5

8VHU*XLGH(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV:$51,1*
5HDGDQGXQGHUVWDQGWKHVHRSHUDWLQJLQVWUXFWLRQVEHIRUHXVLQJWKLV$EUDVLYH%ODVW0DFKLQH)DLOXUHWRIROORZRSHUDWLQJLQVWUXFWLRQVFRXOGUHVXOWLQGHDWKVHULRXVLQMXU\RUGDPDJHWRHTXLSPHQW(OFRPHWHU$EUDVLYH%ODVW0DFKLQHVKDYHEHHQGHVLJQHGWREHVDIHZKHQSURSHUO\XVHGDQGDUH
GHVLJQHGPDQXIDFWXUHGDQGWHVWHGLQDFFRUGDQFHZLWKWKH3UHVVXUH(TXLSPHQW'LUHFWLYH 3(' DQG
&((8,WLVLPSHUDWLYHWKDWDOOXVHUVRIWKLV$EUDVLYH%ODVW0DFKLQHUHDGDQGIXOO\XQGHUVWDQGWKLVXVHUJXLGH%()25(XVLQJRUVHUYLFLQJDQ\$EUDVLYH%ODVW0DFKLQHZZZHOFRPHWHUFRPEODVWLQJ

5&217(176
6HFWLRQ

3DJH

'HFODUDWLRQRI&RQIRUPLW\

HQ



3URGXFW,GHQWLILFDWLRQ

HQ



:DUQLQJV 6DIHW\3UHFDXWLRQV

HQ



6DIHW\6\PEROV 6DIHW\/DEHO,QIRUPDWLRQ

HQ



3URGXFW2YHUYLHZ7KH$EUDVLYH%ODVW6\VWHP

HQ



7HFKQLFDO6SHFLILFDWLRQ

HQ



,QVWDOODWLRQ&KHFNOLVW

HQ



/RFDWLQJ<RXU$EUDVLYH%ODVW0DFKLQH $%0

HQ



(DUWKLQJ<RXU$EUDVLYH%ODVW0DFKLQH $%0

HQ



&RPSUHVVHG$LU $LU&RPSUHVVRU6L]H

HQ



&RPSUHVVHG$LU6XSSO\/LQH

HQ



&RPSUHVVHG$LU4XDOLW\

HQ



3HUVRQDO3URWHFWLRQ(TXLSPHQW 33( 

HQ



$EUDVLYH0HGLD

HQ



3UHVVXUH5HOLHI9DOYH 359

HQ

8VLQJDQ(OFRPHWHU$EUDVLYH%ODVW0DFKLQH $%0

HQ



%HIRUH6ZLWFKLQJRQWKH&RPSUHVVHG$LU6XSSO\

HQ



6HWWLQJ8S &KHFNLQJWKH$LU0RLVWXUH6HSDUDWRU LIILWWHG

HQ



&KHFNLQJWKH([KDXVW6LOHQFHU([KDXVW7 ([KDXVW0DQLIROG

HQ



&KHFNLQJWKH3XVKHU/LQH$VVHPEO\0L[LQJ7 $EUDVLYH0HWHULQJ9DOYH

HQ



&KRNH9DOYH

HQ



&RQQHFWLQJD%UHDWKH$LU)LOWHUWRWKH$%0

HQ



)LOOLQJWKH$%0ZLWK$EUDVLYH%ODVW0HGLD

HQ



$GMXVWLQJWKH+HLJKWRIWKH3RS8S3ODWH

HQ



6ZLWFKLQJRQWKH&RPSUHVVHG$LU6XSSO\ *HQHUDO2SHUDWLRQ

HQ



 6KXWGRZQ3URFHGXUH

HQ 7KH5HPRWH&RQWURO9DOYH 5&9

HQ



&DUH 0DLQWHQDQFH

HQFRQWLQXHGHQ

ZZZHOFRPHWHUFRPEODVWLQJ

5&217(176 FRQWLQXHG
6HFWLRQ

3DJH(OFRPHWHU$%0'UDZLQJV 3DUWV/LVWV

HQ (OFRPHWHU3RUWDEOH$%0

HQ

 (OFRPHWHU3RUWDEOH$%0

HQ (OFRPHWHU3RUWDEOH$%0

HQ (OFRPHWHU3RUWDEOH$%0

HQ (OFRPHWHU3RUWDEOH$%0

HQ (OFRPHWHU3RUWDEOH$%0

HQ

 (OFRPHWHU++LJK3UHVVXUH3RUWDEOH$%0

HQ (OFRPHWHU++LJK3UHVVXUH3RUWDEOH$%0

HQ (OFRPHWHU++LJK3UHVVXUH3RUWDEOH$%0

HQ



7UDQVSRUWDWLRQ 6WRUDJH

HQ



:DUUDQW\6WDWHPHQW

HQ

$33(1',&(6$(OFRPHWHU5&9 5&95HPRWH&RQWURO9DOYHV

HQ

$

3URGXFW2YHUYLHZ

HQ

$

'LVFRQQHFWLQJ 5HFRQQHFWLQJWKH5&9

HQ

$

'LVDVVHPEOLQJ 5H$VVHPEOLQJWKH5&9

HQ

$

'LVDVVHPEOLQJ 5H$VVHPEOLQJWKH5&9([KDXVW0DQLIROG

HQ

$

'UDZLQJV 3DUWV/LVW

HQ

0RLVWXUH6HSDUDWRU

HQ

%

5HPRYLQJ 5HSODFLQJWKH)LOWHU(OHPHQW

HQ

%

'UDZLQJV 3DUWV/LVW

HQ

(OFRPHWHU0HGLD9DOYHV*HQHUDO9DOYH *9 0LQL*HQHUDO
9DOYH 0*9 $XWRPDWLF*HQHUDO9DOYH $*9

HQ

&

3URGXFW2YHUYLHZ

HQ

&

5HSODFLQJWKHHOFR728*+9DOYH/LQHU

HQ

&

5HPRYLQJWKH0HGLD9DOYHIURPWKH$%0

HQ

&

'LVDVVHPEOLQJ 5H$VVHPEOLQJ*9 0*99DOYHV

HQ

&

'LVDVVHPEOLQJ 5H$VVHPEOLQJWKH$*9$XWRPDWLF9DOYH6WHP
$VVHPEO\

HQ

%

&

FRQWLQXHGZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

&217(176 FRQWLQXHG
6HFWLRQ

3DJH&(OFRPHWHU*9'UDZLQJV 3DUWV/LVW

HQ

&

(OFRPHWHU0*9'UDZLQJV 3DUWV/LVW

HQ

&

(OFRPHWHU$*9'UDZLQJV 3DUWV/LVW

HQ

(OFRPHWHU0HGLD9DOYHV)ODW9DOYH )9 0LQL)ODW9DOYH 0)9

HQ

'

(OFRPHWHU)9'UDZLQJV 3DUWV/LVW

HQ

'

(OFRPHWHU0)9'UDZLQJV 3DUWV/LVW

HQ

'

)RUWKHDYRLGDQFHRIGRXEWSOHDVHUHIHUWRWKHRULJLQDO(QJOLVKODQJXDJHYHUVLRQRIWKLVXVHUJXLGH7KHPRVW
UHFHQWYHUVLRQLVDYDLODEOHWRGRZQORDGYLDWKHEODVWLQJVHFWLRQRIWKH(OFRPHWHUZHEVLWHZZZHOFRPHWHUFRPEODVWLQJ
3OHDVHHQVXUHWKDWDOOSURGXFWSDFNDJLQJLVGLVSRVHGRILQDQHQYLURQPHQWDOO\VHQVLWLYHPDQQHU&RQVXOW\RXU
ORFDO(QYLURQPHQWDO$XWKRULW\IRUIXUWKHUJXLGDQFH
 LVDUHJLVWHUHGWUDGHPDUNRI(OFRPHWHU/LPLWHG(GJH/DQH0DQFKHVWHU0%8
8QLWHG.LQJGRP$OORWKHUWUDGHPDUNVDFNQRZOHGJHG
(OFRPHWHU/LPLWHG$OOULJKWVUHVHUYHG1RSDUWRIWKLVGRFXPHQWPD\EHUHSURGXFHGWUDQVPLWWHGWUDQVFULEHGVWRUHG LQDUHWULHYDOV\VWHPRURWKHUZLVH RUWUDQVODWHGLQWRDQ\ODQJXDJHLQDQ\IRUPRUE\DQ\
PHDQV HOHFWURQLFPHFKDQLFDOPDJQHWLFRSWLFDOPDQXDORURWKHUZLVH ZLWKRXWWKHSULRUZULWWHQSHUPLVVLRQRI(OFRPHWHU/LPLWHG
5HQZZZHOFRPHWHUFRPEODVWLQJ5'(&/$5$7,212)&21)250,7<:H(OFRPHWHU/LPLWHGGHFODUHWKDWWKHVXSSOLHGHTXLSPHQWZKHQLQVWDOOHGDQGXVHGLQDFFRUGDQFHZLWKWKHVHRSHUDWLQJLQVWUXFWLRQVFRPSOLHVZLWKWKHUHTXLUHPHQWVRIWKH(8'LUHFWLYHVOLVWHGZLWKLQWKLVGHFODUDWLRQE\PHHWLQJWKHIROORZLQJVWDQGDUGV(83UHVVXUH(TXLSPHQW

3'$6SHFLILFDWLRQIRUXQILUHGIXVLRQZHOGHG
SUHVVXUHYHVVHOV&RQIRUPLW\DVVHVVPHQWPRGXOH

0RGXOH% SURGXFWLRQW\SH  0RGXOH'

1DPHDQGDGGUHVVRIWKHQRWLILHGERG\=85,&+(1*,1((5,1*
+DJOH\5RDG(GJEDVWRQ
%LUPLQJKDP%3)8QLWHG.LQJGRP ,GHQWLILFDWLRQQXPEHU&HUWLILFDWHQXPEHU

0
0
0
0
0
0
0+0+0+36
36
36
36
36
36
36%
36%
36% 352'8&7,'(17,),&$7,21
7KHUHLVDSURGXFWLGHQWLILFDWLRQSODWHULYHWWHGWRWKHIURQWRIWKHPDFKLQHVWDWLQJWKHIROORZLQJLQIRUPDWLRQ

z
z
z
z
z
z
z

z

0RGHODQG6HULDO1XPEHU
0D[LPXP:RUNLQJ3UHVVXUH EDUSVL 
2SHUDWLQJ7HPSHUDWXUH &) &DSDFLW\ OLWUHFXIW 
7HVW3UHVVXUH EDUSVL 'DWHRIWHVW GP\ <HDURI&RQVWUXFWLRQ
3UHVVXUH'LUHFWLYH

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5



:$51,1*6 6$)(7<35(&$87,216
7KH ZDUQLQJV LQFOXGHG ZLWKLQ WKLV LQVWUXFWLRQ PDQXDO DUHLQFOXGHGIRUWKHKHDOWKDQGVDIHW\RIERWKWKHRSHUDWRUDQG
DQ\SHUVRQZLWKLQWKHLPPHGLDWHYLFLQLW\

7KLV$EUDVLYH%ODVW0DFKLQHKDVEHHQGHVLJQHGWREHVDIHZKHQ
XVHGLQWKHSURSHUPDQQHUDQ\SHUVRQLQWHQGLQJWRRSHUDWHRUVHUYLFHWKLV$EUDVLYH%ODVW0DFKLQHRUDQ\SHUVRQLQWHQGLQJWR
EHLQWKHYLFLQLW\RIWKLV$EUDVLYH%ODVW0DFKLQH0867UHFHLYH
SURSHUWUDLQLQJIURPDIXOO\WUDLQHGDQGFRPSHWHQWVXSHUYLVRUHPSOR\HURUVXSSOLHU%()25(XVH$Q\SHUVRQLQWHQGLQJWRRSHUDWHWKLV$EUDVLYH%ODVW0DFKLQHRUDQ\SHUVRQLQWHQGLQJWREHLQWKHYLFLQLW\RIWKLV$EUDVLYH%ODVW0DFKLQHZKRLVXQDEOHWRUHDGDQGIXOO\XQGHUVWDQGWKLVLQVWUXFWLRQPDQXDOPXVWEHPDGHIXOO\DZDUHRIDOOGDQJHUVZDUQLQJVDQGVDIHW\QRWLFHVZLWKLQWKLVLQVWUXFWLRQPDQXDODQG
LWVVDIHRSHUDWLRQSULRUWRXVHE\DIXOO\WUDLQHGDQGFRPSHWHQWVXSHUYLVRUHPSOR\HURUVXSSOLHU
1HYHUXVHGDPDJHGRUPDOIXQFWLRQLQJHTXLSPHQW,QVSHFWWKH
$EUDVLYH%ODVW0DFKLQHDQGDQ\SHUVRQDOSURWHFWLYHHTXLSPHQW
WRHQVXUHWKDWLWLVLQJRRGZRUNLQJRUGHUEHIRUHHDFKXVH
'2127RSHUDWHVHOORUUHQWWKLVRUDQ\$EUDVLYH%ODVW0DFKLQHZLWKRXWWKHDSSURSULDWHUHPRWHFRQWUROV\VWHP DOVRUHIHUUHGWR
DV GHDGPDQ¶VFRQWUROV )DLOXUHWRXVHUHPRWHFRQWUROV\VWHPVPD\FDXVHVHULRXVLQMXU\RUGHDWK'2127RSHUDWHWKLV$EUDVLYH%ODVW0DFKLQHXQOHVVWKHUHLVDQDSSURSULDWHVDIHW\SUHVVXUHUHOLHIYDOYHZLWKLQWKHSUHVVXUL]HG
V\VWHPDVDZKROH(OFRPHWHU$EUDVLYH%ODVW0DFKLQHVKDYHDPD[LPXPZRUNLQJSUHVVXUHRIEDUSVL(OFRPHWHU+LJK
3UHVVXUH$EUDVLYH%ODVW0DFKLQHVLGHQWLILHGZLWKWKHOHWWHU + 
ZLWKLQWKHPRGHOQXPEHUKDYHDPD[LPXPZRUNLQJSUHVVXUHRIEDUSVL2QFHILWWHGWKHVDIHW\SUHVVXUHUHOLHIYDOYHZLOOYHQWWKHSUHVVXUL]HGV\VWHPVKRXOGWKHSUHVVXUHZLWKLQWKH
V\VWHPH[FHHGWKHPD[LPXPUDWLQJRIWKHVDIHW\SUHVVXUHUHOLHIYDOYH,IRQHLVQRWORFDWHGZLWKLQWKHV\VWHPDOUHDG\WKLV$EUDVLYH%ODVW0DFKLQHKDVDFPò´SRUWZKLFKFDQEH
XVHGWRILWDQDSSURSULDWHVDIHW\SUHVVXUHUHOLHIYDOYH
'2127XVHDQ\DEUDVLYHVZKLFKFRQWDLQIUHHVLOLFD6LOLFDFDQ
FDXVHVLOLFRVLVDQGRWKHUUHODWHGUHVSLUDWRU\GDPDJH











HQ

ZZZHOFRPHWHUFRPEODVWLQJ

5

:$51,1*6 6$)(7<35(&$87,216 FRQWLQXHG

'2127XVHWKLV$EUDVLYH%ODVW0DFKLQHLQDUHDVWKDWFRXOGEH
FRQVLGHUHGWREHDKD]DUGRXVORFDWLRQ(QVXUHWKDWWKH$EUDVLYH
%ODVW0DFKLQHLVSRVLWLRQHGRQIODWKRUL]RQWDOJURXQGWRDYRLG
DFFLGHQWDOWLSRYHU
'2127RSHUDWHRUEHLQWKHYLFLQLW\RIWKLV$EUDVLYH%ODVW0DFKLQHZLWKRXWDSSURSULDWHSHUVRQDOSURWHFWLYHHTXLSPHQWLQFOXGLQJEXWQRWOLPLWHGWRSURWHFWLYHFORWKLQJDSSURYHG
EUHDWKHDLUUHVSLUDWRUVILOWHUVDEUDVLYHEODVWKHOPHWVIRRWH\H
DQGHDUSURWHFWLRQ$SSURSULDWHZDUQLQJVLJQVVKRXOGEHSRVLWLRQHGDURXQGWKH
EODVWLQJDUHDRIRSHUDWLRQDQGPHDVXUHVPXVWEHWDNHQWRHQVXUHWKDWRQO\SHUPLWWHGSHUVRQQHOZHDULQJDSSURSULDWHSHUVRQDOSURWHFWLRQHTXLSPHQWHQWHUWKHDUHDRIRSHUDWLRQ
6KRXOGDQ\SHUVRQHQWHUWKHDUHDRIRSHUDWLRQZKRLVQRWZHDULQJVXIILFLHQWSHUVRQDOSURWHFWLRQHTXLSPHQWWKH$EUDVLYH
%ODVW0DFKLQH7HQGHU 3RW7HQGHU PXVWLPPHGLDWHO\VKXWGRZQWKHDEUDVLYHEODVWPDFKLQHE\RSHQLQJWKHVDIHW\SHWFRFNYDOYH
UHGKDQGOH VLWXDWHGRQWKH(OFRPHWHU5&9UHPRWHFRQWUROYDOYHDQGRUWKHDEUDVLYHEODVWHUPXVWUHOHDVHWKHOHYHURIWKH
UHPRWHFRQWUROKDQGOH
7KLV$EUDVLYH%ODVW0DFKLQHFRQWDLQVDSUHVVXULVHGYHVVHOZKLFKFRQWDLQVDODUJHDPRXQWRIVWRUHGHQHUJ\ZKLFKFDQ
FDXVHVHULRXVLQMXU\RUGHDWKLIVDIHW\SURFHGXUHVDUHQRWIROORZHG'2127FDUU\RXWDQ\PDLQWHQDQFHRUDWWHPSWWR
RSHQDQ\FRQQHFWLRQSRUWVRIWKLVSUHVVXUHYHVVHOIRUDQ\UHDVRQZLWKRXWILUVWGHSUHVVXULVLQJWKHV\VWHPDQGGLVFRQQHFWLQJWKHFRPSUHVVHGDLUKRVH VRPHWLPHVUHIHUUHGWRDVDEXOOKRVH 
IURPWKH$EUDVLYH%ODVW0DFKLQH
7KLV$EUDVLYH%ODVW0DFKLQHRUDQ\RWKHUSUHVVXULVHGYHVVHO
0867EHGHSUHVVXULVHGDQGGLVFRQQHFWHGIURPWKHDLUVXSSO\%()25(DQ\PDLQWHQDQFHLVFDUULHGRXW
'2127PRGLI\UHFRQILJXUHZHOGJULQGRUEODVWWKLV$EUDVLYH
%ODVW0DFKLQHRULWVFRQWUROV\VWHPZLWKRXWZULWWHQFRQILUPDWLRQ
IURP(OFRPHWHURUDQ(OFRPHWHUDXWKRULVHGEODVWLQJGLVWULEXWRU
'RLQJVRZLOOYRLG\RXUFHUWLILFDWLRQDQGPD\GDPDJH\RXU
$EUDVLYH%ODVW0DFKLQH
'2127XVHWKLV$EUDVLYH%ODVW0DFKLQHIRUDQ\WKLQJRWKHUWKDQLQWKHPDQQHUWKDWLWLVLQWHQGHG















ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5



:$51,1*6 6$)(7<35(&$87,216 FRQWLQXHG

 7KHUHSDLURUUHSODFHPHQWRIDQ\SDUWRIWKLV$EUDVLYH%ODVW0DFKLQHUHPRWHFRQWUROV\VWHPRUPHGLDYDOYHPXVWRQO\EH
FDUULHGRXWXVLQJ(OFRPHWHUDXWKRULVHGUHSODFHPHQWSDUWV8VH
RIQRQ(OFRPHWHUDSSURYHGSDUWVPD\UHVXOWLQHTXLSPHQWIDLOXUHZKLFKPD\UHVXOWLQVHULRXVLQMXU\RUGHDWK8VHRIQRQ(OFRPHWHUDXWKRULVHGSDUWVZLOOYRLGDOOZDUUDQWLHV)RUDFRPSOHWHOLVWRIUHSDLUUHSODFHPHQWLWHPVVHH6HFWLRQ
µ(OFRPHWHU$%0'UDZLQJV 3DUWV/LVWV¶RQSDJHHQ
 2QO\XVHGU\FRPSUHVVHGDLUZKLFKLVIUHHIURPGHEULVLQWKLV$EUDVLYH%ODVW0DFKLQH)DLOXUHWRGRVRFDQFDXVHDQXQVDIHVLWXDWLRQ'2127VXSSO\FRPSUHVVHGDLUWRWKLV$EUDVLYH%ODVW0DFKLQHZKLFKH[FHHGVEDUSVLRUEDUSVLIRU
+LJK3UHVVXUH$EUDVLYH%ODVW0DFKLQHVLGHQWLILHGZLWKWKHOHWWHU+ ZLWKLQWKHPRGHOQXPEHU
 &RPSUHVVHGDLUFDQEHGDQJHURXV(QVXUHWKDWDOOSUHFDXWLRQVUHODWLQJWRWKHXVHRIFRPSUHVVHGDLUDQGFRPSUHVVRUVDUH
FDUULHGRXW 7KLV$EUDVLYH%ODVW0DFKLQHLVKHDY\'2127DWWHPSWWROLIWZLWKRXWWKHXVHRIDSSURSULDWHOLIWLQJIDFLOLWLHV $OO(OFRPHWHU$EUDVLYH%ODVW0DFKLQHVZLWKWKHH[FHSWLRQRIWKH
(OFRPHWHUVKRXOGRQO\EHOLIWHGXVLQJWKHDSSURSULDWHOLIWLQJOXJV'2127H[FHHGWKHPD[LPXPOLIWLQJZHLJKWVHH6HFWLRQµ7HFKQLFDO6SHFLILFDWLRQ¶RQSDJHHQIRUIXUWKHULQIRUPDWLRQ7KH
OXJVDUHFDUHIXOO\SRVLWLRQHGWRHQVXUHWKDWWKHXQLWWLOWVEDFNVOLJKWO\XSRQOLIWLQJWKLVLVWRHQVXUHWKDWWKHZKHHOVDQGQRWWKH
IURQWOHJWRXFKWKHJURXQGILUVWZKHQVHWGRZQ '2127XVHWKLV$EUDVLYH%ODVW0DFKLQHLIWLUHGRUXQGHUWKH
LQIOXHQFHRIGUXJVRUDOFRKRO3OHDVHUHDGDQ\SUHVFULSWLRQGUXJLQIRUPDWLRQWRGHWHUPLQHLI\RXUMXGJPHQWRUUHIOH[HVPD\EH
LPSDLUHG,ILQGRXEW'2127RSHUDWHWKLV$EUDVLYH%ODVW0DFKLQH (QVXUHWKHZDWHUPRLVWXUHVHSDUDWRULVVHWWRSHUPDQHQWO\³VSLW´&ORVLQJWKHZDWHUPRLVWXUHVHSDUDWRUGUDLQYDOYHZLOOFDXVHWKH
ULVNRIZDWHUPRLVWXUHVXUJLQJLQWRWKHPDFKLQH,IWKHFRPSUHVVHGDLUVXSSO\LVGLUW\LWPD\EHQHFHVVDU\WRFOHDQPRLVWXUHVHSDUDWRUDQGGUDLQYDOYH
 9DOYHVSLSHZRUNKRVHJDVNHWVFRXSOLQJVDQGEODVWQR]]OHV
DUHDOOVXEMHFWWRZHDUDQGVKRXOGEHFKHFNHGGDLO\WRHQVXUHWKDWWKH\DUHLQVDIHZRUNLQJRUGHUDWDOOWLPHVHQ

ZZZHOFRPHWHUFRPEODVWLQJ

5

:$51,1*6 6$)(7<35(&$87,216 FRQWLQXHG

 '2127XVHWKLV$EUDVLYH%ODVW0DFKLQHLQFRQILQHGDUHDVZLWKRXWVXIILFLHQWYHQWLODWLRQ 7HPSHUDWXUHFDQDIIHFWWKHSURSHUWLHVRIWKHVWHHODQGDVWKH
$EUDVLYH%ODVW0DFKLQHLVXQGHUSUHVVXUHLW0867127EH
XVHGRXWVLGHRIWKHDOORZDEOHVXUIDFHWHPSHUDWXUHUDQJHDVGLVSOD\HGRQWKHSURGXFWLGHQWLILFDWLRQSODWH &) )DLOXUHWRGRVRFRXOGUHVXOWLQWKHUXSWXUHRIWKHSUHVVXUHYHVVHOZKLFKFRXOGFDXVHVHULRXVLQMXU\RUGHDWK3OHDVHQRWHWKDWWKH
$EUDVLYH%ODVW0DFKLQHWHPSHUDWXUHPD\EHKLJKHUWKDQWKH
DPELHQWWHPSHUDWXUHGXHWRVRODUKHDWLQJ 7RDYRLGDFFLGHQWDOGLVFRQQHFWLRQHQVXUHWKDWDOOEODVWDQGDLUKRVHVDUHFRUUHFWO\FRQQHFWHGDQGIDVWHQHGZLWKDSSURSULDWHFRXSOLQJVDIHW\SLQVDQGZKLSFKHFNVDUHLQVWDOOHGDWHDFKFRQQHFWLRQ '2127SRLQWRUDLPWKHEODVWKRVHDWDQ\SHUVRQRUDQ\ORRVH
REMHFW (QVXUHWKDWWKHHQYLURQPHQWDURXQG\RXLVFOHDURIDQ\ORRVH
REMHFWVDQGPDNHVXUHWKDWWKHREMHFWEHLQJEODVWHGLVDSSURSULDWHO\IDVWHQHGGRZQ ,QWKHHYHQWRIDEORFNDJHRULQWKHHYHQWZKHUHQRDEUDVLYHRU
DLULVIORZLQJWKURXJKWKHEODVWQR]]OHZKHQWKHGHDGPDQ V
KDQGOHLVLQRSHUDWLRQRUZKHQUHSODFLQJWKHEODVWQR]]OHDOZD\VGLVHQJDJHWKHGHDGPDQ VKDQGOHDQGGHSUHVVXULVHWKH
$EUDVLYH%ODVW0DFKLQHSULRUWRFDUU\LQJRXWDQ\ZRUN
 5HPRYHDOODEUDVLYHIURPWKH$EUDVLYH%ODVW0DFKLQHEHIRUH
WUDQVSRUWLQJRUWLSSLQJWKH$EUDVLYH%ODVW0DFKLQHRQLWVEDFN (QVXUHWKDWDOOZDUQLQJODEHOVDUHDWWDFKHGLQWKHFRUUHFWORFDWLRQVDQGDUHFOHDUO\YLVLEOHDWDOOWLPHV:DUQLQJODEHOVPXVWQHYHUEHFRYHUHG)RUFRUUHFWSODFHPHQWVHH6HFWLRQµ6DIHW\6\PEROV 6DIHW\/DEHO,QIRUPDWLRQ¶RQSDJHHQZZZHOFRPHWHUFRPEODVWLQJ

HQ

5



6$)(7<6<0%2/6 6$)(7</$%(/,1)250$7,21







HQ

ZZZHOFRPHWHUFRPEODVWLQJ

5

6$)(7<6<0%2/6 6$)(7</$%(/,1)250$7,21 FRQW








ZZZHOFRPHWHUFRPEODVWLQJ



HQ

5



6$)(7<6<0%2/6 6$)(7</$%(/,1)250$7,21 FRQW (/&20(7(5$%5$6,9(%/$670$&+,1(:$51,1*/$%(/
3DUW1XPEHU
4XDQWLW\/RFDWLRQ V 07
7RSUHYHQWLQMXU\RUGHDWKUHDGDQG
XQGHUVWDQGDOOZDUQLQJVDQGVDIHW\SURFHGXUHVLQWKHRSHUDWLRQPDQXDO$OOSHUVRQQHOLQWKHDUHDPXVWUHFHLYH
SURSHUWUDLQLQJDQGZHDUKHDOWKDQG
VDIHW\DSSURYHGUHVSLUDWRU\HTXLSPHQWH\HDQGHDUSURWHFWLRQ'HSUHVVXULVHPDFKLQHEHIRUHDQ\
PDLQWHQDQFHORDGLQJRUUHORFDWLRQ
7RSUHYHQWGHOD\HGOXQJLQMXU\GRQRWXVHVDQGRUDQ\VLOLFDSURGXFWDEUDVLYHV)DLOXUHWRSURSHUO\XVHEODVWLQJHTXLSPHQWFRXOGUHVXOWLQVLOLFRVLVDQG
GHDWK

5HDGDQGXQGHUVWDQGWKLVLQVWUXFWLRQPDQXDOEHIRUHXVLQJWKLVPDFKLQH)DLOXUHWRIROORZWKHRSHUDWLQJLQVWUXFWLRQVFRXOGUHVXOWLQGHDWKVHULRXVLQMXU\RUGDPDJHWRHTXLSPHQW
3UHVVXULVHGYHVVHO3URSHOOHGREMHFWVZLOOFDXVH
VHULRXVLQMXU\RUGHDWK'HSUHVVXULVHYHVVHOEHIRUHSHUIRUPLQJDQ\PDLQWHQDQFH
FRQWHQ

ZZZHOFRPHWHUFRPEODVWLQJ

5

6$)(7<6<0%2/6 6$)(7</$%(/,1)250$7,21 FRQW,QFRUUHFWRUGDPDJHGKDQGZD\PDQZD\FRYHUFRPSRQHQWVFDQUHVXOWLQIDLOXUH
6HUYLFLQJZKLOVWSUHVVXULVHGFDQFDXVHVHYHUH
LQMXU\/2&.287VRXUFHDQG5(/,(9(35(6685(EHIRUHVHUYLFLQJ&RQVXOWWKLVXVHUJXLGHIRULQVWUXFWLRQV
7KLVSURGXFWDQGDVVRFLDWHGHTXLSPHQWDUHQRWXQGHUDQ\FLUFXPVWDQFHVWREHXVHGZLWKVDQGRUVLOLFDSURGXFWVRIDQ\W\SHDQGXVHRIVXFKPDWHULDOVZLOOYRLGDQ\ZDUUDQW\
3LQFKSRLQW.HHSKDQGVDQGILQJHUVFOHDU/RXGQRLVHDQGIO\LQJGHEULVKD]DUGV(DUDQGH\HSURWHFWLRQPXVWEHZRUQ
7KHPDQXIDFWXUHUGLVWULEXWRURUUHVHOOHUDVVXPHQRUHVSRQVLELOLW\DULVLQJIURPWKHIDLOXUHWRXVHSURSHUVDIHW\HTXLSPHQWRUWKHIDLOXUHWRSURSHUO\WUDLQHPSOR\HHVLQWKHXVHRISURGXFWVDQGHTXLSPHQW
/RXGQRLVHDQGIO\LQJGHEULVKD]DUGV(DUDQGH\HSURWHFWLRQPXVWEHZRUQ
7KHPDQXIDFWXUHUGLVWULEXWRURUUHVHOOHUDVVXPHQRUHVSRQVLELOLW\DULVLQJIURPWKHIDLOXUHWRXVHSURSHUVDIHW\HTXLSPHQWRUWKHIDLOXUHWRSURSHUO\WUDLQHPSOR\HHVLQWKHXVHRISURGXFWVDQGHTXLSPHQW
/LIWLQJKD]DUG
6LQJOHSHUVRQOLIWFRXOGFDXVHLQMXU\*HWKHOSRUXVH
OLIWLQJPDFKLQHU\ZKHQOLIWLQJZZZHOFRPHWHUFRPEODVWLQJ

HQ

5



6$)(7<6<0%2/6 6$)(7</$%(/,1)250$7,21 FRQW&UXVKKD]DUG
7KLVPDFKLQHDQGKHDY\REMHFWVEHLQJEODVWHGFDQ
WLSFDXVLQJVHULRXVLQMXU\RUGHDWK
7KLVPDFKLQHDQGDQ\REMHFWVEHLQJEODVWHGPXVWEHRQOHYHOJURXQG

 27+(5:$51,1*/$%(/6(;3/$,1('
3UHVVXULVHG'HYLFH:DUQLQJ/DEHO
3UHVVXUHUHOLHIGHYLFHLQWKLVDUHD
3DUW1XPEHU
4XDQWLW\
/RFDWLRQ V  07
DQG

3UHVVXULVHG'HYLFH:DUQLQJ/DEHO
3UHVVXULVHGGHYLFHGHSUHVVXULVHEHIRUHRSHQLQJ
RUVHUYLFLQJ
3DUW1XPEHU
4XDQWLW\
/RFDWLRQ V  07


3LQFK3RLQW/DEHO
3LQFKSRLQWNHHSKDQGVDQGILQJHUVFOHDU
3DUW1XPEHU
4XDQWLW\
/RFDWLRQ V  507
DQG(OFRPHWHU/RJR/DEHO
4XDQWLW\
/RFDWLRQ V  

(OFRPHWHU$%0 (OFRPHWHU 
07
6DIHW\/DEHO(OFRPHWHU  0
 7
(OFRPHWHU 07.LWV&RQWDLQV(OFRPHWHU$%0:DUQLQJ/DEHO [ 3UHVVXULVHG
'HYLFH:DUQLQJ/DEHO [ 3LQFK3RLQW/DEHO [ (OFRPHWHU/RJR/DEHO [HQ

ZZZHOFRPHWHUFRPEODVWLQJ

5

352'8&729(59,(:7+($%5$6,9(%/$676<67(0/LIWLQJ/XJ V([KDXVW7
3RSXS5LQJ 6HDO
3RSXS9DOYH([KDXVW0DQLIROG
5HPRWH&RQWURO9DOYH&KRNH9DOYH
5&90DQLIROG
0RLVWXUH6HSDUDWRU%DOO9LEUDWLRQ)L[LQJ3ODWH$LU 5HPRWH&RQWURO/LQHV
3XVKHU/LQH$VVHPEO\
0DQLIROG3ODWH
0DLQ 6HFRQGDU\6XSSRUW:KHHOV

3RSXS3ODWH
3URGXFW,GHQWL¿FDWLRQ3ODWH'RRU+DWFK6HDO <RNH
$VVHPEO\%UHDWKH$LU)LOWHU)L[LQJ
3RLQW
3RW)ODQJH
0HGLD9DOYH
0L[HU7
3RW&RXSOLQJ)ORRU)L[LQJ3RLQW

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5



7(&+1,&$/63(&,),&$7,21

0D[LPXP:RUNLQJ
3UHVVXUH
0LQLPXP:RUNLQJ
3UHVVXUHD









    + + 6 6 +6 +6

EDU

EDU

EDU

EDU

EDU

EDU

EDU

EDU

SVLSVLSVLSVLSVLSVLSVLSVLEDUEDUEDUEDUEDUEDUEDUEDU

SVL

SVL

SVL

SVL

SVL

SVL

SVL

SVL

PP

PP

PP

PP

PP

PP

PP

PP

ô´

ò´

ò´

ò´

ò´

ò´

ò´

ò´

O

O

O

O

O

O

O

O

IW

IW

IW

IW

IW

IWIW

IW

PP

PP

PP

PP

PP

PP

PP

PP

















3LSH'LDPHWHU

9ROXPH DSSUR[LPDWH

9HVVHO'LDPHWHUDSSUR[LPDWHPP PP PP PP PP PP PP PP+HLJKW PD[LPXP
















PP

PP

PP

PP

PP

PP

PP

PP















NJ

NJ

NJ

NJ

NJ

NJ

NJ

NJ

OE

OE

OE

OE

OE

OE

OE

OE



NJ

NJ

NJ

NJ

NJ

NJ

NJOEOEOEOEOEOEOE

NJ

NJ

NJ

NJ

NJ

NJ

NJ

NJ

OE

OE

OE

OE

OEOEOEOE

NJ

NJ

NJ

NJ

NJ

NJ

NJNJ

OE

OE

OE

OE

OEOEOEOE

&

&

&

&

&

&

&

&

)

)

)

)

)

)

)

)

&

&

&

&

&

&

&

&

)

)

)

)

)

)

)

)

:LGWK PD[LPXPE:HLJKW  HPSW\

0D[LPXP/XJ/LIWLQJ:HLJKW$SSUR[LPDWH0HGLD&DSDFLW\*DUQHW$SSUR[LPDWH0HGLD&DSDFLW\6WHHO6KRW
0D[LPXP2SHUDWLQJ
7HPSHUDWXUH
0LQLPXP2SHUDWLQJ
7HPSHUDWXUH

D



E


0LQLPXPZRUNLQJSUHVVXUHRIWKHUHPRWHFRQWUROYDOYHZLWKGHDGPDQ¶VKDQGOHDQGP IW WZLQOLQHFRQWURO
KRVH
:KHQ¿WWHGZLWKDQ(OFRPHWHU*90HGLD9DOYH

HQ

ZZZHOFRPHWHUFRPEODVWLQJ

5

,167$//$7,21&+(&./,67 /2&$7,1*<285$%5$6,9(%/$670$&+,1(z
:KLOVWSRUWDEOH$%0¶VFDQEHZKHHOHGWRWKHEODVWORFDWLRQERWKSRUWDEOH$%0 VWDWLF$%0¶VPXVWRQO\EHOLIWHGXVLQJWKHOLIWLQJOXJVH\HVORFDWHGDWWKHWRSRIWKHSUHVVXUHYHVVHOz:KHQOLIWLQJWKH$%0RQO\XVHWKHOLIWLQJOXJVH\HVQHYHUDWWHPSWWRVWUDSWRDQ\RWKHUSDUWRIWKH$%0'LVFRQQHFWWKHDLUVXSSO\
DEUDVLYHEODVWDQGUHPRWHFRQWUROKRVHVSULRUWROLIWLQJz(QVXUHWKDWWKH$%0LVORFDWHGLQDVWDEOHSRVLWLRQLVOHYHODQGLQ
DQXSULJKWSRVLWLRQDQGLQRUGHUWRDYRLGPHGLDGDPDJHWRWKHFRPSUHVVRUGRZQZLQGRIWKHFRPSUHVVRU7KHFRPSUHVVRUVKRXOGQRWEHORFDWHGZLWKLQWKHEODVWDUHDz$VHFXULQJKROHLVORFDWHGRQWKHIURQWOHJSODWHVKRXOGWKH$%0
QHHGWREHIDVWHQHGWRWKHIORRURUDVWUXFWXUHz
3RVLWLRQWKH$%0VRWKDWWKHUHLVHDV\DFFHVVWRDOOSDUWVDQGWKDWLWLVHDV\DQGVDIHWRILOOZLWKDEUDVLYHPHGLD ($57+,1*<285$%5$6,9(%/$670$&+,1(z
$OO(OFRPHWHU$%0¶VKDYHDQXQFRDWHGDUHDRQWKHXQGHUVLGHRIWKHIURQWOHJSODWHZKLFKLVGHVLJQHGWRHDUWKWKH$%0GXULQJXVHz
6KRXOG\RXUHTXLUHDGGLWLRQDOHDUWKLQJDWWDFKWKHRSWLRQDO(OFRPHWHU$%0(DUWKLQJ:LUH VDOHVSDUWQXPEHU07 WR
WKH(OFRPHWHU$%0YLEUDWRUSODWHXVLQJWKHEROWSURYLGHGWDNLQJ
FDUHWRUHPRYHDQ\SDLQWIURPWKHWKUHDGRIWKHYLEUDWRUSODWH
6HHGLDJUDPEHORZz'2127FRQQHFWDQHDUWKLQJZLUHWRWKH$%0¶VFKDVVLVDVWKLVZLOOQRWJXDUDQWHHDQHOHFWULFDOFRQQHFWLRQ(DUWKLQJ:LUH&RQQHFWLRQ3RLQW

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5



,167$//$7,21&+(&./,67 FRQWLQXHG

 &2035(66('$,5 $,5&2035(66256,=(z
:KLOVWWKHDFWXDOEODVWLQJHIILFLHQF\JDLQVRUORVVHVDUH
GHSHQGHQWRQDQXPEHURIYDULDEOHVWKHPHGLDXVHGWKHEODVWQR]]OHW\SHDQGGLDPHWHUWKHKRVHVL]HFOLPDWLFYDULDEOHVHWF
DVDJHQHUDOUXOHEODVWLQJHIILFLHQF\GURSVDSSUR[LPDWHO\IRU
HYHU\SVLEHORZSVL EDU RIEODVWSUHVVXUHDWWKHEODVWQR]]OHï)RUH[DPSOHEODVWLQJDWSVL EDU FDQEH
PRUHHIILFLHQWWKDQEODVWLQJDWSVL EDU DQGEODVWLQJDWSVL EDU FDQLPSURYHEODVWLQJHIILFLHQF\E\XSWR
z
<RXUGHVLUHGEODVWLQJSURGXFWLYLW\GHWHUPLQHGE\WKHSUHVVXUHDWWKHQR]]OHZKLFKLQWXUQLVGHWHUPLQHGE\WKHVL]HRIWKHDLUFRPSUHVVRUZLOOGHWHUPLQHWKHDSSUR[LPDWHDLUFRQVXPSWLRQ LQ&)0 z
7KHPLQLPXPSUHVVXUHUHTXLUHGWRRSHUDWHWKH(OFRPHWHU$EUDVLYH%ODVW0DFKLQHLVLGHQWLILHGLQWKHWDEOHLQ6HFWLRQµ7HFKQLFDO6SHFLILFDWLRQ¶RQSDJHHQ&DUHPXVWEHWDNHQ
ZKHQLQVWDOOLQJDSUHVVXUHUHJXODWRU IRUORZSUHVVXUHEODVWLQJ ,I
EODVWLQJEHORZEDU SVL WKHDLUVXSSO\WRWKHGHDGPDQ¶V
FRQWUROVPXVWEHSRVLWLRQXSVWUHDPRIWKHSUHVVXUHUHJXODWRU &2035(66('$,56833/</,1(z'2127H[FHHGWKHPD[LPXPZRUNLQJSUHVVXUHRIWKH
(OFRPHWHU$EUDVLYH%ODVW0DFKLQHDWDQ\WLPH7KHPD[LPXPZRUNLQJSUHVVXUHLVFOHDUO\PDUNHGRQWKHSURGXFWLGHQWLILFDWLRQSODWHRQWKHIURQWRIWKHPDFKLQHDERYHWKHGRRUKDQGZD\DQG
UHIHUHQFHGLQWKHWDEOHLQ6HFWLRQµ7HFKQLFDO6SHFLILFDWLRQ¶RQ
SDJHHQz
2QO\XVH$%0FRPSRQHQWVWKDWDUHUDWHGWRWKLVZRUNLQJ
SUHVVXUH(OFRPHWHUDSSURYHGFRPSRQHQWVDUHUDWHGWRZRUNVDIHO\ZLWKDOO(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV &2035(66('$,548$/,7<z
0RLVWXUHDQGFRQWDPLQDWLRQZLWKLQWKHDLUVXSSO\FDQFDXVHDQ$EUDVLYH%ODVW0DFKLQHWRPDOIXQFWLRQDVPRLVWXUHZLWKLQWKHDLU
FDQEHDEVRUEHGE\WKHDEUDVLYHPHGLDZKLFKFDQOHDGWRSRRUPHGLDIORZEORFNDJHVDQGKDUGHQLQJRIWKHPHGLD$VXLWDEOH
EODVWV\VWHPPRLVWXUHUHPRYDOGHYLFHVKRXOGEHILWWHG

1DWLRQDO$VVRFLDWLRQRI&RUURVLRQ(QJLQHHUV 1$&(HQZZZHOFRPHWHUFRPEODVWLQJ

5

,167$//$7,21&+(&./,67 FRQWLQXHG

 3(5621$/3527(&7,21(48,30(17 33(z
6XLWDEOHDQGDSSURYHG33(VKRXOGEHXVHGE\DOOSHUVRQQHOZLWKLQWKHEODVWDUHDZKLFKVKRXOGLQFOXGHEXWQRWOLPLWHGWR
SURWHFWLYHFORWKLQJJORYHVH\HDQGHDUSURWHFWLRQDLUILOWUDWLRQDQGUHVSLUDWRUVDQGDLUTXDOLW\PRQLWRUVVXFKDVDFDUERQGLR[LGHPRQLWRU$UDQJHRI33(LVDYDLODEOHWRSXUFKDVHIURP(OFRPHWHU
RU\RXUORFDO(OFRPHWHUVXSSOLHUVHHZZZHOFRPHWHUFRPEODVWLQJ
IRUIXUWKHUGHWDLOVz
7RHQVXUHFOHDUFRPPXQLFDWLRQEHWZHHQWKHSHUVRQEODVWLQJ%ODVWHU DQGWKH$EUDVLYH%ODVW0DFKLQH7HQGHU 3RW7HQGHU DWDOOWLPHVHLWKHUDIRUPRIVLJQDOOLQJVKRXOGEHDJUHHGEHWZHHQ
ERWKSDUWLHVRUDFRPPXQLFDWLRQVV\VWHPVXFKDVDQLQKHOPHWFRPPXQLFDWLRQGHYLFHVKRXOGEHXVHG
 $%5$6,9(0(',$z
7RDYRLGEORFNDJHVDQGGDPDJLQJWKH$EUDVLYH%ODVW0DFKLQH
HQVXUHWKDWWKHDEUDVLYHPHGLDLVGU\DQGIUHHIURPGHEULV$
VLHYHDYDLODEOHWRSXUFKDVHIURP(OFRPHWHURU\RXUORFDO(OFRPHWHUVXSSOLHUVHHZZZHOFRPHWHUFRPEODVWLQJIRUIXUWKHUGHWDLOVFDQEHXVHGWRPLQLPL]HWKHULVNRIODUJHSDUWLFOHVDQG
ODUJHGHEULVIURPHQWHULQJWKH$%0z
7RDYRLGZDWHU UDLQ IURPHQWHULQJLQWRWKH$%0DOLGFDQDOVREH
XVHGVHHZZZHOFRPHWHUFRPEODVWLQJIRUIXUWKHUGHWDLOVz
7RDYRLGPRLVWXUHDEVRUSWLRQGRQRWOHDYHDEUDVLYHPHGLDLQWKH
$%0
z
6RPHDEUDVLYHPHGLDPD\UHTXLUHDVVLVWDQFHZLWKWKHIORZWKURXJKWKH$%07KH(OFRPHWHU$%0FDQEHILWWHGZLWKDQDLU
SRZHUHGEDOOYLEUDWLRQGHYLFH SDUWQXPEHU07RU
07IRU(OFRPHWHU ZKLFK³IOXLGL]HV´WKHPHGLDDQG
HQVXUHVHYHQIORZWKURXJKWKH$%0
z
7KH(OFRPHWHU$LU3RZHUHG%DOO9LEUDWLRQ'HYLFHLVTXLFNO\DWWDFKHGWRWKHYLEUDWLRQSODWHDWWKHUHDURIWKH(OFRPHWHU$EUDVLYH%ODVW0DFKLQH VFRQHXVLQJWKHEROWVVXSSOLHGZLWKWKH
XQLW1RWHLIXVLQJWKH(OFRPHWHU(DUWKLQJ:LUHHQVXUHWKDWWKH
ZLUHLVWKUHDGHGRQWRWKHORZHUEROWDQGWKDWDQ\FRDWLQJZLWKLQWKH$%0YLEUDWLQJSODWHORZHUWKUHDGLVUHPRYHGSULRUWRDWWDFKLQJWRWKHYLEUDWLRQGHYLFH

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5



,167$//$7,21&+(&./,67 FRQWLQXHG

 35(6685(5(/,()9$/9( 359
z$SUHVVXUHUHOLHIYDOYH 359 LVDVDIHW\YDOYHXVHGWROLPLWWKH
SUHVVXUHZLWKLQWKHV\VWHPDQGLVGHVLJQHGWRSURWHFWWKH
DEUDVLYHEODVWPDFKLQHIURPH[FHHGLQJLWVPD[LPXPZRUNLQJ
SUHVVXUH
z$359LVXVHGLQWKHEODVWV\VWHPIRUVDIHW\DQGLWLVWKH2ZQHU VUHVSRQVLELOLW\WRHQVXUHWKDWD359LVILWWHGZKLFKPHHWVWKHORFDOUHJXODWLRQVZKHUHWKH$%0LVWREHXVHGz
,IWKHFRPSUHVVHGDLUV\VWHPGRHVQRWDOUHDG\KDYHDVXLWDEOH
ORFDWLRQ(OFRPHWHU$%0VKDYHD359ORFDWLRQRQWKHDLUPDQLIROGEHORZWKH(OFRPHWHU5HPRWH&RQWURO9DOYH 5&9 

3UHVVXUH5HOLHI9DOYH/RFDWLRQHQZZZHOFRPHWHUFRPEODVWLQJ

5

86,1*$1(/&20(7(5$%0
5HDGDQGXQGHUVWDQGWKHVHRSHUDWLQJLQVWUXFWLRQVEHIRUHXVLQJWKLVPDFKLQH)DLOXUHWRIROORZRSHUDWLQJLQVWUXFWLRQVFRXOGUHVXOWLQ
GHDWKVHULRXVLQMXU\RUGDPDJHWRHTXLSPHQW

7KLVVHFWLRQVKRXOGEHUHDGDORQJVLGHWKH(OFRPHWHU$%0GUDZLQJV
LQ6HFWLRQRQSDJHHQ
 % ()25(6:,7&+,1*217+(&2035(66('$,56833/<
 (QVXUHWKDWWKHEODVWDUHDLVFOHDUO\PDUNHGQRXQDXWKRULVHG
SHUVRQQHODUHLQVLGHWKHEODVWDUHDDQGWKDWDOOSHUVRQQHOZLWKLQWKHEODVWDUHDDUHZHDULQJDOODSSURSULDWHSHUVRQDOSURWHFWLRQHTXLSPHQW 33( DQGWKDWDOO33(FLVLQJRRGZRUNLQJFRQGLWLRQ &KHFNWKHFRPSOHWHDEUDVLYHEODVWV\VWHPIURPWKHFRPSUHVVRUWRWKHEODVWQR]]OHWRHQVXUHWKDWDOOLWHPVDUHLQJRRGZRUNLQJRUGHUWKHUHDUHQROHDNVWKDWDOOKRVHFRQQHFWLRQVDUHFRQQHFWHG
SURSHUO\DQGWKDWHDFKDLURUEODVWKRVHFRXSOLQJJDVNHWLVILWWHG
FRUUHFWO\DQGLQJRRGZRUNLQJRUGHU (QVXUHWKDWDQDSSURSULDWHSUHVVXUHUHOLHIYDOYH 359 LVILWWHG
ZLWKLQWKHV\VWHP (QVXUHWKDWHDFKFRXSOLQJLVORFNHGZLWKDQDSSURSULDWHORFNLQJSLQDQGWKHZKLSFKHFNVDUHDWWDFKHG ( QVXUHWKDWWKHSRSXSYDOYHLVLQJRRGZRUNLQJRUGHULVSRVLWLRQHGFRUUHFWO\DQGWKDWWKHSRSXSJDVNHWLVILWWHGDQGLQ
JRRGFRQGLWLRQ7KHDOLJQPHQWRIWKHSRSXSYDOYHPD\KDYH
EHHQDIIHFWHGGXULQJWUDQVLW &KHFNWKDWWKHSRSXSSODWHLVLQSODFHDQGILUPO\DWWDFKHG ( QVXUHWKDWWKHKDQGZD\GRRUJDVNHWLVDWWDFKHGLQJRRGFRQGLWLRQDQGWKHKDQGZD\GRRUDVVHPEO\LVFORVHGDQGEROWHG
VHFXUHO\ZLWKWKH\RNHEULJLQWKHFRUUHFWSRVLWLRQ 2SHQWKHVDIHW\SHWFRFN UHGWDSKDQGOH ORFDWHGRQWKHUHPRWH
FRQWUROYDOYH 5&9 7KHYDOYHLVRSHQZKHQWKHUHGWDSKDQGOHLVLQOLQHZLWKWKHVLOYHUWDSERG\ &ORVHWKHGUDLQYDOYHORFDWHGDWWKHEDVHRIWKH5HPRWH&RQWURO
9DOYH 5&9 DLUPDQLIROG7KHYDOYHLVFORVHGZKHQWKH
EODFNWDSKDQGOHLVDWGHJUHHVWRWKHVLOYHUWDSERG\F$UDQJHRISHUVRQDOSURWHFWLRQHTXLSPHQWLVDYDLODEOHWRSXUFKDVHIURP(OFRPHWHURU\RXUORFDO(OFRPHWHUVXSSOLHUVHHZZZHOFRPHWHUFRPEODVWLQJIRUIXUWKHUGHWDLOVZZZHOFRPHWHUFRPEODVWLQJ

