Post on 10-Jul-2020
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>WZ/K/E>hz
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-ůŽũĂŵŝĞŶƚŽĞŶĐĂŵĂƌŽƚĞŝŶƚĞƌŝŽƌ
-ZĠŐŝŵĞŶdŽĚŽ/ŶůĐƵŝĚŽ
-ĐĐĞƐŽLJƵƐŽĚĞŝŶƐƚĂůĂĐŝŽŶĞƐ
-WĂƌƟĐŝƉĂĐŝſŶƉƌŽŐƌĂŵĂƐĂŶŝŵĂĐŝſŶLJĂĐƟǀŝĚĂĚĞƐ
-DƷƐŝĐĂĞŶǀŝǀŽ
-&ŝƚŶĞƐƐĐĞŶƚĞƌLJƉŝƐƚĂĚĞĨŽŽƟŶŐĂůĂŝƌĞůŝďƌĞ
-dŽĚĂƐůĂƐƉŝƐĐŝŶĂƐũĂĐƵnjnjŝƐLJƐŽůĄƌŝƵŵ
-ŝďůŝŽƚĞĐĂŝƐĐŽƚĞĐĂ
-^ĞůĞĐĐŝſŶĚĞƉĞůşĐƵůĂƐĂďŽƌĚŽLJĐĂŶĂůĞƐĚĞƚĞůĞǀŝƐŝſŶ
>WZ/KEK/E>hz -dĂƐĂƐĚĞƉƵĞƌƚŽ
-sŝƐĂĚŽƐLJŽƚĂƐĂƐŐƵďĞƌŶĂŵĞŶƚĂůĞƐĚĞĞŶƚƌĂĚĂLJƐĂůŝĚĂĂĐƵĂůƋƵŝĞƌĂĚĞůŽƐƉĂşƐĞƐŝŶĐůƵŝĚŽƐĞŶĞůŝƟŶĞƌĂƌŝŽƋƵĞƐĞƌĄŶĂďŽŶĂĚŽƐĚŝƌĞĐƚĂŵĞŶͲƚĞƉŽƌĞůƉĂƐĂũĞƌŽĞŶĐĂƐŽĚĞƐĞƌƌĞƋƵĞƌŝĚŽƉŽƌůĂƐĂƵƚŽƌŝĚĂĚĞƐůŽĐĂůĞƐƚĂƐĂƐƚƵƌşƐƟĐĂƐƉŽƌĂůŽũĂŵŝĞŶƚŽ
-džĐĞƐŽĚĞĞƋƵŝƉĂũĞƐ
-ĞƌƟĮĐĂĚŽĚĞǀĂĐƵŶĂĐŝſŶ
-WĂƋƵĞƚĞĚĞďĞďŝĚĂƐWƌĞŵŝƵŵŽƐĞƌǀŝĐŝŽƐKƉĐŝŽŶĂůĞƐ
-/ŶƚĞƌŶĞƚLJǁŝĮĞŶůĂƐnjŽŶĂƐƌĞƐĞƌǀĂĚĂƐ
-DŝŶŝďĂƌƐĞƌǀŝĐŝŽŚĂďŝƚĂĐŝŽŶĞƐϮϰŚ
->ůĂŵĂĚĂƐƚĞůĞĨſŶŝĐĂƐŽŵĞŶƐĂũĞƐĞŶƟĞƌƌĂ
-džĐƵƌƐŝŽŶĞƐ
1ϭW>DD>>KZW/K^hZKW
^ĂůŝĚĂĂůĂŚŽƌĂĐŽŶǀĞŶŝĚĂĚĞƐĚĞĞůĂĞƌŽƉƵĞƌƚŽĚĞWĂůŵĂ>ůĞŐĂĚĂĂĐŽŵŽĚĂĐŝſŶĞŶĞůĂƵƚŽĐĂƌLJƐĂůŝĚĂĞŶĚŝƌĞĐĐŝſŶĂůŚŽƚĞůƌĞƉĂƌƟĐŝſŶĚĞŚĂďŝƚĂĐŝŽŶĞƐĐĞŶĂLJĂůŽũĂŵŝĞŶƚŽ
