rqv - rcpoa 7-2019.pdf · rqv - rcpoa ... z

16
Royal and Greenbriar Canyons Et^>ddZ &KZ d, Z^/Ed^ K& ZKz> E 'ZEZ/Z EzKE^ ƵŐƵƐƚ ^ĞƉƚĞŵďĞƌ ϮϬϭϵ ŚƩƉZWKEd &hE &KZ d, t,K> &D/>z The RCPOA invites you to attend our Italian Renaissance Dinner Party and Summer Social Saturday, September 7th 6:00 pm

Upload: others

Post on 07-Nov-2020

6 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: RQV - RCPOA 7-2019.pdf · RQV - RCPOA ... z

Royal and Greenbriar Canyons

Et^>ddZ&KZd,Z^/Ed^K&ZKz>E'ZEZ/ZEzKE^

ƵŐƵƐƚ^ĞƉƚĞŵďĞƌϮϬϭϵ ŚƩƉZWKEd

&hE&KZd, t,K>&D/>z

The RCPOA invites you to attend our

Italian Renaissance Dinner Party

and Summer Social

Saturday, September 7th

6:00 pm

Page 2: RQV - RCPOA 7-2019.pdf · RQV - RCPOA ... z

ZWKEĞŝŐŚďŽƌŚŽŽĚEĞǁƐ WĂŐĞϮ

52<$/*5((1%5,$5&$1<216$5($+20(6$/(6 )256$/($VRI-XQH

,1(6&52:2562/'6LQFH'HFHPEHU GDWHRIWKHODVW5&32$UHDOHVWDWHXSGDWH

&$1&(/(':,7+'5$:1(;3,5('2521+2/'6$/(66LQFH'HFHPEHU

3UHSDUHGE\/HDQQH5H\QROGV5HDOWRU*&3URSHUWLHV $QDUHDH[SHUWIRURYHUDGHFDGH ,QIRUPDWLRQWDNHQIURP0/60XOWLSOH/LVWLQJ6HUYLFH

'HILQLWLRQVĂŶĐĞůĞĚ^ĞůůĞƌƐĐŽŶƚƌĂĐƚǁŝƚŚĂŐĞŶĐLJĐĂŶĐĞůĞĚĂLJƐKŶDĂƌŬĞƚEƵŵďĞƌŽĨĚĂLJƐƚŚĞŚŽŵĞŚĂƐďĞĞŶĨŽƌƐĂůĞ,ŽůĚ^ĞůůĞƌƉƵƚƐĂůĞŽŶŚŽůĚhŶĚĞƌŽŶƚƌĂĐƚŽŶƟŶŐĞŶĐŝĞƐŶŽƚLJĞƚƌĞŵŽǀĞĚĂƐŽĨ:ƵŶĞϮϲϮϬϭϵ

$GGUHVV %HG-URRPV

%DWK-URRPV

6T)W +RXVH

6T)W /RW

/LVWLQJ3ULFH

'D\VRQ0DUNHW

6WDWXV

$OFDOGH:D\ $&7,9(

$OFDOGH'ULYH $&7,9(

/DV)ORUHV'ULYH $&7,9(

$GGUHVV %HG-URRPV

%DWK-URRPV

6T)W +RXVH

6T)W /RW

6ROG3ULFH 'D\VRQ0DUNHW

6WDWXV

*UHHQEULDU5RDG 8QGHU&RQWUDFW

*UHHQEULDU5RDG 8QGHU&RQWUDFW

,PSHULDO'ULYH 62/'

,PSHULDO'ULYH 62/'

,PSHULDO'ULYH 62/'

0RUHQR'ULYH 62/'

$GGUHVV %HG-URRPV

%DWK-URRPV

6T)W +RXVH

6T)W /RW

/LVWLQJ3ULFH

'D\VRQ0DUNHW

6WDWXV

/DV)ORUHV'ULYH +ROG

/DV)ORUHV'ULYH &DQFHOHG

5HDO(VWDWH8SGDWH-0LG\HDU5HSRUWIRU %\/HDQQH5H\QROGV

7KHUHDOHVWDWHLQGXVWU\LVDOZD\VLQWKHQHZVDQGKHUHDUHWKHPRVWIUHTXHQWWRSLFVRIWKH\HDU

· 7KHDIIRUGDELOLW\RIKRPHVLQ/RV$QJHOHV&RXQW\

· 5HGXFHGSURSHUW\WD[GHGXFWLRQZLWKWKH7D[&XWVDQG-REV$FWZKHUHE\6WDWHDQG/RFDO7D[GHGXFWLRQFRPELQHGZLWKSURSHUW\WD[LVFDSSHGDW

· 1DWLRQZLGHORZPRUWJDJHLQWHUHVWUDWHVFRQWLQXHLQ

· 6WDWHZLGHVKRUWDJHRIKRPHVRQWKHPDUNHWSDUWLFXODUO\LQPDMRUPHWURSROLWDQFLWLHVLQFOXGLQJ*OHQGDOH

:KLOHLWKDVQRWWXUQHGLQWRDEX\HUV¶PDUNHWWKHFRPSHWLWLRQDPRQJEX\HUVLVWDSHULQJRII:LWKKRPHSULFHVULVLQJIRUWKHODVWHLJKW\HDUVDIIRUGDELOLW\RIKRPHVLVWDNLQJFHQ

WHUVWDJHZLWKEX\HUV+LJKSULFHVEULQJKLJKEX\HUH[SHFWDWLRQV%X\HUVDUHYHU\FDUHIXODERXWZKDWWKH\EX\DQGKRZPXFKWKH\SD\:LWKIHZHUELGGLQJZDUVDPRQJEX\HUVIRUKRPHVVHOOHUVRIWHQDFFHSWORZHURIIHUV

6XSSO\UHPDLQVORZIRUWKHGHPDQGRIVLQJOH-IDPLO\KRPHVLQDOOSULFHUDQJHV7KLVLVDOVRWKHWUHQGLQRXUQHLJKERUKRRG2QO\WKUHHKRPHVDUHFXUUHQWO\IRUVDOHDQGWKHIRXUWKDWVROGVLQFHWKHEHJLQQLQJRIWKH\HDUWRRNORQJHUWRVHOOZLWKKLJKEX\HUH[SHFWDWLRQVIRUWKHPRQH\WKH\VSHQW

*URZWKLQWKHFRQGRPDUNHWLVVWURQJDVDPRUHDIIRUGDEOHRSWLRQWKDQVLQJOH-IDPLO\KRPHV6WLOOWKHUHLVKLJKGHPDQGIRUDOOOHYHOVRIKRXVLQJ7KLVFRPELQHGZLWKRXUVWURQJVWDWHJURZWKRXWORRNFRQWLQXHGORZLQWHUHVWUDWHVDQG/RV$QJHOHV¶FOLPDWHPDNHKRPHSULFHIRUHFDVWVVWURQJRYHUWKHQH[WIHZ\HDUV

Page 3: RQV - RCPOA 7-2019.pdf · RQV - RCPOA ... z

WĂŐĞϯ ZWKEĞŝŐŚďŽƌŚŽŽĚEĞǁƐ

0\QDPHLV%HWK9ROSHDQG,DPKRQRUHGWRVHUYHDV3UHVLGHQWRIWKH5R\DO&DQ\RQ3URSHUW\2ZQHUV$VVRFLDWLRQ5&32$0\KXVEDQG-RHDQG,PRYHGLQWRRXUKRPHRQ/DV)ORUHV'ULYHLQ:HFDPHIURP5RVVPR\QHDIWHU\HDUV$ERXWDPLQXWHGULYHDZD\:HKDYHPDGHPDQ\ZRQGHUIXOIULHQGVVLQFHZHPRYHGKHUH:HIHHOWKDWZHFRXOGQRWKDYHIRXQGDEHWWHUSODFHWRFDOOKRPH

