$+&& (DUQLQJ 3RZHU ( (7
3(5&(17$*( +202 %/. 7 +202 3/' 7
$+&& ( 1;0 %: $'- :: $'- <: 6FURWDO )UDPH /+ :$5 +(52 : &(' '2&
0$*6 $1&+25 %:
&:
0*6 ;,3+23$*286 ::
5,%
/9/6 )$50(5 -2+1 3 <:
<*
0$
,0)
/9/6 8 6& 07, /9/6 5
(DUQLQJ 3RZHU VKRZV WKDW \RX FDQ KDYH KLJK QXPEHUHG KLJK SHUFHQWDJH /LPRXVLQ WKDW LQFRUSRUDWH DGYDQFHG PDUEOLQJ VWURQJ JURZWK DQG RXWVWDQGLQJ SKHQRW\SH 7KH ILUVW FDOYHV ,I \RX DUH ORRNLQJ IRU D EXOO WKDW ZLOO ZRUN RQ \RXU SXUHEUHG FRZV DQG DGG QHHGHG FDUFDVV RU D KLJK SHUFHQWDJH EXOO WR DGG /LPRXVLQ SRZHU WR ORZHU /LP)OH[ FRZV DGG VRPH (DUQLQJ 3RZHU
2ZQHG E\ 0DJQHVV %XII %HHI +DJHU
$+&& (DV\ 5LGHU (
/,0 )/(; +202 %/. 7 +202 3/' 7
$+&& ( /)0 %: $'- :: $'- <: 6FURWDO )UDPH 70&. $/)$/)$ ; &(' '2&
(/0: $/)$/)$ % %:
&:
(/0: :$,7 $ %,7 : ::
5,%
0$*6 < $;,6 <:
<*
0$
,0)
$+&& 0,66 < $;,6 & (7 6& 07, $+&& '$.27$ /89/< 5 $+&& (DV\ 5LGHU LV WKH QH[W JUHDW EDODQFHG FDOYLQJ HDVH EXOO DV WKLV JUDQGVRQ RI $OIDOID DQG < $[LV FRPELQHV JUHDW VKRXOGHU VWUXFWXUH VPDOO KHDG DQG D FDOYLQJ HDVH (3' SURILOH ZLWK WUHPHQGRXV SHUIRUPDQFH DQG D PDUEOLQJ UDWLR 6WUDLJKW OLQHG VRIW DQG YHU\ VRXQG (DV\ 5LGHU VKRXOG VLUH WKH NLQG RI IHPDOHV \RX NHHS DQG WKH W\SH RI EXOOV WKDW DUH HDV\ WR VHOO ,I \RX ZDQW D VRIW ULGH WU\ (DV\ 5LGHU
2ZQHG E\ -RQHV %URWKHUV +DJHU
$+&& +HDUWODQG ) (7
3(5&(17$*( +202 %/. 3 +202 3/' 3
$+&& ) 1;0 %: $'- :: $'- <: 6FURWDO )UDPH /+ :$5 +(52 : &(' '2&
0$*6 $1&+25 %:
&:
0*6 ;,3+23$*286 ::
5,%
/9/6 )$50(5 -2+1 3 <:
<*
0$
,0)
/9/6 8 6& 07, /9/6 5 +HDUWODQG ZDV WKH WRS VHOOHU LQ WKH +DJHU 6DOH DQG WKLV WUHPHQGRXV VRQ RI $QFKRU EULQJV D GLIIHUHQW WZLVW WR WKH WDEOH $V D EXOO KH ILWV ULJKW LQWR HLWKHU \RXU /LPIOH[ RU 3XUHEUHG RSHUDWLRQ 2XWVWDQGLQJ JURZWK DQG D JUHDW SKHQRW\SH DQG KLV GDP LV WKH RXWVWDQGLQJ 8 IHPDOH RI +DJHUV ,I \RX DUH ORRNLQJ IRU SUHGLFWDEOH SHUIRUPDQFH DQG D VWURQJ SKHQRW\SH PDNH \RXU PRYH WR WKH +HDUWODQG
2ZQHG E\ 9RUWKPDQQ +XQWV +DJHU
$+&& +HPL ( (7
$+&& +HPL ZDV WKH WRS VHOOHU DW +DJHU V DQG WKLV WUHPHQGRXV VRQ RI 6$9 5HVRXUFH DGGV WKH 8 FRZ LQWR D WRWDO RXWFURVV SDFNDJH ORDGHG ZLWK SRWHQWLDO $ WUXH EHHI PDFKLQH +HPL WRXWV D WKLFN PDGH VRXQG VRIW SDFNDJH ORDGHG ZLWK JURZWK DQG FRPSOLPHQWHG ZLWK PDUEOLQJ ,I \RX ZDQW WR SRZHU XS \RXU SHGLJUHH SDFNDJH ZLWK D UHDOO\ VWRXW RQH LWV WLPH WR JHW D +(0,
ZZZ *UDVVURRWV*HQHWLFV FRP
/,0 )/(; +202 %/. 7 +202 3/' 7
$+&& ( /)0 %: $'- :: $'- <: 6FURWDO )UDPH 5,72 2) ,'($/ &(' '2&
6 $ 9 5(6285&( %:
&:
6 $ 9 %/$&.&$3 0$< ::
5,%
<:
<*
/9/6 )$50(5 -2+1 3 0$
,0)
/9/6 8 6&
07, /9/6 5
2ZQHG E\ *UDYHQ 0DJQHVV :XOI 7XEPLOO &UHHN
7ROO )UHH
$872 %ODFN &RIIHH
385(%5(' +202 %/. 7 +(7 3/' 7
$872 $ 130 %: $'- :: $'- <: 6FURWDO )UDPH '+92 '(8&( 5 &(' '2&
0$*6 ;</232/,67 %:
&:
0$*6 675$:%(55< ::
5,%
$872 %/$48( /$%(/ 6 <:
<*
0$
,0)
$872 &2))( &$.( : 6& 07, $872 5$021$ 7
%ODFN &RIIHH EULQJV D IUHVK VHW RI QXPEHUV DQG D VWURQJ SKHQRW\SH WR WKH PRUQLQJ WDEOH DV WKLV \RXQJ VLUH KDV WKH VRXQGQHVV DQG VWUXFWXUH WR VLUH FDWWOH ZLWK IOH[ DQG EDODQFH 9HU\ ORQJ QHFNHG DQG GHHS IODQNHG %ODFN &RIIHH KDV WKH SURILOH DQG SDWWHUQ WKDW FRPSOHPHQWV KLV QXPEHUV DQG VWURQJ SHGLJUHH ,I \RX ZDQW WR ZDNH XS \RXU SURJUDP KDYH D %ODFN &RIIHH
2ZQHG E\ %HJHUW .HHWRQ
$872 'HHS :DWHU &
385(%5(' +202 %/. 7 +202 3/' 7
$872 & 130 %: $'- :: $'- <: 6FURWDO )UDPH 0$*6 7+( *(1(5$/ &(' '2&
$872 &58=( ; %:
&:
$872 5(%(&$ 6 ::
5,%
*3)) %/$48( 58/21 <:
<*
0$
,0)
.591 635,7=(5 6 6& 07, :8/)6 /(021$'( /
$872 'HHS :DWHU LV D WUHPHQGRXV &UX]H VRQ WKDW KDV DOO RI WKH WRROV WR WDNH RYHU IRU KLV IDPRXV VLUH +202 3 +202 % 'HHS :DWHU LV ORDGHG ZLWK VW\OH DQG EDODQFH VRJJ\ PDGH DQG VWRXW 2XW RI D JUHDW 5XORQ GDXJKWHU 'HHS :DWHU VKRXOG VLUH FDWWOH WKDW QRW RQO\ JURZ DQG SHUIRUP EXW ORRN JRRG GRLQJ LW ,I \RX QHHG D ZDNH XS MXPS LQWR 'HHS :DWHU
2ZQHG E\ 3LQQHOO V /LPRXVLQ
$872 /XFN\ 6WULNH %
/,0 )/(; +(7 %/. 7 +(7 3/' 7
$872 % /)0 %: $'- :: $'- <: 6FURWDO )UDPH %$6,1 )5$1&+,6( 3 &(' '2&
/+ 8 +$8/ 8 %:
&:
(;/5 '8&+(66 5 ::
5,%
:/5 ',5(&7 +,7 <:
<*
0$
,0)
$872 /8&.,( : 6& 07, 7<(- '% 6(5(1,7<
$XWR /XFN\ 6WULNH LQ QRZ RQ WKH PDUNHW DQG WKLV WUHPHQGRXV VRQ RI 8+DXO QRW RQO\ RIIHUV D WUHPHQGRXV SKHQRW\SH $$/) )XWXULW\ &KDPSLRQ EXW D VROLG SHUIRUPDQFH SHGLJUHH DQG RXWVWDQGLQJ JURZWK ,I \RX DUH ORRNLQJ IRU D KHDY\ ERQHG FRUUHFW JURZWK EXOO IRU ORZHU SHUFHQWDJH FRZV LWV WLPH WR OLJKW XS D /XFN\ 6WLNH 2ZQHG E\ 3 %DU 6
$XWR 5HDO 'HDO %
5HDO 'HDO LV WKH SXUHEUHG ZH YH EHHQ ZDLWLQJ IRU 6LUHG E\ $872 &UX]H DQG RXW RI WKH JUHDW /XFNLH 7RR IHPDOH WKLV +202 3ROOHG +202 %ODFN EXOO KDV WKH SHUIRUPDQFH DQG WKH WUHPHQGRXV SKHQRW\SH WR VLUH FDWWOH ZLWK ORRN DQG JURZWK *UHDW RQ WKH PRYH DQG SHUIHFW LQ KLV SURILOH WKLV \RXQJ VRQ RI &UX]H LV WKH 5HDO 'HDO
ZZZ *UDVVURRWV*HQHWLFV FRP
385(%5(' +202 %/. 3 +202 3/' 7
$872 % 130 %: $'- :: $'- <: 6FURWDO )UDPH 0$*6 7+( *(1(5$/ &(' '2&
$872 &58=( ; %:
&:
$872 5(%(&$ 6 ::
5,%
:/5 ',5(&7 +,7 <:
<*
0$
,0)
$872 /8&.,( 722 < 6& 07, 7<(- '% 6(5(1,7<
2ZQHG E\ %HJHUW /LPRXVLQ
7ROO )UHH
&(//
/,0 )/(; +202 %/. 7 +202 3/' 7
&(// ' /)0 %: $'- :: $'- <: 6FURWDO )UDPH &211($/< &216(1686 &(' '2&
0$*6 $/, %:
&:
0$*6 <2.2 ::
5,%
&211($/< &216(1686 <:
<*
0$
,0)
+%5/ $0(5,&$1 3,( $ 6& 07, $872 (;&(37,21$/ 6 ZDV RQH RI WKH WRS EXOOV RXW RI /LQKDUWV VDOH DQG OXFNLO\ KH FROOHFWHG ZHOO EHFDXVH KH LV QRZ GHFHDVHG EXW VWLOO OHDYLQJ KLV LQIOXHQFH $ GRXEOH EUHG &RQQHDO\ &RQVHQVXV ZDV UHDOO\ WKLFN PDGH DQG VWRXW LQ KLV PXVFOH VWUXFWXUH DQG SHUIRUPDQFH /RRN RYHU WKH JURZWK QXPEHUV DQG WKLQN DERXW D GRXEOH EUHG SDFNDJH DQG FOHDU \RXU YLVLRQ WKLQN DERXW DGGLQJ LQ D OLWWOH
2ZQHG E\ -RQHV %URWKHUV /LQKDUW
&(// (QYLVLRQ (
385(%5(' +202 %/. 7 +202 3/' 3
&(// ( 130 %: $'- :: $'- <: 6FURWDO )UDPH $+&& :(67:,1' : &(' '2&
$+&& %$51 %851(5 % %:
&:
/9/6 8 ::
5,%
7: ),5( 1 ,&( <:
<*
0$
,0)
3%56 =6$ =6$ = 6& 07, 3%56 8// 8 (QYLVLRQ LV WKH 385(%5(' EHHI EXOO WKH LQGXVWU\ KDV EHHQ VHDUFKLQJ IRU +RPR %ODFN +RPR 3ROOHG (QYLVLRQ KDV WKH SHGLJUHH WKDW ZLOO ZRUN DQ\ZKHUH 6LUHG E\ %DUQ %XUQHU KLV WUHPHQGRXV SHUIRUPDQFH ILJXUHV DQG JUHDW (3' V FRPELQH ZLWK LQFK 5($ DQG D 0DUEOLQJ 5DWLR &P 6FURWDO URXQGV RXW D FRPSOHWH FRZER\ SDFNDJH 6WXG\ WKH EXOO GLJHVW WKH QXPEHUV DQG (QYLVLRQ KRZ KH FDQ LQIOXHQFH \RXU SURJUDP
2ZQHG E\ 9RUWKPDQQ /LQKDUW
&(// )UHHGRP ) (7
/,0 )/(; +202 %/. 7 +202 3/' 3
&(// ) /)0 %: $'- :: $'- <: 6FURWDO )UDPH &211($/< &216(1686 &(' '2&
0$*6 $/, %:
&:
0$*6 <2.2 ::
5,%
6,/9(,5$6 67</( <:
<*
0$
,0)
//-% $%62/87( 67</( 6&
07, 0$*6 :$66$,/ )UHHGRP FRPELQHV VRPH RI WKH EUHHGV EHVW JHQHWLFV IRU SKHQRW\SH DV WKLV VRQ RI EUHHG FKDPSLRQ $EVROXWH 6W\OH LV VLUHG E\ 0$*6 $OL PDNLQJ KLP D IOXVKPDWH WR VRPH RI WKH WRS VKRZ KHLIHUV WKH EUHHG KDV HYHU VHHQ 9HU\ FRUUHFW VW\OLVK DQG ORDGHG ZLWK IXQFWLRQ )UHHGRP VKRXOG ZRUN JUHDW RQ $YLDWRU 'HXFH DQG &URZQ 5R\DO GDXJKWHUV ,I \RX ZDQW WR SURGXFH WKH QH[W OHYHO RI VKRZ IHPDOHV FRQVLGHU )UHHGRP
2ZQHG E\ - - 5HG 5RFN %DNHU /LQKDUW
&(// /LWWOH &DVLQR ) (7
/,0 )/(; +202 %/. 3 +202 3/' 3
&(// ) /)0 %: $'- :: $'- <: 6FURWDO )UDPH 6,7= '$6+ &(' '2&
%$5672: &$6+ %:
&:
%$5672: 48((1 : ::
5,%
'+92 '(8&( 5 <:
<*
0$
,0)