1Ϯ^E^KEEKWKZ>^>>>>E^
ĞƐĂLJƵŶŽŵƉĞnjĂŵŽƐĞůĚşĂĐŽŶůĂĂĐƟǀŝĚĂĚĚĞĂŶŽĂĞƐĐĞŶĚĞƌĞŵŽƐĞůĨĂŵŽƐŽƌşŽ^ĞůůĂĞŶĐĂŶŽĂƐďŝƉůĂnjĂƐĚŝƐĨƌƵƚĂŶĚŽĚĞůĂĂǀĞŶƚƵƌĂLJůĂŶĂƚƵƌĂůĞnjĂůŵƵĞƌnjŽƟƉŽƉŝĐŶŝĐWŽƌůĂƚĂƌĚĞƌĞĂůŝnjĂƌĞŵŽƐƵŶĂǀŝƐŝƚĂĚĞůĂǀŝůůĂĚĞ>ůĂŶĞƐƚĞŶĚƌĞŵŽƐƟĞŵƉŽůŝďƌĞƉĂƌĂĐŽŶŽĐĞƌƐƵĐĂƐĐŽĂŶƟŐƵŽƉĂƐĞĂƌƉŽƌƐƵƉƵĞƌƚŽƉĞƐƋƵĞƌŽŽďŝĞŶĚŝƐĨƌƵƚĂƌĚĞĂůŐƵŶĂĚĞƐƵƐƉƌĞĐŝŽƐĂƐƉůĂLJĂƐZĞŐƌĞƐŽĂůŚŽƚĞůĐĞŶĂLJĂůŽũĂŵŝĞŶƚŽ
1ϯKs/KDh^K>D/EZ1z>/Eh^dZ/
ĞƐĂLJƵŶŽ,ŽLJƌĞĂůŝnjĂƌĞŵŽƐƵŶĂƌƵƚĂƉŽƌĞůƉƌĞ-ƌŽŵĄŶŝĐŽĂƐƚƵƌŝĂŶŽEƵĞƐƚƌĂƉƌŝŵĞƌĂƉĂƌĂĚĂƐĞƌĄĞŶůĂƐŝŐůĞƐŝĂƐĚĞ^ĂŶƚĂDĂƌŝĂĚĞůEĂƌĂŶĐŽLJ^ĂŶDŝŐƵĞůĚĞ>ŝůůŽ;ĞŶƚƌĂĚĂŶŽŝŶĐůƵŝĚĂͿĂŵďŽƐŵŽŶƵŵĞŶƚŽƐĚĞĐůĂƌĂĚŽƐƉĂƚƌŝŵŽŶŝŽĚĞůĂŚƵŵĂŶŝĚĂĚƉŽƌůĂhE^KŽŶƟŶƵĂĐŝſŶĚĞŶƵĞƐƚƌŽǀŝĂũĞŚĂƐƚĂKǀŝĞĚŽĐĂƉŝƚĂůĚĞůWƌŝŶĐŝƉĂĚŽĚĞƐƚƵƌŝĂƐdĞŶĚƌĞŵŽƐƟĞŵƉŽůŝďƌĞƉĂƌĂǀŝƐŝƚĂƌƐƵĂƚĞĚƌĂůLJƉĂƐĞĂƌƉŽƌƐƵĐĂƐĐŽŚŝƐƚſƌŝĐŽůŵƵĞƌnjŽƟƉŽƉŝĐŶŝĐůĂŚŽƌĂĐŽŶǀĞŶŝĚĂǀŝƐŝƚĂƌĞͲŵŽƐĞůDƵƐĞŽĚĞůĂDŝŶĞƌşĂ;ĞŶƚƌĂĚĂŶŽŝŶĐůƵŝĚĂͿĞŶĂLJůŽũĂŵŝĞŶƚŽ
1ϰ^EZ/^DKEW/K^hZKWW/Ed>>
ĞƐĂLJƵŶŽ,ŽLJƌĞĂůŝnjĂƌĞŵŽƐƵŶĂƌƵƚĂĚĞƐĞŶĚĞƌŝƐŵŽƉŽƌĞůWĂƌƋƵĞEĂĐŝŽŶĂůĚĞ ůŽƐWŝĐŽƐĚĞƵƌŽƉĂ ;ŽǀĂĚŽŶŐĂLJ ůŽƐ>ĂŐŽƐͿsŝƐŝƚĂƌĞŵŽƐĞů^ĂŶƚƵĂƌŝŽĚĞŽǀĂĚŽŶŐĂůĂ^ĂŶƚĂƵĞǀĂLJŚĂƌĞŵŽƐƵŶƌĞĐŽƌƌŝĚŽĂƉŝĞƉĂƌĂďŽƌĚĞĂƌůŽƐ>ĂŐŽƐŶŽůLJƌĐŝŶĂZĞŐƌĞƐŽĂůĂůďĞƌŐƵĞƉĂƌĂĞůĂůŵƵĞƌnjŽWŽƌůĂƚĂƌĚĞƌĞĂůŝnjĂƌĞŵŽƐƵŶĂŽŵƉĞƟĐŝſŶĚĞWĂŝŶƚĂůů^ĞƉƌĂĐƟĐĂĐŽŶƉŝƐƚŽůĂƐƋƵĞĚŝƐƉĂƌĂŶďŽůĂƐĚĞŐĞůĂƟŶĂLJĂŐƵĂĐŽůŽƌĞĂĚĂƐƵŶĚĞƉŽƌƚĞƐĞŐƵƌŽLJĂƋƵĞůĂƐŵĂƌĐĂĚŽƌĂƐLJůĂƐďŽůĂƐƐŽŶŝŶŽĨĞŶƐŝǀĂƐZĞĐŽŵĞŶĚĂŵŽƐƉĂŶƚĂůſŶůĂƌŐŽŵĂŶŐĂůĂƌŐĂLJĐĂůnjĂĚŽĚĞƉŽƌƟǀŽZĞŐƌĞƐŽĂůŚŽƚĞůĐĞŶĂLJĂůŽũĂŵŝĞŶƚŽ
1ϱ^Ed/>>E>DZEKhs>dD/Z^W>K>K'1
ĞƐĂLJƵŶŽdžĐƵƌƐŝſŶĂ^ĂŶƟůůĂŶĂĚĞůDĂƌLJůĂŶĞŽĐƵĞǀĂĚĞůƚĂŵŝƌĂsŝƐŝƚĂƌĞŵŽƐůĂǀŝůůĂŵĞĚŝĞǀĂůĚĞ^ĂŶƟůůĂŶĂƚƌĂƐůĂĚĄŶĚŽŶŽƐĞŶĞůƟĞŵƉŽLJĚŝƐĨƌƵƚĂŶĚŽĚĞƐƵĐĂƐĐŽĞŵƉĞĚƌĂĚŽdĂŵďŝĠŶǀŝƐŝƚĂƌĞŵŽƐůĂƌĞƉƌŽĚƵĐĐŝſŶĚĞůĂƐĐƵĞǀĂƐĚĞůƚĂŵŝƌĂ;ĞŶƚƌĂĚĂŶŽŝŶĐůƵŝĚĂͿƉĂƌĂĐŽŶŽĐĞƌůĂǀŝĚĂĚĞůŽƐƉƌŝŵĞƌŽƐƉŽďůĂĚŽƌĞƐĚĞůĂƉĞŶşŶƐƵůĂŝďĠƌŝĐĂŽŵŝĚĂĚĞƉŝĐŶŝĐĞƌĞŐƌĞƐŽƌĞĂůŝnjĂƌĞŵŽƐůĂĂĐƟǀŝĚĂĚĚĞĞƐƉĞůĞŽůŽŐşĂĞŶůĂĐƵĞǀĂĚĞĐŽďŝũĞƌŽŶƚƌĂƌĞŵŽƐĞŶƵŶĂƉĞƋƵĞŹĂĐƵĞǀĂĐŽŶĐĂƐĐŽƐLJĨƌŽŶƚĂůĞƐƋƵĞŶŽƐůůĞǀĂƌĄŚĂƐƚĂĞůŵĂƌĐŽŵƉƌĞŶĚŝĞŶĚŽĞůĨĞŶſŵĞŶŽ<ĄƌƐƟĐŽĞŶƚŽĚŽƐƵĞƐƉůĞŶĚŽƌZĞŐƌĞƐŽĂůŚŽƚĞůĐĞŶĂLJĂůŽũĂŵŝĞŶƚŽ
1ϲW/K^hZKWW>DD>>KZ
ĞƐĂLJƵŶŽůĂŚŽƌĂĐŽŶǀĞŶŝĚĂƐĂůĚƌĞŵŽƐŚĂĐŝĂĞůĂĞƌŽƉƵĞƌƚŽKǀŝĞĚŽĚŽŶĚĞŝŶŝĐŝĂƌĞŵŽƐůŽƐƚƌĂŵŝƚĞƐĚĞĞŵďĂƌƋƵĞĐŽŶĚĞƐƟŶŽĂWĂůŵĂ>ůĞŐĂĚĂLJĮŶĚĞŶƵĞƐƚƌŽƐƐĞƌǀŝĐŝŽƐ
