Exeter City Facing the Future Together

Page 1

EEX-E01-S3 1

)$&,1* 7+( )8785(

72*(7+(5

ZZZ H[HWHUH[SUHVVDQGHFKR FR XN VWURQJHUH[HWHU &RYHU 3LFWXUH 2O\PSLF 7RUFK 5HOD\ LQ ([HWHU


,1752'8&7,21 EEX-E01-S3 2

,19(670(17 )25 *52:7+ $1' 7+( 6(59,&(6 :( $// '(3(1' 21

<285 9,(:6 628*+7

:+$7 0$77(56 72 <28"

&281&,/ ,19(670(17 ,1 7+( &,7< ,6 &5,7,&$/

€ 0LOOLRQ

7KH DQWLFLSDWHG UHGXFWLRQ LQ WKH FRXQFLOpV JUDQW IURP &HQWUDO *RYHUQPHQW

€ 0LOOLRQ € 0LOOLRQ

7+( :,'(5 %(1(),76 2) &281&,/ ,19(670(17 ,1 7+( &,7<

3$5.6 38%/,& 3/$&(6

q6RPH RSHQ VSDFHV DUH PRUH LPSRUWDQW WR WKH FLWL]HQV RI ([HWHU WKDQ RWKHUV EXW VWUHHW FOHDQLQJ DQG RSHQ VSDFHV DUH YHU\ VHQVLWLYH EHFDXVH WKDWpV ZKDW SHRSOH VHH ZKHQ WKH\ JR RXW WKHLU IURQW GRRUV LQ WKH PRUQLQJ , ORRN IRUZDUG WR \RX SRVLWLYHO\ HQJDJLQJ ZLWK WKH FRQVXOWDWLRQ SURFHVVr

+(/3,1* 3(23/( q2QH RI WKH FRXQFLOpV FRUSRUDWH DLPV LV FRPPXQLW\ UHVLOLHQFH 7KHUH KDV WR EH DQ HPSKDVLV RQ VHOI UHOLDQFH DQG SHUVRQDO UHVSRQVLELOLW\ :LWK UHGXFLQJ IXQGLQJ QRW VLPSO\ ZLWKLQ WKH FRXQFLO EXW DFURVV WKH SXEOLF VHFWRU SHRSOH ZLOO QHHG WR EH PRUH VHOI UHOLDQW HQDEOLQJ WKH SXEOLF VHFWRU WR FRQFHQWUDWH LWV OLPLWHG UHVRXUFHV r


q0RVW RI XV DUH LQYROYHG LQ WKH FXOWXUDO OLIH RI WKH FLW\ ZKHWKHU ZH OLNH JRLQJ WR WKH WKHDWUH ZDWFKLQJ OLYH PXVLF YLVLWLQJ WKH PXVHXP RU HYHQ SOD\LQJ VSRUW RU VXSSRUWLQJ RXU ORFDO WHDPV , EHOLHYH WKDW DOO RI WKHVH DUH LPSRUWDQW WR SHRSOH VR P\ TXHVWLRQ DV ZH VWDUW WR UHGXFH IXQGLQJ LV KRZ GR ZH PDNH VXUH WKLQJV OLNH WKLV VWLOO KDSSHQ" ,I ZH ZDQW ([HWHU WR EH D FLW\ ZKHUH WKHUH LV ORWV WR GR ZH PD\ QHHG WR GR WKLQJV LQ D GLIIHUHQW ZD\ WKDQ ZH GR DW SUHVHQW r

D YDULHW\ RI PXVLF GDQFH DQG FRPHG\ HYHQWV WKURXJKRXW WKH \HDU

6$)(5 &,7<

q3HRSOHpV SHUFHSWLRQ RI VDIHW\ LQ WKH FLW\ FHQWUH LV JHQHUDOO\ YHU\ JRRG %XW ZKHQ WKH FRXQFLO KDV € PLOOLRQ OHVV WR VSHQG HDFK \HDU LI ZH DUH JRLQJ WR NHHS GRLQJ PDQ\ RI WKHVH UHDOO\ LPSRUWDQW WKLQJV WKHQ ZH DUH JRLQJ WR KDYH WR GR WKHP GLIIHUHQWO\ DQG JHW D GHHS XQGHUVWDQGLQJ RI ZKDW DOO RI XV DV ([HWHU UHVLGHQWV YDOXH DERXW WKH VHUYLFHV WKH FRXQFLO SURYLGHV r

EEX-E01-S3 3

&8/785$/ &,7<


EEX-E01-S3 4

%XGJHW &RQVXOWDWLRQ

3$5.6 38%/,& 3/$&(6 :+$7 (;(7(5 &,7< &281&,/ &855(17/< '2(6

7KH FRXQFLOpV SDUNV DQG RSHQ VSDFHV WHDP PDQDJHV RYHU KHFWDUHV RI SDUNV SOD\LQJ îHOGV DQG RSHQ VSDFHV LQ WKH FLW\ RIIHULQJ VRPH RI WKH PRVW ZLGHO\ XVHG VRFLDO DQG UHFUHDWLRQDO IDFLOLWLHV ,QFOXGHG LQ WKLV DUH IRUPDO SDUNV VSRUWV SLWFKHV ZLWK DVVRFLDWHG FKDQJLQJ IDFLOLWLHV RQ SOD\LQJ îHOGV SOD\ DUHDV WKUHH FHPHWHULHV DQG D P\ULDG RI VPDOO QHLJKERXUKRRG JUHHQ VSDFHV ,Q DGGLWLRQ WR DOO WKLV WKHUH DUH îYH YDOOH\ SDUNV RIIHULQJ D ZLGH FKRLFH RI OHLVXUHO\ ZDONV SODFHV WR UHOD[ îQH YLHZV DQG SOHQW\ RI ZLOGOLIH 7KHVH JUHHQ VSDFHV SURYLGH LQYDOXDEOH FLYLF DPHQLW\ DQG UHIXJH IRU XUEDQ ZLOGOLIH 7KHVH DUH VRPH RI ([HWHUpV PRVW FKHULVKHG SXEOLF VSDFHV SURYLGLQJ RSSRUWXQLWLHV IRU H[HUFLVH DQG UHFUHDWLRQ LQ D VDIH DQG SOHDVDQW HQYLURQPHQW $ JRRG H[DPSOH LV 1RUWKHUQKD\ *DUGHQV ZKLFK ZDV UHFHQWO\ QDPHG %HVW 3DUN LQ WKH 6RXWK :HVW DW WKH SUHVWLJLRXV 5+6 %ULWDLQ LQ %ORRP DZDUGV 7KH FRXQFLO LV DOVR UHVSRQVLEOH IRU VWUHHW FOHDQLQJ WKURXJKRXW WKH FLW\ DQG SXEOLF WRLOHWV .HHSLQJ WKH VWUHHWV FOHDQ LV DQ LPSRUWDQW SDUW RI PDNLQJ ([HWHU DQ DWWUDFWLYH GHVWLQDWLRQ IRU UHVLGHQWV VKRSSHUV DQG RWKHU YLVLWRUV

7+( &+$//(1*(

$V WKH FRXQFLO ORRNV WR EDODQFH LWV EXGJHW SRWHQWLDO ZD\V RI VDYLQJ PRQH\ ZKLFK PLJKW SUHYLRXVO\ KDYH EHHQ VHHQ DV XQSDODWDEOH ZLOO QHHG WR EH FRQVLGHUHG ,Q WKLV DUHD WKHVH FRXOG LQFOXGH FORVLQJ VRPH SXEOLF WRLOHWV UHGXFLQJ WKH IUHTXHQF\ RI VWUHHW FOHDQLQJ RU WKH PDLQWHQDQFH OHYHOV LQ SDUNV DQG SOD\LQJ îHOGV 7KH DLP RI WKLV FRQVXOWDWLRQ LV WR JLYH UHVLGHQWV D FKDQFH WR WHOO WKH FRXQFLO ZKLFK VHUYLFHV WKH\ YDOXH PRVW DQG KRZ WKH\ WKLQN HIîFLHQF\ VDYLQJV FRXOG EH PDGH <RXU YLHZV DUH YHU\ LPSRUWDQW )RU H[DPSOH DUH QHLJKERXUKRRG SOD\JURXQGV DQG RSHQ VSDFHV PRUH RU OHVV LPSRUWDQW WR \RX WKDQ WKH ïDJVKLS FLW\ FHQWUH SDUNV" ,V WKHUH D JUHDWHU QHHG IRU SXEOLF WRLOHWV LQ WKH FLW\ FHQWUH RU RXWO\LQJ DUHDV" &RXOG SHRSOH XVH WRLOHWV LQ VKRSV FDIÃ…V DQG SXEV LQVWHDG" &RXOG WKH FRPPXQLW\ RU VSRUWV FOXEV WDNH UHVSRQVLELOLW\ IRU PDLQWDLQLQJ DQG ORRNLQJ DIWHU VRPH RI WKH FLW\pV RSHQ VSDFHV SOD\LQJ îHOGV DQG FOXEKRXVHV" $ PHVVDJH IURP &RXQFLOORU .HLWK 2ZHQ /HDG &RXQFLOORU IRU (QYLURQPHQW +HDOWK DQG :HOOEHLQJ

