Board of Trustees Orientation Manual 2022 by HealthFoundation

Board of Trustees Policies and Procedures 2022-23

TABLE OF CONTENTS

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SECTION 1: BASIS OF THE FOUNDATION

MISSION, VISION & GUIDING PRINCIPLES STRATEGIC PLAN – THEORY OF CHANGE ,/^dKZz d '> E Ks Zs/ t K& W,/> Ed,ZKW/ d ZD^ OUR COMMITMENT TO RACIAL AND SOCIOECONOMIC HEALTH EQUITY dZh^dͲ ^ W,/> Ed,ZKWz Ks Zs/ t HISTORY REPORT Ks Zs/ t K& K Z ^ Zs/ ϮϬϮϮ ĂŶĚ ϮϬϮϯ K Z D d/E' d ^

SECTION 2: PROGRAM PRIORITIES, POLICIES, AND PROCEDURES GRANTMAKING PROCEDURES REGIONAL ALLOCATION POLICY SECTION ϯ: BYLAWS SECTION 4: BOARD OF TRUSTEES

ROLES AND RESPONSIBILITIES ATTENDANCE COMPENSATION TRUSTEE RECRUITMENT & NOMINATION EXPENSE REIMBURSEMENT

SECTION 5: COMMITTEE ROLES AND RESPONSIBILITIES ROLE OF THE COMMITTEE CHAIR EXECUTIVE FINANCE AND OPERATIONS INVESTMENT AUDIT COMMUNITY IMPACT GOVERNANCE ROLE OF THE PRESIDENT SECTION 6: OPERATING POLICIES AND PROCEDURES SECTION 7: HEALTH FOUNDATION TRUSTEES AND OFFICERS TRUSTEES AND OFFICERS BIOS COMMITTEE ASSIGNMENTS E dZh^d Z > d/KE D dZ/y SECTION 8: HEALTH FOUNDATION STAFF HEALTH FOUNDATION STAFF BIOS ORGANIZATIONAL CHART SECTION 9: CURRENT OPERATIONS CURRENT OPERATING BUDGET 2021 AUDIT 990-PF

Mission To improve the health and health care of the people and communities of western and central New York.

About Vision Us

A healthy central and western New York where racial and socioeconomic equity are prioritized so all people can reach their full potential and achieve equitable health outcomes.

Guiding Principles Eight principles guide the Health Foundation’s work: Health is a state of complete physical, mental and social well-being and not merely the absence of disease or infirmity* Our commitment is to the most vulnerable and to those in poverty, with an emphasis on children and older adults Our work is focused on interventions that target the individuals and communities in need throughout the 16 counties in western and central New York We are part of a community, contributing our efforts in partnership with others, responding to urgent community needs as they arise and disseminating what we’ve learned to others We utilize innovative and creative approaches to optimize outcomes We emphasize a rigorous, data-driven approach that ensures we thoroughly explore opportunities before investing deeply in them, and that we continue to measure the impact of those investments We invest in practical progress through improvement and fostering sustainability

continuous

learning,

quality

We support strong and effective advocacy and policy change that benefit our target populations *Preamble to the Constitution of the World Health Organization

An Overview of Philanthropic Terms What is a foundation? The Council on Foundations defines a foundation as an entity that supports charitable activities by making grants to unrelated organizations or institutions or to individuals for scientific, educational, cultural, religious, or other charitable About purposes. While foundations are often primarily engaged in grantmaking Us some may engage in their own direct charitable activities or programs. activities, The IRS classifies all 501(c)(3) organizations into two distinct types: private foundations and public charities. What is a private foundation? Private foundations are generally financially supported by one or a small handful of sources—an individual, a family, or a corporation. There are a few different kinds of private foundations: independent, family, and corporate. These categories are not legally defined. Rather, they are commonly used in the field of philanthropy to distinguish the different kinds of private foundations. Private foundations are required by the IRS to make charitable distributions of 5 percent of their asset base annually, and may spend at slightly higher levels in some years. What is a health conversion foundation? The Health Foundation for Western & Central New York is an example of a private health conversion foundation. Health conversion foundations are formed when a nonprofit hospital, health care system or health plan is either acquired by a forprofit firm or converted to for-profit status. The proceeds from these transactions are transferred into the endowment of a foundation that maintains the general mission of the entity which was sold (that is, improving or advancing the health of the population served by the entity). Where can I learn more? In 2021, Grantmakers in Health released a comprehensive report on the state of health conversion foundations in the U.S. You can read an overview of the report here.

Theory of Change Our theory of change describes how we plan to pursue our vision and goals and make an impact on the communities we serve through various strategic approaches. The Health Foundation’s key focus areas will continue to be young children impacted by poverty, older adults, and community health capacity.

Vision A healthy central and western New York where racial and socioeconomic equity are prioritized so all people can reach their full potential and achieve equitable health outcomes.

Strategic Approaches J Build on existing work in social-emotional learning and trauma-informed care for children

J Develop and support new eﬀorts to promote trauma-informed care for older adults

J Support existing and new initiatives in understanding and preventing adverse childhood experiences

J Explore and expand eﬀorts to reduce

Strategic Approaches J Support cross-sector collaboration and convenings that help health systems recognize the value of CBO partnerships and social needs integration

J Continue and expand eﬀorts to improve capacity and sustainability of CBOs

J Advocate for and continue partnering on initiatives to make communities livable and age-friendly at the state and local levels

Strategic Approaches J Continue to advocate for universal health care and access to quality health care

J Support and explore deeper role in addressing health system implicit bias, racial discrimination and knowledge gaps that lead to inequitable health outcomes, especially for mothers of color

J Build capacity for and expand access to support for family caregivers

social isolation and depression in older adults and their caregivers

Mid-Term Goals J Communities are equipped to deliver trauma-informed practices and invested in preventing trauma

J Children have access to high-quality, social emotional learning support

J Social isolation and related behavioral

Mid-Term Goals J Community-based organizations are ﬁnancially sustainable, strong and working collaboratively with health and other systems

J Communities and health systems are working collaboratively to become age-friendly

health issues among older adults and caregivers are addressed

Mid-Term Goals J Equitable care and insurance are available and accessible for all people

J All mothers are served by trusted, unbiased, high-quality infant and maternal health care

J Family caregivers of older adults are valued and supported

Long-Term Goals

Individual well-being is promoted and addressed for both children and older adults

Community-based organizations and health systems are collaborative and sustainable

Racial and socioeconomic equity are prioritized and all people are served by trusted, unbiased, high-quality care

History at a Glance The Early Years 1975 Health Care Plan founded, serving members of western New York 1978 Health Services Medical Corporation (PHP) founded, serving members in central New York 1998 Health Care Plan and Health Services Medical Corporation merge to become Univera Health Plan

Founded in 2002 as the Community Health Foundation of Western and Central New York, we awarded our first grants in April 2004. Since that time, we have awarded grants totaling more than $50 million to fund programs in 16 counties in western and central New York. We focus our funding on programs that improve health outcomes for underserved populations in our regions – older adults and children birth to age five who are impacted by poverty -- and community health capacity.

2009

Board and staff examined the investments the foundation made and the impact those investments had. As a result, we sharpened our focus on children and elders and refined our visions for both populations. We also formally developed a third focus area – Building Community Health Capacity.

2009 - 2013

2001 Univera Health Plan merges into Excellus, a Blue Cross/Blue Shield plan based in Rochester

Program Highlights: CHOMPERS! The Right Start Geriatric Workforce Initiative Step Up To Stop Falls Maternal and Child Health Midwifery Federally Qualified Health Center Booster Project Fellows Action Network

October 2001 Community Health Foundation of Western & Central New York is founded with an eventual endowment of approximately $100 million 2003 Foundation begins operations with offices in Buffalo and Syracuse Board of Trustees; hires Ann F. Monroe as Foundation’s first president

2014 Strategic Sharpening We reaffirmed our commitment to our three focus areas, developed a set of eight principles that guide our work, and refined our visions in each focus area.

2017 Nora OBrien-Suric, Ph.D. hired as second president. More employees were welcomed aboard, resulting in a widely successful company expansion - one that would reach international clients and bring forth bigger projects such as housing units, shopping malls, and even four-star resorts.

The Health Foundation committed to a new advocacy agenda that includes advocating for universal health coverage for all New Yorkers by 2027.

2020 and Forward In 2020, the Health Foundation embarked on its next strategic plan, refining and refocusing its vision areas and objectives to meet the evolving health care needs of the community. The Foundation’s vision is: A healthy central and western New York where racial and socioeconomic equity are prioritized so all people can reach their full potential and achieve equitable health outcomes.

Our Commitment to Racial and Socioeconomic Health Equity About Us

Racial and socioeconomic health disparities are the result of unfair and inequitable systems of power that have existed since our country’s founding. We have a collective moral imperative to do all we can to dismantle these barriers to good health. The health inequities experienced by communities of color and low-income populations across western and central New York are clear and, in some cases, increasing over time. The Health Foundation committed to improving regional health outcomes with a speciﬁc focus on these populations in 2020. We approach this work with a sense of humility and acknowledging that we have a great amount to learn from community leaders in these areas. This work requires a long-term and rigorous commitment to examining and evolving our organizational policies, practices, and behaviors based on the principles of racial and socioeconomic equity and trust-based philanthropy, an approach to grantmaking that recognizes and mitigates historical power imbalances. In this ongoing journey of learning and improvement, our efforts also include engaging with, listening to, and learning from experts and leaders in racial and socioeconomic health equity; proactively building new relationships with grassroots organizations who have previously not had access to philanthropic partnerships; and using our platform to advocate for positive change and challenge policies that uphold unfair systems.

TRUST-BASED PHILANTHROPY IN 4D USING TRUST-BASED VALUES TO GUIDE YOUR PHILANTHROPY’S

CULTURE, STRUCTURES, LEADERSHIP, & PRACTICES Trust-based philanthropy flips the script on traditional philanthropy. With a core set of values rooted in advancing equity, shifting power, and building mutually accountable relationships, trust-based philanthropy seeks to demonstrate humility and collaboration in what we do and how we show up in all aspects of our work as grantmakers. While trust-based philanthropy tends to be associated with a set of six grantmaking practices, a fully trustbased approach invites practitioners to rely on trust-based values to guide four key dimensions of a grantmaking organization’s work: culture, structures, leadership, and practices.

VALUES

(n., pl.)

CULTURE

STRUCTURES

Your organization’s general way of being

Hierarchies, systems, protocols, policies, & technologies

VALUES

What you do & how you show up as a grantmaker

The ability to inspire and align around shared values

PRACTICES

LEADERSHIP

The fundamental beliefs that drive your organization’s attitudes, priorities, and actions.

HOW TO USE THIS GUIDE: This guide is intended for grantmaking practitioners who are ready to live into their values to cultivate trust-based philanthropy holistically, across the four dimensions of this work: culture, structures, leadership, and grantmaking practices. Use it as a discussion and reflection tool to bolster your strategic planning, self-evaluations, and staff and board conversations.

Offers clear steps for thinking through these 4 dimensions, while inviting inquiry to deepen trustbased values and actions.

Helps you identify areas of focus, opportunities to go deeper on themes you are already working on, and/or future aspirations for your organization.

Encourages you to seek out additional resources that meet your particular needs as you go along your trust-based journey.

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A VALUES-BASED APPROACH Trust-based philanthropy begins with a clearly articulated set of values that function as a north star for

DECISION-MAKING, CULTURE-SETTING, & SYSTEMS DESIGN WHY CLARIFY VALUES? Being clear on values helps you make decisions through moments of uncertainty or change, guides your relationship-building with grantee partners, fosters internal alignment among your staff and board, and informs how you design your organizational systems and structures.

“We believe that the leadership of those most impacted by injustice will get us to justice. If that’s true, then

TRUST-BASED VALUES

EXAMPLES FROM THE FIELD Trust-based philanthropy acknowledges that we operate within an inequitable, white {¥ k » system that has historically favored a small subset while oppressing and exploiting others. Trust-based values are rooted in a commitment to redistributing power in service of a healthier and more equitable society. While there’s not a one-size-fits-all list of values, the following examples have been embraced by a range of trust-based funders:

shouldn’t we trust the people doing the work to know how to get us there?” D IM P L E AB I CH AN DAN I GE N E R A L S E R V I C E F O U N DATI O N

Work for systemic equity: \ Ĉ ¾¶»Ĉ ² w¥ Ó Ĉ» Ĉ²kw k îĈ w¥ ¥ wîĈand political inequities in which we operate, and take an antiăracist approach to change practices and behaviors that perpetuate harm.

Redistribute power: {Çk w Ĉ ¯kw»Ĉ² ±¾ ² ¶Ĉ¾¶Ĉ»¥Ĉ¶ k² Ĉ¯¥È ²ĈÈ » Ĉ » ¥¶ Ĉwho are closer to the issues we seek to address.

Center relationships: Prioritizing FIND YOUR STARTING POINT: HOW TRUST-BASED ARE YOUR VALUES? • If your organization does NOT have articulated values: Take the time to reflect as a staff on what you stand for. What drives your work? What do you fundamentally believe in that you want your team to get behind? What is your process for creating and honing values? Who informs them, and why? • If your organization already has articulated values: Revisit them with a trust-based lens. Do your articulated values acknowledge power, relationship, and accountability to the community? Do any of your articulated values unintentionally reinforce power imbalances, such as giving outsized importance to wealth over people? Are there any assumptions or biases implicit in your existing values statements?

healthy, open, honest relationships can help us navigate the complexity of our work and our world with greater confidence and effectiveness.

Partner in a spirit of service: :¾²Ĉ ²¥ Ĉ ¶Ĉ»¥Ĉv ĈkĈ¶¾¯¯¥²» ²ĈęĈw¥ kv¥²k»¥²Ĉ »¥Ĉ ²k » Ĉ¯k²» ²¶ó O ¶Ĉ² ±¾ ² ¶Ĉ¾¶Ĉ»¥Ĉ k{ĈÈ » Ĉ»²¾¶»îĈ² ¶¯ w»îĈk {Ĉ ¾ »Îó

Be accountable: Our work will only be successful if we hold ourselves accountable to those who we seek to support.

Embrace learning: O Ĉw¥ ¯ Í »ÎĈ¥ Ĉ ¥¾²ĈÈ¥² Ĉ² ±¾ ² ¶Ĉ¾¶Ĉ»¥Ĉv Ĉ¥¯ Ĉ»¥Ĉ k² Ĉk¶ĈÈ Ĉ ¥îĈk {Ĉ v²kw Ĉ ¥¯¯¥²»¾ » ¶Ĉ ¥²Ĉ ²¥È» Ĉk {Ĉ Ç¥ ¾» ¥ Ĉ k ¥ Ĉ» ĈÈkÎó

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THE 4 DIMENSIONS OF TBP Once you clarify values with a trust-based lens, you have a strong basis from which to shape your organizational

CULTURE, STRUCTURES, LEADERSHIP, & PRACTICES 1

CULTURE

(n.) The expression of your values in your organization’s norms, systems, and practices. Culture is your general “way of being.”

Culture is often set as a “default,” meaning there isn’t necessarily intention or care dedicated to culture-building itself. In reality, culture is a constant element of organizational life, and has ramifications for your organizational structure, leadership, and grantmaking. Culture is everywhere, and can often be felt even when it is invisible or unspoken—from how safe staff feel showing up authentically in meetings, to the diversity of representation in an organization’s leadership team.

“We have a cultural norm to encourage and celebrate unexpected emergence. If everything follows ‘the plan,’ we are nal we are controlling too much—it is a signal not reaching high enough.” S H RU U T I JAYARAMAN YAR AN C HIC CA AGO B E Y O N D

ORGANIZATIONAL CULTURE & RACE The default culture in many institutions is white dominant. In this context, individualism, achievement, and perfection operate as baseline assumptions, with little acknowledgment of the structural inequities and sociocultural differences that are present for many people in the workforce. If this default culture goes unacknowledged, it can alienate those who are unable to assimilate, serve as a barrier to building internal trust, and perpetuate staff turnover. For this reason, a trust-based culture requires a commitment to antiracist and anti-bias work so that we can optimize opportunities for cooperation, community, and creativity among diverse staff with varying lived experiences.

If trust is not built internally, then it can never be fully realized externally. Ultimately, a trust-based culture is one wherein we center relationship-building and address inequitable power dynamics in every aspect of our work. This requires us to uncover biases and make space for dialogue, collaboration, transparency, and humility. This also means we must work intentionally and continuously to foster a sense of trust among trustees, senior leadership, staff, grantees, and community members.

STEPS YOU CAN TAKE Culture requires constant cultivation. In a trustbased context, culture is strongest when everyone feels a sense of agency in shaping it. Some organizations may already have elements of trustbased culture, while others may be much earlier in the journey. The role of leadership is essential in upholding and reinforcing culture (see p.5). • Assess your current culture. What are the assumptions about your work and approach? Does everyone have a sense of agency? What source materials support your thinking? What are the expectations of staff? Are there regular discussions about values? Are gatherings designed with power-sharing and inclusion? Identify any cultural practices that may be misaligned with trust-based values. • Normalize conversations about power and race. Power imbalances are always present. Be sure to discuss how they intersect with race, age, gender identity, sexual orientation, (dis)ability, and immigration status. Be upfront about your organization’s endowment, acknowledge the power imbalances within your staff structure, and name built-in biases in your mission statement. It’s important that staff feel empowered to raise and address these imbalances. • Support continuous learning. A learning mindset helps foster a sense of humility, growth, and dialogue. Encourage training opportunities for staff and host discussion groups about current events. Build in annual feedback from the community or conduct ongoing assessments of your organization’s community engagement and trust-building efforts. • Create space for reflection and dialogue. Foster a reflective culture by reserving part of team meetings for relationship-building, encouraging and honoring paid time off, and hosting restorative circles to repair challenged relationships.

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STRUCTURES

(n., pl.) The hierarchies, systems, protocols, policies, standardized processes, and technologies of an organization. This includes compliance policies, HR handbooks, staff decision charts, investment policies, hiring practices, and grants management systems.

Structure is deeply connected to culture and values. If your organization’s structures are not reflective of trust-based values, they are likely to become barriers to advancing trust-based grantmaking practices. It is critical to examine and align your organizational structures so that they don’t inadvertently reinforce topdown power dynamics among your various stakeholders— staff, board, grantee partners, vendors, contractors, etc. It is particularly important to check for any structures that place outsized priority on your foundation’s financial assets over the people you serve. This is perhaps the greatest indicator that your systems and structures are not lining up with trust-based values.

“We are restructuring the organization in an emergent way into a more decentralized, distributed leadership framework that gives all staff a leadership role within the org.”

G ABRI EL A AL CAL D E E L M IN A B . S E WA L L F O U N DATI O N

“

“As part of our commitment to a strong learning culture, the foundation uses multiple platforms of learning, including annual feedback from our community and ongoing evaluation of the foundation’s efforts.”

J OH N BROT H E RS T. ROWE P R IC E F O U N DAT IO N

STEPS YOU CAN TAKE • Conduct an internal audit. Review and assess your policies and procedures to ensure that they express your values and reflect the purpose of your mission. Take into account how structural racism has shown up in your grantmaking, leadership, internal policies and HR—and work toward revising them. Be sure to ask staff, vendors, and grantees for feedback on what’s working and what’s not. • Apply an antiracist, values-based lens to hiring practices. Rather than focusing solely on applicants with graduate degrees and fancy job titles, root your hiring practices in values, competencies, and lived experience. Strive for leadership and staff representation that is reflective of the work you do and the communities you support. • Decentralize decision-making structures. Design decision-making rubrics using collective input, establish grant committees that include community perspectives, and make sure decisions are informed by multiple stakeholders. • Apply a relational lens to grant management. Are your grants management systems designed around grantee compliance and proving impact metrics? If so, they may be thwarting your team’s ability to build transparent, trust-based relationships with grantee partners. Revisit your systems to allow for emergent learning, conversational reporting, and greater flexibility in outcome expectations. • Revisit and revise job descriptions and grant contracts. Job descriptions and grant agreements can often unintentionally perpetuate top-down power dynamics. Consider how these documents can be updated to be less punitive and prescriptive, and more relational and learning-oriented. • Adopt emergent learning tools. Many grantmaking organizations are focused on capturing predetermined impact metrics, which significantly limits how we learn about the work. Instead, build emergent learning into your systems and structures—either by adopting formal tools that guide your decisions, or by informally encouraging ongoing learning discussions among staff and grantee partners.

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LEADERSHIP

(n.) The ability to inspire and align around a common purpose and shared values.1

An organization’s leadership team plays a key role in upholding and reinforcing values and culture—not just by what is said, but what is done. It is virtually impossible for organizations to embody a fully trust-based approach without buy-in and modeling from leadership.

STEPS YOU CAN TAKE • Be self-aware, listen, and be transparent. Think critically about how you are showing up with staff, grantee partners, and the community. Consider how you have benefitted from regular access to power and privilege; how you may be unintentionally perpetuating power differentials or institutional racism. Be as transparent as possible in communications, plans, and assumptions—and don’t shy away from admitting your mistakes. Be clear when there is room for input from others. Practice compassion and non-extractiveness.

Trust-based leaders are collaborative and facilitative. They prioritize the well-being and development of the humans doing the “work,” while keeping an eye on the big-picture organizational vision and purpose. They are focused on lifting up the whole team and building trust internally, rather than consolidating attention, power, and influence at the executive or trustee level. Most importantly, they lead by embodying values of humility, equity, and transparency— with a willingness to give up some of their power in service of the organization’s greater purpose.

• Build a strong support system. Leaders serve as trusted guides for organizations to navigate through change, uncertainty, and growth. In order to do this well, leaders need a strong support system, opportunities to cultivate purpose and restoration, and a commitment to continuous learning.

“We must recognize that we, as individuals within philanthropy, are awarded an incredible amount of unearned credibility and

• Acknowledge power and race—and be willing to take action. Adopt an attitude where continuously evaluating power and privilege is part of your daily work. Be willing to see where racism, sexism, homophobia, and ableism are present in your organization’s culture and take principled action to undo it.

that this skews our perspectives, level of humility, and sense of authority.” A. S P ARKS M A S TO F O U N DAT IO N

• Redefine “risk” and “failure.” Acknowledge that foundations have far more “risk capital” to spare than the organizations you support, so be willing to take bold action. Explore the spaces and places that make you uncomfortable, and challenge yourself. Invite staff to see “failure” not as a bad thing, but as an opportunity to learn, pivot, and grow.

“

“With my team, we have begun intentional conversations about agency: what causes them to have more, what I might be doing to undermine their sense of agency. Building these trusting relationships within the team have been key to our ability to embrace trust-based philanthropy.”

• Coach rather than control. Whether you’re a trustee working with the CEO, or an ED interacting with staff, cultivate a coaching stance to bring out the best in your colleagues. Your job is to uplift, guide, and support your team in contributing to your mission and vision. This means soliciting their feedback, getting curious, and inviting them to reflect on what they’re learning. • Invite collaborative culture-shaping. Be creative in building a sense of agency and inclusion by opening opportunities for collective culturebuilding. Invite teams to shape, guide, inform, or reimagine various aspects of your culture — from small acts like choosing the welcome music for Zoom meetings, to larger considerations like paid holidays and staff retreats.

BRI T T NE Y G AS P ARI THE W INS TO N - S A L E M FO U N DAT IO N

www.trustbasedphilanthropy.org

Source: Rockwood Leadership Institute

PRACTICES

(n., pl.) What you do and how you show up as a grantmaker. This includes the process by which you identify grantees, how you disseminate funds, what information you collect, and how you show up in relationship with your grantee partners.

Too often, foundations get in the way of nonprofits doing the work they know best. This can slow down progress, perpetuate inefficiency, and obstruct nonprofit growth and innovation. Moreover, it creates a top-down power dynamic that makes it virtually impossible to build honest, transparent, mutually accountable relationships. Trust-based philanthropy reimagines that dynamic, advocating for a concrete set of six grantmaking practices that, when practiced together, contribute to more just and equitable funder-grantee relationships.

“Our role as grantmakers changes when we use trust-based practices. Instead of being a compliance officer or gatekeeper, er, we become a thought partner and a shoulder lder for people to come to when they need it.” PHILIP LI R O B E R T S T E R L IN G C L A R K F O U N DAT I O N

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“Trust-based philanthropy breaks down the traditional power dynamic between funder and grantee. It creates a collaborative environment that supports listening, learning, and the ability to be nimble.”

BRE NDA S OL ORZANO HEADWAT E R S F O U N DAT IO N

STEPS YOU CAN TAKE • Give multi-year unrestricted funding. The work of nonprofits is long-term and unpredictable. Multi-year, unrestricted funding gives grantees the flexibility to assess and determine where grant dollars are most needed, and allows for innovation, emergent action, and sustainability. • Do the homework. Oftentimes, nonprofits have to jump through countless hoops just to be invited to submit a proposal. Trust-based philanthropy moves the onus to grantmakers, making it the funder’s responsibility to get to know prospective grantees, saving nonprofits’ time in the early stages of the vetting process. • Simplify and streamline paperwork. Nonprofits spend an inordinate amount of time on funder-driven applications and reports, which can distract them from their mission-critical work. Streamlined approaches focused on dialogue and learning can pave the way for deeper relationships and mutual accountability. • Be transparent and responsive. Open, honest, and transparent communication supports relationships rooted in trust and mutual accountability. When funders model vulnerability and power-consciousness, it signals to grantees that they can show up more fully. • Solicit and act on feedback. Philanthropy doesn’t have all the answers. Grantees and communities provide valuable perspectives that can inform a funder’s strategy and approach, inherently making our work more successful in the long run. • Offer support beyond the check. Responsive, adaptive, non-monetary support bolsters leadership, capacity, and organizational health. This is especially critical for organizations that have historically gone without the same access to networks or level of support than their more established peers.

For a more detailed overview of trust-based grantmaking practices, download our guide at:

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RECOMMENDED RESOURCES GUIDES • Strategies for Aligning Practices and Values, PEAK Grantmaking • Culture Resource Guide, Grantmakers for Effective Organizations • Grantmaking with a Racial Justice Lens, Philanthropic Initiative for Racial Equity • Guide to Great Funder–Nonprofit Relationships, Exponent Philanthropy

WEBSITES • Family Identity and Culture, National Center for Family Philanthropy • Resonance Framework, Justice Funders • Resources on Equity, Diversity, and Inclusion, CHANGE Philanthropy • White Supremacy Culture Characteristics, (Divorcing) White Supremacy Culture

BOOKS • HOLDING CHANGE, adrienne maree brown • DECOLONIZING WEALTH, Edgar Villanueva • LETTING GO, Ben Wrobel and Meg Massey

TRUST-BASED PHILANTHROPY TOOLS • Trust-Based Templates • Six Practices of Trust-Based Philanthropy • Story Map • Self-Reflection Tool

“There are pitfalls on this journey you don’t know to look out for until you’re in them — but it’s important to remember that we’re all imperfect and the most important thing is to keep learning, document, and incorporate the lesson for the next time around.” R AYM A E L B L A C K WE L L CO M M UNI TY F I R S T F OUNDATI O N

Special thanks to our colleagues for sharing their experiences and insights to inform this guide:

Dimple Abichandani, General Service Foundation

Brittney Gaspari, The Winston-Salem Foundation

Gabriela Alcalde, Elmina B. Sewall Foundation

Lorenzo Herrera y Lozano, Justice Funders

Raymael Blackwell, Community First Foundation

Pia Infante, The Whitman Institute

John Brothers, T. Rowe Price Foundation

Shruti Jayaraman, Chicago Beyond

Jennifer Ching, North Star Fund

Philip Li, Robert Sterling Clark Foundation

Ashley Clark, The Libra Foundation

Brenda Solorzano, Headwaters Foundation

John Esterle, The Whitman Institute

A. Sparks, Masto Foundation

www.trustbasedphilanthropy.org

Founded in 2001 as the Community Health Foundation of Western and Central New York, the organization awarded its first grants in April 2004. By 2014 the Foundation had awarded more than 400 grants—totaling $27 million—to fund programs across 16 counties in western and central New York. The Foundation’s success at improving health and health care in its regions grew out of the passion, vision and dedication of its founding trustees. These visionaries possessed a “long-standing commitment to making a difference for both people and communities,” wrote former Foundation President Ann F. Monroe in the Foundation’s First Report to the Community in 2007. Through years of study and discussion, they shaped an organization that emphasizes person-centered care, quality improvement and measurable impact as it strives to achieve tangible, lasting improvement in the health and health care of the people and communities it serves. A National Health Care Need The origins of the Foundation began in the 1960s. “Many, especially young people, objected to the inequities in access to medical care,” Robert Ludwig, a former trustee and vice president of Health Care Plan and Univera Healthcare, wrote in his personal account of the Foundation’s early days. On July 30, 1965, President Lyndon B. Johnson signed amendments to the Social Security Act into law, amid great hopes that the creation of Medicare and Medicaid would improve access to health care. Medicare and Medicaid became the United States’ first public health insurance program; Medicaid assists low-income Americans and Medicare provides health insurance for people over 65. Creating Medicare and Medicaid was not a magic pill, however. “The financial provisions of those laws did very little to change the way health care was delivered, especially to those of low income,” Ludwig wrote. “Their access to high-quality care was still fragmented and hard to obtain.” Regional Leadership Emerges During the social upheaval of the 1960s and 1970s, several young men across western and central New York were developing viewpoints on public health that would later shape the Foundation. They included William Mosher, Erie County health commissioner; Fred Yanni, a community activist in Syracuse; Arthur Goshin, a State University of New York at Buffalo medical student; and Dr. Edward Marine, associate dean of the State University at New York at Buffalo’s medical school. Marine would become the Foundation’s first president in 2001.

These men were dreaming of a pre-paid group practice with a strong focus on serving poor people. In 1973, the federal Health Maintenance Organization Act was passed, creating a national wave of new health care financing and delivery organizations. Many were launched by idealistic leaders with public health or hospital backgrounds and shared commitments to universal, affordable and high-quality health care. “It was a model of idealism,” Ludwig wrote. The goal was to create a group practice that delivered quality medical care to enrollees with a broad range of incomes. However, its success depended on continued subsidies. This fact, combined with a lack of continuity of eligibility and a high threshold for eligibility, resulted in a large group of low-income people without medical coverage. The 1978 amendments to the HMO Act adjusted that idealistic model by requiring a strict, nonprofit business model, yet low-income people still fell through the cracks. In 1976, Goshin became founder and president of a not-for-profit organization that created Health Care Plan, an HMO in Buffalo. Around the same time, Health Services Medical Corporation (Prepaid Health Plan) began operating in central New York with Yanni as president and CEO. “Organizations like ours were at the forefront of not-for-profit health care covering preventive care, diagnostic testing, all the things that had never been included before,” Goshin said. “We had a mission to serve the broad base of the community, and we believed the benefits we created should not accrue to the shareholders, but to the community we serve.”

A Foundation of Collaboration The Syracuse and Buffalo HMOs worked together and the boards got to know one another, said Goshin. “We wanted to take programs that were community based and find a place where these organizations and their staffs could learn and engage in activities that would increase their own abilities,” Goshin added. This early relationship between Syracuse and Buffalo HMOs set the stage for the Foundation’s creation. “The culture in Syracuse by the time the HMOs developed was one of a fair degree of collaboration,” agreed Jim Abbott, a founding trustee of the Foundation and former CEO of St. Joseph's Hospital. By the 1990s, health care administrators saw changes affecting HMOs. “It was important to be larger,” Goshin said. “We decided we should merge so we could be larger and experience other opportunities.” The two plans merged in 1998, becoming Univera Health Care, with Goshin as president. In 2001, Univera merged with Excellus, a Blue Cross/Blue Shield plan based in Rochester. This merger was made possible thanks to the expertise of many individuals at both organizations, including Stephen Suhowatsky, a board member at the former Prepaid Health Plan who became a founding trustee of the Community Health Foundation. Suhowatsky, retired president and CEO of Syracuse Supply Company is currently managing partner of C3 Strategic, LLC, and is an entrepreneur in residence at Syracuse Technology Garden. The Foundation was an effort by Univera (formerly Health Care Plan and Prepaid Health Plan) and Excellus to create a lasting legacy to improve the lives of people in their communities, according to Goshin, who now serves as an advisor to the board of trustees. In addition, Goshin is founder of the Office of Global Health Initiatives at the School of Public Health and Health Professions at the State University of New York at Buffalo, and has a 40-year career in public health and in the development and management of large health care organizations. As a result of the merger, the Community Health Foundation of Western and Central New York was created and endowed with assets that originally totaled an estimated $100 million. The agreement to establish the Foundation was signed on November 22, 2000. The Community Health Foundation was one of many health conversion foundations created around that time. In fact, between 1984 and 2006, about 30 health plan conversion foundations across the nation were endowed with billions of dollars, “irrevocably altering the health landscape,” Managed Care magazine noted in 2008.

“The unprecedented shift in assets from combined not-for-profit health plans, hospitals and health systems was termed by researchers ‘the largest redeployment of charitable assets in U.S. history,’” the magazine published. Although the new foundation was not officially a conversion, since no entity converted to forprofit, it was designed and governed in a similar manner. But to avoid potential conflicts of interest, the New York State Insurance Department mandated that the Foundation’s board could not include Excellus management employees. Although it had been Goshin’s conviction that a foundation was possible, and it was his drive that had helped achieve it, this provision meant that both Goshin and Yanni could not serve on the board until they had completed their employment with Excellus. A Strategic Start The Foundation’s first executive director was Edward Marine. Founders credit his persistence, knowledge and organizational skills for setting up the foundation. Marine, who died in 2011, was founding medical director and chief medical officer of Health Care Plan. “He was very well-organized and very well-read in medical issues,” said Steve Ames, a former trustee and former executive vice president of Marine Midland Bank (Now HSBC Bank USA) in Buffalo. Marine helped instill the Foundation’s philosophy of measuring outcomes of programs it funded and implemented. “He put together a manual of operations and a book of rules and regulations. He had a needs-assessment type of personality and encouraged the data-driven style of evaluating the need, and after making the investment, going back and seeing how we did.” The three years between when the foundation formed and when it made its first grant were busy for the founding trustees. They spent countless hours tackling legal, ethical and logistical questions about the best way to use the endowment to meet public health needs. “We were pretty open-minded,” Abbott said. “No one had a fixed notion of how this should go. My view was as long as it helped the health care delivery, I didn’t care what the focus was. The decision to zero in on frail elderly and children was an inspired idea. Who’s going to be against kids and old people?”

Determining Areas of Focus The Foundation’s mission was broad: to improve the health and health care of the people and communities of western and central New York. The organization first researched four broad categories: older adults, access to primary care, workforce that serves the poor and elderly and patient safety. From the beginning, the Foundation sought to be an active player in the health care community. “We didn’t want to be a foundation that sits around and waits for people to come to us with applications,” Abbott said. “We wanted to be the foundation that says, ‘We see a need. Would you like to be a part of this?’” Ames agreed that “we were all pretty much on the same page.” Despite some “wishful thinking,” the group knew their endowment couldn’t save the world, so they had “realistic discussions about what our mission should be and what we should concentrate on in grant making,” he recalled. “The trick for the Foundation was to narrow down to the areas where it can provide unique services or solutions that can be taken to a larger scale,” Goshin said. “Is $5 million a lot? No. But you can do some good things with that. We can make some community organizations better and help them gain access to more resources.” The founders quickly addressed the question of the new foundation’s unusual geography. Rather than encompassing contiguous areas, the Foundation’s territory encompasses eight

counties in western New York and eight in central New York. Sixty miles separate the two regions. They also had to address the discrepancy between the assets of the two regions. The history of collaboration among core founders on state and national health care advocacy helped the board overcome both challenges. “The initial assent of everyone was that the benefits of shared staff, and working together on similar projects with a larger pot of money, overcame the negatives of distance, the different patterns of each region and the discrepancy in the amount of funds available to each,” Ludwig wrote. The Foundation settled on an allocation formula for spending in western and central New York. The formula takes into consideration the asset value that each of the original regional HMO partners brought to their merger when they were purchased by Excellus BlueCross/BlueShield and the relative populations of the two eight-county areas. That produces a spending ratio of slightly more than 2:1 for the western New York region compared to the central New York region. Next, the founding board addressed its operation and how it would award grants. Should the Foundation be responsive, receiving unsolicited grant requests initiated by others? Or should it be strategic, selecting what and who it would fund? “There was an immediate agreement that the Board tended toward the strategic end of the spectrum,” Ludwig wrote. He also recalled Marine urging the board to select projects that would position the Foundation as a national player in health care. Preparing to Make a Difference By early 2002, the board began an environmental scan, a process of researching and adopting best practices. For the Foundation, this included meeting with national experts on philanthropy and major health stakeholders in the two regions, especially those that worked with health care safety net activities. Early discussions confirmed that the founders shared a passion for helping communities allow people to age in place, increasing access to health care and improving the health of young children in poverty. According to founding trustee Dr. James Nolan, former chair of the Department of Medicine at the State University of New York at Buffalo School of Medicine and Biomedical Sciences and chief of medicine at Buffalo General Hospital, focusing on groups like children in poverty and older adults was logical.

“There wasn’t an awful lot being done,” Nolan said. “There were a lot of people in the inner city who were not getting care and were living in poverty, and not a lot of people were studying how to help.” The board hired Ann Monroe as its president in March 2003. Her credentials perfectly fit the needs of the nascent foundation. She had been director of the quality initiative at the California HealthCare Foundation, a conversion foundation. Monroe also had experience helping established and emerging foundations in health and human services, and had served as vice chair of Grantmakers in Health, a nonprofit, educational organization dedicated to helping foundations and corporate giving programs improve the health of all people. “When you’re in from the start, you can set the goals, the focus, build an organization. She had the drive, and she did it well,” Suhowatsky said.

Monroe guided the board in narrowing its strategic focus. In early 2004, she outlined two target populations: frail, older adults and underserved children and their families. “Even after deciding to improve the health and health care of these two groups, we must continue to be rigorous in our focus and disciplined to keep from being pulled in too many directions,” Monroe wrote later that year. The Foundation “intends to invest its resources in ways that advance the quality of health and health care for selected groups in western and central New York,” Monroe wrote in a 2004

memo to the board. “This investment is designed to build sustainable, high-quality programs that become integrated into the fabric of the community for those who follow.” Monroe laid out several operating principles. The Foundation’s investments “are based on national best practices, demonstrated models that work.” Further, “all sectors of the health care system need to be publicly accountable for performance and outcomes”; “community interest takes priority over individual agency interest or advancement”; and “tracking against baseline and measuring performance changes in the system are integral to all efforts.” She also noted that the foundation would “provide voice to the patient and underserved persons; would foster collaboration; and would work to build capacity in the health care system.” Following these principles, the Foundation started with a staff of three and awarded its first grants in 2004. Some of the Foundation’s earlier initiatives focused on topics like caregiver support, children’s oral health and leadership development, including the Foundation’s landmark Health Leadership Fellows program. Evolving and Refining In 2009, the Foundation evaluated its efforts and sharpened its focus within both target populations. This review reflected the Plan-Do-Study-Act approach promoted by the early trustees and the guiding principles Monroe outlined in 2004. In addition to its focus on older elders and children impacted by poverty, the Foundation formalized its focus area of Building Community Health Capacity. As the Foundation celebrated its 10th anniversary in July 2012, it changed its name to the Health Foundation for Western and Central New York. The board approved the change to avoid confusion with charitable organizations with similar names in Buffalo and Syracuse. The trustees felt confident that the foundation had proven its commitment to the community and it was not necessary to keep the word in its name. In 2014, the Health Foundation underwent a second strategic sharpening process. The Foundation reaffirmed the organization’s commitment to its three focus areas, developed a set of eight principles that guide its work and refined its visions in each focus area. The Foundation’s visions are that all vulnerable older adults are able to: plan for and maintain a dignified, independent, high-quality life in their community; all children affected by poverty are physically, socially and emotionally healthy as they enter kindergarten; and all communities are able to plan for, and address, the health needs of the most vulnerable and those in poverty.

It also included an important philosophy from the preamble to the constitution of the World Health Organization that underlies all of the Foundation’s efforts: “Health is a state of complete physical, mental and social well-being and not merely the absence of disease or infirmity.” The Foundation’s history of ongoing evaluation and strategic sharpening ensures a strong future of serving the changing health care needs of its target populations. “We were never a foundation that only wrote checks,” Monroe told Buffalo Business First in 2013. Rather, the Health Foundation’s unique approach to grantmaking has meant that the Foundation has been able to work with community partners on programs from development to implementation to achieve lasting outcomes. It’s a big-picture focus, Monroe said. Initiatives are “a bouquet of grants and technical assistance and materials and data gathering – a variety of things needed to make the change that you want.” A Refocused Commitment to Improving Health for All In 2016, the Foundation named Nora OBrien-Suric, Ph.D. as its new president, succeeding Monroe, who retired after 13 years. OBrien-Suric’s expertise, compassion and drive continue to move the mission of the Foundation forward in an evolving and challenging environment. “To improve health outcomes, we know we must thoughtfully identify the needs of our communities, including those who are most directly affected. To do so, we use inclusive, collaborative approaches to share decision-making and together pursue an innovation that addresses the needs of the community need,” OBrien-Suric said͘ /Ŷ ϮϬϭϳ͕ ĂƐ ŚĞĂůƚŚ ĐŽǀĞƌĂŐĞ ŝŶ ƚŚĞ h͘^͘ ĨĂĐĞĚ ŽŶŐŽŝŶŐ ƚŚƌĞĂƚƐ ĂŶĚ ǁĞĂŬĞŶŝŶŐ͕ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶΖƐ ƚƌƵƐƚĞĞƐ ĐŽŵŵŝƚƚĞĚ ƚŽ Ă ŶĞǁ ĂĚǀŽĐĂĐǇ ƉůĂƚĨŽƌŵ ƚŚĂƚ ŝŶĐůƵĚĞĚ ƵŶŝǀĞƌƐĂů ŚĞĂůƚŚ ĐŽǀĞƌĂŐĞ ĨŽƌ Ăůů EĞǁ zŽƌŬĞƌƐ ďǇ ϮϬϮϳ͘ ϮϬϮϳ͘ In 2020, the Foundation embarked on its next strategic plan, refining and refocusing its vision areas and objectives to meet the evolving health care needs of the community. The Foundation’s new vision is: A healthy western and central New York where all people, especially the racially marginalized and/or economically disadvantaged, can reach their full potential, supported by systems and communities to achieve equitable health outcomes. With a combination of the idealistic vision of its founders and the experience of its staff and board, the Health Foundation is committed to continuing its work to improve the health of older adults and young children impacted by poverty in western and central New York.

What Makes a

GOOD BOARD MEMBER? BOARD CHAIRS: CREATE A PARTNERSHIP WITH THE EXECUTIVE DIRECTOR OR CEO. The partnership between a nonprofit’s board chair and CEO is one of the most important elements of a strong board and a successful organization. However, developing this relationship takes work and commitment from both individuals. The role of chief executive can be lonely, so having a trusted colleague in the board chair is invaluable. A good board chair ensures lines of communication are open and serves as a much-needed sounding board for the CEO. Don’t Do: Board chairs shouldn’t shy away from, or overreact to, bad news. A strong board chair–CEO relationship is built on trust. The CEO should be just as comfortable sharing bad news as good.

While all effective board members understand and meet their basic responsibilities, truly exceptional board members do more. They go beyond the basics and pay attention to how they approach board service. These six characteristics build on straightforward board duties and focus on key traits of exceptional board members.

FOCUS ON LISTENING, NOT JUST PARTICIPATING. To encourage robust discussion during board meetings, board members must be prepared to listen as well as engage. Exceptional board members are careful not to dominate discussions and ensure that everyone, including quieter board members, have a chance to share their opinions. Additionally, it is important to understand the reasoning behind individuals’ comments, even when board members do not agree. After listening carefully to others’ views, the board can work together to build consensus. Don’t Do: Avoid creating a homogenous board in which consensus is based solely on similar experiences and opinions. Diversity enhances decision making, so incorporating a number of different perspectives in discussions helps the board arrive at the best result.

TEXT MAY NOT BE REPRODUCED WITHOUT WRITTEN PERMISSION.

WHAT MAKES A GOOD BOARD MEMBER?

UNDERSTAND THE BALANCE BETWEEN GIVING THE CEO AMPLE ROOM TO MANAGE THE ORGANIZATION AND ENSURING THAT ETHICAL STANDARDS ARE MET. Board members are overseers, not implementers. The chief executive is in charge of managing the day-to-day activities of the organization, and the board should be careful not to micromanage. Instead, board members are responsible for bringing complex, big-picture questions and opportunities to the organization. However, the board must also ensure adherence to legal standards and ethical norms. Adopting a “hands-off” management approach does not mean that board members can turn a blind eye to ethical improprieties. All board members should be familiar with the organization’s bylaws and understand how best to respond to any ethical issues that might arise.

ASK “NAÏVE” QUESTIONS THAT OTHERS WANT TO ASK BUT MAY SHY AWAY FROM.

Don’t Do: When introducing issues or programs for the board to consider, board members should be careful not to push their personal agendas. The needs of the organization should always come before personal connections and pet projects.

One of the most important roles of nonprofit board members is to ask questions. The board should constantly assess current and proposed projects to ensure they serve the organization’s mission and are setting the organization up for success. In addition to bigger picture questions, exceptional board members are not afraid to ask what may seem to some as simple, more straightforward questions as well. Oftentimes, a more nuanced organizational business practice can take time to understand, or a new board member might not be familiar with the organization’s history. Good board members are not afraid to ask naïve questions because they trust their own instincts and want to improve their knowledge of the organization. Don’t Do: While asking questions is beneficial, board members must be prepared for rigorous discourse by reading all the materials provided to them during new board member orientation and in advance of a board meeting. Posing a question that has been answered in the materials provided may show a lack of attention or interest.

TEXT MAY NOT BE REPRODUCED WITHOUT WRITTEN PERMISSION.

WHAT MAKES A GOOD BOARD MEMBER?

SERVE AS AMBASSADORS FOR THEIR ORGANIZATIONS AND UNDERSTAND THE RESPONSIBILITY THAT COMES WITH THAT ROLE. As ambassadors, board members represent the board outside the boardroom. This can range from talking with colleagues and friends about the good work the organization does to attending meetings with legislators. Board members serve as a link between the organization and its members, stakeholders, constituents, and clients and are responsible for educating influencers and the community about the importance of the organization’s work. For more information on board members’ roles as advocates, visit the Stand for Your Mission campaign. Don’t Do: While it is important to discuss the organization’s work outside of the boardroom, board members must be careful not to gossip about confidential matters. No matter how informal the situation might seem, internal matters of the organization should remain just that — internal.

HELPFUL RESOURCES

Board Fundamentals

Culture of Inquiry

Above all else, good board members enjoy their role. They are passionate about the work of the organization and interested in learning more about its mission and the community served. Board meetings should not be seen as a chore; instead, they can help board members connect with their peers and maintain enthusiasm for their important responsibilities.

REMAIN ENERGETIC IN LEARNING ABOUT AND HELPING THE ORGANIZATION.

Don’t Do: Be wary of board members who have lost their excitement for board service. Occasionally, fatigued or irritable board members are be a sign of problems with the staff or board processes, but a lack of enthusiasm might also mean it is time for certain members to roll off the board.

Adapted from a featured speech at the 2007 BoardSource Leadership Forum by Susan V. Berresford, then president and CEO, Ford Foundation.

Ten Basic Responsibilities of Nonprofit Boards

The Board Chair Handbook

TEXT MAY NOT BE REPRODUCED WITHOUT WRITTEN PERMISSION.

HFWCNY 2022 Meeting Dates July

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Committees: CNY Regional: 2:30pm – 5:30pm @ TBD WNY Regional: 2:30pm – 5:30pm @ TBD Board of Trustees: 1:30pm – 5pm @ TBD New Trustee Orientation: 10am – 12pm Via Zoom Investment/Fin & Ops: 11am – 3pm @ TBD Board of Trustees Retreats: 6/22 and 11/30 8am – 5pm @ TBD Community Impact: 2:30pm – 4:30pm @ TBD *Meeting information subject to change. Please always refer to meeting reminder, which is sent out two weeks prior to the meeting

Holidays: https://www.timeanddate.com/h olidays/us/2022

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Committees: CNY Regional: 2:30pm – 5:30pm @ TBD WNY Regional: 2:30pm – 5:30pm @ TBD Board of Trustees: 1:30pm – 5pm @ TBD (Annual Mtg)* New Trustee Orientation: 11am – 1pm @ TBD Investment/Fin & Ops: 11am – 3pm @ TBD Board of Trustees Retreats: 6/28 and 11/29 8am – 5pm @ TBD Community Impact: 2:30pm – 4:30pm @ TBD *Meeting information subject to change. Please always refer to meeting reminder, which is sent out two weeks prior to the meeting

Holidays: https://www.timeanddate.com/h olidays/us/2023 *June 14th Annual Mtg start time is 11:30 with lunch prior to the mtg

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5.19.22

^ĞĐƚŝŽŶ Ϯ͘ϭ

'Z EdD </E' WZK hZ ^ /Ŷ ƚŚĞ ŵĂũŽƌŝƚǇ ŽĨ ŝƚƐ ŐƌĂŶƚŵĂŬŝŶŐ͕ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ĨŽƌ tĞƐƚĞƌŶ Θ ĞŶƚƌĂů EĞǁ zŽƌŬ ŽƉĞƌĂƚĞƐ ďǇ ĐƌĞĂƚŝŶŐ ƐƚƌƵĐƚƵƌĞĚ ŽƉƉŽƌƚƵŶŝƚŝĞƐ ĨŽƌ ŽƌŐĂŶŝǌĂƚŝŽŶƐ ĂŶĚ ŝŶĚŝǀŝĚƵĂůƐ ƚŽ ǁŽƌŬ ǁŝƚŚ ƚŚĞŵ ŝŶ ĂĚĚƌĞƐƐŝŶŐ ŬĞǇ ĐŽŵŵƵŶŝƚǇ ŚĞĂůƚŚ ŝƐƐƵĞƐ͘ dŚĞ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ĐƵƌƌĞŶƚ ƉƌŽŐƌĂŵ ƉƌŝŽƌŝƚŝĞƐ ĂƌĞ ĂͿ sƵůŶĞƌĂďůĞ KůĚĞƌ ĚƵůƚƐ ĂŶĚ ďͿ ŚŝůĚƌĞŶ /ŵƉĂĐƚĞĚ ďǇ WŽǀĞƌƚǇ͘ /Ŷ ĚĞǀĞůŽƉŝŶŐ ŝŶŝƚŝĂƚŝǀĞƐ ǁŝƚŚŝŶ ƚŚĞƐĞ ƉƌŝŽƌŝƚŝĞƐ͕ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ ƐƉĞĐŝĨŝĞƐ ƚŚĞ ƉŽƉƵůĂƚŝŽŶ ƚŽ ďĞ ƐĞƌǀĞĚ ĂŶĚ ĚĞĨŝŶĞƐ ƚŚĞ ŬŝŶĚ ŽĨ ƉƌŽŐƌĂŵ ŝƚ ĨĞĞůƐ ǁŝůů ďĞ ŵŽƐƚ ĞĨĨĞĐƚŝǀĞ ŝŶ ŵĞĞƚŝŶŐ ƚŚĞ ŶĞĞĚƐ ŽĨ ƚŚĂƚ ƚĂƌŐĞƚ ŐƌŽƵƉ͘ KŶĐĞ ƚŚĂƚ ŝƐ ĚŽŶĞ͕ ƚŚĞ ĐŽŵŵƵŶŝƚǇ ŝƐ ĂƐŬĞĚ ƚŽ ƉĂƌƚŝĐŝƉĂƚĞ ŝŶ ƚŚĞ ĨŽůůŽǁŝŶŐ ǁĂǇƐ͗ ZĞƋƵĞƐƚƐ ĨŽƌ WƌŽƉŽƐĂůƐ ;Z&W^Ϳ dŚĞ &ŽƵŶĚĂƚŝŽŶ ƌĞĐĞŝǀĞƐ Ă ŵĂũŽƌŝƚǇ ŽĨ ƌĞƋƵĞƐƚƐ ĨŽƌ ĨƵŶĚŝŶŐ ƚŚƌŽƵŐŚ ƉƌŽŐƌĂŵƐ ĚĞƐŝŐŶĞĚ ǁŝƚŚ ŝŶƉƵƚ ĨƌŽŵ ůŽĐĂů ĐŽŵŵƵŶŝƚŝĞƐ ĂŶĚ Ă ĨŽƌŵĂů ZĞƋƵĞƐƚ ĨŽƌ WƌŽƉŽƐĂůƐ ƉƌŽĐĞƐƐ͘ dŚƌŽƵŐŚ ƚŚŝƐ ƉƌŽĐĞƐƐ͕ ƐƚĂĨĨ ĚĞǀĞůŽƉƐ Ă ZĞƋƵĞƐƚ ĨŽƌ WƌŽƉŽƐĂůƐ ĚŽĐƵŵĞŶƚ ĨŽƌ Ă ĨƵŶĚŝŶŐ ŽƉƉŽƌƚƵŶŝƚǇ ĂŶĚ ŝƚ ŝƐ ƌĞǀŝĞǁĞĚ ĂŶĚ ĂƉƉƌŽǀĞĚ ďǇ &ŽƵŶĚĂƚŝŽŶ ŵĂŶĂŐĞŵĞŶƚ ƉƌŝŽƌ ƚŽ ĚŝƐƚƌŝďƵƚŝŽŶ͘ KŶĐĞ ĨŝŶĂůŝǌĞĚ͕ ƚŚĞ Z&W ŝƐ ĚŝƐƚƌŝďƵƚĞĚ ƚŽ ƚŚĞ ĂƉƉƌŽƉƌŝĂƚĞ ƚĂƌŐĞƚ ĂƵĚŝĞŶĐĞ;ƐͿ ƚŚƌŽƵŐŚ ŵƵůƚŝƉůĞ ĐŚĂŶŶĞůƐ͕ ŝŶĐůƵĚŝŶŐ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ ǁĞďƐŝƚĞ͕ ĞŵĂŝů͕ ŵĞĚŝĂ͕ ŝŶͲƉĞƌƐŽŶ ĐŽŶƚĂĐƚ͕ ĞƚĐ͘ ^ƚĂĨĨ ĞƐƚĂďůŝƐŚĞƐ Ă ƚŝŵĞĨƌĂŵĞ ĨŽƌ ǁŚĞŶ ƋƵĞƐƚŝŽŶƐ ĨƌŽŵ ƉŽƚĞŶƚŝĂů ƌĞƐƉŽŶĚĞŶƚƐ ǁŝůů ďĞ ĂĐĐĞƉƚĞĚ ĂŶĚͬŽƌ ƐĐŚĞĚƵůĞƐ ĨŽƌŵĂů YƵĞƐƚŝŽŶ ĂŶĚ ŶƐǁĞƌ ĐĂůůƐ͘ dǇƉŝĐĂůůǇ͕ ĂƉƉůŝĐĂŶƚƐ ŵƵƐƚ ƐƵďŵŝƚ Ă ƉƌŽƉŽƐĂů ŶĂƌƌĂƚŝǀĞ ĂŶĚ ďƵĚŐĞƚ ƚŽ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͘ ĨƚĞƌ ƉƌŽƉŽƐĂůƐ ĂƌĞ ƌĞĐĞŝǀĞĚ ĂŶĚ ƌĞǀŝĞǁĞĚ͕ ƐƚĂĨĨ ŵĂǇ ƐĐŚĞĚƵůĞ ƐŝƚĞ ǀŝƐŝƚƐ ƚŽ ƉŽƚĞŶƚŝĂů ŐƌĂŶƚĞĞƐ ƚŽ ĂƐƐŝƐƚ ŝŶ ƚŚĞ ƐĞůĞĐƚŝŽŶ ƉƌŽĐĞƐƐ͘ ĨƚĞƌ ƚŚĞ ƌĞǀŝĞǁ ƉƌŽĐĞƐƐ ŝƐ ĐŽŵƉůĞƚĞ͕ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ ƚŚĞŶ ŶŽƚŝĨŝĞƐ Ăůů ĂƉƉůŝĐĂŶƚƐ ŽĨ ƚŚĞ ƐĞůĞĐƚŝŽŶ ĚĞĐŝƐŝŽŶƐ͘ /ŶǀŝƚĂƚŝŽŶƐ ĨŽƌ WƌŽŐƌĂŵ WĂƌƚŝĐŝƉĂƚŝŽŶ dŚĞ &ŽƵŶĚĂƚŝŽŶ ďĞůŝĞǀĞƐ ƚŚĂƚ ƚŚĞ ďĞƐƚ ƐŽůƵƚŝŽŶƐ ƚŽ ĐŽŵŵƵŶŝƚǇ ƉƌŽďůĞŵƐ ĂƌĞ ĐŽŵƉƌĞŚĞŶƐŝǀĞ ĂŶĚ ĐŽůůĂďŽƌĂƚŝǀĞ͘ KĨƚĞŶ ƚŚĞ ůĂĐŬ ŽĨ ĐŽŵŵƵŶŝĐĂƚŝŽŶ ĂŵŽŶŐ ƉĞŽƉůĞ ĚŽŝŶŐ ƚŚĞ ƐĂŵĞ ŬŝŶĚ ŽĨ ǁŽƌŬ ĂŶĚ ƚŚĞŝƌ ůĂĐŬ ŽĨ ĞǆƉŽƐƵƌĞ ƚŽ ƐƵĐĐĞƐƐĨƵů ŵŽĚĞůƐ ĂƌĞ ƐŝŐŶŝĨŝĐĂŶƚ ďĂƌƌŝĞƌƐ ƚŽ ƐƵĐĐĞƐƐ͘ dŽ ĂĚĚƌĞƐƐ ƚŚŝƐ ƉƌŽďůĞŵ͕ ,&t Ez ĐƌĞĂƚĞƐ ŽƉƉŽƌƚƵŶŝƚŝĞƐ ĨŽƌ ŝŶĚŝǀŝĚƵĂůƐ͕ ŽƌŐĂŶŝǌĂƚŝŽŶƐ ĂŶĚ ŐƌŽƵƉƐ ŽĨ ŽƌŐĂŶŝǌĂƚŝŽŶƐ ƚŽ ĐŽŵĞ ƚŽŐĞƚŚĞƌ ƚŽ ůĞĂƌŶ ŶĞǁ ďĞƐƚ ƉƌĂĐƚŝĐĞƐ͕ ǁŽƌŬ ǁŝƚŚ ŶĂƚŝŽŶĂů ĞǆƉĞƌƚƐ ĂŶĚ ƐŽůǀĞ ĐŽŵŵŽŶ ƉƌŽďůĞŵƐ͘ /ŶƚĞƌĞƐƚĞĚ ƉĂƌƚŝĐŝƉĂŶƚƐ ŶĞĞĚ ƚŽ ĂƉƉůǇ ƚŽ ďĞ ƉĂƌƚ ŽĨ ƚŚĞƐĞ ůĞĂƌŶŝŶŐ ŽƉƉŽƌƚƵŶŝƚŝĞƐ ďƵƚ ĚŽ ŶŽƚ ŶĞĐĞƐƐĂƌŝůǇ ƉƌĞƐĞŶƚ Ă ͞ƉůĂŶ͟ Žƌ ƉƌŽƉŽƐĂů ŽŶ ƚŚĞ ĨƌŽŶƚ ĞŶĚ͘ /Ŷ ƚŚŝƐ ǁĂǇ ŝƚ ŝƐ ĚŝĨĨĞƌĞŶƚ ƚŚĂŶ Ă ƚƌĂĚŝƚŝŽŶĂů Z&W ƉƌŽĐĞƐƐ͘

,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ĨŽƌ tĞƐƚĞƌŶ Θ ĞŶƚƌĂů EĞǁ zŽƌŬ

^ĞĐƚŝŽŶ Ϯ͘ϭ dŚĞ Z^ Ɛ ƌĞǀŝĞǁ ƚŚŽƐĞ ĂƉƉůǇŝŶŐ ĂŶĚ ŵĂŬĞ ĂŶ ĂƐƐĞƐƐŵĞŶƚ ŽĨ ĂƉƉƌŽƉƌŝĂƚĞŶĞƐƐ ĨŽƌ ƉĂƌƚŝĐŝƉĂƚŝŽŶ ĂŐĂŝŶƐƚ ƚŚĞ ƉƌĞͲƐĞƚ ĐƌŝƚĞƌŝĂ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ ŚĂƐ ĚĞƚĞƌŵŝŶĞĚ͘ Ŷ ĞǆĂŵƉůĞ ŽĨ ƚŚŝƐ ŬŝŶĚ ŽĨ ŐƌĂŶƚŵĂŬŝŶŐ ŝƐ ͞/ŵƉƌŽǀŝŶŐ WĂƚŝĞŶƚ KƵƚĐŽŵĞƐ ƚŚƌŽƵŐŚ Ă YƵĂůŝƚǇ /ŵƉƌŽǀĞŵĞŶƚ ŽůůĂďŽƌĂƚŝǀĞ͟ ǁŚŝĐŚ ǁĂƐ ĚĞƐŝŐŶĞĚ ƚŽ ŝŵƉƌŽǀĞ ƚŚĞ ƋƵĂůŝƚǇ ŽĨ ĐĂƌĞ ĨŽƌ ǀƵůŶĞƌĂďůĞ ŽůĚĞƌ ĂĚƵůƚƐ͘ /Ŷ ƚŚŝƐ ƉƌŽũĞĐƚ͕ ůŽĐĂů ƚĞĂŵƐ ŽĨ ŵƵůƚŝƉůĞ ŽƌŐĂŶŝǌĂƚŝŽŶƐ ĐŽŵĞ ƚŽŐĞƚŚĞƌ ǁŝƚŚ ŶĂƚŝŽŶĂů ĞǆƉĞƌƚƐ ĂŶĚ Ă ƐƚƌƵĐƚƵƌĞĚ ƉƌŽĐĞƐƐ ƚŽ ƐŽůǀĞ ůŽĐĂů ƉƌŽďůĞŵƐ͘ ,&t Ez͛Ɛ ,ĞĂůƚŚ >ĞĂĚĞƌƐŚŝƉ &ĞůůŽǁƐ WƌŽŐƌĂŵ ƵƚŝůŝǌĞƐ Ă ƐŝŵŝůĂƌ ŵŽĚĞů͕ ďƵƚ ŝƐ ĨŽĐƵƐĞĚ ŽŶ ŝŶĚŝǀŝĚƵĂůƐ͘ /Ŷ ƚŚŝƐ ƉƌŽŐƌĂŵ͕ ŚĞĂůƚŚĐĂƌĞ ůĞĂĚĞƌƐ ĂĐƌŽƐƐ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ϭϲͲĐŽƵŶƚǇ ƐĞƌǀŝĐĞ ĂƌĞĂ ĂƌĞ ƐĞůĞĐƚĞĚ ĨŽƌ Ă ĐŽůůĂďŽƌĂƚŝǀĞ ůĞĂĚĞƌƐŚŝƉ ĚĞǀĞůŽƉŵĞŶƚ ĞǆƉĞƌŝĞŶĐĞ ĨŽĐƵƐĞĚ ŽŶ ŚŽŶŝŶŐ ƚŚĞŝƌ ĐƌŝƚŝĐĂů ƐŬŝůůƐ ŝŶ ŽƌĚĞƌ ƚŽ ŝŵƉƌŽǀĞ ŚĞĂůƚŚ ŽƵƚĐŽŵĞƐ ĨŽƌ ĨƌĂŝů ĞůĚĞƌƐ ĂŶĚ ĐŚŝůĚƌĞŶ ŝŶ ĐŽŵŵƵŶŝƚŝĞƐ ŽĨ ƉŽǀĞƌƚǇ͘ ŽŶǀĞŶŝŶŐ /Ŷ ĂĚĚƌĞƐƐŝŶŐ ŬĞǇ ĐŽŵŵƵŶŝƚǇ ŚĞĂůƚŚ ŝƐƐƵĞƐ͕ ,&t Ez ŽĨƚĞŶ ƐĞƌǀĞƐ ĂƐ Ă ĐŽŶǀĞŶĞƌ͕ ďƌŝŶŐŝŶŐ ƚŽŐĞƚŚĞƌ ƚŚĞ ǀĂƌŝŽƵƐ ƉƵďůŝĐ ĂŶĚ ƉƌŝǀĂƚĞ ƐĞĐƚŽƌ ƐƚĂŬĞŚŽůĚĞƌƐ ǁŚŽ ƐŚĂƌĞ Ă ǀĞƐƚĞĚ ŝŶƚĞƌĞƐƚ ŝŶ Ă ƉƌŽďůĞŵ͘ Ŷ ĞǆĂŵƉůĞ ŽĨ ƚŚŝƐ ƌŽůĞ ǁĂƐ Ă ŐƌŽƵƉ ĐĂůůĞĚ ƚŽŐĞƚŚĞƌ ďǇ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ ŝŶ ϮϬϬϱ ƚŽ ĂĚĚƌĞƐƐ ƚŚĞ ƉŽƚĞŶƚŝĂů ĞůŝŵŝŶĂƚŝŽŶ ŽĨ ƐĐŚŽŽů ŶƵƌƐĞƐ ŝŶ ƚŚĞ ƵĨĨĂůŽ WƵďůŝĐ ^ĐŚŽŽůƐ͘ tŚŝůĞ ƚŚĞ ĐŽƐƚ ƚŽ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ ŽĨ ĨĂĐŝůŝƚĂƚŝŶŐ ƚŚĞƐĞ ĚŝƐĐƵƐƐŝŽŶƐ ǁĂƐ ŵŝŶŝŵĂů͕ ƚŚĞ ŽƵƚĐŽŵĞ ǁĂƐ ƐŝŐŶŝĨŝĐĂŶƚ͗ ƉƵďůŝĐ ĨƵŶĚŝŶŐ ǁĂƐ ƐĞĐƵƌĞĚ ƚŽ ĞǆƉĂŶĚ ƚŚĞ ƐĐŚŽŽů ŶƵƌƐĞ ƉƌŽŐƌĂŵ ďĞǇŽŶĚ ƉƌĞǀŝŽƵƐ ƐƚĂĨĨŝŶŐ ůĞǀĞůƐ͕ ǁŝƚŚ ƉŽƚĞŶƚŝĂů ŝŵƉĂĐƚ ŽŶ ƚŚĞ ŚĞĂůƚŚ ŽĨ ƚĞŶƐ ŽĨ ƚŚŽƵƐĂŶĚƐ ŽĨ ƵĨĨĂůŽ ĐŚŝůĚƌĞŶ͘ tŚŝůĞ ƚŚĞ ŵĂũŽƌŝƚǇ ŽĨ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ŐƌĂŶƚŵĂŬŝŶŐ ŝƐ ĚŽŶĞ ƚŚƌŽƵŐŚ Z&WƐ͕ ƉƌŽŐƌĂŵ ĂŶŶŽƵŶĐĞŵĞŶƚƐ ĂŶĚ ĐŽŶǀĞŶŝŶŐ͕ ŽĐĐĂƐŝŽŶĂů ƵŶƐŽůŝĐŝƚĞĚ ƉƌŽƉŽƐĂůƐ ĂƌĞ ĐŽŶƐŝĚĞƌĞĚ͘ dŽ ďĞ ĐŽŶƐŝĚĞƌĞĚ ĨŽƌ ĨƵŶĚŝŶŐ͕ ƚŚĞƐĞ ŵƵƐƚ ďĞ ƌĞůĞǀĂŶƚ ƚŽ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ĨŽĐƵƐ ĂƌĞĂƐ͘ DĂŶǇ ŽĨ ƚŚĞƐĞ ƉƌŽƉŽƐĂůƐ ĚĞĂů ǁŝƚŚ ƚŝŵĞůǇ ĐŽŵŵƵŶŝƚǇ ĞĨĨŽƌƚƐ ĂŶĚͬŽƌ ĐŽŵƉƌĞŚĞŶƐŝǀĞ ĐŽŵŵƵŶŝƚǇ ŚĞĂůƚŚ ŝƐƐƵĞƐ͘ hŶƐŽůŝĐŝƚĞĚ ƉƌŽƉŽƐĂůƐ ĂƌĞ ƌĞǀŝĞǁĞĚ ďǇ ƐƚĂĨĨ͕ ĂŶĚ ĚĞƚĞƌŵŝŶĂƚŝŽŶƐ ĂƌĞ ŵĂĚĞ ĂƐ ĂƉƉƌŽƉƌŝĂƚĞ͘ ĚŽƉƚĞĚ ďǇ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŝŶ :ƵůǇ͕ ϮϬϬϱ

,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ĨŽƌ tĞƐƚĞƌŶ Θ ĞŶƚƌĂů EĞǁ zŽƌŬ

Section 2.2

REGIONAL ALLOCATION The Board of Trustees views the Foundation funds as community assets and has adopted the following rationale for allocating benefit of funds expended for local and regional programs between Western and Central New York.

1. The total proceeds from the sale of Vytra to be made available to Western New York. 2. All other proceeds to be made available between Western New York and Central New York proportionate to the population of the counties in Western New York and Central New York in which Univera had a program presence at the time of its merger with Excellus. 3. Grant fund allocations for inter-regional (Western New York together with Central New York) programs and supra-regional (beyond Western New York and Central New York) programs shall require approval by affirmative vote of a supra majority* of the members of the Board of Trustees of the Foundation. *

Supra majority is defined as a majority of the Western New York Trustees plus a majority of the Central New York Trustees.

ED note: At the time the resolution was adopted, after a series of meetings of the appointed allocation task group, the Board was focused on determining and assuring entitlements of each region to the most appropriate share of philanthropic benefit reduced to dollar terms. This was not intended to preclude whatever degree of unified concept and program development might be attainable as the foundation approached actual operations. The Treasurer of the Foundation shall be responsible for an annual review and update by the Finance and Investment Committee of the actual percentage allocation of funds to be applied for the benefit of each region. 2012 Allocation is: 2011 Allocation is: 2010 Allocation is: 2009 Allocation is: 2008 Allocation is: 2007 Allocation is: 2006 Allocation is: 2005 Allocation is: 2004 Allocation is:

69% WNY 70% WNY 71% WNY 72% WNY 73% WNY 74% WNY 76% WNY 78% WNY 80% WNY

31% CNY 30% CNY 29% CNY 28% CNY 27% CNY 26% CNY 24% CNY 22% CNY 20% CNY

Health Foundation for Western & Central New York

Section 2.2

The following principles were adopted by the Board on May 17, 2006 to guide the implementation of this allocation formula: 1.

In our annual spending plan, we should aim for rough compliance with the formula.

When new projects come for approval to the Board, the writeup should indicate how the allocation formula would be applied against that project (i.e., # of grantees in each region, % of dollars actually spent, etc.)

Before the annual meeting of the Board, the staff should prepare the retrospective regional allocation calculation and present it to an appropriate committee for review [NOTE: Committee to be determined by Chair; can be either a standing committee or an ad hoc committee.]

At the annual meeting of the Board, the committee will present the findings and make a recommendation to the board concerning any action to be taken. The board will then decide to either:

accept that year’s spending as appropriate,

acknowledge any imbalance but require no rebalancing; or

determine that an adjustment in spending should be made to bring the formula back into balance. If this is the Board’s decision, the time horizon for that adjustment would be the end of the FOLLOWING fiscal year (as an example, if such a determination was made in March 2006, the goal would be to have achieved balance by December 2007.) This gives the necessary time for making appropriate and thoughtful investments to achieve balance.

On certain programs, the Board may decide at the time of project approval to waive the formula’s application to that program.

Adopted by the Board of Trustees on March 20, 2002 Revised by the Board of Trustees on May 14, 2005 Revised by the Board of Trustees on March 22, 2006 Revised by the Board of Trustees on January 17, 2007 Revised by the Board of Trustees on November 27, 2007 Revised by the Board of Trustees on January 21, 2009 Revised by the Board of Trustees on March 17, 2010 Revised by the Board of Trustees on March 24, 2011 Revised by the Board of Trustees on March 28, 2012

Health Foundation for Western & Central New York

Section 2.ϯ

^D >> 'Z Ed^ WZK'Z D WŽůŝĐǇ ĂŶĚ WƌŽĐĞĚƵƌĞ

/Ŷ ĞĐĞŵďĞƌ ϮϬϮϭ͕ ƚŚĞ ŽĂƌĚ ĂƉƉƌŽǀĞĚ Ă ^ŵĂůů 'ƌĂŶƚƐ WƌŽŐƌĂŵ ǁŝƚŚ ĂŶ ĂƉƉƌŽǀĂů ůŝŵŝƚ ŽĨ ƵƉ ƚŽ ΨϱϬ͕ϬϬϬ͘ dŚĞ ŝŶƚĞŶƚ ŽĨ ƚŚĞ ^ŵĂůů 'ƌĂŶƚƐ WƌŽŐƌĂŵ ŝƐ ƚŽ ŐŝǀĞ ƚŚĞ WƌĞƐŝĚĞŶƚ ĨůĞǆŝďŝůŝƚǇ ƚŽ ĂǁĂƌĚ ŐƌĂŶƚ ĨƵŶĚƐ ƚŽ ƐƵƉƉŽƌƚ ŽƵƌ ƉŚŝůĂŶƚŚƌŽƉŝĐ ŐŽĂůƐ ŝŶ ƚŚĞ ĐŽŵŵƵŶŝƚǇ ǁŝƚŚŽƵƚ ƌĞƋƵŝƌŝŶŐ ĂĚǀĂŶĐĞ ĂƉƉƌŽǀĂů ďǇ ƚŚĞ ŽĂƌĚ͘ &ƵƌƚŚĞƌ͕ ŝƚ ǁŝůů ĂůůŽǁ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ ƚŽ ďĞ ŵŽƌĞ ƌĞƐƉŽŶƐŝǀĞ ƚŽ ƚŚĞ ĐŽŵŵƵŶŝƚǇ ĂŶĚ ƌĞĚƵĐĞ ƚŚĞ ƚŝŵĞ ŝƚ ƚĂŬĞƐ ƚŽ ĂĐƚ ŽŶ ĐŽŵŵƵŶŝƚǇ ƌĞƋƵĞƐƚƐ͘ dŚŝƐ ƉƌŽŐƌĂŵ ƌĞƉůĂĐĞƐ ƚŚĞ ĨŽƌŵĞƌ ĚŝƐĐƌĞƚŝŽŶĂƌǇ ĨƵŶĚŝŶŐ ƉƌŽŐƌĂŵ͘ ^ŵĂůů 'ƌĂŶƚƐ WƌŽŐƌĂŵ ƐƉĞŶĚŝŶŐ ǁŝůů ďĞ ůŝŵŝƚĞĚ ƚŽ ϭϱй ŽĨ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ĂŶŶƵĂů ĚŝƐƚƌŝďƵƚŝŽŶ ĂŵŽƵŶƚ͘ /Ĩ ƚŚĂƚ ƚŚƌĞƐŚŽůĚ ŝƐ ƌĞĂĐŚĞĚ͕ ƚŚĞ WƌĞƐŝĚĞŶƚ ŵĂǇ ƌĞƋƵĞƐƚ ĨƌŽŵ ƚŚĞ ŽĂƌĚ ƚŚĂƚ ƚŚĞ ůŝŵŝƚ ďĞ ŝŶĐƌĞĂƐĞĚ ĨŽƌ ƚŚĞ ĚƵƌĂƚŝŽŶ ŽĨ ƚŚĞ ĐĂůĞŶĚĂƌ ǇĞĂƌ͘ A.