0$*6 :,7+ &/$66 6& 07, 0$*6 3+<//2
&(// /LWWOH &DVLQR EULQJV D FRPSOHWHO\ QHZ SHGLJUHH WR WKH /LP)OH[ WDEOH 6LUHG E\ $QJXV JLDQW %DUVWRZ &DVK /LWWOH &DVLQR KDV WKH WUHPHQGRXV VW\OH DQG EDODQFH RI %DUVWRZ &DVK DQG WKH FRPSOHWH SDFNDJH RI KLV 'DP WKH JUHDW 0DJV :LWK &ODVV ,I \RX ZDQW D PDUEOLQJ KLW LQ D JUHDW SDFNDJH VLW GRZQ DW WKH WDEOH ZLWK /LWWOH &DVLQR
ZZZ *UDVVURRWV*HQHWLFV FRP
2ZQHG E\ 0RRUH )DPLO\ )DUP
7ROO )UHH
&+5 (LJKW %DOO ( (7
/,0 )/(; +202 %/. 7 +202 3/' 3
.4 ( /)0 %: $'- :: $'- <: 6FURWDO )UDPH +$ 2876,'( &(' '2&
+$ &2:%2< 83 %:
&:
+$ %/$&.&$3 /$'< ::
5,%
'+92 '(8&( 5 <:
<*
0$
,0)
3%56 728&+ 0( *(17/< 6&
07, &$55286(/6 3,1$ &2/$'$ (LJKW %DOO ZDV WKH WRS VHOOHU DW &R\RWH +LOOV DQG WKLV WUHPHQGRXV VRQ RQ $QJXV VLUH +$ &RZER\ 8S KDV DOO WKH WRROV *UHDW SHUIRUPDQFH WUHPHQGRXV VSUHDG IURP %: WR <: DQG RXWVWDQGLQJ SKHQRW\SH %LJ IRRWHG DQG VRXQG FKHFN RXW WKH KLS DQG IODQN LQ WKLV \RXQJ VLUH 3RZHU SDFNHG DQG ORDGHG ZLWK FRQYHQLHQFH WUDLWV LWV WLPH WR UDFN WKHP XS &RQVLGHU (LJKW %DOO
2ZQHG E\ &R\RWH +LOOV
&-6/ &UHHG &
/,0 )/(; +202 %/. 3 +202 3/' 7
&-6/ & /)0 %: $'- :: $'- <: 6FURWDO )UDPH 0$*6 :,16721 &(' '2&
0$*6 $9,$725 %:
&:
0$*6 ;75$ 5(67 ::
5,%
0$*6 ;8.$/$1, <:
<*
0$
,0)
&-6/ = 6& 07, 0$*6 ;8/(0$
&UHHG LV WKH KLJK SHUIRUPDQFH GHHS ERGLHG VRQ RI 0$*6 $YLDWRU WKDW FDPH RXW RI /LQKDUW V VDOH DV WKH WRS VHOOHU DQG KH JLYHV \RX WKH QH[W VWHS LQ KLJK SHUIRUPDQFH /LPIOH[ WKDW KDYH JURZWK EDODQFH DQG PDWHUQDO ZLWK D VROLG PDUEOLQJ SDFNDJH &UHHG FRPELQHV H[FHSWLRQDO GHSWK RI ERG\ ZLWK IODZOHVV VWUXFWXUH WR JLYH \RX WKH QH[W RSWLRQ LQ EDODQFHG SHUIRUPDQFH JHQHWLFV
2ZQHG E\ 7XEPLOO &UHHN
&-6/ 'DWD %DQN '
3(5&(17$*( +202 %/. 3 +202 3/' 3
&-6/ ' 1;0 %: $'- :: $'- <: 6FURWDO )UDPH /+ :$5 +(52 : &(' '2&
0$*6 $1&+25 %:
&:
0*6 ;,3+23$*286 ::
5,%
-&/ /2'(67$5 / <:
<*
0$
,0)
$872 &$50,1'$ 6 6& 07, $872 &$50,1'$ 3 'DWD %DQN ZDV WKH WRS VHOOLQJ EXOO DW /LQKDUWV DQG WKLV RXW FURVV EXOO RIIHUV D ORW RI RSWLRQV $V D EXOO KH FDQ ZRUN LQ ERWK \RXU SXUHEUHG DQG /LPIOH[ SURJUDPV 6LUHG E\ $QFKRU DQG RXW RI WKH JUHDW &DUPLQGD GDP RI <LS DQG =DUDK KH KDV WKH SHUIRUPDQFH SHGLJUHH DQG ORRN WR EH D JUHDW RQH 7KLFNPDGH GHHS ERGLHG DQG KHDY\ ERQHG VWXG\ \RXU QHHGV DQG JR WR WKH 'DWD %DQN
2ZQHG E\ :LHF]RUHN /LQKDUW 'DWDEDQN 6\QGLFDWH
&-6/ 'DXQWOHVV ' (7
/,0 )/(; +202 %/. 7 +202 3/' 3
&-6/ ' /)0 %: $'- :: $'- <: 6FURWDO )UDPH 0$*6 :,16721 &(' '2&
0$*6 =2',$& %:
&:
0$*6 ;$17+286 ::
5,%
6,/9(,5$6 67</( <:
<*
0$
,0)
//-% $%62/87( 67</( 6& 07, 0$*6 :$66$,/
'DXQWOHVV FRPELQHV WZR RI WKH EHVW LQGLYLGXDOV LQ WKH EUHHG DQG WKLV VRQ RI WKH JUHDW $EVROXWH 6W\OH DQG =RGLDF KDV WKH SHUIRUPDQFH EDODQFH DQG VW\OH WKDW WKH\ SRVVHVVHG &RUUHFW RQ HYHU\ FRUQHU GHHS ERGLHG DQG VRXQG IRRWHG 'DXQWOHVV KDV WKH JURZWK DQG SHUIRUPDQFH WR JR ZLWK KLV IODZOHVV VWUXFWXUH 2ZQHG E\ 7KRPDV DQG 6RQV /LQKDUW
ZZZ *UDVVURRWV*HQHWLFV FRP
7ROO )UHH
&2/( &DGLOODF &
385(%5(' %/. +202 3/' 7
&2/( & 130 %: $'- :: $'- <: 6FURWDO )UDPH :8/)6 5$1620 5 &(' '2&
5201 78)) (18)) 7 %:
&:
5201 52%(57$ 5 ::
5,%
05/ ; 5$7(' ; <:
<*
0$
,0)
&2/( 0,66 ;5$7(' $ 6&
07, &2/( 0,66 352'8&7,21 &DGLOODF LV D JUHDW RSWLRQ IRU KHLIHUV DQG D VROLG FKRLFH IRU DQ\ SURJUDP +202 SROOHG ZLWK D JUHDW SURILOH &DGLOODF KDV WKH IODQN DQG ERG\ QHHGHG E\ FRPPHUFLDO PHQ HYHU\ZKHUH DQG WKH EDODQFHG HSG SURILOH WKDW VKRXOG VLUH SURGXFWLRQ FDWWOH WKDW FRPH HDV\ DQG JURZ IDVW ,I \RX DUH ORRNLQJ WR VKRZ XS ZLWK FODVV DQG SUHVWLJH FRQVLGHU D &DGLOODF
2ZQHG E\ +7 %LHV &DWWOH &R
&2/( 'HSXW\ '
/,0 )/(; +202 %/. 3 +202 3/' 3
&2/( ' /)0 %: $'- :: $'- <: 6FURWDO )UDPH 0$*6 :,16721 &('
'2&
0$*6 =2',$& %:
&:
0$*6 ;$17+286 ::
5,%
&2/(0$1 352'8&7,21 <:
<*
0$
,0)
&2/( 0,66 352'8&7,21 6& 07, &2/( 3 &2/( 'HSXW\ FDUULHV WKH JURZWK DQG SHUIRUPDQFH WKDW =RGLDF SDVVHV GRZQ DQG WKHQ DGGV WKH PDWHUQDO IURP &2/( 3URGXFWLRQ WR WKH PL[ 9HU\ ORQJ ERGLHG DQG WKLFN PDGH 'HSXW\ FRPELQHV FRPSOHWH SHUIRUPDQFH DQG VRXQG VWUXFWXUH $ WRS VHOOHU DW &ROHPDQ V ZH VHH D VWURQJ IXWXUH IRU WKH SHUIRUPDQFH JLDQW ,I \RX ZDQW WR VWUDLJKWHQ RXW WKH JURZWK LQ \RXU SURJUDP FDOO RQ 7KH 'HSXW\
2ZQHG E\ %UHKP &ROHPDQ
&2/( ([SORUHU (
385(%5(' +(7 %/. 7 +202 3/' 3
&2/( ( 130 %: $'- :: $'- <: 6FURWDO )UDPH 05/ ; 5$7(' ; &(' '2&
&2/( $5&+,7(&7 $ %:
&:
&2/( 0,66 /2'(67$5 8 ::
5,%
&2/( :,1')$// : <:
<*
0$
,0)
&2/( 0,66 :,1')$// < 6& 07, &2/( 0 ([SORUHU LV WKH QH[W SHUIRUPDQFH 3XUHEUHG EXOO LQ OLQH ZLWK D JUHDW VSUHDG DQG WUHPHQGRXV SHUIRUPDQFH SDFNDJH OE %: DQG <: FRPELQHV ZLWK D RXWVWDQGLQJ SKHQRW\SH DQG VROLG EUHHG FKDUDFWHU /RQJ ERGLHG DQG WKLFN LW HDV\ WR VHH WKH JURZWK SRZHU SDFNDJH LQ WKLV \RXQJ KHUGVLUH ,I \RX ZDQW WR PDNH WKHP JURZ DQG SHUIRUP JR ([SORULQJ
2ZQHG E\ &ROHPDQ %HXV 0LQRU &LUFOH 5 (ONKRUQ 7ULSOH
&2/( )RUWXQH )
&2/( )RUWXQH ZDV D IDYRULWH DW &ROHPDQ V KLV ZKROH OLIH DQG RQ VDOH GD\ KH EHFDPH WKH WRS VHOOHU )RUWXQH FRPELQHV H[WUHPH FDOYLQJ HDVH ZLWK ZLWK D PDWHUQDO SHGLJUHH DQG SXWV D OE ELUWKZHLJKW WR PDWFK D \HDUOLQJ ZHLJKW +202 3ROOHG )RUWXQH JLYHV \RX FRQYHQLHQFH WUDLWV DQG SHUIRUPDQFH LQ D KLJK SHUFHQWDJH SDFNDJH 6HPHQ $YDLODEOH 12: 7KLV LV D EXOO WKDW ZLOO ZRUN LQ DQ\ SURJUDP FRQVLGHU KLP DQG PDNH \RXU )RUWXQH
ZZZ *UDVVURRWV*HQHWLFV FRP
3(5&(17$*( +(7 %/. 7 +202 3/' 7
&2/( ) 1;0 %: $'- :: $'- <: 6FURWDO )UDPH 5201 78)) (18)) 7 &(' '2&
&2/( &$',//$& & %:
&:
&2/( 0,66 ;5$7(' $ ::
5,%
$+&& ;3(16( $&&2817 <:
<*
0$
,0)
&2/( 0,66 $867,1 $ 6& 07, &2/( 0,66 75$9(/(5 ;
2ZQHG E\ )XFKV /LPRXVLQ &ROHPDQ /LPRXVLQ
7ROO )UHH
&:&/ /XGHQV )LUVW 'DNRWD )
/,0 )/(; %/. +202 3/' 7
&:&/ ) /)0 %: $'- :: $'- <: 6FURWDO )UDPH :8/) 6 =,3/2&. 1 = &(' '2&
/)/& %$1. $&&2817 % %:
&:
/)/& ; ;75$ *22' ::
5,%
6,/9(,5$6 67</( <:
<*
0$
,0)
&:&/ *$1*1$0 67</( $ 6& 07, &:&/ ;(1$ ;
)LUVW 'DNRWD ZDV QDPHG 6XSUHPH EXOO RI DOO %UHHGV DW WKH %ODFN +LOOV 6WRFN VKRZ DQG UHSUHVHQWV WKH QH[W JHQHUDWLRQ RI /LP)OH[ WKH VWURQJ EXOOV WKDW ZLOO ZRUN RQ \RXU SXUHEUHGV DQG \RXU /LP)OH[ RSHUDWLRQ 6LUHG E\ /)/& %DQN $FFRXQW WKLV \RXQJ VLUH KDV WKH ERQH DQG ERG\ FRPPHUFLDO PHQ FUDYH DQG WKH WKLFNQHVV WKDW /LPRXVLQ EXOOV QHHG ,I \RX DUH ORRNLQJ IRU D FDOYLQJ HDVH EXOO ZLWK IODQN WKDW ZLOO ZRUN LQ DOO SKDVHV RI \RXU RSHUDWLRQ FRQVLGHU )LUVW 'DNRWD
2ZQHG E\ 6RXWK )RUN /XGHQV /LPRXVLQ
'$1+ 'XUKDP '
/,0 )/(; +202 %/. 7 +202 3/' 7
'$1+ ' /)0 %: $'- :: $'- <: 6FURWDO )UDPH $ $ 5 *$0( '$< &(' '2&
+817 %,//< 5$< % %:
&:
+817 0,66 :8/)+817 8 ::
5,%
6 $ 9 %,60$5&. <:
<*
0$
,0)
'$1+ $/72 $ 6& 07, '$1+ <28 %(7 <
'XUKDP SURYLGHV WKH EDODQFH RI %: DQG <: LQWR D KHLIHU IULHQGO\ SDFNDJH 7KLV +202 %ODFN +202 3ROOHG /LPIOH[ EXOO LV DQ RXWFURVV WR PRVW /LPRXVLQ DQG /LPIOH[ SHGLJUHHV +LV VWURQJ GRFLOLW\ DQG WUHPHQGRXV VWUXFWXUH JLYHV KLP D VWHS XS RQ DQ\ SURJUDP &KHFN RXW WKH VSUHDG DQG ORRN DW WKH EXOO KH V RQH \RX VKRXOG DGG WR \RXU OLQHXS
2ZQHG E\ +XQW 3HWHUVRQ /LPRXVLQ
'6'& .&6 'DOODV ' (7
3(5&(17$*( +202 %/. 3 +202 3/' 3
'6'& ' 1;0 %: $'- :: $'- <: 6FURWDO )UDPH 0$*6 :,16721 &(' '2&
0$*6 < 62 7$1*/(' %:
&:
0$*6 817$1*/( ::
5,%
0$*6 6$9$*( <:
<*
0$
,0)
0$*6 :$//3$3(5 6& 07, 0$*6 *5(7&+(1
