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Page 1: D Ç î ì î ì · 2020-04-28 · Title: C:\Users\azsco\AppData\Local\Temp\mso52E4.tmp Author: azsco Created Date: 4/27/2020 1:15:11 PM

DĂLJϮϬϮϬ sŽůƵŵĞϮϭ/ƐƐƵĞϱ

tŚĞŶǁĞ ĐŽŵĞ ƚŽ ƚŚĞǁĞĞŬĂŌĞƌ ĂƐƚĞƌǁĞďĞŐŝŶ ƚŽ ƌĞĂůŝnjĞ ƚŚĂƚ ĂƐƚĞƌĚŽĞƐŶƚĞŶĚ ĂƐƚĞƌ ŝƐŶŽƚĂŶĞŶĚƵŶƚŽ ŝƚƐĞůĨ tŚĂƚĂƐƚĞƌŵĞĂŶƐƚŽƵƐĂŶĚƚŽŽƵƌƌĞůĂƟŽŶƐŚŝƉǁŝƚŚƚŚĞ&ĂƚŚĞƌŝƐĂŶŽŶŐŽŝŶŐƐƚŽƌLJ dŚĞƌĞǁŝůů ďĞĚĂƌŬĚĂLJƐ ůŝŬĞ ƚŚĞŽŶĞƐǁĞĂƌĞ ĨĂĐŝŶŐŶŽǁ ĂŶĚ ƚŚĞƌĞǁŝůů ďĞďƌŝŐŚƚĚĂLJƐ,ŽǁďƌŝŐŚƚǁŝůůŝƚƐĞĞŵǁŚĞŶǁĞŚĞĂƌƚŚŽƐĞǁŽƌĚƐƚŚĂƚǁŝůůĂůůŽǁƵƐƚŽůĞĂǀĞŽƵƌŚŽŵĞƐĂŶĚŽƵƌŝƐŽůĂƟŽŶ,ŽǁďƌŝŐŚƚǁŝůůŝƚďĞǁŚĞŶǁĞŚĞĂƌůůŝƐĐůĞĂƌ :ĞƐƵƐƌĞůĂƟŽŶƐŚŝƉǁŝƚŚ>ĂnjĂƌƵƐĚŝĚŶŽƚĞŶĚǁŝƚŚ>ĂnjĂƌƵƐƐƌĞƐƵƌƌĞĐƟŽŶ,ĞǁĂƐŶƚĚŽŶĞǁŝƚŚŚŝŵLJĞƚ/ďĞůŝĞǀĞƚŚĂƚ>ĂnjĂƌƵƐĂůŽŶŐǁŝƚŚDĂƌLJĂŶĚDĂƌƚŚĂǁĞƌĞŝŶƚŚĂƚƉƌŽĐĞƐƐŝŽŶĂůŝŶƚŽ:ĞƌƵƐĂůĞŵƚŚĞŶĞdžƚĚĂLJ >ŽŽŬƉĞŽƉůĞǁŽƵůĚƉŽŝŶƚƚŽ>ĂnjĂƌƵƐǁĂůŬŝŶŐĂŶĚƐŵŝůŝŶŐĂŶĚǁĂǀŝŶŐƉĂůŵďƌĂŶĐŚĞƐďĞŚŝŶĚ:ĞƐƵƐdŚĞƌĞŝƐƚŚĞŵĂŶǁŚŽĚŝĞĚĨŽƵƌĚĂLJƐĂŐŽǀĞƌLJďŽĚLJŬŶŽǁƐ>ĂnjĂƌƵƐdŚĞƌĞŚĞŝƐĂůŝǀĞdŚĞƐƚŽƌŝĞƐĂƌĞƚƌƵĞdŚŝƐ:ĞƐƵƐŵƵƐƚďĞƚŚĞDĞƐƐŝĂŚ,ŽƐĂŶŶĂŚ tŚĂƚŚĂƉƉĞŶĞĚƚŽ>ĂnjĂƌƵƐĂŌĞƌ:ĞƐƵƐƌĞƐƵƌƌĞĐƟŽŶtĞĚŽŶƚŬŶŽǁĞdžĐĞƉƚƚŚĂƚŚĞĚŝĞĚĂŐĂŝŶŚƵƌĐŚƚƌĂĚŝƟŽŶƐĂLJƐƐŽŵĞǁŚĞƌĞŝŶ&ƌĂŶĐĞƐĞƌǀŝŶŐĂƐĂďŝƐŚŽƉƚŚĞƌĞ,ĞĚŝĚŶƚŬĞĞƉƵƉǁŝƚŚ:ĞƐƵƐ:ĞƐƵƐƐĞƚŚŝŵĨƌĞĞĨƌŽŵĚĞĂƚŚƚŚĞĮƌƐƚƟŵĞŝŶŽƌĚĞƌƚŽĐŚĂŶŐĞŚŝƐƚƌĂũĞĐƚŽƌLJŝŶůŝĨĞĂŶĚƉƵƚŚŝŵŽŶĂŶŽƚŚĞƌƉĂƚŚ,ĞĚŽĞƐƚŚĞƐĂŵĞǁŝƚŚƵƐ ƌĂŝŐĂƌŶĞƐƚĞůůƐƵƐƚŚĂƚŶŽŵĂƩĞƌŚŽǁŵĂŶLJƟŵĞƐǁĞŵĂŬĞĂƉƌŽŵŝƐĞƚŽ'ŽĚŽƌƚŽŽƵƌƐĞůǀĞƐǁĞũƵƐƚĐĂŶŶŽƚŬĞĞƉƵƉǁŝƚŚ'ŽĚĞĐĂƵƐĞŽĨŽƵƌŚƵŵĂŶĂŶĚĨĂůůĞŶŶĂƚƵƌĞǁĞĂƌĞŶŽƚĐĂƉĂďůĞŽĨ ŝƚ >ŝŬĞƚŚĞƉƌŽĚŝŐĂůƐŽŶǁĞƐŽƌƚŽĨǁĂŶĚĞƌĂǁĂLJ /ƚƐŶŽƚ'ŽĚĂďĂŶĚŽŶŝŶŐƵƐ/ƚƐƚŚĞŽƚŚĞƌǁĂLJĂƌŽƵŶĚ 'ŽĚǁŽŶƚ ĨŽƌƐĂŬĞƵƐĞǀĞŶ ŝŶĂƟŵĞŽĨƉĂŶĚĞŵŝĐďƵƚǁĞĐĂŶǁĂŶĚĞƌ ƐŽ ĨĂƌĂǁĂLJ ĨƌŽŵ'ŽĚƐŽƚŚĂƚ ŝƚ ĨĞĞůƐ ůŝŬĞǁĞŚĂǀĞďĞĞŶĂďĂŶĚŽŶĞĚdŚĂƚƐǁŚLJƚŚĞǁŽƌĚĨŽƌƐĂŬĞŶƐƚƌŝŬĞƐƐƵĐŚĂďũĞĐƚƚĞƌƌŽƌŝŶƚŽƵƐ/Ĩ'ŽĚǁĂƐǁŝůůŝŶŐƚŽĨŽƌƐĂŬĞŚŝƐŽǁŶƐŽŶŽŶƚŚĞĐƌŽƐƐŚŽǁŵƵĐŚŵŽƌĞǁŝůůŝŶŐǁŽƵůĚŚĞďĞƚŽĂďĂŶĚŽŶƵƐ ƵƚƚŚĞƉŽƐƚůĞWĂƵůĮŐƵƌĞĚŝƚŽƵƚ/ŶϮŽƌŝŶƚŚŝĂŶƐϱϮϭŚĞƚĞůůƐƵƐƚŚĂƚĨŽƌŽƵƌƐĂŬĞŚĞŵĂĚĞ;:ĞƐƵƐͿƚŽďĞƐŝŶǁŚŽŬŶĞǁŶŽƐŝŶƐŽƚŚĂƚŝŶŚŝŵǁĞŵŝŐŚƚďĞĐŽŵĞƚŚĞƌŝŐŚƚĞŽƵƐŶĞƐƐŽĨ'ŽĚ:ĞƐƵƐĂĐƚƵĂůůLJďĞĐŽŵĞƐŽƵƌƐŝŶ'ŽĚƚƵƌŶĞĚĂǁĂLJĨƌŽŵƚŚĂƚƚŽƚƵƌŶƚŽƵƐĂŶĚƐĂLJďĞůŽǀĞĚ ƵƚƚŚĞĂƐƚĞƌƐƚŽƌLJĚŽĞƐŶƚĞŶĚƚŚĞƌĞ/ŶŚŝƐŬtŚĞŶ'ŽĚ/ŶƚĞƌƌƵƉƚƐĂƌŶĞƐƐĂLJƐƚŚĂƚŝƚǁĂƐĚĞƐŝŐŶĞĚƚŽůĞĂĚƵƐŝŶƚŽŽƵƌĨƵƚƵƌĞǁŝƚŚ'ŽĚĂƐƚĞƌĐĂŶƚŚĂǀĞĂŶĞŶĚŝŶŐ tĞĐĂŶĨĞĞůĂďĂŶĚŽŶĞĚĂŶĚĨŽƌƐĂŬĞŶŝŶŽƵƌŝƐŽůĂƟŽŶďƵƚǁĞŶĞĞĚƚŽŬŶŽǁƚŚĂƚ'ŽĚŚĂƐĂůŽǀĞĨŽƌƵƐƚŚĂƚǁŝůůŶĞǀĞƌǁĂŶĞ,ĞǁŝůůĐŽŶƟŶƵĞǁŝƚŚŚŝƐƐĂǀŝŶŐƉŽǁĞƌŝŶŽƵƌůŝǀĞƐĂƐůŽŶŐĂƐǁĞůĞƚŚŝŵZŝŐŚƚƵƉƵŶƟůƚŚĂƚƟŵĞƚŚĂƚǁĞůĞĂǀĞƚŚŝƐǁŽƌůĚdŚĞŶŚĞǁŝůůůŽŽŬĂƚƵƐǁŝƚŚĂƐŵŝůĞĂŶĚƐĂLJŽŵĞŽŶůůŝƐĐůĞĂƌ

