Page 1

12880 SW Cornett Loop Powell Butte, OR 97753

The attached document copies are furnished as accommodations by AmeriTitle. The company makes no representations as to effect, sufficiency, completeness or any other matters that might be referred to or implied therein. Should you have questions regarding impacts of said documents, you should consult independent counsel.


PARCEL DETAILS Parcel ID: 1514010000502 Related Tax Accounts: 785 Subdivision: Lot / Block:

GENERAL INFORMATION Taxpayer Mailing: GRIFFIN FAMILY TRUST 12880 SW CORNETT LOOP POWELL BUTTE, OR 97753

Location: County: CROOK, OREGON Map / Taxlot: 15140100 / 00502 Lat / Lon: 44.29335492 / -121.00423682 Situs Addresses:

Owners: (3) GRIFFIN FAMILY TRUST GRIFFIN SALLY L CO-TRUSTEE GRIFFIN WILLIS G CO-TRUSTEE

12880 SW CORNETT LOOP, POWELL BUTTE, 97753

ASSESSMENT SUMMARY Calculated Acres: Assessed Acres: RM Land: RM Impr: RM Total: Total AV: Taxes:

20.15 (877,873 sf) 20.09 (875,120 sf) $32,020 $409,470 $441,490 $333,208 $4,215

Zoning: EFU3 - COUNTY - Exclusive Farm Use

Land Use: 551 - EFU ZONED IMPROVED

Improvement Totals: SqFt: 3329 Bedrooms: 4

Full Baths: 2.0

Half Baths: 1

IMPROVEMENTS Code ATTGAR DWELL IRRIGATE MACHINE MACHINE MACHINE MACHINE MISC MISC MISC MISC MISC MISC SHEDGP SMALL

Description

SqFt

Year Built

RESIDENCE: Attached Garage RESIDENCE: Dwelling MISC: Irrigation MISC: Machine Shed MISC: Machine Shed MISC: Machine Shed MISC: Machine Shed MISC: Miscellaneous MISC: Miscellaneous MISC: Miscellaneous MISC: Miscellaneous MISC: Miscellaneous MISC: Miscellaneous MISC: General Purpose Shed FARM BLDG: Hobby Stable

624 3329 1 144 288 468 1440 1156 129 165 366 1129 432 900 816

1998 1998 0 0 0 0 2005 0 2000 2000 2000 2000 2009 0 2009

Beds Baths (F/H) Floor Types 4

2/1

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

RECENT TRANSACTIONS Date 05/24/2010 02/08/2010 01/08/2010 05/20/2005 05/17/2005

Ref # 240879 238998 238478 200015 199875

Prepared by AmeriTitle on: 05/16/2018 Data Updated: 03/07/2018

Type Price Seller BARGAIN & $0 BARGAIN & $0 BARGAIN & $0 BARGAIN & $0 WARRANTY $575,000 CULLIS, RICHARD A & Created for the original recipient only, not for further distribution Disclaimer: This report was created from digital databases provided by the Crook County GIS. AmeriTitle has provided this information as a courtesy and assumes no liability for errors, omissions, or accuracy of the data, and does not warranty the fitness of this product for any particular purpose.

Buyer

Copyright © 2018, All Rights Reserved Page 1


Crook County Property Summary Report Report Date: 5/16/2018 10:00:29 AM

Disclaimer The information and maps presented in this report are provided for your convenience. Every reasonable effort has been made to assure the accuracy of the data and associated maps. Crook County makes no warranty, representation or guarantee as to the content, sequence, accuracy, timeliness or completeness of any of the data provided herein. Crook County explicitly disclaims any representations and warranties, including, without limitation, the implied warranties of merchantability and fitness for a particular purpose. Crook County shall assume no liability for any errors, omissions, or inaccuracies in the information provided regardless of how caused. Crook County assumes no liability for any decisions made or actions taken or not taken by the user of this information or data furnished hereunder.

Account Summary Account Information Mailing Name:

Ownership Mailing Address:

GRIFFIN FAMILY TRUST

GRIFFIN FAMILY TRUST

Map and Taxlot: 15140100-00502-00785 Account:

785

12880 SW CORNETT LOOP

Tax Status:

Taxable 12880 SW CORNETT LOOP POWELL BUTTE, OR 97753

POWELL BUTTE, OR 97753

Situs Address:

Valuation Real Market Values as of Jan. 1,

Property Taxes Current Tax Year: 2017 Tax Code Area:

21

Assessment

$32,020

Structures

$409,470

Total

$441,490

Current Assessed Values:

Subdivision: Lot:

Land

0

Block: 0 Assessor Acres: 20.09 Property Class: 551

Maximum Assessed

$320,598

Assessed Value

$333,208

Veterans Exemption

$0.00

Warnings, Notations, and Special Assessments Assessor's Office Notations Code

Description

DEFD

Remarks ATL

Valuation History All values are as of January 1 of each year. Real Market Value - Land Real Market Value - Structures Total Real Market Value Maximum Assessed Value Total Assessed Value Exemption Value

Property Information Report, page 1

Tax year is July 1st through June 30th of each year.

2013 - 2014 $27,830 $310,860 $338,690

2014 - 2015 $30,050 $335,920 $365,970

2015 - 2016 $30,850 $370,400 $401,250

2016 - 2017 $31,660 $384,820 $416,480

2017 - 2018 $32,020 $409,470 $441,490

$297,127 $296,697 $0

$305,912 $305,482 $0

$314,944 $314,514 $0

$324,250 $323,820 $0

$333,638 $333,208 $0


Property Information Report, page 2 (For Report Disclaimer see page 1)


Tax Payment History Year

Date Due

Transaction Type

Transaction Date

As Of Date

Amount Received

Tax Due

Discount Amount

Interest Charged

Refund Interest

2017

11/15/2017

IMPOSED

11/15/2017

11/15/2017

$0.00

$4,215.35

$0.00

$0.00

$0.00

2017

11/15/2017

PAYMENT

10/26/2017

11/15/2017

$4,088.89 Total:

($4,215.35) $0.00

$126.46

$0.00

$0.00

2016

11/15/2016

2016

11/15/2016

IMPOSED

11/15/2016

11/15/2016

$0.00

$4,025.73

$0.00

$0.00

$0.00

PAYMENT

11/01/2016

11/15/2016

$3,904.96 Total:

($4,025.73) $0.00

$120.77

$0.00

$0.00

2015

11/15/2015

2015

11/15/2015

IMPOSED

11/15/2015

11/15/2015

$0.00

$3,851.85

$0.00

$0.00

$0.00

PAYMENT

11/02/2015

11/15/2015

$3,736.29 Total:

($3,851.85) $0.00

$115.56

$0.00

$0.00

2014

11/15/2014

IMPOSED

11/15/2014

11/15/2014

$0.00

$3,690.25

$0.00

$0.00

$0.00

2014

11/15/2014

PAYMENT

11/04/2014

11/15/2014

$3,579.54 Total:

($3,690.25) $0.00

$110.71

$0.00

$0.00

2013

11/15/2013

IMPOSED

11/15/2013

11/15/2013

$0.00

$3,686.46

$0.00

$0.00

$0.00

2013

11/15/2013

PAYMENT

11/05/2013

11/15/2013

$3,575.87 Total:

($3,686.46) $0.00

$110.59

$0.00

$0.00

2012

11/15/2012

PAYMENT

01/03/2013

11/15/2012

$2,301.16

($2,301.16)

$0.00

$0.00

$0.00

2012

11/15/2012

IMPOSED

11/15/2012

11/15/2012

$0.00

$3,451.74

$0.00

$0.00

$0.00

2012

11/15/2012

PAYMENT

11/07/2012

11/15/2012

$1,150.58 Total:

($1,150.58) $0.00

$0.00

$0.00

$0.00

2011

11/15/2011

IMPOSED

11/15/2011

11/15/2011

$0.00

$3,041.27

$0.00

$0.00

$0.00

2011

11/15/2011

PAYMENT

11/10/2011

11/15/2011

$2,950.03 Total:

($3,041.27) $0.00

$91.24

$0.00

$0.00

2010

11/15/2010

PAYMENT

11/18/2010

11/15/2010

$3,210.37

($3,317.32)

$106.95

$0.00

$0.00

2010

11/15/2010

IMPOSED

11/15/2010

11/15/2010

$0.00

$3,309.66

$0.00

$0.00

$0.00

2010

11/15/2010

IMPOSED

11/15/2010

11/15/2010

$0.00

$255.23

$0.00

$0.00

$0.00

2010

11/15/2010

PAYMENT

10/12/2010

11/15/2010

$247.57 Total:

($247.57) $0.00

$0.00

$0.00

$0.00

Property Information Report, page 3 (For Report Disclaimer see page 1)


Year

Date Due

Transaction Type

Transaction Date

As Of Date

Amount Received

Tax Due

Discount Amount

Interest Charged

Refund Interest

2009

11/15/2009

PAYMENT

05/04/2010

11/15/2009

$1,041.32

($1,041.32)

$0.00

$0.00

$0.00

2009

11/15/2009

PAYMENT

02/03/2010

11/15/2009

$1,041.32

($1,041.32)

$0.00

$0.00

$0.00

2009

11/15/2009

IMPOSED

11/15/2009

11/15/2009

$0.00

$3,123.97

$0.00

$0.00

$0.00

2009

11/15/2009

PAYMENT

11/03/2009

11/15/2009

$1,041.33 Total:

($1,041.33) $0.00

$0.00

$0.00

$0.00

2008

11/15/2008

PAYMENT

05/04/2009

11/15/2008

$1,037.01

($1,037.01)

$0.00

$0.00

$0.00

2008

11/15/2008

PAYMENT

02/03/2009

11/15/2008

$1,037.01

($1,037.01)

$0.00

$0.00

$0.00

2008

11/15/2008

IMPOSED

11/15/2008

11/15/2008

$0.00

$3,111.02

$0.00

$0.00

$0.00

2008

11/15/2008

PAYMENT

11/03/2008

11/15/2008

$1,037.00 Total:

($1,037.00) $0.00

$0.00

$0.00

$0.00

2007

11/15/2007

PAYMENT

05/02/2008

11/15/2007

$979.84

($979.84)

$0.00

$0.00

$0.00

2007

11/15/2007

PAYMENT

02/01/2008

11/15/2007

$979.84

($979.84)

$0.00

$0.00

$0.00

2007

11/15/2007

PAYMENT

11/21/2007

11/15/2007

$979.85

($979.85)

$0.00

$0.00

$0.00

2007

11/15/2007

IMPOSED

11/15/2007

11/15/2007

$0.00 Total:

$2,939.53 $0.00

$0.00

$0.00

$0.00

Sales History Sale Amount

Sale Date Seller

Buyer

06/01/1987

UNDETERMINED GRANTOR NAME

08/11/1997 05/14/2003

WISE, YVONNE MARIE LUNDQUIST, ROBERT WAYNE & PAMELA M BAXTER, DONALD J JR & TERRI L

% WISE, DONALD E. & YVONNE M. LUNDQUIST, ROBERT W &

05/17/2005

CULLIS, RICHARD A &

03/20/1998

Sale Type

Recording

$54,500

REAL ESTATE CONTRACT

083613

PAMELA M BAXTER, DONALD J JR & TERRI L CULLIS, RICHARD A &

$80,500

WARRANTY DEED

135722

$118,000

WARRANTY DEED

139801

$459,000

WARRANTY DEED

180121

GRIFFIN, SALLY &

$575,000

WARRANTY DEED

199875

Structures Stat Class/Description

Improvement Description

- : MISC WDDK

MISC WDDK

Code Area

Year Built

Eff Year Built

Total Sq Ft

21

0

2000

1156

Accessories Improvement Type

Sq Ft

Irrigation

1

Hobby Stables

816

Machine Shed

144

Machine Shed

144

Machine Shed

144

Machine Shed

288

Machine Shed

468

General Purpose Building

900

Machine Shed

1440

Land Characteristics Land Description

Acres

91 - SHS Calculation (Market)

1.00

Land Classification

11 - Farm (Market)

9.20

VA 2 class 2 (Powell Butte)

11 - Farm (Market)

3.91

VA 2 class 3 (Powell Butte)

11 - Farm (Market)

2.38

VA 2 class 5 (Powell Butte)

16 - Specially Assessed OSD

0.00

VA 2 class OSD (Powell Butte)

11 - Farm (Market)

2.09

VA 2 class 72 (Powell Butte)

Property Information Report, page 4 (For Report Disclaimer see page 1)


18 - Yard Improvements

0.00

11 - Farm (Market)

1.51

VA 2 class 61CW (Powell Butte)

Related Accounts Related accounts apply to a property that may be on one map and tax lot but due to billing have more than one account. This occurs when a property is in multiple tax code areas. In other cases there may be business personal property or a manufactured home on this property that is not in the same ownership as the land.

No Related Accounts found.

Ownership Name Type

Name

Owner

GRIFFIN FAMILY TRUST,

Ownership Type

Taxpayer

GRIFFIN FAMILY TRUST,

Owner

GRIFFIN SALLY L CO-TRUSTEE

,

Owner

GRIFFIN WILLIS G CO-TRUSTEE

,

Percentage 100.00% 100.00% 100.00% 100.00%

400.00%

Property Information Report, page 5 (For Report Disclaimer see page 1)


0

0

0 50'

0

0

450'

0

12

0

0

SW

N O I IT

PARCEL 1

0

0

0

420'

S 89º37'12" E 459.98' 450'

T R PA

40

1045.03' N 00º36'22" E

N 00º47'21" E

N 00º47'21" E

873.86'

873.50' (872')

N 00º50'47" E

1

N

CS 96-1521

O

600

22.01 AC 20'

EG

E

1322.54'

R

0

O 6" ' 78 6' 0 2. º 2 20 42 S

8.75 AC

0

C

L

S 89º40'45" E 459.11'

13'

"E

0

206.45'

0 0 57.

RA NT CE

CS 2742

S 87º00'08" E 73.25' S 4 66 6º .4 05 5 ' '1 1

0

0

20.09 AC

501

C ANAL

N 00º36'25" E

S 00 547.30'

AL

5' 3" E 0.5 '5 11 6º39 3 S

0

0

0

12.08 AC

502

AN

0

500

C

900'

909.10'

0 100.00'

0 99.94'

N 89º52'02" W

448.00' S 00º50'47" W

0

PARCEL 3

40'

N 00º07'45" E

CENTRAL

O R E G ON

64

420'

0 4 07

S 89º52'15" E 909.93'

0

S 89º52'44" E 420.04'

20

0

0

AT L P

17.36 AC

H


0

THIS MAP WAS PREPARED FOR ASSESSMENT PURPOSE ONLY

200

400

600

800 Feet

SECTION 1 T.15S. R.14E. W.M. CROOK COUNTY

15S14E01

1" = 400'

35

Cancelled 101 201 202 701 802

36

36

31

39.63

LOT 2

1

6

39.88

LOT 1

2387.95'

RD)

ON ITI T R PA

(CORNET

0

2624.94'

200

39.38

LOT 3

2627.76'

39.13

LP

LOT 4

S 89º51'11" E

2684.02'

233.38 AC

L

200

77.93 AC

NA

300

1758.92'

1325.52'

1

40'

CA

2

2639.92'

0

36 SEE MAP 14S S 89º59' 14E W

HOUSTON LAKE

AT PL

200

43'

0 N 00º05'20" W

- - 881.00' - -

937.

°E N 19

0

0

1320.16' N 00º05'20" W

SEE MAP 15S 15E 06

9" E º15'3

128'

N 20

0

N 00º18'56" E

B SU

354.83'

1341.77'

S 07º49'13"

288.36' N89º47'41"W 547.91'

702 800 26.45 AC

0

0 0

695.14'

W 30'

0

0 693.20'

S00°32'14"W

S 89º47'56" E

50'

POR PAR 2

RD 982.18'

1007.00'

N 00º21'42" W

S 00º31'47" W

0

0

0 0

LOWER HOUSTON LAKE

' 48.67

S 13º 25'13" 228.14 W '

5 7-2

60.69 '

74.32' 60.48' S 03º36'43" E

39.68 96.68' ' N 85º31'38" E

S 00º30'26" E 65.86'

0 20 1280.95'

0 0

0 '

HOUSTON

RA

H NC

S 89º51'22" W 131.56'

POR PAR 2

S89º56'37"W

578.32'

1

6

12

7

0 0

N 89º48'47" W

E ILL

20

1321.83'

R

N

T IO GA

RI IR

0

40

0

0

N 00º47'21" E

E 103.04'

AT PL

S 19 140'° W

0 285'

285'

0 968' M/L

968'

AL ICT

CAN

AL

C AN

675.31' S 00º36'22" W 547.30'

N 00º36'25" E 206.45'

N 00º07'45" E

0 99.94'

0 100.00'

0

0 0

40'

IRRIGATIO

675.44'

S 00º39'07" W

N 00º47'21" E

873.86'

N 00º36'22" E

79.50 CH = 5247'

CORNETT

DISTR

ICT

C ANAL

CANAL

1321.19' S 00º30'06" W

N

873.50'

S 6 79.3 0º1 8' 4'4 1"

40' 136.

