0DUFKwDP–SP

2WWHUEHLQ80&()UDQNOLQ6W+DJHUVWRZQ0'

WESTERN REGION LEADERSHIP DAYS 2017

ZĞǀϭϮϱϮϬϭϳ dƌŽƵďůĞƌĞŐŝƐƚĞƌŝŶŐŽŶƚĂĐƚWĞŶŶLJ'ĂǀĞƌƉŐĂǀĞƌΛďǁĐƵŵĐŽƌŐŽƌdŽŶŝĂĞŶŶĞƩƚďĞŶŶĞƩΛďǁĐƵŵĐŽƌŐĂƚϯϬϭ-ϳϯϵ-ϲϲϱϵ

7KLVWUDLQLQJHYHQWLVJHDUHGWRZDUGFOHUJ\FKXUFKOHDGHUVODLW\DQGRWKHUVZKRZDQWWRPDNHDQLPSDFWLQWKHLUORFDOFRQJUHJDWLRQVDQGFRPPXQLWLHV

2Q-OLQH5HJLVWUDWLRQ

*RWRZZZEZFXPFRUJ!VHOHFW(YHQWV!/HDGHUVKLS'D\V!:HVWHUQ5HJLRQ!FOLFNRQ:5WRUHJLVWHU

2Q-OLQH5HJLVWUDWLRQ—SHUSHUVRQ—*RWRWKHOLQNEHORZORJLQXVLQJ\RXU$UHQD8VHU,'DQGSDVVZRUGWRUHJLVWHURQ-OLQHDQGSD\ZLWKDFUHGLWFDUG

3DSHU5HJLVWUDWLRQ—SHUSHUVRQ—'RZQORDGWKHIRUPFRPSOHWHLWDQGPDLOLWZLWKDFKHFNPDGHSD\DEOHWR%:&7UHDVXUHUWR%:&:HVWHUQ5HJLRQ2IILFH$WWQ/HDGHUVKLS'D\V6:DOQXW6W6XLWH+DJHUVWRZQ0'

127(:HPXVWUHFHLYH\RXUFKHFN%()25()HEUXDU\DQG125()81'6DIWHUWKDWGDWH'HDGOLQHWRUHJLVWHULV)HEUXDU\

6SDFHLVOLPLWHG— 12:$/.,16

6FKHGXOH)ROORZV<RXZLOOVHOHFW21(FODVVIURPHDFKVHVVLRQ

Check in and Informal Hymn Sing in the Sanctuary begins at 8:30 am.

6HVVLRQ–DP

· SPRC Basics — Rev. Steve Larsen · Finance Basic — Richard Miller, Jr. · Dealing with Difficult People — Julie Kugler-Bentley, RN · Deepening Church and Community Relationships – Kathy Powderly & Cindy Brown · Authentic Faith Sharing — Rev. Michael Beiber · Mass Incarceration — Deaconess Jane Grays · Insurance 101: Protecting Your Church In Today’s Risk Environment —- Bill Lodico

6HVVLRQDP–SP · SPRC Advanced including Evaluations and Pastoral Transition — Rev. Steve Larsen · Implement Electronic Giving in 2017!! — Paul Eichelberger & VANCO · Spiritual Disciplines 101 for Adults — Rev. Art Thomas Jr. · Every Spiritual Encounter — Pastor Blango Ross, Jr · Board of Trustees Orientation — Rev. Bill Brown · Full Inclusion and Reconciliation: Why now? — Mittie Quinn

· Growing with God — Betsy Phelps & Connie Brantner

/81&+—SPLQFOXGHGLQUHJLVWUDWLRQ

6HVVLRQ–SP · When Helping Helps - Paul Ostoich · Understanding our Givers! — Frank Robert · Teaching Youth to Safely use Social Media — Pam Bowen, Marie Ebersole &

Angela Fossett · Did you know United Methodists have a “Distinctive Heritage?” —

Rev. Dr. Conrad Link · Heroin and The Church: Outreach Strategies to Engage Your Church -—

Rev. Leo Yates, Jr. · Media, Marketing & Print Publications — Beth Hutton & Gib Bishop · Lay Servant Ministries and Certified Lay Ministry: What’s New After General

Conference 2016? — Julie Flinchum · Implement Electronic Giving in 2017!! — Paul Eichelberger & VANCO

:HVWHUQ5HJLRQ·V/HDGHUVKLS'D\V

3DSHU5HJLVWUDWLRQ)RUP 67(383

)RU2IILFHXVHRQO\3D\PHQWUHFHLYHG'DWHBBBBBBBBBBBBBBBBBBBBB&KHFNBBBBBBBBBBBBBBBBBBBBBBBBBB$PRXQWBBBBBBBBBBBBBBBBBBB

(QWHUHGLQWR$UHQDE\BBBBBBBBBBBBBBBBBBB'DWHBBBBBBBBBBBBBBBBBBBBBBBB&RQILUPDWLRQBBBBBBBBBBBBBBBBBBBBBBBBBB5HYϬϭϮϯϮϬϭϳ

3OHDVH&KHFN¥21(IURP($&+6HVVLRQ—7RWDO7+5((FODVVHV

8:30 am — Check in and Informal Hymn Sing in the Sanctuary

Session #1 (9:00 – 10:30 am)

q SPRC Basics — Rev. Steve Larsen

q Finance Basic — Richard Miller, Jr.

q Dealing with Difficult People — Julie Kugler-Bentley, RN

q Deepening Church and Community Relationships – Kathy Powderly & Cindy Brown

q Authentic Faith Sharing — Rev. Michael Beiber

q Mass Incarceration — Deaconess Jane Grays

q Insurance 101: Protecting Your Church In Today’s Risk Environment —- Bill Lodico

Session #2 (11:00 am – 12:30 pm)

q SPRC Advanced including Evaluations and Pastoral Transition — Rev. Steve Larsen

q Implement Electronic Giving in 2017!! — Paul Eichelberger & VANCO

q Spiritual Disciplines 101 for Adults — Rev. Art Thomas Jr.

q Every Spiritual Encounter — Pastor Blango Ross, Jr

q Board of Trustees Orientation — Rev. Bill Brown

q Full Inclusion and Reconciliation: Why now? — Mittie Quinn

q Growing with God — Betsy Phelps & Connie Brantner

LUNCH (12:30 — 1:15 pm) included in registration fee

Session #3 (1:30 – 3:00 pm)

q When Helping Helps - Paul Ostoich

q Understanding our Givers! — Frank Robert

q Teaching Youth to Safely use Social Media — Pam Bowen, Marie Ebersole & Angela Fossett

q Did you know United Methodists have a “Distinctive Heritage?” — Rev. Dr. Conrad Link

q Heroin and The Church: Outreach Strategies to Engage Your Church -— Rev. Leo Yates, Jr.

q Media, Marketing & Print Publications — Beth Hutton & Gib Bishop

q Lay Servant Ministries and Certified Lay Ministry: What’s New After General Conference 2016? — Julie Flinchum

q Implement Electronic Giving in 2017!! — Paul Eichelberger & VANCO

4XHVWLRQV"&RQWDFW3HQQ\*DYHU>SJDYHU#EZFXPFRUJ@RU7RQLD%HQQHWW>WEHQQHWW#EZFXPFRUJ@DW--

&RPSOHWHWKLVIRUPDQGPDLOLWZLWKDFKHFNPDGHSD\DEOHWR %:&7UHDVXUHUWR%:&:HVWHUQ5HJLRQ2IILFH$WWQ/HDGHUVKLS'D\V6:DOQXW6W6XLWH+DJHUVWRZQ0':H0867UHFHLYH\RXUFKHFN%()25()HEUXDU\DQGQRUHIXQGVDIWHUWKDWGDWH'HDGOLQHWRUHJLVWHULV)HEUXDU\6SDFHLVOLPLWHG 12:$/.-,16WůĞĂƐĞWƌŝŶƚůĞĂƌůLJ

EDͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ

Z^^ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ

/dzͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ^ddͺͺͺͺͺͺͺͺͺͺ/WKͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ

WƌĞĨĞƌƌĞĚWŚŽŶĞEŽ;ĂLJͿͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ;ĞůůͿͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ

-D/>Z^^ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ

^ƉĞĐŝĂůĚŝĞƚĂƌLJƌĞƋƵŝƌĞŵĞŶƚƐ;ǀĞŐĞƚĂƌŝĂŶĨŽŽĚĂůůĞƌŐŝĞƐĚŝĂďĞƟĐĞƚĐͿ>ŝƐƚͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ

EĂŵĞŽĨŚƵƌĐŚͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺdŽǁŶ^ƚĂƚĞͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ

:HVWHUQ5HJLRQ·V/HDGHUVKLS'D\V &ODVV'HVFULSWLRQV

67(383

3DJHRI

6HVVLRQ–DP

· ^WZĂƐŝĐƐ-ZĞǀ^ƚĞǀĞ>ĂƌƐĞŶĂůǀĂƌLJhD&ƌĞĚĞƌŝĐŬ—dŚŝƐǁŽƌŬƐŚŽƉǁŝůůƉƌĞƐĞŶƚďĂƐŝĐƚĂƐŬƐĂŶĚƌĞƐŽƵƌĐĞƐĨŽƌƚŚĞůŽĐĂůĐŚƵƌĐŚ^ƚĂī-WĂƌŝƐŚZĞůĂƟŽŶƐŽŵŵŝƩĞĞƐ;^WZͿ&ŽƌƚŚŽƐĞŶĞǁƚŽƚŚĞ^WZǁĞǁŝůůƉƌĞƐĞŶƚĂĚĞƚĂŝůĞĚĞdžƉůŽƌĂƟŽŶŽĨƚŚĞŐƵŝĚŝŶŐƉƌŝŶĐŝƉůĞƐĂŶĚǀĂůƵĞƐŽĨƚŚĞǁŽƌŬ&ŽƌƚŚŽƐĞĐŽŶƟŶƵŝŶŐƚŽƐĞƌǀĞŽŶƚŚĞ^WZǁĞǁŝůůĞdžƉůŽƌĞĐŽŵŵŽŶĐŚĂůůĞŶŐĞƐĂŶĚƌŽĂĚďůŽĐŬƐŝŶƚŚĞǁŽƌŬŽĨƚŚĞĐŽŵŵŝƩĞĞĂŶĚůŽĐĂůĐŚƵƌĐŚtŚĞŶLJŽƵƚĂŬĞƚŚŝƐĐůĂƐƐLJŽƵǁŝůůƌĞĐĞŝǀĞĂĐŽƉLJŽĨƚŚĞ'ƵŝĚĞůŝŶĞƐ ŬůĞƚĚĞƐŝŐŶĞĚƚŽŚĞůƉŝŵƉůĞŵĞŶƚĂŶĚŐƵŝĚĞƚŚĞǁŽƌŬŽĨƚŚĞŵŝŶŝƐƚƌLJĂƌĞĂ;ZĞǀ^ƚĞǀĞ>ĂƌƐĞŶŝƐĐƵƌƌĞŶƚůLJƉĂƐƚŽƌĂƚĂůǀĂƌLJhD&ƌĞĚĞƌŝĐŬͿ

· &ŝŶĂŶĐĞĂƐŝĐ-ZŝĐŚĂƌĚDŝůůĞƌ:ƌ—,ŽǁĚŽĞƐƚŚĞǁŽƌŬŽĨƚŚĞ&ŝŶĂŶĐĞŽŵŵŝƩĞĞƌĞůĂƚĞƚŽƚŚĞŵŝƐƐŝŽŶŽĨƚŚĞůŽĐĂůĐŚƵƌĐŚŽƵƌĚĞŶŽŵŝŶĂƟŽŶĂŶĚŽƵƌŐůŽďĂůŵŝŶŝƐƚƌLJ,ŽǁĚŽĞƐĂĐŚƵƌĐŚďƵĚŐĞƚƐƵƉƉŽƌƚŵŝŶŝƐƚƌLJ,ŽǁĂƌĞůŽĐĂůĐŚƵƌĐŚĂƉƉŽƌƟŽŶŵĞŶƚƐĐĂůĐƵůĂƚĞĚĂŶĚǁŚĂƚĚŽƚŚĞLJƐƵƉƉŽƌƚ,ŽǁĚŽĞƐĂŶĂƵĚŝƚƐƵƉƉŽƌƚƚŚĞƐƚĞǁĂƌĚƐŚŝƉĞīŽƌƚƐŽĨŵLJĐŽŶŐƌĞŐĂƟŽŶŶĚǁŚĂƚŐƵŝĚĞůŝŶĞƐĂƌĞĂǀĂŝůĂďůĞƌĞŐĂƌĚŝŶŐƉƌŽƉĞƌĞdžƉĞŶƐĞƌĞŝŵďƵƌƐĞŵĞŶƚƐĨŽƌƉĂƐƚŽƌƐĂŶĚƐƚĂītĞǁŝůůĚŝƐĐƵƐƐĞĂĐŚŽĨƚŚĞƐĞƚŽƉŝĐƐŝŶĐůƵĚŝŶŐĂŶLJĂĚĚŝƟŽŶĂůƋƵĞƐƟŽŶƐƚŚĂƚLJŽƵďƌŝŶŐƚŽƚŚŝƐƐĞŵŝŶĂƌdŚŽƐĞǁŚŽĂƩĞŶĚƚŚŝƐĐůĂƐƐǁŝůůƌĞĐĞŝǀĞĂĐŽƉLJŽĨƚŚĞ'ƵŝĚĞůŝŶĞƐŬůĞƚĚĞƐŝŐŶĞĚƚŽŚĞůƉĮŶĂŶĐĞĐŽŵŵŝƩĞĞŵĞŵďĞƌƐƚƌĞĂƐƵƌĞƌƐĮŶĂŶĐŝĂůƐĞĐƌĞƚĂƌŝĞƐĂŶĚĐŽƵŶƚĞƌƐďƵŝůĚƐƚƌŽŶŐůŽĐĂůĐŚƵƌĐŚĮŶĂŶĐŝĂůŵŝŶŝƐƚƌŝĞƐƚŚĂƚĂƌĞďĂƐĞĚŽŶƚƌĂŶƐƉĂƌĞŶĐLJĂŶĚŝŶƚĞŐƌŝƚLJ;ZŝĐŚĂƌĚDŝůůĞƌŝƐĂŵĞŵďĞƌŽĨĂůǀĂƌLJhD&ƌĞĚĞƌŝĐŬĂŶĚƐĞƌǀĞƐŽŶƚŚĞtŽƵŶĐŝůŽŶ&ŝŶĂŶĐĞĂŶĚĚŵŝŶŝƐƚƌĂƟŽŶͿ

· ĞĂůŝŶŐǁŝƚŚŝĸĐƵůƚWĞŽƉůĞ-:ƵůŝĞ<ƵŐůĞƌ-ĞŶƚůĞLJZE>^t-W—tĞĂůůĞŶĐŽƵŶƚĞƌƵŶƌĞĂƐŽŶĂďůĞƉĞŽƉůĞŝŶŽƵƌůŝǀĞƐ/ƚƐĞĂƐLJƚŽůĞƚĂĐŚĂůůĞŶŐŝŶŐƉĞƌƐŽŶĂīĞĐƚƵƐĂŶĚƌƵŝŶŽƵƌĚĂLJtŚĞŶǁĂůŬŝŶŐĂǁĂLJŝƐŶŽƚĂŶŽƉƟŽŶŚŽǁĐĂŶLJŽƵĞŵƉŽǁĞƌLJŽƵƌƐĞůĨǁŚŝůĞĚĞ-ĞƐĐĂůĂƟŶŐƚŚĞƐŝƚƵĂƟŽŶŽŵĞůĞĂƌŶŚŽǁƚŽĚĞĂůǁŝƚŚĐŚĂůůĞŶŐŝŶŐƉĞŽƉůĞŝŶĂǁĂLJƚŚĂƚŝƐďŽƚŚĞīĞĐƟǀĞĂŶĚƐĂƟƐĨLJŝŶŐ;:ƵůŝĞ<ƵŐůĞƌ-ĞŶƚůĞLJZE>^t-WŵƉůŽLJĞĞƐƐŝƐƚĂŶĐĞWƌŽŐƌĂŵŽŽƌĚŝŶĂƚŽƌĞŚĂǀŝŽƌĂů,ĞĂůƚŚ^ĞƌǀŝĐĞƐDĞƌŝƚƵƐ,ĞĂůƚŚ,ĂŐĞƌƐƚŽǁŶDͿ

