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ϬϬϭϵϲ><ŶƵƚƐŽŶWůƵŵďŝŶŐ/ŶĐ ϬϬϭϵϳ>dĞƐƐŝĞƌΖƐ/ŶĐ͘ ϬϬϮϬϬ>D^DĞĐŚĂŶŝĐĂů^ĞƌǀŝĐĞƐ͕>> ϬϬϮϬϯ>ZŽŶŶǇΖƐWůďŐΘ,ƚŐ͕͘/ŶĐ͘DŝĚͲtĞƐƚDĂŝŶƚĞŶĂŶĐĞ ϬϬϮϬϴ>&ĞůƚŽŶWůƵŵďŝŶŐ͕>>͘ ϬϬϮϭϯ>dŽŶŶĂDĞĐŚĂŶŝĐĂů͕/ŶĐ͘ ϬϬϮϭϳ>,ĂƌƚǇDĞĐŚĂŶŝĐĂů/ŶĐ ϬϬϮϮϳ>^ŵŝĚƚ^ŚĞĞƚDĞƚĂůŽ͕/ŶĐ͘^ŵŝĚƚŽŶƐƚƌƵĐƚŝŽŶ ϬϬϮϯϬ>WŝŶǁŚĞĞůWůƵŵďŝŶŐŽĨZŽĐŚĞƐƚĞƌ/ŶĐ͘ ϬϬϮϯϮ>ZƵďŝŶDĞĐŚĂŶŝĐĂů^ĞƌǀŝĐĞƐ>> ϬϬϮϰϲ>'ŽĞƚǌŝŶŐĞƌWůƵŵďŝŶŐĂŶĚ,ĞĂƚŝŶŐ͕>͘>͘͘ ϬϬϮϰϳ>Zz,ĞĂƚΘŝƌ/ŶĐ͘ ϬϬϮϱϭ>,ĂůĞǇŽŵĨŽƌƚ^ǇƐƚĞŵƐ͕/ŶĐ͘ ϬϬϮϲϰ>ĂŶŽΖƐŶƚĞƌƉƌŝƐĞƐ/ŶĐ͘ĂŶŽΖƐŚŝŵŶĞǇ^ǁĞĞƉ ϬϬϮϲϳ>,ĂǁŬ^ĞƌǀŝĐĞƐ>> ϬϬϮϴϬ>:ͲĞƌĚDĞĐŚĂŶŝĐĂůŽŶƚƌĂĐƚŽƌƐ͕/ŶĐ͘ ϬϬϮϴϳ>DĞǇĞƌDĞĐŚĂŶŝĐĂů>> ϬϬϮϵϭ>'ĂƌǇŝŶĐŬWůƵŵďŝŶŐΘ,ĞĂƚŝŶŐ͕>> ϬϬϮϵϯ>ZŽƵƚĞϱϮWůƵŵďŝŶŐΘ,ĞĂƚŝŶŐ/ŶĐ͘ ϬϬϮϵϲ>dĞŵƉͲDĂƐƚĞƌƐ͕/ŶĐ͘ ϬϬϮϵϴ>ŝƌƚĞĐŚdŚĞƌŵĞǆ>> ϬϬϮϵϵ>ZŝǀĞƌĐŝƚǇZĞĨƌŝŐĞƌĂƚŝŽŶ͕/ŶĐ͘ ϬϬϯϬϳ>dƌŝƉůĞ,DĞĐŚĂŶŝĐĂů͕>> ϬϬϯϭϲ>WůƵŵďĞƌƐ^ĞƌǀŝĐĞŽĨZŽĐŚĞƐƚĞƌ/ŶĐWůƵŵďĞƌƐ^ĞƌǀŝĐĞ/ŶĐ ϬϬϯϮϮ>zĂůĞDĞĐŚĂŶŝĐĂů͕>>zĂůĞDĞĐŚĂŶŝĐĂů ϬϬϯϮϱ>tŝŶŽŶĂ,ĞĂƚŝŶŐĂŶĚsĞŶƚŝůĂƚŝŶŐŽt,s/E ϬϬϯϯϯ>EŽƌƚŚĞƌŶŝƌŽƌƉŽƌĂƚŝŽŶEDĞĐŚĂŶŝĐĂůĂŶĚůĞĐƚƌŝĐĂů^ĞƌǀŝĐĞƐ 3DFNHW3J )D ϬϬϯϯϱ>^ƚĞǀĞ'ƌĞĞŶ,ĞĂƚŝŶŐĂŶĚ͕ͬ/ŶĐ ϬϬϯϯϵ>tĂƚĞƌtŽƌŬƐWůƵŵďŝŶŐ͕>> ϬϬϯϰϬ>EŝůĞŶĚĞƌƐŽŶŝƌΘDĞƚĂů͕/ŶĐ͘ ϬϬϯϰϮ>WƌĞƐƚŝŐĞWůƵŵďŝŶŐ͕>> ϬϬϯϰϱ>ŶĞƌŐǇWƌŽĚƵĐƚƐĂŶĚĞƐŝŐŶ͕/ŶĐ͘ ϬϬϯϰϵ>,ŽǀΖƐWůƵŵďŝŶŐ͕/ŶĐ͘ ϬϬϯϱϭ>ZŝĞƐƚĞƌZĞĨƌŝŐĞƌĂƚŝŽŶ͕/ŶĐ͘ ϬϬϯϱϰ>ZŽŶĂƌůƐŽŶWůƵŵďŝŶŐ͕/ŶĐ͘ ϬϬϯϲϮ>DĐ'ŝůůWůƵŵďŝŶŐ͕/ŶĐ͘ ϬϬϯϲϴ>^ĞƌǀŝĐĞWƌŽƐWůƵŵďŝŶŐΘ,ĞĂƚŝŶŐ͕>> ϬϬϯϳϬ>ZŝŐŚƚdĞŵƉDĞĐŚĂŶŝĐĂů͕/ŶĐ͘ ϬϬϯϳϭ>Z:tĞůƉDĞĐŚĂŶŝĐĂů͕>> ϬϬϯϴϰ>ZĂŚŵĂŶ,ĞĂƚŝŶŐΘ&ŝƌĞƉůĂĐĞ>> ϬϬϯϴϱ>^ƵƉĞƌŝŽƌŽŵƉĂŶŝĞƐŽĨDŝŶŶĞƐŽƚĂ/ŶĐ^ƵƉĞƌŝŽƌDĞĐŚĂŶŝĐĂů ϬϬϯϴϲ>tĞŝƐ^ǇƐƚĞŵƐ͕/ŶĐ͘ ϬϬϯϵϮ>^ǇůǀĂŶĚĞƌ,ĞĂƚŝŶŐ͕/ŶĐ͘ ϬϬϰϬϳ>WĞƌĨĞĐƚůŝŵĂƚĞ͕/ŶĐ͘ ϬϬϰϭϮ>ΘWůƵŵďŝŶŐ͕/ŶĐ͘ ϬϬϰϮϬ>EĞůƐŽŶΖƐ'ĂƐ/ŶĐ͘ ϬϬϰϮϰ>ƵƐƚŽŵZĞĨƌŝŐĞƌĂƚŝŽŶ/ŶĐ͘ ϬϬϰϮϲ>ĞďĞĞWůƵŵďŝŶŐĂŶĚ,ĞĂƚŝŶŐ>> ϬϬϰϮϵ>ͲďĐƉƉůŝĂŶĐĞΘ,ĞĂƚŝŶŐ͕/ŶĐ͘dŽƚĂůŽŵĨŽƌƚ ϬϬϰϯϭ>ŽǌŝŬWůƵŵďŝŶŐΘ,ĞĂƚŝŶŐ/ŶĐ ϬϬϰϯϵ>^ĐŚǁŝĐŬĞƌƚΖƐdĞĐƚĂŵĞƌŝĐĂ͕>> ϬϬϰϰϲ>ĐĞŝƌŽŶĚŝƚŝŽŶŝŶŐ/ŶĐ ϬϬϰϰϳ>'ůŽǁŝŶŐ,ĞĂƌƚŚΘ,ŽŵĞ>> ϬϬϰϱϵ>ŚĂƉƉĞůĞŶƚƌĂů/ŶĐ ϬϬϰϲϴ>,ǇďƌŝĚDĞĐŚĂŶŝĐĂů͕>> ŚŽŝĐĞ,ĞĂƚŝŶŐĂŶĚŝƌŽŶĚŝƚŝŽŶŝŶŐ ϬϬϰϳϮ>ZŽƌǇǀĂŶƐ^ĞƌǀŝĐĞƐ ϬϬϰϳϰ>sĂůŽƌDĞĐŚĂŶŝĐĂů ϬϬϰϵϮ>DĞƚƌŽƉŽůŝƚĂŶDĞĐŚĂŶŝĐĂůŽƚŶƌĂĐƚŽƌƐ͕/ŶĐ͘ ϬϬϰϵϯ>ŝĐŬΖƐZĞĨƌŝŐĞƌĂƚŝŽŶ͕/ŶĐ͘ ϬϬϰϵϲ>,ƵƌĐŬŵĂŶDĞĐŚĂŶŝĐĂů/ŶĚƵƐƚƌŝĞƐ͕/ŶĐ͘ ϬϬϰϵϵ>:ŝŵΘƵĚĞΖƐWůƵŵďŝŶŐΘ,ĞĂƚŝŶŐ͕/ŶĐ͘ ϬϬϱϬϴ>ĐŽDĞĐŚĂŶŝĐĂů^ĞƌǀŝĐĞƐ͕>> ϬϬϱϭϭ>,Žƌǁŝƚǌ͕/ŶĐ͘ ϬϬϱϮϮ>WƌŽƉĞƌWůƵŵďŝŶŐΘ,ĞĂƚŝŶŐ͕>> ϬϬϱϮϳ>WŽůŝƐŚĞĚWůƵŵďŝŶŐ͕>>WŽůŝƐŚĞĚWůƵŵďŝŶŐ ϬϬϱϯϲ><ƌĂŵĞƌDĞĐŚĂŶŝĐĂůWůƵŵďŝŶŐĂŶĚ,ĞĂƚŝŶŐ/ŶĐ͘ ϬϬϱϱϰ>EŽƌƚŚůĂŶĚDĞĐŚĂŶŝĐĂůŽŶƚƌĂĐƚŽƌƐ͕/ŶĐ ϬϬϱϲϭ>YƵĂůŝƚǇ^ǇƐƚĞŵƐΘZĞĨƌŝŐĞƌĂƚŝŽŶ 3DFNHW3J )D ϬϬϱϳϬ><ƌĂĨƚŽŶƚƌĂĐƚŝŶŐ>><ƌĂĨƚDĞĐŚĂŶŝĐĂů>> ϬϬϱϳϳ>^Θ^,ŽŵĞ^ŽůƵƚŝŽŶƐ>>^Θ^,ŽŵĞ^ŽůƵƚŝŽŶƐ ϬϬϱϴϭ>EŽƌĚŝĐ^ĞƌǀŝĐĞƐ/ŶĐEŽƌĚŝĐDĞĐŚĂŶŝĐĂů^ĞƌǀŝĐĞƐ ϬϬϱϴϰ><ƵŚůŵĂŶ͕/ŶĐ͘ ϬϬϱϵϮ>hŶŝƚĞĚ^ƚĂƚĞƐDĞĐŚĂŶŝĐĂů/ŶĐ͘ ϬϬϱϵϴ>DŝŬĞDĂĐŬĞŶWůƵŵďŝŶŐ͕>> ϬϬϲϭϭ>DWΖƐ&ƵƚƵƌĞ͕/ŶĐDƌ͘ZŽŽƚĞƌWůƵŵďŝŶŐŽĨƚŚĞdǁŝŶŝƚŝĞƐ ϬϬϲϭϰ>WŚŝůŽƐDĞĐŚĂŶŝĐĂů>> 0$67(5,167$//(5 1$0( /,&),5671$0(/$67 'DPLDQ$KOVWURP ϬϬϬϳϯ> &KDUOHV.LVWOHU ϬϬϬϲϯ> .HQW6FKQHLGHU ϬϬϬϭϯ> $GDP$XJHGDKO ϬϬϬϭϰ> 3HWHU-RUGDQ ϬϬϬϭϱ> %UDGOH\0F*HH ϬϬϬϬϮ> 5HHG2JURVNH ϬϬϭϯϱ> %ULDQ+DOYRUVRQ ϬϬϭϰϮ> 7LP-XQJHUV ϬϬϭϮϳ> -DVRQ6PLWK ϬϬϭϯϬ> /DQFH,UYLQH ϬϬϭϭϵ> /HUR\6HXUHU ϬϬϭϮϱ> *UHJ3XPSHU ϬϬϭϮϴ> -HIIUH\5LQJHQEHUJ ϬϬϭϭϮ> *UDQW+HLNHV ϬϬϭϭϱ> $QWKRQ\3DXOVRQ ϬϬϭϭϲ> *DU\/DQGKHUU ϬϬϭϱϱ> :LOOLDP*D\,, ϬϬϭϱϮ> 7KRPDV%URJDQ ϬϬϬϭϳ> 1LFKRODV0D\ ϬϬϬϮϲ> 3DFNHW3J )D 0DUN1HOVRQ ϬϬϬϮϰ> 5REHUW.ORFNH ϬϬϬϮϴ> 5R[DQQH6WHZDUW ϬϬϬϭϲ> -RVHSK%UDXQ ϬϬϬϯϬ> 0DWKHZ0RHOOHU ϬϬϬϯϯ> &UDLJ%URJDQ ϬϬϬϭϵ> *DOHQ0F'RQDOG ϬϬϬϮϬ> 6FRWW2EHUJ ϬϬϬϮϱ> %UDGOH\/RPEDUG ϬϬϬϯϭ> 0DUOLQ.ODER ϬϬϬϰϳ> 'DYLG*UDQGERLV ϬϬϬϱϮ> $O3ODWW ϬϬϬϯϲ> -RKQ+XGVRQ ϬϬϬϰϯ> 'DYLG:HUQHU ϬϬϬϱϬ> 0LNH)LWFK ϬϬϬϯϳ> 6WHYH5ROI ϬϬϬϱϴ> 0DWW6WDUNVRQ ϬϬϭϳϯ> 5\DQ1DJHO ϬϬϭϲϯ> .HYLQ$OJHU ϬϬϭϴϵ> .HQQHWK6PLGW ϬϬϮϮϴ> 3DXO6HDYHU ϬϬϮϯϭ> 7KRPDV2OVHQ ϬϬϮϯϰ> 'DYLG*U]HFK ϬϬϭϵϵ> 'DYH+DDSRMD ϬϬϭϴϬ> 3DXO5RQQHQEHUJ ϬϬϮϬϮ> 3DWULFN0XUSK\ ϬϬϮϭϮ> 3DWULFN+DUW\ ϬϬϮϭϱ> 5DOSK3UDWKHU ϬϬϮϭϲ> 'DYLG6FKXOW] ϬϬϮϴϵ> -DPHV:HLQNDXI ϬϬϮϵϬ> *DU\(LQFN ϬϬϮϵϳ> 0DUN-RKQVRQ ϬϬϭϱϴ> 3DFNHW3J )D 3DWULFN+DZNLQV ϬϬϮϲϬ> -HUHP\+DUWQHFN ϬϬϮϳϴ> *UHJRU\1HVOHU ϬϬϭϲϲ> 3DXO9DQ7DVVHO ϬϬϭϴϰ> 5REHUW-RQHV ϬϬϭϴϯ> 6WHYH.LGURZVNL ϬϬϭϱϯ> .HQQHWK3RZHOO ϬϬϮϵϱ> /HQQ\%HUHQV ϬϬϬϵϯ> 5\DQ+DPLOWRQ ϬϬϭϰϯ> )UHG%LOOLQJVOH\ ϬϬϭϯϳ> -DVRQ.RHKOHU ϬϬϬϯϰ> %ULDQ.HHKQ ϬϬϭϮϭ> 'DYLG2IWHGDKO ϬϬϭϮϮ> 5LFKDUG.HHKQ ϬϬϭϮϯ> *UHJ0F$GDPV ϬϬϭϮϲ> -DPHV.RPD\ ϬϬϭϯϭ> -DPHV0F&ODIOLQ ϬϬϭϯϲ> &UDLJ6WHYHQV ϬϬϭϯϵ> 5RQ&DUOVRQ ϬϬϯϱϱ> 0DUN1HOVRQ ϬϬϯϲϵ> 6KDQH0RRUH ϬϬϯϰϭ> -RVKXD+DOYHUVRQ ϬϬϬϵϵ> -RKQ5LHVWHU ϬϬϯϱϬ> -HII+RYH\ ϬϬϯϰϴ> 0DWW)DXH ϬϬϯϭϵ> %ULDQ3LODUVNL ϬϬϯϮϬ> *DU\0RHQ ϬϬϯϮϯ> -RHO9RQKDGHQ ϬϬϯϮϰ> %UHQW%XFKDQ ϬϬϯϰϯ> 3DFNHW3J )D 5\DQ:HOS ϬϬϯϳϮ> 1LOH$QGHUVRQ ϬϬϯϳϲ> -HVVH$VFKH ϬϬϯϱϳ> .\OH%LVVHQ ϬϬϯϯϳ> :LOOLDP0LWFKHOO ϬϬϯϭϬ> /\QQ%R\XP ϬϬϯϭϭ> 0LFKDHO0XOOHU ϬϬϯϭϳ> (GZDUG/DQFH ϬϬϯϭϴ> /RZHOO%HQVRQ ϬϬϯϮϳ> %DUU\5\WHU ϬϬϯϲϬ> 6WHYH*UHHQ ϬϬϯϯϲ> %URG\-RKQVRQ ϬϬϯϱϴ> -HIIUH\2YHUNDPS ϬϬϮϱϮ> 5RU\(YDQV ϬϬϮϱϯ> :LOOLDP0H\HU ϬϬϮϴϯ> 0LFKDHO+RJDQ ϬϬϯϬϭ> 'DYLG%HUGDQ ϬϬϮϳϳ> 7KRPDV+DOH\ ϬϬϮϱϬ> &KULVWLDQ%HUEHULFK ϬϬϬϳϱ> (ULF+DUW ϬϬϮϯϱ> 5\DQ5XELQ ϬϬϮϯϯ> 'DQLHO:LOOLDPV ϬϬϮϲϯ> /HH&RFNHU ϬϬϮϰϭ> 3DXO/LQN ϬϬϬϲϵ> %ULDQ+DLQ ϬϬϬϲϱ> .HYLQ0DQVNH ϬϬϬϴϭ> 5REHUW&KDPEHUODQG ϬϬϬϴϬ> &OLQW$QGHUVRQ ϬϬϬϳϵ> 7LPRWK\0F3KHH ϬϬϭϰϱ> 7RGG+ROWDQ ϬϬϭϰϰ> &DOHE)HOWRQ ϬϬϮϬϳ> 3DFNHW3J )D 5DVKLG.DGLU ϬϬϭϵϱ> 3DXO.QXWVRQ ϬϬϭϵϯ> &KDG6HYHUVRQ ϬϬϭϵϮ> -DPHV*DQGHU ϬϬϭϴϲ> 0LNH3IHIIHU ϬϬϭϳϴ> %LOO$XJHGDKO ϬϬϮϰϰ> :LOOLDP.HLOHQ ϬϬϮϰϱ> 5REHUW0F*LOO ϬϬϯϲϰ> 5D\PRQG:HLV ϬϬϯϲϱ> -RH7RZH\ ϬϬϮϲϴ> 0LFKDHO%ODVNRZVNL ϬϬϮϳϵ> 6WHYHQ-RKQVRQ ϬϬϬϵϱ> 'DQLHO6NOX]DFHN ϬϬϭϬϱ> 7\%HVWRU ϬϬϮϰϬ> 7RP7KRPSVRQ ϬϬϯϵϭ> 5REHUW$UWKXU ϬϬϯϵϱ> 'DYLG0F&ODIOLQ ϬϬϯϳϴ> :LOOLDP5DKPDQ ϬϬϯϴϳ> 0LFKDHO/HPPHU ϬϬϮϭϭ> 0LFKDHO3ODQN ϬϬϮϮϭ> 5DQG\6WUDLQ ϬϬϮϮϮ> (OOLRWW'DZVRQ ϬϬϮϮϲ> 3HWHU%XVKPDQ ϬϬϬϱϲ> 6WHYHQ/RYKDXJ ϬϬϬϳϭ> $OH[DQGHU5\DQ ϬϬϬϴϴ> &KULV6DYDJH ϬϬϬϵϭ> $ODQ0HUHGLWK ϬϬϭϲϵ> 7KRPDV5DQ)UDQ] ϬϬϭϳϭ> -DVRQ*RHW]LQJHU ϬϬϮϬϵ> -HII6WURP ϬϬϮϯϵ> 0DUN:LFNHUVKDP ϬϬϯϲϳ> 3DFNHW3J )D :LOOLDP:LQILHOG ϬϬϮϮϰ> -HVVH6FKQLHGHUV ϬϬϰϬϲ> .\OH0F1DOODQ ϬϬϰϭϬ> (ULF6PLWKEDFN ϬϬϬϲϳ> %UXFH/RUHQWVRQ ϬϬϬϭϴ> 7UDYLV%HEHH ϬϬϰϮϳ> &KULV1HOVRQ ϬϬϰϮϮ> 5LFKDUG1HOVRQ ϬϬϰϮϭ> 'DYLG+XVV ϬϬϰϭϵ> $DURQ5XGH ϬϬϰϭϴ> %UDQGRQ5DGNH ϬϬϰϮϯ> 5DQG\-HQVHQ ϬϬϰϮϴ> 5RJHU+RIIKHLQ ϬϬϰϱϳ> 3DXO6FKPLGW ϬϬϰϰϵ> 6FRWW3DOPDWHHU ϬϬϰϰϱ> 5REHUW*DQGHU ϬϬϰϲϲ> -RKQ7UHOVWDG ϬϬϰϯϲ> 'HUULFN$OOHQ ϬϬϰϲϰ> 7RGG0XOOHU ϬϬϰϱϴ> 7LPRWK\6KLPHN ϬϬϰϰϴ> )UHG%LOOLQJVOH\ ϬϬϰϲϵ> &KULV&R]LN ϬϬϰϴϮ> 0DUN6WHZDUG ϬϬϰϵϰ> 0LFKDHO:DQJVQHVV ϬϬϱϬϬ> ,DQ6FKREODVNL ϬϬϰϵϳ> -DFRE0HVWDG ϬϬϱϬϲ> &DUO+HGOXQG ϬϬϱϬϵ> :LOOLDP0F.RVNH\ ϬϬϱϭϰ> /DXUHQW:LFNODQG ϬϬϱϭϱ> 7\3URSHU ϬϬϱϮϯ> %ULDQ:ROI ϬϬϱϮϵ> 5LFKDUG.UDPHU ϬϬϱϯϱ> 3DFNHW3J )D 6WHYH.UDPHU ϬϬϱϯϴ> 6KDZQ/\QFK ϬϬϱϱϳ> 5RVV1RDN ϬϬϱϰϳ> 0LNH0DFNHQ ϬϬϱϲϯ> -DFRE:HOOV ϬϬϱϱϬ> 0LFKDHO7LHYD ϬϬϱϰϵ> &XUWLV$QGHUVRQ ϬϬϱϱϭ> /DUU\7KRPSVRQ ϬϬϱϲϬ> :D\QH.LHIHU ϬϬϱϲϴ> -RKQ0LOOHU ϬϬϱϳϭ> %ULDQ3HDUVRQ ϬϬϱϳϯ> 6DP&KULVWHQVRQ ϬϬϱϳϰ> &KULV6FKDG ϬϬϱϳϲ> *UHJ-RKQVRQ ϬϬϱϳϵ> 7KRPDV*RUQLN ϬϬϱϴϬ> -RH%HOLVOH ϬϬϱϵϰ> -RKQ'D\ ϬϬϱϵϵ> %UHWW7KLHOHQ ϬϬϲϭϯ> *UHJ+DQVRQ ϬϬϲϭϱ> -HUHPLDK2VWHER ϬϬϲϭϳ> 3DXO6DOVPDQ ϬϬϲϮϭ> ^tZEZ/E >/ηED ϬϬϮϮϬ> WĞƚĞƌƐŽŶtĞůůƌŝůůŝŶŐ͕/ŶĐ͘ ϬϬϮϳϯ> ůĐŽŶǆĐĂǀĂƚŝŶŐ͕/ŶĐ͘ ϬϬϭϬϭ> Ğtŝƚǌ,ŽŵĞƵŝůĚĞƌƐ͕/ŶĐ͘ ϬϬϭϬϮ> ůĐŽƌŽŶƐƚƌƵĐƚŝŽŶ͕/ŶĐ͘ ϬϬϭϴϳ> ^ƵƉĞƌŝŽƌŽŵƉĂŶŝĞƐŽĨDŝŶŶĞƐŽƚĂ/ŶĐ^ƵƉĞƌŝŽƌDĞĐŚĂŶŝĐĂů ϬϬϭϵϬ> ,ŽĨƐĐŚƵůƚĞ,ŽůĚŝŶŐƐ͕/ŶĐ͘ ϬϬϭϰϲ> ,Θ,ŶƚĞƌƉƌŝƐĞƐ͕/ŶĐ͘ĐƚŝŽŶWůƵŵďŝŶŐΘ,ĞĂƚŝŶŐ 3DFNHW3J )D ϬϬϭϰϴ> ^͘>͘ŽŶƚƌĂĐƚŝŶŐ͕/ŶĐ͘ZŽĐŚĞƐƚĞƌ^ĞƌǀŝĐĞŽŵƉĂŶǇ ϬϬϬϰϵ> ĞŽŽŬǆĐĂǀĂƚŝŶŐ͕/ŶĐ͘ ϬϬϬϱϱ> ĞŶŶĞƚƚΘ^ŽŶƐ^ĂŶĚĂŶĚ'ƌĂǀĞůŽ͘ ϬϬϭϬϲ> DĞǇĞƌŽŵƉĂŶŝĞƐ͕/ŶĐ͘WĞƚĞΖƐtĂƚĞƌΘ^ĞǁĞƌ ϬϬϭϳϳ> DWůƵŵďŝŶŐΘ,ĞĂƚŝŶŐ/ŶĐ ϬϬϮϴϲ> &Z^ZKE^dZhd/KE ϬϬϯϬϲ> hůƚŝŵĂƚĞ>ĂŶĚƐĐĂƉŝŶŐ/ŶĐ͘ ϬϬϮϱϲ> ůŝŶƚ>ĂƌƐĞŶŽŶƐƚƌƵĐƚŝŽŶ͕>> ϬϬϯϬϮ> d'^ǁĂŶƐŽŶǆĐĂǀĂƚŝŶŐ͕/ŶĐ͘ ϬϬϯϯϴ> ƌŽŽŬƐǆĐĂǀĂƚŝŶŐŽ͕͘/ŶĐ͘ ϬϬϮϭϵ> DWΖƐ&ƵƚƵƌĞ͕/ŶĐDƌ͘ZŽŽƚĞƌWůƵŵďŝŶŐŽĨƚŚĞdǁŝŶŝƚŝĞƐ ϬϬϮϲϱ> ĂƌůŽůĂŶĚĞƌΘ^ŽŶƐ͕>> ϬϬϮϳϲ> ^ŽŵĂŽŶƐƚƌƵĐƚŝŽŶ/ŶĐ͘ ϬϬϯϲϯ> Z,ŽŶƐƚƌƵĐƚŝŽŶ/ŶĐ͘ ϬϬϮϰϴ> <ĂƚƐǆĐĂǀĂƚŝŶŐ>> ϬϬϮϳϬ> 'ƌŝĨĨŝŶŽŶƐƚƌƵĐƚŝŽŶŽ͕͘/ŶĐ͘ ϬϬϯϳϵ> ,ŽĚŐŵĂŶƌĂŝŶĂŐĞŽŵƉĂŶǇ/ŶĐ͘ ϬϬϯϯϰ> ^DǆĐĂǀĂƚŝŶŐŽ͘/ŶĐ ϬϬϮϳϭ> :ŽŚŶ^ŚĞĂŽŶƐƚƌƵĐƚŝŽŶ>>^ŚĞĂŽŶƐƚƌƵĐƚŝŽŶ ϬϬϯϴϯ> ĚŐĞŽŶƚƌĂĐƚŝŶŐ͕/ŶĐ͘ ϬϬϰϱϱ> :ĂŵĞƐŝĐŬŵĂŶ>>ΘŽŶƐƚƌƵĐƚŝŽŶ ϬϬϰϱϬ> /ƌŝƐŚǆĐĂǀĂƚŝŶŐ/ŶĐ ϬϬϰϯϯ> ^ĐŚƵŵĂĐŚĞƌǆĐĂǀĂƚŝŶŐ͕/ŶĐ ϬϬϰϰϰ> 'ŽƉŚĞƌ^ĞƉƚŝĐ^ĞƌǀŝĐĞ͕/ŶĐ͘'ŽƉŚĞƌ^ĞƉƚŝĐ^ĞƌǀŝĐĞ ϬϬϰϳϳ> ,ĞĂƌƚůĂŶĚǆĐĂǀĂƚŝŶŐ͕/ŶĐ͘ ϬϬϰϳϴ> ZŽĐŚĞƐƚĞƌƐƉŚĂůƚ͕/ŶĐ͘ ϬϬϱϬϱ> ::ŽŵƉĂŶŝĞƐ>> ϬϬϱϴϱ> WůĂĂƐ/ŶĐ͘ ϬϬϱϴϳ> hŶŝƚĞĚ^ƚĂƚĞƐDĞĐŚĂŶŝĐĂů͕/ŶĐ͘ ϬϬϱϵϱ> WƌĞĐŝƐŝŽŶ>ŝŶŝŶŐΘ^ĞǁĞƌ>> ϬϬϱϵϲ> ZĞŚŶĞůƚǆĐĂǀĂƚŝŶŐ͕>> ϬϬϲϬϲ> &ŝƚǌŐĞƌĂůĚǆĐĂǀĂƚŝŶŐΘdƌƵĐŬŝŶŐ/ŶĐ ϬϬϲϮϬ> ĐƚŝŽŶWůƵŵďŝŶŐΘ,ĞĂƚŝŶŐŽƌƉ 3DFNHW3J )D ^/t><KEdZdKZ >/ηED ϬϬϭϵϰ> ŝůůDĐĂŶŶŽŶĐƌĞƚĞ>>W ϬϬϮϭϬ> <ŽŵŝƚƚŽŶĐƌĞƚĞ͕/ŶĐ ϬϬϮϳϮ> >ĞŐĞŶĚƐŽŶĐƌĞƚĞ͕/ŶĐ͘ ϬϬϬϱϵ> dŚŝĞŵĂŶŶŽŶƐƚƌƵĐƚŝŽŶ͕/ŶĐ͘ ϬϬϭϬϯ> ůĐŽƌŽŶƐƚƌƵĐƚŝŽŶ͕/ŶĐ͘ ϬϬϭϬϰ> ůĐŽƌŽŶƐƚƌƵĐƚŝŽŶ͕/ŶĐ͘ ϬϬϭϲϬ> DĂƐƚĞĐEŽƌƚŚŵĞƌŝĐĂ/ŶĐ͘ ϬϬϭϳϮ> tŝĞƐĞƌƌŽƚŚĞƌƐ'ĞŶĞƌĂůŽŶƚƌĂĐƚŽƌ/ŶĐ ϬϬϭϰϵ> ^͘>͘ŽŶƚƌĂĐƚŝŶŐ͕/ŶĐ͘ ϬϬϭϱϬ> ^͘>͘ŽŶƚƌĂĐƚŝŶŐ͕/ŶĐ͘ ϬϬϭϱϵ> DĂƐƚĞĐEŽƌƚŚŵĞƌŝĐĂ/ŶĐ͘ ϬϬϬϮϮ> ZĞĞĚǇŽŶĐƌĞƚĞŽŶƐƚƌƵĐƚŝŽŶ/ŶĐ ϬϬϬϬϳ> ŽǇůĞŽŶŶĞƌŽ͘ ϬϬϮϳϰ> ůĐŽŶǆĐĂǀĂƚŝŶŐ͕/ŶĐ͘ůĐŽŶ ϬϬϮϴϰ> &ƌĂƐĞƌŽŶƐƚƌƵĐƚŝŽŶ ϬϬϮϴϱ> &ƌĂƐĞƌŽŶƐƚƌƵĐƚŝŽŶ ϬϬϯϭϰ> ůǀŝŶ͘ĞŶŝŬĞ͕/ŶĐ͘ĞŶŝŬĞŽŶƐƚƌƵĐƚŝŽŶ ϬϬϯϬϯ> d'^ǁĂŶƐŽŶǆĐĂǀĂƚŝŶŐ͕/ŶĐ͘ ϬϬϯϬϰ> d'^ǁĂŶƐŽŶǆĐĂǀĂƚŝŶŐ͕/ŶĐ͘ ϬϬϯϲϭ> ͘Z͘&ŝƐĐŚĞƌΘ^ŽŶƐ͕/ŶĐ͘ ϬϬϯϯϮ> DŽƌƌŝƐŽŶĐƌĞƚĞ͕/ŶĐ͘ ϬϬϮϲϲ> DĂƚŚǇŽŶƐƚƌƵĐƚŝŽŶŽZŽĐŚĞƐƚĞƌ^ĂŶĚΘ'ƌĂǀĞů ϬϬϬϳϲ> ŽďďƐŽŶƐƚƌƵĐƚŝŽŶ͕/ŶĐ͘ ϬϬϮϯϴ> ƌĞĂƚŝǀĞŽŶĐƌĞƚĞĞƐŝŐŶƐ͕/ŶĐ͘ ϬϬϭϱϭ> DĐ'ŽƵŐŚŽŶƐƚƌƵĐƚŝŽŶŽ͕͘>>DĐ'ŽƵŐŚŽŶƐƚƌƵĐƚŝŽŶ ϬϬϮϴϭ> ^ŽŵĂŽŶƐƚƌƵĐƚŝŽŶ/ŶĐ͘ ϬϬϯϴϮ> ůůĞŶŽŶĐƌĞƚĞ>> ϬϬϯϴϴ> <ĂƚƐǆĐĂǀĂƚŝŶŐ>> ϬϬϯϴϵ> ^ƚŽŶĞƌŝĚŐĞŽŶƐƚƌƵĐƚŝŽŶ>> ϬϬϯϮϵ> <ŶƵƚƐŽŶŽŶƐƚƌƵĐƚŝŽŶ^ĞƌǀŝĐĞƐZŽĐŚĞƐƚĞƌ͕ /ŶĐ͘ ϬϬϰϬϮ> DΘDŽŶƐƚƌƵĐƚŝŽŶΘůĞĂŶŝŶŐ͕/ŶĐ͘ ϬϬϰϬϰ> ůĂƌŬŽŶĐƌĞƚĞ͕/ŶĐ͘ ϬϬϯϭϮ> dŽŶǇWĂƵůƐŽŶƵŝůĚĞƌƐ ϬϬϰϱϯ> dŝůĨŽƌĚŽŶƐƚƌƵĐƚŝŽŶ͕/ŶĐ͘ ϬϬϰϰϭ> 'ƌĞŐtĞůůŝŬŽŶƐƚƌƵĐƚŝŽŶ/ŶĐ͘'ƌĞŐtĞůůŝŬŽŶƐƚƌƵĐƚŝŽŶ ϬϬϰϰϮ> DƵĞŚůĞŝƐŽŶĐƌĞƚĞΘDĂƐŽŶƌǇ>>DƵĞŚůĞŝƐŽŶĐƌĞƚĞΘ DĂƐŽŶƌǇ 3DFNHW3J )D ϬϬϰϯϰ> d^ŽŶĐƌĞƚĞ/ŶĐ͘d^ŽŶĐƌĞƚĞ ϬϬϰϱϰ> <ƵƐƚŽŵ>ĂŶĚƐĐĂƉĞ ϬϬϰϰϬ> Z<ΘdŽŶƐƚƌƵĐƚŝŽŶ͕/ŶĐZ<ΘdŽŶƐƚƌƵĐƚŝŽŶ ϬϬϰϱϮ> ƌŽŽŬƐǆĐĂǀĂƚŝŶŐŽŵƉĂŶǇ͕/ŶĐΘ^ĂŶĚ ϬϬϰϲϬ> ^Z'ƌŽƵƉƐ/ŶĐƌĞĂƚŝǀĞƵƌďƉƉĞĂů ϬϬϰϲϳ> hŶŝǀĞƌƐĂůŽŶĐƌĞƚĞ>>hŶŝǀĞƌƐĂůŽŶĐƌĞƚĞ ϬϬϰϳϯ> <ŽďĂůůΖƐWŽƵƌĞĚtĂůůƐ/ŶĐ͘<WtŽŶĐƌĞƚĞ ϬϬϰϳϵ> ZŽĐŚĞƐƚĞƌƐƉŚĂůƚ͕/ŶĐ͘ ϬϬϰϴϬ> ZŽĐŚĞƐƚĞƌƐƉŚĂůƚ͕/ŶĐ͘ ϬϬϰϳϱ> ŽŶĐƌĞƚĞ^ŽůƵƚŝŽŶƐ/ŶĐ ϬϬϰϴϳ> ZDŽŶƐƚƌƵĐƚŝŽŶ^ĞƌǀŝĐĞƐŽĨDŝŶŶĞƐŽƚĂ͕ZDŽŶƐƚƌƵĐƚŝŽŶ^ĞƌǀŝĐĞƐ >> ϬϬϱϬϮ> ,ǇŬĞŽŶĐƌĞƚĞ>> ϬϬϱϰϲ> EŽƌƚŚŽƵŶƚƌǇŽŶĐƌĞƚĞ/ŶĐ͘ ϬϬϱϲϱ> /ƐƉŚĂůƚΘŽŶĐƌĞƚĞ͕/ŶĐ͘ ϬϬϱϲϲ> /ƐƉŚĂůƚΘŽŶĐƌĞƚĞ͕/ŶĐ͘ ϬϬϱϮϰ> DŝĐŚĂĞů^,ĂĂĐŬƵŝůĚŝŶŐĂŶĚZĞŵŽĚĞůŝŶŐ >> ϬϬϱϵϭ> ƌĞůĂŶĚŶƚĞƌƉƌŝƐĞ/ŶĐ͘ŵĞƌŝĐĂŶtĂƚĞƌǁŽƌŬƐ ϬϬϱϵϳ> DĂĚĞƌǇŽŶƚƌƵĐƚŝŽŶ>> ϬϬϲϬϬ> ^ŽŶ^ŚŝŶĞ^ŽůƵƚŝŽŶƐ>>^ŝĚĞǁĂůŬ^ŽůƵƚŝŽŶƐ ϬϬϲϬϭ> DΘDŽŶƐƚƌƵĐƚŝŽŶΘůĞĂŶŝŶŐ/ŶĐ͘ ϬϬϲϬϮ> ^ĂĨĞ^ƚĞƉ>> ϬϬϲϬϳ> >ĞŐĂĐǇŽŶĐƌĞƚĞ>> ϬϬϱϴϮ> ZDK>/E'>>> ^/'EKEdZdKZ >/ηED ϬϬϬϬϰ> /ŶĚŝŐŽ^ŝŐŶǁŽƌŬƐ͕/ŶĐ ϬϬϬϭϬ> ďĞů^ŝŐŶƐ͕/ŶĐ ϬϬϬϰϰ> >ĂƌŽƐƐĞ^ŝŐŶŽ/ŶĐ>ĂƌŽƐƐĞ^ŝŐŶ'ƌŽƵƉ ϬϬϭϲϴ> ĂŬŽƚĂ^ŝŐŶΘWĂŝŶƚŝŶŐŽŵƉĂŶǇ͕/ŶĐ͘ ϬϬϮϳϱ> EĂŐůĞ^ŝŐŶƐ͕/ŶĐ͘ ϬϬϮϱϳ> &ƌĂŶŬůŝŶKƵƚĚŽŽƌĚǀĞƌƚŝƐŝŶŐŽŵƉĂŶǇ͕ /ŶĐ͘ ϬϬϭϯϯ> 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^ĞƌŝŐƌĂƉŚŝĐƐ^ŝŐŶ^ǇƐƚĞŵƐ͕/ŶĐ͘ ϬϬϱϲϳ> &ŝƌƐƚĚ^ŝŐŶƐ/ŶĐ͘d&^ŝŐŶƐ ϬϬϱϴϴ> '<ĂŶĚDŶƚĞƌƉƌŝƐĞƐ͕/ŶĐ͘^ŝŐŶĐƌĂĨƚĞƌƐKƵƚĚŽŽƌ ϬϬϱϴϲ> Z:DWƌŝŶƚŝŶŐ͕/ŶĐ͘^ŽƵůŽŽŵŵƵŶŝĐĂƚŝŽŶƐ ϬϬϱϵϯ> ^ĐƋƵŝƐŝƚŝŽŶŽŵƉĂŶǇ>>ůďƌĞĐŚƚ^ŝŐŶŽŵƉĂŶǇ ϬϬϱϵϬ> :E^ŝŐŶƐ͕/ŶĐ͘:E^ŝŐŶƐ͕/ŶĐ͘ ϬϬϲϬϰ> :^ŝŐŶƐΘ'ƌĂƉŚŝĐƐŽ͘ ϬϬϲϭϬ> ZŽƐĞŝƚǇ^ŝŐŶ/ŶĐZŽƐĞŝƚǇ^ŝŐŶ ϬϬϲϭϲ> >ĂŶĚŵĂƌŬƌĐŚŝƚĞĐƚƵƌĂů^ŝŐŶƐ dZdZ/DDZ >/ηED ĂƐƚůĞZŽĐŬŽŶƚƌĂĐƚŝŶŐĂŶĚdƌĞĞ^ĞƌǀŝĐĞ>> ϬϬϰϱϲ> dƌĞĞ^ĞƌǀŝĐĞ͕>>dƌĞĞ^ĞƌǀŝĐĞ ϬϬϰϰϯ> 3DFNHW3J )D ĂƌƌΖƐdƌĞĞ^ĞƌǀŝĐĞ͕/ŶĐ͘ ϬϬϰϯϬ> :ĞĨĨtŝůƐŽŶtŝůƐŽŶƵƐƚŽŵdƌĞĞ ϬϬϰϭϱ> ZŽŐĞƌΖƐdƌĞĞΘƐƉŚĂůƚ^ĞƌǀŝĐĞƐ͕>> ϬϬϰϭϰ> dŝŵďĞƌdƌĞĞĂŶĚdƌŝŵŵŝŶŐ^ĞƌǀŝĐĞ͕>> ϬϬϰϴϴ> dŚĞĂǀĞǇdƌĞĞǆƉĞƌƚŽŵƉĂŶǇ ϬϬϰϵϬ> ^ĂƌŐĞŶƚΖƐ>ĂŶĚƐĐĂƉĞEƵƌƐĞƌǇ͕/ŶĐ͘ ϬϬϰϳϬ> DĞŝŐŚĞŶ&ŽƌĞƐƚWƌŽĚƵĐƚƐ͕>> ϬϬϱϰϭ> &D'ZŽĐŚĞƐƚĞƌ͕>>ZĞĂŐĂŶKƵƚĚŽŽƌŽĨZŽĐŚĞƐƚĞƌ ϬϬϱϱϯ> tĞůůĞƌƌŽƚŚĞƌƐŽĨDE͕>>tĞůůĞƌƌŽƚŚĞƌƐ>ĂŶĚƐĐĂƉŝŶŐ ϬϬϱϴϵ> <ĞůůǇΖƐdƌĞĞ^ĞƌǀŝĐĞ>> ϬϬϱϴϯ> :ŽĞů,ĂĐŬďĂƌƚŚ,ĂĐŬďĂƌƚŚ>ŽŐŐŝŶŐ ϬϬϱϳϱ> ZŽŽƚZŝǀĞƌdƌĞĞ^ĞƌǀŝĐĞ͕>> ϬϬϬϬϱ> ŽďƚŚĞƵŐDĂŶ>> ϬϬϬϴϮ> ^ƚĞǀĞ^ĐŚƌŽĞĚĞƌ^ĞƌǀŝĐĞƐ͕>>^ƚĞǀĞŶ͘^ĐŚƌŽĞĚĞƌ ϬϬϮϮϯ> ,ĂǇĞƐdƌĞĞ>> ϬϬϮϮϱ> ŶĚƐƚĂƌ͕>>ŶĚƐƚĂƌ^ƚƵŵƉ'ƌŝŶĚŝŶŐdƌĞĞ^ĞƌǀŝĐĞ ϬϬϮϱϱ> 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ŶǇĂŶĚĂůůƉƌŽǀŝƐŝŽŶƐŽĨƚŚĞƐĞ'ĞŶĞƌĂůŽŶĚŝƚŝŽŶƐǁŝůůƌĞŵĂŝŶŝŶĨŽƌĐĞƵŶůĞƐƐƚŚĞǇĂƌĞƐƉĞĐŝĨŝĐĂůůǇĂŶĚĚĞůŝďĞƌĂƚĞůǇ $ ĐĂŶĐĞůĞĚŽƌŵŽĚŝĨŝĞĚďǇƚŚĞ^ƉĞĐŝĂůŽŶĚŝƚŝŽŶƐŽĨƚŚŝƐŽŶƚƌĂĐƚ͘ dŽƚŚĞĞǆƚĞŶƚŽĨĂŶǇŝŶĐŽŶƐŝƐƚĞŶĐŝĞƐďĞƚǁĞĞŶƚŚĞ^ƉĞĐŝĂůŽŶĚŝƚŝŽŶƐĂŶĚƚŚĞƐĞ'ĞŶĞƌĂůŽŶĚŝƚŝŽŶƐ͕ƚŚĞ^ƉĞĐŝĂůŽŶĚŝƚŝŽŶƐ % ǁŝůůĐŽŶƚƌŽů͘DŝŶŶĞƐŽƚĂ>ĂǁƐƵƉĞƌƐĞĚĞƐĂŶǇŽĨƚŚĞ^ƉĞĐŝĂůŽŶĚŝƚŝŽŶƐŽƌ'ĞŶĞƌĂůŽŶĚŝƚŝŽŶƐƐĞƚĨŽƌƚŚŝŶƚŚŝƐŽŶƚƌĂĐƚ͘ dZD^K&WzDEd $57,&/( ^ƵďũĞĐƚƚŽƚŚĞƉƌŽǀŝƐŝŽŶƐŽĨƚŚĞ^ƉĞĐŝĂůŽŶĚŝƚŝŽŶƐ͕ĂůůƐĞƌǀŝĐĞƐƉĞƌĨŽƌŵĞĚĂŶĚĚĞůŝǀĞƌĂďůĞƐƐĂƚŝƐĨĂĐƚŽƌŝůǇƐƵƉƉůŝĞĚďǇ $ E'/EZƉƵƌƐƵĂŶƚƚŽƚŚŝƐŽŶƚƌĂĐƚǁŝůůďĞƉĂŝĚďǇ/dz͘ŽŵƉĞŶƐĂƚŝŽŶǁŝůůďĞŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞ^ƉĞĐŝĂůŽŶĚŝƚŝŽŶƐ͕ Zd/>ϯ͕͞ŽŶƐŝĚĞƌĂƚŝŽŶŽĨWĂǇŵĞŶƚ͘͟ /ĨŝƚĂƉƉĞĂƌƐĂƚĂŶǇƚŝŵĞƚŚĂƚE'/EZǁŝůůĞǆĐĞĞĚƚŚĞdŽƚĂůŽŶƚƌĂĐƚŵŽƵŶƚƐƚĂƚĞĚŝŶƚŚĞ^ƉĞĐŝĂůŽŶĚŝƚŝŽŶƐŽĨƚŚŝƐ % ŽŶƚƌĂĐƚ͕E'/EZŵƵƐƚŶŽƚŝĨǇ/dz͛ƐƵƚŚŽƌŝǌĞĚŐĞŶƚŝŶǁƌŝƚŝŶŐŝŶĂƚŝŵĞůǇŵĂŶŶĞƌ͘E'/EZŵĂǇŶŽƚďĞ ĐŽŵƉĞŶƐĂƚĞĚĨŽƌǁŽƌŬƉĞƌĨŽƌŵĞĚŝŶĞǆĐĞƐƐŽĨƚŚĞdŽƚĂůŽŶƚƌĂĐƚŵŽƵŶƚǁŝƚŚŽƵƚĂǁƌŝƚƚĞŶ͕ĂŶĚĨƵůůǇĞǆĞĐƵƚĞĚ͕ ĂŵĞŶĚŵĞŶƚƚŽƚŚĞŽŶƚƌĂĐƚ͘ŶǇǁŽƌŬƉĞƌĨŽƌŵĞĚďĞǇŽŶĚƚŚĂƚŝĚĞŶƚŝĨŝĞĚŝŶƚŚŝƐŽŶƚƌĂĐƚǁŝƚŚŽƵƚĂƉƌŝŽƌǁƌŝƚƚĞŶ ĂŵĞŶĚŵĞŶƚƐŝŐŶĞĚďǇ/dzŵĂǇďĞĚĞĞŵĞĚǀŽůƵŶƚĂƌǇĂŶĚE'/EZŵĂǇŶŽƚďĞĞŶƚŝƚůĞĚƚŽĐŽŵƉĞŶƐĂƚŝŽŶĨŽƌƚŚĞĞǆƚƌĂ ǁŽƌŬ͘ /ĨE'/EZĐůĂŝŵƐĂŶǇŝŶƐƚƌƵĐƚŝŽŶƐ͕ůĂƚĞŶƚĐŽŶĚŝƚŝŽŶƐ͕ŽƌŽƚŚĞƌĐŽŶĚŝƚŝŽŶƐĞǆŝƐƚƚŚĂƚƌĞƋƵŝƌĞĞǆƚƌĂĐŽƐƚƵŶĚĞƌƚŚŝƐ & ŽŶƚƌĂĐƚ͕E'/EZŵƵƐƚŵĂŬĞĐůĂŝŵĨŽƌĂŶǇĞǆƚƌĂĐŽƐƚŝŶĐƵƌƌĞĚŝŶǁƌŝƚŝŶŐǁŝƚŚŝŶϮϬĂůĞŶĚĂƌĚĂǇƐĂĨƚĞƌƐƵĐŚŝŶƐƚƌƵĐƚŝŽŶ ŽƌŽďƐĞƌǀĂŶĐĞŽĨĐŽŶĚŝƚŝŽŶƐ͘>ĂƚĞŶƚĐŽŶĚŝƚŝŽŶƐĂƌĞĐŽŶĚŝƚŝŽŶƐŶŽƚĂŶƚŝĐŝƉĂƚĞĚďǇƚŚĞ^ƉĞĐŝĂůŽŶĚŝƚŝŽŶƐŽĨƚŚŝƐŽŶƚƌĂĐƚ͘ ŶǇĐůĂŝŵŵĂĚĞĂĨƚĞƌƚŚŝƐƚŝŵĞŵĂǇďĞƌĞĨƵƐĞĚĂŶĚŶŽĐůĂŝŵǁŝůůďĞǀĂůŝĚƵŶůĞƐƐƐŽŵĂĚĞ͘ŶǇǁŽƌŬƉĞƌĨŽƌŵĞĚƵŶĚĞƌĂŶ 3DFNHW3J )F ĂŵĞŶĚŵĞŶƚƚŽƚŚŝƐŽŶƚƌĂĐƚƚŚĂƚŚĂƐŶŽƚďĞĞŶƉƌŽƉĞƌůǇĂƉƉƌŽǀĞĚĂŶĚĞǆĞĐƵƚĞĚďǇƚŚĞƉĂƌƚŝĞƐǁŝůůďĞƉĞƌĨŽƌŵĞĚĂƚ E'/EZΖƐŽǁŶƌŝƐŬ͘ ZĞŝŵďƵƌƐĞŵĞŶƚĨŽƌƚƌĂǀĞůĂŶĚƐƵďƐŝƐƚĞŶĐĞĞǆƉĞŶƐĞƐĂĐƚƵĂůůǇĂŶĚŶĞĐĞƐƐĂƌŝůǇŝŶĐƵƌƌĞĚďǇE'/EZĂƐĂƌĞƐƵůƚŽĨ ' ƉĞƌĨŽƌŵĂŶĐĞŽĨƚŚŝƐŽŶƚƌĂĐƚŵƵƐƚŶŽƚĞǆĐĞĞĚƚŚĞĂŵŽƵŶƚĚĞĨŝŶĞĚŝŶƚŚĞ^ƉĞĐŝĂůŽŶĚŝƚŝŽŶƐ͘E'/EZŵĂǇďĞ ƌĞŝŵďƵƌƐĞĚĨŽƌƚƌĂǀĞůĂŶĚƐƵďƐŝƐƚĞŶĐĞĞǆƉĞŶƐĞƐŝŶƚŚĞƐĂŵĞŵĂŶŶĞƌĂŶĚŝŶŶŽŐƌĞĂƚĞƌĂŵŽƵŶƚƚŚĂŶƉƌŽǀŝĚĞĚŝŶƚŚĞ ĐƵƌƌĞŶƚΗDŶͬKddƌĂǀĞůZĞŐƵůĂƚŝŽŶƐΗ͕ĂŶĚŝĚĞŶƚŝĨŝĞĚŝŶ^ƉĞĐŝĂůŽŶĚŝƚŝŽŶƐ͕ƌƚŝĐůĞϯ͘ WZKhZ&KZWzDEd $57,&/( WĂǇŵĞŶƚƐǁŝůůďĞŵĂĚĞďǇ/dzǁŝƚŚŝŶϯϬĚĂǇƐŽĨE'/EZ͛ƐƉƌĞƐĞŶƚĂƚŝŽŶŽĨƉƌŽƉĞƌůǇƉƌĞƉĂƌĞĚŝŶǀŽŝĐĞƐĂŶĚƉƌŽŐƌĞƐƐ $ ƌĞƉŽƌƚƐĨŽƌƐĞƌǀŝĐĞƐƉĞƌĨŽƌŵĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚŝƐŽŶƚƌĂĐƚ͘/dzƐŚĂůůŶŽƚŝĨǇE'/EZŝŶǁƌŝƚŝŶŐǁŝƚŚŝŶϯϬĚĂǇƐŽĨ E'/EZ͛ƐƉƌĞƐĞŶƚĂƚŝŽŶŽĨŝŶǀŽŝĐĞƐŝĨƚŚĞǇďĞůŝĞǀĞƚŚĞƉƌŽŐƌĞƐƐƌĞƉŽƌƚƐǁĞƌĞŶŽƚƉƌŽƉĞƌůǇƉƌĞƉĂƌĞĚŽƌƚŚĞƐĞƌǀŝĐĞƐǁĞƌĞ ŶŽƚƉƌŽƉĞƌůǇƉĞƌĨŽƌŵĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞŽŶƚƌĂĐƚ͘ /ŶǀŽŝĐĞƐĨŽƌƉĂǇŵĞŶƚŵƵƐƚďĞƐƵďŵŝƚƚĞĚďǇE'/EZŵŽŶƚŚůǇƚŽƚŚĞ/dzΖƐƵƚŚŽƌŝǌĞĚŐĞŶƚŝŶƚŚĞĨŽƌŵƉƌĞƐĐƌŝďĞĚďǇ % /dz͘/ŶǀŽŝĐĞƐƐŚŽƵůĚŝĚĞŶƚŝĨǇƚŚĞƉƌŽũĞĐƚĂŶĚƚŚĞĐŽƐƚĨŽƌƚŚĞƐĞƌǀŝĐĞƐƉĞƌĨŽƌŵĞĚĂŶĚĚĞůŝǀĞƌĞĚĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚĂŶĚ ŵƵƐƚƐĂƚŝƐĨǇƚŚĞƌĞƋƵŝƌĞŵĞŶƚƐůŝƐƚĞĚďĞůŽǁ͗ ϭ͘ĂĐŚŝŶǀŽŝĐĞŵƵƐƚĐŽŶƚĂŝŶƚŚĞĨŽůůŽǁŝŶŐŝŶĨŽƌŵĂƚŝŽŶ͗/dzĐŽŶƚƌĂĐƚŝŶǀŽŝĐĞŶƵŵďĞƌ;ƐĞƋƵĞŶƚŝĂůůǇŶƵŵďĞƌĞĚͿ͕ďŝůůŝŶŐ ĂĚĚƌĞƐƐŝĨĚŝĨĨĞƌĞŶƚĨƌŽŵďƵƐŝŶĞƐƐĂĚĚƌĞƐƐ͕ĂŶĚE'/EZΖƐŽƌŝŐŝŶĂůƐŝŐŶĂƚƵƌĞĂƚƚĞƐƚŝŶŐƚŚĂƚƚŚĞŝŶǀŽŝĐĞĚƐĞƌǀŝĐĞƐĂŶĚ ĐŽƐƚƐĂƌĞŶĞǁĂŶĚƚŚĂƚŶŽƉƌĞǀŝŽƵƐĐŚĂƌŐĞĨŽƌƚŚŽƐĞƐĞƌǀŝĐĞƐĂŶĚĚĞůŝǀĞƌĂďůĞƐŚĂƐďĞĞŶŝŶĐůƵĚĞĚŝŶĂŶǇƉƌŝŽƌŝŶǀŽŝĐĞ͘ Ϯ͘dŚĞŽƌŝŐŝŶĂůŽĨĞĂĐŚŝŶǀŽŝĐĞĂŶĚƉƌŽŐƌĞƐƐƌĞƉŽƌƚŵƵƐƚďĞƐĞŶƚƚŽƚŚĞ/dzΖƐƵƚŚŽƌŝǌĞĚŐĞŶƚĨŽƌƌĞǀŝĞǁĂŶĚƉĂǇŵĞŶƚ͘ ϯ͘ŝƌĞĐƚŶŽŶͲƐĂůĂƌǇĐŽƐƚƐĂůůŽĐĂďůĞƚŽƚŚĞǁŽƌŬƵŶĚĞƌƚŚŝƐŽŶƚƌĂĐƚ͕ĂŶĚĚĞĨŝŶĞĚŝŶƚŚĞ^ƉĞĐŝĂůŽŶĚŝƚŝŽŶƐŽĨƚŚŝƐ ŽŶƚƌĂĐƚ͕ŵƵƐƚďĞŝƚĞŵŝǌĞĚĂŶĚƐƵƉƉŽƌƚĞĚǁŝƚŚŝŶǀŽŝĐĞƐŽƌďŝůůŝŶŐĚŽĐƵŵĞŶƚƐƚŽƐŚŽǁƚŚĂƚƐƵĐŚĐŽƐƚƐĂƌĞƉƌŽƉĞƌůǇ ĂůůŽĐĂďůĞƚŽƚŚĞǁŽƌŬ͘ŝƌĞĐƚŶŽŶͲƐĂůĂƌǇĐŽƐƚƐĂƌĞĂŶǇĐŽƐƚƐƚŚĂƚĂƌĞŶŽƚƚŚĞƐĂůĂƌŝĞĚĐŽƐƚƐĚŝƌĞĐƚůǇƌĞůĂƚĞĚƚŽƚŚĞǁŽƌŬ ŽĨƚŚĞE'/EZ͘^ƵƉƉŽƌƚŝŶŐĚŽĐƵŵĞŶƚĂƚŝŽŶŵƵƐƚďĞƉƌŽǀŝĚĞĚŝŶĂŵĂŶŶĞƌƚŚĂƚĐŽƌƌĞƐƉŽŶĚƐƚŽĞĂĐŚĚŝƌĞĐƚĐŽƐƚ͘ ϰ͘E'/EZŵƵƐƚƉƌŽǀŝĚĞ͕ƵƉŽŶƌĞƋƵĞƐƚŽĨƚŚĞ/dzΖƐƵƚŚŽƌŝǌĞĚŐĞŶƚ͕ƚŚĞĨŽůůŽǁŝŶŐƐƵƉƉŽƌƚŝŶŐĚŽĐƵŵĞŶƚĂƚŝŽŶ͗ ŝƌĞĐƚƐĂůĂƌǇĐŽƐƚƐŽĨĞŵƉůŽǇĞĞƐΖƚŝŵĞĚŝƌĞĐƚůǇĐŚĂƌŐĞĂďůĞĨŽƌƚŚĞƐĞƌǀŝĐĞƐƉĞƌĨŽƌŵĞĚƵŶĚĞƌƚŚŝƐŽŶƚƌĂĐƚ͘ D dŚŝƐŵƵƐƚŝŶĐůƵĚĞĂƉĂǇƌŽůůĐŽƐƚďƌĞĂŬĚŽǁŶŝĚĞŶƚŝĨǇŝŶŐƚŚĞŶĂŵĞŽĨƚŚĞĞŵƉůŽǇĞĞ͕ĐůĂƐƐŝĨŝĐĂƚŝŽŶ͕ĂĐƚƵĂůƌĂƚĞŽĨƉĂǇ͕ ŚŽƵƌƐǁŽƌŬĞĚ͕ĂŶĚƚŽƚĂůƉĂǇŵĞŶƚĨŽƌĞĂĐŚŝŶǀŽŝĐĞƉĞƌŝŽĚ͖ĂŶĚ ^ŝŐŶĞĚƚŝŵĞƐŚĞĞƚƐŽƌƉĂǇƌŽůůĐŽƐƚďƌĞĂŬĚŽǁŶĨŽƌĞĂĐŚĞŵƉůŽǇĞĞůŝƐƚŝŶŐĚĂƚĞƐĂŶĚŚŽƵƌƐǁŽƌŬĞĚ͘ŽŵƉƵƚĞƌ E ŐĞŶĞƌĂƚĞĚƉƌŝŶƚŽƵƚƐŽĨůĂďŽƌĐŽƐƚƐĨŽƌƚŚĞƉƌŽũĞĐƚŵƵƐƚĐŽŶƚĂŝŶƚŚĞƉƌŽũĞĐƚŶƵŵďĞƌ͕ĞĂĐŚĞŵƉůŽǇĞĞΖƐŶĂŵĞ͕ŚŽƵƌůǇ ƌĂƚĞ͕ƌĞŐƵůĂƌĂŶĚŽǀĞƌƚŝŵĞŚŽƵƌƐ͕ĂŶĚƚŚĞĚŽůůĂƌĂŵŽƵŶƚĐŚĂƌŐĞĚƚŽƚŚĞƉƌŽũĞĐƚĨŽƌĞĂĐŚƉĂǇƉĞƌŝŽĚ͘ ϱ͘E'/EZŵƵƐƚƉƌŽǀŝĚĞĂĐŽƉǇŽĨƚŚĞŝŶǀŽŝĐĞƚŚĞǇĨŽƌǁĂƌĚĞĚƚŽƚŚĞĐŝƚǇƚŽƚŚĞĚĞǀĞůŽƉĞƌĨŽƌŝŶĨŽƌŵĂƚŝŽŶĂůƉƵƌƉŽƐĞƐ͘ dŚŝƐĚŽĐƵŵĞŶƚƐŚŽƵůĚďĞĐůĞĂƌĞĚƐƚĂƚĞĚƚŚĂƚŝƚ͛ƐĨŽƌŝŶĨŽƌŵĂƚŝŽŶĂůƉƵƌƉŽƐĞƐŽŶůǇ͘ /ĨE'/EZŝƐĂƵƚŚŽƌŝǌĞĚďǇ/dzƚŽƵƐĞŽƌƵƐĞƐĂŶǇƐƵďĐŽŶƐƵůƚĂŶƚƐ͕E'/EZŵƵƐƚŝŶĐůƵĚĞĂůůƚŚĞĂďŽǀĞƐƵƉƉŽƌƚŝŶŐ & ĚŽĐƵŵĞŶƚĂƚŝŽŶŝŶĂŶǇƐƵďĐŽŶƐƵůƚĂŶƚ͛ƐŽŶƚƌĂĐƚ͕ĂŶĚE'/EZŵƵƐƚĐŽŵƉůǇǁŝƚŚDŝŶŶĞƐŽƚĂ^ƚĂƚƵƚĞƐ^ĞĐƚŝŽŶϭϲ͘ϭϮϰϱ͕ ƌĞƋƵŝƌŝŶŐƚŝŵĞůǇƉĂǇŵĞŶƚďǇE'/EZŽĨƐƵďĐŽŶƐƵůƚĂŶƚ͛Ɛ͕ƉĞŶĂůƚŝĞƐĨŽƌůĂƚĞƉĂǇŵĞŶƚƐ͕ĂŶĚĚĞĨŝŶŝŶŐĐŽƐƚƐƚŚĞƐƵď ĐŽŶƐƵůƚĂŶƚŵƵƐƚďĞĂǁĂƌĚĞĚŝĨƚŚĞƐƵďĐŽŶƐƵůƚĂŶƚƉƌĞǀĂŝůƐŝŶĂůĂǁƐƵŝƚ͘ E'/EZŵƵƐƚƌĞƋƵŝƌĞƐƵďĐŽŶƐƵůƚĂŶƚ͛ƐŝŶǀŽŝĐĞƐƚŽĨŽůůŽǁƚŚĞƐĂŵĞĨŽƌŵĂŶĚĐŽŶƚĂŝŶƚŚĞƐĂŵĞŝŶĨŽƌŵĂƚŝŽŶĂƐƐĞƚ ' ĨŽƌƚŚĂďŽǀĞ͘ KE/d/KE^K&WzDEd $57,&/( &ŽƌĂůůƐĞƌǀŝĐĞƐĂŶĚĚĞůŝǀĞƌĂďůĞƐƉƌŽǀŝĚĞĚďǇE'/EZƵŶĚĞƌƚŚŝƐŽŶƚƌĂĐƚ͕ƚŚĞŶŐŝŶĞĞƌƐŚĂůůŵĂŝŶƚĂŝŶŝƚƐĞƚŚŝĐĂůĂŶĚ $ ůĞŐĂůĚƵƚǇŽĨĂƉƌŽĨĞƐƐŝŽŶĂůƚŽĞǆĞƌĐŝƐĞƚŚĞůĞǀĞůŽĨĐĂƌĞ͕ĚŝůŝŐĞŶĐĞ͕ĂŶĚƐŬŝůůƉƌĞƐĐƌŝďĞĚŝŶƚŚĞĐŽĚĞŽĨƉƌĂĐƚŝĐĞŽĨŚŝƐŽƌŚĞƌ ƉƌŽĨĞƐƐŝŽŶ͕ŽƌĂƐŽƚŚĞƌƉƌŽĨĞƐƐŝŽŶĂůƐŝŶƚŚĞƐĂŵĞĚŝƐĐŝƉůŝŶĞǁŽƵůĚŝŶƚŚĞƐĂŵĞŽƌƐŝŵŝůĂƌĐŝƌĐƵŵƐƚĂŶĐĞƐ͘dŚĞE'/EZ ƐŚĂůůĐŽŵƉůǇǁŝƚŚƚŚĞĨŽůůŽǁŝŶŐ͗ ϭ͘ůůĐƵƌƌĞŶƚĂƉƉůŝĐĂďůĞĨĞĚĞƌĂů͕ƐƚĂƚĞ͕ĂŶĚůŽĐĂůůĂǁƐ͕ŽƌĚŝŶĂŶĐĞƐ͕ƌƵůĞƐ͕ĂŶĚƌĞŐƵůĂƚŝŽŶƐ͘ Ϯ͘ůůĐƵƌƌĞŶƚƐƚĂƚĞƐƚĂŶĚĂƌĚƐ͕ƉŽůŝĐŝĞƐ͕ĂŶĚƉƌĂĐƚŝĐĞƐƌĞƋƵŝƌĞĚďǇĂƉƉůŝĐĂďůĞůĂǁƚŽƉĞƌĨŽƌŵE'/EZ͛ƐƐĞƌǀŝĐĞƐ͘ 3DFNHW3J )F E'/EZǁŝůůŶŽƚƌĞĐĞŝǀĞƉĂǇŵĞŶƚĨŽƌǁŽƌŬƉĞƌĨŽƌŵĞĚŝŶǀŝŽůĂƚŝŽŶŽĨĨĞĚĞƌĂů͕ƐƚĂƚĞ͕ŽƌůŽĐĂůůĂǁƐ͕ŽƌĚŝŶĂŶĐĞƐ͕ƌƵůĞƐ͕Žƌ % ƌĞŐƵůĂƚŝŽŶƐ͘ ůůĚĞůŝǀĞƌĂďůĞƐĐŽǀĞƌĞĚďǇƉƌŽŐƌĞƐƐƉĂǇŵĞŶƚƐŵĂĚĞďǇ/dzǁŝůůďĞĐŽŵĞƚŚĞƐŽůĞƉƌŽƉĞƌƚǇŽĨ/dz͘dŚŝƐƉƌŽǀŝƐŝŽŶŵƵƐƚ & ŶŽƚďĞĐŽŶƐƚƌƵĞĚĂƐƌĞůŝĞǀŝŶŐE'/EZĨƌŽŵƐŽůĞƌĞƐƉŽŶƐŝďŝůŝƚǇĨŽƌƐĞƌǀŝĐĞƐĂŶĚĚĞůŝǀĞƌĂďůĞƐƵƉŽŶǁŚŝĐŚƉĂǇŵĞŶƚƐŚĂǀĞ ďĞĞŶŵĂĚĞŽƌƚŚĞƌĞƐƚŽƌĂƚŝŽŶŽĨĂŶǇĚĂŵĂŐĞĚǁŽƌŬŽƌĂƐǁĂŝǀŝŶŐƚŚĞƌŝŐŚƚŽĨ/dzƚŽƌĞƋƵŝƌĞƚŚĞĨƵůĨŝůůŵĞŶƚŽĨĂůůŽĨƚŚĞ ƚĞƌŵƐŽĨƚŚŝƐŽŶƚƌĂĐƚ͘/ĨƚŚĞ/dzƵƐĞƐƚŚĞE'/EZ͛ƐĚĞůŝǀĞƌĂďůĞƐŝŶĂŵĂŶŶĞƌďĞǇŽŶĚƚŚĞƐĐŽƉĞŽĨƚŚŝƐĐŽŶƚƌĂĐƚ͕ŝƚ ƐŚĂůůŝŶĚĞŵŶŝĨǇE'/EZĨŽƌĐůĂŝŵƐƌĞƐƵůƚŝŶŐĨƌŽŵƚŚŝƐƌĞƵƐĞ͘dŚĞ/dzŐƌĂŶƚƐE'/EZĂŶŽŶͲĞǆĐůƵƐŝǀĞůŝĐĞŶƐĞ͕ƚŽƚŚĞ ĞǆƚĞŶƚŽĨƚŚĞ/dz͛ƐƌŝŐŚƚƐŝŶƐƵĐŚĚĂƚĂ͕ƚŽƵƐĞƚŚĞE'/EZĂƚĂĨŽƌŽƚŚĞƌƉƵƌƉŽƐĞƐ͘ EŽƚŚŝŶŐŝŶƚŚŝƐŽŶƚƌĂĐƚŵƵƐƚďĞĐŽŶƐƚƌƵĞĚŝŶĂŶǇǁĂǇƚŽƌĞůŝĞǀĞE'/EZĨƌŽŵŝƚƐŽďůŝŐĂƚŝŽŶƚŽĐŽŵƉůĞƚĞƚŚĞƐĞƌǀŝĐĞƐ ' ĂŶĚͬŽƌĚĞůŝǀĞƌĂďůĞƐĚĞƐĐƌŝďĞĚŝŶƚŚŝƐŽŶƚƌĂĐƚĨŽƌĂƐƵŵŶŽƚƚŽĞǆĐĞĞĚƚŚĂƚŝƐƐĞƚĨŽƌƚŚŝŶƚŚĞ^ƉĞĐŝĂůŽŶĚŝƚŝŽŶƐ͘ E'/EZŝƐŶŽƚĂƵƚŚŽƌŝǌĞĚƚŽĚŝƌĞĐƚƚŚĞǁŽƌŬŽĨŽŶƚƌĂĐƚŽƌ͕ƵŶůĞƐƐŝƚǇŝƐŐŝǀĞŶƐƵĐŚĂƵƚŚŽƌŝƚǇ͕ŝŶǁƌŝƚŝŶŐ͕ďǇKǁŶĞƌ͘ ( E'/EZĐŽŵŵƵŶŝĐĂƚŝŽŶƐŚĂůůďĞĚŝƌĞĐƚůǇǁŝƚŚKǁŶĞƌ͛ƐƌĞƉƌĞƐĞŶƚĂƚŝǀĞ;ŽŶƐƚƌƵĐƚŝŽŶĨŽƌĞŵĞŶŽƌƐƵƉĞƌŝŶƚĞŶĚĞŶƚŽƌ ŽƚŚĞƌŵĞŵďĞƌŝĚĞŶƚŝĨŝĞĚĂƐWƌŽũĞĐƚDĂŶĂŐĞƌͿ͕ĂŶĚƚŽŝƚǇŶŐŝŶĞĞƌŽƌŚŝƐĚĞƐŝŐŶĞĞ͘ ^^/'EDEd $57,&/(ĞĚŝŶƚŚŝƐ ŽŶƚƌĂĐƚ͘ ĐŽƉǇŽĨĂŶǇĂŶĚĂůůƐƵďĐŽŶƐƵůƚĂŶƚĐŽŶƚƌĂĐƚƐŵƵƐƚďĞƐĞŶƚƚŽƚŚĞ/dz͛ƐƵƚŚŽƌŝǌĞĚŐĞŶƚĂĨƚĞƌĞǆĞĐƵƚŝŽŶŽĨƚŚĞƐƵď % ĐŽŶƐƵůƚĂŶƚĐŽŶƚƌĂĐƚĂŶĚƉƌŝŽƌƚŽǁŽƌŬƐƚĂƌƚŝŶŐƵŶĚĞƌƚŚĞƐƵďĐŽŶƐƵůƚĂŶƚĐŽŶƚƌĂĐƚ͘ DEDEd^͕,E'KZZ^͕DZ'Z͕KhEdZWZd^͕Et/sZ $57,&/( ŵĞŶĚŵĞŶƚƐƚŽƚŚŝƐŽŶƚƌĂĐƚǁŝůůďĞĐŽŶƐŝĚĞƌĞĚŽŶůǇĨŽƌƵŶĨŽƌĞƐĞĞŶǁŽƌŬŽƌƐĞƌǀŝĐĞƐƚŚĂƚǁĞƌĞĞǆĐůƵĚĞĚŝŶƚŚĞ^ĐŽƉĞŽĨ $ tŽƌŬ͕ĞŶƚŝƚůĞĚ͞ĞƚĂŝůĞĚ^ĐŽƉĞŽĨtŽƌŬ͕͟ĂŶĚƚŚĂƚĂƌĞĐŽŶƐŝĚĞƌĞĚĞƐƐĞŶƚŝĂůƚŽƚŚĞǁŽƌŬ͘ŶǇǁƌŝƚƚĞŶĐůĂŝŵŵĂĚĞďǇ E'/EZĨŽƌĞǆƚƌĂǁŽƌŬŽƌĐŽƐƚƐƵŶĚĞƌƚŚŝƐŽŶƚƌĂĐƚƚŚĂƚŚĂƐďĞĞŶĂƉƉƌŽǀĞĚďǇƚŚĞ/dzΖƐƵƚŚŽƌŝǌĞĚŐĞŶƚŵƵƐƚďĞ ĞǀŝĚĞŶĐĞĚďǇĂŶĂŵĞŶĚŵĞŶƚƚŽƚŚŝƐŽŶƚƌĂĐƚ͘ŵĞŶĚŵĞŶƚƐŵƵƐƚďĞŝŶǁƌŝƚŝŶŐĂŶĚĞǆĞĐƵƚĞĚĂŶĚĂƉƉƌŽǀĞĚďǇƚŚĞƐĂŵĞ ƉĂƌƚŝĞƐĂŶĚŽĨĨŝĐŝĂůƐǁŚŽĞǆĞĐƵƚĞĚĂŶĚĂƉƉƌŽǀĞĚƚŚĞŽƌŝŐŝŶĂůŽŶƚƌĂĐƚ͕ŽƌƚŚĞŝƌƐƵĐĐĞƐƐŽƌƐŝŶŽĨĨŝĐĞ͘E'/EZŵƵƐƚŶŽƚŝĨǇ /dz͛ƐWƌŽũĞĐƚDĂŶĂŐĞƌŝŶǁƌŝƚŝŶŐŝĨE'/EZǁŝůůďĞĚĞůĂǇĞĚŝŶĂŶǇǁĂǇĨƌŽŵĐŽŵƉůĞƚŝŶŐƚŚĞƉƌŽũĞĐƚƵŶĚĞƌƚŚŝƐŽŶƚƌĂĐƚ͘ dŚĞǁŽƌŬƚŽďĞĚŽŶĞŝŶĐŽŶŶĞĐƚŝŽŶǁŝƚŚƚŚŝƐŽŶƚƌĂĐƚŵĂǇďĞĐŚĂŶŐĞĚĂƚƚŚĞƌĞƋƵĞƐƚŽĨ/dz͕ǁŝƚŚƚŚĞŵƵƚƵĂůĐŽŶĐƵƌƌĞŶĐĞ % ŽĨE'/EZ͘ŶǇĐŚĂŶŐĞǁŝůůďĞĐůĞĂƌůǇĂŶĚĨƵůůǇĚĞĨŝŶĞĚŝŶǁƌŝƚŝŶŐ͕ĂŶĚĂƉƉƌŽǀĞĚďǇďŽƚŚƉĂƌƚŝĞƐ͘ŚĂŶŐĞŽƌĚĞƌƐŵƵƐƚ ďĞĐŽŶƐŝƐƚĞŶƚǁŝƚŚƚŚĞďĂƐŝĐƉƵƌƉŽƐĞŽĨƚŚŝƐŽŶƚƌĂĐƚĂŶĚǁŝƚŚŝŶƚŚĞŐĞŶĞƌĂů^ĐŽƉĞŽĨ^ĞƌǀŝĐĞƐŝĚĞŶƚŝĨŝĞĚŝŶƚŚĞ^ƉĞĐŝĂů