PQEdit™ User’s Guide - Capitalware's Home for IBM MQ ... · PDF file n CCC...

Preview:

Citation preview

PQEdit™ User’s GuideCandle Command Center® Admin Pac

for MQSeries™

Version 120

Document Number MD54-5413-0

March 1998

Candle Corporation2425 Olympic Boulevard

Santa Monica, California 90404-4030

2 Candle Command Center Admin Pac for MQSeries PQEdit User’s Guide

5HJLVWHUHGýWUDGHPDUNVýRIý&DQGOHý&RUSRUDWLRQãý$)î23(5$725ñý$)î3(5)250(5ñý$)î5(027(ñý$YDLODELOLW\ý&RPPDQGý&HQWHUñý&DQGOHý&RPPDQGý&HQWHUñý&DQGOHý(OHFWURQLFý&XVWRPHUý6XSSRUWñý&DQGOHý0DQDJHPHQWý6HUYHUñý&DQGOHý0DQDJHPHQWý:RUNVWDWLRQñý&DQGOHý7HFKQRORJLHVñý&/î&21)(5(1&(ñý&/î683(56(66,21ñý&7ñý&7î'DWDý6HUYHUñý&7î'6ñýü'%ñýü'%î48,&.&+$1*(ñý'(/7$021ñý20(*$&(17(5ñý20(*$021ñý20(*$021îHñý20(*$021 ,,ñý20(*$021ý0RQLWRULQJý$JHQWñý20(*$9,(:ñý20(*$9,(: ,,ñýDQGý7UDQVSOH[ï7UDGHPDUNVýRIý&DQGOHý&RUSRUDWLRQãý$OHUWý$GDSWHUñý$OHUWý$GDSWHUý3OXVñý$OHUWý(PLWWHUñý$06ñý$PV\Vñý$8720$7('ý)$&,/,7,(6ñý$YDLODELOLW\ý0DQDJHPHQWý6\VWHPVñý&DQGOHñý&&&ñý&,&$7ñý&/î(1*,1(ñý&/î*$7(:$<ñý&/î7(&+12/2*<ñý&06ñý&0:ñý&RPPDQGý÷ý&RQWUROñý&RQQHFWð1RWHVñý&RQQHFWð7ZRñý&6$ý$1$/<=(5ñý&7î$/6ñý&7î$SSOLFDWLRQý/RJLFý6HUYLFHVñý&7î'&6ñý&7î'LVWULEXWHGý&RPSXWLQJý6HUYLFHVñý&7î(QJLQHñý&7î,PSOHPHQWDWLRQý6HUYLFHVñý&7î,;ñý&7î:RUNEHQFKñý&7î:RUNVWDWLRQý6HUYHUñý&7î:6ñýü'%î'$6'ñýü'%î(;3/$,1ñýü'%î0,*5$725ñýü'%î48,&.&203$5(ñýü'%î608ñýü'%î7RROVñýü'%î:25.%(1&+ñý'HVLJQý1HWZRUNñý'(;$1ñý(QGðWRð(QGñý(QWHUSULVHý&DQGOHý&RPPDQGý&HQWHUñý(QWHUSULVHý&DQGOHý0DQDJHPHQWý:RUNVWDWLRQñý(3,/2*ñý(65$ñý+RVW%ULGJHñý,QWHOOL:DWFKñý0HVVDJLQJý0DVWHUHGñý04$'0,1ñý04(GLWñý04(;3(57ñý04021ñý046HFXUHñý049LHZñý1HWZRUNHGý$SSOLFDWLRQVñý20$ñý1HWZRUNHGý%XVLQHVVHVñý20&ý*DWHZD\ñý20&ý6WDWXVý0DQDJHUñý20(*$&(17(5ý%ULGJHñý20(*$&(17(5ý*DWHZD\ñý20(*$&(17(5ý6WDWXVý0DQDJHUñý20(*$021ý0DQDJHPHQWý&HQWHUñý260ñý3&ý&203$1,21ñý3HUIRUPDQFHý3DFñý3RZHU4ñý34&RQILJXUDWLRQñý34(GLWñý346FRSHñý57$ñý6ROXWLRQVýIRUý1HWZRUNHGý$SSOLFDWLRQVñý6ROXWLRQVýIRUý1HWZRUNHGý%XVLQHVVHVñý6WDWXVý0RQLWRUñýDQGý8QLILHGý'LUHFWRU\ý6HUYLFHVï6HUYLFHýPDUNVýRIý&DQGOHý&RUSRUDWLRQãý&(&6ï

3URGXFWVýDQGýWHUPVýXVHGýKHUHLQýPD\ýEHýWUDGHPDUNVýRUýUHJLVWHUHGýWUDGHPDUNVýRIýWKHLUýUHVSHFWLYHýKROGHUVïý7KLVýGRFXPHQWDWLRQýVHWýPD\ýFRQWDLQýUHIHUHQFHVýWRýVRPHýRUýDOOýRIýWKHýIROORZLQJýSURGXFWVï

5HJLVWHUHGýWUDGHPDUNVýRIý,QWHUQDWLRQDOý%XVLQHVVý0DFKLQHVý&RUSRUDWLRQãý$,;ñý$SSOLFDWLRQý6\VWHPîéííñý$6îéííñý%RRN0DQDJHUñý'%ëñý,%0ñý70(ýìíý1HW9LHZñý26îëñý26îéííñý6$$ñý6\VWHPVý$SSOLFDWLRQý$UFKLWHFWXUHñý6\VWHP9LHZñý6\VWHPý3HUIRUPDQFHý0RQLWRUîëñý7+(6(86ëñý90î(6$ñýDQGý97$0ï7UDGHPDUNVýRIý,QWHUQDWLRQDOý%XVLQHVVý0DFKLQHVý&RUSRUDWLRQãý$&)î97$0ñý&,&6ñý&,&6î(6$ñý&,&6î096ñý&,&6î96(ñý&,&6î7UDQVDFWLRQý6HUYHUýIRUý26îêäíý5HOHDVHýìñý&RPPRQý8VHUý$FFHVVñý&8$ñý'$7$%$6(ýëñý'DWD+XEñý')606ñý')606GISñý')606GVVñý')606KVPñý')606UPPñý(6$îêæíñý(6&21ñý*''0ñý+LSHUVSDFHñý,,1ñý,06î(6$ñý,QIRUPDWLRQý:DUHKRXVHñý046HULHVñý096î')3ñý096î(6$ñý096î63ñý096î;$ñý2IILFH9LVLRQñý2SHQ(GLWLRQñý35î60ñý40)ñý5$&)ñý90î;$ñý96(î(6$ñý96(î32:(5ñýDQGýêíäíï5HJLVWHUHGýWUDGHPDUNVýRIý&RPSXWHUý$VVRFLDWHVý,QWHUQDWLRQDOñý,QFïãý&$ð$&)ëñý&$ð'$7$&20ñý&$ð'$7$&20î'%ñý&$ð,'($/ñý&$ð723ý6(&5(7ñý,'06ñýDQGý526&2(ï7UDGHPDUNVýRIý&RPSXWHUý$VVRFLDWHVý,QWHUQDWLRQDOñý,QFïãý&$ð0$='$021ñý&$ðæñýDQGý706ï5HJLVWHUHGýWUDGHPDUNVýRIý6$6ý,QVWLWXWHñý,QFïãý6$6ñý6$6î*5$3+ñýDQGý6$6î(76ï7UDGHPDUNVýDQGýUHJLVWHUHGýWUDGHPDUNVýRIýRWKHUýFRPSDQLHVãý$FUREDWýDQGý$GREHýDUHýUHJLVWHUHGýWUDGHPDUNVýDQGýWKHý$FRUEDWý/RJRýLVýDýWUDGHPDUNýRIý$GREHý6\VWHPVý,QFRUSRUDWHGïý$'$%$6ýLVýDýWUDGHPDUNýRIý6RIWZDUHî$*ýRIý1RUWKý$PHULFDñý,QFïý$GYDQWLVýLVýDýWUDGHPDUNýRIý$GYDQWLVïý$%(1'ð$,'ýLVýDýWUDGHPDUNýRIý&RPSXZDUHñý,QFïý'(&ýDQGý'(&ý32/<&(17(5ýDUHýUHJLVWHUHGýWUDGHPDUNVýRIý'LJLWDOý(TXLSPHQWý&RUSRUDWLRQïý*(1(5î2/ýLVýDýUHJLVWHUHGýWUDGHPDUNýRIý3DQVRSKLFý6\VWHPVñý,QFïý+3ð8;ñý+3ý2SHQ9LHZñýDQGý+3ý2SHQ9LHZý,7î2SHUDWLRQVýDUHýWUDGHPDUNVýRIý+HZOHWWð3DFNDUGý&RPSDQ\ïý,QVWDOO6KLHOGýLVýDýUHJLVWHUHGýWUDGHPDUNýDQGýVHUYLFHýPDUNýRIý,QVWDOO6KLHOGý&RUSRUDWLRQïýý,Wý$OOý6WDUWVý+HUHýLVýDýWUDGHPDUNýRIý,QVWDOO6KLHOGý&RUSRUDWLRQïý.H\ý7URQLFýLVýDýUHJLVWHUHGýWUDGHPDUNýRIý.H\ý7URQLFý&RUSRUDWLRQïý/RWXVñýìðëðêñý/RWXVý1RWHVñýDQGý1RWHVý0DLOýDUHýUHJLVWHUHGýWUDGHPDUNVýDQGý1RWHVýLVýDýWUDGHPDUNýRIý/RWXVý'HYHORSPHQWý&RUSRUDWLRQïý0LOOHQQLXPýLVýDýUHJLVWHUHGýWUDGHPDUNýRIý'XQý÷ý%UDGVWUHHWý6RIWZDUHý6HUYLFHVñý,QFïý0XOWLð,PDJHý0DQDJHUýDQGý1HW6S\ýDUHýWUDGHPDUNVâýDQGý73;ýLVýDýUHJLVWHUHGýWUDGHPDUNýRIý/HJHQWñý,QFïý0XOWLSOHý'RPDLQý)DFLOLW\ýDQGý$PGDKOýDUHýWUDGHPDUNVýRIý$PGDKOý&RUSRUDWLRQïý0;*ýLVýDýUHJLVWHUHGýWUDGHPDUNýRIý0HUULOOý&RQVXOWDQWVïý1HW:DUHýDQGý1RYHOOýDUHýUHJLVWHUHGýWUDGHPDUNVýRIý1RYHOOñý,QFïý25$&/(ýLVýDýUHJLVWHUHGýWUDGHPDUNýRIý2UDFOHý&RUSRUDWLRQïý5RDG5XQQHUýDQGý0DHVWURýDUHýWUDGHPDUNVýRIý8QLVRQý6RIWZDUHïý6$3ýLVýDýUHJLVWHUHGýWUDGHPDUNýRIý6$3ý$*ñý5îêýLVýDýWUDGHPDUNýRIý6$3ý$*ñý$SSOLFDWLRQVýDQGý3URGXFWVýLQý'DWDý3URFHVVLQJïý6RODULVñý6XQ26ñýDQGý-DYDýDUHýWUDGHPDUNVýRIý6XQý0LFURV\VWHPVñý,QFïý6835$ýLVýDýUHJLVWHUHGýWUDGHPDUNýRIý&LQFRPý6\VWHPVñý,QFïý7DQGHPýLVýDýWUDGHPDUNýRIý7DQGHPý&RPSXWHUVñý,QFïý7LYROLý0DQDJHPHQWý(QYLURQPHQWýDQGý70(ýìíýDUHýWUDGHPDUNVýRIý7LYROLý6\VWHPVñýDQý,%0ý&RPSDQ\ïý8)2ýLVýDýUHJLVWHUHGýWUDGHPDUNýRIý2Qð/LQHý6RIWZDUHý,QWHUQDWLRQDOñý,QFïý81,;ýLVýDýUHJLVWHUHGýWUDGHPDUNýLQýWKHý8ï6ïýDQGýRWKHUýFRXQWULHVñýOLFHQVHGýH[FOXVLYHO\ýWKURXJKý;î2SHQý&RPSDQ\ý/WGïý86$'LUHFWýLVýDýUHJLVWHUHGýWUDGHPDUNýRIý$7÷7ïý906(&85(ýDQGý62/9(ã1HWPDVWHUýDUHýUHJLVWHUHGýWUDGHPDUNVýRIý6WHUOLQJý6RIWZDUHñý,QFïý:LQGRZVý17ýDQGý,QWHUQHWý([SORUHUýDUHýWUDGHPDUNVâýDQGý0LFURVRIWýDQGý:LQGRZVýDUHýUHJLVWHUHGýWUDGHPDUNVýRIý0LFURVRIWý&RUSRUDWLRQïý$OOýRWKHUýWUDGHPDUNVýDQGýUHJLVWHUHGýWUDGHPDUNVýDUHýWKHýSURSHUW\ýRIýWKHLUýUHVSHFWLYHýFRPSDQLHVï

&RS\ULJKWý�ýìääåñý&DQGOHý&RUSRUDWLRQïý$OOýULJKWVýUHVHUYHGïý,QWHUQDWLRQDOýULJKWVýVHFXUHGï

127,&(ãý7KLVýGRFXPHQWDWLRQýLVýSURYLGHGýZLWKý5(675,&7('ý5,*+76ïý8VHñýGXSOLFDWLRQñýRUýGLVFORVXUHýE\ýWKHý*RYHUQPHQWýLVýVXEMHFWýWRýUHVWULFWLRQVýVHWýIRUWKýLQýWKHýDSSOLFDEOHýOLFHQVHýDJUHHPHQWýDQGîRUýWKHýDSSOLFDEOHýJRYHUQPHQWýULJKWVýFODXVHï

Candle Command Center Admin Pac for MQSeries PQEdit User’s Guide 3

About this DocumentThis guide shows you how to use PQEdit© for MQSeries on systems running Windows 95, Windows NT™, OS/2®, AIX®, Solaris™, HP-UX™, or OS/390 (MVS). These instructions include:

n Starting PQEdit

n Opening a queue

n Editing in PQEdit including finding, replacing and filtering messages

n Creating a new queue

n Using PQEdit tools

n Managing queues

Installation Note:

If you are purchasing this product through IBM, in addition to the product you will receive an Installation Guide. If you are purchasing this product via the Internet, the installation and customization instructions are included in your Readme file.

n IBM bibliography

You may find the following IBM manuals useful when installing and configuring MQSeries and PQEdit.

7LWOH 2UGHUý1XPEHU

,QWHUDFWLYHý6\VWHPý3URGXFWLYLW\ý)DFLOLW\ý8VHUVöVý*XLGH 6&éêðééåéðíí

046HULHVý$SSOLFDWLRQý3URJUDPPLQJý*XLGH 6&êêðíåíæ

046HULHVý&OLHQWV *&êêðìçêë

046HULHVý&RPPDQGý5HIHUHQFH 6&êêðìêçä

046HULHVý3URJUDPPLQJý5HIHUHQFH 6&êêðìçæê

Preface

P

Candle Command Center Admin Pac for MQSeries

4 Candle Command Center Admin Pac for MQSeries PQEdit User’s Guide

Candle Command Center Admin Pac for MQSeriesCandle Command Center™ Admin Pac for MQSeries provides valuable functionality for every MQSeries user. The CCC Admin Pac for MQSeries combines specially engineered versions of Candle’s MQSeries reporting tool, CCC for MQSeries and Candle’s MQSeries configuration tool, CCC for MQSeries Configuration, which are bundled along with your PQEdit product.

To derive the maximum value from MQSeries implementations, users of CCC Admin Pac for MQSeries will be able to upgrade to Candle Command Center™ Management Pac for MQSeries which adds the following functionality:

n For CCC for MQSeries, visual programming for alerts, automation and integration with other Candle products

n For CCC for MQSeries Configuration, a multiple user interface, prototyping

n Candle full service support and maintenance

Preface 5

Customer Support

Customer Support

n CCC Admin Pac for MQSeries Customer Support

The Candle Command Center™ Admin Pac for MQSeries product does not include Candle Electronic Customer Support® (CECSSM), telephone support, or maintenance upgrades. However, you can obtain answers to frequently asked questions (FAQ) about the CCC Admin Pac for MQSeries from the Candle Web site at

http://www.candle.com/mq/admin_pac/faq

n CCC Management Pac for MQSeries Customer Support

If you choose to upgrade to the Candle Command Center™ Management Pac for MQSeries product, Candle provides electronic support and telephone support to assist you when you have questions about Candle products. In these cases, customer support is available 24 hours a day, seven days a week.

See the Candle Command Center Admin Pac for MQSeries Installation Guide for more information on upgrading to CCC Management Pac for MQSeries.

Documentation Set

6 Candle Command Center Admin Pac for MQSeries PQEdit User’s Guide

Documentation Set

n Introduction

Candle provides a complete set of documentation for Candle Command Center®

Admin Pac for MQSeries. Each manual in this documentation set contains a specific type of information to help you use the product.

Candle welcomes your comments and suggestions for changes or additions to the documentation set. A user comment form, located at the back of each manual, provides simple instructions for communicating with the Candle Information Development department.

Table 1. Documentation Set

Document Number Title Description

Z251-5412-0 Candle Command Center� Admin Pac for MQSeries Installation Guide

Contains installation and configuration instructions for Candle Command Center�Admin Pac for MQSeries on all supported platforms.

Z254-5434-0 Candle Command Center® Admin Pac for MQSeries User’s Guide

Describes how to set up session connections for monitoring, how to us the Admin Pac icons to create reports, and how to use the configuration interface to manage your MQSeries configuration.

Preface 7

Documentation Conventions

Documentation Conventions

n Introduction

Candle documentation adheres to accepted typographical conventions for command syntax. Conventions specific to Candle documentation are discussed in the following sections.

n Conventions

The windows and figures in this document are representative. Actual product windows may differ.

In examples of command syntax, uppercase letters are actual values (literals) that the user types; lowercase letters are used for variables that represent data supplied by the user.

n Platform Icons

Because PQEdit operates on both GUI platforms and under ISPF, the following symbols are used to label platform-specific documentation:

The platform symbols are used at the beginning of the section that includes the platform-specific text. All other sections apply to PQEdit regardless of operating environment.

,FRQ 3ODWIRUP

34(GLWýYHUVLRQVýGHVLJQDWHGýDVý*8,ýYHUVLRQVýLQFOXGHã

� 34(GLWýIRUý26îë

� 34(GLWýIRUý:LQGRZVý17î:LQGRZVýäè

� 34(GLWýIRUý81,;ýõ$,;ñý6RODULVñý+3ð8;ôï

7KHý34(GLWýYHUVLRQýGHVLJQDWHGýDVý34(GLWýIRUý096ýUXQVýXQGHUý26îêäíýõ096ôï

*8,

,63)

Documentation Conventions

8 Candle Command Center Admin Pac for MQSeries PQEdit User’s Guide

9

About this Document . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

Preface . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3Candle Command Center Admin Pac for MQSeries . . . . . . . . . . . . . . 4Customer Support. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5Documentation Set . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6Documentation Conventions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

Chapter 1. Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13Using PQEdit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15PQEdit and MQSeries Connections. . . . . . . . . . . . . . . . . . . . . . . . . . 17Queue Window (GUI environments) . . . . . . . . . . . . . . . . . . . . . . . . . 18Queue Window (ISPF) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22How Messages are Displayed Before and After Editing . . . . . . . . . . . 27

Chapter 2. Installing PQEdit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33Installing PQEdit (GUI) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34Installing PQEdit (ISPF). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38

Chapter 3. The FORMATS File . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43Formats File . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44Message-based Formatting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49How PQEdit Uses FORMATS.INI . . . . . . . . . . . . . . . . . . . . . . . . . . . 51How to Modify FORMATS.INI (GUI) . . . . . . . . . . . . . . . . . . . . . . . . . 52How to Modify the FORMATS Dataset (ISPF) . . . . . . . . . . . . . . . . . . 53

Chapter 4. Starting PQEdit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55Starting or Connecting to a Queue Manager . . . . . . . . . . . . . . . . . . . 56Starting PQEdit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57

Chapter 5. PQEdit and the MQI Client Connection . . . . . . . . . . . . . . . . . . 59Overview. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60

Contents

10 Candle Command Center Admin Pac for MQSeries PQEdit User’s Guide

MQI Clients and PQEdit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61Using Clients with PQEdit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62Setting Up Your Client Connection . . . . . . . . . . . . . . . . . . . . . . . . . . 64

Chapter 6. Opening a Queue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65The File Menu . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66Open Queue Dialog Box (GUI) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67Open Queue Panel (ISPF) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68Open Queue Fields . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 69How to Open a Queue (GUI) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73How to Open a Queue (ISPF) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74Editing Under Syncpoint Control. . . . . . . . . . . . . . . . . . . . . . . . . . . . 75

Chapter 7. Editing Queues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77The Edit Menu . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78Cut, Copy, and Paste Commands (GUI) . . . . . . . . . . . . . . . . . . . . . . 79 Insert and Delete Commands . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80Editing Options Under ISPF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 81Insert (I) Line Command . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83Replicate (R) Line Command . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86GO (G) Line Command . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 88Delete (D) Line Command . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89Zoom (Z) Line Command . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91

Chapter 8. Editing Messages in Hexadecimal . . . . . . . . . . . . . . . . . . . . . . . 95Field in Hex and Message in Hex Commands (GUI) . . . . . . . . . . . . . 96HexEdit (H) Line Command (ISPF) . . . . . . . . . . . . . . . . . . . . . . . . . 98

Chapter 9. Forwarding Messages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101Using the Forward Command (GUI) . . . . . . . . . . . . . . . . . . . . . . . . 102Forward (F) Line Command . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 104Using the Forward Command with Dead-letter Queues. . . . . . . . . . 106

Chapter 10. Finding and Changing Messages. . . . . . . . . . . . . . . . . . . . . . . 109Finding Message Data (GUI) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110Replacing Message Data (GUI) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112 Finding Message Data (ISPF) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 114

11

Changing Message Data (ISPF) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116Primary Commands for Finding and Changing Messages (ISPF) . . . 119Find Primary Command . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120Change Primary Command . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123

Chapter 11. Filtering Messages. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127Filtering Messages (GUI) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 128Building a Filter (GUI) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129How to Build a Filter (GUI) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 132 Filtering Messages (ISPF) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 133Building a Filter (ISPF) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 134How to Build a Filter (ISPF) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 138

Chapter 12. Creating a New Queue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 141New Queue Command . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 142Other Queue Properties - Local and Model Queues . . . . . . . . . . . . 145Other Queue Properties - Alias . . . . . . . . . . . . . . . . . . . . . . . . . . . . 151Other Queue Properties - Remote . . . . . . . . . . . . . . . . . . . . . . . . . . 152How to Create a New Queue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 153

Chapter 13. Printing a Queue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 155Page Setup and Printing in a GUI Environment. . . . . . . . . . . . . . . . 156Printing to an ISPF List Dataset . . . . . . . . . . . . . . . . . . . . . . . . . . . . 157

Chapter 14. Unloading and Loading Queues . . . . . . . . . . . . . . . . . . . . . . . 161Unload Command (GUI). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 162 Unload Command (ISPF). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 163Load Command (GUI) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 164Load Command (ISPF) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 165Using the Load and Unload Commands . . . . . . . . . . . . . . . . . . . . . 166Reordering Messages in a Queue (GUI). . . . . . . . . . . . . . . . . . . . . . 167Preserving the Order of Displayed Messages (ISPF). . . . . . . . . . . . . 168

Chapter 15. PQEdit Options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 169Setting PQEdit Options (GUI) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 170Setting PQEdit Options (ISPF). . . . . . . . . . . . . . . . . . . . . . . . . . . . . 173

12 Candle Command Center Admin Pac for MQSeries PQEdit User’s Guide

Appendix A. Messages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 177PQEdit Error Messages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 178PQEdit for MVS (OS/390) Error Messages. . . . . . . . . . . . . . . . . . . . 185MQSeries-related Messages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 187

Appendix B. PQEdit Shortcut Keys . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 189

Appendix C. Character Conversion. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 191

Appendix D. Installation Requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . 193

&DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH ìê

&KDSWHUýìï2YHUYLHZ

,QWURGXFWLRQ

7KLVýFKDSWHUýLQWURGXFHVý\RXýWRýWKHý34(GLWýSURGXFWñýH[SODLQVýNH\ýFRQFHSWVñýDQGýGHVFULEHVýKRZý34(GLWýLPSOHPHQWVý046HULHVýFRPPDQGVï

&KDSWHUý&RQWHQWV

8VLQJý34(GLWýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìè:K\ý34(GLW ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìè9LHZýGDWDýDQGýHGLWýGDWDýLQýDýVSUHDGVKHHWýIRUPDW ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìè0DQDJHýDOOýTXHXHVýLQWHUDFWLYHO\ ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìè6SHFLI\ýWKHýPHVVDJHVý\RXýZDQWýWRýVHHïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìç6SHHGýXSý046HULHVýDSSOLFDWLRQýWHVWLQJïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìç

34(GLWýDQGý046HULHVý&RQQHFWLRQV ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìæ&RQQHFWLRQýWRý046HULHVýFRPSRQHQWV ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìæ6WDUWLQJýWKHýORFDOýTXHXHýPDQDJHU ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìæ04,ýFOLHQWýFRQQHFWLRQVýõ*8,ýHQYLURQPHQWVýRQO\ôýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìæ

4XHXHý:LQGRZýõ*8,ýHQYLURQPHQWVô ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìå2UJDQL]DWLRQýRIýWKHý4XHXHýZLQGRZïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìå6HOHFWLQJýDýPHVVDJHýRUýWDEOHýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìä&ROXPQVïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýëí0HVVDJHýGHVFULSWRUV ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýëí0HVVDJHýGDWD ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýëí&ROXPQýKHDGLQJVýIRUýPXOWLSOHýOD\RXWýVSHFLILFDWLRQVïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýëì

4XHXHý:LQGRZýõ,63)ô ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýëë2UJDQL]DWLRQýRIýWKHý4XHXHýSDQHOïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýëë(GLWLQJýDýPHVVDJHýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýëê&ROXPQVïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýëé0HVVDJHýGHVFULSWRUV ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýëè0HVVDJHýGDWD ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýëè&ROXPQýKHDGLQJVýIRUýPXOWLSOHýOD\RXWýVSHFLILFDWLRQVïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýëç

+RZý0HVVDJHVýDUHý'LVSOD\HGý%HIRUHýDQGý$IWHUý(GLWLQJýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýëæ,QVHUWLRQV ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýëæ&KDQJHV ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýëä'HOHWLRQVýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýêí3DVWHGýPHVVDJHVýõ*8,ýHQYLURQPHQWVýRQO\ôïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýêí6\QFSRLQWýFRQWURO ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýêì

ì

ìé &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

3ULQWLQJýDýTXHXHýõ*8,ýHQYLURQPHQWVô ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýêì3ULQWLQJýDýTXHXHýõ,63)ô ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýêì

&KDSWHUýìïý2YHUYLHZ ìè

8VLQJý34(GLW

8VLQJý34(GLW

n :K\ý34(GLW

34(GLWýPHHWVýWKHýFKDOOHQJHVýRIýWKHý046HULHVýHQYLURQPHQWýE\ýHQDEOLQJý\RXýWRýSRSXODWHñýPDQLSXODWHñýDQGýYLHZýPHVVDJHVýLQýDýIDPLOLDUñýHDV\ðWRðXVHýIRUPDWïý,WýSURYLGHVýDQýLQWXLWLYHñýIDPLOLDUýLQWHUIDFHýIRUýLPPHGLDWHýDFFHVVýWRýPHVVDJHýGDWDï

34(GLWýKHOSVýRUJDQL]DWLRQVýJHWýWKHýPRVWýRXWýRIý046HULHVýE\ýVLPSOLI\LQJýWDVNVýUHTXLUHGýWRýJHWý\RXUý046HULHVýDSSOLFDWLRQVýWHVWHGýTXLFNO\ýDQGýHDVLO\ïý34(GLWýKHOSVý\RXýUDSLGO\ýPRYHýDSSOLFDWLRQVýIURPýGHYHORSPHQWýWRýSURGXFWLRQýE\ýVWUHDPOLQLQJýWKHýIXQGDPHQWDOñý\HWýWLPHðFRQVXPLQJýWDVNVýRIýFUHDWLQJýDQGýWHVWLQJýGDWDïý,WýOHWVý\RXýHDVLO\ýWHVWýSURJUDPýIXQFWLRQDOLW\ñýVHWýXSýûGXPP\ûýGDWDñýDQGýSRSXODWHýDQGýPDQLSXODWHýPHVVDJHVýLQýTXHXHVïý

n 9LHZýGDWDýDQGýHGLWýGDWDýLQýDýVSUHDGVKHHWýIRUPDW

34(GLWýVLPSOLILHVýYLHZLQJýDQGýHGLWLQJýRIýPHVVDJHVýE\ýXVLQJýDýVSUHDGVKHHWðVW\OHýIRUPDWýWKDWýRUJDQL]HVýPHVVDJHVýLQWRýDSSOLFDWLRQðGHILQHGýILHOGVïý34(GLWýSURYLGHVýIOH[LELOLW\ýZKHQýYLHZLQJýPHVVDJHVýDQGýDOORZVý\RXýWRýTXLFNO\ý]HURýLQýRQýSUREOHPVïý<RXýFDQýYLHZýERWKýWKHýPHVVDJHýGDWDýDQGýPHVVDJHýGHVFULSWRUïý34(GLWýHYHQýOHWVý\RXýYLHZýPHVVDJHýGDWDýLQýHLWKHUýKH[ýRUýDOSKDQXPHULFýIRUPDWãýQRýPRUHýSORZLQJýWKURXJKýFXPEHUVRPHýKH[ýGDWDýWRýORFDWHýLQIRUPDWLRQï

,Qý*8,ýHQYLURQPHQWVýVXFKýDVý:LQGRZVî17ñý34(GLWýXVHVýWKHýIDPLOLDUý*8,ýLQWHUIDFHïý3XOOðGRZQýPHQXVýDQGýGLDORJýER[HVýDOORZý\RXýWRýRSHQýDýTXHXHïý<RXýFDQýWKHQýEURZVHýRUýHGLWýPHVVDJHýGDWDýDVýQHFHVVDU\ýIRUý\RXUýSDUWLFXODUýDSSOLFDWLRQïý<RXýFDQýFUHDWHñýSRSXODWHñýDQGýPDQLSXODWHý\RXUýWHVWýPHVVDJHýTXHXHVýXVLQJýFRPPDQGVýOLNHý&XWñý&RS\ñýDQGý3DVWHïý<RXýFDQýDOVRýXVHýWKHý)LQGýDQGý5HSODFHýFRPPDQGVýWRýORFDWHýDQGýPRGLI\ýPHVVDJHýGDWDýTXLFNO\ï

8QGHUý,63)ñý34(GLWýPDWFKHVýWKHýIHDWXUHVýLQýDQý,63)ýHQYLURQPHQWýZLWKýOLQHýFRPPDQGVñýIXQFWLRQýNH\VñýDQGýRWKHUýêëæíýHGLWLQJýIHDWXUHVïý0RVWýRIýWKHýPHQXVñýILHOGVñýDQGýIXQFWLRQDOLW\ýDUHýFRPPRQýUHJDUGOHVVýRIýRSHUDWLQJýHQYLURQPHQWï

n 0DQDJHýDOOýTXHXHVýLQWHUDFWLYHO\

34(GLWýJLYHVý\RXýDýPRUHýHIILFLHQWýZD\ýWRýPDQDJHýDOOýRIý\RXUýTXHXHVñýLQFOXGLQJýWKHýGHDGðOHWWHUýTXHXHïý:LWKý34(GLWñý\RXýFDQýGLVSOD\ýDQGýHGLWýPHVVDJHVýLQýWKHýGHDGðOHWWHUýTXHXHñýDQGýSURFHVVýWKRVHýPHVVDJHVýLQWHUDFWLYHO\ïý<RXýFDQýUHWU\ýPHVVDJHVñýIRUZDUGýWRýDQRWKHUýTXHXHñýFRUUHFWýLQDFFXUDWHýPHVVDJHýGDWDñýRUýXQORDGýPHVVDJHVýWRýDýILOHýRUýGDWDVHWýIRUýIXWXUHýUHYLHZïý34(GLWýGRHVýDOOýWKLVýZKLOHýZRUNLQJýZLWKý\RXUýH[LVWLQJý046HULHVýVHFXULW\ï

8VLQJý34(GLW

ìç &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

n 6SHFLI\ýWKHýPHVVDJHVý\RXýZDQWýWRýVHH

6RPHWLPHVý\RXýRQO\ýZDQWýWRýVHHýDýVHOHFWHGýVXEVHWýRIýPHVVDJHVïý34(GLWýOHWVý\RXýIRFXVýRQO\ýRQýWKHýPHVVDJHVý\RXýZDQWýWRýVHHý¥ýTXLFNO\ïý<RXýFDQýUHWULHYHýRUýILOWHUýVSHFLILFýPHVVDJHVýIURPýWKHýTXHXHýEDVHGýRQýFULWHULDýWKDWý\RXýGHILQHïý<RXýFDQýEXLOGýH[WUHPHO\ýSRZHUIXOýILOWHUVýE\ýFRPELQLQJý$1'î25ýVWDWHPHQWVýZLWKýRWKHUýFULWHULDñýVXFKýDVýILHOGVýIURPýWKHýPHVVDJHýGDWDïý<RXýFDQýHYHQýVDYHýWKHVHýILOWHUVýIRUýODWHUýXVHïý0HVVDJHýILOWHUVýRQý34(GLWýZRUNýPXFKýOLNHýDQý64/ý6(/(&7ýVWDWHPHQWýIRUýPHVVDJHýTXHXHVï

n 6SHHGýXSý046HULHVýDSSOLFDWLRQýWHVWLQJý

34(GLWýDOVRýVLPSOLILHVýDSSOLFDWLRQýGHYHORSPHQWýE\ýOHWWLQJý\RXýWHVWýWKHýHIIHFWýRIýDýVHWýRIýPHVVDJHVïý<RXýFDQýHDVLO\ýEXLOGýDýVHWýRIýWHVWýPHVVDJHVýLQýDýTXHXHñýXQORDGýWKHPýLQWRýDýILOHñýDQGýWKHQýUXQýDýSURJUDPýXVLQJýWKHýPHVVDJHVýIURPýWKHýTXHXHïý$IWHUýPDNLQJýDQ\ýUHTXLUHGýFKDQJHVýWRýWKHýSURJUDPñý\RXýVLPSO\ýUHORDGýWKHýWHVWýPHVVDJHVýIURPýWKHýILOHýDQGýUHUXQýWKHýWHVWï

&KDSWHUýìïý2YHUYLHZ ìæ

34(GLWýDQGý046HULHVý&RQQHFWLRQV

34(GLWýDQGý046HULHVý&RQQHFWLRQVý

34(GLWýDOORZVý\RXýWRýHGLWýTXHXHVýXVLQJý\RXUýORFDOýTXHXHýPDQDJHUñýRUýLQý*8,ýHQYLURQPHQWVñý\RXýFDQýHGLWýQRQðORFDOýTXHXHVýXVLQJýDQý04,ýFOLHQWýFRQQHFWLRQï

n &RQQHFWLRQýWRý046HULHVýFRPSRQHQWV

,IýDýORFDOýTXHXHýPDQDJHUýLVýLQVWDOOHGýRQý\RXUýPDFKLQHñý\RXýFDQýFRQQHFWýWRýWKDWýTXHXHýPDQDJHUýWRýHGLWýORFDOýTXHXHVñýRUý\RXýFDQýHGLWýQRQðORFDOýTXHXHVýWKURXJKýDQý04,ýFOLHQWýFRQQHFWLRQïý<RXUýFRQQHFWLRQýPD\ýYDU\ýGHSHQGLQJýRQýWKHýSODWIRUPý\RXýDUHýXVLQJñýRUýWKHýDSSOLFDWLRQVý\RXýDUHýGHYHORSLQJýRUýWHVWLQJïý$ýFOLHQWýFRQQHFWLRQýLVýQRWýDYDLODEOHýXQGHUý,63)ï

n 6WDUWLQJýWKHýORFDOýTXHXHýPDQDJHU

%HIRUHý\RXýEHJLQýXVLQJý34(GLWñýLVVXHýWKHý046HULHVý675040ýFRPPDQGýWRýVWDUWýWKHýTXHXHýPDQDJHUñýDQGýWKHý67504&69ýFRPPDQGýWRýVWDUWýWKHýFRPPDQGýVHUYHUïý7KHýFRPPDQGýVHUYHUýLVýWKHý046HULHVýFRPSRQHQWýWKDWýDOORZVý34(GLWýWRýFUHDWHýQHZýTXHXHVýDQGýOLVWýWKHýTXHXHVýRIýDýSDUWLFXODUýTXHXHýPDQDJHUï

n 04,ýFOLHQWýFRQQHFWLRQVýõ*8,ýHQYLURQPHQWVýRQO\ô

7KHý04,ýFOLHQWýLVýDýFRPSRQHQWýRIý046HULHVýWKDWýFDQýEHýLQVWDOOHGýLQýDý*8,ýHQYLURQPHQWýZLWKRXWýLQVWDOOLQJýWKHýIXOOý046HULHVýTXHXHýPDQDJHUïý7KLVýHQDEOHVý\RXýWRýUXQý046HULHVýDSSOLFDWLRQVýWKDWýLQWHUDFWýZLWKýRQHýRUýPRUHýVHUYHUVýDQGýFRQQHFWýWRýWKHLUýTXHXHýPDQDJHUVïý7KHý04,ýFOLHQWýLVVXHVýFDOOVýWRýRQHýRUýPRUHýQRQðORFDOýVHUYHUVýXVLQJýDýFRPPXQLFDWLRQýOLQNïý$SSOLFDWLRQVýWKDWýUXQýXVLQJýWKHý04,ýFOLHQWýXVHýWKLVýFRPPXQLFDWLRQýOLQNýZKHQHYHUýWKHýDSSOLFDWLRQýPDNHVýDQý04ý6HUYHUýFDOOïý:KHQýWKHý046HULHVýDSSOLFDWLRQýLVVXHVýDýFDOOñýWKHý04,ýFOLHQWýVHQGVýWKHýUHTXHVWýWRýWKHýQRQðORFDOýTXHXHýPDQDJHUñýZKHUHýLWýLVýSURFHVVHGïý,Iý\RXýDUHýXVLQJý34(GLWýZLWKýDý04,ýFOLHQWýFRQQHFWLRQñýPDNHýVXUHý\RXýKDYHýDýYDOLGý046HULHVýFOLHQWýFKDQQHOýWRýWKHýQRQðORFDOýTXHXHýPDQDJHUï

)RUýPRUHýLQIRUPDWLRQýRQýXVLQJý34(GLWýZLWKý04,ýFOLHQWVñýVHHý&KDSWHUýèïý¦34(GLWýDQGýWKHý04,ý&OLHQWý&RQQHFWLRQï§ý

4XHXHý:LQGRZýõ*8,ýHQYLURQPHQWVô

ìå &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

4XHXHý:LQGRZýõ*8,ýHQYLURQPHQWVô

34(GLWöVýVSUHDGVKHHWðVW\OHý4XHXHýZLQGRZýLVýXVHGýWRýYLHZýDQGýPRGLI\ýPHVVDJHýGDWDýLQý34(GLWý*8,ýHQYLURQPHQWVïý0HVVDJHýGDWDýLVýRUJDQL]HGýLQWRýDSSOLFDWLRQðGHILQHGýILHOGVýWKDWýSURYLGHýDýPRUHýSURGXFWLYHýZD\ýRIýHGLWLQJýPHVVDJHVïý34(GLWýDOZD\VýGLVSOD\VýWKHýGDWDýRIýWKHýPHVVDJHýDQGýFDQýRSWLRQDOO\ýGLVSOD\ýLQIRUPDWLRQýLQýWKHýPHVVDJHýGHVFULSWRUï

n 2UJDQL]DWLRQýRIýWKHý4XHXHýZLQGRZ

7KHý4XHXHýZLQGRZýSURYLGHVýDýYLHZýRIýPHVVDJHýLQIRUPDWLRQýLQýZKLFKýURZVýRIýWKHýZLQGRZýUHSUHVHQWýPHVVDJHVýDQGýFROXPQVýUHSUHVHQWýILHOGVýLQýWKHýPHVVDJHýGDWDïýýý0HVVDJHVýDUHýEURNHQýLQWRýILHOGVýDFFRUGLQJýWRýWKHýGHILQLWLRQýRIýOD\RXWýVSHFLILFDWLRQVýLQý\RXUý)250$76ï,1,ýILOHïý,QIRUPDWLRQýLVýHQWHUHGýLQýILHOGVýDWýWKHýFXUUHQWO\ýDFWLYHýILHOGñýZKLFKýLVýLQGLFDWHGýE\ýWKHýKHDY\ýUHFWDQJOHýVXUURXQGLQJýWKHýILHOGï

&XUUHQWO\DFWLYHýILHOG

*8,

&KDSWHUýìïý2YHUYLHZ ìä

4XHXHý:LQGRZýõ*8,ýHQYLURQPHQWVô

n 6HOHFWLQJýDýPHVVDJHýRUýWDEOH

34(GLWýGLVSOD\VýDQGýQXPEHUVýPHVVDJHVýLQýWKHýRUGHUýWKDWýWKH\ýDSSHDUýLQýWKHýTXHXHïý

n 7RýYLHZýDOOýRIýWKHýPHVVDJHVýLQýWKHýTXHXHñýXVHýVFUROOýEDUVýRQýWKHýPHVVDJHýZLQGRZýDQGýPRYHýWKHýYLHZDEOHýDUHDýYHUWLFDOO\ýRUýKRUL]RQWDOO\ïý

n 7RýVHOHFWýPHVVDJHVñýFOLFNýRQýWKHýPHVVDJHýQXPEHUýODEHOýWRýKLJKOLJKWýDQýLQGLYLGXDOýPHVVDJHñýRUýGUDJýRQýVHYHUDOýODEHOVýWRýVHOHFWýPXOWLSOHýPHVVDJHVï

7RýKLJKOLJKWýDOOýRIýWKHýPHVVDJHVýLQýWKHýZLQGRZñýFOLFNýRQýWKHýUHFWDQJOHýLQýWKHýXSSHUýOHIWýFRUQHUýRIýWKHý4XHXHýZLQGRZýMXVWýDERYHýWKHýILUVWýPHVVDJHýQXPEHUï

<RXýFDQýWKHQýGHOHWHñýFXWñýFRS\ñýRUýIRUZDUGýWKHýKLJKOLJKWHGýPHVVDJHVïý)RUýPRUHýLQIRUPDWLRQñýVHHý&KDSWHUýæïý¦(GLWLQJý4XHXHVï§ý

+LJKOLJKWHGPHVVDJHVý

&OLFNýWRýKLJKOLJKWýPHVVDJHVýLQýWKHýTXHXHï

4XHXHý:LQGRZýõ*8,ýHQYLURQPHQWVô

ëí &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

n &ROXPQV

&ROXPQVýLQýWKHý4XHXHýZLQGRZýVKRZýWKHýPHVVDJHýGDWDýEURNHQýLQWRýILHOGVýDFFRUGLQJýWRýWKHýOD\RXWýVSHFLILFDWLRQVýLQý\RXUý)250$76ï,1,ýILOHïý34(GLWýUHDGVýWKHý)250$76ï,1,ýILOHýDQGýXVHVýLWýWRýGHWHUPLQHýHDFKýFROXPQöVýZLGWKýDQGýKHDGLQJïý&ROXPQVýPD\ýDOVRýGLVSOD\ýILHOGVýIURPýWKHýPHVVDJHýGHVFULSWRUïý

n 0HVVDJHýGHVFULSWRUV

7KHýPHVVDJHýGHVFULSWRUýLVýWKHýFRQWUROýLQIRUPDWLRQýLQFOXGHGýDVýSDUWýRIýDQý046HULHVýPHVVDJHïý:LWKý34(GLWñý\RXýFDQýXVHýWKHý2SWLRQVýFRPPDQGýIURPýWKHý7RROVýPHQXýWRýGHVLJQDWHýWKHýPHVVDJHýGHVFULSWRUýILHOGVýWRýGLVSOD\ïý,QýDGGLWLRQñý\RXýFDQýVSHFLI\ýWKHýRUGHUýRIýWKHýPHVVDJHýGHVFULSWRUýILHOGVýLQýWKHý4XHXHýZLQGRZýE\ýXVLQJýWKHý8SýDQGý'RZQýEXWWRQVýWRýVKLIWýWKHýRUGHUýRIýWKHýILHOGýQDPHVýLQýWKHýHGLWýER[ïý

n 0HVVDJHýGDWD

7KHýQXPEHUýRIýFROXPQVýXVHGýWRýGLVSOD\ýWKHýPHVVDJHýGDWDýSRUWLRQýRIýHDFKýPHVVDJHýLVýGHILQHGýLQý\RXUý)250$76ï,1,ýILOHïý

34(GLWýUHDGVýWKHý)250$76ï,1,ýILOHýDQGýWKHQýVHDUFKHVýIRUýDýOD\RXWýVSHFLILFDWLRQýWKDWýPDWFKHVýWKHýPHVVDJHïý:KHQý34(GLWýILQGVýDýPDWFKñýLWýGLVSOD\VýWKHýPHVVDJHýGLYLGHGýLQWRýILHOGVýDFFRUGLQJýWRý\RXUý)250$76ï,1,ýVSHFLILFDWLRQVïý,QýDGGLWLRQñý34(GLWýFDQýKDQGOHýPXOWLSOHýOD\RXWýVSHFLILFDWLRQVýLQýWKHýVDPHýTXHXHýZLWKýSURSHUýODEHOVýDQGýFRORUVýWRýGLVWLQJXLVKýPHVVDJHVýLQýRQHýVSHFLILFDWLRQýIURPýDQRWKHUï

0HVVDJHýGHVFULSWRUýILHOGýPDUNHGýIRUýGLVSOD\

&KDSWHUýìïý2YHUYLHZ ëì

4XHXHý:LQGRZýõ*8,ýHQYLURQPHQWVô

n &ROXPQýKHDGLQJVýIRUýPXOWLSOHýOD\RXWýVSHFLILFDWLRQV

6RPHWLPHVýDýVLQJOHýTXHXHýFDQýKDYHýPHVVDJHVýLQýVHYHUDOýGLIIHUHQWýIRUPDWVïý7RýVKRZýWKHVHýTXHXHVñý34(GLWýXVHVýFRORUýWRýGLVWLQJXLVKýEHWZHHQýPHVVDJHýIRUPDWVïý7KHýXVHýRIýFRORUýHQDEOHVý\RXýWRýDVVRFLDWHýHDFKýPHVVDJHýZLWKýWKHýFRUUHFWýFROXPQýKHDGLQJýIRUýWKHýPHVVDJHïý:KHQý34(GLWýGLVSOD\VýDýTXHXHñýLWýDVVLJQVýDýGLIIHUHQWýFRORUýWRýHDFKýPHVVDJHýIRUPDWýHQFRXQWHUHGýLQýWKHýTXHXHïý7KHýDVVLJQPHQWýRIýFRORUVýWRýDýSDUWLFXODUýIRUPDWýLVýQRWýIL[HGñýEXWýRFFXUVýG\QDPLFDOO\ýDVý34(GLWýILQGVýPHVVDJHVýIRUýWKHýOD\RXWýVSHFLILFDWLRQVýGHILQHGýLQýWKHý)250$76ï,1,ýILOHïý

)RUýH[DPSOHñýWKHýFROXPQýKHDGLQJýDQGýPHVVDJHýFRORUýRIýWKHýILUVWýPHVVDJHýIRUPDWýIRXQGýõ/LQHýìýFRORUôýPLJKWýEHýEODFNâýDQGýWKHýKHDGLQJýDQGýPHVVDJHýFRORUýRIýWKHýVHFRQGýPHVVDJHýIRUPDWýIRXQGýPLJKWýEHýJUHHQýõ/LQHýëýFRORUôïý,QýWKLVýZD\ñýWKHýOLQHýFRORUVýLQGLFDWHýZKLFKýVHWýRIýKHDGLQJVýWRýXVHýLQýYLHZLQJýDýPHVVDJHï

8VHýWKHý2SWLRQVýGLDORJýER[ýWRýDVVLJQýDýGHIDXOWýVHTXHQFHýRIýFROXPQýKHDGLQJýFRORUVïý)RUýH[DPSOHñý\RXýPD\ýZDQWýWRýXVHýUHGýLQVWHDGýRIýJUHHQýDVýWKHýFROXPQýKHDGLQJýFRORUýIRUýWKHýVHFRQGýPHVVDJHýIRUPDWýIRXQGïý,QýWKLVýFDVHý\RXýZRXOGýFKRRVHýUHGýDVýWKHý/LQHýëýFRORUïý)RUýPRUHýLQIRUPDWLRQýRQýKRZýWRýFKDQJHýFROXPQýKHDGLQJýFRORUVñýVHHý&KDSWHUýìèïý¦34(GLWý2SWLRQVï§ý

34(GLWýXVHVýDýVLPLODUýVFKHPHýWRýLGHQWLI\ýIRUPDWVýXQGHUý,63)ïý,QýWKLVýHQYLURQPHQWñýFROXPQýKHDGLQJýIRUPDWVýDUHýLGHQWLILHGýZLWKýDOSKDEHWLFDOýFKDUDFWHUVýLQýWKHýRUGHUýWKDWýWKHýFKDUDFWHUVýDSSHDUýLQýWKHý4XHXHýZLQGRZï

+HDGLQJýFRORUýDQGýIRUPDWýPDWFKHVýPHVVDJHýIRUPDWïý

4XHXHý:LQGRZýõ,63)ô

ëë &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

4XHXHý:LQGRZýõ,63)ô

7KHý4XHXHýSDQHOýLVýXVHGýWRýYLHZýDQGýPRGLI\ýPHVVDJHýGDWDýLQý34(GLWýXQGHUý,63)ïýSURGXFWLYHýZD\ýRIýHGLWLQJýPHVVDJHVïý34(GLWýDOZD\VýGLVSOD\VýWKHýGDWDýRIýWKHýPHVVDJHýDQGýFDQýRSWLRQDOO\ýGLVSOD\ýLQIRUPDWLRQýLQýWKHýPHVVDJHýGHVFULSWRUï

n 2UJDQL]DWLRQýRIýWKHý4XHXHýSDQHO

7KHý4XHXHýSDQHOýSURYLGHVýDýYLHZýRIýPHVVDJHýLQIRUPDWLRQýLQýZKLFKýURZVýRIýWKHýZLQGRZýUHSUHVHQWýPHVVDJHVýDQGýFROXPQVýUHSUHVHQWýILHOGVýLQýWKHýPHVVDJHýGDWDïýýý0HVVDJHVýDUHýEURNHQýLQWRýILHOGVýDFFRUGLQJýWRýWKHýGHILQLWLRQýRIýOD\RXWýVSHFLILFDWLRQVýLQý\RXUý)250$76ï,1,ýGDWDVHWïý<RXýPD\ýHQWHUýPHVVDJHýLQIRUPDWLRQýGLUHFWO\ýRQýHDFKýPHVVDJHýOLQHýRUýE\ýXVLQJýOLQHýFRPPDQGVï

ý)LOHýý6HDUFKýý7RROVýý+HOSýýðððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððýýýý34(GLWýðý,192,&(6B'ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý

ý&PGVãý,ý,QVýýý5ý5HSýýý)ý)ZGýýý+ýý+H[(GLWý0VJýýý=ýý,63)ý(GLWý0VJýýýýýýýýýýýýýýýýýýýýýýýýý'ý'HOýýý*ý*Rýýýýýýýýýýýý+Qý+H[(GLWý&ROýQý=Qý,63)ý(GLWý&ROýQýýýý0RUHãýýý!ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýìýýýýýýýýýëýýýýýýýýýýýýýýêýýý&PGý6WDWXVýýýýý0VJ7\SHýýý,QYïý,'ýýýýýýýý&RPSDQ\ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííìýýý'DWDJUDPýýýýéèèäýýýý(9ý(OHFWURQLFýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííëýýý'DWDJUDPýýýýèçèçýýýý(9ý(OHFWURQLFýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííêýýý'DWDJUDPýýýýééèçýýýý0XPIRUGý3LODVWHUýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííéýýý'DWDJUDPýýýýééèéýýýý;LURFý,QFïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííèýýý'DWDJUDPýýýýèèçæýýýý7ULRQý6SHHGýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííçýýý'DWDJUDPýýýýçççäýýýý3DUNHUð)OXPHý&RQVWïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóýý

0HVVDJHýOLQH

)LHOGýFROXPQ

,63)

&KDSWHUýìïý2YHUYLHZ ëê

4XHXHý:LQGRZýõ,63)ô

n (GLWLQJýDýPHVVDJH

34(GLWýGLVSOD\VýDQGýQXPEHUVýPHVVDJHVýLQýWKHýRUGHUýWKDWýWKH\ýDSSHDUýLQýWKHýTXHXHïý7RýPRGLI\ýDýPHVVDJHý\RXýFDQýRYHUW\SHýPHVVDJHýLQIRUPDWLRQýRUýPRGLI\ýPHVVDJHýOLQHVýXVLQJýOLQHýFRPPDQGVýWKDWýDUHýVLPLODUýWRý,63)ýOLQHýFRPPDQGVï

<RXýPD\ýDOVRýPRGLI\ýPHVVDJHVýXVLQJýSULPDU\ýFRPPDQGVýZKLFKý\RXýHQWHUýRQýWKHý&RPPDQGýOLQHïý3ULPDU\ýFRPPDQGVýDUHýHVVHQWLDOO\ýFRPPDQGýOLQHýHTXLYDOHQWVýIRUýPHQXýVHOHFWLRQVïý)RUýH[DPSOHñýWRý)LQGýWH[Wý\RXýHQWHUý),1'ýRQýWKHýFRPPDQGýOLQHïý&RPPDQGVýPD\ýEHýDEEUHYLDWHGýWRýWKHýILUVWýWKUHHýOHWWHUVýRIýWKHýFRPPDQGïý,QýDGGLWLRQñý\RXýFDQýXVHý3)ýNH\Vñý3)èýõ5ILQGôýDQGý3)çýõ5FKDQJHôñýWRýUHSHDWýWKHý),1'ýDQGý&+$1*(ýFRPPDQGVïý

ý)LOHýý6HDUFKýý7RROVýý+HOSýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýðððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððýýýý34(GLWýðý,192,&(6B'ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý&PGVãý,ý,QVýýý5ý5HSýýý)ý)ZGýýý+ýý+H[(GLWý0VJýýý=ýý,63)ý(GLWý0VJýýýýýýýýýýýýýýýýýýý'ý'HOýýý*ý*Rýýýýýýýýýýýý+Qý+H[(GLWý&ROýQý=Qý,63)ý(GLWý&ROýQýýýý0RUHãýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýìýýýýýýýýýëýýýýýýýýýýýýýýêýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý&PGý6WDWXVýýýýý0VJ7\SHýýý,QYïý,'ýýýýýýýý&RPSDQ\ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýLèýííííìýýý'DWDJUDPýýýýéèèäýýýý(9ý(OHFWURQLFýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííëýýý'DWDJUDPýýýýèçèçýýýý(9ý(OHFWURQLFýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííêýýý'DWDJUDPýýýýééèçýýýý0XPIRUGý3LODVWHUýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííéýýý'DWDJUDPýýýýééèéýýýý;LURFý,QFïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííèýýý'DWDJUDPýýýýèèçæýýýý7ULRQý6SHHGýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííçýýý'DWDJUDPýýýýçççäýýýý3DUNHUð)OXPHý&RQVWïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóó

5RZý&RPPDQGýFROXPQýZLWKý,QVHUWýFRPPDQG

4XHXHý:LQGRZýõ,63)ô

ëé &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

n &ROXPQV

&ROXPQVýLQýWKHý4XHXHýSDQHOýVKRZýWKHýPHVVDJHýGDWDýEURNHQýLQWRýILHOGVýDFFRUGLQJýWRýWKHýOD\RXWýVSHFLILFDWLRQVýLQý\RXUý)250$76ï,1,ýILOHïý34(GLWýUHDGVýWKHý)250$76ï,1,ýGDWDVHWýDQGýXVHVýLWýWRýGHWHUPLQHýHDFKýFROXPQöVýZLGWKýDQGýKHDGLQJïý&ROXPQVýPD\ýDOVRýGLVSOD\ýILHOGVýIURPýWKHýPHVVDJHýGHVFULSWRUï

'LVSOD\ýRIýILHOGVýLVýOLPLWHGýWRýDýéåðFKDUDFWHUýFROXPQýZLGWKïý)LHOGVñýVXFKýDVý04675ýILHOGVñýPD\ýH[FHHGýWKLVýZLGWKñýEXWýDýPD[LPXPýRIýéåýFKDUDFWHUVýRIýWKHýILHOGýFDQýEHýVKRZQýLQýWKHý4XHXHýZLQGRZïý7RýEURZVHýRUýHGLWýILHOGVýWKDWýH[FHHGýéåýFKDUDFWHUVñý\RXýFDQýXVHýWKHý]ýõ]RRPôýOLQHýFRPPDQGýRQýWKHý4XHXHýZLQGRZýWRýGLVSOD\ýDýPHVVDJHýRUýFROXPQýLQýWKHý,63)ýHGLWRUïý<RXýFDQýEURZVHñýFKDQJHñýRUýXVHýKH[DGHFLPDOýHGLWLQJýRQýILHOGVýLQýWKHý,63)ýHGLWRUïý)LHOGVýLQýWKLVýZLQGRZýPD\ýFRQWDLQýPXOWLSOHýæëðFKDUDFWHUýUHFRUGVýZLWKýSDUWLDOýILHOGVýILOOHGýZLWKýQXOOýFKDUDFWHUVïý)RUýPRUHýLQIRUPDWLRQñýVHHýWKHý=RRPýõ=ôý/LQHý&RPPDQGñýLQý&KDSWHUýæïý¦(GLWLQJý4XHXHVï§ý

ý)LOHýý6HDUFKýý7RROVýý+HOSýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýðððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððýýýý34(GLWýðý,192,&(6B'ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý&PGVãý,ý,QVýýý5ý5HSýýý)ý)ZGýýý+ýý+H[(GLWý0VJýýý=ýý,63)ý(GLWý0VJýýýýýýýýýýýýýýýýýýýýý'ý'HOýýý*ý*Rýýýýýýýýýýýý+Qý+H[(GLWý&ROýQý=Qý,63)ý(GLWý&ROýQýýýý0RUHãýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýìýýýýýýýýýëýýýýýýýýýýýýýýêýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý&PGý6WDWXVýýýýý0VJ7\SHýýý,QYïý,'ýýýýýýýý&RPSDQ\ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííìýýý'DWDJUDPýýýýéèèäýýýý(9ý(OHFWURQLFýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííëýýý'DWDJUDPýýýýèçèçýýýý(9ý(OHFWURQLFýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííêýýý'DWDJUDPýýýýééèçýýýý0XPIRUGý3LODVWHUýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííéýýý'DWDJUDPýýýýééèéýýýý;LURFý,QFïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííèýýý'DWDJUDPýýýýèèçæýýýý7ULRQý6SHHGýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííçýýý'DWDJUDPýýýýçççäýýýý3DUNHUð)OXPHý&RQVWïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóó

&ROXPQýQXPEHUýDQGýFROXPQýODEHOï

&KDSWHUýìïý2YHUYLHZ ëè

4XHXHý:LQGRZýõ,63)ô

n 0HVVDJHýGHVFULSWRUV

7KHýPHVVDJHýGHVFULSWRUýLVýWKHýFRQWUROýLQIRUPDWLRQýLQFOXGHGýDVýSDUWýRIýDQý046HULHVýPHVVDJHïý:LWKý34(GLWñý\RXýFDQýXVHýWKHý2SWLRQVýFRPPDQGýIURPýWKHý7RROVýPHQXýWRýGHVLJQDWHýDQ\ýPHVVDJHýGHVFULSWRUýILHOGVý\RXýZDQWýWRýGLVSOD\ïý7KHý2SWLRQVýVHOHFWLRQýGLVSOD\VýWKHý2SWLRQVýSDQHOï

<RXýFDQýDOVRýXVHýWKHý2SWLRQVýSDQHOýWRýVSHFLI\ýWKHýRUGHUýRIýWKHýPHVVDJHýGHVFULSWRUýILHOGVýLQýWKHý4XHXHýZLQGRZïý)RUýPRUHýLQIRUPDWLRQñýVHHý&KDSWHUýìèïý¦34(GLWý2SWLRQVï§ý

n 0HVVDJHýGDWD

7KHýQXPEHUýRIýFROXPQVýXVHGýWRýGLVSOD\ýWKHýPHVVDJHýGDWDýSRUWLRQýRIýHDFKýPHVVDJHýLVýGHILQHGýLQý\RXUý)250$76ï,1,ýILOHïý

34(GLWýUHDGVýWKHý)250$76ï,1,ýILOHñýWKHQýVHDUFKHVýIRUýDýOD\RXWýVSHFLILFDWLRQýWKDWýPDWFKHVýWKHýPHVVDJHïý:KHQý34(GLWýILQGVýDýPDWFKñýLWýGLVSOD\VýWKHýPHVVDJHýGLYLGHGýLQWRýILHOGVýDFFRUGLQJýWRý\RXUý)250$76ï,1,ýVSHFLILFDWLRQVïý,QýDGGLWLRQñý34(GLWýFDQýKDQGOHýPXOWLSOHýOD\RXWýVSHFLILFDWLRQVýLQýWKHýVDPHýTXHXHýZLWKýSURSHUýDOSKDEHWLFDOýODEHOVýWRýGLVWLQJXLVKýPHVVDJHVýLQýRQHýVSHFLILFDWLRQýIURPýDQRWKHUï

ïððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððð_ýýýýýýýýýýýýýýýýýýýýýýýýýýý34(GLWýðý2SWLRQVý5RZýìýWRýæýRIýëë__ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý0D[ý0VJVýWRý5HWULHYHýïýïýïýïýïýìíííýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý)RUPDWVý'DWDVHWý4XDOLILHUýýïýïý7'04,êï34(9ììíýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý)LOOý&KDUDFWHUýýýýýýýýýýýýýýýý6KRZý0VJ'HVFý)LHOGVýýýýýýýýýýýýýýýýýýý_ýìýýýìïýý%ODQNý)LOOýýýýýýýýýýýýêýýýìïýý6KRZý$OOý)LHOGVýýýýýýýýýýýýýýý_ýýýýýëïýý1XOOý)LOOýýýýýýýýýýýýýýýýýëïýý6KRZý1Rý)LHOGVýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýêïýý6SHFLI\ýE\ý)LHOGýýýýýýýýýýýýýý_ý&PGýý'LVSOD\ý"ýý0VJ'HVFý+HDGLQJýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý 5HSRUWýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýîýýýýýýýýýý0VJ7\SHýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýý([SLU\ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýîýýýýýýýýýý(QFRGLQJýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýý&RGHG&KDU6HWýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý

0DUNýWRýGLVSOD\ýPHVVDJHýGHVFULSWRUï

4XHXHý:LQGRZýõ,63)ô

ëç &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

n &ROXPQýKHDGLQJVýIRUýPXOWLSOHýOD\RXWýVSHFLILFDWLRQV

6RPHWLPHVýDýVLQJOHýTXHXHýFDQýKDYHýPHVVDJHVýLQýVHYHUDOýGLIIHUHQWýIRUPDWVïý7RýVKRZýWKHVHýTXHXHVñý34(GLWýXVHVýDOSKDEHWLFDOýFKDUDFWHUVýõ%ñý&ñýHWFïôýWRýGLVWLQJXLVKýEHWZHHQýDGGLWLRQDOýPHVVDJHýIRUPDWVïý7KLVýHQDEOHVý\RXýWRýDVVRFLDWHýHDFKýPHVVDJHýZLWKýWKHýFRUUHFWýFROXPQýKHDGLQJVýIRUýWKHýPHVVDJHïý:KHQý34(GLWýGLVSOD\VýDýTXHXHñýLWýDVVLJQVýDýGLIIHUHQWýOHWWHUýWRýHDFKýPHVVDJHýIRUPDWýHQFRXQWHUHGýLQýWKHýTXHXHïý8QGHUý,63)ñýWKHýDVVLJQPHQWýRIýOHWWHUVýWRýDýSDUWLFXODUýIRUPDWýRFFXUVýDVý34(GLWýHQFRXQWHUVýWKHýGLIIHUHQWýPHVVDJHýIRUPDWVýWKDWýDUHýGHILQHGýLQýWKHý)250$76ýGDWDVHWïý

)RUýH[DPSOHñýWKHý%ýLVýDVVLJQHGýWRýWKHýKHDGLQJýOLQHýDQGýPHVVDJHýIRUýWKHýVHFRQGýPHVVDJHýIRUPDWýIRXQGñýDQGý&ýLVýDVVLJQHGýWRýWKHýWKLUGýKHDGLQJýOLQHýDQGýPHVVDJHýIRUPDWýIRXQGïý,QýWKLVýZD\ñýWKHýOHWWHUVýODEHOLQJýHDFKýOLQHýLQGLFDWHýZKLFKýVHWýRIýKHDGLQJVýWRýXVHýLQýYLHZLQJýDýPHVVDJHï

ý)LOHýý6HDUFKýý7RROVýý+HOSýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýðððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððð34(GLWýðý,192,&(6B'ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý&PGVãý,ý,QVýýý5ý5HSýýý)ý)ZGýýý+ýý+H[(GLWý0VJýýý=ýý,63)ý(GLWý0VJýýýýýýýýýýýýýýýýýýýýýý'ý'HOýýý*ý*Rýýýýýýýýýýýý+Qý+H[(GLWý&ROýQý=Qý,63)ý(GLWý&ROýQýýýý0RUHãýýý!ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýìýýýýýýýýýýýëýýýýýýýýýýýýýýýýýêýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý)RUPDWýýýýýý,QYïý,'ýýýýýýýýýýý&RPSDQ\ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý%ýýýýýýýýýý,QYRLFHB1XPEHUýýýýýý,WHPB1XPEHUýýýýýýýýýýýýýýýýýýýýýýýýýý&PGý6WDWXVý&ýýýýýýýýýý,QYRLFHB1XPEHUýýýýý&DUULHUB1DPHýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííìýýýýýýýýýýýýéèèäýýýýýýýýýýý(9ý(OHFWURQLFýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííëýýýýýýýýýýýýééèéýýýýýýýýýýý;LURFý,QFïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííêýýýýýýýýýýýýèèçæýýýýýýýýýýý7ULRQý6SHHGýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííéýýýýýýýýýýýýçççäýýýýýýýýýýý3DUNHUð)OXPHý&RQVWïýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííèý%ý'21ëýýýýýëìéæéåêçéæýýýýýèåèåèæéýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííçý&ý'21êýýýýýçåêçéèèéýýýýýýý(9Oýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý

4XHXHýFRQWDLQVýKHDGLQJVýIRUýPHVVDJHVýLQýIRUPDWVý%ýDQGý&ï

&KDSWHUýìïý2YHUYLHZ ëæ

+RZý0HVVDJHVýDUHý'LVSOD\HGý%HIRUHýDQGý$IWHUý(GLWLQJ

+RZý0HVVDJHVýDUHý'LVSOD\HGý%HIRUHýDQGý$IWHUý(GLWLQJ

$OWKRXJKý34(GLWýGLVSOD\VýPHVVDJHVýLQýDýVSUHDGVKHHWðOLNHýIRUPDWñýLWýIROORZVýWKHý046HULHVýUXOHVýIRUýJHWWLQJýDQGýSXWWLQJýPHVVDJHVïý$VýPHVVDJHVýDUHýDGGHGýRUýPRGLILHGýWKH\ýDUHýSXWýWRýWKHýHQGýRIýWKHýTXHXHïý7KLVýWRSLFýH[SODLQVýWKHýUXOHVýWKDWýDSSO\ýZKHQýTXHXHVýDUHýXSGDWHGýDQGýKRZýPHVVDJHVýDSSHDUýLQýWKHý4XHXHýZLQGRZïý$OWKRXJKýWKHýDSSHDUDQFHýRIýWKHýTXHXHýPD\ýGLIIHUýGHSHQGLQJýRQýZKHWKHUý\RXýDUHýLQýDý*8,ýHQYLURQPHQWýRUýXQGHUý,63)ñý046HULHVýRUGHUVýPHVVDJHVýWKHýVDPHýZD\ï

046HULHVýGRHVýQRWýVXSSRUWýLQðSODFHýHGLWLQJýRIýTXHXHVïý0HVVDJHVýWKDWýDUHýLQVHUWHGýRUýFKDQJHGýDUHýSXWýWRýWKHýHQGýRIýWKHýTXHXHïý7RýDYRLGýDQQR\LQJýVFUROOLQJýDVý\RXýZRUNýZLWKýPHVVDJHVñý34(GLWýGLVSOD\VýLQVHUWHGýDQGýFKDQJHGýPHVVDJHVýZLWKýODEHOLQJýLQýWKHý4XHXHýZLQGRZýWRýLQGLFDWHýWKDWýPHVVDJHýLVýRXWýRIýVHTXHQFHïý:KHQýWKHýTXHXHýLVýUHUHDGñýWKHýLQVHUWHGýRUýFKDQJHGýPHVVDJHVýZLOOýDSSHDUýDWýWKHýHQGýRIýWKHýTXHXHýLQýWKHý4XHXHýZLQGRZï

n ,QVHUWLRQV

$IWHUý\RXýXVHýWKHý,QVHUWýFRPPDQGýIURPýWKHý(GLWýPHQXñýWKHýLQVHUWHGýPHVVDJHVýKDYHýDQý,3'ýõ,QVHUWý3HQGLQJôýVWDWXVýXQWLOý\RXýPRYHýIURPýWKHýFXUUHQWýURZï

,QVHUWHGýPHVVDJHýLVýODEHOHGý,3'ýIRUý,QVHUWý3HQGLQJï

+RZý0HVVDJHVýDUHý'LVSOD\HGý%HIRUHýDQGý$IWHUý(GLWLQJ

ëå &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

$Qý,3'ýODEHOýDSSHDUVýQH[WýWRýWKHýPHVVDJHýQXPEHUýRQýWKHýOHIWýVLGHýRIýWKHý4XHXHýZLQGRZïý:KHQý\RXýPRYHýWRýWKHýQH[WýPHVVDJHýLQýWKHýTXHXHñý34(GLWýPDUNVýWKHýPHVVDJHýZLWKýDQý,16ýODEHOïý7KHý,16ýODEHOýLQGLFDWHVýWKDWýWKHýPHVVDJHýKDVýEHHQýSXWýWRýWKHýHQGýRIýWKHýTXHXHï

0HVVDJHVýLQVHUWHGýLQýWKHý4XHXHýZLQGRZýDSSHDUýDIWHUýWKHýFXUUHQWýPHVVDJHïý$IWHUý\RXýUHIUHVKýWKHýTXHXHñýWKHýLQVHUWHGýPHVVDJHVýDUHýGLVSOD\HGýDWýWKHýHQGýRIýWKHýTXHXHïý,QýDýORQJýTXHXHñýLWýPD\ýDSSHDUýWKDWýQHZýRUýFKDQJHGýPHVVDJHVýDUHýUHPRYHGýIURPýWKHýTXHXHýDIWHUýWKHýTXHXHýLVýUHIUHVKHGïý,QýWKLVýFDVHñýVFUROOýWRýWKHýHQGýRIýWKHýTXHXHýWRýYLHZý\RXUýFKDQJHVï

7KHýIROORZLQJýLOOXVWUDWLRQýVKRZVýKRZýDQýLQVHUWHGýPHVVDJHýDSSHDUVýDWýWKHýHQGýRIýWKHýTXHXHýDIWHUýWKHý4XHXHýZLQGRZýLVýUHIUHVKHGï

,16ýLQGLFDWHVýWKHýLQVHUWHGýPHVVDJHýZDVýSXWýWRýWKHýHQGýRIýWKHýTXHXHï

,QVHUWHGýPHVVDJHýEHIRUHý5HIUHVK ,QVHUWHGýPHVVDJHýDIWHUý5HIUHVK

(QGýRIýTXHXH

,16ýLQGLFDWHVýWKDWýWKHýLQVHUWHGýPHVVDJHýZDVýSXWýWRýWKHýHQGýRIýWKHýTXHXHï

&KDSWHUýìïý2YHUYLHZ ëä

+RZý0HVVDJHVýDUHý'LVSOD\HGý%HIRUHýDQGý$IWHUý(GLWLQJ

7KHýIROORZLQJýLQIRUPDWLRQýVKRZVýWKHýHIIHFWýRIýDQýLQVHUWýZKHQý34(GLWýRSHUDWHVýXQGHUý,63)ï

n &KDQJHV

$Vý\RXýFKDQJHýPHVVDJHVýLQýDýTXHXHñýDý&+*ýODEHOýDSSHDUVýQH[WýWRýWKHýPHVVDJHýQXPEHUïý7KHý&+*ýODEHOýLQGLFDWHVýWKDWýWKHýRULJLQDOýPHVVDJHýZDVýGHOHWHGýDQGýWKHýFKDQJHGýPHVVDJHýZDVýSXWýWRýWKHýHQGýRIýWKHýTXHXHïý7KHý&+*ýUHPDLQVýXQWLOýWKHýTXHXHýLVýUHIUHVKHGñýRUýWKHýFKDQJHVýDUHýFRPPLWWHGýRUýUROOHGýEDFNýõZKLFKýDXWRPDWLFDOO\ýUHIUHVKHVýWKHý4XHXHýZLQGRZôïýýý&KDQJHGýPHVVDJHVýDUHýWKHQýGLVSOD\HGýDWýWKHýHQGýRIýWKHýTXHXHïý

$IWHUý\RXýKDYHýPDGHýDýQXPEHUýRIýFKDQJHVýWRýPHVVDJHVýLQýWKHý4XHXHýZLQGRZý\RXýPD\ýZDQWýWRýUHIUHVKýRUýFRPPLWý\RXUýTXHXHïý7KLVýXSGDWHVýWKHýGLVSOD\ýRIýPHVVDJHVýLQýWKHý4XHXHýZLQGRZýWRýUHIOHFWýWKHýFKDQJHVýWRýWKHýTXHXHï

)LOHýý6HDUFKýý7RROVýý+HOSýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýðððððððððððððððððððððððððððððððððððððððððððððððððððððððððýýýýýýýýýýýýýýýýýýýýýýýýý34(GLWýðý(GLWRUýIRUý046HULHVýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý5RZýýýýýýýýýýýýýýìýýýýýýýýýýëýýýýýýýýêýýýýýýýýýýýýýéýýýýýý&PGýý6WDWXVýýï4XDQWLW\ýýýï3ULFHýýýï6\PEROýýýýýýýï%URNHUýýýýýýýýííííìýýðéæìçææéçäýðéæêåéíèæçýýý$ýýýýýýýýýýýýý)2ýýýýýýýýýýýýýýýýýýýýýýýýýííííëýýðäæèèæäéêçýðéäíêéææìëýýý7ýýýýýýýýýýýýý'$ýýýýýýýýýýýýýýýýýý

ýýýýýýýð,16ðýýíýýýýýýýýýýíýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííéýýðäæèèæäéêçýðçéíëêëêåéýýý(ýýýýýýýýýýýýý7(ýýýýýýýýýýýýýýýýýýýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóó

)LOHýý6HDUFKýý7RROVýý+HOSýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýððððððððððððððððððððððððððððððððððððððððððððððððððððððððð

34(GLWýðý(GLWRUýIRUý046HULHVýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý5RZýýýýýýýýýýýýýýìýýýýýýýýýýëýýýýýýýýêýýýýýýýýýýýýýéýýýýýý&PGýý6WDWXVýýï4XDQWLW\ýýýï3ULFHýýýï6\PEROýýýýýýýï%URNHUýýýýýýýýííííìýýðéæìçææéçäýðéæêåéíèæçýýýý$ýýýýýýýýýýýý)2ýýýýýýýýýýýýýýýýýýýýýýýýýííííëýýðäæèèæäéêçýðéäíêéææìëýýýý7ýýýýýýýýýýýý'$ýýýýýýýýýýýýýýýýýýýýýýýýýííííêýýðäæèèæäéêçýðçéíëêëêåéýýýý(ýýýýýýýýýýýý7(ýýýýýýýýýýýýýýýýýý

ííííéýýéýýýýýýýýýýèýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóó

&+*ýLQGLFDWHVýWKDWýWKHýFKDQJHGýPHVVDJHýZDVýSXWýWRýWKHýHQGýRIýWKHýTXHXHï

+RZý0HVVDJHVýDUHý'LVSOD\HGý%HIRUHýDQGý$IWHUý(GLWLQJ

êí &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

7KHýIROORZLQJýLOOXVWUDWLRQýVKRZVýKRZýFKDQJHGýPHVVDJHVýDSSHDUýDWýWKHýHQGýRIýWKHý4XHXHýZLQGRZýDIWHUýUHIUHVKï

7KHýVDPHýSULQFLSOHýDSSOLHVýWRýFKDQJHGýTXHXHVýXQGHUý,63)ï

n 'HOHWLRQV

0HVVDJHVýWKDWýDUHýGHOHWHGýIURPýDýTXHXHýDUHýUHPRYHGýIURPýWKHýTXHXHýLPPHGLDWHO\ïý,Iý\RXýDUHýHGLWLQJýXQGHUýV\QFSRLQWýFRQWUROýDQGýWKHýGHOHWLRQVýKDYHýQRWýEHHQýFRPPLWWHGñý\RXýFDQýVHOHFWýWKHý5ROOEDFNýFRPPDQGýIURPýWKHý)LOHýPHQXýWRýUROOýEDFNý\RXUýGHOHWLRQVýDQGýUHVWRUHýWKHýPHVVDJHVïý'HOHWLRQVýSHUIRUPHGýZKLOHýQRWýXQGHUýV\QFSRLQWýFRQWUROýDUHýFRPPLWWHGýLPPHGLDWHO\ýDQGýFDQQRWýEHýUROOHGýEDFNï

n 3DVWHGýPHVVDJHVýõ*8,ýHQYLURQPHQWVýRQO\ô

3DVWHGýPHVVDJHVýDUHýSXWýWRýWKHýHQGýRIýWKHýTXHXHïý+RZHYHUñýLQýWKHý4XHXHýZLQGRZýWKHýSDVWHGýPHVVDJHVýDSSHDUýLQýWKHýURZýDIWHUýWKHýFXUUHQWO\ýDFWLYHýILHOGïý,Iý\RXýSDVWHýDýPHVVDJHñýLWýLVýPDUNHGýZLWKýDQý,16ýODEHOýXQWLOýWKHýTXHXHýLVýUHIUHVKHGýRUýFRPPLWWHGïý0HVVDJHVýSDVWHGýZKLOHýHGLWLQJýXQGHUýV\QFSRLQWýFRQWUROýFDQýEHýUROOHGýEDFNïý

(QGýRIýTXHXH

&KDQJHGýPHVVDJHVýEHIRUHý5HIUHVK &KDQJHGýPHVVDJHVýDIWHUý5HIUHVK

&KDSWHUýìïý2YHUYLHZ êì

+RZý0HVVDJHVýDUHý'LVSOD\HGý%HIRUHýDQGý$IWHUý(GLWLQJ

n 6\QFSRLQWýFRQWURO

34(GLWýRIIHUVýWKHýRSWLRQýRIýRSHQLQJýDýTXHXHýXQGHUýV\QFSRLQWýFRQWUROïý7KLVýSHUPLWVýDGGLWLRQVýRUýPRGLILFDWLRQVýWRýDýTXHXHýSULRUýWRýPDQXDOO\ýFRPPLWWLQJýWKHPï

,Iý\RXýGRýQRWýHGLWýXQGHUýV\QFSRLQWýFRQWUROñý\RXUýFKDQJHVýWRýDýTXHXHýWDNHýHIIHFWýLPPHGLDWHO\ïý7KHý5HIUHVKýFRPPDQGýIURPýWKHý)LOHýPHQXýVLPSO\ýUHIUHVKHVýWKHýGLVSOD\ýHYHQýWKRXJKýWKHýFKDQJHVýWRýWKHýTXHXHýKDYHýDOUHDG\ýWDNHQýSODFHïý$IWHUý\RXýFKRRVHýWKHý5HIUHVKýFRPPDQGýIURPýWKHý)LOHýPHQXñýWKHýGLVSOD\ýUHIOHFWVýWKHýDFWXDOýSRVLWLRQýRIýPHVVDJHVýLQýWKHýTXHXHïý)RUýPRUHýLQIRUPDWLRQýRQýKRZýV\QFSRLQWýZRUNVýZLWKý34(GLWñýVHHý&KDSWHUýçïý¦2SHQLQJýDý4XHXHï§ýýLQý¦(GLWLQJý8QGHUý6\QFSRLQWý&RQWUROï§

n 3ULQWLQJýDýTXHXHýõ*8,ýHQYLURQPHQWVô

<RXýFDQýSULQWýDýKDUGFRS\ýRIýWKHýPHVVDJHVýGLVSOD\HGýLQý34(GLWýLQýDý*8,ýHQYLURQPHQWïý$ý3DJHý6HWXSýFRPPDQGýLVýDYDLODEOHýRQýWKHý)LOHýPHQXýWRýDGMXVWýWKHýPDUJLQVýIRUýSULQWLQJýWKHýTXHXHïý<RXýFDQýDOVRýVKDGHýFROXPQýDQGýPHVVDJHýODEHOVýGXULQJýSULQWLQJï

1RWHãý7RýSULQWýXVLQJý34(GLWýLQýDý81,;ýHQYLURQPHQWñý\RXýPXVWýXVHýDý3RVW6FULSWýSULQWHUïý,Iý\RXýDUHýXVLQJý34(GLWýRQýDýQHWZRUNñýPDNHýVXUHýWKDWý\RXýRUý\RXUýV\VWHPýDGPLQLVWUDWRUýGLUHFWVý34(GLWýSULQWýMREVýWRýDý3RVW6FULSWýSULQWHUï

n 3ULQWLQJýDýTXHXHýõ,63)ô

<RXýFDQýSULQWýDýKDUGFRS\ýRIýWKHýPHVVDJHVýGLVSOD\HGýLQý34(GLWïý$ý3DJHý6HWXSýFRPPDQGýLVýDYDLODEOHýRQýWKHý)LOHýPHQXýWRýDGMXVWýWKHýPDUJLQVýIRUýSULQWLQJýWKHýTXHXHïý34(GLWýODEHOVýPHVVDJHýILHOGVýõFROXPQVôýGXULQJýSULQWLQJï

+RZý0HVVDJHVýDUHý'LVSOD\HGý%HIRUHýDQGý$IWHUý(GLWLQJ

êë &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

&DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH êê

&KDSWHUýëï,QVWDOOLQJý34(GLW

,QWURGXFWLRQ

7KLVýFKDSWHUýVKRZVýKRZýWRýLQVWDOOý34(GLWýDQGýH[SODLQVýKRZýWRýFXVWRPL]HýWKHýDSSOLFDWLRQýIRUý\RXUýPHVVDJLQJýHQYLURQPHQWïýý,QVWDOODWLRQýLQVWUXFWLRQVýDUHýLQFOXGHGýIRUýWKHýIROORZLQJãý

n 34(GLWýIRUý26îë

n 34(GLWýIRUý:LQGRZVý17î:LQGRZVýäè

n 34(GLWýIRUý$,;

n 34(GLWýIRUý096ýõ26îêäíô

n 34(GLWýIRUý6RODULV

n 34(GLWýIRUý+3ð8;

&KDSWHUý&RQWHQWV

,QVWDOOLQJý34(GLWýõ*8,ô ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýêé34(GLWýIRUý26îë ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýêé34(GLWýIRUý:LQGRZVý17ýDQGý:LQGRZVýäè ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýêé34(GLWýIRUý81,;ýõ$,;ñý6RODULVñý+3ð8;ô ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýêè

,QVWDOOLQJý34(GLWýõ,63)ôïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýêå34(GLWýIRUý096ýõ26îêäíô ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýêå

ë

,QVWDOOLQJý34(GLWýõ*8,ô

êé &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

,QVWDOOLQJý34(GLWýõ*8,ô

8VHýWKHýIROORZLQJýLQVWDOODWLRQýLQVWUXFWLRQVýIRUýWKHý*8,ýSODWIRUPý\RXýDUHýLQVWDOOLQJïýý$YDLODEOHý*8,ýSODWIRUPVýLQFOXGHã

n 34(GLWýIRUý26îë

n 34(GLWýIRUý:LQGRZVý17î:LQGRZVýäè

n 34(GLWýIRUý81,;ýõ$,;ñý6RODULVñý+3ð8;ô

'HSHQGLQJýRQýZKHWKHUý\RXýDUHýLQVWDOOLQJý34(GLWýIURPýWKHý,QWHUQHWýRUýGLVNHWWHñý\RXýGRZQORDGýDQGýXQ]LSýWKHýDSSOLFDWLRQýILOHVýRUýFRS\ýWKHPýIURPýDýGLVNHWWHï

n 34(GLWýIRUý26îë

8VHýWKLVýSURFHGXUHýWRýLQVWDOOý34(GLWýIRUý26îëïýý34(GLWýIRUý26îëýUHTXLUHVý26îëý:DUSïý

6WHSýìï &KRRVHýHLWKHUýRIýWKHýIROORZLQJã

n ,Iý\RXýDUHýLQVWDOOLQJý34(GLWýIURPýWKHý,QWHUQHWñýGRZQORDGýWKHý34(GLWý26îëý]LSýILOHýLQWRýDýWHPSRUDU\ýGLUHFWRU\ýDQGýXQ]LSï

n ,Iý\RXýDUHýLQVWDOOLQJý34(GLWýIURPýGLVNHWWHñýFRS\ýWKHý34(GLWý26îëý]LSýILOHVýIURPýWKHýGLVNHWWHýLQWRýDýWHPSRUDU\ýGLUHFWRU\ýDQGýXQ]LSï

6WHSýëï 5XQýWKHýLQVWDOOïH[HýSURJUDPýIURPýWKHýWHPSRUDU\ýGLUHFWRU\ï

$IWHUýWKHý34(GLWýLQVWDOODWLRQýFRPSOHWHVñýHGLWýWKHý.(<ï7;7ýILOHýLQýWKHýSTHGLWýGLUHFWRU\ïý5HSODFHýWKHýëíðGLJLWýNH\ýZLWKý\RXUýWULDOýNH\ýDQGýVDYHýWKHýILOHï

6WHSýêï 34(GLWýLVýQRZýUHDG\ýWRýUXQïýý&OLFNýRQýWKHý34(GLWýLFRQýWRýUXQýWKHýSURJUDPï

n 34(GLWýIRUý:LQGRZVý17ýDQGý:LQGRZVýäè

8VHýWKLVýSURFHGXUHýWRýLQVWDOOý34(GLWýIRUý:LQGRZVý17ýDQGý:LQGRZVýäèïýý34(GLWýLVýDYDLODEOHýDVýYHUVLRQVýIRUý17ýêïèìýõ34(17êèìï(;(ôýDQGý17ýéïíî:LQGRZVýäèýõ34(17éíï(;(ôïýý%RWKýYHUVLRQVýDUHýVHOIðH[WUDFWLQJýILOHVï

6WHSýìï &KRRVHýHLWKHUýRIýWKHýIROORZLQJã

n ,Iý\RXýDUHýLQVWDOOLQJý34(GLWýIURPýWKHý,QWHUQHWñýGRZQORDGýWKHýFRUUHFWýYHUVLRQñýQRWHGýDERYHñýLQWRýDýWHPSRUDU\ýGLUHFWRU\ïý

n ,Iý\RXýDUHýLQVWDOOLQJý34(GLWýIURPýGLVNHWWHñýFRS\ýWKHý34(GLWý]LSýILOHýIURPýWKHýGLVNHWWHýLQWRýDýWHPSRUDU\ýGLUHFWRU\ýDQGýXQ]LSï

6WHSýëï 'RXEOHðFOLFNýWKHý34(17êèìï(;(ýRUý34(17éíï(;(ýILOHýRUýXVHý5XQýIURPýWKHý6WDUWýPHQXýWRýEHJLQýWKHýH[WUDFWLRQýDQGýVHWXSýSURFHVVïýý

6WHSýêï $IWHUýWKHý34(GLWýLQVWDOODWLRQýFRPSOHWHVñýHGLWýWKHý.(<ï7;7ýILOHýLQýWKHýSTHGLWýGLUHFWRU\ïý5HSODFHýWKHýëíðGLJLWýNH\ýZLWKý\RXUýWULDOýNH\ýDQGýVDYHýWKHýILOHïý34(GLWýLVýQRZýUHDG\ïýýý&OLFNýWKHý34(GLWýLFRQýWRýUXQýWKHýSURJUDPý

&KDSWHUýëïý,QVWDOOLQJý34(GLW êè

,QVWDOOLQJý34(GLWýõ*8,ô

n 34(GLWýIRUý81,;ýõ$,;ñý6RODULVñý+3ð8;ô

8VHýWKLVýSURFHGXUHýWRýLQVWDOOý34(GLWýIRUý81,;ýSODWIRUPVïý7KHýILUVWýVL[ýVWHSVýDUHýJHQHUDOý81,;ýLQVWDOODWLRQýLQVWUXFWLRQVïýý7KHýUHPDLQLQJýVWHSýLVýVSHFLILFýWRýLQGLYLGXDOý81,;ýHQYLURQPHQWVï

1RWHãý$Qý;ð:LQGRZVýHPXODWRUýLVýUHTXLUHGýIRUýDOOý81,;ýSODWIRUPVï

34(GLWýIRUý$,;ýUHTXLUHVý$,;ý9éïìýDQGýWKHý/,%69/'ï$ýOLEUDU\ï

6WHSýìï &UHDWHýDýGLUHFWRU\ýWRýKROGýWKHý34(GLWýILOHVý\RXýDUHýDERXWýWRýLQVWDOOïý:HUHFRPPHQGýXVLQJýîXVUîSTHGLWýRUýîXVUîOSSîSTHGLWýDVýWKHý34(GLWýGLUHFWRU\ïý

6WHSýëï &KRRVHýHLWKHUýRIýWKHýIROORZLQJã

n ,Iý\RXýDUHýLQVWDOOLQJý34(GLWýIURPýWKHý,QWHUQHWñýGRZQORDGýWKHý34(GLWý$,;ýWDUýILOHýLQWRýWKHýGLUHFWRU\ý\RXýFUHDWHGýLQýVWHSýìýDQGýQDPHýWKHýILOHã

STHGLWïWDUï=

n ,Iý\RXýDUHýLQVWDOOLQJý34(GLWýIURPýGLVNHWWHñýFRS\ýWKHý34(GLWý$,;ýWDUýILOHýIURPýWKHýGLVNHWWHýLQWRýWKHýGLUHFWRU\ý\RXýFUHDWHGýLQýVWHSýìýDQGýQDPHýWKHýILOHã

pqedit.tar.Z

6WHSýêï &KDQJHý\RXUýFXUUHQWýGLUHFWRU\ýWRýWKHý34(GLWýGLUHFWRU\ï

6WHSýéï ([HFXWHýWKHýIROORZLQJýFRPPDQGãý

XQFRPSUHVVýðFýSTHGLWïWDUï=ý_ýWDUýð[YIýð

6WHSýèï $IWHUýWKHý34(GLWýH[WUDFWLRQýFRPSOHWHVñýHGLWýWKHý.(<ï7;7ýILOHýLQýWKHýSTHGLWýGLUHFWRU\ïý5HSODFHýWKHýëíðGLJLWýNH\ýZLWKý\RXUýWULDOýNH\ýDQGýVDYHýWKHýILOHï

6WHSýçï 34(GLWýLVýQRZýUHDG\ýWRýUXQïý(QWHUýïîSTHGLWýWRýUXQýWKHýSURJUDPïý<RXýFDQýDOVRýDGGýWKHý34(GLWýGLUHFWRU\ýWRý\RXUý3$7+ýHQYLURQPHQWýYDULDEOHïý&RQVXOWýZLWKý\RXUýV\VWHPýDGPLQLVWUDWRUýIRUýLQVWUXFWLRQVýRQýKRZýWRýGRýWKLVïý

6WHSýæï )ROORZýWKHVHýDGGLWLRQDOýLQVWUXFWLRQVýIRUýWKHý81,;ýSODWIRUPýZKHUHý\RXýZLOOýUXQý34(GLWïýý*RýWRýWKHýDSSURSULDWHýVXEðSURFHGXUHã

n $,;

n +3ð8;

n 6RODULV

$,;

%HýVXUHý\RXýDUHýXVLQJýYHUVLRQýéïìýRUýKLJKHUïý7KHUHýDUHýQRýSODWIRUPðVSHFLILFýLQVWUXFWLRQVï

*8,

,QVWDOOLQJý34(GLWýõ*8,ô

êç &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

+3ð8;

&UHDWHýOLQNVýIURPýWKHý34(GLWýGLUHFWRU\ýWRýWKHý046HULHVýVKDUHGýOLEUDU\ýGLUHFWRU\ýXVHGýE\ý34(GLWýE\ýH[HFXWLQJýWKHýIROORZLQJýWZRýFRPPDQGVýIURPýWKHý34(GLWýGLUHFWRU\ã

OQýðVýîRSWîPTPîOLEîOLEPTPïVOýOLEPTPïVO

OQýðVýîRSWîPTPîOLEîOLEPTLFïVOýOLEPTLFïVO

,IýWKHýILOHVýOLEPTPïVOýDQGýOLEPTLFïVOýDUHýQRWýLQVWDOOHGýXQGHUýîRSWîPTPîOLEý\RXýFDQýILQGýWKHPýZLWKýWKHýFRPPDQGã

ILQGýîýðQDPHýöOLEPTóïVOöýðSULQW

DQGý\RXýFDQýWKHQýUHSODFHýWKHýH[DPSOHýILOHVSHFVýZLWKýWKHýDFWXDOýRQHVï

1RWHãý 7KHýOQýFRPPDQGVýRQO\ýQHHGýWRýEHýH[HFXWHGýRQFHïý,IýKRZHYHUñýWKHýOLQNVýHYHUýJHWýGHOHWHGñý\RXýFDQýUHFUHDWHýWKHPýXVLQJýWKHýVDPHýOQýFRPPDQGVýVKRZQýDERYHï

6RODULV

$GGýîXVUîGWîOLEýWRýWKHý/'B/,%5$5<B3$7+ýHQYLURQPHQWýYDULDEOHïýý7KHýPHWKRGýIRUýGRLQJýWKLVýGHSHQGVýRQýWKHýVKHOOýXVHGýE\ý\RXUýXVHUýDFFRXQWýDQGýZKHWKHUýRUýQRWý\RXýZDQWýWKHýFKDQJHýGRQHýDXWRPDWLFDOO\ýZKHQHYHUý\RXýORJýLQïý

n 7RýGHWHUPLQHýZKLFKýVKHOOý\RXýDUHýXVLQJñýW\SHýSVýDWýWKHý81,;ýFRPPDQGýOLQHýSURPSWïý/RRNýIRUýWKHýHQWULHVýFVKñýNVKýRUýVKïýý,IýPRUHýWKDQýRQHýRIýWKHVHýQDPHVýDSSHDUýLQýWKHýRXWSXWýIURPýSVñýMXVWýXVHýWKHýODVWýRQHïý&ð6KHOOýLVýUHSUHVHQWHGýE\ýFVKñý.RUQð6KHOOýE\ýNVKñýDQGý%RXUQHð6KHOOýE\ýVKï

n 7RýJRýWRý\RXUýKRPHýGLUHFWRU\ñýW\SHýFGï

6KHOOãýFVK

$XWRPDWLF

ìï ,IýWKHUHýLVýQRýïFVKUFýILOHýLQý\RXUýKRPHýGLUHFWRU\ñýFUHDWHýRQHýXVLQJýWKHýYLýRUýGWSDGýHGLWRUïý

ëï ,QýWKHýILOHýïFVKUFýLQý\RXUýKRPHýGLUHFWRU\ñýORRNýIRUýDýOLQHýFRQWDLQLQJýWKHýVWULQJý/'B/,%5$5<B3$7+ïý

êï ,IýWKHUHýLVýQRý/'B/,%5$5<B3$7+ýLQýWKHýïFVKUFýILOHñýWKHQýDGGýWKHýOLQHã

VHWý/'B/,%5$5<B3$7+ý ýîXVUîGWîOLEý

éï 2WKHUZLVHñýLQVHUWýîXVUîGWîOLEýRQýWKHýULJKWýVLGHýRIýWKHý ýVLJQïýý0DNHýVXUHýWKDWýHYHU\WKLQJýRQýWKHýULJKWýVLGHýRIýWKHý ýVLJQýLVýHQFORVHGýZLWKLQýDýVHWýRIýSDUHQWKHVHVïý)RUýH[DPSOHã

VHWý/'B/,%5$5<B3$7+ý ýõîRWKHUBOGBGLUîýXVUîGWîOLEýô

&KDSWHUýëïý,QVWDOOLQJý34(GLW êæ

,QVWDOOLQJý34(GLWýõ*8,ô

0DQXDO

ìï $WýWKHý81,;ýFRPPDQGýOLQHýHQWHUýWKHýFRPPDQGã

VHWHQYý/'B/,%5$5<B3$7+ý ýõýù/'B/,%5$5<B3$7+ýîXVUîGWîOLEýô6KHOOãýNVýRUýVK

$XWRPDWLF

ìï ,IýWKHUHýLVýQRýïSURILOHýILOHýLQý\RXUýKRPHýGLUHFWRU\ñýFUHDWHýRQHýXVLQJýWKHýYLýRUýGWSDGýHGLWRUïýýýýýýý

ëï ,QýWKHýILOHýïSURILOHýLQý\RXUýKRPHýGLUHFWRU\ñýORRNýIRUýDýOLQHýFRQWDLQLQJýWKHýVWULQJý/'B/,%5$5<B3$7+ïý,IýWKHUHýLVýQRý/'B/,%5$5<B3$7+ýLQýWKHýïSURILOHýILOHýWKHQýDGGýWKHýIROORZLQJýëýOLQHVã

/'B/,%5$5<B3$7+ý ýîXVUîGWîOLEýH[SRUWý/'B/,%5$5<B3$7+ýýýýýýý

êï 2WKHUZLVHñýDSSHQGýãîXVUîGWîOLEýWRýWKHýH[LVWLQJýOLQHñýIRUýH[DPSOHãýýýýýýý

/'B/,%5$5<B3$7+ý ýRWKHUBOGBSDWKãîXVUîGWîOLEýýý

1RWHýìãý ,Iý\RXýFKRRVHýWKHýDXWRPDWLFýPHWKRGñý\RXýZLOOýQHHGýWRýORJýRXWýDQGýORJýEDFNýLQýDJDLQýWRýHQDFWýFKDQJHVýPDGHýWRýWKHýïFVKUFýRUýïSURILOHýILOHVïýýýýý

1RWHýëãý 7RýSULQWýXVLQJý34(GLWýLQýDý81,;ýHQYLURQPHQWñý\RXýPXVWýXVHýDý3RVW6FULSWýSULQWHUïýý0DNHýVXUHýWKDWý\RXUýLQVWDOODWLRQýKDVýDý3RVW6FULSWýTXHXHýDQGý\RXýKDYHýSURSHUO\ýLGHQWLILHGýWKHýTXHXHýZLWKLQý34(GLWïýý,Iý\RXýDUHýXVLQJý34(GLWýRQýDýQHWZRUNñýPDNHýVXUHýWKDWý\RXýRUý\RXUýV\VWHPýDGPLQLVWUDWRUýGLUHFWVýWKHýSULQWýMREVýWRýDý3RVW6FULSWýSULQWHUï

,QVWDOOLQJý34(GLWýõ,63)ô

êå &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

,QVWDOOLQJý34(GLWýõ,63)ô

$OOýRIýWKHýILOHVýZKLFKýPDNHýXSý34(GLWýIRUý096ýDUHýGLVWULEXWHGýLQýWKHýILOHý34(,63)ï=,3ïý7KLVýLVýDQýDUFKLYHGýILOHýWKDWýVKRXOGýEHýXQFRPSUHVVHGýRQýDý3&ýXVLQJýRQHýRIýWKHýXQ]LSýSURJUDPVýõIRUýH[DPSOHñý81=,3êëï(;(ýIRUý26îëýRUý3.81=,3ýIRUý:LQGRZVôï

n 34(GLWýIRUý096ýõ26îêäíô

8VHýWKLVýSURFHGXUHýWRýLQVWDOOý34(GLWýIRUý096ï

1RWHãý34(GLWýIRUý096ýUHTXLUHVý,63)ýYéïëýRUýKLJKHUï

6WHSýìï &KRRVHýHLWKHUýRIýWKHýIROORZLQJã

n ,Iý\RXýDUHýLQVWDOOLQJý34(GLWýIURPýWKHý,QWHUQHWñýGRZQORDGýWKHý34(,63)ï=,3ýILOHýLQWRýDýWHPSRUDU\ýGLUHFWRU\ýRQý\RXUý3&ýDQGýXQ]LSï

n ,Iý\RXýDUHýLQVWDOOLQJý34(GLWýIURPýGLVNHWWHñýFRS\ýWKHý34(,63)ï=,3ýILOHýIURPýWKHýGLVNHWWHýLQWRýDýWHPSRUDU\ýGLUHFWRU\ýRQý\RXUý3&ýDQGýXQ]LSï

7KHýIROORZLQJýILOHVýDUHýH[WUDFWHGýIURPýWKHý]LSýILOHã

UHDGPHýðý,QWURGXFWLRQýWRýWKHýSURGXFWSTHïFOLðý&OLVWýOLEUDU\STHïORDýðý/RDGýOLEUDU\STHïPVJýðý0HVVDJHýOLEUDU\STHïSDQýðý3DQHOýOLEUDU\STHïIPWðý)RUPDWVýOLEUDU\STHïWDEýðý7DEOHVýOLEUDU\

STHGLWïSGIýðý34(GLWý8VHU©Vý*XLGH

6WHSýëï 7KHýILOHVýH[WUDFWHGýLQý6WHSýìýPXVWýEHýWUDQVIHUUHGýWRýGDWDVHWVýRQý26îêäíïý,QVWUXFWLRQVýDUHýSURYLGHGýEHORZýRQýKRZýWRýWUDQVIHUýWKHýILOHVýXVLQJýWZRýGLIIHUHQWýPHWKRGVã

n 8VLQJý26îëý&RPPXQLFDWLRQVý0DQDJHU

n 8VLQJý)LOHý7UDQVIHUý3URWRFROýõ)73ô

,Iý\RXýXVHýDýGLIIHUHQWýSURFHGXUHýWRýWUDQVIHUýILOHVñýSOHDVHýQRWHýWKHýIROORZLQJã

n 7KHýILOHVýVKRXOGý127ýEHýFRQYHUWHGýVLQFHýWKH\ýDUHýELQDU\ýILOHVï

n 'Rý127ýDSSHQGý&5/)ýVHTXHQFHVýVLQFHýWKH\ýDUHýELQDU\ýILOHVï

n 0$.(ý685(ýWKHýVHTXHQWLDOýGDWDVHWVýFUHDWHGýRQý096ýDUHý/5(&/ýåíýE\WHVï

,63)

&KDSWHUýëïý,QVWDOOLQJý34(GLW êä

,QVWDOOLQJý34(GLWýõ,63)ô

7DEOHýëïý0HWKRGýìãý8VLQJý26îëý&RPPXQLFDWLRQVý0DQDJHUýWRýWUDQVIHUýILOHV

6WHS $FWLRQ

ëïì$ %()25(ýEHJLQQLQJý\RXUýLQVWDOOñýYHULI\ýWKHýGDWDVHWýDOORFDWLRQýVHWWLQJVýDVýIROORZVã

n 2QýWKHý6(1'ý),/(ý72ý+267ý6&5((1ñýVHOHFWýWKHý237,216ýSXOOGRZQ

n VHOHFWý75$16)(5ý7<3(ý'(),1,7,216n VHOHFWý%,1$5<n VHOHFWý762ý),/(ý237,216ñýDQGýHGLWýDVýIROORZVã

¤ 5(&)0ýðð!ý),;('ñý%/2&.6,=(ýëæäëí

¤ /5(&/ýðð!ýåín $//2&$7,21ý6(77,1*6

¤ 35,0$5<ýèýõVHWýE\ýFXVWRPHUô

¤ 6(&21'$5<ýèýõVHWýE\ýFXVWRPHUô

¤ 75$&.6

¤ %/.6,=(ýëæäëíýõVHWýE\ýFXVWRPHUôn VHOHFWýWKHý&+$1*(ýEXWWRQn VHOHFWý2.

9HULI\ýWKDWýVHWWLQJVýKDYHýFKDQJHGýDQGýDUHýVDYHGïý

ëïì /RJýRQWRýDý762ýVHVVLRQýDQGýPDNHýVXUHý\RXUý762ýVHVVLRQýLVýDWýWKHý5($'<ýSURPSWï

1RWHãý(QVXUHýWKDWý\RXUý762ýVHVVLRQýLVýDýQDWLYHý97$0ýVHVVLRQïý,QýRWKHUýZRUGVñýEHýVXUHý\RXýORJJHGýRQýWRý762ýGLUHFWO\ñýQRWýWKURXJKýDQ\ýVHVVLRQýPDQDJHPQHWýVRIWZDUHýVXFKýDVý&/î683(56(66,21ïT

ëïë $WýWKHý5($'<ýSURPSWñýXVHýWKHý352),/(ýFRPPDQGýWRýVHWýWKHý12,17(5&20ýDQGý1202'(ýRSWLRQVïý)RUýH[DPSOHñýW\SHã

352),/(ý12,17(5&20ý1202'(

1RWHãý6HWWLQJýWKHVHýRSWLRQVýNHHSVýDý762ý6(1'ýPHVVDJHýIURPýLQWHUUXSWLQJý\RXUýILOHýWUDQVIHUï

ëïê 2SHQýWKHý26îëýZLQGRZýIURPýWKHý26îëýGHVNWRSï

ëïé )URPýWKHý26îëZLQGRZñýFKDQJHýWRýWKHýWHPSRUDU\ýGLUHFWRU\ý\RXýXVHGýLQý6WHSýìã

&'ý347(03

1RWHãý7KLVýLQVWDOODWLRQýSURFHGXUHýDVVXPHVý\RXýDUHýXVLQJýWKHýILOHýORFDWLRQý&ã?347(03ïý,Iý\RXýXVHýDýGLIIHUHQWýILOHýORFDWLRQýEHýVXUHýWRýFKDQJHýDOOýUHIHUHQFHVýWRýWKDWýILOHýORFDWLRQï

ëïè 6ZLWFKýWRýWKHýêëæíýVHVVLRQýDWýWKHý762ý5($'<ýSURPSWïý7KLVýVHVVLRQýSHUIRUPVýWKHýILOHýWUDQVIHUï

ëïç ,QYRNHýWKHý7UDQVIHUýRSWLRQýIURPýWKHýDFWLRQýEDUï

,QVWDOOLQJý34(GLWýõ,63)ô

éí &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

ëïæ 2QýWKHýPHQXýWKDWýGLVSOD\VñýYHULI\ýWKDWý096î762ýLVýFKHFNHGï

ëïå 6HOHFWý6HQGýILOHýWRýKRVWï

ëïä 2QýWKHý6HQGýILOHýWRýKRVWýZLQGRZñýVHOHFWý(GLWñýWKHQýILOOýLQýWKHýIROORZLQJýLQIRUPDWLRQýLQýWKHý(GLWý6HQGý/LVWïý$IWHUýHDFKýHQWU\ñýFOLFNý$GGýWRý/LVWñýWKHQýVHOHFWý(GLWýWRýDOOýQH[WýHQWU\ï

1RWHãý5HSODFHý÷34(+/4ýZLWKý\RXUý34(GLWýKLJKýOHYHOýTXDOLILHUï

+RVWý)LOH 3&ý)LOH 7UDQVIHUý7\SH

©÷34(+/4ï&/,676(4© Fã?STWHPS?STHïFOL %LQDU\

©÷34(+/4ï/2$'6(4© Fã?STWHPS?STHïORD %LQDU\

©÷34(+/4ï06*6(4© Fã?STWHPS?STHïPVJ %LQDU\

©÷34(+/4ï3$16(4© Fã?STWHPS?STHïSDQ %LQDU\

©÷34(+/3ï7$%6(4© Fã?STWHPS?STHïWDE %LQDU\

©÷34(+/4ï)2506(4© Fã?STWHPS?STHïIPW %LQDU\

ëïìí 2QýWKHý6HQGý)LOHVýWRý+RVWýZLQGRZñýFOLFNý6HQGï

5HVXOWãý<RXUýêëæíýVHVVLRQýVKRXOGýEHJLQýH[HFXWLQJýWKHý)LOHý7UDQVIHUýFRPPDQGýXQGHUý762ñýZLWKýWKHýRSHUDQGýRIýWKHý096ýGDWDVHWýQDPHï

1RWHýWKWýDýGHOD\ýRIýêíýVHFRQGVýRUýPRUHýLQýWKHýXSORDGLQJýPLJKWýSURPSWýWKHýILOHýWUDQVIHUýSURJUDPýWRýLQGLFDWHýWKDWýWKHý096ýKRVWýLVýQRWýUHVSRQGLQJïý,IýWKLVýKDSSHQVñý\RXýFDQýHLWKHUýUHWU\ýRUýFDQFHOýWKHýILOHýWUDQVIHUï

<RXýKDYHýQRZýXSORDGHGýWKHý34(GLWýILOHVýWRýVHTXHQWLDOýGDWDVHWVïý&RQWLQXHýZLWKý6WHSýêýEHORZï

,IýWKHýXSORDGýGLGýQRWýVHHPýWRýZRUNñýJRýRYHUýWKHýVWHSVý\RXýMXVWýFRPSOHWHGïý,Iý\RXýVWLOOýKDYHýSUREOHPVñýFRQWDFWý\RXUý&DQGOHýUHSUHVHQWDWLYHï

ëïìì &ORVHýWKHý6HQGý)LOHVýWRý+RVWýZLQGRZï

7DEOHýêïý0HWKRGýëãý8VLQJý)73ýWRý7UDQVIHUý)LOHV

6WHS $FWLRQ

ëïì 2SHQýDQý26îëýZLQGRZýRQýWKHý26îëýGHVNWRSï

ëïë )URPýWKHý26îëýZLQGRZñýFKDQJHýWRýWKHýWHPSRUDU\ýGLUHFWRU\ý\RXýXVHGýLQý6WHSýìã

&'ý347(03

1RWHãý7KLVýLQVWDOODWLRQýSURFHGXUHýDVVXPHVý\RXýDUHýXVLQJýWKHýILOHýORFDWLRQý&ã?347(03ïý,Iý\RXýXVHýDýGLIIHUHQWýILOHýORFDWLRQñýEHýVXUHýWRýFKDQJHýDOOýUHIHHQFHVýWRýWKDWýILOHýORFDWLRQï

7DEOHýëïý0HWKRGýìãý8VLQJý26îëý&RPPXQLFDWLRQVý0DQDJHUýWRýWUDQVIHUýILOHV

6WHS $FWLRQ

&KDSWHUýëïý,QVWDOOLQJý34(GLW éì

,QVWDOOLQJý34(GLWýõ,63)ô

6WHSýêï 8VHýWKHý762ý5(&(,9(ýFRPPDQGýWRýFUHDWHýWKHý34(GLWýSDUWLWLRQHGýGDWDVHWVïý)ROORZýWKHýLQVWUXFWLRQVýLQýWKHýWDEOHýWRýH[HFXWHýWKHýFRPPDQGïýõ5HSODFHý÷34(+/4ýZLWKýWKHýKLJKýOHYHOýTXDOLILHUýIRUýWKHý34(GLWýGDWDVHWVïô

6WHSýéï 8VHýWKHý,63)ýHGLWRUýWRýPRGLI\ýWKHý34(35(ýSDUDPHWHUýLQýWKHý34(GLWý&/,67ýõORFDWHGýRQýOLQHýìýRIýWKHý&/,67ôýWRýLQGLFDWHý\RXUý34(GLWýKLJKðOHYHOýTXDOLILHUï

ëïê 2SHQýDQý)73ýFRQQHFWLRQýIURPýWKHý26îëýZRUNVWDWLRQýDQGýORJýRQýWRýWKHý096ýKRVWï

ëïé 7\SHýWKHýIROORZLQJýFRPPDQGVýWRýGRZQORDGýWKHýILOHVýWKDWýGRýQRWýUHTXLUHýWUDQVODWLRQïý1RWHãý5HSODFHý÷34(+/3ýZLWKý\RXUý34(GLWýKLJKýOHYHOýTXDOLILHUï

ELQDU\

SURPSWýRII

TXRWHýVLWHýIL[UHFIPýåí

SXWýSTHïFOLý©34(+/4ï&/,676(4©

SXWýSTHïORDý©34(+/4ï/2$'6(4©

SXWýSTHïPVJý©34(+/4ï06*6(4©

SXWýSTHïSDQý©34(+/4ï3$16(4©

SXWýSTHïIPWý©34(+/4ï)2506(4©

SXWýSTHïWDEý©34(+/4ï7$%6(4©

ëïè &ORVHýWKHý)73ýFRQQHFWLRQ

<RXýKDYHýQRZýXSORDGHGýWKHý34(GLWýILOHVýWRýVHTXHQWLDOýGDWDVHWVïý&RQWLQXHýZLWKý6WHSýêýEHORZï

,IýWKHýXSORDGýGLGýQRWýVHHPýWRýZRUNñýJRýRYHUýWKHýVWHSVý\RXýMXVWýFRPSOHWHGïý,Iý\RXýVWLOOýKDYHýSUREOHPVñýFRQWDFWý\RXUý&DQGOHýUHSUHVHQWDWLYHï

$WýWKHý762ý5($'<ýSURPSWW\SHýWKHýIROORZLQJã

:KHQýSURPSWHGýIRUýWKHýUHVWRUHýSDUDPHWHUVñýUHSO\ã

UHFHLYHýLQGVQDPHõ©34(+/4ïFOLVWVHT©ô GVQõ©34(+/4ïFOLVW©ô

UHFHLYHýLQGVQDPHõ©34(+/4ïORDGVHT©ô GVQõ©34(+/4ïORDG©ô

UHFHLYHýLQGVQDPHõ©34(+/4ïPVJVHT©ô GVQõ©34(+/4ïLVSPOLE©ô

UHFHLYHýLQGVQDPHõ©34(+/4ïSDQVHT©ô GVQõ©34(+/4ïLVSSOLE©ô

UHFHLYHýLQGVQDPHõ©34(+/4ïIRUPVHT©ô GVQõ©34(+/4ïIRUPDWV©ô

UHFHLYHýLQGVQDPHõ©34(+/4ïWDEVHT©ô GVQõ©34(+/4ïLVSWOLE©ô

7DEOHýêïý0HWKRGýëãý8VLQJý)73ýWRý7UDQVIHUý)LOHV

6WHS $FWLRQ

,QVWDOOLQJý34(GLWýõ,63)ô

éë &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

6WHSýèï $GGýWKHý34(GLWý&/,67ýOLEUDU\ýWRý\RXUý6<6352&ýFRQFDWHQDWLRQñýRUýFRS\ýWKHý34(GLWýDQGý34678))ýPHPEHUVýLQWRýDQýH[LVWLQJý6<6352&ýGDWDVHWï

6WHSýçï (GLWýWKHý,633/,%ýGDWDVHWýPHPEHUýQDPHGý34(3$506ýDQGýHQWHUýWKHýëíðFKDUDFWHUý34(GLWýNH\ýRQýWKHýOLQHýEHJLQQLQJý÷34.(<ïý([DPSOHã

6WHSýæï õ2SWLRQDOôý5XQý34(GLWýIURPýWKHý&RPPDQGýOLQHýE\ýW\SLQJý762ý34(',7ýRUýDGGý34(GLWýWRýWKHý,63)ýPHQXïý7RýDGGý34(GLWýWRýWKHý,63)ýPHQXýGRýWKHýIROORZLQJã

$ï $GGýWKHý34(GLWýPHQXýLWHPýWRýWKHý3$1(/ýGHILQLWLRQñýIRUýH[DPSOHã

ìéýðý&DQGOHý34(GLW

%ï $GGýWKHý34(GLWýSDQHOýWRýWKHýVHOHFWLRQýOLVWïý)RUýH[DPSOHã

÷=6(/ý ý75$16õ7581&õ÷=&0'ñý©ï©ïïïìéñý©&0'ýõ34(',7ô©ïïï

ý)LOHýý(GLWýý&RQILUPýý0HQXýý8WLOLWLHVýý&RPSLOHUVýý7HVWýý+HOSýýýýýýýýýýýýýýýýýýýýðððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððýý(',7ýýýýýýý7'04,êï34(9ììíï,633/,%õ34(3$506ôýðýíìïìéýýýýýýýý&ROXPQVýííííìýíííæëýýýóóóóóóýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóý7RSýRIý'DWDýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóýý 06*!ýð:DUQLQJðý7KHý81'2ýFRPPDQGýLVýQRWýDYDLODEOHýXQWLOý\RXýFKDQJHýýýýýýýýýýýýýý 06*!ýýýýýýýýýýý\RXUýHGLWýSURILOHýXVLQJýWKHýFRPPDQGý5(&29(5<ý21ïýýýýýýýýýýýýýýýýíííííìýô$775ý'()$8/7õøòBôýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýíííííëýô%2'<ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýíííííêýøýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýíííííéýô352&ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýíííííèý÷34(35(ýýý �7'04,êï34(9ììí�ýýýýýýýýýýýýýýîóý'61ý3UHIL[ýIRUý34(GLWýýýýóîýýýíííííçý÷34.(<ýýýý �èåìæææä(ìäê7ìëííèOèè�ýýýýýýýýîóý.H\ýIRUý34(GLWýýýýýýýýýýýóîýý

34(GLWý.H\

&DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH éê

&KDSWHUýêïý7KHý)250$76ý)LOH

,QWURGXFWLRQ7KLVýFKDSWHUýGHVFULEHVýKRZý\RXýXVHýDQGýPRGLI\ýWKHý)250$76ýILOHýRUýGDWDVHWïýý7KLVýILOHýõLQý*8,ýYHUVLRQVôýRUýGDWDVHWýPHPEHUýõXQGHUý,63)ôýLVýXVHGýWRýGHILQHý\RXUýPHVVDJHýOD\RXWVýIRUý34(GLWïý7KHý)250$76ýILOHýRUýGDWDVHWýLVýWKHýPRVWýLPSRUWDQWýILOHýLQý34(GLWýDQGýLVýUHTXLUHGýIRUý34(GLWýWRýEUHDNýXSýPHVVDJHýGDWDýLQWRýFROXPQVýIRUýGLVSOD\ýDQGýHGLWLQJï

&KDSWHUý&RQWHQWV

)RUPDWVý)LOHýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýéé/RFDWLRQýRIýWKHý)250$76ýILOHïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýéé6HFWLRQVýRIý)250$76ýILOH ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýéé/D\RXWýVSHFLILFDWLRQVïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýéé+HDGHUýOLQHV ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýéè8VLQJý6758&7ýDQGý'()6758&7 ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýéç)LHOGV ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýéæ

0HVVDJHðEDVHGý)RUPDWWLQJïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýéä+RZý34(GLWýSHUPLWVýPHVVDJHðEDVHGýIRUPDWWLQJïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýéä([DPSOHýRIýXVHUý)RUPDWýVHFWLRQýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýèí

+RZý34(GLWý8VHVý)250$76ï,1,ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýèì3URFHVVLQJýWKHý)250$76ýILOH ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýèì

+RZýWRý0RGLI\ý)250$76ï,1,ýõ*8,ô ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïý éå

+RZýWRý0RGLI\ýWKHý)250$76ý'DWDVHWýõ,63)ô ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïý éä

ê

)RUPDWVý)LOH

éé &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

,63)

*8,

)RUPDWVý)LOH

)250$76ýDOUHDG\ýFRQWDLQVýDýOD\RXWýVSHFLILFDWLRQýIRUýWKHýVWDQGDUGý046HULHVýPHVVDJHVïýý<RXýPXVWýFXVWRPL]HýWKLVýILOHýRUýGDWDVHWýWRýGHVFULEHýWKHýOD\RXWýRIý\RXUýPHVVDJHVïýý(DFKýOD\RXWýVSHFLILFDWLRQýLQFOXGHVýKHDGHUýDQGýILHOGýOLQHVýWKDWýGHILQHýWKHýW\SHñýOHQJWKñýGLVSOD\ýFKDUDFWHULVWLFVñýDQGýKHDGLQJýODEHOýIRUýHDFKýRIý\RXUýPHVVDJHýILHOGVïýý

7KLVýVHFWLRQýH[SODLQVýWKHýUHFRPPHQGHGýSURFHVVýWRýIROORZýLQýPRGLI\LQJýWKHý)250$76ýILOHïýý5HYLHZýWKHýIROORZLQJýLQIRUPDWLRQýWKDWýH[SODLQVýWKHýVWUXFWXUHýRIýWKHý)250$76ýILOHýDQGýWKHQýIROORZýWKHýLQVWUXFWLRQVýLQñýû+RZýWRý0RGLI\ý)250$76ï,1,ûýODWHUýLQýWKLVýVHFWLRQï

n /RFDWLRQýRIýWKHý)250$76ýILOH

,QýDý*8,ý(QYLURQPHQW

7KHý)250$76ýILOHýLVýFDOOHGý)250$76ï,1,ýLQýDý*8,ýHQYLURQPHQWïý%\ýGHIDXOWýWKLVýILOHýLVýORFDWHGýLQýWKHý34(GLWýGLUHFWRU\ïý<RXýFDQýXVHýWKHý2SWLRQVýVHOHFWLRQýIURPýWKHý7RROVýPHQXýWRýVSHFLI\ýDQRWKHUýGLUHFWRU\ýIRUýWKHý)250$76ï,1,ýILOHï

8QGHUý,63)

8QGHUý,63)ýWKHý)250$76ýILOHýLVýDý3'6ýPHPEHUïý7RýVSHFLI\ýDQRWKHUýQDPHýIRUýWKHýILOHýXVHýWKHý2SWLRQVýVHOHFWLRQýIURPýWKHý7RROýPHQXýDQGýHQWHUýWKHýQHZýORFDWLRQýRQýWKHý2SWLRQVýSDQHOï

)RUýPRUHýLQIRUPDWLRQýRQýKRZýWRýFKDQJHýWKHýGHIDXOWý)250$76ï,1,ýGLUHFWRU\ýõ*8,ôýRUý)250$76ýGDWDVHWýTXDOLILHUýõ,63)ôñýVHHý&KDSWHUýìèïý¦34(GLWý2SWLRQVï§ý

n 6HFWLRQVýRIý)250$76ýILOH

7KHý)250$76ýILOHýRUýGDWDVHWýFRQWDLQVýWKHýOD\RXWýVSHFLILFDWLRQVýIRUý\RXUýPHVVDJHVïýý,WýFRQWDLQVýWKHVHýPDMRUýVHFWLRQVãý

n 6WDQGDUGýOD\RXWVýðýXVHGýE\ý34(GLWýIRUýGLVSOD\LQJý6<67(0ýTXHXHVïýý'Rý127ýFKDQJHýWKHVHýOD\RXWVï

n 8VHUýOD\RXWVýðýOD\RXWýVSHFLILFDWLRQVý\RXýPXVWýDGGýWRýIRUPDWýPHVVDJHVýXVHGýLQý\RXUýLQVWDOODWLRQïý

n /D\RXWýVSHFLILFDWLRQV

(DFKýOD\RXWýVSHFLILFDWLRQýEHJLQVýZLWKýDý48(8(ñý)250$7ñýRUý'()ýKHDGHUýOLQHïýý7KHVHýKHDGHUýOLQHVýDUHýIROORZHGýE\ýRQHýRUýPRUHýILHOGýOLQHVýWKDWýEUHDNýXSýWKHýPHVVDJHýGDWDýLQWRýFROXPQVýLQý34(GLWïýý

&KDSWHUýêïý7KHý)250$76ý)LOH éè

)RUPDWVý)LOH

$Q\ýOLQHýWKDWýEHJLQVýZLWKýDQýDVWHULVNýLVýDýFRPPHQWýDQGýDOOýLQIRUPDWLRQýIROORZLQJýDQýDVWHULVNýRQýDýILHOGýRUýKHDGHUýOLQHýLVýDOVRýWUHDWHGýDVýDýFRPPHQWï

n +HDGHUýOLQHV

(DFKýKHDGHUýOLQHýFRQVLVWVýRIýDýNH\ZRUGýIROORZHGýE\ýDýQDPHïýý+HDGHUýQDPHVýFDQýFRQWDLQýDýZLOGFDUGýFKDUDFWHUýõóôïýý)RUýH[DPSOHñýWKHý)250$7ý,19óýKHDGHUýIRUPDWVýPHVVDJHVýZLWKýDý)250$7ýILHOGýLQýWKHýPHVVDJHýGHVFULSWRUýFRQWDLQLQJýHLWKHUý,19ð$7/ýRUý,19ð/$ï

)RUýHDFKýOD\RXWýVSHFLILFDWLRQý\RXýPD\ýFKRRVHýRQHýRIýWKHýIROORZLQJýKHDGHUýOLQHVã

)250$7ýðý8VHýDýIRUPDWýKHDGHUýOLQHýZKHQýWKLVýOD\RXWýVSHFLILFDWLRQýLVýIRUýDOOýPHVVDJHVýWKDWýFRQWDLQýDýSDUWLFXODUýYDOXHýIRUýWKHý)250$7ýILHOGýLQýWKHýPHVVDJHýGHVFULSWRUïýý,Iý\RXýDUHýQRWýXVLQJýWKHý)250$7ýILHOGýLQýWKHýPHVVDJHýGHVFULSWRUñýGRýQRWýXVHýOD\RXWýVSHFLILðFDWLRQVýWKDWýEHJLQýZLWKý)250$7ýKHDGHUýOLQHVï

)250$7ýýIRUPDWBQDPH

([DPSOHã

)250$7ý)07ì

&RPPHQWýOLQHVýEHJLQýZLWKýDVWHULVNVý

óóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóó

óý%(*,1ý86(5ý)250$76ý+(5(ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý

óóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóó

48(8(ý,192,&(6

,17ýéý,1&/8'(ý,192,&(B180%(5

,17ýéý,1&/8'(ý&867B180%(5

&+$5ýêíý,1&/8'(ý&867B1$0(

)250$7ý)07ì

,17ýéý,1&/8'(ý75$'(B180%(5

,17ýéý,1&/8'(ý%52.(5

&+$5ýêíý,1&/8'(ý&867B1$0(ý

)250$7ý)07ë

,17ýéý,1&/8'(ý75$'(B,'

,17ýéý,1&/8'(ý,19B1$0(

&+$5ýêíý,1&/8'(ý&867B1$0(

)LHOGý/LQHV

+HDGHU/LQHV

)RUPDWVý)LOH

éç &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

48(8(ýðý8VHýDýTXHXHýKHDGHUýOLQHýZKHQýWKHýOD\RXWýVSHFLILFDWLRQýDSSOLHVýWRýDOOýPHVVDJðHVýLQýDýSDUWLFXODUýTXHXHï

48(8(ýýTXHXHBQDPH

([DPSOHã

QUEUE INVOICES

'()6758&7ýðý6SHFLILHVýDýVWUXFWXUHýWKDWýFDQýEHýLQFOXGHGýLQýRWKHUýOD\RXWýVSHFLILFDðWLRQVïýý,Iý34(GLWýVHHVýDý6758&7ýILHOGýOLQHñýLWýVHDUFKHVýIRUýDý'()6758&7ýKHDGHUýOLQHýZLWKýWKHýVDPHýQDPHïýý

'()6758&7ýVWUXFWXUHBQDPHý

([DPSOHã

'()6758&7ý040'

&+$5ýéý,1&/8'(ý;0,7B6WUXFW,G

,17ýéý,1&/8'(ý;0,7B9HUVLRQ

,17ýéý,1&/8'(ý;0,7B5HSRUW

,17ýéý,1&/8'(ý;0,7B0VJ7\SH

ïýïýïý

n 8VLQJý6758&7ýDQGý'()6758&7

$VýDýFRQYHQLHQFHñýZKHQýGHILQLQJýDýPHVVDJHýOD\RXWñý\RXýFDQýLQFOXGHýDýVWUXFWXUHýLQý\RXUýPHVVDJHýGHILQLWLRQýWRýUHIHUHQFHýDýFRPPRQO\ýXVHGýPHVVDJHýVWUXFWXUHýGHILQHGýE\ýDý'()6758&7ýVSHFLILFDWLRQïýý6758&7ýDFWVýDVýDýUHIHUHQFHýWRýWKHýOD\RXWýGHILQHGýE\ýWKHý'()6758&7ýOD\RXWýVSHFLILFDWLRQïý7KLVýVDYHVý\RXýWKHýZRUNýRIýHQWHULQJýUHSHWLWLYHýOD\RXWýLQIRUPDWLRQïýý

7KHý&RO+HDGLQJýYDOXHýRIýDý6758&7ýILHOGýOLQHýPXVWýEHýWKHýVDPHýDVýWKHý'()6758&7ýKHDGHUýOLQHýLWýUHIHUHQFHVýLQýWKHý)250$76ýILOHïýý)RUýH[DPSOHñýWKHý6758&7ýíý,1&/8'(ý040'ýILHOGýOLQHýUHIHUHQFHVýWKHýOD\RXWýGHILQHGýE\ýWKHýILHOGýOLQHVýIROORZLQJýWKHý'()6758&7ý040'ýOD\RXWýVSHFLILFDWLRQï

&KDSWHUýêïý7KHý)250$76ý)LOH éæ

)RUPDWVý)LOH

([DPSOHýRIý6758&7ýDQGý'()6758&7

n )LHOGV

(DFKýKHDGHUýOLQHýLVýIROORZHGýE\ýRQHýRUýPRUHýILHOGýOLQHVïý7KHýV\QWD[ýRIýDýILHOGýOLQHýLVã

ýýýý7\SHýýý/HQJWKýýý'LVSOD\HGýýý&RO+HDGLQJ

([DPSOHVã

,17ýéý,1&/8'(ý2UGHU,G

,17ýéý,1&/8'(ý7DVN*URXS,G

,17ýëý,1&/8'(ý7DVN7\SH

,17ýéý,1&/8'(ý7LPHVWDPS

,17ýéý,1&/8'(ý5HDVRQ&RGH

7\SHý/HQJWKýýý'LVSOD\HGýýý&RO+HDGLQJ

ï

ï

)250$7ý04;0,7ýýý

&+$5ýéý(;&/8'(ý6WUXF,G

,17ýéý(;&/8'(ý9HUVLRQ

&+$5ýéåý,1&/8'(ý'HVW41DPH

&+$5ýéåý,1&/8'(ý'HVW40JU1DPH

6758&7ýíý,1&/8'(ý040'

04675ýéåý,1&/8'(ý0HVVDJH'DWD

ï

ï

ï

'()6758&7ý040'

&+$5ýéý,1&/8'(ý;0,7B6WUXFW,G

,17ýéý,1&/8'(ý;0,7B9HUVLRQ

,17ýéý,1&/8'(ý;0,7B5HSRUW

,17ýéý,1&/8'(ý;0,7B0VJ7\SH

,17ýéý,1&/8'(ý;0,7B([SLU\

,17ýéý,1&/8'(ý;0,7B)HHGEDFN

,17ýéý,1&/8'(ý;0,7B(QFRGLQJ

,17ýéý,1&/8'(ý;0,7B&RGHG&KDU6HW,G

ï

ï

6758&7ýVWDWHPHQWýUHIHUHQFHVýWKHý'()6758&7ýVSHFLILFDWLRQýDQGýLQFOXGHVýWKHý040'ýILHOGVýLQý04;0,7ï

)RUPDWVý)LOH

éå &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

7\SH

7\SHýLVýRQHýRIýWKHýIROORZLQJýNH\ýZRUGVãý

,17ýðý,QWHJHUýILHOGV

&+$5ýðý&KDUDFWHUýILHOGV

%5($.287ýðý8VHýWKLVýW\SHýWRýLQVWUXFWý34(GLWýWRýVHSDUDWHýWKHýPHVVDJHýGDWDýLQWRýçíýE\WHýILHOGVïý34(GLWýGLVSOD\VýWKHýPHVVDJHýGDWDýLQýPXOWLSOHýFROXPQVñýZKHUHýHDFKýFROXPQýKHDGLQJýLVý¦0VJý'DWDý%\WHVýìðçíñ§ý¦0VJý'DWDý%\HVýçìðìëíñ§ýHWFï

6758&7ýðý8VHý6758&7ýILHOGýOLQHVýWRýLQFOXGHýDýVWUXFWXUHýDWýWKDWýSRLQWïý7KHý&RO+HDGðLQJýYDOXHýRIýDý6758&7ýILHOGýOLQHýPXVWýEHýWKHýVDPHýDVýDý'()6758&7ýOLQHýWKDWýDSSHDUVýVRPHZKHUHýHOVHýLQýWKHý)250$76ýILOHïýý7KHý'()ð6758&7ýEORFNýFRQWDLQVýWKHýGHILQLWLRQýRIýWKHýVWUXFWXUHï

6758&7ýýíý GLVSOD\ýSDUDPHWHUý UHIHUHQFHGB'()6758&7

([DPSOHã

STRUCT 0 INCLUDE MQMD

/HQJWK/HQJWKýLVýWKHýOHQJWKýLQýE\WHVýRIýWKHýILHOGïý)RUý,17ýILHOGVýWKLVýLVýDOZD\VýëýRUýéïýý)RUý6758&7ýILHOGýOLQHVñýWKHýOHQJWKýLVýDOZD\VýíýDVýDýSODFHKROGHUïýý)RUý%5($.287ýILHOGVñýWKHýOHQJWKýGHWHUPLQHVýWKHýWRWDOýQXPEHUýRIýE\WHVýWRýEHýVHSDUDWHGýLQWRýILHOGVï

'LVSOD\HG'LVSOD\HGýLVýHLWKHUý,1&/8'(ýWRýLQFOXGHýWKHýFROXPQýRQýWKHýGLVSOD\ýRUý(;&/8'(ýWRýSUHYHQWýWKHýFROXPQýIURPýGLVSOD\LQJïýý<RXýFDQýXVHý(;&/8'(ýWRýûVNLSýRYHUûýSDUWVýRIýWKHýPHVVDJHýGDWDý\RXýGRýQRWýZDQWýWRýGLVSOD\ï

&RO+HDGLQJ&RO+HDGLQJýLVýWKHýKHDGLQJý34(GLWýXVHVýIRUýWKHýFROXPQïýý)RUýH[DPSOHñýDýILHOGýOLQHýZLWKýWKHýYDOXHýRIý,QY1XPEHUýZLOOýKDYHýDýKHDGLQJýRIý,QY1XPEHUïýý$ý&RO+HDGLQJýPD\ýFRQWDLQýVSDFHVï

)RUý6758&7ýILHOGýOLQHVñýWKHý&RO+HDGLQJýPXVWýPDWFKýWKHýQDPHýRQýDý'()6758&7ýVRPHZKHUHýHOVHýLQýWKHý)250$76ýILOHïýý

&KDSWHUýêïý7KHý)250$76ý)LOH éä

0HVVDJHðEDVHGý)RUPDWWLQJ

0HVVDJHðEDVHGý)RUPDWWLQJ

6RPHýXVHUVýPD\ýKDYHýPHVVDJHVýZKHUHýWKHýPHVVDJHýGDWDýLQFOXGHVýLQIRUPDWLRQýWKDWýGHVLJQDWHVýWKHýPHVVDJHýIRUPDWïýý7KLVýVHFWLRQýH[SODLQVýDýOD\RXWýVSHFLILFDWLRQýLQý34(GLWýWKDWýDFFRPPRGDWHVýWKLVýUHTXLUHPHQWýIRUýPHVVDJHðEDVHGýIRUPDWWLQJïý

n +RZý34(GLWýSHUPLWVýPHVVDJHðEDVHGýIRUPDWWLQJ

34(GLWýHQDEOHVý\RXýWRýXVHýPHVVDJHðEDVHGýIRUPDWWLQJýE\ýýýý

n $GGLQJýDýOD\RXWýVXEW\SHýLQýWKHý)250$7ýRUý48(8(ýKHDGHUýOLQHñýDQGý

n 6SHFLI\LQJýZKLFKýILHOGýRUýILHOGVýGHWHUPLQHVýWKHýPHVVDJHýOD\RXWï

7RýDGGýDýOD\RXWýVXEW\SHýIRUýPHVVDJHðEDVHGýIRUPDWWLQJñý\RXýDGGýDýVXEW\SHýQDPHýLQýSDUHQWKHVHVýDWýWKHýHQGýRIýWKHýKHDGHUýOLQHïýý7KHýVXEW\SHýQDPHýVKRXOGýEHýPHDQLQJIXOýWRý\RXUýLQVWDOODWLRQýDQGýUHSUHVHQWýWKHýQDPHý\RXýZDQWýWRýDVVRFLDWHýZLWKýWKHVHýW\SHVýRIýPHVVDJHVïýý7KHýQDPHýPD\ýQRWýFRQWDLQýEODQNVï

,Iý34(GLWýILQGVýDýOD\RXWýVXEW\SHýDVýSDUWýRIýWKHý48(8(ýRUý)250$7ýKHDGHUýOLQHñý34(GLWýVHDUFKHVýWKHýOD\RXWýVSHFLILFDWLRQýIRUýDýILHOGýOLQHýHQGLQJýZLWKý(4ýDQGýWKHýYDOXHýLQýSDUHQWKHVHVïýý,IýWKHýYDOXHýLQýWKHýPHVVDJHýGDWDýHTXDOVýWKHýYDOXHýLQýSDUHQWKHVHVýIRUýWKDWýILHOGñýWKHQý34(GLWýXVHVýWKDWýOD\RXWýVSHFLILFDWLRQïýý

34(GLWýDOVRýGLVSOD\VýWKHýVXEW\SHýQDPHVýLQýWKHý)LOWHUýGLDORJýER[ýWRýSHUPLWýPHVVDJHýILOWHULQJýEDVHGýRQýVXEW\SHVï

([DPSOHã

48(8(ý,192,&(ýõ(UURU0VJô

&+$5ýëý,1&/8'(ý0VJ7\SHý(4õ(5ô

,17ýéý,1&/8'(ý,QYRLFH

,17ýéý,1&/8'(ý&XVWý1XPEHU

&+$5ýëíý,1&/8'(ý(UURUý7H[W

7KLVý48(8(ýKHDGHUýOLQHýLQFOXGHVýSDUHQWKHVHVýWRýLQGLFDWHýWKDWýWKHýH[DPSOHýOD\RXWýVSHFLILFDWLRQýLVýDýVXEW\SHýFDOOHGý(UURU0VJïýý,Iý34(GLWýILQGVýDýPHVVDJHýLQýWKHý,192,&(ýTXHXHñýDQGýWKHý0VJ7\SHýILHOGýLVý(5ñýWKHQý34(GLWýZLOOýXVHýWKHý(UURU0VJýOD\RXWýVSHFLILFDWLRQïýý

1RWHã ,QýDGGLWLRQýWRý,17ýILHOGVñý\RXýPD\ýXVHýDý&+$5ýILHOGýZLWKýDQý(4ýHQGLQJýDQGýDýYDOXHýWRýLQGLFDWHýDýOD\RXWýVSHFLILFDWLRQïý

0HVVDJHðEDVHGý)RUPDWWLQJ

èí &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

n ([DPSOHýRIýXVHUý)RUPDWýVHFWLRQ

7KHýIROORZLQJýH[DPSOHýVKRZVýKRZý34(GLWýSHUPLWVýPHVVDJHGðEDVHGýIRUPDWWLQJýXVLQJýOD\RXWýVSHFLILFDWLRQVýLQýWKHýXVHUýSRUWLRQýRIýWKHý)250$76ýILOHýRUýGDWDVHWï

1RWHãýý,Iý34(GLWýILQGVýQRý48(8(ýPDWFKñýLWýXVHVýDýIRUPDWýRIý04675ýIRUýWKHPHVVDJHï

óóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóý8VHUý)RUPDWVý%HJLQý+HUHýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóó48(8(ý,19óõ1$0+HDGHU0VJô,17ýëý,1&/8'(ý0VJ7\SHý(4õìô,17ýéý,1&/8'(ý2UGHU,Góóóó48(8(ý,19óõ$FWLYDWH(UURU0VJô,17ýëý,1&/8'(ý0VJ7\SHý(4õëô,17ýéý,1&/8'(ý2UGHU,G,17ýéý,1&/8'(ý7DVN*URXS,G,17ýëý,1&/8'(ý7DVN7\SH,17ýéý,1&/8'(ý7LPHVWDPS,17ýéý,1&/8'(ý5HDVRQ&RGH&+$5ýåìý,1&/8'(ý(UU7[W0RGLILHU,17ýéý,1&/8'(ý(UURU,G&+$5ýèý,1&/8'(ý(UURU3ULQW'HVW&+$5ýëý,1&/8'(ý(UURU3ULQW/DQJ&+$5ýêìý,1&/8'(ý62&8QLTXH,G&+$5ýêý,1&/8'(ý7UDQVDFWLRQ7\SHóóóó48(8(ý,19óõ$FWLYDWH5HTXHVW0VJô,17ýëý,1&/8'(ý0VJ7\SHý(4õêô,17ýéý,1&/8'(ý2UGHU,G,17ýéý,1&/8'(ý2UGHU'HVF,17ýéý,1&/8'(ý7DVN*URXS,Góóóó48(8(ý,19ó,17ýëý,1&/8'(ý0VJ7\SH,17ýéý,1&/8'(ý2UGHU,G

,Iý0VT7\SHýLVýìñýXVHýWKLVýOD\RXWýVSHFLILFDWLRQï

,Iý0VT7\SHýLVýëñýXVHýWKLVýOD\RXWýVSHFLILFDWLRQï

,Iý0VT7\SHýLVýêñýXVHýWKLVýOD\RXWýVSHFLILFDWLRQï

,IýQRý0VT7\SHýLVýIRXQGñýXVHýWKLVýOD\RXWýVSHFLILFDWLRQï

&KDSWHUýêïý7KHý)250$76ý)LOH èì

+RZý34(GLWý8VHVý)250$76ï,1,

+RZý34(GLWý8VHVý)250$76ï,1,ý

)RUýHYHU\ýPHVVDJHýLQýWKHýTXHXHñý34(GLWýSHUIRUPVýWKHýIROORZLQJýRSHUDWLRQVýWRýGHWHUPLQHýDýPHVVDJHýOD\RXWïýý7KHýRUGHUýRIýOD\RXWýVSHFLILFDWLRQVýLQýWKHý)250$76ýILOHýRUýGDWDVHWýLVýVLJQLILFDQWïýý,IýWZRýKHDGHUýOLQHVýEHJLQýZLWKýWKHýVDPHý)250$7ýQDPHñý34(GLWýXVHVýWKHýILUVWýOD\RXWýVSHFLILFDWLRQýWKDWýRFFXUVýLQý)250$76ï

n 3URFHVVLQJýWKHý)250$76ýILOH

34(GLWýSHUIRUPVýWKHýIROORZLQJýSURFHVVLQJýZKHQýXVLQJýWKHý)250$76ýILOHã

6WHSýìï 34(GLWýVHDUFKHVýWKHý)250$76ýIRUýDýPDWFKýEHWZHHQýWKHý)250$7ýILHOGýLQýWKHýPHVVDJHýGHVFULSWRUýZLWKýDý)250$7ýKHDGHUýOLQHï

([DPSOHã

)250$7ý,192,&(,17ýéý,1&/8'(ý,QYRLFH,17ýéý,1&/8'(ý&XVWý1XPEHU&+$5ýëíý,1&/8'(ý&XVWý1DPH

,Iý\RXUýPHVVDJHýFRQWDLQVýWKHýYDOXHý,192,&(ýLQýWKHý)RUPDWýILHOGýRIýWKHýPHVVDJHýGHVFULSWRUñý34(GLWýIRUPDWVýLWýXVLQJýWZRýéðE\WHýLQWHJHUýILHOGVýIRUý,QYRLFHýDQGý&XVWRPHUý1XPEHUýILHOGVýDQGýRQHýëíðFKDUDFWHUý&XVWRPHUýQDPHýILHOGï

,IýWKHý)250$7ýKHDGHUýOLQHýFRQWDLQVýDýOD\RXWýVXEW\SHñýWKHQý34(GLWýWHVWVýWKHýPHVVDJHýGDWDýWRýVHHýLIýLWýXVHVýWKDWýVXEW\SHïýýõ6HHýWKHýSUHYLRXVýWRSLFñýû0HVVDJHð%DVHGý)RUPDWWLQJïûô