HQ

5



86,1*$1(/&20(7(5$%0 FRQWLQXHG

 2SHQWKHFKRNHYDOYHORFDWHGDERYHWKHSXVKHUOLQHVRWKDWWKH
RUDQJHKDQGOHRIWKHEDOOYDOYHLVLQOLQHZLWKWKHYDOYHERG\ (QVXUHWKDWWKHUHPRWHFRQWUROWZLQOLQHDLUKRVHVDUHFRUUHFWO\FRQQHFWHG
D  $WWKH$EUDVLYH%ODVW0DFKLQHL <HOORZKRVHLVFRQQHFWHGWRWKH\HOORZKRVHRQWKH$%0
PDQLIROGSODWH
LL *UHHQKRVHLVFRQQHFWHGWRWKHJUHHQKRVHRQWKH$%0
PDQLIROGSODWH
LLL ,IDSUHVVXUHUHJXODWRUKDVEHHQILWWHGWRWKH$%0WKH
EUHDWKHDLUILOWHUKRVH UHG PXVWEHFRQQHFWHGXSVWUHDPEHIRUH WKHSUHVVXUHUHJXODWRUDQGQRWWRWKHERWWRPRIWKH
5&9DLUPDQLIROG











E  $WWKHGHDGPDQ¶VUHPRWHFRQWUROKDQGOH '0+ 









L )RUWKH%ODFN%7\SH'0+ SDUWQXPEHU5&+%% *UHHQ
KRVH RUKRVHIURP5&9ORZHUFRQQHFWLRQSRLQW WR,1<HOORZKRVH RUKRVHWR5&9XSSHUFRQQHFWLRQSRLQW WR287
LL )RUWKH6LOYHU&7\SH'0+ SDUWQXPEHU5&+&% *UHHQ
KRVH RUKRVHIURP5&9ORZHUFRQQHFWLRQSRLQW WRULJKW\HOORZKRVH RUKRVHWR5&9XSSHUFRQQHFWLRQSRLQW WROHIW&$87,21,WLVYLWDOIRUWKHVDIHRSHUDWLRQRIWKH5&9WKDWWKH
'0+LVFRUUHFWO\FRQQHFWHG
 ,IXVLQJPRUHWKDQRQHOHQJWKRIUHPRWHFRQWUROKRVHHQVXUHWKDWDOOFRQQHFWLRQVDUHILWWHGFRUUHFWO\DQGDWWDFKHGWRWKHEODVWKRVHZLWKWDSHWRPLQLPLVHWKHULVNRIGDPDJHRUNLQNVRFFXUULQJGXULQJRSHUDWLRQ (QVXUHWKDWWKHUHDUHQRNLQNVRUWLJKWFXUYHVDORQJWKHOHQJWKRIEODVWDLURUUHPRWHFRQWUROKRVH1RWH7LJKWFXUYHVZLOOGUDPDWLFDOO\DIIHFWWKHOLIHWLPHRIWKHEODVWKRVHNLQNVLQWKHDLU
KRVHDQGWZLQOLQHUHPRWHFRQWUROKRVHZLOOVHYHUHO\DIIHFWWKH
SHUIRUPDQFHRIWKHDLUIORZ 0DNHVXUHWKDWWKHGHDGPDQ¶VUHPRWHFRQWUROKDQGOHLVILUPO\DWWDFKHGWRWKHEODVWKRVHMXVWEHKLQGWKHQR]]OHKROGHUDQGLVLQ
JRRGZRUNLQJRUGHUDQGWKDWWKHUXEEHUVHDOLQJJDVNHWLVFOHDQDQGIUHHRIGDPDJH5HSODFHWKHJDVNHWLIUHTXLUHG
ZZZHOFRPHWHUFRPEODVWLQJ
HQ

5



86,1*$1(/&20(7(5$%0 FRQWLQXHG

 (QVXUHWKDWWKHKDQGOHRIWKHGHDGPDQ¶VUHPRWHFRQWUROVSULQJV
RSHQIUHHO\ZKHQUHOHDVHG,ILWGRHVQRWUHSODFHWKHGHDGPDQ¶VUHPRWHFRQWUROKDQGOHEHIRUHXVH
 &KHFNWKDWWKHGHDGPDQ VKDQGOHUXEEHUSOXJLVLQJRRGZRUNLQJRUGHULILWLVGDPDJHGRUZRUQRXWUHSODFHLPPHGLDWHO\5HSODFHWKHUXEEHUSOXJLIUHTXLUHG
 &KHFNWKDWWKHEODVWQR]]OHLVLQJRRGFRQGLWLRQDQGLVQRW
EORFNHG0DNHVXUHWKDWWKHQR]]OHJDVNHWLVDOVRLQJRRGZRUNLQJRUGHUUHSODFHWKHJDVNHWLIQRW+DQGWLJKWHQWKHEODVWQR]]OHLQWR
WKHQR]]OHKROGHU
 6 (77,1*83$1'&+(&.,1*7+($,502,6785(6(3$5$725 ,)),77('  (YHQLIDQH[WHUQDOPRLVWXUHUHPRYDOGHYLFHVXFKDVWKH
(OFRPHWHU$LU'LVWULEXWLRQ0DQLIROGLVEHLQJXVHGLWLVEHQHILFLDOWRKDYHDVHFRQGDU\LQWHJUDWHGDLUPRLVWXUHVHSDUDWRUILWWHGSULRUWRWKH$EUDVLYH%ODVW0DFKLQH VUHPRWHFRQWUROYDOYH SDUWQXPEHU07  2QO\XVHDQLQWHJUDWHGDLUPRLVWXUHVHSDUDWRUZKLFKKDVDZRUNLQJSUHVVXUHUDWLQJHTXDOWRRUJUHDWHUWKDQWKHPD[LPXPZRUNLQJSUHVVXUHRIWKH$EUDVLYH%ODVW0DFKLQHLWVHOIVHH
6HFWLRQµ7HFKQLFDO6SHFLILFDWLRQ¶RQSDJHHQ(OFRPHWHUDSSURYHGPRLVWXUHVHSDUDWRUVKDYHDPD[LPXPZRUNLQJSUHVVXUH
RIEDU SVL  ,WLVLPSRUWDQWWKDWDQ\LQWHJUDWHGDLUPRLVWXUHVHSDUDWRUGRHVQRWUHVWULFWWKHDLUIORZE\UHGXFLQJWKHLQWHUQDOGLDPHWHURIWKH
SLSHZRUN
 %HIRUHVZLWFKLQJRQWKHFRPSUHVVHGDLUVXSSO\WRWKH$%0
LQVSHFWDQGFOHDQWKHPHWDOILOWHUHOHPHQWWRPD[LPLVHDLUIORZDFURVVWKHPRLVWXUHVHSDUDWRU
 7KHPRLVWXUHOHYHOVZLWKLQWKHPRLVWXUHVHSDUDWRUVKRXOGQHYHUUHDFKWKHHQGRIWKHHOHPHQWFRQH:KHQLQRSHUDWLRQWKHGUDLQYDOYHORFDWHGRQWKHERWWRPRIWKHPRLVWXUHVHSDUDWRUVKRXOGEH
DGMXVWHGVRDVWRJLYHDFRQVWDQWEXWVOLJKWEOHHGRIWKHDLUZDWHUYDSRU
7KH(OFRPHWHU,QWHJUDWHG$LU0RLVWXUH6HSDUDWRUGLDJUDPDQGVSDUHSDUWVFDQEHVHHQLQ$SSHQGL[%µ0RLVWXUH6HSDUDWRU¶RQSDJHHQZZZHOFRPHWHUFRPEODVWLQJ

HQ

5



86,1*$1(/&20(7(5$%0 FRQWLQXHG

 & +(&.,1*7+((;+$8676,/(1&(5(;+$8677$1'
(;+$8670$1,)2/'%HIRUHDQ\ZRUNRUPDLQWHQDQFHLVFDUULHGRXWRQDQ\SDUWRIWKH
$EUDVLYH%ODVW0DFKLQHWKH$%0PXVWEHIXOO\GHSUHVVXULVHG
DQGGLVFRQQHFWHGIURPWKHFRPSUHVVHGDLUVXSSO\
7RHQVXUHWKDWWKH$%0LVGHSUHVVXULVHGRSHQWKHUHGVDIHW\SHWFRFNRQWKH(OFRPHWHU5&95HPRWH&RQWURO9DOYHWKH
YDOYHLVRSHQZKHQWKHUHGKDQGOHLVLQOLQHZLWKWKHVLOYHUYDOYH
ERG\
$

( ;+$8676,/(1&(5(DFK(OFRPHWHU$EUDVLYH%ODVW0DFKLQH $%0 LVILWWHGZLWKDQ
H[KDXVWVLOHQFHUZKLFKLVGHVLJQHGWRUHGXFHWKHVRXQGPDGHZKHQWKH$%0LVGHSUHVVXUL]LQJ$VWKHDEUDVLYHPHGLDZLWKLQWKH$%0UHGXFHVDVPDOODPRXQWRIPHGLDZLOOPL[ZLWKWKH
H[KDXVWDLU ZKHQWKH$%0GHSUHVVXUL]HV DQGWKLVPL[RIDLUDQG
DEUDVLYHZLOOH[LWWKH$%0YLDWKHH[KDXVW
0XFKRIWKLVPHGLDZLOODFFXPXODWHZLWKLQWKHH[KDXVWVLOHQFHUDQGZLOOQHHGWREHUHPRYHGIURPWLPHWRWLPH
7RFOHDQRXWWKHH[KDXVWVLOHQFHUUHPRYHWKHEDVHSODWHIURPWKH
ERWWRPRIWKHH[KDXVWVLOHQFHUE\UHPRYLQJWKHERWWRPQXWV5HPRYHWKHVLOHQFHUPHVKIURPZLWKLQWKHH[KDXVWVLOHQFHUDQG
FOHDQ2QFHFOHDQUHLQVHUWWKHVLOHQFHUPHVKDQGUHDVVHPEOHWKH
H[KDXVWVLOHQFHUPDNLQJVXUHWKDWDOOWKHEDVHSODWHQXWVDUH
VHFXUHO\IDVWHQHG
)URPWLPHWRWLPHLWLVLPSRUWDQWWRDVVHVVWKHDPRXQWRILQWHUQDOZHDUWRWKHUHLQIRUFHGHOERZFRQQHFWLQJWKHH[KDXVWVLOHQFHUWRWKHH[KDXVWPDQLIROG SDUWQXPEHU07 7KLVLWHPLVSURQH
WRZHDUDWWKHORZHUSDUWRIWKHHOERZEHORZWKHUHLQIRUFHPHQW
DUHDDVDEUDVLYHPHGLDIORZVIURPWKHH[KDXVWPDQLIROGLQWRWKH
H[KDXVWVLOHQFHU5HSODFHDVUHTXLUHG

HQ

ZZZHOFRPHWHUFRPEODVWLQJ

5

86,1*$1(/&20(7(5$%0 FRQWLQXHG%( ;+$8677$VWKHDLUPHGLDPL[UXVKHVRXWRIWKH$%0H[KDXVWGXULQJGH
SUHVVXULVDWLRQWKHVDFULILFLDO([KDXVW71XWZLOOVORZO\EH
DEUDGHG7KLV([KDXVW71XWVKRXOGEHFKHFNHGDVSDUWRI\RXU
PDLQWHQDQFHSURJUDPDQGUHSODFHGLIZRUQ&$87,21:KHQFKHFNLQJRUUHSODFLQJWKH([KDXVW71XWPDNH
VXUHWKDWWKHQXWLVVHFXUHO\DQGWLJKWO\IDVWHQHGDQGVHDOHGZLWKDVXLWDEOHWKUHDGVHDOWDSHVXFKDV37)(&

( ;+$8670$1,)2/'
7KH([KDXVW0DQLIROGLVORFDWHGDWWKHWRSRIWKH(OFRPHWHU
5&95HPRWH&RQWURO9DOYHDQGLVGHVLJQHGWRFRQWUROWKH
H[KDXVWIORZIURPWKHDEUDVLYHEODVWPDFKLQHGXULQJGH
SUHVVXULVDWLRQ5HIHUWR$SSHQGL[$RQSDJHHQIRUGHWDLOVRIKRZWRLQVSHFWDQGDVVHVVWKHH[KDXVWPDQLIROGDQGKRZWRUHSODFHWKHUXEEHUGLDSKUDJPDVUHTXLUHG

 & +(&.,1*7+(386+(5/,1($66(0%/<0,;(57$1'$%5$6,9(0(7(5,1*9$/9( (DFK(OFRPHWHU$%0LVVXSSOLHGZLWKDSXVKHUOLQHKRVH VHH6HFWLRQµ(OFRPHWHU$%0'UDZLQJV 3DUWV/LVWV¶RQSDJH
HQ ZKLFKVXSSOLHVWKHFRPSUHVVHGDLUIURPWKHFRPSUHVVRUWR
WKHPL[HU7DQGRUPHWHULQJYDOYH$OO(OFRPHWHUSXVKHUOLQHV
FRPHZLWKVZDJHGKRVHGILWWLQJVDQGWKHSXVKHUOLQHDVVHPEO\KDVDPD[LPXPZRUNLQJSUHVVXUHRIEDU SVL 7KHKRVHDQGFRQQHFWLRQVVKRXOGEHLQVSHFWHGIRUGDPDJHDQGRUZHDUSULRUWRXVHDQGSHULRGLFDOO\WKHUHDIWHU,IGDPDJHGWKH3XVKHU
/LQHDVVHPEO\VKRXOGEHUHSODFHGEHIRUHXVH 7KH(OFRPHWHU0L[HU7 VHH6HFWLRQµ(OFRPHWHU$%0
'UDZLQJV 3DUWV/LVWV¶RQSDJHHQ FRQQHFWVWKH3XVKHU/LQH
$VVHPEO\WRWKHERWWRPRIWKH(OFRPHWHU*9DQG$*9UDQJHRIDEUDVLYHPHGLDYDOYHV0DQXIDFWXUHGIURPYHU\WRXJKPDFKLQHWRROVWHHOWKH(OFRPHWHU0L[HU7LVGHVLJQHGWRODVWDORQJWLPH
1HYHUWKHOHVVWKURXJKXVHWKHLQVLGHRIWKH0L[HU7ZLOOVORZO\ZHDUDVWKHDEUDVLYHDEUDGHVWKHVWHHO7KH0L[HU7VKRXOG
WKHUHIRUHEHDVVHVVHGIURPWLPHWRWLPHDQGUHSODFHGDVQHHGHGZZZHOFRPHWHUFRPEODVWLQJ

HQ

5



86,1*$1(/&20(7(5$%0 FRQWLQXHG

%HVWSUDFWLFHLVWRDVVHVVWKHZHDURQWKH(OFRPHWHU0L[HU7
HDFKWLPHWKH(OFRPHWHU*9RU$*9HOFR728*+OLQHULVEHLQJUHSODFHG,QRUGHUWRSURORQJWKHOLIHRIWKH0L[HU7DQGHYHQRXW
LWVZHDUVLPSO\URWDWHWKH0L[HU7,QDGGLWLRQLQRUGHUWR
HYHQRXWWKHZHDURQWKHSRWFRXSOLQJQLSSOHSHULRGLFDOO\WLJKWHQ
WKHKHDY\GXW\QLSSOHZKLFKMRLQVWKH0L[HU7WRWKHSRWFRXSOLQJ







1RWH0RUHDJJUHVVLYHDEUDVLYHPHGLDZLOOZHDUWKH0L[HU7IDVWHU7RFKHFNWKH
0L[HU7XQVFUHZDQGUHPRYHWKH3RW&RXSOLQJIURPWKH0L[HU7 VHH6HFWLRQ
µ(OFRPHWHU$%0'UDZLQJV 3DUWV/LVWVRQSDJHHQ DQGDVVHVVWKHLQWHUQDOZHDURIWKH0L[HU75HSODFHDVUHTXLUHG
7KH(OFRPHWHU$%0KDVEHHQGHVLJQHGWRZRUNZLWKDUDQJHRIDEUDVLYHPHWHULQJYDOYHVHDFKDEUDVLYHPHWHULQJYDOYHVKRXOG
EHFKHFNHGIRUZHDUDQGVHUYLFHGRUUHSODFHGDVUHTXLUHG L (OFRPHWHU*9$*9DQG0*9$EUDVLYH0HWHULQJ9DOYHVLQFRUSRUDWHWKHKDUGZHDULQJRUDQJHHOFR728*+
5XEEHU9DOYH/LQHUVZKLFKDUHXVHGWRSURWHFWWKHYDOYH
IURPGDPDJHDQGIDLOXUH7KHVHUXEEHUOLQHUVZLOOZHDURXW
RYHUWLPHDQGVKRXOGEHUHSODFHGEHIRUHDKROHLVZRUQWKURXJK7RFKHFNZKHQWKHOLQHUVKRXOGEHUHSODFHGFORVH
WKHPHWHULQJYDOYHXVLQJWKHRUDQJHWDSORFDWHGRQWKH
PHWHULQJYDOYHLIWKHWDSLVZLWKLQWKHUHGDUHDRQWKH
PHWHULQJVFDOHWKHQWKHUXEEHUOLQHUVKRXOGEHFKDQJHG
LPPHGLDWHO\3OHDVHUHIHUWR$SSHQGL[&6HFWLRQ&RQ
SDJHHQIRUIXUWKHULQIRUPDWLRQRQUHSODFLQJWKHYDOYH
OLQHU


LL 7KHZHDUSODWHORFDWHGZLWKLQWKH(OFRPHWHU)90HWHULQJ
9DOYHVZLOODOVRZHDURYHUWLPHWKHVHFDQDOVREHUHSODFHG3OHDVHUHIHUWR$SSHQGL['RQSDJHHQIRUIXUWKHULQIRUPDWLRQHQZZZHOFRPHWHUFRPEODVWLQJ

5

86,1*$1(/&20(7(5$%0 FRQWLQXHG

 & +2.(9$/9(
 7KHFKRNHYDOYHORFDWHGDERYHWKH3XVKHU/LQHVKRXOGUHPDLQLQWKHIXOO\RSHQSRVLWLRQGXULQJQRUPDORSHUDWLRQ7KHFKRNHYDOYHLVLQWKHRSHQSRVLWLRQZKHQWKHRUDQJHYDOYHKDQGOHLVLQ
OLQHZLWKWKHVLOYHUFKRNHYDOYHERG\ 7KHFKRNHYDOYHFDQEHXVHGWRUHPRYHDQ\UHVLGXDODEUDVLYH
UHPDLQLQJZLWKLQWKH$%0DQGWRKHOSXQEORFNWKHPHGLDYDOYH
:LWKWKHPHGLDYDOYHIXOO\RSHQFORVLQJWKHFKRNHYDOYHVOLJKWO\ZKHQWKHGHDGPDQ VKDQGOHLVFORVHGZLOOUHVWULFWWKHIORZRIDLUWKURXJKWKHEODVWKRVHZKLFKLQWXUQZLOOFUHDWHDGLIIHUHQWLDOSUHVVXUHDERYHDQGEHORZWKHPHWHULQJYDOYHIRUFLQJWKH
DEUDVLYHPHGLDWKURXJKWKHPHWHULQJYDOYH
 &211(&7,1*$%5($7+($,5),/7(5727+($%0 ,IXVLQJWKHEUHDWKHDLUVXSSO\IURPWKH$%0FRQQHFWWKHEUHDWKH
DLUVXSSO\KRVHWRWKHUHGKRVHRQWKH$%0SODWHDQGWKHDLUILOWHU
FRQQHFWLRQLQOLQHZLWKWKHPDQXIDFWXUHU VLQVWUXFWLRQV ,IXVLQJDSUHVVXUHUHJXODWRUZLWKLQWKH$%0WKHEUHDWKHDLUVXSSO\VKRXOGEHWDNHQIURPXSVWUHDPRIWKHSUHVVXUHUHJXODWRUHQVXULQJWKDWWKHPLQLPXPSUHVVXUH&)0IORZUHTXLUHGIRU
EUHDWKHDLUDVLGHQWLILHGLQWKHDLUIHGKHOPHWUHVSLUDWRUPDQXIDFWXUHU VLQVWUXFWLRQVLVDYDLODEOH
 2SHQWKHDLUVXSSO\YDOYHFRQQHFWHGWRWKHUHGDLUKRVHORFDWHG
RQWKHUHPRWHFRQWUROYDOYH 5&9 DLUPDQLIROG7KHYDOYHLV
RSHQZKHQWKHEODFNWDSKDQGOHLVLQOLQHZLWKWKHVLOYHUWDSERG\ 5HIHUWRWKHDLUIHGKHOPHWUHVSLUDWRUPDQXIDFWXUHU VLQVWUXFWLRQV
DVUHTXLUHG ),//,1*7+($%0:,7+$%5$6,9(0(',$&$87,21)DLOXUHWRFORVHWKHDEUDVLYHPHWHULQJYDOYHEHIRUH
ILOOLQJWKH$%0FRXOGUHVXOWLQWKHKRVHEHLQJIORRGHGZLWKDEUDVLYH&ORVHWKHDEUDVLYHPHWHULQJYDOYH(QVXUHWKDWWKH$%0¶VVDIHW\SHWFRFN UHGWDSKDQGOH ORFDWHGRQWKHUHPRWHFRQWUROYDOYH 5&9 LVRSHQ7KHYDOYHLVRSHQ
ZKHQWKHUHGWDSKDQGOHLVLQOLQHZLWKWKHVLOYHUWDSERG\7KLVYDOYHVKRXOGDOZD\VEHRSHQGXULQJDQ\PDQXDOILOOLQJSURFHVVWRDYRLGDFFLGHQWDOSUHVVXUL]DWLRQZZZHOFRPHWHUFRPEODVWLQJ

HQ

5










86,1*$1(/&20(7(5$%0 FRQWLQXHG
(QVXUHWKDWWKHVLHYHLVLQJRRGFRQGLWLRQDQGVHFXUHO\DWWDFKHG
0DNHVXUHWKDWWKHPHGLDLVGU\DQGIUHHIURPGHEULV&DUHIXOO\DQGLQDFFRUGDQFHZLWKKHDOWKDQGVDIHW\JXLGHOLQHVRQOLIWLQJKHDY\LWHPVILOOWKH$%0WKURXJKWKHVLHYH
,QRUGHUWRSURORQJWKHVHUYLFHOLIHRIWKHSRSXSYDOYHGRQRW
RYHUILOOWKH$%07KH$%0VKRXOGEHILOOHGWRMXVWEHORZWKH
ERWWRPRIWKHSRSXSYDOYH
)LWWKHOLGRQWRWKHWRSRIWKHVLHYHDQG$%0WRVWRSZDWHULQJUHVV
&ORVHWKH$%0¶VVDIHW\SHWFRFN UHGWDSKDQGOH ORFDWHGRQWKH
UHPRWHFRQWUROYDOYH 5&9 7KHYDOYHLVFORVHGZKHQWKH
UHGWDSKDQGOHLVDWGHJUHHVWRWKHVLOYHUWDSERG\'RQRWDOORZWKHDEUDVLYHPHGLDZLWKLQWKH$%0WRIDOOEHORZ
RIWKH$%0 VPD[LPXPFDSDFLW\DVWKLVFRXOGFDXVHH[FHVVLYH
DQGDYRLGDEOHFRPSRQHQWZHDUVHH6HFWLRQµ7HFKQLFDO
6SHFLILFDWLRQ¶RQSDJHHQ $'-867,1*7+(+(,*+72)7+(323833/$7((OFRPHWHU$%0VDUHILWWHGZLWKDSRSXSSODWHZKLFK

3URWHFWVWKH3RW7HQGHU RUDQ\RWKHUSHUVRQQHOLQFORVH
SUR[LPLW\ IURPIO\LQJDEUDVLYHZKLFKPD\EHUHVWLQJZLWKLQWKH
GLVKDWWKHWRSRIWKH$%0ZKLFKFDQEHWKURZQXSZKHQWKH
SRSXSYDOYHLVHQJDJHGGXULQJSUHVVXUL]DWLRQ