'DOODV FRPELQHV VHYHUDO RI WKH VWURQJHVW LQGLYLGXDOV WR HYHU PDNH WKH WDQEDUN LQWR D SHUIRUPDQFH SDFNDJH WKDW KDV VW\OH DQG EDODQFH WKLFNQHVV DQG VWRXWQHVV DQG D EDODQFHG VHW RI QXPEHUV 6WURQJ WRSSHG DQG H[SUHVVLYHO\ PXVFOHG WKLV \RXQJ VLUH LV ERXQG WR DGG PXVFOH DQG VWUXFWXUH ,I \RX ZDQW D EXOO WKDW FDQ ZRUN IRU SXUHEUHGV DQG /LPIOH[ KHDG RQ GRZQ WR '$//$6
2ZQHG E\ 7 - 0LGGOHEURRN )DUPV
(/&; %XOOHW 3URRI % (7
/,0 )/(; +202 %/. 7 +202 3/' 3
(/&; % /)0 %: $'- :: $'- <: 6FURWDO )UDPH 7& $%(5'((1 &(' '2&
(%)/ <36,/$17, < %:
&:
0$*6 5$0$'$ ::
5,%
6 $ 9 %,60$5&. <:
<*
0$
,0)
$872 32(0 < 6& 07, 0$*6 3+$17206 35,=(
%XOOHW 3URRI ZDV WKH )XWXULW\ &KDPSLRQ DQG WKLV \RXQJ VLUH RXW RI <SVLODQWL < LV QRZ RQ WKH PDUNHW DQG UHDG\ WR JR WR ZRUN +202 %ODFN DQG +202 3ROOHG KH KDV WKH EDODQFHG (3' SDFNDJH WR PDWFK KLV IODZOHVV SKHQRW\SH 6LUHG E\ <SVLODQWL KH EULQJV D GLIIHUHQW WZLVW WR WKH EXVLQHVV DQG VKRXOG VLUH KHLIHUV WKDW JURZ DQG SHUIRUP
ZZZ *UDVVURRWV*HQHWLFV FRP
2ZQHG E\ (GZDUGV 2ZHQ &DWWOH
7ROO )UHH
),// (OHYDWH (
3(5&(17$*( +(7 %/. 7 +202 3/' 7
),// ( 1;0 %: $'- :: $'- <: 6FURWDO )UDPH 581/ 67(7621 6 &(' '2&
:8/)6 %,//< 7+( .,' . % %:
&:
:8/)6 81,48( 8 ::
5,%
:8/)6 683(5&+$5*( . 6 <:
<*
0$
,0)
0,66 ),//025( = 6& 07, 0,66 ),//025( 5
(OHYDWH EULQJV D ORW WR WKH WDEOH LQ WHUPV RI FRQYHQLHQFH WUDLWV ZLWK D +202 3ROOHG SDFNDJH JUHDW 'RFLOLW\ DQG DQ RXWVWDQGLQJ ELUWK WR \HDUOLQJ VSUHDG 6LUHG E\ %LOO\ 7KH .LG KH DOVR EULQJV D GLIIHUHQW SHGLJUHH WR SHUIRUPDQFH FDWWOH 7KLFN PDGH DQG VWRXW KH VKRXOG VLUH WKH NLQG WKDW FRPPHUFLDO EXOO FXVWRPHUV GHVLUH $W KH ZLOO ZRUN RQ HLWKHU \RXU /LP)OH[ RU 3XUHEUHG IHPDOHV DQG KDV WKH SHGLJUHH DQG SHUFHQWDJH YHUVDWLOLW\ WKDW LV QHHGHG WRGD\
2ZQHG E\ %R\HU V 0RUPDQ 7UDLO )LOOPRUH 5DQFK
):/< &DQ 'R
/,0 )/(; +202 %/. 7 +(7 3/' 7
):/< ( /)0 %: $'- :: $'- <: 6FURWDO )UDPH () ;&(66,9( )25&( &('
'2&
5/%+ $,5 )25&( 21( %:
&:
() <$))$ < ::
5,%
:/5 ',5(&7 +,7 <:
<*
0$
,0)
&/// &5<67$/ : 6&
07, $872 &+5,67< 5 &DQ 'R KDV GRPLQDWHG WKH VKRZ URDG WKLV IDOO DQG WKLV WUHPHQGRXV VRQ RI $LU )RUFH 2QH ZDV ODXGHG IRU KLV JUHDW VWUXFWXUH ERQH DQG IRRW VL]H &DQ 'R ZLOO EH WKH $LU )RUFH 2QH VRQ WKDW DGYDQFHV WKH VW\OH DQG VWUXFWXUH GHVLUHG E\ EUHHGHUV HYHU\ZKHUH ,I \RX DUH QHHGLQJ D EXOO WKDW ZLOO PDNH VKRZ KHLIHUV DQG UHSODFHPHQW IHPDOHV &DQ 'R LV \RXU PDQ )ODQN ERQH IRRW VL]H DOO LQ RQH SDFNDJH
2ZQHG E\ /RJDQ +LOOV )DZOH\ )DUPV
*9 6WHWVRQ $
385(%5(' +202 %/. 7 +202 3/' 7
9,5* $ 130 %: $'- :: $'- <: 6FURWDO )UDPH -&/ /2'(67$5 / &(' '2&
581/ 67(7621 6 %:
&:
581/ / ::
5,%
$872 '2//$5 *(1(5$/ 5 <:
<*
0$
,0)
*9 06 *(1(5$/ < 6& 07, *9 06 -867,&( :
*9 6WHWVRQ KDV RQH RI WKH PRVW EDODQFHG (3' SURILOH V LQ WKH EXVLQHVV DQG WKLV SURYHQ VRQ RI 6WHWVRQ FRPELQHV SHUIRUPDQFH WUDLWV /LPRXVLQ EUHHG FKDUDFWHU DQG FRQYHQLHQFH WUDLWV LQ D WKLFN PDGH SDFNDJH WKDW KDV PXVFOH FDOYLQJ HDVH DQG PDWHUQDO YDOXHV +202% +2023 DQG +202) / ,I \RX DUH ORRNLQJ IRU D SXUHEUHG EXOO WKDW PDNHV QR PLVWDNHV DQG KDV WKH WKLFNQHVV DQG EUHHG FKDUDFWHU WKDW FRPPHUFLDO PHQ GHVLUH *9 6WHWVRQ $ LV \RXU PDQ
2ZQHG E\ . /LPRXVLQ
+%5/ 'DUN .QLJKW ' (7
/,0 )/(; +202 %/. 7 +202 3/' 3
+%5/ ' /)0 %: $'- :: $'- <: 6FURWDO )UDPH %7 &526629(5 1 &(' '2&
0$*6 :,16721 %:
&:
0$*6 675$:%(55< ::
5,%
$872 '2//$5 *(1(5$/ 5 <:
<*
0$
,0)
0$*6 89$/'$ 6& 07, $ 3/86 5,7$
'DUN .QLJKW LV D WUHPHQGRXV FRPELQDWLRQ RI SHGLJUHH VLUHG E\ :LQVWRQ RXW RI 8YDOGD SHUIRUPDQFH ZHDQLQJ DQG \HDUOLQJ DQG (3' EDODQFH ZLWK D KXJH VSUHDG IURP %LUWK WR <HDUOLQJ *UHDW PDWHUQDO WRSV RII D VWXG ORRN DQG JUHDW VWUXFWXUH +202 3ROOHG DQG +202 %ODFN 'DUN .QLJKW GRHV QRW PLVV D EHDW ,I \RX ZDQW LPSURYHPHQW FRQVLGHU WKH 'DUN .QLJKW
ZZZ *UDVVURRWV*HQHWLFV FRP
2ZQHG E\ 2GJOHQ %XFN 5LGJH
7ROO )UHH
+%5/ (TXDOL]HU (
/,0 )/(; +202 %/. 7 +202 3/' 7
+%5/ ( /)0 %: $'- :: $'- <: 6FURWDO )UDPH $ $ 5 7(1 ; 6 $ &(' '2&
6 $ 9 7(1 63((' %:
&:
6 $ 9 0$'$0( 35,'( ::
5,%
$872 '2//$5 *(1(5$/ 5 <:
<*
0$
,0)
+%5/ ;&(37,21$/ ; 6& 07, $872 (;&(37,21$/ 6
(TXDOL]HU EULQJV LQ WKH SHGLJUHH RI 6$9 7HQ 6SHHG DQG FRQWULEXWHV LW WR D WRWDO EHHI SDFNDJH WKDW KDV SHUIRUPDQFH DQG VROLG FRQILUPDWLRQ &RPELQLQJ $QJXV JUHDW ; DQG DQ RXWVWDQGLQJ 'ROODU *HQHUDO GDXJKWHU JLYLQJ (TXDOL]HU WKH IUHVKQHVV DQG H[FLWLQJ IXWXUH WKDW WKH /LP)OH[ EUHHG KDV PDGH SRSXODU ,I \RX ZDQW D SHUIHFW FRQILUPDWLRQ DQG ORDGHG FRQYHQLHQFH WUDLWV WKLV SDFNDJH VKRXOG ILW
2ZQHG E\ 0 5 /LPRXVLQ %XFN 5LGJH
+%5/ *HQHVLV %
/,0 )/(; +202 %/. 7 +202 3/' 7
+%5/ % /)0 %: $'- :: $'- <: 6FURWDO )UDPH (;$5 836+27 % &(' '2&
(;$5 '(19(5 % %:
&:
(;$5 52<$/ /$66 ::
5,%
$872 '2//$5 *(1(5$/ 5 <:
<*
0$
,0)
+%5/ ;&86( 0( ; 6&
07, 0$*6 129,$ *HQHVLV KDV EHHQ LQ D V\GLFDWLRQ PRGH DQG LV QRZ DYDLODEOH WR WKH SXEOLF IRU WKH ILUVW WLPH 2XW RI WKH JUHDW $QJXV VLUH 'HQYHU DQG DQ RXWVWDQGLQJ 'ROODU *HQHUDO GDXJKWHU *HQHVLV LV VWDFNHG IRU PDWHUQDO DQG FDOYLQJ HDVH *UHDW WKUX KLV VKRXOGHU DQG KHDG DQG WRS IRU 0DUEOLQJ *HQHVLV LV D SURYHQ EXOO WKDW JHWV WKHP RQ WKH JURXQG DQG OHWV WKHP GHYHORS
2ZQHG E\ %XFN 5LGJH *DVWRQ &URVV
+8%% %XOOHWSURRI
/,0 )/(; +202 %/. 3 +(7 3/' 7
+8%% % /)0 %: $'- :: $'- <: 6FURWDO )UDPH ' $ 75$9(/(5 &('
'2&
() ;&(66,9( )25&( %:
&:
&)/; 02//<6 ,0$*( ::
5,%
0$*6 ;8.$/$1, <:
<*
0$
,0)
0$*6 =$/,$ 6& 07, 0$*6 5811,1* 21 (037< %XOOHWSURRI LV QRZ RQ WKH PDUNHW DQG WKLV JUHDW VRQ RI ;FHVVLYH )RUFH LV EUHG WR VLUH FDWWOH KDYH WKH H\H DSSHDO DQG WRWDO EDODQFH GHVLUHG E\ FDWWOHPHQ DFURVV WKH FRXQWU\ 9HU\ FRUUHFW ZLWK D SHGLJUHH VWHHSHG LQ EOXH ULEERQV %XOOHWSURRI KDV WKH SHUIRUPDQFH DQG VW\OH WR EH WKH ;FHVVLYH )RUFH VRQ WR WDNH RYHU
2ZQHG E\ -&/ /DZUHQFH *HW]
+817 %LOO\ 5D\ %
%LOO\ 5D\ RIIHUV \RX D GLIIHUHQW SHGLJUHH DQG D GLIIHUHQW SDFNDJH ZKLOH EULQJLQJ RXWVWDQGLQJ SHUIRUPDQFH VFURWDO VL]H DQG D JUHDW %: WR <: VSUHDG 2XW RI *DPH 'D\ %LOO\ 5D\ KDV D FRPSOHWH SDFNDJH RI JURZWK DQG FRQYHQLHQFH WUDLWV +H LV WRS LQ JURZWK DQG VWLOO KDV D %: HSG ,I \RX ZDQW WR SXW D GLIIHUHQW WZLVW LQWR \RXU /LPIOH[ SHUIRUPDQFH SURJUDP %LOO\ 5D\ LV \RXU PDQ
ZZZ *UDVVURRWV*HQHWLFV FRP
/,0 )/(; +(7 %/. 7 +202 3/' 7
+817 % /)0 %: $'- :: $'- <: 6FURWDO )UDPH *'$5 *$0( '$< &(' '2&
$ $ 5 *$0( '$< %:
&:
(9(5*5((1 $ $ 5 ::
5,%
&2/( :8/) +817 <:
<*
0$
,0)
+817 0,66 :8/)+817 8 6& 07, +817 +$5021< +
2ZQHG E\ +XQW /LPRXVLQ 5DQFK
7ROO )UHH
+XQW &UHGHQWLDOV & (7
385(%5(' 5(' +202 3/' 7
+817 & 130 %: $'- :: $'- <: 6FURWDO )UDPH +817 5266 5 &(' '2&
+817 7(67$0(17 7 %:
&:
+817 587+ 5 ::
5,%
:8/)6 6,*1$785( 6 <:
<*
0$
,0)
-.7: :+,6.(< 5,9(5 : 6& 07, -.7: 5$'',621 5 +XQW &UHGHQWLDOV KDV D JUHDW QXPEHU SURILOH DQG WKLV RXWFURVV +RPR 3ROOHG VRQ RI +XQW 7HVWDPHQW KDV DOO WKH WRROV 7KLFNPDGH DQG VWRXW &UHGHQWLDO VKRXOG VLUH FDWWOH WKDW KDYH JURZWK DQG WKLFNQHVV WKDW FRPPHUFLDO PHQ GHVLUH &KHFN RXW WKH %LUWK WR *URZWK VSUHDG DQG WKLQN DERXW WKH ZD\V \RX FDQ XVH D EXOO ZLWK WKHVH &UHGHQWLDOV
2ZQHG E\ +XQW /LPRXVLQ :XOI &DWWOH
- %DU - 'HOHJDWH '
/,0 )/(; +202 %/. 7 +202 3/' 3
*/'/ ' /)0 %: $'- :: $'- <: 6FURWDO )UDPH & 5 $ %(;725 &(' '2&
* $ 5 3523+(7 %:
&:
* $ 5 2%-(&7,9( ::
5,%
$872 '2//$5 *(1(5$/ 5 <:
<*
0$
,0)
-21. 32// 81,48( 8 6& 07, -21. %/$&. 6,/.
