Grandes opções do plano e orçamento e mapa do pessoal do município de Tomar para o ano de 2017

GRANDES OPÇÕES DO PLANO E ORÇAMENTO 2017

“A força ganha, não por estar a ser exercida, mas sim por existir” Joseph Schumpeter

ÍNDICE GERAL

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PROPOSTA DE ORÇAMENTO 9 Introdução 9 Enquadramento 12 Entidades participadas 13 O contexto orçamental 13 A receita 17 A despesa 19 Resumo da receita e despesa 20 6LWXDomR HFRQyPLFD H ÀQDQFHLUD 21 Objetivos 22 )LFKDV GH SURJUDPDV H SURMHWRV FRP ÀQDQFLDPHQWR 27 RELATÓRIO DAS REUNIÕES PREPARATÓRIAS – ESTATUTO DA OPOSIÇÃO 37 GRANDES OPÇÕES DO PLANO – PLANO PLURIANUAL DE INVESTIMENTOS 49 ORÇAMENTO DA RECEITA 63 ORÇAMENTO DA DESPESA 71 MAPA DE PESSOAL ÍNDICE DE FIGURAS E GRÁFICOS 11 Figura 1 – Densidade populacional 14 *UiÀFR $ *UiÀFR $ (YROXomR GR 2UoDPHQWR ,QLFLDO GD 5HFHLWD 14 *UiÀFR % ² &RPSDUDomR GD HVWUXWXUD GH UHFHLWD HQWUH 7RPDU H R 3DtV 16 *UiÀFR & ² 5HFHLWD SURYHQLHQWH GR ,0, 16 *UiÀFR ' ² 5HFHLWD SURYHQLHQWH GR ,07 17 *UiÀFR ( ² &RPSDUDomR GD HVWUXWXUD GD GHVSHVD HQWUH R 7RPDU H R 3DtV 19 *UiÀFR ) ² 3DVVLYRV )LQDQFHLURV GH D 19 *UiÀFR * ² 5HVXPR GD 5HFHLWD H 'HVSHVD GH ÍNDICE DE QUADROS 10 4XDGUR , ² 3UHYLV}HV 0DFURHFRQyPLFDV SDUD R DQR GH 11 4XDGUR ,, (YROXomR GH DOJXQV LQGLFDGRUHV HFRQyPLFRV H GHPRJUiÀFRV 12 4XDGUR ,,, ² 3HUtPHWUR DXWiUTXLFR 15 Quadro IV – Orçamento inicial da Receita 18 Quadro V – Orçamento inicial da Despesa 19 Quadro VI – Resumo da Receita e Despesa 20 Quadro VII – Empréstimos bancários em curso 21 Quadro VIII – Objetivos

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PARTE I

GRANDES OPÇÕES DO PLANO

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As peças previsionais são preparadas e apresentadas no mesmo formato, e o seu desenvolvimento em idênticas linhas às que têm sido seguidas em anos anteriores, o que facilitará a comparabilidade e a análise por parte dos destinatários da informação.

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1) O OGE para 2017 prevê um crescimento do PIB em 1,5% 2) Relatório de Augusto Mateus & Associados, março de 2014, p.158 MÊdio Tejo 2020: Plano EstratÊgico de Desenvolvimento 2014-2020

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O Quadro II mostra a evolução de alguns indicadores de ordem social e económica do ano 2001 a 2014, donde se SRGH GHVWDFDU D GLPLQXLomR GDV GHVSHVDV H UHFHLWDV GR 0XQLFtSLR SRU KDELWDQWH

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Fig.1- Densidade populacional TOMAR

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O CONTEXTO ORÇAMENTAL As mudanças de paradigma social, económica e tecnológica, são transversais às grandes cidades e ao interior, onde R SRGHU ORFDO WHP TXH FRQWLQXDU D JDUDQWLU D VDWLVIDomR GRV OHJtWLPRV DQVHLRV GD SRSXODomR FXPSULQGR DVVLP D IXQomR GH FRPELQDU FXOWXUD DUWH HGXFDomR H GHVHQYROYLPHQWR HPSUHVDULDO HP DPELHQWHV DWUDHQWHV H JHUDGRUHV GH ULTXH]D $ WHFQRORJLD D YHORFLGDGH H R DOFDQFH GD LQIRUPDomR DV UHGHV VRFLDLV R WHOHWUDEDOKR HWF ID]HP HPHUJLU QRYDV IRUPDV GH YLYHU H GH FRQYLYHU VXUJLQGR DV GHQRPLQDGDV 6PDUW &LWLHV PRGHORV FRP QRYDV VROXo}HV XUEDQDV LQRYD GRUHV H PDLV VXVWHQWiYHLV 7RGDYLD DSDUHFHP WDPEpP QRYRV SUREOHPDV UHODFLRQDGRV FRP WHUURULVPR PLJUDo}HV SDQGHPLDV LQVHJXUDQoD GHVHPSUHJR GHVLJXDOGDGH HWF GHVDÀRV HVWHV TXH FDUHFHP GH XP FRQVWDQWH UHSHQVDU H IRUPXODomR GH QRYDV H HÀFD]HV UHVSRVWDV $ FRHVmR H LQWHUDomR VRFLDO DVVLP FRPR D SDUWLFLSDomR SROtWLFD GH FLGDGmRV LQIRUPDGRV H QR VHX SOHQR H[HUFtFLR GH FLGDGDQLD D SDU GD FUHVFHQWH UHVSRQVDELOL]DomR GR SRGHU ORFDO VHUmR FHUWDPHQWH OLQKDV GH IRUoD TXH SHUPLWHP VXSODQWDU HVWHV GHVDÀRV GR SUHVHQWH H GR IXWXUR e QHVWH DPELHQWH VRFLRSROtWLFR H HP FRQWH[WR GH PXGDQoD TXH VHPSUH VH H[LJH PDLRU FDSDFLGDGH GH UHVLOLrQFLD 3DUD além disso, a elevada imprevisibilidade e constante necessidade de adaptação dos escassos recursos, torna cada YH] PDLV FRPSOH[D D SUHSDUDomR GH SODQRV H SHoDV SUHYLVLRQDLV GHYHQGR SRU LVVR VHUHP DGRWDGRV FULWpULRV UREXVWRV de racionalidade e realismo.

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De 2011 para 2017 o orça mento inicial diminui qua VH QXPD WUDMHWyULD GH aproximação à realidade, que se explica pela signi ÀFDWLYD GLPLQXLomR GDV UH ceitas de capital e de haver maior disciplina na prepara ção das peças previsionais.

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Dos impostos diretos o único que parece ter invertido a tendência de GLPLQXLomR p R ,07 SDUD R TXDO VH estima uma subida.

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[ 16 ]

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[ 17 ]

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[ 18 ]

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[ 19 ]

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[ 20 ]

FICHAS DE PROGRAMAS E PROJETOS COM FINANCIAMENTO

[ 21 ]

[ 22 ]

[ 23 ]

PARTE II

RELATÓRIO DAS REUNIÕES PREPARATÓRIAS PARA O ORÇAMENTO DE 2016 AO ABRIGO DO ESTATUTO DA OPOSIÇÃO

[ 25 ]

[ 26 ]

RELATÃ&#x201C;RIO DAS REUNIÃ&#x2022;ES PREPARATÃ&#x201C;RIAS PARA O ORÃ&#x2021;AMENTO DE 2017 AO ABRIGO DO ESTATUTO DE OPOSIÃ&#x2021;Ã&#x192;O

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De acordo com o disposto no nº 3 do artigo 5º do Estatuto do Direito de Oposição, foram convidados para uma reu QLmR FRP D 3UHVLGHQWH GD &kPDUD RV UHSUHVHQWDQWHV GR 36' GRV ,S7 H GR %( HP GLDV H KRUDV GLIHUHQWHV H IDFXO

[ 27 ]

WDGRV DRV UHSUHVHQWDQWHV GRV SDUWLGRV SROtWLFRV H JUXSRV GH FLGDGmRV QD $VVHPEOHLD 0XQLFLSDO TXH FRPSDUHFHUDP jV UHXQL}HV DQWHV GD DSURYDomR Ã&#x20AC;QDO DV SURSRVWDV GRV SODQRV H RUoDPHQWRV HP YHUVmR GH WUDEDOKR GH IRUPD D SRGHU RXYLU GHVWHV DV VXJHVW}HV GH PHOKRULD H D SUHVWDU WRGRV RV HVFODUHFLPHQWRV H LQIRUPDo}HV VROLFLWDGDV

4. RESUMOS DAS REUNIÃ&#x2022;ES 4.1. â&#x20AC;&#x201C; Independentes por Tomar (IpT) 5HXQLmR FRP R *UXSR GRV ,QGHSHQGHQWHV SRU 7RPDU VDOmR QREUH jV + GR GLD )RL GLVWULEXtGD XPD YHUVmR GH WUDEDOKR GR SODQR SOXULDQXDO GH LQYHVWLPHQWRV 1R PRPHQWR DWXDO DLQGD QmR p SRVVtYHO DIHULU VH D SURSRVWD GH RUoDPHQWR SDUD p LQIHULRU RX VXSHULRU j GH YLVWR KDYHU D QHFHVVLGDGH GH FRQWHPSODU RV SURMHWRV Ã&#x20AC;QDQFLDGRV SRU IXQGRV FRPXQLWiULRV Foi referido que se mantinha como linha prioritária a aposta na habitação social a par de projetos que visem a inclusão VRFLDO GH IDPtOLDV FDUHQFLDGDV )RL UHIHULGR DLQGD TXH H[LVWLUD D DEHUWXUD GH QRYDV UXEULFDV HP 33, SDUD DFRPRGDU RV LQYHVWLPHQWRV SUHYLVWRV H Mi FRP Ã&#x20AC;QDQFLDPHQWR QR kPELWR GR 3RUWXJDO QRV VHXV GLYHUVRV SURJUDPDV RSHUDFLRQDLV EHP FRPR QDFLRQDLV FRPR R FDVR GR 326(85 )RL GDGD LQIRUPDomR TXH LULD VHU LQFOXtGD XPD REUD D REUD GH 3DOKDYm TXH QmR p REMHWR GH Ã&#x20AC;QDQFLDPHQWR )RUDP DLQGD DERUGDGDV DV TXHVW}HV UHODWLYDV DR PDSD GH SHVVRDO WHQGR VLGR SUHVWDGD LQIRUPDomR TXH D QtYHO GH WpF QLFRV VXSHULRUHV DSHQDV HVWiYDPRV D SUHYHU D DEHUWXUD GH FRQFXUVR SDUD XP D DUTXHyORJR D DVVLVWHQWHV WpFQLFRV e um numero maior de assistentes operacionais, bem como a abertura de procedimento concursal para ingresso na carreira de bombeiro de 3ª ao contrário do que se tinha efetuado no passado em que o procedimento tinha sido para assistente operacional.

6ROLFLWDUDP RV ,S7 QRYD UHXQLmR TXDQGR KRXYHVVH XPD YHUVmR PDLV GHÃ&#x20AC;QLWLYD GR 33, H RUoDPHQWR

4.2. â&#x20AC;&#x201C; Partido Social Democrata (PSD) 5HXQLmR FRP R 3DUWLGR 6RFLDO 'HPRFUDWD QR *DELQHWH GD SUHVLGHQWH jV + GR GLD )RL GLVWULEXtGD XPD YHUVmR GH WUDEDOKR GR SODQR SOXULDQXDO GH LQYHVWLPHQWRV 1R PRPHQWR DWXDO DLQGD QmR p SRVVtYHO DIHULU VH D SURSRVWD GH RUoDPHQWR SDUD p LQIHULRU RX VXSHULRU j GH YLVWR KDYHU D QHFHVVLGDGH GH FRQWHPSODU RV SURMHWRV Ã&#x20AC;QDQFLDGRV SRU IXQGRV FRPXQLWiULRV Foi referido que se mantinha como linha prioritária a aposta na habitação social a par de projetos que visem a inclusão VRFLDO GH IDPtOLDV FDUHQFLDGDV )RL UHIHULGR DLQGD TXH H[LVWLUD D DEHUWXUD GH QRYDV UXEULFDV HP 33, SDUD DFRPRGDU RV LQYHVWLPHQWRV SUHYLVWRV H Mi FRP Ã&#x20AC;QDQFLDPHQWR QR kPELWR GR 3RUWXJDO QRV VHXV GLYHUVRV SURJUDPDV RSHUDFLRQDLV EHP FRPR QDFLRQDLV FRPR R FDVR GR 326(85 )RL GDGD LQIRUPDomR TXH LULD VHU LQFOXtGD XPD REUD D REUD GH 3DOKDYm TXH QmR p REMHWR GH Ã&#x20AC;QDQFLDPHQWR )RUDP FRORFDGDV DV VHJXLQWHV TXHVW}HV HP VtQWHVH a. Irá haver aumento de transferências de capital para as juntas de freguesia? Sim, nos contratos de execução um DXPHQWR GH H LUHPRV FHOHEUDU FRQWUDWRV DGPLQLVWUDWLYRV FRP WRGDV DV IUHJXHVLDV FRP H[FHomR GH 6mR 3H GUR H 2ODOKDV YLVWR HP 6mR 3HGUR VHU XPD REUD GD FRPSHWrQFLD GRV 60$6 H HP 2ODOKDV D &kPDUD DVVXPLUi D empreitada; b. ,Ui VHU UHDOL]DGR RUoDPHQWR SDUWLFLSDWLYR MRYHP" 0DQWHP VH QR RUoDPHQWR SDUD VHUmR IHLWDV VHVV}HV SXEOL cas e votação c. &RPR LUi VHU HIHWXDGR R UHDORMDPHQWR GD FRPXQLGDGH FLJDQD" 2 UHDORMDPHQWR GD FRPXQLGDGH FLJDQD LUi VHU HIH WXDGR HP FDVDV SHUWHQoD GR PXQLFtSLR HP HVFRODV UHDELOLWDGDV SDUD R HIHLWR 4XDQWR DRV FHQWURV FRPXQLWiULRV o primeiro que está pensado é junto à GNR, os outros estão ainda em análise, sendo que a prioridade é ser em terrenos camarários, já infraestruturados ou próximos de infraestruturas d. ,Ui VHU LQVWDODGR XP 6NDWH SDUTXH" (VWDPRV D HVWXGDU D VXD ORFDOL]DomR VHQGR TXH QmR HVWi GHVFDUWDGD D KLSy WHVH QXPD GDV EROVDV ODWHUDLV GD 9iU]HD *UDQGH

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e. Haverá politicas de natalidade? Não estão previstos incentivos à natalidade 2 36' DSUHVHQWRX XP GRFXPHQWR VtQWHVH GDV VXDV DERUGDJHQV H VXJHVW}HV TXH VH UHSURGX] QD tQWHJUD $V *UDQGHV 2So}HV GR 3ODQR *23 H 2UoDPHQWR SDUD VHUmR XP LQVWUXPHQWR IXQGDPHQWDO SDUD D FRQFUHWL]D omR GH SROtWLFDV GH GHVHQYROYLPHQWR VRFLDO H HFRQyPLFR TXH R 0XQLFtSLR GH 7RPDU WDQWR FDUHFH $V iUHDV DSUHVHQWDGDV GH VHJXLGD FRQFUHWL]DP VH PHGLDQWH Do}HV TXH DUWLFXODGDPHQWH SURPRYHP LQLFLDWLYDV FRQ MXQWDV GH DJHQWHV H LQVWLWXLo}HV LQWHUQDV H H[WHUQDV DR &RQFHOKR 3UHWHQGH VH SURPRYHU XP GHVHQYROYLPHQWR FRPXP TXH Vy VH DOFDQoDUi FRP D PRELOL]DomR H HQYROYLPHQWR GH WRGD D SRSXODomR GR &RQFHOKR GH 7RPDU H GH LQYHVWLGRUHV H SDUFHLURV H[WHUQRV 1HVWH VHQWLGR SDVVDPRV D HOHQFDU R FRQMXQWR GDV QRVVDV SULQFLSDLV SUHRFXSDo}HV VREUH DV PHVPDV H TXH GHYH ULDP SRUWDQWR VHU WLGDV HP FRQWD QD HODERUDomR GDV UHIHULGDV *23 É nessa linha que consideramos nove áreas prioritárias: 1. (035(*2 ,19(67,0(172 ( (;321(1&,$d®2 (035(6$5,$/ ɑ 2. $d®2 62&,$/ ɑ 3. 3/$1($0(172 ɑ 4. $662&,$7,9,602 &8/785$ ( '(632572 ɑ 5. $0%,(17( ( 3$75,0Ð1,2 ɑ 6. ('8&$d®2 ɑ 7. 75$163257(6 ɑ 8. 6$Ô'( ɑ 9. -89(178'( 10. ,17(59(1d¯(6 48( &216,'(5$026 85*(17(6 ( ,03257$17(6 ɑ (035(*2 ,19(67,0(172 ( (;321(1&,$d®2 (035(6$5,$/ 2 &RQFHOKR GH 7RPDU WHP VLGR XP GRV DWLQJLGRV SHOD DWXDO FULVH HFRQyPLFD H ÀQDQFHLUD H FRPR WDO HQWHQGH VH TXH a primeira prioridade do Executivo municipal deverá ser a manutenção e defesa dos postos de trabalho existentes QDV HPSUHVDV GR FRQFHOKR EHP FRPR R FRQMXQWR GH PHGLGDV H LQLFLDWLYDV TXH SRVVDP YLU D GLQDPL]DU H D IDFLOLWDU D instalação de novas unidades industriais, comerciais e de turismo. Assim sendo, entendemos que nas Grandes Op o}HV GH 3ODQR GHYH SUHYHU R VHJXLQWH a. &ULDomR GH XP VLVWHPD GH LQFHQWLYRV UHGXomR GH FXVWRV WD[DV SDUD D À[DomR DSRLR ORJtVWLFR GRWDomR GH LQIUDHV WUXWXUDV SDUD DWUDLU PXOWLSOLFDU LQYHVWLPHQWR SULYDGR DR QtYHO GRV GLIHUHQWHV VHFWRUHV GH DWLYLGDGH FULDQGR ULTXH]D e combatendo o desemprego: comércio, indústria, serviços, agricultura, turismo; b. &ULDomR GH XP 3ROR 7HFQROyJLFR QD iUHD HQYROYHQWH DR ,QVWLWXWR 3ROLWpFQLFR H DSRLDU R PHVPR QD PRGHUQL]DomR H DPSOLDomR GR &DPSXV c. 3URPRomR H FRQFUHWL]DomR GH SDUFHULDV H SURWRFRORV HQWUH (PSUHVDV $VVRFLDo}HV H DV YiULDV LQVWLWXLo}HV GH HQVLQR H[LVWHQWHV QR &RQFHOKR GH 7RPDU d. 7UDQVIRUPDU 7RPDU QXP FRQFHOKR LQWHOLJHQWH QR GRPtQLR GDV QRYDV WHFQRORJLDV PHGLDQWH D FULDomR GH XPD &HQWUDO &RRUGHQDGRUD GH EDVH GDGRV GH WRGD D LQIRUPDomR GRV GLYHUVRV VHWRUHV GH DWLYLGDGH SODQHDPHQWR HGXFDomR KDELWDomR LQIUDHVWUXWXUDV HQHUJLD iJXD VDQHDPHQWR MXVWLoD ÀQDQoDV VD~GH IRUoDV GH VHJXUDQoD 3URWHomR &LYLO WXULVPR DFHVVLELOLGDGH H WUDQVSRUWHV H VHUYLoRV DXWiUTXLFRV e. Implementar nas Juntas de Freguesia terminais de acesso à população, no sentido de promover a competitivi GDGH H DÀUPDomR GR &RQFHOKR QR FRQWH[WR QDFLRQDO H LQWHUQDFLRQDO PHGLDQWH D DJLOL]DomR GD LQIRUPDomR GLVSR QtYHO WHQGR HP YLVWD R GHVHQYROYLPHQWR LQWHJUDGR H VXVWHQWDGR VDEHQGR XVDU R SRGHU GDV QRYDV WHFQRORJLDV antecipando o futuro que queremos; f. $SRLR DRV DJHQWHV HFRQyPLFRV ORFDLV FRPpUFLR LQG~VWULD VHUYLoRV DJULFXOWXUD WXULVPR PHGLDQWH SDUFHULDV ,37 $JUXSDPHQWRV (VFRODV &HQWURV GH )RUPDomR 1(56$17 TXH OKHV SUHVWHP IRUPDomR SDUD IDFLOLWDU R GH VHQYROYLPHQWR GDV FRPSHWrQFLDV OtQJXDV FRPXQLFDomR OLGHUDQoD FDSD]HV GH GDU UHVSRVWD jV H[LJrQFLDV GRV FLGDGmRV GR VpFXOR ;;, ɑ g. 3RWHQFLDU DV PDUFDV ´7HPSOiULRVµ ´&RPXQLGDGH -XGDLFDµ H ´&DPLQKRV GH 6DQWLDJRµ ɑ h. 5HIRUoDU R HQYROYLPHQWR QD 5HGH GRV 0RVWHLURV 3DWULPyQLR GD +XPDQLGDGH QD 5HGH GDV -XGLDULDV GH 3RUWXJDO

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H QD 5HGH GDV &LGDGHV H 9LODV 0HGLHYDLV É&#x2018; i. $GRomR GH SROtWLFDV GH LQFHQWLYR j Ã&#x20AC;[DomR GH SHTXHQRV H PpGLRV HPSUHViULRV QR 0XQLFtSLR $JrQFLD GH SURPR omR H LQYHVWLPHQWR 7RPDU 'LQkPLFR É&#x2018; j. 5HDOL]DomR GH XP HVWXGR GH PHUFDGR TXH DSRQWH DWLYLGDGHV QHJyFLRV HFRQRPLFDPHQWH YLiYHLV SDUD R FRQFH OKR H UHVSHWLYD GLYXOJDomR FRPR LQFHQWLYR DR HPSUHHQGHGRULVPR É&#x2018; k. ,VHQomR GR ,0, SDUD RV HPSUHViULRV TXH VH LQVWDOHP QR FRQFHOKR GH 7RPDU QR SULPHLUR DQR GH DWLYLGDGH l. &ULDomR GH XP GLUHWyULR GH WRGD D DWLYLGDGH FRPHUFLDO H HPSUHVDULDO GR 0XQLFtSLR GH IRUPD D GLYXOJDU RIHUWDV GH HPSUHJR É&#x2018; m. 3ODQHDPHQWR GLQDPL]DomR H UHTXDOLÃ&#x20AC;FDomR GDV ]RQDV LQGXVWULDLV GH 6DQWD &LWD 9HQGD GD *DLWD H 3LQWDGR FULDQGR XP WULkQJXOR LQGXVWULDO HQWUH DV PHVPDV DSURYHLWDQGR D OLJDomR HQWUH R ,& H $ É&#x2018; n. &ULDomR GH XP VLVWHPD GH LQFHQWLYRV SDUD UHDELOLWDomR XUEDQtVWLFD H UHTXDOLÃ&#x20AC;FDomR GRV HGLItFLRV GR &HQWUR KLVWy ULFR TXH SRWHQFLHP D DWUDWLYLGDGH GH QRYRV UHVLGHQWHV H TXH SRWHQFLH D GLQDPL]DomR GH HYHQWRV GLYHUVLÃ&#x20AC;FDGRV GH FDUiWHU FRPHUFLDO WXUtVWLFR FXOWXUDO HGXFDWLYR H GHVSRUWLYR É&#x2018; $d®2 62&,$/ 7HQGR HP FRQVLGHUDomR D JUDYH VLWXDomR HFRQyPLFD H Ã&#x20AC;QDQFHLUD TXH DIHWD SDUWH GD SRSXODomR WRPDUHQVH GHYHUi WDPEpP D &kPDUD GHVHQYROYHU LQLFLDWLYDV TXH SRVVDP HQIUHQWDU H PLQRUDU WDLV FRPR a. Desenvolver iniciativas (apoio socio económico, dotação de infraestruturas habitacionais, programas de forma omR HGXFDomR VHQVLELOL]DomR HVWLPXOR DR HPSUHHQGHGRULVPR DWUDYpV GRV PHLRV H LQVWLWXLo}HV GLVSRQtYHLV TXH SHUPLWDP XOWUDSDVVDU SUREOHPDV UHODFLRQDGRV FRP IDPtOLDV GHVHVWUXWXUDGDV PLQRULDV pWQLFDV GHVHPSUHJR FRPSRUWDPHQWRV GH ULVFR É&#x2018; b. /LGHUDQoD JHVWmR H RUJDQL]DomR GRV VHUYLoRV DXWiUTXLFRV GH PRGR D JDUDQWLU R HQYROYLPHQWR GRV UHFXUVRV KXPDQRV D RWLPL]DomR GRV UHFXUVRV PDWHULDLV H Ã&#x20AC;QDQFHLURV DVVHQWH QD WUDQVSDUrQFLD HÃ&#x20AC;FLrQFLD H VXVWHQWDELOL GDGH TXH SURSLFLHP R EHP HVWDU H TXDOLGDGH GH YLGD GD SRSXODomR É&#x2018; c. $SRLR DR IXQFLRQDPHQWR GDV ,366·V ODUHV FHQWURV GH GLD FUHFKHV HWF É&#x2018; d. ,PSOHPHQWDU SURJUDPDV GHVWLQDGRV j LQVHUomR VRFLDO GDV IDPtOLDV PDLV FDUHQFLDGDV É&#x2018; e. Reabilitação dos equipamentos destinados à habitação social e manutenção ou até redução das rendas em vigor, de acordo com os atuais rendimentos dos agregados familiares, garantindo o direito fundamental a uma KDELWDomR GLJQD jV IDPtOLDV VHP UHFXUVRV HFRQyPLFRV É&#x2018; f. Articulação com as juntas de freguesia para a implementação de uma rede de transporte com sede nas respeti YDV -XQWDV TXH SRVVD SHUPLWLU R DFHVVR GRV PDLV FDUHQFLDGRV H GRV LQFDSDFLWDGRV DRV VHUYLoRV GH VD~GH É&#x2018; g. (ODERUDomR GH XPD EDVH GH GDGRV UHODWLYD jV VLWXDo}HV GH FDUrQFLD GR PXQLFtSLR h. &ULDomR GH XPD 3ODWDIRUPD GH DUWLFXODomR HQWUH WRGDV DV $VVRFLDo}HV GH 6ROLGDULHGDGH H[LVWHQWHV QR FRQFHOKR WHQGR WRGDV DFHVVR j EDVH GH GDGRV UHIHULGD QR SRQWR DQWHULRU GH PRGR D RWLPL]DU D SUHVWDomR GH DSRLR DUWLFX ODGR H RX FRPSOHPHQWDU HQWUH WRGDV DV DVVRFLDo}HV i. ,PSOHPHQWDomR GH XP 3URMHWR ´&RPEDWH j SREUH]Dµ QRPHDGDPHQWH QD LPSOHPHQWDomR GH XP VLVWHPD GH FRP EDWH DR GHVSHUGtFLR DOLPHQWDU

3/$1($0(172 &RQVLGHUDPRV TXH p QHFHVViULR FRQWLQXDU R WUDEDOKR GH UHYLVmR GR 3'0 DGHTXDQGR R jV QRYDV UHDOLGDGHV H OHJLV lação em vigor. Neste sentido, entendemos que é necessário implementar as seguintes medidas: a. (ODERUDomR GH XP 3ODQR (VWUDWpJLFR SDUD R FRQFHOKR TXH VHUYLUi GH DSRLR j WRPDGD GH GLYHUVDV GHFLV}HV QR PHDGDPHQWH QD UHYLVmR GR 3'0 É&#x2018; b. 5HYLVmR HIHWLYD GR 3ODQR 'LUHWRU 0XQLFLSDO LQWHUFDODQGR FRP D UHDOL]DomR GH VHVV}HV S~EOLFDV SHODV MXQWDV GH IUHJXHVLD QR VHQWLGR GH HVFODUHFHU D SRSXODomR VREUH DV DOWHUDo}HV HP FXUVR É&#x2018; c. /HYDQWDPHQWR H FODVVLÃ&#x20AC;FDomR GH WRGR R SDWULPyQLR TXH SRVVD VHU FRQVLGHUDGR GH LQWHUHVVH DUTXLWHWyQLFR H GLOL JHQFLDU QR VHQWLGR GH FODVVLÃ&#x20AC;FDU R PHVPR GH LQWHUHVVH S~EOLFR É&#x2018; d. &RQWLQXDU R WUDEDOKR GH FRQVWUXomR H PHOKRUDPHQWRV GD UHGH YLiULD GR FRQFHOKR GH 7RPDU QR VHQWLGR GH DSUR ximar centros urbanos; e. $WXDOL]DU RV 5HJXODPHQWRV GH &RQVWUXomR GH IRUPD D XQLIRUPL]DU DV FRQVWUXo}HV GH DFRUGR FRP DV FDUDFWHUtV WLFDV GD UHJLmR RQGH VH LQVHUHP É&#x2018;

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[ 32 ]

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[ 33 ]

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[ 34 ]

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PARTE III

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PARTE VI

MAPA DE PESSOAL

[ 71 ]

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ĚƵĐĂĕĆŽ

ϭ

ϭ

ϭ

ŶŐĞŶŚĞƌŝĂ ŵďŝĞŶƚĂů

ϭ

ϭ

ϭ

ŶŐĞŶŚĂƌŝĂ ŝǀŝů

ϭϭ

ϭϭ

ϭϬ

ŶŐĞŶŚĂƌŝĂ ůĞĐƚƌŽƚĠĐŶŝĐĂ

ϭ

ϭ

ϭ

ŶŐĞŚĂƌŝĂ &ůŽƌĞƐƚĂů

Ϯ

Ϯ

Ϯ

ŶŐĞŶŚĂƌŝĂ 'ĞŽŐƌĄĨŝĐĂ

ϭ

ϭ

ϭ

WƌĂĕĂ ĚĂ ZĞƉƷďůŝĐĂ ͼ dĞů͘ Ϯϰϵ ϯϮϵ ϴϴϱ ͼ &Ădž Ϯϰϵ ϯϮϵ ϴϬϵ ͼ ͲŵĂŝů͗ ƉƌĞƐŝĚĞŶĐŝĂΛĐŵͲƚŽŵĂƌ͘Ɖƚ ͼ ϮϯϬϬͲϱϱϬ dŽŵĂƌ WĞƐƐŽĂ ŽůĞƚŝǀĂ Ŷ͘Ǒ ϱϬϲ ϳϯϴ ϵϭϰ

ϭ ϭ

ϭ ϭ

ϭ

D W W ^^K > Ͳ ϮϬϭϳ

D Z DhE/ /W > dKD Z

;ŶŽƐ ƚĞƌŵŽƐ ĚĂ >Ğŝ 'ĞƌĂů ĚŽ dƌĂďĂůŚŽ Ğŵ &ƵŶĕƁĞƐ WƷďůŝĐĂƐ͕ ĂƉƌŽǀĂĚĂ Ğŵ ĂŶĞdžŽ ă >Ğŝ Ŷ͘Ǒ ϯϱͬϮϬϭϰ ĚĞ ϮϬ ĚĞ ũƵŶŚŽͿ

ĂƌŐŽͬ ĂƌƌĞŝƌĂͬ ĂƚĞŐŽƌŝĂ

ƚŝǀŝĚĂĚĞ

dŽƚĂů ĚĞ ƉŽƐƚŽƐ dŽƚĂů ĚĞ ƉŽƐƚŽƐ ĚĞ ƚƌĂďĂůŚŽ ĚĞ ƚƌĂďĂůŚŽ KĐƵƉĂĚŽƐ Ğ ƉŽƌ KĐƵƉĂĚŽƐ ŽĐƵƉĂƌ

KĐƵƉĂĚŽƐ ŽŵŝƐƐĆŽ ĚĞ ^ĞƌǀŝĕŽ

ŽŶƚƌĂƚŽ ƉŽƌ DŽďŝůŝĚĂĚĞ DŽďŝůŝĚĂĚĞ dĞŵƉŽ /ŶƚĞƌŶĂ ĚĞ KƵƚƌŽƐ /ŶƚĞƌĐĂƌƌĞŝƌĂƐͬ /ŶĚĞƚĞƌŵŝŶĂĚŽ KƌŐĂŶŝƐŵŽƐ ĂƚĞŐŽƌŝĂƐ

EǑ ĚĞ ƉŽƐƚŽƐ ĚĞ ƚƌĂďĂůŚŽ ƉŽƌ ŽĐƵƉĂƌ

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ ŶŐĞŶŚĂƌŝĂ DĞĐąŶŝĐĂ

ϭ

ϭ

ϭ

ŶŐĞŶŚĂƌŝĂ DĞĐĂƚƌſŶŝĐĂ

ϭ

ϭ

ϭ

'ĞƐƚĆŽ ĚĞ ZĞĐƵƌƐŽƐ ,ƵŵĂŶŽƐ

ϰ

ϰ

Ϯ

:ƵƌŝƐƚĂ

ϱ

ϱ

ϱ

>şŶŐƵĂƐ Ğ >ŝƚĞƌĂƚƵƌĂƐ

ϭ

ϭ

ϭ

DĞĚŝĐŝŶĂ sĞƚĞƌŝŶĄƌŝĂ

Ϯ

ϭ

ϭ

WƐŝĐŽůŽŐŝĂ

ϭ

Ϯ

ϭ ϭ

[ 73 ]

^ĞĐƌĞƚĂƌŝĂĚŽ

ϭ

ϭ

ϭ

^ĞŐƵƌĂŶĕĂ Ğ ,ŝŐŝĞŶĞ ŶŽ dƌĂďĂůŚŽ

Ϯ

Ϯ

Ϯ

^ŽĐŝŽůŽŐŝĂ

ϭ

ϭ

ϭ

dƵƌŝƐŵŽ

ϭ

ϭ

ϴ

ϴ

ϰ

ϰ

ƌĞĂ ĚŵŝŶŝƐƚƌĂƚŝǀĂ

ϳ

ϳ

ϯ

ϰ

dĞƐŽƵƌĂƌŝĂ

ϭ

ϭ

ϭ

ϴϮ

ϳϭ

ϲϭ

ĨĞƌŝĕĆŽ ĚĞ WĞƐŽƐ Ğ DĞĚŝĚĂƐ

ϭ

ϭ

ϭ

ƌĞĂ ĚŵŝŶŝƐƚƌĂƚŝǀĂ

ϱϳ

ϱϬ

ϰϭ

ŝďůŝŽƚĞĐĂ Ğ ŽĐƵŵĞŶƚĂĕĆŽ

ϲ

ϲ

ϲ

ŽŶƐƚƌƵĕĆŽ ŝǀŝů

ϰ

ϰ

ϰ

ĞƐĞŶŚŽ

ϰ

ϰ

ϰ

ĞƐƉŽƌƚŽ

ϭ

ϭ

ϭ

EĂĚĂĚŽƌ ^ĂůǀĂĚŽƌ

ϯ

Ϯ

ϭ

dŽƉŽŐƌĂĨŝĂ

ϭ

ϭ

ϭ

dƵƌŝƐŵŽ

ϱ

Ϯ

Ϯ

ŽƌĚĞŶĂĚŽƌ dĠĐŶŝĐŽ

ƐƐŝƐƚĞŶƚĞ dĠĐŶŝĐŽ

WƌĂĕĂ ĚĂ ZĞƉƷďůŝĐĂ ͼ dĞů͘ Ϯϰϵ ϯϮϵ ϴϴϱ ͼ &Ădž Ϯϰϵ ϯϮϵ ϴϬϵ ͼ ͲŵĂŝů͗ ƉƌĞƐŝĚĞŶĐŝĂΛĐŵͲƚŽŵĂƌ͘Ɖƚ ͼ ϮϯϬϬͲϱϱϬ dŽŵĂƌ WĞƐƐŽĂ ŽůĞƚŝǀĂ Ŷ͘Ǒ ϱϬϲ ϳϯϴ ϵϭϰ

ϭ

ϭ

ϵ

ϭϭ

ϭ

ϴ

ϳ

ϭ

ϭ ϯ

D W W ^^K > Ͳ ϮϬϭϳ

D Z DhE/ /W > dKD Z

;ŶŽƐ ƚĞƌŵŽƐ ĚĂ >Ğŝ 'ĞƌĂů ĚŽ dƌĂďĂůŚŽ Ğŵ &ƵŶĕƁĞƐ WƷďůŝĐĂƐ͕ ĂƉƌŽǀĂĚĂ Ğŵ ĂŶĞdžŽ ă >Ğŝ Ŷ͘Ǒ ϯϱͬϮϬϭϰ ĚĞ ϮϬ ĚĞ ũƵŶŚŽͿ