q7KH DLP RI WKLV FRQVXOWDWLRQ H[HUFLVH LV WR îQG RXW ZKDW VHUYLFHV DUH YDOXHG PRVW E\ WKH SHRSOH RI ([HWHU :H NQRZ WKDW VWUHHW FOHDQLQJ LV D YDOXHG VHUYLFH QRW MXVW LQ WKH FLW\ FHQWUH EXW HOVHZKHUH LQ ([HWHU $IWHU DOO WKH UHVXOWV RI LW DUH ZKDW PDQ\ SHRSOH VHH ZKHQ WKH\ JR RXW RI WKHLU IURQW GRRUV LQ WKH PRUQLQJ +RZ LPSRUWDQW LV WKLV WR \RX" 2XU SDUNV DQG RSHQ VSDFHV DUH DOVR DQ LPSRUWDQW SDUW RI WKH FLW\ WKH\ WRR KDYH D GHJUHH RI VHQVLWLYLW\ DERXW WKHP 1RQH RI WKHVH GHFLVLRQV ZLOO EH HDV\ IRU XV WR PDNH 3OHDVH WHOO XV ZKDW \RX WKLQN r

([HWHU &LW\ &RXQFLOpV QHW H[SHQGLWXUH RQ SDUNV DQG SXEOLF SODFHV LQFOXGHV s € P RQ PDLQWHQDQFH RI WKH FLW\pV SDUNV DQG VSRUWV SLWFKHV s € RQ ORRNLQJ DIWHU WKH FLW\pV WUHHV s € RQ FKLOGUHQpV SOD\ DUHDV DQG WKH YDOOH\ SDUNV s € RQ SXEOLF WRLOHWV s € P RQ VWUHHW FOHDQLQJ s € RQ WKH FRVW RI EXULDOV LQ ([HWHUpV FHPHWHULHV

&RPSOHWH WKH VXUYH\ RQOLQH DW ZZZ H[HWHUH[SUHVVDQGHFKR FR XN VWURQJHUH[HWHU


EEX-E01-S3 5

&RPSOHWH WKLV VXUYH\ IRU D FKDQFH WR :,1 $1 L3$' 4 +RZ RIWHQ GR \RX YLVLW D SDUN RU SOD\ DUHD LQ ([HWHU" 7LFN RQH RQO\

'DLO\ F :HHNO\ F 2QFH RU 7ZLFH D PRQWK F 2QO\ RFFDVLRQDOO\ F 1HYHU F 4 :KHQ GR \RX XVXDOO\ YLVLW LQ 6SULQJ 6XPPHU 0DUFK t 6HSW " 3OHDVH WLFN DOO WKDW DSSO\

0RUQLQJ F (YHQLQJV F $IWHUQRRQ F :HHNHQGV F 4 :KHQ GR \RX XVXDOO\ YLVLW LQ $XWXPQ :LQWHU 6HSW t )HE " 0RUQLQJ F (YHQLQJV F $IWHUQRRQ F :HHNHQGV F 4 :KDW GR \RX XVXDOO\ XVH WKH SDUNV DQG SOD\ DUHDV IRU" 3OHDVH WLFN DOO WKDW DSSO\

:DONLQJ F -RJJLQJ RWKHU îWQHVV DFWLYLWLHV F 7DNLQJ FKLOGUHQ WR SOD\ F 'RJ ZDONLQJ F 5HOD[DWLRQ SLFQLFV UHDGLQJ VLWWLQJ

F 8VLQJ IDFLOLWLHV HJ ERZOV WHQQLV VNDWHERDUGLQJ F $WWHQGLQJ HYHQWV F

4 ,I PRQH\ QHHGV WR EH VDYHG KRZ RIWHQ VKRXOG WKH VWUHHWV EH FOHDQHG" &LW\ FHQWUH 6DPH DV QRZ F /HVV RIWHQ F :KHQ QHFHVVDU\ F 2XWHU UHWDLO DUHDV 6DPH DV QRZ F /HVV RIWHQ F :KHQ QHFHVVDU\ F HJ &RZLFN 6WUHHW +HDYLWUHH

<RXU QHLJKERXUKRRG 6DPH DV QRZ F /HVV RIWHQ F :KHQ QHFHVVDU\ F 4 +RZ RIWHQ GR \RX XVH SXEOLF WRLOHWV" 'DLO\ F :HHNO\ F 0RQWKO\ F /HVV RIWHQ F 2QO\ LI WKHUH LV QR DOWHUQDWLYH DYDLODEOH F 1HYHU F 4 'R \RX XVH WRLOHWV LQ FRPPHUFLDO SUHPLVHV HJ SXEV FDIHV RU VKRSV" <HV F 1R F 2QO\ LI WKHUH LVQpW D SXEOLF WRLOHW DYDLODEOH F 4 ,I \RX KDYH SDUWLFXODU QHHGV H J EDE\ FKDQJLQJ IDFLOLWLHV RU GLVDELOLW\ DGDSWDWLRQV LV WKHUH HQRXJK WRLOHW SURYLVLRQ LQ ([HWHU IRU \RX" <HV F 1R F 1RW DSSOLFDEOH F 'R \RX KDYH DQ\ RWKHU FRPPHQWV DERXW WKH LVVXHV UDLVHG LQ WKLV VXUYH\"

2WKHU SOHDVH VD\ ZKDW

4 +RZ IDU \RX ZRXOG EH ZLOOLQJ WR WUDYHO WR XVH D SDUN RU SOD\ DUHD" /HVV WKDQ ™ PLOH F 8S WR PLOH F 8S WR PLOHV F 2YHU PLOHV F

4 ,I \RX YLVLW IRUPDO SDUNV HJ 1RUWKHUQKD\ *DUGHQV 3LQFHV *DUGHQV 6RXWKHUQKD\ LI PRQH\ QHHGV WR EH VDYHG KRZ LPSRUWDQW DUH WKH IROORZLQJ RQ D VFDOH RI " EHLQJ PRUH LPSRUWDQW EHLQJ OHVV LPSRUWDQW &XWWLQJ JUDVV F F F F F 0DLQWDLQLQJ KHGJHV F F F F F 3UXQLQJ UHSODFLQJ WUHHV F F F F F 3ODQWLQJ PDLQWDLQLQJ ïRZHU EHGV F F F F F 0DLQWDLQLQJ EXLOGLQJV F F F F F 0DLQWDLQLQJ IHDWXUHV HJ VFXOSWXUHV F F F F F SDWKV JDWHV ZDOOV PHPRULDOV 4 ,I \RX YLVLW LQIRUPDO SDUNV SOD\ DUHDV HJ $UHQD 3DUN )ORZHUSRW 6NDWHSDUN ([ZLFN 6WDWLRQ 5RDG SOD\ DUHD LI PRQH\ QHHGV WR EH VDYHG KRZ LPSRUWDQW DUH WKH IROORZLQJ RQ D VFDOH RI " EHLQJ PRUH LPSRUWDQW EHLQJ OHVV LPSRUWDQW &XWWLQJ JUDVV F F F F F 0DLQWDLQLQJ KHGJHV F F F F F 3UXQLQJ UHSODFLQJ WUHHV F F F F F 3ODQWLQJ PDLQWDLQLQJ ï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

7KDQN \RX )RU \RXU FKDQFH WR ZLQ DQ L3DG ZH QHHG WKH IROORZLQJ LQIRUPDWLRQ 7KLV LQIRUPDWLRQ ZLOO EH KHOG VHSDUDWHO\ IURP \RXU VXUYH\ UHVSRQVHV DQG ZLOO QRW EH SDVVHG RQ WR ([HWHU &LW\ &RXQFL/ <RXU QDPH <RXU HPDLO DGGUHVV <RXU WHOHSKRQH QXPEHU 7KHVH TXHVWLRQV DUH RSWLRQDO EXW WKH\ ZLOO KHOS XV WR EHWWHU XQGHUVWDQG WKH VXUYH\ UHVXOWV +RZ ROG DUH \RX"

