Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My WebLink
About
December 1, 2025 Agenda Packet
! " ! " + *" $+ $$ "C 7 " " # 6 % # $ 7 $ ! >2; *+ .*.$!"/''*/)%'.%.3*/)%',*$!-.!,()#*0 9 4XHVWLRQV"&RQWDFWWKH&LW\&OHUN¶V2IILFH (. &'( ) &LW\&RXQFLO1RYHPEHU 1RUPDQ:DKO3UHVHQW $QG\)ULHGHULFKV3UHVHQW 6KDXQ3DOPHU3UHVHQW 'DQ'RHULQJ3UHVHQW .LP1RUWRQ3UHVHQW & &LW\$GPLQLVWUDWRU¶V5HSRUW ' 0D\RU¶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¶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±+RXUVRI:RUN +RXUVRIZRUNWKDWFRQVWLWXWHRYHUWLPHFRPSHQVDWLRQVKDOOEHJRYHUQHGE\WKH & )DLU/DERU6WDQGDUGV$FWRUE\WKHSURYLVLRQVRIWKLV$JUHHPHQW$OOKRXUV ZRUNHGLQH[FHVVRIIRUW\ SHUZHHNE\QRQVKLIWHPSOR\HHVVKDOOEH FRQVLGHUHGDVRYHUWLPHKRXUV$OOKRXUVZRUNHGLQH[FHVVRIWZHQW\IRXU KRXUVSHUVKLIWE\VKLIWHPSOR\HHVVKDOOEHFRQVLGHUHGDVRYHUWLPHKRXUV7KH UDWHIRURYHUWLPHIRUQRQVKLIWHPSOR\HHVVKDOOEHWKHHPSOR\HH¶VVDODU\GLYLGHG E\WZRWKRXVDQGHLJKW\ WLPHVRQHDQGRQHKDOI ò 7KHUDWHIRU RYHUWLPHIRUVKLIWHPSOR\HHVVKDOOEHWKHHPSOR\HH¶VVDODU\GLYLGHGE\WZR WKRXVDQGQLQHKXQGUHGWZHOYH WLPHVRQHSRLQWVL[WKUHH :KHQ DVKLIWHPSOR\HHLVWHPSRUDULO\DVVLJQHGWRDKRXUZRUNZHHNIRUWUDLQLQJ SXUSRVHVWKH\VKDOOUHFHLYHRYHUWLPHIRUDOOKRXUVZRUNHGLQH[FHVVRIIRUW\ SHUZHHNDWRQHDQGRQHKDOI ò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¶VVFKHGXOHGVWDUW DQGHQGWLPHIRUSXUSRVHVRIWKLV$JUHHPHQWLVWR _3DJH $UWLFOH±+ROLGD\V [[305,374,318,427][11][,I,][Arial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´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±,QVXUDQFH $ 7REHHOLJLEOHIRUWKHEHQHILWVSURYLGHGE\WKLV$UWLFOHHPSOR\PHQWPXVWEHVFKHGXOHGWR ODVWIRUPRUHWKDQWZHOYH PRQWKVDQGWZHQW\ KRXUVSHUZHHN(OLJLEOHHPSOR\HHV ZRUNLQJPRUHWKDQWZHQW\ KRXUVEXWOHVVWKDQIRUW\ KRXUVSHUZHHNZLOOHDUQSUR UDWHGLQVXUDQFHEHQHILWV % 7KH&LW\ZLOOSURYLGHWHUPOLIHLQVXUDQFHLQDQDPRXQWHTXDOWRWZR WLPHVWKHHPSOR\HH¶V DQQXDOEDVHVDODU\URXQGHGWRWKHQH[WKLJKHVWWKRXVDQGDVRXWOLQHGLQWKHPDVWHUSROLF\ RQILOHLQWKH&LW\&OHUN¶V2IILFH & 7KH&LW\ZLOOSURYLGHJURXSPHGLFDOLQVXUDQFHWRHOLJLEOHHPSOR\HHVDQGSD\DSRUWLRQRI WKHWRWDOSUHPLXPDVIROORZV %DVLF0HGLFDO3ODQ7LHU(IIHFWLYH(IIHFWLYHDSD\UROOGHGXFWLRQ7KHHPSOR\HHFRQWULEXWLRQWRZDUGVWKHFRVWRI [[417,2611,1155,2664][11][,I,][Arial]]FRYHUDJH V LVGLYLGHGDPRQJWZHQW [[1153,2611,1179,2664][11][,I,][Arial]]\ [[1176,2611,1191,2664][11][,I,][Arial]] [[1191,2611,2147,2664][11][,I,][Arial]]IRXU SD\SHULRGV1RSD\UROOGHGXFWLRQLV [[2149,2611,2162,2664][11][,I,][Arial]] [[417,2663,1281,2716][11][,I,][Arial]]WDNHQRQWKHWKLUGSD\SHULRGLQDQ\PRQWK [[1282,2663,1295,2715][11][,,][Arial]] [[1294,2663,1307,2715][11][,,][Arial]] 'VW 0HGLFDODQGGHQWDOFRYHUDJHIRUHOLJLEOHQHZHPSOR\HHVZLOOEHHIIHFWLYHWKHILUVW RI WKHPRQWKIROORZLQJWKHLUKLUHGDWH _3DJH ( 7KH&LW\VKDOOFRQWULEXWHWKHIROORZLQJDPRXQWVWRD+HDOWK6DYLQJV$FFRXQW +6$ IRUDOO EHQHILWHOLJLEOHHPSOR\HHVVHOHFWLQJWKH+LJK'HGXFWLEOH+HDOWK3ODQ +'+3 FRYHUDJH +LJK'HGXFWLEOH0HGLFDO3ODQ$QQXDO&RQWULEXWLRQWR+6$ (PSOR\HH2QO\ (PSOR\HH6SRXVH (PSOR\HH&KLOG UHQ )DPLO\ [[529,802,2095,855][11][,I,][Arial]] 7KHDQQXDOFRQWULEXWLRQWRWKH+6$DFFRXQWLVSDLGRXWRYHUWKHILUVWWZRSD\ [[529,854,853,907][11][,I,][Arial]]SHULRGVRIHDFK [[854,854,1433,907][11][,I,][Arial]]PRQWK SD\SHULRGVWRWDO [[1434,854,1447,907][11][,I,][Arial]] 1 $UWLFOH:DJHV (IIHFWLYHWKHILUVW VW GD\RIWKHILUVW VW IXOOSD\SHULRGVLQ-DQXDU\WKHIROORZLQJZDJH DGMXVWPHQWVZLOOEHPDGH $SSHQGL[$ ±*HQHUDO:DJH$GMXVWPHQWRQDOO6WHSVDQG-RE&ODVVLILFDWLRQV JHQHUDOZDJHLQFUHDVHIRUDOOVWHSVRIWKHZDJHVFKHGXOHVIRUDOOUHSUHVHQWHGMRE FODVVLILFDWLRQV 0DUNHW$GMXVWPHQW $IWHUWKHDSSOLFDWLRQRIWKHJHQHUDOZDJHDGMXVWPHQWWKH6WHS$6WDUWUDWHVKDOOEHLQFUHDVHG DVIROORZV x SHUKRXUIRU)LUHILJKWHU 6KLIW DQG x HLQWKHLUFXUUHQW VW FODVVLILFDWLRQZLOOPRYHWRWKHQHZWRSVWHS 6WHS* RQWKHVWDUWRIWKHILUVW IXOOSD\ SHULRGRI-DQXDU\$OORWKHUVZLOOPRYHWRWKHQHZWRSVWHS 6WHS* RQWKHVWDUW RIWKHSD\SHULRGFORVHVWWRWKHLUDQQLYHUVDU\GDWHIROORZLQJWZHOYH PRQWKVRI VHUYLFHLQWKHLUFXUUHQWFODVVLILFDWLRQDWWKHSULRUWRSVWHS 6WHS) x $OORWKHUFODVVHVZLWKILYH RUPRUH\HDUVRIVHUYLFHLQWKHLUFXUUHQWFODVVLILFDWLRQZLOO VW PRYHWRWKHQHZWRSVWHS 6WHS) RQWKHVWDUWRIWKHILUVW IXOOSD\SHULRGLQ-DQXDU\ _3DJH $OORWKHUVZLOOPRYHWRWKHQHZWRSVWHS 6WHS) RQWKHVWDUWRIWKHSD\SHULRG FORVHVWWRWKHLUDQQLYHUVDU\GDWHIROORZLQJWKUHH \HDUVRIVHUYLFHLQWKHLUFXUUHQW FODVVLILFDWLRQDWWKHSULRUWRSVWHS 6WHS& ,IDQRWKHUEDUJDLQLQJXQLWQHJRWLDWHVDJHQHUDODFURVVWKHERDUGLQFUHDVHJUHDWHUWKDQ IRUWKHSDUWLHVZLOOUHRSHQWRPHHWDQGQHJRWLDWHWKHJHQHUDOZDJHDGMXVWPHQW $UWLFOH±5HVSRQVH7LPH 8SRQIXOOUDWLILFDWLRQRIWKHVXFFHVVRUDJUHHPHQWWKH&LW\DJUHHVWRGHOHWHWKHUHVSRQVH WLPH62*DQGUHFRPPHQGWKH)LUH&LYLO6HUYLFH&RPPLVVLRQUHSHDOWKHUHVSRQVHWLPH UHTXLUHPHQWIURP)LUH&LYLO6HUYLFH&RPPLVVLRQ5XOHDQG5HJXODWLRQV6HFWLRQ $UWLFOH±:RUNLQJRXWRI&ODVVLILFDWLRQ ' :KHQD&DSWDLQZRUNVDVD%DWWDOLRQ&KLHIRUD)LUH,QVSHFWRUDVVXPHVWKH$VVLVWDQW )LUH0DUVKDOGXWLHVRUDQ$VVLVWDQW)LUH0DUVKDODVVXPHVWKH)LUH0DUVKDOGXWLHVRIWKH 'HSXW\&KLHI)LUH$GPLQLVWUDWLRQRUWKH&DSWDLQRI(PHUJHQF\0DQDJHPHQWDVVXPHVWKH GXWLHVRIWKH$VVLVWDQW&KLHIRI(PHUJHQF\0DQDJHPHQWWKH\VKDOOEHSDLGDQDGGLWLRQDO WHQSHUFHQW RIWKH&DSWDLQ VRUWKH$VVLVWDQW)LUH0DUVKDO¶VFXUUHQWKRXUO\UDWHRI SD\ 3HUVRQQHOUHTXLUHGWRZRUNRQDVSHFLDODVVLJQPHQWDVDXWKRUL]HGE\WKH)LUH ( &KLHIDQGFRYHUHGE\WKLV$JUHHPHQWVKDOOUHFHLYHDILYHSHUFHQW ZDJH DGMXVWPHQWDVDSSURYHGE\WKH)LUH&KLHI$VSHFLDODVVLJQPHQWLVDSURMHFWRI GHILQHGRUOLPLWHGGXUDWLRQWKDWWKH)LUH&KLHIGHWHUPLQHVLVQHHGHGWRUHVSRQGWR DPDQGDWHGSURFHGXUDORUSURMHFWGHDGOLQH $UWLFOH±3ULRU6HUYLFH&UHGLW [[305,2033,318,2085][11][B,I,][Arial]] 7KLVSURYLVLRQLVLQWHQGHGWRHQFRXUDJHH[SHULHQFHGILUHILJKWHUVIURPRWKHUDJHQFLHVWRVHHN HPSOR\PHQWZLWKWKH5RFKHVWHU)LUH'HSDUWPHQW$WWKHGLVFUHWLRQRIWKH&KLHIEDVHGRQDQ DSSOLFDQW¶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±'XUDWLRQRI$JUHHPHQW 7KH$JUHHPHQWVKDOOEHHIIHFWLYH-DQXDU\DQGVKDOOUHPDLQLQHIIHFWWKURXJK 'HFHPEHU 7KLV$JUHHPHQWVKDOOEHDXWRPDWLFDOO\UHQHZHGIURP\HDUWR\HDUWKHUHDIWHUXQOHVV HLWKHUSDUW\ZLVKHVWRUHRSHQQHJRWLDWLRQV(LWKHUSDUW\PD\UHRSHQQHJRWLDWLRQVE\ VW QRWLI\LQJWKHRWKHUSDUW\LQZULWLQJRIWKHLULQWHQWLRQE\0D\ILUVW RIWKHFXUUHQW FRQWUDFW\HDU $SSHQGL[$ :$*(6 (IIHFWLYHWKH)LUVW)XOO3D\3HULRGLQ-DQXDU\RI(DFK<HDU _3DJH [[1091,436,1122,483][10][B,I,][Arial]]$ [[1271,436,1302,483][10][B,I,][Arial]]% [[1449,436,1481,483][10][B,I,][Arial]]& [[1628,436,1659,483][10][B,I,][Arial]]' [[1809,436,1839,483][10][B,I,][Arial]]( [[1988,436,2017,483][10][B,I,][Arial]]) [[346,496,581,543][10][B,I,][Arial]]&ODVVLILFDWLRQ [[1062,496,1147,543][10][B,I,][Arial]]6WDUW [[1230,496,1342,543][10][B,I,][Arial]]<HDU [[1400,496,1529,543][10][B,I,][Arial]]<HDUV [[1579,496,1708,543][10][B,I,][Arial]]<HDUV [[1758,496,1887,543][10][B,I,][Arial]]<HDUV [[1937,496,2066,543][10][B,I,][Arial]]<HDUV )LUHILJKWHU 6KLIW 10][B,I,][Arial]]& [[1628,1574,1659,1621][10][B,I,][Arial]]' [[1809,1574,1839,1621][10][B,I,][Arial]]( [[1988,1574,2017,1621][10][B,I,][Arial]]) [[2165,1574,2198,1621][10][B,I,][Arial]]* [[346,1634,581,1681][10][B,I,][Arial]]&ODVVLILFDWLRQ [[1062,1634,1147,1681][10][B,I,][Arial]]6WDUW [[1230,1634,1342,1681][10][B,I,][Arial]]<HDU [[1400,1634,1529,1681][10][B,I,][Arial]]<HDUV [[1579,1634,1708,1681][10][B,I,][Arial]]<HDUV [[1758,1634,1887,1681][10][B,I,][Arial]]<HDUV [[1937,1634,2066,1681][10][B,I,][Arial]]<HDUV [[2117,1634,2246,1681][10][B,I,][Arial]]<HDUV 7KLV0HPRUDQGXPRI8QGHUVWDQGLQJLVEHWZHHQWKH&LW\RI5RFKHVWHU KHUHDIWHU³&LW\´ DQGWKH ,QWHUQDWLRQDO$VVRFLDWLRQRI)LUH)LJKWHUV/RFDO KHUHDIWHU³8QLRQ´ ZKRD UHSDUWLHVWRD &ROOHFWLYH%DUJDLQLQJ$JUHHPHQW KHUHDIWHU³&%$´ LQHIIHFWIURP-DQXDU\WKURXJK 'HFHPEHU :+(5($6WKH&,7<DQG8QLRQDJUHHWKLV028LVVSHFLILFDOO\OLPLWHGWRWKHSXUSRVHRISURYLGLQJ SDUDPHGLFVHUYLFHVWRSURWHFWHPSOR\HHVDQGFLWL]HQVZLWKLQDUHVWULFWHGDFFHVVDUHDZKHUHRWKHU $GYDQFHG/LIH6XSSRUW KHUHDIWHU$/6 SURYLGHUVZLOOQRWRUFDQQRWRSHUDWH :+(5($6WKH&LW\ZLOOQRWDVVLJQSHUVRQQHOWRSHUIRUPURXWLQHGD\WRGD\$/6WDVN DVVLJQPHQWVXQUHODWHGWRVSHFLDOW\JURXSWDVNVRUDWQRQVSHFLDOW\WHDPLQFLGHQWVZKHUHRWKHU $/6VHUYLFHVDUHDYDLODEOH :+(5($6HPSOR\HHVZKRDUHUHJLVWHUHGSDUDPHGLFVPD\IXQFWLRQDVDQ$/6SURYLGHUZKHQ DVVLJQHGE\WKH)LUH&KLHIWRVHUYHDPHGLFDOUROHGXULQJDVSHFLDOW\JURXSPHGLFDOWUDLQLQJHYHQW 7+(5()25(WKH&LW\DQG8QLRQDJUHHDVIROORZV (PSOR\HHVZKRDUHUHJLVWHUHGSDUDPHGLFVDQGDVVLJQHGE\WKH)LUH&KLHIWRSHUIRUP$/6 WDVNVZKHQQRRWKHU$/6VHUYLFHSURYLGHUZLOOSHUIRUPVDLGWDVNVZLOOEHHOLJLEOHIRUVSHFLDOW\ SD\LQWKHDPRXQWRISHUKRXUIRUDOOKRXUVZRUNHG([FHSWDVSURYLGHGLQSDUDJUDSK QXPEHUEHORZVXFKWDVNVVKDOOLQFOXGHJURXSWUDLQLQJIRUZKLFKDQHPSOR\HHLVDVVLJQHG VSHFLILFDOO\WRSURYLGHRUWUDLQWRSURYLGH$/6VHUYLFHV (PSOR\HHWLPHLQWUDLQLQJWRPHHWWKH(07%DVLFRU(073DUDPHGLFUHFHUWLILFDWLRQ UHTXLUHPHQWVDUHQRWHOLJLEOHIRUVSHFLDOW\SD\ 7KLV028UHSUHVHQWVWKHFRPSOHWHDQGWRWDODJUHHPHQWEHWZHHQWKH(PSOR\HUDQGWKH8QLRQ DQGZLOOFRQWLQXHLQHIIHFWIRUWKHGXUDWLRQRIWKLVFRQWUDFWXQOHVVWHUPLQDWHGE\RQHSDUW\E\ JLYLQJDPLQLPXPRIWKLUW\GD\VDGYDQFHGZULWWHQQRWLFHWRWKHRWKHUSDUW\ &LW\RI5RFKHVWHU,$))/RFDO BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB &LW\$GPLQLVWUDWRU,$))3UHVLGHQW BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB 'LUHFWRU+XPDQ5HVRXUFHV'DWH BBBBBBBBBBBBBBBBBBBBBBBBBBBBB 'DWH [[305,2511,318,2564][11][,I,][Arial]] 0(025$1'802)$*5((0(17 &,7<2)52&+(67(5$1' 7+(,17(51$7,21$/$662&,$7,212)),5(),*+7(56/2&$/ 6+,)73,/27352*5$0 _3DJH 7KLV0HPRUDQGXPRI$JUHHPHQW ³02$´ LVHQWHUHGLQWREHWZHHQWKH&LW\RI5RFKHVWHU KHUHDIWHU³&LW\´ DQGWKH,QWHUQDWLRQDO$VVRFLDWLRQRI)LUHILJKWHUV/RFDO KHUHDIWHU ³8QLRQ´ :+(5($6 WKH&LW\DQGWKH8QLRQDUHSUHVHQWO\SDUWLHVWRD/DERU$JUHHPHQWLQHIIHFW -DQXDU\WKURXJK'HFHPEHUFRYHULQJHPSOR\HHVLQWKHEDUJDLQLQJXQLW WKH³/DERU$JUHHPHQW´ DQG :+(5($6 WKHSDUWLHVDUHLQWKHSURFHVVRIQHJRWLDWLRQWKHVXFFHVVRUWRWKH/DERU $JUHHPHQWDQG :+(5($6 WKHSDUWLHVMRLQWO\FRQGXFWHGDVXUYH\RIVZRUQSHUVRQQHOLQWKH)LUH 'HSDUWPHQWWRGHWHUPLQHWKHLULQWHUHVWLQPRGLI\LQJWKHVKLIWVFKHGXOHDQG :+(5($6 WKHRYHUZKHOPLQJFRQVHQVXVRIWKHVZRUQSHUVRQQHOZDVWRFRQGXFWDSLORW SURJUDPWRXVHZKDWLVFRPPRQO\NQRZQDVWKH³6FKHGXOH´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ôĖıÍČĖIJôώ͕ťēώŽôώ®ώÍIJîώôèĺIJIJôèťώťēôώaĺæĖīĖťƅώbôťſĺŘħώώϼaϟ͏͏͔͒͑Ͻώ ib(ώЭώ([IaIb´ώ"(I@bώFb@(ώi"(ώ>iώii[(ώ"(I@bώ ͐͐ϟ͑͏ϟ͑͏͔͑ώώώώFb@(ώi"(ώώώ ēÍIJČôώiŘîôŘώ Xώ"ôŜèŘĖŕťĖĺIJώıĺŪIJťώŜŜŪıŕťĖĺIJŜώЭώbĺťôŜώώ iIJČĺĖIJČώaώċĺŘώŘôīĖıĖIJÍŘƅώ"ôŜĖČIJϟώĖıôīĖIJôώ ôƄťôIJîôîώċŘĺıώĺŘĖČĖIJÍīώbĺŽôıæôŘώèĺıŕīôťĖĺIJώ ͐ώŘĺĤôèťώaÍIJÍČôıôIJťώώщώώώώώώώώώώώώώ͔Ϡ͏͏͏ϟ͏͏ώώťĺώVÍIJŪÍŘƅϟώ ŪæīĖèώЭώťÍħôēĺīîôŘώēÍŜôώIIώôIJČÍČôıôIJťώťĺώĖIJċĺŘıώŕŘôīĖıĖIJÍŘƅώ ͑ώ(IJČÍČôıôIJťώώщώώώώώώώώώώ͐͒Ϡ͔͏͏ϟ͏͏ώώîôŜĖČIJϟώ èťĖŽôώŘÍIJŜŕĺ؝͝ĖĺIJϠώĺŘŘĖîĺŘώЭώŘôīĖıĖIJÍŘƅώîôŜĖČIJώċĺŘώĖIJťôŘŜôèťĖĺIJώīÍƅĺŪťϠώ ͒ώŘÍċċĖèώIJÍīƅŜĖŜώώщώώώώώώώώώώώώώ͔Ϡ͕͏͏ϟ͏͏ώώťŘÍċċĖèώÍIJÍīƅŜĖŜώèĺĺŘîĖIJÍťĖĺIJϟώ ĺĺŘîώſϯĖťƅώ "ôŕťŜϯťĖīĖťĖôŜϯŪŘŘĺŪIJîĖIJČώŘôīĖıĖIJÍŘƅώîôŜĖČIJώèĺĺŘîĖIJÍťĖĺIJώſĖťēώĖťƅώ ͓ώ )/0 '() *% +,%!$-, $% # " !%" ! " ####"$ %&"!&' '. %&!' ' ! & &&&''$ %& & &' ($ & )'' & &'& & '' & ) * & & % & & $ ) 8 & & & &' & &'' ! -&' $$ $ & !& &'& % '' ! %' ' '$&0 & &' & ' ( & ) 1 "# ),567$0(1'0(177252&+(67(5016325766(59,&(6 $*5((0(17 7KLV)LUVW$PHQGPHQWWRWKH5RFKHVWHU016SRUWV6HUYLFHV$JUHHPHQW ³$PHQGPHQW´ LVPDGHDQGHQWHUHGLQWRDVRIBBBBBBBBBBE\DQG EHWZHHQWKH&LW\RI5RFKHVWHU0LQQHVRWD ³&,7<´ DQG5RFKHVWHU016SRUWV ³&25325$7,21´ FROOHFWLYHO\WKH³3DUWLHV´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#0'27*#0) -!#0 #,",#+'*2-7-30',"'4'"3*-3,!'*+#+ #0±$',"2&#'0#+'*""0#11#1-,2&# &LW\¶VZHEVLWHXQGHU'27-3,!'*±-3,!'*#+ #01 #,",#+'*2-2&#$3**-3,!'*2!'27!-3,!'*0-!#0+,%-4 4XHVWLRQV"&RQWDFWWKH&LW\&OHUN¶V2IILFH 7 '(!) *+ "+ ) . (+ . )" & (& ( 6 " ; "2 +% . 2 % 6 " . .# +. 2 " " 2 . ." 2 ""@ 2 + . . . ."". 2 G * 3 > < ZZZURFKHVWHUPQJRY 1RWH±538%XGJHWHG&,3EDVLVFKDQJHGWRVKRZ7RWDO,QYHVWPHQW WD[OHY\LQFUHDVH 0LOOLRQ JHQHUDOUDWHLQFUHDVHIRU(OHFWULF JHQHUDOUDWHLQFUHDVHIRU:DWHU 0LOOLRQ%XGJHW $OO)XQGV&RPELQHG UDWKHUWKDQ1HW,QYHVWPHQW 6WUHHW6(5RFKHVWHU01 WK ZZZURFKHVWHUPQJRY ZZZURFKHVWHUPQJRY :KHUHGRHVWKH0RQH\&RPH)URP" 6WUHHW6(5RFKHVWHU01 WK 7D[/HY\ 7D[&DSDFLW\ ZZZURFKHVWHUPQJRY 3UHOLPLQDU\7D[/HY\ %XGJHW 3UHOLPLQDU\7D[/HY\ 3UHOLPLQDU\7RWDO%XGJHWPLOOLRQ 6WUHHW6(5RFKHVWHU01 LQFUHDVH WK ZZZURFKHVWHUPQJRY EŽƚĞ͗͞KƚŚĞƌ͟ŝŶĐůƵĚĞƐŝŶĐƌĞĂƐĞƐŝŶhƚŝůŝƚŝĞƐĂŶĚ^ŽĨƚǁĂƌĞDĂŝŶƚĞŶĂŶĐĞ͘/ŶĂĚĚŝƚŝŽŶ͕ƚŚĞƉƌŽũĞĐƚĞĚŝŶĐƌĞĂƐĞƐ %5($.,1*'2:17+(/(9<,1&5($6( ĂďŽǀĞƚŽƚĂůŵŽƌĞƚŚĂŶϵ͘ϰϰйǁŝƚŚƚŚĞĂĚĚŝƚŝŽŶĂůĞdžƉĞŶƐĞƐŽĨĨƐĞƚďLJĂĚĚŝƚŝŽŶĂůŶŽŶͲůĞǀLJƌĞǀĞŶƵĞ͘ 6WUHHW6(5RFKHVWHU01 WK ZZZURFKHVWHUPQJRY &LW\RI5RFKHVWHU3URSHUW\7D[5DWHV VLQFH 6WUHHW6(5RFKHVWHU01 WK 9DOXDWLRQ &LW\%XGJHW3URFHVV&RPELQHG ZZZURFKHVWHUPQJRY 6WUHHW6(5RFKHVWHU01 WK ZZZURFKHVWHUPQJRY 3D\7D[&DSDFLW\E\3URSHUW\ &ODVV±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Ύ/WdŽƚĂů/ŶǀĞƐƚŵĞŶƚŝƐŶŽǁŝŶĐůƵƐŝǀĞŽĨZWhƚŽƚĂůƉƌŽũĞĐƚĐŽƐƚƐŝŶĐůƵĚŝŶŐŽƚŚĞƌĨƵŶĚŝŶŐƐŽƵƌĐĞƐƐƵĐŚĂƐ 0LOOLRQ &,33URMHFWVDV5HYLVHG &DWHJRULHV ƉƌŝǀĂƚĞŝŶǀĞƐƚŵĞŶƚ͕ďŽŶĚƐ͕ŐƌĂŶƚƐ͕ŝŶƚĞƌŶĂůůĂďŽƌ͕ĞƚĐ͘Ϳ 3URMHFWV 6WUHHW6(5RFKHVWHU01 WK ZZZURFKHVWHUPQJRY %LOOLRQ7RWDO 538&,33URMHFWVDV5HYLVHG Ύ/WdŽƚĂů/ŶǀĞƐƚŵĞŶƚŝƐŶŽǁŝŶĐůƵƐŝǀĞŽĨZWhƚŽƚĂůƉƌŽũĞĐƚĐŽƐƚƐŝŶĐůƵĚŝŶŐŽƚŚĞƌĨƵŶĚŝŶŐƐŽƵƌĐĞƐƐƵĐŚ ,QYHVWPHQW &DWHJRULHV ĂƐƉƌŝǀĂƚĞŝŶǀĞƐƚŵĞŶƚ͕ďŽŶĚƐ͕ŐƌĂŶƚƐ͕ŝŶƚĞƌŶĂůůĂďŽƌ͕ĞƚĐ͘Ϳ &,33URMHFWV ZZZURFKHVWHUPQJRY &ĞĞĚďĂĐŬŽŶƚŚĞƵĚŐĞƚ WƵďůŝĐ,ĞĂƌŝŶŐĂŶĚ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ϮϬϮϲͲϮϬϮϳZd^,h> 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( dĂďůĞŽĨŽŶƚĞŶƚƐ Z^/Ed/>^Zs/͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϴ s/>/>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϴ WW>/d/KE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϴ ,ZdZK&^Zs/͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϴ Zd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϴ WKtZK^d:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϴ D/E/DhD/>>͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϴ WzDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϴ KE/d/KE^K&>/sZz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϴ Z^/Ed/>^Zs/Ͳh>&h>ʹůŽƐĞĚ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϵ s/>/>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϵ WW>/d/KE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϵ ,ZdZK&^Zs/͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϵ Zd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϵ WKtZK^d:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϵ D/E/DhD/>>͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϵ WzDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϵ KE/d/KE^K&>/sZz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϵ Z^/Ed/>^Zs/ʹ,/',&&//Ez,sʹůŽƐĞĚ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϬ s/>/>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϬ WW>/d/KE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϬ ,ZdZK&^Zs/͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϬ Zd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϬ WKtZK^d:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϬ D/E/DhD/>>͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϬ WzDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϭ KE/d/KE^K&>/sZz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϭ Z^/Ed/>ʹd/DͲK&Ͳh^͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϮ s/>/>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϮ WW>/d/KE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϮ ,ZdZK&^Zs/͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϮ Zd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϮ WKtZK^d:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϯ D/E/DhD/>>͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϯ WzDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϯ /^dZ/hdEZ'zZ^KhZ^͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϯ KE/d/KE^K&>/sZz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϯ 'EZ>^Zs/͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϰ s/>/>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϰ WW>/d/KE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϰ ,ZdZK&^Zs/͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϰ Zd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϰ WKtZK^d:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϰ D/E/DhD/>>͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϰ WzDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϰ KE/d/KE^K&>/sZz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϰ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( 'EZ>^Zs/Ͳ,/',&&//Ez,sʹůŽƐĞĚ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϱ s/>/>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϱ WW>/d/KE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϱ ,ZdZK&^Zs/͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϱ Zd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϱ WKtZK^d:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϱ D/E/DhD/>>͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϱ WzDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϲ KE/d/KE^K&>/sZz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϲ 'EZ>^Zs/Ͳd/DͲK&Ͳh^͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϳ s/>/>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϳ WW>/d/KE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϳ ,ZdZK&^Zs/͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϳ Zd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϳ WKtZK^d:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϳ D/E/DhD/>>͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϳ WzDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϴ KE/d/KE^K&>/sZz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϴ D/hD'EZ>^Zs/Ͳ^KEZz͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϵ s/>/>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϵ WW>/d/KE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϵ ,ZdZK&^Zs/͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϵ Zd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϵ WKtZK^d:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϵ WKtZ&dKZ:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϵ dZD/Ed/KEK&DE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϮϬ D/E/DhD/>>͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϮϬ WzDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϮϬ KE/d/KE^K&>/sZz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϮϬ D/hD'EZ>^Zs/Ͳ,/',&&//Ez,sʹůŽƐĞĚ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϭ s/>/>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϭ WW>/d/KE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϭ ,ZdZK&^Zs/͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϭ Zd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϭ WKtZK^d:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϮϮ WKtZ&dKZ:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϮϮ dZD/Ed/KEK&DE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϮϮ D/E/DhD/>>͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϮϮ WzDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϮϮ KE/d/KE^K&>/sZz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϮϮ D/hD'EZ>^Zs/^KEZzͲd/DͲK&Ͳh^͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϯ s/>/>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϯ WW>/d/KE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϯ ,ZdZK&^Zs/͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϯ Zd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϯ WKtZK^d:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϯ WKtZ&dKZ:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϰ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( dZD/Ed/KEK&DE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϰ />>/E'DE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϰ D/E/DhD/>>͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϰ WzDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϰ KE/d/KE^K&>/sZz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϰ >Z''EZ>^Zs/WZ/DZz͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϱ s/>/>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϱ WW>/d/KE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϱ ,ZdZK&^Zs/͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϱ Zd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϱ WKtZK^d:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϱ WKtZ&dKZ:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϱ WZ/DZzDdZ/^KhEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϱ dZE^&KZDZKtEZ^,/WZ/d͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϱ dZD/Ed/KEK&DE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϲ D/E/DhD/>>͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϲ WzDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϲ KE/d/KE^K&>/sZz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϲ >Z''EZ>^Zs/WZ/DZzͲd/DͲK&Ͳh^͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϳ s/>/>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϳ WW>/d/KE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϳ ,ZdZK&^Zs/͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϳ Zd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϳ WKtZK^d:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϳ WKtZ&dKZ:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϴ WZ/DZzDdZ/^KhEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϴ dZE^&KZDZKtEZ^,/WZ/d͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϴ dZD/Ed/KEK&DE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϴ />>/E'DE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϴ D/E/DhD/>>͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϴ WzDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϴ KE/d/KE^K&>/sZz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϵ >Z'/Eh^dZ/>^Zs/͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϬ s/>/>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϬ WW>/d/KE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϬ ,ZdZK&^Zs/͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϬ Zd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϬ WKtZK^d:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϬ WKtZ&dKZ:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϬ dZD/Ed/KEK&DE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϬ D/E/DhD/>>͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϬ WzDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϬ KE/d/KE^K&>/sZz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϭ /EdZZhWd/>^Zs/ͲůŽƐĞĚ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϮ s/>/>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϮ WW>/d/KE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϮ ,ZdZK&^Zs/͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϮ Zd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϮ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( WKtZK^d:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϮ WKtZ&dKZ:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϯ WZ/DZzDdZ/^KhEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϯ dZE^&KZDZKtEZ^,/WZ/d͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϯ ^hZ,Z'͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϯ WE>dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϯ dZD/Ed/KEK&DE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϯ />>/E'DE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϰ D/E/DhD/>>͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϰ WzDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϰ KE/d/KE^K&>/sZz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϱ WKtZK^d:h^dDEd͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϲ WW>/d/KE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϲ /dz^dZd>/',d/E'͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϳ s/>/>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϳ Zd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϳ WKtZK^d:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϳ KE/d/KE^K&>/sZz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϳ dZ&&/^/'E>^͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϴ s/>/>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϴ Zd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϴ D/E/DhD/>>͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϴ WKtZK^d:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϴ KE/d/KE^K&>/sZz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϴ ^hZ/dz>/',d/E'͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϵ s/>/>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϵ WW>/d/KE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϵ Zd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϵ WzDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϵ KE/d/KE^K&>/sZz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϵ hEDdZs/Zd͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϬ s/>/>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϬ WW>/d/KE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϬ ,ZdZK&^Zs/͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϬ Zd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϬ D/E/DhD/>>͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϬ WzDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϬ KE/d/KE^K&>/sZz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϬ >E/ZZ/Z͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϭ WW>/d/KE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϭ KE/d/KE^K&>/sZz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϭ ZK,^dZWh>/hd/>/d/^K'EZd/KEE^D>>WKtZWZKhd/KEdZ/&&͘͘͘ϰϮ s/>/>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϮ WW>/d/KE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϮ ,ZdZK&^Zs/͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϮ Zd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϮ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( WKtZK^d:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϯ WzDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϯ KE/d/KE^K&>/sZz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϯ >dZ/s,/>,Z'/E'd/DͲK&Ͳh^Zd͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϰ s/>/>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϰ WW>/d/KE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϰ ,ZdZK&^Zs/͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϰ Zd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϰ WKtZK^d:h^dDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϱ D/E/DhD/>>͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϱ WzDEd͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϱ KE/d/KE^K&>/sZz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϱ >/EydE^/KE^͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϲ s/>/>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϲ WW>/d/KE͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϲ Zd͙͙͙͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϲ WzDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϲ KEKD/s>KWDEdZ/dͲůŽƐĞĚ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϳ s/>/>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϳ WW>//>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϳ Yh>/&/d/KE^͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϳ Yh>/&z/E'>K͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϳ Z/d^͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϴ DKEd,>z&/y,Z'͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϴ dZD͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϴ DdZ/E'͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϴ D/^>>EKh^&^ʹ>dZ/hd/>/dz͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϰϵ ^Zs/^^hZΠhƚŝůŝƚLJ^ĞƌǀŝĐĞZĞƉĂŝƌŽǀĞƌĂŐĞ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱϭ s/>/>/dz͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱϭ KE/d/KE^K&^Zs/͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱϭ DKEd,>zZd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱϭ WzDEd͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱϭ tdZ^Zs/͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱϮ s/>/>/dz͗ ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱϮ DKEd,>zZd͗ ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱϮ D/E/DhD/>>͗ ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱϮ WzDEd͗ ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱϮ KE/d/KE^K&>/sZz͗ ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱϮ ^Zs/^^hZΠ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱϯ s/>/>/dz͗ ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱϯ KE/d/KE^K&^Zs/͗ ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱϯ DKEd,>zZd͗ ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱϯ WzDEd͗ ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱϯ &/Z,zZEd&/>/d/^,Z'͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱϰ WW>//>/dz͗ ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱϰ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( DKEd,>zZd͗ ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱϰ />>/E'^͗ ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱϰ WzDEd͗ ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱϰ KE/d/KE^K&>/sZz͗ ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱϰ D/^>>EKh^&^ʹtdZhd/>/dz͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱϱ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( Zd^,h>Z^ ^,dϭK&ϭ Z^/Ed/>^Zs/ s/>/>/dz͗ ƚĂůůůŽĐĂƚŝŽŶƐǁŚĞƌĞĨĂĐŝůŝƚŝĞƐŽĨĂĚĞƋƵĂƚĞĐĂƉĂĐŝƚLJĂŶĚƐƵŝƚĂďůĞǀŽůƚĂŐĞĂƌĞĂĚũĂĐĞŶƚƚŽƚŚĞƉƌĞŵŝƐĞƐƚŽďĞƐĞƌǀĞĚ͘tŚĞƌĞ ƐĞƌǀŝĐĞĚĞƐŝƌĞĚďLJƚŚĞĐƵƐƚŽŵĞƌŝƐŶŽƚĂĚũĂĐĞŶƚƚŽƚŚĞƉƌĞŵŝƐĞƐƚŽďĞƐĞƌǀĞĚ͕ĂĚĚŝƚŝŽŶĂůĐŽŶƚƌĂĐƚĂƌƌĂŶŐĞŵĞŶƚƐŵĂLJďĞ ƌĞƋƵŝƌĞĚƉƌŝŽƌƚŽƐĞƌǀŝĐĞďĞŝŶŐĨƵƌŶŝƐŚĞĚ͘ WW>/d/KE͗ dŽĞůĞĐƚƌŝĐƐĞƌǀŝĐĞƌĞƋƵŝƌĞĚĨŽƌƌĞƐŝĚĞŶƚŝĂůƉƵƌƉŽƐĞƐŝŶŝŶĚŝǀŝĚƵĂůƉƌŝǀĂƚĞĚǁĞůůŝŶŐƐĂŶĚŝŶŝŶĚŝǀŝĚƵĂůůLJŵĞƚĞƌĞĚĂƉĂƌƚŵĞŶƚƐǁŚĞŶ ƐƵĐŚƐĞƌǀŝĐĞŝƐƐƵƉƉůŝĞĚĂƚŽŶĞƉŽŝŶƚŽĨĚĞůŝǀĞƌLJĂŶĚŵĞĂƐƵƌĞĚƚŚƌŽƵŐŚŽŶĞŵĞƚĞƌ͘džŝƐƚŝŶŐƐŝŶŐůĞŵĞƚĞƌĞĚ͕ŵƵůƚŝͲƵŶŝƚĚǁĞůůŝŶŐƐ ŚĂǀŝŶŐŶŽƚŝŶĞdžĐĞƐƐŽĨƚŚƌĞĞƐĞƉĂƌĂƚĞĚǁĞůůŝŶŐƵŶŝƚƐŝŶƚŚĞƐĂŵĞƐƚƌƵĐƚƵƌĞŵĂLJďĞƐĞƌǀĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞ͘ ,ZdZK&^Zs/͗ ^ŝŶŐůĞƉŚĂƐĞ͕ϲϬ,Ğƌƚnj͕ϭϮϬͬϮϰϬǀŽůƚƐĂůƚĞƌŶĂƚŝŶŐĐƵƌƌĞŶƚ͘ Zd͗ ϮϬϮϲϮϬϮϳ ƵƐƚŽŵĞƌŚĂƌŐĞ͗ΨϮϰ͘ϰϰΨϮϲ͘ϬϬ ŶĞƌŐLJŚĂƌŐĞ͗ EŽŶͲ^ƵŵŵĞƌŶĞƌŐLJͬŬtŚϭϮ͘ϲϭϵΪϭϯ͘ϰϴϯΪ ^ƵŵŵĞƌŶĞƌŐLJͬŬtŚϭϱ͘ϬϳϰΪϭϲ͘ϭϬϴΪ ĞĨŝŶŝƚŝŽŶŽĨ^ĞĂƐŽŶ͗^ƵŵŵĞƌŵŽŶƚŚƐĂƌĞ:ƵŶĞƚŚƌŽƵŐŚ^ĞƉƚĞŵďĞƌ͘ EŽŶͲƐƵŵŵĞƌŵŽŶƚŚƐĂƌĞ:ĂŶƵĂƌLJƚŚƌŽƵŐŚDĂLJ ĂŶĚKĐƚŽďĞƌƚŚƌŽƵŐŚĞĐĞŵďĞƌ͘ WKtZK^d:h^dDEd͗ ŝůůƐĐŽŵƉƵƚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞĂƌĞƐƵďũĞĐƚƚŽĂĚũƵƐƚŵĞŶƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞWŽǁĞƌŽƐƚĚũƵƐƚŵĞŶƚ;WͿ͘ D/E/DhD/>>͗ ϮϬϮϲϮϬϮϳ WĞƌDŽŶƚŚΨϮϰ͘ϰϰΨϮϲ͘ϬϬ WzDEd͗ WĂLJŵĞŶƚƐĂƌĞĚƵĞŽŶŽƌďĞĨŽƌĞƚŚĞĚƵĞĚĂƚĞ͘ KE/d/KE^K&>/sZz͗ ϭ͘^ĞƌǀŝĐĞĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞŝƐƐƵďũĞĐƚƚŽĂƉƉůŝĐĂďůĞƉƌŽǀŝƐŝŽŶƐŽĨZWhΖƐƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐ ĂŶĚZĞŐƵůĂƚŝŽŶƐ͘ Ϯ͘ZWhƐŚĂůůŶŽƚďĞůŝĂďůĞĨŽƌĂŶLJĚĂŵĂŐĞŽƌůŽƐƐƐƵƐƚĂŝŶĞĚďLJĐƵƐƚŽŵĞƌƐƌĞƐƵůƚŝŶŐĨƌŽŵŝŶƚĞƌƌƵƉƚŝŽŶƐ͕ĚĞĨŝĐŝĞŶĐŝĞƐ͕Žƌ ŝŵƉĞƌĨĞĐƚŝŽŶƐŽĨƐĞƌǀŝĐĞƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞ͘ ϯ͘ŶĞƌŐLJĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐŚĂůůŶŽƚďĞƌĞƐŽůĚ͘ ϰ͘dŚŝƐƚĂƌŝĨĨĂƐƐƵŵĞƐƵƐĞŽĨŵĞƚĞƌŝŶŐƚĞĐŚŶŽůŽŐLJĐĂƉĂďůĞŽĨďĞŝŶŐƌĞĂĚƵƐŝŶŐĂƵƚŽŵĂƚĞĚĞƋƵŝƉŵĞŶƚ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( Zd^,h>Z^Ͳ& ^,dϭK&ϭ Z^/Ed/>^Zs/Ͳh>&h>ʹůŽƐĞĚ s/>/>/dz͗ ǀĂŝůĂďůĞŽŶůLJƚŽĞdžŝƐƚŝŶŐĚƵĂůĨƵĞůĐƵƐƚŽŵĞƌƐƚƌĂŶƐĨĞƌƌĞĚĨƌŽŵWĞŽƉůĞΖƐŶĞƌŐLJŽŽƉĞƌĂƚŝǀĞĞůĞĐƚƌŝĐĂůƐLJƐƚĞŵƚŽZWhΖƐƐLJƐƚĞŵĂƐ ƉĂƌƚŽĨZWhΖƐĞůĞĐƚƌŝĐƐĞƌǀŝĐĞƚĞƌƌŝƚŽƌLJĂĐƋƵŝƐŝƚŝŽŶƐĂŶĚĂƌĞĐƵƌƌĞŶƚůLJŽŶƚŚĞZĞƐŝĚĞŶƚŝĂů^ĞƌǀŝĐĞƵĂů&ƵĞůƌĂƚĞĂƐŽĨ:ĂŶƵĂƌLJϭ͕ ϮϬϮϮ͘ WW>/d/KE͗ dŽĞůĞĐƚƌŝĐŚĞĂƚŝŶŐƐĞƌǀŝĐĞƌĞƋƵŝƌĞĚĨŽƌƌĞƐŝĚĞŶƚŝĂůƉƵƌƉŽƐĞƐŝŶŝŶĚŝǀŝĚƵĂůƉƌŝǀĂƚĞďƵŝůĚŝŶŐƐ͘^ƵĐŚĞůĞĐƚƌŝĐŚĞĂƚŝŶŐůŽĂĚƐŚĂůůďĞ ŵĞƚĞƌĞĚƐĞƉĂƌĂƚĞůLJĨƌŽŵƚŚĞƌĞƐƚŽĨƚŚĞƐĞƌǀŝĐĞ͘ ,ZdZK&^Zs/͗ ^ŝŶŐůĞƉŚĂƐĞ͕ϲϬ,Ğƌƚnj͕ϭϮϬͬϮϰϬǀŽůƚƐĂůƚĞƌŶĂƚŝŶŐĐƵƌƌĞŶƚ͘ Zd͗ ϮϬϮϲϮϬϮϳ ŶĞƌŐLJŚĂƌŐĞͬŬtŚϵ͘ϰϭϵΪϭϬ͘ϬϲϱΪ WKtZK^d:h^dDEd͗ ŝůůƐĐŽŵƉƵƚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞĂƌĞƐƵďũĞĐƚƚŽĂĚũƵƐƚŵĞŶƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞWŽǁĞƌŽƐƚĚũƵƐƚŵĞŶƚ;WͿ͘ D/E/DhD/>>͗ ŶĞƌŐLJƵƐĂŐĞ͘ WzDEd͗ WĂLJŵĞŶƚƐĂƌĞĚƵĞŽŶŽƌďĞĨŽƌĞƚŚĞĚƵĞĚĂƚĞ͘ KE/d/KE^K&>/sZz͗ ϭ͘^ĞƌǀŝĐĞƵŶĚĞƌƚŚŝƐƌĂƚĞŝƐŽŶůLJĨŽƌĞůĞĐƚƌŝĐŚĞĂƚŝŶŐ͘ůůŽƚŚĞƌĞůĞĐƚƌŝĐĂůůŽĂĚƐƐŚĂůůďĞŵĞƚĞƌĞĚƵŶĚĞƌƚŚĞZ^ƌĞƐŝĚĞŶƚŝĂů ƐĞƌǀŝĐĞƌĂƚĞ͘ Ϯ͘ƵƐƚŽŵĞƌŵƵƐƚŬĞĞƉŚŝƐŽƌŚĞƌĂůƚĞƌŶĂƚĞĨƵĞůƐŽƵƌĐĞŚĞĂƚŝŶŐƐLJƐƚĞŵŝŶƐĂƚŝƐĨĂĐƚŽƌLJŽƉĞƌĂƚŝŶŐĐŽŶĚŝƚŝŽŶ͘ ϯ͘ZWhƌĞƐĞƌǀĞƐƚŚĞƌŝŐŚƚƚŽƚƌĂŶƐĨĞƌZ^Ͳ&ĐƵƐƚŽŵĞƌƐĨƌŽŵƚŚĞƉƌŝŵĂƌLJĞůĞĐƚƌŝĐŚĞĂƚƐŽƵƌĐĞƚŽƚŚĞĂůƚĞƌŶĂƚĞĨƵĞůƐŽƵƌĐĞ ĂƚĂŶLJƐƵĐŚƚŝŵĞƚŚĂƚƚŚĞĞůĞĐƚƌŝĐŚĞĂƚŝŶŐůŽĂĚǁŽƵůĚĂĚĚƚŽZWh͛ƐŵŽŶƚŚůLJĞůĞĐƚƌŝĐƉĞĂŬ͘ ϰ͘ƵƐƚŽŵĞƌƐƚŚĂƚƌĞŵŽǀĞĞdžŝƐƚŝŶŐĚƵĂůĨƵĞůŚĞĂƚŝŶŐƐLJƐƚĞŵƐƐŚĂůůŶŽƚďĞĞůŝŐŝďůĞĨŽƌƚŚĞZ^Ͳ&ƌĂƚĞǁŝƚŚƌĞƉůĂĐĞŵĞŶƚ ŚĞĂƚŝŶŐƐLJƐƚĞŵƐ͘ ϱ͘^ĞƌǀŝĐĞĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞŝƐƐƵďũĞĐƚƚŽĂƉƉůŝĐĂďůĞƉƌŽǀŝƐŝŽŶƐŽĨZWh͛ƐƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐ ĂŶĚZĞŐƵůĂƚŝŽŶƐ͘ ϲ͘ZWhƐŚĂůůŶŽƚďĞůŝĂďůĞĨŽƌĂŶLJĚĂŵĂŐĞŽƌůŽƐƐƐƵƐƚĂŝŶĞĚďLJĐƵƐƚŽŵĞƌƐƌĞƐƵůƚŝŶŐĨƌŽŵŝŶƚĞƌƌƵƉƚŝŽŶƐ͕ĚĞĨŝĐŝĞŶĐŝĞƐ͕Žƌ ŝŵƉĞƌĨĞĐƚŝŽŶƐŽĨƐĞƌǀŝĐĞƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞ͘ ϳ͘ŶĞƌŐLJĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐŚĂůůŶŽƚďĞƌĞƐŽůĚ͘ ϴ͘dŚŝƐƚĂƌŝĨĨĂƐƐƵŵĞƐƵƐĞŽĨŵĞƚĞƌŝŶŐƚĞĐŚŶŽůŽŐLJĐĂƉĂďůĞŽĨďĞŝŶŐƌĞĂĚƵƐŝŶŐĂƵƚŽŵĂƚĞĚĞƋƵŝƉŵĞŶƚ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( Zd^,h>Z^>'K ^,dϭK&Ϯ Z^/Ed/>^Zs/ʹ,/',&&//Ez,sʹůŽƐĞĚ s/>/>/dz͗ dŽZWhƌĞƐŝĚĞŶƚŝĂůĐƵƐƚŽŵĞƌƐƚŚĂƚ͗ ϭ͘ƌĞĐƵƌƌĞŶƚůLJŽŶƚŚĞZĞƐŝĚĞŶƚŝĂů^ĞƌǀŝĐĞͲ,ŝŐŚĨĨŝĐŝĞŶĐLJ,sƌĂƚĞĂƐŽĨ:ĂŶƵĂƌLJϭ͕ϮϬϮϮ͘ Ϯ͘hƐĞĞŝƚŚĞƌĂŶĂŝƌƐŽƵƌĐĞŽƌŐƌŽƵŶĚƐŽƵƌĐĞŚĞĂƚƉƵŵƉƐLJƐƚĞŵĂƐƚŚĞŽŶůLJƐŽƵƌĐĞŽĨŚĞĂƚŝŶŐĂŶĚĐŽŽůŝŶŐŝŶƚŚĞŝƌŚŽŵĞ͘ ϯ͘hƐĞĂŶĞůĞĐƚƌŝĐǁĂƚĞƌŚĞĂƚĞƌ;ƵƐƵĂůůLJĐŽŶŶĞĐƚĞĚƚŽĂĚĞƐƵƉĞƌŚĞĂƚĞƌŽŶƚŚĞŚĞĂƚƉƵŵƉͿĂƐƚŚĞŝƌŽŶůLJƐŽƵƌĐĞŽĨ ĚŽŵĞƐƚŝĐǁĂƚĞƌŚĞĂƚŝŶŐ͘ ϰ͘ZĞĐĞŝǀĞƉƌŝŽƌĂƉƉƌŽǀĂůŽĨƚŚĞĞƋƵŝƉŵĞŶƚĨƌŽŵZWh͘EŽƚĞƚŚĂƚĞƋƵŝƉŵĞŶƚŵƵƐƚďĞƌĂƚĞĚďLJƚŚĞŝƌͲŽŶĚŝƚŝŽŶŝŶŐ͕ ,ĞĂƚŝŶŐ͕ĂŶĚZĞĨƌŝŐĞƌĂƚŝŽŶ/ŶƐƚŝƚƵƚĞ;,Z/ͿΎ͕ĂŶĚĂƚƚŚĞƚŝŵĞŽĨŝŶƐƚĂůůĂƚŝŽŶ͕ŵĞĞƚƚŚĞŵŝŶŝŵƵŵĞĨĨŝĐŝĞŶĐLJ ƌĞƋƵŝƌĞŵĞŶƚƐĨŽƵŶĚŽŶƚŚĞZĞƐŝĚĞŶƚŝĂůůĞĐƚƌŝĐĨĨŝĐŝĞŶĐLJZĞďĂƚĞƉƉůŝĐĂƚŝŽŶŝŶĞĨĨĞĐƚĂƚƚŚĞƚŝŵĞ͘dŚĞĐƵƌƌĞŶƚ ĂƉƉůŝĐĂƚŝŽŶŝƐĂǀĂŝůĂďůĞĂƚǁǁǁ͘ƌƉƵ͘ŽƌŐ͘ Ύ&ŽƌĂŝƌƐŽƵƌĐĞĂŶĚŐƌŽƵŶĚƐŽƵƌĐĞŚĞĂƚƉƵŵƉƐƚŚĞĞĨĨŝĐŝĞŶĐLJƌĂƚŝŶŐƐĂƌĞĚĞƚĞƌŵŝŶĞĚƵƐŝŶŐƚŚĞŝƌͲŽŶĚŝƚŝŽŶŝŶŐ͕,ĞĂƚŝŶŐ͕ĂŶĚ ZĞĨƌŝŐĞƌĂƚŝŽŶ/ŶƐƚŝƚƵƚĞ͛Ɛ;,Z/ͿĚŝƌĞĐƚŽƌLJ͕ǁŚŝĐŚŵĂLJďĞĨŽƵŶĚĂƚǁǁǁ͘ĂŚƌŝĚŝƌĞĐƚŽƌLJ͘ŽƌŐ͘ WW>/d/KE͗ ůĞĐƚƌŝĐƐĞƌǀŝĐĞƌĞƋƵŝƌĞĚĨŽƌƌĞƐŝĚĞŶƚŝĂůƉƵƌƉŽƐĞƐŝŶŝŶĚŝǀŝĚƵĂůƉƌŝǀĂƚĞĚǁĞůůŝŶŐƐǁŚĞƌĞƐĞƌǀŝĐĞŝƐƐƵƉƉůŝĞĚĂƚŽŶĞƉŽŝŶƚŽĨ ĚĞůŝǀĞƌLJĂŶĚŵĞĂƐƵƌĞĚƚŚƌŽƵŐŚŽŶĞŵĞƚĞƌ͘ ,ZdZK&^Zs/͗ ^ŝŶŐůĞƉŚĂƐĞ͕ϲϬŚĞƌƚnj͕ϭϮϬͬϮϰϬǀŽůƚƐĂůƚĞƌŶĂƚŝŶŐĐƵƌƌĞŶƚ͘ Zd͗ ϮϬϮϲϮϬϮϳ ƵƐƚŽŵĞƌŚĂƌŐĞ͗ΨϮϰ͘ϰϰΨϮϲ͘ϬϬ ŶĞƌŐLJŚĂƌŐĞ͗ EŽŶ^ƵŵŵĞƌĨŝƌƐƚϲϬϬŬtŚϭϮ͘ϲϭϵΪϭϯ͘ϰϴϯΪ EŽŶ^ƵŵŵĞƌŽǀĞƌϲϬϬŬtŚϭϬ͘ϱϳϱΪϭϭ͘ϯϬϬΪ ^ƵŵŵĞƌŬtŚϭϱ͘ϬϳϰΪϭϲ͘ϭϬϴΪ ĞĨŝŶŝƚŝŽŶŽĨ^ĞĂƐŽŶ͗^ƵŵŵĞƌŵŽŶƚŚƐĂƌĞ:ƵŶĞƚŚƌŽƵŐŚ^ĞƉƚĞŵďĞƌ͘ EŽŶͲƐƵŵŵĞƌŵŽŶƚŚƐĂƌĞ:ĂŶƵĂƌLJƚŚƌŽƵŐŚDĂLJ ĂŶĚKĐƚŽďĞƌƚŚƌŽƵŐŚĞĐĞŵďĞƌ͘ WKtZK^d:h^dDEd͗ ŝůůƐĐŽŵƉƵƚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞĂƌĞƐƵďũĞĐƚƚŽĂĚũƵƐƚŵĞŶƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞWŽǁĞƌŽƐƚĚũƵƐƚŵĞŶƚ;WͿ͘ D/E/DhD/>>͗ ϮϬϮϲϮϬϮϳ WĞƌDŽŶƚŚ͗ΨϮϰ͘ϰϰΨϮϲ͘ϬϬ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( ŽŶƚŝŶƵĞĚ͙ Zd^,h>Z^>'K ^,dϮK&Ϯ WzDEd͗ WĂLJŵĞŶƚƐĂƌĞĚƵĞŽŶŽƌďĞĨŽƌĞƚŚĞĚƵĞĚĂƚĞ͘ KE/d/KE^K&>/sZz͗ ϭ͘^ĞƌǀŝĐĞƵŶĚĞƌƚŚŝƐƌĂƚĞŝƐŽŶůLJĨŽƌĂŝƌͲƐŽƵƌĐĞŽƌŐƌŽƵŶĚͲƐŽƵƌĐĞŚĞĂƚƉƵŵƉƐLJƐƚĞŵƐƚŚĂƚŵĞĞƚƚŚĞƐƚĂƚĞĚĞĨĨŝĐŝĞŶĐLJ ƌĞƋƵŝƌĞŵĞŶƚƐĂƐĞdžƉůĂŝŶĞĚŝŶƚŚĞǀĂŝůĂďŝůŝƚLJƐƵďŚĞĂĚŽĨƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞ͘ Ϯ͘^ĞƌǀŝĐĞƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞŝƐƐƵďũĞĐƚƚŽĂƉƉůŝĐĂďůĞƉƌŽǀŝƐŝŽŶƐŽĨZWh͛ƐƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐĂŶĚ ZĞŐƵůĂƚŝŽŶƐ͘ ϯ͘ŶĞƌŐLJƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐŚĂůůŶŽƚďĞƌĞƐŽůĚ͘ ϰ͘ZWhƐŚĂůůŶŽƚďĞůŝĂďůĞĨŽƌĂŶLJĚĂŵĂŐĞŽƌůŽƐƐƐƵƐƚĂŝŶĞĚďLJĐƵƐƚŽŵĞƌƐƌĞƐƵůƚŝŶŐĨƌŽŵŝŶƚĞƌƌƵƉƚŝŽŶƐ͕ĚĞĨŝĐŝĞŶĐŝĞƐ͕Žƌ ŝŵƉĞƌĨĞĐƚŝŽŶƐŽĨƐĞƌǀŝĐĞƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞ͘ ϱ͘dŚŝƐƚĂƌŝĨĨĂƐƐƵŵĞƐƵƐĞŽĨŵĞƚĞƌŝŶŐƚĞĐŚŶŽůŽŐLJĐĂƉĂďůĞŽĨďĞŝŶŐƌĞĂĚƵƐŝŶŐĂƵƚŽŵĂƚĞĚĞƋƵŝƉŵĞŶƚ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( Zd^,h>Z^dKh ^,dϭK&Ϯ Z^/Ed/>ʹd/DͲK&Ͳh^ s/>/>/dz͗ ƚĂůůůŽĐĂƚŝŽŶƐǁŚĞƌĞĨĂĐŝůŝƚŝĞƐŽĨĂĚĞƋƵĂƚĞĐĂƉĂĐŝƚLJĂŶĚƐƵŝƚĂďůĞǀŽůƚĂŐĞĂƌĞĂĚũĂĐĞŶƚƚŽƚŚĞƉƌĞŵŝƐĞƐƚŽďĞƐĞƌǀĞĚ͘tŚĞƌĞ ƐĞƌǀŝĐĞĚĞƐŝƌĞĚďLJƚŚĞĐƵƐƚŽŵĞƌŝƐŶŽƚĂĚũĂĐĞŶƚƚŽƚŚĞƉƌĞŵŝƐĞƐƚŽďĞƐĞƌǀĞĚ͕ĂĚĚŝƚŝŽŶĂůĐŽŶƚƌĂĐƚĂƌƌĂŶŐĞŵĞŶƚƐŵĂLJďĞ ƌĞƋƵŝƌĞĚƉƌŝŽƌƚŽƐĞƌǀŝĐĞďĞŝŶŐĨƵƌŶŝƐŚĞĚ͘ZWhƌĞƐĞƌǀĞƐƚŚĞƌŝŐŚƚƚŽůŝŵŝƚďŽƚŚƚŚĞŶƵŵďĞƌŽĨĐƵƐƚŽŵĞƌƐĂŶĚƚŚĞĂŵŽƵŶƚŽĨůŽĂĚ ƚĂŬĞŶƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞ͘ WW>/d/KE͗ dŽĞůĞĐƚƌŝĐƐĞƌǀŝĐĞƌĞƋƵŝƌĞĚĨŽƌƌĞƐŝĚĞŶƚŝĂůƉƵƌƉŽƐĞƐŝŶŝŶĚŝǀŝĚƵĂůƉƌŝǀĂƚĞĚǁĞůůŝŶŐƐĂŶĚŝŶŝŶĚŝǀŝĚƵĂůůLJŵĞƚĞƌĞĚĂƉĂƌƚŵĞŶƚƐǁŚĞŶ ƐƵĐŚƐĞƌǀŝĐĞŝƐƐƵƉƉůŝĞĚĂƚŽŶĞƉŽŝŶƚŽĨĚĞůŝǀĞƌLJĂŶĚŵĞĂƐƵƌĞĚƚŚƌŽƵŐŚŽŶĞŵĞƚĞƌ͘ ,ZdZK&^Zs/͗ ^ŝŶŐůĞƉŚĂƐĞ͕ϲϬ,Ğƌƚnj͕ϭϮϬͬϮϰϬǀŽůƚƐĂůƚĞƌŶĂƚŝŶŐĐƵƌƌĞŶƚ͘ Zd͗ ϮϬϮϲϮϬϮϳ ƵƐƚŽŵĞƌŚĂƌŐĞ͗ΨϮϰ͘ϰϰΨϮϲ͘ϬϬ ŶĞƌŐLJŚĂƌŐĞ͗ EŽŶͲ^ƵŵŵĞƌŶĞƌŐLJ͗ ^ƵƉĞƌͲƉĞĂŬŶĞƌŐLJͬŬtŚϭϲ͘ϯϲϲΪϭϳ͘ϰϴϵΪ KŶͲƉĞĂŬŶĞƌŐLJͬŬtŚϭϲ͘ϯϲϲΪϭϳ͘ϰϴϵΪ KĨĨͲƉĞĂŬŶĞƌŐLJͬŬtŚϴ͘ϮϵϱΪϴ͘ϴϲϰΪ ^ƵŵŵĞƌŶĞƌŐLJ͗ ^ƵƉĞƌͲƉĞĂŬŶĞƌŐLJͬŬtŚϯϯ͘ϴϴϱΪϯϲ͘ϮϬϴΪ KŶͲƉĞĂŬŶĞƌŐLJͬŬtŚϮϬ͘ϭϱϰΪϮϭ͘ϱϯϲΪ KĨĨͲƉĞĂŬŶĞƌŐLJͬŬtŚϴ͘ϮϵϱΪϴ͘ϴϲϰΪ ĞĨŝŶŝƚŝŽŶŽĨ^ĞĂƐŽŶ͗^ƵŵŵĞƌŵŽŶƚŚƐĂƌĞ:ƵŶĞƚŚƌŽƵŐŚ^ĞƉƚĞŵďĞƌ͘ EŽŶͲƐƵŵŵĞƌŵŽŶƚŚƐĂƌĞ:ĂŶƵĂƌLJƚŚƌŽƵŐŚDĂLJ ĂŶĚKĐƚŽďĞƌƚŚƌŽƵŐŚĞĐĞŵďĞƌ͘ ĞĨŝŶŝƚŝŽŶŽĨ ^ƵƉĞƌͲƉĞĂŬŶĞƌŐLJ͗ůůĞŶĞƌŐLJƵƐĞĚďLJƚŚĞĐƵƐƚŽŵĞƌďĞƚǁĞĞŶƚŚĞŚŽƵƌƐŽĨ ϰ͗ϬϬƉ͘ŵ͘ĂŶĚϴ͗ϬϬƉ͘ŵ͘;ϰ,ŽƵƌƐͿDŽŶĚĂLJƚŚƌŽƵŐŚ&ƌŝĚĂLJ͘ ĞĨŝŶŝƚŝŽŶŽĨ KŶͲƉĞĂŬŶĞƌŐLJ͗ůůĞŶĞƌŐLJƵƐĞĚďLJƚŚĞĐƵƐƚŽŵĞƌďĞƚǁĞĞŶƚŚĞŚŽƵƌƐŽĨ ϴ͗ϬϬĂ͘ŵ͘ĂŶĚϰ͗ϬϬƉ͘ŵ͘;ϴŚŽƵƌƐͿĂŶĚďĞƚǁĞĞŶƚŚĞŚŽƵƌƐŽĨ ϴ͗ϬϬƉ͘ŵ͘ĂŶĚϭϬ͗ϬϬƉ͘ŵ͘;ϮŚŽƵƌƐͿDŽŶĚĂLJƚŚƌŽƵŐŚ&ƌŝĚĂLJ͘ ĞĨŝŶŝƚŝŽŶŽĨ KĨĨͲƉĞĂŬŶĞƌŐLJ͗ůůĞŶĞƌŐLJƵƐĞĚďLJƚŚĞĐƵƐƚŽŵĞƌĨŽƌĂůůŽƚŚĞƌŚŽƵƌƐ͕ ŝŶĐůƵĚŝŶŐǁĞĞŬĞŶĚƐĂŶĚƐƉĞĐŝĨŝĞĚŚŽůŝĚĂLJƐ͘ KĨĨͲƉĞĂŬ ŚŽůŝĚĂLJƐ͗EĞǁzĞĂƌƐĂLJ͕DĞŵŽƌŝĂůĂLJ͕/ŶĚĞƉĞŶĚĞŶĐĞĂLJ͕>ĂďŽƌĂLJ͕ dŚĂŶŬƐŐŝǀŝŶŐĂLJ͕ĂŶĚŚƌŝƐƚŵĂƐĂLJ͘ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( ŽŶƚŝŶƵĞĚ͙ Zd^,h>Z^dKh ^,dϮK&Ϯ WKtZK^d:h^dDEd͗ ŝůůƐĐŽŵƉƵƚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞĂƌĞƐƵďũĞĐƚƚŽĂĚũƵƐƚŵĞŶƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞWŽǁĞƌŽƐƚĚũƵƐƚŵĞŶƚ;WͿ͘ D/E/DhD/>>͗ ϮϬϮϲϮϬϮϳ WĞƌDŽŶƚŚ͗ΨϮϰ͘ϰϰΨϮϲ͘ϬϬ WzDEd͗ WĂLJŵĞŶƚƐĂƌĞĚƵĞŽŶŽƌďĞĨŽƌĞƚŚĞĚƵĞĚĂƚĞ͘ /^dZ/hdEZ'zZ^KhZ^͗ ƵƐƚŽŵĞƌƐǁŚŽŚĂǀĞŝŶƐƚĂůůĞĚŝƐƚƌŝďƵƚĞĚŶĞƌŐLJZĞƐŽƵƌĐĞƐĂŶĚŚĂǀĞĞůĞĐƚĞĚƚŽƌĞĐĞŝǀĞƚŚĞĂǀĞƌĂŐĞƌĞƚĂŝůƵƚŝůŝƚLJƌĂƚĞĂƌĞ ĞůŝŐŝďůĞƚŽƉĂƌƚŝĐŝƉĂƚĞŝŶƚŚĞZĞƐŝĚĞŶƚŝĂůdŝŵĞͲŽĨͲhƐĞƌĂƚĞ͘ůůĞŶĞƌŐLJƐƵƉƉůŝĞĚďLJƚŚĞĐƵƐƚŽŵĞƌ͛ƐƋƵĂůŝĨLJŝŶŐĨĂĐŝůŝƚLJǁŝůůďĞ ƉƵƌĐŚĂƐĞĚďLJZWhĂƚƚŚĞZĞƐŝĚĞŶƚŝĂůǀĞƌĂŐĞZĞƚĂŝůZĂƚĞĂƐůŝƐƚĞĚŝŶ^ĐŚĞĚƵůĞϭŽĨƚŚĞZƵůĞƐ'ŽǀĞƌŶŝŶŐƚŚĞ/ŶƚĞƌĐŽŶŶĞĐƚŝŽŶŽĨ ŽŐĞŶĞƌĂƚŝŽŶĂŶĚ^ŵĂůůWŽǁĞƌWƌŽĚƵĐƚŝŽŶ&ĂĐŝůŝƚŝĞƐǁŝƚŚZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚŝĞƐ͘^ĐŚĞĚƵůĞϭŝƐƵƉĚĂƚĞĚĂŶŶƵĂůůLJĂŶĚĐĂŶďĞ ĨŽƵŶĚŽŶZW h͛ƐǁĞďƐŝƚĞ͘ KE/d/KE^K&>/sZz͗ ϭ͘^ĞƌǀŝĐĞĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞŝƐƐƵďũĞĐƚƚŽĂƉƉůŝĐĂďůĞƉƌŽǀŝƐŝŽŶƐŽĨZWhΖƐƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐ ĂŶĚZĞŐƵůĂƚŝŽŶƐ͘ Ϯ͘ZWhƐŚĂůůŶŽƚďĞůŝĂďůĞĨŽƌĂŶLJĚĂŵĂŐĞŽƌůŽƐƐƐƵƐƚĂŝŶĞĚďLJĐƵƐƚŽŵĞƌƐƌĞƐƵůƚŝŶŐĨƌŽŵŝŶƚĞƌƌƵƉƚŝŽŶƐ͕ĚĞĨŝĐŝĞŶĐŝĞƐ͕Žƌ ŝŵƉĞƌĨĞĐƚŝŽŶƐŽĨƐĞƌǀŝĐĞƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞ͘ ϯ͘ŶĞƌŐLJĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐŚĂůůŶŽƚďĞƌĞƐŽůĚ͘ ϰ͘^ĞƌǀŝĐĞƵŶĚĞƌƚŚŝƐƌĂƚĞǁŝůůďĞŵĂĚĞĂǀĂŝůĂďůĞĂƚƚŚĞŽƉƚŝŽŶŽĨƚŚĞƌĞƐŝĚĞŶƚŝĂůƐĞƌǀŝĐĞĐƵƐƚŽŵĞƌ͕ƐƵďũĞĐƚƚŽƚŚĞ ĂǀĂŝůĂďŝůŝƚLJŽĨƚŚĞŶĞĐĞƐƐĂƌLJƚŝŵĞͲŽĨͲƵƐĞŵĞƚĞƌŝŶŐĞƋƵŝƉŵĞŶƚ͘ ϱ͘ĐƵƐƚŽŵĞƌŵĂLJƐǁŝƚĐŚƚŽƚŚĞZ^/Ed/>^Zs/ƌĂƚĞƉƌŽǀŝĚŝŶŐƚŚĞĐƵƐƚŽŵĞƌŐŝǀĞƐZWhĂƚůĞĂƐƚϰϱĚĂLJƐ͛ŶŽƚŝĐĞ͘ ϲ͘ĐƵƐƚŽŵĞƌŵĂLJŽŶůLJƐǁŝƚĐŚĨƌŽŵZ^/Ed/>^Zs/ƚŽZ^/Ed/>d/DͲK&Ͳh^^Zs/ƌĂƚĞŽŶĞƚŝŵĞ͘ ϳ͘dŚŝƐƚĂƌŝĨĨƌĞƋƵŝƌĞƐƚŚĞƵƐĞŽĨŵĞƚĞƌŝŶŐƚĞĐŚŶŽůŽŐLJĐĂƉĂďůĞŽĨďĞŝŶŐƌĞĂĚƵƐŝŶŐĂƵƚŽŵĂƚĞĚĞƋƵŝƉŵĞŶƚ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( Zd^,h>'^ ^,dϭK&ϭ 'EZ>^Zs/ s/>/>/dz͗ ƚĂůůůŽĐĂƚŝŽŶƐĨŽƌůŽĂĚƐŽĨůĞƐƐƚŚĂŶϮϱŬtǁŚĞƌĞĨĂĐŝůŝƚŝĞƐŽĨĂĚĞƋƵĂƚĞĐĂƉĂĐŝƚLJĂŶĚƐƵŝƚĂďůĞǀŽůƚĂŐĞĂƌĞĂĚũĂĐĞŶƚƚŽƚŚĞ ƉƌĞŵŝƐĞƐƚŽďĞƐĞƌǀĞĚ͘&ŽƌůŽĂĚƐǁŚĞƌĞƚŚĞƐĞƌǀŝĐĞĚĞƐŝƌĞĚďLJƚŚĞĐƵƐƚŽŵĞƌŝƐŶŽƚĂĚũĂĐĞŶƚƚŽƚŚĞƉƌĞŵŝƐĞƐƚŽďĞƐĞƌǀĞĚ͕ ĂĚĚŝƚŝŽŶĂůĐŽŶƚƌĂĐƚĂƌƌĂŶŐĞŵĞŶƚƐŵĂLJďĞƌĞƋƵŝƌĞĚƉƌŝŽƌƚŽƐĞƌǀŝĐĞďĞŝŶŐĨƵƌŶŝƐŚĞĚ͘ WW>/d/KE͗ dŽĐŽŵŵĞƌĐŝĂů͕ŝŶĚƵƐƚƌŝĂů͕ŐŽǀĞƌŶŵĞŶƚĂů͕ĂŶĚŽƚŚĞƌƚLJƉĞƐŽĨ'ĞŶĞƌĂů^ĞƌǀŝĐĞĐƵƐƚŽŵĞƌƐǁŝƚŚĂůůƐĞƌǀŝĐĞƚĂŬĞŶĂƚŽŶĞƉŽŝŶƚĂŶĚ ŵĞĂƐƵƌĞĚƚŚƌŽƵŐŚŽŶĞŵĞƚĞƌ͘ůƐŽĂƉƉůŝĐĂďůĞƚŽƚĞŵƉŽƌĂƌLJƐĞƌǀŝĐĞŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚZWhΖƐƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐ ĂŶĚZĞŐƵůĂƚŝŽŶƐ͘EŽƚĂƉƉůŝĐĂďůĞƚŽƐƚĂŶĚďLJƐĞƌǀŝĐĞ͘ ,ZdZK&^Zs/͗ ^ŝŶŐůĞŽƌƚŚƌĞĞƉŚĂƐĞ͕ϲϬ,Ğƌƚnj͕ĂůƚĞƌŶĂƚŝŶŐĐƵƌƌĞŶƚĂƚĂŶLJŽŶĞŽĨƚŚĞƐƚĂŶĚĂƌĚƐĞĐŽŶĚĂƌLJƐĞƌǀŝĐĞǀŽůƚĂŐĞƐĂƐĚĞƐĐƌŝďĞĚŝŶZWhΖƐ ƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐĂŶĚZĞŐƵůĂƚŝŽŶƐ͘ Zd͗ ϮϬϮϲϮϬϮϳ ƵƐƚŽŵĞƌŚĂƌŐĞ͗ΨϮϳ͘ϬϬΨϮϲ͘ϬϬ ŶĞƌŐLJŚĂƌŐĞ͗ EŽŶͲ^ƵŵŵĞƌŬtŚϭϮ͘ϴϲϭΪϭϯ͘ϵϭϯΪ ^ƵŵŵĞƌŬtŚϭϲ͘ϱϱϮΪϭϳ͘ϵϬϰΪ ĞĨŝŶŝƚŝŽŶŽĨ^ĞĂƐŽŶ͗^ƵŵŵĞƌŵŽŶƚŚƐĂƌĞ:ƵŶĞƚŚƌŽƵŐŚ^ĞƉƚĞŵďĞƌ͘ EŽŶͲƐƵŵŵĞƌŵŽŶƚŚƐĂƌĞ:ĂŶƵĂƌLJƚŚƌŽƵŐŚDĂLJ ĂŶĚKĐƚŽďĞƌƚŚƌŽƵŐŚĞĐĞŵďĞƌ͘ WKtZK^d:h^dDEd͗ ŝůůƐĐŽŵƉƵƚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞĂƌĞƐƵďũĞĐƚƚŽĂĚũƵƐƚŵĞŶƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞWŽǁĞƌŽƐƚĚũƵƐƚŵĞŶƚ;WͿ͘ D/E/DhD/>>͗ ϮϬϮϲϮϬϮϳ WĞƌDŽŶƚŚ͗ΨϮϳ͘ϬϬΨϮϲ͘ϬϬ WzDEd͗ WĂLJŵĞŶƚƐĂƌĞĚƵĞŽŶŽƌďĞĨŽƌĞƚŚĞĚƵĞĚĂƚĞ͘ KE/d/KE^K&>/sZz͗ ϭ͘^ĞƌǀŝĐĞĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞŝƐƐƵďũĞĐƚƚŽĂƉƉůŝĐĂďůĞƉƌŽǀŝƐŝŽŶƐŽĨZWhΖƐƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐ ĂŶĚZĞŐƵůĂƚŝŽŶƐ͘ Ϯ͘hŶůĞƐƐĂƵƚŚŽƌŝnjĞĚďLJƐĞƉĂƌĂƚĞǁƌŝƚƚĞŶĂŐƌĞĞŵĞŶƚ͕ƐƚĂŶĚďLJĞůĞĐƚƌŝĐŐĞŶĞƌĂƚŝŶŐĞƋƵŝƉŵĞŶƚŝŶƐƚĂůůĞĚďLJƚŚĞĐƵƐƚŽŵĞƌ ƐŚĂůůŶŽƚďĞŝŶƚĞƌĐŽŶŶĞĐƚĞĚ͕ŽƌŽƉĞƌĂƚĞĚŝŶƉĂƌĂůůĞů͕ǁŝƚŚƚŚĞZWhƐLJƐƚĞŵ͘ƵƐƚŽŵĞƌƐŚĂůůŽǁŶ͕ŝŶƐƚĂůů͕ŽƉĞƌĂƚĞ͕ĂŶĚ ŵĂŝŶƚĂŝŶĞůĞĐƚƌŝĐĂůŝŶƚĞƌůŽĐŬŝŶŐĞƋƵŝƉŵĞŶƚ͕ǁŚŝĐŚǁŝůůƉƌĞǀĞŶƚƉĂƌĂůůĞůŽƉĞƌĂƚŝŽŶ͕ĂŶĚƐƵĐŚĞƋƵŝƉŵĞŶƚƐŚĂůůďĞ ĂƉƉƌŽǀĞĚďLJZWhƉƌŝŽƌƚŽŝŶƐƚĂůůĂƚŝŽŶ͘ ϯ͘ZWhƐŚĂůůŶŽƚďĞůŝĂďůĞĨŽƌĂŶLJĚĂŵĂŐĞŽƌůŽƐƐƐƵƐƚĂŝŶĞĚďLJĐƵƐƚŽŵĞƌƐƌĞƐƵůƚŝŶŐĨƌŽŵŝŶƚĞƌƌƵƉƚŝŽŶƐ͕ĚĞĨŝĐŝĞŶĐŝĞƐ͕Žƌ ŝŵƉĞƌĨĞĐƚŝŽŶƐŽĨƐĞƌǀŝĐĞƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞ͘ ϰ͘ŶĞƌŐLJĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐŚĂůůŶŽƚďĞƌĞƐŽůĚ͘ ϱ͘dŚŝƐƚĂƌŝĨĨĂƐƐƵŵĞƐƵƐĞŽĨŵĞƚĞƌŝŶŐƚĞĐŚŶŽůŽŐLJĐĂƉĂďůĞŽĨďĞŝŶŐƌĞĂĚƵƐŝŶŐĂƵƚŽŵĂƚĞĚĞƋƵŝƉŵĞŶƚ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( Zd^,h>'^Ͳ,& ^,dϭK&Ϯ 'EZ>^Zs/Ͳ,/',&&//Ez,sʹůŽƐĞĚ s/>/>/dz͗ ƚĂůůůŽĐĂƚŝŽŶƐĨŽƌůŽĂĚƐŽĨůĞƐƐƚŚĂŶϮϱŬtǁŚĞƌĞĨĂĐŝůŝƚŝĞƐŽĨĂĚĞƋƵĂƚĞĐĂƉĂĐŝƚLJĂŶĚƐƵŝƚĂďůĞǀŽůƚĂŐĞĂƌĞĂĚũĂĐĞŶƚƚŽƚŚĞ ƉƌĞŵŝƐĞƐƚŽďĞƐĞƌǀĞĚĂŶĚƚŽĐƵƐƚŽŵĞƌƐǁŚŽ͗ ϭ͘ƌĞĐƵƌƌĞŶƚůLJŽŶƚŚĞ'ĞŶĞƌĂů^ĞƌǀŝĐĞͲ,ŝŐŚĨĨŝĐŝĞŶĐLJ,sƌĂƚĞĂƐŽĨ:ĂŶƵĂƌLJϭ͕ϮϬϮϮ͘ Ϯ͘hƐĞĞŝƚŚĞƌĂŶĂŝƌƐŽƵƌĐĞŽƌŐƌŽƵŶĚƐŽƵƌĐĞŚĞĂƚƉƵŵƉƐLJƐƚĞŵĂƐƚŚĞŽŶůLJƐŽƵƌĐĞŽĨŚĞĂƚŝŶŐĂŶĚĐŽŽůŝŶŐŝŶƚŚĞŝƌĨĂĐŝůŝƚLJ͘ ϯ͘hƐĞĂŶĞůĞĐƚƌŝĐǁĂƚĞƌŚĞĂƚĞƌ;ƵƐƵĂůůLJĐŽŶŶĞĐƚĞĚƚŽĂĚĞƐƵƉĞƌŚĞĂƚĞƌŽŶƚŚĞŚĞĂƚƉƵŵƉͿĂƐƚŚĞŽŶůLJƐŽƵƌĐĞŽĨǁĂƚĞƌ ŚĞĂƚŝŶŐ͘ ϰ͘ZĞĐĞŝǀĞƉƌŝŽƌĂƉƉƌŽǀĂůŽĨƚŚĞĞƋƵŝƉŵĞŶƚĨƌŽŵZWh͘EŽƚĞƚŚĂƚĞƋƵŝƉŵĞŶƚŵƵƐƚďĞƌĂƚĞĚďLJƚŚĞŝƌͲŽŶĚŝƚŝŽŶŝŶŐ͕ ,ĞĂƚŝŶŐ͕ĂŶĚZĞĨƌŝŐĞƌĂƚŝŽŶ/ŶƐƚŝƚƵƚĞ;,Z/ͿΎĂŶĚĂƚƚŚĞƚŝŵĞŽĨŝŶƐƚĂůůĂƚŝŽŶ͕ŵĞĞƚƚŚĞŵŝŶŝŵƵŵĞĨĨŝĐŝĞŶĐLJ ƌĞƋƵŝƌĞŵĞŶƚƐĨŽƵŶĚŽŶƚŚĞŽŵŵĞƌĐŝĂů,ĞĂƚWƵŵƉƐZĞďĂƚĞƉƉůŝĐĂƚŝŽŶŝŶĞĨĨĞĐƚĂƚƚŚĞƚŝŵĞ͘dŚĞĐƵƌƌĞŶƚĂƉƉůŝĐĂƚŝŽŶ ŝƐĂǀĂŝůĂďůĞĂƚǁǁǁ͘ƌƉƵ͘ŽƌŐ͘ ϱ͘^ĞƌǀŝĐĞƵŶĚĞƌƚŚŝƐƌĂƚĞŵƵƐƚďĞƐĞƉĂƌĂƚĞůLJŵĞƚĞƌĞĚĨƌŽŵŽƚŚĞƌĨĂĐŝůŝƚLJůŽĂĚƐ͘ Ύ&ŽƌĂŝƌƐŽƵƌĐĞĂŶĚŐƌŽƵŶĚƐŽƵƌĐĞŚĞĂƚƉƵŵƉƐƚŚĞĞĨĨŝĐŝĞŶĐLJƌĂƚŝŶŐƐĂƌĞĚĞƚĞƌŵŝŶĞĚƵƐŝŶŐƚŚĞŝƌͲŽŶĚŝƚŝŽŶŝŶŐ͕,ĞĂƚŝŶŐĂŶĚ ZĞĨƌŝŐĞƌĂƚŝŽŶ/ŶƐƚŝƚƵƚĞ͛Ɛ;,Z/ͿĚŝƌĞĐƚŽƌLJ͕ǁŚŝĐŚŵĂLJďĞĨŽƵŶĚĂƚǁǁǁ͘ĂŚƌŝĚŝƌĞĐƚŽƌLJ͘ŽƌŐEŽƚĞ͗KƚŚĞƌĂůůͲĞůĞĐƚƌŝĐ,sƐLJƐƚĞŵƐ ŵĂLJďĞĐŽŶƐŝĚĞƌĞĚĨŽƌƚŚŝƐƌĂƚĞŝĨƚŚĞLJŵĞĞƚƚŚĞƐƚĂƚĞĚĞĨĨŝĐŝĞŶĐLJƐƚĂŶĚĂƌĚƐ͘dŽŚĂǀĞĂƐLJƐƚĞŵĐŽŶƐŝĚĞƌĞĚ͕ĐƵƐƚŽŵĞƌƐŵƵƐƚ ƐƵďŵŝƚĂŶĞŶŐŝŶĞĞƌŝŶŐĂŶĂůLJƐŝƐĚŽĐƵŵĞŶƚŝŶŐƚŚĞĞĨĨŝĐŝĞŶĐLJŽĨƚŚĞƐLJƐƚĞŵ͘ WW>/d/KE͗ dŽĐŽŵŵĞƌĐŝĂů͕ŝŶĚƵƐƚƌŝĂů͕ŐŽǀĞƌŶŵĞŶƚĂů͕ĂŶĚŽƚŚĞƌƚLJƉĞƐŽĨ'ĞŶĞƌĂů^ĞƌǀŝĐĞĐƵƐƚŽŵĞƌƐĐƵƌƌĞŶƚůLJƌĞĐĞŝǀŝŶŐƚŚĞŝƌƐĞƌǀŝĐĞƚŚƌŽƵŐŚ ƚŚŝƐƌĂƚĞĂƐŽĨ:ĂŶƵĂƌLJϭ͕ϮϬϮϮ͘EŽƚĂƉƉůŝĐĂďůĞƚŽƐƚĂŶĚďLJƐĞƌǀŝĐĞ͘͘ ,ZdZK&^Zs/͗ ^ŝŶŐůĞŽƌƚŚƌĞĞƉŚĂƐĞ͕ϲϬ,Ğƌƚnj͕ĂůƚĞƌŶĂƚŝŶŐĐƵƌƌĞŶƚĂƚĂŶLJŽŶĞŽĨƚŚĞƐƚĂŶĚĂƌĚƐĞĐŽŶĚĂƌLJƐĞƌǀŝĐĞǀŽůƚĂŐĞƐĂƐĚĞƐĐƌŝďĞĚŝŶZWhΖƐ ƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐĂŶĚZĞŐƵůĂƚŝŽŶƐ͘ Zd͗ ϮϬϮϲϮϬϮϳ ƵƐƚŽŵĞƌŚĂƌŐĞ͗ΨϮϳ͘ϬϬΨϮϲ͘ϬϬ ŶĞƌŐLJŚĂƌŐĞ͗ EŽŶͲ^ƵŵŵĞƌͬŬtŚϭϬ͘ϳϯϬΪϭϭ͘ϲϬϴΪ ^ƵŵŵĞƌͬŬtŚϭϲ͘ϱϱϱΪϭϳ͘ϵϬϵΪ ĞĨŝŶŝƚŝŽŶŽĨ^ĞĂƐŽŶ͗^ƵŵŵĞƌŵŽŶƚŚƐĂƌĞ:ƵŶĞƚŚƌŽƵŐŚ^ĞƉƚĞŵďĞƌ͘ EŽŶͲƐƵŵŵĞƌŵŽŶƚŚƐĂƌĞ:ĂŶƵĂƌLJƚŚƌŽƵŐŚDĂLJ ĂŶĚKĐƚŽďĞƌƚŚƌŽƵŐŚĞĐĞŵďĞƌ͘ WKtZK^d:h^dDEd͗ ŝůůƐĐŽŵƉƵƚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞĂƌĞƐƵďũĞĐƚƚŽĂĚũƵƐƚŵĞŶƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞWŽǁĞƌŽƐƚĚũƵƐƚŵĞŶƚ;WͿ͘ D/E/DhD/>>͗ ϮϬϮϲϮϬϮϳ WĞƌDŽŶƚŚ͗ΨϮϳ͘ϬϬΨϮϲ͘ϬϬ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( ŽŶƚŝŶƵĞĚ͙ Zd^,h>'^Ͳ,& ^,dϮK&Ϯ WzDEd͗ WĂLJŵĞŶƚƐĂƌĞĚƵĞŽŶŽƌďĞĨŽƌĞƚŚĞĚƵĞĚĂƚĞ͘ KE/d/KE^K&>/sZz͗ ϭ͘^ĞƌǀŝĐĞƵŶĚĞƌƚŚŝƐƌĂƚĞŝƐŽŶůLJĨŽƌĂŝƌƐŽƵƌĐĞŽƌŐƌŽƵŶĚƐŽƵƌĐĞŚĞĂƚƉƵŵƉƐĂŶĚĂŶLJŽƚŚĞƌĂůůͲĞůĞĐƚƌŝĐƐLJƐƚĞŵƐƚŚĂƚŵĞĞƚ ƚŚĞƐƚĂƚĞĚĞĨĨŝĐŝĞŶĐLJƌĞƋƵŝƌĞŵĞŶƚƐĂƐĞdžƉůĂŝŶĞĚŝŶƚŚĞǀĂŝůĂďŝůŝƚLJƐƵďŚĞĂĚŽĨƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞ͘ Ϯ͘^ĞƌǀŝĐĞƵŶĚĞƌƚŚŝƐƌĂƚĞŵƵƐƚďĞƐĞƉĂƌĂƚĞůLJŵĞƚĞƌĞĚĨƌŽŵŽƚŚĞƌĨĂĐŝůŝƚLJůŽĂĚƐ͘ ϯ͘^ŝŶĐĞƚŚĞ,sƐLJƐƚĞŵŵƵƐƚďĞƐĞƉĂƌĂƚĞůLJŵĞƚĞƌĞĚĨŽƌƚŚŝƐƌĂƚĞ͕ƚŚĞĐƵƐƚŽŵĞƌŝƐƌĞƐƉŽŶƐŝďůĞĨŽƌĂŶLJƌĞǁŝƌŝŶŐĂŶĚŝƚƐ ĂƐƐŽĐŝĂƚĞĚĐŽƐƚƐ͘ ϰ͘^ĞƌǀŝĐĞƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞŝƐƐƵďũĞĐƚƚŽĂƉƉůŝĐĂďůĞƉƌŽǀŝƐŝŽŶƐŽĨZWh͛ƐƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐĂŶĚ ZĞŐƵůĂƚŝŽŶƐ͘ ϱ͘ŶĞƌŐLJƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐŚĂůůŶŽƚďĞƌĞƐŽůĚ͘ ϲ͘ZWhƐŚĂůůŶŽƚďĞůŝĂďůĞĨŽƌĂŶLJĚĂŵĂŐĞŽƌůŽƐƐƐƵƐƚĂŝŶĞĚďLJĐƵƐƚŽŵĞƌƐƌĞƐƵůƚŝŶŐĨƌŽŵŝŶƚĞƌƌƵƉƚŝŽŶƐ͕ĚĞĨŝĐŝĞŶĐŝĞƐ͕Žƌ ŝŵƉĞƌĨĞĐƚŝŽŶƐŽĨƐĞƌǀŝĐĞƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞ͘ ϳ͘hŶůĞƐƐĂƵƚŚŽƌŝnjĞĚďLJĂƐĞƉĂƌĂƚĞǁƌŝƚƚĞŶĂŐƌĞĞŵĞŶƚ͕ƐƚĂŶĚďLJĞůĞĐƚƌŝĐŐĞŶĞƌĂƚŝŶŐĞƋƵŝƉŵĞŶƚŝŶƐƚĂůůĞĚďLJƚŚĞĐƵƐƚŽŵĞƌ ƐŚĂůůŶŽƚďĞŝŶƚĞƌĐŽŶŶĞĐƚĞĚ͕ŽƌŽƉĞƌĂƚĞĚŝŶƉĂƌĂůůĞů͕ǁŝƚŚƚŚĞZWhƐLJƐƚĞŵ͘ƵƐƚŽŵĞƌƐŚĂůůŽǁŶ͕ŝŶƐƚĂůů͕ŽƉĞƌĂƚĞ͕ĂŶĚ ŵĂŝŶƚĂŝŶĞůĞĐƚƌŝĐĂůŝŶƚĞƌůŽĐŬŝŶŐĞƋƵŝƉŵĞŶƚ͕ǁŚŝĐŚǁŝůůƉƌĞǀĞŶƚƉĂƌĂůůĞůŽƉĞƌĂƚŝŽŶ͕ĂŶĚƐƵĐŚĞƋƵŝƉŵĞŶƚƐŚĂůůďĞ ĂƉƉƌŽǀĞĚďLJZWhƉƌŝŽƌƚŽŝŶƐƚĂůůĂƚŝŽŶ͘ ϴ͘dŚŝƐƚĂƌŝĨĨĂƐƐƵŵĞƐƵƐĞŽĨŵĞƚĞƌŝŶŐƚĞĐŚŶŽůŽŐLJĐĂƉĂďůĞŽĨďĞŝŶŐƌĞĂĚƵƐŝŶŐĂƵƚŽŵĂƚĞĚĞƋƵŝƉŵĞŶƚ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( Zd^,h>'^ͲdKh ^,dϭK&Ϯ 'EZ>^Zs/Ͳd/DͲK&Ͳh^ s/>/>/dz͗ ƚĂůůůŽĐĂƚŝŽŶƐĨŽƌůŽĂĚƐŽĨůĞƐƐƚŚĂŶϮϱŬtǁŚĞƌĞĨĂĐŝůŝƚŝĞƐŽĨĂĚĞƋƵĂƚĞĐĂƉĂĐŝƚLJĂŶĚƐƵŝƚĂďůĞǀŽůƚĂŐĞĂƌĞĂĚũĂĐĞŶƚƚŽƚŚĞ ƉƌĞŵŝƐĞƐƚŽďĞƐĞƌǀĞĚ͘&ŽƌůŽĂĚƐǁŚĞƌĞƚŚĞƐĞƌǀŝĐĞĚĞƐŝƌĞĚďLJƚŚĞĐƵƐƚŽŵĞƌŝƐŶŽƚĂĚũĂĐĞŶƚƚŽƚŚĞƉƌĞŵŝƐĞƐƚŽďĞƐĞƌǀĞĚ͕ ĂĚĚŝƚŝŽŶĂůĐŽŶƚƌĂĐƚĂƌƌĂŶŐĞŵĞŶƚƐŵĂLJďĞƌĞƋƵŝƌĞĚƉƌŝŽƌƚŽƐĞƌǀŝĐĞďĞŝŶŐĨƵƌŶŝƐŚĞĚ͘ZWhƌĞƐĞƌǀĞƐƚŚĞƌŝŐŚƚƚŽůŝŵŝƚďŽƚŚƚŚĞ ŶƵŵďĞƌŽĨĐƵƐƚŽŵĞƌƐĂŶĚƚŚĞĂŵŽƵŶƚŽĨůŽĂĚƚĂŬĞŶƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞ͘ WW>/d/KE͗ dŽĐŽŵŵĞƌĐŝĂů͕ŝŶĚƵƐƚƌŝĂů͕ŐŽǀĞƌŶŵĞŶƚĂů͕ĂŶĚŽƚŚĞƌƚLJƉĞƐŽĨ'ĞŶĞƌĂů^ĞƌǀŝĐĞĐƵƐƚŽŵĞƌƐǁŝƚŚĂůůƐĞƌǀŝĐĞƚĂŬĞŶĂƚŽŶĞƉŽŝŶƚĂŶĚ ŵĞĂƐƵƌĞĚƚŚƌŽƵŐŚŽŶĞŵĞƚĞƌ͘ůůĞůĞĐƚƌŝĐĂůƌĞƋƵŝƌĞŵĞŶƚƐĂƚŽŶĞůŽĐĂƚŝŽŶƐŚĂůůďĞƚĂŬĞŶƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞ͘EŽƚĂƉƉůŝĐĂďůĞ ƚŽƚĞŵƉŽƌĂƌLJŽƌƐƚĂŶĚďLJƐĞƌǀŝĐĞ͘ ,ZdZK&^Zs/͗ ^ŝŶŐůĞŽƌƚŚƌĞĞƉŚĂƐĞ͕ϲϬ,Ğƌƚnj͕ĂůƚĞƌŶĂƚŝŶŐĐƵƌƌĞŶƚĂƚĂŶLJŽŶĞŽĨƚŚĞƐƚĂŶĚĂƌĚƐĞĐŽŶĚĂƌLJƐĞƌǀŝĐĞǀŽůƚĂŐĞƐĂƐĚĞƐĐƌŝďĞĚŝŶZWhΖƐ ƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐĂŶĚZĞŐƵůĂƚŝŽŶƐ͘ Zd͗ ϮϬϮϲϮϬϮϳ ƵƐƚŽŵĞƌŚĂƌŐĞ͗ΨϮϳ͘ϬϬΨϮϲ͘ϬϬ ŶĞƌŐLJŚĂƌŐĞ͗ EŽŶͲ^ƵŵŵĞƌŶĞƌŐLJ͗ KŶͲƉĞĂŬŶĞƌŐLJͬŬtŚϮϮ͘ϮϴϳΪϮϰ͘ϭϰϱΪ KĨĨͲƉĞĂŬŶĞƌŐLJͬŬtŚϳ͘ϲϱϭΪϴ͘ϮϳϲΪ ^ƵŵŵĞƌŶĞƌŐLJ͗ KŶͲƉĞĂŬŶĞƌŐLJͬŬtŚϮϳ͘ϴϭϲΪϯϬ͘ϬϴϵΪ KĨĨͲƉĞĂŬŶĞƌŐLJͬŬtŚϴ͘ϭϬϵΪϴ͘ϳϳϮΪ ĞĨŝŶŝƚŝŽŶŽĨ^ĞĂƐŽŶ͗^ƵŵŵĞƌŵŽŶƚŚƐĂƌĞ:ƵŶĞƚŚƌŽƵŐŚ^ĞƉƚĞŵďĞƌ͘ EŽŶͲƐƵŵŵĞƌŵŽŶƚŚƐĂƌĞ:ĂŶƵĂƌLJƚŚƌŽƵŐŚDĂLJ ĂŶĚKĐƚŽďĞƌƚŚƌŽƵŐŚĞĐĞŵďĞƌ͘ ĞĨŝŶŝƚŝŽŶŽĨ KŶͲƉĞĂŬŶĞƌŐLJ͗ůůĞŶĞƌŐLJƵƐĞĚďLJƚŚĞĐƵƐƚŽŵĞƌďĞƚǁĞĞŶƚŚĞŚŽƵƌƐŽĨ ϭϬ͗ϬϬĂ͘ŵ͘ĂŶĚϭϬ͗ϬϬƉ͘ŵ͘DŽŶĚĂLJƚŚƌŽƵŐŚ&ƌŝĚĂLJ͘ ĞĨŝŶŝƚŝŽŶŽĨ KĨĨͲƉĞĂŬŶĞƌŐLJ͗ůůĞŶĞƌŐLJƵƐĞĚďLJƚŚĞĐƵƐƚŽŵĞƌƚŚĂƚŝƐŶŽƚŽŶͲƉĞĂŬĞŶĞƌŐLJ͘ KĨĨͲƉĞĂŬ ŚŽůŝĚĂLJƐ͗EĞǁzĞĂƌƐĂLJ͕DĞŵŽƌŝĂůĂLJ͕/ŶĚĞƉĞŶĚĞŶĐĞĂLJ͕>ĂďŽƌĂLJ͕ dŚĂŶŬƐŐŝǀŝŶŐĂLJ͕ĂŶĚŚƌŝƐƚŵĂƐĂLJ͘ ΎƵƐƚŽŵĞƌŚĂƌŐĞ͗ƵƐƚŽŵĞƌĐŚĂƌŐĞƉĞƌŵŽŶƚŚƉůƵƐĂŶLJĂĚĚŝƚŝŽŶĂůŵĞƚĞƌĐŚĂƌŐĞ ĨŽƌĐŽƐƚƐĂďŽǀĞZWhΖƐƐƚĂŶĚĂƌĚ'^ŵĞƚĞƌĐŽƐƚƐ͘ WKtZK^d:h^dDEd͗ ŝůůƐĐŽŵƉƵƚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞĂƌĞƐƵďũĞĐƚƚŽĂĚũƵƐƚŵĞŶƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞWŽǁĞƌŽƐƚĚũƵƐƚŵĞŶƚ;WͿ͘ D/E/DhD/>>͗ ƵƐƚŽŵĞƌĐŚĂƌŐĞƉĞƌŵŽŶƚŚ͘ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( ŽŶƚŝŶƵĞĚ͙ Zd^,h>'^ͲdKh ^,dϮK&Ϯ WzDEd͗ WĂLJŵĞŶƚƐĂƌĞĚƵĞŽŶŽƌďĞĨŽƌĞƚŚĞĚƵĞĚĂƚĞ͘ KE/d/KE^K&>/sZz͗ ϭ͘^ĞƌǀŝĐĞƵŶĚĞƌƚŚŝƐƌĂƚĞǁŝůůďĞŵĂĚĞĂǀĂŝůĂďůĞĂƚƚŚĞŽƉƚŝŽŶŽĨƚŚĞŐĞŶĞƌĂůƐĞƌǀŝĐĞĐƵƐƚŽŵĞƌ͕ƐƵďũĞĐƚƚŽƚŚĞĂǀĂŝůĂďŝůŝƚLJ ŽĨƚŚĞŶĞĐĞƐƐĂƌLJƚŝŵĞͲŽĨͲƵƐĞŵĞƚĞƌŝŶŐĞƋƵŝƉŵĞŶƚ͘ Ϯ͘ƵƐƚŽŵĞƌƐĐŽŶǀĞƌƚŝŶŐƚŽƚŚĞ'^ͲdKhƌĂƚĞĨƌŽŵƚŚĞ'ĞŶĞƌĂů^ĞƌǀŝĐĞ;'^ͿƌĂƚĞƐŚĂůůŵĂŬĞĂŽŶĞͲƚŝŵĞƉĂLJŵĞŶƚƚŽZWh ĨŽƌĂŶLJĐŽŶǀĞƌƐŝŽŶĐŽƐƚĂďŽǀĞƚŚĞŶŽƌŵĂůĐŽƐƚƚŽŝŶƐƚĂůů'^ͲdKhŵĞƚĞƌŝŶŐ͘ ϯ͘ĐƵƐƚŽŵĞƌŵĂLJƐǁŝƚĐŚďĂĐŬƚŽƚŚĞ'^ƌĂƚĞƉƌŽǀŝĚŝŶŐƚŚĞĐƵƐƚŽŵĞƌŐŝǀĞƐZWhĂƚůĞĂƐƚϲϬĚĂLJƐ͛ŶŽƚŝĐĞĂŶĚĂŐƌĞĞƐƚŽ ƉĂLJĂŶLJŵĞƚĞƌŝŶŐĐŽŶǀĞƌƐŝŽŶĐŽƐƚƐ͘ ϰ͘^ĞƌǀŝĐĞĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞŝƐƐƵďũĞĐƚƚŽĂƉƉůŝĐĂďůĞƉƌŽǀŝƐŝŽŶƐŽĨZWhΖƐƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐ ĂŶĚZĞŐƵůĂƚŝŽŶƐ͘ ϱ͘hŶůĞƐƐĂƵƚŚŽƌŝnjĞĚďLJĂƐĞƉĂƌĂƚĞǁƌŝƚƚĞŶĂŐƌĞĞŵĞŶƚ͕ƐƚĂŶĚďLJĞůĞĐƚƌŝĐŐĞŶĞƌĂƚŝŶŐĞƋƵŝƉŵĞŶƚŝŶƐƚĂůůĞĚďLJƚŚĞĐƵƐƚŽŵĞƌ ƐŚĂůůŶŽƚďĞŝŶƚĞƌĐŽŶŶĞĐƚĞĚ͕ŽƌŽƉĞƌĂƚĞĚŝŶƉĂƌĂůůĞů͕ǁŝƚŚƚŚĞZWhƐLJƐƚĞŵ͘ƵƐƚŽŵĞƌƐŚĂůůŽǁŶ͕ŝŶƐƚĂůů͕ŽƉĞƌĂƚĞ͕ĂŶĚ ŵĂŝŶƚĂŝŶĞůĞĐƚƌŝĐĂůŝŶƚĞƌůŽĐŬŝŶŐĞƋƵŝƉŵĞŶƚ͕ǁŚŝĐŚǁŝůůƉƌĞǀĞŶƚƉĂƌĂůůĞůŽƉĞƌĂƚŝŽŶ͕ĂŶĚƐƵĐŚĞƋƵŝƉŵĞŶƚƐŚĂůůďĞ ĂƉƉƌŽǀĞĚďLJZWhƉƌŝŽƌƚŽŝŶƐƚĂůůĂƚŝŽŶ͘ ϲ͘ZWhƐŚĂůůŶŽƚďĞůŝĂďůĞĨŽƌĂŶLJĚĂŵĂŐĞŽƌůŽƐƐƐƵƐƚĂŝŶĞĚďLJĐƵƐƚŽŵĞƌƐƌĞƐƵůƚŝŶŐĨƌŽŵŝŶƚĞƌƌƵƉƚŝŽŶƐ͕ĚĞĨŝĐŝĞŶĐŝĞƐ͕Žƌ ŝŵƉĞƌĨĞĐƚŝŽŶƐŽĨƐĞƌǀŝĐĞƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞ͘ ϳ͘ŶĞƌŐLJĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐŚĂůůŶŽƚďĞƌĞƐŽůĚ͘ ϴ͘dŚŝƐƚĂƌŝĨĨƌĞƋƵŝƌĞƐƚŚĞƵƐĞŽĨŵĞƚĞƌŝŶŐƚĞĐŚŶŽůŽŐLJĐĂƉĂďůĞŽĨďĞŝŶŐƌĞĂĚƵƐŝŶŐĂƵƚŽŵĂƚĞĚĞƋƵŝƉŵĞŶƚ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( Zd^,h>D'^ ^,dϭK&Ϯ D/hD'EZ>^Zs/Ͳ^KEZz s/>/>/dz͗ ƚĂůůůŽĐĂƚŝŽŶƐĨŽƌůŽĂĚƐǁŚĞƌĞƚŚĞĚĞŵĂŶĚŝƐĂƚůĞĂƐƚϮϱŬtŽƌŵŽƌĞĨŽƌƚŚƌĞĞŽƌŵŽƌĞďŝůůŝŶŐƉĞƌŝŽĚƐŝŶĂƌŽůůŝŶŐϭϮŵŽŶƚŚ ƉĞƌŝŽĚ͕ďƵƚůĞƐƐƚŚĂŶϭϬ͕ϬϬϬŬt͕ĂŶĚǁŚĞƌĞĨĂĐŝůŝƚŝĞƐŽĨĂĚĞƋƵĂƚĞĐĂƉĂĐŝƚLJĂŶĚƐƵŝƚĂďůĞǀŽůƚĂŐĞĂƌĞĂĚũĂĐĞŶƚƚŽƚŚĞƉƌĞŵŝƐĞƐƚŽ ďĞƐĞƌǀĞĚ͘&ŽƌůŽĂĚƐǁŚĞƌĞƚŚĞƐĞƌǀŝĐĞĚĞƐŝƌĞĚďLJƚŚĞĐƵƐƚŽŵĞƌŝƐŶŽƚĂĚũĂĐĞŶƚƚŽƚŚĞƉƌĞŵŝƐĞƐƚŽďĞƐĞƌǀĞĚ͕ĂĚĚŝƚŝŽŶĂůĐŽŶƚƌĂĐƚ ĂƌƌĂŶŐĞŵĞŶƚƐŵĂLJďĞƌĞƋƵŝƌĞĚƉƌŝŽƌƚŽƐĞƌǀŝĐĞďĞŝŶŐĨƵƌŶŝƐŚĞĚ͘ WW>/d/KE͗ dŽĐŽŵŵĞƌĐŝĂů͕ŝŶĚƵƐƚƌŝĂů͕ĂŶĚŐŽǀĞƌŶŵĞŶƚĂůĐƵƐƚŽŵĞƌƐƚĂŬŝŶ ŐĚĞůŝǀĞƌLJĂƚĂǀŽůƚĂŐĞĐŽŵƉůŝĂŶƚǁŝƚŚZWh͛ƐƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ ZƵůĞƐĂŶĚZĞŐƵůĂƚŝŽŶƐ͕ǁŝƚŚĂůůƐĞƌǀŝĐĞƚĂŬĞŶĂƚŽŶĞƉŽŝŶƚƵŶĚĞƌϭϯ͘ϴŬs͕ĂŶĚŵĞĂƐƵƌĞĚƚŚƌŽƵŐŚŽŶĞŵĞƚĞƌ͕ŝŶĐůƵĚŝŶŐďŽƚŚ ^ŝŶŐůĞĂŶĚdŚƌĞĞƉŚĂƐĞǀŽůƚĂŐĞ͘ůƐŽĂƉƉůŝĐĂďůĞƚŽƚĞŵƉŽƌĂƌLJƐĞƌǀŝĐĞŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚZWhΖƐƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐ ĂŶĚZĞŐƵůĂƚŝŽŶƐ͘EŽƚĂƉƉůŝĐĂďůĞƚŽƐƚĂŶĚďLJƐĞƌǀŝĐĞ͘ ,ZdZK&^Zs/͗ ^ŝŶŐůĞŽƌƚŚƌĞĞƉŚĂƐĞ͕ϲϬ,Ğƌƚnj͕ĂůƚĞƌŶĂƚŝŶŐĐƵƌƌĞŶƚĂƚĂŶLJŽŶĞŽĨƚŚĞƐƚĂŶĚĂƌĚƐĞĐŽŶĚĂƌLJƐĞƌǀŝĐĞǀŽůƚĂŐĞƐĂƐĚĞƐĐƌŝďĞĚŝŶZWhΖƐ ƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐĂŶĚZĞŐƵůĂƚŝŽŶƐ͘ Zd͗ ϮϬϮϲϮϬϮϳ ĞŵĂŶĚŚĂƌŐĞ͗ EŽŶͲ^ƵŵŵĞƌͬŬtΨϭϵ͘ϵϯΨϮϬ͘ϵϭ ^ƵŵŵĞƌͬŬtΨϮϲ͘ϴϴΨϮϴ͘ϮϬ ŶĞƌŐLJŚĂƌŐĞ͗ EŽŶͲ^ƵŵŵĞƌͬŬtŚϲ͘ϳϯϯΪϳ͘ϮϬϮΪ ^ƵŵŵĞƌͬŬtŚϲ͘ϳϯϯΪϳ͘ϮϬϮΪ ĞĨŝŶŝƚŝŽŶŽĨ^ĞĂƐŽŶ͗^ƵŵŵĞƌŵŽŶƚŚƐĂƌĞ:ƵŶĞƚŚƌŽƵŐŚ^ĞƉƚĞŵďĞƌ͘ EŽŶͲƐƵŵŵĞƌŵŽŶƚŚƐĂƌĞ:ĂŶƵĂƌLJƚŚƌŽƵŐŚDĂLJ ĂŶĚKĐƚŽďĞƌƚŚƌŽƵŐŚĞĐĞŵďĞƌ͘ WKtZK^d:h^dDEd͗ ŝůůƐĐŽŵƉƵƚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞĂƌĞƐƵďũĞĐƚƚŽĂĚũƵƐƚŵĞŶƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞWŽǁĞƌŽƐƚĚũƵƐƚŵĞŶƚ;WͿ͘ WKtZ&dKZ:h^dDEd͗ dŚĞĐƵƐƚŽŵĞƌĂŐƌĞĞƐƚŽŵĂŝŶƚĂŝŶĂŶĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌŽĨϬ͘ϵϱŽƌŐƌĞĂƚĞƌĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚĂŶĚƚŽƉƌĞǀĞŶƚĂůĞĂĚŝŶŐ ƉŽǁĞƌĨĂĐƚŽƌ͘/ĨƚŚĞĐƵƐƚŽŵĞƌΖƐĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌŝƐůĞƐƐƚŚĂŶϬ͘ϵϱĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚ͕ƚŚĞďŝůůŝŶŐĚĞŵĂŶĚǁŝůůďĞ ĚĞƚĞƌŵŝŶĞĚďLJŵƵůƚŝƉůLJŝŶŐƚŚĞŵĞĂƐƵƌĞĚĚĞŵĂŶĚďLJϬ͘ϵϱĂŶĚĚŝǀŝĚŝŶŐƚŚĞƌĞƐƵůƚƐďLJƚŚĞĐƵƐƚŽŵĞƌΖƐĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌ͘dŚĞ ĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌŝƐĚĞĨŝŶĞĚƚŽďĞƚŚĞƋƵŽƚŝĞŶƚŽďƚĂŝŶĞĚďLJĚŝǀŝĚŝŶŐƚŚĞŬtŚƵƐĞĚĚƵƌŝŶŐƚŚĞŵŽŶƚŚďLJƚŚĞƐƋƵĂƌĞƌŽŽƚŽĨ ƚŚĞƐƵŵŽĨƚŚĞƐƋƵĂƌĞƐŽĨƚŚĞŬtŚƵƐĞĚĂŶĚƚŚĞůĂŐŐŝŶŐƌĞĂĐƚŝǀĞŬŝůŽǀŽůƚͲĂŵƉĞƌĞŚŽƵƌƐƐƵƉƉůŝĞĚĚƵƌŝŶŐƚŚĞƐĂŵĞƉĞƌŝŽĚ͘dŚĞ ĐƵƐƚŽŵĞƌΖƐĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌǁŝůůďĞĚĞƚĞƌŵŝŶĞĚďLJŵĞĂŶƐŽĨƉĞƌŵĂŶĞŶƚůLJŝŶƐƚĂůůĞĚŵĞƚĞƌƐ͘ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( ŽŶƚŝŶƵĞĚ͙ Zd^,h>D'^ ^,dϮK&Ϯ dZD/Ed/KEK&DE͗ DĞĂƐƵƌĞĚĚĞŵĂŶĚŝƐĚĞĨŝŶĞĚĂƐƚŚĞŵĂdžŝŵƵŵƌĂƚĞĂƚǁŚŝĐŚĞŶĞƌŐLJŝƐƵƐĞĚĨŽƌĂŶLJƉĞƌŝŽĚŽĨĨŝĨƚĞĞŶĐŽŶƐĞĐƵƚŝǀĞŵŝŶƵƚĞƐĚƵƌŝŶŐ ƚŚĞďŝůůŝŶŐƉĞƌŝŽĚ͘dŚĞďŝůůŝŶŐĚĞŵĂŶĚƐŚĂůůďĞƚŚĞŐƌĞĂƚĞƌŽĨƚŚĞŵĞĂƐƵƌĞĚĚĞŵĂŶĚĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚĂĚũƵƐƚĞĚĨŽƌƉŽǁĞƌ ĨĂĐƚŽƌ͕ŽƌϱϬйŽĨƚŚĞƌĂƚĐŚĞƚĞĚĚĞŵĂŶĚ͘dŚĞƌĂƚĐŚĞƚĞĚĚĞŵĂŶĚŝƐƚŚĞŵĂdžŝŵƵŵŵĞĂƐƵƌĞĚĚĞŵĂŶĚĂĚũƵƐƚĞĚĨŽƌƉŽǁĞƌĨĂĐƚŽƌ ŽĨĨŽƵƌĐŽŶƐĞĐƵƚŝǀĞďŝůůŝŶŐĐLJĐůĞƐĚƵƌŝŶŐƚŚĞŵŽƐƚƌĞĐĞŶƚDĂLJƚŚƌŽƵŐŚKĐƚŽďĞƌďŝůůŝŶŐƉĞƌŝŽĚƐĚĞƉĞŶĚŝŶŐŽŶƚŚĞďŝůůŝŶŐĐLJĐůĞ͘ ŝůůŝŶŐƉĞƌŝŽĚƐŵĂLJŶŽƚĐŽŝŶĐŝĚĞǁŝƚŚĐĂůĞŶĚĂƌŵŽŶƚŚƐ͘ D/E/DhD/>>͗ dŚĞŵŝŶŝŵƵŵďŝůůƐŚĂůůŶŽƚďĞůĞƐƐƚŚĂŶƚŚĞďŝůůŝŶŐĚĞŵĂŶĚ͕ĂƐƉƌŽǀŝĚĞĚĂďŽǀĞ͕ǁŚĞƚŚĞƌŽƌŶŽƚĞŶĞƌŐLJŝƐƵƐĞĚ͘ WzDEd͗ WĂLJŵĞŶƚƐĂƌĞĚƵĞŽŶŽƌďĞĨŽƌĞƚŚĞĚƵĞĚĂƚĞ͘ KE/d/KE^K&>/sZz͗ ϭ͘^ĞƌǀŝĐĞĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞŝƐƐƵďũĞĐƚƚŽĂƉƉůŝĐĂďůĞƉƌŽǀŝƐŝŽŶƐŽĨZWhΖƐƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐ ĂŶĚZĞŐƵůĂƚŝŽŶƐ͘ Ϯ͘hŶůĞƐƐĂƵƚŚŽƌŝnjĞĚďLJĂƐĞƉĂƌĂƚĞǁƌŝƚƚĞŶĂŐƌĞĞŵĞŶƚ͕ƐƚĂŶĚďLJĞůĞĐƚƌŝĐŐĞŶĞƌĂƚŝŶŐĞƋƵŝƉŵĞŶƚŝŶƐƚĂůůĞĚďLJƚŚĞĐƵƐƚŽŵĞƌ ƐŚĂůůŶŽƚďĞŝŶƚĞƌĐŽŶŶĞĐƚĞĚŽƌŽƉĞƌĂƚĞĚŝŶƉĂƌĂůůĞůǁŝƚŚƚŚĞZWhƐLJƐƚĞŵ͘ƵƐƚŽŵĞƌƐŚĂůůŽǁŶ͕ŝŶƐƚĂůů͕ŽƉĞƌĂƚĞ͕ĂŶĚ ŵĂŝŶƚĂŝŶĞůĞĐƚƌŝĐĂůŝŶƚĞƌůŽĐŬŝŶŐĞƋƵŝƉŵĞŶƚ͕ǁŚŝĐŚǁŝůůƉƌĞǀĞŶƚƉĂƌĂůůĞůŽƉĞƌĂƚŝŽŶ͕ĂŶĚƐƵĐŚĞƋƵŝƉŵĞŶƚƐŚĂůůďĞ ĂƉƉƌŽǀĞĚďLJZWhƉƌŝŽƌƚŽŝŶƐƚĂůůĂƚŝŽŶ͘ ϯ͘ZWhƐŚĂůůŶŽƚďĞůŝĂďůĞĨŽƌĂŶLJĚĂŵĂŐĞŽƌůŽƐƐƐƵƐƚĂŝŶĞĚďLJĐƵƐƚŽŵĞƌƐƌĞƐƵůƚŝŶŐĨƌŽŵŝŶƚĞƌƌƵƉƚŝŽŶƐ͕ĚĞĨŝĐŝĞŶĐŝĞƐ͕Žƌ ŝŵƉĞƌĨĞĐƚŝŽŶƐŽĨƐĞƌǀŝĐĞƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞ͘ ϰ͘ŶĞƌŐLJĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐŚĂůůŶŽƚďĞƌĞƐŽůĚ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( Zd^,h>D'^Ͳ,& ^,dϭK&Ϯ D/hD'EZ>^Zs/Ͳ,/',&&//Ez,sʹůŽƐĞĚ s/>/>/dz͗ ƚĂůůůŽĐĂƚŝŽŶƐĨŽƌůŽĂĚƐǁŚĞƌĞƚŚĞĚĞŵĂŶĚŝƐĂƚůĞĂƐƚϮϱŬtŽƌŵŽƌĞĨŽƌƚŚƌĞĞŽƌŵŽƌĞďŝůůŝŶŐƉĞƌŝŽĚƐŝŶĂƌŽůůŝŶŐϭϮŵŽŶƚŚ ƉĞƌŝŽĚ͕ďƵƚůĞƐƐƚŚĂŶϭϬ͕ϬϬϬŬt͕ĂŶĚǁŚĞƌĞĨĂĐŝůŝƚŝĞƐŽĨĂĚĞƋƵĂƚĞĐĂƉĂĐŝƚLJĂŶĚƐƵŝƚĂďůĞǀŽůƚĂŐĞĂƌĞĂĚũĂĐĞŶƚƚŽƚŚĞƉƌĞŵŝƐĞƐƚŽ ďĞƐĞƌǀĞĚ͕ĂŶĚƚŽĐƵƐƚŽŵĞƌƐǁŚŽ͗ ϭ͘ƌĞĐƵƌƌĞŶƚůLJŽŶƚŚĞDĞĚŝƵŵ'ĞŶĞƌĂů^ĞƌǀŝĐĞͲ,ŝŐŚĨĨŝĐŝĞŶĐLJ,sƌĂƚĞĂƐŽĨ:ĂŶƵĂƌLJϭ͕ϮϬϮϮ͘ Ϯ͘hƐĞĞŝƚŚĞƌĂŶĂŝƌƐŽƵƌĐĞŽƌŐƌŽƵŶĚƐŽƵƌĐĞŚĞĂƚƉƵŵƉĂƐƚŚĞŽŶůLJƐŽƵƌĐĞŽĨŚĞĂƚŝŶŐĂŶĚĐŽŽůŝŶŐŝŶƚŚĞŝƌĨĂĐŝůŝƚLJ͘ ϯ͘hƐĞĂŶĞůĞĐƚƌŝĐǁĂƚĞƌŚĞĂƚĞƌ;ƵƐƵĂůůLJĐŽŶŶĞĐƚĞĚƚŽĂĚĞƐƵƉĞƌŚĞĂƚĞƌŽŶƚŚĞŚĞĂƚƉƵŵƉͿĂƐƚŚĞŽŶůLJƐŽƵƌĐĞŽĨǁĂƚĞƌ ŚĞĂƚŝŶŐ͘ ϰ͘ZĞĐĞŝǀĞƉƌŝŽƌĂƉƉƌŽǀĂůŽĨƚŚĞĞƋƵŝƉŵĞŶƚĨƌŽŵZWh͘EŽƚĞƚŚĂƚĞƋƵŝƉŵĞŶƚŵƵƐƚďĞƌĂƚĞĚďLJƚŚĞŝƌͲŽŶĚŝƚŝŽŶŝŶŐ͕ ,ĞĂƚŝŶŐ͕ĂŶĚZĞĨƌŝŐĞƌĂƚŝŽŶ/ŶƐƚŝƚƵƚĞ;,Z/ͿΎĂŶĚĂƚƚŚĞƚŝŵĞŽĨŝŶƐƚĂůůĂƚŝŽŶ͕ŵĞĞƚƚŚĞŵŝŶŝŵƵŵĞĨĨŝĐŝĞŶĐLJ ƌĞƋƵŝƌĞŵĞŶƚƐĨŽƵŶĚŽŶƚŚĞŽŵŵĞƌĐŝĂů,ĞĂƚWƵŵƉƐZĞďĂƚĞƉƉůŝĐĂƚŝŽŶŝŶĞĨĨĞĐƚĂƚƚŚĞƚŝŵĞ͘dŚĞĐƵƌƌĞŶƚĂƉƉůŝĐĂƚŝŽŶ ŝƐĂǀĂŝůĂďůĞĂƚǁǁǁ͘ƌƉƵ͘ŽƌŐ͘ ϱ͘^ĞƌǀŝĐĞƵŶĚĞƌƚŚŝƐƌĂƚĞŵƵƐƚďĞƐĞƉĂƌĂƚĞůLJŵĞƚĞƌĞĚĨƌŽŵŽƚŚĞƌĨĂĐŝůŝƚLJůŽĂĚƐ͘ Ύ&ŽƌĂŝƌƐŽƵƌĐĞĂŶĚŐƌŽƵŶĚƐŽƵƌĐĞŚĞĂƚƉƵŵƉƐƚŚĞĞĨĨŝĐŝĞŶĐLJƌĂƚŝŶŐƐĂƌĞĚĞƚĞƌŵŝŶĞĚƵƐŝŶŐƚŚĞŝƌͲŽŶĚŝƚŝŽŶŝŶŐ͕,ĞĂƚŝŶŐĂŶĚ ZĞĨƌŝŐĞƌĂƚŝŽŶ/ŶƐƚŝƚƵƚĞ͛Ɛ;,Z/ͿĚŝƌĞĐƚŽƌLJ͕ǁŚŝĐŚŵĂLJďĞĨŽƵŶĚĂƚǁǁǁ͘ĂŚƌŝĚŝƌĞĐƚŽƌLJ͘ŽƌŐ͘ EŽƚĞ͗KƚŚĞƌĂůůͲĞůĞĐƚƌŝĐ,sƐLJƐƚĞŵƐŵĂLJďĞĐŽŶƐŝĚĞƌĞĚĨŽƌƚŚŝƐƌĂƚĞŝĨƚŚĞLJŵĞĞƚƚŚĞƐƚĂƚĞĚĞĨĨŝĐŝĞŶĐLJƐƚĂŶĚĂƌĚƐ͘dŽŚĂǀĞĂ ƐLJƐƚĞŵĐŽŶƐŝĚĞƌĞĚ͕ĐƵƐƚŽŵĞƌƐŵƵƐƚƐƵďŵŝƚĂŶĞŶŐŝŶĞĞƌŝŶŐĂŶĂůLJƐŝƐĚŽĐƵŵĞŶƚŝŶŐƚŚĞĞĨĨŝĐŝĞŶĐLJŽĨƚŚĞƐLJƐƚĞŵ͘ WW>/d/KE͗ dŽĐŽŵŵĞƌĐŝĂů͕ŝŶĚƵƐƚƌŝĂů͕ŐŽǀĞƌŶŵĞŶƚĂů͕ĂŶĚŽƚŚĞƌƚLJƉĞƐŽĨDĞĚŝƵŵ'ĞŶĞƌĂů^ĞƌǀŝĐĞĐƵƐƚŽŵĞƌƐƌĞĐŽŶĨŝŐƵƌŝŶŐƚŚĞŝƌĐƵƌƌĞŶƚ ĞůĞĐƚƌŝĐƐĞƌǀŝĐĞ͕ŽƌĂĚĚŝŶŐĂŶĞǁƐĞƌǀŝĐĞ͕ƚŽƐĞƉĂƌĂƚĞůLJŵĞƚĞƌƚŚĞŝƌŚŝŐŚĞĨĨŝĐŝĞŶĐLJ,sĞƋƵŝƉŵĞŶƚ͘EŽƚĂƉƉůŝĐĂďůĞƚŽƐƚĂŶĚďLJ ƐĞƌǀŝĐĞ͘ ,ZdZK&^Zs/͗ ^ŝŶŐůĞŽƌƚŚƌĞĞƉŚĂƐĞϲϬ,Ğƌƚnj͕ĂůƚĞƌŶĂƚŝŶŐĐƵƌƌĞŶƚĂƚĂŶLJŽŶĞŽĨƚŚĞƐƚĂŶĚĂƌĚƐĞĐŽŶĚĂƌLJƐĞƌǀŝĐĞǀŽůƚĂŐĞƐĂƐĚĞƐĐƌŝďĞĚŝŶZWhΖƐ ƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐĂŶĚZĞŐƵůĂƚŝŽŶƐ͘ Zd͗ ϮϬϮϲϮϬϮϳ ĞŵĂŶĚŚĂƌŐĞ EŽŶͲ^ƵŵŵĞƌͬŬtΨϭϴ͘ϰϰΨϭϵ͘ϯϱ ^ƵŵŵĞƌͬŬtΨϮϯ͘ϬϲΨϮϰ͘ϭϵ ŶĞƌŐLJŚĂƌŐĞ EŽŶͲ^ƵŵŵĞƌͬŬtŚϱ͘ϲϯϬΪϲ͘ϬϮϰΪ ^ƵŵŵĞƌͬŬtŚϳ͘ϬϬϵΪϳ͘ϰϵϳΪ ĞĨŝŶŝƚŝŽŶŽĨ^ĞĂƐŽŶ͗^ƵŵŵĞƌŵŽŶƚŚƐĂƌĞ:ƵŶĞƚŚƌŽƵŐŚ^ĞƉƚĞŵďĞƌ͘ EŽŶͲƐƵŵŵĞƌŵŽŶƚŚƐĂƌĞ:ĂŶƵĂƌLJƚŚƌŽƵŐŚDĂLJ ĂŶĚKĐƚŽďĞƌƚŚƌŽƵŐŚĞĐĞŵďĞƌ͘ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( ŽŶƚŝŶƵĞĚ͙ Zd^,h>D'^Ͳ,& ^,dϮK&Ϯ WKtZK^d:h^dDEd͗ ŝůůƐĐŽŵƉƵƚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞĂƌĞƐƵďũĞĐƚƚŽĂĚũƵƐƚŵĞŶƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞWŽǁĞƌŽƐƚĚũƵƐƚŵĞŶƚ;WͿ͘ WKtZ&dKZ:h^dDEd͗ dŚĞĐƵƐƚŽŵĞƌĂŐƌĞĞƐƚŽŵĂŝŶƚĂŝŶĂŶĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌŽĨϬ͘ϵϱŽƌŐƌĞĂƚĞƌĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚĂŶĚƚŽƉƌĞǀĞŶƚĂůĞĂĚŝŶŐ ƉŽǁĞƌĨĂĐƚŽƌ͘/ĨƚŚĞĐƵƐƚŽŵĞƌΖƐĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌŝƐůĞƐƐƚŚĂŶϬ͘ϵϱĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚ͕ƚŚĞďŝůůŝŶŐĚĞŵĂŶĚǁŝůůďĞ ĚĞƚĞƌŵŝŶĞĚďLJŵƵůƚŝƉůLJŝŶŐƚŚĞŵĞĂƐƵƌĞĚĚĞŵĂŶĚďLJϬ͘ϵϱĂŶĚĚŝǀŝĚŝŶŐƚŚĞƌĞƐƵůƚƐďLJƚŚĞĐƵƐƚŽŵĞƌΖƐĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌ͘dŚĞ ĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌŝƐĚĞĨŝŶĞĚƚŽďĞƚŚĞƋƵŽƚŝĞŶƚŽďƚĂŝŶĞĚďLJĚŝǀŝĚŝŶŐƚŚĞŬtŚƵƐĞĚĚƵƌŝŶŐƚŚĞŵŽŶƚŚďLJƚŚĞƐƋƵĂƌĞƌŽŽƚŽĨ ƚŚĞƐƵŵŽĨƚŚĞƐƋƵĂƌĞƐŽĨƚŚĞŬtŚƵƐĞĚĂŶĚƚŚĞůĂŐŐŝŶŐƌĞĂĐƚŝǀĞŬŝůŽǀŽůƚͲĂŵƉĞƌĞŚŽƵƌƐƐƵƉƉůŝĞĚĚƵƌŝŶŐƚŚĞƐĂŵĞƉĞƌŝŽĚ͘dŚĞ ĐƵƐƚŽŵĞƌΖƐĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌǁŝůůďĞĚĞƚĞƌŵŝŶĞĚďLJŵĞĂŶƐŽĨƉĞƌŵĂŶĞŶƚůLJŝŶƐƚĂůůĞĚŵĞƚĞƌƐ͘ dZD/Ed/KEK&DE͗ DĞĂƐƵƌĞĚĚĞŵĂŶĚŝƐĚĞĨŝŶĞĚĂƐƚŚĞŵĂdžŝŵƵŵƌĂƚĞĂƚǁŚŝĐŚĞŶĞƌŐLJŝƐƵƐĞĚĨŽƌĂŶLJƉĞƌŝŽĚŽĨĨŝĨƚĞĞŶĐŽŶƐĞĐƵƚŝǀĞŵŝŶƵƚĞƐĚƵƌŝŶŐ ƚŚĞďŝůůŝŶŐƉĞƌŝŽĚ͘dŚĞďŝůůŝŶŐĚĞŵĂŶĚƐŚĂůůďĞƚŚĞŐƌĞĂƚĞƌŽĨƚŚĞŵĞĂƐƵƌĞĚĚĞŵĂŶĚĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚĂĚũƵƐƚĞĚĨŽƌƉŽǁĞƌ ĨĂĐƚŽƌ͕ŽƌϱϬйŽĨƚŚĞƌĂƚĐŚĞƚĞĚĚĞŵĂŶĚ͘dŚĞƌĂƚĐŚĞƚĞĚĚĞŵĂŶĚŝƐƚŚĞŵĂdžŝŵƵŵŵĞĂƐƵƌĞĚĚĞŵĂŶĚĂĚũƵƐƚĞĚĨŽƌƉŽǁĞƌĨĂĐƚŽƌ ŽĨĨŽƵƌĐŽŶƐĞĐƵƚŝǀĞďŝůůŝŶŐĐLJĐůĞƐĚƵƌŝŶŐƚŚĞŵŽƐƚƌĞĐĞŶƚDĂLJƚŚƌŽƵŐŚKĐƚŽďĞƌďŝůůŝŶŐƉĞƌŝŽĚƐĚĞƉĞŶĚŝŶŐŽŶƚŚĞďŝůůŝŶŐĐLJĐůĞ͘ ŝůůŝŶŐƉĞƌŝŽĚƐŵĂLJŶŽƚĐŽŝŶĐŝĚĞǁŝƚŚĐĂůĞŶĚĂƌŵŽŶƚŚƐ͘ &ŽƌĂŶĞdžŝƐƚŝŶŐĨĂĐŝůŝƚLJƌĞĐŽŶĨŝŐƵƌŝŶŐŝƚƐĐƵƌƌĞŶƚĞůĞĐƚƌŝĐƐĞƌǀŝĐĞƚŽĐŽŵĞƵŶĚĞƌƚŚŝƐƌĂƚĞďLJƐĞƉĂƌĂƚĞůLJŵĞƚĞƌŝŶŐŝƚƐŚŝŐŚĞĨĨŝĐŝĞŶĐLJ ,sĞƋƵŝƉŵĞŶƚ͕ƚŚĞƌĂƚĐŚĞƚǁŝůůďĞƌĞŵŽǀĞĚĨƌŽŵƚŚĞĐƵƌƌĞŶƚĞůĞĐƚƌŝĐƐĞƌǀŝĐĞ͘dŚĞƌĂƚĐŚĞƚǁŝůůďĞĞĨĨĞĐƚŝǀĞďĞŐŝŶŶŝŶŐŝŶ KĐƚŽďĞƌĨŽůůŽǁŝŶŐƚŚĞĨŝƌƐƚƐĞƉĂƌĂƚĞůLJŵĞƚĞƌĞĚŚŝŐŚĞĨĨŝĐŝĞŶĐLJ,sƐĞƌǀŝĐĞĚƵƌŝŶŐŽŶĞŽĨƚŚĞDĂLJƚŚƌŽƵŐŚKĐƚŽďĞƌďŝůůŝŶŐ ƉĞƌŝŽĚƐĚĞƐĐƌŝďĞĚĂďŽǀĞ͘ƚƚŚĂƚƚŝŵĞƚŚĞƌĂƚĐŚĞƚǁŝůůďĞƌĞĂƉƉůŝĞĚƚŽƚŚĞĐƵƌƌĞŶƚĞůĞĐƚƌŝĐƐĞƌǀŝĐĞĂŶĚǁŝůůďĞĂƉƉůŝĞĚĨŽƌƚŚĞĨŝƌƐƚ ƚŝŵĞƚŽƚŚĞŚŝŐŚͲĞĨĨŝĐŝĞŶĐLJ,sƐĞƌǀŝĐĞ͘ D/E/DhD/>>͗ dŚĞŵŝŶŝŵƵŵďŝůůƐŚĂůůŶŽƚďĞůĞƐƐƚŚĂŶƚŚĞďŝůůŝŶŐĚĞŵĂŶĚ͕ĂƐƉƌŽǀŝĚĞĚĂďŽǀĞ͕ǁŚĞƚŚĞƌŽƌŶŽƚĞŶĞƌŐLJŝƐƵƐĞĚ͘ WzDEd͗ WĂLJŵĞŶƚƐĂƌĞĚƵĞŽŶŽƌďĞĨŽƌĞƚŚĞĚƵĞĚĂƚĞ͘ KE/d/KE^K&>/sZz͗ ϭ͘^ĞƌǀŝĐĞƵŶĚĞƌƚŚŝƐƌĂƚĞŝƐŽŶůLJĨŽƌĂŝƌƐŽƵƌĐĞŽƌŐƌŽƵŶĚƐŽƵƌĐĞŚĞĂƚƉƵŵƉƐĂŶĚĂŶLJŽƚŚĞƌĂůůͲĞůĞĐƚƌŝĐ,sƐLJƐƚĞŵƐ ƚŚĂƚŵĞĞƚƚŚĞƐƚĂƚĞĚĞĨĨŝĐŝĞŶĐLJƌĞƋƵŝƌĞŵĞŶƚƐĂƐĞdžƉůĂŝŶĞĚŝŶƚŚĞǀĂŝůĂďŝůŝƚLJƐƵďŚĞĂĚŽĨƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞ͘ Ϯ͘^ĞƌǀŝĐĞƵŶĚĞƌƚŚŝƐƌĂƚĞŵƵƐƚďĞƐĞƉĂƌĂƚĞůLJŵĞƚĞƌĞĚĨƌŽŵŽƚŚĞƌĨĂĐŝůŝƚLJůŽĂĚƐ͘ ϯ͘^ŝŶĐĞƚŚĞ,sƐLJƐƚĞŵŵƵƐƚďĞƐĞƉĂƌĂƚĞůLJŵĞƚĞƌĞĚĨŽƌƚŚŝƐƌĂƚĞ͕ƚŚĞĐƵƐƚŽŵĞƌŝƐƌĞƐƉŽŶƐŝďůĞĨŽƌĂŶLJƌĞǁŝƌŝŶŐĂŶĚŝƚƐ ĂƐƐŽĐŝĂƚĞĚĐŽƐƚƐ͘ ϰ͘^ĞƌǀŝĐĞƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞŝƐƐƵďũĞĐƚƚŽĂƉƉůŝĐĂďůĞƉƌŽǀŝƐŝŽŶƐŽĨZWh͛ƐƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐĂŶĚ ZĞŐƵůĂƚŝŽŶƐ͘ ϱ͘ŶĞƌŐLJƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐŚĂůůŶŽƚďĞƌĞƐŽůĚ͘ ϲ͘ZWhƐŚĂůůŶŽƚďĞůŝĂďůĞĨŽƌĂŶLJĚĂŵĂŐĞŽƌůŽƐƐƐƵƐƚĂŝŶĞĚďLJĐƵƐƚŽŵĞƌƐƌĞƐƵůƚŝŶŐĨƌŽŵŝŶƚĞƌƌƵƉƚŝŽŶƐ͕ĚĞĨŝĐŝĞŶĐŝĞƐ͕Žƌ ŝŵƉĞƌĨĞĐƚŝŽŶƐŽĨƐĞƌǀŝĐĞƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞ͘ ϳ͘hŶůĞƐƐĂƵƚŚŽƌŝnjĞĚďLJĂƐĞƉĂƌĂƚĞǁƌŝƚƚĞŶĂŐƌĞĞŵĞŶƚ͕ƐƚĂŶĚďLJĞůĞĐƚƌŝĐŐĞŶĞƌĂƚŝŶŐĞƋƵŝƉŵĞŶƚŝŶƐƚĂůůĞĚďLJƚŚĞĐƵƐƚŽŵĞƌ ƐŚĂůůŶŽƚďĞŝŶƚĞƌĐŽŶŶĞĐƚĞĚ͕ŽƌŽƉĞƌĂƚĞĚŝŶƉĂƌĂůůĞů͕ǁŝƚŚƚŚĞZWhƐLJƐƚĞŵ͘ƵƐƚŽŵĞƌƐŚĂůůŽǁŶ͕ŝŶƐƚĂůů͕ŽƉĞƌĂƚĞ͕ĂŶĚ ŵĂŝŶƚĂŝŶĞůĞĐƚƌŝĐĂůŝŶƚĞƌůŽĐŬŝŶŐĞƋƵŝƉŵĞŶƚ͕ǁŚŝĐŚǁŝůůƉƌĞǀĞŶƚƉĂƌĂůůĞůŽƉĞƌĂƚŝŽŶ͕ĂŶĚƐƵĐŚĞƋƵŝƉŵĞŶƚƐŚĂůůďĞ ĂƉƉƌŽǀĞĚďLJZWhƉƌŝŽƌƚŽŝŶƐƚĂůůĂƚŝŽŶ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( Zd^,h>D'^ͲdKh ^,dϭK&Ϯ D/hD'EZ>^Zs/^KEZzͲd/DͲK&Ͳh^ s/>/>/dz͗ ƚĂůůůŽĐĂƚŝŽŶƐĨŽƌůŽĂĚƐǁŚĞƌĞƚŚĞĚĞŵĂŶĚŝƐĂƚůĞĂƐƚϮϱŬtŽƌŵŽƌĞĨŽƌƚŚƌĞĞŽƌŵŽƌĞďŝůůŝŶŐƉĞƌŝŽĚƐŝŶĂƌŽůůŝŶŐϭϮŵŽŶƚŚ ƉĞƌŝŽĚ͕ďƵƚůĞƐƐƚŚĂŶϭϬ͕ϬϬϬŬt͕ĂŶĚǁŚĞƌĞĨĂĐŝůŝƚŝĞƐŽĨĂĚĞƋƵĂƚĞĐĂƉĂĐŝƚLJĂŶĚƐƵŝƚĂďůĞǀŽůƚĂŐĞĂƌĞĂĚũĂĐĞŶƚƚŽƚŚĞƉƌĞŵŝƐĞƐƚŽ ďĞƐĞƌǀĞĚ͘&ŽƌůŽĂĚƐǁŚĞƌĞƚŚĞƐĞƌǀŝĐĞĚĞƐŝƌĞĚďLJƚŚĞĐƵƐƚŽŵĞƌŝƐŶŽƚĂĚũĂĐĞŶƚƚŽƚŚĞƉƌĞŵŝƐĞƐƚŽďĞƐĞƌǀĞĚ͕ĂĚĚŝƚŝŽŶĂůĐŽŶƚƌĂĐƚ ĂƌƌĂŶŐĞŵĞŶƚƐŵĂLJďĞƌĞƋƵŝƌĞĚƉƌŝŽƌƚŽƐĞƌǀŝĐĞďĞŝŶŐĨƵƌŶŝƐŚĞĚ͘ZWhƌĞƐĞƌǀĞƐƚŚĞƌŝŐŚƚƚŽůŝŵŝƚďŽƚŚƚŚĞŶƵŵďĞƌŽĨĐƵƐƚŽŵĞƌƐ ĂŶĚƚŚĞĂŵŽƵŶƚŽĨůŽĂĚƚĂŬĞŶƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞ͘ WW>/d/KE͗ dŽĐŽŵŵĞƌĐŝĂů͕ŝŶĚƵƐƚƌŝĂů͕ĂŶĚŐŽǀĞƌŶŵĞŶƚĂůĐƵƐƚŽŵĞƌƐƚĂŬŝŶŐĚĞůŝǀĞƌLJĂƚĂǀŽůƚĂŐĞĐŽŵƉůŝĂŶƚǁŝƚŚZWh͛ƐƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ ZƵůĞƐĂŶĚZĞŐƵůĂƚŝŽŶƐ͕ǁŝƚŚĂůůƐĞƌǀŝĐĞƚĂŬĞŶĂƚŽŶĞƉŽŝŶƚƵŶĚĞƌϭϯ͘ϴŬs͕ĂŶĚŵĞĂƐƵƌĞĚƚŚƌŽƵŐŚŽŶĞŵĞƚĞƌ͕ŝŶĐůƵĚŝŶŐďŽƚŚ ^ŝŶŐůĞĂŶĚdŚƌĞĞƉŚĂƐĞǀŽůƚĂŐĞ͘ůƐŽĂƉƉůŝĐĂďůĞƚŽƚĞŵƉŽƌĂƌLJƐĞƌǀŝĐĞŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚZWhΖƐƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐ ĂŶĚZĞŐƵůĂƚŝŽŶƐ͘EŽƚĂƉƉůŝĐĂďůĞƚŽƐƚĂŶĚďLJƐĞƌǀŝĐĞ͘ ,ZdZK&^Zs/͗ ^ŝŶŐůĞŽƌƚŚƌĞĞƉŚĂƐĞ͕ϲϬ,Ğƌƚnj͕ĂůƚĞƌŶĂƚŝŶŐĐƵƌƌĞŶƚĂƚĂŶLJŽŶĞŽĨƚŚĞƐƚĂŶĚĂƌĚƐĞĐŽŶĚĂƌLJƐĞƌǀŝĐĞǀŽůƚĂŐĞƐĂƐĚĞƐĐƌŝďĞĚŝŶZWhΖƐ ƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐĂŶĚZĞŐƵůĂƚŝŽŶƐ͘ Zd͗ DĞƚĞƌŚĂƌŐĞ͗ŶLJĂĚĚŝƚŝŽŶĂůŵĞƚĞƌĐŚĂƌŐĞĨŽƌĐŽƐƚƐĂďŽǀĞZWhΖƐƐƚĂŶĚĂƌĚD'^ŵĞƚĞƌĐŽƐƚƐ͘ ϮϬϮϲϮϬϮϳ EŽŶͲ^ƵŵŵĞƌ͗ KŶͲƉĞĂŬĞŵĂŶĚͬŬtΨϭϵ͘ϵϯΨϮϬ͘ϵϭ KĨĨͲƉĞĂŬĞŵĂŶĚͬŬtΨϮ͘ϭϲΨϮ͘Ϯϲ ŶĞƌŐLJŚĂƌŐĞͬŬtŚϲ͘ϵϱϮΪϳ͘ϰϯϳΪ ^ƵŵŵĞƌ͗ KŶͲƉĞĂŬĞŵĂŶĚͬŬtΨϮϲ͘ϴϴΨϮϴ͘ϮϬ KĨĨͲƉĞĂŬĞŵĂŶĚͬŬtΨϮ͘ϭϲΨϮ͘Ϯϲ ŶĞƌŐLJŚĂƌŐĞͬŬtŚϲ͘ϵϱϮΪϳ͘ϰϯϳΪ ĞĨŝŶŝƚŝŽŶŽĨ^ĞĂƐŽŶ͗^ƵŵŵĞƌŵŽŶƚŚƐĂƌĞ:ƵŶĞƚŚƌŽƵŐŚ^ĞƉƚĞŵďĞƌ͘ EŽŶͲƐƵŵŵĞƌŵŽŶƚŚƐĂƌĞ:ĂŶƵĂƌLJƚŚƌŽƵŐŚDĂLJ ĂŶĚKĐƚŽďĞƌƚŚƌŽƵŐŚĞĐĞŵďĞƌ͘ ĞĨŝŶŝƚŝŽŶŽĨ KŶͲƉĞĂŬĞŵĂŶĚ͗dŚĞŵĂdžŝŵƵŵŬtƵƐĞĚďLJƚŚĞĐƵƐƚŽŵĞƌŝŶĂŶLJĨŝĨƚĞĞŶͲŵŝŶƵƚĞƉĞƌŝŽĚ ďĞƚǁĞĞŶƚŚĞŚŽƵƌƐŽĨϭϬ͗ϬϬĂ͘ŵ͘ĂŶĚϭϬ͗ϬϬƉ͘ŵ͘ DŽŶĚĂLJƚŚƌŽƵŐŚ&ƌŝĚĂLJ͘ ĞĨŝŶŝƚŝŽŶŽĨ KĨĨͲƉĞĂŬĞŵĂŶĚ͗dŚĞŵĂdžŝŵƵŵŬtƵƐĞĚďLJƚŚĞĐƵƐƚŽŵĞƌŝŶĂŶLJĨŝĨƚĞĞŶͲŵŝŶƵƚĞƉĞƌŝŽĚ ĚƵƌŝŶŐƚŚĞŽĨĨͲƉĞĂŬƉĞƌŝŽĚ͘ KĨĨͲƉĞĂŬ ŚŽůŝĚĂLJƐ͗EĞǁzĞĂƌƐĂLJ͕DĞŵŽƌŝĂůĂLJ͕/ŶĚĞƉĞŶĚĞŶĐĞĂLJ͕>ĂďŽƌĂLJ͕ dŚĂŶŬƐŐŝǀŝŶŐĂLJ͕ĂŶĚŚƌŝƐƚŵĂƐĂLJ͘ WKtZK^d:h^dDEd͗ ŝůůƐĐŽŵƉƵƚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞĂƌĞƐƵďũĞĐƚƚŽĂĚũƵƐƚŵĞŶƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞWŽǁĞƌŽƐƚĚũƵƐƚŵĞŶƚ;WͿ͘ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( ŽŶƚŝŶƵĞĚ͙ Zd^,h>D'^ͲdKh ^,dϮK&Ϯ WKtZ&dKZ:h^dDEd͗ dŚĞĐƵƐƚŽŵĞƌĂŐƌĞĞƐƚŽŵĂŝŶƚĂŝŶĂŶĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌŽĨϬ͘ϵϱŽƌŐƌĞĂƚĞƌĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚĂŶĚƚŽƉƌĞǀĞŶƚĂůĞĂĚŝŶŐ ƉŽǁĞƌĨĂĐƚŽƌ͘/ĨƚŚĞĐƵƐƚŽŵĞƌΖƐĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌŝƐůĞƐƐƚŚĂŶϬ͘ϵϱĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚ͕ƚŚĞďŝůůŝŶŐĚĞŵĂŶĚǁŝůůďĞ ĚĞƚĞƌŵŝŶĞĚďLJŵƵůƚŝƉůLJŝŶŐƚŚĞŵĞĂƐƵƌĞĚĚĞŵĂŶĚďLJϬ͘ϵϱĂŶĚĚŝǀŝĚŝŶŐƚŚĞƌĞƐƵůƚƐďLJƚŚĞĐƵƐƚŽŵĞƌΖƐĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌ͘dŚĞ ĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌŝƐĚĞĨŝŶĞĚƚŽďĞƚŚĞƋƵŽƚŝĞŶƚŽďƚĂŝŶĞĚďLJĚŝǀŝĚŝŶŐƚŚĞŬtŚƵƐĞĚĚƵƌŝŶŐƚŚĞŵŽŶƚŚďLJƚŚĞƐƋƵĂƌĞƌŽŽƚŽĨ ƚŚĞƐƵŵŽĨƚŚĞƐƋƵĂƌĞƐŽĨƚŚĞŬtŚƵƐĞĚĂŶĚƚŚĞůĂŐŐŝŶŐƌĞĂĐƚŝǀĞŬŝůŽǀŽůƚͲĂŵƉĞƌĞŚŽƵƌƐƐƵƉƉůŝĞĚĚƵƌŝŶŐƚŚĞƐĂŵĞƉĞƌŝŽĚ͘dŚĞ ĐƵƐƚŽŵĞƌΖƐĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌǁŝůůďĞĚĞƚĞƌŵŝŶĞĚďLJŵĞĂŶƐŽĨƉĞƌŵĂŶĞŶƚůLJŝŶƐƚĂůůĞĚŵĞƚĞƌƐ͘ dZD/Ed/KEK&DE͗ DĞĂƐƵƌĞĚĚĞŵĂŶĚŝƐĚĞĨŝŶĞĚĂƐƚŚĞŵĂdžŝŵƵŵƌĂƚĞĂƚǁŚŝĐŚĞŶĞƌŐLJŝƐƵƐĞĚĨŽƌĂŶLJƉĞƌŝŽĚŽĨĨŝĨƚĞĞŶĐŽŶƐĞĐƵƚŝǀĞŵŝŶƵƚĞƐĚƵƌŝŶŐ ƚŚĞďŝůůŝŶŐƉĞƌŝŽĚ͘ />>/E'DE͗ dŚĞŽŶͲƉĞĂŬďŝůůŝŶŐĚĞŵĂŶĚƐŚĂůůďĞƚŚĞŐƌĞĂƚĞƌŽĨƚŚĞŵĞĂƐƵƌĞĚŽŶͲƉĞĂŬĚĞŵĂŶĚĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚĂĚũƵƐƚĞĚĨŽƌƉŽǁĞƌ ĨĂĐƚŽƌ͕ŽƌϱϬйŽĨƚŚĞƌĂƚĐŚĞƚĞĚŽŶͲƉĞĂŬĚĞŵĂŶĚ͘dŚĞƌĂƚĐŚĞƚĞĚŽŶͲƉĞĂŬĚĞŵĂŶĚŝƐƚŚĞŵĂdžŝŵƵŵŵĞĂƐƵƌĞĚŽŶͲƉĞĂŬĚĞŵĂŶĚ ĂĚũƵƐƚĞĚĨŽƌƉŽǁĞƌĨĂĐƚŽƌŽĨĨŽƵƌĐŽŶƐĞĐƵƚŝǀĞďŝůůŝŶŐĐLJĐůĞƐĚƵƌŝŶŐƚŚĞŵŽƐƚƌĞĐĞŶƚDĂLJƚŚƌŽƵŐŚKĐƚŽďĞƌďŝůůŝŶŐƉĞƌŝŽĚƐ ĚĞƉĞŶĚŝŶŐŽŶƚŚĞďŝůůŝŶŐĐLJĐůĞ͘ŝůůŝŶŐƉĞƌŝŽĚƐŵĂLJŶŽƚĐŽŝŶĐŝĚĞǁŝƚŚĐĂůĞŶĚĂƌŵŽŶƚŚƐ͘ dŚĞŽĨĨͲƉĞĂŬďŝůůŝŶŐĚĞŵĂŶĚƐŚĂůůďĞƚŚĞŵĞĂƐƵƌĞĚŽĨĨͲƉĞĂŬĚĞŵĂŶĚĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚĂĚũƵƐƚĞĚĨŽƌƉŽǁĞƌĨĂĐƚŽƌůĞƐƐƚŚĞŽŶͲ ƉĞĂŬďŝůůŝŶŐĚĞŵĂŶĚĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚ͘ dŚĞƚŽƚĂůďŝůůŝŶŐĚĞŵĂŶĚƐŚĂůůďĞŽŶůLJKŶͲƉĞĂŬĚĞŵĂŶĚǁŚĞŶKŶͲƉĞĂŬĚĞŵĂŶĚŝƐŚŝŐŚĞƌƚŚĂŶKĨĨͲƉĞĂŬĚĞŵĂŶĚ͘tŚĞŶKĨĨͲ ƉĞĂŬĚĞŵĂŶĚŝƐŚŝŐŚĞƌƚŚĂŶKŶͲƉĞĂŬĚĞŵĂŶĚ͕KŶͲƉĞĂŬĚĞŵĂŶĚǁŝůůďĞďŝůůĞĚŝŶĂĚĚŝƚŝŽŶƚŽƚŚĞKĨĨͲƉĞĂŬĚĞŵĂŶĚƚŚĂƚĞdžĐĞĞĚƐ KŶͲƉĞĂŬĚĞŵĂŶĚ͘ D/E/DhD/>>͗ dŚĞŵŝŶŝŵƵŵďŝůůƐŚĂůůŶŽƚďĞůĞƐƐƚŚĂŶƚŚĞďŝůůŝŶŐĚĞŵĂŶĚ͕ĂƐƉƌŽǀŝĚĞĚĂďŽǀĞ͕ǁŚĞƚŚĞƌŽƌŶŽƚĞŶĞƌŐLJŝƐƵƐĞĚƉůƵƐĂŶLJŵĞƚĞƌ ĐŚĂƌŐĞ͘ WzDEd͗ WĂLJŵĞŶƚƐĂƌĞĚƵĞŽŶŽƌďĞĨŽƌĞƚŚĞĚƵĞĚĂƚĞ͘ KE/d/KE^K&>/sZz͗ ϭ͘^ĞƌǀŝĐĞƵŶĚĞƌƚŚŝƐƌĂƚĞǁŝůůďĞŵĂĚĞĂǀĂŝůĂďůĞĂƚƚŚĞŽƉƚŝŽŶŽĨƚŚĞŵĞĚŝƵŵŐĞŶĞƌĂůƐĞƌǀŝĐĞĐƵƐƚŽŵĞƌ͕ƐƵďũĞĐƚƚŽƚŚĞ ĂǀĂŝůĂďŝůŝƚLJŽĨƚŚĞŶĞĐĞƐƐĂƌLJdKhŵĞƚĞƌŝŶŐĞƋƵŝƉŵĞŶƚ͘ Ϯ͘ƵƐƚŽŵĞƌƐĐŽŶǀĞƌƚŝŶŐƚŽƚŚĞD'^ͲdKhƌĂƚĞĨƌŽŵƚŚĞD'^ƌĂƚĞƐŚĂůůŵĂŬĞĂŽŶĞͲƚŝŵĞƉĂLJŵĞŶƚƚŽZWhĨŽƌĂŶLJ ĐŽŶǀĞƌƐŝŽŶĐŽƐƚĂďŽǀĞƚŚĞŶŽƌŵĂůĐŽƐƚƚŽŝŶƐƚĂůůD'^ͲdKhŵĞƚĞƌŝŶŐ͘ ϯ͘ĐƵƐƚŽŵĞƌŵĂLJƐǁŝƚĐŚďĂĐŬƚŽƚŚĞD'^ƌĂƚĞƉƌŽǀŝĚŝŶŐƚŚĞĐƵƐƚŽŵĞƌŐŝǀĞƐZWhĂƚůĞĂƐƚϲϬĚĂLJƐ͛ŶŽƚŝĐĞĂŶĚĂŐƌĞĞƐƚŽ ƉĂLJĂŶLJŵĞƚĞƌŝŶŐĐŽŶǀĞƌƐŝŽŶĐŽƐƚƐ͘ ϰ͘^ĞƌǀŝĐĞĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞŝƐƐƵďũĞĐƚƚŽĂƉƉůŝĐĂďůĞƉƌŽǀŝƐŝŽŶƐŽĨZWhΖƐƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐ ĂŶĚZĞŐƵůĂƚŝŽŶƐ͘ ϱ͘hŶůĞƐƐĂƵƚŚŽƌŝnjĞĚďLJĂƐĞƉĂƌĂƚĞǁƌŝƚƚĞŶĂŐƌĞĞŵĞŶƚ͕ƐƚĂŶĚďLJĞůĞĐƚƌŝĐŐĞŶĞƌĂƚŝŶŐĞƋƵŝƉŵĞŶƚŝŶƐƚĂůůĞĚďLJƚŚĞĐƵƐƚŽŵĞƌ ƐŚĂůůŶŽƚďĞŝŶƚĞƌĐŽŶŶĞĐƚĞĚŽƌŽƉĞƌĂƚĞĚŝŶƉĂƌĂůůĞůǁŝƚŚƚŚĞZWhƐLJƐƚĞŵ͘ƵƐƚŽŵĞƌƐŚĂůůŽǁŶ͕ŝŶƐƚĂůů͕ŽƉĞƌĂƚĞ͕ĂŶĚ ŵĂŝŶƚĂŝŶĞůĞĐƚƌŝĐĂůŝŶƚĞƌůŽĐŬŝŶŐĞƋƵŝƉŵĞŶƚ͕ǁŚŝĐŚǁŝůůƉƌĞǀĞŶƚƉĂƌĂůůĞůŽƉĞƌĂƚŝŽŶ͕ĂŶĚƐƵĐŚĞƋƵŝƉŵĞŶƚƐŚĂůůďĞ ĂƉƉƌŽǀĞĚďLJZWhƉƌŝŽƌƚŽŝŶƐƚĂůůĂƚŝŽŶ͘ ϲ͘ZWhƐŚĂůůŶŽƚďĞůŝĂďůĞĨŽƌĂŶLJĚĂŵĂŐĞŽƌůŽƐƐƐƵƐƚĂŝŶĞĚďLJĐƵƐƚŽŵĞƌƐƌĞƐƵůƚŝŶŐĨƌŽŵŝŶƚĞƌƌƵƉƚŝŽŶƐ͕ĚĞĨŝĐŝĞŶĐŝĞƐ͕Žƌ ŝŵƉĞƌĨĞĐƚŝŽŶƐŽĨƐĞƌǀŝĐĞƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞ͘ ϳ͘ŶĞƌŐLJĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐŚĂůůŶŽƚďĞƌĞƐŽůĚ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ Zd^,h>>'^ ^,dϭK&Ϯ >Z''EZ>^Zs/WZ/DZz s/>/>/dz͗ ƚĂůůůŽĐĂƚŝŽŶƐĨŽƌůŽĂĚƐǁŚĞƌĞƚŚĞĚĞŵĂŶĚŝƐĂƚůĞĂƐƚϮϱŬtŽƌŵŽƌĞĨŽƌƚŚƌĞĞŽƌŵŽƌĞďŝůůŝŶŐƉĞƌŝŽĚƐŝŶĂŐŝǀĞŶŝŶĂƌŽůůŝŶŐϭϮ ŵŽŶƚŚƉĞƌŝŽĚ͕ďƵƚůĞƐƐƚŚĂŶϭϬ͕ϬϬϬŬt͕ĂŶĚǁŚĞƌĞĨĂĐŝůŝƚŝĞƐŽĨĂĚĞƋƵĂƚĞĐĂƉĂĐŝƚLJĂŶĚƐƵŝƚĂďůĞǀŽůƚĂŐĞĂƌĞĂĚũĂĐĞŶƚƚŽƚŚĞ ƉƌĞŵŝƐĞƐƚŽďĞƐĞƌǀĞĚ͘&ŽƌůŽĂĚƐǁŚĞƌĞƚŚĞƐĞƌǀŝĐĞĚĞƐŝƌĞĚďLJƚŚĞĐƵƐƚŽŵĞƌŝƐŶŽƚĂĚũĂĐĞŶƚƚŽƚŚĞƉƌĞŵŝƐĞƐƚŽďĞƐĞƌǀĞĚ͕ ĂĚĚŝƚŝŽŶĂůĐŽŶƚƌĂĐƚĂƌƌĂŶŐĞŵĞŶƚƐŵĂLJďĞƌĞƋƵŝƌĞĚƉƌŝŽƌƚŽƐĞƌǀŝĐĞďĞŝŶŐĨƵƌŶŝƐŚĞĚ͘ WW>/d/KE͗ dŽĐŽŵŵĞƌĐŝĂů͕ŝŶĚƵƐƚƌŝĂů͕ĂŶĚŐŽǀĞƌŶŵĞŶƚĂůĐƵƐƚŽŵĞƌƐƚĂŬŝŶŐĚĞůŝǀĞƌLJĂƚĂǀŽůƚĂŐĞĐŽŵƉůŝĂŶƚǁŝƚŚZWh͛ƐƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ ZƵůĞƐĂŶĚZĞŐƵůĂƚŝŽŶƐ͕ǁŝƚŚĂůůƐĞƌǀŝĐĞƚĂŬĞŶƚŚƌŽƵŐŚŽŶĞŵĞƚĞƌ͘dŚĞĞůĞĐƚƌŝĐƐĞƌǀŝĐĞƐŚĂůůďĞƚŚƌĞĞͲƉŚĂƐĞĂŶĚƚŚĞĚĞůŝǀĞƌLJ ǀŽůƚĂŐĞƐŚĂůůŶŽŵŝŶĂůůLJďĞϭϯ͘ϴŬs'Zzͬϳ͘ϵϳŬs͘ůƐŽĂƉƉůŝĐĂďůĞƚŽƚĞŵƉŽƌĂƌLJƐĞƌǀŝĐĞŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚZWhΖƐƉƵďůŝƐŚĞĚ ůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐĂŶĚZĞŐƵůĂƚŝŽŶƐ͘EŽƚĂƉƉůŝĐĂďůĞƚŽƐƚĂŶĚďLJƐĞƌǀŝĐĞ͘ ,ZdZK&^Zs/͗ dŚƌĞĞƉŚĂƐĞ͕ϲϬ,Ğƌƚnj͕ĂůƚĞƌŶĂƚŝŶŐĐƵƌƌĞŶƚĂƚĂŶLJŽŶĞŽĨƚŚĞƐƚĂŶĚĂƌĚƉƌŝŵĂƌLJƐĞƌǀŝĐĞǀŽůƚĂŐĞƐĂƐĚĞƐĐƌŝďĞĚŝŶZWhΖƐƉƵďůŝƐŚĞĚ ůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐĂŶĚZĞŐƵůĂƚŝŽŶƐ͘ Zd͗ ϮϬϮϲϮϬϮϳ ĞŵĂŶĚŚĂƌŐĞͬŬtΨϮϮ͘ϱϭΨϮϮ͘ϵϱ ŶĞƌŐLJŚĂƌŐĞͬŬtŚϲ͘ϳϯϯΪϳ͘ϮϬϮΪ WKtZK^d:h^dDEd͗ ŝůůƐĐŽŵƉƵƚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞĂƌĞƐƵďũĞĐƚƚŽĂĚũƵƐƚŵĞŶƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞWŽǁĞƌŽƐƚĚũƵƐƚŵĞŶƚ;WͿ͘ WKtZ&dKZ:h^dDEd͗ dŚĞĐƵƐƚŽŵĞƌĂŐƌĞĞƐƚŽŵĂŝŶƚĂŝŶĂŶĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌŽĨϬ͘ϵϱŽƌŐƌĞĂƚĞƌĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚĂŶĚƚŽƉƌĞǀĞŶƚĂůĞĂĚŝŶŐ ƉŽǁĞƌĨĂĐƚŽƌ͘/ĨƚŚĞĐƵƐƚŽŵĞƌΖƐĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌŝƐůĞƐƐƚŚĂŶϬ͘ϵϱĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚ͕ƚŚĞďŝůůŝŶŐĚĞŵĂŶĚǁŝůůďĞ ĚĞƚĞƌŵŝŶĞĚďLJŵƵůƚŝƉůLJŝŶŐƚŚĞŵĞĂƐƵƌĞĚĚĞŵĂŶĚďLJϬ͘ϵϱĂŶĚĚŝǀŝĚŝŶŐƚŚĞƌĞƐƵůƚƐďLJƚŚĞĐƵƐƚŽŵĞƌΖƐĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌ͘dŚĞ ĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌŝƐĚĞĨŝŶĞĚƚŽďĞƚŚĞƋƵŽƚŝĞŶƚŽďƚĂŝŶĞĚďLJĚŝǀŝĚŝŶŐƚŚĞŬtŚƵƐĞĚĚƵƌŝŶŐƚŚĞŵŽŶƚŚďLJƚŚĞƐƋƵĂƌĞƌŽŽƚŽĨ ƚŚĞƐƵŵŽĨƚŚĞƐƋƵĂƌĞƐŽĨƚŚĞŬtŚƵƐĞĚĂŶĚƚŚĞůĂŐŐŝŶŐƌĞĂĐƚŝǀĞŬŝůŽǀŽůƚͲĂŵƉĞƌĞŚŽƵƌƐƐƵƉƉůŝĞĚĚƵƌŝŶŐƚŚĞƐĂŵĞƉĞƌŝŽĚ͘dŚĞ ĐƵƐƚŽŵĞƌΖƐĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌǁŝůůďĞĚĞƚĞƌŵŝŶĞĚďLJŵĞĂŶƐŽĨƉĞƌŵĂŶĞŶƚůLJŝŶƐƚĂůůĞĚŵĞƚĞƌƐ͘ WZ/DZzDdZ/^KhEd͗ ƵƐƚŽŵĞƌƐĂƉƉƌŽǀĞĚĨŽƌŵĞƚĞƌŝŶŐĂƚϭϯ͘ϴŬsǁŝůůƌĞĐĞŝǀĞĂĚŝƐĐŽƵŶƚŽĨϭ͘ϮϱйŽŶďĂƐĞƌĂƚĞĐŚĂƌŐĞƐĨŽƌŵĞĂƐƵƌĞĚĚĞŵĂŶĚĂŶĚ ĞŶĞƌŐLJ͘ dZE^&KZDZKtEZ^,/WZ/d͗ ƵƐƚŽŵĞƌƐŽǁŶŝŶŐƚƌĂŶƐĨŽƌŵĞƌƐǁŝůůƌĞĐĞŝǀĞĂĐƌĞĚŝƚŽŶĞĂĐŚŵŽŶƚŚΖƐŵĞĂƐƵƌĞĚĚĞŵĂŶĚ͘ ϮϬϮϲϮϬϮϳ ƌĞĚŝƚƉĞƌŬtΨϬ͘ϱϬΨϬ͘ϱϬ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( ŽŶƚŝŶƵĞĚ͙ Zd^,h>>'^ ^,dϮK&Ϯ dZD/Ed/KEK&DE͗ DĞĂƐƵƌĞĚĚĞŵĂŶĚŝƐĚĞĨŝŶĞĚĂƐƚŚĞŵĂdžŝŵƵŵƌĂƚĞĂƚǁŚŝĐŚĞŶĞƌŐLJŝƐƵƐĞĚĨŽƌĂŶLJƉĞƌŝŽĚŽĨĨŝĨƚĞĞŶĐŽŶƐĞĐƵƚŝǀĞŵŝŶƵƚĞƐĚƵƌŝŶŐ ƚŚĞďŝůůŝŶŐƉĞƌŝŽĚ͘dŚĞďŝůůŝŶŐĚĞŵĂŶĚƐŚĂůůďĞƚŚĞŐƌĞĂƚĞƌŽĨƚŚĞŵĞĂƐƵƌĞĚĚĞŵĂŶĚĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚĂĚũƵƐƚĞĚĨŽƌƉŽǁĞƌ ĨĂĐƚŽƌ͕ŽƌϱϬйŽĨƚŚĞƌĂƚĐŚĞƚĞĚĚĞŵĂŶĚ͘dŚĞƌĂƚĐŚĞƚĞĚĚĞŵĂŶĚŝƐƚŚĞŵĂdžŝŵƵŵŵĞĂƐƵƌĞĚĚĞŵĂŶĚĂĚũƵƐƚĞĚĨŽƌƉŽǁĞƌĨĂĐƚŽƌ ŽĨĨŽƵƌĐŽŶƐĞĐƵƚŝǀĞďŝůůŝŶŐĐLJĐůĞƐĚƵƌŝŶŐƚŚĞŵŽƐƚƌĞĐĞŶƚDĂLJƚŚƌŽƵŐŚKĐƚŽďĞƌďŝůůŝŶŐƉĞƌŝŽĚƐĚĞƉĞŶĚŝŶŐŽŶƚŚĞďŝůůŝŶŐĐLJĐůĞ͘ ŝůůŝŶŐƉĞƌŝŽĚƐŵĂLJŶŽƚĐŽŝŶĐŝĚĞǁŝƚŚĐĂůĞŶĚĂƌŵŽŶƚŚƐ͘ D/E/DhD/>>͗ dŚĞŵŝŶŝŵƵŵďŝůůƐŚĂůůŶŽƚďĞůĞƐƐƚŚĂŶƚŚĞďŝůůŝŶŐĚĞŵĂŶĚ͕ĂƐƉƌŽǀŝĚĞĚĂďŽǀĞ͕ǁŚĞƚŚĞƌŽƌŶŽƚĞŶĞƌŐLJŝƐƵƐĞĚ͘ WzDEd͗ WĂLJŵĞŶƚƐĂƌĞĚƵĞŽŶŽƌďĞĨŽƌĞƚŚĞĚƵĞĚĂƚĞ͘ KE/d/KE^K&>/sZz͗ ϭ͘^ĞƌǀŝĐĞĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞŝƐƐƵďũĞĐƚƚŽĂƉƉůŝĐĂďůĞƉƌŽǀŝƐŝŽŶƐŽĨZWhΖƐƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐ ĂŶĚZĞŐƵůĂƚŝŽŶƐ͘ Ϯ͘hŶůĞƐƐĂƵƚŚŽƌŝnjĞĚďLJĂƐĞƉĂƌĂƚĞǁƌŝƚƚĞŶĂŐƌĞĞŵĞŶƚ͕ƐƚĂŶĚďLJĞůĞĐƚƌŝĐŐĞŶĞƌĂƚŝŶŐĞƋƵŝƉŵĞŶƚŝŶƐƚĂůůĞĚďLJƚŚĞĐƵƐƚŽŵĞƌ ƐŚĂůůŶŽƚďĞŝŶƚĞƌĐŽŶŶĞĐƚĞĚŽƌŽƉĞƌĂƚĞĚŝŶƉĂƌĂůůĞůǁŝƚŚƚŚĞZWhƐLJƐƚĞŵ͘ƵƐƚŽŵĞƌƐŚĂůůŽǁŶ͕ŝŶƐƚĂůů͕ŽƉĞƌĂƚĞ͕ĂŶĚ ŵĂŝŶƚĂŝŶĞůĞĐƚƌŝĐĂůŝŶƚĞƌůŽĐŬŝŶŐĞƋƵŝƉŵĞŶƚ͕ǁŚŝĐŚǁŝůůƉƌĞǀĞŶƚƉĂƌĂůůĞůŽƉĞƌĂƚŝŽŶ͕ĂŶĚƐƵĐŚĞƋƵŝƉŵĞŶƚƐŚĂůůďĞ ĂƉƉƌŽǀĞĚďLJZWhƉƌŝŽƌƚŽŝŶƐƚĂůůĂƚŝŽŶ͘ ϯ͘ZWhƐŚĂůůŶŽƚďĞůŝĂďůĞĨŽƌĂŶLJĚĂŵĂŐĞŽƌůŽƐƐƐƵƐƚĂŝŶĞĚďLJĐƵƐƚŽŵĞƌƐƌĞƐƵůƚŝŶŐĨƌŽŵŝŶƚĞƌƌƵƉƚŝŽŶƐ͕ĚĞĨŝĐŝĞŶĐŝĞƐ͕Žƌ ŝŵƉĞƌĨĞĐƚŝŽŶƐŽĨƐĞƌǀŝĐĞƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞ͘ ϰ͘ŶĞƌŐLJĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐŚĂůůŶŽƚďĞƌĞƐŽůĚ͘ ϱ͘ƐĞƉĂƌĂƚĞĞůĞĐƚƌŝĐƐĞƌǀŝĐĞĂŐƌĞĞŵĞŶƚŵĂLJďĞƌĞƋƵŝƌĞĚĨŽƌƐĞƌǀŝĐĞƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞ͘ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ Zd^,h>>'^ͲdKh ^,dϭK&ϯ >Z''EZ>^Zs/WZ/DZzͲd/DͲK&Ͳh^ s/>/>/dz͗ ƚĂůůůŽĐĂƚŝŽŶƐĨŽƌůŽĂĚƐǁŚĞƌĞƚŚĞĚĞŵĂŶĚŝƐĂƚůĞĂƐƚϮϱŬtŽƌŵŽƌĞĨŽƌƚŚƌĞĞŽƌŵŽƌĞďŝůůŝŶŐƉĞƌŝŽĚƐŝŶĂŝŶĂƌŽůůŝŶŐϭϮŵŽŶƚŚ ƉĞƌŝŽĚ͕ďƵƚůĞƐƐƚŚĂŶϭϬ͕ϬϬϬŬt͕ĂŶĚǁŚĞƌĞĨĂĐŝůŝƚŝĞƐŽĨĂĚĞƋƵĂƚĞĐĂƉĂĐŝƚLJĂŶĚƐƵŝƚĂďůĞǀŽůƚĂŐĞĂƌĞĂĚũĂĐĞŶƚƚŽƚŚĞƉƌĞŵŝƐĞƐƚŽ ďĞƐĞƌǀĞĚ͘&ŽƌůŽĂĚƐǁŚĞƌĞƚŚĞƐĞƌǀŝĐĞĚĞƐŝƌĞĚďLJƚŚĞĐƵƐƚŽŵĞƌŝƐŶŽƚĂĚũĂĐĞŶƚƚŽƚŚĞƉƌĞŵŝƐĞƐƚŽďĞƐĞƌǀĞĚ͕ĂĚĚŝƚŝŽŶĂůĐŽŶƚƌĂĐƚ ĂƌƌĂŶŐĞŵĞŶƚƐŵĂLJďĞƌĞƋƵŝƌĞĚƉƌŝŽƌƚŽƐĞƌǀŝĐĞďĞŝŶŐĨƵƌŶŝƐŚĞĚ͘ WW>/d/KE͗ dŽĐŽŵŵĞƌĐŝĂů͕ŝŶĚƵƐƚƌŝĂů͕ĂŶĚŐŽǀĞƌŶŵĞŶƚĂůĐƵƐƚŽŵĞƌƐƚĂŬŝŶŐĚĞůŝǀĞƌLJĂƚĂǀŽůƚĂŐĞĐŽŵƉůŝĂŶƚǁŝƚŚZWh͛ƐƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ ZƵůĞƐĂŶĚZĞŐƵůĂƚŝŽŶƐ͕ǁŝƚŚĂůůƐĞƌǀŝĐĞƚĂŬĞŶƚŚƌŽƵŐŚŽŶĞŵĞƚĞƌ͘dŚĞĞůĞĐƚƌŝĐƐĞƌǀŝĐĞƐŚĂůůďĞƚŚƌĞĞͲƉŚĂƐĞĂŶĚƚŚĞĚĞůŝǀĞƌLJ ǀŽůƚĂŐĞƐŚĂůůŶŽŵŝŶĂůůLJďĞϭϯ͘ϴŬs'Zzͬϳ͘ϵϳŬs͘ůƐŽĂƉƉůŝĐĂďůĞƚŽƚĞŵƉŽƌĂƌLJƐĞƌǀŝĐĞŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚZWhΖƐƉƵďůŝƐŚĞĚ ůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐĂŶĚZĞŐƵůĂƚŝŽŶƐ͘EŽƚĂƉƉůŝĐĂďůĞƚŽƐƚĂŶĚďLJƐĞƌǀŝĐĞ͘ ,ZdZK&^Zs/͗ dŚƌĞĞƉŚĂƐĞ͕ϲϬ,Ğƌƚnj͕ĂůƚĞƌŶĂƚŝŶŐĐƵƌƌĞŶƚĂƚƚŚĞWƌŝŵĂƌLJƐĞƌǀŝĐĞǀŽůƚĂŐĞŽĨϭϯ͘ϴŬs'Zzͬϳ͘ϵϳŬsĂƐĚĞƐĐƌŝďĞĚŝŶZWhΖƐ ƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐĂŶĚZĞŐƵůĂƚŝŽŶƐ͘ Zd͗ DĞƚĞƌŚĂƌŐĞ͗ŶLJĂĚĚŝƚŝŽŶĂůŵĞƚĞƌĐŚĂƌŐĞĨŽƌĐŽƐƚƐĂďŽǀĞZWhΖƐƐƚĂŶĚĂƌĚ>'^ŵĞƚĞƌĐŽƐƚƐ͘ ϮϬϮϲϮϬϮϳ EŽŶͲ^ƵŵŵĞƌ͗ KŶͲƉĞĂŬĞŵĂŶĚͬŬtΨϭϵ͘ϵϯΨϮϬ͘ϵϭ KĨĨͲƉĞĂŬĞŵĂŶĚͬŬtΨϮ͘ϭϲΨϮ͘Ϯϲ ŶĞƌŐLJŚĂƌŐĞͬŬtŚϲ͘ϵϱϮΪϳ͘ϰϯϳΪ ^ƵŵŵĞƌ͗ KŶͲƉĞĂŬĞŵĂŶĚͬŬtΨϮϲ͘ϴϴΨϮϴ͘ϮϬ KĨĨͲƉĞĂŬĞŵĂŶĚͬŬtΨϮ͘ϭϲΨϮ͘Ϯϲ ŶĞƌŐLJŚĂƌŐĞͬŬtŚϲ͘ϵϱϮΪϳ͘ϰϯϳΪ ĞĨŝŶŝƚŝŽŶŽĨ^ĞĂƐŽŶ͗^ƵŵŵĞƌŵŽŶƚŚƐĂƌĞ:ƵŶĞƚŚƌŽƵŐŚ^ĞƉƚĞŵďĞƌ͘ EŽŶͲƐƵŵŵĞƌŵŽŶƚŚƐĂƌĞ:ĂŶƵĂƌLJƚŚƌŽƵŐŚDĂLJ ĂŶĚKĐƚŽďĞƌƚŚƌŽƵŐŚĞĐĞŵďĞƌ͘ ĞĨŝŶŝƚŝŽŶŽĨ KŶͲƉĞĂŬĞŵĂŶĚ͗dŚĞŵĂdžŝŵƵŵŬtƵƐĞĚďLJƚŚĞĐƵƐƚŽŵĞƌŝŶĂŶLJĨŝĨƚĞĞŶͲŵŝŶƵƚĞƉĞƌŝŽĚ ďĞƚǁĞĞŶƚŚĞŚŽƵƌƐŽĨϭϬ͗ϬϬĂ͘ŵ͘ĂŶĚϭϬ͗ϬϬƉ͘ŵ͘ DŽŶĚĂLJƚŚƌŽƵŐŚ&ƌŝĚĂLJ͘ ĞĨŝŶŝƚŝŽŶŽĨ KĨĨͲƉĞĂŬĞŵĂŶĚ͗dŚĞŵĂdžŝŵƵŵŬtƵƐĞĚďLJƚŚĞĐƵƐƚŽŵĞƌŝŶĂŶLJĨŝĨƚĞĞŶͲŵŝŶƵƚĞƉĞƌŝŽĚ ĚƵƌŝŶŐƚŚĞŽĨĨͲƉĞĂŬƉĞƌŝŽĚ͘ KĨĨͲƉĞĂŬ ŚŽůŝĚĂLJƐ͗EĞǁzĞĂƌƐĂLJ͕DĞŵŽƌŝĂůĂLJ͕/ŶĚĞƉĞŶĚĞŶĐĞĂLJ͕>ĂďŽƌĂLJ͕ dŚĂŶŬƐŐŝǀŝŶŐĂLJ͕ĂŶĚŚƌŝƐƚŵĂƐĂLJ͘ WKtZK^d:h^dDEd͗ ŝůůƐĐŽŵƉƵƚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞĂƌĞƐƵďũĞĐƚƚŽĂĚũƵƐƚŵĞŶƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞWŽǁĞƌŽƐƚĚũƵƐƚŵĞŶƚ;WͿ͘ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( ŽŶƚŝŶƵĞĚ͙ Zd^,h>>'^ͲdKh ^,dϮK&ϯ WKtZ&dKZ:h^dDEd͗ dŚĞĐƵƐƚŽŵĞƌĂŐƌĞĞƐƚŽŵĂŝŶƚĂŝŶĂŶĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌŽĨϬ͘ϵϱŽƌŐƌĞĂƚĞƌĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚĂŶĚƚŽƉƌĞǀĞŶƚĂůĞĂĚŝŶŐ ƉŽǁĞƌĨĂĐƚŽƌ͘/ĨƚŚĞĐƵƐƚŽŵĞƌΖƐĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌŝƐůĞƐƐƚŚĂŶϬ͘ϵϱĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚ͕ƚŚĞďŝůůŝŶŐĚĞŵĂŶĚǁŝůůďĞ ĚĞƚĞƌŵŝŶĞĚďLJŵƵůƚŝƉůLJŝŶŐƚŚĞŵĞĂƐƵƌĞĚĚĞŵĂŶĚďLJϬ͘ϵϱĂŶĚĚŝǀŝĚŝŶŐƚŚĞƌĞƐƵůƚƐďLJƚŚĞĐƵƐƚŽŵĞƌΖƐĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌ͘dŚĞ ĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌŝƐĚĞĨŝŶĞĚƚŽďĞƚŚĞƋƵŽƚŝĞŶƚŽďƚĂŝŶĞĚďLJĚŝǀŝĚŝŶŐƚŚĞŬtŚƵƐĞĚĚƵƌŝŶŐƚŚĞŵŽŶƚŚďLJƚŚĞƐƋƵĂƌĞƌŽŽƚŽĨ ƚŚĞƐƵŵŽĨƚŚĞƐƋƵĂƌĞƐŽĨƚŚĞŬtŚƵƐĞĚĂŶĚƚŚĞůĂŐŐŝŶŐƌĞĂĐƚŝǀĞŬŝůŽǀŽůƚͲĂŵƉĞƌĞŚŽƵƌƐƐƵƉƉůŝĞĚĚƵƌŝŶŐƚŚĞƐĂŵĞƉĞƌŝŽĚ͘dŚĞ ĐƵƐƚŽŵĞƌΖƐĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌǁŝůůďĞĚĞƚĞƌŵŝŶĞĚďLJŵĞĂŶƐŽĨƉĞƌŵĂŶĞŶƚůLJŝŶƐƚĂůůĞĚŵĞƚĞƌƐ͘ WZ/DZzDdZ/^KhEd͗ ƵƐƚŽŵĞƌƐĂƉƉƌŽǀĞĚĨŽƌŵĞƚĞƌŝŶŐĂƚϭϯ͘ϴŬsǁŝůůƌĞĐĞŝǀĞĂĚŝƐĐŽƵŶƚŽĨϭ͘ϮϱйŽŶďĂƐĞƌĂƚĞĐŚĂƌŐĞƐĨŽƌŵĞĂƐƵƌĞĚĚĞŵĂŶĚĂŶĚ ĞŶĞƌŐLJ͘ dZE^&KZDZKtEZ^,/WZ/d͗ ƵƐƚŽŵĞƌƐŽǁŶŝŶŐƚƌĂŶƐĨŽƌŵĞƌƐǁŝůůƌĞĐĞŝǀĞĂĐƌĞĚŝƚŽŶĞĂĐŚŵŽŶƚŚΖƐŵĞĂƐƵƌĞĚĚĞŵĂŶĚ͘ ϮϬϮϲϮϬϮϳ ƌĞĚŝƚƉĞƌŬtΨϬ͘ϱϬΨϬ͘ϱϬ dZD/Ed/KEK&DE͗ DĞĂƐƵƌĞĚĚĞŵĂŶĚŝƐĚĞĨŝŶĞĚĂƐƚŚĞŵĂdžŝŵƵŵƌĂƚĞĂƚǁŚŝĐŚĞŶĞƌŐLJŝƐƵƐĞĚĨŽƌĂŶLJƉĞƌŝŽĚŽĨĨŝĨƚĞĞŶĐŽŶƐĞĐƵƚŝǀĞŵŝŶƵƚĞƐĚƵƌŝŶŐ ƚŚĞďŝůůŝŶŐƉĞƌŝŽĚ͘ />>/E'DE͗ dŚĞŽŶͲƉĞĂŬďŝůůŝŶŐĚĞŵĂŶĚƐŚĂůůďĞƚŚĞŐƌĞĂƚĞƌŽĨƚŚĞŵĞĂƐƵƌĞĚŽŶͲƉĞĂŬĚĞŵĂŶĚĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚĂĚũƵƐƚĞĚĨŽƌƉŽǁĞƌ ĨĂĐƚŽƌ͕ŽƌϱϬйŽĨƚŚĞƌĂƚĐŚĞƚĞĚŽŶͲƉĞĂŬĚĞŵĂŶĚ͘dŚĞƌĂƚĐŚĞƚĞĚŽŶͲƉĞĂŬĚĞŵĂŶĚŝƐƚŚĞŵĂdžŝŵƵŵŵĞĂƐƵƌĞĚŽŶͲƉĞĂŬĚĞŵĂŶĚ ĂĚũƵƐƚĞĚĨŽƌƉŽǁĞƌĨĂĐƚŽƌŽĨĨŽƵƌĐŽŶƐĞĐƵƚŝǀĞďŝůůŝŶŐĐLJĐůĞƐĚƵƌŝŶŐƚŚĞŵŽƐƚƌĞĐĞŶƚDĂLJƚŚƌŽƵŐŚKĐƚŽďĞƌďŝůůŝŶŐƉĞƌŝŽĚƐ ĚĞƉĞŶĚŝŶŐŽŶƚŚĞďŝůůŝŶŐĐLJĐůĞ͘ŝůůŝŶŐƉĞƌŝŽĚƐŵĂLJŶŽƚĐŽŝŶĐŝĚĞǁŝƚŚĐĂůĞŶĚĂƌŵŽŶƚŚƐ͘ dŚĞŽĨĨͲƉĞĂŬďŝůůŝŶŐĚĞŵĂŶĚƐŚĂůůďĞƚŚĞŵĞĂƐƵƌĞĚŽĨĨͲƉĞĂŬĚĞŵĂŶĚĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚĂĚũƵƐƚĞĚĨŽƌƉŽǁĞƌĨĂĐƚŽƌůĞƐƐƚŚĞŽŶͲ ƉĞĂŬďŝůůŝŶŐĚĞŵĂŶĚĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚ͘ dŚĞƚŽƚĂůďŝůůŝŶŐĚĞŵĂŶĚƐŚĂůůďĞŽŶůLJKŶͲƉĞĂŬĚĞŵĂŶĚǁŚĞŶKŶͲƉĞĂŬĚĞŵĂŶĚŝƐŚŝŐŚĞƌƚŚĂŶKĨĨͲƉĞĂŬĚĞŵĂŶĚ͘tŚĞŶKĨĨͲ ƉĞĂŬĚĞŵĂŶĚŝƐŚŝŐŚĞƌƚŚĂŶKŶͲƉĞĂŬĚĞŵĂŶĚ͕KŶͲƉĞĂŬĚĞŵĂŶĚǁŝůůďĞďŝůůĞĚŝŶĂĚĚŝƚŝŽŶƚŽƚŚĞKĨĨͲƉĞĂŬĚĞŵĂŶĚƚŚĂƚĞdžĐĞĞĚƐ KŶͲƉĞĂŬĚĞŵĂŶĚ͘ D/E/DhD/>>͗ dŚĞŵŝŶŝŵƵŵďŝůůƐŚĂůůŶŽƚďĞůĞƐƐƚŚĂŶƚŚĞďŝůůŝŶŐĚĞŵĂŶĚ͕ĂƐƉƌŽǀŝĚĞĚĂďŽǀĞ͕ǁŚĞƚŚĞƌŽƌŶŽƚĞŶĞƌŐLJŝƐƵƐĞĚƉůƵƐĂŶLJŵĞƚĞƌ ĐŚĂƌŐĞ͘ WzDEd͗ WĂLJŵĞŶƚƐĂƌĞĚƵĞŽŶŽƌďĞĨŽƌĞƚŚĞĚƵĞĚĂƚĞ͘ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( ŽŶƚŝŶƵĞĚ͙ Zd^,h>>'^ͲdKh ^,dϯK&ϯ KE/d/KE^K&>/sZz͗ ϭ͘^ĞƌǀŝĐĞƵŶĚĞƌƚŚŝƐƌĂƚĞǁŝůůďĞŵĂĚĞĂǀĂŝůĂďůĞĂƚƚŚĞŽƉƚŝŽŶŽĨƚŚĞůĂƌŐĞŐĞŶĞƌĂůƐĞƌǀŝĐĞĐƵƐƚŽŵĞƌ͕ƐƵďũĞĐƚƚŽƚŚĞ ĂǀĂŝůĂďŝůŝƚLJŽĨƚŚĞŶĞĐĞƐƐĂƌLJdKhŵĞƚĞƌŝŶŐĞƋƵŝƉŵĞŶƚ͘ Ϯ͘ƵƐƚŽŵĞƌƐĐŽŶǀĞƌƚŝŶŐƚŽƚŚĞ>'^ͲdKhƌĂƚĞĨƌŽŵƚŚĞ>'^ƌĂƚĞƐŚĂůůŵĂŬĞĂŽŶĞͲƚŝŵĞƉĂLJŵĞŶƚƚŽZWhĨŽƌĂŶLJ ĐŽŶǀĞƌƐŝŽŶĐŽƐƚĂďŽǀĞƚŚĞŶŽƌŵĂůĐŽƐƚƚŽŝŶƐƚĂůů>'^ͲdKhŵĞƚĞƌŝŶŐ͘ ϯ͘ĐƵƐƚŽŵĞƌŵĂLJƐǁŝƚĐŚďĂĐŬƚŽƚŚĞ>'^ƌĂƚĞƉƌŽǀŝĚŝŶŐƚŚĞĐƵƐƚŽŵĞƌŐŝǀĞƐZWhĂƚůĞĂƐƚϲϬĚĂLJƐ͛ŶŽƚŝĐĞĂŶĚĂŐƌĞĞƐƚŽ ƉĂLJĂŶLJŵĞƚĞƌŝŶŐĐŽŶǀĞƌƐŝŽŶĐŽƐƚƐ͘ ϰ͘^ĞƌǀŝĐĞĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞŝƐƐƵďũĞĐƚƚŽĂƉƉůŝĐĂďůĞƉƌŽǀŝƐŝŽŶƐŽĨZWhΖƐƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐ ĂŶĚZĞŐƵůĂƚŝŽŶƐ͘ ϱ͘hŶůĞƐƐĂƵƚŚŽƌŝnjĞĚďLJĂƐĞƉĂƌĂƚĞǁƌŝƚƚĞŶĂŐƌĞĞŵĞŶƚ͕ƐƚĂŶĚďLJĞůĞĐƚƌŝĐŐĞŶĞƌĂƚŝŶŐĞƋƵŝƉŵĞŶƚŝŶƐƚĂůůĞĚďLJƚŚĞĐƵƐƚŽŵĞƌ ƐŚĂůůŶŽƚďĞŝŶƚĞƌĐŽŶŶĞĐƚĞĚŽƌŽƉĞƌĂƚĞĚŝŶƉĂƌĂůůĞůǁŝƚŚƚŚĞZWhƐLJƐƚĞŵ͘ƵƐƚŽŵĞƌƐŚĂůůŽǁŶ͕ŝŶƐƚĂůů͕ŽƉĞƌĂƚĞ͕ĂŶĚ ŵĂŝŶƚĂŝŶĞůĞĐƚƌŝĐĂůŝŶƚĞƌůŽĐŬŝŶŐĞƋƵŝƉŵĞŶƚ͕ǁŚŝĐŚǁŝůůƉƌĞǀĞŶƚƉĂƌĂůůĞůŽƉĞƌĂƚŝŽŶ͕ĂŶĚƐƵĐŚĞƋƵŝƉŵĞŶƚƐŚĂůůďĞ ĂƉƉƌŽǀĞĚďLJZWhƉƌŝŽƌƚŽŝŶƐƚĂůůĂƚŝŽŶ͘ ϲ͘ZWhƐŚĂůůŶŽƚďĞůŝĂďůĞĨŽƌĂŶLJĚĂŵĂŐĞŽƌůŽƐƐƐƵƐƚĂŝŶĞĚďLJĐƵƐƚŽŵĞƌƐƌĞƐƵůƚŝŶŐĨƌŽŵŝŶƚĞƌƌƵƉƚŝŽŶƐ͕ĚĞĨŝĐŝĞŶĐŝĞƐ͕Žƌ ŝŵƉĞƌĨĞĐƚŝŽŶƐŽĨƐĞƌǀŝĐĞƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞ͘ ϳ͘ŶĞƌŐLJĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐŚĂůůŶŽƚďĞƌĞƐŽůĚ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( Zd^,h>>/^ ^,dϭK&Ϯ >Z'/Eh^dZ/>^Zs/ s/>/>/dz͗ ƚĂůůůŽĐĂƚŝŽŶƐĨŽƌůŽĂĚƐǁŝƚŚĚĞŵĂŶĚŝŶĞdžĐĞƐƐŽĨϭϬ͕ϬϬϬŬtĨŽƌƚŚƌĞĞŽƌŵŽƌĞďŝůůŝŶŐƉĞƌŝŽĚƐŝŶĂƌŽůůŝŶŐϭϮŵŽŶƚŚƉĞƌŝŽĚ͕ĂŶĚ ǁŚĞƌĞĨĂĐŝůŝƚŝĞƐŽĨĂĚĞƋƵĂƚĞĐĂƉĂĐŝƚLJĂŶĚǀŽůƚĂŐĞĂƌĞĂĚũĂĐĞŶƚƚŽƚŚĞƉƌĞŵŝƐĞƐƚŽďĞƐĞƌǀĞĚ͘&ŽƌůŽĂĚƐǁŚĞƌĞƚŚĞƐĞƌǀŝĐĞĚĞƐŝƌĞĚ ďLJƚŚĞĐƵƐƚŽŵĞƌŝƐŶŽƚĂĚũĂĐĞŶƚƚŽƚŚĞƉƌĞŵŝƐĞƐƚŽďĞƐĞƌǀĞĚ͕ĐŽŶƚƌĂĐƚĂƌƌĂŶŐĞŵĞŶƚƐŵĂLJďĞƌĞƋƵŝƌĞĚƉƌŝŽƌƚŽƐĞƌǀŝĐĞďĞŝŶŐ ĨƵƌŶŝƐŚĞĚ͘ WW>/d/KE͗ dŽŝŶĚƵƐƚƌŝĂůĐƵƐƚŽŵĞƌƐǁŝƚŚĂůůƐĞƌǀŝĐĞƚĂŬĞŶĂƚŽŶĞƉŽŝŶƚĂŶĚŵĞĂƐƵƌĞĚƚŚƌŽƵŐŚŽŶĞŵĞƚĞƌŽƌŵĞƚĞƌƚŽƚĂůŝnjĞƌ͘EŽƚĂƉƉůŝĐĂďůĞ ƚŽƐƚĂŶĚͲďLJƐĞƌǀŝĐĞ͘ ,ZdZK&^Zs/͗ dŚƌĞĞƉŚĂƐĞ͕ϲϬ,ĞƌƚnjĂůƚĞƌŶĂƚŝŶŐĐƵƌƌĞŶƚĂƚϭϯ͘ϴŬs'Zzͬϳ͘ϵϳŬs͘ Zd͗ ϮϬϮϲϮϬϮϳ ĞŵĂŶĚŚĂƌŐĞͬŬtΨϮϮ͘ϱϯΨϮϯ͘ϲϭ ŶĞƌŐLJŚĂƌŐĞͬŬtŚϲ͘ϭϬϬΪϲ͘ϯϵϯΪ WKtZK^d:h^dDEd͗ ŝůůƐĐŽŵƉƵƚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞĂƌĞƐƵďũĞĐƚƚŽĂĚũƵƐƚŵĞŶƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞWŽǁĞƌŽƐƚĚũƵƐƚŵĞŶƚ;WͿ͘ WKtZ&dKZ:h^dDEd͗ dŚĞĐƵƐƚŽŵĞƌĂŐƌĞĞƐƚŽŵĂŝŶƚĂŝŶĂŶĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌŽĨϬ͘ϵϱŽƌŐƌĞĂƚĞƌĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚĂŶĚƚŽƉƌĞǀĞŶƚĂůĞĂĚŝŶŐ ƉŽǁĞƌĨĂĐƚŽƌ͘/ĨƚŚĞĐƵƐƚŽŵĞƌΖƐĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌŝƐůĞƐƐƚŚĂŶϬ͘ϵϱĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚ͕ƚŚĞďŝůůŝŶŐĚĞŵĂŶĚǁŝůůďĞ ĚĞƚĞƌŵŝŶĞĚďLJŵƵůƚŝƉůLJŝŶŐƚŚĞŵĞĂƐƵƌĞĚĚĞŵĂŶĚďLJϬ͘ϵϱĂŶĚĚŝǀŝĚŝŶŐƚŚĞƌĞƐƵůƚƐďLJƚŚĞĐƵƐƚŽŵĞƌΖƐĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌ͘dŚĞ ĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌŝƐĚĞĨŝŶĞĚƚŽďĞƚŚĞƋƵŽƚŝĞŶƚŽďƚĂŝŶĞĚďLJĚŝǀŝĚŝŶŐƚŚĞŬtŚƵƐĞĚĚƵƌŝŶŐƚŚĞŵŽŶƚŚďLJƚŚĞƐƋƵĂƌĞƌŽŽƚŽĨ ƚŚĞƐƵŵŽĨƚŚĞƐƋƵĂƌĞƐŽĨƚŚĞŬtŚƵƐĞĚĂŶĚƚŚĞůĂŐŐŝŶŐƌĞĂĐƚŝǀĞŬŝůŽǀŽůƚͲĂŵƉĞƌĞŚŽƵƌƐƐƵƉƉůŝĞĚĚƵƌŝŶŐƚŚĞƐĂŵĞƉĞƌŝŽĚ͘dŚĞ ĐƵƐƚŽŵĞƌΖƐĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌǁŝůůďĞĚĞƚĞƌŵŝŶĞĚďLJŵĞĂŶƐŽĨƉĞƌŵĂŶĞŶƚůLJŝŶƐƚĂůůĞĚŵĞƚĞƌƐ͘ dZD/Ed/KEK&DE͗ DĞĂƐƵƌĞĚĚĞŵĂŶĚŝƐĚĞĨŝŶĞĚĂƐƚŚĞŵĂdžŝŵƵŵƌĂƚĞĂƚǁŚŝĐŚĞŶĞƌŐLJŝƐƵƐĞĚĨŽƌĂŶLJƉĞƌŝŽĚŽĨĨŝĨƚĞĞŶĐŽŶƐĞĐƵƚŝǀĞŵŝŶƵƚĞƐĚƵƌŝŶŐ ƚŚĞďŝůůŝŶŐƉĞƌŝŽĚ͘dŚĞďŝůůŝŶŐĚĞŵĂŶĚƐŚĂůůďĞƚŚĞŐƌĞĂƚĞƌŽĨƚŚĞŵĞĂƐƵƌĞĚĚĞŵĂŶĚĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚĂĚũƵƐƚĞĚĨŽƌƉŽǁĞƌ ĨĂĐƚŽƌ͕ŽƌϱϬйŽĨƚŚĞƌĂƚĐŚĞƚĞĚĚĞŵĂŶĚ͘dŚĞƌĂƚĐŚĞƚĞĚĚĞŵĂŶĚŝƐƚŚĞŵĂdžŝŵƵŵŵĞĂƐƵƌĞĚĚĞŵĂŶĚĂĚũƵƐƚĞĚĨŽƌƉŽǁĞƌĨĂĐƚŽƌ ŽĨĨŽƵƌĐŽŶƐĞĐƵƚŝǀĞďŝůůŝŶŐĐLJĐůĞƐĚƵƌŝŶŐƚŚĞŵŽƐƚƌĞĐĞŶƚDĂLJƚŚƌŽƵŐŚKĐƚŽďĞƌďŝůůŝŶŐƉĞƌŝŽĚƐĚĞƉĞŶĚŝŶŐŽŶƚŚĞďŝůůŝŶŐĐLJĐůĞ͘ ŝůůŝŶŐƉĞƌŝŽĚƐŵĂLJŶŽƚĐŽŝŶĐŝĚĞǁŝƚŚĐĂůĞŶĚĂƌŵŽŶƚŚƐ͘ D/E/DhD/>>͗ dŚĞŵŝŶŝŵƵŵďŝůůƐŚĂůůŶŽƚďĞůĞƐƐƚŚĂŶƚŚĞďŝůůŝŶŐĚĞŵĂŶĚ͕ĂƐƉƌŽǀŝĚĞĚĂďŽǀĞ͕ǁŚĞƚŚĞƌŽƌŶŽƚĞŶĞƌŐLJŝƐƵƐĞĚ͘ WzDEd͗ WĂLJŵĞŶƚƐĂƌĞĚƵĞŽŶŽƌďĞĨŽƌĞƚŚĞĚƵĞĚĂƚĞ͘ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( ŽŶƚŝŶƵĞĚ͙ Zd^,h>>/^ ^,dϮK&Ϯ KE/d/KE^K&>/sZz͗ ϭ͘^ĞƌǀŝĐĞĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞŝƐƐƵďũĞĐƚƚŽĂƉƉůŝĐĂďůĞƉƌŽǀŝƐŝŽŶƐŽĨZWhΖƐƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐ ĂŶĚZĞŐƵůĂƚŝŽŶƐ͘ Ϯ͘hŶůĞƐƐĂƵƚŚŽƌŝnjĞĚďLJĂƐĞƉĂƌĂƚĞǁƌŝƚƚĞŶĂŐƌĞĞŵĞŶƚ͕ƐƚĂŶĚͲďLJĞůĞĐƚƌŝĐŐĞŶĞƌĂƚŝŶŐĞƋƵŝƉŵĞŶƚŝŶƐƚĂůůĞĚďLJƚŚĞĐƵƐƚŽŵĞƌ ƐŚĂůůŶŽƚďĞŝŶƚĞƌĐŽŶŶĞĐƚĞĚŽƌŽƉĞƌĂƚĞĚŝŶƉĂƌĂůůĞůǁŝƚŚƚŚĞZWhƐLJƐƚĞŵ͗ƵƐƚŽŵĞƌƐŚĂůůŽǁŶ͕ŝŶƐƚĂůů͕ŽƉĞƌĂƚĞ͕ĂŶĚ ŵĂŝŶƚĂŝŶĞůĞĐƚƌŝĐĂůŝŶƚĞƌůŽĐŬŝŶŐĞƋƵŝƉŵĞŶƚǁŚŝĐŚǁŝůůƉƌĞǀĞŶƚƉĂƌĂůůĞůŽƉĞƌĂƚŝŽŶ͕ĂŶĚƐƵĐŚĞƋƵŝƉŵĞŶƚƐŚĂůůďĞ ĂƉƉƌŽǀĞĚďLJZWhƉƌŝŽƌƚŽŝŶƐƚĂůůĂƚŝŽŶ͘ ϯ͘ZWhƐŚĂůůŶŽƚďĞůŝĂďůĞĨŽƌĂŶLJĚĂŵĂŐĞŽƌůŽƐƐƐƵƐƚĂŝŶĞĚďLJĐƵƐƚŽŵĞƌƐƌĞƐƵůƚŝŶŐĨƌŽŵŝŶƚĞƌƌƵƉƚŝŽŶƐ͕ĚĞĨŝĐŝĞŶĐŝĞƐŽƌ ŝŵƉĞƌĨĞĐƚŝŽŶƐŽĨƐĞƌǀŝĐĞƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞ͘ ϰ͘ŶĞƌŐLJĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐŚĂůůŶŽƚďĞƌĞƐŽůĚ͘ ϱ͘ƵƐƚŽŵĞƌĂŐƌĞĞƐƚŽŵĂŶĂŐĞŝƚƐƵƚŝůŝnjĂƚŝŽŶĞƋƵŝƉŵĞŶƚƐŽĂƐŶŽƚƚŽƵŶďĂůĂŶĐĞƚŚĞĐƵƌƌĞŶƚƉĞƌƉŚĂƐĞďLJŵŽƌĞƚŚĂŶϭϬй͘ ϲ͘ZWhŵĂLJƌĞƋƵŝƌĞĂƐĞƉĂƌĂƚĞĞůĞĐƚƌŝĐƐĞƌǀŝĐĞĂŐƌĞĞŵĞŶƚĨŽƌƐĞƌǀŝĐĞƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( Zd^,h>/EdZ ^,dϭK&ϰ /EdZZhWd/>^Zs/ͲůŽƐĞĚ s/>/>/dz͗ ƚĂůůůŽĐĂƚŝŽŶƐĨŽƌĐƵƐƚŽŵĞƌƐǁŚŽƋƵĂůŝĨLJĂŶĚǁŚĞƌĞĨĂĐŝůŝƚŝĞƐŽĨĂĚĞƋƵĂƚĞĐĂƉĂĐŝƚLJĂŶĚƐƵŝƚĂďůĞǀŽůƚĂŐĞĂƌĞĂĚũĂĐĞŶƚƚŽƚŚĞ ƉƌĞŵŝƐĞƐƚŽďĞƐĞƌǀĞĚ͘ĚĚŝƚŝŽŶĂůĐŽŶƚƌĂĐƚƵĂůĂƌƌĂŶŐĞŵĞŶƚƐŵĂLJďĞƌĞƋƵŝƌĞĚƉƌŝŽƌƚŽƐĞƌǀŝĐĞďĞŝŶŐĨƵƌŶŝƐŚĞĚ͘ZWhƌĞƐĞƌǀĞƐƚŚĞ ƌŝŐŚƚƚŽůŝŵŝƚƚŚĞĂŵŽƵŶƚŽĨŝŶƚĞƌƌƵƉƚŝďůĞůŽĂĚƚĂŬĞŶďLJĂĐƵƐƚŽŵĞƌĂŶĚƚŚĞƚŽƚĂůĂŵŽƵŶƚŽĨŝŶƚĞƌƌƵƉƚŝďůĞůŽĂĚŽŶƚŚĞZWh ƐLJƐƚĞŵ͘ WW>/d/KE͗ dŽĐŽŵŵĞƌĐŝĂů͕ŝŶĚƵƐƚƌŝĂů͕ĂŶĚŐŽǀĞƌŶŵĞŶƚĂůĐƵƐƚŽŵĞƌƐĐŽŶƚƌĂĐƚŝŶŐĨŽƌĞůĞĐƚƌŝĐĂůƐĞƌǀŝĐĞĨŽƌĂƉĞƌŝŽĚŽĨŽŶĞ;ϭͿLJĞĂƌŽƌŵŽƌĞ ĂŶĚŚĂǀŝŶŐĂŶŝŶƚĞƌƌƵƉƚŝďůĞůŽĂĚǁŝƚŚĂŵĞĂƐƵƌĞĚĚĞŵĂŶĚŽĨϭϬϬŬtŽƌŵŽƌĞ͘ dŚĞ/EdZŝŶƚĞƌƌƵƉƚŝďůĞƌĂƚĞƐĐŚĞĚƵůĞŝƐƵƐĞĚŝŶĐŽŶũƵŶĐƚŝŽŶǁŝƚŚƚŚĞD'^͕>'^͕ĂŶĚ>/^ĨŝƌŵƉŽǁĞƌƌĂƚĞƐĐŚĞĚƵůĞƐ͘dŽƋƵĂůŝĨLJĨŽƌ ƚŚĞ/EdZƌĂƚĞƐĐŚĞĚƵůĞ͕ĐƵƐƚŽŵĞƌƐŵƵƐƚŚĂǀĞĂŵŝŶŝŵƵŵŽĨϭϬϬŬtŽĨŝŶƚĞƌƌƵƉƚŝďůĞĚĞŵĂŶĚ͘ZWhƌĞƐĞƌǀĞƐƚŚĞƌŝŐŚƚƚŽůŝŵŝƚƚŚĞ ĂŵŽƵŶƚŽĨŝŶƚĞƌƌƵƉƚŝďůĞůŽĂĚ͕ǁŚŝĐŚŵĂLJďĞŶŽŵŝŶĂƚĞĚ͘ ƵƐƚŽŵĞƌƐǁŚŽƋƵĂůŝĨLJĨŽƌƚŚĞ/EdZƌĂƚĞƐŚĂůůĞŝƚŚĞƌŶŽŵŝŶĂƚĞĂŶŝŶƚĞƌƌƵƉƚŝďůĞĚĞŵĂŶĚĂŵŽƵŶƚŽƌĂĨŝƌŵĚĞŵĂŶĚĂŵŽƵŶƚ͘ ƵƐƚŽŵĞƌƐŶŽŵŝŶĂƚŝŶŐĂŶŝŶƚĞƌƌƵƉƚŝďůĞĚĞŵĂŶĚĂŵŽƵŶƚƐŚĂůůďĞƌĞƋƵŝƌĞĚƚŽŝŶƚĞƌƌƵƉƚĂƚůĞĂƐƚƚŚĞĂŵŽƵŶƚŶŽŵŝŶĂƚĞĚ͕ŽƌƚŚĞŝƌ ƚŽƚĂůůŽĂĚŝĨƚŚĞŝƌƚŽƚĂůůŽĂĚŝƐůĞƐƐƚŚĂŶƚŚĞĂŵŽƵŶƚŶŽŵŝŶĂƚĞĚ͘ƵƐƚŽŵĞƌƐŶŽŵŝŶĂƚŝŶŐĂĨŝƌŵĚĞŵĂŶĚĂŵŽƵŶƚƐŚĂůůďĞƌĞƋƵŝƌĞĚ ƚŽŝŶƚĞƌƌƵƉƚĂŶĂŵŽƵŶƚƐƵĨĨŝĐŝĞŶƚƚŽďƌŝŶŐƚŚĞŝƌůŽĂĚƚŽŽƌďĞůŽǁƚŚĞĨŝƌŵĚĞŵĂŶĚŶŽŵŝŶĂƚĞĚ͘/ŶŶŽĐĂƐĞƐŚĂůůƚŚĞ/EdZƌĂƚĞďĞ ŵĂĚĞĂǀĂŝůĂďůĞƚŽĐƵƐƚŽŵĞƌƐǁŝƚŚůĞƐƐƚŚĂŶϭϬϬŬtŽĨŝŶƚĞƌƌƵƉƚŝďůĞůŽĂĚ͘ ůůŝŶƚĞƌƌƵƉƚŝďůĞůŽĂĚƐƌĞĐŽŐŶŝnjĞĚƵŶĚĞƌƚŚĞ/EdZƌĂƚĞƐĐŚĞĚƵůĞƐŚĂůůďĞĞůĞĐƚƌŝĐĂůůŽĂĚƐƚŚĂƚĂƌĞĐŽŝŶĐŝĚĞŶƚǁŝƚŚZWhΖƐƐLJƐƚĞŵ ƉĞĂŬ͘ƵƐƚŽŵĞƌƐΖĞůĞĐƚƌŝĐĂůůŽĂĚƐŽĐĐƵƌƌŝŶŐŽƵƚƐŝĚĞƚŚŝƐƉĞĂŬƉĞƌŝŽĚƐŚĂůůŶŽƚƋƵĂůŝĨLJĨŽƌƚŚĞ/EdZƌĂƚĞƐĐŚĞĚƵůĞ͘ŶLJŐĞŶĞƌĂƚŝŽŶ ĞƋƵŝƉŵĞŶƚƵƐĞĚďLJƚŚĞĐƵƐƚŽŵĞƌƚŽƋƵĂůŝĨLJĨŽƌƚŚĞ/EdZƌĂƚĞƐŚĂůůďĞůŽĐĂƚĞĚĂƚƚŚĞƐŝƚĞŽĨƚŚĞŝŶƚĞƌƌƵƉƚŝďůĞůŽĂĚƐƵĐŚƚŚĂƚZWh ĚŽĞƐŶŽƚŚĂǀĞƚŽƵƐĞŝƚƐĞůĞĐƚƌŝĐĂůĨĂĐŝůŝƚŝĞƐƚŽƚƌĂŶƐŵŝƚƉŽǁĞƌĨŽƌƚŚĞĐƵƐƚŽŵĞƌ͘ ,ZdZK&^Zs/ dŚƌĞĞƉŚĂƐĞ͕ϲϬ,Ğƌƚnj͕ĂůƚĞƌŶĂƚŝŶŐĐƵƌƌĞŶƚĂƚŽŶĞŽĨƚŚĞƐƚĂŶĚĂƌĚƐĞĐŽŶĚĂƌLJƐĞƌǀŝĐĞǀŽůƚĂŐĞƐĂƐĚĞƐĐƌŝďĞĚŝŶZWhΖƐƉƵďůŝƐŚĞĚ ůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐĂŶĚZĞŐƵůĂƚŝŽŶƐ͘^ĞƌǀŝĐĞŝƐƐƵďũĞĐƚƚŽŝŶƚĞƌƌƵƉƚŝŽŶĂƚƚŚĞƐŽůĞĚŝƐĐƌĞƚŝŽŶŽĨZWhĂƚĂŶLJƚŝŵĞĚƵƌŝŶŐƚŚĞ LJĞĂƌ͘dŚĞƌĞǁŝůůďĞŶŽŵŽƌĞƚŚĂŶϭϳϱŚŽƵƌƐŽƌϯϱŝŶƚĞƌƌƵƉƚŝŽŶƐƉĞƌLJĞĂƌ͘ Zd͗ D'^͕>'^͕ĂŶĚ>/^ĐƵƐƚŽŵĞƌƐĂƌĞďŝůůĞĚĨŽƌŝŶƚĞƌƌƵƉƚŝďůĞƉŽǁĞƌĂƚƚŚĞĨŽůůŽǁŝŶŐƌĂƚĞƐ͗ ϮϬϮϲϮϬϮϳ ĞŵĂŶĚŚĂƌŐĞƉĞƌŬt͗ D'^Ψϭϱ͘ϮϵΨϭϲ͘ϰϮ >'^Ψϭϰ͘ϭϰΨϭϱ͘ϰϭ >/^Ψϭϯ͘ϵϯΨϭϱ͘ϭϳ dŚĞŶĞƌŐLJŚĂƌŐĞƉĞƌŬtŚƐŚĂůůďĞĞƋƵĂůƚŽƚŚĞĂƉƉƌŽƉƌŝĂƚĞĐƵƐƚŽŵĞƌĐůĂƐƐĞŶĞƌŐLJƌĂƚĞĚĞĨŝŶĞĚŝŶƚŚĞƌĂƚĞƚĂƌŝĨĨƐĨŽƌƚŚĞD'^͕ >'^͕ĂŶĚ>/^ĐƵƐƚŽŵĞƌĐůĂƐƐĞƐ͘ WKtZK^d:h^dDEd͗ ŝůůƐĐŽŵƉƵƚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞĂƌĞƐƵďũĞĐƚƚŽĂĚũƵƐƚŵĞŶƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞWŽǁĞƌŽƐƚĚũƵƐƚŵĞŶƚ;WͿ͘ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( ŽŶƚŝŶƵĞĚ͙ Zd^,h>/EdZ ^,dϮK&ϰ WKtZ&dKZ:h^dDEd͗ dŚĞĐƵƐƚŽŵĞƌĂŐƌĞĞƐƚŽŵĂŝŶƚĂŝŶĂŶĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌŽĨϬ͘ϵϱŽƌŐƌĞĂƚĞƌĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚĂŶĚƚŽƉƌĞǀĞŶƚĂůĞĂĚŝŶŐ ƉŽǁĞƌĨĂĐƚŽƌ͘/ĨƚŚĞĐƵƐƚŽŵĞƌΖƐĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌŝƐůĞƐƐƚŚĂŶϬ͘ϵϱĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚ͕ƚŚĞďŝůůŝŶŐĚĞŵĂŶĚǁŝůůďĞ ĚĞƚĞƌŵŝŶĞĚďLJŵƵůƚŝƉůLJŝŶŐƚŚĞŵĞĂƐƵƌĞĚĚĞŵĂŶĚďLJϬ͘ϵϱĂŶĚĚŝǀŝĚŝŶŐƚŚĞƌĞƐƵůƚƐďLJƚŚĞĐƵƐƚŽŵĞƌΖƐĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌ͘dŚĞ ĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌŝƐĚĞĨŝŶĞĚƚŽďĞƚŚĞƋƵŽƚŝĞŶƚŽďƚĂŝŶĞĚďLJĚŝǀŝĚŝŶŐƚŚĞŬtŚƵƐĞĚĚƵƌŝŶŐƚŚĞŵŽŶƚŚďLJƚŚĞƐƋƵĂƌĞƌŽŽƚŽĨ ƚŚĞƐƵŵŽĨƚŚĞƐƋƵĂƌĞƐŽĨƚŚĞŬtŚƵƐĞĚĂŶĚƚŚĞůĂŐŐŝŶŐƌĞĂĐƚŝǀĞŬŝůŽǀŽůƚͲĂŵƉĞƌĞŚŽƵƌƐƐƵƉƉůŝĞĚĚƵƌŝŶŐƚŚĞƐĂŵĞƉĞƌŝŽĚ͘dŚĞ ĐƵƐƚŽŵĞƌΖƐĂǀĞƌĂŐĞƉŽǁĞƌĨĂĐƚŽƌǁŝůůďĞĚĞƚĞƌŵŝŶĞĚďLJŵĞĂŶƐŽĨƉĞƌŵĂŶĞŶƚůLJŝŶƐƚĂůůĞĚŵĞƚĞƌƐ͘ WZ/DZzDdZ/^KhEd͗ ƵƐƚŽŵĞƌƐĂƉƉƌŽǀĞĚĨŽƌŵĞƚĞƌŝŶŐĂƚϭϯ͘ϴŬsǁŝůůƌĞĐĞŝǀĞĂĚŝƐĐŽƵŶƚŽĨϭ͘ϮϱйŽŶďĂƐĞƌĂƚĞĐŚĂƌŐĞƐĨŽƌŵĞĂƐƵƌĞĚĚĞŵĂŶĚĂŶĚ ĞŶĞƌŐLJ͘ dZE^&KZDZKtEZ^,/WZ/d͗ ƵƐƚŽŵĞƌƐŽǁŶŝŶŐƚƌĂŶƐĨŽƌŵĞƌƐǁŝůůƌĞĐĞŝǀĞĂĐƌĞĚŝƚŽŶĞĂĐŚŵŽŶƚŚΖƐŵĞĂƐƵƌĞĚĚĞŵĂŶĚ͘ ϮϬϮϲϮϬϮϳ ƌĞĚŝƚƉĞƌͬŬtΨϬ͘ϱϬΨϬ͘ϱϬ ^hZ,Z'͗ ƵƐƚŽŵĞƌƐǁŚŽƐĞƐĞƌǀŝĐĞŝƐƚĂŬĞŶŽƵƚƐŝĚĞƚŚĞZŽĐŚĞƐƚĞƌŝƚLJůŝŵŝƚƐĂƌĞƐƵďũĞĐƚƚŽĂϭϬйƐƵƌĐŚĂƌŐĞŽŶƚŚĞŝƌďŝůůƐ;ĞdžĐůƵĚŝŶŐ ĐŚĂƌŐĞƐĐŽŵƉƵƚĞĚƵŶĚĞƌƚŚĞWŽǁĞƌŽƐƚĚũƵƐƚŵĞŶƚͿ͘ WE>dz͗ hŶĂƵƚŚŽƌŝnjĞĚƵƐĞŽĨĞůĞĐƚƌŝĐŝƚLJĚƵƌŝŶŐĂƉĞĂŬƉĞƌŝŽĚŽĨƐĞƌǀŝĐĞŝŶƚĞƌƌƵƉƚŝŽŶŽƌĚĞƌĞĚďLJZWhǁŝůůƌĞƋƵŝƌĞƚŚĞĐƵƐƚŽŵĞƌƚŽƉĂLJĂ ƉĞŶĂůƚLJ;ŝŶĂĚĚŝƚŝŽŶƚŽƐƚĂŶĚĂƌĚĐŚĂƌŐĞƐͿǁŚŝĐŚŝƐƌĞĨůĞĐƚŝǀĞŽĨƚŚĞƵŶŝŶƚĞƌƌƵƉƚĞĚůŽĂĚΖƐĐŽƐƚŝŵƉĂĐƚŽŶZWhΖƐǁŚŽůĞƐĂůĞƉŽǁĞƌ ĐŽƐƚĨƌŽŵ^DDWŽǀĞƌƚŚĞĞŶƐƵŝŶŐϭϮŵŽŶƚŚƐ͗ ͘EŽŝŵƉĂĐƚͲEŽƉĞŶĂůƚLJ ͘KĐĐƵƌƐŽŶŵŽŶƚŚůLJƉĞĂŬͲhŶŝŶƚĞƌƌƵƉƚĞĚŬtĐŽŶƚƌŝďƵƚŝŽŶƚŽZWhΖƐƉĞĂŬŝƐďŝůůĞĚĂƚ^DDWƌĂƚĞ͘ ͘KĐĐƵƌƐŽŶĂŶŶƵĂůƉĞĂŬ;ĂƐĚĞƚĞƌŵŝŶĞĚďLJĂŶĂůLJƐŝƐĨƌŽŵKĐƚŽďĞƌϭĂŶĂůLJƐŝƐŽĨƐƵŵŵĞƌĚĞŵĂŶĚƐͿͲ hŶŝŶƚĞƌƌƵƉƚĞĚŬtĐŽŶƚƌŝďƵƚŝŽŶƚŽZWhΖƐĂŶŶƵĂůƉĞĂŬŝƐĂĚĚŝƚŝŽŶĂůůLJƉĞŶĂůŝnjĞĚĂƚƚǁŽƚŝŵĞƐ^DDWƌĂƚĞĂŶĚ ĂĚĚĞĚƚŽƉĂƌƚŝĐŝƉĂŶƚƐKĐƚŽďĞƌďŝůůŝŶŐ͘ džĐĞƉƚŝŽŶĨŽƌĨŝƌƐƚͲƚŝŵĞƉĂƌƚŝĐŝƉĂŶƚƐŝŶĂŶZWhƉĞĂŬƌĞĚƵĐƚŝŽŶƌĂƚĞǁŚŽŚĂǀĞŝŶƚĞƌƌƵƉƚŝďůĞŶŽŵŝŶĂƚŝŽŶƐŽĨůĞƐƐƚŚĂŶϱϬϬ<t͗dŚĞ ƉĞŶĂůƚLJĨŽƌĨĂŝůƵƌĞƚŽŝŶƚĞƌƌƵƉƚǁŝůůďĞǁĂŝǀĞĚĚƵƌŝŶŐƚŚĞŝŶŝƚŝĂůϮϰŵŽŶƚŚƐ͘ dZD/Ed/KEK&DE͗ DĞĂƐƵƌĞĚĚĞŵĂŶĚŝƐĚĞĨŝŶĞĚĂƐƚŚĞŵĂdžŝŵƵŵƌĂƚĞĂƚǁŚŝĐŚĞŶĞƌŐLJŝƐƵƐĞĚĨŽƌĂŶLJƉĞƌŝŽĚŽĨĨŝĨƚĞĞŶ;ϭϱͿĐŽŶƐĞĐƵƚŝǀĞŵŝŶƵƚĞƐ ĚƵƌŝŶŐƚŚĞďŝůůŝŶŐƉĞƌŝŽĚ͘ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( ŽŶƚŝŶƵĞĚ͙ Zd^,h>/EdZ ^,dϯK&ϰ />>/E'DE͗ ƵƐƚŽŵĞƌƐŶŽŵŝŶĂƚŝŶŐĂŶĂŵŽƵŶƚŽĨŝŶƚĞƌƌƵƉƚŝďůĞĚĞŵĂŶĚĂƌĞƌĞƋƵŝƌĞĚƚŽŝŶƚĞƌƌƵƉƚĂƚůĞĂƐƚƚŚĞŝƌŶŽŵŝŶĂƚĞĚŝŶƚĞƌƌƵƉƚŝďůĞ ĚĞŵĂŶĚ͘ƵƐƚŽŵĞƌƐŵĂLJŝŶƚĞƌƌƵƉƚĚĞŵĂŶĚŐƌĞĂƚĞƌƚŚĂŶƚŚĞŝƌŶŽŵŝŶĂƚĞĚŝŶƚĞƌƌƵƉƚŝďůĞĚĞŵĂŶĚ͘dŚĞďŝůůĞĚŝŶƚĞƌƌƵƉƚŝďůĞ ĚĞŵĂŶĚĨŽƌƚŚĞŵŽŶƚŚƐŚĂůůďĞƚŚĞŚŽƵƌůLJŝŶƚĞŐƌĂƚĞĚĚĞŵĂŶĚŝŶƚĞƌƌƵƉƚĞĚĚƵƌŝŶŐƚŚĞƉĞĂŬƉĞƌŝŽĚŽĨĂƐĞƌǀŝĐĞŝŶƚĞƌƌƵƉƚŝŽŶ ƌĞƋƵĞƐƚĞĚďLJZWh͘dŚŝƐŝŶƚĞƌƌƵƉƚŝďůĞĚĞŵĂŶĚǁŝůůďĞďŝůůĞĚĂƚƚŚĞĂƉƉƌŽƉƌŝĂƚĞŝŶƚĞƌƌƵƉƚŝďůĞƌĂƚĞĨŽƌƚŚĂƚŵŽŶƚŚ͘tŚĞƌĞŶŽZWh ƌĞƋƵĞƐƚĞĚŝŶƚĞƌƌƵƉƚŝŽŶŽĐĐƵƌƐĚƵƌŝŶŐƚŚĞŵŽŶƚŚ͕ĂůůĚĞŵĂŶĚĂďŽǀĞƚŚĞŶŽŵŝŶĂƚĞĚŝŶƚĞƌƌƵƉƚŝďůĞĚĞŵĂŶĚƐŚĂůůďĞďŝůůĞĚĂƚƚŚĞ ĨŝƌŵĚĞŵĂŶĚƌĂƚĞƵŶĚĞƌƚŚĞĂƉƉƌŽƉƌŝĂƚĞD'^͕>'^͕Žƌ>/^ĨŝƌŵƌĂƚĞƐĐŚĞĚƵůĞ͘ ƵƐƚŽŵĞƌƐŶŽŵŝŶĂƚŝŶŐĂŶĂŵŽƵŶƚŽĨĨŝƌŵĚĞŵĂŶĚĂƌĞƌĞƋƵŝƌĞĚƚŽŝŶƚĞƌƌƵƉƚĂůůĚĞŵĂŶĚŽǀĞƌƚŚĞŝƌĨŝƌŵƐĞƌǀŝĐĞůĞǀĞů͘ ƵƐƚŽŵĞƌƐŵĂLJŝŶƚĞƌƌƵƉƚĚĞŵĂŶĚďĞůŽǁƚŚĞĨŝƌŵƐĞƌǀŝĐĞůĞǀĞů͘tŚĞŶƉĞĂŬŵĞƚĞƌĞĚĚĞŵĂŶĚĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚŝƐĞƋƵĂůƚŽŽƌ ŐƌĞĂƚĞƌƚŚĂŶƚŚĞĨŝƌŵƐĞƌǀŝĐĞůĞǀĞů͕ƚŚĞ&ŝƌŵŝůůŝŶŐĞŵĂŶĚƐŚĂůůďĞĞƋƵĂůƚŽƚŚĞĂĐƚƵĂůŵĞƚĞƌĞĚĚĞŵĂŶĚĚƵƌŝŶŐƚŚĞZWhͲ ƌĞƋƵĞƐƚĞĚƐĞƌǀŝĐĞŝŶƚĞƌƌƵƉƚŝŽŶĐŽŶĐƵƌƌĞŶƚǁŝƚŚƚŚĞƐLJƐƚĞŵƉĞĂŬĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚtŚĞŶƉĞĂŬŵĞƚĞƌĞĚĚĞŵĂŶĚĨŽƌƚŚĞ ďŝůůŝŶŐƉĞƌŝŽĚŝƐůĞƐƐƚŚĂŶƚŚĞĨŝƌŵƐĞƌǀŝĐĞůĞǀĞů͕ƚŚĞ&ŝƌŵŝůůŝŶŐĞŵĂŶĚǁŝůůďĞƚŚĞŐƌĞĂƚĞƌŽĨĞŝƚŚĞƌƚŚĞƉĞĂŬŵĞƚĞƌĞĚĚĞŵĂŶĚ ĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚŵŝŶƵƐƚŚĞĂĐƚƵĂůĚĞŵĂŶĚƌĞĚƵĐƚŝŽŶĚƵƌŝŶŐƚŚĞZWhͲƌĞƋƵĞƐƚĞĚƐĞƌǀŝĐĞŝŶƚĞƌƌƵƉƚŝŽŶĐŽŶĐƵƌƌĞŶƚǁŝƚŚƚŚĞ ZWhƐLJƐƚĞŵƉĞĂŬĨŽƌƚŚĞďŝůůŝŶŐƉĞƌŝŽĚ͕ŽƌϱϬйŽĨƚŚĞ&ŝƌŵĞŵĂŶĚEŽŵŝŶĂƚŝŽŶĨŽƌƚŚĞŵŽƐƚĐƵƌƌĞŶƚ:ƵŶĞͲ^ĞƉƚĞŵďĞƌŵŽŶƚŚƐ ŵŝŶƵƐƚŚĞĂĐƚƵĂůĚĞŵĂŶĚƌĞĚƵĐƚŝŽŶĚƵƌŝŶŐƚŚĞZWhͲƌĞƋƵĞƐƚĞĚƐĞƌǀŝĐĞŝŶƚĞƌƌƵƉƚŝŽŶĐŽŶĐƵƌƌĞŶƚǁŝƚŚƚŚĞZWhƐLJƐƚĞŵƉĞĂŬĨŽƌ ƚŚĞďŝůůŝŶŐƉĞƌŝŽĚ͘ůůĚĞŵĂŶĚĂďŽǀĞƚŚĞĨŝƌŵƐĞƌǀŝĐĞůĞǀĞůĨŽƌƚŚĞŵŽŶƚŚƐŚĂůůďĞďŝůůĞĚĂƚƚŚĞĂƉƉƌŽƉƌŝĂƚĞŝŶƚĞƌƌƵƉƚŝďůĞƌĂƚĞ͘ tŚĞƌĞŶŽZWhƌĞƋƵĞƐƚĞĚŝŶƚĞƌƌƵƉƚŝŽŶŽĐĐƵƌƐĚƵƌŝŶŐƚŚĞŵŽŶƚŚ͕ĂůůĚĞŵĂŶĚƵƉƚŽƚŚĞĨŝƌŵĚĞŵĂŶĚŶŽŵŝŶĂƚŝŽŶƐŚĂůůďĞďŝůůĞĚĂƚ ƚŚĞĂƉƉƌŽƉƌŝĂƚĞĨŝƌŵĚĞŵĂŶĚƌĂƚĞ͘ ŽƚŚĨŝƌŵĂŶĚŝŶƚĞƌƌƵƉƚŝďůĞďŝůůŝŶŐĚĞŵĂŶĚƐƐŚĂůůďĞĂĚũƵƐƚĞĚĨŽƌƉŽǁĞƌĨĂĐƚŽƌ͘ dŚĞƌĞŝƐŶŽƌĂƚĐŚĞƚƉƌŽǀŝƐŝŽŶĨŽƌŝŶƚĞƌƌƵƉƚŝďůĞĚĞŵĂŶĚ͘ D/E/DhD/>>͗ dŚĞŵŝŶŝŵƵŵďŝůůƐŚĂůůŶŽƚďĞůĞƐƐƚŚĂŶƚŚĞĂĚũƵƐƚĞĚďŝůůŝŶŐĚĞŵĂŶĚ͕ĂƐƉƌŽǀŝĚĞĚĂďŽǀĞ͕ǁŚĞƚŚĞƌŽƌŶŽƚĞŶĞƌŐLJŝƐƵƐĞĚ͘ WzDEd͗ WĂLJŵĞŶƚƐĂƌĞĚƵĞŽŶŽƌďĞĨŽƌĞƚŚĞĚƵĞĚĂƚĞ͘ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( ŽŶƚŝŶƵĞĚ͙ Zd^,h>/EdZ ^,dϰK&ϰ KE/d/KE^K&>/sZz͗ ϭ͘^ĞƌǀŝĐĞĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞŝƐƐƵďũĞĐƚƚŽĂƉƉůŝĐĂďůĞƉƌŽǀŝƐŝŽŶƐŽĨZWhΖƐƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐ ĂŶĚZĞŐƵůĂƚŝŽŶƐ͘ Ϯ͘dŚĞƵƐƚŽŵĞƌƐŚĂůůŝŶƐƚĂůů͕ŽǁŶ͕ŽƉĞƌĂƚĞ͕ĂŶĚŵĂŝŶƚĂŝŶƚŚĞĞƋƵŝƉŵĞŶƚŶĞĐĞƐƐĂƌLJƚŽŝŶƚĞƌƌƵƉƚŝƚƐůŽĂĚ͘ ϯ͘/ŶĐĞƌƚĂŝŶĐĂƐĞƐ͕ƚŚĞŝŶƚĞƌƌƵƉƚŝďůĞƉŽƌƚŝŽŶŽĨƚŚĞĐƵƐƚŽŵĞƌΖƐůŽĂĚŵĂLJŚĂǀĞƚŽďĞŵĞƚĞƌĞĚƐĞƉĂƌĂƚĞůLJ͘ ϰ͘dŚĞƵƐƚŽŵĞƌƐŚĂůůƉĂLJŝŶĂĚǀĂŶĐĞŽĨĐŽŶƐƚƌƵĐƚŝŽŶ͕ĂůůĐŽƐƚƐĞƐƚŝŵĂƚĞĚďLJZWhĨŽƌĨĂĐŝůŝƚŝĞƐůŽĐĂƚĞĚŽŶƵƐƚŽŵĞƌΖƐ ƉƌĞŵŝƐĞƐǁŚŝĐŚĂƌĞŶĞĐĞƐƐĂƌLJƚŽƐĞƌǀĞƚŚĞŝŶƚĞƌƌƵƉƚŝďůĞƉŽƌƚŝŽŶŽĨƚŚĞƵƐƚŽŵĞƌΖƐůŽĂĚĂŶĚǁŚŝĐŚĚƵƉůŝĐĂƚĞŽƚŚĞƌ ZWhĨĂĐŝůŝƚŝĞƐǁŚŝĐŚĂƌĞƵƚŝůŝnjĞĚƚŽĚĞůŝǀĞƌĞůĞĐƚƌŝĐƐĞƌǀŝĐĞƵŶĚĞƌŽƚŚĞƌƐĐŚĞĚƵůĞƐ͘dŚŝƐŝŶĐůƵĚĞƐĂŶLJƐƉĞĐŝĂůŵĞƚĞƌŝŶŐ ŶĞĞĚĞĚĨŽƌZWhƚŽĂĚŵŝŶŝƐƚĞƌƚŚĞ/EdZƌĂƚĞ͘hƉŽŶĐŽŵƉůĞƚŝŽŶŽĨƚŚĞŝŶƐƚĂůůĂƚŝŽŶŽĨƐƵĐŚĨĂĐŝůŝƚŝĞƐďLJZWh͕ƚŚĞĂĐƚƵĂů ĐŽƐƚŽĨƐƵĐŚĨĂĐŝůŝƚŝĞƐƐŚĂůůďĞĐŚĂƌŐĞĚƚŽƚŚĞƵƐƚŽŵĞƌǁŝƚŚƚŚĞƵƐƚŽŵĞƌΖƐĂĚǀĂŶĐĞƉĂLJŵĞŶƚďĞŝŶŐĂƉƉůŝĞĚĂƐĐƌĞĚŝƚ ƚŽƐƵĐŚĂĐƚƵĂůĐŽƐƚƐ͘dŚĞĐŽƐƚŽĨŵĂũŽƌƌĞŶĞǁĂůĂŶĚƌĞƉůĂĐĞŵĞŶƚŽĨZWhͲŽǁŶĞĚĞůĞĐƚƌŝĐĨĂĐŝůŝƚŝĞƐůŽĐĂƚĞĚŽŶƚŚĞ ƵƐƚŽŵĞƌΖƐƉƌĞŵŝƐĞƐǁŚŝĐŚĂƌĞƵƚŝůŝnjĞĚĨŽƌŝŶƚĞƌƌƵƉƚŝďůĞƐĞƌǀŝĐĞĂŶĚǁŚŝĐŚĚƵƉůŝĐĂƚĞŽƚŚĞƌZWhĨĂĐŝůŝƚŝĞƐ͕ƐŚĂůůďĞ ďŽƌŶĞďLJƚŚĞƵƐƚŽŵĞƌ͘ ϱ͘tŚĞŶŶŽƚŝĨŝĞĚďLJZWh͕ƚŚĞƵƐƚŽŵĞƌƐŚĂůůƌĞŵŽǀĞƚŚĞŝŶƚĞƌƌƵƉƚŝďůĞƉŽƌƚŝŽŶŽĨŝƚƐůŽĂĚĨƌŽŵZWhΖƐƐLJƐƚĞŵŝŶƚǁŽ;ϮͿ ŚŽƵƌƐŽƌůĞƐƐ͘ ϲ͘hƉŽŶŽŶĞLJĞĂƌΖƐŶŽƚŝĐĞƚŽƚŚĞƵƐƚŽŵĞƌ͕ZWhŵĂLJŵŽĚŝĨLJƚŚĞŚŽƵƌƐĂŶĚĨƌĞƋƵĞŶĐLJŽĨŝŶƚĞƌƌƵƉƚŝŽŶƐƉĞĐŝĨŝĞĚŚĞƌĞŝŶƚŽ ƌĞĨůĞĐƚĐŚĂŶŐĞƐŝŶZWhΖƐĞůĞĐƚƌŝĐƐLJƐƚĞŵůŽĂĚĐŚĂƌĂĐƚĞƌŝƐƚŝĐƐ͘ ϳ͘/ŶƚĞƌƌƵƉƚŝŽŶƐŽĨƐĞƌǀŝĐĞĐĂƵƐĞĚďLJĨŝƌĞ͕ĂĐĐŝĚĞŶƚ͕ĞdžƉůŽƐŝŽŶ͕ĨůŽŽĚ͕ƐƚƌŝŬĞ͕ĂĐƚƐŽĨ'ŽĚ͕ŽƌĐĂƵƐĞƐŽƚŚĞƌƚŚĂŶŝŶƚĞŶƚŝŽŶĂů ŝŶƚĞƌƌƵƉƚŝŽŶƐŽƌĚĞƌĞĚďLJZWhƐŚĂůůŶŽƚďĞĐŽŶƐŝĚĞƌĞĚŝŶĚĞƚĞƌŵŝŶŝŶŐƚŚĞŚŽƵƌƐŽƌĨƌĞƋƵĞŶĐLJŽĨŝŶƚĞƌƌƵƉƚŝŽŶƐƉĞĐŝĨŝĞĚ ŚĞƌĞŝŶ͘ ϴ͘ZWh͕ĂƚŝƚƐƐŽůĞĚŝƐĐƌĞƚŝŽŶ͕ŵĂLJŝŵŵĞĚŝĂƚĞůLJƚĞƌŵŝŶĂƚĞƐĞƌǀŝĐĞƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞƵƉŽŶƚŚĞƌĞƉĞĂƚĞĚ ƵŶĂƵƚŚŽƌŝnjĞĚƵƐĞŽĨĞůĞĐƚƌŝĐŝƚLJďLJƚŚĞĐƵƐƚŽŵĞƌĚƵƌŝŶŐƉĞƌŝŽĚƐŽĨŝŶƚĞƌƌƵƉƚŝŽŶŽƌĚĞƌĞĚďLJZWh͘ ϵ͘/ŶƚĞƌƌƵƉƚŝďůĞƐĞƌǀŝĐĞƐŚĂůůŶŽƚďĞƵƐĞĚĂƐƐƚĂŶĚďLJĨŽƌĂŶLJŽƚŚĞƌĨŽƌŵƐŽĨĞŶĞƌŐLJŽƌĨƵĞů͘ ϭϬ͘hŶůĞƐƐĂƵƚŚŽƌŝnjĞĚďLJĂƐĞƉĂƌĂƚĞǁƌŝƚƚĞŶĂŐƌĞĞŵĞŶƚ͕ƐƚĂŶĚďLJĞůĞĐƚƌŝĐŐĞŶĞƌĂƚŝŶŐĞƋƵŝƉŵĞŶƚŝŶƐƚĂůůĞĚďLJƚŚĞƵƐƚŽŵĞƌ ƐŚĂůůŶŽƚďĞŝŶƚĞƌĐŽŶŶĞĐƚĞĚŽƌŽƉĞƌĂƚĞĚŝŶƉĂƌĂůůĞůǁŝƚŚƚŚĞZWhƐLJƐƚĞŵ͘ƵƐƚŽŵĞƌƐŚĂůůŽǁŶ͕ŝŶƐƚĂůů͕ŽƉĞƌĂƚĞ͕ĂŶĚ ŵĂŝŶƚĂŝŶĞůĞĐƚƌŝĐĂůŝŶƚĞƌůŽĐŬŝŶŐĞƋƵŝƉŵĞŶƚ͕ǁŚŝĐŚǁŝůůƉƌĞǀĞŶƚƉĂƌĂůůĞůŽƉĞƌĂƚŝŽŶ͕ĂŶĚƐƵĐŚĞƋƵŝƉŵĞŶƚƐŚĂůůďĞ ĂƉƉƌŽǀĞĚďLJZWhƉƌŝŽƌƚŽŝŶƐƚĂůůĂƚŝŽŶ͘ZWhƐŚĂůůŚĂǀĞƚŚĞƌŝŐŚƚƚŽŝŶƐƉĞĐƚƚŚĞƵƐƚŽŵĞƌΖƐŝŶƚĞƌƌƵƉƚŝŶŐĨĂĐŝůŝƚŝĞƐĂƐ ŽĨƚĞŶĂƐĚĞĞŵĞĚƉƌƵĚĞŶƚďLJZWhƚŽǀĞƌŝĨLJƚŚĞŝƌŽƉĞƌĂƚŝŶŐĐŽŶĚŝƚŝŽŶĂŶĚƉƌŽƉĞƌŝŶƚĞƌĐŽŶŶĞĐƚŝŽŶ͘ ϭϭ͘ZWhƐŚĂůůŶŽƚďĞůŝĂďůĞĨŽƌĂŶLJĚĂŵĂŐĞŽƌůŽƐƐƐƵƐƚĂŝŶĞĚďLJƵƐƚŽŵĞƌƐƌĞƐƵůƚŝŶŐĨƌŽŵŝŶƚĞƌƌƵƉƚŝŽŶƐ͕ĚĞĨŝĐŝĞŶĐŝĞƐŽƌ ŝŵƉĞƌĨĞĐƚŝŽŶƐŽĨƐĞƌǀŝĐĞƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞ͘ ϭϮ͘ŶĞƌŐLJĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐŚĂůůŶŽƚďĞƌĞƐŽůĚ͘ ϭϯ͘ƵƐƚŽŵĞƌƐƐŚĂůůƉƌŽǀŝĚĞZWhǁŝƚŚƐƵĨĨŝĐŝĞŶƚĂĚǀĂŶĐĞŶŽƚŝĐĞŽĨƚŚĞŝƌŝŶƚĞŶƚŝŽŶƚŽƵƐĞƚŚĞ/EdZƌĂƚĞƚŽĂůůŽǁZWhƚŝŵĞ ƚŽƉƌŽǀŝĚĞĂŶLJŶĞĐĞƐƐĂƌLJƐƵƉƉůĞŵĞŶƚĂůĞƋƵŝƉŵĞŶƚĂŶĚŵĞƚĞƌŝŶŐ͘ ϭϰ͘ƵƐƚŽŵĞƌƐƵƐŝŶŐƚŚĞ/EdZƌĂƚĞƐŚĂůůŶŽƚŝĨLJZWhŝŶǁƌŝƚŝŶŐŽĨƚŚĞŝƌŝŶƚĞŶƚŝŽŶƚŽƵƐĞĞŝƚŚĞƌƚŚĞŝŶƚĞƌƌƵƉƚŝďůĞĚĞŵĂŶĚ ŶŽŵŝŶĂƚŝŽŶŽƌƚŚĞĨŝƌŵĚĞŵĂŶĚŶŽŵŝŶĂƚŝŽŶĂŶĚƚŚĞĂŵŽƵŶƚŽĨƚŚĞŝƌŝŶƚĞƌƌƵƉƚŝďůĞŽƌĨŝƌŵůŽĂĚƐ͘ ϭϱ͘ƵƐƚŽŵĞƌƐŵĂLJĐŚĂŶŐĞƚŚĞŝƌŵĞƚŚŽĚŽĨŶŽŵŝŶĂƚŝŽŶŽƌůĞǀĞůŽĨŶŽŵŝŶĂƚŝŽŶŽƌďŽƚŚŶŽŵŽƌĞĨƌĞƋƵĞŶƚůLJƚŚĂŶŽŶĐĞƉĞƌ LJĞĂƌǁŝƚŚϲϬĚĂLJƐǁƌŝƚƚĞŶŶŽƚŝĐĞĂŶĚĂƉƉƌŽǀĂůĨƌŽŵZWh͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( W ^,dϭK&ϭ WKtZK^d:h^dDEd WW>/d/KE͗ ƉƉůŝĐĂďůĞƚŽĂůůƌĂƚĞƐĐŚĞĚƵůĞƐǁŚĞƌĞƚŚĞƌĞŝƐĂŬtŚĐŚĂƌŐĞ͘ ϭ͘dŚĞWŽǁĞƌŽƐƚĚũƵƐƚŵĞŶƚǁŝůůďĞĚĞƚĞƌŵŝŶĞĚŵŽŶƚŚůLJ͕ǁŝƚŚĂƉƉůŝĐĂƚŝŽŶƚŽƚŚĞĨŝƌƐƚƌĞǀĞŶƵĞĐLJĐůĞĞĂĐŚŵŽŶƚŚ͘ Ϯ͘dŚĞWŽǁĞƌŽƐƚĚũƵƐƚŵĞŶƚŝƐĚĞƚĞƌŵŝŶĞĚďLJĐĂůĐƵůĂƚŝŶŐƚŚĞĂǀĞƌĂŐĞĂĐƚƵĂůĐŽƐƚƉĞƌŬtŚŽĨƌĞƚĂŝůƉŽǁĞƌƐƵƉƉůLJĨƌŽŵ ĂůůƐŽƵƌĐĞƐ͕ĂŶĚƐƵďƚƌĂĐƚŝŶŐƚŚĞƐƚĂďůŝƐŚĞĚWŽǁĞƌ^ƵƉƉůLJŽƐƚ͘ůůĐĂůĐƵůĂƚŝŽŶƐǁŝůůďĞĐĂƌƌŝĞĚŽƵƚƚŽΨ͘ϬϬϬϬϭƉĞƌŬtŚ͘ WŽǁĞƌƐƵƉƉůLJĐŽƐƚƐŝŶĐůƵĚĞƚŚĞĐŽƐƚŽĨƉƵƌĐŚĂƐĞĚƉŽǁĞƌŝŶĐůƵĚŝŶŐĐŚĂƌŐĞƐĨŽƌĞŶĞƌŐLJ͕ĚĞŵĂŶĚ͕ĐĂƉĂĐŝƚLJ͕ŐĞŶĞƌĂƚŝŽŶ͕ ƚƌĂŶƐŵŝƐƐŝŽŶ͕ĐŽƐƚĂĚũƵƐƚŵĞŶƚƐ͕ĨĞĞƐĨŽƌƌĞŐŝŽŶĂůƉŽǁĞƌŐƌŝĚƐĞƌǀŝĐĞƐ͕ƉŽǁĞƌƐƵƉƉůLJƌĞǀĞŶƵĞƐŝŶĐůƵĚŝŶŐĐĂƉĂĐŝƚLJƐĂůĞƐ ĂŐƌĞĞŵĞŶƚƐŽĨůĞƐƐƚŚĂŶϱLJĞĂƌƐ͕ĂŶĚŐƌŽƐƐŵĂƌŐŝŶŽŶǁŚŽůĞƐĂůĞŐĞŶĞƌĂƚŝŽŶƐĂůĞƐ͘ ϯ͘dŚĞƐƚĂďůŝƐŚĞĚWŽǁĞƌ^ƵƉƉůLJŽƐƚĂƐĞŽĨΨϬ͘ϬϳϮϴϱǁĂƐĚĞƚĞƌŵŝŶĞĚďLJƚŚĞϮϬϭϰĐŽƐƚŽĨƐĞƌǀŝĐĞƐƚƵĚLJ͘dŚĞďĂƐĞǁŝůů ďĞĂĚũƵƐƚĞĚĂƐƐƵďƐĞƋƵĞŶƚƌĞǀŝĞǁƐŝĚĞŶƚŝĨLJĂƉĞƌŵĂŶĞŶƚĂŶĚƐƵďƐƚĂŶƚŝĂůĐŚĂŶŐĞŝŶƚŚĞĐŽƐƚŽĨƉŽǁĞƌ͘dŚĞWŽǁĞƌ ^ƵƉƉůLJŽƐƚĂƐĞǁŝůůďĞĂĚũƵƐƚĞĚƚŽƌĞƚĂŝŶƚŚĞĞdžƉĞĐƚĞĚ^DDWƌĂƚĞĂĚũƵƐƚŵĞŶƚƐĨŽƌƌĞƚŝƌĞŵĞŶƚŽĨĚĞďƚƐĞƌǀŝĐĞĂŶĚ ƚŽƌĞƚĂŝŶƚŚĞĐƵƌƌĞŶƚĂǀĞƌĂŐĞǁŚŽůĞƐĂůĞŐĞŶĞƌĂƚŝŽŶŐƌŽƐƐŵĂƌŐŝŶ͘ ϰ͘dŚĞWŽǁĞƌŽƐƚĚũƵƐƚŵĞŶƚǁŝůůďĞƚŚĞĚŝĨĨĞƌĞŶĐĞďĞƚǁĞĞŶƚŚĞĂĐƚƵĂůĂŵŽƵŶƚƉĞƌŬtŚĐĂůĐƵůĂƚĞĚŝŶηϮĂďŽǀĞĂŶĚ ƚŚĞƐƚĂďůŝƐŚĞĚWŽǁĞƌ^ƵƉƉůLJŽƐƚĂƐĞͬŬtŚ͘dŚŝƐĚŽůůĂƌĂŵŽƵŶƚƉĞƌŬtŚǁŝůůďĞĂĚĚĞĚ;ƐƵďƚƌĂĐƚĞĚͿƚŽĞĂĐŚŬtŚŽĨ ƐĂůĞƐ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( Zd^,h>^> ^,dϭK&ϭ /dz^dZd>/',d/E' s/>/>/dz͗ dŽƚŚĞŝƚLJŽĨZŽĐŚĞƐƚĞƌĨŽƌƚŚĞŝůůƵŵŝŶĂƚŝŽŶŽĨƉƵďůŝĐƚŚŽƌŽƵŐŚĨĂƌĞƐďLJŵĞĂŶƐŽĨZWhŽǁŶĞĚŽǀĞƌŚĞĂĚƐƚƌĞĞƚůŝŐŚƚŝŶŐĨĂĐŝůŝƚŝĞƐ͘ Zd͗ ϮϬϮϲϮϬϮϳ WĞƌŬtŚĨŽƌĂůůŬtŚŝůůĞĚ >ZWhKǁŶĞĚ;ůů^ŝnjĞƐͿϲϱ͘ϭϳϲΪϲϵ͘ϱϳϲΪ >;ůů^ŝnjĞƐͿϱϭ͘ϱϲϴΪϱϲ͘ϱϵϱΪ WKtZK^d:h^dDEd͗ ŝůůƐĐŽŵƉƵƚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞĂƌĞƐƵďũĞĐƚƚŽĂĚũƵƐƚŵĞŶƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞWŽǁĞƌŽƐƚĚũƵƐƚŵĞŶƚ;WͿ͘ KE/d/KE^K&>/sZz͗ ϭ͘dŚŝƐƌĂƚĞŝƐďĂƐĞĚŽŶůĂŵƉƐďĞŝŶŐůŝŐŚƚĞĚĞǀĞƌLJŶŝŐŚƚĨƌŽŵĂƉƉƌŽdžŝŵĂƚĞůLJϯϬŵŝŶƵƚĞƐĂĨƚĞƌƐƵŶƐĞƚƚŽϯϬŵŝŶƵƚĞƐ ďĞĨŽƌĞƐƵŶƌŝƐĞ͕ƉƌŽǀŝĚŝŶŐĚƵƐŬƚŽĚĂǁŶŽƉĞƌĂƚŝŽŶ͘ Ϯ͘ZWhǁŝůůƌĞƉůĂĐĞŝŶŽƉĞƌĂƚŝǀĞůĂŵƉƐĂŶĚŽƚŚĞƌǁŝƐĞŵĂŝŶƚĂŝŶůƵŵŝŶĂŝƌĞƐĚƵƌŝŶŐƌĞŐƵůĂƌĚĂLJƚŝŵĞŚŽƵƌƐ͘EŽĐƌĞĚŝƚǁŝůůďĞ ĂůůŽǁĞĚĨŽƌƉĞƌŝŽĚƐĚƵƌŝŶŐǁŚŝĐŚƚŚĞůĂŵƉƐĂƌĞŽƵƚŽĨƐĞƌǀŝĐĞ͘ZŽƵƚŝŶĞůĂŵƉƌĞƉůĂĐĞŵĞŶƚǁŝůůďĞŵĂĚĞŽŶĂŐƌŽƵƉ ƌĞƉůĂĐĞŵĞŶƚƐĐŚĞĚƵůĞ͘ ϯ͘ZWhǁŝůůĚĞƚĞƌŵŝŶĞƚŚĞĂŵŽƵŶƚŽĨĞŶĞƌŐLJƵƐĞĚĚƵƌŝŶŐĂŶLJŵŽŶƚŚďLJŵƵůƚŝƉůLJŝŶŐƚŚĞƌĂƚĞĚŬŝůŽǁĂƚƚĐĂƉĂĐŝƚLJŽĨĂůů ůĂŵƉƐĂŶĚĂĐĐĞƐƐŽƌLJĞƋƵŝƉŵĞŶƚďLJϯϱϬŚŽƵƌƐĨŽƌƚŚĞŵŽŶƚŚ͘ ϰ͘ZWhƐŚĂůůŶŽƚďĞůŝĂďůĞĨŽƌĂŶLJĚĂŵĂŐĞŽƌůŽƐƐƐƵƐƚĂŝŶĞĚďLJĐƵƐƚŽŵĞƌƐƌĞƐƵůƚŝŶŐĨƌŽŵŝŶƚĞƌƌƵƉƚŝŽŶƐ͕ĚĞĨŝĐŝĞŶĐŝĞƐ͕Žƌ ŝŵƉĞƌĨĞĐƚŝŽŶƐŽĨƐĞƌǀŝĐĞƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( Zd^,h>d^ ^,dϭK&ϭ dZ&&/^/'E>^ s/>/>/dz͗ dŽŐŽǀĞƌŶŵĞŶƚĂůƵŶŝƚƐĨŽƌĞůĞĐƚƌŝĐƐĞƌǀŝĐĞƚŽĐƵƐƚŽŵĞƌͲŽǁŶĞĚƚƌĂĨĨŝĐƐŝŐŶĂůƐLJƐƚĞŵƐŽŶƉƵďůŝĐƐƚƌĞĞƚƐ͘ Zd͗ DŽŶƚŚůLJ&ŝdžĞĚĐŚĂƌŐĞ͗ƉĞƌƚƌĂĨĨŝĐƐŝŐŶĂůĐŽŶƚƌŽůĐĂďŝŶĞƚƐĞƌǀĞĚ͗ ϮϬϮϲϮϬϮϳ &ŝdžĞĚŚĂƌŐĞΨϯϴ͘ϬϳΨϯϵ͘ϳϳ ŶĞƌŐLJŚĂƌŐĞͬŬtŚϭϭ͘ϴϭϱΪϭϮ͘ϯϰϴΪ D/E/DhD/>>͗ dŚĞŵŝŶŝŵƵŵďŝůůŝƐƉĞƌƚƌĂĨĨŝĐƐŝŐŶĂůĐŽŶƚƌŽůĐĂďŝŶĞƚƐĞƌǀĞĚĨŽƌĂŶLJŵŽŶƚŚŽƌƉŽƌƚŝŽŶŽĨĂŵŽŶƚŚ͘ ϮϬϮϲϮϬϮϳ DŝŶŝŵƵŵŝůůΨϯϴ͘ϬϳΨϯϵ͘ϳϳ WKtZK^d:h^dDEd͗ ŝůůƐĐŽŵƉƵƚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞĂƌĞƐƵďũĞĐƚƚŽĂĚũƵƐƚŵĞŶƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞWŽǁĞƌŽƐƚĚũƵƐƚŵĞŶƚ;WͿ͘ KE/d/KE^K&>/sZz͗ ϭ͘ZWhƐŚĂůůŶŽƚďĞůŝĂďůĞĨŽƌĂŶLJĚĂŵĂŐĞŽƌůŽƐƐƐƵƐƚĂŝŶĞĚďLJĐƵƐƚŽŵĞƌƌĞƐƵůƚŝŶŐĨƌŽŵŝŶƚĞƌƌƵƉƚŝŽŶƐ͕ĚĞĨŝĐŝĞŶĐŝĞƐ͕Žƌ ŝŵƉĞƌĨĞĐƚŝŽŶƐŽĨƐĞƌǀŝĐĞƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( Zd^,h>^> ^,dϭK&ϭ ^hZ/dz>/',d/E' s/>/>/dz͗ ƚĂůůůŽĐĂƚŝŽŶƐǁŚĞŶĞǀĞƌƚŚĞƐĞƌǀŝĐĞĐĂŶďĞƉƌŽǀŝĚĞĚǁŝƚŚŽǀĞƌŚĞĂĚǁŝƌŝŶŐŽŶĂŶĞdžŝƐƚŝŶŐZWhŽǁŶĞĚƉŽůĞ͘ WW>/d/KE͗ dŽĂůůĐůĂƐƐĞƐŽĨĐƵƐƚŽŵĞƌƐĐŽŶƚƌĂĐƚŝŶŐĨŽƌƐĞĐƵƌŝƚLJůŝŐŚƚŝŶŐ͘ Zd͗ DŽŶƚŚůLJŚĂƌŐĞ ϮϬϮϲϮϬϮϳ DĞƌĐƵƌLJsĂƉŽƌ>ŝŐŚƚƐ;ůŽƐĞĚͿ ^ŝnjĞ͗ϭϳϱtĂƚƚDĞƌĐƵƌLJsĂƉŽƌΨϭϮ͘ϬϱΨϭϮ͘ϳϳ ϮϱϬtĂƚƚDĞƌĐƵƌLJsĂƉŽƌΨϭϱ͘ϬϰΨϭϱ͘ϵϰ ϰϬϬtĂƚƚDĞƌĐƵƌLJsĂƉŽƌΨϮϬ͘ϵϮΨϮϮ͘ϭϴ ,ŝŐŚWƌĞƐƐƵƌĞ^ŽĚŝƵŵsĂƉŽƌ>ŝŐŚƚƐ;ůŽƐĞĚͿ ^ŝnjĞ͗ϳϬtĂƚƚΨϭϬ͘ϰϴΨϭϭ͘ϭϭ ϭϬϬtĂƚƚΨϭϮ͘ϰϵΨϭϯ͘Ϯϰ ϭϱϬtĂƚƚ;ZŽĂĚǁĂLJͿΨϭϰ͘ϬϱΨϭϰ͘ϴϵ ϮϱϬtĂƚƚΨϭϳ͘ϰϵΨϭϴ͘ϱϰ ϰϬϬtĂƚƚΨϮϮ͘ϵϯΨϮϰ͘ϯϭ >ŝŐŚƚŵŝƚƚŝŶŐŝŽĚĞ;>Ϳ>ŝŐŚƚƐ ^ŝnjĞ͗>ƌĞĂ>ŝŐŚƚΨϭϮ͘ϰϵΨϭϯ͘Ϯϰ >ZŽĂĚǁĂLJ>ŝŐŚƚΨϭϳ͘ϰϵΨϭϴ͘ϱϰ WzDEd͗ ŝůůƐǁŝůůďĞƌĞŶĚĞƌĞĚŵŽŶƚŚůLJ͖ƉĂLJŵĞŶƚƐĂƌĞĚƵĞŽŶŽƌďĞĨŽƌĞƚŚĞĚƵĞĚĂƚĞ͘ KE/d/KE^K&>/sZz͗ ϭ͘ZWhǁŝůůĨƵƌŶŝƐŚ͕ŝŶƐƚĂůů͕ŽǁŶ͕ĂŶĚŵĂŝŶƚĂŝŶĂƐƚĂŶĚĂƌĚůŝŐŚƚŝŶŐƵŶŝƚĐŽŶƐŝƐƚŝŶŐŽĨĂůƵŵŝŶĂŝƌĞ͕ĐŽŵƉůĞƚĞǁŝƚŚůĂŵƉĂŶĚ ĐŽŶƚƌŽůĚĞǀŝĐĞǁŝƌĞĚĨŽƌŽƉĞƌĂƚŝŽŶ͕ƐƵƉƉŽƌƚĞĚďLJĂďƌĂĐŬĞƚŵŽƵŶƚĞĚŽŶĂŶZWhŽǁŶĞĚƉŽůĞ͕ĂŶĚǁŝůůƐƵƉƉůLJĂůůĞůĞĐƚƌŝĐĂů ĞŶĞƌŐLJŶĞĐĞƐƐĂƌLJĨŽƌƚŚĞŽƉĞƌĂƚŝŽŶŽĨƚŚĞƵŶŝƚ͘ Ϯ͘tŚĞŶZWhĚŽĞƐŶŽƚŚĂǀĞĂƐƵŝƚĂďůĞƉŽůĞŽƌƐĞĐŽŶĚĂƌLJƐĞƌǀŝĐĞĂǀĂŝůĂďůĞĂƚƚŚĞĚĞƐŝƌĞĚůŽĐĂƚŝŽŶĂŶĚŝƚŝƐŶĞĐĞƐƐĂƌLJƚŽ ŝŶƐƚĂůůĂƚƌĂŶƐĨŽƌŵĞƌŽƌĂƉŽůĞŽƌƚŽĞdžƚĞŶĚƐĞĐŽŶĚĂƌLJůŝŶĞƐĂĚŝƐƚĂŶĐĞŐƌĞĂƚĞƌƚŚĂŶϭϱϬĨĞĞƚ͕ƚŚĞĐƵƐƚŽŵĞƌƐŚĂůůƉĂLJZWh ƚŚĞĂĐƚƵĂůĐŽƐƚƐĨŽƌŝŶƐƚĂůůŝŶŐƚŚĞƚƌĂŶƐĨŽƌŵĞƌŽƌƉŽůĞĂŶĚͬŽƌŵĂŬŝŶŐƐƵĐŚůŝŶĞĞdžƚĞŶƐŝŽŶƐ͘ ϯ͘^ĞƌǀŝĐĞƵŶĚĞƌƚŚŝƐƌĂƚĞŝƐŶŽƚĂǀĂŝůĂďůĞƵŶĚĞƌŐƌŽƵŶĚŽƌŝŶƵŶĚĞƌŐƌŽƵŶĚĂƌĞĂƐƵŶůĞƐƐƚŚĞĐƵƐƚŽŵĞƌƉĂLJƐZWhƚŚĞ ĐŽŵƉůĞƚĞĐŽƐƚŽĨƚŚĞŶĞĐĞƐƐĂƌLJƵŶĚĞƌŐƌŽƵŶĚĨĂĐŝůŝƚŝĞƐ͘ ϰ͘>ĂŵƉƐǁŝůůĂƵƚŽŵĂƚŝĐĂůůLJďĞƐǁŝƚĐŚĞĚŽŶĂƉƉƌŽdžŝŵĂƚĞůLJϯϬŵŝŶƵƚĞƐĂĨƚĞƌƐƵŶƐĞƚĂŶĚŽĨĨϯϬŵŝŶƵƚĞƐďĞĨŽƌĞƐƵŶƌŝƐĞ͕ ƉƌŽǀŝĚŝŶŐĚƵƐŬƚŽĚĂǁŶŽƉĞƌĂƚŝŽŶŽĨĂƉƉƌŽdžŝŵĂƚĞůLJϰ͕ϮϬϬŚŽƵƌƐƉĞƌLJĞĂƌ͘ ϱ͘ZWhǁŝůůŵĂŬĞĞǀĞƌLJĂƚƚĞŵƉƚƚŽƌĞƉůĂĐĞŝŶŽƉĞƌĂƚŝǀĞůĂŵƉƐĂŶĚŵĂŝŶƚĂŝŶůƵŵŝŶĂƌŝĞƐĚƵƌŝŶŐƌĞŐƵůĂƌĚĂLJƚŝŵĞǁŽƌŬŚŽƵƌƐ ǁŝƚŚŝŶϯǁŽƌŬŝŶŐĚĂLJƐĂĨƚĞƌŶŽƚŝĨŝĐĂƚŝŽŶ͘EŽĐƌĞĚŝƚǁŝůůďĞĂůůŽǁĞĚĨŽƌƉĞƌŝŽĚƐĚƵƌŝŶŐǁŚŝĐŚƚŚĞůĂŵƉǁĂƐŽƵƚŽĨƐĞƌǀŝĐĞ͘ ϲ͘ZWhǁŝůů͕ĂƚƚŚĞĐƵƐƚŽŵĞƌΖƐĞdžƉĞŶƐĞ͕ƌĞůŽĐĂƚĞŽƌĐŚĂŶŐĞƚŚĞƉŽƐŝƚŝŽŶŽĨĂŶLJůĂŵƉŽƌƉŽůĞĂƐƌĞƋƵĞƐƚĞĚŝŶǁƌŝƚŝŶŐďLJƚŚĞ ĐƵƐƚŽŵĞƌ͘ ϳ͘^ĞƌǀŝĐĞĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞŝƐƐƵďũĞĐƚƚŽĂƉƉůŝĐĂďůĞƉƌŽǀŝƐŝŽŶƐŽĨZWhΖƐƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐĂŶĚ ZĞŐƵůĂƚŝŽŶƐ͘ ϴ͘ZWhƐŚĂůůŶŽƚďĞůŝĂďůĞĨŽƌĂŶLJĚĂŵĂŐĞŽƌůŽƐƐƐƵƐƚĂŝŶĞĚďLJĐƵƐƚŽŵĞƌƐƌĞƐƵůƚŝŶŐĨƌŽŵŝŶƚĞƌƌƵƉƚŝŽŶƐ͕ĚĞĨŝĐŝĞŶĐŝĞƐ͕Žƌ ŝŵƉĞƌĨĞĐƚŝŽŶƐŽĨƐĞƌǀŝĐĞƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( Zd^,h>hDZ ^,dϭK&ϭ hEDdZs/Zd s/>/>/dz͗ ƚĂůůůŽĐĂƚŝŽŶƐǁŚĞƌĞĨĂĐŝůŝƚŝĞƐŽĨĂĚĞƋƵĂƚĞĐĂƉĂĐŝƚLJĂŶĚƐƵŝƚĂďůĞǀŽůƚĂŐĞĂƌĞĂĚũĂĐĞŶƚƚŽƚŚĞůŽĐĂƚŝŽŶŽĨƚŚĞĚĞǀŝĐĞƚŽďĞƐĞƌǀĞĚ͘ WW>/d/KE͗ dŽĐŽŵŵĞƌĐŝĂůĐƵƐƚŽŵĞƌƐǁŚĞƌĞƚŚĞĞƐƚŝŵĂƚĞĚŵŽŶƚŚůLJŬtŚƌĞƋƵŝƌĞĚĚŽĞƐŶŽƚĞdžĐĞĞĚϯϬϬŬtŚĂŶĚŝƐĚĞƚĞƌŵŝŶĞĚďLJZWhƚŽ ŶŽƚǁĂƌƌĂŶƚĂŵĞƚĞƌ͘ ,ZdZK&^Zs/͗ ^ŝŶŐůĞŽĨƚŚƌĞĞƉŚĂƐĞ͕ϲϬ,Ğƌƚnj͕ĂůƚĞƌŶĂƚŝŶŐĐƵƌƌĞŶƚĂƚĂŶLJŽŶĞŽĨƚŚĞƐƚĂŶĚĂƌĚƐĞĐŽŶĚĂƌLJƐĞƌǀŝĐĞǀŽůƚĂŐĞƐĂƐĚĞƐĐƌŝďĞĚŝŶZWhΖƐ ƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐĂŶĚZĞŐƵůĂƚŝŽŶƐ͘ Zd͗ ϮϬϮϲϮϬϮϳ &ŝdžĞĚŚĂƌŐĞƉĞƌĚĞǀŝĐĞƉĞƌŵŽŶƚŚΨϭϮ͘ϲϱΨϭϯ͘ϰϭ ŶĞƌŐLJŚĂƌŐĞͬŬtŚϭϮ͘ϵϰϳΪϭϯ͘ϳϮϰΪ D/E/DhD/>>͗ dŚĞŵŝŶŝŵƵŵďŝůůŝƐƉĞƌĚĞǀŝĐĞĨŽƌĂŶLJŵŽŶƚŚŽƌƉŽƌƚŝŽŶŽĨĂŵŽŶƚŚ͘ ϮϬϮϲϮϬϮϳ DŝŶŝŵƵŵŝůů͗ΨϭϮ͘ϲϱΨϭϯ͘ϰϭ WzDEd͗ ŝůůƐǁŝůůďĞƌĞŶĚĞƌĞĚŵŽŶƚŚůLJ͖ƉĂLJŵĞŶƚƐĂƌĞĚƵĞŽŶŽƌďĞĨŽƌĞƚŚĞĚƵĞĚĂƚĞ͘ KE/d/KE^K&>/sZz͗ ϭ͘dŚĞĐƵƐƚŽŵĞƌƐŚĂůůĨƵƌŶŝƐŚ͕ŝŶƐƚĂůů͕ŽǁŶ͕ŽƉĞƌĂƚĞ͕ĂŶĚŵĂŝŶƚĂŝŶĂůůĚĞǀŝĐĞƐ͘dŚĞĐƵƐƚŽŵĞƌƐŚĂůůĂůƐŽĨƵƌŶŝƐŚ͕ŝŶƐƚĂůů͕ ŽǁŶ͕ĂŶĚŵĂŝŶƚĂŝŶĂŶLJƐƚƌƵĐƚƵƌĞƐƌĞƋƵŝƌĞĚĨŽƌƚŚĞŵŽƵŶƚŝŶŐĂŶĚƐƵƉƉŽƌƚŽĨĚĞǀŝĐĞƐ͖ĞdžĐĞƉƚǁŚĞƌĞƚŚĞĐƵƐƚŽŵĞƌ ƐƉĞĐŝĨŝĐĂůůLJƌĞƋƵĞƐƚƐĂŶĚZWhĂŐƌĞĞƐƚŽƵƐĞZWhŽǁŶĞĚƉŽůĞƐĨŽƌƚŚŝƐƉƵƌƉŽƐĞ͘/ŶƐƵĐŚĐĂƐĞƐ͕ZWhǁŝůůĂƐƐŝƐƚŝŶƚŚĞ ŝŶƐƚĂůůĂƚŝŽŶĂŶĚƌĞŵŽǀĂůŽĨĚĞǀŝĐĞƐĂŶĚƚŚĞĐƵƐƚŽŵĞƌƐŚĂůůƉĂLJZWhĨŽƌƚŚĞĂĐƚƵĂůĐŽƐƚƐƚŚĞƌĞŽĨ͘ Ϯ͘tŚĞŶZWhĚŽĞƐŶŽƚŚĂǀĞƐĞĐŽŶĚĂƌLJƐĞƌǀŝĐĞĂǀĂŝůĂďůĞĂƚƚŚĞĚĞǀŝĐĞůŽĐĂƚŝŽŶĂŶĚŝƚŝƐŶĞĐĞƐƐĂƌLJƚŽŝŶƐƚĂůůĂƚƌĂŶƐĨŽƌŵĞƌ ŽƌƚŽĞdžƚĞŶĚƐĞĐŽŶĚĂƌLJůŝŶĞƐĂĚŝƐƚĂŶĐĞŐƌĞĂƚĞƌƚŚĂŶϭϱϬĨĞĞƚ͕ƚŚĞĐƵƐƚŽŵĞƌƐŚĂůůƉĂLJZWhƚŚĞĂĐƚƵĂůĐŽƐƚƐĨŽƌ ŝŶƐƚĂůůŝŶŐƚŚĞƚƌĂŶƐĨŽƌŵĞƌĂŶĚͬŽƌŵĂŬŝŶŐƐƵĐŚůŝŶĞĞdžƚĞŶƐŝŽŶƐ͘ ϯ͘ZWhǁŝůůŵĂŬĞƚŚĞĐŽŶŶĞĐƚŝŽŶĂŶĚĚŝƐĐŽŶŶĞĐƚŝŽŶǁŝƚŚŝƚƐĚŝƐƚƌŝďƵƚŝŽŶůŝŶĞƐ͘ ϰ͘>ŽĂĚƐŽƚŚĞƌƚŚĂŶƚŚĞĚĞǀŝĐĞƐŚĂůůŶŽƚďĞĐŽŶŶĞĐƚĞĚƚŽƚŚĞĚĞǀŝĐĞΖƐĐŝƌĐƵŝƚ͘ ϱ͘dŚĞĐƵƐƚŽŵĞƌƐŚĂůůĨƵƌŶŝƐŚZWhǁŝƚŚĂŵĂƉŝŶĚŝĐĂƚŝŶŐƚŚĞůŽĐĂƚŝŽŶŽĨƐŝƌĞŶƐƚŽďĞŽƉĞƌĂƚĞĚĂŶĚƐŚĂůůŶŽƚŝĨLJZWhĂƚ ůĞĂƐƚϯϬĚĂLJƐŝŶĂĚǀĂŶĐĞŽĨƚŚĞƉůĂŶŶĞĚĂĚĚŝƚŝŽŶ͕ƌĞŵŽǀĂů͕ŽƌƌĞůŽĐĂƚŝŽŶŽĨĂŶLJƐŝƌĞŶ͘ ϲ͘ZWhƐŚĂůůŶŽƚďĞůŝĂďůĞĨŽƌĂŶLJĚĂŵĂŐĞŽƌůŽƐƐƐƵƐƚĂŝŶĞĚďLJĐƵƐƚŽŵĞƌƐƌĞƐƵůƚŝŶŐĨƌŽŵŝŶƚĞƌƌƵƉƚŝŽŶƐ͕ĚĞĨŝĐŝĞŶĐŝĞƐ͕Žƌ ŝŵƉĞƌĨĞĐƚŝŽŶƐŽĨƐĞƌǀŝĐĞƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( Zd^,h>Z ^,dϭK&ϭ >E/ZZ/Z WW>/d/KE͗ dŚĞůĞĂŶŝƌZŝĚĞƌ;ZͿǁŝůůďĞƵƐĞĚƚŽƌĞĐŽǀĞƌĐŽƐƚƐƌĞůĂƚĞĚƚŽƌĞŶĞǁĂďůĞĂŶĚĞŶǀŝƌŽŶŵĞŶƚĂůŝŵƉƌŽǀĞŵĞŶƚƉƌŽŐƌĂŵƐĂŶĚ ƉƌŽũĞĐƚƐĂƉƉƌŽǀĞĚďLJƚŚĞhƚŝůŝƚLJŽĂƌĚ͘ƉƉůŝĐĂďůĞƚŽĂůůƌĂƚĞĐůĂƐƐĞƐďŝůůĞĚŝŶŬtŚ͘ KE/d/KE^K&>/sZz͗ ϭ͘ŵŝƐƐŝŽŶZĞĚƵĐƚŝŽŶWƌŽũĞĐƚĂƚ^ŝůǀĞƌ>ĂŬĞWůĂŶƚ͗ Ă͘dŚĞZĨŽƌƚŚĞŵŝƐƐŝŽŶZĞĚƵĐƚŝŽŶWƌŽũĞĐƚ;ZWͿĂƚƚŚĞ^ŝůǀĞƌ>ĂŬĞWůĂŶƚŝƐƚŽƌĞĐŽǀĞƌƚŚĞĂŶŶƵĂůĚĞďƚ ƐĞƌǀŝĐĞŽĨƚŚĞƉƌŽũĞĐƚ͘ ď͘dŚĞZĨŽƌƚŚĞZWǁŝůůďĞĐĂůĐƵůĂƚĞĚďLJĚŝǀŝĚŝŶŐƚŚĞZWĚĞďƚƐĞƌǀŝĐĞƌĞƋƵŝƌĞŵĞŶƚƐďLJƚŚĞŬtŚĨŽƌĞĐĂƐƚ ĨŽƌĂůůƌĂƚĞĐůĂƐƐĞƐ͘ Đ͘dŚĞZǁŝůůƚĞƌŵŝŶĂƚĞĨŽƌƚŚĞZWǁŝƚŚƉĂLJŵĞŶƚŽĨĂůůĚĞďƚƐĞƌǀŝĐĞƌĞƋƵŝƌĞŵĞŶƚƐ͘ Ě͘ŶĂŶŶƵĂůƚƌƵĞͲƵƉǁŝůůďĞĚŽŶĞĐŽŵƉĂƌŝŶŐƚŚĞĂĐƚƵĂůĂŵŽƵŶƚĐŽůůĞĐƚĞĚƚŽƚŚĞĂĐƚƵĂůĚĞďƚƐĞƌǀŝĐĞ ƌĞƋƵŝƌĞŵĞŶƚ͘dŚĞĂŵŽƵŶƚŽǀĞƌŽƌƵŶĚĞƌĐŽůůĞĐƚĞĚǁŝůůĂĚũƵƐƚĨƵƚƵƌĞLJĞĂƌƐĚĞďƚƐĞƌǀŝĐĞƌĞƋƵŝƌĞŵĞŶƚƐƵƐĞĚŝŶ ƚŚĞĐĂůĐƵůĂƚŝŽŶ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( Zd^,h>^WW ^,dϭK&Ϯ ZK,^dZWh>/hd/>/d/^ K'EZd/KEE^D>>WKtZWZKhd/KEdZ/&& s/>/>/dz͗ LJƐĞƉĂƌĂƚĞǁƌŝƚƚĞŶĂŐƌĞĞŵĞŶƚŽŶůLJ͘ WW>/d/KE͗ dŽƌĞƐŝĚĞŶƚŝĂůĂŶĚŐĞŶĞƌĂůƐĞƌǀŝĐĞĐƵƐƚŽŵĞƌƐĐŽŶƚƌĂĐƚŝŶŐĨŽƌĞůĞĐƚƌŝĐƐĞƌǀŝĐĞĨŽƌŽŶĞLJĞĂƌŽƌŵŽƌĞ͕ǁŝƚŚĂůůƐĞƌǀŝĐĞƚĂŬĞŶĂƚŽŶĞ ƉŽŝŶƚĂŶĚǁŚĞƌĞƉĂƌƚŽƌĂůůŽĨƚŚĞĞůĞĐƚƌŝĐĂůƌĞƋƵŝƌĞŵĞŶƚƐŽĨƚŚĞĐƵƐƚŽŵĞƌĐĂŶďĞƐƵƉƉůŝĞĚďLJĐƵƐƚŽŵĞƌͲŽǁŶĞĚĞůĞĐƚƌŝĐĂů ŐĞŶĞƌĂƚŝŶŐĞƋƵŝƉŵĞŶƚǁŚŝĐŚŝƐĐŽŶŶĞĐƚĞĚĨŽƌŽƉĞƌĂƚŝŽŶŝŶƉĂƌĂůůĞůǁŝƚŚZWh͛ƐƐLJƐƚĞŵ͘ dŚŝƐƌĂƚĞƐĐŚĞĚƵůĞƌŝĚĞƌŝƐƚŽďĞĂƉƉůŝĞĚŝŶĐŽŶũƵŶĐƚŝŽŶǁŝƚŚƚŚĞĨŽůůŽǁŝŶŐƐĐŚĞĚƵůĞƐ͗ x ZĞƐŝĚĞŶƚŝĂů^ĞƌǀŝĐĞ;Z^Ϳ x ZĞƐŝĚĞŶƚŝĂůdKh^ĞƌǀŝĐĞ;Z^dKhͿ x'ĞŶĞƌĂů^ĞƌǀŝĐĞ;'^Ϳ x DĞĚŝƵŵ'ĞŶĞƌĂů^ĞƌǀŝĐĞ;D'^Ϳ x>ĂƌŐĞ'ĞŶĞƌĂů^ĞƌǀŝĐĞ;>'^Ϳ x>ĂƌŐĞ/ŶĚƵƐƚƌŝĂů^ĞƌǀŝĐĞ;>/^Ϳ x WŽǁĞƌŽƐƚĚũƵƐƚŵĞŶƚ;WͿ ,ZdZK&^Zs/͗ ^ŝŶŐůĞŽƌƚŚƌĞĞƉŚĂƐĞ͕ϲϬ,ĞƌƚnjĂůƚĞƌŶĂƚŝŶŐĐƵƌƌĞŶƚĂƚĂŶLJŽŶĞŽĨƚŚĞƐƚĂŶĚĂƌĚƐĞĐŽŶĚĂƌLJƐĞƌǀŝĐĞǀŽůƚĂŐĞƐĂƐĚĞƐĐƌŝďĞĚŝŶZWh͛Ɛ ƉƵďůŝƐŚĞĚĞůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐĂŶĚZĞŐƵůĂƚŝŽŶƐ͘ Zd͗ ĞŵĂŶĚŚĂƌŐĞ͗ dŚĞĚĞŵĂŶĚĐŚĂƌŐĞƐŚĂůůďĞĚĞƚĞƌŵŝŶĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞĂƉƉůŝĐĂďůĞƌĂƚĞƐĐŚĞĚƵůĞĂŶĚƐŚĂůůďĞĂƉƉůŝĞĚŝŶĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚƚŚĞƉƌŽǀŝƐŝŽŶƐŽĨWĂƌƚƐ>͕DĂŶĚWŽĨZƵůĞƐ'ŽǀĞƌŶŝŶŐƚŚĞ/ŶƚĞƌĐŽŶŶĞĐƚŝŽŶŽĨŽŐĞŶĞƌĂƚŝŽŶĂŶĚ^ŵĂůůWŽǁĞƌWƌŽĚƵĐƚŝŽŶ &ĂĐŝůŝƚŝĞƐǁŝƚŚZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚŝĞƐ͘ ŶĞƌŐLJŚĂƌŐĞ͗ dŚĞĞŶĞƌŐLJĐŚĂƌŐĞƐŚĂůůďĞĚĞƚĞƌŵŝŶĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞĂƉƉůŝĐĂďůĞƌĂƚĞƐĐŚĞĚƵůĞĂŶĚƐŚĂůůďĞĂƉƉůŝĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚ ƚŚĞƉƌŽǀŝƐŝŽŶƐ WĂƌƚƐ>͕D͕E͕KĂŶĚWŽĨZƵůĞƐ'ŽǀĞƌŶŝŶŐƚŚĞ/ŶƚĞƌĐŽŶŶĞĐƚŝŽŶŽĨŽŐĞŶĞƌĂƚŝŽŶĂŶĚ^ŵĂůůWŽǁĞƌWƌŽĚƵĐƚŝŽŶ &ĂĐŝůŝƚŝĞƐǁŝƚŚZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚŝĞƐ͘ 'ƌŝĚĐĐĞƐƐ&ĞĞ͗ ĨĨĞĐƚŝǀĞ:ĂŶƵĂƌLJϭ͕ϮϬϮϲ͕ĂŶĚĂƉƉůŝĐĂďůĞƚŽƌĞƐŝĚĞŶƚŝĂůĂŶĚŐĞŶĞƌĂůƐĞƌǀŝĐĞĚŝƐƚƌŝďƵƚĞĚŐĞŶĞƌĂƚŝŽŶĐƵƐƚŽŵĞƌƐ͕ǁŝƚŚƐLJƐƚĞŵƐŝnjĞ ŽĨůĞƐƐƚŚĂŶϰϬŬtƚŚĂƚĂƌĞŶŽƚƌĞƋƵŝƌĞĚƚŽƵƚŝůŝnjĞĂǀŽŝĚĞĚĐŽƐƚĂŶĚŶŽƚƐƵďũĞĐƚƚŽƚŚĞ͞ďƵLJĂůůʹƐĞůůĂůů͟ƉƌŽǀŝƐŝŽŶŝŶƚŚĞZWh ZƵůĞƐ'ŽǀĞƌŶŝŶŐƚŚĞ/ŶƚĞƌĐŽŶŶĞĐƚŝŽŶŽĨŽŐĞŶĞƌĂƚŝŽŶĂŶĚ^ŵĂůůWŽǁĞƌWƌŽĚƵĐƚŝŽŶ&ĂĐŝůŝƚŝĞƐǁŝƚŚZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚŝĞƐ͘ DŝŶŶĞƐŽƚĂ^ƚĂƚƵƚĞϮϭϲ͘ϭϲϰĂƵƚŚŽƌŝnjĞƐŵƵŶŝĐŝƉĂůƵƚŝůŝƚŝĞƐƚŽĐŚĂƌŐĞĂĐŽƐƚƌĞĐŽǀĞƌLJĨĞĞŽŶĚŝƐƚƌŝďƵƚĞĚŐĞŶĞƌĂƚŝŽŶĨĂĐŝůŝƚŝĞƐ͕ ĞŶĂďůŝŶŐƌĞĐŽǀĞƌLJŽĨƐŽŵĞŽĨƚŚĞĐŽƐƚƐŚŝĨƚƐƚŚĂƚŽĐĐƵƌďĞƚǁĞĞŶĚŝƐƚƌŝďƵƚĞĚŐĞŶĞƌĂƚŽƌƐĂŶĚƚŚĞƌĞƐƚŽĨƚŚĞƵƚŝůŝƚLJĐƵƐƚŽŵĞƌƐ͘ dŚĞŵŽŶƚŚůLJĐŚĂƌŐĞŝƐĂƉƉůŝĞĚƉĞƌƚŚĞŶĂŵĞƉůĂƚĞŬtŽĨƚŚĞŝŶƐƚĂůůĞĚŝŶǀĞƌƚĞƌ͘/ĨƚŚĞŶĂŵĞƉůĂƚĞƌĂƚŝŶŐŽĨƚŚĞĂƌƌĂLJŝƐůĞƐƐ ƚŚĂŶƚŚĞŝŶǀĞƌƚĞƌƌĂƚŝŶŐ͕ƚŚĞĂƉƉůŝĐĂďůĞ<tĨŽƌďŝůůŝŶŐƉƵƌƉŽƐĞƐǁŝůůďĞĐĂůĐƵůĂƚĞĚƉƌŽƉŽƌƚŝŽŶĂůůLJďĂƐĞĚŽŶƚŚĞ ŶĂŵĞƉůĂƚĞƌĂƚŝŶŐ͘ ϙ Zd͗ ϮϬϮϲϮϬϮϳ ZĞƐŝĚĞŶƚŝĂůDŽŶƚŚůLJŚĂƌŐĞƉĞƌŬt͗ΨϮ͘ϰϬΨϮ͘ϱϰ ^ŵĂůů'ĞŶĞƌĂů^ĞƌǀŝĐĞDŽŶƚŚůLJŚĂƌŐĞƉĞƌŬt͗ΨϮ͘ϯϭΨϮ͘ϰϱ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( ŽŶƚŝŶƵĞĚ͙ Zd^,h>^WW ^,dϮK&Ϯ ^ƚĂŶĚďLJŚĂƌŐĞ͗ dŚĞ^ƚĂŶĚďLJĐŚĂƌŐĞƐŚĂůůďĞĂƉƉůŝĐĂďůĞƚŽĐƵƐƚŽŵĞƌƐǁŝƚŚŶĞǁŽƌƌĞƉŽǁĞƌĞĚĐŽŐĞŶĞƌĂƚŝŽŶĨĂĐŝůŝƚŝĞƐǁŝƚŚĂƉůĂŶŶĞĚŚŝŐŚͲ ĐĂƉĂĐŝƚLJĨĂĐƚŽƌ͘dŚŝƐĐŚĂƌŐĞǁŝůůďĞďĂƐĞĚŽŶƚŚĞŶĂŵĞƉůĂƚĞĐĂƉĂĐŝƚLJŽĨƚŚĞŐĞŶĞƌĂƚŝŽŶĨĂĐŝůŝƚŝĞƐŝŶƐƚĂůůĞĚƉĞƌŬt͘tŚĞŶ ƐƚĂŶĚďLJƐĞƌǀŝĐĞŝƐƌĞƋƵŝƌĞĚ͕ĞŶĞƌŐLJĂŶĚĚĞŵĂŶĚǁŝůůďĞĐŚĂƌŐĞĚĂƚƚŚĞƌĂƚĞŽĨƚŚĞĂƉƉƌŽƉƌŝĂƚĞĐƵƐƚŽŵĞƌĐůĂƐƐ͘/ĨĂĨĂĐŝůŝƚLJƚŚĂƚŝƐ ƐƵďũĞĐƚƚŽĂƐƚĂŶĚďLJĐŚĂƌŐĞŝƐŽĨĨůŝŶĞĨŽƌĂŶĞdžƚĞŶĚĞĚƉĞƌŝŽĚŽĨƚŝŵĞƌĞƐƵůƚŝŶŐŝŶƚŚĞĐƵƐƚŽŵĞƌďĞŝŶŐĐŚĂƌŐĞĚĞŶĞƌŐLJĂŶĚ ĚĞŵĂŶĚĂƚƚŚĞĂƉƉƌŽƉƌŝĂƚĞĐƵƐƚŽŵĞƌĐůĂƐƐ͕ƚŚĞƵƚŝůŝƚLJŵĂLJĂĚũƵƐƚƚŚĞƐƚĂŶĚďLJĐŚĂƌŐĞĂƚŝƚƐƐŽůĞĚŝƐĐƌĞƚŝŽŶ͘ ϮϬϮϲϮϬϮϳ DŽŶƚŚůLJŽŐĞŶĞƌĂƚŝŽŶ^ƚĂŶĚďLJŚĂƌŐĞͬŬtĂĐΨϴ͘ϴϰͬŬtΨϵ͘ϯϳͬŬt DŝŶŝŵƵŵŚĂƌŐĞ͗ dŚĞŵŝŶŝŵƵŵĐŚĂƌŐĞƐŚĂůůďĞĚĞƚĞƌŵŝŶĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞĂƉƉůŝĐĂďůĞƌĂƚĞƐĐŚĞĚƵůĞĨŽƌĞĂĐŚĐƵƐƚŽŵĞƌĐůĂƐƐ͘ ŶĞƌŐLJĂŶĚĂƉĂĐŝƚLJƌĞĚŝƚƐ͗ dŚĞĞŶĞƌŐLJĂŶĚĐĂƉĂĐŝƚLJĐƌĞĚŝƚƐƐŚĂůůďĞĐĂůĐƵůĂƚĞĚĂŶĚĂƉƉƌŽǀĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚWĂƌƚŽĨZƵůĞƐ'ŽǀĞƌŶŝŶŐƚŚĞ /ŶƚĞƌĐŽŶŶĞĐƚŝŽŶŽĨŽŐĞŶĞƌĂƚŝŽŶĂŶĚ^ŵĂůůWŽǁĞƌWƌŽĚƵĐƚŝŽŶ&ĂĐŝůŝƚŝĞƐǁŝƚŚZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚŝĞƐĂŶĚƉƵďůŝƐŚĞĚĂŶŶƵĂůůLJĂƐ ^ĐŚĞĚƵůĞϭĂŶĚ^ĐŚĞĚƵůĞϮ͘dŚĞĞŶĞƌŐLJĂŶĚĐĂƉĂĐŝƚLJĐƌĞĚŝƚƐƐŚĂůůďĞĂƉƉůŝĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞƉƌŽǀŝƐŝŽŶƐŽĨWĂƌƚƐ>͕D͕E͕ KĂŶĚWŽĨZƵůĞƐ'ŽǀĞƌŶŝŶŐƚŚĞ/ŶƚĞƌĐŽŶŶĞĐƚŝŽŶŽĨŽŐĞŶĞƌĂƚŝŽŶĂŶĚ^ŵĂůůWŽǁĞƌWƌŽĚƵĐƚŝŽŶ&ĂĐŝůŝƚŝĞƐǁŝƚŚZŽĐŚĞƐƚĞƌWƵďůŝĐ hƚŝůŝƚŝĞƐ͘ WKtZK^d:h^dDEd͗ dŚĞĞŶĞƌŐLJĐƌĞĚŝƚĐŽŵƉƵƚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞƌŝĚĞƌŝƐƐƵďũĞĐƚƚŽĂWŽǁĞƌŽƐƚĚũƵƐƚŵĞŶƚ͘ WzDEd͗ WĂLJŵĞŶƚƐĂƌĞĚƵĞŽŶŽƌďĞĨŽƌĞƚŚĞĚƵĞĚĂƚĞ͘ KE/d/KE^K&>/sZz͗ ϭ͘^ĞƌǀŝĐĞĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞƌŝĚĞƌŝƐƐƵďũĞĐƚƚŽĂƉƉůŝĐĂďůĞƉƌŽǀŝƐŝŽŶƐŽĨZWh͛ƐƉƵďůŝƐŚĞĚZƵůĞƐ'ŽǀĞƌŶŝŶŐ ƚŚĞ/ŶƚĞƌĐŽŶŶĞĐƚŝŽŶŽĨŽŐĞŶĞƌĂƚŝŽŶĂŶĚ^ŵĂůůWŽǁĞƌWƌŽĚƵĐƚŝŽŶ&ĂĐŝůŝƚŝĞƐǁŝƚŚZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚŝĞƐ͘ Ϯ͘^ĞƌǀŝĐĞƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞƌŝĚĞƌǁŝůůďĞĨƵƌŶŝƐŚĞĚŽŶůLJƚŽĐƵƐƚŽŵĞƌƐǁŚŽƐĞĞůĞĐƚƌŝĐĂůŐĞŶĞƌĂƚŝŶŐĐĂƉĂĐŝƚLJŵĞĞƚ ƚŚĞƌĞƋƵŝƌĞŵĞŶƚƐĚŽĐƵŵĞŶƚĞĚŝŶZƵůĞƐ'ŽǀĞƌŶŝŶŐƚŚĞ/ŶƚĞƌĐŽŶŶĞĐƚŝŽŶŽĨŽŐĞŶĞƌĂƚŝŽŶĂŶĚ^ŵĂůůWŽǁĞƌWƌŽĚƵĐƚŝŽŶ &ĂĐŝůŝƚŝĞƐǁŝƚŚZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚŝĞƐ͖ƐƵĐŚƐĞƌǀŝĐĞŵĂLJďĞůŝŵŝƚĞĚĂƚƚŚĞƐŽůĞĚŝƐĐƌĞƚŝŽŶŽĨZWh͕ƚŽƚŚŽƐĞĐƵƐƚŽŵĞƌƐ ǁŚŽŽďƚĂŝŶ͞ƋƵĂůŝĨLJŝŶŐ͟ƐƚĂƚƵƐƵŶĚĞƌ&ZZĞŐƵůĂƚŝŽŶƐ;ϭϴ&ZWĂƌƚϮϵϮͿŝŵƉůĞŵĞŶƚŝŶŐƐĞĐƚŝŽŶϮϬϭŽĨƚŚĞWƵďůŝĐ hƚŝůŝƚLJZĞŐƵůĂƚŽƌLJWŽůŝĐŝĞƐĐƚŽĨϭϵϳϴ͘ ϯ͘^ĞƌǀŝĐĞƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞƌŝĚĞƌǁŝůůďĞĨƵƌŶŝƐŚĞĚŽŶůLJĂĨƚĞƌƚŚĞĐƵƐƚŽŵĞƌĂŶĚZWhŚĂǀĞĞŶƚĞƌĞĚŝŶƚŽĂƐĞƉĂƌĂƚĞ ǁƌŝƚƚĞŶĂŐƌĞĞŵĞŶƚǁŚŝĐŚƐƉĞĐŝĨŝĞƐƚŚĞƚLJƉĞŽĨŵĞƚĞƌŝŶŐĂŶĚŝŶƚĞƌĐŽŶŶĞĐƚŝŽŶĨĂĐŝůŝƚŝĞƐƚŽďĞĞŵƉůŽLJĞĚ͕ƚŚĞ ƌĞƐƉŽŶƐŝďŝůŝƚŝĞƐĨŽƌŝŶƐƚĂůůĂƚŝŽŶ͕ŽǁŶĞƌƐŚŝƉ͕ĂŶĚŵĂŝŶƚĞŶĂŶĐĞŽĨƚŚĞƐĞĨĂĐŝůŝƚŝĞƐ͕ĂŶĚƚŚĞƉƌŽĐĞĚƵƌĞƐƌĞƋƵŝƌĞĚĨŽƌƐĂĨĞ ĂŶĚƚĞĐŚŶŝĐĂůůLJĂĐĐĞƉƚĂďůĞŽƉĞƌĂƚŝŽŶŽĨƉĂƌĂůůĞůĞůĞĐƚƌŝĐĂůŐĞŶĞƌĂƚŝŶŐĞƋƵŝƉŵĞŶƚ͘ ϰ͘ZWhƐŚĂůůŶŽƚďĞůŝĂďůĞĨŽƌĂŶLJĚĂŵĂŐĞŽƌůŽƐƐƐƵƐƚĂŝŶĞĚďLJĐƵƐƚŽŵĞƌƐƌĞƐƵůƚŝŶŐĨƌŽŵƚŚĞƉĂƌĂůůĞůŽƉĞƌĂƚŝŽŶŽĨƚŚĞ ĐƵƐƚŽŵĞƌ͛ƐĞůĞĐƚƌŝĐĂůŐĞŶĞƌĂƚŝŶŐĞƋƵŝƉŵĞŶƚ͕ŽƌƌĞƐƵůƚŝŶŐĨƌŽŵŝŶƚĞƌƌƵƉƚŝŽŶƐ͕ĚĞĨŝĐŝĞŶĐŝĞƐ͕ŽƌŝŵƉĞƌĨĞĐƚŝŽŶƐŽĨƐĞƌǀŝĐĞ ƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞƌŝĚĞƌ͘ ϱ͘ŶĞƌŐLJĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞƌŝĚĞƌƐŚĂůůŶŽƚďĞƌĞƐŽůĚ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( Zd^,h>sͲdKh ^,dϭK&ϭ >dZ/s,/>,Z'/E'd/DͲK&Ͳh^Zd s/>/>/dz͗ ǀĂŝůĂďůĞƚŽZĞƐŝĚĞŶƚŝĂů^ĞƌǀŝĐĞƵƐƚŽŵĞƌƐĨŽƌƐĞƌǀŝĐĞŽŶůLJƚŽĞůĞĐƚƌŝĐǀĞŚŝĐůĞůŽĂĚƐŝŶĐůƵĚŝŶŐďĂƚƚĞƌLJĐŚĂƌŐŝŶŐĂŶĚĂĐĐĞƐƐŽƌLJ ƵƐĂŐĞ͘ƵƐƚŽŵĞƌŵƵƐƚƉƌŽǀŝĚĞZWhĂƉƉƌŽǀĞĚĚŽĐƵŵĞŶƚĂƚŝŽŶǀĞƌŝĨLJŝŶŐƉŽƐƐĞƐƐŝŽŶƚŚƌŽƵŐŚŽǁŶĞƌƐŚŝƉŽƌůĞĂƐĞŽĨĂŶĞůĞĐƚƌŝĐ ǀĞŚŝĐůĞĂƐĚĞĨŝŶĞĚŝŶ^ĞĐƚŝŽŶϭϲϵ͘ϬϭϭƐƵďĚŝǀŝƐŝŽŶϮϲĂŽĨDŝŶŶĞƐŽƚĂůĂǁ͘ZWhƌĞƐĞƌǀĞƐƚŚĞƌŝŐŚƚƚŽůŝŵŝƚďŽƚŚƚŚĞŶƵŵďĞƌŽĨ ĐƵƐƚŽŵĞƌƐĂŶĚƚŚĞĂŵŽƵŶƚŽĨůŽĂĚƚĂŬĞŶƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞ͘ WW>/d/KE͗ dŽĞůĞĐƚƌŝĐƐĞƌǀŝĐĞƌĞƋƵŝƌĞĚĨŽƌůĞĐƚƌŝĐsĞŚŝĐůĞƐŝŶŝŶĚŝǀŝĚƵĂůƉƌŝǀĂƚĞĚǁĞůůŝŶŐƐĂŶĚŝŶŝŶĚŝǀŝĚƵĂůůLJŵĞƚĞƌĞĚĂƉĂƌƚŵĞŶƚƐǁŚĞƌĞ ƐƵĐŚƐĞƌǀŝĐĞŝƐƐƵƉƉůŝĞĚĂƚŽŶĞƉŽŝŶƚŽĨĚĞůŝǀĞƌLJĂŶĚŵĞĂƐƵƌĞĚƚŚƌŽƵŐŚŽŶĞŵĞƚĞƌǁŝƚŚĂƐĞĐŽŶĚŵĞƚĞƌƚŽŵĞĂƐƵƌĞsͲdKh ĐŽŶƐƵŵƉƚŝŽŶ͘ZĞƐŝĚĞŶƚŝĂůƵƐƚŽŵĞƌŚĂƌŐĞǁŝůůďĞďŝůůĞĚĂƚƚŚĞĂƉƉƌŽƉƌŝĂƚĞZĞƐŝĚĞŶƚŝĂůƌĂƚĞĨŽƌƚŚĞĨŝƌƐƚŵĞƚĞƌǁŝƚŚĂŶ ĂĚĚŝƚŝŽŶĂůsͲdKhƵƐƚŽŵĞƌŚĂƌŐĞĨŽƌƚŚĞƐĞĐŽŶĚŵĞƚĞƌ͘ŬtŚƵƐĂŐĞŵĞĂƐƵƌĞĚƚŚƌŽƵŐŚƚŚĞƐĞĐŽŶĚŵĞƚĞƌǁŝůůďĞďŝůůĞĚĂƚƚŚĞ sͲdKhƌĂƚĞĂŶĚĞdžĐůƵĚĞĚĨƌŽŵƚŚĞŵĂŝŶŵĞƚĞƌ͛ƐŵĞĂƐƵƌĞŵĞŶƚŽĨŬtŚ͘ ,ZdZK&^Zs/͗ ^ŝŶŐůĞƉŚĂƐĞ͕ϲϬ,Ğƌƚnj͕ϭϮϬͬϮϰϬǀŽůƚƐĂůƚĞƌŶĂƚŝŶŐĐƵƌƌĞŶƚ͘ Zd͗ ϮϬϮϲϮϬϮϳ ĚĚŝƚŝŽŶĂůƵƐƚŽŵĞƌŚĂƌŐĞ;ĨŽƌƐĞĐŽŶĚŵĞƚĞƌͿ͗Ψϵ͘ϬϰΨϵ͘ϲϱ ŶĞƌŐLJŚĂƌŐĞ͗ EŽŶͲ^ƵŵŵĞƌŶĞƌŐLJ͗ KŶͲƉĞĂŬŶĞƌŐLJͬŬtŚϮϬ͘ϰϲϱΪϮϭ͘ϴϲϵΪ KĨĨͲƉĞĂŬŶĞƌŐLJͬŬtŚϴ͘ϮϵϱΪϴ͘ϴϲϰΪ ^ƵŵŵĞƌŶĞƌŐLJ͗ KŶͲƉĞĂŬŶĞƌŐLJͬŬtŚϮϴ͘ϯϯϯΪϯϬ͘ϮϳϲΪ KĨĨͲƉĞĂŬŶĞƌŐLJͬŬtŚϴ͘ϮϵϱΪϴ͘ϴϲϰΪ ĞĨŝŶŝƚŝŽŶŽĨ^ĞĂƐŽŶ͗^ƵŵŵĞƌŵŽŶƚŚƐĂƌĞ:ƵŶĞƚŚƌŽƵŐŚ^ĞƉƚĞŵďĞƌ͘ EŽŶͲƐƵŵŵĞƌŵŽŶƚŚƐĂƌĞ:ĂŶƵĂƌLJƚŚƌŽƵŐŚDĂLJ ĂŶĚKĐƚŽďĞƌƚŚƌŽƵŐŚĞĐĞŵďĞƌ͘ ĞĨŝŶŝƚŝŽŶŽĨ KŶͲWĞĂŬŶĞƌŐLJ͗ůůĞŶĞƌŐLJƵƐĞĚďLJƚŚĞĐƵƐƚŽŵĞƌďĞƚǁĞĞŶƚŚĞŚŽƵƌƐŽĨ ϴ͗ϬϬĂ͘ŵ͘ĂŶĚϭϬ͗ϬϬƉ͘ŵ͘;ϭϰŚŽƵƌƐͿDŽŶĚĂLJƚŚƌŽƵŐŚ&ƌŝĚĂLJ͘ ĞĨŝŶŝƚŝŽŶŽĨ KĨĨͲWĞĂŬŶĞƌŐLJ͗ůůĞŶĞƌŐLJƵƐĞĚďLJƚŚĞĐƵƐƚŽŵĞƌĨŽƌĂůůŽƚŚĞƌŚŽƵƌƐ͕ ŝŶĐůƵĚŝŶŐǁĞĞŬĞŶĚƐĂŶĚŚŽůŝĚĂLJƐ͘ KĨĨͲƉĞĂŬ ŚŽůŝĚĂLJƐ͗EĞǁzĞĂƌƐĂLJ͕DĞŵŽƌŝĂůĂLJ͕/ŶĚĞƉĞŶĚĞŶĐĞĂLJ͕>ĂďŽƌĂLJ͕ dŚĂŶŬƐŐŝǀŝŶŐĂLJ͕ĂŶĚŚƌŝƐƚŵĂƐĂLJ͘ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( ŽŶƚŝŶƵĞĚ͙ Zd^,h>sͲdKh ^,dϮK&Ϯ WKtZK^d:h^dDEd͗ ŝůůƐĐŽŵƉƵƚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞĂƌĞƐƵďũĞĐƚƚŽĂĚũƵƐƚŵĞŶƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞWŽǁĞƌŽƐƚĚũƵƐƚŵĞŶƚ;WͿ͘ D/E/DhD/>> ϮϬϮϲϮϬϮϳ WĞƌDŽŶƚŚ;ĨŽƌƐĞĐŽŶĚŵĞƚĞƌͿ͗Ψϵ͘ϬϰΨϵ͘ϰϱ WzDEd WĂLJŵĞŶƚƐĂƌĞĚƵĞŽŶŽƌďĞĨŽƌĞƚŚĞĚƵĞĚĂƚĞ͘ KE/d/KE^K&>/sZz͗ ϭ͘^ĞƌǀŝĐĞĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞŝƐƐƵďũĞĐƚƚŽĂƉƉůŝĐĂďůĞƉƌŽǀŝƐŝŽŶƐŽĨZWhΖƐƉƵďůŝƐŚĞĚůĞĐƚƌŝĐ^ĞƌǀŝĐĞZƵůĞƐ ĂŶĚZĞŐƵůĂƚŝŽŶƐ͘ Ϯ͘ZWhƐŚĂůůŶŽƚďĞůŝĂďůĞĨŽƌĂŶLJĚĂŵĂŐĞŽƌůŽƐƐƐƵƐƚĂŝŶĞĚďLJĐƵƐƚŽŵĞƌƐƌĞƐƵůƚŝŶŐĨƌŽŵŝŶƚĞƌƌƵƉƚŝŽŶƐ͕ĚĞĨŝĐŝĞŶĐŝĞƐ͕Žƌ ŝŵƉĞƌĨĞĐƚŝŽŶƐŽĨƐĞƌǀŝĐĞƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞ͘ ϯ͘ŶĞƌŐLJĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐŚĂůůŶŽƚďĞƌĞƐŽůĚ͘ ϰ͘^ĞƌǀŝĐĞƵŶĚĞƌƚŚŝƐƌĂƚĞǁŝůůďĞŵĂĚĞĂǀĂŝůĂďůĞĂƚƚŚĞŽƉƚŝŽŶŽĨƚŚĞƌĞƐŝĚĞŶƚŝĂůƐĞƌǀŝĐĞĐƵƐƚŽŵĞƌ͕ƐƵďũĞĐƚƚŽƚŚĞ ĂǀĂŝůĂďŝůŝƚLJŽĨƚŚĞŶĞĐĞƐƐĂƌLJƚŝŵĞͲŽĨͲƵƐĞŵĞƚĞƌŝŶŐĞƋƵŝƉŵĞŶƚ͘ ϱ͘ĐƵƐƚŽŵĞƌŵĂLJĐĂŶĐĞůƉĂƌƚŝĐŝƉĂƚŝŽŶŝŶƚŚŝƐƌĂƚĞƉƌŽǀŝĚŝŶŐƚŚĞĐƵƐƚŽŵĞƌŐŝǀĞƐZWhĂƚůĞĂƐƚϰϱĚĂLJƐ͛ŶŽƚŝĐĞ͘ ϲ͘dŚŝƐƚĂƌŝĨĨƌĞƋƵŝƌĞƐƚŚĞƵƐĞŽĨŵĞƚĞƌŝŶŐƚĞĐŚŶŽůŽŐLJĐĂƉĂďůĞŽĨďĞŝŶŐƌĞĂĚƵƐŝŶŐĂƵƚŽŵĂƚĞĚĞƋƵŝƉŵĞŶƚ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( Zd^,h>>/Eyd ^,dϭK&ϭ >/EydE^/KE^ s/>/>/dz͗ ǀĂŝůĂďůĞƚŽĂůůĐƵƐƚŽŵĞƌƐĂŶĚĚĞǀĞůŽƉĞƌƐŝŶZWh͛Ɛ^ĞƌǀŝĐĞdĞƌƌŝƚŽƌLJ͘ WW>/d/KE͗ dŚĞZƵůĞƐĂŶĚƌĂƚĞƐĨŽƌ>ŝŶĞdžƚĞŶƐŝŽŶƐŝŶƚŚŝƐƐĐŚĞĚƵůĞĂƉƉůLJƚŽĂůůĞdžŝƐƚŝŶŐĂŶĚƉƌŽƐƉĞĐƚŝǀĞĐƵƐƚŽŵĞƌƐƌĞƋƵĞƐƚŝŶŐŶĞǁůŝŶĞ ĞdžƚĞŶƐŝŽŶƐŽƌĐŚĂŶŐĞƐŽĨĞdžŝƐƚŝŶŐƐĞƌǀŝĐĞǁŝƚŚŝŶƐƵďĚŝǀŝƐŝŽŶƐ͘ Zd͗ ϮϬϮϲϮϬϮϳ ZĞƐŝĚĞŶƚŝĂůΨϭ͕ϰϬϬΨϭ͕ϰϴϱͬ^ƚĂŶĚĂƌĚ^ĞƌǀŝĐĞΎΎΎ ŽŵŵĞƌĐŝĂů͕/ŶĚƵƐƚƌŝĂůĂŶĚ DƵůƚŝͲ&ĂŵŝůLJ,ŽƵƐŝŶŐ /ŶƐƚĂůůĞĚdƌĂŶƐĨŽƌŵĞƌĂƉĂĐŝƚLJ hƉƚŽϮϱŬsΨϭ͕ϲϴϬΨϭ͕ϳϴϬͬ^ƚĂŶĚĂƌĚ^ĞƌǀŝĐĞΎ ϮϱŬsƵƉƚŽϭϬ͕ϬϬϬŬsdŽƚĂůĐŽƐƚŽĨ^ƚĂŶĚĂƌĚ^ĞƌǀŝĐĞůĞƐƐĂĐƌĞĚŝƚŽĨ ΨϲϯͬŬsŽĨŝŶƐƚĂůůĞĚƚƌĂŶƐĨŽƌŵĞƌĂƉĂĐŝƚLJΎΎ ďŽǀĞϭϬ͕ϬϬϬŬsĂŶĚͬŽƌ EŽŶͲ^ƚĂŶĚĂƌĚ^ĞƌǀŝĐĞEĞŐŽƚŝĂƚĞĚ Ύ^ŝŶŐůĞWŚĂƐĞ^ĞƌǀŝĐĞŝƐĂƐƐƵŵĞĚ͘/ĨƚŚƌĞĞƉŚĂƐĞƐĞƌǀŝĐĞŝƐƌĞƋƵĞƐƚĞĚ͕ƚŚĞĐƵƐƚŽŵĞƌŵƵƐƚĂůƐŽƉĂLJƚŚĞĚŝĨĨĞƌĞŶĐĞďĞƚǁĞĞŶƚŚƌĞĞ ƉŚĂƐĞĂŶĚƐŝŶŐůĞƉŚĂƐĞƐĞƌǀŝĐĞ͘/ĨƚŚĞĂĐƚƵĂů>ŝŶĞdžƚĞŶƐŝŽŶĐŽƐƚĞdžĐĞĞĚƐΨϱ͕ϬϬϬ͘ϬϬƉĞƌůŽƚ͕ƚŚĞ>ŝŶĞdžƚĞŶƐŝŽŶĐŚĂƌŐĞǁŝůůďĞ ŶĞŐŽƚŝĂƚĞĚ͘ ΎΎ/ŶĐĂƐĞƐǁŚĞƌĞƚŚĞŝŶƐƚĂůůĞĚƚƌĂŶƐĨŽƌŵĞƌĐƌĞĚŝƚŽĨĨƐĞƚƐƚŚĞƚŽƚĂůĐŽƐƚŽĨƚŚĞ^ƚĂŶĚĂƌĚ^ĞƌǀŝĐĞ͕ŶŽĂĚĚŝƚŝŽŶĂůĂŵŽƵŶƚǁŝůůďĞ ĐŚĂƌŐĞĚ͘ ΎΎΎ&ŽƌƚŚĞƉƵƌƉŽƐĞƐŽĨƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞ͕^ƚĂŶĚĂƌĚZĞƐŝĚĞŶƚŝĂů^ĞƌǀŝĐĞŝƐĐŽŶƐŝĚĞƌĞĚƚŽďĞĂƐŝŶŐůĞůŽƚŽƌƐŝŶŐůĞƐƚƌƵĐƚƵƌĞǁŝƚŚ ƚŚƌĞĞŽƌĨĞǁĞƌĚǁĞůůŝŶŐƵŶŝƚƐ͘/ĨƚŚĞĂĐƚƵĂů>ŝŶĞdžƚĞŶƐŝŽŶĐŽƐƚĞdžĐĞĞĚƐΨϱ͕ϬϬϬ͘ϬϬƉĞƌůŽƚ͕ƚŚĞ>ŝŶĞdžƚĞŶƐŝŽŶĐŚĂƌŐĞǁŝůůďĞ ŶĞŐŽƚŝĂƚĞĚ͘ WzDEd͗ WĂLJŵĞŶƚƐŵƵƐƚďĞƌĞĐĞŝǀĞĚďĞĨŽƌĞǁŽƌŬŽŶƚŚĞůŝŶĞĞdžƚĞŶƐŝŽŶŽƌĞŶŚĂŶĐĞŵĞŶƚǁŝůůďĞŐŝŶ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( Zd^,h> ^,dϭK&Ϯ KEKD/s>KWDEdZ/dͲůŽƐĞĚ s/>/>/dz͗ dŽĂůůƋƵĂůŝĨLJŝŶŐĐŽŵŵĞƌĐŝĂůŽƌŝŶĚƵƐƚƌŝĂůĐƵƐƚŽŵĞƌƐǁŝƚŚŝŶƚŚĞZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚŝĞƐ;ZWhͿ^ĞƌǀŝĐĞdĞƌƌŝƚŽƌLJ͘ WW>//>/dz͗ ƵƐƚŽŵĞƌƐƚĂŬŝŶŐƐĞƌǀŝĐĞƵŶĚĞƌƐĐŚĞĚƵůĞƐD'^͕D'^Ͳ,&͕D'^ͲdKh͕>'^͕Žƌ>/^ƚŚĂƚŵĞĞƚƚŚĞĨŽůůŽǁŝŶŐĐƌŝƚĞƌŝĂŵĂLJďĞĞůŝŐŝďůĞ ĨŽƌĂŶĞĐŽŶŽŵŝĐĚĞǀĞůŽƉŵĞŶƚĞŶĞƌŐLJĐƌĞĚŝƚ͗ x EĞǁĐŽŵŵĞƌĐŝĂůŽƌŝŶĚƵƐƚƌŝĂůĐƵƐƚŽŵĞƌƐǁŝƚŚĂůŽĂĚŽĨϮϱϬŬtŽƌŐƌĞĂƚĞƌ xdžŝƐƚŝŶŐĐŽŵŵĞƌĐŝĂůŽƌŝŶĚƵƐƚƌŝĂůĐƵƐƚŽŵĞƌƐǁŝƚŚĂƚůĞĂƐƚƚǁĞůǀĞŵŽŶƚŚƐŽĨďŝůůŝŶŐŚŝƐƚŽƌLJĂĚĚŝŶŐŶĞǁŝŶĐƌĞŵĞŶƚĂů ĐŽŶŶĞĐƚĞĚůŽĂĚŽĨϮϱϬŬtŽƌŐƌĞĂƚĞƌ͘ xdžŝƐƚŝŶŐĐŽŵŵĞƌĐŝĂůŽƌŝŶĚƵƐƚƌŝĂůĐƵƐƚŽŵĞƌƐŝŶĞĐŽŶŽŵŝĐĚŝƐƚƌĞƐƐƚŚĂƚŚĂǀĞůĞŐŝƚŝŵĂƚĞŽƉƉŽƌƚƵŶŝƚŝĞƐƚŽŵŽǀĞ ŽƉĞƌĂƚŝŽŶƐŽƵƚŽĨZWh͛ƐƐĞƌǀŝĐĞƚĞƌƌŝƚŽƌLJǁŝƚŚĂƚŽƚĂůůŽĂĚĂĐƌŽƐƐĂůůĨĂĐŝůŝƚŝĞƐůŽĐĂƚĞĚǁŝƚŚŝŶƚŚĞZWhƐĞƌǀŝĐĞƚĞƌƌŝƚŽƌLJ ŽĨϭ͕ϬϬϬŬt Yh>/&/d/KE^͗ x dŚĞĐƵƐƚŽŵĞƌŵƵƐƚŚĂǀĞƌĞĐĞŝǀĞĚŶŽůĞƐƐƚŚĂŶΨϮϱ͕ϬϬϬŝŶůŽĐĂů͕ĐŽƵŶƚLJ͕^ƚĂƚĞŽĨDŝŶŶĞƐŽƚĂĂŶĚͬŽƌĨĞĚĞƌĂůĨŝŶĂŶĐŝĂů ĂƐƐŝƐƚĂŶĐĞĨŽƌĞĐŽŶŽŵŝĐĚĞǀĞůŽƉŵĞŶƚŽƌĞĐŽŶŽŵŝĐƐƚŝŵƵůƵƐ͘ x&ŽƌůŽĂĚƌĞƚĞŶƚŝŽŶ͕ƚŚĞĐƵƐƚŽŵĞƌŵƵƐƚŚĂǀĞƌĞĐĞŝǀĞĚΨϱϬ͕ϬϬϬŝŶůŽĐĂů͕ĐŽƵŶƚLJ͕^ƚĂƚĞŽĨDŝŶŶĞƐŽƚĂĂŶĚͬŽƌĨĞĚĞƌĂů ĨŝŶĂŶĐŝĂůĂƐƐŝƐƚĂŶĐĞĨŽƌĞĐŽŶŽŵŝĐĚĞǀĞůŽƉŵĞŶƚĂƐƐŝƐƚĂŶĐĞǁŝƚŚŝŶƚŚĞϮϰŵŽŶƚŚƐƉƌŝŽƌƚŽĂƉƉůLJŝŶŐĨŽƌƚŚŝƐƌĂƚĞ͘ x dŚĞĐƵƐƚŽŵĞƌŵƵƐƚƐŝŐŶĂŶĂĨĨŝĚĂǀŝƚĂƚƚĞƐƚŝŶŐƚŽƚŚĞĨĂĐƚƚŚĂƚ͞ďƵƚĨŽƌ͟ƚŚĞƌĂƚĞĐƌĞĚŝƚƐ͕ĞŝƚŚĞƌŽŶƚŚĞŝƌŽǁŶŽƌŝŶ ĐŽŵďŝŶĂƚŝŽŶǁŝƚŚĂƉĂĐŬĂŐĞŽĨĞĐŽŶŽŵŝĐĚĞǀĞůŽƉŵĞŶƚŽƌũŽďĐƌĞĂƚŝŽŶŝŶĐĞŶƚŝǀĞƐĨƌŽŵůŽĐĂů͕ĐŽƵŶƚLJ͕^ƚĂƚĞŽĨ DŝŶŶĞƐŽƚĂ͕ĂŶĚͬŽƌĨĞĚĞƌĂůƉƌŽŐƌĂŵƐƚŚĞĐƵƐƚŽŵĞƌǁŽƵůĚŶŽƚŚĂǀĞůŽĐĂƚĞĚŽƉĞƌĂƚŝŽŶƐ͕ĂĚĚĞĚůŽĂĚŽƌǁŽƵůĚŚĂǀĞ ƐŝŐŶŝĨŝĐĂŶƚůLJƌĞĚƵĐĞĚŝƚƐĞŶĞƌŐLJĐŽŶƐƵŵƉƚŝŽŶŽƌƐŚƵƚĚŽǁŶŝƚƐĨĂĐŝůŝƚŝĞƐŝŶƚŚĞZWhƐĞƌǀŝĐĞƚĞƌƌŝƚŽƌLJ͘ x dŚĞĐƵƐƚŽŵĞƌŵƵƐƚŵĞĞƚĂůůĐŽŶĚŝƚŝŽŶƐƐĞƚĨŽƌƚŚďLJƚŚĞŝƚLJŽĨZŽĐŚĞƐƚĞƌĨŽƌĞĐŽŶŽŵŝĐĚĞǀĞůŽƉŵĞŶƚĂƐƐŝƐƚĂŶĐĞ͘ x EŽĐƌĞĚŝƚŝƐĂǀĂŝůĂďůĞƚŽĐƵƐƚŽŵĞƌƐŽƌƉŽƚĞŶƚŝĂůĐŽŵŵĞƌĐŝĂůŽƌŝŶĚƵƐƚƌŝĂůĐƵƐƚŽŵĞƌƐƚƌĂŶƐĨĞƌƌŝŶŐůŽĂĚĨƌŽŵĂĐŝƚLJƚŚĂƚŝƐ ĂĐƵƌƌĞŶƚŵĞŵďĞƌŽĨƚŚĞ^ŽƵƚŚĞƌŶDŝŶŶĞƐŽƚĂDƵŶŝĐŝƉĂůWŽǁĞƌŐĞŶĐLJ͘ x dŚĞĐƵƐƚŽŵĞƌŵƵƐƚŵĞĞƚǁŝƚŚZWhĂŶĚƌĞǀŝĞǁƚŚĞĞŶĞƌŐLJĞĨĨŝĐŝĞŶĐLJƉƌŽŐƌĂŵŽƉƉŽƌƚƵŶŝƚŝĞƐĂǀĂŝůĂďůĞƉƌŝŽƌƚŽĂƉƉƌŽǀĂů ŽĨƚŚĞĂƉƉůŝĐĂƚŝŽŶĨŽƌƚŚĞĐƌĞĚŝƚ͘ Yh>/&z/E'>K͗ x EĞǁ>ŽĂĚ RůůĞůĞĐƚƌŝĐůŽĂĚĨƌŽŵƚŚĞĐƵƐƚŽŵĞƌ͛ƐŶĞǁĨĂĐŝůŝƚŝĞƐƐĞƌǀĞĚďLJZWhƋƵĂůŝĨŝĞƐĂƐŶĞǁůŽĂĚ͘ R/ĨĂƋƵĂůŝĨLJŝŶŐĐƵƐƚŽŵĞƌĨĂůůƐďĞůŽǁƚŚĞĚĞƐŝŐŶĂƚĞĚĚĞŵĂŶĚĂŶĚͬŽƌĞŶĞƌŐLJĐŽŶƐƵŵƉƚŝŽŶůĞǀĞů͕ƚŚĞĐƵƐƚŽŵĞƌ ǁŝůůŶŽůŽŶŐĞƌƋƵĂůŝĨLJĨŽƌĂŶLJĨƵƌƚŚĞƌĐƌĞĚŝƚƐǁŝƚŚŝŶƚŚĞĨŝǀĞͲLJĞĂƌƚĞƌŵ͘ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( ŽŶƚŝŶƵĞĚ͙ Zd^,h> ^,dϮK&Ϯ Yh>/&z/E'>K;ĐŽŶƚŝŶƵĞĚͿ x/ŶĐƌĞŵĞŶƚĂů>ŽĂĚ R&ŽƌŝŶĐƌĞŵĞŶƚĂůůŽĂĚ͕ƚŚĞďĂƐĞůĞǀĞůŽĨůŽĂĚŝƐƚŚĞĐƵƐƚŽŵĞƌ͛ƐƉĞĂŬĚĞŵĂŶĚĂŶĚĞŶĞƌŐLJĐŽŶƐƵŵƉƚŝŽŶĨŽƌƚŚĞ ƚǁĞůǀĞŵŽŶƚŚƐƉƌŝŽƌƚŽĂĚĚŝŶŐƚŚĞŶĞǁůŽĂĚ͘ /ĨƚŚĞĐƵƐƚŽŵĞƌ͛ƐĞŶĞƌŐLJĐŽŶƐƵŵƉƚŝŽŶĨŽƌĂŵŽŶƚŚŝŶƚŚĞĐƵƌƌĞŶƚLJĞĂƌĞdžĐĞĞĚƐƚŚĞĐƵƐƚŽŵĞƌ͛Ɛ ĞŶĞƌŐLJĐŽŶƐƵŵƉƚŝŽŶĨŽƌƚŚĞƐĂŵĞŵŽŶƚŚŽĨƚŚĞďĂƐĞLJĞĂƌ͕ƚŚĞĂĚĚŝƚŝŽŶĂůŬŝůŽǁĂƚƚͲŚŽƵƌƐĂƌĞ ŝŶĐƌĞŵĞŶƚĂůůŽĂĚƚŚĂƚƋƵĂůŝĨŝĞƐĨŽƌƚŚĞĐƌĞĚŝƚ͘ dŚĞĐƵƐƚŽŵĞƌŶĞĞĚŶŽƚŚĂǀĞŝŶĐƌĞŵĞŶƚĂůĞŶĞƌŐLJƵƐĞĞǀĞƌLJŵŽŶƚŚŽĨƚŚĞLJĞĂƌ͕ďƵƚĂƚƚŚĞĞŶĚŽĨ ĞĂĐŚϭϮͲ ŵŽŶƚŚƉĞƌŝŽĚƚŚĞĐƵƐƚŽŵĞƌ͛ƐĞŶƚŝƌĞƚǁĞůǀĞŵŽŶƚŚĞŶĞƌŐLJƵƐĞŵƵƐƚĞdžĐĞĞĚƚŚĞďĂƐĞůĞǀĞů ĂŶĚƚŚĞĐƵƐƚŽŵĞƌŵƵƐƚŵĞĞƚƚŚĞŵŝŶŝŵƵŵŝŶĐƌĞŵĞŶƚĂůƉĞĂŬĚĞŵĂŶĚƌĞƋƵŝƌĞŵĞŶƚƐŝŶĂƚůĞĂƐƚ ŽŶĞŚŽƵƌŽĨƚŚĞĨŝƌƐƚƚǁĞůǀĞŵŽŶƚŚƉĞƌŝŽĚ͘ R/ĨĂƋƵĂůŝĨLJŝŶŐĐƵƐƚŽŵĞƌĨĂůůƐďĞůŽǁƚŚĞĚĞƐŝŐŶĂƚĞĚĚĞŵĂŶĚĂŶĚͬŽƌĞŶĞƌŐLJĐŽŶƐƵŵƉƚŝŽŶůĞǀĞů͕ƚŚĞĐƵƐƚŽŵĞƌ ǁŝůůŶŽůŽŶŐĞƌƋƵĂůŝĨLJĨŽƌĂŶLJĨƵƌƚŚĞƌĐƌĞĚŝƚƐǁŝƚŚŝŶƚŚĞĨŝǀĞͲLJĞĂƌƚĞƌŵ͘ x>ŽĂĚZĞƚĞŶƚŝŽŶ R ZWhǁŝůůĚĞƐŝŐŶĂƚĞŚŽǁŵƵĐŚůŽĂĚƋƵĂůŝĨŝĞƐĨŽƌƚŚĞĐƌĞĚŝƚďĂƐĞĚŽŶƚŚĞĨĂĐƚƐĂŶĚĐŝƌĐƵŵƐƚĂŶĐĞƐƌĞůĂƚĞĚƚŽ ƚŚĞĐƵƐƚŽŵĞƌ͘ R/ĨĂƋƵĂůŝĨLJŝŶŐĐƵƐƚŽŵĞƌĨĂůůƐďĞůŽǁƚŚĞĚĞƐŝŐŶĂƚĞĚĚĞŵĂŶĚĂŶĚͬŽƌĞŶĞƌŐLJĐŽŶƐƵŵƉƚŝŽŶůĞǀĞů͕ƚŚĞĐƵƐƚŽŵĞƌ ǁŝůůŶŽůŽŶŐĞƌƋƵĂůŝĨLJĨŽƌĂŶLJĨƵƌƚŚĞƌĐƌĞĚŝƚƐǁŝƚŚŝŶƚŚĞĨŝǀĞͲLJĞĂƌƚĞƌŵ͘ Z/d^͗ x dŚĞĐƌĞĚŝƚǁŝůůĂƉƉůLJƚŽĂůůƋƵĂůŝĨLJŝŶŐŶĞǁ͕ŝŶĐƌĞŵĞŶƚĂůŽƌƌĞƚĂŝŶĞĚůŽĂĚƚĂŬĞŶƵŶĚĞƌĂƉƉůŝĐĂďůĞƌĂƚĞƐĐŚĞĚƵůĞƐ͘dŚĞ ĐŽŶŽŵŝĐĞǀĞůŽƉŵĞŶƚZĂƚĞƌĞĚŝƚĨŽƌĐƵƐƚŽŵĞƌƐďĞŐŝŶŶŝŶŐƉĂƌƚŝĐŝƉĂƚŝŽŶŽŶŽƌĂĨƚĞƌDĂƌĐŚϭ͕ϮϬϮϭ͕ƐŚĂůůďĞĂƉƉůŝĞĚ ƚŽƚŚĞǁŚŽůĞƐĂůĞĞŶĞƌŐLJĐŚĂƌŐĞĂƚĂƌĂƚĞŽĨ͗ R ϰϬйŽĨĂůůƋƵĂůŝĨLJŝŶŐĞŶĞƌŐLJĐŚĂƌŐĞƐŝŶLJĞĂƌŽŶĞ R ϮϬйŽĨĂůůƋƵĂůŝĨLJŝŶŐĞŶĞƌŐLJĐŚĂƌŐĞƐŝŶLJĞĂƌƚǁŽ R ϭϬйŽĨĂůůƋƵĂůŝĨLJŝŶŐĞŶĞƌŐLJĐŚĂƌŐĞƐŝŶLJĞĂƌƚŚƌĞĞ R ϱйŽĨĂůůƋƵĂůŝĨLJŝŶŐĞŶĞƌŐLJĐŚĂƌŐĞƐŝŶLJĞĂƌĨŽƵƌ R Ϯ͘ϱйŽĨĂůůƋƵĂůŝĨLJŝŶŐĞŶĞƌŐLJĐŚĂƌŐĞƐŝŶLJĞĂƌĨŝǀĞ R EŽĐƌĞĚŝƚďĞŐŝŶŶŝŶŐŝŶLJĞĂƌƐŝdž x dŚĞĐƌĞĚŝƚůĞǀĞůƐůŝƐƚĞĚĂďŽǀĞǁŝůůďĞŝŶĞĨĨĞĐƚĨŽƌƚŚĞĨƵůůĨŝǀĞͲLJĞĂƌƚĞƌŵĨŽƌĐƵƐƚŽŵĞƌƐĐŽŵŵĞŶĐŝŶŐƉĂƌƚŝĐŝƉĂƚŝŽŶŽŶŽƌ ďĞĨŽƌĞDĂƌĐŚϭ͕ϮϬϮϭ͘ xƌĞĚŝƚƐǁŝůůďĞĐĂůĐƵůĂƚĞĚĂŶĚĂƉƉůŝĞĚďĂƐĞĚŽŶĞŶĞƌŐLJĐŽŶƐƵŵƉƚŝŽŶŝŶƚŚĞĐƵƌƌĞŶƚďŝůůŝŶŐŵŽŶƚŚ͘ DKEd,>z&/y,Z'͗ ĨŝdžĞĚĐŚĂƌŐĞŽĨΨϭϴϱ͘ϬϬƉĞƌŵŽŶƚŚǁŝůůďĞĂƉƉůŝĞĚĚƵƌŝŶŐƚŚĞƚĞƌŵŽĨƚŚŝƐƌĂƚĞƚŽĐŽǀĞƌŽŶͲŐŽŝŶŐĂĚŵŝŶŝƐƚƌĂƚŝǀĞĐŽƐƚƐ͘dŚĞ ŵŽŶƚŚůLJĨŝdžĞĚĐŚĂƌŐĞŝƐƐƵďũĞĐƚƚŽĐŚĂŶŐĞĂŶŶƵĂůůLJďĂƐĞĚŽŶZWhůĂďŽƌƌĂƚĞĐŚĂŶŐĞƐĂƉƉƌŽǀĞĚĚƵƌŝŶŐƚŚĞĂŶŶƵĂůďƵĚŐĞƚ ƉƌŽĐĞƐƐ͘ dZD͗ YƵĂůŝĨLJŝŶŐĐƵƐƚŽŵĞƌƐǁŝůůďĞĞůŝŐŝďůĞĨŽƌĐŽŶŽŵŝĐĞǀĞůŽƉŵĞŶƚƌĞĚŝƚƐĨŽƌĂĨŝǀĞͲLJĞĂƌƉĞƌŝŽĚ x&ŽƌŶĞǁĐƵƐƚŽŵĞƌƐ͕ƚŚĞĐƌĞĚŝƚƐǁŝůůďĞŐŝŶŽŶƚŚĞĨŝƌƐƚĚĂLJŽĨƚŚĞĨŝƌƐƚĨƵůůŵŽŶƚŚĂĨƚĞƌĂƉĂƌƚŝĐŝƉĂƚŝŶŐŶĞǁĐƵƐƚŽŵĞƌ ďĞŐŝŶƐƚĂŬŝŶŐƐĞƌǀŝĐĞĂŶĚŵĞĞƚƐƚŚĞĚĞŵĂŶĚƌĞƋƵŝƌĞŵĞŶƚƐ͘ x&ŽƌŝŶĐƌĞŵĞŶƚĂůůŽĂĚ͕ƚŚĞĐƌĞĚŝƚƐǁŝůůďĞŐŝŶŽŶƚŚĞĨŝƌƐƚĚĂLJŽĨƚŚĞĨŝƌƐƚĨƵůůŵŽŶƚŚĂĨƚĞƌƚŚĞĞƋƵŝƉŵĞŶƚĚƌŝǀŝŶŐ ŝŶĐƌĞŵĞŶƚĂůůŽĂĚŝƐŝŶƐƚĂůůĞĚĂŶĚŵĞĞƚƐƚŚĞŵŝŶŝŵƵŵŝŶĐƌĞŵĞŶƚĂůĚĞŵĂŶĚƌĞƋƵŝƌĞŵĞŶƚƐ͘ x&ŽƌƌĞƚĂŝŶĞĚůŽĂĚ͕ƚŚĞĐƌĞĚŝƚƐǁŝůůďĞŐŝŶŽŶƚŚĞĚĂƚĞƐƉĞĐŝĨŝĞĚďLJZWh͘ DdZ/E'͗ ZWhƌĞƐĞƌǀĞƐƚŚĞƌŝŐŚƚƚŽŝŵƉŽƐĞĂŽŶĞͲƚŝŵĞĐŚĂƌŐĞŽŶƉĂƌƚŝĐŝƉĂƚŝŶŐĐŽŵŵĞƌĐŝĂůŽƌŝŶĚƵƐƚƌŝĂůĐƵƐƚŽŵĞƌƐĨŽƌĂŶLJŶĞǁĂŶĚͬŽƌ ĂĚĚŝƚŝŽŶĂůŵĞƚĞƌŝŶŐŝŶĨƌĂƐƚƌƵĐƚƵƌĞƌĞƋƵŝƌĞĚƚŽŵĞĂƐƵƌĞƋƵĂůŝĨLJŝŶŐůŽĂĚĂŶĚĞŶĞƌŐLJ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗:ĂŶƵĂƌLJϮϲ͕ϮϬϮϭ ĨĨĞĐƚŝǀĞĂƚĞ͗DĂƌĐŚϭ͕ϮϬϮϭ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( D/^>>EKh^&^ ^,dϭK&Ϯ D/^>>EKh^&^ʹ>dZ/hd/>/dz ƉƉůŝĐĂďůĞƚŽůůŚĂƌŐĞƐĂŶĚŵŽƵŶƚƐƵĞŽŶZWh/ŶǀŽŝĐĞƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ EŽƚ^ƵĨĨŝĐŝĞŶƚ&ƵŶĚƐ;E^&ͿŚĞĐŬ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϯϬ͘ϬϬ ŽƉŝĞƐ ůĂĐŬΘǁŚŝƚĞ͕ƐŝŶŐůĞƐŝĚĞ͕ƉĞƌƉĂŐĞ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϬ͘Ϯϱ ůĂĐŬΘǁŚŝƚĞ͕ĚƵƉůĞdž͕ƉĞƌƉĂŐĞ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϬ͘ϱϬ ŽůŽƌ͕ƐŝŶŐůĞƐŝĚĞ͕ƉĞƌƉĂŐĞ;ĨƌŽŵĐŽůŽƌƉƌŝŶƚĞƌ͕ŶŽƚĐŽƉŝĞƌͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϬ͘ϯϱ ,ŽƵƐĞDŽǀĞ/ŶǀĞƐƚŝŐĂƚŝŽŶ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϯϱϬ͘ϬϬ /ŶĨƌĂǀŝĞǁ^ĞƌǀŝĐĞ;WĞƌ,ŽƵƌͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϭϮϬ͘ϬϬ DĞƚĞƌŽŶŶĞĐƚŝŽŶƐĨƚĞƌ,ŽƵƌƐ͗ tŽƌŬĚĂLJƐ͕ϱ͗ϬϬWDͲϵ͗ϬϬWD͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϳϱ͘ϬϬ tŽƌŬĚĂLJƐ͕ϵ͗ϬϬWDʹϴ͗ϬϬD͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϭϲϬ͘ϬϬ EŽŶͲtŽƌŬĚĂLJƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϭϲϬ͘ϬϬ ,ŽůŝĚĂLJƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϭϲϬ͘ϬϬ DĞƚĞƌdĂŵƉĞƌŝŶŐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϮϰϬ͘ϬϬ DĞƚĞƌ^ĞƌǀŝĐĞĂůů͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϳϬ͘ϬϬ DĞƚĞƌdĞƐƚʹZĞƐŝĚĞŶƚŝĂů;ϮƌĞƋƵĞƐƚǁŝƚŚŝŶƚŚĞƉĂƐƚϭϮŵŽŶƚŚƐͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϭϬϬ͘ϬϬ ŶĚ DĞƚĞƌdĞƐƚʹŽŵŵĞƌĐŝĂů;ϮƌĞƋƵĞƐƚǁŝƚŚŝŶƚŚĞƉĂƐƚϭϮŵŽŶƚŚƐͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϮϭϬ͘ϬϬ ŶĚ EŽŶͲWĂLJŝƐĐŽŶŶĞĐƚŝŽŶͬZĞĐŽŶŶĞĐƚŝŽŶ;tŽƌŬĚĂLJƐ͕ϴ͗ϬϬDͲϱ͗ϬϬWDͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϳϬ͘ϬϬ ;ĚĚŝƚŝŽŶĂůƌĞĐŽŶŶĞĐƚŝŽŶĨĞĞƐĂƉƉůLJĨŽƌĂĨƚĞƌͲŚŽƵƌƐƌĞĐŽŶŶĞĐƚŝŽŶƐͿ KƵƚĂŐĞĂůů;dŚĞƉƌŽďůĞŵŝƐǁŝƚŚƚŚĞĐƵƐƚŽŵĞƌ͛ƐĞƋƵŝƉŵĞŶƚ͕ ĂŶĚƚŚŝƐŝƐƚŚĞƐĞĐŽŶĚƌĞƋƵĞƐƚǁŝƚŚŝŶƚŚĞƉĂƐƚƚǁĞůǀĞŵŽŶƚŚƐ͘Ϳ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϭϬϬ͘ϬϬ WŽůĞŝƐĐŽŶŶĞĐƚŝŽŶͬZĞĐŽŶŶĞĐƚŝŽŶ;ŽŵŵĞƌĐŝĂůͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϮϵϱ͘ϬϬ WŽůĞŝƐĐŽŶŶĞĐƚŝŽŶͬZĞĐŽŶŶĞĐƚŝŽŶ;ZĞƐŝĚĞŶƚŝĂůͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϮϭϬ͘ϬϬ dĞŵƉŽƌĂƌLJDĞƚĞƌ/ŶƐƚĂůůĂƚŝŽŶ&ĞĞ;ZĞƐŝĚĞŶƚŝĂůͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϭϬϬ͘ϬϬ dĞŵƉŽƌĂƌLJDĞƚĞƌ/ŶƐƚĂůůĂƚŝŽŶ&ĞĞ;ŽŵŵĞƌĐŝĂůͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϳϲϬ͘ϬϬ /ŶƚĞƌĐŽŶŶĞĐƚŝŽŶ&ĞĞƐ ƉƉůŝĐĂƚŝŽŶ&ĞĞƐ͗WƌŽĐĞƐƐdƌĂĐŬ ^ŝŵƉůŝĨŝĞĚ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϭϬϬ͘ϬϬ &ĂƐƚdƌĂĐŬĞƌƚŝĨŝĞĚ^LJƐƚĞŵ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϭϬϬ͘ϬϬнΨϭ͘ϬϬͬŬt &ĂƐƚdƌĂĐŬEŽŶͲĞƌƚŝĨŝĞĚ^LJƐƚĞŵ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϭϬϬ͘ϬϬнΨϮ͘ϬϬͬŬt ϮϬϮϲ ϮϬϮϳ ĚŵŝŶŝƐƚƌĂƚŝǀĞ&ĞĞ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϰϭϲ͘ϬϬΨϰϰϭ͘ϬϬ WƌĞͲƉƉůŝĐĂƚŝŽŶZĞƉŽƌƚ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϯϬϬ͘ϬϬ ^ƚƵĚLJŽǁŶWĂLJŵĞŶƚ;ĚĚŝƚŝŽŶĂůĨĞĞƐŵĂLJĂƉƉůLJͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϭ͕ϬϬϬ͘ϬϬнΨϮ͘ϬϬͬŬt dĞƐƚŝŶŐĞƌƚŝĨŝĞĚ^LJƐƚĞŵ͗ ϰϬŬtŽƌůĞƐƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘EŽ&ĞĞ ϰϬŬtƚŽϭDt͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϯϬϬ͘ϬϬ 'ƌĞĂƚĞƌƚŚĂŶϭDt͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ĐƚƵĂůŽƐƚ DĞƚĞƌŝŶŐ&ĞĞ EĞƚDĞƚĞƌĞĚhŶĚĞƌϰϬŬt͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘EŽ&ĞĞ EŽƚEĞƚDĞƚĞƌĞĚ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ĐƚƵĂůŽƐƚ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( ŽŶƚŝŶƵĞĚ͙ D/^>>EKh^&^ ^,dϮK&Ϯ WŽůĞƚƚĂĐŚŵĞŶƚ&ĞĞƐ EŽŶͲƌĞĨƵŶĚĂďůĞĚŵŝŶŝƐƚƌĂƚŝǀĞ&ĞĞ;&ŽƌŶĞǁ:ŽŝŶƚhƐĞŐƌĞĞŵĞŶƚƐͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϭϬ͕ϬϬϬ͘ϬϬ WĞƌŵŝƚZĞǀŝĞǁ;&ŽƌĂůůŶĞǁĂƚƚĂĐŚŵĞŶƚƐƵƉƚŽϮϬϬƉŽůĞƐͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϮϬϬ͘ϬϬнΨϱϬ͘ϬϬͬWŽůĞ ŶŶƵĂůƚƚĂĐŚŵĞŶƚ&ĞĞ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϮϯ͘ϳϲͬĂƚƚĂĐŚŵĞŶƚ hŶĂƵƚŚŽƌŝnjĞĚƚƚĂĐŚŵ ĞŶƚ͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯdžŶŶƵĂůƚƚĂĐŚŵĞŶƚ&ĞĞ &ĂŝůƵƌĞƚŽdŝŵĞůLJdƌĂŶƐĨĞƌ͕ďĂŶĚŽŶ͕ŽƌZĞŵŽǀĞ&ĂĐŝůŝƚŝĞƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϱ͘ϬϬͬWŽůĞƉĞƌĚĂLJ ;&ĞĞƐƚĂƌƚƐĚĂLJĨŽůůŽǁŝŶŐĚĞĂĚůŝŶĞŝŶǁƌŝƚƚĞŶŶŽƚŝĐĞͿ dĞůĞĐŽŵŵŚĂƌŐĞƐ DĂĐƌŽ^ŝƚĞ&ĞĞƐ ƐĐƌŽǁ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϳ͕ϴϱϬ͘ϬϬ EŽŶͲƌĞĨƵŶĚĂďůĞƉƉůŝĐĂƚŝŽŶĨĞĞƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϭ͕ϱϬϬ͘ϬϬ ^ŵĂůůĞůů&ĞĞƐ͗;&ŽƌĂůůĂŐƌĞĞŵĞŶƚƐĞdžĞĐƵƚĞĚĂĨƚĞƌ:ĂŶƵĂƌLJϭ͕ϮϬϮϭͿ EŽŶͲƌĞĨƵŶĚĂďůĞDĂƐƚĞƌŐƌĞĞŵĞŶƚ&ĞĞ͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϱ͕ϬϬϬ͘ϬϬ ^ƵƉƉůĞŵĞŶƚ>ŝĐĞŶƐĞ&ĞĞ;ƵƉƚŽϱŶŽĚĞƐͿ͗͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϱϬϬ͘ϬϬ ĚĚŝƚŝŽŶĂůŶŽĚĞƐ;ŽǀĞƌϱͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϭϬϬ͘ϬϬͬŶŽĚĞ ϮϬϮϲϮϬϮϳ ZĞŶƚƉĞƌƉƌĞŵŝƐĞ;ŶŶƵĂůͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϮϴϲ͘ϰϰϮϵϱ͘Ϭϰ ;ϯйĞƐĐĂůĂƚŽƌͿ ŽŶǀĞŶŝĞŶĐĞ&ĞĞ;ƉĞƌĐĂƌĚƉĂLJŵĞŶƚŽŶhƚŝůŝƚLJďŝůůͿ ZĞƐŝĚĞŶƚŝĂů͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϮ͘ϵϱ ŽŵŵĞƌĐŝĂů͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϭϱ͘ϵϱ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗KĐƚŽďĞƌϮϭ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( DŝƐĐĞůůĂŶĞŽƵƐ&ĞĞƐ ^ĞƌǀŝĐĞƐƐƵƌĞĚΠ ^,dϭK&ϭ ^Zs/^^hZΠhƚŝůŝƚLJ^ĞƌǀŝĐĞZĞƉĂŝƌŽǀĞƌĂŐĞ s/>/>/dz͗ ŽǀĞƌĂŐĞŝƐĂǀĂŝůĂďůĞƚŽZWhƌĞƐŝĚĞŶƚŝĂůůĞĐƚƌŝĐĐƵƐƚŽŵĞƌƐůŝǀŝŶŐŝŶƐŝŶŐůĞͲĨĂŵŝůLJŚŽŵĞƐ͕ƐŝŶŐůĞͲŽǁŶĞƌĚƵƉůĞdžĞƐ͕ĂŶĚƐŽŵĞ ƚŽǁŶŚŽŵĞĂƐƐŽĐŝĂƚŝŽŶƐ͕ŝŶĚŝǀŝĚƵĂůƚǁŝŶŚŽŵĞƐ͕ĂŶĚƚƌŝƉůĞdžĞƐǁŚĞƌĞĞĂĐŚŚĂƐŝƚƐŽǁŶƐĞƌǀŝĐĞůŝŶĞ͘ůĞĐƚƌŝĐ^ĞƌǀŝĐĞ ƐƐƵƌĞĚΠǁŝůůďĞĂƉƉůŝĞĚƚŽĂůůůĞĐƚƌŝĐ^ĞƌǀŝĐĞĐƵƐƚŽŵĞƌƐĞĨĨĞĐƚŝǀĞ:ĂŶƵĂƌLJϭ͕ϮϬϮϱ͘ƵƐƚŽŵĞƌƐǁŝƐŚŝŶŐƚŽŶŽƚƌĞĐĞŝǀĞ^ĞƌǀŝĐĞ ƐƐƵƌĞĚΠƉƌŽƚĞĐƚŝŽŶŵĂLJŽƉƚŽƵƚďLJĐĂůůŝŶŐƚŚĞZWh^ĞƌǀŝĐĞĞŶƚĞƌƚŽƌĞƋƵĞƐƚƌĞŵŽǀĂůĨƌŽŵƚŚĞƉƌŽŐƌĂŵ͘ƵƐƚŽŵĞƌƐŵĂLJ ƌĞƋƵĞƐƚƚŽŚĂǀĞƚŚĞŝƌǁĂƚĞƌƐĞƌǀŝĐĞƉƌŽƚĞĐƚĞĚƵŶĚĞƌƚŚĞtĂƚĞƌ^ĞƌǀŝĐĞƐƐƵƌĞĚΠƉƌŽŐƌĂŵǁŝƚŚŽƵƚƚŚĞůĞĐƚƌŝĐ^ĞƌǀŝĐĞƐƐƵƌĞĚΠ ƉƌŽŐƌĂŵ͕ŽƌŝŶĐŽŵďŝŶĂƚŝŽŶǁŝƚŚƚŚĞůĞĐƚƌŝĐ^ĞƌǀŝĐĞƐƐƵƌĞĚΠƉƌŽŐƌĂŵ͘ KE/d/KE^K&^Zs/͗ ŽŶĚŝƚŝŽŶƐŽĨ^ĞƌǀŝĐĞǁŝůůďĞŐŽǀĞƌŶĞĚďLJƚŚĞ^ĞƌǀŝĐĞƐƐƵƌĞĚΠdĞƌŵƐĂŶĚŽŶĚŝƚŝŽŶƐŐƌĞĞŵĞŶƚ͘ DKEd,>zZd͗ ŵŽƵŶƚ ƵƐƚŽŵĞƌŚĂƌŐĞ͗ tĂƚĞƌ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϭ͘ϵϵ ůĞĐƚƌŝĐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϭ͘ϵϵ tĂƚĞƌĂŶĚůĞĐƚƌŝĐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϯ͘ϬϬ WzDEd͗ WĂLJŵĞŶƚƐĂƌĞĚƵĞŽŶŽƌďĞĨŽƌĞƚŚĞĚƵĞĚĂƚĞ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗KĐƚŽďĞƌϮϵ͕ϮϬϮϰ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϱ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( Zd^,h>tdZͲ ^,dϭK&ϭ tdZ^Zs/ s/>/>/dz͗ ƚĂůůůŽĐĂƚŝŽŶƐǁŝƚŚŝŶƚŚĞZŽĐŚĞƐƚĞƌŝƚLJůŝŵŝƚƐĂŶĚĂƚůŽĐĂƚŝŽŶƐĞdžƚĞƌŶĂůƚŽƚŚĞŝƚLJůŝŵŝƚƐ͕ƚŚĂƚŚĂǀĞďĞĞŶĂƵƚŚŽƌŝnjĞĚďLJƚŚĞ ZŽĐŚĞƐƚĞƌŽŵŵŽŶŽƵŶĐŝů͘ DKEd,>zZd͗ ϮϬϮϲϮϬϮϳ ^ŝnjĞŽĨDĞƚĞƌŵŽƵŶƚŵŽƵŶƚ ƵƐƚŽŵĞƌŚĂƌŐĞ͗ ϱͬϴ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͟ΨϭϮ͘ϳϱΨϭϯ͘ϳϭ ϯͬϰΗ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϭϲ͘ϲϱΨϭϳ͘ϵϬ ϭΗ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϮϰ͘ϭϵΨϮϲ͘ϬϬ ϭͲϭͬϮΗ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϰϯ͘ϰϰΨϰϲ͘ϳϬ ϮΗ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϲϲ͘ϱϵΨϳϭ͘ϱϴ ϯΗ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϭϮϬ͘ϴϴΨϭϮϵ͘ϵϱ ϰΗ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϭϵϴ͘ϮϳΨϮϭϯ͘ϭϰ ϲΗ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϯϵϮ͘ϮϬΨϰϮϭ͘ϲϮ ϴΗ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϲϵϳ͘ϴϳΨϳϱϬ͘Ϯϭ ŽŵŵŽĚŝƚLJŚĂƌŐĞZĂƚĞͬ&͗ ZĞƐŝĚĞŶƚŝĂůϬͲϳ&͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϭ͘ϭϲϲΨϭ͘Ϯϵϭ ϳ͘ϬϭͲϭϮ&͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϭ͘ϯϬϭΨϭ͘ϰϲϰ ϭϮ͘ϬϭĂŶĚŽǀĞƌ&͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϭ͘ϰϴϲΨϭ͘ϲϴϯ ŽŵŵĞƌĐŝĂů͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϭ͘ϭϳϮΨϭ͘ϯϬϰ /ŶĚƵƐƚƌŝĂů͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϭ͘ϭϳϮΨϭ͘ϯϬϰ /ŶƚĞƌĚĞƉĂƌƚŵĞŶƚĂů͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϭ͘ϭϳϮΨϭ͘ϯϬϰ /ƌƌŝŐĂƚŝŽŶDĞƚĞƌ;ůůůĂƐƐĞƐͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϭ͘ϰϴϲΨϭ͘ϲϴϯ EKd͗ƵƐƚŽŵĞƌƐǁŚŽƐĞƐĞƌǀŝĐĞŝƐƚĂŬĞŶŽƵƚƐŝĚĞƚŚĞZŽĐŚĞƐƚĞƌĐŝƚLJůŝŵŝƚƐǁŝƚŚŝŶĚŝǀŝĚƵĂůǁĂƚĞƌƐLJƐƚĞŵƐŶŽƚĐŽŶŶĞĐƚĞĚƚŽƚŚĞ ŝƚLJǁĂƚĞƌƐLJƐƚĞŵƐŚĂůůŚĂǀĞĂƌĂƚĞŽĨϮ͘ϬƚŝŵĞƐƚŚĞĐƵƐƚŽŵĞƌĂŶĚĐŽŵŵŽĚŝƚLJĐŚĂƌŐĞƐ͘ D/E/DhD/>>͗ ƉƉůŝĐĂďůĞŵŽŶƚŚůLJĐƵƐƚŽŵĞƌĐŚĂƌŐĞĂĐĐŽƌĚŝŶŐƚŽƐŝnjĞŽĨŵĞƚĞƌƉƌŽǀŝĚĞĚ͘ WzDEd͗ WĂLJŵĞŶƚƐĂƌĞĚƵĞŽŶŽƌďĞĨŽƌĞƚŚĞĚƵĞĚĂƚĞ͘ KE/d/KE^K&>/sZz͗ ϭ͘^ĞƌǀŝĐĞĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞŝƐƐƵďũĞĐƚƚŽĐŽŶŶĞĐƚŝŽŶƉŽůŝĐŝĞƐŽĨƚŚĞZŽĐŚĞƐƚĞƌŝƚLJŽƵŶĐŝů͘ Ϯ͘^ĞƌǀŝĐĞĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐĐŚĞĚƵůĞŝƐƐƵďũĞĐƚƚŽƉƌŽǀŝƐŝŽŶƐŽĨZWhΖƐtĂƚĞƌ^ĞƌǀŝĐĞZƵůĞƐĂŶĚZĞŐƵůĂƚŝŽŶƐ͘ ϯ͘ZWhƐŚĂůůŶŽƚďĞůŝĂďůĞĨŽƌĚĂŵĂŐĞŽƌůŽƐƐƐƵƐƚĂŝŶĞĚďLJĐƵƐƚŽŵĞƌƐŝŶĐŽŶũƵŶĐƚŝŽŶǁŝƚŚƚĂŬŝŶŐƐĞƌǀŝĐĞƵŶĚĞƌƚŚŝƐƌĂƚĞ͘ ϰ͘tĂƚĞƌĨƵƌŶŝƐŚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞƐŚĂůůŶŽƚďĞƌĞƐŽůĚ͘ ϱ͘dŚŝƐƚĂƌŝĨĨĂƐƐƵŵĞƐƵƐĞŽĨŵĞƚĞƌŝŶŐƚĞĐŚŶŽůŽŐLJĐĂƉĂďůĞŽĨďĞŝŶŐƌĞĂĚƵƐŝŶŐĂƵƚŽŵĂƚĞĚĞƋƵŝƉŵĞŶƚ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( DŝƐĐĞůůĂŶĞŽƵƐ&ĞĞƐ ^ĞƌǀŝĐĞƐƐƵƌĞĚΠ ^,dϭK&ϭ ^Zs/^^hZΠ s/>/>/dz͗ ŽǀĞƌĂŐĞŝƐĂǀĂŝůĂďůĞƚŽZWhƌĞƐŝĚĞŶƚŝĂůǁĂƚĞƌĐƵƐƚŽŵĞƌƐůŝǀŝŶŐŝŶƐŝŶŐůĞͲĨĂŵŝůLJŚŽŵĞƐ͕ƐŝŶŐůĞͲŽǁŶĞƌĚƵƉůĞdžĞƐ͕ĂŶĚƐŽŵĞ ƚŽǁŶŚŽŵĞĂƐƐŽĐŝĂƚŝŽŶƐ͕ŝŶĚŝǀŝĚƵĂůƚǁŝŶŚŽŵĞƐ͕ĂŶĚƚƌŝƉůĞdžĞƐǁŚĞƌĞĞĂĐŚŚĂƐŝƚƐŽǁŶƐĞƌǀŝĐĞůŝŶĞ͘tĂƚĞƌ^ĞƌǀŝĐĞƐƐƵƌĞĚΠ ǁŝůůďĞĂƉƉůŝĞĚƚŽĂůůtĂƚĞƌ^ĞƌǀŝĐĞĐƵƐƚŽŵĞƌƐĞĨĨĞĐƚŝǀĞ:ĂŶƵĂƌLJϭ͕ϮϬϮϮ͘ƵƐƚŽŵĞƌƐǁŝƐŚŝŶŐƚŽŶŽƚƌĞĐĞŝǀĞ^ĞƌǀŝĐĞƐƐƵƌĞĚΠ ƉƌŽƚĞĐƚŝŽŶŵĂLJŽƉƚŽƵƚďLJĐĂůůŝŶŐƚŚĞZWh^ĞƌǀŝĐĞĞŶƚĞƌƚŽƌĞƋƵĞƐƚƌĞŵŽǀĂůĨƌŽŵƚŚĞƉƌŽŐƌĂŵ͘ƵƐƚŽŵĞƌƐŵĂLJƌĞƋƵĞƐƚƚŽŚĂǀĞ ƚŚĞŝƌĞůĞĐƚƌŝĐƐĞƌǀŝĐĞƉƌŽƚĞĐƚĞĚƵŶĚĞƌƚŚĞůĞĐƚƌŝĐ^ĞƌǀŝĐĞƐƐƵƌĞĚΠƉƌŽŐƌĂŵǁŝƚŚŽƵƚƚŚĞtĂƚĞƌ^ĞƌǀŝĐĞƐƐƵƌĞĚΠƉƌŽŐƌĂŵ͕ŽƌŝŶ ĐŽŵďŝŶĂƚŝŽŶǁŝƚŚƚŚĞtĂƚĞƌ^ĞƌǀŝĐĞƐƐƵƌĞĚΠƉƌŽŐƌĂŵ͘ KE/d/KE^K&^Zs/͗ ŽŶĚŝƚŝŽŶƐŽĨ^ĞƌǀŝĐĞǁŝůůďĞŐŽǀĞƌŶĞĚďLJƚŚĞ^ĞƌǀŝĐĞƐƐƵƌĞĚΠdĞƌŵƐĂŶĚŽŶĚŝƚŝŽŶƐŐƌĞĞŵĞŶƚ͘ DKEd,>zZd͗ ŵŽƵŶƚ ƵƐƚŽŵĞƌŚĂƌŐĞ͗ tĂƚĞƌ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϭ͘ϵϵ ůĞĐƚƌŝĐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϭ͘ϵϵ tĂƚĞƌĂŶĚůĞĐƚƌŝĐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϯ͘ϬϬ WzDEd͗ WĂLJŵĞŶƚƐĂƌĞĚƵĞŽŶŽƌďĞĨŽƌĞƚŚĞĚƵĞĚĂƚĞ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗KĐƚŽďĞƌϮϲ͕ϮϬϮϭ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϮ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( Zd^,h>&,& ^,dϭK&ϭ &/Z,zZEd&/>/d/^,Z' WW>//>/dz͗ dŽĂůůƌĞƐŝĚĞŶƚŝĂůĂŶĚĐŽŵŵĞƌĐŝĂůĂŶĚŝŶĚƵƐƚƌŝĂůǁĂƚĞƌƵƚŝůŝƚLJĐƵƐƚŽŵĞƌƐ͘ DKEd,>zZd͗ ƵƐƚŽŵĞƌůĂƐƐϮϬϮϲϮϬϮϳ ZĞƐŝĚĞŶƚŝĂůΨϭ͘ϭϱΨϭ͘ϭϵ ŽŵŵĞƌĐŝĂůͬ/ŶĚƵƐƚƌŝĂůΨϰ͘ϳϳΨϰ͘ϵϯ />>/E'^͗ ŝůůŝŶŐƐǁŝůůďĞŽŶĂŵŽŶƚŚůLJďĂƐŝƐ͘ WzDEd͗ WĂLJŵĞŶƚƐĂƌĞĚƵĞŽŶŽƌďĞĨŽƌĞƚŚĞĚƵĞĚĂƚĞ͘ KE/d/KE^K&>/sZz͗ ϭ͘ZWhƐŚĂůůŶŽƚďĞůŝĂďůĞĨŽƌĂŶLJĚĂŵĂŐĞŽƌůŽƐƐƐƵƐƚĂŝŶĞĚďLJĐƵƐƚŽŵĞƌƌĞƐƵůƚŝŶŐĨƌŽŵŝŶƚĞƌƌƵƉƚŝŽŶƐ͕ĚĞĨŝĐŝĞŶĐŝĞƐ͕Žƌ ŝŵƉĞƌĨĞĐƚŝŽŶƐŽĨƐĞƌǀŝĐĞƉƌŽǀŝĚĞĚƵŶĚĞƌƚŚŝƐƌĂƚĞ͘ Ϯ͘dŚĞƌĂƚĞǁŝůůŶŽƚďĞĂƉƉůŝĞĚƚŽǁĂƚĞƌƐĞƌǀŝĐĞŵĞƚĞƌƐƚŚĂƚĂƌĞƵƐĞĚĞdžĐůƵƐŝǀĞůLJĨŽƌŝƌƌŝŐĂƚŝŽŶƉƵƌƉŽƐĞƐ͘ ϯ͘dŚĞƌĂƚĞǁŝůůŶŽƚďĞĂƉƉůŝĞĚƚŽǁĂƚĞƌƐĞƌǀŝĐĞŵĞƚĞƌƐƚŚĂƚĂƌĞŶŽƚĐŽŶŶĞĐƚĞĚƚŽƚŚĞŝƚLJ͛ƐĐĞŶƚƌĂůǁĂƚĞƌƐLJƐƚĞŵ͘ ϰ͘dŚĞƌĂƚĞǁŝůůďĞĂƉƉůŝĞĚƌĞŐĂƌĚůĞƐƐŽĨƚŚĞƉƌŽƉĞƌƚLJ͛ƐǁĂƚĞƌƐĞƌǀŝĐĞƐƚĂƚƵƐ;ĂĐƚŝǀĞŽƌŶŽŶ ͲĂĐƚŝǀĞͿ͘ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 52&+(67(538%/,&87,/,7,(65$7(6&+('8/( D/^>>EKh^&^ ^,dϭK&ϭ D/^>>EKh^&^ʹtdZhd/>/dz ƉƉůŝĐĂďůĞƚŽůůŚĂƌŐĞƐĂŶĚŵŽƵŶƚƐƵĞŽŶZWh/ŶǀŽŝĐĞƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ EŽƚ^ƵĨĨŝĐŝĞŶƚ&ƵŶĚƐ;E^&ͿŚĞĐŬ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϯϬ͘ϬϬ ƵƌďŽdžKƉĞƌĂƚŝŽŶ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϲϬ͘ϬϬ &ƌŽnjĞŶDĞƚĞƌZĞƉĂŝƌ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϭϬϬ͘ϬϬ &ƌŽnjĞŶWŝƉĞƐ;WĞƌ,ŽƵƌ>ĂďŽƌͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϵϬ͘ϬϬ DĞƚĞƌ /ŶƐƚĂůůĂƚŝŽŶ&ĞĞ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϱϬ͘ϬϬ ZĞŵŽǀĂů&ĞĞ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϱϬ͘ϬϬ ,LJĚƌĂŶƚDĞƚĞƌZĞŶƚĂů &ůĂƚ&ĞĞĨŽƌ/ŶƐƚĂůůĂƚŝŽŶĂŶĚZĞƚƌŝĞǀĂů;WůƵƐdĂdžͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϭϯϬ͘ϬϬ ĚĚŝƚŝŽŶĨŽƌϭ͟DĞƚĞƌ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϰϱ͘ϬϬ ĚĚŝƚŝŽŶĨŽƌϮͲ ϯ͟DĞƚĞƌ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϴϱ͘ϬϬ ^ƚĂƚĞDĂŶĚĂƚĞĚtĂƚĞƌŚĂƌŐĞ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϭ͘Ϯϳ dŽǁĞƌĐĐĞƐƐ;ĨƚĞƌ,ŽƵƌƐͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϭϰϬ͘ϬϬ hŶĂƵƚŚŽƌŝnjĞĚhƐĞʹsĂůǀĞŽƌ,LJĚƌĂŶƚ;WĞƌKĐĐƵƌƌĞŶĐĞͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϱϬϬ͘ϬϬ tĂƚĞƌ>ĞĂŬĞƚĞĐƚŝŽŶ ϭƉĞƌƐŽŶ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϭϳϬ͘ϬϬ ϮƉĞŽƉůĞ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϯϮϬ͘ϬϬ tĂƚĞƌDĂŝŶdĂƉƉŝŶŐ&ĞĞƐ ϯͬϰ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͟ΨϮϯϬ͘ϬϬ ϭ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͟ΨϮϯϬ͘ϬϬ ϰ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͟ΨϳϲϬ͘ϬϬ ϲ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͟ΨϳϲϬ͘ϬϬ ϴ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͟ΨϳϲϬ͘ϬϬ ϭϬ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͟ΨϳϲϬ͘ϬϬ ϭϮ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͟ΨϳϲϬ͘ϬϬ ŽŶǀĞŶŝĞŶĐĞ&ĞĞ;ƉĞƌĐĂƌĚƉĂLJŵĞŶƚŽŶhƚŝůŝƚLJďŝůůͿ ZĞƐŝĚĞŶƚŝĂů͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ΨϮ͘ϵϱ ŽŵŵĞƌĐŝĂů͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ψϭϱ͘ϵϱ ƉƉƌŽǀĞĚďLJZŽĐŚĞƐƚĞƌWƵďůŝĐhƚŝůŝƚLJŽĂƌĚ͗EŽǀĞŵďĞƌϮϱ͕ϮϬϮϱ ĨĨĞĐƚŝǀĞĂƚĞ͗:ĂŶƵĂƌLJϭ͕ϮϬϮϲ 1'4- $&-& " " "# " " " ϙ ϙ ϙ ϙ ϙ ϙ ϙ ϙ ϙ ϙ ϙ ϙ ϙ ϙ ϙ ϙ ϙ ϙ ϙ ϙ ϙ ϙ ϙ ϙ ϙ ϙ ϙ ϙ ϙ ϙ /0 '(!) !