ĂƌŐŽͬ ĂƌƌĞŝƌĂͬ ĂƚĞŐŽƌŝĂ

ƚŝǀŝĚĂĚĞ

dŽƚĂů ĚĞ ƉŽƐƚŽƐ dŽƚĂů ĚĞ ƉŽƐƚŽƐ ĚĞ ƚƌĂďĂůŚŽ ĚĞ ƚƌĂďĂůŚŽ KĐƵƉĂĚŽƐ Ğ ƉŽƌ KĐƵƉĂĚŽƐ ŽĐƵƉĂƌ

KĐƵƉĂĚŽƐ ŽŵŝƐƐĆŽ ĚĞ ^ĞƌǀŝĕŽ

ŽŶƚƌĂƚŽ ƉŽƌ DŽďŝůŝĚĂĚĞ DŽďŝůŝĚĂĚĞ dĞŵƉŽ /ŶƚĞƌŶĂ ĚĞ KƵƚƌŽƐ /ŶƚĞƌĐĂƌƌĞŝƌĂƐͬ /ŶĚĞƚĞƌŵŝŶĂĚŽ KƌŐĂŶŝƐŵŽƐ ĂƚĞŐŽƌŝĂƐ

EǑ ĚĞ ƉŽƐƚŽƐ ĚĞ ƚƌĂďĂůŚŽ ƉŽƌ ŽĐƵƉĂƌ

ϳ

ϳ

ϳ

ĚĞ ĞŵŝƚĠƌŝŽƐ

ϭ

ϭ

ϭ

ĚĞ :ĂƌĚŝŶĞŝƌŽ

ϭ

ϭ

ϭ

ĚĞ KĨŝĐŝŶĂƐ DĞĐąŶŝĐĂƐ

ϭ

ϭ

ϭ

ĚĞ KďƌĂƐ ĚĞ ŽŶƐƚƌƵĕĆŽ ŝǀŝů

Ϯ

Ϯ

Ϯ

ĚĞ KďƌĂƐ ĚĞ ƐƚƌĂĚĂƐ Ğ ƌƌƵĂŵĞŶƚŽƐ

ϭ

ϭ

ϭ

ĚĞ WĂƌƋƵĞƐ ĚĞ DĄƋƵŝŶĂƐ

ϭ

ϭ

ϭ

ϭϵϬ

ϭϲϰ

ϭϱϵ

ϰ

Ϯϲ

ƌĞĂ ƵdžŝůŝĂƌ

ϰϳ

ϰϭ

ϰϬ

ϭ

ϲ

ƌĞĂ ĚĞ ŽŵďĞŝƌŽ

Ϯϯ

Ϯϯ

Ϯϯ

ƌĞĂ ĚĞ ^ĞƌǀŝĕŽƐ ƵĚŝŽǀŝƐƵĂŝƐ

ϭ

ϭ

ϭ

ĂůĐĞƚĞŝƌŽ

ϯ

ϯ

ϯ

ŶĐĂƌƌĞŐĂĚŽ KƉĞƌĂĐŝŽŶĂů

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

[ 74 ]

ĂŶĂůŝnjĂĚŽƌ

ϯ

ϯ

Ϯ

ĂŶƚŽŶĞŝƌŽ ĚĞ sŝĂƐ

ϮϬ

ϭϰ

ϭϰ

ĂƌƉŝŶƚĞŝƌŽ

Ϯ

Ϯ

Ϯ

ϭϬ

ϵ

ϴ

ŽǀĞŝƌŽ

ϲ

ϲ

ϱ

ůĞƚƌŝĐŝƐƚĂ

ϲ

ϲ

ϲ

ůĞƚƌŝĐŝƐƚĂ ƵƚŽ

Ϯ

Ϯ

Ϯ

ŶĐĂĚĞƌŶĂĚŽƌ

ϭ

ϭ

ϭ

&ŝĞů ĚĞ DĞƌĐĂĚŽƐ Ğ &ĞŝƌĂƐ

ϭ

ϭ

ϭ

:ĂƌĚŝŶĞŝƌŽ Ğ KƉĞƌĂĚŽƌ ^şůǀŝĐŽůĂ

ϭϳ

ϭϯ

ϭϯ

>ƵďƌŝĨŝĐĂĚŽƌ

ϭ

ϭ

ϭ

DĂƋƵŝŶŝƐƚĂ dĞĂƚƌĂů

ϭ

ϭ

ϭ

DĞĐąŶŝĐŽ

ϯ

Ϯ

Ϯ

DŽƚŽƌŝƐƚĂ ĚĞ >ŝŐĞŝƌŽƐ

ϭ

ϭ

ϭ

ŽŶĚƵƚŽƌ ĚĞ DĄƋƵŝŶĂƐ WĞƐĂĚĂƐ Ğ sĞşĐƵůŽƐ ƐƉĞĐŝĂŝƐ

WƌĂĕĂ ĚĂ ZĞƉƷďůŝĐĂ ͼ dĞů͘ Ϯϰϵ ϯϮϵ ϴϴϱ ͼ &Ădž Ϯϰϵ ϯϮϵ ϴϬϵ ͼ ͲŵĂŝů͗ ƉƌĞƐŝĚĞŶĐŝĂΛĐŵͲƚŽŵĂƌ͘Ɖƚ ͼ ϮϯϬϬͲϱϱϬ dŽŵĂƌ WĞƐƐŽĂ ŽůĞƚŝǀĂ Ŷ͘Ǒ ϱϬϲ ϳϯϴ ϵϭϰ

Ϭ

ϭ ϲ ϭ

ϭ

ϰ

ϭ

D W W ^^K > Ͳ ϮϬϭϳ

D Z DhE/ /W > dKD Z

;ŶŽƐ ƚĞƌŵŽƐ ĚĂ >Ğŝ 'ĞƌĂů ĚŽ dƌĂďĂůŚŽ Ğŵ &ƵŶĕƁĞƐ WƷďůŝĐĂƐ͕ ĂƉƌŽǀĂĚĂ Ğŵ ĂŶĞdžŽ ă >Ğŝ Ŷ͘Ǒ ϯϱͬϮϬϭϰ ĚĞ ϮϬ ĚĞ ũƵŶŚŽͿ

ĂƌŐŽͬ ĂƌƌĞŝƌĂͬ ĂƚĞŐŽƌŝĂ

ƚŝǀŝĚĂĚĞ

dŽƚĂů ĚĞ ƉŽƐƚŽƐ dŽƚĂů ĚĞ ƉŽƐƚŽƐ ĚĞ ƚƌĂďĂůŚŽ ĚĞ ƚƌĂďĂůŚŽ KĐƵƉĂĚŽƐ Ğ ƉŽƌ KĐƵƉĂĚŽƐ ŽĐƵƉĂƌ

KĐƵƉĂĚŽƐ ŽŵŝƐƐĆŽ ĚĞ ^ĞƌǀŝĕŽ

DŽďŝůŝĚĂĚĞ DŽďŝůŝĚĂĚĞ ŽŶƚƌĂƚŽ ƉŽƌ /ŶƚĞƌŶĂ ĚĞ KƵƚƌŽƐ /ŶƚĞƌĐĂƌƌĞŝƌĂƐͬ dĞŵƉŽ /ŶĚĞƚĞƌŵŝŶĂĚŽ KƌŐĂŶŝƐŵŽƐ ĂƚĞŐŽƌŝĂƐ

EǑ ĚĞ ƉŽƐƚŽƐ ĚĞ ƚƌĂďĂůŚŽ ƉŽƌ ŽĐƵƉĂƌ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

[ 75 ]

DŽƚŽƌŝƐƚĂ ĚĞ WĞƐĂĚŽƐ

ϵ

ϴ

ϳ

DŽƚŽƌŝƐƚĂ ĚĞ dƌĂŶƐƉŽƌƚĞƐ ŽůĞƚŝǀŽƐ

Ϯ

ϭ

ϭ

ϭ

DƵƐĞŽŐƌĂĨŝĂ KƉĞƌĂĚŽƌ ĚĞ ƐƚĂĕƁĞƐ ůĞǀĂƚſƌŝĂƐ ĚĞ dƌĂƚĂŵĞŶƚŽ ŽƵ ĞƉƵƌĂĚŽƌĂƐ

Ϯ

ϭ

ϭ

ϭ

ϯ

ϯ

ϯ

WĂƌƋƵĞƐ Ğ /ŶƐƚĂůĂĕƁĞƐ

ϲ

ϱ

ϱ

ϭ

WĞĚƌĞŝƌŽ

ϭϭ

ϴ

ϴ

ϯ

WŝŶƚŽƌ

ϰ

ϯ

ϯ

ϭ

^ĞƌƌĂůŚĞŝƌŽ DĞĐąŶŝĐŽ

Ϯ

Ϯ

Ϯ

^ŽŶŽƉůĂƐƚĂ

Ϯ

Ϯ

Ϯ

dĞůĞĨŽŶŝƐƚĂ

ϭ

ϭ

ϭ

ϯϯ

ϭϵ

ϵ

ŽŵďĞŝƌŽƐ DƵŶŝĐŝƉĂŝƐ ŚĞĨĞ

ŽŵďĞŝƌŽ DƵŶŝĐŝƉĂů

ϭ

ϭ

^ƵďĐŚĞĨĞ

ŽŵďĞŝƌŽ DƵŶŝĐŝƉĂů

Ϯ

Ϯ

ϭ

ŽŵďĞŝƌŽ ĚĞ ϭǐ ůĂƐƐĞ

ŽŵďĞŝƌŽ DƵŶŝĐŝƉĂů

ϳ

ϳ

ϱ

ŽŵďĞŝƌŽ ĚĞ Ϯǐ ůĂƐƐĞ

ŽŵďĞŝƌŽ DƵŶŝĐŝƉĂů

ϯ

ϯ

ŽŵďĞŝƌŽ ĚĞ ϯǐ ůĂƐƐĞ

ŽŵďĞŝƌŽ DƵŶŝĐŝƉĂů

ϮϬ

ϲ

ϯ

ϱ

ϰ

ϰ

&ŝƐĐĂů DƵŶŝĐŝƉĂů

ϭ

ϭϬ

ϭϰ

ϭ ϭ Ϯ ϯ

ƐƉĞĐŝĂůŝƐƚĂ WƌŝŶĐŝƉĂů

&ŝƐĐĂů DƵŶŝĐŝƉĂů

ϭ

ϭ

ϭ

ƐƉĞĐŝĂůŝƐƚĂ

&ŝƐĐĂů DƵŶŝĐŝƉĂů

ϭ

ϭ

ϭ

ϭǐ ůĂƐƐĞ

&ŝƐĐĂů DƵŶŝĐŝƉĂů

Ϯ

Ϯ

Ϯ

Ϯǐ ůĂƐƐĞ

&ŝƐĐĂů DƵŶŝĐŝƉĂů

ϭ

WƌĂĕĂ ĚĂ ZĞƉƷďůŝĐĂ ͼ dĞů͘ Ϯϰϵ ϯϮϵ ϴϴϱ ͼ &Ădž Ϯϰϵ ϯϮϵ ϴϬϵ ͼ ͲŵĂŝů͗ ƉƌĞƐŝĚĞŶĐŝĂΛĐŵͲƚŽŵĂƌ͘Ɖƚ ͼ ϮϯϬϬͲϱϱϬ dŽŵĂƌ WĞƐƐŽĂ ŽůĞƚŝǀĂ Ŷ͘Ǒ ϱϬϲ ϳϯϴ ϵϭϰ

ϭ

ϯ

ϭϰ

ϭ

ϭ

D W W ^^K > Ͳ ϮϬϭϳ

D Z DhE/ /W > dKD Z

;ŶŽƐ ƚĞƌŵŽƐ ĚĂ >Ğŝ 'ĞƌĂů ĚŽ dƌĂďĂůŚŽ Ğŵ &ƵŶĕƁĞƐ WƷďůŝĐĂƐ͕ ĂƉƌŽǀĂĚĂ Ğŵ ĂŶĞdžŽ ă >Ğŝ Ŷ͘Ǒ ϯϱͬϮϬϭϰ ĚĞ ϮϬ ĚĞ ũƵŶŚŽͿ

ĂƌŐŽͬ ĂƌƌĞŝƌĂͬ ĂƚĞŐŽƌŝĂ

dŽƚĂů ĚĞ ƉŽƐƚŽƐ dŽƚĂů ĚĞ ƉŽƐƚŽƐ ĚĞ ƚƌĂďĂůŚŽ ĚĞ ƚƌĂďĂůŚŽ KĐƵƉĂĚŽƐ Ğ ƉŽƌ KĐƵƉĂĚŽƐ ŽĐƵƉĂƌ

ƚŝǀŝĚĂĚĞ

/ŶĨŽƌŵĄƚŝĐĂ ŽŽƌĚĞŶĂĚŽƌ

ϴ

ϲ

ϭ

ϭ

KĐƵƉĂĚŽƐ ŽŵŝƐƐĆŽ ĚĞ ^ĞƌǀŝĕŽ

DŽďŝůŝĚĂĚĞ DŽďŝůŝĚĂĚĞ ŽŶƚƌĂƚŽ ƉŽƌ /ŶƚĞƌŶĂ ĚĞ KƵƚƌŽƐ /ŶƚĞƌĐĂƌƌĞŝƌĂƐͬ dĞŵƉŽ /ŶĚĞƚĞƌŵŝŶĂĚŽ KƌŐĂŶŝƐŵŽƐ ĂƚĞŐŽƌŝĂƐ

ϱ

ϭ

EǑ ĚĞ ƉŽƐƚŽƐ ĚĞ ƚƌĂďĂůŚŽ ƉŽƌ ŽĐƵƉĂƌ

Ϯ

ϭ

ƐƉĞĐŝĂůŝƐƚĂ ĚĞ /ŶĨŽƌŵĄƚŝĐĂ 'ƌĂƵ ϭ EşǀĞů Ϯ

ƐƉĞĐŝĂůŝƐƚĂ ĚĞ /ŶĨŽƌŵĄƚŝĐĂ

ϭ

ϭ

ϭ

dĠĐŶŝĐŽ ĚĞ /ŶĨŽƌŵĄƚŝĐĂ 'ƌĂƵ Ϯ EşǀĞů Ϯ

dĠĐŶŝĐŽ ĚĞ /ŶĨŽƌŵĄƚŝĐĂ

Ϯ

Ϯ

Ϯ

dĠĐŶŝĐŽ ĚĞ /ŶĨŽƌŵĄƚŝĐĂ 'ƌĂƵ ϭ EşǀĞů ϯ

dĠĐŶŝĐŽ ĚĞ /ŶĨŽƌŵĄƚŝĐĂ

ϭ

ϭ

ϭ

dĠĐŶŝĐŽ ĚĞ /ŶĨŽƌŵĄƚŝĐĂ 'ƌĂƵ ϭ EşǀĞů ϭ

dĠĐŶŝĐŽ ĚĞ /ŶĨŽƌŵĄƚŝĐĂ

ϯ

ϭ

ϭ

ϭ

ϭ

ϭ

ϭ

ϭ

ϭ

Ϯ

Ϯ

Ϯ

Ϯ

Ϯ

Ϯ

Ϯ

ƐƚĂďĞůĞĐŝŵĞŶƚŽƐ ĚĞ ŶƐŝŶŽ

[ 76 ]

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ WƐŝĐŽůŽŐŝĂ ŚĞĨĞ ĚĞ ^ĞƌǀŝĕŽƐ ĚĞ ĚŵŝŶŝƐƚƌĂĕĆŽ ƐĐŽůĂƌ ŚĞĨĞ ĚĞ ^ĞƌǀŝĕŽƐ ĚĞ ĚŵŝŶŝƐƚƌĂĕĆŽ ƐĐŽůĂƌ

Ϯϱ

Ϯϱ

Ϯϱ

ƌĞĂ ĚŵŝŶŝƐƚƌĂƚŝǀĂ

Ϯϰ

Ϯϰ

Ϯϰ

ŝďůŝŽƚĞĐĂ Ğ ŽĐƵŵĞŶƚĂĕĆŽ

ϭ

ϭ

ϭ

ƐƐŝƐƚĞŶƚĞ dĠĐŶŝĐŽ

ϭϭϳ

ϭϭϬ

ϭϭϬ

ϳ

ƌĞĂ ĚĞ ĚƵĐĂĕĆŽ

ϭϭϱ

ϭϬϴ

ϭϬϴ

ϳ

'ƵĂƌĚĂ EŽƚƵƌŶŽ

ϭ

ϭ

ϭ

ϭ ϱϲϳ

ϭ ϱϬϭ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

DĂŶƵƚĞŶĕĆŽ

dŽƚĂů

ϵ

WƌĂĕĂ ĚĂ ZĞƉƷďůŝĐĂ ͼ dĞů͘ Ϯϰϵ ϯϮϵ ϴϴϱ ͼ &Ădž Ϯϰϵ ϯϮϵ ϴϬϵ ͼ ͲŵĂŝů͗ ƉƌĞƐŝĚĞŶĐŝĂΛĐŵͲƚŽŵĂƌ͘Ɖƚ ͼ ϮϯϬϬͲϱϱϬ dŽŵĂƌ WĞƐƐŽĂ ŽůĞƚŝǀĂ Ŷ͘Ǒ ϱϬϲ ϳϯϴ ϵϭϰ

ϭ ϰϱϯ

ϱ

ϯϮ

ϲϲ

ŶĞdžŽ ĂŽ DĂƉĂ ĚĞ WĞƐƐŽĂů Ͳ ϮϬϭϳ D Z DhE/ /W > dKD Z ĂƌŐŽ ͬ ĂƌƌĞŝƌĂ ͬ ĂƚĞŐŽƌŝĂ

ƚƌŝďƵŝĕĆŽ ͬ ŽŵƉĞƚġŶĐŝĂƐ

&ŽƌŵĂĕĆŽ ĐĂĚĠŵŝĐĂ

[ 77 ]

ŝƌĞƚŽƌ ĚĞ ĞƉĂƌƚĂŵĞŶƚŽ ĚĞ ŝƌĞĕĆŽ Ͳ ŝƌŝŐĞ͕ ĐŽŽƌĚĞŶĂ Ğ ĐŽŶƚƌŽůĂ ŽƐ ƐĞƌǀŝĕŽƐ ŶĂ ĚĞƉĞŶĚġŶĐŝĂ ĚŽ ĚĞƉĂƌƚĂŵĞŶƚŽ͕ ďĞŵ ĐŽŵŽ ĂƐ ĂƚŝǀŝĚĂĚĞƐ ŶĞůĞ ĚĞƐĞŶǀŽůǀŝĚĂƐ͕ ƚĞŶĚŽ Ğŵ ĐŽŶƚĂ ĂƐ ; ŝƌĞĕĆŽ ŝŶƚĞƌŵĠĚŝĂ ĚĞ ϭǐ ŐƌĂƵͿ ĂƚƌŝďƵŝĕƁĞƐ ĐŽŵĞƚŝĚĂƐ ă ƌĞƐƉĞƚŝǀĂ ƵŶŝĚĂĚĞ ŽƌŐąŶŝĐĂ͕ ĚĞ ĨŽƌŵĂ Ă ŐĂƌĂŶƚŝƌ Ă ƋƵĂůŝĚĂĚĞ ĚŽƐ ƐĞƌǀŝĕŽƐ ƉƌĞƐƚĂĚŽƐ Ğ Ă ŽƚŝŵŝnjĂĕĆŽ ĚŽƐ ƌĞĐƵƌƐŽƐ͘

ŶŐĞŶŚĂƌŝĂ ŝǀŝů

ĚĞ ŝƌĞĕĆŽ Ͳ ŝƌŝŐĞ͕ ĐŽŽƌĚĞŶĂ Ğ ĐŽŶƚƌŽůĂ ŽƐ ƐĞƌǀŝĕŽƐ ŶĂ ĚĞƉĞŶĚġŶĐŝĂ ĚĂ ĚŝǀŝƐĆŽ͕ ďĞŵ ĐŽŵŽ ĂƐ ĂƚŝǀŝĚĂĚĞƐ ŶĞůĂ ĚĞƐĞŶǀŽůǀŝĚĂƐ͕ ƚĞŶĚŽ Ğŵ ĐŽŶƚĂ ĂƐ ĂƚƌŝďƵŝĕƁĞƐ ŚĞĨĞ ĚĞ ŝǀŝƐĆŽ ; ŝƌĞĕĆŽ ŝŶƚĞƌŵĠĚŝĂ ĚĞ Ϯǐ ŐƌĂƵͿ ĐŽŵĞƚŝĚĂƐ ă ƌĞƐƉĞƚŝǀĂ ƵŶŝĚĂĚĞ ŽƌŐąŶŝĐĂ͕ ĚĞ ĨŽƌŵĂ Ă ŐĂƌĂŶƚŝƌ Ă ƋƵĂůŝĚĂĚĞ ĚŽƐ ƐĞƌǀŝĕŽƐ ƉƌĞƐƚĂĚŽƐ Ğ Ă ŽƚŝŵŝnjĂĕĆŽ ĚŽƐ ƌĞĐƵƌƐŽƐ͘

ĚŵŝŶŝƐƚƌĂĕĆŽ WƷďůŝĐĂ ͬ ƌƋƵŝƚĞƚƵƌĂ ͬ ŝġŶĐŝĂƐ ^ŽĐŝĂŝƐ ͬ ŶŐĞŶŚĂƌŝĂ DĞĐąŶŝĐĂ ͬ 'ĞƐƚĆŽ ĚĞ ŵƉƌĞƐĂƐ ͬ dŽĚĂƐ ĂƐ ĄƌĞĂƐ ĚĞ ĨŽƌŵĂĕĆŽ ĐŽŵ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğŵ ŽŵďĞŝƌŽƐ Ğ WƌŽƚĞĕĆŽ ŝǀŝů

ĚĞ ŝƌĞĕĆŽ͘ Ͳ ŽŽƌĚĞŶĂ Ğ ĐŽŶƚƌŽůĂ ŽƐ ƐĞƌǀŝĕŽƐ ŶĂ ĚĞƉĞŶĚġŶĐŝĂ ĚĂ ƵŶŝĚĂĚĞ ŽƌŐąŶŝĐĂ͕ ďĞŵ ĐŽŵŽ ĂƐ ĂƚŝǀŝĚĂĚĞƐ ŶĞůĂ ĚĞƐĞŶǀŽůǀŝĚĂƐ͕ ƚĞŶĚŽ Ğŵ ĐŽŶƚĂ ĂƐ ŚĞĨĞ ĚĞ hŶŝĚĂĚĞ ; ŝƌĞĕĆŽ ŝŶƚĞƌŵĠĚŝĂ ĚĞ ϯǐ ŐƌĂƵͿ ĂƚƌŝďƵŝĕƁĞƐ ĐŽŵĞƚŝĚĂƐ ă ƌĞƐƉĞƚŝǀĂ ƵŶŝĚĂĚĞ ŽƌŐąŶŝĐĂ͕ ĚĞ ĨŽƌŵĂ Ă ŐĂƌĂŶƚŝƌ Ă ƋƵĂůŝĚĂĚĞ ĚŽƐ ƐĞƌǀŝĕŽƐ ƉƌĞƐƚĂĚŽƐ Ğ Ă ŽƚŝŵŝnjĂĕĆŽ ĚŽƐ ƌĞĐƵƌƐŽƐ

ĞƐƉŽƌƚŽͬ ĚƵĐĂĕĆŽ͕ ĕĆŽ ^ŽĐŝĂů Ğ ^ĞƌǀŝĕŽ ^ŽĐŝĂů

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ĚŵŝŶŝƐƚƌĂĕĆŽ WƷďůŝĐĂ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĚŵŝŶŝƐƚƌĂĕĆŽ WƷďůŝĐĂ ŽƵ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͖ ĞůĂďŽƌĂ͕ ĂƵƚŽŶŽŵĂŵĞŶƚĞ ŽƵ Ğŵ ŐƌƵƉŽ͕ ƉĂƌĞĐĞƌĞƐ Ğ ƉƌŽũĞƚŽƐ ĐŽŵ ƵƚĄƌƋƵŝĐĂ ĚŝǀĞƌƐŽƐ ŐƌĂƵƐ ĚĞ ĐŽŵƉůĞdžŝĚĂĚĞ Ğ ĞdžĞĐƵƚĂ ŽƵƚƌĂƐ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĂƉŽŝŽ ŐĞƌĂů ŽƵ ĞƐƉĞĐŝĂůŝnjĂĚŽ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ͕ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŽƉĞƌĂƚŝǀĂƐ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͘

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ŶŝŵĂĕĆŽ ^ſĐŝŽ ƵůƚƵƌĂů Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ 'ĞƐƚĆŽ dƵƌşƐƚŝĐĂ ŽƵ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͖ ĞůĂďŽƌĂ͕ ĂƵƚŽŶŽŵĂŵĞŶƚĞ ŽƵ Ğŵ ŐƌƵƉŽ͕ ƉĂƌĞĐĞƌĞƐ Ğ ƉƌŽũĞƚŽƐ ĐŽŵ ƵůƚƵƌĂů ͬ ŝġŶĐŝĂƐ ^ŽĐŝĂŝƐ ĚŝǀĞƌƐŽƐ ŐƌĂƵƐ ĚĞ ĐŽŵƉůĞdžŝĚĂĚĞ͖ ĞdžĞĐƵƚĂ ŽƵƚƌĂƐ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĂƉŽŝŽ ŐĞƌĂů ŽƵ ĞƐƉĞĐŝĂůŝnjĂĚŽ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ͕ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŽƉĞƌĂƚŝǀĂƐ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͘

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ƉŽŝŽ ĂŽ ŽŶƐƵŵŝĚŽƌ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͖ ĞůĂďŽƌĂ͕ ĂƵƚŽŶŽŵĂŵĞŶƚĞ ŽƵ Ğŵ ŐƌƵƉŽ͕ ƉĂƌĞĐĞƌĞƐ Ğ ƉƌŽũĞƚŽƐ ĐŽŵ ĚŝǀĞƌƐŽƐ ŐƌĂƵƐ ĚĞ ĐŽŵƉůĞdžŝĚĂĚĞ͖ ĞdžĞĐƵƚĂ ŽƵƚƌĂƐ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĂƉŽŝŽ ŐĞƌĂů ŽƵ ĞƐƉĞĐŝĂůŝnjĂĚŽ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ͕ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŽƉĞƌĂƚŝǀĂƐ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͘

WƌĂĕĂ ĚĂ ZĞƉƷďůŝĐĂ ͼ dĞů͘ Ϯϰϵ ϯϮϵ ϴϴϱ ͼ &Ădž Ϯϰϵ ϯϮϵ ϴϬϵ ͼ ͲŵĂŝů͗ ƉƌĞƐŝĚĞŶĐŝĂΛĐŵͲƚŽŵĂƌ͘Ɖƚ ͼ ϮϯϬϬͲϱϱϬ dŽŵĂƌ

ĚŵŝŶŝƐƚƌĂĕĆŽ WƷďůŝĐĂ ͬ ƵƚĄƌƋƵŝĐĂ ŽƵ ŝƌĞŝƚŽ

ŶĞdžŽ ĂŽ DĂƉĂ ĚĞ WĞƐƐŽĂů Ͳ ϮϬϭϳ D Z DhE/ /W > dKD Z

ĂƌŐŽ ͬ ĂƌƌĞŝƌĂ ͬ ĂƚĞŐŽƌŝĂ

ƚƌŝďƵŝĕĆŽ ͬ ŽŵƉĞƚġŶĐŝĂƐ

&ŽƌŵĂĕĆŽ ĐĂĚĠŵŝĐĂ

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ƌƋƵŝƚĞƚƵƌĂ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͖ Ğŵ ǀŝƌƚƵĚĞ ĚĞ ƐĞƌ ĚĞƚĞŶƚŽƌ ĚĂ ƋƵĂůŝĚĂĚĞ ĚĞ ŵĞŵďƌŽ ĞĨĞƚŝǀŽ ĚĂ ƌĞƐƉĞƚŝǀĂ ŽƌĚĞŵ ƉƌŽĨŝƐƐŝŽŶĂů ůĞŐĂůŵĞŶƚĞ ĂƉƌŽǀĂĚĂ͕ ƉŽĚĞ ĞdžĞĐƵƚĂƌ ĂƐ ƚĂƌĞĨĂƐ Ğ ĞdžĞƌĐĞƌ ĂƐ ĨƵŶĕƁĞƐ ƋƵĞ ƐĞũĂŵ ƉĞƌŵŝƚŝĚĂƐ ƉĞůŽ ŶŽƌŵĂƚŝǀŽ ĞƐƚĂƚƵƚĄƌŝŽ ĞͬŽƵ ĠƚŝĐŽ Ğŵ ǀŝŐŽƌ ŶĂ ŵĞƐŵĂ͘

ƌƋƵŝƚĞƚƵƌĂ

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ƌƋƵŝǀŽ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͕ ŝŶĐƵŵďŝŶĚŽ͕ ŐĞŶĞƌŝĐĂŵĞŶƚĞ͗ ĞƐƚĂďĞůĞĐĞƌ Ğ ĂƉůŝĐĂƌ ĐƌŝƚĠƌŝŽƐ ĚĞ ŐĞƐƚĆŽ ĚĞ ĚŽĐƵŵĞŶƚŽƐ͖ ĂǀĂůŝĂƌ Ğ ŽƌŐĂŶŝnjĂƌ Ă ĚŽĐƵŵĞŶƚĂĕĆŽ ĚĞ ĨƵŶĚŽƐ ƉƷďůŝĐŽƐ Ğ ƉƌŝǀĂĚŽƐ ĐŽŵ ŝŶƚĞƌĞƐƐĞ ĂĚŵŝŶŝƐƚƌĂƚŝǀŽ͕ ƉƌŽďĂƚſƌŝŽ Ğ ĐƵůƚƵƌĂů͖ ŽƌŝĞŶƚĂƌ Ă ĞůĂďŽƌĂĕĆŽ ĚĞ ŝŶƐƚƌƵŵĞŶƚŽƐ ĚĞ ĚĞƐĐƌŝĕĆŽ ĚĂ ĚŽĐƵŵĞŶƚĂĕĆŽ͖ ĂƉŽŝĂƌ Ž ƵƚŝůŝnjĂĚŽƌ͕ ŽƌŝĞŶƚĂŶĚŽ ŶĂ ƉĞƐƋƵŝƐĂ ĚĞ ƌĞŐŝƐƚŽƐ Ğ ĚŽĐƵŵĞŶƚŽƐ ĂƉƌŽƉƌŝĂĚŽƐ͖ ƉƌŽŵŽǀĞƌ ĂĕƁĞƐ ĚĞ ĚŝĨƵƐĆŽ͕ Ă Ĩŝŵ ĚĞ ƚŽƌŶĂƌ ĂĐĞƐƐşǀĞŝƐ ĂƐ ĨŽŶƚĞƐ͖ ƐƵƉĞƌǀŝƐŝŽŶĂƌ Ž ƉĞƐƐŽĂů ĂĨĞƚŽ ă ĨƵŶĕĆŽ ĚĞ ĂƉŽŝŽ ƚĠĐŶŝĐŽ ĚĞ ĂƌƋƵŝǀŝƐƚĂ͖ ĞdžĞĐƵƚĂƌ ŽƵƚƌĂƐ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĂƉŽŝŽ ŐĞƌĂů ŽƵ ĞƐƉĞĐŝĂůŝnjĂĚŽ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ͕ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŽƉĞƌĂƚŝǀĂƐ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͘

ƵƌƐŽ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ ŶĂ ĄƌĞĂ ĚŽ ƌƋƵŝǀŽ

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ƌƋƵĞŽůŽŐŝĂ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͖ ĞůĂďŽƌĂ͕ ĂƵƚŽŶŽŵĂŵĞŶƚĞ ŽƵ Ğŵ ŐƌƵƉŽ͕ ƉĂƌĞĐĞƌĞƐ Ğ ƉƌŽũĞƚŽƐ ĐŽŵ ĚŝǀĞƌƐŽƐ ŐƌĂƵƐ ĚĞ ĐŽŵƉůĞdžŝĚĂĚĞ Ğ ĞdžĞĐƵƚĂ ŽƵƚƌĂƐ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĂƉŽŝŽ ŐĞƌĂů ŽƵ ĞƐƉĞĐŝĂůŝnjĂĚŽ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ͕ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŽƉĞƌĂƚŝǀĂƐ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͕ ĂĐŽŵƉĂŶŚĂŶĚŽ ƚƌĂďĂůŚŽƐ ĚĞ ůĞǀĂŶƚĂŵĞŶƚŽ ĂƌƋƵĞŽůſŐŝĐŽ ŝŶĞƌĞŶƚĞƐ ăƐ ŽďƌĂƐ ƉƷďůŝĐĂƐ Ğ ƉƌŝǀĂĚĂƐ͕ ĐŽŵ ŝŵƉĂĐƚŽ ƉƷďůŝĐŽ͕ ƋƵĂŶĚŽ ƐƵƉĞƌŝŽƌŵĞŶƚĞ ĚĞƚĞƌŵŝŶĂĚŽ͘

ƌƋƵĞŽůŽŐŝĂ

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ƐƐŝƐƚġŶĐŝĂ Ğ ^ĞƌǀŝĕŽ ^ŽĐŝĂů Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͖ ĞůĂďŽƌĂ͕ ĂƵƚŽŶŽŵĂŵĞŶƚĞ ŽƵ Ğŵ ŐƌƵƉŽ͕ ƉĂƌĞĐĞƌĞƐ Ğ ƉƌŽũĞƚŽƐ ĐŽŵ ĚŝǀĞƌƐŽƐ ŐƌĂƵƐ ĚĞ ĐŽŵƉůĞdžŝĚĂĚĞ͖ ĞdžĞĐƵƚĂ ŽƵƚƌĂƐ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĂƉŽŝŽ ŐĞƌĂů ŽƵ ĞƐƉĞĐŝĂůŝnjĂĚŽ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ͕ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŽƉĞƌĂƚŝǀĂƐ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͘

ŝġŶĐŝĂƐ ^ŽĐŝĂŝƐ

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ŝďůŝŽƚĞĐĂ Ğ ŽĐƵŵĞŶƚĂĕĆŽ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͕ ŝŶĐƵŵďŝŶĚŽ͕ ŐĞŶĞƌŝĐĂŵĞŶƚĞ͗ ĞƐƚĂďĞůĞĐĞƌ Ğ ĂƉůŝĐĂƌ ĐƌŝƚĠƌŝŽƐ ĚĞ ŽƌŐĂŶŝnjĂĕĆŽ Ğ ĨƵŶĐŝŽŶĂŵĞŶƚŽ ĚŽƐ ƐĞƌǀŝĕŽƐ͖ ƐĞůĞĐŝŽŶĂƌ͕ ĐůĂƐƐŝĨŝĐĂƌ Ğ ŝŶĚĞdžĂƌ ĚŽĐƵŵĞŶƚŽƐ ƐŽď Ă ĨŽƌŵĂ ƚĞdžƚƵĂů͕ ƐŽŶŽƌĂ͕ ǀŝƐƵĂů ŽƵ ŽƵƚƌĂ͕ ĚĞƐĞŶǀŽůǀĞŶĚŽ Ğ ĂĚŽƚĂŶĚŽ ƐŝƐƚĞŵĂƐ ĚĞ ƚƌĂƚĂŵĞŶƚŽ ĂƵƚŽŵĄƚŝĐŽ ŽƵ ŵĂŶƵĂů͖ ĚĞĨŝŶŝƌ ƉƌŽĐĞĚŝŵĞŶƚŽƐ ĚĞ ƌĞĐƵƉĞƌĂĕĆŽ Ğ ĞdžƉůŽƌĂĕĆŽ ĚĞ ŝŶĨŽƌŵĂĕĆŽ͖ ĂƉŽŝĂƌ Ğ ŽƌŝĞŶƚĂƌ Ž ƵƚŝůŝnjĂĚŽƌ ĚŽƐ ƐĞƌǀŝĕŽƐ͖ ƉƌŽŵŽǀĞƌ ĂĕƁĞƐ ĚĞ ĚŝĨƵƐĆŽ͕ Ă Ĩŝŵ ĚĞ ƚŽƌŶĂƌ ĂĐĞƐƐşǀĞŝƐ ĂƐ ĨŽŶƚĞƐ ĚĞ ŝŶĨŽƌŵĂĕĆŽ ƉƌŝŵĄƌŝĂ͕ ƐĞĐƵŶĚĄƌŝĂ Ğ ƚĞƌĐŝĄƌŝĂ͖ ĐŽŽƌĚĞŶĂƌ Ğ ƐƵƉĞƌǀŝƐŝŽŶĂƌ ŽƐ ƌĞĐƵƌƐŽƐ ŚƵŵĂŶŽƐ Ğ ŵĂƚĞƌŝĂŝƐ ŶĞĐĞƐƐĄƌŝŽƐ ăƐ ĂƚŝǀŝĚĂĚĞƐ Ă ĚĞƐĞŶǀŽůǀĞƌ Ğ ƉƌŽĐĞĚĞƌ ă ĂǀĂůŝĂĕĆŽ ĚŽƐ ƌĞƐƵůƚĂĚŽƐ͘