· ĞĞƉĞŶŝŶŐŚƵƌĐŚĂŶĚŽŵŵƵŶŝƚLJZĞůĂƟŽŶƐŚŝƉƐ-<ĂƚŚLJWŽǁĚĞƌůLJΘŝŶĚLJƌŽǁŶ—/ƐLJŽƵƌĐŚƵƌĐŚŐƌĞĂƚĂƚŐŝǀŝŶŐĮŶĂŶĐŝĂůůLJĂŶĚŵĂƚĞƌŝĂůůLJďƵƚƐĞĞŬŝŶŐŵŽƌĞŵĞĂŶŝŶŐĨƵůƐĞƌǀŝĐĞƐĞĞŬŝŶŐǁĂLJƐƚŽďƵŝůĚƐƚƌŽŶŐĞƌƌĞůĂƟŽŶƐŚŝƉƐǁŝƚŚLJŽƵƌĐŽŵŵƵŶŝƚLJĂŶĚŝƚƐƉĞŽƉůĞ tŽƵůĚLJŽƵůŝŬĞůĞĂƌŶŚŽǁƚŽĐŽŶŶĞĐƚďĞƩĞƌǁŝƚŚĐŽŵŵƵŶŝƚLJŽƌŐĂŶŝnjĂƟŽŶƐĂŶĚŽƚŚĞƌĐŚƵƌĐŚĞƐƚŽĨƵůĮůůLJŽƵƌĐĂůůŝŶŐĂŶĚƐĞƌǀĞŵŽƌĞĞīĞĐƟǀĞůLJ ůƌĞĂĚLJŝŶǀŽůǀĞĚŝŶĐŽŵŵƵŶŝƚLJďƵƚǁĂŶƚƚŽƚĂŬĞŝƚƚŽƚŚĞŶĞdžƚůĞǀĞůƐƉŝƌŝƚƵĂůůLJ ĐƟǀĞĐŽŵŵƵŶŝƚLJŝŶǀŽůǀĞŵĞŶƚĂŶĚƌĞůĂƟŽŶĂůƐĞƌǀŝĐĞĐĂŶŚĂǀĞĂƉƌŽĨŽƵŶĚŝŵƉĂĐƚŽŶLJŽƵƌĐŽŶŐƌĞŐĂƟŽŶĂŶĚLJŽƵƌĐŽŵŵƵŶŝƚLJ :ŽŝŶƵƐĨŽƌĂƐĞƐƐŝŽŶĨŽĐƵƐĞĚŽŶŐƌŽǁŝŶŐƐƉŝƌŝƚƵĂůůLJƚŚƌŽƵŐŚďƵŝůĚŝŶŐĂŶĚĚĞĞƉĞŶŝŶŐĐŽŵŵƵŶŝƚLJƌĞůĂƟŽŶƐŚŝƉƐ ;DƌƐ<ĂƚŚLJWŽǁĚĞƌůLJŝƐŝƌĞĐƚŽƌŽĨƚŚĞ,ĂŐĞƌƐƚŽǁŶƌĞĂZĞůŝŐŝŽƵƐŽƵŶĐŝů,ZĂŶĚŵĞŵďĞƌŽĨƚŚĞĂƌůLJŚŝůĚŚŽŽĚĚǀŝƐŽƌLJŽƵŶĐŝůĂŶĚƚŚĞ,ĂŐĞƌƐƚŽǁŶZŽƚĂƌLJĂŶĚDƌƐŝŶĚLJƌŽǁŶŝƐŝƌĞĐƚŽƌŽĨWƌŽŐƌĂŵƐKƩĞƌďĞŝŶhD,ĂŐĞƌƐƚŽǁŶDͿ

· ƵƚŚĞŶƟĐ&ĂŝƚŚ^ŚĂƌŝŶŐ-ZĞǀDŝĐŚĂĞůĞŝďĞƌ—ǁŽƌŬƐŚŽƉĂŶĚĚŝƐĐƵƐƐŝŽŶĐĞŶƚĞƌĞĚŽŶǁĂLJƐƚŽƐŚĂƌĞLJŽƵƌĨĂŝƚŚĨƌŽŵƚŚĞŚĞĂƌƚtĞǁŝůůƚĂůŬĂďŽƵƚŬŶŽǁŝŶŐLJŽƵƌƉĞƌƐŽŶĂůĨĂŝƚŚƐƚŽƌLJĮŶĚŝŶŐǁĂLJƐƚŽƐŚĂƌĞƚŚĞŐŽƐƉĞůďLJƚĞůůŝŶŐLJŽƵƌƐƚŽƌLJǁŚŝůĞůŝƐƚĞŶŝŶŐƚŽŽƚŚĞƌƐΖĂŶĚŚŽǁƚŚŝƐĐĂŶŚĞůƉƚŽĐƌĞĂƚĞĂŶŝŶǀŝƚĂƟŽŶĂůĐƵůƚƵƌĞŝŶLJŽƵƌĐŚƵƌĐŚWĞŽƉůĞǁŚŽƚŽŽŬƚŚŝƐĐůĂƐƐůĂƐƚLJĞĂƌŵĂLJĂƩĞŶĚĂŐĂŝŶĂƐĂƌĞĨƌĞƐŚĞƌĂŶĚƚŽŐĞƚŵŽƌĞƉƌĂĐƟĐĞƉƌŽǀŝĚĞĚLJŽƵďƌŝŶŐĂĨƌŝĞŶĚ;ZĞǀDŝĐŚĂĞůĞŝďĞƌŝƐĐƵƌƌĞŶƚůLJƉĂƐƚŽƌĂƚDŽƵŶƚŝŽŶhDDLJĞƌƐǀŝůůĞDƐĞƌǀĞƐŽŶƚŚĞ-,ŽĂƌĚŽĨKƌĚĂŝŶĞĚDŝŶŝƐƚƌLJĂŶĚtƐŽƵŶĐŝůŽŶzŽƵŶŐĚƵůƚDŝŶŝƐƚƌŝĞƐͿ

· DĂƐƐ/ŶĐĂƌĐĞƌĂƟŽŶ-ĞĂĐŽŶĞƐƐ:ĂŶĞ'ƌĂLJƐ—,ŽǁŝƐŝƚƚŚĂƚƚŚĞhŶŝƚĞĚ^ƚĂƚĞƐǁŝƚŚŽŶůLJϱйŽĨƚŚĞǁŽƌůĚƐƉŽƉƵůĂƟŽŶŝŶĐĂƌĐĞƌĂƚĞƐŵŽƌĞƚŚĂŶϮϬйŽĨƚŚĞǁŽƌůĚƐƚŽƚĂůƉƌŝƐŽŶƉŽƉƵůĂƟŽŶtŚĂƚĚŽĞƐŝƚŵĞĂŶĂƐƉĞŽƉůĞŽĨĨĂŝƚŚƚŽĂĐƟǀĞůLJƌĞ-ŵĞŵďĞƌŵĞŵďĞƌƐŽĨŽƵƌĨĂŵŝůLJĂŶĚƐŽĐŝĞƚLJǁŚŽĂƌĞŝƐŽůĂƚĞĚĂŶĚƌĞŵŽǀĞĚĨƌŽŵŽƵƌƐŽĐŝĞƚLJdŚŝƐƐĞƐƐŝŽŶǁŝůůŝŶĐůƵĚĞĂďĂƐŝĐŽǀĞƌǀŝĞǁŽĨƚŚĞƐƚĂƟƐƟĐƐĐŽŶĚŝƟŽŶƐƌĂĐŝĂůĂŶĚĞĐŽŶŽŵŝĐĐĂƵƐĞƐĂŶĚĐŽŶƐĞƋƵĞŶĐĞƐŽĨŵĂƐƐŝŶĐĂƌĐĞƌĂƟŽŶ;ĞĂĐŽŶĞƐƐ:ĂŶĞ'ƌĂLJƐŝƐŝŶŵŝŶŝƐƚƌLJǁŝƚŚĨĞŵĂůĞƌĞƐŝĚĞŶƚƐĂƚDĂƌLJůĂŶĚŽƌƌĞĐƟŽŶĂů/ŶƐƟƚƵƟŽŶĨŽƌtŽŵĞŶ;D/-tͿ:ĞƐƐƵƉDƚŚƌŽƵŐŚ<ĂŝƌŽƐWƌŝƐŽŶDŝŶŝƐƚƌLJ^ŚĞĐƵƌƌĞŶƚůLJƐĞƌǀĞƐŽŶƚŚĞ<ĂŝƌŽƐĚǀŝƐŽƌLJŽƵŶĐŝůĂŶĚŝƐƚŚĞ^ƚĂƚĞZĞƉƌĞƐĞŶƚĂƟǀĞĨŽƌD/-t:ĂŶĞŝƐ^ĞĐƌĞƚĂƌLJŽĨ'ůŽďĂůDŝŶŝƐƚƌŝĞƐĨŽƌƚŚĞĂůƟŵŽƌĞ-tĂƐŚŝŶŐƚŽŶŽŶĨĞƌĞŶĐĞĂŶĚƉƌŝŵĂƌŝůLJǁŽƌŬƐǁŝƚŚŵŝƐƐŝŽŶĂƌŝĞƐŝƟŶĞƌĂƟŶŐŝŶƚŚĞtͿ

:HVWHUQ5HJLRQ·V/HDGHUVKLS'D\V &ODVV'HVFULSWLRQV

67(383 · /ŶƐƵƌĂŶĐĞϭϬϭWƌŽƚĞĐƟŶŐzŽƵƌŚƵƌĐŚ/ŶdŽĚĂLJƐZŝƐŬŶǀŝƌŽŶŵĞŶƚ-ŝůů>ŽĚŝĐŽ

WůĞĂƐĞũŽŝŶŝůů>ŽĚŝĐŽĨƌŽŵhŶŝƚĞĚDĞƚŚŽĚŝƐƚ/ŶƐƵƌĂŶĐĞŽŵƉĂŶLJŝůůŚĂƐƐĞƌǀĞĚƚŚĞ ŚƵƌĐŚĨŽƌŽǀĞƌϮϱLJĞĂƌƐĂŶĚŚĂƐŵĞƚǁŝƚŚŽǀĞƌϱϬϬϬŚƵƌĐŚĞƐdŽŐĞƚŚĞƌǁĞǁŝůůĞdžĂŵŝŶĞƐŽŵĞŽĨƚŚĞŵŽƌĞƚƌŽƵďůĞƐŽŵĞĂƌĞĂƐǁŝƚŚŝŶƚŚĞŚƵƌĐŚƚŽĚĂLJŝŶĐůƵĚŝŶŐΘKĐŽǀĞƌĂŐĞ^ĞdžƵĂůDŝƐĐŽŶĚƵĐƚĂŶĚŵƉůŽLJĞĞWƌĂĐƟĐĞƐ>ŝĂďŝůŝƚLJƚŽũƵƐƚŶĂŵĞĂĨĞǁLJƚŚĞĞŶĚŽĨƚŚĞĚŝƐĐƵƐƐŝŽŶLJŽƵǁŝůůďĞĞƋƵŝƉƉĞĚǁŝƚŚƚŚĞŬŶŽǁůĞĚŐĞƚŽĐŽŵƉĂƌĞĂŶĚĐŽŶƚƌĂƐƚLJŽƵƌŽǁŶŝŶƐƵƌĂŶĐĞƉƌŽŐƌĂŵǁŝƚŚǁŚĂƚŝƐƐƵŐŐĞƐƚĞĚdŚŝƐǁŝůůŝŶƐƵƌĞƚŚĂƚLJŽƵĂƌĞĚŽŝŶŐĂůůLJŽƵĐĂŶƚŽĞŶƐƵƌĞLJŽƵƌĨĂĐŝůŝƟĞƐĨŽƌĨƵƚƵƌĞŐĞŶĞƌĂƟŽŶƐƚŽĐŽŵĞWůĞĂƐĞĨĞĞůĨƌĞĞƚŽďƌŝŶŐLJŽƵƌĞdžŝƐƟŶŐƉŽůŝĐLJĨŽƌĂŶŽŶ-ƐŝƚĞŶŽĐŽƐƚĞǀĂůƵĂƟŽŶ

6HVVLRQDP–SP

· ^WZĚǀĂŶĐĞĚŝŶĐůƵĚŝŶŐǀĂůƵĂƟŽŶƐĂŶĚWĂƐƚŽƌĂůdƌĂŶƐŝƟŽŶ–ZĞǀ^ƚĞǀĞ>ĂƌƐĞŶ—>ĞĂƌŶƚŚĞŬĞLJƌŽůĞƚŚĞ^WZŚĂŝƌƉůĂLJƐŝŶďŽƚŚƚŚĞŶŶƵĂůŚƵƌĐŚĂŶĚůĞƌŐLJǀĂůƵĂƟŽŶƐĂŶĚŝŶƚŚĞƉĂƐƚŽƌĂůƚƌĂŶƐŝƟŽŶƉƌŽĐĞƐƐ

· /ŵƉůĞŵĞŶƚůĞĐƚƌŽŶŝĐ'ŝǀŝŶŐŝŶϮϬϭϳ-WĂƵůŝĐŚĞůďĞƌŐĞƌΘsEK—:ŽŝŶƚŚĞŽŶĨĞƌĞŶĐĞdƌĞĂƐƵƌĞƌĂŶĚsĂŶĐŽĂƐƚŚĞLJĨŽĐƵƐĂĐŽŶǀĞƌƐĂƟŽŶŽŶǁŚLJƚŚŝƐŶĞĞĚƐƚŽďĞƚŚĞLJĞĂƌƚŚĂƚLJŽƵƌĐŚƵƌĐŚŝŵƉůĞŵĞŶƚƐĞůĞĐƚƌŽŶŝĐŐŝǀŝŶŐ^ƚƵĚŝĞƐƐŚŽǁƚŚĂƚĐŚƵƌĐŚĞƐǁŝƚŚĞůĞĐƚƌŽŶŝĐŐŝǀŝŶŐƌĞĂůŝnjĞϮϲйŐƌĞĂƚĞƌƚŽƚĂůŝŶĐŽŵĞƚŚĂƚƚŚŽƐĞĂĐĐĞƉƟŶŐũƵƐƚĐĂƐŚĂŶĚƉĞƌƐŽŶĂůĐŚĞĐŬƐtŚĂƐŽŶůLJϴϳĐŚƵƌĐŚĞƐǁŝƚŚĞůĞĐƚƌŽŶŝĐŐŝǀŝŶŐdŚĂƚƐůĞƐƐƚŚĂŶϭϱйŽĨŽƵƌϲϰϬĐŚƵƌĐŚĞƐĂŶĚǁĞĂƌĞǁĂLJďĞŚŝŶĚŝŶƉƌŽǀŝĚŝŶŐƚŚŝƐŵŝŶŝƐƚƌLJŽĨƐƚĞǁĂƌĚƐŚŝƉĨŽƌŽƵƌĐŽŶŐƌĞŐĂƟŽŶƐdŽƌĂŝƐĞŽƵƌƐĞŶƐĞŽĨƵƌŐĞŶĐLJƚŚĞŽŶĨĞƌĞŶĐĞŚĂƐŶĞŐŽƟĂƚĞĚĂƐƚĂƌƚƵƉƉĂĐŬĂŐĞǁŝƚŚsĂŶĐŽƚŚĂƚĞůŝŵŝŶĂƚĞƐĂůůŵŽŶƚŚůLJĨĞĞƐĨŽƌƵƉƚŽϮ-LJĞĂƌƐdŚĞŽīĞƌŝƐŐŽŽĚƚŚƌŽƵŐŚ:ƵŶĞϮϬϭϳŝŐŽƌƐŵĂůůƉůĞĂƐĞĐŽŶƐŝĚĞƌŵĂŬŝŶŐƚŚŝƐLJŽƵƌ&ŝŶĂŶĐĞŽŵŵŝƩĞĞŐŽĂůŝŶϮϬϭϳ

· ^ƉŝƌŝƚƵĂůŝƐĐŝƉůŝŶĞƐϭϬϭĨŽƌĚƵůƚƐ-ZĞǀƌƚdŚŽŵĂƐ—ŽŵĞĨŽƌĂďƌŝĞĨŝŶƚƌŽĚƵĐƟŽŶŽĨƐƉŝƌŝƚƵĂůĚŝƐĐŝƉůŝŶĞƐŽƌƉƌĂĐƟĐĞƐƚŚĂƚĚĞĞƉĞŶ ŽƵƌƌĞůĂƟŽŶƐŚŝƉǁŝƚŚ'ŽĚĂŶĚƐƚƌĞŶŐƚŚĞŶŽƵƌƐĞƌǀŝĐĞŽĨŽƚŚĞƌƐƐƌƵŶŶĞƌƐƚƌĂŝŶĨŽƌĂƌĂĐĞƚŚƌŽƵŐŚĞdžĞƌĐŝƐĞƐŽŚƌŝƐƟĂŶƐĚĞǀĞůŽƉƉƌĂĐƟĐĞƐƚŚĂƚǁŝůůŵĂŬĞƚŚĞŵƐƉŝƌŝƚƵĂůůLJĮƚĂŶĚĂůĞƌƚtĞƐŚĂůůĞdžĂŵŝŶĞďƌŝĞŇLJƐŽŵĞŽĨƚŚĞĂŶĐŝĞŶƚĚŝƐĐŝƉůŝŶĞƐƐƵĐŚĂƐƐŝůĞŶĐĞƐŽůŝƚƵĚĞƐƉŝƌŝƚƵĂůĚŝƌĞĐƟŽŶƉŝůŐƌŝŵĂŐĞƐŝŵƉůŝĐŝƚLJ^ĂďďĂƚŚƐƚƵĚLJĨĂƐƟŶŐĂŶĚƐĞůĨĐĂƌĞĂŶĚƚŚĞŶƐƉĞŶĚŵŽƌĞƟŵĞĞdžƉĞƌŝĞŶĐŝŶŐ^ĂĐƌĞĚZĞĂĚŝŶŐ:ŽƵƌŶĂůŝŶŐĂŶĚƚŚĞ:ĞƐƵƐWƌĂLJĞƌ;ƌƌƚdŚŽŵĂƐŚĂƐďĞĞŶƚĞĂĐŚŝŶŐƐƉŝƌŝƚƵĂůĨŽƌŵĂƟŽŶĂŶĚĐŚƵƌĐŚŚŝƐƚŽƌLJĂƚtĞƐůĞLJ^ĞŵŝŶĂƌLJĂŶĚdŚĞĐƵŵĞŶŝĐĂů/ŶƐƟƚƵƚĞŽĨdŚĞŽůŽŐLJĨŽƌĂďŽƵƚϮϱLJĞĂƌƐĂŶĚŝƐƉĂƐƚŽƌŽĨŝdžůĞƌƐ-DŝůůĞƌƐhDͿ