Et^ &ŝƌƐƚ

WƌĞƐďLJƚĞƌŝĂŶ

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DĂLJŶŶŝǀĞƌƐĂƌŝĞƐ DĂLJŝƌƚŚĚĂLJƐ

KƵƌŚƌŝƐƟĂŶƐLJŵƉĂƚŚLJŝƐĞdžƚĞŶĚĞĚƚŽƚŚĞĨĂŵŝůLJĂŶĚĨƌŝĞŶĚƐŽĨ:ĂŶĞƚ'ƌĂLJ:ĂŶĞƚƉĂƐƐĞĚĂǁĂLJŽŶDĂƌĐŚϭϵ

ϭϮ >ĂƌƌLJΘ:ĂĐŬŝĞ^ŚŝŶŶ ϭϱ :ŝŵΘ<ĂLJDŽŬŵĂ ϭϴ DŝŬĞΘDĂƌLJ^ƵĞĞĞƌƐ ϭϵ >ĂƌƌLJWĂnjŝĞƌΘĞďďŝĞƵƌĚĞƩ ĞĂŶΘKƌŵĂtĂŝďĞů ϮϬ ZŽŐĞƌΘŚĂƌůŽƩĞƵĐŬĞƩ Ϯϭ :ŽŚŶŶLJΘ:ĞĂŶ'ŽŵĞnj>ĞƐΘDĂƌŝůLJŶ,ĞŚƌ Ϯϳ ^ƚĞǀĞΘZŽŶŶLJŽƵŐůĂƐƐ Ϯϴ ĞŶŶLJ Θ DĂƌĐĞLJ ,ŽŶŽĚĞů ŝĐŬ Θ EĂŶĐLJ

WŽǁĞůů

Ϯ <ĞůƐĞLJWŝĐŬĞƩ ϯ ZŽŐĞƌƵĐŬĞƩ<ĞŝƚŚDŽŽŬ'ůĞŶŶKůŝŶŐĞƌ ϰ DĂƌŬsĂŶĚĞƌŚĞLJĚĞŶ ϲ :ĂĐƋƵĞůLJŶŶĞƌƵŵůĞLJ ϭϮ :ĂĐŬƐŽŶ/ĚĞĞŶ ϭϱ DŝĐŚĂĞůDĐEƵƩ ϭϲ ŽƌŽƚŚLJ:ĞĂŶ&ŽƐƚĞƌ ϭϳ :ĂŶĞůů,ĞŝŶůĞ:ƵĚLJDĂŶŶƐ'ĞŶĞDŽīĞƩ ϭϵ :ƵŶĞ'ƌĂďĞƌ ϮϮ ,ĞůĞŶ&ƌĂnjĞLJ Ϯϰ ŝŶĚLJůůŝƐ Ϯϴ sŝĐŬLJ,ĞĚƌŝĐŬ:ƵĚLJ<ŝƚĐŚŝŶŐ ϯϬ WĂƚŚĂŵďĞƌƐĂƌďĂƌĂ,ŽŐƐĞƩ

