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EĂƚŝŽŶĂů dŚĞ^ĂůǀĂƚŝŽŶƌŵLJĂŶĂĚĂΘĞĞƌŵƵĚĂdĞƌƌŝƚŽƌLJ ,ĂůŝĨĂdžZĞŐŝŽŶĂů&ŝƌĞĂŶĚŵĞƌŐĞĞŶĐLJ <ŶĞĞŚŝůůZĞŐŝŽŶĂůŵĞƌŐĞŶĐLJ^ĞƌƌǀŝĐĞƐ tŝŶŶŝƉĞŐ&ŝƌĞWĂƌĂŵĞĚŝĐ^ĞƌǀŝĐĞĞ ĂŶĂĚĂŽƌĚĞƌ^ĞƌǀŝĐĞƐŐĞŶĐLJ ,ĂůƚŽŶZĞŐŝŽŶD^ /ŶƚĞƌͲKƉĂŶĂĚĂ ĞůŝƐůĞĂŶĚŝƐƚƌŝĐƚ&ŝƌĞĞƉĂƌƚŵ ŵĞŶƚ ŵďƵůĂŶĐĞ^ĞƌǀŝĐĞ ŵďƵůĂŶĐĞ^ĞƌǀŝĐĞ ƌŝƚŝƐŚŽůƵŵďŝĂŵďƵůĂŶĐĞ^ĞƌǀǀŝĐĞ ZŽLJĂůĂŶĂĚŝĂŶDŽƵŶƚĞĚWŽůŝĐĞ důůŝĂŶĐĞ ^ ŵďƵůĂŶĐĞ dŽƌŽŶƚŽD^ ƌŝƚŝƐŚŽůƵŵďŝĂŵďƵůĂŶĐĞ^ĞƌǀǀŝĐĞ ^ ŵďƵůĂŶĐĞ^ĞƌǀŝĐĞ KƌŐĂŶŝnjĂƚŝŽŶ ĚŵŝŶŝƐƚƌĂƚŝŽŶKĨĨŝĐĐĞƌ ŵĞƌŐĞŶĐLJŝƐĂƐƚĞƌƌ^ĞƌǀŝĐĞƐŝƌĞĐƚŽƌ ŽŵŵƵŶŝĐĂƚŝŽŶƐdĞĞĐŚŶŝĐŝĂŶ ŝƌĞĐƚŽƌŽĨŵĞƌŐĞŶ ŶĐLJDĂŶĂŐĞŵĞŶƚ ƐƐŝƐƚĂŶƚŚŝĞĨKƉĞƌƌĂƚŝŽŶƐ ^ĞŶŝŽƌZĂĚŝŽŶŐŝŶĞĞĞƌ ŚŝĞĨ WƌĞƐŝĚĞŶƚ ĂƉƚĂŝŶ ^ƵƉĞƌŝŶƚĞŶĚĞŶƚ WĂƌĂŵĞĚŝĐ ^ƵƉĞƌŝŶƚĞŶĚĞŶƚ dĞůĞĐŽŵŵƵŶŝĐĂƚŝŽŶ ŶƐKƉĞƌĂƚŽƌ K ƉĂƌĂŵĞĚŝĐ WĂƌĂŵĞĚŝĐŚŝĞĨ ŽŵŵĂŶĚĞƌ ^ƵƉĞƌǀŝƐŽƌ WW ^ƌdĞůĞĐŽŵdĞĐŚŶŽůŽ ŽŐŝƐƚ dŝƚůĞ $± $16:(5,1*7+(&$//_&DQDGLDQ$GYDQFHG7HFKQRORJ\$OOLDQFH >ĂƐƚ &ŝƌƐƚ ^ƉĂƌŬƐ ^ƚ͘>ĂƵƌĞŶƚ ^ƚĞĂĚ ^ƚĞƉŚĞŶ ^ƚͲ:ĞĂŶ ^ƚƌƵƚŚ͕W͘ŶŐ͘ ^ƵůůŝǀĂŶ ^ǁĂŶƐŽŶ ^njĂƉŝƌĂ dĞƚƵ dŚĞƌƌŝĞŶ dŚŽƌŶĞ dŽůƉƉĂŶĞŶ dŽŵĂŶ dŽǁůĞ dŽnjĞƌ dƌĂŚĂŶ dƌĞƚŚĞǁĞLJ dƵůĞƚƚ dƵƌŐĞŽŶ dƵƌŶĞƌ dǁĞůůƐ dLJůĞƌ ǀĂŶĚĞƌ<ǁĂƐƚ 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ŐŽǀĞƌŶĂŶĐĞŽĨĚĞĚŝĐĂƚĞĚϳϬϬD,njƐƉĞĐƚƌƵŵĨŽƌƉƵďůŝĐƐĂĨĞƚLJ͘ /ďĞůŝĞǀĞƚŚĂƚƚŚĞŝƐƐƵĞŽĨĚĞĚŝĐĂƚĞĚϳϬϬD,njƐƉĞĐƚƌƵŵĨŽƌƉƵďůŝĐ ƐĂĨĞƚLJŝƐĂƉƌŝŽƌŝƚLJĐŽŶĐĞƌŶƚŚĂƚŝĨůĞĨƚƵŶĂĚĚƌĞƐƐĞĚĐŽƵůĚĂĚǀĞƌƐĞůLJ ŝŵƉĂĐƚŽŶƚŚĞƐĂĨĞƚLJŽĨĂůůĂŶĂĚŝĂŶƐ͘ DLJŽƌŐĂŶŝnjĂƚŝŽŶŚĂƐƌĞĐŽŐŶŝnjĞĚƚŚŝƐŝƐƐƵĞŽĨĨƉƌŽǀŝĚŝŶŐĚĞĚŝĐĂƚĞĚϳϬϬ D,njƐƉĞĐƚƌƵŵĂůůŽĐĂƚŝŽŶĨŽƌƉƵďůŝĐƐĂĨĞƚLJĂƐƐĂƐƚƌĂƚĞŐŝĐƉƌŝŽƌŝƚLJ͘ ĂŶĂĚĂŵƵƐƚĂůŝŐŶŝƚƐϳϬϬD,njƐƉĞĐƚƌƵŵĂůůŽ ŽĐĂƚŝŽŶĨŽƌƉƵďůŝĐƐĂĨĞƚLJ ǁŝƚŚh͘^͘ŝŶŝƚŝĂƚŝǀĞƐ͘ ƌĞĂƚŝŽŶŽĨĂĐƌŽƐƐͲĂŶĂĚĂǁŝƌĞůĞƐƐďƌŽĂĚďĂĂŶĚŝŶƚĞƌŽƉĞƌĂďůĞŶĞƚǁŽƌŬ ĐĂŶŚĂǀĞĂƐŝŐŶŝĨŝĐĂŶƚĂŶĚŝŵŵĞĚŝĂƚĞŝŵƉĂĐƚƚŽŶƉƵďůŝĐƐĂĨĞƚLJŝŶ ĂŶĂĚĂ͘ /ďĞůŝĞǀĞƚŚĂƚWƵďůŝĐ^ĂĨĞƚLJĂŐĞŶĐŝĞƐ͛ĨƵƚƵƌĞǁ ǁŝƌĞůĞƐƐďƌŽĂĚďĂŶĚ ƚĞĐŚŶŝĐĂůĂŶĚŽƉĞƌĂƚŝŽŶĂůƌĞƋƵŝƌĞŵĞŶƚƐĐĂŶďĞďĞƐƚŵĞƚďLJĐŽŵŵĞƌĐŝĂů ƉƌŽǀŝĚĞƌƐ͘ YϱͶWůĞĂƐĞƌĂƚĞƚŚĞĨŽůůŽǁŝŶŐƐƚĂƚĞŵĞŶƚƐ͘;ůůŽƚŚĞĞƌƐĞdžĐůƵĚŝŶŐŵĞƌŐĞŶĐLJZĞƐƉŽŶĚĞƌƐͿ ^ƚƌŽŶŐůLJ ŐƌĞĞ η й /ďĞůŝĞǀĞƚŚĂƚĐƵƌƌĞŶƚůLJ͕WƵďůŝĐ^ĂĨĞƚLJĂŐĞŶĐŝĞĞƐ͛ǁŝƌĞůĞƐƐďƌŽĂĚďĂŶĚ ϭ ϭй ĐĂƉĂďŝůŝƚŝĞƐĂƌĞƐƵĨĨŝĐŝĞŶƚĨŽƌƚŚĞŝƌŶĞĞĚƐ͘ %± $16:(5,1*7+(&$//_&DQDGLDQ$GYDQFHG7HFKQRORJ\$OOLDQFH ŽƌŬ͍ YϳͶtŚŽƐŚŽƵůĚďĞƌĞƐƉŽŶƐŝďůĞĨŽƌĨƵŶĚŝŶŐƚŚĞŝŶŝƚŝĂůĞdžƉĞŶƐĞŽĨĂĐƌŽƐƐͲĂŶĂĚĂǁŝƌĞůĞƐƐďƌŽĂĚďĂŶĚŝŶƚĞƌŽƉĞƌĂďůĞŶĞƚǁŽ ŚŽŝĐĞƐ ŽƵŶƚ WĞƌĐĞŶƚ &ĞĚĞƌĂů'ŽǀĞƌŶŵĞŶƚ Ϯϭϰ ϲϰй WƌŽǀŝŶĐŝĂůͬdĞƌƌŝƚŽƌŝĂů'ŽǀĞƌŶŵĞŶƚ ϮϬ ϲй DƵŶŝĐŝƉĂůͬZĞŐŝŽŶĂů'ŽǀĞƌŶŵĞŶƚ Ϯ ϭй ZĞƐƉŽŶĚĞƌŐĞŶĐŝĞƐ ϲ Ϯй /ŶĚƵƐƚƌLJ ϰ ϭй WĂƌƚŶĞƌƐŚŝƉƐ ϵϬ Ϯϳй YϴͶtŚŽƐŚŽƵůĚďĞƌĞƐƉŽŶƐŝďůĞĨŽƌŽƉĞƌĂƚŝŶŐĂĐƌŽƐƐͲĂŶĂĚĂǁŝƌĞůĞƐƐďƌŽĂĚďĂŶĚŝŶƚĞƌŽƉĞƌĂďůĞŶĞƚǁŽƌŬ͍ ŚŽŝĐĞƐ ŽƵŶƚ WĞƌĐĞŶƚ &ĞĚĞƌĂů'ŽǀĞƌŶŵĞŶƚ ϭϭϳ ϯϱй WƌŽǀŝŶĐŝĂůͬdĞƌƌŝƚŽƌŝĂů'ŽǀĞƌŶŵĞŶƚ ϲϵ Ϯϭй DƵŶŝĐŝƉĂůͬZĞŐŝŽŶĂů'ŽǀĞƌŶŵĞŶƚ ϭϯ ϰй ZĞƐƉŽŶĚĞƌŐĞŶĐŝĞƐ ϯϱ ϭϬй /ŶĚƵƐƚƌLJ ϭϬ ϯй WĂƌƚŶĞƌƐŚŝƉƐ ϵϮ Ϯϳй ƵĐĐĞƐƐĨƵůůLJĚĞƉůŽLJǁŝƌĞůĞƐƐ YϵͶ/ĨϳϬϬD,njƐƉĞĐƚƌƵŵŝƐĚĞĚŝĐĂƚĞĚƚŽƉƵďůŝĐƐĂĨĨĞƚLJ͕ǁŚĂƚŝƐĂƌĞĂƐŽŶĂďůĞƚŝŵĞĨƌĂŵĞŝŶǁŚŝĐŚLJŽƵƌŽƌŐĂŶŝnjĂƚŝŽŶĐŽƵůĚƐƵ ďƌŽĂĚďĂŶĚƐŽůƵƚŝŽŶƐ͍ ŚŽŝĐĞƐ ŽƵŶƚ WĞƌĐĞŶƚ /ŵŵĞĚŝĂƚĞůLJ ϯϬ ϵй tŝƚŚŝŶϮLJĞĂƌƐ ϭϭϱ ϯϰй &ƌŽŵϮƚŽϱLJĞĂƌƐ ϭϬϵ ϯϮй DŽƌĞƚŚĂŶϱLJĞĂƌƐ ϰϮ ϭϮй /ĚŽƵďƚŵLJŽƌŐĂŶŝnjĂƚŝŽŶǁŽƵůĚďĞĂďůĞƚŽĚĞĞƉůŽLJƐƵĐŚƚĞĐŚŶŽůŽŐLJ ϰϬ ϭϮй %± $16:(5,1*7+(&$//_&DQDGLDQ$GYDQFHG7HFKQRORJ\$OOLDQFH YϭϬͶ/ŶǁŚĂƚŝŶĚƵƐƚƌLJƐĞŐŵĞŶƚƌĞůĞǀĂŶƚƚŽǁŝƌĞůĞƐƐƐďƌŽĂĚďĂŶĚƉƵďůŝĐƐĂĨĞƚLJĚŽLJŽƵƉĂƌƚŝĐŝƉĂƚĞƚŽĚĂLJ͍;/ŶĚƵƐƚƌLJKŶůLJͿ ŚŽŝĐĞƐ;ĨƌĞƋƵĞŶĐLJƚĂďůĞͿ ŽƵŶƚ WĞƌĐĞŶƚ tŝƌĞůĞƐƐŶĞƚǁŽƌŬŝŶĨƌĂƐƚƌƵĐƚƵƌĞ ϭϬ ϯϳй tŝƌĞůĞƐƐĚĞǀŝĐĞƐ ϭϭ ϰϭй EĞƚǁŽƌŬŵĂŶĂŐĞŵĞŶƚƐLJƐƚĞŵƐ ϴ ϯϬй ƉƉůŝĐĂƚŝŽŶƐƐŽĨƚǁĂƌĞ ϭϯ ϰϴй KƚŚĞƌ ϭϬ ϯϳй dŽƚĂůĂŶƐǁĞƌĞĚ͗Ϯϳ YϭϭͶ/ŶǁŚŝĐŚĂƐƉĞĐƚƐŽĨƚŚĞǁŝƌĞůĞƐƐďƌŽĂĚďĂŶĚƉƵďůŝĐƐĂĨĞƚLJƐŽůƵƚŝŽŶƐĚŽLJŽƵƉůĂŶƚŽƉĂƌƚŝĐŝƉĂƚĞŝĨϳϬϬD,njƐƉĞĐƚƌƵŵŝƐŵĂĚĞĂǀĂŝůĂďůĞ͍;ŝŶĚƵƐƚƌLJ KŶůLJͿ ŚŽŝĐĞƐ;ĨƌĞƋƵĞŶĐLJƚĂďůĞͿ ŽƵŶƚ WĞƌĐĞŶƚ tŝƌĞůĞƐƐŶĞƚǁŽƌŬŝŶĨƌĂƐƚƌƵĐƚƵƌĞ ϭϭ ϰϭй tŝƌĞůĞƐƐĚĞǀŝĐĞƐ ϭϭ ϰϭй EĞƚǁŽƌŬŵĂŶĂŐĞŵĞŶƚƐLJƐƚĞŵƐ ϵ ϯϯй ƉƉůŝĐĂƚŝŽŶƐƐŽĨƚǁĂƌĞ ϭϰ ϱϮй KƚŚĞƌ ϴ ϯϬй dŽƚĂůĂŶƐǁĞƌĞĚ͗Ϯϳ YϭϮͶdŚĞh͘^͘ŝƐĂůƐŽƐĞĞŬŝŶŐƚŽĂĚĚƌĞƐƐƐŝŵŝůĂƌŝƐƐƵ ƵĞƐƌĞůĂƚŝŶŐƚŽƚŚĞĂůůŽƚŵĞŶƚŽĨϳϬϬD,njďƌŽĂĚďĂŶĚĨŽƌƉƵďůŝĐƐĂĨĞƚLJ͗ǁŽ ŽƵůĚLJŽƵĂĚǀŝƐĞ/ŶĚƵƐƚƌLJ ĂŶĂĚĂƚŽŚŽůĚŽĨĨŽŶĂŶLJĂĐƚŝŽŶƐƵŶƚŝůƚŚĞ^ƚĂĂƚĞƐŚĂƐĐŽŶĐůƵĚĞĚƚŚĞŝƌŽǁŶĞĨĨŽƌƚƐ͍ ŚŽŝĐĞƐ ŽƵŶƚ WĞƌĐĞŶƚ zĞƐ ϲϰ ϭϵй EŽ ϮϬϭ ϲϬй hŶĚĞĐŝĚĞĚ ϳϭ Ϯϭй WĞƌĐĞŶƚ ϴϬй ϰϲй ϯϴй ŽƵŶƚ Ϯϲϴ ϭϱϲ ϭϮϵ %± $16:(5,1*7+(&$//_&DQDGLDQ$GYDQFHG7HFKQRORJ\$OOLDQFH YϭϯͶtŚŝĐŚŽĨƚŚĞĨŽůůŽǁŝŶŐǁŽƵůĚLJŽƵĞŶĐŽƵƌĂŐĞ/ŶĚƵƐƚƌLJĂŶĂĚĂƚŽƐƵƉƉŽƌƚ͍ ŚŽŝĐĞƐ;ĨƌĞƋƵĞŶĐLJƚĂďůĞͿ DĂŶĚĂƚŽƌLJĂĐĐĞƉƚĂŶĐĞďLJƉƵďůŝĐŝŶĨƌĂƐƚƌƵĐƚƵ ƵƌĞŽǁŶĞƌƐƚŽƉĞƌŵŝƚĚĞƉůŽLJŵĞŶƚŽĨ ƉƵďůŝĐƐĂĨĞƚLJŶĞƚǁŽƌŬĞƋƵŝƉŵĞŶƚƐŽŶƚŚĞŝƌƉ ƉƌĞŵŝƐĞƐ DĂŶĚĂƚŽƌLJĂĐĐĞƉƚĂŶĐĞďLJƉƌŝǀĂƚĞŝŶĨƌĂƐƚƌƵĐƚƚƵƌĞŽǁŶĞƌƐƚŽƉĞƌŵŝƚĚĞƉůŽLJŵĞŶƚŽĨ ƉƵďůŝĐƐĂĨĞƚLJŶĞƚǁŽƌŬĞƋƵŝƉŵĞŶƚƐŽŶƚŚĞŝƌƉ ƉƌĞŵŝƐĞƐ EŽŶͲŵĂŶĚĂƚŽƌLJŝŶĐĞŶƚŝǀĞƐĨŽƌĂĐĐĞƉƚĂŶĐĞďLJLJƉƌŝǀĂƚĞŝŶĨƌĂƐƚƌƵĐƚƵƌĞŽǁŶĞƌƐƚŽ ƉĞƌŵŝƚĚĞƉůŽLJŵĞŶƚŽĨƉƵďůŝĐƐĂĨĞƚLJŶĞƚǁŽƌŬŬĞƋƵŝƉŵĞŶƚƐŽŶƚŚĞŝƌƉƌĞŵŝƐĞƐ dŽƚĂůĂŶƐǁĞƌĞĚ͗ϯϯϲ
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