,Iý34(GLWýILQGVýQRý)250$7ýPDWFKñýLWýJRHVýWRýWKHýIROORZLQJýVWHSï

6WHSýëï 34(GLWýVHDUFKHVýWKHý)250$76ýILOHýIRUýDýPDWFKýEHWZHHQýWKHýQDPHýRIýDýTXHXHýDQGýDý48(8(ýKHDGHUýOLQHïý

([DPSOHã48(8(ý75$'(6&+$5ýèý,1&/8'(ý6\PERO,17ýéý,1&/8'(ý4XDQWLW\

,IýWKHýQDPHýRIýWKHýTXHXHýLVý75$'(6ñý34(GLWýIRUPDWVýWKHýPHVVDJHýXVLQJýDýèðFKDUDFWHUý6\PEROýFROXPQýDQGýDýéðE\WHý4XDQWLW\ýFROXPQïý

,IýWKHý48(8(ýKHDGHUýOLQHýFRQWDLQVýDýOD\RXWýVXEW\SHñýWKHQý34(GLWýWHVWVýWKHýPHVVDJHýGDWDýWRýVHHýLIýLWýXVHVýWKDWýVXEW\SHïýýõ6HHýWKHýSUHYLRXVýWRSLFñýû0HVVDJHð%DVHGý)RUPDWWLQJïûô

6WHSýêï ,Iý34(GLWýILQGVýQRý48(8(ýPDWFKñýWKHýDSSOLFDWLRQýXVHVýDýIRUPDWýRIý%5($.287ýIRUýWKHýPHVVDJHï

*8,

+RZýWRý0RGLI\ý)250$76ï,1,ýõ*8,ô

èë &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

+RZýWRý0RGLI\ý)250$76ï,1,ýõ*8,ô

8VHýWKLVýSURFHGXUHýWRýPRGLI\ýWKHýXVHUýVHFWLRQýDWýWKHýHQGýRIýWKHý)250$76ï,1,ýILOHýWRýGHILQHýWKHýPHVVDJHýIRUPDWVý\RXýZLOOýXVHýZLWKý34(GLWïýý7KLVýSURFHGXUHýSHUWDLQVýWRýWKHý*8,ýYHUVLRQVýRIý34(GLWï

6WHSýìï 2SHQýWKHý)250$76ï,1,ýILOHýXVLQJýDýWH[WýHGLWRUï

6WHSýëï 3DJHýGRZQýWRýWKHý8VHUý)RUPDWVý6HFWLRQï

n )RUýWKHýPHVVDJHVý\RXýZLOOýEHýHGLWLQJýLQý34(GLWã

n)RUýHDFKýPHVVDJHýZLWKýDýSDUWLFXODUýOD\RXWñýHQWHUýDýOD\RXWýVSHFLILFDWLRQýWKDWýFRQWDLQVýDý)250$7ýKHDGHUýOLQHýDQGýWKHýDSSURSULDWHýILHOGýOLQHVýWRýGHILQHýWKHýOD\RXWýRIýWKHýPHVVDJHï

n)RUýHDFKýTXHXHýZKHUHýDOOýWKHýPHVVDJHVýLQýWKHýTXHXHýKDYHýWKHýVDPHýOD\RXWñýHQWHUýDýOD\RXWýVSHFLILFDWLRQýWKDWýFRQWDLQVýDý48(8(ýKHDGHUýOLQHýZLWKýDSSURSULDWHýILHOGýOLQHVýWRýGHILQHýWKHýOD\RXWýRIýWKHýPHVVDJHï

n(QWHUýDý'()6758&7ýKHDGHUýOLQHýWRýVSHFLI\ýDQ\ýFRPPRQýVWUXFWXUHVý\RXýZDQWýWRýLQFOXGHýLQýWKHýOD\RXWýVSHFLILFDWLRQVïý8VHýDý6758&7ýILHOGýOLQHýZKHUHý\RXýZDQWýWRýLQVHUWýWKHýVWUXFWXUHýLQýDý48(8(ýRUý)250$7ýOD\RXWï

6WHSýêï 6DYHý\RXUý)250$76ï,1,ýILOHýDQGýFRS\ýLWýWRýWKHýVDPHýGLUHFWRU\ýZKHUHý\RXýKDYHý\RXUý34(GLWýDSSOLFDWLRQï

1RWHãý7KHý)250$76ï,1,ýILOHýSDWKýLVýVSHFLILHGýLQýWKHý2SWLRQVýGLDORJýER[ï

ý

*8,

&KDSWHUýêïý7KHý)250$76ý)LOH èê

+RZýWRý0RGLI\ýWKHý)250$76ý'DWDVHWýõ,63)ô

+RZýWRý0RGLI\ýWKHý)250$76ý'DWDVHWýõ,63)ô

8VHýWKLVýSURFHGXUHýWRýPRGLI\ýWKHýXVHUýVHFWLRQýDWýWKHýHQGýRIýWKHý)250$76ýGDWDVHWýWRýGHILQHýWKHýPHVVDJHýIRUPDWVý\RXýZLOOýXVHýZLWKý34(GLWïýý7KLVýSURFHGXUHýSHUWDLQVýWRýWKHý,63)ýYHUVLRQýRIý34(GLWï

6WHSýìï 6WDUWý,63)ï

6WHSýëï 2SHQýWKHýGDWDVHWýODEHOHGýKLJKýOHYHOýTXDOLILHUï7.$13$5ýõ.0')2507ôýXVLQJýWKHýHGLWýVHOHFWLRQýLQý,63)ï

6WHSýêï 3DJHýGRZQýWRýWKHý8VHUý)RUPDWVý6HFWLRQï

6WHSýéï )RUýWKHýPHVVDJHVý\RXýZLOOýEHýHGLWLQJýLQý34(GLWã

n )RUýHDFKýPHVVDJHýZLWKýDýSDUWLFXODUýOD\RXWñýHQWHUýDýOD\RXWýVSHFLILFDWLRQýWKDWýFRQWDLQVýDý)250$7ýKHDGHUýOLQHýDQGýWKHýDSSURSULDWHýILHOGýOLQHVýWRýGHILQHýWKHýOD\RXWýRIýWKHýPHVVDJHï

n )RUýHDFKýTXHXHýZKHUHýDOOýWKHýPHVVDJHVýLQýWKHýTXHXHýKDYHýWKHýVDPHýOD\RXWñýHQWHUýDýOD\RXWýVSHFLILFDWLRQýWKDWýFRQWDLQVýDý48(8(ýKHDGHUýOLQHýZLWKýDSSURSULDWHýILHOGýOLQHVýWRýGHILQHýWKHýOD\RXWýRIýWKHýPHVVDJHï

n (QWHUýDý'()6758&7ýKHDGHUýOLQHýWRýVSHFLI\ýDQ\ýFRPPRQýVWUXFWXUHVý\RXýZDQWýWRýLQFOXGHýLQýWKHýOD\RXWýVSHFLILFDWLRQVïý8VHýDý6758&7ýILHOGýOLQHýZKHUHý\RXýZDQWýWRýLQVHUWýWKHýVWUXFWXUHýLQýDý48(8(ýRUý)250$7ýOD\RXWï

6WHSýèï 6DYHý\RXUý)250$76ýGDWDVHWïý

1RWHãý7KHý)250$76ýGDWDVHWýTXDOLILHUýLVýVSHFLILHGýLQýWKHý2SWLRQVýGLDORJýER[ï

,63)

+RZýWRý0RGLI\ýWKHý)250$76ý'DWDVHWýõ,63)ô

èé &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

&DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH èè

&KDSWHUýéïý6WDUWLQJý34(GLW

,QWURGXFWLRQ

7KLVýFKDSWHUýGHVFULEHVýWKHýVWHSVýIRUýVWDUWLQJýDQGýXVLQJý34(GLWïýý,WýLQFOXGHVýDýUHFRPPHQGHGýPHWKRGýIRUýVWDUWLQJý046HULHVýFRPSRQHQWVýEHIRUHý\RXýUXQý34(GLWïý,QýDGGLWLRQñýWKLVýFKDSWHUýWDNHVý\RXýWKURXJKýWKHýVWHSVýIRUýVWDUWLQJý046HULHVýDQGý34(GLWïýý,Iý\RXýKDYHýQRWýLQVWDOOHGý34(GLWñýVHHýWKHý&DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý,QVWDOODWLRQý*XLGHñý9ìííïý,Iý\RXýKDYHýQRWýPRGLILHGýWKHý)250$76ýILOHýWRýPDWFKý\RXUýPHVVDJLQJýHQYLURQPHQWñýVHHý&KDSWHUýêý¦7KHý)250$76ý)LOHñ§ý

&RQWHQWV

6WDUWLQJýRUý&RQQHFWLQJýWRýDý4XHXHý0DQDJHU ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýèç6WDUWLQJýWKHýORFDOýTXHXHýPDQDJHU ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýèç&RQQHFWLQJýXVLQJýDQý04,ýFOLHQW ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýèç

6WDUWLQJý34(GLWïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýèæ6WDUWý34(GLWýõ*8,ôýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýèæ6WDUWý34(GLWýõ,63)ô ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýèæ

é

6WDUWLQJýRUý&RQQHFWLQJýWRýDý4XHXHý0DQDJHU

èç &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

6WDUWLQJýRUý&RQQHFWLQJýWRýDý4XHXHý0DQDJHU

%HIRUHý\RXýEHJLQýXVLQJý34(GLWñý\RXýXVXDOO\ýVWDUWýWKHý046HULHVýTXHXHýPDQDJHUýRUýPDNHýVXUHý\RXýDUHýSURSHUO\ýFRQQHFWHGýWRýDýTXHXHýPDQDJHUýE\ýPHDQVýRIýDQý04,ýFOLHQWïýý

n 6WDUWLQJýWKHýORFDOýTXHXHýPDQDJHU

)RUýLQVWDOODWLRQVýZKHUHý\RXýDUHýXVLQJýDýORFDOýTXHXHýPDQDJHUý\RXýGRýERWKýRIýWKHýIROORZLQJã

n ([HFXWHýWKHý046HULHVý675040ýFRPPDQGýWRýVWDUWýWKHýTXHXHýPDQDJHUñýDQG

n ([HFXWHýWKHý67504&69ýFRPPDQGýWRýVWDUWýWKHýFRPPDQGýVHUYHUïý

n &RQQHFWLQJýXVLQJýDQý04,ýFOLHQW

)RUý*8,ýLQVWDOODWLRQVýZKHUHý\RXýDUHýFRQQHFWLQJýWRýDýTXHXHýPDQDJHUýE\ýPHDQVýRIýDQý04,ýFOLHQWñýPDNHýVXUHý\RXýKDYHýDýYDOLGý046HULHVýFOLHQWýFRQQHFWLRQýZLWKýWKDWýTXHXHýPDQDJHUïýý)RUýPRUHýLQIRUPDWLRQñýVHHý&KDSWHUýèý¦34(GLWýDQGýWKHý04,ý&OLHQWý&RQQHFWLRQñ§ýýDQGýWKHý,%0ý046HULHVýPDQXDOñý046HULHVý&OLHQWVýõ*&êêðìçêëôï*8,

&KDSWHUýéïý6WDUWLQJý34(GLW èæ

6WDUWLQJý34(GLW

6WDUWLQJý34(GLW

$IWHUý\RXýKDYHýVWDUWHGý046HULHVý\RXýFDQýVWDUWý34(GLWïýý7KHýIROORZLQJýVWHSVýGHVFULEHýVWDUWðXSýSURFHGXUHVýIRUý34(GLWýLQýERWKýWKHý*8,ýDQGý,63)ýHQYLURQPHQWVïýý

n 6WDUWý34(GLWýõ*8,ô

8VHýWKHýIROORZLQJýSURFHGXUHýWRýVWDUWý34(GLWýLQýDý*8,ýHQYLURQPHQWï

6WHSýìï 6WDUWý34(GLWýE\ýVHOHFWLQJý6WDUWî3URJUDPVî34(GLWýIURPýWKHý:LQGRZVî:LQGRZVý17ý6WDUWý0HQXýRUýE\ýFOLFNLQJýWKHý34(GLWýLFRQï

6WHSýëï 7RýRSHQýDýTXHXHñýVHHý&KDSWHUýçý¦2SHQLQJýDý4XHXHñ§ýýRUýWXUQýWRý&KDSWHUýìëý¦&UHDWLQJýDý1HZý4XHXHñ§ýýIRUýLQIRUPDWLRQýRQýKRZýWRýFUHDWHýDýQHZýTXHXHï

n 6WDUWý34(GLWýõ,63)ô

8VHýWKHýIROORZLQJýSURFHGXUHýWRýVWDUWý34(GLWýXQGHUý,63)ï

6WHSýìï /RJRQýRQýWRý\RXUýV\VWHPýDQGýVWDUWý,63)ïý

6WHSýëï $WýWKHý&RPPDQGýOLQHñýW\SHý762ý34(',7ï

6WHSýêï 7RýRSHQýDýTXHXHñýVHHý&KDSWHUýçý¦2SHQLQJýDý4XHXHñ§ý

,63)

*8,

6WDUWLQJý34(GLW

èå &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

&DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH èä

&KDSWHUýèï34(GLWýDQGýWKH

04,ý&OLHQWý&RQQHFWLRQ

,QWURGXFWLRQ

7KLVýFKDSWHUýIRFXVHVýRQý04,ýFOLHQWVýDQGýKRZýWRýVHWýXSý34(GLWýWRýWDNHýDGYDQWDJHýRIýWKHýIHDWXUHVýRIýWKHý04,ýFOLHQWýHQYLURQPHQWýIRUýFRVWðHIIHFWLYHýPHVVDJLQJýDQGýWHVWLQJïýý2QO\ý*8,ýYHUVLRQVýRIý34(GLWýDUHýXVHGýZLWKý04,ýFOLHQWýFRQQHFWLRQVï

&KDSWHUý&RQWHQWV

2YHUYLHZ ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýçí7KHýIXQFWLRQýRIý04,ýFOLHQWV ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýçí

04,ý&OLHQWVýDQGý34(GLW ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýçì04,ýFOLHQWýFRQQHFWLRQV ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýçì

8VLQJý&OLHQWVýZLWKý34(GLW ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýçë7HVWLQJýDýVFHQDULRýXVLQJý04,ýFOLHQWýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýçë

6HWWLQJý8Sý<RXUý&OLHQWý&RQQHFWLRQýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýçé3UHUHTXLVLWHVýIRUýWHVWLQJýXVLQJý04,ýFOLHQWVýZLWKý34(GLW ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýçé

è

2YHUYLHZ

çí &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

2YHUYLHZ

$OWKRXJKýPDQ\ýXVHUVýHGLWýTXHXHVýIURPýDýORFDOýTXHXHýPDQDJHUñý\RXýPD\ýDOVRýUXQý34(GLWýLQýFRQQHFWLRQýZLWKýDQý04,ýFOLHQWýIRUýHGLWLQJýDQGýWHVWLQJýTXHXHVýRQýQRQðORFDOýTXHXHýPDQDJHUVï

n 7KHýIXQFWLRQýRIý04,ýFOLHQWV

7KHý04,ýFOLHQWýLVýDýFRPSRQHQWýRIý046HULHVýWKDWýFDQýEHýLQVWDOOHGýRQýDýV\VWHPýZLWKRXWýLQVWDOOLQJýWKHýIXOOý046HULHVýTXHXHýPDQDJHUïýý7KHý04,ýFOLHQWýHQDEOHVý\RXýWRýUXQý046HULHVýDSSOLFDWLRQVýWKDWýLQWHUDFWýZLWKýRQHýRUýPRUHý04,ýVHUYHUVýDQGýFRQQHFWýWRýWKHLUýTXHXHýPDQDJHUVïýý

7KHý04,ýFOLHQWýLVVXHVýFDOOVýWRýRQHýRUýPRUHýQRQðORFDOýVHUYHUVýXVLQJýDýFRPPXQLFDWLRQýOLQNïýý$SSOLFDWLRQVýWKDWý\RXýUXQýXVLQJýWKHý04,ýFOLHQWýXVHýWKLVýFRPPXQLFDWLRQýOLQNýZKHQHYHUýWKHýDSSOLFDWLRQýPDNHVýDQý04,ýVHUYHUýFDOOïýý:KHQýWKHý046HULHVýDSSOLFDWLRQýLVVXHVýDýFDOOñýWKHý04,ýFOLHQWýVHQGVýWKHýUHTXHVWýWRýWKHýQRQðORFDOýTXHXHýPDQDJHUñýZKHUHýLWýLVýSURFHVVHGïýý,Iý\RXýDUHýXVLQJý34(GLWýZLWKýDý04,ýFOLHQWýFRQQHFWLRQñýPDNHýVXUHý\RXýKDYHýDýYDOLGý046HULHVýFOLHQWýFKDQQHOýWRýWKHýQRQðORFDOýTXHXHýPDQDJHUï

&KDSWHUýèïý34(GLWýDQGýWKHý04,ý&OLHQWý&RQQHFWLRQ çì

04,ý&OLHQWVýDQGý34(GLW

04,ý&OLHQWVýDQGý34(GLW

:LWKý04,ýFOLHQWVý\RXýFDQýFRPPXQLFDWHýZLWKýRQHýRUýPRUHý04,ýVHUYHUVýZLWKRXWýDýIXOOý046HULHVýLPSOHPHQWDWLRQýRQýWKHýORFDOýFRPSXWHUïýý7KLVýZDVýGHYHORSHGýDVýDýFRVWýHIIHFWLYHýZD\ýRIýLPSOHPHQWLQJý046HULHVýPHVVDJLQJýDQGýTXHXLQJïýý8VLQJý04,ýFOLHQWVýZLWKý34(GLWýDOVRýRIIHUVýWKHýFDSDELOLW\ýWRýSHUIRUPýWHVWLQJýLQýVLWXDWLRQVýZKHUHýWKHý04,ýFOLHQWýLVýLQVWDOOHGýLQýDGGLWLRQýWRýDýORFDOý046HULHVýTXHXHýPDQDJHUï

n 04,ýFOLHQWýFRQQHFWLRQVýýýýý

7KHý04,ýFOLHQWýLVýDýFRPSRQHQWýRIý046HULHVýWKDWýFDQýEHýLQVWDOOHGýRQýLWVýRZQýRUýZLWKýRWKHUý046HULHVýFRPSRQHQWVýRQýWKHýVDPHýV\VWHPïýý04,ýFOLHQWVýHQDEOHý\RXýWRýUXQýDQý046HULHVýDSSOLFDWLRQýDQGýLQWHUDFWñýXVLQJýDýFRPPXQLFDWLRQVýOLQNñýZLWKýRQHýRUýPRUHýVHUYHUVýDQGýFRQQHFWýWRýWKHLUýTXHXHýPDQDJHUVï

:KHQý\RXýUXQýWKHý04,ýFOLHQWñý\RXýFRQQHFWýWRýWKHýTXHXHýPDQDJHUýRQýDQRWKHUýPDFKLQHýRUýPDFKLQHVïýý:KHQýWKHýDSSOLFDWLRQýRQýWKHýFOLHQWýPDFKLQHýLVVXHVýDýFDOOñýWKHý04,ýFOLHQWýFRGHýGLUHFWVýWKHýUHTXHVWýWRýWKHýTXHXHýPDQDJHUýYLDýDýFRPPXQLFDWLRQýOLQNïý7KHýUHTXHVWýLVýSURFHVVHGýDQGýDýUHSO\ýLVýVHQWýEDFNýWRýWKHý04,ýFOLHQWïýý)RUýDQý04,ýFOLHQWýWRýOLQNýZLWKýDýTXHXHýPDQDJHUýRQýDQRWKHUýPDFKLQHñýERWKýWKHýFOLHQWýDQGýWKHýQRQðORFDOýTXHXHýPDQDJHUýPXVWýEHýUXQQLQJïýý

34(GLW

/RFDOý6\VWHP

04,ý&OLHQW

1RQðORFDOý6\VWHP

$SSOLFDWLRQ

4XHXHý0DQDJHU

FOLHQWýFKDQQHOXVHGýIRUý

FRPPXQLFDWLRQV

8VLQJý&OLHQWVýZLWKý34(GLW

çë &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

8VLQJý&OLHQWVýZLWKý34(GLW

$OWKRXJKý04,ýFOLHQWVýZHUHýGHYHORSHGýWRýHQDEOHýDSSOLFDWLRQVýWRýUXQýRQýSODWIRUPVýVXFKýDVý'26ýDQGý:LQGRZVýêïìýZLWKRXWýDýIXOOý046HULHVýLQVWDOODWLRQñýFOLHQWVýDUHýDOVRýXVHIXOýZKHQýLQVWDOOHGýIRUýWHVWLQJýGLVWULEXWHGýDSSOLFDWLRQVýRQýPDFKLQHVýZLWKýDýIXOOý046HULHVýLQVWDOODWLRQïýý,QýWKLVýVFHQDULRñýTXHXHýPDQDJHUVýDUHýLQVWDOOHGýRQýERWKýWKHý04,ýFOLHQWýDQGýDýVHUYHUýPDFKLQHýZLWKýVHSDUDWHýFRPPXQLFDWLRQýOLQNVãýRQHýIRUýUXQQLQJýDýGLVWULEXWHGýTXHXLQJýDSSOLFDWLRQñýDQGýRQHýIRUýWHVWLQJýWKHýDSSOLFDWLRQïýý34(GLWýOHWVý\RXýVHOHFWýDQGýYLHZýPHVVDJHVýIURPýERWKýWKHýORFDOýDQGýQRQðORFDOýPDFKLQHVï

n 7HVWLQJýDýVFHQDULRýXVLQJý04,ýFOLHQW

$OWKRXJKý\RXýPD\ýW\SLFDOO\ýXVHýGLVWULEXWHGýTXHXLQJýIRUý\RXUý046HULHVýDSSOLFDWLRQVñýWKHý04,ýFOLHQWýLVýLPSRUWDQWýLQýWHVWLQJýEHFDXVHýLWýSHUPLWVý34(GLWýWRýDFFHVVýTXHXHVýRQýRWKHUýTXHXHýPDQDJHUVýWRýYHULI\ýWKDWýGLVWULEXWHGýTXHXLQJýLVýZRUNLQJýSURSHUO\ïý

$WýWKHýPRVWýEDVLFýOHYHOýXVLQJýWKHý04,ýFOLHQWýZLWKý34(GLWýOHWVý\RXýFKHFNýWKDWýWKHýPHVVDJHVý\RXýVHQGýWRýDQRWKHUýDSSOLFDWLRQýDUHýDFWXDOO\ýUHFHLYHGýE\ýWKHýDSSOLFDWLRQïýý<RXýFDQýDOVRýYHULI\ýWKDWýWKHýUHPRWHýDSSOLFDWLRQýJRWýPHVVDJHVýIURPýWKHýFRUUHFWýTXHXHñýDQGýKDQGOHGýWKHýPHVVDJHVýSURSHUO\ï

7RýXVHýDQý04,ýFOLHQWýIRUýWHVWLQJñý\RXýFDQýVHWýXSýDýFOLHQWýPDFKLQHýZLWKýDýIXOOýLQVWDOODWLRQýRIý046HULHVýFRPSRQHQWVýDVýZHOOýDVýWKHý04,ýFOLHQWïýý7KLVýPHDQVýWKDWýWKHýORFDOýV\VWHPýKDVýDýTXHXHýPDQDJHUñýTXHXHñýDQGýFOLHQWýDOOýRQýWKHýVDPHýPDFKLQHïýý$ýGLVWULEXWHGýTXHXLQJýDSSOLFDWLRQýRQýWKLVýPDFKLQHýFRPPXQLFDWHVýZLWKýDýQRQðORFDOýTXHXHýXVLQJýQRUPDOý046HULHVýGLVWULEXWHGýTXHXLQJïýý7KHýORFDOýWUDQVPLWýTXHXHýLVýFRQQHFWHGýWKURXJKýDýGLVWULEXWHGýTXHXLQJýFKDQQHOýWRýDýTXHXHýRQýWKHýQRQðORFDOýV\VWHPïý

34(GLW

/RFDOý6\VWHP

$SSOLFDWLRQ

04,ý&OLHQW

1RQðORFDOý6\VWHP

$SSOLFDWLRQ

4XHXHý0DQDJHU'LVWULEXWHGý4XHXLQJý&KDQQHO

4XHXHý0DQDJHU

;0,7ý4

4XHXH

&OLHQW&KDQQHOý8VHGIRUý7HVWLQJ

&KDSWHUýèïý34(GLWýDQGýWKHý04,ý&OLHQWý&RQQHFWLRQ çê

8VLQJý&OLHQWVýZLWKý34(GLW

7HVWLQJýDQý046HULHVýDSSOLFDWLRQýUHTXLUHVýDQý04,ýFOLHQWýFRQQHFWLRQýIURPýWKHýORFDOýV\VWHPýWRýWKHýQRQðORFDOýTXHXHýPDQDJHUïýý8VLQJýWKLVýFRQQHFWLRQñýDýGHYHORSHUýFDQýYHULI\ýWKDWýPHVVDJHVýVHQWýIURPýWKHýORFDOýDSSOLFDWLRQýWKURXJKýDýWUDQVPLWýTXHXHýKDYHýEHHQýSURSHUO\ýUHFHLYHGýE\ýWKHýTXHXHýPDQDJHUýRQýWKHýQRQðORFDOýV\VWHPïýý%HFDXVHý34(GLWýOHWVý\RXýGLVSOD\ýPHVVDJHVýRQýWKHýQRQðORFDOýTXHXHýõWKURXJKýWKHý04,ýFOLHQWôñýDVýZHOOýDVýGLVSOD\ýPHVVDJHVýLQýWKHýORFDOýTXHXHñý\RXýFDQýHDVLO\ýWHVWý\RXUýDSSOLFDWLRQöVýGLVWULEXWHGýTXHXLQJýFRQQHFWLRQïýý

6HWWLQJý8Sý<RXUý&OLHQWý&RQQHFWLRQ

çé &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

6HWWLQJý8Sý<RXUý&OLHQWý&RQQHFWLRQý

:LWKý34(GLWñý\RXýRSHQýDýTXHXHýE\ýXVLQJýWKHý04,ýFOLHQWïý<RXýPXVWýHQWHUýWKHýQDPHýRIýDýQRQðORFDOýFOLHQWýTXHXHýPDQDJHUýZKHQýRSHQLQJýDýTXHXHïý

7RýRSHQýDýTXHXHýRQýDýQRQðORFDOýTXHXHýPDQDJHUýLQý34(GLWñýFKRRVHý2SHQýIURPýWKHý)LOHýPHQXïýý(QWHUýDýJUHDWHUýWKDQýVLJQýõ!ôýLQýWKHý4XHXHý0DQDJHUýILHOGýDVýDýSUHIL[ýWRýWKHýQRQðORFDOýTXHXHýPDQDJHUýQDPHïýý7KHýJUHDWHUýWKDQýVLJQýõ!ôýSUHIL[ýLQGLFDWHVýWRý34(GLWýWKDWýWKHýTXHXHýPDQDJHUýEHLQJýRSHQHGýLVýDýQRQðORFDOýTXHXHýPDQDJHUïý

1RWHãý 2QO\ýXVHýWKHý!ýVLJQýWRýVSHFLI\ýWKHýQDPHýRIýDýTXHXHýPDQDJHUýRQýDQRWKHUýPDFKLQHï

n 3UHUHTXLVLWHVýIRUýWHVWLQJýXVLQJý04,ýFOLHQWVýZLWKý34(GLW

%HIRUHý\RXýEHJLQýDSSOLFDWLRQýWHVWLQJýXVLQJýDQý04,ýFOLHQWýZLWKý34HGLWñýPDNHýVXUHýWRýYHULI\ýWKHýIROORZLQJã

n 7KHý046HULHVýFOLHQWýFRGHýLVýLQVWDOOHGýRQý\RXUýZRUNVWDWLRQ

n 7KHýQRQðORFDOýTXHXHýPDQDJHUýDQGýOLVWHQHUýRUýLQHWGýLVýUXQQLQJýDVýUHTXLUHGýõVHHýWKHý,%0ý046HULHVý&OLHQWVýJXLGHô

n <RXýKDYHýGHILQHGýWKHýSURSHUý659&211ýDQGýFOLHQWýFRQQHFWLRQýFKDQQHOýFRQQHFWLRQV

n 34(GLWýFORVHVýWKHýFOLHQWýFRQQHFWLRQýZKHQý\RXýFORVHýWKHýTXHXHï

4XHXHý0DQDJHUýZLWKý!ýSUHIL[ýWRýRSHQýFOLHQW

&DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH çè

&KDSWHUýçï2SHQLQJýDý4XHXH

,QWURGXFWLRQ

7KLVýFKDSWHUýGHVFULEHVýWKHýVWHSVýUHTXLUHGýWRýRSHQýDQýH[LVWLQJýTXHXHýXVLQJýWKHý)LOHýPHQXïýý,WýDOVRýLQFOXGHVýDýGLVFXVVLRQýRIýWKHýRWKHUý)LOHýFRPPDQGVñýH[FHSWýIRUýWKHý1HZý4XHXHýFRPPDQGïýý7KHý1HZý4XHXHýFRPPDQGýLVýGLVFXVVHGýLQý&KDSWHUýìëý¦&UHDWLQJýDý1HZý4XHXHï§ý

&KDSWHUý&RQWHQWV

7KHý)LOHý0HQX ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýçç2SHQý4XHXHýFRPPDQGýõ*8,ô ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýçç

2SHQý4XHXHý'LDORJý%R[ýõ*8,ôýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýçæ

2SHQý4XHXHý3DQHOýõ,63)ô ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýçå

2SHQý4XHXHý)LHOGV ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýçä4XHXHý1DPHýDQGý4XHXHý0DQDJHUïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýçä&RQWH[W ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýçä)LOWHUýPHVVDJHV ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýæí(GLWý8QGHUý6\QFSRLQWý&RQWUROïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýæì2SHQý5HDGý2QO\ ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýæì'LVSOD\ý4XHXHýLQý/RJLFDOý2UGHU ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýæì5HDVVHPEOHý6HJPHQWHGý0HVVDJHVïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýæì/LVWý4XHXHVýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýæì4XHXHý7\SHV ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýæì

+RZýWRý2SHQýDý4XHXHýõ*8,ôýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýæê

+RZýWRý2SHQýDý4XHXHýõ,63)ôïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýæé

(GLWLQJý8QGHUý6\QFSRLQWý&RQWURO ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýæè+RZý34(GLWý6XSSRUWVý6\QFSRLQW ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýæè

ç

7KHý)LOHý0HQX

çç &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

7KHý)LOHý0HQX

,QýWKHý*8,ýHQYLURQPHQWñýWKHý34(GLWý)LOHýPHQXýLVýXVHGýWRýRSHQýH[LVWLQJýTXHXHVñýFUHDWHýQHZýTXHXHVýDQGýFORVHýTXHXHVýLQýWKHý4XHXHýZLQGRZïýý$GGLWLRQDOýFRPPDQGVýOHWý\RXýUHðIUHVKñýFRPPLWñýDQGýUROOEDFNýFKDQJHVýPDGHýWRýDýTXHXHïýý7KHý)LOHýPHQXýDOVRýOHWVý\RXýSHUðIRUPýVWDQGDUGýDSSOLFDWLRQýIXQFWLRQVýVXFKýDVýSDJHýVHWXSñýSULQWLQJñýDQGýH[LWLQJïýý

8QGHUý,63)ñý)LOHýPHQXýFRPPDQGVýOHWý\RXýUHIUHVKñýFRPPLWñýDQGýUROOEDFNýFKDQJHVýPDGHýWRýDýTXHXHïýý,WýDOVRýOHWVý\RXýSULQWýDýTXHXHýDQGýH[LWý34(GLWïýýý&RPPDQGVýWKDWýDUHýXQDYDLOðDEOHýXQGHUý,63)ýDUHýOLVWHGýZLWKýDQýDVWHULVNýõóôýLQVWHDGýRIýDýPHQXýVHOHFWLRQýQXPEHUï

)LOHý0HQXýõ*8,ýYHUVLRQô ý)LOHý0HQXýýõ,63)ýYHUVLRQô

n 2SHQý4XHXHýFRPPDQGýõ*8,ô

7KHý2SHQý4XHXHýFRPPDQGýGLVSOD\VýWKHý2SHQý4XHXHýGLDORJýER[ïýý6HHýWKHýQH[WýWRSLFýIRUýLQIRUPDWLRQýRQýKRZýWRýXVHýWKHý2SHQý4XHXHýGLDORJýER[ïýý

)RUýLQIRUPDWLRQýRQýKRZýWRýFUHDWHýQHZýTXHXHVñýVHHý&KDSWHUýìëý¦&UHDWLQJýDý1HZý4XHXHï§ý

ý)LOHïðððððððððððððððððï_ýBýýìïý5HIUHVKýýý__ýýýýóïý&RPPLWýýýý__ýýýýóïý5ROOEDFNýý__ýýýýéïý3ULQWýïïïý__ýýýýèïý([LWýýýýýý_�ððððððððððððððððð�

*8,

,63)

&KDSWHUýçïý2SHQLQJýDý4XHXH çæ

2SHQý4XHXHý'LDORJý%R[ýõ*8,ô

2SHQý4XHXHý'LDORJý%R[ýõ*8,ô

8VHýWKHý2SHQý4XHXHýGLDORJýER[ýWRýVHOHFWýDQýH[LVWLQJýTXHXHýWRýEURZVHýRUýHGLWïýý7KHý2SHQý4XHXHýGLDORJýER[ýDOVRýSHUPLWVý\RXýWRýILOWHUýPHVVDJHVñýHGLWýDýTXHXHýXQGHUýV\QFSRLQWýFRQWUROñýRUýRSHQýWKHýTXHXHýLQýUHDGðRQO\ýPRGHïýý,Iý\RXýDUHýFRQQHFWHGýWRý04ý9èý4XHXHý0DQDJHUñý\RXýPD\ýDOVRýGLVSOD\ýPHVVDJHVýLQýORJLFDOýRUGHUýDQGýKDYHý34(GLWýGLVSOD\ýFRPSOHWHýPHVVDJHVïý7KHý¦2SHQý4XHXHý)LHOGV§ýVHFWLRQýOLVWVýWKHýLQIRUPDWLRQýSURYLGHGýRQýWKHý2SHQý4XHXHýGLDORJýER[ýDQGýGHVFULEHVýRSWLRQVýDYDLODEOHýIRUýRSHQLQJýDýTXHXHï

*8,

2SHQý4XHXHý3DQHOýõ,63)ô

çå &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

2SHQý4XHXHý3DQHOýõ,63)ô

8QGHUý,63)ýWKHýILUVWýSDQHOýWKDWýDSSHDUVýLVýXVHGýWRýVHOHFWýDQýH[LVWLQJýTXHXHýWRýEURZVHýRUýHGLWïýý7KLVýSDQHOñýWKHý2SHQý4XHXHýSDQHOñýDOVRýSHUPLWVý\RXýWRýILOWHUýPHVVDJHVñýHGLWýDýTXHXHýXQGHUýV\QFSRLQWýFRQWUROñýRUýRSHQýWKHýTXHXHýLQýUHDGðRQO\ýPRGHïýý7KHýIROORZLQJýWRSLFVýOLVWýWKHýLQIRUPDWLRQýSURYLGHGýRQýWKHý2SHQý4XHXHýSDQHOýDQGýGHVFULEHýWKHýRSWLRQVýDYDLODEOHýIRUýRSHQLQJýDýTXHXHï

ý)LOHýý6HDUFKýý7RROVýý+HOSýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððýýýýýýýýýýýýýýýýýýýýýýýýý34(GLWýðý(GLWRUýIRUý046HULHVýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý(QWHUýWKHýIROORZLQJýILHOGVãýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý4XHXHý1DPHýïýïýïýïýïý,192,&(6ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý4XHXHý0DQDJHUýýïýïýïý404éýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý6HOHFWý&RQWH[WýIRUýRSHQLQJýTXHXHïýýýýý2SWLRQVýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýìýýýìïýý'HIDXOWý&RQWH[Wýýýýýýýýýýýýýýýýýý)LOWHUý0HVVDJHVýýýýýýýýýýýýýýýýýýýýýýýýëïýý1Rý&RQWH[Wýýýýýýýýýýýýýýýýýýýýîýý(GLWýXQGHUý6\QFSRLQWý&RQWUROýýýýýýýýýýýêïýý3DVVý,'ý&RQWH[Wýýýýýýýýýýýýýýýýýý2SHQý5HDGý2QO\ýýýýýýýýýýýýýýýýýýýý

,63)

&KDSWHUýçïý2SHQLQJýDý4XHXH çä

2SHQý4XHXHý)LHOGV

2SHQý4XHXHý)LHOGV

8VHýWKHýIROORZLQJýILHOGVýRQýWKHý2SHQý4XHXHýGLDORJýER[ýRUý2SHQý4XHXHýSDQHOýWRýRSHQýDýTXHXHýLQý34(GLWï

n 4XHXHý1DPHýDQGý4XHXHý0DQDJHU

7RýRSHQýDýTXHXHñý\RXýPXVWýHQWHUýWKHýTXHXHýQDPHýDQGýWKHýTXHXHýPDQDJHUïýý,Iý\RXUýTXHXHýLVýORFDWHGýLQýWKHýGHIDXOWýTXHXHýPDQDJHUñý\RXýGRýQRWýQHHGýWRýHQWHUýWKHýQDPHýRIýWKHýTXHXHýPDQDJHUïý2WKHUZLVHñý\RXýPD\ýVHOHFWýDýUHFHQWO\ýXVHGýTXHXHýPDQDJHUýXVLQJýWKHýGURSGRZQýOLVWýRUýHQWHUýWKHýQDPHýRIýWKHýTXHXHýPDQDJHUïýý7KHýODVWýTXHXHýPDQDJHUý\RXýKDYHýVXFFHVVIXOO\ýFRQQHFWHGýWRýLVýGLVSOD\HGýE\ýGHIDXOWïýý

,QýDý*8,ýHQYLURQPHQWñýWRýRSHQýDýQRQðORFDOýTXHXHýWKURXJKýDQý04,ýFOLHQWýFRQQHFWLRQñýHQWHUýDýJUHDWHUýWKDQýV\PEROýõ!ôýDVýDýSUHIL[ýEHIRUHýHQWHULQJýWKHýQRQðORFDOýTXHXHýPDQDJHUýQDPHïýý,IýWKHýQRQðORFDOýTXHXHýPDQDJHUýLVýWKHýGHIDXOWýIRUýWKHýKRVWýFRPSXWHUñý\RXýRQO\ýQHHGýWRýHQWHUýWKHýJUHDWHUýWKDQýV\PEROýSUHIL[ýLQýWKHý4XHXHý0DQDJHUýILHOGï

8QGHUý,63)ñýWRýGLVSOD\ýDýVHOHFWLRQýSDQHOýWRýFKRRVHýZKLFKýTXHXHýQDPHýWRýRSHQñýHQWHUýDQýDVWHULVNýõóôýDWýWKHý4XHXHý1DPHýILHOGïýý7RýQDUURZýWKHýOLVWýRIýTXHXHýQDPHVýDYDLODEOHýRQýWKHýVHOHFWLRQýSDQHOñý\RXýFDQýHQWHUýWKHýILUVWýFKDUDFWHUýRUýFKDUDFWHUVýRIýWKHýTXHXHýQDPHýIROORZHGýE\ýDQýDVWHULVNïý

1RWHãý'RýQRWýXVHýWKHý!ýSUHIL[ýLIýWKHýTXHXHýPDQDJHUýLVýRQý\RXUýORFDOýPDFKLQHï

n &RQWH[W

<RXýPD\ýVHOHFWýDýFRQWH[WýRSWLRQýWRýXVHýZKLOHýHGLWLQJýDýTXHXHïý7KHýFRQWH[WýSURYLGHVýLQIRUPDWLRQýDERXWýWKHýRULJLQýRIýDýPHVVDJHïýý&RQWH[WýLQIRUPDWLRQýLVýVWRUHGýLQýHLJKWýILHOGVýRIýWKHý046HULHVýPHVVDJHýGHVFULSWRUïý

ý 34(GLWýðý6SHFLI\ý4XHXHýýýýýýýýýýý5RZýìýWRýìêýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý6HOHFWýWKHýGHVLUHGý4XHXHýDQGýSUHVVý(QWHUýWRýDSSO\ãýýýýýýýýýýýýýýýýýýýýýýýýýýýýý

ýBýýý&,&6íìï,1,74ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýBýýý'0,//(5ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýBýýý),/7(54ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý6ýýý),/7(54ëýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýBýýý,192,&(6ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýBýýý,192,&(6ëýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýBýýý,192,&(6êýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýBýýý/2&$/ï)250$7('ï)285ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýBýýý/2&$/ï1213(56,67ï)285ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýBýýý/2&$/ï48(8(ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýBýýý/3(94êýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýBýýý/34/êýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýBýýý/34êýýý

&RPPDQGý !ýýýýýýýýýýýýýýýýýýýýýýýý 6FUROOý !ý3$*(

6HOHFWHGýTXHXH

*8,

,63)

2SHQý4XHXHý)LHOGV

æí &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

,Qý34(GLWý\RXýFDQýRSWLRQDOO\ýGLVSOD\ýVRPHýRUýDOOýRIýWKHýPHVVDJHýGHVFULSWRUýILHOGVïýý<RXUýFKRLFHýRIýDýFRQWH[WýRSWLRQýLQý34(GLWýGHWHUPLQHVý\RXUýDELOLW\ýZLWKLQý34(GLWýWRýHGLWýLQIRUPDWLRQýLQýWKHýHLJKWýFRQWH[WýILHOGVýLQýWKHýPHVVDJHýGHVFULSWRUï

7KHUHýDUHýVL[ýFRQWH[WýRSWLRQVýLQý34(GLWãý

n 'HIDXOWý&RQWH[W

n 1Rý&RQWH[W

n 3DVVý,'ý&RQWH[W

n 3DVVý$OOý&RQWH[W

n 6HWý,'ý&RQWH[W

n 6HWý$OOý&RQWH[W

7KHýIROORZLQJýWDEOHýOLVWVýWKHýFRQWH[WýILHOGVýLQý046HULHVýDQGýWKHý34(GLWý&RQWH[WýRSWLRQVïýý7KHýPDUNHGýILHOGVýLQGLFDWHýWKHýPHVVDJHýGHVFULSWRUýILHOGVý\RXýPD\ýHGLWýLQý34(GLWýDFFRUGLQJýWRýWKHý&RQWH[WýRSWLRQý\RXýKDYHýFKRVHQïý

5HPHPEHUýWKDWý046HULHVýVHFXULW\ýPD\ýSUHYHQWý\RXýIURPýHGLWLQJýDýSDUWLFXODUýFRQWH[Wïýý<RXýPXVWýKDYHýULJKWVýWRýHGLWýDýSDUWLFXODUýFRQWH[WýILHOGýEHIRUHý\RXýFDQýFKDQJHýLQIRUPDðWLRQýLQýWKHýILHOGïý

)RUýPRUHýLQIRUPDWLRQýRQýFRQWH[WýLQý046HULHVñýVHHýWKHý046HULHVý$SSOLFDWLRQý3URJUDPPLQJý*XLGHýõ6&êêðíåíæôï

n )LOWHUýPHVVDJHVý

34(GLWýHQDEOHVý\RXýWRýILOWHUýPHVVDJHVýE\ýVSHFLI\LQJýVHOHFWLRQýFULWHULDýWRýXVHýLQýJHWWLQJýPHVVDJHVýIURPýDýTXHXHïýý<RXýHQWHUýWKHýVHOHFWLRQýFULWHULDýIURPýFRQGLWLRQýH[SUHVVLRQVýDSSOLHGýWRýPHVVDJHýILHOGVï

&RQWH[W

0HVVDJHý'HVFULSWRU 'HIDXOW&RQWH[W

1Rý&RQWH[W

3DVVý,'&RQWH[W

3DVVý$OOý&RQWH[W

6HWý,'ý&RQWH[W

6HWý$OO&RQWH[W

8VHU,GHQWLILHU 4 4

$FFRXQWLQJ7RNHQ 4 4

$SSO,GHQWLW\'DWD 4 4

3XW$SSO7\SH 4

3XW$SSO1DPH 4

3XW'DWH 4

3XW7LPH 4

$SSO2ULJLQ'DWD 4

&KDSWHUýçïý2SHQLQJýDý4XHXH æì

2SHQý4XHXHý)LHOGV

<RXýFDQýLQFOXGHýPHVVDJHýGHVFULSWRUVýLQý\RXUýILOWHUVïýý7KLVýLVýXVHIXOýIRUýVHOHFWLQJýPHVVDJHVýRULJLQDWLQJýIURPýDýSDUWLFXODUýORFDWLRQýRUýVHQWýRQýDýVSHFLILFýGDWHïý

,Iý\RXýVHOHFWý)LOWHUý0HVVDJHVýEHIRUHý\RXýRSHQýDýTXHXHñý34(GLWýGLVSOD\VýWKHý)LOWHUýGLDORJýER[ýRUýSDQHOýEHIRUHýGLVSOD\LQJýWKHýPHVVDJHVýLQýWKHýTXHXHïýý)RUýPRUHýLQIRUPDWLRQýRQýKRZýWRý)LOWHUý0HVVDJHVñýVHHý&KDSWHUýììïýû)LOWHULQJý0HVVDJHVïûý

n (GLWý8QGHUý6\QFSRLQWý&RQWUROý

6HOHFWýWKHý(GLWý8QGHUý6\QFSRLQWý&RQWUROýER[ýWRýHQDEOHýWKHý&RPPLWýDQGý5ROOEDFNýFRPPDQGVýIURPýWKHý)LOHý0HQXïýý,Iý\RXýGRýQRWýVHOHFWýWKLVýER[ñý\RXýZLOOýQRWýEHýDEOHýWRýUROOEDFNýDQ\ýFKDQJHVý\RXýPDNHýWRýDýTXHXHïýý6HHýWKHýWRSLFñýû(GLWLQJý8QGHUý6\QFSRLQWý&RQWUROûýLQýWKLVýVHFWLRQýIRUýPRUHýLQIRUPDWLRQýRQýWKHýHIIHFWýRIýWKLVýVHOHFWLRQï

n 2SHQý5HDGý2QO\

<RXýPD\ýFKRRVHýWRýRSHQýDýTXHXHýIRUýEURZVLQJýPHVVDJHVýRQO\ïýý7KLVýRSWLRQýOHWVý\RXýGLVSOD\ýDýTXHXHýHYHQýWKRXJKýDQRWKHUýXVHUýPD\ýKDYHýWKHýTXHXHýRSHQýIRUýH[FOXVLYHýXVHïýý,IýWKHýRWKHUýXVHUýXSGDWHVýWKHýTXHXHñý\RXýRQO\ýVHHýWKHýXSGDWHVýDIWHUý\RXýUHIUHVKýRUýFRPPLWýWKHýTXHXHï

n 'LVSOD\ý4XHXHýLQý/RJLFDOý2UGHU

1RWHãý/RJLFDOý2UGHULQJýRIýPHVVDJHVýLVýVXSSRUWHGýRQý046HULHVý9HUVLRQýèýSURGXFWVýRQO\ï

6HOHFWýWKHý'LVSOD\ý4XHXHýLQý/RJLFDOý2UGHUýER[ýWRýGLVSOD\ýWKHýTXHXHýLQýORJLFDOýUDWKHUýWKDQýSK\VLFDOýRUGHUïý)RUýPRUHýLQIRUPDWLRQýDERXWý/RJLFDOý2UGHULQJñýVHHýWKHý046HULHVý$SSOLFDWLRQý3URJUDPPLQJý*XLGHï

n 5HDVVHPEOHý6HJPHQWHGý0HVVDJHV

1RWHãý6HJPHQWHGý0HVVDJHVýDUHýVXSSRUWHGýRQý046HULHVý9HUVLRQýèýSURGXFWVýRQO\ï

8VHýWKLVýRSWLRQýWRýUHDVVHPEOHýVHJPHQWHGýPHVVDJHVýDVýRQHýPHVVDJHýZKHQýGLVSOD\LQJýWKHýTXHXHï

n /LVWý4XHXHV

,QýDý*8,ýHQYLURQPHQWñýWKHý/LVWýEXWWRQýOLVWVýTXHXHVýRIýDýVHOHFWHGýTXHXHýW\SHýRUýDOOýTXHXHýW\SHVïý,Iý\RXýFKDQJHýWKHýTXHXHýPDQDJHUñý\RXýPXVWýSUHVVýWKHý/LVWýEXWWRQýDJDLQýWRýUHWULHYHýWKHýTXHXHýQDPHVýIRUýWKDWýTXHXHýPDQDJHUïýý'RXEOHðFOLFNýDýTXHXHýQDPHýLQýWKHýOLVWýWRýRSHQýWKDWýTXHXHï

n 4XHXHý7\SHV

,QýDý*8,ýHQYLURQPHQWñýDýGURSGRZQýOLVWýOHWVý\RXýHQWHUýWKHýW\SHýRIýTXHXHVý\RXýZDQWýGLVSOD\HGýLQýWKHýOLVWýER[ýDWýWKHýERWWRPýRIýWKHý2SHQý4XHXHýGLDORJýER[ïýý8VHýWKLVýGURSGRZQýWRýQDUURZýWKHýTXHXHýQDPHýOLVWýWRýSDUWLFXODUýW\SHVýRIýTXHXHVïý

7KHýIROORZLQJýTXHXHýW\SHVýDUHýDYDLODEOHãý

n $OO

2SHQý4XHXHý)LHOGV

æë &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

n /RFDO

n 5HPRWH

n $OLDV

n 0RGHO

&KDSWHUýçïý2SHQLQJýDý4XHXH æê

+RZýWRý2SHQýDý4XHXHýõ*8,ô

+RZýWRý2SHQýDý4XHXHýõ*8,ôý

8VHýWKLVýSURFHGXUHýWRýRSHQýDQýH[LVWLQJýTXHXHýLQý34(GLWïýý,QýDý*8,ýHQYLURQPHQWñý\RXýRSHQýDýTXHXHýXVLQJýWKHý2SHQý4XHXHýFRPPDQGýIURPýWKHý)LOHýPHQXïýý<RXýWKHQýHQWHUýRUýVHOHFWýWKHýTXHXHý\RXýZDQWýIURPýWKHý2SHQý4XHXHýGLDORJýER[ï

6WHSýìï 6HOHFWý2SHQý4XHXHýIURPýWKHý)LOHý0HQXïýý7KHý2SHQý4XHXHýGLDORJýER[ýDSSHDUVï

6WHSýëï $Wý4XHXHý1DPHñýHQWHUýWKHýTXHXHýQDPHý\RXýZDQWýWRýRSHQïýý,Iý\RXýGRýQRWýUHPHPEHUýWKHýQDPHýRIýWKHýTXHXHñý\RXýFDQýOHDYHýWKLVýILHOGýEODQNýDQGýXVHýWKHý/LVWýEXWWRQýWRýOLVWýWKHýDYDLODEOHýTXHXHýQDPHVï

,Iý\RXUýTXHXHýQDPHýLVýORFDWHGýLQýWKHýGHIDXOWýTXHXHýPDQDJHUñýGRýQRWýHQWHUýDý4XHXHý0DQDJHUïýý2WKHUZLVHñýVHOHFWýDýUHFHQWO\ýXVHGýTXHXHýPDQDJHUýXVLQJýWKHýGURSGRZQñýRUýHQWHUýWKHýTXHXHýPDQDJHUýQDPHý\RXýZDQWýWRýFRQQHFWýWRïýý

6WHSýêï 7RýRSHQýDýQRQðORFDOýTXHXHýPDQDJHUýWKURXJKýDQý04ýFOLHQWýFRQQHFWLRQñýHQWHUýDýJUHDWHUýWKDQýV\PEROýõ!ôýDVýDýSUHIL[ýEHIRUHýHQWHULQJýWKHýQRQðORFDOýTXHXHýPDQDJHUýQDPHïý

6WHSýéï 6HOHFWýWKHý&RQWH[WýWRýEHýXVHGýZKLOHýHGLWLQJýWKLVýTXHXHïýý

6WHSýèï &OLFNý)LOWHUý0HVVDJHVýLIý\RXýZDQWýWRýVSHFLI\ýFULWHULDýWRýXVHýLQýVHOHFWLQJýPHVVDJHýGDWDýIURPýWKHýTXHXHïýý,Iý\RXýVHOHFWý)LOWHUý0HVVDJHVñýZKHQý\RXýRSHQýWKHýTXHXHñýWKHý34(GLWýGLVSOD\VýWKHý)LOWHUýGLDORJýER[ýXVHGýWRýLQGLFDWHýWKHýVHOHFWLRQýFRQGLWLRQVýIRUýDFFHVVLQJýPHVVDJHVï

6WHSýçï &OLFNý(GLWý8QGHUý6\QFSRLQWý&RQWUROýLIý\RXýZDQWýWRýKDYHý&RPPLWýDQGý5ROOEDFNýFDSDELOLWLHVýZKLOHýPDNLQJýPRGLILFDWLRQVýWRýDýTXHXHïýý

6WHSýæï &OLFNý2SHQý5HDGý2QO\ýLIý\RXýZDQWýWRýRSHQýDýTXHXHýIRUýEURZVLQJýPHVVDJHVýRQO\ïýý,Iý\RXýGRýQRWýVHOHFWý2SHQý5HDGý2QO\ñý\RXýPD\ýHGLWýPHVVDJHVýLQýWKHýTXHXHï

6WHSýåï &OLFNý'LVSOD\ý4XHXHýLQý/RJLFDOý2UGHUýLIý\RXýZDQWýWRýGLVSOD\ýPHVVDJHVýLQýORJLFDOýUDWKHUýWKDQýSK\VLFDOýRUGHUï

6WHSýäï &OLFNý5HDVVHPEOHý6HJPHQWHGý0HVVDJHVýLIý\RXýZDQWýWRýUHDVVHPEOHýVHJPHQWHGýPHVVDJHVýDVýRQHýPHVVDJHýZKHQýGLVSOD\LQJýWKHýTXHXHï

6WHSýìíï $Wý4XHXHý7\SHVñýVHOHFWýWKHýW\SHýRIýTXHXHVýLQýWKHýFXUUHQWýTXHXHýPDQDJHUý\RXýZDQWýWRýOLVWýLQýWKHý2SHQý4XHXHýOLVWýER[ï

6WHSýììï &OLFNýWKHý/LVWýEXWWRQýWRýOLVWýTXHXHVýRIýDýVHOHFWHGýTXHXHýW\SHýRUýDOOýTXHXHýW\SHVýLQýWKHýER[ýDWýWKHýERWWRPýRIýWKHý2SHQý4XHXHýGLDORJýER[ïýý,Iý\RXýFKDQJHýWKHýTXHXHýPDQDJHUñý\RXýPXVWýFOLFNýWKHý/LVWýEXWWRQýDJDLQýWRýUHWULHYHýWKHýTXHXHýQDPHVýIRUýWKDWýTXHXHýPDQDJHUïý

1RWHãý6\VWHPýDOORZVýRQO\ýìíýVHFRQGVýWRýVKRZýVHOHFWHGýOLVWýRIýTXHXHýW\SHVïïý<RXýPD\ýZDQWýWRýOLPLWýVHOHFWLRQýE\ýXVLQJýVRPHýZLOGFDUGýOLNHý6óïý,Iý\RXUýOLVWýWDNHVýORQJHUýWKDQýìíýVHFRQGVýWRýFROOHFWýDQGýVKRZýGDWDñýDQýHUURUýPHVVDJHýLVýLVVXHGïý6KRUWHQý\RXUý/LVWýDQGýVWDUWýDJDLQï

6WHSýìëï 6HOHFWýDýTXHXHýQDPHýDQGýFOLFNý2SHQñýRUýGRXEOHðFOLFNýWKHýTXHXHýQDPHï

*8,

+RZýWRý2SHQýDý4XHXHýõ,63)ô

æé &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

+RZýWRý2SHQýDý4XHXHýõ,63)ôý

8VHýWKLVýSURFHGXUHýWRýRSHQýDQýH[LVWLQJýTXHXHýLQý34(GLWýXQGHUý,63)ïýý<RXýRSHQýDýTXHXHýXVLQJýWKHý2SHQý4XHXHýFRPPDQGýIURPýWKHý)LOHýPHQXïýý<RXýWKHQýHQWHUýRUýVHOHFWýWKHýTXHXHý\RXýZDQWýIURPýWKHý2SHQý4XHXHýGLDORJýER[ï

6WHSýìï /RJRQýRQýWRý\RXUýV\VWHPýDQGýVWDUWý,63)ïý

6WHSýëï $WýWKHý&RPPDQGýOLQHñýW\SHý762ý34(',7ïýý7KHý34(GLWýðý(GLWRUýIRUý046HULHVýõ2SHQý4XHXHôýSDQHOýDSSHDUVï1RWHãýý,Iý\RXýDUHýDOUHDG\ýLQý34(GLWýZLWKýDýTXHXHýRSHQñýSUHVVý)êýDWýWKHý4XHXHýSDQHOï

6WHSýêï $Wý4XHXHý1DPHñýHQWHUýWKHýTXHXHýQDPHý\RXýZDQWýWRýRSHQïýý

,Iý\RXUýTXHXHýQDPHýLVýORFDWHGýLQýWKHýGHIDXOWýTXHXHýPDQDJHUñýGRýQRWýHQWHUýDý4XHXHý0DQDJHUïýý2WKHUZLVHñýHQWHUýWKHýTXHXHýPDQDJHUýQDPHý\RXýZDQWýWRýFRQQHFWýWRïýý

6WHSýéï 6HOHFWýWKHý&RQWH[WýWRýEHýXVHGýZKHQýRSHQLQJýWKLVýTXHXHïý&RQWH[WýLVýDQýRSWLRQýRQýWKHý2SHQý4XHXHýSDQHOï

6WHSýèï 6HOHFWýWKHý)LOWHUý0HVVDJHVýRSWLRQýLIý\RXýZDQWýWRýVSHFLI\ýFULWHULDýWRýXVHýLQýVHOHFWLQJýPHVVDJHýGDWDýIURPýWKHýTXHXHïýý,Iý\RXýVHOHFWý)LOWHUý0HVVDJHVñýZKHQý\RXýRSHQýWKHýTXHXHñý34(GLWýGLVSOD\VýWKHý)LOWHUýGLDORJýER[ýXVHGýWRýLQGLFDWHýWKHýVHOHFWLRQýFRQGLWLRQVýIRUýDFFHVVLQJýPHVVDJHVï

6WHSýçï 6HOHFWýWKHý(GLWý8QGHUý6\QFSRLQWý&RQWUROýRSWLRQýLIý\RXýZDQWýWRýKDYHý&RPPLWýDQGý5ROOEDFNýFDSDELOLWLHVýZKLOHýPDNLQJýPRGLILFDWLRQVýWRýDýTXHXHïýý

6WHSýæï 6HOHFWýWKHý2SHQý5HDGý2QO\ýRSWLRQýLIý\RXýZDQWýWRýRSHQýDýTXHXHýIRUýEURZVLQJýPHVVDJHVýRQO\ïýý,Iý\RXýGRýQRWýVHOHFWý2SHQý5HDGý2QO\ñý\RXýPD\ýHGLWýPHVVDJHVýLQýWKHýTXHXHï

6WHSýåï 3UHVVýá(QWHU!ýWRýH[LWýWKHýSDQHOýDQGýRSHQýWKHýTXHXHýLQýWKHý34(GLWý4XHXHýSDQHOï

,63)

&KDSWHUýçïý2SHQLQJýDý4XHXH æè

(GLWLQJý8QGHUý6\QFSRLQWý&RQWURO

(GLWLQJý8QGHUý6\QFSRLQWý&RQWURO

7KUHHýFRPPDQGVýRQýWKHý)LOHýPHQXýDUHýUHODWHGýWRýHGLWLQJýXQGHUýV\QFSRLQWýFRQWUROïýý7KHVHýLQFOXGHýWKHý5HIUHVKñý&RPPLWñýDQGý5ROOEDFNýFRPPDQGVïýý7KH\ýDUHýDYDLODEOHýLQýDý*8,ýHQYLURQPHQWýRUýXQGHUý,63)ï

$ýV\QFSRLQWýLVýDýSRLQWýGXULQJýSURFHVVLQJýRIýDýWUDQVDFWLRQýDWýZKLFKýWKHýWUDQVDFWLRQöVýSURWHFWHGýUHVRXUFHVýDUHýFRQVLVWHQWïýý$WýDýV\QFSRLQWñýFKDQJHVýPDGHýXVLQJý34(GLWýFDQýEHýVDIHO\ýFRPPLWWHGñýRUýWKH\ýFDQýEHýEDFNHGýRXWýWRýWKHýSUHYLRXVýV\QFSRLQWïýý7\SLFDOO\ñý\RXýXVHýV\QFSRLQWýFRQWUROýZKHQý\RXýDUHýLQVHUWLQJýRUýPDNLQJýFKDQJHVýWRýPRUHýWKDQýRQHýPHVVDJHýDQGýWKRVHýFKDQJHVýPXVWýEHýFRQVLVWHQWï

(GLWLQJýXQGHUýV\QFSRLQWýSURYLGHVýDýPHFKDQLVPýIRUýUHVWRULQJýWKHýVWDWHýRIýWKHýTXHXHýLQýWKHýHYHQWýRIýHUURUýRUýV\VWHPýIDLOXUHïýý$Q\ýFKDQJHVý\RXýPDNHýEHIRUHýWKHýV\QFSRLQWýFDQýEHýUROOHGýEDFNýWRýWKHýSUHYLRXVýV\QFSRLQWýLIýQRýDFWLRQýKDVýEHHQýWDNHQýWRýFRPPLWýWKHPï

n +RZý34(GLWý6XSSRUWVý6\QFSRLQW

:KHQý\RXýRSHQýDýTXHXHñý\RXýFDQýHLWKHUýFKRRVHýWKHý(GLWý8QGHUý6\QFSRLQWý&RQWUROýRSWLRQýRUýFKRRVHýQRWýWRýXVHýV\QFSRLQWýFRQWUROïýý,Iý\RXýGRýQRWýXVHýV\QFSRLQWýFRQWUROñý\RXýFDQQRWýXQGRýRUýUROOEDFNýFKDQJHVýPDGHýGXULQJýWKHýHGLWLQJýVHVVLRQïýý7KHýIROORZLQJýOLVWVýWKHýFRPPDQGVýXVHGýWRýUHIUHVKñýFRPPLWýRUýUROOEDFNýFKDQJHVýPDGHýLQý34(GLWïýý7KHVHýWKUHHýFRPPDQGVýDUHýORFDWHGýRQýWKHý)LOHýPHQXï

5HIUHVK

8VHýWKHý5HIUHVKýFRPPDQGýWRýXSGDWHýWKHýTXHXHýGLVSOD\ýWRýUHIOHFWýDQ\ýFKDQJHVýPDGHýE\ý\RXýRUýRWKHUVýWRýWKHýTXHXHïý1RWHãý7KLVýFRPPDQGýLVý127ýDYDLODEOHýLIý\RXýVHOHFWý(GLWý8QGHUý6\QFSRLQWý&RQWUROýZKHQýRSHQLQJýWKHýTXHXHï

&RPPLW

8VHýWKHý&RPPLWýFRPPDQGýWRýXSGDWHýPHVVDJHVýRQýDýTXHXHñýPDNHýWKHPýYLVLEOHýWRýRWKHUýSURJUDPVñýDQGýHVWDEOLVKHýDýQHZýV\QFSRLQWïý7KLVýFRPPDQGýLVýRQO\ýDYDLODEOHýLIý\RXýVHðOHFWHGý(GLWý8QGHUý6\QFSRLQWý&RQWUROýRQýWKHý2SHQý4XHXHýGLDORJýER[ýRUý2SHQý4XHXHýSDQHOï

5ROOEDFN

8VHýWKHý5ROOEDFNýFRPPDQGýWRýXQGRýFKDQJHVýPDGHýWRýDýTXHXHýVLQFHýWKHýODVWýV\QFSRLQWïý7KLVýFRPPDQGýLVýRQO\ýDYDLODEOHýLIý\RXýVHOHFWHGý(GLWý8QGHUý6\QFSRLQWý&RQWUROýRQýWKHý2SHQý4XHXHýGLDORJýER[ýRUýSDQHOï

(GLWLQJý8QGHUý6\QFSRLQWý&RQWURO

æç &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

&DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH ææ

&KDSWHUýæï(GLWLQJý4XHXHV

,QWURGXFWLRQ

7KLVýFKDSWHUýGHVFULEHVýKRZý\RXýHGLWýDýTXHXHýLQý34(GLWýLQýHLWKHUýDý*8,ýHQYLURQPHQWýRUýXQGHUý,63)ï

&KDSWHUý&RQWHQWV

7KHý(GLWý0HQXýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýæå7KHý(GLWý0HQXýõ*8,ô ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýæå

&XWñý&RS\ñýDQGý3DVWHý&RPPDQGVýõ*8,ôïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýæä&XW ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýæä&RS\ ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýæä3DVWHïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýæä8VLQJý&XWñý&RS\ñýDQGý3DVWHýEHWZHHQýTXHXHVïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýæä

,QVHUWýDQGý'HOHWHý&RPPDQGVýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýåí,QVHUW ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýåí'HOHWHïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýåí

(GLWLQJý2SWLRQVý8QGHUý,63)ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýåì(GLWLQJýGLUHFWO\ýLQýWKHýPHVVDJHýGDWDýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýåì(GLWLQJýXVLQJýOLQHýFRPPDQGV ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýåì6FUHHQýIHDWXUHVýXQGHUý,63) ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýåì

,QVHUWýõ,ôý/LQHý&RPPDQG ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýåê8VLQJýWKHý,QVHUWý&RPPDQGýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýåê

5HSOLFDWHýõ5ôý/LQHý&RPPDQGïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýåç8VLQJýWKHý5HSOLFDWHý&RPPDQGýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýåç

*2ýõ*ôý/LQHý&RPPDQGýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýåå8VLQJýWKHý*Rý&RPPDQG ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýåå

'HOHWHýõ'ôý/LQHý&RPPDQG ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýåä8VLQJýWKHý'HOHWHýõ'ôý&RPPDQGýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýåä

=RRPýõ=ôý/LQHý&RPPDQG ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýäì8VLQJýWKHý=RRPýõ=ôý&RPPDQG ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýäì%URZVLQJýPHVVDJHVýRUýPHVVDJHýILHOGVýLQýWKHý,63)ýHGLWRU ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýäê([LWLQJýWKHý,63)ýHGLWRU ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýäê

æ

7KHý(GLWý0HQX

æå &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

7KHý(GLWý0HQX

n 7KHý(GLWý0HQXýõ*8,ô

,QýDý*8,ýHQYLURQPHQWñý34(GLWýLQFOXGHVýDQý(GLWýPHQXýZKLFKýSURYLGHVýFRQYHQLHQWýDFFHVVýWRýWKHýIROORZLQJýFRPPDQGVýXVHGýWRýPRGLI\ýTXHXHýGDWDïýý

� &XWñý&RS\ñýDQGý3DVWHý� ,QVHUWñýDQGý'HOHWH� )RUZDUG� )LHOGýLQý+H[ýDQGý0HVVDJHýLQý+H[ý

*8,

&KDSWHUýæïý(GLWLQJý4XHXHV æä

&XWñý&RS\ñýDQGý3DVWHý&RPPDQGVýõ*8,ô

&XWñý&RS\ñýDQGý3DVWHý&RPPDQGVýýõ*8,ô

7KHý&XWñý&RS\ñýDQGý3DVWHýFRPPDQGVýIXQFWLRQýLQýDýPDQQHUýVLPLODUýWRýWKHýZD\ýWKHVHýFRPPDQGVýIXQFWLRQýLQýRWKHUý*8,ýõ*UDSKLFDOý8VHUý,QWHUIDFHôýDSSOLFDWLRQVïý

n &XW

7KHý&XWýFRPPDQGýGHOHWHVýPHVVDJHVýIURPýDýTXHXHýDQGýSODFHVýWKHPýRQWRýWKHý&OLSERDUGñýUHSODFLQJýWKHýSUHYLRXVý&OLSERDUGýFRQWHQWVïýý<RXýFDQýFXWýDýKLJKOLJKWHGýPHVVDJHýRUýJURXSýRIýPHVVDJHVñýWKHýKLJKOLJKWHGýWH[WýLQýWKHýDFWLYHýILHOGñýRUýWKHýHQWLUHýFRQWHQWVýRIýWKHýTXHXHï

n &RS\

7KHý&RS\ýFRPPDQGýFRSLHVýPHVVDJHVýIURPýDýTXHXHýRQWRýWKHý&OLSERDUGñýOHDYLQJýWKHýRULJLQDOýPHVVDJHVýLQýWKHýTXHXHýDQGýUHSODFLQJýWKHýSUHYLRXVý&OLSERDUGýFRQWHQWVïý<RXýFDQýFRS\ýDýKLJKOLJKWHGýPHVVDJHýRUýJURXSýRIýPHVVDJHVñýWKHýKLJKOLJKWHGýWH[WýLQýWKHýDFWLYHýILHOGñýRUýWKHýFRQWHQWVýRIýWKHýHQWLUHýTXHXHï

n 3DVWH

7KHý3DVWHýFRPPDQGýLQVHUWVýWKHý&OLSERDUGýFRQWHQWVýDWýWKHýLQVHUWLRQýSRLQWïýý3DVWHGýPHVVDJHVýDUHýPDUNHGýZLWKýDQý,16ýODEHOïýý7KLVýODEHOýLVýUHPRYHGýDIWHUýWKHýTXHXHýLVýUHIUHVKHGï

n 8VLQJý&XWñý&RS\ñýDQGý3DVWHýEHWZHHQýTXHXHV

<RXýFDQýXVHý&XWñý&RS\ñýDQGý3DVWHýWRýPRGLI\ýPHVVDJHVýZLWKLQýWKHýVDPHýTXHXHýRUýPRYHýPHVVDJHVýEHWZHHQýTXHXHVïýý

7RýFRS\ýPHVVDJHVýEHWZHHQýTXHXHVýGRýWKHýIROORZLQJã

ìï &RS\ýõRUýFXWôýPHVVDJHVýIURPýWKHýVRXUFHýTXHXH

ëï &ORVHýWKHýVRXUFHýTXHXHïýý

êï 2SHQýWKHýGHVWLQDWLRQýTXHXHï

éï 3DVWHýWKHýPHVVDJHVýLQWRýWKHýGHVWLQDWLRQýTXHXHïýýýýýýý

,Iý\RXýZDQWýWRýPRYHýTXHXHýGDWDýIURPýRQHýTXHXHýWRýDQRWKHUýTXHXHýZLWKRXWýRSHQLQJýWKHýGHVWLQDWLRQýTXHXHñýXVHýWKHý)RUZDUGýFRPPDQGýGHVFULEHGýLQý&KDSWHUýäý¦)RUZDUGLQJý0HVVDJHVï§ý

*8,

,QVHUWýDQGý'HOHWHý&RPPDQGV

åí &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

ý,QVHUWýDQGý'HOHWHý&RPPDQGV

n ,QVHUW

7KHý,QVHUWýFRPPDQGýSXWVýDýQHZýPHVVDJHýDWýWKHýHQGýRIýWKHýTXHXHïýý0HVVDJHVýDUHýQRWýSXWýLPPHGLDWHO\ñýEXWýDUHýLQýDýSHQGLQJýVWDWXVýWRýDOORZý\RXýWRýHQWHUýDOOýWKHýGDWDýIRUýWKHýPHVVDJHïý

0HVVDJHVýKDYHýDQý,3'ýõ,QVHUWý3HQGLQJôýVWDWXVýXQWLOý\RXýPRYHýIURPýWKHýFXUUHQWýPHVVDJHýRUýFKRRVHýDýFRPPDQGïýý,3'ýPHVVDJHVýKDYHýQRWýEHHQýSXWýWRýWKHýTXHXHïýýý