F F F F F F F

*HQGHU

0DOH F )HPDOH F 7UDQVJHQGHU F

'R \RX KDYH FKLOGUHQ DJHG RU XQGHU" < F 1 F $UH \RXU GD\ WR GD\ DFWLYLWLHV OLPLWHG E\ D GLVDELOLW\ RU LOOQHVV" < F 1 F 3RVWFRGH )RU WHUPV DQG FRQGLWLRQV YLVLW H[HWHUH[SUHVVDQGHFKR FR XN FRPSHWLWLRQWHUPVDQGFRQGLWLRQV ([SUHVV (FKR DORQJ ZLWK ([HWHU &LW\ &RXQFLO WDNH \RXU SULYDF\ VHULRXVO\ )URP WLPH WR WLPH ZH ZRXOG OLNH WR FRQWDFW \RX E\ HPDLO ZLWK RWKHU RIIHUV DQG VHUYLFHV IURP WKH ([SUHVV (FKR ZKLFK ZH WKLQN PD\ EH RI LQWHUHVW :H ZRQpW VKDUH \RXU GDWD ZLWK DQ\ WKLUG SDUWLHV :RXOG \RX EH KDSS\ WR UHFHLYH WKLV LQIRUPDWLRQ" <HV F

1R F

'HDGOLQH IRU VXUYH\V LV 1RYHPEHU 6HQG \RXU FRPSOHWHG VXUYH\ WR ([SUHVV (FKR +HURQ 5RDG ([HWHU (; 1) 2U FRPSOHWH RQOLQH DW ZZZ H[HWHUH[SUHVVDQGHFKR FR XN VWURQJHUH[HWHU


EEX-E01-S3 6

%XGJHW &RQVXOWDWLRQ

+(/3,1* 3(23/( :+$7 (;(7(5 &,7< &281&,/ &855(17/< '2(6

([HWHU &LW\ &RXQFLO KDV DQ LPSRUWDQW UROH WR SOD\ LQ KHOSLQJ UHVLGHQWV LQFOXGLQJ VRPH RI WKH PRVW YXOQHUDEOH SHRSOH LQ RXU VRFLHW\ 7KH FXVWRPHU VHUYLFH FHQWUH DW WKH &LYLF &HQWUH GHDOV ZLWK D ZLGH YDULHW\ RI HQTXLULHV LQFOXGLQJ FRXQFLO VHUYLFHV FRXQFLO WD[ DQG EHQHîWV HYHU\ GD\ ,W LV DOVR UHVSRQVLEOH IRU SURYLGLQJ HPHUJHQF\ DFFRPPRGDWLRQ IRU KRPHOHVV SHRSOH DQG WKRVH VHHNLQJ UHIXJH IURP GRPHVWLF YLROHQFH :H DOVR VXSSRUW URXJK VOHHSHUV LQ îQGLQJ DFFRPPRGDWLRQ 7KH FRXQFLO IXQGV D ORFDO FRXQFLO WD[ VXSSRUW VFKHPH ZKLFK FXUUHQWO\ JLYHV ZRUNLQJ DJH KRXVHKROGV RQ ORZ LQFRPHV XS WR DQ SHU FHQW GLVFRXQW RQ WKH IXOO FRXQFLO WD[ ELOO DW D FRVW RI € D \HDU

7+( &+$//(1*(

$V WKH FRXQFLO ORRNV WR EDODQFH LWV EXGJHW SRWHQWLDO ZD\V RI VDYLQJ PRQH\ ZKLFK PLJKW SUHYLRXVO\ KDYH EHHQ UXOHG RXW ZLOO QHHG WR EH FRQVLGHUHG ,Q WKLV DUHD WKHVH FRXOG LQFOXGH D UHGXFWLRQ LQ RSHQLQJ KRXUV DQG WKH LQWURGXFWLRQ RI DQ DSSRLQWPHQWV EDVHG V\VWHP DW WKH &LYLF &HQWUH 7KH FRXQFLO FRXOG DOVR FRQVLGHU UHGXFLQJ WKH

DPRXQW RI FRXQFLO WD[ VXSSRUW LW SURYLGHV 7KH DLP RI WKLV FRQVXOWDWLRQ LV WR JLYH UHVLGHQWV D FKDQFH WR WHOO WKH FRXQFLO ZKLFK VHUYLFHV WKH\ YDOXH PRVW DQG KRZ WKH\ WKLQN HIî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q2QH RI WKH FRXQFLOpV FRUSRUDWH DLPV LV FRPPXQLW\ UHVLOLHQFH 7KHUH KDV WR EH DQ HPSKDVLV RQ VHOI UHOLDQFH DQG SHUVRQDO UHVSRQVLELOLW\ :LWK UHGXFLQJ IXQGLQJ QRW VLPSO\ ZLWKLQ WKH FRXQFLO EXW DFURVV WKH SXEOLF VHFWRU SHRSOH ZLOO QHHG WR EH PRUH VHOI UHOLDQW HQDEOLQJ WKH SXEOLF VHFWRU WR FRQFHQWUDWH LWV OLPLWHG UHVRXUFHV

KHOS \RXUVHOYHV :H DUH KHUH WR ZRUN LQ SDUWQHUVKLS ZLWK \RX EXW ZH DUH QRW KHUH WR SURYLGH FRQVWDQW VXSSRUW :H ZDQW WR HQFRXUDJH HGXFDWLRQ HPSOR\PHQW DQG HQWHUSULVH WR PDNH VXUH ZH DUH D UHVLOLHQW SURVSHURXV FLW\ *HW WKRVH ULJKW DQG WKH FDOO RQ WKH FRXQFLO DQG SXEOLF UHVRXUFHV LV UHGXFHG r

)$&7),/(

([HWHU &LW\ &RXQFLOpV QHW H[SHQGLWXUH RQ KHOSLQJ SHRSOH LQFOXGHV

s € RQ KRXVLQJ DGYLFH s € RQ KRPHOHVV SUHYHQWLRQ

DFWLYLWLHV VXFK DV D FRXUW GHVN PRQH\ DGYLFH DQG URXJK VOHHSLQJ VHUYLFH

s € RQ HPHUJHQF\ DFFRPPRGDWLRQ IRU KRPHOHVV KRXVHKROGV

s € RQ &RXQFLO 7D[ %XVLQHVV 5DWHV $GPLQLVWUDWLRQ

s € RQ +RXVLQJ %HQHîW &RXQFLO 7D[ 6XSSRUW $GPLQLVWUDWLRQ LQFOXGLQJ SUHYHQWLQJ DQG GHWHFWLQJ IUDXG

s € RQ &XVWRPHU 6HUYLFHV

:H DUH KHUH WR KHOS \RX EXW \RX KDYH WR

7KHUH KDV WR EH DQ HPSKDVLV RQ VHOI UHOLDQFH DQG SHUVRQDO UHVSRQVLELOLW\

&RPSOHWH WKH VXUYH\ RQOLQH DW ZZZ H[HWHUH[SUHVVDQGHFKR FR XN VWURQJHUH[HWHU


EEX-E01-S3 7

&RPSOHWH WKLV VXUYH\ IRU D FKDQFH WR :,1 $1 L3$' 4 :KDW GR \RX XVH WR DFFHVV WKH LQWHUQHW" 7LFN DOO WKDW DSSO\ &RPSXWHU ODSWRS F 7DEOHW FRPSXWHU HJ L3DG

F 6PDUW SKRQH F 6PDUW WY F *DPHV PDFKLQH HJ ;ER[

F &RPSXWHU LQ OLEUDU\ RU RWKHU SXEOLF DFFHVV 3& F , GRQpW KDYH DFFHVV WR WKH LQWHUQHW F 2WKHU 4 +RZ HDV\ LV WKH ([HWHU &LW\ &RXQFLO ZHEVLWH WR XVH IRU WKH IROORZLQJ" HDV\ GLIîFXOW

