'DSKQH%UDPKDP)RRWEDOOOHDJXHOHDGVWKHZD\LQILJKWLQJYLROHQFHDJDLQVWZRPHQ +RPHV 1HZ+RPH'HYHORSPHQWV $W+RPH :HVWFRDVW+RPHVZLWK$UUDQ+HQQ 2XW2I7RZQ3URSHUWLHV %RXJKW6ROG :HVWFRDVW+RPHV'HVLJQ0DJD]LQH 'HFRUDWLQJ5HQRYDWLQJ 0LNH+ROPHV ¬ &ODVVLILHGV $QQRXQFHPHQWV 2ELWXDULHV -RE/LVWLQJV &DU/LVWLQJV 5HDO(VWDWH)RU6DOH5HQW 6KRSSLQJ 3ODFHDQ$G )O\HU&LW\ ¬ ¬ 'RQ WPLVV :DWHU6HULHV 9LGHR :LQHJURZHUV %DE\QDPHV $IIRUGDELOLW\ $XWR 6XQ5XQ 'LYHUVLW\6HULHV &RQYHUVDWLRQV7KDW0DWWHU ¬ ª ¬ ¬ ¬ ¬ 'DSKQH%UDPKDP)RRWEDOOOHDJXHOHDGVWKHZD\LQILJKWLQJYLROHQFH DJDLQVWZRPHQ ¬ &)/LVXQLTXHDPRQJ&DQDGLDQSURIHVVLRQDOVSRUWVRUJDQL]DWLRQV ¬ %\'DSKQH%UDPKDP9DQFRXYHU6XQ1RYHPEHU ¬ /RJ,Q 7ZHHW &RPPHQW ¬ 6WRU\ 3KRWRV ¬ KWWSZZZYDQFRXYHUVXQFRPVSRUWVGDSKQHEUDPKDPIRRWEDOOOHDJXHOHDGVILJKWLQJYLROHQFHDJDLQVWZRPHQVWRU\KWPO 'DSKQH%UDPKDP)RRWEDOOOHDJXHOHDGVWKHZD\LQILJKWLQJYLROHQFHDJDLQVWZRPHQ ¬ %&/LRQV*0:DOO\%XRQRKDVVSRNHQRXWIRU\HDUVDERXWWKHQHHGWRHQGYLROHQFHDJDLQVWZRPHQ 3KRWRJUDSKE\*HUU\.DKUPDQQ31* 7KHUH·VRQHILQDOJDPHEHIRUHWKH&DQDGLDQ)RRWEDOO/HDJXH·VVHDVRQLVRYHUDQGPRUHQDPHVDUHLQVFULEHGRQWKH*UH\&XS 1RQHRIWKRVHZLOOEH%&/LRQV2XUWHDP·V\HDUPLJKWEHVWEHGHVFULEHGDVZRUVHWKDQVRPHDQGEHWWHUWKDQRWKHUV %XWRIIWKHILHOGERWKWKHOHDJXHDQG/LRQVPDQDJHPHQWDQGSOD\HUVFDQWDNHFUHGLWIRUVRPHWKLQJRIPRUHODVWLQJYDOXHWKDQD*UH\&XSFKDPSLRQVKLS 7KLVVHDVRQWKH\IRUPHGDQDOOLDQFHZLWKZRPHQWRILJKWJHQGHUYLROHQFH7KH&)/LVWKHILUVWSURIHVVLRQDOVSRUWVOHDJXHDQGWKHRQO\PDOHOHG RUJDQL]DWLRQLQ&DQDGDWRLQVWLWXWHDFRPSUHKHQVLYHSROLF\DLPHGDWHQGLQJYLROHQFHDJDLQVWZRPHQ ,W·VUHPDUNDEOHEHFDXVHDVZH·YHOHDUQHGWKLVZHHNPDQ\LQVWLWXWLRQVQRUPDOO\FRQVLGHUHGPRUHSURJUHVVLYHWKDQDIRRWEDOOOHDJXHGRQ·WKDYHDQ\WKLQJ OLNHLW 7KH8QLYHUVLW\RI%&IRUH[DPSOHWRRNQHDUO\WZR\HDUVWRGHDOZLWKVH[XDODVVDXOWFRPSODLQWVPDGHE\VL[ZRPHQDJDLQVWDJUDGXDWHVWXGHQW$IWHU WKHVWRU\ZDVPDGHSXEOLFWKHXQLYHUVLW\SURPLVHGWRIRUPDOO\UHYLHZKRZLWUHVSRQGVWRDOOHJDWLRQVRIDEXVHDQGVH[XDODVVDXOW 7KDWSURPSWHG$GYDQFHG(GXFDWLRQ0LQLVWHU$QGUHZ:LONLQVRQWRDVNPLQLVWU\VWDIIWRKHOSGHYHORSDVLQJOHSROLF\RQVH[XDOYLROHQFHIRUDOORI%&·V FROOHJHVDQGXQLYHUVLWLHV <HWZKHQWKH&)/RXWOLQHGLWVSROLF\PRVWPHGLDJDYHLWOLWWOHRUQRQRWLFHHYHQWKRXJKSURIHVVLRQDODWKOHWHV·DVVDXOWVRIJLUOIULHQGVDQGZLYHVKDYH EHFRPHDQDOPRVWURXWLQHSDUWRIVSRUWVUHSRUWLQJ ,W·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·VLQLWLDWLYH$QGLQKHUWKUHHGHFDGHVRIZRUNLQJWRHQG YLROHQFHDJDLQVWZRPHQVKHVD\VVKHKDVQHYHUPHWDJURXSRIPHQVRZLOOLQJWRKHOS 6L[\HDUVDJRVKHZDVDWZLW·VHQG'HVSLWHDOORIKHUZRUNDQGWKDWRIGR]HQVLIQRWKXQGUHGVRIRWKHUZRPHQ·VJURXSVDFURVV&DQDGDVH[XDOYLROHQFH ZDVDQGLVVWLOOULVLQJHYHQWKRXJKHYHU\RWKHUYLROHQWFULPHLQ&DQDGDZDVDQGLVGHFUHDVLQJ 6KHGHFLGHGWKHRQO\ZD\WRFKDQJHWKDWZDVWRHQOLVWPHQDQGZKREHWWHUWRGHOLYHUWKHPHVVDJHWKDQIRRWEDOOSOD\HUV³ELJEUDZQ\JX\VZKRDUHWKH HSLWRPHRIPDVFXOLQLW\ $VH[HFXWLYHGLUHFWRURI(9$%&3RUWHRXVZHQWWRWKH%&/LRQVQRWH[SHFWLQJWKDWWKH\ZRXOGDJUHH%XWWKH\GLGDQGLQ-XO\WKH\ODXQFKHGWKH ´%H0RUH7KDQD%\VWDQGHUµFDPSDLJQ :DOO\%XRQRZDVWKHWHDP·VFRDFKDWWKHWLPH+HLVQRZYLFHSUHVLGHQWDQGJHQHUDOPDQDJHU ´9LROHQFHDJDLQVWZRPHQLVQRWMXVWDZRPHQ·VLVVXHEHFDXVHPHQFRPPLWWKHYDVWPDMRULW\RIYLROHQFHDJDLQVWZRPHQLQVRFLHW\,W·VDOVRDPHQ·VLVVXH DQGPHQQHHGWRJHWLQYROYHGµ%XRQRVDLGDWWKHWLPH KWWSZZZYDQFRXYHUVXQFRPVSRUWVGDSKQHEUDPKDPIRRWEDOOOHDJXHOHDGVILJKWLQJYLROHQFHDJDLQVWZRPHQVWRU\KWPO 'DSKQH%UDPKDP)RRWEDOOOHDJXHOHDGVWKHZD\LQILJKWLQJYLROHQFHDJDLQVWZRPHQ 7KHQKHZLSHGDZD\DWHDUDVKHUHFRXQWHGKRZDVDFKLOGVRPHWKLQJKDGKDSSHQHGLQKLVRZQKRPH´)RUWXQDWHO\,ZDVROGHQRXJKWKDW,FRXOGGHDO ZLWKLWRQP\PRWKHU·VEHKDOIµ 6LQFHWKH/LRQVDQGWKHLUVSRNHVPHQ³ZKRLQFOXGHTXDUWHUEDFN7UDYLV/XOD\UHFHLYHU6KDZQ*RUHDQGEXUO\OLQHPHQ$GDP%LJKLOO5ROO\ /XPEDODDQG7'UH3OD\HU³KDYHVSRNHQWRPRUHWKDQFKLOGUHQ ´7KH\NLQGRIPDNHPHZDQWWRFU\ZKHQ,KHDUWKHPVSHDNWRNLGVµVD\V3RUWHRXV´7KH\VD\WKDWNLGVDUHKXQJU\IRULQIRUPDWLRQDQGWKDWVH[XDO DVVDXOWDQGYLROHQFHDUHDOLYHLQWKHOLYHVRIFKLOGUHQDQGWKDWNLGVZDQWWRWDONDERXWLWµ 7KH\KDYHDOVRUHFRUGHGSXEOLFVHUYLFHDQQRXQFHPHQWVLQFOXGLQJRQHLQZKLFK3OD\HUDPHPEHURI0DQLWRED·V6DJNHHQJ)LUVW1DWLRQWDONVDERXW &DQDGD·VPXUGHUHGDQGPLVVLQJZRPHQ ,WZRXOGEHDVWUHWFKWRVD\WKDWWKH/LRQV·FDPSDLJQRUWKH&)/·VDQWLYLROHQFHSROLF\ZKLFKZDVVSDUNHGE\LWDUHVROHO\DFWVRIDOWUXLVP 