EĞdžƚEĞǁƐůĞƩĞƌĞĂĚůŝŶĞ DĂLJϭϱ

WůĞĂƐĞ ƐƵďŵŝƚ ƚLJƉĞǁƌŝƩĞŶ ĂƌƟĐůĞƐ ƚŽ ƚŚĞ ĐŚƵƌĐŚŽĸĐĞŽƌƚŽĨƉĐĐĂƐĂŐƌĂŶĚĞΛŐŵĂŝůĐŽŵ

ŚƵƌĐŚ&ĂŵŝůLJEĞǁƐ

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ĞĂĐŽŶƐŽƌŶĞƌ KŶDĂLJϯϮϬϮϭǁĞǁŝůůƌĞĂĐŚĂŵŝůĞƐƚŽŶĞ&ŝƌƐƚWƌĞƐďLJƚĞƌŝĂŶŚƵƌĐŚŽĨĂƐĂ'ƌĂŶĚĞǁŝůůďĞϭϮϱLJĞĂƌƐŽůĚ>ĞĂĚŝŶŐƵƉƚŽƚŚĂƚĞǀĞŶƚǁĞǁŝůůŽīĞƌďŝŽŐƌĂƉŚŝĐĂůƐŬĞƚĐŚĞƐŽĨƚŚĞƉĂƐƚŽƌƐǁŚŽŚĂǀĞƐĞƌǀĞĚ&WŽǀĞƌƚŚĂƚƉĞƌŝŽĚ

ZĞǀ/ƐĂĂĐdtŚŝƩĞŵŽƌĞϭϴϵϳ-ϭϴϵϵ /Ŷ^ĞƉƚĞŵďĞƌŽĨϭϴϴϴZĞǀ /ƐĂĂĐdŚŽŵĂƐtŚŝƩĞŵŽƌĞǁĂƐǀŝƐŝƟŶŐ&ůŽƌĞŶĐĞƌŝnjŽŶĂ ƚŚĞĐŽƵŶƚLJƐĞĂƚ ŽĨ WŝŶĂů ŽƵŶƚLJ ,Ğ ŐĂǀĞ Ă ƐĞƌŵŽŶ ƚŽ ĞĂŐĞƌ ƌĞƐŝĚĞŶƚƐ Ăƚ ƚŚĞ ĮƌƐƚ ĐŽƵŶƚLJ ĐŽƵƌƚŚŽƵƐĞ dŚĞƐĞƌŵŽŶ ǁĂƐ ƐŽ ǁĞůů ƌĞĐĞŝǀĞĚ ƚŚĂƚ ŚĞ ǁĂƐ ŐƌĞĂƚůLJ ĞŶĐŽƵƌĂŐĞĚ ďLJ ƚŚĞ ƌĞƐŝĚĞŶƚƐ ƚŽ ƌĞŵĂŝŶ ĂŶĚĞƐƚĂďůŝƐŚĂWƌĞƐďLJƚĞƌŝĂŶŚƵƌĐŚŝŶ&ůŽƌĞŶĐĞŌĞƌŵƵĐŚƉƌĂLJĞƌĨƵůĚĞůŝďĞƌĂƟŽŶŚĞĂŐƌĞĞĚĂŶĚƐĞŶƚĨŽƌ ŚŝƐ ǁŝĨĞ ĂŶĚ ĚĂƵŐŚƚĞƌ ƚŽ ũŽŝŶ Śŝŵ ,Ğ ƚŚĞŶ ďĞŐĂŶ ŝŶ ĞĂƌŶĞƐƚ ƚŚĞ ƚĂƐŬ ŽĨ ĞƐƚĂďůŝƐŚŝŶŐ ĂĐŽŶŐƌĞŐĂƟŽŶ /Ŷϭϴϵϲ ŚĞ ďĞĐĂŵĞ ƚŚĞĮƌƐƚ ŝŶ Ă ůŽŶŐ ůŝŶĞŽĨ ƐƚĂƚĞĚ ƐƵƉƉůLJ ƉĂƐƚŽƌƐ ƚŽ ƐĞƌǀĞ &WǁŚŝůĞ ĂůƐŽ ƐĞƌǀŝŶŐ ƚŚĞ &ůŽƌĞŶĐĞ ĐŚƵƌĐŚ dŚĞ &ůŽƌĞŶĐĞ dƌŝďƵŶĞ ƉƌŝŶƚƐ ƚŚŝƐ ĂĐĐŽƵŶƚ ŽĨ ZĞǀ /d