1HYHU 8VHG 3D\ P\ FRXQFLO WD[ F F F F F F 3D\ P\ UHQW F F F F F F 5HTXHVW IRU ODUJH EXON\ F F F F F F UHIXVH WR EH FROOHFWHG 5HTXHVW D UHSODFHPHQW UHIXVH ELQ F F F F F F 5HSRUW DQWL VRFLDO EHKDYLRXU F F F F F F JUDIîWL ï\ WLSSLQJ )LQG LQIRUPDWLRQ DQG DGYLFH F F F F F F 4 7KH &XVWRPHU 6HUYLFH GHVNV DUH FXUUHQWO\ RSHQ 0RQGD\ WR )ULGD\ ,I PRQH\ QHHGV WR EH VDYHG ZRXOG \RX VXSSRUW WKH SULQFLSOH RI PRYLQJ WR DQ DSSRLQWPHQWV RQO\ V\VWHP DV LQ GRFWRUV VXUJHULHV IRU SDUW RI WKH ZHHN" <HV F 1R F 4 ,I ZH ZHQW DKHDG ZLWK DQ DSSRLQWPHQWV RQO\ V\VWHP ZKHQ ZRXOG EH PRVW FRQYHQLHQW IRU \RX" 7LFN DOO WKDW DSSO\ 0RUQLQJ $IWHUQRRQ 0RQGD\ F F 7XHVGD\ F F :HGQHVGD\ F F 7KXUVGD\ F F )ULGD\ F F 4 :KLFK RI WKH IROORZLQJ KDYH \RX XVHG LQ WKH ODVW PRQWKV WR DFFHVV FRXQFLO VHUYLFHV RU JHW DGYLFH" &RQWDFWHG D &RXQFLOORU F 9LVLW WR &XVWRPHU 6HUYLFH &HQWUH F 7HOHSKRQH F :HEVLWH F (PDLO F 6RFLDO PHGLD 7ZLWWHU DQG )DFHERRN

F 4 :KDW DGGLWLRQDO VHUYLFHV PLJKW \RX îQG KHOSIXO ZLWKLQ WKH ([HWHU &LW\ &RXQFLO &XVWRPHU 6HUYLFH &HQWUH" &LWL]HQV $GYLFH %XUHDX F 0RQH\ PDQDJHPHQW F &UHGLW 8QLRQ F 3ROLFH F 'HYRQ &RXQW\ &RXQFLO HJ UHVLGHQWV SDUNLQJ VRFLDO VHUYLFHV VXSSRUW HGXFDWLRQ

F 4 +RZ LPSRUWDQW LV LW IRU WKH &RXQFLO WR SURYLGH WKH IROORZLQJ" PRUH LPSRUWDQW OHVV LPSRUWDQW

'HEW DGYLFH F F F F F 0RQH\ PDQDJHPHQW DGYLFH F F F F F (PHUJHQF\ KDUGVKLS IXQG F F F F F DGGLWLRQDO VXSSRUW IRU SHRSOH DIIHFWHG E\ WKH FKDQJHV WR &RXQFLO 7D[ %HQHîW

4 ([HWHU &LW\ &RXQFLO FXUUHQWO\ KHOSV SHRSOH RQ ORZ LQFRPHV WR SD\ WKHLU FRXQFLO WD[ 6KRXOG ZH FRQVLGHU WKH SULQFLSOH RI UHGXFLQJ WKH OHYHO RI VXSSRUW SURYLGHG" <HV F 1R F 1R RSLQLRQ F 4 'R \RX KDYH DQ\ FRPPHQWV DERXW WKH LVVXHV UDLVHG LQ WKLV VXUYH\" <HV F 1R F 7KHVH TXHVWLRQV DUH RSWLRQDO EXW WKH\ ZLOO KHOS XV WR EHWWHU XQGHUVWDQG WKH VXUYH\ UHVXOWV +RZ ROG DUH \RX"

F F F F F F F

*HQGHU

0DOH F )HPDOH F 7UDQVJHQGHU F

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pW VKDUH \RXU GDWD ZLWK DQ\ WKLUG SDUWLHV :RXOG \RX EH KDSS\ WR UHFHLYH WKLV LQIRUPDWLRQ" <HV F 1R F 'HDGOLQH IRU VXUYH\V LV 1RYHPEHU 6HQG \RXU FRPSOHWHG VXUYH\ WR ([SUHVV (FKR +HURQ 5RDG ([HWHU (; 1) 2U FRPSOHWH RQOLQH DW ZZZ H[HWHUH[SUHVVDQGHFKR FR XN VWURQJHUH[HWHU


EEX-E01-S3 8

%XGJHW &RQVXOWDWLRQ

&8/785$/ 6$)(5 &,7<&,7< :+$7 (;(7(5 &,7< ,1752'8&7,21 ([HWHU &LW\ &RXQFLO KDV WHDPHG XS ZLWK WKH &281&,/ &855(17/< '2(6

([SUHVV (FKR WR FDUU\ RXW D PDMRU SXEOLF (QVXULQJ $ WKULYLQJWKDW FXOWXUDO ([HWHU DQG UHPDLQV DUWLVWLFD VFHQH VDIH SODFH KHOSV FRQVXOWDWLRQ ZKLFK DLPV WR îQG ZD\V RI IRU PDNH UHVLGHQWV ([HWHU DDQG YLEUDQW YLVLWRUV SODFH LV DZKHUH NH\ SULRULW\ SHRSOH EXLOGLQJ D 6WURQJHU ([HWHU ZKLOH EDODQFLQJ IRU ZDQW WKH WRFRXQFLO OLYH DQGDVZRUN ZHOO DV LWV SDUWQHUV LQ WKH LWV EXGJHW DPLG RQJRLQJ UHGXFWLRQV LQ HPHUJHQF\ VHUYLFHV %XW GLIîFXOW GHFLVLRQV 2QH RI WKH FLW\pV PDLQ DWWUDFWLRQV LV WKH JRYHUQPHQW IXQGLQJ DERXW ZKDW WKH FRXQFLOpV UROH ZLOO EH LQ &LW\ &RXQFLO RZQHG 5R\DO $OEHUW 0HPRULDO $V WKH FRXQFLO ORRNV WR VDYHIURP € PFHQWUDO D \HDU WKH FRQWH[W RI OHVV PRQH\ 0XVHXP 5$00 ZKLFK KDV ZRQ D KRVW RYHU WKH QH[WDUH WKUHH \HDUV LW ZLOO QHHG WR GR JRYHUQPHQW LQHYLWDEOH RI DZDUGV VLQFH LWV UHGHYHORSPHQW ZDV VRPH WKLQJV GLIIHUHQWO\ DQG VWRS GRLQJ VRPH ([HWHU FRPSOHWHG &LW\ QHDUO\ &RXQFLOWKUHH FXUUHQWO\ \HDUV SURYLGHV DJR LQFOXGLQJ &&79 WKLQJV DOWRJHWKHU 7KLV LV \RXU FKDQFH WR WHOO FRYHUDJH WKH SUHVWLJLRXV RI WKH$UW FLW\)XQG FHQWUH 0XVHXP 7KH QHWZRUN RI WKH <HDU FRXQFLOORUV ZKDW \RX WKLQN WKH FLW\p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pV DQG +RPH LW PDLQWDLQV &DOO DODUP WKH KHULWDJH VHUYLFH SURYLGHV DWWUDFWLRQV HPHUJHQF\ RI 6W 1LFKRODV KHOS 3ULRU\ UHDVVXUDQFH DQG :+$7 (;(7(5 &,7< WKH 4XD\ DGYLFH +RXVH DQG WR HOGHUO\ WKH 8QGHUJURXQG RU YXOQHUDEOH 3DVVDJHV UHVLGHQWV &281&,/ &855(17/< '2(6 &RXQFLO 7KH FRXQFLO RIîFHUV DOVR DUH RUJDQLVHV DOVR UHVSRQVLEOH HYHQWV LQFOXGLQJ IRU (QVXULQJ WKDW ([HWHU UHPDLQV D VDIH SODFH FDUU\LQJ WKH 8QH[SHFWHG RXW IRRG([HWHU VDIHW\IHVWLYDO LQVSHFWLRQV ZKLFKRQQH[W IRU UHVLGHQWV DQG YLVLWRUV LV D NH\ SULRULW\ PRUH \HDU ZLOO WKDQ FRLQFLGH SUHPLVHV ZLWK WKH DQG 5XJE\ GHDOLQJ :RUOG ZLWK &XS IRU WKH([HWHU FRXQFLO ZHOOFLW\ DV GRJV LWV SDUWQHUV LQ WKH LVVXHV ZKHQ VXFK DVLVGDQJHURXV DDVKRVW DQG DQWL VRFLDO HPHUJHQF\ VHUYLFHV %XW GLIîFXOW GHFLVLRQV EHKDYLRXU 7KH FRXQFLO DOVR JLYHV JUDQWV WR VHYHUDO DERXW ZKDW WKH FRXQFLOp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pV &DOO PRQH\ DODUP VHUYLFH SRWHQWLDO ZD\V+RPH RI VDYLQJ ZKLFK PLJKW SURYLGHV HPHUJHQF\ DQG SUHYLRXVO\ KDYH EHHQKHOS UXOHGUHDVVXUDQFH RXW ZLOO QHHG WR EH DGYLFH WR HOGHUO\ RU YXOQHUDEOH UHVLGHQWV FRQVLGHUHG &RXQFLO RIîFHUV DUH DOVR UHVSRQVLEOH IRU ,Q WKLV DUHD SRVVLEOH RSWLRQV IRU UHGXFLQJ FDUU\LQJ IRRG VDIHW\ LQVSHFWLRQV RQ WKH FRVW RXW WR FRXQFLO WD[SD\HUV FRXOG LQFOXGH PRUH WKDQ SUHPLVHV DQG GHDOLQJ DFWLYHO\ PRQLWRULQJ &&79 FDPHUDV RQO\ZLWK DW LVVXHVWLPHV VXFK DV GDQJHURXV GRJV DQWL VRFLDO SHDN 0DLQWHQDQFH RI WKHDQG QHWZRUN FRXOG EHKDYLRXU DOVR EH UHGXFHG VR WKDW UHVRXUFHV DUH IRFXVHG