3URWHFWVWKHSRSXSYDOYHIURPEHLQJGDPDJHGGXULQJQRUPDORSHUDWLRQZKHQWKH$%0LVEHLQJKRSSHUIHG:KLOVWWKHW\SLFDODQJOHRIVOLGHWKHSRLQWDWZKLFKPHGLDIORZVRYHULWVHOILVGHJUHHVIURPWKHQRUPDOWKHDFWXDODQJOHRIVOLGHLV
GHSHQGHQWRQWKHPHGLDEHLQJXVHG,QRUGHUWRIDFLOLWDWHWKHUDSLGILOOLQJRIWKH$%0WKHSRSXSSODWHKHLJKWFDQEHDGMXVWHGWRDFFRPPRGDWHFKDQJHVLQWKHPHGLD VDQJOHRIVOLGHHQ

ZZZHOFRPHWHUFRPEODVWLQJ

5

86,1*$1(/&20(7(5$%0 FRQWLQXHG:$51,1*3LQFK3RLQW
7KH3RS8S3ODWHLV127DILQJHUSURWHFWLRQJXDUG
'XULQJSUHVVXULVDWLRQWKHSRSXSYDOYHZLOOUDSLGO\DQGIRUFLEO\FORVHDJDLQVWWKHDEUDVLYHSRSXSULQJZKLFKZLOOFDXVHVHULRXVLQMXU\LIREVWUXFWHG%HIRUHZRUNLQJQHDUWKHSRSXSYDOYHHQVXUHWKDWWKHFRPSUHVVHGDLULVGLVFRQQHFWHGWKH$%0LVIXOO\GHSUHVVXUL]HGDQGWKH$%0VVDIHW\SHWFRFN UHGWDSKDQGOH ORFDWHGRQWKHUHPRWHFRQWUROYDOYH 5&9 LV
RSHQ
7KHYDOYHLVRSHQZKHQWKHUHGWDSKDQGOHLVLQOLQHZLWKWKHVLOYHUWDSERG\

7KHSRSXSSODWHFDQEHVHWWRRQHRIKHLJKWVE\VLPSO\UHPRYLQJWKHFOLSVRQWRSRIWKHSLOODUVDQGDGMXVWLQJWKHSRVLWLRQRIWKHVSDFHUVUHODWLYHWRWKHSODWHLWVHOIZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

 86,1*$1(/&20(7(5$%0 FRQWLQXHG
 6:,7&+,1*217+(&2035(66('$,56833/<$1'
*(1(5$/23(5$7,21
 5HIHUULQJWRWKHDLUFRPSUHVVRUPDQXIDFWXUHU VLQVWUXFWLRQVHQVXUHWKDWWKHDLUFRPSUHVVRULVUHJXODWHGWRHQVXUHWKDWWKH
SUHVVXUHGRHVQRWH[FHHGWKHPD[LPXPZRUNLQJSUHVVXUHRIWKH
$%0
 &KHFNWKDWWKHDLUVXSSO\KRVHLVVHFXUHO\FRQQHFWHGDQG
DSSURSULDWHORFNLQJSLQVDQGZKLSFKHFNVDUHDWWDFKHGFRUUHFWO\ (QVXUHWKDWWKH$%0VVDIHW\SHWFRFN UHGWDSKDQGOH ORFDWHGRQWKHUHPRWHFRQWUROYDOYH 5&9 LVRSHQ7KHYDOYHLVRSHQ
ZKHQWKHUHGWDSKDQGOHLVLQOLQHZLWKWKHVLOYHUWDSERG\ 6ZLWFKRQWKHDLUFRPSUHVVRUDQGRSHQWKHRXWOHWYDOYHWRDOORZFRPSUHVVHGDLUWRIORZWRWKH$%0
 $GMXVWWKHGUDLQYDOYHORFDWHGRQWKHERWWRPRIWKHPRLVWXUHVHSDUDWRU LIILWWHG VRDVWRJLYHDFRQVWDQWEXWVOLJKWEOHHGRIWKH
DLUZDWHUYDSRU
 6ZLWFKRQWKHDLUVXSSO\WRWKHDLUIHGKHOPHWUHVSLUDWRUDQGFKHFNWKDWWKHFRUUHFWDPRXQWRIDLULVHQWHULQJLQWRWKHKHOPHW5HIHUWR
WKHKHOPHWPDQXIDFWXUHU VLQVWUXFWLRQVDVUHTXLUHG
 &KHFNWKDWDOOSHUVRQQHOZLWKLQWKHEODVWDUHDDUHZHDULQJDSSURSULDWH33(DQGLIVDIHWRGRVRFORVHWKHUHGVDIHW\SHWFRFNYDOYH UHGWDSKDQGOH ORFDWHGRQWKHUHPRWHFRQWUROYDOYH 5&9 7KHYDOYHLVFORVHGZKHQWKHUHGWDSKDQGOHLV
DWGHJUHHVWRWKHVLOYHUWDSERG\,QDQHPHUJHQF\RSHQLQJWKHUHGVDIHW\SHWFRFNYDOYHZLOO
GHSUHVVXUL]HWKH$%0






0DNHVXUHWKDWWKHFKRNHYDOYH RUDQJH(OFRPHWHUKDQGOH
ORFDWHGRQWKHEDOOYDOYHGLUHFWO\DERYHWKHSXVKHUKRVH LVIXOO\RSHQ7KHYDOYHLVRSHQZKHQWKHRUDQJHYDOYHKDQGOHLVLQOLQHZLWKWKHVLOYHUEDOOYDOYHERG\:LWKWKHPHGLDYDOYHFORVHGDQGWKHQR]]OHSRLQWHGDZD\IURP
DQ\SHUVRQRUORRVHREMHFWFORVHWKHGHDGPDQ VKDQGOH7KH
$%0ZLOOQRZSUHVVXULVHDQGWKHFRPSUHVVHGDLUZLOOQRZSDVVWKURXJKWKHQR]]OH
1RWH$VWKHDLULVXQGHUSUHVVXUHWKHDLUSDVVLQJWKURXJKWKHQR]]OHZLOOFDXVHDEDFNZDUGVIRUFHIRUWKHRSHUDWRU7KH%ODVW2SHUDWRUPXVWEH
UHDG\IRUWKLVDQGEHVWDQGLQJLQVXFKDZD\DVWRKROGWKHEDFNZDUGVIRUFHDQGEHKROGLQJWKHQR]]OHKROGHUDQGEODVWKRVHZLWKDILUPKROGHQZZZHOFRPHWHUFRPEODVWLQJ

5 86,1*$1(/&20(7(5$%0 FRQWLQXHG
 ,IQRDLUSDVVHVWKURXJKWKHQR]]OHWKHQUHOHDVHWKHGHDGPDQ V
KDQGOHWRGHSUHVVXULVHWKH$%0RSHQWKHUHGVDIHW\SHWFRFNVZLWFKRIIWKHDLUFRPSUHVVRUIHHGDQGZKHQVDIHWRGRVRFKHFNWKHFRPSOHWHV\VWHPIRUEORFNDJHVDQGEHJLQWKLVVHFWLRQ
6HFWLRQDJDLQ ,IDLULVSDVVLQJWKURXJKWKHQR]]OHUHOHDVLQJWKHGHDGPDQ V
KDQGOHZLOOQRZVWRSWKHDLUSDVVLQJWKURXJKWKHQR]]OH$VWKH
$%0GHSUHVVXULVHVWKURXJKWKHH[KDXVWDQGVLOHQFHULWLVLPSRUWDQWWKDWWKH3RW7HQGHUDQGDQ\RWKHUSHUVRQLQFORVH
SUR[LPLW\WRWKH$%0PXVWNHHSDZD\IURPWKH$%0H[KDXVWDQGVLOHQFHUDWDOOWLPHV $IWHUDQRWKHUFKHFNWRHQVXUHWKDWDOOSHUVRQQHOZLWKLQWKHEODVWDUHDDUHZHDULQJDSSURSULDWH33(DQGKDYHEHHQPDGHDZDUH
ILUPO\KROGWKHEODVWQR]]OHKROGHUDQGEODVWKRVHDGRSWWKH
DSSURSULDWHEODVWLQJVWDQFHDQGGLUHFWWKHEODVWQR]]OHWRZDUGVWKHZRUNVXUIDFH
 &ORVHWKHGHDGPDQ VKDQGOHDQGRQFHWKH$%0KDVSUHVVXULVHG
DQGDLULVSDVVLQJWKURXJKWKHQR]]OHWKH3RW7HQGHUVKRXOGQRZ
VORZO\RSHQWKHPHGLDYDOYHORFDWHGDWWKHERWWRPRIWKH$%0WR
DOORZWKHDEUDVLYHPHGLDIORZDQGPL[ZLWKWKHDLUIORZ &RPPXQLFDWLQJFOHDUO\ZLWKWKH%ODVW2SHUDWRUWKH3RW7HQGHUVKRXOGQRZDGMXVWWKHPHGLDYDOYHWRHQVXUHWKDWDPLQLPXPDPRXQWRIPHGLDLVIORZLQJWRHQVXUHDQHYHQDQGHIIHFWLYHEODVW:KHQXVLQJWKH(OFRPHWHU*90*9RU$*9WDNHQRWHRIWKH
PHGLDYDOYHSRVLWLRQXVLQJWKHVFDOHRQWKHPHGLDYDOYH7KLVZLOOKHOSIRUIXWXUHVHWWLQJV,IXVLQJWKH(OFRPHWHU)9RU0)9WKH
VWRSQXWFDQEHVHWWRWKHDSSURSULDWHSRVLWLRQIRUIXWXUHVHWWLQJV 7RVWRSEODVWLQJDWDQ\WLPHWKH%ODVW2SHUDWRUFDQVLPSO\UHOHDVHWKHGHDGPDQ VKDQGOHDQGRUWKH3RW7HQGHUFDQRSHQ
WKHUHGVDIHW\SHWFRFNRQWKHUHPRWHFRQWUROYDOYH 5&9 
1RWH,IXVLQJDPDQXDODEUDVLYHPHGLDYDOYHPHGLDZLOOFRQWLQXHWRIORZWKURXJKWKHYDOYHXQWLOWKHPHGLDYDOYHLVIXOO\FORVHG,IDQDXWRPDWLF
PHGLDYDOYH (OFRPHWHU$*9 LVEHLQJXVHGWKHQWKHPHGLDIORZZLOODXWRPDWLFDOO\VWRSDVWKHGHDGPDQ VKDQGOHLVUHOHDVHGZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

 86,1*$1(/&20(7(5$%0 FRQWLQXHG
6 +87'2:1352&('85( :KHQEODVWLQJKDVEHHQILQLVKHGRULVVWRSSHGIRUDSHULRGRI
WLPHFORVHWKHDEUDVLYHPHGLDYDOYHWKHQIROORZLQJDOORIWKH
DERYHVDIHW\DQGRSHUDWLRQDOSUHFDXWLRQVFORVHWKHGHDGPDQ V
KDQGOHWRSXUJHWKHV\VWHPRIDQ\UHVLGXDODEUDVLYHPHGLDZLWKLQWKHKRVH7KLVZLOOPLQLPLVHWKHFKDQFHVRIEORFNDJHV ,QRUGHUWRDYRLGDQ\XQQHFHVVDU\EORFNDJHVQRDEUDVLYHPHGLDVKRXOGEHOHIWLQWKH$%0IRUORQJSHULRGVRIWLPHDVPHGLDPD\
DEVRUEPRLVWXUHDQGREVWUXFWWKH$%07RUHPRYHDQ\UHVLGXDODEUDVLYHUHPDLQLQJZLWKLQWKH$%0VOLJKWO\FORVHWKHFKRNHYDOYH
ORFDWHGGLUHFWO\DERYHWKHSXVKHUOLQHDQGRSHQWKHPHWHULQJYDOYHIXOO\ WKLVZLOOUHVWULFWWKHIORZRIDLUWKURXJKWKHEODVWKRVHDQGIRUFHWKHDEUDVLYHWKURXJKWKHPHGLDYDOYH 1RZIROORZLQJDOORIWKHDERYHVDIHW\DQGRSHUDWLRQDOSUHFDXWLRQVFORVHWKH
GHDGPDQ VKDQGOHWRSXUJHWKHV\VWHP :KHQQRPRUHDEUDVLYHLVSDVVLQJWKURXJKWKHEODVWQR]]OHUHOHDVHWKHGHDGPDQ VKDQGOHRSHQWKHUHGVDIHW\SHWFRFNDQG
ZKHQWKH$%0KDVIXOO\GHSUHVVXULVHGDQGWKH2SHUDWRUWRJHWKHUZLWKDQ\RWKHUSHUVRQQHOZHDULQJDLUIHGKHOPHWVIHGIURPWKH
V\VWHPKDYHUHPRYHGWKHLUKHOPHWVVZLWFKRIIWKHDLUFRPSUHVVRU
 0DNLQJVXUHWKDWWKHV\VWHPKDVEHHQIXOO\GHSUHVVXULVHGDQG
WKHDLUFRPSUHVVRULVVZLWFKHGRIILWLVQRZVDIHWRGLVFRQQHFWDQ\KRVHV7 +(5(027(&21752/9$/9( 5&9$YDLODEOHLQWZRYHUVLRQV5&9DQG5&9WKH(OFRPHWHU
5HPRWH&RQWURO9DOYHLVRQHRIWKHPRVWLPSRUWDQWLWHPVRQWKH
$EUDVLYH%ODVW0DFKLQH7KH5&9ZKHQXVHGLQFRQMXQFWLRQZLWKWKHGHDGPDQ VKDQGOHDOORZVWKH%ODVWHUWRSUHVVXULVHDQG
GHSUHVVXULVHWKH$EUDVLYH%ODVW0DFKLQH7KURXJKWKHXVHRIWKHUHGSHWFRFNORFDWHGRQWKH5&9WKH3RW7HQGHUFDQDOVRHQVXUHWKH
VDIHW\RIDOOSHUVRQQHOZLWKLQWKHEODVWDUHD,WLVFUXFLDOWKHUHIRUHWKDWWKHUHPRWHFRQWUROYDOYHLVLQJRRGZRUNLQJRUGHUDWDOOWLPHVDQGLVUHJXODUO\VHUYLFHG
,IWKHTXDOLW\RIFRPSUHVVHGDLULVSRRUGHEULVDQGPRLVWXUHPD\VHWWOH
DWWKHERWWRPRIWKH5&97RUHPRYHVLPSO\RSHQWKHEODFN
5&9GUDLQYDOYHDQGFDUHIXOO\DQGVDIHO\WXUQWKHDLUVXSSO\RQ
WKHGHEULVZLOOEORZRXWWKHERWWRPRIWKHYDOYHZKHQWKHGHDGPDQ V
KDQGOHLVFORVHG
ZZZHOFRPHWHUFRPEODVWLQJ
HQ

5

 86,1*$1(/&20(7(5$%0 FRQWLQXHG
7KHEODFN5&9GUDLQYDOYHLVRSHQHGZKHQWKHEODFNWDSKDQGOH
LVLQOLQHZLWKWKHVLOYHUWDSERG\2QFHFOHDUFORVHWKHGUDLQYDOYH7KH
YDOYHLVFORVHGZKHQWKHEODFNWDSLVDWGHJUHHVWRWKHVLOYHUWDSERG\
1RWH7KHPLQLPXPRSHUDWLQJSUHVVXUHWRRSHUDWHWKH5&95HPRWH
&RQWURO9DOYHLVEDU SVL 7KHPLQLPXPRSHUDWLQJSUHVVXUHUHTXLUHGWRXVH
WKH'HDGPDQ VKDQGOHLVEDU SVL 

7RVHUYLFHDQGPDLQWDLQWKH(OFRPHWHU5&9SOHDVHUHIHUWR$SSHQGL[$RQSDJHHQZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

 &$5( 0$,17(1$1&(
7KLV$EUDVLYH%ODVW0DFKLQHKDVEHHQGHVLJQHGWREHVDIHZKHQ
XVHGLQWKHSURSHUPDQQHUDQ\SHUVRQLQWHQGLQJWRRSHUDWHRUVHUYLFHWKLV$EUDVLYH%ODVW0DFKLQHRUDQ\SHUVRQLQWHQGLQJWREHLQ
WKHYLFLQLW\RIWKLV$EUDVLYH%ODVW0DFKLQH0867UHFHLYHSURSHUWUDLQLQJIURPDIXOO\WUDLQHGDQGFRPSHWHQWVXSHUYLVRUHPSOR\HURU
VXSSOLHU%()25(XVH
1HYHUXVHGDPDJHGRUPDOIXQFWLRQLQJHTXLSPHQW,WLVWKHUHVSRQVLELOLW\RIWKH2ZQHUDQGRUWKH8VHUWRHQVXUHWKDWWKLV$%0LV
LQJRRGZRUNLQJRUGHUDWDOOWLPHVDQGLVSUHVVXUHWHVWHGHLWKHUE\K\GURVWDWLFRUSQHXPDWLFSURRILQJPHWKRGVDWLQWHUYDOVGHILQHGE\
5HJLRQ&RXQWU\&RXQW\3URYLQFHRU6WDWHODZV$SUHYHQWDWLYHPDLQWHQDQFHDQGLQVSHFWLRQVFKHGXOHVKRXOGEHLQ
SODFHWRHQVXUHWKDWWKLV$%0DQGDQ\SHUVRQDOSURWHFWLYHHTXLSPHQW
LVLQJRRGDQGVDIHZRUNLQJRUGHUDWDOOWLPHVDQGEHIRUHHDFKXVH
7KLV$EUDVLYH%ODVW0DFKLQHFRQWDLQVDSUHVVXULVHGYHVVHOZKLFKZLOOFRQWDLQDODUJHDPRXQWRIVWRUHGHQHUJ\ZKLFKFDQFDXVHVHULRXVLQMXU\RUGHDWKLIVDIHW\SURFHGXUHVDUHQRWIROORZHG'2127FDUU\RXWDQ\PDLQWHQDQFHRUDWWHPSWWRRSHQDQ\FRQQHFWLRQSRUWVRIWKLV
SUHVVXUHYHVVHOIRUDQ\UHDVRQZLWKRXWILUVWGHSUHVVXULVLQJWKHV\VWHPDQGGLVFRQQHFWLQJWKHFRPSUHVVHGDLUKRVH VRPHWLPHVUHIHUUHGWRDV
DEXOOKRVH IURPWKH$EUDVLYH%ODVW0DFKLQH
7KLVVHFWLRQ6HFWLRQLVDJXLGHDQGVKRXOGQRWUHSODFH\RXU
SUHYHQWDWLYHPDLQWHQDQFHDQGLQVSHFWLRQSURFHGXUHV,WVKRXOGEH
UHDGLQFRQMXQFWLRQZLWKDOOVHFWLRQVRIWKLVXVHUJXLGHHQ

ZZZHOFRPHWHUFRPEODVWLQJ

5&$5( 0$,17(1$1&( FRQWLQXHG

0$,17(1$1&(7$6.

)5(48(1&<$%0,QWHULRUDQG'RRU$VVHPEO\,QVSHFWLRQ:HHNO\(PSW\DQGLQVSHFWWKHLQVLGHRIWKH$%0VSUHVVXUHYHVVHO&RUURVLRQDQGHURVLRQFDQFDXVHSLWWLQJDQGUHGXFWLRQLQWKH
ZDOOWKLFNQHVVRIWKHSUHVVXUHYHVVHODQGWKHGRRUDVVHPEO\,IWKHZDOOWKLFNQHVVUHGXFHVE\PRUHWKDQWKHPLQLPXPDOORZDEOHFRUURVLRQDOORZDQFHWKLFNQHVV PP RULIH[FHVVLYHLQWHUQDOFRUURVLRQLVHYHUYLVLEOHWKH$%0VKRXOGEHUHPRYHGIURPVHUYLFHLPPHGLDWHO\DQG$%0VKRXOGEHUHWXUQHGWRDQDSSURYHGWHVWFHQWUHIRUDFRPSOHWHK\GURVWDWLF
WHVW
&KHFNDOOWKHLQWHUQDOSLSHILWWLQJVIRUZHDUSD\LQJSDUWLFXODUDWWHQWLRQWRWKHHOERZ5HSODFHDVUHTXLUHG&KHFNWKHGRRUVHDOLQJJDVNHWDQGUHSODFHLIZRUQRUGDPDJHG
9HVVHOLQWHJULW\SUHVVXUHWHVWLQJYLDSQHXPDWLFRUK\GURVWDWLFWHVWLQJPHWKRGV
1RWHWKH$%0PXVWEHFOHDQDQGGU\EHIRUHUHDVVHPEO\DV
PRLVWXUHDQGRUGHEULVFDQFDXVHHTXLSPHQWIDLOXUH
$%0([WHULRU'DPDJH,QVSHFWLRQ$VGHILQHGE\\RXU5HJLRQ&RXQWU\&RXQW\
3URYLQFHRU
6WDWHODZV:HHNO\'DPDJHFDXVHGE\GHQWVEXPSVFRUURVLRQHWFFDQPDNH
WKH$%0XQVDIHWRXVH,IPRUHWKDQFRVPHWLFGDPDJHWKH
$%0VKRXOGEHUHPRYHGIURPVHUYLFHLPPHGLDWHO\DQG
LQVSHFWHGE\DTXDOLILHGLQGLYLGXDODQGUHSDLUHGRUUHSODFHG
DVUHTXLUHG
3RS8S9DOYHDQG3RS8S6HDO5LQJ'DLO\:$51,1*WKLVLVDSLQFKSRLQWKD]DUG.HHSKDQGVDQG
ILQJHUVDZD\IURPWKLVDUHD'LVFRQQHFWWKHFRPSUHVVHGDLUVXSSO\EHIRUHXQGHUWDNLQJDQ\SRSXSYDOYHRUVHDOULQJ
DVVHVVPHQWRUPDLQWHQDQFH
&KHFNLQJWKHDOLJQPHQWRIWKHSRSXSYDOYHDQGSRSXSVHDOULQJUHTXLUHVWKHUHPRYDORIWKHSRSXSSODWH
&KHFNWKHLQWHJULW\RIWKHSRSXSVHDOIRUZHDURUGDPDJHUHSODFHDVUHTXLUHG
FRQWLQXHGZZZHOFRPHWHUFRPEODVWLQJ

HQ

5



&$5( 0$,17(1$1&( FRQWLQXHG

0$,17(1$1&(7$6.

)5(48(1&<3RS8S9DOYHDQG3RS8S6HDO5LQJ FRQWLQXHG'DLO\&KHFNWKHDOLJQPHQWRIWKHSRSXSYDOYHWRHQVXUHWKDWWKH
YDOYHLVFHQWUHGZLWKLQWKHDEUDVLYHLQOHW$GMXVWDVUHTXLUHG&KHFNWKDWWKHSRSXSYDOYHDQGVWHPDUHLQJRRGZRUNLQJRUGHUDQGQRWGDPDJHG5HSODFHDVUHTXLUHG
1RWH,WLVEHVWSUDFWLFHWRUHSODFHWKHYHUWLFDOSLSHWKDWKROGVWKHSRSXSYDOYHVWHPDWWKHVDPHWLPHDVWKHHOERZ%ODVWKRVHDLUKRVHFRQWUROOLQHVSXVKHUOLQH DOO
H[WHUQDOSLSHZRUNILWWLQJVFRXSOLQJVDQGJDVNHWVKRXUO\,QVSHFWDOOKRVHVDQGFRQWUROOLQHVIRUZHDNRUVRIWVSRWVDQG
DEUDVLRQUHSODFHDVQHHGHG
&KHFNDOOFRXSOLQJDQGQR]]OHJDVNHWVIRUOHDNVGDPDJHDQG
ZHDUUHSODFHDVUHTXLUHG
(QVXUHWKDWDOOFRXSOLQJVKDYHSLQVDQGZKLSFKHFNVDWWDFKHG
DQGWKDWWKH\DUHDOOLQJRRGZRUNLQJRUGHU
&KHFNDOOH[WHUQDOSLSHZRUNIRUOHDNVFUDFNVKROHVRURWKHUGDPDJHDQGUHSDLURUUHSODFHDVUHTXLUHG
%ODVW1R]]OHKRXUO\&KHFNWKDWWKHEODVWQR]]OHLVQRWGDPDJHG
5HPRYHWKHQR]]OHIURPWKHQR]]OHKROGHUDQGLQVSHFWWKH
QR]]OHKROGHUJDVNHWUHSODFHLIUHTXLUHG
&KHFNWKHEODVWQR]]OHERUHGLDPHWHUXVLQJDQR]]OHERUHJDXJHVXFKDVWKH(OFRPHWHU(IILFLHQF\LVUHGXFHGDVWKH
QR]]OHGLDPHWHULQFUHDVHV$VDUXOHRIWKXPEWKHEODVWQR]]OHVKRXOGEHUHSODFHGLIWKHQR]]OHGLDPHWHUKDVLQFUHDVHGE\
RQHQR]]OHRULILFHVL]HIRUH[DPSOHLID1R]]OH ´ ³EHFRPHV´D1R]]OH ´ ([KDXVW7([KDXVW0DQLIROGDQG6LOHQFHU'DLO\&KHFNWKHFRQGLWLRQRIWKHH[KDXVW7H[KDXVWPDQLIROG
VLOHQFHUDQGSLSHZRUNIRUGDPDJHDQGRUZHDU5HSODFHDV
QHFHVVDU\FRQWLQXHGHQ

ZZZHOFRPHWHUFRPEODVWLQJ

5&$5( 0$,17(1$1&( FRQWLQXHG

0$,17(1$1&(7$6.

