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ƚŚĞďŽĂƌĚŶĞĞĚƐƚŽĚŽĂůĞŶŐƚŚLJƐĞĞŬĞƌ͘,ĞǁŽƵůĚůŝŬĞƚŽŚŽůĚĂƐƉĞĐŝĂůŵĞĞƚŝŶŐƚŽĨŝŶĂůŝnjĞƚŚĞ^YZĂŶĚƚŽŐŽŽǀĞƌƚŚĞƉƌŽƉŽƐĞĚ ƌĞĨĞƌĞŶĚƵŵ͘ƚƚŽƌŶĞLJ^ŶLJĚĞƌƐĂŝĚƚŚĂƚŚĞǁŝůůƉƌĞƉĂƌĞƚŚĞ^YZĂŶĚŚĞƐĂŝĚŝƚĐŽƵůĚďĞůĞŶŐƚŚLJ͘^ŶLJĚĞƌƐĂŝĚƚŚĂƚŝƚ͛ƐŶŽƚĂƚLJƉĞŽŶĞ ĂĐƚŝŽŶ͕ďƵƚƚŚĞLJŚĂǀĞƚŽŐŽƚŚƌŽƵŐŚƚŚĞƐŚŽƌƚĞŶǀŝƌŽŶŵĞŶƚĂƐƐĞƐƐŵĞŶƚĨŽƌŵ͘<ĂŵŝŶƐŬŝƐĂŝĚƚŚĂƚƚŚĞŝŶĨŽƌŵĂƚŝŽŶƐŚĞĞƚƚŚĂƚŚĞƉƌĞƉĂƌĞĚ ŝƐƚŽƚŚĞƉŽŝŶƚ͘,ĞĐŽŶƚĂĐƚĞĚƚŚĞŽŶĚƚƚŽƌŶĞLJĨŽƌƚŚĞƐĐŚŽŽůďŽŶĚƐĂŶĚƚŚĞďŽƚƚŽŵůŝŶĞŝŶƚŚĂƚƚŚĞ^EzďŽŶĚƐĂĨĨĞĐƚƚŚĞĚŝƐƚƌŝĐƚ ĂŶĚƚŚĞsŝƌŐŝůďƵŝůĚŝŶŐŝŶƵŶƚŝůϮϬϮϴ͘dŽǁŶĐĂŶŽŶůLJƵƐĞƚŚĞďƵŝůĚŝŶŐĨŽƌŶŽƌŵĂůƚŽǁŶďƵƐŝŶĞƐƐƵŶƚŝůƚŚĞďŽŶĚƐĂƌĞƉĂŝĚŽĨĨŝŶϮϬϮϴ͘dŚĞ ƚŽǁŶƐŚĂŶĚƐĂƌĞƚŝĞĚďĞĐĂƵƐĞŽĨƚŚĞďŽŶĚƐ͘dŚĞƚĂdžďƵƌĚĞŶŽĨƚŚĞďƵŝůĚŝŶŐŝƐΨϲϬ͕ϬϬϬ͘dŚĞǀĂůƵĞƐŽĨďŽƚŚďƵŝůĚŝŶŐƐ͕ƚŚĞĐƵƌƌĞŶƚƚŽǁŶ ŚĂůůĂŶĚƚŚĞƐĐŚŽŽůďƵŝůĚŝŶŐĂƌĞůŝƐƚĞĚ͘<ĂŵŝŶƐŬŝǁĂŶƚƐƚŚŝƐƚŽŐŽƚŽǀŽƚĞŝŶEŽǀĞŵďĞƌ͘ŽďƉƉůĞŐĂƚĞ͕ƐƚĂƚĞĚƚŚĂƚŚĞĨĞĞůƐƚŚĞƐĐŚŽŽů ďƵŝůĚŝŶŐŚĂƐŵŽƌĞĨůĞdžŝďŝůŝƚLJƚŚĂŶƚŚĞĐƵƌƌĞŶƚƚŽǁŶŚĂůů͘,ĞĨĞĞůƐŝƚ͛ƐŝŵƉŽƌƚĂŶƚƚŽůŝƐƚƚŚĞĂŵĞŶŝƚŝĞƐŽĨƚŚĞƐĐŚŽŽůŽŶƚŚĞŝŶĨŽƌŵĂƚŝŽŶ ƐŚĞĞƚ͘>ŽƌŝDĐ'ŝǀĞƌŶ͕ĂƐŬĞĚŝĨƚŚĞƐĐŚŽŽůůĞĨƚĂůŝƐƚŽĨŝƚĞŵƐƚŚĞLJǁĞƌĞůĞĂǀŝŶŐ͍<ĂŵŝŶƐŬŝƐĂŝĚƚŚĂƚƚŚĞŚŝƐƚŽƌŝĂŶĂŶĚƚŚĞĐůĞƌŬǁĞƌĞŝŶ ƚŚĞďƵŝůĚŝŶŐLJĞƐƚĞƌĚĂLJĂŶĚŝƚǁĂƐƉƌĞƚƚLJƐƚƌŝƉƉĞĚ͘dŚĞLJƐĂŝĚƚŚĞƚŽǁŶĐŽƵůĚƵƐĞƚŚĞĞůĞĐƚƌŽŶŝĐƐŝŐŶ͕ďƵƚƚŚĞLJƚŽŽŬƚŚĞĐŽŵƉƵƚĞƌƚŚĂƚ ƌƵŶƐŝƚ͘WĂƵů^ůŽǁĞLJƐĂŝĚƚŚĂƚŚĞŝƐĂůůĨŽƌƚŚĞƚŽǁŶĐŽŶƚƌŽůůŝŶŐƚŚĞƵƐĞŽĨƚŚĞďƵŝůĚŝŶŐ͕ďƵƚĂƐǁŚĂƚĐŽƐƚ͍dŚĞƐĐŚŽŽůĚŝƐƚƌŝĐƚǁĂŶƚƐƚŽ ĚƵŵƉƚŚĞŝƌůŝĂďŝůŝƚLJŽŶƵƐ͘,ĞĨĞĞůƐƚŚĂƚƚŚĞĚŝƐƚƌŝĐƚŝƐŶŽƚŐŽŝŶŐƚŽďĞĂďůĞƚŽƵŶůŽĂĚƚŚĞďƵŝůĚŝŶŐƚŚĂƚĞĂƐŝůLJ͘dŚĞƌĞĂƌĞŶŽďƵLJĞƌƐĨŽƌ ƚŚĞďƵŝůĚŝŶŐ͘^ůŽǁĞLJĨĞĞůƐƚŚĂƚƚŚĞďŽĂƌĚƐŚŽƵůĚďĞĚĞůŝďĞƌĂƚĞŽŶƚĂŬŝŶŐŝƚŽǀĞƌ͘/ĨƚŚĞƚŽǁŶƚĂŬĞƐŽǀĞƌƚŚĞďƵŝůĚŝŶŐ͕ƚŚĞĞŶƚŝƌĞĐŽƐƚŽĨ ƚŚĞƐĐŚŽŽůďƵŝůĚŝŶŐŝƐŐŽŝŶŐƚŽĨĂůůŽŶƚŚĞƚŽǁŶŝŶƐƚĞĂĚŽĨŽŶƚŚĞĞŶƚŝƌĞĚŝƐƚƌŝĐƚ͘dŚĞĚŝƐƚƌŝĐƚŝƐĂƌĞŐŽŝŶŐƚŽŚĂǀĞŵĂŝŶƚĂŝŶŝƚ͕ďĞĐĂƵƐĞ ƚŚĞLJŽǁŶŝƚ͘,ĞĚŽĞƐŶ͛ƚƐĞĞŚŽǁƚŚĞƚŽǁŶĐĂŶƚĂŬĞŝƚŽǀĞƌǁŝƚŚŽƵƚĂĚĞĨŝŶĞĚƵƐĞ͕ĐĂŶ͛ƚŽƉĞŶŝƚƵƉƚŽϱϬϯŶŽŶĨŽƌͲƉƌŽĨŝƚƐ͘^ůŽǁĞLJƐĂLJƐ ůĞƚƚŚĞŵŚĞůƉƉĂLJĨŽƌŝƚ͘ŽďƉƉůĞŐĂƚĞ͕ǁĂŶƚĞĚƚŽŬŶŽǁŝĨŝƚǁĂƐƉŽƐƐŝďůĞƚŚĂƚŝĨƚŚĞƌĞĨĞƌĞŶĚƵŵŝƐƉĂƐƐĞĚĂŶĚƚŚĞĐŝƚŝnjĞŶƐĚĞĐŝĚĞƚŽ ƚĂŬĞŽǀĞƌƚŚĞƐĐŚŽŽůďƵŝůĚŝŶŐ͕ƚŚĞŶƚŚĞƚŽǁŶǁŽƵůĚƐĞůůƚŚĞĐƵƌƌĞŶƚƚŽǁŶŚĂůů͍ƉƉůĞŐĂƚĞĨĞĞůƐƚŚĂƚƚŚĞŝŶĐŽŵĞĨŽƌƚŚĞƐĂůĞŽĨƚŚĞ ĐƵƌƌĞŶƚƚŽǁŶŚĂůůĐŽƵůĚďĞƵƐĞĚƚŽŚĞůƉƵƐŐĞƚŽǀĞƌƚŚĞŚƵŵƉǁŝƚŚƚŚĞƐĐŚŽŽůďƵŝůĚŝŶŐ͘DĞŵďĞƌ^ƚŝůĞƐƐĂŝĚƚŚĂƚƚŚĞƉƌŽďůĞŵƐƚŝůů ƌĞŵĂŝŶƐǁŝƚŚƚŚĞƌĞƐƚƌŝĐƚŝŽŶƐĂŶĚϵLJĞĂƌƐŽƵƚƵŶƚŝůƐŽŵĞƚŚŝŶŐŽƚŚĞƌƚŚĂŶƚŽǁŶƵƐĞĐĂŶďĞĚŽŶĞǁŝƚŚƚŚĞďƵŝůĚŝŶŐ͘dĞƌŝWĞůƚŽŶ͕ƐĂŝĚƚŚĂƚ ďĞĐĂƵƐĞŽĨƚŚĞƌĞƐƚƌŝĐƚŝŽŶŽŶŚŽǁƚŚĞƐĐŚŽŽůďƵŝůĚŝŶŐĐĂŶďĞƵƐĞĚ͕ŝƚƐĞĞŵƐƚŚĞŽŶůLJŽƉƚŝŽŶŝƐƚŽŵŽǀĞƚŚĞƚŽǁŶŽĨĨŝĐĞƐŽǀĞƌƚŚĞƌĞ͘ ^ŚĞĨĞĞůƐŝƚǁŽƵůĚďĞƉƌƵĚĞŶƚƚŽƉƵƚƚŚĞĐƵƌƌĞŶƚƚŽǁŶŚĂůůŽŶƚŚĞŵĂƌŬĞƚŝŵŵĞĚŝĂƚĞůLJƚŽƐĞĞŝĨƚŚĞƌĞŝƐĂŶLJŝŶƚĞƌĞƐƚĨŽƌƐŽŵĞŽŶĞƚŽ ďƵLJŝƚ͘<ĂŵŝŶƐŬŝƐĂŝĚƚŚĞLJĐŽƵůĚŐĞƚĂƌĞĂůƚŽƌƚŽĐŽŵĞŝŶŚĞƌĞĂŶĚƚĞůůƚŚĞŵƚŚĞLJĐĂŶƐĞůůƚŚĞďƵŝůĚŝŶŐ͕ďƵƚŝƚǁŽƵůĚŶ͛ƚŵĂŬĞƐĞŶƐĞŝĨƚŚĞ ƚŽǁŶŚĂƐŶ͛ƚŚĂĚƚŚĞǀŽƚĞƚŽƚĂŬĞƚŚĞďƵŝůĚŝŶŐŽǀĞƌ͘DĐ'ŝǀĞƌŶĂƐŬĞĚŝĨƚŚĞƚŽǁŶŚĂƐŚŝƌĞĚĂ^EzĂƉƉƌŽǀĞĚĂƉƉƌĂŝƐĞƌĂƐƚŚĞĚŽƌŵŝƚŽƌLJ ĂƵƚŚŽƌŝƚLJŚĂƐƐƵŐŐĞƐƚĞĚ͘<ĂŵŝŶƐŬŝƐĂŝĚƚŚĂƚƚŚĞLJƐĂŝĚĂƐůŽŶŐĂƐƚŚĞĂƉƉƌĂŝƐĞƌŝƐĐĞƌƚŝĨŝĞĚƚŚĞLJĐĂŶĚŽƚŚĞĂƉƉƌĂŝƐĂů͘^ĐŽŽƚůƐƚŽŶ͕ƚŚĞ ƚŽǁŶũƵĚŐĞ͕ƚŚĂŶŬĞĚƚŚĞďŽĂƌĚĨŽƌƚŚĞŽƉĞŶĚŝƐĐƵƐƐŝŽŶ͕ŚĞƐĂŝĚƚŚĂƚƚŚĞďŽĂƌĚĚŽĞƐŶ͛ƚŚĂǀĞƚŽĚŽƚŚĂƚ͘ůƐƚŽŶǁĂŶƚĞĚƚŽŬŶŽǁŝĨĂ ƌĞĨĞƌĞŶĚƵŵƌĞƋƵŝƌĞĚ͍ŽĞƐƚŚĞǁŚŽůĞƚŽǁŶŚĂǀĞƚŽǀŽƚĞŽŶƚŚŝƐŵĂƚƚĞƌ͍ƚƚŽƌŶĞLJ^ŶLJĚĞƌƐĂŝĚƚŚĂƚƵŶĚĞƌEĞǁzŽƌŬ^ƚĂƚĞůĂǁƚŚŝƐ ŝƚĞŵŝƐƐƵďũĞĐƚƚŽĂƉĞƌŵŝƐƐŝǀĞƌĞĨĞƌĞŶĚƵŵ͘,ĞƐĂŝĚƚŚĂƚŝĨĞŶŽƵŐŚƉĞŽƉůĞƐŝŐŶĞĚĂƉĞƚŝƚŝŽŶ͕ŝƚĐĂŶŐŽƚŽĂƌĞĨĞƌĞŶĚƵŵ͘hŶĚĞƌƚŚĞEz^ ůĂǁĂƚŽǁŶďŽĂƌĚĐĂŶƐŬŝƉƚŚĞƉĞƚŝƚŝŽŶƉĂƌƚĂŶĚŐŽĚŝƌĞĐƚůLJƚŽĂƌĞĨĞƌĞŶĚƵŵ͘ůƐƚŽŶƚŚĞŶƐĂŝĚ͕ƐŽĂƌĞĨĞƌĞŶĚƵŵŝƐŶŽƚƌĞƋƵŝƌĞĚ͕ƵŶůĞƐƐ ƚŚĞƚŽǁŶƐƉĞŽƉůĞŐĞƚĂƐŝŐŶĞĚƉĞƚŝƚŝŽŶ͘ůƐƚŽŶƐĂŝĚƚŚĂƚŚĞĨĞůƚƚŚĂƚŵŽǀŝŶŐƚŚĞƚŽǁŶŽĨĨŝĐĞƐƚŽƚŚĞƐĐŚŽŽůďƵŝůĚŝŶŐ͕ǁŝůůďĞĂŚƵŐĞ ůŝĂďŝůŝƚLJ͘,ĞƐĂŝĚƚŚĂƚƚŚĞƚŽǁŶŝƐŶŽƚŐŽŝŶŐƚŽŐĞƚĂǁĂLJǁŝƚŚũƵƐƚΨϲϬ͕ϬϬϬĂLJĞĂƌŝŶŵĂŝŶƚĞŶĂŶĐĞĐŽƐƚƐ͘ůƐƚŽŶǁĞŶƚŽŶƚŽƐĂLJƚŚĂƚƚŚĞ ďƵŝůĚŝŶŐŝƐŐŽŝŶŐƚŽĚŝƐŝŶƚĞŐƌĂƚĞŽǀĞƌƚŝŵĞ͘,ĞĚŽĞƐŶ͛ƚŬŶŽǁŚŽǁĂďŽĂƌĚŵĞŵďĞƌĐĂŶǀŽƚĞŝŶĨĂǀŽƌŽĨŐŽŝŶŐƚŽĂƌĞĨĞƌĞŶĚƵŵĨŽƌĂŶ ĞŵŽƚŝŽŶĂůůLJĐŚĂƌŐĞĚƐƵďũĞĐƚ͘ůƐƚŽŶĨĞĞůƐƚŚĂƚŝĨƚŚĞƚŽǁŶǁĂŶƚƐĂƌĞĨĞƌĞŶĚƵŵ͕ƵƐŝŶŐƚŚĞƉĞƚŝƚŝŽŶƉƌŽĐĞƐƐ͕ƚŚĞŶƉƵƚŝƚŽŶƚŚĞďĂůůŽƚ͘ dŽǁŶůĞƌŬsĂŶŽŶƐĞůĂƐŬĞĚ^ƵƉĞƌǀŝƐŽƌ<ĂŵŝŶƐŬŝŝĨŚĞĐŽƵůĚĂĚĚƚŚĞĐŽƐƚƐƚŚĂƚŝƚǁŝůůƚĂŬĞƚŽŵŽǀĞƚŚĞƚŽǁŶŚĂůůĂŶĚƚŚĞĐŽƵƌƚŽǀĞƌ ƚŽƚŚĞƐĐŚŽŽů͘^ĂŶĚLJWƌŝĐĞƐĂŝĚƚŚĂƚƚŚĞƌĞĂƌĞŐƌĂŶƚƐĂǀĂŝůĂďůĞĨŽƌƚŚĞĐŽƵƌƚĂŶĚĨŽƌƚŚĞǀĂƵůƚƐ͘^ŚĞŝƐŶŽƚƐƵƌĞŚŽǁŵƵĐŚŝƐĂǀĂŝůĂďůĞ͘ <ĂŵŝŶƐŬŝƐĂŝĚŚĞǁŽƵůĚůŝŬĞƚŽĂƐŬƚŚĞďŽĂƌĚƚŽŵŽǀĞĨŽƌǁĂƌĚŽŶŐŽŝŶŐƚŽĂƌĞĨĞƌĞŶĚƵŵĨŽƌƚŚĞƚŽǁŶƚŽĂĐƋƵŝƌĞƚŚĞďƵŝůĚŝŶŐ͘DĞŵďĞƌ WĞůƚŽŶƐĂŝĚŚĞǁŽƵůĚůŝŬĞƚŽŵŽǀĞĂŚĞĂĚ͕ďƵƚŚĞĨĞĞůƐŚĞŶĞĞĚƐŵŽƌĞŝŶĨŽƌŵĂƚŝŽŶ͘<ĂŵŝŶƐŬŝƐĂŝĚŚĞǁŽƵůĚůŝŬĞƚŽŚŽůĚĂƐƉĞĐŝĂů ŵĞĞƚŝŶŐ͘ƵŐϭƐƚ͘ϲ͗ϬϬWD͕ǁŝƚŚƚŚĞƉƵƌƉŽƐĞŽĨƚŚĞŵĞĞƚŝŶŐďĞŝŶŐƚŽĚŝƐĐƵƐƐƚŚĞƐĐŚŽŽůďƵŝůĚŝŶŐĂŶĚƚŽĐŽŶƐŝĚĞƌǀŽƚŝŶŐŽŶĂƌĞƐŽůƵƚŝŽŶ͘ <ĂŵŝŶƐŬŝǁŽƵůĚůŝŬĞƚŽƉƌŽĐĞĞĚǁŝƚŚĂĐƋƵŝƌŝŶŐŽĨƚŚĞďƵŝůĚŝŶŐƵŶĚĞƌĂƌĞĨĞƌĞŶĚƵŵ͘ůƐƚŽŶĂƐŬĞĚŝĨƚŚĞƚŽǁŶǀŽƚĞƐƚŽďƵLJƚŚĞďƵŝůĚŝŶŐ͕ ĐĂŶŝƚďĞƌĞĐĂůůĞĚ͕ŝĨŵŽƌĞŝŶĨŽƌŵĂƚŝŽŶĐŽŵĞƐƚŽůŝŐŚƚ͍ůƐƚŽŶŝƐĐŽŶĐĞƌŶĞĚƚŚĂƚƚŚĞĐŽŵŵƵŶŝƚLJŵĂLJďĞŚĂŶĚĐƵĨĨĞĚƚŚĂƚŝƚŵŝŐŚƚŶŽƚ ďĞĂďůĞƚŽďĞĂƌ͘ůƐƚŽŶǁĂŶƚĞĚƚŽŬŶŽǁŝĨƚŚĞďŽĂƌĚĐĂŶŚĂǀĞĂƉƵďůŝĐŚĞĂƌŝŶŐĂŶĚŚĂǀĞƚŚĞĚƵůLJĞůĞĐƚĞĚďŽĂƌĚǀŽƚĞŽŶƚŚŝƐŵĂƚƚĞƌ͘,Ğ ϯͮW Ă Ő Ğ ƐĂŝĚƚŚĂƚĚĂLJĐĂƌĞƵƐĞĚƚŽďĞĂƚŽǁŶĨƵŶĐƚŝŽŶ͘^ĞǀĞƌĂůŽĨƚŚĞŝƚĞŵƐĐĂŶďĞĚŽŶĞ͕ƐƵĐŚĂƐĂŵƵƐĞƵŵĂŶĚĂůŝďƌĂƌLJ͘dŚĞƐĞŝƚĞŵƐƐŚŽƵůĚ ďĞĞdžƉůŽƌĞĚ͘DĞŵďĞƌ^ƚŝůĞƐƐĂŝĚƚŚĂƚƚŚĞƌĞĂƌĞƐŽŵĞŝƚĞŵƐŽŶƚŚĞůŝƐƚƚŚĂƚĐĂŶďĞĚŽŶĞ͕ŚĞǁŽƵůĚůŝŬĞƚŽŚĂǀĞĂůŝƐƚŽĨǁŚĂƚĐĂŶŚĂƉƉĞŶ͘ ,ĞĨĞĞůƐŐŽŝŶŐƚŽǀŽƚĞŝƐƉƌĞŵĂƚƵƌĞ͘^ƚŝůĞƐĨĞĞůƐŝĨƚŚĞLJŚĂǀĞĂŵŽƌĞƚĂŶŐŝďůĞůŝƐƚ͕ƚŚĞLJǁŽƵůĚďĞĂďůĞƚŽŚĂǀĞĂĚŝƐĐƵƐƐŝŽŶ͘^ĂŶĚLJWƌŝĐĞ ƐĂŝĚƚŚĂƚǁŚĞŶƚŚĞĐŽŵŵŝƚƚĞĞĚĞǀĞůŽƉĞĚƚŚĞůŝƐƚ͕ƚŚĞLJĚŝĚŶ͛ƚŬŶŽǁĂďŽƵƚƚŚĞ^EzďŽŶĚƐƚŝƉƵůĂƚŝŽŶƐ͘^ƚŝůĞƐƐĂŝĚƚŚĂƚŚĞŚĂƚĞƐ ƉƌĞƐĞŶƚŝŶŐƐŽŵĞƚŚŝŶŐǁŝƚŚŽƵƚŚĂǀŝŶŐĂůůƚŚĞŝŶĨŽƌŵĂƚŝŽŶ͘DĞŐŝǀĞƌŶƐĂŝĚƚŚĂƚŝƚ͛ƐŶŽƚĨĂŝƌŽĨƚŚĞƐĐŚŽŽůĚŝƐƚƌŝĐƚƚŽĂůůŽǁďŽƚŚƚŚĞƐĞ ĐŽŵŵƵŶŝƚŝĞƐƚŽŵŽǀĞĨŽƌǁĂƌĚǁŝƚŚŽƵƚĂůůƚŚĞĨĂĐƚƐ͘^LJůǀŝĂŽŽŬƐĂŝĚƚŚĞLJŶĞĞĚƚŽƐĞĞƚŚĞǁƌŝƚƚĞŶŽƉŝŶŝŽŶŽĨƚŚĞďŽŶĚůĂǁLJĞƌ͘^ŚĞƐĂŝĚ ƐŚĞǁĂƐƉĂƌƚŽĨĂĐŽŶĨĞƌĞŶĐĞĐĂůů͘^ŚĞƐĂŝĚƚŚĞƌĞŵĂLJďĞŽƚŚĞƌŽƉƚŝŽŶƐ͕ďƵƚƚŚĞLJŶĞĞĚƚŽǁĂŝƚĨŽƌƚŚĞǁƌŝƚƚĞŶŽƉŝŶŝŽŶĂŶĚƚŚĞLJŶĞĞĚƚŽ ŐĞƚĂ^EzĂƉƉƌŽǀĞĚĂƉƉƌĂŝƐĞƌƚŽĂƉƉƌĂŝƐĞƚŚĞďƵŝůĚŝŶŐƵƐŝŶŐƚŚĞĐŽŵƉŵĞƚŚŽĚ͘^ŚĞƐĂŝĚƚŚĞƌĞŵĂLJďĞĂŶŽƚŚĞƌŽƉƚŝŽŶ͘dŚĞƚŽǁŶ ŵŝŐŚƚďĞĂďůĞƚŽďƵLJƚŚĞďƵŝůĚŝŶŐǁŝƚŚĂŶĂƌŵůĞŶŐƚŚƚƌĂŶƐĂĐƚŝŽŶ͘^ŚĞƚŚŝŶŬƐƚŚĞƐĐŚŽŽůŵŝŐŚƚďĞĂďůĞƚŽƉƵƚƚŚĞďƵŝůĚŝŶŐƵƐŝŶŐĐŽŵƉƐ͕ ǁŚŝĐŚƚŚĞŽŶůLJĐŽŵƉŝƐƚŚĞdƌƵdžƚŽŶƐĐŚŽŽůǁŚŝĐŚƐŽůĚĨŽƌΨϱϬ͕ϬϬϬ͘^ŚĞĨĞĞůƐŝĨƚŚŝƐŚĂƉƉĞŶƐƚŚĞƌĞǁŽƵůĚďĞŶŽŵŽƌĞƌĞƐƚƌŝĐƚŝŽŶƐŽŶ ƚŚĞďƵŝůĚŝŶŐ͘^ŚĞĨĞĞůƐƚŚĞLJĐĂŶƚŚĞŶůĞƚŝŶϱϬϭϯĐĂŶĚĐŽŵŵĞƌĐŝĂůƉƌŽƉĞƌƚLJŝŶĨƌŽŵƚŚĞŐĞƚŐŽ͘ŽŽŬƐĂŝĚŶŽŽŶĞǁĂŶƚƐƚŽƉƵƚƚŚĞ ďƵƌĚĞŶŽŶƚŚĞƚĂdžƉĂLJĞƌƐ͘^ŚĞĨĞĞůƐƚŚĞƐĐŚŽŽůǁŽƵůĚŐŝǀĞƚŚĞƚŽǁŶŚĂůůƌŽŽŵƚŽŐƌŽǁŝŶƚŚĞĨƵƚƵƌĞ͘ŽŽŬƐƐĂŝĚƚŚĂƚĂƌĞǁĂLJƐƚŽŐĞƚ ŐƌĂŶƚƐĂŶĚƚŚĞƌĞĂƌĞƌĞǀĞŶƵĞƉƌŽĚƵĐŝŶŐĞŶƚŝƚŝĞƐ͘KŶĞŝƐĂƐĞŶŝŽƌĐŝƚŝnjĞŶĐŽŵŵƵŶŝƚLJĐĞŶƚĞƌ͘^ŚĞƚŚŝŶŬƐǁĞĐĂŶŚĂǀĞĂůŽĐĂůŐŽǀĞƌŶŵĞŶƚ ĞĨĨŝĐŝĞŶĐLJƉƌŽŐƌĂŵ͕ǁŝƚŚ,ĂƌĨŽƌĚĂŶĚ>ĂƉĞĞƌ͘ŶŽƚŚĞƌŽƉƚŝŽŶŝƐƚŽƵƐĞƚŚĞďƵŝůĚŝŶŐĨŽƌŐŽǀĞƌŶŵĞŶƚŽĨĨŝĐĞƐĂŶĚƵƐĞϭϬйŽĨƚŚĞďƵŝůĚŝŶŐ ĨŽƌŶŽŶƉƌŽĨŝƚƐ͘DĞŵďĞƌWĞůƚŽŶƐĂŝĚƚŚĂƚsŝƌŐŝůĐĂŶ͛ƚĐŽŵƉĂƌĞŽƵƌƐĞůǀĞƐƚŽdƌƵdžƚŽŶďĞĐĂƵƐĞƚŚĞΨϱϭ͕ϬϬϬĐĂŵĞĨƌŽŵĂůŽĐĂůƉĞƌƐŽŶĂŶĚ ŝƚǁĂƐĂĚŝĨĨŝĐƵůƚƚƌĂŶƐĂĐƚŝŽŶ͘:ŽŚŶDŽƌƐĞƐĂŝĚŝƚŐŽŝŶŐƚŽƚĂŬĞĂůŽƚůŽŶŐĞƌƚŚĂŶEŽǀĞŵďĞƌƚŽĨŝŐƵƌĞƚŚŝƐĂůůŽƵƚ͘,ĞƐĂŝĚƚŚĂƚƚŚĞƌĞŝƐ ĂƐďĞƐƚŽƐŝŶƚŚĞďƵŝůĚŝŶŐ͘,ĞƐĂŝĚƚŚĞďƵŝůĚŝŶŐŝƐŐŽŝŶŐƚŽŶĞĞĚƚŽďĞŚĞĂƚĞĚĂŶĚŵĂŝŶƚĂŝŶĞĚ͘,ĞƐĂŝĚŝĨƚŚĞƚŽǁŶƚĂŬĞƐŽǀĞƌƚŚĞďƵŝůĚŝŶŐ͕ ǁĞǁŝůůŶĞĞĚĂĨƵůůͲƚŝŵĞƉĞƌƐŽŶƚŽŵĂŝŶƚĂŝŶŝƚ͘,ĞƐĂŝĚƚŚĂƚƚŚĞƚŽǁŶŶĞĞĚƐƚŽŬŶŽǁǁŚĂƚǁĞĂƌĞďƵLJŝŶŐ͘^ƵƉĞƌǀŝƐŽƌ<ĂŵŝŶƐŬŝĂƐŬĞĚ ŚŽǁĚŽĞƐƚŚĞďŽĂƌĚǁĂŶƚƚŽƉƌŽĐĞĞĚ͘<ĂŵŝŶƐŬŝǁŽƵůĚůŝŬĞƚŽŚĂǀĞĂůůƚŚĞĨĂĐƚƐŝŶǁƌŝƚŝŶŐďĞĨŽƌĞǁĞŵŽǀĞĨŽƌǁĂƌĚ͘DĞŵďĞƌĞŶŶŝƐƚŽŶ ŵĞŶƚŝŽŶĞĚƐĐŚĞĚƵůŝŶŐĂƐƉĞĐŝĂůŵĞĞƚŝŶŐ͘,ĞƐĂŝĚƚŚĂƚƚŚĞLJƐŚŽƵůĚŚĂǀĞDĂƚƚtĞůůƐŽƉŝŶŝŽŶŝŶĂĨĞǁĚĂLJƐ͘,ĞĨĞĞůƐĂƚƚŚĂƚƉŽŝŶƚŝƚǁŽƵůĚ ďĞŵƵĐŚĞĂƐŝĞƌƚŽŵŽǀĞĨŽƌǁĂƌĚ͘<ĂŵŝŶƐŬŝƐĂŝĚƚŚĂƚƚŚĞƌĞƐŽůƵƚŝŽŶŚĂƐƚŽďĞƚŽƚŚĞďŽĂƌĚŽĨĞůĞĐƚŝŽŶƐďLJƵŐ͘ϱƚŚ͘ĞŶŶŝƐƚŽŶƐĂŝĚƚŚĂƚ ŝƚǁŽƵůĚďĞŚŝƐƉƌĞĨĞƌĞŶĐĞƚŽŚŽůĚĂƐƉĞĐŝĂůĞůĞĐƚŝŽŶ͘ůƐƚŽŶƐĂŝĚƚŚĂƚƚŚĞƚŽǁŶĐĂŶŚĂǀĞĂƉĞƌŵŝƐƐŝǀĞƌĞĨĞƌĞŶĚƵŵĂƚĂŶLJƚŝŵĞ͘,ĞƐĂŝĚ LJŽƵŵŝŐŚƚŚĂǀĞĂϭϱϬƉĞŽƉůĞĞĚƵĐĂƚĞĚŽŶƚŚĞŵĂƚƚĞƌǀŽƚĞ͘,ĞĨĞĞůƐƚŚĂƚƚŚĞďŽĂƌĚŝƐŵŝƐůĞĂĚŝŶŐƚŚĞƉĞŽƉůĞŝĨƚŚĞLJŵŽǀĞĨŽƌǁĂƌĚ͘ <ĂŵŝŶƐŬŝƐĂŝĚŚĞĚŽĞƐŶ͛ƚŵŝƐůĞĂĚƉĞŽƉůĞ͘DĞŐŝǀĞƌŶƐĂŝĚƚŚĂƚĨŝǀĞĞĚƵĐĂƚĞĚƉĞŽƉůĞǀŽƚĞĚƚŽĐůŽƐĞƚŚĞďƵŝůĚŝŶŐ͘YƵĂĐŬĞŶďƵƐŚƐĂŝĚƚŚĂƚ ƚŚĞƉĞŽƉůĞŶĞĞĚŵŽƌĞƚŝŵĞƚŽŐĞƚŵŽƌĞĨĂĐƚƐ͘ĂƌŽůĞZĞŚƵŐůĞƌƐĂŝĚƐŚĞŝƐǀĞƌLJŝŶƚĞƌĞƐƚĞĚŝŶǁŚĂƚ͛ƐŐŽŝŶŐŽŶĂŶĚǁŚĂƚƚŚĞŶĞdžƚƐƚĞƉŝƐ͘ ^ŚĞĨĞĞůƐƚŚĂƚŝƚǁŽƵůĚďĞƉƌƵĚĞŶƚƚŽŐĞƚƚŚĞŝŶĨŽƌŵĂƚŝŽŶ͕ĨƌŽŵDĂƚƚtĞůůƐĂŶĚƚŚĞŶŝŶϳĚĂLJƐĐĂůůĂǁŽƌŬƐŚŽƉ͘dŚĞŶŵŽǀĞĨŽƌǁĂƌĚ ĨƌŽŵƚŚĞƌĞ͘<ĂŵŝŶƐŬŝĂƐŬĞĚĂŐĂŝŶŚŽǁƚŚĞďŽĂƌĚǁĂŶƚĞĚƚŽƉƌŽĐĞĞĚ͘WĞůƚŽŶƐĂŝĚƚŚĂƚŚĞǁĂŶƚĞĚƚŽŐĞƚŵŽƌĞĨĂĐƚƐĂŶĚƐĐŚĞĚƵůĞĂ ƐƉĞĐŝĂůĞůĞĐƚŝŽŶŝŶƚŚĞĨƵƚƵƌĞ͘^ƚŝůĞƐǁĂŶƚƐƚŚĞŝŶĨŽƌŵĂƚŝŽŶƚŽƌĞǀŝĞǁ͘^ŶŽǁƚŚŝŶŬƐŝƚ͛ƐĂŐŽŽĚŝĚĞĂƚŽǁĂŝƚ͘<ĂŵŝŶƐŬŝƐĂŝĚƚŚĞŝƚĞŵŝƐ ĚĞĂĚĂƚƚŚŝƐŵĞĞƚŝŶŐ͘ KEd/Eh/^h^^/KEKEtKZ<Z^KDWE^d/KE͗:ĞƌĞŵĞLJŽLJůĂŶĚĨƌŽŵĂŝůĞLJWůĂĐĞ/ŶƐƵƌĂŶĐĞƉƌĞƐĞŶƚĞĚƚŽƚŚĞďŽĂƌĚ͘ 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