· ǀĞƌLJ^ƉŝƌŝƚƵĂůŶĐŽƵŶƚĞƌ-WĂƐƚŽƌůĂŶŐŽZŽƐƐ:ƌ—^ŽŵĞƟŵĞƐŝƚĨĞĞůƐĂƐŝĨŽƵƌĐŚƵƌĐŚŽƵƌǁŽƌƐŚŝƉĂŶĚŽƵƌĐŚƵƌĐŚŵĞĞƟŶŐƐĂƌĞŝŶĂƌƵƚĂŶĚǁĞĨĞĞůƚŚĞƌĞŝƐůŝƩůĞĞdžĐŝƚĞŵĞŶƚĂƐƚŚŝŶŐƐŚĂǀĞďĞĐŽŵĞŚĂďŝƚƵĂůůŝĨĞůĞƐƐĂŶĚĞǀĞŶŚĂƉůĞƐƐŝĨǁĞƌĞŚŽŶĞƐƚtĞĨŽƌŐĞƚƚŚĂƚ:ĞƐƵƐƌĞĨĞƌƐƚŽƵƐĂƐƚŚĞƐĂůƚŽĨƚŚĞĞĂƌƚŚDĂƩŚĞǁϱϭϯĂŶĚWĂƵůĂĚĚƐϮŽƌŝŶƚŚŝĂŶƐϮϭϱƚŽ'ŽĚǁĞĂƌĞƚŚĞĂƌŽŵĂŽĨŚƌŝƐƚ,ŽǁĐŽŵĞǁĞĚŽŶƚĨĞĞůƚŚĞƐĞĂƩƌŝďƵƚĞƐŵŽƌĞŽŌĞŶ,ĂǀĞǁĞůŽƐƚŽƵƌƐĂůƟŶĞƐƐŽƌŝƐƚŚĞĂƌŽŵĂƐŝŵƉůLJƉƵƚƌŝĚ dŚŝƐǁŽƌŬƐŚŽƉǁŝůůĨŽĐƵƐŽŶďƌŝŶŐŝŶŐĂƐƉŝƌŝƚƵĂůƉƌĞƐĞŶĐĞďĂĐŬŝŶƚŽŵĂŶLJĨƵŶĐƟŽŶƐŽĨĐŚƵƌĐŚůŝĨĞ/ƚǁŝůůĐĞŶƚĞƌŽŶƉůĂŶŶŝŶŐĂŶĚŵĂŬŝŶŐƌŽŽŵĨŽƌƚŚĞ,ŽůLJ^ƉŝƌŝƚĂŶĚŵŽƌĞƐŽĞdžƉĞĐƟŶŐ,ŝŵƚŽƐŚŽǁƵƉtĞǁŝůůĐŚĂůůĞŶŐĞƉĂƌƟĐŝƉĂŶƚƐƚŽůŽŽŬĂƚĞǀĞƌLJĐŚƵƌĐŚŐĂƚŚĞƌŝŶŐŝŶĐůƵĚŝŶŐǁŽƌƐŚŝƉĂƐĂŶŽƉƉŽƌƚƵŶŝƚLJĨŽƌĂƐƉŝƌŝƚƵĂůĞŶĐŽƵŶƚĞƌĞǀĞŶǁŚĞŶĂƐůŝƩůĞĂƐƚǁŽďĞůŝĞǀĞƌƐĞŶŐĂŐĞŝŶĂĐĂƌƉŽŽůĐŽīĞĞƐŚŽƉŽƌǀŝŐŽƌŽƵƐƐƚƌŽůůĨŽƌĞdžĞƌĐŝƐĞ,ŝŐŚůŝŐŚƚƐĨƌŽŵƚǁŽƌĞĨĞƌĞŶĐĞƐǁŝůůďĞƐŚĂƌĞĚ—'ŽĚƚdŚĞƌŽƐƐƌŽĂĚƐdŚĞ&ŽƵƌDŽǀĞŵĞŶƚƐŽĨdƌĂŶƐĨŽƌŵĂƟŽŶĂůtŽƌƐŚŝƉďLJ:ĞīWĂƩŽŶĂŶĚDĞĞƟŶŐƐDĂƩĞƌ^ƉŝƌŝƚƵĂůŝƚLJĂŶĚ^ŬŝůůƐĨŽƌDĞĞƟŶŐƐďLJWŚLJůůŝƐƌĂĚLJĂŶĚƌŝĂŶ'ƌŽŐĂŶ^: ;WĂƐƚŽƌůĂŶŐŽZŽƐƐ:ƌŝƐƉĂƐƚŽƌĂƚ^ƚƌĂǁďƌŝĚŐĞhDEĞǁtŝŶĚƐŽƌDͿ

· ŽĂƌĚŽĨdƌƵƐƚĞĞƐKƌŝĞŶƚĂƟŽŶ-ZĞǀŝůůƌŽǁŶ—zŽƵƌƌŽůĞĂƐƚƌƵƐƚĞĞŝƐŐŽǀĞƌŶĞĚďLJdŚĞŽŽŬŽĨŝƐĐŝƉůŝŶĞĞŝŶŐĂƚƌƵƐƚĞĞŽĨLJŽƵƌůŽĐĂůĐŚƵƌĐŚŝƐĂŶŝŵƉŽƌƚĂŶƚƌŽůĞĂŶĚŽŶĞŝŶǁŚŝĐŚLJŽƵĐĂŶƚĂŬĞŐƌĞĂƚƉůĞĂƐƵƌĞtŚĞŶLJŽƵƚĂŬĞƚŚŝƐĐůĂƐƐLJŽƵǁŝůůƌĞĐĞŝǀĞĂĐŽƉLJŽĨƚŚĞŶĞǁ'ƵŝĚĞůŝŶĞƐŬůĞƚǁŚŝĐŚŝƐŝŶƚĞŶĚĞĚƚŽďĞĂŐƵŝĚĞĂƐLJŽƵďĞŐŝŶĨƵůĮůůŝŶŐLJŽƵƌƌĞƐƉŽŶƐŝďŝůŝƟĞƐĂŶĚĂƌĞĨĞƌĞŶĐĞƚŚƌŽƵŐŚŽƵƚLJŽƵƌƚĞŶƵƌĞĂƐƚƌƵƐƚĞĞ;ZĞǀŝůůƌŽǁŶŝƐĐŚĂŝƌŽĨƚŚĞĂůƟŵŽƌĞ-tĂƐŚŝŶŐƚŽŶŽŶĨĞƌĞŶĐĞŽĂƌĚŽĨdƌƵƐƚĞĞƐͿ

3DJHRI

:HVWHUQ5HJLRQ·V/HDGHUVKLS'D\V &ODVV'HVFULSWLRQV

67(383

3DJHRI

· &Ƶůů/ŶĐůƵƐŝŽŶĂŶĚZĞĐŽŶĐŝůŝĂƟŽŶtŚLJŶŽǁ-DŝƫĞYƵŝŶŶ—dŚŝƐǁŽƌŬƐŚŽƉǁŝůůůŽŽŬ ĂƚǁĂLJƐƚŚĂƚĐŚƵƌĐŚĞƐĐĂŶǁŝĚĞŶƚŚĞŝƌǁĞůĐŽŵĞƚŽ>'dƉĞƌƐŽŶƐĂŶĚŚĞůƉƚŚĞhDŵŽǀĞ ƚŽǁĂƌĚĨƵůůŝŶĐůƵƐŝŽŶĂŶĚƌĞĐŽŶĐŝůŝĂƟŽŶǁŝƚŚĂůůŽĨ'ŽĚΖƐĐŚŝůĚƌĞŶdŽƉŝĐƐĂŶĚĚŝƐĐƵƐƐŝŽŶǁŝůůďĞŐƵŝĚĞĚďLJƚŚĞŶĞĞĚƐŽĨƚŚĞŐƌŽƵƉďƵƚǁŝůůŝŶĐůƵĚĞŝŶĨŽƌŵĂƟŽŶĂďŽƵƚǁŚĂƚƚŚĞZĞĐŽŶĐŝůŝŶŐDŝŶŝƐƚƌŝĞƐEĞƚǁŽƌŬŝƐĂŶĚĚŽĞƐƚŚĞŚŝƐƚŽƌLJŽĨƚŚĞhDƚŚĂƚůĞĚƚŽƚŚĞĨŽƌŵĂƟŽŶŽĨƚŚĞEĞƚǁŽƌŬŵŝŶŝƐƚƌŝĞƐŽĨĂƌĞĂĐŚƵƌĐŚĞƐƚŚĂƚĂƌĞƉĂƌƚŽĨZDEǁŚĂƚŝƚŵĞĂŶƐƚŽďĞĂŵĞŵďĞƌĐŚƵƌĐŚĂŶĚƐƚĞƉƐƚŽďĞĐŽŵŝŶŐĂƉĂƌƚŽĨƚŚĞZDEĞƚǁŽƌŬŝƐĐƵƐƐŝŽŶǁŝůůĂůƐŽďĞŝŶĐůƵĚĞĚƌĞŐĂƌĚŝŶŐƌĞůĂƚĞĚƐƚĂƚĞŵĞŶƚƐŝŶƚŚĞhDŝƐĐŝƉůŝŶĞ,ĂŶĚŽƵƚƐƌĞŐĂƌĚŝŶŐƌĞůĂƚĞĚƚŽƉŝĐƐǁŝůůďĞƉƌŽǀŝĚĞĚ;DŝƫĞYƵŝŶŶŝƐĂůŝĨĞůŽŶŐhŶŝƚĞĚDĞƚŚŽĚŝƐƚ^ŚĞǁĂƐƉĂƌƚŽĨƚŚĞĐŚƵƌĐŚǁŚĞŶŝƚďĞĐĂŵĞƉĂƌƚŽĨƚŚĞZĞĐŽŶĐŝůŝŶŐDŝŶŝƐƚƌŝĞƐEĞƚǁŽƌŬŝŶϭϵϴϰƌYƵŝŶŶŝƐĂůƐŽŽŶƚŚĞĨĂĐƵůƚLJŽĨƚŚĞ^ĐŚŽŽůWƐLJĐŚŽůŽŐLJƉƌŽŐƌĂŵĂƚ'ĞŽƌŐĞDĂƐŽŶhŶŝǀĞƌƐŝƚLJͿ