)5(48(1&<([KDXVW7([KDXVW0DQLIROGDQG6LOHQFHU FRQWLQXHG'DLO\&KHFNWKHH[KDXVWVLOHQFHUDQGVLOHQFHUPHVKDUHFOHDQDQG
IUHHRIDEUDVLYH
([KDXVW71XW:HHNO\&KHFNWKHZHDURQWKH([KDXVW7QXWUHSODFHLIQHFHVVDU\&$87,21:KHQFKHFNLQJRUUHSODFLQJWKH([KDXVW71XWPDNHVXUHWKDWWKHQXWLVVHFXUHO\DQGWLJKWO\IDVWHQHGDQG
VHDOHGZLWKDVXLWDEOHWKUHDGVHDOWDSHVXFKDV37)(
'HDGPDQ¶V+DQGOH '0+

KRXUO\,QVSHFWWKHGHDGPDQ VKDQGOHIRUGDPDJHDQGWKDWLWVSULQJV
RSHQHDVLO\ZKHQUHOHDVHG5HSODFHDVUHTXLUHG
(QVXUHWKDWWKHUXEEHUEXQJLQVHUWLVLQSODFHDQGLVIUHHRIGDPDJHUHSODFHDVUHTXLUHG
$EUDVLYH0HWHULQJ9DOYH'DLO\

6DIHW\3HWFRFN9DOYH'DLO\

7KHUHGVDIHW\SHWFRFNYDOYHORFDWHGRQWKHVLGHRIWKH
5&9DQG5&95HPRWH&RQWURO9DOYHVLVGHVLJQHG
WRTXLFNO\GHSUHVVXULVHWKH$%0LQDQHPHUJHQF\,WLVFULWLFDOWKDWWKLVYDOYHLVLQIXOOZRUNLQJRUGHUDQGLVHDV\WRRSHQDWDOOWLPHV
,IWKHUHGVDIHW\SHWFRFNYDOYHLVGLIILFXOWWRRSHQZLWKWKH$%0
GHSUHVVXULVHGDQGGLVFRQQHFWHGIURPWKHFRPSUHVVRUDSSO\DVPDOODPRXQWRIJRRGTXDOLW\JUHDVHWKURXJKWKHYDOYH VH[LW
DV\RXDUHRSHQLQJDQGFORVLQJWKHYDOYH5HPRYHDOOH[FHVVJUHDVHIURPWKHRXWOHW,IWKHYDOYHUHPDLQVGLIILFXOWWRRSHQUHSODFHLPPHGLDWHO\
5HPRWH&RQWURO9DOYH 5&95&9

3HULRGLFDOO\RUDIWHUSURORQJHG
'XULQJWKHDVVHPEO\SURFHVVLQRUGHUWRSURORQJWKHOLIHRIWKH LQDFWLYHXVH
XQLWWKH5&92ULQJVDQGJDVNHWVDUHJUHDVHGZLWKOLWKLXPJUHDVHFRQWLQXHGZZZHOFRPHWHUFRPEODVWLQJ

HQ

5



&$5( 0$,17(1$1&( FRQWLQXHG

0$,17(1$1&(7$6.

)5(48(1&<5HPRWH&RQWURO9DOYH 5&95&9  FRQWLQXHG

3HULRGLFDOO\RUDIWHUSURORQJHG
LQDFWLYHXVH%HIRUHXVHRULIWKH$%0KDVEHHQLGOHIRUDORQJSHULRGRI
WLPHWKH5&9VKRXOGEHWDNHQDSDUWDQGWKH2ULQJVDQG
JDVNHWVVKRXOGEHUHJUHDVHGZLWKDJRRGTXDOLW\JUHDVH
0RLVWXUH6HSDUDWRU

3HULRGLFDOO\'XULQJRSHUDWLRQWKHPRLVWXUHVHSDUDWRUGUDLQYDOYHVKRXOG
EHVHWWRVSLW,IWKHFRPSUHVVHGDLUVXSSO\LVGLUW\LWPD\EH
QHFHVVDU\WRFOHDQWKHPRLVWXUHVHSDUDWRUDQGGUDLQYDOYH
3HUVRQDO3URWHFWLRQ(TXLSPHQW 33(

KRXUO\

33(PXVWEHILWIRUSXUSRVHDQGLQIXOOZRUNLQJRUGHUDWDOOWLPHV5HSODFHDQ\GDPDJHGRUZRUQRXWLWHPVLPPHGLDWHO\HQ

ZZZHOFRPHWHUFRPEODVWLQJ56HFWLRQ(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV'UDZLQJV 3DUWV/LVWV

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

 (/&20(7(5$%0'5$:,1*6 3$576/,676(/&20(7(53257$%/($%0











































































(OFRPHWHU0HGLD9DOYHV$SSHQGLFHV&DQG'







HQ





ZZZHOFRPHWHUFRPEODVWLQJ5 (/&20(7(5$%0'5$:,1*6 3$576/,676 FRQW(/&20(7(53257$%/($%0 FRQWLQXHG
,WHP



















































3DUW1XPEHU
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
0707
07
07
0707
0707
0707
07
07070707
0707
0707
07070707

'HVFULSWLRQ
3RS8S9DOYH
3RS8S6KDIWPP  /RQJ)HPDOH(TXDO(OERZò+H[1LSSOH
0RLVWXUH6HSDUDWRU VHH$SSHQGL[%RQSDJHHQò0DOH0DOH8QLRQ7DSHU6HDW
ó%XONKHDG&RQQHFWRU3DFNRI
7ZLQOLQH$LU+RVH$VVHPEO\ <HOORZ *UHHQ$LUOLQH$VVHPEO\ 5HG
3RS8S9DOYH25LQJ3DFNRI
3URWHFWLYH(GJLQJ6WULS PIW
6SULQJ&RWWHU3LQ7\SH(3DFNRI6KRUW'HÀHFWRU3ODWH6SDFHUPP  /RQJ3DFNRI
/RQJ'HÀHFWRU3ODWH6SDFHUPP  /RQJ3DFNRI
'HÀHFWRU3ODWH'HÀHFWRU3ODWH6KDIWPP  /RQJ3DFNRI
%DFNQXW UHFHVVHG)HPDOH)HPDOH8QLRQ7DSHU6HDW
+H[1LSSOH
([KDXVW7$VVHPEO\ FRPSOHWHZLWK07([KDXVW3OXJ
([KDXVW3OXJ
3LSHPP  /RQJ
6RFNHWWRô5HGXFLQJ%XVK
ô0DOH)HPDOH(TXDO8QLRQ7DSHU6HDW
ô3LSHPP  /RQJ
ô0DOH)HPDOH(OERZ
ô5HLQIRUFHG8QLRQ(OERZô+H[1LSSOH(OFRPHWHU5&95HPRWH&RQWURO9DOYH VHH$SSHQGL[$RQSDJHHQ
3HWFRFN9DOYH$VVHPEO\ 5HG+DQGOH
òWRô5HGXFLQJ%XVK
ô(TXDO3LWFKHU7
ô&KRNH9DOYH+DQGOH
ô&KRNH9DOYH$VVHPEO\ LQFOXGHV07&KRNH9DOYH+DQGOHô&RQH0DOH0DOH$GDSWRU
ó%DOO9DOYH$VVHPEO\ %ODFN+DQGOH
ó$LUOLQH%DOO9DOYH$VVHPEO\ %ODFN+DQGOH([KDXVW6LOHQFHU$VVHPEO\
3URWHFWLRQ*XDUG(OFRPHWHU,QVSHFWLRQ+DWFK'RRU(OFRPHWHU,QVSHFWLRQ+DWFK'RRU(OFR)LW6HDOLQJ*DVNHW(OFRPHWHU,QVSHFWLRQ+DWFK'RRU%ROW 0[PP(OFRPHWHU,QVSHFWLRQ+DWFK'RRU<RNH
0+H[DJRQDO)ODQJHG1XW
PP  'LDPHWHU:KHHO)ODW:DVKHU3DFNRI
6SOLW&RWWHU3LQ3DFNRI(OFRPHWHU5&9 3LSHZRUN$VVHPEO\6HUYLFH.LW FRQWDLQVLWHPVWR(OFRPHWHU$EUDVLYH%ODVW0DFKLQH6DIHW\/DEHO.LW

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

 (/&20(7(5$%0'5$:,1*6 3$576/,676 FRQW(/&20(7(53257$%/($%0








































































(OFRPHWHU0HGLD9DOYHV$SSHQGLFHV&DQG'







HQ





ZZZHOFRPHWHUFRPEODVWLQJ

5 (/&20(7(5$%0'5$:,1*6 3$576/,676 FRQW(/&20(7(53257$%/($%0 FRQWLQXHG
,WHP



















































3DUW1XPEHU
07
07
07
07
07
07
07
0707
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
0707
07
07
07
07
0707
07
07
07
070707
07
0707
0707
07070707

'HVFULSWLRQ
3RS8S9DOYH
3RS8S6KDIWPP  /RQJ)HPDOH(TXDO(OERZò+H[1LSSOH
0RLVWXUH6HSDUDWRU VHH$SSHQGL[%RQSDJHHQò0DOH0DOH8QLRQ7DSHU6HDW
ó%XONKHDG&RQQHFWRU3DFNRI
7ZLQOLQH$LU+RVH$VVHPEO\ <HOORZ *UHHQ$LUOLQH$VVHPEO\ 5HG
3RS8S9DOYH25LQJ3DFNRI
3URWHFWLYH(GJLQJ6WULS PIW
6SULQJ&RWWHU3LQ7\SH(3DFNRI6KRUW'HÀHFWRU3ODWH6SDFHUPP  /RQJ3DFNRI
/RQJ'HÀHFWRU3ODWH6SDFHUPP  /RQJ3DFNRI
'HÀHFWRU3ODWH'HÀHFWRU3ODWH6KDIWPP  /RQJ3DFNRI
%DFNQXW UHFHVVHG)HPDOH)HPDOH8QLRQ7DSHU6HDW
+H[1LSSOH
([KDXVW7$VVHPEO\ FRPSOHWHZLWK07([KDXVW3OXJ
([KDXVW3OXJ
3LSHPP  /RQJ
6RFNHW
0DOH)HPDOH(TXDO8QLRQ7DSHU6HDW
3LSHPP  /RQJ
0DOH)HPDOH(OERZWRò5HGXFLQJ%XVK
ô5HLQIRUFHG8QLRQ(OERZô+H[1LSSOH(OFRPHWHU5&95HPRWH&RQWURO9DOYH VHH$SSHQGL[$RQSDJHHQ
3HWFRFN9DOYH$VVHPEO\ 5HG+DQGOHò0DOH)HPDOH(TXDO8QLRQ7DSHU6HDW
ò(TXDO3LWFKHU7
ò&KRNH9DOYH+DQGOH
ò&KRNH9DOYH$VVHPEO\ LQFOXGHV07&KRNH9DOYH+DQGOHò&RQH0DOH0DOH$GDSWRU
ó%DOO9DOYH$VVHPEO\ %ODFN+DQGOH
ó$LUOLQH%DOO9DOYH$VVHPEO\ %ODFN+DQGOH([KDXVW6LOHQFHU$VVHPEO\
3URWHFWLRQ*XDUG(OFRPHWHU,QVSHFWLRQ+DWFK'RRU(OFRPHWHU,QVSHFWLRQ+DWFK'RRU(OFR)LW6HDOLQJ*DVNHW(OFRPHWHU,QVSHFWLRQ+DWFK'RRU%ROW 0[PP(OFRPHWHU,QVSHFWLRQ+DWFK'RRU<RNH
0+H[DJRQDO)ODQJHG1XW
PP  'LDPHWHU:KHHO)ODW:DVKHU3DFNRI
6SOLW&RWWHU3LQ3DFNRI(OFRPHWHU5&9 3LSHZRUN$VVHPEO\6HUYLFH.LW FRQWDLQVLWHPVWR(OFRPHWHU$EUDVLYH%ODVW0DFKLQH6DIHW\/DEHO.LW

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

 (/&20(7(5$%0'5$:,1*6 3$576/,676 FRQW(/&20(7(53257$%/($%0







































































(OFRPHWHU0HGLD9DOYHV$SSHQGLFHV&DQG'







HQ





ZZZHOFRPHWHUFRPEODVWLQJ

5 (/&20(7(5$%0'5$:,1*6 3$576/,676 FRQW(/&20(7(53257$%/($%0 FRQWLQXHG
,WHP



















































3DUW1XPEHU
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
0707
07
07
07
07
0707
07
07
07
070707
07
0707
0707
07070707

'HVFULSWLRQ
3RS8S9DOYH
3RS8S6KDIWPP  /RQJ)HPDOH(TXDO(OERZò+H[1LSSOH
0RLVWXUH6HSDUDWRU VHH$SSHQGL[%RQSDJHHQò0DOH0DOH8QLRQ7DSHU6HDW
ó%XONKHDG&RQQHFWRU3DFNRI
7ZLQOLQH$LU+RVH$VVHPEO\ <HOORZ *UHHQ$LUOLQH$VVHPEO\ 5HG
3RS8S9DOYH25LQJ3DFNRI
3URWHFWLYH(GJLQJ6WULS PIW
6SULQJ&RWWHU3LQ7\SH(3DFNRI6KRUW'HÀHFWRU3ODWH6SDFHUPP  /RQJ3DFNRI
/RQJ'HÀHFWRU3ODWH6SDFHUPP  /RQJ3DFNRI
'HÀHFWRU3ODWH'HÀHFWRU3ODWH6KDIWPP  /RQJ3DFNRI
%DFNQXW UHFHVVHG)HPDOH)HPDOH8QLRQ7DSHU6HDW
+H[1LSSOH
([KDXVW7$VVHPEO\ FRPSOHWHZLWK07([KDXVW3OXJ
([KDXVW3OXJ
3LSHPP  /RQJ
6RFNHW
0DOH)HPDOH(TXDO8QLRQ7DSHU6HDW
3LSHPP  /RQJ
0DOH)HPDOH(OERZWRò5HGXFLQJ%XVK
ô5HLQIRUFHG8QLRQ(OERZô+H[1LSSOH(OFRPHWHU5&95HPRWH&RQWURO9DOYH VHH$SSHQGL[$RQSDJHHQ
3HWFRFN9DOYH$VVHPEO\ 5HG+DQGOHò0DOH)HPDOH(TXDO8QLRQ7DSHU6HDW
ò(TXDO3LWFKHU7
ò&KRNH9DOYH+DQGOH
ò&KRNH9DOYH$VVHPEO\ LQFOXGHV07&KRNH9DOYH+DQGOHò&RQH0DOH0DOH$GDSWRU
ó%DOO9DOYH$VVHPEO\ %ODFN+DQGOH
ó$LUOLQH%DOO9DOYH$VVHPEO\ %ODFN+DQGOH([KDXVW6LOHQFHU$VVHPEO\
3URWHFWLRQ*XDUG(OFRPHWHU,QVSHFWLRQ+DWFK'RRU(OFRPHWHU,QVSHFWLRQ+DWFK'RRU(OFR)LW6HDOLQJ*DVNHW(OFRPHWHU,QVSHFWLRQ+DWFK'RRU%ROW 0[PP(OFRPHWHU,QVSHFWLRQ+DWFK'RRU<RNH
0+H[DJRQDO)ODQJHG1XW
PP  'LDPHWHU:KHHO)ODW:DVKHU3DFNRI
6SOLW&RWWHU3LQ3DFNRI(OFRPHWHU5&9 3LSHZRUN$VVHPEO\6HUYLFH.LW FRQWDLQVLWHPVWR(OFRPHWHU$EUDVLYH%ODVW0DFKLQH6DIHW\/DEHO.LW

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

 (/&20(7(5$%0'5$:,1*6 3$576/,676 FRQW(/&20(7(53257$%/($%0







































































(OFRPHWHU0HGLD9DOYHV$SSHQGLFHV&DQG'







HQ





ZZZHOFRPHWHUFRPEODVWLQJ

5 (/&20(7(5$%0'5$:,1*6 3$576/,676 FRQW(/&20(7(53257$%/($%0 FRQWLQXHG
,WHP



















































3DUW1XPEHU
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
0707
07
07
07
07
0707
07
07
07
070707
07
0707
0707
07070707

'HVFULSWLRQ
3RS8S9DOYH
3RS8S6KDIWPP  /RQJ)HPDOH(TXDO(OERZò+H[1LSSOH
0RLVWXUH6HSDUDWRU VHH$SSHQGL[%RQSDJHHQò0DOH0DOH8QLRQ7DSHU6HDW
ó%XONKHDG&RQQHFWRU3DFNRI
7ZLQOLQH$LU+RVH$VVHPEO\ <HOORZ *UHHQ$LUOLQH$VVHPEO\ 5HG
3RS8S9DOYH25LQJ3DFNRI
3URWHFWLYH(GJLQJ6WULS PIW
6SULQJ&RWWHU3LQ7\SH(3DFNRI6KRUW'HÀHFWRU3ODWH6SDFHUPP  /RQJ3DFNRI
/RQJ'HÀHFWRU3ODWH6SDFHUPP  /RQJ3DFNRI
'HÀHFWRU3ODWH'HÀHFWRU3ODWH6KDIWPP  /RQJ3DFNRI
%DFNQXW UHFHVVHG)HPDOH)HPDOH8QLRQ7DSHU6HDW
+H[1LSSOH
([KDXVW7$VVHPEO\ FRPSOHWHZLWK07([KDXVW3OXJ
([KDXVW3OXJ
3LSHPP  /RQJ
6RFNHW
0DOH)HPDOH(TXDO8QLRQ7DSHU6HDW
3LSHPP  /RQJ
0DOH)HPDOH(OERZWRò5HGXFLQJ%XVK
ô5HLQIRUFHG8QLRQ(OERZô+H[1LSSOH(OFRPHWHU5&95HPRWH&RQWURO9DOYH VHH$SSHQGL[$RQSDJHHQ
3HWFRFN9DOYH$VVHPEO\ 5HG+DQGOHò0DOH)HPDOH(TXDO8QLRQ7DSHU6HDW
ò(TXDO3LWFKHU7
ò&KRNH9DOYH+DQGOH
ò&KRNH9DOYH$VVHPEO\ LQFOXGHV07&KRNH9DOYH+DQGOHò&RQH0DOH0DOH$GDSWRU
ó%DOO9DOYH$VVHPEO\ %ODFN+DQGOH
ó$LUOLQH%DOO9DOYH$VVHPEO\ %ODFN+DQGOH([KDXVW6LOHQFHU$VVHPEO\
3URWHFWLRQ*XDUG(OFRPHWHU,QVSHFWLRQ+DWFK'RRU(OFRPHWHU,QVSHFWLRQ+DWFK'RRU(OFR)LW6HDOLQJ*DVNHW(OFRPHWHU,QVSHFWLRQ+DWFK'RRU%ROW 0[PP(OFRPHWHU,QVSHFWLRQ+DWFK'RRU<RNH
0+H[DJRQDO)ODQJHG1XW
PP  'LDPHWHU:KHHO)ODW:DVKHU3DFNRI
6SOLW&RWWHU3LQ3DFNRI(OFRPHWHU5&9 3LSHZRUN$VVHPEO\6HUYLFH.LW FRQWDLQVLWHPVWR(OFRPHWHU$EUDVLYH%ODVW0DFKLQH6DIHW\/DEHO.LW

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

 (/&20(7(5$%0'5$:,1*6 3$576/,676 FRQW(/&20(7(53257$%/($%0








































































(OFRPHWHU0HGLD9DOYHV$SSHQGLFHV&DQG'













HQ



ZZZHOFRPHWHUFRPEODVWLQJ

5 (/&20(7(5$%0'5$:,1*6 3$576/,676 FRQW(/&20(7(53257$%/($%0 FRQWLQXHG
,WHP





















































3DUW1XPEHU
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
0707
07
07
07
07
07
0707
07
07
07
070707
07
0707
070707
07
070707

'HVFULSWLRQ
3RS8S9DOYH
3RS8S6KDIWPP  /RQJ)HPDOH(TXDO(OERZò+H[1LSSOH
0RLVWXUH6HSDUDWRU VHH$SSHQGL[%RQSDJHHQò0DOH0DOH8QLRQ7DSHU6HDW
ó%XONKHDG&RQQHFWRU3DFNRI
7ZLQOLQH$LU+RVH$VVHPEO\ <HOORZ *UHHQ$LUOLQH$VVHPEO\ 5HG
3RS8S9DOYH25LQJ3DFNRI
3URWHFWLYH(GJLQJ6WULS PIW
6SULQJ&RWWHU3LQ7\SH(3DFNRI6KRUW'HÀHFWRU3ODWH6SDFHUPP  /RQJ3DFNRI
/RQJ'HÀHFWRU3ODWH6SDFHUPP  /RQJ3DFNRI
'HÀHFWRU3ODWH'HÀHFWRU3ODWH6KDIWPP  /RQJ3DFNRI
%DFNQXW UHFHVVHG)HPDOH)HPDOH8QLRQ7DSHU6HDW
+H[1LSSOH
([KDXVW7$VVHPEO\ FRPSOHWHZLWK07([KDXVW3OXJ
([KDXVW3OXJ
3LSHPP  /RQJ
6RFNHW
0DOH)HPDOH(TXDO8QLRQ7DSHU6HDW
3LSHPP  /RQJ
0DOH)HPDOH(OERZWRò5HGXFLQJ%XVK
ô5HLQIRUFHG8QLRQ(OERZô+H[1LSSOH(OFRPHWHU5&95HPRWH&RQWURO9DOYH VHH$SSHQGL[$RQSDJHHQ
3HWFRFN9DOYH$VVHPEO\ 5HG+DQGOHò0DOH)HPDOH(TXDO8QLRQ7DSHU6HDWò3LSHPP  /RQJ
ò(TXDO3LWFKHU7
ò&KRNH9DOYH+DQGOH
ò&KRNH9DOYH$VVHPEO\ LQFOXGHV07&KRNH9DOYH+DQGOHò&RQH0DOH0DOH$GDSWRU
ó%DOO9DOYH$VVHPEO\ %ODFN+DQGOH
ó$LUOLQH%DOO9DOYH$VVHPEO\ %ODFN+DQGOH([KDXVW6LOHQFHU$VVHPEO\
3URWHFWLRQ*XDUG(OFRPHWHU,QVSHFWLRQ+DWFK'RRU(OFRPHWHU,QVSHFWLRQ+DWFK'RRU(OFR)LW6HDOLQJ*DVNHW(OFRPHWHU,QVSHFWLRQ+DWFK'RRU%ROW 0[PP(OFRPHWHU,QVSHFWLRQ+DWFK'RRU<RNH
0+H[DJRQDO)ODQJHG1XW)ODW:DVKHU3DFNRIPP  'LDPHWHU:KHHO
PP  'LDPHWHU:KHHO
6SOLW&RWWHU3LQ3DFNRI(OFRPHWHU5&9 3LSHZRUN$VVHPEO\6HUYLFH.LW FRQWDLQV,WHPVWR(OFRPHWHU$EUDVLYH%ODVW0DFKLQH6DIHW\/DEHO.LW

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

 (/&20(7(5$%0'5$:,1*6 3$576/,676 FRQW(/&20(7(53257$%/($%0













































































(OFRPHWHU0HGLD9DOYHV$SSHQGLFHV&DQG'













HQ





ZZZHOFRPHWHUFRPEODVWLQJ

5 (/&20(7(5$%0'5$:,1*6 3$576/,676 FRQW(/&20(7(53257$%/($%0 FRQWLQXHG
,WHP





















































3DUW1XPEHU
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
0707
07
07
07
07
07
0707
07
07
07
070707
07
0707
070707
07
070707

'HVFULSWLRQ
3RS8S9DOYH
3RS8S6KDIWPP  /RQJ)HPDOH(TXDO(OERZò+H[1LSSOH
0RLVWXUH6HSDUDWRU VHH$SSHQGL[%RQSDJHHQò0DOH0DOH8QLRQ7DSHU6HDW
ó%XONKHDG&RQQHFWRU3DFNRI
7ZLQOLQH$LU+RVH$VVHPEO\ <HOORZ *UHHQ$LUOLQH$VVHPEO\ 5HG
3RS8S9DOYH25LQJ3DFNRI
3URWHFWLYH(GJLQJ6WULS PIW
6SULQJ&RWWHU3LQ7\SH(3DFNRI6KRUW'HÀHFWRU3ODWH6SDFHUPP  /RQJ3DFNRI
/RQJ'HÀHFWRU3ODWH6SDFHUPP  /RQJ3DFNRI
'HÀHFWRU3ODWH'HÀHFWRU3ODWH6KDIWPP  /RQJ3DFNRI
%DFNQXW UHFHVVHG)HPDOH)HPDOH8QLRQ7DSHU6HDW
+H[1LSSOH
([KDXVW7$VVHPEO\ FRPSOHWHZLWK07([KDXVW3OXJ
([KDXVW3OXJ
3LSHPP  /RQJ
6RFNHW
0DOH)HPDOH(TXDO8QLRQ7DSHU6HDW
3LSHPP  /RQJ
0DOH)HPDOH(OERZWRò5HGXFLQJ%XVK
ô5HLQIRUFHG8QLRQ(OERZô+H[1LSSOH(OFRPHWHU5&95HPRWH&RQWURO9DOYH VHH$SSHQGL[$RQSDJHHQ
3HWFRFN9DOYH$VVHPEO\ 5HG+DQGOHò0DOH)HPDOH(TXDO8QLRQ7DSHU6HDWò3LSHPP  /RQJ
ò(TXDO3LWFKHU7
ò&KRNH9DOYH+DQGOH
ò&KRNH9DOYH$VVHPEO\ LQFOXGHV07&KRNH9DOYH+DQGOHò&RQH0DOH0DOH$GDSWRU
ó%DOO9DOYH$VVHPEO\ %ODFN+DQGOH
ó$LUOLQH%DOO9DOYH$VVHPEO\ %ODFN+DQGOH([KDXVW6LOHQFHU$VVHPEO\
3URWHFWLRQ*XDUG(OFRPHWHU,QVSHFWLRQ+DWFK'RRU(OFRPHWHU,QVSHFWLRQ+DWFK'RRU(OFR)LW6HDOLQJ*DVNHW(OFRPHWHU,QVSHFWLRQ+DWFK'RRU%ROW 0[PP(OFRPHWHU,QVSHFWLRQ+DWFK'RRU<RNH
0+H[DJRQDO)ODQJHG1XW)ODW:DVKHU3DFNRIPP  'LDPHWHU:KHHO
PP  'LDPHWHU:KHHO
6SOLW&RWWHU3LQ3DFNRI(OFRPHWHU5&9 3LSHZRUN$VVHPEO\6HUYLFH.LW FRQWDLQV,WHPVWR(OFRPHWHU$EUDVLYH%ODVW0DFKLQH6DIHW\/DEHO.LW