tŚŝƩĞŵŽƌĞƐdƌĂǀĞůƐŝŶƚŚĞ^ĂƚƵƌĚĂLJ:ƵŶĞϱϭϴϵϳĞĚŝƟŽŶĂŐůĞ>ĂŬĞ/EDĂLJϮϳϭϴϵϳĚŝƚŽƌdƌŝďƵŶĞ-DLJƉůĂŶƐŽŶůĞĂǀŝŶŐŚŽŵĞŽŶƚŚĞϴƚŚŚĂǀĞďĞĞŶĐĂƌƌŝĞĚŽƵƚƚŽƚŚĞůĞƩĞƌ/ƉƌĞĂĐŚĞĚĂƚƌŝnjŽůĂĂŶĚĂƐĂ'ƌĂŶĚĞŽŶƚŚĞϵƚŚƐƉĞŶƚƚŚĞϭϬƚŚĂƚƚŚĞĐĂƉŝƚŽůĂŶĚƚŚĞϭϭƚŚĂƚWƌĞƐĐŽƩdŚĞƌĞ/ŵĞƚ,ŽŶ:ŽƌĂŶ:ƵĚŐĞ^ůŽĂŶĂŶĚDŽĚĞŶdŚĞĞdžĐŝƚĞŵĞŶƚŽĨ^ƵŶĚĂLJ ƚŚĞ ϵƚŚ ŽǀĞƌ ƚŚĞ ũĂŝů ĞƐĐĂƉĞ ŽĨ WĂƌŬĞƌDŝůůĞƌ ĂŶĚ ŽƌŶĞůŝĂ ĂŶĚŵƵƌĚĞƌ ŽĨ EŽƌƌŝƐ ŚĂĚ ŚĂƌĚůLJ ƐƵďƐŝĚĞĚ ĂŶĚƐĞǀĞƌĂůƉĂƌƟĞƐŚĂĚŐŽŶĞŝŶƉƵƌƐƵŝƚŽĨƚŚĞĨƵŐŝƟǀĞƐ dŚĞϭϮƚŚ/ƐƉĞŶƚǁŝƚŚĂŶŽůĚĨƌŝĞŶĚtŝůůŝĂŵ:ŽŚŶƐŽŶĂƚƚŚĞǁŽŶĚĞƌĨƵů:ĞƌŽŵĞŵŝŶĞ/ŚĂĚŶĞǀĞƌƐĞĞŶĂŶLJƚŚŝŶŐůŝŬĞŝƚ–ĐĂŶƚƐƚŽƉŶŽǁƚŽĚĞƐĐƌŝďĞŝƚ–ŵĂLJůĂƚĞƌdŚĞϭϯƚŚ/ƐƉĞŶƚĂƚ:ĞƌŽŵĞ:ƵŶĐƟŽŶĂŶĚĂƚĞǀĞŶŝŶŐĐĂŵĞƚŽƐŚ&ŽƌŬKŶƚŚĞŵŽƌŶŝŶŐŽĨƚŚĞϭϰƚŚ/ŵĞƚ^ŚĞƌŝīƐ'ĂůƉŝŶĂŶĚĂŵĞƌŽŶǁŝƚŚĮǀĞďůŽŽĚŚŽƵŶĚƐĂŶĚƚŚĞLJĐĂŵĞŽŶƚŚĞƚƌĂŝŶƚŽtŝůůŝĂŵƐ ĂŶĚ ƚŚĞƌĞ ƐƚĂƌƚĞĚ ĨŽƌ WĂƌŬĞƌƐ ƚƌĂŝů ƚ ĞǀĞŶŝŶŐ / ǁĂƐ Ăƚ &ůĂŐƐƚĂīDŝůůĞƌ ǁĂƐ ďƌŽƵŐŚƚ ŝŶ ĂŶĚ ũĂŝůĞĚ ƚŚĞƌĞĨŽůůŽǁĞĚďLJĂůĂƌŐĞĐƌŽǁĚEŽƚĂǁŽƌĚŚĂǀĞ/ŚĞĂƌĚLJĞƚĨƌŽŵƚŚĞŽƚŚĞƌƐ / ƌĞŵĂŝŶĞĚ Ăƚ &ůĂŐƐƚĂī ĂŶĚ ďLJ ĂƉƉŽŝŶƚŵĞŶƚ ŽĨ ƚŚĞ WƌĞƐďLJƚĞƌLJ ŝŶƐƚĂůůĞĚ ZĞǀ ,W ĂƌƐŽŶ ĂƐ ƉĂƐƚŽƌ ŽĨ ƚŚĞWƌĞƐďLJƚĞƌŝĂŶĐŚƵƌĐŚĂŶĚůĞŌĨŽƌ<ĂŶƐĂƐŝƚLJŽŶDŽŶĚĂLJ/ŚĂĚƚǁĞŶƚLJŵŝŶƵƚĞƐǁŝƚŚůůĂĂƚƚŚĞhŶŝŽŶĚĞƉŽƚĂƚ<ĂŶƐĂƐŝƚLJĂŶĚƉƵƐŚĞĚŽŶƚŽŚŝĐĂŐŽĂŶĚƌĞĂĐŚĞĚƚŚĞƌĞtĞĚŶĞƐĚĂLJĂƚϭϬĂŵĂŶĚƉƵƚƵƉĂƚƚŚĞWĂůŵĞƌ,ŽƵƐĞdŚƵƌƐĚĂLJĂƚϳϯϬĂŵďŽĂƌĚĞĚƚŚĞƐƐĞŵďůLJƚƌĂŝŶĂŶĚƌĞĂĐŚĞĚƚŚŝƐďĞĂƵƟĨƵůƐƉŽƚĂƚϭϬϯϬĂŵŝŶƟŵĞĨŽƌƚŚĞŽƉĞŶŝŶŐŽĨƚŚĞϭϬϬƚŚ'ĞŶĞƌĂůƐƐĞŵďůLJŽĨƚŚĞWƌĞƐďLJƚĞƌŝĂŶŚƵƌĐŚŽĨƚŚĞhŶŝƚĞĚ^ƚĂƚĞƐ/ǁŝůůŐŝǀĞĂĨƵƌƚŚĞƌĂĐĐŽƵŶƚŽĨŵLJƐƚĞǁĂƌĚƐŚŝƉŝŶŵLJŶĞdžƚdƌƵůLJLJŽƵƌƐ>ŝƩůĞWĂƌƐŽŶ ZĞǀtŚŝƩĞŵŽƌĞĂůƐŽŚĂĚĂŶŝŶƚĞƌĞƐƚŝŶƚŚĞŶĂƟǀĞƉŽƉƵůĂƟŽŶŽĨƌŝnjŽŶĂĂŌĞƌďĞĐŽŵŝŶŐĂĐƋƵĂŝŶƚĞĚǁŝƚŚZĞǀŚĂƌůĞƐŽŽŬǁŚŽŚĂĚƐĞƌǀĞĚĂƐŵŝƐƐŝŽŶĂƌLJƚŽƚŚĞWŝŵĂƚƌŝďĞƐŝŶĐĞϭϴϴϭ,ŝƐĨƌĞƋƵĞŶƚƚƌŝƉƐďĞƚǁĞĞŶ&ůŽƌĞŶĐĞĂŶĚĂƐĂ'ƌĂŶĚĞĂīŽƌĚĞĚŚŝŵƚŚĞŽƉƉŽƌƚƵŶŝƚLJƚŽůŽŽŬŝŶŽŶƚŚĞĂƐĂ'ƌĂŶĚĞƌƵŝŶƐ,ĞďĞĐĂŵĞƚŚĞƵŶŽĸĐŝĂůĐƵƐƚŽĚŝĂŶŽĨƚŚĞƐŝƚĞŽĨƚŚĞĂŶĐŝĞŶƚ,ŽŚŽŬĂŵƐ,ĞǁĂƐĂƉƉŽŝŶƚĞĚďLJ/ŶƚĞƌŝŽƌ^ĞĐƌĞƚĂƌLJ:ŽŚŶEŽďůĞƚŽďĞƚŚĞĮƌƐƚĐĂƌĞƚĂŬĞƌŽĨƚŚĞĂƐĂ'ƌĂŶĚĞZƵŝŶƐ,ĞůŽďďŝĞĚĨŽƌƚŚĞŚŝƐƚŽƌŝĐƐŝƚĞƚŽĐŽŵĞƵŶĚĞƌƚŚĞƉƌŽƚĞĐƟŽŶŽĨƚŚĞEĂƟŽŶĂůWĂƌŬƐƐĞƌǀŝĐĞ,ŝƐƉůĞĂƐĨĞůůŵŽƐƚůLJŽŶĚĞĂĨĞĂƌƐ,ŽǁĞǀĞƌŚĞǁĂƐĂďůĞƚŽƐĞĐƵƌĞƐŽŵĞĨƵŶĚƐƚŽŚĞůƉƉƌĞƐĞƌǀĞƚŚĞƐŝƚĞ,ĞĂůƐŽůŽďďŝĞĚĐŽŶŐƌĞƐƐĨŽƌƚŚĞ ĐŽŶƐƚƌƵĐƟŽŶ ŽĨ ƚŚĞ ^ĂŶ ĂƌůŽƐ ƌĞƐĞƌǀŽŝƌ ƚŽ ĂŝĚ ƚŚĞ ŶĂƟǀĞ ƉĞŽƉůĞ /Ŷ ϭϴϵϵ ŚŝƐ ƐĞƌǀŝĐĞ ƚŽ ƚŚĞ ĂƐĂ'ƌĂŶĚĞ ĂŶĚ&ůŽƌĞŶĐĞĐŚƵƌĐŚĞƐĂƐǁĞůůĂƐďĞŝŶŐĐĂƌĞƚĂŬĞƌĨŽƌƚŚĞƌƵŝŶƐĐĂŵĞƚŽĂŶĞŶĚ,ĞůĂƚĞƌƌĞƟƌĞĚŝŶĂůŝĨŽƌŶŝĂƚŽůŝǀĞǁŝƚŚŚŝƐĚĂƵŐŚƚĞƌŝŶWĂƐĂĚĞŶĂKŶ&ĞďƌƵĂƌLJϮϬϭϵϬϰŚĞƌŽĚĞŚŝƐǁŚĞĞů;ďŝĐLJĐůĞͿƚŽEŽƌƚŚWĂƐĂĚĞŶĂƚŽƚĂŬĞƐŽŵĞĨƌƵŝƚƚŽĂƐŝĐŬĨƌŝĞŶĚKŶƚŚĞǁĂLJŚŽŵĞŚĞǁĂƐƐƚƌƵĐŬďLJĂƐƚƌĞĞƚĐĂƌĂŶĚŝŶƐƚĂŶƚůLJŬŝůůĞĚ,ĞǁĂƐďƵƌŝĞĚŝŶĂůŝĨŽƌŶŝĂďƵƚŚŝƐŶĂŵĞĂƉƉĞĂƌƐŽŶƚŚĞďĂĐŬŽĨŚŝƐǁŝĨĞƐŚĞĂĚƐƚŽŶĞŝŶƵƩĞĐĞŵĞƚĞƌLJŝŶ&ůŽƌĞŶĐĞ