>WZ/K/E>hz -ůŽũĂŵŝĞŶƚŽĞŶŚĂďƐLJŽĐĂďĂŹĂƐĚĞŵĂĚĞƌĂĚĞϲƉůĂnjĂƐ
-ǀŝſŶWĂůŵĂƐƚƵƌŝĂƐWĂůŵĂƌĞƐŝĚĞŶƚĞďĂůĞĂƌ
-ƵƚŽĐĂƌĐŽŶĂŝƌĞĂĐŽŶĚŝĐŝŽŶĂĚŽLJǀŝĚĞŽ
-ZĠŐŝŵĞŶĚĞWĞŶƐŝſŶŽŵƉůĞƚĂ
-ŝƐƚƌŝďƵĐŝſŶĞŶŚĂďŝƚĂĐŝŽŶĞƐŵƷůƟƉůĞƐ
-^ĞŐƵƌŽĚĞǀŝĂũĞ
-DŽŶŝƚŽƌĞƐƉĂƌĂůĂƌĞĂůŝnjĂĐŝſŶĚĞůĂƐĂĐƟǀŝĚĂĚĞƐ
-sŝƐŝƚĂƐŝŶĚŝĐĂĚĂƐĞŶĞůŝƟŶĞƌĂƌŝŽ
- ĐƟǀŝĚĂĚĞƐĚĞĂǀĞŶƚƵƌĂŝŶĚŝĐĂĚĂƐĞŶĞůŝƟŶĞƌĂƌŝŽ
>WZ/KEK/E>hz
-džƚƌĂƐĞŶŚŽƚĞůĞƐĞŶƚƌĂĚĂƐĂŵƵƐĞŽƐLJŵŽŶƵŵĞŶƚŽƐLJŐƵşĂƐĂĐŽŵƉĂŹĂŶƚĞƐLJŽůŽĐĂůĞƐ
-ƵĂůƋƵŝĞƌƐĞƌǀŝĐŝŽŶŽĚĞƚĂůůĂĚŽĞŶĞůƉƌŽŐƌĂŵĂ
ϲĚşĂƐĞƐĚĞ ϰϭϱϬϬΦ
/ϭW>DD>>KZW/Z/EKd>E
^ĂůŝĚĂĂůĂŚŽƌĂĐŽŶǀĞŶŝĚĂĚĞƐĚĞĞůĂĞƌŽƉƵĞƌƚŽĚĞWĂůŵĂ>ůĞŐĂĚĂĂĐŽŵŽĚĂĐŝſŶĞŶĞůĂƵƚŽĐĂƌLJƐĂůŝĚĂĞŶĚŝƌĞĐĐŝſŶĂůsĂůůĚDzƌĂŶ>ůĞŐĂĚĂĂůŚŽƚĞůĐĞŶĂLJĂůŽũĂŵŝĞŶƚŽ
/Ϯ,1W/Wd/E:^KZ,/>K
ĞƐĂLJƵŶŽWŽƌůĂŵĂŹĂŶĂƌĞĂůŝnjĂƌĞŵŽƐƵŶĂƐĞƐŝſŶĚĞŚşƉŝĐĂĞŶůĂƋƵĞĚĞŵŽƐƚƌĂƌĞŵŽƐŶƵĞƐƚƌĂƐŚĂďŝůŝĚĂĚĞƐĂůŽŵŽƐĚĞƵŶĐĂďĂůůŽůŵƵĞƌͲnjŽĞŶĞůŚŽƚĞůĞĚŝĐĂƌĞŵŽƐůĂƚĂƌĚĞĂƉĂƟŶĂƌƐŽďƌĞŚŝĞůŽŝŶƚĞŶƚĂŶĚŽĐĂĞƌŶŽƐůŽŵĞŶŽƐƉŽƐŝďůĞZĞŐƌĞƐŽĂůŚŽƚĞůĐĞŶĂLJĂůŽũĂŵŝĞŶƚŽ
/ϯs>>ZE/Zh/dKKZ/Ed/ME