N 00º50'47" E

º3 E "E 5 '54" 32.83' 25 '06 N 85º11'49 .40 " E 170.47' º42 2' ' RIG N 6091.4 CANAL AT DISTRIC T IO N

03'

0

PR

EV IN

CS 3959

118.

N IO

0 0

56

0 0

(872')

IR

S

0

0

0

0

0 50'

56 º2 21 7'3 2.9 1" 2' E

0 0 0

IT RT PA

0º 44 01'52 .67 "E '

S

0

E

600

-07 12 20

S6 3'

0 0

" 8' 6'06 2.7 º2 20 42 S

N

450'

1259.92'

702 50.35 AC

0

0

SW

N

PARCEL 1

0

0

S 89º37'12" E 459.98' 450'

0

0

0

0

420'

T

73 .4

O

1322.54'

EG

1

EN

GO

R

1045.03'

C

22.01 AC

0

647.37'

O R E G ON

448.00' S 00º50'47" W

"E

RE

L RA

O

0

0

O

S 82º40' E 300'

N 89º47'41" W 82.27'

L

3'

RA NT CE

57.1

5' 3" E 0.5 '5 11 6º39 3 S

C ANAL

S 87º00'08" E 73.25' S 4 66 6º0 .4 5' 5'1 1

0

8.75 AC

40'

0

0

0

0

CS 2742

CS 96-1521

450' M/L

N89°52'07"W

0

AL

S 89º40'45" E

20'

T

AT PL

275'

- - 500.00 - -

0

909.10'

AN

20.09 AC

459.11'

20 '

20'

0 0

C

900'

502

IS D

PARCEL 3

N 89º52'02" W

0

CENTRAL

0 7-4

501

2

129.00' N89°52'04"W

1332.06'

40.30 AC

0

0

0 20

S 89º52'15" E 909.93'

0

12.08 AC

0

P1

1308.62'

AT PL

17.36 AC

0

N 89º54'30" E

801

10.00 AC

0 0

402

500

SW

PARCEL 2 664.22'

N 89º52'04" W

RT PA

ON ITI

0

PARCEL 1

420'

S00°36'25"W

674.55'

85.58 AC

0

S 00º36' W

2.00 AC

450'

140'

0 673.82'

10.29 AC

1332.03'

700

0

602

S 89º43'21" E

0

0

601

644.40'

1326.87'

0

401

RT PA

1327.35'

S 89º55'29" E

0

400 9.97 AC 30'

S 89º44'16" E

0

400

663.69'

N 82º40' W 275'

0

1308.11'

0

S 89º55'59" E

0

SEE MAP 15S 14E 02

PAR 2

150'

PARCEL 1

200

644.61'

6.82 AC

CS 237

300

S 89º52'44" E 420.04'

11

19

21

'

0

174.80'

100

20'

20

N 00º45'48" E

N 00º48'17" E

0

N 89º43'26" W

-11 90

SEE MAP 15S 14E 12

LAKE

12

Revised: MA 03/05/2013

15S14E01


OREGON

REPORT CARD

2016-17

Crook County High School 1100 SE Lynn Blvd Prineville, OR 97754 (541) 416-6900 cchs.crookcounty.k12.or.us/

DISTRICT Crook County SD SUPERINTENDENT Duane Yecha PRINCIPAL Michelle Jonas GRADES SERVED 9-12

For more report card measures, including detailed demographic information, visit www.oregon.gov/ode/reports-and-data

FROM THE PRINCIPAL

Dear Parents and Community Members, Dear Parents and Community Members, At Crook County High School our dedicated staff strives to ensure that all students graduate Career and College Ready. Our core courses are rigorous and we provide the greatest variety of elective and CTE courses of any high school in Central Oregon. Many of our students graduate from Crook County High School with college credits through AP and College Now courses. Achievements from the 2016-17 school-year include: *87.6% of freshmen students are considered on track to graduate, well above the state average. *Crook County High School graduation rates of 89.5% compared to the state’s 74.8%. Crook County High School will continue to support our students by: *Continuing to implement AVID (Advancement Via Individual Determination) and creating a culture of College Readiness.

*Continuing to provide interventions that help prepare students to meet their Essential Skills. *Providing weekly enrichment for students during Extended Learning Options. Remember, parents play a vital role in their child’s education. You can help your student by monitoring homework, attendance, grades and progress towards graduation through our new online Family Link System. Thank you for partnering with us in your child’s education.

Thank you, Principal

|

Michelle Jonas

SCHOOL PROFILE

STUDENTS

ENROLLMENT 2016-17 MEDIAN CLASS SIZE English Language Arts Mathematics Science Social Studies Self-Contained

School

26.0 21.5 23.5 27.5 --

731 SELECTED DEMOGRAPHICS Economically Disadvantaged Oregon Students with Disabilities 24.0 Ever English Learner 24.0 26.0 Different Languages Spoken 26.0 Regular Attenders -Mobile Students

IMMUNIZATION RATES Percent of students with all required vaccines: 98 Percent of students without all required vaccines: 2 When data are unavailable or to protect student confidentiality: * refers to groups of less than 6 students. <5 indicates that a percentage is less than 5%.

46% 14% 9% 5 81.5% 17.6%

American Indian/Alaska Native, 2% Asian, 1% Black/African American, 1% Hispanic/Latino, 13% Multi-Racial, 7% Native Hawaiian/Pacific Islander, 0% White, 77% 0%

20%

40%

60%

80%

100%

(The percent without required vaccines includes students with medical exemptions, nonmedical exemptions, no immunization records, or up-to-date but incomplete immunization records. Visit http://www.healthoregon.org/immdata for more information.) >95 indicates that a percentage is greater than 95%. *** refers to a school that offers lunch at no charge to all students.

The Oregon Department of Education (ODE) will not assign summative, overall ratings to schools on the 2016-17 report cards given the upcoming implementation of the Every Student Succeeds Act (ESSA) in 2017-18. However, the ODE will report indicator ratings (e.g., achievement, growth, graduation, etc.) for each school and student group on the 2016-17 Report Card (RC) Rating Details reports. These reports are accessible at http://www.oregon.gov/ode/schools-anddistricts/reportcards. For more information about ESSA and the redesign of the school and district report cards, please visit http://www.oregon.gov/ode/rules-and-policies/ESSA.


OREGON

REPORT CARD

2016-17

Crook County High School 1100 SE Lynn Blvd Prineville, OR 97754 (541) 416-6900 cchs.crookcounty.k12.or.us/

PROGRESS

DISTRICT Crook County SD SUPERINTENDENT Duane Yecha PRINCIPAL Michelle Jonas GRADES SERVED 9-12

For more report card measures, including detailed demographic information, visit www.oregon.gov/ode/reports-and-data

ARE STUDENTS MAKING ADEQUATE GAINS OVER TIME?

Performance of students enrolled in the school for a full academic year SCHOOL PERFORMANCE Did at least 95% of the students at this school take required assessments? Yes Participation rate criteria are in place to ensure schools test all eligible students. The Smarter Balanced and 2014-15 was the first operational year of the alternate new English language arts and mathematics School Performance (%) assessments have assessments. four performance 2013-14 2014-15 2015-16 levels where levels 3 English Language Arts (Administered statewide in grades: 3-8, 11) and 4 are meeting the standard for 68.6 80.1 Levels 3 & 4 school and district 25.6 13.9 accountability. Level 2 5.8 6.0 Level 1 See report cards from previous years to view historical OAKS performance data.

Mathematics

26.9 28.8 44.2

71.3

8.3 63.1 28.7

Visit www.oregon.gov/ode/reports-and-data for additional assessment results.

FRESHMEN ON-TRACK TO GRADUATE

Like-School Average (%) 2016-17

63.6 20.6 15.8

71.1 16.9 12.0

74.6 16.4 9.0

33.1 28.3 38.6

28.0 31.1 40.9

35.3 27.3 37.4

38.1 30.8 31.1

(Administered statewide in Grades: 5, 8, 11)

Exceeded Met Did not meet

OUTCOMES

School Oregon Performance (%) Performance (%) 2016-17 2016-17

(Administered statewide in grades: 3-8, 11)

Levels 3 & 4 Level 2 Level 1

Science

No, Interpret Results with Caution

73.1

7.5 65.6 26.9

78.5

8.7 69.8 21.5

69.5

2.4 67.1 30.5

57.8

8.0 49.8 42.2

61.9

6.7 55.2 38.1

*, <5, and >95 are displayed when the data must be suppressed to protect student confidentiality.

WHAT ARE STUDENTS ACHIEVING IN HIGH SCHOOL?

School Performance (%) 2013-14 2014-15 2015-16

School Oregon Performance (%) Performance (%) 2016-17 2016-17

Like-School Average (%) 2016-17

Students who earned 25% of the credits required for a regular diploma by the end of their freshman year. 76.6

Freshmen on track to graduate within 4 years

81.9

92.5

School Performance (%) 2012-13 2013-14 2014-15

Note: Graduation methodology changed in 2013-14.

87.6

83.4

School Oregon Performance (%) Performance (%) 2015-16 2015-16

GRADUATION Students earning a standard diploma within four years of entering high school. RATE Overall graduation rate 59.0 48.4 85.1 89.5

74.8

79.5

Like-School Average (%) 2015-16

78.3

COMPLETION Students earning a regular, modified, extended, or adult high school diploma or completing a GED within five RATE years of entering high school. Overall completion rate

DROPOUT RATE

CONTINUING EDUCATION

88.1

88.3

86.8

91.9

81.9

85.6

0.2

3.9

3.1

Students who dropped out during the school year and did not re-enroll. Overall dropout rate

0.5

0.7

1.6

School Performance (%) 2011-12 2012-13 2013-14

Students continuing their education after high school. Students who enrolled in a community college or four-year school within 16 months of graduation

53.9

48.3

41.2

School Oregon Performance (%) Performance (%) 2014-15 2014-15

51.0

57.4

Like-School Average (%) 2014-15

54.2

*, <5, and >95 are displayed when the data must be suppressed to protect student confidentiality.


OREGON

REPORT CARD

2016-17

Crook County High School 1100 SE Lynn Blvd Prineville, OR 97754 (541) 416-6900 cchs.crookcounty.k12.or.us/

DISTRICT Crook County SD SUPERINTENDENT Duane Yecha PRINCIPAL Michelle Jonas GRADES SERVED 9-12

For more report card measures, including detailed demographic information, visit www.oregon.gov/ode/reports-and-data

OUTCOMES FOR KEY STUDENT GROUPS AT THIS SCHOOL COMPARED TO THE SAME GROUPS STATEWIDE STUDENT GROUP OUTCOMES

School Oregon Like-School Performance Performance Average (%) (%) (%)

School Oregon Like-School Performance Performance Average (%) (%) (%)

School Oregon Like-School Performance Performance Average (%) (%) (%)

Economically Disadvantaged 82.4 75.8 On Track 89.9 68.1 Graduation 90.2 76.8 Completion 0.0 4.2 Dropout

70.4 71.0 80.1 3.6

American Indian/Alaska Native * 70.3 On Track 75.0 56.4 Graduation 66.7 Completion 100.0 0.0 9.1 Dropout

74.1 68.3 82.1 4.7

Native Hawaiian/Pacific Islander * 76.1 On Track -70.1 Graduation -73.6 Completion -5.5 Dropout

76.5 90.0 71.4 3.4

Ever English Learners 85.7 On Track 83.3 Graduation Completion 100.0 Dropout 1.5

78.7 71.1 75.6 4.0

72.9 79.5 79.9 3.3

Asian On Track Graduation Completion Dropout

>95 88.0 91.9 1.3

91.1 83.1 90.4 0.7

White On Track Graduation Completion Dropout

87.8 91.7 93.2 0.2

85.3 76.6 83.9 3.6

80.5 78.5 86.1 3.0

Students with Disabilities On Track 69.0 69.5 Graduation 81.5 55.5 Completion 83.3 64.9 Dropout 0.8 5.7

67.7 57.2 64.3 4.3

Black/African American On Track * 75.6 Graduation -66.1 Completion -72.2 Dropout -6.3

65.8 81.5 81.8 2.4

Female On Track Graduation Completion Dropout

>95 90.1 91.7 0.3

86.5 78.4 84.6 3.4

83.6 83.4 88.8 2.6

Migrant On Track Graduation Completion Dropout

Male On Track Graduation Completion Dropout

79.2 88.9 92.2 0.2

80.4 71.4 79.4 4.5

75.9 73.4 82.5 3.6

* --0.0

* 100.0 100.0 0.0

76.1 68.9 73.8 4.0

63.2 76.5 82.6 2.5

Hispanic/Latino On Track 87.5 Graduation 76.9 Completion 100.0 Dropout 0.8

77.3 69.4 76.5 4.6

74.3 77.9 83.3 3.3

Talented and Gifted On Track >95 Graduation 100.0 Completion 100.0 Dropout 0.0

>95 92.7 96.8 0.6

>95 92.4 96.1 0.9

Multi-Racial On Track Graduation Completion Dropout

83.6 74.4 81.3 4.1

81.0 78.4 85.5 3.8

92.9 100.0 69.2 0.0

*, <5, and >95 are displayed when the data must be suppressed to protect student confidentiality.

On-Track data are based on the 2016-17 school year; all other data are based on the 2015-16 school year. See previous page for outcome definitions.

CURRICULUM & LEARNING ENVIRONMENT WHAT IS THIS SCHOOL DOING TO IMPROVE STUDENT LEARNING AND TO PREPARE STUDENTS FOR THE FUTURE?

SCHOOL READINESS

Counseling Link Crew Physical Education School-based health clinic PBIS

Data and information in the Curriculum and Learning Environment section were provided by local schools and districts, and were not verified by the Oregon Department of Education.


OREGON

REPORT CARD

2016-17

Crook County High School 1100 SE Lynn Blvd Prineville, OR 97754 (541) 416-6900 cchs.crookcounty.k12.or.us/

DISTRICT Crook County SD SUPERINTENDENT Duane Yecha PRINCIPAL Michelle Jonas GRADES SERVED 9-12

For more report card measures, including detailed demographic information, visit www.oregon.gov/ode/reports-and-data

CURRICULUM & LEARNING ENVIRONMENT CONTINUED . . . ACADEMIC SUPPORT AVID Academic Academy/Core subject support Peer Tutoring Read 180 Writing Workshop Reading Workshop Math Support

CAREER & TECHNICAL EDUCATION Agriculture Business Culinary Arts Natural Resources Health Occupations Manufacturing and Engineering

ACADEMIC ENRICHMENT World Language Courses Spanish Honors and Dual-Enrollment Courses Advanced Placement and Dual enrollment Math, English, Social Studies, Foreign Language, CTE Special Programs Talented and Gifted Career and Technical Education

EXTRACURRICULAR ACTIVITIES 18 Interscholastic Sports 4 Service Clubs 8 Theatrical Shows Leadership Drama Band Choir

Data and information in the Curriculum and Learning Environment section were provided by local schools and districts, and were not verified by the Oregon Department of Education.


OREGON

REPORT CARD

2016-17

Powell Butte Community Charter DISTRICT Crook County SD SUPERINTENDENT Duane Yecha School PRINCIPAL Jennifer Berry-O'Shea 13650 SW Hwy 126 Powell Butte, OR 97753 (541) 548-1166 www.powellbuttecharterschool.org

For more report card measures, including detailed demographic information, visit www.oregon.gov/ode/reports-and-data

GRADES SERVED K-8

FROM THE PRINCIPAL

Dear Parents and Community Members, This annual report card issued by the Oregon Department of Education offers an overview of Powell Butte Community Charter School's growth and achievement in the 2016-17 school year. School growth is focused on student achievement scores in Reading, Math and Science. This data helps our students, their teachers and you understand more about our strengths and areas of improvement so learning gaps can be addressed. PBCCS is a proud community school with quality educators who are working hard to meet the needs of ALL learners. PBCCS is working towards ensuring that the adopted English Language Arts and Math curriculum are aligned with our rigorous standards, as well as the Smarter Balanced assessment. The teaching staff works to implement instructional practices that are effective for a wide variety of learners, reinforce literacy across content areas and create opportunities for additional support in reading and enrichment opportunities. While PBCCS continues to show consistent achievement, there are some areas identified for improvement. In the coming year the staff will continue to work on improving our math, reading and writing programs. PBCCS is

committed to professional development, curriculum alignment, implementing new tools and strategies for remediation and enrichment, meaningful data collection and analysis to improve student achievement. PBCCS will continue to integrate a place-based approach in all subject areas to provide students with authentic and meaningful learning opportunities rooted in our community and tied directly to the curriculum. We invite our parents and community members to be actively involved with our school. The success of our students at PBCCS is directly related to the effort of parents, staff, students and the community working together to ensure all students can reach their greatest potential. We will continue to strive for academic excellence, while working to improve our instruction in ways that impact student growth and achievement. At PBCCS we are committed to providing every student with a joyful, creative, supportive and loving learning community, so that they may grow and be their best selves! Thank you, Principal

|

Jennifer Berry-O'Shea

SCHOOL PROFILE

STUDENTS

ENROLLMENT 2016-17 K-3 4-5 6-8 MEDIAN CLASS SIZE Self-Contained Departmentalized

School

21.0 --

186 SELECTED DEMOGRAPHICS 81 Economically Disadvantaged 46 Students with Disabilities 59 Ever English Learner Oregon Different Languages Spoken 24.0 Regular Attenders -Mobile Students

IMMUNIZATION RATES Percent of students with all required vaccines: 93 Percent of students without all required vaccines: 7 When data are unavailable or to protect student confidentiality: * refers to groups of less than 6 students. <5 indicates that a percentage is less than 5%.