,QWKH\HDUVZHOLYHGLQ5RVVPR\QHZHQHYHUNQHZRXUQHLJKERUVQRUGLGZHNQRZWKDWWKHUHZDVDKRPHRZQHUVDVVRFLDWLRQWRMRLQ:HZHUHQ¶WFRQWDFWHGQRUGLGZHLQTXLUH:HMXVWGLGQ¶WNQRZDQ\EHWWHU:KHQZHPRYHGWRRXUKRPHRQ/DV)ORUHV'ULYHZHUHFHLYHGDQDSSOLFDWLRQWRMRLQ5&32$

7KHDSSOLFDWLRQDVNHGDERXWP\LQWHUHVWVDQG,SXWGRZQFRRNLQJ)URPWKHUHVWDUWHGWKHILUVWFRRNLQJ,QWHUHVW*URXS6LQFHWKHQDQRWKHUKDVIRUPHG/LWWOHGLG,NQRZWKDWFKHFNLQJWKHER[RQWKHDSSOLFDWLRQZRXOGEHWKHEHJLQQLQJRIZKDWKDVEHHQDQDPD]LQJMRXUQH\RIPHHWLQJQHLJKERUVZKRKDYHQRZEHFRPHYHU\GHDUIULHQGV(YHQWXDOO\,VWDUWHGUXQQLQJ1DWLRQDO1LJKW2XWIRUWKHSDVW\HDUVDQGVHUYLQJRQRXUERDUGIRU\HDUV:HHPEUDFHGWKHFRPPXQLW\DQGZHUHHPEUDFHGULJKWEDFN

+DSS\WK$QQLYHUVDU\5&32$,W¶VKDUGWREHOLHYHWKDWIRUWKHSDVW\HDUVWKHUHKDYHEHHQQHLJKERUKRRGYROXQWHHUVGHGLFDWLQJWKHLUWLPHHQHUJ\DQGUHVRXUFHVWRFRQWLQXDOO\LPSURYH

WKHTXDOLW\RIOLIHZKHUHZHOLYHDQGPDNH5R\DO&DQ\RQ*UHHQEULDUDSURXGFRPPXQLW\—DSODFHZKHUHQHLJKERUVFDUHIRUDQGORRNRXWIRURQHDQRWKHU

,ZDQWWRSHUVRQDOO\WKDQNHDFKDQGHYHU\PHPEHURIRXUDVVRFLDWLRQIRU\RXUGRQDWLRQ7KDWGRQDWLRQKRZHYHUODUJHRUVPDOOKHOSVXVWRSURGXFHRXUQHZVOHWWHUVDQGIXQGVRFLDODQGFLYLFHYHQWVVXFKDVD1DWLRQDO1LJK2XWHYHQWLQ$XJXVWDQGRXU$QQXDO0HPEHU0HHWLQJLQ)HEUXDU\ZKHUHZHZLOORQFHDJDLQKRVWWKH&LW\&RXQFLO&DQGLGDWHV)RUXP

7KHUHDUHVRPDQ\UHDVRQVWRMRLQ5&32$)LUVWDQGPRVWLPSRUWDQWO\DVHQVHRIFRPPXQLW\

6HFRQGO\LW¶VDZD\WRJHWLQYROYHGDWZKDWHYHUOHYHO\RXZDQW6RPHIRONVMRLQWRVXSSRUWWKHDVVRFLDWLRQZLWKRXWJHWWLQJLQYROYHG2WKHUVMRLQVRWKDWWKH\FDQSDUWLFLSDWHLQRXU,QWHUHVW*URXSVRUVHUYHRQ&RPPLWWHHVRUHYHQWKH%RDUG6RPHMXVWZDQWWRKHOSZKHUHKHOSLVQHHGHGIRUHYHQWV7KHUHLVQREHWWHUZD\WRPHHW\RXUQHLJKERUVDQGEHFRPHDSDUWRIVRPHWKLQJYHU\VSHFLDOWKDQJHWWLQJLQYROYHGLQD&RP

PLWWHHRU,QWHUHVW*URXS

,KDYHDORWRIJRDOVIRUP\WLPHDV3UHVLGHQW$QG,QHHGKHOS2XU%RDUGLVFORVHWRDGRSWLQJD3ODQRI$FWLRQ:HDUHIRUPLQJD&RPPXQLFDWLRQV0DUNHWLQJ&RPPLWWHHWRDGGUHVVRXUZHEVLWHVRFLDOPHGLDDQGKRZZHFRPPXQLFDWHZLWKQHLJKERUV

:HKDYHIRUPHGD1HZ0HPEHUVKLS&RPPLWWHHDQGZLOOEHZRUNLQJRQD1HZ1HLJKERU:HOFRPH3DFNHWDQGRWKHUZD\VWREULQJLQQHZPHPEHUVDQGUHWDLQFXUUHQWPHPEHUV

,ZRXOGOLNHWRHQFRXUDJHQHLJKERUVWRFRQWDFWPHZLWKDQ\FRQFHUQVRUTXHVWLRQV\RXPD\KDYHLQFOXGLQJDQ\/HWWHUVWRWKH(GLWRURU3UHVLGHQWWKDW\RX¶GOLNHLQFOXGHGLQWKHQH[WQHZVOHWWHU,FDQEHUHDFKHGDWEHWKYROSH#JPDLOFRPRU\RXPD\FRQWDFWPHDW--

/DVWO\,ZRXOGOLNHWRWKDQNDQGFRPPHQGRXU%RDUGRI'LUHFWRUVIRUDOOWKH\GR%HLQJDPHPEHURIWKH%RDUGLVDYROXQWDU\SRVLWLRQ+DYLQJWKHRSSRUWXQLW\WRVHUYHWKHFRPPXQLW\\RXOLYHLQFDQEHDVDWLVI\LQJHQGHDYRUDQGWKH%RDUGDSSURDFKHVWKHLUVHUYLFHZLWKSDVVLRQDQGDVHQVHRIGRLQJZKDWWKH\IHHOLVLQWKHEHVWLQWHUHVWRIDOOQHLJKERUV

2XUFRPPRQJRDOLVWRPDNH5R\DO&DQ\RQ*UHHQEULDUDVDIHIULHQGO\DQGZRQGHUIXOSODFHWROLYH

%HWK9ROSH

³/LWWOHGLG,NQRZWKDWFKHFNLQJWKHER[RQWKHDSSOLFDWLRQZRXOGEHWKHEHJLQQLQJRIZKDWKDVEHHQDQ

DPD]LQJMRXUQH\«´

President’s Message

³,ZRXOGOLNHWRHQFRXUDJHQHLJKERUVWRFRQWDFWPHZLWKDQ\FRQFHUQVRUTXHVWLRQV\RXPD\

KDYHLQFOXGLQJDQ\/HWWHUVWRWKH(GLWRURU3UHVLGHQWWKDW\RX¶GOLNHLQFOXGHGLQWKHQH[WQHZVOHWWHU´

Page 4: RQV - RCPOA 7-2019.pdf · RQV - RCPOA ... z

ZWKEĞŝŐŚďŽƌŚŽŽĚEĞǁƐ WĂŐĞϰ

/DWHVW7LSVIURP*OHQGDOH3ROLFHWR3UHYHQW5HVLGHQWLDO%UHDN-,QV %\$UPLQH3HULDQ1HLJKERUKRRG6HFXULW\&RPPLWWHH&KDLU

2Q0D\UHVLGHQWVDWWHQGHGDQLQIRUPDWLYHPHHWLQJZLWKWKH*OHQGDOH3ROLFH'HSDUWPHQWVSRQVRUHGE\WKH5&32$1HLJKERUKRRG6HFXULW\&RPPLWWHH