,Q DGGLWLRQ WKHWKH FRXQFLO SURYLGHV 7KURXJK LWV OLFHQVLQJ UHJLPH WKH î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€ P SXEOLF VDIHW\ DQ\RQH LQ GLVWUHVV RQJUDQWV D QLJKW ZHHNHQGV SHU \HDU LQ H[WHUQDO ,QLVRXW WKH 7KH DLP RI WKLV FRQVXOWDWLRQ WR DW JLYH FRXQFLO JDYH € WR DUWV RUJDQLVDWLRQV UHVLGHQWV D FKDQFH WR WHOO WKH FRXQFLO ZKLFK 7+( &+$//(1*( ZKLFK KHOSHG WKHPPRVW UDLVH DQG RYHUKRZ €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t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q3HRSOHpV SHUFHSWLRQ RI VDIHW\ LQ WKH FLW\ LV 7KH FRXQFLO FRXOG DOVR XVH LWV OLFHQVLQJ IRU VRPH YLVLWRUV RU VRPH H[KLELWLRQV DW WKH YHU\ JRRG 7KLV LV PDVVLYHO\ LPSRUWDQW IRU WKH UHJLPH WR HQFRXUDJH RWKHU VWDNHKROGHUV DQG 5$00 FLW\pV HFRQRP\ DQG IRU RXU FRPPXQLWLHV EXVLQHVVHV WR FRQWULEXWH PRUH WR LPSURYLQJ ,Q RUGHU WRWKH KHOS FRXQFLOORUV PDNH GLIîFXOW %XW ZKHQ FRXQFLO KDV €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q7KH &LW\ &RXQFLO LV FRPPLWWHG WR VXSSRUWLQJ ULJKW EHWZHHQ VDIHW\ LQ WKH &LW\ &HQWUH DQG LQ )RU LV LW EHFDXVH WKH FRXQFLOpV UHVSRQVLELOLW\ FXOWXUH LQ ([HWHU LW LV HVVHQWLDO WR D LQ \RXUH[DPSOH QHLJKERXUKRRGV" ,W ZDQWV WR XQGHUVWDQG WKH H\HV RI WKH SXEOLF WR SUHYHQW VKRSOLIWLQJ" ZKHQ DQG ZKHUH \RX IHHO PRVW VDIH RU XQVDIH 6KRXOG PRUH UHVSRQVLELOLW\" LQ ([HWHUEXVLQHVVHV t ZKHWKHUWDNH LQ \RXU KRPH \RXU 7KHUH DUH PDQ\ TXHVWLRQV ZH QHHG DQVZHU QHLJKERXUKRRG WKH FLW\ FHQWUH RU LQWRFDU SDUNV DQG ,pP ORRNLQJ IRUZDUG WR KHDULQJ ZKDW GXULQJ WKH GD\ RU DW QLJKW WLPH $QG LI \RX IHHO UHVLGHQWV WKLQN r XQVDIH ZK\ LV WKDW" $ PHVVDJH IURP &RXQFLOORU 2OOLH 3HDUVRQ /HDG &RXQFLOORU IRU (QDEOLQJ 6HUYLFHV q3HRSOHpV SHUFHSWLRQ RI VDIHW\ LQ WKH FLW\ LV YHU\ JRRG 7KLV LV PDVVLYHO\ LPSRUWDQW IRU WKH FLW\pV HFRQRP\ DQG IRU RXU FRPPXQLWLHV

JRRG TXDOLW\ RI OLIH IRU ORFDO UHVLGHQWV DQG D VWURQJHU HFRQRP\ IRU ORFDO EXVLQHVVHV EXW ZH DOVR QHHG WR PDNH VXUH ZH FDQ FRQWLQXH WR GHOLYHU WKH FRUH VHUYLFHV WKDW FRXQFLO WD[ SD\HUV UHO\ RQ 7KH DLP RI WKLV FRQVXOWDWLRQ LV WR îQG RXW ZKDWpV LPSRUWDQW WR \RX DQG ZKHUH \RX WKLQN ZH VKRXOG IRFXV RXU LQFUHDVLQJO\ OLPLWHG UHVRXUFHV VXUHKDV WKDW FXOWXUH ([HWHU %XW ZKHQ WR WKHPDNH FRXQFLO € P OHVV WRLQVSHQG )$&7),/( FRQWLQXHV WKULYH HDFK \HDU WR LI ZH DUH JRLQJ WR NHHS GRLQJ PDQ\ ([HWHU &LW\ &RXQFLOpV H[SHQGLWXUH RQDQ\ KHOSLQJ RI WKHVH UHDOO\WR LPSRUWDQW WKHQ ZH DUH :H DOVR ZDQW îQG RXW LIWKLQJV \RX KDYH WR NHHS SHRSOH VDIH LQFOXGHV JRLQJ WR KDYH GR WKHP GLIIHUHQWO\ DQG JHW RWKHU LGHDV IRUWRZD\V WKDW ZH FDQ GR WKLQJV € D \HDU RQ PRQLWRULQJ DQG D GHHS XQGHUVWDQGLQJ RI ZKDW DOO RI XV DV sGLIIHUHQWO\ r PDLQWHQDQFH WKH DERXW FLW\ FHQWUH &&79 WKH ([HWHU UHVLGHQWV RI YDOXH WKH VHUYLFHV )$&7),/( QHWZRUN FRXQFLO SURYLGHV ([HWHU &LW\ &RXQFLOpV QHW DQQXDO H[SHQGLWXUH H[DPSOH LV LW WKH FRXQFLOpV UHVSRQVLELOLW\ LQ RQ &DU 3DUN DQG (QYLURQPHQWDO s)RU€ RQ DUWV DQG FXOWXUH LQFOXGHV WKH(QIRUFHPHQW H\HV RI WKH SXEOLF WR SUHYHQW VKRSOLIWLQJ" UHVSRQVLELOLW\" € PEXVLQHVVHV WR RSHUDWHWDNH DQGPRUH PDLQWDLQ WKH 5R\DO ss6KRXOG € D \HDU RQ )RRG 6DIHW\ 7KHUH DUH 0HPRULDO PDQ\ TXHVWLRQV ZH QHHG WR DQVZHU $OEHUW 0XVHXP ,QVSHFWLRQV DQG ,pP ORRNLQJ IRUZDUG WR KHDULQJ ZKDW € RQ YLVLWRU LQIRUPDWLRQ sUHVLGHQWV WKLQN r s € LQ JUDQW IXQGLQJ IRU DUWV DQG HQWHUWDLQPHQW YHQXHV DQG RUJDQLVDWLRQV € RQ WKH 8QGHUJURXQG 3DVVDJHV s)$&7),/( ([HWHU &LW\ &RXQFLOpV H[SHQGLWXUH RQ KHOSLQJ RQ $UWV (YHQWV LQFOXGLQJ WKH sWR€ NHHS SHRSOH VDIHDQG LQFOXGHV 8QH[SHFWHG ([HWHU IHVWLYDO