27% 17% * 3 87.3% 6.2%

American Indian/Alaska Native, 2% Asian, 0% Black/African American, 1% Hispanic/Latino, 4% Multi-Racial, 3% Native Hawaiian/Pacific Islander, 0% White, 90% 0%

20%

40%

60%

80%

100%

(The percent without required vaccines includes students with medical exemptions, nonmedical exemptions, no immunization records, or up-to-date but incomplete immunization records. Visit http://www.healthoregon.org/immdata for more information.) >95 indicates that a percentage is greater than 95%. *** refers to a school that offers lunch at no charge to all students.

The Oregon Department of Education (ODE) will not assign summative, overall ratings to schools on the 2016-17 report cards given the upcoming implementation of the Every Student Succeeds Act (ESSA) in 2017-18. However, the ODE will report indicator ratings (e.g., achievement, growth, graduation, etc.) for each school and student group on the 2016-17 Report Card (RC) Rating Details reports. These reports are accessible at http://www.oregon.gov/ode/schools-anddistricts/reportcards. For more information about ESSA and the redesign of the school and district report cards, please visit http://www.oregon.gov/ode/rules-and-policies/ESSA.


OREGON

REPORT CARD

2016-17

Powell Butte Community Charter DISTRICT Crook County SD SUPERINTENDENT Duane Yecha School PRINCIPAL Jennifer Berry-O'Shea 13650 SW Hwy 126 Powell Butte, OR 97753 (541) 548-1166 www.powellbuttecharterschool.org

PROGRESS

For more report card measures, including detailed demographic information, visit www.oregon.gov/ode/reports-and-data

GRADES SERVED K-8

ARE STUDENTS MAKING ADEQUATE GAINS OVER TIME?

Performance of students enrolled in the school for a full academic year SCHOOL PERFORMANCE Did at least 95% of the students at this school take required assessments? Yes Participation rate criteria are in place to ensure schools test all eligible students. The Smarter Balanced and 2014-15 was the first operational year of the alternate new English language arts and mathematics School Performance (%) assessments have assessments. four performance 2013-14 2014-15 2015-16 levels where levels 3 English Language Arts (Administered statewide in grades: 3-8, 11) and 4 are meeting the standard for 61.9 63.9 Levels 3 & 4 school and district 19.8 25.4 accountability. Level 2 18.3 10.7 Level 1 See report cards from previous years to view historical OAKS performance data.

Mathematics

No, Interpret Results with Caution

School Oregon Performance (%) Performance (%) 2016-17 2016-17

Like-School Average (%) 2016-17

61.1 24.8 14.2

52.3 22.6 25.1

70.6 17.6 11.7

33.0 43.8 23.2

42.8 27.1 30.1

61.6 24.9 13.6

(Administered statewide in grades: 3-8, 11) 31.7 38.1 30.2

Levels 3 & 4 Level 2 Level 1

Science (OAKS)

31.1 39.3 29.5

(Administered statewide in Grades: 5, 8, 11)

Exceeded Met Did not meet

90.7

11.6 79.1 9.3

74.3

Visit www.oregon.gov/ode/reports-and-data for additional assessment results.

5.7 68.6 25.7

69.0

9.5 59.5 31.0

87.8

19.5 68.3 12.2

64.5

13.3 51.2 35.5

84.5

23.1 61.5 15.5

*, <5, and >95 are displayed when the data must be suppressed to protect student confidentiality.

OUTCOMES FOR KEY STUDENT GROUPS AT THIS SCHOOL COMPARED TO THE SAME GROUPS STATEWIDE STUDENT GROUP OUTCOMES

School Oregon Like-School Performance Performance Average (%) (%) (%)

Economically Disadvantaged Eng. Lang. Arts

Mathematics

Science

39.3 29.6 72.7

American Indian/Alaska Native

39.7 30.1 53.2

49.1 37.4 69.8

30.8 23.7 37.1

45.7 43.5 48.7

Ever English Learners Eng. Lang. Arts

Mathematics

Science

* * *

Mathematics

Science

Mathematics

Science

5.6 <5 87.5

21.1 17.6 34.9

46.6 36.9 66.9

* * *

26.6 19.9 32.4

33.3 <5 *

Mathematics

Science

Science

* * *

33.0 26.3 48.9

61.9 66.7 83.3

* * *

71.9 67.8 71.9

80.4 80.0 79.6

Mathematics

Science

31.1 19.8 37.8

25.6 26.8 53.3

50.0 16.7 *

34.6 25.3 43.4

60.2 47.4 73.3

* * *

56.9 46.4 69.9

70.4 59.8 76.8

Mathematics

Science

* * *

Mathematics

Science

>95 >95 >95

Eng. Lang. Arts

Mathematics

Science

Science

* * *

36.3 26.9 42.9

57.1 57.1 *

Eng. Lang. Arts

61.0 36.4 86.5

58.7 48.9 73.0

71.9 62.5 87.2

Mathematics

Science

Eng. Lang. Arts

Mathematics

73.1 27.5 90.0

57.7 42.4 62.8

76.9 61.1 82.8

Science

50.8 37.7 85.7

47.2 43.1 66.1

64.8 62.0 86.1

Male

Multi-Racial 95.1 94.5 97.6

Mathematics

Female

* * *

Eng. Lang. Arts

Eng. Lang. Arts

Eng. Lang. Arts

White

Eng. Lang. Arts

Hispanic/Latino

Talented and Gifted Eng. Lang. Arts

Mathematics

Black/African American

Migrant Eng. Lang. Arts

Eng. Lang. Arts

School Oregon Like-School Performance Performance Average (%) (%) (%)

Native Hawaiian/Pacific Islander

Asian

Students with Disabilities Eng. Lang. Arts

School Oregon Like-School Performance Performance Average (%) (%) (%)

Eng. Lang. Arts

Mathematics

Science

*, <5, and >95 are displayed when the data must be suppressed to protect student confidentiality.


OREGON

REPORT CARD

2016-17

Powell Butte Community Charter DISTRICT Crook County SD SUPERINTENDENT Duane Yecha School PRINCIPAL Jennifer Berry-O'Shea 13650 SW Hwy 126 Powell Butte, OR 97753 (541) 548-1166 www.powellbuttecharterschool.org

GRADES SERVED K-8

For more report card measures, including detailed demographic information, visit www.oregon.gov/ode/reports-and-data

CURRICULUM & LEARNING ENVIRONMENT WHAT IS THIS SCHOOL DOING TO IMPROVE STUDENT LEARNING AND TO PREPARE STUDENTS FOR THE FUTURE?

SCHOOL READINESS

ACADEMIC SUPPORT

EXTRACURRICULAR ACTIVITIES/ AFTER SCHOOL PROGRAMS

Positive Behavioral Interventions and Supports (PBIS) Vision and Hearing Screening Kindergarten Conferences Daily morning meeting Social/emotional learning curriculum

Special Education English Language Learners Response to Intervention Positive Behavior Intervention Support System Educational Technology Instructional Support Staff

Physical education Healthy lunch program

ACADEMIC ENRICHMENT

Art Music Physical Education Place Based Field Work TAG Leadership Technology Drama Foreign Language

After school activities Family events Musical performances Learning fairs

Data and information in the Curriculum and Learning Environment section were provided by local schools and districts, and were not verified by the Oregon Department of Education.


Designed by Canada's premier golf course architect Mr. Bill Robinson, the course which crosses the Crooked River 4 times, winds through rolling mounds, 10 ponds and 66 bunkers. Meadow Lakes is a player friendly course with generous fairways, huge greens (6,700 sq. ft. average) and 4 sets of tees. The course plays from 5,155 to 6,731 yards with a course rating of 71.7 and a slope of 125. Meadow Lakes has been host to the 1998 OGA Mid-Amateur Championship, 1999 OGA Public Links Championship and the 2002 OGA Team Championship.

History In 1988, the City of Prineville was facing fines of up to $25,000 per day if it did not find a way to dispose of the wastewater that was being dumped into the Crooked River . Since the city did not have enough money to build a new water-treatment center, the EPA suggested spraying the wastewater over a 400 acre alfalfa field. The mayor, City Manager and City Council decided to build a golf course that would dispose of the wastewater. Meadow Lakes Golf Course is now a fully functional 18-hole championship golf course and waste-water disposal site. The water is disposed of through irrigation and the 10 evaporation ponds that double as water hazards for local golfers. What was initially a huge problem, has turned into a financial and environmental success. Meadow Lakes has been featured in many national publications, and received the inaugural Golf Digest Environmental Leaders Golf Award. Many other golf courses have been modeled after the project completed by the City of Prineville . Meadow Lakes is an active municipal golf course that has hosted two Oregon Amateur State Championships, including the 1998 Oregon MidAmateur Championship. Word has certainly gotten out that this wastewater treatment facility is also a great golf course. Golfers come from all over the Pacific Northwest to play the golf course that they have read and heard so much about. The challenging and enjoyable layout, designed by Bill Robinson, keeps the golfers coming back. Set on the beautiful desert highlands of sunny Central Oregon , amidst sparkling blue ponds, rockrimmed buttes and green meadows, Meadow Lakes features a championship course, a beautiful clubhouse, and a friendly staff eager to make your round of golf an extraordinary experience. Meadow Lakes has been featured in the USA Golf Journal and is one of the first-ever recipients of Golf Digest's National Environmental Leaders Award.


300 SW Meadow Lakes Drive Prineville, Oregon 97754 541.447.7113


Crook County Parks and Recreation Crook County Parks and Recreation District coordinates many of the events and indoor/outdoor recreation programs throughout the year. Many of the parks have covered areas, amphitheater, and baseball fields are by reservation only. Horseshoe pits, shuffleboard, volleyball courts, basketball courts, bocce ball are available at select parks. A few of the parks and events by the Crook County Parks and Recreation District are listed below:

Ochoco Lake Campground 11700 NE Ochoco Hwy Prineville, OR 97754 Operated by Crook County Parks and Recreation District, Ochoco Lake Campground is open seasonally from April 1 through approximately October 31 each year, depending on weather. Located just seven miles east of Prineville on Highway 26 (11700 NE Ochoco Hwy), Ochoco Lake Campground is situated right on the shores of Ochoco Lake. There are 22 self-contained camping spaces available on a first-come first-served basis (limit six people per site, including children), payable by cash, check or Visa/Mastercard. Sites are up to 50 feet long, there are no pull-throughs.

Crooked River Park 1377 S. Main St Prineville, Oregon 97754 This is the largest park, a 30-acre site that the District owns and operates. Facilities at the park include an outdoor amphitheater for theatrical and small music shows. The park also includes Riverside #1 and #2 fields and the Les Schwab #1 and #2 fields that are used by Crook County Little League. Other facilities at the park include five soccer fields, an outdoor volleyball court, a two-sided covered picnic area with handicap accessible restrooms, a concession booth and two children's playground areas. The park also has excellent river access to the Crooked River for fishing and swimming. Crooked River Park hosts the week long Boy Scout Campout, the Les Schwab BBQ, weddings, receptions and car shows.


Crook County Fishing Derby at Ochoco Reservoir It's a great morning of local fishing competition regardless of weather conditions. Fishing is open to anglers of all ages, with fishing from either shoreline or boat. Anglers are responsible for knowing current fishing regulations from the 2013 synopsis applicable to Ochoco Lake. The morning kicks off at Ochoco Lake Campground. Bring your personal fishing gear, and wear cold weather attire. Complimentary snacks, hot coffee, and hot chocolate provided to all anglers. Register early as the registration fee goes up if you register the morning of the derby. For more information on dates and registration please contact the Crook County Parks and Recreation office at 541.447.1209

The Prineville Farmers' Market is in its 7th year of service to the Central Oregon community of Prineville. A small market made up of devoted producers mostly from the local area. Our market is held each Saturday, 8:30 a.m. to 12:30 p.m., from June 16th to October 6th at the Downtown Plaza on 3rd Street. Our main goal is to provide an avenue for local growers to get their products into the hands of local consumers. As a high desert community, Prineville has a shorter growing season than other parts of the state. It is our mission to educate consumers about what types of crops are grown in the local area, and when they are available.

Crook County is home to many beautiful features including Deschutes and Ochoco National Forests, Ochoco Reservoir and together with the Crooked River National Grasslands, encompass just over 2.5 million acres of Central Oregon.. Alpine forests and lush meadows, sparkling lakes and scenic rivers, and open prairies within the spectacular snow capped volcanic peaks of the Cascade Mountain Range to the west and high desert to the east. For more information please contact Crook County Parks and Recreation District. For More Information: 398 NE Fairview St | Prineville, Oregon 97754 | 541.447.1209 | 541.447.9894