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

 (/&20(7(5$%0'5$:,1*6 3$576/,676 FRQW(/&20(7(5++,*+35(6685(3257$%/($%0







































































(OFRPHWHU0HGLD9DOYHV$SSHQGLFHV&DQG'







HQ





ZZZHOFRPHWHUFRPEODVWLQJ

5 (/&20(7(5$%0'5$:,1*6 3$576/,676 FRQW(/&20(7(5++,*+35(6685(3257$%/($%0 FRQW
,WHP



















































3DUW1XPEHU
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
0707
07
07
07
07
0707
07
07
07
070707
07
0707
0707
07070707

'HVFULSWLRQ
3RS8S9DOYH
3RS8S6KDIWPP  /RQJ)HPDOH(TXDO(OERZò+H[1LSSOH
0RLVWXUH6HSDUDWRU VHH$SSHQGL[%RQSDJHHQò0DOH0DOH8QLRQ7DSHU6HDW
ó%XONKHDG&RQQHFWRU3DFNRI
7ZLQOLQH$LU+RVH$VVHPEO\ <HOORZ *UHHQ$LUOLQH$VVHPEO\ 5HG
3RS8S9DOYH25LQJ3DFNRI
3URWHFWLYH(GJLQJ6WULS PIW
6SULQJ&RWWHU3LQ7\SH(3DFNRI6KRUW'HÀHFWRU3ODWH6SDFHUPP  /RQJ3DFNRI
/RQJ'HÀHFWRU3ODWH6SDFHUPP  /RQJ3DFNRI
'HÀHFWRU3ODWH'HÀHFWRU3ODWH6KDIWPP  /RQJ3DFNRI
%DFNQXW UHFHVVHG)HPDOH)HPDOH8QLRQ7DSHU6HDW
+H[1LSSOH
([KDXVW7$VVHPEO\ FRPSOHWHZLWK07([KDXVW3OXJ
([KDXVW3OXJ
3LSHPP  /RQJ
6RFNHW
0DOH)HPDOH(TXDO8QLRQ7DSHU6HDW
3LSHPP  /RQJ
0DOH)HPDOH(OERZWRò5HGXFLQJ%XVK
ô5HLQIRUFHG8QLRQ(OERZô+H[1LSSOH(OFRPHWHU5&95HPRWH&RQWURO9DOYH VHH$SSHQGL[$RQSDJHHQ
3HWFRFN9DOYH$VVHPEO\ 5HG+DQGOHò0DOH)HPDOH(TXDO8QLRQ7DSHU6HDW
ò(TXDO3LWFKHU7
ò&KRNH9DOYH+DQGOH
ò&KRNH9DOYH$VVHPEO\ LQFOXGHV07&KRNH9DOYH+DQGOHò&RQH0DOH0DOH$GDSWRU
ó%DOO9DOYH$VVHPEO\ %ODFN+DQGOH
ó$LUOLQH%DOO9DOYH$VVHPEO\ %ODFN+DQGOH([KDXVW6LOHQFHU$VVHPEO\
3URWHFWLRQ*XDUG(OFRPHWHU,QVSHFWLRQ+DWFK'RRU(OFRPHWHU,QVSHFWLRQ+DWFK'RRU(OFR)LW6HDOLQJ*DVNHW(OFRPHWHU,QVSHFWLRQ+DWFK'RRU%ROW 0[PP(OFRPHWHU,QVSHFWLRQ+DWFK'RRU<RNH
0+H[DJRQDO)ODQJHG1XW
PP  'LDPHWHU:KHHO)ODW:DVKHU3DFNRI
6SOLW&RWWHU3LQ3DFNRI(OFRPHWHU5&9 3LSHZRUN$VVHPEO\6HUYLFH.LW FRQWDLQVLWHPVWR(OFRPHWHU$EUDVLYH%ODVW0DFKLQH6DIHW\/DEHO.LW

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

 (/&20(7(5$%0'5$:,1*6 3$576/,676 FRQW(/&20(7(5++,*+35(6685(3257$%/($%0








































































(OFRPHWHU0HGLD9DOYHV$SSHQGLFHV&DQG'













HQ



ZZZHOFRPHWHUFRPEODVWLQJ

5 (/&20(7(5$%0'5$:,1*6 3$576/,676 FRQW(/&20(7(5++,*+35(6685(3257$%/($%0 FRQW
,WHP





















































3DUW1XPEHU
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
0707
07
07
07
07
07
0707
07
07
07
070707
07
0707
070707
07
070707

'HVFULSWLRQ
3RS8S9DOYH
3RS8S6KDIWPP  /RQJ)HPDOH(TXDO(OERZò+H[1LSSOH
0RLVWXUH6HSDUDWRU VHH$SSHQGL[%RQSDJHHQò0DOH0DOH8QLRQ7DSHU6HDW
ó%XONKHDG&RQQHFWRU3DFNRI
7ZLQOLQH$LU+RVH$VVHPEO\ <HOORZ *UHHQ$LUOLQH$VVHPEO\ 5HG
3RS8S9DOYH25LQJ3DFNRI
3URWHFWLYH(GJLQJ6WULS PIW
6SULQJ&RWWHU3LQ7\SH(3DFNRI6KRUW'HÀHFWRU3ODWH6SDFHUPP  /RQJ3DFNRI
/RQJ'HÀHFWRU3ODWH6SDFHUPP  /RQJ3DFNRI
'HÀHFWRU3ODWH'HÀHFWRU3ODWH6KDIWPP  /RQJ3DFNRI
%DFNQXW UHFHVVHG)HPDOH)HPDOH8QLRQ7DSHU6HDW
+H[1LSSOH
([KDXVW7$VVHPEO\ FRPSOHWHZLWK07([KDXVW3OXJ
([KDXVW3OXJ
3LSHPP  /RQJ
6RFNHW
0DOH)HPDOH(TXDO8QLRQ7DSHU6HDW
3LSHPP  /RQJ
0DOH)HPDOH(OERZWRò5HGXFLQJ%XVK
ô5HLQIRUFHG8QLRQ(OERZô+H[1LSSOH(OFRPHWHU5&95HPRWH&RQWURO9DOYH VHH$SSHQGL[$RQSDJHHQ
3HWFRFN9DOYH$VVHPEO\ 5HG+DQGOHò0DOH)HPDOH(TXDO8QLRQ7DSHU6HDWò3LSHPP  /RQJ
ò(TXDO3LWFKHU7
ò&KRNH9DOYH+DQGOH
ò&KRNH9DOYH$VVHPEO\ LQFOXGHV07&KRNH9DOYH+DQGOHò&RQH0DOH0DOH$GDSWRU
ó%DOO9DOYH$VVHPEO\ %ODFN+DQGOH
ó$LUOLQH%DOO9DOYH$VVHPEO\ %ODFN+DQGOH([KDXVW6LOHQFHU$VVHPEO\
3URWHFWLRQ*XDUG(OFRPHWHU,QVSHFWLRQ+DWFK'RRU(OFRPHWHU,QVSHFWLRQ+DWFK'RRU(OFR)LW6HDOLQJ*DVNHW(OFRPHWHU,QVSHFWLRQ+DWFK'RRU%ROW 0[PP(OFRPHWHU,QVSHFWLRQ+DWFK'RRU<RNH
0+H[DJRQDO)ODQJHG1XW)ODW:DVKHU3DFNRIPP  'LDPHWHU:KHHO
PP  'LDPHWHU:KHHO
6SOLW&RWWHU3LQ3DFNRI(OFRPHWHU5&9 3LSHZRUN$VVHPEO\6HUYLFH.LW FRQWDLQVLWHPVWR(OFRPHWHU$EUDVLYH%ODVW0DFKLQH6DIHW\/DEHO.LW

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

 (/&20(7(5$%0'5$:,1*6 3$576/,676 FRQW(/&20(7(5++,*+35(6685(3257$%/($%0













































































(OFRPHWHU0HGLD9DOYHV$SSHQGLFHV&DQG'













HQ





ZZZHOFRPHWHUFRPEODVWLQJ

5 (/&20(7(5$%0'5$:,1*6 3$576/,676 FRQW(/&20(7(5++,*+35(6685(3257$%/($%0 FRQW
,WHP





















































3DUW1XPEHU
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
07
0707
07
07
07
07
07
0707
07
07
07
070707
07
0707
070707
07
070707

'HVFULSWLRQ
3RS8S9DOYH
3RS8S6KDIWPP  /RQJ)HPDOH(TXDO(OERZò+H[1LSSOH
0RLVWXUH6HSDUDWRU VHH$SSHQGL[%RQSDJHHQò0DOH0DOH8QLRQ7DSHU6HDW
ó%XONKHDG&RQQHFWRU3DFNRI
7ZLQOLQH$LU+RVH$VVHPEO\ <HOORZ *UHHQ$LUOLQH$VVHPEO\ 5HG
3RS8S9DOYH25LQJ3DFNRI
3URWHFWLYH(GJLQJ6WULS PIW
6SULQJ&RWWHU3LQ7\SH(3DFNRI6KRUW'HÀHFWRU3ODWH6SDFHUPP  /RQJ3DFNRI
/RQJ'HÀHFWRU3ODWH6SDFHUPP  /RQJ3DFNRI
'HÀHFWRU3ODWH'HÀHFWRU3ODWH6KDIWPP  /RQJ3DFNRI
%DFNQXW UHFHVVHG)HPDOH)HPDOH8QLRQ7DSHU6HDW
+H[1LSSOH
([KDXVW7$VVHPEO\ FRPSOHWHZLWK07([KDXVW3OXJ
([KDXVW3OXJ
3LSHPP  /RQJ
6RFNHW
0DOH)HPDOH(TXDO8QLRQ7DSHU6HDW
3LSHPP  /RQJ
0DOH)HPDOH(OERZWRò5HGXFLQJ%XVK
ô5HLQIRUFHG8QLRQ(OERZô+H[1LSSOH(OFRPHWHU5&95HPRWH&RQWURO9DOYH VHH$SSHQGL[$RQSDJHHQ
3HWFRFN9DOYH$VVHPEO\ 5HG+DQGOHò0DOH)HPDOH(TXDO8QLRQ7DSHU6HDWò3LSHPP  /RQJ
ò(TXDO3LWFKHU7
ò&KRNH9DOYH+DQGOH
ò&KRNH9DOYH$VVHPEO\ LQFOXGHV07&KRNH9DOYH+DQGOHò&RQH0DOH0DOH$GDSWRU
ó%DOO9DOYH$VVHPEO\ %ODFN+DQGOH
ó$LUOLQH%DOO9DOYH$VVHPEO\ %ODFN+DQGOH([KDXVW6LOHQFHU$VVHPEO\
3URWHFWLRQ*XDUG(OFRPHWHU,QVSHFWLRQ+DWFK'RRU(OFRPHWHU,QVSHFWLRQ+DWFK'RRU(OFR)LW6HDOLQJ*DVNHW(OFRPHWHU,QVSHFWLRQ+DWFK'RRU%ROW 0[PP(OFRPHWHU,QVSHFWLRQ+DWFK'RRU<RNH
0+H[DJRQDO)ODQJHG1XW)ODW:DVKHU3DFNRIPP  'LDPHWHU:KHHO
PP  'LDPHWHU:KHHO
6SOLW&RWWHU3LQ3DFNRI(OFRPHWHU5&9 3LSHZRUN$VVHPEO\6HUYLFH.LW FRQWDLQVLWHPVWR(OFRPHWHU$EUDVLYH%ODVW0DFKLQH6DIHW\/DEHO.LW

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

 75$163257$7,21 6725$*(z
%HIRUHPRYLQJRUVWRULQJDQ(OFRPHWHU$EUDVLYH%ODVW0DFKLQH$%0 VDIHO\GLVFRQQHFWDOOFRPSUHVVHGDLUDQGEODVWKRVHVDQG
HPSW\WKH$%0RIDOODEUDVLYHPHGLDz'RQRWDWWHPSWWRZKHHOWKH$%0RYHUXQHYHQJURXQG$OZD\V
XVHERWKOLIWLQJOXJVORFDWHGRQWKHVLGHRIWKHSUHVVXUHYHVVHORI
WKH$%0 H[FHSW(OFRPHWHU ZKHQOLIWLQJWKH$%0'RQRW
H[FHHGWKHPD[LPXPOXJOLIWLQJZHLJKWDVLGHQWLILHGLQWKHWDEOHLQ
6HFWLRQµ7HFKQLFDO6SHFLILFDWLRQ¶RQSDJHHQ
z
(PSW\WKH$%0RIDOODEUDVLYHPHGLDLIOHDYLQJWKH$%0RYHUQLJKWRUZKHQQRWXVLQJWKH$%0IRUORQJSHULRGVRIWLPHz
7RDYRLGPRLVWXUHDQGUDLQZDWHULQJUHVVLQWRWKH$%0DOZD\VXVH
WKHDSSURSULDWH(OFRPHWHU$%0OLG DYDLODEOHWRSXUFKDVHIURP(OFRPHWHURU\RXUORFDO(OFRPHWHUVXSSOLHUVHH
ZZZHOFRPHWHUFRPEODVWLQJIRUIXUWKHULQIRUPDWLRQ z,IOHIWLQORQJWHUPVWRUDJHWRSUHYHQWPRLVWXUHEXLOGXSDWWKH
EDVHRIWKH$%0LWLVUHFRPPHQGHGWKDWWKHPHWHULQJYDOYHLVOHIWIXOO\RSHQDQGWKH0L[HU7 LIILWWHG LVGLVFRQQHFWHGIURPWKH
YDOYH,IDQ(OFRPHWHU$*9LVILWWHGLWLVUHFRPPHQGHGWKDWWKH
HOFR728*+9DOYH/LQHULVUHPRYHG
z,I\RXGRQRWZLVKWRUHPRYHWKH0L[HU7IURPWKH(OFRPHWHU$%0
RSHQWKHPHWHULQJYDOYHDQGVWRUHWKH$%0XSVLGHGRZQ :$55$17<67$7(0(17(OFRPHWHU$EUDVLYH%ODVW0DFKLQHVDUHFRYHUHGE\ZDUUDQW\IRUPRQWKVIURPWKHGDWHRIVDOHDVORQJDVWKH\DUHILWWHGZLWK(OFRPHWHUDSSURYHGVSDUHV([FHSWIRUIDLUZHDUDQGWHDU(OFRPHWHUZDUUDQWVSURGXFWVDJDLQVW
GHIHFWVFDXVHGE\IDXOW\GHVLJQPDWHULDOVRUZRUNPDQVKLS$WWKH
FRPSDQ\ VGLVFUHWLRQIDXOW\HTXLSPHQWZLOOEHUHSODFHGRUUHSDLUHGIUHHRIFKDUJHLIDIDXOWGHYHORSVZLWKLQWKHZDUUDQW\SHULRG7KLVZDUUDQW\GRHVQRWDSSO\WRFRQVXPDEOHLWHPV
8VLQJQRQ(OFRPHWHUDSSURYHGVSDUHVDQGDFFHVVRULHVZLOOQRWRQO\LQYDOLGDWH\RXUZDUUDQW\EXWFRXOGUHVXOWLQGHDWKVHULRXVLQMXU\RUGDPDJHWRHTXLSPHQWHQ

ZZZHOFRPHWHUFRPEODVWLQJ

5$SSHQGL[$(OFRPHWHU5&9 5&9
5HPRWH&RQWURO9DOYHV

6HFWLRQ

3DJH$

3URGXFW2YHUYLHZ

HQ

$

'LVFRQQHFWLQJ 5HFRQQHFWLQJWKH5&9

HQ

$

'LVDVVHPEOLQJ 5H$VVHPEOLQJWKH5&9

HQ

$

'LVDVVHPEOLQJ 5H$VVHPEOLQJWKH5&9
([KDXVW0DQLIROG

HQ

$

'UDZLQJV 3DUWV/LVW

HQ

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

$33(1',;$(/&20(7(55&9 5&9
$ 352'8&729(59,(:
7KH(OFRPHWHU5&9 5&95HPRWH&RQWURO9DOYHVDUH
GHVLJQHGWREHXVHGLQDGU\DEUDVLYHEODVWPDFKLQHDQGFRQVLVWRI
z

z

z

5&9([KDXVW0DQLIROG
7KLVDOORZVDLUWRH[KDXVWIURPWKHDEUDVLYHEODVWPDFKLQHWKURXJKWKHVLOHQFHU
5HPRWH&RQWURO9DOYH
7KLVZKHQXVHGLQFRQMXQFWLRQ<HOORZZLWKDGHDGPDQ VKDQGOH
&RQWURO/LQH
,Q
SUHVVXULVHVDQGGH
SUHVVXULVHVWKHDEUDVLYHEODVWPDFKLQH7KHUHGVDIHW\SHWFRFNYDOYHRQWKHUHPRWH
FRQWUROYDOYHFDQEHXVHGWR
GHSUHVVXULVHWKHDEUDVLYH
EODVWPDFKLQHLQDQ
HPHUJHQF\ LVRODWLQJWKH
*UHHQ
GHDGPDQ VKDQGOH &RQWURO/LQH
2XW
5&9$LU0DQLIROG3URYLGHVWKHRSHUDWRUZLWKDò´RXWOHW'UDLQ9DOYH
SRUWWRILWDSUHVVXUHUHOLHIYDOYHDQGILYHDGGLWLRQDOó´
RXWOHWSRUWVIRUSURYLGLQJDLUWRDQFLOODU\HTXLSPHQWVXFKDV
EUHDWKHDLUILOWHUVDQGDLU
SRZHUWRROV$SUHVVXUHJDXJHFDQDOVREHDWWDFKHGWRSURYLGHWKHRSHUDWRUZLWKWKHFRPSUHVVHGDLUSUHVVXUHYDOXH2QHDGGLWLRQDOó´RXWOHWSRUWLVILWWHGZLWKDPRLVWXUHGUDLQEDOOYDOYH

HQ

([KDXVW
0DQLIROG
6HDO&KHFNSRLQW
+ROHV
6DIHW\3HWFRFN9DOYH
RSHQSRVLWLRQ

5HPRWH&RQWURO
9DOYH$LU0DQLIROG

ZZZHOFRPHWHUFRPEODVWLQJ5$33(1',;$(/&20(7(55&9 5&9 FRQWLQXHG&RPSUHVVHGDLULVIHGWKRXJKWKHUHPRWHFRQWUROYDOYHDQGGRZQWKH
JUHHQFRQWUROKRVHWRWKHGHDGPDQ VKDQGOH:KHQWKHGHDGPDQ V
KDQGOHLVFORVHGWKHDLUUHWXUQVWRWKHUHPRWHFRQWUROYDOYHYLDWKH
\HOORZFRQWUROKRVHZKLFKSXVKHVXSWKHH[KDXVWGLDSKUDJP ZKLFKSUHYHQWVDLUIURPYHQWLQJWKURXJKWKHVLOHQFHU DQGSXVKHVGRZQWKH
DLULQOHWSLVWRQDOORZLQJWKHFRPSUHVVHGDLUWRIORZLQWRWKHDEUDVLYH
EODVWPDFKLQHSUHVVXULVLQJWKHDEUDVLYHEODVWPDFKLQHDQGDOORZLQJ
WKHEODVWSURFHVVEHJLQ:KHQWKHGHDGPDQ VKDQGOHLVUHOHDVHGWKHH[KDXVWGLDSKUDJPGURSVDOORZLQJWKHDEUDVLYHEODVWPDFKLQHWRGHSUHVVXULVHE\YHQWLQJWKURXJKWKHVLOHQFHUYLDWKHH[KDXVWPDQLIROG
7KHUHDUHWZRVHDOFKHFNSRLQWKROHVORFDWHGRQWKHIURQWRIWKH
5&9 5&9,IDLULVEORZLQJRXWRIWKHVHKROHVLWLVOLNHO\WKDWWKHVHDOVZLWKLQWKH5&95&9DQGH[KDXVWPDQLIROGUHTXLUHUHSODFLQJ$ ',6&211(&7,1* 5(&211(&7,1*7+(5&9%HIRUHFDUU\LQJRXWDQ\UHSODFHPHQWRUPDLQWHQDQFHRIDQ\
SDUWRIWKH$EUDVLYH%ODVW0DFKLQHRUDQ\LWHPZLWKLQWKH
$EUDVLYH%ODVW6\VWHPSOHDVHUHDGDQGXQGHUVWDQG
6HFWLRQRIWKLV8VHU*XLGH'HSUHVVXULVHWKH$%0EOHHGDOOWKHDLUVXSSO\OLQHVWRWKH
$%0DQGGLVFRQQHFWWKH$%0IURPWKHFRPSUHVVRU)DLOXUHWRGRVRFRXOGFDXVHVHULRXVLQMXU\RUGHDWK3OHDVHUHIHUWRWKH(OFRPHWHU$%0'UDZLQJVLQ6HFWLRQ 7RGLVFRQQHFWWKHUHPRWHFRQWUROYDOYHIURPWKHDEUDVLYHEODVWPDFKLQHILUVWGLVFRQQHFWWKH\HOORZ WRS DQGJUHHQ ERWWRP 
UHPRWHFRQWUROKRVHIURPWKHUHPRWHFRQWUROYDOYHDQGDQ\RWKHUDLUVXSSOLHVIURPWKHUHPRWHFRQWUROYDOYH DLUPDQLIROG 8QGRWKHXQLRQMRLQWORFDWHGQHDUWKHH[KDXVWSRUWDQGWKHXQLRQMRLQW±FRQQHFWHGWRWKH5&9H[LWSRUWORFDWHGRQWKHVLGHRIWKH
UHPRWHFRQWUROYDOYHDQGUHPRYHWKHUHPRWHFRQWUROYDOYHFRPSOHWHZLWKDFFHVVRULHVIURPWKHDEUDVLYHEODVWPDFKLQHZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

$33(1',;$(/&20(7(55&9 5&9 FRQWLQXHG
 5HPRYHWKHPRLVWXUHVHSDUDWRUXQGRWKHXQLRQMRLQWDQGVHW
GRZQRQDFOHDQVXUIDFH
 5HPRYHWKHVLOHQFHUE\XQGRLQJWKHXQLRQHOERZMRLQW$ ',6$66(0%/,1* 5($66(0%/,1*7+(5&9
3OHDVHUHIHUWRWKHGUDZLQJVLQ6HFWLRQ$RQSDJHHQ 7RUHPRYHWKHH[KDXVWPDQLIROGIURPWKH5&9UHPRYHDOOIRXUER[VFUHZVXVLQJDVSHFLDOFXWGRZQPPDOOHQER[NH\ SDUWQXPEHU07 UHPRYHDQGRUUHSODFHWKHJDVNHWDQGVHW
ERWKGRZQRQDFOHDQVXUIDFH

1RWH7KHUHDUHVHDOVRULQJVLQWKH5&9WKDWZLOOQHHGWREHUHSODFHG
RUJUHDVHGIURPWLPHWRWLPHWKHSLVWRQOLSVHDO LWHP ORFDWHGRQWKH
SLVWRQDQGWZRRULQJV LWHP ORFDWHGRQWKHLQOHWYDOYHVKDIW LWHP 