ƵƌƐŽ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ ŶĂ ĄƌĞĂ ĚĞ ŝďůŝŽƚĞĐĂ Ğ ŽĐƵŵĞŶƚĂĕĆŽ

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dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ƌĞĂ ĚŵŝŶŝƐƚƌĂƚŝǀĂ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͖ ĞůĂďŽƌĂ͕ ĂƵƚŽŶŽŵĂŵĞŶƚĞ ŽƵ Ğŵ ŐƌƵƉŽ͕ ƉĂƌĞĐĞƌĞƐ Ğ ƉƌŽũĞƚŽƐ ĐŽŵ ĚŝǀĞƌƐŽƐ ŐƌĂƵƐ ĚĞ ĐŽŵƉůĞdžŝĚĂĚĞ Ğ ĞdžĞĐƵƚĂ ŽƵƚƌĂƐ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĂƉŽŝŽ ŐĞƌĂů ŽƵ ĞƐƉĞĐŝĂůŝnjĂĚŽ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ͕ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŽƉĞƌĂƚŝǀĂƐ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͘

WƌĂĕĂ ĚĂ ZĞƉƷďůŝĐĂ ͼ dĞů͘ Ϯϰϵ ϯϮϵ ϴϴϱ ͼ &Ădž Ϯϰϵ ϯϮϵ ϴϬϵ ͼ ͲŵĂŝů͗ ƉƌĞƐŝĚĞŶĐŝĂΛĐŵͲƚŽŵĂƌ͘Ɖƚ ͼ ϮϯϬϬͲϱϱϬ dŽŵĂƌ WĞƐƐŽĂ ŽůĞƚŝǀĂ Ŷ͘Ǒ ϱϬϲ ϳϯϴ ϵϭϰ

ŶĞdžŽ ĂŽ DĂƉĂ ĚĞ WĞƐƐŽĂů Ͳ ϮϬϭϳ D Z DhE/ /W > dKD Z ĂƌŐŽ ͬ ĂƌƌĞŝƌĂ ͬ ĂƚĞŐŽƌŝĂ

ƚƌŝďƵŝĕĆŽ ͬ ŽŵƉĞƚġŶĐŝĂƐ

&ŽƌŵĂĕĆŽ ĐĂĚĠŵŝĐĂ

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ŽŶƐĞƌǀĂĕĆŽ Ğ ZĞƐƚĂƵƌŽ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͕ ŝŶĐƵŵďŝŶĚŽ͕ ŐĞŶĞƌŝĐĂŵĞŶƚĞ͗ ĐŽůĂďŽƌĂƌ ŶŽ ƉůĂŶĞĂŵĞŶƚŽ͕ ĐŽŶĐĞĕĆŽ Ğ ŵĞůŚŽƌŝĂ ĚŽ ƐĞƌǀŝĕŽ ĚĞ ĐŽŶƐĞƌǀĂĕĆŽ Ğ ƌĞƐƚĂƵƌŽ͖ ĞƐƚƵĚĂƌ Ğ ĂƉůŝĐĂƌ ŶŽǀŽƐ ŵĠƚŽĚŽƐ Ğ ƚĞĐŶŽůŽŐŝĂƐ ŶĂ ĄƌĞĂ ĚĞ ĐŽŶƐĞƌǀĂĕĆŽ Ğ ƌĞƐƚĂƵƌŽ͖ ƉƌŽĐĞĚĞƌ ĂŽ ĞƐƚƵĚŽ ĚĂ ŽŶƐĞƌǀĂĕĆŽ Ğ ZĞƐƚĂƵƌŽ ͬ ƌƚĞƐ ĞĐŽƌĂƚŝǀĂƐ ĂƉůŝĐĂĕĆŽ ĚĂƐ ƚĠĐŶŝĐĂƐ ĚĞ ƌĞƉƌŽĚƵĕĆŽ ĚĞ ƉĞĕĂƐ ĚŽ ƉĂƚƌŝŵſŶŝŽ ŵſǀĞů ŽƵ ŝŵſǀĞů͖ ĂŶĂůŝƐĂƌ Ž ĞƐƚĂĚŽ ĚĞ ĚĞŐƌĂĚĂĕĆŽ ĚĂƐ ƉĞĕĂƐ͕ ĚŝĂŐŶŽƐƚŝĐĂŶĚŽ ĂƐ ƐƵĂƐ ĐĂƵƐĂƐ Ğ ĚĞĐŝĚŝŶĚŽ Ž ƚŝƉŽ ĚĞ ŝŶƚĞƌǀĞŶĕĆŽ ĂĚĞƋƵĂĚĂ͖ ƌĞĂůŝnjĂƌ ƚƌĂďĂůŚŽƐ ĚĞ ƐƵƉĞƌŝŽƌ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ ŶĂ ĄƌĞĂ ĚĞ ĐŽŶƐĞƌǀĂĕĆŽ Ğ ƌĞƐƚĂƵƌŽ͖ ƉƌŽĐĞĚĞƌ ă ŽƌŝĞŶƚĂĕĆŽ ƚĠĐŶŝĐĂ ĚĞ ŽƵƚƌŽ ƉĞƐƐŽĂů ĚĞ ĐŽŶƐĞƌǀĂĕĆŽ Ğ ƌĞƐƚĂƵƌŽ͖ ĐŽŽƉĞƌĂƌ ŶĂ ƐĞŶƐŝďŝůŝnjĂĕĆŽ Ğ ĚŝĨƵƐĆŽ ĚĂ ĐŽŽƉĞƌĂƌ ŶĂ ƐĞŶƐŝďŝůŝnjĂĕĆŽ Ğ ĚŝĨƵƐĆŽ ĚĂƐ ƚĠĐŶŝĐĂƐ ĚĞ ĐŽŶƐĞƌǀĂĕĆŽ ĚĞ ƉĞĕĂƐ͘

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ŽŶƚĂďŝůŝĚĂĚĞ Ğ ĚŵŝŶŝƐƚƌĂĕĆŽ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͖ ĞůĂďŽƌĂ͕ ĂƵƚŽŶŽŵĂŵĞŶƚĞ ŽƵ Ğŵ ŐƌƵƉŽ͕ ƉĂƌĞĐĞƌĞƐ Ğ ƉƌŽũĞƚŽƐ ĐŽŵ ĚŝǀĞƌƐŽƐ ŐƌĂƵƐ ĚĞ ĐŽŵƉůĞdžŝĚĂĚĞ Ğ ĞdžĞĐƵƚĂ ŽƵƚƌĂƐ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĂƉŽŝŽ ŐĞƌĂů ŽƵ ĞƐƉĞĐŝĂůŝnjĂĚŽ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ͕ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŽƉĞƌĂƚŝǀĂƐ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͘

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ĞƐŝŐŶ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͖ ĞůĂďŽƌĂ͕ ĂƵƚŽŶŽŵĂŵĞŶƚĞ ŽƵ Ğŵ ŐƌƵƉŽ͕ ƉĂƌĞĐĞƌĞƐ Ğ ƉƌŽũĞƚŽƐ ĐŽŵ ĚŝǀĞƌƐŽƐ ŐƌĂƵƐ ĚĞ ĐŽŵƉůĞdžŝĚĂĚĞ ĐŽŶĚƵĐĞŶƚĞƐ ă ĚĞĨŝŶŝĕĆŽ Ğ ĐŽŶĐƌĞƚŝnjĂĕĆŽ ĚĂƐ ƉŽůşƚŝĐĂƐ ĚŽ ŵƵŶŝĐşƉŝŽ ŶĂ ĄƌĞĂ ĚŽ ƚƵƌŝƐŵŽ͖ ĞdžĞĐƵƚĂ ŽƵƚƌĂƐ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĂƉŽŝŽ ŐĞƌĂů ŽƵ ĞƐƉĞĐŝĂůŝnjĂĚŽ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ͕ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŽƉĞƌĂƚŝǀĂƐ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͘

ĞƐŝŐŶ ŽƵ ƌƚĞƐ 'ƌĄĨŝĐĂƐ ŽƵ ƌƚĞƐ WůĄƐƚŝĐĂƐ

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ĞƐƉŽƌƚŽ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͖ ĞůĂďŽƌĂ͕ ĂƵƚŽŶŽŵĂŵĞŶƚĞ ŽƵ Ğŵ ŐƌƵƉŽ͕ ƉĂƌĞĐĞƌĞƐ Ğ ƉƌŽũĞƚŽƐ ĐŽŵ ĚŝǀĞƌƐŽƐ ŐƌĂƵƐ ĚĞ ĐŽŵƉůĞdžŝĚĂĚĞ Ğ ĞdžĞĐƵƚĂ ŽƵƚƌĂƐ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĂƉŽŝŽ ŐĞƌĂů ŽƵ ĞƐƉĞĐŝĂůŝnjĂĚŽ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ͕ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŽƉĞƌĂƚŝǀĂƐ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͘

ĚƵĐĂĕĆŽ &şƐŝĐĂ ŽƵ ĞƐƉŽƌƚŽ

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dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ŽŵƵŶŝĐĂĕĆŽ Ğ ZĞůĂĕƁĞƐ WƷďůŝĐĂƐ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ŽŵƵŶŝĐĂĕĆŽ ŽƵ ZĞůĂĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ WƷďůŝĐĂƐ ŽƵ ZĞůĂĕƁĞƐ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͖ ĞůĂďŽƌĂ͕ ĂƵƚŽŶŽŵĂŵĞŶƚĞ ŽƵ Ğŵ ŐƌƵƉŽ͕ ƉĂƌĞĐĞƌĞƐ Ğ ƉƌŽũĞƚŽƐ /ŶƚĞƌŶĂĐŝŽŶĂŝƐ ŽƵ ĐŽŵ ĚŝǀĞƌƐŽƐ ŐƌĂƵƐ ĚĞ ĐŽŵƉůĞdžŝĚĂĚĞ͖ ĞdžĞĐƵƚĂ ŽƵƚƌĂƐ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĂƉŽŝŽ ŐĞƌĂů ŽƵ ĞƐƉĞĐŝĂůŝnjĂĚŽ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ͕ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŽƉĞƌĂƚŝǀĂƐ WƵďůŝĐŝĚĂĚĞ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͘

WƌĂĕĂ ĚĂ ZĞƉƷďůŝĐĂ ͼ dĞů͘ Ϯϰϵ ϯϮϵ ϴϴϱ ͼ &Ădž Ϯϰϵ ϯϮϵ ϴϬϵ ͼ ͲŵĂŝů͗ ƉƌĞƐŝĚĞŶĐŝĂΛĐŵͲƚŽŵĂƌ͘Ɖƚ ͼ ϮϯϬϬͲϱϱϬ dŽŵĂƌ

ŶĞdžŽ ĂŽ DĂƉĂ ĚĞ WĞƐƐŽĂů Ͳ ϮϬϭϳ D Z DhE/ /W > dKD Z ĂƌŐŽ ͬ ĂƌƌĞŝƌĂ ͬ ĂƚĞŐŽƌŝĂ

ƚƌŝďƵŝĕĆŽ ͬ ŽŵƉĞƚġŶĐŝĂƐ

&ŽƌŵĂĕĆŽ ĐĂĚĠŵŝĐĂ

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dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ĐŽŶŽŵŝĂ Ğ 'ĞƐƚĆŽ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͖ ĞůĂďŽƌĂ͕ ĂƵƚŽŶŽŵĂŵĞŶƚĞ ŽƵ Ğŵ ŐƌƵƉŽ͕ ƉĂƌĞĐĞƌĞƐ Ğ ƉƌŽũĞƚŽƐ ĐŽŵ ĚŝǀĞƌƐŽƐ ŐƌĂƵƐ ĚĞ ĐŽŵƉůĞdžŝĚĂĚĞ Ğ ĞdžĞĐƵƚĂ ŽƵƚƌĂƐ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĂƉŽŝŽ ŐĞƌĂů ŽƵ ĞƐƉĞĐŝĂůŝnjĂĚŽ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ͕ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŽƉĞƌĂƚŝǀĂƐ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͘

ĐŽŶŽŵŝĂ ŽƵ 'ĞƐƚĆŽ ĚĞ ŵƉƌĞƐĂƐ

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ĚƵĐĂĕĆŽ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͖ ĞůĂďŽƌĂ͕ ĂƵƚŽŶŽŵĂŵĞŶƚĞ ŽƵ Ğŵ ŐƌƵƉŽ͕ ƉĂƌĞĐĞƌĞƐ Ğ ƉƌŽũĞƚŽƐ ĐŽŵ ĚŝǀĞƌƐŽƐ ŐƌĂƵƐ ĚĞ ĐŽŵƉůĞdžŝĚĂĚĞ Ğ ĞdžĞĐƵƚĂ ŽƵƚƌĂƐ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĂƉŽŝŽ ŐĞƌĂů ŽƵ ĞƐƉĞĐŝĂůŝnjĂĚŽ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ͕ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŽƉĞƌĂƚŝǀĂƐ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͘

ŝġŶĐŝĂƐ ĚĂ ĚƵĐĂĕĆŽ ŽƵ ĚƵĐĂĕĆŽ

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ŶŐĞŶŚĂƌŝĂ ŵďŝĞŶƚĂů Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ŶŐĞŶŚĂƌŝĂ ĚŽ ŵďŝĞŶƚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͖ ĞůĂďŽƌĂ͕ ĂƵƚŽŶŽŵĂŵĞŶƚĞ ŽƵ Ğŵ ŐƌƵƉŽ͕ ƉĂƌĞĐĞƌĞƐ Ğ ƉƌŽũĞƚŽƐ ĐŽŵ ŽƵ KƌĚĞŶĂŵĞŶƚŽ ĚŽƐ ĚŝǀĞƌƐŽƐ ŐƌĂƵƐ ĚĞ ĐŽŵƉůĞdžŝĚĂĚĞ͖ ĞdžĞĐƵƚĂ ŽƵƚƌĂƐ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĂƉŽŝŽ ŐĞƌĂů ŽƵ ĞƐƉĞĐŝĂůŝnjĂĚŽ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ͕ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŽƉĞƌĂƚŝǀĂƐ ĚŽƐ ZĞĐƵƌƐŽƐ EĂƚƵƌĂŝƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͘

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ŶŐĞŶŚĂƌŝĂ ŝǀŝů Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͖ Ğŵ ǀŝƌƚƵĚĞ ĚĞ ƐĞƌ ĚĞƚĞŶƚŽƌ ĚĂ ƋƵĂůŝĚĂĚĞ ĚĞ ŵĞŵďƌŽ ĞĨĞƚŝǀŽ ĚĂ ƌĞƐƉĞƚŝǀĂ ŽƌĚĞŵ ƉƌŽĨŝƐƐŝŽŶĂů ůĞŐĂůŵĞŶƚĞ ĂƉƌŽǀĂĚĂ͕ ƉŽĚĞ ĞdžĞĐƵƚĂƌ ĂƐ ƚĂƌĞĨĂƐ Ğ ĞdžĞƌĐĞƌ ĂƐ ĨƵŶĕƁĞƐ ƋƵĞ ƐĞũĂŵ ƉĞƌŵŝƚŝĚĂƐ ƉĞůŽ ŶŽƌŵĂƚŝǀŽ ĞƐƚĂƚƵƚĄƌŝŽ ĞͬŽƵ ĠƚŝĐŽ Ğŵ ǀŝŐŽƌ ŶĂ ŵĞƐŵĂ͘

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ŶŐĞŶŚĂƌŝĂ ůĞƚƌŽƚĠĐŶŝĐĂ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͖ Ğŵ ǀŝƌƚƵĚĞ ĚĞ ƐĞƌ ĚĞƚĞŶƚŽƌ ĚĂ ƋƵĂůŝĚĂĚĞ ĚĞ ŵĞŵďƌŽ ĞĨĞƚŝǀŽ ĚĂ ƌĞƐƉĞƚŝǀĂ ŶŐĞŶŚĂƌŝĂ ůĞƚƌŽƚĠĐŶŝĐĂ ŽƌĚĞŵ ƉƌŽĨŝƐƐŝŽŶĂů ůĞŐĂůŵĞŶƚĞ ĂƉƌŽǀĂĚĂ͕ ƉŽĚĞ ĞdžĞĐƵƚĂƌ ĂƐ ƚĂƌĞĨĂƐ Ğ ĞdžĞƌĐĞƌ ĂƐ ĨƵŶĕƁĞƐ ƋƵĞ ƐĞũĂŵ ƉĞƌŵŝƚŝĚĂƐ ƉĞůŽ ŶŽƌŵĂƚŝǀŽ ĞƐƚĂƚƵƚĄƌŝŽ ĞͬŽƵ ĠƚŝĐŽ Ğŵ ǀŝŐŽƌ ŶĂ ŵĞƐŵĂ͘

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ŶŐĞŶŚĂƌŝĂ &ůŽƌĞƐƚĂů Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͖ ĞůĂďŽƌĂ͕ ĂƵƚŽŶŽŵĂŵĞŶƚĞ ŽƵ Ğŵ ŐƌƵƉŽ͕ ƉĂƌĞĐĞƌĞƐ Ğ ƉƌŽũĞƚŽƐ ĐŽŵ ĚŝǀĞƌƐŽƐ ŐƌĂƵƐ ĚĞ ĐŽŵƉůĞdžŝĚĂĚĞ͖ ĞdžĞĐƵƚĂ ŽƵƚƌĂƐ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĂƉŽŝŽ ŐĞƌĂů ŽƵ ĞƐƉĞĐŝĂůŝnjĂĚŽ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ͕ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŽƉĞƌĂƚŝǀĂƐ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͘

WƌĂĕĂ ĚĂ ZĞƉƷďůŝĐĂ ͼ dĞů͘ Ϯϰϵ ϯϮϵ ϴϴϱ ͼ &Ădž Ϯϰϵ ϯϮϵ ϴϬϵ ͼ ͲŵĂŝů͗ ƉƌĞƐŝĚĞŶĐŝĂΛĐŵͲƚŽŵĂƌ͘Ɖƚ ͼ ϮϯϬϬͲϱϱϬ dŽŵĂƌ

ŶŐĞŶŚĂƌŝĂ ŝǀŝů

ŶŐĞŶŚĂƌŝĂ &ůŽƌĞƐƚĂů

ŶĞdžŽ ĂŽ DĂƉĂ ĚĞ WĞƐƐŽĂů Ͳ ϮϬϭϳ D Z DhE/ /W > dKD Z ĂƌŐŽ ͬ ĂƌƌĞŝƌĂ ͬ ĂƚĞŐŽƌŝĂ

ƚƌŝďƵŝĕĆŽ ͬ ŽŵƉĞƚġŶĐŝĂƐ

&ŽƌŵĂĕĆŽ ĐĂĚĠŵŝĐĂ

ŶŐĞŶŚĂƌŝĂ 'ĞŽŐƌĄĨŝĐĂ

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ŶŐĞŶŚĂƌŝĂ DĞĐąŶŝĐĂ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͖ Ğŵ ǀŝƌƚƵĚĞ ĚĞ ƐĞƌ ĚĞƚĞŶƚŽƌ ĚĂ ƋƵĂůŝĚĂĚĞ ĚĞ ŵĞŵďƌŽ ĞĨĞƚŝǀŽ ĚĂ ƌĞƐƉĞƚŝǀĂ ŽƌĚĞŵ ƉƌŽĨŝƐƐŝŽŶĂů ůĞŐĂůŵĞŶƚĞ ĂƉƌŽǀĂĚĂ͕ ƉŽĚĞ ĞdžĞĐƵƚĂƌ ĂƐ ƚĂƌĞĨĂƐ ŽƵ ĞdžĞƌĐĞƌ ĂƐ ĨƵŶĕƁĞƐ ƋƵĞ ƐĞ ĞŶĐŽŶƚƌĞŵ ƌĞƐĞƌǀĂĚĂƐ ƉĂƌĂ ĂƋƵĞůĞƐ ĚĞǀŝĚĂŵĞŶƚĞ ŝŶƐĐƌŝƚŽƐ ŶĂ ŵĞƐŵĂ͕ Ğŵ ŽďƐĞƌǀąŶĐŝĂ ĚŽ ŶŽƌŵĂƚŝǀŽ ĞƐƚĂƚƵĄƌŝŽ Ğ ͬŽƵ ĠƚŝĐŽ Ğŵ ǀŝŐŽƌ͘

ŶŐĞŶŚĂƌŝĂ DĞĐąŶŝĐĂ

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ŶŐĞŶŚĂƌŝĂ DĞĐĂƚƌſŶŝĐĂ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͖ Ğŵ ǀŝƌƚƵĚĞ ĚĞ ŶĆŽ ƐĞƌ ĚĞƚĞŶƚŽƌ ĚĂ ƋƵĂůŝĚĂĚĞ ĚĞ ŵĞŵďƌŽ͕ ĞĨĞƚŝǀŽ ŽƵ ĂƚƵĂů͕ ĚĂ ƌĞƐƉĞƚŝǀĂ ŽƌĚĞŵ ƉƌŽĨŝƐƐŝŽŶĂů͕ ŶĆŽ ƉŽĚĞ ĞdžĞĐƵƚĂƌ ĂƐ ƚĂƌĞĨĂƐ ŽƵ ĞdžĞƌĐĞƌ ĂƐ ĨƵŶĕƁĞƐ ƋƵĞ ƐĞ ĞŶĐŽŶƚƌĞŵ ƌĞƐĞƌǀĂĚĂƐ ƉĂƌĂ ĂƋƵĞůĞƐ ĚĞǀŝĚĂŵĞŶƚĞ ŝŶƐĐƌŝƚŽƐ ŶĂ ŵĞƐŵĂ͕ Ğŵ ŽďƐĞƌǀąŶĐŝĂ ĚŽ ŶŽƌŵĂƚŝǀŽ ĞƐƚĂƚƵƚĄƌŝŽ ĞͬŽƵ ĠƚŝĐŽ Ğŵ ǀŝŐŽƌ͘

ŶŐĞŶŚĂƌŝĂ DĞĐĂƚƌſŶŝĐĂ

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

'ĞƐƚĆŽ ĚĞ ZĞĐƵƌƐŽƐ ,ƵŵĂŶŽƐ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͕ ŝŶĐƵŵďŝŶĚŽ͕ ŐĞŶĞƌŝĐĂŵĞŶƚĞ͗ ƉƌŽŵŽǀĞƌ ĂƐ ĂĕƁĞƐ ƌĞƐƉĞŝƚĂŶƚĞƐ ă ŵŽǀŝŵĞŶƚĂĕĆŽ Ğ ŐĞƐƚĆŽ ĚĞ ƉĞƐƐŽĂů͕ ƚĞŶĚŽ Ğŵ ĐŽŶƚĂ ĂƐ ŶĞĐĞƐƐŝĚĂĚĞƐ ĚĞ ĐĂĚĂ ƐĞƌǀŝĕŽ͖ ĂĨĞƌŝƌ Ă ŶĞĐĞƐƐŝĚĂĚĞ ĚĞ ĨŽƌŵĂĕĆŽ ƉƌŽĨŝƐƐŝŽŶĂů͕ ƉƌŽŵŽǀĞŶĚŽ ĂƐ ŶĞĐĞƐƐĄƌŝĂƐ ĂĕƁĞƐ ĚĞ ĨŽƌŵĂĕĆŽ͖ ĚĞĨŝŶŝƌ ƉĞƌĨŝƐ͕ ŵĠƚŽĚŽƐ Ğ ĐƌŝƚĠƌŝŽƐ ĚĞ ƐĞůĞĕĆŽ ŶŽ ąŵďŝƚŽ ĚĞ ƉƌŽĐĞƐƐŽƐ ĚĞ ƌĞĐƌƵƚĂŵĞŶƚŽ ĚĞ ƉĞƐƐŽĂů͖ ĂƐƐĞŐƵƌĂƌ Ž ŶŽƌŵĂů ĚĞĐƵƌƐŽ ĚŽ ƉƌŽĐĞĚŝŵĞŶƚŽ ŶĞĐĞƐƐĄƌŝŽ ă ĂǀĂůŝĂĕĆŽ ĚĞ ĚĞƐĞŵƉĞŶŚŽ͖ ĂƐƐĞŐƵƌĂƌ Ă ĂĚĞƋƵĂĕĆŽ ĐŽŵ ĂƐ ŶŽƌŵĂƐ ůĞŐĂŝƐ ǀŝŐĞŶƚĞƐ͕ ĚŽƐ ƉƌŽĐĞƐƐŽƐ ĚĞ ĐŽŶƚƌĂƚĂĕĆŽ Ğ ƌĞĐƌƵƚĂŵĞŶƚŽ ĚĞ ƉĞƐƐŽĂů͖ ĞdžĞĐƵƚĂƌ ŽƵƚƌĂƐ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĂƉŽŝŽ ŐĞƌĂů ŽƵ ĞƐƉĞĐŝĂůŝnjĂĚŽ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ͕ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŽƉĞƌĂƚŝǀĂƐ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͘

'ĞƐƚĆŽ ĚĞ ZĞĐƵƌƐŽƐ ,ƵŵĂŶŽƐ

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

:ƵƌŝƐƚĂ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͕ ŝŶĐƵŵďŝŶĚŽ͕ ŐĞŶĞƌŝĐĂŵĞŶƚĞ͗ ƌĞƉƌĞƐĞŶƚĂƌ Ğ ĚĞĨĞŶĚĞƌ Ž ŵƵŶŝĐşƉŝŽ Ğŵ ƚŽĚŽƐ ŽƐ ƉůĞŝƚŽƐ ũƵĚŝĐŝĂŝƐ Ğŵ ƋƵĞ ƐĞũĂ ƉĂƌƚĞ ŽƵ ŝŶƚĞƌĞƐƐĂĚŽ͖ Ğŵŝƚŝƌ ƉĂƌĞĐĞƌĞƐ ƐŽďƌĞ ĂƐƐƵŶƚŽƐ ĚĞ ŝŶƚĞƌĞƐƐĞ ƉĂƌĂ Ž ŵƵŶŝĐşƉŝŽ ŽƵ ƐŽďƌĞ ĚŽĐƵŵĞŶƚŽƐ Ă ĞƐƚĞ ĚŝƌŝŐŝĚŽ͖ ĐŽůĂďŽƌĂƌ ŶĂ ĐŽĚŝĨŝĐĂĕĆŽ ĚŽƐ ƌĞŐƵůĂŵĞŶƚŽƐ Ğ ƉŽƐƚƵƌĂƐ ŵƵŶŝĐŝƉĂŝƐ Ğ ŶĂ ĞůĂďŽƌĂĕĆŽ ĚĞ ƉĞƚŝĕƁĞƐ ĚŝƌŝŐŝĚĂƐ ƉĞůŽ ŵƵŶŝĐşƉŝŽ ĂŽƐ ƉŽĚĞƌĞƐ ƉƷďůŝĐŽƐ͖ ƉƌŽĐĞĚĞƌ ĂŽ ĞƐƚƵĚŽ ĚĞ ĚŝƉůŽŵĂƐ ůĞŐĂŝƐ Ğ ƐƵĂ ƌĞƉĞƌĐƵƐƐĆŽ ŶĂ ǀŝĚĂ ĚŽ ŵƵŶŝĐşƉŝŽ͖ ĞdžĞĐƵƚĂƌ ŽƵƚƌĂƐ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĂƉŽŝŽ ŐĞƌĂů ŽƵ ĞƐƉĞĐŝĂůŝnjĂĚŽ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ͕ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŽƉĞƌĂƚŝǀĂƐ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͘

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dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ŶŐĞŶŚĂƌŝĂ 'ĞŽŐƌĄĨŝĐĂ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͖ Ğŵ ǀŝƌƚƵĚĞ ĚĞ ƐĞƌ ĚĞƚĞŶƚŽƌ ĚĂ ƋƵĂůŝĚĂĚĞ ĚĞ ŵĞŵďƌŽ ĞĨĞƚŝǀŽ ĚĂ ƌĞƐƉĞƚŝǀĂ ŽƌĚĞŵ ƉƌŽĨŝƐƐŝŽŶĂů ůĞŐĂůŵĞŶƚĞ ĂƉƌŽǀĂĚĂ͕ ƉŽĚĞ ĞdžĞĐƵƚĂƌ ĂƐ ƚĂƌĞĨĂƐ Ğ ĞdžĞƌĐĞƌ ĂƐ ĨƵŶĕƁĞƐ ƋƵĞ ƐĞũĂŵ ƉĞƌŵŝƚŝĚĂƐ ƉĞůŽ ŶŽƌŵĂƚŝǀŽ ĞƐƚĂƚƵƚĄƌŝŽ ĞͬŽƵ ĠƚŝĐŽ Ğŵ ǀŝŐŽƌ ŶĂ ŵĞƐŵĂ͘

WƌĂĕĂ ĚĂ ZĞƉƷďůŝĐĂ ͼ dĞů͘ Ϯϰϵ ϯϮϵ ϴϴϱ ͼ &Ădž Ϯϰϵ ϯϮϵ ϴϬϵ ͼ ͲŵĂŝů͗ ƉƌĞƐŝĚĞŶĐŝĂΛĐŵͲƚŽŵĂƌ͘Ɖƚ ͼ ϮϯϬϬͲϱϱϬ dŽŵĂƌ

ŶĞdžŽ ĂŽ DĂƉĂ ĚĞ WĞƐƐŽĂů Ͳ ϮϬϭϳ D Z DhE/ /W > dKD Z ĂƌŐŽ ͬ ĂƌƌĞŝƌĂ ͬ ĂƚĞŐŽƌŝĂ

ƚƌŝďƵŝĕĆŽ ͬ ŽŵƉĞƚġŶĐŝĂƐ

&ŽƌŵĂĕĆŽ ĐĂĚĠŵŝĐĂ

>şŶŐƵĂƐ Ğ >ŝƚĞƌĂƚƵƌĂƐ DŽĚĞƌŶĂƐ

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

DĞĚŝĐŝŶĂ sĞƚĞƌŝŶĄƌŝĂ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ŝŶĐƵŵďŝŶĚŽ͕ ŐĞŶĞƌŝĐĂŵĞŶƚĞ͗ ĐŽůĂďŽƌĂƌ ŶĂ ĞdžĞĐƵĕĆŽ ĚĂƐ ƚĂƌĞĨĂƐ ĚĞ ŝŶƐƉĞĕĆŽ ŚşŐŝŽͲƐĂŶŝƚĄƌŝĂ Ğ ĐŽŶƚƌŽůŽ ŚşŐŝŽͲƐĂŶŝƚĄƌŝŽ ĚĂƐ ŝŶƐƚĂůĂĕƁĞƐ ƉĂƌĂ ĂůŽũĂŵĞŶƚŽ ĚĞ ĂŶŝŵĂŝƐ͕ ĚŽƐ ƉƌŽĚƵƚŽƐ ĚĞ ŽƌŝŐĞŵ ĂŶŝŵĂů Ğ ĚŽƐ ĞƐƚĂďĞůĞĐŝŵĞŶƚŽƐ ĐŽŵĞƌĐŝĂŝƐ ŽƵ ŝŶĚƵƐƚƌŝĂŝƐ ŽŶĚĞ ƐĞ ĂďĂƚĂŵ͕ ƉƌĞƉĂƌĞŵ͕ ƉƌŽĚƵnjĂŵ͕ ƚƌĂŶƐĨŽƌŵĞŵ͕ ĨĂďƌŝƋƵĞŵ͕ ĐŽŶƐĞƌǀĞŵ͕ ĂƌŵĂnjĞŶĞŵ ŽƵ ĐŽŵĞƌĐŝĂůŝnjĞŵ ĂŶŝŵĂŝƐ ŽƵ ƉƌŽĚƵƚŽƐ ĚĞ ŽƌŝŐĞŵ ĂŶŝŵĂů Ğ ƐĞƵƐ ĚĞƌŝǀĂĚŽƐ͖ Ğŵŝƚŝƌ ƉĂƌĞĐĞƌ ŶŽƐ ƚĞƌŵŽƐ ĚĂ ůĞŐŝƐůĂĕĆŽ ǀŝŐĞŶƚĞ ƐŽďƌĞ ĂƐ ŝŶƐƚĂůĂĕƁĞƐ Ğ ĞƐƚĂďĞůĞĐŝŵĞŶƚŽƐ ƌĞĨĞƌŝĚŽƐ͖ ŶŽƚŝĨŝĐĂƌ ĚĞ ŝŵĞĚŝĂƚŽ ĂƐ ĚŽĞŶĕĂƐ ĚĞ ĚĞĐůĂƌĂĕĆŽ ŽďƌŝŐĂƚſƌŝĂ Ğ ĂĚŽƚĂƌ ŵĞĚŝĚĂƐ ĚĞ ƉƌŽĨŝůĂdžŝĂ ĚĞƚĞƌŵŝŶĂĚĂƐ ƉĞůĂ ĂƵƚŽƌŝĚĂĚĞ ƐĂŶŝƚĄƌŝĂ ǀĞƚĞƌŝŶĄƌŝĂ ŶĂĐŝŽŶĂů ƐĞŵƉƌĞ ƋƵĞ ƐĞũĂŵ ĚĞƚĞƚĂĚŽƐ ĐĂƐŽƐ ĚĞ ĚŽĞŶĕĂƐ ĚĞ ĐĂƌĄƚĞƌ ĞƉŝnjŽſƚŝĐŽ͘

DĞĚŝĐŝŶĂ sĞƚĞƌŝŶĄƌŝĂ

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

WƐŝĐŽůŽŐŝĂ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͕ ŝŶĐƵŵďŝŶĚŽ͕ ŐĞŶĞƌŝĐĂŵĞŶƚĞ͗ ĞĨĞƚƵĂƌ ĞƐƚƵĚŽƐ Ğ ĚĞƐĞŶǀŽůǀĞƌ ƉƌŽũĞƚŽƐ Ğŵ ĄƌĞĂƐ ĐŽŵŽ ƌĞĐƵƌƐŽƐ ŚƵŵĂŶŽƐ͕ ĂƉŽŝŽ ƐŽĐŝĂů͕ ĞĚƵĐĂƚŝǀŽ Ğ ĐƵůƚƵƌĂů͖ ƉƌŽŵŽǀĞƌ Ă ƌĞƐŽůƵĕĆŽ ĚĞ ƉƌŽďůĞŵĂƐ ĚĞ ĂĚĂƉƚĂĕĆŽ Ğ ƌĞĂĚĂƉƚĂĕĆŽ ƐŽĐŝĂů ĚŽƐ ŝŶĚŝǀşĚƵŽƐ͕ ŐƌƵƉŽƐ ŽƵ ĐŽŵƵŶŝĚĂĚĞƐ͘

WƐŝĐŽůŽŐŝĂ

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

^ĞĐƌĞƚĂƌŝĂĚŽ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͕ ŝŶĐƵŵďŝŶĚŽ͕ ŐĞŶĞƌŝĐĂŵĞŶƚĞ͗ ĞdžĞĐƵƚĂƌ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĐŽŵƵŶŝĐĂĕĆŽ͕ ĚŽĐƵŵĞŶƚĂĕĆŽ Ğ ĐŽŽƌĚĞŶĂĕĆŽ ĚŽ ƐĞƌǀŝĕŽ͖ ƌĞĚŝŐŝƌ ƌĞůĂƚſƌŝŽƐ Ğ ŽƵƚƌŽƐ ƚĞdžƚŽƐ Ğŵ ůşŶŐƵĂ ƉŽƌƚƵŐƵĞƐĂ ŽƵ ĞƐƚƌĂŶŐĞŝƌĂ͖ ƉƌŽĐĞĚĞƌ ă ŐĞƐƚĆŽ Ğ ŵĂŶƵƚĞŶĕĆŽ ĚĂ ĂŐĞŶĚĂ ĚĞ ƚƌĂďĂůŚŽ ĂƚƵĂůŝnjĂĚĂ ĚŽ ƌĞƐƉĞƚŝǀŽ ƐƵƉĞƌŝŽƌ ŚŝĞƌĄƌƋƵŝĐŽ͖ ƚƌĂƚĂƌ ĚĂƐ ƉƌŽǀŝĚġŶĐŝĂƐ ŶĞĐĞƐƐĄƌŝĂƐ ƉĂƌĂ Ă ŵĂƌĐĂĕĆŽ ƌĞĂůŝnjĂĕĆŽ ĚĞ ƌĞƵŶŝƁĞƐ ĚĞ ƚƌĂďĂůŚŽ͖ ĐůĂƐƐŝĨŝĐĂƌ Ă ĚŽĐƵŵĞŶƚĂĕĆŽ͕ ŽƌŐĂŶŝnjĂƌ Ğ ĂƚƵĂůŝnjĂƌ Ž ĂƌƋƵŝǀŽ͖ ƌĞĐĞĐŝŽŶĂ Ğ ŽƌŐĂŶŝnjĂ Ă ĐŽƌƌĞƐƉŽŶĚġŶĐŝĂ ĚĂ ƵŶŝĚĂĚĞ ŽƌŐąŶŝĐĂ͖ ĞdžĞĐƵƚĂƌ ŽƵƚƌĂƐ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĂƉŽŝŽ ŐĞƌĂů ŽƵ ĞƐƉĞĐŝĂůŝnjĂĚŽ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ͕ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŽƉĞƌĂƚŝǀĂƐ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͘