WƌŽƉŽƐĂůƐ͗

tŚĞŶ ƉƌŽŐƌĂŵ ƐƚĂĨĨ ƌĞĐĞŝǀĞ Ă ƌĞƋƵĞƐƚ Žƌ ƉƌŽƉŽƐĂů ĨŽƌ ΨϱϬ͕ϬϬϬ Žƌ ůĞƐƐ͕ ƚŚĞǇ ǁŝůů ƌĞǀŝĞǁ ƚŚĞ ƌĞƋƵĞƐƚ ǁŝƚŚ ƚŚĞ WƌĞƐŝĚĞŶƚ ƚŽ ĚĞƚĞƌŵŝŶĞ ǁŚĞƚŚĞƌ ƚŚĞ WƌĞƐŝĚĞŶƚ ǁĂŶƚƐ ƚŽ ĐŽŶƐŝĚĞƌ ƚŚĞ ƌĞƋƵĞƐƚ͘ ZĞƋƵĞƐƚƐ ƵƉ ƚŽ ΨϭϬ͕ϬϬϬ ǁŝůů ďĞ ƌĞǀŝĞǁĞĚ ƚĂŬŝŶŐ ŝŶƚŽ ĂĐĐŽƵŶƚ ƚŚĞ ĨŽůůŽǁŝŶŐ ĐŽŶƐŝĚĞƌĂƚŝŽŶƐ͗ x x x x

ZĞƋƵĞƐƚ ŝƐ ĂůŝŐŶĞĚ ǁŝƚŚ ƐƚƌĂƚĞŐŝĐ ƉƌŝŽƌŝƚŝĞƐ ƐĞƚ ďǇ ĐƵƌƌĞŶƚ ƐƚƌĂƚĞŐŝĐ ƉůĂŶ ZĞƋƵĞƐƚ ƐƵƉƉŽƌƚƐ ǁŽƌŬ ĂůŝŐŶĞĚ ǁŝƚŚ ƉƌĞǀŝŽƵƐ ƉƌŝŽƌŝƚŝĞƐ ;ŝ͘Ğ͕͘ ĐŚŝůĚƌĞŶ ĚĞŶƚĂů ĐĂƌĞͿ ZĞƋƵĞƐƚ ĂĚĚƌĞƐƐĞƐ Ă ƉƌĞƐƐŝŶŐ ĐŽŵŵƵŶŝƚǇ ŶĞĞĚ ;ŝ͘Ğ͘ ƐƵƉƉŽƌƚŝŶŐ ƌĞĨƵŐĞĞ ƌĞƐĞƚƚůĞŵĞŶƚ ĂŐĞŶĐŝĞƐ ĞǆƉĞĐƚŝŶŐ Ă ƌĂƉŝĚ ŝŶĨůƵǆ ŽĨ ĨĂŵŝůŝĞƐͿ͘ &ƵŶĚƐ ǁŽƵůĚ ƐƵƉƉŽƌƚ ĞǆƉůŽƌĂƚŝŽŶ ŽĨ Ă ŶĞǁ ƉƌŽŐƌĂŵ ĐŽŶĐĞƉƚ ƚŚĂƚ ĨƵƌƚŚĞƌƐ ĐƵƌƌĞŶƚ ƐƚƌĂƚĞŐŝĐ ƉƌŝŽƌŝƚŝĞƐ͘

ZĞƋƵĞƐƚƐ ĂďŽǀĞ ΨϭϬ͕ϬϬϬ ǁŝůů ďĞ ƌĞǀŝĞǁĞĚ ƚĂŬŝŶŐ ŝŶƚŽ ĂĐĐŽƵŶƚ ƚŚĞ ĨŽůůŽǁŝŶŐ ĐŽŶƐŝĚĞƌĂƚŝŽŶƐ͗ x ZĞƋƵĞƐƚ ŝƐ ĂůŝŐŶĞĚ ǁŝƚŚ ƐƚƌĂƚĞŐŝĐ ƉƌŝŽƌŝƚŝĞƐ ƐĞƚ ďǇ ƚŚĞ ĐƵƌƌĞŶƚ ƐƚƌĂƚĞŐŝĐ ƉůĂŶ͘ x ZĞƋƵĞƐƚ ĨƵƌƚŚĞƌƐ ĐŽůůĂďŽƌĂƚŝŽŶ ĂŶĚ ƉĂƌƚŶĞƌƐŚŝƉ ǁŝƚŚ ŽƚŚĞƌ ƉŚŝůĂŶƚŚƌŽƉŝĐ ĨƵŶĚĞƌƐ͘ x WƌŝŽƌŝƚǇ ǁŝůů ďĞ ŐŝǀĞŶ ƚŽ ƐƵƉƉŽƌƚŝŶŐ ƉƌŽƉŽƐĂůƐ ĂůŝŐŶĞĚ ǁŝƚŚ ŵŝĚƚĞƌŵ ŐŽĂůƐ ƚŚĂƚ ŚĂǀĞ ďĞůŽǁ ĂǀĞƌĂŐĞ ĐŽŵŵŝƚŵĞŶƚƐ ƌĞůĂƚŝǀĞ ƚŽ ŽƚŚĞƌƐ͘

EŽ ŽƌŐĂŶŝǌĂƚŝŽŶ ƐŚĂůů ƌĞĐĞŝǀĞ ŵŽƌĞ ƚŚĂŶ ŽŶĞ ŐƌĂŶƚ ŽĨ ƚŚŝƐ ƐŝǌĞ ŝŶ Ă ƋƵĂƌƚĞƌ͕ ƵŶůĞƐƐ ƐĞƌǀŝŶŐ ĂƐ Ă ĨŝƐĐĂů ĂŐĞŶƚ͘

Health Foundation for Western & Central New York

Section 2.ϯ

WƌĞƐŝĚĞŶƚ ƉƉƌŽǀĂů͗

/Ĩ ƚŚĞ WƌĞƐŝĚĞŶƚ ĂƉƉƌŽǀĞƐ Ă ƌĞƋƵĞƐƚ ďĞ ĨƵŶĚĞĚ͕ ƚŚĞ WƌĞƐŝĚĞŶƚ ƐĞŶĚƐ ĂŶ ĞŵĂŝů ƚŽ ƚŚĞ sŝĐĞ WƌĞƐŝĚĞŶƚ ŽĨ WƌŽŐƌĂŵƐ͕ ĐŽƉǇŝŶŐ ƚŚĞ 'ƌĂŶƚƐ KĨĨŝĐĞƌ͕ ŝŶŝƚŝĂƚŝŶŐ ƚŚĞ ĐŽŶƚƌĂĐƚŝŶŐ ƉƌŽĐĞƐƐ͘ dŚĞ ĞŵĂŝů ƐŚŽƵůĚ ĐŽŶƚĂŝŶ ƚŚĞ ĨŽůůŽǁŝŶŐ ŝŶĨŽƌŵĂƚŝŽŶ͗ x x x x x ͘

EĂŵĞ ŽĨ ƚŚĞ ŐƌĂŶƚĞĞ ŽůůĂƌ ŵŽƵŶƚ dŝŵĞĨƌĂŵĞ ZĞŐŝŽŶĂů ůůŽĐĂƚŝŽŶ ƌŝĞĨ ĚĞƐĐƌŝƉƚŝŽŶ ŽĨ ƚŚĞ ƉƵƌƉŽƐĞ ƵĞ ŝůŝŐĞŶĐĞ͗

dŚĞ ƐĂŵĞ ĂƐ Ăůů ŽƚŚĞƌ ŐƌĂŶƚƐ͕ ĚƵĞ ĚŝůŝŐĞŶĐĞ ŵĂƚĞƌŝĂůƐ ĂƌĞ ƌĞƋƵĞƐƚĞĚ ĨƌŽŵ ƚŚĞ ĂƉƉůǇŝŶŐ ŽƌŐĂŶŝǌĂƚŝŽŶ͘ ͘

'ƌĂŶƚ ŐƌĞĞŵĞŶƚ͗

&ŽůůŽǁŝŶŐ ƚŚĞ ƉƌĞǀŝŽƵƐ ƐƚĞƉƐ͕ ƚŚĞ ƌĞƐƉŽŶƐŝďůĞ WƌŽŐƌĂŵ dĞĂŵ ŵĞŵďĞƌ ǁŚŽ ǁŽƌŬĞĚ ǁŝƚŚ ƚŚĞ WƌĞƐŝĚĞŶƚ ŽŶ ƚŚĞ ƌĞƋƵĞƐƚ ƉƌĞƉĂƌĞƐ Ă ŐƌĂŶƚ ĂŐƌĞĞŵĞŶƚ͘ ͘

ZĞƉŽƌƚ ƚŽ ŽĂƌĚ͗

^ƚĂĨĨ ǁŝůů ƉƌŽǀŝĚĞ Ă ƌĞƉŽƌƚ Ăƚ ƋƵĂƌƚĞƌůǇ ďŽĂƌĚ ŵĞĞƚŝŶŐƐ ƚŚĂƚ ƐƵŵŵĂƌŝǌĞƐ ƚŚĞ ^ŵĂůů 'ƌĂŶƚ &ƵŶĚŝŶŐ ĂǁĂƌĚƐ ĨŽƌ ƚŚĞ ƋƵĂƌƚĞƌ ĂůŽŶŐ ǁŝƚŚ ƚŚĞ ƚŽƚĂů zd ĐŽŵŵŝƚŵĞŶƚ ĂƐƐŽĐŝĂƚĞĚ ǁŝƚŚ ĂǁĂƌĚƐ ŽĨ ƚŚŝƐ ƐŝǌĞ͘ &͘

ǆĐĞƉƚŝŽŶƐ͗

/Ĩ ƚŚĞ WƌĞƐŝĚĞŶƚ ĚĞƚĞƌŵŝŶĞƐ ƚŚĂƚ Ă ƌĞƋƵĞƐƚ ƵƉ ƚŽ ΨϱϬ͕ϬϬϬ ŝƐ ŶŽƚ ĐůŽƐĞůǇ ĂůŝŐŶĞĚ ǁŝƚŚ ĐƌŝƚĞƌŝĂ ŽƵƚůŝŶĞĚ ĂďŽǀĞ͕ ďƵƚ ǁĂƌƌĂŶƚƐ ĐŽŶƐŝĚĞƌĂƚŝŽŶ͕ ƚŚĞ ƉƌŽƉŽƐĂů ǁŝůů ďĞ ďƌŽƵŐŚƚ ƚŽ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ͘

D E E Z ^d d

zͲ> t^ K& , >d, &KhE d/KE &KZ t ^d ZE Θ EdZ > E t zKZ<͕ /E ͘

ĚŽƉƚĞĚ ĂƐ ŽĨ͗ DĂƌĐŚ ϵ͕ ϮϬϮϮ

Ϭϱϵϱϳϵ͘ϬϬϬϬϬ ƵƐŝŶĞƐƐ ϭϯϬϮϴϮϱϯǀϳ

Zd/ > / EĂŵĞ͕ >ŽĐĂƚŝŽŶ ĂŶĚ WƵƌƉŽƐĞƐ ^ĞĐƚŝŽŶ ϭ͘ϭ

EĂŵĞ͘ dŚĞ ŶĂŵĞ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ŝƐ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ĨŽƌ tĞƐƚĞƌŶ Θ

ĞŶƚƌĂů EĞǁ zŽƌŬ͕ /ŶĐ͘ ;ƚŚĞ Η ŽƌƉŽƌĂƚŝŽŶΗͿ͘ ^ĞĐƚŝŽŶ ϭ͘Ϯ

>ŽĐĂƚŝŽŶ͘ dŚĞ ƉƌŝŶĐŝƉĂů ƉůĂĐĞ ŽĨ ďƵƐŝŶĞƐƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ƐŚĂůů ďĞ ŝŶ ƚŚĞ

ŽƵŶƚǇ ŽĨ ƌŝĞ ĂŶĚ ^ƚĂƚĞ ŽĨ EĞǁ zŽƌŬ͘ dŚĞ ŽƌƉŽƌĂƚŝŽŶ ŵĂǇ ŚĂǀĞ ŽĨĨŝĐĞƐ ĂŶĚ ƉůĂĐĞƐ ŽĨ ďƵƐŝŶĞƐƐ Ăƚ ƐƵĐŚ ŽƚŚĞƌ ƉůĂĐĞƐ ǁŝƚŚŝŶ ƚŚĞ ^ƚĂƚĞ ŽĨ EĞǁ zŽƌŬ ĂƐ ƐŚĂůů ďĞ ĚĞƚĞƌŵŝŶĞĚ ďǇ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ͘ ^ĞĐƚŝŽŶ ϭ͘ϯ

WƵƌƉŽƐĞƐ͘ dŚĞ ƉƵƌƉŽƐĞƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ƐŚĂůů ďĞ ĂƐ ƐĞƚ ĨŽƌƚŚ ŝŶ ŝƚƐ

ĞƌƚŝĨŝĐĂƚĞ ŽĨ /ŶĐŽƌƉŽƌĂƚŝŽŶ͕ ĂƐ ŵĂǇ ďĞ ĂŵĞŶĚĞĚ ĨƌŽŵ ƚŝŵĞ ƚŽ ƚŝŵĞ͘ ;ĂͿ

dŽ ƉƌŽŵŽƚĞ ĂŶĚ ƐƵƉƉŽƌƚ ƉƌŽŐƌĂŵƐ ĂŶĚ ĂĐƚŝǀŝƚŝĞƐ ƐĞƌǀŝŶŐ ƚŽ ŝŵƉƌŽǀĞ ƚŚĞ ŚĞĂůƚŚ ŽĨ ƌĞƐŝĚĞŶƚƐ ŽĨ ƚŚĞ hƉƐƚĂƚĞ EĞǁ zŽƌŬ ĐŽŵŵƵŶŝƚǇ ĂŶĚ ĞŶŚĂŶĐŝŶŐ ƚŚĞ ƉƵďůŝĐ͛Ɛ ŬŶŽǁůĞĚŐĞ ŽĨ ŚĞĂůƚŚ ŵĂƚƚĞƌƐ͘

;ďͿ

dŽ ƌĞĐĞŝǀĞ ĂŶĚ ŵĂŝŶƚĂŝŶ Ă ĨƵŶĚ Žƌ ĨƵŶĚƐ ŽĨ ƌĞĂů Žƌ ƉĞƌƐŽŶĂů ƉƌŽƉĞƌƚǇ͕ Žƌ ďŽƚŚ͕ ĂŶĚ ƐƵďũĞĐƚ ƚŽ ƚŚĞ ƌĞƐƚƌŝĐƚŝŽŶƐ ĂŶĚ ůŝŵŝƚĂƚŝŽŶƐ ŚĞƌĞŝŶĂĨƚĞƌ ƐĞƚ ĨŽƌƚŚ͕ ƚŽ ƵƐĞ ĂŶĚ ĂƉƉůǇ ƚŚĞ ǁŚŽůĞ Žƌ ĂŶǇ ƉĂƌƚ ŽĨ ƚŚĞ ŝŶĐŽŵĞ ƚŚĞƌĞĨƌŽŵ ĂŶĚ ƚŚĞ ƉƌŝŶĐŝƉĂů ƚŚĞƌĞŽĨ ĞǆĐůƵƐŝǀĞůǇ ĨŽƌ ƚŚĞ ĞŶĐŽƵƌĂŐĞŵĞŶƚ ĂŶĚ ƉƌŽŵŽƚŝŽŶ ŽĨ ĐŚĂƌŝƚĂďůĞ͕ ƐĐŝĞŶƚŝĨŝĐ ĂŶĚ ĞĚƵĐĂƚŝŽŶĂů ƉƵƌƉŽƐĞƐ ďǇ ǀŽůƵŶƚĂƌǇ ŐƌĂŶƚƐ͕ ƚŽ ŝŶĚŝǀŝĚƵĂůƐ͕ ŝŶƐƚŝƚƵƚŝŽŶƐ ͕ ĂŶĚ ŽƌŐĂŶŝǌĂƚŝŽŶƐ͕ Žƌ ďǇ ĐŽŶƚƌŝďƵƚŝŽŶƐ ƚŽ ŽƌŐĂŶŝǌĂƚŝŽŶƐ ƚŚĂƚ ƋƵĂůŝĨǇ ĂƐ ĞǆĞŵƉƚ ŽƌŐĂŶŝǌĂƚŝŽŶƐ ƵŶĚĞƌ ^ĞĐƚŝŽŶ ϱϬů;ĐͿ;ϯͿ ŽĨ ƚŚĞ /ŶƚĞƌŶĂů ZĞǀĞŶƵĞ ŽĚĞ ĂŶĚ ŝƚƐ ƌĞŐƵůĂƚŝŽŶƐ ĂƐ ƚŚĞǇ ŶŽǁ ĞǆŝƐƚ Žƌ ĂƐ ƚŚĞǇ ŵĂǇ ŚĞƌĞĂĨƚĞƌ ďĞ ĂŵĞŶĚĞĚ͘

;ĐͿ

dŽ ĨŽƐƚĞƌ ƚŚĞ ĂĚǀĂŶĐĞŵĞŶƚ ŽĨ ƌĞƐĞĂƌĐŚ ŝŶ ƚŚĞ ŽƌŐĂŶŝǌĂƚŝŽŶ ĂŶĚ ĚĞůŝǀĞƌǇ ŽĨ ŵĞĚŝĐĂů ĂŶĚ ŚĞĂůƚŚ ƐĞƌǀŝĐĞƐ͕ ĂŶĚ ƐĐŝĞŶƚŝĨŝĐ ŵĞĚŝĐĂů ƌĞƐĞĂƌĐŚ͘

;ĚͿ

dŽ ƐƵƉƉŽƌƚ ƚƌĂŝŶŝŶŐ ŽĨ ŚĞĂůƚŚ ƉƌŽĨĞƐƐŝŽŶĂůƐ ĂŶĚ ĂůůŝĞĚ ƉĞƌƐŽŶŶĞů ƚŽ ďĞƚƚĞƌ ƉĞƌĨŽƌŵ ŚĞĂůƚŚ ƐĞƌǀŝĐĞƐ͘

,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ĨŽƌ tĞƐƚĞƌŶ Θ ĞŶƚƌĂů EĞǁ zŽƌŬ

;ĞͿ

dŽ ƌĞĐĞŝǀĞ ĂŶĚ ĂĐĐĞƉƚ ŐŝĨƚƐ͕ ŐƌĂŶƚƐ͕ ďĞƋƵĞƐƚƐ ĂŶĚ ĚĞǀŝƐĞƐ ĂŶĚ ƚŽ ĞŶƚĞƌ ŝŶƚŽ ĐŽŶƚƌĂĐƚƐ ƚŽ ĚŽ Žƌ ŚĂǀĞ ĚŽŶĞ ĂŶǇ ĂŶĚ Ăůů ůĂǁĨƵů ĂĐƚƐ ĂŶĚ ƚŚŝŶŐƐ ǁŚŝĐŚ ŵĂǇ ďĞ ŶĞĐĞƐƐĂƌǇ͕ ƵƐĞĨƵů͕ ƐƵŝƚĂďůĞ Žƌ ƉƌŽƉĞƌ ĨŽƌ ƚŚĞ ĨƵƌƚŚĞƌĂŶĐĞ͕ ĂĐĐŽŵƉůŝƐŚŵĞŶƚ Žƌ ĂƚƚĂŝŶŵĞŶƚ ŽĨ ĂŶǇ Žƌ Ăůů ŽĨ ƚŚĞ ƉƵƌƉŽƐĞƐ Žƌ ƉŽǁĞƌƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͘

;ĨͿ

Ɛ Ă ŵĞĂŶƐ ŽĨ ĂĐĐŽŵƉůŝƐŚŝŶŐ ƚŚĞ ĨŽƌĞŐŽŝŶŐ ƉƵƌƉŽƐĞƐ͕ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ƐŚĂůů ŚĂǀĞ Ăůů ŽĨ ƚŚĞ ƉŽǁĞƌƐ ƐĞƚ ĨŽƌƚŚ ŝŶ ^ĞĐƚŝŽŶ ϮϬϮ ŽĨ ƚŚĞ EŽƚͲ&ŽƌͲWƌŽĨŝƚ ŽƌƉŽƌĂƚŝŽŶ >Ăǁ ŽĨ ƚŚĞ ^ƚĂƚĞ ŽĨ EĞǁ zŽƌŬ ĂŶĚ ŝŶ ŐĞŶĞƌĂů͕ ƚŽ ĞǆĞƌĐŝƐĞ ƐƵĐŚ ƉŽǁĞƌƐ ǁŚŝĐŚ ĂƌĞ ŶŽǁ Žƌ ŚĞƌĞĂĨƚĞƌ ŵĂǇ ďĞ ĐŽŶĨĞƌƌĞĚ ďǇ ůĂǁ ƵƉŽŶ ĂŶ ĞŶƚŝƚǇ ŽƌŐĂŶŝǌĞĚ ĨŽƌ ƐƵĐŚ ƉƵƌƉŽƐĞƐ͕ Žƌ ĐŽŶĚƵĐŝǀĞ ƚŽ ƚŚĞ ĂƚƚĂŝŶŵĞŶƚ ŽĨ ƚŚĞ ƉƵƌƉŽƐĞƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͕ ƐƵďũĞĐƚ ƚŽ ƐƵĐŚ ůŝŵŝƚĂƚŝŽŶƐ ĂƐ ĂƌĞ Žƌ ŵĂǇ ďĞ ƉƌĞƐĐƌŝďĞĚ ďǇ ůĂǁ͘ Zd/ > // DĞŵďĞƌƐŚŝƉ

^ĞĐƚŝŽŶ Ϯ͘ϭ

dŚĞ ŽƌƉŽƌĂƚŝŽŶ͕ ďĞŝŶŐ Ă ĐŚĂƌŝƚĂďůĞ ĐŽƌƉŽƌĂƚŝŽŶ ĂƐ ĚĞĨŝŶĞĚ ŝŶ ^ĞĐƚŝŽŶ ϭϬϮ ŽĨ ƚŚĞ EĞǁ zŽƌŬ EŽƚͲĨŽƌͲWƌŽĨŝƚ ŽƌƉŽƌĂƚŝŽŶ >Ăǁ ;ƚŚĞ ΗEW >ΗͿ͕ ŚĂƐ ŶŽ ŵĞŵďĞƌƐ͘ Zd/ > /// ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ

^ĞĐƚŝŽŶ ϯ͘ϭ

DĂŶĂŐĞŵĞŶƚ ŽĨ ŽƌƉŽƌĂƚĞ ĨĨĂŝƌƐ͘ ǆĐĞƉƚ ĂƐ ŽƚŚĞƌǁŝƐĞ ƉƌŽǀŝĚĞĚ ďǇ ĂƉƉůŝĐĂďůĞ ůĂǁ͕ ƚŚĞ ĞƌƚŝĨŝĐĂƚĞ ŽĨ ůŶĐŽƌƉŽƌĂƚŝŽŶ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ Žƌ ƚŚĞƐĞ ǇͲ ůĂǁƐ͕ ƚŚĞ ĂĐƚŝǀŝƚŝĞƐ͕ ƉƌŽƉĞƌƚǇ ĂŶĚ ĂĨĨĂŝƌƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ƐŚĂůů ďĞ ŵĂŶĂŐĞĚ ďǇ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ;ƚŚĞ Η ŽĂƌĚΗͿ͘ dŚĞ ŽĂƌĚ ŵĂǇ ĂĚŽƉƚ ƐƵĐŚ ƌƵůĞƐ ĂŶĚ ƌĞŐƵůĂƚŝŽŶƐ ĨŽƌ ƚŚĞ ĐŽŶĚƵĐƚ ŽĨ ŝƚƐ ŵĞĞƚŝŶŐƐ ĂŶĚ ƚŚĞ ŵĂŶĂŐĞŵĞŶƚ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ĂƐ ŝƚ ŵĂǇ ĚĞĞŵ ƉƌŽƉĞƌ͕ ŶŽƚ ŝŶĐŽŶƐŝƐƚĞŶƚ ǁŝƚŚ ĂƉƉůŝĐĂďůĞ ůĂǁ͕ ƚŚĞ ĞƌƚŝĨŝĐĂƚĞ ŽĨ ůŶĐŽƌƉŽƌĂƚŝŽŶ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ Žƌ ƚŚĞƐĞ ǇͲůĂǁƐ͘

Ϭϱϵϱϳϵ͘ϬϬϬϬϬ ƵƐŝŶĞƐƐ ϭϯϬϮϴϮϱϯǀϳ

^ĞĐƚŝŽŶ ϯ͘Ϯ

EƵŵďĞƌ ĂŶĚ ŽŵƉŽƐŝƚŝŽŶ͘ dŚĞ ŶƵŵďĞƌ ŽĨ dƌƵƐƚĞĞƐ ĐŽŶƐƚŝƚƵƚŝŶŐ ƚŚĞ ĞŶƚŝƌĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ƐŚĂůů ďĞ ƐĞƚ ĨƌŽŵ ƚŝŵĞ ƚŽ ƚŝŵĞ ďǇ ƚŚĞ ŽĂƌĚ͕ ĂŶĚ ƐŚĂůů ďĞ ŶŽƚ ůĞƐƐ ƚŚĂŶ ŶŝŶĞ ;ϵͿ dƌƵƐƚĞĞƐ͕ ŶŽƌ ŵŽƌĞ ƚŚĂŶ ƚǁĞŶƚǇͲĨŝǀĞ ;ϮϱͿ dƌƵƐƚĞĞƐ͘ dŚĞ ŽĂƌĚ ŵĂǇ ŝŶĐƌĞĂƐĞ Žƌ ĚĞĐƌĞĂƐĞ ƚŚĞ ŶƵŵďĞƌ ŽĨ dƌƵƐƚĞĞƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ďǇ Ă ǀŽƚĞ ŽĨ ƚŚĞ ŵĂũŽƌŝƚǇ ŽĨ ƚŚĞ ĞŶƚŝƌĞ ŽĂƌĚ͕ ďƵƚ ƚŚĞ ŶƵŵďĞƌ ŽĨ ǀŽƚŝŶŐ dƌƵƐƚĞĞƐ ĐŽŶƐƚŝƚƵƚŝŶŐ ƚŚĞ ĞŶƚŝƌĞ ŽĂƌĚ ŵĂǇ ŶŽƚ ďĞ ůĞƐƐ ƚŚĂŶ ƚŚƌĞĞ͘ EŽ ĚĞĐƌĞĂƐĞ ŝŶ ƚŚĞ ŶƵŵďĞƌ ŽĨ dƌƵƐƚĞĞƐ ǁŝůů ƐŚŽƌƚĞŶ ƚŚĞ ƚĞƌŵ ŽĨ ĂŶǇ ŝŶĐƵŵďĞŶƚ dƌƵƐƚĞĞ͘ ŵĂũŽƌŝƚǇ ŽĨ ƚŚĞ ĞŶƚŝƌĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ƐŚĂůů ďĞ ŝŶĚŝǀŝĚƵĂůƐ ǁŚŽ ĂƌĞ ƌĞƐŝĚĞŶƚƐ ŽĨ tĞƐƚĞƌŶ EĞǁ zŽƌŬ Žƌ ǁŚŽ ǁĞƌĞ ƌĞƐŝĚĞŶƚƐ ŽĨ tĞƐƚĞƌŶ EĞǁ zŽƌŬ Ăƚ ƚŚĞ ƚŝŵĞ ŽĨ ƚŚĞŝƌ ŝŶŝƚŝĂů ĞůĞĐƚŝŽŶ ƚŽ ƚŚĞ ŽĂƌĚ͘ ƚ ůĞĂƐƚ ĨŽƌƚǇ ĨŝǀĞ ƉĞƌĐĞŶƚ ;ϰϱйͿ ŽĨ ƚŚĞ ĞŶƚŝƌĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ƐŚĂůů ďĞ ŝŶĚŝǀŝĚƵĂůƐ ǁŚŽ ĂƌĞ ƌĞƐŝĚĞŶƚƐ ŽĨ ĞŶƚƌĂů EĞǁ zŽƌŬ Žƌ ǁŚŽ ǁĞƌĞ ƌĞƐŝĚĞŶƚƐ ŽĨ ĞŶƚƌĂů EĞǁ zŽƌŬ Ăƚ ƚŚĞ ƚŝŵĞ ŽĨ ƚŚĞŝƌ ŝŶŝƚŝĂů ĞůĞĐƚŝŽŶ ƚŽ ƚŚĞ ŽĂƌĚ͘ ůů ŽĨ ƚŚĞ dƌƵƐƚĞĞƐ ƐŚĂůů ďĞ Ăƚ ůĞĂƐƚ ϭϴ ǇĞĂƌƐ ŽĨ ĂŐĞ͘ Ɛ ƵƐĞĚ ŝŶ ƚŚĞƐĞ ǇͲůĂǁƐ͕ ƚŚĞ ƚĞƌŵ ΗĞŶƚŝƌĞ ŽĂƌĚΗ ŵĞĂŶƐ ƚŚĞ ƚŽƚĂů ŶƵŵďĞƌ ŽĨ dƌƵƐƚĞĞƐ ĞŶƚŝƚůĞĚ ƚŽ ǀŽƚĞ ǁŚŝĐŚ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ǁŽƵůĚ ŚĂǀĞ ŝĨ ƚŚĞƌĞ ǁĞƌĞ ŶŽ ǀĂĐĂŶƚ dƌƵƐƚĞĞ ƉŽƐŝƚŝŽŶƐ ;ŝ͘Ğ͕͘ ƚŚĞ ŶƵŵďĞƌ ŽĨ dƌƵƐƚĞĞƐ ƐĞƚ ďǇ ƚŚĞ ŽĂƌĚ͕ ƐŽ ůŽŶŐ ĂƐ ƚŚĞƌĞ ĂƌĞ ƚŚƌĞĞ Žƌ ŵŽƌĞ͕ ĂŶĚ ŝĨ ŶŽƚ ƐŽ ƐĞƚ ďǇ ƚŚĞ ŽĂƌĚ͕ ƚŚĞ ŶƵŵďĞƌ ŽĨ dƌƵƐƚĞĞƐ ƚŚĂƚ ǁĞƌĞ ĞůĞĐƚĞĚ ĂƐ ŽĨ ƚŚĞ ŵŽƐƚ ƌĞĐĞŶƚůǇ ŚĞůĚ ĞůĞĐƚŝŽŶ ŽĨ dƌƵƐƚĞĞƐ ŝŶ ĂĚĚŝƚŝŽŶ ƚŽ ĂŶǇ ƌĞŵĂŝŶŝŶŐ dƌƵƐƚĞĞƐ ǁŚŽƐĞ ƚĞƌŵƐ ŚĂǀĞ ŶŽƚ ǇĞƚ ĞǆƉŝƌĞĚͿ͘

^ĞĐƚŝŽŶ ϯ͘ϯ ůĞĐƚŝŽŶƐ ĂŶĚ dĞƌŵ͘ ǆĐĞƉƚ ĂƐ ŽƚŚĞƌǁŝƐĞ ƉƌŽǀŝĚĞĚ ďǇ ĂƉƉůŝĐĂďůĞ ůĂǁ Žƌ ƚŚĞƐĞ ǇͲůĂǁƐ͕ ĞĂĐŚ dƌƵƐƚĞĞ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ƐŚĂůů ďĞ ĞůĞĐƚĞĚ Ăƚ ƚŚĞ ĂŶŶƵĂů ŵĞĞƚŝŶŐ ĂŶĚ ƐŚĂůů ƐĞƌǀĞ ĨŽƌ Ă ƚĞƌŵ ŽĨ ƚŚƌĞĞ ;ϯͿ ǇĞĂƌƐ ĂŶĚ ƐŚĂůů ŚŽůĚ ŽĨĨŝĐĞ ƵŶƚŝů ŚŝƐ Žƌ ŚĞƌ ƐƵĐĐĞƐƐŽƌ ŚĂƐ ďĞĞŶ ĚƵůǇ ĞůĞĐƚĞĚ ĂŶĚ ƋƵĂůŝĨŝĞĚ͕ Žƌ ƵŶƚŝů ŽƚŚĞƌǁŝƐĞ ƌĞŵŽǀĞĚ Žƌ ƌĞƐŝŐŶĞĚ ĂƐ ŚĞƌĞŝŶĂĨƚĞƌ ƉƌŽǀŝĚĞĚ͘ dŚĞ dƌƵƐƚĞĞƐ ƐŚĂůů ďĞ ĚŝǀŝĚĞĚ ŝŶƚŽ ƚŚƌĞĞ ĐůĂƐƐĞƐ ŽĨ ĂƉƉƌŽǆŝŵĂƚĞůǇ ĞƋƵĂů ƐŝǌĞ͕ ĞĂĐŚ ĐŽŶƐŝƐƚŝŶŐ ĂƐ ŶĞĂƌůǇ ĂƐ ƉŽƐƐŝďůĞ ŽĨ ŽŶĞͲƚŚŝƌĚ ŽĨ ƚŚĞ ǁŚŽůĞ ŶƵŵďĞƌ ŽĨ Ϭϱϵϱϳϵ͘ϬϬϬϬϬ ƵƐŝŶĞƐƐ ϭϯϬϮϴϮϱϯǀϳ

dƌƵƐƚĞĞƐ͕ ĂŶĚ ƚŚĞ ĞůĞĐƚŝŽŶ ŽĨ dƌƵƐƚĞĞƐ ǁŝůů ďĞ ƐƚĂŐŐĞƌĞĚ ƐŽ ƚŚĂƚ ŽŶĞ ĐůĂƐƐ ŽĨ dƌƵƐƚĞĞƐ ŝƐ ĞůĞĐƚĞĚ ĞĂĐŚ ǇĞĂƌ ĨŽƌ Ă ƚĞƌŵ ŽĨ ƚŚƌĞĞ ;ϯͿ ǇĞĂƌƐ ĂŶĚ ƵŶƚŝů ŚŝƐ Žƌ ŚĞƌ ƐƵĐĐĞƐƐŽƌ ŚĂƐ ďĞĞŶ ĞůĞĐƚĞĚ ĂŶĚ ƋƵĂůŝĨŝĞĚ͖ ƉƌŽǀŝĚĞĚ͕ ŚŽǁĞǀĞƌ͕ ƚŚĂƚ dƌƵƐƚĞĞƐ ŵĂǇ

ďĞ ĞůĞĐƚĞĚ ƚŽ Ă ƚĞƌŵ ŽĨ ůĞƐƐ ƚŚĂŶ ƚŚƌĞĞ ;ϯͿ ǇĞĂƌƐ ŝĨ ŶĞĐĞƐƐĂƌǇ ƚŽ ŵĂŝŶƚĂŝŶ ĂƉƉƌŽǆŝŵĂƚĞůǇ ĞƋƵĂů ĐůĂƐƐ ƐŝǌĞƐ͘ dƌƵƐƚĞĞ ŚĂǀŝŶŐ ƐĞƌǀĞĚ ƚŚƌĞĞ ;ϯͿ ĐŽŶƐĞĐƵƚŝǀĞ ƚŚƌĞĞͲǇĞĂƌ ƚĞƌŵƐ ŵƵƐƚ ďĞ ĂďƐĞŶƚ ĨƌŽŵ ƚŚĞ ŽĂƌĚ Ăƚ ůĞĂƐƚ ŽŶĞ ;ϭͿ ǇĞĂƌ ŝŶ ŽƌĚĞƌ ƚŽ ďĞ ĞůŝŐŝďůĞ ĨŽƌ ƌĞͲĞůĞĐƚŝŽŶ͖ ƉƌŽǀŝĚĞĚ͕ ŚŽǁĞǀĞƌ͕ ƚŚĂƚ Ă dƌƵƐƚĞĞ ŵĂǇ Ĩŝůů Ă ƉĂƌƚŝĂů ƚĞƌŵ ǀĂĐĂŶĐǇ ŝŶ ĂĚĚŝƚŝŽŶ ƚŽ ƚŚĞ ƚŚƌĞĞ ;ϯͿ ĐŽŶƐĞĐƵƚŝǀĞ ƚŚƌĞĞͲ ǇĞĂƌ ƚĞϭŵƐ͘ ^ĞĐƚŝŽŶ ϯ͘ϰ ZĞƐŝŐŶĂƚŝŽŶ͘ dƌƵƐƚĞĞ ŵĂǇ ƌĞƐŝŐŶ Ăƚ ĂŶǇ ƚŝŵĞ ďǇ ŐŝǀŝŶŐ ǁƌŝƚƚĞŶ ŶŽƚŝĐĞ ŽĨ ƐƵĐŚ ƌĞƐŝŐŶĂƚŝŽŶ ƚŽ ƚŚĞ ŚĂŝƌ ŽĨ ƚŚĞ ŽĂƌĚ͘ hŶůĞƐƐ ŽƚŚĞƌǁŝƐĞ ƐƉĞĐŝĨŝĞĚ ŝŶ ƚŚĞ ŶŽƚŝĐĞ͕ ƚŚĞ ƌĞƐŝŐŶĂƚŝŽŶ ƐŚĂůů ƚĂŬĞ ĞĨĨĞĐƚ ƵƉŽŶ ƌĞĐĞŝƉƚ ƚŚĞƌĞŽĨ ďǇ ƚŚĞ ŚĂŝƌ͕ ĂŶĚ ƚŚĞ ĂĐĐĞƉƚĂŶĐĞ ŽĨ ƚŚĞ ƌĞƐŝŐŶĂƚŝŽŶ ƐŚĂůů ŶŽƚ ďĞ ŶĞĐĞƐƐĂƌǇ ƚŽ ŵĂŬĞ ŝƚ ĞĨĨĞĐƚŝǀĞ͘ ^ĞĐƚŝŽŶ ϯ͘ϱ ZĞŵŽǀĂů͘ ŶǇ dƌƵƐƚĞĞ ŵĂǇ ďĞ ƌĞŵŽǀĞĚ Ăƚ ĂŶǇ ƚŝŵĞ ĨŽƌ ĐĂƵƐĞ ďǇ ĂĐƚŝŽŶ ŽĨ ƚŚĞ ŽĂƌĚ͕ ƉƌŽǀŝĚĞĚ ƚŚĂƚ ƚŚĞƌĞ ŝƐ Ă ƋƵŽƌƵŵ ŽĨ ŶŽƚ ůĞƐƐ ƚŚĂŶ Ă ŵĂũŽƌŝƚǇ ŽĨ ƚŚĞ ĞŶƚŝƌĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ƉƌĞƐĞŶƚ Ăƚ ƚŚĞ ŵĞĞƚŝŶŐ ŽĨ ƚŚĞ dƌƵƐƚĞĞƐ Ăƚ ǁŚŝĐŚ ƐƵĐŚ ĂĐƚŝŽŶ ŝƐ ƚĂŬĞŶ ĂŶĚ ƚŚĂƚ ƚŚĞ ŶŽƚŝĐĞ ŽĨ ƐƵĐŚ ŵĞĞƚŝŶŐ ƐƉĞĐŝĨŝĞƐ ƚŚĂƚ ƐƵĐŚ ƌĞŵŽǀĂů ƐŚĂůů ďĞ Ă ŵĂƚƚĞƌ ŽĨ ďƵƐŝŶĞƐƐ Ăƚ ƚŚĞ ŵĞĞƚŝŶŐ͘ ^ĞĐƚŝŽŶ ϯ͘ϲ &ŝůůŝŶŐ ŽĨ sĂĐĂŶĐŝĞƐ͘ EĞǁůǇ ĐƌĞĂƚĞĚ ƚƌƵƐƚĞĞƐŚŝƉƐ ƌĞƐƵůƚŝŶŐ ĨƌŽŵ ĂŶ ŝŶĐƌĞĂƐĞ ŝŶ ƚŚĞ ŶƵŵďĞƌ ŽĨ dƌƵƐƚĞĞƐ ĂŶĚ ǀĂĐĂŶĐŝĞƐ ŽĐĐƵƌƌŝŶŐ ŝŶ ƚŚĞ ŽĂƌĚ ĨŽƌ ĂŶǇ ƌĞĂƐŽŶ ǁŝůů ďĞ ĨŝůůĞĚ ďǇ Ă ǀŽƚĞ ŽĨ Ă ŵĂũŽƌŝƚǇ ŽĨ ƚŚĞ dƌƵƐƚĞĞƐ ƚŚĞŶ ŝŶ ŽĨĨŝĐĞ͕ ĞǀĞŶ ŝĨ ůĞƐƐ ƚŚĂŶ Ă ƋƵŽƌƵŵ ĞǆŝƐƚƐ͘ dƌƵƐƚĞĞ ĞůĞĐƚĞĚ ƚŽ Ĩŝůů Ă ǀĂĐĂŶĐǇ ǁŝůů ŚŽůĚ ŽĨĨŝĐĞ ƵŶƚŝů ƚŚĞ ŶĞǆƚ ĂŶŶƵĂů ŵĞĞƚŝŶŐ Ăƚ ǁŚŝĐŚ ƚŚĞ ĞůĞĐƚŝŽŶ ŽĨ dƌƵƐƚĞĞƐ ŝƐ ŝŶ ƚŚĞ ƌĞŐƵůĂƌ ŽƌĚĞƌ ŽĨ ďƵƐŝŶĞƐƐ͕ ĂŶĚ ƵŶƚŝů ŚŝƐ Žƌ ŚĞƌ ƐƵĐĐĞƐƐŽƌ ŝƐ ĞůĞĐƚĞĚ ĂŶĚ ƋƵĂůŝĨŝĞĚ͕ ŝŶ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ ^ĞĐƚŝŽŶ ϯ͘ϯ͘ ^ĞĐƚŝŽŶ ϯ͘ϳ ŶŶƵĂů DĞĞƚŝŶŐ͘ dŚĞ ĂŶŶƵĂů ŵĞĞƚŝŶŐ ŽĨ ƚŚĞ dƌƵƐƚĞĞƐ ƐŚĂůů ďĞ ŚĞůĚ ĨŽƌ ƚŚĞ ƉƵƌƉŽƐĞ ŽĨ ĞůĞĐƚŝŶŐ dƌƵƐƚĞĞƐ ĂŶĚ ŽĨĨŝĐĞƌƐ͕ ƌĞĐĞŝǀŝŶŐ Ă ƌĞƉŽƌƚ ďǇ ƚŚĞ WƌĞƐŝĚĞŶƚ ĂŶĚ ƚŚĞ dƌĞĂƐƵƌĞƌ ŽŶ ƚŚĞ ĂĐƚŝǀŝƚŝĞƐ ĂŶĚ ĨŝŶĂŶĐŝĂů ĐŽŶĚŝƚŝŽŶ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͕ ĂŶĚ ĨŽƌ ƚŚĞ ƉƵƌƉŽƐĞ ŽĨ ƚƌĂŶƐĂĐƚŝŶŐ ƐƵĐŚ ŽƚŚĞƌ ďƵƐŝŶĞƐƐ ĂƐ ŵĂǇ ƉƌŽƉĞƌůǇ ĐŽŵĞ ďĞĨŽƌĞ ƚŚĞ ŵĞĞƚŝŶŐ͘ dŚĞ ĂŶŶƵĂů ŵĞĞƚŝŶŐ ŽĨ ƚŚĞ ŽĂƌĚ ǁŝůů ďĞ ƚŚĞ ƌĞŐƵůĂƌ ŵĞĞƚŝŶŐ ŚĞůĚ ŝŶ :ƵŶĞ ĞĂĐŚ ǇĞĂƌ͕ Žƌ ƐƵĐŚ ŽƚŚĞƌ ƌĞŐƵůĂƌ ŵĞĞƚŝŶŐ ĚĞƐŝŐŶĂƚĞĚ ďǇ ƚŚĞ ŽĂƌĚ͘ Ϭϱϵϱϳϵ͘ϬϬϬϬϬ ƵƐŝŶĞƐƐ ϭϯϬϮϴϮϱϯǀϳ

^ĞĐƚŝŽŶ ϯ͘ϴ

ZĞŐƵůĂƌ DĞĞƚŝŶŐƐ͘ ZĞŐƵůĂƌ ŵĞĞƚŝŶŐƐ ŽĨ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ƐŚĂůů ďĞ ŚĞůĚ Ăƚ ƚŚĞ ƚŝŵĞ ĂŶĚ ƉůĂĐĞ ƚŽ ďĞ ĨŝǆĞĚ ďǇ ƚŚĞ ŽĂƌĚ͘

^ĞĐƚŝŽŶ ϯ͘ϵ

^ƉĞĐŝĂů DĞĞƚŝŶŐƐ͘ ^ƉĞĐŝĂů ŵĞĞƚŝŶŐƐ ŽĨ ƚŚĞ ŽĂƌĚ ŵĂǇ ďĞ ĐĂůůĞĚ ďǇ ƚŚĞ ŚĂŝƌ͕ ƚŚĞ sŝĐĞͲ ŚĂŝƌ͕ Žƌ ƚŚĞ WƌĞƐŝĚĞŶƚ͕ ĂŶĚ ŵƵƐƚ ďĞ ĐĂůůĞĚ ďǇ ĂŶǇ ƐƵĐŚ ŽĨĨŝĐĞƌ ŽŶ ǁƌŝƚƚĞŶ ƌĞƋƵĞƐƚ ďǇ ŶŽƚ ůĞƐƐ ƚŚĂŶ ƚŚƌĞĞ ;ϯͿ ŵĞŵďĞƌƐ ŽĨ ƚŚĞ ŽĂƌĚ͘ ƵƐŝŶĞƐƐ ƚƌĂŶƐĂĐƚĞĚ Ăƚ Ă ƐƉĞĐŝĂů ŵĞĞƚŝŶŐ ƐŚĂůů ďĞ ĐŽŶĨŝŶĞĚ ƚŽ ƚŚĞ ƉƵƌƉŽƐĞƐ ƐƚĂƚĞĚ ŝŶ ƚŚĞ ŶŽƚŝĐĞ͘ ^ƵĐŚ ƌĞƋƵĞƐƚ ǁŝůů ƐƚĂƚĞ ƚŚĞ ƉƵƌƉŽƐĞ Žƌ ƉƵƌƉŽƐĞƐ ĨŽƌ ǁŚŝĐŚ ƚŚĞ ŵĞĞƚŝŶŐ ŝƐ ƚŽ ďĞ ĐĂůůĞĚ͘

^ĞĐƚŝŽŶ ϯ͘ϭϬ

EŽƚŝĐĞ ŽĨ DĞĞƚŝŶŐƐ͘ EŽƚŝĐĞ ŽĨ ĞĂĐŚ ŵĞĞƚŝŶŐ ŽĨ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ƐŚĂůů ďĞ ŝŶ ǁƌŝƚŝŶŐ ĂŶĚ ƐŚĂůů ƐƚĂƚĞ ƚŚĞ ƉůĂĐĞ͕ ĚĂǇ͕ ĂŶĚ ŚŽƵƌ ŽĨ ƚŚĞ ŵĞĞƚŝŶŐ ĂŶĚ͕ ƵŶůĞƐƐ ŝƚ ŝƐ Ă ƌĞŐƵůĂƌ ŵĞĞƚŝŶŐ͕ ƐŚĂůů ŝŶĚŝĐĂƚĞ ƚŚĂƚ ŝƚ ŝƐ ďĞŝŶŐ ŝƐƐƵĞĚ ďǇ Žƌ Ăƚ ƚŚĞ ĚŝƌĞĐƚŝŽŶ ŽĨ ƚŚĞ ƉĞƌƐŽŶ Žƌ ƉĞƌƐŽŶƐ ĐĂůůŝŶŐ ƚŚĞ ŵĞĞƚŝŶŐ͘ EŽƚŝĐĞ ŽĨ Ă ƐƉĞĐŝĂů ŵĞĞƚŝŶŐ ƐŚĂůů ĂůƐŽ ƐƚĂƚĞ ƚŚĞ ƉƵƌƉŽƐĞ Žƌ ƉƵƌƉŽƐĞƐ ĨŽƌ ǁŚŝĐŚ ƚŚĞ ŵĞĞƚŝŶŐ ŝƐ ĐĂůůĞĚ͘ ĐŽƉǇ ŽĨ ƚŚĞ ŶŽƚŝĐĞ ŽĨ ĂŶǇ ŵĞĞƚŝŶŐ ƐŚĂůů ďĞ ŐŝǀĞŶ ƉĞƌƐŽŶĂůůǇ Žƌ ďǇ ĨĂĐƐŝŵŝůĞ͕ ĞͲŵĂŝů Žƌ ĨŝƌƐƚ ĐůĂƐƐ ŵĂŝů ƚŽ ĞĂĐŚ dƌƵƐƚĞĞ ŶŽƚ ĨĞǁĞƌ ƚŚĂŶ ƐĞǀĞŶ ;ϳͿ ŶŽƌ ŵŽƌĞ ƚŚĂŶ ƚŚŝƌƚǇ ;ϯϬͿ ĚĂǇƐ ďĞĨŽƌĞ ƚŚĞ ĚĂƚĞ ŽĨ ƚŚĞ ŵĞĞƚŝŶŐ͘ EŽƚŝĐĞ ŝƐ ĚĞĞŵĞĚ ŐŝǀĞŶ ǁŚĞŶ ĚĞůŝǀĞƌĞĚ͕ ĨĂǆĞĚ Žƌ ĚĞƉŽƐŝƚĞĚ ŝŶ ƚŚĞ hŶŝƚĞĚ ^ƚĂƚĞƐ ŵĂŝů͕ ǁŝƚŚ ƉŽƐƚĂŐĞ ƉƌĞƉĂŝĚ͕ ĚŝƌĞĐƚĞĚ ƚŽ ƚŚĞ dƌƵƐƚĞĞ Ăƚ ŚŝƐ Žƌ ŚĞƌ ĨĂǆ ŶƵŵďĞƌ ;ŝĨ ĂŶǇͿ Žƌ ĂĚĚƌĞƐƐ ĂƐ ŝƚ ĂƉƉĞĂƌƐ ŝŶ ƚŚĞ ƌĞĐŽƌĚƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͕ Žƌ ŝĨ Ă dƌƵƐƚĞĞ ƐŚĂůů ŚĂǀĞ ĨŝůĞĚ ǁŝƚŚ ƚŚĞ ^ĞĐƌĞƚĂƌǇ Ă ǁƌŝƚƚĞŶ ƌĞƋƵĞƐƚ ƚŚĂƚ ŶŽƚŝĐĞƐ ƚŽ ƐƵĐŚ dƌƵƐƚĞĞ ďĞ ĚĞůŝǀĞƌĞĚ Žƌ ŵĂŝůĞĚ ƚŽ ƐŽŵĞ ŽƚŚĞƌ ĂĚĚƌĞƐƐ͕ ƚŚĞŶ ĚĞůŝǀĞƌĞĚ Žƌ ĚŝƌĞĐƚĞĚ ƚŽ ƐƵĐŚ ŽƚŚĞƌ ĂĚĚƌĞƐƐ͘

^ĞĐƚŝŽŶ ϯ͘ϭϭ ĚũŽƵƌŶŵĞŶƚ ŽĨ DĞĞƚŝŶŐƐ͘ ŵĂũŽƌŝƚǇ ŽĨ ƚŚĞ dƌƵƐƚĞĞƐ ƉƌĞƐĞŶƚ͕ ǁŚĞƚŚĞƌ Žƌ ŶŽƚ Ă ƋƵŽƌƵŵ ŝƐ ƉƌĞƐĞŶƚ͕ ŵĂǇ ĂĚũŽƵƌŶ ĂŶǇ ŵĞĞƚŝŶŐ ƚŽ ĂŶŽƚŚĞƌ ƚŝŵĞ ĂŶĚ ƉůĂĐĞ͘ EŽƚŝĐĞ ŽĨ ĂŶǇ ĂĚũŽƵƌŶĞĚ ŵĞĞƚŝŶŐ ŽĨ ƚŚĞ ŽĂƌĚ ƐƉĞĐŝĨǇŝŶŐ ƚŚĞ ƚŝŵĞ ĂŶĚ ƉůĂĐĞ ŽĨ ƚŚĞ ŶĞǆƚ ŵĞĞƚŝŶŐ ƐŚĂůů ďĞ ŐŝǀĞŶ ƚŽ ƚŚĞ dƌƵƐƚĞĞƐ ǁŚŽ ǁĞƌĞ ŶŽƚ ƉƌĞƐĞŶƚ Ăƚ ƚŚĞ ƚŝŵĞ ŽĨ ƚŚĞ ĂĚũŽƵƌŶŵĞŶƚ ĂŶĚ͕ ƵŶůĞƐƐ ƐƵĐŚ ƚŝŵĞ ĂŶĚ ƉůĂĐĞ ĂƌĞ ĂŶŶŽƵŶĐĞĚ Ăƚ ƚŚĞ ŵĞĞƚŝŶŐ͕ ƚŽ ƚŚĞ ŽƚŚĞƌ dƌƵƐƚĞĞƐ͘ ^ĞĐƚŝŽŶ ϯ͘ϭϮ tĂŝǀĞƌƐ͘ EŽƚŝĐĞ ŽĨ Ă ŽĂƌĚ ŵĞĞƚŝŶŐ ŶĞĞĚ ŶŽƚ ďĞ ŐŝǀĞŶ ƚŽ ĂŶǇ dƌƵƐƚĞĞ ǁŚŽ ĂƚƚĞŶĚƐ ƚŚĞ ŵĞĞƚŝŶŐ ǁŝƚŚŽƵƚ ƉƌŽƚĞƐƚŝŶŐ ƉƌŝŽƌ ƚŚĞƌĞƚŽ͕ Žƌ Ăƚ ŝƚƐ ĐŽŵŵĞŶĐĞŵĞŶƚ͕ Ϭϱϵϱϳϵ͘ϬϬϬϬϬ ƵƐŝŶĞƐƐ ϭϯϬϮϴϮϱϯǀϳ

ƚŚĞ ůĂĐŬ ŽĨ ŶŽƚŝĐĞ ƚŽ Śŝŵ Žƌ ŚĞƌ͘ dƌƵƐƚĞĞ ŵĂǇ ĂůƐŽ ǁĂŝǀĞ ŶŽƚŝĐĞ ďǇ ƐƵďŵŝƚƚŝŶŐ Ă ǁĂŝǀĞƌ ŽĨ ŶŽƚŝĐĞ ďĞĨŽƌĞ Žƌ ĂĨƚĞƌ Ă ŵĞĞƚŝŶŐ͘ ^ƵĐŚ ǁĂŝǀĞƌ ŽĨ ŶŽƚŝĐĞ ŵĂǇ ďĞ ǁƌŝƚƚĞŶ Žƌ ĞůĞĐƚƌŽŶŝĐ͘ /Ĩ ǁƌŝƚƚĞŶ͕ ƚŚĞ ǁĂŝǀĞƌ ŵƵƐƚ ďĞ ĞǆĞĐƵƚĞĚ ďǇ ƚŚĞ dƌƵƐƚĞĞ ƐŝŐŶŝŶŐ ƐƵĐŚ ǁĂŝǀĞƌ Žƌ ĐĂƵƐŝŶŐ ŚŝƐ Žƌ ŚĞƌ ƐŝŐŶĂƚƵƌĞ ƚŽ ďĞ ĂĨĨŝǆĞĚ ƚŽ ƐƵĐŚ ǁĂŝǀĞƌ ďǇ ĂŶǇ ƌĞĂƐŽŶĂďůĞ ŵĞĂŶƐ ŝŶĐůƵĚŝŶŐ ďƵƚ ŶŽƚ ůŝŵŝƚĞĚ ƚŽ ĨĂĐƐŝŵŝůĞ ƐŝŐŶĂƚƵƌĞ͘ /Ĩ ĞůĞĐƚƌŽŶŝĐ͕ ƚŚĞ ƚƌĂŶƐŵŝƐƐŝŽŶ ŽĨ ƚŚĞ ĐŽŶƐĞŶƚ ŵƵƐƚ ďĞ ƐĞŶƚ ďǇ ĞͲ ŵĂŝů ĂŶĚ ƐĞƚ ĨŽƌƚŚ͕ Žƌ ďĞ ƐƵďŵŝƚƚĞĚ ǁŝƚŚ͕ ŝŶĨŽƌŵĂƚŝŽŶ ĨƌŽŵ ǁŚŝĐŚ ŝƚ ĐĂŶ ƌĞĂƐŽŶĂďůǇ ďĞ ĚĞƚĞƌŵŝŶĞĚ ƚŚĂƚ ƚŚĞ ƚƌĂŶƐŵŝƐƐŝŽŶ ǁĂƐ ĂƵƚŚŽƌŝǌĞĚ ďǇ ƚŚĞ dƌƵƐƚĞĞ͘ ^ĞĐƚŝŽŶ ϯ͘ϭϯ WƌĞƐŝĚŝŶŐ KĨĨŝĐĞƌ͘ dŚĞ ŽƌĚĞƌ ŽĨ ďƵƐŝŶĞƐƐ ĂŶĚ Ăůů ŽƚŚĞƌ ŵĂƚƚĞƌƐ ŽĨ ƉƌŽĐĞĚƵƌĞ Ăƚ ĞǀĞƌǇ ŵĞĞƚŝŶŐ ŽĨ ƚŚĞ dƌƵƐƚĞĞƐ ŵĂǇ ďĞ ĚĞƚĞƌŵŝŶĞĚ ďǇ ƚŚĞ ƉĞƌƐŽŶ ƉƌĞƐŝĚŝŶŐ Ăƚ ƚŚĞ ŵĞĞƚŝŶŐ͘ dŚĞ ŚĂŝƌ ŽĨ ƚŚĞ ŽĂƌĚ Žƌ͕ ŝŶ ƚŚĞ ŚĂŝƌΖƐ ĂďƐĞŶĐĞ͕ ƚŚĞ sŝĐĞ ŚĂŝƌ Žƌ ƚŚĞ ^ĞĐƌĞƚĂƌǇ͕ ŝŶ ƚŚĂƚ ŽƌĚĞƌ͕ ƐŚĂůů ƉƌĞƐŝĚĞ Ăƚ Ăůů ŵĞĞƚŝŶŐƐ ŽĨ ƚŚĞ ŽĂƌĚ͘ ^ĞĐƚŝŽŶ ϯ͘ϭϰ YƵŽƌƵŵ͘ ŵĂũŽƌŝƚǇ ŽĨ ƚŚĞ ĞŶƚŝƌĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ƐŚĂůů ĐŽŶƐƚŝƚƵƚĞ Ă ƋƵŽƌƵŵ ĨŽƌ ƚƌĂŶƐĂĐƚŝŽŶ ŽĨ ďƵƐŝŶĞƐƐ Ăƚ ĂŶǇ ŵĞĞƚŝŶŐ ŽĨ ƚŚĞ ŽĂƌĚ͘ ^ĞĐƚŝŽŶ ϯ͘ϭϱ ĐƚŝŽŶ ŽĨ ƚŚĞ ŽĂƌĚ͘ hŶůĞƐƐ ŽƚŚĞƌǁŝƐĞ ƌĞƋƵŝƌĞĚ ďǇ ůĂǁ͕ ƚŚĞ ĐĞƌƚŝĨŝĐĂƚĞ ŽĨ ŝŶĐŽƌƉŽƌĂƚŝŽŶ Žƌ ƚŚĞƐĞ ǇͲůĂǁƐ͕ ƚŚĞ ǀŽƚĞ ŽĨ Ă ŵĂũŽƌŝƚǇ ŽĨ ƚŚĞ ĞŶƚŝƌĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ƐŚĂůů ďĞ ƚŚĞ ĂĐƚ ŽĨ ƚŚĞ ŽĂƌĚ͘ ͘ ^ĞĐƚŝŽŶ ϯ͘ϭϲ tƌŝƚƚĞŶ ŽŶƐĞŶƚ ŽĨ dƌƵƐƚĞĞƐ͘ ŶǇ ĂĐƚŝŽŶ ƚŚĂƚ ŵĂǇ ďĞ ƚĂŬĞŶ ďǇ ǀŽƚĞ ŽĨ ƚŚĞ ŽĂƌĚ Žƌ ĂŶǇ ĐŽŵŵŝƚƚĞĞ ŽĨ ƚŚĞ ŽĂƌĚ ŵĂǇ ďĞ ƚĂŬĞŶ ǁŝƚŚŽƵƚ Ă ŵĞĞƚŝŶŐ ŝĨ Ăůů ŵĞŵďĞƌƐ ŽĨ ƚŚĞ ŽĂƌĚ Žƌ ƚŚĞ ĐŽŵŵŝƚƚĞĞ ĐŽŶƐĞŶƚ ƚŽ ƚŚĞ ĂĚŽƉƚŝŽŶ ŽĨ Ă ƌĞƐŽůƵƚŝŽŶ ĂƵƚŚŽƌŝǌŝŶŐ ƚŚĞ ĂĐƚŝŽŶ͘ ^ƵĐŚ ĐŽŶƐĞŶƚ ŵĂǇ ďĞ ǁƌŝƚƚĞŶ Žƌ ĞůĞĐƚƌŽŶŝĐ͘ /Ĩ ǁƌŝƚƚĞŶ͕ ƚŚĞ ĐŽŶƐĞŶƚ ŵƵƐƚ ďĞ ĞǆĞĐƵƚĞĚ ďǇ ƚŚĞ dƌƵƐƚĞĞ ďǇ ƐŝŐŶŝŶŐ ƐƵĐŚ ĐŽŶƐĞŶƚ Žƌ ĐĂƵƐŝŶŐ ŚŝƐ Žƌ ŚĞƌ ƐŝŐŶĂƚƵƌĞ ƚŽ ďĞ ĂĨĨŝǆĞĚ ƚŽ ƐƵĐŚ ĐŽŶƐĞŶƚ ďǇ ĂŶǇ ƌĞĂƐŽŶĂďůĞ ŵĞĂŶƐ ŝŶĐůƵĚŝŶŐ͕ ďƵƚ ŶŽƚ ůŝŵŝƚĞĚ ƚŽ͕ ĨĂĐƐŝŵŝůĞ ƐŝŐŶĂƚƵƌĞ͘ /Ĩ ĞůĞĐƚƌŽŶŝĐ͕ ƚŚĞ ƚƌĂŶƐŵŝƐƐŝŽŶ ŽĨ ƚŚĞ ĐŽŶƐĞŶƚ ŵƵƐƚ ďĞ ƐĞŶƚ ďǇ ĞͲŵĂŝů ĂŶĚ ƐĞƚ ĨŽƌƚŚ͕ Žƌ ďĞ ƐƵďŵŝƚƚĞĚ ǁŝƚŚ͕ ŝŶĨŽƌŵĂƚŝŽŶ ĨƌŽŵ ǁŚŝĐŚ ŝƚ ĐĂŶ ƌĞĂƐŽŶĂďůǇ ďĞ ĚĞƚĞƌŵŝŶĞĚ ƚŚĂƚ ƚŚĞ ƚƌĂŶƐŵŝƐƐŝŽŶ ǁĂƐ ĂƵƚŚŽƌŝǌĞĚ ďǇ ƚŚĞ dƌƵƐƚĞĞ͘ dŚĞ ƌĞƐŽůƵƚŝŽŶ ĂŶĚ ƚŚĞ ǁƌŝƚƚĞŶ ĐŽŶƐĞŶƚƐ ƚŚĞƌĞƚŽ ƐŚĂůů ďĞ ĨŝůĞĚ ǁŝƚŚ ƚŚĞ ŵŝŶƵƚĞƐ ŽĨ ƚŚĞ ƉƌŽĐĞĞĚŝŶŐƐ ŽĨ ƚŚĞ ŽĂƌĚ Žƌ ĐŽŵŵŝƚƚĞĞ͘ Ϭϱϵϱϳϵ͘ϬϬϬϬϬ ƵƐŝŶĞƐƐ ϭϯϬϮϴϮϱϯǀϳ

^ĞĐƚŝŽŶ ϯ͘ϭϳ

ĐƚŝŽŶ ďǇ ůĞĐƚƌŽŶŝĐ ŽŵŵƵŶŝĐĂƚŝŽŶ͘ ŶǇ ŽŶĞ Žƌ ŵŽƌĞ ŵĞŵďĞƌƐ ŽĨ ƚŚĞ ŽĂƌĚ Žƌ ĂŶǇ ĐŽŵŵŝƚƚĞĞ ƚŚĞƌĞŽĨ ǁŚŽ ŝƐ ŶŽƚ ƉŚǇƐŝĐĂůůǇ ƉƌĞƐĞŶƚ Ăƚ Ă ŵĞĞƚŝŶŐ ŵĂǇ ƉĂƌƚŝĐŝƉĂƚĞ ďǇ ŵĞĂŶƐ ŽĨ Ă ĐŽŶĨĞƌĞŶĐĞ ƚĞůĞƉŚŽŶĞ Žƌ ƐŝŵŝůĂƌ ĐŽŵŵƵŶŝĐĂƚŝŽŶƐ ĞƋƵŝƉŵĞŶƚ Žƌ ďǇ ĞůĞĐƚƌŽŶŝĐ ǀŝĚĞŽ ƐĐƌĞĞŶ ĐŽŵŵƵŶŝĐĂƚŝŽŶ͘ WĂƌƚŝĐŝƉĂƚŝŽŶ ďǇ ƐƵĐŚ ŵĞĂŶƐ ƐŚĂůů ĐŽŶƐƚŝƚƵƚĞ ƉƌĞƐĞŶĐĞ ŝŶ ƉĞƌƐŽŶ Ăƚ Ă ŵĞĞƚŝŶŐ ĂƐ ůŽŶŐ ĂƐ Ăůů ƉĂƌƚŝĐŝƉĂŶƚƐ ŝŶ ƚŚĞ ŵĞĞƚŝŶŐ ĐĂŶ ƐŝŵƵůƚĂŶĞŽƵƐůǇ ŚĞĂƌ ĞĂĐŚ ŽƚŚĞƌ Ăƚ ƚŚĞ ƐĂŵĞ ƚŝŵĞ ĂŶĚ ĞĂĐŚ dƌƵƐƚĞĞ ĐĂŶ ƉĂƌƚŝĐŝƉĂƚĞ ŝŶ Ăůů ŵĂƚƚĞƌƐ ďĞĨŽƌĞ ƚŚĞ ŽĂƌĚ Žƌ ĐŽŵŵŝƚƚĞĞ͕ ŝŶĐůƵĚŝŶŐ͕ ǁŝƚŚŽƵƚ ůŝŵŝƚĂƚŝŽŶ͕ ƚŚĞ ĂďŝůŝƚǇ ƚŽ ƉƌŽƉŽƐĞ͕ ŽďũĞĐƚ ƚŽ͕ ĂŶĚ ǀŽƚĞ ƵƉŽŶ Ă ƐƉĞĐŝĨŝĐ ĂĐƚŝŽŶ ƚŽ ďĞ ƚĂŬĞŶ ďǇ ƚŚĞ ŽĂƌĚ ŽĨ ĐŽŵŵŝƚƚĞĞ͘ ^ŝŵŝůĂƌůǇ͕ ĂŶǇ ŽŶĞ Žƌ ŵŽƌĞ ŵĞŵďĞƌƐ ŽĨ ƚŚĞ ŽĂƌĚ Žƌ ĂŶǇ ĐŽŵŵŝƚƚĞĞ ƚŚĞƌĞŽĨ ŵĂǇ ŚŽůĚ ƐƵĐŚ Ă ŵĞĞƚŝŶŐ ĞǆĐůƵƐŝǀĞůǇ ďǇ ƚĞůĞƉŚŽŶĞ Žƌ ƐŝŵŝůĂƌ ĐŽŵŵƵŶŝĐĂƚŝŽŶƐ ĞƋƵŝƉŵĞŶƚ Žƌ ďǇ ĞůĞĐƚƌŽŶŝĐ ǀŝĚĞŽ ƐĐƌĞĞŶ ĐŽŵŵƵŶŝĐĂƚŝŽŶ ŝĨ ƚŚĞ ƐĂŵĞ ŶŽƚŝĐĞ ŝƐ ŐŝǀĞŶ ŽĨ ƚŚĞ ĐŽŶĨĞƌĞŶĐĞ ĂƐ ǁŽƵůĚ ďĞ ƌĞƋƵŝƌĞĚ ĨŽƌ ƐƵĐŚ Ă ŵĞĞƚŝŶŐ ĂŶĚ ŝĨ ƚŚĞ ŶƵŵďĞƌ ŽĨ dƌƵƐƚĞĞƐ ƉĂƌƚŝĐŝƉĂƚŝŶŐ ŝŶ ƚŚĞ

^ĞĐƚŝŽŶ ϯ͘ϭϴ

ĐŽŶĨĞƌĞŶĐĞ ŝƐ Ă ƋƵŽƌƵŵ͘ /ŶǀŝƚĞĚ 'ƵĞƐƚƐ͘ /ŶĚŝǀŝĚƵĂůƐ ǁŚŽ ŚĂǀĞ ĞǆƉƌĞƐƐĞĚ ĂŶ ŝŶƚĞƌĞƐƚ ŝŶ ƚŚĞ ƉƌŽŐƌĂŵƐ͕ ĂĐƚŝǀŝƚŝĞƐ ĂŶĚ ŐŽĂůƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͕ ďƵƚ ǁŚŽ ĂƌĞ ŶŽƚ ŵĞŵďĞƌƐ ŽĨ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ͕ ŵĂǇ ďĞ ŝŶǀŝƚĞĚ ƚŽ ĂƚƚĞŶĚ ŵĞĞƚŝŶŐƐ ŽĨ ƚŚĞ ŽĂƌĚ ĂŶĚ ŝƚƐ ŽŵŵŝƚƚĞĞƐ ĨŽƌ ƚŚĞ ƉƵƌƉŽƐĞ ŽĨ ƉƌŽǀŝĚŝŶŐ ĂĚǀŝĐĞ͕ ƌĞĐŽŵŵĞŶĚĂƚŝŽŶƐ Žƌ ŽƚŚĞƌ ŝŶƉƵƚ Žƌ ĨŽƌ ĂŶǇ ŽƚŚĞƌ ĂƉƉƌŽƉƌŝĂƚĞ ƉƵƌƉŽƐĞ ĂƐ ĚĞƚĞƌŵŝŶĞĚ ďǇ ƚŚĞ ŽĂƌĚ ŚĂŝƌ Žƌ ŽŵŵŝƚƚĞĞ ŚĂŝƌ ĂƐ ƚŚĞ ĐĂƐĞ ŵĂǇ ďĞ͘ /ŶǀŝƚĂƚŝŽŶƐ ƚŽ ƐƵĐŚ ŝŶĚŝǀŝĚƵĂůƐ ƐŚĂůů ďĞ ŵĂĚĞ ďǇ ƚŚĞ ŽĂƌĚ ŚĂŝƌ Žƌ ŽŵŵŝƚƚĞĞ ŚĂŝƌ͕ ƐƵďũĞĐƚ ƚŽ ƚŚĞ ĂƉƉƌŽǀĂů ŽĨ ƚŚĞ ŽĂƌĚ Žƌ ŽŵŵŝƚƚĞĞ ĂŶĚ ƚŽ ƐƵĐŚ ĐŽŶĚŝƚŝŽŶƐ ĂƐ ƚŚĞ ŽĂƌĚ Žƌ ŽŵŵŝƚƚĞĞ ƐŚĂůů ĚĞƚĞƌŵŝŶĞ͘ ^ƵĐŚ ŝŶǀŝƚĞĚ ŐƵĞƐƚƐ ƐŚĂůů ŶŽƚ ďĞ ĞŶƚŝƚůĞĚ ƚŽ ǀŽƚĞ Žƌ ďĞ ĐŽƵŶƚĞĚ ŝŶ ĚĞƚĞƌŵŝŶŝŶŐ ƋƵŽƌƵŵ͗ ƐŚĂůů ďĞ ƌĞƋƵŝƌĞĚ ƚŽ ƉƌŽŵƉƚůǇ ĚŝƐĐůŽƐĞ ĂŶǇ ƉŽƚĞŶƚŝĂů ĐŽŶĨůŝĐƚ ŽĨ ŝŶƚĞƌĞƐƚ ƉĞƌƚĂŝŶŝŶŐ ƚŽ ĂŶǇ ŵĂƚƚĞƌ ďĞŝŶŐ ĐŽŶƐŝĚĞƌĞĚ ďǇ ƚŚĞ ŽĂƌĚ Žƌ ŽŵŵŝƚƚĞĞ͖ ĂŶĚ ƐŚĂůů ŵĂŝŶƚĂŝŶ ƚŚĞ ĐŽŶĨŝĚĞŶƚŝĂůŝƚǇ ŽĨ ŝŶĨŽƌŵĂƚŝŽŶ ĚŝƐĐƵƐƐĞĚ Ăƚ ĂŶǇ ŵĞĞƚŝŶŐ Žƌ ŽƚŚĞƌǁŝƐĞ ƌĞĐĞŝǀĞĚ ďǇ ƐƵĐŚ ƉĞƌƐŽŶƐ͘

Ϭϱϵϱϳϵ͘ϬϬϬϬϬ ƵƐŝŶĞƐƐ ϭϯϬϮϴϮϱϯǀϳ

Zd/ > /s KĨĨŝĐĞƌƐ KĨĨŝĐĞƌƐ͘ dŚĞ ŽĨĨŝĐĞƌƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ƐŚĂůů ďĞ Ă ŚĂŝƌ ŽĨ ƚŚĞ ŽĂƌĚ͕ Ă sŝĐĞ Section 4.1

ŚĂŝƌ͕ WƌĞƐŝĚĞŶƚ͕ ^ĞĐƌĞƚĂƌǇ͕ dƌĞĂƐƵƌĞƌ ĂŶĚ ƐƵĐŚ ŽƚŚĞƌ ŽĨĨŝĐĞƌƐ ŚĂǀŝŶŐ ƚŝƚůĞƐ͕ ĂƵƚŚŽƌŝƚǇ ĂŶĚ ĚƵƚŝĞƐ ĂƐ ŵĂǇ ďĞ ĚĞƚĞƌŵŝŶĞĚ ĨƌŽŵ ƚŝŵĞ ƚŽ ƚŝŵĞ ďǇ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ;ƚŚĞ ΗKĨĨŝĐĞƌƐΗͿ͘ ůů KĨĨŝĐĞƌƐ͕ ǁŝƚŚ ƚŚĞ ĞǆĐĞƉƚŝŽŶ ŽĨ ƚŚĞ WƌĞƐŝĚĞŶƚ͕ ƐŚĂůů ďĞ ĞůĞĐƚĞĚ ĨƌŽŵ ƚŚĞ ŵĞŵďĞƌƐ ŽĨ ƚŚĞ ŽĂƌĚ͘ EŽ ĞŵƉůŽǇĞĞ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ƐŚĂůů ƐĞƌǀĞ ĂƐ ŚĂŝƌ ŽĨ ƚŚĞ ŽĂƌĚ Žƌ ŚŽůĚ ĂŶǇ ŽƚŚĞƌ ƚŝƚůĞ ǁŝƚŚ ƐŝŵŝůĂƌ ƌĞƐƉŽŶƐŝďŝůŝƚŝĞƐ ƵŶůĞƐƐ ƐƵĐŚ ĞŵƉůŽǇĞĞ ŝƐ ĞůĞĐƚĞĚ ŚĂŝƌ Žƌ ƐƵĐŚ ŽƚŚĞƌ ƚŝƚůĞ ǁŝƚŚ ƐŝŵŝůĂƌ ƌĞƐƉŽŶƐŝďŝůŝƚŝĞƐ ďǇ Ăƚ ůĞĂƐƚ Ă ƚǁŽͲƚŚŝƌĚƐ ǀŽƚĞ ŽĨ ƚŚĞ ĞŶƚŝƌĞ ŽĂƌĚ͕ ĂŶĚ ƉƌŽǀŝĚĞĚ ĨƵƌƚŚĞƌ ƚŚĂƚ ƚŚĞ ŽĂƌĚ ĐŽŶƚĞŵƉŽƌĂŶĞŽƵƐůǇ ĚŽĐƵŵĞŶƚƐ ŝŶ ǁƌŝƚŝŶŐ ƚŚĞ ďĂƐŝƐ ĨŽƌ ƐƵĐŚ ĂƉƉƌŽǀĂů͘

Section 4.2

ůĞĐƚŝŽŶ ĂŶĚ dĞƌŵ ŽĨ KĨĨŝĐĞ͘ dŚĞ KĨĨŝĐĞƌƐ ĞǆĐĞƉƚ ĨŽƌ ƚŚĞ WƌĞƐŝĚĞŶƚ ĂŶĚ ƐƵĐŚ

ŽƚŚĞƌ KĨĨŝĐĞƌƐ ĂƐ ƚŚĞ ŽĂƌĚ ŵĂǇ ĚĞƚĞƌŵŝŶĞ͕ ƐŚĂůů ďĞ ĞůĞĐƚĞĚ ĂŶŶƵĂůůǇ ďǇ ŵĂũŽƌŝƚǇ ǀŽƚĞ ŽĨ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ Ăƚ ŝƚƐ ĂŶŶƵĂů ŵĞĞƚŝŶŐ ĂŶĚ ƐŚĂůů ŚŽůĚ ŽĨĨŝĐĞ ƵŶƚŝů ƚŚĞ ŶĞǆƚ ĂŶŶƵĂů ŵĞĞƚŝŶŐ ŽĨ ƚŚĞ ŽĂƌĚ ĂŶĚ ƵŶƚŝů ƚŚĞŝƌ ƐƵĐĐĞƐƐŽƌƐ ŚĂǀĞ ďĞĞŶ ĚƵůǇ ĞůĞĐƚĞĚ ĂŶĚ ŚĂǀĞ ƋƵĂůŝĨŝĞĚ͕ Žƌ ƵŶƚŝů ŽƚŚĞƌǁŝƐĞ ƌĞŵŽǀĞĚ ĂƐ ŚĞƌĞŝŶĂĨƚĞƌ ƉƌŽǀŝĚĞĚ͘ dŚĞ WƌĞƐŝĚĞŶƚ ƐŚĂůů ďĞ ĂƉƉŽŝŶƚĞĚ ďǇ Ă ƚǁŽͲƚŚŝƌĚƐ ǀŽƚĞ ŽĨ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ Ăƚ ĂŶǇ ŵĞĞƚŝŶŐ ĂŶĚ ƐŚĂůů ŚŽůĚ ŽĨĨŝĐĞ ĂŶĚ ƐĞƌǀĞ Ăƚ ƚŚĞ ƉůĞĂƐƵƌĞ ŽĨ ƚŚĞ Section 4.3

ŽĂƌĚ͘ ZĞŵŽǀĂů͘ ŶǇ KĨĨŝĐĞƌ ŵĂǇ ďĞ ƌĞŵŽǀĞĚ Ăƚ ĂŶǇ ƚŝŵĞ ǁŝƚŚ Žƌ ǁŝƚŚŽƵƚ ĐĂƵƐĞ ďǇ Ă

Section 4.4

ǀŽƚĞ ŽĨ Ă ŵĂũŽƌŝƚǇ ŽĨ ƚŚĞ ĞŶƚŝƌĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ͘ sĂĐĂŶĐŝĞƐ͘ ůů ǀĂĐĂŶĐŝĞƐ ŝŶ ĂŶǇ ĞůĞĐƚĞĚ ŽĨĨŝĐĞ ƐŚĂůů ďĞ ĨŝůůĞĚ ďǇ Ă ǀŽƚĞ ŽĨ Ă

Section 4.5

ŵĂũŽƌŝƚǇ ŽĨ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ Ăƚ ĂŶǇ ƌĞŐƵůĂƌ Žƌ ƐƉĞĐŝĂů ŵĞĞƚŝŶŐ͘ ƵƚŝĞƐ ŽĨ KĨĨŝĐĞƌƐ͘ dŚĞ ĚƵƚŝĞƐ ĂŶĚ ƉŽǁĞƌƐ ŽĨ ƚŚĞ ŽĨĨŝĐĞƌƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ƐŚĂůů

ďĞ ĂƐ ĨŽůůŽǁƐ͗ ;ĂͿ ŚĂŝƌ ŽĨ ƚŚĞ ŽĂƌĚ͘ dŚĞ ŚĂŝƌ ŽĨ ƚŚĞ ŽĂƌĚ ƐŚĂůů ƉƌĞƐŝĚĞ Ăƚ Ăůů ŵĞĞƚŝŶŐƐ ŽĨ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ͕ ƐŚĂůů ďĞ ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ŵĂŶĂŐĞŵĞŶƚ ŽĨ ƚŚĞ ĂĨĨĂŝƌƐ ŽĨ ƚŚĞ ŽĂƌĚ ĂŶĚ ƚŚĞ ĐŽŵŵŝƚƚĞĞƐ ŽĨ ƚŚĞ ŽĂƌĚ͕ ĂŶĚ ƐŚĂůů 059579.00000 Business 13028253v

ƌĞĐŽŵŵĞŶĚ ĐŚĂŝƌƐ ĂŶĚ ŵĞŵďĞƌƐ ŽĨ ĐŽŵŵŝƚƚĞĞƐ ĨŽƌ ĂƉƉƌŽǀĂů ďǇ ƚŚĞ ŽĂƌĚ ĞĂĐŚ ǇĞĂƌ͘ ;ďͿ

sŝĐĞ ŚĂŝƌ͘ dŚĞ sŝĐĞ ŚĂŝƌ ƐŚĂůů ŚĂǀĞ ƐƵĐŚ ƉŽǁĞƌƐ ĂŶĚ ĚƵƚŝĞƐ ĂƐ ĨƌŽŵ

ƚŝŵĞ ƚŽ ƚŝŵĞ ŵĂǇ ďĞ ĂƐƐŝŐŶĞĚ ďǇ ƚŚĞ ŚĂŝƌ Žƌ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ͘ /Ŷ ƚŚĞ ĂďƐĞŶĐĞ Žƌ ŝŶĂďŝůŝƚǇ ŽĨ ƚŚĞ ŚĂŝƌ͕ ƚŚĞ sŝĐĞͲ ŚĂŝƌ ƐŚĂůů ƐĞƌǀĞ ĂƐ ƚŚĞ ŚĂŝƌ͘ ;ĐͿ

WƌĞƐŝĚĞŶƚ͘ dŚĞ WƌĞƐŝĚĞŶƚ ƐŚĂůů ďĞ ƚŚĞ ĐŚŝĞĨ ĞǆĞĐƵƚŝǀĞ ŽĨĨŝĐĞƌ ŽĨ ƚŚĞ

ŽƌƉŽƌĂƚŝŽŶ ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ƚŚĞ ŵĂŶĂŐĞŵĞŶƚ ĂŶĚ ŽƉĞƌĂƚŝŽŶ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͘ dŚĞ WƌĞƐŝĚĞŶƚ ƐŚĂůů ƉĞƌĨŽƌŵ ƐƵĐŚ ŽƚŚĞƌ ĚƵƚŝĞƐ ĂƐ ŵĂǇ ďĞ ĂƐƐŝŐŶĞĚ ďǇ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ĨƌŽŵ ƚŝŵĞ ƚŽ ƚŝŵĞ͘ ,Ğ Žƌ ƐŚĞ ƐŚĂůů ƌĞƉŽƌƚ ĂŶĚ ďĞ ĂĐĐŽƵŶƚĂďůĞ ĚŝƌĞĐƚůǇ ƚŽ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͘ ;ĚͿ

^ĞĐƌĞƚĂƌǇ͘ dŚĞ ^ĞĐƌĞƚĂƌǇ ƐŚĂůů ĂƚƚĞŶĚ Ăůů ŵĞĞƚŝŶŐƐ ŽĨ ƚŚĞ ŽĂƌĚ

ŽĨ dƌƵƐƚĞĞƐ ĂŶĚ ƐŚĂůů ƌĞĐŽƌĚ Žƌ ĐĂƵƐĞ ƚŽ ďĞ ƌĞĐŽƌĚĞĚ Ăůů ƉƌŽĐĞĞĚŝŶŐƐ ŽĨ ƐƵĐŚ ŵĞĞƚŝŶŐƐ ŝŶ ƚŚĞ ŵŝŶƵƚĞ ďŽŽŬ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͘ dŚĞ ^ĞĐƌĞƚĂƌǇ ƐŚĂůů ŐŝǀĞ Žƌ ĐĂƵƐĞ ƚŽ ďĞ ŐŝǀĞŶ ƉƌŽƉĞƌ ŶŽƚŝĐĞ ŽĨ Ăůů ŵĞĞƚŝŶŐƐ ŽĨ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ͘ dŚĞ ^ĞĐƌĞƚĂƌǇ ƐŚĂůů ƉĞƌĨŽƌŵ Ăůů ĚƵƚŝĞƐ ŝŶĐŝĚĞŶƚ ƚŽ ƚŚĞ ŽĨĨŝĐĞ ŽĨ ^ĞĐƌĞƚĂƌǇ ĂŶĚ ƐƵĐŚ ŽƚŚĞƌ ĚƵƚŝĞƐ ŵĂǇ ďĞ ĂƐƐŝŐŶĞĚ ďǇ ƚŚĞ ŚĂŝƌ Žƌ ďǇ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ͘ KŶĞ Žƌ ŵŽƌĞ ĂƐƐŝƐƚĂŶƚ ƐĞĐƌĞƚĂƌŝĞƐ ŵĂǇ ĂƐƐŝƐƚ ƚŚĞ ^ĞĐƌĞƚĂƌǇ ŝŶ ƚŚĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽĨ ŚŝƐ Žƌ ŚĞƌ ĚƵƚŝĞƐ ĂŶĚ ƌĞƐƉŽŶƐŝďŝůŝƚŝĞƐ͕ ĂŶĚ ƐŚĂůů ďĞ ƐƵďũĞĐƚ ƚŽ ƚŚĞ ƐƵƉĞƌǀŝƐŝŽŶ ĂŶĚ ĚŝƌĞĐƚŝŽŶ ŽĨ ƚŚĞ ^ĞĐƌĞƚĂƌǇ͘ ;ĞͿ

dƌĞĂƐƵƌĞƌ͘ dŚĞ dƌĞĂƐƵƌĞƌ ƐŚĂůů ďĞ ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ƚŚĞ ŬĞĞƉŝŶŐ ŽĨ ĂĐĐƵƌĂƚĞ

ĨŝŶĂŶĐŝĂů ƌĞĐŽƌĚƐ ĨŽƌ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͘ dŚĞ dƌĞĂƐƵƌĞƌ ƐŚĂůů ďĞ ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ƚŚĞ ĚĞƉŽƐŝƚŝŶŐ ŽĨ Ăůů ŵŽŶĞǇƐ͕ ĚƌĂĨƚƐ͕ ĂŶĚ ĐŚĞĐŬƐ ŝŶ ƚŚĞ ŶĂŵĞ ŽĨ͕ ĂŶĚ ƚŽ ƚŚĞ ĐƌĞĚŝƚ ŽĨ͕ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ŝŶ ƐƵĐŚ ďĂŶŬƐ ĂŶĚ ĚĞƉŽƐŝƚŽƌŝĞƐ ĂƐ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŵĂǇ ĨƌŽŵ ƚŝŵĞ ƚŽ ƚŝŵĞ ĚĞƐŝŐŶĂƚĞ͘ dŚĞ dƌĞĂƐƵƌĞƌ ƐŚĂůů ŚĂǀĞ ƉŽǁĞƌ ƚŽ ĞŶĚŽƌƐĞ ĨŽƌ ĚĞƉŽƐŝƚ Ăůů ŶŽƚĞƐ͕ ĐŚĞĐŬƐ͕ ĂŶĚ ĚƌĂĨƚƐ ƌĞĐĞŝǀĞĚ ďǇ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͕ ĂŶĚ ŝƐƐƵĞ ĐŚĞĐŬƐ ĂŶĚ ĚƌĂĨƚƐ ŝŶ ƚŚĞ ŶĂŵĞ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͕ ĂƐ ŽƌĚĞƌĞĚ ďǇ ƚŚĞ ŽĂƌĚ͕ ŵĂŬŝŶŐ ƉƌŽƉĞƌ Ϭϱϵϱϳϵ͘ϬϬϬϬϬ ƵƐŝŶĞƐƐ ϭϯϬϮϴϮϱϯǀϳ

ǀŽƵĐŚĞƌƐ ĨŽƌ ĚĞƉŽƐŝƚ͘ dŚĞ dƌĞĂƐƵƌĞƌ ƐŚĂůů ĚŝƐďƵƌƐĞ ƚŚĞ ĨƵŶĚƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ĂƐ ŽƌĚĞƌĞĚ ďǇ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ͕ ŵĂŬŝŶŐ ƉƌŽƉĞƌ ǀŽƵĐŚĞƌƐ ƚŚĞƌĞĨŽƌ͘ dŚĞ dƌĞĂƐƵƌĞƌ ƐŚĂůů ƌĞŶĚĞƌ ƚŽ ƚŚĞ ŚĂŝƌ ĂŶĚ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ͕ ǁŚĞŶĞǀĞƌ ƌĞƋƵĞƐƚĞĚ͕ ĂŶ ĂĐĐŽƵŶƚ ŽĨ Ăůů ŚŝƐ Žƌ ŚĞƌ ƚƌĂŶƐĂĐƚŝŽŶƐ ĂƐ dƌĞĂƐƵƌĞƌ ĂŶĚ ŽĨ ƚŚĞ ĨŝŶĂŶĐŝĂů ĐŽŶĚŝƚŝŽŶ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͘ KŶĞ Žƌ ŵŽƌĞ ĂƐƐŝƐƚĂŶƚ ƚƌĞĂƐƵƌĞƌƐ ŵĂǇ ĂƐƐŝƐƚ ƚŚĞ dƌĞĂƐƵƌĞƌ ŝŶ ƚŚĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽĨ ŚŝƐ Žƌ ŚĞƌ ĚƵƚŝĞƐ ĂŶĚ ƐŚĂůů ďĞ ƐƵďũĞĐƚ ƚŽ ƚŚĞ ƐƵƉĞƌǀŝƐŝŽŶ ĂŶĚ ĚŝƌĞĐƚŝŽŶ ŽĨ ƚŚĞ dƌĞĂƐƵƌĞƌ͘

^ĞĐƚŝŽŶ ϰ͘ϲ

ƵƚŝĞƐ ŽĨ KĨĨŝĐĞƌƐ DĂǇ Ğ ĞůĞŐĂƚĞĚ͘ /Ĩ ĂŶ KĨĨŝĐĞƌ ŝƐ ĂďƐĞŶƚ Žƌ ƵŶĂďůĞ ƚŽ ƉĞƌĨŽƌŵ ŚŝƐ Žƌ ŚĞƌ ĚƵƚŝĞƐ͕ Žƌ ĨŽƌ ĂŶǇ ŽƚŚĞƌ ƌĞĂƐŽŶ ƚŚĂƚ ƚŚĞ ŽĂƌĚ ĚĞĞŵƐ ƐƵĨĨŝĐŝĞŶƚ͕ ƚŚĞ ŽĂƌĚ͕ ĞǆĐĞƉƚ ǁŚĞƌĞ ŽƚŚĞƌǁŝƐĞ ƉƌŽǀŝĚĞĚ ďǇ ůĂǁ͕ ŵĂǇ ĚĞůĞŐĂƚĞ ƚŚĞ ƉŽǁĞƌƐ Žƌ ĚƵƚŝĞƐ ŽĨ ĂŶǇ KĨĨŝĐĞƌ ƚŽ ĂŶǇ ŽƚŚĞƌ KĨĨŝĐĞƌ Žƌ ƚŽ ĂŶǇ dƌƵƐƚĞĞ͘

^ĞĐƚŝŽŶ ϰ͘ϳ KĨĨŝĐĞƌƐ ,ŽůĚŝŶŐ dǁŽ Žƌ DŽƌĞ KĨĨŝĐĞƐ͘ ŶǇ ƚǁŽ Žƌ ŵŽƌĞ ŽĂƌĚ ŽĨĨŝĐĞƐ͕ ĞǆĐĞƉƚ ƚŚŽƐĞ ŽĨ ŚĂŝƌ ŽĨ ƚŚĞ ŽĂƌĚ ĂŶĚ ^ĞĐƌĞƚĂƌǇ͕ ŵĂǇ ďĞ ŚĞůĚ ďǇ ƚŚĞ ƐĂŵĞ ƉĞƌƐŽŶ͕ ďƵƚ ŶŽ ŽĨĨŝĐĞƌ ǁŝůů ĞǆĞĐƵƚĞ Žƌ ǀĞƌŝĨǇ ĂŶǇ ŝŶƐƚƌƵŵĞŶƚ ŝŶ ŵŽƌĞ ƚŚĂŶ ŽŶĞ ĐĂƉĂĐŝƚǇ ŝĨ ƐƵĐŚ ŝŶƐƚƌƵŵĞŶƚ ŝƐ ƌĞƋƵŝƌĞĚ ďǇ ůĂǁ Žƌ ŽƚŚĞƌǁŝƐĞ ƚŽ ďĞ ĞǆĞĐƵƚĞĚ Žƌ ǀĞƌŝĨŝĞĚ ďǇ ƚǁŽ Žƌ ŵŽƌĞ KĨĨŝĐĞƌƐ͘

^ĞĐƚŝŽŶ ϰ͘ϴ ǆĞĐƵƚŝŽŶ ŽĨ /ŶƐƚƌƵŵĞŶƚƐ͘ dŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ƐŚĂůů ĚĞƚĞƌŵŝŶĞ ďǇ ƌĞƐŽůƵƚŝŽŶ ƚŚĞ KĨĨŝĐĞƌƐ ĂŶĚͬŽƌ ĞŵƉůŽǇĞĞƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ĂƵƚŚŽƌŝǌĞĚ ƚŽ ƐŝŐŶ͕ ŽŶ ďĞŚĂůĨ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͕ Ăůů ůĞĂƐĞƐ͕ ĐŽŶƚƌĂĐƚƐ͕ ďĂŶŬ ƚƌĂŶƐĂĐƚŝŽŶƐ Žƌ ŽƚŚĞƌ ŝŶƐƚƌƵŵĞŶƚƐ͕ ĚŽĐƵŵĞŶƚƐ͕ ĂŶĚ ĂŐƌĞĞŵĞŶƚƐ͘

^ĞĐƚŝŽŶ ϰ͘ϵ ŽŶĚƐ͘ dŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŵĂǇ ƌĞƋƵŝƌĞ ĂŶǇ KĨĨŝĐĞƌ Žƌ ĞŵƉůŽǇĞĞ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͕ Ăƚ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶΖƐ ĞǆƉĞŶƐĞ͕ ƚŽ ƉƌŽǀŝĚĞ Ă ďŽŶĚ ĨŽƌ ƚŚĞ ĨĂŝƚŚĨƵů ĚŝƐĐŚĂƌŐĞ ŽĨ ŚŝƐ Žƌ ŚĞƌ ĚƵƚŝĞƐ͕ ŝŶ ƚŚĞ ĨŽƌŵ ĂŶĚ ǁŝƚŚ ƐƵĐŚ ƐƵƌĞƚǇ Žƌ ƐƵƌĞƚŝĞƐ͕ Žƌ ǁŝƚŚŽƵƚ ƐƵƌĞƚǇ͕ ĂƐ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŵĂǇ ĚĞĞŵ ĂĚǀŝƐĂďůĞ͘

Ϭϱϵϱϳϵ͘ϬϬϬϬϬ ƵƐŝŶĞƐƐ ϭϯϬϮϴϮϱϯǀϳ

Zd/ > s ^ĞĐƚŝŽŶ ϱ͘ϭ

ŽŵŵŝƚƚĞĞƐ ŽĨ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŽŵŵŝƚƚĞĞƐ ŽĨ ƚŚĞ ŽĂƌĚ͘ dŚĞ ŽĂƌĚ͕ ďǇ ƌĞƐŽůƵƚŝŽŶ Žƌ ƌĞƐŽůƵƚŝŽŶƐ ĂĚŽƉƚĞĚ ďǇ Ă ŵĂũŽƌŝƚǇ ŽĨ ƚŚĞ ĞŶƚŝƌĞ ŽĂƌĚ͕ ŵĂǇ ĚĞƐŝŐŶĂƚĞ ĨƌŽŵ ĂŵŽŶŐ ŝƚƐ ŵĞŵďĞƌƐ ĂŶ ǆĞĐƵƚŝǀĞ ŽŵŵŝƚƚĞĞ ĂŶĚ͕ ďǇ ƌĞƐŽůƵƚŝŽŶ Žƌ ƌĞƐŽůƵƚŝŽŶƐ ĂĚŽƉƚĞĚ ďǇ Ă ŵĂũŽƌŝƚǇ ǀŽƚĞ ŽĨ ƚŚĞ ĚŝƌĞĐƚŽƌƐ ƉƌĞƐĞŶƚ Ăƚ Ă ŵĞĞƚŝŶŐ͕ ŵĂǇ ĚĞƐŝŐŶĂƚĞ ĨƌŽŵ ĂŵŽŶŐ ŝƚƐ ŵĞŵďĞƌƐ ƐƵĐŚ ŽƚŚĞƌ ĐŽŵŵŝƚƚĞĞƐ ŽĨ ƚŚĞ ŽĂƌĚ ĂƐ ŝƚ ŵĂǇ ĚĞĞŵ ĂĚǀŝƐĂďůĞ͘ ĂĐŚ ƐƵĐŚ ĐŽŵŵŝƚƚĞĞ ŽĨ ƚŚĞ ŽĂƌĚ ǁŝůů ĐŽŶƐŝƐƚ ŽĨϯ Žƌ ŵŽƌĞ dƌƵƐƚĞĞƐ͕ ĂŶĚ Ăůů ŵĞŵďĞƌƐ ŽĨ ĐŽŵŵŝƚƚĞĞƐ ŽĨ ƚŚĞ ŽĂƌĚ ŵƵƐƚ ďĞ dƌƵƐƚĞĞƐ͘ ŽŵŵŝƚƚĞĞ ŵĞŵďĞƌƐ͕ ŝŶĐůƵĚŝŶŐ ƚŚĞ ŚĂŝƌ ŽĨ ĞĂĐŚ ŽŵŵŝƚƚĞĞ͕ ƐŚĂůů ďĞ ĂƉƉŽŝŶƚĞĚ ďǇ ƚŚĞ ŚĂŝƌ ŽĨ ƚŚĞ ŽĂƌĚ͕ ŝŶ ĐŽŶƐƵůƚĂƚŝŽŶ ǁŝƚŚ ƚŚĞ WƌĞƐŝĚĞŶƚ͕ ƐƵďũĞĐƚ ƚŽ ƚŚĞ ĂƉƉƌŽǀĂů ŽĨ ƚŚĞ ŽĂƌĚ͘ ĂĐŚ ĐŽŵŵŝƚƚĞĞ ŽĨ ƚŚĞ ŽĂƌĚ ǁŝůů ƐĞƌǀĞ Ăƚ ƚŚĞ ƉůĞĂƐƵƌĞ ŽĨ ƚŚĞ ŽĂƌĚ ĂŶĚ ǁŝůů ŚĂǀĞ͕ ƚŽ ƚŚĞ ĞǆƚĞŶƚ ƉƌŽǀŝĚĞĚ ŝŶ ƚŚĞ ƌĞƐŽůƵƚŝŽŶ ĞƐƚĂďůŝƐŚŝŶŐ ƚŚĞ ĐŽŵŵŝƚƚĞĞ͕ Ăůů ƚŚĞ ĂƵƚŚŽƌŝƚǇ ŽĨ ƚŚĞ ŽĂƌĚ ĞǆĐĞƉƚ ĂƐ ŽƚŚĞƌǁŝƐĞ ƉƌŽǀŝĚĞĚ ďǇ ůĂǁ͘

^ĞĐƚŝŽŶ ϱ͘Ϯ ǆĞĐƵƚŝǀĞ ŽŵŵŝƚƚĞĞ͘ Ǉ ƌĞƐŽůƵƚŝŽŶ ĂĚŽƉƚĞĚ ďǇ Ă ŵĂũŽƌŝƚǇ ŽĨ ƚŚĞ ĞŶƚŝƌĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ͕ ƚŚĞ ŽĂƌĚ ŵĂǇ ĂƉƉŽŝŶƚ ĨƌŽŵ ĂŵŽŶŐ ŝƚƐ dƌƵƐƚĞĞƐ ĂŶ ǆĞĐƵƚŝǀĞ ŽŵŵŝƚƚĞĞ͕ ĐŽŶƐŝƐƚŝŶŐ ŽĨ ƚŚĞ ŚĂŝƌ͕ ƚŚĞ sŝĐĞͲ ŚĂŝƌ͕ ƚŚĞ ^ĞĐƌĞƚĂƌǇ͕ ƚŚĞ dƌĞĂƐƵƌĞƌ͕ ĂŶĚ ŽŶĞ ĂĚĚŝƚŝŽŶĂů dƌƵƐƚĞĞ ĚĞƐŝŐŶĂƚĞĚ ďǇ ƚŚĞ ŽĂƌĚ͕ ƉƌŽǀŝĚĞĚ ƚŚĂƚ Ă ŵĂũŽƌŝƚǇ ŽĨ ƚŚĞ ŽŵŵŝƚƚĞĞ ƐŚĂůů ďĞ ƌĞƐŝĚĞŶƚƐ ŽĨ tĞƐƚĞƌŶ EĞǁ zŽƌŬ͘ /Ĩ ŶĞĐĞƐƐĂƌǇ ƚŽ ƉƌŽǀŝĚĞ ƐƵĐŚ Ă ŵĂũŽƌŝƚǇ͕ ƚŚĞ ŽĂƌĚ ƐŚĂůů ĚĞƐŝŐŶĂƚĞ ŵŽƌĞ ƚŚĂŶ ŽŶĞ ƐƵĐŚ ĂĚĚŝƚŝŽŶĂů dƌƵƐƚĞĞ ĨƌŽŵ tĞƐƚĞƌŶ EĞǁ zŽƌŬ͘ ĞƚǁĞĞŶ ŵĞĞƚŝŶŐƐ ŽĨ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ͕ ĞǆĐĞƉƚ ĂƐ ŽƚŚĞƌǁŝƐĞ ƉƌŽǀŝĚĞĚ ďǇ ůĂǁ ĂŶĚ ƚŚĞƐĞ ǇůĂǁƐ͕ ƚŚĞ ǆĞĐƵƚŝǀĞ ŽŵŵŝƚƚĞĞ ŵĂǇ ĂĐƚ ŽŶ ďĞŚĂůĨ ŽĨ ƚŚĞ ŽĂƌĚ ƵƉŽŶ ĂŶǇ ŵĂƚƚĞƌ ĨŽƌ ǁŚŝĐŚ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŚĂƐ ĞƐƚĂďůŝƐŚĞĚ ƚŚĞ ƉŽůŝĐǇ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ Žƌ ƵƉŽŶ ĂŶǇ ŵĂƚƚĞƌ ƌĞƋƵŝƌŝŶŐ ŝŵŵĞĚŝĂƚĞ ĂĐƚŝŽŶ͘ dŚĞ ǆĞĐƵƚŝǀĞ ŽŵŵŝƚƚĞĞ ƐŚĂůů ŶŽƚ ƚĂŬĞ ĂŶǇ ĂĐƚŝŽŶ ŝŶĐŽŶƐŝƐƚĞŶƚ ǁŝƚŚ ĂĐƚŝŽŶ ƚĂŬĞŶ ďǇ ƚŚĞ ŽĂƌĚ͘ ƋƵŽƌƵŵ ŽĨ ƚŚĞ ǆĞĐƵƚŝǀĞ ŽŵŵŝƚƚĞĞ ƐŚĂůů ďĞ Ă ŵĂũŽƌŝƚǇ ŽĨ ƚŚĞ ĞŶƚŝƌĞ ŽŵŵŝƚƚĞĞ͘ dŚĞ ǆĞĐƵƚŝǀĞ ŽŵŵŝƚƚĞĞ ƐŚĂůů ŬĞĞƉ Ă ƌĞĐŽƌĚ ŽĨ ŝƚƐ ƉƌŽĐĞĞĚŝŶŐƐ ĂŶĚ ƌĞƉŽƌƚ ƚŚĞ ƐĂŵĞ ƚŽ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ Ăƚ ƚŚĞ ŶĞǆƚ ŵĞĞƚŝŶŐ ƚŚĞƌĞŽĨ͘ dŚĞ ǆĞĐƵƚŝǀĞ ŽŵŵŝƚƚĞĞ ƐŚĂůů ŚĂǀĞ Ăůů ŽĨ ƚŚĞ ĂƵƚŚŽƌŝƚǇ ŽĨ ƚŚĞ ŽĂƌĚ͕ ĞǆĐĞƉƚ ƚŚĂƚ ŶŽ ƐƵĐŚ ĐŽŵŵŝƚƚĞĞ ƐŚĂůů ŚĂǀĞ ĂƵƚŚŽƌŝƚǇ ĂƐ ƚŽ ƚŚĞ ĨŽůůŽǁŝŶŐ ŵĂƚƚĞƌƐ͗ ϭͿ ƚŚĞ ĨŝůůŝŶŐ ŽĨ ǀĂĐĂŶĐŝĞƐ ŝŶ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ Žƌ ŝŶ ĂŶǇ ĐŽŵŵŝƚƚĞĞ͖ ϮͿ ƚŚĞ ĨŝǆŝŶŐ

Ϭϱϵϱϳϵ͘ϬϬϬϬϬ ƵƐŝŶĞƐƐ ϭϯϬϮϴϮϱϯǀϳ

ŽĨ ĐŽŵƉĞŶƐĂƚŝŽŶ ŽĨ ƚŚĞ dƌƵƐƚĞĞƐ͕ ŝĨ ĂŶǇ͕ ĨŽƌ ƐĞƌǀŝŶŐ ŽŶ ƚŚĞ ŽĂƌĚ Žƌ ĂŶǇ ĐŽŵŵŝƚƚĞĞ͖ ϯͿ ƚŚĞ ĂŵĞŶĚŵĞŶƚ Žƌ ƌĞƉĞĂů ŽĨ ƚŚĞ ǇͲůĂǁƐ Žƌ ƚŚĞ ĂĚŽƉƚŝŽŶ ŽĨ ŶĞǁ ǇͲůĂǁƐ͖ ϰͿ ƚŚĞ ĂŵĞŶĚŵĞŶƚ Žƌ ƌĞƉĞĂů ŽĨ ĂŶǇ ƌĞƐŽůƵƚŝŽŶ ŽĨ ƚŚĞ ŽĂƌĚ ǁŚŝĐŚ ďǇ ŝƚƐ ƚĞƌŵƐ ƐŚĂůů ŶŽƚ ďĞ ƐŽ ĂŵĞŶĚĂďůĞ Žƌ ƌĞƉĞĂůĂďůĞ͖ ϱͿ ƚŚĞ ĞůĞĐƚŝŽŶ Žƌ ƌĞŵŽǀĂů ŽĨ ŽĨĨŝĐĞƌƐ ĂŶĚ ƚƌƵƐƚĞĞƐ͖ ϲͿ ƚŚĞ ĂƉƉƌŽǀĂů ŽĨ Ă ŵĞƌŐĞƌ Žƌ ƉůĂŶ ŽĨ ĚŝƐƐŽůƵƚŝŽŶ͖ ϳͿ ƚŚĞ ĂƉƉƌŽǀĂů ŽĨ Ă ƐĂůĞ ŽĨ Ăůů Žƌ ƐƵďƐƚĂŶƚŝĂůůǇ Ăůů ŽĨ ƚŚĞ ĂƐƐĞƚƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͖ ĂŶĚ ϴͿ ƚŚĞ ĂƉƉƌŽǀĂů ŽĨ ĂŵĞŶĚŵĞŶƚƐ ƚŽ ƚŚĞ ĐĞƌƚŝĨŝĐĂƚĞ ŽĨ ŝŶĐŽƌƉŽƌĂƚŝŽŶ͘ ĂĐŚ ǇĞĂƌ͕ ƚŚĞ ǆĞĐƵƚŝǀĞ ŽŵŵŝƚƚĞĞ͕ ĂĨƚĞƌ ĐŽŶƐƵůƚĂƚŝŽŶ ǁŝƚŚ ƚŚĞ ŽĂƌĚ͕ ƐŚĂůů ĐŽŶƐŝĚĞƌ ĂŶĚ ƐƵďŵŝƚ ĨŽƌ ĂƉƉƌŽǀĂů ďǇ ƚŚĞ ŽĂƌĚ ĂŶ ĞǀĂůƵĂƚŝŽŶ ŽĨ ƚŚĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽĨ

ƚŚĞ

WƌĞƐŝĚĞŶƚ

ĚƵƌŝŶŐ

ƚŚĞ

ƉĂƐƚ

ǇĞĂƌ

ĂŶĚ

ŝƚƐ

ƌĞĐŽŵŵĞŶĚĂƚŝŽŶ ĨŽƌ ƚŚĞ ĐŽŵƉĞŶƐĂƚŝŽŶ ŽĨ ƚŚĞ WƌĞƐŝĚĞŶƚ ĨŽƌ ƚŚĞ ŶĞǆƚ ǇĞĂƌ͘ ůů ĂĐƚƐ ĚŽŶĞ ĂŶĚ ƉŽǁĞƌ ĂŶĚ ĂƵƚŚŽƌŝƚǇ ĐŽŶĨĞƌƌĞĚ ďǇ ƚŚĞ ǆĞĐƵƚŝǀĞ ŽŵŵŝƚƚĞĞ ǁŝƚŚŝŶ ƚŚĞ ƐĐŽƉĞ ŽĨ ŝƚƐ ĂƵƚŚŽƌŝƚǇ ĂƌĞ ĚĞĞŵĞĚ ƚŽ ďĞ͕ ĂŶĚ ŵĂǇ ďĞ ƐƉĞĐŝĨŝĞĚ ĂƐ ďĞŝŶŐ͕ ƚŚĞ ĂĐƚƐ ŽĨ ĂŶĚ ƵŶĚĞƌ ƚŚĞ ĂƵƚŚŽƌŝƚǇ ŽĨ ƚŚĞ ŽĂƌĚ͘ ^ĞĐƚŝŽŶ ϱ͘ϯ

ZĞŐŝŽŶĂů ŽŵŵŝƚƚĞĞƐ͘ dŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ƐŚĂůů ĂƉƉŽŝŶƚ ƚǁŽ ZĞŐŝŽŶĂů ŽŵŵŝƚƚĞĞƐ ŽĨ ƚŚĞ ŽĂƌĚ Ͳ ŽŶĞ ĨŽƌ ĞŶƚƌĂů EĞǁ zŽƌŬ ĂŶĚ ŽŶĞ ĨŽƌ tĞƐƚĞƌŶ EĞǁ zŽƌŬ ƚŽ ƌĞǀŝĞǁ͕ ĞǀĂůƵĂƚĞ ĂŶĚ ƌĞĐŽŵŵĞŶĚ ƚŽ ƚŚĞ ŽĂƌĚ ƉƌŽũĞĐƚƐ ĂŶĚ ŐƌĂŶƚƐ ƚŚĂƚ ĂƌĞ ƉƌĞĚŽŵŝŶĂŶƚůǇ ƌĞŐŝŽŶĂů ŝŶ ƐĐŽƉĞ͘ dŚĞ ŵĞŵďĞƌƐŚŝƉ ŽĨ ĞĂĐŚ ZĞŐŝŽŶĂů ŽŵŵŝƚƚĞĞ ƐŚĂůů ŝŶĐůƵĚĞ ƚŚĞ WƌĞƐŝĚĞŶƚ ;ĂƐ ĂŶ ĞǆͲŽĨĨŝĐŝŽ ŶŽŶͲǀŽƚŝŶŐ ŵĞŵďĞƌͿ ĂŶĚ Ăůů dƌƵƐƚĞĞƐ ƌĞƐŝĚŝŶŐ ŝŶ ƚŚĞ ĂƉƉůŝĐĂďůĞ ƌĞŐŝŽŶ ŐŽǀĞƌŶĞĚ ďǇ ƐƵĐŚ ZĞŐŝŽŶĂů ŽŵŵŝƚƚĞĞ͘

^ĞĐƚŝŽŶ ϱ͘ϰ

ƵĚŝƚ ŽŵŵŝƚƚĞĞ͘ dŚĞ ŽĂƌĚ ƐŚĂůů ĂƉƉŽŝŶƚ ĨƌŽŵ ĂŵŽŶŐ ŝƚƐ dƌƵƐƚĞĞƐ ĂŶ ƵĚŝƚ ŽŵŵŝƚƚĞĞ͕ ǁŚŝĐŚ ǁŝůů ďĞ Ă ĐŽŵŵŝƚƚĞĞ ŽĨ ƚŚĞ ŽĂƌĚ͕ ĐŽŶƐŝƐƚŝŶŐ ŽĨ ƚŚĞ ŚĂŝƌ ĂŶĚ ƚŚƌĞĞ ;ϯͿ Žƌ ŵŽƌĞ ĂĚĚŝƚŝŽŶĂů dƌƵƐƚĞĞƐ͘ dŚŽƐĞ dƌƵƐƚĞĞƐ ǁŚŽ ĚŝƐĐůŽƐĞ Žƌ ƉƌĞƐĞŶƚ Ă ĐŽŶĨůŝĐƚ ŽĨ ŝŶƚĞƌĞƐƚ ǁŝƚŚ ƌĞƐƉĞĐƚ ƚŽ ƚŚĞ ĚƵƚŝĞƐ ŽĨ ƚŚĞ ƵĚŝƚ ŽŵŵŝƚƚĞĞ ƐŚĂůů ŶŽƚ ďĞ ĞůŝŐŝďůĞ ĨŽƌ ƐĞƌǀŝĐĞ ŽŶ ƚŚŝƐ ĐŽŵŵŝƚƚĞĞ͘ dŚĞ ƵĚŝƚ ŽŵŵŝƚƚĞĞ ƐŚĂůů ƌĞĐŽŵŵĞŶĚ ƚŽ ƚŚĞ ĨƵůů ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ĞĂĐŚ ǇĞĂƌ ĂŶ ŝŶĚĞƉĞŶĚĞŶƚ ĂƵĚŝƚŽƌ ĨŽƌ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ĂŶĚ ƐŚĂůů ĐĂƵƐĞ ƚŽ ďĞ ƉƌĞƉĂƌĞĚ ĂŶĚ

Ϭϱϵϱϳϵ͘ϬϬϬϬϬ ƵƐŝŶĞƐƐ ϭϯϬϮϴϮϱϯǀϳ

ƐƵďŵŝƚƚĞĚ ƚŽ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ Ăƚ ůĞĂƐƚ ŽŶĐĞ Ă ǇĞĂƌ ĂŶ ĂƵĚŝƚĞĚ ƐƚĂƚĞŵĞŶƚ ŽĨ ƚŚĞ ĨŝŶĂŶĐŝĂů ĐŽŶĚŝƚŝŽŶ ŽĨ ƚŚĞ ĐŽƌƉŽƌĂƚŝŽŶ ĂƐ ŽĨ ƚŚĞ ĐůŽƐĞ ŽĨ ƚŚĞ ĨŝƐĐĂů ǇĞĂƌ ĂŶĚ ŽĨ ƚŚĞ ƌĞĐĞŝƉƚƐ ĂŶĚ ĞǆƉĞŶĚŝƚƵƌĞƐ ĨŽƌ ĞĂĐŚ ǇĞĂƌ͘ ^ĞĐƚŝŽŶ ϱ͘ϱ

&ŝŶĂŶĐĞ ĂŶĚ KƉĞƌĂƚŝŽŶƐ ŽŵŵŝƚƚĞĞ͘ dŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ƐŚĂůů ĂƉƉŽŝŶƚ ĨƌŽŵ ĂŵŽŶŐ ŝƚƐ dƌƵƐƚĞĞƐ Ă &ŝŶĂŶĐĞ ĂŶĚ KƉĞƌĂƚŝŽŶƐ ŽŵŵŝƚƚĞĞ͕ ǁŚŝĐŚ ǁŝůů ďĞ Ă ĐŽŵŵŝƚƚĞĞ ŽĨ ƚŚĞ ŽĂƌĚ͕ ƚŽ ŽǀĞƌƐĞĞ ĂŶĚ͕ ƚŽ ƚŚĞ ĞǆƚĞŶƚ ĂƵƚŚŽƌŝǌĞĚ ďǇ ƌĞƐŽůƵƚŝŽŶ͕ ĂĐƚ ĨŽƌ ƚŚĞ ŽĂƌĚ ŽŶ ĨŝŶĂŶĐĞ ĂŶĚ ŽƉĞƌĂƚŝŽŶĂů ƌĞƋƵŝƌĞŵĞŶƚƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͘

^ĞĐƚŝŽŶ ϱ͘ϲ /ŶǀĞƐƚŵĞŶƚ ŽŵŵŝƚƚĞĞ͘ dŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ƐŚĂůů ĂƉƉŽŝŶƚ ĂŵŽŶŐ ŝƚƐ dƌƵƐƚĞĞƐ ĂŶ /ŶǀĞƐƚŵĞŶƚ ŽŵŵŝƚƚĞĞ͕ ǁŚŝĐŚ ǁŝůů ďĞ Ă ĐŽŵŵŝƚƚĞĞ ŽĨ ƚŚĞ ŽĂƌĚ͕ ƚŽ ŽǀĞƌƐĞĞ ĂŶĚ͕ ƚŽ ƚŚĞ ĞǆƚĞŶƚ ĂƵƚŚŽƌŝǌĞĚ ďǇ ƌĞƐŽůƵƚŝŽŶ͕ ĂĐƚ ĨŽƌ ƚŚĞ ŽĂƌĚ ŽŶ ŝŶǀĞƐƚŵĞŶƚ ƌĞƋƵŝƌĞŵĞŶƚƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͘ ^ĞĐƚŝŽŶ ϱ͘ϳ 'ŽǀĞƌŶĂŶĐĞ ŽŵŵŝƚƚĞĞ͘ dŚĞ ŚĂŝƌ ƐŚĂůů ƌĞĐŽŵŵĞŶĚ ĂŶĚ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ƐŚĂůů ĞĂĐŚ ǇĞĂƌ ĂƉƉŽŝŶƚ ĨƌŽŵ ĂŵŽŶŐ ŝƚƐ dƌƵƐƚĞĞƐ Ă 'ŽǀĞƌŶĂŶĐĞ ŽŵŵŝƚƚĞĞ͕ ǁŚŝĐŚ ǁŝůů ďĞ Ă ĐŽŵŵŝƚƚĞĞ ŽĨ ƚŚĞ ŽĂƌĚ͕ ĐŽŶƐŝƐƚŝŶŐ ŽĨ ĨŝǀĞ Žƌ ŵŽƌĞ dƌƵƐƚĞĞƐ͘ dŚĞ ŽŵŵŝƚƚĞĞ ƐŚĂůů͗ ;ĂͿ ĐŽŶĚƵĐƚ ĂŶ ĂŶŶƵĂů ŽĂƌĚ ƐĞůĨͲĂƐƐĞƐƐŵĞŶƚ ŽĨ ƐƚƌƵĐƚƵƌĞ͕ ĚŝǀĞƌƐŝƚǇ͕ ďĂůĂŶĐĞ ŽĨ ƐŬŝůůƐ͕ ĂŶĚ ƉĞƌĨŽƌŵĂŶĐĞ ŽĨ ƚŚĞ ŽĂƌĚ ;ďͿ

ƌĞǀŝĞǁ ƚŚĞ ǇͲ>ĂǁƐ ĞĂĐŚ ǇĞĂƌ ĂŶĚ ƌĞĐŽŵŵĞŶĚ ƐƵĐŚ ĐŚĂŶŐĞƐ ĂƐ ŝƚ ƐŚĂůů ĐŽŶƐŝĚĞƌ ĂƉƉƌŽƉƌŝĂƚĞ͖

;ĐͿ

ĂĨƚĞƌ ƐŽůŝĐŝƚĂƚŝŽŶ ŽĨ ƚĞŶƚĂƚŝǀĞ ŶŽŵŝŶĂƚŝŽŶƐ ĂŶĚ ĐŽŶƐƵůƚĂƚŝŽŶ ǁŝƚŚ ƚŚĞ ďŽĂƌĚ͕ ŶŽŵŝŶĂƚĞ dƌƵƐƚĞĞƐ ĨŽƌ ĞůĞĐƚŝŽŶ ďǇ ƚŚĞ ŽĂƌĚ ƚŽ Ĩŝůů ǀĂĐĂŶĐŝĞƐ ĂƐ ƚŚĞǇ ŽĐĐƵƌ͖ ĂŶĚ

;ĚͿ ^ĞĐƚŝŽŶ ϱ͘ϴ

ŶŽŵŝŶĂƚĞ Ă ƐůĂƚĞ ŽĨ ŽĨĨŝĐĞƌƐ ĞĂĐŚ ǇĞĂƌ͘

ŽŵŵƵŶŝƚǇ /ŵƉĂĐƚ ŽŵŵŝƚƚĞĞ͘ dŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ƐŚĂůů ĂƉƉŽŝŶƚ ĨƌŽŵ ĂŵŽŶŐ ŝƚƐ ŵĞŵďĞƌƐ Ă ŽŵŵƵŶŝƚǇ /ŵƉĂĐƚ ŽŵŵŝƚƚĞĞ͕ ǁŚŝĐŚ ǁŝůů ďĞ Ă ĐŽŵŵŝƚƚĞĞ ŽĨ ƚŚĞ ŽĂƌĚ͕ ĐŽŶƐŝƐƚŝŶŐ ŽĨ ĨŽƵƌ dƌƵƐƚĞĞƐ͕ ƚǁŽ ĨƌŽŵ ĞĂĐŚ ƌĞŐŝŽŶ

Ϭϱϵϱϳϵ͘ϬϬϬϬϬ ƵƐŝŶĞƐƐ ϭϯϬϮϴϮϱϯǀϳ

; ĞŶƚƌĂů EĞǁ zŽƌŬ ĂŶĚ tĞƐƚĞƌŶ EĞǁ zŽƌŬͿ ĞĂĐŚ ŽĨ ǁŚŽŵ ŚĂǀĞ ĞǆƉĞƌŝĞŶĐĞ ĂŶĚ ĨĂŵŝůŝĂƌŝƚǇ ǁŝƚŚ ƐƚƌĂƚĞŐŝĐ ĚĞǀĞůŽƉŵĞŶƚ͕ ĞǀĂůƵĂƚŝŽŶ ĂŶĚ ĚŝƐƐĞŵŝŶĂƚŝŽŶ ƐĞƌǀĞ ŽŶ ƚŚŝƐ ŽŵŵŝƚƚĞĞ͘ dŚĞ ŽŵŵƵŶŝƚǇ /ŵƉĂĐƚ ŽŵŵŝƚƚĞĞ ƐŚĂůů͗ ;ĂͿ

ƐƵƉƉŽƌƚ ƚŚĞ ŽĂƌĚΖƐ ĚĞĐŝƐŝŽŶ ŵĂŬŝŶŐ ĂŶĚ ƐƚƌĂƚĞŐŝĐ ĚĞǀĞůŽƉŵĞŶƚ ĂĐƚŝǀŝƚŝĞƐ ďǇ ŐƵŝĚŝŶŐ ƐƚĂĨĨƐ ƉůĂŶŶŝŶŐ ƉƌŽĐĞƐƐĞƐ͕ ƐƚƌĂƚĞŐŝĐ ƉƌŽƉŽƐĂůƐ͕ ŐŽĂůƐ ĂŶĚ ŽďũĞĐƚŝǀĞƐ͖

;ďͿ

Ăƚ ƚŚĞ ƌĞƋƵĞƐƚ ŽĨ ƐƚĂĨĨ Žƌ ƚŚĞ ŽĂƌĚ͕ ĐŽŶĚƵĐƚ ŝŶͲĚĞƉƚŚ͕ ĨŽĐƵƐĞĚ ƉƌŽŐƌĂŵŵĂƚŝĐ ƌĞǀŝĞǁ ƚŽ ƉƌŽǀŝĚĞ ŝŶƉƵƚ ƚŽ ƐƚƌĂƚĞŐŝĐ Žƌ ĂŶŶƵĂů ƉůĂŶƐ Žƌ ŝŶĚŝǀŝĚƵĂů ƉƌŽũĞĐƚƐ͖

;ĐͿ

ƉƌŽǀŝĚĞ ŐƵŝĚĂŶĐĞ ƚŽ ďŽƚŚ ŽĂƌĚ ĂŶĚ ƐƚĂĨĨ ŽŶ ŵĂƚƚĞƌƐ ŽĨ ĂƐƐĞƐƐŝŶŐͬĞǀĂůƵĂƚŝŶŐ ƚŚĞ ĞĨĨĞĐƚŝǀĞŶĞƐƐ ŽĨ ŝŶŝƚŝĂƚŝǀĞƐ ĂŶĚ ƉƌŽũĞĐƚƐ ƵŶĚĞƌƚĂŬĞŶ ďǇ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͘ dŚŝƐ ŝŶĐůƵĚĞƐ ĚĞƐŝŐŶ ŽĨ ƚŚĞ ĂƐƐĞƐƐŵĞŶƚͬĞǀĂůƵĂƚŝŽŶ ĂƐ ƉĂƌƚ ŽĨ ƚŚĞ ƉƌŽũĞĐƚ ĚĞǀĞůŽƉŵĞŶƚ ƉƌŽĐĞƐƐ͕ ŝŶƚĞƌŝŵ ĂƐƐĞƐƐŵĞŶƚ ŽĨ ƉƌŽŐƌĞƐƐ ĂŶĚ ƌĞǀŝĞǁ ŽĨ ĨŝŶĂů ƌĞƐƵůƚƐ͖

;ĚͿ

ǁŚĞƌĞ ĂƉƉƌŽƉƌŝĂƚĞ͕ ďĂƐĞĚ ŽŶ ƌĞǀŝĞǁ ŽĨ ĞǀĂůƵĂƚŝŽŶƐ͕ ƌĞĐŽŵŵĞŶĚ ĐŚĂŶŐĞƐ Žƌ ĞŶŚĂŶĐĞŵĞŶƚƐ ƚŽ ƉƌŽũĞĐƚƐ ƚŽ ĂĐŚŝĞǀĞ ŐƌĞĂƚĞƌ ŝŵƉĂĐƚ͕ ďŽƚŚ ĨŽƌ ƚŚĞ ƉĞŽƉůĞ ƐĞƌǀĞĚ ďǇ ƚŚĞ ƉƌŽũĞĐƚ ĂŶĚ ƚŚĞ ůĂƌŐĞƌ ĐŽŵŵƵŶŝƚǇ͖

;ĞͿ

ŵĂŬĞ ƌĞĐŽŵŵĞŶĚĂƚŝŽŶƐ ŽŶ ĚŝƐƐĞŵŝŶĂƚŝŽŶ ƚŚĂƚ ĞĨĨĞĐƚŝǀĞůǇ ƐƉƌĞĂĚƐ ƚŚĞ ǁŽƌŬ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ďĞǇŽŶĚ ŝƚƐ ŝŵŵĞĚŝĂƚĞ ĂƵĚŝĞŶĐĞƐ͖

;ĨͿ

ƉƌŽŵŽƚĞ ƚŚĞ ĚĞǀĞůŽƉŵĞŶƚ ŽĨ ŽŶŐŽŝŶŐ ĐŽŵƉƌĞŚĞŶƐŝǀĞ ƌĞƉŽƌƚŝŶŐ ŽŶ ƚŚĞ ŝŵƉĂĐƚ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶΖƐ ƉƌŽŐƌĂŵƐ ĂŶĚ ƉƌŽũĞĐƚƐ͕ ĂŶĚ ƚŚĞ ĚĞǀĞůŽƉŵĞŶƚ ŽĨ ĂŶ ŝŶĨƌĂƐƚƌƵĐƚƵƌĞ ǁŝƚŚŝŶ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ĨŽƌ ƚŚŝƐ ǁŽƌŬ͖

;ŐͿ

ŐƵŝĚĞ ƚŚĞ ĂĐƚŝǀŝƚŝĞƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶΖƐ ĚǀŽĐĂĐǇ ĞĨĨŽƌƚƐ ĐŽŶƐŝƐƚĞŶƚ ǁŝƚŚ ƚŚĞ 'ŽĂůƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͘ KǀĞƌƐĞĞ ƚŚĞ ĐŽŵƉůŝĂŶĐĞ ǁŝƚŚ &ĞĚĞƌĂů ĂŶĚ ^ƚĂƚĞ ůĞŐĂů ƌĞƋƵŝƌĞŵĞŶƚƐ ǁŚŝůĞ ĞĨĨĞĐƚŝǀĞůǇ ĨŽƌǁĂƌĚŝŶŐ ŝŵƉŽƌƚĂŶƚ ŝƐƐƵĞƐ ƚŚĂƚ ƐƵƉƉŽƌƚ ƚŚĞ ŚĞĂůƚŚ ŶĞĞĚƐ ŽĨ ŽƵƌ ŽŵŵƵŶŝƚǇ͖ ĂŶĚ

Ϭϱϵϱϳϵ͘ϬϬϬϬϬ ƵƐŝŶĞƐƐ ϭϯϬϮϴϮϱϯǀϳ

;ŚͿ

ƌĞƉŽƌƚ ƉƌŽŐƌĞƐƐ͕ ĨŝŶĚŝŶŐƐ ĂŶĚ ĐŚĂůůĞŶŐĞƐ ƚŽ ƚŚĞ ŽĂƌĚ Ăƚ ƌĞŐƵůĂƌ ŽĂƌĚ ŵĞĞƚŝŶŐƐ͘

^ĞĐƚŝŽŶ ϱ͘ϵ

ŽŵŵŝƚƚĞĞƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͘ dŚĞ ŽĂƌĚ ŵĂǇ͕ ŝŶ ĂĚĚŝƚŝŽŶ ƚŽ ĐŽŵŵŝƚƚĞĞƐ ŽĨ ƚŚĞ ŽĂƌĚ͕ ĂƉƉŽŝŶƚ ĐŽŵŵŝƚƚĞĞƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ƚŽ ƐĞƌǀĞ Ăƚ ƚŚĞ ƉůĞĂƐƵƌĞ ŽĨ ƚŚĞ ŽĂƌĚ͕ ǁŝƚŚ ƐƵĐŚ ƉŽǁĞƌƐ ĂŶĚ ƚŽ ƉĞƌĨŽƌŵ ƐƵĐŚ ƐƉĞĐŝĂů ĨƵŶĐƚŝŽŶƐ ĂƐ ƚŚĞ ŽĂƌĚ ŵĂǇ ĚĞƐŝŐŶĂƚĞ͘ WĞƌƐŽŶƐ ŽƚŚĞƌ ƚŚĂŶ ĚŝƌĞĐƚŽƌƐ ŵĂǇ ďĞ ŵĞŵďĞƌƐ ŽĨ ĐŽŵŵŝƚƚĞĞƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͖ ƉƌŽǀŝĚĞĚ͕ ŚŽǁĞǀĞƌ͕ ƚŚĂƚ Ăƚ ůĞĂƐƚ ƚǁŽ ŵĞŵďĞƌƐ ŽĨ ĞĂĐŚ ƐƵĐŚ ĐŽŵŵŝƚƚĞĞ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ƐŚĂůů ďĞ dƌƵƐƚĞĞƐ͘ ŽŵŵŝƚƚĞĞƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ŚĂǀĞ ŶŽ ĂƵƚŚŽƌŝƚǇ ƚŽ ĂĐƚ ŽŶ ďĞŚĂůĨ ŽĨ ƚŚĞ ŽĂƌĚ Žƌ ƚŽ ďŝŶĚ ƚŚĞ ŽĂƌĚ͘

^ĞĐƚŝŽŶ ϱ͘ϭϬ WĂƌƚŝĐŝƉĂƚŝŽŶ ŽŶ ŽŵŵŝƚƚĞĞƐ͘ ĂĐŚ dƌƵƐƚĞĞ ŝƐ ĞǆƉĞĐƚĞĚ ƚŽ ƐĞƌǀĞ ŽŶ Ăƚ ůĞĂƐƚ ƚǁŽ ;ϮͿ ĐŽŵŵŝƚƚĞĞƐ͕ ŝŶĐůƵĚŝŶŐ Ă ZĞŐŝŽŶĂů ŽŵŵŝƚƚĞĞ͕ ĂƐ ĚĞƐĐƌŝďĞĚ ŝŶ ^ĞĐƚŝŽŶ ϱ͘ϯ ŽĨ ƚŚŝƐ ƌƚŝĐůĞ͘

^ĞĐƚŝŽŶ ϱ͘ϭϭ ĐƚƐ ĂŶĚ WƌŽĐĞĞĚŝŶŐƐ͘ ĂĐŚ ĐŽŵŵŝƚƚĞĞ ǁŝůů ŬĞĞƉ ƌĞŐƵůĂƌ ŵŝŶƵƚĞƐ ŽĨ ŝƚƐ ƉƌŽĐĞĞĚŝŶŐƐ ĂŶĚ ƌĞƉŽƌƚ ŝƚƐ ĂĐƚŝŽŶƐ ƚŽ ƚŚĞ ŽĂƌĚ ǁŚĞŶ ƌĞƋƵŝƌĞĚ͘

^ĞĐƚŝŽŶ ϱ͘ϭϮ DĞĞƚŝŶŐƐ ŽĨ ŽŵŵŝƚƚĞĞƐ͘ ŽŵŵŝƚƚĞĞƐ ǁŝůů ŵĞĞƚ Ăƚ ƐƵĐŚ ƚŝŵĞƐ ĂŶĚ ƉůĂĐĞƐ ĂƐ ƚŚĞ ĐŚĂŝƌ ŽĨ ƚŚĞ ĐŽŵŵŝƚƚĞĞ ĚĞƚĞƌŵŝŶĞƐ ĂŶĚ ƚŚĞ ŶŽƚŝĐĞ ŽĨ ƚŚĞ ŵĞĞƚŝŶŐ ƐƉĞĐŝĨŝĞƐ͘ DĞĞƚŝŶŐƐ ŽĨ ĐŽŵŵŝƚƚĞĞƐ ŽĨ ƚŚĞ ŽĂƌĚ ǁŝůů ďĞ ŐŽǀĞƌŶĞĚ ďǇ ƚŚĞ ƉƌŽǀŝƐŝŽŶƐ ŽĨ ^ĞĐƚŝŽŶƐ ϯ͘ϭϬ͕ ϯ͘ϭϭ͕ ϯ͘ϭϮ͕ ϯ͘ϭϰ͕ ϯ͘ϭϱ͕ ϯ͘ϭϲ͕ ϯ͘ϭϳ ĂŶĚ ϯ͘ϭϴ ŽĨ ƌƚŝĐůĞ /// ŽĨ ƚŚĞƐĞ ďǇͲůĂǁƐ͕ ǁŚŝĐŚ ŐŽǀĞƌŶ ŵĞĞƚŝŶŐƐ ŽĨ ƚŚĞ ĞŶƚŝƌĞ ŽĂƌĚ͕ ĞǆĐĞƉƚ ƚŚĂƚ ŶŽƚŝĐĞ ŽĨ ŵĞĞƚŝŶŐƐ ŽĨ ƚŚĞ ǆĞĐƵƚŝǀĞ ŽŵŵŝƚƚĞĞ ǁŝůů ďĞ ŐŝǀĞŶ ŶŽƚ ůĞƐƐ ƚŚĂŶ ƚǁĞŶƚǇͲĨŽƵƌ ŚŽƵƌƐ ďĞĨŽƌĞ ƐƵĐŚ ŵĞĞƚŝŶŐ͘

Zd/ > s/ ǆĞŵƉƚ ĐƚŝǀŝƚŝĞƐ ^ĞĐƚŝŽŶ ϲ͘ϭ

EŽƚǁŝƚŚƐƚĂŶĚŝŶŐ ĂŶǇ ŽƚŚĞƌ ƉƌŽǀŝƐŝŽŶ ŽĨ ƚŚĞƐĞ ǇͲůĂǁƐ͕ ŶŽ dƌƵƐƚĞĞ͕ ŽĨĨŝĐĞƌ͕ ĞŵƉůŽǇĞĞ͕ Žƌ ƌĞƉƌĞƐĞŶƚĂƚŝǀĞ ŽĨ ƚŚŝƐ ŽƌƉŽƌĂƚŝŽŶ ƐŚĂůů ƚĂŬĞ ĂŶǇ ĂĐƚŝŽŶ ƚŽ ĐĂƌƌǇ ŽŶ ĂŶǇ ĂĐƚŝǀŝƚǇ ďǇ Žƌ ŽŶ ďĞŚĂůĨ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ŶŽƚ ƉĞƌŵŝƚƚĞĚ ƚŽ ďĞ ƚĂŬĞŶ Žƌ

Ϭϱϵϱϳϵ͘ϬϬϬϬϬ ƵƐŝŶĞƐƐ ϭϯϬϮϴϮϱϯǀϳ

ĐĂƌƌŝĞĚ ŽŶ ďǇ ĂŶ ŽƌŐĂŶŝǌĂƚŝŽŶ ĞǆĞŵƉƚ ƵŶĚĞƌ ^ĞĐƚŝŽŶ ϱϬϭ;ĐͿ;ϯͿ ŽĨ ƚŚĞ /ŶƚĞƌŶĂů ZĞǀĞŶƵĞ ŽĚĞ ĂŶĚ ŝƚƐ ZĞŐƵůĂƚŝŽŶƐ ĂƐ ƚŚĞǇ ŶŽǁ ĞǆŝƐƚ Žƌ ĂƐ ƚŚĞǇ ŵĂǇ ďĞ ĂŵĞŶĚĞĚ͘ Zd/ > s// /ŶĚĞŵŶŝĨŝĐĂƚŝŽŶ ĂŶĚ /ŶƐƵƌĂŶĐĞ ^ĞĐƚŝŽŶ ϳ͘ϭ

ƵƚŚŽƌŝǌĞĚ /ŶĚĞŵŶŝĨŝĐĂƚŝŽŶ͘ hŶůĞƐƐ ĐůĞĂƌůǇ ƉƌŽŚŝďŝƚĞĚ ďǇ ůĂǁ Žƌ ^ĞĐƚŝŽŶ ϳ͘Ϯ ŽĨ ƚŚŝƐ ƌƚŝĐůĞ s//͕ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ƐŚĂůů ŝŶĚĞŵŶŝĨǇ ĂŶǇ ƉĞƌƐŽŶ ;Η/ŶĚĞŵŶŝĨŝĞĚ WĞƌƐŽŶΗͿ ŵĂĚĞ͕ Žƌ ƚŚƌĞĂƚĞŶĞĚ ƚŽ ďĞ ŵĂĚĞ͕ Ă ƉĂƌƚǇ ŝŶ ĂŶǇ ĂĐƚŝŽŶ Žƌ ƉƌŽĐĞĞĚŝŶŐ͕ ǁŚĞƚŚĞƌ Đŝǀŝů͕ ĐƌŝŵŝŶĂů͕ ĂĚŵŝŶŝƐƚƌĂƚŝǀĞ͕ ŝŶǀĞƐƚŝŐĂƚŝǀĞ Žƌ ŽƚŚĞƌǁŝƐĞ͕ ŝŶĐůƵĚŝŶŐ ĂŶǇ ĂĐƚŝŽŶ ďǇ Žƌ ŝŶ ƚŚĞ ƌŝŐŚƚ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͕ ďǇ ƌĞĂƐŽŶ ŽĨ ƚŚĞ ĨĂĐƚ ƚŚĂƚ ŚĞ Žƌ ƐŚĞ ;Žƌ ŚŝƐ Žƌ ŚĞƌ ƚĞƐƚĂƚŽƌ Žƌ ŝŶƚĞƐƚĂƚĞͿ͕ ǁŚĞƚŚĞƌ ďĞĨŽƌĞ Žƌ ĂĨƚĞƌ ĂĚŽƉƚŝŽŶ ŽĨ ƚŚŝƐ ^ĞĐƚŝŽŶ͕ ;ĂͿ ŝƐ Žƌ ǁĂƐ Ă dƌƵƐƚĞĞ Žƌ KĨĨŝĐĞƌ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͕ Žƌ ;ďͿ ŝŶ ĂĚĚŝƚŝŽŶ ŝƐ ƐĞƌǀŝŶŐ Žƌ ƐĞƌǀĞĚ͕ ŝŶ ĂŶǇ ĐĂƉĂĐŝƚǇ͕ Ăƚ ƚŚĞ ƌĞƋƵĞƐƚ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͕ ĂƐ Ă ĚŝƌĞĐƚŽƌ Žƌ ŽĨĨŝĐĞƌ ŽĨ ĂŶǇ ŽƚŚĞƌ ĐŽƌƉŽƌĂƚŝŽŶ͕ Žƌ ĂŶǇ ƉĂƌƚŶĞƌƐŚŝƉ͕ ũŽŝŶƚ ǀĞŶƚƵƌĞ͕ ƚƌƵƐƚ͕ ĞŵƉůŽǇĞĞ ďĞŶĞĨŝƚ ƉůĂŶ Žƌ ŽƚŚĞƌ ĞŶƚĞƌƉƌŝƐĞ͘ dŚĞ ŝŶĚĞŵŶŝĨŝĐĂƚŝŽŶ ƐŚĂůů ďĞ ĂŐĂŝŶƐƚ Ăůů ũƵĚŐŵĞŶƚƐ͕ ĨŝŶĞƐ͕ ƉĞŶĂůƚŝĞƐ͕ ĂŵŽƵŶƚƐ ƉĂŝĚ ŝŶ ƐĞƚƚůĞŵĞŶƚ ;ƉƌŽǀŝĚĞĚ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ƐŚĂůů ŚĂǀĞ ĐŽŶƐĞŶƚĞĚ ƚŽ ƐƵĐŚ ƐĞƚƚůĞŵĞŶƚͿ ĂŶĚ ƌĞĂƐŽŶĂďůĞ ĞǆƉĞŶƐĞƐ͕ ŝŶĐůƵĚŝŶŐ ĂƚƚŽƌŶĞǇƐΖ ĨĞĞƐ ĂŶĚ ĐŽƐƚƐ ŽĨ ŝŶǀĞƐƚŝŐĂƚŝŽŶ͕ ŝŶĐƵƌƌĞĚ ďǇ ĂŶ /ŶĚĞŵŶŝĨŝĞĚ WĞƌƐŽŶ ǁŝƚŚ ƌĞƐƉĞĐƚ ƚŽ ĂŶǇ ƐƵĐŚ ƚŚƌĞĂƚĞŶĞĚ Žƌ ĂĐƚƵĂů ĂĐƚŝŽŶ Žƌ ƉƌŽĐĞĞĚŝŶŐ͕ ĂŶĚ ĂŶǇ ĂƉƉĞĂů ƚŚĞƌĞŽĨ͘

^ĞĐƚŝŽŶ ϳ͘Ϯ

WƌŽŚŝďŝƚĞĚ /ŶĚĞŵŶŝĨŝĐĂƚŝŽŶ͘ dŚĞ ŽƌƉŽƌĂƚŝŽŶ ƐŚĂůů ŶŽƚ ŝŶĚĞŵŶŝĨǇ ĂŶǇ ƉĞƌƐŽŶ ŝĨ Ă ũƵĚŐŵĞŶƚ Žƌ ŽƚŚĞƌ ĨŝŶĂů ĂĚũƵĚŝĐĂƚŝŽŶ ĂĚǀĞƌƐĞ ƚŽ ƚŚĞ /ŶĚĞŵŶŝĨŝĞĚ WĞƌƐŽŶ ;Žƌ ƚŽ ƚŚĞ ƉĞƌƐŽŶ ǁŚŽƐĞ ĂĐƚŝŽŶƐ ĂƌĞ ƚŚĞ ďĂƐŝƐ ĨŽƌ ƚŚĞ ĂĐƚŝŽŶ Žƌ ƉƌŽĐĞĞĚŝŶŐͿ ĞƐƚĂďůŝƐŚĞƐ͕ Žƌ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŝŶ ŐŽŽĚ ĨĂŝƚŚ ĚĞƚĞƌŵŝŶĞƐ͕ ƚŚĂƚ ƐƵĐŚ ƉĞƌƐŽŶΖƐ ĂĐƚƐ ǁĞƌĞ ĐŽŵŵŝƚƚĞĚ ŝŶ ďĂĚ ĨĂŝƚŚ Žƌ ǁĞƌĞ ƚŚĞ ƌĞƐƵůƚ ŽĨ ĂĐƚŝǀĞ ĂŶĚ ĚĞůŝďĞƌĂƚĞ ĚŝƐŚŽŶĞƐƚǇ ĂŶĚ ǁĞƌĞ ŵĂƚĞƌŝĂů ƚŽ ƚŚĞ ĐĂƵƐĞ ŽĨ ĂĐƚŝŽŶ ƐŽ ĂĚũƵĚŝĐĂƚĞĚ Žƌ ƚŚĂƚ ŚĞ Žƌ ƐŚĞ ƉĞƌƐŽŶĂůůǇ ŐĂŝŶĞĚ ŝŶ ĨĂĐƚ Ă ĨŝŶĂŶĐŝĂů ƉƌŽĨŝƚ Žƌ ŽƚŚĞƌ ĂĚǀĂŶƚĂŐĞ ƚŽ ǁŚŝĐŚ ŚĞ Žƌ ƐŚĞ ǁĂƐ ŶŽƚ ůĞŐĂůůǇ ĞŶƚŝƚůĞĚ͘

Ϭϱϵϱϳϵ͘ϬϬϬϬϬ ƵƐŝŶĞƐƐ ϭϯϬϮϴϮϱϯǀϳ

^ĞĐƚŝŽŶ ϳ͘ϯ

ĚǀĂŶĐĞŵĞŶƚ ŽĨ ǆƉĞŶƐĞƐ͘ dŚĞ ŽƌƉŽƌĂƚŝŽŶ ƐŚĂůů͕ ŽŶ ƌĞƋƵĞƐƚ ŽĨ ĂŶǇ /ŶĚĞŵŶŝĨŝĞĚ WĞƌƐŽŶ ǁŚŽ ŝƐ Žƌ ŵĂǇ ďĞ ĞŶƚŝƚůĞĚ ƚŽ ďĞ ŝŶĚĞŵŶŝĨŝĞĚ ďǇ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͕ ƉĂǇ Žƌ ƉƌŽŵƉƚůǇ ƌĞŝŵďƵƌƐĞ ƚŚĞ /ŶĚĞŵŶŝĨŝĞĚ WĞƌƐŽŶΖƐ ƌĞĂƐŽŶĂďůǇ ŝŶĐƵƌƌĞĚ ĞǆƉĞŶƐĞƐ ŝŶ ĐŽŶŶĞĐƚŝŽŶ ǁŝƚŚ Ă ƚŚƌĞĂƚĞŶĞĚ Žƌ ĂĐƚƵĂů ĂĐƚŝŽŶ Žƌ ƉƌŽĐĞĞĚŝŶŐ ƉƌŝŽƌ ƚŽ ŝƚƐ ĨŝŶĂů ĚŝƐƉŽƐŝƚŝŽŶ͘ ,ŽǁĞǀĞƌ͕ ŶŽ ƐƵĐŚ ĂĚǀĂŶĐĞŵĞŶƚ ŽĨ ĞǆƉĞŶƐĞƐ ƐŚĂůů ďĞ ŵĂĚĞ ƵŶůĞƐƐ ƚŚĞ /ŶĚĞŵŶŝĨŝĞĚ WĞƌƐŽŶ ŵĂŬĞƐ Ă ďŝŶĚŝŶŐ͕ ǁƌŝƚƚĞŶ ĐŽŵŵŝƚŵĞŶƚ ƚŽ ƌĞƉĂǇ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͕ ǁŝƚŚ ŝŶƚĞƌĞƐƚ͕ ĨŽƌ ĂŶǇ ĂŵŽƵŶƚ ĂĚǀĂŶĐĞĚ ĨŽƌ ǁŚŝĐŚ ŝƚ ŝƐ ƵůƚŝŵĂƚĞůǇ ĚĞƚĞƌŵŝŶĞĚ ƚŚĂƚ ŚĞ Žƌ ƐŚĞ ŝƐ ŶŽƚ ĞŶƚŝƚůĞĚ ƚŽ ďĞ ŝŶĚĞŵŶŝĨŝĞĚ ƵŶĚĞƌ ƚŚĞ ůĂǁ Žƌ ^ĞĐƚŝŽŶ ϳ͘Ϯ ŽĨ ƚŚŝƐ ƌƚŝĐůĞ s//͘ Ŷ /ŶĚĞŵŶŝĨŝĞĚ WĞƌƐŽŶ ƐŚĂůů ĐŽŽƉĞƌĂƚĞ ŝŶ ŐŽŽĚ ĨĂŝƚŚ ǁŝƚŚ ĂŶǇ ƌĞƋƵĞƐƚ ďǇ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ƚŚĂƚ ĐŽŵŵŽŶ ůĞŐĂů ĐŽƵŶƐĞů ďĞ ƵƐĞĚ ďǇ ƚŚĞ ƉĂƌƚŝĞƐ ƚŽ ƐƵĐŚ ĂĐƚŝŽŶ Žƌ ƉƌŽĐĞĞĚŝŶŐ ǁŚŽ ĂƌĞ ƐŝŵŝůĂƌůǇ ƐŝƚƵĂƚĞĚ ƵŶůĞƐƐ ŝƚ ǁŽƵůĚ ďĞ ŝŶĂƉƉƌŽƉƌŝĂƚĞ ƚŽ ĚŽ ƐŽ ďĞĐĂƵƐĞ ŽĨ ĂĐƚƵĂů Žƌ ƉŽƚĞŶƚŝĂů ĐŽŶĨůŝĐƚƐ ďĞƚǁĞĞŶ ƚŚĞ ŝŶƚĞƌĞƐƚƐ ŽĨ ƚŚĞ ƉĂƌƚŝĞƐ͘

^ĞĐƚŝŽŶ ϳ͘ϰ

/ŶĚĞŵŶŝĨŝĐĂƚŝŽŶ ŽĨ KƚŚĞƌƐ͘ hŶůĞƐƐ ĐůĞĂƌůǇ ƉƌŽŚŝďŝƚĞĚ ďǇ ůĂǁ Žƌ ^ĞĐƚŝŽŶ ϳ͘Ϯ ŽĨ ƚŚŝƐ ƌƚŝĐůĞ s//͕ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŵĂǇ ĂƉƉƌŽǀĞ ŽƌƉŽƌĂƚŝŽŶ ŝŶĚĞŵŶŝĨŝĐĂƚŝŽŶ ĂƐ ƐĞƚ ĨŽƌƚŚ ŝŶ ^ĞĐƚŝŽŶ ϳ͘ϭ ŽĨ ƚŚŝƐ ƌƚŝĐůĞ s// Žƌ ĂĚǀĂŶĐĞŵĞŶƚ ŽĨ ĞǆƉĞŶƐĞƐ ĂƐ ƐĞƚ ĨŽƌƚŚ ŝŶ ^ĞĐƚŝŽŶ ϳ͘ϯ ŽĨ ƚŚŝƐ ƌƚŝĐůĞ s//͕ ƚŽ Ă ƉĞƌƐŽŶ ;Žƌ ƚŚĞ ƚĞƐƚĂƚŽƌ Žƌ ŝŶƚĞƐƚĂƚĞ ŽĨ Ă ƉĞƌƐŽŶͿ ǁŚŽ ŝƐ Žƌ ǁĂƐ ĞŵƉůŽǇĞĚ ďǇ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ Žƌ ǁŚŽ ŝƐ Žƌ ǁĂƐ Ă ǀŽůƵŶƚĞĞƌ ĨŽƌ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͕ ĂŶĚ ǁŚŽ ŝƐ ŵĂĚĞ͕ Žƌ ƚŚƌĞĂƚĞŶĞĚ ƚŽ ďĞ ŵĂĚĞ͕ Ă ƉĂƌƚǇ ŝŶ ĂŶǇ ĂĐƚŝŽŶ Žƌ ƉƌŽĐĞĞĚŝŶŐ ͕ ďǇ ƌĞĂƐŽŶ ŽĨ ƚŚĞ ĨĂĐƚ ŽĨ ƐƵĐŚ ĞŵƉůŽǇŵĞŶƚ Žƌ ǀŽůƵŶƚĞĞƌ ĂĐƚŝǀŝƚǇ͕ ŝŶĐůƵĚŝŶŐ ĂĐƚŝŽŶƐ ƵŶĚĞƌƚĂŬĞŶ ŝŶ ĐŽŶŶĞĐƚŝŽŶ ǁŝƚŚ ƐĞƌǀŝĐĞ Ăƚ ƚŚĞ ƌĞƋƵĞƐƚ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ŝŶ ĂŶǇ ĐĂƉĂĐŝƚǇ ĨŽƌ ĂŶǇ ŽƚŚĞƌ ĐŽƌƉŽƌĂƚŝŽŶ͕ ƉĂƌƚŶĞƌƐŚŝƉ͕ ũŽŝŶƚ ǀĞŶƚƵƌĞ͕ ƚƌƵƐƚ͕ ĞŵƉůŽǇĞĞ ďĞŶĞĨŝƚ ƉůĂŶ Žƌ ŽƚŚĞƌ ĞŶƚĞƌƉƌŝƐĞ͘

^ĞĐƚŝŽŶ ϳ͘ϱ

ĞƚĞƌŵŝŶĂƚŝŽŶ ŽĨ ůŶĚĞŵŶŝĨŝĐĂƚŝŽŶ͘ /ŶĚĞŵŶŝĨŝĐĂƚŝŽŶ ŵĂŶĚĂƚĞĚ ďǇ Ă ĨŝŶĂů ŽƌĚĞƌ ŽĨ Ă ĐŽƵƌƚ ŽĨ ĐŽŵƉĞƚĞŶƚ ũƵƌŝƐĚŝĐƚŝŽŶ ǁŝůů ďĞ ƉĂŝĚ͘ ĨƚĞƌ ƚĞƌŵŝŶĂƚŝŽŶ Žƌ ĚŝƐƉŽƐŝƚŝŽŶ ŽĨ ĂŶǇ ĂĐƚƵĂů Žƌ ƚŚƌĞĂƚĞŶĞĚ ĂĐƚŝŽŶ Žƌ ƉƌŽĐĞĞĚŝŶŐ ĂŐĂŝŶƐƚ ĂŶ /ŶĚĞŵŶŝĨŝĞĚ WĞƌƐŽŶ͕ ŝĨ ŝŶĚĞŵŶŝĨŝĐĂƚŝŽŶ ŚĂƐ ŶŽƚ ďĞĞŶ ŽƌĚĞƌĞĚ ďǇ Ă ĐŽƵƌƚ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ƐŚĂůů͕ ƵƉŽŶ ǁƌŝƚƚĞŶ ƌĞƋƵĞƐƚ ďǇ ƚŚĞ /ŶĚĞŵŶŝĨŝĞĚ WĞƌƐŽŶ͕ ĚĞƚĞrŵŝŶĞ ǁŚĞƚŚĞƌ ĂŶĚ ƚŽ ǁŚĂƚ ĞǆƚĞŶƚ ŝŶĚĞŵŶŝĨŝĐĂƚŝŽŶ ŝƐ ƉĞƌŵŝƚƚĞĚ ƉƵƌƐƵĂŶƚ ƚŽ

Ϭϱϵϱϳϵ͘ϬϬϬϬϬ ƵƐŝŶĞƐƐ ϭϯϬϮϴϮϱϯǀϳ

ƚŚĞƐĞ ǇͲůĂǁƐ͘ ĞĨŽƌĞ ŝŶĚĞŵŶŝĨŝĐĂƚŝŽŶ ĐĂŶ ŽĐĐƵƌ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŵƵƐƚ ĞǆƉůŝĐŝƚůǇ ĨŝŶĚ ƚŚĂƚ ƐƵĐŚ ŝŶĚĞŵŶŝĨŝĐĂƚŝŽŶ ǁŝůů ŶŽƚ ǀŝŽůĂƚĞ ƚŚĞ ƉƌŽǀŝƐŝŽŶƐ ŽĨ ^ĞĐƚŝŽŶ ϳ͘Ϯ ŽĨ ƚŚŝƐ ƌƚŝĐůĞ s//͘ EŽ dƌƵƐƚĞĞ ǁŝƚŚ Ă ƉĞƌƐŽŶĂů ŝŶƚĞƌĞƐƚ ŝŶ ƚŚĞ ŽƵƚĐŽŵĞ͕ Žƌ ǁŚŽ ŝƐ Ă ƉĂƌƚǇ ƚŽ ƐƵĐŚ ĂĐƚƵĂů Žƌ ƚŚƌĞĂƚĞŶĞĚ ĂĐƚŝŽŶ Žƌ ƉƌŽĐĞĞĚŝŶŐ ĐŽŶĐĞƌŶŝŶŐ ǁŚŝĐŚ ŝŶĚĞŵŶŝĨŝĐĂƚŝŽŶ ŝƐ ƐŽƵŐŚƚ͕ ƐŚĂůů ƉĂƌƚŝĐŝƉĂƚĞ ŝŶ ƚŚŝƐ ĚĞƚĞƌŵŝŶĂƚŝŽŶ͘ /Ĩ Ă ƋƵŽƌƵŵ ŽĨ ĚŝƐŝŶƚĞƌĞƐƚĞĚ dƌƵƐƚĞĞƐ ŝƐ ŶŽƚ ŽďƚĂŝŶĂďůĞ͕ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ƐŚĂůů ĂĐƚ ŽŶůǇ ĂĨƚĞƌ ƌĞĐĞŝǀŝŶŐ ƚŚĞ ŽƉŝŶŝŽŶ ŝŶ ǁƌŝƚŝŶŐ ŽĨ ŝŶĚĞƉĞŶĚĞŶƚ ůĞŐĂů ĐŽƵŶƐĞů ƚŚĂƚ ŝŶĚĞŵŶŝĨŝĐĂƚŝŽŶ ŝƐ ƉƌŽƉĞƌ ŝŶ ƚŚĞ ĐŝƌĐƵŵƐƚĂŶĐĞƐ ƵŶĚĞƌ ƚŚĞŶ ĂƉƉůŝĐĂďůĞ ůĂǁ ĂŶĚ ƚŚĞƐĞ ǇͲůĂǁƐ͘ ^ĞĐƚŝŽŶ ϳ͘ϲ

ŝŶĚŝŶŐ ĨĨĞĐƚ͘ ŶǇ ƉĞƌƐŽŶ ĞŶƚŝƚůĞĚ ƚŽ ŝŶĚĞŵŶŝĨŝĐĂƚŝŽŶ ƵŶĚĞƌ ƚŚĞƐĞ Ǉ ůĂǁƐ

ŚĂƐ Ă ůĞŐĂůůǇ ĞŶĨŽƌĐĞĂďůĞ ƌŝŐŚƚ ƚŽ ŝŶĚĞŵŶŝĨŝĐĂƚŝŽŶ ǁŚŝĐŚ ĐĂŶŶŽƚ ďĞ ĂďƌŝĚŐĞĚ ďǇ ĂŵĞŶĚŵĞŶƚ ŽĨ ƚŚĞƐĞ ǇͲůĂǁƐ ǁŝƚŚ ƌĞƐƉĞĐƚ ƚŽ ĂŶǇ ĞǀĞŶƚ͕ ĂĐƚŝŽŶ Žƌ ŽŵŝƐƐŝŽŶ ŽĐĐƵƌƌŝŶŐ ƉƌŝŽƌ ƚŽ ƚŚĞ ĚĂƚĞ ŽĨ ƐƵĐŚ ĂŵĞŶĚŵĞŶƚ͘ ^ĞĐƚŝŽŶ ϳ͘ϳ

/ŶƐƵƌĂŶĐĞ dŚĞ ŽƌƉŽƌĂƚŝŽŶ ŝƐ ŶŽƚ ƌĞƋƵŝƌĞĚ ƚŽ ƉƵƌĐŚĂƐĞ dƌƵƐƚĞĞƐΖ ĂŶĚ

ŽĨĨŝĐĞƌƐΖ ůŝĂďŝůŝƚǇ ŝŶƐƵƌĂŶĐĞ͕ ďƵƚ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ŵĂǇ ƉƵƌĐŚĂƐĞ ƐƵĐŚ ŝŶƐƵƌĂŶĐĞ ŝĨ ĂƵƚŚŽƌŝǌĞĚ ĂŶĚ ĂƉƉƌŽǀĞĚ ďǇ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ͘ dŽ ƚŚĞ ĞǆƚĞŶƚ ƉĞƌŵŝƚƚĞĚ ďǇ ůĂǁ͕ ƐƵĐŚ ŝŶƐƵƌĂŶĐĞ ŵĂǇ ŝŶƐƵƌĞ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ĨŽƌ ĂŶǇ ŽďůŝŐĂƚŝŽŶ ŝƚ ŝŶĐƵƌƐ ĂƐ Ă ƌĞƐƵůƚ ŽĨ ƚŚŝƐ ƌƚŝĐůĞ s// Žƌ ŽƉĞƌĂƚŝŽŶ ŽĨ ůĂǁ ĂŶĚ ŝƚ ŵĂǇ ŝŶƐƵƌĞ ĚŝƌĞĐƚůǇ ƚŚĞ dƌƵƐƚĞĞƐ͕ ŽĨĨŝĐĞƌƐ͕ ĞŵƉůŽǇĞĞƐ Žƌ ǀŽůƵŶƚĞĞƌƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ĨŽƌ ůŝĂďŝůŝƚŝĞƐ ĂŐĂŝŶƐƚ ǁŚŝĐŚ ƚŚĞǇ ĂƌĞ ŶŽƚ ĞŶƚŝƚůĞĚ ƚŽ ŝŶĚĞŵŶŝĨŝĐĂƚŝŽŶ ƵŶĚĞƌ ƚŚŝƐ ƌƚŝĐůĞ s// ĂƐ ǁĞůů ĂƐ ĨŽƌ ůŝĂďŝůŝƚŝĞƐ ĂŐĂŝŶƐƚ ǁŚŝĐŚ ƚŚĞǇ ĂƌĞ ĞŶƚŝƚůĞĚ Žƌ ƉĞƌŵŝƚƚĞĚ ƚŽ ďĞ ŝŶĚĞŵŶŝĨŝĞĚ ďǇ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͘ ^ĞĐƚŝŽŶ ϳ͘ϴ

EŽŶĞǆĐůƵƐŝǀĞ ZŝŐŚƚƐ͘ dŚĞ ƉƌŽǀŝƐŝŽŶƐ ŽĨ ƚŚŝƐ ƌƚŝĐůĞ s// ƐŚĂůů ŶŽƚ ůŝŵŝƚ Žƌ

ĞǆĐůƵĚĞ ĂŶǇ ŽƚŚĞƌ ƌŝŐŚƚƐ ƚŽ ǁŚŝĐŚ ĂŶǇ ƉĞƌƐŽŶ ŵĂǇ ďĞ ĞŶƚŝƚůĞĚ ƵŶĚĞƌ ůĂǁ Žƌ ĐŽŶƚƌĂĐƚ͘ dŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŝƐ ĂƵƚŚŽƌŝǌĞĚ ƚŽ ĞŶƚĞƌ ŝŶƚŽ ĂŐƌĞĞŵĞŶƚƐ ŽŶ ďĞŚĂůĨ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ǁŝƚŚ ĂŶǇ dƌƵƐƚĞĞ͕ ŽĨĨŝĐĞƌ͕ ĞŵƉůŽǇĞĞ Žƌ ǀŽůƵŶƚĞĞƌ ƉƌŽǀŝĚŝŶŐ ƚŚĞŵ ƌŝŐŚƚƐ ƚŽ ŝŶĚĞŵŶŝĨŝĐĂƚŝŽŶ Žƌ ĂĚǀĂŶĐĞŵĞŶƚ ŽĨ ĞǆƉĞŶƐĞƐ ŝŶ ĐŽŶŶĞĐƚŝŽŶ ǁŝƚŚ ƉŽƚĞŶƚŝĂů ŝŶĚĞŵŶŝĨŝĐĂƚŝŽŶ ŝŶ ĂĚĚŝƚŝŽŶ ƚŽ ƚŚĞ ƉƌŽǀŝƐŝŽŶƐ ƚŚĞƌĞĨŽƌĞ ŝŶ ƚŚŝƐ ƌƚŝĐůĞ s//͕ ƐƵďũĞĐƚ ŝŶ Ăůů ĐĂƐĞƐ ƚŽ ƚŚĞ ůŝŵŝƚĂƚŝŽŶƐ ŽĨ ^ĞĐƚŝŽŶ ϳ͘Ϯ ŽĨ ƚŚŝƐ ƌƚŝĐůĞ s//͘ Ϭϱϵϱϳϵ͘ϬϬϬϬϬ ƵƐŝŶĞƐƐ ϭϯϬϮϴϮϱϯǀϳ

Zd/ > s/// ŽƌƉŽƌĂƚĞ &ŝŶĂŶĐĞ ^ĞĐƚŝŽŶ ϴ͘ϭ

&ŝƐĐĂů zĞĂƌ͘ dŚĞ ĨŝƐĐĂů ǇĞĂƌ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ǁŝůů ďĞ ƚŚĞ ϭϮͲŵŽŶƚŚ ƉĞƌŝŽĚ ĞŶĚŝŶŐ ŽŶ ĞĐĞŵďĞƌ ϯϭ͕ ƵŶůĞƐƐ ŽƚŚĞƌǁŝƐĞ ĚĞƚĞƌŵŝŶĞĚ ďǇ ƚŚĞ ŽĂƌĚ͘

^ĞĐƚŝŽŶ ϴ͘Ϯ

>ŽĂŶƐ ƚŽ ŝƌĞĐƚŽƌƐ ĂŶĚ KĨĨŝĐĞƌƐ͘ EŽ ůŽĂŶƐ ǁŝůů ďĞ ŵĂĚĞ ďǇ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ƚŽ ŝƚƐ ŝƌĞĐƚŽƌƐ Žƌ KĨĨŝĐĞƌƐ͘

^ĞĐƚŝŽŶ ϴ͘ϯ

'ŝĨƚƐ͘ ^ƵďũĞĐƚ ƚŽ ƚŚĞ ƉƌŝŽƌ ĂƉƉƌŽǀĂů ŽĨ ƚŚĞ ŽĂƌĚ͕ ƚŚĞ ŽĂƌĚ͕ ƚŚĞ ǆĞĐƵƚŝǀĞ ŽŵŵŝƚƚĞĞ Žƌ ĂŶǇ ĂƵƚŚŽƌŝǌĞĚ KĨĨŝĐĞƌ͕ ĞŵƉůŽǇĞĞ Žƌ ĂŐĞŶƚ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ŵĂǇ ĂĐĐĞƉƚ ŽŶ ďĞŚĂůĨ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ĂŶǇ ĐŽŶƚƌŝďƵƚŝŽŶ͕ ŐŝĨƚ͕ ďĞƋƵĞƐƚ Žƌ ĚĞǀŝƐĞ ĨŽƌ ĂŶǇ ŐĞŶĞƌĂů Žƌ ƐƉĞĐŝĂů ƉƵƌƉŽƐĞ Žƌ ƉƵƌƉŽƐĞƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͘

^ĞĐƚŝŽŶ ϴ͘ϰ /ŶĐŽŵĞ ĨƌŽŵ ŽƌƉŽƌĂƚĞ ĐƚŝǀŝƚŝĞƐ͘ ůů ŝŶĐŽŵĞ ĨƌŽŵ ĂĐƚŝǀŝƚŝĞƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ǁŝůů ďĞ ĂƉƉůŝĞĚ ƚŽ ƚŚĞ ŵĂŝŶƚĞŶĂŶĐĞ͕ ĞǆƉĂŶƐŝŽŶ Žƌ ŽƉĞƌĂƚŝŽŶ ŽĨ ƚŚĞ ůĂǁĨƵů ĂĐƚŝǀŝƚŝĞƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͘

^ĞĐƚŝŽŶ ϴ͘ϱ ŶŶƵĂů ZĞƉŽƌƚ͘ ƚ ƚŚĞ ĂŶŶƵĂů ŵĞĞƚŝŶŐ ŽĨ ƚŚĞ ŽĂƌĚ͕ ƚŚĞ ŚĂŝƌ ĂŶĚ dƌĞĂƐƵƌĞƌ ǁŝůů ƉƌĞƐĞŶƚ ƚŽ ƚŚĞ ŽĂƌĚ Ă ƌĞƉŽƌƚ͕ ǀĞƌŝĨŝĞĚ ďǇ ƚŚĞ ŚĂŝƌ ĂŶĚ dƌĞĂƐƵƌĞƌ͕ ƐŚŽǁŝŶŐ ŝŶ ĂƉƉƌŽƉƌŝĂƚĞ ĚĞƚĂŝů ƚŚĞ ĨŽůůŽǁŝŶŐ͗ ;ĂͿ

ƚŚĞ ĂƐƐĞƚƐ ĂŶĚ ůŝĂďŝůŝƚŝĞƐ͕ ŝŶĐůƵĚŝŶŐ ƚŚĞ ƚƌƵƐƚ ĨƵŶĚƐ͕ ŽĨ ƚŚĞ ĐŽƌƉŽƌĂƚŝŽŶ ĂƐ ŽĨ ƚŚĞ ĞŶĚ ŽĨ Ă ϭϮͲŵŽŶƚŚ ĨŝƐĐĂů ƉĞƌŝŽĚ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ƚĞƌŵŝŶĂƚŝŶŐ ŶŽƚ ŵŽƌĞ ƚŚĂŶ Ɛŝǆ ŵŽŶƚŚƐ ƉƌŝŽƌ ƚŽ ƐĂŝĚ ŵĞĞƚŝŶŐ͖

;ďͿ

ƚŚĞ ƉƌŝŶĐŝƉĂů ĐŚĂŶŐĞƐ ŝŶ ĂƐƐĞƚƐ ĂŶĚ ůŝĂďŝůŝƚŝĞƐ͕ ŝŶĐůƵĚŝŶŐ ƚƌƵƐƚ ĨƵŶĚƐ͕ ĚƵƌŝŶŐ ƐĂŝĚ ĨŝƐĐĂů ƉĞƌŝŽĚ͖

;ĐͿ

ƚŚĞ ƌĞǀĞŶƵĞ Žƌ ƌĞĐĞŝƉƚƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͕ ďŽƚŚ ƵŶƌĞƐƚƌŝĐƚĞĚ ĂŶĚ ƌĞƐƚƌŝĐƚĞĚ ƚŽ ƉĂƌƚŝĐƵůĂƌ ƉƵƌƉŽƐĞƐ͕ ĚƵƌŝŶŐ ƐĂŝĚ ĨŝƐĐĂů ƉĞƌŝŽĚ͖ ĂŶĚ

;ĚͿ

ƚŚĞ ĞǆƉĞŶƐĞƐ Žƌ ĚŝƐďƵƌƐĞŵĞŶƚƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͕ ĨŽƌ ďŽƚŚ ŐĞŶĞƌĂů ĂŶĚ ƌĞƐƚƌŝĐƚĞĚ ƉƵƌƉŽƐĞƐ͕ ĚƵƌŝŶŐ ƐĂŝĚ ĨŝƐĐĂů ƉĞƌŝŽĚ͘

Ϭϱϵϱϳϵ͘ϬϬϬϬϬ ƵƐŝŶĞƐƐ ϭϯϬϮϴϮϱϯǀϳ

^ƵĐŚ ƌĞƉŽƌƚ ǁŝůů ďĞ ĨŝůĞĚ ǁŝƚŚ ƚŚĞ ŵŝŶƵƚĞƐ ŽĨ ƚŚĞ ĂŶŶƵĂů ŵĞĞƚŝŶŐ ŽĨ ƚŚĞ ŽĂƌĚ͘ ^ĞĐƚŝŽŶ ϴ͘ϲ

ƵĚŝƚ͘ dŚĞ ďŽŽŬƐ ĂŶĚ ĨŝŶĂŶĐŝĂů ƌĞĐŽƌĚƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ ǁŝůů ďĞ ĂƵĚŝƚĞĚ Ăƚ ůĞĂƐƚ ĂŶŶƵĂůůǇ ďǇ Ă ĐĞƌƚŝĨŝĞĚ ƉƵďůŝĐ ĂĐĐŽƵŶƚĂŶƚ Žƌ Ĩŝƌŵ ŽĨ ĐĞƌƚŝĨŝĞĚ ƉƵďůŝĐ ĂĐĐŽƵŶƚĂŶƚƐ ƐĞůĞĐƚĞĚ ĨŽƌ ƚŚĂƚ ƉƵƌƉŽƐĞ ďǇ ƚŚĞ ŽĂƌĚ͘

Zd/ > /y ŵĞŶĚŵĞŶƚ ^ĞĐƚŝŽŶ ϵ͘ϭ

dŚĞ ĞƌƚŝĨŝĐĂƚĞ ŽĨ /ŶĐŽƌƉŽƌĂƚŝŽŶ ĂŶĚ ƚŚĞƐĞ ǇͲůĂǁƐ ŵĂǇ ďĞ ĂůƚĞƌĞĚ͕ ĂŵĞŶĚĞĚ͕ ƌĞƉĞĂůĞĚ Žƌ ĂĚĚĞĚ ƚŽ ŽŶůǇ ƵƉŽŶ ĂƉƉƌŽǀĂů ŽĨ ƚŚĞ dƌƵƐƚĞĞƐ ĂƐ ƉƌŽǀŝĚĞĚ ŚĞƌĞŝŶ Ăƚ Ă ŵĞĞƚŝŶŐ ŽĨ ƚŚĞ dƌƵƐƚĞĞƐ ŽĨ ƚŚĞ ŽƌƉŽƌĂƚŝŽŶ͕ ŶŽƚŝĐĞ ŽĨ ǁŚŝĐŚ ƐŚĂůů ŚĂǀĞ ŝŶĐůƵĚĞĚ ƐƉĞĐŝĨŝĐĂƚŝŽŶƐ ŽĨ ƚŚĞ ƉƌŽƉŽƐĞĚ ĂĐƚŝŽŶ͘ ƉƉƌŽǀĂů ƐŚĂůů ďĞ ďǇ ƚŚĞ ĂĨĨŝƌŵĂƚŝǀĞ ǀŽƚĞ ŽĨ ĞŝŐŚƚǇ ƉĞƌĐĞŶƚ ;ϴϬйͿ ŽĨ ƚŚĞ ĞŶƚŝƌĞ ŽĂƌĚ͘

Ϭϱϵϱϳϵ͘ϬϬϬϬϬ ƵƐŝŶĞƐƐ ϭϯϬϮϴϮϱϯǀϳ

^ĞĐƚŝŽŶ ϰ͘ϭ

ZK> ^ E Z ^WKE^/ />/d ^ K& d, K Z K& dZh^d ^

dŚĞ ŽĂƌĚ ŽĨ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ĨŽƌ tĞƐƚĞƌŶ Θ ĞŶƚƌĂů EĞǁ zŽƌŬ ;,&t EzͿ ŝƐ ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ŽǀĞƌƐĞĞŝŶŐ Ăůů ĂƐƉĞĐƚƐ ŽĨ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͘ /Ŷ ĚŽŝŶŐ ƐŽ͕ ƚŚĞ ŽĂƌĚ ƌĞƉƌĞƐĞŶƚƐ ƚŚĞ ŝŶƚĞƌĞƐƚƐ ŽĨ ƚŚĞ ǀĂƌŝŽƵƐ ƐƚĂŬĞŚŽůĚĞƌƐ ŝŶ ƚŚĞ ĐŽŵŵƵŶŝƚŝĞƐ ŝƚ ƐĞƌǀĞƐ͘ tĞ ĚĞĨŝŶĞ ƚŚŽƐĞ ƐƚĂŬĞŚŽůĚĞƌƐ Žƌ ŝŶƚĞƌĞƐƚĞĚ ƉĂƌƚŝĞƐ ĂƐ͗ x

dŚĞ ƉĞŽƉůĞ ůŝǀŝŶŐ ŝŶ ĂŶĚ ŵĂŬŝŶŐ ƵƉ ƚŚĞ ĐŽŵŵƵŶŝƚŝĞƐ ƐĞƌǀĞĚ ŽǀĞƌ ƚŚĞ ǇĞĂƌƐ ďǇ hŶŝǀĞƌĂ ĐŽŵƉŽŶĞŶƚƐ ĂŶĚ ĂŶƚĞĐĞĚĞŶƚƐ͘

dŚŽƐĞ ƉĞŽƉůĞ ǁŚŽ ĂƌĞ ƵŶŝŶƐƵƌĞĚ ĂŶĚ ŝŶ ŐƌĞĂƚĞƐƚ ŶĞĞĚ ŽĨ ŚĞĂůƚŚ ƌĞůĂƚĞĚ ƐĞƌǀŝĐĞƐ ŝŶ ƚŚĞƐĞ ĐŽŵŵƵŶŝƚŝĞƐ͘

tĞ ǀŝĞǁ ŽƵƌ ƌĞƐƉŽŶƐŝďŝůŝƚǇ ƚŽ ƚŚĞƐĞ ƉĞŽƉůĞ ĂŶĚ ĐŽŵŵƵŶŝƚŝĞƐ ĂƐ Ă ƐŽĐŝĂů ĐŽŶƚƌĂĐƚ ĂŶĚ ŚŽůĚ ŽƵƌƐĞůǀĞƐ ĂĐĐŽƵŶƚĂďůĞ ĨŽƌ ŝŶƐƵƌŝŶŐ ƚŚĂƚ ĐŽŵŵƵŶŝƚǇ ƉƌĞƐĞŶĐĞ ŝƐ ĂĚĞƋƵĂƚĞůǇ ĂŶĚ ĞƋƵŝƚĂďůǇ ƌĞƉƌĞƐĞŶƚĞĚ ŝŶ ŽƵƌ ǁŽƌŬ͘ dŚŝƐ ŝƐ ƌĞĨůĞĐƚĞĚ ŝŶ ƚŚĞ ƋƵĂůŝĨŝĐĂƚŝŽŶƐ ĨŽƌ ŽĂƌĚ ŵĞŵďĞƌƐŚŝƉ͕ ƚŚĞ ƐĞůĞĐƚŝŽŶ ŽĨ ƐƚƌĂƚĞŐŝĐ ƉƌŽŐƌĂŵ ƉƌŝŽƌŝƚŝĞƐ͕ ĂŶĚ ŝŶ ƉĞƌĨŽƌŵĂŶĐĞ ĞǀĂůƵĂƚŝŽŶ͘ dŚĞ ŽĂƌĚƐ͛ ƌŽůĞ ĂŶĚ ƌĞƐƉŽŶƐŝďŝůŝƚŝĞƐ ŝŶĐůƵĚĞ ƚŚĞ ĨŽůůŽǁŝŶŐ͗ ϭ͘

dŽ ƐĞƚ ŽƌŐĂŶŝǌĂƚŝŽŶĂů ĚŝƌĞĐƚŝŽŶ dŚĞ ŽĂƌĚ ŵƵƐƚ ďĞ ƚŚĞ ŐƵĂƌĚŝĂŶ ŽĨ ƚŚĞ ǀŝƐŝŽŶ ĨŽƌ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͘ dŚŝƐ ŝŶĐůƵĚĞƐ ĚĞǀĞůŽƉŵĞŶƚ ĂŶĚ ƌĞŐƵůĂƌ ƌĞŝŶĨŽƌĐĞŵĞŶƚ ŽĨ Ă ŵŝƐƐŝŽŶ͕ ǀŝƐŝŽŶ͕ ŐŽĂůƐ͕ ƉƌŝŶĐŝƉůĞƐ ĂŶĚ ŽďũĞĐƚŝǀĞƐ͘ dŚĞ ŽĂƌĚ ŝƐ ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ĂĚŽƉƚŝŶŐ Ă ƐƚƌĂƚĞŐŝĐ ƉůĂŶ͕ ǁŝƚŚ ŐƵŝĚĞƉŽƐƚƐ ĂŶĚ ŵĞĂƐƵƌĂďůĞ ŽƵƚĐŽŵĞƐ ĐŽŶƐŝƐƚĞŶƚ ǁŝƚŚ ƚŚĞ ŵŝƐƐŝŽŶ ĂŶĚ ǀŝƐŝŽŶ͕ ƌĞǀŝĞǁĞĚ ĂŶĚ ƵƉĚĂƚĞĚ Žƌ ƌĞǀŝƐĞĚ ŽŶ Ă ƌĞŐƵůĂƌ ďĂƐŝƐ͘

Ϯ͘

dŽ ĐůĞĂƌůǇ ĚĞĨŝŶĞ ĞǆƉĞĐƚĂƚŝŽŶƐ ŽĨ ŵĂŶĂŐĞŵĞŶƚ dŚĞ ŽĂƌĚ ĚĞƚĞƌŵŝŶĞƐ ƚŚĞ ͞ĞŶĚƐ͟ Žƌ ƌĞƐƵůƚƐ ƚŽ ďĞ ĂĐŚŝĞǀĞĚ͕ ĚĞĨŝŶĞƐ ƚŚĞ ƌŽůĞ ŽĨ ƚŚĞ WƌĞƐŝĚĞŶƚ ĂŶĚ ƐĞůĞĐƚƐ ƚŚĞ ĂƉƉƌŽƉƌŝĂƚĞ ĐĂŶĚŝĚĂƚĞ͘ dŚĞ ŽĂƌĚ ĐŚĂƌŐĞƐ ƚŚĞ WƌĞƐŝĚĞŶƚ ǁŝƚŚ ƚŚĞ ƌĞƐƉŽŶƐŝďŝůŝƚǇ ĨŽƌ ĂĐŚŝĞǀŝŶŐ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ŐŽĂůƐ ĂŶĚ ŽďũĞĐƚŝǀĞƐ͕ ǁŽƌŬŝŶŐ ǁŝƚŚŝŶ ƚŚĞ ŐƵŝĚĞůŝŶĞƐ ĂŶĚ ďŽƵŶĚĂƌŝĞƐ ĞƐƚĂďůŝƐŚĞĚ ďǇ ƚŚĞ ďŽĂƌĚ͘ dŚĞ ŽĂƌĚ ŝƐ ĂůƐŽ ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ĞǀĂůƵĂƚŝŶŐ ƚŚĞ ĞǆĞĐƵƚŝǀĞ͛Ɛ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ Ă ƌĞŐƵůĂƌ ďĂƐŝƐ͘

ϯ͘

dŽ ĞŶƐƵƌĞ ĂĚĞƋƵĂƚĞ ĨƵŶĚŝŶŐ ĂŶĚ ĨŝŶĂŶĐŝĂů ŽǀĞƌƐŝŐŚƚ dŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŝƐ ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ƚŚĞ ƐƚĞǁĂƌĚƐŚŝƉ ŽĨ ƚŚĞ ĨƵŶĚ͕ ĞŶƐƵƌŝŶŐ ƚŚĂƚ ƚŚĞƌĞ ĂƌĞ ĂĚĞƋƵĂƚĞ ďƵĚŐĞƚĂƌǇ ĂŶĚ ŝŶǀĞƐƚŵĞŶƚ ŐƵŝĚĞůŝŶĞƐ ĨŽƌ ƚŚĞ ďŽĂƌĚ ĂŶĚ ƐƚĂĨĨ ƚŽ ĨŽůůŽǁ͘ ĞǇŽŶĚ ŝŶǀĞƐƚŵĞŶƚ ŵĂŶĂŐĞŵĞŶƚ ŐƵŝĚĂŶĐĞ ĂŶĚ ƐƵƉĞƌǀŝƐŝŽŶ ĂŶĚ ĂŶŶƵĂů ďƵĚŐĞƚ ƌĞǀŝĞǁ ĂŶĚ ĂƉƉƌŽǀĂů͕ ĨŝƐĐĂů ŵĂŶĂŐĞŵĞŶƚ ƉŽůŝĐŝĞƐ ŐĞŶĞƌĂůůǇ ƌĞĨůĞĐƚ ƚŚĞ ŵŝƐƐŝŽŶ ĂŶĚ ǀĂůƵĞƐ ŽĨ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͘

,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ĨŽƌ tĞƐƚĞƌŶ Θ ĞŶƚƌĂů EĞǁ zŽƌŬ

^ĞĐƚŝŽŶ ϰ͘ϭ

ƐƐĞƚ ŵĂŶĂŐĞŵĞŶƚ ŝŶĐůƵĚĞƐ ƚŚƌĞĞ ŵĂũŽƌ ĨƵŶĐƚŝŽŶƐ͗ ĨŝŶĂŶĐĞ͕ ŝŶǀĞƐƚŵĞŶƚ͕ ĂŶĚ ĂƵĚŝƚ͘ ƵĚŝƚ ĂŶĚ /ŶǀĞƐƚŵĞŶƚ ĨƵŶĐƚŝŽŶƐ ĂƌĞ ƉƌŝŵĂƌŝůǇ ĚŽŶĞ ďǇ ŽƵƚƐŝĚĞ ĐŽŶƚƌĂĐƚŽƌƐ͘ &ŝŶĂŶĐĞ ŚĂƐ ƚǁŽ ĂƐƉĞĐƚƐ͗ ƚŚĞ ĂĚŵŝŶŝƐƚƌĂƚŝǀĞ ďƵĚŐĞƚ ĂŶĚ ƚŚĞ ŐƌĂŶƚͲŵĂŬŝŶŐ ďƵĚŐĞƚ͕ ƚŚĞ ĂŵŽƵŶƚƐ ŽĨ ǁŚŝĐŚ ĂƌĞ ĚĞƚĞƌŵŝŶĞĚ ďǇ ƚŚĞ ŽĂƌĚ͘ dŚĞ WƌĞƐŝĚĞŶƚ ŝƐ ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ĚĞǀĞůŽƉŝŶŐ ƚŚĞ ĂĐƚƵĂů ďƵĚŐĞƚ ĨŽƌ ƚŚĞ ŽĂƌĚ ƚŽ ĂƉƉƌŽǀĞ Žƌ͕ ŝĨ ŶĞĞĚĞĚ͕ ŵŽĚŝĨǇ͘ ϰ͘

dŽ ĂƐƐƵƌĞ ƉƌĞƐĞŶĐĞ ĂŶĚ ǀŽŝĐĞ ŽĨ ƚŚĞ ƐƚĂŬĞŚŽůĚĞƌƐ dŚĞ ŽĂƌĚ ŝƐ ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ŵĂŝŶƚĂŝŶŝŶŐ ĂŶ ĂĚĞƋƵĂƚĞ ĂŶĚ ƵƉͲƚŽͲĚĂƚĞ ƵŶĚĞƌƐƚĂŶĚŝŶŐ ŽĨ ĐŽŵŵƵŶŝƚǇ ŚĞĂůƚŚ ŶĞĞĚƐ ĂŶĚ ƉƌŝŽƌŝƚŝĞƐ͘ dŚŝƐ ǁŝůů ďĞ ƌĞĨůĞĐƚĞĚ ŝŶ ƚŚĞ ĂƉƉƌŽĂĐŚ ƚŽ ŽĂƌĚ ĚĞǀĞůŽƉŵĞŶƚ͕ ƚŚĞ ƉƌŽĨŝůĞ ŽĨ ŽĂƌĚ ŵĞŵďĞƌƐŚŝƉ͕ ĂŶĚ ŝŶ ďŽƚŚ ƚŚĞ ƐĞůĞĐƚŝŽŶ ƉƌŽĐĞƐƐ ĂŶĚ ƚŚĞ ŽƵƚĐŽŵĞ ŽĨ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ƐƚƌĂƚĞŐŝĐ ĨŽĐƵƐ͘

ϱ͘

dŽ ĂƐƐƵƌĞ ƋƵĂůŝƚǇ ŝŶ ŐŽǀĞƌŶĂŶĐĞ dŚĞ ŽĂƌĚ ǁŝůů ŵĞĞƚ Ă ŵŝŶŝŵƵŵ ŽĨ ĨŽƵƌ ƚŝŵĞƐ Ă ǇĞĂƌ͕ Žƌ ĂƐ ĨƌĞƋƵĞŶƚůǇ ĂƐ ŝƐ ŶĞĞĚĞĚ ƚŽ ĨƵůůǇ ĐŽŶĚƵĐƚ ƚŚĞ ďƵƐŝŶĞƐƐ ŽĨ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͘ ŽĂƌĚ ŵĞŵďĞƌƐ ĂƌĞ ĂůƐŽ ĞǆƉĞĐƚĞĚ ƚŽ ĂƚƚĞŶĚ ƌĞŐƵůĂƌ ĂŶĚͬŽƌ ĂĚ ŚŽĐ ĐŽŵŵŝƚƚĞĞ ŵĞĞƚŝŶŐƐ ĂŶĚ ƚŽ ďĞ ĂǀĂŝůĂďůĞ ĨŽƌ ĐŽŶƐƵůƚĂƚŝŽŶ ďǇ ƉŚŽŶĞ͕ ĞͲŵĂŝů ĂŶĚ ǁƌŝƚƚĞŶ ĐŽƌƌĞƐƉŽŶĚĞŶĐĞ͘ tƌŝƚƚĞŶ ŵŝŶƵƚĞƐ ŽĨ Ăůů ďŽĂƌĚ ĂŶĚ ďŽĂƌĚͲ ƐĂŶĐƚŝŽŶĞĚ ĐŽŵŵŝƚƚĞĞ ŵĞĞƚŝŶŐƐ ǁŝůů ďĞ ĂǀĂŝůĂďůĞ ƚŽ ďŽĂƌĚ ŵĞŵďĞƌƐ͘ dŚĞ ŽĂƌĚ ŝƐ ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ŝƚƐ ŽǁŶ ŽƉĞƌĂƚŝŽŶƐ ĂŶĚ ĞĨĨĞĐƚŝǀĞŶĞƐƐ͕ ŝŶĐůƵĚŝŶŐ ƚŚĞ ŽƌŝĞŶƚĂƚŝŽŶ͕ ĞĚƵĐĂƚŝŽŶ͕ ƚƌĂŝŶŝŶŐ ĂŶĚ ĚĞǀĞůŽƉŵĞŶƚ ŽĨ ŵĞŵďĞƌƐ͕ ĂŶŶƵĂů ĞǀĂůƵĂƚŝŽŶ ŽĨ ŝƚƐ ŽǀĞƌĂůů ƉĞƌĨŽƌŵĂŶĐĞ ĂƐ ǁĞůů ĂƐ ƐĞůĨͲĞǀĂůƵĂƚŝŽŶ ďǇ ŝŶĚŝǀŝĚƵĂů ƚƌƵƐƚĞĞƐ͘ tŚĞŶ ĂƉƉƌŽƉƌŝĂƚĞ͕ ƚŚĞǇ ǁŝůů ĂůƐŽ ƐĞůĞĐƚ ŶĞǁ ďŽĂƌĚ ŵĞŵďĞƌƐ͘