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WĞƌŚĂƉƐŽŶĞŽĨƚŚĞŐƌĞĂƚĞƐƚĂƐƐĞƚƐŝŶKƌĞŐŽŶŝƐƚŚĞƐƚƌƵĐƚƵƌĞŽĨŚŽǁĐŽƌƉŽƌĂƚŝŽŶƐĂƌĞƚĂdžĞĚ͕ŬŶŽǁŶĂƐƚŚĞ^ŝŶŐůĞ^ĂůĞƐ&ĂĐƚŽƌ͘ dŚĞƚĂdžƌĂƚĞŽŶĐŽƌƉŽƌĂƚĞŝŶĐŽŵĞŽĨĨŝƌŵƐĚŽŝŶŐďƵƐŝŶĞƐƐŝŶƚŚĞƐƚĂƚĞŝƐƚŚĞŐƌĞĂƚĞƌŽĨĂŵŝŶŝŵƵŵďĂƐĞĚŽŶƌĞůĂƚŝǀĞKƌĞŐŽŶ ƐĂůĞƐ;ΨϭϱϬͲΨϭϬϬ͕ϬϬϬ͕ĂƉƉƌŽdžŝŵĂƚĞůLJϬ͘ϭйŽĨƐĂůĞƐďLJƚŚĞĞŶƚŝƚLJͿŽƌĂŶŝŶĐŽŵĞͲďĂƐĞĚůĞǀLJŽĨϲ͘ϲйŽŶĂŵŽƵŶƚƐƵƉƚŽΨϭŵŝůůŝŽŶ ĂŶĚϳ͘ϲйĂďŽǀĞƚŚĂƚ͘  ZĞůĂƚŝǀĞKƌĞŐŽŶƐĂůĞƐĂƌĞƌĞƐƉŽŶƐŝďůĞϭϬϬйŝŶĚĞƚĞƌŵŝŶŝŶŐh͘^͘ĐŽƌƉŽƌĂƚĞŝŶĐŽŵĞƚĂdžĂďůĞŝŶKƌĞŐŽŶ͘dŚŝƐƐŝŶŐůĞŝŶƚĞƌƐƚĂƚĞ ĨĂĐƚŽƌƐƚĂŶĚƐŝŶĐŽŶƚƌĂƐƚƚŽƐƚĂƚĞƐƚŚĂƚĂůƐŽƵƐĞĨĂĐƚŽƌƐĨŽƌƉƌŽƉĞƌƚLJĂŶĚƉĂLJƌŽůůƚŽĂƉƉŽƌƚŝŽŶƚĂdžĂďůĞŝŶĐŽŵĞ͘/ƚŝƐĂĚǀĂŶƚĂͲ ŐĞŽƵƐƚŽĂďƵƐŝŶĞƐƐŚĞĂĚƋƵĂƌƚĞƌĞĚŽƌƉƌŽĚƵĐŝŶŐƚĂŶŐŝďůĞŐŽŽĚƐŝŶKƌĞŐŽŶ;ĂŶĚƐĞůůŝŶŐƉƌŽĚƵĐƚƐƚŚƌŽƵŐŚŽƵƚƚŚĞĐŽƵŶƚLJ͕ŽƌƚŚĞ ǁŽƌůĚ͕ǁŚĞƌĞŝƚĂůƐŽŽƉĞƌĂƚĞƐͿďĞĐĂƵƐĞŝƚƐďƵƐŝŶĞƐƐKƌĞŐŽŶƚĂdžůŝĂďŝůŝƚLJŝƐƉƌŽƉŽƌƚŝŽŶĂůŽŶůLJƚŽŝƚƐKƌĞŐŽŶĐƵƐƚŽŵĞƌďĂƐĞ͕ĂŶĚ ƚŚĂƚůŝĂďŝůŝƚLJĚŽĞƐŶŽƚŐƌŽǁĚŝƌĞĐƚůLJĂƐĂƌĞƐƵůƚŽĨŐƌĞĂƚĞƌŝŶǀĞƐƚŵĞŶƚŽƌĞŵƉůŽLJŵĞŶƚŝŶKƌĞŐŽŶ͘  ,ŽǁƚŚĞƐŝŶŐůĞƐĂůĞƐĨĂĐƚŽƌǁŽƌŬƐ  /ŶŝƚƐKƌĞŐŽŶƚĂdžƌĞƚƵƌŶ͕ƚŚĞďƵƐŝŶĞƐƐƚĂŬĞƐƚŚĞƌĂƚŝŽƚŽŝƚƐĐŽŶƐŽůŝĚĂƚĞĚĨĞĚĞƌĂůŝŶĐŽŵĞ͘dŚĞƌĞƐƵůƚŝƐKƌĞŐŽŶƚĂdžĂďůĞŝŶĐŽŵĞ͘ KƌĞŐŽŶƐĂůĞƐĂƌĞďĂƐĞĚŽŶǁŚĞƌĞƚŚĞŐƌĞĂƚĞƌĐŽƐƚŽĨƉĞƌĨŽƌŵĂŶĐĞŽĐĐƵƌƐĨŽƌƚĂŶŐŝďůĞƐĂůĞƐ͘/ŶƚŚĞĐĂƐĞŽĨƚĂŶŐŝďůĞŐŽŽĚƐ͕KƌͲ ĞŐŽŶƐĂůĞƐŝŶĐůƵĚĞƚŚĞƚŚƌŽǁďĂĐŬŽĨƐĂůĞƐƚŽĐƵƐƚŽŵĞƌƐǁŚĞƌĞƚŚĞĞŶƚŝƚLJǁŽƵůĚŶŽƚŽƚŚĞƌǁŝƐĞďĞƚĂdžĂďůĞ͘;^ŽƵƌĐĞ͗ƵƐŝŶĞƐƐ KƌĞŐŽŶͿ  dŚŝƐƚĂdžƉŽůŝĐLJŝƐĂŵĂũŽƌƌĞĂƐŽŶǁŚLJKƌĞŐŽŶŝƐŚŽŵĞƚŽ/ŶƚĞů͛ƐůĂƌŐĞƐƚŐůŽďĂůĞŵƉůŽLJŵĞŶƚĂŶĚĐĂƉŝƚĂůŝŶǀĞƐƚŵĞŶƚ͘dŚĞƐŝŶŐůĞ ƐĂůĞƐĨĂĐƚŽƌĂůƐŽƉůĂLJƐĂŶŝŵƉŽƌƚĂŶƚƌŽůĞĨŽƌEŝŬĞ͕ŽůƵŵďŝĂ^ƉŽƌƚƐǁĞĂƌ͕<ĞĞŶ͕ĂŶĚŽƚŚĞƌŽƵƚĚŽŽƌŐĞĂƌĂŶĚĂƉƉĂƌĞůŵĂŶƵĨĂĐͲ ƚƵƌĞƌƐ͛ĐŽŶƚŝŶƵĞĚŐƌŽǁƚŚŽĨŚĞĂĚƋƵĂƌƚĞƌƐ͕ZΘ͕ĂŶĚǁĂƌĞŚŽƵƐĞŽƉĞƌĂƚŝŽŶƐ͘



hƉĚĂƚĞĚϭϬͬϯϭͬϮϬϭϳ



WĂŐĞϰ

ƌŽŽŬŽƵŶƚLJWƌŽĨŝůĞ





‹ŽƉLJƌŝŐŚƚϮϬϭϱK


KƌĞŐŽŶŽĨĨĞƌƐŵŽƌĞŝŶĐĞŶƚŝǀĞƉƌŽŐƌĂŵƐƚŽƚƌĂĚĞĚͲƐĞĐƚŽƌďƵƐŝŶĞƐƐĞƐ;ĐŽŵƉĂŶŝĞƐƚŚĂƚƐĞůůƉƌŽĚƵĐƚƐŽƌƐĞƌǀŝĐĞƐŽƵƚƐŝĚĞŽĨƚŚĞ ĂƌĞĂͿƚŚĂŶtĂƐŚŝŶŐƚŽŶŽƌĂůŝĨŽƌŶŝĂĐŽŵďŝŶĞĚ͘ƚƚĞŵƉƚŝŶŐƚŽƵŶĚĞƌƐƚĂŶĚĂůůĐŽƐƚĨĂĐƚŽƌƐŝŶĚŝĨĨĞƌĞŶƚƐƚĂƚĞƐĂŶĚŚŽǁƚŚŽƐĞ ŝŵƉĂĐƚLJŽƵƌƐƉĞĐŝĨŝĐďƵƐŝŶĞƐƐĐĂŶďĞĂĚĂƵŶƚŝŶŐƚĂƐŬ͘^ŽŵĞĐŽƐƚĨĂĐƚŽƌƐƐƵĐŚĂƐƚŚĞĞĨĨŝĐŝĞŶĐLJĂŶĚĂƉƉƌŽĂĐŚƚŽƌĞŐƵůĂƚŽƌLJ ŽǀĞƌƐŝŐŚƚ;ŝ͘Ğ͘ŝŵƉůĞŵĞŶƚĂƚŝŽŶŽĨĨĞĚĞƌĂůWƌƵůĞƐͿĐĂŶďĞĚƌĂŵĂƚŝĐĂůůLJĚŝĨĨĞƌĞŶƚĨƌŽŵƐƚĂƚĞƚŽƐƚĂƚĞ͕ďƵƚǀŝƌƚƵĂůůLJŝŵƉŽƐƐŝďůĞ ƚŽƉůĂĐĞĂĚŽůůĂƌǀĂůƵĞŽŶĨŽƌĐŽŵƉĂƌŝƐŽŶƉƵƌƉŽƐĞƐ 

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ǀĞƌĂŐĞDŽŶƚŚůLJZĞŶƚ dŚĞĞŶƚƌĂůKƌĞŐŽŶƌĞŶƚĂůŵĂƌŬĞƚĐŽŶƚŝŶƵĞƐƚŽ ĨĂĐĞŚĞŝŐŚƚĞŶĞĚĚĞŵĂŶĚŝŶƚŚĞŵŝĚƐƚŽĨĐŽŶͲ ƐƚƌĂŝŶĞĚƐƵƉƉůLJ͘ĐĐŽƌĚŝŶŐƚŽƚŚĞĞŶƚƌĂůKƌĞŐŽŶ ZĞŶƚĂůKǁŶĞƌƐƐƐŽĐŝĂƚŝŽŶ;KZKͿ͕ƚŚĞŽǀĞƌĂůů ǀĂĐĂŶĐLJƌĂƚĞŝƐϭ͘ϱϬй;ĂƐŽĨDĂLJϮϬϭϲͿ͕ĚŽǁŶ ĨƌŽŵϭϮ͘ϰйŝŶϮϬϬϵ͘  dŚĞŚŝŐŚĚĞŵĂŶĚŚĂƐĞdžĞƌƚĞĚƉƌĞƐƐƵƌĞŽŶƉƌŝĐĞƐ ĂŶĚĂŐƌŽǁŝŶŐŝŶƚĞƌĞƐƚŝŶŵƵůƚŝͲĨĂŵŝůLJƌĞƐŝĚĞŶƚŝĂů ĐŽŶƐƚƌƵĐƚŝŽŶ͘/ŶƚŚĞůĂƐƚLJĞĂƌ͕ƚǁŽĂŶĚƚŚƌĞĞďĞĚͲ ƌŽŽŵƌĞŶƚĂůŚŽƵƐĞƐŝŶĐƌĞĂƐĞĚŵŽƌĞŽŶĂƉĞƌĐĞŶƚĂŐĞ



hƉĚĂƚĞĚϭϬͬϯϭͬϮϬϭϳ



WĂŐĞϱ

ƌŽŽŬŽƵŶƚLJWƌŽĨŝůĞ





‹ŽƉLJƌŝŐŚƚϮϬϭϱK


ďĂƐŝƐƚŚĂŶĂƉĂƌƚŵĞŶƚƐĂŶĚĚƵƉůĞdžĞƐ͘ϮϬϭϲĂǀĞƌĂŐĞƌĞŶƚƉƌŝĐĞƐĨŽƌƚŚƌĞĞďĞĚƌŽŽŵŚŽŵĞƐǁĞƌĞƵƉƐůŝŐŚƚůLJĨƌŽŵϮϬϭϱŝŶŶĞĂƌůLJĂůů ĞŶƚƌĂůKƌĞŐŽŶĐŽŵŵƵŶŝƚŝĞƐ͘KƵƌĞdžƉĞĐƚĂƚŝŽŶŝƐƚŚĂƚϮϬϭϳĂŶŶƵĂůƌĞŶƚĂůĨŝŐƵƌĞƐǁŝůůďĞƵƉƐŚĂƌƉůLJŝŶŵŽƐƚĞŶƚƌĂůKƌĞŐŽŶĐŽŵŵƵŶŝͲ ƚŝĞƐĂŵŝĚƐƚƐƚƌŽŶŐŝŶͲŵŝŐƌĂƚŝŽŶĂŶĚŶĞĂƌƌĞĐŽƌĚůŽǁǀĂĐĂŶĐŝĞƐ͘

 ,ŽŵĞWƌŝĐĞƐ ƐǁŝƚŚŵƵĐŚŽĨƚŚĞƌĞƐƚŽĨƚŚĞ ĐŽƵŶƚƌLJ͕ƌĞƐŝĚĞŶƚŝĂůƉƌŽƉĞƌƚLJƉƌŝĐĞƐ ƉĞĂŬĞĚƚŽĂůůͲƚŝŵĞŚŝŐŚƐŝŶϮϬϬϳ ĂŶĚĚĞĐůŝŶĞĚŝŶǀĂůƵĞďLJĂƐŵƵĐŚ ĂƐϰϬйŝŶƚŚĞĨŽůůŽǁŝŶŐLJĞĂƌƐ͘WƌŝĐͲ ĞƐŚĂǀĞƌĞďŽƵŶĚĞĚƐƵďƐƚĂŶƚŝĂůůLJ͖ ďŽƚŚŵĞĚŝĂŶĂŶĚĂǀĞƌĂŐĞŚŽŵĞ ƉƌŝĐĞƐŝŶĐƌĞĂƐĞĚŝŶϮϬϭϲĂĐƌŽƐƐƚŚĞ ƌĞŐŝŽŶ͕ĂŶĚĂƌĞĐƵƌƌĞŶƚůLJĂƚŽƌ ĂďŽǀĞĂůůͲƚŝŵĞŚŝŐŚƐ͘       







hƉĚĂƚĞĚϭϬͬϯϭͬϮϬϭϳ



WĂŐĞϲ

ƌŽŽŬŽƵŶƚLJWƌŽĨŝůĞ





‹ŽƉLJƌŝŐŚƚϮϬϭϱK


ŽŵŵĞƌĐŝĂůĂŶĚŝŶĚƵƐƚƌŝĂůƌĞĂůĞƐƚĂƚĞŵĂƌŬĞƚƚƌĞŶĚƐ ĞŶƚƌĂůKƌĞŐŽŶ͛ƐĐŽŵŵĞƌĐŝĂůƌĞĂůĞƐƚĂƚĞŵĂƌŬĞƚŝƐŵĂƌŬĞĚďLJƐƵďƐƚĂŶƚŝĂůƉŽƐŝƚŝǀĞĂďƐŽƌƉƚŝŽŶƚƌĞŶĚƐ͘/ŶƚŚĞŝƌƋƵĂƌƚĞƌůLJWK/Ed^ƌĞͲ ƉŽƌƚ͕ŽŵƉĂƐƐŽŵŵĞƌĐŝĂůZĞĂůƐƚĂƚĞŽďƐĞƌǀĞƐƚŚĂƚϮϬϭϰŵĂƌŬĞĚƚŚĞďĞŐŝŶŶŝŶŐŽĨƚŚĞĞŶĚŽĨƚŚĞƌĞĐĞƐƐŝŽŶĨŽƌƚŚĞŽĨĨŝĐĞŵĂƌŬĞƚ͘ ZĞƚĂŝůĂŶĚŽĨĨŝĐĞƐĞĐƚŽƌƐĂƌĞĞdžƉĞƌŝĞŶĐŝŶŐƐƚƌŽŶŐŐƌŽǁƚŚĂŶĚůŽǁǀĂĐĂŶĐLJƌĂƚĞƐ͘ƵŝůĚŝŶŐĂĐƚŝǀŝƚLJŝƐƐƚĞĂĚŝůLJŝŶĐƌĞĂƐŝŶŐƚŚƌŽƵŐŚŽƵƚ ĞŶƚƌĂůKƌĞŐŽŶ͘ƵƌƌĞŶƚĚĞŵĂŶĚĨŽƌƌĞƐŝĚĞŶƚŝĂůƌĞĂůĞƐƚĂƚĞŝƐŽƵƚƉĂĐŝŶŐƚŚĞĂǀĂŝůĂďůĞƐƵƉƉůLJŽĨƉƌŽƉĞƌƚŝĞƐ͘ƐĂƌĞƐƵůƚ͕ƚŚĞŶƵŵďĞƌ ŽĨďƵŝůĚŝŶŐƉĞƌŵŝƚƐŝƐƐƵĞĚŝƐŝŶĐƌĞĂƐŝŶŐƌĂƉŝĚůLJĂŶĚŚŽŵĞƉƌŝĐĞƐĂƌĞĐůŝŵďŝŶŐ͘



WĞƌŵŝƚĐƚŝǀŝƚLJŝŶƌŽŽŬŽƵŶƚLJ

ƵŝůĚŝŶŐWĞƌŵŝƚƐ 



ZĞƐŝĚĞŶƚŝĂůďƵŝůĚŝŶŐĂĐƚŝǀŝƚLJŝŶƌŽŽŬŽƵŶƚLJŚĂƐŶŽƚLJĞƚĂƉͲ ƉƌŽĂĐŚĞĚƚŚĞŚŝŐŚͲǁĂƚĞƌŵĂƌŬŽĨϮϬϬϲďƵƚŚĂƐƐĞĞŶĂƐŝŐŶŝĨŝĐĂŶƚ ƌĞďŽƵŶĚŝŶϮϬϭϱĂŶĚϮϬϭϲ͘ŽŵŵĞƌĐŝĂůĂŶĚŝŶĚƵƐƚƌŝĂůƉĞƌŵŝƚĂĐƚŝǀŝͲ ƚLJƐŚŽǁĞĚƌĞŶĞǁĞĚǀŝƚĂůŝƚLJŝŶϮϬϭϰǁŝƚŚϴϵƉĞƌŵŝƚƐ͕ƚŚĞŚŝŐŚĞƐƚ ŶƵŵďĞƌŝŶƚŚĞůĂƐƚĚĞĐĂĚĞ͕ĂŶĚŚĂƐƌĞŵĂŝŶĞĚƐƚƌŽŶŐƚŚƌŽƵŐŚϮϬϭϱ ĂŶĚϮϬϭϲ͘

ϮϬϬϲ ϮϬϬϳ ϮϬϬϴ ϮϬϬϵ ϮϬϭϬ ϮϬϭϭ ϮϬϭϮ ϮϬϭϯ ϮϬϭϰ ϮϬϭϱ ϮϬϭϲ



>ĂŶĚĐŽƐƚƐĂŶĚůĞĂƐĞƌĂƚĞƐ

ZĞƐŝĚĞŶƚŝĂů ϰϱϯ Ϯϯϯ ϭϬϭ ϭϵ ϰϰ ϯϯ Ϯϯ ϲϯ ϵϯ ϭϭϱ ϭϲϰ

ŽŵŵĞƌĐŝĂůͬ /ŶĚƵƐƚƌŝĂů ϰϲ ϯϵ ϱϵ ϭϳ ϲ ϭϴ ϭϬ ϯϭ ϴϵ ϳϳ ϲϯ

dŽƚĂů sĂůƵĂƚŝŽŶ Ψϳϲ͕ϬϵϬ͕ϯϴϲ Ψϯϵ͕ϭϳϵ͕ϱϳϬ ΨϮϲ͕ϳϳϲ͕ϳϬϮ Ψϭϴ͕ϯϵϮ͕Ϯϳϱ Ψϱϯ͕ϴϵϬ͕ϯϲϱ Ψϯϭ͕ϰϬϯ͕ϲϴϮ Ψϯϴ͕Ϯϳϭ͕Ϭϲϱ ΨϮϬ͕Ϯϲϳ͕ϴϵϱ Ψϱϵ͕ϵϯϰ͕ϵϲϳ Ψϭϯϴ͕ϳϬϬ͕ϴϮϯ ΨϭϮϴ͕ϰϵϬ͕ϵϱϰ