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

^ĞŐƵƌĂŶĕĂ Ğ ,ŝŐŝĞŶĞ ŶŽ dƌĂďĂůŚŽ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͖ ĞůĂďŽƌĂ͕ ĂƵƚŽŶŽŵĂŵĞŶƚĞ ŽƵ Ğŵ ŐƌƵƉŽ͕ ƉĂƌĞĐĞƌĞƐ Ğ ƉƌŽũĞƚŽƐ ĐŽŵ ĚŝǀĞƌƐŽƐ ŐƌĂƵƐ ĚĞ ĐŽŵƉůĞdžŝĚĂĚĞ ŶĂ ĄƌĞĂ ĚĂ ƉƌĞǀĞŶĕĆŽ Ğ ƉƌŽƚĞĕĆŽ ĐŽŶƚƌĂ ƌŝƐĐŽƐ ƉƌŽĨŝƐƐŝŽŶĂŝƐ͖ ĞdžĞĐƵƚĂ ŽƵƚƌĂƐ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĂƉŽŝŽ ŐĞƌĂů ŽƵ ĞƐƉĞĐŝĂůŝnjĂĚŽ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ͕ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŽƉĞƌĂƚŝǀĂƐ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͘

,ŝŐŝĞŶĞ Ğ ^ĞŐƵƌĂŶĕĂ ŶŽ dƌĂďĂůŚŽ ŽƵ ^ĂƷĚĞ ŵďŝĞŶƚĂů͕ ĐŽŵ ĐĞƌƚŝĨŝĐĂĚŽ ĚĞ ĂƉƚŝĚĆŽ ƉƌŽĨŝƐƐŝŽŶĂů ĚĞ ƚĠĐŶŝĐŽ ƐƵƉĞƌŝŽƌ ĚĞ ŚŝŐŝĞŶĞ Ğ ƐĞŐƵƌĂŶĕĂ ŶŽ ƚƌĂďĂůŚŽ͘

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dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

>şŶŐƵĂƐ Ğ >ŝƚĞƌĂƚƵƌĂƐ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͖ ĞůĂďŽƌĂ͕ ĂƵƚŽŶŽŵĂŵĞŶƚĞ ŽƵ Ğŵ ŐƌƵƉŽ͕ ƉĂƌĞĐĞƌĞƐ Ğ ƉƌŽũĞƚŽƐ ĐŽŵ ĚŝǀĞƌƐŽƐ ŐƌĂƵƐ ĚĞ ĐŽŵƉůĞdžŝĚĂĚĞ͖ ĞdžĞĐƵƚĂ ŽƵƚƌĂƐ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĂƉŽŝŽ ŐĞƌĂů ŽƵ ĞƐƉĞĐŝĂůŝnjĂĚŽ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ͕ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŽƉĞƌĂƚŝǀĂƐ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͘

WƌĂĕĂ ĚĂ ZĞƉƷďůŝĐĂ ͼ dĞů͘ Ϯϰϵ ϯϮϵ ϴϴϱ ͼ &Ădž Ϯϰϵ ϯϮϵ ϴϬϵ ͼ ͲŵĂŝů͗ ƉƌĞƐŝĚĞŶĐŝĂΛĐŵͲƚŽŵĂƌ͘Ɖƚ ͼ ϮϯϬϬͲϱϱϬ dŽŵĂƌ

ŶĞdžŽ ĂŽ DĂƉĂ ĚĞ WĞƐƐŽĂů Ͳ ϮϬϭϳ D Z DhE/ /W > dKD Z ĂƌŐŽ ͬ ĂƌƌĞŝƌĂ ͬ ĂƚĞŐŽƌŝĂ

ƚƌŝďƵŝĕĆŽ ͬ ŽŵƉĞƚġŶĐŝĂƐ

&ŽƌŵĂĕĆŽ ĐĂĚĠŵŝĐĂ

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dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

^ŽĐŝŽůŽŐŝĂ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͕ ŝŶĐƵŵďŝŶĚŽ͕ ŐĞŶĞƌŝĐĂŵĞŶƚĞ͗ ƉĂƌƚŝĐŝƉĂƌ ŶĂ ƉƌŽŐƌĂŵĂĕĆŽ Ğ ĞdžĞĐƵĕĆŽ ĚĂƐ ĂƚŝǀŝĚĂĚĞƐ ůŝŐĂĚĂƐ ĂŽ ĚĞƐĞŶǀŽůǀŝŵĞŶƚŽ ƐŽĐŝĂů ĚĂ ƌĞƐƉĞƚŝǀĂ ĂƵƚĂƌƋƵŝĂ ůŽĐĂů͖ ĚĞƐĞŶǀŽůǀĞƌ ƉƌŽũĞƚŽƐ Ğ ĂĕƁĞƐ ĂŽ ŶşǀĞů ĚĂ ŝŶƚĞƌǀĞŶĕĆŽ ŶĂ ĐŽůĞƚŝǀŝĚĂĚĞ͖ ƉƌŽƉŽƌ Ğ ĞƐƚĂďĞůĞĐĞƌ ĐƌŝƚĠƌŝŽƐ ƉĂƌĂ ĂǀĂůŝĂĕĆŽ ĚĂ ĞĨŝĐĄĐŝĂ ĚŽƐ ƉƌŽŐƌĂŵĂƐ ĚĞ ŝŶƚĞƌǀĞŶĕĆŽ ƐŽĐŝĂů͖ ƉƌŽƉŽƌ ŵĞĚŝĚĂƐ ƉĂƌĂ ĐŽƌƌŝŐŝƌ Ğ ŽƵ ĐŽŵďĂƚĞƌ ĂƐ ĚĞƐŝŐƵĂůĚĂĚĞƐ Ğ ĐŽŶƚƌĂĚŝĕƁĞƐ ĐƌŝĂĚĂƐ ƉĞůŽƐ ŐƌƵƉŽƐ ŽƵ ƐŝƐƚĞŵĂƐ ƋƵĞ ŝŶĨůƵĞŶĐŝĂŵ ŽƵ ŵŽĚĞůĂŵ Ă ƐŽĐŝĞĚĂĚĞ͖ ƉƌŽŵŽǀĞƌ Ğ ĚŝŶĂŵŝnjĂƌ ĂĕƁĞƐ ƚĞŶĚĞŶƚĞƐ ă ŝŶƚĞŐƌĂĕĆŽ Ğ ǀĂůŽƌŝnjĂĕĆŽ ĚŽƐ ĐŝĚĂĚĆŽƐ͖ ƌĞĂůŝnjĂƌ ĞƐƚƵĚŽƐ ƋƵĞ ƉĞƌŵŝƚĞŵ ĐŽŶŚĞĐĞƌ Ă ƌĞĂůŝĚĂĚĞ ƐŽĐŝĂů ŶĂƐ ĄƌĞĂƐ ĚĂ ƐĂƷĚĞ͕ ĚŽ ĞŵƉƌĞŐŽ Ğ ĚĂ ĞĚƵĐĂĕĆŽ͖ ŝŶǀĞƐƚŝŐĂƌ ŽƐ ĨĂĐƚŽƐ Ğ ĨĞŶſŵĞŶŽƐ ƋƵĞ͕ ƉĞůĂ ƐƵĂ ŶĂƚƵƌĞnjĂ͕ ƉŽĚĞ ŝŶĨůƵĞŶĐŝĂƌ Ă ǀŝǀġŶĐŝĂ ĚŽƐ ĐŝĚĂĚĆŽƐ͘

^ŽĐŝŽůŽŐŝĂ

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

dƵƌŝƐŵŽ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͖ ĞůĂďŽƌĂ͕ ĂƵƚŽŶŽŵĂŵĞŶƚĞ ŽƵ Ğŵ ŐƌƵƉŽ͕ ƉĂƌĞĐĞƌĞƐ Ğ ƉƌŽũĞƚŽƐ ĐŽŵ ĚŝǀĞƌƐŽƐ ŐƌĂƵƐ ĚĞ ĐŽŵƉůĞdžŝĚĂĚĞ ĐŽŶĚƵĐĞŶƚĞƐ ă ĚĞĨŝŶŝĕĆŽ Ğ ĐŽŶĐƌĞƚŝnjĂĕĆŽ ĚĂƐ ƉŽůşƚŝĐĂƐ ĚŽ ŵƵŶŝĐşƉŝŽ ŶĂ ĄƌĞĂ ĚŽ ƚƵƌŝƐŵŽ͖ ĞdžĞĐƵƚĂ ŽƵƚƌĂƐ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĂƉŽŝŽ ŐĞƌĂů ŽƵ ĞƐƉĞĐŝĂůŝnjĂĚŽ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ͕ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŽƉĞƌĂƚŝǀĂƐ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͘

dƵƌŝƐŵŽ ͬ 'ĞƐƚĆŽ dƵƌşƐƚŝĐĂ Ğ ƵůƚƵƌĂů ŽƵ ƐƉĞĐŝĂůŝnjĂĕĆŽ Ğŵ dƵƌŝƐŵŽ

ƐƐŝƐƚĞŶƚĞ dĠĐŶŝĐŽ Ͳ ŽŽƌĚĞŶĂĚŽƌ dĠĐŶŝĐŽ Ͳ

ƌĞĂ ĚŵŝŶŝƐƚƌĂƚŝǀĂ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞůĂƚŝǀŽ ŐƌĂƵ ĚĞ ĂƵƚŽŶŽŵŝĂ Ğ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ͕ ĨƵŶĕƁĞƐ ĚĞ ĐŚĞĨŝĂ ƚĠĐŶŝĐĂ Ğ ĂĚŵŝŶŝƐƚƌĂƚŝǀĂ ĚĞ ĂƐƐŝƐƚĞŶƚĞƐ ƚĠĐŶŝĐŽƐ ĂĨĞƚŽƐ Ă ĄƌĞĂƐ ĂĚŵŝŶŝƐƚƌĂƚŝǀĂƐ Ğ ƉŽƌ ĐƵũŽƐ ƌĞƐƵůƚĂĚŽƐ Ġ ƌĞƐƉŽŶƐĄǀĞů͖ ƌĞĂůŝnjĂ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ƉƌŽŐƌĂŵĂĕĆŽ Ğ ŽƌŐĂŶŝnjĂĕĆŽ ĚŽ ƚƌĂďĂůŚŽ ĚŽ ƉĞƐƐŽĂů ƋƵĞ ĐŽŽƌĚĞŶĂ͕ ƐĞŐƵŝŶĚŽ ŽƌŝĞŶƚĂĕƁĞƐ Ğ ĚŝƌĞƚŝǀĂƐ ƐƵƉĞƌŝŽƌĞƐ͕ ŶŽŵĞĂĚĂŵĞŶƚĞ ĂƐ ƌĞůĂƚŝǀĂƐ ĂŽ ƉĞƐƐŽĂů͕ ĐŽŶƚĂďŝůŝĚĂĚĞ͕ ĞdžƉĞĚŝĞŶƚĞ͕ ƉĂƚƌŝŵſŶŝŽ Ğ ĂƉƌŽǀŝƐŝŽŶĂŵĞŶƚŽ Ğ ŽƵƚƌĂƐ ĚĞ ĂƉŽŝŽ ŝŶƐƚƌƵŵĞŶƚĂů͖ ĞdžĞĐƵƚĂ ƚƌĂďĂůŚŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ĂĚŵŝŶŝƐƚƌĂƚŝǀĂ ĚĞ ŵĂŝŽƌ ĐŽŵƉůĞdžŝĚĂĚĞ͘

ϭϮǑ ĂŶŽ ĚĞ ĞƐĐŽůĂƌŝĚĂĚĞ ŽƵ ĐƵƌƐŽ ƋƵĞ ůŚĞ ƐĞũĂ ĞƋƵŝƉĂƌĂĚŽ

ƐƐŝƐƚĞŶƚĞ dĠĐŶŝĐŽ Ͳ ŽŽƌĚĞŶĂĚŽƌ dĠĐŶŝĐŽ Ͳ

dĞƐŽƵƌĂƌŝĂ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞůĂƚŝǀŽ ŐƌĂƵ ĚĞ ĂƵƚŽŶŽŵŝĂ Ğ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ͕ ĨƵŶĕƁĞƐ ĚĞ ĐŚĞĨŝĂ ƚĠĐŶŝĐĂ Ğ ĂĚŵŝŶŝƐƚƌĂƚŝǀĂ ĚŽƐ ĂƐƐŝƐƚĞŶƚĞƐ ƚĠĐŶŝĐŽƐ ƋƵĞ ƉƌĞƐƚĂŵ ƐĞƌǀŝĕŽ Ğŵ ƚĞƐŽƵƌĂƌŝĂƐ͕ ƉŽƌ ĐƵũŽƐ ƌĞƐƵůƚĂĚŽƐ Ġ ƌĞƐƉŽŶƐĄǀĞů͖ ƌĞĂůŝnjĂ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ƉƌŽŐƌĂŵĂĕĆŽ Ğ ŽƌŐĂŶŝnjĂĕĆŽ ĚŽ ƚƌĂďĂůŚŽ ĚŽ ƉĞƐƐŽĂů ƋƵĞ ĐŽŽƌĚĞŶĂ͕ ƐĞŐƵŝŶĚŽ ŽƌŝĞŶƚĂĕƁĞƐ Ğ ĚŝƌĞƚŝǀĂƐ ƐƵƉĞƌŝŽƌĞƐ͖ ĞdžĞĐƵƚĂ ƚƌĂďĂůŚŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ĂĚŵŝŶŝƐƚƌĂƚŝǀĂ ĚĞ ŵĂŝŽƌ ĐŽŵƉůĞdžŝĚĂĚĞ͘

ϭϮǑ ĂŶŽ ĚĞ ĞƐĐŽůĂƌŝĚĂĚĞ ŽƵ ĐƵƌƐŽ ƋƵĞ ůŚĞ ƐĞũĂ ĞƋƵŝƉĂƌĂĚŽ

WƌĂĕĂ ĚĂ ZĞƉƷďůŝĐĂ ͼ dĞů͘ Ϯϰϵ ϯϮϵ ϴϴϱ ͼ &Ădž Ϯϰϵ ϯϮϵ ϴϬϵ ͼ ͲŵĂŝů͗ ƉƌĞƐŝĚĞŶĐŝĂΛĐŵͲƚŽŵĂƌ͘Ɖƚ ͼ ϮϯϬϬͲϱϱϬ dŽŵĂƌ

ŶĞdžŽ ĂŽ DĂƉĂ ĚĞ WĞƐƐŽĂů Ͳ ϮϬϭϳ D Z DhE/ /W > dKD Z ĂƌŐŽ ͬ ĂƌƌĞŝƌĂ ͬ ĂƚĞŐŽƌŝĂ

ƚƌŝďƵŝĕĆŽ ͬ ŽŵƉĞƚġŶĐŝĂƐ

&ŽƌŵĂĕĆŽ ĐĂĚĠŵŝĐĂ

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ƐƐŝƐƚĞŶƚĞ dĠĐŶŝĐŽ

ĨĞƌŝĕĆŽ ĚĞ WĞƐŽƐ Ğ DĞĚŝĚĂƐ Ͳ džĞƌĐĞ͕ ĐŽŵ ďĂƐĞ Ğŵ ĚŝƌĞƚŝǀĂƐ ďĞŵ ĚĞĨŝŶŝĚĂƐ Ğ ŝŶƐƚƌƵĕƁĞƐ ŐĞƌĂŝƐ͕ ĨƵŶĕƁĞƐ ĚĞ ŶĂƚƵƌĞnjĂ ĞdžĞĐƵƚŝǀĂ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ͕ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ Ğ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŶŽƐ ǀĄƌŝŽƐ ĚŽŵşŶŝŽƐ ĚĞ ĂƚƵĂĕĆŽ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͕ ƌĞƋƵĞƌĞŶĚŽ ĐŽŶŚĞĐŝŵĞŶƚŽƐ ƚĠĐŶŝĐŽƐ͕ ƚĞſƌŝĐŽƐ Ğ ƉƌĄƚŝĐŽƐ ŽďƚŝĚŽƐ ĂƚƌĂǀĠƐ ĚĞ ĂĚĞƋƵĂĚŽ ĐƵƌƐŽ ĚŽ ĞŶƐŝŶŽ ƐĞĐƵŶĚĄƌŝŽ ŽƵ ĞƋƵŝǀĂůĞŶƚĞ͕ ŝŶĐƵŵďŝŶĚŽͲůŚĞ͕ ŶŽŵĞĂĚĂŵĞŶƚĞ͗ ĞůĂďŽƌĂƌ ĨŝĐŚĂƐ Ğ ƉƌĞƉĂƌĂƌ ĞůĞŵĞŶƚŽƐ ƌĞůĂƚŝǀŽƐ Ă ĐŽďƌĂŶĕĂƐ͖ ƌĞŐƵůĂƌ Ğ ĂĨŝŶĂƌ ŝŶƐƚƌƵŵĞŶƚŽƐ ſƚŝĐŽƐ ĚĞ ƉƌĞĐŝƐĆŽ ŵĞĐąŶŝĐŽƐ͕ ĞůĠƚƌŝĐŽƐ ŽƵ ſƚŝĐŽƐ͖ ĞŶǀŝĂƌ ƉĂƌĂ ƌĞƉĂƌĂĕĆŽ ŽƐ ŝŶƐƚƌƵŵĞŶƚŽƐ ŶĆŽ ƐƵƐĐĞƚşǀĞŝƐ ĚĞ ĂĨŝŶĂĕĆŽ͕ ŝŶĚŝĐĂŶĚŽ ĂƐ ĚĞĨŝĐŝġŶĐŝĂƐ ĞŶĐŽŶƚƌĂĚĂƐ͖ ƉƌŽĐĞĚĞƌ ĂŽ ƌĞŐŝƐƚŽ ĚŽƐ ĞůĞŵĞŶƚŽƐ ĚĞ ŝĚĞŶƚŝĨŝĐĂĕĆŽ ĚŽƐ ĂƉĂƌĞůŚŽƐ Ğ ĚŽƐ ƌĞƐƵůƚĂĚŽƐ ŽďƚŝĚŽƐ ŶŽƐ ĞŶƐĂŝŽƐ ĞĨĞƚƵĂĚŽƐ͖ ĞdžĞĐƵƚĂƌ ƚĂƌĞĨĂƐ ĚĞ ĐĂƌĄĐƚĞƌ ŽƌŐĂŶŝnjĂƚŝǀŽ Ğ ƉƌŽĐĞƐƐƵĂů ŶŽ ąŵďŝƚŽ ĚĂ ƐƵĂ ĂƚŝǀŝĚĂĚĞ͘

ϭϮǑ ĂŶŽ ĚĞ ĞƐĐŽůĂƌŝĚĂĚĞ ŽƵ ĐƵƌƐŽ ƋƵĞ ůŚĞ ƐĞũĂ ĞƋƵŝƉĂƌĂĚŽ

ƐƐŝƐƚĞŶƚĞ dĠĐŶŝĐŽ

ƌĞĂ ĚŵŝŶŝƐƚƌĂƚŝǀĂ Ͳ džĞƌĐĞ͕ ĐŽŵ ďĂƐĞ Ğŵ ĚŝƌĞƚŝǀĂƐ ďĞŵ ĚĞĨŝŶŝĚĂƐ Ğ ŝŶƐƚƌƵĕƁĞƐ ŐĞƌĂŝƐ͕ ĨƵŶĕƁĞƐ ĚĞ ŶĂƚƵƌĞnjĂ ĞdžĞĐƵƚŝǀĂ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ͕ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ Ğ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŶŽƐ ǀĄƌŝŽƐ ĚŽŵşŶŝŽƐ ĚĞ ĂƚƵĂĕĆŽ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͕ ƌĞƋƵĞƌĞŶĚŽ ĐŽŶŚĞĐŝŵĞŶƚŽƐ ƚĠĐŶŝĐŽƐ͕ ƚĞſƌŝĐŽƐ Ğ ƉƌĄƚŝĐŽƐ ŽďƚŝĚŽƐ ĂƚƌĂǀĠƐ ĚĞ ĂĚĞƋƵĂĚŽ ĐƵƌƐŽ ĚŽ ĞŶƐŝŶŽ ƐĞĐƵŶĚĄƌŝŽ ŽƵ ĞƋƵŝǀĂůĞŶƚĞ͕ ŝŶĐƵŵďŝŶĚŽͲůŚĞ͕ ŶŽŵĞĂĚĂŵĞŶƚĞ͗ ĞdžĞĐƵƚĂƌ ƚĂƌĞĨĂƐ ĚĞ ĞdžƉĞĚŝĞŶƚĞ͕ ĂƌƋƵŝǀŽ͕ ƐĞĐƌĞƚĂƌŝĂ͕ ĐŽŶƚĂďŝůŝĚĂĚĞ Ğ ƉƌŽĐĞƐƐĂŵĞŶƚŽ ;ƉĞƐƐŽĂů͕ ĂƉƌŽǀŝƐŝŽŶĂŵĞŶƚŽ Ğ ĞĐŽŶŽŵĂƚŽͿ͘

ϭϮǑ ĂŶŽ ĚĞ ĞƐĐŽůĂƌŝĚĂĚĞ ŽƵ ĐƵƌƐŽ ƋƵĞ ůŚĞ ƐĞũĂ ĞƋƵŝƉĂƌĂĚŽ

ƐƐŝƐƚĞŶƚĞ dĠĐŶŝĐŽ

ŝďůŝŽƚĞĐĂ Ğ ŽĐƵŵĞŶƚĂĕĆŽ Ͳ džĞƌĐĞ͕ ĐŽŵ ďĂƐĞ Ğŵ ĚŝƌĞƚŝǀĂƐ ďĞŵ ĚĞĨŝŶŝĚĂƐ Ğ ŝŶƐƚƌƵĕƁĞƐ ŐĞƌĂŝƐ͕ ĨƵŶĕƁĞƐ ĚĞ ŶĂƚƵƌĞnjĂ ĞdžĞĐƵƚŝǀĂ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ͕ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ Ğ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŶŽƐ ǀĄƌŝŽƐ ĚŽŵşŶŝŽƐ ĚĞ ĂƚƵĂĕĆŽ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͕ ƌĞƋƵĞƌĞŶĚŽ ĐŽŶŚĞĐŝŵĞŶƚŽƐ ƚĠĐŶŝĐŽƐ͕ ϭϮǑ ĂŶŽ ĚĞ ĞƐĐŽůĂƌŝĚĂĚĞ͕ ƚĞſƌŝĐŽƐ Ğ ƉƌĄƚŝĐŽƐ ŽďƚŝĚŽƐ ĂƚƌĂǀĠƐ ĚĞ ĐƵƌƐŽ ĚŽ ĞŶƐŝŶŽ ƐĞĐƵŶĚĄƌŝŽ ŽƵ ĞƋƵŝǀĂůĞŶƚĞ͕ ŶĂ ĄƌĞĂ ĚĂƐ ďŝďůŝŽƚĞĐĂƐ Ğ ĚŽ ƐĞƌǀŝĕŽ ĚĞ ĚŽĐƵŵĞŶƚĂĕĆŽ͕ ŝŶĐƵŵďŝŶĚŽͲůŚĞ͕ ŽƵ ĐƵƌƐŽ ƋƵĞ ůŚĞ ƐĞũĂ ŶŽŵĞĂĚĂŵĞŶƚĞ͗ ƌĞĂůŝnjĂƌ ƚĂƌĞĨĂƐ͕ ƌĞĐŽƌƌĞŶĚŽ Ă ƐŝƐƚĞŵĂƐ ŵĂŶƵĂŝƐ ŽƵ ĂƵƚŽŵĂƚŝnjĂĚŽƐ͕ ƌĞůĂĐŝŽŶĂĚĂƐ ĐŽŵ Ă ĂƋƵŝƐŝĕĆŽ͕ Ž ƌĞŐŝƐƚŽ͕ Ă ĐĂƚĂůŽŐĂĕĆŽ͕ Ă ĐŽƚĂĕĆŽ͕ Ž ĞƋƵŝƉĂƌĂĚŽ͕ ŶĂ ĄƌĞĂ ĚĂ ĂƌŵĂnjĞŶĂŵĞŶƚŽ ĚĞ ĞƐƉĠĐŝĞƐ ĚŽĐƵŵĞŶƚĂŝƐ͕ Ă ŐĞƐƚĆŽ ĚĞ ĐĂƚĄůŽŐŽƐ͕ ŽƐ ƐĞƌǀŝĕŽƐ ĚĞ ĂƚĞŶĚŝŵĞŶƚŽ͕ ĚĞ ĞŵƉƌĠƐƚŝŵŽ Ğ ĚĞ ƉĞƐƋƵŝƐĂ ďŝďůŝŽŐƌĄĨŝĐĂ͕ ĂƐƐŝŵ ĐŽŵŽ Ă ďŝďůŝŽƚĞĐĂ Ğ ƉƌĞƉĂƌĂĕĆŽ ĚĞ ŝŶƐƚƌƵŵĞŶƚŽƐ ĚĞ ĚŝĨƵƐĆŽ͕ ĂƉůŝĐĂŶĚŽ ŶŽƌŵĂƐ ĚĞ ĨƵŶĐŝŽŶĂŵĞŶƚŽ ĚĞ ďŝďůŝŽƚĞĐĂƐ Ğ ƐĞƌǀŝĕŽƐ ĚĞ ĚŽĐƵŵĞŶƚĂĕĆŽ ĚĞ ĂĐŽƌĚŽ ĐŽŵ ŵĠƚŽĚŽƐ Ğ ĚŽĐƵŵĞŶƚĂĕĆŽ ƉƌŽĐĞĚŝŵĞŶƚŽƐ ƉƌĞǀŝĂŵĞŶƚĞ ĞƐƚĂďĞůĞĐŝĚŽƐ͘

ƐƐŝƐƚĞŶƚĞ dĠĐŶŝĐŽ

ŽŶƐƚƌƵĕĆŽ ŝǀŝů Ͳ džĞƌĐĞ͕ ĐŽŵ ďĂƐĞ Ğŵ ĚŝƌĞƚŝǀĂƐ ďĞŵ ĚĞĨŝŶŝĚĂƐ Ğ ŝŶƐƚƌƵĕƁĞƐ ŐĞƌĂŝƐ͕ ĨƵŶĕƁĞƐ ĚĞ ŶĂƚƵƌĞnjĂ ĞdžĞĐƵƚŝǀĂ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ͕ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ Ğ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŶŽƐ ǀĄƌŝŽƐ ĚŽŵşŶŝŽƐ ĚĞ ĂƚƵĂĕĆŽ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͕ ƌĞƋƵĞƌĞŶĚŽ ĐŽŶŚĞĐŝŵĞŶƚŽƐ ƚĠĐŶŝĐŽƐ͕ ƚĞſƌŝĐŽƐ Ğ ϭϮǑ ĂŶŽ ĚĞ ĞƐĐŽůĂƌŝĚĂĚĞ͕ ŽƵ ĐƵƌƐŽ ƋƵĞ ůŚĞ ƐĞũĂ ƉƌĄƚŝĐŽƐ ŽďƚŝĚŽƐ ĂƚƌĂǀĠƐ ĚĞ ĐƵƌƐŽ ĚŽ ĞŶƐŝŶŽ ƐĞĐƵŶĚĄƌŝŽ ŽƵ ĞƋƵŝǀĂůĞŶƚĞ͕ ŶĂ ĄƌĞĂ ĚĂ ĐŽŶƐƚƌƵĕĆŽ Đŝǀŝů ŽƵ ŵĞĚŝĕĆŽ Ğ ŽƌĕĂŵĞŶƚĂĕĆŽ͕ ŝŶĐƵŵďŝŶĚŽͲůŚĞ͕ ŶŽŵĞĂĚĂŵĞŶƚĞ͗ ĚĞƚĞƌŵŝŶĂƌ ĂƐ ƋƵĂůŝĚĂĚĞƐ Ğ ĐƵƐƚŽƐ ĚŽƐ ŵĂƚĞƌŝĂŝƐ Ğ ĚĞ ŵĆŽͲĚĞͲŽďƌĂ ŶĞĐĞƐƐĄƌŝŽƐ ƉĂƌĂ Ă ĞdžĞĐƵĕĆŽ ĚĞ ƵŵĂ ŽďƌĂ͖ ĂŶĂůŝƐĂƌ ĂƐ ĚŝǀĞƌƐĂƐ ĞƋƵŝƉĂƌĂĚŽ͕ ŶĂ ĄƌĞĂ ĚĞ ĐŽŵƉŽŶĞŶƚĞƐ ĚŽ ƉƌŽũĞƚŽ͕ ĂƐ ŵĞŵſƌŝĂƐ ĚĞƐĐƌŝƚŝǀĂƐ Ğ ŽƐ ĐĂĚĞƌŶŽƐ ĚĞ ĞŶĐĂƌŐŽƐ͖ ĞĨĞƚƵĂƌ ŵĞĚŝĕƁĞƐ Ğ ĚĞƚĞƌŵŝŶĂƌ ĂƐ ƋƵĂŶƚŝĚĂĚĞƐ ĚĞ ŵĂƚĞƌŝĂŝƐ͕ ĚĞ ŵĆŽͲĚĞͲŽďƌĂ ŵĞĚŝĚŽƌ ŽƌĕĂŵĞŶƚŝƐƚĂ ŽƵ ĐŽŶƐƚƌƵĕĆŽ Đŝǀŝů Ğ ĚĞ ƐĞƌǀŝĕŽƐ ŶĞĐĞƐƐĄƌŝŽƐ͕ ƵƚŝůŝnjĂŶĚŽ ŽƐ ƐĞƵƐ ĐŽŶŚĞĐŝŵĞŶƚŽƐ ĚĞ ĚĞƐĞŶŚŽ͕ ĚŽƐ ŵĂƚĞƌŝĂŝƐ Ğ ĚŽƐ ƉƌŽĐĞƐƐŽƐ Ğ ŵĠƚŽĚŽƐ ĚĞ ĞdžĞĐƵĕĆŽ ĚĞ ŽďƌĂƐ͖ ĐĂůĐƵůĂƌ ŽƐ ǀĂůŽƌĞƐ ŐůŽďĂŝƐ͕ ƵƚŝůŝnjĂŶĚŽ ƚĂďĞůĂƐ ĚĞ ƉƌĞĕŽƐ͖ ŽƌŐĂŶŝnjĂƌ ŽƐ ŽƌĕĂŵĞŶƚŽƐ Ğ ŝŶĚŝĐĂƌ ŽƐ ŵĂƚĞƌŝĂŝƐ Ă ĞŵƉƌĞŐĂƌ ŶĂƐ ŽƉĞƌĂĕƁĞƐ Ă ĞĨĞƚƵĂƌ͘

ƐƐŝƐƚĞŶƚĞ dĠĐŶŝĐŽ

ĞƐĞŶŚŽ Ͳ džĞƌĐĞ͕ ĐŽŵ ďĂƐĞ Ğŵ ĚŝƌĞƚŝǀĂƐ ďĞŵ ĚĞĨŝŶŝĚĂƐ Ğ ŝŶƐƚƌƵĕƁĞƐ ŐĞƌĂŝƐ͕ ĨƵŶĕƁĞƐ ĚĞ ŶĂƚƵƌĞnjĂ ĞdžĞĐƵƚŝǀĂ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ͕ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ Ğ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŶŽƐ ǀĄƌŝŽƐ ĚŽŵşŶŝŽƐ ĚĞ ĂƚƵĂĕĆŽ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͕ ƌĞƋƵĞƌĞŶĚŽ ĐŽŶŚĞĐŝŵĞŶƚŽƐ ƚĠĐŶŝĐŽƐ͕ ƚĞſƌŝĐŽƐ Ğ ƉƌĄƚŝĐŽƐ ŽďƚŝĚŽƐ ĂƚƌĂǀĠƐ ĚĞ ĐƵƌƐŽ ĚŽ ĞŶƐŝŶŽ ƐĞĐƵŶĚĄƌŝŽ ŽƵ ĞƋƵŝǀĂůĞŶƚĞ͕ ŶĂ ĄƌĞĂ ĚŽ ĚĞƐĞŶŚŽ͕ ŝŶĐƵŵďŝŶĚŽͲůŚĞ͕ ŶŽŵĞĂĚĂŵĞŶƚĞ͗ ĞdžĞĐƵƚĂƌ ĞͬŽƵ ĐŽŵƉŽƌ ŵĂƋƵĞƚĂƐ͕ ĚĞƐĞŶŚŽƐ͕ ϭϮǑ ĂŶŽ ĚĞ ĞƐĐŽůĂƌŝĚĂĚĞ͕ ŵĂƉĂƐ͕ ĐĂƌƚĂƐ ŽƵ ŐƌĄĨŝĐŽƐ ƌĞůĂƚŝǀŽƐ ă ĄƌĞĂ ĚĞ ĂƚŝǀŝĚĂĚĞ ĚŽƐ ƐĞƌǀŝĕŽƐ Ă ƉĂƌƚŝƌ ĚĞ ĞůĞŵĞŶƚŽƐ ƋƵĞ ůŚĞ ƐĆŽ ĨŽƌŶĞĐŝĚŽƐ Ğ ƐĞŐƵŶĚŽ ŶŽƌŵĂƐ ƚĠĐŶŝĐĂƐ ĞƐƉĞĐşĨŝĐĂƐ Ğ͕ ŽƵ ĐƵƌƐŽ ƋƵĞ ůŚĞ ƐĞũĂ ďĞŵ ĂƐƐŝŵ͕ ĞdžĞĐƵƚĂ ĂƐ ĐŽƌƌĞƐƉŽŶĚĞŶƚĞƐ ĂƌƚĞƐ ĨŝŶĂŝƐ͖ ĞdžĞĐƵƚĂƌ ƚƌĂďĂůŚŽƐ ĚĞ ƉŽƌŵĞŶŽƌŝnjĂĕĆŽ Ğŵ ƉƌŽũĞƚŽƐ ĚĞ ĐŽŶƐƚƌƵĕĆŽ Đŝǀŝů Ğ ĂƌƋƵŝƚĞƚƵƌĂ͖ ĞdžĞĐƵƚĂƌ ĚĞƐĞŶŚŽƐ ĞƋƵŝƉĂƌĂĚŽ͕ ŶĂ ĄƌĞĂ ĚŽ ĐĂƌƚŽŐƌĄĨŝĐŽƐ ĚĞ ĞƐƉĂĕŽƐ ĞdžƚĞƌŝŽƌĞƐ͕ ĚĞĚŝĐĂĚŽƐ ŽƵ ŶĆŽ Ă ĐŽŶƐƚƌƵĕĆŽ Đŝǀŝů Ğ njŽŶĂƐ ǀĞƌĚĞƐ Ğ͕ ďĞŵ ĂƐƐŝŵ͕ ĚĞ ƉůĂŶŽƐ ĚĞ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƵƌďĂŶŽͲƉĂŝƐĂŐşƐƚŝĐŽ͖ ĚĞƐĞŶŚŽ ĞdžĞĐƵƚĂƌ ĚĞƐĞŶŚŽƐ ĚĞ ƉůĂŶƚĂƐ ĚĞ ŝŵƉůĂŶƚĂĕĆŽ ƚŽƉŽŐƌĄĨŝĐĂ ĚĞ ĞƐƉĂĕŽƐ ĞdžƚĞƌŝŽƌĞƐ͖ ĞdžĞĐƵƚĂƌ Ă ĂŵƉůŝĂĕĆŽ Ğ ƌĞĚƵĕĆŽ ĚĞ ĚĞƐĞŶŚŽƐ͖ ĞĨĞƚƵĂƌ Ž ĐĄůĐƵůŽ ĚĞ ĚŝŵĞŶƐƁĞƐ͕ ƐƵƉĞƌĨşĐŝĞƐ͕ ǀŽůƵŵĞƐ Ğ ŽƵƚƌŽƐ ĨĂƚŽƌĞƐ ŶĆŽ ĞƐƉĞĐŝĨŝĐĂĚŽƐ͘

WƌĂĕĂ ĚĂ ZĞƉƷďůŝĐĂ ͼ dĞů͘ Ϯϰϵ ϯϮϵ ϴϴϱ ͼ &Ădž Ϯϰϵ ϯϮϵ ϴϬϵ ͼ ͲŵĂŝů͗ ƉƌĞƐŝĚĞŶĐŝĂΛĐŵͲƚŽŵĂƌ͘Ɖƚ ͼ ϮϯϬϬͲϱϱϬ dŽŵĂƌ