ϲ͘

dŽ ĂĚŚĞƌĞ ƚŽ ŽƉĞƌĂƚŝŶŐ ƉŽůŝĐŝĞƐ ĂŶĚ ƉƌŽĐĞĚƵƌĞƐ

ŽĂƌĚ ŵĞŵďĞƌƐ ĂƌĞ ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ĨĂŵŝůŝĂƌŝǌŝŶŐ ƚŚĞŵƐĞůǀĞƐ ǁŝƚŚ &ŽƵŶĚĂƚŝŽŶ ƉŽůŝĐŝĞƐ ĂŶĚ ƉƌŽĐĞĚƵƌĞƐ ĂŶĚ ĂĚŚĞƌŝŶŐ ƚŽ ƚŚĞŵ Ăƚ Ăůů ƚŝŵĞƐ͘ dŚĞƐĞ ƉŽůŝĐŝĞƐ ĂŶĚ ƉƌŽĐĞĚƵƌĞƐ ŐƵŝĚĞ ƚŚĞ ŽƉĞƌĂƚŝŽŶ ŽĨ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͕ ŝƚƐ ĨŝƐĐĂů ŵĂŶĂŐĞŵĞŶƚ ĂŶĚ ƚŚĞ ƌĞƐƉĞĐƚŝǀĞ ƌŽůĞƐ ŽĨ ƐƚĂĨĨ ĂŶĚ ƚƌƵƐƚĞĞƐ͘ ϳ͘

dŽ ǁŽƌŬ ĂƐ Ă ƚĞĂŵ ĂŶĚ ƐƉĞĂŬ ǁŝƚŚ ŽŶĞ ǀŽŝĐĞ dŚĞ ŽĂƌĚ ƐŚŽƵůĚ ƐƉĞĂŬ ǁŝƚŚ Ă ƐŝŶŐůĞ ǀŽŝĐĞ ƚŽ ĞƐƚĂďůŝƐŚ Ă ĐŽŚĞƐŝǀĞ ĂŶĚ ĞĨĨĞĐƚŝǀĞ &ŽƵŶĚĂƚŝŽŶ ƉƌĞƐĞŶĐĞ ǁŝƚŚŝŶ ƚŚĞ ĐŽŵŵƵŶŝƚǇ͘ tŚŝůĞ ďŽĂƌĚ ƐƚƌĞŶŐƚŚ ĐŽŵĞƐ ĨƌŽŵ ƚŚĞ ĚŝǀĞƌƐŝƚǇ ŽĨ ƉĞŽƉůĞ ĂŶĚ ǀŝĞǁƉŽŝŶƚƐ ƌĞƉƌĞƐĞŶƚĞĚ͕ ƚĞĂŵǁŽƌŬ ŝƐ ĞǆƉĞĐƚĞĚ ĨƌŽŵ ĞĂĐŚ ŵĞŵďĞƌ ŽĨ ƚŚĞ ďŽĂƌĚ ĂŶĚ ŝƐ ĞƐƐĞŶƚŝĂů ƚŽ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ĞĨĨĞĐƚŝǀĞŶĞƐƐ͘ dĞĂŵǁŽƌŬ ǁŝůů ďĞ ƉĂƌƚ ŽĨ ƚŚĞ ĞǀĂůƵĂƚŝŽŶ ƉƌŽĐĞƐƐ ŽĨ ŝŶĚŝǀŝĚƵĂů ŽĂƌĚ ŵĞŵďĞƌƐ ĂŶĚ ŽĨĨŝĐĞƌƐ͘ ĚŽƉƚĞĚ ďǇ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŽŶ ^ĞƉƚĞŵďĞƌ ϭϴ͕ ϮϬϬϮ ŶĚŽƌƐĞĚ ďǇ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŽŶ DĂǇ ϭϰ͕ ϮϬϬϱ

,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ĨŽƌ tĞƐƚĞƌŶ Θ ĞŶƚƌĂů EĞǁ zŽƌŬ

^ĞĐƚŝŽŶ ϰ͘Ϯ

dZh^d D d/E' dd E E WK>/ z

^ĞƌǀŝĐĞ ǁŝƚŚ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŽĨ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ŝƐ Ă ŵĂũŽƌ ƌĞƐƉŽŶƐŝďŝůŝƚǇ͘ dƌƵƐƚĞĞƐ ĂƌĞ ĨƵůůǇ ĂĐĐŽƵŶƚĂďůĞ ĨŽƌ ƚŚĞ ŵĂŶĂŐĞŵĞŶƚ ĂŶĚ ĂůůŽĐĂƚŝŽŶ ŽĨ ĨŽƵŶĚĂƚŝŽŶ ƌĞƐŽƵƌĐĞƐ ĂŶĚ͕ ĚŝƌĞĐƚůǇ Žƌ ŝŶĚŝƌĞĐƚůǇ͕ ĨŽƌ Ăůů ĂƐƉĞĐƚƐ ŽĨ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ƉĞƌĨŽƌŵĂŶĐĞ͘ ŽĂƌĚ ŵĞŵďĞƌƐ ŵƵƐƚ ďĞ ĂďůĞ ƚŽ ĂƚƚĞŶĚ ŵĞĞƚŝŶŐƐ ĂƐ ĚĞůŝďĞƌĂƚŝŽŶ ĂŶĚ ƉĂƌƚŝĐŝƉĂƚŝŽŶ ĂƌĞ ŝŶƚĞŐƌĂů ĞůĞŵĞŶƚƐ ŽĨ ďŽĂƌĚ ƐĞƌǀŝĐĞ͘ &Ƶůů ĂƚƚĞŶĚĂŶĐĞ ŝƐ ĂŶƚŝĐŝƉĂƚĞĚ Ăƚ Ăůů ƌĞŐƵůĂƌůǇ ƐĐŚĞĚƵůĞĚ ŵĞĞƚŝŶŐƐ ŽĨ ƚŚĞ ŽĂƌĚ ĂŶĚ ŝƚƐ ŽŵŵŝƚƚĞĞƐ͘ /ƚ ŝƐ ƚŚĞ ƌĞƐƉŽŶƐŝďŝůŝƚǇ ŽĨ ŝŶĚŝǀŝĚƵĂů dƌƵƐƚĞĞƐ ƚŽ ŝŶĨŽƌŵ ƚŚĞ ŚĂŝƌ͕ ĂƐ ĨĂƌ ŝŶ ĂĚǀĂŶĐĞ ĂƐ ƉŽƐƐŝďůĞ͕ ǁŚĞŶ ĂƚƚĞŶĚĂŶĐĞ ŝŶ ƉĞƌƐŽŶ Žƌ ĞůĞĐƚƌŽŶŝĐĂůůǇ ŝƐ ŶŽƚ ƉŽƐƐŝďůĞ͘ ǆĐĞƉƚ ŝŶ ƵŶĂǀŽŝĚĂďůĞ ĐŝƌĐƵŵƐƚĂŶĐĞƐ͕ ŝŶĂďŝůŝƚǇ ŽĨ Ă dƌƵƐƚĞĞ ƚŽ ĂƚƚĞŶĚ ƚŚƌĞĞ ĨŽƵƌƚŚƐ ;ϳϱйͿ Žƌ ŵŽƌĞ ŽĨ ŵĞĞƚŝŶŐƐ ŵĂǇ ĚŝƐƋƵĂůŝĨǇ ƚŚĂƚ dƌƵƐƚĞĞ ĨŽƌ ĂƉƉŽŝŶƚŵĞŶƚ ƌĞŶĞǁĂů͘ /ƚ ǁŝůů ďĞ ƚŚĞ ĚƵƚǇ ŽĨ ƚŚĞ ŚĂŝƌ ƚŽ ŶŽƚŝĨǇ ĂŶǇ dƌƵƐƚĞĞ ǁŚĞŶ ŚŝƐͬŚĞƌ ĂƚƚĞŶĚĂŶĐĞ ĂƉƉƌŽĂĐŚĞƐ ƚŚŝƐ ƚŚƌĞƐŚŽůĚ ƚŽ ĚŝƐĐƵƐƐ ƚŚĞ ĐŝƌĐƵŵƐƚĂŶĐĞƐ ĂŶĚ ƚŽ ƌĞƉŽƌƚ ƚŚĞ ƌĞƐƵůƚƐ ƚŽ ƚŚĞ 'ŽǀĞƌŶĂŶĐĞ ŽŵŵŝƚƚĞĞ ĨŽƌ ƉŽƐƐŝďůĞ ĂĐƚŝŽŶ͘

; ŶŽƚĞ͗ ƚ ůĞĂƐƚ ŽŶĞ ĨĞĚĞƌĂů ĚŝƐƚƌŝĐƚ ĐŽƵƌƚ ŚĂƐ ƐƚĂƚĞĚ ƚŚĂƚ ͞΀Ă΁ ĚŝƌĞĐƚŽƌ ǁŚŽ ĨĂŝůƐ ƚŽ ĂĐƋƵŝƌĞ ƚŚĞ ŝŶĨŽƌŵĂƚŝŽŶ ŶĞĐĞƐƐĂƌǇ ƚŽ ƐƵƉĞƌǀŝƐĞ ƚŚĞ ΀ĐŽŵƉĂŶǇ΁ ƉŽůŝĐǇ Žƌ ĐŽŶƐŝƐƚĞŶƚůǇ ĨĂŝůƐ ĞǀĞŶ ƚŽ ĂƚƚĞŶĚ ŵĞĞƚŝŶŐƐ Ăƚ ǁŚŝĐŚ ƐƵĐŚ ƉŽůŝĐŝĞƐ ĂƌĞ ĐŽŶƐŝĚĞƌĞĚ ŚĂƐ ǀŝŽůĂƚĞĚ ŚŝƐ ĨŝĚƵĐŝĂƌǇ ĚƵƚǇ ƚŽ ƚŚĞ ĐŽƌƉŽƌĂƚŝŽŶ͘͟Ϳ

ĚŽƉƚĞĚ ďǇ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŽŶ :ĂŶƵĂƌǇ ϭϵ͕ ϮϬϬϱ

,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ĨŽƌ tĞƐƚĞƌŶ Θ ĞŶƚƌĂů EĞǁ zŽƌŬ

^ĞĐƚŝŽŶ ϰ͘ϯ

dZh^d KDW E^ d/KE WK>/ z WŽůŝĐǇ͗ dƌƵƐƚĞĞƐ ƐŚĂůů ƐĞƌǀĞ ǁŝƚŚŽƵƚ ĐŽŵƉĞŶƐĂƚŝŽŶ ŽƚŚĞƌ ƚŚĂŶ ƌĞŝŵďƵƌƐĞŵĞŶƚ ŽĨ ƌĞĂƐŽŶĂďůĞ ĂŶĚ ŶĞĐĞƐƐĂƌǇ ĞǆƉĞŶƐĞƐ ŝŶĐƵƌƌĞĚ ŝŶ ƚŚĞ ĐŽŶĚƵĐƚ ŽĨ ƌĞŐƵůĂƌ Žƌ ŽƚŚĞƌǁŝƐĞ ĚĞƐŝŐŶĂƚĞĚ ŽĂƌĚ ĂĐƚŝǀŝƚŝĞƐ͘ dŚŝƐ ƉŽůŝĐǇ ŵĂǇ ďĞ ƌĞǀŝĞǁĞĚ ĨƌŽŵ ƚŝŵĞ ƚŽ ƚŝŵĞ Ăƚ ƚŚĞ ƌĞƋƵĞƐƚ ŽĨ Ă ŵĂũŽƌŝƚǇ ŽĨ dƌƵƐƚĞĞƐ͘ dŚŝƐ ƉŽůŝĐǇ ŝƐ ďĂƐĞĚ ŽŶ ƌĞƐĞĂƌĐŚ ŝŶĚŝĐĂƚŝŶŐ ƚŚĂƚ ŽĂƌĚ ĐŽŵƉĞŶƐĂƚŝŽŶ ĨŽƌ ƐŝŵŝůĂƌ ĨŽƵŶĚĂƚŝŽŶƐ ŝƐ ƵŶƵƐƵĂů ŝĨ ŶŽƚ ƌĂƌĞ͘ /ŶĨŽƌŵĂƚŝŽŶ ǁĂƐ ŐĂƚŚĞƌĞĚ ĨƌŽŵ ƚŚĞ 'ƌĂŶƚŵĂŬĞƌƐ ŝŶ ,ĞĂůƚŚ ;'/,Ϳ ĂŶĚ ƚŚĞ ŽƵŶĐŝů ŽŶ &ŽƵŶĚĂƚŝŽŶƐ͘ &ŽƵŶĚĂƚŝŽŶ ƐƚĂĨĨ ŚĂƐ ĂĚĚŝƚŝŽŶĂů ďĂĐŬŐƌŽƵŶĚ ŽŶ ƚŚŝƐ ƚŽƉŝĐ ĂŶĚ ƚŚĞ ƌĞƐĞĂƌĐŚ ǁŚŝĐŚ ůĞĚ ƚŽ ƚŚĞ ĚĞǀĞůŽƉŵĞŶƚ ŽĨ ƚŚĞ ƉŽůŝĐǇ͘ ĚŽƉƚĞĚ ďǇ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŽŶ ĞĐĞŵďĞƌ Ϯϭ͕ ϮϬϬϭ ŶĚŽƌƐĞĚ ďǇ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŽŶ DĂǇ ϭϰ͕ ϮϬϬϱ

,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ĨŽƌ tĞƐƚĞƌŶ Θ ĞŶƚƌĂů EĞǁ zŽƌŬ

Section 4.4

TRUSTEE RECRUITMENT AND NOMINATION POLICY

Background Effective Foundation governance depends on the efforts of a committed, knowledgeable and diverse Board of Directors. Board development must be a thoughtful, deliberate and long-term process for the continual identification and selection of new trustee candidates. A.

Objectives 1. To “speak with one voice” on the recruitment, nomination and the appointment of individual trustees. 2. To target specific strengths and capabilities that the Foundation requires for long-term success. 3. To maximize the number of trustees whose interests are closely connected with the Foundation’s mission and who actively contribute to the work of foundation governance. 4. To identify potential new trustees as an ongoing, year round process (rather than a once-a-year rush to fill vacancies). 5. To assure that the expectations of candidates for nomination are explicit and have been thoroughly explored before appointments are made. 6. To consider the use of committee appointments for potential trustee candidates as a board development mechanism when and where appropriate. 7. To include in the nomination process, while not being limited by, the personal recommendations of current board members.

Health Foundation for Western & Central New York

Section 3.4

The Process

1. What to look for: 1.1 Develop and maintain a profile of the ‘ideal’ board (demographics, expertise, availability, way of working, board members’ motivations/contributions, contacts/networks, regional representation, no conflicts of interest etc.) 1.2 Periodically review this profile with important ‘stakeholders’ 1.3 Periodically assess the current board against this template 1.4 Identify ‘gaps’ and priorities for recruitment 2. How to recruit: 2.1 Set up a databank of potential board members – this avoids the potential problem of invitation/rejection 2.2 Invite people who are interested in becoming board members to submit an ‘application’ (preferably by completing a standard form) – with the understanding that they will be added to the databank 2.3 When openings occur, use the databank to identify potential trustees and potential committee members/advisors. Criteria will include: i. the extent to which the individual contributes to the ‘ideal’ board profile ii. advocacy by a current board member iii. other references 2.4 Chair and designated board representatives interview potential nominees to ensure that mutual expectations are clear and appropriate 2.5 Board and members agree on recommended additions to the board/’farm system’ 2.6 ‘Offer’ made to the individual 2.7 Orientation program conducted (some elements common, some tailored to the individual and their potential contribution) 3. Whom to recruit 3.1 Recommendations from current trustees 3.2 Recommendations from other important stakeholders such as community leaders and anticipated collaborators. 3.3 Candidates identified by ‘search’ (for specific expertise)

Adopted by the Board of Trustees on January 22, 2003 Endorsed by the Board of Trustees on May 14, 2005

Health Foundation for Western & Central New York

Section 4.5

EXPENSE REIMBURSEMENT POLICY Travel expenses of board members, staff and others as may be specified from time to time may be paid or reimbursed for attending meetings or in the conduct of approved Foundation business or other functions. The Foundation Expense Statement is to be used for requesting reimbursement and should be submitted each month. Explain in full all unusual items or amounts. Receipts are required for all expenditures including credit card charges, airfare purchased and applicable hotel charges. Receipts are required for any expenditure paid by the traveler that exceeds $25.00. Allow at least two (2) weeks after receipt at the Foundation for reimbursement, which will be by check. Policies: 1. Reimbursement is allowed for reasonable, ordinary and necessary expenses incurred in connection with approved expenses or travel on behalf of the Foundation. 2. The Foundation will reimburse members traveling on official business the cost of the roundtrip coach class airfare, actual housing cost and meals. Guest travel, housing and meals are not generally reimbursable. 3. The Foundation’s travel mileage reimbursement shall be the current IRS reimbursement amount. Reimbursable Expenses: Transportation: a) Airfare: The least expensive commercial airfare in coach class will be reimbursable from the airport nearest the traveler’s home or office to the airport nearest the destination. Mileage earned and compensation for denied boarding awarded to the traveler while on Foundation business is the property of the traveler and may be used at the traveler’s discretion. b) Automobile, Train or Bus: Total reimbursable expenses including expenses incurred enroute shall not exceed the cost of airfare. Automobile expenses shall be reimbursed the then current IRS mileage rate. Shuttle, taxi, personal automobile, or other similar-cost means to and from the airport at the point of origin and destination. Taxi fare if essential for business purposes. Parking at the airport of origin, if personal automobile is used. Parking at the meeting site if travel by automobile is required.

Health Foundation for Western & Central New York

Section 4.5

c) Lodging: Lodging at the single-room rate for days of meetings, including night before and night after, if flight schedules make necessary such stays. d) Meals: The reasonable cost of meals while attending meetings and while in transit to and from the meeting site. If, in addition, meals are purchased for others, the individual must be identified as one for whom the Foundation has responsibility for such expenses. e) Saturday Night Stay: If the airfare saving for the Saturday night stay is greater than or equal to the lodging, meals and other reimbursable expense(s) for the additional day(s) stay, the traveler has the option to stay and be reimbursed for expenses (up to the saved amount) for the additional day(s). f) Other Expenses: Reasonable telephone and fax charges due to absence of traveler from the individual’s domicile. Reasonable and necessary gratuities.

Non-Reimbursable Expenditures: First Class upgrades in airfare. When lodging accommodations have been arranged by the Foundation, and the traveler elects to stay elsewhere, reimbursement is made at an amount no higher than the rate negotiated by the Foundation, and reimbursement is not made for transportation between the alternate lodging and the meeting site. If an individual accompanies the traveler, it is the responsibility of the traveler to determine the added cost for double occupancy and related expenses and to make the appropriate adjustment in the reimbursement request. Entertainment costs, including movies, or room refreshment center expenditures. Exceptions: Exceptions to this policy may be made by the Foundation Board Chair, or designee, when judged to be fair, reasonable and of benefit to the Foundation. In such cases, the request for exception and the reasons for approval should be in written form.

Adopted by Board of Trustees on August 21, 2002 Endorsed by the Board of Trustees on May 14, 2005

Health Foundation for Western & Central New York

Section 5.1

Role Description: Committee Chair

Responsibilities/Duties: 1. Understand and clarify for all members the purposes and the expected work of the group, the staff and other resources available for the work, the end points of success and the time line to achieve them. 2. Plan, schedule and lead group/committee meetings. 3. Assure that appropriate notice of meetings, clear and adequate agenda and preparation materials are provided to members in a timely manner. 4. Assign tasks to committee members. 5. Monitor the group’s progress and communicate with staff members assigned to the committee, if any. 6. Resolve conflicts among committee members. 7. Arrange for the committee to evaluate its work regularly and at the completion of its task, to determine whether it did what it set out to do, what worked, and what didn’t. 8. Assure that adequate written records of all meetings are kept and shared in a timely manner with other members shortly after the meetings are held.

Communications: x

Serve as the liaison between the committee and the President, the Board Chair, and the entire Board of Trustees.

Ensure that appropriate written and oral reports are submitted to the Board of Directors on a timely and regular basis, and keep the Board Chair and the President informed about the committee’s progress.

Adopted by the Board of Trustees on November 20 , 2002

Health Foundation for Western & Central New York.

Section 5.2

Role Description:

Executive Committee

Executive Committee .

By resolution adopted by a majority of the entire Board of Trustees, the Board may appoint from among its Trustees an Executive Committee, consisting of the Chair, the Vice-Chair, the Secretary, the Treasurer, and one additional Trustee designated by the Board, provided that a majority of the Committee shall be residents of Western New York. If necessary to provide such a majority the Board shall designate more than one such additional Trustee from Western New York. Between meetings of the Board of Trustees, the Executive Committee may act on behalf of the Board upon any matter for which the Board of Trustees has established the policy of the Corporation or upon any matter requiring immediate action. The Executive Committee shall not take any action inconsistent with action taken by the Board. A quorum of the Executive Committee shall be a majority of the entire Committee. The Executive Committee shall keep a record of its proceedings and report the same to the Board of Trustees at the next meeting thereof.

The Executive Committee shall have all of the authority of the Board, except that no such committee shall have authority as to the following matters: 1) removal of a Trustee; 2) the filling of vacancies in the Board of Trustees or in any committee;3) the fixing of compensation of the Trustees, if any, for serving on the Board or any committee; 4) the amendment or repeal of the By-laws or the adoption of new By-laws; and 5) the amendment or repeal of any resolution of the Board which by its terms shall not be so amendable or repealable.

Each year, the Executive Committee, after consultation with the Board, shall consider and submit for approval by the Board an evaluation of the performance of the President during the past year and its recommendation for the compensation of the President for the next year.

Health Foundation for Western & Central New York

Section 5.3

Role Description:

Finance and Operations Committee

Responsibilities/Duties: 1. Oversee budget and financial management. 1.1 Review budget prepared by the President against the Foundation’s goals and board policy, and, after making any necessary changes, propose an annual operating budget for Board approval. 1.2 Review monthly expenditure reports against the budget, highlight any concerns and review correction plan as proposed by the President. 1.3 Periodically require a review the financial record-keeping process and use of outside financial and operational consultants. Initiate competitive process for those services when appropriate. 1.4 Review the investment balances and projected cash requirements to assure sufficient cash flow through the budget period to support qualified distributions and the operating budget. 2. Ensure that complete and accurate financial records are maintained. 2.1 Review and recommend financial policies to the Board of Trustees, including adequate internal controls and the maintenance of financial records in accordance with standard accounting practices. Policies to include expenditure authorization limits. 2.2 Monitor operational expenditures through regular review of monthly financials. . 2.3 Initiate the development of relevant policies to address new financial requirements for record-keeping and monitoring. 3. Oversee business operations within the Foundation 3.1 Review and recommend any long-term contracts or leases for foundation space and equipment which obligate the foundation for multiple years. 3.2 Review and recommend any appropriate changes in employee benefits and costsharing arrangements. 3.3 Ensure the Foundation maintains adequate insurance coverage. 3.4 Oversee financial and legal compliance with any Program Related Investments the Foundation may award. 4. Support the Board of Trustees in discharging its fiduciary responsibility. 4.1 When appropriate, work with Investment and Audit Committees to design and provide periodic education to the Board on financial matters. 4.2 Through Committee reports at each Board meeting, keep the Board informed about important aspects of the Foundation’s finances. Health Foundation for Western & Central New York.

Section 5.3

5. Establish a mechanism and reporting process to monitor compliance with federal, state and other requirements related to the Foundation’s finances and operations. 5.1 Periodically review the Foundation’s maintenance of adequate insurance coverage. 5.2 Periodically review that IRS Form 990, other forms and employment and other taxes required by the government are filed completely, correctly and on time. 5.3 Periodically review the Foundation’s full compliance with relevant employment laws and regulations. Frequency of Meetings: Quarterly or more often, as needed, with one meeting to be a joint meeting with the Investment Committee. Members: The Treasurer will serve as Committee Chair At least one member of the committee should also be a member of the Investment Committee and one who is also a member of the Audit Committee. Committee is to have at least three members with financial expertise.

Adopted by the Board of Trustees on March 19, 2008 Amended by the Board of Trustees on September 17, 2008 Amended by the Board of Trustees on September 16, 2009 Amended by the Board of Trustees on May 18, 2011 Amended by the Board of Trustees on March 28, 2012

Health Foundation for Western & Central New York.

Section 5.4

Role Description:

Investment Committee

Responsibilities/Duties: 1. Safeguard the Foundation’s assets through active, ongoing oversight and monitoring of Foundation’s endowment. 1.1. Ensure that the Foundation receives top quality investment advice by hiring and managing the relationship with an external advisor. Periodically review this relationship and negotiate appropriate compensation amounts and mechanisms. Seek proposals from others if appropriate. 1.2. In conjunction with the external advisor, develop and implement a portfolio investment strategy, philosophy and objectives. 1.3. Review investment performance no less than quarterly, making adjustments as necessary. 1.4. Oversee compliance with the Asset Allocation policy adopted by the Board 1.5. As appropriate, request special reports from or meet with individual fund managers representing foundation investments. 1.6. Periodically, review the overall costs to the Foundation of its investment strategy and recommend appropriate changes. 1.7. Understand the options and requirements for utilizing the Foundation’s endowment directly in advancing the Foundation’s mission. Review any such proposal for appropriateness and compliance with the Foundation’s investment guidelines and oversee implementation of any such proposal. 2. Ensure that complete and accurate investment records are maintained. 2.1. Review and implement mechanisms for tracking investments, assuring consistency of reporting and currency of information. 2.2. Select and monitor the Foundation’s custodian of record. 2.3. Track implementation of investment decisions, assuring timely and accurate execution of Committee decisions. Maintain a complete implementation log as a way to document execution. 3. Support the Board of Trustees in discharging its fiduciary responsibility. 3.1. Periodically review the statement of objectives and investment and spending guidelines recommending amendments as appropriate for approval by the board of trustees. 3.2. When appropriate, work with Finance and Operations Committee and Audit Committee to design and provide periodic education to the Board on investment matters. 3.3. Ensure that the Board is well informed about all aspects of the Foundation’s investments, e.g. through the provision and presentation of up-dates on investment performance at least quarterly and more often if circumstances dictate

Health Foundation for Western & Central New York

Section 5.4 3.4. Work closely with the Audit Committee to ensure that our investment practices and policies are consistent with the most current audit guidelines relevant to our organization 4. Ensure compliance with federal, state and other requirements related to the Foundation’s investments 4.1. Obtain and provide investment information to ensure that IRS Form 990 and other relevant forms and taxes required by the government are filed completely, correctly and within government-approved timeframes. Frequency of Meetings: Quarterly or more often, as needed, with one meeting to be a joint meeting with the Finance & Operations Committee. Members: x x x x

The Committee Chair will be a trustee with investment knowledge and expertise. The Committee is to have at least one member who is also on the Finance and Operations Committee and the Audit Committee Committee is to have at least three members with investment knowledge and expertise. Non-Board members may be added as particular expertise is required.

Adopted by the Board of Trustees on March 21, 2008 Amended by the Board of Trustees November 18, 2009 Amended by the Board of Trustees March 28, 2012

Health Foundation for Western & Central New York

Section 5.5

Role Description:

Audit Committee

Responsibilities/ Duties: 1. Assure the Foundation’s compliance with all recommended Audit Standards 1.1. Recommend an external auditor for Board approval and manage the relationship with that auditor. Periodically reassess the relationship and seek other proposals, if appropriate. 1.2 Meet with the auditor prior to the audit to agree on the scope of the audit 1.3 After the audit is complete review the audit fieldwork process with the auditors. Obtain an understanding of their evaluation of management and whether they encountered any difficulties or had any disagreements with management during their audit. Review all journal entries proposed by the auditors. Meet in Executive session without staff or advisors for at least part of that meeting. 1.4 Review with the auditor the Foundation’s annual financial statements and reports. Consider whether they are complete and accurate with information understood by the committee members. After this review make a recommendation to the Board concerning whether the Auditor’s report on the Foundations financial statements is acceptable. 1.5 Make recommendations to the Board for new or modified policies and procedures in light of the audit report and auditor’s recommendations. 1.6 Review management’s procedures to ensure that proper federal and state tax filings are completed timely, including payroll taxes, sales taxes and unrelated business income taxes. 2. Oversee compliance with Board policies which relate to implementation and execution of audit-recommended processes. 2.1 Identify and monitor related party transactions and periodically review compliance with Foundation’s conflict of interest and ethics policies and bylaws. Propose improvements or actions as necessary. 2.2 Act promptly, fairly, and in accordance with the Foundation’s Whistleblower policy, if someone invokes it. 3. Support the Board of Trustees in discharging its legal, ethical and fiduciary responsibility. 3.1 When appropriate, work with Finance and Operations Committee and Investment Committee to design and provide periodic education to the Board on governance and ethics matters. 3.2 Inform the Board regarding any laws and regulations that come to the committee’s attention and make recommendations considered appropriate. 3.3 Work closely with the other committees to ensure that our practices and policies are consistent with the most current internal control guidelines relevant to our organization.

Health Foundation for Western & Central New York

Section 5.5 Frequency of Meetings: At least twice annually and more frequently as needed.

Members: Chair is Trustee with business and governance expertise Committee is to have at least one member who also sits on the Finance Committee and at least one who also sits on the Investment Committee. Committee to have at least three members

Adopted by Board of Trustees on September 21, 2005 Adopted by Board of Trustees on March 19, 2008 Adopted by Board of Trustees on March 19, 2014

Health Foundation for Western & Central New York

Section 5.6

Role Description: Community Impact Committee Responsibilities/Duties: This ad-hoc Committee created by the Board in November 2009, and made a formal committee in 2015, has several responsibilities related to the Foundation’s impact on the programs and people of Western and Central New York. These responsibilities include: 1. Support the board’s decision making and strategic development activities by guiding staff‘s planning processes, strategic proposals, goals and objectives. 2. At the request of staff or the Board, conduct in-depth, focused programmatic review to provide input to strategic or annual plans or individual projects. 3. Provide guidance to both Board and staff on matters of assessing/evaluating the effectiveness of initiatives and projects undertaken by the foundation. This includes design of the assessment/evaluation as part of the project development process, interim assessment of progress and review of final results. 4. Where appropriate, based on review of evaluations, recommend changes or enhancements to projects to achieve greater impact, both for the people served by the project and the larger community. 5. Make recommendations on dissemination that effectively spreads the work of the Foundation beyond its immediate audiences. 6. Promote the development of ongoing comprehensive reporting on the impact of the Foundation’s programs and projects, and the development of an infrastructure within the Foundation for this work. 7. Guide the activities of the Foundation’s Advocacy efforts consistent with the Goals of the Foundation. Oversee the compliance with Federal and State legal requirements while effectively forwarding important issues that support the health needs of our Community. 8. Report progress, findings and challenges to the Board at regular Board meetings. Membership: The Board of Trustees shall appoint from among its members at least four trustees, two from each region, with experience and familiarity with strategic development, evaluation and dissemination to serve on this Committee. Meeting Schedule: The Committee will meet at least quarterly. Adopted by Board of Trustees on January 20, 2010 Amended by Board of Trustees on March 23, 2016 Amended by Board of Trustees on December 12, 2018 Health Foundation for Western & Central New York

Section 5.7

ZŽůĞ ĞƐĐƌŝƉƚŝŽŶ͗

'ŽǀĞƌŶĂŶĐĞ ŽŵŵŝƚƚĞĞ

'ŽǀĞƌŶĂŶĐĞ ŽŵŵŝƚƚĞĞ͘ dŚĞ ŚĂŝƌ ƐŚĂůů ƌĞĐŽŵŵĞŶĚ ĂŶĚ ƚŚĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ƐŚĂůů ĞĂĐŚ ǇĞĂƌ ĂƉƉŽŝŶƚ ĨƌŽŵ ĂŵŽŶŐ ŝƚƐ dƌƵƐƚĞĞƐ Ă 'ŽǀĞƌŶĂŶĐĞ ŽŵŵŝƚƚĞĞ ĐŽŶƐŝƐƚŝŶŐ ŽĨ ĨŝǀĞ Žƌ ŵŽƌĞ dƌƵƐƚĞĞƐ͘ dŚĞ ŽŵŵŝƚƚĞĞ ƐŚĂůů͗ ;ĂͿ ĐŽŶĚƵĐƚ ĂŶ ĂŶŶƵĂů ŽĂƌĚ ƐĞůĨͲĂƐƐĞƐƐŵĞŶƚ ŽĨ ƐƚƌƵĐƚƵƌĞ͕ ĚŝǀĞƌƐŝƚǇ͕ ďĂůĂŶĐĞ ŽĨ ƐŬŝůůƐ͕ ĂŶĚ ƉĞƌĨŽƌŵĂŶĐĞ ŽĨ ƚŚĞ ŽĂƌĚ͖ ;ďͿ ƌĞǀŝĞǁ ƚŚĞ ǇͲ>ĂǁƐ ĞĂĐŚ ǇĞĂƌ ĂŶĚ ƌĞĐŽŵŵĞŶĚ ƐƵĐŚ ĐŚĂŶŐĞƐ ĂƐ ŝƚ ƐŚĂůů ĐŽŶƐŝĚĞƌ ĂƉƉƌŽƉƌŝĂƚĞ͖ ;ĐͿ ĂĨƚĞƌ ƐŽůŝĐŝƚĂƚŝŽŶ ŽĨ ƚĞŶƚĂƚŝǀĞ ŶŽŵŝŶĂƚŝŽŶƐ ĂŶĚ ĐŽŶƐƵůƚĂƚŝŽŶ ǁŝƚŚ ƚŚĞ ďŽĂƌĚ͕ ŶŽŵŝŶĂƚĞ dƌƵƐƚĞĞƐ ĨŽƌ ĞůĞĐƚŝŽŶ ďǇ ƚŚĞ ŽĂƌĚ ƚŽ Ĩŝůů ǀĂĐĂŶĐŝĞƐ ĂƐ ƚŚĞǇ ŽĐĐƵƌ͖ ;ĚͿ ŶŽŵŝŶĂƚĞ Ă ƐůĂƚĞ ŽĨ ŽĨĨŝĐĞƌƐ ĞĂĐŚ ǇĞĂƌ͘

Health Foundation for Western & Central New York

Section 5.8

Role Description: President The Foundation: The Health Foundation for Western & Central New York, a conversion-type foundation, is dedicated to improving the health and healthcare of the people and communities of Western and Central New York. Dimensions: Grants awarded by Foundation annually: (TBD approx. 1.5M) Annual office operating budget: (TBD) Responsibilities/Duties: The President of the Health Foundation for Western & Central New York reports directly to the Board of Trustees of the Health Foundation for Western & Central New York. While not a voting member of the Board, the President addresses issues of planning, grants, program, finance and administration in consultation with and through officers and other designated Trustees. Specific duties of the President shall include direct responsibility and/or oversight of the following: Administrative: x x x x x x x x x x

Planning and implementing Board meetings under the leadership of the Board Chair, and preparing all support materials needed for each. Assuring, with the Secretary of the Board, the recording and maintaining of an official record of minutes and governing documents. Representing the Foundation in contacts with and at functions of other foundations, associations, and grantees. Maintaining the archives of the Foundation and researching information as necessary. Monitoring compliance with the policies and procedures of the Foundation, with the assistance of the Board of Trustees. Assisting the Board of Trustees on research and contacts for new Board members and providing orientation for new Board members. Informing the Board of educational opportunities which might be of interest to them and of benefit to the Foundation. Coordinating all arrangements for special program meetings as directed by the Board. Operating and maintaining the Foundation office. Responding to requests from the Board for information and assistance. Health Foundation for Western & Central New York.

Section 5.8

Recruiting, hiring and supervising staff and consultants necessary to fulfill the mission and objectives.

Financial: x x x x x x x

Ensuring the Foundation has sufficient funds to meet its obligations (shared responsibility with the Board of Trustees). Developing and providing timely and clear budget reports for approval and oversight of the Board of Directors. Overseeing, with the Treasurer, financial record keeping and working with the bookkeeper to produce timely and accurate reports for the Board of Trustees and the Auditor. Reviewing and maintaining records for the production of all tax forms, including the 990PF. Processing all bills in compliance with Board review and check signing policies. Reviewing and paying all Board member reimbursements in compliance with the Board policy. Coordinating management of the Foundation’s assets with the Treasurer, the Investment committee, investment consultants and individual portfolio managers.

Program: x x x x x x x x x

Ensuring that all concept papers, requests for information, and grant requests and reviewed and responded to in a timely manner. Ensuring that grant summaries are prepared for Board review and are entered into grant tracking software. Negotiating with potential and approved grantees on project proposals. Developing all grant agreements and ensuring proper review by legal counsel. Doing site visits as necessary before, during add/or at the end of a grant. Providing technical assistance to grantees and other organizations. Maintaining all grant files and producing periodic tracking reports for the Board of Trustees. Providing networking services for grantees. Communicating periodically with each grantee to ensure compliance with grant agreement and fund expenditures.

Outreach: x x

Responding to phone and meeting requests from grantees, the philanthropic community, other organizations related to the Foundation’s program areas and the general public. Assisting the Trustees in developing communication products such as an annual report, website, special publications, and media information. Health Foundation for Western & Central New York.

Section 5.8

x x x x x x

Staying current on health statistics and trends and public policy related to the Foundation’s program areas and distributing pertinent information to the Board of Trustees. Staying current on management policy issues through close association with local, regional and national affinity groups. Speaking before audiences on Foundation program-related issues when invited. Writing articles, and providing information for the media on the history, and work of the Foundation as requested. Representing the Foundation to local, regional and national constituencies of importance to the Foundation as directed by the Board of Trustees. Serving on other organizations’ committees and boards, as approved by the Board of Trustees, where such service will benefit the operation of the Foundation.

Adopted by the Board of Trustees on November 20 , 2002 Health Foundation for Western & Central New York.

Section 6.1 Page 1

Statement of Investment Objectives and Investment and Spending Guidelines I.

Philosophy

The investment assets of the Health Foundation for Western & Central New York (the “Foundation”) are intended to support an array of activities that further the Foundation’s mission. The Board of Trustees, ever mindful of their stewardship, have caused this Statement of Investment Objectives and Investment and Spending Guidelines (the “Statement”) to be prepared as a policy framework for a disciplined process that seeks to add value and minimize risk for the investment assets of the Foundation as designated by the Trustees (collectively, the “Fund”) and those who benefit from these assets. II. Investment Objectives The Fund is subject to disciplined longer term investment objectives and strategies that will accommodate relevant, reasonable, or probable events. Careful management of the Fund is designed to ensure a total return (income plus capital change) necessary to preserve and enhance (in real dollar terms) the value of the Fund and at the same time provide a dependable source of support for current operations and programs. The Fund shall be invested with the care an ordinarily prudent person in a like position would exercise under similar circumstances. The following factors, if relevant, will be considered in managing and investing the Fund: – – – – – – – –

General economic conditions; The effects of inflation or deflation; The expected total return from income and the appreciation of investments; The expected tax consequences, if any, of investment decisions or strategies; The role that each investment or course of action plays within the overall investment portfolio of the Fund; Other resources of the Foundation; The needs of the Foundation and the fund to make distributions and preserve capital; and An asset’s special relationship or special value, if any, to the Foundation’s purpose. III.

Diversification of Investments

In recognition of the prudence required of fiduciaries, reasonable diversification will be sought where possible. Experience has shown financial markets and inflation rates are cyclical and therefore, control of volatility will be achieved through diversification of asset classes and selection of managers of diverse investment styles. Investments are required to be diversified, and any decision not to do so should be reviewed annually, at a minimum.

Health Foundation for Western & Central New York

Section 6.1 Page 2

IV.

Social Investing Policy

Consistent with the Foundation’s mission, and to the extent feasible, no investments will be made in business enterprises whose principal activities involve alcohol, tobacco, or firearms (handguns and assault weapons). Furthermore, to the extent feasible, no investments will be made in any commingled vehicles that hold more than five percent (5.0%) of its total assets in business enterprises whose principal activities involve alcohol, tobacco, or firearms (handguns and assault weapons). V.

Asset Allocation

Since the selection and weighting of asset classes is the primary determinant of investment return and volatility, asset choice will be carefully considered by the Investment Committee in accordance with a systematic allocation process derived from consultation with their advisors. The fund is to be structured for long term growth with a broadly diversified mix of asset classes and styles. Approved asset classes and policy target ranges are noted below: % Target Allocation 26.0

% Interim Target Allocation 28.5

% Range 21.0 – 36.0

International Equity

26.5

29.0

21.5 – 36.5

Private Equity

10.0

5.0

0.0 – 15.0

Flexible Capital

17.5

12.5 – 22.5

Flexible Capital Composite

Real Assets

10.0

5.0 – 15.0

Real Assets Composite

Fixed Income Core Fixed Income U.S. Treasury

10.0 5.0 5.0

10.0

5.0 – 15.0

Fixed Income Composite

Cash Equivalents and Short Term

0.0

0.0 – 5.0

90 Day T-Bill

Domestic Equity

Index Benchmark Russell 3000 MSCI AC World ex USA (Net)

All Private Equity Index

All Private Equity Index private equity funds (buyout, growth equity, subordinated debt, control-oriented distressed, credit opportunity funds), including fully liquidated partnerships Flexible Capital Composite Index is composed of 45% HFRI FOF Diversified Index/55% HFRI Weighted Composite Index Real Assets Composite Index is composed of actual allocation to specific managers and their respective benchmarks Fixed Income Composite Index: 50% Bloomberg Barclays Aggregate Index/ 50% Bloomberg Barclays US Treasury 5-10 Year Index

Health Foundation for Western & Central New York

Section 6.1 Page 3

The target for the actual asset mix will be reviewed by the Investment Committee at least annually. As part of this process, a rebalancing procedure within the policy framework of the adopted asset allocation model has been established. More specifically, the review guideline will be: –

Changes in the allocation to the asset class segments or sub segments will be made at any time the quarterly weighting is outside the established weight range as defined in the asset allocation model. – Changes in the allocations may be considered any time a segment weighting varies by five percentage points from the current recommended segment weighting. The Investment Committee will review the segment asset allocations at their regularly scheduled meeting and any changes in the allocations will be made after the meeting. In the case of major market movements resulting in variations as provided above, rebalancing of the segment allocations may be made prior to the quarterly review upon approval of the Investment Committee. VI.

Spending Guidelines

The amount available for appropriation for expenditure during a fiscal year is expected to be sufficient to satisfy the Foundation’s obligations as calculated in accordance with Internal Revenue Code Section 4942 (approximately 5% of the average 12-month fair value of the Foundation’s investment portfolio). The Foundation may expend more than the mandated tax distribution if it deems it prudent to achieve its charitable purposes. The Finance Committee may consider, if relevant, any of the following factors in establishing a spending rate from the Fund: – – – – – – –

The duration and preservation of the Fund; The general charitable purposes of the Foundation; General economic conditions; The possible effect of inflation and deflation; The expected total return from income and the net appreciation in the value of investments; The other resources of the Foundation; and This Statement.

From time to time the Foundation may accept donor-restricted endowment funds. The donorrestricted endowment funds will be subject to the Foundation’s general investment policies absent any donor restrictions to the contrary. The Foundation will document its consideration of the factors as identified in New York Prudent Management of Institutional Funds Act (NYPMIFA) before appropriations are made from the donor-restricted endowment. The Foundation permits spending from underwater endowment funds unless otherwise precluded by donor intent or relevant laws and regulations. Spending and investment activity will be calculated on the foundations proportionate share of costs and total investment pool.

Health Foundation for Western & Central New York

Section 6.1 Page 4 The Foundation shall keep a contemporaneous record describing the consideration that was given by the Finance Committee to any of the factors enumerated above or others as it deems appropriate. VII. A.

Delegation of Authority

Responsibilities of the Board of Trustees

The members of the Board of Trustees are fiduciaries charged with the oversight of the management of the assets of the Fund. As such, the Board is authorized to delegate certain responsibilities to its Finance Committee and its Investment Committee, which in turn may delegate to professional experts in various fields. Any person who has special skills or expertise, or is selected in reliance upon the person’s representation that the person has special skills or expertise, has a duty to use those skills or that expertise in managing and investing the Fund. The Board and its committees shall discharge their duties in accordance with the New York Not-for-Profit Corporation Law and the New York Prudent Management of Institutional Funds Act (NYPMIFA). The specific responsibilities of the Board relating to the investment management of the Fund assets include but are not limited to approval of this Statement and its periodic review. B.

Responsibilities of the Finance Committee

The Finance Committee is responsible for projecting the Foundation’s financial needs by adopting an annual budget, consistent with the spending guidelines set forth in this Statement. The Committee is also responsible for communicating such needs to the Investment Committee on a timely basis. C.

Responsibilities of the Investment Committee

The Investment Committee is charged with the responsibility for managing the assets of the Fund. The Committee Members shall discharge their duties solely in the interests of the Foundation, in good faith and with the care an ordinarily prudent person in a like position would exercise under similar circumstances. The specific responsibilities of the Investment Committee include but are not limited to: – Recommending amendments to this Statement for approval by the Board of Trustees. – Selecting qualified investment professionals, to the extent it is deemed necessary, including such Investment Manager(s), Investment Consultant(s), Custodian(s) and additional specialists as may be determined. – Evaluating on a regular basis the performance of any Investment Professional to assure adherence to this Statement and monitoring progress towards achieving investment objectives. The Investment Committee will not reserve any control over direct investment decisions, with the exception of specific limitations described in this Statement. Investment Managers will be held responsible and accountable to achieve the investment objectives herein stated.

Health Foundation for Western & Central New York

Section 6.1 Page 5 D.

Responsibilities of the Investment Consultant

The Investment Consultant’s role is that of a non-discretionary advisor to the Investment Committee. Advice concerning the investment management of the Fund will be offered by the Investment Consultant, and will be consistent with this Statement. Specific responsibilities of the Investment Consultant include but are not limited to: – – – –

– – – – – –

Assisting in the development and annual review of this Statement. Conducting investment manager searches when requested by the Investment Committee. Providing research on the Investment Managers. Monitoring the performance of the Investment Managers quarterly and reporting to the Investment Committee on the progress of the Managers relative to the investment objectives. Communicating matters of policy, manager research, and manager performance to the Investment Committee. Assisting the Investment Committee in the development of a strategic asset allocation plan and its implementation. Assisting the Investment Committee in the negotiation of fees with the Investment Manager(s). Establishing customized investment performance benchmarks for the overall Fund and for each component of the Fund. Recommending the termination and/or change of any Investment Manager(s). Assisting the Investment Committee with the periodic rebalancing of the Fund.

On an annual basis, the Investment Committee will review and evaluate the effectiveness of the Investment Consultant in meeting these responsibilities through the use of an evaluation method as determined by the committee. If the work of the Investment Consultant is determined to be unsatisfactory, the Investment Committee shall terminate the relationship. E.

Responsibilities of the Investment Manager(s)

Each Investment Manager will have full discretion to make all investment decisions for the assets placed under its jurisdiction, while observing and operating within all policies, guidelines, constraints and philosophies as outlined in this Statement. In addition, Investment Managers are expected to conduct themselves with the highest degree of professionalism. Specific responsibilities of the Investment Manager(s) include but are not limited to: –

– –

Discretionary investment management, including decisions to buy, sell or hold individual securities and to alter asset allocation within the guidelines established in this Statement. Reporting, on a timely basis, quarterly investment performance results. Timely communication of any major changes to economic outlook, investment strategy, or any other factors affecting the implementation of the investment process or the progress toward meeting performance objectives. Health Foundation for Western & Central New York

Section 6.1 Page 6 –

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Informing the Investment Committee and the Investment Consultant(s) of any qualitative changes to the investment management organization. Examples include changes in portfolio management personnel, ownership structure, and investment philosophy or investment discipline. Timely communication of trading information to the Investment Committee and the Investment Consultant(s). VIII.

Evaluation of Investment Managers and Investment Funds

The following criteria will be used to evaluate Investment Manager and Investment Fund performance. A.

Performance Objectives for Active Management

The manager(s)/fund(s) will be expected to consistently achieve a total rate of return which is equal to or above the median return in a universe of peers with comparable investment styles or portfolio objectives. Total return is defined as dividend or interest income plus realized and unrealized capital appreciation or depreciation at fair market value. B.

Index Management

Where index funds are used, the return and standard deviation should closely track the appropriate index. C.

Investment Style

The manager(s)/fund(s) will maintain a portfolio for the Foundation characterized by their respective traditional management styles and, if a change in such style is contemplated, the manager is required to make advance written notification to the Foundation. D.

Change in Objectives or Asset Allocation

A change in objectives or asset allocation strategy may require that funds be transferred between asset classes, to new asset classes, or among styles within asset classes. These changes may result in increases, decreases or elimination of fund under management by a specific Investment Manager. IX.

Performance Measurement

Measuring Investment Manager progress against policy objectives and for consistency in measuring performance against the total return objectives, performance will be reflected net of management fees and transaction costs.

Health Foundation for Western & Central New York

Section 6.1 Page 7 X.

Limitations and Restrictions

Solely with respect to non-pooled fixed income accounts, not more than ten percent (10%) of an Investment Manager’s portfolio may be invested in the securities of any one issuer, with the exception of the U.S. Government or its agencies. Investments rated below BBB by Standard & Poors Corporation or comparable nationally recognized rating service is limited to not more than fifteen percent (15%) at cost. Unrated securities considered by the Investment Manager to be within the quality guidelines of the account may be purchased. In the case of a split rating, the higher rating shall apply. If a downgrade causes a violation of these guidelines, such downgraded security may be held at the Investment Manager’s discretion. The following categories of investments are not permitted for investment without the Investment Committee prior approval: (i) Private placements or restricted securities, other than Rule 144A Securities – except as may be positioned in a commingled fund which does not specifically emphasize private placements; (ii) Commodities – including gold, precious gems or commodity futures; (iii) Conditional sales contracts; (iv) Uncovered options; (v) Short sales or margin purchases; (vi) Transferable certificates of participation in business trusts and limited partnerships; (vii) Use of derivatives or leverage; (viii) Securities of the investment managers or their respective parents, subsidiaries or affiliates; (ix) Investments in companies doing business not in accordance with the policy statements of the Foundation; and (x) Securities in violation of State law. XI.

Use of Derivatives and Leverage

In general, the Fund will not make direct use of derivatives or leverage. However, the Fund may have exposure through certain Investment Managers, such as those in the Flexible Capital and Inflation Hedging segments of the portfolio. When prudently used, derivative instruments and strategies can be an important element of general portfolio management. Derivatives offer investment management firms effective alternatives to trading physical securities, provided firms have the technical knowledge of the market factors, the quantitative skills to analyze the securities over a range of scenarios and the ability to determine reasonable valuation before purchasing. Investment Management agreements or Investment Manager guidelines must explicitly authorize the use of derivatives, or clearly state when their use is permitted. Any derivative strategies must be comparable to strategies historically used by the Investment Manager in managing underlying physical assets and the Investment Manager is responsible for keeping the Foundation informed on current internal policies regarding the use of derivatives. If any change in the firm’s policies is being considered, the Investment Committee is to be notified, in writing, sufficiently in advance to consider the effect of the change and if appropriate, to terminate the portfolio prior to the change taking effect. Derivative based strategies may not subject the Foundation’s portfolio to greater variability (e.g., IOs, POs, inverse floaters, etc.) than would be typical of a physical asset portfolio of the same character.

Health Foundation for Western & Central New York

Section 6.1 Page 8 Futures and options contracts are restricted to actively traded liquid instruments on major exchanges, or to over-the-counter options or forward contracts executed with major dealers. All futures, options or forward contracts must be offset, in full, by underlying asset positions.

XII.

Communication and Reporting

Where a portion of the Fund is separately managed, the manager is responsible for free and open communication with the Trustees through the Investment Committee in all significant matters pertaining to investment policies and management of fund assets, including but not limited to: (i) Major changes in the investment manager’s investment outlook, investment strategy and portfolio structure; (ii) Any significant changes in the ownership, organizational structure, financial condition or senior personnel staffing of the investment manager’s organization; and (iii) Quarterly transactions, evaluation and performance reports. Quarterly evaluations of assets under management shall be supplied by the investment managers, in the form as may be requested by the Investment Committee and to include market valuations, industry segmentations, transaction registers, cash statements, and similar reports. The report of fixed income and equities shall show inventories at cost, purchase date, market value and share or unit values at cost, and market values. At reasonable times and at the direction of the Investment Committee, meetings shall be held with the Investment Manager(s) to discuss performance results, economic outlook, organizational changes and other pertinent matters. All documents, exhibits and other written material to be used during such conferences shall be submitted by the Investment Manager(s) at least five (5) business days in advance of the conferences. All materials required of the Investment Manager(s) and any custodian shall also be provided to the Investment Consultants. In addition, the Investment Manager(s) and the custodian shall provide evidence of liability and fiduciary insurance and have its employees bonded unless otherwise exempted by law or governmental regulation. XIII.

Conflict of Interest

It is the policy of the Trustees to avoid conflicts of interest in its operations and in the selection of investment professionals or funds. Therefore, administrative officers, Trustees, and members of the Investment Committee shall disclose any financial or familial relationship with any investment professional being considered. Similarly, the Investment Management Consultant, if any, shall have no financial relationship with any Investment Manager or fund serving the Foundation.

Health Foundation for Western & Central New York

Section 6.1 Page 9

XIV.

Implementation

To the extent that Fund assets are not currently managed in accordance with this Statement, the Investment Manager shall conform in all respects to this Statement within sixty (60) days of its receipt hereof. This Statement should be reviewed annually or whenever a change in financial condition warrants a review.

Adopted by the Board of Trustees in February 2002 Revised by the Board of Trustees in September 2002 Revised by the Board of Trustees in January 2003 Revised by the Board of Trustees in February 2004 Revised by the Board of Trustees in March 2005 Revised by the Board of Trustees in March 2006 Revised by the Board of Trustees July 22, 2009 Revised by the Board of Trustees February 16, 2011 Revised by the Board of Trustees November 16, 2011 Revised by the Board of Trustees March 23, 2016 Revised by the Board of Trustees on September 21, 2016 Revised by the Board of Trustees on March 22, 2017 Revised by the Board of Trustees on November 6, 2019 Revised by the Board of Trustees on March 11, 2020

Health Foundation for Western & Central New York

Section 6.2

FINANCIAL and LEGAL

Financial and Legal A. Financial Management a.1 The Foundation will operate in accordance with an annual budget that has been developed by staff in consultation with appropriate committees and approved by the Board of Trustees. a.2

Internal financial statements will be prepared no less frequently than quarterly and provided to the Board of Trustees. The statements will identify and explain any material variations between actual and budgeted revenues and expenses.

a.3

The Foundation will have written policies governing: a) investment of the assets of the Foundation, b) internal control procedures, and c) purchasing practices.

a.4

The Foundation will periodically assess the need for insurance coverage in light of the nature and extent of its activities and financial capacity. Decisions regarding general and Trustees and Officers liability coverage will be made by the Board and recorded in the minutes of the Annual Meeting.

B. Legal Compliance b.1 The Foundation will comply with all applicable federal, state and local laws and regulations. This may include, but will not be limited to, compliance in the areas of licensing, financial reporting and accountability, human resources, lobbying and political advocacy, and taxation. b.2 A review of the Foundation’s compliance with legal, regulatory and financial reporting requirements will be conducted periodically. Board members will receive a summary of the results of the review. . Endorsed by the Board of Trustees May 14, 2005

Health Foundation for Western & Central New York

Section 6.3

FISCAL CONTROL

1. Budget a. The Foundation’s primary day-to-day financial monitoring and accountability tools are the Foundation’s budget, expense authorization process and appropriate monthly financial statements. b. The Foundation has an annual operating budget that is approved by its Board of Trustees at a meeting prior to or at the beginning of the fiscal year. This budget includes all anticipated administrative and personnel-related expenditures and a projection of grant amounts to be distributed during the following year. c. The analysis of the Foundation’s annual operating budget should include an assessment of investment balances and projected cash requirements to support qualified distributions and operating expenses. d. Once approved by the Board of Trustees, the operating budget may be amended either by unanimous written consent or by a majority vote of the Trustees. d. Monthly financial statements shall be compiled and reported to the Board at the meeting following their preparation. 2. Approval of Expenditures a. Reimbursement for travel and other personal expenses incurred by the President shall be approved by a Trustee authorized by the Board Chair to approve expenditures before reimbursement is made. Any reimbursement to a trustee, other than the routine reimbursement for Board/Committee meeting attendance, shall be approved by the Board Chair or Treasurer before reimbursement is made. b. Grant agreements which formalize the awarding of grants authorized through the Board-approved process may be approved by the President. 3. Signature Authority a. All grant and other foundation fiscal obligations shall be paid by either electronic fund transfers or by check.

Health Foundation for Western & Central New York

Section 6.3 b. The Board Chair, Vice Chair, Treasurer, Secretary, President, Vice President, any other person so designated by the Executive Committee, and each of them individually except as otherwise provided shall have the authority to sign checks and authorize electronic fund transfers on behalf of the Foundation. Dual authorizations are required for any expenditure over $30,000 and shall be signed by the President and another authorized signatory. c. No individual can sign a check or authorize a payment for that person’s personal benefit or expenses, except where explicitly approved by the Board Chair or the Treasurer in advance in writing. d. Facsimile signature plates or stamps will not be used on Foundation checks or other legal or financial documents. All check signatures must be original. 4. Receipt of Funds a. Deposits to Foundation accounts shall be made as quickly as possible after receipt. Prior to deposit, all checks and other financial instruments shall be kept within the Foundation premises in a secure location. b. Endorsement of checks or other financial instruments payable to the Foundation shall be made in the manner determined by the Vice President of Finance and Operations.

Adopted by the Board of Trustees on July 17, 2003 Endorsed by the Board of Trustees on May 14, 2005 Revised by the Board of Trustees on July 21, 2010 Revised by the Board of Trustees on May 21, 2011 Revised by the Board of Trustees on March 28, 2012 Revised by the Board of Trustees on May 18, 2012 Revised by the Board of Trustees on September 19, 2012 Revised by the Board of Trustees on September 17, 2014 Revised by the Board of Trustees on September 21, 2016

Health Foundation for Western & Central New York

Section 6.4

HUMAN RESOURCES

Human Resources The Foundation recognizes that the relationship with its employees and volunteers is fundamental to its ability to deliver its mission. A. Human Resources Policies The Foundation will have, when and as deemed appropriate to its size and stage of development, written Human Resources policies and procedures that govern the relationship with employees and volunteers. The development of these policies will be the responsibility of the President. In regard to employees, the policies will cover terms and conditions of employment, performance evaluation, grievance procedure, confidentiality requirements and professional development. In regard to volunteers, the policies and procedures will include initial assessment or screening, assignment to and training for appropriate responsibilities, ongoing supervision and performance evaluation. B.

Alcott Group Until further notice, the Foundation is in a co-employer relationship with Alcott Group. Alcott has prepared a human resources policy manual which reflects the Foundation’s policies and benefits and shall be provided to each employee upon hire and periodically thereafter if there are substantive changes. C. Orientation Employees will receive an orientation, tailored to the nature of their contribution to the Foundation.

Endorsed by the Board of Trustees May 14, 2005

Health Foundation for Western & Central New York.

Section 6.5

HEALTH FOUNDATION FOR WESTERN & CENTRAL NEW YORK, INC. WHISTLEBLOWER POLICY (Policy for reporting Financial, Auditing or Governance Improprieties)

The Foundation’s officers, directors, employees and volunteers (collectively, “Foundation Associates”) must act in accordance with all laws and regulations applicable to non-profit and private foundations, faithfully implement the Foundation’s own policies and procedures and observe high standards of business and personal ethics, honesty and integrity in the conduct of their duties and responsibilities. This is particularly true with regard to matters and controls that affect the Foundation’s finances, audits and governance. Accordingly, all Foundation Associates have the responsibility to report any circumstances of which they have actual knowledge or a reasonable good faith belief that the Foundation’s internal controls, auditing functions, accounting systems, or governance policies are compromised or threatened. It is the policy of the Foundation to prevent or detect and correct any improper activities. Procedure for Reporting Financial, Auditing or Governance Improprieties: If a Foundation Associate becomes aware of or has a reasonable good faith belief that the Foundation’s internal controls, auditing functions, accounting systems, or governance policies are compromised or threatened, the Foundation Associate should report his or her concerns immediately to the President or Chair of the Board. Examples of such improprieties include, but are not limited to, the following: x

supplying false or misleading information on the Foundation’s financial documents, including the tax return (Form 990PF),

providing false information to or withholding material information from the Foundation’s auditors,

violations of the conflict of interest policy,

self-dealing, private inurnment and private benefit (i.e., foundation assets being used for personal gain or benefit),

payment for services or goods that are not rendered or delivered,

embezzlement, or

planning, facilitating or concealing any of the above.

If a Foundation Associate does not believe that normal channels of communication can/should be used to express concerns about or knowledge of improprieties (e.g., contacting the President or Chair of the Health Foundation for Western & Central New York 059579.00000 Business 12745636v2

Section 6.5 Board directly), the report should be submitted immediately to the Chair of the Audit Committee (together with the President and Chair of the Board, each a “Designated Official”). A report may be submitted in writing or verbally, but each report must contain enough information to substantiate the concern described in the report and to allow an appropriate investigation to be conducted. If the report is provided verbally, the Designated Official receiving the report should immediately document the concern, the specifics as reported and the date and time of the report. In either event, the applicable Designated Official receiving the report should acknowledge its receipt in writing to the Foundation Associate. Any Designated Official receiving such a report shall promptly provide written notice of same to the Audit Committee or other committee of independent trustees, or if there are no such committees, to the independent trustees on the Board. All reports received will be acted upon in confidence to the maximum extent possible given legal requirements and the need to gather facts, conduct an effective investigation and take necessary corrective action. Following investigation, the Foundation may take such appropriate remedial and disciplinary action as it deems justified by the circumstances, including but not limited to terminating employment, seeking restitution, and/or reporting the matter to appropriate law enforcement authorities. The Foundation will timely report the resolution of the concern to the initial reporter in writing. Retaliation Prohibited The Foundation will not tolerate intimidation, harassment, discrimination, retaliation, or, in the case of employees, adverse employment consequence, whether direct or indirect, against any Foundation Associate who makes a good faith report in accordance with this policy or who cooperates with an investigation of a report. Notwithstanding the foregoing, a Foundation Associate who makes an allegation that proves to have been made maliciously or knowingly to be false, will be subject to disciplinary action up to and including termination of employment, as applicable, and such disciplinary action shall not constitute retaliation even if the Foundation Associate cooperates fully with the Foundation investigation of the violation.

Distribution of the Whistleblower Policy A copy of this Board policy will be distributed to all directors, officers, employees and to volunteers of the Foundation who provide substantial services to the Foundation. It should also be included in the Employee Manual which is given to each employee upon hire. Current employees should each acknowledge receipt of this Board policy. Adopted by the Board of Trustees on March 22, 2006 Amended by the Board of Trustees on July 16, 2014

Health Foundation for Western & Central New York 059579.00000 Business 12745636v2

Section 6.6

COMMUNICATIONS

Communications The Foundation was qualified as a 501-C-3 corporation by the Internal Revenue Service (12/10/2002) and further classified as a private foundation (509a). As such we will meet or exceed requirements to provide the public we serve with information about our mission, program activities and finances. A. Annual Report The Foundation will prepare and make available annually to the public, information about our mission, program activities and basic financial data. This annual report will also identify the Foundation’s Board of Trustees and management staff. This information may be released in a printed version from time to time but will be regularly available at the foundation website, www.hfwcny.org.

B. Public Access b.1 The Foundation will provide members of the public in the communities we serve who express an interest in the affairs of the Foundation with a meaningful opportunity to communicate with an appropriate representative. b.2 The Foundation will comply with both the letter and spirit of state and federal laws that require disclosure of information to members of the public. C. Media Relations All persons affiliated with the Foundation, including but not limited to members of the Board of Trustees, staff and any Foundation committees, will refrain from commenting to the media regarding the Foundation, its members, activities or plans except for announcements approved by the President of the Foundation or his or her designee. Questions from the media shall be referred to the Communications Director of the Foundation or his or her designee.

Health Foundation for Western & Central New York

Section 6.6 D. Public Education The Foundation will ensure that any educational information provided to the media or distributed to the public is factually accurate and provides sufficient contextual information to be understood. The President and his or her designees will be solely responsible for the release of Foundation information and/or documents to governmental officials, agencies and community groups. E. Public Policy Advocacy e.1

The Foundation will, whenever appropriate, have a written advocacy policy defining the process by which we determine positions on specific issues.

e.2

Lobbying: The Foundation will not, and no affiliate, acting directly or indirectly on behalf of the Foundation will participate in or intervene in any political campaign on behalf of any candidate for public office, including the publishing or distributing of statements. No substantial part of the activities of the Foundation will consist of carrying on propaganda, or otherwise attempting to influence legislation, except to the extent permitted by applicable law and regulations for not-for-profit, tax-exempt organizations. The President and his or her designees shall direct all activities, which may be deemed to fall within this section.

F. Promoting Public Participation f.1

The Foundation will encourage board members, staff, volunteers and constituents to participate in the public affairs of their community.

f.2

When participating in community affairs, Foundation staff and trustees will be diligent in taking a strictly nonpartisan approach.

Endorsed by the Board of Trustees May 14, 2005

Health Foundation for Western & Central New York

ZŝĐŚĂƌĚ '͘ ĂƚƚĂŐůŝĂ͕ D͘ ͘ tŽƌŬ WŚŽŶĞ͗ ;ϮϭϱͿ ϰϰϲͲϯϱϭϯ Ğůů͗ ;ϳϭϲͿ ϱϯϲͲϵϭϮϲ ͲDĂŝů͗ ŐƌŝĨĨŝŶďĂƚΛŐŵĂŝů͘ĐŽŵ ZŝĐŚĂƌĚ ĂƚƚĂŐůŝĂ͕ D͘ ͕͘ D͘W͘,͕͘ ǁĂƐ ĞůĞĐƚĞĚ ƚŽ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŝŶ ϮϬϭϴ͘ ďŽĂƌĚ ĐĞƌƚŝĨŝĞĚ ŝŶƚĞƌŶŝƐƚ͕ ƌ͘ ĂƚƚĂŐůŝĂ ŝƐ ĐŚŝĞĨ ŵĞĚŝĐĂů ŽĨĨŝĐĞƌ ŽĨ ƚŚĞ ŵĞƌŝĐĂŶ ŽĂƌĚ ŽĨ /ŶƚĞƌŶĂů DĞĚŝĐŝŶĞ͘ dŚĞƌĞ͕ ŚĞ ůĞĂĚƐ /D͛Ɛ ĞĨĨŽƌƚ ƚŽ ŝŶĐŽƌƉŽƌĂƚĞ ĨĞĞĚďĂĐŬ ĨƌŽŵ ƉƌĂĐƚŝĐŝŶŐ ƉŚǇƐŝĐŝĂŶƐ ĂŶĚ ŬĞǇ ƐƚĂŬĞŚŽůĚĞƌƐ ŝŶƚŽ ĐůŝŶŝĐĂů ĂƐƉĞĐƚƐ ŽĨ Ăůů /D ĂĐƚŝǀŝƚŝĞƐ͕ ŝŶĐůƵĚŝŶŐ ĐĞƌƚŝĨŝĐĂƚŝŽŶ ĂŶĚ ŵĂŝŶƚĞŶĂŶĐĞ ŽĨ ĐĞƌƚŝĨŝĐĂƚŝŽŶ͘ WƌĞǀŝŽƵƐůǇ͕ ƌ͘ ĂƚƚĂŐůŝĂ ƐĞƌǀĞĚ ĂƐ Ă ƉƌŝŵĂƌǇ ĐĂƌĞ ŝŶƚĞƌŶŝƐƚ ǁŝƚŚ ,ĞĂůƚŚ ĂƌĞWůĂŶͬhŶŝǀĞƌĂ͕ Ă ŵƵůƚŝͲƐƉĞĐŝĂůƚǇ͕ ƐƚĂĨĨ ŵŽĚĞů ƉƌĂĐƚŝĐĞ ŝŶ ǁĞƐƚĞƌŶ EĞǁ zŽƌŬ͕ ďĞĨŽƌĞ ƚƌĂŶƐŝƚŝŽŶŝŶŐ ŝŶƚŽ ůĞĂĚĞƌƐŚŝƉ ƌŽůĞƐ͕ ŝŶĐůƵĚŝŶŐ ŵĞĚŝĐĂů ĚŝƌĞĐƚŽƌ ŽĨ ƚŚĞ DĞĚŝĐĂů ĞŶƚĞƌƐ ŝǀŝƐŝŽŶ ĂŶĚ ƐĞŶŝŽƌ ǀŝĐĞ ƉƌĞƐŝĚĞŶƚ͕ ŵĞĚŝĐĂů ĂĨĨĂŝƌƐͬĐŽƌƉŽƌĂƚĞ ŵĞĚŝĐĂů ĚŝƌĞĐƚŽƌ͘ ,Ğ ĂůƐŽ ƐĞƌǀĞĚ ĂƐ ŵĞĚŝĐĂů ĚŝƌĞĐƚŽƌͬĐŚŝĞĨ ŵĞĚŝĐĂů ŽĨĨŝĐĞƌ ŽĨ ůĂƌŐĞ ŵƵůƚŝƐƉĞĐŝĂůƚǇ ŵĞĚŝĐĂů ŐƌŽƵƉƐ ŝŶ ǁĞƐƚĞƌŶ EĞǁ zŽƌŬ͘ ƌ͘ ĂƚƚĂŐůŝĂ ŚĂƐ ƉĂƌƚŝĐŝƉĂƚĞĚ ŝŶ ŶĂƚŝŽŶĂů ƋƵĂůŝƚǇ ŝŶŝƚŝĂƚŝǀĞƐ ĨŽĐƵƐĞĚ ŽŶ ƉŚǇƐŝĐŝĂŶ ŐƌŽƵƉ ƉƌĂĐƚŝĐĞ ĂŶĚ ŚĞĂůƚŚ ŵĂŝŶƚĞŶĂŶĐĞ ŽƌŐĂŶŝǌĂƚŝŽŶƐ͘ &Žƌ ŵŽƌĞ ƚŚĂŶϭϬ ǇĞĂƌƐ͕ ŚĞ ĚĞǀŽƚĞĚ ƚŝŵĞ ƚŽ dŚĞ EĂƚŝŽŶĂů ŽŵŵŝƚƚĞĞ ĨŽƌ YƵĂůŝƚǇ ƐƐƵƌĂŶĐĞ͕ ŝŶĐůƵĚŝŶŐ Ă ƚĞƌŵ ĂƐ ĐŚĂŝƌŵĂŶ ŽĨ ƚŚĞ ĐŽŵŵŝƚƚĞĞ ĐŚĂƌŐĞĚ ǁŝƚŚ ĂĐĐƌĞĚŝƚĂƚŝŽŶ ĚĞĐŝƐŝŽŶͲ ŵĂŬŝŶŐ͘ /ŵŵĞĚŝĂƚĞůǇ ƉƌŝŽƌ ƚŽ ũŽŝŶŝŶŐ /D͕ ŚĞ ǁĂƐ Ă ĐŽŶƐƵůƚĂŶƚ ŝŶ WƌŝĐĞǁĂƚĞƌŚŽƵƐĞ ŽŽƉĞƌƐ͛ ŚĞĂůƚŚ ĐĂƌĞ ƉƌĂĐƚŝĐĞ͘ tŽƌŬŝŶŐ ďŽƚŚ ŶĂƚŝŽŶĂůůǇ ĂŶĚ ŝŶƚĞƌŶĂƚŝŽŶĂůůǇ͕ ƌ͘ ĂƚƚĂŐůŝĂ͛Ɛ ĐůŝĞŶƚƐ ŝŶĐůƵĚĞĚ ĂĐĂĚĞŵŝĐ ŵĞĚŝĐĂů ĐĞŶƚĞƌƐ͕ ŚĞĂůƚŚ ƐǇƐƚĞŵƐ͕ ĐŽŵŵƵŶŝƚǇ ŚŽƐƉŝƚĂůƐ͕ ŵĞĚŝĐĂů ŐƌŽƵƉƐ͕ ƉĂǇĞƌƐ ĂŶĚ ŶĂƚŝŽŶĂů ƉŚǇƐŝĐŝĂŶ ĐĞƌƚŝĨŝĐĂƚŝŽŶ ŽƌŐĂŶŝǌĂƚŝŽŶƐ͘ ,Ğ ƌĞĐĞŝǀĞĚ ŚŝƐ ďĂĐŚĞůŽƌ͛Ɛ ĚĞŐƌĞĞ ŝŶ ďŝŽĐŚĞŵŝƐƚƌǇ ĨƌŽŵ ĂŶŝƐŝƵƐ ŽůůĞŐĞ͘ ƌ͘ ĂƚƚĂŐůŝĂ ŽďƚĂŝŶĞĚ ŚŝƐ ŵĞĚŝĐĂů ĚĞŐƌĞĞ ĨƌŽŵ ƚŚĞ hŶŝǀĞƌƐŝƚǇ ŽĨ ZŽĐŚĞƐƚĞƌ ^ĐŚŽŽů ŽĨ DĞĚŝĐŝŶĞ ĂŶĚ ĞŶƚŝƐƚƌǇ͘ ,Ğ ĐŽŵƉůĞƚĞĚ ŚŝƐ ƐƉĞĐŝĂůƚǇ ƚƌĂŝŶŝŶŐ ƚŚƌŽƵŐŚ ƚŚĞ hŶŝǀĞƌƐŝƚǇ ŽĨ ZŽĐŚĞƐƚĞƌ͛Ɛ WƌŝŵĂƌǇ ĂƌĞ WƌŽŐƌĂŵ ŝŶ /ŶƚĞƌŶĂů DĞĚŝĐŝŶĞ͘ ƌ͘ ĂƚƚĂŐůŝĂ ŝƐ Ă &ĞůůŽǁ ŽĨ ƚŚĞ ŵĞƌŝĐĂŶ ŽůůĞŐĞ ŽĨ WŚǇƐŝĐŝĂŶƐ͘ Ŷ ĂĐƚŝǀĞ >ŝŽŶƐ ůƵď ŵĞŵďĞƌ͕ ŚĞ ĂůƐŽ ƐĞƌǀĞƐ ŽŶ ƚŚĞ ďŽĂƌĚ ŽĨ ƚƌƵƐƚĞĞƐ ŽĨ ƚŚĞ EĞǁ zŽƌŬ ^ƚĂƚĞ ĂŶĚ ĞƌŵƵĚĂ >ŝŽŶƐ &ŽƵŶĚĂƚŝŽŶ͕ ĂƐ ǁĞůů ĂƐ ƚŚĞ ďŽĂƌĚ ŽĨ ĚŝƌĞĐƚŽƌƐ ŽĨ ƚŚĞ sŝƐŝŽŶ ĞǇŽŶĚ ^ŝŐŚƚ &ŽƵŶĚĂƚŝŽŶ͘

Chima Chionuma, MD Cell Phone: (315) 383-8645 Email: drchimac1@gmail.com

ŚŝŵĂ ŚŝŽŶƵŵĂ͕ D͘ ͕͘ & W͕ , YD͕ ũŽŝŶĞĚ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŝŶ ϮϬϮϬ͘ ^ŚĞ ŝƐ Ă ďŽĂƌĚ ĐĞƌƚŝĨŝĞĚ ƉĞĚŝĂƚƌŝĐŝĂŶ ĂŶĚ ĞǆƉĞƌŝĞŶĐĞĚ ĐůŝŶŝĐŝĂŶ ďĂƐĞĚ ŝŶ ^ǇƌĂĐƵƐĞ͕ Ez͘ ƌ͘ ŚŝŽŶƵŵĂ͛Ɛ ĨŽĐƵƐ ĂƐ Ă ĐůŝŶŝĐĂů ůĞĂĚĞƌ ŝƐ ƚŽ ŝŵƉƌŽǀĞ ŚĞĂůƚŚ ƐĞƌǀŝĐĞƐ ĂŶĚ ĚĞůŝǀĞƌǇ ƐǇƐƚĞŵƐ ǁŝƚŚ Ă ĨŽĐƵƐ ŽŶ ŚĞĂůƚŚĐĂƌĞ ƋƵĂůŝƚǇ ĂŶĚ ƉĂƚŝĞŶƚ ƐĂĨĞƚǇ͘ ^ŚĞ ŚĂƐ ƐƉĞĐŝĂů ŝŶƚĞƌĞƐƚ ŝŶ ĞĨĨŽƌƚƐ ƚŽ ƐƚƌƵĐƚƵƌĞ ŚĞĂůƚŚĐĂƌĞ ƉŽůŝĐǇ ǁŝƚŚ ĂŶ ŽǀĞƌĂƌĐŚŝŶŐ ŐŽĂů ŽĨ ŝŵƉƌŽǀŝŶŐ ŚĞĂůƚŚ ŽƵƚĐŽŵĞƐ͘ ƌ͘ ŚŝŽŶƵŵĂ ŝƐ ŚŝĞĨ ŽĨ ^ĞƌǀŝĐĞ WĞĚŝĂƚƌŝĐƐ ĨŽƌ ^ǇƌĂĐƵƐĞ ŽŵŵƵŶŝƚǇ ,ĞĂůƚŚ ĞŶƚĞƌ͘ WƌŝŽƌ ƚŽ ƚŚŝƐ ƌŽůĞ͕ ƐŚĞ ǁĂƐ ƚŚĞ ŚĞĂůƚŚ ĐĞŶƚĞƌ͛Ɛ ŚŝĞĨ DĞĚŝĐĂů KĨĨŝĐĞƌ͘ ^ŚĞ ŝƐ Ă ĐůŝŶŝĐĂů ĂƐƐŝƐƚĂŶƚ ƉƌŽĨĞƐƐŽƌ ŝŶ ƚŚĞ ĚĞƉĂƌƚŵĞŶƚ ŽĨ ƉĞĚŝĂƚƌŝĐƐ Ăƚ ^hEz hƉƐƚĂƚĞ DĞĚŝĐĂů hŶŝǀĞƌƐŝƚǇ͘ ƌ͘ ŚŝŽŶƵŵĂ ŝƐ Ă &ĞůůŽǁ ŽĨ ƚŚĞ ŵĞƌŝĐĂŶ ĐĂĚĞŵǇ ŽĨ WĞĚŝĂƚƌŝĐƐ ĂŶĚ Ă ŵĞŵďĞƌ ŽĨ ƚŚĞ DĞĚŝĐĂů ^ŽĐŝĞƚǇ ŽĨ ƚŚĞ ^ƚĂƚĞ ŽĨ EĞǁ zŽƌŬ͕ KŶŽŶĚĂŐĂ ŽƵŶƚǇ DĞĚŝĐĂů ^ŽĐŝĞƚǇ ĂŶĚ KŶŽŶĚĂŐĂ ŽƵŶƚǇ WĞĚŝĂƚƌŝĐ ^ŽĐŝĞƚǇ͘ ƌ͘ ŚŝŽŶƵŵĂ ŝƐ Ă ŐƌĂĚƵĂƚĞ ŽĨ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ,ĞĂůƚŚ >ĞĂĚĞƌƐŚŝƉ &ĞůůŽǁƐ ƉƌŽŐƌĂŵ͘ ^ŚĞ ĂŶĚ ŚĞƌ ŚƵƐďĂŶĚ͕ ƌ͘ ,ĞŶƌǇ ŚŝŽŶƵŵĂ͕ ŚĂǀĞ ĨŝǀĞ ĐŚŝůĚƌĞŶ ĂŶĚ Ă ŐƌĂŶĚƐŽŶ͘

ZĂǇŵŽŶĚ ͛ ŐŽƐƟŶŽ Cell: (315) 730-9635 ͲDĂŝů͗ ƌĚĂŐŽƐƚŝŶŽϰϯΛŐŵĂŝů͘ĐŽŵ

ZĂǇŵŽŶĚ Z͘ ͛ ŐŽƐƚŝŶŽ ďĞĐĂŵĞ ŽĨ Ă ŵĞŵďĞƌ ŽĨ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŝŶ ϮϬϭϯ͘ ͛ ŐŽƐƚŝŶŽ ŝƐ Ă ƌĞƚŝƌĞĚ ĂƚƚŽƌŶĞǇ ŚĂǀŝŶŐ ƉƌĂĐƚŝĐĞĚ ŚĞĂůƚŚ ůĂǁ ĨŽƌ ĂůŵŽƐƚ ϰϬ ǇĞĂƌƐ͕ ƚŚĞ ůĂƐƚ ƚǁĞŶƚǇ ŽĨ ǁŚŝĐŚ Ăƚ ƚŚĞ ^ǇƌĂĐƵƐĞͲďĂƐĞĚ ůĂǁ Ĩŝƌŵ ,ĂŶĐŽĐŬ ƐƚĂďƌŽŽŬ͕ >>W͘ WƌŝŽƌ ƚŽ ŚŝƐ ƌĞƚŝƌĞŵĞŶƚ͕ ͛ ŐŽƐƚŝŶŽ ƉƌŽǀŝĚĞĚ Ă ǁŝĚĞ ĂƌƌĂǇ ŽĨ ůĞŐĂů ƐĞƌǀŝĐĞƐ ƚŽ ŚĞĂůƚŚ ĐĂƌĞ ƉƌŽǀŝĚĞƌƐ ĂŶĚ ŽƌŐĂŶŝǌĂƚŝŽŶƐ͕ ŝŶĐůƵĚŝŶŐ ĐŽƌƉŽƌĂƚĞ ƌĞƐƚƌƵĐƚƵƌŝŶŐ͕ ƉƌŝǀĂƚŝǌĂƚŝŽŶ ŽĨ ƉƵďůŝĐ ĨĂĐŝůŝƚŝĞƐ͕ ƉƌŽǀŝĚĞƌ ũŽŝŶƚ ǀĞŶƚƵƌŝŶŐ͕ ƉŚǇƐŝĐŝĂŶ ƌĞĐƌƵŝƚŵĞŶƚ ĂŶĚ ĐŽŶƚƌĂĐƚŝŶŐ͕ ƐƚĂƚĞ ĂŶĚ ĨĞĚĞƌĂů ƌĞŐƵůĂƚŽƌǇ ĐŽŵƉůŝĂŶĐĞ͕ ĂŶĚ ĐŽƵŶƐĞůŝŶŐ ŽŶ ƉĂƚŝĞŶƚ ĐĂƌĞ ĂŶĚ ŵĞĚŝĐĂů ƐƚĂĨĨ ŵĂƚƚĞƌƐ͘ ,Ğ ƐĞƌǀĞĚ ĂƐ ŐĞŶĞƌĂů ĐŽƵŶƐĞů ƚŽ ƐĞǀĞƌĂů ŚŽƐƉŝƚĂůƐ ĂŶĚ ŚĞĂůƚŚ ĐĂƌĞ ĨĂĐŝůŝƚŝĞƐ ŝŶ ĐĞŶƚƌĂů ĂŶĚ ŶŽƌƚŚĞƌŶ EĞǁ zŽƌŬ͘ ͛ ŐŽƐƚŝŶŽ ǁĂƐ Ă ŵĞŵďĞƌ ŽĨ EĞǁ zŽƌŬ ^ƚĂƚĞ Ăƌ ƐƐŽĐŝĂƚŝŽŶ ;,ĞĂůƚŚ >Ăǁ ^ĞĐƚŝŽŶͿ͕ ŵĞƌŝĐĂŶ Ăƌ ƐƐŽĐŝĂƚŝŽŶ ;,ĞĂůƚŚ >Ăǁ ^ĞĐƚŝŽŶͿ͕ ĂŶĚ ƚŚĞ ŵĞƌŝĐĂŶ ,ĞĂůƚŚ >ĂǁǇĞƌƐ ƐƐŽĐŝĂƚŝŽŶ͘ ,Ğ ƐĞƌǀĞĚ ĂƐ :ƵĚŐĞ ĚǀŽĐĂƚĞ ŝŶ ƚŚĞ hŶŝƚĞĚ ^ƚĂƚĞƐ DĂƌŝŶĞ ŽƌƉƐ ĨƌŽŵ ϭϵϲϴ ƚŽ ϭϵϳϭ͘ ͛ ŐŽƐƚŝŶŽ ǁĂƐ ƐĞůĞĐƚĞĚ ĨŽƌ dŚĞ ĞƐƚ >ĂǁǇĞƌƐ ĨŽƌ ,ĞĂůƚŚ >Ăǁ ŝŶ ŵĞƌŝĐĂ ĨƌŽŵ ϭϵϵϱͲϮϬϭϴ ĂŶĚ EĞǁ zŽƌŬͲhƉƐƚĂƚĞ͕ ^ƵƉĞƌ >ĂǁǇĞƌƐ ĨƌŽŵ ϮϬϬϳͲϮϬϭϳ͘ ,Ğ ŝƐ Ă ŵĞŵďĞƌ ŽĨ ƚŚĞ ďŽĂƌĚ ŽĨ ƚƌƵƐƚĞĞƐ ŽĨ ƵďƵƌŶ ŽŵŵƵŶŝƚǇ ,ŽƐƉŝƚĂů͘ ,Ğ ƉƌĞǀŝŽƵƐůǇ ƐĞƌǀĞĚ ĂƐ Ă ŵĞŵďĞƌ ĂŶĚ ƉĂƐƚ ƉƌĞƐŝĚĞŶƚ ŽĨ ƚŚĞ ,ŽƐƉŝĐĞ ŽĨ &ŝŶŐĞƌ >ĂŬĞƐ͕ ,ŽŵĞ ŝĚĞƐ ŽĨ ĞŶƚƌĂů EĞǁ zŽƌŬ ĂŶĚ ƚŚĞ zD ŽĨ 'ƌĞĂƚĞƌ ^ǇƌĂĐƵƐĞ͘ ,Ğ ĂůƐŽ ƐĞƌǀĞĚ ĂƐ Ă ŵĞŵďĞƌ ŽĨ ƚŚĞ ŽĂƌĚ ŽĨ ŝƌĞĐƚŽƌƐ ŽĨ ƚŚĞ ŽŵŵŽŶƐ ŽŶ ^ƚ͘ ŶƚŚŽŶǇ͕ Ă ŶƵƌƐŝŶŐ ŚŽŵĞ ŝŶ ƵďƵƌŶ͕ Ez͘ ͛ ŐŽƐƚŝŶŽ ŝƐ Ă ŐƌĂĚƵĂƚĞ ŽĨ ƚŚĞ ^ƚĂƚĞ hŶŝǀĞƌƐŝƚǇ ŽĨ EĞǁ zŽƌŬ Ăƚ ŝŶŐŚĂŵƚŽŶ ĂŶĚ ƚŚĞ ^ǇƌĂĐƵƐĞ hŶŝǀĞƌƐŝƚǇ ŽůůĞŐĞ ŽĨ >Ăǁ͕ ǁŚĞƌĞ ŚĞ ǁĂƐ Ă ŵĞŵďĞƌ ŽĨ ƚŚĞ >Ăǁ ZĞǀŝĞǁ ĂŶĚ :ƵƐƚŝŶŝĂŶ ,ŽŶŽƌ ^ŽĐŝĞƚǇ͘ ,Ğ ŝƐ Ă ƌĞƐŝĚĞŶƚ ŽĨ ƵďƵƌŶ͕ Ez͘