· 'ƌŽǁŝŶŐǁŝƚŚ'ŽĚ-ĞƚƐLJWŚĞůƉƐΘŽŶŶŝĞƌĂŶƚŶĞƌ—^ƉŝƌŝƚƵĂůĨŽƌŵĂƟŽŶƐƚĂƌƚƐĂƐĞĂƌůLJĂƐƚŚĞĐƌĂĚůĞ ĂŶĚĞdžƚĞŶĚƐƚŚƌŽƵŐŚŽƵƚůŝĨĞ ƐƉĞƌƐŽŶƐŵĂƚƵƌĞƐŽƐŚŽƵůĚƚŚĞŝƌƌĞůĂƟŽŶƐŚŝƉǁŝƚŚ'ŽĚ ŽŵĞĞdžƉůŽƌĞǁĂLJƐ ǁĞĂƐƚŚĞĐŚƵƌĐŚĐĂŶƉƌŽǀŝĚĞŽƉƉŽƌƚƵŶŝƟĞƐĨŽƌƉĞƌƐŽŶƐƚŽŐƌŽǁŝŶƚŚĞŝƌŬŶŽǁůĞĚŐĞĂŶĚƵŶĚĞƌƐƚĂŶĚŝŶŐŽĨ'ŽĚƚŚƌŽƵŐŚĂůůƐƚĂŐĞƐŽĨůŝĨĞ DĞŵďĞƌƐŽĨƚŚĞĂůƟŵŽƌĞ-tĂƐŚŝŶŐƚŽŶŚƌŝƐƟĂŶƐŶŐĂŐĞĚŝŶ&ĂŝƚŚ&ŽƌŵĂƟŽŶ;&ͿǁŝůůĐŽǀĞƌďŽƚŚƚŚĞƐƉŝƌŝƚƵĂůĨŽƵŶĚĂƟŽŶƐŽĨŚƌŝƐƟĂŶĚƵĐĂƟŽŶĂŶĚŚŽǁLJŽƵĐĂŶƵƐĞƚŚĞŵƚŽƐŚĂƉĞƚŚĞĞĚƵĐĂƟŽŶĂůŵŝŶŝƐƚƌLJŽĨLJŽƵƌĐŽŶŐƌĞŐĂƟŽŶ;ĞƚƐLJWŚĞůƉƐŚĂƐďĞĞŶĂĐƟǀĞŝŶŚƌŝƐƟĂŶĚƵĐĂƟŽŶƚŚƌŽƵŐŚŽƵƚŚĞƌůŝĨĞŵŽƐƚƌĞĐĞŶƚůLJƐĞƌǀŝŶŐĂƐƚŚĞŝƌĞĐƚŽƌŽĨŚƌŝƐƟĂŶĚƵĐĂƟŽŶĂƚƌŽŽŬ,ŝůůhŶŝƚĞĚDĞƚŚŽĚŝƐƚŚƵƌĐŚŝŶ&ƌĞĚĞƌŝĐŬƵŶƟůƌĞƟƌŝŶŐůĂƐƚLJĞĂƌͿ

6HVVLRQ–SP

· tŚĞŶ,ĞůƉŝŶŐ,ĞůƉƐ-WĂƵůKƐƚŽŝĐŚdŚDDŝŶ—tĞƚƌƵůLJĚĞƐŝƌĞƚŽŚĞůƉƚŚŽƐĞŝŶŶĞĞĚďƵƚŽŌĞŶĂƌĞƵŶĂǁĂƌĞƚŚĂƚŽƵƌĞīŽƌƚƐŵĂLJďĞŚƵƌƟŶŐŵŽƌĞƚŚĂŶŚĞůƉŝŶŐdŚĞĐůĂƐƐĞdžƉŽƐĞƐƚŚĞƉƌŝŶĐŝƉůĞƐŽĨǀŝĞǁŝŶŐƚŚŽƐĞŝŶŶĞĞĚƚŚƌŽƵŐŚƚŚĞŝƌĞLJĞƐĂŶĚĚĞĐŝĚŝŶŐƚŽƌĞƉůĂĐĞĚŽŝŶŐƚŽĂŶĚĨŽƌǁŝƚŚĚŽŝŶŐǁŝƚŚĂŶĚŚĞůƉŝŶŐŝŶĂƌĞůĂƟŽŶĂůǁĂLJ^ŽŵĞŐĞŶĞƌĂůŐƵŝĚĞůŝŶĞƐǁŝůůďĞŽīĞƌĞĚĂůůŽǁŝŶŐƉĞŽƉůĞƚŽŵŽǀĞƚŽǁĂƌĚƐƐĞůĨ-ƐƵĸĐŝĞŶĐLJǁŝƚŚĂŶƵŶĚĞƌƐƚĂŶĚŽĨŚŽǁ'ŽĚƐǀĂůƵĞƚŚĞŵ;WĂƵůKƐƚŽŝĐŚŚĂƐďĞĞŶŝŶĨƵůůƟŵĞŵŝŶŝƐƚƌLJƐŝŶĐĞϭϵϴϰĂƐƉĂƐƚŽƌĂŶĚŚƌŝƐƟĂŶĞĚƵĐĂƟŽŶĚŝƌĞĐƚŽƌŝŶĂǀĂƌŝĞƚLJŽĨŵŝŶŝƐƚƌŝĞƐ,ĞŚĂƐďĞĞŶŝŶǀŽůǀĞĚŝŶůŽĐĂůĞīŽƌƚƐǁŝƚŚƚŚĞŚŽŵĞůĞƐƐĂŶĚƚƌĂŝŶŝŶŐĐŚƵƌĐŚĞƐƚŽŵŽƌĞĞīĞĐƟǀĞůLJĂƐƐŝƐƚƚŚĞŚŽŵĞůĞƐƐĂŶĚƉŽŽƌƚŽďĞĐŽŵĞƐĞůĨ-ƐƵĸĐŝĞŶƚ,ĞŝƐĂůƐŽĂĐƟǀĞŝŶƚŚĞKƉĞŶdĂďůĞŵŝŶŝƐƚƌLJŚĞůƉŝŶŐƚŚĞŵĂƚĞƌŝĂůƉŽŽƌͿ

· hŶĚĞƌƐƚĂŶĚŝŶŐKƵƌ'ŝǀĞƌƐ-&ƌĂŶŬZŽďĞƌƚ—tŚLJĂŶĚŚŽǁĚŝīĞƌĞŶƚŐŝǀĞƌƐŐŝǀĞŽǁŽŵĞŶŐŝǀĞŵŽƌĞƚŚĂŶŵĞŶŽǁĞĂůƚŚŝĞƌĨŽůŬƐŐŝǀĞŵŽƌĞƚŚĂŶŶŽŶ-ǁĞĂůƚŚLJŽĞƐĂŐĞŵĂƩĞƌŝŶŐŝǀŝŶŐŽĞƐƚŚĞĐŚƵƌĐŚŚĂǀĞĂŶLJĐŽŵƉĞƟƟŽŶĨŽƌŐŝǀŝŶŐ/ĨƐŽǁŚĂƚĐĂŶǁĞĚŽĂďŽƵƚŝƚ/ƐŽƵƌĐŚƵƌĐŚĂϵϬϭϬŽƌĂŶϴϬϮϬĐŚƵƌĐŚtŝůůϯϰϬϮĐϮĐŝŶƚŚĞŽŽŬŽĨŝƐĐŝƉůŝŶĞĞīĞĐƚŽƵƌĐŚƵƌĐŚ,ŽǁĐĂŶǁĞƵƐĞƚŚŝƐŝŶĨŽƌŵĂƟŽŶƚŽŚĞůƉƵƐŝŶŽƵƌĐŚƵƌĐŚĞƐtŚĂƚĂƌĞƚŚĞĞƐƐĞŶƟĂůƐǁĞŶĞĞĚƚŽŬŶŽǁƚŽŵĂŬĞŝƚĞĂƐŝĞƌĨŽƌĨŽůŬƐƚŽŐŝǀĞ,ŽǁĐĂŶŽƵƌĐŚƵƌĐŚĞƐƌĞĐĞŝǀĞůĂƌŐĞŐŝŌƐtĞǁŝůůĚŝƐĐƵƐƐƌĞĂůĐĂƐĞƐƚƵĚŝĞƐƚŚĂƚǁŝůůŚĞůƉƵƐƚŽĨƵƌƚŚĞƌƵŶĚĞƌƐƚĂŶĚŚŽǁƚŽŵĂŬĞŝƚĞĂƐŝĞƌĨŽƌĚŽŶŽƌƐƚŽŐŝǀĞƚŽŽƵƌŚƵƌĐŚĞƐtĞǁŝůůůĞĂǀĞƚŚĞǁŽƌŬƐŚŽƉǁŝƚŚĂϳĚĂLJĂŶĚĂϵϬĚĂLJĂĐƟŽŶŝƚĞŵƐƚŽŚĞůƉƵƐƚŽŝŶĐƌĞĂƐĞŐŝǀŝŶŐŝŶŽƵƌĐŚƵƌĐŚ;&ƌĂŶŬZŽďĞƌƚŝƐƚŚĞƐƐŽĐŝĂƚĞŝƌĞĐƚŽƌŽĨƚŚĞDŝĚ-ƚůĂŶƟĐhŶŝƚĞĚDĞƚŚŽĚŝƐƚ&ŽƵŶĚĂƟŽŶĂ&ŝŶĂŶĐŝĂů&ŽƵŶĚĂƟŽŶŵĂŶĂŐŝŶŐŝŶǀĞƐƚŵĞŶƚƐĨŽƌŝŶĚŝǀŝĚƵĂůƐĂŶĚŽƌŐĂŶŝnjĂƟŽŶƐĂĸůŝĂƚĞĚǁŝƚŚƚŚĞhŶŝƚĞĚDĞƚŚŽĚŝƐƚŚƵƌĐŚƚŚĂƚĂƌĞŵĂŶĂŐĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞƐŽĐŝĂůƉƌŝŶĐŝƉĂůƐŽĨƚŚĞhŶŝƚĞĚDĞƚŚŽĚŝƐƚŚƵƌĐŚĂŶĚĂƌĞŽƵƚůŝŶĞĚŝŶƚŚĞhDƐŽŽŬŽĨŝƐĐŝƉůŝŶĞ ,ĞůŽǀĞƐďĞŝŶŐĂďůĞƚŽŚĞůƉƚŚĞĚŝǀĞƌƐĞŐƌŽƵƉƐŽĨŚƵƌĐŚĞƐĨƌŽŵŝŶŶĞƌĐŝƚLJƚŽƐƵďƵƌďŝĂƚŽĐŽƵŶƚƌLJĐŚƵƌĐŚĞƐͿ

· dĞĂĐŚŝŶŐzŽƵƚŚƚŽ^ĂĨĞůLJƵƐĞ^ŽĐŝĂůDĞĚŝĂ-WĂŵŽǁĞŶDĂƌŝĞďĞƌƐŽůĞΘŶŐĞůĂ&ŽƐƐĞƩ—dŚŝƐĐůĂƐƐŝƐŐĞĂƌĞĚƚŽǁĂƌĚĂĚƵůƚƐǁŚŽŝŶƚĞƌĂĐƚǁŝƚŚLJŽƵƚŚŝŶƚŚĞŝƌĐŚƵƌĐŚďƵƚƚŚĞƚŽƉŝĐƐǁŽƵůĚďĞŽĨŝŶƚĞƌĞƐƚƚŽĂŶLJŽŶĞǁŚŽŚĂƐĂŶŽŶ-ůŝŶĞƉƌĞƐĞŶĐĞdŽƉŝĐƐǁŝůůŝŶĐůƵĚĞŽŶ-ůŝŶĞƐĂĨĞƐĂŶĐƚƵĂƌŝĞƐŐƵŝĚĞůŝŶĞƐĨŽƌƚĞdžƟŶŐĂŶĚĞŵĂŝůŝŶŐĂŶĚƚŚĞƐĂĨĞƵƐĞŽĨƐŽĐŝĂůŵĞĚŝĂZĞƐŽƵƌĐĞƐǁŝůůďĞŽīĞƌĞĚĂďŽƵƚĚĞĂůŝŶŐǁŝƚŚLJŽƵƚŚĚĞƉƌĞƐƐŝŽŶƐƵŝĐŝĚĞĂŶĚďƵůůLJŝŶŐ;WĂŵĞůĂŽǁĞŶŝƐƚŚĞzŽƵƚŚDŝŶŝƐƚƌLJŽŽƌĚŝŶĂƚŽƌĨŽƌƚŚĞthDǁŝůůďĞũŽŝŶĞĚďLJDĂƌŝĞďĞƌƐŽůĞŝƐƚƌŝĐƚzŽƵƚŚŽŽƌĚŝŶĂƚŽƌƵŵďĞƌůĂŶĚ,ĂŐĞƌƐƚŽǁŶĂŶĚŶŐĞůĂ&ŽƐƐĞƩŝƐƚƌŝĐƚzŽƵƚŚŽŽƌĚŝŶĂƚŽƌ&ƌĞĚĞƌŝĐŬͿ

:HVWHUQ5HJLRQ·V/HDGHUVKLS'D\V &ODVV'HVFULSWLRQV

67(383 · ŝĚLJŽƵŬŶŽǁhŶŝƚĞĚDĞƚŚŽĚŝƐƚƐŚĂǀĞĂŝƐƟŶĐƟǀĞ,ĞƌŝƚĂŐĞ-ZĞǀƌŽŶƌĂĚ>ŝŶŬ—

,ĂǀĞLJŽƵĞǀĞƌŚĞĂƌĚŽĨƚŚĞƉƌĂĐƟĐĂůŝƚLJŽĨĂhŶŝƚĞĚDĞƚŚŽĚŝƐƚŽƌƚŚĞƚŚĞŽůŽŐŝĐĂůĨƌĂŵĞǁŽƌŬŽĨƚŚĞĐŚƵƌĐŚŽƌƚŚĞĂƌƟĐůĞƐŽĨƌĞůŝŐŝŽŶŽĨŽƵƌĐŚƵƌĐŚŽŵĞĂŶĚĞŶũŽLJƚŚĞĐŽŶǀĞƌƐĂƟŽŶĂƐǁĞƐĞĂƌĐŚƚŚĞĮƌƐƚϵϬƉĂŐĞƐŽĨƚŚĞŽŽŬŽĨŝƐĐŝƉůŝŶĞŽĨƚŚĞhŶŝƚĞĚDĞƚŚŽĚŝƐƚŚƵƌĐŚ ŽŵĞĂŶĚĚŝƐĐŽǀĞƌǁŚLJǁĞĚŽǁŚĂƚǁĞĚŽĂŶĚďĞůŝĞǀĞǁŚĂƚǁĞďĞůŝĞǀĞĂŶĚƚŚĞƌĞĨŽƌĞĂĐƚůŝŬĞǁĞ;ƐŚŽƵůĚͿĂĐƚĂŶĚƐĞƌǀĞƚŚĞǁĂLJǁĞ;ƐŚŽƵůĚͿƐĞƌǀĞ;ZĞǀƌŽŶƌĂĚ>ŝŶŬŝƐƚŚĞ^ƵƉĞƌŝŶƚĞŶĚĞŶƚŽĨƚŚĞƵŵďĞƌůĂŶĚ-,ĂŐĞƌƐƚŽǁŶŝƐƚƌŝĐƚͿ

· ,ĞƌŽŝŶĂŶĚdŚĞŚƵƌĐŚKƵƚƌĞĂĐŚ^ƚƌĂƚĞŐŝĞƐƚŽŶŐĂŐĞzŽƵƌŚƵƌĐŚ-ZĞǀ>ĞŽzĂƚĞƐ:ƌ>W—dŚĞŽŵŵŝƐƐŝŽŶŽŶŝƐĂďŝůŝƚLJŽŶĐĞƌŶƐŝƐŚŽƐƟŶŐƚŚŝƐǁŽƌŬƐŚŽƉǁŚŝĐŚǁŝůůƉƌŽǀŝĚĞĞĚƵĐĂƟŽŶĂďŽƵƚƚŚĞŚĞƌŽŝŶĞƉŝĚĞŵŝĐŝŶŽƵƌĐŽŵŵƵŶŝƟĞƐŽƉŝŽŝĚĂĚĚŝĐƟŽŶ-ƐĞƉĂƌĂƟŶŐŵLJƚŚƐĨƌŽŵĨĂĐƚƐĐŽŵŵŽŶŵĞĚŝĐĂůƚƌĞĂƚŵĞŶƚƐĂŶĚǀĂƌŝŽƵƐƌĞĐŽǀĞƌLJĂƉƉƌŽĂĐŚĞƐůƐŽƐƚƌĂƚĞŐŝĞƐǁŝůůďĞĚŝƐĐƵƐƐĞĚ ĨŽƌĞŶŐĂŐŝŶŐĐŚƵƌĐŚĞƐǁŝƚŚŝŶƚŚĞŝƌĐŽŵŵƵŶŝƟĞƐƚŚĂƚŶŽƚŽŶůLJƉƌŽǀŝĚĞŵĞƌĐLJĂŶĚĐĂƌĞƚŽƚŚĞĂĚĚŝĐƚďƵƚƚŽƚŚĞŝƌĨĂŵŝůŝĞƐĂƐǁĞůůdŚŝƐŝŶƚĞƌĂĐƟǀĞǁŽƌŬƐŚŽƉǁŝůůƉƌŽǀŝĚĞŝŶƐŝŐŚƚƚŽƚŚĞZĞĐŽǀĞƌLJKƌŝĞŶƚĞĚ^LJƐƚĞŵƐŽĨĂƌĞ;ZK^ͿĂŶĚŚŽǁĐŚƵƌĐŚĞƐĐĂŶďĞŝŶĐůƵĚĞĚŝŶƚŚĞŽǀĞƌĂůůĐĂƌĞ;ZĞǀ>ĞŽzĂƚĞƐ:ƌŝƐĂƉƌŽǀŝƐŝŽŶĂůĚĞĂĐŽŶƐĞƌǀŝŶŐĂƚƚŚĞhŶŝǀĞƌƐŝƚLJŽĨDĂƌLJůĂŶĚDĞĚŝĐĂůĞŶƚĞƌŝŶĂůƟŵŽƌĞDƐĂůŝĐĞŶƐĞĚĐůŝŶŝĐŝĂŶŚĞŝƐƚŚĞĚŝƌĞĐƚŽƌŽĨĞĂĨĚĚŝĐƟŽŶ^ĞƌǀŝĐĞƐĂƚDĂƌLJůĂŶĚ;^DͿƉƌŽǀŝĚŝŶŐĐůŝŶŝĐĂůƐƵƉĞƌǀŝƐŝŽŶƚŽĐŽƵŶƐĞůŝŶŐƐƚĂīĂƐǁĞůůĂƐĚŝƌĞĐƚĐĂƌĞƚŽĐůŝĞŶƚƐůƐŽŚĞƐƉĞĐŝĂůŝnjĞƐŝŶĐŽƵŶƐĞůŝŶŐǁŝƚŚĂŶĞŵƉŚĂƐŝƐŝŶĐŽ-ŽĐĐƵƌƌŝŶŐĚŝƐŽƌĚĞƌƐ;ŵĞŶƚĂůŚĞĂůƚŚĂŶĚĂĚĚŝĐƟŽŶͿĂƐǁĞůůĂƐĞĂĨDŝŶŝƐƚƌLJ,ŝƐƐĞĐŽŶĚĂƌLJĂƉƉŽŝŶƚŵĞŶƚŝƐĂƚDĂŐŽƚŚLJhDŽĨƚŚĞĞĂĨŝŶWĂƐĂĚĞŶĂDͿ

· DĞĚŝĂDĂƌŬĞƟŶŐΘWƌŝŶƚWƵďůŝĐĂƟŽŶƐ-ZĞǀĞƚŚ,ƵƩŽŶΘDƌ'ŝďŝƐŚŽƉ—dŚŝƐǁŽƌŬƐŚŽƉǁŝůůŐŽŽǀĞƌƚŚĞďĂƐŝĐƐĨƌŽŵǁĞďƐŝƚĞĚĞƐŝŐŶƐŽĐŝĂůŵĞĚŝĂƵƐĂŐĞĂŶĚƉƌŝŶƚƉƵďůŝĐĂƟŽŶƐƐƵĐŚĂƐĐŚƵƌĐŚŶĞǁƐůĞƩĞƌƐƐŝŐŶƐĂŶĚďƵůůĞƟŶƐ ĞƐƚƉƌĂĐƟĐĞƐĨƌŽŵĂƚĞĂŵǁŚŽƵƐĞƐŝƚĂůů;ZĞǀĞƚŚ,ƵƩŽŶƐƐŽĐŝĂƚĞWĂƐƚŽƌĂŶĚ'ŝďŝƐŚŽƉDĞĚŝĂŝƌĞĐƚŽƌĨƌŽŵDŝĚĚůĞƚŽǁŶhDͿ

· >ĂLJ^ĞƌǀĂŶƚDŝŶŝƐƚƌŝĞƐĂŶĚĞƌƟĮĞĚ>ĂLJDŝŶŝƐƚƌLJtŚĂƚƐEĞǁŌĞƌ'ĞŶĞƌĂůŽŶĨĞƌĞŶĐĞϮϬϭϲ-:ƵůŝĞ&ůŝŶĐŚƵŵ—dŚŝƐĐůĂƐƐŝƐĨŽƌKd,ůĞƌŐLJĂŶĚ>ĂŝƚLJ—tŚĞƚŚĞƌLJŽƵĂƌĞŶĞǁƚŽ>ĂLJ^ĞƌǀĂŶƚDŝŶŝƐƚƌLJŽƌďĞĞŶŝŶǀŽůǀĞĚĨŽƌLJĞĂƌƐƚŚŝƐƐĞƐƐŝŽŶǁŝůůŝŶĨŽƌŵLJŽƵŽĨƚŚĞĐŚĂŶŐĞƐĨƌŽŵ'ĞŶĞƌĂůŽŶĨĞƌĞŶĐĞϮϬϭϲƚŚĞtŽŵŵŝƩĞĞŽŶ>ĂLJ^ĞƌǀĂŶƚDŝŶŝƐƚƌLJĂŶĚŐŝǀĞLJŽƵŝŶĨŽƌŵĂƟŽŶŽŶƚŚĞŵĂŶLJƚƌĂĐŬƐ>ĂŝƚLJŵĂLJĨŽůůŽǁŝŶƚŽ>ĂLJ^ĞƌǀĂŶƚDŝŶŝƐƚƌLJ;:ƵůŝĞ&ůŝŶĐŚƵŵĂůƟŵŽƌĞ-tĂƐŚŝŶŐƚŽŶŽŶĨĞƌĞŶĐĞŚĂŝƌƉĞƌƐŽŶĂŶĚŝƌĞĐƚŽƌŽĨ>ĂLJ^ĞƌǀĂŶƚͿ

· /ŵƉůĞŵĞŶƚůĞĐƚƌŽŶŝĐ'ŝǀŝŶŐŝŶϮϬϭϳ-WĂƵůŝĐŚĞůďĞƌŐĞƌΘsEK—:ŽŝŶƚŚĞŽŶĨĞƌĞŶĐĞdƌĞĂƐƵƌĞƌĂŶĚsĂŶĐŽĂƐƚŚĞLJĨŽĐƵƐĂĐŽŶǀĞƌƐĂƟŽŶŽŶǁŚLJƚŚŝƐŶĞĞĚƐƚŽďĞƚŚĞLJĞĂƌƚŚĂƚLJŽƵƌĐŚƵƌĐŚŝŵƉůĞŵĞŶƚƐĞůĞĐƚƌŽŶŝĐŐŝǀŝŶŐ^ƚƵĚŝĞƐƐŚŽǁƚŚĂƚĐŚƵƌĐŚĞƐǁŝƚŚĞůĞĐƚƌŽŶŝĐŐŝǀŝŶŐƌĞĂůŝnjĞϮϲйŐƌĞĂƚĞƌƚŽƚĂůŝŶĐŽŵĞƚŚĂƚƚŚŽƐĞĂĐĐĞƉƟŶŐũƵƐƚĐĂƐŚĂŶĚƉĞƌƐŽŶĂůĐŚĞĐŬƐtŚĂƐŽŶůLJϴϳĐŚƵƌĐŚĞƐǁŝƚŚĞůĞĐƚƌŽŶŝĐŐŝǀŝŶŐdŚĂƚƐůĞƐƐƚŚĂŶϭϱйŽĨŽƵƌϲϰϬĐŚƵƌĐŚĞƐĂŶĚǁĞĂƌĞǁĂLJďĞŚŝŶĚŝŶƉƌŽǀŝĚŝŶŐƚŚŝƐŵŝŶŝƐƚƌLJŽĨƐƚĞǁĂƌĚƐŚŝƉĨŽƌŽƵƌĐŽŶŐƌĞŐĂƟŽŶƐdŽƌĂŝƐĞŽƵƌƐĞŶƐĞŽĨƵƌŐĞŶĐLJƚŚĞŽŶĨĞƌĞŶĐĞŚĂƐŶĞŐŽƟĂƚĞĚĂƐƚĂƌƚƵƉƉĂĐŬĂŐĞǁŝƚŚsĂŶĐŽƚŚĂƚĞůŝŵŝŶĂƚĞƐĂůůŵŽŶƚŚůLJĨĞĞƐĨŽƌƵƉƚŽϮ-LJĞĂƌƐdŚĞŽīĞƌŝƐŐŽŽĚƚŚƌŽƵŐŚ:ƵŶĞϮϬϭϳŝŐŽƌƐŵĂůůƉůĞĂƐĞĐŽŶƐŝĚĞƌŵĂŬŝŶŐƚŚŝƐLJŽƵƌ&ŝŶĂŶĐĞŽŵŵŝƩĞĞŐŽĂůŝŶϮϬϭϳ

ΕEΕ

3DJHRI