ŽŶĚŝƚŝŽŶƐ͘ dŚŝƐŽŶƚƌĂĐƚĐŽŶƐƚŝƚƵƚĞƐƚŚĞĞŶƚŝƌĞĂŐƌĞĞŵĞŶƚďĞƚǁĞĞŶƚŚĞƉĂƌƚŝĞƐ͘EŽǁĂŝǀĞƌ͕ĐŽŶƐĞŶƚ͕ŵŽĚŝĨŝĐĂƚŝŽŶŽƌĐŚĂŶŐĞŽĨƚĞƌŵƐ & ŽĨƚŚŝƐŽŶƚƌĂĐƚƐŚĂůůďŝŶĚĞŝƚŚĞƌƉĂƌƚǇƵŶůĞƐƐŝŶǁƌŝƚŝŶŐĂŶĚƐŝŐŶĞĚďǇďŽƚŚƉĂƌƚŝĞƐ͘^ƵĐŚǁĂŝǀĞƌ͕ĐŽŶƐĞŶƚ͕ŵŽĚŝĨŝĐĂƚŝŽŶŽƌ ĐŚĂŶŐĞ͕ŝĨŵĂĚĞ͕ƐŚĂůůďĞĞĨĨĞĐƚŝǀĞŽŶůǇŝŶƚŚĞƐƉĞĐŝĨŝĐŝŶƐƚĂŶĐĞĂŶĚĨŽƌƚŚĞƐƉĞĐŝĨŝĐƉƵƌƉŽƐĞŐŝǀĞŶ͘dŚĞƌĞĂƌĞŶŽ ƵŶĚĞƌƐƚĂŶĚŝŶŐƐ͕ĂŐƌĞĞŵĞŶƚƐŽƌƌĞƉƌĞƐĞŶƚĂƚŝŽŶƐ͕ŽƌĂůŽƌǁƌŝƚƚĞŶ͕ŶŽƚƐƉĞĐŝĨŝĞĚŚĞƌĞŝŶƌĞŐĂƌĚŝŶŐƚŚŝƐŽŶƚƌĂĐƚ͘E'/EZ͕ ďǇƚŚĞƐŝŐŶĂƚƵƌĞďĞůŽǁŽĨŝƚƐĂƵƚŚŽƌŝǌĞĚƌĞƉƌĞƐĞŶƚĂƚŝǀĞ͕ŚĞƌĞďǇĂĐŬŶŽǁůĞĚŐĞƐƚŚĂƚƚŚĞE'/EZŚĂƐƌĞĂĚƚŚŝƐŽŶƚƌĂĐƚ͕ ƵŶĚĞƌƐƚĂŶĚƐŝƚĂŶĚĂŐƌĞĞƐƚŽďĞďŽƵŶĚďǇŝƚƐƚĞƌŵƐĂŶĚĐŽŶĚŝƚŝŽŶƐ͘ dŚŝƐŽŶƚƌĂĐƚŵĂǇďĞĞǆĞĐƵƚĞĚŝŶŽŶĞŽƌŵŽƌĞĐŽƵŶƚĞƌƉĂƌƚƐ͕ĞĂĐŚŽĨǁŚŝĐŚƐŚĂůůďĞĚĞĞŵĞĚƚŽďĞĂŶŽƌŝŐŝŶĂů͕ďƵƚĂůůŽĨ ' ǁŚŝĐŚƚŽŐĞƚŚĞƌƐŚĂůůĐŽŶƐƚŝƚƵƚĞƚŚĞƐĂŵĞŽŶƚƌĂĐƚ͘ 3DFNHW3J )F KDW>/Et/d,>/E^^͕WZD/d^͕EKd,ZZ'h>d/KE^ $57,&/( E'/EZƐŚĂůůƉƌŽĐƵƌĞĂůůůŝĐĞŶƐĞƐ͕ĐĞƌƚŝĨŝĐĂƚŝŽŶƐ͕ĞĚƵĐĂƚŝŽŶ͕ƉĞƌŵŝƚƐ͕ŽƌŽƚŚĞƌƌŝŐŚƚƐŶĞĐĞƐƐĂƌǇƚŽĨƵůĨŝůůŝƚƐŽďůŝŐĂƚŝŽŶƐ $ ƵŶĚĞƌƚŚŝƐŽŶƚƌĂĐƚŝŶĐŽŵƉůŝĂŶĐĞǁŝƚŚĂůůĂƉƉůŝĐĂďůĞĨĞĚĞƌĂůĂŶĚƐƚĂƚĞůĂǁƐ͘ dWZd/^E/Ed>>dh>WZKWZdz $57,&/( dŚĞDŝŶŶĞƐŽƚĂ'ŽǀĞƌŶŵĞŶƚĂƚĂWƌĂĐƚŝĐĞƐĐƚ͕DŝŶŶĞƐŽƚĂ^ƚĂƚƵƚĞƐŚĂƉƚĞƌϭϯ͕ĂƉƉůŝĞƐƚŽĂůůĚĂƚĂĐƌĞĂƚĞĚ͕ŐĂƚŚĞƌĞĚ͕ $ ŐĞŶĞƌĂƚĞĚ͕ŽƌĂĐƋƵŝƌĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚŝƐŽŶƚƌĂĐƚ͘ ŶǇƌĞƉŽƌƚƐ͕ƐƚƵĚŝĞƐ͕ƉŚŽƚŽŐƌĂƉŚƐ͕ŶĞŐĂƚŝǀĞƐ͕ŽƌŽƚŚĞƌĚŽĐƵŵĞŶƚƐĐƌĞĂƚĞĚĂŶĚƉĂŝĚĨŽƌďǇE'/EZŝŶƚŚĞƉĞƌĨŽƌŵĂŶĐĞ % ŽĨŝƚƐŽďůŝŐĂƚŝŽŶƐƵŶĚĞƌƚŚŝƐŽŶƚƌĂĐƚĂƌĞŝŶƐƚƌƵŵĞŶƚƐŽĨƐĞƌǀŝĐĞŝŶƌĞƐƉĞĐƚƚŽE'/EZ͛ƐƐĞƌǀŝĐĞƐĂŶĚĂƌĞƚŚĞĞǆĐůƵƐŝǀĞ ƉƌŽƉĞƌƚǇŽĨ/dz͘E'/EZŵƵƐƚƌĞŵŝƚĂůůƐƵĐŚŵĂƚĞƌŝĂůƐƚŽ/dzƵƉŽŶĐŽŵƉůĞƚŝŽŶŽƌĐĂŶĐĞůůĂƚŝŽŶŽĨƚŚŝƐŽŶƚƌĂĐƚ͘dŚĞ /dzǁŝůůŝŶĚĞŵŶŝĨǇE'/EZĨŽƌĐůĂŝŵƐƌĞƐƵůƚŝŶŐĨƌŽŵĂŶǇƌĞƵƐĞŽĨƐƵĐŚŵĂƚĞƌŝĂůƐďĞǇŽŶĚƚŚĞƐĐŽƉĞŽĨƚŚŝƐŽŶƚƌĂĐƚ͘ dŚĞŝƚǇƐŚĂůůŐƌĂŶƚƚŚĞE'/EZĂŶŽŶͲĞǆĐůƵƐŝǀĞůŝĐĞŶƐĞ͕ƚŽƚŚĞĞǆƚĞŶƚŽĨƚŚĞ/dzΖƐƌŝŐŚƚƐŝŶƐƵĐŚĚĂƚĂ͕ƚŽƵƐĞƚŚĞ E'/EZĂƚĂĨŽƌŽƚŚĞƌƉƵƌƉŽƐĞƐ͘E'/EZǁĂŝǀĞƐĂůůĐůĂŝŵƐĂŐĂŝŶƐƚƚŚĞ/dzƌĞƐƵůƚŝŶŐŝŶĂŶǇǁĂǇĨƌŽŵĂŶǇƌĞƵƐĞŽĨ ƚŚĞE'/EZ͘ hŶůĞƐƐŽƚŚĞƌǁŝƐĞĚŝƌĞĐƚĞĚďǇ/dz͕ƚŚĞŽƌŝŐŝŶĂůƐŽĨƌĞƉŽƌƚƐ͕ƚĞƐƚƐ͕ĚƌĂǁŝŶŐƐĂŶĚƉůĂŶƐ͖ĂŶĚůĞŐŝďůǇƌĞƉƌŽĚƵĐŝďůĞĐŽƉŝĞƐŽĨ & ǁŽƌŬƐŚĞĞƚƐ͕ĨŝĞůĚŶŽƚĞƐ͕ĐŽŵƉƵƚĂƚŝŽŶƐ͕ƉŚŽƚŽƐ͕ƚĞƐƚƌĞƐƵůƚƐ͕ĂŶĚŽƚŚĞƌƉƌŽũĞĐƚĚĂƚĂŵƵƐƚďĞƌĞůŝŶƋƵŝƐŚĞĚƚŽ/dz͗ ϭ͘hƉŽŶǁƌŝƚƚĞŶŶŽƚŝĐĞŽĨĐŽŵƉůĞƚŝŽŶŽƌĐĂŶĐĞůůĂƚŝŽŶŽĨƚŚŝƐŽŶƚƌĂĐƚ͘ Ϯ͘hƉŽŶǁƌŝƚƚĞŶŶŽƚŝĨŝĐĂƚŝŽŶďǇ/dz͘ ϯ͘WƌŝŽƌƚŽĨŝŶĂůƉĂǇŵĞŶƚďǇ/dzƚŽE'/EZĨŽƌƚŚŝƐŽŶƚƌĂĐƚ͘ ͘EŽƚǁŝƚŚƐƚĂŶĚŝŶŐƚŚĞĂďŽǀĞƉĂƌĂŐƌĂƉŚƐ͕ǁŽƌŬƉĂƉĞƌƐ͕ƉƌŽƉƌŝĞƚĂƌǇŝŶĨŽƌŵĂƚŝŽŶ͕ƉƌŽĐĞƐƐĞƐ͕ŵĞƚŚŽĚŽůŽŐŝĞƐ͕ŬŶŽǁͲŚŽǁĂŶĚ ƐŽĨƚǁĂƌĞ;͞E'/EZĂƚĂ͟ͿƉƌĞǀŝŽƵƐůǇďĞůŽŶŐŝŶŐŽƌůŝĐĞŶƐĞĚƚŽE'/EZĂŶĚƵƐĞĚƚŽƉĞƌĨŽƌŵE'/EZ͛ƐƐĞƌǀŝĐĞƐƐŚĂůů ƌĞŵĂŝŶƚŚĞƉƌŽƉĞƌƚǇŽĨE'/EZ͘E'/EZƐŚĂůůƌĞƚĂŝŶĂŶŽǁŶĞƌƐŚŝƉĂŶĚƉƌŽƉĞƌƚǇŝŶƚĞƌĞƐƚƚŚĞƌĞŝŶ;ŝŶĐůƵĚŝŶŐƚŚĞĐŽƉǇƌŝŐŚƚ ĂŶĚƚŚĞƌŝŐŚƚŽĨƌĞƵƐĞĂƚƚŚĞĚŝƐĐƌĞƚŝŽŶŽĨƚŚĞE'/EZͿ͕ǁŚĞƚŚĞƌŽƌŶŽƚƚŚĞWƌŽũĞĐƚŝƐĐŽŵƉůĞƚĞĚ͘dŽƚŚĞĞǆƚĞŶƚƚŚĞƐĞƌǀŝĐĞƐ ƉĞƌĨŽƌŵĞĚďǇE'/EZĐŽŶƚĂŝŶE'/EZĂƚĂ͕E'/EZŚĞƌĞďǇŐƌĂŶƚƐƚŽ/dzĂŶŽŶͲĞǆĐůƵƐŝǀĞ͕ŶŽŶͲĂƐƐŝŐŶĂďůĞ͕ƌŽǇĂůƚǇͲ ĨƌĞĞ͕ŝƌƌĞǀŽĐĂďůĞůŝĐĞŶƐĞƚŽƵƐĞƐƵĐŚE'/EZĂƚĂĨŽƌƚŚĞƉƵƌƉŽƐĞƐƐĞƚĨŽƌƚŚŚĞƌĞŝŶ͕ƐƵďũĞĐƚƚŽƚŚĞĨŽůůŽǁŝŶŐůŝŵŝƚĂƚŝŽŶƐ͗ ƐƵĐŚE'/EZĂƚĂĂƌĞŶŽƚŝŶƚĞŶĚĞĚŽƌƌĞƉƌĞƐĞŶƚĞĚƚŽďĞƐƵŝƚĂďůĞĨŽƌƵƐĞŽƌƌĞƵƐĞďǇ/dzŽŶĞǆƚĞŶƐŝŽŶŽĨƚŚĞWƌŽũĞĐƚŽƌ ŽŶĂŶǇŽƚŚĞƌƉƌŽũĞĐƚǁŝƚŚŽƵƚǁƌŝƚƚĞŶǀĞƌŝĨŝĐĂƚŝŽŶŽƌĂĚĂƉƚĂƚŝŽŶďǇE'/EZĂŶĚĂŶǇƐƵĐŚƌĞƵƐĞŽƌŵŽĚŝĨŝĐĂƚŝŽŶŽĨƚŚĞ E'/EZĂƚĂǁŝƚŚŽƵƚƚŚĞǁƌŝƚƚĞŶǀĞƌŝĨŝĐĂƚŝŽŶŽƌĂĚĂƉƚĂƚŝŽŶďǇE'/EZƐŚĂůůďĞĚŽŶĞĂƚ/dz͛ƐƐŽůĞƌŝƐŬĂŶĚǁŝƚŚŽƵƚ ůŝĂďŝůŝƚǇƚŽE'/EZ͘ >//>/dz $57,&/( 'ĞŶĞƌĂůͲ,ĂǀŝŶŐĐŽŶƐŝĚĞƌĞĚƚŚĞƉŽƚĞŶƚŝĂůůŝĂďŝůŝƚŝĞƐƚŚĂƚŵĂǇĞǆŝƐƚĚƵƌŝŶŐƚŚĞƉĞƌĨŽƌŵĂŶĐĞŽĨƚŚĞ^ĞƌǀŝĐĞƐ͕ƚŚĞďĞŶĞĨŝƚƐ $ ŽĨƚŚĞƉƌŽũĞĐƚ͕ĂŶĚƚŚĞE'/EZ͛ƐĨĞĞĨŽƌƚŚĞ^ĞƌǀŝĐĞƐ͕ĂŶĚŝŶĐŽŶƐŝĚĞƌĂƚŝŽŶŽĨƚŚĞƉƌŽŵŝƐĞƐĐŽŶƚĂŝŶĞĚŝŶƚŚŝƐŽŶƚƌĂĐƚ͕ /dzĂŶĚE'/EZĂŐƌĞĞƚŽĂůůŽĐĂƚĞĂŶĚůŝŵŝƚƐƵĐŚůŝĂďŝůŝƚŝĞƐŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚŝƐƌƚŝĐůĞ͘ /ŶĚĞŵŶŝĨŝĐĂƚŝŽŶͲE'/EZĂŶĚ/dz;ƚŚĞ͞/ŶĚĞŵŶŝĨǇŝŶŐWĂƌƚǇ͟ͿƐŚĂůůďĞůŝĂďůĞĨŽƌŝƚƐŽǁŶŶĞŐůŝŐĞŶƚĂĐƚƐ͕ĞƌƌŽƌƐĂŶĚ % ŽŵŝƐƐŝŽŶƐƚŽƚŚĞĞǆƚĞŶƚƉƌŽǀŝĚĞĚďǇůĂǁĂŶĚƐƵďũĞĐƚƚŽƚŚĞ/dz͛ƐĐĂƉŽŶŵƵŶŝĐŝƉĂůƚŽƌƚůŝĂďŝůŝƚǇƵŶĚĞƌDŝŶŶĞƐŽƚĂ^ƚĂƚƵƚĞƐ ^ĞĐƚŝŽŶϰϲϲ͘Ϭϰ͕ĂŶĚŚĞƌĞďǇĂŐƌĞĞƐƚŽĚĞĨĞŶĚ͕ŝŶĚĞŵŶŝĨǇ͕ĂŶĚŚŽůĚŚĂƌŵůĞƐƐƚŚĞŽƚŚĞƌ;͞ƚŚĞ/ŶĚĞŵŶŝĨŝĞĚWĂƌƚǇ͟Ϳ͕ĨƌŽŵ ĂŶǇůŝĂďŝůŝƚǇ͕ĚĂŵĂŐĞƐ͕ĂŶĚĐŽƐƚƐĂƌŝƐŝŶŐĨƌŽŵƚŚĞŶĞŐůŝŐĞŶƚĂĐƚƐŽĨE'/EZĂŶĚ/dzĂŶĚĂŶǇŽŶĞĨŽƌǁŚŽƐĞŶĞŐůŝŐĞŶƚ ĂĐƚƐƚŚĞǇŵĂǇďĞůŝĂďůĞĨŽƌŝŶƚŚĞƉĞƌĨŽƌŵĂŶĐĞŽĨƉƌŽĨĞƐƐŝŽŶĂůƐĞƌǀŝĐĞƐƌĞƋƵŝƌĞĚƵŶĚĞƌƚŚŝƐŽŶƚƌĂĐƚǁŚŝĐŚƚŚĞ/ŶĚĞŵŶŝĨŝĞĚ WĂƌƚǇ͕ŝƚƐŽĨĨŝĐĞƌƐĂŶĚĞŵƉůŽǇĞĞƐŵĂǇŚĞƌĞĂĨƚĞƌƐƵƐƚĂŝŶ͕ŝŶĐƵƌŽƌďĞƌĞƋƵŝƌĞĚƚŽƉĂǇƚŽƚŚĞĨƵůůĞĨĨĞĐƚƉƌŽǀŝĚĞĚďǇ DŝŶŶĞƐŽƚĂ^ƚĂƚƵƚĞƐŚĂƉƚĞƌϯϯϳ͕ƚŽƚŚĞĞǆƚĞŶƚƚŚĞE'/EZĂŶĚ/dzĂƌĞƌĞƐƉŽŶƐŝďůĞĨŽƌƐƵĐŚůŝĂďŝůŝƚǇ͕ĐŽƐƚƐ͕ĚĂŵĂŐĞƐ͕ ŝŶĐůƵĚŝŶŐƌĞĂƐŽŶĂďůĞĂƚƚŽƌŶĞǇƐ͛ĨĞĞƐ͘/ŶƚŚĞĞǀĞŶƚĐůĂŝŵƐ͕ůŽƐƐĞƐ͕ĚĂŵĂŐĞƐ͕ŽƌĞǆƉĞŶƐĞƐĂƌĞĐĂƵƐĞĚďǇƚŚĞũŽŝŶƚŽƌ ĐŽŶĐƵƌƌĞŶƚŶĞŐůŝŐĞŶĐĞŽĨE'/EZĂŶĚ/dz͕ƚŚĞǇƐŚĂůůďĞďŽƌŶĞďǇĞĂĐŚƉĂƌƚǇŝŶƉƌŽƉŽƌƚŝŽŶƚŽŝƚƐŽǁŶŶĞŐůŝŐĞŶĐĞ͘ ^ƵƌǀŝǀĂůͲhƉŽŶĐŽŵƉůĞƚŝŽŶŽĨĂůůƐĞƌǀŝĐĞƐ͕ŽďůŝŐĂƚŝŽŶƐ͕ĂŶĚĚƵƚŝĞƐƉƌŽǀŝĚĞĚĨŽƌŝŶƚŚŝƐŽŶƚƌĂĐƚ͕ŽƌŝĨƚŚŝƐŽŶƚƌĂĐƚŝƐ & ƚĞƌŵŝŶĂƚĞĚĨŽƌĂŶǇƌĞĂƐŽŶ͕ƚŚĞƚĞƌŵƐĂŶĚĐŽŶĚŝƚŝŽŶƐŽĨƚŚŝƐƌƚŝĐůĞƐŚĂůůƐƵƌǀŝǀĞ͘ 3DFNHW3J )F tKZ<Z^ΖKDWE^d/KE $57,&/( ŶǇĂŶĚĂůůĞŵƉůŽǇĞĞƐŽĨE'/EZ͕ŝŶĐůƵĚŝŶŐŝƚƐƐƵďĐŽŶƐƵůƚĂŶƚƐ͕ŽƌŽƚŚĞƌƉĞƌƐŽŶƐǁŚŝůĞĞŶŐĂŐĞĚŝŶƚŚĞƉĞƌĨŽƌŵĂŶĐĞŽĨ $ ĂŶǇǁŽƌŬŽƌƐĞƌǀŝĐĞƐƌĞƋƵŝƌĞĚďǇE'/EZƵŶĚĞƌƚŚŝƐŽŶƚƌĂĐƚ͕ǁŝůůŶŽƚďĞĐŽŶƐŝĚĞƌĞĚĞŵƉůŽǇĞĞƐŽĨ/dz͘ŶǇĂŶĚĂůů ĐůĂŝŵƐƚŚĂƚŵĂǇĂƌŝƐĞƵŶĚĞƌƚŚĞtŽƌŬĞƌƐΖŽŵƉĞŶƐĂƚŝŽŶĐƚŽĨDŝŶŶĞƐŽƚĂŽŶďĞŚĂůĨŽĨƐĂŝĚĞŵƉůŽǇĞĞƐ͕ŽƌŽƚŚĞƌƉĞƌƐŽŶƐ ǁŚŝůĞƐŽĞŶŐĂŐĞĚ͕ĂŶĚĂŶǇĂŶĚĂůůĐůĂŝŵƐŵĂĚĞďǇĂŶǇƚŚŝƌĚƉĂƌƚǇĂƐĂĐŽŶƐĞƋƵĞŶĐĞŽĨĂŶǇĂĐƚŽƌŽŵŝƐƐŝŽŶŽŶƚŚĞƉĂƌƚŽĨ E'/EZΖƐĞŵƉůŽǇĞĞƐ͕ŽƌŽƚŚĞƌƉĞƌƐŽŶǁŚŝůĞƐŽĞŶŐĂŐĞĚŽŶĂŶǇŽĨƚŚĞǁŽƌŬŽƌƐĞƌǀŝĐĞƐƚŽďĞƌĞŶĚĞƌĞĚ͕ǁŝůůŝŶŶŽǁĂǇ ďĞƚŚĞŽďůŝŐĂƚŝŽŶŽƌƌĞƐƉŽŶƐŝďŝůŝƚǇŽĨ/dz͘WƵƌƐƵĂŶƚƚŽDŝŶŶĞƐŽƚĂ^ƚĂƚƵƚĞƐϭϳϲ͘ϭϴϮ͕ĂĐĐĞƉƚĂďůĞĞǀŝĚĞŶĐĞŽĨĐŽŵƉůŝĂŶĐĞ ǁŝƚŚtŽƌŬĞƌƐ͛ŽŵƉĞŶƐĂƚŝŽŶŝŶƐƵƌĂŶĐĞĐŽǀĞƌĂŐĞƌĞƋƵŝƌĞŵĞŶƚƐŵƵƐƚďĞƉƌĞƐĞŶƚĞĚƚŽ/dzďĞĨŽƌĞ/dzŵĂǇĞŶƚĞƌŝŶƚŽĂ ĐŽŶƚƌĂĐƚǁŝƚŚE'/EZ͘ KE^ $57,&/( dŚŝƐƌƚŝĐůĞŝƐŚĞƌĞďǇĚĞůĞƚĞĚ͘ /E^hZE $57,&/( ĐĞƌƚŝĨŝĐĂƚĞŽĨŝŶƐƵƌĂŶĐĞĨŽƌĞĂĐŚƚǇƉĞŽĨŝŶƐƵƌĂŶĐĞƌĞƋƵŝƌĞĚƵŶĚĞƌƚŚŝƐŽŶƚƌĂĐƚŵƵƐƚďĞĨŝůĞĚǁŝƚŚƚŚĞ/dz͛ƐƵƚŚŽƌŝǌĞĚ $ ŐĞŶƚƉƌŝŽƌƚŽĞǆĞĐƵƚŝŽŶŽĨƚŚĞŽŶƚƌĂĐƚďǇŝƚǇ͘ĂĐŚƉŽůŝĐǇŵƵƐƚĐŽŶƚĂŝŶĂƌĞƋƵŝƌĞŵĞŶƚƚŚĂƚƚŚĞŝŶƐƵƌĞƌƉƌŽǀŝĚĞƚŚĞ /dzĂϯϬͲĚĂǇŶŽƚŝĐĞŽĨĐĂŶĐĞůůĂƚŝŽŶ͘ E'/EZŵƵƐƚŵĂŝŶƚĂŝŶĂŶĚĨƵƌŶŝƐŚƐĂƚŝƐĨĂĐƚŽƌǇĞǀŝĚĞŶĐĞŽĨƚŚĞĨŽůůŽǁŝŶŐŝŶƐƵƌĂŶĐĞƉŽůŝĐŝĞƐ͗ % ϭ͘E'/EZƐŚĂůůƉƌŽĐƵƌĞĂŶĚŵĂŝŶƚĂŝŶĨŽƌƚŚĞƚĞƌŵŽĨƚŚĞŽŶƚƌĂĐƚ͕ŝŶƐƵƌĂŶĐĞĐŽǀĞƌĂŐĞĂƐŝƐƌĞĂƐŽŶĂďůĞĂŶĚŶĞĐĞƐƐĂƌǇ ĨŽƌƉĞƌĨŽƌŵĞĚƐĞƌǀŝĐĞƐďǇE'/EZĂŶĚŝƚƐĞŵƉůŽǇĞĞƐ͘ Ϯ͘dŚĞE'/EZƐŚĂůůďĞƌĞƐƉŽŶƐŝďůĞĨŽƌŽďƚĂŝŶŝŶŐƐĞƉĂƌĂƚĞĐĞƌƚŝĨŝĐĂƚĞƐĂŶĚĞŶĚŽƌƐĞŵĞŶƚƐĨŽƌĞĂĐŚƐƵďĐŽŶƐƵůƚĂŶƚ͘ E'/EZƐŚĂůůĚĞƚĞƌŵŝŶĞƚŚĞĂƉƉƌŽƉƌŝĂƚĞůĞǀĞůŽĨŝŶƐƵƌĂŶĐĞĐŽǀĞƌĂŐĞĂŶĚůŝŵŝƚƐĨƌŽŵŝƚƐƐƵďĐŽŶƐƵůƚĂŶƚƐ͘ tŽƌŬĞƌƐΖŽŵƉĞŶƐĂƚŝŽŶ/ŶƐƵƌĂŶĐĞ͗ ϯ͘E'/EZǁŝůůƉƌŽǀŝĚĞtŽƌŬĞƌƐ͛ŽŵƉĞŶƐĂƚŝŽŶŝŶƐƵƌĂŶĐĞĨŽƌĂůůE'/EZ ĞŵƉůŽǇĞĞƐĂŶĚ͕ŝŶĐĂƐĞĂŶǇǁŽƌŬŝƐƐƵďĐŽŶƚƌĂĐƚĞĚ͕E'/EZǁŝůůƌĞƋƵŝƌĞƚŚĞƐƵďĐŽŶƐƵůƚĂŶƚƚŽƉƌŽǀŝĚĞtŽƌŬĞƌƐ͛ ŽŵƉĞŶƐĂƚŝŽŶŝŶƐƵƌĂŶĐĞŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞƐƚĂƚƵƚŽƌǇƌĞƋƵŝƌĞŵĞŶƚƐŽĨ/dzŽĨDŝŶŶĞƐŽƚĂ͕ĂŶĚŝŶĐůƵĚŝŶŐŽǀĞƌĂŐĞ ͕ŵƉůŽǇĞƌ͛Ɛ>ŝĂďŝůŝƚǇ͕ĂƚůŝŵŝƚƐŶŽƚůĞƐƐƚŚĂŶΨϭϬϬ͕ϬϬϬ͘ϬϬďŽĚŝůǇŝŶũƵƌǇďǇĚŝƐĞĂƐĞƉĞƌĞŵƉůŽǇĞĞ͖ΨϱϬϬ͕ϬϬϬ͘ϬϬďŽĚŝůǇ ŝŶũƵƌǇďǇĚŝƐĞĂƐĞĂŐŐƌĞŐĂƚĞ͖ĂŶĚΨϭϬϬ͕ϬϬϬ͘ϬϬďŽĚŝůǇŝŶũƵƌǇďǇĂĐĐŝĚĞŶƚ͘ǀŝĚĞŶĐĞŽĨƐƵďĐŽŶƐƵůƚĂŶƚ͚ƐŝŶƐƵƌĂŶĐĞƐŚĂůů ďĞĨŝůĞĚǁŝƚŚƚŚĞE'/EZ͘ ŽŵŵĞƌĐŝĂů'ĞŶĞƌĂů>ŝĂďŝůŝƚǇ͗ ϰ͘E'/EZǁŝůůŵĂŝŶƚĂŝŶŝŶƐƵƌĂŶĐĞƉƌŽƚĞĐƚŝŶŐE'/EZĨƌŽŵĐůĂŝŵƐĨŽƌĚĂŵĂŐĞƐĨŽƌ ďŽĚŝůǇŝŶũƵƌǇ͕ŝŶĐůƵĚŝŶŐƐŝĐŬŶĞƐƐŽƌĚŝƐĞĂƐĞ͕ĚĞĂƚŚ͕ĂŶĚĨŽƌĐĂƌĞĂŶĚůŽƐƐŽĨƐĞƌǀŝĐĞƐĂƐǁĞůůĂƐĨƌŽŵĐůĂŝŵƐĨŽƌƉƌŽƉĞƌƚǇ ĚĂŵĂŐĞŝŶĐůƵĚŝŶŐůŽƐƐŽĨƵƐĞǁŚŝĐŚŵĂǇĂƌŝƐĞĨƌŽŵŽƉĞƌĂƚŝŽŶƐƵŶĚĞƌƚŚŝƐŽŶƚƌĂĐƚǁŚĞƚŚĞƌƐƵĐŚŽƉĞƌĂƚŝŽŶƐďĞďǇ E'/EZŽƌďǇĂƐƵďĐŽŶƐƵůƚĂŶƚŽƌďǇĂŶǇŽŶĞĚŝƌĞĐƚůǇŽƌŝŶĚŝƌĞĐƚůǇĞŵƉůŽǇĞĚƵŶĚĞƌƚŚŝƐŽŶƚƌĂĐƚ͘E'/EZ͛Ɛ ůŝĂďŝůŝƚǇŝŶƐƵƌĂŶĐĞƐŚĂůůďĞƉƌŝŵĂƌǇƚŽĂŶǇůŝĂďŝůŝƚǇŝŶƐƵƌĂŶĐĞŵĂŝŶƚĂŝŶĞĚďǇƚŚĞŝƚǇ͘hŶůĞƐƐŽƚŚĞƌǁŝƐĞƐƉĞĐŝĨŝĞĚǁŝƚŚŝŶ ƚŚŝƐŽŶƚƌĂĐƚ͕E'/EZ͛ƐŝŶƐƵƌĂŶĐĞŵŝŶŝŵƵŵĂŵŽƵŶƚƐǁŝůůďĞĂƐĨŽůůŽǁƐ͗ Ψϭ͕ϬϬϬ͕ϬϬϬ͘ϬϬͲƉĞƌŽĐĐƵƌƌĞŶĐĞ D Ψϭ͕ϬϬϬ͕ϬϬϬ͘ϬϬͲĂŶŶƵĂůĂŐŐƌĞŐĂƚĞ E /ŶĂĚĚŝƚŝŽŶ͕ƚŚĞĨŽůůŽǁŝŶŐĐŽǀĞƌĂŐĞƐƐŚŽƵůĚďĞŝŶĐůƵĚĞĚ͗ ŽĚŝůǇ/ŶũƵƌǇĂŶĚWƌŽƉĞƌƚǇĂŵĂŐĞ D WƌŽĚƵĐƚƐĂŶĚŽŵƉůĞƚĞĚKƉĞƌĂƚŝŽŶƐ>ŝĂďŝůŝƚǇ E ůĂŶŬĞƚŽŶƚƌĂĐƚƵĂů>ŝĂďŝůŝƚǇ F EĂŵĞ/dzĂƐĂŶĚĚŝƚŝŽŶĂů/ŶƐƵƌĞĚ G ŽŵŵĞƌĐŝĂůƵƚŽŵŽďŝůĞ>ŝĂďŝůŝƚǇ͗ ϱ͘E'/EZǁŝůůŵĂŝŶƚĂŝŶŝŶƐƵƌĂŶĐĞƉƌŽƚĞĐƚŝŶŐE'/EZĨƌŽŵĐůĂŝŵƐĨŽƌĚĂŵĂŐĞƐ ĨŽƌďŽĚŝůǇŝŶũƵƌǇ͕ŝŶĐůƵĚŝŶŐƐŝĐŬŶĞƐƐŽƌĚŝƐĞĂƐĞ͕ĚĞĂƚŚ͕ĂŶĚĨŽƌĐĂƌĞĂŶĚůŽƐƐŽĨƐĞƌǀŝĐĞƐ͕ĂƐǁĞůůĂƐĨƌŽŵĐůĂŝŵƐĨŽƌ 3DFNHW3J )F ƉƌŽƉĞƌƚǇĚĂŵĂŐĞŝŶĐůƵĚŝŶŐůŽƐƐŽĨƵƐĞǁŚŝĐŚŵĂǇĂƌŝƐĞĨƌŽŵŽƉĞƌĂƚŝŽŶƐƵŶĚĞƌƚŚŝƐŽŶƚƌĂĐƚǁŚĞƚŚĞƌƐƵĐŚŽƉĞƌĂƚŝŽŶƐ ǁĞƌĞďǇE'/EZŽƌďǇƐƵďĐŽŶƐƵůƚĂŶƚŽƌďǇĂŶǇŽŶĞĚŝƌĞĐƚůǇŽƌŝŶĚŝƌĞĐƚůǇĞŵƉůŽǇĞĚƵŶĚĞƌƚŚŝƐŽŶƚƌĂĐƚ͘hŶůĞƐƐ ŽƚŚĞƌǁŝƐĞƐƉĞĐŝĨŝĞĚǁŝƚŚŝŶƚŚŝƐŽŶƚƌĂĐƚ͕ƚŚĞE'/EZŝŶƐƵƌĂŶĐĞŵŝŶŝŵƵŵĂŵŽƵŶƚƐǁŝůůďĞĂƐĨŽůůŽǁƐ͗ Ψϭ͕ϬϬϬ͕ϬϬϬ͘ϬϬͲƉĞƌŽĐĐƵƌƌĞŶĐĞŽŵďŝŶĞĚ^ŝŶŐůĞůŝŵŝƚĨŽƌŽĚŝůǇ/ŶũƵƌǇĂŶĚWƌŽƉĞƌƚǇĂŵĂŐĞ /ŶĂĚĚŝƚŝŽŶ͕ƚŚĞĨŽůůŽǁŝŶŐĐŽǀĞƌĂŐĞƐƐŚŽƵůĚďĞŝŶĐůƵĚĞĚ͗ KǁŶĞĚ͕,ŝƌĞĚ͕ĂŶĚEŽŶͲŽǁŶĞĚ EĂŵĞ/dzĂƐĂŶĚĚŝƚŝŽŶĂů/ŶƐƵƌĞĚ WƌŽĨĞƐƐŝŽŶĂů>ŝĂďŝůŝƚǇ/ŶƐƵƌĂŶĐĞ͗ ϲ͘ hŶůĞƐƐŽƚŚĞƌǁŝƐĞƐƉĞĐŝĨŝĞĚǁŝƚŚŝŶƚŚŝƐŽŶƚƌĂĐƚ͕E'/EZŝŶƐƵƌĂŶĐĞŵŝŶŝŵƵŵĂŵŽƵŶƚƐǁŝůůďĞĂƐĨŽůůŽǁƐ͗ Ψϭ͕ϬϬϬ͕ϬϬϬ͘ϬϬͲƉĞƌĐůĂŝŵ Ψϭ͕ϬϬϬ͕ϬϬϬ͘ϬϬͲĂŶŶƵĂůĂŐŐƌĞŐĂƚĞ dŚŝƐƉŽůŝĐǇǁŝůůƉƌŽǀŝĚĞĐŽǀĞƌĂŐĞĨŽƌĂůůĐůĂŝŵƐE'/EZǁŝůůďĞĐŽŵĞůĞŐĂůůǇŽďůŝŐĂƚĞĚƚŽƉĂǇƌĞƐƵůƚŝŶŐĨƌŽŵĂŶǇ ĂĐƚƵĂůŽƌĂůůĞŐĞĚŶĞŐůŝŐĞŶƚĂĐƚ͕ĞƌƌŽƌ͕ŽƌŽŵŝƐƐŝŽŶƌĞůĂƚĞĚƚŽE'/EZΖƐƉƌŽĨĞƐƐŝŽŶĂůƐĞƌǀŝĐĞƐƌĞƋƵŝƌĞĚƵŶĚĞƌƚŚŝƐ ŽŶƚƌĂĐƚ͘ E'/EZŵƵƐƚ͗ & ϭ͘/ŶĐůƵĚĞůĞŐĂůĚĞĨĞŶƐĞĨĞĞƐŝŶĂĚĚŝƚŝŽŶƚŽŝƚƐůŝĂďŝůŝƚǇƉŽůŝĐǇůŝŵŝƚƐ͕ǁŝƚŚƚŚĞĞǆĐĞƉƚŝŽŶŽĨWƌŽĨĞƐƐŝŽŶĂů>ŝĂďŝůŝƚǇ/ŶƐƵƌĂŶĐĞ ĂďŽǀĞ͖ĂŶĚ Ϯ͘KďƚĂŝŶŝŶƐƵƌĂŶĐĞƉŽůŝĐŝĞƐĨƌŽŵĂŶŝŶƐƵƌĂŶĐĞĐŽŵƉĂŶǇŚĂǀŝŶŐĂŶΗD^dΗƌĂƚŝŶŐŽĨͲs///ŽƌďĞƚƚĞƌ͘ /dzƌĞƐĞƌǀĞƐƚŚĞƌŝŐŚƚƚŽŝŵŵĞĚŝĂƚĞůǇƌĞƐĐŝŶĚƚŚŝƐŽŶƚƌĂĐƚŝĨE'/EZŝƐŶŽƚŝŶĐŽŵƉůŝĂŶĐĞǁŝƚŚƚŚĞŝŶƐƵƌĂŶĐĞ ' ƌĞƋƵŝƌĞŵĞŶƚƐĂŶĚƌĞƚĂŝŶƐĂůůƌŝŐŚƚƐƚŽƉƵƌƐƵĞĂŶǇůĞŐĂůƌĞŵĞĚŝĞƐĂŐĂŝŶƐƚE'/EZ͘hƉŽŶǁƌŝƚƚĞŶƌĞƋƵĞƐƚďǇƚŚĞ/dzΖƐ ƵƚŚŽƌŝǌĞĚŐĞŶƚ͕ĂůůŝŶƐƵƌĂŶĐĞƉŽůŝĐŝĞƐƐŚĂůůďĞŽƉĞŶƚŽŝŶƐƉĞĐƚŝŽŶ͕ĂŶĚĐŽƉŝĞƐŽĨƉŽůŝĐŝĞƐŵĂǇďĞƌĞƋƵĞƐƚĞĚ͘ >/sZ>^dEZ^ $57,&/( /dzǁŝůůŚĂǀĞƚŚĞĂƵƚŚŽƌŝƚǇƚŽĚŝƐĂƉƉƌŽǀĞŽƌƌĞũĞĐƚƐĞƌǀŝĐĞƐŽƌĚĞůŝǀĞƌĂďůĞƐƚŚĂƚĂƌĞĚĞĨĞĐƚŝǀĞ͘E'/EZǁŝůůďĞ $ ƌĞƐƉŽŶƐŝďůĞĨŽƌƚŚĞĂĐĐƵƌĂĐǇŽĨŝƚƐǁŽƌŬƵŶĚĞƌƚŚŝƐŽŶƚƌĂĐƚĂŶĚŵƵƐƚŵĂŬĞƚŝŵĞůǇƌĞǀŝƐŝŽŶƐŽƌĐŽƌƌĞĐƚŝŽŶƐǁŝƚŚŽƵƚ ĐŽŵƉĞŶƐĂƚŝŽŶƌĞƐƵůƚŝŶŐĨƌŽŵĞƌƌŽƌƐĂŶĚŽŵŝƐƐŝŽŶƐŽŶƚŚĞƉĂƌƚŽĨE'/EZ͘dŚĞƐĞƌǀŝĐĞƐŽƌĚĞůŝǀĞƌĂďůĞƐƉƌŽǀŝĚĞĚƚŽ/dz ďǇE'/EZŵƵƐƚďĞŽĨƐƵĐŚƋƵĂůŝƚǇƚŚĂƚƚŚĞǇĂƌĞƐƵŝƚĂďůĞĨŽƌƚŚĞŝƌŝŶƚĞŶĚĞĚƉƵƌƉŽƐĞ͘ E'/EZ͛ƐƐĞƌǀŝĐĞƐĂŶĚĐŽŵƉĞŶƐĂƚŝŽŶƵŶĚĞƌƚŚŝƐŽŶƚƌĂĐƚŚĂǀĞďĞĞŶĂŐƌĞĞĚƚŽŝŶĂŶƚŝĐŝƉĂƚŝŽŶŽĨƚŚĞŽƌĚĞƌůǇĂŶĚ % ĐŽŶƚŝŶƵŽƵƐƉƌŽŐƌĞƐƐŽĨƚŚĞWƌŽũĞĐƚƚŚŽƵŐŚĐŽŵƉůĞƚŝŽŶ͘hŶůĞƐƐƐƉĞĐŝĨŝĐƉĞƌŝŽĚƐŽĨƚŝŵĞŽƌƐƉĞĐŝĨŝĐĚĂƚĞƐĨŽƌƉƌŽǀŝĚŝŶŐ ƐĞƌǀŝĐĞƐĂƌĞƐƉĞĐŝĨŝĞĚŝŶƚŚŝƐŽŶƚƌĂĐƚ͕E'/EZ͛ƐŽďůŝŐĂƚŝŽŶƚŽƌĞŶĚĞƌƐĞƌǀŝĐĞƐŚĞƌĞƵŶĚĞƌǁŝůůďĞĨŽƌĂƉĞƌŝŽĚǁŚŝĐŚŵĂǇ ƌĞĂƐŽŶĂďůǇďĞƌĞƋƵŝƌĞĨŽƌƚŚĞĐŽŵƉůĞƚŝŽŶŽĨƐĂŝĚƐĞƌǀŝĐĞƐ͘ /ĨŝŶƚŚŝƐŽŶƚƌĂĐƚƐƉĞĐŝĨŝĐƉĞƌŝŽĚƐŽĨƚŝŵĞĨŽƌƌĞŶĚĞƌŝŶŐƐĞƌǀŝĐĞƐĂƌĞƐĞƚĨŽƌƚŚŽƌƐƉĞĐŝĨŝĐĚĂƚĞƐďǇǁŚŝĐŚƐĞƌǀŝĐĞƐĂƌĞƚŽďĞ & ĐŽŵƉůĞƚĞĚĂƌĞƉƌŽǀŝĚĞĚ͕ĂŶĚŝĨƐƵĐŚƉĞƌŝŽĚƐŽĨƚŝŵĞŽƌĚĂƚĞƐĂƌĞĐŚĂŶŐĞĚƚŚƌŽƵŐŚŶŽĨĂƵůƚŽĨE'/EZ͕ƚŚĞƌĂƚĞƐĂŶĚ ĂŵŽƵŶƚƐŽĨĐŽŵƉĞŶƐĂƚŝŽŶƉƌŽǀŝĚĞĚĨŽƌŚĞƌĞŝŶƐŚĂůůďĞƐƵďũĞĐƚƚŽĞƋƵŝƚĂďůĞĂĚũƵƐƚŵĞŶƚ͘/Ĩ/dzŚĂƐƌĞƋƵĞƐƚĞĚĐŚĂŶŐĞƐŝŶ ƚŚĞƐĐŽƉĞ͕ĞǆƚĞŶƚ͕ŽƌĐŚĂƌĂĐƚĞƌŽĨƚŚĞWƌŽũĞĐƚ͖ƚŚĞƚŝŵĞŽĨƉĞƌĨŽƌŵĂŶĐĞŽĨE'/EZ͛ƐƐĞƌǀŝĐĞƐƐŚĂůůďĞĂĚũƵƐƚĞĚĞƋƵŝƚĂďůǇ͘ EĞŝƚŚĞƌƉĂƌƚǇǁŝůůďĞŚĞůĚƌĞƐƉŽŶƐŝďůĞĨŽƌĚĞůĂǇŽƌĨĂŝůƵƌĞƚŽƉĞƌĨŽƌŵǁŚĞŶƐƵĐŚĚĞůĂǇŽƌĨĂŝůƵƌĞŝƐĚƵĞƚŽĂŶǇŽĨƚŚĞ ' ĨŽůůŽǁŝŶŐ͕ƵŶůĞƐƐƚŚĞĂĐƚŽƌŽĐĐƵƌƌĞŶĐĞĐŽƵůĚŚĂǀĞďĞĞŶƌĞĂƐŽŶĂďůǇĨŽƌĞƐĞĞŶĂŶĚƌĞĂƐŽŶĂďůĞĂĐƚŝŽŶĐŽƵůĚŚĂǀĞďĞĞŶ ƚĂŬĞŶƚŽƉƌĞǀĞŶƚƚŚĞĚĞůĂǇŽƌĨĂŝůƵƌĞ͗ĨŝƌĞ͕ĨůŽŽĚ͕ĞƉŝĚĞŵŝĐ͕ƐƚƌŝŬĞƐ͕ǁĂƌƐ͕ĂĐƚƐŽĨ'ŽĚ͕ƵŶƵƐƵĂůůǇƐĞǀĞƌĞǁĞĂƚŚĞƌ͕ŽƌĚĞůĂǇƐ ŽƌĚĞĨĂƵůƚƐĐĂƵƐĞĚďǇƉƵďůŝĐĐĂƌƌŝĞƌƐ͕ƉƌŽǀŝĚĞĚƚŚĞĚĞĨĂƵůƚŝŶŐƉĂƌƚǇŐŝǀĞƐǁƌŝƚƚĞŶŶŽƚŝĐĞĂƐƐŽŽŶĂƐƉŽƐƐŝďůĞƚŽƚŚĞŽƚŚĞƌ ƉĂƌƚǇŽĨŝƚƐŝŶĂďŝůŝƚǇƚŽƉĞƌĨŽƌŵ͘ &ŽƌƉƵƌƉŽƐĞƐŽĨƚŚŝƐŽŶƚƌĂĐƚƚŚĞƚĞƌŵ͞ĚĂǇ͟ŵĞĂŶƐĂĐĂůĞŶĚĂƌĚĂǇŽĨϮϰŚŽƵƌƐ͘ ( 3DFNHW3J )F Ed/dZh^d $57,&/(ƌĞĐƚŝŽŶƐ $ ƌĞƐƵůƚŝŶŐĨƌŽŵE'/EZΖƐŶĞŐůŝŐĞŶƚĂĐƚƐ͕ĞƌƌŽƌƐ͕ŽƌŽŵŝƐƐŝŽŶƐǁŝƚŚŽƵƚĂĚĚŝƚŝŽŶĂůĐŽŵƉĞŶƐĂƚŝŽŶ͘ĐĐĞƉƚĂŶĐĞŽĨƚŚĞǁŽƌŬ ďǇ/dzǁŝůůŶŽƚƌĞůŝĞǀĞE'/EZŽĨƚŚĞƌĞƐƉŽŶƐŝďŝůŝƚǇĨŽƌƐƵďƐĞƋƵĞŶƚĐŽƌƌĞĐƚŝŽŶŽĨĂŶǇĞƌƌŽƌƐŽƌŽŵŝƐƐŝŽŶƐŽƌĨŽƌ ĐůĂƌŝĨŝĐĂƚŝŽŶŽĨĂŶǇĂŵďŝŐƵŝƚŝĞƐ͘ /ĨŶĞŐůŝŐĞŶƚĂĐƚƐ͕ĞƌƌŽƌƐ͕ŽƌŽŵŝƐƐŝŽŶƐĂƌĞŵĂĚĞďǇE'/EZŝŶĂŶǇƉŚĂƐĞŽĨƚŚĞǁŽƌŬ͕ƚŚĞĐŽƌƌĞĐƚŝŽŶŽĨǁŚŝĐŚŵĂǇ % ƌĞƋƵŝƌĞĂĚĚŝƚŝŽŶĂůĨŝĞůĚŽƌŽĨĨŝĐĞǁŽƌŬ͕E'/EZǁŝůůďĞƉƌŽŵƉƚůǇŶŽƚŝĨŝĞĚďǇ/dzĂŶĚǁŝůůďĞƌĞƋƵŝƌĞĚƚŽƉĞƌĨŽƌŵƐƵĐŚ ĂĚĚŝƚŝŽŶĂůǁŽƌŬĂƐŵĂǇďĞŶĞĐĞƐƐĂƌǇƚŽĐŽƌƌĞĐƚƚŚĞƐĞŶĞŐůŝŐĞŶƚĂĐƚƐ͕ĞƌƌŽƌƐ͕ŽƌŽŵŝƐƐŝŽŶƐǁŝƚŚŽƵƚƵŶĚƵĞĚĞůĂǇĂŶĚ ǁŝƚŚŽƵƚĂĚĚŝƚŝŽŶĂůĐŽƐƚƚŽ/dz͘/ĨƚŚĞE'/EZŝƐĂǁĂƌĞŽĨĂŶǇŶĞŐůŝŐĞŶƚĂĐƚƐ͕ĞƌƌŽƌƐ͕ŽƌŽŵŝƐƐŝŽŶƐŵĂĚĞŝŶĂŶǇƉŚĂƐĞ ŽĨŝƚƐǁŽƌŬ͕ƚŚĞĐŽƌƌĞĐƚŝŽŶƐŽĨǁŚŝĐŚŵĂǇƌĞƋƵŝƌĞĂŶǇĂĚĚŝƚŝŽŶĂůĨŝĞůĚŽƌŽĨĨŝĐĞǁŽƌŬ͕E'/EZŵƵƐƚƉƌŽŵƉƚůǇƉĞƌĨŽƌŵ 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