Andrew W. Dorn ,ŽŵĞ WŚŽŶĞ͗ ;ϳϭϲͿ ϴϯϵͲϰϰϮϬ Ğůů͗ ;ϳϭϲͿ ϲϳϮͲϵϴϵϬ ͲDĂŝů͗ ŶĚƌĞǁ͘ĚŽƌŶΛĞŶƐŽůĐŽŶƐŽƌƚŝƵŵ͘ĐŽŵ ŶĚƌĞǁ ŽƌŶ ũŽŝŶĞĚ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŝŶ ϮϬϭϴ͘ ŽƌŶ ŝƐ ŚĂŝƌŵĂŶ͕ ŽĂů ƐŚ ZĞĐǇĐůŝŶŐ͕ >> ͕ Ă ƉƌŝǀĂƚĞ ĐŽŵƉĂŶǇ ĨŽĐƵƐĞĚ ŽŶ ƚŚĞ ďĞŶĞĨŝĐŝĂů ƌĞƵƐĞ ŽĨ ĐŽĂů ĂƐŚ ƚŽ ŵĂŬĞ ůŽǁĞƌ ĐĂƌďŽŶ ͞ŐƌĞĞŶ͟ ĐŽŶĐƌĞƚĞ͕ Ă ƉŽƐŝƚŝŽŶ ŚĞ ŚĂƐ ŚĞůĚ ƐŝŶĐĞ ϮϬϮϭ͘ WƌĞǀŝŽƵƐůǇ ŚĞ ǁĂƐ Ă ƉĂƌƚŶĞƌ ŝŶ ŶĞƌŐǇ ^ŽůƵƚŝŽŶƐ ŽŶƐŽƌƚŝƵŵ͕ >> ͕ Ă ƐŝŶŐůĞ ƉƵƌƉŽƐĞ ĞŶƚŝƚǇ ĞŶŐĂŐĞĚ ŝŶ ĚĞǀĞůŽƉŝŶŐ ŶĂƚƵƌĂů ŐĂƐ ĨŝƌĞĚ ƉŽǁĞƌ ƉůĂŶƚƐ ŝŶ tĞƐƚ sŝƌŐŝŶŝĂ ĂŶĚ WĞŶŶƐǇůǀĂŶŝĂ͘ ,Ğ ǁĂƐ Ă ŵĂŶĂŐŝŶŐ ŵĞŵďĞƌ ŽĨ DŽƵŶĚƐǀŝůůĞ WŽǁĞƌ >> ͕ ĂŶĚ ĐŚĂŝƌŵĂŶ ŽĨ ƚŚĞ ďŽĂƌĚ ĂŶĚ ĐŚŝĞĨ ĨŝŶĂŶĐŝĂů ŽĨĨŝĐĞƌ ŽĨ ĞŵĂŶĚ ZĞƐƉŽŶƐĞ WĂƌƚŶĞƌƐ͕ /ŶĐ͘ ŽƌŶ ǁĂƐ ƚŚĞ ƉƌĞƐŝĚĞŶƚ ĂŶĚ ĐŚŝĞĨ ŝŶǀĞƐƚŵĞŶƚ ŽĨĨŝĐĞƌ ŽĨ ,ƵŶƚĞƌǀŝĞǁ >> ͕ Ă ƉƌŝǀĂƚĞ ŝŶǀĞƐƚŵĞŶƚ ĐŽŵƉĂŶǇ ƐƉĞĐŝĂůŝǌŝŶŐ ŝŶ ĨŝǆĞĚ ŝŶĐŽŵĞ ŵĂŶĂŐĞŵĞŶƚ͘ WƌŝŽƌ ƚŽ ƚŚĂƚ͕ ŚĞ ůĞĚ ƚŚĞ ĨŽƌŵĂƚŝŽŶ ŽĨ 'ƌĞĂƚ >ĂŬĞƐ ĂŶĐŽƌƉ͕ ƚŚĞ ƉĂƌĞŶƚ ĐŽŵƉĂŶǇ ŽĨ ƚŚĞ 'ƌĞĂƚĞƌ ƵĨĨĂůŽ ^ĂǀŝŶŐƐ ĂŶŬ͕ ǁŚĞƌĞ ŚĞ ƐĞƌǀĞĚ ĂƐ ŝƚƐ ƉƌĞƐŝĚĞŶƚ ĂŶĚ ĐŚŝĞĨ ĞǆĞĐƵƚŝǀĞ ŽĨĨŝĐĞƌ͘ ŽƌŶ ĂĚĚŝƚŝŽŶĂůůǇ ĨŽƵŶĚĞĚ :ĂŵĞƐƚŽǁŶ ^ĂǀŝŶŐƐ ĂŶŬ͕ ǁŚĞƌĞ ŚĞ ǁĂƐ ƉƌĞƐŝĚĞŶƚ ĂŶĚ ĐŚŝĞĨ ĞǆĞĐƵƚŝǀĞ ŽĨĨŝĐĞƌ͘ ,Ğ ƌĞĐĞŝǀĞĚ ŚŝƐ ďĂĐŚĞůŽƌ͛Ɛ ĚĞŐƌĞĞ ĨƌŽŵ ƚŚĞ ^ƚĂƚĞ hŶŝǀĞƌƐŝƚǇ ŽĨ EĞǁ zŽƌŬ Ăƚ ƵĨĨĂůŽ͕ ĂŶĚ ŚŝƐ DĂƐƚĞƌ ŽĨ ƵƐŝŶĞƐƐ ĚŵŝŶŝƐƚƌĂƚŝŽŶ ĚĞŐƌĞĞ ĨƌŽŵ ĂŶŝƐŝƵƐ ŽůůĞŐĞ͘ ŽƌŶ ŝƐ ĐƵƌƌĞŶƚůǇ Ă ŵĞŵďĞƌ ŽĨ ƚŚĞ ŽĂƌĚ ŽĨ ŝƌĞĐƚŽƌƐ ĨŽƌ &ŝŶĂŶĐŝĂů /ŶƐƚŝƚƵƚŝŽŶƐ͕ /ŶĐ͘ ĂŶĚ ƚŚĞ tĞƐƚĞƌŶ EĞǁ zŽƌŬ &ŽƵŶĚĂƚŝŽŶ͘ ,Ğ ŝƐ ƉĂƐƚ ĐŚĂŝƌ ŽĨ ͛zŽƵǀŝůůĞ ŽůůĞŐĞ ĂŶĚ ŵĞŵďĞƌ ŽĨ ƚŚĞ ŝŶǀĞƐƚŵĞŶƚ ĐŽŵŵŝƚƚĞĞƐ ŽĨ ^ŝƐƚĞƌƐ ŽĨ ŚĂƌŝƚǇ ,ŽƐƉŝƚĂů͖ ͛zŽƵǀŝůůĞ ŽůůĞŐĞ͖ ^ƚ͘ :ŽƐĞƉŚ͛Ɛ ŽůůĞŐŝĂƚĞ /ŶƐƚŝƚƵƚĞ ĂŶĚ ƚŚĞ EŽƌƚŚĞƌŶ ŚĂƵƚĂƵƋƵĂ ŽŵŵƵŶŝƚǇ &ŽƵŶĚĂƚŝŽŶ͘

Angela M. Douglas Phone: (315) 399-2471 Email: amdmessenger@gmail.com ŶŐĞůĂ D͘ ŽƵŐůĂƐ ĐƵƌƌĞŶƚůǇ ƐĞƌǀĞƐ ĂƐ ƚŚĞ ŽͲ ǆĞĐƵƚŝǀĞ ŝƌĞĐƚŽƌ ŽĨ sĞƌĂ ,ŽƵƐĞ͕ Ă ^ǇƌĂĐƵƐĞͲďĂƐĞĚ ǀŝĐƚŝŵ ƐĞƌǀŝĐĞƐ ĂŐĞŶĐǇ ĐŽǀĞƌŝŶŐ Ăůů ŽĨ KŶŽŶĚĂŐĂ ŽƵŶƚǇ ǁŝƚŚŝŶ EĞǁ zŽƌŬ ^ƚĂƚĞ͘ sĞƌĂ ,ŽƵƐĞ ŚĂƐ ĞǆŝƐƚĞĚ ĨŽƌ ŵŽƌĞ ƚŚĂŶ ϰϬ ǇĞĂƌƐ ǁŝƚŚ Ă ŵŝƐƐŝŽŶ ƚŽ ƉƌĞǀĞŶƚ͕ ƌĞƐƉŽŶĚ ĂŶĚ ƉĂƌƚŶĞƌ ƚŽ ĞŶĚ ĚŽŵĞƐƚŝĐ ĂŶĚ ƐĞǆƵĂů ǀŝŽůĞŶĐĞ ĂƐ ǁĞůů ĂƐ ŽƚŚĞƌ ĨŽƌŵƐ ŽĨ ĂďƵƐĞ͘ ŶŐĞůĂ͛Ɛ ƉƌŝŵĂƌǇ ǁŽƌŬ ǁŝƚŚ sĞƌĂ ,ŽƵƐĞ ŝƐ ĐĞŶƚĞƌĞĚ ŝŶ ůĞĂĚŝŶŐ ƐƚƌĂƚĞŐŝĐ ƉůĂŶŶŝŶŐ ĂŶĚ ĞǆĞĐƵƚŝŽŶ͕ ŽƌŐĂŶŝǌĂƚŝŽŶĂůͬůĞĂĚĞƌƐŚŝƉ ĚĞǀĞůŽƉŵĞŶƚ ĂŶĚ ĐŚĂŶŐĞ ŵĂŶĂŐĞŵĞŶƚ ƚŽ ŝŶĐƌĞĂƐĞ ĐĂƉĂĐŝƚǇ ĂŶĚ ĚĞĐŽŶƐƚƌƵĐƚ ƐŽĐŝĂů ŶŽƌŵƐ ƚŚĂƚ ŵĂŝŶƚĂŝŶ ƐĞǆƵĂů ĂƐƐĂƵůƚ͕ ĚŽŵĞƐƚŝĐ ǀŝŽůĞŶĐĞ ĂŶĚ ŽƉƉƌĞƐƐŝŽŶ͕ ǁŚŝůĞ ĂĚǀŽĐĂƚŝŶŐ ĨŽƌ ƐǇƐƚĞŵŝĐ ĐŚĂŶŐĞ͘ ^ŚĞ ǁŽƌŬƐ ĨƌŽŵ ƚŚĞ ƵŶĚĞƌƐƚĂŶĚŝŶŐ ƚŚĂƚ ƚƌƵĞ ƐƵĐĐĞƐƐ͕ ŝŶĨůƵĞŶĐĞ ĂŶĚ ŝŵƉĂĐƚ ǁŝůů ŶŽƚ ŽĐĐƵƌ ǁŝƚŚŽƵƚ ƚŚĞ ƉƵƌƐƵŝƚ ŽĨ ŚĞĂůŝŶŐ ĂŶĚ ǁŚŽůĞŶĞƐƐ ŝŶ ŽƵƌ ƐŽƵůƐ͕ ƌĞůĂƚŝŽŶƐŚŝƉƐ ĂŶĚ ŽǀĞƌĂůů ůŝĨĞ͘ ^ŚĞ ďĞůŝĞǀĞƐ ƚŚĂƚ ĚŽŝŶŐ ƚŚĞ ƌĞƋƵŝƌĞĚ ƉĞƌƐŽŶĂů ǁŽƌŬ ǁŝůů ŵĂŬĞ ƚŚĞ ŐƌĞĂƚĞƐƚ ƉƌŽĨĞƐƐŝŽŶĂů ĂŶĚ ĐŽŵŵƵŶŝƚǇ ŝŵƉĂĐƚ͘ ŶŐĞůĂ ŚĂƐ ĚŝǀĞƌƐĞ ĐĂƌĞĞƌ ĞǆƉĞƌŝĞŶĐĞ ŝŶ ĞĚƵĐĂƚŝŽŶ͕ ũƵǀĞŶŝůĞ ũƵƐƚŝĐĞ͕ ĂůƚĞƌŶĂƚŝǀĞ ĚŝƐƉƵƚĞ ƌĞƐŽůƵƚŝŽŶ͕ ŶŽŶƉƌŽĨŝƚ ůĞĂĚĞƌƐŚŝƉ͕ ĂŶĚ ĞŶƚƌĞƉƌĞŶĞƵƌƐŚŝƉ͘ ŶŐĞůĂ ŚĂƐ ďĞĞŶ ĚĞƐŝŐŶŝŶŐ ĐƵƌƌŝĐƵůĂ͕ ƚƌĂŝŶŝŶŐ ĂŶĚ ĞĚƵĐĂƚŝŽŶĂů ƉƌŽŐƌĂŵƐ ĨŽƌ ŵŽƌĞ ƚŚĂŶ ϯϬ ǇĞĂƌƐ͘ ^ŚĞ ŚŽůĚƐ ƐĞǀĞƌĂů ƚƌĂŝŶŝŶŐ ĐĞƌƚŝĨŝĐĂƚŝŽŶƐ ĂŶĚ ŝƐ Ă ƐŽƵŐŚƚͲĂĨƚĞƌ ƐƉĞĂŬĞƌ ĚƵĞ ƚŽ ŚĞƌ ĚǇŶĂŵŝĐ ĂŶĚ ĞŶŐĂŐŝŶŐ ƐƚǇůĞ͘ ŶŐĞůĂ ŝƐ ĂďůĞ ƚŽ ƚĂŬĞ ĚŝĨĨŝĐƵůƚ ĐŽŶĐĞƉƚƐ ĂŶĚ ďƌŝŶŐ ƚŚĞŵ ŝŶƚŽ ƌĞůĞǀĂŶĐĞ ǁŝƚŚ ŚƵŵŽƌ ĂŶĚ ƐŝŵƉůŝĐŝƚǇ͘ ŶŐĞůĂ ŚĂƐ ĂůƐŽ ďĞĞŶ Ă ĐŽŶƐƵůƚĂŶƚ ĨŽƌ ŽǀĞƌ Ϯϱ ǇĞĂƌƐ ƉƌŽǀŝĚŝŶŐ ŝŶĨƌĂƐƚƌƵĐƚƵƌĞ ĂŶĚ ƉƌŽŐƌĂŵ ĚĞƐŝŐŶ͕ ĐĂƉĂĐŝ-ƚǇ ďƵŝůĚŝŶŐ͕ ďŽĂƌĚ ĚĞǀĞůŽƉŵĞŶƚ ĂŶĚ ůĞĂĚĞƌƐŚŝƉ ǁŝƚŚ ŐƌĂƐƐƌŽŽƚƐ͕ ƚŚƌŽƵŐŚ ŵĂƚƵƌĞ ŽƌŐĂŶŝǌĂƚŝŽŶƐ͘ ^ŚĞ ŚĂƐ Ă ƉĂƌƚŝĐƵůĂƌ ƚĂůĞŶƚ ĂŶĚ ŐŝĨƚ ĨŽƌ ƚƵƌŶŝŶŐ ĂƌŽƵŶĚ ŽƌŐĂŶŝǌĂƚŝŽŶƐ ŝŶ ĚĞĐůŝŶĞ͘ ŶŐĞůĂ ƐĞƌǀĞƐ ŽŶ ƚŚĞ ďŽĂƌĚƐ ŽĨ EĞǁ :ƵƐƚŝĐĞ ^ĞƌǀŝĐĞƐ͕ ĂŶĐĞƌ ŽŶŶĞĐƚƐ ĂŶĚ ůůŝĂŶĐĞ ŽĨ ŽŵŵƵŶŝƚŝĞƐ dƌĂŶƐĨŽƌŵŝŶŐ ^ǇƌĂĐƵƐĞ͘ &ĂŝƚŚͲďĂƐĞĚ ŽƌŐĂŶŝǌŝŶŐ ƚŽ ŝŵƉĂĐƚ ƐŽĐŝĂů ũƵƐƚŝĐĞ ŝƐ ĐƌŝƚŝĐĂů͕ ĂŶĚ Ă ĚĞĞƉ ĐĂůůŝŶŐ ĂŶĚ ƚŚĞ ůůŝĂŶĐĞ ǁŽƌŬƐ ƚŽ ƐĞĞ ĞƋƵŝƚǇ ĂŶĚ ũƵƐƚŝĐĞ ďĞ ƚĂŶŐŝďůĞ ŝŶ ƚŚĞ ďĞůŽǀĞĚ ĐŽŵŵƵŶŝƚǇ͘ ŶŐĞůĂ ĐŽŶƚŝŶƵĞƐ ƚŽ ĐŚĂŵƉŝŽŶ ĂŶĚ ĐĂůů ĨŽƌ ĂĐĐŽƵŶƚĂďŝůŝƚǇ ĂŵŽŶŐ ĚŽŵŝŶĂŶƚ ĐƵůƚƵƌĞ ŽƌŐĂŶŝǌĂƚŝŽŶƐ ĂŶĚ ƐǇƐƚĞŵƐ ƚŽ ďĞ Ă ĐĂƚĂůǇƐƚ ĨŽƌ ŚĞĂůŝŶŐ ĂŶĚ ƚƌĂŶƐĨŽƌŵĂƚŝŽŶ ŝŶ ƚŚĞ ůŝǀĞƐ ŽĨ ƚŚŽƐĞ ƚŚĞǇ ŚĂǀĞ ĐŽŵŵŝƚƚĞĚ ƚŽ ƐĞƌǀĞ͘ ŶŐĞůĂ ŝĚĞŶƚŝĨŝĞƐ ĂƐ Ă ǀŝĐƚŝŵͬƐƵƌǀŝǀŽƌ ĂŶĚ ŝƐ ƉĂƐƐŝŽŶĂƚĞ ĂďŽƵƚ ŽŶĞ͛Ɛ ĂďŝůŝƚǇ ƚŽ ƌĞĐůĂŝŵ ƚŚĞŝƌ ůŝĨĞ ĂŶĚ ŚĞĂů ĨƌŽŵ ƚƌĂƵŵĂ ĂŶĚ ĂďƵƐĞ͘ tŝƚŚ ƚŚŝƐ ƉĂƐƐŝŽŶ͕ ƐŚĞ ĂůƐŽ ƐĞƌǀĞƐ ĂƐ ƚŚĞ ŚĂŝƌ ŽĨ ƚŚĞ ^ƵƌǀŝǀŽƌƐ EĞƚǁŽƌŬ ƚŚĂƚ ĚĞƚĞƌŵŝŶĞƐ ƚŽ ƉƌŽǀŝĚĞ ǀŽŝĐĞ͕ ƉƌĞƐĞŶĐĞ͕ ĂŶĚ ĂĐƚŝŽŶ ĨŽƌ Ăůů ŽĨ ƚŚŽƐĞ ƚŚĂƚ ŚĂǀĞ ĞǆƉĞƌŝĞŶĐĞĚ ƐĞǆƵĂů͕ ĚŽŵĞƐƚŝĐ ĂŶĚ ŽƚŚĞƌ ĨŽƌŵƐ ŽĨ ǀŝŽůĞŶĐĞ͘ ^ŚĞ ƌĞĐĞŝǀĞĚ ƚŚĞ DŝĐŚĞůĞ ďĚƵů ^ĂďƵƌ ǆĞŵƉůĂƌǇ ^ĞƌǀŝĐĞ ǁĂƌĚ ĨƌŽŵ EŽƌƚŚƐŝĚĞ >ĞĂƌŶŝŶŐ ĞŶƚĞƌ ŝŶ ϮϬϮϭ͕ ĂŶĚ ƚŚĞ ŽŵŵƵŶŝƚǇ ƵŝůĚĞƌ ǁĂƌĚ ʹ Z/^ ;ZĞĨƵŐĞĞ /ŵŵŝŐƌĂŶƚ ^ĞůĨ ŵƉŽǁĞƌŵĞŶƚͿ ŝŶ ƐƉƌŝŶŐ 2022.

Leanne Fiscoe, CPA, CGMA, FLMI Home Phone: (315) 468-3150 Cell: (315) 436-9220 E-Mail: lhughes@twcny.rr.com >ĞĂŶŶĞ &͘ &ŝƐĐŽĞ ďĞĐĂŵĞ Ă ŵĞŵďĞƌ ŽĨ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŝŶ ϮϬϭϲ ĂŶĚ ŚĂƐ ƐĞƌǀĞĚ ŽŶ ƐĞǀĞƌĂů ĞŶƚƌĂů EĞǁ zŽƌŬ ŶŽƚͲĨŽƌͲƉƌŽĨŝƚ ďŽĂƌĚƐ͘ &ŝƐĐŽĞ ŝƐ ƚŚĞ ĨŽƌŵĞƌ ƐĞŶŝŽƌ ǀŝĐĞ ƉƌĞƐŝĚĞŶƚ ŽĨ ĐŽŵƉůŝĂŶĐĞ ĂŶĚ ŝŶƚĞŐƌĂƚĞĚ ƐŽůƵƚŝŽŶƐ ĨŽƌ sŝƌŐŝŶŝĂ &Ăƌŵ ƵƌĞĂƵ /ŶƐƵƌĂŶĐĞ 'ƌŽƵƉ͕ Ă ƉƌŽƉĞƌƚǇͬĐĂƐƵĂůƚǇ ŝŶƐƵƌĂŶĐĞ ŐƌŽƵƉ ŽƉĞƌĂƚŝŶŐ ŝŶ Ă ϭϬͲƐƚĂƚĞ ŵĂƌŬĞƚ ĂƌĞĂ͘ ^ŚĞ ǁĂƐ ƉƌĞǀŝŽƵƐůǇ ǁŝƚŚ ŽƵŶƚƌǇǁĂǇ /ŶƐƵƌĂŶĐĞ ŽŵƉĂŶǇ͕ ǁŚĞƌĞ ƐŚĞ ǁĂƐ ƐĞŶŝŽƌ ǀŝĐĞ ƉƌĞƐŝĚĞŶƚ ŽĨ ŽƉĞƌĂƚŝŽŶƐ ĂŶĚ Ă ŵĞŵber of the board of directors. ^ŚĞ ŚŽůĚƐ Ă ďĂĐŚĞůŽƌ͛Ɛ ĚĞŐƌĞĞ ŝŶ ĂĐĐŽƵŶƚŝŶŐ ǁŝƚŚ Ă ĐŽŵƉƵƚĞƌ ƐĐŝĞŶĐĞ ŵŝŶŽƌ ĨƌŽŵ >ĞDŽǇŶĞ ŽůůĞŐĞ͕ ĂŶĚ ƌĞĐĞŝǀĞĚ ĂŶ D hƉŐƌĂĚĞ ĞƌƚŝĨŝĐĂƚĞ ĨƌŽŵ ^ǇƌĂĐƵƐĞ hŶŝǀĞƌƐŝƚǇ͘ &ŝƐĐŽĞ ƌĞĐĞŝǀĞĚ ƚŚĞ tŽŵĞŶ ŝŶ ƵƐŝŶĞƐƐ ǁĂƌĚ ŝŶ ϮϬϬϱ͕ ĂŶĚ ŝƐ ĂŶ /ŶĚŝĂŶĂ &Ăƌŵ ƵƌĞĂƵ /ŶƐƵƌĂŶĐĞ >ĞĂĚĞƌƐŚŝƉ Academy graduate. ^ŚĞ ŝƐ Ă ƌĞƐŝĚĞŶƚ ŽĨ ĂŵŝůůƵƐ͕ EĞǁ zŽƌŬ ǁŝƚŚ ŚĞƌ ŚƵƐďĂŶĚ dŽŵ͘

Carrie Frank Treasurer Home Phone: (716) 568-0063 Cell: (716) 597-8198 E-Mail: carriefrank@aol.com ĂƌƌŝĞ &ƌĂŶŬ ũŽŝŶĞĚ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŝŶ ϮϬϭϱ͘ ^ŚĞ ǁĂƐ ĞůĞĐƚĞĚ ƚƌĞĂƐƵƌĞƌ ŝŶ ϮϬϮϭ͘ &ƌĂŶŬ ŝƐ Ă ƌĞƚŝƌĞĚ ŚĞĂůƚŚĐĂƌĞ ĞǆĞĐƵƚŝǀĞ ĂŶĚ ƉĂƌƚͲƚŝŵĞ ĐŽŶƐƵůƚĂŶƚ͘ DŽƐƚ ƌĞĐĞŶƚůǇ ƐŚĞ ŚĞůĚ ƚŚĞ ƉŽƐŝƚŝŽŶ ŽĨ ǀŝĐĞ ƉƌĞƐŝĚĞŶƚ ŽĨ ƋƵĂůŝƚǇ ĂŶĚ ŚĞĂůƚŚ ŝŶĨŽƌŵĂƚŝĐƐ ĨŽƌ ǆĐĞůůƵƐ ůƵĞ ƌŽƐƐ ůƵĞ^ŚŝĞůĚ͘ ,Ğƌ ƌĞƐƉŽŶƐŝďŝůŝƚŝĞƐ ŝŶĐůƵĚĞĚ ůĞĂĚŝŶŐ ŚĞĂůƚŚ ƉůĂŶ ƉƌŽŐƌĂŵƐ ƚŽ ŝŵƉƌŽǀĞ ƚŚĞ ƋƵĂůŝƚǇ ĂŶĚ ĂĨĨŽƌĚĂďŝůŝƚǇ ŽĨ ŚĞĂůƚŚĐĂƌĞ ĨŽƌ ǆĐĞůůƵƐ ůƵĞ ƌŽƐƐ ůƵĞ ^ŚŝĞůĚ ŵĞŵďĞƌƐ ĂŶĚ ŝƚƐ ĐŽŵŵƵŶŝƚŝĞƐ ďǇ ǁŽƌŬŝŶŐ ǁŝƚŚ ƉƌŽǀŝĚĞƌƐ͕ ŵĞŵďĞƌƐ ĂŶĚ ĞŵƉůŽǇĞƌ ŐƌŽƵƉƐ͘ ^ŚĞ ĂůƐŽ ŽǀĞƌƐĂǁ ,ĞĂůƚŚ /ŶĨŽƌŵĂƚŝĐƐ͕ ǁŚŝĐŚ ƵƚŝůŝǌĞĚ ĐůĂŝŵƐ ĂŶĚ ŽƚŚĞƌ ĚĂƚĂ ƚŽ ĚĞůŝǀĞƌ ĂĐƚŝŽŶĂďůĞ ŝŶĨŽƌŵĂƚŝŽŶ ƚŽ ƐƵƉƉŽƌƚ ƚŚĞ ,ĞĂůƚŚ WůĂŶ͛Ɛ ƉƌŽŐƌĂŵƐ ƚŚĂƚ ŵĂŶĂŐĞ ŵĞŵďĞƌ ŚĞĂůƚŚ ĂŶĚ ĐŽƐƚ ƚƌĞŶĚƐ͘ /Ŷ ĂĚĚŝƚŝŽŶ͕ ƐŚĞ ǁĂƐ ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ĂĐĐƌĞĚŝƚĂƚŝŽŶ ĂŶĚ ĞŵƉůŽǇĞƌ ŚĞĂůƚŚ ĂŶĚ ǁĞůůŶĞƐƐ ƉƌŽŐƌĂŵƐ͘ &ƌĂŶŬ ŚĂƐ ĞǆƚĞŶƐŝǀĞ ĞǆƉĞƌŝĞŶĐĞ ŝŶ ƉƌŽǀŝĚĞƌ ŽƉĞƌĂƚŝŽŶƐ ĂŶĚ ƉĞƌĨŽƌŵĂŶĐĞ ŝŵƉƌŽǀĞŵĞŶƚ͘ WƌĞǀŝŽƵƐůǇ͕ ƐŚĞ ǁĂƐ ƚŚĞ ĞǆĞĐƵƚŝǀĞ ǀŝĐĞ ƉƌĞƐŝĚĞŶƚ ĂŶĚ ĐŚŝĞĨ ŽƉĞƌĂƚŝŶŐ ŽĨĨŝĐĞƌ ĨŽƌ <ĂůĞŝĚĂ ,ĞĂůƚŚ͕ ĂŶĚ ǁĂƐ KK ĂŶĚ ĐŚŝĞĨ ĨŝŶĂŶĐŝĂů ŽĨĨŝĐĞƌ Ăƚ ƵĨĨĂůŽ 'ĞŶĞƌĂů ,ŽƐƉŝƚĂů͘ ^ŚĞ ŚĂƐ Ă ůŽŶŐ ĂŶĚ ĚŝƐƚŝŶŐƵŝƐŚĞĚ ĐĂƌĞĞƌ ŝŶ ŝŵƉƌŽǀŝŶŐ ƚŚĞ ŚĞĂůƚŚ ŽĨ ƚŚĞ ǁĞƐƚĞƌŶ EĞǁ zŽƌŬ ĐŽŵŵƵŶŝƚǇ ŝŶĐůƵĚŝŶŐ ĂĐĐŽŵƉůŝƐŚŵĞŶƚƐ ŝŶ ƚŚĞ ĂƌĞĂ ŽĨ ŵĞƌŐĞƌ ŝŶƚĞŐƌĂƚŝŽŶ͕ ƐƚƌĂƚĞŐǇ ĚĞǀĞůŽƉŵĞŶƚ͕ ƋƵĂůŝƚǇ ŝŵƉƌŽǀĞŵĞŶƚ͕ ŝŶĨŽƌŵĂƚŝŽŶ ƐǇƐƚĞŵƐ ĚĞǀĞůŽƉŵĞŶƚ͕ ƉŚǇƐŝĐŝĂŶ ĐŽůůĂďŽƌĂƚŝŽŶ͕ ƉƌŽĨŝƚĂďŝůŝƚǇ ŝŵƉƌŽǀĞŵĞŶƚ ĂŶĚ ĐĂƉŝƚĂů ĨŽƌŵĂƚŝŽŶ͘ &ƌĂŶŬ ŚĂƐ ƐĞƌǀĞĚ ĂƐ ĐŚĂŝƌ ŽĨ ƚŚĞ tĞƐƚĞƌŶ EĞǁ zŽƌŬ ,ĞĂůƚŚĐĂƌĞ ƐƐŽĐŝĂƚŝŽŶ ŽĂƌĚ ĂŶĚ ĐŚĂŝƌ ŽĨ ďŽƚŚ ƚŚĞ ƋƵĂůŝƚǇ ĂŶĚ ƚŚĞ ĨŝŶĂŶĐĞ ĐŽŵŵŝƚƚĞĞƐ ĨŽƌ , Ez^͘ ƌĞĐŽŐŶŝǌĞĚ ĐŽŵŵƵŶŝƚǇ ůĞĂĚĞƌ͕ ƐŚĞ ŝƐ ƚŚĞ ƌĞĐŝƉŝĞŶƚ ŽĨ ƚŚĞ ƵĨĨĂůŽ ƵƐŝŶĞƐƐ &ŝƌƐƚ ϰϬ ƵŶĚĞƌ ϰϬ ǁĂƌĚ ĂŶĚ ƚŚĞ ŝƐƚŝŶŐƵŝƐŚĞĚ ůƵŵŶŝ ǁĂƌĚ ĨƌŽŵ ĂŶŝƐŝƵƐ ŽůůĞŐĞ͘ &ƌĂŶŬ ƌĞĐĞŝǀĞĚ Ă ďĂĐŚĞůŽƌ ŽĨ ƐĐŝĞŶĐĞ ŝŶ ĂĐĐŽƵŶƚŝŶŐ ĨƌŽŵ ĂŶŝƐŝƵƐ ŽůůĞŐĞ͘ ^ŚĞ ĂŶĚ ŚĞƌ ŚƵƐďĂŶĚ͕ ĂǀŝĚ͕ ƌĞƐŝĚĞ ŝŶ 'ĞƚǌǀŝůůĞ͕ Ez ĂŶĚ ŚĂǀĞ ƚǁŽ ĐŚŝůĚƌĞŶ͘

Arthur Goshin Advisor Ğůů WŚŽŶĞ͗ ;ϳϭϲͿ ϯϭϵͲϳϬϰϱ ͲDĂŝů͗ ĂŐŽƐŚŝŶϭΛŐŵĂŝů͘ĐŽŵ ƌƚŚƵƌ Z͘ 'ŽƐŚŝŶ͕ D͘ ͕͘ D͘W͘,͕ ǁĂƐ Ă ƉƌŝŶĐŝƉĂů ĨŽƵŶĚĞƌ ŽĨ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ĨŽƌ tĞƐƚĞƌŶ ĂŶĚ ĞŶƚƌĂů EĞǁ zŽƌŬ͘ ĞĨŽƌĞ ďĞĐŽŵŝŶŐ Ă ƚƌƵƐƚĞĞ ŝŶ ϮϬϬϴ ŚĞ ƐĞƌǀĞĚ ĂƐ ŝƚƐ ĂĚǀŝƐŽƌ ĨƌŽŵ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ŝŶĐĞƉƚŝŽŶ͕ ŚĞůƉŝŶŐ ƚŽ ƐŚĂƉĞ ƚŚĞ ŵŝƐƐŝŽŶ ĂŶĚ ĚŝƌĞĐƚŝŽŶ ŽĨ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͘ 'ŽƐŚŝŶ ŚĂĚ ŽǀĞƌ Ă ϰϱͲǇĞĂƌ ĐĂƌĞĞƌ ŝŶ ƚŚĞ ĚĞǀĞůŽƉŵĞŶƚ ŽĨ ĐŽŵŵƵŶŝƚǇ ďĂƐĞĚ͕ ŶŽƚͲĨŽƌͲƉƌŽĨŝƚ ŚĞĂůƚŚ ĐĂƌĞ ŝŶcluding the development of health centers in neighborhoods of poverty and the successful development of ůĂƌŐĞ ŚĞĂůƚŚ ŵĂŝŶƚĞŶĂŶĐĞ ŽƌŐĂŶŝǌĂƚŝŽŶͬŵĂŶĂŐĞĚ ĐĂƌĞ ƉƌŽŐƌĂŵƐ͘ ,Ğ ŚĂƐ ŚĂĚ Ă ƌĞůĂƚŝŽŶƐŚŝƉ ǁŝƚŚ ƚŚĞ hŶŝǀĞƌƐŝƚǇ Ăƚ ƵĨĨĂůŽ ĨŽƌ ϱϲ ǇĞĂƌƐ͕ ĨŝƌƐƚ ĂƐ ĂŶ ƵŶĚĞƌŐƌĂĚƵĂƚĞ ĂŶĚ ŵĞĚŝcal student, followed by being member of the faculty. Goshin is now a clinical professor within the School ŽĨ WƵďůŝĐ ,ĞĂůƚŚ ĂŶĚ ,ĞĂůƚŚ WƌŽĨĞƐƐŝŽŶƐ͘ ,Ğ ŝƐ ĂůƐŽ ƚŚĞ ƌĞĐŝƉŝĞŶƚ ŽĨ ƚŚĞ hŶŝǀĞƌƐŝƚǇ͛Ɛ ŝƐƚŝŶŐƵŝƐŚĞĚ ůƵŵŶŝ Award. ^ŝŶĐĞ ϮϬϬϲ͕ 'ŽƐŚŝŶ ŚĂƐ ŚĂĚ ŚŝƐ ŽǁŶ ĨŽƵŶĚĂƚŝŽŶ ǁŚŝĐŚ ĨƵŶĚƐ ĂŶĚ ƐƵƉƉŽƌƚƐ ƐĞǀĞƌĂů ǀŝůůĂŐĞͲ ďĂƐĞĚ ŚĞĂůƚŚ ƉƌŽŐƌĂŵƐ Ăƚ ĂŶǇ ƉŽŝŶƚ ŝŶ ƚŝŵĞ ŝŶ hŐĂŶĚĂ ĂŶĚ /ŶĚŝĂ͘ ,Ğ ĂůƐŽ ůĞĚ ƚŚĞ ĐƌĞĂƚŝŽŶ ŽĨ ƚŚĞ ŐůŽďĂů ŚĞĂůƚŚ ƉƌŽŐƌĂŵƐ Ăƚ ƚŚĞ hŶŝǀĞƌƐŝƚǇ Ăƚ ƵĨĨĂůŽ͘ 'ŽƐŚŝŶ ĐƵƌƌĞŶƚůǇ ƐĞƌǀĞƐ ŽŶ ƚŚĞ ďŽĂƌĚƐ ŽĨ ŵĂŶǇ ŶŽƚͲĨŽƌͲƉƌŽĨŝƚ ŽƌŐĂŶŝǌĂƚŝŽŶƐ ŝŶĐůƵĚŝŶŐ Ă ǁĞůůͲƌĞŐĂƌĚĞĚ ŐůŽďĂů ĨŽƵŶĚĂƚŝŽŶ͕ ŚŽƐƉŝĐĞ ĂŶĚ ƉĂůůŝĂƚŝǀĞ ĐĂƌĞ ƉƌŽŐƌĂŵƐ͕ ŶƵƌƐŝŶŐ ŚŽŵĞƐ ĂŶĚ ŚŽŵĞ ĐĂƌĞ ƉƌŽŐƌĂŵƐ͕ Ă ƌĞƐĞĂƌĐŚ ŝŶƐƟ-ƚƵƚĞ ĂŶĚ Ă ĨŽƵŶĚĂƚŝŽŶ ƚŚĂƚ ĨŽĐƵƐĞƐ ŽŶ ƚŚĞ ĨƌĂŝů ĞůĚĞƌůǇ͘ Goshin has been married for over 50 years, and has two sons and three grandchildren. He is the author of ten books of poetry.

Joanne Haefner, FNP KĨĨŝĐĞ WŚŽŶĞ͗ ;ϳϭϲͿ ϴϳϱͲϮϵϬϰ ǆƚ͘ Ϯϲϱϭ Ğůů͗ ;ϳϭϲͿ ϱϱϯͲϮϱϵϱ ͲDĂŝů͗ ũ͘ŚĂĞĨŶĞƌΛŶǁďĐŚĐĐ͘ŽƌŐ :ŽĂŶŶĞ ͘ ,ĂĞĨŶĞƌ ũŽŝŶĞĚ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŝŶ ϮϬϭϯ͘ tŽƌŬŝŶŐ ŝŶ ŚĞĂůƚŚĐĂƌĞ ĨŽƌ ŵŽƌĞ ƚŚĂŶ ϯϬ ǇĞĂƌƐ͕ :ŽĂŶŶĞ ,ĂĞĨŶĞƌ͕ &EW ŝƐ ƚŚĞ WƌĞƐŝĚĞŶƚ ĂŶĚ ŚŝĞĨ ǆĞĐƵƚŝǀĞ KĨĨŝĐĞƌ ; KͿ ĨŽƌ EĞŝŐŚďŽƌŚŽŽĚ ,ĞĂůƚŚ ĞŶƚĞƌ ŽĨ tEz͕ /ŶĐ͕͘ ƚŚĞ ƌĞŐŝŽŶ͛Ɛ ůŽŶŐĞƐƚ ƚĞŶƵƌĞĚ &ĞĚĞƌĂůůǇ YƵĂůŝĨŝĞĚ ,ĞĂůƚŚ ĞŶƚĞƌ͘ hŶĚĞƌ :ŽĂŶŶĞ͛Ɛ ůĞĂĚĞƌƐŚŝƉ͕ EĞŝŐŚďŽƌŚŽŽĚ ŚĂƐ ĞǆƉĞƌŝĞŶĐĞĚ ƐŝŐŶŝĨŝĐĂŶƚ ŐƌŽǁƚŚ ǁŝƚŚ ĂŶ ĞǆƉĂŶĚĞĚ ĨŽŽƚƉƌŝŶƚ ƚŚĂƚ ŝŶĐůƵĚĞƐ Ɛŝǆ ďƌŝĐŬ ĂŶĚ ŵŽƌƚĂƌ ůŽĐĂƚŝŽŶƐ ƉƌŽǀŝĚŝŶŐ ƉƌŝŵĂƌǇ ĐĂƌĞ͕ ĚĞŶƚĂů͕ ďĞŚĂǀŝŽƌĂů ŚĞĂůƚŚ͕ ŶƵƚƌŝƚŝŽŶ͕ ƉŽĚŝĂƚƌǇ͕ ƉŚĂƌŵĂĐǇ ƐĞƌǀŝĐĞƐ ƉůƵƐ Ă ŵŽďŝůĞ ƵŶŝƚ͘ EĞŝŐŚďŽƌŚŽŽĚ ŽĨĨĞƌƐ ƋƵĂůŝƚǇ ŚĞĂůƚŚĐĂƌĞ ƚŽ ĂŶǇŽŶĞ͕ ƌĞŐĂƌĚůĞƐƐ ŽĨ ĂďŝůŝƚǇ ƚŽ ƉĂǇ͘ ƵƌƌĞŶƚůǇ͕ EĞŝŐŚďŽƌŚŽŽĚ ,ĞĂůƚŚ ĞŶƚĞƌ ŝƐ ƚŚĞ ƉƌŝŵĂƌǇ ĐĂƌĞ ŚŽŵĞ ƚŽ ŵŽƌĞ ƚŚĂŶ Ϯϲ͕ϬϬϬ tĞƐƚĞƌŶ EĞǁ zŽƌŬĞƌƐ͘ Ɛ WƌĞƐŝĚĞŶƚ ĂŶĚ K͕ :ŽĂŶŶĞ ŝƐ ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ĐĂƌƌǇŝŶŐ ŽƵƚ ƚŚĞ ŽƌŐĂŶŝǌĂƚŝŽŶ͛Ɛ ǀŝƐŝŽŶ ĨŽƌ ŝŵƉƌŽǀŝŶŐ ƚŚĞ ŚĞĂůƚŚ͕ ĂŶĚ ƐĞƌǀŝŶŐ ƚŚĞ ŚĞĂůƚŚĐĂƌĞ ŶĞĞĚƐ͕ ŽĨ ƚŚĞ ĐŽŵŵƵŶŝƚǇ͘ ^ŚĞ ĂůƐŽ ĐŽŶƚŝŶƵĞƐ ŚĞƌ ĐůŝŶŝĐĂů ƉƌĂĐƚŝĐĞ ďǇ ƐĞĞŝŶŐ ƉĂƚŝĞŶƚƐ Ăƚ EĞŝŐŚďŽƌŚŽŽĚ͘ :ŽĂŶŶĞ ŚŽůĚƐ Ă ĂĐŚĞůŽƌ ŽĨ ^ĐŝĞŶĐĞ ĚĞŐƌĞĞ ŝŶ ŶƵƌƐŝŶŐ͕ Ă ŵĂƐƚĞƌ͛Ɛ ĚĞŐƌĞĞ ĂŶĚ Ă &ĂŵŝůǇ EƵƌƐĞ WƌĂĐƚŝƚŝŽŶĞƌ ĚĞŐƌĞĞ ĨƌŽŵ ͛zŽƵǀŝůůĞ ŽůůĞŐĞ͘ ^ŚĞ ŝƐ Ă ƌĞĐŝƉŝĞŶƚ ŽĨ ƚŚĞ ͛zŽƵǀŝůůĞ ĞůƚĂ ^ŝŐŵĂ ǁĂƌĚ ĂŶĚ ĂŶ ŝŶĚƵĐƚĞĞ ŽĨ ƚŚĞ DĂƌŐƵĞƌŝƚĞ ͛zŽƵǀŝůůĞ ŚŽŶŽƌ ƐŽĐŝĞƚǇ͘ ĚĚŝƚŝŽŶĂůůǇ͕ ƐŚĞ ŝƐ Ă ϮϬϬϵ ŐƌĂĚƵĂƚĞ ŽĨ ƚŚĞ ,ĞĂůƚŚ >ĞĂĚĞƌƐŚŝƉ &ĞůůŽǁƐ ƉƌŽŐƌĂŵ ƚŚƌŽƵŐŚ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ĨŽƌ tĞƐƚĞƌŶ ĂŶĚ ĞŶƚƌĂů EĞǁ zŽƌŬ͕ ĂŶĚ ŝŶ ϮϬϭϴ ǁĂƐ ŚŽŶŽƌĞĚ ǁŝƚŚ Ă ƵƐŝŶĞƐƐ &ŝƌƐƚ͛Ɛ ,ĞĂůƚŚ ĂƌĞ >ĞĂĚĞƌ ŽĨ ǆĐĞůůĞŶĐĞ ĂǁĂƌĚ͘ ŵŽŶŐ ŽƚŚĞƌ ǀŽůƵŶƚĞĞƌ ĂĐƚŝǀŝƚŝĞƐ͕ :ŽĂŶŶĞ ƐĞƌǀĞĚ ĂƐ ƚŚĞ ďŽĂƌĚ ƉƌĞƐŝĚĞŶƚ ŽĨ ZŽŶĂůĚ DĐ ŽŶĂůĚ ,ŽƵƐĞ ŚĂƌŝƚǇ ŽĨ tĞƐƚĞƌŶ EĞǁ zŽƌŬ͘ ^ŚĞ ĐƵƌƌĞŶƚůǇ ƐĞƌǀĞƐ ŽŶ ƚŚĞ ďŽĂƌĚ ŽĨ ƚŚĞ hŶŝǀĞƌĂ ,ĞĂůƚŚĐĂƌĞ ZĞŐŝŽŶĂů ĚǀŝƐŽƌǇ ŽŵŵŝƚƚĞĞ͕ ŽŵŵƵŶŝƚǇ ,ĞĂůƚŚ ĂƌĞ ƐƐŽĐŝĂƚŝŽŶ ŽĨ EĞǁ zŽƌŬ ^ƚĂƚĞ ĂŶĚ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ĨŽƌ tĞƐƚĞƌŶ ĂŶĚ ĞŶƚƌĂů Ez͕ ĂŶĚ ƉĂƐƚ ƉƌĞƐŝĚĞŶƚ ĂŶĚ ĐƵƌƌĞŶƚ ďŽĂƌĚ ŵĞŵďĞƌ ŽĨ ƚŚĞ ^ĂĨĞƚǇ EĞƚ ƐƐŽĐŝĂƚŝŽŶ ŽĨ WƌŝŵĂƌǇ ĂƌĞ WƌŽǀŝĚĞƌƐ ;^E W WͿ͘ :ŽĂŶŶĞ ŝƐ ĂŶ ĂĐƚŝǀŝƐƚ ĨŽƌ ƐŽĐŝĂů ũƵƐƚŝĐĞ ĂŶĚ ĞƋƵŝƚǇ͕ ƚŚĞ ŶĞĞĚƐ ŽĨ ƚŚĞ ǁŚŽůĞ ƉĂƚŝĞŶƚ͕ ŝŵƉůĞŵĞŶƚŝŶŐ ŵŽĚĞůƐ ŽĨ ĐĂƌĞ ƚŚĂƚ ĞŶŐĂŐĞ ƚŚĞ ƉĂƚŝĞŶƚ ĂŶĚ ƚŚĞ ĨĂŵŝůǇ ǁŝƚŚ Ă ƐƚƌŽŶŐ ĞŵƉŚĂƐŝƐ ŽŶ ƚĞĂĐŚŝŶŐ ƐĞůĨͲĐĂƌĞ͕ ĂŶĚ ĂĚǀŽĐĂƚŝŶŐ ĨŽƌ ƉƌŽũĞĐƚƐ ƚŚĂƚ ďƵŝůĚ Ă ƐƚƌŽŶŐĞƌ ĐŽŵŵƵŶŝƚǇ͘

LaToya Jones Phone: 315-884-0488 Email: latoyajones315@gmail.com >ĂdŽǇĂ D͘ :ŽŶĞƐ ũŽŝŶĞĚ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ďŽĂƌĚ ŽĨ ƚƌƵƐƚĞĞƐ ŝŶ ϮϬϮϭ͘ ^ŚĞ ŚĂƐ ŚĂĚ ĂŶ ŝŵƉƌĞƐƐŝǀĞ ĐĂƌĞĞƌ ŝŶ ƚŚĞ ŚĞĂůƚŚĐĂƌĞ ŝŶĚƵƐƚƌǇ ĨŽƌ ŽǀĞƌ Ϯϳ ǇĞĂƌƐ͕ ďƵŝůĚŝŶŐ Ă ƌĞƉƵƚĂƚŝŽŶ ĂƐ Ă ĐŚĂŶŐĞͲĂŐĞŶƚ ŝŶ ƚŚĞ ĂƌĞŶĂ ŽĨ ƉƵďůŝĐ ŚĞĂůƚŚ ĂŶĚ ĚŝƐĂďŝůŝƚǇ ĂĚǀŽĐĂĐǇ͘ ^ŚĞ ŝƐ Ă ŶƵƌƐĞ ĂŶĚ ĐƵƌƌĞŶƚůǇ ƐĞƌǀĞƐ ĂƐ Ă ZĞŐŝŽŶĂů ,ĞĂůƚŚĐĂƌĞ ĚǀŽĐĂƚĞ ĨŽƌ ƚŚĞ ,ĞĂůƚŚĐĂƌĞ ĚƵĐĂƚŝŽŶ WƌŽũĞĐƚ ŝŶ ^ǇƌĂĐƵƐĞ Θ ĞŶƚƌĂů EĞǁ zŽƌŬ͘ tŝƚŚŝŶ ŚĞƌ ƌŽůĞ͕ ƐŚĞ ŽǀĞƌƐĞĞƐ ƚŚĞ ,t͛Ɛ ĐĐĞƐƐŝŶŐ ZĞƐŽƵƌĐĞƐ ĨŽƌ ƋƵŝƚǇ ŝŶ ^ǇƌĂĐƵƐĞ ; Z ^Ϳ ĨŽƌ Ks/ Ͳϭϵ ZĞƐƉŽŶƐĞ WƌŽŐƌĂŵ ĂƐ ŝƌĞĐƚŽƌ͘ :ŽŶĞƐ ŝƐ ƉĂƐƐŝŽŶĂƚĞ ĂďŽƵƚ ĚĞĐƌĞĂƐŝŶŐ ƚŚĞ ƌĂƚĞ ŽĨ ŚĞĂůƚŚ ĐĂƌĞ ĚŝƐƉĂƌŝƚŝĞƐ ŝŶ ƚŚĞ ĐŽŵŵƵŶŝƚǇ ĂŶĚ ŝƐ Ă ƐƚĂƵŶĐŚ ƐŽĐŝĂů ũƵƐƚŝĐĞ ĂĚǀŽĐĂƚĞ͕ ŝŶĨůƵĞŶĐĞƌ͕ ĞĚƵĐĂƚŽƌ͕ ǀŽůƵŶƚĞĞƌ͕ ĂŶĚ ƉƌŽŵŽƚĞƌ ŽĨ ŚŽůŝƐƚŝĐ ǁĞůůŶĞƐƐ͘ :ŽŶĞƐ ůĞǀĞƌĂŐĞƐ ŚĞƌ ƚĂůĞŶƚƐ ĂƐ Ă ĐŽĂůŝƚŝŽŶͲďƵŝůĚĞƌ ĂŶĚ ƐŽĐŝĂů ĐŚĂŶŐĞ ĂŐĞŶƚ ƚŚƌŽƵŐŚ ŚĞƌ ĂĐƚŝǀĞ ƉĂƌƚŝĐŝƉĂƚŝŽŶ ŝŶ ǀĂƌŝŽƵƐ ŽƌŐĂŶŝǌĂƚŝŽŶƐ͘ ^ŚĞ ǁĂƐ ĞůĞĐƚĞĚ ƚŽ ƐĞƌǀĞ ĂƐ ƚŚĞ &ŝƌƐƚ sŝĐĞ WƌĞƐŝĚĞŶƚ ŽĨ ƚŚĞ ^ǇƌĂĐƵƐĞ KŶŽŶĚĂŐĂ E W ĨŽƌ ϮϬϮϭͲϮϬϮϮ͘ ůŽŶŐ ǁŝƚŚ ŚĞƌ ǁŽƌŬ ǁŝƚŚ ƚŚĞ E W͕ :ŽŶĞƐ ŝƐ ƚŚĞ ĨŽƵŶĚĞƌ ŽĨ dŚĞ :ŽĞ &ĂŵŝůǇ &ŽƵŶĚĂƚŝŽŶ ĨŽƌ ŝƐĂďŝůŝƚǇ ĚǀŽĐĂĐǇ /ŶĐ͕͘ ƐĞƌǀĞƐ ŽŶ ƚŚĞ ďŽĂƌĚƐ ŽĨ ŵĞƌŝĐĂŶ ,ĞĂƌƚ ƐƐŽĐŝĂƚŝŽŶ ^ǇƌĂĐƵƐĞ͕ KĐĐƵƉĂƚŝŽŶĂů ,ĞĂůƚŚ ůŝŶŝĐĂů ĞŶƚĞƌ͕ ůĂĐŬ ƋƵŝƚǇ Θ ǆĐĞůůĞŶĐĞ ĚǀŝƐŽƌǇ ŽƵŶĐŝů ŽĨ ƚŚĞ Ez &͕ ĂŶĚ ƉĂƐƚ WƌĞƐŝĚĞŶƚ Θ &ŽƵŶĚĞƌ ŽĨ ůĂĐŬ EƵƌƐĞƐ ZŽĐŬ ^ǇƌĂĐƵƐĞ ŚĂƉƚĞƌ /ŶĐ͕͘ Ă ŐƌĂƐƐƌŽŽƚƐ ŽƌŐĂŶŝǌĂƚŝŽŶ ĨŽĐƵƐŝŶŐ ŽŶ ĐƵůƚŝǀĂƚŝŶŐ ŝŶŶŽǀĂƚŝǀĞ ŶƵƌƐĞ ůĞĂĚĞƌƐ ĂŶĚ ĐŽŵŵƵŶŝƚǇ ŽƵƚƌĞĂĐŚ ŝŶ ĚŝƐĂĚǀĂŶƚĂŐĞĚ ŶĞŝŐŚďŽƌŚŽŽĚƐ͘ ^ŚĞ ŝƐ Ă ŐƌĂĚƵĂƚĞ ŽĨ ƌǇĂŶƚ Θ ^ƚƌĂƚƚŽŶ ŽůůĞŐĞ ĞĂƌŶŝŶŐ Ă ďĂĐŚĞůŽƌ͛Ɛ ĚĞŐƌĞĞ ŝŶ ŚĞĂůƚŚ ƐĞƌǀŝĐĞƐ ĂĚŵŝŶŝƐƚƌĂƚŝŽŶ ĂŶĚ ĐƵƌƌĞŶƚůǇ ƉƵƌƐƵŝŶŐ Ă ŵĂƐƚĞƌ͛Ɛ ĚĞŐƌĞĞ ŝŶ ƉƵďůŝĐ ŚĞĂůƚŚ͘ ^ŚĞ ŝƐ Ă ŵĞŵďĞƌ ŽĨ ƚŚĞ ůƉŚĂ ĞƚĂ 'ĂŵŵĂ EĂƚŝŽŶĂů ,ŽŶŽƌ ^ŽĐŝĞƚǇ ĂŶĚ Ă ŐƌĂĚƵĂƚĞ ŽĨ dŚĞ ĚǀŽĐĂĐǇ /ŶƐƚŝƚƵƚĞ͕ EŽƵƌŝƐŚŝŶŐ dŽŵŽƌƌŽǁ͛Ɛ >ĞĂĚĞƌƐ ƚŚƌŽƵŐŚ dŚĞ 'ŝĨĨŽƌĚ &ŽƵŶĚĂƚŝŽŶ͕ ĂŶĚ dŚĞ >ĞĂĚĞƌƐŚŝƉ ůĂƐƐƌŽŽŵ ŽĨ 'ƌĞĂƚĞƌ ^ǇƌĂĐƵƐĞ ƚŚƌŽƵŐŚ ƚŚĞ ĞŶƚƌĂů EĞǁ zŽƌŬ ŽŵŵƵŶŝƚǇ &ŽƵŶĚĂƚŝŽŶ͘ :ŽŶĞƐ ŝƐ Ă ŶĂƚŝǀĞ ŽĨ ^ǇƌĂĐƵƐĞ͕ EĞǁ zŽƌŬ͕ ďŽƌŶ ĂŶĚ ƌĂŝƐĞĚ ŝŶ ĞŶƚƌĂů EĞǁ zŽƌŬ͘ ^ŚĞ ŝƐ Ă ŵŽƚŚĞƌ ŽĨ ƚǁŽ ŐŝƌůƐ ĂŶĚ ŽŶĞ ďŽǇ ĂŶĚ ƌĞƐŝĚĞƐ ŝŶ ůĂǇ͕ EĞǁ zŽƌŬ͘ KŶĞ ŽĨ ŚĞƌ ĨĂǀŽƌŝƚĞ ƋƵŽƚĞƐ ŝƐ ͞hŶŝƚǇ ŝƐ ǁŚĂƚ ǁŝůů ŚĞůƉ ƵƐ ŵŽǀĞ ƚŚĞ ŶĞĞĚůĞ ĨŽƌ ĞǀĞƌǇƚŚŝŶŐ͘͟ ͲƵŶŬŶŽǁŶ

Kevin Klotzbach Phone: (585) 746-1646 Email: kbklotzbach@gmail.com

<ĞǀŝŶ ͘ <ůŽƚǌďĂĐŚ ũŽŝŶĞĚ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ďŽĂƌĚ ŽĨ ƚƌƵƐƚĞĞƐ ŝŶ ϮϬϮϭ͘ ,Ğ ďƌŝŶŐƐ ĚĞĐĂĚĞƐ ŽĨ ůĞĂĚĞƌƐŚŝƉ ĂŶĚ ĞǆƉĞƌŝĞŶĐĞ ŝŶ ĨŝŶĂŶĐŝĂů ĂŶĚ ďĂŶŬŝŶŐ ƌŽůĞƐ͘ <ůŽƚǌďĂĐŚ ƐĞƌǀĞĚ ĂƐ ŚŝĞĨ &ŝŶĂŶĐŝĂů KĨĨŝĐĞƌ Ăƚ ǁĞƐƚĞƌŶ EĞǁ zŽƌŬͲďĂƐĞĚ &ŝǀĞ ^ƚĂƌ ĂŶŬ ĨƌŽŵ ϮϬϬϭ ƵŶƚŝů ŚŝƐ ƌĞƚŝƌĞŵĞŶƚ ŝŶ ϮϬϮϬ͘ WƌĞǀŝŽƵƐůǇ͕ ŚĞ ǁĂƐ ŚŝĞĨ /ŶǀĞƐƚŵĞŶƚ KĨĨŝĐĞƌ Ăƚ 'ƌĞĂƚĞƌ ƵĨĨĂůŽ ^ĂǀŝŶŐƐ ĂŶŬ͕ sŝĐĞ WƌĞƐŝĚĞŶƚ ĂŶĚ WŽƌƚĨŽůŝŽ DĂŶĂŐĞƌ Ăƚ DĞƌƌŝůů >ǇŶĐŚ ƐƐĞƚ ƐƐĞƐƐ-ŵĞŶƚ͕ ĂŶĚ ĚŵŝŶŝƐƚƌĂƚŝǀĞ sŝĐĞ WƌĞƐŝĚĞŶƚ ĂŶĚ WŽƌƚĨŽůŝŽ DĂŶĂŐĞƌ Ăƚ <ĞǇ ĂŶŬͬ ŵƉŝƌĞ &ĞĚĞƌĂů ^ĂǀŝŶŐƐ ĂŶŬ͘ <ůŽƚǌďĂĐŚ ǁĂƐ ƉĂƌƚ ŽĨ Ă ƚŚƌĞĞͲƉĞƌƐŽŶ ƚĞĂŵ ĐŽŶƚƌĂĐƚĞĚ ďǇ ƚŚĞ WŽůŝƐŚ ŵĞƌŝĐĂŶ ŶƚĞƌƉƌŝƐĞ &ƵŶĚ ƚŽ ĐƌĞĂƚĞ ƚŚĞ ĨŝƌƐƚ ŵŽƌƚŐĂŐĞ ďĂŶŬŝŶŐ ƐƚǇůĞĚ ĐŽŵƉĂŶǇ ŝŶ WŽůĂŶĚ͕ WŽůƐŬĂͲ ŵĞƌǇŬĂŶƐŬŝ ĂŶŬ ,ŝƉŽƚĞĐǌŶǇ͘ /Ŷ ƚŚŝƐ ƌŽůĞ͕ ŚĞ ĚĞǀĞůŽƉĞĚ͕ ŝŵƉůĞŵĞŶƚĞĚ ĂŶĚ ŵĂŶĂŐĞĚ Ăůů ƉŽůŝĐŝĞƐ ĂŶĚ ƉƌŽĐĞĚƵƌĞƐ ƌĞůĂƚŝŶŐ ƚŽ ƚŚĞ ůĞŶĚŝŶŐ ĂŶĚ ƐĞƌǀŝĐŝŶŐ ĂĐƚŝǀŝƚŝĞƐ ŽŶ ŵƵůƚŝĨĂŵŝůǇ ĐŽŶƐƚƌƵĐƚŝŽŶ ĂŶĚ ƌĞƐŝĚĞŶƚŝĂů ĞŶĚ ůŽĂŶƐ͘ <ůŽƚǌďĂĐŚ ĞĂƌŶĞĚ Ă ďĂĐŚĞůŽƌ͛Ɛ ĚĞŐƌĞĞ ŝŶ ĞĐŽŶŽŵŝĐƐ ĨƌŽŵ ƵĨĨĂůŽ ^ƚĂƚĞ ŽůůĞŐĞ͘ ,ŝƐ ĐŽŵŵƵŶŝƚǇ ƐĞƌǀŝĐĞ ŝŶĐůƵĚĞƐ ǀŽůƵŶƚĞĞƌ ǁŽƌŬ ǁŝƚŚ EĞŝŐŚďŽƌŚŽŽĚ ,ŽƵƐŝŶŐ ^ĞƌǀŝĐĞ͕ ƚŚĞ dŚĞŽĚŽƌĞ ZŽŽƐĞǀĞůƚ /ŶĂƵŐƵƌĂů ^ŝƚĞ͕ ƚŚĞ Ez^ ĂŶŬŝŶŐ WĞŶƐŝŽŶ ŽĂƌĚ ĂŶĚ ƐĞƌǀŝŶŐ ĂƐ Ă ƚƌƵƐƚĞĞ ĨŽƌ ͛zŽƵǀŝůůĞ ŽůůĞŐĞ͘ <ůŽƚǌďĂĐŚ ĂŶĚ ŚŝƐ ǁŝĨĞ ĐĂůů ƚŚĞ ƵĨĨĂůŽ ĂƌĞĂ ŚŽŵĞ͕ ĂůŽŶŐ ǁŝƚŚ ŚŝƐ ƚǁŽ ĚĂƵŐŚƚĞƌƐ͕ ŐƌĂŶĚĐŚŝůĚƌĞŶ ĂŶĚ ŚŝƐ ŵŽƚŚĞƌ͘ ,ŝƐ ŝŶƚĞƌĞƐƚƐ ŝŶĐůƵĚŝŶŐ ďŝŬŝŶŐ͕ ŐŽůĨ͕ ŚŝƐƚŽƌǇ ĂŶĚ ĞĐŽŶŽŵŝĐƐ͘

Elizabeth Mauro Cell Phone: (716) 983-3727 Email: emauro@ehsny.org ůŝǌĂďĞƚŚ >͘ DĂƵƌŽ͕ > ^tͲZ ũŽŝŶĞĚ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ďŽĂƌĚ ŽĨ ƚƌƵƐƚĞĞƐ ŝŶ ϮϬϮϭ͘ ^ŚĞ ǁĂƐ ĂƉƉŽŝŶƚĞĚ ƚŽ ŚĞƌ ĐƵƌƌĞŶƚ ƉŽƐŝƚŝŽŶ ĂƐ ŚŝĞĨ ǆĞĐƵƚŝǀĞ KĨĨŝĐĞƌ ŽĨ ŶĚĞĂǀŽƌ ,ĞĂůƚŚ ŝŶ ϮϬϬϳ͘ ^ŝŶĐĞ ŚĞƌ ĂƉƉŽŝŶƚŵĞŶƚ͕ ůŝǌĂďĞƚŚ ŚĂƐ ůĞĚ ƚŚĞ ŐƌŽǁƚŚ ĂŶĚ ĞǆƉĂŶƐŝŽŶ ŽĨ ƚŚĞ ŽƌŐĂŶŝǌĂƚŝŽŶ ĨƌŽŵ ƌŝĞ ŽƵŶƚǇ ŝŶƚŽ EŝĂŐĂƌĂ͕ KƌůĞĂŶƐ͕ 'ĞŶĞƐĞĞ ĂŶĚ DŽŶƌŽĞ ŽƵŶƚŝĞƐ͘ ,Ğƌ ŵŽƐƚ ƌĞĐĞŶƚ ĂĐĐŽŵƉůŝƐŚŵĞŶƚƐ ŝŶĐůƵĚĞ ƚŚĞ ŝŵƉůĞŵĞŶƚĂƚŝŽŶ ŽĨ Ă ĞƌƚŝĨŝĞĚ ŽŵŵƵŶŝƚǇ ĞŚĂǀŝŽƌĂů ,ĞĂůƚŚ ůŝŶŝĐ ; , Ϳ͕ ďĞĐŽŵŝŶŐ Ă ĨŽƵŶĚŝŶŐ ƉĂƌƚŶĞƌ ŽĨ ƚŚĞ ƌĞŐŝŽŶ͛Ɛ ĨŝƌƐƚ ĞŚĂǀŝŽƌĂů ,ĞĂůƚŚ ĂƌĞ ŽůůĂďŽƌĂƚŝǀĞ ; , Ϳ ŝŶ ƚŚĞ ĨŽƌŵ ŽĨ ĂŶ /W ͕ ŝŵƉůĞŵĞŶƚŝŶŐ ŝŶƚĞŐƌĂƚĞĚ ĐůŝŶŝĐƐ ǁŝƚŚ ƉƌŝŵĂƌǇ ĐĂƌĞ ŝŶĐůƵĚŝŶŐ ƐƉĞĐŝĨŝĐĂůůǇ ƚĂŝůŽƌĞĚ DĞĚŝĐĂƚŝŽŶ ƐƐŝƐƚĞĚ dƌĞĂƚŵĞŶƚ ĨŽƌ ĂĚŽůĞƐĐĞŶƚƐ ĂŶĚ ǇŽƵŶŐ ĂĚƵůƚƐ ĂŶĚ ĐŚĂŶŐŝŶŐ ƚŚĞ ŶĂŵĞ ĂŶĚ ďƌĂŶĚ ŽĨ ŚĞƌ ĂŐĞŶĐǇ ƚŽ ďĞƚƚĞƌ ƌĞĨůĞĐƚ ƚŚĞ ƐĞƌǀŝĐĞ ĞǆƉĂŶƐŝŽŶ ĂŶĚ ĞǀŽůǀŝŶŐ ƌŽůĞ ŽĨ ďĞŚĂǀŝŽƌĂů ŚĞĂůƚŚĐĂƌĞ͘ ŶĚĞĂǀŽƌ ĐƵƌƌĞŶƚůǇ ŽƉĞƌĂƚĞƐ ϯϱ ĚŝĨĨĞƌĞŶƚ ƉƌŽŐƌĂŵƐ ĂŶĚ ŝƐ ůŝĐĞŶƐĞĚ ŝŶ ƚŚĞ ĂƌĞĂƐ ŽĨ ĚƵůƚ DĞŶƚĂů ,ĞĂůƚŚ͕ ŚŝůĚ DĞŶƚĂů ,ĞĂůƚŚ͕ ůĐŽŚŽů ĂŶĚ ^ƵďƐƚĂŶĐĞ ďƵƐĞ ^ĞƌǀŝĐĞƐ ĂŶĚ /ŶƚĞŐƌĂƚĞĚ ^ĞƌǀŝĐĞƐ͘ ůŝǌĂďĞƚŚ ŝƐ ĨƌŽŵ ƚŚĞ ƵĨĨĂůŽ ĂƌĞĂ ĂŶĚ Ă ŐƌĂĚƵĂƚĞ ŽĨ dŚĞ ^ƚĂƚĞ hŶŝǀĞƌƐŝƚǇ ŽĨ EĞǁ zŽƌŬ Ăƚ ƵĨĨĂůŽ͛Ɛ 'ƌĂĚƵĂƚĞ WƌŽŐƌĂŵ ŝŶ ^ŽĐŝĂů tŽƌŬ͘ DƐ͘ DĂƵƌŽ ŚĂƐ ďĞĞŶ ǁŝƚŚ ŶĚĞĂǀŽƌ ĨŽƌ ƚŚĞ ƉĂƐƚ Ϯϲ ǇĞĂƌƐ͘ ^ŚĞ ŚĂƐ ďĞĞŶ ŝŶ ǀĂƌŝŽƵƐ ƉŽƐŝƚŝŽŶƐ ŝŶĐůƵĚŝŶŐ ŽƌƉŽƌĂƚĞ ŽŵƉůŝĂŶĐĞ KĨĨŝĐĞƌ͕ ^ƵƉĞƌǀŝƐŽƌ ŽĨ ŚŝůĚ DĞŶƚĂů ,ĞĂůƚŚ ůŝŶŝĐƐ͕ ^ŝƚĞ dĞĂŵ >ĞĂĚ-er and Mental Health Counselor. ůŝǌĂďĞƚŚ ŝƐ ƚŚĞ ƌĞĐŝƉŝĞŶƚ ŽĨ ƚŚĞ ϮϬϭϴ >ŝĨĞƚŝŵĞ ĐŚŝĞǀĞŵĞŶƚ ǁĂƌĚ ďǇ ƚŚĞ EĂƚŝŽŶĂů ƐƐŽĐŝĂƚŝŽŶ ŽĨ ^ŽĐŝĂů tŽƌŬĞƌƐ͕ Ez^ tĞƐƚĞƌŶ ŝǀŝƐŝŽŶ͘ ^ŚĞ ƐĞƌǀĞƐ ŽŶ ƚŚĞ ŽĂƌĚ ŽĨ ŝƌĞĐƚŽƌƐ ŽĨ WĞŽƉůĞ /ŶĐ͕͘ Ă ŶŽƚͲĨŽƌͲƉƌŽĨŝƚ ŚĞĂůƚŚ ĂŶĚ ŚƵŵĂŶ ƐĞƌǀŝĐĞƐ ĂŐĞŶĐǇ͘ ^ŚĞ ŝƐ Ă ĨŽƵŶĚŝŶŐ ƉĂƌƚŶĞƌ͕ dƌĞĂƐƵƌĞƌ ĂŶĚ ĚǀŝƐŽƌǇ ŽĂƌĚ ŵĞŵďĞƌ ŽĨ sĂůƵĞ EĞƚǁŽƌŬ /W ͕ >> ĂůŽŶŐ ǁŝƚŚ ƐĞƌǀŝŶŐ ŽŶ ƚŚĞ ĞŚĂǀŝŽƌĂů ,ĞĂůƚŚ YƵĂůŝƚǇ /ŵƉƌŽǀĞŵĞŶƚ ŽŵŵŝƚƚĞĞ ĨŽƌ ŵĞƌŝŐƌŽƵƉ WĂƌƚŶĞƌƐŚŝƉ WůĂŶ͕ >> ĨŽƌ ,ŝŐŚŵĂƌŬ ůƵĞ ƌŽƐƐ ůƵĞ ^ŚŝĞůĚ ŽĨ tEz ĂŶĚ ƚŚĞ hƚŝůŝǌĂƚŝŽŶ DĂŶĂŐĞŵĞŶƚ ĂŶĚ YƵĂůŝƚǇ DĂŶĂŐĞŵĞŶƚ ĞŚĂǀŝŽƌĂů ,ĞĂůƚŚ ƐƵďĐŽŵŵŝƚƚĞĞƐ ĨŽƌ zŽƵƌ ĂƌĞ ,ĞĂůƚŚ WůĂŶ͕ ĞĂĐŽŶ ,ĞĂůƚŚ KƉƚŝŽŶƐ͘ ^ŚĞ ƐĞƌǀĞĚ ĂƐ ƚŚĞ ĚǀŝƐŽƌǇ ŽĂƌĚ ŚĂŝƌ ĨŽƌ ƚŚĞ KŝƐŚĞŝ ,ĞĂůƚŚǇ <ŝĚƐ ŚŝůĚƌĞŶ͛Ɛ ,ĞĂůƚŚ ,ŽŵĞ ĂƌĞ DĂŶĂŐĞŵĞŶƚ ŽŵŵŝƚƚĞĞ ƵƉŽŶ ŝƚƐ ŝŶĐĞƉƚŝŽŶ͘ ůŝǌĂďĞƚŚ ŝƐ Ă ƌĞĐŝƉŝĞŶƚ ŽĨ Ă ƐĐŚŽůĂƌƐŚŝƉ ƚŽ ,ĂƌǀĂƌĚ hŶŝǀĞƌƐŝƚǇ͕ :ŽŚŶ &͘ <ĞŶŶĞĚǇ ^ĐŚŽŽů ŽĨ 'ŽǀĞƌŶŵĞŶƚ ǆĞĐƵƚŝǀĞ ĚƵĐĂƚŝŽŶ ƉƌŽŐƌĂŵ͖ ĂŶ ĚũƵŶĐƚ WƌŽĨĞƐƐŽƌ Ăƚ ^ĂŝŶƚ ŽŶĂǀĞŶƚƵƌĞ hŶŝǀĞƌƐŝƚǇ 'ƌĂĚƵĂƚĞ ^ĐŚŽŽů ŽĨ ĚƵĐĂƚŝŽŶ͖ Ă ƉĂƐƚ ƚĞĂĐŚĞƌͬŵŽĚĞƌĂƚŽƌ ĨŽƌ dŚĞ ,ĂƌǀĂƌĚ ƵƐŝŶĞƐƐ ^ĐŚŽŽů ůƵď ŽĨ ƵĨĨĂůŽ͖ ĂŶĚ ĐƵƌƌĞŶƚůǇ ƐĞƌǀĞƐ ĂƐ ƚŚĞ tĞƐƚĞƌŶ ZĞŐŝŽŶ ZĞƉƌĞƐĞŶƚĂƚŝǀĞ ŽĂƌĚ DĞŵďĞƌ ĨŽƌ ƚŚĞ EĞǁ zŽƌŬ ŽƵŶ-Đŝů ŽŶ ŽŵŵƵŶŝƚǇ ĞŚĂǀŝŽƌĂů ,ĞĂůƚŚĐĂƌĞ͘

Marybeth K. McCall, M.D. Secretary WŚŽŶĞ͗ ;ϯϭϱͿ ϳϵϰͲϱϬϯϴ ŵĂŝů͗ ŵĂƌǇďĞƚŚ͘ŵĐĐĂůůΛŐŵĂŝů͘ĐŽŵ DĂƌǇďĞƚŚ <͘ DĐ Ăůů͕ D ďĞĐĂŵĞ Ă ŵĞŵďĞƌ ŽĨ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ďŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŝŶ ϮϬϭϴ͘ ^ŚĞ ǁĂƐ ĞůĞĐƚĞĚ ƐĞĐƌĞƚĂƌǇ ŝŶ ϮϬϮϬ͕ ĂŶĚ ĐƵƌƌĞŶƚůǇ ĐŚĂŝƌƐ ƚŚĞ ŽŵŵƵŶŝƚǇ /ŵƉĂĐƚ ŽŵŵŝƚƚĞĞ͘ DĐ Ăůů ƌĞƚŝƌĞĚ ŝŶ ϮϬϭϲ ĂƐ sŝĐĞ WƌĞƐŝĚĞŶƚ ĂŶĚ ƌĞŐŝŽŶĂů ĐŚŝĞĨ ŵĞĚŝĐĂů ŽĨĨŝĐĞƌ ŽĨ ǆĐĞůůƵƐ ůƵĞ ƌŽƐƐ ůƵĞ^ŚŝĞůĚ ǁŚĞƌĞ ƐŚĞ ǁŽƌŬĞĚ ǁŝƚŚ ŚŽƐƉŝƚĂů ƋƵĂůŝƚǇ ĂŶĚ ǀĂůƵĞͲďĂƐĞĚ ƉƌŽŐƌĂŵƐ͘ ^ŚĞ ƉƌĞǀŝŽƵƐůǇ ƐĞƌǀĞĚ ĂƐ ĐŚŝĞĨ ŵĞĚŝĐĂů ŽĨĨŝĐĞƌ ĨŽƌ &ĂǆƚŽŶͲ^ƚ͘ >ƵŬĞ͛Ɛ͕ ƌŽƵƐĞ ĂŶĚ ZŽŵĞ ŚŽƐƉŝƚĂůƐ ĂŶĚ ǁĂƐ ĂŶ ĂĚũƵŶĐƚ ƉƌŽĨĞƐƐŽƌ Ăƚ ^hEz /d ĨŽƌ ƚŚĞ ŵĂƐƚĞƌ͛Ɛ ƉƌŽŐƌĂŵ ĨŽƌ ŶƵƌƐĞ ƉƌĂĐƚŝƚŝŽŶĞƌƐ͘ DĐ Ăůů ŽďƚĂŝŶĞĚ ŚĞƌ ďĂĐŚĞůŽƌ͛Ɛ ĚĞŐƌĞĞ ŝŶ ĐŚĞŵŝĐĂů ĞŶŐŝŶĞĞƌŝŶŐ ĨƌŽŵ DĂŶŚĂƚƚĂŶ ŽůůĞŐĞ ŝŶ ZŝǀĞƌĚĂůĞ͕ Ez ǁŚĞƌĞ ƐŚĞ ŐƌĂĚƵĂƚĞĚ DĂŐŶĂ ĐƵŵ >ĂƵĚĞ͘ ĨƚĞƌ ĐŽŵƉůĞƚŝŶŐ ŵĞĚŝĐĂů ƐĐŚŽŽů Ăƚ 'ĞŽƌŐĞƚŽǁŶ hŶŝǀĞƌƐŝƚǇ͕ ƐŚĞ ĐŽŵƉůĞƚĞĚ ŚĞƌ ƌĞƐŝĚĞŶĐǇ ŝŶ /ŶƚĞƌŶĂů DĞĚŝĐŝŶĞ Ăƚ ƚŚĞ hŶŝǀĞƌƐŝƚǇ ŽĨ WŝƚƚƐďƵƌŐŚ͘ DĐ Ăůů ǁĂƐ ĂƐƐŝŐŶĞĚ ĂĐƚŝǀĞ ĚƵƚǇ ƚŽ KĨĨƵƚƚ & ŝŶ KŵĂŚĂ͕ EĞďƌĂƐŬĂ͕ ǁŚĞƌĞ ƐŚĞ ǁĂƐ ƉƌŽŵŽƚĞĚ ƚŽ ŵĂũŽƌ ŝŶ ƚŚĞ ŝƌ &ŽƌĐĞ ZĞƐĞƌǀĞƐ͘ /Ŷ ϮϬϬϭ͕ ƐŚĞ ĐŽŵƉůĞƚĞĚ ŚĞƌ DĂƐƚĞƌ͛Ɛ ŝŶ DĞĚŝĐĂů DĂŶĂŐĞŵĞŶƚ ĨƌŽŵ ĂƌŶĞŐŝĞ DĞůůŽŶ hŶŝǀĞƌƐŝƚǇ͘ DĐ Ăůů ŝƐ ĂĐƚŝǀĞ ŝŶ ŵĂŶǇ ƉƌŽĨĞƐƐŝŽŶĂů ĂŶĚ ĐŽŵŵƵŶŝƚǇ ĂĐƚŝǀŝƚŝĞƐ ŝŶĐůƵĚŝŶŐ ĐƵƌƌĞŶƚ ďŽĂƌĚ ŵĞŵďĞƌƐŚŝƉ ǁŝƚŚ ŽǇ ^ĐŽƵƚƐ ŽĨ ŵĞƌŝĐĂ͕ ĞŶƚƌĂů EĞǁ zŽƌŬ ,ĞĂůƚŚ ,ŽŵĞ EĞƚǁŽƌŬ͕ ,ŽƉĞ ,ŽƵƐĞ͕ ĂŶĚ DĂŶŚĂƚƚĂŶ ŽůůĞŐĞ͘ ^ŚĞ ŝƐ ĂĐƚŝǀĞ ŝŶ ŚĞƌ ĐŚƵƌĐŚ ĂƐ ĨĂĐŝůŝƚĂƚŽƌ ŽĨ ƚŚĞ WĂƌŝƐŚ ůƵƐƚĞƌ ƌĞĂƐ ĂŶĚ ůĞĂĚƐ ƐĂĨĞ ĞŶǀŝƌŽŶŵĞŶƚ ĨŽƌ ĐŚŝůĚƌĞŶ ƚƌĂŝŶŝŶŐ͘ ^ŚĞ ŝƐ Ă ĚĞůĞŐĂƚĞ ƚŽ ƚŚĞ ,ŽƵƐĞ ŽĨ ĞůĞŐĂƚĞƐ ŽĨ ƚŚĞ DĞĚŝĐĂů ^ŽĐŝĞƚǇ ŽĨ ƚŚĞ ^ƚĂƚĞ ŽĨ EĞǁ zŽƌŬ͕ &ŝĨƚŚ ŝƐƚƌŝĐƚ ZĞƉƌĞƐĞŶƚĂƚŝǀĞ ĂŶĚ WƌĞƐŝĚĞŶƚ ŽĨ ƚŚĞ KŶĞŝĚĂ ŽƵŶƚǇ DĞĚŝĐĂů ^ŽĐŝĞƚǇ͘ ƌ͘ DĐ Ăůů ŝƐ WĂƐƚ WƌĞƐŝĚĞŶƚ ĂŶĚ ĐƵƌƌĞŶƚ ^ĞĐƌĞƚĂƌǇ ĨŽƌ ƚŚĞ hƚŝĐĂ DĞĚŝĐĂů ůƵď͘ DĐ Ăůů ǁĂƐ ĂǁĂƌĚĞĚ ^hEz WŽůǇ ;ƚŚĞŶ ^hEz /dͿ ŝƐƚŝŶŐƵŝƐŚĞĚ ^ĞƌǀŝĐĞ ǁĂƌĚ ŝŶ ϭϵϵϲ ĂŶĚ ƚŚĞ /ŵŵĂĐƵůĂƚĂ ǁĂƌĚ ŝŶ ϮϬϭϱ ďǇ ƚŚĞ ŝŽĐĞƐĞ ŽĨ ^ǇƌĂĐƵƐĞ͘ ^ŚĞ ǁĂƐ ƌĞĐŽŐŶŝǌĞĚ ďǇ ƚŚĞ zt ^ĂůƵƚĞ ǁĂƌĚ ŝŶ ,ĞĂůƚŚĐĂƌĞ ŝŶ ϮϬϬϵ͘ ^ŚĞ ǁĂƐ ŝŶĚƵĐƚĞĚ ŝŶƚŽ ƚŚĞ DĞĚŝĐĂů ^ŽĐŝĞƚǇ͛Ɛ ,Ăůů ŽĨ ŝƐƚŝŶĐƚŝŽŶ ŝŶ ϮϬϭϴ͘ ^ŚĞ ĂŶĚ ŚĞƌ ŚƵƐďĂŶĚ͕ ƌ͘ &ƌĂŶŬ ƵďĞĐŬ͕ ůŝǀĞ ŝŶ hƚŝĐĂ͘ dŚĞǇ ŚĂǀĞ ƚǁŽ ŐƌŽǁŶ ĐŚŝůĚƌĞŶ͕ ĂŶĚ ƚŚƌĞĞ ŐƌĂŶĚĐŚŝůĚƌĞŶ͘

ƌĞŶĚĂ DĐ ƵĨĨŝĞ ďŵĐĚƵĨĨŝĞϭϭϲΛŐŵĂŝů͘ĐŽŵ ;ϳϭϲͿ ϰϰϱͲϱϬϲϲ

ƌĞŶĚĂ t͘ DĐ ƵĨĨŝĞ ŝƐ ĂŶ ĂĐƚŝǀĞ ĐŽŵŵƵŶŝƚǇ ĐŚĂŵƉŝŽŶ ǁŚŽ ĂĚǀŽĐĂƚĞƐ ĨŽƌ ƐǇƐƚĞŵŝĐ ĐŚĂŶŐĞ ĂŶĚ ĂĐƚŝŽŶ ƚŽ ŵĂŬĞ ůŝĨĞ ďĞƚƚĞƌ ĨŽƌ Ăůů ƉĞŽƉůĞ ŝŶ ƚŚĞ tĞƐƚĞƌŶ EĞǁ zŽƌŬ ƌĞŐŝŽŶ ĂŶĚ ďĞǇŽŶĚ͘ dŚĞ ĨŝƌƐƚ ǁŽŵĂŶ WƌĞƐŝĚĞŶƚ ĂŶĚ K ŽĨ ƚŚĞ ƵĨĨĂůŽ hƌďĂŶ >ĞĂŐƵĞ͕ /ŶĐ͕͘ ƌĞŶĚĂ ƌĞƚŝƌĞĚ ŝŶ ^ĞƉƚĞŵďĞƌ ϮϬϮϬ ďƵƚ ŶĞǀĞƌ ƐƚŽƉƉĞĚ ƵƐŝŶŐ ŚĞƌ ǀŽŝĐĞ ĨŽƌ ĂŶĚ ƐĞƌǀŝŶŐ ŽƚŚĞƌƐ͘ hŶĚĞƌ ŚĞƌ ůĞĂĚĞƌƐŚŝƉ͕ ƚŚĞ ƵĨĨĂůŽ hƌďĂŶ >ĞĂŐƵĞ ŐƌĞǁ ƚŽ ƐĞƌǀĞ ŵŽƌĞ ƚŚĂŶ ϮϬ͕ϬϬϬ ŝŶĚŝǀŝĚƵĂůƐ ĂŶŶƵĂůůǇ͕ ĂĚĚƌĞƐƐŝŶŐ ƚŚĞŝƌ ŚĞĂůƚŚ͕ ĞĐŽŶŽŵŝĐ͕ ĂŶĚ ƐŽĐŝĂů ŶĞĞĚƐ͘ tŝƚŚ ƌĞŶĚĂ͛Ɛ ĚŝƌĞĐƚŝŽŶ͕ ƚŚĞ hƌďĂŶ >ĞĂŐƵĞ ĂĐŚŝĞǀĞĚ ƌĞĐŽŐŶŝƚŝŽŶ ƚŚƌŽƵŐŚŽƵƚ ǁĞƐƚĞƌŶ EĞǁ zŽƌŬ ĨŽƌ ƚŚĞŝƌ ĂĚͲǀŽĐĂĐǇ ĂŶĚ ĞǆĞŵƉůĂƌǇ ŚŽůŝƐƚŝĐ ǁŽƌŬ ƐƚƌĞŶŐƚŚĞŶŝŶŐ ĨĂŵŝůŝĞƐ͕ ƌĂŝƐŝŶŐ ĞĚƵĐĂƚŝŽŶ ŽƵƚĐŽŵĞƐ͕ ĂĚĚƌĞƐƐŝŶŐ ŚĞĂůƚŚ ĂŶĚ ĞĐŽŶŽŵŝĐ ŝŶĞƋƵŝƚŝĞƐ͕ ĂŶĚ ĐƌĞĂƚŝŶŐ ŽƉƉŽƌƚƵŶŝƚŝĞƐ ĨŽƌ ŝŶĚŝǀŝĚƵĂůƐ ĂŶĚ ďƵƐŝŶĞƐƐĞƐ ƚŽ ƉƌŽƐƉĞƌ͘ ƌĞŶĚĂ͛Ɛ ƉĞƌƐŽŶĂů ƌĞĐŽŐŶŝƚŝŽŶ ŽĨ ƚŚĞ ǀĂůƵĞ ĂŶĚ ŐŝĨƚƐ ŽĨ ĞǀĞƌǇ ŝŶĚŝǀŝĚƵĂů ŚĂƐ ŐŝǀĞŶ ŚĞƌ Ă ƵŶŝƋƵĞ ĂďŝůŝƚǇ ƚŽ ĞĨĨĞĐƚŝǀĞůǇ ǁŽƌŬ ǁŝƚŚ ƉĞŽƉůĞ ĨƌŽŵ Ăůů ǁĂůŬƐ ŽĨ ůŝĨĞ ʹ ĨƌŽŵ ŐƌĂƐƐƌŽŽƚƐ ƚŽ ŐƌĂƐƐ ƚŽƉƐ͖ ĨƌŽŵ ǇŽƵŶŐ ƚŽ ŽůĚ͘ ^ŽŵĞ ŽĨ ŚĞƌ ƉĂƐƚ ĂŶĚ ĐƵƌƌĞŶƚ ǀŽůƵŶƚĞĞƌ ďŽĂƌĚ ƐĞƌǀŝĐĞ ŝŶĐůƵĚĞƐ͗ 'ƌĞĂƚĞƌ ƵĨĨĂůŽ ^ĂǀŝŶŐƐ ĂŶŬ ŽĂƌĚ ;ĨŽƵŶĚŝŶŐ ŵĞŵďĞƌͿ͖ /ŶĚĞƉĞŶĚĞŶƚ ,ĞĂůƚŚ ƐƐŽĐŝĂƚŝŽŶ͖ tĞƐƚĞƌŶ EĞǁ zŽƌŬ ZĞŐŝŽŶĂů ĐŽŶŽŵŝĐ ĞǀĞůŽƉŵĞŶƚ ŽƵŶĐŝů ; ǆĞĐƵƚŝǀĞ ŽŵŵŝƚƚĞĞͿ͖ ƚŚĞ tĞƐƚĞƌŶ EĞǁ zŽƌŬ WŽǁĞƌ WƌŽĐĞĞĚƐ ůůŽĐĂƚŝŽŶ͖ ƵĨĨĂůŽ ^ƚĂƚĞ ŽůůĞŐĞ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ͖ hŶŝǀĞƌƐŝƚǇ Ăƚ ƵĨĨĂůŽ ŽƵŶĐŝů͖ ƵĨĨĂůŽ ĂŶĚ ƌŝĞ ŽƵŶƚǇ tŽƌŬĨŽƌĐĞ ĞǀĞůŽƉŵĞŶƚ ŽĂƌĚ ;sŝĐĞ ŚĂŝƌͿ͖ EĞǁ zŽƌŬ ^ƚĂƚĞ ZĞͲ ŶƚƌǇ ŽƵŶĐŝů͖ EĞǁ zŽƌŬ ^ƚĂƚĞ &ĂƌŵĞƌ >ĂďŽƌ tĂŐĞ ŽĂƌĚ ; ŚĂŝƌͿ͖ WĂƉƉǇ DĂƌƚŝŶ >ĞŐĂĐǇ :Ăǌǌ ŽůůĞĐƚŝǀĞ ; ŚĂŝƌͿ͖ ĂŶĚ ƚŚĞ EĂƚŝŽŶĂů hƌďĂŶ >ĞĂŐƵĞ͘ ^ŚĞ ĂůƐŽ ĐƵƌƌĞŶƚůǇ ƐĞƌǀĞƐ ĂƐ ƚŚĞ ĨŝƌƐƚ ǁŽŵĂŶ ŚĂŝƌ ŽĨ ƚŚĞ ƌŝĞ ŽƵŶƚǇ /ŶĚƵƐƚƌŝĂů ŐĞŶĐǇ ; / Ϳ͘ ĂĐŚ ǇĞĂƌ ŽǀĞƌ ƚŚĞ ůĂƐƚ ĚĞĐĂĚĞ ƐŚĞ ǁĂƐ ƌĞĐŽŐŶŝǌĞĚ ďǇ ƵƐŝŶĞƐƐ &ŝƌƐƚ ĂƐ ŽŶĞ ŽĨ ƚŚĞ ŵŽƐƚ ŝŶĨůƵĞŶƚŝĂů ůĞĂĚĞƌƐ ŝŶ tĞƐƚĞƌŶ EĞǁ zŽƌŬ͕ ďĞŝŶŐ ŝŶĚƵĐƚĞĚ ŝŶƚŽ ƚŚĞŝƌ ƵƐŝŶĞƐƐ ,Ăůů ŽĨ &ĂŵĞ ŝŶ ϮϬϮϭ͘ ŽƌŶ ĂŶĚ ƌĂŝƐĞĚ ŝŶ ƌŽŽŬůǇŶ͕ EĞǁ zŽƌŬ͕ ƌĞŶĚĂ ƌĞĐĞŝǀĞĚ ŚĞƌ ďĂĐŚĞůŽƌ͛Ɛ ĚĞŐƌĞĞ ŝŶ ,ƵŵĂŶ ^ĞƌǀŝĐĞƐ ĨƌŽŵ ƵĨͲ ĨĂůŽ ^ƚĂƚĞ ŽůůĞŐĞ ĂŶĚ ŐƌĂĚƵĂƚĞ ĐĞƌƚŝĨŝĐĂƚŝŽŶ ŝŶ ,ƵŵĂŶ ZĞƐŽƵƌĐĞƐ ĨƌŽŵ ƚŚĞ hŶŝǀĞƌƐŝƚǇ Ăƚ ƵĨĨĂůŽ ^ĐŚŽŽů ŽĨ DĂŶĂŐĞŵĞŶƚ͘ ƌĞŶĚĂ ĂŶĚ ŚĞƌ ŚƵƐďĂŶĚ͕ 'ĞƌĂůĚ͕ ĐƵƌƌĞŶƚůǇ ƌĞƐŝĚĞ ŝŶ ƵĨĨĂůŽ ǁŚĞƌĞ ƚŚĞǇ ƌĂŝƐĞĚ ƚŚĞŝƌ ĐŚŝůĚƌĞŶ͘ ,Ğƌ ĨĂŝƚŚ ĐŽŶƚŝŶƵĞƐ ƚŽ ĂůůŽǁ ŚĞƌ ƚŽ ůŝǀĞ Ă ƌŝĐŚůǇ ďůĞƐƐĞĚ ůŝĨĞ͘