ŶĞdžŽ ĂŽ DĂƉĂ ĚĞ WĞƐƐŽĂů Ͳ ϮϬϭϳ D Z DhE/ /W > dKD Z ĂƌŐŽ ͬ ĂƌƌĞŝƌĂ ͬ ĂƚĞŐŽƌŝĂ

ƚƌŝďƵŝĕĆŽ ͬ ŽŵƉĞƚġŶĐŝĂƐ

&ŽƌŵĂĕĆŽ ĐĂĚĠŵŝĐĂ

ϭϮǑ ĂŶŽ ĚĞ ĞƐĐŽůĂƌŝĚĂĚĞ͕ ŽƵ ĐƵƌƐŽ ƋƵĞ ůŚĞ ƐĞũĂ ĞƋƵŝƉĂƌĂĚŽ͕ ŶĂ ĄƌĞĂ ĚŽ ĚĞƐƉŽƌƚŽ

ƐƐŝƐƚĞŶƚĞ dĠĐŶŝĐŽ

EĂĚĂĚŽƌ ^ĂůǀĂĚŽƌ Ͳ džĞƌĐĞ͕ ĐŽŵ ďĂƐĞ Ğŵ ĚŝƌĞƚŝǀĂƐ ďĞŵ ĚĞĨŝŶŝĚĂƐ Ğ ŝŶƐƚƌƵĕƁĞƐ ŐĞƌĂŝƐ͕ ĨƵŶĕƁĞƐ ĚĞ ŶĂƚƵƌĞnjĂ ĞdžĞĐƵƚŝǀĂ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ͕ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ Ğ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŶŽƐ ǀĄƌŝŽƐ ĚŽŵşŶŝŽƐ ĚĞ ĂƚƵĂĕĆŽ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͕ ƌĞƋƵĞƌĞŶĚŽ ĐŽŶŚĞĐŝŵĞŶƚŽƐ ƚĠĐŶŝĐŽƐ͕ ƚĞſƌŝĐŽƐ Ğ ƉƌĄƚŝĐŽƐ ŽďƚŝĚŽƐ ĂƚƌĂǀĠƐ ĚĞ ĐƵƌƐŽ ĚŽ ĞŶƐŝŶŽ ƐĞĐƵŶĚĄƌŝŽ ŽƵ ĞƋƵŝǀĂůĞŶƚĞ ĐŽŶũƵŶƚĂŵĞŶƚĞ ĐŽŵ ĐƵƌƐŽ ĚĞ ŶĂĚĂĚŽƌ ƐĂůǀĂĚŽƌ ĐĞƌƚŝĨŝĐĂĚŽ͘

ϭϮǑ ĂŶŽ ĚĞ ĞƐĐŽůĂƌŝĚĂĚĞ ŽƵ ĐƵƌƐŽ ƋƵĞ ůŚĞ ƐĞũĂ ĞƋƵŝƉĂƌĂĚŽ Ğ ĐƵƌƐŽ ĚĞ EĂĚĂĚŽƌ ^ĂůǀĂĚŽƌ ĐĞƌƚŝĨŝĐĂĚŽ ƉĞůŽ /^E

ƐƐŝƐƚĞŶƚĞ dĠĐŶŝĐŽ

dŽƉŽŐƌĂĨŝĂ Ͳ džĞƌĐĞ͕ ĐŽŵ ďĂƐĞ Ğŵ ĚŝƌĞƚŝǀĂƐ ďĞŵ ĚĞĨŝŶŝĚĂƐ Ğ ŝŶƐƚƌƵĕƁĞƐ ŐĞƌĂŝƐ͕ ĨƵŶĕƁĞƐ ĚĞ ŶĂƚƵƌĞnjĂ ĞdžĞĐƵƚŝǀĂ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ͕ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ Ğ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŶŽƐ ǀĄƌŝŽƐ ĚŽŵşŶŝŽƐ ĚĞ ĂƚƵĂĕĆŽ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͕ ƌĞƋƵĞƌĞŶĚŽ ĐŽŶŚĞĐŝŵĞŶƚŽƐ ƚĠĐŶŝĐŽƐ͕ ƚĞſƌŝĐŽƐ Ğ ƉƌĄƚŝĐŽƐ ŽďƚŝĚŽƐ ĂƚƌĂǀĠƐ ĚĞ ĐƵƌƐŽ ĚŽ ĞŶƐŝŶŽ ƐĞĐƵŶĚĄƌŝŽ ŽƵ ĞƋƵŝǀĂůĞŶƚĞ͕ ŶĂ ĄƌĞĂ ĚĂ ƚŽƉŽŐƌĂĨŝĂ͕ ŝŶĐƵŵďŝŶĚŽͲůŚĞ͕ ŶŽŵĞĂĚĂŵĞŶƚĞ͗ ĞĨĞƚƵĂƌ ůĞǀĂŶƚĂŵĞŶƚŽƐ ƚŽƉŽŐƌĄĨŝĐŽƐ͕ ϭϮǑ ĂŶŽ ĚĞ ĞƐĐŽůĂƌŝĚĂĚĞ͕ ƚĞŶĚŽ Ğŵ ǀŝƐƚĂ Ă ĞůĂďŽƌĂĕĆŽ ĚĞ ƉůĂŶƚĂƐ͕ ƉůĂŶŽƐ ĐĂƌƚĂƐ Ğ ŵĂƉĂƐ ƋƵĞ ƐĞ ĚĞƐƚŝŶĂŵ ă ƉƌĞƉĂƌĂĕĆŽ Ğ ŽƌŝĞŶƚĂĕĆŽ ĚĞ ƚƌĂďĂůŚŽƐ ĚĞ ĞŶŐĞŶŚĂƌŝĂ ŽƵ ƉĂƌĂ ŽƵƚƌŽƐ ĨŝŶƐ͖ ŽƵ ĐƵƌƐŽ ƋƵĞ ůŚĞ ƐĞũĂ ĞĨĞƚƵĂƌ ůĞǀĂŶƚĂŵĞŶƚŽƐ ƚŽƉŽŐƌĄĨŝĐŽƐ͖ ĚĞƚĞƌŵŝŶĂƌ ƌŝŐŽƌŽƐĂŵĞŶƚĞ Ă ƉŽƐŝĕĆŽ ƌĞůĂƚŝǀĂ ĚĞ ƉŽŶƚŽƐ ŶŽƚĄǀĞŝƐ ĚĞ ĚĞƚĞƌŵŝŶĂĚĂ njŽŶĂ ĚĞ ƐƵƉĞƌĨşĐŝĞ ƚĞƌƌĞƐƚƌĞ͖ ƌĞŐƵůĂƌ ĞƋƵŝƉĂƌĂĚŽ͕ ŶĂ ĄƌĞĂ ĚĂ Ğ ƵƚŝůŝnjĂƌ ŽƐ ŝŶƐƚƌƵŵĞŶƚŽƐ ĚĞ ŽďƐĞƌǀĂĕĆŽ͕ ƚĂŝƐ ĐŽŵŽ ƚĂƋƵĞſŵĞƚƌŽƐ͕ ƚĞŽĚſůŝƚŽƐ͕ ŶşǀĞŝƐ͕ ĞƐƚĄĚŝĂƐ͕ ƚĞůƵƌſŵĞƚƌŽƐ͕ ĞƚĐ͖͘ ƉƌŽĐĞĚĞƌ Ă ĐĄůĐƵůŽƐ ƐŽďƌĞ ŽƐ ĞůĞŵĞŶƚŽƐ ƚŽƉŽŐƌĂĨŝĂ ĐŽůŚŝĚŽƐ ŶŽ ĐĂŵƉŽ͖ ƉƌŽĐĞĚĞƌ ă ŝŵƉůĞŵĞŶƚĂĕĆŽ ŶŽ ƚĞƌƌĞŶŽ ĚĞ ƉŽŶƚŽƐ ĚĞ ƌĞĨĞƌġŶĐŝĂ ƉĂƌĂ ĚĞƚĞƌŵŝŶĂĚĂƐ ĐŽŶƐƚƌƵĕƁĞƐ͖ ƚƌĂĕĂƌ ĞƐďŽĕŽƐ Ğ ĚĞƐĞŶŚŽƐ Ğ ĞůĂďŽƌĂƌ ƌĞůĂƚſƌŝŽƐ ĚĂƐ ŽƉĞƌĂĕƁĞƐ ĞĨĞƚƵĂĚĂƐ͘

ƐƐŝƐƚĞŶƚĞ dĠĐŶŝĐŽ

dƵƌŝƐŵŽ Ͳ džĞƌĐĞ͕ ĐŽŵ ďĂƐĞ Ğŵ ĚŝƌĞƚŝǀĂƐ ďĞŵ ĚĞĨŝŶŝĚĂƐ Ğ ŝŶƐƚƌƵĕƁĞƐ ŐĞƌĂŝƐ͕ ĨƵŶĕƁĞƐ ĚĞ ŶĂƚƵƌĞnjĂ ĞdžĞĐƵƚŝǀĂ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ͕ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ Ğ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŶŽƐ ǀĄƌŝŽƐ ĚŽŵşŶŝŽƐ ĚĞ ĂƚƵĂĕĆŽ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͕ ƌĞƋƵĞƌĞŶĚŽ ĐŽŶŚĞĐŝŵĞŶƚŽƐ ƚĠĐŶŝĐŽƐ͕ ƚĞſƌŝĐŽƐ Ğ ƉƌĄƚŝĐŽƐ ŽďƚŝĚŽƐ ϭϮǑ ĂŶŽ ĚĞ ĞƐĐŽůĂƌŝĚĂĚĞ͕ ĂƚƌĂǀĠƐ ĚĞ ĐƵƌƐŽ ĚŽ ĞŶƐŝŶŽ ƐĞĐƵŶĚĄƌŝŽ ŽƵ ĞƋƵŝǀĂůĞŶƚĞ͕ ŶĂ ĄƌĞĂ ĚŽ ƚƵƌŝƐŵŽ͕ ŝŶĐƵŵďŝŶĚŽͲůŚĞ͕ ŶŽŵĞĂĚĂŵĞŶƚĞ͗ ĞdžĞĐƵƚĂƌ͕ Ă ƉĂƌƚŝƌ ĚĞ ŝŶƐƚƌƵĕƁĞƐ Ğ ŽƌŝĞŶƚĂĕƁĞƐ ŽƵ ĐƵƌƐŽ ƋƵĞ ůŚĞ ƐĞũĂ ƉƌĞĐŝƐĂƐ͕ ƚƌĂďĂůŚŽƐ ĚĞ ĂƉŽŝŽ ƚĠĐŶŝĐŽ Ğŵ ĂĕƁĞƐ ĚĞ ƉƌŽŵŽĕĆŽ͕ ĂŶŝŵĂĕĆŽ Ğ ŝŶĨŽƌŵĂĕĆŽ ƚƵƌşƐƚŝĐĂ͖ ĞdžĞĐƵƚĂƌ Ž ƐĞƌǀŝĕŽ ĚĞ ĞdžƉĞĚŝĞŶƚĞ ŐĞƌĂů͕ ƚĂŝƐ ĐŽŵŽ͕ Ă ƌĞĐĞĕĆŽ͕ ĞƋƵŝƉĂƌĂĚŽ͕ ŶĂ ĄƌĞĂ ĚŽ ĞdžƉĞĚŝĕĆŽ Ğ ĂƌƋƵŝǀŽ ĚĞ ĚŽĐƵŵĞŶƚŽƐ͖ ŝŶĨŽƌŵĂƌ Ğ ĚĂƌ ƉĂƌĞĐĞƌĞƐ ĚĞ ĐĂƌĄĐƚĞƌ ƚĠĐŶŝĐŽ ƐŽďƌĞ ŵĂƚĠƌŝĂƐ ƌĞůĂĐŝŽŶĂĚĂƐ ĐŽŵŽ Ž ƚƵƌŝƐŵŽ͖ ƌĞƋƵŝƐŝƚĂƌ Ž ŵĂƚĞƌŝĂů ƚƵƌşƐƚŝĐŽ ƚƵƌŝƐŵŽ Ğ ĐƵůƚƵƌĂů ŶĞĐĞƐƐĄƌŝŽ ĂŽ ďŽŵ ĨƵŶĐŝŽŶĂŵĞŶƚŽ ĚŽƐ ƐĞƌǀŝĕŽƐ͖ ĚĞƐĞŵƉĞŶŚĂƌ ĨƵŶĕƁĞƐ ĚĞ ƐĞĐƌĞƚĂƌŝĂĚŽ Ğ ĂƉůŝĐĂƌ ĐŽŶŚĞĐŝŵĞŶƚŽƐ ĚĞ ůşŶŐƵĂƐ ĞƐƚƌĂŶŐĞŝƌĂƐ ĞƐĐƌŝƚĂƐ Ğ ĨĂůĂĚĂƐ͘

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ƐƐŝƐƚĞŶƚĞ dĠĐŶŝĐŽ

ĞƐƉŽƌƚŽ Ͳ džĞƌĐĞ͕ ĐŽŵ ďĂƐĞ Ğŵ ĚŝƌĞƚŝǀĂƐ ďĞŵ ĚĞĨŝŶŝĚĂƐ Ğ ŝŶƐƚƌƵĕƁĞƐ ŐĞƌĂŝƐ͕ ĨƵŶĕƁĞƐ ĚĞ ŶĂƚƵƌĞnjĂ ĞdžĞĐƵƚŝǀĂ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ͕ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ Ğ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŶŽƐ ǀĄƌŝŽƐ ĚŽŵşŶŝŽƐ ĚĞ ĂƚƵĂĕĆŽ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͕ ƌĞƋƵĞƌĞŶĚŽ ĐŽŶŚĞĐŝŵĞŶƚŽƐ ƚĠĐŶŝĐŽƐ͕ ƚĞſƌŝĐŽƐ Ğ ƉƌĄƚŝĐŽƐ ŽďƚŝĚŽƐ ĂƚƌĂǀĠƐ ĚĞ ĐƵƌƐŽ ĚŽ ĞŶƐŝŶŽ ƐĞĐƵŶĚĄƌŝŽ ŽƵ ĞƋƵŝǀĂůĞŶƚĞ͕ ŶĂ ĄƌĞĂ ĚŽ ĚĞƐƉŽƌƚŽ͘

WƌĂĕĂ ĚĂ ZĞƉƷďůŝĐĂ ͼ dĞů͘ Ϯϰϵ ϯϮϵ ϴϴϱ ͼ &Ădž Ϯϰϵ ϯϮϵ ϴϬϵ ͼ ͲŵĂŝů͗ ƉƌĞƐŝĚĞŶĐŝĂΛĐŵͲƚŽŵĂƌ͘Ɖƚ ͼ ϮϯϬϬͲϱϱϬ dŽŵĂƌ

ŶĞdžŽ ĂŽ DĂƉĂ ĚĞ WĞƐƐŽĂů Ͳ ϮϬϭϳ D Z DhE/ /W > dKD Z ĂƌŐŽ ͬ ĂƌƌĞŝƌĂ ͬ ĂƚĞŐŽƌŝĂ

ƚƌŝďƵŝĕĆŽ ͬ ŽŵƉĞƚġŶĐŝĂƐ

&ŽƌŵĂĕĆŽ ĐĂĚĠŵŝĐĂ

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ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů Ͳ ŶĐĂƌƌĞŐĂĚŽ KƉĞƌĂĐŝŽŶĂů Ͳ

ĚĞ ĞŵŝƚĠƌŝŽƐ Ͳ džĞƌĐĞ ĨƵŶĕƁĞƐ ĚĞ ĐŽŽƌĚĞŶĂĕĆŽ ĚŽƐ ĂƐƐŝƐƚĞŶƚĞƐ ŽƉĞƌĂĐŝŽŶĂŝƐ ĂĨĞƚŽƐ ĂŽ ƐĞƵ ƐĞĐƚŽƌ ĚĞ ĂƚŝǀŝĚĂĚĞ͕ ƉŽƌ ĐƵũŽƐ ƌĞƐƵůƚĂĚŽƐ Ġ ƌĞƐƉŽŶƐĄǀĞů͖ ƌĞĂůŝnjĂ ƚĂƌĞĨĂƐ ĚĞ ƉƌŽŐƌĂŵĂĕĆŽ͕ ŽƌŐĂŶŝnjĂĕĆŽ Ğ ĐŽŶƚƌŽůŽ ĚŽƐ ƚƌĂďĂůŚŽƐ Ă ĞdžĞĐƵƚĂƌ ƉĞůŽ ƉĞƐƐŽĂů ƐŽď ƐƵĂ ĐŽŽƌĚĞŶĂĕĆŽ͕ ĚĞƐŝŐŶĂĚĂŵĞŶƚĞ͗ ĐŽŽƌĚĞŶĂ Ă ŐĞƐƚĆŽ ĚŽƐ ĞĚŝĨşĐŝŽƐ Ğ ĞƋƵŝƉĂŵĞŶƚŽƐ ĚŽ ĐĞŵŝƚĠƌŝŽ͖ ĐŽŽƌĚĞŶĂ Ă ĂƚŝǀŝĚĂĚĞ ĚĞ ŽƵƚƌŽƐ ƚƌĂďĂůŚĂĚŽƌĞƐ ĚĞ ĐĂŵƉŽ͖ ĨĂnj Ă ůŝŐĂĕĆŽ ĞŶƚƌĞ Ă ĂĚŵŝŶŝƐƚƌĂĕĆŽ ĚŽ ĐĞŵŝƚĠƌŝŽ Ğ Ž ƉĞƐƐŽĂů ĚĞ ĐĂŵƉŽ͖ ĨŝƐĐĂůŝnjĂ ŽƐ ƚƌĂďĂůŚŽƐ ƌĞĂůŝnjĂĚŽƐ ŶŽ ĐĞŵŝƚĠƌŝŽ͖ ŝŶĨŽƌŵĂ ŽƐ ƐƵƉĞƌŝŽƌĞƐ ŚŝĞƌĄƌƋƵŝĐŽƐ ĚĂƐ ĂŶŽŵĂůŝĂƐ ĞdžŝƐƚĞŶƚĞƐ ŶĂ ƐƵĂ ĄƌĞĂ ĚĞ ĂƚƵĂĕĆŽ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů Ͳ ŶĐĂƌƌĞŐĂĚŽ KƉĞƌĂĐŝŽŶĂů Ͳ

ĚĞ :ĂƌĚŝŶĞŝƌŽ Ͳ džĞƌĐĞ ĨƵŶĕƁĞƐ ĚĞ ĐŽŽƌĚĞŶĂĕĆŽ ĚŽƐ ĂƐƐŝƐƚĞŶƚĞƐ ŽƉĞƌĂĐŝŽŶĂŝƐ ĂĨĞƚŽƐ ĂŽ ƐĞƵ ƐĞĐƚŽƌ ĚĞ ĂƚŝǀŝĚĂĚĞ͕ ƉŽƌ ĐƵũŽƐ ƌĞƐƵůƚĂĚŽƐ Ġ ƌĞƐƉŽŶƐĄǀĞů͖ ƌĞĂůŝnjĂ ƚĂƌĞĨĂƐ ĚĞ ƉƌŽŐƌĂŵĂĕĆŽ͕ ŽƌŐĂŶŝnjĂĕĆŽ Ğ ĐŽŶƚƌŽůŽ ĚŽƐ ƚƌĂďĂůŚŽƐ Ă ĞdžĞĐƵƚĂƌ ƉĞůŽ ƉĞƐƐŽĂů ƐŽď ƐƵĂ ĐŽŽƌĚĞŶĂĕĆŽ͕ ŶŽŵĞĂĚĂŵĞŶƚĞ͗ ƌĞƐƉŽŶƐĂďŝůŝnjĂͲƐĞ ƉĞůĂ ĂĨĞƚĂĕĆŽ ĚŽƐ ƚƌĂďĂůŚĂĚŽƌĞƐ ƋƵĞ ƐƵƉĞƌǀŝƐŝŽŶĂ ĂŽƐ ĚŝĨĞƌĞŶƚĞƐ ƚƌĂďĂůŚŽƐ Ğŵ ĞdžĞĐƵĕĆŽ͕ ĐŽŽƌĚĞŶĂŶĚŽͲŽƐ ŶŽ ĞdžĞƌĐşĐŝŽ ĚĂƐ ƐƵĂƐ ĂƚŝǀŝĚĂĚĞƐ͖ ƌĞƷŶĞͲƐĞ ƉĞƌŝŽĚŝĐĂŵĞŶƚĞ ĐŽŵ Ž ƐĞƵ ƐƵƉĞƌŝŽƌ ŚŝĞƌĄƌƋƵŝĐŽ͕ ĂŽ ƋƵĂů ĚĄ ĐŽŶŚĞĐŝŵĞŶƚŽ ĚŽ ĂŶĚĂŵĞŶƚŽ ĚŽƐ ƚƌĂďĂůŚŽƐ Ğ ĚĞ ĞǀĞŶƚƵĂŝƐ ŝƌƌĞŐƵůĂƌŝĚĂĚĞƐ͕ ƉůĂŶĞĂŶĚŽ ĐŽŵ ĞƐƚĞ Ž ƚƌĂďĂůŚŽ Ă ĞĨĞƚƵĂƌ Ğ ƌĞĐĞďĞŶĚŽ ĚĞƐƚĞ ĚŝƌĞƚƌŝnjĞƐ ƋƵĞ ĚĞǀĞŵ ŽƌŝĞŶƚĂƌ Ž ƚƌĂďĂůŚŽ͖ ƉƌŽĐĞĚĞ ă ŝŶǀĞŶƚĂƌŝĂĕĆŽ ĚĂƐ ĨĂůƚĂƐ Ğ ĞŶƚƌĂĚĂƐ ĚĞ ƐĞƌǀŝĕŽ ĚŽ ƉĞƐƐŽĂů͕ ƌĞŐŝƐƚĂ Ğ ĐĂůĞŶĚĂƌŝnjĂ ŽƐ ƉĞĚŝĚŽƐ ĚĞ ĨĠƌŝĂƐ͕ ĐŽŵ ǀŝƐƚĂ Ă ĂƐƐĞŐƵƌĂƌ Ž ďŽŵ ĨƵŶĐŝŽŶĂŵĞŶƚŽ ĚĂƐ ŽďƌĂƐ Ğŵ ĞdžĞĐƵĕĆŽ͕ ƉĂƌƚŝĐŝƉĂŶĚŽ Ğ ĚĞƐĐƌĞǀĞŶĚŽ ĂĐŝĚĞŶƚĞƐ ĚĞ ƚƌĂďĂůŚŽ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů Ͳ ŶĐĂƌƌĞŐĂĚŽ KƉĞƌĂĐŝŽŶĂů Ͳ

ĚĞ KĨŝĐŝŶĂƐ DĞĐąŶŝĐĂƐ Ͳ džĞƌĐĞ ĨƵŶĕƁĞƐ ĚĞ ĐŽŽƌĚĞŶĂĕĆŽ ĚŽƐ ĂƐƐŝƐƚĞŶƚĞƐ ŽƉĞƌĂĐŝŽŶĂŝƐ ĂĨĞƚŽƐ ĂŽ ƐĞƵ ƐĞĐƚŽƌ ĚĞ ĂƚŝǀŝĚĂĚĞ͕ ƉŽƌ ĐƵũŽƐ ƌĞƐƵůƚĂĚŽƐ Ġ ƌĞƐƉŽŶƐĄǀĞů͖ ƌĞĂůŝnjĂ ƚĂƌĞĨĂƐ ĚĞ ƉƌŽŐƌĂŵĂĕĆŽ͕ ŽƌŐĂŶŝnjĂĕĆŽ Ğ ĐŽŶƚƌŽůŽ ĚŽƐ ƚƌĂďĂůŚŽƐ Ă ĞdžĞĐƵƚĂƌ ƉĞůŽ ƉĞƐƐŽĂů ƐŽď ƐƵĂ ĐŽŽƌĚĞŶĂĕĆŽ͕ ŶŽŵĞĂĚĂŵĞŶƚĞ͗ ƌĞƐƉŽŶƐĂďŝůŝnjĂͲƐĞ ƉĞůĂ ĂĨĞƚĂĕĆŽ ĚŽƐ ƚƌĂďĂůŚĂĚŽƌĞƐ ƋƵĞ ƐƵƉĞƌǀŝƐŝŽŶĂ ĂŽƐ ĚŝĨĞƌĞŶƚĞƐ ƚƌĂďĂůŚŽƐ Ğŵ ĞdžĞĐƵĕĆŽ͕ ĐŽŽƌĚĞŶĂŶĚŽͲŽƐ ŶŽ ĞdžĞƌĐşĐŝŽ ĚĂƐ ƐƵĂƐ ĂƚŝǀŝĚĂĚĞƐ͖ ƌĞƷŶĞͲƐĞ ƉĞƌŝŽĚŝĐĂŵĞŶƚĞ ĐŽŵ Ž ƐĞƵ ƐƵƉĞƌŝŽƌ ŚŝĞƌĄƌƋƵŝĐŽ͕ ĂŽ ƋƵĂů ĚĄ ĐŽŶŚĞĐŝŵĞŶƚŽ ĚŽ ĂŶĚĂŵĞŶƚŽ ĚŽƐ ƚƌĂďĂůŚŽƐ Ğ ĚĞ ĞǀĞŶƚƵĂŝƐ ŝƌƌĞŐƵůĂƌŝĚĂĚĞƐ͕ ƉůĂŶĞĂŶĚŽ ĐŽŵ ĞƐƚĞ Ž ƚƌĂďĂůŚŽ Ă ĞĨĞƚƵĂƌ Ğ ƌĞĐĞďĞŶĚŽ ĚĞƐƚĞ ĚŝƌĞƚƌŝnjĞƐ ƋƵĞ ĚĞǀĞŵ ŽƌŝĞŶƚĂƌ Ž ƚƌĂďĂůŚŽ͖ ƉƌŽĐĞĚĞ ă ŝŶǀĞŶƚĂƌŝĂĕĆŽ ĚĂƐ ĨĂůƚĂƐ Ğ ĞŶƚƌĂĚĂƐ ĚĞ ƐĞƌǀŝĕŽ ĚŽ ƉĞƐƐŽĂů͕ ƌĞŐŝƐƚĂ Ğ ĐĂůĞŶĚĂƌŝnjĂ ŽƐ ƉĞĚŝĚŽƐ ĚĞ ĨĠƌŝĂƐ͕ ĐŽŵ ǀŝƐƚĂ Ă ĂƐƐĞŐƵƌĂƌ Ž ďŽŵ ĨƵŶĐŝŽŶĂŵĞŶƚŽ ĚĂƐ ŽďƌĂƐ Ğŵ ĞdžĞĐƵĕĆŽ͕ ƉĂƌƚŝĐŝƉĂŶĚŽ Ğ ĚĞƐĐƌĞǀĞŶĚŽ ĂĐŝĚĞŶƚĞƐ ĚĞ ƚƌĂďĂůŚŽ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů Ͳ ŶĐĂƌƌĞŐĂĚŽ KƉĞƌĂĐŝŽŶĂů Ͳ

ĚĞ KďƌĂƐ ĚĞ ŽŶƐƚƌƵĕĆŽ ŝǀŝů Ͳ džĞƌĐĞ ĨƵŶĕƁĞƐ ĚĞ ĐŽŽƌĚĞŶĂĕĆŽ ĚŽƐ ĂƐƐŝƐƚĞŶƚĞƐ ŽƉĞƌĂĐŝŽŶĂŝƐ ĂĨĞƚŽƐ ĂŽ ƐĞƵ ƐĞĐƚŽƌ ĚĞ ĂƚŝǀŝĚĂĚĞ͕ ƉŽƌ ĐƵũŽƐ ƌĞƐƵůƚĂĚŽƐ Ġ ƌĞƐƉŽŶƐĄǀĞů͖ ƌĞĂůŝnjĂ ƚĂƌĞĨĂƐ ĚĞ ƉƌŽŐƌĂŵĂĕĆŽ͕ ŽƌŐĂŶŝnjĂĕĆŽ Ğ ĐŽŶƚƌŽůŽ ĚŽƐ ƚƌĂďĂůŚŽƐ Ă ĞdžĞĐƵƚĂƌ ƉĞůŽ ƉĞƐƐŽĂů ƐŽď ƐƵĂ ĐŽŽƌĚĞŶĂĕĆŽ͕ ŶŽŵĞĂĚĂŵĞŶƚĞ͗ ƌĞƐƉŽŶƐĂďŝůŝnjĂͲƐĞ ƉĞůĂ ĂĨĞƚĂĕĆŽ ĚŽƐ ƚƌĂďĂůŚĂĚŽƌĞƐ ƋƵĞ ƐƵƉĞƌǀŝƐŝŽŶĂ ăƐ ĚŝĨĞƌĞŶƚĞƐ ŽďƌĂƐ ĚĞ ĐŽŶƐƚƌƵĕĆŽ Đŝǀŝů Ğŵ ĞdžĞĐƵĕĆŽ͕ ĐŽŽƌĚĞŶĂŶĚŽͲŽƐ ŶŽ ĞdžĞƌĐşĐŝŽ ĚĂƐ ƐƵĂƐ ĂƚŝǀŝĚĂĚĞƐ͖ ƌĞƷŶĞͲƐĞ ƉĞƌŝŽĚŝĐĂŵĞŶƚĞ ĐŽŵ Ž ƐĞƵ ƐƵƉĞƌŝŽƌ ŚŝĞƌĄƌƋƵŝĐŽ͕ ĂŽ ƋƵĂů ĚĄ ĐŽŶŚĞĐŝŵĞŶƚŽ ĚŽ ĂŶĚĂŵĞŶƚŽ ĚĂƐ ŽďƌĂƐ Ğ ĚĞ ĞǀĞŶƚƵĂŝƐ ŝƌƌĞŐƵůĂƌŝĚĂĚĞƐ͕ ƉůĂŶĞĂŶĚŽ ĐŽŵ ĞƐƚĞ Ž ƚƌĂďĂůŚŽ Ă ĞĨĞƚƵĂƌ Ğ ƌĞĐĞďĞŶĚŽ ĚĞƐƚĞ ĚŝƌĞƚƌŝnjĞƐ ƋƵĞ ĚĞǀĞŵ ŽƌŝĞŶƚĂƌ Ž ƚƌĂďĂůŚŽ͖ ĚĞƐůŽĐĂͲƐĞ ăƐ ŽďƌĂƐ ƋƵĞ ůŚĞ ĞƐƚĆŽ ĂĚƐƚƌŝƚĂƐ͕ ŽďƐĞƌǀĂŶĚŽ Ž ƐĞƵ ĂŶĚĂŵĞŶƚŽ Ğ ƉƌŽǀŝĚĞŶĐŝĂŶĚŽ Ă ƌĞƐŽůƵĕĆŽ ĚĞ ƋƵĂůƋƵĞƌ ƉƌŽďůĞŵĂ͖ ƉƌŽĐĞĚĞ ă ŝŶǀĞŶƚĂƌŝĂĕĆŽ ĚĂƐ ĨĂůƚĂƐ Ğ ĞŶƚƌĂĚĂƐ ĚĞ ƐĞƌǀŝĕŽ ĚŽ ƉĞƐƐŽĂů͕ ƌĞŐŝƐƚĂ Ğ ĐĂůĞŶĚĂƌŝnjĂ ŽƐ ƉĞĚŝĚŽƐ ĚĞ ĨĠƌŝĂƐ͕ ĐŽŵ ǀŝƐƚĂ Ă ĂƐƐĞŐƵƌĂƌ Ž ďŽŵ ĨƵŶĐŝŽŶĂŵĞŶƚŽ ĚĂƐ ŽďƌĂƐ Ğŵ ĞdžĞĐƵĕĆŽ͖ ƉĂƌƚŝĐŝƉĂ Ğ ĚĞƐĐƌĞǀĞ ĂĐŝĚĞŶƚĞƐ ĚĞ ƚƌĂďĂůŚŽ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů Ͳ ŶĐĂƌƌĞŐĂĚŽ KƉĞƌĂĐŝŽŶĂů Ͳ

ĚĞ KďƌĂƐ ĚĞ ƐƚƌĂĚĂƐ Ğ ƌƌƵĂŵĞŶƚŽƐ Ͳ džĞƌĐĞ ĨƵŶĕƁĞƐ ĚĞ ĐŽŽƌĚĞŶĂĕĆŽ ĚŽƐ ĂƐƐŝƐƚĞŶƚĞƐ ŽƉĞƌĂĐŝŽŶĂŝƐ ĂĨĞƚŽƐ ĂŽ ƐĞƵ ƐĞĐƚŽƌ ĚĞ ĂƚŝǀŝĚĂĚĞ͕ ƉŽƌ ĐƵũŽƐ ƌĞƐƵůƚĂĚŽƐ Ġ ƌĞƐƉŽŶƐĄǀĞů͖ ƌĞĂůŝnjĂ ƚĂƌĞĨĂƐ ĚĞ ƉƌŽŐƌĂŵĂĕĆŽ͕ ŽƌŐĂŶŝnjĂĕĆŽ Ğ ĐŽŶƚƌŽůŽ ĚŽƐ ƚƌĂďĂůŚŽƐ Ă ĞdžĞĐƵƚĂƌ ƉĞůŽ ƉĞƐƐŽĂů ƐŽď ƐƵĂ ĐŽŽƌĚĞŶĂĕĆŽ͕ ŶŽŵĞĂĚĂŵĞŶƚĞ͗ ƌĞƐƉŽŶƐĂďŝůŝnjĂͲƐĞ ƉĞůĂ ĂĨĞƚĂĕĆŽ ĚŽƐ ƚƌĂďĂůŚĂĚŽƌĞƐ ƋƵĞ ƐƵƉĞƌǀŝƐŝŽŶĂ ăƐ ĚŝĨĞƌĞŶƚĞƐ ŽďƌĂƐ ĚĞ ĞƐƚƌĂĚĂƐ Ğ ĂƌƌƵĂŵĞŶƚŽƐ Ğŵ ĞdžĞĐƵĕĆŽ͕ ĐŽŽƌĚĞŶĂŶĚŽͲŽƐ ŶŽ ĞdžĞƌĐşĐŝŽ ĚĂƐ ƐƵĂƐ ĂƚŝǀŝĚĂĚĞƐ͖ ƌĞƷŶĞͲƐĞ ƉĞƌŝŽĚŝĐĂŵĞŶƚĞ ĐŽŵ Ž ƐĞƵ ƐƵƉĞƌŝŽƌ ŚŝĞƌĄƌƋƵŝĐŽ͕ ĂŽ ƋƵĂů ĚĄ ĐŽŶŚĞĐŝŵĞŶƚŽ ĚŽ ĂŶĚĂŵĞŶƚŽ ĚĂƐ ŽďƌĂƐ Ğ ĚĞ ĞǀĞŶƚƵĂŝƐ ŝƌƌĞŐƵůĂƌŝĚĂĚĞƐ͕ ƉůĂŶĞĂŶĚŽ ĐŽŵ ĞƐƚĞ Ž ƚƌĂďĂůŚŽ Ă ĞĨĞƚƵĂƌ Ğ ƌĞĐĞďĞŶĚŽ ĚĞƐƚĞ ĚŝƌĞƚƌŝnjĞƐ ƋƵĞ ĚĞǀĞŵ ŽƌŝĞŶƚĂƌ Ž ƚƌĂďĂůŚŽ͖ ĚĞƐůŽĐĂͲƐĞ ăƐ ŽďƌĂƐ ƋƵĞ ůŚĞ ĞƐƚĆŽ ĂĚƐƚƌŝƚĂƐ͕ ŽďƐĞƌǀĂŶĚŽ Ž ƐĞƵ ĂŶĚĂŵĞŶƚŽ Ğ ƉƌŽǀŝĚĞŶĐŝĂŶĚŽ Ă ƌĞƐŽůƵĕĆŽ ĚĞ ƋƵĂůƋƵĞƌ ƉƌŽďůĞŵĂ͖ ƉƌŽĐĞĚĞ ă ŝŶǀĞŶƚĂƌŝĂĕĆŽ ĚĂƐ ĨĂůƚĂƐ Ğ ĞŶƚƌĂĚĂƐ ĚĞ ƐĞƌǀŝĕŽ ĚŽ ƉĞƐƐŽĂů͕ ƌĞŐŝƐƚĂ Ğ ĐĂůĞŶĚĂƌŝnjĂ ŽƐ ƉĞĚŝĚŽƐ ĚĞ ĨĠƌŝĂƐ͕ ĐŽŵ ǀŝƐƚĂ Ă ĂƐƐĞŐƵƌĂƌ Ž ďŽŵ ĨƵŶĐŝŽŶĂŵĞŶƚŽ ĚĂƐ ŽďƌĂƐ Ğŵ ĞdžĞĐƵĕĆŽ͖ ƉĂƌƚŝĐŝƉĂ Ğ ĚĞƐĐƌĞǀĞ ĂĐŝĚĞŶƚĞƐ ĚĞ ƚƌĂďĂůŚŽ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů Ͳ ŶĐĂƌƌĞŐĂĚŽ KƉĞƌĂĐŝŽŶĂů Ͳ