ĞƐĂLJƵŶŽdžĐƵƌƐŝſŶĐƵůƚƵƌĂůĂůsĂůůĞĚĞĚDzƌĂŶĚŽŶĚĞƉŽĚƌĞŵŽƐĚŝƐĨƌƵƚĂƌĚĞƵŶŝŵƉŽƌƚĂŶƚĞĐŽŶũƵŶƚŽĂƌơƐƟĐŽŵŽŶƵŵĞŶƚĂůŝŶƚĞŐƌĂĚĂƐƉŽƌŝŐůĞƐŝĂƐƌŽŵĄŶŝĐĂƐĚĞƌŝĐĂŽƌŶĂŵĞŶƚĂĐŝſŶƌƷƐƟĐĂƉĞƌŽŵƵLJĞdžƉƌĞƐŝǀĂŶĞƐƚĂnjŽŶĂƚĂŵďŝĠŶĚĞƐƚĂĐĂŶĞůĞŵĞŶƚŽƐĚĞĂƌƋƵŝƚĞĐƚƵƌĂĐŝǀŝůĐŽͲŵŽĐĂƐƟůůŽƐĨŽƌƟĮĐĂĚŽƐĐĂƐĂƐƐĞŹŽƌŝĂůĞƐŵŽůŝŶŽƐĚĞĂĐĞŝƚĞŽĂďƌĞǀĂĚĞƌŽƐůŵƵĞƌnjŽĞŶĞůŚŽƚĞůWŽƌůĂƚĂƌĚĞƌĞĂůŝnjĂƌĞŵŽƐƵŶ ŝŶŐĞŶŝŽƐŽĐŝƌĐƵŝƚŽĚĞŽƌŝĞŶƚĂĐŝſŶƋƵĞƉŽŶĚƌĄĂƉƌƵĞďĂƚŽĚŽƐŶƵĞƐƚƌŽƐƐĞŶƟĚŽƐZĞŐƌĞƐŽĂůŚŽƚĞůĐĞŶĂLJĂůŽũĂŵŝĞŶƚŽ
/ϰWZYhE/KE>/'m^dKZd^Eϰyϰ^EZ/^DK
ĞƐĂLJƵŶŽdžĐƵƌƐŝſŶĚĞĚşĂĐŽŵƉůĞƚŽĂůWĂƌƋƵĞEĂĐŝŽŶĂůĚĞŝŐƺĞƐƚŽƌƚĞƐĐŽŶĂůŵƵĞƌnjŽĞŶƉŝĐŶŝĐZĞĐŽƌƌĞƌĞŵŽƐůŽƐƌŝŶĐŽŶĞƐŵĄƐƉŝŶƚŽƌĞƐͲĐŽƐĞŶϰdžϰLJƌĞĂůŝnjĂƌĞŵŽƐƵŶĂƌƵƚĂĚĞƐĞŶĚĞƌŝƐŵŽƉĂƌĂĐŽŶŽĐĞƌĞŶƉƌŽĨƵŶĚŝĚĂĚƚĂŶŚĞƌŵŽƐŽƉĂŝƐĂũĞ^ŝƚƵĂĚŽĞŶĞůĐŽƌĂnjſŶĚĞůWŝƌŝŶĞŽĚĞ>ůĞŝĚĂĞƐƚĄƌĞŐĂĚŽƉŽƌϮϬϬůĂŐƵŶĂƐĚĞĂůƚĂŵŽŶƚĂŹĂĚŽŶĚĞŚĂůůĂŶƌĞĨƵŐŝŽůĂŐĂŵƵnjĂĞůƵƌŽŐĂůůŽůĂŵĂƌŵŽƚĂŽĞůŵşƟĐŽƋƵĞďƌĂŶƚĂŚƵĞͲƐŽƐĞŶĂLJĂůŽũĂŵŝĞŶƚŽĞŶĞůŚŽƚĞů
/ϱWZYhdDd/KsEdhZEdhZZE
ĞƐĂLJƵŶŽWŽƌůĂŵĂŹĂŶĂƌĞĂůŝnjĂƌĞŵŽƐƵŶĐŽŵƉůĞƚŽƉĂƋƵĞƚĞƚĞŵĄƟĐŽĚĞĂǀĞŶƚƵƌĂĞŶůĂƐĐŽƉĂƐĚĞůŽƐĄƌďŽůĞƐĐŽŵƉƵĞƐƚŽĚĞƵŶƚŽƚĂůĚĞϵĐŝƌĐƵŝƚŽƐĐŽŶƟƌŽůŝŶĂƐLJƌŽĐŬſĚƌŽŵŽZĞŐƌĞƐŽĂůŚŽƚĞůƉĂƌĂĞůĂůŵƵĞƌnjŽdĞŶĚƌĞŵŽƐůĂƚĂƌĚĞůŝďƌĞƉĂƌĂƌĞĐƵƉĞƌĂƌŶŽƐLJƉŽĚĞƌĚĂƌƵŶƉĂƐĞŽƚƌĂŶƋƵŝůĂŵĞŶƚĞŽĂĚƋƵŝƌŝƌĂůŐƵŶĂĐŽŵƉƌĂơƉŝĐĂĚĞůĂnjŽŶĂĞŶĂLJĂůŽũĂŵŝĞŶƚŽĞŶĞůŚŽƚĞů
/ϲW/Z/EKd>EW>DD>>KZ