7KH&)/VHHPVWRSHUHQQLDOO\VWUXJJOHWRDWWUDFWVSHFWDWRUVDQGWRKDYHDOORILWVWHDPVILQDQFLDOO\YLDEOH3URIHVVLRQDOVRFFHULVFXWWLQJLQWRIRRWEDOO·V SRSXODULW\LQPDUNHWVOLNH9DQFRXYHUZKLOHKHDGLQMXULHVKDYHJLYHQVRPHSHRSOHSDXVHDERXWVXSSRUWLQJFRQWDFWVSRUWV %XWWKHUH·VVRPHWKLQJHOVH7KH&)/KDGDUHSXWDWLRQDVDSOD\LQJILHOGRIODVWUHVRUWIRU$PHULFDQVWRVVHGRXWRIWKH1DWLRQDO)RRWEDOO/HDJXHDIWHU VH[XDORUSK\VLFDODVVDXOWDOOHJDWLRQVDQGGUXJRIIHQFHV ,QIRXU&)/SOD\HUV³WZRLQ0RQWUHDODQGRQHHDFKLQ&DOJDU\DQG(GPRQWRQ³ZHUHUHFUXLWHGDIWHUKDYLQJEHHQUHOHDVHGE\1)/WHDPV IROORZLQJHLWKHUDUUHVWVRUFRQYLFWLRQVUHODWHGWRDEXVLQJZRPHQ $QGWKHUHZHUHVRPHKLJKSURILOHKRPHJURZQLQFLGHQWV ,QWKH6DVNDWFKHZDQ5RXJKULGHUV·JHQHUDOPDQDJHUDQGIRUPHU/LRQV·*0(ULF7LOOPDQSOHDGHGJXLOW\WRWKHVXPPDU\VH[XDODVVDXOWRIKLV FKLOGUHQ·V\HDUROGEDE\VLWWHU 7LOOPDQZDVJLYHQDQDEVROXWHGLVFKDUJHDQGUHVLJQHGIURPWKH5LGHUVEXWZDVTXLFNO\VQDSSHGXSE\WKH+DPLOWRQ7LJHU&DWVZKHUHKHLVQRZGLUHFWRU RI86VFRXWLQJ ,Q6XUUH\UDLVHG-RVK%RGHQZDVUHOHDVHGE\WKH/LRQVDIWHUKHZDVFKDUJHGZLWKGRPHVWLFDVVDXOWDQGUREEHU\7KRVHFKDUJHVZHUHGURSSHGEXWKH ZDVVXEVHTXHQWO\FRQYLFWHGRQRWKHUVH[XDODVVDXOWFKDUJHVDQGZDVDSHUVRQRILQWHUHVWLQDZRPDQ·VPXUGHU 5HJDUGOHVVRILWVPRWLYDWLRQVWKH&)/LVGRLQJVRPHWKLQJDERXWJHQGHUHGYLROHQFH,WXQOLNHWRRPDQ\RUJDQL]DWLRQVERWKSXEOLFDQGSULYDWHKDV UHFRJQL]HGZKDW/LRQV*0:DOO\%XRQROHDUQHGDVDFKLOG9LROHQFHDJDLQVWZRPHQKXUWVDOORIXV GEUDPKDP#YDQFRXYHUVXQFRP 7ZLWWHU#GDSKQHEUDPKDP ‹&RS\ULJKWF7KH9DQFRXYHU6XQ ¬ ¬ ¬ (PDLOWKLV$UWLFOH 3ULQWWKLV$UWLFOH 6KDUHWKLV$UWLFOH ¬ ¬ ¬ ¬ 0RUHRQ7KLV6WRU\ ¬ 8%&LQGDPDJHFRQWUROPRGHDIWHUIDLOLQJVH[XDODVVDXOWFRPSODLQDQWVDOXPQL 8%&UHVSRQVHPDNHV PRFNHU\ RIJUDYLW\RIVH[XDODVVDXOWZRPHQ VJURXS 8%&VWXGHQWVVD\UHSRUWLQJVH[DVVDXOWZRUVHWKDQWKHDWWDFNLWVHOI 8%&WRRNPDQ\PRQWKVWRGHDOZLWKVH[XDODWWDFNHU&%& 'DSKQH%UDPKDP&RXUWVHQGVPHVVDJHWRSLPSVDVZHOODVSXUFKDVHUV 'DSKQH%UDPKDP6RPHWKLQJ·VZURQJDW8%&DQGLW·VQRERG\·VIDXOW ¬ 6WRU\7RROV ¬ (PDLOWKLV$UWLFOH 3ULQWWKLV$UWLFOH KWWSZZZYDQFRXYHUVXQFRPVSRUWVGDSKQHEUDPKDPIRRWEDOOOHDJXHOHDGVILJKWLQJYLROHQFHDJDLQVWZRPHQVWRU\KWPO
© Copyright 2026 Paperzz