>ĂŶĚĐŽƐƚƐŝŶƌŽŽŬŽƵŶƚLJĂƌĞƌĞďŽƵŶĚŝŶŐĂĨƚĞƌƐĞĞŝŶŐƐŝŐŶŝĨŝĐĂŶƚ ǀĂůƵĞƌĞĚƵĐƚŝŽŶƐŝŶƚŚĞƉĂƐƚĨĞǁLJĞĂƌƐ͘WƌŝŶĞǀŝůůĞĂŶĚƌŽŽŬŽƵŶƚLJ ĂƌĞŬŶŽǁŶĨŽƌĨĂƐƚͲƚƌĂĐŬƉĞƌŵŝƚƚŝŶŐ͕ĨůĞdžŝďŝůŝƚLJ͕ĂŶĚĐŽŵŵŽŶƐĞŶƐĞ ƉůĂŶŶŝŶŐĂŶĚƉĞƌŵŝƚƚŝŶŐĨĞĞƐ͘dŚŝƐŵĂŬĞƐƌŽŽŬŽƵŶƚLJŽŶĞŽĨƚŚĞ ŵŽƐƚĐŽƐƚͲĞĨĨĞĐƚŝǀĞĂƌĞĂƐƚŽĚĞǀĞůŽƉĂŶĚͬŽƌďƵŝůĚŝŶĞŶƚƌĂůKƌĞͲ ^ŽƵƌĐĞ͗ƌŽŽŬŽƵŶƚLJƵŝůĚŝŶŐĞƉĂƌƚŵĞŶƚ ŐŽŶ͘   WƌŝŶĞǀŝůůĞĂůƐŽďŽĂƐƚƐ ƐĞǀĞƌĂůŝŵƉŽƌƚĂŶƚƚĂdž ŝŶĐĞŶƚŝǀĞƐƚŽŚĞůƉ ďƵƐŝŶĞƐƐĞƐǁŝƚŚƌĞůŽͲ ĐĂƚŝŽŶĂŶĚĞdžƉĂŶƐŝŽŶ͕ ŝŶĐůƵĚŝŶŐƚŚĞŶƚĞƌͲ ƉƌŝƐĞŽŶĞ͕ZƵƌĂůZĞͲ ŶĞǁĂďůĞŶĞƌŐLJŽŶĞ͕ ĂŶĚƚŚĞ>ŽŶŐͲƚĞƌŵŶͲ ƚĞƌƉƌŝƐĞŽŶĞ͕ǁŚŝĐŚ ĐĂŶƉƌŽǀŝĚĞƵƉƚŽϭϱͲ LJĞĂƌƐŽĨϭϬϬйƉƌŽƉĞƌͲ ƚLJƚĂdžĞdžĞŵƉƚŝŽŶŽŶŶĞǁƉĞƌƐŽŶĂůĂŶĚƌĞĂůƉƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚƐ͘&ŽƌŵŽƌĞŝŶĨŽƌŵĂƚŝŽŶŽŶƚŚĞƐĞƉƌŽŐƌĂŵƐ͕ĐŽŶƚĂĐƚK͛Ɛ WƌŝŶĞǀŝůůĞŽĨĨŝĐĞĂƚϱϰϭͲϮϯϯͲϮϬϭϱ͘ 

zĞĂƌ

ZĞĂůDĂƌŬĞƚsĂůƵĞ

ŝƚLJŽĨWƌŝŶĞǀŝůůĞ ϮϬϭϭͬϭϮ Ψϴϯϱ͕Ϯϰϲ͕Ϯϵϳ ϮϬϭϮͬϭϯ Ψϱϰϲ͕ϭϭϬ͕ϵϴϬ ϮϬϭϯͬϭϰ Ψϱϵϲ͕ϲϱϵ͕Ϭϲϭ ϮϬϭϰͲϭϱ Ψϲϱϭ͕Ϭϳϳ͕Ϭϯϱ ϮϬϭϱͲϭϲ Ψϲϵϴ͕ϭϰϯ͕ϰϰϲ ϮϬϭϲͲϭϳ Ψϳϴϰ͕ϰϲϰ͕ϳϬϭ ƌŽŽŬŽƵŶƚLJ ϮϬϭϭͬϭϮ Ψϭ͕ϳϲϬ͕Ϯϱϱ͕ϳϰϳ ϮϬϭϮͬϭϯ Ψϭ͕ϳϬϭ͕ϱϴϬ͕ϰϱϬ ϮϬϭϯͬϭϰ Ψϭ͕ϴϬϲ͕ϴϵϱ͕ϲϱϭ ϮϬϭϰͲϭϱ ΨϮ͕Ϭϴϴ͕ϮϮϵ͕ϰϱϴ ϮϬϭϱͲϭϲ ΨϮ͕Ϯϳϯ͕ϴϰϰ͕ϴϳϰ ϮϬϭϲͲϭϳ ΨϮ͕ϱϰϭ͕ϮϳϮ͕ϯϴϮ

ƐƐĞƐƐĞĚ sĂůƵĂƚŝŽŶ

dĂdžZĂƚĞΎ ;ƉĞƌΨϭϬϬϬͿ

Ψϱϰϭ͕ϴϭϰ͕ϴϱϭ ΨϱϮϮ͕Ϭϭϰ͕ϭϭϬ Ψϱϱϳ͕ϯϯϭ͕ϯϮϴ Ψϱϵϰ͕ϵϭϯ͕ϯϵϳ ΨϲϮϭ͕ϰϭϮ͕ϳϲϬ Ψϲϱϵ͕ϳϮϬ͕ϳϱϭ

Ψϭϲ͘ϱϯ Ψϭϲ͘ϰϮ Ψϭϱ͘ϵϵ Ψϭϱ͘ϵϵ Ψϭϲ͘ϭϮ Ψϭϲ͘ϯϰϮϴ

Ψϭ͕ϱϰϭ͕ϴϱϱ͕ϵϬϯ Ψϭ͕ϱϮϳ͕Ϭϲϵ͕ϯϲϱ Ψϭ͕ϲϬϳ͕ϲϱϰ͕ϲϱϰ Ψϭ͕ϳϰϯ͕ϴϮϴ͕ϱϮϳ Ψϭ͕ϴϰϱ͕ϴϯϵ͕ϴϲϯ Ψϭ͕ϵϱϭ͕ϯϴϰ͕ϲϭϯ

Ψϭϯ͘ϱϭ Ψϭϯ͘ϱϭ Ψϭϯ͘ϱϮ Ψϭϯ͘ϱϮ Ψϭϯ͘ϲϭ Ψϭϯ͘ϴϬ

sĂůƵĂƚŝŽŶĞƚĂŝůΘWƌŽƉĞƌƚLJdĂdžĂƚŝŽŶ ƐƐĞƐƐĞĚǀĂůƵĂƚŝŽŶƐĨŽƌďŽƚŚƚŚĞŝƚLJŽĨWƌŝŶĞǀŝůůĞĂŶĚ ƌŽŽŬŽƵŶƚLJǁĞƌĞĚĞĐůŝŶŝŶŐĂĨƚĞƌĂŚŝŐŚŝŶϮϬϬϵͬϭϬ͕ ďƵƚŚĂǀĞŶŽǁƌĞďŽƵŶĚĞĚĂŶĚƐƵƌƉĂƐƐĞĚƚŚĞǀĂůƵĞƐŝŶ ƚŚŽƐĞLJĞĂƌƐ͘ĨƚĞƌƚŚĞƉĂƐƐĂŐĞŽĨDĞĂƐƵƌĞϱϬŝŶϭϵϵϳ͕ KƌĞŐŽŶƚĂdžƌĂƚĞƐǁĞƌĞƉĞŐŐĞĚĂƚϵϬйŽĨϭϵϵϱƌĞĂůŵĂƌͲ ŬĞƚǀĂůƵĞƐ͕ǁŝƚŚĂŶĂůůŽǁĂďůĞϯйŝŶĐƌĞĂƐĞĞĂĐŚLJĞĂƌ͘ EĞǁĚĞǀĞůŽƉŵĞŶƚĂůƐŽĨĂĐƚŽƌƐŝŶƚŽƚŚŝƐƚŚƌĞĞƉĞƌĐĞŶƚ ŝŶĐƌĞĂƐĞĐĂƉƐƵĐŚƚŚĂƚĨĂƐƚĞƌͲŐƌŽǁŝŶŐĐŽŵŵƵŶŝƚŝĞƐĐĂŶ ŚĂǀĞůŽǁĞƌĞĨĨĞĐƚŝǀĞƚĂdžƌĂƚĞƐŽŶĂůůƉƌŽƉĞƌƚLJ͘dŚŝƐ ĐŚĂŶŐĞĨĂĐƚŽƌ͕ĐĂůůĞĚƚŚĞŚĂŶŐĞWƌŽƉĞƌƚLJZĂƚĞ;WZͿ͕ ĂĚũƵƐƚƐĂŶŶƵĂůůLJ͘dŚĞŝƚLJŽĨWƌŝŶĞǀŝůůĞ͛ƐŽǀĞƌĂůůƉƌŽƉĞƌƚLJ ƚĂdžĂƚŝŽŶƌĂƚĞƐŚĂǀĞƌĞŵĂŝŶĞĚǀĞƌLJƐƚĂďůĞŽǀĞƌƚŚĞƉĂƐƚ ĚĞĐĂĚĞ͘

^ŽƵƌĐĞ͗ƌŽŽŬŽƵŶƚLJƐƐĞƐƐŽƌ͕ΎWƌŝŶĞǀŝůůĞƚĂdžƌĂƚĞͲŵŽƐƚĐŽŵŵŽŶ



hƉĚĂƚĞĚϭϬͬϯϭͬϮϬϭϳ



WĂŐĞϳ

ƌŽŽŬŽƵŶƚLJWƌŽĨŝůĞ





‹ŽƉLJƌŝŐŚƚϮϬϭϱK


s>hd/KE^ 

&ŝŶĂŶĐŝĂů/ŶƐƚŝƚƵƚŝŽŶƐ /ŶƌŽŽŬŽƵŶƚLJ͕ƚŚĞƌĞĂƌĞƐĞǀĞŶĨŝŶĂŶĐŝĂůŝŶƐƚŝƚƵƚŝŽŶƐ ;ĨŝǀĞďĂŶŬƐĂŶĚƚǁŽĐƌĞĚŝƚƵŶŝŽŶƐͿ͘/ŶůĂƚĞϮϬϭϮ͕^ĞĂƚƚůĞͲ ďĂƐĞĚtĂƐŚŝŶŐƚŽŶ&ĞĚĞƌĂůĂĐƋƵŝƌĞĚ^ŽƵƚŚsĂůůĞLJĂŶŬΘ dƌƵƐƚĐŽŶǀĞƌƚŝŶŐŝƚƐŽŶĞďƌĂŶĐŚůŽĐĂƚĞĚŝŶƌŽŽŬŽƵŶƚLJ͘ ZĞĐĞŶƚůLJ͕&ŝƌƐƚ/ŶƚĞƌƐƚĂƚĞĂŶŬƉƵƌĐŚĂƐĞĚĂŶŬŽĨƚŚĞ ĂƐĐĂĚĞƐ͘

ĂŶŬƐĂŶĚƌĞĚŝƚhŶŝŽŶƐŝŶƌŽŽŬŽƵŶƚLJ ;ĂƐŽĨ^ĞƉƚ͘ϮϬϭϳͿ &ŝƌƐƚ/ŶƚĞƌƐƚĂƚĞĂŶŬ

^ŽƵƚŚsĂůůĞLJĂŶŬΘdƌƵƐƚ

:WDŽƌŐĂŶŚĂƐĞĂŶŬ

h͘^͘ĂŶŬ

DŝĚKƌĞŐŽŶƌĞĚŝƚhŶŝŽŶ

tĂƐŚŝŶŐƚŽŶ&ĞĚĞƌĂů

KƌĞŐŽŶŝĂŶƐƌĞĚŝƚhŶŝŽŶ

tĞůůƐ&ĂƌŐŽĂŶŬ

^ŽƵƌĐĞƐ͗&/^ƵŵŵĂƌLJŽĨĞƉŽƐŝƚƐ͕KƵƐŝŶĞƐƐZĞƐĞĂƌĐŚϮϬϭϳ



&ŝŶĂŶĐŝĂů/ŶƐƚŝƚƵƚŝŽŶĞƉŽƐŝƚƐŝŶƌŽŽŬŽƵŶƚLJͬĞŶƚƌĂůKƌĞŐŽŶ

ĞƉŽƐŝƚƐ

;ŝŶŵŝůůŝŽŶƐͿ

dŚĞƚŽƚĂůĚĞƉŽƐŝƚďĂƐĞĨŽƌ&/ͲŝŶƐƵƌĞĚŝŶƐƚŝƚƵƚŝŽŶƐĂƐŝŶ ƚŚĞƚƌŝͲĐŽƵŶƚLJƌĞŐŝŽŶǁĂƐΨϯ͘ϰϮϳďŝůůŝŽŶ͘/ŶƌŽŽŬŽƵŶƚLJ͕ ƚŚĞƚŽƚĂůǁĂƐŶĞĂƌůLJΨϮϳϳŵŝůůŝŽŶĂƐŽĨ:ƵŶĞϯϬ͕ϮϬϭϳ͕ƚŚĞ ŵŽƐƚĐƵƌƌĞŶƚĚĂƚĂĂǀĂŝůĂďůĞ͘ 