HPHUJHQF\ UHDVVXUDQFH € D \HDU KHOS RQ PRQLWRULQJ DQG ss € RQ WKH &RUQ ([FKDQJH

DQG DGYLFHRI WR PDLQWHQDQFH WKHHOGHUO\ FLW\ FHQWUHRU &&79

RQ WRXULVP DQG DUWV QHWZRUN s € YXOQHUDEOH UHVLGHQWV € RQ &DU 3DUN DQG (QYLURQPHQWDO s DGPLQLVWUDWLRQ (QIRUFHPHQW

s € D \HDU RQ )RRG 6DIHW\ ,QVSHFWLRQV

7KH 5R\DO $OEHUW 0HPRULDO 0XVHXP UDLVHV € P HPHUJHQF\ KHOS DURXQG UHDVVXUDQFH SHU DQG \HDU DGYLFH WR HOGHUO\ RU YXOQHUDEOH UHVLGHQWV

&RPSOHWH WKH VXUYH\ RQOLQH DW ZZZ H[HWHUH[SUHVVDQGHFKR FR XN VWURQJHUH[HWHU


EEX-E01-S3 9

&RPSOHWH WKLV VXUYH\ IRU D FKDQFH WR :,1 $1 L3$' 4 +RZ 'R \RX VDIH YLVLW GRRU \RX SDUWLFLSDWH IHHO DZD\LQIURP DQ\ RI KRPH WKH RQ IROORZLQJ D VFDOHDFWLYLWLHV RI " LQYHU\ ([HWHU" VDIH 3OHDVH YHU\ WLFNXQVDIH

DOO WKDW DSSO\ $UW *DOOHULHV DQG 9LVXDO $UWV F 'D\WLPH )HVWLYDOV DQG (YHQWV F 0XVHXPV &LW\ &HQWUH F FF F F F +HULWDJH &DU SDUNVDQG +LVWRULF %XLOGLQJV F FF F F F 0XVLF VKRSSLQJ UHWDLO DUHDV LQ ([HWHU 2WKHU F FF F F F 7KHDWUH 3HUIRUPDQFH F 6WUHHWV QHDU \RXU KRPH F F F F F 2WKHU SOHDVH JLYH GHWDLOV

(YHQLQJ QLJKW 4 ,I \RX DQVZHUHG \HV WR DQ\ RI WKH DERYH ZK\ LQ WKHVH DFWLYLWLHV" GR \RX YLVLW RU SDUWLFLSDWH 7R VRFLDOLVH &LW\ &HQWUH DQG VSHQG WLPH ZLWK IDPLO\ RU IULHQGV F FF F F F 7R EH HQWHUWDLQHG &DU SDUNV F FF F F F 7R OHDUQVKRSSLQJ UHWDLO DUHDV LQ ([HWHU 2WKHU F FF F F F 7R UHOD[QHDU RU XQZLQG 6WUHHWV \RXU KRPH F FF F F F 7R QHWZRUN F 2WKHU SOHDVH JLYH GHWDLOV 4 +DYH \RX HYHU EHHQ D YLFWLP RI KDWH FULPH RU KDUDVVPHQW UHODWHG WR \RXU *HQGHU <HV F 1R F 'LVDELOLW\ <HVWUDYHO F WR SDUWLFLSDWH 1R F LQ WKHVH DFWLYLWLHV" 4 +RZ IUHTXHQWO\ GR \RX 6H[XDOLW\ <HV F 1R F 0RQWKO\ <HDUO\ /HVV WKDQ :HHNO\ 1HYHU 1DWLRQDOLW\ <HV F 1R F RQFH D \HDU :LWKLQ F1R F F F F F 5HOLJLRQ([HWHU <HV F (DVW 'HYRQ 0LG 'HYRQ F F F F F DQG 7HLJQEULGJH 4 ,I \RX KDYH IHOW XQVDIH SOHDVH WHOO XV ZK\ 7LFN DOO WKDW DSSO\ 3O\PRXWK F F F VKRSSLQJF 6WUHHWV QHDU F &LW\ &DU 2WKHU 7RUED\ 7RUTXD\ 3DLJQWRQ %UL[KDP &HQWUH F F F F F 3DUNV 5HWDLO DUHDV \RXU KRPH 5HVW RI 'HYRQ F F FF F $QWL VRFLDO EHKDYLRXU F F FF 5HVW RI 6RXWK :HVW F F F F F 'UXQNHQQHVV F F F F LQFOXGLQJ %ULVWRO 6WUHHWRIGULQNLQJ F F FF 5HVW 8. F F FF F 'UXJ WDNLQJ F F F F /DFN+RZ RI VWUHHW OLJKWLQJDUH WKHVH DFWLYLWLHVF F F F 4 LPSRUWDQW IRU WKH IROORZLQJ" 6WDONLQJUDWH RU KDUDVVPHQW FLPSRUWDQW F 3OHDVH HDFK RQ D VFDOH RI t ZLWKF EHLQJ PRVW DQG WKH OHDVW F 2WKHU SOHDVH WHOO XV

3URYLGLQJ JUHDW WKLQJV IRU UHVLGHQWV F F F F F WR VHH DQG GR 3URYLGLQJ RSSRUWXQLWLHV IRU \RXQJ SHRSOH F F F F F ,PSURYLQJ WKH KHDOWK DQG TXDOLW\ RI F F F F F OLIH RI ORFDO UHVLGHQWV $WWUDFWLQJ YLVLWRUV WR ([HWHU F F F F F 6XSSRUWLQJ H[LVWLQJ EXVLQHVVHV DQG F F F F F DWWUDFWLQJ QHZ LQYHVWPHQW 4 +RZ VDIH GR \RX WKLQN ([HWHU LV RYHUDOO RQ D VFDOH RI " YHU\ VDIH YHU\ XQVDIH ,QFUHDVLQJ WKH SURILOH RI ([HWHU UHJLRQDOO\ F F F F F DQG LQWHUQDWLRQDOO\ QDWLRQDOO\ F F GHWDLOV F F F 2WKHU SOHDVH JLYH 4 ,Q \RXU RSLQLRQ KRZ LPSRUWDQW DUH WKH IROORZLQJ LQ NHHSLQJ ([HWHU D VDIH FLW\ RQ D VFDOH RI 4 RIWHQ GR \RX YLVLWLPSRUWDQW

WKH 5R\DO $OEHUW 0HPRULDO 0XVHXP 5$00 " " +RZ LPSRUWDQW QRW :HHNO\ 0RQWKO\ <HDUO\ /HVV WKDQ 1HYHU RQFH D \HDU 8QLIRUPHG VHFXULW\ VWDII F F F F F F F F F F &&79 F F F F F 4 ,I \RX YLVLW 5$00 ZKDW DUH \RXU UHDVRQV IRU 9LVLEOH SROLFH SUHVHQFH F YLVLWLQJ" F 3OHDVH F WLFN DOO FWKDW DSSO\ F 3HUPDQHQW H[KLELWLRQV F 9LVLEOH 3&62 3ROLFH &RPPXQLW\ 6XSSRUW F F F F 6SHFLDO F 2IILFHU H[KLELWLRQV SUHVHQFH 7DONV OHFWXUHV DQG VSHFLDO HYHQWV F &RPPXQLW\ SDWUROOHUV F F F F F )DPLO\ DFWLYLWLHV F &RUSRUDWH HYHQWV F 5HVHDUFK F 4 :KDW DUH \RXU PDLQ UHDVRQV IRU YLVLWLQJ WKH FLW\ FHQWUH H[FOXGLQJ ZRUN" &DIH F 'D\WLPH (YHQLQJ 2WKHU SOHDVH JLYH GHWDLOV &OXEV EDUV SXEV F F 7KHDWUH PXVLF ILOPV RWKHU HQWHUWDLQPHQW F F 4 +RZ LPSRUWDQW GR \RX WKLQN LW LV IRU 5$00 3OHDVH UDWH HDFK RQ D VFDOH 6KRSSLQJ FWR GR WKH IROORZLQJ" F RI t RXW ZLWK EHLQJ PRVW LPSRUWDQW DQG WKHF OHDVW (DWLQJ F 9LVLWLQJ DWWUDFWLRQV F F 3URYLGLQJ JUHDW WKLQJV IRU F F F F F 5$00 1RUWKHUQKD\ JDUGHQV HWF

