŚĞ ƉƌŽǀŝƐŝŽŶƚŚĂƚĂůůŽǁƐĂĐĐĞƐƐŽƌǇƐƚƌƵĐƚƵƌĞƐ DŽƚŝŽŶĨĂŝůĞĚĨŽƌůĂĐŬŽĨĂƐĞĐŽŶĚ͘ Dƌ͘ůůĞƌďƵƐĐŚƐƚĂƚĞĚƐŵĂůůĞƌĐŽŵŵƵŶŝƚŝĞƐƚŚĂƚĚŽŶŽƚŚĂǀĞƌĞŚĂďŝůŝƚĂƚŝŽŶĨĂĐŝůŝƚŝĞƐ͕ŚŽƐƉŝƚĂůƐƚŚĂƚŚĂǀĞĂ ĚŝƌĞŶĞĞĚĨŽƌĂƉĂƌĞŶƚƚŽůŝǀĞ͘ ŝƐĐƵƐƐŝŽŶĞŶƐƵĞĚƌĞŐĂƌĚŝŶŐƉůĂĐŝŶŐƌĞƐŽůƵƚŝŽŶŽƌĨŝŶĚŝŶŐƐƌĂƚŚĞƌƚŚĂŶĂĐŽŶĚŝƚŝŽŶ͘ _3DJH 3DFNHW3J )G ŝƚǇWůĂŶŶŝŶŐĂŶĚŽŶŝŶŐŽŵŵŝƐƐŝŽŶDŝŶƵƚĞƐ,ĞĂƌŝŶŐĂƚĞ͗ƵŐƵƐƚϭϬ͕ϮϬϭϲ DƐ͘ůĨƌĞĚƐŽŶƉƌŽǀŝĚĞĚƚŚĞĨŽůůŽǁŝŶŐƚŽƚŚĞŽŵŵŝƐƐŝŽŶ͗ ĂŶĂĐŝƚǇĂĚŽƉƚƉŝĞĐĞƐŽĨƚŚŝƐƉƌŽŐƌĂŵŽƌĐŚĂŶŐĞƚŚĞƌĞƋƵŝƌĞŵĞŶƚƐůŝƐƚĞĚŝŶƚŚĞƐƚĂƚƵƚĞ͍ ^ŝŵŝůĂƌƚŽƚŚĞĂŶƐǁĞƌĂďŽƵƚƉĂƌƚŝĂůůǇŽƉƚŝŶŐŽƵƚ͕ƚŚĞůĂǁĚŽĞƐŶŽƚƐƉĞĐŝĨŝĐĂůůǇĂƵƚŚŽƌŝǌĞĂĐŝƚǇƚŽĂůƚĞƌƚŚĞ ƐƚĂƚƵƚŽƌǇƌĞƋƵŝƌĞŵĞŶƚƐŽƌĂĚŽƉƚŽŶůǇũƵƐƚƉŝĞĐĞƐŽĨƚŚĞƐƚĂƚƵƚĞ͘^ĞǀĞƌĂůĐŝƚŝĞƐŚĂǀĞĂƐŬĞĚŝĨƚŚĞǇĐŽƵůĚ ĂĚĚĂĚĚŝƚŝŽŶĂůĐƌŝƚĞƌŝĂ͕ůŝŬĞƌĞŐƵůĂƚŝŶŐƉůĂĐĞŵĞŶƚŽŶĚƌŝǀĞǁĂǇƐ͕ƐƉĞĐŝĨŝĐůŽƚƐŝǌĞůŝŵŝƚƐ͕ŽƌĂŶĐŚŽƌŝŶŐ 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