ĞƐĂLJƵŶŽ ůĂŚŽƌĂ ĐŽŶǀĞŶŝĚĂ ƐĂůĚƌĞŵŽƐŚĂĐŝĂĞů ĂĞƌŽƉƵĞƌƚŽĚĞĂƌĐĞůŽŶĂĚŽŶĚĞ ŝŶŝĐŝĂƌĞŵŽƐ ůŽƐ ƚƌĂŵŝƚĞƐĚĞĞŵďĂƌƋƵĞ ĐŽŶĚĞƐƟŶŽĂWĂůŵĂ>ůĞŐĂĚĂLJĮŶĚĞŶƵĞƐƚƌŽƐƐĞƌǀŝĐŝŽƐ
>WZ/K/E>hz -,ŽƚĞůΎΎΎΎΎĞŶWŝƌŝŶĞŽĂƚĂůĄŶ
-ǀŝſŶWĂůŵĂĂƌĐĞůŽŶĂWĂůŵĂƌĞƐŝĚĞŶƚĞďĂůĞĂƌ
- ƵƚŽĐĂƌĐŽŶĂŝƌĞĂĐŽŶĚŝĐŝŽŶĂĚŽLJǀŝĚĞŽ
-ZĠŐŝŵĞŶĚĞW
- ŝƐƚƌŝďƵĐŝſŶĞŶŚĂďŝƚĂĐŝŽŶĞƐŵƷůƟƉůĞƐ
- ^ĞŐƵƌŽĚĞǀŝĂũĞ
- DŽŶŝƚŽƌĞƐƉĂƌĂůĂƌĞĂůŝnjĂĐŝſŶĚĞůĂƐĂĐƟǀŝĚĂĚĞƐ
- sŝƐŝƚĂƐŝŶĚŝĐĂĚĂƐĞŶĞůŝƟŶĞƌĂƌŝŽ
- ĐƟǀŝĚĂĚĞƐĚĞĂǀĞŶƚƵƌĂŝŶĚŝĐĂĚĂƐĞŶĞůŝƟŶĞƌĂƌŝŽ
>WZ/KEK/E>hz
-džƚƌĂƐĞŶŚŽƚĞůĞƐĞŶƚƌĂĚĂƐĂŵƵƐĞŽƐLJŵŽŶƵŵĞŶƚŽƐLJŐƵşĂƐĂĐŽŵƉĂŹĂŶƚĞƐLJŽůŽĐĂůĞƐ
-ƵĂůƋƵŝĞƌƐĞƌǀŝĐŝŽŶŽĚĞƚĂůůĂĚŽĞŶĞůƉƌŽŐƌĂŵĂ
ϲĚşĂƐĞƐĚĞϰϮϬϬϬΦ
/ϬϭW>DD>>KZZ>KE
WƌĞƐĞŶƚĂĐŝſŶĞŶĞůƉƵĞƌƚŽƉĂƌĂƐĂůŝƌĂůĂƐϮϯϬϬŚĐŽŶĚĞƐƟŶŽĂƌĐĞůŽŶĂEŽĐŚĞĂďŽƌĚŽ
/ϬϮZ>KEWKZdsEdhZ
>ůĞŐĂĚĂĂůĂƐϬϳϬϬŚĂĂƌĐĞůŽŶĂĂĐŽŵŽĚĂĐŝſŶĞŶĞůĂƵƚŽĐĂƌ^ĂůŝĚĂŚĂĐŝĂWŽƌƚǀĞŶƚƵƌĂşĂĚĞĚŝĐĂĚŽĂĚŝƐĨƌƵƚĂƌĚĞůĂƐĚŝĨĞƌĞŶƚĞƐĂƚƌĂĐĐŝŽͲŶĞƐƋƵĞŶŽƐŽĨƌĞĐĞĞůWĂƌƋƵĞůŵƵĞƌnjŽWŽƌůĂƚĂƌĚĞĂůĂŚŽƌĂŝŶĚŝĐĂĚĂŶŽƐĚŝƌŝŐŝƌĞŵŽƐĂůŚŽƚĞůĞŶĂLJĂůŽũĂŵŝĞŶƚŽ
/ϬϯEK<z<Es'/KEs>
