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ƚŚĞƵŶŝƚƐŝƚƐĞƌǀĞĚŽƌǁŝƚŚŝŶϮϬϬĨĞĞƚŽĨƚŚĞƉƌŝŶĐŝƉĂůďƵŝůĚŝŶŐƐĞƌǀĞĚ͘tŚĞƌĞĂĚĞƐŝŐŶĂƚĞŐĂƌĂŐĞƐƉĂĐĞŝƐ ĂƐƐŝŐŶĞĚƚŽĞĂĐŚƵŶŝƚ͕ƚĂŶĚĞŵƐƉĂĐĞƐŵĂǇďĞƵƚŝůŝǌĞĚƉƌŽǀŝĚĞĚĂĚĞƋƵĂƚĞƐƉĂĐĞĨŽƌĂŝƐůĞƐĂŶĚĚƌŝǀĞǁĂǇƐ ƐŝƐƌĞƐĞƌǀĞĚ͘ 3DFNHW3J *E ƌĞƐƚŽƌĂƚŝŽŶŝŶƚŚŝƐĚŽǁŶƚŽǁŶ ůŽĐĂƚŝŽŶ͘ Ϭ͘ϳ/ŶĨƵƐĞƚŚĞŝƚǇǁŝƚŚWƵďůŝĐƌƚ WƵďůŝĐĂƌƚŝƐŶŽƚďĞŝŶŐĐŽŶƐŝĚĞƌĞĚŶŽǁ͘ĐŽŵŵĞŶƚĨƌŽŵƚŚĞƉƵďůŝĐŵĞĞƚŝŶŐĚŝĚƐƵŐŐĞƐƚƚŚĂƚ ŵŽǀŝĞƐŵŝŐŚƚďĞƉƌŽũĞĐƚĞĚŽŶƚŚĞďůĂŶŬŶŽƌƚŚĞƌŶǁĂůů͘dŚĞƌĞŝƐŶŽĨŽƌŵĂůƉƌŽŐƌĂŵŝŶŐƉůĂŶŶĞĚĂƚƚŚŝƐ ƚŝŵĞ͘ %XLOGLQJDOHJDF\±OHJDF\ [[1330,3081,1398,3120][8][,I,][Arial]]\RXU (TXDO2SSRUWXQLW\(PSOR\HU_ZVEHQJFRP 3DFNHW3J *E 3DUWQHUV//& 6HSWHPEHU 3DJH Ϭ͘ϴĞǀĞůŽƉDŝǆĞĚhƐĞEĞŝŐŚďŽƌŚŽŽĚƐ WƌŽƉŽƐĞĚƉƌŽũĞĐƚŝŶĐŽƌƉŽƌĂƚĞƐĂŵŝǆĞĚͲƵƐĞƉƌŽŐƌĂŵĨŽƌƚŚĞďƵŝůĚŝŶŐ͘dŚĞŐƌŽƵŶĚĨůŽŽƌůĞǀĞů ŝŶĐůƵĚĞƐϮ͕ϬϬϬƐĨŽĨĐŽŵŵĞƌĐŝĂůƐƉĂĐĞ͕ǁŚŝĐŚǁƌĂƉƐƚŚĞĐŽƌŶĞƌŽĨƚŚĞďƵŝůĚŝŶŐ͘dŚĞƵƉƉĞƌĨůŽŽƌƐǁŽƵůĚ ďĞƌĞƐŝĚĞŶƚŝĂůŵŝĐƌŽĂƉĂƌƚŵĞŶƚƵŶŝƚƐŽĨďŽƚŚϭĂŶĚϮďĞĚƌŽŽŵĂƉĂƌƚŵĞŶƚƐ͘ Ϭ͘ϵWƌŽŵŽƚĞhƌďĂŶƌĐŚŝƚĞĐƚƵƌĞ dŚĞƌŽŽĨĚĞĐŬƉĂƚŝŽǁŝůůŚĂǀĞƉůĂŶƚĞƌƐĂƐƉĂƌƚƚŽƚŚĞĚĞƐŝŐŶ͕ďƵƚƉůĂŶƚŝŶŐƐŽĨĂŶĂŐƌŝĐƵůƚƵƌĂů ŶĂƚƵƌĞĂƌĞŶŽƚƉůĂŶŶĞĚĂƚƚŚŝƐƚŝŵĞ͘ ͘ϭϬƌĞĂƚĞŝƐƚƌŝĐƚWĂƌŬŝŶŐ dŚĞƐŵĂůůƐŝǌĞŽĨƚŚĞƐŝƚĞĚŽĞƐŶŽƚĂůůŽǁĨŽƌĂĚĚŝƚŝŽŶĂůƉĂƌŬŝŶŐďĞǇŽŶĚƚŚĞŵŝŶŝŵƵŵƌĞƋƵŝƌĞĚĨŽƌ ƚŚĞďƵŝůĚŝŶŐ͛ƐƵƐĞ͘ ͘ϭϭƌĞĂƚĞ^ƵƐƚĂŝŶĂďůĞŽŵŵƵŶŝƚǇ/ŶĨƌĂƐƚƌƵĐƚƵƌĞ EŽĚŝƐƚƌŝĐƚǁŝĚĞŝŶĨƌĂƐƚƌƵĐƚƵƌĞŝƐƉůĂŶŶĞĚĂƐƉĂƌƚŽĨƚŚŝƐƉƌŽũĞĐƚ͘ ͘ϭϮƌĞĂƚĞĂ,ĞĂůƚŚǇŽŵŵƵŶŝƚǇ dŚĞŵŝǆĞĚͲƵƐĞĐŽŵŵĞƌĐŝĂůͬƌĞƐŝĚĞŶƚŝĂůƉƌŽũĞĐƚŝƐůŽĐĂƚĞĚƚŽƉƌŽǀŝĚĞĂǁĂůŬĂďůĞĞǆƉĞƌŝĞŶĐĞŝŶƚŚĞ ĚŽǁŶƚŽǁŶĐŽƌĞ͘dŚĞĚĞǀĞůŽƉŵĞŶƚƉƌŽƉŽƐĂůǁŝůůŝŶĐůƵĚĞďŝŬĞƌĂĐŬƐŝŶƚŚĞŐĂƌĂŐĞƐ͕ĂĨŝƚŶĞƐƐĐĞŶƚĞƌ͕ ďĂůĐŽŶŝĞƐĂƚƚŚĞƵŶŝƚƐƚŽƉƌŽǀŝĚĞĂŵƉůĞůŝŐŚƚĂŶĚĂŝƌ͕ĂƐǁĞůůĂƐƚŚĞƌŽŽĨƚŽƉƉĂƚŝŽ͘ ͘^ƚƌĞĞƚƐĂŶĚŽƌƌŝĚŽƌƐ ͘ϬϭĞƐŝŐŶ^ƚƌĞĞƚƐƚŽĐĐŽŵŵŽĚĂƚĞWĞĚĞƐƚƌŝĂŶƐ dŚĞƉƌŽũĞĐƚǁŝůůĂĐĐŽŵƉůŝƐŚƐƚƌĞĞƚĞŶŚĂŶĐĞŵĞŶƚƐŝŶƚŚĞƉƵďůŝĐƌĞĂůŵǁŚŝĐŚǁŝůůĂĐĐŽŵŵŽĚĂƚĞ ƉĞĚĞƐƚƌŝĂŶƐ͘dŚĞƌĞŝƐĂŶĞůĞǀĂƚĞĚƉůĂŶŶĞĚĂĞƐƚŚĞƚŝĐǁŝƚŚƚŚĞŝŶĐŽƌƉŽƌĂƚŝŽŶŽĨůĂŶĚƐĐĂƉĞŵĂƚĞƌŝĂů͕ďŝŬĞ ƌĂĐŬƐ͕ĂŶĚĐŽŽƌĚŝŶĂƚŝŽŶǁŝƚŚƚŚĞƉƵďůŝĐŝŵƉƌŽǀĞŵĞŶƚƉƌŽũĞĐƚĂƚƚŚĞŝŶƚĞƌƐĞĐƚŝŽŶŽĨϰ ƚŚ^ƚƌĞĞƚ^tĂŶĚϭ Ɛƚ ǀĞŶƵĞ^t͘>ŝŐŚƚŝŶŐŝƐƉĞƌƚŚĞŝƚǇŽĨZŽĐŚĞƐƚĞƌƐƚĂŶĚĂƌĚĨŽƌŽŶƐƚƌĞĞƚůŝŐŚƚŝŶŐ͘ ͘ϬϮĞƐŝŐŶ^ƚƌĞĞƚƐƚŽĐĐŽŵŵŽĚĂƚĞŝĐǇĐůĞƐ ŝĐǇĐůĞƐĂƌĞĂĐĐŽŵŵŽĚĂƚĞĚǁŝƚŚĂďŝŬĞƌĂĐŬůŽĐĂƚĞĚŽŶϭ ƐƚǀĞŶƵĞ^tĂŶĚǁŝƚŚŝŶƚŚĞƉĂƌŬŝŶŐ ŐĂƌĂŐĞ͘ 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