'HOHJDWH EULQJV D GLIIHUHQW SHGLJUHH DQG D ZKROH EXFNHW RI PDUEOLQJ WR WKH GLVFXVVLRQ &KHFN RXW WKH 07, DQG WKH PRGHUDWH ELUWKZHLJKW (3' DQG WKLQN DERXW WKH VHW RI KHLIHUV \RX FRXOG FUHDWH IRU WKH QH[W JHQHUDWLRQ ,I \RX KDYH WKDW VXSHU SRZHU IHPDOH WKDW QHHGV D OLWWOH VKRW RI PDUEOLQJ 'HOHJDWH FRXOG XVH \RXU YRWH
2ZQHG E\ &LUFOH / /LPRXVLQ
- 0D[HG 2XW * 5(' $1*86 5(' +202 3/' 3
* 5$$
%LHEHU 5ROOLQ 'HHS < :(%5 0D[HG 2XW 0LVV %+5 &RSSHU ' :(%5 7& &DUG 6KDUN - 7HPSHVW % 6/*1 6WRQ\ V 7HPSHVW 7
&(' %: :: <: 0$ 6&
'2& &: 5,% <* ,0)
07,
0D[HG 2XW LV GLUHFW IURP WKH &KDPSLRQ 5HG $QJXV 3HQ DQG WKLV FRZER\ EXOO LV WKH NLQG WKDW FDQ NLFN XS \RXU 5(' /LP)OH[ SURJUDP +XJH WRSSHG ZLWK WUHPHQGRXV ULE DQG ERG\ WKLV \RXQJ EXOO KDV WKH VW\OH DQG SHUIRUPDQFH WR ZRUN RQ D PXOWLWXGH RI SXUHEUHG FRZV ,I \RX ZDQW WR VWDUW D QHZ OLQH RI UHG FDWWOH 0D[ 2XW \RXU RSWLRQV
2ZQHG E\ 3XUHEHHI *HQHWLFV -
/ &DOYDGRV &
&DOYDGRV ZDV WKH 6XSUHPH &KDPSLRQ EXOO DW 5DSLG &LW\ DQG KH LV FRQWLQXLQJ KLV OHJDF\ ZLWK D VWURQJ ORRN DQG WUHPHQGRXV SKHQRW\SH 9HU\ VRXQG DQG /LPRXVLQ WKLFN WKLV WUHPHQGRXV /LP)OH[ LV +RPR%ODFN DQG +2023ROOHG ,I \RX DUH ORRNLQJ IRU D EXOO WKDW FDQ WKURZ /LPRXVLQ EUHHG FKDUDFWHU DQG RIIHUV D RXWFURVV ORRN DQG SDFNDJH KHUH V \RXU PDQ &DOYDGRV
ZZZ *UDVVURRWV*HQHWLFV FRP
/,0 )/(; +202 %/. 7 +202 3/' 7
/6%/ & /)0 %: $'- :: $'- <: 6FURWDO )UDPH +& ),1$/ 7,0( &(' '2&
/ ;75(0( ; %:
&:
/ &+,/, 3(33(5 . ::
5,%
1257+(51 ,03529(0(17 <:
<*
0$
,0)
0,66 / < 6&
07, 0,66 / :
2ZQHG E\ :LOGHU /LPRXVLQ
7ROO )UHH
/$0. (VFURZ ( (7
/,0 )/(; +202 %/. 7 +202 3/' 7
/$0. ( /)0 %: $'- :: $'- <: 6FURWDO )UDPH & 5 $ %(;725 &(' '2&
* $ 5 3523+(7 %:
&:
* $ 5 2%-(&7,9( ::
5,%
-&/ /2'(67$5 / <:
<*
0$
,0)
$872 (;&(37,21$/ 6 6& 07, 0,1( 3/' (;&(37,21$/ ( /$0. (VFURZ LV D /LP)OH[ EXOO ZLWK FDUFDVV WUDLWV RXW WKH ZLQGRZ 7RS 0DUEOLQJ WRS 07, FRPELQHV ZLWK WHPHQGRXV SHUIRUPDQFH DQG DQ JHQHUDOO\ RXWFURVV SHGLJUHH 6LUHG E\ *DUGLQHUV 3URILW EXOO DQG RXW RI WKH JUHDW %XFN 5LGJH GRQRU $872 ([FHSWLRQDO KH SXWV PDWHUQDO PDUEOLQJ DQG FDOYLQJ HDVH LQ RQH SDFNDJH ,I \RX EXLOG FDWWOH WKDW ZRUN /$0. (VFURZ KDV DOO WKH SLHFHV
2ZQHG E\ &RRVD 5LYHU
/)/ (OOLV ( (7
/,0 )/(; +202 %/. 3 +202 3/' 3
%/$: ( /)0 %: $'- :: $'- <: 6FURWDO )UDPH 0$*6 $33/(6((' &(' '2&
0$*6 &$%/( %:
&:
0$*6 =(48,1 ::
5,%
&2/( :,1')$// : <:
<*
0$
,0)
/)/ %/$&. 9(/9(7 % (7 6& 07, $872 %/,66 <
(OOLV FDPH RXW RI WKH SRSXODU SHQ RI /DZUHQFH V DQG WKLV JUHDW VRQ RI &DEOH ZHQW WR WKH WUHPHQGRXV +XQW SURJUDP LQ 1HEUDVND 6RXQG IRRWHG YHU\ FOHDQ DQG QHDW LQ KLV SDWWHUQ (OOLV FRPELQHV GHSWK WKLFNQHVV DQG VWUXFWXUH ZLWK D SHUIRUPDQFH SDFNDJH WKDW KDV JURZWK DQG FDUFDVV ,I \RX ZDQW WKH QH[W OLQH RI JURZWK FDWWOH WKDW DUH IXQ WR ORRN DW ZH IHHO OLNH (OOLV ILOOV WKDW SURILOH
2ZQHG E\ +XQWV /LPRXVLQ /DZUHQFH )DPLO\ /LPRXVLQ
/)/ )HUUDUL )
/,0 )/(; +202 %/. 3 +202 3/' 3
%/$: ) /)0 %: $'- :: $'- <: 6FURWDO )UDPH %$6,1 )5$1&+,6( 3 &(' '2&
0$*6 81,7( 72*(7+(5 %:
&:
0$*6 5(0%5$1'7 ::
5,%
0$*6 =2',$& <:
<*
0$
,0)
0$*6 &$1'5($ 6& 07, 0$*6 $1'5($
)HUUDUL FDPH RXW RI WKH 'HQYHU <DUGV WR 'LYLVLRQ &KDPSLRQ RQ WKH KLOO DQG EHVLGHV KLV WUHPHQGRXV SKHQRW\SH DQG SHUIRUPDQFH KH SDFNV D SHGLJUHH ZDOORS ZLWK FDOYLQJ HDVH PDWHUQDO DQG PDUEOLQJ 6LUHG E\ 0$*6 8QLWH 7RJHWKHU KLV +202 %ODFN DQG +202 3ROOHG SDFNDJH VKRXOG VLUH IHPDOHV WR NHHS DQG EXOO WKDW DUH LQ GHPDQG 7KLQNLQJ DERXW JHWWLQJ LQ WKH IDVW ODQH EHWWHU KDYH D )HUUDUL
2ZQHG E\ <DUVNL /DZUHQFH
/)/& %DQN $FFRXQW %
%DQN $FFRXQW LV RQH RI WKH VWRXWHVW 5HG EXOOV DURXQG DQG WKLV JUHDW SXUHEUHG KDV WKH SHUIRUPDQFH DQG HSG V WR PDWFK KLV RXWVWDQGLQJ SKHQRW\SH 'HHS ERGLHG DQG WKLFN WKLV \RXQJ JUDQGVRQ RI ;WUDFWRU LV RXW RI D WUHPHQGRXV 5DQVRP GDXJKWHU JLYLQJ KLP D VROLG IRRWLQJ RI FDOYLQJ HDVH PDWHUQDO DQG JURZWK ,I \RX QHHG WR PDNH WKHP UHG DQG EHWWHU FKHFN RXW %DQN $FFRXQW
ZZZ *UDVVURRWV*HQHWLFV FRP
385(%5(' 5(' +202 3/' 7
/)/& % 130 %: $'- :: $'- <: 6FURWDO )UDPH :8/)6 ;75$&725 ; ; &(' '2&
:8/) 6 =,3/2&. 1 = %:
&:
3/1' :,1'0,// : ::
5,%
:8/)6 5$1620 5 <:
<*
0$
,0)
/)/& ; ;75$ *22' 6& 07, /)/& '$.27$ %(//( 8
2ZQHG E\ /XGHQV )UDQVHHQ
7ROO )UHH
/)/& ([HFXWLYH (
385(%5(' %/. +202 3/' 7
/)/& ( 130 %: $'- :: $'- <: 6FURWDO )UDPH *5((1:22' 3/' ;75$ &(' '2&
*5((1:22' &$1$',$1 %:
&:
*5((1:22' :,67(5,$ /$1( ::
5,%
:8/)6 :$/&277 ) : <:
<*
0$
,0)
/)/& <$1.(( *,5/ < 6& 07, /)/& 819(,/(' 8 ([HFXWLYH ZDV &KDPSLRQ DW WKH %ODFN +LOOV 6WRFN 6KRZ DQG LPSUHVVHG DOO ZLWK KLV VRXQG VWUXFWXUH DQG VRIW PDNHXS 6LUHG E\ /XGHQV QHZ EXOO &DQDGLDQ 0DGH ([HFXWLYH LV EUHG WR KDYH ORWV RI PLGGOH DQG EH VRXQG *UHDW RXW KLV KLS KH EULQJV D GLIIHUHQW WZLVW WR WKH SXUHEUHG SLFWXUH KH RIIHUV SXUHEUHG EUHHGHUV D QHZ SHGLJUHH DQG D QHZ ORRN ([HFXWLYH PD\ MXVW EH WKH PDQ IRU WKH MRE &RQVLGHU KLP
2ZQHG E\ /XGHQV 5RP Q
0$*6 $OL
/,0 )/(; +202 %/. 7 +202 3/' 3
0$*6 $ /)0 %: $'- :: $'- <: 6FURWDO )UDPH &211($/< &216(1686 &(' '2&
&211($/< &216(1686 %:
&:
%/8( /,//< 2) &21$1*$ ::
5,%
'+92 '(8&( 5 <:
<*
0$
,0)
0$*6 <2.2 6& 07, (;/5 /$'< 1
0$*6 $OL KDV WKH FKDQFH WR EHFRPH WKH *UHDW 2QH LI \RX UH ORRNLQJ IRU D EXOO WKDW KDV WKH QXPEHU SDFNDJH WKDW FRPELQHV FDOYLQJ HDVH DQG PDWHUQDO ZLWK JURZWK DQG SHUIRUPDQFH +LJK PDUEOLQJ +202 3ROOHG DQG +202 %ODFN WKLV VRQ RI &RQVHQVXV KDV WKH SRWHQWLDO WR GR LW DOO $OL KDV DOO WKH DQVZHUV ZLWK VW\OH DQG EDODQFH
2ZQHG E\ 0DJQHVV
0$*6 $SSOH -DFN
/,0 )/(; +(7 %/. 7 +(7 3/' 7
0$*6 $ /)0 %: $'- :: $'- <: 6FURWDO )UDPH 5,72 , 2) 5,72 , &('
'2&
0$*6 ;8.$/$1, %:
&:
0$*6 8.$/$1, ::
5,%
0$*6 6+<//2 <:
<*
0$
,0)
:/5 8*/< %(77< 8 6& 07, -&/ +(,', 6
$SSOH -DFN KDV RXWVWDQGLQJ SKHQRW\SH WR EH WKH QH[W JUHDW EXOO IRU EXLOGLQJ UHSODFHPHQW KHLIHUV ,I \RX KDYH D JURXS RI SHUIRUPDQFH FDWWOH WKDW QHHG WKDW QRWFK RI FDOYLQJ HDVH DQG SKHQRW\SH WKHQ $SSOH -DFN LV \RXU PDQ 'HHS ERGLHG YHU\ VRXQG IRRWHG HDV\ PRYLQJ DQG VRIW SDWWHUQHG ZH WKLQN $SSOH -DFN KDV WKH FRPELQDWLRQ WR VWDUW \RXU GD\
2ZQHG E\ 6PLWK %URWKHUV
0$*6 $YLDWRU
$YLDWRU LV VLULQJ FDWWOH WKDW ZRUN LQ WKH EXOO SHQ DQG H[FHO LQ WKH VKRZULQJ ZLWK KLV FRPELQDWLRQ RI VW\OLVK SKHQRW\SH DQG WUHPHQGRXV SHUIRUPDQFH LW PDNHV KLP D PXVW WU\ +202 %ODFN DQG +202 3ROOHG KH RIIHUV VXSHU VWUXFWXUH FDOYLQJ HDVH DQG FDUFDVV DOO LQ RQH SDFNDJH ,I \RX UH ORRNLQJ IRU D VXUH WKLQJ WDNH WR WKH VN\V ZLWK $YLDWRU
ZZZ *UDVVURRWV*HQHWLFV FRP
/,0 )/(; +202 %/. 7 +202 3/' 3
0$*6 $ /)0 %: $'- :: $'- <: 6FURWDO )UDPH %7 &526629(5 1 &(' '2&
0$*6 :,16721 %:
&:
0$*6 675$:%(55< ::
5,%
'+92 '(8&( 5 <:
<*
0$
,0)
0$*6 ;75$ 5(67 6& 07, 0$*6 815(67
2ZQHG E\ /LQKDUW /LPRXVLQ
7ROO )UHH
0DJV &DEOH
/,0 )/(; +202 %/. 3 +202 3/' 3
0$*6 & /)0 %: $'- :: $'- <: 6FURWDO )UDPH 5,72 (0 2) / (0%/$=21 &(' '2&
0$*6 $33/(6((' %:
&:
0$*6 :$< 72 6+,1( ::
5,%
%2+, 723 '2//$5 7 <:
<*
0$
,0)
0$*6 =(48,1 6&
07, :(51(5 5,7$
0$*6 &DEOH KDV VRPH RI WKH EHVW FDOYHV ZH VHH GD\ LQ GD\ RXW 7KLV 287&5266 +202 % +202 3 VRQ RI $SSOHVHHG KDV WKH GHSWK RI ERG\ VXSHU VWUXFWXUH DQG WUHPHQGRXV (3' SURILOH WKH EUHHG KDV EHHQ ORRNLQJ IRU 0DUEOLQJ FDOYLQJ HDVH DQG PLONLQJ DELOLW\ JLYH KLP D OHJ XS LQ VLULQJ FDWWOH WKDW ZLOO JURZ DQG IXQFWLRQ ,I \RX DUH WLUHG RI WKUHH FKDQQHOV JHW &DEOH
2ZQHG E\ 0DJQHVV *UDYHQ DQG &DEOH 6\QGLFDWH
0$*6 (DJOH <
/,0 )/(; +202 %/. 7 +202 3/' 7
0$*6 < /)0 %: $'- :: $'- <: 6FURWDO )UDPH %7 &526629(5 1 &(' '2&
0$*6 :,16721 %:
&:
0$*6 675$:%(55< ::
5,%
$872 '2//$5 *(1(5$/ 5 <:
<*
0$
,0)
0$*6 :(% 2) '(&(,7 6& 07, &$%,1 &5((. %(+$9(
0$*6 (DJOH FRPELQHV JUHDW SHUIRUPDQFH ZHDQLQJ ZHLJKW ZLWK IODZOHVV SKHQRW\SH LQWR D FRPSOHWH SDFNDJH WKDW KDV QR 5XORQ DQG QR /RGHVWDU ,I \RX DUH ORRNLQJ IRU D EXOO WR XVH RQ 5RGHPDVWHU GDXJKWHUV WKLQN DERXW WKLV VWUDLJKW WRSSHG JRRG OHJJHG VRQ RI :LQVWRQ &RPPHUFLDO RU SXUHEUHG LWV DERXW SRXQGV LWV WLPH WR DQWH XS 7KH (DJOH KDV ODQGHG
2ZQHG E\ +DOO 0DJQHVV
0$*6 (YHUHVW
/,0 )/(; +202 %/. 7 +202 3/' 7
0$*6 ( /)0 %: $'- :: $'- <: 6FURWDO )UDPH 0$*6 :,16721 &(' '2&
0$*6 =2',$& %:
&:
0$*6 ;$17+286 ::
5,%
0$*6 <,3 <:
<*
0$
,0)
0$*6 %22. :250 6& 07, (;* ( 0 /6 0$*6 (YHUHVW KDV EHHQ LQ 6\QGLFDWLRQ DQG WKLV RXWVWDQGLQJ VRQ RI SHUIRUPDQFH JLDQW =RGLDF KDV WKH OHQJWK RI ERG\ DQG H[WHQVLRQ RI IUDPH WKDW VKRXOG VLUH FDWWOH WKDW JURZ DQG SHUIRUP (YHUHVW LV ORDGHG ZLWK FRQYHQLHQFH WUDLWV +RPR]\JRXV %ODFN +RPR]\JRXV 3ROOHG ZLWK ORWV RI SHUIRUPDQFH DQG D VLGH RUGHU RI VW\OH ,I \RX QHHG WR PRYH \RXU SURJUDP XS WKH PRXQWLDQ FRQVLGHU (YHUHVW
2ZQHG E\ /DNH 6LGH 0DJQHVV
0$*6 )DXOWOHVV )
/,0 )/(; +202 %/. 7 +202 3/' 7
0$*6 ) /)0 %: $'- :: $'- <: 6FURWDO )UDPH 0$*6 $/, &('
'2&
70&. &$6+ )/2: & %:
&:
70&. 1,1$ ; ::
5,%
/+ 52'(0$67(5 5 <:
<*
0$
,0)
0$*6 $1'5,$ 6& 07, 0$*6 ;$1'5,$
)DXOWOHVV ZDV RQH RI WKH /HDGRII EXOOV IURP WKH 0DJQHVV <HDUOLQJ &DUORDG DQG WKLV \RXQJ VRQ RI SHUIRUPDQFH JLDQW &DVK )ORZ DGGV DQRWKHU JUHDW FRZ WR WKH HTXDWLRQ VR \RX JHW WKH WRWDO SDFNDJH RI JURZWK DQG PDWHUQDO :LWK JUHDW VWUXFWXUH GLVSRVLWLRQ DQG +202=<*286 ERWK ZD\V )DXOWOHVV FDQ EH \RXU DQVZHU IRU ZKDW V QH[W ,I \RX QHHG D EXOO WKDW ZLOO VLUH JURZWK $1' VW\OH )DXOWOHVV LV \RXU PDQ
ZZZ *UDVVURRWV*HQHWLFV FRP
2ZQHG E\ *XORWWD V /LYH 2DN /LPRXVLQ
7ROO )UHH
0$*6 )HGHUDO 5HVHUYH (7
/,0 )/(; +202 %/. 3 +202 3/' 7
0$*6 ) /)0 %: $'- :: $'- <: 6FURWDO )UDPH 0$*6 $33/(6((' &(' '2&
0$*6 &$%/( %:
&:
0$*6 =(48,1 ::
5,%
6$9 +(66721 <:
<*
0$
,0)
&-6/ % (7 6& 07, $+&& ;+,%,7 7+,6 ;
)HGHUDO 5HVHUYH LV QRZ RQ WKH PDUNHW DQG WKLV JUHDW &DEOH VRQ EULQJV LW DOO WR WKH WDEOH FKHFN RXW WKH JUHDW 0DUEOLQJ QXPEHU DQG FDOYLQJ HDVH IULHQGO\ &(' DQG %: 7KLQN DERXW WKH +202 %ODFN DQG +202 3ROOHG SDFNDJH XVLQJ RQH RI WKH EUHHGV PRVW FRQVLVWHQW VLUHV DQG RQH RI 0DJQHVV V JUHDWHVW GRQRUV ,I \RX OLNH WR UDLVH EXOOV WKDW FRPPHUFLDO PHQ GHVLUH DQG IHPDOHV WKDW VWD\ LQ WKH KHUG )HGHUDO 5HVHUYH KROGV DOO WKH FKLSV
2ZQHG E\ +DJHU 0DJQHVV
0$*6 )LUHVWRQH )
/,0 )/(; +(7 %/. 7 +202 3/' 3
0$*6 ) /)0 %: $'- :: $'- <: 6FURWDO )UDPH 0$*6 ;8.$/$1, &('
'2&
0$*6 $33/( -$&. %:
&:
:/5 8*/< %(77< 8 ::
5,%
0$*6 =2',$& <:
<*
0$
,0)
0$*6 '$<67$5 6& 07, 0$*6 $&7,21 029( )LUHVWRQH FDPH RXW RI WKH \DUGV LQ WR EH WKH 'HQYHU &KDPSLRQ DQG WKLV JUHDW \RXQJ VLUH QRZ LV RIIHUHG WR WKH SXEOLF %DODQFHG (3' SURILOH FRPELQHG ZLWK IODZOHVV VWUXFWXUH JLYHV )LUHVWRQH D OHJ XS LI \RX DUH ORRNLQJ WR LQFRUSRUDWH D QHZ SHGLJUHH LQ \RXU SURJUDP 7KLQN DERXW WKH RSWLRQV WKDW DZDLW D EXOO ZLWK ELUWK DQG 0LON ZKLOH VWLOO KROGLQJ D <HDUOLQJ 'RQ W UXQ WKH WLUHV RII \RXU FDU ORRNLQJ IRU DOWHUQDWLYHV JR ZLWK D ZLQQHU )LUHVWRQH
2ZQHG E\ /LQKDUW 7KRPDV DQG 6RQV 0DJQHVV
0$*6 6XPPLW
/,0 )/(; +202 %/. 7 +(7 3/' 7
0$*6 ' /)0 %: $'- :: $'- <: 6FURWDO )UDPH 0$*6 ;</2,' &(' '2&
0$*6 =$332 %:
&:
0$*6 7,0(/(66 ::
5,%
/+ 52'(0$67(5 5 <:
<*
0$
,0)
0$*6 <'$// 6& 07, 0$*6 8'$//
0$*6 6XPPLW VWRPSHG RXW RI WKH <DUGV LQ DQG ZDV VHOHFWHG &KDPSLRQ EXOO LQ WKH +LOO 6KRZ DW 'HQYHU DQG KH KDVQ W ORRNHG EDFN DV KH FRQWLQXHV WR VKRZ WKH WUHPHQGRXV VW\OH DQG EDODQFH WKDW PDGH KLP D FKDPSLRQ &RPELQLQJ ;\ORLG DQG 5RGHPDVWHU 6XPPLW LV QRZ RQ WKH RSHQ PDUNHW DQG VKRXOG EH WKH SHUIHFW VROXWLRQ IRU LI \RX ZDQW FDWWOH WKDW JURZ DQG ORRN JRRG :H IHHO KH FRXOG EH MXVW WKH WLFNHW RQ ([FHVVLYH )RUFH FDWWOH WKLQN DERXW FOLPELQJ RQERDUG
2ZQHG E\ /DNH 6LGH 0DJQHVV
0$*6 =RGLDF
/,0 )/(; +202 %/. 7 +202 3/' 3
0$*6 = /)0 %: $'- :: $'- <: 6FURWDO )UDPH %7 &526629(5 1 &(' '2&
0$*6 :,16721 %:
&:
0$*6 675$:%(55< ::
5,%
'+92 '(8&( 5 <:
<*
0$
,0)
0$*6 ;$17+286 6&
07, %2+, 5+21'$ 5
=RGLDF RIIHUV 635($' DQG 32:(5 =RGLDF ZDV WKH WRS VHOOLQJ EXOO DW 0DJQHVV DQG WKLV JUHDW GRXEOH KRPR VRQ RI :LQVWRQ KDV WKH OLJKW ELUWKZLHJKW DQG HSG WR EH D UHDO FXUYHEHQGHU =RGLDF LV ORQJERGLHG FRUUHFW DQG VWLOO D PRQVWHU IRU JURZWK ,I \RX ZDQW D EXOO WKDW ZLOO EH RQH RI WKH QH[W JUHDW RQHV =RGLDF KDV WKH VWDUV LQ KLV FRXUW
ZZZ *UDVVURRWV*HQHWLFV FRP
2ZQHG E\ =RGLDF 6\QGLFDWH
7ROO )UHH
1$+8 ([FHO ( (7
385(%5(' +202 %/. 3 +202 3/' 3
1$+8 ( 130 %: $'- :: $'- <: 6FURWDO )UDPH 0$*6 7+( *(1(5$/ &(' '2&
$872 &58=( ; %:
&:
$872 5(%(&$ 6 ::
5,%
'+92 '(8&( 5 <:
<*
0$
,0)
0$*6 8$+8.$ 6& 07, &$55286(/6 3,1$ &2/$'$
([FHO PD\ MXVW EH WKH QH[W JUHDW FDOYLQJ HDVH SXUHEUHG +202 % DQG +202 3 WKLV RXWVWDQGLQJ VRQ RI $872 &UX]H FRPELQHV (3' V ZLWK D VXSHU VKRXOGHU DQG VPDOO KHDG :LWK D VROLG \HDUOLQJ ZHLJKW ([FHO KDV VROLG PDWHUQDO QXPEHUV DQG D YHU\ VW\OLVK SKHQRW\SH WKDW VKRXOG VLUH KHLIHUV \RX FDQ NHHS DQG EXOOV ZLWK EDODQFH 2XW RI WKH JUHDW 0$*6 8DKXND EDFN WR 3LQD &RODGD ([FHO LV ORDGHG IRU D EULJKW IXWXUH JHW RQ WKLV EDQGZDJRQ
2ZQHG E\ +XQWV + /LPRXVLQ ([FHO 5DQFKHV
5(<5 )UHLJKW 7UDLQ )
/LP)OH[ +(7 %/. 7 +202 3/' 7
5(<5 ) ) /)0 %: $'- :: $'- <: 6FURWDO )UDPH '9+2 '(8&( 5 &(' '2&
7$6) &52:1 52<$/ & (7 %:
&:
7$6) :+,6.(< /8//$%< ::
5,%
(;$5 1(: /22. <:
<*
0$
,0)
5(<5 0,66 1(: /22. ; 6& 07, 5(<5 0,66 ,03$&7 8
)UHLJKW 7UDLQ LV D ILWWLQJ QDPH IRU WKLV ORQJ ERGLHG VWRXW VRQ RI &URZQ 5R\DO 7KLV WUHPHQGRXV /LP)OH[ EXOO ERDVWV D WUHPHQGRXV 3$3 VFRUH RI DW IW DQG KDV WKH DGGLWLRQDO PXVFOH WKDW VKRXOG PDNH KLP ZRUN RQ ERWK /LPRXVLQ RU /LP)OH[ SHGLJUHHV &KHFN RXW WKH PDWHUQDO YDOXHV DQG WKH OHQJWK RI ERG\ DQG WRWDO JURZWK 7KLV LV D QH[W JHQHUDWLRQ EXOO WKDW LV FRPLQJ GRZQ WKH WUDFN
2ZQHG E\ 5H\QROGV 5DQFK
5/%+ 'D\V 2I 7KXQGHU (7
/,0 )/(; +(7 %/. 7 +202 3/' 7
5/%+ ' /)0 %: $'- :: $'- <: 6FURWDO )UDPH ' $ 75$9(/(5 &(' '2&
() ;&(66,9( )25&( %:
&:
&)/; 02//<6 ,0$*( ::