 hd/KE

ŽƵŶƚLJ

ϮϬϬϴ

ϮϬϭϮ

ϮϬϭϱ

ϮϬϭϳ

й'ƌŽǁƚŚ ϮϬϭϱͲϭϳ

ƌŽŽŬŽƵŶƚLJ

ΨϭϮϯ

ΨϮϲϭ

ΨϮϯϰ

ΨϮϳϳ

ϭϴй

ΨϮ͕ϲϳϴ

Ψϯ͕ϯϳϳ

ϯ͕ϰϮϳ

ϭ͘ϱй

dƌŝͲŽƵŶƚLJdŽƚĂů Ψϭ͕ϯϳϵ

^ŽƵƌĐĞ͗&/^ƵŵŵĂƌLJŽĨĞƉŽƐŝƚƐĂƐŽĨϲͬϯϬĨŽƌĞĂĐŚLJĞĂƌ͘



WƵďůŝĐ^ĐŚŽŽůƐ

^ĐŚŽŽů

ŶƌŽůůŵĞŶƚ

dŚĞƌŽŽŬŽƵŶƚLJ^ĐŚŽŽůŝƐƚƌŝĐƚŽƉĞƌĂƚĞƐĨŝǀĞĞůĞŵĞŶƚĂƌLJƐĐŚŽŽůƐ͕ŽŶĞ WĂƵůŝŶĂ;<ͲϴͿ ĐŚĂƌƚĞƌƐƐĐŚŽŽů;WŽǁĞůůƵƚƚĞͿ͕ŽŶĞŵŝĚĚůĞƐĐŚŽŽů͕ŽŶĞŚŝŐŚƐĐŚŽŽů͕ĂŶĚŽŶĞ WŽǁĞůůƵƚƚĞ;<ͲϴͿŚĂƌƚĞƌ ĂůƚĞƌŶĂƚŝǀĞŚŝŐŚƐĐŚŽŽů͘/ŶDĂLJŽĨϮϬϭϯǀŽƚĞƌƐƉĂƐƐĞĚĂΨϯϬŵŝůůŝŽŶďŽŶĚƚŽ ĂƌŶĞƐƵƚƚĞ;<ͲϱͿ ĐŽŶƐƚƌƵĐƚĂŶĞǁĞůĞŵĞŶƚĂƌLJƐĐŚŽŽůĂŶĚƉƌŽǀŝĚĞƵƉŐƌĂĚĞƐƚŽĞdžŝƐƚŝŶŐŝŶĨƌĂͲ ƌŽŽŬĞĚZŝǀĞƌ;<ͲϱͿ ƐƚƌƵĐƚƵƌĞ͘dŚĞŶĞǁĂƌŶĞƐƵƚƚĞůĞŵĞŶƚĂƌLJŽƉĞŶĞĚŝŶϮϬϭϱ͘ ƌŽƚŚĞƌƐ;<ͲϱͿ  ƌŽŽŬŽƵŶƚLJDŝĚĚůĞ WƌŽǀŝĚŝŶŐĂŶĂůƚĞƌŶĂƚŝǀĞƚŽƐƚĂŶĚĂƌĚƉƵďůŝĐƐĐŚŽŽůĞĚƵĐĂƚŝŽŶ͕ƚŚĞWŽǁĞůů ƌŽŽŬŽƵŶƚLJ,ŝŐŚ ƵƚƚĞŚĂƌƚĞƌ^ĐŚŽŽůŐŝǀĞƐƉĞƌƐŽŶĂůĂŶĚĐŽŵŵƵŶŝƚLJŽƌŝĞŶƚĞĚĞĚƵĐĂƚŝŽŶƚŽ WŝŽŶĞĞƌ,ŝŐŚ^ĐŚŽŽůĂŶĚĂůƚĞƌŶĂƚŝǀĞ ĂƌĞĂĞůĞŵĞŶƚĂƌLJĂŶĚŵŝĚĚůĞƐĐŚŽŽůƐƚƵĚĞŶƚƐ͘dŚĞŚŝŐŚƐĐŚŽŽůŽĨĨĞƌƐĂǀĂͲ ƉƌŽŐƌĂŵƐ ƌŝĞƚLJŽĨĚƵĂůͲĞŶƌŽůůŵĞŶƚĂŶĚWĐŽƵƌƐĞƐƚŚĂƚƉƌŽǀŝĚĞƐƚƵĚĞŶƚƐǁŝƚŚƚŚĞ dŽƚĂůŶƌŽůůŵĞŶƚ ŽƉƉŽƌƚƵŶŝƚLJƚŽĞĂƌŶĐŽůůĞŐĞĐƌĞĚŝƚǁŚŝůĞƐƚŝůůĞŶƌŽůůĞĚŝŶŚŝŐŚƐĐŚŽŽů͘dŚĞ ^ŽƵƌĐĞ͗ƌŽŽŬŽƵŶƚLJ^ĐŚŽŽůŝƐƚƌŝĐƚ ŝƐƚƌŝĐƚĂůƐŽŽĨĨĞƌƐƉƌŽĨĞƐƐŝŽŶĂůƚĞĐŚŶŝĐĂůƉƌŽŐƌĂŵƐ͕ĨŝŶĞĂƌƚƐ͕ĂŶĚĨŽƌĞŝŐŶ ůĂŶŐƵĂŐĞƉƌŽŐƌĂŵƐ͘&ŽƌĂĚĚŝƚŝŽŶĂůŝŶĨŽƌŵĂƚŝŽŶ͕ĐĂůůϱϰϭͲϰϰϳͲϱϲϲϰŽƌǀŝƐŝƚǁǁǁ͘ĐƌŽŽŬĐŽƵŶƚLJ͘ŬϭϮ͘Žƌ͘ƵƐ͘ 

ϮϬ ϭϴϰ ϲϱϯ ϲϮϵ ϴ ϱϴϮ ϳϰϴ ϭϮϮ Ϯϵϯϲ

WƌŝǀĂƚĞ^ĐŚŽŽůƐ

,ŝŐŚĞƐĞƌƚŚƌŝƐƚŝĂŶĐĂĚĞŵLJ;ĨŽƌŵĞƌůLJƌŽŽŬŽƵŶƚLJŚƌŝƐƚŝĂŶ^ĐŚŽŽůͿŝƐĂƉƌŝǀĂƚĞ͕ƉƌĞͲƐĐŚŽŽůƚŚƌƵϴƚŚŐƌĂĚĞŚƌŝƐƚŝĂŶ ^ĐŚŽŽůůŽĐĂƚĞĚŝŶWƌŝŶĞǀŝůůĞ͘,ŝŐŚĞƐĞƌƚŚƌŝƐƚŝĂŶĐĂĚĞŵLJǁĂƐĨŽƵŶĚĞĚŝŶϭϵϵϰ͘&ŽƌŵŽƌĞŝŶĨŽƌŵĂƚŝŽŶ͕ĐĂůůϱϰϭͲϰϭϲͲϬϭϭϰ͘ 

ĞŵĂŶĚĨŽƌ,ŝŐŚĞƌĚƵĐĂƚŝŽŶ

dŚĞƉŽƉƵůĂĐĞŽĨĞŶƚƌĂůKƌĞŐŽŶŚĂƐĂƐƚƌŽŶŐŝŶƚĞƌĞƐƚŝŶƉƵƌƐƵŝŶŐŚŝŐŚĞƌĞĚƵĐĂƚŝŽŶĂŶĚŝŵƉƌŽǀŝŶŐƚŚĞŝƌǀŽĐĂƚŝŽŶĂůƐŬŝůůƐ͘dŚĞůĂƐƚ ƐĞǀĞƌĂůLJĞĂƌƐ͕ĚĞŵĂŶĚĨŽƌŚŝŐŚĞƌĞĚƵĐĂƚŝŽŶŚĂƐďĞĞŶĚƌŝǀĞŶďLJƐĞǀĞƌĂůĨŽƌĐĞƐ͗ĞŶƚƌĂůKƌĞŐŽŶ͛ƐŐƌŽǁŝŶŐƉŽƉƵůĂƚŝŽŶďĂƐĞ͕Ă ƌĞĐŽǀĞƌLJĨƌŽŵƚŚĞŶĂƚŝŽŶĂůĞĐŽŶŽŵŝĐƌĞĐĞƐƐŝŽŶ͕ĂŶĚũŽďƚƌĂŝŶŝŶŐĂŶĚƌĞͲƚƌĂŝŶŝŶŐ͘ĚĚŝƚŝŽŶĂůůLJ͕K^hͲĂƐĐĂĚĞƐĂŵƉƵƐŝƐŐĂŝŶŝŶŐ ŝŶƌĞƉƵƚĂƚŝŽŶ͕ĂƚƚƌĂĐƚŝŶŐŵŽƌĞƐƚƵĚĞŶƚƐ͕ĂŶĚĞdžƉĂŶĚŝŶŐŝƚƐƉƌŽŐƌĂŵŽĨĨĞƌŝŶŐƐ͘  KǁŽƌŬƐŝŶƉĂƌƚŶĞƌƐŚŝƉǁŝƚŚĞŶƚƌĂůKƌĞŐŽŶŽŵŵƵŶŝƚLJŽůůĞŐĞ;KͿĂŶĚK^hͲĂƐĐĂĚĞƐƚŽĞŶƐƵƌĞƚŚĂƚƉƌŽŐƌĂŵŽĨĨĞƌͲ ŝŶŐƐĂůŝŐŶǁŝƚŚďƵƐŝŶĞƐƐŶĞĞĚƐ͘ŽƚŚŝŶƐƚŝƚƵƚŝŽŶƐŚĂǀĞƚŽƉůĞĂĚĞƌƐƚŚĂƚƐĞƌǀĞĂƐŝƌĞĐƚŽƌƐŽŶK͛ƐŽĂƌĚ͘  



hƉĚĂƚĞĚϭϬͬϯϭͬϮϬϭϳ



WĂŐĞϴ

ƌŽŽŬŽƵŶƚLJWƌŽĨŝůĞ





‹ŽƉLJƌŝŐŚƚϮϬϭϱK


ĞŶƚƌĂůKƌĞŐŽŶŽŵŵƵŶŝƚLJŽůůĞŐĞ;KͿ

 ĞŶƚƌĂůKƌĞŐŽŶŽŵŵƵŶŝƚLJŽůůĞŐĞŽƉĞƌĂƚĞƐĐĂŵƉƵƐĞƐŝŶĞŶĚ͕ZĞĚŵŽŶĚ͕DĂĚƌĂƐ͕ĂŶĚWƌŝŶĞǀŝůůĞ͘&ŽƵŶĚĞĚ ŝŶϭϵϰϵ͕K;ǁǁǁ͘ĐŽĐĐ͘ĞĚƵͿŝƐKƌĞŐŽŶ͛ƐĨŝƌƐƚĂŶĚĐŽŶƐĞƋƵĞŶƚůLJŽůĚĞƐƚĐŽŵŵƵŶŝƚLJĐŽůůĞŐĞ͘dŚĞŽůůĞŐĞ ŽĨĨĞƌƐƚǁŽͲLJĞĂƌĂƐƐŽĐŝĂƚĞĚĞŐƌĞĞƐ͕ƚƌĂŶƐĨĞƌͬůŽǁĞƌĚŝǀŝƐŝŽŶƉƌŽŐƌĂŵƐ͕ĐĂƌĞĞƌĂŶĚƚĞĐŚŶŝĐĂůĞĚƵĐĂƚŝŽŶĚĞͲ ŐƌĞĞƐĂŶĚĐĞƌƚŝĨŝĐĂƚĞƐ͕ĚĞǀĞůŽƉŵĞŶƚĂůĐŽƵƌƐĞƐ͕ĐŽŶƚŝŶƵŝŶŐĞĚƵĐĂƚŝŽŶĂŶĚĐŽŵŵƵŶŝƚLJůĞĂƌŶŝŶŐĐůĂƐƐĞƐ͕ ŝŶĚƵƐƚƌLJͲƐƉĞĐŝĨŝĐƚƌĂŝŶŝŶŐƉƌŽŐƌĂŵƐĂŶĚďƵƐŝŶĞƐƐŵĂŶĂŐĞŵĞŶƚĂƐƐŝƐƚĂŶĐĞ͘dŚĞKŝƐƚƌŝĐƚĐŽǀĞƌƐĂ ϭϬ͕ϬϬϬͲƐƋƵĂƌĞͲŵŝůĞĂƌĞĂƚŚĂƚĞŶĐŽŵƉĂƐƐĞƐĂůůŽĨƌŽŽŬ͕ĞƐĐŚƵƚĞƐ͕ĂŶĚ:ĞĨĨĞƌƐŽŶĐŽƵŶƚŝĞƐ͕ƚŚĞƐŽƵƚŚĞƌŶ ƉĂƌƚŽĨtĂƐĐŽ͕ĂŶĚƚŚĞŶŽƌƚŚĞƌŶƉŽƌƚŝŽŶƐŽĨ<ůĂŵĂƚŚĂŶĚ>ĂŬĞŽƵŶƚŝĞƐ͘ƐĞǀĞŶͲŵĞŵďĞƌďŽĂƌĚŽĨĚŝƌĞĐͲ ƚŽƌƐŐŽǀĞƌŶƐƚŚĞŽůůĞŐĞ͕ǁŝƚŚŵĞŵďĞƌƐŽĨƚŚĂƚďŽĂƌĚĞůĞĐƚĞĚĨƌŽŵŐĞŽŐƌĂƉŚŝĐnjŽŶĞƐŝŶƚŚĞŝƐƚƌŝĐƚ͘  dŚĞϮϬϭͲĂĐƌĞĞŶĚĐĂŵƉƵƐŝŶĐůƵĚĞƐϮϲďƵŝůĚŝŶŐƐǁŝƚŚĂƚŽƚĂůŽĨ ϱϳϱ͕ϬϬϬƐƋƵĂƌĞĨĞĞƚƵŶĚĞƌƌŽŽĨ͘dŚĞŶĞǁĞƐƚďƵŝůĚŝŶŐƐĂƌĞƚŚĞ :ƵŶŐĞƌƐƵůŝŶĂƌLJĞŶƚĞƌ͕ĨƵŶĚĞĚƉƌŝŵĂƌŝůLJďLJƉƌŝǀĂƚĞĚŽŶĂƚŝŽŶƐĂŶĚ ŽƉĞŶĞĚŝŶϮϬϭϭ͖ĂŶĚƚŚĞ,ĞĂůƚŚĂƌĞĞƌƐĞŶƚĞƌĂŶĚ^ĐŝĞŶĐĞĞŶƚĞƌ͕ ĨƵŶĚĞĚďLJĂǀŽƚĞƌͲĂƉƉƌŽǀĞĚďŽŶĚŵĞĂƐƵƌĞĂŶĚŽƉĞŶĞĚŝŶĨĂůůϮϬϭϮ ͘ dŚĞ^ŵĂůůƵƐŝŶĞƐƐĞǀĞůŽƉŵĞŶƚĞŶƚĞƌ;^ͿŽƉĞƌĂƚĞĚďLJK ƉƌŽǀŝĚĞƐĂĐƚŝǀĞƐƵƉƉŽƌƚĨŽƌĞŶƚƌĂůKƌĞŐŽŶ͛ƐƐŵĂůůďƵƐŝŶĞƐƐĞƐ͘^ ƉƌŽǀŝĚĞƐƉƌŽŐƌĂŵƐƐƵĐŚĂƐĐŽƵŶƐĞůŝŶŐĂŶĚŵĂƌŬĞƚƌĞƐĞĂƌĐŚĂƐƐŝƐͲ ƚĂŶĐĞĨŽƌĞŶƚƌĞƉƌĞŶĞƵƌƐĂƚƚŚĞĞĂƌůŝĞƐƚƐƚĂŐĞƐŽĨĚĞǀĞůŽƉŵĞŶƚ͘ K͛ƐŽŶƚŝŶƵŝŶŐĚƵĐĂƚŝŽŶĚĞƉĂƌƚŵĞŶƚĚĞůŝǀĞƌƐŝŶĚƵƐƚƌLJͲƐƉĞĐŝĨŝĐ ĐŽƵƌƐĞƐĂŶĚǁŽƌŬƐŚŽƉƐƚĂŝůŽƌĞĚƚŽďƵƐŝŶĞƐƐĂŶĚŝŶĚƵƐƚƌLJ͛ƐĐŚĂŶŐŝŶŐ ŶĞĞĚƐ͘dŚĞŽůůĞŐĞĂůƐŽŽĨĨĞƌƐĂǁŝĚĞƌĂŶŐĞŽĨĐŽŶƚŝŶƵŝŶŐĞĚƵĐĂƚŝŽŶĨŽƌƉĞƌƐŽŶĂůĂŶĚƉƌŽĨĞƐƐŝŽŶĂůĚĞǀĞůŽƉŵĞŶƚ͘  K͛ƐƵƐŝŶĞƐƐĂŶĚŵƉůŽLJĞĞĞǀĞůŽƉŵĞŶƚĚĞƉĂƌƚŵĞŶƚĚĞůŝǀĞƌƐŝŶĚƵƐƚƌLJͲƐƉĞĐŝĨŝĐĐŽƵƌƐĞƐĂŶĚǁŽƌŬƐŚŽƉƐƚĂŝůŽƌĞĚƚŽďƵƐŝͲ ŶĞƐƐĂŶĚŝŶĚƵƐƚƌLJ͛ƐĐŚĂŶŐŝŶŐŶĞĞĚƐ͘dŚĞŽůůĞŐĞĂůƐŽŽĨĨĞƌƐĂǁŝĚĞƌĂŶŐĞŽĨĐŽŶƚŝŶƵŝŶŐĞĚƵĐĂƚŝŽŶĨŽƌƉĞƌƐŽŶĂůĂŶĚƉƌŽĨĞƐƐŝŽŶͲ ĂůĚĞǀĞůŽƉŵĞŶƚ͘  dŚĞKZĞĚŵŽŶĚĂŵƉƵƐƐŝƚƐŽŶϮϱͲĂĐƌĞƐŶĞĂƌƚŚĞZĞĚŵŽŶĚŝƌƉŽƌƚĂŶĚŝŶĐůƵĚĞƐĨŽƵƌďƵŝůĚŝŶŐƐƚŽƐĞƌǀĞƐƚƵĚĞŶƚƐǁŝƚŚĂ ǀĂƌŝĞƚLJŽĨĐĂƌĞĞƌƉƌŽŐƌĂŵƐ͕ĞĚƵĐĂƚŝŽŶĂůŽƉƉŽƌƚƵŶŝƚŝĞƐ͕ĂŶĚƚƌĂŶƐĨĞƌĞůŝŐŝďůĞĐůĂƐƐĞƐ͘dŚŝƐƉĂƐƚLJĞĂƌ͕ĂƉƉƌŽdžŝŵĂƚĞůLJϮ͕ϰϬϬƐƚƵͲ ĚĞŶƚƐĞŶƌŽůůĞĚŝŶŽŶĞŽƌŵŽƌĞĐƌĞĚŝƚĐůĂƐƐĞƐŝŶZĞĚŵŽŶĚ͘/ŶĂĚĚŝƚŝŽŶƚŽƚŚĞǁŝĚĞƌĂŶŐĞŽĨƐĞƌǀŝĐĞƐĂŶĚĐŽůůĞŐĞĐŽƵƌƐĞƐŽĨĨĞƌĞĚ ƚŽƐƚƵĚĞŶƚƐ͕K͛ƐZĞĚŵŽŶĚĂŵƉƵƐŝƐŚŽŵĞƚŽƚŚĞƌĞŐŝŽŶ͛ƐDĂŶƵĨĂĐƚƵƌŝŶŐĂŶĚƉƉůŝĞĚdĞĐŚŶŽůŽŐLJĞŶƚĞƌ͕ĂϮϲ͕ϬϬϬͲ ƐƋƵĂƌĞͲĨŽŽƚƚĞĐŚŶŝĐĂůƚƌĂŝŶŝŶŐĨĂĐŝůŝƚLJǁŝƚŚĐĞƌƚŝĨŝĐĂƚĞĂŶĚĚĞŐƌĞĞƉƌŽŐƌĂŵƐƌĞĂĚLJŝŶŐƐƚƵĚĞŶƚƐĨŽƌũŽďƐŝŶƚŚĞŵĂŶƵĨĂĐƚƵƌŝŶŐ ĨŝĞůĚ͘ZĞĚŵŽŶĚŝƐĂůƐŽŚŽŵĞƚŽK͛ƐsĞƚĞƌŝŶĂƌLJdĞĐŚŶŝĐŝĂŶƉƌŽŐƌĂŵ͘  dŚĞKƌĞŐŝŽŶĂůdĞĐŚŶŽůŽŐLJĚƵĐĂƚŝŽŶĞŶƚĞƌŽĨĨĞƌƐĐůĂƐƐĞƐ ĨŽƌĞŶƚƌĂůKƌĞŐŽŶ͛ƐďƵƐŝŶĞƐƐĂŶĚǁŽƌŬĨŽƌĐĞƉŽƉƵůĂƚŝŽŶĂƚƚŚĞ ZĞĚŵŽŶĚĂŵƉƵƐ͘dŚŝƐϯϰ͕ϬϬϬͲƐƋƵĂƌĞͲĨŽŽƚĨĂĐŝůŝƚLJ͕ƉůĂŶŶĞĚĂŶĚ ĚĞǀĞůŽƉĞĚǁŝƚŚŝŶĚƵƐƚƌLJƉĂƌƚŝĐŝƉĂƚŝŽŶ͕ŝƐŚŽŵĞƚŽĂƚǁŽͲLJĞĂƌĚĞͲ ŐƌĞĞŽƉƚŝŽŶŝŶƵƚŽŵŽƚŝǀĞdĞĐŚŶŽůŽŐLJŝŶůĞĐƚƌŽŶŝĐƐĂŶĚŝĂŐͲ ŶŽƐƚŝĐƐ;dͿ͘&ŽƌŵŽƌĞŝŶĨŽƌŵĂƚŝŽŶ͗ǁǁǁ͘ĐŽĐĐ͘ĞĚƵͬƌĞĚŵŽŶĚŽƌ ϱϰϭͲϱϬϰͲϮϵϬϬ͘ KdĞĐŚŶŽůŽŐLJĚƵĐĂƚŝŽŶĞŶƚĞƌŝŶZĞĚŵŽŶĚ  ŶƌŽůůŵĞŶƚĂƚKŚĂƐŝŶĐƌĞĂƐĞĚĚƌĂŵĂƚŝĐĂůůLJŽǀĞƌƚŚĞLJĞĂƌƐ͕ĚŽƵďůŝŶŐŝŶƚŚĞůĂƐƚĨĞǁLJĞĂƌƐĂƐŝŶĐƌĞĂƐŝŶŐŶƵŵďĞƌƐŽĨĂƌĞĂ ƌĞƐŝĚĞŶƚƐƚƵƌŶĞĚƚŽƚŚĞŽůůĞŐĞĨŽƌĞĚƵĐĂƚŝŽŶĂŶĚƚƌĂŝŶŝŶŐĂĨƚĞƌƚŚĞĞĐŽŶŽŵŝĐĚŽǁŶƚƵƌŶ͘ƌĞĐŽƌĚŶƵŵďĞƌŽĨƐƚƵĚĞŶƚƐŚĂǀĞ ďĞĞŶĞĂƌŶŝŶŐĐĞƌƚŝĨŝĐĂƚĞƐĂŶĚĚĞŐƌĞĞƐ͕ƚŚĞŶƚƌĂŶƐĨĞƌƌŝŶŐƚŽĨŽƵƌͲLJĞĂƌĐŽůůĞŐĞƐĂŶĚƵŶŝǀĞƌƐŝƚŝĞƐŽƌŵŽǀŝŶŐŝŶƚŽũŽďƐůŽĐĂůůLJƵƐŝŶŐ ƐŬŝůůƐůĞĂƌŶĞĚŝŶƚŚĞĐĂƌĞĞƌĂŶĚƚĞĐŚŶŝĐĂůĞĚƵĐĂƚŝŽŶƉƌŽŐƌĂŵƐ͘