7RUHPRYHWKHSLVWRQ LWHP ILWWKHDOOHQER[NH\LQWRWKHER[VFUHZSRVLWLRQHGLQWKHFHQWUHRIWKHSLVWRQDQGZKLOVWORRNLQJWKURXJKWKH5&9 VH[LWSRUWVORZO\URWDWHWKHSLVWRQXQWLO\RXVHH
DKROHLQWKHLQOHWYDOYHVKDIW LWHP 7DNHDURG RUFURVVKHDGHGVFUHZGULYHU DQGSDVVLWWKURXJKWKHH[LWSRUWDQGLQWRWKH
KROHRQWKHSLVWRQVKDIW<RXFDQQRZXQGRWKHER[VFUHZORFDWHG
DWWKHWRSRIWKHSLVWRQKHDG3OHDVHQRWHWKDWWKHSLVWRQER[VFUHZLVKHOGLQSODFHZLWKWKUHDGORFNWRSUHYHQWLWIURPORRVHQLQJGXULQJRSHUDWLRQDQGZLOOEHWLJKW7DNLQJQRWHRIWKHRULHQWDWLRQRIWKHSLVWRQ KROHUHFHVVRQWRS FDUHIXOO\SULVHRXWWKHSLVWRQXVLQJDIODWKHDGVFUHZGULYHUWDNLQJFDUHQRWWRGDPDJHWKHSLVWRQOLS
VHDO LWHP 5HSODFHDQGRUJUHDVHWKHSLVWRQOLSVHDODVUHTXLUHG
7RUHPRYHWKHLQOHWYDOYHVKDIWILUVWUHPRYHWKH5&9$LU0DQLIROG
RUEDVHSODWHRQWKH5&9 E\UHPRYLQJDOOER[VFUHZVLWHP XVLQJWKHPPDOOHQER[NH\5HPRYHDQGRUUHSODFHWKHJDVNHWDQGVHWERWKGRZQRQDFOHDQVXUIDFH
7KHLQOHWYDOYHVKDIWFDQQRZEHSXVKHGGRZQIURPWKHWRS RQFH
WKHURGRUFURVVKHDGHGVFUHZGULYHUKDVEHHQUHPRYHG 5HSODFH
DQGRUJUHDVHWKHWZRRULQJV LWHP 
5HDVVHPEOHXVLQJ6WHSVWRDERYHDSSO\LQJJUHDVHWRWKH
IROORZLQJLWHPV,WHP9DOYH6KDIWRULQJV,WHP9DOYH6KDIW
DQG,WHP3LVWRQHQZZZHOFRPHWHUFRPEODVWLQJ5$33(1',;$(/&20(7(55&9 5&9 FRQWLQXHG$ ',6$66(0%/,1* 5($66(0%/,1*7+(5&9
(;+$8670$1,)2/'
7KHUHLVRQHSLVWRQOLSVHDO LWHP LQWKH5&9([KDXVW0DQLIROGWKDWZLOOQHHGWREHUHSODFHGRUJUHDVHGIURPWLPHWRWLPH
7KHUHLVDOVRD5XEEHU9DOYH6HDW'LDSKUDJP LWHP ZKLFKZLOODOVRQHHGLQVSHFWLQJIURPWLPHWRWLPH7KLV'LDSKUDJPLVGHVLJQHGWR
SURWHFWWKHSLVWRQVIURPGDPDJHFDXVHGE\DQ\DEUDVLYHPHGLDZLWKLQWKHH[KDXVWGXULQJGHSUHVVXULVDWLRQRIWKHDEUDVLYHEODVWPDFKLQH
3OHDVHUHIHUWRWKHGUDZLQJVLQ6HFWLRQ$RQSDJHHQ 'LVFRQQHFWWKH5&9RU5&9IURPWKHDEUDVLYHEODVWPDFKLQHDVGHVFULEHGLQ6HFWLRQ$ 7RUHPRYHWKHH[KDXVWPDQLIROGIURPWKH5&9UHPRYHDOOIRXUER[VFUHZVXVLQJDVSHFLDOFXWGRZQPPDOOHQER[NH\ SDUWQXPEHU07 UHPRYHDQGRUUHSODFHWKHJDVNHWDQGVHWLW
DQGWKH5&9GRZQRQDFOHDQVXUIDFH
 :LWKWKH([KDXVW0DQLIROGUHVWLQJRQDFOHDQGHVNXQVFUHZDQG
UHPRYHWKHPDQLIROGDGDSWRU LWHP DQGOLIWRIIWKHPDQLIROGFRYHU LWHP 5HSODFHWKHH[KDXVWPDQLIROGVHDOLQJULQJ LWHP 
DVUHTXLUHG
 8VLQJWKHDOOHQER[NH\UHPRYHWKHER[VFUHZV LWHP DQGOLIWRIIWKHWRSFRYHU LWHP  /LIWRIIDQGLQVSHFWWKH5XEEHU9DOYH6HDW'LDSKUDJP LWHP 
DQGUHSODFHLIUHTXLUHG
 ,QVHUWWKHSHJVRIWKH([KDXVW0DQLIROG3LVWRQ7RRO SDUWQXPEHU
07 LQWRWKHWZRKROHVRQWKHEDVHRIWKHPDQLIROGF\OLQGHULWHP DQGWKHQUHPRYHWKHER[VFUHZ LWHP ORFDWHGDWWKH
WRSRIWKHSLVWRQKHDG7DNLQJQRWHRIWKHRULHQWDWLRQRIWKHSLVWRQKROHUHFHVVRQWRS FDUHIXOO\SULVHRXWWKHSLVWRQXVLQJDIODWKHDGVFUHZGULYHUWDNLQJFDUHQRWWRGDPDJHWKHSLVWRQOLSVHDO
LWHP 5HSODFHDQGRUJUHDVHWKHSLVWRQOLSVHDODVUHTXLUHG
 5HDVVHPEOHXVLQJ6WHSVWRDERYHDSSO\LQJJUHDVHWR,WHP3LVWRQ/LS6HDO,WHP([KDXVW0DQLIROG6HDOLQJ5LQJ,WHP
0DQLIROG&\OLQGHUDQG,WHP3LVWRQ
1RWH:KHQUHSRVLWLRQLQJWKHH[KDXVWPDQLIROGFRYHUURWDWHWKHFRYHUVRWKDWWKH
H[KDXVWH[LWSRUWLVRULHQWDWHGWRILWWKHVLOHQFHULQWKHFRUUHFWSODFH/HDYHWKH
PDQLIROGDGDSWRU LWHP ILQJHUWLJKWWRDOORZILQHDGMXVWPHQWZKHQUHDWWDFKLQJWKH5&9DVVHPEO\WRWKHDEUDVLYHEODVWPDFKLQHDQGRQFHWKHVLOHQFHUKDV
EHHQSRVLWLRQHGFRUUHFWO\IXOO\WLJKWHQWKHPDQLIROGDGDSWRU LWHP ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

$33(1',;$(/&20(7(55&9 5&9 FRQWLQXHG$ '5$:,1*6 3$576/,67
3DUW1XPEHU'HVFULSWLRQ

5&9%ó5&93QHXPDWLF5HPRWH&RQWURO9DOYH

5&93%ô5&93QHXPDWLF5HPRWH&RQWURO9DOYHIRU
(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV
5&93% ò5&93QHXPDWLF5HPRWH&RQWURO9DOYHIRU(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV H[FOXGLQJWKH(OFRPHWHU
5&93% ó5&93QHXPDWLF5HPRWH&RQWURO9DOYH

5&9



5&9









































































HQ








ZZZHOFRPHWHUFRPEODVWLQJ5$33(1',;$(/&20(7(55&9 5&9 FRQWLQXHG$ '5$:,1*6 3$576/,67 FRQWLQXHG(/&20(7(55&9 5&963$5(3$576,WHP

3DUW1XPEHU'HVFULSWLRQ07

ôWR&RQH0DOH0DOH$GDSWRU

07

%OHHG2ႇ0DQLIROG

07

7RS&RYHU

07

%OHHG2ႇ9DOYH



07

%OHHG2ႇ&\OLQGHU+RXVLQJ07([KDXVW0DQLIROG$VVHPEO\07

ó&RQH0DOH0DOH$GDSWRU

07

3LVWRQ

07

ó6TXDUH+HDG3OXJ [07

òWRó´5HGXFLQJ%XVK

07

ó0DOH$GDSWRU07

3HWFRFN9DOYH$VVHPEO\ 5HG+DQGOH

07,QOHW9DOYH



07

ó%DOO9DOYH %ODFN+DQGOH



07

%DVH3ODWH

07

$LU0DQLIROG

07

ò6TXDUH+HDG3OXJ(/&20(7(55&9 5&96(59,&(.,76,WHP

3DUW1XPEHU'HVFULSWLRQ

07

(OFRPHWHU5&95&96HUYLFH.LWFRQWDLQVWKHLWHPVOLVWHGEHORZ25LQJPP&RUG[,'

5XEEHU9DOYH6HDW

*DVNHW [

3LVWRQ/LS6HDO [25LQJPP&RUG[,' [07

(OFRPHWHU5&95&96HUYLFH.LWFRQWDLQVWKHLWHPVOLVWHGEHORZ

0[6WDLQOHVV6WHHO+H[6RFNHW&DS6FUHZ [07

(OFRPHWHU5&95&96HUYLFH.LWFRQWDLQVWKHLWHPVOLVWHGEHORZ



5&96HUYLFH7RRO



PP$OOHQ.H\

07

(OFRPHWHU5&95&96HUYLFH.LWFRQWDLQVWKHLWHPVOLVWHGEHORZó6TXDUH+HDG3OXJ [07

ò6TXDUH+HDG3OXJ

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

127(6

HQ

ZZZHOFRPHWHUFRPEODVWLQJ

5$SSHQGL[%0RLVWXUH6HSDUDWRU

6HFWLRQ

3DJH%

5HPRYLQJ 5HSODFLQJWKH)LOWHU(OHPHQW

HQ

%

'UDZLQJV 3DUWV/LVW

HQ

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

$33(1',;%02,6785(6(3$5$725% 5(029,1* 5(3/$&,1*7+(),/7(5(/(0(17%HIRUHFDUU\LQJRXWDQ\UHSODFHPHQWRUPDLQWHQDQFHRIDQ\
SDUWRIWKH$EUDVLYH%ODVW0DFKLQHRUDQ\LWHPZLWKLQWKH
$EUDVLYH%ODVW6\VWHPSOHDVHUHDGDQGXQGHUVWDQG
6HFWLRQRIWKLV8VHU*XLGH'HSUHVVXULVHWKH$%0EOHHGDOOWKHDLUVXSSO\OLQHVWRWKH
$%0DQGGLVFRQQHFWWKH$%0IURPWKHFRPSUHVVRU)DLOXUHWRGRVRFRXOGFDXVHVHULRXVLQMXU\RUGHDWK3OHDVHUHIHUWRWKHGUDZLQJLQ6HFWLRQ%RQSDJHHQ (QVXUHWKDWWKHDEUDVLYHEODVWPDFKLQHLVGHSUHVVXULVHGDQG
GLVFRQQHFWHGIURPWKHFRPSUHVVRUDQGWKHGUDLQYDOYH LWHP 
LVRSHQ 7DNLQJFDUHQRWWRGDPDJHWKHLQWHJUDWHGRULQJVHDO LWHP DWWKHEDVHRIWKHPRLVWXUHVHSDUDWRUWRSWKUHDGFDUHIXOO\XQVFUHZ
WKHPRLVWXUHVHSDUDWRUERZOKROGLQJULQJ LWHP XVLQJDUXEEHUILOWHUVWUDSZUHQFK SDUWQXPEHU07 LIUHTXLUHGDQGVHW
WKHERZODQGFROODUGRZQRQDFOHDQVXUIDFHPDNLQJVXUHQRWWRGDPDJHWKHGUDLQYDOYH +ROGLQJWKHILOWHUHOHPHQW LWHP LQSODFHFDUHIXOO\XQVFUHZDQG
UHPRYHWKHORZHUQXW LWHP IROORZHGE\WKHSODVWLFGRPH LWHP 
DQGVHWGRZQRQDFOHDQVXUIDFH7KHILOWHUHOHPHQWDQGWRSSODVWLF
DLUGHIOHFWRU LWHP ZLOOQRZERWKIUHHO\VOLGHRIIWKHWKUHDGHGVWHHOEDU LWHP 
 &OHDQWKHILOWHUHOHPHQWDQGWRSSODVWLFDLUGHIOHFWRUZLWKGHWHUJHQWDQGZDWHUDQGEORZGU\6ROYHQWVPD\GDPDJHWKHILOWHUHOHPHQW
DQGVKRXOGQRWEHXVHG,IWKHILOWHUHOHPHQWLVGDPDJHGLWVKRXOG
EHUHSODFHG
 ,QVSHFWWKHLQWHJUDWHGRULQJVHDO LWHP DQGUHSODFHLIUHTXLUHG
 5HEXLOGWKHPRLVWXUHVHSDUDWRUWDNLQJFDUHWRILWWKHLWHPVLQWKH
FRUUHFWRULHQWDWLRQ
z
z
z

7RS3ODVWLF$LU'HIOHFWRUULEVSRLQWLQJGRZQWKHWKUHDGHG
VWHHOEDU
)LOWHU(OHPHQWFRQHGRZQZDUGVZLGHGLDPHWHUDWWRS
3ODVWLF'RPH&RQYH[VXUIDFHWRZDUGVILOWHUHOHPHQWGR
QRWRYHUWLJKWHQWKHGRPHLWZLOOGDPDJHWKHSODVWLFWKUHDG

1RWH'RQRWRYHUWLJKWHQWKHORZHUQXWDVLWZLOOGDPDJHRUEUHDNWKHSODVWLF
GRPH

HQ

ZZZHOFRPHWHUFRPEODVWLQJ5$33(1',;%02,6785(6(3$5$725 FRQWLQXHG% '5$:,1*6 3$576/,67
3DUW1XPEHU'HVFULSWLRQ

07

0RLVWXUH6HSDUDWRU$VVHPEO\,WHP 3DUW1XPEHU 'HVFULSWLRQ













07

7RS0DQLIROG

07

7KUHDGHG6WHHO%DU

07

$LU'HÀHFWRU07

)LOWHU(OHPHQW

073ODVWLF'RPH

07

1XW



07

25LQJ

07

9HVVHO

07

+ROGLQJ5LQJ



07

ó0DOH$GDSWRU07
07

ó%DOO9DOYH %ODFN+DQGOH
6WUDS:UHQFK.LW´DQG'LDPHWHU)RUGLVDVVHPEOLQJWKH0RLVWXUH
6HSDUDWRUWRUHSODFHWKH¿OWHUHOHPHQW








ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

127(6

HQ

ZZZHOFRPHWHUFRPEODVWLQJ

5$SSHQGL[&(OFRPHWHU0HGLD9DOYHV*HQHUDO9DOYH *9
0LQL*HQHUDO9DOYH 0*9$XWRPDWLF*HQHUDO9DOYH $*9

6HFWLRQ

3DJH&

3URGXFW2YHUYLHZ

HQ

&

5HSODFLQJWKHHOFR728*+9DOYH/LQHU

HQ

&

5HPRYLQJWKH0HGLD9DOYHIURPWKH$%0

HQ

&

'LVDVVHPEOLQJ 5H$VVHPEOLQJ*9 0*99DOYHV

HQ

&

'LVDVVHPEOLQJ 5H$VVHPEOLQJWKH$*9$XWRPDWLF
9DOYH6WHP$VVHPEO\

HQ

&

(OFRPHWHU*9'UDZLQJV 3DUWV/LVW

HQ

&

(OFRPHWHU0*9'UDZLQJV 3DUWV/LVW

HQ

&

(OFRPHWHU$*9'UDZLQJV 3DUWV/LVW

HQ

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

$33(1',;&0(',$9$/9(6*90*9 $*9
& 352'8&729(59,(:%HIRUHFDUU\LQJRXWDQ\UHSODFHPHQWRUPDLQWHQDQFHRIDQ\
SDUWRIWKH$EUDVLYH%ODVW0DFKLQHRUDQ\LWHPZLWKLQWKH
$EUDVLYH%ODVW6\VWHPSOHDVHUHDGDQGXQGHUVWDQG
6HFWLRQRIWKLV8VHU*XLGH'HSUHVVXULVHWKH$%0EOHHGDOOWKHDLUVXSSO\OLQHVWRWKH
$%0DQGGLVFRQQHFWWKH$%0IURPWKHFRPSUHVVRU)DLOXUHWRGRVRFRXOGFDXVHVHULRXVLQMXU\RUGHDWK
7KH(OFRPHWHU*HQHUDO9DOYH *9 0LQL*HQHUDO9DOYH 0*9 DQG$XWRPDWLF*HQHUDO9DOYH $*9 FDQEHLQFRUSRUDWHGZLWKLQDGU\$EUDVLYH%ODVW6\VWHP $%0 WRFRQWUROWKHIORZRIGU\DEUDVLYHPHGLDWKURXJKWKHYDOYH
)RUWKH*9DQG0*9PHGLDYDOYHVWKHPHGLDIORZLVPDQXDOO\FRQWUROOHGWKURXJKWKHWXUQLQJRIWKHRUDQJHNQREDQWLFORFNZLVHRUFORFNZLVHZKLFKRSHQVDQGFORVHVWKHYDOYHUHVSHFWLYHO\,QDGGLWLRQWRFRQWUROOLQJWKHDPRXQWRIPHGLDIORZLQJWKURXJKWKH
YDOYHWKH$*9PHGLDYDOYHDXWRPDWLFDOO\FORVHVWKHPHGLDYDOYHDQG
KHQFHWKHIORZRIDEUDVLYHPHGLDWKURXJKWKHPHGLDYDOYHDVVRRQDVWKHGHDGPDQ VKDQGOHLVUHOHDVHG
,QWKLVZD\WKH$*9SUHYHQWVPHGLDIORZLQJWKURXJKWKHYDOYHXQGHUJUDYLW\DQGVHWWOLQJDWWKHEDVHRIWKHPL[HUYDOYH±WKHUHE\DYRLGLQJDQ\VXEVHTXHQWVOXJRIDEUDVLYHIORZLQJGRZQWKHEODVWKRVHWRWKH
EODVWQR]]OHDVVRRQDVWKHGHDGPDQ VKDQGOHLVFORVHGDJDLQ
7KHLQGLFDWRUVFDOHEHORZWKHRUDQJHNQRELQGLFDWHVWKHYDOYHRSHQLQJSRVLWLRQ )XOO\2SHQ)XOO\&ORVHG³´ 
7KH(OFRPHWHU*90*9 $*9YDOYHRSHQLQJSRVLWLRQ±DQGKHQFH
WKHPHGLDIORZUDWHFDQEHDGMXVWHGHLWKHUEHIRUHWKH$%0LVSUHVVXULVHGRUZKLOVWWKH$%0LVLQXVH
1RWH,IWKHYDOYHRSHQLQJLVWREHDGMXVWHGZKLOVWWKH$%0LVLQXVHIRUDGGHG
VDIHW\RIDOOSHUVRQQHOZLWKLQWKHEODVWDUHDLWLVUHFRPPHQGHGWKDWWKLVLVXQGHUWDNHQE\WKH3RW7HQGHUDQGQRWWKHDEUDVLYHEODVWHUWKHPVHOYHVHQZZZHOFRPHWHUFRPEODVWLQJ5$33(1',;&0(',$9$/9(6*90*9 $*9 FRQWLQXHG
7KH(OFRPHWHU*90*9DQG$*9PXVWEHXVHGZLWKWKH
HOFR728*+9DOYH/LQHUZKLFKLVGHVLJQHGWRSURWHFWWKHYDOYHIURPZHDU7KHYDOYHUHPDLQVDWWKHVHOHFWHGSRVLWLRQGXULQJRSHUDWLRQDQG
FDQRQO\EHFORVHGPDQXDOO\7KURXJKXVHWKHHOFR728*+YDOYHOLQHUZLOOZHDU7RPDLQWDLQWKH
VDPHPHGLDIORZUDWHWKURXJKWKHYDOYHWKHYDOYHRSHQLQJSRVLWLRQPD\KDYHWREHDOWHUHGDVWKHYDOYHOLQHUZHDUV
7KHVFDOHFDQDOVREHXVHGWRLQGLFDWHZKHQWKHYDOYHOLQHUKDVEHHQ
ZRUQWRRWKLQDQGWKHUHIRUHVKRXOGEHUHSODFHGWRSUHYHQWGDPDJHWRWKHYDOYHLWVHOI7RGHWHUPLQHWKHGHJUHHRIDEUDVLYHZHDURQWKH
HOFR728*+YDOYHOLQHUURWDWHWKHRUDQJHNQREXQWLOWKHYDOYHLVIXOO\FORVHGDQGWKHQUHDGWKHVFDOHLQGLFDWRU,IWKHUHDGLQJLVLQWKHUHGUHSODFHWKHYDOYHOLQHULPPHGLDWHO\& 5(3/$&,1*7+(HOFR728*+9$/9(/,1(53OHDVHUHIHUWRWKH(OFRPHWHU*90*9DQG$*9GUDZLQJVLQ
6HFWLRQ&&DQG&
7KHHOFR728*+OLQHUFDQEHUHSODFHGZLWKRXWWKHQHHGWRUHPRYH
WKHPHGLDYDOYHFRPSOHWHO\IURPWKH$%08QOHVVWKH(OFRPHWHU6KXW
2II9DOYH SDUWQXPEHU629% LVILWWHGHLWKHUHPSW\WKH$%0RIDOOPHGLDRULIWKH$%0LVOHVVWKDQKDOIIXOOFDUHIXOO\WLSWKH$%0RQLWV
EDFNPDNLQJVXUHWKDWQRDEUDVLYHPHGLDIORZVWKURXJKWKHH[KDXVW
SRUW






'HSUHVVXULVHWKHDEUDVLYHEODVWPDFKLQHEOHHGDOOWKHDLUVXSSO\OLQHVWRWKH$%0DQGGLVFRQQHFWWKH$%0IURPWKHFRPSUHVVRU,IWKH(OFRPHWHU6KXW2II9DOYH 629 LVILWWHGFORVHWKH629
7KH629LVFORVHGZKHQWKHEODFNKDQGOHLVDWWRWKH629
ERG\/RRVHQEXWGRQRWUHPRYHWKHWRSDQGERWWRPIODQJHKH[EROWV͘
/RRVHQUHPRYHDQGFDUHIXOO\VWRUHWKHYDOYHEROWVDQG
ZDVKHUV͘)XOO\ORRVHQUHPRYHDQGFDUHIXOO\VWRUHWKHWRSDQGERWWRP
IODQJHEROWVIURPWKHVDPHVLGHDQGFDUHIXOO\UHPRYHRQHKDOIRI
WKHPHGLDYDOYHERG\6HWGRZQRQDFOHDQVXUIDFH

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

$33(1',;&0(',$9$/9(6*90*9 $*9 FRQWLQXHG
 5HPRYHWKHROGHOFR728*+YDOYHOLQHUDQGILWWKHQHZ
HOFR728*+YDOYHOLQHUWDNLQJFDUHWRHQVXUHWKDWWKHWRSDQG
ERWWRPRIWKHYDOYHOLQHUILWVLQEHWZHHQWKHIODQJHDQGWKHWRSRIWKHPHGLDYDOYHDWWKHWRSDQGLQEHWZHHQWKHPHGLDYDOYHDQG
WKHPL[HU7DWWKHERWWRP
 5HSODFHWKHPHGLDYDOYHKDOIPDNLQJVXUHWKDWWKHYDOYHOLQHULVFRUUHFWO\SRVLWLRQHG
 5HILWDQGIXOO\WLJKWHQWKHYDOYHEROWVWKHQUHILWWKHIODQJHEROWV )XOO\WLJKWHQDOOIODQJHEROWV ,IWKH(OFRPHWHU6KXW2II9DOYH 629 LVILWWHGRSHQWKH6297KH
629LVRSHQZKHQWKHEODFNKDQGOHLVLQOLQHZLWKWKH629ERG\ ,IWKH$%0KDVEHHQODLGRQLWVEDFNUHSRVLWLRQWKH$%0LQWKH
FRUUHFWXSULJKWSRVLWLRQ 5HILOOWKH$%0ZLWKGU\DEUDVLYHPHGLD 5HFRQQHFWWKHFRPSUHVVHGDLUVXSSO\DQGHQVXUHWKDWDOO
FRQQHFWLRQVDUHWLJKWWKURXJKRXWWKHEODVWV\VWHPDQGWKDWDOO
VDIHW\SLQVDQGZKLSFRUGVDUHDWWDFKHGFRUUHFWO\& 5(029,1*7+(0(',$9$/9()5207+($%0
3OHDVHUHIHUWRWKH(OFRPHWHU*90*9DQG$*9GUDZLQJVLQ
6HFWLRQ&&DQG&
 'HSUHVVXULVHWKHDEUDVLYHEODVWPDFKLQHEOHHGDOOWKHDLUVXSSO\OLQHVWRWKH$%0DQGGLVFRQQHFWWKH$%0IURPWKHFRPSUHVVRU ,IWKH(OFRPHWHU6KXW2II9DOYH 629 LVILWWHGFORVHWKH629
7KH629LVFORVHGZKHQWKHEODFNKDQGOHLVDWWRWKH629
ERG\,IWKH629LVQRWILWWHGHLWKHUHPSW\WKH$%0RIDOOPHGLDRULIWKH$%0LVOHVVWKDQKDOIIXOOFDUHIXOO\WLSWKH$%0RQLWV
EDFNPDNLQJVXUHWKDWQRDEUDVLYHPHGLDIORZVWKURXJKWKH
H[KDXVWSRUW ,IUHPRYLQJWKH$*9GLVFRQQHFWWKHDLUVXSSO\ UHGKRVH IURPWKHPHGLDYDOYHE\XQVFUHZLQJWKHFRXSOLQJIURPWKHPHGLDYDOYH
 /RRVHQDQGUHPRYHWKHERWWRPIODQJHEROWVDQGJHQWO\UHVWWKH
PL[HU7RQWKHJURXQG
 +ROGLQJWKHPHGLDYDOYHWRDYRLGLWGURSSLQJORRVHQDQGUHPRYH
WKHWRSIODQJHEROWVDQGUHPRYHWKHPHGLDYDOYH

HQ

ZZZHOFRPHWHUFRPEODVWLQJ5$33(1',;&0(',$9$/9(6*90*9 $*9 FRQWLQXHG& ',6$66(0%/,1* 5($66(0%/,1**9 0*99$/9(63OHDVHUHIHUWRWKH(OFRPHWHU*9DQG0*9GUDZLQJVLQ6HFWLRQ&DQG&
7RUHSODFHWKHHOFR728*+YDOYHOLQHUSOHDVHUHIHUWR6HFWLRQ&RQ
SDJHHQ





2QFHWKHPHGLDYDOYHKDVEHHQUHPRYHGIURPWKH$EUDVLYH%ODVW0DFKLQH VHH6HFWLRQ&RQSDJHHQ WRUHPRYHWKHYDOYH
VWHPDVVHPEO\ORRVHQDQGUHPRYHWKHEROWVWDNLQJFDUHQRWWR
ORVHWKHVSULQJZDVKHUVDQGQXWV$WWDFKDVSDQQHUWRWKHIODWVRQWKHYDOYHQXWDQGXVLQJDVHFRQG
VSDQQHUXQVFUHZWKHYDOYHSOXQJHUDQGVHWDVLGHRUUHSODFHDV
UHTXLUHG+ROGLQJRQWRWKHRUDQJHKDQGZKHHODVVHPEO\ORRVHQWKHER[VFUHZ