.H\3RLQWV6KDUHGE\

2IILFHU9DURRM.DULE\DQ

· $//RIWKH5&32$EXUJODUL]HGUHVLGHQFHVVLQFH-DQXDU\KDYH/$&.('6859(,//$1&(25&$0(5$6

· %XUJODUVGRQRWZDQWWKHLUIDFHVFDSWXUHGRQFDPHUDVZKLFKSURYLGHSROLFHKXJHOHDGVLQLGHQWLILFDWLRQDQGSUHYHQWLRQRIIXWXUHLQFLGHQFHV

· %XUJODUVDUHQRWFRQFHUQHGZLWKVHFXULW\V\VWHPVNQRZLQJWKDWWKH\KDYHHQRXJKWLPHWRJUDEZKDWWKH\FDQEHIRUHWKHDUULYDORISROLFH

5HVLGHQWVQHHGWREHYLJLODQW

³6HHVRPHWKLQJVD\VRPHWKLQJ´

· 7KHUHKDYHEHHQEXUJODULHVLQ*OHQGDOHVLQFHWKHVWDUWRI

· EXUJODULHVZHUHLQWKH5&32$5RVVPR\QHQHLJKERUKRRGV

· 3HDNKRXUVRIEXUJODULHVDUH

SP–SPZLWKKLJKHVWLQFLGHQFHVRQ0RQGD\VIRU5&32$)ULGD\VLVVHFRQG

%XUJODU\'HWHUUHQWV

· &DUVRQWKHGULYHZD\ · 79RQ · 7ULPPHGODQGVFDSLQJEXUJODUV

OLNHWKLFNODQGVFDSLQJWRKLGHDQGQRWEHVHHQE\QHLJKERUV

· 3ODQWWKRUQ\EXVKHVLQIURQWRIZLQGRZVWR³KDUGHQWKHWDUJHW´

· ,QFOXGHJODVVEUHDNVHQVRUVLQ\RXUDODUPV\VWHPV

· +LGH\RXUODGGHUV,QDOOFDVHVRIVHFRQGVWRU\EUHDN-LQVEXUJODUVXVHGKRPHRZQHUV¶ODGGHUVOHIWRQWKHSURSHUW\

· ([WHQG\RXUDODUPV\VWHPWRFRYHUWKHVHFRQGVWRU\

· 'RQ¶WOHDYHYDOXDEOHVDURXQGLQSODLQVLJKW

· &URRNVJRVWUDLJKWWRWKHPDVWHUEHGURRPIRUFDVKDQGMHZHOU\

· &URRNVDUHQRWLQWHUHVWHGLQODSWRSVDQGWDEOHWVDVWKHVHGHYLFHVFDQEHWUDFHG

· ,QVWDOOVPDUWOLJKWVRQWLPHUV8VHPRWLRQ-DFWLYDWHGOLJKWV.HHSSRUFKOLJKWVRQ

· (QVXUHVXUYHLOODQFHFDPHUDVDUHSURSHUO\IXQFWLRQLQJDQGSRVLWLRQHGZLWKQLJKWYLVLRQ0DNHVXUHWRWHVWWKHP

· ,QVWDOO287'225VLUHQVDQGORFDWHWKHPDSSURSULDWHO\'LVFXVVDQDFWLRQSODQZLWK\RXUQHLJKERUV

· 5HDO-WLPHPRQLWRULQJV\VWHPVVXFKDV1(67DQG5LQJDUHDWUHPHQGRXVKHOSWRSROLFH,IDSURSHUW\RZQHUFDOOV*3'DVDEUHDN-LQLVRFFXUULQJWKH\ZLOO

GLVSDWFKDXQLWLPPHGLDWHO\

0LVFHOODQHRXV,QIRUPDWLRQ · :KLOH5,1*LVDJRRGGHYLFHLW

RQO\FRYHUVWKHIURQWHQWU\0RVWEUHDN-LQVDUHIURPWKHEDFN\DUG

· &URRNVSHHNWKURXJKJDUDJHGRRUZLQGRZVWRVHHLIWKHUHDUHFDUVLQVLGH&RQVLGHUEORFNLQJWKLVYLHZ

· &URRNVFDQQRWEHW\SHFDVWDVWKH\FRPHIURPDOOUDFHVHWKQLFLWLHVDJHVDQGJHQGHUV

$GYLFHIURP3ROLFH&DOO*3'LI³6XVSLFLRXV3HUVRQV'RQ¶W/RRN

/LNH7KH\%HORQJLQWKH 1HLJKERUKRRG´

· &URRNVZLOOOHDYHLIWKH\VHHD

SROLFHFDUGULYLQJDURXQG

· %HFDXVHRIPRUHOHQLHQWODZVSURIHVVLRQDOFURRNVDUHQRZUHFUXLWLQJPLQRUVWKDWLIFRQYLFWHGVHUYHFRQVLGHUDEO\OHVVWLPH

6SHFLDO7KDQNVWR*3'

6HUJHDQW3DWULFN0DJWRWR 2IILFHU9DURRM.DULE\DQ 2IILFHU0DWW=DNDULDQ -RQ%DOHV–9ROXQWHHU .UHVWLQD7RURVLDQ-$GPLQLVWUDWLYH

KĸĐĞƌsĂƌŽŽũ<ĂƌŝďLJĂŶ

Page 5: RQV - RCPOA 7-2019.pdf · RQV - RCPOA ... z

WĂŐĞϱ ZWKEĞŝŐŚďŽƌŚŽŽĚEĞǁƐ

Page 6: RQV - RCPOA 7-2019.pdf · RQV - RCPOA ... z

ZWKEĞŝŐŚďŽƌŚŽŽĚEĞǁƐ WĂŐĞϲ

$QQXDO0HPEHU0HHWLQJ5HFDS %\&KHU\O)UHHV-<YHJD

2QHRIP\ODVWGXWLHVDV5&32$3UHVLGHQWZDVWRSUHVLGHRYHUWKH$QQXDO0HPEHU0HHWLQJRQ)HEUXDU\QGZKHUHZHXVKHUHGLQRXUWK\HDU,WZDVKHOGDWWKHQHZO\UHQRYDWHG&KHY\&KDVH&RXQWU\&OXEZKHUHZHKDGD³%DFNWRWKH)XWXUH´WKHPHLQZKLFKZHVKRZFDVHGDUWLIDFWVIURPWKH5&32$DUFKLYHVVXFKDVROGQHZVOHWWHUVPHHWLQJPLQXWHVDQGHYHQWIO\HUV :HDFNQRZOHGJHGWKH5&32$SDVWSUHVLGHQWV0DU\$QQ3UHORFN'DQ&DEUHUDZKRVHUYHGWHUPV-RKQ:ROIIDQG/HDQQH5H\QROGV5LFKDUG/HHZDVSUHVHQWHGZLWKD\HDUVHUYLFHDZDUG

5&32$PHPEHUVYRWHGLQWKHQH[WWHUPRI'LUHFWRUVDQGGXULQJWKH³6WDWHRIWKH8QLRQ´DGGUHVV,WDONHG

DERXWWKHSDVW\HDUVDQGKRZWKH5&32$KDGUHRFFXUULQJWKHPHV'HYHORSPHQW1HLJKERUKRRG

6HFXULW\1HLJKERUKRRG,PSURYHPHQWDQG6RFLDO(YHQWV ,QDQXWVKHOO'HYHORSPHQWLQDQGDURXQGRXUQHLJKERUKRRGLVZKDWVWDUWHGWKH5&32$1HLJKERUKRRG6HFXULW\KDVDOZD\VEHHQDQLVVXHIRUXVZLWKQHLJKERUKRRGZDWFKJURXSVEHLQJIRUPHGDQGH[SDQGHGDQGQRZZHKDYHD1HLJKERUKRRG6HFXULW\&RPPLWWHH1HLJKERUKRRG,PSURYHPHQWFRYHUHGTXLWHDELWWKURXJKWKHODVW\HDUVIURPVWRSVLJQVSRVWHGRQ5R\DO%OYGIDGHGVWUHHWVLJQVEHLQJUHSODFHGSHUPLWWHGSDUNLQJWRKHOSHDVHFROOHJHSDUNLQJLQRXUQHLJKERUKRRGWRWKHSODQWLQJRIQHZSDOPWUHHVRQ5R\DO%OYGLQ$QGILQDOO\RXUQHLJKERUKRRGLVYHU\VRFLDODVZH¶YHKDGDQ$QQXDO6XPPHU6RFLDOJRLQJEDFNWRWKHHDUO\¶VKDYHKDGDIDPLO\SLFQLFIRU\HDUVKDYHPDQ\LQWHUHVWJURXSVDQGDUH