KƉĞŶĂŵƉƵƐʹƌŽŽŬŽƵŶƚLJ dŚĞKƌŽŽŬŽƵŶƚLJKƉĞŶĂŵƉƵƐďĞŐĂŶĂƐĂĐŽůůĂďŽƌĂƚŝǀĞƉĂƌƚŶĞƌƐŚŝƉďĞƚǁĞĞŶƌŽŽŬŽƵŶƚLJ͕K͕ĂŶĚK^hKƉĞŶ ĂŵƉƵƐͲƌŽŽŬŽƵŶƚLJ͘dŚĞĐĂŵƉƵƐŝƐŶŽǁŽƉĞƌĂƚĞĚďLJKĂŶĚŽĨĨĞƌƐĐŽƵƌƐĞƐŝŶƵƐŝŶĞƐƐ͕ŐĞŶĞƌĂůĞĚƵĐĂƚŝŽŶƌĞƋƵŝƌĞŵĞŶƚƐ ůĞĂĚŝŶŐƚŽƚŚĞKd͕'ƉƌĞƉĂƌĂƚŝŽŶ͕ĂŶĚĂǁŝĚĞƌĂŶŐĞŽĨƉĞƌƐŽŶĂůĞŶƌŝĐŚŵĞŶƚĂĐƚŝǀŝƚŝĞƐ͘KƉĞŶĞĚŝŶϮϬϭϭ͕ƚŚĞĐĂŵƉƵƐǁĂƐ ĨƵŶĚĞĚďLJĂĞƉĂƌƚŵĞŶƚŽĨ>ĂďŽƌŐƌĂŶƚƚŽƌŽŽŬŽƵŶƚLJĂŶĚĂďŽŶĚŵĞĂƐƵƌĞĨŽƌKƉĂƐƐĞĚďLJůŽĐĂůǀŽƚĞƌƐ͘/ƚŝƐďƵŝůƚŽŶ ůĂŶĚĚŽŶĂƚĞĚďLJƌŽŽŬŽƵŶƚLJ͘&ŽƌŵŽƌĞŝŶĨŽƌŵĂƚŝŽŶ͗ŚƚƚƉ͗ͬͬǁǁǁ͘ĐŽĐĐ͘ĞĚƵͬƉƌŝŶĞǀŝůůĞ



hƉĚĂƚĞĚϭϬͬϯϭͬϮϬϭϳ



WĂŐĞϵ

ƌŽŽŬŽƵŶƚLJWƌŽĨŝůĞ





‹ŽƉLJƌŝŐŚƚϮϬϭϱK


KƌĞŐŽŶ^ƚĂƚĞhŶŝǀĞƌƐŝƚLJʹĂƐĐĂĚĞƐ 

tŝƚŚĂĐĂŵƉƵƐƐŽŶĞǁƚŚĞƉĂŝŶƚŝƐƐƚŝůůĚƌLJŝŶŐ͕ƚŚĞŝƌĨŝƌƐƚϭ͕ϮϬϬƐƚƵĚĞŶƚƐ͕ ϯ͕ϬϬϬĂůƵŵŶŝ͕ĂŶĚĐŽŵŵƵŶŝƚLJƐƵƉƉŽƌƚĞƌƐĂƌĞƌĞĂůŝnjŝŶŐĂϯϬͲLJĞĂƌ͕ŐƌĂƐƐƌŽŽƚƐ ĞĨĨŽƌƚƚŽďƌŝŶŐĂĨŽƵƌͲLJĞĂƌƵŶŝǀĞƌƐŝƚLJƚŽĞŶƚƌĂůKƌĞŐŽŶ͘ K^hͲĂƐĐĂĚĞƐŽƉĞŶĞĚŝƚƐϭϬͲĂĐƌĞĐĂŵƉƵƐŝŶĞŶĚĂƚƚŚĞƐƚĂƌƚŽĨƚŚĞĨĂůů ƚĞƌŵŝŶϮϬϭϲ͘>ŽĐĂƚĞĚŝŶƚŚĞŚĞĂƌƚŽĨĞŶƚƌĂůKƌĞŐŽŶ͕ĂǀĂƐƚŶĂƚƵƌĂůůĂďŽƌĂƚŽƌLJ͕K^hͲĂƐĐĂĚĞƐŽĨĨĞƌƐϭϲƵŶĚĞƌŐƌĂĚƵĂƚĞĂŶĚ ĨŽƵƌŐƌĂĚƵĂƚĞĚĞŐƌĞĞƐ͕ŝŶĐůƵĚŝŶŐƐŝŐŶĂƚƵƌĞƉƌŽŐƌĂŵƐŝŶĞŶĞƌŐLJƐLJƐƚĞŵƐĞŶŐŝŶĞĞƌŝŶŐ͕ƚŽƵƌŝƐŵĂŶĚŽƵƚĚŽŽƌůĞĂĚĞƌƐŚŝƉ͕ĂŶĚ ŚŽƐƉŝƚĂůŝƚLJŵĂŶĂŐĞŵĞŶƚ͘ dŚĞŶĞƌŐLJ^LJƐƚĞŵƐŶŐŝŶĞĞƌŝŶŐDĂŶĂŐĞŵĞŶƚƉƌŽŐƌĂŵŝƐƵŶŝƋƵĞŝŶƚŚĞƐƚĂƚĞ͕ƉƌĞƉĂƌŝŶŐŐƌĂĚƵĂƚĞƐĨŽƌĂďƌŽĂĚƌĂŶŐĞŽĨĐĂͲ ƌĞĞƌƐŝŶƚŚĞĞŶĞƌŐLJŝŶĚƵƐƚƌLJ͘dŚĞŽŵƉƵƚĞƌ^ĐŝĞŶĐĞĚĞŐƌĞĞǁĂƐĚĞǀĞůŽƉĞĚǁŝƚŚĐŽŶƐŝĚĞƌĂďůĞŝŶĚƵƐƚƌLJŝŶƉƵƚĨƌŽŵŵĂŶLJŽĨƚŚĞ ƌĞŐŝŽŶ͛ƐƐŽĨƚǁĂƌĞĨŝƌŵƐ͘K^hͲĂƐĐĂĚĞƐŝƐŶŽǁŽĨĨĞƌŝŶŐĂŶĞdžĞĐƵƚŝǀĞůĞĂĚĞƌƐŚŝƉ DƉƌŽŐƌĂŵƚŚƌŽƵŐŚK^h͛ƐŽůůĞŐĞŽĨƵƐŝŶĞƐƐ͘dŚĞDƚĂŬĞƐĂďŽƵƚƚǁŽ LJĞĂƌƐĂŶĚŝƐĚĞůŝǀĞƌĞĚŝŶĂŚLJďƌŝĚĨŽƌŵĂƚ͕ďůĞŶĚŝŶŐĨĂĐĞͲƚŽͲĨĂĐĞǁŝƚŚŽŶůŝŶĞƐĞƐͲ ƐŝŽŶƐĂŶĚŝƐĚĞƐŝŐŶĞĚĨŽƌďƵƐLJƉƌŽĨĞƐƐŝŽŶĂůƐ͘dŚĞƵŶŝǀĞƌƐŝƚLJĂůƐŽĂŝŵƐƚŽůĂƵŶĐŚ ĂĚĚŝƚŝŽŶĂůDƉƌŽŐƌĂŵƐ͘  K^hͲĂƐĐĂĚĞƐ͛ĞŶƌŽůůŵĞŶƚŝƐƐůĂƚĞĚƚŽŐƌŽǁƚŽϯ͕ϬϬϬƚŽϱ͕ϬϬϬƐƚƵĚĞŶƚƐďLJϮϬϮϱ ƚŽŵĞĞƚƐƚĂƚĞĞĚƵĐĂƚŝŽŶĂůĂƚƚĂŝŶŵĞŶƚŐŽĂůƐ͕dŚĞĐĂŵƉƵƐǁŝůůƐĞƌǀĞƐƚƵĚĞŶƚƐ ĨƌŽŵĞŶƚƌĂůKƌĞŐŽŶ͕ĂƐǁĞůůĂƐKƌĞŐŽŶ͕ƚŚĞh͘^͕͘ĂŶĚŝŶƚĞƌŶĂƚŝŽŶĂůĚĞƐƚŝŶĂͲ ƚŝŽŶƐ͘ 

 hd/>/d/^^Zs/E'ZKK<KhEdz DŽŶƚŚůLJ^ĞǁĞƌZĂƚĞƐŝŶƌŽŽŬŽƵŶƚLJ ůĂƐƐŝĨŝĐĂƚŝŽŶ ZĞƐŝĚĞŶƚŝĂů 'ĞŶĞƌĂů^ĞƌǀŝĐĞ >ĂƌŐĞŽŵŵĞƌĐŝĂů

^ŽƵƌĐĞ͗ŝƚLJŽĨWƌŝŶĞǀŝůůĞ

^ĞǁĞƌZĂƚĞƐ



DŽŶƚŚůLJ EĞǁhƐĞƌ ^ĞǁĞƌƌĂƚĞƐĂƌĞĚĞƚĞƌŵŝŶĞĚďLJŵĂũŽƌĐůĂƐƐŝĨŝĐĂƚŝŽŶ͖ŝŶĚƵƐƚƌŝĂůƵƐĞƌƐƐŚŽƵůĚĐŽŶͲ &ŝdžĞĚZĂƚĞ ĞƉŽƐŝƚͬ&ĞĞ ƚĂĐƚKĂƐƌĂƚĞƐǀĂƌLJďLJĐĂƐĞ͘EŽƚĞƚŚĂƚWŽǁĞůůƵƚƚĞ͕:ƵŶŝƉĞƌĂŶLJŽŶ͕ĂŶĚ Ψϱϯ͘ϳϯ ΨϭϬϬ ƚŚĞŽƚŚĞƌƵŶŝŶĐŽƌƉŽƌĂƚĞĚĂƌĞĂƐŽĨƌŽŽŬŽƵŶƚLJĂƌĞĚĞƉĞŶĚĞŶƚŽŶǁĞůůǁĂƚĞƌ Ψϱϯ͘ϳϯ ΨϭϬϬ ĂŶĚƐĞƉƚŝĐƐLJƐƚĞŵƐ͘&ŽƌŝŶĨŽƌŵĂƚŝŽŶ͕ĐŽŶƚĂĐƚƌŽŽŬŽƵŶƚLJŶǀŝƌŽŶŵĞŶƚĂů Ψϭϯϭ͘ϰϳΎ ΨϭϬϬ

tĂƚĞƌ^LJƐƚĞŵΘZĂƚĞƐ

,ĞĂůƚŚĞƉƚ͘ĂƚϱϰϭͲϰϰϳͲϴϭϱϱ͘





dŚĞŝƚLJŽĨWƌŝŶĞǀŝůůĞtĂƚĞƌ^LJƐƚĞŵĐŽŶƐŝƐƚƐŽĨϭϮĚĞĞƉǁĞůůƐǁŝƚŚĂƚŽƚĂůƉƵŵƉŝŶŐ ĐĂƉĂĐŝƚLJŽĨϱ͘ϲŵŝůůŝŽŶŐĂůůŽŶƐƉĞƌĚĂLJŽĨĚŽŵĞƐƚŝĐǁĂƚĞƌ͘dŚĞŝƚLJŚĂƐƐŝdžƐƚŽƌĂŐĞ ƚĂŶŬƐǁŝƚŚĂƚŽƚĂůĐĂƉĂĐŝƚLJŽĨϱ͘ϱŵŝůůŝŽŶŐĂůůŽŶƐ͘dŚĞƌĞĂƌĞĐƵƌƌĞŶƚůLJĂďŽƵƚϰ͕ϬϬϬ ǁĂƚĞƌƐĞƌǀŝĐĞĐŽŶŶĞĐƚŝŽŶƐŽĨǁŚŝĐŚϴϱйĂƌĞƌĞƐŝĚĞŶƚŝĂů͘dŚĞŵŽŶƚŚůLJƌĂƚĞŝŶĐůƵĚĞƐ ĂĨŝdžĞĚĐŚĂƌŐĞďĂƐĞĚŽŶŵĞƚĞƌƐŝnjĞƉĞƌŵŽŶƚŚ͘&ŝƌƐƚƚŝŵĞƌĞƐŝĚĞŶƚŝĂůĂŶĚĐŽŵŵĞƌͲ ĐŝĂůĐƵƐƚŽŵĞƌƐĂƌĞĐŚĂƌŐĞĚĂĚĞƉŽƐŝƚŽĨΨϰϬ͘ϬϬ͘ŽŵŵĞƌĐŝĂůĂŶĚŝŶĚƵƐƚƌŝĂůĐƵƐƚŽŵͲ ĞƌƐƉĂLJƚŚĞĂĐƚƵĂůĐŽƐƚŽĨƚŚĞŵĞƚĞƌ͕ŝŶĂĚĚŝƚŝŽŶƚŽƚŚĞǁĂƚĞƌĐŽŶŶĞĐƚŝŽŶĨĞĞ͘ 