ĚĞ WĂƌƋƵĞƐ ĚĞ DĄƋƵŝŶĂƐ Ͳ džĞƌĐĞ ĨƵŶĕƁĞƐ ĚĞ ĐŽŽƌĚĞŶĂĕĆŽ ĚŽƐ ĂƐƐŝƐƚĞŶƚĞƐ ŽƉĞƌĂĐŝŽŶĂŝƐ ĂĨĞƚŽƐ ĂŽ ƐĞƵ ƐĞĐƚŽƌ ĚĞ ĂƚŝǀŝĚĂĚĞ͕ ƉŽƌ ĐƵũŽƐ ƌĞƐƵůƚĂĚŽƐ Ġ ƌĞƐƉŽŶƐĄǀĞů͖ ƌĞĂůŝnjĂ ƚĂƌĞĨĂƐ ĚĞ ƉƌŽŐƌĂŵĂĕĆŽ͕ ŽƌŐĂŶŝnjĂĕĆŽ Ğ ĐŽŶƚƌŽůŽ ĚŽƐ ƚƌĂďĂůŚŽƐ Ă ĞdžĞĐƵƚĂƌ ƉĞůŽ ƉĞƐƐŽĂů ƐŽď ƐƵĂ ĐŽŽƌĚĞŶĂĕĆŽ͕ ĚĞƐŝŐŶĂĚĂŵĞŶƚĞ͗ ĐŽŽƌĚĞŶĂ Ă ŐĞƐƚĆŽ ĚŽ ƉĂƌƋƵĞ ĚĞ ŵĄƋƵŝŶĂƐ Ğ ǀŝĂƚƵƌĂƐ ĂƵƚŽŵſǀĞŝƐ͕ ƉƌŽĐĞĚĞŶĚŽ ă ƐƵĂ ĚŝƐƚƌŝďƵŝĕĆŽ͕ ĂĨĞƚĂĕĆŽ Ğ ĐŽŶƚƌŽůŽ͕ ĚĞ ĂĐŽƌĚŽ ĐŽŵ ĂƐ ŶĞĐĞƐƐŝĚĂĚĞƐ ĚŽƐ ĚŝǀĞƌƐŽƐ ƐĞƌǀŝĕŽƐ ŵƵŶŝĐŝƉĂŝƐ͖ ƐƵƉĞƌǀŝƐŝŽŶĂ Ğ ŽƌŝĞŶƚĂ Ă ĂƚŝǀŝĚĂĚĞ ĚŽƐ ĨƵŶĐŝŽŶĄƌŝŽƐ ĂĨĞƚŽƐ ă ĄƌĞĂ ĚŽƐ ƚƌĂŶƐƉŽƌƚĞƐ͖ ĂƐƐĞŐƵƌĂ Ă ĐŽŶƐĞƌǀĂĕĆŽ Ğ ŵĂŶƵƚĞŶĕĆŽ ĚŽƐ ĚŝǀĞƌƐŽƐ ǀĞşĐƵůŽƐ Ğ ŵĄƋƵŝŶĂƐ ƋƵĞ ŝŶƚĞŐƌĂŵ Ž ƉĂƌƋƵĞ͖ Ġ ƌĞƐƉŽŶƐĄǀĞů ƉĞůŽ ĐƵŵƉƌŝŵĞŶƚŽ ĚŽ ƌĞŐƵůĂŵĞŶƚŽ ŝŶƚĞƌŶŽ Ğ ƉĞůŽƐ ďĞŶƐ Ğ ĞƋƵŝƉĂŵĞŶƚŽƐ ĂĚƐƚƌŝƚŽƐ ă ƐƵĂ ĄƌĞĂ͖ ƉŽĚĞ ĂƐƐĞŐƵƌĂƌ Ă ŐĞƐƚĆŽ ĐŽƌƌĞŶƚĞ ĚŽ ƉĞƐƐŽĂů͕ ǀĞƌŝĨŝĐĂŶĚŽ ĂƐ ĐĂƌġŶĐŝĂƐ Ğŵ ƌĞĐƵƌƐŽƐ ŚƵŵĂŶŽƐ͕ ĂŶŽƚĂŶĚŽ ĂƐ ƐƵĂƐ ĨĂůƚĂƐ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

WƌĂĕĂ ĚĂ ZĞƉƷďůŝĐĂ ͼ dĞů͘ Ϯϰϵ ϯϮϵ ϴϴϱ ͼ &Ădž Ϯϰϵ ϯϮϵ ϴϬϵ ͼ ͲŵĂŝů͗ ƉƌĞƐŝĚĞŶĐŝĂΛĐŵͲƚŽŵĂƌ͘Ɖƚ ͼ ϮϯϬϬͲϱϱϬ dŽŵĂƌ WĞƐƐŽĂ ŽůĞƚŝǀĂ Ŷ͘Ǒ ϱϬϲ ϳϯϴ ϵϭϰ

ŶĞdžŽ ĂŽ DĂƉĂ ĚĞ WĞƐƐŽĂů Ͳ ϮϬϭϳ D Z DhE/ /W > dKD Z ĂƌŐŽ ͬ ĂƌƌĞŝƌĂ ͬ ĂƚĞŐŽƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

ƚƌŝďƵŝĕĆŽ ͬ ŽŵƉĞƚġŶĐŝĂƐ

&ŽƌŵĂĕĆŽ ĐĂĚĠŵŝĐĂ

ƌĞĂ ƵdžŝůŝĂƌ Ͳ džĞƌĐĞƌ ĨƵŶĕƁĞƐ ĚĞ ŶĂƚƵƌĞnjĂ ĞdžĞĐƵƚŝǀĂ ĚĞ ĐĂƌĄƚĞƌ ŵĂŶƵĂů ŽƵ ŵĞĐąŶŝĐŽ͕ ĞŶƋƵĂĚƌĂĚĂƐ Ğŵ ĚŝƌĞƚŝǀĂƐ ĚĞĨŝŶŝĚĂƐ͕ ŶĂ ĄƌĞĂ ĚĞ ĂƚƵĂĕĆŽ ĚĂ ƌĞƐƉĞƚŝǀĂ ƵŶŝĚĂĚĞ ŽƌŐąŶŝĐĂ͕ ĞdžĞĐƵƚĂŶĚŽ ƚĂƌĞĨĂƐ ĚĞ ĂƉŽŝŽ ŝŶĚŝƐƉĞŶƐĄǀĞŝƐ ĂŽ ĨƵŶĐŝŽŶĂŵĞŶƚŽ ĚŽƐ ƐĞƌǀŝĕŽƐ͕ ĞĨĞƚƵĂ Ă ƌĞĐĞĕĆŽ Ğ ĞŶƚƌĞŐĂ ĚĞ ĞdžƉĞĚŝĞŶƚĞ͖ ƉŽĚĞŶĚŽ ĐŽŵƉŽƌƚĂƌ ĞƐĨŽƌĕŽ ĨşƐŝĐŽ͕ ŶŽŵĞĂĚĂŵĞŶƚĞ ĂƐƐĞŐƵƌĂƌ Ă ůŝŵƉĞnjĂ Ğ ŵĂŶƵƚĞŶĕĆŽ ĚĂƐ ŝŶƐƚĂůĂĕƁĞƐ͖ ĐŽůĂďŽƌĂƌ ĞǀĞŶƚƵĂůŵĞŶƚĞ ŶŽƐ ƚƌĂďĂůŚŽƐ ĂƵdžŝůŝĂƌĞƐ ĚĞ ŵŽŶƚĂŐĞŵ͕ ĚĞƐŵŽŶƚĂŐĞŵ Ğ ĐŽŶƐĞƌǀĂĕĆŽ ĚŽƐ ĞƋƵŝƉĂŵĞŶƚŽƐ͖ ĂƵdžŝůŝĂƌ Ğ ĞdžĞĐƵƚĂƌ ĐĂƌŐĂƐ Ğ ĚĞƐĐĂƌŐĂƐ͖ ƌĞĂůŝnjĂƌ ƚĂƌĞĨĂƐ ĚĞ ĂƌƌƵŵĂĕĆŽ Ğ ĚŝƐƚƌŝďƵŝĕĆŽ͕ ďĞŵ ĐŽŵŽ ŽƵƚƌĂƐ ĨƵŶĕƁĞƐ ŶĆŽ ĞƐƉĞĐŝĨŝĐĂĚĂƐ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

[ 87 ] ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

ƌĞĂ ĚĞ ŽŵďĞŝƌŽ Ͳ ZĞĂůŝnjĂ ƚĂƌĞĨĂƐ ĂƵdžŝůŝĂƌĞƐ ă ĞdžĞĐƵĕĆŽ ĚŽƐ ƚƌĂďĂůŚŽƐ ĞƐƉĞĐşĨŝĐŽƐ ŶŽ ąŵďŝƚŽ ĚĂ WƌŽƚĞĕĆŽ ŝǀŝů Ğ ŽŵďĞŝƌŽƐ͕ ŶŽŵĞĂĚĂŵĞŶƚĞ ŶŽ ĐŽŵďĂƚĞ Ă ŝŶĐġŶĚŝŽƐ͕ ƐŽĐŽƌƌŽ Ğ ƚƌĂŶƐƉŽƌƚĞ ĚĞ ƐŝŶŝƐƚƌĂĚŽƐ Ğ ĚŽĞŶƚĞƐ͖ ƉƌŽǀŝĚĞŶĐŝĂ ƉĞůĂƐ ĐŽŶĚŝĕƁĞƐ ĚĞ ĂƐƐĞŝŽ͕ ůŝŵƉĞnjĂ Ğ ĐŽŶƐĞƌǀĂĕĆŽ ĚĂƐ ŝŶƐƚĂůĂĕƁĞƐ Ğ ĚŝǀĞƌƐĂ ŵĂƋƵŝŶĂƌŝĂ͕ ŝŶĐůƵŝŶĚŽ ǀŝĂƚƵƌĂƐ͖ ĐŽůĂďŽƌĂ ĞǀĞŶƚƵĂůŵĞŶƚĞ ŶŽƐ ƚƌĂďĂůŚŽƐ ĂƵdžŝůŝĂƌĞƐ ĚĞ ŵŽŶƚĂŐĞŵ͕ ĚĞƐŵŽŶƚĂŐĞŵ Ğ ĐŽŶƐĞƌǀĂĕĆŽ ĚĞ ĞƋƵŝƉĂŵĞŶƚŽƐ͖ ĞƐƚĂďĞůĞĐĞ Ğ ƌĞĐĞďĞ ůŝŐĂĕƁĞƐ ƚĞůĞĨſŶŝĐĂƐ Ğ ĂŶŽƚĂ Ž ŵŽǀŝŵĞŶƚŽ ĚĞ ĐŚĂŵĂĚĂƐ ƋƵĞ ƌĞƐƉĞŝƚĂŵ ĂƐƐƵŶƚŽƐ ĚĞ ƐĞƌǀŝĕŽ Ğ ƚƌĂŶƐŵŝƚĞͲĂƐ ƉŽƌ ĞƐĐƌŝƚŽ ŽƵ ŽƌĂůŵĞŶƚĞ ͖ ĞdžĞĐƵƚĂ ŽƵƚƌĂƐ ƚĂƌĞĨĂƐ ƐŝŵƉůĞƐ͕ ŶĆŽ ĞƐƉĞĐŝĨŝĐĂĚĂƐ͕ ĚĞ ĐĂƌĄĐƚĞƌ ŵĂŶƵĂů Ğ ĞdžŝŐŝŶĚŽ ƉƌŝŶĐŝƉĂůŵĞŶƚĞ ĞƐĨŽƌĕŽ ĨşƐŝĐŽ Ğ ĐŽŶŚĞĐŝŵĞŶƚŽƐ ƉƌĄƚŝĐŽƐ͘ ƌĞĂ ĚĞ ^ĞƌǀŝĕŽƐ ƵĚŝŽǀŝƐƵĂŝƐ Ͳ džĞƌĐĞ ĨƵŶĕƁĞƐ ĂƵdžŝůŝĂƌĞƐ ĚĞ ĂĐŽŵƉĂŶŚĂŵĞŶƚŽ Ğ ĂƉŽŝŽ ŶŽ ĚŽŵşŶŝŽ ĚŽƐ ŵĞŝŽƐ ĂƵĚŝŽǀŝƐƵĂŝƐ͖ ŽƉĞƌĂ ĐŽŵ ŽƐ ĞƋƵŝƉĂŵĞŶƚŽƐ ĚĞ ƐŽŵ Ğ ŝŵĂŐĞŶƐ ĞdžŝƐƚĞŶƚĞƐ ŶŽƐ ƐĞƌǀŝĕŽƐ͖ njĞůĂ ƉĞůĂ ŐƵĂƌĚĂ Ğ ĐŽŶƐĞƌǀĂĕĆŽ ĚŽƐ ĞƋƵŝƉĂŵĞŶƚŽƐ ĂĨĞƚŽƐ ĂŽƐ ƐĞƌǀŝĕŽƐ͖ ĂƐƐĞŐƵƌĂ Ž ƌĞŐŝƐƚŽ Ğ ƌĞƉƌŽĚƵĕĆŽ ĚĞ ƚƌĂďĂůŚŽƐ ĚĞ ƐŽŵ Ğ ŝŵĂŐĞŵ ƌĞĂůŝnjĂĚŽƐ ŶŽ ąŵďŝƚŽ ĚŽƐ ƐĞƌǀŝĕŽƐ͖ ĂƵdžŝůŝĂ Ă ĞdžĞĐƵĕĆŽ ĚĞ ĐĂƌŐĂƐ Ğ ĚĞƐĐĂƌŐĂƐ͖ ƌĞĂůŝnjĂ ƚĂƌĞĨĂƐ ĚĞ ĂƌƌƵŵĂĕĆŽ Ğ ĚŝƐƚƌŝďƵŝĕĆŽ͖ ĞdžĞĐƵƚĂ ŽƵƚƌĂƐ ƚĂƌĞĨĂƐ ƐŝŵƉůĞƐ͕ ŶĆŽ ĞƐƉĞĐŝĨŝĐĂĚĂƐ͕ ĚĞ ĐĂƌĄĐƚĞƌ ŵĂŶƵĂů Ğ ĞdžŝŐŝŶĚŽ ƉƌŝŶĐŝƉĂůŵĞŶƚĞ ĞƐĨŽƌĕŽ ĨşƐŝĐŽ Ğ ĐŽŶŚĞĐŝŵĞŶƚŽƐ ƉƌĄƚŝĐŽƐ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

ĂůĐĞƚĞŝƌŽ Ͳ ZĞǀĞƐƚĞ Ğ ƌĞƉĂƌĂ ƉĂǀŝŵĞŶƚŽƐ͕ ũƵƐƚĂƉŽŶĚŽ Ğ ĂƐƐĞŶƚĂŶĚŽ ƉĂƌĂůĞůĞƉşƉĞĚŽƐ͕ ĐƵďŽƐ ŽƵ ŽƵƚƌŽƐ ƐſůŝĚŽƐ ĚĞ ƉĞĚƌĂ͕ ƚĂŝƐ ĐŽŵŽ ĐĂůĕĂĚĂ ă ƉŽƌƚƵŐƵĞƐĂ͕ ŐƌĂŶŝƚŽ͕ ďĂƐĂůƚŽ͕ ĐŝŵĞŶƚŽ Ğ ŽƵ ƉĞĚƌĂ ĐĂůĐĄƌŝĂ͖ Ġ ƌĞƐƉŽŶƐĄǀĞů ƉĞůŽƐ ĞƋƵŝƉĂŵĞŶƚŽƐ ƐŽď Ă ƐƵĂ ŐƵĂƌĚĂ Ğ ƉĞůĂ ĐŽƌƌĞƚĂ ƵƚŝůŝnjĂĕĆŽ͕ ƉƌŽĐĞĚĞŶĚŽ͕ ƋƵĂŶĚŽ ŶĞĐĞƐƐĄƌŝŽ͕ ă ŵĂŶƵƚĞŶĕĆŽ Ğ ƌĞƉĂƌĂĕĆŽ ĚŽƐ ŵĞƐŵŽƐ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

ĂŶĂůŝnjĂĚŽƌ Ͳ džĞĐƵƚĂ ĐĂŶĂůŝnjĂĕƁĞƐ Ğŵ ĞĚŝĨşĐŝŽƐ͕ ŝŶƐƚĂůĂĕƁĞƐ ŝŶĚƵƐƚƌŝĂŝƐ Ğ ŽƵƚƌŽƐ ůŽĐĂŝƐ͕ ĚĞƐƚŝŶĂĚŽƐ ĂŽ ƚƌĂŶƐƉŽƌƚĞ ĚĞ ĄŐƵĂ ŽƵ ĞƐŐŽƚŽƐ͖ ĐŽƌƚĂ Ğ ƌŽƐĐĂ ƚƵďŽƐ Ğ ƐŽůĚĂ ƚƵďŽƐ ĚĞ ĐŚƵŵďŽ͕ ƉůĄƐƚŝĐŽ͕ ĨĞƌƌŽ͕ ĨŝďƌŽĐŝŵĞŶƚŽ Ğ ŵĂƚĞƌŝĂŝƐ ĂĨŝŶƐ͖ ĞdžĞĐƵƚĂ ƌĞĚĞƐ ĚĞ ĚŝƐƚƌŝďƵŝĕĆŽ ĚĞ ĄŐƵĂ Ğ ƌĞƐƉĞƚŝǀŽƐ ƌĂŵĂŝƐ ĚĞ ůŝŐĂĕĆŽ͕ ĂƐƐĞŶƚĂŶĚŽ ƚƵďĂŐĞŶƐ Ğ ĂĐĞƐƐſƌŝŽƐ ŶĞĐĞƐƐĄƌŝŽƐ͖ ĞdžĞĐƵƚĂ ŽƵƚƌŽƐ ƚƌĂďĂůŚŽƐ ƐŝŵŝůĂƌĞƐ ŽƵ ĐŽŵƉůĞŵĞŶƚĂƌĞƐ ĚŽƐ ĚĞƐĐƌŝƚŽƐ͖ Ġ ƌĞƐƉŽŶƐĄǀĞů ƉĞůŽƐ ĞƋƵŝƉĂŵĞŶƚŽƐ ƐŽď Ă ƐƵĂ ŐƵĂƌĚĂ Ğ ƉĞůĂ ĐŽƌƌĞƚĂ ƵƚŝůŝnjĂĕĆŽ͕ ƉƌŽĐĞĚĞŶĚŽ͕ ƋƵĂŶĚŽ ŶĞĐĞƐƐĄƌŝŽ͕ ă ŵĂŶƵƚĞŶĕĆŽ Ğ ƌĞƉĂƌĂĕĆŽ ĚŽƐ ŵĞƐŵŽƐ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

ĂŶƚŽŶĞŝƌŽ ĚĞ sŝĂƐ Ͳ sŝŐŝĂ ĐŽŶƐĞƌǀĂ Ğ ůŝŵƉĂ Ƶŵ ĚĞƚĞƌŵŝŶĂĚŽ ƚƌŽĕŽ ĚĂ ĞƐƚƌĂĚĂ͕ ĐŽŵƵŶŝĐĂŶĚŽ ĂůƵŝŵĞŶƚŽƐ ĚĞ ǀŝĂ͕ ĞdžĞĐƵƚĂŶĚŽ ƉĞƋƵĞŶĂƐ ƌĞƉĂƌĂĕƁĞƐ Ğ ĚĞƐŝŵƉĞĚŝŶĚŽ ĂĐĞƐƐŽƐ͖ ůŝŵƉĂ ǀĂůĞƚĂƐ͕ ĐŽŵƉƁĞ ďĞƌŵĂƐ Ğ ĚĞƐŽďƐƚƌƵŝ ĂƋƵĞĚƵƚŽƐ͕ ĚĞ ŵŽĚŽ Ă ŵĂŶƚĞƌ Ğŵ ďŽĂƐ ĐŽŶĚŝĕƁĞƐ Ž ĞƐĐŽĂŵĞŶƚŽ ĚĂƐ ĄŐƵĂƐ ƉůƵǀŝĂŝƐ͖ ĐŽŵƉƁĞ ƉĂǀŝŵĞŶƚŽƐ͕ ĞĨĞƚƵĂŶĚŽ ƌĞƉĂƌĂĕƁĞƐ ĚĞ ĐĂůĐĞƚĂŵĞŶƚŽ͕ ĂƉŝůŽĂŵĞŶƚŽ ĚĞ ƉĞĚƌĂ ŵŽůĞ ŽƵ ĚĞƌƌĂŵĞ ĚĞ ŵĂƐƐĂƐ ďĞƚƵŵŝŶŽƐĂƐ͖ ĞdžĞĐƵƚĂ ĐŽƌƚĞƐ Ğŵ ĄƌǀŽƌĞƐ ĞdžŝƐƚĞŶƚĞƐ ŶĂƐ ďĞƌŵĂƐ ĚĂ ĞƐƚƌĂĚĂ͖ Ġ ƌĞƐƉŽŶƐĄǀĞů ƉĞůŽƐ ĞƋƵŝƉĂŵĞŶƚŽƐ ƐŽď Ă ƐƵĂ ŐƵĂƌĚĂ Ğ ƉĞůĂ ĐŽƌƌĞƚĂ ƵƚŝůŝnjĂĕĆŽ͕ ƉƌŽĐĞĚĞŶĚŽ͕ ƋƵĂŶĚŽ ŶĞĐĞƐƐĄƌŝŽ͕ ă ŵĂŶƵƚĞŶĕĆŽ Ğ ƌĞƉĂƌĂĕĆŽ ĚŽƐ ŵĞƐŵŽƐ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

WƌĂĕĂ ĚĂ ZĞƉƷďůŝĐĂ ͼ dĞů͘ Ϯϰϵ ϯϮϵ ϴϴϱ ͼ &Ădž Ϯϰϵ ϯϮϵ ϴϬϵ ͼ ͲŵĂŝů͗ ƉƌĞƐŝĚĞŶĐŝĂΛĐŵͲƚŽŵĂƌ͘Ɖƚ ͼ ϮϯϬϬͲϱϱϬ dŽŵĂƌ

ŶĞdžŽ ĂŽ DĂƉĂ ĚĞ WĞƐƐŽĂů Ͳ ϮϬϭϳ D Z DhE/ /W > dKD Z

ĂƌŐŽ ͬ ĂƌƌĞŝƌĂ ͬ ĂƚĞŐŽƌŝĂ

ƚƌŝďƵŝĕĆŽ ͬ ŽŵƉĞƚġŶĐŝĂƐ

&ŽƌŵĂĕĆŽ ĐĂĚĠŵŝĐĂ

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ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

ĂƌƉŝŶƚĞŝƌŽ Ͳ džĞĐƵƚĂ ƚƌĂďĂůŚŽƐ Ğŵ ĞƵĐĂůŝƉƚŽ͕ ƉŝŶŚĞŝƌŽ͕ ĐĂƐƚĂŶŚŽ͕ ƚŽůĂ Ğ ĐąŵďĂůĂ͕ ĂƚƌĂǀĠƐ ĚŽƐ ŵŽůĚĞƐ ƋƵĞ ůŚĞ ƐĆŽ ĂƉƌĞƐĞŶƚĂĚŽƐ͖ ĂŶĂůŝƐĂ Ž ĚĞƐĞŶŚŽ ƋƵĞ ůŚĞ Ġ ĨŽƌŶĞĐŝĚŽ ŽƵ ƉƌŽĐĞĚĞ ĞůĞ ƉƌſƉƌŝŽ ĂŽ ĞƐďŽĕŽ ĚŽ ŵĞƐŵŽ͕ ƌŝƐĐĂ Ă ŵĂĚĞŝƌĂ ĚĞ ĂĐŽƌĚŽ ĐŽŵ ĂƐ ŵĞĚŝĚĂƐ͖ ƐĞƌƌĂ Ğ ƚŽƉŝĂ ĂƐ ƉĞĕĂƐ ĚĞƐĞŶŐƌŽƐƐĂŶĚŽͲĂƐ͕ ůŝdžĂ Ğ ĐŽůĂ ŵĂƚĞƌŝĂů͕ ĂũƵƐƚĂŶĚŽ ĂƐ ƉĞĕĂƐ ŶƵŵĂ ƉƌĞŶƐĂ͖ ĂƐƐĞŶƚĂ͕ ŵŽŶƚĂ Ğ ĂĐĂďĂ ŽƐ ůŝŵƉŽƐ ŶĂƐ ŽďƌĂƐ͕ ƚĂŝƐ ĐŽŵŽ ƉŽƌƚĂƐ͕ ƌŽĚĂƉĠƐ͕ ũĂŶĞůĂƐ͕ ĐĂŝdžŝůŚŽƐ͕ ĞƐĐĂĚĂƐ͕ ĚŝǀŝƐſƌŝĂƐ Ğŵ ŵĂĚĞŝƌĂ͕ ĂƌŵĂĕƁĞƐ ĚĞ ƚĂůŚĂĚŽƐ Ğ ůĂŵďƌŝƐ͖ ƉƌŽĐĞĚĞ Ă ƚƌĂŶƐĨŽƌŵĂĕƁĞƐ ĚĂƐ ƉĞĕĂƐ Ă ƉĂƌƚŝƌ ĚĞ ƵŵĂ ĞƐƚƌƵƚƵƌĂ ǀĞůŚĂ ƉĂƌĂ ƵŵĂ ŶŽǀĂ Ğ ƌĞƉĂƌĂͲĂƐ͖ Ġ ƌĞƐƉŽŶƐĄǀĞů ƉĞůŽƐ ĞƋƵŝƉĂŵĞŶƚŽƐ ƐŽď Ă ƐƵĂ ŐƵĂƌĚĂ Ğ ƉĞůĂ ĐŽƌƌĞƚĂ ƵƚŝůŝnjĂĕĆŽ͕ ƉƌŽĐĞĚĞŶĚŽ͕ ƋƵĂŶĚŽ ŶĞĐĞƐƐĄƌŝŽ͕ ă ŵĂŶƵƚĞŶĕĆŽ Ğ ƌĞƉĂƌĂĕĆŽ ĚŽƐ ŵĞƐŵŽƐ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

ŽŶĚƵƚŽƌ ĚĞ DĄƋƵŝŶĂƐ WĞƐĂĚĂƐ Ğ sĞşĐƵůŽƐ ƐƉĞĐŝĂŝƐ Ͳ ŽŶĚƵnj ŵĄƋƵŝŶĂƐ ƉĞƐĂĚĂƐ ĚĞ ŵŽǀŝŵĞŶƚĂĕĆŽ ĚĞ ƚĞƌƌĂƐ͕ ŐƌƵĂƐ ŽƵ ǀĞşĐƵůŽƐ ĚĞƐƚŝŶĂĚŽƐ ă ůŝŵƉĞnjĂ ƵƌďĂŶĂ ŽƵ ƌĞĐŽůŚĂ ĚĞ ůŝdžŽ͕ ŵĂŶŽďƌĂŶĚŽ ƚĂŵďĠŵ ƐŝƐƚĞŵĂƐ ŚŝĚƌĄƵůŝĐŽƐ ŽƵ ŵĞĐĂŶŝƐŵŽƐ ĐŽŵƉůĞŵĞŶƚĂƌĞƐ ĚĂƐ ǀŝĂƚƵƌĂƐ͖ njĞůĂ ƉĞůĂ ĐŽŶƐĞƌǀĂĕĆŽ Ğ ůŝŵƉĞnjĂ ĚĂƐ ǀŝĂƚƵƌĂƐ͕ ǀĞƌŝĨŝĐĂ ĚŝĂƌŝĂŵĞŶƚĞ ŽƐ ŶşǀĞŝƐ ĚĞ ſůĞŽ Ğ ĄŐƵĂ Ğ ĐŽŵƵŶŝĐĂ ĂƐ ŽĐŽƌƌġŶĐŝĂƐ ŶŽƌŵĂŝƐ ĚĞƚĞƚĂĚĂƐ ŶĂƐ ǀŝĂƚƵƌĂƐ͖ ƉŽĚĞ ĐŽŶĚƵnjŝƌ ŽƵƚƌĂƐ ǀŝĂƚƵƌĂƐ ůŝŐĞŝƌĂƐ ŽƵ ƉĞƐĂĚĂƐ͖ Ġ ƌĞƐƉŽŶƐĄǀĞů ƉĞůŽƐ ĞƋƵŝƉĂŵĞŶƚŽƐ ƐŽď Ă ƐƵĂ ŐƵĂƌĚĂ Ğ ƉĞůĂ ĐŽƌƌĞƚĂ ƵƚŝůŝnjĂĕĆŽ͕ ƉƌŽĐĞĚĞŶĚŽ͕ ƋƵĂŶĚŽ ŶĞĐĞƐƐĄƌŝŽ͕ ă ŵĂŶƵƚĞŶĕĆŽ Ğ ƌĞƉĂƌĂĕĆŽ ĚŽƐ ŵĞƐŵŽƐ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

ŽǀĞŝƌŽ Ͳ WƌŽĐĞĚĞ ă ĂďĞƌƚƵƌĂ Ğ ĂƚĞƌƌŽ ĚĞ ƐĞƉƵůƚƵƌĂƐ͕ ĂŽ ĚĞƉſƐŝƚŽ Ğ ĂŽ ůĞǀĂŶƚĂŵĞŶƚŽ ĚŽƐ ƌĞƐƚŽƐ ŵŽƌƚĂŝƐ͖ ĐƵŝĚĂ ĚŽ ƐĞĐƚŽƌ ĚŽ ĐĞŵŝƚĠƌŝŽ ƋƵĞ ůŚĞ ĞƐƚĄ ĚŝƐƚƌŝďƵşĚŽ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

ůĞƚƌŝĐŝƐƚĂ Ͳ /ŶƐƚĂůĂ͕ ĐŽŶƐĞƌǀĂ Ğ ƌĞƉĂƌĂ ĐŝƌĐƵŝƚŽƐ Ğ ĂƉĂƌĞůŚĂŐĞŵ ĞůĠƚƌŝĐĂ͖ ŐƵŝĂ ĨƌĞƋƵĞŶƚĞŵĞŶƚĞ Ă ƐƵĂ ĂƚŝǀŝĚĂĚĞ ƉŽƌ ĚĞƐĞŶŚŽƐ͕ ĞƐƋƵĞŵĂƐ ŽƵ ŽƵƚƌĂƐ ĞƐƉĞĐŝĨŝĐĂĕƁĞƐ ƚĠĐŶŝĐĂƐ͕ ƋƵĞ ŝŶƚĞƌƉƌĞƚĂ͖ ĐƵŵƉƌĞ ĐŽŵ ĂƐ ĚŝƐƉŽƐŝĕƁĞƐ ůĞŐĂŝƐ ƌĞůĂƚŝǀĂƐ ăƐ ŝŶƐƚĂůĂĕƁĞƐ ĚĞ ƋƵĞ ƚƌĂƚĂ͖ ůŽĐĂůŝnjĂ Ğ ĚĞƚĞƌŵŝŶĂ ĂƐ ĚĞĨŝĐŝġŶĐŝĂƐ ĚĞ ŝŶƐƚĂůĂĕĆŽ ŽƵ ĚĞ ĨƵŶĐŝŽŶĂŵĞŶƚŽ͕ ƵƚŝůŝnjĂŶĚŽ͕ ƐĞ ĨŽƌ Ž ĐĂƐŽ ĚŝƐƐŽ͕ ĂƉĂƌĞůŚŽƐ ĚĞ ĚĞƚĞĕĆŽ Ğ ĚĞ ŵĞĚŝĚĂ͖ Ġ ƌĞƐƉŽŶƐĄǀĞů ƉĞůŽƐ ĞƋƵŝƉĂŵĞŶƚŽƐ ƐŽď Ă ƐƵĂ ŐƵĂƌĚĂ Ğ ƉĞůĂ ĐŽƌƌĞƚĂ ƵƚŝůŝnjĂĕĆŽ͕ ƉƌŽĐĞĚĞŶĚŽ͕ ƋƵĂŶĚŽ ŶĞĐĞƐƐĄƌŝŽ͕ ă ŵĂŶƵƚĞŶĕĆŽ Ğ ƌĞƉĂƌĂĕĆŽ ĚŽƐ ŵĞƐŵŽƐ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

ůĞƚƌŝĐŝƐƚĂ ƵƚŽ Ͳ /ŶƐƚĂůĂ͕ ĐŽŶƐĞƌǀĂ͕ ƌĞƉĂƌĂ Ğ ĂĨŝŶĂ Ă ĂƉĂƌĞůŚĂŐĞŵ Ğ ĐŝƌĐƵŝƚŽƐ ĞůĠƚƌŝĐŽƐ ĚĞ ǀĞşĐƵůŽƐ ĂƵƚŽŵſǀĞŝƐ Ğ ƐŝŵŝůĂƌĞƐ͖ ĞdžĞĐƵƚĂ ĂƐ ƚĂƌĞĨĂƐ ĨƵŶĚĂŵĞŶƚĂŝƐ ĚŽ ĞůĞƚƌŝĐŝƐƚĂ Ğŵ ŐĞƌĂů ŵĂƐ ƌĞƋƵĞƌĞŶĚŽ ĐŽŶŚĞĐŝŵĞŶƚŽƐ ĞƐƉĞĐşĨŝĐŽƐ ƉĂƌĂ ƚƌĂďĂůŚĂƌ ĐŽŵ ĂƐ ŝŶƐƚĂůĂĕƁĞƐ ĞůĠƚƌŝĐĂƐ ĚĞ ǀĞşĐƵůŽƐ ĂƵƚŽŵſǀĞŝƐ͖ ůŽĐĂůŝnjĂ Ğ ĚĞƚĞƌŵŝŶĂ ĂƐ ĚĞĨŝĐŝġŶĐŝĂƐ ĚĞ ŝŶƐƚĂůĂĕĆŽ Ğ ĚĞ ĨƵŶĐŝŽŶĂŵĞŶƚŽ͕ ƉƌŽĐĞĚĞŶĚŽ ăƐ ƌĞƐƉĞƚŝǀĂƐ ƐƵďƐƚŝƚƵŝĕƁĞƐ ŽƵ ƌĞƉĂƌĂĕƁĞƐ͖ ĞŶƐĂŝĂ ŽƐ ĚŝǀĞƌƐŽƐ ĐŝƌĐƵŝƚŽƐ Ğ ĂƉĂƌĞůŚĂŐĞŶƐ Ğ ƌĞĂůŝnjĂ ĂƐ ĂĨŝŶĂĕƁĞƐ ŶĞĐĞƐƐĄƌŝĂƐ ĂŽ ƐĞƵ ĐŽƌƌĞƚŽ ĨƵŶĐŝŽŶĂŵĞŶƚŽ͖ Ġ ƌĞƐƉŽŶƐĄǀĞů ƉĞůŽƐ ĞƋƵŝƉĂŵĞŶƚŽƐ ƐŽď Ă ƐƵĂ ŐƵĂƌĚĂ Ğ ƉĞůĂ ĐŽƌƌĞƚĂ ƵƚŝůŝnjĂĕĆŽ͕ ƉƌŽĐĞĚĞŶĚŽ͕ ƋƵĂŶĚŽ ŶĞĐĞƐƐĄƌŝŽ͕ ă ŵĂŶƵƚĞŶĕĆŽ Ğ ƌĞƉĂƌĂĕĆŽ ĚŽƐ ŵĞƐŵŽƐ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

ŶĐĂĚĞƌŶĂĚŽƌ Ͳ džĞĐƵƚĂ Ă ĂƚŝǀŝĚĂĚĞ ŶĞĐĞƐƐĄƌŝĂ ă ĞŶĐĂĚĞƌŶĂĕĆŽ ĚĞ ůŝǀƌŽƐ͕ ƉƌŽŵŽǀĞŶĚŽ ƚŽĚĂƐ ĂƐ ƚĂƌĞĨĂƐ ƋƵĞ ůŚĞ ĞƐƚĆŽ ĂƐƐŽĐŝĂĚĂƐ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

&ŝĞů ĚĞ DĞƌĐĂĚŽƐ Ğ &ĞŝƌĂƐ Ͳ ZĞĐĞďĞ͕ ĂƌƌƵŵĂ Ğ ĐŽŶƚƌŽůĂ ƚŽĚŽƐ ŽƐ ďĞŶƐ ĚĞ ĞƋƵŝƉĂŵĞŶƚŽ ĂĨĞƚŽƐ ĂŽƐ ŵĞƌĐĂĚŽƐ Ğ ĨĞŝƌĂƐ͕ ŽďƐĞƌǀĂŶĚŽ Ž ĐƵŵƉƌŝŵĞŶƚŽ ĚĂƐ ĨƵŶĕƁĞƐ ĂƚƌŝďƵşĚĂƐ ƉĞůŽƐ ƌĞŐƵůĂŵĞŶƚŽƐ ĚŽƐ ŵĞƌĐĂĚŽƐ Ğ ĨĞŝƌĂƐ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

WƌĂĕĂ ĚĂ ZĞƉƷďůŝĐĂ ͼ dĞů͘ Ϯϰϵ ϯϮϵ ϴϴϱ ͼ &Ădž Ϯϰϵ ϯϮϵ ϴϬϵ ͼ ͲŵĂŝů͗ ƉƌĞƐŝĚĞŶĐŝĂΛĐŵͲƚŽŵĂƌ͘Ɖƚ ͼ ϮϯϬϬͲϱϱϬ dŽŵĂƌ

ŶĞdžŽ ĂŽ DĂƉĂ ĚĞ WĞƐƐŽĂů Ͳ ϮϬϭϳ D Z DhE/ /W > dKD Z ĂƌŐŽ ͬ ĂƌƌĞŝƌĂ ͬ ĂƚĞŐŽƌŝĂ

ƚƌŝďƵŝĕĆŽ ͬ ŽŵƉĞƚġŶĐŝĂƐ

&ŽƌŵĂĕĆŽ ĐĂĚĠŵŝĐĂ

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ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

:ĂƌĚŝŶĞŝƌŽ Ğ KƉĞƌĂĚŽƌ ^ŝůǀşĐŽůĂ Ͳ džĞĐƵƚĂ ƐŽď ŽƌŝĞŶƚĂĕĆŽ͕ ĂƚŝǀŝĚĂĚĞƐ ŽƉĞƌĂƚŝǀĂƐ ĚĞ ũĂƌĚŝŶĂŐĞŵ͕ ƐŝůǀŝĐƵůƚƵƌĂ ĞŶƚƌĞ ĂƐ ƋƵĂŝƐ͗ ƵůƚŝǀĂ ĄƌǀŽƌĞƐ ŽƵ ŽƵƚƌĂƐ ƉůĂŶƚĂƐ Ğ ƐĞŵĞŝĂ ƌĞůǀĂĚŽƐ Ğŵ ƉĂƌƋƵĞƐ͕ ĞƐƉĂĕŽƐ ŽƵ ũĂƌĚŝŶƐ ƉƷďůŝĐŽƐ͕ ƐĞŶĚŽ ƌĞƐƉŽŶƐĄǀĞů ƉŽƌ ƚŽĚĂƐ ĂƐ ŽƉĞƌĂĕƁĞƐ ŝŶĞƌĞŶƚĞƐ ĂŽ ŶŽƌŵĂů ĚĞƐĞŶǀŽůǀŝŵĞŶƚŽ ĚĂƐ ĐƵůƚƵƌĂƐ Ğ ă ƐƵĂ ŵĂŶƵƚĞŶĕĆŽ Ğ ĐŽŶƐĞƌǀĂĕĆŽ͕ ƉƌŽĐĞĚĞ ă ůŝŵƉĞnjĂ Ğ ĐŽŶƐĞƌǀĂĕĆŽ ĚŽƐ ĂƌƌƵĂŵĞŶƚŽƐ Ğ ĐĂŶƚĞŝƌŽƐ͖ ƋƵĂŶĚŽ ĞdžŝƐƚĂŵ ǀŝǀĞŝƌŽƐ ĚĞ ƉůĂŶƚĂƐ͕ ƉƌŽĐĞĚĞ ă ĐƵůƚƵƌĂ ĚĞ ƐĞŵĞŶƚĞƐ͕ ďŽůďŽƐ͕ ƉŽƌƚĂͲĞŶdžĞƌƚŽƐ͕ ĂƌďƵƐƚŽƐ͕ ĄƌǀŽƌĞƐ Ğ ĨůŽƌĞƐ͕ ĂŽ Ăƌ ůŝǀƌĞ ŽƵ Ğŵ ĞƐƚƵĨĂ͕ ƉĂƌĂ ƉƌŽƉĂŐĂĕĆŽ͕ ƉƌĞƉĂƌĂŶĚŽ ŽƐ ǀŝǀĞŝƌŽƐ͕ ĐƌĂǀĂŶĚŽͲŽƐ Ğ ĐŽŵƉŽŶĚŽͲ ŽƐ ĂĚĞƋƵĂĚĂŵĞŶƚĞ ͖ ƉƌŽĐĞĚĞ ŝŐƵĂůŵĞŶƚĞ ă ƐĞŵĞŶƚĞŝƌĂ͕ ƉůĂŶƚĂĕĆŽ͕ ƚƌĂŶƐƉůĂŶƚĂĕĆŽ͕ ĞŶdžĞƌƚŝĂ͕ ƌĞŐĂ͕ ƉƌŽƚĞĕĆŽ ĐŽŶƚƌĂ ŝŶƚĞŵƉĠƌŝĞƐ Ğ ƚƌĂƚĂŵĞŶƚŽƐ ĨŝƚŽƐƐĂŶŝƚĄƌŝŽƐ͕ ƉŽĚĞŶĚŽ ĞǀĞŶƚƵĂůŵĞŶƚĞ ƌĞĂůŝnjĂƌ ĞŶƐĂŝŽƐ ƉĂƌĂ ĐƌŝĂƌ ŶŽǀĂƐ ǀĂƌŝĞĚĂĚĞƐ ĚĞ ƉůĂŶƚĂƐ͖ ŽƉĞƌĂ ĐŽŵ ĚŝǀĞƌƐŽƐ ŝŶƐƚƌƵŵĞŶƚŽƐ ŶĞĐĞƐƐĄƌŝŽƐ ă ƌĞĂůŝnjĂĕĆŽ ĚĂƐ ƚĂƌĞĨĂƐ ŝŶĞƌĞŶƚĞƐ ă ĨƵŶĕĆŽ ĚĞ ũĂƌĚŝŶĂŐĞŵ͕ ƋƵĞ ƉŽĚĞŵ ƐĞƌ ŵĂŶƵĂŝƐ ŽƵ ŵĞĐąŶŝĐŽƐ͖ Ġ ƌĞƐƉŽŶƐĄǀĞů ƉĞůĂ ůŝŵƉĞnjĂ͕ ĂĨŝŶĂĕĆŽ Ğ ůƵďƌŝĨŝĐĂĕĆŽ ĚŽ ĞƋƵŝƉĂŵĞŶƚŽ ŵĞĐąŶŝĐŽ͖ ƉƌŽĐĞĚĞ Ă ƉĞƋƵĞŶĂƐ ƌĞƉĂƌĂĕƁĞƐ͕ ƉƌŽǀŝĚĞŶĐŝĂŶĚŽ Ğŵ ĐĂƐŽ ĚĞ ĂǀĂƌŝĂƐ ŵĂŝŽƌĞƐ Ž ĂƌƌĂŶũŽ ĚŽ ŵĂƚĞƌŝĂů͖ Ġ ƌĞƐƉŽŶƐĄǀĞů ƉĞůŽƐ ĞƋƵŝƉĂŵĞŶƚŽƐ ƐŽď Ă ƐƵĂ ŐƵĂƌĚĂ Ğ ƉĞůĂ ĐŽƌƌĞƚĂ ƵƚŝůŝnjĂĕĆŽ͕ ƉƌŽĐĞĚĞŶĚŽ͕ ƋƵĂŶĚŽ ŶĞĐĞƐƐĄƌŝŽ͕ ă ŵĂŶƵƚĞŶĕĆŽ Ğ ƌĞƉĂƌĂĕĆŽ ĚŽƐ ŵĞƐŵŽƐ͕ Ġ ƌĞƐƉŽŶƐĄǀĞů ƉĞůĂ ƚŽƚĂů ƌĞŵŽĕĆŽ ĚŽƐ ƐŽďƌĂŶƚĞƐ ĚŽƐ ƉĂƌƋƵĞƐ͕ ĞƐƉĂĕŽƐ͕ ũĂƌĚŝŶƐ ŽƵ ǀŝĂƐ ƉƷďůŝĐĂƐ͕ Ğŵ ƌĞƐƵůƚĂĚŽ ĚĂ ƐƵĂ ĂƚŝǀŝĚĂĚĞ͕ Ġ ĂŝŶĚĂ ƌĞƐƉŽŶƐĄǀĞů ƉŽƌ ƚŽĚĂ Ă ƐŝůǀŝĐƵůƚƵƌĂ ƉƌĞǀĞŶƚŝǀĂ Ğ ƚƌĂďĂůŚŽ ƐĂƉĂĚŽƌ ĨůŽƌĞƐƚĂů ƋƵĞ ůŚĞ ĨŽƌ ŝŶĐƵŵďŝĚĂ ƐƵƉĞƌŝŽƌŵĞŶƚĞ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

>ƵďƌŝĨŝĐĂĚŽƌ Ͳ WƌŽĐĞĚĞ ă ůƵďƌŝĨŝĐĂĕĆŽ ƉŽƌ ƉƌĞƐƐĆŽ Ğ ŽƵ ŐƌĂǀŝĚĂĚĞ ĚŽƐ ƉŽŶƚŽƐ ĚĞ ŵĄƋƵŝŶĂƐ ŽƵ ĞƋƵŝƉĂŵĞŶƚŽƐ ŽŶĚĞ ŚĂũĂ ĂƚƌŝƚŽ͕ ƵƚŝůŝnjĂŶĚŽ ĨĞƌƌĂŵĞŶƚĂƐ ĂƉƌŽƉƌŝĂĚĂƐ͕ ſůĞŽƐ Ğ ŵĂƐƐĂ ůƵďƌŝĨŝĐĂŶƚĞƐ ĐŽŵ ǀŝƐƚĂ ă ĐŽŶƐĞƌǀĂĕĆŽ Ğ ŶŽƌŵĂů ĨƵŶĐŝŽŶĂŵĞŶƚŽ͖ ĞƐƚƵĚĂ͕ ĚĞ ĂĐŽƌĚŽ ĐŽŵ ĞƐƋƵĞŵĂƐ ŽƵ ŝŶƐƚƌƵĕƁĞƐ ƌĞĐĞďŝĚĂƐ͕ Ž ƉƌŽĐĞƐƐĂŵĞŶƚŽ ĚŽ ƚƌĂďĂůŚŽ Ă ĞdžĞĐƵƚĂƌ͖ ƉƌĞƉĂƌĂ Ž ŵĂƚĞƌŝĂů Ğ ĨĞƌƌĂŵĞŶƚĂƐ Ă ƵƚŝůŝnjĂƌ͖ ƉŽƌ ǀĞnjĞƐ͕ Ġ ŝŶĐƵŵďŝĚŽ ĚĞ ĨĂnjĞƌ ƉĞƋƵĞŶĂƐ ĂĨŝŶĂĕƁĞƐ͕ ĂƉĞƌƚĂƌ ƉĞĕĂƐ ĐŽŵ ĨŽůŐĂ ŽƵ ĐŚĂŵĂƌ Ă ĂƚĞŶĕĆŽ ĚŽ ĞŶĐĂƌƌĞŐĂĚŽ ƉĂƌĂ ĚĞĨĞŝƚŽƐ ĚĞƚĞƚĂĚŽƐ Ă Ĩŝŵ ĚĞ ƐĞƌĞŵ ƌĞƉĂƌĂĚŽƐ͖ ůŝŵƉĂ Ğ ůĂǀĂ ǀŝĂƚƵƌĂƐ͖ Ġ ƌĞƐƉŽŶƐĄǀĞů ƉĞůŽƐ ĞƋƵŝƉĂŵĞŶƚŽƐ ƐŽď Ă ƐƵĂ ŐƵĂƌĚĂ Ğ ƉĞůĂ ĐŽƌƌĞƚĂ ƵƚŝůŝnjĂĕĆŽ͕ ƉƌŽĐĞĚĞŶĚŽ͕ ƋƵĂŶĚŽ ŶĞĐĞƐƐĄƌŝŽ͕ ă ŵĂŶƵƚĞŶĕĆŽ ĚŽƐ ŵĞƐŵŽƐ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

DĂƋƵŝŶŝƐƚĂ dĞĂƚƌĂů Ͳ KƌŝĞŶƚĂ Ă ƉƌĞƉĂƌĂĕĆŽ Ğ ŵƵĚĂŶĕĂƐ ĚĂƐ ĐĞŶĂƐ Ğŵ ƌĞƉƌĞƐĞŶƚĂĕƁĞƐ ƚĞĂƚƌĂŝƐ͕ ŵŽŶƚĂͲĂƐ ŽƵ ĚŝƌŝŐĞ Ă ƐƵĂ ŵŽŶƚĂŐĞŵ͖ ĞƐƚƵĚĂ Ž ƌŽƚĞŝƌŽ ĚŽ ĞƐƉĞƚĄĐƵůŽ͕ ĐŽŶĐĞďĞ ĐĞŶĄƌŝŽƐ Ğ ĐŽƌƚŝŶĂƐ ĚĞ ĐĞŶĂ͖ ĞƐƚƵĚĂ Ž ƌŽƚĞŝƌŽ ĚŽ ĞƐƉĞƚĄĐƵůŽ͕ ĐŽŶĐĞďĞ ĐĞŶĄƌŝŽƐ Ğ ĐŽƌƚŝŶĂƐ ĚĞ ĐĞŶĂ͖ ĚĄ ŝŶƐƚƌƵĕƁĞƐ ĂŽ ĐĂƌƉŝŶƚĞŝƌŽ ĚĞ ĐĞŶĂ ƐŽďƌĞ Ă ĐŽŶƐƚƌƵĕĆŽ ĚĞ ĐĞŶĄƌŝŽƐ͕ ƉĂůĐŽƐ͕ ƚĞŝĂƐ Ğ ŽƵƚƌŽƐ ĞůĞŵĞŶƚŽƐ͖ ŵŽŶƚĂ ŽƵ ŽƌŝĞŶƚĂ Ă ŵŽŶƚĂŐĞŵ ĚĂƐ ĐĞŶĂƐ Ğ ĚĄ ŝŶĚŝĐĂĕƁĞƐ ƉĂƌĂ ĂƐ ŵƵĚĂŶĕĂƐ Ă ĞĨĞƚƵĂƌ Ğŵ ĐĂĚĂ ĂƚŽ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

DĞĐąŶŝĐŽ Ͳ ĞƚĞƚĂ ĂƐ ĂǀĂƌŝĂƐ ŵĞĐąŶŝĐĂƐ͖ ƌĞƉĂƌĂ͕ ĂĨŝŶĂ͕ ŵŽŶƚĂ Ğ ĚĞƐŵŽŶƚĂ ŽƐ ſƌŐĆŽƐ ĚĞ ǀŝĂƚƵƌĂƐ ůŝŐĞŝƌĂƐ Ğ ƉĞƐĂĚĂƐ Ă ŐĂƐŽůŝŶĂ ŽƵ Ă ĚŝĞƐĞů͕ ďĞŵ ĐŽŵŽ ŽƵƚƌŽƐ ĞƋƵŝƉĂŵĞŶƚŽƐ ŵŽƚŽƌŝnjĂĚŽƐ ŽƵ ŶĆŽ͖ ĞdžĞĐƵƚĂ ŽƵƚƌŽƐ ƚƌĂďĂůŚŽƐ ĚĞ ŵĞĐąŶŝĐĂ ŐĞƌĂů͖ ĂĨŝŶĂ͕ ĞŶƐĂŝĂ Ğ ĐŽŶĚƵnj Ğŵ ĞdžƉĞƌŝġŶĐŝĂ ĂƐ ǀŝĂƚƵƌĂƐ ƌĞƉĂƌĂĚĂƐ͖ ĨĂnj Ă ŵĂŶƵƚĞŶĕĆŽ Ğ Ž ĐŽŶƚƌŽůŽ ĚĞ ŵĄƋƵŝŶĂƐ Ğ ŵŽƚŽƌĞƐ͖ Ġ ƌĞƐƉŽŶƐĄǀĞů ƉĞůŽƐ ĞƋƵŝƉĂŵĞŶƚŽƐ ƐŽď Ă ƐƵĂ ŐƵĂƌĚĂ Ğ ƉĞůĂ ĐŽƌƌĞƚĂ ƵƚŝůŝnjĂĕĆŽ͕ ƉƌŽĐĞĚĞŶĚŽ͕ ƋƵĂŶĚŽ ŶĞĐĞƐƐĄƌŝŽ͕ ă ŵĂŶƵƚĞŶĕĆŽ Ğ ƌĞƉĂƌĂĕĆŽ ĚŽƐ ŵĞƐŵŽƐ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

DŽƚŽƌŝƐƚĂ ĚĞ >ŝŐĞŝƌŽƐ Ͳ ŽŶĚƵnj ǀŝĂƚƵƌĂƐ ůŝŐĞŝƌĂƐ ƉĂƌĂ ƚƌĂŶƐƉŽƌƚĞ ĚĞ ďĞŶƐ Ğ ƉĞƐƐŽĂƐ͕ ƚĞŶĚŽ Ğŵ ĂƚĞŶĕĆŽ Ă ƐĞŐƵƌĂŶĕĂ ĚŽƐ ƵƚŝůŝnjĂĚŽƌĞƐ Ğ ĚŽƐ ďĞŶƐ͖ ĐƵŝĚĂ ĚĂ ŵĂŶƵƚĞŶĕĆŽ ĚĂƐ ǀŝĂƚƵƌĂƐ ƋƵĞ ůŚĞ ĨŽƌĞŵ ĚŝƐƚƌŝďƵşĚĂƐ͖ ƌĞĐĞďĞ Ğ ĞŶƚƌĞŐĂ ĞdžƉĞĚŝĞŶƚĞ ŽƵ ĞŶĐŽŵĞŶĚĂƐ͖ ƉĂƌƚŝĐŝƉĂ ƐƵƉĞƌŝŽƌŵĞŶƚĞ ĂƐ ĂŶŽŵĂůŝĂƐ ǀĞƌŝĨŝĐĂĚĂƐ͖ Ġ ƌĞƐƉŽŶƐĄǀĞů ƉĞůŽƐ ĞƋƵŝƉĂŵĞŶƚŽƐ ƐŽď Ă ƐƵĂ ŐƵĂƌĚĂ Ğ ƉĞůĂ ĐŽƌƌĞƚĂ ƵƚŝůŝnjĂĕĆŽ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ Ğ ĐĂƌƚĂ ĚĞ ĐŽŶĚƵĕĆŽ ĂĚĞƋƵĂĚĂ͕ ĐŽŶĨŽƌŵĞ ůĞŐŝƐůĂĕĆŽ Ğŵ ǀŝŐŽƌ

WƌĂĕĂ ĚĂ ZĞƉƷďůŝĐĂ ͼ dĞů͘ Ϯϰϵ ϯϮϵ ϴϴϱ ͼ &Ădž Ϯϰϵ ϯϮϵ ϴϬϵ ͼ ͲŵĂŝů͗ ƉƌĞƐŝĚĞŶĐŝĂΛĐŵͲƚŽŵĂƌ͘Ɖƚ ͼ ϮϯϬϬͲϱϱϬ dŽŵĂƌ WĞƐƐŽĂ ŽůĞƚŝǀĂ Ŷ͘Ǒ ϱϬϲ ϳϯϴ ϵϭϰ

ŶĞdžŽ ĂŽ DĂƉĂ ĚĞ WĞƐƐŽĂů Ͳ ϮϬϭϳ D Z DhE/ /W > dKD Z

ĂƌŐŽ ͬ ĂƌƌĞŝƌĂ ͬ ĂƚĞŐŽƌŝĂ

ƚƌŝďƵŝĕĆŽ ͬ ŽŵƉĞƚġŶĐŝĂƐ

&ŽƌŵĂĕĆŽ ĐĂĚĠŵŝĐĂ

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ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

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ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

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ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ŶĞdžŽ ĂŽ DĂƉĂ ĚĞ WĞƐƐŽĂů Ͳ ϮϬϭϳ D Z DhE/ /W > dKD Z ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

WĂƌƋƵĞƐ Ğ /ŶƐƚĂůĂĕƁĞƐ Ͳ /ŶĐƵŵďĞ ŐĞŶĞƌŝĐĂŵĞŶƚĞ ǀŝŐŝĂƌ Ğ njĞůĂƌ ƉĞůĂ ƐĞŐƵƌĂŶĕĂ Ğ ĐŽŶƐĞƌǀĂĕĆŽ ĚĂƐ ŝŶƐƚĂůĂĕƁĞƐ ĚĞ ƉĂƌƋƵĞƐ Ğ ŽƵƚƌĂƐ ŝŶƐƚĂůĂĕƁĞƐ͕ ĐŽŶƚƌŽůĂƌ Ă ĞŶƚƌĂĚĂ Ğ ƐĂşĚĂ ĚĞ ƉĞƐƐŽĂƐ͕ ǀĞşĐƵůŽƐ Ğ ĂŶŝŵĂŝƐ͕ ƉƌŽĐĞĚĞƌ ă ǀĞŶĚĂ ĚĞ ƐĞŶŚĂƐ ƉĂƌĂ Ă ƵƚŝůŝnjĂĕĆŽ ĚĂƐ ŝŶƐƚĂůĂĕƁĞƐ ĞĨĞƚƵĂƌ Ž ƌĞŐŝƐƚŽ ĚĞ ƵƚŝůŝnjĂĚŽƌĞƐ͖ ĞdžĞĐƵƚĂ ŽƵƚƌĂƐ ƚĂƌĞĨĂƐ ƐŝŵƉůĞƐ͕ ŶĆŽ ĞƐƉĞĐŝĨŝĐĂĚĂƐ͕ ĚĞ ĐĂƌĄĐƚĞƌ ŵĂŶƵĂů Ğ ĞdžŝŐŝŶĚŽ ƉƌŝŶĐŝƉĂůŵĞŶƚĞ ĞƐĨŽƌĕŽ ĨşƐŝĐŽ Ğ ĐŽŶŚĞĐŝŵĞŶƚŽƐ ƉƌĄƚŝĐŽƐ͕ ĞdžĞĐƵƚĂŶĚŽ ƉĞƋƵĞŶĂƐ ŵĂŶƵƚĞŶĕƁĞƐ Ğ ůŝŵƉĞnjĂƐ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ĂƌŐŽ ͬ ĂƌƌĞŝƌĂ ͬ ĂƚĞŐŽƌŝĂ

ƚƌŝďƵŝĕĆŽ ͬ ŽŵƉĞƚġŶĐŝĂƐ

&ŽƌŵĂĕĆŽ ĐĂĚĠŵŝĐĂ

WĞĚƌĞŝƌŽ Ͳ ƉĂƌĞůŚĂ ƉĞĚƌĂ Ğŵ ŐƌŽƐƐŽ͖ ĞdžĞĐƵƚĂ ĂůǀĞŶĂƌŝĂ ĚĞ ƉĞĚƌĂ͕ ƚŝũŽůŽ ŽƵ ďůŽĐŽƐ ĚĞ ĐŝŵĞŶƚŽ͕ ƉŽĚĞŶĚŽ ƚĂŵďĠŵ ĨĂnjĞƌ Ž ƌĞƐƉĞƚŝǀŽ ƌĞďŽĐŽ͖ ƉƌŽĐĞĚĞ ĂŽ ĂƐƐĞŶƚĂŵĞŶƚŽ ĚĞ ŵĂŶŝůŚĂƐ͕ ƚƵďŽƐ Ğ ĐĂŶƚĂƌŝĂƐ͖ ĞdžĞĐƵƚĂ ŵƵƌŽƐ Ğ ĞƐƚƌƵƚƵƌĂƐ ƐŝŵƉůĞƐ͕ ĐŽŵ ŽƵ ƐĞŵ ĂƌŵĂĚƵƌĂƐ͕ ƉŽĚĞŶĚŽ ƚĂŵďĠŵ ĞŶĐĂƌƌĞŐĂƌͲƐĞ ĚĞ ŵŽŶƚĂŐĞŵ ĚĞ ĂƌŵĂĚƵƌĂƐ ŵƵŝƚŽ ƐŝŵƉůĞƐ͖ ĞdžĞĐƵƚĂ ŽƵƚƌŽƐ ƚƌĂďĂůŚŽƐ ƐŝŵŝůĂƌĞƐ ŽƵ ĐŽŵƉůĞŵĞŶƚĂƌĞƐ ĚŽƐ ĚĞƐĐƌŝƚŽƐ͖ Ġ ƌĞƐƉŽŶƐĄǀĞů ƉĞůŽƐ ĞƋƵŝƉĂŵĞŶƚŽƐ ƐŽď Ă ƐƵĂ ŐƵĂƌĚĂ Ğ ƉĞůĂ ĐŽƌƌĞƚĂ ƵƚŝůŝnjĂĕĆŽ͕ ƉƌŽĐĞĚĞŶĚŽ͕ ƋƵĂŶĚŽ ŶĞĐĞƐƐĄƌŝŽ͕ ă ŵĂŶƵƚĞŶĕĆŽ Ğ ƌĞƉĂƌĂĕĆŽ ĚŽƐ ŵĞƐŵŽƐ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

WŝŶƚŽƌ Ͳ ƉůŝĐĂ ĐĂŵĂĚĂƐ ĚĞ ƚŝŶƚĂ͕ ǀĞƌŶŝnj ŽƵ ŽƵƚƌŽƐ ƉƌŽĚƵƚŽƐ ĂĨŝŶƐ͕ ƉƌŝŶĐŝƉĂůŵĞŶƚĞ ƐŽďƌĞ ƐƵƉĞƌĨşĐŝĞƐ ĚĞ ĞƐƚƵƋƵĞ͕ ƌĞďŽĐŽ͕ ŵĂĚĞŝƌĂ Ğ ŵĞƚĂů͕ ƉĂƌĂ ĂƐ ƉƌŽƚĞŐĞƌ͖ ǀĞƌŝĨŝĐĂ Ă ƋƵĂůŝĚĂĚĞ ĚŽ ƚƌĂďĂůŚŽ ƉƌŽĚƵnjŝĚŽ͖ ĐƌŝĂ ĚĞƚĞƌŵŝŶĂĚŽƐ ĞĨĞŝƚŽƐ ŽƌŶĂŵĞŶƚĂŝƐ͕ ƋƵĂŶĚŽ ŶĞĐĞƐƐĄƌŝŽ͖ ƉŽƌ ǀĞnjĞƐ͕ ŽƌĕĂŵĞŶƚĂ ƚƌĂďĂůŚŽƐ͕ ĂƐƐĞŶƚĂ Ğ ƐƵďƐƚŝƚƵŝ ǀŝĚƌŽƐ Ğ ĨŽƌƌĂ ƉĂƌĞĚĞƐ͕ ůĂŵďƌŝƐ Ğ ƚĞƚŽƐ ĐŽŵ ƉĂƉĞů ƉŝŶƚĂĚŽ͖ Ġ ƌĞƐƉŽŶƐĄǀĞů ƉĞůŽƐ ĞƋƵŝƉĂŵĞŶƚŽƐ ƐŽď Ă ƐƵĂ ŐƵĂƌĚĂ Ğ ƉĞůĂ ĐŽƌƌĞƚĂ ƵƚŝůŝnjĂĕĆŽ͕ ƉƌŽĐĞĚĞŶĚŽ͕ ƋƵĂŶĚŽ ŶĞĐĞƐƐĄƌŝŽ͕ ă ŵĂŶƵƚĞŶĕĆŽ Ğ ƌĞƉĂƌĂĕĆŽ ĚŽƐ ŵĞƐŵŽƐ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

^ĞƌƌĂůŚĞŝƌŽ DĞĐąŶŝĐŽ Ͳ ZĞƉĂƌĂ Ğ ĐŽŶƐĞƌǀĂ ǀĄƌŝŽƐ ƚŝƉŽƐ ĚĞ ŵĄƋƵŝŶĂƐ͕ ŵŽƚŽƌĞƐ Ğ ŽƵƚƌŽƐ ĐŽŶũƵŶƚŽƐ ŵĞĐąŶŝĐŽƐ͕ ŐĞƌĂůŵĞŶƚĞ ĚĞ ŵĞƚĂů͕ ĐŽŵ ĞdžĐĞĕĆŽ ĚŽƐ ŝŶƐƚƌƵŵĞŶƚŽƐ ĚĞ ƉƌĞĐŝƐĆŽ Ğ ĚĂƐ ŝŶƐƚĂůĂĕƁĞƐ ĞůĠƚƌŝĐĂƐ͖ ǀĞƌŝĨŝĐĂ͕ ĂũƵƐƚĂ Ğ ůƵďƌŝĨŝĐĂ ƉĞƌŝŽĚŝĐĂŵĞŶƚĞ ŽƐ ĂƉĂƌĞůŚŽƐ ŽƵ ĨŝƐĐĂůŝnjĂ ĞƐƚĞƐ ƚƌĂďĂůŚŽƐ Ğ ĞdžĞĐƵƚĂ ŽƵƚƌĂƐ ƚĂƌĞĨĂƐ ƉĂƌĂ ŵĂŶƚĞƌ Ğŵ ďŽŵ ĞƐƚĂĚŽ ĚĞ ĨƵŶĐŝŽŶĂŵĞŶƚŽ ŽƐ ŵĞƐŵŽƐ͕ ĨĂnjĞŶĚŽ Ž ƌĞŐŝƐƚŽ ĚŽ ƌĞŶĚŝŵĞŶƚŽ Ğ ĚĂƐ ƉĞĕĂƐ ĞdžĂŵŝŶĂĚĂƐ͖ ƉŽƌ ǀĞnjĞƐ ƐŽůĚĂ ĚĞƚĞƌŵŝŶĂĚĂƐ ƉĞĕĂƐ Ğ ŵŽŶƚĂ ĂƉĂƌĞůŚŽƐ͖ Ġ ƌĞƐƉŽŶƐĄǀĞů ƉĞůŽƐ ĞƋƵŝƉĂŵĞŶƚŽƐ ƐŽď Ă ƐƵĂ ŐƵĂƌĚĂ Ğ ƉĞůĂ ĐŽƌƌĞƚĂ ƵƚŝůŝnjĂĕĆŽ͕ ƉƌŽĐĞĚĞŶĚŽ͕ ƋƵĂŶĚŽ ŶĞĐĞƐƐĄƌŝŽ͕ ă ŵĂŶƵƚĞŶĕĆŽ Ğ ƌĞƉĂƌĂĕĆŽ ĚŽƐ ŵĞƐŵŽƐ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

^ŽŶŽƉůĂƐƚĂ Ͳ /ŶĚŝǀŝĚƵĂůŵĞŶƚĞ ŽƵ Ğŵ ĐŽůĂďŽƌĂĕĆŽ ĐŽŵ ŽƵƚƌŽƐ ƉƌŽĨŝƐƐŝŽŶĂŝƐ ƉƌŽĐĞĚĞ ă ŵŽŶƚĂŐĞŵ͕ ŝŶƐƚĂůĂĕĆŽ Ğ ŽƉĞƌĂĕĆŽ ĚĞ ĞƋƵŝƉĂŵĞŶƚŽƐ ĚĞƐƚŝŶĂĚŽƐ ĂŽ ƚƌĂƚĂŵĞŶƚŽ͕ ĂŵƉůŝĨŝĐĂĕĆŽ ŽƵ ŐƌĂǀĂĕĆŽ ĚĞ ƐŽŶƐ͖ ƐĞůĞĐŝŽŶĂ ŵƷƐŝĐĂƐ Ğ ŽƵƚƌŽƐ ĞĨĞŝƚŽƐ ƐŽŶŽƌŽƐ ĐŽŵ Ž ŝŶƚƵŝƚŽ ĚĞ ŽƐ ŝŶƚƌŽĚƵnjŝƌ Ğŵ ĞƐƉĞƚĄĐƵůŽƐ ĚĞ ǀĄƌŝĂ ŽƌĚĞŵ ;ĚĞƐŝŐŶĂĚĂŵĞŶƚĞ ƚĞĂƚƌŽ͕ ƚĞůĞǀŝƐĆŽ͕ ĐŽŶŐƌĞƐƐŽƐ͕ ĐŽŶĨĞƌġŶĐŝĂƐͿ Ă ƉĂƌƚŝƌ ĚĂ ůĞŝƚƵƌĂ ĚĞ ƚĞdžƚŽƐͬƉůĂŶŽƐ ĚŽ ĞǀĞŶƚŽ ŽƵ ĚĂ ƉĂƌƚŝĐŝƉĂĕĆŽ ŶŽ ĞŶƐĂŝŽ ĚŽ ŵĞƐŵŽ͖ ƉƌŽĐĞĚĞ ă ůŽĐĂůŝnjĂĕĆŽ ĚĂƐ ƐĂşĚĂƐ ĚĞ ƐŽŵ Ğ ƌĞƐƉĞƚŝǀŽƐ ǀŽůƵŵĞƐ Ğ ĐŽŶĐĞďĞ Ž ĞƐƋƵĞŵĂ Ă ƵƚŝůŝnjĂƌ ŶĂ ŐƌĂǀĂĕĆŽ ĚŽ ĞǀĞŶƚŽ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

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ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

ŶĞdžŽ ĂŽ DĂƉĂ ĚĞ WĞƐƐŽĂů Ͳ ϮϬϭϳ D Z DhE/ /W > dKD Z

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

dĞůĞĨŽŶŝƐƚĂ Ͳ ƐƚĂďĞůĞĐĞ ůŝŐĂĕƁĞƐ ƚĞůĞĨſŶŝĐĂƐ ƉĂƌĂ Ž ĞdžƚĞƌŝŽƌ Ğ ƚƌĂŶƐŵŝƚĞ ĂŽƐ ƚĞůĞĨŽŶĞƐ ŝŶƚĞƌŶŽƐ ĐŚĂŵĂĚĂƐ ƌĞĐĞďŝĚĂƐ͖ ƉƌĞƐƚĂ ŝŶĨŽƌŵĂĕƁĞƐ͕ ĚĞŶƚƌŽ ĚŽ ƐĞƵ ąŵďŝƚŽ͖ ƌĞŐŝƐƚĂ Ž ŵŽǀŝŵĞŶƚŽ ĚĞ ĐŚĂŵĂĚĂƐ Ğ ĂŶŽƚĂ͕ ƐĞŵƉƌĞ ƋƵĞ ŶĞĐĞƐƐĄƌŝŽ͕ ĂƐ ŵĞŶƐĂŐĞŶƐ ƋƵĞ ƌĞƐƉĞŝƚĂŵ Ă ĂƐƐƵŶƚŽƐ ĚĞ ƐĞƌǀŝĕŽ Ğ ƚƌĂŶƐŵŝƚĞͲĂƐ ƉŽƌ ĞƐĐƌŝƚŽ ŽƵ ŽƌĂůŵĞŶƚĞ͖ njĞůĂ ƉĞůĂ ĐŽŶƐĞƌǀĂĕĆŽ ĚŽ ŵĂƚĞƌŝĂů ă ƐƵĂ ŐƵĂƌĚĂ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ĂƌŐŽ ͬ ĂƌƌĞŝƌĂ ͬ ĂƚĞŐŽƌŝĂ