:KHQý\RXýPRYHýWRýDQRWKHUýPHVVDJHýLQýWKHýTXHXHñý34(GLWýSXWVýWKHý,3'ýPHVVDJHýDWýWKHýHQGýRIýWKHýTXHXHýDQGýFKDQJHVýWKHýODEHOýWRý,16ïýý,16ýPHVVDJHVýDSSHDUýDIWHUýWKHýFXUUHQWýPHVVDJHñýEXWýDUHýUHDOO\ýDWýWKHýHQGýRIýWKHýTXHXHïýý$IWHUý\RXýUHIUHVKýRUýFRPPLWýWKHýTXHXHñýWKHý,16ýPHVVDJHVýDSSHDUýDWýWKHýHQGýRIýWKHýTXHXHýZLWKRXWýWKHý,16ýODEHOï

n 'HOHWH

7KHý'HOHWHýFRPPDQGýGHOHWHVýDýVHOHFWHGýPHVVDJHýRUýPHVVDJHVýIURPýWKHýTXHXHïýý<RXýFDQýVHOHFWýWKHýHQWLUHýTXHXHýDQGýGHOHWHýDOOýWKHýPHVVDJHVýLQýWKHýTXHXHïý7RýVHOHFWýDOOýWKHýPHVVDJHVñýFOLFNýLQýWKHýHPSW\ýFHOOýORFDWHGýLQýWKHýWRSýOHIWýFRUQHUýRIýWKHýGLVSOD\ïý

/DEHOýIRUýLQVHUWHGýPHVVDJH

&KDSWHUýæïý(GLWLQJý4XHXHV åì

(GLWLQJý2SWLRQVý8QGHUý,63)

(GLWLQJý2SWLRQVý8QGHUý,63)

34(GLWýFORVHO\ýSDUDOOHOVý,63)ýFRQYHQWLRQVýZKHQýHGLWLQJýPHVVDJHVýLQýDýTXHXHýXQGHUý,63)ïýý<RXýFDQýGLUHFWO\ýHGLWýPHVVDJHVýE\ýRYHUW\SLQJýPHVVDJHýGDWDñýRUýXVHýOLQHýFRPPDQGVýWRýPRGLI\ýGDWDýLQýWKHýTXHXHï

n (GLWLQJýGLUHFWO\ýLQýWKHýPHVVDJHýGDWD

7RýGLUHFWO\ýHGLWýWKHýLQIRUPDWLRQýLQýDýTXHXHýXVHýWKHýPRXVHýRUýWKHýFXUVRUýFRQWUROýNH\VýWRýPRYHýWKHýFXUVRUýWRýWKHýPHVVDJHýFROXPQý\RXýZDQWýWRýFKDQJHïýý<RXýPD\ýRYHUW\SHýPHVVDJHýGDWDýWRýPDNHýFKDQJHVýWRýDýPHVVDJHýILHOGïýý,Iý\RXýFDQQRWýHQWHUýGDWDñýWKHQýWKDWýPHVVDJHýFROXPQýFRQWDLQVýLQIRUPDWLRQýWKDWýLVýQRWýHGLWDEOHïý7KLVýXVXDOO\ýRFFXUVýZLWKýGDWDýIURPýWKHýPHVVDJHýGHVFULSWRUïý

5HPHPEHUýWKDWýLIý\RXýRSHQHGýWKHýTXHXHýZLWKý2SHQý5HDGý2QO\ýVHOHFWHGñý\RXýPD\ýQRWýPDNHýFKDQJHVýWRýLQIRUPDWLRQýLQýWKHýTXHXHï

n (GLWLQJýXVLQJýOLQHýFRPPDQGV

)RUýHGLWLQJýPHVVDJHýTXHXHVñý34(GLWýDOVRýXVHVýFRPPDQGVýWKDWýUHVHPEOHý,63)ýOLQHýFRPPDQGVïýý2QýWKHý4XHXHýSDQHOñý\RXýHQWHUýDQGýPRGLI\ýPHVVDJHýGDWDýE\ýHQWHULQJýRQHýRIýWKHýIROORZLQJýOLQHýFRPPDQGVýLQýWKHý&PGýõ&RPPDQGôýFROXPQýRQýWKHýVDPHýOLQHýDVýWKHýPHVVDJHý\RXýDUHýHGLWLQJã

n ,ýðýõ,QVHUWôýðý,QVHUWýPHVVDJHV

n 5ýðýõ5HSOLFDWHôýðý5HSOLFDWHýPHVVDJHV

n 'ýðýõ'HOHWHôýðý'HOHWHýPHVVDJHV

n +ýðýõ+H[(GLWôýðý9LHZý0HVVDJHýGDWDýLQýKH[DGHFLPDOýIRUPDW

n )ýðýõ)RUZDUGôýðý)RUZDUGýPHVVDJHV

n =ýðýõ=RRPôýðý9LHZýRUýHGLWýGDWDýXVLQJýDQý,3)ýHGLWýVHVVLRQ

7KHVHýFRPPDQGVýRIIHUýYDULRXVýZD\VýWRýPRGLI\ýLQGLYLGXDOýRUýPXOWLSOHýPHVVDJHýOLQHVýE\ýHQWHULQJýDýVLQJOHýFRPPDQGï

n 6FUHHQýIHDWXUHVýXQGHUý,63)

7RýPDNHýLWýHDVLHUýWRýHGLWýXQGHUý,63)ñýWKHý4XHXHýZLQGRZýSURYLGHVýDýUHIHUHQFHýOLVWýRIýYDOLGýOLQHýFRPPDQGVïý

7KHý4XHXHýZLQGRZýDOVRýLQFOXGHVýDý0RUHýLQGLFDWRUýLQýWKHýXSSHUýULJKWýFRUQHUýRIýWKHýZLQGRZýWRýVKRZýLIýDGGLWLRQDOýTXHXHýILHOGVýH[LVWýWKDWýDUHýSRVLWLRQHGýWRýWKHýULJKWýRUýOHIWýRIýWKHýPHVVDJHýGDWDýGLVSOD\HGïý7KLVýSURYLGHVýDQýHDV\ýUHIHUHQFHýWRýWKHýKRUL]RQWDOýSRVLWLRQýRIýPHVVDJHVýWKDWýDUHýYLVLEOHýLQýWKHýGLVSOD\ýUHODWLYHýWRýWKHýHQWLUHýTXHXHïý

,63)

(GLWLQJý2SWLRQVý8QGHUý,63)

åë &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

,QWHUSUHWLQJýWKHý0RUHýLQGLFDWRU

,Iý0RUHý!ýDSSHDUVñý\RXýFDQýSDJHýWRýDGGLWLRQDOýPHVVDJHýILHOGVýWRýWKHýULJKWýRIýWKHýGLVðSOD\HGýILHOGVýE\ýSUHVVLQJýWKHý3)ììýNH\ýRUýE\ýW\SLQJý5,*+7ýRQýWKHýFRPPDQGýOLQHïý,Iý0RUHýáýDSSHDUVñý\RXýFDQýSDJHýWRýDGGLWLRQDOýPHVVDJHýILHOGVýWRýWKHýOHIWýRIýWKHýGLVSOD\HGýILHOGVýE\ýSUHVVLQJýWKHý3)ìíýNH\ýRUýE\ýW\SLQJý/()7ýRQýWKHýFRPPDQGýOLQHïý:KHQý0RUHýá!ýLVýGLVSOD\HGñý\RXýFDQýSDJHýULJKWýRUýOHIWýWRýYLHZýDGGLWLRQDOýPHVVDJHýILHOGVïý,IýQRýDUðURZVýDUHýGLVSOD\HGýDIWHUýWKHý0RUHýLQGLFDWRUñýWKHý4XHXHýZLQGRZýGLVSOD\VýDOOýILHOGVýDQGýQRýDGGLWLRQDOýILHOGVýH[LVWýWRýWKHýULJKWýRUýOHIWýRIýWKHýILHOGVýGLVSOD\HGï

ý)LOHýý6HDUFKýý7RROVýý+HOSýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýðððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððýýýý34(GLWýðý,192,&(6ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý&PGVãý,ý,QVýýý5ý5HSýýý)ý)ZGýýý+ýý+H[(GLWý0VJýýý=ýý,63)ý(GLWý0VJýýýýýýýýýýýýýýýýýýýýýý'ý'HOýýý*ý*Rýýýýýýýýýýýý+Qý+H[(GLWý&ROýQý=Qý,63)ý(GLWý&ROýQýýýý0RUHãýýý!ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýìýýýýýýýýýýýýýýëýýýýýýýýýýýýýýýýýýýýýýýýýêýýýýýýýýýýýýýýýýýýýýý&PGý6WDWXVýýý,QYïý,'ýýýýýýýý&RPSDQ\ýýýýýýýýýýýýýýýýýýý&RQWDFWýýýýýýýýýýýýýýýýýýýýýýýííííìýýý75íëýýýý%LRSHGLFýýýýýýýýýýýýýý3DXOý6PLWKýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííëýýý75íêýýýý*+ý,QGXVWULHVýýýýýýýýý-LOOý)UHGHULFýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííêýýý75íçýýýý(OHFWURQý+\EULGý&Rýýýý$OLý0RQDVKýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííéýýý75íèýýýý*HRSODVWLFý*URXSýýýýýý(YDý6P\WKýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííèýýýíííìýýýý&RSSHUKDOWý0LQLQJýýýýý$OOHQý/HHýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííçýýý75íæýýýý1RUWKZHVWý)DUPLQJýýýýý:DOO\ý*OHDVRQýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííæýýý75íéýýýý1RUWKZHVWý)DUPLQJýýýýý1HOOý$OEHUWVýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóý

0RUHýLQGLFDWRUýVKRZVý\RXýFDQýSDJHýULJKWýWRýDGGLWLRQDOýPHVVDJHýILHOGVï

/LVWýRIýYDOLGýOLQHýFRPPDQGVï

0RUHý)LHOGV

ý)LOHýý6HDUFKýý7RROVýý+HOSýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððýýýý34(GLWýðý,192,&(6ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý&PGVãý,ý,QVýýý5ý5HSýýý)ý)ZGýýý+ýý+H[(GLWý0VJýýý=ýý,63)ý(GLWý0VJýýýýýýýýýýýýýýýýýýýýý'ý'HOýýý*ý*Rýýýýýýýýýýýý+Qý+H[(GLWý&ROýQý=Qý,63)ý(GLWý&ROýQýýýý0RUHãáýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýéýýýýýýýýýýýýýýýýýýýèýýýýýýýýýýýçýýýýýýýýæýýýýýýýýýýýýýý&PGý6WDWXVýýýýýýýýýý$GGUHVVýýýýýýýýýýýýýý&LW\ýýýýýýýý6WDWHýý=LSý&RGHýýýýýýýýýýýýýýýííííìýýý32ý%R[ýéèçýýýýýýýýýýý7HUUDý+DXHÈýýýýýýýý,1ýýýýéíéèèýýýýýýýýýýýýýýýýýýýýííííëýýýêéèý&RORUDGRý%OYGïýýý6DQWDý0RQLFDýýýýýýý&$ýýýýäíéíéýýýýýýýýýýýýýýýýýýýííííêýýýèåý3DUNZD\ý'ULYHýýýýý%RXOGHUýýýýýýýýýýýý&2ýýýýèèçäíýýýýýýýýýýýýýýýýýýýííííéýýýêééèý+LJKZD\ýèìýýýýýý5RFKHVWHUýýýýýýýýýý3$ýýýýìèííæýýýýýýýýýýýýýýýýýýýííííèýýýåäíý3HDFKWUHHý3NZ\ýýý1RUFURVVýýýýýýýýýýý*$ýýýýêííêìýýýýýýýýýýýýýýýýýýýííííçýýýèèèý/DNHVLGHý5RDGýýýý0LQQHDSROLVýýýýýýýý01ýýýýçææííýýýýýýýýýýýýýýýýýýýííííæýýýèèèý/DNHVLGHý5RDGýýýý0LQQHDSROLVýýýýýýýý01ýýýýçææííýýýýýýýýýýýýýýýýýýýýýýýýýýýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóó

0RUHýLQGLFDWRUýVKRZVý\RXýFDQýSDJHýOHIWýWRýDGGLWLRQDOýPHVVDJHýILHOGVï

0RUHý)LHOGV

&KDSWHUýæïý(GLWLQJý4XHXHV åê

,QVHUWýõ,ôý/LQHý&RPPDQG

,QVHUWýõ,ôý/LQHý&RPPDQG

7KHý,QVHUWýõ,ôýOLQHýFRPPDQGýLQVHUWVýQHZýPHVVDJHýOLQHVýLQýDýTXHXHïýý7KLVýFRPPDQGýDGGVýEODQNýOLQHVýWKDWý\RXýFDQýPRGLI\ýDQGýSXWýWRýWKHýTXHXHïýý7KHý,ýFRPPDQGýZRUNVýZLWKýWKHý*Rýõ*ôýOLQHýFRPPDQGýWKDWýSXWVýSHQGLQJýLQVHUWVýWRýWKHýTXHXHïýõ6HHýWKHýWRSLFñýû*Rýõ*ôý/LQHý&RPPDQGûýODWHUýLQýWKLVýFKDSWHUïô

n 8VLQJýWKHý,QVHUWý&RPPDQG

8VHýWKHý,QVHUWýõ,ôýFRPPDQGýWRýLQVHUWýRQHýRUýPRUHýQHZýPHVVDJHVýIROORZLQJýDQýH[LVWLQJýPHVVDJHïýý(QWHUý,ýFRPPDQGVýLQýWKHý5RZý&PGýõ5RZý&RPPDQGôýDUHDýSUHFHGLQJýWKHýOLQHýZKHUHý\RXýZDQWýWRýLQVHUWýDýQHZýPHVVDJHïýý<RXýFDQýHQWHUýWKHý,ýFRPPDQGýLQýXSSHUýRUýORZHUýFDVHï

:KHQý\RXýXVHýWKHý,QVHUWýOLQHýFRPPDQGñýWKHýLQVHUWHGýPHVVDJHVýKDYHýDQý,3'ýõ,QVHUWý3HQGLQJôýVWDWXVýXQWLOý\RXýHQWHUýWKHý*RýFRPPDQGýRQýWKHý,3'ýPHVVDJHýOLQHïý,3'ýPHVVDJHVýKDYHýQRWýEHHQýSXWýWRýWKHýTXHXHïýýý$ýEODQNýPHVVDJHýOLQHýLVýDGGHGýWRýWKHýTXHXHýZKHUHý\RXýFDQýHQWHUýTXHXHýGDWDïýý7\SLFDOO\ñý\RXýHGLWýLQVHUWHGýPHVVDJHVýEHIRUHýHQWHULQJýWKHý*RýFRPPDQGýWRýSXWýWKHPýRQýWKHýTXHXHïýý7KLVýFDSDELOLW\ýDOORZVý\RXýWRýXSGDWHýDOOýILHOGVýLQýDýPHVVDJHýEHIRUHýLWýLVýSXWýWRýWKHýTXHXHñýVRý\RXýFRQWUROýWKHýFRQVLVWHQF\ýRIýPHVVDJHýFRQWHQWï

)LOHýý6HDUFKýý7RROVýý+HOSýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýðððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððýýýý34(GLWýðý6$03/(ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý&PGVãý,ý,QVýýý5ý5HSýýý)ý)ZGýýý+ýý+H[(GLWý0VJýýý=ýý,63)ý(GLWý0VJýýýýýýýýýýýýýýýýýýýý'ý'HOýýý*ý*Rýýýýýýýýýýýý+Qý+H[(GLWý&ROýQý=Qý,63)ý(GLWý&ROýQýýýý0RUHãýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýìýýý&PGý6WDWXVýýý'HVFULSWLRQýýýýýýýýííííìýýý0HVVDJHý$ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííëýýý0HVVDJHý%ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýLýýýííííêýýý0HVVDJHý&ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííéýýý0HVVDJHý'ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííèýýý0HVVDJHý(ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííçýýý0HVVDJHý)ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííæýýý0HVVDJHý*ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóó

7\SHý,ýLQýWKHý5RZý&PGýFROXPQýWRýLQVHUWýDýQHZýOLQHï

,QVHUWýõ,ôý/LQHý&RPPDQG

åé &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

7KHý*RýFRPPDQGýDGGVýWKHýQHZýPHVVDJHýWRýWKHýTXHXHïý$IWHUý\RXýHQWHUý*ñýWKHýPHVVDJHýKDVýDQý,16ýVWDWXVïýý7KHý,16ýODEHOýLQGLFDWHVýWKDWýWKHýPHVVDJHýLQýWKHýZLQGRZýKDVýEHHQýSXWýWRýWKHýHQGýRIýWKHýTXHXHïýý7KHýGLVSOD\HGý4XHXHýSDQHOýLVýXSGDWHGýWKHýQH[WýWLPHý\RXýFRPPLWýRUýUHIUHVKýWKHýTXHXHïýý,Iý\RXýGRýQRWýHQWHUý*ñý\RXUýPHVVDJHVýDUHýQRWýLQVHUWHGýLQWRýWKHýTXHXHï

$IWHUý\RXý5HIUHVKýRUý&RPPLWýWKHýLQVHUWHGýPHVVDJHñýWKHýQHZýPHVVDJHýOLQHýLVýGLVSOD\HGýDWýWKHýHQGýRIýWKHýTXHXHï

,QVHUWLQJý0XOWLSOHý0HVVDJHV

%\ýHQWHULQJýDýQXPEHUýDIWHUýDQý,ýFRPPDQGñý\RXýFDQýLQVHUWýPXOWLSOHýPHVVDJHýOLQHVïýý

([DPSOHVãýý,ýðýLQVHUWVýRQHýQHZýPHVVDJH,èýðýLQVHUWVýèýQHZýPHVVDJHV

ý

,QGLFDWHVýLQVHUWýSHQGLQJï

ý)LOHýý6HDUFKýý7RROVýý+HOSýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýðððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððýýýýý34(GLWýðý6$03/(ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý&PGVãý,ý,QVýýý5ý5HSýýý)ý)ZGýýý+ýý+H[(GLWý0VJýýý=ýý,63)ý(GLWý0VJýýýýýýýýýýýýýýýýýýýýý'ý'HOýýý*ý*Rýýýýýýýýýýýý+Qý+H[(GLWý&ROýQý=Qý,63)ý(GLWý&ROýQýýýý0RUHãýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýìýýýýýýýýëýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý&PGý6WDWXVýýý'HVFULSWLRQý,WHPýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííìýýý0HVVDJHý$ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííëýýý0HVVDJHý%ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííêýýý0HVVDJHý&ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýð,3'ðýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííèýýý0HVVDJHý'ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííçýýý0HVVDJHý(ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý

ý)LOHýý6HDUFKýý7RROVýý+HOSýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððýýýý34(GLWýðý6$03/(ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý&PGVãý,ý,QVýýý5ý5HSýýý)ý)ZGýýý+ýý+H[(GLWý0VJýýý=ýý,63)ý(GLWý0VJýýýýýýýýýýýýýýýýýýýý'ý'HOýýý*ý*Rýýýýýýýýýýýý+Qý+H[(GLWý&ROýQý=Qý,63)ý(GLWý&ROýQýýýý0RUHãýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýìýý&PGý6WDWXVýýý'HVFULSWLRQýýýýýýýýííííìýýý0HVVDJHý$ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííëýýý0HVVDJHý%ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííêýýý0HVVDJHý&ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýð,16ðýýý1HZý,QVHUWýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííèýýý0HVVDJHý'ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííçýýý0HVVDJHý(ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííæýýý0HVVDJHý)ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííåýýý0HVVDJHý*ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý

,16ýLQýWKHý6WDWXVýFROXPQýPHDQVýWKHýPHVVDJHýZDVýSXWýWRýWKHýHQGýRIýWKHýTXHXHï

&KDSWHUýæïý(GLWLQJý4XHXHV åè

,QVHUWýõ,ôý/LQHý&RPPDQG

$IWHUý\RXýLQVHUWýRQHýRUýPRUHýPHVVDJHVý\RXýPXVWýXVHýWKHý*RýOLQHýFRPPDQGýWRýDGGýWKHýLQVHUWHGýPHVVDJHVýWRýWKHýTXHXHïýý:KHQý\RXýFRPPLWýRUýUHIUHVKýWKHýTXHXHñýWKHýLQVHUWHGýPHVVDJHVýDUHýGLVSOD\HGýDWýWKHýHQGýRIýWKHýTXHXHýZKHUHýWKH\ýKDYHýEHHQýSXWýE\ý046HULHVïý

5HSOLFDWHýõ5ôý/LQHý&RPPDQG

åç &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

5HSOLFDWHýõ5ôý/LQHý&RPPDQG

7KHý5HSOLFDWHýõ5ôýOLQHýFRPPDQGýLVýVLPLODUýWRýWKHý,QVHUWýFRPPDQGýH[FHSWýWKDWýLQVWHDGýRIýLQVHUWLQJýEODQNýPHVVDJHýOLQHVñý5HSOLFDWHýUHSHDWVýDQýH[LVWLQJýPHVVDJHýOLQHýRUýOLQHVïýý/LNHýWKHý,QVHUWýFRPPDQGñý5HSOLFDWHýUHTXLUHVýWKHý*Rýõ*ôýOLQHýFRPPDQGýWRýSXWýSHQGLQJýLQVHUWVýWRýWKHýTXHXHï

n 8VLQJýWKHý5HSOLFDWHý&RPPDQG

8VHýWKHý5HSOLFDWHýFRPPDQGýWRýUHSOLFDWHýRQHýRUýPRUHýPHVVDJHVïýý(QWHUýWKHý5ýFRPPDQGýLQýWKHý5RZý&PGýFROXPQýQH[WýWRýWKHýPHVVDJHý\RXýZDQWýWRýUHSOLFDWHïýý<RXýFDQýHQWHUýWKHý5ýFRPPDQGýLQýXSSHUýRUýORZHUýFDVHïý

([DPSOHãýýýýýýýýýýýýýýýUýðýUHSOLFDWHVýõUHSHDWVôýRQHýPHVVDJH

:KHQý\RXýHQWHUýWKHý5HSOLFDWHýOLQHýFRPPDQGýPHQXñýWKHýUHSOLFDWHGýPHVVDJHýRUýPHVVDJHVýKDYHýDQý,3'ýõ,QVHUWý3HQGLQJôýVWDWXVýXQWLOý\RXýHQWHUýWKHý*RýFRPPDQGýRQýWKHý,3'ýPHVVDJHýOLQHïý,3'ýPHVVDJHVýKDYHýQRWýEHHQýSXWýWRýWKHýTXHXHïýýý$ýGXSOLFDWHýPHVVDJHýOLQHýLVýDGGHGýWRýWKHýTXHXHýZKHUHý\RXýFDQýPRGLI\ýWKHýPHVVDJHýGDWDïýý7\SLFDOO\ñý\RXýHGLWýUHSOLFDWHGýPHVVDJHVýEHIRUHýHQWHULQJýWKHý*RýFRPPDQGýWRýSXWýWKHPýRQýWKHýTXHXHï

ý)LOHýý6HDUFKýý7RROVýý+HOSýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýðððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððýýý34(GLWýðý,192,&(6ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý&PGVãý,ý,QVýýý5ý5HSýýý)ý)ZGýýý+ýý+H[(GLWý0VJýýý=ýý,63)ý(GLWý0VJýýýýýýýýýýýýýýýýýý'ý'HOýýý*ý*Rýýýýýýýýýýýý+Qý+H[(GLWý&ROýQý=Qý,63)ý(GLWý&ROýQýýýý0RUHãýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýìýýýýýýýýýýýýýýëýýýýýýýýýýýýýýýýýýýýýýýýýêýýýýýýýýýýýýýýýýý&PGý6WDWXVýýý,QYïý,'ýýýýýýýý&RPSDQ\ýýýýýýýýýýýýýýýýýýý&RQWDFWýýýýýýýýýýýýýýýýýýýííííìýýý75íëýýýý%LRSHGLFýýýýýýýýýýýýýý3DXOý6PLWKýýýýýýýýýýýýýýýýýýýýýýýýýýýííííëýýý75íêýýýý*+ý,QGXVWULHVýýýýýýýýý-LOOý)UHGHULFýýýýýýýýýýýýýýýýýýýý5ýýýííííêýýý75íéýýýý1RUWKZHVWý)DUPLQJýýýýý1HOOý$OEHUWVýýýýýýýýýýýýýýýýýýýýýýýýýííííéýýý75íçýýýý(OHFWURQý+\EULGý&Rýýýý$OLý0RQDVKýýýýýýýýýýýýýýýýýýýýýýýýýýýííííèýýý75íèýýýý*HRSODVWLFý*URXSýýýýýý(YDý6P\WKýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííçýýýíííìýýýý&RSSHUKDOWý0LQLQJýýýýý$OOHQý/HHýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóó

0HVVDJHýWRýEHýUHSOLFDWHG

&KDSWHUýæïý(GLWLQJý4XHXHV åæ

5HSOLFDWHýõ5ôý/LQHý&RPPDQG

$IWHUý\RXýHQWHUý*ñýWKHýPHVVDJHýKDVýDQý,16ýVWDWXVïýý7KHý,16ýODEHOýLQGLFDWHVýWKDWýWKHýPHVVDJHýLQýWKHýZLQGRZýKDVýEHHQýSXWýWRýWKHýHQGýRIýWKHýTXHXHïýý7KHýGLVSOD\HGý4XHXHýSDQHOýLVýXSGDWHGýWKHýQH[WýWLPHý\RXýFRPPLWýRUýUHIUHVKýWKHýTXHXHïýý,Iý\RXýGRýQRWýHQWHUý*ñý\RXUýUHSOLFDWHGýPHVVDJHVýDUHýQRWýLQVHUWHGýLQWRýWKHýTXHXHï

5HSOLFDWLQJý0RUHý7KDQý2QHý0HVVDJHý/LQH

%\ýHQWHULQJýDýQXPEHUýDIWHUýDQý5ýFRPPDQGýRUýE\ýGHILQLQJýDýEORFNýWRýUHSOLFDWHñý\RXýFDQýUHSOLFDWHýPHVVDJHVýPXOWLSOHýWLPHVïýý

([DPSOHãýý5éýðýUHSOLFDWHVýWKHýPHVVDJHýéýWLPHV

7RýUHSOLFDWHýPXOWLSOHýOLQHVý\RXýFDQýDOVRýGHILQHýDýEORFNýWRýUHSOLFDWHýE\ýHQWHULQJý55ýLQýWKHý5RZý&PGýFROXPQýDWýWKHýEHJLQQLQJýDQGýHQGýRIýWKHýUDQJHýRIýPHVVDJHVý\RXýZDQWýWRýUHSOLFDWHï

<RXýPRGLI\ýWKHý,3'ýUHSOLFDWHGýPHVVDJHñýWKHQýHQWHUýWKHý*RýFRPPDQGï

ý)LOHýý6HDUFKýý7RROVýý+HOSýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððýýýý34(GLWýðý,192,&(6ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý&PGVãý,ý,QVýýý5ý5HSýýý)ý)ZGýýý+ýý+H[(GLWý0VJýýý=ýý,63)ý(GLWý0VJýýýýýýýýýýýýýýýýýý'ý'HOýýý*ý*Rýýýýýýýýýýýý+Qý+H[(GLWý&ROýQý=Qý,63)ý(GLWý&ROýQýýýý0RUHãýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýìýýýýýýýýýýýýýýëýýýýýýýýýýýýýýýýýýýýýýýýýêýýýýýýýýýýýýýýýýý&PGý6WDWXVýýý,QYïý,'ýýýýýýýý&RPSDQ\ýýýýýýýýýýýýýýýýýýý&RQWDFWýýýýýýýýýýýýýýýýýýýííííìýýý75íëýýýý%LRSHGLFýýýýýýýýýýýýýý3DXOý6PLWKýýýýýýýýýýýýýýýýýýýýýýýýýýýííííëýýý75íêýýýý*+ý,QGXVWULHVýýýýýýýýý-LOOý)UHGHULFýýýýýýýýýýýýýýýýýýýýýýýýííííêýýý75íéýýýý1RUWKZHVWý)DUPLQJýýýýý1HOOý$OEHUWVýýýýýýýýýýýýýýýýýýýýýýýýýð,3'ðýýý75íæýýýý1RUWKZHVWý)DUPLQJýýýýý:DOO\ý*OHDVRQýýýýýýýýýýýýýýýýýýýýýýýýííííèýýý75íçýýýý(OHFWURQý+\EULGý&Rýýýý$OLý0RQDVKýýýýýýýýýýýýýýýýýýýýýýýýýýýííííçýýý75íèýýýý*HRSODVWLFý*URXSýýýýýý(YDý6P\WKýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííæýýýíííìýýýý&RSSHUKDOWý0LQLQJýýýýý$OOHQý/HHýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý

*2ýõ*ôý/LQHý&RPPDQG

åå &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

*2ýõ*ôý/LQHý&RPPDQG

7KHý*Rýõ*ôýOLQHýFRPPDQGýSXWVýSHQGLQJýLQVHUWVýWRýDýTXHXHýDIWHUýWKHýPHVVDJHýOLQHVýKDYHýEHHQýLQVHUWHGýZLWKýWKHý,QVHUWýOLQHýFRPPDQGýRUýUHSOLFDWHGýZLWKýWKHý5HSOLFDWHýOLQHýFRPPDQGï

n 8VLQJýWKHý*Rý&RPPDQG

8VHýWKHý*RýFRPPDQGýWRýSXWýRQHýRUýPRUHý,3'ýõ,QVHUWý3HQGLQJôýPHVVDJHVýLQWRýDýTXHXHïýý(QWHUýWKHý*RýFRPPDQGýE\ýHQWHULQJýDý*ýLQýWKHý5RZý&PGýDUHDýQH[WýWRýWKHýLQVHUWHGýRUýUHSOLFDWHGýPHVVDJHïýý<RXýFDQýHQWHUýWKHý*ýFRPPDQGýLQýXSSHUýRUýORZHUýFDVHïý

(QWHULQJý*RýIRUý0RUHý7KDQý2QHý5RZ%\ýHQWHULQJýDýQXPEHUýDIWHUýDý*ýFRPPDQGýRUýE\ýPDUNLQJýDýEORFNýRIý,3'ýPHVVDJHVýWRýSXWñý\RXýFDQýLQVHUWýPXOWLSOHýPHVVDJHVïý

([DPSOHãýý

*éýðýLQVHUWVýéý,3'ýPHVVDJHV

$VýDQýDOWHUQDWLYHýIRUýSXWWLQJýPXOWLSOHý,3'ýPHVVDJHVñý\RXýFDQýGHILQHýDýEORFNýE\ýHQWHULQJý**ýLQýWKHý&PGýFROXPQýDWýWKHýEHJLQQLQJýDQGýHQGýRIýWKHýUDQJHýRIýPHVVDJHVý\RXýZDQWýWRýSXWï

$IWHUý\RXýXVHýWKHý,QVHUWýRUý5HSOLFDWHýOLQHýFRPPDQGñýWKHýLQVHUWHGýPHVVDJHVýKDYHýDQý,3'ýõ,QVHUWý3HQGLQJôýVWDWXVýXQWLOý\RXýHQWHUý*ýRQýWKHý,3'ýPHVVDJHýOLQHïýý7\SLFDOO\ñý\RXýHGLWýLQVHUWHGýRUýUHSOLFDWHGýPHVVDJHVýEHIRUHýHQWHULQJýWKHý*ýFRPPDQGýWRýSXWýWKHPýRQýWKHýTXHXHï

$IWHUý\RXýHQWHUý*ñýWKHýPHVVDJHýKDVýDQý,16ýVWDWXVïýý7KHý,16ýODEHOýLQGLFDWHVýWKDWýWKHýPHVVDJHýLQýWKHýZLQGRZýKDVýEHHQýSXWýWRýWKHýHQGýRIýWKHýTXHXHïýý7KHýGLVSOD\HGý4XHXHýSDQHOýLVýXSGDWHGýWKHýQH[WýWLPHý\RXýFRPPLWýRUýUHIUHVKýWKHýTXHXHï

&KDSWHUýæïý(GLWLQJý4XHXHV åä

'HOHWHýõ'ôý/LQHý&RPPDQG

'HOHWHýõ'ôý/LQHý&RPPDQG

7KHý'HOHWHýõ'ôýFRPPDQGýGHOHWHVýPHVVDJHVýIURPýDýTXHXHïýý8QOLNHýWKHý,QVHUWýõ,ôýFRPPDQGñýQRý*Rýõ*ôýFRPPDQGýLVýUHTXLUHGýWRýDFFRPSOLVKýWKHýGHOHWLRQïýý'HOHWHGýPHVVDJHVýDUHýGHOHWHGýIURPýWKHýTXHXHýLPPHGLDWHO\ýDQGýGRýQRWýUHTXLUHýDýUHIUHVKýRUýFRPPLWïýý

n 8VLQJýWKHý'HOHWHýõ'ôý&RPPDQG

8VHýWKHý'HOHWHýõ'ôýFRPPDQGýWRýGHOHWHýRQHýRUýPRUHýPHVVDJHVïýý(QWHUý'ýFRPPDQGVýLQýWKHý5RZý&PGýõ5RZý&RPPDQGôýFROXPQýQH[WýWRýWKHýPHVVDJHý\RXýZDQWýWRýGHOHWHïýý<RXýFDQýHQWHUýWKHý'HOHWHýFRPPDQGýLQýXSSHUýRUýORZHUýFDVHïý

([DPSOHãýýýýýýýýýýýýýýý'ýðýGHOHWHVýRQHýPHVVDJH

'HOHWLQJý0RUHý7KDQý2QHý0HVVDJH

%\ýHQWHULQJýDýQXPEHUýDIWHUýDý'ýFRPPDQGýRUýE\ýGHILQLQJýDýEORFNýWRýGHOHWHñý\RXýFDQýGHOHWHýPXOWLSOHýPHVVDJHVïýý)RUýH[DPSOHýWRýGHOHWHýWKHýQH[WýéýPHVVDJHVñý\RXýHQWHUý'éïý

([DPSOHãýý

'éýðýGHOHWHVýéýPHVVDJHV

ý)LOHýý6HDUFKýý7RROVýý+HOSýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððýýýý34(GLWýðý,192,&(6ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý&PGVãý,ý,QVýýý5ý5HSýýý)ý)ZGýýý+ýý+H[(GLWý0VJýýý=ýý,63)ý(GLWý0VJýýýýýýýýýýýýýýýýýý'ý'HOýýý*ý*Rýýýýýýýýýýýý+Qý+H[(GLWý&ROýQý=Qý,63)ý(GLWý&ROýQýýýý0RUHãýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýìýýýýýýýýýýýýýýëýýýýýýýýýýýýýýýýýýýýýýýýýêýýýýýýýýýýýýýýýýý&PGý6WDWXVýýý,QYïý,'ýýýýýýýý&RPSDQ\ýýýýýýýýýýýýýýýýýýý&RQWDFWýýýýýýýýýýýýýýýýýýýííííìýýý75íëýýýý%LRSHGLFýýýýýýýýýýýýýý3DXOý6PLWKýýýýýýýýýýýýýýýýýýýýýýýýýýýííííëýýý75íêýýýý*+ý,QGXVWULHVýýýýýýýýý-LOOý)UHGHULFýýýýýýýýýýýýýýýýýýýýýýýýííííêýýý75íéýýýý1RUWKZHVWý)DUPLQJýýýýý1HOOý$OEHUWVýýýýýýýýýýýýýýýýýýýýýýýýýííííéýýý75íçýýýý(OHFWURQý+\EULGý&Rýýýý$OLý0RQDVKýýýýýýýýýýýýýýýýýýýýýýýýýýýííííèýýý75íèýýýý*HRSODVWLFý*URXSýýýýýý(YDý6P\WKýýýýýýýýýýýýýýýýýýýýýýýýGýýýííííçýýýíííìýýýý&RSSHUKDOWý0LQLQJýýýýý$OOHQý/HHýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííæýýý75íæýýýý1RUWKZHVWý)DUPLQJýýýýý:DOO\ý*OHDVRQýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóó

'HOHWHýõ'ôý/LQHý&RPPDQG

äí &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

7RýGHOHWHýPXOWLSOHýOLQHVý\RXýFDQýDOVRýGHILQHýDýEORFNýWRýGHOHWHýE\ýHQWHULQJý''ýLQýWKHý&PGýFROXPQýDWýWKHýEHJLQQLQJýDQGýHQGýRIýWKHýUDQJHýRIýPHVVDJHVý\RXýZDQWýWRýGHOHWHï

5ROOLQJýEDFNýGHOHWHGýPHVVDJHV,Iý\RXýDUHýHGLWLQJýDýTXHXHýDQGýKDYHýFKRVHQý(GLWý8QGHUý6\QFSRLQWý&RQWUROñý\RXýFDQýXVHýWKHý5ROOEDFNýFRPPDQGýIURPýWKHý)LOHýPHQXýWRýXQGRýGHOHWLRQVýPDGHýIURPýDýTXHXHýVLQFHýWKHýODVWýV\QFSRLQWýõWLPHýWKHýTXHXHýZDVýFRPPLWWHGôï

ý)LOHýý6HDUFKýý7RROVýý+HOSýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýðððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððýýýý34(GLWýðý,192,&(6ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý&PGVãý,ý,QVýýý5ý5HSýýý)ý)ZGýýý+ýý+H[(GLWý0VJýýý=ýý,63)ý(GLWý0VJýýýýýýýýýýýýýýýýýýý'ý'HOýýý*ý*Rýýýýýýýýýýýý+Qý+H[(GLWý&ROýQý=Qý,63)ý(GLWý&ROýQýýýý0RUHãýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýìýýýýýýýýýýýýýýëýýýýýýýýýýýýýýýýýýýýýýýýýêýýýýýýýýýýýýýýýýýý&PGý6WDWXVýýý,QYïý,'ýýýýýýýý&RPSDQ\ýýýýýýýýýýýýýýýýýýý&RQWDFWýýýýýýýýýýýýýýýýýýýýííííìýýý75íëýýýý%LRSHGLFýýýýýýýýýýýýýý3DXOý6PLWKýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííëýýý75íêýýýý*+ý,QGXVWULHVýýýýýýýýý-LOOý)UHGHULFýýýýýýýýýýýýýýýýýýýýýGGýýííííêýýý75íéýýýý1RUWKZHVWý)DUPLQJýýýýý1HOOý$OEHUWVýýýýýýýýýýýýýýýýýýýýýýýýýýííííéýýý75íçýýýý(OHFWURQý+\EULGý&Rýýýý$OLý0RQDVKýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííèýýý75íèýýýý*HRSODVWLFý*URXSýýýýýý(YDý6P\WKýýýýýýýýýýýýýýýýýýýýýýýýýGGýýííííçýýýíííìýýýý&RSSHUKDOWý0LQLQJýýýýý$OOHQý/HHýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííæýýý75íæýýýý1RUWKZHVWý)DUPLQJýýýýý:DOO\ý*OHDVRQýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóó

%ORFNýRIýPHVVDJHVýWRýEHýGHOHWHGï

&KDSWHUýæïý(GLWLQJý4XHXHV äì

=RRPýõ=ôý/LQHý&RPPDQG

=RRPýõ=ôý/LQHý&RPPDQG

7KHý=RRPýõ=ôýOLQHýFRPPDQGýOHWVý\RXýEURZVHýRUýHGLWýILHOGVýRUýPHVVDJHVýLQýWKHý,63)ýHGLWRUïýý7KLVýHQDEOHVý\RXýWRýGLVSOD\ýRUýFKDQJHýILHOGVýRUýPHVVDJHVýWKDWýDUHýODUJHUýWKDQýWKHý4XHXHýZLQGRZöVýçéðFKDUDFWHUýFROXPQýGLVSOD\ýZLGWKïýý7KHý=ýFRPPDQGýOHWVý\RXýYLHZýRUýHGLWýILHOGVñýVXFKýDVý04675ýILHOGVýWKDWýUHTXLUHýDýZLGHUýGLVSOD\ýWRýDFFRPPRGDWHýORQJHUýFKDUDFWHUýVWULQJVïýý

:KHQý\RXý=RRPýWRýWKHý,63)ýHGLWRUñý\RXýHGLWýILHOGýRUýPHVVDJHýWH[WýGLUHFWO\ýXVLQJýVWDQGDUGý,63)ýFRPPDQGVïýý,QýDGGLWLRQýWRýEURZVLQJýDQGýHGLWLQJýWKHýPHVVDJHýWH[WýDVýFKDUDFWHUýGDWDñý\RXýFDQýXVHýWKHý+(;ý21ýFRPPDQGýWRýHQDEOHýEURZVLQJýRUýHGLWLQJýRIýILHOGVýLQýKH[DGHFLPDOýIRUPDWïýý

,QGLYLGXDOýILHOGVýLQýWKHý,63)ýHGLWLQJýZLQGRZýPD\ýFRQWDLQýPXOWLSOHýæëðFKDUDFWHUýUHFRUGVïýý3DUWLDOýPHVVDJHýILHOGVý\RXýHGLWýLQýWKHý,63)ýHGLWRUýDUHýILOOHGýZLWKýQXOOýFKDUDFWHUVï

n 8VLQJýWKHý=RRPýõ=ôý&RPPDQG

8VHýWKHý=RRPýõ=ôýFRPPDQGýWRýEURZVHýRUýHGLWýLQGLYLGXDOýILHOGVýRUýWKHýHQWLUHýPHVVDJHýLQýWKHý4XHXHýZLQGRZýXVLQJýWKHý,63)ýHGLWRUïý

(GLWLQJýDQýHQWLUHýPHVVDJH

7RýHQWHUýDýPHVVDJHýLQýWKHý,63)ýHGLWRUñý\RXýHQWHUý=ýFRPPDQGVýLQýWKHý5RZý&PGýõ5RZý&RPPDQGôýFROXPQýQH[WýWRýWKHýPHVVDJHýLQýWKHý34(GLWý4XHXHýZLQGRZïý

)RUPDWýý=ý

)LOHýý(GLWýý&RQILUPýý0HQXýý8WLOLWLHVýý&RPSLOHUVýý7HVWýý+HOSýýýýýýýýýýýýýýýýýðððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððð

(',7ýýýýýýý,192,&(6ëý7ï48(8(ýýýýýýýýýýýýýýýýýýýýýýýýýýóóóóóóýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóý7RSýRIý'DWDýóóóóóóóóóóóóóóóóóóóóóóóóóóóíííííìý&KDUDFWHUýGDWDýLQýIRXUWKýPHVVDJHýGDWDýVWULQJýýýýýýýýýýýýýýýýýýýýýýýýýóóóóóóýóóóóóóóóóóóóóóóóóóóóóóóóóóóóý%RWWRPýRIý'DWDýóóóóóóóóóóóóóóóóóóóóóóóóó

)LHOGýGDWDýLVý]RRPHGýWRý,63)ýHGLWRUï

=RRPýõ=ôý/LQHý&RPPDQG

äë &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

:KHQý\RXýHQWHUýWKHý=ýFRPPDQGý34(GLWýJRHVýGLUHFWO\ýWRýWKHý,63)ýHGLWRUïýý$OOý,63)ýHGLWLQJýIHDWXUHVýDUHýDYDLODEOHýIRUýHGLWLQJýWKHýPHVVDJHýILHOGñýLQFOXGLQJýWKHýKH[DGHFLPDOýHGLWLQJýIHDWXUHýLQý,63)ïý

(GLWLQJýDýPHVVDJHýILHOG

7RýHQWHUýDýPHVVDJHýILHOGýLQýWKHý,63)ýHGLWRUñý\RXýHQWHUý=ýFRPPDQGVýLQýWKHý5RZý&PGýõ5RZý&RPPDQGôýFROXPQýQH[WýWRýWKHýPHVVDJHýLQýWKHý34(GLWý4XHXHýZLQGRZýDQGýDOVRýVSHFLI\ýWKHýQXPEHUýRIýWKHýILHOGýõFROXPQôý\RXýZDQWýWRýHGLWïý

)RUPDWýý=ý FROXPQýQXPEHU

34(GLWýJRHVýGLUHFWO\ýWRýWKHý,63)ýHGLWRUýDQGýGLVSOD\VýRQO\ýWKHýPHVVDJHýILHOGý\RXýVHOHFWHGïýý$OOý,63)ýHGLWLQJýIHDWXUHVýDUHýDYDLODEOHýIRUýHGLWLQJýWKHýPHVVDJHýILHOGñýLQFOXGLQJýWKHýKH[DGHFLPDOýHGLWLQJýIHDWXUHýLQý,63)ïý

([DPSOHãýýýýýýýýýýýýýýý=êýðýGLVSOD\VýWKHýWKLUGýILHOGýRIýWKHýVHOHFWHGýPHVVDJHýLQýWKHý,63)ýHGLWRU

ý)LOHýý6HDUFKýý7RROVýý+HOSýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððýýýý34(GLWýðý,192,&(6ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý&PGVãý,ý,QVýýý5ý5HSýýý)ý)ZGýýý+ýý+H[(GLWý0VJýýý=ýý,63)ý(GLWý0VJýýýýýýýýýýýýýýýýýýýý'ý'HOýýý*ý*Rýýýýýýýýýýýý+Qý+H[(GLWý&ROýQý=Qý,63)ý(GLWý&ROýQýýýý0RUHãýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýìýýýýýýýýýýýýýýëýýýýýýýýýýýýýýýýýýýýýýýýýêýýýýýýýýýýýýýýýýýýý&PGý6WDWXVýýý,QYïý,'ýýýýýýýý&RPSDQ\ýýýýýýýýýýýýýýýýýýý&RQWDFWýýýýýýýýýýýýýýýýýýýýýííííìýýý75íëýýýý%LRSHGLFýýýýýýýýýýýýýý3DXOý6PLWKýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííëýýý75íêýýýý*+ý,QGXVWULHVýýýýýýýýý-LOOý)UHGHULFýýýýýýýýýýýýýýýýýýýýýý=ýýýííííêýýý75íéýýýý1RUWKZHVWý)DUPLQJýýýýý1HOOý$OEHUWVýýýýýýýýýýýýýýýýýýýýýýýýýýýííííéýýý75íçýýýý(OHFWURQý+\EULGý&Rýýýý$OLý0RQDVKýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííèýýý75íèýýýý*HRSODVWLFý*URXSýýýýýý(YDý6P\WKýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííçýýýíííìýýýý&RSSHUKDOWý0LQLQJýýýýý$OOHQý/HHýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííæýýý75íæýýýý1RUWKZHVWý)DUPLQJýýýýý:DOO\ý*OHDVRQýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóó

=ýFRPPDQGýVHOHFWVýPHVVDJHýIRUý,63)ýHGLWLQJï

ý)LOHýý(GLWýý&RQILUPýý0HQXýý8WLOLWLHVýý&RPSLOHUVýý7HVWýý+HOSýýýýýýýýýýýýýýýýýýýðððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððý(',7ýýýýýýý,192,&(6ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý&ROXPQVýííííìýíííæýóóóóóóýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóý7RSýRIý'DWDýóóóóóóóóóóóóóóóóóóóóóóóóóóóóýíííííìý75íé1RUWKZHVWý)DUPLQJýýýý1HOOý$OEHUWVýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýóóóóóóýóóóóóóóóóóóóóóóóóóóóóóóóóóóóý%RWWRPýRIý'DWDýóóóóóóóóóóóóóóóóóóóóóóóóóó

&KDSWHUýæïý(GLWLQJý4XHXHV äê

=RRPýõ=ôý/LQHý&RPPDQG

n %URZVLQJýPHVVDJHVýRUýPHVVDJHýILHOGVýLQýWKHý,63)ýHGLWRU

,Iý\RXýVHOHFWý2SHQý5HDGý2QO\ýZKHQý\RXýRSHQýDýTXHXHñýWKHý=ýOLQHýFRPPDQGýRQO\ýOHWVý\RXýEURZVHýPHVVDJHVýRUýPHVVDJHýILHOGVýLQýWKHý,63)ýHGLWRUïýý:KHQý\RXýGLVSOD\ýDýPHVVDJHýRUýILHOGýLQýEURZVHýPRGHñýWKHý,63)ýFRPPDQGVýDQGýUHVWULFWLRQVýDSSO\ýWRý\RXUýUHYLHZýRIýWKHýPHVVDJHýWH[Wïýý)RUýH[DPSOHñýLIý\RXýXVHýWKHý+(;ý21ýFRPPDQGýWRýGLVSOD\ýPHVVDJHýGDWDýLQýUHDGýRQO\ýPRGHñý\RXýFDQýYLHZýEXWýQRWýHGLWýWKHýILHOGVýWKDWýDUHýVKRZQýLQýERWKýFKDUDFWHUýDQGýKH[DGHFLPDOýIRUPDWVï

n ([LWLQJýWKHý,63)ýHGLWRU

7RýH[LWýWKHý,63)ýHGLWRUñýSUHVVý3)êïýý7KHý34(GLWý4XHXHýZLQGRZýLVýGLVSOD\HGýDQGýDQ\ýFKDQJHVý\RXýPDGHýLQýWKHý,63)ýHGLWRUýDUHýUHIOHFWHGýLQýWKHýPHVVDJHýILHOGVï

ý)LOHýý6HDUFKýý7RROVýý+HOSýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððýýýý34(GLWýðý,192,&(6ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý&PGVãý,ý,QVýýý5ý5HSýýý)ý)ZGýýý+ýý+H[(GLWý0VJýýý=ýý,63)ý(GLWý0VJýýýýýýýýýýýýýýýýýýýýýý'ý'HOýýý*ý*Rýýýýýýýýýýýý+Qý+H[(GLWý&ROýQý=Qý,63)ý(GLWý&ROýQýýýý0RUHãýýý!ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýìýýýýýýýýýýýýýýëýýýýýýýýýýýýýýýýýýýýýýýýýêýýýýýýýýýýýýýýýýýýýýý&PGý6WDWXVýýý,QYïý,'ýýýýýýýý&RPSDQ\ýýýýýýýýýýýýýýýýýýý&RQWDFWýýýýýýýýýýýýýýýýýýýýýýýííííìýýý75íëýýýý%LRSHGLFýýýýýýýýýýýýýý3DXOý6PLWKýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííëýýý75íêýýýý*+ý,QGXVWULHVýýýýýýýýý-LOOý)UHGHULFýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííêýýý75íçýýýý(OHFWURQý+\EULGý&Rýýýý$OLý0RQDVKýýýýýýýýýýýýýýýýýýýýýýýýýý]êýýýííííéýýý75íèýýýý*HRSODVWLFý*URXSýýýýýý(YDý6P\WKýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííèýýýíííìýýýý&RSSHUKDOWý0LQLQJýýýýý$OOHQý/HHýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííçýýý75íæýýýý1RUWKZHVWý)DUPLQJýýýýý:DOO\ý*OHDVRQýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííæýýý75íéýýýý1RUWKZHVWý)DUPLQJýýýýý1HOOý$OEHUWVýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóó

=êýVHOHFWVýWKLUGýFROXPQýIRUýHGLWLQJýLQý,63)ýHGLWRUï

ý%52:6(ýððý,192,&(6ýðððððððððððððððððððððððððððððððððý/LQHýííííííííý&ROýííìýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóý7RSýRIý'DWDýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýðððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððý(YDý6P\WKýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýé&$åé(ä$$åééééééééééééééééééééééééééééééééééééééééééééééééééééééééééééééýýýýíèèìíëéåêåííííííííííííííííííííííííííííííííííííííííííííííííííííííííííííííýýýýýðððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóý%RWWRPýRIý'DWDýóóóóóóóóóóóóóóóóóóóóóóóóóóóó

)LHOGýGDWDýLQýKH[DGHFLPDOýIRUPDWï

)LHOGýGDWDýLQýFKDUDFWHUýIRUPDWï

=RRPýõ=ôý/LQHý&RPPDQG

äé &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

&DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH äè

&KDSWHUýåï(GLWLQJý0HVVDJHVýLQý+H[DGHFLPDO

,QWURGXFWLRQ

7KLVýFKDSWHUýGHVFULEHVýKRZýWRýSHUIRUPýKH[DGHFLPDOýHGLWLQJýRIý046HULHVýTXHXHVýLQý34(GLWýXQGHUý,63)ñýRUýLQýDý*8,ýHQYLURQPHQWïý

&KDSWHUý&RQWHQWV

)LHOGýLQý+H[ýDQGý0HVVDJHýLQý+H[ý&RPPDQGVýõ*8,ôïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýäç)LHOGýLQý+H[ ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýäç0HVVDJHýLQý+H[ ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýäç(GLWý+H[DGHFLPDOý'LDORJý%R[ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýäç'LVSOD\LQJýFKDUDFWHUVýLQýWKHýPHVVDJHöVýFKDUDFWHUýVHWýõ&&6,'ôïýïýïýïýïýïýïýïýïýïýïýïýïýï ýäæ

+H[(GLWýõ+ôý/LQHý&RPPDQGýõ,63)ôïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýäå8VLQJýWKHý+H[(GLWý/LQHý&RPPDQG ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýäå(GLWý+H[DGHFLPDOý3DQHO ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýää

å

)LHOGýLQý+H[ýDQGý0HVVDJHýLQý+H[ý&RPPDQGVýõ*8,ô

äç &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

)LHOGýLQý+H[ýDQGý0HVVDJHýLQý+H[ý&RPPDQGVýõ*8,ô

,QýDý*8,ýHQYLURQPHQWñýWKHý)LHOGýLQý+H[ýDQGý0HVVDJHýLQý+H[ýFRPPDQGVýDUHýDFFHVVHGýIURPýWKHý(GLWýPHQXïýý7KHVHýFRPPDQGVýGLVSOD\ýWKHý(GLWý+H[ýGLDORJýER[ï

n )LHOGýLQý+H[

)LHOGýLQý+H[ýGLVSOD\VýWKHý(GLWý+H[DGHFLPDOýGLDORJýER[ýDQGýGLVSOD\VýDýVHOHFWHGýPHVVDJHýILHOGýLQýKH[DGHFLPDOýIRUPDWïýý

n 0HVVDJHýLQý+H[

0HVVDJHýLQý+H[ýGLVSOD\VýWKHý(GLWý+H[DGHFLPDOýGLDORJýER[ýDQGýGLVSOD\VýDOOýILHOGVýRIýDýVHOHFWHGýPHVVDJHýLQýKH[DGHFLPDOýIRUPDWïýý

n (GLWý+H[DGHFLPDOý'LDORJý%R[

7KHý(GLWý+H[DGHFLPDOýGLDORJýER[ýGLVSOD\VýWKHýFRQWHQWVýRIýDýILHOGýRUýPHVVDJHýDVýDýEXIIHUýRIýGDWDï

7KHýGLDORJýER[ýVKRZVýWKUHHýFROXPQVýRIýLQIRUPDWLRQã

2IIVHWýðý+H[DGHFLPDOýRIIVHWýLQWRýWKHýGDWDýEXIIHU

+H[DGHFLPDOýðý%\WHýUHSUHVHQWDWLRQýRIýDýILHOGýRUýPHVVDJHýGLVSOD\HGýLQýDýKH[DGHFLPDOýIRUPDWïýýõìçýE\WHVýSHUýOLQHô

&KDUDFWHUýðý&KDUDFWHUýUHSUHVHQWDWLRQýRIýWKHýILHOGýRUýPHVVDJHý\RXýDUHýHGLWLQJïýý$ýSHULRGýFKDUDFWHUýõïôýUHSUHVHQWVýXQSULQWDEOHýFKDUDFWHUVýLQýWKHý&KDUDFWHUýFROXPQï

&RQYHUWVýGDWDýLQý&KDUDFWHUýFROXPQýWRý&&6,'ýRIýPHVVDJH

+H[ýRIIVHWýLQWRýWKHýGDWDýEXIIHU

%\WHýUHSUHVHQWDWLRQýRIýILHOGýRUýPHVVDJHï

&KDUDFWHUýUHSUHVHQWDWLRQýRIýWKHýILHOGýRUýPHVVDJHï

&KDSWHUýåïý(GLWLQJý0HVVDJHVýLQý+H[DGHFLPDO äæ

)LHOGýLQý+H[ýDQGý0HVVDJHýLQý+H[ý&RPPDQGVýõ*8,ô

<RXýFDQýHQWHUýRUýFKDQJHýLQIRUPDWLRQýUHSUHVHQWHGýLQýHLWKHUýWKHý+H[DGHFLPDOýFROXPQýRUýWKHý&KDUDFWHUýFROXPQïýý&KDQJHVý\RXýPDNHýLQýWKHý+H[DGHFLPDOýFROXPQýDUHýUHIOHFWHGýLQýWKHý&KDUDFWHUýFROXPQñýDQGýYLFHýYHUVDïýý

:KHQý\RXýHQWHUýFKDQJHVýLQýWKHý(GLWý+H[DGHFLPDOýGLDORJýER[ñýWKH\ýDUHýDOVRýUHIOHFWHGýLQýWKHý4XHXHýZLQGRZïýý,QýDGGLWLRQñýLIý\RXýH[FHHGýWKHýQXPEHUýRIýFKDUDFWHUVýLQýWKHýFXUUHQWýPHVVDJHñýWKHýPHVVDJHýLQýWKHý4XHXHýZLQGRZýH[SDQGVýWRýDFFRPPRGDWHýWKHýDGGHGýFKDUDFWHUVïýý

n 'LVSOD\LQJýFKDUDFWHUVýLQýWKHýPHVVDJHöVýFKDUDFWHUýVHWýõ&&6,'ôý

,Iý\RXýFKRRVHý)LHOGýLQý+H[ýIURPýWKHý(GLWýPHQXýIRUýDýILHOGýWKDWý34(GLWýGHWHFWVýDVýDýFKDUDFWHUýILHOGñýWKHý&KDUDFWHUýFROXPQýRIýWKHý(GLWý+H[DGHFLPDOýGLDORJýER[ýDXWRPDWLFDOO\ýXVHVýWKHý&&6,'ýRIýWKHýPHVVDJHöVýFKDUDFWHUýVHWïýý,QýWKLVýFDVHñýWKHý'LVSOD\ýWKHýFKDUDFWHUýFROXPQýXVLQJýWKHýPHVVDJHöVýFKDUDFWHUýVHWýõ&&6,'ôýER[ýLVýVHOHFWHGýE\ýGHIDXOWï

&OLFNýRQý'LVSOD\ýWKHýFKDUDFWHUýFROXPQýXVLQJýWKHýPHVVDJHöVýFKDUDFWHUýVHWýõ&&6,'ôñýLQýWKHý(GLWý+H[DGHFLPDOýGLDORJýER[ýWRýFRQYHUWýGDWDýLQýWKHý&KDUDFWHUýFROXPQýIURPýWKHýFRGHGýFKDUDFWHUýVHWýRIýWKHýORFDOýPDFKLQHýWRýWKHýFKDUDFWHUýVHWýRIýWKHýPDFKLQHýZKHUHýWKHýPHVVDJHýRULJLQDWHGïýý7KHý&&6,'ýõFRGHGýFKDUDFWHUýVHWýLGHQWLILHUôýDSSOLHVýWRýDOOýFKDUDFWHUýILHOGVýVXFKýDVýWKHýQDPHVýRIýREMHFWVñýDQGýWKHýFUHDWLRQýGDWHýDQGýWLPHýRIýHDFKýTXHXHïýý)RUýH[DPSOHñýLIý\RXýDUHýUXQQLQJý34(GLWýLQýDý:LQGRZVý17ýPHVVDJHýHQYLURQPHQWýDQGý\RXýDUHýDFFHVVLQJýPHVVDJHVýIURPýDýPDLQIUDPHýWKDWýXVHVý(%&',&ýHQFRGLQJñýFKRRVLQJýWKLVýRSWLRQýGLVSOD\VýWKHýFKDUDFWHUýGDWDýLQýWKHý(%&',&ýFKDUDFWHUýVHWýRIýWKHýPDLQIUDPHïý

7KLVýGLVSOD\ýRSWLRQýLVýXVHIXOýLIýWKHýFRQYHUVLRQýRIýFKDUDFWHUýGDWDýWRýWKHýORFDOýFKDUDFWHUýVHWýPDNHVýWKHýFKDUDFWHUýFROXPQýXQUHDGDEOHïýý&RQYHUVLRQVýGRQHýLQýWKHýKH[ýHGLWRUýKDYHýQRýEHDULQJýRQýPHVVDJHýGDWDýWKHý4XHXHýZLQGRZýGLVSOD\VñýZKLFKýDXWRPDWLFDOO\ýFRQYHUWVýFKDUDFWHUýGDWDýZKHQHYHUýSRVVLEOHïýý

*8,

+H[(GLWýõ+ôý/LQHý&RPPDQGýõ,63)ô

äå &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

+H[(GLWýõ+ôý/LQHý&RPPDQGýõ,63)ô

7KHý+H[(GLWýõ+ôýOLQHýFRPPDQGýOHWVý\RXýGLVSOD\ýRUýHGLWýDýPHVVDJHýRUýPHVVDJHýILHOGýLQýKH[DGHFLPDOýIRUPDWýXVLQJýWKHý(GLWý+H[DGHFLPDOýSDQHOï

n 8VLQJýWKHý+H[(GLWý/LQHý&RPPDQG

7RýXVHýWKHý+H[(GLWýõ+ôýFRPPDQGñýHQWHUýWKHý+ýFRPPDQGýLQýWKHý5RZý&PGýõ5RZý&RPPDQGôýFROXPQýDGMDFHQWýWRýWKHýPHVVDJHý\RXýZDQWýWRýGLVSOD\ïýý7KHý(GLWý+H[DGHFLPDOýSDQHOýGLVSOD\VýDOOýILHOGVýRIýDýVHOHFWHGýPHVVDJHýLQýKH[DGHFLPDOýIRUPDWïýý<RXýPD\ýHGLWýWKHýPHVVDJHýLQýKH[DGHFLPDOýDQGýVDYHý\RXUýFKDQJHVï

'LVSOD\LQJýLQGLYLGXDOýILHOGVýLQýKH[DGHFLPDO

%\ýHQWHULQJýDýQXPEHUýDIWHUýDQý+ýFRPPDQGñý\RXýFDQýGLVSOD\ýDQýLQGLYLGXDOýILHOGýRIýDýPHVVDJHýLQýKH[DGHFLPDOïý<RXýFDQýHQWHUýWKHý+ýFRPPDQGýLQýXSSHUýRUýORZHUýFDVHïý

([DPSOHãýý

ýýýýýýýýýýýýý+ëýðýGLVSOD\VýWKHýVHFRQGýILHOGýRIýWKHýPHVVDJHýLQýKH[DGHFLPDOýIRUPDW

+ëýFRPPDQGýGLVSOD\VýVHFRQGýILHOGýLQý+H[DGHFLPDOï

)LOHýý6HDUFKýý7RROVýý+HOSýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððýýýýýýýýýýýýýýýýýýýýýýýý34(GLWýðý(GLWRUýIRUý046HULHVýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý5RZýýýýýýýýýýýýýýìýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýëýýýýýýýýýýýýýýýýýýýýýýýýý&PGýý6WDWXVýýý0VJ7\SHýýýýýýýýýýýýýýýýýýýýýýýý%URNHUýýýýýýýýýýýýýýýýýýýýýý

ýýýýýýííííìýý'DWDJUDPýýýý&KDQJHýý)ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííëýý'DWDJUDPýýýý0HVVDJHý'ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý+ëýýííííêýý'DWDJUDPýýýý6$/(6ý$*(17ýéêýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý&RPPDQGý !ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý6FUROOý !ý3$*

,63)

&KDSWHUýåïý(GLWLQJý0HVVDJHVýLQý+H[DGHFLPDO ää

+H[(GLWýõ+ôý/LQHý&RPPDQGýõ,63)ô

n (GLWý+H[DGHFLPDOý3DQHO

7KHý(GLWý+H[DGHFLPDOýGLDORJýER[ýGLVSOD\VýWKHýFRQWHQWVýRIýDýILHOGýRUýPHVVDJHýDVýDýEXIIHUýRIýGDWDï

7KHýGLDORJýER[ýVKRZVýWKUHHýFROXPQVýRIýLQIRUPDWLRQã

2IIVHWýðý+H[DGHFLPDOýRIIVHWýLQWRýWKHýGDWDýEXIIHU

+H[DGHFLPDOýðý%\WHýUHSUHVHQWDWLRQýRIýDýILHOGýRUýPHVVDJHýGLVSOD\HGýLQýDýKH[DGHFLPDOýIRUPDWïýýõìçýE\WHVýSHUýOLQHô

&KDUDFWHUýðý&KDUDFWHUýUHSUHVHQWDWLRQýRIýWKHýILHOGýRUýPHVVDJHý\RXýDUHýHGLWLQJïýý$ýSHULRGýFKDUDFWHUýõïôýUHSUHVHQWVýXQSULQWDEOHýFKDUDFWHUVýLQýWKHý&KDUDFWHUýFROXPQï

<RXýFDQýHQWHUýRUýFKDQJHýLQIRUPDWLRQýUHSUHVHQWHGýLQýHLWKHUýWKHý+H[DGHFLPDOýFROXPQýRUýWKHý&KDUDFWHUýFROXPQïýý&KDQJHVý\RXýPDNHýLQýWKHý+H[DGHFLPDOýFROXPQýDUHýUHIOHFWHGýLQýWKHý&KDUDFWHUýFROXPQñýDQGýYLFHýYHUVDïýý

:KHQý\RXýHQWHUýFKDQJHVýLQýWKHý(GLWý+H[DGHFLPDOýGLDORJýER[ñýWKH\ýDUHýDOVRýUHIOHFWHGýLQýWKHý4XHXHýZLQGRZïýý,QýDGGLWLRQñýLIý\RXýH[FHHGýWKHýQXPEHUýRIýFKDUDFWHUVýLQýWKHýFXUUHQWýPHVVDJHñýWKHýPHVVDJHýLQýWKHý4XHXHýZLQGRZýH[SDQGVýWRýDFFRPPRGDWHýWKHýDGGHGýFKDUDFWHUVïýý

+H[ýRIIVHWýLQWRýWKHýGDWDýEXIIHUï

)LOHýý6HDUFKýý7RROVýý+HOSýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýðýïðððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððýý_ýýýýýýýýýýýýýýýýýýýýýý34(GLWýðý(GLWý+H[DGHFLPDOýýýýýýýý5RZýìýWRýìýRIýìýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý2IIVHWýýýý+H[DGHFLPDOýýýýýýýýýýýýýýýýýýýýýýýý&KDUDFWHUýýýýýýýýýýýýýýýýýý_ýííííííííýý(ë&ì'ê&è(ëéí&ì&æ&è'è(êéí)é)êBBBBýýý6$/(6ý$*(17ýéêBBýýýýýýýýý

ýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý&RPPDQGý !ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý6FUROOý !ý3$*(ýýýýý_ýý)ì +HOSýýýý)ê ([LWýýý)ìë &DQFHOýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý�ððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððð

%\WHýUHSUHVHQðWDWLRQýRIýWKHýILHOGýRUýPHVVDJHï

&KDUDFWHUýUHSUHVHQWDWLRQýRIýWKHýILHOGýRUýPHVVDJHï

+H[(GLWýõ+ôý/LQHý&RPPDQGýõ,63)ô

ìíí &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

&DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH ìíì

&KDSWHUýäï)RUZDUGLQJý0HVVDJHV

,QWURGXFWLRQ7KLVýFKDSWHUýGHVFULEHVýKRZý\RXýIRUZDUGýPHVVDJHVýIURPýRQHý046HULHVýTXHXHýWRýDQRWKHUýTXHXHï

&KDSWHUý&RQWHQWV

8VLQJýWKHý)RUZDUGý&RPPDQGýõ*8,ôýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìíë)RUZDUGý0HVVDJHýGLDORJýER[ ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìíë

)RUZDUGýõ)ôý/LQHý&RPPDQGïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìíé)RUZDUGý0HVVDJHýSDQHOïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìíé

8VLQJýWKHý)RUZDUGý&RPPDQGýZLWKý'HDGðOHWWHUý4XHXHV ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìíç5HWU\ý'/4ýPHVVDJHVýWRýRULJLQDOýGHVWLQDWLRQïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìíç)RUZDUGLQJýPHVVDJHVýZLWKýDý'/4ýKHDGHUýWRýDQRWKHUýGHVWLQDWLRQïýïýïýïýïýïýïýïýïýïýï ýìíç8VLQJý)RUZDUGýZLWKýWKHý)LOWHUýFRPPDQG ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìíç6XPPDU\ýRIý)RUZDUGý0HVVDJHýDQGý5HWU\ý'/4ý0HVVDJHýRSWLRQVýïýïýïýïýïýïýïýïýïýï ýìíæ

ä

8VLQJýWKHý)RUZDUGý&RPPDQGýõ*8,ô

ìíë &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

8VLQJýWKHý)RUZDUGý&RPPDQGýõ*8,ô

7KHý)RUZDUGýFRPPDQGýGLVSOD\VýWKHý)RUZDUGý0HVVDJHýGLDORJýER[ïýý8VHýWKLVýGLDORJýER[ýWRýIRUZDUGýVHOHFWHGýPHVVDJHVýIURPýWKHýFXUUHQWýTXHXHýWRýDQRWKHUýTXHXHýRUýUHWU\ýPHVVDJHVýZLWKýDý'/4ýõGHDGðOHWWHUýTXHXHôýKHDGHUýWRýWKHLUýRULJLQDOýGHVWLQDWLRQïýý8QOLNHýWKHý&RS\ýDQGý3DVWHýFRPPDQGVñýWKHý)RUZDUGýFRPPDQGýOHWVý\RXýPRYHýPHVVDJHVýIURPýRQHýTXHXHýWRýDQRWKHUýTXHXHýZLWKRXWýPDQXDOO\ýRSHQLQJýWKHýGHVWLQDWLRQýTXHXHï

n )RUZDUGý0HVVDJHýGLDORJýER[

)URPýWKHý)RUZDUGý0HVVDJHýGLDORJýER[ñý\RXýFDQýHLWKHUã

n )RUZDUGýQRUPDOýRUý'/4ýPHVVDJHVýWRýDýVSHFLILFýTXHXHñýRU

n 5HWU\ýPHVVDJHVýZLWKýDý'/4ýKHDGHUýWRýWKHLUýRULJLQDOýGHVWLQDWLRQ

,Iý\RXýFKRRVHýWRýIRUZDUGýPHVVDJHVýWRýDQRWKHUýTXHXHñý\RXýPXVWýHQWHUýWKHýTXHXHýQDPHýDQGýTXHXHýPDQDJHUýZKHUHý\RXýZDQWýWKHýPHVVDJHVýSXWïýý

7RýIRUZDUGýRUýUHWU\ýPHVVDJHVñýVHOHFWýDýJURXSýRIýPHVVDJHVïý7KHQýFKRRVHý)RUZDUGýIURPýWKHý(GLWýPHQXïý(QWHUýRUýVHOHFWýLQIRUPDWLRQýLQýWKHýIROORZLQJýILHOGVýRQýWKHý)RUZDUGý0HVVDJHýGLDORJýER[ã

)RUZDUGýWRý6SHFLILFý4XHXHðý&OLFNýKHUHýWRýIRUZDUGýWKHýVHOHFWHGýPHVVDJHVýWRýDQRWKHUýTXHXHï

4XHXHý1DPHðý(QWHUýWKHýQDPHýRIýWKHýTXHXHýWRýIRUZDUGýWKHýPHVVDJHVýWRï

4XHXHý0DQDJHUýðý(QWHUýWKHýTXHXHýPDQDJHUýIRUýWKHýDERYHýTXHXHï

6WULSý'/4ý+HDGHUýLIýIRXQGýðý,IýWKHýTXHXHýFRQWDLQLQJýWKHýPHVVDJHVýLVýDýGHDGðOHWWHUýTXHXHñýWKHQýWKHýPHVVDJHVýFRQWDLQýDý'/4ýKHDGHUïý<RXýFDQýHLWKHUýVWULSýWKLVýKHDGHUýZKHQýIRUZDUGLQJýWKHýPHVVDJHVýWRýDQRWKHUýTXHXHñýRUýOHDYHýWKHý'/4ýKHDGHUïý&OLFNýKHUHýWRýVWULSýWKHý'/4ýKHDGHUï

*8,

&KDSWHUýäïý)RUZDUGLQJý0HVVDJHV ìíê

8VLQJýWKHý)RUZDUGý&RPPDQGýõ*8,ô

5HWU\ý'/4ý0HVVDJHVýWRýRULJLQDOýGHVWLQDWLRQýðý&OLFNýKHUHýWRýUHWU\ýWKHýVHOHFWHGýPHVVDJHVýWRýWKHLUýRULJLQDOýGHVWLQDWLRQïý7KLVýRSWLRQýLVýRQO\ýYDOLGýLIýWKHýPHVVDJHVýDUHýIURPýWKHýGHDGðOHWWHUýTXHXHýDQGýFRQWDLQýDý'/4ýKHDGHUïýý34(GLWýXVHVýWKHýTXHXHýDQGýTXHXHýPDQDJHUýIRXQGýLQýWKHý'/4ýKHDGHUýDQGýUHVXEPLWVýWKHýPHVVDJHVýWRýWKDWýTXHXHïý7KHý'/4ýKHDGHUýLVýDXWRPDWLFDOO\ýUHPRYHGýDQGýWKHýRULJLQDOýPHVVDJHýGHVFULSWRUýLVýUHEXLOWï