5,%
(;/5 1(: *(1(5$7,21 <:
<*
0$
,0)
() <$))$ < 6& 07, 0$*6 526( 3(7$/
'D\V 2I 7KXQGHU LV D IXOO EURWKHU WR $LU )RUFH 2QH ZLWK D QLFH DGGRQ KH V +RPR 32//(' &DOYLQJ HDVH DQG WUHPHQGRXV FRQILUPDWLRQ PDNHV JLYH WKLV \RXQJ VRQ RI ;FHVVLYH )RUFH WKH WRWDO FRQILUPDWLRQ DQG VWUXFWXUH WKDW EUHHGHUV GHVLUH ,I \RX ZDQW WR VLUH FDWWOH WKDW GRPLQDWH WKH WDQEDUN LI \RX ZDQW WR ZLQ WKH UDFH FRQVLGHU 'D\V 2I 7KXQGHU
2ZQHG E\ 3 %DU 6 /LPRXVLQ
5201 )OR\G 0XGKHQNH\ )
)OR\G 0XGKHQNH\ FRPHV ZLWK D PHPRUDEOH QDPH DQG D KRVW RI FDOYLQJ HDVH DQG PDWHUQDO WUDLWV WKDW VKRXOG PDNH KLP WKH JUHDW FKRLFH IRU ILUVW FDOI KHLIHUV +LV RXWVWDQGLQJ SKHQRW\SH ZDV RQ GLVSOD\ LQ 'HQYHU DQG KH ZHQW RXW RI WKH \DUGV RQWR WKH KLOO DV 'LYLVLRQ 5HVHUYH &KDPSLRQ 7KLV +202 3ROOHG SXUHEUHG KDV WKH FRQILUPDWLRQ DQG XVHU IULHQGO\ QXPEHUV WR ZRUN DQ\ZKHUH UHPHPEHU )OR\G 0XQKHQNH\
ZZZ *UDVVURRWV*HQHWLFV FRP
385(%5(' %/. +202 3/' 7
5201 ) 130 %: $'- :: $'- <: 6FURWDO )UDPH $872 /8&.< 675,.( % &(' '2&
$872 /8&.< *8< ' (7 %:
&:
$872 5(%(&$ $ ::
5,%
5201 ;3(&7 025( ; <:
<*
0$
,0)
5201 $5(7+$ $ 6& 07, 5201 58%< 5
2ZQHG E\ 520 1 6XSHU & /LPRXVLQ
7ROO )UHH
581/ 6WHWVRQ 6
385(%5(' +202 %/. 7 +202 3/' 3
581/ 6 130 %: $'- :: $'- <: 6FURWDO )UDPH +8176 +, /,7(5 * &(' '2&
-&/ /2'(67$5 / %:
&:
/2*$1 6 &+((5/($'(5 * ::
5,%
&2/( :8/) +817 <:
<*
0$
,0)
581/ / 6& 07, 581/ 6WHWVRQ KDV LPSUHVVHG WKH EUHHG ZLWK WUHPHQGRXV FDOYHV LQ WKH 5XQQLQJ &UHHN \DUGV DQG QRZ KH LV KDQJLQJ KLV KDW DW :XOIV DQG LV VXUH WR VLUH FDWWOH WKDW KDYH DGGHG JURZWK DQG SHUIRUPDQFH 6WRXW PDGH DQG ZLWK WKH EHVW VSUHDG \RX FDQ ILQG LQ D SXUHEUHG 6WHWVRQ KDV WKH QXPEHUV DQG SKHQRW\SH WR VLUH SHUIRUPDQFH FDWWOH IRU EUHHGHUV DQG FRPPHUFLDO PHQ DOLNH
2ZQHG E\ :XOI /LPRXVLQ
6FKLOOLQJ *DPH 2YHU
/LP)OH[ +202 %/. 7 3/' &'6; * /)0 %: $'- :: $'- <: 6FURWDO )UDPH (;$5 &/$66(1 % &(' '2&
6+,//,1*6 5 / &/$66,),(' %:
&:
5 / (+ *(25*,1$ ::
5,%
'+92 '(8&( 5 <:
<*
0$
,0)
6&+,//,1*6 %($87,&,$1 6& 07, &56/ 52;,( 5 *DPH 2YHU EULQJV DQ RXWVWDQGLQJ SKHQRW\SH DQG D EUDQG QHZ SHGLJUHH WR WKH /LP)OH[ PDUNHW DQG ZH IHHO OLNH WKLV \RXQJ VRQ RI 6KLOOLQJV 5 / &ODVVLILHG FRXOG EH MXVW WKH DQVZHU IRU FDWWOH WKDW QHHG WKDW H[WUD ELW RI VW\OH DQG H\H DSSHDO 2XW RI D JUHDW 'HXFH GDXJKWHU FRQVLGHU WKH OHQJWK RI IURQW VXSHU VWUXFWXUH DQG WUHPHQGRXV OLQHV DV \RX PDNH PDWLQJV IRU IXWXUH VKRZ KHLIHUV ,I \RX OLNH WKHP ZLWK WKH ORRN LW V *DPH 2YHU
2ZQHG E\ 'DYLV 6FKLOOLQJ
6672 %HVW %HW %
/,0 )/(; +202 %/. 7 +(7 3/' 7
6672 % /)0 %: $'- :: $'- <: 6FURWDO )UDPH 6 $ 9 +(5,7$*( &(' '2&
6 $ 9 +$59(6725 %:
&:
6 $ 9 (0%/<1(77( ::
5,%
'+92 '(8&( 5 <:
<*
0$
,0)
(/&; 7:,/,*+7 ; 6& 07, ')/& +%+3& 6 %HVW %HW LV QRZ RQ WKH PDUNHW DQG FDOYHV DUH RQ WKH JURXQG DQG WKH\ ORRN JUHDW 6WRXW GHHS DQG JURZWK\ %HVW %HW EULQJV LQ D GLIIHUHQW SHGLJUHH JRLQJ EDFN WR 6FKDII $QJXV EUHHGLQJ LQ WKH JUHDW 6$9 +DUYHVWRU 9HU\ ORRVH LQ KLV VWUXFWXUH DQG IUHH PRYLQJ %HVW %HW VKRXOG VLUH IHPDOHV WR NHHS DV WKH EURRG PDWURQV RI WKH IXWXUH ,I \RX DUH WLUHG RI H[SHULPHQWLQJ WU\ %HVW %HW
2ZQHG E\ /LQKDUW 6WRZHUV
6672 (WHUQLW\ ( (7
(WHUQLW\ ZDV WKH WRS VHOOHU DQG ILUVW SLFN RXW RI WKH 6WRZHUV 6DOH DQG WKLV 'RXEOH +202 VWXG LV ORDGHG ZLWK VW\OH EDODQFH DQG H\H DSSHDO 6LUHG E\ ;FHVVLYH )RUFH DQG RXW RI WKH JUHDW $EVROXWH 6W\OH IHPDOH (WHUQLW\ KDV WKH EDODQFHG QXPEHU DQG VXSHULRU SKHQRW\SH WR WKH QH[W JUHDW VKRZ VLUH DQG WKH QH[W JUHDW KLHIHU EXOO ,I \RX ZDQW WR FKDQJH QRZ GRQ W ZDLW IRUHYHU SLFN (WHUQLW\
ZZZ *UDVVURRWV*HQHWLFV FRP
/,0 )/(; +202 %/. 7 +202 3/' 3
6672 ( /)0 %: $'- :: $'- <: 6FURWDO )UDPH ' $ 75$9(/(5 &(' '2&
() ;&(66,9( )25&( %:
&:
&)/; 02//<6 ,0$*( ::
5,%
6,/9(,5$6 67</( <:
<*
0$
,0)
//-% $%62/87( 67</( 6& 07, 0$*6 :$66$,/
2ZQHG E\ 5HG 5RFN /LPRXVLQ
7ROO )UHH
6672 )XU\ ) (7
/,0 )/(; +202 %/. 7 +202 3/' 7
6672 ) /)0 %: $'- :: $'- <: 6FURWDO )UDPH '$0(521 ),567 &/$66 &(' '2&
&2/%851 35,02 %:
&:
6,/9(,5$6 6$5$6 '5($0 ::
5,%
70&. '85+$0 :+($7 ; <:
<*
0$
,0)
5,9(56721( &+$50(' 6& 07, +6) <285 )$17$6< 6672 )XU\ EULQJV D ZKROH GLIIHUHQW SHGLJUHH WR WKH /LPIOH[ EDOOJDPH 2XW RI WKH WUHPHQGRXV GRQRU 5LYHUVWRQH &KDUPHG DQG VLUHG E\ &ROEXUQ 3ULPR )XU\ KDV WKH VLGH SURILOH DQG IODVK WKDW PDGH KLV VLUH IDPRXV FRPELQHG ZLWK WKH /LPRXVLQ EUHHG FKDUDFWHU WKDW VHWV 5LYHUVWRQH &KDUPHG DSDUW 7KLFNPDGH DQG VW\OLVK )XU\ VKRXOG EH D VODP GXQN RQ $YLDWRUV &UHHG V DQG &DEOHV ,I \RXU GHVLUH D UR\DO SHGLJUHH IRU WKH WDQEDUN EULQJ RXW WKH )XU\
2ZQHG E\ 6WRZHUV /LPRXVLQ
6<(6 %DFNVWDJH %
385(%5(' +202 %/. 7 +202 3/' 7
6<(6 % 130 %: $'- :: $'- <: 6FURWDO )UDPH &2/( 7+81'(5 7 &(' '2&
'/9/ ;(52; ; %:
&:
'/9/ 6.< 6 ::
5,%
6<(6 86(5 )5,(1'/< 8 <:
<*
0$
,0)
0,66 6<(6 )5,(1'/< = 6& 07, 0,66 6<(6 758&. ; %DFNVWDJH ZDV WKH KLJK VHOOHU DW 6\PHQV %URWKHUV DQG IRU JRRG UHDVRQ DV KH FRPELQHV FRQYHQLHQFH WUDLWV +202 %ODFN +202 3ROOHG DQG FDOYLQJ HDVH ZLWK VROLG SHUIRUPDQFH DQG RXWVWDQGLQJ VWUXFWXUH %DFNVWDJH VKRXOG EH WKH FDOYLQJ HDVH VLUH RI WKH IXWXUH DQG FURVV ZHOO RQ 5XORQV /RGHVWDUV 'HXFHV DQG ;FHVVLYH )RUFH ,I \RX ZDQW D VLUH ZLWK D VROLG EDFN URXQG LQ HFRQRPLFV WKLQNLQJ DERXW ORRNLQJ %DFNVWDJH
2ZQHG E\ :XOI &DWWOH &R
6<(6 (QFRUH (
385(%5(' +202 %/. 3 +202 3/' 3
6<(6 ( 130 %: $'- :: $'- <: 6FURWDO )UDPH :8/)6 =,3/2&. 1 = &(' '2&
/)/& &+(&.,1* $&&2817 %:
&:
/)/& ; ;75$ *22' ::
5,%
3/1' 526&2( 5 <:
<*
0$
,0)
0,66 6<(6 526&2( ; 6& 07, 0,66 6<(6 /,1(%$&.(5 6 6<(6 (QFRUH FDPH RXW RI WKH JUHDW 6\PHQV %URWKHUV 3URJUDP LV ORRNLQJ OLNH D SXUHEUHG EXOO WKDW KDV DOO WKH WRROV 6LUHG E\ &KHFNLQJ $FFRXQW WKLV ORQJ ERGLHG VWUDLJKW OLQHG EXOO VKRXOG VLUH FDOYLQJ HDVH DQG OHQJWK RI ERG\ +202 %ODFN DQG +202 3ROOHG (QFRUH LV ORDGHG ZLWK SHUIRUPDQFH WUDLWV ,I \RX DUH QHHGLQJ D GLIIHUHQW WZLVW WKDW KLWV DOO WKH EDVHV 5DLVH WKH FXUWDLQ WDNH DQ (QFRUH
2ZQHG E\ )LOOPRUH 6\PHQV
7$6) %HOLHYH %
%HOLHYH LV RQH RI WKH PRVW VWUXFWXUDOO\ VRXQG EXOOV \RX ZLOO HYHU UXQ LQWR 6LUHG E\ 'HXFH DQG RXW RI D JUHDW &KHUU\ .QROO FRZ %HOLHYH EULQJV D IUHVK PDWHUQDO VLGH DQG D IODZOHVV VWUXFWXUH WR D +202 % DQG +202 3 SDFNDJH ,I \RX ZDQW JUHDW SHUIRUPDQFH DQG ERQH ERG\ DQG VWUXFWXUH ZH %HOLHYH \RX FDQ JHW LW KHUH 1RZ 3ULFHG DW ZH %(/,(9(
ZZZ *UDVVURRWV*HQHWLFV FRP
/,0 )/(; +202 %/. 7 +202 3/' 7
7$6) % /)0 %: $'- :: $'- <: 6FURWDO )UDPH *3)) %/$48( 58/21 &(' '2&
'+92 '(8&( 5 %:
&:
$0< -2 '+$1 / ::
5,%
+ 6 $ ) %$1'2 <:
<*
0$
,0)
&+(55< .12// (/6$ 6& 07, (/6$ 2) &21$1*$
2ZQHG E\ 7KRPDV DQG 6RQV
7ROO )UHH
7$6) &URZQ 5R\DO & (7
385(%5(' +202 %/. 3 +202 3/' 7
7$6) & 130 %: $'- :: $'- <: 6FURWDO )UDPH *3)) %/$48( 58/21 &(' '2&
'+92 '(8&( 5 %:
&:
$0< -2 '+$1 / ::
5,%
(;/5 1$6'$4 5 <:
<*
0$
,0)