ĞƐĂLJƵŶŽşĂĐŽŵƉůĞƚŽĂƌĞĂůŝnjĂƌĂĐƟǀŝĚĂĚĞƐƚĂůĞƐĐŽŵŽĂŶŽĂ—<ĂLJĂŬĞŶĞůĚĞůƚĂĚĞůďƌŽůŵƵĞƌnjŽLJƉŽƌůĂƚĂƌĚĞƌĞĂůŝnjĂƌĞŵŽƐĂĐƟǀŝͲĚĂĚĚĞEĂǀĞŐĂĐŝſŶĂsĞůĂĚŽŶĚĞƐƵďŝĚŽƐĞŶ ůĂĞŵďĂƌĐĂĐŝſŶƉŽĚƌĞŵŽƐŵĂŶĞũĂƌ ůĂǀĞůĂĞůƟŵŽŶLJƌĞĂůŝnjĂƌŶƵĚŽƐŵĂƌŝŶĞƌŽƐZĞŐƌĞƐŽĂůŚŽƚĞůĞŶĂLJĂůŽũĂŵŝĞŶƚŽ
/Ϭϰ//>dDh^K
ĞƐĂLJƵŶŽşĂĐŽŵƉůĞƚŽZĞĂůŝnjĂƌĞŵŽƐƵŶĂƌƵƚĂĞŶŝĐŝĐůĞƚĂƉŽƌůĂƐůůĂŐƵŶĂƐĚĞůďƌŽƌĞƐĞƌǀĂEĂƚƵƌĂůĚŽŶĚĞŝƌĞŵŽƐƌĞĂůŝnjĂŶĚŽƉĂƌĂĚĂƐĞŶůŽƐĚŝĨĞƌĞŶƚĞƐŵŝƌĂĚŽƐƋƵĞŶŽƐĞŶĐŽŶƚƌĂƌĞŵŽƐĞŶůŽƐĐƵĂůĞƐŶŽƐĞdžƉůŝĐĂƌĂŶĞůĞĐŽƐŝƐƚĞŵĂĨĂƵŶĂLJŇŽƌĂĚĞů ůƵŐĂƌůŵƵĞƌnjŽŶŶƵĞƐƚƌŽƌĞĐŽƌƌŝĚŽĂĐĂďĂƌĞŵŽƐǀŝƐŝƚĂŶĚŽƵŶŽƐĚĞ ůŽƐDƵƐĞŽƐƋƵĞŶŽƐĞŶĐŽŶƚƌĂƌĞŵŽƐĐŽŵŽĞůDŽŶEĂƚƵƌĂZĞŐƌĞƐĂƌĞŵŽƐĂůŚŽƚĞůĞŶĂLJůŽũĂͲŵŝĞŶƚŽ
/ϬϱDh>d/sEdhZW/Ed>>
ĞƐĂLJƵŶŽWŽƌůĂŵĂŹĂŶĂƌĞĂůŝnjĂƌĞŵŽƐůĂĂĐƟǀŝĚĂĚDƵůƟĂǀĞŶƚƵƌĂƚĂůĐŽŵŽƟƌŽĐŽŶĂƌĐŽƟƌŽůŝŶĂƉƵĞŶƚĞƐƟďĞƚĂŶŽƐůŵƵĞƌnjŽLJƉŽƌůĂƚĂƌĚĞƌĞĂůŝnjĂƌĞŵŽƐWĂŝŶƚďĂůůĐŽŶďŽůĂƐĚĞŐĞůĂƟŶĂLJĂŐƵĂĚĞĐŽůŽƌĞƐZĞŐƌĞƐŽĂůŚŽƚĞůĞŶĂLJĂůŽũĂŵŝĞŶƚŽ
/ϬϲZ>KE
ĞƐĂLJƵŶŽWŽƌ ůĂŵĂŹĂŶĂƐĂůĚƌĞŵŽƐĞŶĚŝƌĞĐĐŝſŶĂ ůĂĐŝƵĚĂĚĐŽŶĚĂůsŝƐŝƚĂƌĞŵŽƐŽƐŵŽĐĂŝdžĂWůĂŶĞƚĂƌŝŽdŝĞŵƉŽ ůŝďƌĞƉĂƌĂƌĞĂůŝnjĂƌ ůĂƐƵůƟŵĂƐĐŽŵƉƌĂƐƉŽƌDĂƌĞŵĄŐŶƵŵůŵƵĞƌnjŽƉŝĐ-ŶŝĐdĂƌĚĞůŝďƌĞĞŶůĂĐŝƵĚĂĚĞŶĂĞŶDĂƌĞŵĂŐŶƵŵůĂŚŽƌĂŝŶĚŝĐĂĚĂƚƌĂƐůĂĚŽƐĂůƉƵĞƌͲƚŽƉĂƌĂĞŵďĂƌĐĂƌĞŶĞůĂƌĐŽĚĞůĂƐϮϯϬϬŚĐŽŶĚĞƐƟŶŽWĂůŵĂĚĞDĂůůŽƌĐĂ
/ϬϳW>DD>>KZ