UHVLGHQWV VHH DQG GR )HVWLYDOV WRHYHQWV F F 3URYLGLQJ RSSRUWXQLWLHV IRU \RXQJ SHRSOH F F F F 6SRUWV F FF ,PSURYLQJ WKH KHDOWK DQG TXDOLW\ RI OLIH F F F F F RI ORFDO UHVLGHQWV $WWUDFWLQJ YLVLWRUV WR ([HWHU F F F F F 6XSSRUWLQJ H[LVWLQJ EXVLQHVVHV DQG F F F F F DWWUDFWLQJ QHZ LQYHVWPHQW ,QFUHDVLQJ WKH SURîOH RI ([HWHU F F F F F UHJLRQDOO\ QDWLRQDOO\ DQG LQWHUQDWLRQDOO\ 2WKHU SOHDVH JLYH GHWDLOV

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

7KHVH TXHVWLRQV DUH RSWLRQDO EXW WKH\ ZLOO KHOS XV WR EHWWHU XQGHUVWDQG WKH VXUYH\ UHVXOWV 4 ,I PRQH\ QHHGV WR EH VDYHG VKRXOG WKH &LW\ &RXQFLO UHGXFH IXQGLQJ IRU DQ\ RI WKH +RZ ROG DUH \RX" F F F F IROORZLQJ" )XQGLQJ WR VXSSRUW ORFDO FXOWXUDO FF 1R F 8QVXUH 1R RSLQLRQ F F F<HV RUJDQLVDWLRQV DQG YHQXHV *HQGHU F )HPDOH F *UDQWV IRU ORFDO FXOWXUDO0DOH SURMHFWV <HV 7UDQVJHQGHU F 1R F F 8QVXUH 1R RSLQLRQ F DQG\RX HYHQWV 'R KDYH FKLOGUHQ DJHG RU XQGHU" < F 1 F )HVWLYDOV DQG HYHQWV RUJDQLVHG <HV F 1R F 8QVXUH 1R RSLQLRQ F $UH \RXU GD\&RXQFLO WR GD\ DFWLYLWLHV OLPLWHG E\ D GLVDELOLW\ RU LOOQHVV" < F 1 F E\ WKH &LW\ &RPPXQLW\ (YHQWV DQG )HVWLYDOV <HV F 1R F 8QVXUH 1R RSLQLRQ F 3RVWFRGH 4 'R \RX KDYH DQ\ RWKHU FRPPHQWV DERXW WKH LVVXHV UDLVHG LQ WKLV VXUYH\" 7KDQN \RX )RU \RXU FKDQFH WR ZLQ DQ L3DG ZH QHHG WKH IROORZLQJ LQIRUPDWLRQ 7KLV LQIRUPDWLRQ ZLOO EH KHOG VHSDUDWHO\ IURP \RXU VXUYH\ UHVSRQVHV DQG ZLOO QRW EH SDVVHG RQ WR ([HWHU &LW\ &RXQFLO <RXU QDPH 7KHVH TXHVWLRQV DUH RSWLRQDO EXW WKH\ ZLOO KHOS XV WR EHWWHU XQGHUVWDQG WKH VXUYH\ UHVXOWV <RXU HPDLO DGGUHVV +RZ ROG DUH \RX" F F F F F F F <RXU WHOHSKRQH QXPEHU *HQGHU 0DOH F )HPDOH F 7UDQVJHQGHU F )RU WHUPV DQGFKLOGUHQ FRQGLWLRQV 'R \RX KDYH DJHGYLVLW RU XQGHU" < F 1 F H[HWHUH[SUHVVDQGHFKR FR XN FRPSHWLWLRQWHUPVDQGFRQGLWLRQV $UH \RXU GD\ WR GD\ DFWLYLWLHV OLPLWHG E\ D GLVDELOLW\ RU LOOQHVV" < F 1 F 3RVWFRGH ([SUHVV (FKR DORQJ ZLWK ([HWHU &LW\ &RXQFLO WDNH \RXU SULYDF\ VHULRXVO\ 7KDQNWLPH \RX WR)RU \RXUZHFKDQFH ZLQ L3DG ZH WKH IROORZLQJ )URP WLPH ZRXOGWR OLNH WRDQ FRQWDFW \RXQHHG E\ HPDLO ZLWK RWKHULQIRUPDWLRQ RIIHUV DQG VHUYLFHV IURP WKH 7KLV LQIRUPDWLRQ ZLOO EH VHSDUDWHO\ IURP \RXU VXUYH\ UHVSRQVHV DQGGDWD ZLOO QRW SDVVHG WR ([SUHVV (FKR ZKLFK ZHKHOG WKLQN PD\ EH RI LQWHUHVW :H ZRQp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pW VKDUH \RXU GDWD ZLWK DQ\ WKLUG SDUWLHV :RXOG \RX EH KDSS\ WR UHFHLYH WKLV LQIRUPDWLRQ" <HV F 1R F 3OHDVH UHWXUQ \RXU VXUYH\ WR ([SUHVV (FKR +HURQ 5RDG ([HWHU (; 1) 2U FRPSOHWH RQOLQH DW ZZZ H[HWHUH[SUHVVDQGHFKR FR XN VWURQJHUH[HWHU


EEX-E01-S3 10

%XGJHW &RQVXOWDWLRQ

&8/785$/ &,7< ,1752'8&7,21

([HWHU &LW\ &RXQFLO KDV WHDPHG XS ZLWK WKH ([SUHVV (FKR WR FDUU\ RXW D PDMRU SXEOLF FRQVXOWDWLRQ ZKLFK DLPV WR îQG ZD\V RI EXLOGLQJ D 6WURQJHU ([HWHU ZKLOH EDODQFLQJ LWV EXGJHW DPLG RQJRLQJ UHGXFWLRQV LQ JRYHUQPHQW IXQGLQJ $V WKH FRXQFLO ORRNV WR VDYH € P D \HDU RYHU WKH QH[W WKUHH \HDUV LW ZLOO QHHG WR GR VRPH WKLQJV GLIIHUHQWO\ DQG VWRS GRLQJ VRPH WKLQJV DOWRJHWKHU 7KLV LV \RXU FKDQFH WR WHOO FRXQFLOORUV ZKDW \RX WKLQN WKH FLW\pV SULRULWLHV VKRXOG EH +HUH LQ WKH WKLUG RI IRXU ZHHNO\ VXUYH\V ZH ZDQW \RXU YLHZV RQ ([HWHUpV FXOWXUDO RIIHU

:+$7 (;(7(5 &,7< &281&,/ &855(17/< '2(6

$ WKULYLQJ FXOWXUDO DQG DUWLVWLF VFHQH KHOSV PDNH ([HWHU D YLEUDQW SODFH ZKHUH SHRSOH ZDQW WR OLYH DQG ZRUN 2QH RI WKH FLW\pV PDLQ DWWUDFWLRQV LV WKH &LW\ &RXQFLO RZQHG 5R\DO $OEHUW 0HPRULDO 0XVHXP 5$00 ZKLFK KDV ZRQ D KRVW RI DZDUGV VLQFH LWV UHGHYHORSPHQW ZDV FRPSOHWHG QHDUO\ WKUHH \HDUV DJR LQFOXGLQJ WKH SUHVWLJLRXV $UW )XQG 0XVHXP RI WKH <HDU WLWOH IRU 6LQFH UH RSHQLQJ WKH 5$00 KDV ZHOFRPHG RYHU IUHH DGPLVVLRQ YLVLWRUV

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îQDQFLDO VXSSRUW IRU FXOWXUDO DQG VSRUWLQJ HYHQWV DURXQG WKH FLW\ DQG FRXQFLO VWDII KHOS RWKHU JURXSV WR RUJDQLVH IHVWLYDOV PDUNHWV DQG FRPPXQLW\ HYHQWV &LW\ &RXQFLO IXQGLQJ KHOSV RUJDQLVDWLRQV WR UDLVH PRUH PRQH\ 5$00 UDLVHV DURXQG € P SHU \HDU LQ H[WHUQDO JUDQWV ,Q WKH FRXQFLO JDYH € WR DUWV RUJDQLVDWLRQV ZKLFK KHOSHG WKHP UDLVH RYHU € P LQ JUDQWV DQG RWKHU LQFRPH