&OLFNý2.ýWRýDFFHSWý\RXUýHQWULHVýLQýWKHýGLDORJýER[ñýRUý&DQFHOýWRýFORVHýWKHýER[ýZLWKRXWýIRUZDUGLQJýRUýUHWU\LQJýWKHýPHVVDJHVïý

)RUýGHWDLOHGýLQIRUPDWLRQýRQýIRUZDUGLQJýRUýUHWU\LQJý'/4ýPHVVDJHVñýVHHýû8VLQJý)RUZDUGýZLWKý'HDGðOHWWHUý4XHXHVïû

)RUZDUGýõ)ôý/LQHý&RPPDQG

ìíé &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

)RUZDUGýõ)ôý/LQHý&RPPDQG

7KHý)RUZDUGýõ)ôýOLQHýFRPPDQGýGLVSOD\VýWKHý)RUZDUGý0HVVDJHýSDQHOïýý8VHýWKLVýSDQHOýWRýIRUZDUGýVHOHFWHGýPHVVDJHVýIURPýWKHýFXUUHQWýTXHXHýWRýDQRWKHUýTXHXHñýRUýUHWU\ýPHVVDJHVýZLWKýDý'/4ýõ'HDGð/HWWHUý4XHXHôýKHDGHUýWRýWKHLUýRULJLQDOýGHVWLQDWLRQïýý7KHý)RUZDUGýFRPPDQGýOHWVý\RXýPRYHýPHVVDJHVýIURPýRQHýTXHXHýWRýDQRWKHUýTXHXHýZLWKRXWýPDQXDOO\ýRSHQLQJýWKHýGHVWLQDWLRQýTXHXHïýý0HVVDJHVý\RXýIRUZDUGýDUHýUHPRYHGýIURPýWKHýFXUUHQWO\ýGLVSOD\HGýTXHXHýDQGýDUHýSODFHGýRQýWKHýGHVWLQDWLRQýTXHXHï

n )RUZDUGý0HVVDJHýSDQHO

(QWHUýWKHý)ýFRPPDQGýLQýWKHý5RZý&PGýFROXPQýQH[WýWRýWKHýPHVVDJHýRUýPHVVDJHVý\RXýZDQWýWRýIRUZDUGïý3UHVVý)êýWRýHQWHUýWKHýOLQHýFRPPDQGïýý<RXýFDQýHQWHUýWKHý)ýFRPPDQGýLQýXSSHUýRUýORZHUýFDVHïýýý$IWHUý\RXýHQWHUýDQý)ýFRPPDQGñýWKHý)RUZDUGý0HVVDJHýSDQHOýDSSHDUVýVRý\RXýFDQýLGHQWLI\ýWKHýTXHXHýQDPHýDQGýTXHXHýPDQDJHUýZKHUHý\RXýZDQWý\RXUýPHVVDJHVýIRUZDUGHGýDQGýHQWHUýDGGLWLRQDOýIRUZDUGLQJýRSWLRQVïý

)URPýWKHý)RUZDUGý0HVVDJHýGLDORJýER[ñý\RXýFDQýHLWKHUã

n )RUZDUGýQRUPDOýRUý'/4ýPHVVDJHVýWRýDýVSHFLILFýTXHXHñýRU

n 5HVXEPLWýPHVVDJHVýZLWKýDý'/4ýKHDGHUýEDFNýWRýWKHLUýRULJLQDOýGHVWLQDWLRQ

,Iý\RXýFKRRVHýWRýIRUZDUGýPHVVDJHVýWRýDQRWKHUýTXHXHñý\RXýPXVWýHQWHUýWKHýTXHXHýQDPHýDQGýTXHXHýPDQDJHUýZKHUHý\RXýZDQWýWKHýPHVVDJHVýSXWïýý

ïððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððð_ýýýýýýýýýýýýýýýýýýýýýýýýýý34(GLWýðý)RUZDUGý0HVVDJHýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý6HOHFWýRSWLRQýDQGýSUHVVý(QWHUïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýý)RUZDUGýWRý6SHFLILFý4XHXHýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýý4XHXHý1DPHýïýïýïý,192,&(6ëýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýý4XHXHý0DQDJHUýýýý404éýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýîýý6WULSý'/4ý+HDGHUýLIýIRXQGýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýý5HWU\ýWRýRULJLQDOýGHVWLQDWLRQýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý&RPPDQGý !ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýý)ì +HOSýýýýý)ê ([LWýýýý)ìë &DQFHOýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý�ððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððð

,63)

&KDSWHUýäïý)RUZDUGLQJý0HVVDJHV ìíè

)RUZDUGýõ)ôý/LQHý&RPPDQG

2QýWKHý)RUZDUGý0HVVDJHýSDQHOñýHQWHUýRUýVHOHFWýLQIRUPDWLRQýLQýWKHýIROORZLQJýILHOGVã

)RUZDUGýWRý6SHFLILFý4XHXHðý&OLFNýKHUHýWRýIRUZDUGýWKHýVHOHFWHGýPHVVDJHVýWRýDQRWKHUýTXHXHï

4XHXHý1DPHðý(QWHUýWKHýQDPHýRIýWKHýTXHXHýWRýIRUZDUGýWKHýPHVVDJHVýWRï

4XHXHý0DQDJHUýðý(QWHUýWKHýTXHXHýPDQDJHUýIRUýWKHýDERYHýTXHXHï

6WULSý'/4ý+HDGHUýLIýIRXQGýðý,IýWKHýTXHXHýFRQWDLQLQJýWKHýPHVVDJHVýLVýDýGHDGðOHWWHUýTXHXHñýWKHQýWKHýPHVVDJHVýFRQWDLQýDý'/4ýKHDGHUïý<RXýFDQýHLWKHUýVWULSýWKLVýKHDGHUýZKHQýIRUZDUGLQJýWKHýPHVVDJHVýWRýDQRWKHUýTXHXHñýRUýOHDYHýWKHý'/4ýKHDGHUïý&OLFNýKHUHýWRýVWULSýWKHý'/4ýKHDGHUï

5HWU\ýWRýRULJLQDOýGHVWLQDWLRQýðý&OLFNýKHUHýWRýUHWU\ýWKHýVHOHFWHGýPHVVDJHVýWRýWKHLUýRULJLQDOýGHVWLQDWLRQïý7KLVýRSWLRQýLVýRQO\ýYDOLGýLIýWKHýPHVVDJHVýDUHýIURPýWKHýGHDGðOHWWHUýTXHXHýDQGýFRQWDLQýDýTXHXHýKHDGHUïýý34(GLWýXVHVýWKHýTXHXHýDQGýTXHXHýPDQDJHUýIRXQGýLQýWKHý'/4ýKHDGHUýDQGýUHVXEPLWVýWKHýPHVVDJHVýWRýWKDWýTXHXHïý7KHý'/4ýKHDGHUýLVýDXWRPDWLFDOO\ýUHPRYHGýDQGýWKHýRULJLQDOýPHVVDJHýGHVFULSWRUýLVýUHEXLOWï

3UHVVý([LWýõ3)êôýWRýDFFHSWý\RXUýHQWULHVýLQýWKHýGLDORJýER[ñýRUý&DQFHOýõ3)ìëôýýWRýFORVHýWKHýER[ýZLWKRXWýIRUZDUGLQJýRUýUHVXEPLWWLQJýWKHýPHVVDJHVïý

)RUýGHWDLOHGýLQIRUPDWLRQýRQýIRUZDUGLQJýRUýUHWU\LQJý'/4ýPHVVDJHVñýVHHýWKHýQH[WýWRSLFýû8VLQJý)RUZDUGýZLWKý'HDGðOHWWHUý4XHXHVïû

)RUZDUGLQJýPRUHýWKDQýRQHýPHVVDJH

%\ýHQWHULQJýDýQXPEHUýDIWHUýDQý)ýFRPPDQGñý\RXýFDQýIRUZDUGýPXOWLSOHýPHVVDJHýOLQHVïýý

([DPSOHVãýý

ýýýýýýýýýýýýý)ýðýIRUZDUGVýRQHýQHZýPHVVDJH

ýýýýýýýýýýýýý)èýðýIRUZDUGVýèýQHZýPHVVDJHV

8VLQJýWKHý)RUZDUGý&RPPDQGýZLWKý'HDGðOHWWHUý4XHXHV

ìíç &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

8VLQJýWKHý)RUZDUGý&RPPDQGýZLWKý'HDGðOHWWHUý4XHXHV

7KHýGHDGðOHWWHUýTXHXHýõ'/4ôýLVýDýTXHXHýZKHUHýXQGHOLYHUDEOHýPHVVDJHVýDUHýVHQWïýý8VXDOO\ýWKH\ýDUHýXQGHOLYHUDEOHýEHFDXVHýRIýDGGUHVVLQJýSUREOHPVñýXVHUýGDWDýSUREOHPVñýRUýSUREOHPVýZLWKýWKHýUHFHLYLQJýTXHXHïýý

0HVVDJHVýRQýWKHý'/4ýDUHýSUHIL[HGýZLWKýDýGHDGðOHWWHUýKHDGHUýWKDWýLGHQWLILHVýWKHýPHVVDJHVýDVýXQGHOLYHUDEOHýDQGýLQFOXGHVýDýUHDVRQýFRGHïýý:KHQýDýPHVVDJHýLVýSXWýRQýWKHý'/4ñýWKHýRULJLQDOýPHVVDJHýGHVFULSWRUýILHOGVýRIýWKHýPHVVDJHýDUHýFRSLHGýLQWRýWKHýGDWDýSRUWLRQýRIýWKHýPHVVDJHïýý

$OOýPHVVDJHVýRQýWKHýGHDGðOHWWHUýTXHXHýFRQWDLQýDý'/4ýKHDGHUïýý:KHQýIRUZDUGLQJýWKHýPHVVDJHVñý\RXýFDQýFKRRVHýWRýVWULSýWKHý'/4ýKHDGHUýRUýOHDYHýWKHý'/4ýKHDGHUýLQýWKHýPHVVDJHïý

n 5HWU\ý'/4ýPHVVDJHVýWRýRULJLQDOýGHVWLQDWLRQý

,Iý\RXýVHOHFWýPHVVDJHVýIURPýWKHýGHDGðOHWWHUýTXHXHýDQGýWKHQýUHWU\ýWKHPñý34(GLWýDWWHPSWVýWRýSXWýWKHýPHVVDJHVýRQýWKHýRULJLQDOýGHVWLQDWLRQýTXHXHïýý7KHý'/4ýKHDGHUýLVýVWULSSHGýDQGýWKHýPHVVDJHýLVýUHEXLOWýDVýLWýZDVýEHIRUHýWKHý'/4ýKHDGHUýZDVýDGGHGïýý7KHýRULJLQDOýPHVVDJHýGHVFULSWRUýLVýUHVWRUHGýDQGýWKHýPHVVDJHýLVýWKHQýSXWýRQýWKHýRULJLQDOýGHVWLQDWLRQýTXHXHïý

n )RUZDUGLQJýPHVVDJHVýZLWKýDý'/4ýKHDGHUýWRýDQRWKHUýGHVWLQDWLRQ

,Iý\RXýKDYHý'/4ýPHVVDJHVýDQGý\RXýZDQWýWKHPýVHQWýWRý\RXUýSUREOHPýUHVROXWLRQýTXHXHýLQVWHDGýRIýUHWU\LQJýWKHPýWRýWKHýRULJLQDOýGHVWLQDWLRQñýVHOHFWý)RUZDUGýWRý6SHFLILFý4XHXHïýý<RXýFDQýVWULSýWKHý'/4ýKHDGHUýIURPýWKHýPHVVDJHVýEHIRUHýIRUZDUGLQJýWKHPýE\ýFOLFNLQJý6WULSý'/4ý+HDGHUýLIýIRXQGïýý7KLVýVHQGVýWKHýýPHVVDJHVýWRýWKHýSUREOHPýUHVROXWLRQýTXHXHýLQýWKHLUýRULJLQDOýIRUPDWï

,QýVRPHýFDVHVý\RXýPD\ýZDQWýWRýVHQGý'/4ýPHVVDJHVýWRýWKHýSUREOHPýUHVROXWLRQýTXHXHýDQGý\RXýQHHGýWRýUHWDLQñýLQýWKHýPHVVDJHñýZK\ýWKHýPHVVDJHýZDVýSODFHGýRQýWKHý'/4ýLQýWKHýILUVWýSODFHïýý,QýWKLVýFDVHý\RXýGRýQRWýVHOHFWý6WULSý'/4ý+HDGHUýLIýIRXQGñýEHFDXVHýWKHý'/4ýKHDGHUýFRQWDLQVýDýUHDVRQýFRGHýWKDWýFDQýEHýXVHIXOýLQýSUREOHPýUHVROXWLRQï

n 8VLQJý)RUZDUGýZLWKýWKHý)LOWHUýFRPPDQG

7KHý)RUZDUGýFRPPDQGýFRPELQHGýZLWKýPHVVDJHýILOWHULQJýRIIHUVýDQýHIIHFWLYHýZD\ýWRýGLVWULEXWHýPHVVDJHVýIURPýGHDGðOHWWHUýTXHXHVýLQWRýDSSOLFDWLRQðEDVHGýUHVROXWLRQýTXHXHVïýý)RUýH[DPSOHñýE\ýXVLQJýWKHý)LOWHUýFRPPDQGýWRýVHOHFWýPHVVDJHVýXVLQJýILHOGVýLQýWKHý'/4ýKHDGHUñý\RXýFDQýWKHQýKLJKOLJKWýDQGýIRUZDUGýPHVVDJHVýWRýWKHLUýDSSURSULDWHýUHVROXWLRQýTXHXHVýIRUýDQDO\VLVýDQGýFRUUHFWLRQïýý)RUýLQIRUPDWLRQýRQýWKHý)LOWHUýFRPPDQGýIURPýWKHý6HDUFKýPHQXñýVHHý&KDSWHUýììý¦)LOWHULQJý0HVVDJHVï§ý

&KDSWHUýäïý)RUZDUGLQJý0HVVDJHV ìíæ

8VLQJýWKHý)RUZDUGý&RPPDQGýZLWKý'HDGðOHWWHUý4XHXHV

n 6XPPDU\ýRIý)RUZDUGý0HVVDJHýDQGý5HWU\ý'/4ý0HVVDJHýRSWLRQV

8VHýWKHýIROORZLQJýWDEOHýWRýFKRRVHýRSWLRQVýIURPýWKHý)RUZDUGý0HVVDJHVýGLDORJýER[ýZKHQýIRUZDUGLQJýDQGýUHWU\LQJý'/4ýDQGýQRQð'/4ýPHVVDJHVã

)RUZDUGýDQGý5HWU\ý0HVVDJHý2SWLRQV

$UHýWKHýVHOHFWHGýPHVVDJHVýIURPýDýGHDGðOHWWHUýTXHXH"

,Iý<(6� ,Iý12�

'Rý\RXýZDQWýWRýUHWU\ýWKHýPHVVDJHVýWRýWKHLUýRULJLQDOýGHVWLQDWLRQ"

n 6HOHFWýRQO\ýWKHý5HWU\ý'/4ý0HVVDJHVýWRýRULJLQDOýGHVWLQDWLRQýUDGLRýEXWWRQï

'Rý\RXýZDQWýWRýIRUZDUGýPHVVDJHVýWRýDýSUREOHPýUHVROXWLRQýTXHXH"

n 6HOHFWý)RUZDUGýWRý6SHFLILFý4XHXHï

n (QWHUýWKHý4XHXHý1DPHýDQGý4XHXHý0DQDJHUýRIýWKHýSUREOHPýUHVROXWLRQýTXHXHïý

n 7RýUHWDLQýWKHý'/4ýKHDGHUñýGRýQRWýVHOHFWý6WULSý'/4ý+HDGHUýLIýIRXQGïýý

n 6HOHFWýWKHý)RUZDUGýWRý6SHFLILFýTXHXHýUDGLRýEXWWRQï

n (QWHUýWKHý4XHXHýQDPHýDQGý4XHXHý0DQDJHUýRIýGHVWLQDWLRQýTXHXHï

n 'RýQRWýVHOHFWý6WULSý'/4ý+HDGHUýLIýIRXQGï

8VLQJýWKHý)RUZDUGý&RPPDQGýZLWKý'HDGðOHWWHUý4XHXHV

ìíå &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

&DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH ìíä

&KDSWHUýìíï)LQGLQJýDQGý&KDQJLQJý0HVVDJHV

,QWURGXFWLRQ

7KLVýFKDSWHUýH[SODLQVýWKHýFRPPDQGVýRQýWKHý6HDUFKýPHQXïý8VHýWKHVHýFRPPDQGVýWRýILQGñýUHSODFHñýDQGýILOWHUýPHVVDJHVïý

&KDSWHUý&RQWHQWV

)LQGLQJý0HVVDJHý'DWDýõ*8,ô ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýììí,QWURGXFWLRQ ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýììí)LQGýFRPPDQGïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýììí)LQGý1H[W ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýììì

5HSODFLQJý0HVVDJHý'DWDýõ*8,ôýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýììë,QWURGXFWLRQ ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýììë5HSODFHýFRPPDQG ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýììë5HSODFHý1H[W ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýììê

)LQGLQJý0HVVDJHý'DWDýõ,63)ô ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýììé,QWURGXFWLRQ ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýììé)LQGýFRPPDQGïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýììé)LQGýSDQHO ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýììé

&KDQJLQJý0HVVDJHý'DWDýõ,63)ô ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýììç,QWURGXFWLRQ ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýììç&KDQJHýFRPPDQG ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýììç&KDQJHýSDQHO ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýììç

3ULPDU\ý&RPPDQGVýIRUý)LQGLQJýDQGý&KDQJLQJý0HVVDJHVýõ,63)ô ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýììä,QWURGXFWLRQ ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýììä3ULPDU\ýFRPPDQGVýDVýDQýDOWHUQDWLYHýWRýPHQXýVHOHFWLRQV ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýììä3ULPDU\ýFRPPDQGVýXVHGýWRýILQGñýFKDQJHýRUýILOWHUýPHVVDJHV ïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýììä

)LQGý3ULPDU\ý&RPPDQG ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìëí,QWURGXFWLRQ ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìëí8VLQJýWKHý)LQGýFRPPDQG ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìëí2SWLRQDOý)LQGýFRPPDQGýSDUDPHWHUV ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìëí5HSHDWý)LQGý1H[Wïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìëë

&KDQJHý3ULPDU\ý&RPPDQG ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìëê,QWURGXFWLRQ ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìëê8VLQJýWKHý&KDQJHýFRPPDQGýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìëê2SWLRQDOý&KDQJHýFRPPDQGýSDUDPHWHUV ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìëê5HSHDWý&KDQJHïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìëè

ìí

)LQGLQJý0HVVDJHý'DWDýõ*8,ô

ììí &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

)LQGLQJý0HVVDJHý'DWDýõ*8,ô

n ,QWURGXFWLRQ

7KLVýWRSLFýH[SODLQVýKRZý\RXýXVHýWKHý)LQGýFRPPDQGýIURPýWKHý6HDUFKýPHQXýLQýDý*8,ýHQYLURQPHQWýWRýILQGýVSHFLILFýPHVVDJHýWH[WýLQýDýTXHXHïýý)LQGýGLVSOD\VýWKHý)LQGýGLDORJýER[ýWKDWý\RXýXVHýWRýHQWHUýRSWLRQVýIRUý\RXUýVHDUFKïýý,QýDGGLWLRQñýDý)LQGý1H[WýFRPPDQGýLVýDYDLODEOHýVRý\RXýFDQýUHSHDWýWKHýVHDUFKï

n )LQGýFRPPDQG

7KHý)LQGýFRPPDQGýVHDUFKHVýPHVVDJHVýIRUýVSHFLILHGýWH[WýLQýWKHýFROXPQýFRQWDLQLQJýWKHýDFWLYHýILHOGïý7KHýVHDUFKýLVýPDGHýVWDUWLQJýDWýWKHýDFWLYHýILHOGïýý,Iý\RXýVWDUWýVHDUFKLQJýIURPýDýILHOGýSDUWýZD\ýWKURXJKýDýTXHXHñýDQGýQRýVHDUFKýWH[WýLVýIRXQGñý34(GLWýDVNVýLIý\RXýZDQWýWRýFRQWLQXHýIURPýWKHýWRSýõRUýERWWRPôýRIýWKHýTXHXHýWRýVHDUFKýWKHýUHPDLQGHUýRIýWKHýTXHXHïýý

1RWHãý34(GLWýVHDUFKHVýRQO\ýWKHýHQWULHVýLQýWKHýFROXPQýFRQWDLQLQJýWKHýDFWLYHýILHOGïýý34(GLWýGRHVýQRWýVHDUFKýDOOýFROXPQVýRIýWKHýPHVVDJHï

:KHQý\RXýFKRRVHý)LQGñý34(GLWýGLVSOD\VýWKHý)LQGýGLDORJýER[ý\RXýXVHýWRýHQWHUý\RXUýVHDUFKýWH[WýDQGýDQ\ýVHDUFKýRSWLRQVï

)LQGýGLDORJýER[

7KHý)LQGýGLDORJýER[ýLQFOXGHVýDQýDUHDýZKHUHý\RXýFDQýHQWHUýVHDUFKýWH[WýDVýZHOOýDVýRSWLRQVýDQGýEXWWRQVý\RXýXVHýWRýPDNHý\RXUýVHDUFKïýý

$FWLYHýILHOG

&ROXPQýVHDUFKHG

*8,

&KDSWHUýìíïý)LQGLQJýDQGý&KDQJLQJý0HVVDJHV ììì

)LQGLQJý0HVVDJHý'DWDýõ*8,ô

0DWFKý&DVHýOHWVý\RXýGLVWLQJXLVKýEHWZHHQýXSSHUFDVHýDQGýORZHUFDVHýFKDUDFWHUVýLQýDýPHVVDJHïýý,Iý\RXýGRýQRWýVHOHFWý0DWFKý&DVHñý34(GLWýVHDUFKHVýIRUýDQ\ýRFFXUUHQFHýRIýWKHýWH[WýHQWHUHGñýUHJDUGOHVVýRIýFDVHï

0DWFKý:KROHý&HOOVý2QO\ýHQDEOHVý\RXýWRýOLPLWý\RXUýVHDUFKýIRUýPHVVDJHýWH[WýWRýILHOGVýZKHUHýWKHýHQWLUHýILHOGýPDWFKHVýWKHýPHVVDJHýWH[Wïýý,IýWKHýWH[WýIRXQGýGRHVýQRWýPDNHýXSýWKHýFRQWHQWVýRIýWKHýZKROHýILHOGñýWKHýWH[WýLVýLJQRUHGï

<RXýPD\ýFKRRVHý8SýRUý'RZQýIRUý\RXUýVHDUFKýGLUHFWLRQïýý

n )LQGý1H[W

7KHý)LQGý1H[WýFRPPDQGýVHDUFKHVýIURPýWKHýDFWLYHýILHOGýLQýWKHý4XHXHýZLQGRZýIRUýWKHýQH[WýRFFXUUHQFHýRIýWKHýWH[WýHQWHUHGýIRUýWKHý)LQGýFRPPDQGïýý$VýDýFRQYHQLHQFHñý\RXýPD\ýXVHýWKHý&WUOð)ýNH\ERDUGýVKRUWFXWýIRUýWKHý)LQGý1H[WýFRPPDQGï

5HSODFLQJý0HVVDJHý'DWDýõ*8,ô

ììë &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

5HSODFLQJý0HVVDJHý'DWDýõ*8,ô

n ,QWURGXFWLRQ

7KLVýWRSLFýH[SODLQVýKRZý\RXýXVHýWKHý5HSODFHýFRPPDQGýIURPýWKHý6HDUFKýPHQXýLQýDý*8,ýHQYLURQPHQWýWRýILQGýDQGýUHSODFHýVSHFLILFýPHVVDJHýWH[WýLQýDýTXHXHïý5HSODFHýGLVSOD\VýWKHý5HSODFHýGLDORJýER[ýWKDWý\RXýXVHýWRýHQWHUýRSWLRQVýIRUý\RXUýVHDUFKïýý7KLVýGLDORJýER[ýLQFOXGHVýWKHýVHDUFKýIHDWXUHVýRIýWKHý)LQGýGLDORJýER[ýSOXVýDQýDUHDýZKHUHý\RXýHQWHUý\RXUýUHSODFHPHQWýWH[WýDQGýEXWWRQVýXVHGýWRýPDNHýWKHýUHSODFHPHQWï

n 5HSODFHýFRPPDQGý

5HSODFHýVHDUFKHVýIRUýDQGýUHSODFHVýVSHFLILHGýWH[WýLQýWKHýPHVVDJHVýLQýWKHýFROXPQýFRQWDLQLQJýWKHýDFWLYHýILHOGïý7KHýVHDUFKýVWDUWVýDWýWKHýDFWLYHýILHOGïý

1RWHãý34(GLWýVHDUFKHVýRQO\ýWKHýHQWULHVýLQýWKHýFROXPQýFRQWDLQLQJýWKHýDFWLYHýILHOGïýý34(GLWýGRHVýQRWýVHDUFKýDOOýFROXPQVýRIýWKHýPHVVDJHï

:KHQý\RXýFKRRVHý5HSODFHñý34(GLWýGLVSOD\VýWKHý5HSODFHýGLDORJýER[ý\RXýXVHýWRýHQWHUý\RXUýVHDUFKýWH[WýDQGýDQ\ýVHDUFKýRSWLRQVï

5HSODFHýGLDORJýER[

7KHý5HSODFHýGLDORJýER[ýLQFOXGHVýDQýDUHDýZKHUHý\RXýFDQýHQWHUýVHDUFKýWH[WýDVýZHOOýDVýDýSODFHýZKHUHý\RXýW\SHýWKHýWH[Wý\RXýZDQWýWRýXVHýDVýWKHýUHSODFHPHQWïýý7KHýRSWLRQVýDQGýEXWWRQVý\RXýXVHýWRýPDNHý\RXUýVHDUFKýDUHýWKHýVDPHýDVýWKRVHýXVHGýIRUýWKHý)LQGýFRPPDQGýGHVFULEHGýLQýWKHýSUHYLRXVýWRSLFïý7ZRýDGGLWLRQDOýEXWWRQVñý5HSODFHýDQGý5HSODFHý$OOýSHUIRUPýWKHýUHSODFHPHQWýDIWHUýWKHýWH[WýLVýIRXQGï

$FWLYHýILHOG

&ROXPQýVHDUFKHG

*8,

&KDSWHUýìíïý)LQGLQJýDQGý&KDQJLQJý0HVVDJHV ììê

5HSODFLQJý0HVVDJHý'DWDýõ*8,ô

7KHý5HSODFHýEXWWRQýUHSODFHVýWKHýKLJKOLJKWHGýWH[WýIRXQGýZLWKýWH[Wý\RXýHQWHUýLQWRýWKHý5HSODFHý:LWKýILHOGïýý7KHý5HSODFHý$OOýEXWWRQýUHSODFHVýDOOýRIýWKHýRFFXUUHQFHVýRIýWKHýWH[WýIRXQGýLQýWKHýDFWLYHýFROXPQýRIýWKHýTXHXHïýýý

,Iý\RXýUHSHWLWLYHO\ýHQWHUýWH[WýDWýWKHý)LQGý:KDWýDQGý5HSODFHý:LWKýILHOGVýLQýWKHý5HSODFHýGLDORJýER[ñý\RXýFDQýFRQWLQXHýWRýILQGýDQGýUHSODFHýWH[WýIURPýWKHý4XHXHýZLQGRZýXVLQJýWKHý)LQGý1H[WýDQGý5HSODFHýEXWWRQVýRUýWKHý&WUOð5ýõ5HSODFHý1H[WôýDQGýWKHý&WUOð)ýõ)LQGý1H[WôýNH\ERDUGýVKRUWFXWVïý

n 5HSODFHý1H[W

7KHý5HSODFHý1H[WýFRPPDQGýVHDUFKHVýIURPýWKHýDFWLYHýILHOGýLQýWKHý4XHXHýZLQGRZýDQGýUHSODFHVýWKHýQH[WýLQVWDQFHýRIýWKHýWH[WýVSHFLILHGýLQýWKHý5HSODFHýFRPPDQGïýý7RýXVHý5HSODFHý1H[Wñý\RXýPXVWýHQWHUýUHSODFHPHQWýWH[WýRQýWKHý5HSODFHýGLDORJýER[ýDQGýORFDWHýWKHýWH[Wý\RXýZDQWýWRýUHSODFHýXVLQJýWKHý)LQGý1H[WýEXWWRQï

*8,

)LQGLQJý0HVVDJHý'DWDýõ,63)ô

ììé &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

ý)LQGLQJý0HVVDJHý'DWDýõ,63)ô

n ,QWURGXFWLRQ

7KLVýWRSLFýH[SODLQVýKRZý\RXýXVHýWKHý)LQGýFRPPDQGýIURPýWKHý6HDUFKýPHQXýWRýILQGýVSHFLILFýPHVVDJHýWH[WýLQýDýTXHXHïýý)LQGýGLVSOD\VýWKHý)LQGýSDQHOýWKDWý\RXýFDQýXVHýWRýHQWHUýRSWLRQVýIRUý\RXUýVHDUFKïýý$VýDQýDOWHUQDWLYHýWRýXVLQJýWKHý)LQGýSDQHOñý\RXýFDQýXVHýWKHý)LQGýSULPDU\ýFRPPDQGïýýõ)RUýPRUHýLQIRUPDWLRQñýVHHýû)LQGý3ULPDU\ý&RPPDQGñûýODWHUýLQýWKLVýFKDSWHUïô

n )LQGýFRPPDQG

7KHý)LQGýFRPPDQGýVHDUFKHVýPHVVDJHVýIRUýWH[WýLQýDýVSHFLILHGýFROXPQïý7KHýVHDUFKýLVýPDGHýVWDUWLQJýIURPýWKHýDFWLYHýILHOGýWRýWKHýHQGýRIýWKHýTXHXHïýý

1RWHãý34(GLWýVHDUFKHVýRQO\ýWKHýHQWULHVýLQýWKHýFROXPQý\RXýVSHFLI\ïýý34(GLWýGRHVýQRWýVHDUFKýDOOýFROXPQVýRIýWKHýPHVVDJHï

:KHQý\RXýFKRRVHý)LQGñý34(GLWýGLVSOD\VýWKHý)LQGýSDQHOý\RXýXVHýWRýHQWHUý\RXUýVHDUFKýWH[WýDQGýDQ\ýVHDUFKýRSWLRQVï

n )LQGýSDQHO

7KHý)LQGýSDQHOýLQFOXGHVýDQýDUHDýZKHUHý\RXýFDQýHQWHUýVHDUFKýWH[WýDVýZHOOýDVýRSWLRQVý\RXýFDQýXVHýWRýVKDUSHQý\RXUýVHDUFKï

ýïðððððððððððððððððððððððððððððððððððððððððððððððððððïýý_ýýýýýýýýýýýýýýýýýýýýýýý)LQGýýýýýýýýýýýýýýýýýýýýýýýý_ýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýý_ý(QWHUýWKHýIROORZLQJýILHOGVýDQGýSUHVVý(QWHUïýýýýýýý_ýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýý_ý)LQGý:KDWýïýïýïýïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýý_ý&ROXPQýWRýVHDUFKýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýý_ý)LQGý2SWLRQãýýýýýýýýýýý0DWFKý&DVHãýýýýýýýýýýýýýýýý_ýý_ýìýýýìïýý1H[Wýýýýýýýýýýýëýýýìïýý<HVýýýýýýýýýýýýýýýý_ýý_ýýýýýëïýý3UHYýýýýýýýýýýýýýýýëïýý1Rýýýýýýýýýýýýýýýýý_ýý_ýýýýýêïýý)LUVWýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýý_ýýýýýéïýý/DVWýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýý_ý&RPPDQGý !ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýý�ððððððððððððððððððððððððððððððððððððððððððððððððððð�ý

,63)

&KDSWHUýìíïý)LQGLQJýDQGý&KDQJLQJý0HVVDJHV ììè

)LQGLQJý0HVVDJHý'DWDýõ,63)ô

)LQGýSDQHOýILHOGVý

7RýVHDUFKýIRUýPHVVDJHýWH[Wý\RXýPXVWýHQWHUýLQIRUPDWLRQýIRUýWKHýIROORZLQJýILHOGVýRQýWKHý)LQGýSDQHOã

)LQGý:KDWýLVýXVHGýWRýHQWHUýWKHýPHVVDJHýWH[Wý\RXýZDQWýWRýVHDUFKýIRUïýý<RXýFDQýVHDUFKýIRUýPHVVDJHýWH[WýFRQWDLQLQJýVSDFHVýRUýVSHFLDOýFKDUDFWHUVïýý

&ROXPQýWRýVHDUFKýVSHFLILHVýWKHýFROXPQýRIýWKHý4XHXHýZLQGRZýLQýZKLFKý\RXýDUHýVHDFKLQJýIRUýVSHFLILHGýWH[Wïý

1RWHãýý8QOLNHýWKHý)LQGýSULPDU\ýFRPPDQGñýQRýWH[WýGHOLPLWHUVýõDSRVWURSKHVôýDUHýXVHGýZKHQýVHDUFKLQJýIRUýWH[WýZLWKýVSDFHVýRUýVSHFLDOýFKDUDFWHUVýXVLQJýWKHý)LQGýSDQHOï

)LQGý2SWLRQýILHOGVýOHWý\RXýVSHFLI\ýWKHýVHDUFKýGLUHFWLRQýDQGýVWDUWLQJýSRLQWýDQGýWRýLQGLFDWHýZKHWKHUý\RXýZDQWýWRýVHDUFKýIRUýPHVVDJHýWH[WýWKDWýPDWFKHVýWKHýFDVHýRIý\RXUýVHDUFKýWH[Wï

6HOHFWýDýSDUDPHWHUýLIý\RXýZDQWýWRýLQGLFDWHýWKHýGLUHFWLRQýDQGýVWDUWLQJýSRLQWýIRUý\RXUýVHDUFKïýý7KHýSDUDPHWHUVý\RXýFDQýHQWHUýLQFOXGHýWKHýIROORZLQJã

1H[WýVHDUFKHVýIRUýWKHýQH[WýRFFXUUHQFHýRIýWKHýVSHFLILHGýPHVVDJHýWH[WýVWDUWLQJýZLWKýWKHýFXUVRUýORFDWLRQýLQýWKHý4XHXHýSDQHOïýý1H[WýLVýWKHýGHIDXOWý)LQGý2SWLRQï

3UHYýVHDUFKHVýIRUýWKHýSUHYLRXVýRFFXUUHQFHýRIýWKHýVSHFLILHGýPHVVDJHýWH[WýVWDUWLQJýZLWKýWKHýFXUVRUýORFDWLRQýLQýWKHý4XHXHýSDQHOï

)LUVWýVHDUFKHVýIRUýWKHýILUVWýRFFXUUHQFHýRIýWKHýVSHFLILHGýPHVVDJHýWH[WýVWDUWLQJýDWýWKHýEHJLQQLQJýRIýWKHýILUVWýPHVVDJHýGDWDýDQGýFRQWLQXLQJýXQWLOýWKHýWH[WýLVýIRXQGñýRUýXQWLOýWKHýERWWRPýRIýGDWDýLVýUHDFKHGïýýýýýýýý

/DVWýVHDUFKHVýIRUýWKHýODVWýRFFXUUHQFHýRIýWKHýVSHFLILHGýPHVVDJHýWH[WýVWDUWLQJýDWýWKHýHQGýRIýWKHýODVWýOLQHýRIýPHVVDJHýGDWDýDQGýFRQWLQXLQJýEDFNZDUGýXQWLOýWKHýWH[WýLVýIRXQGñýRUýXQWLOýWKHýWRSýRIýWKHýTXHXHýLVýUHDFKHGïýýýýý

0DWFKý&DVHýGLVWLQJXLVKHVýEHWZHHQýXSSHUFDVHýDQGýORZHUFDVHýFKDUDFWHUVýLQýDýPHVVDJHïýý6HOHFWý<HVýLIý\RXýZDQWýWRýVHDUFKýIRUýPHVVDJHVýWKDWýPDWFKýWKHýFDVHýRIýWKHýILQGýWH[WñýRUý1RýLIý\RXýGRýQRWýQHHGýWRýPDWFKýWKHýFDVHýRIýWKHýILQGýWH[Wïýý1RýLVýWKHýGHIDXOWý)LQGýGLDORJýER[ý0DWFKý&DVHýVHOHFWLRQï

7KHý)LQGýFRPPDQGýVHDUFKHVýIRUýWH[WýZKHWKHUýRUýQRWýLWýPDNHVýXSýWKHýHQWLUHýFROXPQï

5HSHDWLQJýRUý&RQWLQXLQJý6HDUFKHV

$IWHUý\RXýHQWHUýDý)LQGýRUý&KDQJHýFRPPDQGý\RXýFDQýXVHý3)èýõ5ILQGôýWRýUHSHDWýWKHý)LQGýFRPPDQGýVHDUFKýIRUýWKHýQH[WñýSUHYLRXVñýILUVWñýRUýODVWýRFFXUUHQFHýRIýWKHýPHVVDJHýWH[WýGHSHQGLQJýRQýWKHýRSWLRQDOýSDUDPHWHUý\RXýHQWHUHGïýý,IýWKHýVHDUFKýWH[WýLVýQRWýIRXQGýDý%RWWRPýRIýGDWDýUHDFKHGýõRUý7RSýRIýGDWDýUHDFKHGôýPHVVDJHýLVýGLVSOD\HGïý

,Iý\RXýVWDUWýVHDUFKLQJýIURPýDýILHOGýSDUWýZD\ýWKURXJKýDýTXHXHýDQGýQRýVHDUFKýWH[WýLVýIRXQGñý34(GLWýDVNVýLIý\RXýZDQWýWRýFRQWLQXHýIURPýWKHýWRSýõRUýERWWRPôýRIýWKHýTXHXHýWRýVHDUFKýWKHýUHPDLQGHUýRIýWKHýTXHXHïýý

&KDQJLQJý0HVVDJHý'DWDýõ,63)ô

ììç &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

,63)

&KDQJLQJý0HVVDJHý'DWDýõ,63)ô

n ,QWURGXFWLRQ

7KHý&KDQJHýFRPPDQGýIURPýWKHý6HDUFKýPHQXýOHWVý\RXýILQGýVSHFLILFýPHVVDJHýWH[WýLQýDýTXHXHýDQGýWKHQýVSHFLI\ýQHZýWH[Wïý&KDQJHýGLVSOD\VýWKHý&KDQJHýSDQHOýZKLFKýFORVHO\ýUHVHPEOHVýWKHý)LQGýSDQHOïýý/LNHýWKHý)LQGýSDQHOñý\RXýFDQýHQWHUýRSWLRQVýIRUý\RXUýVHDUFKïýý$VýDQýDOWHUQDWLYHýWRýXVLQJýWKHý)LQGýSDQHOñý\RXýFDQýXVHýWKHý&KDQJHýSULPDU\ýFRPPDQGïýýõ)RUýPRUHýLQIRUPDWLRQñýVHHýû&KDQJHý3ULPDU\ý&RPPDQGñûýODWHUýLQýWKLVýFKDSWHUïô

n &KDQJHýFRPPDQG

7KHý&KDQJHýFRPPDQGýOHWVý\RXýVHDUFKýTXHXHýPHVVDJHVýIRUýWH[WýLQýDýVSHFLILHGýFROXPQýDQGýFKDQJHýWKLVýWH[Wïý,Iý\RXýVWDUWýVHDUFKLQJýIURPýDýILHOGýSDUWýZD\ýWKURXJKýDýTXHXHñýDQGýQRýVHDUFKýWH[WýLVýIRXQGñý34(GLWýDVNVýLIý\RXýZDQWýWRýFRQWLQXHýIURPýWKHýWRSýõRUýERWWRPôýRIýWKHýTXHXHýWRýVHDUFKýWKHýUHPDLQGHUýRIýWKHýTXHXHïýý

1RWHã 34(GLWýFKDQJHVýRQO\ýWKHýHQWULHVýLQýWKHýFROXPQý\RXýVSHFLI\ïýý34(GLWýGRHVýQRWýFKDQJHýDOOýFROXPQVýRIýPHVVDJHVýLQýWKHýTXHXHï

:KHQý\RXýFKRRVHý&KDQJHñý34(GLWýGLVSOD\VýWKHý&KDQJHýSDQHOý\RXýXVHýWRýHQWHUý\RXUýVHDUFKýWH[WñýVHDUFKýFROXPQñýFKDQJHýWH[WñýDQGýDQ\ýVHDUFKýRSWLRQVï

n &KDQJHýSDQHO

7KHý&KDQJHýSDQHOýLQFOXGHVýDQýDUHDýZKHUHý\RXýFDQýHQWHUýUHTXLUHGýVHDUFKýDQGýFKDQJHýWH[WýDVýZHOOýDVýRSWLRQVý\RXýFDQýXVHýWRýVKDUSHQý\RXUýVHDUFKïý

ýïðððððððððððððððððððððððððððððððððððððððððððððððððððïý_ýýýýýýýýýýýýýýýýýýýýýý&KDQJHýýýýýýýýýýýýýýýýýýýýýýý_ý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý_ý(QWHUýWKHýIROORZLQJýILHOGVýDQGýSUHVVý(QWHUïýýýýýýý_ý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý_ý)LQGý:KDWýïýïýïýïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý_ý&KDQJHýWRýïýïýïýïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý_ý&ROXPQýWRýVHDUFKýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý_ý&KDQJHý2SWLRQãýýýýýýýýý0DWFKý&DVHãýýýýýýýýýýýýýýýý_ý_ýìýýýìïýý1H[Wýýýýýýýýýýýëýýýìïýý<HVýýýýýýýýýýýýýýýý_ý_ýýýýýëïýý3UHYýýýýýýýýýýýýýýýëïýý1Rýýýýýýýýýýýýýýýýý_ý_ýýýýýêïýý)LUVWýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý_ýýýýýéïýý/DVWýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý_ýýýýýèïýý$OOýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý_ý&RPPDQGý !ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý�ððððððððððððððððððððððððððððððððððððððððððððððððððð�

&KDSWHUýìíïý)LQGLQJýDQGý&KDQJLQJý0HVVDJHV ììæ

&KDQJLQJý0HVVDJHý'DWDýõ,63)ô

&KDQJHýSDQHOýILHOGVý

7RýVHDUFKýDQGýFKDQJHýPHVVDJHýWH[Wý\RXýPXVWýHQWHUýLQIRUPDWLRQýIRUýWKHýIROORZLQJýILHOGVã

)LQGý:KDWýLVýXVHGýWRýHQWHUýWKHýPHVVDJHýWH[Wý\RXýZDQWýWRýVHDUFKýIRUïýý<RXýFDQýVHDUFKýIRUýPHVVDJHýWH[WýFRQWDLQLQJýVSDFHVýRUýVSHFLDOýFKDUDFWHUVïýý

&KDQJHýWRýOHWVý\RXýHQWHUýWKHýWH[WýWRýFKDQJHýWKHýPHVVDJHýWH[Wý\RXýILQGïýý<RXUýFKDQJHýWH[WýFDQýFRQWDLQýVSDFHVýRUýVSHFLDOýFKDUDFWHUVïýý

&ROXPQýWRýVHDUFKýVSHFLILHVýWKHýFROXPQýRIýWKHýTXHXHýZLQGRZýLQýZKLFKý\RXýDUHýVHDUFKLQJýIRUýVSHFLILHGýWH[Wïý

1RWHãýý 8QOLNHýWKHý&KDQJHýSULPDU\ýFRPPDQGñýQRýWH[WýGHOLPLWHUVýõDSRVWURSKHVôýDUHýXVHGýZKHQýVHDUFKLQJýIRUýWH[WýZLWKýVSDFHVýRUýVSHFLDOýFKDUDFWHUVýXVLQJýWKHý&KDQJHýSDQHOï

7KHý&KDQJHýFRPPDQGýVHDUFKHVýIRUýWH[WýZKHWKHUýRUýQRWýLWýPDNHVýXSýWKHýHQWLUHýFROXPQïý

&KDQJHý2SWLRQýSURYLGHVýRSWLRQýILHOGVý\RXýFDQýXVHýWRýVSHFLI\ýWKHýVHDUFKýGLUHFWLRQýDQGýVWDUWLQJýSRLQWñýDQGýWRýLQGLFDWHýZKHWKHUý\RXýZDQWýWRýVHDUFKýIRUýDQGýFKDQJHýDOOýRFFXUUHQFHVýRIýPHVVDJHýWH[WýLQýDýTXHXHïýý<RXýPD\ýDOVRýVHDUFKýDQGýFKDQJHýRQO\ýPHVVDJHýWH[WýWKDWýPDWFKHVýWKHýFDVHýRIý\RXUýVHDUFKýWH[Wïýý7KHý&KDQJHý2SWLRQýSDUDPHWHUVýLQFOXGHýWKHýIROORZLQJ

1H[WýVHDUFKHVýIRUýWKHýQH[WýRFFXUUHQFHýRIýWKHýVSHFLILHGýPHVVDJHýWH[WýVWDUWLQJýZLWKýWKHýILUVWýGLVSOD\HGýOLQHýLQýWKHý4XHXHýSDQHOïýý1H[WýLVýWKHýGHIDXOWý&KDQJHý2SWLRQï

3UHYýVHDUFKHVýIRUýWKHýSUHYLRXVýRFFXUUHQFHýRIýWKHýVSHFLILHGýPHVVDJHýWH[WýVWDUWLQJýDQGýLQFOXGLQJýWKHýILUVWýGLVSOD\HGýOLQHýLQýWKHý4XHXHýSDQHOï

)LUVWýVHDUFKHVýIRUýWKHýILUVWýRFFXUUHQFHýRIýWKHýVSHFLILHGýPHVVDJHýWH[WýVWDUWLQJýDWýWKHýEHJLQQLQJýRIýWKHýILUVWýPHVVDJHýDQGýFRQWLQXLQJýXQWLOýWKHýWH[WýLVýIRXQGñýRUýXQWLOýWKHýERWWRPýRIýGDWDýLVýUHDFKHGïýýýýýýýý

/DVWýVHDUFKHVýIRUýWKHýODVWýRFFXUUHQFHýRIýWKHýVSHFLILHGýPHVVDJHýWH[WýVWDUWLQJýDWýWKHýHQGýRIýWKHýODVWýPHVVDJHýDQGýFRQWLQXLQJýEDFNZDUGýXQWLOýWKHýWH[WýLVýIRXQGñýRUýXQWLOýWKHýWRSýRIýWKHýTXHXHýLVýUHDFKHGïýýýýý

$OOýVHDUFKHVýIRUýDOOýRFFXUUHQFHVýRIýWKHýPHVVDJHýWH[WýDQGýFKDQJHVýDOOýRFFXUUHQFHVýWRýWKHýVSHFLILHGýWH[Wïýýýýýýýýýý

0DWFKý&DVHýGLVWLQJXLVKHVýEHWZHHQýXSSHUFDVHýDQGýORZHUFDVHýFKDUDFWHUVýLQýDýPHVVDJHïýý6HOHFWý<HVýLIý\RXýZDQWýWRýVHDUFKýIRUýPHVVDJHVýWKDWýPDWFKýWKHýFDVHýRIýWKHýILQGýWH[WñýRUý1RýLIý\RXýGRýQRWýQHHGýWRýPDWFKýWKHýFDVHýRIýWKHýILQGýWH[Wïýý1RýLVýWKHýGHIDXOWý0DWFKý&DVHýVHOHFWLRQï

&KDQJLQJý0HVVDJHý'DWDýõ,63)ô

ììå &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

5HSHDWLQJýRUýFRQWLQXLQJýWH[WýFKDQJHV

$IWHUý\RXýHQWHUýDýFKDQJHýFRPPDQGý\RXýFDQýSUHVVý3)çýõ5FKDQJHôýWRýUHSHDWýWKHý&KDQJHýFRPPDQGýVHDUFKýIRUýWKHýQH[WñýSUHYLRXVñýILUVWñýRUýODVWýRFFXUUHQFHýRIýWKHýPHVVDJHýWH[WýGHSHQGLQJýRQýWKHýRSWLRQDOýSDUDPHWHUý\RXýHQWHUHGïýý,IýWKHýVHDUFKýWH[WýLVýQRWýIRXQGýDý%RWWRPýRIýGDWDýUHDFKHGýõRUý7RSýRIýGDWDýUHDFKHGôýPHVVDJHýLVýGLVSOD\HGïýý7RýFRQWLQXHýVHDUFKLQJñýUHSRVLWLRQýWKHýFXUVRUýDQGýSUHVVý3)çýDJDLQï

,Iý\RXýVWDUWýVHDUFKLQJýIURPýDýILHOGýSDUWýZD\ýWKURXJKýDýTXHXHýDQGýQRýVHDUFKýWH[WýLVýIRXQGñý34(GLWýDVNVýLIý\RXýZDQWýWRýFRQWLQXHýIURPýWKHýWRSýõRUýERWWRPôýRIýWKHýTXHXHýWRýVHDUFKýWKHýUHPDLQGHUýRIýWKHýTXHXHï

&KDSWHUýìíïý)LQGLQJýDQGý&KDQJLQJý0HVVDJHV ììä

3ULPDU\ý&RPPDQGVýIRUý)LQGLQJýDQGý&KDQJLQJý0HVVDJHVýõ,63)ô

3ULPDU\ý&RPPDQGVýIRUý)LQGLQJýDQGý&KDQJLQJý0HVVDJHVýõ,63)ô

n ,QWURGXFWLRQ

3ULPDU\ýFRPPDQGVýDUHýFRPPDQGVýHQWHUHGýRQýWKHý&RPPDQGýOLQHýRIýDý34(GLWýSDQHOýXQGHUý,63)ïýý7KHýSULPDU\ýFRPPDQGVýDUHýYHU\ýVLPLODUýWRýWKHýFRPPDQGVý\RXýHQWHUýIRUýVWDQGDUGý,63)ýFRPPDQGýOLQHýHGLWLQJïý

,QýDGGLWLRQýWRýWKHLUýXVHýLQýILQGLQJýDQGýFKDQJLQJý046HULHVýPHVVDJHVñýSULPDU\ýFRPPDQGVýDOVRýRIIHUýDQýDOWHUQDWHýZD\ýRIýHQWHULQJýWKHýFRPPDQGVýOLVWHGýRQýWKHý4XHXHý3DQHOýPHQXVïýý

n 3ULPDU\ýFRPPDQGVýDVýDQýDOWHUQDWLYHýWRýPHQXýVHOHFWLRQV

3ULPDU\ýFRPPDQGVýRIIHUýNH\ERDUGýHQWULHVýDVýDQýDOWHUQDWLYHýWRýHQWHULQJýFRPPDQGVýIURPýPHQXýVHOHFWLRQVïýý7RýHQWHUýDýSULPDU\ýFRPPDQGñý\RXýW\SHýWKHýILUVWýWKUHHýOHWWHUVýRIýDýPHQXýVHOHFWLRQïýý)RUýH[DPSOHñýWRýHQWHUýDý5HIUHVKýFRPPDQGñýZKLFKýLVýOLVWHGýRQýWKHý)LOHýPHQXñý\RXýW\SHý5()ýRQýWKHýFRPPDQGýOLQHï

n 3ULPDU\ýFRPPDQGVýXVHGýWRýILQGñýFKDQJHýRUýILOWHUýPHVVDJHV

,QýDGGLWLRQýWRýXVLQJýSULPDU\ýFRPPDQGVýWRýPDNHýPHQXýVHOHFWLRQVñý34(GLWýLQFOXGHVýSULPDU\ýFRPPDQGVýWRýHQWHUýWKHý)LQGñý&KDQJHñýDQGý)LOWHUýFRPPDQGVïýý)LQGýDQGý&KDQJHýDUHýSULPDU\ýFRPPDQGVýWKDWýFDQýRQO\ýEHýHQWHUHGýRQýWKHýFRPPDQGýOLQHïýý7KHý)LOWHUýFRPPDQGýFDQýEHýHQWHUHGýRQýWKHýFRPPDQGýOLQHýRUýHQWHUHGýXVLQJýWKHý),/ýOLQHýFRPPDQGï

,63)

)LQGý3ULPDU\ý&RPPDQG

ìëí &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

)LQGý3ULPDU\ý&RPPDQG

n ,QWURGXFWLRQ

8VHýWKHý),1'ýFRPPDQGýWRýILQGýVSHFLILFýPHVVDJHýWH[WýLQýDýTXHXHïýý:KHQý\RXýHQWHUýWKHý),1'ýFRPPDQGý\RXýVSHFLI\ýWKHýWH[Wý\RXýZDQWýWRýILQGýDQGýHQWHUýSDUDPHWHUVýWRýOLPLWý\RXUýVHDUFKïýý,QýDGGLWLRQñýDQý5),1'ýõ3)èôýFRPPDQGýLVýDYDLODEOHýVRý\RXýFDQýUHSHDWýWKHýVHDUFKï

n 8VLQJýWKHý)LQGýFRPPDQG

7RýHQWHUýWKHý)LQGýFRPPDQGñýHQWHUý),1'ñýWKHýPHVVDJHýWH[Wý\RXýZDQWýWRýVHDUFKýIRUñýDQGýWKHýPHVVDJHýFROXPQýIRUý\RXUýVHDUFKïýý)RUýH[DPSOHñýWKHýIROORZLQJýFRPPDQGýVHDUFKHVýFROXPQýèýIRUýWKHýWH[Wý%52.(5ã

&RPPDQGý !ý),1ý%52.(5ýè

7KHýIRUPDWýRIýWKHý),1'ýFRPPDQGýLVã

7KHýVHDUFKýWH[WýDQGýFROXPQýQXPEHUýDUHýUHTXLUHGýSDUDPHWHUVýIRUýWKHý),1'ýFRPPDQGïý)LQGýFDQýEHýHQWHUHGýLQýXSSHUýRUýORZHUýFDVHýDQGýDEEUHYLDWHGýWRýWKHýILUVWýFKDUDFWHUýRIýWKHýFRPPDQGýõ)ôïýý7KHý)LQGýFRPPDQGýVHDUFKHVýIRUýWH[WýZKHWKHUýRUýQRWýLWýPDNHVýXSýWKHýHQWLUHýFROXPQïý

,Iý\RXýVWDUWýVHDUFKLQJýIURPýDýILHOGýSDUWýZD\ýWKURXJKýDýTXHXHñýDQGýQRýVHDUFKýWH[WýLVýIRXQGñý34(GLWýDVNVýLIý\RXýZDQWýWRýFRQWLQXHýIURPýWKHýWRSýõRUýERWWRPôýRIýWKHýTXHXHýWRýVHDUFKýWKHýUHPDLQGHUýRIýWKHýTXHXHïýý

1RWHãý34(GLWýVHDUFKHVýRQO\ýWKHýHQWULHVýLQýWKHýFROXPQý\RXýVSHFLI\ïýý34(GLWýGRHVýQRWýVHDUFKýDOOýFROXPQVýRIýWKHýPHVVDJHï

n 2SWLRQDOý)LQGýFRPPDQGýSDUDPHWHUV

2SWLRQDOý)LQGýFRPPDQGýSDUDPHWHUVýDQGýVHDUFKýIHDWXUHVýIRUý34(GLWýXQGHUý,63)ýLQFOXGHýWKHýIROORZLQJãý

n 7H[WýVHDUFKýGHOLPLWHUV

n &DVHðVHQVLWLYHýVHDUFKLQJ

n 3DUDPHWHUVýWRýLQGLFDWHýVHDUFKýGLUHFWLRQýDQGýVWDUWLQJýSRLQW

),1' VHDUFKýWH[W

ýöVHDUFKýWH[Wýö

FROXPQýQRï

1(;735(9),567/$67

&öVHDUFKýWH[Wö

,63)

&KDSWHUýìíïý)LQGLQJýDQGý&KDQJLQJý0HVVDJHV ìëì

)LQGý3ULPDU\ý&RPPDQG

7H[WýVHDUFKýGHOLPLWHUV

<RXýPD\ýVHDUFKýIRUýWH[WýWKDWýFRQWDLQVýVSHFLDOýFKDUDFWHUVýVXFKýDVýEODQNVñýFRPPDVñýRUýILQGýNH\ZRUGýSDUDPHWHUVïýý)RUýH[DPSOHýLIý\RXýDUHýVHDUFKLQJýIRUýWKHýVWULQJñýû6$/(6ý$*(17ûýZKLFKýFRQWDLQVýDýEODQNñý\RXýPXVWýXVHýDýGHOLPLWHGýVWULQJïýý$ýGHOLPLWHGýVWULQJýEHJLQVýDQGýHQGVýZLWKýDQýDSRVWURSKHýõýöýôï

6SHFLDOýFDVHVýZKHUHý\RXýPXVWýXVHýDSRVWURSKHVýWRýGHOLPLWýWKHýVHDUFKýWH[WýLQFOXGHýWKHýIROORZLQJã

n 7KHýVWULQJýFRQWDLQVýEODQNVñýFRPPDVñýDSRVWURSKHVñýRUýRWKHUýVSHFLDOýFKDUDFWHUVýýýýýýýý

n 7KHýVWULQJýFRXOGýEHýLQWHUSUHWHGýDVýDý),1'ýNH\ZRUGýSDUDPHWHUñýRUýFROXPQýLQGLFDWRUýýýýýýýýý

n <RXýZDQWýWRýPDWFKýWKHýFDVHýRIýWKHýVHDUFKýVWULQJýõVHHýWKHýWRSLFñýû&DVHð6HQVLWLYHý6HDUFKLQJûôï

6HDUFKLQJýZLWKýGHOLPLWHUV

7RýVHDUFKýWKHýWKLUGýFROXPQýIRUýWKHýWH[Wýû'HELWý0HPRñûýHQWHUýWKHýIROORZLQJýFRPPDQGýDWýWKHýFRPPDQGýOLQHã

&RPPDQGý !ý),1'ýö'HELWý0HPRö#ê

'HOLPLWHUVýDUHýDOZD\VýYDOLGýIRUýDýVHDUFKýVWULQJïýý)HHOýIUHHýWRýXVHýWKHPýLQýFDVHVýZKHUHý\RXýDUHýQRWýVXUHýLIýWKH\ýDUHýUHTXLUHGï

&DVHðVHQVLWLYHýVHDUFKLQJ

7KHý&ýSDUDPHWHUýLQGLFDWHVýWKDWý\RXýZDQWýWRýPDWFKýWKHýFDVHýRIýGHOLPLWHGýWH[Wïýý7RýXVHýWKHý&ýSDUDPHWHUñý\RXýPXVWýHQFORVHýWKHýVHDUFKýWH[WýLQýDSRVWURSKHVýõöôïýý(QWHUýWKHý&ýSDUDPHWHUýZLWKRXWýDýVSDFHýEHIRUHýWKHýVHDUFKýWH[WýLQýDSRVWURSKHVï

3DUDPHWHUVýWRýVSHFLI\ýGLUHFWLRQýDQGýVWDUWLQJýSRLQWý

8VHýý1(;7ñý35(9ñý),567ñýRUý/$67ýWRýLQGLFDWHýWKHýGLUHFWLRQýDQGýVWDUWLQJýSRLQWýRIýWKHýVHDUFKïýý7KHýSDUDPHWHUVý\RXýFDQýHQWHUýLQFOXGHýWKHýIROORZLQJã

1(;7 6HDUFKHVýIRUýWKHýQH[WýRFFXUUHQFHýRIýWKHýVSHFLILHGýPHVVDJHýWH[WýVWDUWLQJýZLWKýWKHýILUVWýPHVVDJHýGLVSOD\HGýLQýWKHý4XHXHýSDQHOïý

35(9 6HDUFKHVýIRUýWKHýSUHYLRXVýRFFXUUHQFHýRIýWKHýVSHFLILHGýPHVVDJHýWH[WýVWDUWðLQJýZLWKýWKHýILUVWýPHVVDJHýGLVSOD\HGýLQýWKHý4XHXHýSDQHOïý

),567 6HDUFKHVýIRUýWKHýILUVWýRFFXUUHQFHýRIýWKHýVSHFLILHGýPHVVDJHýWH[WýVWDUWLQJýDWýWKHýEHJLQQLQJýRIýWKHýILUVWýPHVVDJHýDQGýFRQWLQXLQJýXQWLOýWKHýWH[WýLVýIRXQGñýRUýXQWLOýWKHýERWWRPýRIýGDWDýLVýUHDFKHGïý

/$67 6HDUFKHVýIRUýWKHýODVWýRFFXUUHQFHýRIýWKHýVSHFLILHGýPHVVDJHýWH[WýVWDUWLQJýDWýWKHýHQGýRIýWKHýODVWýOLQHýRIýPHVVDJHýGDWDýDQGýFRQWLQXLQJýEDFNZDUGýXQWLOýWKHýWH[WýLVýIRXQGñýRUýXQWLOýWKHýWRSýRIýWKHýTXHXHýLVýUHDFKHGïý

)LQGý3ULPDU\ý&RPPDQG

ìëë &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

([DPSOHã

7KHýIROORZLQJýFRPPDQGýVHDUFKHVýIRUýWKHýQH[WýRFFXUUHQFHýRIýWKHýWH[Wñýû5HJLRQýêïû

&RPPDQGý !ý),1'ýö5HJLRQýêöý1(;7

n 5HSHDWý)LQGý1H[W

$IWHUý\RXýHQWHUýDý)LQGýRUý&KDQJHýFRPPDQGý\RXýFDQýXVHý3)èýõ5ILQGôýWRýUHSHDWýWKHý)LQGýFRPPDQGýXVLQJýWKHýVHDUFKýWH[Wý\RXýHQWHUHGïýý

&KDSWHUýìíïý)LQGLQJýDQGý&KDQJLQJý0HVVDJHV ìëê

&KDQJHý3ULPDU\ý&RPPDQG

&KDQJHý3ULPDU\ý&RPPDQG

n ,QWURGXFWLRQ

7KLVýWRSLFýH[SODLQVýKRZý\RXýXVHýWKHý&KDQJHýSULPDU\ýFRPPDQGýWRýILQGýDQGýFKDQJHýDýVSHFLILFýPHVVDJHýWH[WýVWULQJýLQýDýTXHXHïý:KHQý\RXýHQWHUýWKHý&KDQJHýFRPPDQGý\RXýVSHFLI\ýWKHýVHDUFKýWH[WñýFKDQJHýWH[WñýDQGýTXHXHýFROXPQýZKHUHý\RXýZDQWýWRýPDNHýWKHýFKDQJHVïý7KLVýFRPPDQGýRIIHUVýWKHýVHDUFKýIHDWXUHVýRIýWKHý)LQGýFRPPDQGýSOXVýWKHýDELOLW\ýWRýHQWHUýFKDQJHGýWH[WýVWULQJVï

n 8VLQJýWKHý&KDQJHýFRPPDQGý

&KDQJHýVHDUFKHVýIRUýDQGýFKDQJHVýVSHFLILHGýWH[WýLQýWKHýPHVVDJHVýLQýWKHýFROXPQýVSHFLILHGýLQýWKHýFRPPDQGïýý8QOHVVý\RXýVSHFLI\ýDQRWKHUýVHDUFKýSDUDPHWHUñýWKHýVHDUFKýVWDUWVýRQýWKHýOLQHýDWýWKHýWRSýRIýWKHýGLVSOD\HGýPHVVDJHVï

7RýHQWHUýWKHý&KDQJHýFRPPDQGñýHQWHUý&+$1*(ñýWKHýPHVVDJHýWH[Wý\RXýZDQWýWRýFKDQJHñýWKHýFKDQJHýWH[WñýDQGýWKHýPHVVDJHýFROXPQýIRUý\RXUýFKDQJHVïýý)RUýH[DPSOHñýWKHýIROORZLQJýFRPPDQGýVHDUFKHVýFROXPQýèýIRUýWKHýWH[Wýû%52.(5ûýDQGýFKDQJHVýHDFKýRFFXUUHQFHýWRýû$*(17ïû

&RPPDQGý !ý&+$1*(ý%52.(5ý$*(17ýè

7KHýVHDUFKýWH[WñýFKDQJHGýWH[WñýDQGýFROXPQýQXPEHUýDUHýUHTXLUHGýSDUDPHWHUVýIRUýWKHý&KDQJHýFRPPDQGïýý&KDQJHýFDQýEHýHQWHUHGýLQýXSSHUýRUýORZHUýFDVHýDQGýFDQýEHýDEEUHYLDWHGýWRýWKHýILUVWýFKDUDFWHUýRIýWKHýFRPPDQGýõ&ôïýý7KHý&KDQJHýFRPPDQGýFKDQJHVýWH[WýZKHWKHUýRUýQRWýLWýPDNHVýXSýWKHýHQWLUHýFROXPQïý

,Iý\RXýVWDUWýVHDUFKLQJýIURPýDýILHOGýSDUWýZD\ýWKURXJKýDýTXHXHñý34(GLWýVHDUFKHVýRQO\ýWKHýUHPDLQGHUýRIýWKHýTXHXHï

1RWHãý34(GLWýVHDUFKHVýRQO\ýWKHýHQWULHVýLQýWKHýFROXPQý\RXýVSHFLI\ïýý34(GLWýGRHVýQRWýVHDUFKýDOOýFROXPQVýRIýWKHýPHVVDJHï

n 2SWLRQDOý&KDQJHýFRPPDQGýSDUDPHWHUV

2SWLRQDOý&KDQJHýFRPPDQGýSDUDPHWHUVýDQGýVHDUFKýIHDWXUHVýIRUý34(GLWýXQGHUý,63)ýLQFOXGHýWKHýIROORZLQJã

n 7H[WýVHDUFKýDQGýFKDQJHýWH[WýGHOLPLWHUV

n &DVHðVHQVLWLYHýFKDUDFWHUýVHDUFKýDQGýFKDQJH

n 3DUDPHWHUVýWRýLQGLFDWHýVHDUFKýGLUHFWLRQýDQGýVWDUWLQJýSRLQW

&+$1*( VHDUFKýWH[W

öVHDUFKýWH[Wö

&öVHDUFKýWH[Wö

FROXPQýQRï

$//

1(;735(9),567/$67

QHZýWH[W

ýöQHZýWH[Wö

&öQHZýWH[Wö

&KDQJHý3ULPDU\ý&RPPDQG

ìëé &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

7H[WýVHDUFKýDQGýFKDQJHýWH[WýGHOLPLWHUV

<RXýPD\ýVHDUFKýIRUýDQGýFKDQJHýWH[WýWKDWýFRQWDLQVýVSHFLDOýFKDUDFWHUVýVXFKýDVýEODQNVñýFRPPDVñýRUýILQGýNH\ZRUGýSDUDPHWHUVïýý)RUýH[DPSOHýLIý\RXýDUHýVHDUFKLQJýIRUýWKHýVWULQJñýû6$/(6ý$*(17ûýDQGý\RXýZDQWýWRýUHSODFHýLWýZLWKýû6$/(6ý5(3ûý\RXýPXVWýXVHýGHOLPLWHGýVWULQJVïýý

$ýGHOLPLWHGýVWULQJýEHJLQVýDQGýHQGVýZLWKýDQýDSRVWURSKHýõýöýôï

6SHFLDOýFDVHVýZKHUHý\RXýPXVWýXVHýDSRVWURSKHVýWRýGHOLPLWýWKHýVHDUFKýWH[WýLQFOXGHýWKHýIROORZLQJã

n 7KHýVWULQJýFRQWDLQVýEODQNVñýFRPPDVñýDSRVWURSKHVñýRUýRWKHUýVSHFLDOýFKDUDFWHUVýýýýýýýý

n 7KHýVWULQJýFRXOGýEHýLQWHUSUHWHGýDVýDý&+$1*(ýNH\ZRUGýSDUDPHWHUñýRUýFROXPQýLQGLFDWRUýýýýýýýýý

n <RXýZDQWýWRýPDWFKýWKHýFDVHýRIýWKHýVHDUFKýVWULQJýõVHHýWKHýWRSLFñýû&DVHð6HQVLWLYHý6HDUFKLQJûôï

6HDUFKLQJýDQGýFKDQJLQJýWH[WýZLWKýGHOLPLWHUV

7RýVHDUFKýWKHýWKLUGýFROXPQýIRUýWKHýWH[Wýû'HELWý0HPRûýDQGýFKDQJHýLWýWRýû&UHGLWý0HPRûýHQWHUýWKHýIROORZLQJýDWýWKHýFRPPDQGýOLQHã

&RPPDQGý !ý&+$1*(ýö'HELWý0HPRöýö&UHGLWý0HPRöýê

'HOLPLWHUVýDUHýDOZD\VýYDOLGýIRUýDýVHDUFKýRUýFKDQJHýVWULQJïýý)HHOýIUHHýWRýXVHýWKHPýLQýFDVHVýZKHUHý\RXýDUHýQRWýVXUHýLIýWKH\ýDUHýUHTXLUHGï

&DVHðVHQVLWLYHýFKDUDFWHUýVHDUFKýDQGýFKDQJH

7KHý&ýõFKDUDFWHUôýSDUDPHWHUýLQGLFDWHVýWKDWý\RXýZDQWýWRýPDWFKýWKHýFDVHýRIýýWKHýFKDUDFWHUVýLQýWKHýGHOLPLWHGýWH[Wïýýý7RýXVHýWKHý&ýSDUDPHWHUñý\RXýPXVWýSUHFHGHýWKHýFKDUDFWHUýVWULQJýZLWKýDý&ýDQGýDOVRýHQFORVHýWKHýVHDUFKýRUýFKDQJHýWH[WýLQýDSRVWURSKHVýõöôïý(QWHUýWKHý&ýSDUDPHWHUýZLWKRXWýDýVSDFHýEHIRUHýWKHýVHDUFKýWH[WýLQýDSRVWURSKHVï

([DPSOHã

&RPPDQGý !ý&+ý&�'D*DPD�ý�GD*DPD�ýýýýý

7KHýFRPPDQGýILQGVýWKHýWH[Wýû'D*DPDûýDQGýFKDQJHVýLWýWRýûGD*DPDûïýýý

$OOýFKDUDFWHUVýZLWKLQýDýFKDUDFWHUýVWULQJýDUHýWUHDWHGýH[DFWO\ýDVýHQWHUHGïýý7KHýTXHXHýFROXPQýLVýVHDUFKHGýIRUýDQýH[DFWýPDWFKïýý,QýWKHýH[DPSOHñýWKHýWH[Wýû'H*DPDûýLVýFKDQJHGñýEXWýRWKHUýYDULDWLRQVñýVXFKýDVýû'$*$0$ûýDUHýQRWýFKDQJHGï

&KDSWHUýìíïý)LQGLQJýDQGý&KDQJLQJý0HVVDJHV ìëè

&KDQJHý3ULPDU\ý&RPPDQG

3DUDPHWHUVýWRýVSHFLI\ýGLUHFWLRQýDQGýVWDUWLQJýSRLQWý

8VHýý1(;7ñý35(9ñý),567ñýRUý/$67ýWRýLQGLFDWHýWKHýGLUHFWLRQýDQGýVWDUWLQJýSRLQWýRIýWKHýVHDUFKïýý7KHýSDUDPHWHUVý\RXýFDQýHQWHUýLQFOXGHýWKHýIROORZLQJã

([DPSOHã

7KHýIROORZLQJýFRPPDQGýVHDUFKHVýFROXPQýéýIRUýDOOýRFFXUUHQFHVýRIýWKHýWH[Wñýû5HJLRQýêûýDQGýFKDQJHVýWKHPýWRýû5HJLRQýéû

&RPPDQGý !ý&+$1*(ýö5HJLRQýêöýö5HJLRQýéöý$//ýé

n 5HSHDWý&KDQJH

$IWHUý\RXýHQWHUýDý&KDQJHýFRPPDQGý\RXýFDQýSUHVVý3)çýõ5FKDQJHôýWRýUHSHDWýWKHý&KDQJHýFRPPDQGýXVLQJýWKHýVHDUFKýDQGýFKDQJHýWH[Wý\RXýHQWHUHGï