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tŽƌƐŚŝƉ /ŚĂǀĞĂĨĂǀŽƌŝƚĞƐĞŶĚŝŶŐŚLJŵŶĨŽƌƚŚĞĐůŽƐŝŶŐŽĨtŽƌƐŚŝƉ'ŽĚĞǁŝƚŚzŽƵ 'ŽĚďĞǁŝƚŚLJŽƵƟůůǁĞŵĞĞƚĂŐĂŝŶLJ,ŝƐĐŽƵŶƐĞůƐŐƵŝĚĞƵƉ-ŚŽůĚLJŽƵtŝƚŚ,ŝƐƐŚĞĞƉƐĞĐƵƌĞůLJĨŽůĚLJŽƵ'ŽĚďĞǁŝƚŚLJŽƵƟůůǁĞŵĞĞƚĂŐĂŝŶ ^ŽĂƐǁĞƌĞĂĚƚŚĞƐĞǁŽƌĚƐĂŶĚLJĞƐƐŝŶŐƚŚĞŵƚŽŽƵƌƐĞůǀĞƐ/ŵƌĞŵŝŶĚĞĚŽĨĂůůƚŚĞŐƌĞĂƚƚŚŝŶŐƐŽƵƌĐŚƵƌĐŚƐƚĂīŝƐĚŽŝŶŐĚƵƌŝŶŐƚŚŝƐƟŵĞŽĨƋƵĂƌĂŶƟŶĞ ^Ž/ƐĂLJƚŚĂŶŬLJŽƵƚŽWĂƐƚŽƌWĂƵůĂŶĚWĂƐƚŽƌŝůů,ĞĂƚŚĞƌĂŶĚ,ĂƌŽůĚůƐŽŵĂŶLJƚŚĂŶŬƐƚŽĂůůƚŚĞƉĞŽƉůĞǁŚŽǁŽƌŬƐŽ ĚŝůŝŐĞŶƚůLJ ďĞŚŝŶĚ ƚŚĞ ƐĐĞŶĞƐ ƚŽ ďƌŝŶŐ ƵƐ ^ƵŶĚĂLJtŽƌƐŚŝƉ ŽŶ &ĂĐĞŽŽŬ ĂŶĚ zŽƵdƵďĞ ĂŶĚ ƚŚĞ ĚĂŝůLJ ĞǀŽƟŽŶƐƚŚƌŽƵŐŚƚŚĞƐĂŵĞŵĞĚŝĂŽƵƚůĞƚƐ tĞŚĂǀĞĂŶĂŵĂnjŝŶŐĐŚƵƌĐŚĨĂŵŝůLJĂŶĚĂƌĞƚƌƵůLJďůĞƐƐĞĚ 'ŽĚĞǁŝƚŚzŽƵƟůůǁĞŵĞĞƚĂŐĂŝŶ

dƌĂǀŝƐ

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ůů'ŽĚΖƐĐŚŝůĚƌĞŶŚĂǀĞƐŚŽĞƐ

ŶĚ ƚŚĂƚ ŝƐ ĂǀĞƌLJ ŐŽŽĚ ƚŚŝŶŐďĞĐĂƵƐĞ ůĂƐƚǁĞĞŬ ƚŚĞƉĂƌĞŶƚƐ ĂƚŽƩŽŶǁŽŽĚ^ĐŚŽŽůĚƌŽƉƉĞĚŽīŽǀĞƌϯϬϬƉĂŝƌƐŽĨŐĞŶƚůLJǁŽƌŶ ƐŚŽĞƐ ĂƐ ƚŚĞLJ ƉŝĐŬĞĚ ƵƉ ůƵŶĐŚĞƐ ĨŽƌ ƚŚĞŝƌ ƐƚƵĚĞŶƚƐ ^ŽǁĞ ŚĂǀĞŵĞƚ ŽƵƌ ŐŽĂů ŽĨ ϮϱϬϬ ƉĂŝƌƐtĞǁŝůůĐŽŶƟŶƵĞƚŽĂĐĐĞƉƚĚŽŶĂƚĞĚƐŚŽĞƐƵŶƟů&ƵŶĚƐϮKƌŐƐƐĞŶĚƐĂƚƌƵĐŬƚŽƉŝĐŬƵƉƚŚĞĚŽŶĂƟŽŶƐƚŚĞĮƌƐƚǁĞĞŬŽĨDĂLJ

ŚƵŐĞƚŚĂŶŬLJŽƵƚŽƚŚĞΗ^ŚŽĞƌĞǁΗǁŚŽŚĂǀĞĐŽŶƟŶƵĞĚƚŽǁŽƌŬŽŶƚŚŝƐƉƌŽũĞĐƚĨŽƌŵŽŶƚŚƐDĂƌLJŶŶƌĂĚLJ:ĞĂŶ'ŽŵĞnj &ĂLJ &ĂƌĂƌ ^ĂŶĚLJDŽƌŝŶ WĂƵůŝŶĞ WŝĐŬĞƩ ĂŶĚ <ĂLJ ^ǀĞĚũĂŶ ůƐŽ ƚŚĂŶŬ LJŽƵ ƚŽ ŽƵƌ ĐŽŶŐƌĞŐĂƟŽŶ ĨŽƌ ƚŚĞŝƌŐĞŶĞƌŽƐŝƚLJĂŶĚƉĂƟĞŶĐĞĂƐǁĞŚĂǀĞĨŽĐƵƐĞĚŽŶƚŚŝƐŵŝƐƐŝŽŶ