DERXWWRFHOHEUDWHRXUWK1DWLRQDO1LJKWRXW :HURXQGHGRXWWKHPHHWLQJZLWKSDVW*OHQGDOH+LVWRULFDO6RFLHW\3UHVLGHQW*UHJ*UDPPHUJLYLQJDSUHVHQWDWLRQRQWKHIRUPDWLRQRIWKH5R\DO%OYG+LVWRULF'LVWULFWDQGILQDOO\%UDGOH\&DOYHUWWKH$VVLVWDQW'LUHFWRURI&RPPXQLW\'HYHORSPHQW–3ODQQLQJ'LYLVLRQIRUWKH&LW\RI*OHQGDOHEURXJKW

XV³%DFNWRWKH)XWXUH´E\JLYLQJDSUHVHQWDWLRQRQWKHIXWXUHRI*OHQGDOH

)URP/—5*UHJ*UDPPHU'DQ&DEUHUD3DXOD'LYLQH&KHU\O

)UHHV-<YHJD%UDGOH\&DOYHUW7RGG<YHJD/HDQQH5H\QROGV5LFKDUG/HH7LQD3DUVHJLDQ5LFKDUG%ODV

FR%HWK9ROSH

5LFKDUG/HHUHFHLYLQJKLV\HDUVHUYLFHDZDUG

5&32$0HPEHUVDWWKH$QQXDO0HPEHU0HHWLQJ

Page 7: RQV - RCPOA 7-2019.pdf · RQV - RCPOA ... z

WĂŐĞϳ ZWKEĞŝŐŚďŽƌŚŽŽĚEĞǁƐ

Page 8: RQV - RCPOA 7-2019.pdf · RQV - RCPOA ... z

ZWKEĞŝŐŚďŽƌŚŽŽĚEĞǁƐ WĂŐĞϴ

0HPEHUVKLS8SGDWH %\%HWK9ROSH

6LQFHRXU0HPEHUVKLS&RPPLWWHHKDVEHHQRQHSHUVRQ:HQG\0\HUVNQRFNLQJRQGRRUVWRYLVLWFXUUHQWDQGSURVSHFWLYHPHPEHUV:KLOHWKLVKDVEHHQHIIHFWLYHRQHSHUVRQFDQ¶WSRVVLEO\UHDFKKRPHV :LWKWKHLQFHSWLRQRIRXUQHZ3ODQRI$FWLRQWKH1HZ0HPEHUVKLS&RPPLWWHHZLOOEHFKDLUHGE\'LUHFWRU7LQD3DUVHJLDQZLWK:HQG\DQG%HWK9ROSHRQWKHFRPPLWWHHDVZHOO

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¶VSXUVXHWKHLUILQDQFLDOJRDOV

7LQD3DUVHJLDQ

5&32$ 1HLJKERUKRRG

0HPEHUVKLS&KDLU

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¶WKHVLWDWHWRFRQWDFWKHUGLUHFWO\DW-%XVLQHVVHVGRQDWLQJJLIWVRUFRXSRQVZLOOEHPHQWLRQHGLQRXUQHZVOHWWHU

Page 9: RQV - RCPOA 7-2019.pdf · RQV - RCPOA ... z

WĂŐĞϵ ZWKEĞŝŐŚďŽƌŚŽŽĚEĞǁƐ

5R\DO&DQ\RQ3URSHUW\2ZQHUV$VVRFLDWLRQ

0HPEHUVKLS$SSOLFDWLRQ

dŚĞZŽLJĂůĂŶLJŽŶWƌŽƉĞƌƚLJKǁŶĞƌƐƐƐŽĐŝĂƟŽŶ;ZWKͿŝƐĂŶŽƌŐĂŶŝnjĂƟŽŶŽĨLJŽƵƌŶĞŝŐŚďŽƌƐǁŚŽǀŽůƵŶƚĞĞƌƟŵĞƚŽŚĞůƉŝŵƉƌŽǀĞƚŚĞƋƵĂůŝƚLJŽĨůŝĨĞǁŚĞƌĞǁĞůŝǀĞtĞĐŽŶŶĞĐƚLJŽƵǁŝƚŚŶĞŝŐŚďŽƌƐŽƌŐĂŶŝnjĞĂŶĚŚŽƐƚƐŽĐŝĂůĂŶĚĐŝǀŝĐĞǀĞŶƚƐŵĞĞƚĞǀĞƌLJŽƚŚĞƌŵŽŶƚŚƚŽĚŝƐĐƵƐƐŝƐƐƵĞƐĂŶĚŝĚĞĂƐĂŶĚƉƵďůŝƐŚƌĞŐƵůĂƌŶĞǁƐůĞƩĞƌƐƚŽŬĞĞƉLJŽƵƵƉ-ƚŽ-ĚĂƚĞĂŶĚŝŶĨŽƌŵĞĚtĞŽƌŐĂŶŝnjĞEĂƟŽŶĂůEŝŐŚƚKƵƚEĞŝŐŚďŽƌŚŽŽĚ^ĞĐƵƌŝƚLJDĞĞƟŶŐƐŶŶƵĂůǀĞŶͲŝŶŐ^ƵŵŵĞƌ^ŽĐŝĂůƐŶŶƵĂůDĞŵďĞƌDĞĞƟŶŐƐǁŝƚŚĂďŝ-LJĞĂƌůLJŝƚLJŽƵŶĐŝůĂŶĚŝĚĂƚĞƐ&ŽƌƵŵĂŶĚ/ŶƚĞƌĞƐƚ'ƌŽƵƉƐdŚĞďĞƐƚǁĂLJƚŽƐƚĂLJŝŶĨŽƌŵĞĚŽĨĂůůZWKĞǀĞŶƚƐĂŶĚŚĂƉƉĞŶŝŶŐƐŝƐƚŽďĞĐŽŵĞĂŵĞŵďĞƌŽĨŽƵƌĂƐͲƐŽĐŝĂƟŽŶ