>ůĞŐĂĚĂĂůĂƐϬϳϬϬŚĂWĂůŵĂĚĞDĂůůŽƌĐĂLJ&ŝŶĚĞŶƵĞƐƚƌŽƐƐĞƌǀŝĐŝŽƐ
>WZ/K/E>hz -WĂůŵĂĂƌĐĞůŽŶĂWĂůŵĂƌĞƐŝĚĞŶƚĞďĂůĞĂƌ
-ƵƚŽĐĂƌƉĂƌĂƚŽĚŽĞůƌĞĐŽƌƌŝĚŽ
-ŝƐƚƌŝďƵĐŝſŶĞŶŚĂďŝƚĂĐŝŽŶĞƐŵƷůƟƉůĞƐ
-ĞŶĂĚŝĂϬϴϬϰDĂƌĞŵĂŐŶƵŵ
- ^ĞŐƵƌŽĚĞǀŝĂũĞ
- DŽŶŝƚŽƌĞƐƉĂƌĂůĂƌĞĂůŝnjĂĐŝſŶĚĞůĂƐĂĐƟǀŝĚĂĚĞƐ
- sŝƐŝƚĂƐŝŶĚŝĐĂĚĂƐĞŶĞůŝƟŶĞƌĂƌŝŽ
- ĐƟǀŝĚĂĚĞƐĚĞĂǀĞŶƚƵƌĂŝŶĚŝĐĂĚĂƐĞŶĞůŝƟŶĞƌĂƌŝŽ
>WZ/KEK/E>hz
-džƚƌĂƐĞŶŚŽƚĞůĞƐĞŶƚƌĂĚĂƐĂŵƵƐĞŽƐLJŵŽŶƵŵĞŶƚŽƐLJŐƵşĂƐĂĐŽŵƉĂŹĂŶƚĞƐLJŽůŽĐĂůĞƐ
-ƵĂůƋƵŝĞƌƐĞƌǀŝĐŝŽŶŽĚĞƚĂůůĂĚŽĞŶĞůƉƌŽŐƌĂŵĂ
ϳĚşĂƐĞƐĚĞ ϰϱϬϬϬ Φ
>WZ/K/E>hz
-ǀŝſŶWĂůŵĂ>ŽŶĚƌĞƐWĂůŵĂ
-ůŽũĂŵŝĞŶƚŽĞŶŚĂďŝƚĂĐŝŽŶĞƐŵƷůƟƉůĞƐ
-ZĠŐŝŵĞŶůŽũĂŵŝĞŶƚŽLJĚĞƐĂLJƵŶŽ
-DĂůĞƚĂĚĞŵĂŶŽϭϬŬŐ
-^ĞŐƵƌŽĚĞǀŝĂũĞ
>WZ/KEK/E>hz -džƚƌĂƐĞŶŚŽƚĞůĞƐĞŶƚƌĂĚĂƐĂŵƵƐĞŽƐLJŵŽŶƵŵĞŶƚŽƐLJŐƵşĂƐĂĐŽŵƉĂŹĂŶƚĞƐLJŽůŽĐĂůĞƐ
-ƵĂůƋƵŝĞƌƐĞƌǀŝĐŝŽŶŽĚĞƚĂůůĂĚŽĞŶĞůƉƌŽŐƌĂŵĂ
ϱĚşĂƐĞƐĚĞ ϯϵϱϬϬ Φ
1ϭW>DD>>KZ>KEZ^
WƌĞƐĞŶƚĂĐŝſŶĞŶĞůĂĞƌŽƉƵĞƌƚŽƉĂƌĂĞŵďĂƌĐĂƌĞŶĞůǀƵĞůŽĐŽŶĚĞƐƟŶŽĂ>ŽŶĚƌĞƐ>ůĞŐĂĚĂƌĞƉĂƌƟĐŝſŶĚĞŚĂďŝƚĂĐŝŽŶĞƐůŽũĂŵŝĞŶƚŽ
1^Ϯϯϰ>KEZ^
^zhEKşĂƐůŝďƌĞƐĂĚŝƐƉŽƐŝĐŝſŶĚĞůŽƐĐůŝĞŶƚĞƐƉĂƌĂǀŝƐŝƚĂƌůĂĐŝƵĚĂĚůŽũĂŵŝĞŶƚŽ
1ϱ>KEZ^W>DD>>KZ
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