1RWH2QFHWKLVER[VFUHZLVUHPRYHGDOORWKHULWHPVFDQEHSXOOHGDSDUWDOORZLQJWKHQ\ORQZDVKHUUXEEHURULQJDQGKDQGZKHHODVVHPEO\WREH
UHPRYHGDQGRUUHSODFHG:KHQUHDVVHPEOLQJWKHPHGLDYDOYHUHJUHDVHWKHRULQJZLWKD
JRRGTXDOLW\JUHDVH

& ',6$66(0%/,1* 5($66(0%/,1*$*9$8720$7,&
9$/9(67(0$66(0%/<3OHDVHUHIHUWRWKH(OFRPHWHU$*9GUDZLQJVLQ6HFWLRQ&
7RUHSODFHWKHHOFR728*+YDOYHOLQHUSOHDVHUHIHUWR6HFWLRQ&RQ
SDJHHQ

2QFHWKHPHGLDYDOYHKDVEHHQUHPRYHGIURPWKH$EUDVLYH%ODVW0DFKLQH VHH6HFWLRQ&RQSDJHHQ WRUHPRYHWKHDXWRPDWLFYDOYHVWHPDVVHPEO\ORRVHQDQGUHPRYHWKHEROWVWDNLQJFDUHQRWWRORVHWKHVSULQJZDVKHUV
8QVFUHZDQGUHPRYHWKHYDOYHKDQGZKHHO VKDIWIURPWKHDXWRPDWLFYDOYHDVVHPEO\DQGVHWDVLGH5HSODFHWKHUXEEHURULQJDVUHTXLUHG

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

$33(1',;&0(',$9$/9(6*90*9 $*9 FRQWLQXHG









3ODFHWKHUHPDLQGHURIWKHDXWRPDWLFYDOYHVWHPDVVHPEO\XSVLGH
GRZQLQDYLFHDQGILUPO\FODPSWKHDVVHPEO\XVLQJWKHPDFKLQHGIODWVORFDWHGRQWKHVLGHVRIWKHDFWXDWRUVSULQJKRXVLQJ
8VLQJD5XEEHU)LOWHU6WUDS:UHQFK SDUWQXPEHU07 
ORRVHQRIIEXWGRQRWUHPRYHWKHDFWXDWRUF\OLQGHU
5HPRYHWKHDXWRPDWLFYDOYHVWHPDVVHPEO\IURPWKHYLFHDQG
FDUHIXOO\UHPRYHWKHDFWXDWRUF\OLQGHUIURPWKHDFWXDWRUVSULQJKRXVLQJ
5HPRYHDQGRUUHSODFHDVUHTXLUHGWKHVSULQJDQGVWRSULQJ
7RUHSODFHDOORWKHULWHPVZLWKLQWKHDVVHPEO\LQFOXGLQJWKHSLVWRQRULQJWKHSLVWRQVHDODFWXDWRUSLVWRQDQGYDOYHSOXQJHUDWWDFKRQHVSDQQHUWRWKHSLVWRQQXWDQGDVHFRQGVSDQQHUWRWKHYDOYH
SOXQJHUDQGXQGRERWKLWHPVDWWKHVDPHWLPH5HSODFHLWHPVDVUHTXLUHG
:KHQUHDVVHPEOLQJWKHPHGLDYDOYHUHJUHDVHDOOWKHUXEEHU
RULQJVDQGVHDOVZLWKDJRRGTXDOLW\JUHDVH

HQ

ZZZHOFRPHWHUFRPEODVWLQJ

5

127(6

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

$33(1',;&0(',$9$/9(6*90*9 $*9 FRQWLQXHG& (/&20(7(5*9'5$:,1*6 3$576/,67
3DUW1XPEHU'HVFULSWLRQ*9%(OFRPHWHU*HQHUDO9DOYH *9 %637KUHDG

7HFKQLFDO6SHFL¿FDWLRQ2SHUDWLQJ7HPSHUDWXUH

&WR& )WR)0D[LPXP:RUNLQJ3UHVVXUHEDU SVL&RPSDWLEOHZLWK0RGHOV
+++





























HQ





ZZZHOFRPHWHUFRPEODVWLQJ5$33(1',;&0(',$9$/9(6*90*9 $*9 FRQWLQXHG& (/&20(7(5*9'5$:,1*6 3$576/,67 FRQWLQXHG(/&20(7(5*963$5(3$576,WHP

3DUW1XPEHU'HVFULSWLRQ07

(OFRPHWHU*96WHP)XOO$VVHPEO\07(OFRPHWHU*9+RXVLQJ%RG\*9/,1(5

HOFR728*+5XEEHU9DOYH/LQHUIRU*HQHUDO9DOYH*9/,1(5

HOFR728*+5XEEHU9DOYH/LQHUIRU*HQHUDO9DOYH [*9/,1(5

HOFR728*+5XEEHU9DOYH/LQHUIRU*HQHUDO9DOYH [07

(OFRPHWHU*9+DQGZKHHODQG6KDIW



07

(OFRPHWHU*96KDIW+RXVLQJ07

9DOYH1XW



07

(OFRPHWHU*93OXQJHU(/&20(7(5*96(59,&(.,76,WHP

3DUW1XPEHU'HVFULSWLRQ07

(OFRPHWHU*96HUYLFH.LW FRQWDLQVWKHLWHPVOLVWHGEHORZ0[=LQF3ODWHG+H[+HDG%ROW [06WHHO6SULQJ:DVKHU [0=LQF3ODWHG6WHHO1XW [07

(OFRPHWHU*96HUYLFH.LW FRQWDLQVWKHLWHPVOLVWHGEHORZ0=LQF3ODWHG6WHHO1XW [06WHHO6SULQJ:DVKHU [0=LQF3ODWHG6WHHO:DVKHU [0[=LQF3ODWHG+H[%ROW [07

(OFRPHWHU*96HUYLFH.LW FRQWDLQVWKHLWHPVOLVWHGEHORZ(OFRPHWHU*9,QGLFDWRU/DEHO

25LQJPP&RUG[,'0)ODW1\ORQ:DVKHU

06WHHO6SULQJ:DVKHU0[6WDLQOHVV6WHHO+H[6RFNHW&DS6FUHZ

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

$33(1',;&0(',$9$/9(6*90*9 $*9 FRQWLQXHG& (/&20(7(5*9'5$:,1*6 3$576/,67 FRQWLQXHG
3DUW1XPEHU'HVFULSWLRQ(OFRPHWHU*HQHUDO9DOYH *9 3XVKHU/LQH)XOO$VVHPEO\IRU

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV$OOVXSSOLHGFRPSOHWHZLWK3XVKHU/LQH0L[HU7(OFRPHWHU*HQHUDO9DOYH
*9 3RW)ODQJH3RW&RXSOLQJDQG$LUOLQH$VVHPEO\
7HFKQLFDO6SHFL¿FDWLRQ2SHUDWLQJ7HPSHUDWXUH

&WR& )WR)0D[LPXP:RUNLQJ3UHVVXUHEDU SVL



 













HQ





ZZZHOFRPHWHUFRPEODVWLQJ5$33(1',;&0(',$9$/9(6*90*9 $*9 FRQWLQXHG& (/&20(7(5*9'5$:,1*6 3$576/,67 FRQWLQXHG(/&20(7(5*9386+(5/,1(63$5(3$576,WHP

3DUW1XPEHU'HVFULSWLRQ(OFRPHWHU*9ò3XVKHU/LQH$VVHPEO\ EDUSVL
FRPSOHWHZLWK6ZDJHG+RVHIRU

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU $EUDVLYH%ODVW0DFKLQHV

07ò´&RQH0DOH0DOH$GDSWRU

07ò´0L[HU7

07ò´)RUJHG+H[1LSSOHOE

07ò´3RW&ODZ&RXSOLQJ



*9%

(OFRPHWHU*HQHUDO9DOYH *9 %637KUHDG

07ò´WR´5HGXFLQJ1LSSOH)ODQJH$VVHPEO\(/&20(7(5*9386+(5/,1(6(59,&(.,76,WHP

3DUW1XPEHU'HVFULSWLRQ07

(OFRPHWHU*96HUYLFH.LW FRQWDLQVWKHLWHPVOLVWHGEHORZ0[=LQF3ODWHG+H[%ROW [0=LQF3ODWHG6WHHO:DVKHU [0[=LQF3ODWHG+H[%ROW [0=LQF3ODWHG6WHHO1XW [ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

$33(1',;&0(',$9$/9(6*90*9 $*9 FRQWLQXHG& (/&20(7(50*9'5$:,1*6 3$576/,67
3DUW1XPEHU'HVFULSWLRQ

0*9%(OFRPHWHU0LQL*HQHUDO9DOYH 0*9 %637KUHDG

7HFKQLFDO6SHFL¿FDWLRQ2SHUDWLQJ7HPSHUDWXUH

&WR& )WR)0D[LPXP:RUNLQJ3UHVVXUHEDU SVL&RPSDWLEOHZLWK0RGHOV





























HQ



ZZZHOFRPHWHUFRPEODVWLQJ5$33(1',;&0(',$9$/9(6*90*9 $*9 FRQWLQXHG& (/&20(7(50*9'5$:,1*6 3$576/,67 FRQWLQXHG(/&20(7(50*963$5(3$576,WHP

3DUW1XPEHU'HVFULSWLRQ07

(OFRPHWHU0*96WHP)XOO$VVHPEO\07

(OFRPHWHU0*9+RXVLQJ%RG\

0*9/,1(5

HOFR728*+5XEEHU9DOYH/LQHUIRUò0LQL*HQHUDO9DOYH

0*9/,1(5

HOFR728*+5XEEHU9DOYH/LQHUIRUò0LQL*HQHUDO9DOYH [0*9/,1(5 HOFR728*+5XEEHU9DOYH/LQHUIRUò0LQL*HQHUDO9DOYH [07

(OFRPHWHU0*9+DQGZKHHODQG6KDIW



07

(OFRPHWHU0*96KDIW+RXVLQJ07

9DOYH1XW



07

(OFRPHWHU0*93OXQJHU(/&20(7(50*96(59,&(.,76,WHP

3DUW1XPEHU'HVFULSWLRQ07

(OFRPHWHU0*96HUYLFH.LW FRQWDLQVWKHLWHPVOLVWHGEHORZ0[=LQF3ODWHG+H[+HDG%ROW [06WHHO6SULQJ:DVKHU [0=LQF3ODWHG6WHHO1XW [07

(OFRPHWHU0*96HUYLFH.LW FRQWDLQVWKHLWHPVOLVWHGEHORZ0=LQF3ODWHG6WHHO1XW [06WHHO6SULQJ:DVKHU [0=LQF3ODWHG6WHHO:DVKHU [0[=LQF3ODWHG+H[%ROW [07

(OFRPHWHU0*96HUYLFH.LW FRQWDLQVWKHLWHPVOLVWHGEHORZ25LQJPP&RUG[,'(OFRPHWHU0*9,QGLFDWRU/DEHO0)ODW1\ORQ:DVKHU

06WHHO6SULQJ:DVKHU0[6WDLQOHVV6WHHO+H[6RFNHW&DS6FUHZ

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

$33(1',;&0(',$9$/9(6*90*9 $*9 FRQWLQXHG& (/&20(7(50*9'5$:,1*6 3$576/,67 FRQWLQXHG
3DUW1XPEHU'HVFULSWLRQ

07

(OFRPHWHU0LQL*HQHUDO9DOYH 0*9 3XVKHU/LQH)XOO$VVHPEO\IRU(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

6XSSOLHGFRPSOHWHZLWK3XVKHU/LQH0L[HU7(OFRPHWHU0LQL*HQHUDO9DOYH
0*9 3RW)ODQJH3RW&RXSOLQJDQG$LUOLQH$VVHPEO\
7HFKQLFDO6SHFL¿FDWLRQ2SHUDWLQJ7HPSHUDWXUH

&WR& )WR)0D[LPXP:RUNLQJ3UHVVXUHEDU SVL
















HQ





ZZZHOFRPHWHUFRPEODVWLQJ5$33(1',;&0(',$9$/9(6*90*9 $*9 FRQWLQXHG& (/&20(7(50*9'5$:,1*6 3$576/,67 FRQWLQXHG(/&20(7(50*9386+(5/,1(63$5(3$576,WHP

3DUW1XPEHU'HVFULSWLRQ07

(OFRPHWHU0*9ô3XVKHU/LQH$VVHPEO\ EDUSVL FRPSOHWHZLWK6ZDJHG+RVHIRU(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV07

ôWRò&RQH0DOH0DOH$GDSWRU07ò)ODQJHG(TXDO7$VVHPEO\07ò)RUJHG+H[1LSSOHOE

07

ò3RW&ODZ&RXSOLQJ



0*9%

(OFRPHWHU0LQL*HQHUDO9DOYH 0*9 %637KUHDG

07

óWRò5HGXFLQJ1LSSOH)ODQJH$VVHPEO\(/&20(7(50*9386+(5/,1(6(59,&(.,76,WHP

3DUW1XPEHU'HVFULSWLRQ07

(OFRPHWHU0*96HUYLFH.LW FRQWDLQVWKHLWHPVOLVWHGEHORZ0=LQF3ODWHG6WHHO:DVKHU [0[=LQF3ODWHG+H[%ROW [0=LQF3ODWHG6WHHO1XW [ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

$33(1',;&0(',$9$/9(6*90*9 $*9 FRQWLQXHG& (/&20(7(5$*9'5$:,1*6 3$576/,67
3DUW1XPEHU'HVFULSWLRQ$*9%(OFRPHWHU$XWRPDWLF*HQHUDO
9DOYH $*9 %637KUHDG

7HFKQLFDO6SHFL¿FDWLRQ2SHUDWLQJ7HPSHUDWXUH

&WR& )WR)0D[LPXP:RUNLQJ3UHVVXUHEDU SVL&RPSDWLEOHZLWK0RGHOV
+++







































HQ

ZZZHOFRPHWHUFRPEODVWLQJ5$33(1',;&0(',$9$/9(6*90*9 $*9 FRQWLQXHG& (/&20(7(5$*9'5$:,1*6 3$576/,67 FRQWLQXHG(/&20(7(5$*963$5(3$576,WHP

3DUW1XPEHU'HVFULSWLRQ*9$*9.,7(OFRPHWHU$*96WHP)XOO$VVHPEO\&DQDOVREHXVHGWRFRQYHUWDQ(OFRPHWHU*9WRDQ$*9



07(OFRPHWHU$*9+RXVLQJ%RG\*9/,1(5

HOFR728*+5XEEHU9DOYH/LQHUIRU$XWRPDWLF*HQHUDO9DOYH*9/,1(5

HOFR728*+5XEEHU9DOYH/LQHUIRU$XWRPDWLF*HQHUDO9DOYH [*9/,1(5

HOFR728*+5XEEHU9DOYH/LQHUIRU$XWRPDWLF*HQHUDO9DOYH [07(OFRPHWHU$*9+DQGZKHHODQG6KDIW



07(OFRPHWHU$*9$FWXDWRU6SULQJ+RXVLQJ07(OFRPHWHU$*9$FWXDWRU6SULQJ

07(OFRPHWHU$*9$FWXDWRU3LVWRQ07(OFRPHWHU$*9$FWXDWRU&\OLQGHU

07

(OFRPHWHU$*93OXQJHU6KDIW



07

(OFRPHWHU$*93OXQJHU(/&20(7(5$*96(59,&(.,76,WHP

3DUW1XPEHU'HVFULSWLRQ07

(OFRPHWHU$*96HUYLFH.LW FRQWDLQVWKHLWHPVOLVWHGEHORZ06WHHO6SULQJ:DVKHU [0[=LQF3ODWHG+H[+HDG%ROW [07

(OFRPHWHU$*96HUYLFH.LW FRQWDLQVWKHLWHPVOLVWHGEHORZ0=LQF3ODWHG6WHHO1XW [06WHHO6SULQJ:DVKHU [0=LQF3ODWHG6WHHO:DVKHU [0[=LQF3ODWHG+H[%ROW [07

(OFRPHWHU$*96HUYLFH.LW FRQWDLQVWKHLWHPVOLVWHGEHORZ0=LQF3ODWHG6WHHO1XW

06WHHO6SULQJ:DVKHU [07(OFRPHWHU$*96HUYLFH.LW FRQWDLQVWKHLWHPVOLVWHGEHORZ25LQJPP&RUG[,'(OFRPHWHU$*9,QGLFDWRU/DEHO

$FWXDWRU6WRS5LQJ



3LVWRQ6HDO2'PP,'PP

3LVWRQ6HDO2'PP,'PP

5RG:LSHU6HDOPP6KDIW



25LQJPP&RUG[,'ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

$33(1',;&0(',$9$/9(6*90*9 $*9 FRQWLQXHG& (/&20(7(5$*9'5$:,1*6 3$576/,67 FRQWLQXHG
3DUW1XPEHU'HVFULSWLRQ(OFRPHWHU$XWRPDWLF*HQHUDO9DOYH $*9 3XVKHU/LQH)XOO$VVHPEO\IRU

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV$OOVXSSOLHGFRPSOHWHZLWK3XVKHU/LQH0L[HU7(OFRPHWHU$XWRPDWLF*HQHUDO
9DOYH $*9 3RW)ODQJH3RW&RXSOLQJDQG$LUOLQH$VVHPEO\
7HFKQLFDO6SHFL¿FDWLRQ2SHUDWLQJ7HPSHUDWXUH

&WR& )WR)0D[LPXP:RUNLQJ3UHVVXUHEDU SVL

 


















HQ







ZZZHOFRPHWHUFRPEODVWLQJ5$33(1',;&0(',$9$/9(6*90*9 $*9 FRQWLQXHG& (/&20(7(5$*9'5$:,1*6 3$576/,67 FRQWLQXHG(/&20(7(5$*9386+(5/,1(63$5(3$576,WHP

3DUW1XPEHU'HVFULSWLRQ(OFRPHWHU$*9ò3XVKHU/LQH$VVHPEO\ EDUSVL FRPSOHWHZLWK6ZDJHG+RVHIRU

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU $EUDVLYH%ODVW0DFKLQHV07

ó&RQH0DOH0DOH$GDSWRU07

ò&RQH0DOH0DOH$GDSWRU

07

ò0L[HU7

07ò)RUJHG+H[1LSSOHOE

07

ò3RW&ODZ&RXSOLQJ$LUOLQH$VVHPEO\IRU

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV



$*9%

(OFRPHWHU$XWRPDWLF*HQHUDO9DOYH $*9 %637KUHDG

07

ó0DOH)HPDOH7$GDSWRU

07

òWR5HGXFLQJ1LSSOH)ODQJH$VVHPEO\(/&20(7(5$*9386+(5/,1(6(59,&(.,76,WHP

3DUW1XPEHU'HVFULSWLRQ07

(OFRPHWHU$*96HUYLFH.LW FRQWDLQVWKHLWHPVOLVWHGEHORZ0[=LQF3ODWHG+H[%ROW [0=LQF3ODWHG6WHHO:DVKHU [0[=LQF3ODWHG+H[%ROW [0=LQF3ODWHG6WHHO1XW [ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

127(6

HQ

ZZZHOFRPHWHUFRPEODVWLQJ

5$SSHQGL['(OFRPHWHU0HGLD9DOYHV)ODW9DOYH )90LQL)ODW9DOYH 0)9

6HFWLRQ

3DJH'(OFRPHWHU)9'UDZLQJV 3DUWV/LVW

HQ

'

(OFRPHWHU0)9'UDZLQJV 3DUWV/LVW

HQ

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

$33(1',;'0(',$9$/9(6)9 0)9' (/&20(7(5)9'5$:,1*6 3$576/,67
3DUW1XPEHU'HVFULSWLRQ)9%(OFRPHWHU)ODW9DOYH )9 %637KUHDG

7HFKQLFDO6SHFL¿FDWLRQ2SHUDWLQJ7HPSHUDWXUH

&WR& )WR)0D[LPXP:RUNLQJ3UHVVXUHEDU SVL&RPSDWLEOHZLWK0RGHOV
+++(/&20(7(5)963$5(3$576,WHP

3DUW1XPEHU'HVFULSWLRQ07

(OFRPHWHU)9/HYHO+DQGOH*XLGH07

(OFRPHWHU)9+DQGOH

07

(OFRPHWHU)97RS3ODWH

07

(OFRPHWHU)90LGGOH3ODWH

07

(OFRPHWHU)9%RWWRP&RYHU(/&20(7(5)96(59,&(.,76








,WHP

3DUW1XPEHU'HVFULSWLRQ07

(OFRPHWHU)96HUYLFH.LWFRQWDLQVWKHLWHPVOLVWHGEHORZ

6WHHO6DIHW\&OLS







6SULQJ+DQGOH3LQ







7RS3ODWH*DVNHW







*DVNHW [

6KXWRႇ3ODWHDQG6KDIW%RWWRP&RYHU*DVNHW07

(OFRPHWHU)96HUYLFH.LWFRQWDLQVWKHLWHPVOLVWHGEHORZ0:LQJ1XW

0:DVKHU [0[6SDFHU







0[%ROW







0/RQJ%ROW [0[%ROW [01XW [0:DVKHU [0[%ROW [0:DVKHU [







0:LQJ1XW [



HQ















ZZZHOFRPHWHUFRPEODVWLQJ5$33(1',;'0(',$9$/9(6)9 0)9' (/&20(7(5)9'5$:,1*6 3$576/,67 FRQWLQXHG
3DUW1XPEHU'HVFULSWLRQ(OFRPHWHU)ODW9DOYH )9 3XVKHU/LQH)XOO$VVHPEO\IRU

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV$OOVXSSOLHGFRPSOHWHZLWK3XVKHU/LQH0L[HU(OFRPHWHU)ODW9DOYH )9 3RW8QLRQ
3RW&RXSOLQJDQG$LUOLQH$VVHPEO\
7HFKQLFDO6SHFL¿FDWLRQ2SHUDWLQJ7HPSHUDWXUH

&WR& )WR)0D[LPXP:RUNLQJ3UHVVXUHEDU SVL










(/&20(7(5)9386+(5/,1(63$5(3$576







,WHP

3DUW1XPEHU'HVFULSWLRQ(OFRPHWHU)9ò3XVKHU/LQH$VVHPEO\ EDUSVL FRPSOHWHZLWK6ZDJHG+RVHIRU

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

07

(OFRPHWHU $EUDVLYH%ODVW0DFKLQHV07

òWRó&RQH0DOH0DOH$GDSWRU

07

ó(TXDO75XEEHU/LQHG

07ó)RUJHG+H[1LSSOHOE

07

ó3RW&ODZ&RXSOLQJ07

ó1LSSOH



)9%

(OFRPHWHU)ODW9DOYH )9 %637KUHDG

07

ó+H[1LSSOH

07

ó0DOH)HPDOH(TXDO8QLRQ7DSHU6HDW

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

$33(1',;'0(',$9$/9(6)9 0)9' (/&20(7(50)9'5$:,1*6 3$576/,67
3DUW1XPEHU'HVFULSWLRQ

0)9%(OFRPHWHU0LQL)ODW9DOYH 0)9 %637KUHDG

7HFKQLFDO6SHFL¿FDWLRQ2SHUDWLQJ7HPSHUDWXUH

&WR& )WR)0D[LPXP:RUNLQJ3UHVVXUHEDU SVL&RPSDWLEOHZLWK0RGHOV(/&20(7(50)963$5(3$576
,WHP

3DUW1XPEHU'HVFULSWLRQ07

(OFRPHWHU0)96KXW2ႇ9DOYH$VVHPEO\07

(OFRPHWHU0)9*DVNHW07

(OFRPHWHU0)9%RWWRP3ODWH(/&20(7(50)96(59,&(.,76


,WHP

3DUW1XPEHU'HVFULSWLRQ07

(OFRPHWHU0)96HUYLFH.LWFRQWDLQVWKHLWHPVOLVWHGEHORZ01XW [0:DVKHU [

03XVKHU:DVKHU [0[%ROW [

HQ





ZZZHOFRPHWHUFRPEODVWLQJ5$33(1',;'0(',$9$/9(6)9 0)9' (/&20(7(50)9'5$:,1*6 3$576/,67 FRQWLQXHG
3DUW1XPEHU'HVFULSWLRQ

07

(OFRPHWHU0LQL)ODW9DOYH 0)9 3XVKHU/LQH)XOO$VVHPEO\IRU
(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV

6XSSOLHGFRPSOHWHZLWK3XVKHU/LQH0L[HU(OFRPHWHU0LQL)ODW9DOYH 0)9 3RW)ODQJH
3RW&RXSOLQJDQG$LUOLQH$VVHPEO\
7HFKQLFDO6SHFL¿FDWLRQ2SHUDWLQJ7HPSHUDWXUH

&WR& )WR)0D[LPXP:RUNLQJ3UHVVXUHEDU SVL

















(/&20(7(50)9386+(5/,1(63$5(3$576,WHP

3DUW1XPEHU'HVFULSWLRQ07

(OFRPHWHU0)9ô3XVKHU/LQH$VVHPEO\ EDUSVL FRPSOHWHZLWK6ZDJHG+RVHIRU(OFRPHWHU$EUDVLYH%ODVW0DFKLQHV07

ôWRò&RQH0DOH0DOH$GDSWRU

07ò)ODQJHG(TXDO7



07ò)RUJHG+H[1LSSOHOE

07

ò3RW&ODZ&RXSOLQJ



0)9%

(OFRPHWHU0LQL)ODW9DOYH 0)9 %637KUHDG

07

ò1LSSOHPP/RQJ

07ò)HPDOH)HPDOH8QLRQ7DSHU6HDW07

óWRò5HGXFLQJ+H[1LSSOH

ZZZHOFRPHWHUFRPEODVWLQJ

HQ

5

70$,VVXH7H[WZLWKFRYHU