DĞŵďĞƌ/ŶĨŽƌŵĂƟŽŶ

&ŝƌƐƚΘ>ĂƐƚEĂŵĞƐŽĨĚƵůƚƐ>ŝǀŝŶŐŝŶ,ŽƵƐĞŚŽůĚ

^ƚƌĞĞƚĚĚƌĞƐƐ

WƌŝŵĂƌLJWŚŽŶĞEƵŵďĞƌ WƌŝŵĂƌLJŵĂŝůĚĚƌĞƐƐ

ŚŝůĚƌĞŶ>ŝǀŝŶŐĂƚ,ŽŵĞĂŶĚŐĞƐ;ŽƉƟŽŶĂůͿ

ƌĞĂƐŽĨdžƉĞƌƟƐĞ tŚĞŶĚŝĚLJŽƵŵŽǀĞƚŽŽƵƌŶĞŝŐŚďŽƌŚŽŽĚ

/ĐĂŶŚĞůƉŝŶƚŚĞĨŽůůŽǁŝŶŐĂƌĞĂƐ;ŽƉƟŽŶĂůͿ

o tĞďƐŝƚĞĞǀĞůŽƉŵĞŶƚŽƌDĂŝŶƚĂŝŶtĞďƐŝƚĞ

o ůĞĐƚƌŽŶŝĐWƌŝŶƚĂŶĚsŝƐƵĂůŽŵŵƵŶŝĐĂƟŽŶƐ ;/ŶǀŝƚĂƟŽŶƐ&ůLJĞƌƐŵĂŝůůĂƐƚƐͿ

o ^ŽĐŝĂůDĞĚŝĂ

;&ĂĐĞŬ/ŶƐƚĂŐƌĂŵEĞdžƚĚŽŽƌĐŽŵͿ

o WŚŽƚŽŐƌĂƉŚĞƌĨŽƌǀĞŶƚƐ

o ĚǀĞƌƟƐŝŶŐ^ĂůĞƐ;EĞǁƐůĞƩĞƌͿ

o EĞǁEĞŝŐŚďŽƌtĞůĐŽŵĞWĂĐŬĞƚƐ

o ŶŶƵĂůDĞŵďĞƌƐŚŝƉƌŝǀĞ

o ĚƵĐĂƟŽŶĂůWƌŽŐƌĂŵƐ

o ǀĞŶƚWůĂŶŶŝŶŐĂŶĚ^ƵƉƉŽƌƚ

o EĞŝŐŚďŽƌŚŽŽĚ^ĞĐƵƌŝƚLJŽŵŵŝƩĞĞ

/ǁŽƵůĚůŝŬĞŵŽƌĞŝŶĨŽƌŵĂƟŽŶĂďŽƵƚƚŚĞĨŽůůŽǁŝŶŐ/ŶƚĞƌĞƐƚ'ƌŽƵƉƐ

o ŽŽŬŝŶŐ'ƌŽƵƉ

o ŽŽŬŝƐĐƵƐƐŝŽŶ'ƌŽƵƉ

o 'ĂƌĚĞŶŝŶŐ'ƌŽƵƉ

o ,ŝŬŝŶŐ'ƌŽƵƉ

o WĂƌĞŶƚƐ'ƌŽƵƉ

o KƚŚĞƌ;ĞdžƉůĂŝŶͿ

WůĞĂƐĞĐŽŵƉůĞƚĞƚŚŝƐĂƉƉůŝĐĂƟŽŶĂŶĚƐĞŶĚŝƚĂůŽŶŐǁŝƚŚLJŽƵƌĂŶŶƵĂůĚƵĞƐŽĨΨϮϬ;ƉĂLJĂďůĞƚŽZWKͿƚŽ

WKŽdžϵϬϴϮ'ůĞŶĚĂůĞϵϭϮϮϲ-ϬϬϴϮKƌLJŽƵŵĂLJĂƉƉůLJĂŶĚƉĂLJĚƵĞƐŽŶůŝŶĞĂƚƌĐƉŽĂŶĞƚƐƚŽƌĞ

Page 10: RQV - RCPOA 7-2019.pdf · RQV - RCPOA ... z

ZWKEĞŝŐŚďŽƌŚŽŽĚEĞǁƐ WĂŐĞϭϬ

6SRWOLJKWRQ:HQG\0\HUV %\&KHU\O)UHHV-<YHJD

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¶VSKRWRLQRXUQHZVOHWWHUVR\RXZRXOGUHFRJQL]HKHULIVKHFDPHNQRFNLQJRQ\RXUGRRU :KHQZHKDYHDQHZQHLJKERUWKH\RIWHQPHHW:HQG\ILUVW:HQG\WKHQFRRUGLQDWHVZLWKRXU7UHDVXUHUDQG6HFUHWDU\IRUPHPEHUVKLSGXHVDQGUHFRUGNHHSLQJ:HQG\DORQJZLWKRXU7UHDVXUHUDQG6HFUHWDU\DOVRZRUNWRJHWKHUIRURXUHYHQWVE\WUDFNLQJDWWHQGHHV<RXFDQILQG:HQG\JUHHWLQJSHRSOHDWSUDFWLFDOO\HYHU\5&32$HYHQWZLWKDVPLOHRQKHUIDFHDVVKH¶VDOZD\VKDSS\WRVHHWKHSHRSOHVKH¶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

:HQG\0\HUV

5&32$9LFH3UHVLGHQW

ZWKƐ/ƚĂůŝĂŶZĞŶĂŝƐƐĂŶĐĞŝŶŶĞƌWĂƌƚLJΘ^ƵŵŵĞƌ^ŽĐŝĂů zĞƐ/;ǁĞͿǁŽƵůĚůŝŬĞƚŽĂƩĞŶĚƚŚĞZWKƐŝŶŶĞƌWĂƌƚLJΘ^ƵŵŵĞƌ^ŽĐŝĂů

EĂŵĞ;ƐͿͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ

ĚĚƌĞƐƐͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ

ŶĐůŽƐĞƚŚŝƐĨŽƌŵΘĐŚĞĐŬĨŽƌEŽŽĨƉĞŽƉůĞdžΨϱϬсͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ

ĞůĞďƌĂƟŶŐϱϬLJĞĂƌƐ>ŝŵŝƚĞĚƚŽZWKŵĞŵďĞƌƐĂŶĚƚŚĞŝƌŐƵĞƐƚƐ

EŽƚĂŵĞŵďĞƌ:ŽŝŶŶŽǁĨŽƌΨϮϬƉĞƌŚŽƵƐĞŚŽůĚƉĞƌLJĞĂƌďLJĮůůŝŶŐŽƵƚƚŚĞ ŵĞŵďĞƌƐŚŝƉĨŽƌŵŽŶƉĂŐĞϵŽĨƚŚŝƐŶĞǁƐůĞƩĞƌ

WůĞĂƐĞƌĞƚƵƌŶƚŚŝƐĨŽƌŵĂŶĚLJŽƵƌĐŚĞĐŬďLJtĞĚŶĞƐĚĂLJƵŐƵƐƚϮϴƚŚƚŽ WKŽdžϵϬϴϮ'ůĞŶĚĂůĞϵϭϮϮϲ-ϬϬϴϮŽƌƐŝŐŶƵƉŽŶůŝŶĞĂƚƌĐƉŽĂŶĞƚ^ĞůĞĐƚDĞŵďĞƌƐŚŝƉΘǀĞŶƚƐŵĞŶƵ

YƵĞƐƟŽŶƐĂůůLJƌŽŶ,ŝďĚŽŶĂƚϲϮϲ-ϱϵϬ-ϮϵϮϯ

^ĞĞǀĞŶƚ&ůLJĞƌŽŶƉĂŐĞϳĨŽƌŵŽƌĞĚĞƚĂŝůƐ

Page 11: RQV - RCPOA 7-2019.pdf · RQV - RCPOA ... z

WĂŐĞϭϭ ZWKEĞŝŐŚďŽƌŚŽŽĚEĞǁƐ

5&32$2IILFHUV %HWK9ROSH 3UHVLGHQW 5&32$3UHVLGHQW#UFSRDQHW EHWKYROSH#JPDLOFRP -- :HQG\0\HUV 9LFH3UHVLGHQW 1RPLQDWLQJ&RPPLWWHH&KDLU ZHQG\P\HUV#UFSRDQHW 7RGG<YHJD 6HFUHWDU\ :HEPDVWHU WRGG\YHJD#UFSRDQHW 5LFKDUG/HH 7UHDVXUHU *OHQGDOH+RPHRZQHUV&RRUGLQDWLQJ&RXQFLO5HSUHVHQWDWLYH 5&32$7UHDVXUHU#UFSRDQHW

5&32$'LUHFWRUV

5LFKDUG%ODVFR $VVLVWDQW1HZVOHWWHU(GLWRU ULFKDUGEODVFR#UFSRDQHW &KHU\O)UHHV-<YHJD 1HZVOHWWHU(GLWRU FKHU\OIUHHV#UFSRDQHW $UPLQH*+DFRSLDQ *OHQGDOH&RPPXQLW\&ROOHJH5HSUHVHQWDWLYH KDFRSLDQ#UFSRDQHW %\URQ+LEGRQ 6RFLDO&RPPLWWHH &KDLU E\URQKLEGRQ#UFSRDQHW %UDG1HOVRQ (GXFDWLRQ&RPPLWWHH&KDLU EUDGQHOVRQ#UFSRDQHW 7LQD3DUVHJLDQ 0HPEHUVKLS&RPPLWWHH&KDLU WLQDSDUVHJLDQ#UFSRDQHW $UPLQH3HULDQ 1HLJKERUKRRG6HFXULW\&RPPLWWHH&KDLU 1DWLRQDO1LJKW2XW&KDLU DUPLQHSHULDQ#UFSRDQHW /HDQQH5H\QROGV 'LUHFWRUDW/DUJH 5&32$6RFLDO#UFSRDQHW -RKQ5:ROII 'LUHFWRUDW/DUJH MRKQUZROII#UFSRDQHW

92/817((561HHGHG

7KH5&32$LVORRNLQJIRU9ROXQWHHUV+DYHDOLWWOHIUHHWLPHRQ\RXUKDQGV":DQWWRPHHWPRUHQHLJKERUVDQGIULHQGV":HKDYHDYDULHW\RIYROXQWHHURSSRUWXQLWLHVZKHWKHU\RXZDQWWRYROXQWHHUIRUDVKRUWWLPHZLWKORZFRPPLWPHQWDOOWKHZD\XSWRPHHWLQJPRQWKO\ZLWKWKH1HLJKERUKRRG6HFXULW\&RPPLWWHH

/HWXVNQRZLI\RXFDQKHOSLQDQ\RIWKHIROORZLQJDUHDVE\ILOOLQJRXWWKHPHPEHUVKLSIRUPLQWKLVQHZVOHWWHURUE\FRQWDFWLQJ%HWK9ROSHGLUHFWDWEHWKYROSH#JPDLOFRPRU--

Þ :HEVLWH'HYHORSPHQWRU0DLQWDLQ:HEVLWH

Þ (OHFWURQLF3ULQWDQG9LVXDO&RPPXQLFDWLRQV,QYLWDWLRQV)O\HUV(PDLO%ODVWV

Þ 6RFLDO0HGLD)DFHERRN,QVWDJUDP1H[WGRRUFRP

Þ 3KRWRJUDSKHUIRU(YHQWV Þ $GYHUWLVLQJ6DOHV1HZVOHWWHU Þ 1HZ1HLJKERU:HOFRPH3DFNHW Þ $QQXDO0HPEHUVKLS'ULYH Þ (GXFDWLRQDO3URJUDPV Þ (YHQW3ODQQLQJDQG6XSSRUW Þ 1HLJKERUKRRG6HFXULW\&RPPLWWHH

1HZ3DUHQWV¶*URXS 7KH5&32$LVORRNLQJIRUVRPHRQHLQWHUHVWHGLQ&KDLULQJD3DUHQWV¶*URXSIRUIDPLOLHVZLWK\RXQJFKLOGUHQ7KLVJURXSZLOOVFKHGXOHSOD\GDWHVH[FKDQJHWLSVDQGUHVRXUFHVHWF ,ILQWHUHVWHGSOHDVHHPDLO EHWKYROSH#JPDLOFRP

+DYHDTXHVWLRQLGHDRURSLQLRQ"6HQGD/HWWHUWRWKH(GLWRU

*XLGHOLQHV /HWWHUVPXVWEHRULJLQDODQGVKRXOGQRWH[FHHGZRUGV/HWWHUVPXVWLQFOXGHWKHZULWHUVILUVWDQGODVWQDPHDYHULILDEOHKRPHVWUHHWDGGUHVVDQGGD\HYHQLQJWHOHSKRQHQXPEHUVIRUYHULILFDWLRQSXUSRVHV-VWUHHWDGGUHVVHVDQGSKRQHQXPEHUVZLOOQRWEHSXEOLVKHG:HSXEOLVKRQO\\RXUQDPHDQGVWUHHW<RXPD\VXEPLW/HWWHUVWRWKH(GLWRUYLDH-PDLOWR EHWKYROSH#JPDLOFRP

Page 12: RQV - RCPOA 7-2019.pdf · RQV - RCPOA ... z

ZWKEĞŝŐŚďŽƌŚŽŽĚEĞǁƐ WĂŐĞϭϮ

$8QLTXH)HDWXUHRIRXU1HLJKERUKRRG$VVRFLDWLRQ %\6WHSKDQLH6FKXV

$JUHDWZD\WRJHWWRNQRZPRUHRI\RXUQHLJKERUV–HVSHFLDOO\WKRVHZKRVKDUHVRPHRI\RXURZQLQWHUHVWV–LVWRSDUWLFLSDWHLQRQHRI5&32$¶V,QWHUHVW*URXSV:HFXUUHQWO\KDYHDFWLYHJURXSVSOXVRQHEHLQJUH-RUJDQL]HG:H¶GEHKDSS\WRDGGPRUH&RQWDFW6WHSKDQLH6FKXVVVFKXV#DROFRPZLWKUHTXHVWVWRSDUWLFLSDWHDQGRUWROHWKHUNQRZ\RXZDQWWRKHOSVWDUWDQRWKHUJURXS

2XU*DUGHQLQJ*URXSQRZLQLWVWK\HDUKHOGDYDULHW\RISURJUDPVWKLV\HDUDYLVLWWRDPHPEHU¶VJDUGHQWRRIIHUVXJJHVWLRQVIRUFKDQJHVDQLOOXVWUDWHGWDONDERXW6RXWK$IULFDQSODQWVFRPSDWLEOHZLWKRXUFOLPDWHDSULYDWHWRXURIWKH6WRUULHU6WHDUQV-DSDQHVH*DUGHQDSULYDWHWRXURIWKH+XQWLQJWRQ¶V&\FDG*DUGHQZKLFKPHPEHUVKDYHEHHQIROORZLQJWKURXJKVOLGHOHFWXUHVVKRZLQJLWVSURJUHVVRYHUWKHSDVW\HDUV0D\EURXJKWWKHJURXSWRDQ(QJOLVKFRWWDJHVW\OHJDUGHQFUHDWHGZLWKGURXJKWWROHUDQWSODQWVZKHUHDODZQKDGRQFHEHHQDQGLWVPRVWUHFHQWHYHQWDQLQVWUXFWLYHGHPRQVWUDWLRQDW-DFNDORSH3RWWHU\IRUSODQWLQJDGHFRUDWLYHFRQWDLQHUZLWKDYDULHW\RIVXFFXOHQWV

7ZRFRRNLQJJURXSVFRQWLQXHWRHQMR\WKHPHGGLQQHUVHYHU\-ZHHNV

7KH*RXUPHW&RRNLQJ*URXSFUHDWHG³6W3DWULFN¶V'D\LQ0D\´DIWHUD0DUFKGDWHKDGWREHUHVFKHGXOHGZLWKWKHFKDOOHQJHWKDWHYHU\GLVKLQFOXGH*XLQQHVV,ULVKVWRXWDPRQJWKHLQJUHGLHQWV2QHPHPEHUWKRXJKWGHVVHUWZDVWKHPRVWFKDOOHQJLQJGLVKEXWWKHLU³GHVVHUWSHUVRQPDGHDGHOLFLRXVFKRFRODWHOD\HUFDNHXVLQJ*XLQQHVVDQGZLWKZKLSSHGFUHDPEHWZHHQWKHOD\HUV´ &RPLQJLQ-XO\LVD0H[LFDQWKHPHGGLQQHUWREHFRPSOHPHQWHGZLWK0DUJDULWDV

7KHPRUH,QIRUPDO&RRNLQJ*URXSZHOFRPHG6SULQJZLWKUHFLSHVRIWKHVHDVRQLQFOXGLQJDVRXSEDVHGRQDPHGOH\RIVSULQJYHJHWDEOHVDQGDGLQQHUWRSSHGRIIZLWKD%OXHEHUU\6RXU&UHDP7DUW-XO\¶VGLQQHUWKHPHZLOOEH6XPPHU5HPHPEUDQFHV

7KH%RRN'LVFXVVLRQ*URXSDOWHUQDWHVILFWLRQZLWKQRQ-ILFWLRQVHOHFWLRQV

7KH6S\DQGWKH7UDLWRU 7KH*UHDWHVW(VSLRQDJH6WRU\RIWKH&ROG:DU E\%HQ0DF,QW\UHSURYHGWREHDJULSSLQJUHDGOHVVVRZDVWKHDSWO\QDPHGQRYHO/HVVE\$QGUHZ6HDQ*UHHUWKHJURXS¶VWKERRN

*KHQJLV.KDQ7KH0DNLQJRIWKH0RGHUQ:RUOGE\-DFN:HDWKHUIRUGRIIHUHGDVXUSULVLQJKLVWRU\&XUUHQWUHDGLQJLV:KHUHWKH&UDZGDGV6LQJ E\'HOLD2ZHQV