1(;7 6HDUFKHVýIRUýWKHýQH[WýRFFXUUHQFHýRIýWKHýVSHFLILHGýPHVVDJHýWH[WýVWDUWLQJýZLWKýWKHýILUVWýGLVSOD\HGýPHVVDJHýLQýWKHý4XHXHýSDQHOïý

35(9 6HDUFKHVýIRUýWKHýSUHYLRXVýRFFXUUHQFHýRIýWKHýVSHFLILHGýPHVVDJHýWH[WýVWDUWðLQJýZLWKýWKHýILUVWýGLVSOD\HGýPHVVDJHýLQýWKHý4XHXHýSDQHOïý

),567 6HDUFKHVýIRUýWKHýILUVWýRFFXUUHQFHýRIýWKHýVSHFLILHGýPHVVDJHýWH[WýVWDUWLQJýDWýWKHýEHJLQQLQJýRIýWKHýILUVWýPHVVDJHýDQGýFRQWLQXLQJýXQWLOýWKHýWH[WýLVýIRXQGñýRUýXQWLOýWKHýERWWRPýRIýGDWDýLVýUHDFKHGïý

/$67 6HDUFKHVýIRUýWKHýODVWýRFFXUUHQFHýRIýWKHýVSHFLILHGýPHVVDJHýWH[WýVWDUWLQJýDWýWKHýHQGýRIýWKHýODVWýPHVVDJHýDQGýFRQWLQXLQJýEDFNZDUGýXQWLOýWKHýWH[WýLVýIRXQGñýRUýXQWLOýWKHýWRSýRIýWKHýTXHXHýLVýUHDFKHGïý

$// 6HDUFKHVýIRUýHYHU\ýRFFXUUHQFHýRIýWKHýVSHFLILHGýPHVVDJHýWH[WýLQýWKHýTXHXHýDQGýFKDQJHVýWKHýVHDUFKHGýWH[WýWRýWKHýQHZýWH[WýVSHFLILHGïý

&KDQJHý3ULPDU\ý&RPPDQG

ìëç &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

&DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH ìëæ

&KDSWHUýììïý)LOWHULQJý0HVVDJHV

,QWURGXFWLRQ

7KLVýFKDSWHUýH[SODLQVýWKHý)LOWHUýFRPPDQGýRQýWKHý6HDUFKýPHQXïý'HWDLOHGýLQIRUPDWLRQýLVýSURYLGHGýWRýVKRZýKRZý34(GLWýFDQýH[WUDFWýDýVXEVHWýRIýPHVVDJHVýIURPýDýTXHXHýXVLQJýSRZHUIXOýILOWHUýH[SUHVVLRQVïý7KHVHýILOWHUVýFDQýEHýVDYHGýDQGýUHORDGHGýIRUýODWHUýXVHïý

&KDSWHUý&RQWHQWV

)LOWHULQJý0HVVDJHVýõ*8,ô ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìëå)LOWHUý0HVVDJHVýGLDORJýER[ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìëå

%XLOGLQJýDý)LOWHUýõ*8,ô ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìëä(QWHULQJýH[SUHVVLRQVýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìëä6DYHýWKHýILOWHUïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìêì

+RZýWRý%XLOGýDý)LOWHUýõ*8,ô ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìêë

)LOWHULQJý0HVVDJHVýõ,63)ô ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìêê0HVVDJHý)LOWHUýSDQHOýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìêê

%XLOGLQJýDý)LOWHUýõ,63)ô ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìêé0HVVDJHýILOWHUýDFWLRQVýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìêé(QWHULQJýH[SUHVVLRQVýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìêè6DYHýWKHýILOWHUïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìêæ8VLQJýSUHYLRXVO\ýVDYHGýILOWHUV ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìêæ

+RZýWRý%XLOGýDý)LOWHUýõ,63)ô ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìêå

ìì

)LOWHULQJý0HVVDJHVýõ*8,ô

ìëå &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

)LOWHULQJý0HVVDJHVýõ*8,ô

$WýWLPHVñý\RXýPD\ýZDQWýWRýILOWHUýDýTXHXHýWRýYLHZýRUýHGLWýDýVPDOOHUýVXEVHWýRIýWKHýPHVVDJHVýEDVHGýRQýFULWHULDý\RXýGHILQHïý7KLVýFDQýEHýXVHIXOýLQýOLPLWLQJýWKHýQXPEHUýRIýPHVVDJHVýRSHQHGýZKHQý\RXýEURZVHýRUýHGLWýDýOHQJWK\ýTXHXHïý<RXýXVHýWKHý)LOWHUýFRPPDQGýIURPýWKHý6HDUFKýPHQXýWRýGLVSOD\ýDý)LOWHUýGLDORJýER[ïýý

n )LOWHUý0HVVDJHVýGLDORJýER[

8VHýWKHý)LOWHUý0HVVDJHVýGLDORJýER[ýWRýUHWULHYHýRUýILOWHUýVSHFLILFýPHVVDJHVýIURPýWKHýTXHXHýEDVHGýRQýFULWHULDýWKDWý\RXýGHILQHïý7KHýFULWHULDýPD\ýLQFOXGHýILHOGVýIURPýWKHýPHVVDJHýGHVFULSWRUýDVýZHOOýDVýILHOGVýIURPýWKHýPHVVDJHýGDWDïýý<RXýFDQýDOVRýFUHDWHýILOWHUVýXVLQJýILHOGVýIURPý046HULHVý6\VWHPýOD\RXWýVSHFLILFDWLRQVñýVXFKýDVý04'($'ýZKLFKýLVýXVHGýIRUýGHDGðOHWWHUýTXHXHVïýý<RXýPD\ýVDYHñýUHXVHñýRUýUHYLVHýWKHVHýILOWHUVýDWýDýODWHUýGDWHýDVýUHTXLUHGýIRUýDSSOLFDWLRQýGHYHORSPHQWýDQGýWHVWLQJï

7RýILOWHUýPHVVDJHVýZKHQýLQLWLDOO\ýRSHQLQJýWKHýTXHXHñýFOLFNýRQýWKHý)LOWHUý0HVVDJHVýFKHFNER[ýRQýWKHý2SHQý4XHXHýGLDORJýER[ïý7KHý)LOWHUý0HVVDJHVýGLDORJýER[ýDSSHDUVýEHIRUHýWKHýTXHXHýLVýGLVSOD\HGïýý7RýILOWHUýPHVVDJHVýDIWHUýWKHýTXHXHýLVýGLVSOD\HGñýFKRRVHý)LOWHUýIURPýWKHý(GLWýPHQXñýDIWHUýWKHýTXHXHýLVýRSHQHGï

*8,

&KDSWHUýììïý)LOWHULQJý0HVVDJHV ìëä

%XLOGLQJýDý)LOWHUýõ*8,ô

%XLOGLQJýDý)LOWHUýõ*8,ô

)LOWHULQJýPHVVDJHVýFRQVLVWVýSULPDULO\ýRIýVHOHFWLQJýTXHXHýILHOGýQDPHVýZLWKýVSHFLILFýYDOXHVýWRýXVHýDVýFULWHULDýWRýVHOHFWýWKHýPHVVDJHVý\RXýZDQWýWRýYLHZýLQýWKHýTXHXHïý7RýEXLOGýDýILOWHUñý\RXýPXVWýILUVWýHQWHUýRUýVHOHFWýDýYDOXHýIRUýWKHýIROORZLQJýWKUHHýILHOGVã

n )LHOGý1DPH

n 2SHUDWRU

n 9DOXH

7KHýIROORZLQJýGLVFXVVLRQýGHVFULEHVýWKHýJHQHUDOýSURFHGXUHVýLQýEXLOGLQJýDýILOWHUýWRýVHOHFWýPHVVDJHVï

n (QWHULQJýH[SUHVVLRQVý

$Wý)LHOGý1DPHý\RXýHQWHUýDýOD\RXWýVSHFLILFDWLRQýDQGýILHOGýQDPHý\RXýZDQWýWRýVHOHFWýLQýFUHDWLQJýDýILOWHUýH[SUHVVLRQïýý<RXýFDQýHLWKHUýHQWHUýWKHýQDPHVýRIýWKHýOD\RXWýVSHFLILFDWLRQýDQGýILHOGýGLUHFWO\ñýRUýXVHýWKHý�ýEXWWRQýWRýPDNHý\RXUýHQWU\ïýý,Iý\RXýHQWHUý)LHOGý1DPHVýGLUHFWO\ýRQýWKHý)LOWHUý0HVVDJHVýGLDORJýER[ñýHQWHUýWKHPýLQýWKHýIRUPãýOD\RXWýVSHFLILFDWLRQãILHOGï

7KHýïïïýEXWWRQ

&OLFNýWKHý�ýõHOOLSVLVôýEXWWRQýWRýGLVSOD\ýWKHý6SHFLI\ý)LHOGýGLDORJýER[ýWRýFKRRVHýDýILHOGýQDPHýIURPýDýOLVWýRIýOD\RXWýVSHFLILFDWLRQVýDQGýILHOGýQDPHVïýý,Iý\RXýGRýQRWýUHPHPEHUýWKHýILHOGVýDYDLODEOHýIRUýVHDUFKLQJñý\RXýFDQýFKRRVHýIURPýWKHýOLVWýGLVSOD\HGýZLWKýWKLVýEXWWRQýUDWKHUýWKDQýHQWHULQJýDýILHOGýQDPHýPDQXDOO\ïýý

)URPýWKHý6SHFLI\ý)LHOGýGLDORJýER[ý\RXýKLJKOLJKWýDýOD\RXWýVSHFLILFDWLRQýDQGýILHOGýQDPHýWRýLQGLFDWHýWKHýTXHXHýILHOGVýõFROXPQVôýWRýVHDUFKïýý$ýZLOGFDUGýõóôýOD\RXWýVSHFLILFDWLRQýQDPHýLVýDYDLODEOHýLIý\RXýQHHGýWRýHQWHUýDýVHDUFKýH[SUHVVLRQýIRUýYDOXHVýLQýPHVVDJHýGDWDýXQVWUXFWXUHGýLQWRýFROXPQVïý

,QýDGGLWLRQýWRýWKHýXVHUýGHILQHGýOD\RXWýVSHFLILFDWLRQVýLQý\RXUý)250$76ýILOHñý\RXýFDQýVHOHFWýRQHýRIýWKHý046HULHVýOD\RXWýVSHFLILFDWLRQýQDPHVñýWKHQýVHOHFWýILHOGýQDPHVýLQýWKDWýOD\RXWýVSHFLILFDWLRQýDVýSDUWýRIý\RXUýVHDUFKýFULWHULDïýý7KHýQDPHVýRIýWKHVHýV\VWHPýOD\RXWýVSHFLILFDWLRQVýXVXDOO\ýVWDUWýZLWKýWKHýFKDUDFWHUVý04ïýýýý

*8,

%XLOGLQJýDý)LOWHUýõ*8,ô

ìêí &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

([DPSOHV

ìï 7RýVHDUFKýRQýWKHý,192,&(6ýILHOGýRIýWKHý)07ð,19ýOD\RXWýVSHFLILFDWLRQñý\RXýVHOHFWýWKHýOD\RXWýVSHFLILFDWLRQñý)07ð,19ýDQGýWKHý)LHOGý1DPHñý,192,&(6âýRUý\RXýHQWHUý)07ð,19ã,192,&(6ýDVýWKHý)LHOGý1DPHýRQýWKHý)LOWHUýGLDORJýER[ïýõ7KHý)250$76ýILOHýVWRUHVýWKHýXVHUýGHILQHGýILHOGVýDQGýOD\RXWýVSHFLILFDWLRQVïôý

ëï 7RýVHDUFKýRQýWKHý3XW'DWHýILHOGýIURPýWKHýPHVVDJHýGHVFULSWRUñý\RXýVHOHFWýWKHýOD\RXWýVSHFLILFDWLRQñý0VJ'HVFýDQGýWKHýILHOGýQDPHñý3XW'DWHñýRUýHQWHUý0VJ'HVFã3XW'DWHýRQýWKHý)LOWHUýGLDORJýER[ï

6HOHFWýDQýRSHUDWRU

7RýGLVSOD\ýDýOLVWýRIýRSHUDWRUVýWKDWýDUHýYDOLGýIRUýWKHý)LHOGý1DPHñýFOLFNýRQýWKHýGRZQýDUURZýDWýWKHýRSHUDWRUýILHOGïý$ýGURSðGRZQýOLVWýDSSHDUVýWKDWýVKRZVýDOOýWKHýDYDLODEOHýRSHUDWRUVï

(QWHUýDýYDOXH

7\SHýWKHý9DOXHýWRýFRPSDUHýZLWKýLQGLYLGXDOýPHVVDJHVïýý7KHý9DOXHýFRPSOHWHVýWKHýH[SUHVVLRQý\RXýDUHýHQWHULQJýIRUýWKHýILOWHUï

$GGýH[SUHVVLRQVý

7RýDGGýH[SUHVVLRQVýWRýWKHýILOWHUñýFOLFNýHLWKHUýWKHý$GGý$ERYHýRUý$GGý%HORZýýEXWWRQïý7KHýILOWHUýH[SUHVVLRQý\RXýMXVWýHQWHUHGýDSSHDUVýLQýWKHýOLVWýER[ýHLWKHUýDERYHýRUýEHORZýDQ\ýFXUUHQWO\ýKLJKOLJKWHGýH[SUHVVLRQïýý<RXýFDQýFOLFNýRQý2.ýWRýHQWHUýWKHýILOWHUýRUýHQWHUýDGGLWLRQDOýH[SUHVVLRQVï

8VHýFRQMXQFWLYHVýRUýSDUHQWKHVHV

7RýOLQNýVHDUFKýH[SUHVVLRQVñýXVHýWKHý$1'ýRUý25ýEXWWRQVýWRýFUHDWHýORJLFDOýFRQGLWLRQVýDVýSDUWýRIý\RXUýVHDUFKýILOWHUïýý7KHý$1'ýRUý25ýFRQMXQFWLYHVýDUHýDGGHGýDWýWKHýHQGýRIýWKHýKLJKOLJKWHGýVHDUFKýH[SUHVVLRQýLQýWKHýOLVWïýý

<RXýFDQýDOVRýXVHýWKHýSDUHQWKHVHVýEXWWRQVýWRýJURXSýVWDWHPHQWVýLQýPRUHýFRPSOH[ýFRQGLWLRQVïýý6WDWHPHQWVýLQýSDUHQWKHVHVýKDYHýSUHFHGHQFHýLQýUHVROYLQJýVHDUFKýFULWHULDïý

<RXýPD\ýXVHýWKHý$1'ñý25ýDQGýSDUHQWKHVHVýEXWWRQVýWRýWRJJOHýWKHýFRQMXQFWLYHVýRUýSDUHQWKHVHVýWRýDGGýRUýUHPRYHýWKHPýIURPýH[SUHVVLRQVï

34(GLWýSHUIRUPVýV\QWD[ýFKHFNLQJýRQýH[SUHVVLRQVý\RXýHQWHUýLQýILOWHUVïýý,WýFKHFNVýWRýPDNHýVXUHýWKDWýSDUHQWKHVHVýDUHýEDODQFHGýDQGý$1'ýDQGý25ýFRQMXQFWLYHVýDUHýLQýWKHýSURSHUýSODFHïýý([SUHVVLRQVýFDQQRWýEHýDGGHGýWRýWKHýILOWHUýXQOHVVýWKH\ýDUHýV\QWDFWLFDOO\ýFRUUHFWïýý

$IWHUý\RXýHQWHUýWKHýILOWHUñý34(GLWýGLVSOD\VýWKHýTXHXHýZLWKýWKHýPHVVDJHVýWKDWýPHHWý\RXUýFULWHULDïý

&KDSWHUýììïý)LOWHULQJý0HVVDJHV ìêì

%XLOGLQJýDý)LOWHUýõ*8,ô

n 6DYHýWKHýILOWHU

<RXýPD\ýVDYHýWKHýILOWHUýWRýDýILOHýE\ýFOLFNLQJýWKHý6DYHýEXWWRQïýý7KLVýSURFHGXUHýVDYHVýRQO\ýWKHýILOWHUýLWVHOIñýQRWýWKHýILOWHUHGýPHVVDJHVïýý34(GLWýVWRUHVýDQGýRSHQVýILOWHUHGýILOHVýXVLQJýDQýï)75ýVXIIL[ï

7RýVDYHýILOWHUHGýPHVVDJHVñýXVHýWKHý8QORDGýFRPPDQGýIURPýWKHý7RROVýPHQXïýõ)RUýPRUHýLQIRUPDWLRQñýVHHý&KDSWHUýìéïýýû8QORDGLQJýDQGý/RDGLQJý4XHXHVûï

8VLQJýSUHYLRXVO\ýVDYHGýILOWHUV

,Iý\RXýKDYHýSUHYLRXVO\ýFUHDWHGýILOWHUVñý\RXýFDQýXVHýWKHý2SHQýEXWWRQýWRýGLVSOD\ýDý6HOHFWý0HVVDJHý)LOWHUýGLDORJýER[ýWRýVHOHFWýWKHýILOWHUïýý7KHVHýILOWHUýILOHVýKDYHýWKHýï)75ýVXIIL[ï

+RZýWRý%XLOGýDý)LOWHUýõ*8,ô

ìêë &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

+RZýWRý%XLOGýDý)LOWHUýõ*8,ô

8VHýWKHýIROORZLQJýSURFHGXUHýWRýEXLOGýDýILOWHUýIRUýVHDUFKLQJýIRUýPHVVDJHVýLQý34(GLWýLQýDý*8,ýHQYLURQPHQWï

6WHSýìï 2SHQýDýTXHXHýLQý34(GLWïýý7KHý34(GLWý4XHXHýZLQGRZýDSSHDUVï

6WHSýëï &KRRVHý)LOWHUýIURPýWKHý6HDUFKýPHQXïýý7KHý34(GLWý)LOWHUý0HVVDJHVýGLDORJýER[ýDSSHDUVïýýý

(QWHUýWKHýILHOGýQDPHýIRUýDýILOWHUýH[SUHVVLRQýLQýWKHýIRUPDWã

OD\RXWýVSHFLILFDWLRQãILHOGý

,Iý\RXýGRýQRWýNQRZýWKHýILHOGýQDPHñýXVHýWKHý�ýEXWWRQýWRýGLVSOD\ýWKHý6SHFLI\ý)LHOGýGLDORJýER[ýWRýVHOHFWýWKHýOD\RXWýVSHFLILFDWLRQýDQGýILHOGý\RXýZDQWï

6WHSýêï (QWHUýRUýVHOHFWýDýYDOLGýRSHUDWRUýIRUýVHOHFWLQJýPHVVDJHVïýý7RýXVHýWKHýGURSðGRZQýOLVWñýFOLFNýRQýWKHýGRZQýDUURZýDWýWKHý2SHUDWRUýILHOGýWRýGLVSOD\ýDýOLVWýRIýDOOýWKHýDYDLODEOHýRSHUDWRUVï

6WHSýéï 7\SHýWKHý9DOXHý\RXýZDQWýWRýFRPSDUHýZLWKýLQGLYLGXDOýPHVVDJHVïýý7KLVý9DOXHýFRPSOHWHVýWKHýH[SUHVVLRQý\RXýDUHýHQWHULQJýIRUýWKHýILOWHUï

6WHSýèï &OLFNýRQý$GGý$ERYHýRUý$GGý%HORZýWRýDGGýWKHýILOWHUýH[SUHVVLRQýEHIRUHýRUýDIWHUýWKHýFXUUHQWýH[SUHVVLRQýLQý\RXUýILOWHUïýý&RQWLQXHýWRýDGGýDGGLWLRQDOýH[SUHVVLRQVñýDVýQHHGHGñýXVLQJý$1'ñý25ýDQGýSDUHQWKHVHVï

6WHSýçï 7RýVDYHý\RXUýILOWHUñýFOLFNý6DYHï

6WHSýæï &RPSOHWHýWKHý6DYHý0HVVDJHý)LOWHUý$VýGLDORJýER[ýDQGýWKHQýFOLFNý6DYHï

6WHSýåï 7RýXVHý\RXUýILOWHUñýFOLFNý2.ýDQGýUHYLHZýWKHýVHOHFWHGýPHVVDJHVýLQýWKHý4XHXHýZLQGRZï

*8,

&KDSWHUýììïý)LOWHULQJý0HVVDJHV ìêê

)LOWHULQJý0HVVDJHVýõ,63)ô

ý)LOWHULQJý0HVVDJHVýõ,63)ô

8QGHUý,63)ñýHQWHUýWKHý)LOWHUýFRPPDQGýIURPýWKHý6HDUFKýPHQXýWRýGLVSOD\ýWKHý0HVVDJHý)LOWHUýSDQHOïýý<RXýFDQýDOVRýGLVSOD\ýWKHý)LOWHUýSDQHOýE\ýHQWHULQJý),/ýRQýWKHý&RPPDQGýOLQHï

n 0HVVDJHý)LOWHUýSDQHO

8VHýWKHý0HVVDJHý)LOWHUýSDQHOýWRýUHWULHYHýRUýILOWHUýVSHFLILFýPHVVDJHVýIURPýWKHýTXHXHýEDVHGýRQýFULWHULDýWKDWý\RXýGHILQHïý7KHýFULWHULDýPD\ýLQFOXGHýILHOGVýIURPýWKHýPHVVDJHýGHVFULSWRUýDVýZHOOýDVýILHOGVýIURPýWKHýPHVVDJHýGDWDïýý<RXýFDQýDOVRýFUHDWHýILOWHUVýXVLQJýILHOGVýIURPý046HULHVý6\VWHPýOD\RXWýVSHFLILFDWLRQVñýVXFKýDVý04'($'ýZKLFKýLVýXVHGýIRUýGHDGðOHWWHUýTXHXHVïýý<RXýPD\ýVDYHñýUHXVHñýRUýUHYLVHýWKHVHýILOWHUVýDWýDýODWHUýGDWHýDVýUHTXLUHGýIRUýDSSOLFDWLRQýGHYHORSPHQWýDQGýWHVWLQJï

7RýILOWHUýPHVVDJHVýZKHQýLQLWLDOO\ýRSHQLQJýWKHýTXHXHñýVHOHFWýWKHý)LOWHUý0HVVDJHVýVHOHFWLRQýRQýWKHý2SHQý4XHXHýSDQHOïý7KHý0HVVDJHý)LOWHUýSDQHOýDSSHDUVýEHIRUHýWKHýTXHXHýLVýGLVSOD\HGïýý7RýILOWHUýPHVVDJHVýDIWHUýWKHýTXHXHýLVýGLVSOD\HGñýFKRRVHý)LOWHUýIURPýWKHý6HDUFKýPHQXï

ý34(GLWýðý0HVVDJHý)LOWHUýýýýýýýýýýýýý5RZýìýWRýìýRIýìýýýýýý

ý(QWHUýILOWHUýEHORZýDQGýSUHVVý(QGî3)êïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý

ýýýý2SHQýILOWHUýIURPýDQýH[LVWLQJýGDWDýVHWýýýýý6DYHýILOWHUýWRýDQýH[LVWLQJýGDWDýVHWýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý$FWLRQVãý,ý ý,QVHUWý'ý ý'HOHWHý6ý ý6SHFLI\ý)LHOGýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý

ýýýõýððððððððððððý)LHOGýðððððððððððððý2Sýððððððððððððý9DOXHýðððððððððððððýôý&QMýýBýBýBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBý BýBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBýBýBBBýýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóý%RWWRPýRIýGDWDýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóý

,63)

%XLOGLQJýDý)LOWHUýõ,63)ô

ìêé &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

%XLOGLQJýDý)LOWHUýõ,63)ô

)LOWHULQJýPHVVDJHVýFRQVLVWVýSULPDULO\ýRIýVHOHFWLQJýTXHXHýILHOGýQDPHVýZLWKýVSHFLILFýYDOXHVýWRýXVHýDVýFULWHULDýWRýVHOHFWýWKHýPHVVDJHVý\RXýZDQWýWRýYLHZýLQýWKHýTXHXHïý7RýEXLOGýDýILOWHUñý\RXýPXVWýILUVWýHQWHUýRUýVHOHFWýDýYDOXHýIRUýWKHýIROORZLQJýWKUHHýILHOGVã

n )LHOGý

n 2SHUDWRU

n 9DOXH

7KHýIROORZLQJýGLVFXVVLRQýGHVFULEHVýWKHýJHQHUDOýSURFHGXUHVýLQýEXLOGLQJýDýILOWHUýWRýVHOHFWýPHVVDJHVïýý7KLVýGHVFULSWLRQýLVýIROORZHGýE\ýDýPRUHýGHWDLOHGýH[SODQDWLRQýRIýHDFKýFRPSRQHQWýLQýILOWHUýH[SUHVVLRQVï

n 0HVVDJHýILOWHUýDFWLRQV

7RýDGGýDQýH[SUHVVLRQýWRýDýILOWHUñýHQWHUýDQýH[SUHVVLRQýOLQHýRUýOLQHVýWRýWKHýSDQHOïýý7KHýILOWHUýH[SUHVVLRQýDSSHDUVýLQýWKHýOLVWýDWýWKHýERWWRPýRIýWKHýSDQHOïýý7RýEXLOGýDýILOWHUñýHQWHUýRQHýRIýWKHýIROORZLQJýOLQHýFRPPDQGVã

n ,ýðýWRýLQVHUWýH[SUHVVLRQýOLQHV

n 'ýðýWRýGHOHWHýH[SUHVVLRQýOLQHV

n 6ýðýWRýVSHFLI\ýDýILHOGýRUýILHOGVýWRýXVHýLQýWKHýILOWHU

&RQWLQXHýWRýDGGýDGGLWLRQDOýH[SUHVVLRQVñýLIýUHTXLUHGñýXVLQJýWKHýFRQMXQFWLYHVñý$1'ýRUý25ñýDQGýSDUHQWKHVHVïýý(QWHUýWKHýFRQMXQFWLYHVýLQýWKHý&QMýFROXPQýDQGýHQWHUýWKHýSDUHQWKHVHVýLQýWKHýVSDFHVýSURYLGHGïý7KHQýGLVSOD\ýWKHýTXHXHýZLWKýWKHýPHVVDJHVýWKDWýPHHWý\RXUýFULWHULDï

$FWLRQVãý,ý ý,QVHUWý'ý ý'HOHWHý6ý ý6SHFLI\ý)LHOGýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýõýððððððððððððý)LHOGýðððððððððððððý2Sýððððððððððððý9DOXHýðððððððððððððýôý&QMýýLýBýLQYRLFHVBBBBBBBBBBBBBBBBBBBBBBBBý!ýýìííýýýýýýBBBBBBBBBBBBBBBBBBBBBBBýBýBBBýý

$FWLRQýHQWU\ýFROXPQ

$FWLRQVãý,ý ý,QVHUWý'ý ý'HOHWHý6ý ý6SHFLI\ý)LHOGýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýõýððððððððððððý)LHOGýðððððððððððððý2Sýððððððððððððý9DOXHýðððððððððððððýôý&QMBýBýLQYRLFHVBBBBBBBBBBBBBBBBBBBBBBBBý!BýìííBBBBBBBBBBBBBBBBBBBBBBBBBBBBBýBý25BBýBýSD\PHQWVýýBBBBBBBBBBBBBBBBBBBBBBýáýýèííýýýýýýýýýýýýýBBBBBBBBBBBBBBBBýBýBBB)LOWHUý

H[SUHVVLRQ

)LHOGV 2SHUDWRUV 9DOXHV&RQMXQFWLYHýFROXPQ

,63)

&KDSWHUýììïý)LOWHULQJý0HVVDJHV ìêè

%XLOGLQJýDý)LOWHUýõ,63)ô

n (QWHULQJýH[SUHVVLRQVý

$WýWKHý)LHOGý1DPHýFROXPQñýHQWHUýDýOD\RXWýVSHFLILFDWLRQýDQGýWKHýILHOGýQDPHý\RXýZDQWýWRýVHOHFWýLQýFUHDWLQJýDýILOWHUýH[SUHVVLRQïýý<RXýFDQýHLWKHUýHQWHUýWKHýQDPHVýRIýWKHýOD\RXWýVSHFLILFDWLRQýDQGýILHOGýGLUHFWO\ñýRUýXVHý6SHFLI\ý)LHOGýSDQHOýWRýPDNHý\RXUýHQWU\ïýý

,Iý\RXýHQWHUý)LHOGý1DPHVýGLUHFWO\ýRQýWKHý)LOWHUý0HVVDJHVýGLDORJýER[ñýHQWHUýWKHPýLQýWKHýIRUPãýOD\RXWýVSHFLILFDWLRQãILHOGïýý)RUýH[DPSOHñýWRýVHDUFKýRQýWKHý1DPHýILHOGýRIýWKHý3$7,(17ýOD\RXWýVSHFLILFDWLRQñý\RXýHQWHUý3$7,(17ã1DPHïýýõ7KHý)250$76ýGDWDVHWýVWRUHVýWKHýXVHUðGHILQHGýILHOGVýDQGýIRUPDWVôï

6SHFLI\ý)LHOGV

,Iý\RXýGRýQRWýUHPHPEHUýWKHýILHOGVýDYDLODEOHýIRUýVHDUFKLQJñý\RXýFDQýFKRRVHýIURPýDýOLVWýGLVSOD\HGýLQýWKHý6SHFLI\ý)LOWHUýSDQHOýUDWKHUýWKDQýHQWHULQJýDýILHOGýQDPHýPDQXDOO\ïýý7RýGLVSOD\ýWKHý6SHFLI\ý)LHOGýSDQHOñýHQWHUý6ýLQýWKHý$FWLRQýFROXPQýRIýWKHý0HVVDJHý)LOWHUýSDQHOýRQýWKHýOLQHýZKHUHý\RXýDUHýHQWHULQJýDQýH[SUHVVLRQïýý

7RýVHOHFWýDýOD\RXWýVSHFLILFDWLRQîILHOGýQDPHýFRPELQDWLRQýIURPýWKHý6SHFLI\ý)LHOGýSDQHOñýHQWHUý6ýQH[WýWRýWKHýILHOGýRUýILHOGVý\RXýZDQWýWRýVHOHFWïýý7RýVFUROOýWKURXJKýDGGLWLRQDOýSDJHVýRIýOD\RXWîILHOGýFRPELQDWLRQVñýXVHýWKHý3)åýDQGý3)æýNH\Vïýý7RýHQWHUýWKHýILHOGýQDPHýRUýQDPHVýDQGýH[LWýWKHýVHOHFWLRQýSDQHOñýSUHVVý3)êï

$ýZLOGFDUGýõóôýOD\RXWýVSHFLILFDWLRQýQDPHýLVýDYDLODEOHýLIý\RXýQHHGýWRýHQWHUýDýVHDUFKýH[SUHVVLRQýIRUýYDOXHVýLQýPHVVDJHýGDWDýXQIRUPDWWHGýLQWRýFROXPQVïýý

046HULHVýOD\RXWýVSHFLILFDWLRQýQDPHV,QýDGGLWLRQýWRýWKHýXVHUýGHILQHGýOD\RXWýVSHFLILFDWLRQVýLQý\RXUý)250$76ýGDWDVHWñý\RXýFDQýVHOHFWýRQHýRIýWKHý046HULHVýOD\RXWýVSHFLILFDWLRQýQDPHVñýWKHQýVHOHFWýILHOGýQDPHVýLQýWKDWýOD\RXWýVSHFLILFDWLRQýDVýSDUWýRIý\RXUýVHDUFKýFULWHULDïýý7KHýQDPHVýRIýWKHVHýV\VWHPýOD\RXWýVSHFLILFDWLRQVýXVXDOO\ýVWDUWýZLWKýWKHýFKDUDFWHUVý04ïýýýý

([DPSOHVýRIýILOWHUV

ïðððððððððððððððððððððððððððððððððððððððððððððððððððððððð_ýýýýýýýýýýýýýýýý34(GLWýðý6SHFLI\ý)Lý5RZýæêýWRýåéýRIýìíìý__ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ý6HOHFWýWKHýGHVLUHGý)LHOGýDQGýSUHVVý(QWHUýWRýDSSO\ãýýýýý__ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ýBýýý3$7,(17ã3DWLHQWý,'ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ýBýýý3$7,(17ã1DPHýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ýBýýý3$7,(17ã661XPEHUýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ýVýýý3$7,(17ã7\SHýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ýBýýý3$7,(17ã3DWLHQWý,'ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ýBýýý3$7,(17ã,OOQHVVýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ýBýýý3$7,(17ã7UHDWPHQWýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ýBýýý3$7,(17ã7\SHýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ýBýýý3$7,(17ã3DWLHQWý,'ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ýBýýý3$7,(17ã,QVý&RPSDQ\ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ýVýýý3$7,(17ã3ODQýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ýBýýý3$7,(17ã7\SHýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ý&RPPDQGý !ýýýýýýýýýýýýýýýýýýýýýýýý6FUROOý !ý3$*(ýýý__ýý)ì +HOSýýýý)ê ([LWýýý)ìë &DQFHOýýýýýýýýýýýýýýýýýýýýýýý_�ðððððððððððððððððððððððððððððððððððððððððððððððððððððððð

6HOHFWHGýILHOG

6HOHFWHGýILHOG

%XLOGLQJýDý)LOWHUýõ,63)ô

ìêç &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

7KHýIROORZLQJýDUHýH[DPSOHVýRIýOD\RXWýVSHFLILFDWLRQîILHOGýQDPHýFRPELQDWLRQVý\RXýFDQýHQWHUïý

n 7RýVHDUFKýRQýWKHý,192,&(6ýILHOGýRIýWKHý)07ð,19ýOD\RXWýVSHFLILFDWLRQñý\RXýVHOHFWýWKHýOD\RXWýVSHFLILFDWLRQý)07ð,19ýDQGýWKHý)LHOGý1DPHý,192,&(6âýRUýHQWHUý)07ð,19ã,192,&(6ýDVýWKHý)LHOGý1DPHýRQý)LOWHUýGLDORJýER[ïýõ7KHý)250$76ï,1,ýILOHýVWRUHVýWKHýXVHUðGHILQHGýILHOGVýDQGýOD\RXWýVSHFLILFDWLRQVïôý

n 7RýVHDUFKýRQýWKHý3XW'DWHýILHOGýIURPýWKHýPHVVDJHýGHVFULSWRUñýVHOHFWýWKHýOD\RXWýVSHFLILFDWLRQý0VJ'HVFýDQGýWKHýILHOGýQDPHý3XW'DWHñýRUýHQWHUý0VJ'HVFã3XW'DWHýRQýWKHý)LOWHUýGLDORJýER[ï

(QWHUýDQýRSHUDWRU

,QýWKHý2SýILHOGýRQýWKHý0HVVDJHý)LOWHUýSDQHOñýHQWHUýDýYDOLGýRSHUDWRUýWRýVHOHFWýWKHý)LHOGý1DPHïýý9DOLGýRSHUDWRUVýLQFOXGHýWKHýIROORZLQJã

õHTXDOýWRô

á!ý õQRWýHTXDOýWRô

! õJUHDWHUýWKDQô

áý õOHVVýWKDQô

! ýý õJUHDWHUýWKDQýRUýHTXDOýWRô

á ý õOHVVýWKDQýRUýHTXDOýWRô

(QWHUýDýYDOXH

7\SHýWKHý9DOXHýWRýFRPSDUHýZLWKýLQGLYLGXDOýPHVVDJHVïýý7KHý9DOXHýFRPSOHWHVýWKHýH[SUHVVLRQý\RXýDUHýHQWHULQJýIRUýWKHýILOWHUï

$GGýH[SUHVVLRQVý

3UHVVý(QWHUýWRýDGGýHDFKýH[SUHVVLRQýWRýWKHýILOWHUïýý7RýDGGýDGGLWLRQDOýH[SUHVVLRQVñýHQWHUý,ýLQýWKHý$FWLRQýFROXPQýRQýWKHý0HVVDJHý)LOWHUýSDQHOï

8VHýFRQMXQFWLYHVýRUýSDUHQWKHVHV

7RýOLQNýVHDUFKýH[SUHVVLRQVñýXVHýWKHý$1'ýRUý25ýFRQMXQFWLYHVýWRýFUHDWHýORJLFDOýFRQGLWLRQVýDVýSDUWýRIý\RXUýVHDUFKýILOWHUïýý(QWHUý$1'ýRUý25ýFRQMXQFWLYHVýDWýWKHýHQGýRIýVHDUFKýH[SUHVVLRQVýLQýWKHýOLVWïý

$FWLRQVãý,ý ý,QVHUWý'ý ý'HOHWHý6ý ý6SHFLI\ý)LHOGýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýõýððððððððððððý)LHOGýðððððððððððððý2Sýððððððððððððý9DOXHýðððððððððððððýôý&QMýBýBý3$7,(17ã,QVý&RPSDQ\BBBBBBBBBBBBBý Bý0878$/ý+($/7+BBBBBBBBBBBBBBBBBBBýBý25ýýBýBý3$7,(17ã3ODQBBBBBBBBBBBBBBBBBBBBýá!ýéBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBýBý$1'ýBýõý04'($'ã'/4B3XW'DWHBBBBBBBBBBBBBBý! ýìëîëèîäçBBBBBBBBBBBBBBBBBBBBBBBBýôýýýýý

)LOWHUýH[SUHVVLRQ

)LHOGV 2SHUDWRUV 9DOXHV&RQMXQFWLYHýFROXPQ

&KDSWHUýììïý)LOWHULQJý0HVVDJHV ìêæ

%XLOGLQJýDý)LOWHUýõ,63)ô

1RUPDOO\ñý34(GLWýHYDOXDWHVýFRPSRXQGýILOWHUýH[SUHVVLRQVýLQýWRSðGRZQýVHTXHQFHïý<RXýFDQýDOVRýHQWHUýSDUHQWKHVHVýWRýJURXSýVWDWHPHQWVýLQýPRUHýFRPSOH[ýFRQGLWLRQVïýý6WDWHPHQWVýLQýSDUHQWKHVHVýKDYHýSUHFHGHQFHýLQýUHVROYLQJýVHDUFKýFULWHULDïýý(QWHUýSDUHQWKHVHVýLQýWKHýFROXPQVýSURYLGHGýEHIRUHýWKHý)LHOGýFROXPQýDQGýDIWHUýWKHý9DOXHýFROXPQïýý

,Iý\RXUýILOWHUýFRQWDLQVýRQO\ýRQHýH[SUHVVLRQý\RXýGRýQRWýXVHýFRQMXQFWLYHVýRUýSDUHQWKHVHVï

6\QWD[ý&KHFNLQJ

34(GLWýSHUIRUPVýV\QWD[ýFKHFNLQJýRQýH[SUHVVLRQVý\RXýHQWHUýLQýILOWHUVïýý,WýFKHFNVýWRýPDNHýVXUHýWKDWýSDUHQWKHVHVýDUHýEDODQFHGýDQGý$1'ýDQGý25ýFRQMXQFWLYHVýDUHýLQýWKHýSURSHUýSODFHïýý)LOWHUVýFDQQRWýEHýDSSOLHGýXQOHVVýWKH\ýDUHýV\QWDFWLFDOO\ýFRUUHFWïýý

$IWHUý\RXýHQWHUýWKHýILOWHUñý34(GLWýGLVSOD\VýWKHýTXHXHýZLWKýWKHýPHVVDJHVýWKDWýPHHWý\RXUýFULWHULDïý

n 6DYHýWKHýILOWHU

<RXýPD\ýVDYHýWKHýILOWHUýWRýDýGDWDVHWýE\ýVHOHFWLQJýWKHý8QORDGýILOWHUýWRýDQýH[LVWLQJýGDWDVHWýRSWLRQïýý7KLVýSURFHGXUHýVDYHVýRQO\ýWKHýILOWHUýLWVHOIñýQRWýWKHýILOWHUHGýPHVVDJHVïýý7RýVDYHýWKHýILOWHUHGýPHVVDJHVñýVHOHFWý3)êýõ([LWôýWRýGLVSOD\ýWKHýPHVVDJHVýDQGýXVHýWKHý8QORDGýVHOHFWLRQýIURPýWKHý7RROVýPHQXïýõ)RUýPRUHýLQIRUPDWLRQýVHHý&KDSWHUýìéïýýû8QORDGLQJýDQGý/RDGLQJý4XHXHVûô

34(GLWýORDGVýDQGýXQORDGVýILOWHUVýLQWRýGDWDýVHWVýXVLQJýWKHýVDPHýSDQHOñýWKHý6SHFLI\ý)LOWHUý'DWDý6HWýSDQHOï

7KHý6SHFLI\ý'DWDý6HWýSDQHOýLQFOXGHVýDýILHOGýIRUýHQWHULQJýWKHýQDPHýRIýWKHýGDWDVHWýIRUýWKHýILOWHUã

'DWDVHWý1DPHïýý1DPHýRIýWKHýGDWDVHWý\RXýZDQWýWRýVSHFLI\ïýý7KHýGDWDVHWýPXVWýEHýFDWDORJXHGïýý

n 8VLQJýSUHYLRXVO\ýVDYHGýILOWHUV

,Iý\RXýKDYHýSUHYLRXVO\ýFUHDWHGýDQGýVDYHGýILOWHUVñý\RXýFDQýXVHýWKHý/RDGýILOWHUýIURPýDQýH[LVWLQJýGDWDVHWýVHOHFWLRQýWRýVHOHFWýDýILOWHUýXVLQJýWKHý6SHFLI\ý'DWDý6HWýSDQHOïýý,QýWKLVýFDVHý\RXýHQWHUýWKHý'DWDý6HWý1DPHýLQIRUPDWLRQýWRýDFFHVVýWKHýILOWHUý\RXýVDYHGïý

ïððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððð_ýýýýýýýýýýýýýýýýýýýýý34(GLWýðý6SHFLI\ý)LOWHUý'DWDý6HWýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý3DUWLWLRQHGýRUý6HTXHQWLDOý'DWDý6HWãýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýý'DWDý6HWý1DPHýïýïýïýïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý&RPPDQGý !ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýý)ì +HOSýýýýý)ê ([LWýýýý)ìë &DQFHOýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý�ððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððð

+RZýWRý%XLOGýDý)LOWHUýõ,63)ô

ìêå &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

+RZýWRý%XLOGýDý)LOWHUýõ,63)ô

7KHýIROORZLQJýSURFHGXUHýSURYLGHVýDýVWHSðE\ðVWHSýGHVFULSWLRQýRIýKRZýWRýEXLOGýDýILOWHUýIRUýVHDUFKLQJýIRUýPHVVDJHVýLQý34(GLWýXQGHUý,63)ï

6WHSýìï 2SHQýDýTXHXHýLQý34(GLWïýý7KHý34(GLWý4XHXHýSDQHOýDSSHDUVï

6WHSýëï &KRRVHý)LOWHUýIURPýWKHý6HDUFKýPHQXïýýõ2UýHQWHUý),/ýIURPýWKHýFRPPDQGýOLQHïôýý7KHý34(GLWý0HVVDJHý)LOWHUVýSDQHOýDSSHDUVïýýý

(QWHUýWKHýILHOGýQDPHýIRUýDýILOWHUýH[SUHVVLRQýLQýWKHýIRUPDWãý

OD\RXWýVSHFLILFDWLRQãILHOGý

,Iý\RXýGRýQRWýNQRZýWKHýILHOGýQDPHñýXVHýWKHý6ýFRPPDQGýWRýGLVSOD\ýWKHý6SHFLI\ý)LHOGýSDQHOýWRýVHOHFWýWKHýOD\RXWýVSHFLILFDWLRQýDQGýILHOGý\RXýZDQWýIRUýWKHýILHOGï

6WHSýêï (QWHUýDýYDOLGý2SHUDWRUýIRUýVHOHFWLQJýWKHýPHVVDJHVïý7KHýYDOLGýRSHUDWRUVýDUHãýý

õHTXDOýWRôý

á!ý õQRWýHTXDOýWRô

! õJUHDWHUýWKDQôó

áý õOHVVýWKDQôó

! õJUHDWHUýWKDQýRUýHTXDOýWRôó

á õOHVVýWKDQýRUýHTXDOýWRôóó2SHUDWRUýLVýXVHGýIRUýQXPHULFýILHOGVýRQO\ï

6WHSýéï 7\SHýWKHý9DOXHý\RXýZDQWýWRýFRPSDUHýZLWKýLQGLYLGXDOýPHVVDJHVïýý7KLVý9DOXHýFRPSOHWHVýWKHýH[SUHVVLRQý\RXýDUHýHQWHULQJýIRUýWKHýILOWHUï

6WHSýèï 3UHVVý(QWHUýWRýHQWHUýWKHýVHDUFKýH[SUHVVLRQïýý&RQWLQXHýWRýDGGýDGGLWLRQDOýH[SUHVVLRQVñýDVýQHHGHGñýXVLQJý$1'ñý25ýDQGýSDUHQWKHVHVï

6WHSýçï 7RýVDYHý\RXUýILOWHUñýVHOHFWý8QORDGýILOWHUýWRýDQýH[LVWLQJýGDWDVHWï

6WHSýæï &RPSOHWHýWKHý6SHFLI\ý'DWDý6HWýSDQHOýDQGýWKHQýSUHVVý3)êýõ([LWôï

6WHSýåï 7RýXVHý\RXUýILOWHUýDQGýH[LWýIURPýWKHý0HVVDJHý)LOWHUýSDQHOñýSUHVVý3)êýõ([LWôýDQGýUHYLHZýWKHýVHOHFWHGýPHVVDJHVýLQýWKHý4XHXHýZLQGRZï

,63)

&DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH ìêä

&KDSWHUýìëï&UHDWLQJýDý1HZý4XHXH

,QWURGXFWLRQ

7KLVýFKDSWHUýGHVFULEHVýKRZý\RXýFUHDWHýQHZýTXHXHVýZLWKý34(GLWýRSHUDWLQJýLQýDý*8,ýHQYLURQPHQWïýý,WýLQFOXGHVýDýGHVFULSWLRQýRIýWKHý1HZý4XHXHýGLDORJýER[ýDQGýWKHýSURSHUWLHVý\RXýGHILQHýIRUýYDULRXVýTXHXHýW\SHVï

1RWHã34(GLWýGRHVýQRWýLQFOXGHýWKHý1HZý4XHXHýFRPPDQGýXQGHUý,63)ïýý7RýFUHDWHýDýQHZýTXHXHýZKHQýRSHUDWLQJýLQýDQý096ýHQYLURQPHQWñýXVHýWKHý762ý&6425(;;ýFRPPDQGýLQý046HULHVïý)RUýPRUHýLQIRUPDWLRQýVHHýWKHý,%0ý046HULHVýIRUý096î(6$ý6\VWHPý0DQDJHPHQWý*XLGHýõ6&êêðíåíçðíêô

&KDSWHUý&RQWHQWV

1HZý4XHXHý&RPPDQG ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìéí1HZý4XHXHýGLDORJýER[ ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìéí2WKHUý4XHXHý3URSHUWLHV ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìéì&UHDWHýWKHýTXHXH ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìéë

2WKHUý4XHXHý3URSHUWLHVýðý/RFDOýDQGý0RGHOý4XHXHVïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìéê/RFDOýõRUý0RGHOôý4XHXHý3URSHUWLHVýGLDORJýER[ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìéê

2WKHUý4XHXHý3URSHUWLHVýðý$OLDVïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìéä$OLDVý4XHXHýGLDORJýER[ ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìéä

2WKHUý4XHXHý3URSHUWLHVýðý5HPRWHïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìèí5HPRWHý4XHXHýGLDORJýER[ ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìèí

+RZýWRý&UHDWHýDý1HZý4XHXH ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìèì

ìë

1HZý4XHXHý&RPPDQG

ìéí &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

1HZý4XHXHý&RPPDQG

8VHýWKHý1HZý4XHXHýFRPPDQGýWRýFUHDWHýDýQHZýTXHXHýLQý34(GLWïýý<RXýDFFHVVýWKHý1HZý4XHXHýFRPPDQGýIURPýWKHý34(GLWý)LOHýPHQXïýý1HZý4XHXHýGLVSOD\VýWKHý1HZý4XHXHýGLDORJýER[ýXVHGýWRýHQWHUýWKHýSURSHUWLHVýRIýWKHýPHVVDJHýTXHXHï

n 1HZý4XHXHýGLDORJýER[

8VHýWKHý1HZý4XHXHýGLDORJýER[ýWRýHQWHUýWKHýQDPHýRIýDýTXHXHýPDQDJHUñýLGHQWLI\ýWKHýQHZýTXHXHñýDQGýGHILQHýDWWULEXWHVýIRUýWKHýTXHXHýEDVHGýRQýWKHýTXHXHýW\SHýVHOHFWHGïýý<RXýPD\ýUHYLHZýRUýFKDQJHýGHIDXOWýTXHXHýSURSHUWLHVýRUýDFFHSWýWKHýGHIDXOWVýLQýFUHDWLQJý\RXUýQHZýTXHXHï

,GHQWLI\ý\RXUýTXHXH

(QWHUýWKHýQHZý4XHXHý1DPHñýWKHQýHQWHUýDý4XHXHý0DQDJHUýQDPHýRUýVHOHFWýDýUHFHQWO\ýXVHGýTXHXHýPDQDJHUýIURPýWKHýGURSGRZQýOLVWïý7KHýGURSðGRZQýUHWDLQVýWKHýODVWýILYHýTXHXHýPDQDJHUVý\RXýFRQQHFWHGýWRïýý,Iý\RXUýTXHXHýQDPHýLVýORFDWHGýLQýWKHýGHIDXOWýTXHXHýPDQDJHUñý\RXýFDQýOHDYHýWKHý4XHXHý0DQDJHUýILHOGýEODQNï

1H[Wñý\RXýPD\ýHQWHUýDý'HVFULSWLRQýõRSWLRQDOôïýý7RýXVHýDWWULEXWHVýIURPýDQýH[LVWLQJýTXHXHýLQýFUHDWLQJý\RXUýQHZýTXHXHñýHQWHUýWKHýTXHXHýQDPHýDWýWKHý/LNHýILHOGïýý(QWHULQJýWH[WýLQýWKHý/LNHýILHOGýJUD\VýRXWýWKHýTXHXHýSURSHUW\ýVHOHFWLRQVï

*8,

&KDSWHUýìëïý&UHDWLQJýDý1HZý4XHXH ìéì

1HZý4XHXHý&RPPDQG

4XHXHý7\SHý

6HOHFWýWKHýW\SHýRIýTXHXHýIURPýWKHýOLVWýRIý4XHXHý7\SHVïýý7KHýW\SHýRIýTXHXHý\RXýHQWHUýGHWHUPLQHVýZKDWýRWKHUýTXHXHýSURSHUWLHVýDUHýQHHGHGýWRýGHILQHýWKLVýTXHXHï

5HSODFH

6HOHFWýWKHý5HSODFHýER[ýLIýDQ\ýH[LVWLQJýTXHXHýGHILQLWLRQýZLWKýWKHýVDPHýQDPHýLVýWRýEHýUHSODFHGýZLWKýWKLVýRQHï

&RPPRQý4XHXHý3URSHUWLHV

7KHý1HZý4XHXHýGLDORJýER[ýVKRZVýDýJURXSýRIýTXHXHýSURSHUWLHVýFRPPRQýWRýDOOýTXHXHýW\SHVïý

7KHý4XHXHý3URSHUWLHVý\RXýPD\ýVHWýDUHã

n 'HIDXOWý3ULRULW\ýðý(QWHUýRUýVHOHFWýWKHýGHIDXOWýSULRULW\ýRIýPHVVDJHVýSXWýRQýWKHýTXHXHïý7KHýPD[LPXPýSULRULW\ýLVýäïý

n 3HUVLVWHQWý0VJVýðý6HOHFWýWKLVýER[ýLIýWKHýPHVVDJHVýRQýWKLVýTXHXHýDUHýWRýVXUYLYHýDýUHVWDUWýRIýWKHýTXHXHýPDQDJHUï

n 3XWý(QDEOHGýðý6HOHFWýWKLVýER[ýLIýPHVVDJHVýFDQýEHýDGGHGýWRýWKHýTXHXHïý7KLVýLVýWKHýGHIDXOWï

n 2WKHUý4XHXHý3URSHUWLHVý

7KHý2WKHUý4XHXHý3URSHUWLHVýEXWWRQýGLVSOD\VýDýGLDORJýER[ýFRQWDLQLQJýDGGLWLRQDOýTXHXHýSURSHUWLHVýIRUýWKHýTXHXHýW\SHý\RXýVHOHFWHGïýý7KHýSURSHUWLHVýDUHýLQLWLDOO\ýVHWýWRý

1HZý4XHXHý&RPPDQG

ìéë &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

046HULHVýGHIDXOWýYDOXHVñýKRZHYHUýWKH\ýPD\ýGLIIHUýIURPýGHIDXOWVýHVWDEOLVKHGýIRUý\RXUýLQVWDOODWLRQïýý&DUHIXOO\ýUHYLHZýWKHýRSWLRQVýVHOHFWHGýWKHýILUVWýWLPHý\RXýXVHýWKHý2WKHUý3URSHUWLHVýGLDORJVýDVVRFLDWHGýZLWKýHDFKýTXHXHï

7KHý2WKHUý4XHXHý3URSHUWLHVýEXWWRQýIRUý/RFDOýDQGý0RGHOýTXHXHVýGLVSOD\VýLGHQWLFDOýILHOGVïý7KHý/RFDOýDQGý0RGHOý4XHXHý3URSHUWLHVýGLDORJýER[HVýXVHýDýWDEXODUýIRUPDWýWRýDFFRPPRGDWHýWKHýSURSHUWLHVýIRUýWKHVHýTXHXHýW\SHVïýý)RUýPRUHýLQIRUPDWLRQñýVHHýWKHýQH[WýWRSLFñýû2WKHUý4XHXHý3URSHUWLHVýðý/RFDOýDQGý0RGHOý4XHXHVïû

'HIDXOWýSURSHUWLHV

,Iý\RXýGRýQRWýYLHZýWKHý3URSHUWLHVýGLDORJýIRUýWKHýTXHXHýW\SHý\RXýDUHýFUHDWLQJñýWKHýDWWULEXWHVýDUHýQRWýVHQWýWRýWKHýTXHXHýPDQDJHUïýý,QVWHDGñýWKHýTXHXHýPDQDJHUýVXEVWLWXWHVýGHIDXOWýDWWULEXWHVñýVRPHýRIýZKLFKýPD\ýEHýVSHFLILFýWRý\RXUýLQVWDOODWLRQïýý,Iý\RXýYLHZýDýSURSHUWLHVýGLDORJñýDOOýFRQWUROVýDUHýSUHVHWýWRýWKHýVWDQGDUGý046HULHVýGHIDXOWýZKLFKýPD\ýGLIIHUýIURPýWKHýVWDQGDUGýVHWWLQJýRQýVRPHýSODWIRUPVýDQGýVRPHýLQVWDOODWLRQVïýý2QFHý\RXýYLHZýWKHýRWKHUýTXHXHýSURSHUWLHVñýDOOýRIýWKHýDWWULEXWHVýIRUýDýGLDORJýDUHýVHQWýWRýWKHýTXHXHýPDQDJHUñýZKHWKHUý\RXýPDGHýDQ\ýFKDQJHVýRUýQRWïýý)RUýWKLVýUHDVRQñý\RXýPXVWýEHýDZDUHýRIýWKHýSURSHUW\ýSUHVHWVýDQGýPDNHýDQ\ýFKDQJHVýQHFHVVDU\ýWRýFRQIRUPýWRýLQVWDOODWLRQýQRUPVïý

n &UHDWHýWKHýTXHXH

$IWHUýHQWHULQJýDOOýWKHýLQIRUPDWLRQýIRUý\RXUýQHZýTXHXHñýFOLFNýRQýWKHý&UHDWHýEXWWRQýWRýFUHDWHýWKHýTXHXHïýý,QýPRVWýFDVHVý\RXýHQWHUýRUýPRGLI\ýDýVPDOOýQXPEHUýRIýWKHýSURSHUWLHVýDQGýOHDYHýPRVWýRIýWKHýGHIDXOWýSURSHUW\ýYDOXHVýDVýLVï

&KDSWHUýìëïý&UHDWLQJýDý1HZý4XHXH ìéê

2WKHUý4XHXHý3URSHUWLHVýðý/RFDOýDQGý0RGHOý4XHXHV

2WKHUý4XHXHý3URSHUWLHVýðý/RFDOýDQGý0RGHOý4XHXHV

7KLVýWRSLFýLQFOXGHVýGHWDLOHGýLQIRUPDWLRQýRQýWKHý2WKHUý4XHXHý3URSHUWLHVýGLDORJýER[ýXVHGýWRýFUHDWHý/RFDOýDQGý0RGHOý4XHXHVï

n /RFDOýõRUý0RGHOôý4XHXHý3URSHUWLHVýGLDORJýER[

7KHý/RFDOýõRUý0RGHOôý4XHXHý3URSHUWLHVýGLDORJýER[ýLVýXVHGýZKHQýFUHDWLQJýTXHXHVýIRUýORFDOýRUýPRGHOýTXHXHýW\SHVïýý,WýLVýDýWDEXODUýZLQGRZýZLWKýIRXUýSDJHVýRIýSURSHUWLHVã

n *HQHUDOý

n 7ULJJHUý&RQGLWLRQV

n (YHQWý&RQWURO

n %DFNRXWý5HSRUWLQJ

&OLFNýRQýWKHýUHTXLUHGýWDEýDQGýPDNHý\RXUýVHOHFWLRQVïýý$IWHUý\RXýPDNHýVHOHFWLRQVýIRUýDOOýWKHýWDEVñý\RXýFDQýFOLFNý2.ýWRýUHWXUQýWRýWKHý1HZý4XHXHýGLDORJýER[ïýý6HHýWKHý,%0ý046HULHVý&RPPDQGý5HIHUHQFHýõ6&êêðìêçäôýIRUýPRUHýLQIRUPDWLRQýRQýTXHXHýSURSHUWLHVý\RXýGHILQHýIRUýORFDOýRUýPRGHOýTXHXHVï

*HQHUDOý3URSHUWLHVýWDE

7KHýILUVWýWDEýLQýDý/RFDOýõRUý0RGHOôý4XHXHý3URSHUWLHVýGLDORJýER[ýFRQWDLQVýSURSHUWLHVýXVHGýWRýFUHDWHý/RFDOýDQGý0RGHOýTXHXHVï

*HQHUDOýWDEýLVVHOHFWHGï

2WKHUý4XHXHý3URSHUWLHVýðý/RFDOýDQGý0RGHOý4XHXHV

ìéé &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

7KHýJHQHUDOýSURSHUWLHVý\RXýVHWýIRUý/RFDOýDQGý0RGHOý4XHXHVýLQFOXGHýWKHýIROORZLQJã

n 0HVVDJHý'HOLYHU\ý6HTXHQFHýðý6HOHFWý3ULRULW\ýLIýPHVVDJHVýDUHýGHOLYHUHGýLQýILUVWðLQîILUVWðRXWýõ),)2ôýRUGHUýZLWKLQýSULRULW\ïý3ULRULW\ýLVýWKHýGHIDXOWïýý6HOHFWý),)2ýLIýPHVVDJHVýDUHýGHOLYHUHGýLQý),)2ýRUGHUïýý,Iý\RXýVHOHFWý),)2ñýSULRULW\ýLVýLJQRUHGýRQýWKLVýTXHXHï

n 6KDUHý2SWLRQýðý7KLVýGHILQHVýWKHýGHIDXOWýVKDUHýRSWLRQýIRUýDSSOLFDWLRQVýRSHQLQJýWKHýQHZýTXHXHýIRUýLQSXWïýý6HOHFWý6KDUHGýLIýWKHýRSHQýUHTXHVWýLVýIRUýVKDUHGýLQSXWýIURPýWKHýTXHXHñýRUý([FOXVLYHýLIýWKHýRSHQýUHTXHVWýLVýIRUýH[FOXVLYHýLQSXWýIURPýWKHýTXHXHï

n ',67/ý6XSSRUWýõ04ý9èý40*56ýRQO\ôýðý7KLVýDWWULEXWHýLVýQRUPDOO\ýXVHGýRQýWUDQVPLVVLRQýTXHXHVýWRýLQGLFDWHýZKHWKHUýGLVWULEXWLRQýOLVWVýDUHýVXSSRUWHGýE\ýWKHýSDUWQHUýTXHXHýPDQDJHUïý1RWHãý<RXýVKRXOGýQRWýQRUPDOO\ýFKDQJHýWKLVýDWWULEXWHñýEHFDXVHýLWýLVýVHWýE\ýWKHý0&$ïý

n *HWý(QDEOHGýðý6HOHFWýWKLVýER[ýLIýDSSOLFDWLRQVýDUHýSHUPLWWHGýWRýJHWýPHVVDJHVýIURPýWKLVýQHZýTXHXHï

n 3HUPLWý6KDUHý$FFHVVýðý6HOHFWýWKLVýER[ýLIýPRUHýWKDQýRQHýDSSOLFDWLRQýLQVWDQFHýFDQýJHWýPHVVDJHVýIURPýWKHýTXHXHý\RXýDUHýFUHDWLQJï

n 8VDJHýðý6HOHFWý1RUPDOýLIýWKHýTXHXHýLVýQRWýDýWUDQVPLVVLRQýTXHXHñýRUý;PLW4ýLIýWKHýTXHXHýLVýDýWUDQVPLVVLRQýTXHXHïýý7UDQVPLVVLRQýTXHXHVýDUHýXVHGýWRýKROGýPHVVDJHVýWKDWýDUHýGHVWLQHGýIRUýDýUHPRWHýTXHXHýPDQDJHUï

n 6FRSHýõ/RFDOý4XHXHVýRQO\ôýðý6HOHFWý4ý0JUýLIýWKHýQHZýTXHXHýGHILQLWLRQýKDVýTXHXHýPDQDJHUýVFRSHñýPHDQLQJýWKHýGHILQLWLRQýRIýWKHýTXHXHýGRHVýQRWýH[WHQGýEH\RQGýWKHýTXHXHýPDQDJHUýWKDWýRZQVýLWïý6HOHFWý&HOOýLIýWKHýTXHXHýGHILQLWLRQýKDVýFHOOýVFRSHñýPHDQLQJýWKDWýWKHýTXHXHýLVýNQRZQýWRýDOOýRIýWKHýTXHXHýPDQDJHUVýLQýDýFHOOï

n 7\SHýõ0RGHOý4XHXHVýRQO\ôýðý6HOHFWý3HUPýLIýWKHýTXHXHýGHILQLWLRQýW\SHýFUHDWHVýDýSHUPDQHQWýG\QDPLFýTXHXHýZKHQýDQýDSSOLFDWLRQýLVVXHVýDQý0423(1ý$3,ýFDOOýZLWKýWKHýQDPHýRIýWKLVýPRGHOýTXHXHýVSHFLILHGýLQýWKHýREMHFWýGHVFULSWRUïý6HOHFWý7HPSýLIýDýWHPSRUDU\ýG\QDPLFýTXHXHýLVýFUHDWHGýZKHQýWKHýDSSOLFDWLRQýLVVXHVýWKHý0423(1ý$3,ýFDOOï

n 0D[ý4XHXHý'HSWKýðý(QWHUýWKHýPD[LPXPýQXPEHUýRIýPHVVDJHVýDOORZHGýRQýWKHýTXHXHïý

n 0D[ý0VJý/HQJWKýð(QWHUýWKHýPD[LPXPýOHQJWKýRIýPHVVDJHVýRQýWKHýTXHXHï

n 5HWHQWLRQý,QWHUYDOýðý7KHýQXPEHUýRIýKRXUVýIURPýWKHýTXHXHýFUHDWLRQýGDWHýDQGýWLPHýDIWHUýZKLFKýWKHýTXHXHýLVýQRýORQJHUýQHHGHGï

n 6WRUDJHý&ODVVýõ096î(6$ýRQO\ôýðý(QWHUýDQýLQVWDOODWLRQðGHILQHGýQDPHýIRUýWKHýVWRUDJHýFODVVïý7KHýVWRUDJHýFODVVýGHILQHVýWKHýSDJHýVHWýWKDWýLVýWRýKROGýWKHýPHVVDJHVýIRUýWKHýTXHXHïý7KHýVWRUDJHýFODVVýLVýVSHFLILHGýZKHQýWKHýTXHXHýLVýGHILQHGï

n ,QGH[ý7\SHýõ096î(6$ýRQO\ôýðý7KHýW\SHýRIýLQGH[ýPDLQWDLQHGýE\ýWKHýTXHXHýPDQDJHUýWRýH[SHGLWHý04*(7ýRSHUDWLRQVýRQýWKHýTXHXHïý9DOLGýYDOXHVýDUHý121(ñý06*,'ýDQGý&255(/,'ïý

7ULJJHUý&RQGLWLRQVýWDE

&KDSWHUýìëïý&UHDWLQJýDý1HZý4XHXH ìéè

2WKHUý4XHXHý3URSHUWLHVýðý/RFDOýDQGý0RGHOý4XHXHV

7KHýVHFRQGýWDEýLQýWKHý/RFDOýõRUý0RGHOôý4XHXHý3URSHUWLHVýGLDORJýER[ýOHWVý\RXýVHWýWULJJHUýFRQGLWLRQVýWKDWýDSSO\ýWRý/RFDOýRUý0RGHOýTXHXHVïýý7ULJJHULQJýLQý046HULHVýDOORZVýWKHýWULJJHUýPRQLWRUýWRýVWDUWýDQýDSSOLFDWLRQýDXWRPDWLFDOO\ýZKHQýDýWULJJHUýPHVVDJHýLVýUHFHLYHGï

7KHý7ULJJHUýFRQGLWLRQVý\RXýVHWýIRUý/RFDOýDQGý0RGHOý4XHXHVý\RXýFUHDWHñýLQFOXGHýWKHýIROORZLQJã

n $FWLYDWHý7ULJJHULQJýðý6HOHFWýWKLVýER[ýWRýDFWLYDWHýWULJJHULQJýDQGýFDXVHýWULJJHULQJýPHVVDJHVýWRýEHýZULWWHQýWRýWKHýLQLWLDWLRQýTXHXHï

n 7ULJJHUý7\SHýðý6HOHFWýRQHýRIýWKHýWULJJHUýW\SHVýWRýGHILQHýZKHWKHUýDQGýXQGHUýZKDWýFRQGLWLRQVýDýPHVVDJHýLVýZULWWHQýWRýWKHýLQLWLDWLRQýTXHXHïýý$ýWULJJHUýW\SHýRIý)LUVWýLVýXVHGýZKHQýWKHýILUVWýPHVVDJHýDUULYLQJýRQýWKHýTXHXHýVKRXOGýFDXVHýWKHýJHQHUDWLRQýRIýDýWULJJHUýPHVVDJHâýý(YHU\ýLVýXVHGýZKHQýHYHU\ýDUULYLQJýPHVVDJHýVKRXOGýJHQHUDWHýDýWULJJHUýPHVVDJHâýDQGý'HSWKýLVýXVHGýLIýWULJJHULQJýRFFXUVýZKHQýWKHýQXPEHUýRIýTXHXHGýPHVVDJHVýLVýHTXDOýWRýWKHýQXPEHUýVSHFLILHGýLQý7ULJJHUý'HSWKï

n 7ULJJHUý'HSWKýðý,Iý\RXýVHOHFWHGý'HSWKýIRUýWKHý7ULJJHUý7\SHñýHQWHUýWKHýQXPEHUýRIýWULJJHULQJýPHVVDJHVýUHTXLUHGýEHIRUHýDýPHVVDJHýLVýZULWWHQýWRýWKHýLQLWLDWLRQýTXHXHï

n 7ULJJHUý0HVVDJHý3ULRULW\ýðý7KHýPHVVDJHýSULRULW\ýQXPEHUýWKDWýZLOOýWULJJHUýWKLVýTXHXHïý7KHýPD[LPXPýSULRULW\ýLVýäï

n ,QLWLDWLRQý4XHXHýðý(QWHUýWKHýQDPHýRIýDýORFDOýTXHXHýWRýZKLFKýWULJJHUýPHVVDJHVýUHODWLQJýWRýWKLVýTXHXHýDUHýZULWWHQïýý7KHýWULJJHUýPHVVDJHVýLQGLFDWHýWKDWýDýWULJJHUýHYHQWýKDVýRFFXUUHGï

7ULJJHUý&RQGLWLRQVýWDEýLVýVHOHFWHGï

2WKHUý4XHXHý3URSHUWLHVýðý/RFDOýDQGý0RGHOý4XHXHV

ìéç &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

n 3URFHVVý1DPHýðý(QWHUýWKHýORFDOýQDPHýRIýWKHý046HULHVýSURFHVVïýý7KLVýLVýWKHýQDPHýRIýDýSURFHVVýLQVWDQFHýLGHQWLI\LQJýWKHýDSSOLFDWLRQýVWDUWHGýZKHQýDýWULJJHUýHYHQWýRFFXUVï

n 7ULJJHUý'DWDýðý(QWHUýWKHýGDWDýWKDWýLVýLQVHUWHGýLQýWKHýWULJJHUýPHVVDJHïýý7KHýPD[LPXPýOHQJWKýRIýWKLVýVWULQJýLVýçéýE\WHVï

(YHQWý&RQWUROýWDE

7KHýWKLUGýWDEýLQýWKHý/RFDOýõRUý0RGHOôý4XHXHýGLDORJýER[ýOHWVý\RXýVHWýSURSHUWLHVýWRýFRQWUROýHYHQWVýWKDWýPD\ýEHýJHQHUDWHGïýý(YHQWVýFDXVHýDýVSHFLDOýPHVVDJHýWRýEHýJHQHUDWHGýE\ýDýTXHXHýPDQDJHUýZKHQHYHUýDýSUHVHWýFRQGLWLRQýRFFXUVýZLWKLQýWKHýTXHXHïý

7KHý(YHQWý&RQWUROýSURSHUWLHVý\RXýFDQýVHWýIRUýWKHý/RFDOýRUý0RGHOý4XHXHVý\RXýFUHDWHñýLQFOXGHýWKHýIROORZLQJã

n 4XHXHý)XOOýðý6HOHFWýWKLVýER[ýWRýJHQHUDWHý4XHXHý)XOOïý$ý4XHXHý)XOOýHYHQWýRFFXUVýZKHQýDýPHVVDJHýLVýUHMHFWHGýEHFDXVHýWKHýTXHXHýKDVýUHDFKHGýLWVýPD[LPXPýGHSWKýVSHFLILHGï

n 8SSHUý4XHXHý'HSWKýðý6HOHFWýWKLVýER[ýLIý4XHXHý'HSWKý+LJKýHYHQWVýVKRXOGýEHýJHQHUDWHGïýý$ý4XHXHý'HSWKý+LJKýHYHQWýRFFXUVýZKHQýDQýDSSOLFDWLRQýSXWVýDýPHVVDJHýRQýDýTXHXHýZKLFKýFDXVHVýWKHýQXPEHUýRIýPHVVDJHVýWRýHTXDOýRUýH[FHHGýWKHý8SSHUý4XHXHý'HSWKý7KUHVKROGïýý

n ,Iý\RXýVHOHFWý8SSHUý4XHXHý'HSWKñýHQWHUýWKHý7KUHVKROGýDVýDýSHUFHQWDJHýRIýWKHýPD[LPXPýTXHXHýGHSWKïýý)RUýH[DPSOHñýDý7KUHVKROGýRIýæíýPHDQVýWKDWýLIýDýTXHXHýGHSWKýUHDFKHVýæíýSHUFHQWýRIýWKHý0D[ý4XHXHý'HSWKýVSHFLILHGýRQýWKHý*HQHUDOýSURSHUWLHVýWDEñýDý4XHXHý'HSWKý+LJKýHYHQWýLVýJHQHUDWHGïýý7KHýGHIDXOWý8SSHUý4XHXHý'HSWKýLVýåíï