DŝƐƐŝŽŶƐ

^ĞĞĚƐŽĨ,ŽƉĞ dŚĂŶŬLJŽƵƚŽĞǀĞƌLJŽŶĞƚŚĂƚƐƵƉƉŽƌƚĞĚƵƐŽŶ'ŝǀĞƐĂLJƵƌŝŶŐƚŚĞƐĞƚƌLJŝŶŐĂŶĚƵŶĐĞƌƚĂŝŶƟŵĞƐŝƚǁĂƐĐĞƌƚĂŝŶůLJĂďůĞƐƐŝŶŐƚŽƐĞĞƚŚĞƐƵƉƉŽƌƚǁĞŚĂĚtĞǁĞƌĞũƵƐƚƵŶĚĞƌŽƵƌŐŽĂůŽĨΨϲϬϬϬϬďƵƚƐƟůůĮŶŝƐŚĞĚϮŶĚŝŶŵŝĚ-ƐŝnjĞŶŽŶ-ƉƌŽĮƚƐĨŽƌƚŚĞĞŶƟƌĞƐƚĂƚĞdŚĂƚĮŶŝƐŚƉƵƚƐƵƐŝŶůŝŶĞĨŽƌĂΨϱϬϬϬďŽŶƵƐ ŶƵƉĚĂƚĞŽŶƚŚĞŚŽƚůƵŶĐŚƉƌŽŐƌĂŵǁĞĂƌĞƐĞƌǀŝŶŐƐĂĐŬůƵŶĐŚĞƐƉƌĞƉĂƌĞĚďLJ^sWĂƚƚŚĞĨƌŽŶƚĚŽŽƌŽŶůLJdŚŽƐĞŽĨLJŽƵǁŚŽŚĂǀĞĐŽŶƟŶƵĞĚƚŽŚĞůƉǀŽůƵŶƚĞĞƌǁĞĐĂŶŶŽƚĞdžƉƌĞƐƐŽƵƌŐƌĂƟƚƵĚĞĞŶŽƵŐŚ >ŝŬĞĂůůŽĨƵƐǁĞůŽŽŬĨŽƌǁĂƌĚƚŽƚŚĞĚĂLJƚŚŝŶŐƐǁŝůůƌĞƚƵƌŶƚŽƐĞŵŝ-ŶŽƌŵĂůKƵƌĨĂŝƚŚŝŶ'ŽĚĂŶĚŽƵƌƉƵƌƉŽƐĞƚŚƌŽƵŐŚŽƵƌDŝŶŝƐƚƌLJƐǁŝůůŐĞƚƵƐƚŚƌŽƵŐŚƚŚŝƐ &Žƌ ŵŽƌĞ ŝŶĨŽƌŵĂƟŽŶ ŽŶ ƚŚĞƐĞ ĞǀĞŶƚƐ Žƌ ŽŶ ĂŶLJ ŽĨ ŽƵƌ ŵŝŶŝƐƚƌŝĞƐ ĨŽůůŽǁ ƵƐ ŽŶ &ĂĐĞŬ ŽƵƌ ǁĞďƐŝƚĞǁǁǁƐĞĞĚƐŽĬŽƉĞĂnjĐŽŵŽƌĐĂůůŽƵƌŽĸĐĞĂƚϴϯϲ-ϲϯϯϱ ůĞƐƐŝŶŐƐƚŽůů DĂƌŬ

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^ĞƐƐŝŽŶhƉĚĂƚĞ ^ĞƐƐŝŽŶŚĂƐĐŽŶƟŶƵĞĚƚŽƐƵƐƉĞŶĚƐĞƌǀŝĐĞƐĚƵƌŝŶŐƚŚĞŽǀŝĚ-ϭϵWĂŶĚĞŵŝĐ tĞǁŝůůĐŽŶƟŶƵĞƚŽ ůŝƐƚĞŶƚŽƚŚĞƐƚĂƚĞŽĨƌŝnjŽŶĂŝŶƌĞŐĂƌĚƚŽĂŶLJĚĞĐŝƐŝŽŶƐŝŶƚŚĞĨƵƚƵƌĞ /ƚǁĂƐĚĞĐŝĚĞĚƚŽĐŽŶƚƌŝďƵƚĞŽƵƌΨϮϱϬϬϬĨĞĞĨŽƌDŽŶƚůƵƌĞĂLJĂŵƉƚŽƌĞďƵŝůĚŝŶŐĂƚ'ƌĞĞƌ tĞŵĞƚĂŶĚĞdžĐĞĞĚĞĚDŝƐƐŝŽŶƐŐŽĂůǁŝƚŚϮϱϱϬƉĂŝƌƐŽĨƐŚŽĞƐŐŽŝŶŐƚŽ&ƵŶĚƐϮKƌŐƐ tĞǁĞƌĞďůĞƐƐĞĚƚŽŚĂǀĞƌƵĐĞELJŵĂŶĂƐƉĂƌƚŽĨŽƵƌĐŚƵƌĐŚĨĂŵŝůLJĂŶĚǁŝƐŚŚŝŵĂŶĚŚŝƐǁŝĨĞǁĞůůŝŶƚŚĞŝƌŵŽǀĞ

ϮϬϮϬ-ϮϬϮϭ^ĐŚĞĚƵůĞ

^ĞƉƚĞŵďĞƌϭϱϮϬϮϬ KĐƚŽďĞƌϮϬϮϬϮϬ EŽǀĞŵďĞƌϭϳϮϬϮϬ ĞĐĞŵďĞƌϭϮϮϬϮϬ;ŚƌŝƐƚŵĂƐƌƵŶĐŚͿ :ĂŶƵĂƌLJϭϵϮϬϮϭ &ĞďƌƵĂƌLJϭϲϮϬϮϭ DĂƌĐŚϮϳϮϬϮϭ;dĞĂtŝƚŚZƵƚŚͿ

tŽŵĞŶƐDŝŶŝƐƚƌLJ

WĞƌƐŽŶŶĞůZĞƉŽƌƚ ^ĂĚůLJZŽďĞƌƚĂŽĞƌŐĞƐǁŚŽŚĂƐďĞĞŶŽƵƌǁŽŶĚĞƌĨƵůƉŝĂŶŝƐƚĂŶĚŬĞLJďŽĂƌĚƉůĂLJĞƌĨŽƌƚƌĂĚŝƟŽŶĂůƐĞƌǀŝĐĞƐĨŽƌĂďŽƵƚϮϯLJĞĂƌƐŚĂƐƐƵďŵŝƩĞĚŚĞƌƌĞƐŝŐŶĂƟŽŶĞīĞĐƟǀĞDĂLJϭϱ ^ŚĞŚĂƐĚĞĐŝĚĞĚƚŽƌĞƟƌĞĞŶƟƌĞůLJŝŶŽƌĚĞƌƚŽƉƵƌƐƵĞŵŽƌĞƚƌĂǀĞůĂŶĚĨĂŵŝůLJĂĐƟǀŝƟĞƐ^ŚĞŚĂƐĨĂŝƚŚĨƵůůLJĂŶĚĚĞƉĞŶĚĂďůLJƐĞƌǀĞĚŽƵƌĐŚƵƌĐŚŝŶŵĂŶLJĐĂƉĂĐŝƟĞƐĨŽƌLJĞĂƌƐŝŶĐůƵĚŝŶŐĂƐĐƋƵŝƌĞĂĐĐŽŵƉĂŶŝƐƚĨŽƌϭϵLJĞĂƌƐŚĂŶĐĞůŚŽŝƌĂĐĐŽŵƉĂŶŝƐƚĨŽƌϭϲLJĞĂƌƐĂŶĚdƌĂĚŝƟŽŶĂůDƵƐŝĐŽŽƌĚŝŶĂƚŽƌĨŽƌƚŚĞƉĂƐƚĐŽƵƉůĞŽĨLJĞĂƌƐůƚŚŽƵŐŚZŽďĞƌƚĂǁŝůůďĞƐŽƌĞůLJŵŝƐƐĞĚĂƚƚŚĞƉŝĂŶŽǁĞĂƌĞŚĂƉƉLJĨŽƌƚŚŝƐŶĞǁƉŚĂƐĞŝŶŚĞƌůŝĨĞĂŶĚǁŝƐŚŚĞƌ'ŽĚƐďůĞƐƐŝŶŐƐĂŶĚƐŝŶĐĞƌĞůLJƚŚĂŶŬŚĞƌĨŽƌŚĞƌƐĞƌǀŝĐĞƚŽ&W ZŽŶŶLJŽƵŐůĂƐƐ ůĚĞƌĨŽƌWĞƌƐŽŶŶĞů

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DĂLJϮϬϮϬ ^ƵŶĚĂLJ DŽŶĚĂLJ dƵĞƐĚĂLJ tĞĚŶĞƐĚĂLJ dŚƵƌƐĚĂLJ &ƌŝĚĂLJ ^ĂƚƵƌĚĂLJ

ϭ ϲϰϱ ϲϰϱů-ŶŽŶ ϭϬϬϬ ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ

Ϯ ϲϰϱ ϳϯϬdƌĂĸĐ^ĐŚŽŽů ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ ϲϯϬů-ŶŽŶ ϲϯϬ

ϯ ϴϯϬtŽƌƐŚŝƉ ;KŶůŝŶĞͿ

ϰ ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ ϰϯϬtt

ϱ ϵϬϬ^ƚĂīDĞĞƟŶŐǀŝĂŽŽŵ ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ

ϲ ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ

ϳ ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ

ϴ ϲϰϱ ϲϰϱů-ŶŽŶ ϭϬϬϬ ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ

ϵ ϲϰϱ ϳϯϬdƌĂĸĐ^ĐŚŽŽů ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ ϲϯϬů-ŶŽŶ ϲϯϬ

ϭϬ ϴϯϬtŽƌƐŚŝƉ ;KŶůŝŶĞͿ

ϭϭ ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ ϰϯϬtt

ϭϮ ϵϬϬ^ƚĂīDĞĞƟŶŐǀŝĂŽŽŵ ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ

ϭϯ ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ

ϭϰ ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ

ϭϱ ϲϰϱ ϲϰϱů-ŶŽŶ ϭϬϬϬ ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ

ϭϲ ϲϰϱ ϳϯϬdƌĂĸĐ^ĐŚŽŽů ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ ϲϯϬů-ŶŽŶ ϲϯϬ

ϭϳ ϴϯϬtŽƌƐŚŝƉ ;KŶůŝŶĞͿ

ϭϴ ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ ϰϯϬtt

ϭϵ ϵϬϬ^ƚĂīDĞĞƟŶŐǀŝĂŽŽŵ ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ ϯϯϬWƌĂŝƐĞdĞĂŵ

ϮϬ ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ

Ϯϭ ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ ϯϬϬ^ĞƐƐŝŽŶǀŝĂŽŽŵ

ϮϮ ϲϰϱ ϲϰϱů-ŶŽŶ ϭϬϬϬ ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ

Ϯϯ ϲϰϱ ϳϯϬdƌĂĸĐ^ĐŚŽŽů ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ ϲϯϬů-ŶŽŶ ϲϯϬ

Ϯϰ ϴϯϬtŽƌƐŚŝƉ ;KŶůŝŶĞͿ ϯϭ ϴϯϬtŽƌƐŚŝƉ ;KŶůŝŶĞͿ

Ϯϱ K&&/>K^—DĞŵŽƌŝĂůĂLJ

ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ

Ϯϲ ϵϬϬ^ƚĂīDĞĞƟŶŐǀŝĂŽŽŵ ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ ϯϯϬWƌĂŝƐĞdĞĂŵ

Ϯϳ ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ

Ϯϴ ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ

Ϯϵ ϲϰϱ ϲϰϱů-ŶŽŶ ϭϬϬϬ ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ

ϯϬ ϲϰϱ ϳϯϬdƌĂĸĐ^ĐŚŽŽů ϮϬϬĂŝůLJĞǀŽƟŽŶĂůŽŶ&ĂĐĞŬ ϲϯϬů-ŶŽŶ ϲϯϬ

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DŝŶŝƐƚƌLJŽŶŶĞĐƟŽŶ

DŝŶŝƐƚĞƌƐtŚŽůĞŽŶŐƌĞŐĂƟŽŶ ƐƐŽĐŝĂƚĞWĂƐƚŽƌ ŝůů,ĞŝŶůĞ ĞůůŚŽŝƌ <ŝŵ&ƌĞLJĞƌŵƵƚŚ ^ƵƐĂŶYƵŝŶƚĂŶĂƌ ŚĂŶĐĞůŚŽŝƌ :ƵŶĞ'ƌĂďĞƌ ŚŽŝƌĐĐŽŵƉĂŶŝƐƚ <ŝŵ&ƌĞLJĞƌŵƵƚŚ ƵƐƚŽĚŝĂŶ ,ĂƌŽůĚ>ŽǀĞůů 'ƌĂĐĞ'ƌŽƵƉƐ ĂƌŽůĚĂŵĂǀŝĐŚ >ŝŶĚĂ/ƌǀŝŶ <ŝƚĐŚĞŶDŝŶŝƐƚƌLJ <ĂƌĞŶ>ůŽLJĚ DĞŵŽƌŝĂůŽŵŵŝƩĞĞ DĂƌĐĞLJ,ŽŶŽĚĞů DĞŶƐDŝŶŝƐƚƌLJ ZĞǀWĂƵůůŐŝŶ EƵƌƐĞƌLJƩĞŶĚĂŶƚƐ :ĂƐŵŝŶŝĂnj ůŝƐŽŶ'ŽŵĞnj KĸĐĞDĂŶĂŐĞƌ ,ĞĂƚŚĞƌDĐEƵƩ KƌŐĂŶŝƐƚ :ĂŶĞƚŚŝŶŐƚŽŶ WĂƐƚŽƌ ZĞǀWĂƵůůŐŝŶ ^ĞĞĚƐŽĨ,ŽƉĞ DĂƌŬsĂŶĚĞƌŚĞLJĚĞŶ ^ĞdžƚŽŶ WĞƚĞsŽŐĞů ^ƉĞĐŝĂůǀĞŶƚƐŽŽƌĚ ZĞŶĞĞ>ŽǀĞůů ^ƚĞƉŚĞŶDŝŶŝƐƚƌLJ ŝůů,ĞŝŶůĞ dƌĂĚůtŽƌƐŚŝƉDƵƐŝĐ ZŽďĞƌƚĂŽĞƌŐĞƐ tŽŵĞŶƐŝďůĞ^ƚƵĚLJ ŽŶŝƚĂ'ŽĚǁŝŶ tŽŵĞŶƐDŝŶŝƐƚƌLJ ZĞŶĞĞ>ŽǀĞůů

WŚŽŶĞ;ϱϮϬͿϴϯϲ-ϱϵϴϭ KĸĐĞ,ŽƵƌƐDŽŶĚĂLJ-dŚƵƌƐĚĂLJ

ϳϬϬĂŵ—ϱϬϬƉŵ ;ĐůŽƐĞĚĨŽƌůƵŶĐŚϭϮϯϬ-ϭϯϬͿ

-ŵĂŝůĨƉĐĐĂƐĂŐƌĂŶĚĞΛŐŵĂŝůĐŽŵ ƉĂƐƚŽƌĐŐĨΛŐŵĂŝůĐŽŵ

ǁǁǁĮƌƐƚƉƌĞƐďLJƚĞƌŝĂŶĐĂƐĂŐƌĂŶĚĞĐŽŵ ŚƩƉƐǁǁǁĨĂĐĞŬĐŽŵ

ĮƌƐƚƉƌĞƐďLJƚĞƌŝĂŶ'

,ŽǁdŽZĞĂĐŚhƐ

^ĞƐƐŝŽŶ

:ŝŵŶƚŚŽůnj;WƌŽƉĞƌƟĞƐͿ ĐŽůŽũŝŵΛŚŽƚŵĂŝůĐŽŵ ƌŝĐĞƌƚŶĞƐƐ;&ŝŶĂŶĐĞͿ ĞƌŝĐďĞƌƚŶĞƐƐΛŚŽƚŵĂŝůĐŽŵ dƌĂǀŝƐŽƩ;tŽƌƐŚŝƉͿƚůďĂnjΛLJĂŚŽŽĐŽŵ sŝĐŬŝŽŽƉĞƌ;DŝƐƐŝŽŶƐͿ ǀĐŽŽƉĞƌϵΛĐĞŶƚƵƌLJůŝŶŬŶĞƚ ZŽŶŶLJŽƵŐůĂƐƐ;WĞƌƐŽŶŶĞůͿ ƌǁĚŽƵŐůĂƐƐΛĐŽdžŶĞƚ :ĞĂŶ'ŽŵĞnj;ŚƌŝƐƟĂŶĚƵĐĂƟŽŶͿ ŐŽũĞĂŶϮϮΛLJĂŚŽŽĐŽŵ ĞĂŶ,ĂƵŐ;WƌŽƉĞƌƟĞƐͿ ĚĞĂŶŚĂƵŐΛLJĂŚŽŽĐŽŵ >ĞƐƚĞƌ,ĞŚƌ;&ŝŶĂŶĐĞͿ ůŵŚĞŚƌΛŵƐŶĐŽŵ DĂƌŐĞ:ĂŶƚnj;ŽŶŐƌĞŐĂƟŽŶĂů>ŝĨĞͿ ŵĂƌŐĞũĂŶƚnjΛŐŵĂŝůĐŽŵ ƌƵĐĞELJŵĂŶ;WƌŽƉĞƌƟĞƐͿ ƉĂŵŶLJŵĂŶΛLJĂŚŽŽĐŽŵ >ĂƌƌLJZƵĐĂƐ;&ŝŶĂŶĐĞͿ ĂŬƌƵŬƵƐϭΛŵƚĂŽŶůŝŶĞŶĞƚ ZĞŐtĂdž;DŝƐƐŝŽŶƐͿ ƌĞŐǁĂdžΛŐŵĂŝůĐŽŵ dƌĞĂƐƵƌĞƌ 'ĂƌLJůůŝƐ ůĞƌŬŽĨ^ĞƐƐŝŽŶ <ĂLJ^ǀĞĚũĂŶ

ĞĂĐŽŶWĂƌŝƐŚƐƐŝŐŶŵĞŶƚƐ

:ĂĐŬŝĞ^ŚŝŶŶ DŽĚĞƌĂƚŽƌ -Ž ŶŶĞŽůůŝƐ ƌ-ŽŽ ǀĞůLJŶZƵĐĂƐ;DĞĂůƐͿ ŽƉ-ƚ :ŝŵΘ<ĂƌĞŶDŽƌƉŚĞǁ ǀ-'ƌĞ <ĞŶΘ:ƵĚLJĂǀĞŶƉŽƌƚ;'ƵĞƐƚ^ĞƌǀŝĐĞƐͿ 'ƌŝ-:ĂĐ ĂƚŚůĞĞŶZĂīĞƌƚLJ;ǁĂƌĞŶĞƐƐͿ :ĂŚ->Ă <ŝƩLJĞƌƚŶĞƐƐ;&ƵŶĞƌĂůƐͿ >Ğ-DŽĚ DĂƌĐĞLJ,ŽŶŽĚĞů;DĞĂůƐͿ DŽĞ-WŝĐ ĞĞ>ĂŶĞ,ĞŝŶůĞ Wů-^ĐŚ ZĞŶĞĞ>ŽǀĞůů;ǁĂƌĞŶĞƐƐͿ ^Đů-dŚƵ :ŽŚŶΘDĂƌůĞŶĞ'ƌĞŶƚnjĞƌ;'ƵĞƐƚ^ĞƌǀŝĐĞƐͿ dŽǁ-

sŝƐŝŽŶ^ƚĂƚĞŵĞŶƚ ĞůŽŶŐƚŽ'ŽĚĂŶĚƚŽĞĂĐŚŽƚŚĞƌ

ĞůŝĞǀĞ'ŽĚƐǁŽƌĚ ĞŵŽƌĞůŝŬĞŚƌŝƐƚ

ƵŝůĚĂďĞƩĞƌĐŽŵŵƵŶŝƚLJ

&ŝƌƐƚWƌĞƐďLJƚĞƌŝĂŶŚƵƌĐŚŚĂƐĂzŽƵdƵďĞĐŚĂŶŶĞůŶŽǁǁŚĞƌĞǁŽƌƐŚŝƉƐĞƌǀŝĐĞƐĂƌĞ

ƉŽƐƚĞĚzŽƵĐĂŶĮŶĚƵƐďLJŐŽŝŶŐƚŽzŽƵdƵďĞĂŶĚƐƵďƐĐƌŝďŝŶŐƚŽĨƉĐĐŐ


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