ƚƌŝďƵŝĕĆŽ ͬ ŽŵƉĞƚġŶĐŝĂƐ

&ŽƌŵĂĕĆŽ ĐĂĚĠŵŝĐĂ

ŚĞĨĞ

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^ƵďĐŚĞĨĞ ϭǐ ůĂƐƐĞ Ϯǐ ůĂƐƐĞ

ŽŵďĞŝƌŽ DƵŶŝĐŝƉĂů Ͳ ŽŵďĂƚĞƌ ŽƐ ŝŶĐġŶĚŝŽƐ͕ ƉƌĞƐƚĂƌ ƐŽĐŽƌƌŽ ăƐ ƉŽƉƵůĂĕƁĞƐ Ğŵ ĐĂƐŽ ĚĞ ŝŶĐġŶĚŝŽ͕ ŝŶƵŶĚĂĕƁĞƐ͕ ĚĞƐĂďĂŵĞŶƚŽƐ͕ ĂďĂůƌŽĂŵĞŶƚŽƐ Ğ Ğŵ ƚŽĚŽƐ ŽƐ ĂĐŝĚĞŶƚĞƐ͕ ĐĂƚĄƐƚƌŽĨĞƐ ŽƵ ĐĂůĂŵŝĚĂĚĞƐ͕ ƉƌĞƐƚĂƌ ƐŽĐŽƌƌŽ Ă ŶĄƵĨƌĂŐŽƐ Ğ ĨĂnjĞƌ ďƵƐĐĂƐ ƐƵďĂƋƵĄƚŝĐĂƐ͖ ĞdžĞƌĐĞƌ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ƐŽĐŽƌƌŽ Ğ ƚƌĂŶƐƉŽƌƚĞ ĚĞ ƐŝŶŝƐƚƌĂĚŽƐ Ğ ĚŽĞŶƚĞƐ͕ ŝŶĐůƵŝŶĚŽ Ă ƵƌŐġŶĐŝĂ ƉƌĠͲŚŽƐƉŝƚĂůĂƌ͖ ĨĂnjĞƌ Ă ƉƌŽƚĞĕĆŽ ĐŽŶƚƌĂŝŶĐġŶĚŝŽƐ Ğŵ ĞĚŝĨşĐŝŽƐ ƉƷďůŝĐŽƐ͕ ĐĂƐĂƐ ĚĞ ĞƐƉĞƚĄĐƵůŽƐ Ğ ĚŝǀĞƌƚŝŵĞŶƚŽ ƉƷďůŝĐŽ Ğ ŽƵƚƌŽƐ EŽƐ ƚĞƌŵŽƐ ĚŽ ƌĞĐŝŶƚŽƐ͕ ŵĞĚŝĂŶƚĞ ƐŽůŝĐŝƚĂĕĆŽ Ğ ĚĞ ĂĐŽƌĚŽ ĐŽŵ ĂƐ ŶŽƌŵĂƐ Ğŵ ǀŝŐŽƌ͕ ŶŽŵĞĂĚĂŵĞŶƚĞ ƉƌĞƐƚĂŶĚŽ ƐĞƌǀŝĕŽ ĚĞ ǀŝŐŝůąŶĐŝĂ ĚƵƌĂŶƚĞ Ă ƌĞĂůŝnjĂĕĆŽ ĚĞ ĞǀĞŶƚŽƐ ƉƷďůŝĐŽƐ͖ ƌĞŐƵůĂŵĞŶƚŽ ĚĞ ŝŶŐƌĞƐƐŽ ĐŽůĂďŽƌĂƌ Ğŵ ŽƵƚƌĂƐ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ƉƌŽƚĞĕĆŽ Đŝǀŝů͕ ŶŽ ąŵďŝƚŽ ĚŽ ĞdžĞƌĐşĐŝŽ ĚĂƐ ĨƵŶĕƁĞƐ ĞƐƉĞĐŝĨŝĐĂƐ ƋƵĞ ůŚĞƐ ĨŽƌĞŵ ĐŽŵĞƚŝĚĂƐ Ğŵŝƚŝƌ͕ ŶŽƐ ƚĞƌŵŽƐ ĚĂ ůĞŝ͕ Ğ ƉƌŽŵŽĕĆŽ ĚĂ ĐĂƌƌĞŝƌĂ ƉĂƌĞĐĞƌĞƐ ƚĠĐŶŝĐŽƐ Ğŵ ŵĂƚĠƌŝĂ ĚĞ ƉƌŽƚĞĕĆŽ ĐŽŶƚƌĂ ŝŶĐġŶĚŝŽƐ Ğ ŽƵƚƌŽƐ ƐŝŶŝƐƚƌŽƐ͖ ĞdžĞƌĐĞƌ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĨŽƌŵĂĕĆŽ ĐşǀŝĐĂ͕ ĐŽŵ ĞƐƉĞĐŝĂů ŝŶĐŝĚġŶĐŝĂ ŶŽƐ ĚŽŵşŶŝŽƐ ĚĞ ďŽŵďĞŝƌŽ ŵƵŶŝĐŝƉĂů ĚĂ ƉƌĞǀĞŶĕĆŽ ĐŽŶƚƌĂ Ž ƌŝƐĐŽ ĚĞ ŝŶĐġŶĚŝŽ Ğ ŽƵƚƌŽƐ ĂĐŝĚĞŶƚĞƐ ĚŽŵĠƐƚŝĐŽƐ͖ ƉĂƌƚŝĐŝƉĂƌ ŶŽƵƚƌĂƐ ĂĕƁĞƐ͕ ƉĂƌĂ ĂƐ ƋƵĂŝƐ ĞƐƚĞũĂŵ ƚĞĐŶŝĐĂŵĞŶƚĞ ƉƌĞƉĂƌĂĚŽƐ Ğ ƐĞ ĞŶƋƵĂĚƌĞŵ ŶŽƐ ƐĞƵƐ ĨŝŶƐ ĞƐƉĞĐşĨŝĐŽƐ͘

ϯǐ ůĂƐƐĞ

ƐƉĞĐŝĂůŝƐƚĂ WƌŝŶĐŝƉĂů ƐƉĞĐŝĂůŝƐƚĂ WƌŝŶĐŝƉĂů ϭǐ ůĂƐƐĞ

&ŝƐĐĂů DƵŶŝĐŝƉĂů Ͳ &ŝƐĐĂůŝnjĂ Ğ ĨĂnj ĐƵŵƉƌŝƌ ŽƐ ƌĞŐƵůĂŵĞŶƚŽƐ͕ ƉŽƐƚƵƌĂƐ ŵƵŶŝĐŝƉĂŝƐ Ğ ĚĞŵĂŝƐ ĚŝƐƉŽƐŝƚŝǀŽƐ ůĞŐĂŝƐ ƌĞůĂƚŝǀŽƐ Ă ĄƌĞĂƐ ĚĞ ŽĐƵƉĂĕĆŽ ĚĂ ǀŝĂ ƉƷďůŝĐĂ͕ ϭϮǑ ĂŶŽ ĚĞ ĞƐĐŽůĂƌŝĚĂĚĞ Ğ ƉƵďůŝĐŝĚĂĚĞ͕ ƚƌąŶƐŝƚŽ͕ ŽďƌĂƐ ƉĂƌƚŝĐƵůĂƌĞƐ͕ ĂďĞƌƚƵƌĂ Ğ ĨƵŶĐŝŽŶĂŵĞŶƚŽ ĚĞ ĞƐƚĂďĞůĞĐŝŵĞŶƚŽƐ ĐŽŵĞƌĐŝĂŝƐ ŽƵ ŝŶĚƵƐƚƌŝĂŝƐ͕ ƉƌĞƐĞƌǀĂĕĆŽ ĚŽ ĂŵďŝĞŶƚĞ ŶĂƚƵƌĂů͕ Ƶŵ ĐƵƌƐŽ ĞƐƉĞĐŝĨŝĐŽ Ă ĚĞƉŽƐŝĕĆŽ͕ ƌĞŵŽĕĆŽ͕ ƚƌĂŶƐƉŽƌƚĞ͕ ƚƌĂƚĂŵĞŶƚŽ Ğ ĚĞƐƚŝŶŽ ĨŝŶĂů ĚŽƐ ƌĞƐşĚƵŽƐ ƐſůŝĚŽƐ͕ ƉƷďůŝĐŽƐ͕ ĚŽŵĠƐƚŝĐŽƐ Ğ ĐŽŵĞƌĐŝĂŝƐ͕ ƉƌĞƐĞƌǀĂĕĆŽ ĚŽ ƉĂƚƌŝŵſŶŝŽ͕ ƐĞŐƵƌĂŶĕĂ ŵŝŶŝƐƚƌĂƌ ƉĞůŽ & ŶŽ ƚƌĂďĂůŚŽ Ğ ĨŝƐĐĂůŝnjĂĕĆŽ ƉƌĞǀĞŶƚŝǀĂ ĚŽ ƚĞƌƌŝƚſƌŝŽ͖ ƉƌĞƐƚĂ ŝŶĨŽƌŵĂĕƁĞƐ ƐŽďƌĞ ƐŝƚƵĂĕƁĞƐ ĚĞ ĨĂĐƚŽ ĐŽŵ ǀŝƐƚĂ ă ŝŶƐƚƌƵĕĆŽ ĚĞ ƉƌŽĐĞƐƐŽƐ ŵƵŶŝĐŝƉĂŝƐ ŶĂƐ ĄƌĞĂƐ ĚĂ ; ĞŶƚƌŽ ĚĞ ƐƚƵĚŽƐ Ğ ƐƵĂ ĂƚƵĂĕĆŽ ĞƐƉĞĐşĨŝĐĂ͘ &ŽƌŵĂĕĆŽ ƵƚĄƌƋƵŝĐĂͿ

Ϯǐ ůĂƐƐĞ

WƌĂĕĂ ĚĂ ZĞƉƷďůŝĐĂ ͼ dĞů͘ Ϯϰϵ ϯϮϵ ϴϴϱ ͼ &Ădž Ϯϰϵ ϯϮϵ ϴϬϵ ͼ ͲŵĂŝů͗ ƉƌĞƐŝĚĞŶĐŝĂΛĐŵͲƚŽŵĂƌ͘Ɖƚ ͼ ϮϯϬϬͲϱϱϬ dŽŵĂƌ

ŶĞdžŽ ĂŽ DĂƉĂ ĚĞ WĞƐƐŽĂů Ͳ ϮϬϭϳ D Z DhE/ /W > dKD Z

ƐƉĞĐŝĂůŝƐƚĂ ĚĞ /ŶĨŽƌŵĄƚŝĐĂ 'ƌĂƵ ϭ EşǀĞů Ϯ ƐƉĞĐŝĂůŝƐƚĂ ĚĞ /ŶĨŽƌŵĄƚŝĐĂ 'ƌĂƵ Ϯ EşǀĞů Ϯ dĠĐŶŝĐŽ ĚĞ /ŶĨŽƌŵĄƚŝĐĂ 'ƌĂƵ ϭ EşǀĞů ϯ dĠĐŶŝĐŽ ĚĞ /ŶĨŽƌŵĄƚŝĐĂ 'ƌĂƵ ϭ EşǀĞů ϭ

ƐƉĞĐŝĂůŝƐƚĂ ĚĞ /ŶĨŽƌŵĄƚŝĐĂ Ͳ ĞƐĞŵƉĞŶŚĂ ĨƵŶĕƁĞƐ ĚĞ ĐŽŶĐĞĕĆŽ Ğ ĂƉůŝĐĂĕĆŽ ŶĂƐ ƐĞŐƵŝŶƚĞƐ ĄƌĞĂƐ͗ ŐĞƐƚĆŽ Ğ ĂƌƋƵŝƚĞƚƵƌĂ ĚĞ ƐŝƐƚĞŵĂƐ ĚĞ ŝŶĨŽƌŵĂĕĆŽ͕ ŝŶĨƌĂĞƐƚƌƵƚƵƌĂƐ ƚĞĐŶŽůſŐŝĐĂƐ Ğ ĞŶŐĞŶŚĂƌŝĂ ĚĞ ƐŽĨƚǁĂƌĞ͘

dĠĐŶŝĐŽ ĚĞ /ŶĨŽƌŵĄƚŝĐĂ Ͳ ĞƐĞŵƉĞŶŚĂ ĨƵŶĕƁĞƐ ŶƵŵĂ ĚĂƐ ƐĞŐƵŝŶƚĞƐ ĄƌĞĂƐ ĨƵŶĐŝŽŶĂŝƐ͗ ŝŶĨƌĂĞƐƚƌƵƚƵƌĂƐ ƚĞĐŶŽůſŐŝĐĂƐ ŽƵ ĞŶŐĞŶŚĂƌŝĂ ĚĞ ƐŽĨƚǁĂƌĞ͖ ƐƵƉĞƌǀŝƐŝŽŶĂ ƵƌƐŽ dĞĐŶŽůſŐŝĐŽ͕ ĐƵƌƐŽ ĂŝŶĚĂ ŽƐ ƚƌĂďĂůŚŽƐ ĚŽƐ ƚĠĐŶŝĐŽƐ ĚĞ ŝŶĨŽƌŵĄƚŝĐĂ ĂĚũƵŶƚŽƐ͕ Ğŵ ƉĂƌƚŝĐƵůĂƌ ŶŽ ƋƵĞ ƌĞƐƉĞŝƚĂ ĂŽ ĂƉŽŝŽ ĚĞ ƵƚŝůŝnjĂĚŽƌĞƐ͕ ă ŽƉĞƌĂĕĆŽ ĚĞ ĐŽŵƉƵƚĂĚŽƌĞƐ Ğ ĂŽ ƐƵƉŽƌƚĞ ĚĂƐ ĞƐĐŽůĂƐ ƉƌŽĨŝƐƐŝŽŶĂŝƐ ĚĞ ƉƌŽŐƌĂŵĂĕĆŽ ĚĞ ƐŝƐƚĞŵĂƐ ĚĞ ŵŝĐƌŽŝŶĨŽƌŵĄƚŝĐĂ͘ ŽƵ ĐƵƌƐŽ ƋƵĞ ĐŽŶĨŝƌĂ

ĐĞƌƚŝĨŝĐĂĚŽ ĚĞ ƋƵĂůŝĨŝĐĂĕĆŽ ĚĞ ŶşǀĞů /// Ğŵ ĄƌĞĂƐ ĚĞ

ŝŶĨŽƌŵĄƚŝĐĂ

ĂƌŐŽ ͬ ĂƌƌĞŝƌĂ ͬ ĂƚĞŐŽƌŝĂ

[ 93 ]

dĠĐŶŝĐŽ ^ƵƉĞƌŝŽƌ

ŚĞĨĞ ĚĞ ^ĞƌǀŝĕŽƐ ĚĞ ĚŵŝŶŝƐƚƌĂĕĆŽ ƐĐŽůĂƌ

ƐƐŝƐƚĞŶƚĞ dĠĐŶŝĐŽ

/ŶĨŽƌŵĄƚŝĐĂ

ƚƌŝďƵŝĕĆŽ ͬ ŽŵƉĞƚġŶĐŝĂƐ

WƐŝĐŽůŽŐŝĂ ; ƐƚĂďĞůĞĐŝŵĞŶƚŽƐ ĚĞ ŶƐŝŶŽͿ Ͳ džĞƌĐĞ͕ ĐŽŵ ƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞ Ğ ĂƵƚŽŶŽŵŝĂ ƚĠĐŶŝĐĂ͕ ĂŝŶĚĂ ƋƵĞ ĐŽŵ ĞŶƋƵĂĚƌĂŵĞŶƚŽ ƐƵƉĞƌŝŽƌ ƋƵĂůŝĨŝĐĂĚŽ͕ ĨƵŶĕƁĞƐ ĐŽŶƐƵůƚŝǀĂƐ͕ ĚĞ ĞƐƚƵĚŽ͕ ƉůĂŶĞĂŵĞŶƚŽ͕ ƉƌŽŐƌĂŵĂĕĆŽ͕ ĂǀĂůŝĂĕĆŽ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ ĚĞ ŶĂƚƵƌĞnjĂ ƚĠĐŶŝĐĂ Ğ ŽƵ ĐŝĞŶƚşĨŝĐĂ ŝŶĞƌĞŶƚĞƐ ă ƌĞƐƉĞƚŝǀĂ ĄƌĞĂ ĚĞ ĞƐƉĞĐŝĂůŝnjĂĕĆŽ Ğ ĨŽƌŵĂĕĆŽ ĂĐĂĚĠŵŝĐĂ͕ ƋƵĞ ǀŝƐĂŵ ĨƵŶĚĂŵĞŶƚĂƌ Ğ ƉƌĞƉĂƌĂƌ Ă ĚĞĐŝƐĆŽ͕ ŝŶĐƵŵďŝŶĚŽ͕ ŐĞŶĞƌŝĐĂŵĞŶƚĞ͗ ĞĨĞƚƵĂƌ ĞƐƚƵĚŽƐ Ğ ĚĞƐĞŶǀŽůǀĞƌ ƉƌŽũĞƚŽƐ Ğŵ ĄƌĞĂƐ ĐŽŵŽ ƌĞĐƵƌƐŽƐ ŚƵŵĂŶŽƐ͕ ĂƉŽŝŽ ƐŽĐŝĂů͕ ĞĚƵĐĂƚŝǀŽ Ğ ĐƵůƚƵƌĂů͖ ƉƌŽŵŽǀĞƌ Ă ƌĞƐŽůƵĕĆŽ ĚĞ ƉƌŽďůĞŵĂƐ ĚĞ ĂĚĂƉƚĂĕĆŽ Ğ ƌĞĂĚĂƉƚĂĕĆŽ ƐŽĐŝĂů ĚŽƐ ŝŶĚŝǀşĚƵŽƐ͕ ŐƌƵƉŽƐ ŽƵ ĐŽŵƵŶŝĚĂĚĞƐ͖ ĚĞƚĞƚĂƌ ĂƐ ŶĞĐĞƐƐŝĚĂĚĞƐ ĚĂ ĐŽŵƵŶŝĚĂĚĞ ĞĚƵĐĂƚŝǀĂ͕ ĐŽŵ Ž Ĩŝŵ ĚĞ ƉƌŽƉŽƌ Ă ƌĞĂůŝnjĂĕĆŽ ĚĞ ĂĕƁĞƐ ĚĞ ƉƌĞǀĞŶĕĆŽ Ğ ŵĞĚŝĚĂƐ ĂĚĞƋƵĂĚĂƐ͕ ĚĞƐŝŐŶĂĚĂŵĞŶƚĞ͕ Ğŵ ĐĂƐŽƐ ĚĞ ŝŶƐƵĐĞƐƐŽ ĞƐĐŽůĂƌ͖ ŝĚĞŶƚŝĨŝĐĂƌ ĂƐ ŶĞĐĞƐƐŝĚĂĚĞƐ ĚĞ ŽĐƵƉĂĕĆŽ ĚĞ ƚĞŵƉŽƐ ůŝǀƌĞƐ ƉƌŽŵŽǀĞŶĚŽ Ğ ĂƉŽŝĂŶĚŽ ĂƚŝǀŝĚĂĚĞƐ ĚĞ şŶĚŽůĞ ĐƵůƚƵƌĂů͕ ĞĚƵĐĂƚŝǀĂ Ğ ƌĞĐƌĞĂƚŝǀĂ͖ ĞdžĞĐƵƚĂƌ ŽƵƚƌĂƐ ĂƚŝǀŝĚĂĚĞƐ ĚĞ ĂƉŽŝŽ ŐĞƌĂů ŽƵ ĞƐƉĞĐŝĂůŝnjĂĚŽ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ͕ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŽƉĞƌĂƚŝǀĂƐ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͘

ŚĞĨĞ ĚĞ ^ĞƌǀŝĕŽƐ ĚĞ ĚŵŝŶŝƐƚƌĂĕĆŽ ƐĐŽůĂƌ Ͳ ŝƌŝŐŝƌ Ğ ŽƌŝĞŶƚĂƌ Ž ƉĞƐƐŽĂů ĂĨĞƚŽ ĂŽ ƐĞƌǀŝĕŽ ĂĚŵŝŶŝƐƚƌĂƚŝǀŽ ŶŽ ĞdžĞƌĐşĐŝŽ ĚŝĄƌŝŽ ĚĂƐ ƐƵĂƐ ƚĂƌĞĨĂƐ͖ ĞdžĞƌĐĞƌ ƚŽĚĂƐ ĂƐ ĐŽŵƉĞƚġŶĐŝĂƐ ĚĞůĞŐĂĚĂƐ ƉĞůĂ ĚŝƌĞĕĆŽ ĞdžĞĐƵƚŝǀĂ͖ ƉƌŽƉŽƌ ĂƐ ŵĞĚŝĚĂƐ ƚĞŶĚĞŶƚĞƐ ă ŵŽĚĞƌŶŝnjĂĕĆŽ Ğ ĞĨŝĐŝġŶĐŝĂ Ğ ĞĨŝĐĄĐŝĂ ĚŽƐ ƐĞƌǀŝĕŽƐ ĚĞ ĂƉŽŝŽ ĂĚŵŝŶŝƐƚƌĂƚŝǀŽ͖ ƉƌĞƉĂƌĂƌ Ğ ƐƵďŵĞƚĞƌ Ă ĚĞƐƉĂĐŚŽ ĚŽ ſƌŐĆŽ ĞdžĞĐƵƚŝǀŽ ĚĂ ĞƐĐŽůĂ ŽƵ ĚŽ ĂŐƌƵƉĂŵĞŶƚŽ ĚĞ ĞƐĐŽůĂƐ ƚŽĚŽƐ ŽƐ ĂƐƐƵŶƚŽƐ ƌĞƐƉĞŝƚĂŶƚĞƐ ĂŽ ĨƵŶĐŝŽŶĂŵĞŶƚŽ ĚĂ ĞƐĐŽůĂ͖ ĂƐƐĞŐƵƌĂƌ Ă ĞůĂďŽƌĂĕĆŽ ĚŽ ƉƌŽũĞƚŽ ĚĞ ŽƌĕĂŵĞŶƚŽ͕ ĚĞ ĂĐŽƌĚŽ ĐŽŵ ĂƐ ůŝŶŚĂƐ ƚƌĂĕĂĚĂƐ ƉĞůĂ ĚŝƌĞĕĆŽ ĞdžĞĐƵƚŝǀĂ͖ ĐŽŽƌĚĞŶĂƌ͕ ĚĞ ĂĐŽƌĚŽ ĐŽŵ ĂƐ ŽƌŝĞŶƚĂĕƁĞƐ ĚŽ ĐŽŶƐĞůŚŽ ĂĚŵŝŶŝƐƚƌĂƚŝǀŽ͕ Ă ĞůĂďŽƌĂĕĆŽ ĚŽ ƌĞůĂƚſƌŝŽ ĚĞ ĐŽŶƚĂ ĚĞ ŐĞƌġŶĐŝĂ͘

ƌĞĂ ĚŵŝŶŝƐƚƌĂƚŝǀĂ ; ƐƚĂďĞůĞĐŝŵĞŶƚŽƐ ĚĞ ŶƐŝŶŽͿ Ͳ džĞƌĐĞ͕ ĐŽŵ ďĂƐĞ Ğŵ ĚŝƌĞƚŝǀĂƐ ďĞŵ ĚĞĨŝŶŝĚĂƐ Ğ ŝŶƐƚƌƵĕƁĞƐ ŐĞƌĂŝƐ͕ ĨƵŶĕƁĞƐ ĚĞ ŶĂƚƵƌĞnjĂ ĞdžĞĐƵƚŝǀĂ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ͕ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ Ğ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŶŽƐ ǀĄƌŝŽƐ ĚŽŵşŶŝŽƐ ĚĞ ĂƚƵĂĕĆŽ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͕ ƌĞƋƵĞƌĞŶĚŽ ĐŽŶŚĞĐŝŵĞŶƚŽƐ ƚĠĐŶŝĐŽƐ͕ ƚĞſƌŝĐŽƐ Ğ ƉƌĄƚŝĐŽƐ ŽďƚŝĚŽƐ ĂƚƌĂǀĠƐ ĚĞ ĂĚĞƋƵĂĚŽ ĐƵƌƐŽ ĚŽ ĞŶƐŝŶŽ ƐĞĐƵŶĚĄƌŝŽ ŽƵ ĞƋƵŝǀĂůĞŶƚĞ͕ ŝŶĐƵŵďŝŶĚŽͲůŚĞ͕ ŶŽŵĞĂĚĂŵĞŶƚĞ͗ ĞdžĞĐƵƚĂƌ ƚĂƌĞĨĂƐ ĚĞ ĞdžƉĞĚŝĞŶƚĞ͕ ĂƌƋƵŝǀŽ͕ ƐĞĐƌĞƚĂƌŝĂ͕ ĐŽŶƚĂďŝůŝĚĂĚĞ Ğ ƉƌŽĐĞƐƐĂŵĞŶƚŽ ;ƉĞƐƐŽĂů͕ ĂƉƌŽǀŝƐŝŽŶĂŵĞŶƚŽ Ğ ĞĐŽŶŽŵĂƚŽͿ͘

&ŽƌŵĂĕĆŽ ĐĂĚĠŵŝĐĂ

WƐŝĐŽůŽŐŝĂ

ϭϮǑ ĂŶŽ ĚĞ ĞƐĐŽůĂƌŝĚĂĚĞ ŽƵ ĐƵƌƐŽ ƋƵĞ ůŚĞ ƐĞũĂ ĞƋƵŝƉĂƌĂĚŽ

ϭϮǑ ĂŶŽ ĚĞ ĞƐĐŽůĂƌŝĚĂĚĞ ŽƵ ĐƵƌƐŽ ƋƵĞ ůŚĞ ƐĞũĂ ĞƋƵŝƉĂƌĂĚŽ

ŶĞdžŽ ĂŽ DĂƉĂ ĚĞ WĞƐƐŽĂů Ͳ ϮϬϭϳ D Z DhE/ /W > dKD Z

ƐƐŝƐƚĞŶƚĞ dĠĐŶŝĐŽ

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ĂƌŐŽ ͬ ĂƌƌĞŝƌĂ ͬ ĂƚĞŐŽƌŝĂ

ƚƌŝďƵŝĕĆŽ ͬ ŽŵƉĞƚġŶĐŝĂƐ

&ŽƌŵĂĕĆŽ ĐĂĚĠŵŝĐĂ

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ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

ƌĞĂ ĚĞ ĚƵĐĂĕĆŽ ; ƐƚĂďĞůĞĐŝŵĞŶƚŽƐ ĚĞ ŶƐŝŶŽͿ Ͳ džĞƌĐĞ ƚĂƌĞĨĂƐ ĚĞ ĂƉŽŝŽ ă ĂƚŝǀŝĚĂĚĞ ĚŽĐĞŶƚĞ ĚĞ ąŵďŝƚŽ ĐƵƌƌŝĐƵůĂƌ Ğ ĚĞ ĞŶƌŝƋƵĞĐŝŵĞŶƚŽ ĚŽ ĐƵƌƌşĐƵůŽ͖ ĞdžĞƌĐĞ ƚĂƌĞĨĂƐ ĚĞ ĞŶƋƵĂĚƌĂŵĞŶƚŽ Ğ ĂĐŽŵƉĂŶŚĂŵĞŶƚŽ ĚĞ ĐƌŝĂŶĕĂƐ Ğ ũŽǀĞŶƐ͕ ŶŽŵĞĂĚĂŵĞŶƚĞ͕ ŶŽ ąŵďŝƚŽ ĚĂ ĂŶŝŵĂĕĆŽ ƐŽĐŝŽĞĚƵĐĂƚŝǀĂ Ğ ĚĞ ĂƉŽŝŽ ă ĨĂŵşůŝĂ͖ ƉƌĞƐƚĂ ĂƉŽŝŽ ĞƐƉĞĐşĨŝĐŽ Ă ĐƌŝĂŶĕĂƐ Ğ ũŽǀĞŶƐ ƉŽƌƚĂĚŽƌĞƐ ĚĞ ĚĞĨŝĐŝġŶĐŝĂ͖ ĂĐŽŵƉĂŶŚĂ ĂƐ ĐƌŝĂŶĕĂƐ ŶĂƐ ĂƚŝǀŝĚĂĚĞƐ ĞĚƵĐĂƚŝǀĂƐ ĞͬŽƵ ůƷĚŝĐĂƐ͕ ƉƌŽƉŽƌĐŝŽŶĂŶĚŽͲůŚĞƐ ĂŵďŝĞŶƚĞ ĂĚĞƋƵĂĚŽ Ğ ĐŽŶƚƌŽůĂ ĞƐƐĂƐ ĂƚŝǀŝĚĂĚĞƐ͖ ǀŝŐŝĂ ĂƐ ĐƌŝĂŶĕĂƐ ĚƵƌĂŶƚĞ Ž ƌĞƉŽƵƐŽ Ğ ŶĂ ƐĂůĂ ĚĞ ĂƵůĂ͖ ĂƐƐŝƐƚĞ Ă ĐƌŝĂŶĕĂƐ ŶŽƐ ƚƌĂŶƐƉŽƌƚĞƐ͕ ŶŽƐ ƌĞĐƌĞŝŽƐ͕ ŶŽƐ ƉĂƐƐĞŝŽƐ Ğ ǀŝƐŝƚĂƐ ĚĞ ĞƐƚƵĚŽ͖ njĞůĂ ƉĞůĂ ĐŽŶƐĞƌǀĂĕĆŽ Ğ ďŽĂ ƵƚŝůŝnjĂĕĆŽ ĚĂƐ ŝŶƐƚĂůĂĕƁĞƐ͕ ďĞŵ ĐŽŵŽ ĚŽ ŵĂƚĞƌŝĂů Ğ ĞƋƵŝƉĂŵĞŶƚŽ ĚŝĚĄƚŝĐŽ ŶĞĐĞƐƐĄƌŝŽ ĂŽ ĚĞƐĞŶǀŽůǀŝŵĞŶƚŽ ĞĚƵĐĂƚŝǀŽ͘

ŝďůŝŽƚĞĐĂ Ğ ŽĐƵŵĞŶƚĂĕĆŽ; ƐƚĂďĞůĞĐŝŵĞŶƚŽƐ ĚĞ ŶƐŝŶŽͿ Ͳ džĞƌĐĞ͕ ĐŽŵ ďĂƐĞ Ğŵ ĚŝƌĞƚŝǀĂƐ ďĞŵ ĚĞĨŝŶŝĚĂƐ Ğ ŝŶƐƚƌƵĕƁĞƐ ŐĞƌĂŝƐ͕ ĨƵŶĕƁĞƐ ĚĞ ŶĂƚƵƌĞnjĂ ĞdžĞĐƵƚŝǀĂ Ğ ĚĞ ĂƉůŝĐĂĕĆŽ ĚĞ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞƐƐŽƐ͕ ŶĂƐ ĄƌĞĂƐ ĚĞ ĂƚƵĂĕĆŽ ĐŽŵƵŶƐ Ğ ŝŶƐƚƌƵŵĞŶƚĂŝƐ Ğ ŶŽƐ ǀĄƌŝŽƐ ĚŽŵşŶŝŽƐ ĚĞ ĂƚƵĂĕĆŽ ĚŽƐ ſƌŐĆŽƐ Ğ ƐĞƌǀŝĕŽƐ͕ ƌĞƋƵĞƌĞŶĚŽ ϭϮǑ ĂŶŽ ĚĞ ĞƐĐŽůĂƌŝĚĂĚĞ͕ ŽƵ ĐƵƌƐŽ ƋƵĞ ůŚĞ ƐĞũĂ ĐŽŶŚĞĐŝŵĞŶƚŽƐ ƚĠĐŶŝĐŽƐ͕ ƚĞſƌŝĐŽƐ Ğ ƉƌĄƚŝĐŽƐ ŽďƚŝĚŽƐ ĂƚƌĂǀĠƐ ĚĞ ĐƵƌƐŽ ĚŽ ĞŶƐŝŶŽ ƐĞĐƵŶĚĄƌŝŽ ŽƵ ĞƋƵŝǀĂůĞŶƚĞ͕ ŶĂ ĄƌĞĂ ĚĂƐ ďŝďůŝŽƚĞĐĂƐ Ğ ĚŽ ƐĞƌǀŝĕŽ ĚĞ ĚŽĐƵŵĞŶƚĂĕĆŽ͕ ŝŶĐƵŵďŝŶĚŽͲůŚĞ͕ ŶŽŵĞĂĚĂŵĞŶƚĞ͗ ƌĞĂůŝnjĂƌ ƚĂƌĞĨĂƐ͕ ƌĞĐŽƌƌĞŶĚŽ Ă ƐŝƐƚĞŵĂƐ ŵĂŶƵĂŝƐ ŽƵ ĂƵƚŽŵĂƚŝnjĂĚŽƐ͕ ƌĞůĂĐŝŽŶĂĚĂƐ ĐŽŵ Ă ĂƋƵŝƐŝĕĆŽ͕ Ž ƌĞŐŝƐƚŽ͕ ĞƋƵŝƉĂƌĂĚŽ͕ ŶĂ ĄƌĞĂ ĚĂ ďŝďůŝŽƚĞĐĂ Ğ Ă ĐĂƚĂůŽŐĂĕĆŽ͕ Ă ĐŽƚĂĕĆŽ͕ Ž ĂƌŵĂnjĞŶĂŵĞŶƚŽ ĚĞ ĞƐƉĠĐŝĞƐ ĚŽĐƵŵĞŶƚĂŝƐ͕ Ă ŐĞƐƚĆŽ ĚĞ ĐĂƚĄůŽŐŽƐ͕ ŽƐ ƐĞƌǀŝĕŽƐ ĚĞ ĂƚĞŶĚŝŵĞŶƚŽ͕ ĚĞ ĞŵƉƌĠƐƚŝŵŽ Ğ ĚĞ ƉĞƐƋƵŝƐĂ ĚŽĐƵŵĞŶƚĂĕĆŽ ďŝďůŝŽŐƌĄĨŝĐĂ͕ ĂƐƐŝŵ ĐŽŵŽ Ă ƉƌĞƉĂƌĂĕĆŽ ĚĞ ŝŶƐƚƌƵŵĞŶƚŽƐ ĚĞ ĚŝĨƵƐĆŽ͕ ĂƉůŝĐĂŶĚŽ ŶŽƌŵĂƐ ĚĞ ĨƵŶĐŝŽŶĂŵĞŶƚŽ ĚĞ ďŝďůŝŽƚĞĐĂƐ Ğ ƐĞƌǀŝĕŽƐ ĚĞ ĚŽĐƵŵĞŶƚĂĕĆŽ ĚĞ ĂĐŽƌĚŽ ĐŽŵ ŵĠƚŽĚŽƐ Ğ ƉƌŽĐĞĚŝŵĞŶƚŽƐ ƉƌĞǀŝĂŵĞŶƚĞ ĞƐƚĂďĞůĞĐŝĚŽƐ͘

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

'ƵĂƌĚĂ EŽƚƵƌŶŽ ; ƐƚĂďĞůĞĐŝŵĞŶƚŽƐ ĚĞ ŶƐŝŶŽͿ Ͳ WƌŽƚĞŐĞ ŽƐ ďĞŶƐ͕ ƐĞƌǀŝĕŽƐ Ğ ŝŶƐƚĂůĂĕƁĞƐ͕ ǀŝƐĂŶĚŽ ƉƌĞǀĞŶŝƌ Ă ŽĐŽƌƌġŶĐŝĂ ĚĞ ĂƚŽƐ ŝůşĐŝƚŽƐ͕ ĚĂŶŽƐ͕ ǀĂŶĚĂůŝƐŵŽ Ğ ƐŝŶŝƐƚƌŽƐ͕ ŵĞĚŝĂŶƚĞ ǀŝŐŝůąŶĐŝĂ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ

ƐƐŝƐƚĞŶƚĞ KƉĞƌĂĐŝŽŶĂů

DĂŶƵƚĞŶĕĆŽ ; ƐƚĂďĞůĞĐŝŵĞŶƚŽƐ ĚĞ ŶƐŝŶŽͿ Ͳ ZĞƉĂƌĂƌ Ğ ƌĞƐƚĂƵƌĂƌ ŵŽďŝůŝĄƌŝŽ͕ ĨĞĐŚĂĚƵƌĂƐ͕ ƉŽƌƚĂƐ͕ ũĂŶĞůĂƐ͕ ĞƐƚŽƌĞƐ͕ ĞƚĐ͖͘ ĞĨĞƚƵĂƌ ƉĞƋƵĞŶĂƐ ƌĞƉĂƌĂĕƁĞƐ͕ ƐƵďƐƚŝƚƵŝƌ ĂĐĞƐƐſƌŝŽƐ ĚĂƐ ƌĞĚĞƐ ĚĞ ĄŐƵĂ Ğ ĞƐŐŽƚŽ͕ njĞůĂŶĚŽ ƉĞůŽ ƐĞƵ ĨƵŶĐŝŽŶĂŵĞŶƚŽ͖ ĞdžĞĐƵƚĂƌ ƉĞƋƵĞŶĂƐ ƌĞƉĂƌĂĕƁĞƐ ŶĂ ŝŶƐƚĂůĂĕĆŽ ĞůĠƚƌŝĐĂ Ğ ƐƵďƐƚŝƚƵŝƌ ĂĐĞƐƐſƌŝŽƐ͖ ĐŽůŽĐĂƌ ǀŝĚƌŽƐ Ğ ĞĨĞƚƵĂƌ ƉĞƋƵĞŶĂƐ ƌĞƉĂƌĂĕƁĞƐ ŶŽ ĞĚŝĨşĐŝŽ͖ njĞůĂƌ ƉĞůĂ ĐŽŶƐĞƌǀĂĕĆŽ ĚĂƐ ŵĄƋƵŝŶĂƐ Ğ ĨĞƌƌĂŵĞŶƚĂƐ ƋƵĞ ƵƚŝůŝnjĂ͖ ĐŽŵƵŶŝĐĂƌ ĞƐƚƌĂŐŽƐ ŽƵ ĞdžƚƌĂǀŝŽƐ ĚĞ ŵĂƚĞƌŝĂů Ğ ĞƋƵŝƉĂŵĞŶƚŽ Ğ ĂŝŶĚĂ ŶĞĐĞƐƐŝĚĂĚĞƐ ĚĞ ƌĞƉŽƐŝĕĆŽ ĚĞ ĞdžŝƐƚġŶĐŝĂƐ͘

ƐĐŽůĂƌŝĚĂĚĞ ŽďƌŝŐĂƚſƌŝĂ