(YHQWý&RQWUROýWDEýLVýVHOHFWHGï

&KDSWHUýìëïý&UHDWLQJýDý1HZý4XHXH ìéæ

2WKHUý4XHXHý3URSHUWLHVýðý/RFDOýDQGý0RGHOý4XHXHV

n /RZHUý4XHXHý'HSWKýðý6HOHFWýWKLVýER[ýLIý4XHXHý'HSWKý/RZýHYHQWVýVKRXOGýEHýJHQHUDWHGïýý$ý4XHXHý'HSWKý/RZýHYHQWýRFFXUVýZKHQýDQýDSSOLFDWLRQýJHWVýDýPHVVDJHýIURPýDýTXHXHýWKDWýFDXVHVýWKHýQXPEHUýRIýPHVVDJHVýWRýHTXDOýRUýIDOOýEHORZýWKHý/RZHUý4XHXHý'HSWKý7KUHVKROGïýý

n ,Iý\RXýVHOHFWý/RZHUý4XHXHý'HSWKñýHQWHUýWKHý7KUHVKROGýDVýDýSHUFHQWDJHýRIýWKHýPD[LPXPýTXHXHýGHSWKïýý)RUýH[DPSOHñýDý7KUHVKROGýRIýìèýPHDQVýWKDWýLIýDýTXHXHýGHSWKýUHDFKHVýìèýSHUFHQWýRIýWKHý0D[ý4XHXHý'HSWKýVSHFLILHGýRQýWKHý*HQHUDOýSURSHUWLHVýWDEýDý4XHXHý'HSWKý/RZýHYHQWýRFFXUVïýý7KHýGHIDXOWý/RZHUý4XHXHý'HSWKýLVýéíï

n 6HUYLFHý,QWHUYDOýðý6HOHFWýDýVHUYLFHýLQWHUYDOýW\SHïý,Iý\RXýVHOHFWý6HUYLFHý,QWHUYDOý+LJKñýDQý04,14ýIURPýDQýDSSOLFDWLRQýLQGLFDWHVýWKDWýQRýPHVVDJHVýKDYHýEHHQýUHWULHYHGýIURPýWKHýTXHXHýIRUýDýWLPHý\RXýVSHFLILHGâý6HUYLFHý,QWHUYDOý2.ýLQGLFDWHVýWKDWýPHVVDJHVýKDYHýEHHQýUHWULHYHGýIRUýWKHýTXHXHýZLWKLQýWKHýWLPHýVSHFLILHGïý6HOHFWý1RQHñý+LJKñýRUý2.ïý,Iý\RXýVHOHFWý+LJKýRUý2.ñýHQWHUýDýYDOXHýLQýXQLWVýRIýPLOOLVHFRQGVýWKDWýLVýJUHDWHUýWKDQý]HURñýDQGýOHVVýWKDQýRUýHTXDOýWRýäääääääääï

%DFNRXWý5HSRUWLQJýWDE

7KHýODVWýWDEýLQýWKHý/RFDOýõRUý0RGHOôý4XHXHýGLDORJýER[ýOHWVý\RXýVHWýSURSHUWLHVýWRýPDQDJHý%DFNRXWý5HSRUWLQJïýý$ýEDFNRXWýUHYHUVHVýFKDQJHVýPDGHýGXULQJýWKHýFXUUHQWýXQLWýRIýUHFRYHU\ýRUýXQLWýRIýZRUNïý

7KHý%DFNRXWý5HSRUWLQJýSURSHUWLHVý\RXýFDQýVHWýIRUýWKHý/RFDOýRUý0RGHOý4XHXHVýLQFOXGHýWKHýIROORZLQJã

%DFNRXWý5HSRUWLQJýWDEýLVýVHOHFWHGï

2WKHUý4XHXHý3URSHUWLHVýðý/RFDOýDQGý0RGHOý4XHXHV

ìéå &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

n +DUGHQý%DFNRXWý&RXQWHUýðý6HOHFWýWKLVýER[ýWRýKDUGHQýWKHýEDFNRXWýFRXQWHUïý+DUGHQLQJýHQVXUHVýWKDWýWKHýFRXQWýRIýWKHýQXPEHUýRIýWLPHVýWKDWýDýPHVVDJHýKDVýEHHQýEDFNHGýRXWýLVýDFFXUDWHïý7KHýEDFNRXWýFRXQWýLQGLFDWHVýWKHýQXPEHUýRIýWLPHVýDýPHVVDJHýKDVýEHHQýWDNHQýIURPýWKHýTXHXHýXQGHUýV\QFSRLQWýDQGýWKHQýEDFNHGýRXWï

n %DFNRXWý7KUHVKROGýðý(QWHUýDýYDOXHýIURPý]HURýWRýäääääääääýWRýLQGLFDWHýWKHýQXPEHUýRIýWLPHVýDýPHVVDJHýFDQýEHýEDFNHGýRXWýEHIRUHýLWýLVýWUDQVIHUUHGýWRýWKHýEDFNRXWýTXHXHýVSHFLILHGýLQýWKHý%DFNRXWý5H4XHXHý1DPHýILHOGïý

n %DFNRXWý5H4XHXHý1DPHýðý(QWHUýWKHýQDPHýRIýWKHýTXHXHýõQRWýQHFHVVDULO\ýDýORFDOýTXHXHôýWRýZKLFKýDýPHVVDJHýLVýWUDQVIHUUHGýLIýLWýLVýEDFNHGýRXWýPRUHýWLPHVýWKDQýWKHý%DFNRXWý7KUHVKROGýYDOXHýHQWHUHGï

&KDSWHUýìëïý&UHDWLQJýDý1HZý4XHXH ìéä

2WKHUý4XHXHý3URSHUWLHVýðý$OLDV

2WKHUý4XHXHý3URSHUWLHVýðý$OLDV

7KHý$OLDVý4XHXHýGLDORJýER[ýLVýDFFHVVHGýIURPý2WKHUý4XHXHý3URSHUWLHVýEXWWRQýZKHQý\RXýDUHýFUHDWLQJýDOLDVýTXHXHVï

n $OLDVý4XHXHýGLDORJýER[

$IWHUýVHOHFWLQJýWKHý$OLDVý4XHXHýDQGýFOLFNLQJýRQýWKHý2WKHUý4XHXHý3URSHUWLHVýEXWWRQñýZKHQýFUHDWLQJýDOLDVýTXHXHVñýWKHý$OLDVý4XHXHýGLDORJýER[ýDSSHDUVï

7KHý$OLDVý4XHXHýSURSHUWLHVý\RXýFDQýVHWýIRUýWKHýDOLDVýTXHXHVý\RXýFUHDWHýLQFOXGHýWKHýIROORZLQJã

n *HWý(QDEOHGýðý6HOHFWýWKLVýER[ýLIýDSSOLFDWLRQVýDUHýSHUPLWWHGýWRýJHWýPHVVDJHVýIURPýWKLVýQHZýTXHXHï

n 6FRSHýðý6HOHFWý4ý0JUýLIýWKHýTXHXHýGHILQLWLRQýKDVýTXHXHýPDQDJHUýVFRSHñýPHDQLQJýWKHýGHILQLWLRQýRIýWKHýTXHXHýGRHVýQRWýH[WHQGýEH\RQGýWKHýTXHXHýPDQDJHUýWKDWýRZQVýLWïý6HOHFWý&HOOýLIýWKHýTXHXHýGHILQLWLRQýKDVýFHOOýVFRSHñýPHDQLQJýWKDWýWKHýTXHXHýLVýNQRZQýWRýDOOýRIýWKHýTXHXHýPDQDJHUVýLQýWKHýFHOOï

n %DVHý4XHXHýõ5HTXLUHGýHQWU\ôýðý(QWHUýWKHýORFDOýQDPHýRIýWKHýEDVHýTXHXHýEHLQJýDOLDVHGïý$ýEDVHýTXHXHýLVýDýTXHXHýWRýZKLFKýDQýDOLDVýTXHXHýGHILQLWLRQýUHIHUVïý7KHýEDVHýTXHXHý\RXýVSHFLI\ýPXVWýEHýDýORFDOýTXHXHýRUýDýORFDOýGHILQLWLRQýRIýDýUHPRWHýTXHXHïý$ýG\QDPLFýTXHXHýPD\ýQRWýEHýXVHGýDVýDýEDVHýTXHXHïýý

1RWHãý%HFDXVHýDQýDOLDVýTXHXHýUHIHUVýWRýDýEDVHýTXHXHñý\RXýPXVWýHQWHUýDý%DVHý4XHXHýQDPHýZKHQýFUHDWLQJýDýQHZýTXHXHýIRUýDQý$OLDVý4XHXHýW\SHïýý

$IWHUý\RXýPDNHýVHOHFWLRQVýRQýWKHý$OLDVý4XHXHýGLDORJýER[ñýFOLFNý2.ýWRýUHWXUQýWRýWKHý1HZý4XHXHýGLDORJýER[ï

2WKHUý4XHXHý3URSHUWLHVýðý5HPRWH

ìèí &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

2WKHUý4XHXHý3URSHUWLHVýðý5HPRWH

7KHý5HPRWHý4XHXHýGLDORJýER[ýLVýDFFHVVHGýIURPýWKHý2WKHUý4XHXHý3URSHUWLHVýEXWWRQýZKHQý\RXýDUHýGHILQLQJýUHPRWHýTXHXHVï

n 5HPRWHý4XHXHýGLDORJýER[

$IWHUýVHOHFWLQJýWKHý5HPRWHý4XHXHýW\SHýDQGýFOLFNLQJýRQýWKHý2WKHUý4XHXHý3URSHUWLHVýEXWWRQñýWKHý5HPRWHý4XHXHýGLDORJýER[ýDSSHDUVïý8VHýWKLVýGLDORJýER[ýWRýGHVLJQDWHýVFRSHýDQGýHQWHUýLQIRUPDWLRQýLGHQWLI\LQJýWKHýUHPRWHýTXHXHñýUHPRWHýTXHXHýPDQDJHUñýDQGýWUDQVPLVVLRQýTXHXHï

7KHý5HPRWHý4XHXHýSURSHUWLHVý\RXýFDQýVHWýIRUýUHPRWHýTXHXHVý\RXýGHILQHñýLQFOXGHýWKHýIROORZLQJã

n 6FRSHýðý6HOHFWý4ý0JUýLIýWKHýTXHXHýGHILQLWLRQýKDVýTXHXHýPDQDJHUýVFRSHñýPHDQLQJýWKHýGHILQLWLRQýRIýWKHýTXHXHýGRHVýQRWýH[WHQGýEH\RQGýWKHýTXHXHýPDQDJHUýWKDWýRZQVýLWïýý6HOHFWý&HOOýLIýWKHýTXHXHýGHILQLWLRQýKDVýFHOOýVFRSHñýPHDQLQJýWKDWýWKHýTXHXHýLVýNQRZQýWRýDOOýRIýWKHýTXHXHýPDQDJHUVýLQýWKHýFHOOï

n 5HPRWHý4XHXHýðý(QWHUýWKHýQDPHýRIýWKHýUHPRWHýTXHXHïýý7KHýUHPRWHýTXHXHýLVýWKHýORFDOýQDPHýRIýWKHýTXHXHýDVýGHILQHGýRQýWKHýUHPRWHýTXHXHýPDQDJHUï

n 5HPRWHý4XHXHý0DQDJHUýðý(QWHUýWKHýQDPHýRIýWKHýUHPRWHýTXHXHýPDQDJHUýRQýZKLFKýWKHýUHPRWHýTXHXHýLVýGHILQHGï

n 7UDQVPLVVLRQý4XHXHýðý(QWHUýWKHýQDPHýRIýWKHýWUDQVPLVVLRQýTXHXHýWRýEHýXVHGýIRUýIRUZDUGLQJýPHVVDJHVýWRýWKHýUHPRWHýTXHXHïýý7KHýWUDQVPLVVLRQýTXHXHýWHPSRUDULO\ýVWRUHVýPHVVDJHVýEHLQJýIRUZDUGHGýWRýWKHýUHPRWHýTXHXHýPDQDJHUï

&KDSWHUýìëïý&UHDWLQJýDý1HZý4XHXH ìèì

+RZýWRý&UHDWHýDý1HZý4XHXH

+RZýWRý&UHDWHýDý1HZý4XHXH

8VHýWKHýIROORZLQJýSURFHGXUHýWRýFUHDWHýDýQHZýTXHXHï

6WHSýìï 'HILQHýWKHýIRUPDWýIRUýWKHýQHZýTXHXHýLQý\RXUý)250$76ýILOHïýý)RUýPRUHýLQIRUPDWRQñýVHHý¦&KDSWHUýêïý7KHý)250$76ý)LOHï§ý

6WHSýëï 6HOHFWý1HZý4XHXHýIURPýWKHý)LOHýPHQXýLQý34(GLWïýý7KHý1HZý4XHXHýGLDORJýER[ýDSSHDUVï

6WHSýêï (QWHUýWKHý4XHXHý0DQDJHUýQDPHïýý

<RXýPD\ýVHOHFWýDýUHFHQWO\ýXVHGýTXHXHýPDQDJHUýIURPýWKHýGURSGRZQñýRUýOHDYHýWKLVýILHOGýEODQNýIRUýWKHýGHIDXOWýTXHXHýPDQDJHUï

6WHSýéï (QWHUýDý4XHXHý1DPHýIRUýWKHýTXHXHý\RXýDUHýFUHDWLQJïý

6WHSýèï (QWHUýDQýRSWLRQDOý'HVFULSWLRQýIRUýWKHýQHZýTXHXHï

6WHSýçï ,Iý\RXýZDQWýWRýXVHýWKHýDWWULEXWHVýRIýDQRWKHUýTXHXHýLQýGHILQLQJýWKHýQHZýTXHXHñýHQWHUýWKHýRWKHUýTXHXHýQDPHýLQýWKHý/LNHýILHOGïý

6WHSýæï &OLFNýRQýDýEXWWRQýWRýLGHQWLI\ýWKHý4XHXHý7\SHý\RXýDUHýFUHDWLQJï

6WHSýåï 5HYLHZýWKHý&RPPRQý4XHXHý3URSHUWLHVýJURXSýER[ýDQGýFKDQJHýWKHý'HIDXOWý3ULRULW\ñýRUýWKHýVHOHFWLRQVýIRUý3HUVLVWHQWý0HVVDJHVñýRUý3XWý(QDEOHGñý5HSODFHñýDVýUHTXLUHGï

6WHSýäï &OLFNýRQýWKHý2WKHUý4XHXHý3URSHUWLHVýEXWWRQïýý$ýGLDORJýER[ýDSSHDUVýVKRZLQJýORFDOñýPRGHOñýDOLDVñýRUýUHPRWHýTXHXHýSURSHUWLHVï

6WHSýìíï 5HYLHZýWKHý2WKHUý4XHXHý3URSHUWLHVýDSSURSULDWHýIRUý\RXUýQHZýTXHXHïýý

)RUý/RFDOýDQGý0RGHOýTXHXHVñýXVHýWDEVýWRýGLVSOD\ýDOOýRIýWKHýSURSHUW\ýVHWWLQJVýDYDLODEOHïýý&OLFNý2.ýZKHQý\RXýKDYHýILQLVKHGýFKRRVLQJýRUýPRGLI\LQJýWKHýRWKHUýTXHXHïý7KHý1HZý4XHXHýGLDORJýER[ýUHDSSHDUVï

6WHSýììï &OLFNýRQýWKHý&UHDWHýEXWWRQýWRýFUHDWHýWKHýQHZýTXHXHï

+RZýWRý&UHDWHýDý1HZý4XHXH

ìèë &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

&DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH ìèê

&KDSWHUýìêï3ULQWLQJýDý4XHXH

,QWURGXFWLRQ

7KLVýFKDSWHUýGHVFULEHVýKRZý\RXýSULQWýTXHXHVýLQý34(GLWïýý,WýGHVFULEHVýSDJHýVHWXSýLQýDý*8,ýHQYLURQPHQWñýDQGýLQFOXGHVýDýGHVFULSWLRQýRIýKRZý34(GLWýSULQWVýODUJHUýTXHXHVýWKDWýGRýQRWýILWýRQýDQýLQGLYLGXDOýSDJHï

&KDSWHUýFRQWHQWV

3DJHý6HWXSýDQGý3ULQWLQJýLQýDý*8,ý(QYLURQPHQWïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìèé3DJHý6HWXS ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìèé3ULQW ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìèé

3ULQWLQJýWRýDQý,63)ý/LVWý'DWDVHW ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìèè

ìê

3DJHý6HWXSýDQGý3ULQWLQJýLQýDý*8,ý(QYLURQPHQW

ìèé &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

3DJHý6HWXSýDQGý3ULQWLQJýLQýDý*8,ý(QYLURQPHQW

,QýDý*8,ýHQYLURQPHQWñý\RXýDFFHVVýWKHý3DJHý6HWXSýDQGý3ULQWýFRPPDQGVýIURPýWKHý)LOHýPHQXï

n 3DJHý6HWXS

7KHý3DJHý6HWXSýFRPPDQGýGLVSOD\VýWKHýPDUJLQVýIRUýSULQWLQJýWKHýTXHXHïýý<RXýFDQýHQWHUýQHZýPDUJLQVñýLQýLQFKHVñýRUýOHDYHýWKHýGHIDXOWýPDUJLQVïýý:KHQý\RXýGHILQHýWKHýPDUJLQVñý\RXýFDQýVHOHFWýWKHý6KDGHýFROXPQýDQGýPHVVDJHýODEHOVýRSWLRQýWRýVKDGHýFROXPQýDQGýPHVVDJHýODEHOVýGXULQJýSULQWLQJï

n 3ULQWý

7KHý3ULQWýFRPPDQGýIURPýWKHý)LOHýPHQXýGLVSOD\VýWKHýVWDQGDUGý3ULQWýGLDORJýER[ýIRUýWKHýHQYLURQPHQWýLQýZKLFKý\RXýDUHýXVLQJý34(GLWïýý,QýDGGLWLRQýWRýSULQWLQJýDOOýRIýWKHýTXHXHýGDWDñý\RXýPD\ýSULQWýDýVHOHFWHGýQXPEHUýRIýSDJHVñýRUýDýVHOHFWHGýSRUWLRQýRIýWKHýTXHXHïýý<RXýPD\ýDOVRýSULQWýWRýDýILOHï

*8,

&KDSWHUýìêïý3ULQWLQJýDý4XHXH ìèè

3ULQWLQJýWRýDQý,63)ý/LVWý'DWDVHW

3ULQWLQJýWRýDQý,63)ý/LVWý'DWDVHW

,QýDQý096ýHQYLURQPHQWñý34(GLWýSURYLGHVýDQýRSWLRQýWRýSULQWýWRýDQý,63)ý/LVWý'DWDVHWïýý7KLVýJLYHVý\RXýWKHýRSWLRQýRIýVWRULQJýTXHXHýGDWDýIRUýSULQWLQJýDWýDýODWHUýWLPHïýý

7RýSULQWýWRýDQý,63)ýOLVWýGDWDVHWñýVHOHFWý3ULQWýWRý,63)ý/LVWý'DWDVHWýIURPýWKHý)LOHýPHQXïýýõ<RXýFDQýDOVRýHQWHUý35,ýIURPýWKHýFRPPDQGýOLQHýWRýPDNHýWKHýPHQXýVHOHFWLRQïôýýý$ýPHVVDJHýDSSHDUVýFRQILUPLQJýWKDWý\RXýKDYHýSULQWHGýWKHýTXHXHýWRýWKHýGDWDVHWï

7KHýGDWDVHWýIRUý\RXUýTXHXHýFDQýEHýSULQWHGýXSRQýH[LWýIURPý,63)ýRUý\RXýFDQýVDYHýWKHýTXHXHýGDWDýIRUýODWHUýYLHZLQJñýSULQWLQJñýRUýGHOHWLRQïý

3ULQWLQJý2UGHU,IýWKHý4XHXHýWRýEHýSULQWHGýGRHVýQRWýILWýRQýRQHýSULQWHGýSDJHñý34(GLWýSULQWVýWKHýTXHXHýLQýSDJHVýLQýDýOHIWðWRðULJKWýDQGýWRSðWRðERWWRPýRUGHUïýý7KLVýLVýVLPLODUýWRýWKHýZD\ý\RXýZRXOGýSULQWýDýODUJHýVSUHDGVKHHWïýýý6HHýWKHýIROORZLQJýLOOXVWUDWLRQýIRUýDQýH[DPSOHýRIýKRZýDýTXHXHýLVýSULQWHGï

ý)LOHýý6HDUFKýý7RROVýý+HOSýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýïððððððððððððððððððððððððððððððððððïýðððððððððððððððððððððððððððððððððððððððð_ýýýýìïý5HIUHVKýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýóïý&RPPLWýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýóïý5ROOEDFNýýýýýýýýýýýýýýýýýýý_ýGLWý0VJýýý=ýý,63)ý(GLWý0VJýýýýýýýýýýýýýý_ýýýýéïý3ULQWýWRý,63)ý/LVWý'DWDVHWý_ýGLWý&ROýQý=Qý,63)ý(GLWý&ROýQýýýý0RUHãýýý_ýýýýèïý([LWýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý�ðððððððððððððððððððððððððððððððððð�ýýýýýýýýýýýýýýýýýýýýýýêýýýýýýýýýýýýýýýýýýý&PGý6WDWXVýýý,QYïý,'ýýýýýýýý&RPSDQ\ýýýýýýýýýýýýýýýýýýý&RQWDFWýýýýýýýýýýýýýýýýýýýýýííííìýýý75íëýýýý%LRSHGLFýýýýýýýýýýýýýý3DXOý6PLWKýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííëýýý75íêýýýý*+ý,QGXVWULHVýýýýýýýýý-LOOý)UHGHULFýýýýýýýýýýýýýýýýýýýýýýýýýýííííêýýý75íçýýýý(OHFWURQý+\EULGý&Rýýýý$OLý0RQDVKýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííéýýý75íèýýýý*HRSODVWLFý*URXSýýýýýý(YDý6P\WKýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííèýýýíííìýýýý&RSSHUKDOWý0LQLQJýýýýý$OOHQý/HHýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííçýýý75íæýýýý1RUWKZHVWý)DUPLQJýýýýý:DOO\ý*OHDVRQýýýýýýýýýýýýýýýýýýýýýýýýýýííííæýýý75íéýýýý1RUWKZHVWý)DUPLQJýýýýý1HOOý$OEHUWVýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóó

6HOHFWýWRýSULQWýWRý,63)ýGDWDVHW

,63)

3ULQWLQJýWRýDQý,63)ý/LVWý'DWDVHW

ìèç &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

3ULQWLQJýWKHý/LVWý'DWDVHWýZKHQýH[LWLQJý,63)

7\SLFDOO\ñý34(GLWýXVHUVýZLOOýSULQWýWKHýTXHXHýGDWDVHWýXVLQJýWKHý6SHFLI\ý'LVSRVLWLRQýRIý/RJýDQGý/LVWý'DWDý6HWVýSDQHOýGLVSOD\HGýZKHQýH[LWLQJý,63)ï

4XHXH#1DPH

&ROXPQýì &ROXPQýë &ROXPQê &ROXPQýé

ííííìííííëííííèííííçííííæííííå

ííííäíííìííííìëíííìêíííìéíííìèíííìçððððððð

&ROXPQýì &ROXPQýë &ROXPQê &ROXPQýé

3DJHýì 3DJHýë

3DJHýê 3DJHýé

4XHXH#1DPH4XHXH#1DPH

4XHXH#1DPH

ííííìííííëííííèííííçííííæííííå

ííííäíííìííííìëíííìêíííìéíííìèíííìçððððððð

6SHFLI\ý'LVSRVLWLRQýRIý/RJýDQGý/LVWý'DWDý6HWVýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý0RUHãýýýýòý/RJý2SWLRQVýIRUýWKLVýVHVVLRQýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý3URFHVVýRSWLRQýýïýïýïýýýýýìïý3ULQWýGDWDýVHWýDQGýGHOHWHýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýëïý'HOHWHýGDWDýVHWýZLWKRXWýSULQWLQJýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýêïý.HHSýGDWDýVHWýðý6DPHýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýõDOORFDWHýVDPHýGDWDýVHWýLQýQH[WýVHVVLRQôýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýéïý.HHSýGDWDýVHWýðý1HZýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýõDOORFDWHýQHZýGDWDýVHWýLQýQH[WýVHVVLRQôýýýýýýýýýýý6<6287ýFODVVýýïýïýïýïý$ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý/RFDOýSULQWHUý,'ýýïýïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý/LVWýRSWLRQVýIRUýWKLVýVHVVLRQýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý3URFHVVýRSWLRQýýïýïýïýìýýýìïý3ULQWýGDWDýVHWýDQGýGHOHWHýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýëïý'HOHWHýGDWDýVHWýZLWKRXWýSULQWLQJýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýêïý.HHSýGDWDýVHWýðý6DPHýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýõDOORFDWHýVDPHýGDWDýVHWýLQýQH[WýVHVVLRQôýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýéïý.HHSýGDWDýVHWýðý1HZýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýõDOORFDWHýQHZýGDWDýVHWýLQýQH[WýVHVVLRQôýýýýýýýýýýý6<6287ýFODVVýýïýïýïýïý$ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý/RFDOýSULQWHUý,'ýýïýïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý&RPPDQGý !

&KDSWHUýìêïý3ULQWLQJýDý4XHXH ìèæ

3ULQWLQJýWRýDQý,63)ý/LVWý'DWDVHW

,Iý\RXýFKRRVHýWRýNHHSýWKHýTXHXHýGDWDVHWñý\RXýFDQýSULQWñýYLHZñýRUýGHOHWHýWKHýGDWDVHWýGXULQJý\RXUýQH[Wý,63)ýVHVVLRQïýý)RUýPRUHýLQIRUPDWLRQýRQýSULQWLQJýWRý,63)ýOLVWýGDWDVHWVñýVHHýWKHý,%0ý,QWHUDFWLYHý6\VWHPý3URGXFWLYLW\ý)DFLOLW\ýõ,63)ôý8VHUöVý*XLGHýõ6&êéðééåéðííôï

3ULQWLQJýWRýDQý,63)ý/LVWý'DWDVHW

ìèå &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

&DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH ìèä

&KDSWHUýìéï8QORDGLQJýDQGý/RDGLQJý4XHXHV

,QWURGXFWLRQ

7KHý8QORDGýFRPPDQGýIURPýWKHý7RROVýPHQXýVWRUHVýPHVVDJHVýWRýDýORFDOýILOHýIURPýWKHýýFXUUHQWO\ýGLVSOD\HGýTXHXHïýý7KLVýFKDSWHUýGHVFULEHVýWKHý8QORDGýFRPPDQGýXVHGýLQýDý*8,ýHQYLURQPHQWñýDQGýXQGHUý,63)ï

&KDSWHUý&RQWHQWV

8QORDGý&RPPDQGýõ*8,ôýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìçí8QORDGýILOHV ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìçí

8QORDGý&RPPDQGýõ,63)ô ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìçì6SHFLI\ý4XHXHý'DWDý6HWýSDQHO ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìçì

/RDGý&RPPDQGýõ*8,ô ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìçë6HOHFWý)LOHýWRý/RDGýGLDORJýER[ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìçë/RDGýILOHV ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìçë

/RDGý&RPPDQGýõ,63)ôïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìçê6SHFLI\ý4XHXHý'DWDý6HWýSDQHO ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìçê

8VLQJýWKHý/RDGýDQGý8QORDGý&RPPDQGVïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìçé5HJUHVVLRQýWHVWLQJýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìçé5HRUGHULQJýPHVVDJHVýLQýDýTXHXH ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìçé

5HRUGHULQJý0HVVDJHVýLQýDý4XHXHýõ*8,ô ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìçè

3UHVHUYLQJýWKHý2UGHUýRIý'LVSOD\HGý0HVVDJHVýõ,63)ô ïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìçç.HHSLQJýWKHýRUGHUýRIýDýTXHXH ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìçç

ìé

8QORDGý&RPPDQGýõ*8,ô

ìçí &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

8QORDGý&RPPDQGýõ*8,ô

:KHQý\RXýFKRRVHýWKHý8QORDGýFRPPDQGýWKHý6DYHý8QORDGý)LOHý$VýGLDORJýER[ýDSSHDUVñýDOORZLQJý\RXýWRýHQWHUýDýILOHQDPHýIRUýWKHýPHVVDJHVý\RXýDUHýXQORDGLQJýIURPý34(GLWïýý7KLVýHQDEOHVý\RXýWRýVWRUHýWHVWýGDWDýPHVVDJHVñýVXFKýDVýVXEVHWVýRIýWHVWýGDWDñýZKLFKý\RXýFDQýUHORDGýODWHUýXVLQJýWKHý/RDGýFRPPDQGýIURPýWKHý7RROVýPHQXïý

n 8QORDGýILOHV

34(GLWýVWRUHVýWKHýXQORDGHGýPHVVDJHVýILOHVýQDPHGýZLWKýDýïSTXýVXIIL[ïýý7RýVDYHýPHVVDJHýILOHVñýHQWHUýDýILOHýQDPHýIRUýWKHýPHVVDJHýILOHý\RXýDUHýVDYLQJýõLQFOXGLQJýWKHýïSTXýVXIIL[ôýDQGýWKHQýFKRRVHýWKHý6DYHýEXWWRQïý

,QýDý*8,ýHQYLURQPHQWñýVWDQGDUGýEXWWRQVýDUHýDYDLODEOHýIRUýEURZVLQJñýFUHDWLQJýILOHýIROGHUVñýDQGýOLVWLQJýILOHýQDPHVýRUýLFRQVïýý

,IýDýILOWHUýLVýDFWLYHýZKHQý\RXýXQORDGýWKHýPHVVDJHVýLQýWKHýFXUUHQWO\ýGLVSOD\HGýTXHXHñýRQO\ýWKHýILOWHUHGýPHVVDJHVýDUHýVDYHGñýDQGýWKH\ýDUHýVDYHGýLQýWKHýRUGHUýLQýZKLFKýWKH\ýDUHýFXUUHQWO\ýGLVSOD\HGï

)RUýLQIRUPDWLRQýRQýKRZý\RXýORDGý34(GLWýILOHVñýVHHýû/RDGLQJý0HVVDJHVïû

*8,

&KDSWHUýìéïý8QORDGLQJýDQGý/RDGLQJý4XHXHV ìçì

8QORDGý&RPPDQGýõ,63)ô

ý8QORDGý&RPPDQGýõ,63)ô

7KHý8QORDGýFRPPDQGýIURPýWKHý7RROVýPHQXýVWRUHVýPHVVDJHVýWRýDýORFDOýGDWDVHWýIURPýWKHýFXUUHQWO\ýGLVSOD\HGýTXHXHïýý7KLVýWRSLFýGHVFULEHVýWKHý8QORDGýFRPPDQGýXVHGýXQGHUý,63)ï

n 6SHFLI\ý4XHXHý'DWDý6HWýSDQHO

:KHQý\RXýFKRRVHýWKHý8QORDGýFRPPDQGýWKHý6SHFLI\ý4XHXHý'DWDý6HWýSDQHOýDSSHDUVñýDOORZLQJý\RXýWRýHQWHUýDýQDPHýIRUýWKHýPHVVDJHVý\RXýDUHýXQORDGLQJýIURPý34(GLWïýý7KLVýHQDEOHVý\RXýWRýVWRUHýWHVWýGDWDýPHVVDJHVñýVXFKýDVýVXEVHWVýRIýWHVWýGDWDñýZKLFKý\RXýFDQýUHORDGýODWHUýXVLQJýWKHý/RDGýFRPPDQGýIURPýWKHý7RROVýPHQXïý

34(GLWýXQORDGVýDQGýORDGVýTXHXHýGDWDVHWVýXVLQJýWKHýVDPHýSDQHOï

7KHý6SHFLI\ý'DWDý6HWýSDQHOýLQFOXGHVýRQHýILHOGã

'DWDý6HWý1DPHýLVýWKHýQDPHýRIýWKHýGDWDVHWý\RXýZDQWýWRýVSHFLI\ïýý7KHýGDWDVHWýPXVWýDOUHDG\ýH[LVWýDQGýEHýFDWDORJXHGïý

)RUýLQIRUPDWLRQýRQýKRZý\RXýORDGý34(GLWýILOHVñýVHHýû/RDGLQJý0HVVDJHVïû

ïððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððï_ýýýýýýýýýýýýýýýýýýýýý34(GLWýðý6SHFLI\ý4XHXHý'DWDý6HWýýýýýýýýýýýýýýýýýýýýýý__ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ý3DUWLWLRQHGýRUý6HTXHQWLDOý'DWDý6HWãýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ýý'DWDý6HWý1DPHýïýïýïýïýö34(',7ï81/2$'õ,192,&(6ôöýýýýýýýýýýýýýýýýýýýýýýýýý__ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ý&RPPDQGý !ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý__ýý)ì +HOSýýýýý)ê ([LWýýýý)ìë &DQFHOýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_�ðððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððð�

,63)

/RDGý&RPPDQGýõ*8,ô

ìçë &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

/RDGý&RPPDQGýõ*8,ô

7KHý/RDGýFRPPDQGýIURPýWKHý7RROVýPHQXýDGGVýPHVVDJHVýIURPýDýILOHýWRýWKHýFXUUHQWO\ýGLVSOD\HGýTXHXHïý7KLVýWRSLFýGHVFULEHVýWKHý/RDGýFRPPDQGýXVHGýLQýDý*8,ýHQYLURQPHQWïý

n 6HOHFWý)LOHýWRý/RDGýGLDORJýER[

:KHQý\RXýFKRRVHýWKHý/RDGýFRPPDQGñýWKHý6HOHFWý)LOHýWRý/RDGýGLDORJýER[ýDSSHDUVýDOORZLQJý\RXýWRýFKRRVHýIURPýDýOLVWýRIýPHVVDJHýILOHVýSUHYLRXVO\ýVDYHGïýý

n /RDGýILOHV

,Qý34(GLWñýXQORDGHGýPHVVDJHVýDUHýVWRUHGýLQýILOHVýWKDWýKDYHýDýïSTXýVXIIL[ïýý7RýORDGýPHVVDJHýILOHVñý\RXýHQWHUýRUýVHOHFWýWKHýQDPHýRIýWKHýïSTXýILOHýIURPýWKHý6HOHFWý)LOHýWRý/RDGýGLDORJýER[ñýDQGýWKHQýVHOHFWýWKHý2SHQýEXWWRQïý

'HSHQGLQJýRQý\RXUýRSHUDWLQJýHQYLURQPHQWñýRWKHUýVWDQGDUGýEXWWRQVýDUHýDYDLODEOHýIRUýEURZVLQJñýFUHDWLQJýILOHýIROGHUVñýDQGýOLVWLQJýILOHýQDPHVýRUýLFRQV

)RUýLQIRUPDWLRQýRQýKRZý\RXýXQORDGý34(GLWýILOHVñýVHHýWKHýSUHYLRXVýVHFWLRQñýû8QORDGLQJý0HVVDJHVïû

*8,

&KDSWHUýìéïý8QORDGLQJýDQGý/RDGLQJý4XHXHV ìçê

/RDGý&RPPDQGýõ,63)ô

/RDGý&RPPDQGýõ,63)ô

7KHý/RDGýFRPPDQGýIURPýWKHý7RROVýPHQXýDGGVýPHVVDJHVýIURPýDýGDWDVHWýWRýWKHýFXUUHQWO\ýGLVSOD\HGýTXHXHïýý7KLVýWRSLFýGHVFULEHVýWKHý/RDGýFRPPDQGýXVHGýXQGHUý,63)ï

n 6SHFLI\ý4XHXHý'DWDý6HWýSDQHO

:KHQý\RXýFKRRVHýWKHý/RDGýFRPPDQGýWKHý6SHFLI\ý4XHXHý'DWDý6HWýSDQHOýDSSHDUVñýDOORZLQJý\RXýWRýHQWHUýDýGDWDVHWýQDPHýIRUýWKHýPHVVDJHVý\RXýDUHýORDGLQJýIURPý34(GLWïýý7KLVýHQDEOHVý\RXýWRýORDGýWHVWýGDWDýPHVVDJHVñýVXFKýDVýVXEVHWVýRIýWHVWýGDWDñýZKLFKý\RXýKDYHýSUHYLRXVO\ýVDYHGýXVLQJýWKHý8QORDGýFRPPDQGýIURPýWKHý7RROVýPHQXïý

34(GLWýXQORDGVýDQGýORDGVýTXHXHýGDWDVHWVýXVLQJýWKHýVDPHýSDQHOï

7KHý6SHFLI\ý'DWDý6HWýSDQHOýLQFOXGHVýRQHýILHOGã

'DWDý6HWý1DPHýLVýWKHýQDPHýRIýWKHýGDWDVHWý\RXýZDQWýWRýVSHFLI\ýLIýWKHýGDWDVHWýLVýFDWDORJXHGïýý

)RUýLQIRUPDWLRQýRQýKRZý\RXýXQORDGý34(GLWýILOHVñýVHHýWKHýSUHYLRXVýVHFWLRQñýû8QORDGLQJý0HVVDJHVïû

ýïðððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððý_ýýýýýýýýýýýýýýýýýýýýý34(GLWýðý6SHFLI\ý4XHXHý'DWDý6HWýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý3DUWLWLRQHGýRUý6HTXHQWLDOý'DWDý6HWãýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýý'DWDý6HWý1DPHýïýïýïýïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý&RPPDQGý !ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýý)ì +HOSýýýýý)ê ([LWýýýý)ìë &DQFHOýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý�ððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððð

,63)

8VLQJýWKHý/RDGýDQGý8QORDGý&RPPDQGV

ìçé &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

8VLQJýWKHý/RDGýDQGý8QORDGý&RPPDQGV

7KHý/RDGýDQGý8QORDGýFRPPDQGVýDUHýXVHGýWRýVWRUHýDQGýUHWULHYHýTXHXHVýLQý34(GLWïýý&RPPRQýXVHVýIRUýWKHVHýFRPPDQGVýDUHýIRUýUHJUHVVLRQýWHVWLQJñýUHRUGHULQJýPHVVDJHVýLQýDýTXHXHñýRUýSUHVHUYLQJýWKHýGLVSOD\HGýRUGHUýRIýPHVVDJHVïý

n 5HJUHVVLRQýWHVWLQJ

/RDGýDQGý8QORDGýHQDEOHý\RXýWRýVWRUHýWHVWýPHVVDJHVýWKDWý\RXýFDQýUHORDGýEHIRUHýHYHU\ýWHVWïýý<RXýFDQýDOVRýVWRUHýGLIIHUHQWýVXEVHWVýRIýWHVWýGDWDïýý%HFDXVHýWKHý/RDGýFRPPDQGýDGGVýWKHýPHVVDJHVýLQýWKHýILOHýWRýWKHýFXUUHQWO\ýGLVSOD\HGýPHVVDJHVñý\RXýFDQýEXLOGýDýVHWýRIýWHVWýPHVVDJHVýE\ýORDGLQJýVHYHUDOýVXEVHWVýRIýWHVWýGDWDï

7RýXQORDGýRQO\ýDýVHOHFWHGýSRUWLRQýRIýDýTXHXHñýFKRRVHýWKHýVHWýRIýPHVVDJHVý\RXýZDQWýXVLQJýWKHý)LOWHUýFRPPDQGýIURPýWKHý6HDUFKýPHQXñýWKHQý8QORDGýWKHýVHOHFWHGýPHVVDJHVï

n 5HRUGHULQJýPHVVDJHVýLQýDýTXHXH

<RXýFDQýXVHý/RDGýDQGý8QORDGýWRýUHRUGHUýPHVVDJHVýLQýDýTXHXHïýý8QORDGýVDYHVýWKHýPHVVDJHVýLQýWKHLUýGLVSOD\ýRUGHUñýQRWýWKHLUýRUGHUýLQýWKHýTXHXHïýý7KLVýPHDQVý\RXýFDQýXVHýWKHý&XWýDQGý3DVWHýFRPPDQGVýDYDLODEOHýLQýDý*8,ýHQYLURQPHQWýWRýRUGHUýWKHýPHVVDJHVýRQýWKHýGLVSOD\ñýWKHQýXQORDGýDQGýõUHôORDGýWKHýPHVVDJHVïýý7KHýPHVVDJHVýDUHýUHRUGHUHGïýý6HHýWKHýQH[WýWRSLFñýû5HRUGHULQJý0HVVDJHVýLQýDý4XHXHûýIRUýPRUHýLQIRUPDWLRQï

&KDSWHUýìéïý8QORDGLQJýDQGý/RDGLQJý4XHXHV ìçè

5HRUGHULQJý0HVVDJHVýLQýDý4XHXHýõ*8,ô

5HRUGHULQJý0HVVDJHVýLQýDý4XHXHýõ*8,ô

7KHýIROORZLQJýSURFHGXUHýOLVWVýWKHýVWHSVý\RXýXVHýWRýUHRUGHUýPHVVDJHVýLQýDýTXHXHýXVLQJýWKHý/RDGýDQGý8QORDGýFRPPDQGVïýý7KLVýDSSOLHVýWRýWKHý*8,ýYHUVLRQVýRIý34(GLWï

1RWHãýý0HVVDJHVýLQý34(GLWýDUHýQRWýQHFHVVDULO\ýLQýWKHýVDPHýRUGHUýLQýWKHýTXHXHýWKDWýWKH\ýDUHýRQýWKHýVFUHHQïýý:LWKý046HULHVñýDQ\ýWLPHý\RXýDGGýRUýFKDQJHýDýPHVVDJHýLWýLVýSODFHGýDWýWKHýHQGýRIýWKHýTXHXHïýý34(GLWýGLVSOD\VýDý&+*ýRUý,16ýVWDWXVýWRýUHPLQGý\RXýWKDWýRUGHUýRQýWKHýGLVSOD\ýGRHVýQRWýPDWFKýWKHýFRQWHQWVýRIýWKHýTXHXHï

6WHSýìï 2SHQýDýTXHXHýZLWKýWKHý(GLWý8QGHUý6\QFSRLQWý&RQWUROýRSWLRQýFOLFNHGïýý7KLVýOHWVý\RXýUROOEDFNýDQ\ýFKDQJHVýLIýDQ\ýSUREOHPVýRFFXUýZKLOHýUHRUGHULQJýWKHýTXHXHï

6WHSýëï 8VHýWKHý&XWñý&RS\ýDQGý3DVWHýFRPPDQGVýIURPýWKHý(GLWýPHQXýWRýYLVXDOO\ýDUUDQJHýPHVVDJHVýLQýWKHýRUGHUý\RXýZDQWïý

6WHSýêï 6HOHFWý8QORDGýIURPýWKHý7RROVýPHQXýDQGýXQORDGýWKHýTXHXHýWRýDýILOHïýý34(GLWýXQORDGVýWKHýPHVVDJHVýLQýWKHýRUGHUýLQýZKLFKýWKH\ýDUHýGLVSOD\HGï

6WHSýéï 'HOHWHýDOOýWKHýPHVVDJHVýLQýWKHýTXHXHïýý7RýGRýWKLVñýFOLFNýLQýWKHýXSSHUýOHIWýFRUQHUýER[ýLQýWKHýTXHXHýWRýVHOHFWýWKHýHQWLUHýTXHXHñýWKHQýVHOHFWý'HOHWHýIURPýWKHý(GLWýPHQXï

6WHSýèï 6HOHFWý/RDGýIURPýWKHý7RROVýPHQXïýý7KHýPHVVDJHVýDUHýORDGHGýIURPýWKHýILOHýLQWRýWKHýTXHXHïýý%HFDXVHýWKHýPHVVDJHVýLQýWKHýILOHýDUHýLQýWKHýQHZýRUGHUñýWKHýTXHXHýLVýORDGHGýLQýWKHýVDPHýRUGHUï

6WHSýçï ,IýWKHýRUGHUýRIýWKHýTXHXHýLVýQRZýFRUUHFWñýFORVHýWKHýTXHXHýWRýVDYHýWKHýQHZýPHVVDJHýRUGHUï

*8,

3UHVHUYLQJýWKHý2UGHUýRIý'LVSOD\HGý0HVVDJHVýõ,63)ô

ìçç &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

3UHVHUYLQJýWKHý2UGHUýRIý'LVSOD\HGý0HVVDJHVýõ,63)ô

7KHýIROORZLQJýSURFHGXUHýOLVWVýWKHýVWHSVý\RXýXVHýWRýUHWDLQýWKHýRUGHUýRIýPHVVDJHVýLQýDýTXHXHýDIWHUý\RXýKDYHýLQVHUWHGñýGHOHWHGñýRUýPRGLILHGýPHVVDJHVïýý7RýGRýWKLVñýXVHýWKHýý/RDGýDQGý8QORDGýFRPPDQGVýXQGHUý,63)ïýý

n .HHSLQJýWKHýRUGHUýRIýýDýTXHXH

8VHýWKLVýSURFHGXUHýWRýNHHSýWKHýRUGHUýRIýPHVVDJHVýLQýDýTXHXHýWKDWýPD\ýKDYHýFKDQJHGýDVýDýUHVXOWýRIýHGLWLQJï

1RWHãýý0HVVDJHVýLQý34(GLWýDUHýQRWýQHFHVVDULO\ýLQýWKHýVDPHýRUGHUýLQýWKHýTXHXHýWKDWýWKH\ýDUHýRQýWKHýVFUHHQïýý:LWKý046HULHVñýDQ\ýWLPHý\RXýDGGýRUýFKDQJHýDýPHVVDJHýLWýLVýSODFHGýDWýWKHýHQGýRIýWKHýTXHXHïýý34(GLWýGLVSOD\VýDý&+*ýRUý,16ýVWDWXVýWRýUHPLQGý\RXýWKDWýWKHýRUGHUýRQýWKHýGLVSOD\ýGRHVýQRWýPDWFKýWKHýFRQWHQWVýRIýWKHýTXHXHï

6WHSýìï 2SHQýDýTXHXHýZLWKýWKHý(GLWý8QGHUý6\QFSRLQWý&RQWUROýRSWLRQýFOLFNHGïýý7KLVýOHWVý\RXýUROOEDFNýDQ\ýFKDQJHVýLIýDQ\ýSUREOHPVýRFFXUýZKLOHýUHRUGHULQJýWKHýTXHXHï

6WHSýëï 8VHýWKHý34(GLWýOLQHýFRPPDQGVýõVXFKýDVý,ýDQGý'ôýDQGýWKHý&KDQJHýSULPDU\ýFRPPDQGýDVýUHTXLUHGýWRýHGLWý\RXUýTXHXHï

6WHSýêï 6HOHFWý8QORDGýIURPýWKHý7RROVýPHQXýDQGýXQORDGýWKHýTXHXHýWRýDýGDWDVHWïýý34(GLWýXQORDGVýWKHýPHVVDJHVýLQýWKHýRUGHUýLQýZKLFKýWKH\ýDUHýGLVSOD\HGï

6WHSýéï 'HOHWHýDOOýPHVVDJHVýIURPýWKHýTXHXHïýý<RXýFDQýXVHýWKHý'ýOLQHýFRPPDQGï

6WHSýèï 6HOHFWý/RDGýIURPýWKHý7RROVýPHQXýDQGýORDGýWKHýPHVVDJHVïýý7KHýPHVVDJHVýDUHýORDGHGýIURPýWKHýGDWDVHWýLQWRýWKHýTXHXHïýý%HFDXVHýWKHýPHVVDJHVýLQýWKHýILOHýDUHýLQýWKHýQHZýRUGHUñýWKHýTXHXHýLVýORDGHGýLQýWKHýVDPHýRUGHUï

6WHSýçï ,IýWKHýRUGHUýRIýWKHýTXHXHýLVýQRZýFRUUHFWñýFORVHýWKHýTXHXHýWRýVDYHýWKHýQHZýPHVVDJHýRUGHUï

,63)

&DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH ìçæ

&KDSWHUýìèï34(GLWý2SWLRQV

,QWURGXFWLRQ

7KLVýFKDSWHUýGHVFULEHVýKRZýWRýVHWý34(GLWý2SWLRQVýLQýERWKýWKHý*8,ýHQYLRUQPHQWñýDQGýXQGHUý,63)ïý8VHýWKHý2SWLRQVýSDQHOýWRýFKDQJHýGLVSOD\ýDWWULEXWHVýDQGýRSHUDWLQJýFKDUDFWHULVWLFVýRIý34(GLWïý

&KDSWHUý&RQWHQWV

6HWWLQJý34(GLWý2SWLRQVýõ*8,ôýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìçå2SWLRQVýGLDORJýER[ ýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìçå

6HWWLQJý34(GLWý2SWLRQVýõ,63)ôïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìæì2SWLRQVýGLDORJýSDQHOýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýïýï ýìæì

ìè

6HWWLQJý34(GLWý2SWLRQVýõ*8,ô

ìçå &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

6HWWLQJý34(GLWý2SWLRQVýõ*8,ô

$FFHVVýWKHý2SWLRQVýFRPPDQGýIURPýWKHý7RROVýPHQXýZKHQýXVLQJý34(GLWýLQýDý*8,ýHQYLURQPHQWïýý7KHý2SWLRQVýFRPPDQGýLVýXVHGýWRýGLVSOD\ýWKHý2SWLRQVýGLDORJýER[ï

n 2SWLRQVýGLDORJýER[

8VHýWKHý2SWLRQVýGLDORJýER[ýWRýFKDQJHýGLVSOD\ýDWWULEXWHVýDQGýRSHUDWLQJýFKDUDFWHULVWLFVýRIý34(GLWïýý<RXýFDQýGLVSOD\ýWKHý2SWLRQVýGLDORJýER[ýZKHWKHUýRUýQRWý\RXýDUHýFXUUHQWO\ýHGLWLQJýDýTXHXHïý,Iý\RXýPDNHýRSWLRQýFKDQJHVýZKLOHýHGLWLQJýDýTXHXHñýWKRVHýFKDQJHVýWDNHýHIIHFWýLPPHGLDWHO\ï

7KHý2SWLRQVý'LDORJýER[ýHQDEOHVý\RXýWRýPDNHýFKDQJHVýWRýWKHýIROORZLQJã

n 'LVSOD\ýRIýPHVVDJHýGHVFULSWRUýILHOGV

n &ROXPQýKHDGLQJýFRORUV

n 0D[LPXPýPHVVDJHVýWRýUHWULHYHý

n )250$76ï,1,ýGLUHFWRU\

n &KDUDFWHUýILHOGýSDGGLQJ

n )RQWVýLQýTXHXHýZLQGRZ

*8,

&KDSWHUýìèïý34(GLWý2SWLRQV ìçä

6HWWLQJý34(GLWý2SWLRQVýõ*8,ô

0HVVDJHý'HVFULSWRUýGLVSOD\

$ýPHVVDJHýGHVFULSWRUýLVýWKHýFRQWUROýLQIRUPDWLRQýLQFOXGHGýDVýSDUWýRIýDQý046HULHVýPHVVDJHïýý7KHý6KRZý0HVVDJHý'HVFULSWRUý)LHOGVýER[ýLQýWKHý2SWLRQVýSDQHOýOHWVý\RXýGHVLJQDWHýWKHýPHVVDJHýGHVFULSWRUýILHOGVý\RXýZDQWýWRýVKRZýIRUýHDFKýPHVVDJHïýý0HVVDJHýGHVFULSWRUýILHOGVýDSSHDUýDVýFROXPQVýRQýWKHýTXHXHýZLQGRZïýý<RXýFDQýDOVRýVSHFLI\ýWKHýRUGHUýLQýZKLFKýWKHýILHOGVýDSSHDUïýý

7RýLQFOXGHýDýILHOGñýVHOHFWýWKHýLWHPýDQGýFOLFNý0DUNïýý$QýDVWHULVNýDSSHDUVýQH[WýWRýWKHýLQFOXGHGýILHOGVïýý7RýLQFOXGHýDOOýILHOGVñýFOLFNý$OOâýWRýH[FOXGHýDOOýILHOGVñýFOLFNý1RQHïýý&OLFNý8SýRUý'RZQýDIWHUýVHOHFWLQJýDQýLWHPýWRýUHRUGHUýLWýLQýWKHý4XHXHýZLQGRZïý7KHýPHVVDJHýGHVFULSWRUýILHOGVýDOZD\VýDSSHDUýEHIRUHýDQ\ýPHVVDJHýGDWDýILHOGVýRQýWKHý4XHXHýZLQGRZï

&ROXPQý+HDGLQJý&RORUV

:KHQýDýTXHXHýFRQWDLQVýPHVVDJHVýZLWKýPXOWLSOHýIRUPDWVñýDýFRORUýLVýDVVLJQHGýWRýHDFKýIRUPDWïýý&ROXPQýKHDGLQJVýDQGýPHVVDJHVýIRUýWKDWýIRUPDWýDSSHDUýLQýWKDWýFRORUïý$Vý34(GLWýUHDGVýIURPýWKHýTXHXHñýLWýDVVLJQVýIRUPDWýFRORUVýIURPýWKLVýOLVWýõWKHýILUVWýIRUPDWýJHWVý/LQHýìýFRORUñýWKHýVHFRQGýIRUPDWñý/LQHýëýFRORUñýDQGýVRýRQôïýý7KHý&ROXPQýKHDGLQJýFRORUVýER[ýLQýWKHý2SWLRQVýGLDORJýER[ýOHWVý\RXýUHYLHZýRUýFKDQJHýWKHýGHIDXOWýKHDGLQJýFRORUVýXVHGýIRUýTXHXHVýZLWKýPXOWLSOHýPHVVDJHýIRUPDWVï

7RýFKDQJHýWKHýKHDGLQJýFRORUVñýFOLFNýRQýWKHýOLQHýFRORUý\RXýZDQWýWRýFKDQJHýDQGýVHOHFWýDýQHZýFRORUïý<RXýFDQýVHOHFWýDQ\ýOLQHýLQýWKHýER[ýWRýFKRRVHýDýGLIIHUHQWýOLQHýFRORUýIURPýWKHýGHIDXOWýGLVSOD\HGïý7KHýVDPHýKHDGLQJýFRORUýDQGýPHVVDJHýOLQHýFRORUýLVýXVHGýIRUýHDFKýPHVVDJHýW\SHï

0DUNHGýPHVVDJHýGHVFULSWRUýILHOGV

6HWWLQJý34(GLWý2SWLRQVýõ*8,ô

ìæí &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

0D[LPXPý0HVVDJHVýWRý5HWULHYH

$WýWKHý0D[ý0VJVý7Rý5HWULHYHýILHOGñýHQWHUýWKHýPD[LPXPýQXPEHUýRIýPHVVDJHVýWRýJHWýZKHQýRSHQLQJýRUýUHIUHVKLQJýDýTXHXHïýý(QWHUýDýQXPEHUýEHWZHHQýèííýDQGýìíííýIRUýWKHýEHVWýXVHýRIý046HULHVýDQGýPHPRU\ýUHVRXUFHVïýý,Iý\RXýHQWHUýíñýWKHUHýLVýQRýOLPLWýWRýWKHýQXPEHUýRIýPHVVDJHVýUHWULHYHGï

)250$76ï,1,ýGLUHFWRU\

7KHý)250$76ï,1,ýILOHýGHILQHVýWKHýVWUXFWXUHýRIý\RXUýPHVVDJHýGDWDïý7KLVýILHOGýFRQWDLQVýWKHýGLUHFWRU\ýSDWKýIRUýWKDWýILOHïýý,IýWKLVýILHOGýLVýEODQNñý34(GLWýVHDUFKHVýWKHýSURJUDPýGLUHFWRU\ýIRUýWKHý)250$76ï,1,ýILOHïýý,Iý\RXUý)250$76ï,1,ýILOHýLVýORFDWHGýLQýDQRWKHUýGLUHFWRU\ñýHQWHUýWKHýGLUHFWRU\ýSDWKýKHUHïýý<RXUýPHVVDJHýIRUPDWVýPXVWýEHýVHWýXSýLQýDGYDQFHýIRUý34(GLWýWRýEUHDNýXSý\RXUýDSSOLFDWLRQýGHILQHGýPHVVDJHýGDWDï

&KDUDFWHUýILHOGV

,Iý\RXýHQWHUýGDWDýLQýDýFKDUDFWHUýILHOGýWKDWýLVýVKRUWHUýWKDQýWKHýOHQJWKýRIýWKHýILHOGñý34(GLWýZLOOýSDGýWKHýGDWDýZLWKýHLWKHUýDýEODQNýRUýDýQXOOýFKDUDFWHUïý,QýWKHý2SWLRQVýGLDORJýER[ñýVHOHFWýWKHýILOOýFKDUDFWHUVýWRýXVHã

n 1XOOý)LOO

n %ODQNý)LOO

)RQWV

,Iý\RXýFOLFNýRQýWKHý)RQWVýEXWWRQýDWýWKHýERWWRPýRIýWKHý2SWLRQVýGLDORJýER[ñý34(GLWýGLVSOD\VýDýVWDQGDUGý)RQWVýGLDORJýER[ýWKDWýDOORZVý\RXýWRýFKDQJHýWKHýIRQWýXVHGýLQýWKHý4XHXHýZLQGRZïýý$VýZLWKýRWKHUýRSWLRQýFKDQJHVñýLIý\RXýFKDQJHýWKHýIRQWýGLVSOD\HGñýWKHýFKDQJHýWDNHVýHIIHFWýLPPHGLDWHO\ýIRUýWKHýTXHXHýGLVSOD\HGï

&KDSWHUýìèïý34(GLWý2SWLRQV ìæì

6HWWLQJý34(GLWý2SWLRQVýõ,63)ô

6HWWLQJý34(GLWý2SWLRQVýõ,63)ô

$FFHVVýWKHý2SWLRQVýFRPPDQGýIURPýWKHý7RROVýPHQXýZKHQýXVLQJý34(GLWýXQGHUý,63)ïýý7KHý2SWLRQVýFRPPDQGýLVýXVHGýWRýGLVSOD\ýWKHý2SWLRQVýSDQHOï

n 2SWLRQVýGLDORJýSDQHO

8VHýWKHý2SWLRQVýSDQHOýWRýFKDQJHýGLVSOD\ýDWWULEXWHVýDQGýRSHUDWLQJýFKDUDFWHULVWLFVýRIý34(GLWïýý<RXýFDQýGLVSOD\ýWKHý2SWLRQVýSDQHOýZKHWKHUýRUýQRWý\RXýDUHýFXUUHQWO\ýHGLWLQJýDýTXHXHïý,Iý\RXýPDNHýRSWLRQýFKDQJHVýZKLOHýHGLWLQJýDýTXHXHñýWKRVHýFKDQJHVýWDNHýHIIHFWýLPPHGLDWHO\ï

7KHý2SWLRQVýGLDORJýSDQHOýHQDEOHVý\RXýWRýPDNHýFKDQJHVýWRýWKHýIROORZLQJã

n 'LVSOD\ýRIýTXHXHýILHOGV

n 'LVSOD\ýRIýPHVVDJHýGHVFULSWRUýILHOGV

n )250$76ýGDWDVHWýTXDOLILHUý

n 0D[LPXPýPHVVDJHVýWRýUHWULHYHý

n &KDUDFWHUýILHOGýSDGGLQJ

0HVVDJHý'HVFULSWRUýGLVSOD\

$ýPHVVDJHýGHVFULSWRUýLVýWKHýFRQWUROýLQIRUPDWLRQýLQFOXGHGýDVýSDUWýRIýDQý046HULHVýPHVVDJHïýý7KHý6KRZý0HVVDJHý'HVFULSWRUý)LHOGVýER[ýLQýWKHý2SWLRQVýSDQHOýOHWVý\RXýGHVLJQDWHýWKHýPHVVDJHýGHVFULSWRUýILHOGVý\RXýZDQWýWRýVKRZýIRUýHDFKýPHVVDJHïýý

ïððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððý_ýýýýýýýýýýýýýýýýýýýýýýýýýýý34(GLWýðý2SWLRQVýýýýýýýýýýý5RZýìýWRýæýRIýëëý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý0D[ý0VJVýWRý5HWULHYHýïýïýïýïýïýëííýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý)RUPDWVý'DWDVHWý4XDOLILHUýýïýïý7'04,êï34(9ììíýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý)LOOý&KDUDFWHUýýýýýýýýýýýýýýýý6KRZý0VJ'HVFý)LHOGVýýýýýýýýýýýýýýýýýýýýý_ýìýýýìïýý%ODQNý)LOOýýýýýýýýýýýýêýýýìïýý6KRZý$OOý)LHOGVýýýýýýýýýýýýýýýýý_ýýýýýëïýý1XOOý)LOOýýýýýýýýýýýýýýýýýëïýý6KRZý1Rý)LHOGVýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýêïýý6SHFLI\ýE\ý)LHOGýýýýýýýýýýýýýýýý_ý&PGýý'LVSOD\ý"ýý0VJ'HVFý+HDGLQJýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýý5HSRUWýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýý0VJ7\SHýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýý([SLU\ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýý(QFRGLQJýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýý&RGHG&KDU6HWýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýý)HHGEDFNýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýý)RUPDWýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý_ý&RPPDQGý !ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý6FUROOý !ý3$*(ýýý_ýý)ì +HOSýýýý)ê ([LWýýý)ìë &DQFHOýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý�ððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððð

,63)

6HWWLQJý34(GLWý2SWLRQVýõ,63)ô

ìæë &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

,QýVHWWLQJý\RXUýPHVVDJHýGHVFULSWRUýGLVSOD\ýRSWLRQVý\RXýFDQýFKRRVHýWRýVKRZýDOOýPHVVDJHýGHVFULSWRUýILHOGVñýQRýPHVVDJHýGHVFULSWRUýILHOGVñýRUýVHOHFWHGýPHVVDJHýGHVFULSWRUýILHOGVïý

,Iý\RXýFKRRVHý6SHFLI\ýE\ý)LHOGñý\RXýWKHQýXVHýDýPHVVDJHýGHVFULSWRUýGLVSOD\ýVHOHFWLRQýIHDWXUHýWRýVHOHFWýDQGýRUGHUýWKHýPHVVDJHýGHVFULSWRUýILHOGVýWKDWýDSSHDUýLQýWKHý4XHXHýSDQHOïýý7KHýPHVVDJHýGHVFULSWRUýILHOGVýDSSHDUýDVýFROXPQVýRQýWKHý4XHXHýZLQGRZïýý<RXýFDQýDOVRýVSHFLI\ýWKHýRUGHUýLQýZKLFKýWKHýILHOGVýDSSHDUïý

0HVVDJHýGHVFULSWRUýILHOGVýDOZD\VýDSSHDUýEHIRUHýDQ\ýPHVVDJHýGDWDýILHOGVýRQýWKHýTXHXHýZLQGRZï

6SHFLI\ýWKHýRUGHUýRIýýWKHýPHVVDJHýGHVFULSWRUýILHOGVýLQýWKHý4XHXHýZLQGRZýE\ýHQWHULQJýDQý0ýõ0RYHôýOLQHýFRPPDQGýLQýWKHý&PGýFROXPQýRQýWKHýVDPHýOLQHýDVýWKHý0HVVDJHý'HVFULSWRUý+HDGLQJý\RXýZDQWýWRýPRYHïýý7KHQÈýHQWHUýDQý$ýõ$IWHUôýRUý%ýõ%HIRUHôýWRýVSHFLI\ýWKHýOLQHýZKHUHý\RXýZDQWýWKHýPHVVDJHýGHVFULSWRUýPRYHGñýDQGýZKHWKHUý\RXýZDQWýWKHýPRYHGýPHVVDJHýGHVFULSWRUýWRýEHýSODFHGýEHIRUHýRUýDIWHUýWKHýOLQHý\RXýDUHýVSHFLI\LQJï

&ROXPQý+HDGLQJý/DEHOV

:KHQýDýTXHXHýFRQWDLQVýPHVVDJHVýZLWKýPXOWLSOHýIRUPDWVñýDQýDOSKDEHWLFýFKDUDFWHUýLVýDVVLJQHGýWRýODEHOýHDFKýIRUPDWïýý7KHýFROXPQýKHDGLQJVýDQGýPHVVDJHVýIRUýWKDWýIRUPDWýDUHýODEHOHGýZLWKýWKDWýLGHQWLILHUïýý$Vý34(GLWýUHDGVýIURPýWKHýTXHXHñýLWýDVVLJQVýIRUPDWýODEHOVýWRýDGGLWLRQDOýIRUPDWVýõWKHýILUVWýIRUPDWýLVýODEHOHGý$ñýWKHýVHFRQGýIRUPDWý%ñýDQGýVRýRQôï

6KRZý0VJ'HVFý)LHOGVýýýýýýýýêýýýìïýý6KRZý$OOý)LHOGVýýýýýýýýëïýý6KRZý1Rý)LHOGVýýýýýýýýýêïýý6SHFLI\ýE\ý)LHOGý

&PGýý'LVSOD\ý"ýý0VJ'HVFý+HDGLQJýýýýýýýýýýýýýýýýýý5HSRUWýýýýýýýýýýýýýýýýýýýýýýýýýýý0VJ7\SHýýýýýýýýýýýýýýýýýýýýýýýýýý([SLU\ýýýýýýýýýýýýýýýýýýýýýýýýýýý(QFRGLQJýýýýýýýýýýýýýýýýýýýýýýýýý&RGHG&KDU6HWýýýýýýýýýýýýýýýýýýýýý)HHGEDFNýýýýýýýýýýýýýýýýýýýýýýýýý)RUPDW

&PGýý'LVSOD\ý"ýý0VJ'HVFý+HDGLQJýýýýýýýýýýýýýýýýýý5HSRUWýýýýýýýýýýý0ýýýýîýýýýýýýýýý0VJ7\SHýýýýýýýýýýýýýýýýýýýýýýýýýý([SLU\ýýýýýýýýýýý$ýýýýîýýýýýýýýýý(QFRGLQJýýýýýýýý

&KDSWHUýìèïý34(GLWý2SWLRQV ìæê

6HWWLQJý34(GLWý2SWLRQVýõ,63)ô

0D[LPXPý0HVVDJHVýWRý5HWULHYH

$WýWKHý0D[ý0VJVý7Rý5HWULHYHýILHOGñýHQWHUýWKHýPD[LPXPýQXPEHUýRIýPHVVDJHVýWRýJHWýZKHQýRSHQLQJýDýTXHXHïýý(QWHUýDýQXPEHUýEHWZHHQýèííýDQGýìíííýIRUýWKHýEHVWýXVHýRIý046HULHVýDQGýPHPRU\ýUHVRXUFHVïýý,Iý\RXýHQWHUýíñýWKHUHýLVýQRýOLPLWýWRýWKHýQXPEHUýRIýPHVVDJHVýUHWULHYHGï

)RUPDWVý'DWDVHWý4XDOLILHU

7KHý)250$76ýGDWDVHWýGHILQHVýWKHýVWUXFWXUHýRIý\RXUýPHVVDJHýGDWDVHWïýý7KLVýILHOGýFRQWDLQVýWKHýKLJKýOHYHOýTXDOLILHUýIRUýWKHý)250$76ýGDWDVHWïýý

,IýWKHý)RUPDWVý'DWDVHWý4XDOLILHUýILHOGýLVýEODQNñý34(GLWýXVHVýWKHýKLJKýOHYHOýTXDOLILHUýRIý\RXUýSURGXFWýGDWDVHWýDVýWKHýGDWDVHWýTXDOLILHUýIRUýWKHý)250$76ýGDWDVHWïýý,Iý\RXUý)250$76ýGDWDVHWýLVýORFDWHGýLQýDQRWKHUýGLUHFWRU\ñýHQWHUýWKHýKLJKýOHYHOýTXDOLILHUýKHUHïýý<RXUýPHVVDJHýIRUPDWVýPXVWýEHýVHWýXSýLQýDGYDQFHýIRUý34(GLWýWRýEUHDNýXSý\RXUýDSSOLFDWLRQýGHILQHGýPHVVDJHýGDWDï

)LOOý&KDUDFWHU

,Iý\RXýHQWHUýGDWDýLQýDýFKDUDFWHUýILHOGýWKDWýLVýVKRUWHUýWKDQýWKHýOHQJWKýRIýWKHýILHOGñý34(GLWýZLOOýSDGýWKHýGDWDýZLWKýHLWKHUýDýEODQNýRUýDýQXOOýFKDUDFWHUïýý6HOHFWýWKHýILOOýFKDUDFWHUýWRýXVHã

n 1XOOý)LOO

n %ODQNý)LOO

ý)LOHýý6HDUFKýý7RROVýý+HOSððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððððýýýý34(GLWýðý,192,&(6B'ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý

&PGVãý,ý,QVýýý5ý5HSýýý)ý)ZGýýý+ýý+H[(GLWý0VJýýý=ýý,63)ý(GLWý0VJýýýýýýýýýýýýýýýýýýýýýý'ý'HOýýý*ý*Rýýýýýýýýýýýý+Qý+H[(GLWý&ROýQý=Qý,63)ý(GLWý&ROýQýýýý0RUHãýýý!ýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýìýýýýýýýýýýëýýýýýýýýýýýêýýýýýýýýýýýýýýýýýéýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý0VJ7\SHýýýý)RUPDWýýýýýý,QYïý,'ýýýýýýýýýýý&RPSDQ\ýýýýýýýýýýýýýýýýýýýýýýýýýýý%ýýýýýýýýýýýýýýýýýýýýýý,QYRLFHB1XPEHUýýýýýý,WHPB1XPEHUýýý&PGý6WDWXVý&ýýýýýýýýýýýýýýýýýýýýýý,QYRLFHB1XPEHUýýýýýý&XVWB1XPEHUýýýýýýýýýýýýýýýýýýýííííìýýý'DWDJUDPýýýýýýýýýýýýýéèèäýýýýýýýýýýý(9ý(OHFWURQLFýýýýýýýýýýýýýýýýýýýýýýííííëýýý'DWDJUDPýýýýýýýýýýýýýèçèçýýýýýýýýýýý(9ý(OHFWURQLFýýýýýýýýýýýýýýýýýýýýýýííííêýýý'DWDJUDPýýýýýýýýýýýýýééèçýýýýýýýýýýý0XPIRUGý3LODVWHUýýýýýýýýýýýýýýýýýýýííííéýýý'DWDJUDPýýýýýýýýýýýýýééèéýýýýýýýýýýý;LURFý,QFïýýýýýýýýýýýýýýýýýýýýýýýýýííííèýýý'DWDJUDPýýýýýýýýýýýýýèèçæýýýýýýýýýýý7ULRQý6SHHGýýýýýýýýýýýýýýýýýýýýýýýýííííçý%ý'DWDJUDPýýýý'21ëýýýýýçæéäéåèäéýýýýýýèèäèýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííæý&ý'DWDJUDPýýýý'21ìýýýýýçæèéäççäëýýýýýýèèçççýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýííííåýýý'DWDJUDPýýýýýýýýýýýýýçççäýýýýýýýýýýý3DUNHUð)OXPHý&RQVWïýýýýýýýýýýýýýýýýýýýýýýýýóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóóó

0HVVDJHVýLQýDGGLWLRQDOýIRUPDWVï

$GGLWLRQDOýKHDGLQJVýIRUýPXOWLSOHýPHVVDJHýIRUPDWVï

6HWWLQJý34(GLWý2SWLRQVýõ,63)ô

ìæé &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

&DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH ìæè

$SSHQGL[ý$ï0HVVDJHV

7KLVýDSSHQGL[ýSURYLGHVýDýOLVWýRIýHUURUýPHVVDJHVýUHODWHGýWRý34(GLWýDQGýHUURUýPHVVDJHVýWKDWýDUHýVHQWýE\ý046HULHVïýý7KHýPHVVDJHVýDUHýOLVWHGýLQýQXPEHUýIRUPDWýDQGýDUHýRUJDQL]HGýDVýIROORZVã

0HVVDJHý7\SH 0HVVDJHý)RUP

34(GLWý(UURUý0HVVDJHV èQQQ

046HULHVý ëQQQéQQQ

34(GLWý096ý0HVVDJHV .0'QQQ

$

ìæç &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

34(GLWý(UURUý0HVVDJHV

7KLVýVHFWLRQýSURYLGHVýDýOLVWýRIý34(GLWýHUURUýPHVVDJHVýDORQJýZLWKýDQýH[SODQDWLRQýRIýýZK\ýWKHýPHVVDJHýRFFXUUHGýDQGýWKHýDSSURSULDWHýXVHUýDFWLRQýWRýUHVSRQGýWRýWKHýPHVVDJHïýý7KHýHUURUýPHVVDJHVýJHQHUDWHGýLQýWKHý34(GLWýDSSOLFDWLRQýDUHýRIýWKHýIRUPýèQQQïýý$GGLWLRQDOý046HULHVýFRGHVýDUHýLQýWKHýIROORZLQJýVHFWLRQVï

n 34(GLWýèQQQý(UURUý0HVVDJHV

èííí 046HULHVýHUURUïý&RPS&RGHãýõFRGHýFRGHôñý5HDVRQãýõUHDVRQýFRGHô

([SODQDWLRQãýý$Qý046HULHVýHUURUýKDVýEHHQýGHWHFWHGï

8VHUý$FWLRQãýý:ULWHýGRZQýWKHý&RPS&RGHýDQGý5HDVRQýFRGHýDQGýFRQVXOWý046HULHVýGRFXPHQWDWLRQýVXFKýDVý046HULHVýIRUý096î(6$ý9HUVLRQýìý5HOHDVHýìïéý0HVVDJHVýDQGý&RGHVýõ*&êêðíåìäôïý