7$6) :+,6.(< /8//$%< 6& 07, 70&. 0,66 7+,&. 7 &URZQ 5R\DO ZDV WKH 'HQYHU &KDPSLRQ +202 3 DQG +202 % WKLV RXWVWDQGLQJ SXUHEUHG KDV WKH ORRN DQG IHHO RI D EUHHG OHDGHU +LV ILUVW FDOYHV DUH VKRZLQJ WKH SRZHU DQG VW\OH WKDW PDGH WKLV EXOO SRSXODU /RRNLQJ IRU D SURYHQ SXUHEUHG FKHFN RXW KLV IODZOHVV SKHQRW\SH DQG EDODQFHG QXPEHUV DQG WKLQN DERXW WKH IHPDOHV WKDW \RX KDYH WKDW QHHG D OLWWOH VKRW RI &URZQ 5R\DO
2ZQHG E\ 7KRPDV -&/
7-05 %ULPVWRQH % (7
/,0 )/(; +202 %/. 7 +202 3/' 7
7-05 % /)0 %: $'- :: $'- <: 6FURWDO )UDPH 7& $%(5'((1 &(' '2&
0$*6 < $;,6 %:
&:
0$*6 8$+8.$ ::
5,%
*3)) %/$48( 58/21 <:
<*
0$
,0)
-/:0 %(// 3(33(5 8 6& 07, :%%. 5(' 3(33(5 0
%ULPVWRQH LV WKH KLJK SHUFHQWDJH < $[LV VRQ ZH KDYH EHHQ ZDLWLQJ IRU 7KLFNPDGH DQG ORDGHG ZLWK GHSWK %ULPVWRQH LV VLULQJ FDWWOH ZLWK SHUIRUPDQFH DQG VW\OH +202 %ODFN DQG +202 SROOHG %ULPVWRQH VKRXOG SXW JURZWK PXVFOH DQG ERQH LQWR DQ\ VHW RI IHPDOHV ,I \RX DUH ZDQWLQJ FDWWOH ZLWK D FRPELQDWLRQ RI SRZHU DQG VW\OH EULQJ GRZQ WKH %ULPVWRQH
2ZQHG E\ 7 - &DWWOH &R
70&. $PHULFDQ 0DGH ' (7
385(%5(' +202 %/. 7 +202 3/' 3
70&. ' 130 %: $'- :: $'- <: 6FURWDO )UDPH :=5. 35,0(67$5 3 &(' '2&
:8/)6 ;&/86,9( ; %:
&:
:8/)6 0,66,9( 0 ::
5,%
$+&& :(67:,1' : <:
<*
0$
,0)
70&. 833(5 +$1' < 6& 07, 3%56 833(5 +$1'
$PHULFDQ 0DGH FDPH RXW RI 7XEPLOOV WUHPHQGRXV SHQ DQG WKLV +202 %ODFN DQG +202 3ROOHG VRQ RI ;FOXVLYH EULQJ JURZWK DQG SRZHU WR D SXUHEUHG SDFNDJH ZLWK QR 5XORQ DQG QR 'HXFH /RQJ ERGLHG DQG FRUUHFW VWUXFWXUHG $PHULFDQ 0DGH KDV D FRPSOHWH (3' SDFNDJH ZLWK DJJUHVVLYH PDUEOLQJ DQG DQ RXWVWDQGLQJ 07, &KHFN RXW WKLV FRPLQJ EUHHGHUV EXOO DQG WKLQN $PHULFDQ 0DGH
2ZQHG E\ %HUWL /LPRXVLQ 7XEPLOO &UHHN $PHULFDQ 0DGH
70&. &DVK )ORZ &
/,0 )/(; +202 %/. 7 +202 3/' 7
70&. & /)0 %: $'- :: $'- <: 6FURWDO )UDPH &211($/< &216(1686 &(' '2&
0$*6 $/, %:
&:
0$*6 <2.2 ::
5,%
6 $ 9 3,21((5 <:
<*
0$
,0)
70&. 1,1$ ; 6& 07, '9)& 1,1$ 8
70&. &DVK )ORZ LV QRZ D VWRXW VRQ RI 0$*6 $OL WKDW KDV WKH ILJXUHV DQG SHUIRUPDQFH WR PDNH EUHHG OHDGHUV :HDQLQJ DW ZLWK QLFH EDODQFH LQ KLV (3' V DQG JUHDW FRQILUPDWLRQ &DVK )ORZ FRPELQHV JURZWK DQG IUHVK SHGLJUHH LQ D +202 3ROOHG +202 %ODFN SDFNDJH EURWKHU WR WKH 723 +(,)(56 IURP /LQKDUW V 6DOH &DVK )ORZ KDV EHHQ XSGDWHG E\ 1$/) EXW PDLQWDLQV KLV FUHGHQWLDOV DV RQH RI WKH EUHHG V WRS /,0 )OH[ VLUHV
ZZZ *UDVVURRWV*HQHWLFV FRP
2ZQHG E\ &LUFOH 5 7XEPLOO &UHHN
7ROO )UHH
70&. 'DUWPRXWK '
3(5&(17$*( +202 %/. 3 +202 3/' 3
70&. ' 1;0 %: $'- :: $'- <: 6FURWDO )UDPH 70&. +<'5$8/,& < &(' '2&
70&. $5&+,7(&7 $ %:
&:
70&. /$ 9('$ < ::
5,%
$+&& :(67:,1' : <:
<*
0$
,0)
70&. = 6& 07, '9)& &+$552 8 'DUWPRXWK ZDV WKH KLJK SHUFHQWDJH SHUIRUPDQFH JLDQW WR FRPH RXW RI 7XEPLOO &UHHNV 3HQ RI 6SULQJ EXOOV %: RI DQG :HDQLQJ :HLJKW RYHU DQG DOPRVW DW D \HDU 'DUWPRXWK EULQJV D VROLG SHUIRUPDQFH SDFNDJH WR WKH EXVLQHVV 8VHIXO LQ HLWKHU D /LP)OH[ RU 3XUHEUHG SURJUDP 'DUWPRXWK EULQJV \RX WKH NQRZOHGJH WKDW JURZWK LV NLQJ
2ZQHG E\ 6KRDO &UHHN &DWWOH
70&. )LRV ) (7
/,0 )/(; +202 %/. 3 +202 3/' 3
70&. ) /)0 %: $'- :: $'- <: 6FURWDO )UDPH 0$*6 $33/(6((' &(' '2&
0$*6 &$%/( %:
&:
0$*6 =(48,1 ::
5,%
0$*6 < $;,6 <:
<*
0$
,0)
70&. $33/$86( $ 6& 07, 70&. &$68$/ <
)LRV LV RQH RI WKH ILUVW &DEOH VRQV RQ WKH PDUNHW DQG WKLV WUHPHQGRXV SURVSHFW DGGV WKH 70&. $SSODXVH FRZ WR KLV SHGLJUHH EULQJLQJ FDOYLQJ HDVH DQG PDUEOLQJ LQWR D EDODQFHG SHUIRUPDQFH SDFNDJH $Q DGMXVWHG OE ZHDQLQJ ZHLJKW DQG <HDUOLQJ :W FRPELQHV ZLWK D IODZOHVV VWUXFWXUH DQG LPSUHVVLYH WKLFNQHVV :LWK SRXQGV DQG ORRN )LRV KDV D IUHVK SHGLJUHH DQG D EULJKW IXWXUH
2ZQHG E\ %XII %HHI 7XEPLOO &UHHN :KLWHZDWHU %UHKP
70&. )ODVKEDFN )
/,0 )/(; +202 %/. 7 +202 3/' 7
70&. ) /)0 %: $'- :: $'- <: 6FURWDO )UDPH 0$*6 $/, &('
'2&
70&. &$6+ )/2: & %:
&:
70&. 1,1$ ; ::
5,%
0$*6 <,3 <:
<*
0$
,0)
3%56 $/(1$ $ 6& 07, /%$) 6+$:1((
)ODVKEDFN LV WKH &DVK )ORZ VRQ WKDW ZRZHG WKHP LQ 'HQYHU ZLWK KLV WUHPHQGRXV SHUIRUPDQFH DQG RXWVWDQGLQJ SKHQRW\SH :LWK DQ DGMXVWHG :: RI DQG <: RI KH DOVR ORRNV WKH SDUW ZLWK WUHPHQGRXV OHQJWK RI ERG\ DQG JUHDW KLS VWUXFWXUH &RPELQH DGMXVWHG VFURWDO DQG VROLG PDWHUQDO DQG PDUEOLQJ QXPEHUV DQG \RX KDYH WKH QH[W OLQH RI SHUIRUPDQFH JHQHWLFV /RRN WR WKH IXWXUH DQG FRQVLGHU D )ODVKEDFN
2ZQHG E\ /DNH 6LGH 7XEPLOO &UHHN 0DJQHVV +DJHU
70&. )OH[ )LW )
/,0 )/(; +202 %/. 3 +202 3/' 7
70&. ) /)0 %: $'- :: $'- <: 6FURWDO )UDPH 0$*6 $33/(6((' &(' '2&
0$*6 &$%/( %:
&:
0$*6 =(48,1 ::
5,%
(%)/ <36,/$17, < <:
<*
0$
,0)
() %(55,(6 1 &5($0 % 6& 07, /+ =$0%5$ =
)OH[ )LW V QDPH GHVFULEHV LW DOO KH V D /LP)OH[ WKDW ILWV HYHU\ SURJUDP 5HDOO\ VRXQG DQG PDGH OLNH D GUHDP )OH[ )LW WKHQ DGGV WUHPHQGRXV SHUVRQDO SHUIRUPDQFH DQG D EDODQFHG (3' 3URILOH WKDW LV KHDY\ RQ JURZWK DQG PDWHUQDO ,I \RX ZDQW WKH QH[W JHQHUDWLRQ RI KHUG VLUH WKH &DEOH EORRGOLQH ZLOO EH RQH WKDW JRHV GRZQ LQ KLVWRU\ +202 % DQG +202 3 )OH[ )LW ZLOO ZRUN ZKHUHYHU \RX QHHG KLP KH MXVW ILWV
ZZZ *UDVVURRWV*HQHWLFV FRP
2ZQHG E\ 0DUWLQ /LPRXVLQ 7XEPLOO &UHHN
7ROO )UHH
71*& (PSLUH (
/,0 )/(; +202 %/. 7 +202 3/' 3
71*& ( /)0 %: $'- :: $'- <: 6FURWDO )UDPH 0$*6 $/, &(' '2&
70&. &$6+ )/2: & %:
&:
70&. 1,1$ ; ::
5,%
0$*6 =2',$& <:
<*
0$
,0)
0$*6 %(7+ (7 6& 07, 0$*6 7+($75,&$/
(PSLUH SXWV WRJHWKHU RQH RI WKH EHVW FRPELQDWLRQ SDFNDJHV LQ WKH /LP)OH[ RSWLRQ 3HUIRUPDQFH ELUWK WR \HDUOLQJ VSUHDG FDUFDVV ZLWK D WRS PDUEOLQJ FRQYHQLHQFH WUDLWV +202 % DQG +202 3 ZLWK VFURWDO (3' V DQG KH KDV D SKHQRW\SH ULJKW RXW RI WRPRUURZ ELJ KLSSHG ELJ ERQHG DQG VWUXFWXUDOO\ VRXQG ,I \RX ZDQW D SHUIRPDQFH EXOO ZLWK VW\OH DQG JUDFH LWV WLPH WR VWDUW \RXU RZQ (PSLUH
2ZQHG E\ -RQHV %URWKHUV $7$. 0DJQHVV +DJHU 0 5
7209 'LHVHO '
385(%5(' 5(' +202 3/' 7
7209 ' 130 %: $'- :: $'- <: 6FURWDO )UDPH *9 ; 0$1 ; &(' '2&
*9 $867,1 $ %:
&:
*9 0,66 /2'(67$5 7 ::
5,%
:8/)6 :$*21 75$,1 : <:
<*
0$
,0)
0,66 720 < 6& 07, 0,66 720 7 'LHVHO LV PDNLQJ KLV PDUN LQ WKH QRUWK FRXQWU\ RQ WKH FDOYHV RQ JURXQG *RLQJ EDFN WR *9 ; 0DQ 'LHVHO KDV WKH OHQJWK RI ERG\ DQG /LPRXVLQ WKLFNQHVV WKDW LV GHVLUHG E\ FDWWOHPHQ HYHU\ZKHUH *UHDW SHUIRUPDQFH ZLWK WKH RSWLRQ RI D IUHVK SHGLJUHH DQG RXWVWDQGLQJ SKHQRW\SH PDNHV 'LHVHO D JRRG FKRLFH LI \RX DUH UDLVLQJ EXOOV IRU FRPPHUFLDO FDWWOHPHQ HYHU\ZKHUH
2ZQHG E\ 7UHIW] 9DXJKQ (IIHUW]
7506 5HG 'LUW &RZER\ ' (7
/,0 )/(; 5(' +202 3/' 7
7506 ' /)0 %: $'- :: $'- <: 6FURWDO )UDPH %8) &5. 7+( 5,*+7 .,1' &(' '2&
3,( 7+( &2:%2< .,1' %:
&:
3,( &$6&$'( ::
5,%
:8/)6 :(// 68,7(' : <:
<*
0$
,0)
(1*' =(1$1$ = 6& 07, (1*' ;75$ ),1( ;
5HG 'LUW &RZER\ LV ILQDOO\ KHUH DQG WKLV \RXQJ RXWFURVV /LP)OH[ PD\EH EH MXVW WKH WLFNHW IRU JURZWK\ 5(' /LPIOH[ FDWWOH WKDW QHHG D QHZ SHGLJUHH WZLVW 6LUHG E\ 5HG $QJXV /HDGHU 3LH &RZER\ .LQG DQG RXW RI WKH JUHDW (QJOHZRRG =HQDQD IHPDOH WKLV +202 3ROOHG 5HG EXOO FRXOG EH WKH OHDGHU IRU WKH QH[W 5(' JUHDW RQH 7KLQN DERXW ZKHUH \RX UH KHDGHG WU\ VRPH 5HG 'LUW