Sucharita Paul, MD doctor.suchie@gmail.com (508) 274-2512 ^ƵĐŚĂƌŝƚĂ WĂƵů͕ D ͕ ŝƐ ĂŶ ĞŵĞƌŐĞŶĐǇ ƉŚǇƐŝĐŝĂŶ ǁŚŽ ŚĂƐ ŵĂĚĞ ĐŽŵŵƵŶŝƚǇ ƐĞƌǀŝĐĞ͕ ĚŝƐĞĂƐĞ ƉƌĞǀĞŶƚŝŽŶ͕ ĂŶĚ ƉƵďůŝĐ ŚĞĂůƚŚ ĞĚƵĐĂƚŝŽŶ ƚŚĞ ĐĞŶƚĞƌ ŽĨ ŚĞƌ ĐĂƌĞĞƌ ĂŶĚ ǀŽůƵŶƚĞĞƌ ǁŽƌŬ͘ ^ŚĞ ŝƐ ĐƵƌƌĞŶƚůǇ ŝŶǀŽůǀĞĚ ŝŶ ĞĨĨŽƌƚƐ ƚŽ ŝĚĞŶƚŝĨǇ ĂŶĚ ĂĚǀŽĐĂƚĞ ĨŽƌ ŽůĚĞƌ ĂĚƵůƚ ƉĂƚŝĞŶƚƐ ŝŶ ĞŵĞƌŐĞŶĐǇ ĚĞƉĂƌƚŵĞŶƚƐ ƚŚƌŽƵŐŚŽƵƚ ǁĞƐƚĞƌŶ EĞǁ zŽƌŬ ǁŚŝůĞ ĂůƐŽ ĞǆƉůŽƌŝŶŐ ĂƌĞĂƐ ŽĨ ƉƵďůŝĐ ŚĞĂůƚŚ ǁŝƚŚ ƚŚĞ ĞŵĞƌŐĞŶĐǇ ŵĞĚŝĐŝŶĞ ƌĞƐŝĚĞŶƚƐ ǁŚŽƐĞ ƐƉĞĐŝĂůƚŝĞƐ ŝŶĐůƵĚĞ͗ ŐůŽďĂů ŵĞĚŝĐŝŶĞ͖ ĂĚĚŝĐƚŝŽŶ ĂŶĚ ƚŚĞ ŽƉŝĂƚĞ ĐƌŝƐŝƐ͖ ŐƵŶ ǀŝŽůĞŶĐĞ͖ ŚĞĂůƚŚ ĚŝƐƉĂƌŝƚŝĞƐ͖ ĂŶĚ ƐŽĐŝĂů ŝŶĞƋƵŝƚŝĞƐ ŝŶ ŵĞĚŝĐŝŶĞ͘ ,Ğƌ ŝŶƚĞƌĞƐƚ ŝŶ ƐĞƌǀŝŶŐ ĚŝƐĂĚǀĂŶƚĂŐĞĚ ĂŶĚ ůŽǁͲƌĞƐŽƵƌĐĞ ĐŽŵŵƵŶŝƚŝĞƐ ŚĂƐ ůĞĚ ŚĞƌ ƚŽ ďĞĐŽŵĞ ŝŶǀŽůǀĞĚ ŝŶ ŝŶƚĞƌŶĂƚŝŽŶĂů ĞŵĞƌŐĞŶĐǇ ŵĞĚŝĐŝŶĞ ǁŽƌŬ ŝŶ ďŽƚŚ sŝĞƚŶĂŵ ĂŶĚ /ŶĚŝĂ͘ ƵƌƌĞŶƚůǇ ĂŶ ĂƚƚĞŶĚŝŶŐ ĞŵĞƌŐĞŶĐǇ ŵĞĚŝĐŝŶĞ ƉŚǇƐŝĐŝĂŶ Ăƚ ƵĨĨĂůŽ 'ĞŶĞƌĂů ,ŽƐƉŝƚĂů ĂŶĚ h D ŵĞƌŐĞŶĐǇ DĞĚŝĐŝŶĞ͕ ƌ͘ WĂƵů ŚĂƐ ƉƌĞǀŝŽƵƐůǇ ƐĞƌǀĞĚ ĂƐ ĞŵĞƌŐĞŶĐǇ ĚĞƉĂƌƚŵĞŶƚ ƉŚǇƐŝĐŝĂŶ Ăƚ ŵĞƌŐĞŶĐǇ DĞĚŝĐŝŶĞ WŚǇƐŝ-ĐŝĂŶƐ ŝŶ ĂŶƚŽŶ͕ KŚŝŽ͕ ĂŶĚ &ĂůŵŽƵƚŚ ,ŽƐƉŝƚĂů ŝŶ DĂƐƐĂĐŚƵƐĞƚƚƐ͘ ƌ͘ WĂƵů͛Ɛ ƉƌĞǀŝŽƵƐ ĂŶĚ ĐƵƌƌĞŶƚ ďŽĂƌĚ ƐĞƌǀŝĐĞ ŝŶĐůƵĚĞƐ͗ Ks/ Ͳϭϵ tŽƌŬŝŶŐ 'ƌŽƵƉ ŽĨ tĞƐƚĞƌŶ EĞǁ zŽƌŬ ;ŵĞĚŝĐĂů ĞǆƉĞƌƚͿ͖ h D ŵĞƌŐĞŶĐǇ DĞĚŝĐŝŶĞ͖ h D ŵĞƌŐĞŶĐǇ DĞĚŝĐŝŶĞ tŽŵĞŶ WŚǇƐŝĐŝĂŶƐ ŽŶƐŽƌƚŝƵŵ ;ĐŽŽƌĚŝŶĂƚŽƌͿ͖ 'ĂƚĞƐ sĂƐĐƵůĂƌ /ŶƐƚŝƚƵƚĞͬ ƵĨĨĂůŽ 'ĞŶĞƌĂů ,ŽƐƉŝƚĂů ;ĐŽͲĐŽŽƌĚŝŶĂƚŽƌ͕ ĚŽƉƚͲ Ͳ&ĂŵŝůǇ WƌŽŐƌĂŵͿ͖ ƚŚĞ ĂƌŽůĞ &ĞŶƚŽŶ DĞŵŽƌŝĂů &ƵŶĚ ;ĨŽƵŶĚŝŶŐ ŵĞŵďĞƌͿ͖ ĂŶĚ ƚŚĞ ŝƚǇ ŽĨ ƵĨĨĂůŽ ŵĞƌŐĞŶĐǇ DĞĚŝĐĂů ^ĞƌǀŝĐĞƐ ŽĂƌĚ͘ Dr. Paul earned her bachelor’s degree in molecular and cellular biology and a master’s degree in public ŚĞĂůƚŚ ĨƌŽŵ ƚŚĞ hŶŝǀĞƌƐŝƚǇ Ăƚ ƵĨĨĂůŽ͘ ^ŚĞ ĞĂƌŶĞĚ Ă ŵĂƐƚĞƌ͛Ɛ ĚĞŐƌĞĞ͘ ŝŶ ŵŽůĞĐƵůĂƌ ďŝŽůŽŐǇ ĨƌŽŵ ƚŚĞ hŶŝǀĞƌƐŝ-ƚǇ ŽĨ ZŽĐŚĞƐƚĞƌ͕ ĂŶĚ ŚĞƌ ŵĞĚŝĐĂů ĚĞŐƌĞĞ ĨƌŽŵ ŽǁŶƐƚĂƚĞ DĞĚŝĐĂů ĞŶƚĞƌ ŝŶ ƌŽŽŬůǇŶ ŝŶ ϭϵϵϴ͘ dŚĞ ĚĂƵŐŚƚĞƌ ŽĨ ŝŵŵŝŐƌĂŶƚƐ ĨƌŽŵ /ŶĚŝĂ͕ ƌ͘ WĂƵů ǁĂƐ ďŽƌŶ ĂŶĚ ƌĂŝƐĞĚ ŝŶ ƵĨĨĂůŽ͕ ǁŚĞƌĞ ƐŚĞ ĐƵƌƌĞŶƚůǇ ƌĞƐŝĚĞƐ͘

Cynthia Rich WŚŽŶĞ͗ ;ϳϭϲͿ ϰϳϮͲϱϮϱϰ ͲDĂŝů͗ ĐŝŶĚǇƌŝĐŚϳϭϲΛŐŵĂŝů͘ĐŽŵ

ǇŶƚŚŝĂ ZŝĐŚ ũŽŝŶĞĚ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŝŶ ϮϬϭϵ͘ ZŝĐŚ ŝƐ Ă ƌĞƚŝƌĞĚ ďĂŶŬŝŶŐ ĞǆĞĐƵƚŝǀĞ ǁŝƚŚ ŵŽƌĞ ƚŚĂŶ Ϯϱ ǇĞĂƌƐ ŽĨ ĞǆƉĞƌŝĞŶĐĞ ŝŶ ĨŝŶĂŶĐĞ͕ ƐƚƌĂƚĞŐǇ͕ ďƌĂŶĚ ĚĞǀĞůŽƉŵĞŶƚ͕ ĂŶĚ ƌĞƐŽƵƌĐĞ ŽƉƚŝŵŝǌĂƚŝŽŶ͘ ^ŚĞ ŵŽƐƚ ƌĞĐĞŶƚůǇ ŚĞůĚ ƚŚĞ ƉŽƐŝƚŝŽŶ ŽĨ ǆĞĐƵƚŝǀĞ sŝĐĞ WƌĞƐŝĚĞŶƚ͕ KƉĞƌĂƚŝŽŶĂů ǆĐĞůůĞŶĐĞ Ăƚ ǀĂŶƐ ĂŶŬ͘ ,Ğƌ ĂƌĞĂƐ ŽĨ ƌĞƐƉŽŶƐŝďŝůŝƚǇ ŝŶĐůƵĚĞĚ ĚĞƉŽƐŝƚ ĂŶĚ ůŽĂŶ ŽƉĞƌĂƚŝŽŶƐ͕ ĐƌĞĚŝƚ͕ ŵĂƌŬĞƚŝŶŐ͕ ƉƌŽĚƵĐƚ ŵĂŶĂŐĞŵĞŶƚ͕ ĂŶĚ ĨĂĐŝůŝƚŝĞƐ͘ ^ŚĞ ǁĂƐ ĂůƐŽ ƉƌĞǀŝŽƵƐůǇ ƚŚĞ ^ĞŶŝŽƌ sŝĐĞ WƌĞƐŝĚĞŶƚ ĂŶĚ ŚŝĞĨ ŽŵŵƵŶŝƚǇ ĂŶŬŝŶŐ KĨĨŝĐĞƌ Ăƚ ǀĂŶƐ͕ ǁŝƚŚ WΘ> ƌĞƐƉŽŶƐŝďŝůŝƚǇ ĨŽƌ ƚŚĞ ĂŶŬ͛Ɛ ƌĞƚĂŝů ďƌĂŶĐŚ ŶĞƚǁŽƌŬ͘ dŚƌŽƵŐŚŽƵƚ Ă ŵŽƌĞ ƚŚĂŶ ϮϬͲǇĞĂƌ ĐĂƌĞĞƌ Ăƚ DΘd ĂŶŬ͕ ZŝĐŚ ǁĂƐ ŝŶǀŽůǀĞĚ ŝŶ ĂĐƋƵŝƐŝƚŝŽŶ ŝŶƚĞŐƌĂƚŝŽŶ ĂŶĚ ƐĞƌǀĞĚ ŝŶ Ă ǀĂƌŝĞƚǇ ŽĨ ĨŝŶĂŶĐĞ͕ ŵĂƌŬĞƚŝŶŐ͕ ĂŶĚ ŽƉĞƌĂƚŝŽŶƐ ƉŽƐŝƚŝŽŶƐ͘ ZŝĐŚ ǁŽƌŬĞĚ ĂƐ ƚŚĞ sŝĐĞ WƌĞƐŝĚĞŶƚ ŽĨ ZĞƚĂŝů ĞƉŽƐŝƚƐ͕ ^ĞƌǀŝĐĞ͕ ĞůŝǀĞƌǇ͕ ĂŶĚ KƉĞƌĂƚŝŽŶƐ ĨŽƌ Ă ŶĞƚǁŽƌŬ ŽĨ ϳϬϬ ďƌĂŶĐŚĞƐ ĂĐƌŽƐƐ ĨŝǀĞ ƐƚĂƚĞƐ͘ ƐŝĚĞ ĨƌŽŵ ŚĞƌ ƉƌŽĨĞƐƐŝŽŶĂů ǁŽƌŬ ĞǆƉĞƌŝĞŶĐĞ͕ ZŝĐŚ ǁĂƐ Ă ďŽĂƌĚ ŵĞŵďĞƌ ŽĨ 'ŝůĚĂ͛Ɛ ůƵď ŽĨ tĞƐƚĞƌŶ EĞǁ zŽƌŬ ĂŶĚ Ă ƚƌƵƐƚĞĞ ŽĨ dƌŽĐĂŝƌĞ ŽůůĞŐĞ͘ ^ŚĞ ŝƐ ƉƌĞƐĞŶƚůǇ Ă ŵĞŵďĞƌ ŽĨ ƚŚĞ ŝŶǀĞƐƚŵĞŶƚ ĐŽŵŵŝƚƚĞĞ ĨŽƌ ƚŚĞ hŶŝƚ-ĞĚ ŚƵƌĐŚ ŽĨ ŚƌŝƐƚ͛Ɛ EĞǁ zŽƌŬ ŽŶĨĞƌĞŶĐĞ͘ ZŝĐŚ ĞĂƌŶĞĚ ďŽƚŚ ŚĞƌ ĂĐŚĞůŽƌ ŽĨ ^ĐŝĞŶĐĞ ĂŶĚ DĂƐƚĞƌ ŽĨ ƵƐŝŶĞƐƐ ĚŵŝŶŝƐƚƌĂƚŝŽŶ ŝŶ ĨŝŶĂŶĐĞ ĨƌŽŵ ƚŚĞ ^ƚĂƚĞ hŶŝǀĞƌƐŝƚǇ ŽĨ EĞǁ zŽƌŬ Ăƚ ƵĨĨĂůŽ͘ ^ŚĞ ĐƵƌƌĞŶƚůǇ ƌĞƐŝĚĞƐ ŝŶ ,ĂŵďƵƌŐ͕ EĞǁ zŽƌŬ͘

Ann Ziegler Sedore Vice Chair ,ŽŵĞ WŚŽŶĞ͗ ;ϯϭϱͿ ϮϯϴͲϳϭϰϰ ͲDĂŝů͗ ĂŶŶΛƐĞĚŽƌĞ͘ĐŽŵ

ŶŶ ŝĞŐůĞƌ ^ĞĚŽƌĞ ďĞĐĂŵĞ Ă ŵĞŵďĞƌ ŽĨ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŝŶ ϮϬϭϲ͕ ĂŶĚ ǁĂƐ ĞůĞĐƚĞĚ ĂƐ ǀŝĐĞ ĐŚĂŝƌ ŝŶ ϮϬϮϬ͘ ^ĞĚŽƌĞ ƌĞƚŝƌĞĚ ŝŶ ϮϬϭϲ ĂƐ ƚŚĞ ĐŚŝĞĨ ŶƵƌƐŝŶŐ ĂŶĚ ĐůŝŶŝĐĂů ƐĞƌǀŝĐĞƐ ŽĨĨŝĐĞƌ ĨŽƌ ƌŽƵƐĞ ,ŽƐƉŝƚĂů͕ ǁŚĞƌĞ ƐŚĞ ƉƌĞǀŝŽƵƐůǇ ƐĞƌǀĞĚ ĂƐ ƚŚĞ ĚŝƌĞĐƚŽƌ ŽĨ ƚŚĞ ŚŽƐƉŝƚĂůͲďĂƐĞĚ ĂƐƐŽĐŝĂƚĞ ĚĞŐƌĞĞ ƉƌŽŐƌĂŵ ŝŶ ŶƵƌƐŝŶŐ͘ ^ĞĚŽƌĞ ŚĂƐ ĂůƐŽ ŚĞůĚ ƉŽƐŝƚŝŽŶƐ ŝŶ ĂĚŵŝŶŝƐƚƌĂƚŝŽŶ ǁŝƚŚ ^hEz hƉƐƚĂƚĞ DĞĚŝĐĂů hŶŝǀĞƌƐŝƚǇ͕ ĂŶĚ ǁĂƐ Ă ŵĞŵďĞƌ ŽĨ ƚŚĞ ƚĞĂĐŚŝŶŐ ĨĂĐƵůƚǇ ĨŽƌ ^ǇƌĂĐƵƐĞ hŶŝǀĞƌƐŝƚǇ ŽůůĞŐĞ ŽĨ EƵƌƐŝŶŐ͘ ^ŚĞ ŝƐ ĐƵƌƌĞŶƚůǇ WƌĞƐŝĚĞŶƚ ŽĨ ^ĞĚŽƌĞ ŽŶƐƵůƚŝŶŐ͘ ^ŚĞ ŝƐ ƚŚĞ ƌĞĐŝƉŝĞŶƚ ŽĨ hƉƐƚĂƚĞ͛Ɛ ůŝŶŝĐĂů WĂƐƚŽƌĂů ĚƵĐĂƚŝŽŶ WƌŽŐƌĂŵƐ ŶŶƵĂů EĂŶĐǇ ĂůŚŽƵŶ ǁĂƌĚ ĨŽƌ ǆĐĞůůĞŶĐĞ ŝŶ ^ĞƌǀŝĐĞ͕ ƚŚĞ ƌŽƵƐĞ ,ŽƐƉŝƚĂů ƵǆŝůŝĂƌǇ ŝƐƚŝŶŐƵŝƐŚĞĚ ^ĞƌǀŝĐĞ ǁĂƌĚ ĂŶĚ ƚŚĞ zt ĐĂĚĞŵǇ ŽĨ ŝǀĞƌƐŝƚǇ ĐŚŝĞǀĞƌƐ͘ ^ĞĚŽƌĞ ƌĞĐĞŝǀĞĚ Ă ďĂĐŚĞůŽƌ͛Ɛ ĚĞŐƌĞĞ ĨƌŽŵ ůĚĞƌƐŽŶ ƌŽĂĚĚƵƐ ŽůůĞŐĞ͕ Ă ŵĂƐƚĞƌ͛Ɛ ĚĞŐƌĞĞ ŝŶ ŶƵƌƐŝŶŐ ĨƌŽŵ EĞǁ zŽƌŬ hŶŝǀĞƌƐŝƚǇ ĂŶĚ Ă ĚŽĐƚŽƌĂƚĞ ŝŶ ĂĚƵůƚ ĞĚƵĐĂƚŝŽŶ ĨƌŽŵ ^ǇƌĂĐƵƐĞ hŶŝǀĞƌƐŝƚǇ͘ ^ŚĞ ŝƐ Ă ƌĞƐŝĚĞŶƚ ŽĨ dƵůůǇ͕ Ez ǁŚĞƌĞ ƐŚĞ ƐĞƌǀĞƐ ĂƐ ƚŚĞ DŽĚĞƌĂƚŽƌ ŽĨ ƚŚĞ dƵůůǇ hŶŝƚĞĚ ŽŵŵƵŶŝƚǇ ŚƵƌĐŚ ĂŶĚ sŝĐĞͲWƌĞƐŝĚĞŶƚ ŽĨ ƚŚĞ dƵůůǇ &ƌĞĞ >ŝďƌĂƌǇ ŽĂƌĚ͘

DŝĐŚĂĞů ^ŚĂĨĨĞƌ ,ŽŵĞ WŚŽŶĞ͗ ;ϯϭϱͿ ϰϵϮͲϮϲϴ Ğůů͗ ;ϯϭϱͿ ϯϭϰͲϬϵϭϴ ͲDĂŝů͗ ŵŝŬĞƐŚĂĨĨĞƌϳϳΛŝĐůŽƵĚ͘ĐŽŵ DŝĐŚĂĞů ͘ ^ŚĂĨĨĞƌ ũŽŝŶĞĚ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŝŶ ϮϬϭϰ͘ ^ŚĂĨĨĞƌ ŚĂƐ ƐƉĞŶƚ ŵŽƌĞ ƚŚĂŶ ŚĂůĨ ŽĨ ŚŝƐ ĐĂƌĞĞƌ ĂƐ Ă ƐĞŶŝŽƌ ĂĚŵŝŶŝƐƚƌĂƚŽƌ ĨŽƌ ŚĞĂůƚŚ ĐĂƌĞ ƐǇƐƚĞŵƐ ĂŶĚ ŚŽƐƉŝƚĂů ŶĞƚǁŽƌŬƐ ĂĐƌŽƐƐ ĐĞŶƚƌĂů EĞǁ zŽƌŬ͘ ,Ğ ǁĂƐ ŵŽƐƚ ƌĞĐĞŶƚůǇ ƚŚĞ ǀŝĐĞ ƉƌĞƐŝĚĞŶƚ ŽĨ ĨŝƐĐĂů ĂĨĨĂŝƌƐ ĨŽƌ ^ƚ͘ :ŽƐĞƉŚ͛Ɛ ,ŽƐƉŝƚĂů ,ĞĂůƚŚ ĞŶƚĞƌ ƉƌŝŽƌ ƚŽ ŚŝƐ ƌĞƚŝƌĞŵĞŶƚ ŝŶ ϮϬϭϯ͘ ^ŚĂĨĨĞƌ ŚĂƐ ƉƌĞǀŝŽƵƐůǇ ŚĞůĚ ƐĞŶŝŽƌ ĂĚŵŝŶŝƐƚƌĂƚŝǀĞ ƉŽƐŝƚŝŽŶƐ ǁŝƚŚ DŽŚĂǁŬ sĂůůĞǇ EĞƚǁŽƌŬ͕ /ŶĐ͕͘ ǁŚĞƌĞ ŚĞ ǁĂƐ ĐŚŝĞĨ ĨŝŶĂŶĐŝĂů ŽĨĨŝĐĞƌ ĨŽƌ ƚŚĞ ƉĂƌĞŶƚ ŽƌŐĂŶŝǌĂƚŝŽŶ ŽĨ Ă ŚĞĂůƚŚ ĐĂƌĞ ƐǇƐƚĞŵ ĂŶĚ ĐŚŝĞĨ ĨŝŶĂŶĐŝĂů ŽĨĨŝĐĞƌ ǁŝƚŚ ^ƚ͘ >ƵŬĞ͛Ɛ DĞŵŽƌŝĂů ,ŽƐƉŝƚĂů ĞŶƚĞƌ͘ ^ŚĂĨĨĞƌ ŚĂƐ ƉƌĞǀŝŽƵƐůǇ ďĞĞŶ Ă ŵĞŵďĞƌ ŽĨ ƚŚĞ ,ĞĂůƚŚĐĂƌĞ ƐƐŽĐŝĂƚŝŽŶ ŽĨ EĞǁ zŽƌŬ ^ƚĂƚĞ͕ ǁŚĞƌĞ ŚĞ ƐĞƌǀĞĚ ŽŶ ƚŚĞ ĨŝŶĂŶĐĞ ĐŽŵŵŝƚƚĞĞ͖ ƚŚĞ ŵĞƌŝĐĂŶ ,ŽƐƉŝƚĂů ƐƐŽĐŝĂƚŝŽŶ͖ ƚŚĞ ,ĞĂůƚŚĐĂƌĞ &ŝŶĂŶĐŝĂů DĂŶĂŐĞŵĞŶƚ ƐƐŽĐŝĂƚŝŽŶ͖ ƚŚĞ /ƌŽƋƵŽŝƐ ,ĞĂůƚŚĐĂƌĞ ƐƐŽĐŝĂƚŝŽŶ ŽĨ EĞǁ zŽƌŬ ^ƚĂƚĞ͖ ƚŚĞ ďŽĂƌĚ ŽĨ ĚŝƌĞĐƚŽƌƐ ŽĨ ƚŚĞ ĞŶƚƌĂů EĞǁ zŽƌŬ ŚĂƉƚĞƌ ŽĨ ,&D ͖ ƚŚĞ ŵĞƌŝĐĂŶ /ŶƐƚŝƚƵƚĞ ŽĨ W Ɛ͖ ĂŶĚ ƚŚĞ EĞǁ zŽƌŬ ^ƚĂƚĞ ^ŽĐŝĞƚǇ ŽĨ W Ɛ͘ ^ŚĂĨĨĞƌ͕ Ă ƌĞƐŝĚĞŶƚ ŽĨ ^ǇƌĂĐƵƐĞ͕ Ez ŚŽůĚƐ Ă ďĂĐŚĞůŽƌ ŽĨ ƐĐŝĞŶĐĞ ĚĞŐƌĞĞ ŝŶ ĂĐĐŽƵŶƚŝŶŐ ĨƌŽŵ ^ǇƌĂĐƵƐĞ hŶŝǀĞƌƐŝƚǇ͘

Cheryl Smith Fisher Chair ,ŽŵĞ WŚŽŶĞ͗ ;ϳϭϲͿ ϴϴϭͲϳϬϮϰ Ğůů͗ ;ϳϭϲͿ ϴϲϭͲϮϮϬϵ ͲDĂŝů͗ ĐŚĞƌǇůƐŵŝƚŚĨŝƐŚĞƌΛŐŵĂŝů͘ĐŽŵ ŚĞƌǇů ^ŵŝƚŚ &ŝƐŚĞƌ ďĞĐĂŵĞ Ă ŵĞŵďĞƌ ŽĨ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŝŶ ϮϬϭϰ͕ ĂŶĚ ǁĂƐ ĞůĞĐƚĞĚ ĐŚĂŝƌ ŝŶ ϮϬϭϵ͘ &ŝƐŚĞƌ ŝƐ ĐŽƵŶƐĞů ƚŽ ƚŚĞ ƵĨĨĂůŽͲďĂƐĞĚ ůĂǁ Ĩŝƌŵ DĂŐĂǀĞƌŶ DĂŐĂǀĞƌŶ 'ƌŝŵŵ >>W͕ ǁŚĞƌĞ ƐŚĞ ƉƌĂĐƚŝĐĞƐ ŝŶ ƚŚĞ ĂƌĞĂƐ ŽĨ ĞŵƉůŽǇŵĞŶƚ ůĂǁ ĂŶĚ ƉƌŽĨĞƐƐŝŽŶĂů ƌĞƐƉŽŶƐŝďŝůŝƚǇ ĂŶĚ ŝƐ ŚĂŶĐĞůůŽƌ ŽĨ ƚŚĞ ƉŝƐĐŽƉĂů ŝŽĐĞƐĞ ŽĨ tĞƐƚĞƌŶ EĞǁ zŽƌŬ͘ ^ŚĞ ĨŽƌŵĞƌůǇ ƐĞƌǀĞĚ ĂƐ ĂŶ ƐƐŝƐƚĂŶƚ hŶŝƚĞĚ ^ƚĂƚĞƐ ƚƚŽƌŶĞǇ ŝŶ ƚŚĞ tĞƐƚĞƌŶ ŝƐƚƌŝĐƚ ŽĨ EĞǁ zŽƌŬ͘ ƉĂƐƚ ĐŚĂŝƌ ŽĨ ƚŚĞ ďŽĂƌĚ ŽĨ ĚŝƌĞĐƚŽƌƐ ŽĨ ŚŝůĚ ĂŶĚ &ĂŵŝůǇ ^ĞƌǀŝĐĞƐ ŽĨ ƌŝĞ ŽƵŶƚǇ͕ /ŶĐ͕͘ ŝŶ ϮϬϬϬ͕ ƐŚĞ ƌĞĐĞŝǀĞĚ ƚŚĂƚ ďŽĂƌĚ͛Ɛ :ŽŚŶ E͘ tĂůƐŚ :ƌ͘ ŽĂƌĚ ƉƉƌĞĐŝĂƚŝŽŶ ǁĂƌĚ ĨŽƌ ĐŽŵŵŝƚŵĞŶƚ ƚŽ ƐƚƌĞŶŐƚŚĞŶŝŶŐ ĨĂŵŝůǇ ůŝĨĞ ŝŶ ǁĞƐƚĞƌŶ EĞǁ zŽƌŬ͘ ^ŚĞ ŝƐ Ă ƉĂƐƚ ĐŚĂŝƌ ŽĨ ƚŚĞ ŽŵŵŝƚƚĞĞ ŽŶ ŚĂƌĂĐƚĞƌ ĂŶĚ &ŝƚŶĞƐƐ͕ ŝŐŚƚŚ :ƵĚŝĐŝĂů ŝƐƚƌŝĐƚ ĂŶĚ ǁĂƐ ĨŽƌŵĞƌůǇ ĐŽͲ ĐŚĂŝƌ ŽĨ ƚŚĞ EĞǁ zŽƌŬ ^ƚĂƚĞ Ăƌ ƐƐŽĐŝĂƚŝŽŶ ŽŵŵŝƚƚĞĞ ŽŶ WƌŽĨĞƐƐŝŽŶĂů ƚŚŝĐƐ͘ ^ŚĞ ŚĂƐ ƐĞƌǀĞĚ ĂƐ ǀŝĐĞ ƉƌĞƐŝĚĞŶƚ ŽĨ ƚŚĞ EĞǁ zŽƌŬ ^ƚĂƚĞ Ăƌ ƐƐŽĐŝĂƚŝŽŶ ĂŶĚ ŵĞŵďĞƌ ŽĨ ƚŚĞ ǆĞĐƵƚŝǀĞ ŽŵŵŝƚƚĞĞ ĂŶĚ ,ŽƵƐĞ ŽĨ ĞůĞŐĂƚĞƐ͘ ^ŚĞ ŝƐ ĂůƐŽ Ă ŵĞŵďĞƌ ŽĨ ƚŚĞ tŽŵĞŶ͛Ɛ Ăƌ ƐƐŽĐŝĂƚŝŽŶ͘ &ŝƐŚĞƌ ŚĂƐ ďĞĞŶ Ă ƉƌĞƐĞŶƚĞƌ Ăƚ ŵĂŶǇ ŽŶƚŝŶƵŝŶŐ >ĞŐĂů ĚƵĐĂƚŝŽŶ ƉƌŽŐƌĂŵƐ ŝŶ ƚŚĞ ĂƌĞĂƐ ŽĨ ƚŚŝĐƐ͕ EŽƚͲĨŽƌͲWƌŽĨŝƚ >Ăǁ͕ ŽŵŵĞƌĐŝĂů ĂŶĚ ŵƉůŽǇŵĞŶƚ >Ăǁ͘ ƌĞƐŝĚĞŶƚ ŽĨ ƵĨĨĂůŽ͕ Ez͕ &ŝƐŚĞƌ ŐƌĂĚƵĂƚĞĚ ĐƵŵ ůĂƵĚĞ ĨƌŽŵ ^ƚĂƚĞ hŶŝǀĞƌƐŝƚǇ ŽĨ EĞǁ zŽƌŬ Ăƚ KƐǁĞŐŽ ĂŶĚ ĐƵŵ ůĂƵĚĞ ĨƌŽŵ hŶŝǀĞƌƐŝƚǇ Ăƚ ƵĨĨĂůŽ >Ăǁ ^ĐŚŽŽů͕ ǁŚĞƌĞ ƐŚĞ ƚĂƵŐŚƚ ƌĞƐĞĂƌĐŚ ĂŶĚ ǁƌŝƚŝŶŐ͘

Carrie Whitwood WŚŽŶĞ͗ ϱϴϱͲϱϵϯͲϱϮϮϯ Ğǆƚ͘ ϭϬϭϯ ͲDĂŝů͗ ǁŚŝƚǁŽŽĚĐΛĂƌĚĞŶƚŶĞƚǁŽƌŬ͘ŽƌŐ ĂƌƌŝĞ tŚŝƚǁŽŽĚ ďĞĐĂŵĞ Ă ŵĞŵďĞƌ ŽĨ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ŽĂƌĚ ŽĨ dƌƵƐƚĞĞƐ ŝŶ ϮϬϭϴ͘ tŚŝƚǁŽŽĚ ŝƐ ƚŚĞ ǆĞĐƵƚŝǀĞ ŝƌĞĐƚŽƌ ŽĨ ƌĚĞŶƚ ^ŽůƵƚŝŽŶƐ ǁŚŽƐĞ ŵŝƐƐŝŽŶ ŝƐ ƚŽ ĐƌĞĂƚĞ ƐǇŶĞƌŐǇ ǁŝƚŚŝŶ ĂŶĚ ďĞƚǁĞĞŶ ƐǇƐƚĞŵƐ͕ ŽƌŐĂŶŝǌĂƚŝŽŶƐ͕ ĨĂŵŝůǇ ĂŶĚ ŝŶĚŝǀŝĚƵĂůƐ ƚŚĂƚ ƌĞƐƵůƚ ŝŶ Ă ƐƚƌŽŶŐ ĐƵůƚƵƌĞ ŽĨ ŚĞĂůƚŚ ĂŶĚ ƋƵĂůŝƚǇ ƐĞƌǀŝĐĞƐ ĨŽƌ ŽƵƌ ĐŽŵŵƵŶŝƚŝĞƐ͘ ^ŚĞ ŝƐ ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ƚŚĞ ŽǀĞƌĂůů ŽƉĞƌĂƚŝŽŶ ĂŶĚ ŵĂŶĂŐĞŵĞŶƚ ŽĨ ƚŚĞ ĐŽƌƉŽƌĂƚŝŽŶ͕ ĂŶĚ ůĞĂĚƐ Ă dĞĂŵ ƚŚĂƚ ǁŽƌŬƐ ƉƌŽĂĐƚŝǀĞůǇ ƚŽ ĂĚĚƌĞƐƐ ƚŚĞ ŶĞĞĚƐ ŽĨ ƚŚĞ ĐŽŵŵƵŶŝƚǇ͘ dŚƌŽƵŐŚ ŚĞƌ ƚĞŶƵƌĞ ǁŝƚŚ ƚŚĞ ŽƌŐĂŶŝǌĂƚŝŽŶ͕ ƐŚĞ ŚĂƐ ďĞĞŶ Ă ƉĂƌƚ ŽĨ ƚŚĞ ŝŶĨƌĂƐƚƌƵĐƚƵƌĞ ƚƌĂŶƐĨŽƌŵĂƚŝŽŶ ĨƌŽŵ Ă ͚ĐŽůůĂďŽƌĂƚŝŽŶ͛ ƚŽ ƌĞĐĞŝǀŝŶŐ Ez^ /ŶĐŽƌƉŽƌĂƚŝŽŶ ĂŶĚ /ŶƚĞƌŶĂů ZĞǀĞŶƵĞ ^ĞƌǀŝĐĞ ϱϬϭĐϯ ƐƚĂƚƵƐ ŝŶ ϮϬϬϱ͘ tŚŝƚǁŽŽĚ ŚŽůĚƐ Ă ĚĞŐƌĞĞ ŝŶ ďƵƐŝŶĞƐƐ ĂĚŵŝŶŝƐƚƌĂƚŝŽŶ ĨƌŽŵ ůĨƌĞĚ ^ƚĂƚĞ ŽůůĞŐĞ͘ ^ŚĞ ŝƐ Ă ϮϬϬϵ ŐƌĂĚƵĂƚĞ ŽĨ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ĨŽƌ tĞƐƚĞƌŶ ĂŶĚ ĞŶƚƌĂů EĞǁ zŽƌŬ͛Ɛ ,ĞĂůƚŚ >ĞĂĚĞƌƐŚŝƉ &ĞůůŽǁƐ WƌŽŐƌĂŵ͘ ĐƚŝǀĞůǇ ŝŶǀŽůǀĞĚ ŝŶ ƚŚĞ ůŽĐĂů͕ ƌĞŐŝŽŶĂů ĂŶĚ ^ƚĂƚĞ ůĞǀĞů ƚŽ ĂĚĚƌĞƐƐ ŚĞĂůƚŚ ŝƐƐƵĞƐ͕ tŚŝƚǁŽŽĚ ŝƐ Ă ŵĞŵďĞƌ ŽĨ ŶƵŵĞƌŽƵƐ ďŽĂƌĚƐ ĂŶĚ ĐŽŵŵŝƚƚĞĞƐ ŝŶĐůƵĚŝŶŐ͗ ůůĞŐĂŶǇ ŽƵŶƚǇ ŽŵŵƵŶŝƚǇ KƉƉŽƌƚƵŶŝƚŝĞƐ ĂŶĚ ZƵƌĂů ĞǀĞůŽƉŵĞŶƚ ŽƌƉŽƌĂƚŝŽŶ͕ ůĨƌĞĚ ^ƚĂƚĞ ŽůůĞŐĞ ŽŵŵƵŶŝƚǇ ĚǀŝƐŽƌǇ ŽŵŵŝƚƚĞĞ͕ ůůĞŐĂŶǇ ŽƵŶƚǇ ^ƵďƐƚĂŶĐĞ hƐĞ ŝƐŽƌĚĞƌ ŽŵŵŝƚƚĞĞ͕ ůůĞŐĂŶǇ ŽƵŶƚǇ hŶŝĨŝĞĚ ^ĞƌǀŝĐĞƐ͕ ^ĂĨĞ <ŝĚƐ ^ŽƵƚŚĞƌŶ dŝĞƌ Ez ŽĂůŝƚŝŽŶ͕ ĂŶĚ ƚŚĞ Ez^ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ŽŵŵƵŶŝƚǇ ĚǀŝƐŽƌǇ ŽŵŵŝƚƚĞĞ͘ ^ŚĞ ŝƐ Ă ƌĞƐŝĚĞŶƚ ŽĨ tĞůůƐǀŝůůĞ͕ Ez͘

TRUSTEE COMPOSITION - POST 2022 ANNUAL MEETING ASSUMING SLATE APPROVAL TRUSTEE POSITION AND TERMS - HEALTH FOUNDATION FOR WESTERN AND CENTRAL NEW YORK - AFTER JUNE 2022 ANNUAL MEETING

Region Seat Incumbent

AM G 2008

C C C C C C C C C W W W W W W W W W W W

1 1 1 2 2 2 3 3 3 1 1 1 1 2 2 2 3 3 3 3

9-C 19-C 2-C 3-C 13-C 15-C 8-C 11-C 17-C 1-W 20-W 10-W 18-W 14-W 12-W 5-W 6-W 7-W 4-W 16-W

Douglas Chionuma TBD D'Agostino Shaffer Jones Fiscoe Sedore McCall Dorn Battaglia Mauro Frank Klotzbach Fisher Haefner Whitwood Paul McDuffie Rich AM - Annual Meeting G - Group E - Dates of election to the Board EFR - Eligible For Renomination NLE - No Longer Eligible TBE - To be elected

AM 2009

AM 2010

AM 2011

AM 2012

AM 2013

AM 2014

E 3/12

E 3/12 E 3/11 E 3/12

AM 2016

AM 2017

E 3/15 E 3/13 E 3/14 E 3/13 E 3/14 E 3/14

E 3/10 E 3/11

E 3/10

AM 2015

E 3/13 E 3/14 E 3/13 E 3/14

E 3/12 E 3/13 E 3/12 E 3/13

E 3/16 E 3/16

E 3/15 E 3/15 E 3/15

E 3/17 E 3/17 E 3/17

E 3/17 E 3/17 E 3/16 E 3/16

AM 2018

AM 2019

E 3/18 E 3/18 E 3/18

E 3/19 E 3/19 E 3/18 E 3/19 E 3/18 E 3/18 E 3/18 E 3/18 E 3/18 E 3/18 E 3/19 E 3/19 E 3/19 E 3/19

AM 2020

AM 2021

AM 2022

E 3/21 E 3/20 E 3/21 E 3/20 E 3/21 TBE E 3/20 E 3/20 E 3/21 E 6/22 E 6/22 E 6/22 E 3/21 E 3/21 E 3/21 E 3/21 E 3/21 E 3/20 E 3/20 E 6/22 E 6/22 E 6/22 E 6/22

AM 2023

NLE NLE

AM 2024

AM 2025

EFR EFR EFR EFR

EFR EFR EFR NLE EFR

AM 2026

AM 2027

AM 2028

EFR EFR EFR

NLE NLE EFR

EFR

NLE NLE EFR

NLE

EFR EFR EFR EFR EFR

NLE EFR EFR NLE

2022 - 2023 COMMITTEE ASSIGNMENTS Executive Committee

Finance and Operations

Investment

C. Smith Fisher, Chair A. Sedore, Vice Chair C. Frank, Treasurer M. McCall, Secretary C. Whitwood, At-Large

C Frank, Chair R. D'Agostino A. Dorn L. Fiscoe K. Klotzbach C. Rich M. Shaffer

L. Fiscoe, Chair R. D'Agostino A. Dorn C. Frank K. Klotzbach C. Rich M. Shaffer

Community Impact*

Central Regional Committee

Western Regional Committee

M. McCall, Chair C. Frank J. Haefner N. OBrien-Suric, ex oficio C. Rich A. Sedore C. Smith Fisher C. Whitwood

A. Sedore, Chair C. Chionuma R. D'Agostino A. Douglas L. Fiscoe L. Jones M. McCall M. Shaffer

J. Haefner, Chair R. Battaglia A. Dorn C. Frank K. Klotzbach E. Mauro B. McDuffie S. Paul C. Rich C. Smith Fisher C. Whitwood

Audit

Governance

M. Shaffer, Chair R. D'Agostino A. Dorn L. Fiscoe C. Frank K. Klotzbach C. Rich

R. D'Agostino, Chair L. Fiscoe J. Haefner C. Smith Fisher C. Whitwood

*ALL Trustees are invited to attend CIC mtgs

6/22/2022

2022 - 2023 HFWCNY Committee Assignments_6.15.22.xlsx

Marnie Annese WƌŽŐƌĂŵ KĸĐĞƌ tŽƌŬ WŚŽŶĞ͗ ;ϯϭϱͿ ϲϳϭͲϬϬϱϳ ǆƚ͘ ϮϬϬ Ğůů͗ ;ϯϭϱͿ ϱϲϵͲϭϮϵϮ ͲDĂŝů͗ ŵĂŶŶĞƐĞΛŚĨǁĐŶǇ͘ŽƌŐ DĂƌŶŝĞ ĐĂŵĞ ƚŽ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ŝŶ ϮϬϭϴ ĂƐ Ă ƉƌŽŐƌĂŵ ŽĨĨŝĐĞƌ͘ /Ŷ ƚŚŝƐ ƌŽůĞ͕ DĂƌŶŝĞ ǁŽƌŬƐ ǁŝƚŚ ŽƌŐĂŶŝǌĂƚŝŽŶƐ ƚŚĂƚ ƐƵƉƉŽƌƚ ƚŚĞ ǁĞůůͲďĞŝŶŐ ŽĨ ǇŽƵŶŐ ĐŚŝůĚƌĞŶ ĂŶĚ ƚŚĞŝƌ ĐĂƌĞͲ ŐŝǀĞƌƐ͕ ĂƐ ǁĞůů ĂƐ ƐĞƌǀŝŶŐ ĂƐ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ůŝĂŝƐŽŶ ƚŽ ƚŚĞ &ĞůůŽǁƐ ĐƚŝŽŶ EĞƚǁŽƌŬ͘ ĚĚŝƚŝŽŶĂůůǇ͕ DĂƌͲ ŶŝĞ ĐƵƌƌĞŶƚůǇ ƐĞƌǀĞƐ ĂƐ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ZĂĐŝĂů ƋƵŝƚǇ /ŵƉĂĐƚ ŶĂůǇƐŝƐ ŽĂĐŚ͘ WƌŝŽƌ ƚŽ ũŽŝŶŝŶŐ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͕ DĂƌŶŝĞ ǁŽƌŬĞĚ ĂƐ ƉƌŽŐƌĂŵ ĐŽŽƌĚŝŶĂƚŽƌ ĨŽƌ ^ƚĂƚĞ hŶŝǀĞƌƐŝƚǇ ŽĨ EĞǁ zŽƌŬ hƉƐƚĂƚĞ DĞĚŝĐĂů hŶŝǀĞƌƐŝƚǇ ǁŚĞƌĞ ƐŚĞ ŚĞůƉĞĚ ƚŽ ĚĞǀĞůŽƉ ƐĞƌǀŝĐĞ ůĞĂƌŶŝŶŐ ĂŶĚ ŝŶƚĞƌƉƌŽĨĞƐƐŝŽŶĂů ĞĚƵĐĂƚŝŽŶĂů ŽƉƉŽƌƚƵŶŝƚŝĞƐ ĨŽƌ ƚŚĞ ŽůůĞŐĞƐ ŽĨ DĞĚŝĐŝŶĞ͕ EƵƌƐŝŶŐ͕ ,ĞĂůƚŚ WƌŽĨĞƐƐŝŽŶƐ ĂŶĚ 'ƌĂĚƵĂƚĞ ^ƚƵĚŝĞƐ Ăƚ hƉƐƚĂƚĞ DĞĚŝĐĂů hŶŝǀĞƌƐŝƚǇ͘ DĂƌŶŝĞ ŚŽůĚƐ Ă ŵĂƐƚĞƌ͛Ɛ ĚĞŐƌĞĞ ŝŶ ƉƵďůŝĐ ŚĞĂůƚŚ ĨƌŽŵ ƚŚĞ ^ƚĂƚĞ hŶŝǀĞƌƐŝƚǇ ŽĨ EĞǁ zŽƌŬ hƉƐƚĂƚĞ DĞĚŝĐĂů hŶŝͲǀĞƌƐŝƚǇ͕ ĂŶĚ Ă ĞƌƚŝĨŝĐĂƚĞ ŽĨ ĚǀĂŶĐĞĚ ^ƚƵĚŝĞƐ ŝŶ ,ĞĂůƚŚ ^ĞƌǀŝĐĞƐ DĂŶĂŐĞŵĞŶƚ ĂŶĚ WŽůŝĐǇ ĨƌŽŵ ƚŚĞ DĂǆǁĞůů ^ĐŚŽŽů Ăƚ ^ǇƌĂĐƵƐĞ hŶŝǀĞƌƐŝƚǇ͘ ^ŚĞ ŝƐ Ă ŐƌĂĚƵĂƚĞ ŽĨ ŽŚŽƌƚ ϵ ŽĨ ƚŚĞ ,ĞĂůƚŚ >ĞĂĚĞƌƐŚŝƉ &ĞůůŽǁƐ ƉƌŽŐƌĂŵ͕ ĂŶĚ ŝƐ ĂůƐŽ Ă ŵĞŵďĞƌ ŽĨ ƚŚĞ KŶŽŶĚĂŐĂ ŽƵŶƚǇ /ŶĨĂŶƚ Θ dŽĚĚůĞƌ DĞŶƚĂů ,ĞĂůƚŚ ŽŵŵŝƚƚĞĞ͘ DĂƌŶŝĞ ĞŶũŽǇƐ ƚŚĞ ŽƉƉŽƌƚƵŶŝƚǇ ƚŽ ďĞ ŽƵƚĚŽŽƌƐ ĐƌŽƐƐͲĐŽƵŶƚƌǇ ƐŬŝŝŶŐ͕ ŬĂǇĂŬŝŶŐ͕ ĐǇĐůŝŶŐ ĂŶĚ ŚŝŬŝŶŐ ǁŚĞƚŚĞƌ ŝƚ͛Ɛ ĨŽƌ ĨƵŶ ĂŶĚ ƌĞůĂǆĂƚŝŽŶ Žƌ ƚŽ ƌĂŝƐĞ ŵŽŶĞǇ ĨŽƌ ĐĂƵƐĞƐ ƐƵĐŚ ĂƐ >^͕ / ^͕ ůǌŚĞŝŵĞƌ͛Ɛ ĚŝƐͲĞĂƐĞ͕ ĐĂŶĐĞƌ Žƌ ĂŶŝŵĂů ǁĞůĨĂƌĞ͕ ĂŵŽŶŐ ŽƚŚĞƌƐ͘ DĂƌŶŝĞ ůŝǀĞƐ ŝŶ ^ǇƌĂĐƵƐĞ ǁŝƚŚ ŚĞƌ ǁŝĨĞ ĂŶĚ ďĞĂŐůĞƐ͘

Jordan BellasƐai Program KĨĨŝĐĞƌ tŽƌŬ WŚŽŶĞ͗ ϯϭϱͲϲϳϭͲϬϬϱϳ Ğǆ͘ ϮϬϮ Ğůů͗ ϱϭϴͲϮϮϭͲϲϲϴϱ ͲDĂŝů͗ ũďĞůůĂƐƐĂŝΛŚĨǁĐŶǇ͘ŽƌŐ :ŽƌĚĂŶ ĞůůĂƐƐĂŝ ũŽŝŶĞĚ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ ŝŶ ϮϬϭϴ͘ ,Ğ ŝƐ ďĂƐĞĚ Ăƚ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ^ǇƌĂĐƵƐĞ ŽĨĨŝĐĞ͘ :ŽƌĚĂŶ ŚĂƐ ǇĞĂƌƐ ŽĨ ŵĞĂƐƵƌĂďůĞ ĂĚǀŽĐĂĐǇͲƌĞůĂƚĞĚ ĞǆƉĞƌŝĞŶĐĞ͕ ĂƐ ǁĞůů ĂƐ ĞǆƚĞŶƐŝǀĞ ŝŶǀŽůǀĞŵĞŶƚ ŝŶ ĐŽŵŵƵŶŝƚǇ ŽƌŐĂŶŝǌŝŶŐ͕ ŐƌĂƐƐƌŽŽƚƐ ŵŽďŝůŝǌĂƚŝŽŶ͕ ĂŶĚ ůĞŐŝƐůĂƚŝǀĞ ƉƌŽĐĞƐƐ͘ ,Ğ ŚĂƐ ĞǆƉĞƌƚŝƐĞ ŝŶ ŽƌŐĂŶŝǌŝŶŐ ĂŶĚ ĐŽŽƌĚŝŶĂƚŝŶŐ ĞǀĞŶƚƐ ƚŽ ƉƌŽŵŽƚĞ ĂŐĞͲĨƌŝĞŶĚůǇ ĐŽŵŵƵŶŝƚŝĞƐ ďǇ ĞŶŐĂŐŝŶŐ ŽůĚĞƌ ĂĚƵůƚƐ ƚŚƌŽƵŐŚ ĨŽĐƵƐ ŐƌŽƵƉƐ ƚŚƌŽƵŐŚŽƵƚ Ăůů Ϯϵ ŵƵŶŝĐŝƉĂůŝƚŝĞƐ ŝŶ KŶĞŝĚĂ ŽƵŶƚǇ͘ :ŽƌĚĂŶ ƐĞƌǀĞĚ ĂƐ ƚŚĞ ƉƌŽũĞĐƚ ĚŝƌĞĐƚŽƌ ĨŽƌ ƚŚĞ tŽƌŬŝŶŐ &ĂŵŝůŝĞƐ WĂƌƚǇ ŝŶ ƚŚĞ ĂƉŝƚĂů ŝƐƚƌŝĐƚ ĂŶĚ ƌĂŶ ƚŽƉͲƚŝĞƌ ĐĂŵƉĂŝŐŶƐ ĨŽƌ ŽǀĞƌ Ɛŝǆ ǇĞĂƌƐ͘ /Ŷ ƚŚŝƐ ƌŽůĞ ŚĞ ŽƌŐĂŶŝǌĞĚ ĂŶĚ ƌĂŶ ǀŽůƵŶƚĞĞƌ ŽƉĞƌĂƚŝŽŶƐ͕ ĂŶĚ ŽǀĞƌƐĂǁ ƚĂƌŐĞƚŝŶŐ ĂŶĚ ĚĂƚĂ ĂŶĂůǇƐŝƐ͕ ŚŝƌŝŶŐ͕ ƚƌĂŝŶŝŶŐ ĂŶĚ ƉĂǇƌŽůů͘ :ŽƌĚĂŶ ĐŽŽƌĚŝŶĂƚĞĚ ϴϱ t&W ƉĞƚŝƚŝŽŶŝŶŐ ĐĂŵƉĂŝŐŶƐ ƐŝŵƵůƚĂͲŶĞŽƵƐůǇ ƚŚƌŽƵŐŚŽƵƚ EĞǁ zŽƌŬ ^ƚĂƚĞ͕ ƵůƚŝŵĂƚĞůǇ ƉůĂĐŝŶŐ Ăůů ϴϱ ĐĂŶĚŝĚĂƚĞƐ ŽŶ ƚŚĞ t&W ďĂůůŽƚ͘ :ŽƌĚĂŶ͛Ɛ ĞĂƌůŝĞƌ ǁŽƌŬ ǁĂƐ ĂƐ ĂŶ ĞĚƵĐĂƚŝŽŶ ŽƌŐĂŶŝǌĞƌ ĨŽƌ ƚŚĞ ůůŝĂŶĐĞ ĨŽƌ YƵĂůŝƚǇ ĚƵĐĂƚŝŽŶ ǁŚĞƌĞ ŚĞ ůĞĚ ĂŶĚ ŐƌĞǁ ƚŚĞ DŽŚĂǁŬ sĂůůĞǇ tĞ ĂŶ͛ƚ tĂŝƚ ŽĂůŝƚŝŽŶ ƚŽ ĐƌĞĂƚĞ ĨŽƌƵŵƐ͕ ƉƌĞƐƐ ĞǀĞŶƚƐ ĂŶĚ ůŽďďǇŝŶŐ ƚĞĂŵƐ ƚŽ ĂĚͲǀŽĐĂƚĞ ĨŽƌ ƉƵďůŝĐ ĞĚƵĐĂƚŝŽŶ͘ KǀĞƌ ϭ͕ϱϬϬ ƉĞŽƉůĞ ƉĂƌƚŝĐŝƉĂƚĞĚ ŝŶ ƚŚĞ ηtĞ ĂŶ͛ƚtĂŝƚ ĐĂƉƐƚŽŶĞ ĞǀĞŶƚ ŝŶ hƚŝĐĂ͕ Ez͘ DŽƐƚ ƌĞĐĞŶƚůǇ͕ :ŽƌĚĂŶ ǁĂƐ ƚŚĞ ƉƌŽũĞĐƚ ĐŽŽƌĚŝŶĂƚŽƌ ĨŽƌ >ŝǀĂďůĞ ŽŵŵƵŶŝƚŝĞƐ ŽĨ KŶĞŝĚĂ ŽƵŶƚǇ͕ ǁŚŝĐŚ ŝƐ Ă ƉĂƌƚŶĞƌƐŚŝƉ ďĞƚǁĞĞŶ KŶĞŝĚĂ ŽƵŶƚǇ͛Ɛ KĨĨŝĐĞ ĨŽƌ ƚŚĞ ŐŝŶŐ͕ ƚŚĞ WĂƌŬǁĂǇ ĞŶƚĞƌ ĂŶĚ dŚĞ ŽŵŵƵŶŝƚǇ &ŽƵŶͲ ĚĂƚŝŽŶ ŽĨ ,ĞƌŬŝŵĞƌ Θ KŶĞŝĚĂ ŽƵŶƚŝĞƐ ƚŽ ďĞĐŽŵĞ ƉĂƌƚ ŽĨ ƚŚĞ ZW EĞƚǁŽƌŬ ŽĨ ŐĞͲ&ƌŝĞŶĚůǇ ŽŵŵƵŶŝƚŝĞƐ͘ dŚƌŽƵŐŚ ŚŝƐ ǁŽƌŬ͕ :ŽƌĚĂŶ ǁĂƐ ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ďƵŝůĚŝŶŐ ĐŽĂůŝƚŝŽŶƐ ďǇ ďƌŝŶŐŝŶŐ ŽƌŐĂŶŝǌĂƚŝŽŶƐ ŽƵƚ ŽĨ ƐŝůŽƐ ĂŶĚ ĞŶŐĂŐŝŶŐ ĐŽŵŵƵŶŝƚŝĞƐ͘ tŚŝůĞ Ăƚ ƚŚĞ WĂƌŬǁĂǇ ĞŶƚĞƌ͕ :ŽƌĚĂŶ ǁĂƐ ĂůƐŽ ƉĂƌƚ ŽĨ ƚŚĞ ŐŝŶŐ Ǉ ĞƐŝŐŶ ƉƌŽũĞĐƚ͘ ,Ğ ǁĂƐ Ă ůĞĂĚ ĐŽŶƚƌŝďƵƚŽƌ ǁŝƚŚ Ă ĨŽĐƵƐ ŽŶ ĞŶŐĂŐŝŶŐ ŽůĚĞƌ ĂĚƵůƚƐ ŝŶ ƚŚĞ ǁŽƌŬ͘ :ŽƌĚĂŶ ŐƌĞǁ ƵƉ ŝŶ ĐĞŶƚƌĂů EĞǁ zŽƌŬ ĂŶĚ ƌĞƐŝĚĞƐ ŝŶ ^ǇƌĂĐƵƐĞ͘ /Ŷ ŚŝƐ ĨƌĞĞ ƚŝŵĞ͕ ŚĞ ƌŽĐŬ ĐůŝŵďƐ͕ ƉĂƌƚŝĐŝƉĂƚĞƐ ŝŶ ŵĞĚŝĞǀĂů ŵĂƌƐŚĂů ĂĐƚŝǀŝƚŝĞƐ͕ ĂŶĚ ƉůĂǇƐ ďŽĂƌĚ ŐĂŵĞƐ͘

Coralie Brown 'ƌĂŶƚƐ KĸĐĞƌ tŽƌŬ WŚŽŶĞ͗ ;ϳϭϲͿ ϴϱϮͲϯϬϯϬ ǆƚ͘ ϭϭϯ Ğůů͗ ;ϳϭϲͿ ϱϯϲͲϯϴϳϰ ͲDĂŝů͗ ĐďƌŽǁŶΛŚĨǁĐŶǇ͘ŽƌŐ ŽƌĂůŝĞ ũŽŝŶĞĚ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ĂƐ ŽĨĨŝĐĞ ŵĂŶĂŐĞƌ ŝŶ ϮϬϭϰ͕ ĂŶĚ ƐĞƌǀĞĚ ĂƐ ƚŚĞ ŐƌĂŶƚƐ ŵĂŶĂŐĞƌ ĨŽƌ Ɛŝǆ ǇĞĂƌƐ ƉƌŝŽƌ ƚŽ ďĞŝŶŐ ƉƌŽŵŽƚĞĚ ƚŽ ŐƌĂŶƚƐ ŽĨĨŝĐĞƌ ŝŶ ϮϬϮϭ͘ Ɛ ƚŚĞ ŐƌĂŶƚƐ ŽĨĨŝĐĞƌ͕ ŽƌĂůŝĞ ĐŽůůĂďŽƌĂƚĞƐ ǁŝƚŚ Ăůů ƉƌŽŐƌĂŵ ĂŶĚ ĂĚŵŝŶŝƐƚƌĂƚŝǀĞ ĂƌĞĂƐ ƚŽ ĞŶƐƵƌĞ ĞĨĨĞĐƚŝǀĞ ĂŶĚ ĞĨĨŝĐŝĞŶƚ ŐƌĂŶƚŵĂŬŝŶŐ ƉƌŽĐĞƐƐĞƐ͘ ŶĂƚŝǀĞ ŽĨ ƵĨĨĂůŽ͕ ĨŽůůŽǁŝŶŐ ĐŽůůĞŐĞ ŽƌĂůŝĞ ŵŽǀĞĚ ƚŽ >ŽƐ ŶŐĞůĞƐ ƚŽ ƉƵƌƐƵĞ Ă ĐĂƌĞĞƌ ŝŶ ƚŚĞ ĞŶƚĞƌƚĂŝŶŵĞŶƚ ƉƵďůŝĐ ƌĞůĂƚŝŽŶƐ ŝŶĚƵƐƚƌǇ͘ ƵƌŝŶŐ ŚĞƌ ƚŝŵĞ ĂǁĂǇ͕ ƐŚĞ ŚĞůĚ ƉŽƐŝƚŝŽŶƐ ǁŝƚŚ ĂŐĞŶĐŝĞƐ ƚŚĂƚ ƉƌŽŵŽƚĞĚ ƚŚĞ ŵƵƐŝĐ ĂŶĚ Ĩŝůŵ ŝŶĚƵƐƚƌǇ͕ ŝŶĐůƵĚŝŶŐ tĂůƚ ŝƐŶĞǇ ZĞĐŽƌĚƐ͘ hƉŽŶ ƌĞƚƵƌŶŝŶŐ ƚŽ ǁĞƐƚĞƌŶ EĞǁ zŽƌŬ͕ ŽƌĂůŝĞ ǁŽƌŬĞĚ ĂƐ Ă ƉƌŽũĞĐƚ ĐŽŽƌĚŝŶĂƚŽƌ ĨŽƌ EĞǁ ƌĂ ĂƉ ŽŵƉĂŶǇ ǁŚĞƌĞ ƐŚĞ ĚĞǀĞůŽƉĞĚ ĂŶĚ ŝŵƉůĞŵĞŶƚĞĚ ƉƌŽũĞĐƚ ŵĂŶĂŐĞ-ŵĞŶƚ ƚŽŽůƐ ƚŚĂƚ ƐƵƉƉŽƌƚĞĚ ƚŚĞ ŐůŽďĂů ĚĞƐŝŐŶ ƚĞĂŵ͛Ɛ ŚĞĂĚǁĞĂƌ ĂŶĚ ĂƉƉĂƌĞů ůŝŶĞƐ͘ ^ŚĞ ŚŽůĚƐ Ă ďĂĐŚĞůŽƌ ŽĨ ĂƌƚƐ ŝŶ ƉƵďůŝĐ ĐŽŵŵƵŶŝĐĂƚŝŽŶ ĨƌŽŵ ƚŚĞ ^ƚĂƚĞ hŶŝǀĞƌƐŝƚǇ ŽĨ EĞǁ zŽƌŬ ŽůůĞŐĞ Ăƚ ƵĨĨĂůŽ͘ tŚĞŶ ƐŚĞ ŝƐŶ͛ƚ ŽŶ ƚŚĞ ďĂƐĞďĂůů ĨŝĞůĚ ǁŝƚŚ ŚĞƌ ĂĐƚŝǀĞ ďŽǇƐ͕ ǇŽƵ ĐĂŶ ĨŝŶĚ ŚĞƌ ŽŶ ŚĞƌ ǇŽŐĂ ŵĂƚ͕ Žƌ ŝŶ ƚŚĞ ŝƐŶĞǇ WĂƌŬƐ͘

Steve Copps KĸĐĞ DĂŶĂŐĞƌ tŽƌŬ WŚŽŶĞ͗ ;ϳϭϲͿ ϴϱϮͲϯϬϯϬ ǆƚ͘ ϭϬϱ Ğůů͗ ;ϯϭϱͿ ϮϱϰͲϵϴϰϭ ͲDĂŝů͗ ƐĐŽƉƉƐΛŚĨǁĐŶǇ͘ŽƌŐ ^ƚĞǀĞ ũŽŝŶĞĚ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ŝŶ ϮϬϭϱ ĂƐ ĂĚŵŝŶŝƐƚƌĂƚŝǀĞ ĂƐƐŝƐƚĂŶƚ͕ ĂŶĚ ǁĂƐ ƉƌŽŵŽƚĞĚ ƚŽ ŽĨĨŝĐĞ ŵĂŶĂŐĞƌ Ă ĨĞǁ ŵŽŶƚŚƐ ůĂƚĞƌ͘ WƌŝŽƌ ƚŽ ĐŽŵŝŶŐ ƚŽ ƚŚĞ &ŽƵŶĚĂƚŝŽŶ͕ ^ƚĞǀĞ ƐƉĞŶƚ ĨŽƵƌ ǇĞĂƌƐ ďĂƐĞĚ ŝŶ EĞǁ zŽƌŬ ŝƚǇ ǁŚĞƌĞ ŚĞ ƚƌĂǀĞůĞĚ ƚŚĞ ĐŽƵŶƚƌǇ ƉĞƌĨŽƌŵŝŶŐ ŝŶ ŵĂŶǇ ƌĞŐŝŽŶĂů ƚŚĞĂƚƌĞƐ͘ /Ŷ ϮϬϭϮ͕ ŚĞ ƚƌĂŶƐŝƚŝŽŶĞĚ ĨƌŽŵ ůĂŶĚ ƚŽ ƐĞĂ͕ ƉƌŽǀŝĚŝŶŐ ŐƵĞƐƚ ĞŶƌŝĐŚŵĞŶƚ ĂƐ ĂŶ ĞŶƚĞƌƚĂŝŶĞƌ ĂďŽĂƌĚ ƚŚĞ ĨŝǀĞͲƐƚĂƌ KĐĞĂŶŝĂ ZĞŐĂƚƚĂ ĐƌƵŝƐĞ ƐŚŝƉ͘ hƉŽŶ ŚŝƐ ƌĞƚƵƌŶ ƚŽ ƵĨĨĂůŽ ŝŶ ϮϬϭϯ͕ ^ƚĞǀĞ ďĞĐĂŵĞ ƚŚĞ ďƵƐŝŶĞƐƐ ŵĂŶĂŐĞƌ ĨŽƌ ƚŚĞ ,ŝƐƚŽƌŝĐ WĂůĂĐĞ dŚĞĂƚƌĞ ŝŶ >ŽĐŬƉŽƌƚ͕ Ez͕ ǁŚĞƌĞ ŚĞ ŽǀĞƌƐĂǁ ĚĂǇͲƚŽͲĚĂǇ ŽƉĞƌĂƚŝŽŶƐ͕ ŵĂŝŶƚĂŝŶĞĚ ĚŽŶŽƌ ƌĞůĂƚŝŽŶƐ ĂŶĚ ĐŽƌƉŽƌĂƚĞ ƐƉŽŶƐŽƌͲƐŚŝƉƐ͘ ^ƚĞǀĞ ŝƐ ǀĞƌǇ ĂĐƚŝǀĞ ŝŶ ƚŚĞ ƵĨĨĂůŽ ƚŚĞĂƚƌĞ ĐŽŵŵƵŶŝƚǇ ĂŶĚ ŚĂƐ ǁŽŶ ƚŚĞ tE ͬt &K ƌƚŝĞ ǁĂƌĚ ĨŽƌ KƵƚͲ ƐƚĂŶĚŝŶŐ >ĞĂĚŝŶŐ ĐƚŽƌ ŝŶ Ă DƵƐŝĐĂů ŽŶ ƚŚƌĞĞ ŽĐĐĂƐŝŽŶƐ͘ ,Ğ ĂůƐŽ ƐĞƌǀĞƐ ŽŶ ƚŚĞ ĂĚǀŝƐŽƌǇ ďŽĂƌĚ ŽĨ ^ĞĐŽŶĚ 'ĞŶĞƌĂƚŝŽŶ dŚĞĂƚƌĞ ŽŵƉĂŶǇ͘ ^ƚĞǀĞ ŐƌĂĚƵĂƚĞĚ ĐƵŵ ůĂƵĚĞ ǁŝƚŚ Ă ďĂĐŚĞůŽƌ͛Ɛ ĚĞŐƌĞĞ ŝŶ ĨŝŶĞ ĂƌƚƐ ĨƌŽŵ ^hEz &ƌĞĚŽŶŝĂ͘ ŽƌŶ ŝŶ ^ǇƌĂĐƵƐĞ͕ Ez͕ ^ƚĞǀĞ ŝƐ ƉƌŽƵĚ ƚŽ ďĞ ƐĞƌǀŝŶŐ ďŽƚŚ ŽĨ ŚŝƐ ŚŽŵĞƚŽǁŶ ĐŽŵŵƵŶŝƚŝĞƐ͘ ,Ğ ĐƵƌƌĞŶƚůǇ ůŝǀĞƐ ŝŶ <ĞŶŵŽƌĞ͕ Ez͕ ǁŝƚŚ ŚŝƐ ǁŝĨĞ <ĞůůǇ ĂŶĚ ƚŚĞŝƌ ƚǁŽ ƐŽŶƐ͕ EŽĂŚ ĂŶĚ DŝůŽ͘

Roxanne Cuebas WƌŽŐƌĂŵ DĂŶĂŐĞƌ KĨĨŝĐĞ WŚŽŶĞ͗ ϳϭϲͲϴϱϮͲϯϬϯϬ Ğǆ͘ ϭϬϴ ŵĂŝů͗ ƌĐƵĞďĂƐΛŚĨǁĐŶǇ͘ŽƌŐ ZŽǆĂŶŶĞ ƵĞďĂƐ ũŽŝŶĞĚ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ĂƐ WƌŽŐƌĂŵ DĂŶĂŐĞƌ ŝŶ ϮϬϮϭ͘ /Ŷ ƚŚŝƐ ƌŽůĞ͕ ƐŚĞ ĂƐƐŝƐƚƐ ŝŶ ĂƐͲ ƐĞƐƐŝŶŐ ŝŶĐŽŵŝŶŐ ŐƌĂŶƚ ƌĞƋƵĞƐƚƐ͕ ĚĞǀĞůŽƉƐ ƌĞĐŽŵŵĞŶĚĂƚŝŽŶƐ͕ ĂŶĚ ƉƌĞƐĞŶƚƐ ƉƌŽŵŝƐŝŶŐ ƉƌŽƉŽƐĂůƐ ĨŽƌ ĨƵŶĚŝŶŐ ĂƉƉƌŽǀĂů ĂĐƌŽƐƐ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ϭϲͲĐŽƵŶƚǇ ƌĞŐŝŽŶ͘ ^ŚĞ ĂůƐŽ ŵŽŶŝƚŽƌƐ ĂŶĚ ŽǀĞƌƐĞĞƐ ĨƵŶĚĞĚ ƉƌŽũĞĐƚƐ ĂĐƌŽƐƐ ĐĞŶƚƌĂů ĂŶĚ ǁĞƐƚĞƌŶ EĞǁ zŽƌŬ͘ WƌŝŽƌ ƚŽ ũŽŝŶŝŶŐ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ͕ ZŽǆĂŶŶĞ ǁĂƐ Ă WƌŽũĞĐƚ ĚŵŝŶŝƐƚƌĂƚŽƌ / ĨŽƌ ĂƚŚŽůŝĐ ,ĞĂůƚŚ͛Ɛ ŽŵŵƵͲŶŝƚǇ WĂƌƚŶĞƌƐ ŽĨ tĞƐƚĞƌŶ EĞǁ zŽƌŬ ; WtEzͿ͕ ǁŚĞƌĞ ƐŚĞ ŵĂŶĂŐĞĚ ƐĞǀĞƌĂů ƉƌŽũĞĐƚƐ ƚŽ ŝŵƉƌŽǀĞ ƚŚĞ ŚĞĂůƚŚ ĂŶĚ ǁĞůůͲďĞŝŶŐ ŽĨ ƚŚĞ DĞĚŝĐĂŝĚ ƉŽƉƵůĂƚŝŽŶ͘ ^ƉĞĐŝĨŝĐ ĂƌĞĂƐ ŽĨ ĨŽĐƵƐ ŝŶĐůƵĚĞ ƚŚĞ ŝŶƚĞŐƌĂƚŝŽŶ ŽĨ ďĞŚĂǀŝŽƌĂů ŚĞĂůƚŚ ĂŶĚ ƉƌŝŵĂƌǇ ĐĂƌĞ͕ ƚĞůĞŵĞĚŝĐŝŶĞ͕ ƉĂůůŝĂƚŝǀĞ ĐĂƌĞ͕ ĂŶĚ Ks/ ZĂƉŝĚ ZĞůŝĞĨ ƉƌŽũĞĐƚƐ͘ WƌŝŽƌ ƚŽ WtEz͕ ZŽǆĂŶŶĞ ǁĂƐ Ă ƚĞĂŵ ŵĞŵďĞƌ ǁŝƚŚ ƌŝĞ ŽƵŶƚǇ ĞƉĂƌƚŵĞŶƚ ŽĨ ^ĞŶŝŽƌ ^ĞƌǀŝĐĞƐ ǁŚĞƌĞ ƐŚĞ ǁĂƐ ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ƚŚĞ ŝŵƉůĞŵĞŶƚĂƚŝŽŶ ŽĨ ƚŚĞ ŚƌŽŶŝĐ ŝƐĞĂƐĞ ĂŶĚ ŝĂďĞƚĞƐ ^ĞůĨͲDĂŶĂŐĞŵĞŶƚ WƌŽŐƌĂŵƐ͕ ŝŶĐůƵĚŝŶŐ ĐŽŵŵƵͲŶŝƚǇ ŽƵƚƌĞĂĐŚ ĂŶĚ ƉƌŽŵŽƚŝŶŐ ĚĞƉĂƌƚŵĞŶƚ ƐĞƌǀŝĐĞƐ͘ WƌĞǀŝŽƵƐ ĐŽŵŵƵŶŝƚǇ ƉƌĞƐĞŶƚĂƚŝŽŶƐ ŐŝǀĞŶ ďǇ ZŽǆĂŶŶĞ ŝŶĐůƵĚĞ ͞dĞůĞŵĞĚŝĐŝŶĞ͗ ZĞĚĞƐŝŐŶŝŶŐ ĂƌĞ ĞůŝǀĞƌǇ͟ Ăƚ ƚŚĞ ^Z/W >ĞĂƌŶŝŶŐ ^ǇŵƉŽƐŝƵŵ͖ ĂŶĚ ͞/ŶƚĞŐƌĂƚŝŽŶ ŝƐ EŽƚ ͚KŶĞ ^ŝǌĞ &ŝƚƐ ůů͛͟ Ăƚ ƚŚĞ EĞǁ zŽƌŬ DĞĚŝĐĂŝĚ WŽƉƵͲ ůĂƚŝŽŶ ,ĞĂůƚŚ ^ǇŵƉŽƐŝƵŵ͘ ZŽǆĂŶŶĞ ŚŽůĚƐ Ă ďĂĐŚĞůŽƌ͛Ɛ ĚĞŐƌĞĞ ŝŶ ŚĞĂůƚŚ ĂŶĚ ǁĞůůŶĞƐƐ ĂŶĚ Ă ŵĂƐƚĞƌ͛Ɛ ĚĞŐƌĞĞ ŝŶ ƉƵďůŝĐ ĂĚŵŝŶŝƐƚƌĂƚŝŽŶ͕ ďŽƚŚ ĨƌŽŵ ƵĨĨĂůŽ ^ƚĂƚĞ ŽůůĞŐĞ͘ ^ŚĞ ƌĞƐŝĚĞƐ ŝŶ ƵĨĨĂůŽ͘

Leslie Daniel ǆĞĐƵƟǀĞ ƐƐŝƐƚĂŶƚ ƚŽ ƚŚĞ WƌĞƐŝĚĞŶƚ tŽƌŬ WŚŽŶĞ͗ ;ϳϭϲͿ ϴϱϮͲϯϬϯϬ ǆƚ͘ ϭϬϬ Ğůů͗ ;ϳϭϲͿ ϱϱϯͲϬϳϵϮ ͲDĂŝů͗ ůĚĂŶŝĞůΛŚĨǁĐŶǇ͘ŽƌŐ >ĞƐůŝĞ ĐĂŵĞ ƚŽ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ ŝŶ ϮϬϭϳ ĂƐ ŽƵƌ ŽƉĞƌĂƚŝŽŶƐ ĐŽŽƌĚŝŶĂƚŽƌ͕ ĂŶĚ ŝŶ ϮϬϭϴ ǁĂƐ ŶĂŵĞĚ ĞǆĞĐƵƚŝǀĞ ĂƐƐŝƐƚĂŶƚ ƚŽ ƚŚĞ ƉƌĞƐŝĚĞŶƚ͘ ^ŚĞ ďƌŝŶŐƐ ǁŝƚŚ ŚĞƌ ŵŽƌĞ ƚŚĂŶ ϯϯ ǇĞĂƌƐ ŽĨ ĂĚŵŝŶŝƐƚƌĂƚŝǀĞ ĞǆƉĞƌŝĞŶĐĞ ŝŶ ƚŚĞ ŶŽƚͲĨŽƌͲƉƌŽĨŝƚ ƐĞĐƚŽƌ͘ WƌŝŽƌ ƚŽ ũŽŝŶŝŶŐ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ͕ >ĞƐůŝĞ ǁĂƐ ǁŝƚŚ ƚŚĞ ŵĞƌŝĐĂŶ ZĞĚ ƌŽƐƐ tĞƐƚĞƌŶ EĞǁ zŽƌŬ ŚĂƉƚĞƌ͕ ǁŚĞƌĞ ƐŚĞ ǁĂƐ ŵŽƐƚ ƌĞĐĞŶƚůǇ ĂŶ ĞǆĞĐƵƚŝǀĞ ĐŽŽƌĚŝŶĂƚŽƌ ĨŽƌ ƚŚĞ ĞǆĞĐƵƚŝǀĞ ŽĨĨŝĐĞ͘ /Ŷ ƚŚŝƐ ƌŽůĞ ƐŚĞ ŵĂŶĂŐĞĚ ƚŚĞ ĚĂŝůǇ ŽƉĞƌĂƚŝŽŶƐ ŽĨ ƚŚĞ ĞǆĞĐƵƚŝǀĞ ŽĨĨŝĐĞ͕ ŝŶĐůƵĚŝŶŐ ƉƌŽǀŝĚŝŶŐ ƐƵƉƉŽƌƚ ƚŽ ƚŚĞ ĞǆĞĐƵƚŝǀĞ ĚŝƌĞĐƚŽƌ ĂŶĚ ƐĞŶŝŽƌ ŵĂŶĂŐĞƌƐ͘ tŚŝůĞ Ăƚ ƚŚĞ ŵĞƌŝĐĂŶ ZĞĚ ƌŽƐƐ͕ >ĞƐůŝĞ ĂůƐŽ ŚĞůĚ ƉŽƐŝƚŝŽŶƐ ǁŝƚŚŝŶ ,ĞĂůƚŚ͕ ^ĂĨĞƚǇ ĂŶĚ ŽŵŵƵŶŝ-ƚǇ ^ĞƌǀŝĐĞƐ͕ ,ĞĂůƚŚ ĂŶĚ ^ĂĨĞƚǇ ĂŶĚ ,/s ^ĞƌǀŝĐĞƐ ĂŶĚ ƚŚĞ ůŽŽĚ ^ĞƌǀŝĐĞƐ ŝǀŝƐŝŽŶƐ͘ ^ŚĞ ŚĂƐ ĂŶ ĂƐƐŽĐŝĂƚĞ ĚĞŐƌĞĞ ŝŶ ƉĂƌĂůĞŐĂů ĂƐƐŝƐƚĂŶĐĞ ĨƌŽŵ ƌŝĞ ŽŵŵƵŶŝƚǇ ŽůůĞŐĞ͘ >ĞƐůŝĞ ůŝǀĞƐ ŝŶ ƵĨĨĂůŽ͕ Ez͘

Ken Genewick WƌŽŐƌĂŵ KĸĐĞƌ ĨŽƌ ĂƌĞŐŝǀŝŶŐ tŽƌŬ WŚŽŶĞ͗ ;ϳϭϲͿ ϴϱϮͲϯϬϯϬ ǆƚ͘ ϭϬϯ Ğůů͗ ;ϳϭϲͿ ϵϰϬͲϲϴϭϴ ͲDĂŝů͗ ŬŐĞŶĞǁŝĐŬΛŚĨǁĐŶǇ͘ŽƌŐ <ĞŶ ũŽŝŶĞĚ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƟŽŶ ŝŶ ϮϬϭϴ ĂƐ ƉƌŽŐƌĂŵ ŽĸĐĞƌ ĨŽƌ ĐĂƌĞŐŝǀŝŶŐ͘ dŚŝƐ ƉŽƐŝƟŽŶ͕ ĐƌĞĂƚĞĚ ƚŚƌŽƵŐŚ ĂŶ ĞŶĚŽǁŵĞŶƚ ŐƌĂŶƚ ĨƌŽŵ ƚŚĞ ZĂůƉŚ ͘ tŝůƐŽŶ :ƌ͘ &ŽƵŶĚĂƟŽŶ͕ ƌĞĐŽŐŶŝǌĞƐ ƚŚĞ ŝŵƉŽƌƚĂŶƚ ƌŽůĞ ƚŚĂƚ ĨƌŝĞŶĚƐ͕ ĨĂŵŝůǇ ĂŶĚ ƉƌŽĨĞƐƐŝŽŶĂů ĐĂƌĞŐŝǀĞƌƐ ƉůĂǇ ŝŶ ƚŚĞ ůŝǀĞƐ ŽĨ ŽůĚĞƌ ĂĚƵůƚƐ ĂŶĚ ĐŽŵŵƵŶŝƟĞƐ͘ /Ŷ ƚŚŝƐ ƌŽůĞ͕ <ĞŶ ǁŽƌŬƐ ƚŽ ĚĞǀĞůŽƉ ĂŶĚ ƐƵƉƉŽƌƚ ƉƌŽŐƌĂŵƐ ƚŚĂƚ ƌĞĐŽŐŶŝǌĞ ĂŶĚ ĂĚĚƌĞƐƐ ƚŚĞ ƵŶŝƋƵĞ ĐŚĂůůĞŶŐĞƐ ĂŶĚ ŶĞĞĚƐ ŽĨ ĐĂƌĞŐŝǀĞƌƐ ŝŶ ŽƵƌ ĐŽŵŵƵŶŝƚǇ͘ WƌŝŽƌ ƚŽ ũŽŝŶŝŶŐ ƚŚĞ &ŽƵŶĚĂƟŽŶ͕ ŚĞ ǁĂƐ ƚŚĞ ĚŝƌĞĐƚŽƌ ŽĨ ƚŚĞ EŝĂŐĂƌĂ ŽƵŶƚǇ KĸĐĞ ĨŽƌ ƚŚĞ ŐŝŶŐ ĨŽƌ ƐĞǀĞŶ ǇĞĂƌƐ͘ /Ŷ ƚŚŝƐ ƌŽůĞ͕ <ĞŶ ůĞĚ ƚŚĞ ŽƌŐĂŶŝǌĂƟŽŶ͛Ɛ ĞīŽƌƚƐ ƚŽ ƉƌŽŵŽƚĞ ŝŶĚĞƉĞŶĚĞŶĐĞ ĂŶĚ ƋƵĂůŝƚǇ ŽĨ ůŝĨĞ ďǇ ƉƌŽǀŝĚŝŶŐ ĐŽŵŵƵŶŝƚǇͲďĂƐĞĚ ƐĞƌǀŝĐĞƐ ƚŽ ŽůĚĞƌ ĂĚƵůƚƐ ĂŶĚ ĐĂƌĞŐŝǀĞƌƐ͘ ,Ğ ĐƵƌƌĞŶƚůǇ ƐĞƌǀĞƐ ŽŶ ƚŚĞ ďŽĂƌĚ ŽĨ ƚŚĞ tĞƐƚĞƌŶ EĞǁ zŽƌŬ /ŶƚĞŐƌĂƚĞĚ ĂƌĞ ŽůůĂďŽƌĂƟǀĞ͘ ,Ğ ƉƌĞǀŝŽƵƐůǇ ƐĞƌǀĞĚ ĂƐ Ă ŵĞŵďĞƌ ŽĨ ƚŚĞ ďŽĂƌĚ ŽĨ ĚŝƌĞĐƚŽƌƐ ŽĨ ƚŚĞ ƐƐŽĐŝĂƟŽŶ ŽŶ ŐŝŶŐ ŝŶ EĞǁ zŽƌŬ ĨƌŽŵ ϮϬϭϰͲϮϬϭϱ͖ ĂŶ ĂůĚĞƌŵĂŶ ŽŶ ƚŚĞ ŝƚǇ ŽĨ >ŽĐŬƉŽƌƚ ŽŵŵŽŶ ŽƵŶĐŝů ĨƌŽŵ ϮϬϭϬͲϮϬϭϱ͖ ĂŶĚ Ă ďŽĂƌĚ ŵĞŵďĞƌ ŽĨ ƚŚĞ 'ƌĞĂƚĞƌ >ŽĐŬƉŽƌƚ ĞǀĞůŽƉŵĞŶƚ ŽƌƉŽƌĂƟŽŶ͘ <ĞŶ ĞĂƌŶĞĚ Ă ďĂĐŚĞůŽƌ͛Ɛ ĚĞŐƌĞĞ ŝŶ ŵĂƌŬĞƟŶŐ ĂŶĚ Ă ŵĂƐƚĞƌ͛Ɛ ĚĞŐƌĞĞ ŝŶ ďƵƐŝŶĞƐƐ ĂĚŵŝŶŝƐƚƌĂƟŽŶ ĨƌŽŵ ƚŚĞ ^ƚĂƚĞ hŶŝǀĞƌƐŝƚǇ ŽĨ EĞǁ zŽƌŬ Ăƚ ƵīĂůŽ͘ ,Ğ ůŝǀĞƐ ŝŶ >ŽĐŬƉŽƌƚ͕ Ez͕ ǁŝƚŚ ŚŝƐ ǁŝĨĞ DŝĐŚĞůůĞ ĂŶĚ ƚŚĞŝƌ ƚŚƌĞĞ ƐŽŶƐ͕ >ƵŬĞ͕ ,ĞŶƌǇ͕ ĂŶĚ :ƵĚĞ͘

Kerry Jones Waring sŝĐĞ WƌĞƐŝĚĞŶƚ ĨŽƌ ŽŵŵƵŶŝĐĂƚŝŽŶƐ tŽƌŬ WŚŽŶĞ͗ ;ϳϭϲͿ ϴϱϮͲϯϬϯϬ Ğǆ͘ ϭϬϳ Ğůů͗ ;ϳϭϲͿ ϯϴϬͲϳϯϭϵ ͲDĂŝů͗ ŬũǁĂƌŝŶŐΛŚĨǁĐŶǇ͘ŽƌŐ <ĞƌƌǇ :ŽŶĞƐ tĂƌŝŶŐ ũŽŝŶĞĚ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƟŽŶ ĨŽƌ tĞƐƚĞƌŶ ĂŶĚ ĞŶƚƌĂů EĞǁ zŽƌŬ ŝŶ ϮϬϭϵ͘ /Ŷ ƚŚŝƐ ƌŽůĞ͕ <ĞƌƌǇ ŽǀĞƌƐĞĞƐ ƚŚĞ ƐƚƌĂƚĞŐǇ͕ ŵĂŶĂŐĞŵĞŶƚ ĂŶĚ ŝŵƉůĞŵĞŶƚĂƟŽŶ ŽĨ Ăůů ĐŽŵŵƵŶŝĐĂƟŽŶƐ ĂŶĚ ƉƵďůŝĐ ƌĞůĂƟŽŶƐ ŝŶŝƚŝĂƚŝǀĞƐ ŝŶ ƐƵƉƉŽƌƚ ŽĨ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƚŝŽŶ͛Ɛ ŵŝƐƐŝŽŶ͘ <ĞƌƌǇ ďƌŝŶŐƐ ŵŽƌĞ ƚŚĂŶ ϭϳ ǇĞĂƌƐ ŽĨ ĞǆƉĞƌŝĞŶĐĞ ŝŶ ŚĞĂůƚŚ ĐĂƌĞ ĂŶĚ ŶŽŶƉƌŽĨŝƚ ĐŽŵŵƵŶŝĐĂƚŝŽŶƐ ƚŽ ŚĞƌ ƌŽůĞ͘ WƌĞǀŝŽƵƐůǇ͕ ƐŚĞ ƉƌŽǀŝĚĞĚ ƐƚƌĂƚĞŐŝĐ ŵĂƌŬĞƟŶŐ ƐĞƌǀŝĐĞƐ ƚŽ Ă ǀĂƌŝĞƚǇ ŽĨ ĐůŝĞŶƚƐ ƚŚƌŽƵŐŚ ŚĞƌ Įƌŵ͕ <:t ŽŵŵƵŶŝĐĂƟŽŶƐ͘ ,Ğƌ ƉƌĞǀŝŽƵƐ ĞǆƉĞƌŝĞŶĐĞ ĂůƐŽ ŝŶĐůƵĚĞƐ ƐĞƌǀŝŶŐ ĂƐ ŵĂƌŬĞƟŶŐ ĐŽŵŵƵŶŝĐĂƟŽŶƐ ŵĂŶĂŐĞƌ Ăƚ ƚŚĞ hŶŝǀĞƌƐŝƚǇ Ăƚ ƵīĂůŽ͛Ɛ EĞǁ zŽƌŬ ^ƚĂƚĞ ĞŶƚĞƌ ŽĨ ǆĐĞůůĞŶĐĞ ŝŶ ŝŽŝŶĨŽƌŵĂƟĐƐ ĂŶĚ >ŝĨĞ ^ĐŝĞŶĐĞƐ͕ ĂŶĚ ƐĞŶŝŽƌ ĐŽŵŵƵŶŝĐĂƚŝŽŶƐ ĐŽŽƌĚŝŶĂƚŽƌ Ăƚ ƚŚĞ ZŽƐǁĞůů WĂƌŬ ůůŝĂŶĐĞ &ŽƵŶĚĂƚŝŽŶ͘ ^ŚĞ ŚŽůĚƐ Ă ďĂĐŚĞůŽƌ͛Ɛ ĚĞŐƌĞĞ ŝŶ ĐƌĞĂƚŝǀĞ ǁƌŝƚŝŶŐ ĨƌŽŵ WƌĂƚƚ /ŶƐƚŝƚƵƚĞ͘ ^ŚĞ ŝƐ Ă ǀŽůƵŶƚĞĞƌ ǁŝƚŚ :ƵƐƚ ƵĨĨĂůŽ tƌŝƚŝŶŐ ĞŶƚĞƌ͕ ĂŶ ŽƌŐĂŶŝǌĂƚŝŽŶ ƚŚĂƚ ĞŵƉŽǁĞƌƐ ǇŽƵŶŐ ƉĞŽƉůĞ ƚŚƌŽƵŐŚ ůŝƚĞƌĂƌǇ ƉƌŽŐƌĂŵƐ ĂŶĚ ǁŽƌŬƐŚŽƉƐ͘ <ĞƌƌǇ ůŝǀĞƐ ŝŶ 'ĞƚǌǀŝůůĞ͕ Ez͕ ǁŝƚŚ ŚĞƌ ŚƵƐďĂŶĚ͕ dŽŵ͕ ĂŶĚ ƚŚĞŝƌ ƚǁŽ ƐŽŶƐ͘

Nora OBrien-Suric, Ph.D. President tŽƌŬ WŚŽŶĞ͗ ;ϳϭϲͿ ϴϱϮͲϯϬϯϬ ǆƚ͘ ϭϬϭ Ğůů͗ ;ϵϭϳͿ ϳϭϬͲϮϬϯϰ ͲDĂŝů͗ ŶŽďƐƵƌŝĐΛŚĨǁĐŶǇ͘ŽƌŐ EŽƌĂ K ƌŝĞŶͲ^ƵƌŝĐ͕ WŚ͘ ͕͘ ďĞĐĂŵĞ ƚŚĞ ƉƌĞƐŝĚĞŶƚ ŽĨ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƟŽŶ ĨŽƌ tĞƐƚĞƌŶ ĂŶĚ ĞŶƚƌĂů EĞǁ zŽƌŬ ŝŶ ϮϬϭϳ͘ ^ŚĞ ŚĂƐ ŽǀĞƌ ϮϬ ǇĞĂƌƐ ŽĨ ĞǆƉĞƌŝĞŶĐĞ ŝŶ ƉŚŝůĂŶƚŚƌŽƉǇ͖ ǁŝƚŚ dŚĞ :ŽŚŶ ͘ ,ĂƌƞŽƌĚ &ŽƵŶĚĂƟŽŶ ĂŶĚ dŚĞ ƌŽŽŬĚĂůĞ &ŽƵŶĚĂƟŽŶ͘ ŽƚŚ ĨŽƵŶĚĂƟŽŶƐ ƉƌŽǀŝĚĞ ĨƵŶĚŝŶŐ ŶĂƟŽŶĂůůǇ ƚŽ ƐƵƉƉŽƌƚ ƐĞƌǀŝĐĞƐ ƚŚĂƚ ĞŶŚĂŶĐĞ ƚŚĞ ƋƵĂůŝƚǇ ŽĨ ůŝĨĞ ĂŶĚ ŚĞĂůƚŚĐĂƌĞ ĨŽƌ ŽůĚĞƌ ĂĚƵůƚƐ ĂŶĚ ƚŚĞŝƌ ĐĂƌĞŐŝǀĞƌƐ͘ ĂƌůŝĞƌ ŝŶ ŚĞƌ ĐĂƌĞĞƌ͕ ƌ͘ K ƌŝĞŶͲ^ƵƌŝĐ ǁŽƌŬĞĚ ǁŝƚŚ ĐŽŵŵƵŶŝƚǇͲďĂƐĞĚ ŽƌŐĂŶŝǌĂƟŽŶƐ ĨŽĐƵƐĞĚ ŽŶ ƐĞƌǀŝĐĞƐ ƚŽ ŽůĚĞƌ ĂĚƵůƚƐ͕ ŝŶĐůƵĚŝŶŐ ƚŚĞ EĞǁ zŽƌŬ ŝƚǇ ĞƉĂƌƚŵĞŶƚ ĨŽƌ ƚŚĞ ŐŝŶŐ ĂŶĚ ƚŚĞ /ŶƐƟƚƵƚĞ ŽŶ >Ăǁ ĂŶĚ ZŝŐŚƚƐ ĨŽƌ KůĚĞƌ ĚƵůƚƐ͘ ƌ͘ K ƌŝĞŶͲ^ƵƌŝĐ ĞƐƚĂďůŝƐŚĞĚ ƚŚĞ ƉŽƐŝƟŽŶ ŽĨ ŝƌĞĐƚŽƌ ŽĨ EĂƟŽŶĂů ĂŶĚ /ŶƚĞƌŶĂů WĂƌƚŶĞƌƐŚŝƉ Ăƚ ƚŚĞ /ŶƚĞƌŶĂƟŽŶĂů >ŽŶŐĞǀŝƚǇ ĞŶƚƌĞ 'ůŽďĂů ůůŝĂŶĐĞ͖ ĂŶĚ ƐĞƌǀĞĚ ĂƐ ƚŚĞ ǀŝĐĞ ĐŚĂŝƌ ŽĨ ƚŚĞ hŶŝƚĞĚ EĂƟŽŶƐ E'K ŽŵŵŝƩĞĞ ŽŶ ŐĞŝŶŐ͕ ǁŚŝĐŚ ƉƌŽǀŝĚĞĚ ĐŽŶƐƵůƚĂƟŽŶ ƚŽ ƚŚĞ ĚĞǀĞůŽƉŵĞŶƚ ŽĨ ƚŚĞ hŶŝƚĞĚ EĂƟŽŶƐ /ŶƚĞƌŶĂƟŽŶĂů WůĂŶ ŽŶ ĐƟŽŶ ŽŶ ŐĞŝŶŐ ŝŶ ϮϬϬϮ͘ ƌ͘ K ƌŝĞŶͲ^ƵƌŝĐ ŚŽůĚƐ Ă ĚŽĐƚŽƌĂů ĚĞŐƌĞĞ ŝŶ ƐŽĐŝĂů ǁĞůĨĂƌĞ ĨƌŽŵ ,ƵŶƚĞƌ ŽůůĞŐĞ ^ĐŚŽŽů ŽĨ ^ŽĐŝĂů tŽƌŬ͕ Ă ŵĂƐƚĞƌ͛Ɛ ĚĞŐƌĞĞ ŝŶ ŐĞƌŽŶƚŽůŽŐǇ ĨƌŽŵ ƚŚĞ ĂůŝĨŽƌŶŝĂ ^ƚĂƚĞ hŶŝǀĞƌƐŝƚǇ Ăƚ ŽŵŝŶŐƵĞǌ ,ŝůůƐ͕ ĂŶĚ Ă ĐĞƌƟĮĐĂƚĞ ŝŶ ŐĞƌŝĂƚƌŝĐ ŵĞŶƚĂů ŚĞĂůƚŚ ĐŽƵŶƐĞůŝŶŐ ĨƌŽŵ ƚŚĞ hŶŝǀĞƌƐŝƚǇ ŽĨ ^ŽƵƚŚĞƌŶ ĂůŝĨŽƌŶŝĂ ĂǀŝƐ ^ĐŚŽŽů͘ EŽƌĂ ĂŶĚ ŚĞƌ ŚƵƐďĂŶĚ͕ ƌĂŐĂŶ͕ ƌĞůŽĐĂƚĞĚ ƚŽ ƵīĂůŽ ĨƌŽŵ EĞǁĂƌŬ͕ E: ŝŶ ϮϬϭϳ͘ ĞŝŶŐ ŶĞǁ ƚŽ ƵīĂůŽ͕ ƚŚĞǇ ŚĂǀĞ ůĞĂƌŶĞĚ ĮƌƐƚŚĂŶĚ ǁŚǇ ŝƚ ĚĞƐĞƌǀĞƐ ŝƚƐ ƌĞƉƵƚĂƟŽŶ ĂƐ ƚŚĞ ͞ ŝƚǇ ŽĨ 'ŽŽĚ EĞŝŐŚďŽƌƐ͘͟ EŽƌĂ ĂŶĚ ƌĂŐĂŶ ĂƌĞ ĨĂŶƐ ŽĨ ƵīĂůŽ͛Ɛ ǁĞĂƚŚĞƌ͕ ƚŽŽ͕ ĂŶĚ ŵĂŬĞ ƚŚĞ ŵŽƐƚ ŽĨ ŝƚ ďǇ ĐƌŽƐƐͲĐŽƵŶƚƌǇ ƐŬŝŝŶŐ͕ ŐĂƌĚĞŶŝŶŐ ĂŶĚ ďŝĐǇĐůŝŶŐ͘ tŚĞŶ ŶŽƚ ŝŶ ƵīĂůŽ͕ ƚŚĞǇ ĂƌĞ ƐƉĞŶĚŝŶŐ ƟŵĞ ǁŝƚŚ ƚŚĞŝƌ ĨĂŵŝůŝĞƐ ŝŶ ĂŬĂƌ ^ĞŶĞŐĂů͕ ůĞǀĞůĂŶĚ KŚŝŽ ĂŶĚ EĞǁ :ĞƌƐĞǇ͘

Kent A.H. Olden ŽŵŵƵŶŝĐĂƚŝŽŶƐ ŽŶƚĞŶƚ DĂŶĂŐĞƌ tŽƌŬ WŚŽŶĞ͗ ;ϳϭϲͿ ϴϱϮͲϯϬϯϬ ǆƚ͘ ϭϬϵ ŵĂŝů͗ ŬŽůĚĞŶΛŚĨǁĐŶǇ͘ŽƌŐ <ĞŶƚ KůĚĞŶ ũŽŝŶĞĚ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƟŽŶ ƚĞĂŵ ŝŶ ϮϬϮϬ ĂƐ ŽŵŵƵŶŝĐĂƟŽŶƐ ŽŶƚĞŶƚ DĂŶĂŐĞƌ͘ /Ŷ ƚŚŝƐ ƌŽůĞ͕ <ĞŶƚ ŵĂŶĂŐĞƐ ƚŚĞ ĐƌĞĂƟŽŶ ŽĨ ƌĞůĞǀĂŶƚ ĐŽŵŵƵŶŝĐĂƟŽŶƐ ĐŽŶƚĞŶƚ ǁŚŝůĞ ĞŶƐƵƌŝŶŐ ƚŚĞ ƉƌŽƉĞƌ ĞǆĞĐƵƟŽŶ ŽĨ ƉƵďůŝĐ ƌĞůĂƟŽŶƐ ŝŶŝƟĂƟǀĞƐ ƚŚĂƚ ĂůŝŐŶ ǁŝƚŚ ĂŶĚ ƐƵƉƉŽƌƚ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƟŽŶ͛Ɛ ƐƚƌĂƚĞŐŝĐ ƉůĂŶ͘ ,Ğ ĂůƐŽ ĚĞǀĞůŽƉƐ ĐŽŶƚĞŶƚ ĨŽƌ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƟŽŶ͛Ɛ ǁĞďƐŝƚĞ ĂŶĚ ƐŽĐŝĂů ŵĞĚŝĂ ƉůĂƞŽƌŵƐ͘ WƌŝŽƌ ƚŽ ũŽŝŶŝŶŐ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƟŽŶ͕ <ĞŶƚ ǁĂƐ ƚŚĞ ƌĞĂƟǀĞ DĞĚŝĂ DĂŶĂŐĞƌ ĨŽƌ ƚŚĞ ƵīĂůŽ EŝĂŐĂƌĂ DĞĚŝĐĂů ĂŵƉƵƐ͕ /ŶĐ͘ ĂŶĚ ŽŽƌĚŝŶĂƚŽƌ ŽĨ ĞǀĞůŽƉŵĞŶƚ Θ ŽŵŵƵŶŝĐĂƟŽŶƐ Ăƚ ƚŚĞ ƵīĂůŽ hƌďĂŶ >ĞĂŐƵĞ͘ ,Ğ ĂůƐŽ ŚĂŶĚůĞĚ ĐůŝĞŶƚƐ ŝŶ ƚŚĞ ĞŶƚĞƌƚĂŝŶŵĞŶƚ ŝŶĚƵƐƚƌǇ ĂƐ Ă ĨƌĞĞůĂŶĐĞ ƉƵďůŝĐŝƐƚ͘ <ĞŶƚ ŚŽůĚƐ Ă ďĂĐŚĞůŽƌ ŽĨ ĂƌƚƐ ĚĞŐƌĞĞ ŝŶ ƉƐǇĐŚŽůŽŐǇ ǁŝƚŚ Ă ĐŽŶĐĞŶƚƌĂƟŽŶ ŝŶ ĐŽŵŵƵŶŝĐĂƟŽŶƐ ĨƌŽŵ DŽƌĞŚŽƵƐĞ ŽůůĞŐĞ ; ƚůĂŶƚĂ͕ 'ĞŽƌŐŝĂͿ ĂŶĚ Ă ŵĂƐƚĞƌ ŽĨ ƐĐŝĞŶĐĞ ĚĞŐƌĞĞ ŝŶ ƉƵďůŝĐ ƌĞůĂƟŽŶƐ ŵĂŶĂŐĞŵĞŶƚ ĨƌŽŵ ƵīĂůŽ ^ƚĂƚĞ ŽůůĞŐĞ͘ KƵƚƐŝĚĞ ŽĨ ŚŝƐ ŶĞǁ ƌŽůĞ Ăƚ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƟŽŶ͕ <ĞŶƚ ĂůƐŽ ƐĞƌǀĞƐ ĂƐ ƉƵďůŝĐ ƌĞůĂƟŽŶƐ ĐŽŽƌĚŝŶĂƚŽƌ ĨŽƌ ƚŚĞ ƵīĂůŽͲEŝĂŐĂƌĂ ŚĂƉƚĞƌ ŽĨ ƚŚĞ EĂƟŽŶĂů ĐƟŽŶ EĞƚǁŽƌŬ͕ ĐŽŶƚƌŝďƵƟŶŐ ĞĚŝƚŽƌ ĨŽƌ ůĞƵ DĂŐĂǌŝŶĞ ;EĞǁ zŽƌŬ͕ EĞǁ zŽƌŬͿ͕ ĂŶĚ ŝƐ ĂĐƚŝǀĞ ŝŶ ƚǁŽ ĨƌĂƚĞƌŶĂů ŽƌŐĂŶŝǌĂƚŝŽŶƐ͗ <ĂƉƉĂ ůƉŚĂ WƐŝ &ƌĂƚĞƌŶŝƚǇ͕ /ŶĐ͘ ĂŶĚ WĂƌĂŵŽƵŶƚ >ŽĚŐĞ ϳϯ ŽĨ ƚŚĞ WƌŝŶĐĞ ,Ăůů ĨĨŝůŝĂƚĞĚ &ƌĞĞ Θ ĐĐĞƉƚĞĚ DĂƐŽŶƐ͘ <ĞŶƚ ǁĂƐ ĂůƐŽ ĨĞĂƚƵƌĞĚ ŝŶ ůĂĐŬ ŶƚĞƌƉƌŝƐĞ DĂŐĂǌŝŶĞ ĂƐ Ă ϮϬϭϵ DŽĚĞƌŶ DĂŶ ŽĨ ŝƐƚŝŶĐƚŝŽŶ ĨŽƌ ŚŝƐ ǁŽƌŬ ŝŶ ƉƵďůŝĐ ƌĞůĂƚŝŽŶƐ ĂŶĚ ĐŽŵŵƵŶŝĐĂƚŝŽŶƐ͕ ĂŶĚ ƐĞƌǀĞĚ ĂƐ ƚŚĞ :ĂŶƵĂƌǇ ^ƉŽƚůŝŐŚƚ ĨŽƌ ƚŚĞ ϮϬϭϵ ƵĨĨĂůŽͲEŝĂŐĂƌĂ WĂƌƚŶĞƌƐŚŝƉ EϯϲϬ ^ƉŽƚůŝŐŚƚ WƌŽĨĞƐƐŝŽŶĂůƐ͘ <ĞŶƚ ŝƐ Ă ĐƌĞĂƚŝǀĞ ǁŚŽ ĞŶũŽǇƐ ĂŶǇƚŚŝŶŐ ƚŚĂƚ ĐĂƵƐĞƐ Śŝŵ ƚŽ ĞǆƉĂŶĚ ŚŝƐ ŚŽƌŝǌŽŶƐ͘ ,Ğ ůŝǀĞƐ ŝŶ ƵĨĨĂůŽ ǁŝƚŚ ŚŝƐ ƚǁŽ ĚĂƵŐŚƚĞƌƐ͘

Diane Oyler, Ph.D. Vice President of Programs tŽƌŬ WŚŽŶĞ͗ ;ϳϭϲͿ ϴϱϮͲϯϬϯϬ ǆ ϭϬϰ Ğůů͗ ;ϳϭϲͿ ϳϬϰͲϰϭϰϭ ͲDĂŝů͗ ĚŽǇůĞƌΛŚĨǁĐŶǇ͘ŽƌŐ ŝĂŶĞ KǇůĞƌ͕ WŚ͘ ͕͘ ũŽŝŶĞĚ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƟŽŶ ĨŽƌ tĞƐƚĞƌŶ ĂŶĚ ĞŶƚƌĂů EĞǁ zŽƌŬ ŝŶ ϮϬϭϲ ĂƐ ƉƌŽŐƌĂŵ ŽĸĐĞƌ ĂŶĚ ĐƵƌƌĞŶƚůǇ ƐĞƌǀĞƐ ĂƐ ǀŝĐĞ ƉƌĞƐŝĚĞŶƚ ŽĨ ƉƌŽŐƌĂŵƐ͘ /Ŷ ŚĞƌ ƌŽůĞ ƐŚĞ ĚŝƌĞĐƚůǇ ƐƵƉĞƌǀŝƐĞƐ ĮǀĞ ƐƚĂī ŵĞŵďĞƌƐ͕ ĂŶĚ ƉƌŽǀŝĚĞƐ ŽǀĞƌƐŝŐŚƚ ĂŶĚ ĐŽŽƌĚŝŶĂƟŽŶ ŽŶ ƉƌŽŐƌĂŵ ŵĂƩĞƌƐ͕ ŝŶĐůƵĚŝŶŐ ƌĞƐĞĂƌĐŚ ĂŶĚ ƐƚƌĂƚĞŐŝĐ ůĞĂƌŶŝŶŐ͘ WƌŝŽƌ ƚŽ ũŽŝŶŝŶŐ ƚŚĞ &ŽƵŶĚĂƟŽŶ͕ ŝĂŶĞ ǁŽƌŬĞĚ ĨŽƌ ƌŝĞ ŽƵŶƚǇ ĞƉĂƌƚŵĞŶƚ ŽĨ ^ĞŶŝŽƌ ^ĞƌǀŝĐĞƐ͕ ǁŚĞƌĞ ƐŚĞ ůĞĚ ƚŚĞ WƌŽŐƌĂŵ ĞǀĞůŽƉŵĞŶƚ ĂŶĚ ǀĂůƵĂƟŽŶ ƵŶŝƚ͘ ,Ğƌ ŬĞǇ ƌĞƐƉŽŶƐŝďŝůŝƟĞƐ ŝŶĐůƵĚĞĚ ŽǀĞƌƐĞĞŝŶŐ ĚĞƉĂƌƚŵĞŶƚĂů ƉůĂŶŶŝŶŐ ĂĐƟǀŝƟĞƐ͕ ƐĞƌǀŝĐĞ ƐǇƐƚĞŵ ĚĞǀĞůŽƉŵĞŶƚ͕ ŝĚĞŶƟĮĐĂƟŽŶ ŽĨ ŶĞǁ ƌĞƐŽƵƌĐĞƐ ƚŽ ŝŵƉƌŽǀĞ ĂŶĚ ĞǆƉĂŶĚ ƐĞƌǀŝĐĞƐ ƚŽ ƌŝĞ ŽƵŶƚǇ͛Ɛ ŽůĚĞƌ ĂĚƵůƚƐ͘ ŝĂŶĞ ŚĂƐ Ă WŚ͘ ͘ ŝŶ ƉŽůŝƟĐĂů ƐĐŝĞŶĐĞ ĨƌŽŵ ƚŚĞ ^ƚĂƚĞ hŶŝǀĞƌƐŝƚǇ ŽĨ EĞǁ zŽƌŬ Ăƚ ƵīĂůŽ͘ ^ŚĞ ƚĂƵŐŚƚ ĨŽƌ ŵŽƌĞ ƚŚĂŶ Ă ĚĞĐĂĚĞ Ăƚ ^hEz &ƌĞĚŽŶŝĂ ĂŶĚ ƵīĂůŽ ^ƚĂƚĞ ŽůůĞŐĞ͘ ^ŚĞ ŝƐ ĂůƐŽ Ă ƉƌŽƵĚ ŐƌĂĚƵĂƚĞ ŽĨ ƚŚĞ ,ĞĂůƚŚ &ŽƵŶĚĂƟŽŶ͛Ɛ ,ĞĂůƚŚ >ĞĂĚĞƌƐŚŝƉ &ĞůůŽǁƐ ƉƌŽŐƌĂŵ͘ ŝĂŶĞ ĐƵƌƌĞŶƚůǇ ůŝǀĞƐ ŝŶ ^ŽƵƚŚ ƵīĂůŽ ǁŝƚŚ ŚĞƌ ŚƵƐďĂŶĚ͕ ĂŶŝĞů͕ ĂŶĚ ƚŚĞŝƌ ƚǁŽ ĐĂƚƐ͕ KƐĐĂƌ ĂŶĚ WŝƉƉŝ͘

Kent Olden Communications Content Manager

Kerry Jones Waring Vice President for Communications

Jordan Bellassai Program Officer

Ken Genewick Sr. Program Officer Caregiving

Roxanne Cuebas Program Manager

Coralie Brown Grants Officer

Program Development and Evaluation Manager

Leslie Daniel Executive Assistant to the President

Steve Copps Office Manager

Director of Finance and Administration

Departmental Color Code: Operations Team | Program Team | Communications Team | Management Team

Marnie Annese Program Officer

Diane Oyler Vice President of Programs

Nora OBrien-Suric President

HFWCNY Board of Trustees

Revised 1.13.22

Organizational Chart

2022 ANNUAL BUDGET GRANT DISTRIBUTIONS Grantee Payments Direct Payment for the Benefit of Grantees Total Grant Distributions PROGRAM and ADMINISTRATIVE Personnel Expenses Salaries - Admin Benefits - Admin Payroll Taxes - Admin

4,291,600 470,000 4,761,600

Total

333,400 50,000 30,000 413,400

Total Total Personnel Expenses

948,900 142,300 85,400 1,176,600 1,590,000

NON Personnel Expenses Trustee Travel Meetings - Board and Committees IT/Computer Support Administrative Communication Audit/Tax Organizational Legal Rent and Utilities Staff Travel/Meals/Entertainment HFWCNY sponsored meetings Conference Fees/Dues Insurance Office Supplies Telephone/Electronic Communications Printing Equipment Purchase/Maintenance Memberships Subscriptions/Books/On-line services Mailing & Postage Fees and surcharges Miscellaneous Staff Development Total NON Personnel Expenses

16,000 19,300 46,600 23,400 9,800 26,300 83,300 10,000 118,700 52,000 1,000 12,200 8,600 5,600 13,300 5,500 41,800 10,700 4,500 900 4,700 500 33,700 548,400

Total Program and Administrative

2,138,400

Salaries - Program Benefits - Program Payroll Taxes - Program

GRAND TOTAL EXPENSES

6,900,000

HEALTH FOUNDATION FOR WESTERN & CENTRAL NEW YORK, INC. FINANCIAL STATEMENTS DECEMBER 31, 2021

INDEPENDENT AUDITORS’ REPORT The Board of Trustees Health Foundation for Western & Central New York, Inc. Opinion We have audited the balance sheets of Health Foundation for Western & Central New York, Inc. (the Foundation) as of December 31, 2021 and 2020, and the related statements of activities and cash flows for the years then ended, and the related notes to the financial statements. In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Foundation as of December 31, 2021 and 2020, and the changes in its net assets and cash flows for the years then ended, in accordance with accounting principles generally accepted in the United States of America (GAAP). Basis for Opinion We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Foundation, and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with GAAP, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Foundation’s ability to continue as a going concern for one year after the date the financial statements are issued. Auditors’ Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS, we:

Exercise professional judgment and maintain professional skepticism throughout the audit.

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Foundation’s internal control. Accordingly, no such opinion is expressed.

Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Foundation’s ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.

March 9, 2022

HEALTH FOUNDATION FOR WESTERN & CENTRAL NEW YORK, INC. Balance Sheets December 31, Assets: Cash Investments (Note 2) Program related investment (Note 3) Equipment and furnishings, net (Note 4) Prepaid expenses Other assets (Note 7)

Liabilities and Net Assets: Liabilities: Short-term borrowings (Note 5) Accounts payable and accrued expenses Grants payable (Note 6) Other liabilities (Note 7)

2021

210,986 $ 152,668,004 18,881 106,371 6,897 144,543

242,239 136,305,406 67,529 100,541 41,000 176,887

153,155,682 $

136,933,602

- $ 69,827 2,785,432 144,543 2,999,802

200,000 2,741,134 176,887 3,118,021

Net assets: Without donor restrictions With donor restrictions (Note 9)

See accompanying notes.

2020

147,861,093 2,294,787 150,155,880

131,702,631 2,112,950 133,815,581

153,155,682 $

136,933,602

HEALTH FOUNDATION FOR WESTERN & CENTRAL NEW YORK, INC. Statements of Activities For the years ended December 31, Net assets without donor restrictions: Revenue and support: Investment activity: Net realized and unrealized gains Other investment income

Less investment fees Total investment activity Other income Net assets released from restrictions Total revenue and support Expenses: Grants Direct payment for the benefit of grantees Other program costs Administrative Total expenses Change in net assets without donor restrictions Net assets with donor restrictions: Investment activity: Net realized and unrealized gains Other investment income Less investment fees Total investment activity Net assets released from restrictions Change in net assets with donor restrictions Change in net assets Net assets - beginning Net assets - ending

See accompanying notes.

2021

2020

18,911,057 $ 4,294,771 23,205,828 1,206,831 21,998,997

12,876,316 1,376,416 14,252,732 1,090,076 13,162,656

122,103 126,948 22,248,048

19,554 121,001 13,303,211

3,533,340 382,593 1,302,833 870,820 6,089,586

4,854,707 402,185 1,124,141 843,250 7,224,283

16,158,462

6,078,928

265,441 60,283 325,724 16,939 308,785

197,055 21,064 218,119 16,682 201,437

(126,948)

(121,001)

181,837

80,436

16,340,299

6,159,364

133,815,581

127,656,217

150,155,880 $

133,815,581

HEALTH FOUNDATION FOR WESTERN & CENTRAL NEW YORK, INC. Statements of Cash Flows For the years ended December 31, Operating activities: Change in net assets Adjustments to reconcile change in net assets to net cash flows from operating activities: Net realized and unrealized gains on investments Depreciation Net changes in other assets and liabilities: Prepaid expenses Accounts payable and accrued expenses Grants payable

Net investing activities Financing activities: Net proceeds from (payments on) short-term borrowings Change in cash Cash - beginning

See accompanying notes.

16,340,299 $

6,159,364

(13,073,371) 40,466

34,103 69,827 44,298

Investing activities: Purchases of property and equipment Program related investment, net Purchases of investments Proceeds from sales of investments

Supplemental cash flows information: Excise taxes paid

2020

(19,176,498) 28,858

Net operating activities

Cash - ending

2021

(41,000) (29,516) 850,044

(2,659,113)

(6,094,013)

(34,688) 48,648 (12,404,306) 15,218,206

(8,570) 47,212 (30,095,374) 35,940,009

2,827,860

5,883,277

(200,000)

200,000

(31,253)

(10,736)

242,239

252,975

210,986

242,239

65,700

182,226

HEALTH FOUNDATION FOR WESTERN & CENTRAL NEW YORK, INC. Notes to Financial Statements

1. Summary of Significant Accounting Policies: Organization: Health Foundation for Western & Central New York, Inc. (the Foundation) is a nonprofit, private charitable foundation, whose mission is to promote and support programs and activities to improve the health and healthcare of the people and communities of Western and Central New York State. Subsequent Events: Management has evaluated events and transactions for potential recognition or disclosure through March 9, 2022, the date the financial statements were available to be issued. Basis of Presentation: The Foundation’s financial position and activities are reported according to two classes of net assets: net assets without donor restrictions and net assets with donor restrictions. Net assets with donor restrictions are those whose use has been limited by donors for a specific time period, purpose, or to be maintained by the Foundation in perpetuity. Cash: Cash in financial institutions potentially subjects the Foundation to concentrations of credit risk since it may exceed insured limits at various times throughout the year. Investments: Investments in marketable securities are stated at fair value as determined by quoted prices in active markets. The Foundation uses net asset value (NAV) per share (or its equivalent) as a practical expedient to determine the fair value of investments that (i) do not have a readily determinable fair value predicated upon quoted prices in active markets, and (ii) have the attributes of an investment company or prepare their financial statements consistent with the measurement principles of an investment company.

Investment securities are exposed to interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities and the level of uncertainty related to changes in the value of investment securities, it is at least reasonably possible that changes in values in the near term could materially affect the amounts reported in the accompanying financial statements. Property and Equipment: Property and equipment is stated at cost net of accumulated depreciation. Depreciation is provided over estimated useful lives using the straight-line method. Grants: Unconditional grants are recognized as an expense and liability when the grant is approved and conditional grants are recognized when all pertinent conditions are substantially met. Grant awards may be cancelled or amended subject to approval and are reflected as decreases or increases to grants payable and related expense, as appropriate. Excise Taxes: The Foundation is a 501(c)(3) corporation exempt from income taxes under §501(a) of the Internal Revenue Code (Code). As a private foundation, the Foundation is subject to a 1.39% federal excise tax on its net realized investment income. Pursuant to Code §4942, the Foundation is required, within one year after the end of each fiscal year, to distribute 5% of the twelve-month average fair market value of its assets (primarily cash and investments) as defined by the Code or be subject to a 30% excise tax on the undistributed amounts. The assets subject to the 5% distribution requirement are exclusive of those deemed to be held for charitable activities (representing 1.5% of cash and investments). Qualifying distributions are determined on a cash basis. The Foundation believes it has complied with this requirement through December 31, 2021.

Use of Estimates: The preparation of the financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

2. Investments: Marketable Securities

Other Investments

Total

2021 Money market $ 2,860,610 $ - $ 2,860,610 Domestic equities 11,752,450 30,663,536 42,415,986 International equities 22,017,842 15,881,191 37,899,033 Private equity 15,306,517 15,306,517 Flexible capital 1,650,454 22,915,432 24,565,886 Fixed income 12,514,617 12,514,617 Real assets 17,105,355 17,105,355 $ 50,795,973 $101,872,031 $ 152,668,004 2020 Money market $ 524,037 $ - $ 524,037 Domestic equities 11,272,888 29,875,941 41,148,829 International equities 20,418,455 15,623,777 36,042,232 Private equity 9,327,135 9,327,135 Flexible capital 2,146,353 21,567,238 23,713,591 Fixed income 12,798,284 12,798,284 Real assets 12,751,298 12,751,298 $ 47,160,017 $ 89,145,389 $ 136,305,406

Investment liquidity is as follows at December 31: Daily Redeemable with 10 to 30 days notice Redeemable with 45 to 90 days notice; any lock-up periods do not exceed one year Nonredeemable

2021 83,431,620 $

2020 78,294,493

29,016,235

26,276,778

22,915,432 21,567,238 17,304,717 10,166,897 $ 152,668,004 $ 136,305,406

Nonredeemable investments consist primarily of private equity and real asset funds. Generally, these funds cannot be redeemed. Distributions from these funds are received as the underlying investments are liquidated. As of December 31, 2021, it is estimated that the underlying assets of these funds will be liquidated over a period of approximately 10 to 12 years.

The Foundation has committed capital of $23,875,000 to various private equity funds and real assets. As of December 31, 2021, the remaining obligation under these commitments totaled $10,697,000.

3. Program Related Investment: The Foundation makes program related investments that advance philanthropic purpose, primarily in the form of loans to nonprofit organizations as a means to support their charitable objectives. At December 31, 2021 and 2020, the investment consisted of a loan to a nonprofit organization bearing interest at 4%. Management has reviewed the collectability of the loan and has determined no allowance for uncollectible amounts is necessary as of December 31, 2021 and 2020.

4. Equipment and Furnishings: Equipment and furnishings Less accumulated depreciation

$ $

2021 557,165 $ 450,794 106,371 $

2020 522,477 421,936 100,541

5. Short-Term Borrowings: The Foundation has available a $2,500,000 bank demand line of credit with interest payable at LIBOR plus 1.75%, secured by certain assets. The line is subject to the usual terms and conditions applied by the bank for working capital financing and is annually reviewed and renewed. Amounts outstanding at December 31, 2020 totaled $200,000. There were no amounts outstanding at December 31, 2021.

6. Grants Payable: As of December 31, 2021, amounts payable are expected to be paid as follows: 2022 2023 2024 2025

$ 2,044,812 685,620 50,000 5,000 $ 2,785,432

Amounts payable beyond one year are typically discounted at inception using an appropriate interest rate. At December 31, 2021, the estimated discounts were not significant to the financial statements and have not been recognized.

7. Benefit Plans:

9. Net Assets With Donor Restrictions:

The Foundation maintains a 401(k) retirement plan for essentially all full-time employees. Employer contributions are discretionary and represent a match up to 6% of salaries for employees meeting certain service requirements. Contributions for the years ended December 31, 2021 and 2020 totaled $52,856 and $49,656.

In 2018, the Foundation received $2,000,000 from an organization to establish an endowment fund for investment in perpetuity, the income and gains from which are expendable to support staff dedicated to grantmaking and collaboration in caregiving. The Foundation’s investment and spending policies for the endowment fund seeks to achieve a rate of return sufficient to address the purpose of the assets over the long-term.

The Foundation is also obligated under the terms of a deferred compensation plan for the benefit of certain employees. Pursuant to plan terms, assets are set aside and invested on behalf of the employees, and the amounts are distributed based on termination and age factors. Funds available under this plan at December 31, 2021 and 2020 totaled $144,543 and $176,887 and are reported as other assets and other liabilities on the accompanying balance sheets.

8. Commitments: Leases: The Foundation leases office space under noncancelable operating leases. Future minimum annual rentals due under these leases at December 31, 2021 are: 2022 2023 2024 2025

109,000 109,000 109,000 17,000 344,000

Total rent expense was $126,126 and $117,616 for the years ended December 31, 2021 and 2020. Program Related Investment: In February 2022, the Foundation committed to a program related investment totaling approximately $458,000. The loan is expected to be disbursed by the Foundation in March 2022. Repayment of the loan is expected by December 31, 2022.

The Foundation has interpreted the New York Prudent Management of Institutional Funds Act (NYPMIFA) as requiring the preservation of the fair value of the original gift as of the gift date of donor-restricted endowment funds, absent explicit donor stipulations to the contrary. As a result of this interpretation, the Foundation classifies as donorrestricted endowment assets (a) the original value of gifts donated to the donor-restricted endowment, (b) the original value of subsequent gifts to the donor-restricted endowment, and (c) accumulations to the donor-restricted endowment made in accordance with the direction of a donor gift instrument at the time the accumulation is added to the fund. Investment earnings of donor-restricted endowment funds are classified as net assets with donor restrictions until those amounts are appropriated for expenditure by the Foundation in a manner consistent with the standard of prudence prescribed by NYPMIFA. In accordance with NYPMIFA, the Foundation considers the following factors to appropriate or accumulate donorrestricted endowment funds:

Duration and preservation of the fund Purposes of the Foundation and the fund General economic conditions Possible effects of inflation and deflation Expected total return from income and appreciation of investments Other Foundation resources Where appropriate and circumstances would otherwise warrant, alternatives to expenditure of the endowment fund, giving due consideration to the effect that such alternatives may have on the Foundation Investment policy of the Foundation

The Foundation’s donor-restricted endowment asset activity is as follows for the years ended December 31: 2021 Endowment assets – beginning balance Contributions Investment gains Appropriations Endowment assets – ending balance

2020

2,112,950 $ 308,785 (126,948)

2,032,514 201,437 (121,001)

2,294,787 $

2,112,950

10. Expenses by Nature and Function: Program 2021 Grants $ Personnel costs Consulting Travel Occupancy Excise taxes Other $ 2020 Grants $ Personnel costs Consulting Travel Occupancy Excise taxes Other $

Administrative

3,533,340 $ 1,032,031 325,671 4,247 178,835 144,642 5,218,766 $

4,854,707 $ 941,158 345,581 25,268 114,277 100,042 6,381,033 $

390,530 214,745 4,749 60,376 156,668 43,752 870,820

455,476 114,203 7,472 79,458 122,421 64,220 843,250

Total $

3,533,340 1,422,561 540,416 8,996 239,211 156,668 188,394 6,089,586

4,854,707 1,396,634 459,784 32,740 193,735 122,421 164,262 7,224,283

11. Financial Resources Available for Operations: The Foundation funds its operations primarily through investment income. If necessary, the Foundation also has access to a $2,500,000 bank demand line of credit (Note 5). The Foundation’s financial assets available within one year of the date of the balance sheets to meet cash needs for general expenditures consist of the following at December 31: Cash Program related investment current Investments Financial assets, at year-end Less: Nonredeemable investments Net assets with donor restrictions

2021 210,986 $ 18,881 152,668,004 152,897,871

2020 242,239 48,647 136,305,406 136,596,292

17,304,717 10,166,897 2,294,787 2,112,950 $ 133,298,367 $ 124,316,445

12. Risks and Uncertainties due to COVID-19: On January 31, 2020, the United States Secretary of Health and Human Services (HHS) declared a public health emergency related to the global spread of coronavirus COVID19, and a pandemic was declared by the World Health Organization in February 2020. The extent of the impact of COVID-19 on the Foundation’s financial performance will depend on further developments, including the duration and spread of the outbreak, as well as the impact on financial markets, all of which cannot be predicted.

The financial statements report certain categories of expenses that are attributable to program and administrative functions. Therefore, these expenses require allocation on a reasonable basis that is consistently applied. The expenses that are allocated include personnel costs, consulting, travel, occupancy, and other expenses, which are allocated on the basis of estimates of time and effort.

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/0 Gltcqrkclrq + kmpre_ec jm_lq ||||||||||||||||| QRKR 7 /1 Gltcqrkclrq + mrfcp |||||||||||||||||||||| /2 J_lb* `sgjbgleq* _lb cosgnkclr8 `_qgq z QRKR /. z Jcqq8 _aasksj_rcb bcnpcag_rgml ||||||||

300*255, 20/*714,

/3 Mrfcp _qqcrq &bcqapg`c z /4 Rmr_j _qqcrq &rm `c amknjcrcb `w _jj dgjcpq + qcc rfc

/10*215, 101*750,

glqrpsargmlq, ?jqm* qcc n_ec /* grck G' }}}}}}}}}}}}}} /5 ?aamslrq n_w_`jc _lb _aapscb cvnclqcq ||||||||||||| /6 Ep_lrq n_w_`jc |||||||||||||||||||||||| Jg_`gjgrgcq

/.3*/60*..7, /.2*.7.*.04, /.2*.7.*.04,

0/ Kmpre_ecq _lb mrfcp lmrcq n_w_`jc ||||||||||||||| 00 Mrfcp jg_`gjgrgcq &bcqapg`c z BCDCPPCB AMKNCLQ?R '

Lcr ?qqcrq mp Dslb @_j_lacq

01 Rmr_j jg_`gjgrgcq &_bb jglcq /5 rfpmsef 00' }}}}}}}}}}}} V Dmslb_rgmlq rf_r dmjjmu D?Q@ ?QA 736* afcai fcpc || z

Dmslb_rgmlq rf_r bm lmr dmjjmu D?Q@ ?QA 736* afcai fcpc z

/..*32/, 022*2/4,

/07*564*.32, /14*711*4.0, /14*711*4.0, 07*3/4, 0*52/*/12,

/7 Bcdcppcb pctclsc ||||||||||||||||||||||| 0. Jm_lq dpmk mddgacpq* bgpcarmpq* rpsqrccq* _lb mrfcp bgqos_jgdgcb ncpqmlq ||||

_lb amknjcrc jglcq 02* 03* 07* _lb 1., 02 Lcr _qqcrq ugrfmsr bmlmp pcqrpgargmlq |||||||||||||| 03 Lcr _qqcrq ugrf bmlmp pcqrpgargmlq ||||||||||||||||

/..*32/, 022*2/4,

0.7*01/,

0..*..., /54*665,

016*525,

1*//6*.0/,

/05*3/2*571, /1/*5.0*41/, 0*.10*3/2, 0*//0*73.,

_lb amknjcrc jglcq 04 rfpmsef 1., 04 A_ngr_j qrmai* rpsqr npglagn_j* mp asppclr dslbq ||||||||||| 05 N_gb+gl mp a_ngr_j qspnjsq* mp j_lb* `jbe,* _lb cosgnkclr dslb |||| 06 Pcr_glcb c_plgleq* _aasksj_rcb glamkc* clbmukclr* mp mrfcp dslbq | 07 Rmr_j lcr _qqcrq mp dslb `_j_lacq ||||||||||||||||

/07*325*1.5, /11*6/3*36/,

1. Rmr_j jg_`gjgrgcq _lb lcr _qqcrq-dslb `_j_lacq }}}}}}}}}}

/07*564*.32, /14*711*4.0,

N_pr GGG

?l_jwqgq md Af_lecq gl Lcr ?qqcrq mp Dslb @_j_lacq

/ Rmr_j lcr _qqcrq mp dslb `_j_lacq _r `cegllgle md wc_p + N_pr GG* amjskl &_'* jglc 07 &ksqr _epcc ugrf clb+md+wc_p dgespc pcnmprcb ml npgmp wc_p%q pcrspl' ||||||||||||||||||||||||||| Clrcp _kmslr dpmk N_pr G* jglc 05_ |||||||||||||||||||||||||||||||||||||||||| 0 1 Mrfcp glapc_qcq lmr glajsbcb gl jglc 0 &grckgxc' z SLPC?JGXCB E?GLQ ML GLTCQRKCLRQ 2 ?bb jglcq /* 0* _lb 1 |||||||||||||||||||||||||||||||||||||||||||||||| 3 Bcapc_qcq lmr glajsbcb gl jglc 0 &grckgxc' z

4 Rmr_j lcr _qqcrq mp dslb `_j_lacq _r clb md wc_p &jglc 2 kglsq jglc 3' + N_pr GG* amjskl &`'* jglc 07 }}}}}}}}}}}}}}}

.013// /0+.0+0.

/ 0 1 2 3 4

/07*325*1.5, +4*./0*50/, /.*06.*773, /11*6/3*36/, ., /11*6/3*36/, Dmpk 77.+ND &0.0.'

1 /414///3 5616/4 U..363..,. 0.0.,.3... FC?JRF DMSLB?RGML DMP UCQ U..363./

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI A_ngr_j E_glq _lb Jmqqcq dmp R_v ml Gltcqrkclr Glamkc

00+16.2176

Dmpk 77.+ND &0.0.'

N_pr GT

&`' Fmu _aosgpcb N + Nspaf_qc B + Bml_rgml

&_' Jgqr _lb bcqapg`c rfc iglb&q' md npmncprw qmjb &dmp cv_knjc* pc_j cqr_rc* 0+qrmpw `pgai u_pcfmsqc9 mp amkkml qrmai* 0.. qfq, KJA Am,'

NS@JGAJW RP?BCB GLTCQRKCLRQ ` LMLNS@JGAJW RP?BCB GLTCQRKCLRQ

&a' B_rc _aosgpcb &km,* b_w* wp,'

N_ec 1

&b' B_rc qmjb &km,* b_w* wp,'

N N

a b c &c' Epmqq q_jcq npgac

&d' Bcnpcag_rgml _jjmucb &mp _jjmu_`jc'

//*305*6/2, /6*345*34.,

_ `

&e' Amqr mp mrfcp `_qgq njsq cvnclqc md q_jc

&f' E_gl mp &jmqq' &&c' njsq &d' kglsq &e''

/.*/7/*.1/, /4*4.7*064,

/*114*561, /*736*052,

a b c Amknjcrc mljw dmp _qqcrq qfmugle e_gl gl amjskl &f' _lb mulcb `w rfc dmslb_rgml ml /0-1/-47, &g' DKT _q md /0-1/-47

&h' ?bhsqrcb `_qgq _q md /0-1/-47

&j' E_glq &Amj, &f' e_gl kglsq amj, &i'* `sr lmr jcqq rf_l +.+' mp Jmqqcq &dpmk amj, &f''

&i' Cvacqq md amj, &g' mtcp amj, &h'* gd _lw

/*114*561, /*736*052,

_ ` a b c 0 A_ngr_j e_gl lcr glamkc mp &lcr a_ngr_j jmqq'

U T V

Gd e_gl* _jqm clrcp gl N_pr G* jglc 5 Gd &jmqq'* clrcp +.+ gl N_pr G* jglc 5

||||||

1 Lcr qfmpr+rcpk a_ngr_j e_gl mp &jmqq' _q bcdglcb gl qcargmlq /000&3' _lb &4'8 Gd e_gl* _jqm clrcp gl N_pr G* jglc 6* amjskl &a', Qcc glqrpsargmlq, Gd &jmqq'* clrcp +.+ gl N_pr G* jglc 6 }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

N_pr T

S P R S P R

1*073*.35,

L-? 1 Os_jgdga_rgml Slbcp Qcargml 272.&c' dmp Pcbsacb R_v ml Lcr Gltcqrkclr Glamkc QCARGML 272.&c' PCNC?JCB ML BCACK@CP 0.* 0./7 + BM LMR AMKNJCRC,

Pcqcptcb &_' Pcqcptcb

&`' Pcqcptcb

&b' Pcqcptcb

&a' Pcqcptcb

Pcqcptcb Pcqcptcb Pcqcptcb Pcqcptcb Pcqcptcb 0 Pcqcptcb ||||||||||||||||||||||||||||||||||||||||||||||||||

1 Pcqcptcb ||||||||||||||||||||||||||||||||||||||||||||||||||

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3 Pcqcptcb ||||||||||||||||||||||||||||||||||||||||||||||||||

4 Pcqcptcb ||||||||||||||||||||||||||||||||||||||||||||||||||

5 Pcqcptcb ||||||||||||||||||||||||||||||||||||||||||||||||||

6 Pcqcptcb }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

6 Dmpk 77.+ND &0.0.'

.0130/ /0+.0+0.

2 /414///3 5616/4 U..363..,. 0.0.,.3... FC?JRF DMSLB?RGML DMP UCQ U..363./

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI 00+16.2176 Cvagqc R_v @_qcb ml Gltcqrkclr Glamkc &Qcargml 272.&_'* 272.&`'* mp 2726 + qcc glqrpsargmlq' N_pr TG /_ Cvcknr mncp_rgle dmslb_rgmlq bcqapg`cb gl qcargml 272.&b'&0'* afcai fcpc z _lb clrcp L-? ml jglc /,

Dmpk 77.+ND &0.0.'

B_rc md psjgle mp bcrcpkgl_rgml jcrrcp8

&_rr_af amnw md jcrrcp gd lcacqq_pw+qcc glqrpsargmlq' ` Pcqcptcb |||||||||||||||||||||||||||||||||||||||||||||||| a ?jj mrfcp bmkcqrga dmslb_rgmlq clrcp /,17# md jglc 05`, Cvcknr dmpcgel mpe_lgx_rgmlq* clrcp 2# md N_pr G* jglc /0* amj, &`' |||||||||||||||||||||||||||||||||||||||||

S Q Q Q P Q Q Q R

2 Qs`rgrjc ? &glamkc' r_v &bmkcqrga qcargml 2725&_'&/' rpsqrq _lb r_v_`jc dmslb_rgmlq mljw9 mrfcpq* clrcp +.+' |||||||| 3 R_v `_qcb ml gltcqrkclr glamkc, Qs`rp_ar jglc 2 dpmk jglc 1, Gd xcpm mp jcqq* clrcp +.+ |||||||||||||||||

4 Apcbgrq-N_wkclrq8 _ 0.0. cqrgk_rcb r_v n_wkclrq _lb 0./7 mtcpn_wkclr apcbgrcb rm 0.0. |||||||| ` Cvcknr dmpcgel mpe_lgx_rgmlq + r_v ugrffcjb _r qmspac |||||||||||||||| a R_v n_gb ugrf _nnjga_rgml dmp cvrclqgml md rgkc rm dgjc &Dmpk 6646' ||||||||||

4_ 4`

V gd Dmpk 000. gq _rr_afcb ||||||||||||| 6 Clrcp _lw ncl_jrw dmp slbcpn_wkclr md cqrgk_rcb r_v, Afcai fcpc

7 R_v bsc, Gd rfc rmr_j md jglcq 3 _lb 6 gq kmpc rf_l jglc 5* clrcp _kmslr mucb |||||||||||||||||||| /. Mtcpn_wkclr, Gd jglc 5 gq kmpc rf_l rfc rmr_j md jglcq 3 _lb 6* clrcp rfc _kmslr mtcpn_gb }}}}}}}}}}}}}}

N_pr TGG+?

Qr_rckclrq Pce_pbgle ?argtgrgcq

., /.4*74/, ., /.4*74/,

1 3

62*..., ., 24*5.., .,

4a b @_aisn ugrffmjbgle cppmlcmsqjw ugrffcjb ||||||||||||||||||||| 4b 5 Rmr_j apcbgrq _lb n_wkclrq, ?bb jglcq 4_ rfpmsef 4b ||||||||||||||||||||||||||||||||

// Clrcp rfc _kmslr md jglc /. rm `c8 Apcbgrcb rm 0.0/ cqrgk_rcb r_v z

/.4*74/,

0 R_v slbcp qcargml 3// &bmkcqrga qcargml 2725&_'&/' rpsqrq _lb r_v_`jc dmslb_rgmlq mljw9 mrfcpq* clrcp +.+' |||||||| 1 ?bb jglcq / _lb 0 |||||||||||||||||||||||||||||||||||||||||||||||

6 7

01*/70, Pcdslbcb z

/1.*5.., 325,

N_ec 2

01*/70, .,

/_ Bspgle rfc r_v wc_p* bgb rfc dmslb_rgml _rrcknr rm gldjsclac _lw l_rgml_j* qr_rc* mp jma_j jcegqj_rgml mp bgb gr n_prgagn_rc mp glrcptclc gl _lw nmjgrga_j a_kn_gel= ||||||||||||||||||||||||||||||||||||||||||||||||||||

` Bgb gr qnclb kmpc rf_l "/.. bspgle rfc wc_p &cgrfcp bgpcarjw mp glbgpcarjw' dmp nmjgrga_j nspnmqcq= Qcc rfc glqrpsargmlq dmp rfc bcdglgrgml |||| Gd rfc _lqucp gq Wcq rm /_ mp /`* _rr_af _ bcr_gjcb bcqapgnrgml md rfc _argtgrgcq _lb amngcq md _lw k_rcpg_jq ns`jgqfcb mp

Wcq Lm V V

bgqrpg`srcb `w rfc dmslb_rgml gl amllcargml ugrf rfc _argtgrgcq, a Bgb rfc dmslb_rgml dgjc Dmpk //0.+NMJ dmp rfgq wc_p= ||||||||||||||||||||||||||||||||||||||| b Clrcp rfc _kmslr &gd _lw' md r_v ml nmjgrga_j cvnclbgrspcq &qcargml 2733' gknmqcb bspgle rfc wc_p8

0 F_q rfc dmslb_rgml cle_ecb gl _lw _argtgrgcq rf_r f_tc lmr npctgmsqjw `ccl pcnmprcb rm rfc GPQ= |||||||||||||||||||| Gd Wcq* _rr_af _ bcr_gjcb bcqapgnrgml md rfc _argtgrgcq,

V V

., &0' Ml dmslb_rgml k_l_ecpq, z " &/' Ml rfc dmslb_rgml, z " c Clrcp rfc pcgk`spqckclr &gd _lw' n_gb `w rfc dmslb_rgml bspgle rfc wc_p dmp nmjgrga_j cvnclbgrspc r_v gknmqcb ml dmslb_rgml ., k_l_ecpq, z "

1 F_q rfc dmslb_rgml k_bc _lw af_lecq* lmr npctgmsqjw pcnmprcb rm rfc GPQ* gl grq emtcplgle glqrpskclr* _prgajcq md glampnmp_rgml* mp `wj_uq* mp mrfcp qgkgj_p glqrpskclrq= Gd Wcq* _rr_af _ amldmpkcb amnw md rfc af_lecq |||||||||||||||||||||||| 2_ Bgb rfc dmslb_rgml f_tc slpcj_rcb `sqglcqq epmqq glamkc md "/*... mp kmpc bspgle rfc wc_p= ||||||||||||||||||||| L-? ` Gd Wcq* f_q gr dgjcb _ r_v pcrspl ml Dmpk 77.+R dmp rfgq wc_p= ||||||||||||||||||||||||||||||||||||

3 U_q rfcpc _ jgosgb_rgml* rcpkgl_rgml* bgqqmjsrgml* mp qs`qr_lrg_j amlrp_argml bspgle rfc wc_p= |||||||||||||||||||||| Gd Wcq* _rr_af rfc qr_rckclr pcosgpcb `w A_h_l[f Chmnlo]ncih N(

4 ?pc rfc pcosgpckclrq md qcargml 3.6&c' &pcj_rgle rm qcargmlq 272/ rfpmsef 2723' q_rgqdgcb cgrfcp8 £ @w j_les_ec gl rfc emtcplgle glqrpskclr* mp £ @w qr_rc jcegqj_rgml rf_r cddcargtcjw _kclbq rfc emtcplgle glqrpskclr qm rf_r lm k_lb_rmpw bgpcargmlq rf_r amldjgar ugrf rfc qr_rc j_u pck_gl gl rfc emtcplgle glqrpskclr= |||||||||||||||||||||||||||||||||||||||||||||| 5 Bgb rfc dmslb_rgml f_tc _r jc_qr "3*... gl _qqcrq _r _lw rgkc bspgle rfc wc_p= Gd Wcq* amknjcrc N_pr GG* amj, &a'* _lb N_pr VT |||||||| 6_ Clrcp rfc qr_rcq rm ufgaf rfc dmslb_rgml pcnmprq mp ugrf ufgaf gr gq pcegqrcpcb, Qcc glqrpsargmlq,

V V

` Gd rfc _lqucp gq Wcq rm jglc 5* f_q rfc dmslb_rgml dsplgqfcb _ amnw md Dmpk 77.+ND rm rfc ?rrmplcw Eclcp_j &mp bcqgel_rc' md c_af qr_rc _q pcosgpcb `w A_h_l[f Chmnlo]ncih A9 Gd Lm* _rr_af cvnj_l_rgml ||||||||||||||||||||||||||| 7 Gq rfc dmslb_rgml aj_gkgle qr_rsq _q _ npgt_rc mncp_rgle dmslb_rgml ugrfgl rfc kc_lgle md qcargml 2720&h'&1' mp 2720&h'&3' dmp a_jclb_p wc_p 0.0. mp rfc r_v wc_p `cegllgle gl 0.0.= Qcc rfc glqrpsargmlq dmp N_pr VGT, Gd Wcq* amknjcrc N_pr VGT |||||||||||||||| /. Bgb _lw ncpqmlq `camkc qs`qr_lrg_j amlrpg`srmpq bspgle rfc r_v wc_p= Gd Wcq* _rr_af _ qafcbsjc jgqrgle rfcgp l_kcq _lb _bbpcqqcq }}}}}}}}

V V

/. Dmpk 77.+ND &0.0.'

.0131/ /0+.0+0.

3 /414///3 5616/4 U..363..,. 0.0.,.3... FC?JRF DMSLB?RGML DMP UCQ U..363./

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI N_pr TGG+? Qr_rckclrq Pce_pbgle ?argtgrgcq "]ihncho_^#

00+16.2176

Dmpk 77.+ND &0.0.'

Wcq Lm

// ?r _lw rgkc bspgle rfc wc_p* bgb rfc dmslb_rgml* bgpcarjw mp glbgpcarjw* mul _ amlrpmjjcb clrgrw ugrfgl rfc kc_lgle md qcargml 3/0&`'&/1'= Gd Wcq* _rr_af qafcbsjc, Qcc glqrpsargmlq |||||||||||||||||||||||||||||||||||

/0 Bgb rfc dmslb_rgml k_ic _ bgqrpg`srgml rm _ bmlmp _btgqcb dslb mtcp ufgaf rfc dmslb_rgml mp _ bgqos_jgdgcb ncpqml f_b _btgqmpw npgtgjcecq= Gd Wcq* _rr_af qr_rckclr, Qcc glqrpsargmlq |||||||||||||||||||||||||||||||||||||||||||

/1 Bgb rfc dmslb_rgml amknjw ugrf rfc ns`jga glqncargml pcosgpckclrq dmp grq _lls_j pcrsplq _lb cvcknrgml _nnjga_rgml= ||||||||||| Uc`qgrc _bbpcqq z UUU,FDUALW,MPE /2 Rfc `mmiq _pc gl a_pc md z LMP? M@PGCL+QSPGA Jma_rcb _r z 504 CVAF?LEC QR,* QSGRC 3/6* @SDD?JM* LW

N_ec 3

V V

Rcjcnfmlc lm, z 5/4+630+1.1.

XGN)2 z/20/.+/263

/3 Qcargml 2725&_'&/' lmlcvcknr af_pgr_`jc rpsqrq dgjgle Dmpk 77.+ND gl jgcs md Dmpk /.2/ + afcai fcpc ||||||||||||||||||||||| z L-? _lb clrcp rfc _kmslr md r_v+cvcknr glrcpcqr pcacgtcb mp _aapscb bspgle rfc wc_p ||||||||||||||||||| z /3 /4 ?r _lw rgkc bspgle a_jclb_p wc_p 0.0.* bgb rfc dmslb_rgml f_tc _l glrcpcqr gl mp _ qgel_rspc mp mrfcp _srfmpgrw mtcp _ `_li* qcaspgrgcq* mp mrfcp dgl_lag_j _aamslr gl _ dmpcgel amslrpw= ||||||||||||||||||||||||||||||||||||

Wcq Lm V

Qcc rfc glqrpsargmlq dmp cvacnrgmlq _lb dgjgle pcosgpckclrq dmp DglACL Dmpk //2, Gd Wcq* clrcp rfc l_kc md rfc dmpcgel amslrpw z

N_pr TGG+@ Qr_rckclrq Pce_pbgle ?argtgrgcq dmp Ufgaf Dmpk 250. K_w @c Pcosgpcb

Wcq Lm

Dgjc Dmpk 250. gd _lw grck gq afcaicb gl rfc Wcq amjskl* sljcqq _l cvacnrgml _nnjgcq, /_ Bspgle rfc wc_p* bgb rfc dmslb_rgml &cgrfcp bgpcarjw mp glbgpcarjw'8 V Lm &/' Cle_ec gl rfc q_jc mp cvaf_lec* mp jc_qgle md npmncprw ugrf _ bgqos_jgdgcb ncpqml= |||||||||||||| Wcq &0' @mppmu kmlcw dpmk* jclb kmlcw rm* mp mrfcpugqc cvrclb apcbgr rm &mp _aacnr gr dpmk'

Dsplgqf emmbq* qcptgacq* mp d_agjgrgcq rm &mp _aacnr rfck dpmk' _ bgqos_jgdgcb ncpqml= ||||||||||||| V N_w amknclq_rgml rm* mp n_w mp pcgk`spqc rfc cvnclqcq md* _ bgqos_jgdgcb ncpqml= ||||||||||||||

V Lm Wcq

_ bgqos_jgdgcb ncpqml= |||||||||||||||||||||||||||||||||||||||| &1' &2'

&3' Rp_lqdcp _lw glamkc mp _qqcrq rm _ bgqos_jgdgcb ncpqml &mp k_ic _lw md cgrfcp _t_gj_`jc dmp rfc `clcdgr mp sqc md _ bgqos_jgdgcb ncpqml'=|||||||||||||||||||||||||||||| &4' ?epcc rm n_w kmlcw mp npmncprw rm _ emtcplkclr mddgag_j= & Cvacnrgml, Afcai Lm gd rfc dmslb_rgml _epccb rm k_ic _ ep_lr rm mp rm cknjmw rfc mddgag_j dmp _ ncpgmb _drcp

V Lm Wcq Wcq Lm

V Lm rcpkgl_rgml md emtcplkclr qcptgac* gd rcpkgl_rgle ugrfgl 7. b_wq,' ||||||||||||||||||||| Wcq ` Gd _lw _lqucp gq Wcq rm /_&/'+&4'* bgb _lw md rfc _arq d_gj rm os_jgdw slbcp rfc cvacnrgmlq bcqapg`cb gl Pcesj_rgmlq qcargml 31,272/&b'+1 mp gl _ asppclr lmrgac pce_pbgle bgq_qrcp _qqgqr_lac= Qcc glqrpsargmlq |||||||||||||||||||||| Mpe_lgx_rgmlq pcjwgle ml _ asppclr lmrgac pce_pbgle bgq_qrcp _qqgqr_lac* afcai fcpc ||||||||||||||||||||| z a Bgb rfc dmslb_rgml cle_ec gl _ npgmp wc_p gl _lw md rfc _arq bcqapg`cb gl /_* mrfcp rf_l cvacnrcb _arq* rf_r ucpc lmr amppcarcb `cdmpc rfc dgpqr b_w md rfc r_v wc_p `cegllgle gl 0.0.= |||||||||||||||||||||||||||||||||||||||

0 R_vcq ml d_gjspc rm bgqrpg`src glamkc &qcargml 2720' &bmcq lmr _nnjw dmp wc_pq rfc dmslb_rgml u_q _ npgt_rc mncp_rgle dmslb_rgml bcdglcb gl qcargml 2720&h'&1' mp 2720&h'&3''8 _ ?r rfc clb md r_v wc_p 0.0.* bgb rfc dmslb_rgml f_tc _lw slbgqrpg`srcb glamkc &N_pr VGGG* jglcq 4b _lb 4c' dmp r_v wc_p&q' `cegllgle `cdmpc 0.0.= |||||||||||||||||||||||||||||| Gd Wcq* jgqr rfc wc_pq z

V Lm Wcq

` ?pc rfcpc _lw wc_pq jgqrcb gl 0_ dmp ufgaf rfc dmslb_rgml gq lmr _nnjwgle rfc npmtgqgmlq md qcargml 2720&_'&0' &pcj_rgle rm glamppcar t_js_rgml md _qqcrq' rm rfc wc_p%q slbgqrpg`srcb glamkc= &Gd _nnjwgle qcargml 2720&_'&0' rm _jj wc_pq jgqrcb* _lqucp Lm _lb _rr_af

L-? qr_rckclr + qcc glqrpsargmlq,' |||||||||||||||||||||||||||||||||||||||||||||||||

a Gd rfc npmtgqgmlq md qcargml 2720&_'&0' _pc `cgle _nnjgcb rm _lw md rfc wc_pq jgqrcb gl 0_* jgqr rfc wc_pq fcpc, z * * * 1_ Bgb rfc dmslb_rgml fmjb kmpc rf_l _ 0# bgpcar mp glbgpcar glrcpcqr gl _lw `sqglcqq clrcpnpgqc _r _lw rgkc bspgle rfc wc_p= |||||||||||||||||||||||||||||||||||||||||||||

V Lm Wcq ` Gd Wcq* bgb gr f_tc cvacqq `sqglcqq fmjbgleq gl 0.0. _q _ pcqsjr md &/' _lw nspaf_qc `w rfc dmslb_rgml mp bgqos_jgdgcb ncpqmlq _drcp K_w 04* /7479 &0' rfc j_nqc md rfc 3+wc_p ncpgmb &mp jmlecp ncpgmb _nnpmtcb `w rfc Amkkgqqgmlcp slbcp qcargml 2721&a'&5'' rm bgqnmqc

md fmjbgleq _aosgpcb `w egdr mp `coscqr9 mp &1' rfc j_nqc md rfc /.+* /3+* mp 0.+wc_p dgpqr nf_qc fmjbgle ncpgmb= &Sqc Dmpk 250.*

L-? Qafcbsjc A* rm bcrcpkglc gd rfc dmslb_rgml f_b cvacqq `sqglcqq fmjbgleq gl 0.0.,' |||||||||||||||||||||||||| 2_ Bgb rfc dmslb_rgml gltcqr bspgle rfc wc_p _lw _kmslr gl _ k_llcp rf_r umsjb hcmn_pbgxc grq af_pgr_`jc nspnmqcq= ||||||||||||| ` Bgb rfc dmslb_rgml k_ic _lw gltcqrkclr gl _ npgmp wc_p &`sr _drcp Bcack`cp 1/* /747' rf_r amsjb hcmn_pbgxc grq af_pgr_`jc nspnmqc rf_r f_b lmr `ccl pckmtcb dpmk hcmn_pbw `cdmpc rfc dgpqr b_w md rfc r_v wc_p `cegllgle gl 0.0.= }}}}}}}}}}}}}}}}}}}}}}

1` 2_

V 2` 77.+ND Dmpk &0.0.'

.0132/ /0+.0+0.

4 /414///3 5616/4 U..363..,. 0.0.,.3... FC?JRF DMSLB?RGML DMP UCQ U..363./

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI 00+16.2176 N_pr TGG+@ Qr_rckclrq Pce_pbgle ?argtgrgcq dmp Ufgaf Dmpk 250. K_w @c Pcosgpcb "]ihncho_^#

Dmpk 77.+ND &0.0.'

3_ Bspgle rfc wc_p* bgb rfc dmslb_rgml n_w mp glasp _lw _kmslr rm8 V Lm &/' A_ppw ml npmn_e_lb_* mp mrfcpugqc _rrcknr rm gldjsclac jcegqj_rgml &qcargml 2723&c''= ||||||||||||| Wcq &0' Gldjsclac rfc msramkc md _lw qncagdga ns`jga cjcargml &qcc qcargml 2733'9 mp rm a_ppw ml* bgpcarjw mp glbgpcarjw*

|||||||||||||||||

V Lm Wcq

_lw tmrcp pcegqrp_rgml bpgtc= |||||||||||||||||||||||||||||||||||||| &1' Npmtgbc _ ep_lr rm _l glbgtgbs_j dmp rp_tcj* qrsbw* mp mrfcp qgkgj_p nspnmqcq= &2' Npmtgbc _ ep_lr rm _l mpe_lgx_rgml mrfcp rf_l _ af_pgr_`jc* cra,* mpe_lgx_rgml bcqapg`cb gl qcargml

2723&b'&2'&?'= Qcc glqrpsargmlq |||||||||||||||||||||||||||||||||||| &3' Npmtgbc dmp _lw nspnmqc mrfcp rf_l pcjgegmsq* af_pgr_`jc* qagclrgdga* jgrcp_pw* mp cbsa_rgml_j nspnmqcq* mp dmp rfc npctclrgml md apscjrw rm afgjbpcl mp _lgk_jq= |||||||||||||||||||||||||||||

Gd Wcq* _rr_af rfc qr_rckclr pcosgpcb `w Pcesj_rgmlq qcargml 31,2723+3&b', 4_ Bgb rfc dmslb_rgml* bspgle rfc wc_p* pcacgtc _lw dslbq* bgpcarjw mp glbgpcarjw* rm n_w npckgskq ml _ ncpqml_j `clcdgr amlrp_ar= ||||||||||||||||||||||||||||||||||||||||

Wcq Lm

V Lm Wcq ||||||||||||||||

V Lm 5_ ?r _lw rgkc bspgle rfc r_v wc_p* u_q rfc dmslb_rgml _ n_prw rm _ npmfg`grcb r_v qfcjrcp rp_lq_argml= ||||||||| Wcq L-? ` Gd Wcq* bgb rfc dmslb_rgml pcacgtc _lw npmaccbq mp f_tc _lw lcr glamkc _rrpg`sr_`jc rm rfc rp_lq_argml= }}}}}}}}}}}}}}}}}

` Bgb rfc dmslb_rgml* bspgle rfc wc_p* n_w npckgskq* bgpcarjw mp glbgpcarjw* ml _ ncpqml_j `clcdgr amlrp_ar= Gd Wcq rm 4`* dgjc Dmpk 665.,

6 Gq rfc dmslb_rgml qs`hcar rm rfc qcargml 274. r_v ml n_wkclr&q' md kmpc rf_l "/*...*... gl pckslcp_rgml mp cvacqq n_p_afsrc n_wkclr&q' bspgle rfc wc_p= }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

N_pr TGGG

V Wcq Gldmpk_rgml ?`msr Mddgacpq* Bgpcarmpq* Rpsqrccq* Dmslb_rgml K_l_ecpq* Fgefjw N_gb Cknjmwccq* _lb Amlrp_armpq

/ Jgqr _jj mddgacpq* bgpcarmpq* rpsqrccq* _lb dmslb_rgml k_l_ecpq _lb rfcgp amknclq_rgml, &_' L_kc _lb _bbpcqq

QCC QR?RCKCLR /1

&`' Rgrjc* _lb _tcp_ec fmspq ncp ucci bctmrcb rm nmqgrgml

&a' Amknclq_rgml &Gd lmr n_gb* clrcp +.+'

&b' Amlrpg`srgmlq rm cknjmwcc `clcdgr nj_lq _lb bcdcppcb amknclq_rgml

TGAC NPCQGBCLR MD NPMEP?K 2.,.. /12*635, 01*035, NPMEP?K MDDGACP 2.,.. 72*121, 0.*5.3, NPMEP?K MDDGACP 2.,.. 75*115, 4*556, NPMEP?K K?L?ECP 53*/42, /7*25., 2.,.. NPMEP?K MDDGACP 2*61/, 2.,.. 67*20.,

Rmr_j lsk`cp md mrfcp cknjmwccq n_gb mtcp "3.*... }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

.0133/ /0+.0+0.

140*06., 02*645,

0 Amknclq_rgml md dgtc fgefcqr+n_gb cknjmwccq &mrfcp rf_l rfmqc glajsbcb ml jglc /', Gd lmlc* clrcp LMLC, &`' Rgrjc* _lb _tcp_ec fmspq ncp ucci &_' L_kc _lb _bbpcqq md c_af cknjmwcc n_gb kmpc rf_l "3.*... &a' Amknclq_rgml bctmrcb rm nmqgrgml

BG?LC MWJCP + 504 CVAF?LEC QRPCCR* QSGRC 3/6* @SDD?JM* LW /20/. ICLLCRF ECLCUGAI + 504 CVAF?LEC QRPCCR* QSGRC 3/6* @SDD?JM* LW /20/. K?PLGC ?LLCQC + 21/ C, D?WCRRC QRPCCR* QSGRC 03.* QWP?ASQC* LW AMP?JGC P?C @PMUL + 504 CVAF?LEC QRPCCR* QSGRC 3/6* @SDD?JM* LW /20/. ICPPW HMLCQ U?PGLE + 504 CVAF?LEC QRPCCR* QSGRC 3/6* @SDD?JM* LW /20/.

Wcq Lm

V Lm Wcq

` Gd _lw _lqucp gq Wcq rm 3_&/'+&3'* bgb _lw md rfc rp_lq_argmlq d_gj rm os_jgdw slbcp rfc cvacnrgmlq bcqapg`cb gl Pcesj_rgmlq L-? qcargml 31,2723 mp gl _ asppclr lmrgac pce_pbgle bgq_qrcp _qqgqr_lac= Qcc glqrpsargmlq |||||||||||||||||||||||| Mpe_lgx_rgmlq pcjwgle ml _ asppclr lmrgac pce_pbgle bgq_qrcp _qqgqr_lac* afcai fcpc ||||||||||||||||||||| z a Gd rfc _lqucp gq Wcq rm oscqrgml 3_&2'* bmcq rfc dmslb_rgml aj_gk cvcknrgml dpmk rfc r_v `ca_sqc gr k_glr_glcb L-? cvnclbgrspc pcqnmlqg`gjgrw dmp rfc ep_lr=|||||||||||||||||||||||||||||||||||

N_ec 4

&c' Cvnclqc _aamslr* mrfcp _jjmu_lacq

., ., ., ., ., .

Dmpk 77.+ND &0.0.'

5 /414///3 5616/4 U..363..,. 0.0.,.3... FC?JRF DMSLB?RGML DMP UCQ U..363./

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI 00+16.2176 Gldmpk_rgml ?`msr Mddgacpq* Bgpcarmpq* Rpsqrccq* Dmslb_rgml K_l_ecpq* Fgefjw N_gb Cknjmwccq* _lb Amlrp_armpq "]ihncho_^#

Dmpk 77.+ND &0.0.'

N_pr TGGG

1 Dgtc fgefcqr+n_gb glbcnclbclr amlrp_armpq dmp npmdcqqgml_j qcptgacq, Gd lmlc* clrcp LMLC, &_' L_kc _lb _bbpcqq md c_af ncpqml n_gb kmpc rf_l "3.*...

RFC K?ECJJCL EPMSN JJA + /2 J?D?WCRRC QOS?PC QSGRC 612* @SDD?JM* LW /20.1

N_pr GV+?

AMLQSJRGLE QCPTGACQ

Qskk_pw md Bgpcar Af_pgr_`jc ?argtgrgcq

Jgqr rfc dmslb_rgml%q dmsp j_pecqr bgpcar af_pgr_`jc _argtgrgcq bspgle rfc r_v wc_p, Glajsbc pcjct_lr qr_rgqrga_j gldmpk_rgml qsaf _q rfc lsk`cp md mpe_lgx_rgmlq _lb mrfcp `clcdgag_pgcq qcptcb* amldcpclacq amltclcb* pcqc_paf n_ncpq npmbsacb* cra, /

&a' Amknclq_rgml

&`' Rwnc md qcptgac

Rmr_j lsk`cp md mrfcpq pcacgtgle mtcp "3.*... dmp npmdcqqgml_j qcptgacq }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

N_ec 5

31*23.,

. Cvnclqcq

AM+APC?RGLE UCJJ @CGLEQ + QSNNMPRGLE AFGJBPCL ?LB D?KGJGCQ RFPMSEF RP?SK?,

535*144,

0 SLGTCPQ?J FC?JRF A?PC ?BTMA?AW + GKNPMTGLE ?AACQQ RM FC?JRFA?PC DMP ?JJ LCU WMPICPQ

056*233,

/13*...,

QCC QR?RCKCLR /2 2

00*464,

QCC QR?RCKCLR /3 N_pr GV+@ Qskk_pw md Npmep_k+Pcj_rcb Gltcqrkclrq

Bcqapg`c rfc rum j_pecqr npmep_k+pcj_rcb gltcqrkclrq k_bc `w rfc dmslb_rgml bspgle rfc r_v wc_p ml jglcq / _lb 0,

?kmslr

L-?

?jj mrfcp npmep_k+pcj_rcb gltcqrkclrq, Qcc glqrpsargmlq, 1

Rmr_j, ?bb jglcq / rfpmsef 1

.0134/ /0+.0+0.

}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

., 77.+ND Dmpk &0.0.'

6 /414///3 5616/4 U..363..,. 0.0.,.3... FC?JRF DMSLB?RGML DMP UCQ U..363./

Dmpk 77.+ND &0.0.'

N_pr V /

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI

Kglgksk Gltcqrkclr Pcrspl

00+16.2176

&?jj bmkcqrga dmslb_rgmlq ksqr amknjcrc rfgq n_pr, Dmpcgel dmslb_rgmlq* qcc glqrpsargmlq,'

D_gp k_picr t_jsc md _qqcrq lmr sqcb &mp fcjb dmp sqc' bgpcarjw gl a_ppwgle msr af_pgr_`jc* cra,* nspnmqcq8 _ ?tcp_ec kmlrfjw d_gp k_picr t_jsc md qcaspgrgcq ||||||||||||||||||||||||||||||||| ` ?tcp_ec md kmlrfjw a_qf `_j_lacq |||||||||||||||||||||||||||||||||||||| a D_gp k_picr t_jsc md _jj mrfcp _qqcrq |||||||||||||||||||||||||||||||||||||| b Rmr_j &_bb jglcq /_* `* _lb a' |||||||||||||||||||||||||||||||||||||||||

/_ /` /a /b

c Pcbsargml aj_gkcb dmp `jmai_ec mp mrfcp d_armpq pcnmprcb ml jglcq /_ _lb /a &_rr_af bcr_gjcb cvnj_l_rgml' |||||||||||||||||||||| 0

., /c ?aosgqgrgml glbc`rcblcqq _nnjga_`jc rm jglc / _qqcrq |||||||||||||||||||||||||||||||

Qs`rp_ar jglc 0 dpmk jglc /b ||||||||||||||||||||||||||||||||||||||||||

A_qf bcckcb fcjb dmp af_pgr_`jc _argtgrgcq, Clrcp / /-0# md jglc 1 &dmp epc_rcp _kmslr* qcc glqrpsargmlq'

||||||||

Lcr t_jsc md lmlaf_pgr_`jc+sqc _qqcrq, Qs`rp_ar jglc 2 dpmk jglc 1, Clrcp fcpc _lb ml N_pr T* jglc 2 |||||||||| Kglgksk gltcqrkclr pcrspl, Clrcp 3# md jglc 3 }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

N_pr VG /

N_ec 6

Bgqrpg`sr_`jc ?kmslr &qcc glqrpsargmlq' &Qcargml 2720&h'&1' _lb &h'&3' npgt_rc mncp_rgle dmslb_rgmlq _lb acpr_gl dmpcgel mpe_lgx_rgmlq* afcai fcpc _lb bm lmr amknjcrc rfgq n_pr,'

Kglgksk gltcqrkclr pcrspl dpmk N_pr V* jglc 4 }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

0 _ R_v ml gltcqrkclr glamkc dmp 0.0. dpmk N_pr TG* jglc 3 ||||||||||| ` Glamkc r_v dmp 0.0., &Rfgq bmcq lmr glajsbc rfc r_v dpmk N_pr TG,' |||||||

/.4*74/,

0` a ?bb jglcq 0_ _lb 0` ||||||||||||||||||||||||||||||||||||||||||||| 1 Bgqrpg`sr_`jc _kmslr `cdmpc _bhsqrkclrq, Qs`rp_ar jglc 0a dpmk jglc / |||||||||||||||||||||||

Pcamtcpgcq md _kmslrq rpc_rcb _q os_jgdwgle bgqrpg`srgmlq |||||||||||||||||||||||||||||

?bb jglcq 1 _lb 2 ||||||||||||||||||||||||||||||||||||||||||||||

Bcbsargml dpmk bgqrpg`sr_`jc _kmslr &qcc glqrpsargmlq' |||||||||||||||||||||||||||||

Bgqrpg`sr_`jc _kmslr _q _bhsqrcb, Qs`rp_ar jglc 4 dpmk jglc 3, Clrcp fcpc _lb ml N_pr VGGG* jglc / }}}}}}}}}}}}

//7*621*07., /*347*652, /0/*2/1*/42, ., /0/*2/1*/42, /*60/*/75, //7*37/*745, 3*757*376, 3*757*376, /.4*74/, 3*650*415, 44*542, 3*717*2./, ., 3*717*2./,

N_pr VGG Os_jgdwgle Bgqrpg`srgmlq &qcc glqrpsargmlq' /

?kmslrq n_gb &glajsbgle _bkglgqrp_rgtc cvnclqcq' rm _aamknjgqf af_pgr_`jc* cra,* nspnmqcq8 _ Cvnclqcq* amlrpg`srgmlq* egdrq* cra, + rmr_j dpmk N_pr G* amjskl &b'* jglc 04 |||||||||||||||||||||| ` Npmep_k+pcj_rcb gltcqrkclrq + rmr_j dpmk N_pr GV+@ |||||||||||||||||||||||||||||||

?kmslrq n_gb rm _aosgpc _qqcrq sqcb &mp fcjb dmp sqc' bgpcarjw gl a_ppwgle msr af_pgr_`jc* cra,* nspnmqcq |||||||||

?kmslrq qcr _qgbc dmp qncagdga af_pgr_`jc npmhcarq rf_r q_rgqdw rfc8

2 3 4

4*0.2*554, ., 6*35.,

_ Qsgr_`gjgrw rcqr &npgmp GPQ _nnpmt_j pcosgpcb'||||||||||||||||||||||||||||||||||| ` A_qf bgqrpg`srgml rcqr &_rr_af rfc pcosgpcb qafcbsjc' |||||||||||||||||||||||||||||||

Os_jgdwgle bgqrpg`srgmlq, ?bb jglcq /_ rfpmsef 1`, Clrcp fcpc _lb ml N_pr T* jglc 69 _lb N_pr VGGG* jglc 2 ||||||||| Dmslb_rgmlq rf_r os_jgdw slbcp qcargml 272.&c' dmp rfc pcbsacb p_rc md r_v ml lcr gltcqrkclr

4*0/1*124,

glamkc, Clrcp /# md N_pr G* jglc 05` ||||||||||||||||||||||||||||||||||||||

., 4*0/1*124,

?bhsqrcb os_jgdwgle bgqrpg`srgmlq, Qs`rp_ar jglc 3 dpmk jglc 2 ||||||||||||||||||||||||||| 4 Lmrc8 Rfc _kmslr ml jglc 4 ugjj `c sqcb gl N_pr T* amjskl &`'* gl qs`qcosclr wc_pq ufcl a_jasj_rgle ufcrfcp rfc dmslb_rgml os_jgdgcq dmp rfc qcargml 272.&c' pcbsargml md r_v gl rfmqc wc_pq,

Dmpk 77.+ND &0.0.'

.0135/ /0+.0+0.

7 /414///3 5616/4 U..363..,. 0.0.,.3... FC?JRF DMSLB?RGML DMP UCQ U..363./

Dmpk 77.+ND &0.0.'

N_pr VGGG

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI

Slbgqrpg`srcb Glamkc

00+16.2176

&qcc glqrpsargmlq' &_' Ampnsq

&`' Wc_pq npgmp rm 0./7

&a' 0./7

&b' 0.0.

/ Bgqrpg`sr_`jc _kmslr dmp 0.0. dpmk N_pr VG* jglc 5 ||||||||||||||||| 0

3*717*2./,

Slbgqrpg`srcb glamkc* gd _lw* _q md rfc clb md 0.0.8

3*674*060,

_ Clrcp _kmslr dmp 0./7 mljw ||||||| ` Rmr_j dmp npgmp wc_pq8

* * 1 Cvacqq bgqrpg`srgmlq a_ppwmtcp* gd _lw* rm 0.0.8 _ Dpmk 0./3 ||| ` Dpmk 0./4 a Dpmk 0./5

|||

b Dpmk 0./6 c Dpmk 0./7

|||

||| |||

d Rmr_j md jglcq 1_ rfpmsef c |||||||| 2 Os_jgdwgle bgqrpg`srgmlq dmp 0.0. dpmk 4*0/1*124, " N_pr VGG* jglc 28

3*674*060,

_ ?nnjgcb rm 0./7* `sr lmr kmpc rf_l jglc 0_ | ` ?nnjgcb rm slbgqrpg`srcb glamkc md npgmp

wc_pq &Cjcargml pcosgpcb + qcc glqrpsargmlq' |

N_ec 7

a Rpc_rcb _q bgqrpg`srgmlq msr md ampnsq &Cjcargml pcosgpcb + qcc glqrpsargmlq' |||

b ?nnjgcb rm 0.0. bgqrpg`sr_`jc _kmslr ||| c Pck_glgle _kmslr bgqrpg`srcb msr md ampnsq

Cvacqq bgqrpg`srgmlq a_ppwmtcp _nnjgcb rm 0.0. &Gd _l _kmslr _nnc_pq gl amjskl &b'* rfc q_kc _kmslr ksqr `c qfmul gl amjskl &_',' ||||||||

4 Clrcp rfc lcr rmr_j md c_af amjskl _q glbga_rcb `cjmu8 _ Ampnsq, ?bb jglcq 1d* 2a* _lb 2c, Qs`rp_ar jglc 3 || ` Npgmp wc_pq% slbgqrpg`srcb glamkc, Qs`rp_ar

1/5*.42,

jglc 2` dpmk jglc 0` |||||||||||

a Clrcp rfc _kmslr md npgmp wc_pq% slbgqrpg`srcb glamkc dmp ufgaf _ lmrgac md bcdgagclaw f_q `ccl gqqscb* mp ml ufgaf rfc qcargml 2720&_' r_v f_q `ccl npctgmsqjw _qqcqqcb |||||||||||||||

b Qs`rp_ar jglc 4a dpmk jglc 4`, R_v_`jc _kmslr + qcc glqrpsargmlq ||||||||

c Slbgqrpg`srcb glamkc dmp 0./7, Qs`rp_ar jglc 2_ dpmk jglc 0_, R_v_`jc _kmslr + qcc glqrp,|

d Slbgqrpg`srcb glamkc dmp 0.0., Qs`rp_ar jglcq 2b _lb 3 dpmk jglc /, Rfgq _kmslr ksqr

3*400*115,

`c bgqrpg`srcb gl 0.0/ |||||||||| 5 ?kmslrq rpc_rcb _q bgqrpg`srgmlq msr md ampnsq rm q_rgqdw pcosgpckclrq gknmqcb `w qcargml /5.&`'&/'&D' mp 2720&e'&1' &Cjcargml k_w `c pcosgpcb + qcc glqrpsargmlq' ||||

6 Cvacqq bgqrpg`srgmlq a_ppwmtcp dpmk 0./3 lmr _nnjgcb ml jglc 3 mp jglc 5 |||||||

7 Cvacqq bgqrpg`srgmlq a_ppwmtcp rm 0.0/, Qs`rp_ar jglcq 5 _lb 6 dpmk jglc 4_ ||||

/. ?l_jwqgq md jglc 78 _ Cvacqq dpmk 0./4 | ` Cvacqq dpmk 0./5 | a Cvacqq dpmk 0./6 | b Cvacqq dpmk 0./7 | c Cvacqq dpmk 0.0. }

Dmpk 77.+ND &0.0.' /. /414///3 5616/4 U..363..,. 0.0.,.3... FC?JRF DMSLB?RGML DMP UCQ U..363./ .0136/ /0+.0+0.

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI N_pr VGT Npgt_rc Mncp_rgle Dmslb_rgmlq &qcc glqrpsargmlq _lb N_pr TGG+?* oscqrgml 7'

Dmpk 77.+ND &0.0.'

/ _ Gd rfc dmslb_rgml f_q pcacgtcb _ psjgle mp bcrcpkgl_rgml jcrrcp rf_r gr gq _ npgt_rc mncp_rgle dmslb_rgml* _lb rfc psjgle gq cddcargtc dmp 0.0.* clrcp rfc b_rc md rfc psjgle |||||||||||

L-?

00+16.2176

N_ec /.

` Afcai `mv rm glbga_rc ufcrfcp rfc dmslb_rgml gq _ npgt_rc mncp_rgle dmslb_rgml bcqapg`cb gl qcargml ||| 2720&h'&1' mp 2720&h'&3' Npgmp 1 wc_pq R_v wc_p 0 _ Clrcp rfc jcqqcp md rfc _bhsqrcb lcr 0.0. 0./7 &_' &`' &a' 0./6 &b' 0./5 &c' Rmr_j glamkc dpmk N_pr G mp rfc kglgksk gltcqrkclr pcrspl dpmk N_pr V dmp c_af wc_p jgqrcb ||||||||| ` 63# md jglc 0_ |||||||||| a Os_jgdwgle bgqrpg`srgmlq dpmk N_pr VGG* jglc 2* dmp c_af wc_p jgqrcb ||||| b ?kmslrq glajsbcb gl jglc 0a lmr sqcb bgpcarjw dmp _argtc amlbsar md cvcknr _argtgrgcq ||||||||| c Os_jgdwgle bgqrpg`srgmlq k_bc bgpcarjw dmp _argtc amlbsar md cvcknr _argtgrgcq, 1

Qs`rp_ar jglc 0b dpmk jglc 0a|||| Amknjcrc 1_* `* mp a dmp rfc _jrcpl_rgtc rcqr pcjgcb snml8 _ ?qqcrq _jrcpl_rgtc rcqr + clrcp8 &/' T_jsc md _jj _qqcrq |||||| &0' T_jsc md _qqcrq os_jgdwgle slbcp qcargml 2720&h'&1'&@'&g' | ` Clbmukclr _jrcpl_rgtc rcqr + clrcp 0-1 md kglgksk gltcqrkclr pcrspl qfmul gl N_pr V* jglc 4* dmp c_af wc_p jgqrcb |||||||||||||| a Qsnnmpr _jrcpl_rgtc rcqr + clrcp8 &/' Rmr_j qsnnmpr mrfcp rf_l epmqq gltcqrkclr glamkc &glrcpcqr* bgtgbclbq* pclrq* n_wkclrq ml qcaspgrgcq jm_lq &qcargml 3/0&_'&3''* mp pmw_jrgcq' |||| &0' Qsnnmpr dpmk eclcp_j ns`jga _lb 3 mp kmpc cvcknr mpe_lgx_rgmlq _q npmtgbcb gl qcargml 2720&h'&1'&@'&ggg' ||| &1' J_pecqr _kmslr md qsnnmpr dpmk _l cvcknr mpe_lgx_rgml |||| &2' Epmqq gltcqrkclr glamkc }}}

N_pr VT /

Qsnnjckclr_pw Gldmpk_rgml &Amknjcrc rfgq n_pr mljw gd rfc dmslb_rgml f_b "3*... mp kmpc gl _qqcrq _r _lw rgkc bspgle rfc wc_p+qcc glqrpsargmlq,'

Gldmpk_rgml Pce_pbgle Dmslb_rgml K_l_ecpq8 _ Jgqr _lw k_l_ecpq md rfc dmslb_rgml ufm f_tc amlrpg`srcb kmpc rf_l 0# md rfc rmr_j amlrpg`srgmlq pcacgtcb `w rfc dmslb_rgml `cdmpc rfc ajmqc md _lw r_v wc_p &`sr mljw gd rfcw f_tc amlrpg`srcb kmpc rf_l "3*...', &Qcc qcargml 3.5&b'&0','

LMLC ` Jgqr _lw k_l_ecpq md rfc dmslb_rgml ufm mul /.# mp kmpc md rfc qrmai md _ ampnmp_rgml &mp _l cos_jjw j_pec nmprgml md rfc mulcpqfgn md _ n_prlcpqfgn mp mrfcp clrgrw' md ufgaf rfc dmslb_rgml f_q _ /.# mp epc_rcp glrcpcqr,

LMLC 0

Gldmpk_rgml Pce_pbgle Amlrpg`srgml* Ep_lr* Egdr* Jm_l* Qafmj_pqfgn* cra,* Npmep_kq8 Afcai fcpc gd rfc dmslb_rgml mljw k_icq amlrpg`srgmlq rm npcqcjcarcb af_pgr_`jc mpe_lgx_rgmlq _lb bmcq lmr _aacnr slqmjgagrcb pcoscqrq dmp dslbq, Gd rfc dmslb_rgml k_icq egdrq* ep_lrq* cra,* rm glbgtgbs_jq mp mpe_lgx_rgmlq slbcp mrfcp amlbgrgmlq* amknjcrc grckq 0_* `* a* _lb b,

_ Rfc l_kc* _bbpcqq* _lb rcjcnfmlc lsk`cp mp ck_gj _bbpcqq md rfc ncpqml rm ufmk _nnjga_rgmlq qfmsjb `c _bbpcqqcb8

QCC QR?RCKCLR /4 ` Rfc dmpk gl ufgaf _nnjga_rgmlq qfmsjb `c qs`kgrrcb _lb gldmpk_rgml _lb k_rcpg_jq rfcw qfmsjb glajsbc8 a ?lw qs`kgqqgml bc_bjglcq8 b ?lw pcqrpgargmlq mp jgkgr_rgmlq ml _u_pbq* qsaf _q `w ecmep_nfga_j _pc_q* af_pgr_`jc dgcjbq* iglbq md glqrgrsrgmlq* mp mrfcp d_armpq8

Dmpk 77.+ND &0.0.' // /414///3 5616/4 U..363..,. 0.0.,.3... FC?JRF DMSLB?RGML DMP UCQ U..363./ .014./ /0+.0+0.

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI Dmpk 77.+ND &0.0.' N_pr VT Qsnnjckclr_pw Gldmpk_rgml "]ihncho_^# 1

Ep_lrq _lb Amlrpg`srgmlq N_gb Bspgle rfc Wc_p mp ?nnpmtcb dmp Dsrspc N_wkclr Gd pcagngclr gq _l glbgtgbs_j* Pcagngclr Dmslb_rgml qfmu _lw pcj_rgmlqfgn rm qr_rsq md _lw dmslb_rgml k_l_ecp L_kc _lb _bbpcqq &fmkc mp `sqglcqq' pcagngclr mp qs`qr_lrg_j amlrpg`srmp

00+16.2176

Nspnmqc md ep_lr mp amlrpg`srgml

N_ec //

?kmslr

_ J[c^ ^olcha nb_ s_[l

QCC AMLRGLS?RGML QFCCR&Q' Rmr_j }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}} ;jjlip_^ `il `onol_ j[sg_hn `

77.+ND Dmpk &0.0.'

LMLC

QCC AMLRGLS?RGML QFCCR&Q' Rmr_j }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}} .014// /0+.0+0.

/0 /414///3 5616/4 U..363..,. 0.0.,.3... FC?JRF DMSLB?RGML DMP UCQ U..363./

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI

Dmpk 77.+ND &0.0.'

N_pr VTG+?

00+16.2176

N_ec /0

?l_jwqgq md Glamkc+Npmbsagle ?argtgrgcq

Clrcp epmqq _kmslrq sljcqq mrfcpugqc glbga_rcb, / Npmep_k qcptgac pctclsc8

Slpcj_rcb `sqglcqq glamkc &_' @sqglcqq ambc

&`' ?kmslr

Cvajsbcb `w qcargml 3/0* 3/1* mp 3/2

&a'

Cvajs+ qgml ambc

&b' ?kmslr

&c' Pcj_rcb mp cvcknr dslargml glamkc

_ ` a b c d e Dccq _lb amlrp_arq dpmk emtcplkclr _eclagcq ||| 0 Kck`cpqfgn bscq _lb _qqcqqkclrq ||||||||| 1 Glrcpcqr ml q_tgleq _lb rcknmp_pw a_qf gltcqrkclrq |||||||||||||||||||| 2 Bgtgbclbq _lb glrcpcqr dpmk qcaspgrgcq |||||||| 3 Lcr pclr_j glamkc mp &jmqq' dpmk pc_j cqr_rc8

670*315,

0*041,

1*073*.35,

_ Bc`r+dgl_lacb npmncprw ||||||||||||| ` Lmr bc`r+dgl_lacb npmncprw |||||||||||| 4 Lcr pclr_j glamkc mp &jmqq' dpmk ncpqml_j npmncprw ||||||||||||||||||||| 5 Mrfcp gltcqrkclr glamkc |||||||||||||| 6 E_gl mp &jmqq' dpmk q_jcq md _qqcrq mrfcp rf_l gltclrmpw ||||||||||||||||||| 7 Lcr glamkc mp &jmqq' dpmk qncag_j ctclrq ||||||| /. Epmqq npmdgr mp &jmqq' dpmk q_jcq md gltclrmpw ||||| // Mrfcp pctclsc8 _

PCRSPLCB EP?LR DSLBQ

/7*330,

` a b c ., 2*/67*635, /0 Qs`rmr_j, ?bb amjsklq &`'* &b'* _lb &c' |||||||| /1 Rmr_j, ?bb jglc /0* amjsklq &`'* &b'* _lb &c' |||||||||||||||||||||||||||||||||||||| /1

/7*330, 2*0.7*2.7,

&Qcc umpiqfccr gl jglc /1 glqrpsargmlq rm tcpgdw a_jasj_rgmlq,'

N_pr VTG+@

Cvnj_gl `cjmu fmu c_af _argtgrw dmp ufgaf glamkc gq pcnmprcb gl amjskl &c' md N_pr VTG+? amlrpg`srcb gknmpr_lrjw rm rfc _aamknjgqfkclr md rfc dmslb_rgml%q cvcknr nspnmqcq &mrfcp rf_l `w npmtgbgle dslbq dmp qsaf nspnmqcq',

Jglc Lm,

Pcj_rgmlqfgn md ?argtgrgcq rm rfc ?aamknjgqfkclr md Cvcknr Nspnmqcq

PCRSPLCB EP?LR DSLBQ

Dmpk 77.+ND &0.0.' /1 /414///3 5616/4 U..363..,. 0.0.,.3... FC?JRF DMSLB?RGML DMP UCQ U..363./ .0140/ /0+.0+0.

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI 00+16.2176 Gldmpk_rgml Pce_pbgle Rp_lqdcpq rm _lb Rp_lq_argmlq _lb Pcj_rgmlqfgnq Ugrf Lmlaf_pgr_`jc Cvcknr Mpe_lgx_rgmlq

Dmpk 77.+ND &0.0.'

N_pr VTGG /

Bgb rfc mpe_lgx_rgml bgpcarjw mp glbgpcarjw cle_ec gl _lw md rfc dmjjmugle ugrf _lw mrfcp mpe_lgx_rgml bcqapg`cb gl qcargml 3./&a'

N_ec /1

Wcq Lm

&mrfcp rf_l qcargml 3./&a'&1' mpe_lgx_rgmlq' mp gl qcargml 305* pcj_rgle rm nmjgrga_j mpe_lgx_rgmlq= _ Rp_lqdcpq dpmk rfc pcnmprgle dmslb_rgml rm _ lmlaf_pgr_`jc cvcknr mpe_lgx_rgml md8 &/' A_qf ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||

V V

/_&/'

&0' Mrfcp _qqcrq ||||||||||||||||||||||||||||||||||||||||||||||||||||||| ` Mrfcp rp_lq_argmlq8 &/' Q_jcq md _qqcrq rm _ lmlaf_pgr_`jc cvcknr mpe_lgx_rgml ||||||||||||||||||||||||||||||||||||

/_&0'

&0' Nspaf_qcq md _qqcrq dpmk _ lmlaf_pgr_`jc cvcknr mpe_lgx_rgml ||||||||||||||||||||||||||||||||| &1' Pclr_j md d_agjgrgcq* cosgnkclr* mp mrfcp _qqcrq ||||||||||||||||||||||||||||||||||||||||

/`&0'

&2' Pcgk`spqckclr _pp_leckclrq ||||||||||||||||||||||||||||||||||||||||||||||| &3' Jm_lq mp jm_l es_p_lrccq |||||||||||||||||||||||||||||||||||||||||||||||||

/`&2'

/`&/' /`&1' /`&3'

&4' Ncpdmpk_lac md qcptgacq mp kck`cpqfgn mp dslbp_gqgle qmjgagr_rgmlq |||||||||||||||||||||||||||||| /`&4' a Qf_pgle md d_agjgrgcq* cosgnkclr* k_gjgle jgqrq* mrfcp _qqcrq* mp n_gb cknjmwccq |||||||||||||||||||||||||||| /a b Gd rfc _lqucp rm _lw md rfc _`mtc gq Wcq* amknjcrc rfc dmjjmugle qafcbsjc, Amjskl &`' qfmsjb _ju_wq qfmu rfc d_gp k_picr t_jsc md rfc emmbq* mrfcp _qqcrq* mp qcptgacq egtcl `w rfc pcnmprgle dmslb_rgml, Gd rfc dmslb_rgml pcacgtcb jcqq rf_l d_gp k_picr t_jsc gl _lw rp_lq_argml mp qf_pgle _pp_leckclr* qfmu gl amjskl &b' rfc t_jsc md rfc emmbq* mrfcp _qqcrq* mp qcptgacq pcacgtcb, &_' Jglc lm, &`' ?kmslr gltmjtcb &a' L_kc md lmlaf_pgr_`jc cvcknr mpe_lgx_rgml &b' Bcqapgnrgml md rp_lqdcpq* rp_lq_argmlq* _lb qf_pgle _pp_leckclrq

V V V V V V V

L-?

0_ Gq rfc dmslb_rgml bgpcarjw mp glbgpcarjw _ddgjg_rcb ugrf* mp pcj_rcb rm* mlc mp kmpc r_v+cvcknr mpe_lgx_rgmlq bcqapg`cb gl qcargml 3./&a' &mrfcp rf_l qcargml 3./&a'&1'' mp gl qcargml 305= |||||||||||||||||||||||||||||||| ` Gd Wcq* amknjcrc rfc dmjjmugle qafcbsjc, &_' L_kc md mpe_lgx_rgml

&`' Rwnc md mpe_lgx_rgml

Wcq

&a' Bcqapgnrgml md pcj_rgmlqfgn

L-?

Qgel Fcpc

Slbcp ncl_jrgcq md ncphspw* G bcaj_pc rf_r G f_tc cv_kglcb rfgq pcrspl* glajsbgle _aamkn_lwgle qafcbsjcq _lb qr_rckclrq* _lb rm rfc `cqr md kw ilmujcbec _lb `cjgcd* gr gq rpsc* amppcar* _lb amknjcrc, Bcaj_p_rgml md npcn_pcp &mrfcp rf_l r_vn_wcp' gq `_qcb ml _jj gldmpk_rgml md ufgaf npcn_pcp f_q _lw ilmujcbec,

K_w rfc GPQ bgqasqq rfgq pcrspl ugrf rfc npcn_pcp qfmul `cjmu= Qcc glqrp,

NPCQGBCLR Qgel_rspc md mddgacp mp rpsqrcc Npglr-Rwnc npcn_pcp%q l_kc

B_rc Npcn_pcp%q qgel_rspc

Rgrjc B_rc

Afcai

Wcq

NRGL

qcjd+ cknjmwcb

N_gb Npcn_pcp Sqc Mljw

Q?P?F K, FMNIGLQ Q?P?F K, FMNIGLQ JSKQBCL $ KAAMPKGAI* JJN Dgpk%q l_kc

147 DP?LIJGL QRPCCR @SDD?JM* LW /20.0

//-/3-0/ Dgpk%q CGL

N.0./.5./ /4+.543264

Dgpk%q _bbpcqq

.01400 /0+.0+0.

Nfmlc lm,

&5/4'634+11.. Dmpk 77.+ND &0.0.'

/2 /414///3 5616/4 U..363..,. 0.0.,.3... FC?JRF DMSLB?RGML DMP UCQ U..363./

&+,/'5(1 )$0,/,(6 75$80$ %8,/',1* 5(6,/,(1&< 3+$6( ,

%,621 6&+2/$56+,3 )81'

$5'(17 62/87,216 1257+ 0$,1 675((7 68,7( :(//69,//( 1<

%(/0217 +286,1* 5(6285&(6 )25 :1< ,1& 0$,1 675((7 %8))$/2 1<

%,621 &+,/'5(1 6 6&+2/$56+,3 )81' ,1& 32 %2; %8))$/2 1<

%26721 )281'$7,21 ,1& $5/,1*721 675((7 5' )/225 %26721 0$

.0142/ .2+./+0.

Rmr_j dpmk amlrgls_rgml qfccrq }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

&20081,7,(6 &$5( :1< 5(63,7( 3,/27

%8,/',1* 285 $'92&$&< +($/7+ )25 $//

$5'(17 62/87,216 1257+ 0$,1 675((7 68,7( :(//69,//( 1<

62&,$/ :25. 35$&7,9( )(//2:6 (;3$16,21 ,1 &1<

?kmslr

$'(/3+, 81,9(56,7< 6287+ $9(18( *$5'(1 &,7< 1<

Nspnmqc md ep_lr mp amlrpg`srgml

62&,$/ :25. 35$&7,&( )(//2:6

Dmslb_rgml qr_rsq md pcagngclr

N_ec //

Gd pcagngclr gq _l glbgtgbs_j* qfmu _lw pcj_rgmlqfgn rm _lw dmslb_rgml k_l_ecp mp qs`qr_lrg_j amlrpg`srmp

00+16.2176

$'(/3+, 81,9(56,7< 6287+ $9(18( *$5'(1 &,7< 1<

L_kc _lb _bbpcqq &fmkc mp `sqglcqq'

1_ Ep_lrq _lb Amlrpg`srgmlq N_gb Bspgle rfc Wc_p Pcagngclr

N_pr VT

Dmpk 77.+ND

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI Qsnnjckclr_pw Gldmpk_rgml &amlrglscb'

&+,/'5(1 )$0,/,(6 75$80$ %8,/',1* 5(6,/,(1&< 3+$6( ,

&&+1 '28/$ 352*5$0

&(17(5 )25 (/'(5 /$: $1' -867,&( (0(5*(1&< )81'

&$77$5$8*86 &2817< 352-(&7 +($' 67$57 ,1& 6 7+ 675((7 2/($1 1<

&$<8*$ &20081,7< +($/7+ 1(7:25. ,1& : *(1(6(( 675((7 52$' $8%851 1<

&(17(5 )25 (/'(5 /$: $1' -867,&( 0$,1 675((7 68,7( %8))$/2 1<

&(17(5 )25 *29(510(17$/ 5(6($5&+ &*5 21( 6287+ :$6+,1*721 675((7 68,7( 52&+(67(5 1<

.0142/ .2+./+0.

Rmr_j dpmk amlrgls_rgml qfccrq }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

%,621 6&+2/$56+,3 )81'

&+,/'5(1 )$0,/,(6 75$80$ %8,/',1* 5(6,/,(1&< 3+$6( ,

&$77$5$8*86 &20081,7< $&7,21 -())(5621 675((7 6$/$0$1&$ 1<

$57 029(6 0(

?kmslr

%85&+),(/' 3(11(< $57 &(17(5 (/0:22' $9(18( %8))$/2 1<

Nspnmqc md ep_lr mp amlrpg`srgml

&+,/'5(1 )$0,/,(6 75$80$ %8,/',1* 5(6,/,(1&< 3+$6( ,

Dmslb_rgml qr_rsq md pcagngclr

N_ec //

Gd pcagngclr gq _l glbgtgbs_j* qfmu _lw pcj_rgmlqfgn rm _lw dmslb_rgml k_l_ecp mp qs`qr_lrg_j amlrpg`srmp

00+16.2176

%8))$/2 35(1$7$/ 3(5,1$7$/ 1(7:25. '(/$:$5( $9(18( 68,7( %8))$/2 1<

L_kc _lb _bbpcqq &fmkc mp `sqglcqq'

1_ Ep_lrq _lb Amlrpg`srgmlq N_gb Bspgle rfc Wc_p Pcagngclr

N_pr VT

Dmpk 77.+ND

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI Qsnnjckclr_pw Gldmpk_rgml &amlrglscb'

&+$87$848$ 5(*,21$/ &20081,7< )281'$7,21 %$%< &$)( &20081,&$7,216

352027,1* ($5/< &+,/'+22' '(9(/230(17 7+528*+ 3/$<*52836

&+,/'5(1 )$0,/,(6 75$80$ %8,/',1* 5(6,/,(1&< 3+$6( ,

&+$87$848$ 5(*,21 &20081,7< )281'$7,21 635,1* 675((7 -$0(672:1 1<

&+,/' &$5( 62/87,216 3$5.6,'( $9(18( 6<5$&86( 1<

&+,/' '(9(/230(17 &281&,/ 2) &(175$/ 1< :(67 &/,1721 675((7 ,7+$&$ 1<

&,7,=(1 %8'*(7 &200,66,21 :(67 7+ 675((7 68,7( 1(: <25. 1<

.0142/ .2+./+0.

Rmr_j dpmk amlrgls_rgml qfccrq }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

81,9(56$/ +($/7+ &$5( $'92&$&<

&+$87$848$ &2817< 2)$

&+$87$848$ &2817< 2)),&( )25 7+( $*,1* 1257+ (5,( 675((7 0$<9,//( 1<

&+$87$848$ &2817< +($/7+ 1(7:25.

?kmslr

&+$87$848$ &2817< +($/7+ 1(7:25. ,1& +$55,621 67 68,7( -$0(672:1 1<

Nspnmqc md ep_lr mp amlrpg`srgml

&29,' 5(63216( )81'

Dmslb_rgml qr_rsq md pcagngclr

N_ec //

Gd pcagngclr gq _l glbgtgbs_j* qfmu _lw pcj_rgmlqfgn rm _lw dmslb_rgml k_l_ecp mp qs`qr_lrg_j amlrpg`srmp

00+16.2176

&(175$/ 1(: <25. &20081,7< )281'$7,21 ,1& ( )$<(77( 67 68,7( 6<5$&86( 1<

L_kc _lb _bbpcqq &fmkc mp `sqglcqq'

1_ Ep_lrq _lb Amlrpg`srgmlq N_gb Bspgle rfc Wc_p Pcagngclr

N_pr VT

Dmpk 77.+ND

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI Qsnnjckclr_pw Gldmpk_rgml &amlrglscb'

,1129$7,216 ,1 &+,/'5(1 6 +($/7+ 5)3 352*5$0

+(/3 0( *52: :1< %5,'*( )81',1*

$*,1* 0$67(5< 352*5$0

&20081,7< &211(&7,216 2) 1< ,1& (;&+$1*( 675((7 68,7( %8))$/2 1<

.0142/ .2+./+0.

Rmr_j dpmk amlrgls_rgml qfccrq }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

3('$/6 &1< +8% '(9(/230(17 $1' (;3$16,21

&+,/'5(1 )$0,/,(6 75$80$ %8,/',1* 5(6,/,(1&< 3+$6( ,

&20081,7< $&7,21 352*5$0 )25 0$',621 &2817< ,1& ($67 0$,1 675((7 0255,69,//( 1<

&+,/'5(1 )$0,/,(6 75$80$ %8,/',1* 5(6,/,(1&< 3+$6( ,

?kmslr

&20081,7< $&7,21 2) 25/($16 *(1(6(( ($67 67$7( 675((7 $/%,21 1<

Nspnmqc md ep_lr mp amlrpg`srgml

%8))$/2 &,7< 0,66,21 1(;7 &(1785< &$03$,*1

Dmslb_rgml qr_rsq md pcagngclr

N_ec //

Gd pcagngclr gq _l glbgtgbs_j* qfmu _lw pcj_rgmlqfgn rm _lw dmslb_rgml k_l_ecp mp qs`qr_lrg_j amlrpg`srmp

00+16.2176

&,7< 0,66,21 62&,(7< ,1& ( 7833(5 %8))$/2 1<

L_kc _lb _bbpcqq &fmkc mp `sqglcqq'

1_ Ep_lrq _lb Amlrpg`srgmlq N_gb Bspgle rfc Wc_p Pcagngclr

N_pr VT

Dmpk 77.+ND

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI Qsnnjckclr_pw Gldmpk_rgml &amlrglscb'

&20081,7< )281'$7,21 2) 7203.,16 &2817< &29,' )81'

&29,' 67,3(1'

&+,/'5(1 )$0,/,(6 75$80$ %8,/',1* 5(6,/,(1&< 3+$6( ,

&20081,7< )281'$7,21 2) 7203.,16 &2817< 1257+ $8525$ 675((7 ,7+$&$ 1<

&20081,7< 6(59,&(6 )25 (9(5< ,1& 2$. 675((7 %8))$/2 1<

&251(// &223(5$7,9( (;7(16,21 67$7( 5287( +(5.,0(5 1<

.0142/ .2+./+0.

Rmr_j dpmk amlrgls_rgml qfccrq }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

,1129$7,216 ,1 &1<

675$7(*,& 3/$11,1* ,03/(0(17$7,21 352*5$0

&20081,7< &211(&7,216 2) 1< ,1& (;&+$1*( 675((7 68,7( %8))$/2 1<

'(, $'9$1&(0(17 )81'

?kmslr

&20081,7< &211(&7,216 2) 1< ,1& (;&+$1*( 675((7 68,7( %8))$/2 1<

Nspnmqc md ep_lr mp amlrpg`srgml

185785,1* 3$5(17 352*5$0

Dmslb_rgml qr_rsq md pcagngclr

N_ec //

Gd pcagngclr gq _l glbgtgbs_j* qfmu _lw pcj_rgmlqfgn rm _lw dmslb_rgml k_l_ecp mp qs`qr_lrg_j amlrpg`srmp

00+16.2176

&20081,7< &211(&7,216 2) 1< ,1& (;&+$1*( 675((7 68,7( %8))$/2 1<

L_kc _lb _bbpcqq &fmkc mp `sqglcqq'

1_ Ep_lrq _lb Amlrpg`srgmlq N_gb Bspgle rfc Wc_p Pcagngclr

N_pr VT

Dmpk 77.+ND

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI Qsnnjckclr_pw Gldmpk_rgml &amlrglscb'

3$571(56+,36 +($/7+< &20081,7,(6 3+$6(

$*,1* %< '(6,*1

(5,( &2817< '28/$ 3,/27 352*5$0 &225',1$7,21

*297

(5,( &2817< '(3$570(17 2) 6(1,25 6(59,&(6 )5$1./,1 675((7 7+ )/225 %8))$/2 1<

(5,( 1,$*$5$ $5($ +($/7+ ('8&$7,21 &(17(5 /,1:22' $9(18( %8))$/2 1<

)((' %8))$/2 0$66$&+86(776 $9( %8))$/2 1<

.0142/ .2+./+0.

Rmr_j dpmk amlrgls_rgml qfccrq }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

)((' %8))$/2 $0(5,&2536 /,6&

1$7,21$/ &2//$%25$725< 72 $''5(66 (/'(5 0,675($70(17

('8&$7,21 '(9(/230(17 &(17(5 ,1& )281'5< $9(18( :$/7+$0 0$

1$7,21$/ &2//$%25$725< 72 $''5(66 (/'(5 0,675($70(17

?kmslr

($67(51 1,$*$5$ +263,7$/ ,1& ($67 $9(18( /2&.3257 1<

Nspnmqc md ep_lr mp amlrpg`srgml

*1$ &2*1,7,9( 6&5((1,1* 722/

Dmslb_rgml qr_rsq md pcagngclr

N_ec //

Gd pcagngclr gq _l glbgtgbs_j* qfmu _lw pcj_rgmlqfgn rm _lw dmslb_rgml k_l_ecp mp qs`qr_lrg_j amlrpg`srmp

00+16.2176

' <289,//( &2//(*( 3257(5 $9(18( %8))$/2 1<

L_kc _lb _bbpcqq &fmkc mp `sqglcqq'

1_ Ep_lrq _lb Amlrpg`srgmlq N_gb Bspgle rfc Wc_p Pcagngclr

N_pr VT

Dmpk 77.+ND

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI Qsnnjckclr_pw Gldmpk_rgml &amlrglscb'

0(0%(56+,3

*5$170$.(56 ,1 +($/7+

*5$6652276 *$5'(16 :1< /$1' 75867 $&&5(',7$7,21

*5$170$.(56 ,1 $*,1* -())(5621 '$9,6 +,*+:$< 68,7( $5/,1*721 9$

*5$170$.(56 ,1 +($/7+ &211(&7,&87 $9(18( 1: 68,7( :$6+,1*721 '&

*5$6652276 *$5'(16 2) :(67(51 1(: <25. ,1& %52$':$< %8))$/2 1<

+$0,/721 6(1,25 &,7,=(16 ,1& 0$',621 /$1( +$0,/721 1<

.0142/ .2+./+0.

Rmr_j dpmk amlrgls_rgml qfccrq }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

+$0,/721 6(1,25 &,7,=(16 ,1& 0($/ 352*5$0

*5$17 0$.(56 )2580

*5$170$.(56 )25 ())(&7,9( 25*$1,=$7,216 *(2 '(6$/(6 675((7 1: 67( :$6+,1*721 '&

3$5,6+ 2875($&+ &(17(5

?kmslr

*(1(6(2 3$5,6+ 2875($&+ &(17(5 ,1& *(1(6(( 675((7 *(1(6(2 1<

Nspnmqc md ep_lr mp amlrpg`srgml

&+,/'5(1 )$0,/,(6 75$80$ %8,/',1* 5(6,/,(1&< 3+$6( ,

Dmslb_rgml qr_rsq md pcagngclr

N_ec //

Gd pcagngclr gq _l glbgtgbs_j* qfmu _lw pcj_rgmlqfgn rm _lw dmslb_rgml k_l_ecp mp qs`qr_lrg_j amlrpg`srmp

00+16.2176

*(1(6(( &281&,/ 21 $/&2+2/,60 $1' 68%67$1&( $%86( ,1& ( 0$,1 675((7 %$7$9,$ 1<

L_kc _lb _bbpcqq &fmkc mp `sqglcqq'

1_ Ep_lrq _lb Amlrpg`srgmlq N_gb Bspgle rfc Wc_p Pcagngclr

N_pr VT

Dmpk 77.+ND

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI Qsnnjckclr_pw Gldmpk_rgml &amlrglscb'

+($/7+< &20081,7< $//,$1&( &%2 &216257,80

&%2 &216257,80 &$3$&,7< %8,/',1* 352*5$0

%8,/',1* 285 $'92&$&< +($/7+ )25 $//

+($/7+< &20081,7< $//,$1&( ,1& -$0(672:1 675((7 *2:$1'$ 1<

+($576 $1' +$1'6 1257+ )25(67 52$' 68,7( *(7=9,//( 1<

.0142/ .2+./+0.

Rmr_j dpmk amlrgls_rgml qfccrq }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

&$// 72 $&7,21 (48,7$%/( 75$163257$7,21

&$// 72 $&7,21 &20081,7< ,1)250$7,21 (;&+$1*(

+($/7+< &20081,7< $//,$1&( ,1& 6&+22/ 675((7 68,7( *2:$1'$ 1<

$*( )5,(1'/< +($/7+ 6<67(06

?kmslr

+($/7+&$5( $662&,$7,21 2) 1(: <25. 67$7( (03,5( '5,9( 5(166(/$(5 1<

Nspnmqc md ep_lr mp amlrpg`srgml

&20081,7< &21&(51 0(',&$,' &203/,$1&( 35272&2/ '(9(/230(17

Dmslb_rgml qr_rsq md pcagngclr

N_ec //

Gd pcagngclr gq _l glbgtgbs_j* qfmu _lw pcj_rgmlqfgn rm _lw dmslb_rgml k_l_ecp mp qs`qr_lrg_j amlrpg`srmp

00+16.2176

+$5021,$ &2//$% &20081,7< &21&(51 2) :(67(51 1(: <25. ,1& (5,( 52$' '(5%< 1<

L_kc _lb _bbpcqq &fmkc mp `sqglcqq'

1_ Ep_lrq _lb Amlrpg`srgmlq N_gb Bspgle rfc Wc_p Pcagngclr

N_pr VT

Dmpk 77.+ND

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI Qsnnjckclr_pw Gldmpk_rgml &amlrglscb'

+($/7+< &211(&7,216 )520 7+( 67$57 ,&$1

$*,1* %< '(6,*1

,1129$7,216 ,1 &1<

,17(*5$7(' &20081,7< .,'6 21(,'$ ,1& 0$,1 675((7 87,&$ 1<

,17(5)$,7+ :25.6 2) &(175$/ 1(: <25. -$0(6 675((7 6<5$&86( 1<

.0142/ .2+./+0.

Rmr_j dpmk amlrgls_rgml qfccrq }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

2121'$*$ &2817< $*,1* 6(59,&(6 &2$/,7,21

3/$11,1* 6833257 )25 &20081,7< 6(59,&( 25*$1,=$7,216

+80$1 6(59,&(6 &2$/,7,21 2) 7203.,16 &2 : 6(1(&$ 675((7 ,7+$&$ 1<

)(//2:6 &2+257

?kmslr

+20( +($'48$57(56 ,1& (5,( %/9' :(67 6<5$&86( 1<

Nspnmqc md ep_lr mp amlrpg`srgml

&$9,7< )5(( .,'6 6833/,(6 5(3/(1,6+0(17 )81'

Dmslb_rgml qr_rsq md pcagngclr

N_ec //

Gd pcagngclr gq _l glbgtgbs_j* qfmu _lw pcj_rgmlqfgn rm _lw dmslb_rgml k_l_ecp mp qs`qr_lrg_j amlrpg`srmp

00+16.2176

+2/< &5266 +($' 67$57 ,1& 0$5</$1' 675((7 %8))$/2 1<

L_kc _lb _bbpcqq &fmkc mp `sqglcqq'

1_ Ep_lrq _lb Amlrpg`srgmlq N_gb Bspgle rfc Wc_p Pcagngclr

N_pr VT

Dmpk 77.+ND

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI Qsnnjckclr_pw Gldmpk_rgml &amlrglscb'

/(8.(0,$ $1' /<03+20$ 62&,(7< 75$163257$7,21 $66,67$1&(

/,)(63$1 &20081,7< &$5( &211(&7,216

/21* 7(50 &$5( &20081,7< &2$/,7,21 &29,' &$5( ('8&$7,21

/(8.(0,$ /<03+20$ 62&,(7< 0$3/( 52$' 68,7( $0+(567 1<

/,)(63$1 2) *5($7(5 52&+(67(5 ,1& 6 &/,1721 $9( 52&+(67(5 1<

/21* 7(50 &$5( &20081,7< &2$/,7,21 3(11 3/$=$ 68,7( 1(: <25. 1<

/29( /,9,1* $7 +20( :$55(1 52$' ,7+$&$ 1<

.0142/ .2+./+0.

Rmr_j dpmk amlrgls_rgml qfccrq }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

/29( /,9,1* $7 +20(

+($/7+< &211(&7,216 )520 7+( 67$57 ,&$1

.,'6 21(,'$ ,1& 0$,1 675((7 87,&$ 1<

(5,( &2817< '66 &36 &+: 352-(&7

?kmslr

-(5,&+2 52$' 0,1,675,(6 ,1& %$5721 675((7 %8))$/2 1<

Nspnmqc md ep_lr mp amlrpg`srgml

&+,/'5(1 )$0,/,(6 75$80$ %8,/',1* 5(6,/,(1&< 3+$6( ,

Dmslb_rgml qr_rsq md pcagngclr

N_ec //

Gd pcagngclr gq _l glbgtgbs_j* qfmu _lw pcj_rgmlqfgn rm _lw dmslb_rgml k_l_ecp mp qs`qr_lrg_j amlrpg`srmp

00+16.2176

,17(5)$,7+ :25.6 2) &(175$/ 1(: <25. -$0(6 675((7 6<5$&86( 1<

L_kc _lb _bbpcqq &fmkc mp `sqglcqq'

1_ Ep_lrq _lb Amlrpg`srgmlq N_gb Bspgle rfc Wc_p Pcagngclr

N_pr VT

Dmpk 77.+ND

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI Qsnnjckclr_pw Gldmpk_rgml &amlrglscb'

$*,1* 0$67(5< 352*5$0

3$571(56+,36 +($/7+< &20081,7,(6 3+$6(

81,9(56$/ +($/7+ &$5( $'92&$&<

1$7,21$/ &281&,/ 21 $*,1* ,1& 7+ 675((7 6287+ 68,7( $5/,1*721 9$

1(: <25. $&$'(0< 2) 0(',&,1( ),)7+ $9(18( 5220 1(: <25. 1<

1(: <25. 67$7(:,'( 6(1,25 $&7,21 &281&,/ ,1& 67$7( 675((7 $/%$1< 1<

1257+(51 26:(*2 &2817< +($/7+ 6(59,&(6 ,1& '(/$12 675((7 38/$6., 1<

.0142/ .2+./+0.

Rmr_j dpmk amlrgls_rgml qfccrq }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

8367$7( &20081,7< +($/7+ &2//$%25$7,9( ,3$ 3+$6(

,03/,&,7 352-(&7 :1< &1< (;3$16,21

0$5&+ 2) ',0(6 )281'$7,21 :,1721 3/$&( 68,7( 52&+(67(5 1<

0$1/,86 6(1,25 $&7,9,7< &(17(5 )22' 352*5$0

?kmslr

0$1/,86 6(1,25 &(175( $5.,( $/%$16(6 $9( 0$1/8,6 1<

Nspnmqc md ep_lr mp amlrpg`srgml

,1129$7,216 ,1 &1<

Dmslb_rgml qr_rsq md pcagngclr

N_ec //

Gd pcagngclr gq _l glbgtgbs_j* qfmu _lw pcj_rgmlqfgn rm _lw dmslb_rgml k_l_ecp mp qs`qr_lrg_j amlrpg`srmp

00+16.2176

0$',621 &2817< +($/7+ '(3$570(17 32 %2; :$0369,//( 1<

L_kc _lb _bbpcqq &fmkc mp `sqglcqq'

1_ Ep_lrq _lb Amlrpg`srgmlq N_gb Bspgle rfc Wc_p Pcagngclr

N_pr VT

Dmpk 77.+ND

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI Qsnnjckclr_pw Gldmpk_rgml &amlrglscb'

38%/,& 32/,&< )(//2: 1< )81'(5 6 $//,$1&(

2/067($' &(17(5 )25 6,*+7 &20081,7< ,1)250$7,21 (;&+$1*( 6800,7

2121'$*$ &2817< (027,21$/ 2875($&+ &$03$,*1

1< )81'(56 $//,$1&( 7+( &(175$/ 1(: <25. 3+,/$17+523< &(17(5 ( )$<(77( 675((7 6<5$&86( 1<

2/067(' &(17(5 )25 6,*+7 0$,1 675((7 %8))$/2 1<

21(,'$ &2817< +$%,7$7 )25 +80$1,7< '%$ 5(%8,/',1* &1< 0217*20(5< 675((7 7+ )/225 6<5$&86( 1<

21(,'$ &2817< +$%,7$7 )25 +80$1,7< '%$ 5(%8,/',1* &1< )5(1&+ 52$' 87,&$ 1<

.0142/ .2+./+0.

Rmr_j dpmk amlrgls_rgml qfccrq }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

$*,1* %< '(6,*1

0(0%(56+,3

1< )81'(56 $//,$1&( 7+( &(175$/ 1(: <25. 3+,/$17+523< &(17(5 ( )$<(77( 675((7 6<5$&86( 1<

&$7&+$),5( 63216256+,3 1< )81'(56 $//,$1&(

?kmslr

1< )81'(56 $//,$1&( 7+( &(175$/ 1(: <25. 3+,/$17+523< &(17(5 ( )$<(77( 675((7 6<5$&86( 1<

Nspnmqc md ep_lr mp amlrpg`srgml

1<)$ 352*5$0 2)),&(5 21( '$< :25.6+23

Dmslb_rgml qr_rsq md pcagngclr

N_ec //

Gd pcagngclr gq _l glbgtgbs_j* qfmu _lw pcj_rgmlqfgn rm _lw dmslb_rgml k_l_ecp mp qs`qr_lrg_j amlrpg`srmp

00+16.2176

1< )81'(56 $//,$1&( 7+( &(175$/ 1(: <25. 3+,/$17+523< &(17(5 ( )$<(77( 675((7 6<5$&86( 1<

L_kc _lb _bbpcqq &fmkc mp `sqglcqq'

1_ Ep_lrq _lb Amlrpg`srgmlq N_gb Bspgle rfc Wc_p Pcagngclr

N_pr VT

Dmpk 77.+ND

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI Qsnnjckclr_pw Gldmpk_rgml &amlrglscb'

&2//$%25$7,21 6833257 )25 /,9( :(// :1<

'(, $'9$1&(0(17 )81'

/,6& $0(5,&253

3 &2//$%25$7,9( 2) :(67(51 1(: <25. ,1& +$5/(0 52$' %/'* & 1' )/225 :(67 6(1(&$ 1<

.0142/ .2+./+0.

Rmr_j dpmk amlrgls_rgml qfccrq }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

%8))$/2 &(17(5 )25 +($/7+ (48,57

)$1

3 &2//$%25$7,9( 2) :(67(51 1(: <25. ,1& +$5/(0 52$' %/'* & 1' )/225 :(67 6(1(&$ 1<

%522.'$/( )281'$7,21 &$5(*,9(5 ,1,7,$7,9(

?kmslr

3 ( $ & ( ,1& 3(23/( 6 (48$/ $&7,21 &20081,7< ())257 6287+ 6$/,1$ 675((7 1' )/225 6<5$&86( 1<

Nspnmqc md ep_lr mp amlrpg`srgml

%522.'$/( )281'$7,21 &$5(*,9(5 ,1,7,$7,9(

Dmslb_rgml qr_rsq md pcagngclr

N_ec //

Gd pcagngclr gq _l glbgtgbs_j* qfmu _lw pcj_rgmlqfgn rm _lw dmslb_rgml k_l_ecp mp qs`qr_lrg_j amlrpg`srmp

00+16.2176

2121'$*$ &2817< '(3$570(17 2) $*,1* $1' <287+ 6287+ 6$/,1$ 675((7 1' )/225 6<5$&86( 1<

L_kc _lb _bbpcqq &fmkc mp `sqglcqq'

1_ Ep_lrq _lb Amlrpg`srgmlq N_gb Bspgle rfc Wc_p Pcagngclr

N_pr VT

Dmpk 77.+ND

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI Qsnnjckclr_pw Gldmpk_rgml &amlrglscb'

0(0%(56+,3

%8,/',1* 285 $'92&$&< +($/7+ )25 $//

81,9(56$/ +($/7+ &$5( $'92&$&<

3($. *5$170$.,1* . 675((7 :$6+,1*721 '&

3+<6,&,$16 )25 $ 1$7,21$/ +($/7+ 352*5$0 1< 0(752 &+$37(5 , : 5' 675((7 7+ )/225 1(: <25. 1<

5(6($5&+ )281'$7,21 )25 681< 7+( 67$7( 81,9(56,7< 2) 1(: <25. 32 %2; $/%$1< 1<

.0142/ .2+./+0.

Rmr_j dpmk amlrgls_rgml qfccrq }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

029(56 $1' 0$.(56

3$5.:$< &(17(5 3$5.,1621 6 6833257 6(59,&(6

3$5.:$< 6(1,25 &(17(5 0(025,$/ 3$5.:$< 87,&$ 1<

3$571(56+,36 +($/7+< &20081,7,(6 3+$6(

?kmslr

3$5.:$< 6(1,25 &(17(5 0(025,$/ 3$5.:$< 87,&$ 1<

Nspnmqc md ep_lr mp amlrpg`srgml

$*,1* %< '(6,*1

Dmslb_rgml qr_rsq md pcagngclr

N_ec //

Gd pcagngclr gq _l glbgtgbs_j* qfmu _lw pcj_rgmlqfgn rm _lw dmslb_rgml k_l_ecp mp qs`qr_lrg_j amlrpg`srmp

00+16.2176

3$5.:$< 6(1,25 &(17(5 0(025,$/ 3$5.:$< 87,&$ 1<

L_kc _lb _bbpcqq &fmkc mp `sqglcqq'

1_ Ep_lrq _lb Amlrpg`srgmlq N_gb Bspgle rfc Wc_p Pcagngclr

N_pr VT

Dmpk 77.+ND

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI Qsnnjckclr_pw Gldmpk_rgml &amlrglscb'

6$< <(6 +($/7+ +20( &$5( &225',1$7256

6&+8</(5 &(17(5 0$7(51$/ '(35(66,21

$%/( ($5/< &+,/'+22'

6$< <(6 %8))$/2 6&+2/$56+,3 ,1& 0$,1 675((7 %8))$/2 1<

6&+8</(5 &(17(5 )25 $1$/<6,6 $1' $'92&$&< ,1& 67$7( 675((7 7+ )/225 $/%$1< 1<

6(59,&( &2//$%25$7,21 (/0 675((7 %8))$/2 1<

6(9(1 9$//(<6 +($/7+ &2$/,7,21 ,1& .(11('< 3$5.:$< &257/$1' 1<

.0142/ .2+./+0.

Rmr_j dpmk amlrgls_rgml qfccrq }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

&257/$1' )22' 5(6&8( 352-(&7

)$//6 35(9(17,21 1(;7 67(36 &21&(37 '(9(/230(17

5(6($5&+ )281'$7,21 )25 681< &52)76 +$//6 %8))$/2 1<

3$571(56+,36 +($/7+< &20081,7,(6 3+$6(

?kmslr

5(6($5&+ )281'$7,21 )25 681< &52)76 +$//6 %8))$/2 1<

Nspnmqc md ep_lr mp amlrpg`srgml

&+,/'5(1 )$0,/,(6 75$80$ %8,/',1* 5(6,/,(1&< 3+$6( ,

Dmslb_rgml qr_rsq md pcagngclr

N_ec //

Gd pcagngclr gq _l glbgtgbs_j* qfmu _lw pcj_rgmlqfgn rm _lw dmslb_rgml k_l_ecp mp qs`qr_lrg_j amlrpg`srmp

00+16.2176

5(6($5&+ )281'$7,21 )25 681< &52)76 +$//6 %8))$/2 1<

L_kc _lb _bbpcqq &fmkc mp `sqglcqq'

1_ Ep_lrq _lb Amlrpg`srgmlq N_gb Bspgle rfc Wc_p Pcagngclr

N_pr VT

Dmpk 77.+ND

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI Qsnnjckclr_pw Gldmpk_rgml &amlrglscb'

67 /8.( 6 +($/7+ 6(59,&(6 33( 385&+$6(

$*,1* ,1 3/$&( :,7+ $,

($5/< ,'(17,),&$7,21 2) &2*1,7,9( ,03$,50(17

67 /8.( +($/7+ 6(59,&(6 ($67 5,9(5 52$' 26:(*2 1<

6816(7 +20( 2) 87,&$ '%$ 7+( &20081,7< $7 6816(7 :22' *(1(6(( 675((7 1(: +$57)25' 1<

6<5$&86( &20081,7< &211(&7,21 6287+ $9(18( 6<5$&86( 1<

6<5$&86( +286,1* $87+25,7< %857 675((7 6<5$&86( 1<

.0142/ .2+./+0.

Rmr_j dpmk amlrgls_rgml qfccrq }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

&/($1,1* 83 72 23(1 '2256

6$)( .,'6 6287+(51 7,(5 1(: <25. &2$/,7,21

6287+(51 7,(5 +($/7+ &$5( 6<67(0 ,1& 21( %/8( %,5' 648$5( 2/($1 1<

&2//$%25$7,9( ,17(56(&7,21$/ &2//(&7,9( $//,$1&( )25 %(77(5 6(1,25 &$5( ,1 7+( &,7< 2) %8))$/2

?kmslr

6287+ %8))$/2 &20081,7< $662&,$7,21 &$=(129,$ 675((7 %8))$/2 1<

Nspnmqc md ep_lr mp amlrpg`srgml

61$3&$3 ,3$ 3+$6( ,,

Dmslb_rgml qr_rsq md pcagngclr

N_ec //

Gd pcagngclr gq _l glbgtgbs_j* qfmu _lw pcj_rgmlqfgn rm _lw dmslb_rgml k_l_ecp mp qs`qr_lrg_j amlrpg`srmp

00+16.2176

61$3&$3 ,1& (//,&277 675((7 %8))$/2 1<

L_kc _lb _bbpcqq &fmkc mp `sqglcqq'

1_ Ep_lrq _lb Amlrpg`srgmlq N_gb Bspgle rfc Wc_p Pcagngclr

N_pr VT

Dmpk 77.+ND

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI Qsnnjckclr_pw Gldmpk_rgml &amlrglscb'

&$// 72 $&7,21 352-(&7 6(&85(

%522.'$/( )281'$7,21 &$5(*,9(5 ,1,7,$7,9(

6<5$&86( &20081,7< &(17(5 &2//$%25$7,9( &/($1,1*6

&29,' 67,3(1'

6<5$&86( -(:,6+ )$0,/< 6(59,&( $7 0(125$+ 3$5. ($67 *(1(6(( 675((7 6<5$&86( 1<

6<5$&86( 1257+($67 &20081,7< &(17(5 ,1& +$/:/(< $9( 6<5$&86( 1<

6<5$&86( 1257+($67 &20081,7< &(17(5 ,1& +$: 6<5$&86( 1<

6<5$&86( 81,9(56,7< 0$;:(// ;/$% /<0$1 +$// 6<5$&86( 1<

.0142/ .2+./+0.

Rmr_j dpmk amlrgls_rgml qfccrq }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

&+,/'5(1 )$0,/,(6 75$80$ %8,/',1* 5(6,/,(1&< 3+$6( ,

)(//2:6 &$// 72 $&7,21

6<5$&86( -(:,6+ )$0,/< 6(59,&( $7 0(125$+ 3$5. ($67 *(1(6(( 675((7 6<5$&86( 1<

Nspnmqc md ep_lr mp amlrpg`srgml

6<5$&86( -(:,6+ )$0,/< 6(59,&(6 0,1' $(52%,&6

Dmslb_rgml qr_rsq md pcagngclr

Gd pcagngclr gq _l glbgtgbs_j* qfmu _lw pcj_rgmlqfgn rm _lw dmslb_rgml k_l_ecp mp qs`qr_lrg_j amlrpg`srmp

00+16.2176

6<5$&86( -(:,6+ )$0,/< 6(59,&( $7 0(125$+ 3$5. ($67 *(1(6(( 675((7 6<5$&86( 1<

L_kc _lb _bbpcqq &fmkc mp `sqglcqq'

1_ Ep_lrq _lb Amlrpg`srgmlq N_gb Bspgle rfc Wc_p Pcagngclr

N_pr VT

Dmpk 77.+ND

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI Qsnnjckclr_pw Gldmpk_rgml &amlrglscb'

?kmslr

N_ec //

&20081,7,(6 &$5( :1< 5(63,7( 3,/27

&1<&) 5$3,' 5(63216( )81'

:1< ,17(*5$7(' &$5( &2//$%25$7,9(

73, & 2 %26721 )281'$7,21 ,1& $5/,1*721 675((7 5' )/225 %26721 1<

81,7(' :$< )25 &257/$1' &2817< ,1& &/,1721 $9( &257/$1' 1<

81,7(' :$< 2) %8))$/2 $1' (5,( &2817< '(/$:$5( $9(18( %8))$/2 1<

.0142/ .2+./+0.

Rmr_j dpmk amlrgls_rgml qfccrq }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

&+,/'5(1 )$0,/,(6 75$80$ %8,/',1* 5(6,/,(1&< 3+$6( ,

3$571(56+,36 +($/7+< &20081,7,(6 3+$6(

7203.,16 &2817< 2)),&( )25 7+( $*,1* 1257+ 7,2*$ 675((7 ,7+$&$ 1<

$%/( ($5/< &+,/'+22' 352*5$0

?kmslr

7+( 6(59,&( &2//$%25$7,9( 2) :1< ,1& (/0 675((7 %8))$/2 1<

Nspnmqc md ep_lr mp amlrpg`srgml

029(56 $1' 0$.(56

Dmslb_rgml qr_rsq md pcagngclr

N_ec //

Gd pcagngclr gq _l glbgtgbs_j* qfmu _lw pcj_rgmlqfgn rm _lw dmslb_rgml k_l_ecp mp qs`qr_lrg_j amlrpg`srmp

00+16.2176

7+( 5(6($5&+ )281'$7,21 7+( 67$7( 81,9(56,7< 2) 1(: <25. 32 %2; $/%$1< 1<

L_kc _lb _bbpcqq &fmkc mp `sqglcqq'

1_ Ep_lrq _lb Amlrpg`srgmlq N_gb Bspgle rfc Wc_p Pcagngclr

N_pr VT

Dmpk 77.+ND

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI Qsnnjckclr_pw Gldmpk_rgml &amlrglscb'

&1<&) 5$3,' 5(63216( )81'

%8,/',1* (9,'(1&( )25 5(63,7( &$5(

029,1* )25:$5' 72*(7+(5 ,1,7,$7,9(

*297

81,7(' :$< 2) 7+( 9$//(< $1' *5($7(5 87,&$ $5($ /$)$<(77( 675((7 12 87,&$ 1<

81,9(56,7< 2) *(25*,$ 5(6($5&+ )281'$7,21 ,1& ($67 &$0386 52$' $7+(16 *$

9(7(5$16 21( 6723 &(17(5 2) :1< ,1& 0$,1 675((7 68,7( %8))$/2 1<

9,6,7,1* 1856( 6(59,&( 2) ,7+$&$ 7203.,16 &2817< ,1& 9(5$ &,5&/( ,7+$&$ 1<

.0142/ .2+./+0.

Rmr_j dpmk amlrgls_rgml qfccrq }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

)(//2:6 &$// 72 $&7,21

&+,/'5(1 )$0,/,(6 75$80$ %8,/',1* 5(6,/,(1&< 3+$6( ,

81,7(' :$< 2) &(175$/ 1(: <25. ,1& -$0(6 675((7 68,7( 6<5$&86( 1<

+(/3 0( *52: 2121'$*$ 3+$6( ,,

?kmslr

81,7(' :$< 2) &(175$/ 1(: <25. ,1& -$0(6 675((7 68,7( 6<5$&86( 1<

Nspnmqc md ep_lr mp amlrpg`srgml

+(/3 0( *52: &1<

Dmslb_rgml qr_rsq md pcagngclr

N_ec //

Gd pcagngclr gq _l glbgtgbs_j* qfmu _lw pcj_rgmlqfgn rm _lw dmslb_rgml k_l_ecp mp qs`qr_lrg_j amlrpg`srmp

00+16.2176

81,7(' :$< 2) &(175$/ 1(: <25. ,1& -$0(6 675((7 68,7( 6<5$&86( 1<

L_kc _lb _bbpcqq &fmkc mp `sqglcqq'

1_ Ep_lrq _lb Amlrpg`srgmlq N_gb Bspgle rfc Wc_p Pcagngclr

N_pr VT

Dmpk 77.+ND

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI Qsnnjckclr_pw Gldmpk_rgml &amlrglscb'

:%)2 2/'(5 $'8/7 1(:6 '(6.

<0&$ (5,( 1,$*$5$ ($5/< /($51,1* 5($',1(66

%522.'$/( )281'$7,21 &$5(*,9(5 ,1,7,$7,9(

:(67(51 1(: <25. 38%/,& %52$'&$67,1* $662&,$7,21 /2:(5 7(55$&( 675((7 %8))$/2 1<

<0&$ %8))$/2 1,$*$5$ &$<8*$ 52$' %8))$/2 1<

<0&$ 2) 7+( 7:,1 7,(56 5((' 675((7 2/($1 1<

.0142/ .2+./+0.

Rmr_j dpmk amlrgls_rgml qfccrq }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

&20081,7< &$3$&,7< 72 $''5(66 '(35(66,21 &21&(37 (;3/25$7,21

:(67(51 1(: <25. ,17(*5$7(' &$5( &2//$%25$7,9( ,1& '(/$:$5( $9(18( %8))$/2 1<

Nspnmqc md ep_lr mp amlrpg`srgml

&$// 72 $&7,21 +($/7+ /,7(5$&<

Dmslb_rgml qr_rsq md pcagngclr

Gd pcagngclr gq _l glbgtgbs_j* qfmu _lw pcj_rgmlqfgn rm _lw dmslb_rgml k_l_ecp mp qs`qr_lrg_j amlrpg`srmp

00+16.2176

9,6,7,1* 1856( 6(59,&( 2) ,7+$&$ 7203.,16 &2817< ,1& 9(5$ &,5&/( ,7+$&$ 1<

L_kc _lb _bbpcqq &fmkc mp `sqglcqq'

1_ Ep_lrq _lb Amlrpg`srgmlq N_gb Bspgle rfc Wc_p Pcagngclr

N_pr VT

Dmpk 77.+ND

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI Qsnnjckclr_pw Gldmpk_rgml &amlrglscb'

?kmslr

N_ec //

Dmpk

000.

Bcn_prkclr md rfc Rpc_qspw Glrcpl_j Pctclsc Qcptgac

L_kc

Slbcpn_wkclr md Cqrgk_rcb R_v `w Ampnmp_rgmlq

MK@ Lm, /323+./01

DMPK 77.+ND

0.0.

z ?rr_af rm rfc ampnmp_rgml%q r_v pcrspl, z Em rm uuu,gpq,emt-Dmpk000. dmp glqrpsargmlq _lb rfc j_rcqr gldmpk_rgml,

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI

Cknjmwcp gbclrgdga_rgml lsk`cp

00+16.2176

Lmrc8 Eclcp_jjw* rfc ampnmp_rgml gq lmr pcosgpcb rm dgjc Dmpk 000. &qcc N_pr GG `cjmu dmp cvacnrgmlq' `ca_sqc rfc GPQ ugjj dgespc _lw ncl_jrw mucb _lb `gjj rfc ampnmp_rgml, Fmuctcp* rfc ampnmp_rgml k_w qrgjj sqc Dmpk 000. rm dgespc rfc ncl_jrw, Gd qm* clrcp rfc _kmslr dpmk n_ec 0* jglc 16* ml rfc cqrgk_rcb r_v ncl_jrw jglc md rfc ampnmp_rgml%q glamkc r_v pcrspl* `sr bm lmr _rr_af Dmpk 000.,

N_pr G

Pcosgpcb ?lls_j N_wkclr

/ Rmr_j r_v &qcc glqrpsargmlq' |||||||||||||||||||||||||||||||||||||||||||||| 0 _ Ncpqml_j fmjbgle amkn_lw r_v &Qafcbsjc NF &Dmpk //0.'* jglc 04' glajsbcb ml jglc / |||||| ` Jmmi+`_ai glrcpcqr glajsbcb ml jglc / slbcp qcargml 24.&`'&0' dmp amknjcrcb jmle+rcpk

amlrp_arq mp qcargml /45&e' dmp bcnpcag_rgml slbcp rfc glamkc dmpca_qr kcrfmb |||||||||

/.4*74/,

0a a Apcbgr dmp dcbcp_j r_v n_gb ml dscjq &qcc glqrpsargmlq' ||||||||||||||||||||| b Rmr_j, ?bb jglcq 0_ rfpmsef 0a ||||||||||||||||||||||||||||||||||||||||||||

1 Qs`rp_ar jglc 0b dpmk jglc /, Gd rfc pcqsjr gq jcqq rf_l "3..* bm lmr amknjcrc mp dgjc rfgq dmpk, Rfc ampnmp_rgml bmcq lmr muc rfc ncl_jrw ||||||||||||||||||||||||||||||||||||||||||||||

/.4*74/,

2 Clrcp rfc r_v qfmul ml rfc ampnmp_rgml%q 0./7 glamkc r_v pcrspl, Qcc glqrpsargmlq, A_srgml8 Gd rfc r_v gq xcpm mp rfc r_v wc_p u_q dmp jcqq rf_l /0 kmlrfq* qign rfgq jglc _lb clrcp rfc _kmslr dpmk jglc 1 ml jglc 3 ||||||||||||||

//1*6.5,

3 Pcosgpcb _lls_j n_wkclr, Clrcp rfc qk_jjcp md jglc 1 mp jglc 2, Gd rfc ampnmp_rgml gq pcosgpcb rm qign jglc 2* clrcp rfc _kmslr dpmk jglc 1 }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}} 3 N_pr GG Pc_qmlq dmp Dgjgle + Afcai rfc `mvcq `cjmu rf_r _nnjw, Gd _lw `mvcq _pc afcaicb* rfc ampnmp_rgml ksqr dgjc Dmpk 000. ctcl gd gr bmcq lmr muc _ ncl_jrw, Qcc glqrpsargmlq,

/.4*74/,

Rfc ampnmp_rgml gq sqgle rfc _bhsqrcb qc_qml_j glqr_jjkclr kcrfmb, V Rfc ampnmp_rgml gq sqgle rfc _lls_jgxcb glamkc glqr_jjkclr kcrfmb, V Rfc ampnmp_rgml gq _ j_pec ampnmp_rgml dgespgle grq dgpqr pcosgpcb glqr_jjkclr `_qcb ml rfc npgmp wc_p%q r_v, 6 N_pr GGG Dgespgle rfc Slbcpn_wkclr 4 5

7 Glqr_jjkclr bsc b_rcq, Clrcp gl amjsklq &_' rfpmsef &b' rfc /3rf b_w md rfc 2rf & Dmpk 77.+ND dgjcpq8 Sqc 3rf kmlrf'* 4rf* 7rf* _lb /0rf kmlrfq md rfc ampnmp_rgml%q r_v wc_p, Dgjcpq ugrf glqr_jjkclrq bsc ml mp _drcp ?npgj /* 0.0.* _lb `cdmpc Hsjw /3* 0.0.* qcc glqrpsargmlq ||||||||

&_'

&`'

&a'

&b'

.5-/3-0.

.7-/3-0.

/0-/3-0.

/. Pcosgpcb glqr_jjkclrq, Gd rfc `mv ml jglc 4 _lb-mp jglc 5 _`mtc gq afcaicb* clrcp rfc _kmslrq dpmk Qaf ?* jglc 16, Gd rfc `mv ml jglc 6 &`sr lmr 4 mp 5' gq afcaicb* qcc glqrpsargmlq dmp rfc _kmslrq rm clrcp, Gd lmlc md rfcqc `mvcq _pc afcaicb* clrcp 03# &.,03' md jglc 3 _`mtc gl c_af amjskl ||||

/*.25,

20*372,

/4*/06,

// Cqrgk_rcb r_v n_gb mp apcbgrcb dmp c_af ncpgmb, Dmp amjskl &_' mljw* clrcp rfc _kmslr dpmk jglc // ml jglc /3, Qcc glqrpsargmlq ||||||||||||||||||

62*...,

Amknjcrc jglcq /0 rfpmsef /6 md mlc amjskl `cdmpc emgle rm rfc lcvr amjskl, /0 Clrcp _kmslr* gd _lw* dpmk jglc /6 md rfc npcacbgle amjskl

/1 ?bb jglcq // _lb /0 |||||||||||||||||

/2 ?bb _kmslrq ml jglcq /4 _lb /5 md rfc npcacbgle amjskl

/3 Qs`rp_ar jglc /2 dpmk jglc /1, Gd xcpm mp jcqq* clrcp +.+ ||

/4 Gd rfc _kmslr ml jglc /3 gq xcpm* qs`rp_ar jglc /1 dpmk jglc /2, Mrfcpugqc* clrcp +.+ |||||||||||||||

amjskl, Mrfcpugqc* em rm jglc /6 |||||||||||

62*..., 62*...,

/*.25,

/5 Slbcpn_wkclr, Gd jglc /3 gq jcqq rf_l mp cos_j rm jglc /.* qs`rp_ar jglc /3 dpmk jglc /., Rfcl em rm jglc /0 md rfc lcvr

/*.25, .,

/*.25,

20*372,

/6 Mtcpn_wkclr, Gd jglc /. gq jcqq rf_l jglc /3* qs`rp_ar jglc /. dpmk jglc /3, Rfcl em rm jglc /0 md rfc lcvr amjskl }}} /6 Em rm N_pr GT ml n_ec 0 rm dgespc rfc ncl_jrw, Bm lmr em rm N_pr GT gd rfcpc _pc lm clrpgcq ml jglc /5 + lm ncl_jrw gq mucb, JF?

Dmp N_ncpumpi Pcbsargml ?ar Lmrgac* qcc qcn_p_rc glqrpsargmlq,

./06./ .0+.0+0/

Dmpk 000. &0.0.'

13 /414///3 5616/4 U..363..,. 0.0.,.3... FC?JRF DMSLB?RGML DMP UCQ U..363./

DMPK 77.+ND Dmpk 000. &0.0.'

N_pr GT

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI

N_ec

Dgespgle rfc Ncl_jrw &_'

/7 Clrcp rfc b_rc md n_wkclr mp rfc /3rf b_w md rfc 2rf kmlrf _drcp rfc ajmqc md rfc r_v wc_p* ufgafctcp gq c_pjgcp, &A ampnmp_rgmlq ugrf r_v wc_pq clbgle Hslc 1. _lb Q ampnmp_rgmlq8 Sqc 1pb kmlrf glqrc_b md 2rf kmlrf, Dmpk 77.+ND _lb Dmpk 77.+R dgjcpq8 Sqc 3rf kmlrf glqrc_b md 2rf kmlrf,' Qcc glqrpsargmlq |||||||| 0.

00+16.2176

&`'

&a'

&b'

Lsk`cp md b_wq dpmk bsc b_rc md glqr_jjkclr ml jglc 7 rm rfc b_rc qfmul ml jglc /7

|||||||||||||||||

Lsk`cp md b_wq ml jglc 0. _drcp 2-/3-0.0. _lb `cdmpc 5-/-0.0.

Slbcpn_wkclr ml jglc /5 v Lsk`cp md b_wq ml jglc 0/ v 3# &.,.3' 144

00 "

Lsk`cp md b_wq ml jglc 0. _drcp 4-1.-0.0. _lb `cdmpc /.-/-0.0.

Slbcpn_wkclr ml jglc /5 v Lsk`cp md b_wq ml jglc 01 v 1# &.,.1' 144

02 "

Lsk`cp md b_wq ml jglc 0. _drcp 7-1.-0.0. _lb `cdmpc /-/-0.0/

Slbcpn_wkclr ml jglc /5 v Lsk`cp md b_wq ml jglc 03 v 1# &.,.1' 144

04 "

Lsk`cp md b_wq ml jglc 0. _drcp /0-1/-0.0. _lb `cdmpc 2-/-0.0/

Slbcpn_wkclr ml jglc /5 v Lsk`cp md b_wq ml jglc 05 v 1# &.,.1' 143

06 "

Lsk`cp md b_wq ml jglc 0. _drcp 1-1/-0.0/ _lb `cdmpc 5-/-0.0/

Slbcpn_wkclr ml jglc /5 v Lsk`cp md b_wq ml jglc 07 v (# 143

Lsk`cp md b_wq ml jglc 0. _drcp 4-1.-0.0/ _lb `cdmpc /.-/-0.0/

Slbcpn_wkclr ml jglc /5 v Lsk`cp md b_wq ml jglc 1/ v (# 143

Lsk`cp md b_wq ml jglc 0. _drcp 7-1.-0.0/ _lb `cdmpc /-/-0.00

Slbcpn_wkclr ml jglc /5 v Lsk`cp md b_wq ml jglc 11 v (# 143

Lsk`cp md b_wq ml jglc 0. _drcp /0-1/-0.0/ _lb `cdmpc 1-/4-0.00

Slbcpn_wkclr ml jglc /5 v Lsk`cp md b_wq ml jglc 13 v (# 143

?bb jglcq 00* 02* 04* 06* 1.* 10* 12* _lb 14

|| ||| |

||| || ||| |

QCC ?RR?AFCB UMPIQFCCR "

07 1. " 1/ 10 " 11 12 " 13

|||

14 "

|||||||||

15 "

16 Ncl_jrw, ?bb amjsklq &_' rfpmsef &b' md jglc 15, Clrcp rfc rmr_j fcpc _lb ml Dmpk //0.* jglc 129 mp rfc amkn_p_`jc jglc dmp mrfcp glamkc r_v pcrsplq }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

16 "

325,

( Sqc rfc ncl_jrw glrcpcqr p_rc dmp c_af a_jclb_p os_prcp* ufgaf rfc GPQ ugjj bcrcpkglc bspgle rfc dgpqr kmlrf gl rfc npcacbgle os_prcp, Rfcqc p_rcq _pc ns`jgqfcb os_prcpjw gl _l GPQ Lcuq Pcjc_qc _lb gl _ pctclsc psjgle gl rfc Glrcpl_j Pctclsc @sjjcrgl, Rm m`r_gl rfgq gldmpk_rgml ml rfc Glrcplcr* _aacqq rfc GPQ uc`qgrc _r uuu,gpq,emt, Wms a_l _jqm a_jj /+6..+607+2711 rm ecr glrcpcqr p_rc gldmpk_rgml, Dmpk 000. &0.0.'

./06.0 .0+.0+0/

14 /414///3 5616/4 U..363..,. 0.0.,.3... FC?JRF DMSLB?RGML DMP UCQ U..363./

FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J LCU WMPI DMPK 77.+ND Dmpk 000. &0.0.' Qafcbsjc ? ?bhsqrcb Qc_qml_j Glqr_jjkclr Kcrfmb _lb ?lls_jgxcb Glamkc Glqr_jjkclr Kcrfmb

00+16.2176 N_ec 1

Qcc glqrpsargmlq, Dmpk //0.+Q dgjcpq8 @il fch_m +& ,& -& [h^ ,+& n[r[\f_ ch]ig_ l_`_lm ni _r]_mm h_n j[mmcp_ ch]ig_ il nb_ [giohn ih qbc]b n[r cm cgjim_^ oh^_l m_]ncih +-1."[#& qbc]b_p_l [jjfc_m(

N_pr G

?bhsqrcb Qc_qml_j Glqr_jjkclr Kcrfmb A_srgml8 Sqc rfgq kcrfmb mljw gd rfc `_qc ncpgmb ncpaclr_ec dmp _lw 4 amlqcasrgtc kmlrfq gq _r jc_qr 5.#, Qcc glqrpsargmlq,

/ Clrcp r_v_`jc glamkc dmp rfc dmjjmugle ncpgmbq, _ R_v wc_p `cegllgle gl 0./5 ||||||||||||

&_' Dgpqr 1 kmlrfq

&`' Dgpqr 3 kmlrfq

&a' Dgpqr 6 kmlrfq

&b' Dgpqr // kmlrfq

Dgpqr 2 kmlrfq

Dgpqr 4 kmlrfq

Dgpqr 7 kmlrfq

Clrgpc wc_p

` R_v wc_p `cegllgle gl 0./6

||||||||||||

a R_v wc_p `cegllgle gl 0./7

||||||||||||

Clrcp r_v_`jc glamkc dmp c_af ncpgmb dmp rfc r_v wc_p `cegllgle gl 0.0., Qcc rfc glqrpsargmlq dmp rfc rpc_rkclr md cvrp_mpbgl_pw grckq

1 Clrcp r_v_`jc glamkc dmp rfc dmjjmugle ncpgmbq, _ R_v wc_p `cegllgle gl 0./5

||||||||||||

` R_v wc_p `cegllgle gl 0./6

||||||||||||

a R_v wc_p `cegllgle gl 0./7 |||||||||||| 2 Bgtgbc rfc _kmslr gl c_af amjskl ml jglc /_ `w rfc _kmslr gl amjskl &b' ml jglc 1_ ||||||||||

1a 2

3 Bgtgbc rfc _kmslr gl c_af amjskl ml jglc /` `w rfc _kmslr gl amjskl &b' ml jglc 1` ||||||||||

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@cegllgle ?aasksj_rcb Bcnpcag_rgml

Asppclr Qca /57 Cvnclqc

Asppclr Wc_p Bcbsargml

Clbgle ?aasksj_rcb Bcnpcag_rgml

( GRA* Q_jt_ec* @mlsq* Amkkcpag_j Pctgr_jgx_rgml Bcbsargml* EM Xmlc

Qcargml /57 Cvnclqc

(1',1* %22. 9$/8(

@sq # Cvaj

Sl_bhsqrcb Amqr Mp @_qgq

(1',1* $&&80 '(35

(1',1* %$/$1&(

',6326,7,216 5(7,5('

$&48,6,7,216

%(*,11,1* %$/$1&(

&855(17 <($5 $&7,9,7<

727$/ 3) 3* '(35

/$3723 . 2/'(1

021,725 )25 $66(7

Jglc Lm,

+20( :25.67$7,21

A m l t

Jgdc

Kcrfmb

B_rc ?aosgpcb

Bcqapgnrgml

8%,748,7, ('*(6:,7&+ 6/ 86(5 83*5$'( 72 =8/7<6 3+21( 6<67(0 6/

?qqcr Lm,

)250 3) 3$*(

0.0. BCNPCAG?RGML ?LB ?KMPRGX?RGML PCNMPR

Dmpk

Cvcknr Mpe_lgx_rgml @sqglcqq Glamkc R_v Pcrspl

77.+R

Dmp a_jclb_p wc_p 0.0. mp mrfcp r_v wc_p `cegllgle Bcn_prkclr md rfc Rpc_qspw Glrcpl_j Pctclsc Qcptgac

? Afcai `mv gd _bbpcqq af_lecb, @ Cvcknr slbcp qcargml V 3./& '& ' a 1

2.6&c' 00.&c' 2.6? 31.&_' 307&_' 307Q

E F G

* _lb clbgle

L_kc md mpe_lgx_rgml & Afcai `mv gd l_kc af_lecb _lb qcc glqrpsargmlq,' FC?JRF DMSLB?RGML DMP UCQRCPL $ ACLRP?J Npglr LCU WMPI mp Rwnc

C Epmsn cvcknrgml lsk`cp

00+16.2176

Lsk`cp* qrpccr* _lb pmmk mp qsgrc lm, Gd _ N,M, `mv* qcc glqrpsargmlq,

&qcc glqrpsargmlq'

504 CVAF?LEC QR,* LM, 3/6

Agrw mp rmul* qr_rc mp npmtglac* amslrpw* _lb XGN mp dmpcgel nmqr_j ambc

@SDD?JM* LW /20/.

Afcai gd _ 3./&a'&1' mpe_lgx_rgml dgjgle _ amlqmjgb_rcb pcrspl ugrf _ 3./&a'&0' rgrjcfmjbgle ampnmp_rgml

D Afcai `mv gd _l _kclbcb pcrspl, ?nnjga_`jc pcglqsp_lac clrgrw z / V Lm z Wcq

}}}}}}}}}}}}}}}}}}

Clrcp rfc lsk`cp md _rr_afcb Qafcbsjcq ? &Dmpk 77.+R'

Bspgle rfc r_v wc_p* u_q rfc ampnmp_rgml _ qs`qgbg_pw gl _l _ddgjg_rcb epmsn mp _ n_pclr+qs`qgbg_pw amlrpmjjcb epmsn= Gd Wcq* clrcp rfc l_kc _lb gbclrgdwgle lsk`cp md rfc n_pclr ampnmp_rgml, z Rfc `mmiq _pc gl a_pc md z LMP? M@PGCL+QSPGA Rcjcnfmlc lsk`cp z

Mncl rm Ns`jga Glqncargml dmp 3./&a'&1' Mpe_lgx_rgmlq Mljw

BCknjmwcp gbclrgdga_rgml lsk`cp

/14*711*4.0, A @mmi t_jsc md _jj _qqcrq _r clb md wc_p }}}} z V 3./&a' ampnmp_rgml 3./&a' rpsqr 2./&_' rpsqr Afcai mpe_lgx_rgml rwnc z Mrfcp rpsqr z Afcai gd dgjgle mljw rm Aj_gk apcbgr dpmk Dmpk 672/ Aj_gk _ pcdslb qfmul ml Dmpk 0217

N_pr G

0.0.

z Em rm uuu,gpq,emt-Dmpk77.R dmp glqrpsargmlq _lb rfc j_rcqr gldmpk_rgml, z Bm lmr clrcp QQL lsk`cpq ml rfgq dmpk _q gr k_w `c k_bc ns`jga gd wmsp mpe_lgx_rgml gq _ 3./&a'&1',

MK@ Lm, /323+..25

&_lb npmvw r_v slbcp qcargml 4.11&c''

}}}}}}}}}}}}}}}}}}}}}}}}}}

5/4+630+1.1.

Rmr_j Slpcj_rcb @sqglcqq R_v_`jc Glamkc

Rmr_j md slpcj_rcb `sqglcqq r_v_`jc glamkc amknsrcb dpmk _jj slpcj_rcb rp_bcq mp `sqglcqqcq &qcc glqrpsargmlq' ||||||||||||||||||||||||||||||||||||||||||||||||||

Pcqcptcb

?bb jglcq / _lb 0

Af_pgr_`jc amlrpg`srgmlq &qcc glqrpsargmlq dmp jgkgr_rgml psjcq'

||||||||||||||||||||||||||

Rmr_j slpcj_rcb `sqglcqq r_v_`jc glamkc `cdmpc lcr mncp_rgle jmqqcq, Qs`rp_ar jglc 2 dpmk jglc 1 |||||||||

Bcbsargml dmp lcr mncp_rgle jmqq, Qcc glqrpsargmlq

Rmr_j md slpcj_rcb `sqglcqq r_v_`jc glamkc `cdmpc qncagdga bcbsargml _lb qcargml /77? bcbsargml,

||||||||||||||||||||||||||||||||||||||||||||||||||| |||||||||||||||||||||||||||||||||||||||||||||||

Qs`rp_ar jglc 4 dpmk jglc 3

|||||||||||||||||||||||||||||||

+04*757, +04*757, ., +04*757, ., +04*757, /*...,

|||||||||||||||||||||||||||||||||||||||||||

Qncagdga bcbsargml &eclcp_jjw "/*...* `sr qcc glqrpsargmlq dmp cvacnrgmlq' ||||||||||||||||||||

Rpsqrq, Qcargml /77? bcbsargml, Qcc glqrpsargmlq ||||||||||||||||||||||||||||||| Rmr_j bcbsargmlq, ?bb jglcq 6 _lb 7 ||||||||||||||||||||||||||||||||||||||

/*...,

Slpcj_rcb `sqglcqq r_v_`jc glamkc, Qs`rp_ar jglc /. dpmk jglc 5, Gd jglc /. gq epc_rcp rf_l jglc 5* clrcp xcpm }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

Mpe_lgx_rgmlq r_v_`jc _q ampnmp_rgmlq, Ksjrgnjw N_pr G* jglc // `w 0/# &.,0/' ||||||||||||||||| z Rpsqrq r_v_`jc _r rpsqr p_rcq, Qcc glqrpsargmlq dmp r_v amknsr_rgml, Glamkc r_v ml rfc _kmslr ml

/. //

N_pr GG / 0

R_v Amknsr_rgml

Qafcbsjc B &Dmpk /.2/' |||||||||||||| z

0 1

Npmvw r_v, Qcc glqrpsargmlq ||||||||||||||||||||||||||||||||||||||||| z Mrfcp r_v _kmslrq, Qcc glqrpsargmlq ||||||||||||||||||||||||||||||||||||||

?jrcpl_rgtc kglgksk r_v &rpsqrq mljw' ||||||||||||||||||||||||||||||||||||||

R_v ml lmlamknjg_lr d_agjgrw glamkc, Qcc glqrpsargmlq |||||||||||||||||||||||||||| Rmr_j, ?bb jglcq 1 rfpmsef 4 rm jglc / mp 0* ufgafctcp _nnjgcq }}}}}}}}}}}}}}}}}}}}}}}}}}

N_pr G* jglc // dpmk8 1

JF?

R_v p_rc qafcbsjc mp

Dmp N_ncpumpi Pcbsargml ?ar Lmrgac* qcc glqrpsargmlq,

.015./ .0+.0+0/

., 77.+R Dmpk &0.0.'

35 /414///3 5616/4 U..363..,. 0.0.,.3... FC?JRF DMSLB?RGML DMP UCQ U..363./

Dmpk 77.+R &0.0.'

N_ec 0

R_v _lb N_wkclrq

N_pr GGG

Dmpcgel r_v apcbgr &ampnmp_rgmlq _rr_af Dmpk ///69 rpsqrq _rr_af Dmpk ///4' |||| Mrfcp apcbgrq &qcc glqrpsargmlq' ||||||||||||||||||||||||||

` a

Eclcp_j `sqglcqq apcbgr, ?rr_af Dmpk 16.. &qcc glqrpsargmlq'

||||||||||| Apcbgr dmp npgmp wc_p kglgksk r_v &_rr_af Dmpk 66./ mp 6605' |||||||||||

/` /b

Rmr_j apcbgrq, ?bb jglcq /_ rfpmsef /b |||||||||||||||||||||||||||||||||||| Qs`rp_ar jglc /c dpmk N_pr GG* jglc 5 ||||||||||||||||||||||||||||||||||||||

Mrfcp r_vcq, Afcai gd dpmk8

Mrfcp &_rr_af qr_rckclr' |||||||||||||||||||||||| Rmr_j r_v, ?bb jglcq 0 _lb 1 &qcc glqrpsargmlq', Afcai gd glajsbcq r_v npctgmsqjw bcdcppcb slbcp

0.0. lcr 743 r_v jg_`gjgrw n_gb dpmk Dmpk 743+? mp Dmpk 743+@* N_pr GG* amjskl &i'* jglc 2 ||||||||||||

., .,

N_wkclrq8 ? 0./7 mtcpn_wkclr apcbgrcb rm 0.0. |||||||||||||||||

3*...,

Dmpk 2033

Dmpk 64//

Dmpk 6475

Dmpk 6644

qcargml /072, Clrcp r_v _kmslr fcpc ||||||||||||||||||||||| z

0.0. cqrgk_rcb r_v n_wkclrq, Afcai gd qcargml 421&e' cjcargml _nnjgcq

R_v bcnmqgrcb ugrf Dmpk 6646 |||||||||||||||||||||||||| Dmpcgel mpe_lgx_rgmlq8 R_v n_gb mp ugrffcjb _r qmspac &qcc glqrpsargmlq' ||||||

4a 4c

@_aisn ugrffmjbgle &qcc glqrpsargmlq' ||||||||||||||||||||||| Apcbgr dmp qk_jj cknjmwcp fc_jrf glqsp_lac npckgskq &_rr_af Dmpk 672/' |||||

Mrfcp apcbgrq* _bhsqrkclrq* _lb n_wkclrq8

b c

Dmpk 2/14

|| z

Dmpk 0217 Mrfcp

Rmr_j z

3*...,

4` 4b 4d 4e

Rmr_j n_wkclrq, ?bb jglcq 4_ rfpmsef 4e ||||||||||||||||||||||||||||||||||| Cqrgk_rcb r_v ncl_jrw &qcc glqrpsargmlq', Afcai gd Dmpk 000. gq _rr_afcb ||||||||||||||| z

5 6

R_v bsc, Gd jglc 5 gq qk_jjcp rf_l rfc rmr_j md jglcq 2* 3* _lb 6* clrcp _kmslr mucb ||||||||||||| z Mtcpn_wkclr, Gd jglc 5 gq j_pecp rf_l rfc rmr_j md jglcq 2* 3* _lb 6* clrcp _kmslr mtcpn_gb |||||||||| z /. 3*..., Pcdslbcb z Clrcp rfc _kmslr md jglc /. wms u_lr8 Apcbgrcb rm 0.0/ cqrgk_rcb r_v z // N_pr GT Qr_rckclrq Pce_pbgle Acpr_gl ?argtgrgcq _lb Mrfcp Gldmpk_rgml &qcc glqrpsargmlq'

3*..., .,

/. //

?r _lw rgkc bspgle rfc 0.0. a_jclb_p wc_p* bgb rfc mpe_lgx_rgml f_tc _l glrcpcqr gl mp _ qgel_rspc mp mrfcp _srfmpgrw

Wcq

mtcp _ dgl_lag_j _aamslr &`_li* qcaspgrgcq* mp mrfcp' gl _ dmpcgel amslrpw= Gd Wcq* rfc mpe_lgx_rgml k_w f_tc rm dgjc DglACL Dmpk //2* Pcnmpr md Dmpcgel @_li _lb Dgl_lag_j ?aamslrq, Gd Wcq* clrcp rfc l_kc md rfc dmpcgel amslrpw

fcpc z 0

Bspgle rfc r_v wc_p* bgb rfc mpe_lgx_rgml pcacgtc _ bgqrpg`srgml dpmk* mp u_q gr rfc ep_lrmp md* mp rp_lqdcpmp rm* _

dmpcgel rpsqr= ||||||||||||||||||||||||||||||||||||||||||||||||||||||||| 1

Gd Wcq* qcc glqrpsargmlq dmp mrfcp dmpkq rfc mpe_lgx_rgml k_w f_tc rm dgjc, Clrcp rfc _kmslr md r_v+cvcknr glrcpcqr pcacgtcb mp _aapscb bspgle rfc r_v wc_p |||||||||

Bgb rfc mpe_lgx_rgml af_lec grq kcrfmb md _aamslrgle= &qcc glqrpsargmlq'

z "

|||||||||||||||||||||||||||

Gd 2_ gq Wcq* f_q rfc mpe_lgx_rgml bcqapg`cb rfc af_lec ml Dmpk 77.* 77.+CX* 77.+ND* mp Dmpk //06= Gd Lm* cvnj_gl gl N_pr T }}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}

Qsnnjckclr_j Gldmpk_rgml

N_pr T

Npmtgbc rfc cvnj_l_rgml pcosgpcb `w N_pr GT* jglc 2`, ?jqm* npmtgbc _lw mrfcp _bbgrgml_j gldmpk_rgml, Qcc glqrpsargmlq,

Qgel Fcpc

Qgel_rspc md mddgacp Npglr-Rwnc npcn_pcp%q l_kc

B_rc

Rgrjc

Npcn_pcp%q qgel_rspc

N_gb Q?P?F K, FMNIGLQ Q?P?F K, FMNIGLQ Npcn_pcp JSKQBCL $ KAAMPKGAI* JJN Sqc Mljw Dgpk%q l_kc z 147 DP?LIJGL QRPCCR Dgpk%q _bbpcqq z @SDD?JM* LW /20.0

.015// .0+.0+0/

K_w rfc GPQ bgqasqq rfgq pcrspl ugrf rfc npcn_pcp qfmul `cjmu &qcc

NPCQGBCLR

glqrpsargmlq'=

B_rc

//-/3-0/

Afcai

qcjd+ cknjmwcb Dgpk%q CGL Nfmlc lm,

NRGL

Wcq Lm

N.0./.5./ /4+.543264

&5/4'634+11.. Dmpk 77.+R &0.0.'

36 /414///3 5616/4 U..363..,. 0.0.,.3... FC?JRF DMSLB?RGML DMP UCQ U..363./