èííì 4XHXHýLQýXVHï

([SODQDWLRQãýý7KHýTXHXHý\RXýDUHýWU\LQJýWRýDFFHVVýKDVýEHHQýRSHQHGýE\ýDQRWKHUýXVHUï

8VHUý$FWLRQãýý:DLWýXQWLOýWKHýTXHXHýLVýFORVHGýDQGýWU\ýWRýRSHQýLWýDJDLQñýRUýWU\ýRSHQLQJýWKHýTXHXHýZLWKýWKHý2SHQý5HDGý2QO\ýFKHFNER[ýVHOHFWHGýLQýWKHý2SHQý4XHXHýGLDORJýER[ï

èííè &RPPDQGý6HUYHUýQRWýUHVSRQGLQJ

([SODQDWLRQãýý7KHýFRPPDQGýVHUYHUýKDVýQRWýEHHQýVWDUWHGñýRUýLVýUXQQLQJýEXWýH[FHHGHGýìíýVHFRQGýXSðGDWHýLQWHUYDOïï

8VHUý$FWLRQãýý6WDUWýWKHýFRPPDQGýVHUYHUýIRUýWKHýTXHXHýPDQDJHUýXVLQJýWKHý67504&69ýTXHXHBPDQDJHUýFRPPDQGýDQGýUHWU\ï

èííç ,QWHUQDOý(UURUýõSUREOHPýLGHQWLILHUô

([SODQDWLRQãýý$QýHUURUýKDVýEHHQýGHWHFWHGýLQý046HULHVýRUý34(GLWï

8VHUý$FWLRQãýý5HFRUGýWKHýSUREOHPýLGHQWLILHUýDQGýVDYHýWKHýJHQHUDWHGýRXWSXWýILOHVïýý&RQWDFWý&DQGOHý6XSSRUWý&HQWHUï

èííæ 8QDEOHýWRýZULWHýWRýWHPSRUDU\ýILOHïý&RQWDFWýWHFKQLFDOýVXSSRUWï

([SODQDWLRQãýý34(GLWýXVHVýDýWHPSRUDU\ýILOHýWRýVWRUHýWKHýFRQWHQWVýRIýWKHýTXHXHýZKLOHýHGLWLQJïýý:KLOHýZULWLQJýWRýWKLVýILOHñýDýGLVNýSUREOHPýRFFXUUHGýVXFKýDVýDýODFNýRIýGLVNýVSDFHïý

8VHUý$FWLRQãýý)UHHýXSýORFDOýGLVNýVSDFHýDQGýUHWU\ï

èííå (UURUýRSHQLQJý4XHXHýIRUýRXWSXWïý2SHQLQJýIRUýLQSXWï

([SODQDWLRQãýý6RPHRQHýKDVýRSHQHGýWKHýTXHXHýIRUý387ðH[FOXVLYHï

8VHUý$FWLRQãýý1RýXVHUýDFWLRQýQHHGHGïýý34(GLWýWULHVýWRýRSHQýWKHýTXHXHýDXWRPDWLFDOO\ýIRUýUHDGýRQO\ñýEXWý\RXýZLOOýQRWýEHýDEOHýWRýFKDQJHýRUýLQVHUWýPHVVDJHVýLQýWKHýTXHXHï

èíìí 8QDEOHýWRýVDYHýXVHUýSURILOHïý&RQWDFWýWHFKQLFDOýVXSSRUWï

([SODQDWLRQãýý7KHUHýZDVýDQýHUURUýZKHQý34(GLWýWULHGýWRýZULWHýWRýWKHý5HJLVWU\ýRUýWKHý,1,ýILOHýWKDWýFRQWDLQVý\RXUý34(GLWýSURILOHýVHWWLQJVïý

8VHUý$FWLRQãý&RQWDFWý&DQGOHý6XSSRUWý&HQWHUï

èíìì (UURUãý8QDEOHýWRýRSHQýDýWHPSRUDU\ýILOHï

([SODQDWLRQãýý34(GLWýXVHVýDýWHPSRUDU\ýILOHýWRýVWRUHýWKHýFRQWHQWVýRIýWKHýTXHXHýZKLOHýHGLWLQJïýý:KLOHýRSHQLQJýWKLVýILOHýDýGLVNýSUREOHPýRFFXUUHGýVXFKýDVýDýODFNýRIýGLVNýVSDFHïý

8VHUý$FWLRQãýý)UHHýXSýORFDOýGLVNýVSDFHýDQGýUHWU\ï

ìææ

èíìë 8QDEOHýWRýUHDGýIURPýWHPSRUDU\ýILOHïýý&RQWDFWýWHFKQLFDOýVXSSRUWï

([SODQDWLRQãýý34(GLWýXVHVýDýWHPSRUDU\ýILOHýWRýVWRUHýWKHýFRQWHQWVýRIýWKHýTXHXHýZKLOHýHGLWLQJïýý:KLOHýUHDGLQJýIURPýWKLVýILOHýDýGLVNýSUREOHPýRFFXUUHGýVXFKýDVýDýODFNýRIýGLVNýVSDFHïý

8VHUý$FWLRQãýý)UHHýXSýORFDOýGLVNýVSDFHýDQGýUHWU\ýRUýFRQWDFWý&DQGOHý6XSSRUWý&HQWHUï

èíìê (UURUãý8QDEOHýWRýRSHQýILOHýIRUýXQORDGLQJï

([SODQDWLRQãýý$QýHUURUýRFFXUUHGýZKHQý34(GLWýWULHGýWRýRSHQýDýILOHýIRUýXQORDGLQJïýý7KLVýHUURUýFDQýRFFXUýLIý\RXUýORFDOýGLVNýLVýIXOOýRUýIRUýVRPHýUHDVRQý34(GLWýLVýXQDEOHýWRýFUHDWHýDýORFDOýILOHýRQý\RXUýV\VðWHPñýSRVVLEO\ýEHFDXVHý\RXýGRýQRWýKDYHýWKHýULJKWýDXWKRULW\ï

8VHUý$FWLRQãýý9HULI\ýWKDWý\RXýKDYHýWKHýDXWKRULW\ýWRýFUHDWHýWKHýXQORDGýILOHýDQGýWKHUHýLVýHQRXJKýGLVNýVSDFHýWRýKROGýWKHýILOHï

èíìé (UURUãý8QDEOHýWRýUHDGýPHVVDJHýIURPýILOHïý0HVVDJHý&OLSSHGï

([SODQDWLRQãýý:KLOHýORDGLQJýPHVVDJHVýIURPýDQýXQORDGýILOHñý34(GLWýGLVFRYHUHGýWKDWýWKHýILOHýLVýFRUðUXSWHGïý8VHUý$FWLRQãýý7KLVýXQORDGýILOHýLVýXQXVDEOHïýý,IýSRVVLEOHñýDWWHPSWýWRýXQORDGýWKHýTXHXHýDJDLQï

èíìè (UURUýSDUVLQJý0HVVDJHý)LOWHUýH[SUHVVLRQï

([SODQDWLRQãýý7KHýILOWHUýH[SUHVVLRQý\RXýHQWHUHGýLVýQRWýYDOLGï

8VHUý$FWLRQãýý'HOHWHýWKHýH[SUHVVLRQýDQGýHQWHUýDýYDOLGýILOWHUýVWDWHPHQWï

èíìç (UURUãý3DUHQWKHVLVýH[SHFWHGýLQý)LOWHUï

([SODQDWLRQãýý<RXýHQWHUHGýDýSDUHQWKHVLVýZLWKRXWýHQWHULQJýDýFORVLQJýSDUHQWKHVLVñýRUýYLFHýYHUVDï

8VHUý$FWLRQãýý(QWHUýWKHýPLVVLQJýSDUHQWKHVLVñýRUýGHOHWHýDQGýUHHQWHUýWKHýH[SUHVVLRQýFRUUHFWO\ï

èíìæ 0LVVLQJýRUýPLVSODFHGýFRQMXQFWLYHýLQý0HVVDJHý)LOWHUï

([SODQDWLRQãýý7KHýILOWHUýVWDWHPHQWýHQWHUHGýUHTXLUHVýDýFRQMXQFWLYHýRUýKDVýDýPLVSODFHGýFRQMXQFWLYHï

8VHUý$FWLRQãýý(QWHUýWKHýUHTXLUHGýFRQMXQFWLYHýRUýGHOHWHýDQGýHQWHUýDýFRUUHFWýPHVVDJHýILOWHUï

èíìå (UURUãý8QDEOHýWRýRSHQý0HVVDJHý)LOWHUýILOHï

([SODQDWLRQãýý7KHýILOWHUýILOHýVSHFLILHGýZKHQýDWWHPSWLQJýWRýRSHQýDýILOWHUýILOHýLVýFRUUXSWHGýRUýXQUHFðRJQL]HGïý

8VHUý$FWLRQãýý9HULI\ýWKDWýWKHýILOWHUýILOHýQDPHýLVýFRUUHFWýDQGýUHHQWHUýDýFRUUHFWý0HVVDJHý)LOWHUýILOHýQDPHï

èíìä (UURUãý8QDEOHýWRýXQORDGý0HVVDJHý)LOWHUï

([SODQDWLRQãý7KHýILOHýQDPHý\RXýVSHFLILHGýLQýVDYLQJý\RXUý0HVVDJHý)LOWHUýILOHýLVýLQYDOLGï

8VHUý$FWLRQãý(QWHUýWKHýFRUUHFWý0HVVDJHý)LOWHUýILOHýDQGýPDNHýVXUHýWKHýILOHýQDPHýKDVýWKHýïIWUýVXIIL[ï

èíëí (UURUãý8QDEOHýWRýORDGý0HVVDJHý)LOWHUï

([SODQDWLRQãý7KHýILOHýQDPHý\RXýVSHFLILHGýLQýXQORDGLQJý\RXUý0HVVDJHý)LOWHUýILOHýLVýLQYDOLGýRUýWKHýILOHýLVýFRUUXSWHGï

8VHUý$FWLRQãý,IýWKHýILOHýLVýQRWýFRUUXSWHGñýHQWHUýWKHýFRUUHFWý0HVVDJHý)LOWHUýILOHýQDPHýIRUýWKHýILOHý\RXýZDQWýWRýORDGýDQGýPDNHýVXUHýWKHýILOHýQDPHýKDVýWKHýïIWUýVXIIL[ï

èíëì &DQQRWýILQGýõVHDUFKýWH[Wô

([SODQDWLRQãýý7KHý)LQGýRUý5HSODFHýFRPPDQGýZDVýXQDEOHýWRýILQGýWKHýUHTXHVWHGýVHDUFKýWH[Wïýý

8VHUý$FWLRQãýý,Iý\RXýZHUHýH[SHFWLQJýWRýILQGýWKHýVSHFLILHGýWH[WñýYHULI\ýWKDWý\RXUýVHDUFKýWH[WýZDVýFRUðUHFWýDQGý\RXýDUHýVHDUFKLQJýWKHýFRUUHFWýFROXPQïýý

ìæå &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

èíëë &RQWLQXHýVHDUFKýDWýõWRSýRUýERWWRPôýRIýTXHXHï

([SODQDWLRQãýý34(GLWýKDVýVHDUFKHGýDOOýWKHýZD\ýWRýWKHýERWWRPýRUýWRSýRIýWKHýTXHXHýIURPýVRPHýSRLQWýLQýWKHýTXHXHïýý<RXýDUHýSURPSWHGýWRýFRQWLQXHýVHDUFKLQJýWKHýUHPDLQGHUýRIýWKHýTXHXHï

8VHUý$FWLRQãýý&OLFNýRQý<HVýWRýFRQWLQXHýWKHýVHDUFKýIURPýWKHýWRSýRUýERWWRPýRIýWKHýTXHXHñýRUýFOLFNýRQý1RýLIý\RXýGRýQRWýZDQWýWRýFRQWLQXHýWKHýVHDUFKï

èíëê (QWLUHýTXHXHýKDVýEHHQýVHDUFKHGï

([SODQDWLRQãýý$OOýUHFRUGVýLQýWKHýTXHXHýKDYHýEHHQýVHDUFKHGï

8VHUý$FWLRQãýý1RýXVHUýDFWLRQýUHTXLUHGï

èíëé õQXPEHUýRIýRFFXUUHQFHVôýRFFXUUHQFHVýUHSODFHGï

([SODQDWLRQãýý7KHýVSHFLILHGýQXPEHUýRIýRFFXUUHQFHVýRIýWKHýVHDUFKHGýWH[WýZHUHýUHSODFHGýZLWKýWKHýUHSODFHPHQWýWH[WýVSHFLILHGï

8VHUý$FWLRQãýý1RýXVHUýDFWLRQýUHTXLUHGï

èíëè ,QYDOLGýILHOGýQDPHï

([SODQDWLRQãýý$QýLQYDOLGýILHOGýQDPHýZDVýHQWHUHGýRQýDýILOWHUýH[SUHVVLRQï

8VHUý$FWLRQãýý'HOHWHýWKHýH[SUHVVLRQýDQGýUHHQWHUýWKHýFRUUHFWýILHOGýQDPHýLQýWKHýILOWHUýH[SUHVVLRQï

èíëç ,QYDOLGýYDOXHï

([SODQDWLRQãý$QýLQYDOLGýILHOGýYDOXHýZDVýHQWHUHGýRQýDýILOWHUýH[SUHVVLRQï

8VHUý$FWLRQãý'HOHWHýWKHýH[SUHVVLRQýDQGýUHHQWHUýWKHýFRUUHFWýILHOGýYDOXHýLQýWKHýILOWHUýH[SUHVVLRQï

èíëæ 5ROOEDFNýDOOýFKDQJHVý"

([SODQDWLRQãýý5ROOEDFNýZDVýVHOHFWHGýIURPýWKHý)LOHýPHQXýIRUýDýTXHXHýEHLQJýHGLWHGýXQGHUýV\QFSRLQWýFRQWUROï

8VHUý$FWLRQãýý&OLFNýRQý<HVýWRýUROOEDFNýWKHýFKDQJHVýPDGHýWRýWKHýTXHXHñýRUýFOLFNýRQý1RýWRýOHDYHýWKHýTXHXHýXQFKDQJHGïý

èíëå 0D[LPXPýQXPEHUýRIýPHVVDJHVýUHWULHYHGï

([SODQDWLRQãýý34(GLWýKDVýUHWULHYHGýWKHýPD[LPXPýQXPEHUýRIýPHVVDJHVýSHUPLWWHGïýý7KHý4XHXHýZLQðGRZýGRHVýQRWýFRQWDLQýDOOýWKHýPHVVDJHVýRIýýWKHýTXHXHï

8VHUý$FWLRQãýý,Iý\RXýZDQWýWRýUHWULHYHýPRUHýPHVVDJHVýWKDQýWKHýPD[LPXPñýHQWHUýDýKLJKHUýQXPEHUýRIýPHVVDJHVýDWýWKHý0D[ý0VJý7Rý5HWULHYHýILHOGýRQýWKHý2SWLRQVýGLDORJýER[ï

èíëä (UURUãý8QDEOHýWRýORDGýOLEUDU\ýõOLEUDU\ýQDPHôï

([SODQDWLRQãýý34(GLWýLVýDWWHPSWLQJýWRýORDGýDQý046HULHVýOLEUDU\ýQHHGHGýIRUýRSHUDWLRQýDQGýLWýFDQQRWýILQGýWKHý046HULHVýILOHVýLQýWKHýFXUUHQWýSDWKïýý

8VHUý$FWLRQãýý(QVXUHýWKDWý046HULHVýLVýSURSHUO\ýLQVWDOOHGýRQýWKLVýPDFKLQHýDQGýWKDWýWKHý046HULHVýOLEUDULHVýDUHýDFFHVVLEOHï

èíêí (UURUãý8QDEOHýWRýILQGýIXQFWLRQýõIXQFWLRQýQDPHôýLQýOLEUDU\ýõOLEUDU\ýQDPHôï

([SODQDWLRQãýý34(GLWýLVýDWWHPSWLQJýWRýORDGýDQý046HULHVýOLEUDU\ýQHHGHGýIRUýRSHUDWLRQïýý7KHý046HULHVýOLEUDU\ýDSSHDUVýWRýEHýFRUUXSWïýý

8VHUý$FWLRQãýý5HLQVWDOOý046HULHVýWRýUHSODFHýWKHýFRUUXSWHGýOLEUDU\ï

èíêì (UURUãý8QDEOHýWRýRSHQý)250$76ï,1,ýILOHï

([SODQDWLRQãý(LWKHUýWKHý)250$76ï,1,ýILOHýFDQQRWýEHýIRXQGýLQýWKHý34(GLWýGLUHFWRU\ñýRUýLWýFDQQRWýEHýIRXQGýLQýýWKHýGLUHFWRU\ý\RXýVSHFLILHGýLQýWKHý)RUPDWVïLQLý'LUHFWRU\ýILHOGýRQýWKHý2SWLRQVýGLDORJýER[ïýý34(GLWýFDQQRWýRSHUDWHýZLWKRXWýDý)RUPDWVïLQLýILOH

8VHUý$FWLRQãýý(LWKHUýUHVWRUHýWKHý)RUPDWVïLQLýILOHýWRýWKHý34(GLWýGLUHFWRU\ñýRUýFRUUHFWýWKHý)RUPDWVïLQLýGLUHFWRU\ýLQýWKHý2SWLRQVýGLDORJýER[ï

ìæä

èíêë 1Rý)LQGî5HSODFHýWH[WýVSHFLILHGï

([SODQDWLRQãýý$ý)LQGýRUý5HSODFHýFRPPDQGýZDVýHQWHUHGýZLWKRXWýWKHýWH[WýWRýEHýIRXQGýRUýUHSODFHGïý

8VHUý$FWLRQãýý&KRRVHýWKHý)LQGýRUý5HSODFHýFRPPDQGýDQGýHQWHUýWKHýWH[WýWRýEHýORFDWHGýRUýWKHýUHSODFHðPHQWýWH[Wï

èíêê (UURUãý8QDEOHýWRýRSHQý34(GLWýNH\ýILOHï

([SODQDWLRQãýý7KHý34(GLWýNH\ýILOHýLVýPLVVLQJýRUýFRUUXSWHGï

8VHUý$FWLRQãýý&RQWDFWý&DQGOHý6DOHVý6XSSRUWýIRUýLQIRUPDWLRQýRQýKRZýWRýREWDLQýDýYDOLGýNH\ï

èíêé (UURUãý8QDEOHýWRýUHDGý34(GLWýNH\ýILOHï

([SODQDWLRQãýý7KHý34(GLWýNH\ýILOHýLVýFRUUXSWï

8VHUý$FWLRQãýý&RQWDFWý&DQGOHý6XSSRUWý&HQWHUï

èíêè (UURUãý,QYDOLGý3URGXFWý.H\ïý&RQWDFWý&DQGOHý6XSSRUWý&HQWHUï

([SODQDWLRQãýý7KHý34(GLWýSURGXFWýNH\ýLVýH[SLUHGñýLQYDOLGñýRUýFRUUXSWHGïýý

8VHUý$FWLRQãýý(QVXUHýWKDWýWKHý.(<ï7;7ýILOHýH[LVWVýLQýWKHý34(GLWýGLUHFWRU\ïýý,IýQHFHVVDU\ñýFRQWDFWýWKHý&DQGOHý6XSSRUWý&HQWHUï

èíêç 34(GLWýKDVýH[SLUHGïý&RQWDFWý&DQGOHý6RIWZDUHý6DOHVý6XSSRUWï

([SODQDWLRQãýý7KHý34(GLWýWULDOýNH\ýKDVýH[SLUHGï

8VHUý$FWLRQãýý&RQWDFWý&DQGOHý6DOHVý6XSSRUWýIRUýLQIRUPDWLRQýRQýKRZýWRýREWDLQýDýYDOLGýNH\ï

èíêæ :DUQLQJãý34(GLWýH[SLUHVýLQýõQXPEHUýRIýGD\VôýGD\Vï

([SODQDWLRQãýý7KHý34(GLWýWULDOýNH\ýZLOOýH[SLUHýLQýWKHýQXPEHUýRIýGD\VýLQGLFDWHGï

8VHUý$FWLRQãýý&RQWDFWýWKHý&DQGOHý6XSSRUWý&HQWHUýEHIRUHýWKHýH[SLUDWLRQýRIýWKHýWULDOýNH\ï

èíêå :DUQLQJãý34(GLWýH[SLUHVýDWýWKHýHQGýRIýWKHýGD\ï

([SODQDWLRQãýý<RXýDUHýRQýWKHýODVWýGD\ýRIý\RXUý34(GLWý7ULDOý.H\

8VHUý$FWLRQãýý&RQWDFWý&DQGOHý6DOHVý6XSSRUWýWRýJHWýDýQHZýNH\ï

èíêä :DUQLQJãý&DQQRWýRSHQýIRUýEURZVHïý&RQWLQXHýDVýRXWSXWýRQO\"ý

([SODQDWLRQãýý7KHýTXHXHý\RXýDUHýWU\LQJýWRýRSHQýGRHVýQRWýDOORZý*(7Vï

8VHUý$FWLRQãýý&OLFNýRQý<(6ýLIý\RXýZDQWýWRýRSHQýWKHýTXHXHýIRUýLQSXWýRQO\ñýRUýFOLFNýRQý12ýWRýQRWýRSHQýWKHýTXHXHï

èíéí 7KHýGLVSOD\ýGRHVQöWýPDWFKýWKHýTXHXHïýý6HOHFWý5HIUHVKñý&RPPLWýRUý5ROOðEDFNýIURPýWKHý)LOHýPHQXï

([SODQDWLRQãýý34(GLWýGHWHFWHGýDýGLVFUHSDQF\ýEHWZHHQýWKHý4XHXHýZLQGRZýDQGýWKHýDFWXDOýFRQWHQWVýRIýWKHýTXHXHïýý

8VHUý$FWLRQãýý6HOHFWý5HIUHVKñý&RPPLWñýRUý5ROOEDFNýWRýUHV\QFKURQL]HýWKHýGLVSOD\ýZLWKýWKHýTXHXHï

èíéì &OLHQWý4XHXHý0DQDJHUýFRQQHFWLRQýQRWýDOORZHGï

([SODQDWLRQãýý<RXýDWWHPSWHGýDQý046HULHVýFOLHQWýFRQQHFWLRQýDQGýWKHýFOLHQWýFRPSRQHQWýZDVýQRWýIRXQGï

8VHUý$FWLRQãýý9HULI\ý\RXUý046HULHVýFOLHQWýFRQQHFWLRQï

èíéë /RFDOý4XHXHý0DQDJHUýFRQQHFWLRQýQRWýDOORZHGï

([SODQDWLRQãýý34(GLWýFRXOGýQRWýFRQQHFWýWRýWKHýORFDOýTXHXHýPDQDJHUïýý2QHýSRVVLEOHýUHDVRQýLVýWKDWýDýORFDOýTXHXHýPDQDJHUýKDVýQRWýEHHQýLQVWDOOHGýRQýWKLVýPDFKLQHï

8VHUý$FWLRQãýý,QVWDOOýWKHýORFDOýTXHXHýPDQDJHUýRUýXVHýDQý046HULHVýFOLHQWýFRQQHFWLRQï

ìåí &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

èíéê &DQQRWýSHUIRUPýRSHUDWLRQVýRQýXQFRPPLWWHGýPHVVDJHVïý&RPPLWýPHVVDJðHVýDQGýUHWU\ï

([SODQDWLRQãýý<RXýDWWHPSWHGýDQýRSHUDWLRQýRQýPHVVDJHVýWKDWýKDYHýQRWý\HWýEHHQýFRPPLWWHGï

8VHUý$FWLRQãýý&KRRVHý&RPPLWýIURPýWKHý)LOHýPHQXýDQGýUHWU\ýWKHýRSHUDWLRQï

èíéé 'XSOLFDWHý)RUPDWýõIRUPDWýQDPHôýH[LVWVýDQGýZLOOýQRWýEHýXVHGï

([SODQDWLRQãýý<RXýVSHFLILHGýPRUHýWKDQýRQHýIRUPDWýZLWKýWKHýVDPHýQDPHýLQý\RXUý)250$76ï,1,ýILOHïýý7KHýGXSOLFDWHýIRUPDWýLVýQRWýXVHGýE\ý34(GLWï

8VHUý$FWLRQãýý(GLWýWKHý)250$76ï,1,ýILOHýDQGýUHPRYHýDQ\ýGXSOLFDWHýOD\RXWýVSHFLILFDWLRQVï

èíéè (UURUãý,OOHJDOýNH\ZRUGýõNH\ZRUGôýIRXQGýRQýOLQHýõOLQHýQXPEHUôýLQý)250$76ýILOHïý7KLVýOLQHýZLOOýEHýLJQRUHGï

([SODQDWLRQãýý7KHýVSHFLILHGýNH\ZRUGýRQýWKHýGHVLJQDWHGýOLQHýRIýWKHý)250$76ï,1,ýILOHýLVýLOOHJDOïýý34(GLWýFRQWLQXHVýEXWýLJQRUHVýWKHýLOOHJDOýVWDWHPHQWýLQý)250$76ï,1,ï

8VHUý$FWLRQãýý(GLWýWKHý)250$76ï,1,ýILOHýDQGýHQWHUýWKHýFRUUHFWýNH\ZRUGïý

èíéç 04675ýILHOGýFRQWDLQVý18//ïýý8VHý(GLWý0HVVDJHýLQý+H[ïý

([SODQDWLRQãýý7KHý04675ýILHOGý\RXýDUHýDWWHPSWLQJýWRýHGLWýFRQWDLQVýHPEHGGHGý18//Vï

8VHUý$FWLRQãýý'RýQRWýHGLWýWKLVýILHOGýLQý+H[ïýý,Iý\RXýQHHGýWRýHGLWýWKHýILHOGñýXVHýWKHý(GLWý0HVVDJHýLQý+H[ýFRPPDQGýDQGýORFDWHýWKHýILHOGýXVLQJýWKHýILHOGöVýRIIVHWýLQýWKHýPHVVDJHýGDWDï

èíéæ 046HULHVý4XHXHý0DQDJHUýRUýFOLHQWýFRQQHFWLRQýQRWýIRXQGï

([SODQDWLRQãýý34(GLWýFDQQRWýFRQQHFWýWRýWKHýORFDOýTXHXHýPDQDJHUýRUýILQGýDQý046HULHVýFOLHQWýFRQðQHFWLRQñýWKHUHIRUHý34(GLWýFDQQRWýHGLWýDQ\ýTXHXHVï

8VHUý$FWLRQãýý(LWKHUýLQVWDOOýWKHýORFDOýTXHXHýPDQDJHUýRUýLQVWDOOýDQý046HULHVýFOLHQWýFRQQHFWLRQï

ìåì

n &RQYHUVLRQýHUURUVýý

0HVVDJHVýèíéåýðýèíèéýFRQFHUQýHUURUVýHQFRXQWHUHGýLQýDWWHPSWLQJýWRýGRý&&6,'ýýõ&RGHGý&KDUDFWHUý6HWý,GHQWLILHUôýFRQYHUVLRQVïýý:KHQý34(GLWýKDQGOHVýPHVVDJHVýZLWKýFKDUDFWHUýFRGHVýWKDWýGLIIHUýIURPýWKHýORFDOýFRGHñýLWýUHDGVýWKHýUHTXLUHGýFRQYHUVLRQýWDEOHVýõILOHVýZLWKýDýï7%/ýH[WHQVLRQôýIURPýWKHý046HULHVý�?&219?7$%/(ýGLUHFWRU\ïýý7KHýIROORZLQJýHUURUýPHVVDJHVýJLYHýGHWDLOHGýGHVFULSWLRQVýRIýSUREOHPVýWKDWýPLJKWýEHýHQFRXQWHUHGï

èíéå 8QDEOHýWRýUHDGýFRQYHUVLRQýWDEOHýõWDEOHýQDPHôïýý8QFRQYHUWHGýFKDUDFWHUVýZLOOýEHýGLVSOD\HGï

([SODQDWLRQãý$QýHUURUýRFFXUUHGýLQýDWWHPSWLQJýWRýUHDGýWKHýFRQYHUVLRQýWDEOHýIURPýWKHýKDUGýGLVNïýý1RýFRQYHUVLRQýIURPýWKHýFXUUHQWýPHVVDJH©VýFKDUDFWHUýFRGHýWRýWKHýORFDOýPDFKLQH©VýFRGHýZLOOýRFFXUï

8VHUý$FWLRQãý$ýUHDGýHUURUýRFFXUUHGïýý7KLVýFRXOGýLQGLFDWHýDýKDUGZDUHýRUýQHWZRUNýSUREOHPïýý&RQWDFWý\RXUýQHWZRUNýDGPLQLVWUDWRUýIRUýPRUHýLQIRUPDWLRQï

èíéä &RQYHUVLRQýWDEOHýõWDEOHýQDPHôýFDQQRWýEHýIRXQGïýý8QFRQYHUWHGýFKDUDFWHUVýZLOOýEHýGLVSOD\HGï

([SODQDWLRQãýý7KHýWDEOHýUHTXLUHGýWRýWUDQVODWHýWKHýFXUUHQWýPHVVDJH©VýFKDUDFWHUýFRGHýõ&&6,'ôýýFRXOGýQRWýEHýIRXQGýLQýWKHý?&219?7$%/(ýGLUHFWRU\ï

8VHUý$FWLRQãýý7KHýQDPHýRIýWKHýPLVVLQJýWDEOHýLVýJLYHQýLQýWKHýHUURUýPHVVDJHïýý7KHýXVHUýVKRXOGýFKHFNýWKHý046HULHVýLQVWDOODWLRQýGLVNVýIRUýWKHýFRQYHUVLRQýWDEOHVýDQGýFRS\ýWKHPýWRýWKHýGLUHFWRU\ï

èíèí 8QDEOHýWRýREWDLQý046HULHVýILOHýSDWKýIURPý5HJLVWU\ïýý1RýFKDUDFWHUýFRGHýFRQYHUVLRQýZLOOýRFFXUï

([SODQDWLRQãýý7KLVýHUURUýLVý:LQGRZVý17îäèýRQO\ïýý34(GLWýZDVýQRWýDEOHýWRýORFDWHýWKHý046HULHVýILOHýSDWKýLQýWKHý5HJLVWU\ïýý7KLVýLVýUHTXLUHGýLQýRUGHUýWRýORFDWHýWKHý?&219?7$%/(ýGLUHFWRU\ïý

8VHUý$FWLRQãýý,WýPD\ýEHýQHFHVVDU\ýWRýUHLQVWDOOý046HULHVïýý,Iý\RXýDUHýIDPLOLDUýZLWKýWKHý5HJHGLWýXWLOðLW\ñýFKHFNýLQýWKHý5HJLVWU\ýXQGHUý+.(<B/2&$/B0$&+,1(?62)7ð:$5(?,%0?046(5,(6?&855(179(56,21ïýý

7KHýILOHýSDWKýYDOXHýVKRXOGýPDWFKýWKHýORFDWLRQýRIý046HULHVýõIRUýH[DPSOHñý&ã?040ôïýý,IýQRWñýUHLQVWDOOý046HULHVï

èíèì 'LUHFWRU\ýõGLUHFWRU\ýQDPHôýQRWýIRXQGïýý1RýFKDUDFWHUýFRGHýFRQYHUVLRQýZLOOýRFFXUï

([SODQDWLRQãýý34(GLWýFRXOGýQRWýILQGýWKHýGLUHFWRU\ñýQDPHGýLQýWKHýPHVVDJHñýZKHUHýLWýWKLQNVýWKHý046HULHVýFRQYHUVLRQýWDEOHVýVKRXOGýEHýORFDWHGï

8VHUý$FWLRQãýý0DNHýVXUHý\RXýKDYHýWKHý?&219?7$%/(ýGLUHFWRU\ýXQGHUý\RXUýPDLQý046HULHVýGLðUHFWRU\ýDQGýWKDWýLWýFRQWDLQVýWKHýFRQYHUVLRQýWDEOHVý\RXýUHTXLUHïýý)RUý:LQGRZVý17îäèýDQGý26îëýWKHýSDWKýLVýXVXDOO\ý&ã?040?&219?7$%/(ñýDQGýRQý81,;ýPDFKLQHVýLWýLVýýî9$5î040î&219î7$ð%/(ïýý+RZHYHUñýWKLVýPD\ýGLIIHUýLQý\RXUýLQVWDOODWLRQï

èíèë 8QDEOHýWRýREWDLQý046HULHVýILOHýSDWKïýý1RýFKDUDFWHUýFRGHýFRQYHUVLRQýZLOOýRFFXUï

([SODQDWLRQãýý7KLVýHUURUýLVýLQý26îëýRQO\ïýý34(GLWýFRXOGýQRWýORFDWHýWKHýPDLQý046HULHVýGLUHFWRU\ïý8QGHUý26îëñý34(GLWýVHDUFKHVýIRUý�?&219?7$%/(ýXQGHUýWKHýVDPHýGLUHFWRU\ýDVý'//ýýõIRUýH[DPSOHñýLIý\RXUý046HULHVý'//ýGLUHFWRU\ýLVý&ã?040?'//ñý34(GLWýORRNVýIRUý&ã?040?&219?7$%/(ýDVýWKHýORFDWLRQýIRUýWKHýFRQYHUVLRQýWDEOHVïýô

8VHUý$FWLRQãý,Iýý?&219?7$%/(ýLVýQRWýORFDWHGýXQGHUýWKHýPDLQý046HULHVýGLUHFWRU\ñýDVýGHVFULEHGñýFUHDWHýLWýWKHUHýDQGýFRS\ýWKHýWDEOHVýWRýLWï

èíèê (UURUýDWWHPSWLQJýWRýILQGýFRQYHUVLRQýILOHVýLQý'LUHFWRU\ýõGLUHFWRU\ýQDPHôïý1RýFKDUDFWHUýFRGHýFRQYHUVLRQýZLOOýRFFXUï

([SODQDWLRQãýý$QýHUURUýRFFXUUHGýZKHQýWU\LQJýWRýILQGýï7%/ýILOHVýLQýWKHý&219?7$%/(ýGLUHFWRU\ïýýõ1RWHãýý7KLVýHUURUýLVýQRWýJHQHUDWHGýEHFDXVHýï7%/ýýILOHVýDUHýQRWýSUHVHQWýLQýWKHýGLUHFWRU\ïô

ìåë &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

8VHUý$FWLRQãýý0DNHýFHUWDLQý\RXUý&219?7$%/(ýGLUHFWRU\ýLVýVHWýXSýDVýGHVFULEHGýLQý(UURUý0HVVDJHýèíèëïýý,IýWKDWýGRHVýQRWýZRUNñýWKHUHýPD\ýEHýDQý26ýRUýKDUGZDUHýSUREOHPï

èíèé 8QDEOHýWRýFRQYHUWýKRVWý&&6,'ýõ&&6,'ýQXPEHUôïýý1HZýPHVVDJHVýZLOOýXVHýORFDOý&&6,'ýLQý&RGHG&KDU6HWýILHOGï

([SODQDWLRQãýý7KLVýHUURUýRFFXUVýLIý\RXýHVWDEOLVKýDýFOLHQWýFRQQHFWLRQñýEXWýWKHýWDEOHVýQHFHVVDU\ýWRýFRQðYHUWýWKHýKRVW©Vý&&6,'ýWRýWKHýORFDOý&&6,'ýõDQGýYLFHðYHUVDôýDUHýQRWýSUHVHQWýLQýWKHý&219?7$%/(ýGLUHFWRU\ï

8VHUý$FWLRQãýý&KHFNý\RXUý046HULHVýLQVWDOODWLRQýGLVNVýIRUýWKHýUHTXLUHGýWDEOHVýDQGýFRS\ýWKHPýWRýWKHý&219?7$%/(ýGLUHFWRU\ïýý6HWý/,%ý3$7+ýGLUHFWRU\ýZLWKýWZRýV\PEROLFýOLQNVýWRýOLEPTLFïRýDQGýOLEPðTPïRïýý

ìåê

34(GLWýIRUý096ýõ26îêäíôý(UURUý0HVVDJHV

.0'ëííý,QYDOLGýKH[DGHFLPDOýE\WHïýýýýýýýýýýýýýý

.0'ëíìý0HVVDJHý)LOWHUýXQORDGHGïýýýýýýýýýýýýýýý

.0'ëíëý0HVVDJHý)LOWHUýORDGHGïýýýýýýýýýýýýýý

.0'ëíêý4XHXHýXQORDGHGïýýýýýýýýýýýýýýýýýýý

.0'ëíéý4XHXHýORDGHGïýýýýýýýýýýýýýýýýýýýýýýý

.0'ëíèý(UURUãý8QDEOHýWRýRSHQýILOHïýýýýýýýýýýýý

.0'ëíçý(UURUãý,QYDOLGýFRPPDQGýV\QWD[ïýýýýýýýýý

.0'ëíæý÷3406*9ìýRIýGDWDýUHDFKHGïýýýýýý

.0'ëíåýý1Rý&+$56ý÷3406*9ìýIRXQGïýýýýýýýýýýýýýýýýýý

.0'ëíäý,QYDOLGý)LHOGý1DPHï

.0'ëìíý,QYDOLGýOLQHýFRPPDQGïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý

.0'ëììý)LOWHUýILHOGýFDQQRWýEHýEODQNïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý

.0'ëìëý)LOWHUýYDOXHýFDQQRWýEHýEODQNïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý

.0'ëìêý)LOWHUýRSHUDWRUýFDQQRWýEHýEODQNïýýýýýýýýýýýýýýýýýýýýýýýýýýýýý

.0'ëìéý÷3406*9ìýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý

.0'ëìèý0HVVDJHý)RUZDUGýVXFFHVVIXOïýýýýýýýýýýýýý

.0'ëìçý/LQHýFRPPDQGýLJQRUHGýEHFDXVHýTXHXHýLVýRSHQHGýUHDGðRQO\ïý

.0'êííý8QGHILQHGýIXQFWLRQýDUJXPHQWýYDOXHïýýýýýýýýýýýýýýýýýý

.0'êíìý)LOHýRUýVRFNHWýQRWýRSHQýRUýVXLWDEOHïýýýýýýýýýýýýýýýý

.0'êíëý'DWDýFRQYHUVLRQýHUURUïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý

.0'êíêý)LOHýLVýLQýDýFRUUXSWýRUýXQUHDGDEOHýVWDWHïýýýýýýýýýýý

.0'êíéý3K\VLFDOýGHYLFHýHUURUïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý

.0'êíèý0DWKýIXQFWLRQýGRPDLQýHUURUïýýýýýýýýýýýýýýýýýýýýýýýýý

.0'êíçý$WWHPSWýWRýDGGýUHFRUGýZLWKýGXSOLFDWHýNH\ïýýýýýýýýýýý

.0'êíæý)LOHýDOUHDG\ýH[LVWVïýýýýýýýýýýý

.0'êíåý)LOHýDWWULEXWHýFRQIOLFWïýýýýýýýýýýý

.0'êíäý)LOHýIRUPDWýHUURUïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý

ìåé &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

.0'êìíý)XQFWLRQýH[HFXWLRQýSUHYHQWHGýE\ýUXQðWLPHýRSWLRQVïýýý

.0'êììý(UURUýLQýPXOWLðE\WHýFKDUDFWHUýVHTXHQFHïýýýýýýýýýýýýý

.0'êìëý)XQFWLRQýIDLOHGýGXHýWRýLQWHUUXSWLRQýE\ýVLJQDOïýýýýýý

.0'êìêý)LOHýWRýEHýRSHQHGýZDVýDOUHDG\ýLQýXVHïýýýýýýýýýýýýýýý

.0'êìéý,QYDOLGýDUJXPHQWïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý

.0'êìèý3K\VLFDOý,î2ýHUURUïýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýýý

.0'êìçý5XQðWLPHýV\VWHPýLQWHUQDOýHUURUïýýýýýýýýýýýýýýýýýýýýý

.0'êìæý,QWHUQDOýOLPLWýH[FHHGHGïýýýýýýýý

.0'êìåý7RRýPDQ\ýRSHQýILOHVïýýýýýýýýýýýýýýýýýýýýýýýýýý

.0'êìäý7RRýPDQ\ýRSHQý+)6ýILOHVýLQýV\VWHPïýýýýýýýýýýý

.0'êëíý)LOHýQRWýIRXQGïýýýýýýýýýýýýýýýýýýýýýýýýýýý

.0'êëìý)LOHýRUýGLUHFWRU\ýQRWýIRXQGïýýýýýýýýýýýýýý

.0'êëëý,QVXIILFLHQWýPHPRU\ïýýýýýýýýýýýýýýýýýýýýýý

.0'êëêý1RýVSDFHýLQýILOHïýýýýýýýýýýýýýýýýýýýýýýýýý

.0'êëéý)XQFWLRQýQRWýLPSOHPHQWHGýE\ýV\VWHPïýýýýýýý

.0'êëèý)LOHýRUýVRFNHWýQRWýRSHQýRUýVXLWDEOHïýýýýýý

.0'êëçý3UHYLRXVýHUURUýQRWýFOHDUHGïýýýýýýýýýýýýýýý

.0'êëæý0DWKýIXQFWLRQýUDQJHýHUURUïýýýýýýýýýýýýýý

.0'êëåý2SHUDWLQJýV\VWHPýLQWHUIDFHýIDLOXUHïýýýýýýý

.0'êëäý8QVXSSRUWHGý,î2ýRSHUDWLRQï

.0'êêíý,QFRUUHFWýIXQFWLRQýXVDJHïý

ìåè

046HULHVðUHODWHGý0HVVDJHV

7KLVýVHFWLRQýSURYLGHVýDýOLVWýRIý046HULHVðUHODWHGýUHWXUQýFRGHVýWKDWýPD\ýEHýGLVSOD\HGýLQý34(GLWïýý7KHVHýPHVVDJHVýDUHýJHQHUDWHGýE\ý04,ýUHWXUQýFRGHVýLQý046HULHVïýý

)RUýDQýH[SODQDWLRQýDQGýFRUUHFWLYHýDFWLRQýIRUýWKHVHýPHVVDJHVñýUHIHUýWRýRQHýRIýWKHýIROORZLQJã

Q )RUýDýGHWDLOHGýH[SODQDWLRQýRIýFRGHVýRIýWKHýIRUPýëQQQñýVHHý$SSHQGL[ý%ñýýû$3,ý&RPSOHWLRQýDQGý5HDVRQý&RGHVûýLQýWKHý046HULHVýIRUý096î(6$ý9HUVLRQýìý5HOHDVHýìïéý0HVVDJHVýDQGý&RGHVýõ*&êêðíåìäôïýý<RXýPLJKWýDOVRýUHIHUýWRýWKHý046HULHVý$SSOLFDWLRQý3URJUDPPLQJý5HIHUHQFHýõ6&êêðìçæêðíëôï

Q )RUýLQIRUPDWLRQýRQýWKHýFRGHVýRIýWKHýIRUPýéQQQñýVHHýWKHý046HULHVý3URJUDPPDEOHý6\VWHPý0DQDJHPHQWý0DQXDOýõ6&êêðìéåëðíéôï

ìåç &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

n 04,ýëQQQýUHWXUQýFRGHV

ëííé %XIIHUýSDUDPHWHUýQRWýYDOLGï

ëííè %XIIHUýOHQJWKýSDUDPHWHUýQRWýYDOLGï

ëííä &RQQHFWLRQýEURNHQïý

ëíìç 4XHXHýKDVýEHHQýVHWýDVý*HWý,QKLELWHGïýý0HVVDJHVýZLOOýQRWýEHýGLVSOD\HGï

ëíëç 0HVVDJHýGHVFULSWRUýQRWýYDOLGï

ëíêê 1RýPHVVDJHýDYDLODEOHï

ëíêé %URZVHýFXUVRUýQRWýSRVLWLRQHGýRQýPHVVDJHï

ëíêè 1RWýDXWKRUL]HGýIRUýDFFHVVï

ëíêç 4XHXHýQRWýRSHQýIRUýEURZVHï

ëíêæ 4XHXHýQRWýRSHQýIRUýLQSXWï

ëíéë 2EMHFWýDOUHDG\ýRSHQýZLWKýFRQIOLFWLQJýRSWLRQVï

ëíéé 2EMHFWýGHVFULSWRUýVWUXFWXUHýQRWýYDOLGï

ëíéè 2SWLRQýQRWýYDOLGýIRUýREMHFWýW\SHï

ëíèì 3XWýFDOOVýLQKLELWHGýIRUýTXHXHï

ëíèê $ýPHVVDJHýFDQQRWýEHýSXWýEHFDXVHýWKHýTXHXHýLVýIXOOï

ëíèè 4XHXHýFRQWDLQVýìýRUýPRUHýPHVVDJHVýRUýXQFRPPLWWHGýUHTXHVWVï

ëíèå 4XHXHý0DQDJHUýQDPHýQRWýYDOLGýRUýQRWýNQRZQïý

ëíèä 4XHXHý0DQDJHUýQRWýDYDLODEOHýIRUýFRQQHFWLRQï

ëíçë $ýPHVVDJHýLVýDOUHDG\ýPDUNHGï

ëíåë $QýXQNQRZQýEDVHýTXHXHýQDPHýZDVýXVHGï

ëíåè 8QNQRZQýREMHFWýQDPHï

ëíåæ $QýXQNQRZQýUHPRWHýTXHXHýPDQDJHUýQDPHýZDVýXVHGï

ëìæê 3XWðPHVVDJHýRSWLRQVýVWUXFWXUHýQRWýYDOLGïý

ëëíì 1DPHýLQýXVHï

n 04,ý5HWXUQýéQQQý5HWXUQý&RGHV

éííì 7KHýTXHXHýVSHFLILHGýDOUHDG\ýH[LVWVï

éííê 4XHXHýW\SHýGRHVýQRWýPDWFKýö/LNHöýW\SHï

&DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH ìåæ

$SSHQGL[ý%ï34(GLWý6KRUWFXWý.H\V

34(GLWýSURYLGHVýVWDQGDUGýNH\ERDUGýVKRUWFXWVýIRUýGLVSOD\LQJýPHQXVýDQGýVHOHFWLQJýFRPPDQGVïýý7RýDFFHVVýPHQXVñýFRPPDQGVñýRUýRWKHUýNH\ERDUGýHTXLYDOHQWVñýSUHVVýWKHý$OWýNH\ýDQGýWKHýXQGHUOLQHGýFKDUDFWHUýLQýWKHýPHQXïýý)RUýH[DPSOHýWRýGLVSOD\ýDý)LOHýPHQXñýýDQGýVHOHFWý3DJHý6HWXSñýSUHVVý$OWýDQGýW\SHý)ñý6ïýý$GGLWLRQDOýNH\ERDUGýHTXLYDOHQWVýDUHýOLVWHGýDVýNH\ERDUGýFRPELQDWLRQVýWRýWKHýULJKWýRIýWKHýFRPPDQGVýIRUýýZKLFKýWKH\ýDSSO\ï

n 6KRUWFXWýNH\ýFRPELQDWLRQVýIRUý34(GLWýõ*8,ô

7KHýIROORZLQJýLVýDýOLVWýRIýNH\ýFRPELQDWLRQVýDYDLODEOHýLQý34(GLWïýý7KHVHýDUHýOLVWHGýE\ýPHQXã

,QýDGGLWLRQýWRýWKHVHýNH\Vñý\RXýFDQýDOVRýXVHý)ìýRUý$OWò)ìýWRýDFFHVVýRQOLQHý+HOSýZKLOHý\RXýDUHýZRUNLQJýLQýDýGLDORJýER[ï

0HQX &RPPDQG .H\ýRUý.H\ý&RPELQDWLRQ

)LOH 1HZý4XHXH &WUOò1

2SHQý4XHXH &WUOò2

(GLW &XW &WUOò;

&RS\ &WUOò&

3DVWH &WUOò9

(GLW ,QVHUW ,QV

'HOHWH 'HO

6HDUFK )LQGý1H[W &WUOò)

5HSODFHý1H[W &WUOò5

%

ìåå &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

n 6KRUWFXWýNH\ýFRPELQDWLRQVýIRUý34(GLWý2QOLQHý+HOSýõ*8,ô

7KHýIROORZLQJýLVýDýOLVWýRIýNH\ýFRPELQDWLRQVýDYDLODEOHýLQý34(GLWý2QOLQHý+HOSýLQýDý*8,ýHQYLURQPHQWïýý7KHVHýDUHýOLVWHGýE\ýPHQXã

n .H\VýIRUý34(GLWý2QOLQHý+HOSýõ,63)ô

7KHýIROORZLQJýLVýDýOLVWýRIýNH\ýFRPELQDWLRQVýDYDLODEOHýLQý34(GLWý2QOLQHý+HOSýLQýDQý,63)ýHQYLURQPHQWïýý7KHVHýDUHýOLVWHGýE\ýPHQXãý

0HQX &RPPDQG .H\ýRUý.H\ý&RPELQDWLRQ

0RYH 3UHYLRXVý3DJH $OWò3

1H[Wý3DJH $OWò1

%DFNý $OWò%

&RQWHQWV $OWò&

6HDUFK )LQGý7RSLF $OWò6

&RPPDQGýRUý$FWLRQ .H\ý

+HOS 3)ì

-XPSý)RUZDUGýõIURPýKLJKOLJKWHGýWRSLFô 3)ì

-XPSý%DFN 3)æ

1H[Wý7RSLFý 3)å

3UHYLRXVý7RSLFý 3)æ

1H[Wý3DJHýõZLWKLQýDýWRSLFô 3)ìí

3UHYLRXVý3DJH 3)ììý

([WHQGHGý+HOSýõSDQHOýKHOSô 3)è

.H\Vý+HOS 3)ç

&DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH ìåä

$SSHQGL[ý&ï&KDUDFWHUý&RQYHUVLRQ

n 2YHUYLHZ

$VýDýUHVXOWýRIýWKHýGLIIHULQJýFKDUDFWHUýFRGHVýõVXFKýDVý$6&,,ýDQGý(%&',&ôýIRXQGýRQýFRPSXWHUýV\VWHPVñýDQGýWKHýFKDUDFWHUýUHTXLUHPHQWVýRIýYDULRXVýODQJXDJHVñý,%0ýKDVýHVWDEOLVKHGýDýV\VWHPýRIýFKDUDFWHUýFRGHýVHWVïýý$ý&KDUDFWHUý&RGHý6HWý,GHQWLILHUýõ&&6,'ôýLVýDVVRFLDWHGýZLWKýHDFKýPDMRUýODQJXDJHñýDQGýZLWKLQýWKDWýODQJXDJHñýHDFKýVXSSRUWHGýFRPSXWHUýV\VWHPïýý7KHý&&6,'ýLGHQWLILHVýWKHýFKDUDFWHUýVHWýXVHGýE\ýWKHýODQJXDJHýDQGýWKHýHQFRGLQJýPHWKRGýXVHGýE\ýWKHýRULJLQDWLQJýFRPSXWHUýV\VWHPï

:KHQýDQý046HULHVýPHVVDJHýLVýFUHDWHGýRQýDýV\VWHPñýDý&&6,'ýLVýDVVRFLDWHGýZLWKýLWýDQGýSODFHGýLQýWKHý&RGH&KDU6HW,GýPHVVDJHýKHDGHUýILHOGïýý7KLVýSHUPLWVý046HULHVýWRýWUDQVODWHýWKHýKHDGHUýGDWDýDVýWKHýPHVVDJHýPRYHVýIURPýV\VWHPýWRýV\VWHPñýFRXQWU\ýWRýFRXQWU\ïýý+RZHYHUñýVLQFHý046HULHVýGRHVýQRWýKDYHýNQRZOHGJHýRIýWKHýPHVVDJHýGDWDýLWVHOIñýQRýDXWRPDWLFýWUDQVODWLRQýRIýLWýFDQýRFFXUï

n 34(GLWýFKDUDFWHUýFRGHýFRQYHUVLRQV

6LQFHý34(GLWýVXSSRUWVýPHVVDJHýGDWDýIRUPDWVýWKURXJKýLWVý)250$76ï,1,ýILOHñýLWýFDQýWUDQVODWHýVWULQJýGDWDýILHOGVýWRýSURYLGHýUHDGDEOHýGLVSOD\Vïýý34(GLWýDXWRPDWLFDOO\ýKDQGOHVýFKDUDFWHUýFRGHýFRQYHUVLRQVýEHWZHHQýWKHý&&6,'ýDVVRFLDWHGýZLWKýDýPHVVDJHýDQGýWKHýORFDOýV\VWHPïýý:KHQýWKHýPHVVDJHý&&6,'ýGRHVýQRWýPDWFKýWKHýORFDOý&&6,'ñý34(GLWýXVHVýWKHýDSSURSULDWHýFRQYHUVLRQýWDEOHýõVXSSOLHGýE\ý,%0ýDVýSDUWýRIýWKHý046HULHVýLQVWDOODWLRQýSDFNDJHôýWRýFRQYHUWýVWULQJýILHOGVýSULRUýWRýGLVSOD\ýRQýWKHýVFUHHQï

34(GLWýGRHVýQRWýFKDQJHýWKHýHQFRGLQJýRIýWKHýDFWXDOýPHVVDJHýLQýDQ\ýZD\ïýý$OOýWUDQVODWLRQýLVýGRQHý¦RQýWKHýIO\§ýWRýSURGXFHýUHDGDEOHýVFUHHQýWH[Wïýý7KHýPHVVDJHýLQýWKHýTXHXHýUHWDLQVýZKDWHYHUýRULJLQDOýHQFRGLQJýLWýKDGïýý/LNHZLVHñýLIýWKHýXVHUýHQWHUVýRUýFKDQJHVýWH[WýLQýDýPHVVDJHñýLWýLVýWUDQVODWHGýWRýWKHýPHVVDJH©VýRULJLQDOý&&6,'ýEHIRUHýEHLQJýUHSODFHGýRQýWKHýTXHXHïýý)RUýH[DPSOHñýLIýDýPHVVDJHýLVýRULJLQDOO\ýHQFRGHGýLQý(%&',&ñýWKHQýYLHZHGýZLWKý34(GLWýRQýDQý$6&,,ðEDVHGýPDFKLQHñý34(GLW©VýLQWHUQDOýFRQYHUVLRQýURXWLQHýXVHVýWKHýDSSURSULDWHýFRQYHUVLRQýWDEOHýWRýWUDQVODWHý(%&',&ýWRý$6&,,ýSULRUýWRýGLVSOD\ýRQýWKHýVFUHHQïýý,IýWKHýXVHUýPDNHVýDQ\ýFKDQJHVýWRýWKHýRQðVFUHHQýWH[WñýWKHQýWKHýUHYHUVHýFRQYHUVLRQýLVýSHUIRUPHGýSULRUýWRýSODFLQJýWKHýWH[WýEDFNýLQWRýWKHýDFWXDOýPHVVDJHï

&

ìäí &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

n &RQYHUVLRQýWDEOHV

34(GLW©VýFRQYHUVLRQýSURFHVVýLVýGHSHQGHQWýRQýWDEOHVýSURYLGHGýE\ý,%0ýDVýSDUWýRIýWKHý046HULHVýLQVWDOODWLRQïýý7KHVHýWDEOHVýDUHýSODFHGýLQýDýVXEGLUHFWRU\ýFDOOHGý¨�?FRQY?WDEOH©ïýý,Qý:LQGRZVýDQGý26îëýV\VWHPVýLWýLVýIRXQGýGLUHFWO\ýXQGHUýWKHýPDLQý046HULHVýGLUHFWRU\ýõXVXDOO\ý¨Fã?0TP?FRQY?WDEOH©ôýDQGýLQý81,;ýV\VWHPVýXQGHUýWKHý¨YDU©ýGLUHFWRU\ýõ¨îYDUîPTPîFRQYîWDEOH©ôïýý

7KHýWDEOHVñýZLWKýWKHýH[FHSWLRQýRIýVRPHýGRXEOHðE\WHýYHUVLRQVýIRUý$VLDQýODQJXDJHVñýDUHýëèçýE\WHVýHDFKïýý7KHLUýQDPHVýDUHýHLJKWýKH[ýGLJLWVýõUHSUHVHQWLQJýWKHýKH[ýYDOXHVýRIýWKHýWZRý&&6,'VýEHLQJýFRQYHUWHGôýZLWKýDQýH[WHQVLRQýRIý¨WEO©ïýý)RUýH[DPSOHñýííëèíìEèïWEOýLVýWKHýFRQYHUVLRQýWDEOHýIRUý8ï6ïý(QJOLVKñý096ýõ(%&',&ôýWRý26îëýRUý17ýõ$6&,,ôï

,Iý34(GLWýQHHGVýWRýGRýDýFRQYHUVLRQýDQGýWKHýDSSURSULDWHýWDEOHýLVýQRWýSUHVHQWñýLWýJLYHVý\RXýDýZDUQLQJýPHVVDJHýDQGýGLVSOD\VýWKHýWH[WýZLWKRXWýFRQYHUVLRQïýý<RXýVKRXOGýFKHFNý\RXUýLQVWDOODWLRQýGLVNVýRUý&'ð520ýIRUýWKHýDSSURSULDWHýWDEOHVýRUýFRQWDFWý,%0ïýý7KHýWDEOHVýPXVWýUHVLGHýLQýWKHýWDEOHýGLUHFWRU\ýFUHDWHGýE\ýWKHý046HULHVýLQVWDOODWLRQýLQýRUGHUýWRýEHýIRXQGï

n &RQYHUVLRQVýDQGýDýFOLHQWýFRQQHFWLRQ

,Iý34(GLWýLVýXVHGýWRýFUHDWHýDýQHZýPHVVDJHýRQýDýTXHXHñýWKHýPHVVDJHýLVýJLYHQýWKHý&&6,'ýRIýWKHýV\VWHPýFUHDWLQJýLWïýý7KHýH[FHSWLRQýWRýWKLVýLVýWKHýFDVHýRIýDýFOLHQWýFRQQHFWLRQïýý,QýWKLVýVLWXDWLRQñýWKHýFOLHQWýPDFKLQHýLVýIXQFWLRQLQJýDVýDQýH[WHQVLRQýRIýWKHýKRVWñýZKHUHýWKHýTXHXHýDFWXDOO\ýUHVLGHVñýDQGýWKHýKRVW©Vý&&6,'ýLVýSODFHGýLQýWKHý&RGHG&KDU6HW,GýILHOGïýý+RZHYHUñý34(GLWýVWLOOýUHFRJQL]HVýDQ\ý&&6,'ýGLIIHUHQFHVýEHWZHHQýKRVWýDQGýORFDOýPDFKLQHýDQGýPDNHVýWKHýQHFHVVDU\ýFRQYHUVLRQVï

&DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH ìäì

$SSHQGL[ý'ï,QVWDOODWLRQý5HTXLUHPHQWV

n 2YHUYLHZ

7KLVýWDEOHýOLVWVý,%0ýDQGýRWKHUýVRIWZDUHýUHTXLUHGýDQGýVXSSRUWHGýE\ýWKHý34(GLWýDSSOLFDWRQï

3URGXFW 5HTXLUHPHQWV

34(GLWýIRUý:LQGRZVý17 :LQGRZVý17ý9HUVLRQýêïèýDQGýKLJKHU

,%0ý046HULHVýIRUý:LQGRZVý17ýRUý,%0ý046HULHVý&OLHQWý&RQQHFWLRQýIRUý:LQGRZVý17

34(GLWýIRUý:LQGRZVýäè :LQGRZVýäè

,%0ý046HULHVý&OLHQWý&RQQHFWLRQýIRUý:LQGRZVýäè

34(GLWýIRUý26îë ,%0ý26îëý:DUSý9HUVLRQýëïíýDQGýKLJKHU

,%0ý046HULHVýIRUý26îëýRUý,%0ý046HULHVý&OLHQWý&RQQHFWLRQýIRUý26îë

34(GLWýIRUý$,; ,%0ý$,;ý9HUVLRQýéïìý

,%0ý046HULHVýIRUý$,;ý9HUVLRQýëïëýDQGýKLJKHUýRUý,%0ý046HULHVý&OLHQWý&RQQHFWLRQýIRUý$,;

34(GLWýIRUý+3ð8; +3ð8;ý9HUVLRQýìíýDQGýKLJKHU

,%0ý046HULHVýIRUý+3ð8;ý9HUVLRQýëïëýDQGýKLJKHUýRUý,%0ý046HULHVý&OLHQWý&RQQHFWLRQýIRUý+3ð8;

34(GLWýIRUý6XQý6RODULV 6XQý6RODULVý9HUVLRQýëïéýDQGýKLJKHU

,%0ý046HULHVýIRUý6XQý6RODULVý9HUVLRQýëïëýDQGýKLJKHUýRUý,%0ý046HULHVý&OLHQWý&RQQHFWLRQýIRUý6XQý6RODULV

34(GLWýIRUý096 ,%0ý096î(6$ý9HUVLRQýèïëýDQGýKLJKHUýRUý,%0ý26îêäíý9HUVLRQýìýDQGýKLJKHU

,%0ý,63)ý9HUVLRQýéïëýDQGýKLJKHU

,%0ý046HULHVý9HUVLRQýìïìïêýDQGýKLJKHU

'

ìäë &DQGOHý&RPPDQGý&HQWHUý$GPLQý3DFýIRUý046HULHVý34(GLWý8VHU©Vý*XLGH

193

Index

AAlias Queue dialog box 141, 151

Base Queue field 151Get Enabled option 151Scope option 151

application testing 16

Bbackout 149BREAKOUT 48building a filter

GUI 129ISPF 134

CC parameter (case sensitive searching) 121,

124case-sensitive searching 121, 124CCSID (coded character set identifier) 97Change command parameters

ALL 125FIRST 125LAST 125NEXT 125PREV 125

Change panel 116Change primary command 117, 123changing message data 116Chapter 79

Chapter 7 “Editing Queues.” 79Chapter 9 “Forwarding Messages.” 79character code conversion

and a client connection 192Character Code Set Identifier (CCSID) 191character codes 191character field padding 170, 173, 175CHG label 29column heading colors 170, 171Column Heading Colors option 171Command command 75Commit command 75Common Queue Properties

Default Priority 143Persistent Msgs 143Put Enabled 143

communication link 17, 60conjunctives 130, 134, 136Context 69Create the queue 141currently active field 18Cut command 79cutting, copying, and pasting between

queues 79

DDelete command 80Display character column using message’s

character set (CCSID) option 97display of message descriptor fields 170,

I

194 Candle Command Center Admin Pac for MQSeries PQEdit User’s Guide

173Display Queue in Logical Order 71DLQ (Dead-Letter Queue) 102, 104

header 102, 104documentation conventions 7

EEdit Hexadecimal dialog box (GUI) 96, 97

Character column 96Hexadecimal column 96Offset column 96

Edit Hexadecimal panel (ISPF) 99Character column 99Hexadecimal column 99Offset column 99

Edit menu 27Edit menu (GUI) 78Edit Under Syncpoint Control option 71editing

in hexadecimal 95–99options under ISPF 81queues 77–93using line commands 81

ellipsis (...) button 129

FField in Hex command 97field lines

ColHeading 48Displayed parameter 48Length parameter 48Type parameter 48

fields 20File menu 30, 71Filter command 106, 166

GUI 128ISPF 133

filter line commands 134Filter Messages dialog box 128

Add Above button 130Add Below button 130

conjunctives 130ellipsis (...) button 129Field Name 129operators 136parentheses 130Value field 130

Filter Messages selection 70filters 16Find command 110, 114, 120Find command parameters 120

FIRST 121LAST 121NEXT 121PREV 121

Find dialog box 110Match Case option 111Match Whole Cells Only option 111

Find Nextbutton 113command 111

Find panel 114, 116Match Case option 115

finding message dataGUI 110ISPF 114

FORMATS data set 26FORMATS file

Comment lines 45DEFSTRUCT specification 46example 50field lines 47FORMAT header lines 45layout specification 45processing in PQEdit 51QUEUE header line 49sections 44STRUCT specification 46wildcard character (*) 45

FORMATS.INI file 18, 20, 24, 43, 153and new queues 153

Forward command 79Forward Message dialog box 102

195

forwarding more than one message 105

GGo (G) line command 83GUI platform icon 7

Hheading color 21HexEdit (H) line command 98How to Create a New Queue 141

IIBM MQSeries bibliography 3initiation queue 147Initiation Queue field 147INS label 28, 30, 84INS status 84, 87, 88Insert (I) line command 83Insert command 27Insert menu command 80Installing PQEdit

for OS/2 34for Unix 35for Windows NT and Windows 95 34GUI version 34ISPF version 38

IPD (Insert Pending) 27IPD (Insert Pending) status 80, 86, 88ISPF platform icon 7

Llayout specifications 18, 20line commands 81

filtering 134Go (G) 83HexEdit (H) 98Insert (I) 83Replicate (R) 86

List button 71Load command 166

GUI 164

ISPF 165loading filters 137Local (or Model) Queue Properties dialog

box 141Local Queue Properties dialog box 145

Backout Reporting 149Event Control 148General Properties 145Trigger Conditions 146

Mmessage

colors 20deletions 30descriptors 20, 25display 27

message descriptor 171, 173, 174Message Filter panel 133, 135

conjunctives 134Field Name column 135operators 130, 134parentheses 134, 136, 137Value column 134, 136, 137

Message in Hex command 96message-based formatting 49Model Queue Properties dialog box 145

Backout Reporting 149Event Control 148General Properties 145Trigger Conditions 146

MQI client 17, 56, 60and PQEdit 61connection 17, 59, 61prerequisites for testing using 64setting up your client connection 64

MQSeriesapplication testing 16backout 149components 17connections 17STRMQCSV command 56STRMQM command 56

196 Candle Command Center Admin Pac for MQSeries PQEdit User’s Guide

triggering 147MQSeries-related messages 187

NNew Queue Command 141New Queue command 141New Queue dialog box 141New Queue dialog box (GUI) 142

Common Queue Properties group 143Like field 142Other Queue Properties button 143Queue Manager field 142Queue Name field 142

Oopen a client queue 64Open Queue command (GUI) 66, 73Open Queue dialog box 66, 67

Queue Manager field 69Queue Name field 69

Open Queue panel 68Open Read Only option 71opening

a non-local queue 69a queue 65, 67, 68

opening a client queue 64operators for filtering 136, 138optional Find command parameters 120Options command 20

ISPF 173Options dialog box (GUI) 170

Fonts button 172Show Message Descriptor Fields box 171

Options panel (ISPF) 173Show Message Descriptor Fields

option 173Other Queue Properties 141Other Queue Properties - Alias 141Other Queue Properties - Local and Model

Queues 141Other Queue Properties - Remote 141

Other Queue Properties button 143

PPage Setup command 31, 156Paste command 79PF5 (Rfind) 122PF6 (Rchange) 125PQEdit

character code conversion 191, 192messages 177Queue Window 18shortcut keys 189

PQEdit error messages 177, 178conversion errors 183PQEdit for ISPF (OS/390) 185

Preserving the order of displayed messages (ISPF) 168

primary commands 119Change 119, 123Filter 119Find 120

Print command 156printing

in a Unix environment 37printing List Data Set on exit from ISPF 158

QQUEUE header line. See FORMATS file,

QUEUE header lineQueue Manager

GUI 102ISPF 105

Queue NameGUI 102ISPF 105

Queue window 19, 22–26column headings 21, 26columns 18, 20currently active field 18fields 20, 22messages 22, 26, 27

197

RReassemble Segmented Messaged 71Refresh command 31, 75regression testing 166remote queue 151Remote Queue dialog box 141, 152

Remote Queue field 152Remote Queue Manager field 152Transmission Queue field 152

Reordering messages in a queue (GUI) 166, 167

Replace command 112Replace dialog box 112, 113

Replace All button 113Replace button 113

resolution queue 106Retry DLQ Messages option 103, 106Rollback command 30, 75

SSave Unload File As dialog box 162Search menu 109, 110, 112, 114, 116, 127Segmented Messages 71Select File to Load dialog box 164selecting a message or table 19shade column and message labels

option 156shortcut keys 189Specify Field dialog box wildcard (*) 129Specify Field panel wildcard (*) 135Specify Filter Data Set panel 137Specify Filter panel 135Specify Queue Data Set panel 165starting

MQSeries Command Server 17PQEdit 155the local queue manager 17

starting or connecting to a Queue Manager 56

starting PQEdit 57in a GUI environment 57under ISPF 57

STRMQCSV command. See MQSeries, STRMQCSV command 17

STRMQM command. See MQSeries, STRMQM command 17

STRUCT. See FORMATS file, STRUCT specification

syncpoint 67, 68, 71, 75syncpoint control 30

Ttext search delimiters 115, 120, 121, 124Tools menu 20, 25

GUI 131, 170ISPF 137, 173

Trigger Depth field 147TSO CSQOREXX command 141Type key words

CHAR 48INT 48MQSTR 48STRUCT 48

UUnload command 131, 165, 166

GUI 161, 167ISPF 163

Unload files 162Unload selection 137unloading filters 137Using Forward command

in a GUI environment 102with dead letter queues 106with the Filter command 106

VValue column 134, 136Value field 129, 130

198 Candle Command Center Admin Pac for MQSeries PQEdit User’s Guide

8VHUý&RPPHQWý)RUP

&DQGOHý&RPPDQGý&HQWHU�ý$GPLQý3DFýIRUý34(GLW�ý8VHU©Vý*XLGHñý9HUVLRQýìëí'RFXPHQWý1XPEHUý0'èéðèéìêðí

3OHDVHýWDNHýDýPRPHQWýWRýVKDUHý\RXUýFRPPHQWVýDQGýVXJJHVWLRQVýUHJDUGLQJý&DQGOH©VýGRFXðPHQWDWLRQïý%HýDVýVSHFLILFýDVýSRVVLEOHïý8VHýDGGLWLRQDOýSDSHUýLIýQHFHVVDU\ï

3DJHýú &RPPHQW

ì BBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB

ë BBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB

ê BBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB

$GGLWLRQDOýJHQHUDOýFRPPHQWVýWRýKHOSýXVýLPSURYHýWKHýGRFXPHQWDWLRQï

BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB

3OHDVHýSURYLGHýWKHýIROORZLQJýLQIRUPDWLRQïý7KDQNý\RXýIRUý\RXUýWLPHýDQGýDVVLVWDQFHï

BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB1DPH -REý)XQFWLRQ

BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB&RPSDQ\ 6LWHý,'

BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB$GGUHVV

BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB&LW\ñý6WDWHñý=LS

<RXýPD\ýUHWXUQý\RXUýFRPPHQWVýWRýXVýDWý\RXUýFRQYHQLHQFHïý,Iý\RXýKDYHýOLFHQVHGýWKHý&&&ý0DQDJHPHQWý3DFýIRUý046HULHVýSURGXFWýRUý\RXýKDYHýOLFHQVHGýWKHýIXOOýYHUVLRQýRIý34(GLWñýZHýZLOOýUHVSRQGýWRý\RXýZLWKLQýILYHýEXVLQHVVýGD\VýRIýUHFHLSWïý

0D\ýZHýFDOOýWRýGLVFXVVý\RXUýFRPPHQWV"

R <(6 3KRQHýQXPEHUãýBBBBBBBBBBBBBBBBB %HVWýWLPHýWRýFDOOã BBBBBBBB

R 12

)$;

õêìíôýèåëðéìêì

)ROGñýWDSHñýDQGýPDLOýõSRVWDJHýSDLGô

3OHDVHýGRýQRWýVWDSOHï

12ý3267$*(1(&(66$5<,)ý0$,/(',1ý7+(

81,7('ý67$7(6

%86,1(66ý5(3/<ý0$,/),567ý&/$66ý0$,/ý3(50,7ý12ýèèäý6$17$ý021,&$ý&$

3267$*(ý:,//ý%(ý3$,'ý%<ý$''5(66((

$771ãý,1)250$7,21ý'(9(/230(17&$1'/(ý&25325$7,21ëéëèý2/<03,&ý%28/(9$5'6$17$ý021,&$ñý&$ýäíéíéðäæçä

)ROGýDQGýWDSH 3OHDVHýGRýQRWýVWDSOH )ROGýDQGýWDSH

)ROGýDQGýWDSH 3OHDVHýGRýQRWýVWDSOH )ROGýDQGýWDSH

&XWýRUýIROGDORQJýOLQH

&XWýRUýIROGDORQJýOLQH

Recommended