*/ ' % & " 6 %2/')25:$5'81%281',152&+(67(5 &$03866,7('(9(/230(173/$1$*5((0(17 )257+( 1257+$55,9$/352-(&7 %2/')25:$5'81%281',152&+(67(5&$03866,7( 7KLV '(9(/230(173/$1$*5((0(17)257+(1257+$55,9$/352-(&7 WKH $JUHHPHQW&,7<2)52&+(67(5 ³´ LVHQWHUHGLQWRE\DQGEHWZHHQWKHD0LQQHVRWD &LW\ PXQLFLSDOFRUSRUDWLRQ WKH³´ ZLWKRIILFHVDWWK6WUHHW6(5RFKHVWHU0LQQHVRWD 0$<2&/,1,&0D\R DQGD0LQQHVRWDQRQSURILWFRUSRUDWLRQ ³´WRJHWKHUZLWKWKH&LW\WKH 3DUWLHV3DUW\ ³´RUHDFKD³´ ZLWKRIILFHVDWVW6WUHHW6:5RFKHVWHU0LQQHVRWDRQ LWVRZQEHKDOIDQGRQEHKDOIRILWVDIILOLDWHVDQGVXEVLGLDULHV 5(&,7$/6 :+(5($6 0D\RRZQVFHUWDLQUHDOSURSHUW\ZLWKLQWKH&LW\RI5RFKHVWHU2OPVWHG ([KLELW$3URSHUW\ &RXQW\0LQQHVRWDKDYLQJWKHOHJDOGHVFULSWLRQVHWIRUWKRQ WKH³´ DQG ϙ :+(5($6 0D\RLQWHQGVWRFRQVWUXFWDSDUNLQJUDPSDQGSDWLHQWGURSRIIDQGSLFNXS 3URMHFW DUHDRQWKH3URSHUW\ WKH³´ DQG :+(5($6 0D\RKDVDSSOLHGIRUDSSURYDORIDVLWHGHYHORSPHQWSODQIRUWKH3URMHFW WKH 6LWH'HYHORSPHQW3ODQ ³´ DVUHTXLUHGE\6HFWLRQ&RIWKH8QLILHG'HYHORSPHQW&RGH 8'& RIWKH&LW\RI5RFKHVWHU XSGDWHG1RYHPEHU WKH³´ SULRUWRWKH&LW\¶VLVVXDQFHRI DQ\EXLOGLQJSHUPLWVIRUWKH3URMHFWDQG :+(5($6 0D\R¶VVLWHGHYHORSPHQWSODQDSSOLFDWLRQIRUWKH3URMHFWGRHVQRWLQFOXGHD ILQDOGHVLJQSODQIRUFHUWDLQHOHPHQWVRIWKH6LWH'HYHORSPHQW3ODQWKDWDUHUHTXLUHGE\8'&DQG :+(5($6 6HFWLRQG :+(5($6 0D\RKDVQRW\HWVXEPLWWHGILQDOSODQVIRUWKH,FRQLF%XLOGLQJ$OWHUQDWLYH GHVLJQIRUDSSURYDODQG :+(5($6 0D\RKDVSUHVHQWHGDQ³,FRQLF&DPSXV3ODQ´IRU%ROG)RUZDUG8QERXQG ,FRQLF&DPSXV3ODQ ,Q5RFKHVWHU WKH³´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¶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¶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¶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¶V DSSURYDOXQGHUWKLV$JUHHPHQWUHODWHRQO\WRWKH6LWH'HYHORSPHQW3ODQDQG,FRQLF %XLOGLQJ$OWHUQDWLYHGHVLJQDSSURYDOVIRUWKH3URMHFW8QOHVVRWKHUZLVHVSHFLILFDOO\ ZDLYHGKHUHLQQRWKLQJLQWKLV$JUHHPHQWVKDOOEHLQWHUSUHWHGWRZDLYHRUDOWHUWKH UHTXLUHPHQWVRIDQ\RUGLQDQFHVWDWXWHUHJXODWLRQSURFHVVRUSROLF\RIWKH&LW\ UHODWHGWRWKH3URMHFW 'HVFULSWLRQRI5HTXLUHG,WHPV5HTXLUHG,WHPV 7KH³´PHDQVFROOHFWLYHO\ D 7KHLWHPVSUHYLRXVO\DSSURYHGE\WKH&LW\DQGUHIOHFWHGLQWKDWFHUWDLQ FRQGLWLRQDODSSURYDOOHWWHUGDWHG1RYHPEHUUHJDUGLQJ³6LWH 'HYHORSPHQW3ODQ±&'6'3$0D\R&OLQLF1RUWK$UULYDO &HQWHU´ DVLGHQWLILHGLQVXFKOHWWHU DQGWKHSODQVDWWDFKHGWKHUHWR WKH &RQGLWLRQDOO\$SSURYHG6'3 ³´ 3ULYDWH6LWHDQG,FRQLF%XLOGLQJ'HVLJQ,WHPV E 7KH³´ZKLFKFRQVLVWRI L7KRVHLWHPVRQWKH3URSHUW\WKDWDUHVHWIRUWKLQWKH&RQGLWLRQDOO\ $SSURYHG6'3DQG LL7KHIROORZLQJRXWVWDQGLQJLWHPVWKDWKDYHQRWEHHQIXOO\DSSURYHG 2XWVWDQGLQJ3ULYDWH6LWHDQG,FRQLF E\WKH&LW\ FROOHFWLYHO\WKH³ %XLOGLQJ'HVLJQ,WHPV ´ $1RUWKZHVW&RUQHURI%XLOGLQJ±GHVLJQFRQFHSWKDVEHHQ DSSURYHGE\WKH&LW\WHDPPDWHVDZDLWLQJILQDOWHFKQLFDO GRFXPHQWV %1()DoDGH$UW,QVWDOODWLRQ±GHVLJQFRQFHSWKDVEHHQ DSSURYHGE\&LW\WHDPPDWHVDZDLWLQJILQDOWHFKQLFDO GRFXPHQWV 3XEOLF6LWH'HVLJQ,WHPV F 7KH³´ZKLFKFRQVLVWRI L7KRVHLWHPVWKDWDUHQRWRQWKH3URSHUW\WKDWDUHVHWIRUWKLQWKH &RQGLWLRQDOO\$SSURYHG6'3DQG LL7KHIROORZLQJRXWVWDQGLQJLWHPVWKDWDUHORFDWHGLQDUHDVVKDGHGLQ ([KLELW& JUHHQRQDWWDFKHGKHUHWRDQGWKDWKDYHQRWEHHQIXOO\ 2XWVWDQGLQJ3XEOLF6LWH DSSURYHGE\WKH&LW\ FROOHFWLYHO\WKH³ 'HVLJQ,WHPV ´ $/DQGVFDSH3ODQ±SODQVDUHVWLOOSHQGLQJ 7KH2XWVWDQGLQJ3ULYDWH6LWHDQG,FRQLF%XLOGLQJ'HVLJQ,WHPVDQGWKH2XWVWDQGLQJ 2XWVWDQGLQJ5HTXLUHG 3XEOLF6LWH'HVLJQ,WHPVDUHFROOHFWLYHO\UHIHUUHGWRDVWKH³ ,WHPV ´ 2XWVWDQGLQJ5HTXLUHG,WHPV'HVLJQ6FKHGXOH6WDQGDUGV D 2XWVWDQGLQJ5HTXLUHG,WHPV'HVLJQ6WDQGDUGV7KHGHVLJQIRUWKH 2XWVWDQGLQJ5HTXLUHG,WHPVZLOOEHUHYLHZHGE\WKH&LW\DFFRUGLQJWRWKH FULWHULDVHWIRUWKLQ6HFWLRQV&DQG DQGVKDOOPDWHULDOO\FRPSO\ZLWKWKH,FRQLF&DPSXV3ODQ E 2XWVWDQGLQJ5HTXLUHG,WHPV'HVLJQ6FKHGXOH$GHSLFWLRQRIWKHFRQFHSW GHVLJQRIWKH6LWH'HYHORSPHQW3ODQDQG,FRQLF%XLOGLQJ$OWHUQDWLYHGHVLJQ ([KLELW& LQFOXGLQJWKH2XWVWDQGLQJ5HTXLUHG,WHPVLVDWWDFKHGKHUHWRDV ZKLFKLGHQWLILHVDV³6FRSH'HILQLWLRQIRU3URSRVHG(VFURZ$FFRXQW ([KLELW VLGHZDONWRFXUEW\SLFDOO\´IRUWKH3URMHFW ZKLFKLVLGHQWLILHGRQ & DVEXLOGLQJDVVHWIRUWKRQWKHEXLOGLQJOHJHQG ZKHUH3XEOLF6LWH ([KLELW& 'HVLJQ,WHPVZLOOEHORFDWHGDQGGHSLFWVRQO\WKH1RUWK $UULYDO3URMHFW3XEOLF6LWH'HVLJQ,WHPV$UHD0D\R¶VFRQWUDFWRU¶VHVWLPDWH &RVW(VWLPDWH RIWKHFRVWRIWKH3XEOLF6LWH'HVLJQ,WHPVLV LL3XEOLF6LWH'HVLJQ,WHPV,QWKHHYHQWWKDW0D\RIDLOVWRSUHVHQWILQDO GHVLJQVIRUWKH3XEOLF6LWH'HVLJQ,WHPVZLWKLQGD\VDIWHUZULWWHQ QRWLFHRIVXFKIDLOXUHWRGRVRE\WKH&RPSOHWLRQ'HDGOLQHWKH&LW\ PD\FRPSOHWHGHVLJQRIWKH3XEOLF6LWH'HVLJQ,WHPVFRQVLVWHQWZLWK WKH,FRQLF&DPSXV3ODQDQGWKH&RVW(VWLPDWHZLWKLQWKH1RUWK $UULYDO3URMHFW3XEOLF6LWH'HVLJQ,WHPV$UHD FROOHFWLYHO\WKH 3XEOLF)LQDO'HVLJQ ³´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±)RRWLQJDQG)RXQGDWLRQVDQG5&3±&RPPHUFLDO 3OXPELQJ E 7KHUHPDLQLQJSHUPLWVZLOOEHLVVXHGXSRQ&LW\DSSURYDO 3XEOLF6LWH'HVLJQ,WHPV&RPSOHWLRQE\&LW\ YHGGLVSXWHEHWZHHQWKH3DUWLHVEHIRUHH[HUFLVLQJDQ\OHJDOUHPHGLHV7KH GLVSXWHUHVROXWLRQSURFHVVLVDWKUHHOHYHOGLVSXWHUHVROXWLRQODGGHUWKDWHVFDODWHVD GLVSXWHIURPWKHSURMHFWPDQDJHPHQWOHYHOWKURXJKWKHH[HFXWLYHPDQDJHPHQW OHYHO$WHDFKOHYHORIWKHGLVSXWHUHVROXWLRQSURFHVVWKH3DUWLHV¶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¶ZULWWHQQRWLFHWR0D\RDQGWKH&LW\RIWKH SURSRVHGWHUPLQDWLRQRUH[SLUDWLRQRIWKH6HFXULW\)DLOXUHRI0D\RWRSRVW DVXEVWLWXWH6HFXULW\ZLWKLQWHQ EXVLQHVVGD\VDIWHUQRWLFHE\WKH&LW\ RIH[SLUDWLRQRUWHUPLQDWLRQRIWKH6HFXULW\VKDOOFRQVWLWXWHDGHIDXOWWKDW VKDOOEHJURXQGVIRUGUDZLQJRQWKH6HFXULW\ L $VVHWIRUWKLQ6HFWLRQWKH REOLJDWLRQWRFRPSOHWHRUFDXVHFRPSOHWLRQLQZKROHRULQSDUW VXEMHFWWRWKH&LW\¶VFRPSOLDQFHZLWKWKHSURYLVLRQVVHWIRUWKLQWKLV $JUHHPHQW 0D\R¶VREOLJDWLRQVWRLQVWDOOWKH3XEOLF6LWH'HVLJQ ,WHPVXQGHUWKLV$JUHHPHQWLI0D\RGHIDXOWVRQLWVREOLJDWLRQWR LQVWDOOWKH3XEOLF6LWH'HVLJQ,WHPV7KH&LW\PD\GUDZGRZQRU PDNHDFODLPDJDLQVWVXFK6HFXULW\XSRQWKHH[SLUDWLRQRIWKHQRWLFH DQGFXUHSURYLVLRQVLQ6HFWLRQ F KHUHLQ,IWKH6HFXULW\LVGUDZQ GRZQRQRUDFODLPLVPDGHDJDLQVWWKH6HFXULW\WKHSURFHHGVVKDOO EHXVHGWRFXUHWKHGHIDXOW V DQGWRUHLPEXUVHWKH&LW\IRUDOO UHDVRQDEOHDFWXDODQGRXWRISRFNHWFRVWVDQGH[SHQVHVLQFOXGLQJ UHDVRQDEOHDWWRUQH\V¶IHHVLQFXUUHGE\WKH&LW\LQHQIRUFLQJWKLV $JUHHPHQW 6HFXULW\ LL ³´VKDOOEHGHILQHGDVDERQGVXEVWDQWLDOO\LQWKHIRUP ([KLELW( DWWDFKHGKHUHWRDVRUVXFKRWKHUIRUPZKLFKVKDOOEH VXEMHFWWRWKHDSSURYDORIWKH&LW\ZKLFKVKDOOQRWEHXQUHDVRQDEO\ ZLWKKHOG LLL 8SRQ0D\R¶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¶VLQWHQWWRFHUWLI\ FKDUJHVXQGHU0LQQHVRWD6WDWXWHV&KDSWHUDQG0D\RPD\FKDOOHQJH VXFKFHUWLILFDWLRQRQO\RQWKHEDVLVWKDW L 0D\RSHUIRUPHGWKHREOLJDWLRQV JLYLQJULVHWRWKHFKDUJHVDQGPD\QRWFKDOOHQJHZKHWKHUDQ\VXFKDPRXQW H[FHHGVWKHEHQHILWWRWKHODQGDVVHVVHGRU LL WKH&LW\KDVPDGHDPDQLIHVW HUURU F 1RWLFHDQG5HPHGLHV,QWKHHYHQWRIWKH&LW\¶VRU0D\R¶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¶V ULJKWVWRHQIRUFHVXFKSURYLVLRQRUDQ\RWKHUSURYLVLRQLQWKHHYHQWRID VXEVHTXHQWGHIDXOW 0LVFHOODQHRXV D ,QGHPQLILFDWLRQ7RWKHH[WHQWDXWKRUL]HGE\ODZHDFK3DUW\LVUHVSRQVLEOH RQO\IRULWVRZQDFWVDQGWKHUHVXOWVRILWVDFWV(DFK3DUW\ WKH ,QGHPQLI\LQJ3DUW\ ³´ DJUHHVWRLQGHPQLI\KROGKDUPOHVVDQGGHIHQGWKH RWKHU3DUW\DQGLWVUHVSHFWLYHRIILFHUVGLUHFWRUVHPSOR\HHVDJHQWVDQG ,QGHPQLILHG3DUW\ FRQWUDFWRUV WKH³´ IURPDQGDJDLQVWDQ\DQGDOOORVVHV H[SHQVHVDFWLRQVFODLPVGHPDQGVVXLWVMXGJHPHQWVDZDUGVGDPDJHV OLDELOLWLHVFRVWVDQGUHDVRQDEOHDWWRUQH\V¶IHHVWKDWWKH,QGHPQLILHG3DUW\ PD\LQFXURUVXIIHUE\UHDVRQRIRUDULVLQJRXWRIDQ\WKLUGSDUW\FODLP L DWWULEXWDEOHWRERGLO\LQMXU\VLFNQHVVGLVHDVHRUGHDWKRULQMXU\WRRU GHVWUXFWLRQRIWDQJLEOHSURSHUW\ RWKHUWKDQWKH3URMHFW LQFOXGLQJWKHORVV RIXVHUHVXOWLQJWKHUHIURPRU LL DWWULEXWDEOHLQZKROHRULQSDUWWRWKH ,QGHPQLI\LQJ3DUW\¶VIDLOXUHWRSHUIRUPLWVREOLJDWLRQVLQDFFRUGDQFHZLWK WKLV$JUHHPHQWH[FOXGLQJDQ\VXFKFODLPVRUGHPDQGVDWWULEXWDEOHWRWKH QHJOLJHQFHRPLVVLRQRUWKHZLOOIXOPLVFRQGXFWRIWKH,QGHPQLILHG3DUW\ 7KH&LW\¶VOLDELOLW\LVIXUWKHUJRYHUQHGE\WKHSURYLVLRQVRI0LQQHVRWD 6WDWXWHV&KDSWHU E 1RHPSOR\PHQWUHODWLRQVKLS7KHHPSOR\HHVRIHDFK3DUW\DQGDOORWKHU SHUVRQVHQJDJHGE\HDFK3DUW\ZLOOQRWEHFRQVLGHUHGHPSOR\HHVRIWKH RWKHU3DUW\(DFK3DUW\LVVROHO\UHVSRQVLEOHIRUDOOFODLPVDULVLQJIURPLWV HPSOR\HHVXQGHUWKLV$JUHHPHQWLQFOXGLQJFODLPVXQGHUWKH:RUNHU¶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¶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µSGI¶RUµWLI¶ VKDOO EHHIIHFWLYHDVGHOLYHU\RIDPDQXDOO\H[HFXWHGFRXQWHUSDUWRIWKLV $JUHHPHQW N 7LPHLVRIWKH(VVHQFH7LPHLVRIWKHHVVHQFHLQWKHSHUIRUPDQFHRIHDFK 3DUW\¶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³´ LVHQWHUHGLQWRE\DQGEHWZHHQWKHD0LQQHVRWD &LW\ PXQLFLSDOFRUSRUDWLRQ WKH³´ ZLWKRIILFHVDWWK6WUHHW6(5RFKHVWHU0LQQHVRWD 0$<2&/,1,&0D\R DQGD0LQQHVRWDQRQSURILWFRUSRUDWLRQ ³´WRJHWKHUZLWKWKH&LW\WKH 3DUWLHV3DUW\ ³´RUHDFKD³´ ZLWKRIILFHVDWVW6WUHHW6:5RFKHVWHU0LQQHVRWDRQLWV RZQEHKDOIDQGRQEHKDOIRILWVDIILOLDWHVDQGVXEVLGLDULHV 5(&,7$/6 :+(5($6WKH3DUWLHVHQWHUHGLQWRWKDWFHUWDLQ%ROG)RUZDUG8QERXQGLQ5RFKHVWHU &DPSXV6LWH'HYHORSPHQW3ODQ$JUHHPHQWIRUWKH1RUWK$UULYDO3URMHFWRQBBBBBBBBBBBBBBB 2ULJLQDO$JUHHPHQW WKH³´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³ 'DWH ´ >$OWHUDWLRQWR&RVW(VWLPDWH&RVW(VWLPDWH 7KHGHILQLWLRQRI³´LVKHUHE\DPHQGHG WRPHDQBBBBBBBBBBBBBB@ 0LVFHOODQHRXV $OORWKHUWHUPVRIWKH2ULJLQDO$JUHHPHQWQRWPRGLILHGKHUHLQUHPDLQ XQPRGLILHGDQGLQIXOOIRUFHDQGHIIHFWDQGWKH3DUWLHVUDWLI\WKHWHUPVWKHUHRI,QWKHHYHQWRIDFRQIOLFW EHWZHHQWKHWHUPVRIWKLV)LUVW$PHQGPHQWDQGWKHWHUPVRIWKH2ULJLQDO$JUHHPHQWWKHWHUPVRIWKLV )LUVW$PHQGPHQWVKDOOFRQWURO$OOFDSLWDOL]HGWHUPVXVHGKHUHLQZLWKRXWGHILQLWLRQVKDOOKDYHWKHVDPH PHDQLQJVJLYHQWRVXFKWHUPVLQWKH2ULJLQDO$JUHHPHQW7KH2ULJLQDO$JUHHPHQWDVDPHQGHGKHUHE\ LVKHUHLQDIWHUUHIHUUHGWRDVWKH³$JUHHPHQW´DQGDOOUHIHUHQFHVLQWKH2ULJLQDO$JUHHPHQWWRWKH ³$JUHHPHQW´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ϙ (;+,%,7( )2502)6(&85,7< ťťĺŘIJôƅŜЍϙċôôϠϙĖIJèŪŘŘôîϙ æƅϙťēôϙĖťƅϙĖIJϙôIJċĺŘèĖIJČϙťēôϙČŘôôıôIJťϟϙϙēôϙŪŘôťƅϙŜēÍīīϙIJĺťϙæôϙīĖÍæīôϙēôŘôÍċťôŘϙċĺŘϙÍϙīÍŘČôŘϙ ÍıĺŪIJťϙċĺŘϙťēôϙſĺŘħϙŕôŘċĺŘıôîϙŪIJîôŘϙťēôϙôŘıĖťϠϙĖIJϙÍČČŘôČÍťôϠϙťēÍIJϙťēôϙÍıĺŪIJťϙĺċϙťēĖŜϙæĺIJîϟϙ b"ϙ>F(ϠϙŪŘôťƅϙıÍƅϙIJĺťϙťôŘıĖIJÍťôϙťēĖŜϙ %2/')25:$5'81%281',152&+(67(5 &$03866,7('(9(/230(173/$1$*5((0(17 )257+( 6287+3$5.,1*5$03 %2/')25:$5'81%281',152&+(67(5&$03866,7( 7KLV '(9(/230(173/$1$*5((0(17)257+(6287+3$5.,1*5$03 WKH $JUHHPHQW&,7<2)52&+(67(5 ³´ LVHQWHUHGLQWRE\DQGEHWZHHQWKHD0LQQHVRWD &LW\ PXQLFLSDOFRUSRUDWLRQ WKH³´ ZLWKRIILFHVDWWK6WUHHW6(5RFKHVWHU0LQQHVRWD 0$<2&/,1,&0D\R DQGD0LQQHVRWDQRQSURILWFRUSRUDWLRQ ³´WRJHWKHUZLWKWKH&LW\WKH 3DUWLHV3DUW\ ³´RUHDFKD³´ ZLWKRIILFHVDWVW6WUHHW6:5RFKHVWHU0LQQHVRWDRQ LWVRZQEHKDOIDQGRQEHKDOIRILWVDIILOLDWHVDQGVXEVLGLDULHV 5(&,7$/6 :+(5($6 0D\RRZQVFHUWDLQUHDOSURSHUW\ZLWKLQWKH&LW\RI5RFKHVWHU2OPVWHG ([KLELW$3URSHUW\ &RXQW\0LQQHVRWDKDYLQJWKHOHJDOGHVFULSWLRQVHWIRUWKRQ WKH³´ DQG :+(5($6 0D\RLQWHQGVWRFRQVWUXFWDSDUNLQJUDPSIRUDSSUR[LPDWHO\YHKLFOHVRQ 3URMHFW WKH3URSHUW\ WKH³´ DQG :+(5($6 0D\RKDVDSSOLHGIRUDSSURYDORIDVLWHGHYHORSPHQWSODQIRUWKH3URMHFW WKH 6LWH'HYHORSPHQW3ODQ ³´ DVUHTXLUHGE\6HFWLRQ&RIWKH8QLILHG'HYHORSPHQW&RGH 8'& RIWKH&LW\RI5RFKHVWHU XSGDWHG1RYHPEHU WKH³´ SULRUWRWKH&LW\¶VLVVXDQFHRI DQ\EXLOGLQJSHUPLWVIRUWKH3URMHFWDQG :+(5($6 0D\R¶VVLWHGHYHORSPHQWSODQDSSOLFDWLRQIRUWKH3URMHFWGRHVQRWLQFOXGHD ILQDOGHVLJQSODQIRUFHUWDLQHOHPHQWVRIWKH6LWH'HYHORSPHQW3ODQWKDWDUHUHTXLUHGE\8'&DQG :+(5($6 6HFWLRQD\RKDVQRW\HWVXEPLWWHGILQDOSODQVIRUWKH,FRQLF%XLOGLQJ$OWHUQDWLYH GHVLJQIRUDSSURYDODQG :+(5($6 0D\RKDVSUHVHQWHGDQ³,FRQLF&DPSXV3ODQ´IRU%ROG)RUZDUG8QERXQG ,FRQLF&DPSXV3ODQ ,Q5RFKHVWHU WKH³´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¶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¶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¶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¶V DSSURYDOXQGHUWKLV$JUHHPHQWUHODWHRQO\WRWKH6LWH'HYHORSPHQW3ODQDQG,FRQLF %XLOGLQJ$OWHUQDWLYHGHVLJQDSSURYDOVIRUWKH3URMHFW8QOHVVRWKHUZLVHVSHFLILFDOO\ ZDLYHGKHUHLQQRWKLQJLQWKLV$JUHHPHQWVKDOOEHLQWHUSUHWHGWRZDLYHRUDOWHUWKH UHTXLUHPHQWVRIDQ\RUGLQDQFHVWDWXWHUHJXODWLRQSURFHVVRUSROLF\RIWKH&LW\ UHODWHGWRWKH3URMHFW 'HVFULSWLRQRI5HTXLUHG,WHPV5HTXLUHG,WHPV 7KH³´PHDQVFROOHFWLYHO\ D 7KHLWHPVSUHYLRXVO\DSSURYHGE\WKH&LW\DQGUHIOHFWHGLQWKDWFHUWDLQ FRQGLWLRQDODSSURYDOOHWWHUGDWHG2FWREHUUHJDUGLQJ³6LWH 'HYHORSPHQW3ODQ±&'6'30D\R&OLQLF6RXWK3DUNLQJ5DPS´ DVLGHQWLILHGLQVXFKOHWWHU DQGWKHSODQVDWWDFKHGWKHUHWR WKH &RQGLWLRQDOO\$SSURYHG6'3 ³´ 3ULYDWH6LWHDQG,FRQLF%XLOGLQJ'HVLJQ,WHPV E 7KH³´ZKLFKFRQVLVWRI L7KRVHLWHPVRQWKH3URSHUW\WKDWDUHVHWIRUWKLQWKH&RQGLWLRQDOO\ $SSURYHG6'3DQG LL7KHIROORZLQJRXWVWDQGLQJLWHPVWKDWKDYHQRWEHHQIXOO\DSSURYHG 2XWVWDQGLQJ3ULYDWH6LWHDQG,FRQLF E\WKH&LW\ FROOHFWLYHO\WKH³ %XLOGLQJ'HVLJQ,WHPV ´ $$UW6ROXWLRQVDORQJWKHVWUHHWIDFLQJIDFDGHV±GHVLJQ FRQFHSWKDVEHHQDSSURYHGE\&LW\WHDPPDWHVDZDLWLQJ ILQDOWHFKQLFDOGRFXPHQWV 3XEOLF6LWH'HVLJQ,WHPV F 7KH³´ZKLFKFRQVLVWRI L7KRVHLWHPVWKDWDUHQRWRQWKH3URSHUW\WKDWDUHVHWIRUWKLQWKH &RQGLWLRQDOO\$SSURYHG6'3DQG LL7KHIROORZLQJRXWVWDQGLQJLWHPVWKDWDUHORFDWHGLQDUHDVVKDGHGLQ ([KLELW& JUHHQRQDWWDFKHGKHUHWRDQGWKDWKDYHQRWEHHQIXOO\ 2XWVWDQGLQJ3XEOLF6LWH DSSURYHGE\WKH&LW\ FROOHFWLYHO\WKH³ 'HVLJQ,WHPV ´ $/DQGVFDSH3ODQSODQVDUHVWLOOSHQGLQJ 7KH2XWVWDQGLQJ3ULYDWH6LWHDQG,FRQLF%XLOGLQJ'HVLJQ,WHPVDQGWKH2XWVWDQGLQJ 2XWVWDQGLQJ5HTXLUHG 3XEOLF6LWH'HVLJQ,WHPVDUHFROOHFWLYHO\UHIHUUHGWRDVWKH³ ,WHPV ´ 2XWVWDQGLQJ5HTXLUHG,WHPV'HVLJQ6FKHGXOH6WDQGDUGV D 2XWVWDQGLQJ5HTXLUHG,WHPV'HVLJQ6WDQGDUGV7KHGHVLJQIRUWKH 2XWVWDQGLQJ5HTXLUHG,WHPVZLOOEHUHYLHZHGE\WKH&LW\DFFRUGLQJWRWKH FULWHULDVHWIRUWKLQ6HFWLRQV&DQGLFWLRQRIWKHFRQFHSW GHVLJQRIWKH6LWH'HYHORSPHQW3ODQDQG,FRQLF%XLOGLQJ$OWHUQDWLYHGHVLJQ ([KLELW& LQFOXGLQJWKH2XWVWDQGLQJ5HTXLUHG,WHPVLVDWWDFKHGKHUHWRDV ZKLFKLGHQWLILHVDV³6FRSH'HILQLWLRQIRU3URSRVHG(VFURZ$FFRXQW ([KLELW VLGHZDONWRFXUEW\SLFDOO\´IRUWKH3URMHFW ZKLFKLVLGHQWLILHGRQ & DVEXLOGLQJDVVHWIRUWKRQWKHEXLOGLQJOHJHQG ZKHUH3XEOLF6LWH ([KLELW& 'HVLJQ,WHPVZLOOEHORFDWHGDQGGHSLFWVRQO\WKH6RXWK 3DUNLQJ5DPS3URMHFW3XEOLF6LWH'HVLJQ,WHPV$UHD0D\R¶VFRQWUDFWRU¶V &RVW HVWLPDWHRIWKHFRVWRIWKH3XEOLF6LWH'HVLJQ,WHPVLV ³ (VWLPDWH ´ 0D\RZLOOSUHVHQWILQDOGHVLJQIRUWKH2XWVWDQGLQJ5HTXLUHG ,WHPVWRWKH&LW\QRODWHUWKDQ)HEUXDU\ DVPD\EHH[WHQGHGGXH &RPSOHWLRQ'HDGOLQH WR)RUFH0DMHXUHXQGHU6HFWLRQ K KHUHLQ³´ ,Q WKHLUUHVSHFWLYHUHYLHZVRIWKHILQDOGHVLJQRIWKH2XWVWDQGLQJ5HTXLUHG ,WHPVWKH3DUWLHVVKDOOFRRSHUDWHZLWKHDFKRWKHUWRUHVROYHDQ\REVWDFOHV WRDSSURYDORIWKHGHVLJQLQDQH[SHGLWLRXVPDQQHU,IWKH3DUWLHVDUHXQDEOH WRDJUHHWKH3DUWLHVVKDOOIROORZWKHGLVSXWHUHVROXWLRQSURFHVVGHILQHG KHUHLQ8SRQILQDO&LW\DSSURYDORIWKH6LWH'HYHORSPHQW3ODQDQG,FRQLF )LQDO$SSURYHG'HVLJQ %XLOGLQJ$OWHUQDWLYHGHVLJQ WKH³´ ZKLFK DSSURYDOVKDOOQRWEHXQUHDVRQDEO\ZLWKKHOGGHOD\HGRUFRQGLWLRQHGWKH )LQDO$SSURYHG'HVLJQZLOOEHDWWDFKHGWRDQDPHQGPHQWWRWKLV$JUHHPHQW 'HVLJQ$PHQGPHQW WREHH[HFXWHGE\WKH3DUWLHV WKH³´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³´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±)RRWLQJDQG)RXQGDWLRQV5&%±&RPPHUFLDO%XLOGLQJ 1HZ%XLOGLQJ 5&(±&RPPHUFLDO(OHFWULFDO5&0± &RPPHUFLDO0HFKDQLFDO +9$& 5 E 7KHUHPDLQLQJSHUPLWVZLOOEHLVVXHGXSRQ&LW\DSSURYDO 3XEOLF6LWH'HVLJQ,WHPV&RPSOHWLRQE\&LW\ GGLVSXWHEHWZHHQWKH3DUWLHVEHIRUHH[HUFLVLQJDQ\OHJDOUHPHGLHV7KH GLVSXWHUHVROXWLRQSURFHVVLVDWKUHHOHYHOGLVSXWHUHVROXWLRQODGGHUWKDWHVFDODWHVD GLVSXWHIURPWKHSURMHFWPDQDJHPHQWOHYHOWKURXJKWKHH[HFXWLYHPDQDJHPHQW OHYHO$WHDFKOHYHORIWKHGLVSXWHUHVROXWLRQSURFHVVWKH3DUWLHV¶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¶ZULWWHQQRWLFHWR0D\RDQGWKH&LW\RIWKH SURSRVHGWHUPLQDWLRQRUH[SLUDWLRQRIWKH6HFXULW\)DLOXUHRI0D\RWRSRVW DVXEVWLWXWH6HFXULW\ZLWKLQWHQ EXVLQHVVGD\VDIWHUQRWLFHE\WKH&LW\ RIH[SLUDWLRQRUWHUPLQDWLRQRIWKH6HFXULW\VKDOOFRQVWLWXWHDGHIDXOWWKDW VKDOOEHJURXQGVIRUGUDZLQJRQWKH6HFXULW\ L $VVHWIRUWKLQ6HFWLRQKH REOLJDWLRQWRFRPSOHWHRUFDXVHFRPSOHWLRQLQZKROHRULQSDUW VXEMHFWWRWKH&LW\¶VFRPSOLDQFHZLWKWKHSURYLVLRQVVHWIRUWKLQWKLV $JUHHPHQW 0D\R¶VREOLJDWLRQVWRLQVWDOOWKH3XEOLF6LWH'HVLJQ ,WHPVXQGHUWKLV$JUHHPHQWLI0D\RGHIDXOWVRQLWVREOLJDWLRQWR LQVWDOOWKH3XEOLF6LWH'HVLJQ,WHPV7KH&LW\PD\GUDZGRZQRU PDNHDFODLPDJDLQVWVXFK6HFXULW\XSRQWKHH[SLUDWLRQRIWKHQRWLFH DQGFXUHSURYLVLRQVLQ6HFWLRQ F KHUHLQ,IWKH6HFXULW\LVGUDZQ GRZQRQRUDFODLPLVPDGHDJDLQVWWKH6HFXULW\WKHSURFHHGVVKDOO EHXVHGWRFXUHWKHGHIDXOW V DQGWRUHLPEXUVHWKH&LW\IRUDOO UHDVRQDEOHDFWXDODQGRXWRISRFNHWFRVWVDQGH[SHQVHVLQFOXGLQJ UHDVRQDEOHDWWRUQH\V¶IHHVLQFXUUHGE\WKH&LW\LQHQIRUFLQJWKLV $JUHHPHQW 6HFXULW\ LL ³´VKDOOEHGHILQHGDVDERQGVXEVWDQWLDOO\LQWKHIRUP ([KLELW( DWWDFKHGKHUHWRDVRUVXFKRWKHUIRUPZKLFKVKDOOEH VXEMHFWWRWKHDSSURYDORIWKH&LW\ZKLFKVKDOOQRWEHXQUHDVRQDEO\ ZLWKKHOG LLL 8SRQ0D\R¶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¶VLQWHQWWRFHUWLI\ FKDUJHVXQGHU0LQQHVRWD6WDWXWHV&KDSWHUDQG0D\RPD\FKDOOHQJH VXFKFHUWLILFDWLRQRQO\RQWKHEDVLVWKDW L 0D\RSHUIRUPHGWKHREOLJDWLRQV JLYLQJULVHWRWKHFKDUJHVDQGPD\QRWFKDOOHQJHZKHWKHUDQ\VXFKDPRXQW H[FHHGVWKHEHQHILWWRWKHODQGDVVHVVHGRU LL WKH&LW\KDVPDGHDPDQLIHVW HUURU F 1RWLFHDQG5HPHGLHV,QWKHHYHQWRIWKH&LW\¶VRU0D\R¶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¶V ULJKWVWRHQIRUFHVXFKSURYLVLRQRUDQ\RWKHUSURYLVLRQLQWKHHYHQWRID VXEVHTXHQWGHIDXOW 0LVFHOODQHRXV D ,QGHPQLILFDWLRQ7RWKHH[WHQWDXWKRUL]HGE\ODZHDFK3DUW\LVUHVSRQVLEOH RQO\IRULWVRZQDFWVDQGWKHUHVXOWVRILWVDFWV(DFK3DUW\ WKH ,QGHPQLI\LQJ3DUW\ ³´ DJUHHVWRLQGHPQLI\KROGKDUPOHVVDQGGHIHQGWKH RWKHU3DUW\DQGLWVUHVSHFWLYHRIILFHUVGLUHFWRUVHPSOR\HHVDJHQWVDQG ,QGHPQLILHG3DUW\ FRQWUDFWRUV WKH³´ IURPDQGDJDLQVWDQ\DQGDOOORVVHV H[SHQVHVDFWLRQVFODLPVGHPDQGVVXLWVMXGJHPHQWVDZDUGVGDPDJHV OLDELOLWLHVFRVWVDQGUHDVRQDEOHDWWRUQH\V¶IHHVWKDWWKH,QGHPQLILHG3DUW\ PD\LQFXURUVXIIHUE\UHDVRQRIRUDULVLQJRXWRIDQ\WKLUGSDUW\FODLP L DWWULEXWDEOHWRERGLO\LQMXU\VLFNQHVVGLVHDVHRUGHDWKRULQMXU\WRRU GHVWUXFWLRQRIWDQJLEOHSURSHUW\ RWKHUWKDQWKH3URMHFW LQFOXGLQJWKHORVV RIXVHUHVXOWLQJWKHUHIURPRU LL DWWULEXWDEOHLQZKROHRULQSDUWWRWKH ,QGHPQLI\LQJ3DUW\¶VIDLOXUHWRSHUIRUPLWVREOLJDWLRQVLQDFFRUGDQFHZLWK WKLV$JUHHPHQWH[FOXGLQJDQ\VXFKFODLPVRUGHPDQGVDWWULEXWDEOHWRWKH QHJOLJHQFHRPLVVLRQRUWKHZLOOIXOPLVFRQGXFWRIWKH,QGHPQLILHG3DUW\ 7KH&LW\¶VOLDELOLW\LVIXUWKHUJRYHUQHGE\WKHSURYLVLRQVRI0LQQHVRWD 6WDWXWHV&KDSWHU E 1RHPSOR\PHQWUHODWLRQVKLS7KHHPSOR\HHVRIHDFK3DUW\DQGDOORWKHU SHUVRQVHQJDJHGE\HDFK3DUW\ZLOOQRWEHFRQVLGHUHGHPSOR\HHVRIWKH RWKHU3DUW\(DFK3DUW\LVVROHO\UHVSRQVLEOHIRUDOOFODLPVDULVLQJIURPLWV HPSOR\HHVXQGHUWKLV$JUHHPHQWLQFOXGLQJFODLPVXQGHUWKH:RUNHU¶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¶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µSGI¶RUµWLI¶ VKDOO EHHIIHFWLYHDVGHOLYHU\RIDPDQXDOO\H[HFXWHGFRXQWHUSDUWRIWKLV $JUHHPHQW N 7LPHLVRIWKH(VVHQFH7LPHLVRIWKHHVVHQFHLQWKHSHUIRUPDQFHRIHDFK 3DUW\¶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ůůEKd/͗dŚĞĚĞƐŝŐŶƐƐŚŽǁŶĂŶĚĚĞƐĐƌŝďĞĚŚĞƌĞŝŶŝŶĐůƵĚŝŶŐĂůůƌŽƉƌŝĞƚĂƌLJĂŶĚĐĂŶŶŽƚďĞĐŽƉŝĞĚ͕ĚƵƉůŝĐĂƚĞĚŽƌĐŽŵŵĞƌĐŝĂůůLJ ƉƌŽƉƌŝĞƚĂƌLJĂŶĚĐĂŶŶŽƚďĞĐŽƉŝĞĚ͕ĚƵƉůŝĐĂƚĞĚŽƌĐŽŵŵĞƌĐŝĂůůLJ ůĞ ŶĚLJ:͘DĂƐƚĞƌƉŽůĞ ĚƉĞƌŵŝƐƐŝŽŶŽĨZ^WƌĐŚŝƚĞĐƚƐ͘dŚĞƐĞĂƌĞĂǀĂŝůĂďůĞĨŽƌůŝŵŝƚĞĚŶŐŽǀĞƌŶŵĞŶƚĂŐĞŶĐŝĞƐ͕ǀĞŶĚŽƌƐĂŶĚŽĨĨŝĐĞƉĞƌƐŽŶŶĞůŽŶůLJŝŶ ƵĚŝŶŐĂ ĞƌŵŝƐƐŝŽŶŽĨZ^WƌĐŚŝƚĞĐƚƐ͘dŚĞƐĞĂƌĞĂǀĂŝůĂďůĞĨŽƌůŝŵŝƚĞ ͕ƌĞǀŝĞǁĂŶĚĞǀĂůƵĂƚŝŽŶďLJĐůŝĞŶƚƐ͕ĐŽŶƐƵůƚĂŶƚƐ͕ĐŽŶƚƌĂĐƚŽƌƐ͕ ŚĞƌĞďLJĐĞƌƚŝĨLJƚŚĂƚƚŚŝƐƉůĂŶ͕ƐƉĞĐŝĨŝĐĂƚŝŽŶ͕ŽƌƌĞƉŽƌƚǁĂƐĂƚ/ƉƌĞƉĂƌĞĚďLJŵĞŽƌƵŶĚĞƌŵLJĚŝƌĞĐƚƐƵƉĞƌǀŝƐŝŽŶĂŶĚƚŚĂƚ/ĞǀŝĞǁĂŶĚĞǀĂůƵĂƚŝŽŶďLJĐůŝĞŶƚƐ͕ĐŽŶƐƵůƚĂŶƚƐ͕ĐŽŶƚƌĂĐƚŽƌƐŝ ϬϬϲϭϮ͘ϲϳϳ͘ϳϭϬϬ/ŚĞƌĞďLJĐĞƌƚŝĨLJƚŚĂƚƚŚŝƐƉůĂŶ͕ƐƉĞĐŝĨŝĐĂƚŝŽŶ͕ŽƌƌĞƉŽƌƚǁĂƐ W^Khd,WZ</E'ZDW ŶĚLJ:͘DĂƐƚĞƌƉŽ ĞdžƉůŽŝƚĞĚ͕ŝŶǁŚŽůĞŽƌŝŶƉĂƌƚ͕ǁŝƚŚŽƵƚĞdžƉƌĞƐƐǁƌŝƚƚĞŶ ŶLJ ĂǁƐĂŵĂĚƵůLJ>ŝĐĞŶƐĞĚ>ĂŶĚƐĐĂƉĞƌĐŚŝƚĞĐƚƵŶĚĞƌƚŚĞůĂǁƐƚĞĐŚŶŝĐĂůĚƌĂǁŝŶŐƐ͕ŐƌĂƉŚŝĐƐ͕ĂŶĚŵŽĚĞůƐƚŚĞƌĞŽĨ͕ĂƌĞ ĞĞƌƐŽŶŶĞůŽŶů ƌƐƉĂƌĐŚ͘ĐŽŵĞĐŚŶŝĐĂůĚƌĂǁŝŶŐƐ͕ŐƌĂƉŚŝĐƐ͕ĂŶĚŵŽĚĞůƐƚŚĞƌĞŽĨ͕Ăƌ ͘ĐŽŵ ŽƵƚĞdžƉƌĞƐƐǁƌŝƚƚĞ Ś ϳϳ͘ϳϭ d,WZ</E'ZD LJŵĞŽƌƵŶĚĞƌŵLJĚŝƌĞĐƚƐƵƉĞƌǀŝƐŝŽŶĂŶĚƚ ů ů ĞĞƌĞŝŶŝŶĐ Ś ĞƐŝŐŶƐƐů ĂĐĐŽ Ž WZK:d&KZ ^5 Ś K ƐŚĂůůŽĂƚĞ^ŝŐŶĞĚ ŽŝƚĞĚ͕ŝŶǁ ŚĞĐŬĞĚLJͬͬͬͬ >ŝĐĞŶƐĞEŽ͘ WƌŽũĞĐƚEŽ͘ (;+,%,7' )2502)$0(1'0(17727+,6$*5((0(17 ),567$0(1'0(1772 %2/')25:$5'81%281',152&+(67(5 &$03866,7('(9(/230(173/$1$*5((0(17 )257+( 6287+3$5.,1*5$03 7KLV),567$0(1'0(1772%2/')25:$5'81%281',152&+(67(5 &$03866,7('(9(/230(173/$1$*5((0(17)257+(6287+3$5.,1*5$03 WKH )LUVW$PHQGPHQW&,7<2)52&+(67(5 ³´ LVHQWHUHGLQWRE\DQGEHWZHHQWKHD0LQQHVRWD &LW\ PXQLFLSDOFRUSRUDWLRQ WKH³´ ZLWKRIILFHVDWWK6WUHHW6(5RFKHVWHU0LQQHVRWD 0$<2&/,1,&0D\R DQGD0LQQHVRWDQRQSURILWFRUSRUDWLRQ ³´WRJHWKHUZLWKWKH&LW\WKH 3DUWLHV3DUW\ ³´RUHDFKD³´ ZLWKRIILFHVDWVW6WUHHW6:5RFKHVWHU0LQQHVRWDRQLWV RZQEHKDOIDQGRQEHKDOIRILWVDIILOLDWHVDQGVXEVLGLDULHV 5(&,7$/6 :+(5($6WKH3DUWLHVHQWHUHGLQWRWKDWFHUWDLQ%ROG)RUZDUG8QERXQGLQ5RFKHVWHU &DPSXV6LWH'HYHORSPHQW3ODQ$JUHHPHQWIRUWKH6RXWK3DUNLQJ5DPS3URMHFWRQBBBBBBBBBBBBBBB 2ULJLQDO$JUHHPHQW WKH³´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³ 'DWH ´ >$OWHUDWLRQWR&RVW(VWLPDWH&RVW(VWLPDWH 7KHGHILQLWLRQRI³´LVKHUHE\DPHQGHG WRPHDQBBBBBBBBBBBBBB@ 0LVFHOODQHRXV $OORWKHUWHUPVRIWKH2ULJLQDO$JUHHPHQWQRWPRGLILHGKHUHLQUHPDLQ XQPRGLILHGDQGLQIXOOIRUFHDQGHIIHFWDQGWKH3DUWLHVUDWLI\WKHWHUPVWKHUHRI,QWKHHYHQWRIDFRQIOLFW EHWZHHQWKHWHUPVRIWKLV)LUVW$PHQGPHQWDQGWKHWHUPVRIWKH2ULJLQDO$JUHHPHQWWKHWHUPVRIWKLV )LUVW$PHQGPHQWVKDOOFRQWURO$OOFDSLWDOL]HGWHUPVXVHGKHUHLQZLWKRXWGHILQLWLRQVKDOOKDYHWKHVDPH PHDQLQJVJLYHQWRVXFKWHUPVLQWKH2ULJLQDO$JUHHPHQW7KH2ULJLQDO$JUHHPHQWDVDPHQGHGKHUHE\ LVKHUHLQDIWHUUHIHUUHGWRDVWKH³$JUHHPHQW´DQGDOOUHIHUHQFHVLQWKH2ULJLQDO$JUHHPHQWWRWKH ³$JUHHPHQW´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ϙ (;+,%,7( )2502)6(&85,7< ťťĺŘIJôƅŜЍϙċôôϠϙĖIJèŪŘŘôîϙ æƅϙťēôϙĖťƅϙĖIJϙôIJċĺŘèĖIJČϙťēôϙČŘôôıôIJťϟϙϙēôϙŪŘôťƅϙŜēÍīīϙIJĺťϙæôϙīĖÍæīôϙēôŘôÍċťôŘϙċĺŘϙÍϙīÍŘČôŘϙ ÍıĺŪIJťϙċĺŘϙťēôϙſĺŘħϙŕôŘċĺŘıôîϙŪIJîôŘϙťēôϙôŘıĖťϠϙĖIJϙÍČČŘôČÍťôϠϙťēÍIJϙťēôϙÍıĺŪIJťϙĺċϙťēĖŜϙæĺIJîϟϙ b"ϙ>F(ϠϙŪŘôťƅϙıÍƅϙIJĺťϙťôŘıĖIJÍťôϙťēĖŜϙ , %&!' " # ' 8 1 $ 0 )# # ϙ ϙ ibI[ϱIbII("ϙIibϙ>ia ϙ ϙ ϙ ϙ ϙ ϙ aôıæôŘŜϙôŗŪôŜťĖIJČϙèťĖĺIJϡ ϙ ēÍŪIJϙÍīıôŘϠϙ ϙ ϙ ĺŪIJèĖīϙaôıæôŘϙŜŪŕŕĺŘťĖIJČϙťēôϙŘôŗŪôŜťϡϙ )FS)TJWNSL Ėťīôϡ ϙ>ŪIJîĖIJČϙċĺŘϙťēôϙÍīŽÍťĖĺIJϙŘıƅϙťĺϙŕŘĺŽĖîôϙŜôèŪŘĖťƅϙťĺϙťēôĖŘϙ"ôIJťÍīϙÍIJîϙaôîĖèÍīϙŕŘĺČŘÍıŜϙÍIJîϙ ċĺŘϙťēôĖŘϙôIJťÍīϙŜŜĖŜťÍIJèôϙŕŘĺČŘÍıϠϙċĺŘϙщ͑͏ϟ͏͏͏ϟϙŪŜĖIJČϙťēôϙ͑͏͔͑ϙĺIJťĖIJČôIJèƅϙċŪIJîŜϟ ϙ ôôϙÍťťÍèēôîϙŕŘĺČŘÍıϙIJôôîôîϙċŘĺıϙťēôϙÍīŽÍťĖĺIJϙŘıƅϟ ϙ ϙ "ÍťôϙôèôĖŽôîϙæƅϙĖťƅϙîıĖIJĖŜťŘÍťĖĺIJϡϙ ϙ ϙ "ÍťôϙĺċϙĖťƅϙĺŪIJèĖīϙaôôťĖIJČϡϙ ϙ ϙ ϙ bĺŽôıæôŘϙ͖͐Ϡϙ͑͏͔͑ϙ ϙ (ϡϙĺèēôŜťôŘϙÍīŽÍťĖĺIJϙŘıƅϙôIJťÍīϙŜŜĖŜťÍIJèôϙŘĺČŘÍıϙ ϙ (ÍèēϙıĺIJťēϠϙťēôϙĺèēôŜťôŘϙÍīŽÍťĖĺIJϙŘıƅϙēôīŕŜϙ͔ϱ͖ϙēĺŪŜôēĺīîŜϙſĖťēϙæÍèħϙŘôIJťϠϙŪŜŪÍīīƅϙ æôťſôôIJϙщ͔͏͏ϙÍIJîϙщ͐Ϡ͔͏͏ϠϙîôŕôIJîĖIJČϙĺIJϙťēôϙÍıĺŪIJťϙĺċϙťēôϙŘôIJťϟϙ®ôϙſĺŘħϙèīĺŜôīƅϙſĖťēϙ īĺèÍīϙŕÍŘťIJôŘŜϙĖIJèīŪîĖIJČϙťēôϙŜèēĺĺīŜϠϙťϟϙ«ĖIJèôIJťϙîôϙÍŪīϠϙÍIJîϙťēôϙèĺŪIJťƅϙťĺϙĖîôIJťĖċƅϙċÍıĖīĖôŜϙ ſēĺϙÍŘôϙıĺŜťϙĖIJϙIJôôîϙĺċϙťēĖŜϙÍŜŜĖŜťÍIJèôϟϙϙ ϙ ®ēôIJϙſôϙŕŘĺŽĖîôϙŘôIJťÍīϙÍŜŜĖŜťÍIJèôϠϙèīĖôIJťŜϙſĺŘħϙîĖŘôèťīƅϙſĖťēϙĺIJôϙĺċϙĺŪŘϙèÍŜôſĺŘħôŘŜϟϙIċϙ ÍîîĖťĖĺIJÍīϙŜŪŕŕĺŘťϙĖŜϙIJôôîôîϠϙſôϙèÍIJϙÍīŜĺϙŘôċôŘϙťēôıϙťĺϙÍϙèĺŪIJťƅϙŜĺèĖÍīϙſĺŘħôŘϟϙ"ôŕôIJîĖIJČϙ ĺIJϙťēôĖŘϙŜĖťŪÍťĖĺIJϠϙſôϙıÍƅϙæôϙÍæīôϙťĺϙĺċċôŘϙŪťĖīĖťƅϙÍŜŜĖŜťÍIJèôϙϼÍŜϙċŪIJîĖIJČϙÍīīĺſŜϽϙÍIJîϙŕŘĺŽĖîôϙ ċĺĺîϙťēŘĺŪČēϙĺŪŘϙċĺĺîϙŜēôīċϟ ϙ IċϙťēôƅϙÍŘôϙÍϙċÍıĖīƅϙŪIJĖťϠϙťēôƅϙèÍIJϙôIJŘĺīīϙĖIJϙĺŪŘϙÍťēſÍƅϙĺċϙFĺŕôϙŕŘĺČŘÍıϠϙſēôŘôϙťēôƅϙſĖīīϙŜôťϙ ČĺÍīŜϙÍIJîϙſĺŘħϙèīĺŜôīƅϙſĖťēϙĺŪŘϙèĺĺŘîĖIJÍťĺŘϙŪIJťĖīϙťēĺŜôϙČĺÍīŜϙÍŘôϙŜŪèèôŜŜċŪīīƅϙıôťϟϙ ϙ IJċĺŘťŪIJÍťôīƅϠϙſôϙıŪŜťϙŜťĖīīϙťŪŘIJϙÍſÍƅϙċĺŘϙŘôIJťÍīϙÍŜŜĖŜťÍIJèôϙÍæĺŪťϙ͒͏ϙēĺŪŜôēĺīîŜϙôŽôŘƅϙ ıĺIJťēϠϙŜĖıŕīƅϙæôèÍŪŜôϙťēôĖŘϙīôČĖťĖıÍťôϙIJôôîŜϙôƄèôôîϙĺŪŘϙÍŽÍĖīÍæīôϙŘôŜĺŪŘèôŜϟϙ®ĖťēϙôƄťŘÍϙ ċĖIJÍIJèĖÍīϙÍŜŜĖŜťÍIJèôϠϙſôϙèÍIJϙŕŘĺŽĖîôϙıĺŘôϙŜťÍæĖīĖťƅϙÍIJîϙēôīŕϙŕŘôŽôIJťϙôŽĖèťĖĺIJŜϙÍIJîϙ ēĺıôīôŜŜIJôŜŜϙċĺŘϙıĺŘôϙĖIJîĖŽĖîŪÍīŜϙÍIJîϙċÍıĖīĖôŜϙϼèēĖīîŘôIJϤϽϙĖIJϙĺèēôŜťôŘϟϙϙ ϙ ϙ (ϡϙĺèēôŜťôŘϙÍīŽÍťĖĺIJϙŘıƅϙôèŪŘĖťƅϙĺIJèôŘIJŜϙ ϙ ēôϙÍīŽÍťĖĺIJϙŘıƅϙĖIJϙĺèēôŜťôŘϠϙabϠϙēÍŜϙŜôôIJϙÍϙŜťÍŘħϙĖIJèŘôÍŜôϙĖIJϙŽĖĺīôIJťϠϙôıôŘČôIJťϙıôîĖèÍīϠϙĺŘϙ ĺťēôŘſĖŜôϙŜÍċôťƅϙťēŘôÍťôIJĖIJČϙĖIJèĖîôIJťŜϙŜĖIJèôϙVŪīƅϙ͑͏͔͑ϟϙēĖŜϙĖŜϙĺIJīƅϙŕÍŘťĖÍīīƅϙîŪôϙťĺϙÍIJϙĖIJèŘôÍŜôϙĖIJϙťēôϙ IJŪıæôŘϙĺċϙŕôĺŕīôϙċŘôŗŪôIJťĖIJČϙťēôĖŘϙîÍƅϙèôIJťôŘϙÍťϙ͔͐͐ϙ>ĖŘŜťϙŽôIJŪôϙb(ϟϙēôϙĖIJèŘôÍŜôϙĖIJϙIJŪıæôŘŜϙĖŜϙ ĖıŕĺŘťÍIJťϙťĺϙIJĺťôϙæôèÍŪŜôϙſēôŘôϙÍIJϙÍŽôŘÍČôϙĺċϙ͖͔ϙıôÍīŜϙÍϙîÍƅϙſôŘôϙŜôŘŽôîϠϙĖťϙĖŜϙIJĺſϙÍIJϙÍŽôŘÍČôϙĺċϙ͐͑͏ϟϙϙ ϙ ēÍťϙċĖČŪŘôϙîĖŘôèťīƅϙťŘÍIJŜīÍťôŜϙťĺϙťēôϙIJŪıæôŘϙĺċϙŕôĺŕīôϙſēĺϙŜŕôIJîϙťĖıôϙĖIJϙťēôϙîÍƅϙèôIJťôŘϠϙîŪŘĖIJČϙťēôĖŘϙ ıôÍīťĖıôϙϼ͐͐ϡ͒͏Íıϱ͐͑ϡ͒͏ŕıϽϙĺŘϙĺťēôŘſĖŜôϟϙaÍIJƅϙĺċϙťēôϙĖIJîĖŽĖîŪÍīŜϙſēĺϙŽĖŜĖťϙťēôϙîÍƅϙèôIJťôŘϙÍŘŘĖŽôϙÍŜϙ ôÍŘīƅϙÍŜϙ͗ÍıϠϙÍIJîϙŘôıÍĖIJϙĖIJϙťēôϙċÍèĖīĖťƅϙŪIJťĖīϙ͓ŕıϙaĺIJîÍƅϙťēŘĺŪČēϙ>ŘĖîÍƅϟϙϙ ϙ FÍŽĖIJČϙ͐͑͏ϙîĖċċôŘôIJťϙĖIJîĖŽĖîŪÍīŜϙſēĺϙÍŘôϙŜťŘŪČČīĖIJČϙſĖťēϙôŽôŘƅťēĖIJČϙċŘĺıϙèēôıĖèÍīϙîôŕôIJîôIJèƅϠϙıôIJťÍīϙ ĖīīIJôŜŜϠϙēĺıôīôŜŜIJôŜŜϠϙēĺŪŜĖIJČϙĖIJŜôèŪŘĖťƅϠϙċĺĺîϙĖIJŜôèŪŘĖťƅϠϙÍIJîϙÍϙæŘĺÍîϙŘÍIJČôϙĺċϙĺťēôŘϙèēÍīīôIJČôŜϙÍīīϙ èĺIJČŘôČÍťĖIJČϙĖIJϙťēôϙŜÍıôϙæŪĖīîĖIJČϙôÍèēϙîÍƅϙēÍŜϙŘôŜŪīťôîϙĖIJϙÍϙēôĖČēťôIJôîϙIJŪıæôŘϙĺċϙÍīťôŘèÍťĖĺIJŜϙťēÍťϙ ēÍŽôϙīôċťϙēôϙÍīŽÍťĖĺIJϙŘıƅϙſĖťēϙČŘôÍťϙèĺIJèôŘIJϙċĺŘϙťēôϙŜÍċôťƅϙĺċϙôŽôŘƅĺIJôϙĺIJϙťēôĖŘϙŕŘĺŕôŘťĖôŜϟϙϙ ϙ ēôϙÍīŽÍťĖĺIJϙŘıƅϙèĺIJťĖIJŪôŜϙťĺϙæôϙÍϙŕÍŘťϙĺċϙťēôϙĺIJČĺĖIJČϙèĺIJŽôŘŜÍťĖĺIJŜϙÍŘĺŪIJîϙťēôϙŕīÍèôŜϙŕôĺŕīôϙÍŘôϙ ŜīôôŕĖIJČϙſēôIJϙťēôƅϙÍŘôϙIJĺťϙēĺŪŜôîϙĺŽôŘIJĖČēťϙÍťϙÍťēĺīĖèϙēÍŘĖťĖôŜϙĺŘϙťēôϙ"ĺŘĺťēƅϙ"ÍƅϙFĺŜŕĖťÍīĖťƅϙFĺŪŜôϟϙ ēôƅϙÍIJîϙťēôĖŘϙıÍIJƅϙèĺīīôÍČŪôŜϙſĺŘħĖIJČϙťĺϙÍîîŘôŜŜϙťēĖŜϙŕŘĺæīôıϙÍŘôϙŽôŘƅϙÍſÍŘôϙťēÍťϙĺŪŘϙèÍıŕŪŜϙÍťϙťēôϙ ĖIJťôŘŜôèťĖĺIJϙĺċϙ>ĖŘŜťϙťŘôôťϙÍIJîϙ>ĖŘŜťϙŽôIJŪôϙb(ϙĖŜϙèĺııĺIJīƅϙŪŜôîϙċĺŘϙťēĖŜϙŕŪŘŕĺŜôϟϙϙ ϙ ēôϙèēÍīīôIJČôŜϙēôϙÍīŽÍťĖĺIJϙŘıƅϙôƄŕôŘĖôIJèôŜϙťĺϙŜÍċôťƅϙÍIJîϙŜôèŪŘĖťƅϙîŪŘĖIJČϙťēôϙēĺŪŘŜϙťēôϙîÍƅϙèôIJťôŘϙĖŜϙ ĺŕôIJϙϼaĺIJîÍƅϱ>ŘĖîÍƅϠϙ͗Íıϱ͓ŕıϽϙÍŘôϙťēôIJϙôƄťôIJîôîϙĖIJťĺϙťēôϙôŽôIJĖIJČϟϙēĖŜϙèŘôÍťôŜϙÍϙèēÍīīôIJČôϙċĺŘϙĺŪŘϙ @ĺĺîϙÍıÍŘĖťÍIJϙFôÍīťēϙīĖIJĖèϙīĺèÍťôîϙÍťϙ͐͑͏ϙbϟϙÍīϙÍIJîϙîôIJťÍīϙċĖôīîŜϟϙēôŜôϙŽĺīŪIJťôôŘŜϙ ēÍŽôϙŘôèôIJťīƅϙôƄŕŘôŜŜôîϙťĺϙēôϙÍīŽÍťĖĺIJϙŘıƅϙťēÍťϙťēôƅϙċôôīϙŪIJŜÍċôϙôƄĖťĖIJČϙĺŪŘϙèīĖIJĖèϙťĺϙČôťϙťĺϙťēôĖŘϙèÍŘŜϙ æôèÍŪŜôϙťēôŘôϙÍŘôϙŜĺϙıÍIJƅϙŕôĺŕīôϙŜťÍƅĖIJČϙĺIJϙťēôϙèÍıŕŪŜϙÍċťôŘϙēĺŪŘŜϟϙϙ ϙ ēôϙŘôŜĖîôIJťŜϙſēĺϙīĖŽôϙĖIJϙēôϙÍīŽÍťĖĺIJϙŘıƅϙÍŜťīôŽĖôſϙŕÍŘťıôIJťŜϙÍťϙ͐͑͏ϙbϟϙ 0. +,"% - # .) ( / ( & 6 &# $&2 !$ ## !# # #!( + - (+# ### ( # ! - # ## +- 3 '& $ &2 25',1$1&(12 $125',1$1&($0(1',1*7$%/(2)3$5$*5$3+2)&/$86( +2)6(&7,2168%3$5$*5$3+ E 2)3$5$*5$3+2) &/$86('2)6(&7,2168%3$5$*5$3+ E 2)3$5$*5$3+ 2)&/$86('2)6(&7,2168%3$5$*5$3+ E 2) 3$5$*5$3+2)&/$86('2)6(&7,2168%3$5$*5$3+ E 2)3$5$*5$3+2)&/$86('2)6(&7,21 68%3$5$*5$3+ F DQG G 2)3$5$*5$3+2)&/$86()2)6(&7,21 3$5$*5$3+2)&/$86('2)6(&7,21&/$86( ($1'7$%/(2)&/$86((2)6(&7,21 3$5$*5$3+2)&/$86(-2)6(&7,2168%6(&7,212) 68%3$5$*5$3+&2)3$5$*5$3+2)&/$86(%2)6(&7,21 $1'9$5,286'(),1,7,2162)7+(81,),(''(9(/230(17 &2'( 7+(&20021&281&,/2)7+(&,7<2)52&+(67(5'225'$,1 6HFWLRQ7DEOHRI3DUDJUDSKRI&ODXVH+RI6HFWLRQUHODWLQJWR 'LPHQVLRQDO6WDQGDUGVRIWKH8QLILHG'HYHORSPHQW&RGHLVDPHQGHGDVIROORZV 'LPHQVLRQDO6WDQGDUGV 7DEOH0;6/RWDQG%XLOGLQJ6WDQGDUGV /RW'LPHQVLRQV 0LQLPXP /RW$UHD 1RQH /RW:LGWK 1RQH %XLOGLQJ6HWEDFNV 0LQLPXPRU0D[LPXPLQIHHW $)URQW 1RQHWR PD[LPXP %,QWHULRU6LGH 1RQH 6WUHHW6LGH 6HFWLRQ6XESDUDJUDSK E RI3DUDJUDSKRI&ODXVH'RI6HFWLRQUHODWLQJWR 8VH6SHFLILF6WDQGDUGVRIWKH8QLILHG'HYHORSPHQW&RGHLVDPHQGHGDVIROORZV E6HSDUDWLRQ5HTXLUHPHQWV 1HLJKERUKRRGUHWDLOXVHVVHOOLQJRIIVDOHOLTXRURUFDQQDELVVKDOOQRWEHORFDWHGRQDSDUFHO WKDWLV]RQHGUHVLGHQWLDOWKDWLVFORVHUWKDQIHHWWRWKHQHDUHVWSXEOLFVFKRROSDUFHOIHHWWRWKH QHDUHVWGD\FDUHDQGUHVLGHQWLDOWUHDWPHQWIDFLOLW\SXEOLFSDUNSDUFHORUIWWRDQDWWUDFWLRQZLWKLQD SXEOLFSDUNUHJXODUO\XVHGE\PLQRUVLQFOXGLQJDSOD\JURXQGRUEDOOILHOGVLPLODUXVHWKDWLVUHJXODUO\XVHG E\PLQRUV 6HFWLRQ6XESDUDJUDSK E RI3DUDJUDSKRI&ODXVH'RI6HFWLRQUHODWLQJWR 8VH6SHFLILF6WDQGDUGVRIWKH8QLILHG'HYHORSPHQW&RGHLVDPHQGHGDVIROORZV E6HSDUDWLRQ5HTXLUHPHQWV 6PDOOUHWDLOXVHVVHOOLQJRIIVDOHOLTXRURUFDQQDELVVKDOOQRWEHORFDWHGRQDSDUFHOWKDWLV]RQHG UHVLGHQWLDOWKDWLVFORVHUWKDQIHHWWRWKHQHDUHVWSXEOLFVFKRROSDUFHOIHHWWRWKH QHDUHVWGD\FDUHDQGUHVLGHQWLDOWUHDWPHQWIDFLOLW\SXEOLFSDUNSDUFHORUIWWRDQDWWUDFWLRQ ZLWKLQDSXEOLFSDUNWKDWLVUHJXODUO\XVHGE\PLQRUVLQFOXGLQJDSOD\JURXQGRUEDOOILHOGVLPLODU XVHWKDWLVUHJXODUO\XVHGE\PLQRUV 6HFWLRQ6XESDUDJUDSK E RI3DUDJUDSKRI&ODXVH'RI6HFWLRQUHODWLQJWR 8VH6SHFLILF6WDQGDUGVRIWKH8QLILHG'HYHORSPHQW&RGHLVDPHQGHGDVIROORZV E6HSDUDWLRQ5HTXLUHPHQWV 6PDOOUHWDLOXVHVVHOOLQJRIIVDOHOLTXRURUFDQQDELVVKDOOQRWEHORFDWHGRQDSDUFHOWKDWLV]RQHG UHVLGHQWLDOFORVHUWKDQIHHWWRWKHQHDUHVWSXEOLFVFKRROSDUFHOIHHWWRWKHQHDUHVWGD\ FDUHDQGUHVLGHQWLDOWUHDWPHQWIDFLOLW\SXEOLFSDUNSDUFHORUIWWRDQDWWUDFWLRQZLWKLQDSXEOLF SDUNWKDWLVUHJXODUO\XVHGE\PLQRUVLQFOXGLQJDSOD\JURXQGRUEDOOILHOGVLPLODUXVHWKDWLV UHJXODUO\XVHGE\PLQRUV 6HFWLRQ6XESDUDJUDSK E RI3DUDJUDSKRI&ODXVH'RI6HFWLRQUHODWLQJWR 8VH6SHFLILF6WDQGDUGVRIWKH8QLILHG'HYHORSPHQW&RGHLVDPHQGHGDVIROORZV E6HSDUDWLRQ5HTXLUHPHQWV 6PDOOUHWDLOXVHVVHOOLQJRIIVDOHOLTXRURUFDQQDELVVKDOOQRWEHORFDWHGRQDSDUFHOWKDWLV]RQHG UHVLGHQWLDOFORVHUWKDQIHHWWRWKHQHDUHVWSXEOLFVFKRROSDUFHOIHHWWRWKHQHDUHVWGD\ FDUHDQGUHVLGHQWLDOWUHDWPHQWIDFLOLW\SXEOLFSDUNSDUFHORUIWWRDQDWWUDFWLRQZLWKLQDSXEOLF SDUNUHJXODUO\XVHGE\PLQRUVLQFOXGLQJDSOD\JURXQGRUEDOOILHOGVLPLODUXVHWKDWLVUHJXODUO\ XVHGE\PLQRUV 6HFWLRQ7DEOHRI3DUDJUDSKRI&ODXVH'RI6HFWLRQUHODWLQJWRWKH $OORZHG8VHV7DEOHRIWKH8QLILHG'HYHORSPHQW&RGHLVKHUHE\DPHQGHGDVIROORZV 6HFWLRQHQFHWKDWGHPRQVWUDWHVWKDWFR ORFDWLRQRUSXEOLFXWLOLW\FRORFDWLRQFDQQRWEHXVHGLQOLHXRIQHZFRQVWUXFWLRQWR UHDVRQDEO\DFFRPPRGDWHWKHSURSRVHG&:76VKDOOFRQVLVWRIDQDIILGDYLWZLWK VXSSRUWLQJH[KLELWVVXEPLWWHGE\WKHDSSOLFDQWDGGUHVVLQJDOORIWKHIROORZLQJ D 7KDWQRH[LVWLQJWRZHUVWUXFWXUHRUSXEOLFXWLOLW\VWUXFWXUHZLWKLQDòPLOHUDGLXV PHHWVWKHPLQLPXPHQJLQHHULQJUHTXLUHPHQWVDQGRUODFNVDYDLODEOHVSDFHWRVXSSRUW WKHSURSRVHG&:76 E 7KDWFRORFDWLRQRUSXEOLFXWLOLW\FRORFDWLRQRIWKHSURSRVHG&:76ZRXOGFDXVH XQDYRLGDEOHHOHFWURPDJQHWLFLQWHUIHUHQFHZLWKWKHDQWHQQD V RQWKHH[LVWLQJWRZHUV VWUXFWXUHVRUSXEOLFXWLOLW\VWUXFWXUHVRUWKHDQWHQQD V RQWKHH[LVWLQJWRZHUVVWUXFWXUHV RUSXEOLFXWLOLW\VWUXFWXUHVZRXOGFDXVHLQWHUIHUHQFHZLWKWKHDSSOLFDQW¶VSURSRVHG&:76 F 7KDWWKHUHDUHRWKHUOLPLWLQJIDFWRUVWKDWUHQGHUH[LVWLQJWRZHUVVWUXFWXUHVRUSXEOLF XWLOLW\VWUXFWXUHVZLWKLQWKHòPLOHUDGLXVXQVXLWDEOH G 7KDWWKHRZQHUVRIH[LVWLQJWRZHUVVWUXFWXUHVRUSXEOLFXWLOLW\VWUXFWXUHVZLWKLQWKHò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³/HYHO´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imes