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Home My WebLink AboutJune 19, 2017 Agenda Packet &,7<2)52&+(67(5 &LW\&RXQFLO$JHQGD &RXQFLO%RDUG&KDPEHUV WK6WUHHW6( 5HJXODU$GMRXUQHG0HHWLQJ-XQH &LW\&RXQFLO$JHQGD 0RQGD\-XQH &LW\&RXQFLO$JHQGD 0RQGD\-XQH $ 5(48(67)25&281&,/$&7,21 0((7,1*'$7( ' 5(48(67)25&281&,/$&7,21 0((7,1*'$7( 'D KhE/>Ͳ/E/d/dd/KE^&KZD ŽƵŶĐŝůDĞŵďĞƌZĞƋƵĞƐƚŝŶŐĐƚŝŽŶ͗ZĂŶĚǇ^ƚĂǀĞƌ ŽƵŶĐŝůDĞŵďĞƌƐƐƵƉƉŽƌƚŝŶŐƚŚĂƚƚŚĞƌĞƋƵĞƐƚďĞƉůĂĐĞĚŽŶƚŚĞŽƵŶĐŝů͛Ɛ ŐĞŶĚĂ͗DĂƌŬŝůĚĞƌďĂĐŬ ;ŽƵŶĐŝůͲŝŶŝƚŝĂƚĞĚĂĐƚŝŽŶƐŵƵƐƚŚĂǀĞĂƚůĞĂƐƚƚŚĞƐƵƉƉŽƌƚŽĨŽŶĞĐŽƵŶĐŝůŵĞŵďĞƌ͕ŝŶĂĚĚŝƚŝŽŶƚŽƚŚĞŝŶŝƚŝĂƚŽƌ͕ŝŶŽƌĚĞƌ ĨŽƌŝƚƚŽďĞƉůĂĐĞĚŽŶƚŚĞĂŐĞŶĚĂͿ dŝƚůĞ͗>ŽŐĂďŝŶ'ƌŝůůWƌĞƐĞƌǀĂƚŝŽŶ ƌŝĞĨĞƐĐƌŝƉƚŝŽŶŽĨĐƚŝŽŶ͗ĂǀŝĚ,ĞǁŝƚƚŚĂƐĂƉƌŽũĞĐƚŝŶƉƌŽĐĞƐƐƚŽƉƌĞƐĞƌǀĞ ĂŶĂƌĞĂƌŽĂĚƐŝĚĞĚŝŶĞƌĐƵƌƌĞŶƚůǇůŽĐĂƚĞĚŽŶDĂƌŝŽŶZŽĂĚ͘/ŶƐŚŽƌƚ͕ŚŝƐ ƉůĂŶŝƐƚŽĚĞĐŽŶƐƚƌƵĐƚƚŚĞĚŝŶĞƌŝŶĂǁĂǇƚŚĂƚŝƚĐĂŶďĞŵĂĚĞŵŽďŝůĞĂŶĚ ĂƐƐĞŵďůĞĚͬĚŝƐĂƐƐĞŵďůĞĚĂƚŽƚŚĞƌůŽĐĂƚŝŽŶƐ͘dŚĞŝŶƚĞŶƚŽĨƚŚĞƉƌŽũĞĐƚ ŝƐƚŽƉƌĞƐĞƌǀĞƚŚĞĚŝŶĞƌǁŚŝůĞĂůƐŽƉƌŽǀŝĚŝŶŐŚŝƐƚŽƌŝĐĞĚƵĐĂƚŝŽŶĨŽƌ ǀŝƐŝƚŽƌƐ͘dŚĞƌĞǁŽƵůĚďĞŵŽĚĞƐƚĐŽŶĐĞƐƐŝŽŶƐĞƌǀŝĐĞƐƉƌŽǀŝĚĞĚƐƵĐŚĂƐ ŝĐĞĐƌĞĂŵ͘^ŝŵŝůĂƌƚŽĂĐŽŶĐĞƐƐŝŽŶŽƉĞƌĂƚŝŽŶ͕ĂůůŶĞĞĚĞĚƵƚŝůŝƚŝĞƐǁŝůůďĞ ƐĞůĨͲĐŽŶƚĂŝŶĞĚ͘Dƌ͘,ĞǁŝƚƚŚĂƐƐĞĐƵƌĞĚƉĞƌŵŝƐƐŝŽŶƚŽĂƐƐĞŵďůĞƚŚĞĚŝŶĞƌ ƚŚ ŽŶƉƌŽƉĞƌƚǇŽǁŶĞĚďǇ,ĞůĞŶZŽůĂŶĚĂŶĚůŽĐĂƚĞĚĂƚƚŚĞĐŽƌŶĞƌŽĨϰ^ƚ Ɛƚ ĂŶĚϭǀĞ^t;ĐƵƌƌĞŶƚůǇĂƉĂƌŬŝŶŐůŽƚͿ͘dŚĞƐƚƌƵĐƚƵƌĞǁŽƵůĚďĞ ĚŝƐĂƐƐĞŵďůĞĚĂƚƚŚĞĞŶĚŽĨƐƵŵŵĞƌ͘dŚŝƐŝƐĂƉƌŽŽĨŽĨĐŽŶĐĞƉƚƉƌŽũĞĐƚ ƐŽĨƵƚƵƌĞĂƐƐĞŵďůǇůŽĐĂƚŝŽŶƐǁŝůůŶĞĞĚƚŽďĞĂĚĚƌĞƐƐĞĚŽŶĂƐĞĂƐŽŶďǇ ƐĞĂƐŽŶďĂƐŝƐ͘ tŚŝůĞƵŝůĚŝŶŐ^ĂĨĞƚǇŚĂƐĂƐĞĂƐŽŶĂůƉĞƌŵŝƚƉƌŽĐĞƐƐ͕ƚŚŝƐƉƌŽũĞĐƚĚŽĞƐŶŽƚ ĨĂůůŶĞĂƚůǇŝŶƚŽƚŚĂƚĐĂƚĞŐŽƌǇ͘ĞĨŽƌĞƐƚĂĨĨŝŶǀĞƐƚƐƚŽŽŵƵĐŚƚŝŵĞĐƌĞĂƚŝŶŐ ĂĐĂƚĞŐŽƌǇĂŶĚůĂŶŐƵĂŐĞƚŽƐƵƉƉŽƌƚƚŚĞŝŶƚĞŶĚĞĚƵƐĞ͕/ǁŽƵůĚĂƐŬƚŚĂƚǁĞ ĐŽŶƐŝĚĞƌĂƐŽƌƚŽĨƚĞŵƉŽƌĂƌǇƉĞƌŵŝƚƚŽĂůůŽǁƚŚĞƉƌŽũĞĐƚƚŽƉƌŽĐĞĞĚ͘/ ďĞůŝĞǀĞƚŚŝƐǁŝůůĞŶĐŽƵƌĂŐĞƚŚĞƐĞƐŽƌƚƐŽĨŝŶŶŽǀĂƚŝǀĞŝĚĞĂƐ͘ ^ĞĞĂƚƚĂĐŚŵĞŶƚƐĨŽƌŵŽƌĞĚĞƐĐƌŝƉƚŝŽŶŽĨƚŚĞƉƌŽƉŽƐĞĚƉƌŽũĞĐƚ͘ ĂƚĞZĞĐĞŝǀĞĚďǇŝƚǇĚŵŝŶŝƐƚƌĂƚŝŽŶ͗ ;&ŽƌŵŵƵƐƚďĞƌĞĐĞŝǀĞĚďǇƚŚĞĂĚŵŝŶŝƐƚƌĂƚŝŽŶŽĨĨŝĐĞďǇŶŽŽŶŽŶƚŚĞtĞĚŶĞƐĚĂǇƉƌŝŽƌƚŽƚŚĞĐŽƵŶĐŝůŵĞĞƚŝŶŐǇŽƵ ǁŝƐŚƚŚĂƚƚŚĞŝƚĞŵďĞďƌŽƵŐŚƚĨŽƌǁĂƌĚͿ ĂƚĞŽĨŝƚǇŽƵŶĐŝůDĞĞƚŝŶŐ͗ 3DFNHW3J 'D >ŽŐĂďŝŶ'ƌŝůůWƌĞƐĞƌǀĂƚŝŽŶWƌŽƉŽƐĂů 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KŶĞͲĚĂǇŵĞĞƚŝŶŐƐͬƐŽĐŝĂůĞǀĞŶƚƐϴϰ x dƌĂĚĞƐŚŽǁͬƉƵďŝĐĐŽŶƐƵŵĞƌƐŚŽǁƐϮϴ 3DFNHW3J (D ^W/&/d/KE^EZYh/ZDEd^ ^ĐŽƉĞŽĨtŽƌŬ ϭ͘dŚĞWƌŽƉŽƐĞƌǁŝůůƉƌŽǀŝĚĞĂůůƐŽĨƚĚƌŝŶŬƐ;ŝŶĂůůĨŽƌŵƐƌĞƋƵŝƌĞĚͿ͕ƐĞƌǀŝŶŐĞƋƵŝƉŵĞŶƚ͕ǀĞŶĚŝŶŐ ŵĂĐŚŝŶĞƐ͕ĨŽƵŶƚĂŝŶŵĂĐŚŝŶĞƐ͕ǀĞŶĚŝŶŐĐĂƌƚƐĂŶĚĞƋƵŝƉŵĞŶƚŵĂŝŶƚĞŶĂŶĐĞ͘KƌĚĞƌƐǁŝůůďĞĂǀĂŝůĂďůĞ ĨŽƌĚĞůŝǀĞƌǇĂƚůĞĂƐƚƚǁŝĐĞǁĞĞŬůǇĂŶĚĂƐĂŐƌĞĞĚƵƉŽŶ͘ Ϯ͘dŚĞWƌŽƉŽƐĞƌǁŝůůďĞĂǀĂŝůĂďůĞϮϰŚŽƵƌƐĂĚĂǇ͕ϳĚĂǇƐĂǁĞĞŬĨŽƌƐĞƌǀŝĐĞĐĂůůƐƚŽŵĂŝŶƚĂŝŶƐǇƐƚĞŵƐ͘ ŽŶĞͲŚŽƵƌƌĞƐƉŽŶƐĞƚŝŵĞŝƐĞǆƉĞĐƚĞĚ͘dŚĞWƌŽƉŽƐĞƌǁŝůůŵĂŝŶƚĂŝŶƚŚĞĞƋƵŝƉŵĞŶƚŝŶƐĂĨĞ͕ĐůĞĂŶĂŶĚ ƉƌŽƉĞƌǁŽƌŬŝŶŐĐŽŶĚŝƚŝŽŶ͕ĂƚŶŽĐŽƐƚƚŽKǁŶĞƌ͘ůůĞƋƵŝƉŵĞŶƚŵƵƐƚďĞŶĞǁ͕ĂŶĚƚŚĞŵŽƐƚƵƉͲƚŽͲ ĚĂƚĞŵŽĚĞů͘ ϯ͘EŽƉƌŽĚƵĐƚƐƐŚĂůůĐŽŶƚĂŝŶĂůĐŽŚŽů͘ ϰ͘dŚĞWƌŽƉŽƐĞƌĂŶĚĚĞƐŝŐŶĂƚĞĚDƐƚĂĨĨǁŝůůŵĞĞƚĂŶĚĂŐƌĞĞƵƉŽŶƚŚĞŝƚĞŵƐƚŽďĞƐƵƉƉůŝĞĚ͘dŚĞ WƌŽƉŽƐĞƌǁŝůůƵƉĚĂƚĞDƐƚĂĨĨŽĨŶĞǁƉƌŽĚƵĐƚƐĂǀĂŝůĂďůĞ͘EŽĂĚĚŝƚŝŽŶĂůŝƚĞŵƐŵĂǇďĞŝŵƉůĞŵĞŶƚĞĚ ǁŝƚŚŽƵƚƉĞƌŵŝƐƐŝŽŶŽĨƚŚĞDŝƌĞĐƚŽƌŽƌDĂŶĂŐŝŶŐŝƌĞĐƚŽƌ͘ ϱ͘dŽĂǀŽŝĚƐŚŽƌƚĂŐĞƐ͕ŽƵƚĂŐĞƐĂŶĚďĂĐŬŽƌĚĞƌƐ͕ƚŚĞWƌŽƉŽƐĞƌƐŚĂůůŵĂŝŶƚĂŝŶƐƵĨĨŝĐŝĞŶƚŝŶǀĞŶƚŽƌǇĂƚ ƚŚĞWƌŽƉŽƐĞƌ͛ƐĚĞƐŝŐŶĂƚĞĚDůŽĐĂƚŝŽŶ͘WƌŽƉŽƐĞƌƐŚĂůůŚĂǀĞĂŶŽƌĚĞƌͲĨŝůůƌĂƚĞŽĨϵϴйŽƌďĞƚƚĞƌ͘ ϲ͘dŚĞWƌŽƉŽƐĞƌŝƐƌĞƐƉŽŶƐŝďůĞĨŽƌƌĞƉĂǇŵĞŶƚĂŶĚƌĞƐƚŽĐŬŝŶŐŽĨƌĞƚƵƌŶĞĚƐŚŝƉŵĞŶƚƐƐĞŶƚƉƌŝŽƌƚŽ ŽƌĚĞƌŝŶŐ͘ ϳ͘KǁŶĞƌƌĞƐĞƌǀĞƐƚŚĞƌŝŐŚƚƚŽĚĞƚĞƌŵŝŶĞĨŝŶĂůƌĞƚĂŝůƐĞůůŝŶŐƉƌŝĐĞ͘ ϴ͘ůůĞƋƵŝƉŵĞŶƚĂŶĚŝŶǀĞŶƚŽƌǇŵƵƐƚďĞŝŶƉůĂĐĞďǇ:ĂŶƵĂƌǇϭ͕ϮϬϭϴ͘ ϵ͘KǁŶĞƌĂŐƌĞĞƐƚŽƉƌŽǀŝĚĞĂůůƵƚŝůŝƚŝĞƐƚŽŽƉĞƌĂƚĞƚŚĞĞƋƵŝƉŵĞŶƚƚŽĂƉŽŝŶƚǁŝƚŚĨŝǀĞĨĞĞƚŽĨĞĂĐŚ ŝƚĞŵƌĞƋƵŝƌŝŶŐĂƉŽǁĞƌƐŽƵƌĐĞŽƌůŝŶĞ͘ ϭϬ͘dŚĞWƌŽƉŽƐĞƌŵƵƐƚƉƌŽǀŝĚĞĂĚĞƐĐƌŝƉƚŝŽŶŽĨĂůůĞƋƵŝƉŵĞŶƚǁŝƚŚŝŶƚŚĞƉƌŽƉŽƐĂůŝŶĐůƵĚŝŶŐŵĂŬĞ͕ ŵŽĚĞů͕ĂŐĞ͕ƐŝǌĞĂŶĚĐĂƉĂĐŝƚǇ͘ůůǀĞŶĚŝŶŐŵĂĐŚŝŶĞƐŵƵƐƚďĞĂďůĞƚŽĂĐĐĞƉƚΨϭĂŶĚΨϱďŝůůƐ͕ĐŽŝŶƐ͕ ĂŶĚĐƌĞĚŝƚͬĚĞďŝƚĐĂƌĚƐ͘ ϭϭ͘WƌŽŵŽƚŝŽŶĂůĞǆĂŵƉůĞƐĐŽƵůĚŝŶĐůƵĚĞ͕ďƵƚĂƌĞŶŽƚůŝŵŝƚĞĚƚŽ͗ ĂͿƵĚŝƚŽƌŝƵŵ>ŝŶĚŽŽƌƐĐŽƌĞďŽĂƌĚƐǁŝƚŚƚĞĂŵŶĂŵĞĚŝƐƉůĂǇĂŶĚϰƐĐŽƌĞƌƐ͛ƚĂďůĞƐ;ƌĞŶĂͲϮ͕ ƵĚŝƚŽƌŝƵŵʹϮͿ ďͿ^ƚĂĨĨƵŶŝĨŽƌŵƐ ĐͿZĂĚŝŽ͕ƉƌŝŶƚ͕ƚĞůĞǀŝƐŝŽŶĂŶĚƉĂĐŬĂŐĞĂĚǀĞƌƚŝƐŝŶŐ ĚͿWŽƌƚĂďůĞďĂƌƐ ĞͿǀĞŶƚƐƉŽŶƐŽƌƐŚŝƉ 3DFNHW3J (D D/^>>EKh^dZD^EKE/d/KE^ dŚŝƐĐŽŶƚƌĂĐƚǁŝůůďĞĨŽƌƚŚĞĞǆĐůƵƐŝǀĞƐĂůĞƐŽĨĨŽƵŶƚĂŝŶĂŶĚďŽƚƚůĞĚƐŽĨƚĚƌŝŶŬƉƌŽĚƵĐƚƐ͘ ůůWƌŽƉŽƐĞƌƐŵƵƐƚĐŽŵŵŝƚƚŽƚŚĞŝƌƉƌŽƉŽƐĂůƐƌĞŵĂŝŶŝŶŐŝŶĨŽƌĐĞĨŽƌϵϬĚĂǇƐĂĨƚĞƌƌĞĐĞŝƉƚŽƌƵŶƚŝů 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ƵƐƚŽŵĞƌ^ĞƌǀŝĐĞZĞƉƌĞƐĞŶƚĂƚŝǀĞƚŽŵĂŬĞĐŚĂŶŐĞƐŽŶĐƵƐƚŽŵĞƌƐ͛ĂĐĐŽƵŶƚƐ͘ ϯ͘ZWhǁŝůůƐƚĂĨĨĂĨƵůůƚŝŵĞŽŵŵĞƌĐŝĂůƵƐƚŽŵĞƌ^ĞƌǀŝĐĞZĞƉƌĞƐĞŶƚĂƚŝǀĞ͘ x ZĞƐƉŽŶƐŝďůĞĨŽƌŽŵŵĞƌĐŝĂůDŽǀĞ/ŶƐͬKƵƚƐ͕ƵƉĚĂƚŝŶŐĐƵƐƚŽŵĞƌĂĐĐŽƵŶƚƐ͕ŶŽƚŝĨǇŝŶŐ ĐƵƐƚŽŵĞƌƐŽĨďŝůůŝŶŐĐŚĂŶŐĞƐ͕ĂŶƐǁĞƌŝŶŐďĂƐŝĐ^th&ƋƵĞƐƚŝŽŶƐ͕ĂŶĚǁŽƌŬǁŝƚŚƚŚĞ ZWh'/^^ƉĞĐŝĂůŝƐƚ͘ ϰ͘ZWhǁŝůůďĞƌĞƐƉŽŶƐŝďůĞĨŽƌŚĂŶĚůŝŶŐĐƵƐƚŽŵĞƌŝŶƋƵŝƌŝĞƐǁŚŝĐŚŝŶĐůƵĚĞĚĞƐĐƌŝďŝŶŐ^th&͕ŝƚƐ ŽƌŝŐŝŶ͕ĞƚĐ͘ ϱ͘ZWhǁŝůůĐŽŽƉĞƌĂƚĞǁŝƚŚZWtŝŶĐŽŽƌĚŝŶĂƚŝŽŶŽĨĞĨĨŽƌƚƐƌĞƋƵŝƌĞĚĨŽƌĂĐĐƵƌĂƚĞĂŶĚƚŝŵĞůǇ ďŝůůŝŶŐŽĨ^ƚŽƌŵtĂƚĞƌ&ĞĞƐ͘ )D ϲ͘ZWhǁŝůůƚƌĂĐŬĂŶĚƌĞƉŽƌƚƚŚĞĨŽůůŽǁŝŶŐŵĞƚƌŝĐƐƚŽƚŚĞŝƌĞĐƚŽƌŽĨWƵďůŝĐtŽƌŬƐŽŶĂƉĞƌŝŽĚŝĐ ďĂƐŝƐ͗ ϭͿZƵŶĂŵŽŶƚŚůǇƋƵĞƌǇǁŝƚŚŝŶĂǇĞŶƚĂƚŽĞŶƐƵƌĞŶŽƉĂƌĐĞůƐƐŚŽǁƵƉǁŝƚŚŽƵƚĨĞĞƐ͘dŚĞƌĞ ƐŚŽƵůĚďĞǌĞƌŽ͘ ϮͿZƵŶŵŽŶƚŚůǇĐŽŵƉĂƌŝƐŽŶďĞƚǁĞĞŶĂǇĞŶƚĂĂŶĚƚŚĞŽƵŶƚǇĚĂƚĂďĂƐĞĂŶĚƌĞƉŽƌƚƚŚĞ ŶƵŵďĞƌŽĨĚŝĨĨĞƌĞŶĐĞƐǁŚĞƚŚĞƌĂĚĚĞĚŽƌƌĞŵŽǀĞĚ͘ ϯͿdƌĂĐŬĂŶĚƌĞƉŽƌƚŽŶŵŽŶƚŚůǇƉƌŽƉĞƌƚǇŽǁŶĞƌƐŚŝƉĐŚĂŶŐĞƐ;ĞǆĐůƵĚŝŶŐƚŚĞŵŽŶƚŚƐƚŚĞ ŽƵŶƚǇĨƌĞĞǌĞƐƚŚĞŝƌĚĂƚĂďĂƐĞͿ͘ůŝŐŶĐŚĂŶŐĞƐǁŝƚŚŝŶĂǇĞŶƚĂ͘ ϰͿŽŶƚŝŶƵĞĚƌĞƉŽƌƚŝŶŐŽĨŵŽŶƚŚůǇƌĞǀĞŶƵĞƐĂƐƉĂƌƚŽĨďŝůůŝŶŐ͘ ϱͿdƌĂĐŬĂŶĚƌĞƉŽƌƚŽŶƚŚĞŶƵŵďĞƌŽĨƉĂƌĐĞůĐŚĂŶŐĞƐ;Ğ͘Ő͘ŝŵƉĞƌǀŝŽƵƐ͕ƐŝǌĞͿĂŶĚƚŚĞ ĂƐƐŽĐŝĂƚĞĚĨĞĞƐ͘ ϲͿZĞƉŽƌƚŽŶƚŚĞŶƵŵďĞƌŽĨĂŶŶƵĂůĚŝŐŝƚŝǌĞĚĐŚĂŶŐĞƐ͘ ϳͿdƌĂĐŬĐĂůůǀŽůƵŵĞŽĨĐƵƐƚŽŵĞƌĐĂůůƐƚŽŽŵŵĞƌĐŝĂůƵƐƚŽŵĞƌ^ĞƌǀŝĐĞZĞƉƌĞƐĞŶƚĂƚŝǀĞ͘ ϴͿZWhƉĞƌƐŽŶŶĞůĂĐĐƵƌĂƚĞůǇƚƌĂĐŬƚŝŵĞĚĞǀŽƚĞĚƚŽ^ƚŽƌŵtĂƚĞƌhƚŝůŝƚǇĂĐƚŝǀŝƚŝĞƐƵƐŝŶŐ/Kη ;ŝŶƚĞƌŶĂůŽƌĚĞƌŶƵŵďĞƌͿ͘ ϵͿdŚĞŶƵŵďĞƌŽĨĞƌƌŽƌĐŽƌƌĞĐƚŝŽŶƐŵĂĚĞĂŶĚƚŚĞŝƌĐĂƵƐĞƐƵĐŚĂƐ͗ Ă͘/ŶĐŽƌƌĞĐƚŝŵƉĞƌǀŝŽƵƐĂƌĞĂ ď͘/ŶĐŽƌƌĞĐƚĐƵƐƚŽŵĞƌďĞŝŶŐďŝůůĞĚ )D ZĞƐƉŽŶƐŝďŝůŝƚŝĞƐŽĨZŽĐŚĞƐƚĞƌWƵďůŝĐtŽƌŬƐ;ZWtͿ ϭ͘ZWtǁŝůůĐŽŶƚŝŶƵĞƚŽƉƌŽĐĞƐƐĂŶĚŵĂŶĂŐĞ^th&ĐƌĞĚŝƚĂƉƉůŝĐĂƚŝŽŶƐ͕ĂƐǁĞůůĂƐƌĞǀŝĞǁƐ ĂŶĚŝŶƐƉĞĐƚŝŽŶƐ͘ Ϯ͘ZWtǁŝůůĐŽŶƚŝŶƵĞƚŽƌĞǀŝĞǁŐƌĂĚŝŶŐƉůĂŶƐĨŽƌŶĞǁĚĞǀĞůŽƉŵĞŶƚƐ͕ĞƚĐ͘ ϯ͘ZWtǁŝůůŵĂŝŶƚĂŝŶƚŚĞŽƌĚŝŶĂŶĐĞ͘ ϰ͘ZWtǁŝůůďĞƌĞƐƉŽŶƐŝďůĞĨŽƌ^ƚŽƌŵtĂƚĞƌŽƵƚƌĞĂĐŚĂŶĚĞĚƵĐĂƚŝŽŶ͘ ϱ͘ZWtǁŝůůĐŽŽƉĞƌĂƚĞǁŝƚŚZWhŝŶĐŽŽƌĚŝŶĂƚŝŽŶŽĨĞĨĨŽƌƚƐƌĞƋƵŝƌĞĚĨŽƌĂĐĐƵƌĂƚĞĂŶĚƚŝŵĞůǇ ďŝůůŝŶŐŽĨ^ƚŽƌŵtĂƚĞƌ&ĞĞƐ͘ ϲ͘dŚĞŝƌĞĐƚŽƌŽĨWƵďůŝĐŽƌŚŝƐͬŚĞƌĚĞƐŝŐŶĞĞǁŝůůďĞƌĞƐƉŽŶƐŝďůĞĨŽƌƌĞǀŝĞǁŝŶŐĂŶĚ ĂƉƉƌŽǀŝŶŐĂůůďŝůůŝŶŐĂĚũƵƐƚŵĞŶƚƐĂŶĚĐƌĞĚŝƚƐ͘/ŶƚŚĞŝŶƚĞƌĞƐƚŽĨĞĨĨŝĐŝĞŶƚƉƌŽĐĞƐƐĨůŽǁ͕ ZWhƌĞĐŽŵŵĞŶĚƐƚŚĂƚƚŚĞŝƌĞĐƚŽƌŽĨWƵďůŝĐtŽƌŬƐĚĞƐŝŐŶĂƚĞƐƚŚĞZWhŽŶƚƌŽůůĞƌǁŝƚŚ ƚŚĞĂƵƚŚŽƌŝƚǇƚŽƌĞǀŝĞǁĂŶĚĂƉƉƌŽǀĞĂůůďŝůůŝŶŐĂĚũƵƐƚŵĞŶƚƐĂŶĚĐƌĞĚŝƚƐ͘ ŝůůŝŶŐĂƐƐƵŵƉƚŝŽŶƐ͗ ϭ͘ZWhǁŝůůďŝůůƚŚĞƉƌŽƉĞƌƚǇͲŽǁŶĞƌŽĨƌĞĐŽƌĚƉĞƌKůŵƐƚĞĚŽƵŶƚǇWƌŽƉĞƌƚǇZĞĐŽƌĚƐΘ >ŝĐĞŶƐŝŶŐĞƉĂƌƚŵĞŶƚĂŶĚǁŝůůĐŚĂŶŐĞƚŚĞŽǁŶĞƌŽĨƌĞĐŽƌĚŽŶůǇǁŚĞŶKůŵƐƚĞĚŽƵŶƚǇ WƌŽƉĞƌƚǇZĞĐŽƌĚƐŝŶĚŝĐĂƚĞƐĂĐŚĂŶŐĞ͘ŶǇĚŝƐƉƵƚĞƐŽǀĞƌƌĞƐƉŽŶƐŝďŝůŝƚǇĨŽƌďŝůůƉĂǇŵĞŶƚ ĚƵƌŝŶŐĂŶŽǁŶĞƌƐŚŝƉƚƌĂŶƐŝƚŝŽŶǁŝůůŶĞĞĚƚŽďĞŚĂŶĚůĞĚďĞƚǁĞĞŶƚŚĞƉƌĞǀŝŽƵƐĂŶĚ ĐƵƌƌĞŶƚŽǁŶĞƌ͘ Ϯ͘ZWhǁŝůůǁŽƌŬǁŝƚŚZWtƚŽĚĞǀĞůŽƉƚŚƌĞƐŚŽůĚƐŽŶƉĂƌĐĞůĐŚĂŶŐĞƐĂƐƚŽǁŚĞŶĂĐƌĞĚŝƚ ƐŚŽƵůĚďĞĐĂůĐƵůĂƚĞĚĂŶĚŝƐƐƵĞĚ͘ ϯ͘ƌĞĚŝƚƐǁŝůůŐŽďĂĐŬĂŵĂǆŝŵƵŵŽĨƐŝǆŵŽŶƚŚƐ͘ /ŵƉůĞŵĞŶƚĂƚŝŽŶƌĞƋƵŝƌĞŵĞŶƚƐƚŽŵŽǀĞƚŽĂƉƌŽƉĞƌƚǇŽǁŶĞƌďĂƐĞĚďŝůůŝŶŐ͗ ϭ͘ZWh'/^ǁŝůůƌƵŶĂĐŽŵƉĂƌŝƐŽŶďĞƚǁĞĞŶ'/^ͬŽƵŶƚǇĚĂƚĂĂŶĚZWh͛ƐĐƵƌƌĞŶƚ^WƐǇƐƚĞŵ ƚŽŝĚĞŶƚŝĨǇƉƌŽƉĞƌƚǇŽǁŶĞƌƐĂŶĚƚĞŶĂŶƚƐ͘ Ϯ͘tŚĞƌĞĂƉƉůŝĐĂďůĞZWhƵƐƚŽŵĞƌ^ĞƌǀŝĐĞǁŝůůŶŽƚŝĨǇƉƌŽƉĞƌƚǇŽǁŶĞƌƐŽĨƚŚĞĐŚĂŶŐĞŝŶ ƌĞƐƉŽŶƐŝďŝůŝƚǇĨŽƌďŝůůŝŶŐĨƌŽŵƚĞŶĂŶƚƐƚŽƉƌŽƉĞƌƚǇŽǁŶĞƌƐ͘ &ĞĞƐĨŽƌƵƐƚŽŵĞƌĐĐŽƵŶƚŝůůŝŶŐ͕DĂŶĂŐĞŵĞŶƚĂŶĚ^ƵƉƉŽƌƚ )D 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ďƵƐŝŶĞƐƐĞƐŝŶƚŚĞĂƌĞĂ͘ DƐ͘DĐ'ŝůůŝǀƌĂǇ Ͳ ZŝǀĂƐĞǆƉůĂŝŶĞĚƚŚĞĨƵƚƵƌĞĚĞǀĞůŽƉŵĞŶƚŽĨĐŽŶŶĞĐƚŝŽŶŝŶƚŚĞĚĞǀĞůŽƉŵĞŶƚĂŐƌĞĞŵĞŶƚ ŝŶĐůƵĚŝŶŐĂďƵƐƐƚŽƉ͘ Dƌ͘EĂƚĞ^ƚĞŶĐŝů͕ϲϱϮϬůĂƌŬŝĂƌŝǀĞEt͕ZŽĐŚĞƐƚĞƌDE͕ĂĚĚƌĞƐƐĞĚƚŚĞŽŵŵŝƐƐŝŽŶ͘,ĞŶŽƚĞĚŚŝƐ ĞǆĐŝƚĞŵĞŶƚĨŽƌŵŽǀŝŶŐĨŽƌǁĂƌĚƚŚŝƐƚǇƉĞŽĨŚŽƵƐŝŶŐƉƌŽũĞĐƚŝŶƚŚĞůŽĐĂƚŝŽŶŶŽƚĞĚ͖ďƌŝŶŐŝŶŐĂĨĨŽƌĚĂďůĞ ŚŽƵƐŝŶŐƚŽƚŚĞĂƌĞĂƚŽŚĞůƉǁŝƚŚƚŚĞƐĞƌŝŽƵƐƉƌŽďůĞŵŝŶƚŚĞĂƌĞĂ͖ĚĞƐĐƌŝďĞĚƚŚĞǀĂƌŝĞƚǇŽĨůĂǇŽƵƚƐŽĨƚŚĞ ĂƉĂƌƚŵĞŶƚƐĂŶĚĚĞƐĐƌŝďĞĚƚŚĞĨƵŶĚŝŶŐƐŽƵƌĐĞƐŽĨƚŚĞƉƌŽũĞĐƚ͘ DƐ͘>ĞƐůŝĞDĐ'ŝůůŝǀƌĂǇ Ͳ ZŝǀĂƐ͕ĐŽŶƐƵůƚĂŶƚǁŝƚŚt^͕ϭϲϰϴdŚŝƌĚǀĞŶƵĞ^͕ZŽĐŚĞƐƚĞƌ͕DE͕ĂĚĚƌĞƐƐĞĚƚŚĞ ŽŵŵŝƐƐŝŽŶ͘^ŚĞŶŽƚĞĚƚŚĞŶĞĞĚĨŽƌƚŚĞĂĨĨŽƌĚĂďůĞŚŽƵƐŝŶŐŝŶƚŚĞĂƌĞĂ͖ƐĞƚƚŝŶŐĂŶĞǆĂŵƉůĞƚŽŽƚŚĞƌ ĚĞǀĞůŽƉĞƌƐƚŽďĞƉůĂĐĞĚŝŶĂŶZ Ͳ ϯǌŽŶŝŶŐ͖ĂŶĚŚŽǁƚŚŝƐĚĞǀĞůŽƉŵĞŶƚǁŽƵůĚďĞĐŽŵƉůŝŵĞŶƚĂƌǇƚŽƚŚĞ ĂƌĞĂ͘ tŝƚŚŶŽŽŶĞĞůƐĞǁŝƐŚŝŶŐƚŽďĞŚĞĂƌĚ͕DƐ͘DĞĞŬĐůŽƐĞĚƚŚĞƉƵďůŝĐŚĞĂƌŝŶŐ͘ ŝƐĐƵƐƐŝŽŶĞŶƐƵĞĚĂŵŽŶŐƚŚĞŽŵŵŝƐƐŝŽŶƌĞŐĂƌĚŝŶŐƚŚĞƉƌŽƉŽƐĞĚĚĞǀĞůŽƉŵĞŶƚŵĞĞƚŝŶŐƚŚĞĐƌŝƚĞƌŝĂŽŶ ŶŽƚĂďůĞƚŽŵĞĞƚƚŚĞŐĞŶĞƌĂůĐŽŵƉĂƚŝďŝůŝƚǇŽĨƚŚĞƐƵƌƌŽƵŶĚŝŶŐŶĞŝŐŚďŽƌŚŽŽĚ͖ƚŚĞŶĞĞĚĨŽƌĂĨĨŽƌĚĂďůĞ ŚŽƵƐŝŶŐŝŶƚŚĞĐŽŵŵƵŶŝƚǇǁĂƐĂĚĚƌĞƐƐĞĚĂƐƚŚŝƐƉƌŽũĞĐƚǁŽƵůĚƉƌŽǀŝĚĞƚŽƚŚŝƐŶĞĞĚ͘ *K ŝƚǇWůĂŶŶŝŶŐĂŶĚŽŶŝŶŐŽŵŵŝƐƐŝŽŶDŝŶƵƚĞƐ,ĞĂƌŝŶŐĂƚĞ͗DĂǇϮϰ͕ϮϬϭϳ WůĂŶŶŝŶŐƐƚĂĨĨƌĞĂĚĂůŝƐƚŽĨƵƐĞƐĂĐĐĞƉƚĂďůĞŝŶƚŚĞ/ŶĚƵƐƚƌŝĂůĂƌĞĂ͘ Dƌ͘,ŝůůĨĞůƚƌĂƚĞǀĂůƵĞƐŚŽƵůĚďĞĞǀĂůƵĂƚĞĚŝŶƚŚĞĚĞĐŝƐŝŽŶ͖ĂŶĚƚŚĞŚŝŐŚĞƐƚĂŶĚďĞƐƚƵƐĞŽĨƚŚĞƉƌŽƉĞƌƚǇ ƉƌŽƉŽƐĞĚŵĂŬĞƐƐĞŶƐĞĨŽƌƚŚŝƐůŽĐĂƚŝŽŶ͘ ŝƐĐƵƐƐŝŽŶĐŽŶƚŝŶƵĞĚŽŶƵƐĞƐĞǆŝƐƚŝŶŐŝŶƚŚĞD Ͳ ϮĂƌĞĂĂŶĚƚŚĞƉŽƐƐŝďŝůŝƚǇŽĨĨƵƚƵƌĞďƵƐŝŶĞƐƐĞƐůŽĐĂƚŝŶŐ ŶĞĂƌƚŚĞĂƉĂƌƚŵĞŶƚĚĞǀĞůŽƉŵĞŶƚ͕ŝĨĂƉƉƌŽǀĞĚ͘ Dƌ͘tĂůƚĞƌƐŵŽǀĞĚƚŽƌĞĐŽŵŵĞŶĚĚĞŶŝĂůŽĨZĞƐƚƌŝĐƚĞĚĞǀĞůŽƉŵĞŶƚWƌĞůŝŵŝŶĂƌǇWůĂŶͲŽŶĚŝƚŝŽŶĂů hƐĞWĞƌŵŝƚηZϮϬϭϳ Ͳ ϬϭϳhWǁŝƚŚƚŚĞƐƚĂĨĨ Ͳ ƌĞĐŽŵŵĞŶĚĞĚĨŝŶĚŝŶŐƐǁŝƚŚĂŶĂĚĚŝƚŝŽŶĂůĨŝŶĚŝŶŐƌŝƚĞƌŝĂ ŽĨƉƵďůŝĐĨĂĐŝůŝƚŝĞƐŝƐŶŽƚŵĞƚďĂƐĞĚŽŶƚŚĞŽƉŝŶŝŽŶƚŚĂƚƉĂƌŬƐĂƌĞĂƉƵďůŝĐĨĂĐŝůŝƚǇĂŶĚŝƐŶŽƚŵĞƚ ĂŶĚĂƌĞŶŽƚĂĐĐĞƐƐŝďůĞĨƌŽŵƚŚŝƐƐŝƚĞ͘dŚĞŵŽƚŝŽŶĨĂŝůƐůĂĐŬŽĨĂƐĞĐŽŶĚ Dƌ͘,ŝůůĐŽŵŵĞŶƚĞĚŽŶƚŚĞƐĐĞŶĂƌŝŽŝĨƚŚĞƉƌŽũĞĐƚŝƐĂƉƉƌŽǀĞĚĂŶĚďƵŝůƚ͖ĂŶĚƚŚĞŶƚŚĞǁŽƌƐƚĐĂƐĞ ƐĐĞŶĂƌŝŽŚĂƉƉĞŶĞĚŶĞǆƚĚŽŽƌ͖ĂŶĚŶŽŽŶĞŵŽǀĞĚƚŚĞƌĞ͖ŚĞŶŽƚĞĚƚŚŝƐǁŽƵůĚďĞƚŚĞĞǆĂĐƚůŽĐĂƚŝŽŶĨŽƌ ƚŚŝƐƚǇƉĞŽĨĚĞǀĞůŽƉŵĞŶƚ͘ Dƌ͘'ŽŽĚĞŶďĞƌŐĞƌŵŽǀĞĚƚŽƌĞĐŽŵŵĞŶĚĚĞŶŝĂůŽĨZĞƐƚƌŝĐƚĞĚĞǀĞůŽƉŵĞŶƚWƌĞůŝŵŝŶĂƌǇWůĂŶͲ ŽŶĚŝƚŝŽŶĂůhƐĞWĞƌŵŝƚηZϮϬϭϳ Ͳ ϬϭϳhWǁŝƚŚƚŚĞƐƚĂĨĨ Ͳ ƌĞĐŽŵŵĞŶĚĞĚĨŝŶĚŝŶŐƐ͘Dƌ͘tĂůƚĞƌƐ ƐĞĐŽŶĚĞĚƚŚĞŵŽƚŝŽŶ͘dŚĞŵŽƚŝŽŶĨĂŝůĞĚϯ Ͳ ϰ͘Dƌ͘ĂƐƚƌŽ͕Dƌ͘,ŝůů͕DƐ͘^ĞĂďƌŽŽŬ͕ĂŶĚDƐ͘tŝůƐŽŶ͘ Dƌ͘,ŝůůŵŽǀĞĚƚŽƌĞĐŽŵŵĞŶĚĂƉƉƌŽǀĂůŽĨZĞƐƚƌŝĐƚĞĚĞǀĞůŽƉŵĞŶƚWƌĞůŝŵŝŶĂƌǇWůĂŶͲŽŶĚŝƚŝŽŶĂů hƐĞWĞƌŵŝƚηZϮϬϭϳ Ͳ ϬϭϳhWďĂƐĞĚŽŶƚŚĞĐƌŝƚĞƌŝĂůƚŚƌŽƵŐŚ>ďĞŝŶŐŵĞƚ͘Dƌ͘ĂƐƚƌŽƐĞĐŽŶĚĞĚƚŚĞ ŵŽƚŝŽŶ͘ ŝƐĐƵƐƐŝŽŶĞŶƐƵĞĚĂŵŽŶŐƚŚĞŽŵŵŝƐƐŝŽŶŽŶǁŚĞƚŚĞƌƚŚĞƉƌŽƉŽƐĞĚĚĞǀĞůŽƉŵĞŶƚŵĞĞƚƐŽƌĚŽĞƐŶŽƚ ŵĞĞƚƌŝƚĞƌŝĂƚŚƌŽƵŐŚ>͘ dŚĞŵŽƚŝŽŶĨĂŝůĞĚϮ Ͳ ϱ͘DƐ͘^ĞĂďƌŽŽŬ͕DƐ͘DĞĞŬ͕DƐ͘tŝůƐŽŶ͕Dƌ͘'ŽŽĚĞŶďĞƌŐĞƌĂŶĚDƌ͘tĂůƚĞƌƐ ǀŽƚŝŶŐŶĂǇ͘ Dƌ͘tĂůƚĞƌƐŵŽǀĞĚƚŽƌĞĐŽŵŵĞŶĚĚĞŶŝĂůŽĨZĞƐƚƌŝĐƚĞĚĞǀĞůŽƉŵĞŶƚWƌĞůŝŵŝŶĂƌǇWůĂŶͲŽŶĚŝƚŝŽŶĂů hƐĞWĞƌŵŝƚηZϮϬϭϳ Ͳ ϬϭϳhWďĂƐĞĚŽŶƐƚĂĨĨƌĞĐŽŵŵĞŶĚĞĚĨŝŶĚŝŶŐƐ͘dŚĞŵŽƚŝŽŶĨĂŝůĞĚůĂĐŬŽĨ ƐĞĐŽŶĚ͘ Dƌ͘'ŽŽĚĞŶďĞƌŐĞƌŵĂĚĞƚŚĞŵŽƚŝŽŶƚŽƌĞ Ͳ ŽƉĞŶƚŚĞƉƵďůŝĐŚĞĂƌŝŶŐ͘Dƌ͘,ŝůůƐĞĐŽŶĚĞĚ͘dŚĞŵŽƚŝŽŶ ĐĂƌƌŝĞĚϱ Ͳ Ϯ͘DƐ͘DĞĞŬĂŶĚDƌ͘tĂůƚĞƌƐǀŽƚŝŶŐŶĂǇ͘ Dƌ͘EĂƚĞ^ƚĞŶĐŝů͕ϲϱϮϬůĂƌŬŝĂƌŝǀĞEt͕ZŽĐŚĞƐƚĞƌDE͕ĂĚĚƌĞƐƐĞĚƚŚĞŽŵŵŝƐƐŝŽŶ͘,ĞĐŽŵŵĞŶƚĞĚŽŶ ƚŚĞĚŝƐĐƵƐƐŝŽŶǁŚŝĐŚƚŽŽŬƉůĂĐĞďǇƚŚĞŽŵŵŝƐƐŝŽŶ͖ŚĞŶŽƚĞĚŚĞŝƐƚŚĞŽŶĞǁŝƚŚƚŚĞĨŝŶĂŶĐŝĂůƌŝƐŬƐ͖ƚŚĞ ŝƚǇŝƐŶŽƚƵŶĚĞƌĂŶǇůŝĂďŝůŝƚǇ͘ DƐ͘>ĞƐůŝĞDĐ'ŝůůŝǀƌĂǇ Ͳ ZŝǀĂƐ͕ĐŽŶƐƵůƚĂŶƚǁŝƚŚt^͕ϭϲϰϴdŚŝƌĚǀĞŶƵĞ^͕ZŽĐŚĞƐƚĞƌ͕DE͕ĂĚĚƌĞƐƐĞĚƚŚĞ ŽŵŵŝƐƐŝŽŶ͘^ŚĞĐŽŵŵĞŶƚĞĚŽŶƚŚĞƌŝƚĞƌŝĂ<ǁŚŝĐŚǁĂƐƌĞǀŝĞǁĞĚĨŽƌŐĞŶĞƌĂůĐŽŵƉĂƚŝďŝůŝƚǇŝŶƚŚĞ ĂƚƚĂĐŚŵĞŶƚƐƐƵďŵŝƚƚĞĚǁŝƚŚƚŚĞĂƉƉůŝĐĂƚŝŽŶĂŶĚŝŶĐůƵĚĞĚŝŶƚŚĞŵĞĞƚŝŶŐƉĂĐŬĞƚ͘ DƐ͘^ĞĂďƌŽŽŬƐƉŽŬĞŽŶĐŽŶƚĞǆƚǀĞƌƐƵƐĐƌŝƚĞƌŝĂǁŚĞŶŵĂŬŝŶŐŝŶĨŽƌŵĞĚĚĞĐŝƐŝŽŶƐŽŶĚĞǀĞůŽƉŵĞŶƚƐ͘ _3DJH 3DFNHW3J *K ŝƚǇWůĂŶŶŝŶŐĂŶĚŽŶŝŶŐŽŵŵŝƐƐŝŽŶDŝŶƵƚĞƐ,ĞĂƌŝŶŐĂƚĞ͗DĂǇϮϰ͕ϮϬϭϳ Dƌ͘'ŽŽĚĞŶďĞƌŐĞƌƐƚĂƚĞĚŚŝƐƵŶĚĞƌƐƚĂŶĚŝŶŐĨŽƌĂƚŚŝƌĚŽƉƚŝŽŶŽĨǀŽƚŝŶŐ͕ďƵƚĨĞĞůƐƚŚĞƉƌŽũĞĐƚĚŽĞƐŶŽƚ ŵĞĞƚƌŝƚĞƌŝĂ<͘ Dƌ͘'ŽŽĚĞŶďĞƌŐĞƌŵŽǀĞĚƚŽƌĞĐŽŵŵĞŶĚĚĞŶŝĂůŽĨZĞƐƚƌŝĐƚĞĚĞǀĞůŽƉŵĞŶƚWƌĞůŝŵŝŶĂƌǇWůĂŶͲ ŽŶĚŝƚŝŽŶĂůhƐĞWĞƌŵŝƚηZϮϬϭϳ Ͳ ϬϭϳhWďĂƐĞĚŽŶƐƚĂĨĨƌĞĐŽŵŵĞŶĚĞĚĨŝŶĚŝŶŐƐ͘Dƌ͘tĂůƚĞƌƐ ƐĞĐŽŶĚĞĚƚŚĞŵŽƚŝŽŶ͘dŚĞŵŽƚŝŽŶϰ Ͳ ϯ͘Dƌ͘ĂƐƚƌŽ͕DƐ͘^ĞĂďƌŽŽŬĂŶĚDƌ͘,ŝůůƐǀŽƚĞĚŶĂǇ͘ KE/d/KE^͗ ϭ͘WƌŝŽƌƚŽĂƉƉƌŽǀĂůŽĨďƵŝůĚŝŶŐƉĞƌŵŝƚƐ͕ƚŚĞĚĞǀĞůŽƉŵĞŶƚƉůĂŶƐƐŚĂůůďĞƌĞǀŝƐĞĚƚŽŝŶĐůƵĚĞƚŚĞ ĨŽůůŽǁŝŶŐ͗ Ă͘dŚĞĂĚĚŝƚŝŽŶŽĨŽŶĞƐĞĂƚƉĞƌϲϬƐƋƵĂƌĞĨĞĞƚŽĨƐƉĂĐĞĂĚũĂĐĞŶƚƚŽƚŚĞĂƌĞĂŝĚĞŶƚŝĨŝĞĚĂƐ͞ŽƉĞŶ ŐƌĞĞŶƉůĂǇĂƌĞĂ͘͟ ď͘dŚĞĂĚĚŝƚŝŽŶŽĨŽŶĞŚǇĚƌĂŶƚŶĞĂƌƚŚĞĞŶƚƌĂŶĐĞŝƐƌĞƋƵŝƌĞĚ͕ǁŚŝĐŚǁŝůůƌĞƐƵůƚŝŶĂƚŽƚĂůŽĨĨŽƵƌ ŽŶƚŚĞƐŝƚĞ͘ 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