7+( &+$//(1*(

$V WKH FRXQFLO ORRNV WR EDODQFH LWV EXGJHW SRWHQWLDO ZD\V RI VDYLQJ PRQH\ ZKLFK PLJKW SUHYLRXVO\ KDYH EHHQ VHHQ DV XQSDODWDEOH ZLOO QHHG WR EH FRQVLGHUHG ,Q WKLV DUHD SRWHQWLDO RSWLRQV IRU VDYLQJ PRQH\ FRXOG LQFOXGH UHGXFLQJ RSHQLQJ KRXUV DW WKH 5$00 DQG WKH 8QGHUJURXQG 3DVVDJHV 2WKHU RSWLRQV ZKLFK ZLOO ZH QHHG WR FRQVLGHUHG FRXOG LQFOXGH LQWURGXFLQJ FKDUJHV IRU VRPH YLVLWRUV RU VRPH H[KLELWLRQV DW WKH 5$00 ,Q RUGHU WR KHOS FRXQFLOORUV PDNH GLIîFXOW GHFLVLRQV DERXW ZKHUH UHVRXUFHV VKRXOG EH IRFXVHG LQ IXWXUH ZH QHHG \RXU YLHZV

$ PHVVDJH IURP &RXQFLOORU 5RVLH 'HQKDP /HDG &RXQFLOORU IRU (FRQRP\ DQG &XOWXUH q7KH &LW\ &RXQFLO LV FRPPLWWHG WR VXSSRUWLQJ FXOWXUH LQ ([HWHU EHFDXVH LW LV HVVHQWLDO WR D JRRG TXDOLW\ RI OLIH IRU ORFDO UHVLGHQWV DQG D VWURQJHU HFRQRP\ IRU ORFDO EXVLQHVVHV EXW ZH DOVR QHHG WR PDNH VXUH ZH FDQ FRQWLQXH WR GHOLYHU WKH FRUH VHUYLFHV WKDW FRXQFLO WD[ SD\HUV UHO\ RQ 7KH DLP RI WKLV FRQVXOWDWLRQ LV WR îQG RXW ZKDWpV LPSRUWDQW WR \RX DQG ZKHUH \RX WKLQN ZH VKRXOG IRFXV RXU LQFUHDVLQJO\ OLPLWHG UHVRXUFHV WR PDNH VXUH WKDW FXOWXUH LQ ([HWHU FRQWLQXHV WR WKULYH :H DOVR ZDQW WR îQG RXW LI \RX KDYH DQ\ RWKHU LGHDV IRU ZD\V WKDW ZH FDQ GR WKLQJV GLIIHUHQWO\ r

)$&7),/(

([HWHU &LW\ &RXQFLOpV QHW DQQXDO H[SHQGLWXUH RQ DUWV DQG FXOWXUH LQFOXGHV

s € P WR RSHUDWH DQG PDLQWDLQ WKH 5R\DO $OEHUW 0HPRULDO 0XVHXP

s € RQ YLVLWRU LQIRUPDWLRQ s € LQ JUDQW IXQGLQJ IRU DUWV DQG

HQWHUWDLQPHQW YHQXHV DQG RUJDQLVDWLRQV

s € RQ WKH 8QGHUJURXQG 3DVVDJHV s € RQ $UWV DQG (YHQWV LQFOXGLQJ WKH 8QH[SHFWHG ([HWHU IHVWLYDO

s € RQ WKH &RUQ ([FKDQJH s € RQ WRXULVP DQG DUWV DGPLQLVWUDWLRQ

7KH 5R\DO $OEHUW 0HPRULDO 0XVHXP UDLVHV DURXQG € P SHU \HDU

&RPSOHWH WKH VXUYH\ RQOLQH DW ZZZ H[HWHUH[SUHVVDQGHFKR FR XN VWURQJHUH[HWHU


EEX-E01-S3 11

&RPSOHWH WKLV VXUYH\ IRU D FKDQFH WR :,1 $1 L3$' 4 'R \RX YLVLW RU SDUWLFLSDWH LQ DQ\ RI WKH IROORZLQJ DFWLYLWLHV LQ ([HWHU" 3OHDVH WLFN DOO WKDW DSSO\ $UW *DOOHULHV DQG 9LVXDO $UWV F )HVWLYDOV DQG (YHQWV F 0XVHXPV F +HULWDJH DQG +LVWRULF %XLOGLQJV F 0XVLF F 7KHDWUH 3HUIRUPDQFH F 2WKHU SOHDVH JLYH GHWDLOV

4 ,I \RX DQVZHUHG \HV WR DQ\ RI WKH DERYH ZK\ GR \RX YLVLW RU SDUWLFLSDWH LQ WKHVH DFWLYLWLHV" 7R VRFLDOLVH DQG VSHQG WLPH ZLWK IDPLO\ RU IULHQGV F 7R EH HQWHUWDLQHG F 7R OHDUQ F 7R UHOD[ RU XQZLQG F 7R QHWZRUN F 2WKHU SOHDVH JLYH GHWDLOV 4 +RZ IUHTXHQWO\ GR \RX WUDYHO WR SDUWLFLSDWH LQ WKHVH DFWLYLWLHV" :HHNO\ 0RQWKO\ <HDUO\ /HVV WKDQ 1HYHU RQFH D \HDU :LWKLQ ([HWHU F F F F F (DVW 'HYRQ 0LG 'HYRQ F F F F F DQG 7HLJQEULGJH 3O\PRXWK F F F F F 7RUED\ 7RUTXD\ 3DLJQWRQ %UL[KDP

F F F F F 5HVW RI 'HYRQ F F F F F 5HVW RI 6RXWK :HVW F F F F F LQFOXGLQJ %ULVWRO 5HVW RI 8. F F F F F 4 +RZ LPSRUWDQW DUH WKHVH DFWLYLWLHV IRU WKH IROORZLQJ" 3OHDVH UDWH HDFK RQ D VFDOH RI t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t ZLWK EHLQJ PRVW LPSRUWDQW DQG WKH OHDVW 3URYLGLQJ JUHDW WKLQJV IRU F F F F F UHVLGHQWV WR VHH DQG GR 3URYLGLQJ RSSRUWXQLWLHV IRU \RXQJ SHRSOH F F F F F ,PSURYLQJ WKH KHDOWK DQG TXDOLW\ RI OLIH F F F F F RI ORFDO UHVLGHQWV $WWUDFWLQJ YLVLWRUV WR ([HWHU F F F F F 6XSSRUWLQJ H[LVWLQJ EXVLQHVVHV DQG F F F F F DWWUDFWLQJ QHZ LQYHVWPHQW ,QFUHDVLQJ WKH SURîOH RI ([HWHU F F F F F UHJLRQDOO\ QDWLRQDOO\ DQG LQWHUQDWLRQDOO\ 2WKHU SOHDVH JLYH GHWDLOV

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

F F F F F F

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pW VKDUH \RXU GDWD ZLWK DQ\ WKLUG SDUWLHV :RXOG \RX EH KDSS\ WR UHFHLYH WKLV LQIRUPDWLRQ" <HV F 1R F 'HDGOLQH IRU VXUYH\V LV 1RYHPEHU 6HQG \RXU FRPSOHWHG VXUYH\ WR ([SUHVV (FKR +HURQ 5RDG ([HWHU (; 1) 2U FRPSOHWH RQOLQH DW ZZZ H[HWHUH[SUHVVDQGHFKR FR XN VWURQJHUH[HWHU


EEX-E01-S3 12

+$9( <285 6$< :H ZDQW \RXU YLHZV RQ KRZ XOG EH ([HWHU &LW\ &RXQFLO VHUYLFHV FRXOG GHOLYHUHG LQ D IXWXUH RI UHGXFHG SXEOLF VHFWRU VSHQGLQJ 7KH 6WURQJHU ([HWHU FRQVXOWDWLRQ FRYHUV IRXU NH\ WKHPHV

3$5.6 $1' 38%/,& 3/$&(6 +(/3,1* 3(23/( &8/785$/ &,7< 6$)(5 &,7< <RX FDQ DOVR FRPSOHWH WKH VXUYH\V RQOLQH E\ YLVLWLQJ ZZZ H[HWHUH[SUHVVDQGHFKR FR XN VWURQJHUH[HWHU RU ZZZ H[HWHU JRY XN EXGJHWFRQVXOWDWLRQ $OWHUQDWLYHO\ SRS LQ WR WKH &LYLF &HQWUH 3DULV 6WUHHW RU 7RXULVW ,QIRUPDWLRQ &HQWUH ZKHUH FRSLHV RI WKH TXHVWLRQQDLUHV ZLOO EH DYDLODEOH WR SLFN XS

)RU PRUH LQIRUPDWLRQ SKRQH


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.