New Roman]]H[WHULRUZDOOV [[2251,2487,2273,2540][11][,,][Times New Roman]] :KHUHWKHILQLVKHGJURXQGOHYHOVORSHVDZD\IURPWKH[[1417,2544,1680,2597][11][,I,][Times New Roman]]H[WHULRUZDOOV [[1681,2544,2273,2597][11][,,][Times New Roman]]WKHUHIHUHQFHSODQHVKDOOEH EXLOGLQJDQGWKH[[1780,2601,1921,2658][12][,I,][Times New Roman]]ORWOLQH [[1921,2601,1934,2658][12][,,][Times New Roman]] [[1934,2601,2196,2658][12][,,][Times New Roman]]RUZKHUHWKH [[2197,2601,2210,2658][12][,,][Times New Roman]] [[2210,2601,2274,2658][12][,I,][Times New Roman]]ORW HVWDEOLVKHGE\WKHORZHVWSRLQWVZLWKLQWKHDUHDEHWZHHQWKH [[321,2662,395,2719][12][,I,][Times New Roman]]OLQH [[396,2662,409,2719][12][,,][Times New Roman]] [[408,2662,2273,2719][12][,,][Times New Roman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³$´ 6HFWLRQ7KLVRUGLQDQFHVKDOOEHFRPHHIIHFWLYHXSRQSXEOLFDWLRQ 3$66('$1'$'237('%<7+(&20021&281&,/2)7+(&,7<2) 52&+(67(50,11(627$7+,6BBBBBBBBBB'$<2)BBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB 35(6,'(172)6$,'&20021&281&,/ $77(67BBBBBBBBBBBBBBBBBBBBBBBBBB &,7<&/(5. $33529('7+,6BBBBB'$<2)BBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB 0$<252)6$,'&,7< 6HDORIWKH&LW\RI 5RFKHVWHU0LQQHVRWD 2UG0DVWHU)HH6FKHGXOH (;+,%,7³$´ ŝƚLJŽĨZŽĐŚĞƐƚĞƌ ^ĐŚĞĚƵůĞŽĨ&ĞĞƐĂŶĚŚĂƌŐĞƐĨŽƌ>ŝĐĞŶƐĞƐ͕WĞƌŵŝƚƐ͕^ĞƌǀŝĐĞƐ͕ĂŶĚKƚŚĞƌŚĂƌŐĞƐ ŝƚLJůĞƌŬ ^ĞƌǀŝĐĞϮϬϮϲ&ĞĞϮϬϮϱ&ĞĞ ĚŵŝŶŝƐƚƌĂƚŝǀĞ&ŝŶĞƐ ,ĞĂƌŝŶŐ&ŝŶĞƐ sĂƌŝĂďůĞsĂƌŝĂďůĞ ŝƚLJ/ƐƐƵĞĚsŝŽůĂƚŝŽŶŶŽƚƐĞƉĂƌĂƚĞůLJŝĚĞŶƚŝĨŝĞĚ ΨϲϬ͘ϬϬΨϲϬ͘ϬϬ ZĞƉĞĂƚEƵƐŝĂŶĐĞ^ĞƌǀŝĐĞĂůůƐ;ĂĨƚĞƌϯͿ ΨϲϬ͘ϬϬΨϲϬ͘ϬϬ ϱƚŚEƵƐŝĂŶĐĞ^ĞƌǀŝĐĞĂůů ΨϭϮϬ͘ϬϬΨϭϮϬ͘ϬϬ ϲƚŚEƵƐŝĂŶĐĞ^ĞƌǀŝĐĞĂůů ΨϭϴϬ͘ϬϬΨϭϴϬ͘ϬϬ ϳƚŚEƵƐŝĂŶĐĞ^ĞƌǀŝĐĞĂůů ΨϮϰϬ͘ϬϬΨϮϰϬ͘ϬϬ &ĂŝůƵƌĞƚŽZĞŵŽǀĞ^ŶŽǁΘ/ĐĞĨƌŽŵZĞƐŝĚĞŶƚĂů^ŝĚĞǁĂůŬ ΨϰϬ͘ϬϬΨϰϬ͘ϬϬ ϮŶĚƐƵďƐĞƋƵĞŶƚZĞƐ͘^ŶŽǁǀŝŽůĂƚŝŽŶ ΨϲϬ͘ϬϬΨϲϬ͘ϬϬ ϯƌĚƐƵďƐĞƋƵĞŶƚZĞƐ͘^ŶŽǁǀŝŽůĂƚŝŽŶ ΨϭϮϬ͘ϬϬΨϭϮϬ͘ϬϬ &ĂŝůƵƌĞƚŽZĞŵŽǀĞ^ŶŽǁΘ/ĐĞĨƌŽŵŽŵŵĞƌĐŝĂů^ŝĚĞǁĂůŬ ΨϲϬ͘ϬϬΨϲϬ͘ϬϬ ϮŶĚƐƵďƐĞƋƵĞŶƚZĞƐ͘^ŶŽǁǀŝŽůĂƚŝŽŶ ΨϲϬ͘ϬϬΨϲϬ͘ϬϬ ϯƌĚƐƵďƐĞƋƵĞŶƚZĞƐ͘^ŶŽǁǀŝŽůĂƚŝŽŶ ΨϭϮϬ͘ϬϬΨϭϮϬ͘ϬϬ dĂůů'ƌĂƐƐΘtĞĞĚƐsŝŽůĂƚŝŽŶ ΨϴϬ͘ϬϬΨϲϬ͘ϬϬ ϮŶĚƐƵďƐĞƋƵĞŶƚǀŝŽůĂƚŝŽŶ ΨϭϭϬ͘ϬϬΨϵϬ͘ϬϬ ϯƌĚƐƵďƐĞƋƵĞŶƚǀŝŽůĂƚŝŽŶ ΨϭϰϬ͘ϬϬΨϭϮϬ͘ϬϬ ĚŵŝŶ&ŝŶĞƐƵĞƚŽ^ƚĂƚĞ ΨϲϬ͘ϬϬΨϲϬ͘ϬϬ džƉĞĚŝƚĞĚůŝĐĞŶƐĞƉƌŽĐĞƐƐŝŶŐĨĞĞ ΨϱϬ͘ϬϬΨϱϬ͘ϬϬ ĚŵŝŶŝƐƚƌĂƚŝǀĞ>ŝĐĞŶƐŝŶŐĨĞĞƐ ΨϮϱ͘ϬϬΨϮϱ͘ϬϬ ŶŝŵĂů>ŝĐĞŶƐĞƐ ΨϱϬƉůƵƐΨϭϬϬŝŶǀĞƐƚŝŐĂƚŝŽŶĨĞĞĨŽƌŶĞǁĂƉƉůŝĐĂƚŝŽŶƐΨϱϬƉůƵƐΨϭϬϬŝŶǀĞƐƚŝŐĂƚŝŽŶĨĞĞĨŽƌŶĞǁĂƉƉůŝĐĂƚŝŽŶƐ ƌĞĞĚĞƌΖƐWĞƌŵŝƚ ŚŝĐŬĞŶƐ;ϮLJĞĂƌůŝĐĞŶƐĞͿΨϰϬ͘ϬϬΨϰϬ͘ϬϬ ƵĐŬ>ŝĐĞŶƐĞ;ϮLJĞĂƌůŝĐĞŶƐĞͿΨϰϬ͘ϬϬΨϰϬ͘ϬϬ WŝŐĞŽŶΨϮϱ͘ϬϬΨϮϱ͘ϬϬ ŽŐͲĂŶŐĞƌŽƵƐΨϭϬϬ͘ϬϬΨϳϱ͘ϬϬ ƐƐĞƐƐŵĞŶƚƐ sĂƌŝĂďůĞsĂƌŝĂďůĞ ƐƐĞƐƐŵĞŶƚWƌŝŶĐŝƉĂů sĂƌŝĂďůĞsĂƌŝĂďůĞ ƐƐĞƐƐŵĞŶƚ/ŶƚĞƌĞƐƚ ůĐŽŚŽů>ŝĐĞŶƐĞƐ &Ƶůů/ŶƚŽdžŝĐĂƚŝŶŐ>ŝƋƵŽƌKŶͲ^ĂůĞ ůƵďƐ >ĞƐƐƚŚĂŶϮϬϬDĞŵďĞƌƐΨϯϬϬ͘ϬϬΨϯϬϬ͘ϬϬ ϮϬϭͲϱϬϬŵĞŵďĞƌƐΨϱϬϬ͘ϬϬΨϱϬϬ͘ϬϬ ϱϬϭͲϭ͕ϬϬϬŵĞŵďĞƌƐΨϲϱϬ͘ϬϬΨϲϱϬ͘ϬϬ ϭ͕ϬϬϭͲϮ͕ϬϬϬŵĞŵďĞƌƐΨϴϬϬ͘ϬϬΨϴϬϬ͘ϬϬ Ϯ͕ϬϬϭͲϰ͕ϬϬϬŵĞŵďĞƌƐΨϭ͕ϬϬϬ͘ϬϬΨϭ͕ϬϬϬ͘ϬϬ ϰ͕ϬϬϭͲϲ͕ϬϬϬŵĞŵďĞƌƐΨϮ͕ϬϬϬ͘ϬϬΨϮ͕ϬϬϬ͘ϬϬ DŽƌĞƚŚĂŶϲ͕ϬϬϬŵĞŵďĞƌΨϯ͕ϬϬϬ͘ϬϬΨϯ͕ϬϬϬ͘ϬϬ Ψϳ͕ϲϬϬ͘ϬϬΨϳ͕ϲϬϬ͘ϬϬ ,ŽƚĞůƐ Ψϱ͕ϰϬϬ͘ϬϬΨϱ͕ϰϬϬ͘ϬϬ ZĞƐƚĂƵƌĂŶƚƐ͕ŝŶĐůƵĚŝŶŐƌĞǁƉƵďƐ Ψϳ͕ϵϬϬ͘ϬϬΨϳ͕ϵϬϬ͘ϬϬ džĐůƵƐŝǀĞKŶͲ^ĂůĞ džĐůƵƐŝǀĞKŶͲ^ĂůĞͬZĞƐƚĂƵƌĂŶƚƐǁŝƚŚƐĞĂƚŝŶŐůĞƐƐƚŚĂŶϯϬΨϯ͕ϮϬϬ͘ϬϬΨϯ͕ϮϬϬ͘ϬϬ ŽǁůŝŶŐĞŶƚĞƌƐΨϳ͕ϲϬϬ͘ϬϬΨϳ͕ϲϬϬ͘ϬϬ dŚĞĂƚĞƌƐΨϳ͕ϲϬϬ͘ϬϬΨϳ͕ϲϬϬ͘ϬϬ EŽŶͲWƌŽĨŝƚdŚĞĂƚĞƌƐΨϰ͕ϯϬϬ͘ϬϬΨϰ͕ϯϬϬ͘ϬϬ ŝǀŝĐĞŶƚĞƌΨϰ͕ϯϬϬ͘ϬϬΨϰ͕ϯϬϬ͘ϬϬ >ŝŵŝƚŝŶŐ/ŶƚŽdžŝĐĂƚŝŶŐ>ŝƋƵŽƌKŶͲ^ĂůĞ ƌĞǁĞƌdĂƉƌŽŽŵƐΨϲϯϬ͘ϬϬΨϲϯϬ͘ϬϬ ŽĐŬƚĂŝůZŽŽŵƐΨϲϯϬ͘ϬϬΨϲϯϬ͘ϬϬ ŽŽŬŝŶŐ^ĐŚŽŽůƐΨϮϱϬ͘ϬϬΨϮϱϬ͘ϬϬ tŝŶĞKŶͲ^ĂůĞ ZĞƐƚĂƵƌĂŶƚƐ͕dŚĞĂƚĞƌƐΨϵϲϬ͘ϬϬΨϵϲϬ͘ϬϬ EŽŶͲWƌŽĨŝƚdŚĞĂƚĞƌƐΨϲϯϬ͘ϬϬΨϲϯϬ͘ϬϬ ŽůůĞŐŝĂƚĞĂƐĞďĂůůdĞĂŵƐ;ŚĂůĨLJĞĂƌͿΨϰϴϬ͘ϬϬΨϰϴϬ͘ϬϬ ĚĚ^ƚƌŽŶŐĞĞƌƚŽĂtŝŶĞ>ŝĐĞŶƐĞΨϱϰϬ͘ϬϬΨϱϰϬ͘ϬϬ ϯ͘ϮWĞƌĐĞŶƚDĂůƚ>ŝƋƵŽƌKŶͲ^ĂůĞ ZĞƐƚĂƵƌĂŶƚƐ͕KƚŚĞƌΨϱϰϬ͘ϬϬΨϱϰϬ͘ϬϬ ƌĞǁƉƵďƐΨϱϰϬ͘ϬϬΨϱϰϬ͘ϬϬ WĂƌƚŝĂůzĞĂƌ^ĂůĞƐĂƚDĐYƵŝůůĞŶWĂƌŬΨϮϳϬ͘ϬϬΨϮϳϬ͘ϬϬ ŽŶƐƵŵƉƚŝŽŶĂŶĚŝƐƉůĂLJ ΨϯϬϬ͘ϬϬΨϯϬϬ͘ϬϬ KŶͲ^ĂůĞ>ŝĐĞŶƐĞŶĚŽƌƐĞŵĞŶƚƐ ĚĚŝƚŝŽŶĂůĂƌΨϭ͕ϴϬϬ͘ϬϬΨϭ͕ϴϬϬ͘ϬϬ ^ƉĞĐŝĂů^ƵŶĚĂLJΨϮϬϬ͘ϬϬΨϮϬϬ͘ϬϬ ϮĂ͘ŵ͘^ĂůĞƐΨϭϬϬ͘ϬϬΨϭϬϬ͘ϬϬ >ŝŵŝƚĞĚŶƚĞƌƚĂŝŶŵĞŶƚŶĚŽƌƐĞŵĞŶƚΨϮϮϬ͘ϬϬΨϮϬϬ͘ϬϬ 'ĞŶĞƌĂůŶƚĞƌƚĂŝŶŵĞŶƚŶĚŽƌƐĞŵĞŶƚΨϮ͕ϮϬϬ͘ϬϬΨϮ͕ϬϬϬ͘ϬϬ dĞŵƉŽƌĂƌLJKŶͲ^ĂůĞ dĞŵƉŽƌĂƌLJ/ŶƚŽdžŝĐĂƚŝŶŐ>ŝƋƵŽƌΨϭϮϬ͘ϬϬΨϭϬϬ͘ϬϬ dĞŵƉŽƌĂƌLJEŽŶͲ/ŶƚŽdžŝĐĂƚŝŶŐDĂůƚ>ŝƋƵŽƌΨϲϬ͘ϬϬΨϱϬ͘ϬϬ KŶĞĂLJŽŶƐƵŵƉƚŝŽŶĂŶĚŝƐƉůĂLJΨϲϬ͘ϬϬΨϱϬ͘ϬϬ dĞŵƉŽƌĂƌLJ>ŝƋƵŽƌĂƚĞƌŝŶŐWĞƌŵŝƚΨϲϬ͘ϬϬΨϱϬ͘ϬϬ dĞŵƉŽƌĂƌLJdžƉĂŶƐŝŽŶŽĨŶƚĞƌƚĂŝŶŵĞŶƚΨϲϬ͘ϬϬΨϱϬ͘ϬϬ dĞŵƉŽƌĂƌLJdžƉĂŶƐŝŽŶŽĨWƌĞŵŝƐĞƐΨϭϮϬ͘ϬϬΨϭϬϬ͘ϬϬ KĨĨͲ^ĂůĞ džĐůƵƐŝǀĞ>ŝƋƵŽƌ^ƚŽƌĞͬKĨĨͲ^ĂůĞΨϭ͕ϱϬϬ͘ϬϬΨϭ͕ϱϬϬ͘ϬϬ ϯ͘ϮWĞƌĐĞŶƚDĂůƚ>ŝƋƵŽƌͬKĨĨͲ^ĂůĞΨϭϱϬ͘ϬϬΨϭϱϬ͘ϬϬ ^ŵĂůůƌĞǁĞƌdĂƉƌŽŽŵŽƌƌĞǁWƵďKĨĨͲ^ĂůĞΨϮϱϬ͘ϬϬΨϮϱϬ͘ϬϬ ŝƐƚŝůůĞƌLJKĨĨͲ^ĂůĞΨϮϱϬ͘ϬϬΨϮϱϬ͘ϬϬ KƚŚĞƌ&ĞĞƐ dƌĂŶĨĞƌ&ĞĞĨŽƌůů>ŝĐĞŶƐĞdLJƉĞƐΨϮϬϬ͘ϬϬΨϮϬϬ͘ϬϬ WĞƌŵĂŶĞŶƚdžƉĂŶƐŝŽŶŽĨWƌĞŵŝƐŝƐΨϮϬϬ͘ϬϬΨϮϬϬ͘ϬϬ /ŶǀĞƐƚŝŐĂƚŝŽŶ&ĞĞƐ ĚĚŝƚŝŽŶĂůĨĞĞĨŽƌƐƵďƐĞƋƵĞŶƚLJĞĂƌƐƉƌŝŽƌƚŽŝƐƐƵĂŶĐĞΨϭϭϬ͘ϬϬΨϭϬϬ͘ϬϬ /ŶƚŽdžŝĐĂƚŝŶŐ>ŝƋƵŽƌͬtŝŶĞͲ/ŶĚŝǀŝĚƵĂůΨϯϯϬ͘ϬϬΨϯϬϬ͘ϬϬ /ŶƚŽdžŝĐĂƚŝŶŐ>ŝƋƵŽƌͬtŝŶĞͲWĂƌƚŶĞƌƐŚŝƉƐΨϰϰϬ͘ϬϬΨϰϬϬ͘ϬϬ /ŶƚŽdžŝĐĂƚŝŶŐ>ŝƋƵŽƌͬtŝŶĞͲŽƌƉŽƌĂƚŝŽŶƐŽƌ>>ƐΨϱϱϬ͘ϬϬΨϱϬϬ͘ϬϬ ƵƐŝŶĞƐƐ>ŝĐĞŶƐĞ ƐĐŽƌƚ>ŝĐĞŶƐĞͲ/ŶĚŝǀŝĚƵĂůΨϯϯϬ͘ϬϬΨϯϬϬ͘ϬϬ ƐĐŽƌƚ^ĞƌǀŝĐĞΨϭ͕ϮϱϬ͘ϬϬΨϭ͕ϭϱϱ͘ϬϬ &ŝƌĞǁŽƌŬƐ^ĂůĞƐ;ŝƚLJůĞƌŬ&ĞĞŽŶůLJͿΨϲϬ͘ϬϬΨϲϬ͘ϬϬ /ĐĞƌĞĂŵsĞŶĚŝŶŐsĞŚŝĐůĞΨϮϮϬ͘ϬϬΨϮϬϬ͘ϬϬ DĂƐƐĂŐĞdŚĞƌĂƉŝƐƚΨϭϭϮƉůƵƐΨϭϱϬŝŶǀĞƐƚŝŐĂƚŝŽŶĨĞĞΨϭϭϮƉůƵƐΨϭϱϬŝŶǀĞƐƚŝŐĂƚŝŽŶĨĞĞ DĂƐƐĂŐĞdŚĞƌĂƉLJƵƐŝŶĞƐƐΨϮϮϬƉůƵƐΨϮϱϬŝŶǀĞƐƚŝŐĂƚŝŽŶĨĞĞΨϮϮϬƉůƵƐΨϮϱϬŝŶǀĞƐƚŝŐĂƚŝŽŶĨĞĞ DŽďŝůĞ&ŽŽĚhŶŝƚƐ DŽďŝůĞ&ŽŽĚhŶŝƚ>ŝĐĞŶƐĞΨϮϱϬ͘ϬϬΨϮϬϬ͘ϬϬ ŽǁŶƚŽǁŶŶLJƚŝŵĞKƉĞƌĂƚŝŽŶŽŶĞƐ;ϲĂŵͲŵŝĚŶŝŐŚƚͿͬƉĞƌŵŽŶƚŚΨϬ͘ϬϬΨϰϬ͘ϬϬ >ƵŶĐŚKƉĞƌĂƚŝŽŶŽŶĞƐ;ϵĂŵͲϮƉŵͿͬƉĞƌŵŽŶƚŚΨϬ͘ϬϬΨϭϬϬ͘ϬϬ >ĂƚĞEŝŐŚƚKƉĞƌĂƚŝŽŶŽŶĞƐ;ϵƉŵͲϮ͗ϯϬĂŵͿͬƉĞƌŵŽŶƚŚΨϬ͘ϬϬΨϱϬ͘ϬϬ ŽŶĞϮ;ϭƐƚǀĞ^tƐŽƵƚŚŽĨϮŶĚ^ƚ^tͿͬŶŝŐŚƚůLJΨϬ͘ϬϬΨϯϬ͘ϬϬ dĞŵƉŽƌĂƌLJDŽďŝůĞ&ŽŽĚhŶŝƚWĞƌŵŝƚ;ϭͲϰĚĂLJƐͿΨϯϬ͘ϬϬEͬ KƵƚĚŽŽƌŽŐWĞƌŵŝƚ;KŶĞͲƚŝŵĞĂƉƉůŝĐĂƚŝŽŶͿΨϯϬ͘ϬϬΨϮϱ͘ϬϬ WĂǁŶďƌŽŬĞƌƐΨϳϱϬ͘ϬϬΨϳϬϬ͘ϬϬ WƌŝǀĂƚĞĚƵůƚĂŶĐĞƌΨϯ͕ϮϬϬ͘ϬϬΨϯ͕ϬϬϬ͘ϬϬ ^ŝĚĞǁĂůŬĂĨĞƐͬ^ƚƌĞĞƚĂĨĞƐͬWĂƌŬůĞƚƐ;ϮLJĞĂƌƚĞƌŵͿΨϯϬϬ͘ϬϬΨϮϱϬ͘ϬϬ sĞŶĚŝŶŐĂƌƚ;&ŽŽĚĂƌƚsĞŶĚŝŶŐͿΨϯϳϱ͘ϬϬΨϯϱϬ͘ϬϬ ŽŶƚƌĂĐƚŽƌ>ŝĐĞŶƐĞƐ ,ĞĂƚŝŶŐŽŶƚƌĂĐƚŽƌƐΨϭϮϱ͘ϬϬΨϭϮϱ͘ϬϬ DĂƐƚĞƌ/ŶƐƚĂůůĞƌƐΨϲϬ͘ϬϬΨϲϬ͘ϬϬ ^ĞǁĞƌƐΘƌĂŝŶƐΨϵϬ͘ϬϬΨϵϬ͘ϬϬ ^ŝĚĞǁĂůŬƐͲĞŵĞŶƚΨϵϬ͘ϬϬΨϵϬ͘ϬϬ ^ŝĚĞǁĂůŬƐͲƐƉŚĂůƚΨϵϬ͘ϬϬΨϵϬ͘ϬϬ ^ŝŐŶƐͲƌĞĐƚΘDĂŝŶƚĂŝŶΨϵϬ͘ϬϬΨϵϬ͘ϬϬ dƌĞĞdƌŝŵŵĞƌΨϵϬ͘ϬϬΨϵϬ͘ϬϬ ŝƌĐƵƐ ŝƌĐƵƐůĂƐƐŵŝŶŝŵƵŵƉĞƌĚĂLJΨϲϬ͘ϬϬΨϲϬ͘ϬϬ ŝƌĐƵƐůĂƐƐŵĂdžŝŵƵŵƉĞƌĚĂLJΨϭϮϬ͘ϬϬΨϭϮϬ͘ϬϬ ŝƌĐƵƐůĂƐƐŵŝŶŝŵƵŵƉĞƌĚĂLJΨϯϬ͘ϬϬΨϯϬ͘ϬϬ ŝƌĐƵƐůĂƐƐŵĂdžŝŵƵŵƉĞƌĚĂLJΨϲϬ͘ϬϬΨϲϬ͘ϬϬ ŝƌĐƵƐůĂƐƐĨŝƌƐƚĚĂLJΨϮϬ͘ϬϬΨϮϬ͘ϬϬ ŝƌĐƵƐůĂƐƐĞĂĐŚƐƵĐĐĞĞĚŝŶŐĚĂLJΨϭϬ͘ϬϬΨϭϬ͘ϬϬ ŝƌĐƵƐůĂƐƐ;ƉĞƌĚĂLJͿΨϭϮϬ͘ϬϬΨϭϮϬ͘ϬϬ ĂƚĂWƌĂĐƚŝĐĞƐŚĂƌŐĞƐ ŽƉŝĞƐŽƌdƌĂŶƐŵŝƐƐŝŽŶŽĨůĞĐƚƌŽŶŝĐZĞĐŽƌĚƐĐƚƵĂůŽƐƚĐƚƵĂůŽƐƚ ŽƉŝĞƐŽƌdƌĂŶƐŵŝƐƐŝŽŶŽĨWĂƉĞƌZĞĐŽƌĚƐƵƉƚŽϭϬϬƉĂŐĞƐΨϬ͘ϮϱΨϬ͘Ϯϱ ŽƉŝĞƐŽƌdƌĂŶƐŵŝƐƐŝŽŶŽĨWĂƉĞƌZĞĐŽƌĚƐŽǀĞƌϭϬϬƉĂŐĞƐĐƚƵĂůŽƐƚĐƚƵĂůŽƐƚ 'ĂŵďůŝŶŐ 'ĂŵďůŝŶŐŶŶƵĂůΨϱϬϬ͘ϬϬΨϱϬϬ͘ϬϬ 'ĂŵďůŝŶŐ^ŝŶŐůĞΨϰϬ͘ϬϬΨϯϬ͘ϬϬ >ŝĐĞŶƐĞͬWĞƌŵŝƚZĞŶĞǁĂů>ĂƚĞ&ĞĞƐ ΨϬ͘ϬϬΨϬ͘ϬϬ ZĞŶĞǁĂůƐŶŽƚƐƵďŵŝƚƚĞĚĂƚůĞĂƐƚϯϬĚĂLJƐďĞĨŽƌĞĞdžƉŝƌĂƚŝŽŶ ΨϮϱ͘ϬϬΨϮϱ͘ϬϬ ^ƉĞĐŝĂůǀĞŶƚ^ƵďŵŝƐƐŝŽŶƐǁŝƚŚŝŶϯϬĂLJƐŽĨĞǀĞŶƚĚĂƚĞ ϱϬйŽĨůŝĐĞŶƐĞͬƉĞƌŵŝƚĨĞĞϱϬйŽĨůŝĐĞŶƐĞͬƉĞƌŵŝƚĨĞĞ ZĞŶĞǁĂůƐƐƵďŵŝƚƚĞĚĂĨƚĞƌĞdžƉŝƌĂƚŝŽŶďƵƚŝŶƚŚĞĐƵƌƌĞŶƚůŝĐĞŶƐĞƚĞƌŵ dƌĂŶƐƉŽƌƚĂƚŝŽŶ>ŝĐĞŶƐĞƐ ƵƐ;ƉĞƌǀĞŚŝĐůĞͿΨϰϬ͘ϬϬΨϰϬ͘ϬϬ WĞĚĂůĂƌƵƐŝŶĞƐƐ&ƌĂŶĐŚŝƐĞΨϬ͘ϬϬΨϬ͘ϬϬ WĞĚĂůĂƌƌŝǀĞƌΖƐ>ŝĐĞŶƐĞΨϯϬ͘ϬϬΨϯϬ͘ϬϬ WĞĚĂůĂƌƵƐŝŶĞƐƐ>ŝĐĞŶƐĞΨϲϬ͘ϬϬΨϲϬ͘ϬϬ WƵďůŝĐdƌĂŶƐƉŽƌƚĂƚŝŽŶ>ŝĐĞŶƐĞΨϮϬϬ͘ϬϬΨϮϬϬ͘ϬϬ WƵďůŝĐdƌĂŶƐƉŽƌƚĂƚŝŽŶ&ƌĂŶĐŚŝƐĞΨϬ͘ϬϬΨϬ͘ϬϬ dĂdžŝĐĂď>ŝĐĞŶƐĞ;ƉĞƌǀĞŚŝĐůĞͿΨϰϬ͘ϬϬΨϰϬ͘ϬϬ dĂdžŝĐĂďƌŝǀĞƌƐΨϭϭϬ͘ϬϬΨϭϭϬ͘ϬϬ dĂdžŝƌŝǀĞƌ/ŶǀĞƐƚŝŐĂƚŝŽŶ&ĞĞΨϭϬϬ͘ϬϬΨϭϬϬ͘ϬϬ dƌĂŶƐƉŽƌƚĂƚŝŽŶEĞƚǁŽƌŬŽŵƉĂŶLJΨϲ͕ϬϬϬ͘ϬϬΨϲ͕ϬϬϬ͘ϬϬ KƚŚĞƌWĞƌŵŝƚƐ ĂŶŶĞƌƐͲZĞǀŽĐĂďůĞWĞƌŵŝƚΨϮϱ͘ϬϬΨϮϱ͘ϬϬ &ŝƌĞǁŽƌŬƐŝƐƉůĂLJ;ŝƚLJůĞƌŬĨĞĞŽŶůLJͿΨϲϬ͘ϬϬΨϲϬ͘ϬϬ 'ŽůĨĂƌƚƐΨϯϬ͘ϬϬΨϯϬ͘ϬϬ DŽǀŝŶŐWĞƌŵŝƚƐͲ'ĂƌĂŐĞΨϮϱ͘ϬϬΨϮϱ͘ϬϬ DŽǀŝŶŐWĞƌŵŝƚƐͲ,ŽƵƐĞΨϭϬϬ͘ϬϬΨϭϬϬ͘ϬϬ WĞĚĚůĞƌƐΨϳϱ͘ϬϬΨϳϱ͘ϬϬ WĞĚĚůĞƌƐͲdžĞŵƉƚ&ƌŽŵ>ŝĐĞŶƐĞΨϬ͘ϬϬΨϬ͘ϬϬ WĞĚĚůĞƌƐͲZĞůΘŚĂƌKƌŐĂŶŝnjĂƚŝŽŶƐΨϬ͘ϬϬΨϬ͘ϬϬ ZĞǀŽĐĂďůĞ^ŝŐŶ;ĚŝƐĂďůĞĚĐŚŝůĚͿΨϱϬ͘ϬϬΨϱϬ͘ϬϬ ^ƉĞĐŝĂůǀĞŶƚͬ^ŽƵŶĚŵƉůŝĨŝĐĂƚŝŽŶΨϭϮϬ͘ϬϬΨϭϬϬ͘ϬϬ WĞƌĚĚŝƚŝŽŶĂůĂLJ;^ƉĞĐŝĂůǀĞŶƚͬ^ŽƵŶĚŵƉůŝĨŝĐĂƚŝŽŶͿΨϯϬ͘ϬϬΨϮϱ͘ϬϬ EŽŶZĞŐƵůĂƚĞĚĐƚŝǀŝƚŝĞƐΨϬ͘ϬϬΨϬ͘ϬϬ DŝƐĐĞůůĂŶĞŽƵƐ ůĞĐƚŝŽŶ&ŝůŝŶŐ&ĞĞƐΨϱϬ͘ϬϬΨϱϬ͘ϬϬ tĂƌĚDĂƉƐsĂƌŝĂďůĞsĂƌŝĂďůĞ ZĞƉŽƌƚƐ͕DĂƉƐ͕ŽĚĞŬƐsĂƌŝĂďůĞsĂƌŝĂďůĞ WŚŽƚŽŽƉŝĞƐΨϬ͘ϮϱΨϬ͘Ϯϱ EŽƚĂƌLJΨϱ͘ϬϬΨϱ͘ϬϬ EŽƚĂƌLJtŝƚŶĞƐƐ&ĞĞƐΨϭ͘ϬϬΨϭ͘ϬϬ ŽŵĞƐƚŝĐƉĂƌƚŶĞƌƐŚŝƉΨϲϬ͘ϬϬΨϲϬ͘ϬϬ WƵďůŝĐtŽƌŬƐ ^ĞƌǀŝĐĞϮϬϮϲ&ĞĞϮϬϮϱ&ĞĞ ^ĂŶŝƚĂƌLJ^ĞǁĞƌĂŶĚtĂƚĞƌŵĂŝŶŽŶŶĞĐƚŝŽŶŚĂƌŐĞƉĞƌĨŽŽƚŽĨĨƌŽŶƚĂŐĞΨϭϱϲ͘ϲϰΨϭϱϮ͘ϱϮ ^ĂŶŝƚĂƌLJ^ĞǁĞƌKŶůLJƉĞƌĨŽŽƚŽĨĨƌŽŶƚĂŐĞΨϴϵ͘ϭϳΨϴϲ͘ϴϯ tĂƚĞƌŵĂŝŶKŶůLJƉĞƌĨŽŽƚŽĨĨƌŽŶƚĂŐĞΨϳϵ͘ϱϮΨϳϳ͘ϰϮ ^ĞǁĞƌŽƌtĂƚĞƌƉĞƌĞŶƚĞƌůŝŶĞ&ŽŽƚ;ƚŚƌŽƵŐŚƵŶĚĞǀĞůŽƉĞĚƉƌŽƉĞƌƚLJͿΨϭϭϰ͘ϴϰΨϭϭϭ͘ϴϮ DĂdžŝŵƵŵ^ĞǁĞƌĂŶĚtĂƚĞƌŽŶŶĞĐƚŝŽŶ&ĞĞͲƉĞƌůŽƚĨŽƌĂŶLJĚĞǀĞůŽƉĞĚůŽƚŽŶĞͲŚĂůĨ ĂĐƌĞŽƌůĞƐƐƚŚĂƚĐŽŶƚĂŝŶƐĂŚĂďŝƚĂďůĞƐŝŶŐůĞĨĂŵŝůLJĚǁĞůůŝŶŐƵŶŝƚΨϭϵ͕Ϯϴϭ͘ϴϲΨϭϴ͕ϳϳϰ͘ϵϰ ^ĞǁĞƌĂŶĚtĂƚĞƌŽŶŶĞĐƚŝŽŶ&ĞĞͲƉĞƌůŽƚƉůƵƐƉĞƌƐƋƵĂƌĞĨŽŽƚŽǀĞƌŽŶĞͲŚĂůĨĂĐƌĞ ĂŶĚůĞƐƐƚŚĂŶŽŶĞĂŶĚŽŶĞͲŚĂůĨĂĐƌĞƐƚŚĂƚĐŽŶƚĂŝŶĂŚĂďŝƚĂďůĞƐŝŶŐůĞĨĂŵŝůLJĚǁĞůůŝŶŐ ƵŶŝƚsĂƌŝĂďůĞ;Ψϭϵ͕Ϯϴϭ͘ϴϲнΨϬ͘ϰϰƉĞƌƐƋĨƚͿsĂƌŝĂďůĞ;Ψϭϴ͕ϳϳϰ͘ϵϰнΨϬ͘ϰϯƉĞƌƐƋĨƚͿ ^ĞǁĞƌĂŶĚtĂƚĞƌŽŶŶĞĐƚŝŽŶ&ĞĞĂƉͲĨŽƌůŽƚƐŽŶĞĂŶĚŽŶĞͲŚĂůĨĂĐƌĞƐŽƌůĂƌŐĞƌĨŽƌ ŽŶĞŚĂďŝƚĂďůĞƐŝŶŐůĞĨĂŵŝůLJĚǁĞůůŝŶŐƵŶŝƚΨϯϴ͕ϱϲϯ͘ϳϯΨϯϳ͕ϱϰϵ͘ϴϴ ^ĞǁĞƌĂŶĚtĂƚĞƌŽŶŶĞĐƚŝŽŶ&ĞĞͲdŚĞĂĚũƵƐƚĞĚŵŝŶŝŵƵŵĐŽŶŶĞĐƚŝŽŶĨĞĞƐŚĂůůďĞ ĂƐĨŽůůŽǁƐĐĂůĐƵůĂƚĞĚďĂƐĞĚŽŶĂŵŝŶŝŵƵŵϴϬ͘ϬϬĨĞĞƚĨƌŽŶƚĂŐĞΨϭϮ͕ϱϯϬ͘ϵϱΨϭϮ͕ϮϬϭ͘ϱϬ ^ĞǁĞƌdĂƉƐϰ͟ƉŝƉĞΨϮϭϰ͘ϭϵΨϮϬϴ͘ϱϲ ^ĞǁĞƌdĂƉƐϲ͟ƉŝƉĞΨϮϵϵ͘ϴϲΨϮϵϭ͘ϵϴ ^ĞƌǀŝĐĞ>ŝŶĞZĞƉůĂĐĞŵĞŶƚŚĂƌŐĞƐtĂƚĞƌϱͬϴ͟Ͳϭ͟Ψϭ͕ϴϴϴ͘ϰϵΨϭ͕ϴϯϴ͘ϴϰ ^ĞƌǀŝĐĞ>ŝŶĞZĞƉůĂĐĞŵĞŶƚŚĂƌŐĞƐtĂƚĞƌϭͲϭͬϮ͟Ͳϯ͟ΨϮ͕ϯϲϮ͘ϴϭΨϮ͕ϯϬϬ͘ϲϵ ^ĞƌǀŝĐĞ>ŝŶĞZĞƉůĂĐĞŵĞŶƚŚĂƌŐĞƐtĂƚĞƌϰ͟Ͳϲ͟ΨϮ͕ϳϳϱ͘ϯϲΨϮ͕ϳϬϮ͘ϰϬ ^ĞƌǀŝĐĞ>ŝŶĞZĞƉůĂĐĞŵĞŶƚŚĂƌŐĞƐtĂƚĞƌϴ͟ͲϭϮ͟Ψϯ͕ϳϳϵ͘ϭϳΨϯ͕ϲϳϵ͘ϴϭ ^ĞƌǀŝĐĞ>ŝŶĞZĞƉůĂĐĞŵĞŶƚŚĂƌŐĞƐtĂƚĞƌхϭϮ͟Ψϰ͕ϳϮϱ͘ϲϬΨϰ͕ϲϬϭ͘ϯϲ ^ĞƌǀŝĐĞ>ŝŶĞZĞƉůĂĐĞŵĞŶƚŚĂƌŐĞƐ^ĞǁĞƌϰ͟Ͳϲ͟Ψϭ͕ϴϴϴ͘ϰϵΨϭ͕ϴϯϴ͘ϴϰ ^ĞƌǀŝĐĞ>ŝŶĞZĞƉůĂĐĞŵĞŶƚŚĂƌŐĞƐ^ĞǁĞƌϴ͟ͲϭϮ͟ΨϮ͕ϳϳϱ͘ϯϲΨϮ͕ϳϬϮ͘ϰϬ ^ĞƌǀŝĐĞ>ŝŶĞZĞƉůĂĐĞŵĞŶƚŚĂƌŐĞƐ^ĞǁĞƌхϭϮ͟Ψϯ͕ϳϳϵ͘ϭϳΨϯ͕ϲϳϵ͘ϴϭ tĂƚĞƌ^ĞƌǀŝĐĞǀĂŝůĂďŝůŝƚLJ&ĞĞ;ƉĞƌĚĞǀĞůŽƉĂďůĞĂĐƌĞͿΨϯ͕ϳϱϵ͘ϮϳΨϯ͕ϰϰϴ͘ϴϳ dƌƵŶŬ^ĞǁĞƌZĂƚĞĐŚĂƌŐĞĂƐƚƵŵďƌŽWŚĂƐĞϭ͗^ŝůǀĞƌƌĞĞŬ;ƉĞƌĚĞǀĞůŽƉĂďůĞĂĐƌĞͿΨϭϭ͕ϰϬϴ͘ϵϲΨϭϭ͕ϭϬϵ͘Ϭϭ dƌƵŶŬ^ĞǁĞƌZĂƚĞĐŚĂƌŐĞĂƐƚƵŵďƌŽWŚĂƐĞϭ͗ĞĂƌƌĞĞŬ;ƉĞƌĚĞǀĞůŽƉĂďůĞĂĐƌĞͿΨϭϬ͕ϮϬϳ͘ϰϲΨϵ͕ϵϯϵ͘ϭϬ dƌƵŶŬ^ĞǁĞƌZĂƚĞĐŚĂƌŐĞĂƐƚƵŵďƌŽWŚĂƐĞϭ͗tŝůůŽǁƌĞĞŬ;ƉĞƌĚĞǀĞůŽƉĂďůĞ ĂĐƌĞͿΨϮϬ͕ϮϰϬ͘ϱϵΨϭϵ͕ϳϬϴ͘ϰϲ dƌƵŶŬ^ĞǁĞƌZĂƚĞĐŚĂƌŐĞ,ĂĚůĞLJsĂůůĞLJ;ƉĞƌĚĞǀĞůŽƉĂďůĞĂĐƌĞͿΨϴ͕ϮϮϯ͘ϯϬΨϴ͕ϬϬϳ͘ϭϬ dƌƵŶŬ^ĞǁĞƌZĂƚĞĐŚĂƌŐĞ<ŝŶŐƐZƵŶ;ƉĞƌĚĞǀĞůŽƉĂďůĞĂĐƌĞͿΨϭϯ͕ϱϮϮ͘ϵϴΨϭϯ͕ϭϲϳ͘ϰϲ dƌƵŶŬ^ĞǁĞƌZĂƚĞĐŚĂƌŐĞtĞƐƚƵŵďƌŽ;ƉĞƌĚĞǀĞůŽƉĂďůĞĂĐƌĞͿΨϭϳ͕ϵϯϰ͘ϳϭΨϭϳ͕ϰϲϯ͘ϮϬ dƌƵŶŬ^ĞǁĞƌZĂƚĞĐŚĂƌŐĞEŽƌƚŚǁĞƐƚdĞƌƌŝƚŽƌLJ;ƉĞƌĚĞǀĞůŽƉĂďůĞĂĐƌĞͿΨϮϴ͕ϴϲϬ͘ϰϵΨϮϴ͕ϭϬϭ͘ϳϱ dƌƵŶŬ^ĞǁĞƌZĂƚĞĐŚĂƌŐĞ^ŽƵƚŚƵŵďƌŽ;ƉĞƌĚĞǀĞůŽƉĂďůĞĂĐƌĞͿΨϰϰ͕ϲϬϴ͘ϲϰΨϰϯ͕ϰϯϱ͘ϴϳ ^ĂŶŝƚĂƌLJ^ĞǁĞƌǀĂŝůĂďŝůŝƚLJŚĂƌŐĞŽǁŶƐƚƌĞĂŵĂƉĂĐŝƚLJ/ŵƉƌŽǀĞŵĞŶƚƐ;ƉĞƌ ĚĞǀĞůŽƉĂďůĞĂĐƌĞͿΨϭ͕ϰϭϲ͘ϳϵΨϭ͕ϯϳϵ͘ϱϱ ^ƚŽƌŵtĂƚĞƌDĂŶĂŐĞŵĞŶƚWůĂŶƌĞĂŚĂƌŐĞƐ;^tDWͿ;ƉĞƌĚĞǀĞůŽƉĂďůĞĂĐƌĞĨŽƌ >ĂŶĚhƐĞ&ĂĐƚŽƌϭ͘ϬͿΨϰ͕ϯϳϱ͘ϵϰΨϰ͕ϮϲϬ͘ϴϵ ^ĞĐƚŝŽŶϳ^tDW;ƉĞƌŐƌŽƐƐĂĐƌĞĨŽƌ>ĂŶĚhƐĞ&ĂĐƚŽƌϭ͘ϬͿΨϮ͕ϭϰϭ͘ϵϭΨϮ͕Ϭϴϱ͘ϲϬ EtdĞƌƌŝƚŽƌŝĞƐ^tDW;ƉĞƌŐƌŽƐƐĂĐƌĞĨŽƌ>ĂŶĚhƐĞ&ĂĐƚŽƌϭ͘ϬͿΨϮ͕ϵϲϳ͘ϳϯΨϮ͕ϴϴϵ͘ϳϭ ^ƚƌĞĞƚZĞĐŽŶƐƚƵĐƚŝŽŶ&ĞĞƐĂƌĞĂůůďĂƐĞĚŽŶƉĞƌĨŽŽƚŽĨĨƌŽŶƚĂŐĞĐĂůĐƵůĂƚŝŽŶƐ͗ ^ƚƌĞĞƚZĞĐŽŶƐƚƌƵĐƚŝŽŶZĞƐŝĚĞŶƚŝĂůŽŶĞƐΨϭϯϮ͘ϱϭΨϭϮϵ͘Ϭϯ ^ƚƌĞĞƚZĞĐŽŶƐƚƌƵĐƚŝŽŶŽŵŵĞƌĐŝĂůͬ/ŶĚƵƐƚƌŝĂůŽŶĞƐΨϮϭϮ͘ϬϭΨϮϬϲ͘ϰϰ ^ƚƌĞĞƚZĞĐŽŶƐƚƌƵĐƚŝŽŶͬŽŶĞƐΨϮϰϳ͘ϯϱΨϮϰϬ͘ϴϱ ZĞŚĂďŝůŝƚĂƚŝŽŶ&ĞĞƐƉĞƌĨŽŽƚŽĨĨƌŽŶƚĂŐĞ;ĂƐĂŶĂůƚĞƌŶĂƚŝǀĞƚŽZĞĐŽŶƐƚƌƵĐƚŝŽŶĂƚ KǁŶĞƌΖƐZĞƋƵĞƐƚͿ ^ƚƌĞĞƚZĞĐŽŶƐƚƌƵĐƚŝŽŶZĞƐŝĚĞŶƚŝĂůŽŶĞƐΨϭϬϲ͘ϬϭΨϭϬϯ͘ϮϮ ^ƚƌĞĞƚZĞĐŽŶƐƚƌƵĐƚŝŽŶŽŵŵĞƌĐŝĂůͬ/ŶĚƵƐƚƌŝĂůŽŶĞƐΨϭϳϮ͘ϮϲΨϭϲϳ͘ϳϯ ^ƚƌĞĞƚZĞĐŽŶƐƚƌƵĐƚŝŽŶͬŽŶĞƐΨϭϵϴ͘ϳϲΨϭϵϯ͘ϱϰ ^ƚƌĞĞƚZĞƐƵƌĨĂĐŝŶŐƉĞƌĨŽŽƚŽĨĨƌŽŶƚĂŐĞ;ĂƐĂŶĂůƚĞƌŶĂƚŝǀĞƚŽZĞĐŽŶƐƚƌƵĐƚŝŽŶĂƚ KǁŶĞƌΖƐZĞƋƵĞƐƚͿ ^ƚƌĞĞƚZĞĐŽŶƐƚƌƵĐƚŝŽŶZĞƐŝĚĞŶƚŝĂůŽŶĞƐΨϯϱ͘ϯϰΨϯϰ͘ϰϭ ^ƚƌĞĞƚZĞĐŽŶƐƚƌƵĐƚŝŽŶŽŵŵĞƌĐŝĂůͬ/ŶĚƵƐƚƌŝĂůŽŶĞƐΨϱϯ͘ϬϬΨϱϭ͘ϲϭ ^ƚƌĞĞƚZĞĐŽŶƐƚƌƵĐƚŝŽŶͬŽŶĞƐΨϱϯ͘ϬϬΨϱϭ͘ϲϭ ^ƚƌĞĞƚͬůůĞLJZĞŚĂďŝůŝƚĂƚŝŽŶƉĞƌĨŽŽƚ ^ƚƌĞĞƚZĞŚĂďŝůŝƚĂƚŝŽŶZĞƐŝĚĞŶƚŝĂůŽŶĞƐΨϳϬ͘ϲϳΨϲϴ͘ϴϭ ^ƚƌĞĞƚZĞŚĂďŝůŝƚĂƚŝŽŶŽŵŵĞƌĐŝĂůͬ/ŶĚƵƐƚƌŝĂůŽŶĞƐΨϭϭϰ͘ϴϰΨϭϭϭ͘ϴϮ ^ƚƌĞĞƚZĞŚĂďŝůŝƚĂƚŝŽŶͬŽŶĞƐΨϭϯϮ͘ϱϭΨϭϮϵ͘Ϭϯ ůůĞLJZĞĐŽŶƐƚƌƵĐƚŝŽŶ;ƉĞƌĨŽŽƚŽĨĨƌŽŶƚĂŐĞͿZĞƐŝĚĞŶƚŝĂůŽŶĞƐ;ŝƚƵŵŝŶŽƵƐͿΨϰϬ͘ϬϲΨϯϵ͘Ϭϭ ůůĞLJZĞĐŽŶƐƚƌƵĐƚŝŽŶ;ƉĞƌĨŽŽƚŽĨĨƌŽŶƚĂŐĞͿŽǁŶƚŽǁŶŽŵŵĞƌĐŝĂůŽŶĞƐ ;ŽŶĐƌĞƚĞͿΨϭϭϴ͘ϳϭΨϭϭϱ͘ϱϵ ^ƚƌĞĞƚZĞƐƵƌĨĂĐŝŶŐƉĞƌĨŽŽƚŽĨĨƌŽŶƚĂŐĞ;ĂƐĂŶĂůƚĞƌŶĂƚŝǀĞƚŽZĞŚĂďŝůŝƚĂƚŝŽŶĂƚ KǁŶĞƌΖƐZĞƋƵĞƐƚͿ ^ƚƌĞĞƚZĞƐƵƌĨĂĐŝŶŐZĞƐŝĚĞŶƚŝĂůŽŶĞƐΨϯϱ͘ϯϰΨϯϰ͘ϰϭ ^ƚƌĞĞƚZĞƐƵƌĨĂĐŝŶŐŽŵŵĞƌĐŝĂůͬ/ŶĚƵƐƚƌŝĂůŽŶĞƐΨϱϯ͘ϬϬΨϱϭ͘ϲϭ ^ƚƌĞĞƚZĞƐƵƌĨĂĐŝŶŐͬŽŶĞƐΨϱϯ͘ϬϬΨϱϭ͘ϲϭ ^ŝĚĞǁĂůŬͬƉƉƌŽĂĐŚͬWĞĚĞƐƚƌŝĂŶZĂŵƉ Ψϭϱ͘ϲϲΨϭϱ͘Ϯϱ ^ŝĚĞǁĂůŬϰ͟ŽŶĐƌĞƚĞ;ƉĞƌ^&Ϳ Ψϭϳ͘ϮϵΨϭϲ͘ϴϰ ^ŝĚĞǁĂůŬϱ͟ŽŶĐƌĞƚĞ;ƉĞƌ^&Ϳ ΨϮϬ͘ϱϱΨϮϬ͘Ϭϭ ^ŝĚĞǁĂůŬϲ͟ŽŶĐƌĞƚĞ;ƉĞƌ^&Ϳ ΨϮϱ͘ϰϯΨϮϰ͘ϳϲ ^ŝĚĞǁĂůŬϳ͟ŽŶĐƌĞƚĞ;ƉĞƌ^&Ϳ ΨϭϬ͘ϳϴΨϭϬ͘ϱϬ ƉƉƌŽĂĐŚϯ͟ŝƚƵŵŝŶŽƵƐƌŝǀĞǁĂLJ;ƉĞƌ^&Ϳ ΨϭϮ͘ϮϯΨϭϭ͘ϵϭ ƉƉƌŽĂĐŚϲ͟ŽŶĐƌĞƚĞƌŝǀĞǁĂLJ;ƉĞƌ^&Ϳ Ψϭϯ͘ϰϱΨϭϯ͘ϭϬ ƉƉƌŽĂĐŚϳ͟ŽŶĐƌĞƚĞƌŝǀĞǁĂLJ;ƉĞƌ^&Ϳ ΨϮ͘ϱϳΨϮ͘ϱϬ ŽŶĐƌĞƚĞZĞŵŽǀĂů;ƉĞƌ^&Ϳ ŽŶĐƌĞƚĞƵƌďΘ'ƵƚƚĞƌZĞŵŽǀĂůŽĨdžŝƐƚŝŶŐ;ƉĞƌůŝŶĞĂůĨŽŽƚͿΨϮϬ͘ϱϰΨϮϬ͘ϬϬ ŽŶĐƌĞƚĞƵƌďΘ'ƵƚƚĞƌŽƌ^ƚLJůĞŽŶĐƌĞƚĞƵƌď;ƉĞƌůŝŶĞĂůĨŽŽƚͿΨϱϲ͘ϵϲΨϱϱ͘ϰϲ ŽŶĐƌĞƚĞƵƌďΘ'ƵƚƚĞƌůĂĐŬƚŽƉĂŶĚĂĐŬĨŝůůZĞƐƚŽƌĂƚŝŽŶ;ƉĞƌůŝŶĞĂůĨŽŽƚͿΨϭϬ͘ϮϳΨϭϬ͘ϬϬ ZĞƐƚŽƌĂƚŝŽŶŽĨŽŶĐƌĞƚĞtŽƌŬ;ďĂĐŬĨŝůůǁŝƚŚĚŝƌƚ͕ĂƉƉůLJƐĞĞĚͿ;ƉĞƌ^&ͿΨϯ͘ϱϵΨϯ͘ϱϬ WĞĚĞƐƚƌŝĂŶZĂŵƉƐ WĞĚĞƐƚƌŝĂŶZĂŵƉ;^ƚĂŶĚĂƌĚ/ŶƚĞƌƐĞĐƚŝŽŶŽŵďŝŶĞĚŝƌĞĐƚŝŽŶĂůͿΨϰ͕ϵϱϵ͘ϴϲΨϰ͕ϴϮϵ͘ϰϳ WĞĚĞƐƚƌŝĂŶZĂŵƉ;^ƚĂŶĚĂƌĚ/ŶƚĞƌƐĞĐƚŝŽŶKŶĞͲtĂLJŝƌĞĐƚŝŽŶĂůΨϭ͕ϵϴϴ͘ϭϲΨϭ͕ϵϯϱ͘ϵϬ WĞĚĞƐƚƌŝĂŶZĂŵƉ;EŽŶdƌĂĚŝƚŝŽŶĂů/ŶƚĞƌƐĞĐƚŝŽŶͿĐƚƵĂůŽƐƚĐƚƵĂůŽƐƚ WĞĚĞƐƚƌŝĂŶZĂŵƉDŝĚůŽĐŬŽŶŶĞĐƚŝŽŶϱΖΨϭ͕ϵϴϴ͘ϭϲΨϭ͕ϵϯϱ͘ϵϬ WĞĚĞƐƚƌŝĂŶZĂŵƉDŝĚůŽĐŬŽŶŶĞĐƚŝŽŶdƌĂŝůΨϰ͕Ϭϰϰ͘ϴϵΨϯ͕ϵϯϴ͘ϱϱ ^ƚƌĞĞƚDĂŝŶƚĞŶĂŶĐĞŝǀŝƐŝŽŶ&ĞĞƐ ^ƚƌĞĞƚKƉĞŶŝŶŐZĞƉĂŝƌ;ƉĞƌƐƋƵĂƌĞĨŽŽƚͿŝƚƵŵŝŶŽƵƐWĂƚĐŚŝŶŐΨϮϱϬŵŝŶŝŵƵŵĐŚĂƌŐĞ͖Ψϭϭ͘ϱϵƉĞƌĂĚĚŝƚŝŽŶĂůƐƋƵĂƌĞĨŽŽƚΨϮϱϬŵŝŶŝŵƵŵĐŚĂƌŐĞ͖Ψϭϭ͘ϱϵƉĞƌĂĚĚŝƚŝŽŶĂůƐƋƵĂƌĞĨŽŽƚ ^ƚƌĞĞƚKƉĞŶŝŶŐZĞƉĂŝƌ;ƉĞƌƐƋƵĂƌĞĨŽŽƚͿŽŶĐƌĞƚĞ^ƚƌĞĞƚWĂŶĞůZĞƉůĂĐĞŵĞŶƚƐΨϰϯ͘ϬϲΨϰϭ͘ϵϯ DĂŝůďŽdžĂŵĂŐĞZĞŝŵďƵƌƐĞŵĞŶƚͲDĂƚĞƌŝĂůƐŽŶůLJĂŶĚƐƵďŵŝƐƐŝŽŶŽĨƌĞĐĞŝƉƚ;ƐͿ ƌĞƋƵŝƌĞĚ͘hƉƚŽΨϭϮϱ͘ϬϬhƉƚŽΨϭϮϱ͘ϬϬ ^ĞĂůŽĂƚŝŶŐĨŽƌEĞǁƉƵďůŝĐ^ƚƌĞĞƚƐ;ƐƋLJĚͿΨϭ͘ϴϲΨϭ͘ϴϭ ^ĞĂůŽĂƚĂŵĂŐĞZĞƉĂŝƌ;^zͿΨϳϱϬŵŝŶŝŵƵŵĐŚĂƌŐĞ͖Ψϱ͘ϮϴƉĞƌĂĚĚŝƚŝŽŶĂůƐƋƵĂƌĞLJĂƌĚΨϳϱϬŵŝŶŝŵƵŵĐŚĂƌŐĞ͖Ψϱ͘ϭϰƉĞƌĂĚĚŝƚŝŽŶĂůƐƋƵĂƌĞLJĂƌĚ DĂŶŚŽůĞŽƌŝŶŐΨϯϬϬŵŽďŝůŝnjĂƚŝŽŶĐŚĂƌŐĞƉůƵƐΨϳϱƉĞƌĞĂĐŚΨϯϬϬŵŽďŝůŝnjĂƚŝŽŶĐŚĂƌŐĞƉůƵƐΨϳϱƉĞƌĞĂĐŚ dĂŶĚĞŵƵŵƉdƌƵĐŬ;&DηϴϳϮϮͿΨϵϰ͘ϵϰ͖ƉůƵƐϭƋƵŝƉŵĞŶƚKƉĞƌĂƚŽƌΨϵϰ͘ϵϰ͖ƉůƵƐϭƋƵŝƉŵĞŶƚKƉĞƌĂƚŽƌ tŚĞĞů>ŽĂĚĞƌϮz;&DηϴϯϵϯͿΨϳϲ͘ϲϮ͖ƉůƵƐϭƋƵŝƉŵĞŶƚKƉĞƌĂƚŽƌΨϳϲ͘ϲϮ͖ƉůƵƐϭƋƵŝƉŵĞŶƚKƉĞƌĂƚŽƌ DŝŶŝdžĐĂǀĂƚŽƌ;&DηϴϮϴϬͿΨϰϴ͘ϵϳ͖ƉůƵƐϭƋƵŝƉŵĞŶƚKƉĞƌĂƚŽƌΨϰϴ͘ϵϳ͖ƉůƵƐϭƋƵŝƉŵĞŶƚKƉĞƌĂƚŽƌ dƌĂĐƚŽƌĂĐŬŚŽĞ;&DηϴϰϬϭͿΨϲϮ͘ϲϮ͖ƉůƵƐϭƋƵŝƉŵĞŶƚKƉĞƌĂƚŽƌΨϲϮ͘ϲϮ͖ƉůƵƐϭƋƵŝƉŵĞŶƚKƉĞƌĂƚŽƌ ^ŬŝĚ>ŽĂĚĞƌ;&DηϴϱϰϮͿΨϳϴ͘ϴϴ͖ƉůƵƐϭƋƵŝƉŵĞŶƚKƉĞƌĂƚŽƌΨϳϴ͘ϴϴ͖ƉůƵƐϭƋƵŝƉŵĞŶƚKƉĞƌĂƚŽƌ ^ĞǁĞƌsĂĐͬ:ĞƚdƌƵĐŬ;&DηϴϳϭϰͲϯͿΨϵϳ͘ϳϲ͖ƉůƵƐϮ^ĞǁĞƌKƉĞƌĂƚŽƌƐΨϵϳ͘ϳϲ͖ƉůƵƐϮ^ĞǁĞƌKƉĞƌĂƚŽƌƐ ^ĞǁĞƌ:Ğƚ;:ZĂƚĞͿΨϰϬ͘ϬϬ͖ƉůƵƐϮ^ĞǁĞƌKƉĞƌĂƚŽƌƐΨϰϬ͘ϬϬ͖ƉůƵƐϮ^ĞǁĞƌKƉĞƌĂƚŽƌƐ ^ƚƌĞĞƚ^ǁĞĞƉĞƌ;&DηϴϭϱϳͿΨϭϴϰ͘ϮϬ͖ƉůƵƐϭƋƵŝƉŵĞŶƚKƉĞƌĂƚŽƌΨϭϴϰ͘ϮϬ͖ƉůƵƐϭƋƵŝƉŵĞŶƚKƉĞƌĂƚŽƌ ϭͲƚŽŶWŝĐŬƵƉ;&DηϴϴϬϴͿΨϯϭ͘ϴϭ͖ƉůƵƐϭƋƵŝƉŵĞŶƚKƉĞƌĂƚŽƌΨϯϭ͘ϴϭ͖ƉůƵƐϭƋƵŝƉŵĞŶƚKƉĞƌĂƚŽƌ dŽǁŵĂƐƚĞƌdƌĂŝůĞƌ;&DηϴϱϵϭͿ;:ZĂƚĞͿΨϭϲ͘ϱϳ͖ƉůƵƐϭƋƵŝƉŵĞŶƚKƉĞƌĂƚŽƌΨϭϲ͘ϱϳ͖ƉůƵƐϭƋƵŝƉŵĞŶƚKƉĞƌĂƚŽƌ ƋƵŝƉŵĞŶƚKƉĞƌĂƚŽƌ,ŽƵƌůLJZĂƚĞΨϱϯ͘ϬϬΨϱϬ͘ϵϲ ƋƵŝƉŵĞŶƚKƉĞƌĂƚŽƌ,ŽƵƌůLJZĂƚĞKdΨϳϮ͘ϮϮΨϲϵ͘ϰϯ ƋƵŝƉŵĞŶƚKƉĞƌĂƚŽƌͲ^ĞǁĞƌ,ŽƵƌůLJZĂƚĞΨϱϲ͘ϬϱΨϱϯ͘ϵϬ ƋƵŝƉŵĞŶƚKƉĞƌĂƚŽƌͲ^ĞǁĞƌ,ŽƵƌůLJZĂƚĞKdΨϳϲ͘ϯϳΨϳϯ͘ϰϯ ůůĞƋƵŝƉŵĞŶƚĨĞĞƐǁŝůůďĞƉĞƌĐƵƌƌĞŶƚLJĞĂƌ&DůůĞƋƵŝƉŵĞŶƚĨĞĞƐǁŝůůďĞƉĞƌĐƵƌƌĞŶƚLJĞĂƌ&D ^ĐŚĞĚƵůĞŽĨƋƵŝƉŵĞŶƚZĂƚĞƐ^ĐŚĞĚƵůĞŽĨƋƵŝƉŵĞŶƚZĂƚĞƐ WƵďůŝĐtŽƌŬƐƋƵŝƉŵĞŶƚ&ĞĞƐ ĞǀĞůŽƉŵĞŶƚZĞǀŝĞǁ&ĞĞ ŽĐƵŵĞŶƚZĞǀŝĞǁ&ĞĞΨϭϮϴ͘ϰϬΨϭϮϱ͘ϬϮ ĞǀĞůŽƉŵĞŶƚŚĂƌŐĞZĞǀŝĞǁ^ƚĂƚĞŵĞŶƚΨϰϳ͘ϰϵΨϰϲ͘Ϯϰ ĞǀĞůŽƉŵĞŶƚŚĂƌŐĞZĞǀŝĞǁ^ƚĂƚĞŵĞŶƚ;džƉƌĞƐƐZĞǀŝĞǁͿΨϳϭ͘ϮϯΨϲϵ͘ϯϲ ŝƚLJKǁŶĞƌŽŶƚƌĂĐƚƐƉƉůŝĐĂƚŝŽŶ&ĞĞΨϭϱϬ͘ϬϬΨϭϱϬ͘ϬϬ ĞǀĞůŽƉŵĞŶƚŐƌĞĞŵĞŶƚƐƉƉůŝĐĂƚŝŽŶ&ĞĞΨϱϰϲ͘ϬϬΨϱϰϲ͘ϬϬ ^ƵƉƉůĞŵĞŶƚĂůĞǀĞůŽƉŵĞŶƚŐƌĞĞŵĞŶƚƐƉƉůŝĐĂƚŝŽŶ&ĞĞΨϮϰϲ͘ϬϬΨϮϰϲ͘ϬϬ ZĞǀŽĐĂďůĞWĞƌŵŝƚƐƉƉůŝĐĂƚŝŽŶ&ĞĞΨϮϰϲ͘ϬϬΨϮϰϲ͘ϬϬ hƚŝůŝƚLJŽŶŶĞĐƚŝŽŶĂŐƌĞĞŵĞŶƚƐƉƉůŝĐĂƚŝŽŶ&ĞĞΨϭϰϲ͘ϬϬΨϭϰϲ͘ϬϬ ŽŶƚƌŝďƵƚŝŽŶĂŐƌĞĞŵĞŶƚƐƉƉůŝĐĂƚŝŽŶ&ĞĞΨϭϰϲ͘ϬϬΨϭϰϲ͘ϬϬ DĂŝŶƚĞŶĂŶĐĞŐƌĞĞŵĞŶƚƐƉƉůŝĐĂƚŝŽŶ&ĞĞΨϭϰϲ͘ϬϬΨϭϰϲ͘ϬϬ EŽŝƐĞΘŝƌƐƉĂĐĞŐƌĞĞŵĞŶƚƐƉƉůŝĐĂƚŝŽŶ&ĞĞΨϭϰϲ͘ϬϬΨϭϰϲ͘ϬϬ WĞĚĞƐƚƌŝĂŶ&ĂĐŝůŝƚLJŐƌĞĞŵĞŶƚƐƉƉůŝĐĂƚŝŽŶ&ĞĞΨϭϰϲ͘ϬϬΨϭϰϲ͘ϬϬ ƐƐĞƐƐŵĞŶƚĂŐƌĞĞŵĞŶƚƐƉƉůŝĐĂƚŝŽŶ&ĞĞΨϭϰϲ͘ϬϬΨϭϰϲ͘ϬϬ DŝƐĐĞůůĂŶĞŽƵƐŐƌĞĞŵĞŶƚƐƉƉůŝĐĂƚŝŽŶ&ĞĞΨϭϰϲ͘ϬϬΨϭϰϲ͘ϬϬ ĂƐĞŵĞŶƚƐƉƉůŝĐĂƚŝŽŶ&ĞĞΨϭϰϲ͘ϬϬΨϭϰϲ͘ϬϬ ĞĞĚƐƉƉůŝĐĂƚŝŽŶ&ĞĞΨϭϰϲ͘ϬϬΨϭϰϲ͘ϬϬ ŽŶĐƌĞƚĞ^ŝĚĞǁĂůŬWĞƌŵŝƚ&ĞĞͲĚũƵƐƚŵĞŶƚƐKŶůLJ;ŵƵĚũĂĐŬŝŶŐ͕ůŝĨƚŝŶŐ͕ŚŽƌŝnjŽŶƚĂů ĐƵƚƚŝŶŐ͕ŽƌŐƌŝŶĚŝŶŐΨϬ͘ϬϬΨϬ͘ϬϬ ŽŶĐƌĞƚĞ^ŝĚĞǁĂůŬWĞƌŵŝƚ&ĞĞͲZĞƉůĂĐĞŵĞŶƚKŶůLJΨϭϬϬ͘ϬϬΨϭϬϬ͘ϬϬ ŽŶĐƌĞƚĞ^ŝĚĞǁĂůŬWĞƌŵŝƚ&ĞĞͲZĞƉůĂĐĞŵĞŶƚKŶůLJZĞͲ/ŶƐƉĞĐƚŝŽŶΨϭϬϬ͘ϬϬΨϭϬϬ͘ϬϬ ŽŶĐƌĞƚĞ^ŝĚĞǁĂůŬ͕ƌŝǀĞǁĂLJƉƉƌŽĂĐŚ͕ƵƌďΘƵƚƚĞƌŽƌ^ƚƌĞĞƚWĂŶĞůWĂƚĐŚŝŶŐ WĞƌŵŝƚ&ĞĞͲEĞǁΨϭϬϬ͘ϬϬΨϭϬϬ͘ϬϬ ŽŶĐƌĞƚĞ^ŝĚĞǁĂůŬ͕ƌŝǀĞǁĂLJƉƉƌŽĂĐŚ͕ƵƌďΘƵƚƚĞƌŽƌ^ƚƌĞĞƚWĂŶĞůWĂƚĐŚŝŶŐ WĞƌŵŝƚ&ĞĞͲZĞͲ/ŶƐƉĞĐƚŝŽŶΨϭϬϬ͘ϬϬΨϭϬϬ͘ϬϬ ƐƉŚĂůƚƌŝǀĞǁĂLJƉƉƌŽĂĐŚŽƌ^ƚƌĞĞƚWĂƚĐŚŝŶŐWĞƌŵŝƚ&ĞĞΨϮϱ͘ϬϬΨϮϱ͘ϬϬ ^ĞǁĞƌΘtĂƚĞƌŽŶŶĞĐƚŝŽŶWĞƌŵŝƚ&ĞĞͲWĞƌhŶŝƚΨϭϬϬ͘ϬϬΨϭϬϬ͘ϬϬ ^ĞǁĞƌΘtĂƚĞƌŽŶŶĞĐƚŝŽŶWĞƌŵŝƚ&ĞĞͲZĞͲ/ŶƐƉĞĐƚŝŽŶΨϭϬϬ͘ϬϬΨϭϬϬ͘ϬϬ dŝĞƌϭKďƐƚƌƵĐƚŝŽŶWĞƌŵŝƚ&ĞĞΨϮϱ͘ϬϬΨϮϱ͘ϬϬ dŝĞƌϮKďƐƚƌƵĐƚŝŽŶWĞƌŵŝƚ&ĞĞΨϭϬϬ͘ϬϬΨϭϬϬ͘ϬϬ dŝĞƌϮKďƐƚƌƵĐƚŝŽŶWĞƌŵŝƚ&ĞĞĨŽƌEŽŶͲŽŵƉůŝĂŶƚ^ŝƚĞƐΨϮϬϬ͘ϬϬΨϮϬϬ͘ϬϬ KďƐƚƌƵĐƚŝŽŶƌĞĂŚĂƌŐĞ;ƉĞƌƐƋƵĂƌĞĨŽŽƚ͕ƉĞƌĚĂLJͿΨϬ͘ϬϬϮϱΨϬ͘ϬϬϮϱ dƌĂĨĨŝĐKǀĞƌƐŝnjĞsĞŚŝĐůĞWĞƌŵŝƚ&ĞĞΨϮϱ͘ϬϬΨϮϱ͘ϬϬ dƌĂĨĨŝĐ/ŵƉĂĐƚ^ƚƵĚLJZĞǀŝĞǁ&ĞĞ;ƉĞƌĂƉƉůŝĐĂƚŝŽŶͿΨϯϮϬ͘ϬϬΨϯϮϬ͘ϬϬ ^ƚƌĞĞƚ^ŝŐŶ&ĞĞƐ;ƉĞƌƐƋƵĂƌĞĨŽŽƚͿΨϵϯ͘ϱϵΨϵϭ͘ϭϯ ΨϭϬ͘ϬϬEͬ dƌĂĨĨŝĐĞůŝŶĞĂƚŽƌdĞŵƉŽƌĂƌLJZĞŵŽǀĂů;ĞĂĐŚͿ ^ƚŽƌŵtĂƚĞƌhƚŝůŝƚLJ&ĞĞƐ ^ƚŽƌŵtĂƚĞƌhƚŝůŝƚLJ&ĞĞ;^th&ͿZĂƚĞ;ĐĂůĐƵůĂƚŝŽŶ͕ŵŽŶƚŚůLJ͕ƉĞƌƉĂƌĐĞůͿ ƋƵĂƚŝŽŶ͗>ĂŶĚhƐĞ&ĂĐƚŽƌdždŽƚĂůĐƌĞƐdž^ƚŽƌŵtĂƚĞƌhƚŝůŝƚLJZĂƚĞdž ƌĞĚŝƚ&ĂĐƚŽƌΎΎƌĞĚŝƚĨĂĐƚŽƌŝƐŽŶůLJĂƉƉůŝĐĂďůĞŝĨĐƵƐƚŽŵĞƌĂƉƉůŝĞĚĂŶĚƋƵĂůŝĨŝĞƐ ĨŽƌĐƌĞĚŝƚ͘sĂƌŝĂďůĞ;>h&dždŽƚĂůĐƌĞƐdžΨϮϮ͘ϱϲdžƌĞĚŝƚ&ĂĐƚŽƌͿsĂƌŝĂďůĞ;>h&dždŽƚĂůĐƌĞƐdžΨϮϮ͘ϱϲdžƌĞĚŝƚ&ĂĐƚŽƌͿ ^ƚŽƌŵtĂƚĞƌhƚŝůŝƚLJ&ĞĞ;^th&ͿDŽŶƚŚůLJƵƐƚŽŵĞƌŚĂƌŐĞ;ƉĞƌƉĂƌĐĞůͿΨϱ͘ϬϬΨϱ͘ϬϬ tĂƐƚĞǁĂƚĞƌ&ĞĞƐ tĂƐƚĞǁĂƚĞƌ&ĞĞ^ĞǁĞƌŚĂƌŐĞ&ŝdžĞĚŚĂƌŐĞ;ƉĞƌŵŽŶƚŚͿΨϭϵ͘ϰϬΨϭϵ͘ϯϬ tĂƐƚĞǁĂƚĞƌ&ĞĞ^ĞǁĞƌŚĂƌŐĞYƵĂŶƚŝƚLJŚĂƌŐĞ;ƉĞƌĐĐĨͿΨϰ͘ϯϮΨϰ͘Ϯϵ tĂƐƚĞǁĂƚĞƌ&ĞĞ,ŝŐŚ^ƚƌĞŶŐƚŚ^ƵƌĐŚĂƌŐĞ&ůŽǁ;ƉĞƌĐĐĨͿΨϭ͘ϵϳΨϭ͘ϵϲ tĂƐƚĞǁĂƚĞƌ&ĞĞ,ŝŐŚ^ƚƌĞŶŐƚŚ^ƵƌĐŚĂƌŐĞK;ƉĞƌůďͿΨϬ͘ϱϲΨϬ͘ϱϲ tĂƐƚĞǁĂƚĞƌ&ĞĞ,ŝŐŚ^ƚƌĞŶŐƚŚ^ƵƌĐŚĂƌŐĞd^^;ƉĞƌůďͿΨϬ͘ϰϱΨϬ͘ϰϰ tĂƐƚĞǁĂƚĞƌ&ĞĞ,ŝŐŚ^ƚƌĞŶŐƚŚ^ƵƌĐŚĂƌŐĞdW;ƉĞƌůďͿΨϲ͘ϭϵΨϲ͘ϭϰ tĂƐƚĞǁĂƚĞƌ&ĞĞ,ŝŐŚ^ƚƌĞŶŐƚŚ^ƵƌĐŚĂƌŐĞE,ϯͲE;ƉĞƌůďͿΨϮ͘ϯϬΨϮ͘Ϯϴ tĂƐƚĞǁĂƚĞƌ&ĞĞDŽŶŝƚŽƌŝŶŐŚĂƌŐĞ;ƉĞƌŵŽŶƚŚͿΨϭ͕ϭϬϬ͘ϬϬΨϭ͕ϬϳϬ͘ϬϬ tĂƐƚĞǁĂƚĞƌ^ĂŵƉůŝŶŐŚĂƌŐĞ;ƉĞƌƐĂŵƉůĞͿΨϮϬϬ͘ϬϬΨϭϵϬ͘ϬϬ tĂƐƚĞǁĂƚĞƌDĞƚĂůƐŶĂůLJƐŝƐŚĂƌŐĞ;ƉĞƌƐĂŵƉůĞͿΨϯϭϬ͘ϬϬΨϯϬϬ͘ϬϬ tĂƐƚĞǁĂƚĞƌŽŶǀĞŶƚŝŽŶĂůWŽůůƵƚĂŶƚƐŶĂůLJƐŝƐŚĂƌŐĞ;ƉĞƌƐĂŵƉůĞͿΨϭϲϬ͘ϬϬΨϭϱϬ͘ϬϬ tĂƐƚĞǁĂƚĞƌ&ĞĞ^ĞƉƚĂŐĞ;ƉĞƌϭ͕ϬϬϬŐĂůͿΨϭϮϳ͘ϬϬΨϭϮϲ͘ϬϬ tĂƐƚĞǁĂƚĞƌ&ĞĞWŽƌƚĂďůĞdŽŝůĞĚtĂƐƚĞ;ƉĞƌϭ͕ϬϬϬŐĂůͿΨϭϮϳ͘ϬϬΨϭϮϲ͘ϬϬ tĂƐƚĞǁĂƚĞƌ&ĞĞ&ĂƚƐ͕KŝůƐĂŶĚ'ƌĞĂƐĞ;ƉĞƌϭ͕ϬϬϬŐĂůͿΨϰϬ͘ϬϬΨϯϵ͘ϬϬ tĂƐƚĞǁĂƚĞƌ&ĞĞZĞƐŝĚĞŶƚŝĂůW/&Ψϰ͕ϯϱϬ͘ϬϬΨϰ͕ϮϬϬ͘ϬϬ tĂƐƚĞǁĂƚĞƌ&ĞĞDƵůƚŝƉůĞǁĞůůŝŶŐhŶŝƚW/&Ψϯ͕ϬϱϬ͘ϬϬΨϮ͕ϵϱϬ͘ϬϬ tĂƐƚĞǁĂƚĞƌ&ĞĞDĞƚĞƌ^ŝnjĞW/&ϱͬϴΗyϯͬϰΗ;ƉĞƌĨŝdžƚƵƌĞƵŶŝƚͿΨϮϬϲ͘ϬϬΨϭϵϴ͘ϬϬ tĂƐƚĞǁĂƚĞƌ&ĞĞDĞƚĞƌ^ŝnjĞW/&ϱͬϴΗyϯͬϰΗ;ďĂƐĞĚŽŶϮϱĨŝdžƚƵƌĞƵŶŝƚƐͿΨϲ͕ϲϬϬ͘ϬϬΨϲ͕ϯϱϬ͘ϬϬ tĂƐƚĞǁĂƚĞƌ&ĞĞDĞƚĞƌ^ŝnjĞW/&ϯͬϰΗΨϴ͕ϱϱϬ͘ϬϬΨϴ͕ϮϱϬ͘ϬϬ tĂƐƚĞǁĂƚĞƌ&ĞĞDĞƚĞƌ^ŝnjĞW/&ϭΗΨϭϱ͕ϭϬϬ͘ϬϬΨϭϰ͕ϲϬϬ͘ϬϬ tĂƐƚĞǁĂƚĞƌ&ĞĞDĞƚĞƌ^ŝnjĞW/&ϭͲϭͬϮΗΨϮϲ͕ϯϬϬ͘ϬϬΨϮϱ͕ϰϬϬ͘ϬϬ tĂƐƚĞǁĂƚĞƌ&ĞĞDĞƚĞƌ^ŝnjĞW/&ϮΗΨϰϮ͕ϴϬϬ͘ϬϬΨϰϭ͕ϯϬϬ͘ϬϬ tĂƐƚĞǁĂƚĞƌ&ĞĞDĞƚĞƌ^ŝnjĞW/&ϯΗΨϭϰϵ͕ϰϬϬ͘ϬϬΨϭϰϰ͕ϮϬϬ͘ϬϬ tĂƐƚĞǁĂƚĞƌ&ĞĞ/ŶĚƵƐƚƌŝĂůŝƐĐŚĂƌŐĞWĞƌŵŝƚW/&&ůŽǁ;ƉĞƌĐĐĨƉĞƌĚĂLJͿΨϳ͕ϮϯϬ͘ϬϬΨϲ͕ϵϴϬ͘ϬϬ tĂƐƚĞǁĂƚĞƌ&ĞĞ/ŶĚƵƐƚƌŝĂůŝƐĐŚĂƌŐĞWĞƌŵŝƚW/&K;ƉĞƌůďƉĞƌĚĂLJͿΨϮ͕ϯϯϬ͘ϬϬΨϮ͕ϮϱϬ͘ϬϬ tĂƐƚĞǁĂƚĞƌ&ĞĞ/ŶĚƵƐƚƌŝĂůŝƐĐŚĂƌŐĞWĞƌŵŝƚW/&d^^;ƉĞƌůďƉĞƌĚĂLJͿΨϭ͕ϭϬϬ͘ϬϬΨϭ͕ϬϲϬ͘ϬϬ tĂƐƚĞǁĂƚĞƌ&ĞĞ/ŶĚƵƐƚƌŝĂůŝƐĐŚĂƌŐĞWĞƌŵŝƚW/&dW;ƉĞƌůďƉĞƌĚĂLJͿΨϯϬ͕ϳϭϬ͘ϬϬΨϮϵ͕ϲϲϬ͘ϬϬ tĂƐƚĞǁĂƚĞƌ&ĞĞ/ŶĚƵƐƚƌŝĂůŝƐĐŚĂƌŐĞWĞƌŵŝƚW/&E,ϯͲE;ƉĞƌůďƉĞƌĚĂLJͿΨϭϮ͕ϭϳϬ͘ϬϬΨϭϭ͕ϳϱϬ͘ϬϬ tĂƐƚĞǁĂƚĞƌ/ŶĚƵƐƚƌŝĂůŝƐĐŚĂƌŐĞWĞƌŵŝƚƉƉůŝĐĂƚŝŽŶΨϭϬϬ͘ϬϬΨϭϬϬ͘ϬϬ DŝƐĐĞůůĂŶĞŽƵƐ Ψ͘ϭϳͬŬtŚнΨϱ͘ϬϬŚŽƵƌůLJŝĚůĞĨĞĞEͬ WƵďůŝĐsŚĂƌŐŝŶŐ&ĞĞ dƌĂŶƐŝƚĂŶĚWĂƌŬŝŶŐ ^ĞƌǀŝĐĞϮϬϮϲ&ĞĞϮϬϮϱ&ĞĞ ŝƉƐdŝĐŬĞƚƐ͗ ^ŝŶŐĞZŝĚĞ&ĂƌĞΨϯ͘ϬϬΨϯ͘ϬϬ ϱZŝĚĞdŝĐŬĞƚΨϭϱ͘ϬϬΨϭϱ͘ϬϬ ϭϬZŝĚĞdŝĐŬĞƚΨϯϬ͘ϬϬΨϯϬ͘ϬϬ ƵƐWĂƐƐĞƐ͗ ^ŝŶŐůĞZŝĚĞ͗ ĚƵůƚΨϮ͘ϬϬΨϮ͘ϬϬ zŽƵƚŚΨϭ͘ϬϬΨϭ͘ϬϬ ZĞĚƵĐĞĚ&ĂƌĞƐΨϭ͘ϬϬΨϭ͘ϬϬ ϱĂŶĚhŶĚĞƌ&ƌĞĞ&ƌĞĞ ϭϬZŝĚĞdŝĐŬĞƚ͗ ĚƵůƚΨϭϲ͘ϬϬΨϭϲ͘ϬϬ zŽƵƚŚΨϴ͘ϬϬΨϴ͘ϬϬ ZĞĚƵĐĞĚ&ĂƌĞƐΨϴ͘ϬϬΨϴ͘ϬϬ ϮϬZŝĚĞdŝĐŬĞƚ;ĚƵůƚͿΨϮϲ͘ϬϬΨϮϲ͘ϬϬ ^ƚƵĚĞŶƚƐ͗ ϵϬĂLJΨϲϬ͘ϬϬΨϲϬ͘ϬϬ ϭϮϬĂLJΨϴϬ͘ϬϬΨϴϬ͘ϬϬ ϭϱϬĂLJΨϭϬϬ͘ϬϬΨϭϬϬ͘ϬϬ KƚŚĞƌ&ĂƌĞƐ͗ ϯϭĂLJhŶůŝŵŝƚĞĚΨϰϮ͘ϬϬΨϰϮ͘ϬϬ ŶŶƵĂůhŶůŝŵŝƚĞĚΨϰϴϬ͘ϬϬΨϰϴϬ͘ϬϬ ŶŶƵĂůͬϭϬйŵƉůŽLJĞĞWƌŽŐƌĂŵΨϰϯϮ͘ϬϬΨϰϯϮ͘ϬϬ dƌĂŶƐĨĞƌƐ&ƌĞĞͲKŶĞƉĞƌƚƌŝƉ&ƌĞĞͲKŶĞƉĞƌƚƌŝƉ sĞƚĞƌĂŶΖƐ&ĂƌĞƐ&ƌĞĞĨŽƌĚŝƐĂďůĞĚǀĞƚĞƌĂŶƐ&ƌĞĞĨŽƌĚŝƐĂďůĞĚǀĞƚĞƌĂŶƐ WĂƌŬŝŶŐ͗ ĞŶƚĞƌ^ƚƌĞĞƚZĂŵƉͲĂLJƚŝŵĞZĂŶĚŽŵ;ŵŽŶƚŚůLJͿΨϭϴϮ͘ϬϬΨϭϴϮ͘ϬϬ ĞŶƚĞƌ^ƚƌĞĞƚZĂŵƉͲϮϰͬϳZĂŶĚŽŵ;ŵŽŶƚŚůLJͿΨϭϵϮ͘ϬϬΨϭϵϮ͘ϬϬ ĞŶƚĞƌ^ƚƌĞĞƚZĂŵƉͲϮϰͬϳƐƐŝŐŶĞĚŽŵŵĞƌĐŝĂů;ŵŽŶƚŚůLJͿΨϮϮϰ͘ϬϬΨϮϮϰ͘ϬϬ Ψϭϱϰ͘ϬϬΨϭϱϰ͘ϬϬ &ŝƌƐƚ^ƚƌĞĞƚZĂŵƉͲĂLJƚŝŵĞZĂŶĚŽŵ;ŵŽŶƚŚůLJͿ Ψϭϲϴ͘ϬϬΨϭϲϴ͘ϬϬ &ŝƌƐƚ^ƚƌĞĞƚZĂŵƉͲϮϰͬϳZĂŶĚŽŵ;ŵŽŶƚŚůLJͿ ΨϮϮϰ͘ϬϬΨϮϮϰ͘ϬϬ &ŝƌƐƚ^ƚƌĞĞƚZĂŵƉͲϮϰͬϳƐƐŝŐŶĞĚŽŵŵĞƌĐŝĂů;ŵŽŶƚŚůLJͿ Ψϭϱϰ͘ϬϬΨϭϱϰ͘ϬϬ ^ĞĐŽŶĚ^ƚƌĞĞƚZĂŵƉͲĂLJƚŝŵĞZĂŶĚŽŵ;ŵŽŶƚŚůLJͿ Ψϭϲϴ͘ϬϬΨϭϲϴ͘ϬϬ ^ĞĐŽŶĚ^ƚƌĞĞƚZĂŵƉͲϮϰͬϳZĂŶĚŽŵ;ŵŽŶƚŚůLJͿ Ψϭϳϯ͘ϬϬΨϭϳϯ͘ϬϬ ^ĞĐŽŶĚ^ƚƌĞĞƚZĂŵƉͲϮϰͬϳƐƐŝŐŶĞĚ;ŵŽŶƚŚůLJͿ ΨϮϮϰ͘ϬϬΨϮϮϰ͘ϬϬ ^ĞĐŽŶĚ^ƚƌĞĞƚZĂŵƉͲϮϰͬϳƐƐŝŐŶĞĚŽŵŵĞƌĐŝĂů;ŵŽŶƚŚůLJͿ Ψϭϱϰ͘ϬϬΨϭϱϰ͘ϬϬ dŚŝƌĚ^ƚƌĞĞƚZĂŵƉͲĂLJƚŝŵĞZĂŶĚŽŵ;ŵŽŶƚŚůLJͿ Ψϭϲϴ͘ϬϬΨϭϲϴ͘ϬϬ dŚŝƌĚ^ƚƌĞĞƚZĂŵƉͲϮϰͬϳZĂŶĚŽŵ;ŵŽŶƚŚůLJͿ ΨϮϮϰ͘ϬϬΨϮϮϰ͘ϬϬ dŚŝƌĚ^ƚƌĞĞƚZĂŵƉͲϮϰͬϳƐƐŝŐŶĞĚŽŵŵĞƌĐŝĂů;ŵŽŶƚŚůLJͿ Ψϴϱ͘ϬϬΨϴϱ͘ϬϬ dŚŝƌĚ^ƚƌĞĞƚZĂŵƉͲŝĐLJĐůĞ>ŽĐŬĞƌ;ĂŶŶƵĂůͿ Ψϭϰϱ͘ϬϬΨϭϰϱ͘ϬϬ ŝǀŝĐĞŶƚĞƌZĂŵƉͲZŽŽĨƚŽƉ;ŵŽŶƚŚůLJͿ ΨϭϰϬ͘ϬϬΨϭϰϬ͘ϬϬ ŝǀŝĐĞŶƚĞƌZĂŵƉͲ&ůĞdž;ŵŽŶƚŚůLJͿ ΨϮϮϰ͘ϬϬΨϮϮϰ͘ϬϬ ŝǀŝĐĞŶƚĞƌZĂŵƉͲϮϰͬϳƐƐŝŐŶĞĚŽŵŵĞƌĐŝĂů;ŵŽŶƚŚůLJͿ Ψϭϱϰ͘ϬϬΨϭϱϰ͘ϬϬ ZĂŵƉϲͲĂLJƚŝŵĞZĂŶĚŽŵ;ŵŽŶƚŚůLJͿ Ψϭϲϴ͘ϬϬΨϭϲϴ͘ϬϬ ZĂŵƉϲͲϮϰͬϳZĂŶĚŽŵ;ŵŽŶƚŚůLJͿ Ψϴϱ͘ϬϬΨϴϱ͘ϬϬ ZĂŵƉϲͲŝĐLJĐůĞ>ŽĐŬĞƌ;ĂŶŶƵĂůͿ Ψϭ͘ϬϬΨϭ͘ϬϬ ƌŵŽƌLJ>Žƚ;ŚŽƵƌůLJͿ ΨϭϮ͘ϬϬΨϭϮ͘ϬϬ ŝǀŝĐĞŶƚĞƌEŽƌƚŚ>ŽƚͲKǀĞƌƐŝnjĞsĞŚŝĐůĞ;ĚĂŝůLJͿ ΨϬ͘ϱϬΨϬ͘ϱϬ ŝǀŝĐĞŶƚĞƌEŽƌƚŚ>Žƚ;ŚŽƵƌůLJͿ ΨϴϬ͘ϬϬΨϴϬ͘ϬϬ ŝǀŝĐĞŶƚĞƌ^ŽƵƚŚ>Žƚ;ŵŽŶƚŚůLJͿ ΨϬ͘ϱϬΨϬ͘ϱϬ ŝǀŝĐĞŶƚĞƌ^ŽƵƚŚ>Žƚ;ŚŽƵƌůLJͿ Ψϭ͘ϬϬΨϭ͘ϬϬ 'ŽǀĞƌŶŵĞŶƚĞŶƚĞƌDĂŝŶ>Žƚ;ŚŽƵƌůLJͿ ΨϬ͘ϱϬΨϬ͘ϱϬ 'ŽǀĞƌŶŵĞŶƚĞŶƚĞƌ^ŽƵƚŚ>Žƚ;ŚŽƵƌůLJͿ ΨϳϮ͘ϬϬΨϳϮ͘ϬϬ WŽǁĞƌWůĂŶƚ>Žƚ;ŵŽŶƚŚůLJͿ ΨϭϮ͘ϬϬΨϭϮ͘ϬϬ WŽǁĞƌWůĂŶƚ>ŽƚͲKǀĞƌƐŝnjĞsĞŚŝĐůĞ;ĚĂŝůLJͿ ΨϭϱϮ͘ϬϬΨϭϱϮ͘ϬϬ ƵŵďƌŽDĂƌŬĞƚ>Žƚ;ŵŽŶƚŚůLJͿ ΨϮ͘ϱϬΨϮ͘ϱϬ ƵŵďƌŽDĂƌŬĞƚ>Žƚ;ŚŽƵƌůLJ͕ϮͲŚŽƵƌŵĂdžͿ ΨϮϬ͘ϬϬΨϮϬ͘ϬϬ WĂƌŬŝŶŐĐĐĞƐƐĂƌĚ&ĞĞ ΨϭϮϱ͘ϬϬΨϭϮϱ͘ϬϬ WĂƌŬŝŶŐZĂŵƉƌŽŬĞŶ'ĂƚĞ&ĞĞ tĞĞŬĞŶĚDĞƚĞƌĂŐĚŵŝŶŝƐƚƌĂƚŝǀĞ&ĞĞͲƉĞƌŵĞƚĞƌΨϯ͘ϬϬΨϯ͘ϬϬ dŝŵĞ>ŝŵŝƚĞĚDĞƚĞƌĂŐ&ĞĞͲƉĞƌƐƉĂĐĞƉĞƌĚĂLJΨϭϯ͘ϬϬΨϭϯ͘ϬϬ EŽdŝŵĞ>ŝŵŝƚDĞƚĞƌĂŐ&ĞĞͲƉĞƌƐƉĂĐĞƉĞƌĚĂLJΨϯ͘ϬϬΨϯ͘ϬϬ ϯ,ŽƵƌWĂƌŬŝŶŐDĞƚĞƌͲƉĞƌŚŽƵƌΨϮ͘ϬϬΨϮ͘ϬϬ EŽdŝŵĞ>ŝŵŝƚWĂƌŬŝŶŐDĞƚĞƌͲƉĞƌŚŽƵƌΨϬ͘ϱϬΨϬ͘ϱϬ Ψϯϯ͘ϬϬΨϯϯ͘ϬϬ ZĞƐŝĚĞŶƚŝĂůŽƌƵƐŝŶĞƐƐWĂƌŬŝŶŐWĞƌŵŝƚ;ĂŶŶƵĂůͿ ΨϭϬ͘ϬϬΨϭϬ͘ϬϬ dĞŵƉŽƌĂƌLJWĞƌŵŝƚ ΨϮϲϲ͘ϬϬEͬ ĞǀĞůŽƉĞƌWĂƌŬŝŶŐŐƌĞĞŵĞŶƚ&ĞĞ;ŵŽŶƚŚůLJͿ WĂƌŬŝŶŐZĂŵƉƐͲdƌĂŶƐŝĞŶƚ͗ ΨϬ͘ϬϬΨϬ͘ϬϬ ϭŚŽƵƌŽƌůĞƐƐ ΨϮ͘ϬϬΨϮ͘ϬϬ ϭͲϭ͘ϱŚŽƵƌƐ Ψϯ͘ϬϬΨϯ͘ϬϬ ϭ͘ϱͲϮŚŽƵƌƐ Ψϰ͘ϬϬΨϰ͘ϬϬ ϮͲϮ͘ϱŚŽƵƌƐ Ψϱ͘ϬϬΨϱ͘ϬϬ Ϯ͘ϱͲϯŚŽƵƌƐ Ψϲ͘ϬϬΨϲ͘ϬϬ ϯͲϯ͘ϱŚŽƵƌƐ Ψϳ͘ϬϬΨϳ͘ϬϬ ϯ͘ϱͲϰŚŽƵƌƐ Ψϴ͘ϬϬΨϴ͘ϬϬ ϰͲϰ͘ϱŚŽƵƌƐ ΨϭϬ͘ϬϬΨϭϬ͘ϬϬ ϰ͘ϱͲϱŚŽƵƌƐ ΨϭϮ͘ϬϬΨϭϮ͘ϬϬ ϱͲϱ͘ϱŚŽƵƌƐ Ψϭϰ͘ϬϬΨϭϰ͘ϬϬ ϱ͘ϱͲϲŚŽƵƌƐ Ψϭϲ͘ϬϬΨϭϲ͘ϬϬ ϲͲϭϮŚŽƵƌƐ Ψϭϴ͘ϬϬΨϭϴ͘ϬϬ ϭϮнŚŽƵƌƐ ΨϭϬ͘ϬϬΨϭϬ͘ϬϬ ,ŽƚĞůKǀĞƌŶŝŐŚƚ Ψϴ͘ϬϬΨϴ͘ϬϬ ŽŶǀĞŶƚŝŽŶKǀĞƌŶŝŐŚƚ Ψϰ͘ϬϬΨϰ͘ϬϬ ^ƵƉĞƌĐŽŶǀĞŶƚŝŽŶKǀĞƌŶŝŐŚƚ ΨϮ͘ϲϲΨϮ͘ϱϰ :ĞŚŽǀĂŚΖƐtŝƚŶĞƐƐŽŶǀĞŶƚŝŽŶƐ;ĚĂŝůLJͿ WĂƌŬŝŶŐdŝĐŬĞƚƐ͗ ϭƐƚ>ĂƚĞ&ĞĞΨϱ͘ϬϬΨϱ͘ϬϬ ϮŶĚ>ĂƚĞ&ĞĞΨϱ͘ϬϬΨϱ͘ϬϬ &ŝŶĂů>ĂƚĞ&ĞĞΨϭϱ͘ϬϬΨϭϱ͘ϬϬ WĂƌŬŝŶŐdŝĐŬĞƚͲdžƉŝƌĞĚDĞƚĞƌΨϮϴ͘ϬϬΨϮϴ͘ϬϬ WĂƌŬŝŶŐdŝĐŬĞƚͲKŶͲ^ƚƌĞĞƚsŝŽůĂƚŝŽŶΨϯϱ͘ϬϬΨϯϱ͘ϬϬ WĂƌŬŝŶŐdŝĐŬĞƚͲ&ŝƌĞ,LJĚƌĂŶƚƐΨϰϭ͘ϬϬΨϰϭ͘ϬϬ WĂƌŬŝŶŐdŝĐŬĞƚͲdžƉŝƌĞĚZĞŐŝƐƚƌĂƚŝŽŶΨϱϯ͘ϬϬΨϱϯ͘ϬϬ WĂƌŬŝŶŐdŝĐŬĞƚͲ^ŶŽǁŵĞƌŐĞŶĐLJΨϭϭϮ͘ϬϬΨϭϭϮ͘ϬϬ WĂƌŬŝŶŐdŝĐŬĞƚͲĐĐĞƐƐŝďůĞWĂƌŬŝŶŐΨϭϵϳ͘ϬϬΨϭϵϳ͘ϬϬ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚƵŝůĚŝŶŐŝǀŝƐŝŽŶ ^ĞƌǀŝĐĞϮϬϮϲ&ĞĞϮϬϮϱ&ĞĞ ŽŶƐƚƌƵĐƚŝŽŶZĞůĂƚĞĚ&ĞĞƐ ƵŝůĚŝŶŐWĞƌŵŝƚ&ĞĞƐ dŽƚĂůsĂůƵĂƚŝŽŶ͗Ψϭ͘ϬϬƚŽΨϱϬϬ͘ϬϬΨϮϱ͘ϬϬΨϮϱ͘ϬϬ dŽƚĂůsĂůƵĂƚŝŽŶ͗ΨϱϬϭ͘ϬϬƚŽΨϮ͕ϬϬϬ͘ϬϬ &ŝƌƐƚΨϱϬϬΨϮϱ͘ϬϬΨϮϱ͘ϬϬ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůΨϭϬϬΨϮ͘ϬϬΨϮ͘ϬϬ dŽƚĂůsĂůƵĂƚŝŽŶ͗ΨϮ͕ϬϬϭ͘ϬϬƚŽΨϮϱ͕ϬϬϬ͘ϬϬ &ŝƌƐƚΨϮ͕ϬϬϬΨϱϱ͘ϬϬΨϱϱ͘ϬϬ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůΨϭ͕ϬϬϬΨϵ͘ϬϬΨϵ͘ϬϬ dŽƚĂůsĂůƵĂƚŝŽŶ͗ΨϮϱ͕ϬϬϭ͘ϬϬƚŽΨϱϬ͕ϬϬϬ͘ϬϬ &ŝƌƐƚΨϮϱ͕ϬϬϬΨϮϲϮ͘ϬϬΨϮϲϮ͘ϬϬ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůΨϭ͕ϬϬϬΨϲ͘ϱϬΨϲ͘ϱϬ dŽƚĂůsĂůƵĂƚŝŽŶ͗ΨϱϬ͕ϬϬϭ͘ϬϬƚŽΨϭϬϬ͕ϬϬϬ͘ϬϬ &ŝƌƐƚΨϱϬ͕ϬϬϬΨϰϮϰ͘ϱϬΨϰϮϰ͘ϱϬ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůΨϭ͕ϬϬϬΨϰ͘ϱϬΨϰ͘ϱϬ dŽƚĂůsĂůƵĂƚŝŽŶ͗ΨϭϬϬ͕ϬϬϭ͘ϬϬƚŽΨϱϬϬ͕ϬϬϬ͘ϬϬ &ŝƌƐƚΨϭϬϬ͕ϬϬϬΨϲϰϵ͘ϱϬΨϲϰϵ͘ϱϬ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůΨϭ͕ϬϬϬΨϯ͘ϱϬΨϯ͘ϱϬ dŽƚĂůsĂůƵĂƚŝŽŶ͗ΨϱϬϬ͕ϬϬϭ͘ϬϬƚŽΨϭ͕ϬϬϬ͕ϬϬϬ͘ϬϬ &ŝƌƐƚΨϱϬϬ͕ϬϬϬΨϮ͕Ϭϰϵ͘ϱϬΨϮ͕Ϭϰϵ͘ϱϬ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůΨϭ͕ϬϬϬΨϯ͘ϬϬΨϯ͘ϬϬ dŽƚĂůsĂůƵĂƚŝŽŶ͗Ψϭ͕ϬϬϬ͕ϬϬϭ͘ϬϬĂŶĚƵƉ &ŝƌƐƚΨϭ͕ϬϬϬ͕ϬϬϬΨϯ͕ϱϰϵ͘ϱϬΨϯ͕ϱϰϵ͘ϱϬ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůΨϭ͕ϬϬϬΨϮ͘ϬϬΨϮ͘ϬϬ ƵŝůĚŝŶŐWůĂŶZĞǀŝĞǁ&ĞĞƐ;ƉĞƌĐĞŶƚŽĨďƵŝůĚŝŶŐƉĞƌŵŝƚĨĞĞͿ &ŽƌƐƚƌƵĐƚƵƌĞƐƉĞƌŵŝƚƚĞĚƵŶĚĞƌƚŚĞ/ŶƚĞƌŶĂƚŝŽŶĂůZĞƐŝĚĞŶƚŝĂůŽĚĞ;/ZͿϲϱйϲϱй &ŽƌĂůůŽƚŚĞƌƐƚƌƵĐƚƵƌĞƐϲϱйϲϱй ƵŝůĚŝŶŐWůĂŶZĞǀŝĞǁ&ĞĞƐͲDĂƐƚĞƌWůĂŶ;ƉĞƌĐĞŶƚŽĨďƵŝůĚŝŶŐƉĞƌŵŝƚĨĞĞͿ &ŽƌƐŝŵŝůĂƌƉůĂŶƐďĂƐĞĚŽŶĂŶĂƉƉƌŽǀĞĚŵĂƐƚĞƌƉůĂŶϮϱйϮϱй &ŽƌĂůůŽƚŚĞƌƐƚƌƵĐƚƵƌĞƐϮϱйϮϱй ZĞƐŝĚĞŶƚŝĂůƵŝůĚŝŶŐZĞͲZŽŽĨŝŶŐͲEŽWůĂŶZĞǀŝĞǁ&ĞĞΨϭϬϬ͘ϬϬEͬ ZĞƐŝĚĞŶƚŝĂůƵŝůĚŝŶŐZĞͲ^ŝĚŝŶŐΨϭϬϬ͘ϬϬEͬ ĚŵŝŶŝƐƚƌĂƚŝǀĞ&ĞĞΨϵϬ͘ϬϬEͬ tŝŶĚŽǁƐĂŶĚŽŽƌƐZĞƉůĂĐĞŵĞŶƚ ϭƚŽϯƵŶŝƚƐ;tŝŶĚŽǁƐͬŽŽƌƐͿΨϭϯϬ͘ϬϬEͬ ϰƚŽϭϬƵŶŝƚƐ;tŝŶĚŽǁƐͬŽŽƌƐͿΨϭϳϱ͘ϬϬEͬ ϭϭнƵŶŝƚƐ;tŝŶĚŽǁƐͬŽŽƌƐͿΨϮϮϬ͘ϬϬEͬ dƌĂĚĞWĞƌŵŝƚƐ ƉƉůŝĐĂƚŝŽŶ&ĞĞΨϮϱ͘ϬϬΨϮϱ͘ϬϬ ĚŵŝŶŝƐƚƌĂƚŝǀĞ&ĞĞΨϵϬ͘ϬϬEͬ WĞƌŵŝƚ&ĞĞ sĂůƵĂƚŝŽŶŽĨǁŽƌŬ͗Ψϭ͘ϬϬƚŽΨϱϬϬ͘ϬϬΨϬ͘ϬϬΨϬ͘ϬϬ sĂůƵĂƚŝŽŶŽĨǁŽƌŬ͗ΨϱϬϭ͘ϬϬƚŽΨϭ͕ϬϬϬΨϭϬ͘ϬϬΨϭϬ͘ϬϬ sĂůƵĂƚŝŽŶŽĨǁŽƌŬ͗Ψϭ͕ϬϬϭĂŶĚƵƉ;ƉĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůΨϭ͕ϬϬϬͿΨϭϬ͘ϬϬΨϭϬ͘ϬϬ ƉƉůŝĂŶĐĞWĞƌŵŝƚƐ tĂƚĞƌ,ĞĂƚĞƌ;ƚŵŽƐƉŚĞƌŝĐŵŝŶŝŵƵŵǀĂůƵĂƚŝŽŶΨϭϮϬϬͿΨϰϱ͘ϲϬΨϰϱ͘ϲϬ tĂƚĞƌ,ĞĂƚĞƌ;WŽǁĞƌsĞŶƚŵŝŶŝŵƵŵǀĂůƵĂƚŝŽŶΨϭϲϬϬͿΨϰϱ͘ϴϬΨϰϱ͘ϴϬ tĂƚĞƌ,ĞĂƚĞƌ;ůĞĐƚƌŝĐŵŝŶŝŵƵŵǀĂůƵĂƚŝŽŶΨϭϲϬϬͿΨϰϱ͘ϴϬΨϰϱ͘ϴϬ ŝƌŽŶĚŝƚŝŽŶĞƌKŶůLJ;ŵŝŶŝŵƵŵǀĂůƵĂƚŝŽŶΨϮϱϬϬͿΨϱϲ͘ϮϱΨϱϲ͘Ϯϱ &ƵƌŶĂĐĞKŶůLJ;ŵŝŶŝŵƵŵǀĂůƵĂƚŝŽŶΨϱϬϬϬͿΨϳϳ͘ϱϬΨϳϳ͘ϱϬ &ƵƌŶĂĐĞΘŝƌŽŶĚŝƚŝŽŶĞƌ;ŵŝŶŝŵƵŵǀĂůƵĂƚŝŽŶΨϳϬϬϬͿΨϵϴ͘ϱϬΨϵϴ͘ϱϬ 'ĞŶĞƌĂůWĞƌŵŝƚ&ĞĞ;dƌĂĚĞ͕ƵŝůĚŝŶŐ͕ΘƉƉůŝĂŶĐĞͿ /ŶƐƉĞĐƚŝŽŶƐŽƵƚƐŝĚĞŶŽƌŵĂůďƵƐŝŶĞƐƐŚŽƵƌƐ;ƉĞƌŚŽƵƌ͕ŵŝŶϮŚŽƵƌͿΨϳϱ͘ϬϬΨϳϱ͘ϬϬ ZĞͲ/ŶƐƉĞĐƚŝŽŶƐ;ƉĞƌŚŽƵƌ͕ŵŝŶϭŚŽƵƌͿΨϳϱ͘ϬϬΨϳϱ͘ϬϬ /ŶƐƉĞĐƚŝŽŶƐĨŽƌǁŚŝĐŚŶŽĨĞĞŝƐƐƉĞĐŝĨŝĐĂůůLJŝŶĚŝĐĂƚĞĚ;ƉĞƌŚŽƵƌ͕ŵŝŶϭŚŽƵƌͿΨϳϱ͘ϬϬΨϳϱ͘ϬϬ ĚĚŝƚŝŽŶĂůWůĂŶZĞǀŝĞǁ;ƉĞƌŚŽƵƌ͕ŵŝŶϭŚŽƵƌͿΨϳϱ͘ϬϬΨϳϱ͘ϬϬ tŽƌŬŝŶŐtŝƚŚŽƵƚĂWĞƌŵŝƚ&ĞĞͲϭƐƚΨϭϬϬ͘ϬϬΨϭϬϬ͘ϬϬ tŽƌŬŝŶŐtŝƚŚŽƵƚĂWĞƌŵŝƚ&ĞĞͲϮŶĚΨϭϱϬ͘ϬϬΨϭϱϬ͘ϬϬ tŽƌŬŝŶŐtŝƚŚŽƵƚĂWĞƌŵŝƚ&ĞĞͲϯƌĚΨϮϬϬ͘ϬϬΨϮϬϬ͘ϬϬ ZĞƐŝĚĞŶƚŝĂů&ŽŽƚŝŶŐͬ&ŽƵŶĚĂƚŝŽŶWĞƌŵŝƚΨϭϬϬ͘ϬϬΨϭϬϬ͘ϬϬ ZĞŶƚĂůWƌŽƉĞƌƚLJZĞůĂƚĞĚ&ĞĞƐ ZĞŶƚĂůWƌŽƉĞƌƚLJZĞŐŝƐƚƌĂƚŝŽŶĞƌƚŝĨŝĐĂƚĞ&ĞĞƐ;ĞĂĐŚďƵŝůĚŝŶŐͿΨϲϲ͘ϬϬΨϲϰ͘ϬϬ ZĞŶƚĂůWƌŽƉĞƌƚLJZĞŐŝƐƚƌĂƚŝŽŶĞƌƚŝĨŝĐĂƚĞ&ĞĞƐ;ƉĞƌƵŶŝƚͿΨϮϬ͘ϬϬΨϭϵ͘ϬϬ ZĞŶƚĂůĞƌƚŝĨŝĐĂƚĞdƌĂŶƐĨĞƌ&ĞĞΨϮϬ͘ϬϬΨϮϬ͘ϬϬ ŶĂĚĚŝƚŝŽŶĂůϭϬйŽĨƚŚĞƌĞŶĞǁĂůĨĞĞĚƵĞ͕ƵƉƚŽĂ ZĞŐŝƐƚƌĂƚŝŽŶĞƌƚŝĨŝĐĂƚĞ>ĂƚĞ&ĞĞƐ;ƵƉƚŽϯϬĚĂLJƐƉĂƐƚĚƵĞͿΨϯϬ͘ϬϬŵĂdžŝŵƵŵŽĨΨϯϬĨŽƌŽŶĞƚŽϯϬĚĂLJƐƉĂƐƚĚƵĞ͘ ŶĂĚĚŝƚŝŽŶĂůϮϱйŽĨƚŚĞƌĞŶĞǁĂůĨĞĞĚƵĞ͕ƵƉƚŽĂ ZĞŐŝƐƚƌĂƚŝŽŶĞƌƚŝĨŝĐĂƚĞ>ĂƚĞ&ĞĞƐ;ϯϭͲϲϬĚĂLJƐƉĂƐƚĚƵĞͿΨϱϬ͘ϬϬŵĂdžŝŵƵŵŽĨΨϱϬĂĨƚĞƌϯϬĚĂLJƐƉĂƐƚĚƵĞ͘ ŶĂĚĚŝƚŝŽŶĂůϮϱйŽĨƚŚĞƌĞŶĞǁĂůĨĞĞĚƵĞ͕ƵƉƚŽĂ ZĞŐŝƐƚƌĂƚŝŽŶĞƌƚŝĨŝĐĂƚĞ>ĂƚĞ&ĞĞƐ;ďĞLJŽŶĚϲϬĚĂLJƐƉĂƐƚĚƵĞͿΨϱϬ͘ϬϬŵĂdžŝŵƵŵŽĨΨϱϬĂĨƚĞƌϯϬĚĂLJƐƉĂƐƚĚƵĞ͘ DŝƐƐĞĚƉƉŽŝŶƚŵĞŶƚ&ĞĞΨϳϱ͘ϬϬΨϳϱ͘ϬϬ WƌŽƉĞƌƚŝĞƐǁŝƚŚϭͲϰƵŶŝƚƐƌĞͲŝŶƐƉĞĐƚĞĚʹΨϳϱWƌŽƉĞƌƚŝĞƐǁŝƚŚϭͲϰƵŶŝƚƐƌĞͲŝŶƐƉĞĐƚĞĚʹΨϳϱ WƌŽƉĞƌƚŝĞƐǁŝƚŚϱͲϭϮƵŶŝƚƐƌĞͲŝŶƐƉĞĐƚĞĚʹΨϭϬϬWƌŽƉĞƌƚŝĞƐǁŝƚŚϱͲϭϮƵŶŝƚƐƌĞͲŝŶƐƉĞĐƚĞĚʹΨϭϬϬ ZĞͲ/ŶƐƉĞĐƚŝŽŶ&ĞĞWƌŽƉĞƌƚŝĞƐǁŝƚŚϭϮнƵŶŝƚƐƌĞͲŝŶƐƉĞĐƚĞĚʹΨϭϮϱWƌŽƉĞƌƚŝĞƐǁŝƚŚϭϮнƵŶŝƚƐƌĞͲŝŶƐƉĞĐƚĞĚʹΨϭϮϱ ĚŵŝŶŝƐƚƌĂƚŝǀĞ&ŝŶĞ&ĞĞΨϵϬ͘ϬϬΨϵϬ͘ϬϬ ZĞͲŝŶƐƚĂƚĞŵĞŶƚ&ĞĞ;&ŝƌƐƚhŶŝƚͿΨϭϬϬ͘ϬϬΨϭϬϬ͘ϬϬ ZĞͲŝŶƐƚĂƚĞŵĞŶƚ&ĞĞ;ĂĐŚĚĚŝƚŝŽŶĂůhŶŝƚͿΨϮϬ͘ϬϬΨϮϬ͘ϬϬ &ŽƌŶĞǁƵƐĞĐƵƐƚŽŵĞƌƐƚŚĂƚŚĂǀĞŶŽŽƚŚĞƌƌĞŶƚĂůƵŶŝƚƐ&ŽƌŶĞǁƵƐĞĐƵƐƚŽŵĞƌƐƚŚĂƚŚĂǀĞŶŽŽƚŚĞƌƌĞŶƚĂůƵŶŝƚƐ ϭ͘&ŝƌƐƚŽĐĐƵƌƌĞŶĐĞǁƌŝƩĞŶǁĂƌŶŝŶŐϭ͘&ŝƌƐƚŽĐĐƵƌƌĞŶĐĞǁƌŝƩĞŶǁĂƌŶŝŶŐ Ϯ͘^ĞĐŽŶĚŽĐĐƵƌƌĞŶĐĞͲΨϮϱϬ͘ϬϬĨĞĞϮ͘^ĞĐŽŶĚŽĐĐƵƌƌĞŶĐĞͲΨϮϱϬ͘ϬϬĨĞĞ ϯ͘dŚŝƌĚŽĐĐƵƌƌĞŶĐĞͲΨϱϬϬ͘ϬϬĨĞĞϯ͘dŚŝƌĚŽĐĐƵƌƌĞŶĐĞͲΨϱϬϬ͘ϬϬĨĞĞ ϰ͘&ŽƵƌƚŚŽĐĐƵƌƌĞŶĐĞͲŝƚLJĂƩŽƌŶĞLJĂŶĚƵƉƚŽϭϬϬϬ͘ϬϬϰ͘&ŽƵƌƚŚŽĐĐƵƌƌĞŶĐĞͲŝƚLJĂƩŽƌŶĞLJĂŶĚƵƉƚŽϭϬϬϬ͘ϬϬ ĨŝŶĞĂƐZKƐƚĂƚĞƐĨŝŶĞĂƐZKƐƚĂƚĞƐ &ŽƌĞdžŝƐƟŶŐĐƵƐƚŽŵĞƌƐƚŚĂƚĚŽŚĂǀĞĞdžŝƐƟŶŐƌĞŶƚĂůƐ&ŽƌĞdžŝƐƟŶŐĐƵƐƚŽŵĞƌƐƚŚĂƚĚŽŚĂǀĞĞdžŝƐƟŶŐƌĞŶƚĂůƐ ϭ͘&ŝƌƐƚŽĐĐƵƌƌĞŶĐĞͲΨϮϱϬ͘ϬϬĨĞĞϭ͘&ŝƌƐƚŽĐĐƵƌƌĞŶĐĞͲΨϮϱϬ͘ϬϬĨĞĞ Ϯ͘^ĞĐŽŶĚŽĐĐƵƌƌĞŶĐĞͲΨϱϬϬ͘ϬϬĨĞĞϮ͘^ĞĐŽŶĚŽĐĐƵƌƌĞŶĐĞͲΨϱϬϬ͘ϬϬĨĞĞ ϯ͘dŚŝƌĚŽĐĐƵƌƌĞŶĐĞͲŝƚLJĂƩŽƌŶĞLJĂŶĚƵƉƚŽϭϬϬϬ͘ϬϬϯ͘dŚŝƌĚŽĐĐƵƌƌĞŶĐĞͲŝƚLJĂƩŽƌŶĞLJĂŶĚƵƉƚŽϭϬϬϬ͘ϬϬ ĨŝŶĞĂƐZKƐƚĂƚĞƐĨŝŶĞĂƐZKƐƚĂƚĞƐ ZĞŶƚŝŶŐǁŝƚŚŽƵƚĂĐĞƌƚŝĨŝĐĂƚĞ >ĂƚĞĐŽŵƉůŝĂŶĐĞĨĞĞΨϭϬϬͲΨϱϬϬΨϭϬϬͲΨϱϬϬ ĞƌƚŝĨŝĞĚDĂŝů&ĞĞΨϱϬ͘ϬϬΨϱϬ͘ϬϬ ,ŽƵƐŝŶŐŽĚĞsŝŽůĂƚŝŽŶ&ĞĞ sĂĐĂŶƚďƵŝůĚŝŶŐƌĞŐŝƐƚƌĂƚŝŽŶΨϭϬϬͲΨϱϬϬΨϭϬϬͲΨϱϬϬ 'ƌĂĚŝŶŐWůĂŶZĞǀŝĞǁ&ĞĞ ϰϵĐƵďŝĐLJĂƌĚƐŽƌůĞƐƐΨϬ͘ϬϬΨϬ͘ϬϬ ϱϬƚŽϭϬϬĐƵďŝĐLJĂƌĚƐΨϮϱ͘ϬϬΨϮϱ͘ϬϬ ϭϬϭƚŽϭ͕ϬϬϬĐƵďŝĐLJĂƌĚƐΨϰϬ͘ϬϬΨϰϬ͘ϬϬ ϭ͕ϬϬϭƚŽϭϬ͕ϬϬϬĐƵďŝĐLJĂƌĚƐΨϱϬ͘ϬϬΨϱϬ͘ϬϬ ϭϬ͕ϬϬϭƚŽϭϬϬ͕ϬϬϬĐƵďŝĐLJĂƌĚƐ &ŝƌƐƚϭϬ͕ϬϬϬĐƵďŝĐLJĂƌĚƐƉůƵƐΨϱϬ͘ϬϬΨϱϬ͘ϬϬ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůϭͲϭϬ͕ϬϬϬĐƵďŝĐLJĂƌĚƐΨϮϱ͘ϬϬΨϮϱ͘ϬϬ ϭϬϬ͕ϬϬϭƚŽϮϬϬ͕ϬϬϬĐƵďŝĐLJĂƌĚƐ &ŝƌƐƚϭϬϬ͕ϬϬϬĐƵďŝĐLJĂƌĚƐƉůƵƐΨϮϳϱ͘ϬϬΨϮϳϱ͘ϬϬ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůϭͲϭϬ͕ϬϬϬĐƵďŝĐLJĂƌĚƐΨϭϱ͘ϬϬΨϭϱ͘ϬϬ ϮϬϬ͕ϬϬϭĐƵďŝĐLJĂƌĚƐŽƌŵŽƌĞ &ŝƌƐƚϮϬϬ͕ϬϬϬĐƵďŝĐLJĂƌĚƐƉůƵƐΨϰϭϬ͘ϬϬΨϰϭϬ͘ϬϬ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůϭͲϭϬ͕ϬϬϬĐƵďŝĐLJĂƌĚƐΨϭϬ͘ϬϬΨϭϬ͘ϬϬ 'ƌĂĚŝŶŐWĞƌŵŝƚ&ĞĞ ϰϵĐƵďŝĐLJĂƌĚƐŽƌůĞƐƐΨϬ͘ϬϬΨϬ͘ϬϬ ϱϬƚŽϭϬϬĐƵďŝĐLJĂƌĚƐΨϰϬ͘ϬϬΨϰϬ͘ϬϬ ϭϬϭƚŽϭ͕ϬϬϬĐƵďŝĐLJĂƌĚƐ &ŝƌƐƚϭϬϬĐƵďŝĐLJĂƌĚƐƉůƵƐΨϰϬ͘ϬϬΨϰϬ͘ϬϬ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůϭͲϭϬϬĐƵďŝĐLJĂƌĚƐΨϭϴ͘ϬϬΨϭϴ͘ϬϬ ϭ͕ϬϬϭƚŽϭϬ͕ϬϬϬĐƵďŝĐLJĂƌĚƐ &ŝƌƐƚϭ͕ϬϬϬĐƵďŝĐLJĂƌĚƐƉůƵƐΨϮϬϮ͘ϬϬΨϮϬϮ͘ϬϬ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůϭͲϭ͕ϬϬϬĐƵďŝĐLJĂƌĚƐΨϭϱ͘ϬϬΨϭϱ͘ϬϬ ϭϬ͕ϬϬϭƚŽϭϬϬ͕ϬϬϬĐƵďŝĐLJĂƌĚƐ &ŝƌƐƚϭϬ͕ϬϬϬĐƵďŝĐLJĂƌĚƐƉůƵƐΨϯϯϳ͘ϬϬΨϯϯϳ͘ϬϬ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůϭͲϭϬ͕ϬϬϬĐƵďŝĐLJĂƌĚƐΨϳϬ͘ϬϬΨϳϬ͘ϬϬ ϭϬϬ͕ϬϬϭĐƵďŝĐLJĂƌĚƐŽƌŵŽƌĞ &ŝƌƐƚϭϬϬ͕ϬϬϬĐƵďŝĐLJĂƌĚƐƉůƵƐΨϵϲϳ͘ϬϬΨϵϲϳ͘ϬϬ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůϭͲϭϬ͕ϬϬϬĐƵďŝĐLJĂƌĚƐΨϰϬ͘ϬϬΨϰϬ͘ϬϬ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚWůĂŶŶŝŶŐĂŶĚŽŶŝŶŐŝǀŝƐŝŽŶ ^ĞƌǀŝĐĞϮϬϮϲ&ĞĞϮϬϮϱ&ĞĞ ŽŶŝŶŐĞƌƚŝĨŝĐĂƚĞ&ĞĞƐ ͘ZĞƐŝĚĞŶƚŝĂůhƐĞƐ;sĂůƵĞƐŽĨŝŵƉƌŽǀĞŵĞŶƚďƵŝůĚŝŶŐ͕ŐƌĂĚŝŶŐ͕ĞƚĐ͕͘ĂĐĐŽƌĚŝŶŐƚŽ ƚŚĞĨŽůůŽǁŝŶŐƐĐŚĞĚƵůĞͿ ΨϭƚŽΨϱϬϬ;ƉĞƌƉĞƌŵŝƚͿΨϯϭ͘ϱϬΨϯϭ͘ϱϬ ΨϱϬϭƚŽΨϮ͕ϬϬϬ &ŝƌƐƚΨϱϬϬΨϯϭ͘ϱϬΨϯϭ͘ϱϬ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůΨϭϬϬΨϭ͘ϴϵΨϭ͘ϴϵ ΨϮϬϬϭƚŽΨϮϱ͕ϬϬϬ Ψϱϵ͘ϴϱΨϱϵ͘ϴϱ &ŝƌƐƚΨϮϬϬϬ Ψϯ͘ϱϳΨϯ͘ϱϳ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůΨϭ͕ϬϬϬ ΨϮϱ͕ϬϬϭƚŽΨϱϬ͕ϬϬϬ Ψϭϰϭ͘ϵϲΨϭϰϭ͘ϵϲ &ŝƌƐƚΨϮϱ͕ϬϬϬ ΨϮ͘ϱϮΨϮ͘ϱϮ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůΨϭ͕ϬϬϬ ΨϱϬ͕ϬϬϭƚŽΨϭϬϬ͕ϬϬϬ ΨϮϬϰ͘ϵϲΨϮϬϰ͘ϵϲ &ŝƌƐƚΨϮϬϬϬ ΨϬ͘ϴϰΨϬ͘ϴϰ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůΨϭ͕ϬϬϬ ΨϭϬϬ͕ϬϬϭĂŶĚƵƉ ΨϮϰϲ͘ϵϲΨϮϰϲ͘ϵϲ &ŝƌƐƚΨϭϬϬ͕ϬϬϬ ΨϬ͘ϮϱΨϬ͘Ϯϱ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůΨϭ͕ϬϬϬ ͘DƵůƚŝƉůĞ&ĂŵŝůLJĂŶĚEŽŶͲZĞƐŝĚĞŶƚŝĂůhƐĞƐ͗;sĂůƵĞƐŽĨŝŵƉƌŽǀĞŵĞŶƚďƵŝůĚŝŶŐ͕ ŐƌĂĚŝŶŐ͕ĞƚĐ͕͘ĂĐĐŽƌĚŝŶŐƚŽƚŚĞĨŽůůŽǁŝŶŐƐĐŚĞĚƵůĞͿ ΨϭƚŽΨϱϬϬ;ƉĞƌƉĞƌŵŝƚͿΨϯϭ͘ϱϬΨϯϭ͘ϱϬ ΨϱϬϭƚŽΨϮ͕ϬϬϬ &ŝƌƐƚΨϱϬϬΨϯϭ͘ϱϬΨϯϭ͘ϱϬ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůΨϭϬϬΨϮ͘ϰϮΨϮ͘ϰϮ ΨϮϬϬϭƚŽΨϮϱ͕ϬϬϬ Ψϲϳ͘ϳϯΨϲϳ͘ϳϯ &ŝƌƐƚΨϮϬϬϬ Ψϱ͘ϬϰΨϱ͘Ϭϰ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůΨϭ͕ϬϬϬ ΨϮϱ͕ϬϬϭƚŽΨϱϬ͕ϬϬϬ Ψϭϴϯ͘ϲϱΨϭϴϯ͘ϲϱ &ŝƌƐƚΨϮϱ͕ϬϬϬ ΨϮ͘ϮϭΨϮ͘Ϯϭ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůΨϭ͕ϬϬϬ ΨϱϬ͕ϬϬϭƚŽΨϭϬϬ͕ϬϬϬ ΨϮϯϴ͘ϳϳΨϮϯϴ͘ϳϳ &ŝƌƐƚΨϮϬϬϬ Ψϭ͘ϰϳΨϭ͘ϰϳ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůΨϭ͕ϬϬϬ ΨϭϬϬ͕ϬϬϭĂŶĚƵƉ ΨϯϭϮ͘ϮϳΨϯϭϮ͘Ϯϳ &ŝƌƐƚΨϭϬϬ͕ϬϬϬ ΨϬ͘ϮϱΨϬ͘Ϯϱ WĞƌĞĂĐŚĂĚĚŝƚŝŽŶĂůΨϭ͕ϬϬϬ tŚĞŶƚŚĞďƵŝůĚŝŶŐĐŽŶƐƚƌƵĐƚŝŽŶŽƌƌĞŵŽĚĞůŝŶŐŚĂƐtŚĞŶƚŚĞďƵŝůĚŝŶŐĐŽŶƐƚƌƵĐƚŝŽŶŽƌƌĞŵŽĚĞůŝŶŐŚĂƐ ŽĐĐƵƌƌĞĚƉƌŝŽƌƚŽŝƐƐƵŝŶŐŽĨƚŚĞnjŽŶŝŶŐĐĞƌƚŝĨŝĐĂƚĞ͕ĂŽĐĐƵƌƌĞĚƉƌŝŽƌƚŽŝƐƐƵŝŶŐŽĨƚŚĞnjŽŶŝŶŐĐĞƌƚŝĨŝĐĂƚĞ͕Ă ͘ŽƵďůĞ&ĞĞ͗ĚŽƵďůĞĨĞĞŵĂLJďĞŝŵƉŽƐĞĚ͘ĚŽƵďůĞĨĞĞŵĂLJďĞŝŵƉŽƐĞĚ͘ tĞƚůĂŶĚ&ĞĞƐ ΨϯϬϬ͘ϬϬΨϯϬϬ͘ϬϬ džĞŵƉƚŝŽŶĞƚĞƌŵŝŶĂƚŝŽŶ ΨϮϲϬ͘ϬϬΨϮϲϬ͘ϬϬ EŽͲ>ŽƐƐĞƚĞƌŵŝŶĂƚŝŽŶ ĞůŝŶĞĂƚŝŽŶZĞǀŝĞǁ ΨϰϭϬ͘ϬϬΨϰϭϬ͘ϬϬ ϭĂĐƌĞŽƌůĞƐƐ ΨϵϬϬ͘ϬϬΨϵϬϬ͘ϬϬ ϭͲϭϬĂĐƌĞƐ Ψϭ͕ϮϵϬ͘ϬϬΨϭ͕ϮϵϬ͘ϬϬ ϭϭнĂĐƌĞƐ ZĞƉůĂĐĞŵĞŶƚWůĂŶ ΨϳϴϬ͘ϬϬΨϳϴϬ͘ϬϬ ϭĂĐƌĞŽƌůĞƐƐ Ψϭ͕ϲϳϬ͘ϬϬΨϭ͕ϲϳϬ͘ϬϬ ϭͲϭϬĂĐƌĞƐ ΨϮ͕ϰϳϬ͘ϬϬΨϮ͕ϰϳϬ͘ϬϬ ϭϭнĂĐƌĞƐ ΨϳϲϬ͘ϬϬΨϳϲϬ͘ϬϬ ^ĞƋƵĞŶĐŝŶŐWůĂŶ ΨϰϲϬ͘ϬϬΨϰϲϬ͘ϬϬ ƉƉĞĂů ĂŶŬŝŶŐWůĂŶ ΨϳϴϬ͘ϬϬΨϳϴϬ͘ϬϬ ϭĂĐƌĞŽƌůĞƐƐ Ψϭ͕ϲϳϬ͘ϬϬΨϭ͕ϲϳϬ͘ϬϬ ϭͲϭϬĂĐƌĞƐ ΨϮ͕ϰϳϬ͘ϬϬΨϮ͕ϰϳϬ͘ϬϬ ϭϭнĂĐƌĞƐ ΨϭϯϮ͘ϬϬΨϭϯϮ͘ϬϬ ŶŶƵĂůDŽŶŝƚŽƌŝŶŐZĞƉŽƌƚ KƚŚĞƌWĞƌŵŝƚƐ;ĨĞĞďĂƐĞĚŽŶƉĞƌĂƉƉůŝĐĂƚŝŽŶǁŚĞƌĞĂƉƉůŝĐĂďůĞͿ Ψϯϱ͘ϬϬΨϯϱ͘ϬϬ ^ƚĂĨĨĂƵƚŚŽƌŝnjĞĚŽŶŝŶŐĞƌƚŝĨŝĐĂƚĞ hƐĞŶŽŶͲƌĞƐĞƌƚhƐĞŶŽŶͲƌĞƐĞƌƚ ^ŝŐŶWĞƌŵŝƚ ΨϮϱϱ͘ϬϬΨϮϱϱ͘ϬϬ ŝůůďŽĂƌĚ;ŶĞǁΘƐŝŐŶĐƌĞĚŝƚͿ 'ƌĂĚŝŶŐWĞƌŵŝƚ;ŽŶŝŶŐĞƌƚŝĨŝĐĂƚĞͿΨϮϱϱ͘ϬϬΨϮϱϱ͘ϬϬ Ψϰϱ͘ϬϬΨϰϱ͘ϬϬ ZĞŶƚĂů,ŽƵƐŝŶŐĞƌƚŝĨŝĐĂƚĞ ΨϭϰϬ^ŝŶŐůĞ&ĂŵŝůLJ͕ΨϮϭϬKƚŚĞƌΨϭϰϬ^ŝŶŐůĞ&ĂŵŝůLJ͕ΨϮϭϬKƚŚĞƌ ŽŶŝŶŐŽŵƉůŝĂŶĐĞ>ĞƚƚĞƌ ΨϮ͕Ϯϯϱ͘ϬϬΨϮ͕Ϯϯϱ͘ϬϬ ŶǀŝƌŽŶŵĞŶƚĂůtŽƌŬƐŚĞĞƚ dŽďĞĚĞƚĞƌŵŝŶĞĚŽŶĐŽŶƚƌĂĐƚďĂƐŝƐdŽďĞĚĞƚĞƌŵŝŶĞĚŽŶĐŽŶƚƌĂĐƚďĂƐŝƐ ŶǀŝƌŽŶŵĞŶƚĂů/ŵƉĂĐƚ^ƚĂƚĞŵĞŶƚ hƐĞŶŽŶͲƌĞƐĞƌƚhƐĞŶŽŶͲƌĞƐĞƌƚ ĞŵŽůŝƚŝŽŶWĞƌŵŝƚ ΨϭϮϬ͘ϬϬΨϭϮϬ͘ϬϬ dĞŵƉŽƌĂƌLJWĞƌŵŝƚ EŽ&ĞĞEŽ&ĞĞ ĞƌƚŝĨŝĐĂƚĞŽĨƉƉƌŽƉƌŝĂƚĞŶĞƐƐͲDŝŶŽƌůƚĞƌĂƚŝŽŶƐ EŽ&ĞĞEŽ&ĞĞ ĞƌƚŝĨŝĐĂƚĞŽĨƉƉƌŽƉƌŝĂƚĞŶĞƐƐͲDĂũŽƌůƚĞƌĂƚŝŽŶƐ EŽ&ĞĞEŽ&ĞĞ ĞƐŝŐŶĂƚŝŽŶŽƌZĞŵŽǀĂůŽĨ>ĂŶĚŵĂƌŬWƌŽƉĞƌƚLJŽƌ>ĂŶĚŵĂƌŬŝƐƚƌŝĐƚ ĞǀĞůŽƉŵĞŶƚƉƉůŝĐĂƚŝŽŶ&ĞĞƐ;ĨĞĞďĂƐĞĚŽŶƉĞƌĂƉƉůŝĐĂƚŝŽŶǁŚĞƌĞĂƉƉůŝĐĂďůĞͿ ΨϮ͕ϯϮϱ͘ϬϬΨϮ͕ϯϮϬ͘ϬϬ /ŶĐĞŶƚŝǀĞĞǀĞůŽƉŵĞŶƚ Ψϭ͕ϮϬϱ͘ϬϬΨϭ͕ϮϬϬ͘ϬϬ 'ĞŶĞƌĂůĞǀĞůŽƉŵĞŶƚWůĂŶ ^ŝƚĞĞǀĞůŽƉŵĞŶƚWůĂŶΨϲϱϱ͘ϬϬΨϲϱϬ͘ϬϬ ^ŝƚĞĞǀĞůŽƉŵĞŶƚWůĂŶŵĞŶĚŵĞŶƚΨϰϬϱ͘ϬϬΨϰϬϬ͘ϬϬ >Žƚ>ŝŶĞZĞĂĚũƵƐƚŵĞŶƚΨϳϰϬ͘ϬϬΨϳϯϱ͘ϬϬ DŝŶŽƌDŽĚŝĨŝĐĂƚŝŽŶΨϮϮϱ͘ϬϬΨϮϮϬ͘ϬϬ Ψϲϱϱ͘ϬϬΨϲϱϬ͘ϬϬ &ůŽŽĚƉůĂŝŶĞǀĞůŽƉŵĞŶƚWĞƌŵŝƚ Ψϭ͕ϱϭϱƉĞƌĂƉƉůŝĐĂƚŝŽŶ͕ΨϯϱƉĞƌůŽƚΨϭ͕ϱϭϬƉĞƌĂƉƉůŝĐĂƚŝŽŶ͕ΨϯϬƉĞƌůŽƚ DŝŶŽƌ>ĂŶĚ^ƵďĚŝǀŝƐŝŽŶWĞƌŵŝƚ Ψϭ͕ϰϵϱ͘ϬϬΨϭ͕ϰϵϬ͘ϬϬ ŽŶĚŝƚŝŽŶĂůhƐĞWĞƌŵŝƚƉƉƌŽǀĞĚďLJWůĂŶŶŝŶŐŽŵŵŝƐƐŝŽŶ Ψϭ͕ϰϵϱ͘ϬϬΨϭ͕ϰϵϬ͘ϬϬ ^ŚŽƌĞůĂŶĚWƌŽƚĞĐƚŝŽŶWĞƌŵŝƚ ZĞƐŝĚĞŶƚŝĂůhƐĞ͗ΨϳϲϬZĞƐŝĚĞŶƚŝĂůhƐĞ͗Ψϳϱϱ EŽŶZĞƐŝĚĞŶƚŝĂůͬDƵůƚŝ&ĂŵŝůLJhƐĞ͗Ψϭ͕ϱϭϱEŽŶZĞƐŝĚĞŶƚŝĂůͬDƵůƚŝ&ĂŵŝůLJhƐĞ͗Ψϭ͕ϱϭϬ sĂƌŝĂŶĐĞ ΨϮ͕ϭϭϱƉĞƌĂƉƉůŝĐĂƚŝŽŶ͕ΨϯϱƉĞƌůŽƚΨϮ͕ϭϭϬƉĞƌĂƉƉůŝĐĂƚŝŽŶ͕ΨϯϬƉĞƌůŽƚ DĂũŽƌ>ĂŶĚ^ƵďĚŝǀŝƐŝŽŶWĞƌŵŝƚ Ψϭ͕ϱϭϱƉĞƌĂƉƉůŝĐĂƚŝŽŶ͕ΨϯϱƉĞƌůŽƚΨϭ͕ϱϭϬƉĞƌĂƉƉůŝĐĂƚŝŽŶ͕ΨϯϬƉĞƌůŽƚ &ŝŶĂůWůĂƚ ΨϮ͕ϯϮϱ͘ϬϬΨϮ͕ϯϮϬ͘ϬϬ ZĞnjŽŶŝŶŐ;KĨĨŝĐŝĂůŽŶŝŶŐDĂƉŵĞŶĚĞŵĞŶƚͿ Ψϭ͕ϰϵϱ͘ϬϬΨϭ͕ϰϵϬ͘ϬϬ DĂũŽƌDŽĚŝĨŝĐĂƚŝŽŶ Ψϭ͕ϱϭϱ͘ϬϬΨϭ͕ϱϭϬ͘ϬϬ ŶŶĞdžĂƚŝŽŶŽĨ>ĂŶĚ hƚŝůŝƚLJΨϳϲϬƉĞƌĂƉƉůŝĐĂƚŝŽŶ͕ZKtΨϭ͕ϱϯϱƉĞƌĂƉƉůŝĐĂƚŝŽŶhƚŝůŝƚLJΨϳϱϱƉĞƌĂƉƉůŝĐĂƚŝŽŶ͕ZKtΨϭ͕ϱϯϬƉĞƌĂƉƉůŝĐĂƚŝŽŶ sĂĐĂƚŝŽŶ Ψϭ͕ϮϬϱ͘ϬϬΨϭ͕ϮϬϬ͘ϬϬ hdĞdžƚŵĞŶĚŵĞŶƚ ΨϮ͕ϯϮϱ͘ϬϬΨϮ͕ϯϮϬ͘ϬϬ /ŶƚĞƌŝŵhƐĞWĞƌŵŝƚ ,ŽŵĞKĐĐƵƉĂƚŝŽŶΨϮϴϬ͘ϬϬΨϮϳϱ͘ϬϬ Ψϴϰϱ͘ϬϬΨϴϰϬ͘ϬϬ hWΘ'WŵĞŶĚŵĞŶƚ;^ƚĂĨĨůĞǀĞůͿ Ψϯϴϱ͘ϬϬΨϯϴϬ͘ϬϬ ƉƉĞĂů ΨϮ͕ϯϯϱ͘ϬϬΨϮ͕ϯϯϬ͘ϬϬ ŽŵƉƌĞŚĞŶƐŝǀĞWůĂŶĚŽƉƚŝŽŶŽƌŵĞŶĚŵĞŶƚ;>hWͿ ΨϮ͕ϯϯϱ͘ϬϬΨϮ͕ϯϯϬ͘ϬϬ 'ƌŽǁƚŚDĂŶĂŐĞŵĞŶƚDĂƉŵĞŶĚŵĞŶƚ EŽ&ĞĞEŽ&ĞĞ KĨĨŝĐŝĂůDĂƉĚŽƉƚŝŽŶ ΨϮ͕ϯϮϱ͘ϬϬΨϮ͕ϯϮϬ͘ϬϬ ŝƐƚŝŶĐƚŝǀĞĞǀĞůŽƉŵĞŶƚ ŽŶĚŝƚŝŽŶĂůhƐĞWĞƌŵŝƚƉƉƌŽǀĞĚďLJŝƚLJŽƵŶĐŝůΨϮ͕ϯϮϱ͘ϬϬΨϮ͕ϯϮϬ͘ϬϬ WƵďůŝĐEŽƚŝĐĞ;ƉĞƌŶŽƚŝĨŝĐĂƚŝŽŶͿΨϭϮϱ͘ϬϬΨϭϮϬ͘ϬϬ dĂdž/ŶĐƌĞŵĞŶƚ&ŝŶĂŶĐŝŶŐƉƉůŝĐĂƚŝŽŶ&ĞĞ;d/&ͿΨϴ͕ϬϬϬ͘ϬϬΨϱ͕ϬϬϬ͘ϬϬ &ŝƌĞ ^ĞƌǀŝĐĞϮϬϮϲ&ĞĞϮϬϮϱ&ĞĞ WĞƌŵŝƚƉƉůŝĐĂƚŝŽŶ&ĞĞΨϳϱ͘ϬϬΨϳϱ͘ϬϬ &ŝƌĞŽĚĞ^ƉĞĐŝĨŝĞĚKƉĞƌĂƚŝŽŶĂůWĞƌŵŝƚΨϳϱ͘ϬϬΨϳϱ͘ϬϬ &ŝƌĞWƌŽƚĞĐƚŝŽŶ^LJƐƚĞŵŽŶƐƚƌƵĐƚŝŽŶͬDŽĚŝĨŝĐĂƚŝŽŶWĞƌŵŝƚϯ͘ϬйŽĨƚŚĞƐLJƐƚĞŵĐŽƐƚǁŝƚŚĂŵŝŶŝŵƵŵŽĨΨϳϱ͘ϬϬϯ͘ϬйŽĨƚŚĞƐLJƐƚĞŵĐŽƐƚǁŝƚŚĂŵŝŶŝŵƵŵŽĨΨϳϱ͘ϬϬ ŶŝŶƐƉĞĐƚŝŽŶĨĞĞĨŽƌǁŽƌŬǁŝƚŚŽƵƚĂĨŝƌĞĚĞƉĂƌƚŵĞŶƚŶŝŶƐƉĞĐƚŝŽŶĨĞĞĨŽƌǁŽƌŬǁŝƚŚŽƵƚĂĨŝƌĞĚĞƉĂƌƚŵĞŶƚ ĐŽŶƐƚƌƵĐƚŝŽŶƉĞƌŵŝƚƐŚĂůůďĞĂƐƐĞƐƐĞĚŝŶƚŚĞĂŵŽƵŶƚĐŽŶƐƚƌƵĐƚŝŽŶƉĞƌŵŝƚƐŚĂůůďĞĂƐƐĞƐƐĞĚŝŶƚŚĞĂŵŽƵŶƚ tŽƌŬǁŝƚŚŽƵƚĂWĞƌŵŝƚ^ƉĞĐŝĂů/ŶƐƉĞĐƚŝŽŶĞƋƵĂůƚŽƚŚĞŶŽƌŵĂůĨŝƌĞĚĞƉĂƌƚŵĞŶƚĐŽŶƐƚƌƵĐƚŝŽŶĨĞĞ͘ĞƋƵĂůƚŽƚŚĞŶŽƌŵĂůĨŝƌĞĚĞƉĂƌƚŵĞŶƚĐŽŶƐƚƌƵĐƚŝŽŶĨĞĞ͘ sŝŽůĂƚŝŽŶEŽƚŝĐĞZĞͲ/ŶƐƉĞĐƚŝŽŶΨϭϱϬ͘ϬϬΨϭϱϬ͘ϬϬ &ŝƌĞWƌŽƚĞĐƚŝŽŶƋƵŝƉŵĞŶƚDĂŝŶƚĞŶĂŶĐĞĚŵŝŶŝƐƚƌĂƚŝǀĞ&ĞĞΨϭϱ͘ϬϬΨϭϱ͘ϬϬ ƵƚŚŽƌŝnjĞĚƵƌŶŝŶŐΨϯϬϬ͘ϬϬΨϯϬϬ͘ϬϬ WŽůŝĐĞ ^ĞƌǀŝĐĞϮϬϮϲ&ĞĞϮϬϮϱ&ĞĞ WĂǁŶ^ŚŽƉdƌĂŶƐĂĐƚŝŽŶ&ĞĞƐ;ƉĞƌƚƌĂŶƐĂĐƚŝŽŶͿΨϭ͘ϱϬΨϭ͘ϱϬ ŶŝŵĂůŽŶƚƌŽůĚŽƉƚŝŽŶ&ĞĞƐΨϱϬ͘ϬϬΨϱϬ͘ϬϬ ŶŝŵĂůŽŶƚƌŽů/ŵƉŽƵŶĚ&ĞĞƐΨϱϱ͘ϬϬΨϱϱ͘ϬϬ ŶŝŵĂůŽŶƚƌŽůŽĂƌĚŝŶŐ&ĞĞ;ƉĞƌĚĂLJͿΨϯϱ͘ϬϬΨϯϱ͘ϬϬ ŶŝŵĂůŽŶƚƌŽůKƚŚĞƌ&ĞĞƐ KǁŶĞƌZĞůĞĂƐĞǁŝƚŚĐƵƌƌĞŶƚƐŚŽƚƐΨϯϱ͘ϬϬΨϯϱ͘ϬϬ KǁŶĞƌZĞůĞĂƐĞǁŝƚŚŽƵƚĐƵƌƌĞŶƚƐŚŽƚƐŽƌKǁŶĞƌƌĞůĞĂƐĞƵŶĂůƚĞƌĞĚΨϳϱ͘ϬϬΨϳϱ͘ϬϬ ŶŝŵĂůŽŶƚƌŽů&ĞĞƐĨŽƌdŽǁŶƐŚŝƉƐ ĂŶŐĞƌŽƵƐŽŐĂůůŽƵƚ;ƉĞƌŚŽƵƌ͕ϮŚƌ͘ŵŝŶŝŵƵŵͿΨϱϬ͘ϬϬΨϱϬ͘ϬϬ sĞŚŝĐůĞhƐĂŐĞ&ĞĞΨϮϱ͘ϬϬΨϮϱ͘ϬϬ /ŵƉŽƵŶĚ&ĞĞΨϱϱ͘ϬϬΨϱϱ͘ϬϬ ĂŝůLJŽĂƌĚŝŶŐ&ĞĞΨϯϱ͘ϬϬΨϯϱ͘ϬϬ KǁŶĞƌZĞůĞĂƐĞ&ĞĞΨϳϱ͘ϬϬΨϳϱ͘ϬϬ ŽƉŝĞƐŽƌdƌĂŶƐŵŝƐƐŝŽŶŽĨůĞĐƚƌŽŶŝĐZĞĐŽƌĚƐ ^ƚĂƚĞĐĐŝĚĞŶƚZĞƉŽƌƚƐΨϬ͘ϬϬΨϬ͘ϬϬ WƵďůŝĐZĞƉŽƌƚƐ;ůĞƐƐƚŚĂŶϰƉĂŐĞƐͿΨϬ͘ϬϬΨϬ͘ϬϬ WƵďůŝĐZĞƉŽƌƚƐ;ϰͲϭϬϬ͕ƉĞƌƉĂŐĞƐ͕ƉĞƌƉĂŐĞΨϬ͘ϮϱΨϬ͘Ϯϱ ΨϯϬͬŚƌ͘;ŵŝŶŽĨϭͬϰŚƌ͘ŝŶĐƌĞŵĞŶƚͿсΨϯϬͬŚƌ͘;ŵŝŶŽĨϭͬϰŚƌ͘ŝŶĐƌĞŵĞŶƚͿс WƵďůŝĐZĞƉŽƌƚƐ;ŽǀĞƌϭϬϬƉĂŐĞƐͿƌĞƐĞĂƌĐŚͬĐŽŵƉŝůĂƚŝŽŶнĐŽƐƚŽĨŵĞĚŝĂнĐŽƐƚŽĨŵĂŝůŝŶŐƌĞƐĞĂƌĐŚͬĐŽŵƉŝůĂƚŝŽŶнĐŽƐƚŽĨŵĞĚŝĂнĐŽƐƚŽĨŵĂŝůŝŶŐ ŝŐŝƚĂůƉŚŽƚŽƐͲĞŵĂŝůŽƌ;ƉĞƌĐĂƐĞͿΨϭϬ͘ϬϬΨϭϬ͘ϬϬ ŝŐŝƚĂůĂƵĚŝŽͲĞŵĂŝůŽƌ;ƉĞƌĐĂƐĞͿΨϭϬ͘ϬϬΨϭϬ͘ϬϬ ŝŐŝƚĂůǀŝĚĞŽͲĞŵĂŝůŽƌ;ƉĞƌĐĂƐĞͿΨϭϬ͘ϬϬEͬ ŽĚLJĂŵ;ƉĞƌĐĂƐĞͿΨϯϬ͘ϬϬΨϯϬ͘ϬϬ ΨϯϬͬŚƌ͘;ŵŝŶŽĨϭͬϰŚƌ͘ŝŶĐƌĞŵĞŶƚͿсƚƌĂŶƐĐƌŝƉƚŝŽŶнĐŽƐƚΨϯϬͬŚƌ͘;ŵŝŶŽĨϭͬϰŚƌ͘ŝŶĐƌĞŵĞŶƚͿсƚƌĂŶƐĐƌŝƉƚŝŽŶнĐŽƐƚ ϵϭϭdƌĂŶƐĐƌŝƉƚŽĨŵĞĚŝĂ;ŝĨĂŶLJͿнĐŽƐƚŽĨŵĂŝůŝŶŐŽĨŵĞĚŝĂ;ŝĨĂŶLJͿнĐŽƐƚŽĨŵĂŝůŝŶŐ ĂĐŬŐƌŽƵŶĚŚĞĐŬƐ;ƉĞƌŶĂŵĞĐŚĞĐŬĞĚͿΨϳ͘ϱϬΨϳ͘ϱϬ ĂůůƐĨŽƌ^ĞƌǀŝĐĞ^ƵŵŵĂƌŝĞƐ;ƉĞƌƐŝdžŵŽŶƚŚƐͿΨϳ͘ϱϬΨϳ͘ϱϬ WĂƌŬƐĂŶĚZĞĐƌĞĂƚŝŽŶ;ĚŽƉƚĞĚďLJWĂƌŬŽĂƌĚĂŶĚ/ŶĐŽƌƉŽƌĂƚĞĚĨŽƌZĞĨĞƌĞŶĐĞͿ ^ĞƌǀŝĐĞϮϬϮϲ&ĞĞϮϬϮϱ&ĞĞ 'ŽůĨŝǀŝƐŝŽŶ ^ĞĂƐŽŶWĂƐƐ&ĞĞƐ;ƚĂdžEKdŝŶĐůƵĚĞĚͿ ĚƵůƚZĞŐƵůĂƌ^ĞĂƐŽŶΨϭ͕ϮϱϱΨϭ͕Ϯϭϴ ^ĞŶŝŽƌZĞŐƵůĂƌ^ĞĂƐŽŶΨϭ͕ϬϵϳΨϭ͕Ϭϲϱ ĚƵůƚŽƵƉůĞZĞŐƵůĂƌ^ĞĂƐŽŶΨϭ͕ϳϮϴΨϭ͕ϲϳϴ &ĂŵŝůLJZĞŐƵůĂƌ^ĞĂƐŽŶ;ĂůůŵĞŵďĞƌƐŽĨƐĂŵĞĨĂŵŝůLJŝŶƐĂŵĞŚŽƵƐĞŚŽůĚ͕ũƵŶŝŽƌƐ Ψϭ͕ϴϴϲΨϭ͕ϴϯϭ ĂŐĞϭϴĂŶĚƵŶĚĞƌͿ ^ĞŶŝŽƌŽƵƉůĞZĞŐƵůĂƌ^ĞĂƐŽŶ;ŶŽŐƌĂŶĚĐŚŝůĚƌĞŶͿΨϭ͕ϲϭϴΨϭ͕ϱϳϬ &ƵƚƵƌĞƐZĞŐƵůĂƌ^ĞĂƐŽŶ;ĂŐĞƐϭϵƚŽϮϱͿΨϱϱϮΨϱϯϲ zŽƵŶŐĚƵůƚZĞŐƵůĂƌ^ĞĂƐŽŶ;ĂŐĞƐϮϲƚŽϯϬͿΨϴϱϮΨϴϮϳ zŽƵŶŐĚƵůƚŽƵƉůĞZĞŐƵůĂƌ^ĞĂƐŽŶ;ďŽƚŚŵƵƐƚďĞƵŶĚĞƌĂŐĞϯϬͿΨϭ͕ϭϴϰΨϭ͕ϭϰϵ :ƵŶŝŽƌZĞŐƵůĂƌ^ĞĂƐŽŶ;ƚŽĂŐĞϭϴ͕ĂůůϰŐŽůĨĐŽƵƌƐĞƐͿΨϮϴϰΨϮϳϲ WĂƚƌŽŶĂƌĚZĞŐƵůĂƌ^ĞĂƐŽŶ;ϮϱйŽĨĨŐƌĞĞŶĨĞĞƐͿΨϭϭϴΨϭϭϴ ,ĂĚůĞLJƌĞĞŬĚƵůƚZĞŐƵůĂƌ^ĞĂƐŽŶΨϲϮϯΨϲϬϱ ,ĂĚůĞLJƌĞĞŬ&ĂŵŝůLJZĞŐƵůĂƌ^ĞĂƐŽŶΨϭ͕ϬϵϳΨϭ͕Ϭϲϱ WƌŝǀĂƚĞ'ŽůĨĂƌ&ĞĞZĞŐƵůĂƌ^ĞĂƐŽŶΨϰϵϯΨϰϵϯ ,ĂĚůĞLJƌĞĞŬWƌŝǀĂƚĞ'ŽůĨĂƌ&ĞĞZĞŐƵůĂƌ^ĞĂƐŽŶΨϮϯϱΨϮϯϱ ĂŝůLJ&ĞĞƐ;ƚĂdžŝŶĐůƵĚĞĚͿ ΨϮϰΨϮϯ ϵ,ŽůĞ'ƌĞĞŶ&ĞĞ ΨϮϭΨϮϬ ϵ,ŽůĞ^ĞŶŝŽƌ'ƌĞĞŶ&ĞĞ ΨϭϴΨϭϳ ϵ,ŽůĞWĂƚƌŽŶ'ƌĞĞŶ&ĞĞ ΨϭϮΨϭϮ ϵ,ŽůĞ:ƵŶŝŽƌ'ƌĞĞŶ&ĞĞ;ƚŽĂŐĞϭϴͿ ΨϭϲΨϭϱ ϵ,ŽůĞ^ĞŶŝŽƌWĂƚƌŽŶ'ƌĞĞŶ&ĞĞ ΨϰϬΨϯϴ ϭϴ,ŽůĞ'ƌĞĞŶ&ĞĞ ΨϯϱΨϯϰ ϭϴ,ŽůĞ^ĞŶŝŽƌ'ƌĞĞŶ&ĞĞ ΨϯϬΨϮϵ ϭϴ,ŽůĞWĂƚƌŽŶ'ƌĞĞŶ&ĞĞ ΨϮϱΨϮϰ ϭϴ,ŽůĞ:ƵŶŝŽƌ'ƌĞĞŶ&ĞĞ;ƚŽĂŐĞϭϴͿ ΨϮϲΨϮϱ ϭϴ,ŽůĞ^ĞŶŝŽƌWĂƚƌŽŶ'ƌĞĞŶ&ĞĞ ΨϭϲΨϭϲ ϮŶĚϵ,ŽůĞ'ƌĞĞŶ&ĞĞ ΨϭϰΨϭϯ ϮŶĚϵ,ŽůĞ^ĞŶŝŽƌ'ƌĞĞŶ&ĞĞ ΨϭϮΨϭϮ ϮŶĚϵ,ŽůĞWĂƚƌŽŶ'ƌĞĞŶ&ĞĞ ΨϭϬΨϭϬ ϮŶĚϵ,ŽůĞ^ĞŶŝŽƌWĂƚƌŽŶ'ƌĞĞŶ&ĞĞ ΨϳϮΨϳϮ ĂŝůLJ^ƉĞĐŝĂůŽŵďŽ;'ƌĞĞŶ&ĞĞнĂƌƚĨŽƌϮƉĞŽƉůĞͿ Ψϭ͕ϮϬϬΨϭ͕ϬϵϮ ƌŽƐƐŽƵŶƚƌLJ&ĞĞ Ăƌƚ&ĞĞƐ;ƚĂdžŝŶĐůƵĚĞĚͿ ΨϭϳΨϭϳ ϭϴ,ŽůĞŶLJĂLJ;WĞƌƌŝĚĞƌͿ ΨϭϭΨϭϭ ϵ,ŽůĞŶLJĂLJ;WĞƌƌŝĚĞƌͿ ΨϭϰΨϭϰ ϭϴ,ŽůĞ^ĞŶŝŽƌŶLJĂLJ;WĞƌƌŝĚĞƌͿ ΨϭϭΨϭϭ ϵ,ŽůĞ^ĞŶŝŽƌŶLJĂLJ;WĞƌƌŝĚĞƌͿ ,ĂĚůĞLJƌĞĞŬ'ŽůĨ>ĞĂƌŶŝŶŐĞŶƚĞƌ ĂŝůLJ&ĞĞƐ;ƚĂdžŝŶĐůƵĚĞĚͿ Ψϲ͘ϬϬΨϱ͘ϬϬ ƵĐŬĞƚŽĨĂůůƐͲ^ŵĂůů Ψϵ͘ϬϬΨϴ͘ϬϬ DĞĚŝƵŵ Ψϭϲ͘ϬϴΨϭϱ͘ϲϭ ϵ,ŽůĞ'ƌĞĞŶ&ĞĞ Ψϵ͘ϵϬΨϵ͘ϲϭ ϵ,ŽůĞWĂƚƌŽŶ'ƌĞĞŶ&ĞĞ Ψϵ͘ϵϬΨϵ͘ϲϭ ϵ,ŽůĞ:ƵŶŝŽƌ'ƌĞĞŶ&ĞĞ Ψϳ͘ϬϬΨϲ͘ϬϬ &ŝƌƐƚdĞĞWůĂLJĞƌ Ψϭϭ͘ϭϯΨϭϬ͘ϴϭ ϮŶĚϵ,ŽůĞ'ƌĞĞŶ&ĞĞ Ψϴ͘ϯϱΨϴ͘ϭϭ ϮŶĚϵ,ŽůĞWĂƚƌŽŶ'ƌĞĞŶ&ĞĞ Ψϭϳ͘ϬϬΨϭϳ͘ϬϬ ϵĂƌƚ Ψϰ͘ϬϬΨϰ͘ϬϬ WƵůůĂƌƚ Ψϱ͘ϬϬΨϱ͘ϬϬ ZĞŶƚĂůůƵďƐ KƚŚĞƌ;ůů&ĂĐŝůŝƚŝĞƐͿ ΨϮϱ͘ϬϬͲΨϮϬϬ͘ϬϬΨϮϱ͘ϬϬͲΨϮϬϬ͘ϬϬ 'ŽůĨ>ĞƐƐŽŶƐ;ƚĂdžŝŶĐůƵĚĞĚͿ &ŽƌĞƐƚƌLJŝǀŝƐŝŽŶ ΨϴϬ͘ϬϬΨϴϬ͘ϬϬ ŽŵŵĞƌĐŝĂůdƌĞĞ>ŝĐĞŶƐĞ ΨϱϬ͘ϬϬΨϱϬ͘ϬϬ WĂƌŬŝƐƚƵƌďĂŶĐĞWĞƌŵŝƚ ΨϱϬ͘ϬϬΨϱϬ͘ϬϬ ŽƵůĞǀĂƌĚdƌĞĞWůĂŶƚŝŶŐ&ĞĞ;ƉĞƌƚƌĞĞͿ Ψϯϱ͘ϬϬΨϯϱ͘ϬϬ 'ĂƌĚĞŶWůŽƚƐ ΨϯϮϬ͘ϬϬΨϮϴϬ͘ϬϬ ĂŶŽƉLJ>ŽƐƐ&ĞĞ;ƉĞƌĚŝĂŵĞƚĞƌŝŶĐŚͿ WĂƌŬŝǀŝƐŝŽŶ WŝĐŶŝĐ^ŚĞůƚĞƌZĞƐĞƌǀĂƚŝŽŶƐ;ƚĂdžEKdŝŶĐůƵĚĞĚͿ Ψϭ͕ϬϬϬ͘ϬϬΨϭ͕ϬϬϬ͘ϬϬ >ĞǀĞůWƌĞŵŝĞƌͲĂƐĐĂĚĞ>ĂŬĞƐŝĚĞ;&ƌŝĚĂLJͲ^ƵŶĚĂLJͿ ΨϱϬϬ͘ϬϬΨϱϬϬ͘ϬϬ ĂƐĐĂĚĞ>ĂŬĞƐŝĚĞ;DŽŶĚĂLJͲdŚƵƌƐĚĂLJͿ ΨϯϱϬ͘ϬϬΨϯϱϬ͘ϬϬ >ĞǀĞů/ͲĞĂƌƌĞĞŬWĂƌŬ;ϯϬϬƉĞƌƐŽŶƐͿ ΨϯϱϬ͘ϬϬΨϯϱϬ͘ϬϬ ƐƐĞdžWĂƌŬ;ϯϬϬƉĞƌƐŽŶƐͿ ΨϯϱϬ͘ϬϬΨϯϱϬ͘ϬϬ tĞƐƚ^ŝůǀĞƌ>ĂŬĞ;ϭϬϬƉĞƌƐŽŶƐͿ ĂƐĐĂĚĞŵƉŚŝƚŚĞĂƚĞƌ;ϯϬϬƉĞƌƐŽŶƐͿΎ,ŝŐŚĞƌĂƚƚĞŶĚĂŶĐĞŝƐĂŶĞǀĞŶƚƚŚĂƚŝƐ ĐĂůĐƵůĂƚĞĚƐĞƉĂƌĂƚĞůLJΨϯϱϬ͘ϬϬΨϯϱϬ͘ϬϬ ΨϮϱϬ͘ϬϬΨϮϱϬ͘ϬϬ ^ŝůǀĞƌ>ĂŬĞdŚƌĞĞ>ŝŶŬƐ;ϭϬϬƉĞƌƐŽŶƐ͕ƉĞƌϰŚŽƵƌƐͿ >ĞǀĞů//ͲŽŽŬ͕^ůĂƚƚĞƌůLJ͕ĂƐƚ^ŝůǀĞƌ>ĂŬĞ͕^ŽůĚŝĞƌƐ&ŝĞůĚ͕YƵĂƌƌLJ,ŝůůWĂƌŬƐ;ϭϮϱ ƉĞƌƐŽŶƐͿΨϮϱϬ͘ϬϬΨϮϱϬ͘ϬϬ >ĞǀĞů///ͲĞŶƚƌĂů͕ĂƐƚǁŽŽĚ͕&ŽƐƚĞƌͲƌĞŶĚ͕<ƵƚnjŬLJ͕ZĞǀ͘ƌ͘DĂƌƚŝŶ>ƵƚŚĞƌ<ŝŶŐ͕:ƌ͕͘ tĂƚƐŽŶ͕ĂƐĐĂĚĞWĂǀŝůůŝŽŶWĂƌŬƐ;ϱϬWĞƌƐŽŶƐͿΨϭϱϬ͘ϬϬΨϭϱϬ͘ϬϬ ^ŝůǀĞƌ>ĂŬĞ^ƚĂƚŝŽŶDĂŝŶ&ůŽŽƌZĞŶƚĂů;ƉĞƌŚŽƵƌͿΨϮϱ͘ϬϬΨϮϱ͘ϬϬ ΨϰϬ͘ϬϬΨϰϬ͘ϬϬ KƉĞŶ^ƉĂĐĞ&ŝĞůĚZĞƐĞƌǀĂƚŝŽŶ;ƉĞƌϮ͘ϱŚŽƵƌƐ͕ĂƉƉƌŽdž͘ϮϬϬdžϯϬϬͿ ΨϯϬ͘ϬϬΨϯϬ͘ϬϬ ĚŵŝŶŝƐƚƌĂƚŝǀĞ&ĞĞ ΨϱϬ͘ϬϬΨϱϬ͘ϬϬ WĂƌŬŝƐƚƵƌďĂŶĐĞ&ĞĞ ΨϱϬ͘ϬϬΨϱϬ͘ϬϬ <ĞLJĞƉŽƐŝƚ ΎzŽƵƚŚƚĞĂŵƐƉĂLJŝŶŐƚŚĞĨŝĞůĚŵĂŝŶƚĞŶĂŶĐĞĨĞĞǁŝůůŶŽƚΎzŽƵƚŚƚĞĂŵƐƉĂLJŝŶŐƚŚĞĨŝĞůĚŵĂŝŶƚĞŶĂŶĐĞĨĞĞǁŝůůŶŽƚ &ŝĞůĚZĞƐĞƌǀĂƚŝŽŶƐ;ƚĂdžEKdŝŶĐůƵĚĞĚͿďĞĐŚĂƌŐĞĚĂƌĞŶƚĂůĨĞĞĞdžĐĞƉƚŽŶƐĞůĞĐƚĨŝĞůĚƐ͘ďĞĐŚĂƌŐĞĚĂƌĞŶƚĂůĨĞĞĞdžĐĞƉƚŽŶƐĞůĞĐƚĨŝĞůĚƐ͘ WůĂLJĞƌDĂŝŶƚĞŶĂŶĐĞ&ĞĞͲzŽƵƚŚ;ƉĞƌƉůĂLJĞƌͿΨϭϲ͘ϬϬΨϭϰ͘ϬϬ Ψϭϳϱ͘ϬϬΨϭϱϬ͘ϬϬ DĂLJŽ&ŝĞůĚͲĚƵůƚƐ;ƉĞƌŐĂŵĞͿ ΨϭϬϬ͘ϬϬΨϳϱ͘ϬϬ DĂLJŽ&ŝĞůĚͲzŽƵƚŚ;ƉĞƌŐĂŵĞͿ ΨϭϱϬ͘ϬϬΨϭϯϬ͘ϬϬ ,ƵĚƐŽŶ&ŝĞůĚͲĚƵůƚƐ;ƉĞƌŐĂŵĞͿ Ψϳϱ͘ϬϬΨϲϱ͘ϬϬ ,ƵĚƐŽŶ&ŝĞůĚͲzŽƵƚŚ;ƉĞƌŐĂŵĞͿ ΨϱϬ͘ϬϬΨϰϱ͘ϬϬ DĐYƵŝůůĂŶͲĚƵůƚƐ;ƉĞƌŐĂŵĞ͕ƉĞƌĨŝĞůĚͿ ΨϮϱ͘ϬϬΨϮϱ͘ϬϬ DĐYƵŝůůĂŶͲzŽƵƚŚ;ƉĞƌŐĂŵĞΎͿ ΨϳϱϬ͘ϬϬΨϱϬϬ͘ϬϬ DĐYƵŝůůĂŶŽŵƉůĞdž;ƉĞƌĚĂLJ͕ĂůůĨŝĞůĚƐͿ ΨϰϬ͘ϬϬΨϯϬ͘ϬϬ ŚƵƌĐŚ>ĞĂŐƵĞ;ƉĞƌŐĂŵĞͿ ΨϱϬ͘ϬϬΨϯϬ͘ϬϬ ^ŽůĚŝĞƌƐ&ŝĞůĚͲĚƵůƚƐ;ƉĞƌŐĂŵĞͿ ΨϮϱ͘ϬϬΨϯϬ͘ϬϬ ^ŽůĚŝĞƌƐ&ŝĞůĚͲzŽƵƚŚ;ƉĞƌŐĂŵĞΎͿ ΨϳϱϬ͘ϬϬΨϱϬϬ͘ϬϬ zŽƵƚŚ&ĂƐƚƉŝƚĐŚŽŵƉůĞdž;ƉĞƌĚĂLJ͕ϱĨŝĞůĚƐĨŽƌƚŽƵƌŶĂŵĞŶƚƐͿ ΨϭϱϬ͘ϬϬΨϭϯϬ͘ϬϬ ZĂƐĞďĂůů&ŝĞůĚƐηϭͲηϰͲĚƵůƚƐ;ƉĞƌŐĂŵĞͿ Ψϳϱ͘ϬϬΨϲϱ͘ϬϬ ZĂƐĞďĂůů&ŝĞůĚƐηϭͲηϰͲzŽƵƚŚ;ƉĞƌŐĂŵĞΎͿ Ψϳϱ͘ϬϬΨϱϬ͘ϬϬ ZĂƐĞďĂůů&ŝĞůĚƐηϱΘηϲͲĚƵůƚƐ;ƉĞƌŐĂŵĞͿ ΨϰϬ͘ϬϬΨϮϱ͘ϬϬ ZĂƐĞďĂůů&ŝĞůĚƐηϱΘηϲͲzŽƵƚŚ;ƉĞƌŐĂŵĞΎͿ ΨϱϬ͘ϬϬΨϯϬ͘ϬϬ tĂƚƐŽŶ&ŝĞůĚƐ;ƉĞƌŐĂŵĞͿ ΨϱϬϬ͘ϬϬΨϱϬϬ͘ϬϬ tĂƚƐŽŶŽŵƉůĞdž;ƉĞƌĚĂLJ͕ϰĨŝĞůĚƐĨŽƌƚŽƵƌŶĂŵĞŶƚƐͿ 'ĞŶĞƌĂůĂůůŝĂŵŽŶĚƐΘ^ƉŽƌƚƐ&ŝĞůĚƐ;ƉĞƌŐĂŵĞͿΨϰϬ͘ϬϬΨϯϬ͘ϬϬ Ψϳϱ͘ϬϬΨϳϬ͘ϬϬ &ŝĞůĚWƌĞƉͲƌĂŐ&ŝĞůĚ &ŝĞůĚWƌĞƉͲ>ŝŶĞ&ŝĞůĚ;&ĞĞƐŝŶĐůƵĚĞĨŝĞůĚĚƌĂŐŐŝŶŐDŽŶĚĂLJͲ&ƌŝĚĂLJͿΨϰϱ͘ϬϬΨϰϱ͘ϬϬ &ŝĞůĚWƌĞƉͲDŽǀĞĂƐĞƐ;&ĞĞƐŝŶĐůƵĚĞĨŝĞůĚĚƌĂŐŐŝŶŐDŽŶĚĂLJͲ&ƌŝĚĂLJͿΨϳϱ͘ϬϬΨϲϬ͘ϬϬ &ŝĞůĚWƌĞƉͲůĞĂŶ'ƌĂŶĚƐƚĂŶĚΘZĞƐƚƌŽŽŵƐĂƚDĂLJŽ&ŝĞůĚ;&ĞĞƐŝŶĐůƵĚĞĨŝĞůĚ ĚƌĂŐŐŝŶŐDŽŶĚĂLJͲ&ƌŝĚĂLJͿΨϲϬϬ͘ϬϬΨϱϬϬ͘ϬϬ ΨϰϬ͘ϬϬΨϯϬ͘ϬϬ ^ĂŶĚsŽůůĞLJďĂůů;ƉĞƌŐĂŵĞ͕ƉĞƌĐŽƵƌƚͿ Ψϯϱ͘ϬϬΨϯϱ͘ϬϬ ŽƵƌƚWƌĞƉͲƌĂŐ&ŝĞůĚ Ψϳϱ͘ϬϬΨϲϬ͘ϬϬ ^ŽůĚŝĞƌƐ&ŝĞůĚ^ŽĐĐĞƌͬ&ŽŽƚďĂůůͲĚƵůƚƐ;ƉĞƌŐĂŵĞ͕ϮŚŽƵƌĞǀĞŶƚƐͿ ΨϰϬ͘ϬϬΨϯϬ͘ϬϬ ^ŽůĚŝĞƌƐ&ŝĞůĚ^ŽĐĐĞƌͬ&ŽŽƚďĂůůͲzŽƵƚŚ;ƉĞƌŐĂŵĞΎͿ Ψϳϱ͘ϬϬΨϲϬ͘ϬϬ &ƵĂĚDĂŶƐŽƵƌ^ŽĐĐĞƌͲĚƵůƚƐ;ƉĞƌŐĂŵĞͿ Ψϳϱ͘ϬϬΨϲϬ͘ϬϬ tĂƚƐŽŶ^ŽĐĐĞƌ;ƉĞƌŐĂŵĞͿ Ψϳϱ͘ϬϬΨϲϬ͘ϬϬ tŝƚŚĞƌƐ^ŽĐĐĞƌ;ƉĞƌŐĂŵĞͿ ΨϱϬ͘ϬϬΨϰϬ͘ϬϬ ^ŝůǀĞƌ>ĂŬĞ^ŽĐĐĞƌ;ƉĞƌŐĂŵĞ͕ϮŚŽƵƌĞǀĞŶƚƐͿ ΨϱϬ͘ϬϬΨϰϬ͘ϬϬ ^ŽƵƚŚĞƌŶtŽŽĚƐ^ŽĐĐĞƌ;ƉĞƌŐĂŵĞ͕ůŝŶŝŶŐĞdžƚƌĂͿ ΨϱϬ͘ϬϬΨϰϬ͘ϬϬ D><^ŽĐĐĞƌ;ƉĞƌŐĂŵĞ͕ůŝŶŝŶŐĞdžƚƌĂͿ ΨϰϬ͘ϬϬΨϯϬ͘ϬϬ &ƵĂĚDĂŶƐŽƵƌ^ŽĐĐĞƌͲ^ĐŚŽŽůƐ;ƉĞƌŐĂŵĞΎͿ tĂƚƐŽŶ^ŽĐĐĞƌ tŝƚŚĞƌƐ^ŽĐĐĞƌ ΨϱϬ͘ϬϬΨϭϱϬ͘ϬϬ &ŝĞůĚWƌĞƉͲWĂŝŶƚ&ŝĞůĚ;,ŽƵƌůLJͿ Ψϳϱ͘ϬϬΨϲϬ͘ϬϬ hZ&ŽŽƚďĂůů&ŝĞůĚƐͲĚƵůƚ;ƉĞƌŐĂŵĞͿ ΨϰϬ͘ϬϬΨϯϬ͘ϬϬ hZ&ŽŽƚďĂůů&ŝĞůĚƐͲ^ĐŚŽŽůƐ;ƉĞƌŐĂŵĞΎͿ ΨϱϬ͘ϬϬΨϮϬϬ͘ϬϬ &ŝĞůĚWƌĞƉͲWĂŝŶƚ&ŝĞůĚ;,ŽƵƌůLJͿ ΨϳϱϬ͘ϬϬΨϱϬϬ͘ϬϬ &ƵĂĚDĂŶƐŽƵƌ^ŽĐĐĞƌŽŵƉůĞdž;ƉĞƌĚĂLJ͕ϲĨŝĞůĚƐͿ ΨϲϬϬ͘ϬϬΨϱϬϬ͘ϬϬ tĂƚƐŽŶ^ŽĐĐĞƌŽŵƉůĞdž;ƉĞƌĚĂLJ͕ϲĨŝĞůĚƐͿ ΨϱϬϬ͘ϬϬΨϱϬϬ͘ϬϬ tŝƚŚĞƌƐ^ŽĐĐĞƌŽŵƉůĞdž;ƉĞƌĚĂLJ͕ϯĨŝĞůĚƐͿ WĂƌŬ>ĂďŽƌZĂƚĞƐ ΨϱϬ͘ϬϬΨϰϬ͘ϬϬ ZĞŐƵůĂƌ,ŽƵƌƐDŽŶĚĂLJͲ&ƌŝĚĂLJ;ƉĞƌŚŽƵƌͿ ΨϳϬ͘ϬϬΨϲϬ͘ϬϬ KǀĞƌƚŝŵĞ;ƉĞƌŚŽƵƌͿ WĂƌŬ&ƵƌŶŝƚƵƌĞΘDŝƐĐĞůůĂŶĞŽƵƐ;ĨŽƌƵƐĞŝŶWĂƌŬƐ&ĂĐŝůŝƚŝĞƐŽƌŝƚLJ^ƉŽŶƐŽƌĞĚǀĞŶƚ͕ƚĂdžEKdŝŶĐůƵĚĞĚͿ ΨϱϬϬ͘ϬϬΨϯϱϬ͘ϬϬ ,ŝŐŚǁĂLJůĞĂĐŚĞƌ;ƉĞƌďůĞĂĐŚĞƌ͕ƉĞƌĞǀĞŶƚͿ ΨϱϬϬ͘ϬϬΨϯϱϬ͘ϬϬ ^ƉĞĞĚLJůĞĂĐŚĞƌ;ƉĞƌĞǀĞŶƚͿ ΨϭϬϬ͘ϬϬΨϭϬϬ͘ϬϬ WŽƌƚĂďůĞůĞĂĐŚĞƌ;ƉĞƌďůĞĂĐŚĞƌ͕ƉĞƌĞǀĞŶƚͿ ^ŚŽǁŵŽďŝůĞ;ƉĞƌĚĂLJ͕/ŶĐůƵĚĞƐƐĞƚƵƉ͕ƌĞŵŽǀĂůΘϴŶŽŶͲKdŚŽƵƌƐŽĨWΘZƐƚĂĨĨ ĐŽǀĞƌĂŐĞ͕WΘZƐƚĂĨĨKdĐŽǀĞƌĂŐĞŝƐĂĚĚŝƚŝŽŶĂůĂƚŝĚĞŶƚŝĨŝĞĚƌĂƚĞƐͿEŽƚZĞŶƚĞĚΨϭ͕ϴϬϬ͘ϬϬ Ψϭϰ͘ϬϬΨϭϰ͘ϬϬ ŝĂŵŽŶĚƌLJ;ƉĞƌďĂŐͿ ΨϭϬ͘ϬϬΨϭϬ͘ϬϬ WŽǁĚĞƌĞĚDĂƌďůĞ;ƉĞƌďĂŐͿ ΨϭϬ͘ϬϬΨϭϬ͘ϬϬ WĂŝŶƚ;ƉĞƌďĂŐͿ EĂƚŝŽŶĂůsŽůůĞLJďĂůůĞŶƚĞƌ Ψϯϭ͘ϬϬΨϯϭ͘ϬϬ ŽƵƌƚZĞŶƚĂůsŽůůĞLJďĂůů,ŽƵƌůLJ;ƉůƵƐƚĂdžͿ ΨϮϳϬ͘ϬϬΨϮϳϬ͘ϬϬ ŽƵƌƚZĞŶƚĂůsŽůůĞLJďĂůůĂŝůLJ;ƉůƵƐƚĂdžͿ Ψϱϰ͘ϬϬΨϱϰ͘ϬϬ ŽƵƌƚZĞŶƚĂůĂƐŬĞƚďĂůů,ŽƵƌůLJ;ƉůƵƐƚĂdžͿ KƉĞŶsŽůůĞLJďĂůů Ψϲ͘ϬϬΨϲ͘ϬϬ ĚƵůƚĂŝůLJ&ĞĞ Ψϲ͘ϬϬΨϱ͘ϬϬ ^ƚƵĚĞŶƚĂŝůLJ&ĞĞ ΨϲϬ͘ϬϬΨϲϬ͘ϬϬ ĚƵůƚWƵŶĐŚĂƌĚ ΨϲϬ͘ϬϬΨϱϬ͘ϬϬ ^ƚƵĚĞŶƚWƵŶĐŚĂƌĚ WƌŽŐƌĂŵƐ ΨϭϮϬ͘ϬϬΨϭϬϬ͘ϬϬ EsWůĂLJĚĂLJ ΨϭϳϬ͘ϬϬΨϭϲϬ͘ϬϬ KĨĨŝĐŝĂƚĞĚ ΨϭϮϱ͘ϬϬΨϭϮϬ͘ϬϬ hŶŽĨĨŝĐŝĂƚĞĚ ΨϯϬϬ͘ϬϬΨϯϬϬ͘ϬϬ Es^ƵŵŵĞƌ,^>ĞĂŐƵĞ 'ƌĂŚĂŵƌĞŶĂŽŵƉůĞdž Ψϲ͘ϬϬΨϱ͘ϬϬ KƉĞŶ,ŽĐŬĞLJͲzŽƵƚŚ Ψϳ͘ϬϬΨϲ͘ϬϬ KƉĞŶ,ŽĐŬĞLJͲĚƵůƚ /ĐĞZĞŶƚĂů ΨϮϭϬ͘ϬϬΨϮϬϱ͘ϬϬ ,ŽĐŬĞLJŽƌWƌŝǀĂƚĞ^ŬĂƚŝŶŐ;ƉůƵƐƚĂdžͿ ƵŝůĚŝŶŐZĞŶƚĂůͲ^ŚŽǁZĞŶƚĂů ΨϮ͕ϱϬϬ͘ϬϬΨϮ͕ϯϬϬ͘ϬϬ ƌĞŶĂKŶĞ ΨϮ͕ϯϬϬ͘ϬϬΨϮ͕ϭϬϬ͘ϬϬ ƌĞŶĂdǁŽ ΨϮ͕ϯϬϬ͘ϬϬΨϮ͕ϭϬϬ͘ϬϬ ƌĞŶĂdŚƌĞĞ ZĞĐƌĞĂƚŝŽŶŝǀŝƐŝŽŶ WŽŽůƐ ^ŽůĚŝĞƌƐ&ŝĞůĚƋƵĂƚŝĐƐ Ψϭϭ͘ϬϬΨϭϬ͘ϬϬ ĚƵůƚĂŝůLJ&ĞĞ Ψϵ͘ϬϬΨϴ͘ϬϬ zŽƵƚŚĂŝůLJ&ĞĞ Ψϳ͘ϱϬΨϳ͘ϱϬ WƵŶĐŚWĂƐƐͬŝƐĐŽƵŶƚdŝĐŬĞƚƐ ^ŝůǀĞƌ>ĂŬĞWŽŽů Ψϳ͘ϬϬEͬ ĚƵůƚĂŝůLJ&ĞĞ Ψϱ͘ϬϬEͬ zŽƵƚŚĂŝůLJ&ĞĞ Ψϯ͘ϱϬEͬ WƵŶĐŚWĂƐƐͬŝƐĐŽƵŶƚdŝĐŬĞƚƐ ΨϭϱϬ͘ϬϬΨϭϮϬ͘ϬϬ ^ǁŝŵŵŝŶŐWŽŽůZĞŶƚĂů;ƉĞƌŚŽƵƌͿ WŝƉƐƋƵĞĂŬƐ/ŶĚŽŽƌWůĂLJŐƌŽƵŶĚ Ψϯ͘ϬϬΨϯ͘ϬϬ zŽƵƚŚĂŝůLJ&ĞĞ ΨϭϬϬ͘ϬϬΨϵϬ͘ϬϬ WĂƌƚLJ;ƉůƵƐƚĂdž͕ϯͲŚŽƵƌďůŽĐŬͿ ĚƵůƚdĞĂŵ^ƉŽƌƚƐ&ĞĞƐ ΨϰϯϬ͘ϬϬΨϰϯϬ͘ϬϬ ^ƵŵŵĞƌ^ŽĨƚďĂůů ΨϮϭϬ͘ϬϬΨϮϭϬ͘ϬϬ &Ăůů^ŽĨƚďĂůů ΨϮϯϱ͘ϬϬΨϮϯϱ͘ϬϬ ^ƵŵŵĞƌ^ĂŶĚsŽůůĞLJďĂůů Ψϯϰϱ͘ϬϬΨϯϰϱ͘ϬϬ &ĂůůsŽůůĞLJďĂůů Ψϯϰϱ͘ϬϬΨϯϰϱ͘ϬϬ tŝŶƚĞƌsŽůůĞLJďĂůů Ψϯϰϱ͘ϬϬΨϯϰϱ͘ϬϬ ^ƉƌŝŶŐsŽůůĞLJďĂůů ΨϮϴϬ͘ϬϬΨϮϴϬ͘ϬϬ dŽƵĐŚ&ŽŽƚďĂůů ΨϱϬϬ͘ϬϬΨϱϬϬ͘ϬϬ ĂƐŬĞƚďĂůů ΨϯϬϱ͘ϬϬΨϯϬϱ͘ϬϬ ƌŽŽŵďĂůů ΨϭϴϬ͘ϬϬΨϭϴϬ͘ϬϬ <ŝĐŬďĂůů ΨϮϮϬ͘ϬϬΨϮϮϬ͘ϬϬ ŽĚŐĞďĂůů ĐĐĞƐƐďůĞZĞĐƌĞĂƚŝŽŶ ΨϭϬ͘ϬϬͲΨϮϬ͘ϬϬΨϭϬ͘ϬϬͲΨϮϬ͘ϬϬ ĚƵůƚWƌŽŐƌĂŵƐŐĞƐϭϴн;ƉĞƌĚĂLJͿ Ψϭϱ͘ϬϬͲΨϯϬ͘ϬϬΨϭϱ͘ϬϬͲΨϯϬ͘ϬϬ zŽƵƚŚWƌŽŐƌĂŵƐŐĞƐϯͲϭϳ;ƉĞƌĚĂLJ͕ĚĞƉĞŶĚĞŶƚŽŶƐƚĂĨĨŝŶŐŶĞĞĚƐͿ ΨϯϱϬ͘ϬϬͲΨϴϬϬ͘ϬϬΨϯϱϬ͘ϬϬͲΨϴϬϬ͘ϬϬ ^ƵŵŵĞƌĂŵƉƐ;ƉĞƌƐĞƐƐŝŽŶ͕ĚĞƉĞŶĚĞŶƚŽŶƐƚĂĨĨŝŶŐŶĞĞĚƐͿ ZĞĐƌĞĂƚŝŽŶĞŶƚĞƌ WĞƌ^ĞƐƐŝŽŶ&ĞĞƐ Ψϳ͘ϬϬΨϲ͘ϬϬ ĚƵůƚWŽŽů Ψϳ͘ϬϬΨϲ͘ϬϬ zŽƵƚŚWŽŽů Ψϳ͘ϬϬΨϲ͘ϬϬ ĚƵůƚ'LJŵ Ψϳ͘ϬϬΨϲ͘ϬϬ zŽƵƚŚ'LJŵ Ψϳ͘ϬϬΨϲ͘ϬϬ ĚƵůƚ^ŬĂƚĞ Ψϳ͘ϬϬΨϲ͘ϬϬ zŽƵƚŚ^ŬĂƚĞ zĞĂƌůLJͬϲDŽŶƚŚͬϯDŽŶƚŚDĞŵďĞƌƐŚŝƉƐ ΨϰϮϱ͘ϬϬΨϰϬϬ͘ϬϬ &ĂŵŝůLJzĞĂƌůLJ ΨϮϳϱ͘ϬϬΨϮϱϬ͘ϬϬ &ĂŵŝůLJϲDŽŶƚŚƐ ΨϭϱϬ͘ϬϬΨϭϯϬ͘ϬϬ &ĂŵŝůLJϯDŽŶƚŚƐ Ψϭϵϱ͘ϬϬΨϭϳϱ͘ϬϬ ĚƵůƚzĞĂƌůLJ Ψϭϭϱ͘ϬϬΨϭϬϬ͘ϬϬ ĚƵůƚϲDŽŶƚŚƐ Ψϲϱ͘ϬϬΨϱϱ͘ϬϬ ĚƵůƚϯDŽŶƚŚƐ ΨϭϲϬ͘ϬϬΨϭϱϬ͘ϬϬ ^ĞŶŝŽƌŝƚŝnjĞŶzĞĂƌůLJ ΨϭϬϱ͘ϬϬΨϵϱ͘ϬϬ ^ĞŶŝŽƌŝƚŝnjĞŶϲDŽŶƚŚƐ ΨϲϬ͘ϬϬΨϱϬ͘ϬϬ ^ĞŶŝŽƌŝƚŝnjĞŶϯDŽŶƚŚƐ ΨϭϰϬ͘ϬϬΨϭϮϱ͘ϬϬ zŽƵƚŚzĞĂƌůLJ;ϭϴΘƵŶĚĞƌͿ Ψϵϱ͘ϬϬΨϳϱ͘ϬϬ zŽƵƚŚϲDŽŶƚŚƐ;ϭϴΘƵŶĚĞƌͿ ΨϱϬ͘ϬϬΨϰϬ͘ϬϬ zŽƵƚŚϯDŽŶƚŚƐ;ϭϴΘƵŶĚĞƌͿ WŝĐŬůĞďĂůů ΨϯϬ͘ϬϬΨϮϱ͘ϬϬ ϭDŽŶƚŚ Ψϳ͘ϬϬΨϲ͘ϬϬ WĞƌ^ĞƐƐŝŽŶ &ĂĐŝůŝƚLJZĞŶƚĂů ΨϮϬϬ͘ϬϬΨϭϴϬ͘ϬϬ ϱϬDWŽŽů;ƉĞƌŚŽƵƌ͕ƉůƵƐƚĂdž͕ŝŶĐůƵĚĞƐ>ŝĨĞŐƵĂƌĚĨĞĞͿ ϱϬDWŽŽů&ƵůůĂLJDĞĞƚZĂƚĞ;'LJŵŝŶĐůƵĚĞĚŝŶĨƵůůĚĂLJƌĂƚĞͿΨϮ͕ϮϬϬ͘ϬϬΨϭ͕ϵϬϬ͘ϬϬ ϱϬDWŽŽů,ĂůĨĂLJDĞĞƚZĂƚĞ;'LJŵĞdžƚƌĂŝŶŚĂůĨĚĂLJƌĂƚĞͿΨϭ͕ϱϬϬ͘ϬϬΨϭ͕ϭϬϬ͘ϬϬ ΨϭϮϱ͘ϬϬΨϭϮϬ͘ϬϬ dĞĂĐŚŝŶŐͬtĂƌŵhƉWŽŽů;ƉĞƌŚŽƵƌ͕ƉůƵƐƚĂdžͿ ΨϯϱϬ͘ϬϬΨϯϬϬ͘ϬϬ dĞĂĐŚŝŶŐͬtĂƌŵhƉWŽŽů,ĂůĨĂLJ ΨϳϬϬ͘ϬϬΨϱϬϬ͘ϬϬ dĞĂĐŚŝŶŐͬtĂƌŵhƉWŽŽů&ƵůůĂLJ Ψϵ͘ϬϬΨϴ͘ϬϬ WŽŽů>ĂŶĞŚĂƌŐĞ^ŚŽƌƚŽƵƌƐĞ;ƉĞƌŚŽƵƌ͕ƉůƵƐƚĂdžͿ Ψϭϴ͘ϬϬΨϭϲ͘ϬϬ WŽŽů>ĂŶĞŚĂƌŐĞ>ŽŶŐŽƵƌƐĞ;ƉĞƌŚŽƵƌ͕ƉůƵƐƚĂdžͿ ΨϱϬ͘ϬϬΨϱϬ͘ϬϬ 'LJŵŶĂƐŝƵŵ;ƉĞƌŚŽƵƌ͕ƉůƵƐƚĂdžͿ ΨϰϬ͘ϬϬΨϰϬ͘ϬϬ 'LJŵŶĂƐŝƵŵZW;ƉĞƌŚŽƵƌ͕ƉůƵƐƚĂdžͿ ΨϮϬ͘ϬϬΨϮϬ͘ϬϬ 'LJŵŶĂƐŝƵŵϭϮϱ>ŝǀĞ;ƉĞƌŚŽƵƌ͕ƉůƵƐƚĂdžͿ Ψϭϱ͘ϬϬΨϭϱ͘ϬϬ Z&^'LJŵZĞŶƚĂů;ƉĞƌŚŽƵƌͿ ΨϮϭϬ͘ϬϬΨϮϬϱ͘ϬϬ /ĐĞ^ƚĂŶĚĂƌĚ&ĞĞ;ƉĞƌŚŽƵƌ͕ƉůƵƐƚĂdžͿ ΨϭϮϱ͘ϬϬΨϭϮϱ͘ϬϬ 'ƌŝnjnjůŝĞƐWƌĂĐƚŝĐĞ;ƉĞƌŚŽƵƌͿ ΨϴϱϬ͘ϬϬΨϴϱϬ͘ϬϬ 'ƌŝnjnjůŝĞƐ'ĂŵĞ ΨϱϬ͘ϬϬΨϱϬ͘ϬϬ KůŵƐƚĞĚŽƵŶƚLJ/ĐĞ&ĞĞ;ƉĞƌŚŽƵƌͿ ΨϭϮϳ͘ϱϬΨϭϮϱ͘ϬϬ Z&^dĞƐƚŝŶŐ;ƉĞƌŚŽƵƌͿ DĂũŽƌhƐĞƌƐŝƐĐŽƵŶƚĞĚ/ĐĞ ΨϭϵϬ͘ϬϬΨϭϴϳ͘ϱϬ Z&^;ƉĞƌŚŽƵƌ͕ƉůƵƐƚĂdžͿ DĞĞƚŝŶŐZŽŽŵZĞŶƚĂů ŝƌƚŚĚĂLJWĂƌƚLJZŽŽŵZĞŶƚĂůWƵďůŝĐWĂĐŬĂŐĞ;ƉĞƌŚŽƵƌ͕ƉůƵƐƚĂdžͿΨϯϱ͘ϬϬΨϯϬ͘ϬϬ ΨϮϱ͘ϬϬΨϮϬ͘ϬϬ ŝƌƚŚĚĂLJWĂƌƚLJZŽŽŵWƌŝǀĂƚĞZĞŶƚĂů;ƉĞƌŚŽƵƌ͕ƉůƵƐƚĂdžͿ ΨϰϬ͘ϬϬΨϰϬ͘ϬϬ ZŽŽŵZĞŶƚĂůKƵƚƐŝĚĞhƐĞƌ;ƉĞƌŚŽƵƌ͕ƉůƵƐƚĂdžͿ KĨĨŝĐĞZĞŶƚĂů ΨϭϱϬ͘ϬϬΨϭϱϬ͘ϬϬ Z&^;ƉĞƌŵŽŶƚŚͿ ΨϮϱϬ͘ϬϬΨϮϱϬ͘ϬϬ 'ƌŝnjnjůŝĞƐ;ƉĞƌŵŽŶƚŚͿ ΨϮϱϬ͘ϬϬΨϮϱϬ͘ϬϬ ZŽĐŚĞƐƚĞƌ^ǁŝŵůƵď;ƉĞƌŵŽŶƚŚͿ >ŽĐŬĞƌZŽŽŵΘ^ƚŽƌĂŐĞZĞŶƚĂů ΨϮϱϬ͘ϬϬΨϮϱϬ͘ϬϬ Z&^;ƉĞƌŵŽŶƚŚͿ ΨϮϱϬ͘ϬϬΨϮϱϬ͘ϬϬ 'ƌŝnjnjůŝĞƐ;ƉĞƌŵŽŶƚŚͿ Ψϯ͘ϬϬΨϯ͘ϬϬ ^ŬĂƚĞZĞŶƚĂů;ƉĞƌƉĂŝƌͿ ,ŽĐŬĞLJ'ĂŵĞDĂŝŶƚĞŶĂŶĐĞ ΨϭϬϬ͘ϬϬΨϭϬϬ͘ϬϬ &Ƶůů'ĂŵĞ:sĂŶĚsĂƌƐŝƚLJ ΨϱϬ͘ϬϬΨϱϬ͘ϬϬ ,ĂůĨ'ĂŵĞ:sĂŶĚsĂƌƐŝƚLJ ^ŬĂƚĞ^ŚĂƌƉĞŶŝŶŐ Ψϳ͘ϬϬΨϳ͘ϬϬ ,ŽĐŬĞLJŽƌZĞĐƌĞĂƚŝŽŶĂů&ŝŐƵƌĞ^ŬĂƚŝŶŐ Ψϭϱ͘ϬϬΨϭϱ͘ϬϬ EĞǁ^ŬĂƚĞƐ;EĞǀĞƌ^ŚĂƌƉĞŶĞĚͿ WůƵŵŵĞƌ,ŽƵƐĞ Ψϭ͕ϬϬϬ͘ϬϬΨϵϬϬ͘ϬϬ ,ŽƵƐĞZĞŶƚ;ƉůƵƐƚĂdž͕&ƌŝĚĂLJͲ^ĂƚƵƌĚĂLJͿ Ψϭ͕ϮϱϬ͘ϬϬΨϭ͕ϭϱϬ͘ϬϬ ,ŽƵƐĞΘ'ƌŽƵŶĚƐZĞŶƚ;ƉůƵƐƚĂdž͕&ƌŝĚĂLJͲ^ĂƚƵƌĚĂLJͿ ΨϳϱϬ͘ϬϬΨϲϱϬ͘ϬϬ ,ŽƵƐĞZĞŶƚ;ƉůƵƐƚĂdž͕^ƵŶĚĂLJͲdŚƵƌƐĚĂLJͿ Ψϭ͕ϬϬϬ͘ϬϬΨϵϬϬ͘ϬϬ ,ŽƵƐĞΘ'ƌŽƵŶĚƐZĞŶƚ;ƉůƵƐƚĂdž͕^ƵŶĚĂLJͲdŚƵƌƐĚĂLJͿ dŽƵƌƐ;KƉĞŶ,ŽƵƐĞͿ Ψϭϱ͘ϬϬΨϭϬ͘ϬϬ ĚƵůƚ Ψϱ͘ϬϬΨϱ͘ϬϬ zŽƵƚŚ Ψϭϱ͘ϬϬΨϭϬ͘ϬϬ dŽƵƌƐ;WƌŝǀĂƚĞͿ ΨϭϬϬ͘ϬϬΨϭϬϬ͘ϬϬ ĂŶĐĞůůĂƚŝŽŶ&ĞĞ KƵƚĚŽŽƌdĞŶŶŝƐĞŶƚĞƌ Ψϭϲϱ͘ϬϬΨϭϲϱ͘ϬϬ &ĂŵŝůLJ^ĞĂƐŽŶDĞŵďĞƌƐŚŝƉ;ƉůƵƐƚĂdžͿ Ψϭϭϱ͘ϬϬΨϭϭϱ͘ϬϬ ĚƵůƚ^ĞĂƐŽŶDĞŵďĞƌƐŚŝƉ;ƉůƵƐƚĂdžͿ ΨϵϬ͘ϬϬΨϵϬ͘ϬϬ ^ĞŶŝŽƌŝƚŝnjĞŶ^ĞĂƐŽŶDĞŵďĞƌƐŚŝƉ;ƉůƵƐƚĂdžͿ Ψϲϱ͘ϬϬΨϲϱ͘ϬϬ zŽƵƚŚ^ĞĂƐŽŶDĞŵďĞƌƐŚŝƉ;ƉůƵƐƚĂdžͿ ΨϭϬ͘ϬϬΨϭϬ͘ϬϬ ĂŝůLJŽƵƌƚ&ĞĞƐ;ƉĞƌƉĞƌƐŽŶŝŶĐůƵĚĞƐƚĂdžͿ >ŝďƌĂƌLJ;ĚŽƉƚĞĚďLJ>ŝďƌĂƌLJŽĂƌĚĂŶĚ/ŶĐŽƌƉŽƌĂƚĞĚĨŽƌZĞĨĞƌĞŶĐĞͿ ^ĞƌǀŝĐĞϮϬϮϲ&ĞĞϮϬϮϱ&ĞĞ >ŽƐƚͬĂŵĂŐĞĚ/ƚĞŵƐ ZĞƉůĂĐĞŵĞŶƚŽĨ/ƚĞŵsĂƌŝĞƐ͗ĐƚƵĂůZĞƉůĂĐĞŵĞŶƚŽƐƚŽĨ/ƚĞŵsĂƌŝĞƐ͗ĐƚƵĂůZĞƉůĂĐĞŵĞŶƚŽƐƚŽĨ/ƚĞŵ ŽƉŝĞƐͬWƌŝŶƚƐ ŽůŽƌƉĞƌƉĂŐĞΨϬ͘ϮϱΨϬ͘Ϯϱ ůĂĐŬΘtŚŝƚĞƉĞƌƉĂŐĞΨϬ͘ϭϬΨϬ͘ϭϬ &ĂdžͲh^ͬE;ƉĞƌƉĂŐĞͿΨϭ͘ϬϬΨϭ͘ϬϬ EŽŶͲZĞƐŝĚĞŶƚĂƌĚΨϲϬ͘ϬϬEͬ KƵƚͲŽĨͲ^ƚĂƚĞsŝƐŝƚŽƌĂƌĚƐ;ƉĞƌǁĞĞŬͿΨϲ͘ϬϬΨϲ͘ϬϬ ŝƌƉŽƌƚ ^ĞƌǀŝĐĞϮϬϮϲ&ĞĞϮϬϮϱ&ĞĞ 'ƌŽƵŶĚdƌĂŶƐƉŽƌƚĂƚŝŽŶĐĐĞƐƐ&ĞĞƐ;ƉĞƌĚƌŽƉŽĨĨŽƌƉŝĐŬƵƉͿΨϯ͘ϬϬΨϯ͘ϬϬ WĂƌŬŝŶŐ>Žƚ ϬͲϲϬŵŝŶƵƚĞƐ&ƌĞĞ&ƌĞĞ ϭͲϮ,ŽƵƌƐΨϯ͘ϬϬΨϮ͘ϬϬ ĂĐŚĂĚĚŝƚŝŽŶĂůŚŽƵƌΨϭ͘ϬϬΨϭ͘ϬϬ ĂLJDĂdžΨϭϮ͘ϬϬΨϭϭ͘ϬϬ tĞĞŬDĂdžΨϳϮ͘ϬϬΨϲϲ͘ϬϬ DƵƐŝĐĞƉĂƌƚŵĞŶƚ ^ĞƌǀŝĐĞϮϬϮϲ&ĞĞϮϬϮϱ&ĞĞ DĞŵďĞƌƐŚŝƉ&ĞĞ;ƉĞƌLJĞĂƌͿΨϬ͘ϬϬΨϬ͘ϬϬ ^ŚŝƉƉŝŶŐΘ,ĂŶĚůŝŶŐͲŽƌĚĞƌĨŽƌƌĞƋƵĞƐƚŽĨƉŚŽŶĞŽƌĚĞƌƚŝĐŬĞƚƐŵĂŝůĞĚƚŽŶŽŶͲ ŵĞŵďĞƌĐƵƐƚŽŵĞƌƐΨϮ͘ϬϬΨϮ͘ϬϬ ƋƵŝƉŵĞŶƚZĞŶƚĂů ĂƐƐƌƵŵΨϰϬ͘ϬϬΨϰϬ͘ϬϬ ĞůůƐΨϰϬ͘ϬϬΨϰϬ͘ϬϬ ŚŝŵĞƐΨϰϬ͘ϬϬΨϰϬ͘ϬϬ 'ŽŶŐ;ƐŵĂůůͿΨϰϬ͘ϬϬΨϰϬ͘ϬϬ 'ŽŶŐ;ůĂƌŐĞͿΨϳϬ͘ϬϬΨϳϬ͘ϬϬ dŝŵƉĂŶŝΨϰϬ͘ϬϬΨϰϬ͘ϬϬ yLJůŽƉŚŽŶĞΨϰϬ͘ϬϬΨϰϬ͘ϬϬ ƌƵŵŬŝƚǁͬĐLJŵďĂůƐĞƚΨϭϯϱ͘ϬϬΨϭϯϱ͘ϬϬ ZŽůĂŶĚZϲϬϬ<ĞLJďŽĂƌĚΨϭϮϬ͘ϬϬΨϭϮϬ͘ϬϬ WĞĂǀĞLJ<ͬϯϬϬΨϲϬ͘ϬϬΨϲϬ͘ϬϬ DƵƐŝĐ^ƚĂŶĚƐ;ƐĞƚͬĚĂLJͿΨϳϱ͘ϬϬΨϳϱ͘ϬϬ DƵƐŝĐ^ƚĂŶĚƐ;ƉĞƌƐƚĂŶĚͬĚĂLJͿΨϯ͘ϬϬΨϯ͘ϬϬ ^ŚĞĞƚDƵƐŝĐͬ^ĐŽƌĞƐ DŝŶŝŵƵŵΨϮϱ͘ϬϬΨϮϱ͘ϬϬ ZĞŶƚĂůͲWĞƌĐĞŶƚŽĨŵĂƌŬĞƚƌĂƚĞĐŚĂƌŐĞĚďLJŽƚŚĞƌƌĞŶƚĂůŚŽƵƐĞƐĨŽƌƚŚĞ ƐĂŵĞŵƵƐŝĐϵϬйϵϬй ZĞŶƚĂůͲWĞƌĐĞŶƚŽĨƉƵƌĐŚĂƐĞƉƌŝĐĞϱϬйϱϬй dŝĐŬĞƚ^ĂůĞƐ ŝƐĐŽƵŶƚƐĨŽƌƚŝĐŬĞƚƐ;ƉĞƌƚŝĐŬĞƚͿ 'ƌŽƵƉ^ĂůĞƐdŝĐŬĞƚŝƐĐŽƵŶƚƐĂƌĞďĂƐĞĚƵƉŽŶŶƵŵďĞƌŽĨƚŝĐŬĞƚƐ ƉƵƌĐŚĂƐĞĚ͗ϭϬͲϮϰƚŝĐŬĞƚƐƉƵƌĐŚĂƐĞĚϭϬйϭϬй 'ƌŽƵƉ^ĂůĞƐdŝĐŬĞƚŝƐĐŽƵŶƚƐĂƌĞďĂƐĞĚƵƉŽŶŶƵŵďĞƌŽĨƚŝĐŬĞƚƐ ƉƵƌĐŚĂƐĞĚ͗ϮϱнƚŝĐŬĞƚƐƉƵƌĐŚĂƐĞĚϭϬйϭϬй DĞƌĐŚĂŶĚŝƐĞ^ĂůĞƐͲ&ůĂƚĨĞĞƚŽĂƌƚŝƐƚŽĨϭϬйŽĨƚŚĞŐƌŽƐƐƌĞĐĞŝƉƚƐŽǀĞƌΨϭϬϬ ĨƌŽŵƚŚĞƐĂůĞŽĨĂŶLJƐƵĐŚƉƌŽĚƵĐƚƐƐŽůĚďLJŝƚLJ^ƚĂĨĨ ϭϬйϭϬй WƌŽŐƌĂŵ&ĞĞƐ ^ŽƵŶĚ^ĐŚŽŽůKƵƚƌĞĂĐŚ /^ϱϯϱΨϬ͘ϬϬΨϬ͘ϬϬ ŽŶĐĞƐƐŝŽŶ&ĞĞƐ;&ĞĞĨŽƌ&ŽŽĚdƌƵĐŬǀĞŶĚŽƌƚŽŽƉĞƌĂƚĞĂƚĂĨŽƌtZĐŽŶĐĞƌƚͿΨϱϬ͘ϬϬΨϱϬ͘ϬϬ ŽŶĐĞƐƐŝŽŶ&ĞĞƐ;&ĞĞĨŽƌ&ŽŽĚdƌƵĐŬǀĞŶĚŽƌƚŽŽƉĞƌĂƚĞĂƚƚŚĞϰƚŚ&ĞƐƚĐŽŶĐĞƌƚͿΨϭϱϬ͘ϬϬΨϭϱϬ͘ϬϬ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rial]]%DFNJURXQG [[586,1400,599,1453][11][,I,][Arial]] [[596,1400,716,1453][11][,I,][Arial]]PXVLF [[715,1400,728,1453][11][,I,][Arial]] [[726,1400,862,1452][11][,,][A rial]]PHDQV [[863,1400,876,1452][11][,,][Arial]] [[875,1400,1050,1452][11][,,][Arial]]VXEGXHG [[1050,1400,1063,1452][11][,,][Arial]] [[1061,1400,1137,1452][11][,,][Arial]]DQG [[1137,1400,1150,1452] [11][,,][Arial]] [[1149,1400,1383,1452][11][,,][Arial]]XQREWUXVLYH [[1384,1400,1397,1452][11][,,][Arial]] [[1395,1400,1514,1452][11][,,][Arial]]PXVLF [[1515,1400,1528,1452][11][,,][Arial]] [[1527,1400,1670,1452][11][,,][Arial]]SOD\HG [[1670,1400,1683,1452][11][,,][Arial]] 1RORXGHUWKDQGHFLEHOVRUWKHDPELHQWVWUHHWOHYHOQRLVHDQG $VDQDFFRPSDQLPHQWWRRUIRUWKHSXUSRVHRIFUHDWLQJDSOHDVDQWDWPRVSKHUHIRUDQ DFWLYLW\RUDSXEOLFSODFH [[342,1696,511,1749][11][,I,][Arial]]&DUQLYDO [[509,1696,522,1749][11][,I,][Arial]] [[526,1696,2245,1748][11][,,][Arial]]PHDQVDWUDYHOLQJHQWHUSULVHRIIHULQJDPXVHPHQWVVXFKDVULGHVJDPHVRIFKDQ FH [[2246,1696,2259,1748][11][,,][Arial]] DQGVLGHVKRZV [[342,1827,471,1880][11][,I,][Arial]]&LUFXV [[471,1827,484,1880][11][,I,][Arial]] [[482,1827,619,1879][11][,,][Arial]]PHDQV [[619,1827,632,1879][11][,,][Arial]] [[630,1827,656,1879][11][,,][Arial]] D [[655,1827,668,1879][11][,,][Arial]] [[665,1827,877,1879][11][,,][Arial]]SURGXFWLRQ [[878,1827,891,1879][11][,,][Arial]] [[888,1827,929,1879][11][,,][Arial]]RU [[928,1827,941,1879][11][,,][Arial] ] [[939,1827,1073,1879][11][,,][Arial]]YDULHW\ [[1073,1827,1086,1879][11][,,][Arial]] [[1083,1827,1106,1879][11][,,][Arial]]V [[1106,1827,1190,1879][11][,,][Arial]]KRZ [[1189,1827,1202,1879][11][,, ][Arial]] [[1199,1827,1410,1879][11][,,][Arial]]FRQGXFWHG [[1410,1827,1423,1879][11][,,][Arial]] [[1421,1827,1456,1879][11][,,][Arial]]LQ [[1456,1827,1469,1879][11][,,][Arial]] [[1466,1827,1516,18 79][11][,,][Arial]]DQ [[1516,1827,1529,1879][11][,,][Arial]] [[1527,1827,1644,1879][11][,,][Arial]]DUHQD [[1643,1827,1656,1879][11][,,][Arial]] [[1654,1827,1695,1879][11][,,][Arial]]RU [[1694,1827,1707,1879][11][,,][Arial]] [[1704,1827,1821,1879][11][,,][Arial]]XQGHU [[1821,1827,1834,1879][11][,,][Arial]] [[1831,1827,1857,1879][11][,,][Arial]]D [[1856,1827,1869,1879][11][,,][Ari al]] [[1867,1827,1944,1879][11][,,][Arial]]WHQW [[1943,1827,1956,1879][11][,,][Arial]] [[1952,1827,2069,1879][11][,,][Arial]]ZKLFK [[2069,1827,2082,1879][11][,,][Arial]] [[2079,1827,2245,1879][11] [,,][Arial]]LQFOXGHV [[2247,1827,2260,1879][11][,,][Arial]] IHDWVRISK\VLFDOVNLOODQGGDULQJZLOGDQLPDODFWVDQGRUSHUIRUPDQFHVE\MXJJOHUVDQGFORZQV [[342,1956,448,2009][11][,I,][Arial]]5DFH [[449,1956,462,2009][11][,I,][Arial]] [[481,1956,2245,2008][11][,,][Arial]]PHDQVDQ\RUJDQL]HGELF\FOHUDFHIRRWUDFHUDFHZDONLQJZKHHOFKDLUUDFLQJ [[2246,1956,2259,2008][11][,,][Arial]] UROOHUEODGLQJPDUDWKRQMRJJLQJHYHQWDQGVLPLODUHYHQWV [[342,2086,489,2139][11][,I,][Arial]]3DUDGH [[489,2086,502,2139][11][,I,][Arial]] [[503,2086,1817,2138][11][,,][Arial]]PHDQVDQ\SDUDGHPDUFKFHUHPRQ\VKRZH[KLELWLRQSDJHDQW [[1819,2086,1832,2138][11][,,][Arial]] [[1832,2086,2246,2138][11][,,][Arial]]RUSURFHVVLRQRIDQ\ [[2246,2086,2259,2138][11][,,][Arial]] NLQGRUDQ\VLPLODUGLVSOD\LQRUXSRQDQ\VWUHHWSDUNRURWKHUSXEOLFSODFHLQWKHFLW\ [[342,2216,634,2269][11][,I,][Arial]]6RXQGGHYLFH [[639,2216,911,2269][11][,I,][Arial]]RUDSSDUDWXV [[915,2216,2246,2268][11][,,][Arial]]PHDQVDQ\UDGLRGHYLFHRUDSSDUDWXVIRUWKHDPSOLILFDWLRQRI DQ\ [[2247,2216,2260,2268][11][,,][Arial]] VRXQGVIURPDQ\UDGLRSKRQRJUDSKRURWKHUVRXQGPDNLQJRUVRXQGSURGXFLQJGHYLFHRUDQ\ GHYLFHRUDSSDUDWXVIRUWKHUHSURGXFWLRQRUDPSOLILFDWLRQRIWKHKXPDQYRLFHRURWKHUVRXQGV [[342,2398,494,2451][11][,I,][Arial]]6SHFLDO [[491,2398,504,2451][11][,I,][Arial]] [[503,2398,625,2451][11][,I,][Arial]]HYHQW [[625,2398,638,2451][11][,I,][Arial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Ϯ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ϯ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rial]]0LQLPXPOLPLWV [[731,308,2247,360][11][,,][Arial]],QVXUDQFHFRYHUDJHPXVWEHDFRPPHUFLDOJHQHUDOOLDELOLW\SROLF\7KH [[2247,308,2260,360][11][,,][Arial]] PLQLPXPOLPLWVPXVWEHDWOHDVWIRULQMXU\RUGDPDJHWRDQ\SHUVRQRUSURSHUW\ DQGQRWOHVVWKDQLQWKHDJJUHJDWHDPRXQWIRUDQ\QXPEHURIFODLPVDULVLQJ RXWRIDVLQJOHRFFXUUHQFH,IDOFRKROLFEHYHUDJHVDUHWREHVROGRUGLVWULEXWHGDWWKHVSHFLDO HYHQWWKHSROLF\PXVWDOVRLQFOXGHDQHQGRUVHPHQWIRUOLTXRUOLDELOLW\7KHFLW\PD\UHTXLUH DGGLWLRQDOHQGRUVHPHQWVGHSHQGLQJXSRQWKHW\SHRIVSHFLDOHYHQWDQGWKHSURSRVHG DFWLYLWLHV [[454,760,509,813][11][,I,][Arial]] E [[510,760,523,813][11][,I,][Arial]] [[558,760,1326,813][11][,I,][Arial]]:DLYHURUUHGXFWLRQRIUHTXLUHGOLPLWV [[1326,760,2206,812][11][,,][Arial]]7KHFLW\PD\ZDLYHRUUHGXFHWKHLQVXUDQFH [[2207,760,2220,812][11][,,][Arial]] UHTXLUHPHQWVRIWKLVVHFWLRQXQGHUWKHIROORZLQJFLUFXPVWDQFHV[[1650,817,1663,870][11][,I,][Arial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¶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ϴ