2ZQHG E\ 6HYHQ 2DNV /LPRXVLQ
:&%. $YLDWRU 6WHS 8S (
/,0 )/(; +202 %/. 3 +202 3/' 3
:&%. ( /)0 %: $'- :: $'- <: 6FURWDO )UDPH 0$*6 :,16721 &(' '2&
0$*6 $9,$725 %:
&:
0$*6 ;75$ 5(67 ::
5,%
0$*6 < $;,6 <:
<*
0$
,0)
(1*' $6+/<11 $ 6& 07, (/&; <(67(5'$< <
6WHS 8S EULQJV D EDODQFHG (3' SDFNDJH DQG DQ H[FHSWLRQDO SKHQRW\SH LQ D FDOYLQJ HDVH PDWHUQDO SDFNDJH :LWK JUHDW GRFLOLW\ DQG VWURQJ 0DUEOLQJ ZH IHHO OLNH 6WHS 8S FDQ RIIHU DQ\ EUHHGHU D RSWLRQ RI D VHFRQG JHQHUDWLRQ $YLDWRU SHGLJUHH WKDW ZLOO FRPH HDV\ DQG DGG WR \RXU SURJUDP &KHFN RXW WKH H[WHQVLRQ DQG GHSWK RI IODQN DQG WKLQN DERXW FRPELQLQJ WZR EUHHG VWDQGRXWV $YLDWRU DQG < $[LV ,W WLPH WR 6WHS 83
ZZZ *UDVVURRWV*HQHWLFV FRP
2ZQHG E\ %ODLU 6SULQJV
7ROO )UHH
:/5 )LQDO &DOO (7
/,0 )/(; +(7 %/. 7 +202 3/' 7
%-/5 ) /)0 %: $'- :: $'- <: 6FURWDO )UDPH *$0%/(6 +27 52' &(' '2&
6,/9(,5$6 67</( %:
&:
6,/9(,5$6 (/%$ ::
5,%
*3)) %/$48( 58/21 <:
<*
0$
,0)
0$*6 3+$17206 35,=( 6&
07, $/&0 .22/ 781(6
)LQDO &DOO FRXOG EH MXVW WKH DQVZHU IRU WKRVH $YLDWRU GDXJKWHUV WKDW KDYH DOO WKDW VW\OH DQG PDWHUQDO ORRN 2XW RI WKH JUHDW 3KDQWRPV 3UL]H DQG VLUHG E\ 6LOYHLUDV 6W\OH )LQDO &DOO KDV WKH ORRN DQG EDFN JURXQG WR VLUH FDWWOH WKDW /22. 7+( 3$57 ,I \RX ZDQW D JUHDW VWUXFWXUH SDFNDJH DQG FRQVLVWHQW JHQHWLF SODQ IRU JUHDW VKRZ FDWWOH WKLV VKRXOG EH \RXU )LQDO &DOO
2ZQHG E\ - )DUPV :LHV /LPRXVLQ
:RRGVLGH 5LWR RI 0 $QJXV +202 %/. 3 +202 3/' 3
$$$ &('
%:
::
<:
0$
6&
'2&
&:
5,%
<*
,0)
07,
& 5 $ %(;725 * $ 5 3523+(7 * $ 5 2%-(&7,9( * $ 5 35('(67,1(' 5,7$ 2) 5,7$ ) 35(' 5,7$ ) 2) , )'
:RRGVLGH 5LWR FDQ DGG WKH 0DUEOLQJ JHQH WR \RXU /LP)OH[ PDWLQJV 2QH RI WKH KLJKHVW EXOOV LQ WKH $QJXV EUHHG :RRGVLGH 5LWR FDQ KHOS \RX EXLOG EDVH EORRGV WKDW KDYH D SUHGLVSRVWLRQ IRU PDUEOLQJ DQG TXDOLW\ JUDGH ,I \RX DUH ZDQWLQJ WR ORDG XS RQ PDUEOLQJ WKLQN DERXW :RRGVLGH 5LWR 2ZQHG E\ (GZDUGV /DQG DQG &DWWOH
:XOIV &RQYHUVLRQ &
385(%5(' +202 %/. 3 +202 3/' 7
), & 130 %: $'- :: $'- <: 6FURWDO )UDPH -&/ /2'(67$5 / &(' '2&
581/ 67(7621 6 %:
&:
581/ / ::
5,%
0$*6 <,3 <:
<*
0$
,0)
70&. /$17(51 $ 6& 07, 70&. /$17(51 < :XOIV &RQYHUVLRQ ZDV RQH RI WKH PRVW SRSXODU EXOOV DW WKH :XOI &DWWOH 6DOH DQG WKLV WKLFNPDGH VWRXW VRQ RI FDOYLQJ HDVH OHDGHU 6WHWVRQ KDV WKH QXPEHUV DQG SKHQRW\SH WKDW EUHHGHUV DUH ORRNLQJ IRU +202 % DQG +202 3 &RQYHUVLRQ KDV WKH SHUIRUPDQFH DQG WKLFNQHVV GRZQ KLV WRS WKDW SURYHV KLP D EHHI EXOO ,I \RX QHHG VRPHWKLQJ GLIIHUHQW PD\EH LW V WLPH IRU D &RQYHUVLRQ
2ZQHG E\ 3HWUH :XOI &DWWOH
:XOIV (DVWHUQ (
/,0 )/(; 5(' +202 3/' 3
), ( /)0 %: $'- :: $'- <: 6FURWDO )UDPH %,(%(5 52//,1 '((3 < &(' '2&
%,(%(5 '((3 (1' % %:
&:
%,(%(5 /$85$ : ::
5,%
:8/)6 ;75$&725 ; ; <:
<*
0$
,0)
:8/)6 & 0,125 & 6& 07, /5)) <80$ <
(DVWHUQ ZDV RQH RI :XOI &DWWOH V WRS VHOOHUV DQG KH KDV PDWXUHG LQWR D WUHPHQGRXV VLUH ZLWK D WRWDOO\ QHZ ORRN DQG D RXWVWDQGLQJ UHG RXWFURVV SHGLJUHH 6LUHG E\ %LHEHU 'HHS (QG DQG RXW RI D \RXQJ ;WUDFWRU GDXJKWHU (DVWHUQ VKRXOG EH WKH VWDUWHU RI D JUHDW OLQH RI 5HG /LP)OH[ 3HUIRUPDQFH (3' V DQG FDUFDVV DOO LQ D JUHDW ORRNLQJ SDFNDJH FRQVLGHU (DVWHUQ LQ \RXU EUHHGLQJ SODQV
ZZZ *UDVVURRWV*HQHWLFV FRP
2ZQHG E\ 7XEPLOO &UHHN :XOI &DWWOH
7ROO )UHH
:XOIV (LVHQKRZHU (
385(%5(' +(7 %/. 7 +202 3/' 7
), ( 130 %: $'- :: $'- <: 6FURWDO )UDPH 581/ 67(7621 6 &(' '2&
:8/)6 %,//< 7+( .,' . % %:
&:
:8/)6 81,48( 8 ::
5,%
:8/)6 ; 6,*1 +(5( ; ; <:
<*
0$
,0)
:8/)6 $%5,/ $ 6& 07, :8/)6 0<5/(1( 0
(LVHQKRZHU ZDV WKH SRSXODU WRS VHOOHU LQ :XOI &DWWOH VDOH DQG IRU JRRG UHDVRQ DV WKLV WUHPHQGRXV VRQ RI %LOO\ 7KH .LG FRPELQHV D IUHVK SXUHEUHG SHGLJUHH ZLWK D IODZOHVV SHUIRUPDQFH SDFNDJH DQG SHUIHFWO\ EDODQFHG HSG V 7RS IRU PDUEOLQJ DQG KXJH VFURWDO MXVW URXQGV RXW D SDFNDJH WKDW FDQ ZRUN RQ DOPRVW HYHU\ SXUHEUHG DQG /LP)OH[ SHGLJUHH ,I \RX ZDQW WR VWRUP WKH EHDFKKHDG WU\ (LVHQKRZHU
2ZQHG E\ :LH]RUHN :XOI DQG (LVHQKRZHU 6\QGLFDWH
:XOIV 2]DUN . ( (7
/,0 )/(; 5(' +202 3/' 3
), . ( /)0 %: $'- :: $'- <: 6FURWDO )UDPH /$&< *2/' %$5 &(' '2&
%,(%(5 +$5' '5,9( < %:
&:
%,(%(5 /$85$ : ::
5,%
:8/)6 833(50267 8 <:
<*
0$
,0)
:8/)6 <285 &+2,&( < 6&
07, :8/)6 62/2,67 6
2]DUN FDPH RXW RI WKH :XOI &DWWOH VDOH DV WKH IDEXORXV /RW DQG WKLV RXWVWDQGLQJ VRQ RI %HLEHU +DUG 'ULYH JRHV EDFN WR D WUHPHQGRXV 6RORLVW GDXJKWHU 9HU\ FRUUHFW ZLWK D JUHDW KLS DQG OHJ WKLV KHUG VLUH RIIHUV D EUDQG QHZ SHUIRUPDQFH SHGLJUHH DQG D IODZOHVV SKHQRW\SH ,I \RX ZDQW D VKRW RI JURZWK ZLWK VW\OH FRPH WR WKH 2]DUN V
2ZQHG E\ - %DU - :XOI
::/8 )UD]LHU
/,0 )/(; +202 %/. 3 +202 3/' 3
::/8 ) /)0 %: $'- :: $'- <: 6FURWDO )UDPH 0$*6 :,16721 &(' '2&
0$*6 $9,$725 %:
&:
0$*6 ;75$ 5(67 ::
5,%
6$ %,60$5&. <:
<*
0$
,0)
&-6/ ' (7 6& 07, 0$*6 62/,7$,5(
)UD]LHU FDPH RQ WKH VFHQH E\ SRZHULQJ KLV ZD\ WR WKH EDFNGURS DW WKH ,QGLDQD 6WDWH )DLU ZLQQLQJ 5HVHUYH 6XSUHPH EXOO 7KLV WUHPHQGRXV VRQ RI EUHHG JLDQW $YLDWRU LV JRRG RQ WKH PRYH DQG KDV LPSUHVVLYH GLPHQVLRQ LGHDO IUDPH DQG SODQWV RQ D ODUJH IRRW DQG ERQH $ERYH DOO KH LV H[WUHPHO\ GRFLOH DQG KLV ILUVW FDOYHV DUH RQ WKH JURXQG FRPLQJ VPDOO ZLWK YLJRU DQG WKH ORRN $OO LQGLFDWRUV WHOO XV KH VKRXOG EH JUHDW RQ ILUVW FDOI KHLIHUV
2ZQHG E\ :KLWHZDWHU /LPRXVLQ
:=5. $WODV $
385(%5(' 5HG +202 3/' 3
:=5. $ 130 %: $'- :: $'- <: 6FURWDO )UDPH :8/)6 7,786 7 &(' '2&
:8/)6 ;75$&725 ; ; %:
&:
:8/)6 0<5/(1( 0 ::
5,%
:8/)6 1$6&$5 * 1 <:
<*
0$
,0)
:=5. 0,66 1$6&$5 8 6& 07, :=5. 0,66 ) /,1(5 /
$WODV FRPELQHV SHUIRUPDQFH WUDLWV ZLWK FRQYHQLHQFH WUDLWV DQG WKHQ WKURZV LQ VROLG JHQRPLFV DQG D JUHDW SKHQRW\SH +202 3ROOHG DQG SXUHEUHG $WODV KDV WKH EDFNJURXQG DQG JURZWK WKDW FRPPHUFLDO FDWWOHPHQ GHVLUH +H VKRXOG VLUH GDXJKWHUV WKDW KDYH D VROLG PDWHUQDO LQIOXHQFH 9HU\ GHHS ERGLHG WKLFN PDGH DQG VRIW LQ KLV VWUXFWXUH WKLV \RXQJ VLUH KDV SRWHQWLDO WR KHOS DQ\ SURJUDP $WODV FDQ VKRXOGHU WKH ORDG
ZZZ *UDVVURRWV*HQHWLFV FRP
2ZQHG E\ 6PLWK %URWKHUV :LHF]RUHN
7ROO )UHH
:=5. ([FHOOHQWH (
385(%5(' 5(' +202 3/' 7
:=5. ( 130 %: $'- :: $'- <: 6FURWDO )UDPH :=5. 35,0(67$5 3 &(' '2&
:8/)6 ;&/86,9( ; %:
&:
:8/)6 0,66,9( 0 ::
5,%
5201 78)) (18)) 7 <:
<*
0$
,0)
:=5. 0,66 78))(18)) 6& 07, :=5. 0,66 5$1*(5,'(5
([FHOOHQWH LV WKH QH[W UHG EXOO ZLWK SHUIHFW (3' EDODQFH DQG SKHQRW\SLF H[FHOOHQFH ,I \RX DUH ORRNLQJ IRU D EXOO WR DGG SXUHEUHG EUHHG FKDUDFWHU DQG D IODZOHVV JHQHWLF SDFNDJH ([FHOOHQWH FDQ GR WKH WULFN 7KLFN PDGH DQG ORDGHG ZLWK PXVFOH ([FHOOHQWH VKRXOG UHDOO\ ZRUN RQ WKDW VHW RI UHG /LP)OH[ IHPDOHV WKDW \RX ZDQW WR ZRUN XS D QRWFK
ZZZ *UDVVURRWV*HQHWLFV FRP
2ZQHG E\ :XOI &DWWOH :LHF]RUHN
7ROO )UHH