2Q0DUFK7KH+LNLQJ*URXSKLNHGWKH'HVFDQVR7UDLODKLOO\PLOHORRSORFDWHGMXVWRXWVLGHWKH'HVFDQVR*DUGHQVWUHNNLQJLQWKHRSSRVLWHGLUHFWLRQIURPWKHODVWWLPHWKH\ZDONHGWKLV7KHLUQH[WKLNHZLOOEHDQQRXQFHGVKRUWO\

5&32$3UHVLGHQW%HWK9ROSHLVVSHDUKHDGLQJHIIRUWVWRUH-HQHUJL]HWKH3DUHQWV¶*URXSZLWKWKHJRDORIPDNLQJWKLVDPRUHDFWLYHJURXSWRKHOSSDUHQWVRUDXQWVXQFOHVDQGJUDQGSDUHQWVVFKHGXOHSOD\GDWHVH[FKDQJHWLSVDQGUHVRXUFHV&RQWDFW%HWKLI\RXDUHLQWHUHVWHGDWEHWKYROSH#UFSRDQHW

dŚĞ'ĂƌĚĞŶŝŶŐ'ƌŽƵƉ >ĞĂƌŶŝŶŐŚŽǁƚŽĐƌĞĂƚĞĂĚĞĐͲŽƌĂƟǀĞƉůĂŶƚĞƌǁŝƚŚƐƵĐĐƵůĞŶƚƐ

dŚĞ'ŽƵƌŵĞƚ'ƌŽƵƉ ĨƌŽŵ>-Z>LJŶ&ŽƐƚĞƌ:ŽĞsŽůƉĞ

>ŝŶĚLJDƵƌƉŚLJZŽƐƐWĞƌŝĂŶŶĚƌĞǁ^ŬŝůůĞŶƌŵŝŶĞWĞƌŝĂŶ<LJŵDƵƌͲƉŚLJĞƚŚsŽůƉĞ'ůĞŶŶtĞďďĂŶĚ

^ƵƐĂŶĂ^ŬŝůůĞŶ

dŚĞ,ŝŬŝŶŐ'ƌŽƵƉ &ƌŽŵ>-ZtĞŶĚLJDLJĞƌƐ

ƌŝĂŶZŽďďŝŶƐLJƌŽŶ,ŝďĚŽŶZĞŶĞDŽƌĞŶŽdŽĚĚzǀĞŐĂĂŶĚ^ƚĞƉŚĂŶŝĞ

^ĐŚƵƐ

Page 13: RQV - RCPOA 7-2019.pdf · RQV - RCPOA ... z

WĂŐĞϭϯ ZWKEĞŝŐŚďŽƌŚŽŽĚEĞǁƐ

In Memoriam -RHDQG-XQH+DVHQFDPSZHUHPDUULHGIRUPRUHWKDQ\HDUV

-RHZDVDQDUP\YHWHUDQDFURVVZRUGSX]]OHUDPDVWHURIEULGJHDGHYRWHGIULHQGKXVEDQGIDWKHUDQGJUDQGIDWKHUDWHOOHURIVWRULHVDQDWLYHDQGOLIHORQJ$QJHOLQRDVWDPSDQGFRLQFROOHFWRUDVHULRXV/$VSRUWVIDQDQGKLVIDPLO\¶VIDYRULWHSHUVRQLQWKHZRUOG-RHZDVWKH7UHDVXUHUIRUWKH5&32$\HDUVDJR+HOLNHGOHPRQGHVVHUWVDQGFDWVDQG'RGJHUJDPHVDQGYDFDWLRQVE\FDUDQGELJEDQGPXVLFDQGSHUKDSVPRVWRIDOODJRRGPDUWLQL&KHHUVWR\RX-RH\RXZLOOEHPLVVHG -RH+DVHQFDPS

³7KH/RYHERDW/DG\´ZDVERUQLQ/RV$QJHOHV+HUIDPLO\IOLSSHGKRXVHVWRPDNHHQGVPHHWDQGWKH\PRYHGWLPHVEHIRUHVKHJUDGXDWHGIURP*OHQGDOH+LJK6KHPDUULHG5XVVHOO3KLOOLSV6LGQH\2PDUUDQG$UWKXU$QGUHZV 6KHZDVDPRGHOORYHGWRGDQFHDQGEHFDPH0UV*OHQGDOHLQVKHMRLQHGWKH862GXULQJWKH9LHWQDP:DUZKHUHVKHUHDGWKHVROGLHU¶VSDOPVDQGDQDO\]HGWKHLUKDQGZULWLQJ -HUDOGLQHEHFDPHWKHFUXLVHVKLSLQGXVWU\¶VILUVWIHPDOH&UXLVH'LUHFWRU6KHZURWHDERXWKHUH[SHULHQFHVLQKHUERRN7KH/RYH%RDWVZKLFKZDVPDGHLQWRWKHSRSXODU79VHULHV7KH/RYH%RDW6KHSXEOLVKHGERRNVZURWHKHURZQGDLO\V\QGLFDWHGKRURVFRSHFROXPQZDVDOHFWXUHUDSKLODQWKURSLVWDQGDVDPRWLYDWLRQDOVSHDNHUVKHRIWHQWROGKHUDXGLHQFH³:HWHQGWRPRYHWRZDUGWKDWZKLFKZHGZHOOXSRQVROHWVGZHOOZHOO´

-HUDOGLQH6DXQGHUV

5&32$¶VWK$QQLYHUVDU\/RJR

<RXPD\KDYHQRWLFHGWKHQHZ5R\DO&DQ\RQ3URSHUW\2ZQHUV$VVRFLDWLRQWKDQQLYHUVDU\ORJR <RXU5&32$%RDUGKDVEHHQWDONLQJDERXWKRZWRPDNHRXUWK\HDUZKLFKLVH[WUDVSHFLDO7KDWLQFOXGHGFUHDWLQJDWKDQQLYHUVDU\ORJRWRNLFNRIIWKH1HZ<HDU0HPEHUVZKRDWWHQGHGWKH$QQXDO0HPEHU0HHWLQJLQ)HEUXDU\ZHUHJLYHQFRIIHHPXJVEUDQGHGZLWKWKHQHZORJR

:HKRSH\RXOLNHLWDVPXFKDVZHGR

Page 14: RQV - RCPOA 7-2019.pdf · RQV - RCPOA ... z

ZWKEĞŝŐŚďŽƌŚŽŽĚEĞǁƐ WĂŐĞϭϰ

3OHDVH6ORZ'RZQ 7KH\VD\DSLFWXUHLVZRUWKDWKRXVDQGZRUGVDQGZHWKLQNWKLVRQHVSHDNVIRULWVHOI

3OHDVHVORZGRZQZKLOHGULYLQJ

)RUWXQDWHO\QRRQHGLHGLQWKLVFROOLVLRQ

EORFNRI5R\DO%OYG0DUFK

7KH5&32$ZRXOGOLNHWRWKDQN

/($11(5(<12/'6 )RUVSRQVRULQJ

1DWLRQDO1LJKW2XW ,QDQG

Thank you Leanne!

:RXOG\RXOLNHWRDGYHUWLVHLQRXUQHZVOHWWHU"

&RQWDFW%HWK9ROSHDW

EHWKYROSH#JPDLOFRPRU5LFKDUG%ODVFRDWULFKDUGEODVFR#UFSRDQHWIRUPRUHLQIRUPDWLRQ

$GYHUWLVHLQRXU

1HZVOHWWHU

Page 15: RQV - RCPOA 7-2019.pdf · RQV - RCPOA ... z

WĂŐĞϭϱ ZWKEĞŝŐŚďŽƌŚŽŽĚEĞǁƐ

$VDZDUQLQJWRSURVSHFWLYHEXUJODUVWKDWRXUUHVLGHQWVDUHHQFRXUDJHGWRFRQWDFWSROLFHZKHQVXVSLFLRXVDFWLYLW\LVREVHUYHGWKH1HLJKERUKRRG6HFXULW\&RPPLWWHH16&KDVSODFHGVHYHUDOVLJQVDWNH\ORFDWLRQVWKURXJKRXWWKHQHLJKERUKRRG

7KH16&KRSHV\RXZLOOILQGWKHVHHIIRUWVDORQJZLWKWKHKRPHVHFXULW\WLSVRQWKH5&32$ZHEVLWHWREHXVHIXO*RWRKWWS5&32$QHWFOLFNRQWKH³1HLJKERUKRRG´7DEDQGFOLFNRQ1HLJKERUKRRG6HFXULW\

6RPHSHRSOHOHIWWKHLUFDULQWKHORQJ-WHUPSDUNLQJDWWKH6DQ-RVHDLUSRUWZKLOHDZD\DQGVRPHRQHEURNHLQWRWKHFDU 8VLQJWKHLQIRUPDWLRQRQWKHFDUVUHJLVWUDWLRQLQWKHJORYHFRPSDUWPHQWWKH\GURYHWKHFDUWRWKHSHRSOHV KRPHLQ3HEEOH%HDFKDQGUREEHGLW 6R,JXHVVLIZHDUHJRLQJWROHDYHWKHFDULQORQJ-WHUPSDUNLQJZHVKRXOG127OHDYHWKHUHJLVWUDWLRQ

LQVXUDQFHFDUGVLQLWQRU\RXUUHPRWHJDUDJHGRRURSHQHU7KLVJLYHVXVVRPHWKLQJWRWKLQNDERXWZLWKDOORXUQHZHOHFWURQLFWHFKQRORJ\

6RPHRQHKDGWKHLUFDUEURNHQLQWRZKLOHWKH\ZHUHDWDIRRWEDOOJDPH7KLQJVVWROHQIURPWKHFDULQFOXGHGDJDUDJHGRRUUHPRWHFRQWUROVRPHPRQH\DQGD*36ZKLFKKDGEHHQSURPLQHQWO\PRXQWHGRQ WKHGDVKERDUG:KHQWKHYLFWLPVJRWKRPHWKH\IRXQGWKDWWKHLUKRXVHKDGEHHQUDQVDFNHGDQGMXVWDERXW HYHU\WKLQJZRUWKDQ\WKLQJKDGEHHQVWROHQ7KHWKLHYHVKDGXVHGWKH*36WRJXLGHWKHPWRWKHKRXVH 7KH\ WKHQXVHGWKHJDUDJHUHPRWHFRQWUROWRRSHQWKHJDUDJHGRRUDQGJDLQHQWU\WRWKHKRXVH7KHWKLHYHVNQHZ WKHRZQHUVZHUHDWWKHIRRWEDOOJDPHWKH\NQHZZKDWWLPHWKHJDPHZDVVFKHGXOHGWRILQLVKDQGVRWKH\NQHZKRZPXFKWLPHWKH\KDGWRFOHDQRXWWKHKRXVH,WZRXOGDSSHDUWKDWWKH\KDGEURXJKWDWUXFNWRHPSW\ WKHKRXVHRILWVFRQWHQWV6RPHWKLQJWRFRQVLGHULI\RXKDYHD*36-GRQWSXW\RXUKRPHDGGUHVVLQLW 3XW DQHDUE\DGGUHVVOLNHDVWRUHRUJDVVWDWLRQVR\RXFDQVWLOOILQG\RXUZD\KRPHLI\RXQHHGWREXWQRRQH HOVHZRXOGNQRZZKHUH\RXOLYHLI\RXU*36ZHUHVWROHQ

,QHYHUWKRXJKWRIWKLV7KLVODG\KDVQRZFKDQJHGKHUKDELWRIKRZVKHOLVWVKHUQDPHVRQKHUFHOOSKRQH DIWHUKHUKDQGEDJZDVVWROHQ+HUKDQGEDJZKLFKFRQWDLQHGKHUFHOOSKRQHFUHGLWFDUGZDOOHWHWFZDV VWROHQ7ZHQW\PLQXWHVODWHUZKHQVKHFDOOHGKHUKXEE\IURPDSD\SKRQHWHOOLQJKLPZKDWKDGKDSSHQHGKXEE\VD\V,UHFHLYHG\RXUWH[WDVNLQJDERXWRXU3LQQXPEHUDQG,YHUHSOLHGDOLWWOHZKLOH

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

$ODG\ZHQWJURFHU\-VKRSSLQJDWDORFDOPDOODQGOHIWKHUSXUVHVLWWLQJLQWKHFKLOGUHQVVHDWRIWKHFDUWZKLOHVKH UHDFKHGIRUVRPHWKLQJRIIDVKHOI+HUZDOOHWZDVVWROHQDQGVKHUHSRUWHGLW WRWKHVWRUHSHUVRQQHO$IWHUUHWXUQLQJKRPHVKHUHFHLYHGDSKRQHFDOOIURPWKH0DOO6HFXULW\WRVD\WKDWWKH\ KDGKHUZDOOHWDQGWKDWDOWKRXJKWKHUHZDVQRPRQH\LQLWLWGLGVWLOOKROGKHUSHUVRQDOSDSHUV6KHLPPHGLDWHO\ ZHQWWRSLFNXSKHUZDOOHWRQO\WREHWROGE\0DOO6HFXULW\WKDWWKH\KDGQRWFDOOHGKHU%\WKHWLPHVKHUHWXUQHG KRPHDJDLQKHUKRXVHKDGEHHQEURNHQLQWRDQGEXUJODUL]HG7KHWKLHYHVNQHZWKDWE\FDOOLQJDQGVD\LQJWKH\ ZHUH0DOO6HFXULW\WKH\FRXOGOXUHKHURXWRIKHUKRXVHORQJHQRXJKIRUWKHPWREXUJODUL]HLW

:D\V7R3URWHFW<RXU,GHQWLW\ %\5LFKDUG(%ODVFR(VT6%1

1HLJKERUKRRG6LJQV

/21*-7(50 3$5.,1*

*36

&(//3+21(6

.((3$1(<(21<2853856(

Page 16: RQV - RCPOA 7-2019.pdf · RQV - RCPOA ... z

ZŽLJĂůĂŶLJŽŶWƌŽƉĞƌƚLJKǁŶĞƌƐƐƐŽĐŝĂƟŽŶ WKŽdžϵϬϴϮ 'ůĞŶĚĂůĞϵϭϮϮϲ-ϬϬϴϮ ƌĐƉŽĂŶĞƚ

3UHVRUWHG67' 863RVWDJH 3$,' &DQRJD3DUN&$ 3HUPLW

1DWLRQDO1LJKW2XW6XPPHU6RFLDO'DWHV 3J

5HDO(VWDWH6DOHV&KDUW$UWLFOH 3J

3UHVLGHQW¶V0HVVDJH 3J

/DWHVW7LSV)URP*3'WR3UHYHQW5HVLGHQWLDO%UHDN-,QV 3J

1DWLRQDO1LJKW2XW 3J

$QQXDO0HPEHU0HHWLQJ8SGDWH 3J

6XPPHU6RFLDO,WDOLDQ5HQDLVVDQFH'LQQHU3DUW\ 3J

0HPEHUVKLS8SGDWH 3J

0HPEHUVKLS$SSOLFDWLRQ 3J

6SRWOLJKWRQ:HQG\0\HUV_6XPPHU6RFLDO5693)RUP 3J

9ROXQWHHUV_/LVWRI5&32$2IILFHUV'LUHFWRUV 3J

&DOOIRU/HWWHUVWRWKH(GLWRU3DUHQW¶V*URXS 3J

,QWHUHVW*URXS8SGDWH 3J

,Q0HPRULDP_5&32$¶VWK$QQLYHUVDU\/RJR 3J

$GYHUWLVH:LWK8V_6ORZ'RZQ 3J

1HLJKERUKRRG6LJQV_:D\V7R3URWHFW<RXU,GHQWLW\ 3J

,QVLGHWKLVLVVXH