EĂƚƵƌĂů'ĂƐ

DŽŶƚŚůLJtĂƚĞƌZĂƚĞƐŝŶƌŽŽŬŽƵŶƚLJ

DĞƚĞƌ в͟ ϭ͟ ϭЪ͟ Ϯ͟ ϯ͟ ϰ͟ ϲ͟

ZĞƐŝĚĞŶƚŝĂů ŽŵŵĞƌĐŝĂů Ψϭϴ͘Ϯϲ ΨϮϳ͘ϴϭ ΨϮϭ͘ϴϱ Ψϯϰ͘ϭϱ Ψϯϴ͘ϭϮ ΨϴϬ͘ϮϮ Ψϱϴ͘ϵϵ Ψϭϭϵ͘ϭϰ Ψϴϭ͘Ϭϭ ΨϮϮϮ͘ϯϳ Ψϵϱ͘Ϯϵ Ψϯϳϯ͘Ϯϳ ΨϭϴϮ͘ϲϳ Ψϲϵϴ͘ϴϰ ^ŽƵƌĐĞ͗ŝƚLJŽĨWƌŝŶĞǀŝůůĞ



EĂƚƵƌĂů'ĂƐZĂƚĞƐ EĂƚƵƌĂůŐĂƐŝƐǁŝĚĞůLJĂǀĂŝůĂďůĞƚŚƌŽƵŐŚŽƵƚĞŶƚƌĂůKƌĞŐŽŶĂŶĚŝƐ ĞůŝǀĞƌLJŚĂƌŐĞͬ ƐƵƉƉůŝĞĚďLJĂƐĐĂĚĞEĂƚƵƌĂů'ĂƐŽƌƉŽƌĂƚŝŽŶ;E'͖ϴϴϴͲϱϮϮͲ ĂƐĞ ŽƐƚͬ hƐĞƌ dŚĞƌŵ ŚĂƌŐĞ dŚĞƌŵ ϭϭϯϬͿ͘,ĞĂĚƋƵĂƌƚĞƌĞĚŝŶ<ĞŶŶĞǁŝĐŬtĂƐŚŝŶŐƚŽŶ͕E'ƐĞƌǀĞƐ ŵŽƌĞƚŚĂŶϰϲ͕ϬϬϬůŽĐĂůŝŶĚƵƐƚƌŝĂů͕ĐŽŵŵĞƌĐŝĂůĂŶĚƌĞƐŝĚĞŶƚŝĂůĐƵƐͲ ŽŵŵĞƌĐŝĂů Ψϰ͘ϬϬ ΨϬ͘ϲϮϰ ΨϬ͘ϮϲϮ ƚŽŵĞƌƐĨƌŽŵĂƌĞŐŝŽŶĂůŽƉĞƌĂƚŝŽŶƐďĂƐĞŝŶĞŶĚ͘ /ŶĚƵƐƚƌŝĂů ΨϭϮ͘ϬϬ ΨϬ͘ϱϱϯ ΨϬ͘ϮϬϲ  >ĂƌŐĞsŽůƵŵĞʹ'ĞŶĞƌĂůΎ /ŶĐůƵĚĞĚ ΨϬ͘ϱϭϯ ΨϬ͘ϭϲϲ WŽƚĞŶƚŝĂůƵƐĞƌƐĨŽƌƚŚĞ>ĂƌŐĞsŽůƵŵĞʹ'ĞŶĞƌĂů^ĞƌǀŝĐĞƌĂƚĞƐŚŽƵůĚ ΎZĞƋƵŝƌĞƐƐƉĞĐŝĨŝĐĐŽŶƚƌĂĐƚĂŶĚƵƐĂŐĞĐŽŶĚŝƚŝŽŶƐ͖ϭƚŚĞƌŵсϭ͕ϬϬϬ dhƐ͘^ŽƵƌĐĞ͗ǁǁǁ͘ĐŶŐĐ͘ĐŽŵ&Ğď͘ϮϬϭϳ ĐŽŶƚĂĐƚKĨŽƌĂĚĚŝƚŝŽŶĂůŝŶĨŽƌŵĂƚŝŽŶĂďŽƵƚƚŚĞŝƌƉŽƚĞŶƚŝĂůƵƐͲ ĂŐĞĐŽŶĚŝƚŝŽŶƐ͘dƌĂŶƐŵŝƐƐŝŽŶƚŽƚŚĞƌĞŐŝŽŶŝƐƉƌŽǀŝĚĞĚďLJϯϲĂŶĚϰϮͲŝŶĐŚŚŝŐŚĐĂƉĂĐŝƚLJůŝŶĞƐƚŚĂƚƌƵŶĨƌŽŵĂŶĂĚĂƚŽƐŽƵƚŚĞƌŶ ĂůŝĨŽƌŶŝĂ͘



hƉĚĂƚĞĚϭϬͬϯϭͬϮϬϭϳ



WĂŐĞϭϬ

ƌŽŽŬŽƵŶƚLJWƌŽĨŝůĞ





‹ŽƉLJƌŝŐŚƚϮϬϭϱK


ůĞĐƚƌŝĐŽŵƉĂŶŝĞƐ

ǀĞƌĂŐĞϮϬϭϲůĞĐƚƌŝĐŝƚLJZĂƚĞƐ ;ŝŶĐĞŶƚƐ͕ƉĞƌŬtŚͿ



ƒWĂĐŝĨŝĐWŽǁĞƌ;WW>Ϳ͕ϴϴϴͲϮϮϭͲϳϬϳϬ ƒĞŶƚƌĂůůĞĐƚƌŝĐŽŽƉĞƌĂƚŝǀĞ;Ϳ͕ϱϰϭͲϱϰϴͲϮϭϰϰ

^ĞƌǀŝĐĞůĂƐƐ /ŶĚƵƐƚƌŝĂů ŽŵŵĞƌĐŝĂů

 &ŽƌĂůůƐĞĐƚŽƌƐ͕KƌĞŐŽŶ͛ƐĞůĞĐƚƌŝĐĂůƌĂƚĞƐĂƌĞǁĞůůďĞůŽǁƚŚĞŶĂƚŝŽŶĂůĂǀĞƌĂŐĞ͘ &ŽƌŝŶĚƵƐƚƌŝĂůĐƵƐƚŽŵĞƌƐ͕ĞŶƚƌĂůKƌĞŐŽŶƉƌŽǀŝĚĞƌƐŽĨĨĞƌƌĂƚĞƐƵƉƚŽŶĞĂƌůLJ ϭϲйďĞůŽǁƚŚĞh͘^͘ĂǀĞƌĂŐĞĂŶĚŽǀĞƌϱϬйďĞůŽǁƚŚŽƐĞŝŶŶĞŝŐŚďŽƌŝŶŐĂůŝĨŽƌͲ

h͘^͘ ϲ͘ϳϱ ϭϬ͘ϯϳ

 ϭϮ͘Ϭϳ ϭϱ͘ϭϱ

KZ ϲ͘ϭϲ ϴ͘ϴϳ

^ŽƵƌĐĞ͗h͘^͘ŶĞƌŐLJ/ŶĨŽƌŵĂƚŝŽŶĚŵŝŶŝƐƚƌĂƚŝŽŶDĂƌĐŚ ϮϬϭϳĚĂƚĂ͘

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ŝƚLJ

^ƚĂƚĞ DŝůĞƐ

ZĞĚŵŽŶĚ DĂĚƌĂƐ ĞŶĚ WŽƌƚůĂŶĚ ^ĞĂƚƚůĞ ŽŝƐĞ ^ĂŶ&ƌĂŶĐŝƐĐŽ >ŽƐŶŐĞůĞƐ

^ŽƵƌĐĞ͗DĂƉYƵĞƐƚ

KZ KZ KZ KZ t /  

ƌŝǀĞdŝŵĞ ,ŽƵƌƐ DŝŶƵƚĞƐ

ϭϳ ϬŚŽƵƌƐ ϯϬ ϬŚŽƵƌƐ ϯϲ ϬŚŽƵƌƐ ϭϰϱ ϯŚŽƵƌƐ ϯϭϭ ϱŚŽƵƌƐ ϯϮϯ ϲŚŽƵƌƐ ϱϬϳ ϵŚŽƵƌƐ ϴϯϴ ϭϯŚŽƵƌƐ

ϮϬŵŝŶƵƚĞƐ ϯϵŵŝŶƵƚĞƐ ϰϳŵŝŶƵƚĞƐ ϯŵŝŶƵƚĞƐ ϰϮŵŝŶƵƚĞƐ ϯϯŵŝŶƵƚĞƐ ϬŵŝŶƵƚĞƐ ϰϴŵŝŶƵƚĞƐ

 ŽŵŵƵƚĞƚŝŵĞƐ ǀĞƌĂŐŝŶŐũƵƐƚϮϬŵŝŶƵƚĞƐ͕ĚƌŝǀĞƚŝŵĞƐŝŶĞŶƚƌĂůKƌĞŐŽŶĂƌĞǀĞƌLJŵĂŶͲ ĂŐĞĂďůĞ͘tŝƚŚĂƚƌƵůLJƌĞŐŝŽŶĂůǁŽƌŬĨŽƌĐĞ͕ŝƚŝƐŶŽƚƵŶƵƐƵĂůĨŽƌƌĞƐŝĚĞŶƚƐƚŽ ĚƌŝǀĞĨƌŽŵDĂĚƌĂƐ͕ZĞĚŵŽŶĚ͕ŽƌĞŶĚƚŽWƌŝŶĞǀŝůůĞĨŽƌǁŽƌŬŽƌǀŝĐĞǀĞƌƐĂ͘  EĞǁƌĞƐŝĚĞŶƚƐƚĞŶĚƚŽƐĞůĞĐƚƚŚĞŝƌĚĞƐŝƌĞĚĐŽŵŵƵŶŝƚLJďĂƐĞĚŽŶŝƚƐůŝĨĞͲ ƐƚLJůĞĂŶĚĐŽƐƚ͕ĂŶĚƚŚĞŶĨŝŶĚǁŽƌŬŝŶƚŚĞƌĞŐŝŽŶ͘tŚŝůĞĂǀĞƌĂŐĞĚƌŝǀĞƚŝŵĞ ŝƐƐůŝŐŚƚůLJůŽŶŐĞƌĨŽƌƌŽŽŬŽƵŶƚLJƌĞƐŝĚĞŶƚƐ;ƵŶĚĞƌƐƚĂŶĚĂďůĞŐŝǀĞŶƚŚĞŝƌ ŵŽƌĞƌƵƌĂůŶĂƚƵƌĞͿ͕ƚŚĞĐŽŵŵƵƚĞĨŽƌƚŚŽƐĞǁŚŽůŝǀĞĂŶĚǁŽƌŬŝŶWƌŝŶĞǀŝůůĞ ŝƐŶĞŐůŝŐŝďůĞ͘

    dZE^WKZdd/KE  DŽƚŽƌ&ƌĞŝŐŚƚ

WƌŝŶĞǀŝůůĞŝƐƐĞƌǀĞĚďLJƚǁŽƐƚĂƚĞŚŝŐŚǁĂLJƐǁŚŝĐŚŝŶƚĞƌƐĞĐƚĂƚƚŚĞŝƚLJ͛ƐǁĞƐƚĞŶƚƌĂŶĐĞ͘,ǁLJϮϲƉƌŽǀŝĚĞƐĂĐƌŝƚŝĐĂůǁĞƐƚͲĞĂƐƚůŝŶŬ ďĞƚǁĞĞŶWƌŝŶĞǀŝůůĞĂŶĚWŽƌƚůĂŶĚǁŚŝůĞ,ŝŐŚǁĂLJϭϮϲĐŽŶŶĞĐƚƐWƌŝŶĞǀŝůůĞƚŽZĞĚŵŽŶĚ͕ƚŚĞZĞĚŵŽŶĚŝƌƉŽƌƚ͕ĂŶĚƚŚĞ,ǁLJϵϳ ĐŽƌƌŝĚŽƌ͘WƌŝŶĞǀŝůůĞĂůƐŽŚĂƐĂŚŝŐŚĐŽŶĐĞŶƚƌĂƚŝŽŶŽĨƚƌƵĐŬŝŶŐĐŽŵƉĂŶŝĞƐ͕ǁŝƚŚĂƚŽƚĂůŽĨƐĞǀĞŶƐĞƌǀŝŶŐĞŶƚƌĂůKƌĞŐŽŶĂŶĚďĞͲ LJŽŶĚ͘



hƉĚĂƚĞĚϭϬͬϯϭͬϮϬϭϳ



WĂŐĞϭϮ

ƌŽŽŬŽƵŶƚLJWƌŽĨŝůĞ





‹ŽƉLJƌŝŐŚƚϮϬϭϱK


 ŽŵŵĞƌĐŝĂůŝƌΘ&ƌĞŝŐŚƚ^ĞƌǀŝĐĞƐ

 ZĞĚŵŽŶĚDƵŶŝĐŝƉĂůŝƌƉŽƌƚ;ZD͖ǁǁǁ͘ĨůLJƌĚŵ͘ĐŽŵͿƉƌŽǀŝĚĞƐĐŽŵŵĞƌĐŝĂůĂŝƌƐĞƌǀŝĐĞǁŝƚŚϮϯĨůŝŐŚƚƐĚĂŝůLJƚŽĞŶǀĞƌ͕>ŽƐŶŐĞůĞƐ͕ WŽƌƚůĂŶĚ͕^Ăůƚ>ĂŬĞŝƚLJ͕^ĂŶ&ƌĂŶĐŝƐĐŽ͕ĂŶĚ^ĞĂƚƚůĞǀŝĂĨŽƵƌĐĂƌƌŝĞƌƐ;ůĂƐŬĂ͕ŵĞƌŝĐĂŶ͕ĞůƚĂ͕ĂŶĚhŶŝƚĞĚͿ͘ŽŶƐŝĚĞƌĂďůĞŝŶǀĞƐƚͲ ŵĞŶƚŚĂƐďĞĞŶŵĂĚĞĂƚZDŝŶƌĞĐĞŶƚLJĞĂƌƐŝŶĐůƵĚŝŶŐĂΨϰϬŵŝůůŝŽŶƚĞƌŵŝŶĂůĞdžƉĂŶƐŝŽŶ͕ĞdžƉĂŶĚĞĚƉĂƐƐĞŶŐĞƌƉĂƌŬŝŶŐ;ƚŽŽǀĞƌ ϭ͕ϬϬϬƉůĂĐĞƐͿĂŶĚƚĂƌŵĂĐĂŶĚƌƵŶǁĂLJƌĞĐŽŶƐƚƌƵĐƚŝŽŶ͘ 

dŚĞŝƌƉŽƌƚŝƐŚŽŵĞƚŽƚŚĞh^&ŽƌĞƐƚ^ĞƌǀŝĐĞZĞĚŵŽŶĚŝƌĞŶƚĞƌ͕ĂƐĐĂĚĞǀŝĂƚŝŽŶDĂŶĂŐĞŵĞŶƚ͕>ŝĨĞ&ůŝŐŚƚ͕ƵƚůĞƌǀŝĂͲ ƚŝŽŶ͕>ĞƐ^ĐŚǁĂď͕ŽŶŶĞǀŝůůĞWŽǁĞƌ͕ZŶƚĞƌƉƌŝƐĞƐ͕>ĂŶĐĂŝƌ͕ĂŶĚ,ĞŶĚĞƌƐŽŶǀŝĂƚŝŽŶ͘ZDĂůƐŽƉƌŽǀŝĚĞƐĂŝƌĐĂƌŐŽƐĞƌǀŝĐĞƐ ĂŶĚŚŽƐƚƐŐĞŶĞƌĂůĂǀŝĂƚŝŽŶƚƌĂĨĨŝĐ͕ŝŶĐůƵĚŝŶŐĞdžƚĞŶƐŝǀĞĐŽƌƉŽƌĂƚĞĂŶĚďƵƐŝŶĞƐƐƚƌĂǀĞů͘&ĞĚdž͕hŶŝƚĞĚWĂƌĐĞů^ĞƌǀŝĐĞ͕ĂŶĚƚŚĞh^W^ ƉƌŽǀŝĚĞĂŝƌĨƌĞŝŐŚƚĂŶĚƉĂĐŬĂŐĞĞdžƉƌĞƐƐƐĞƌǀŝĐĞƐ͘ 



'ĞŶĞƌĂůǀŝĂƚŝŽŶ

dŚĞWƌŝŶĞǀŝůůĞͬƌŽŽŬŽƵŶƚLJŝƌƉŽƌƚŝƐůŽĐĂƚĞĚƚŚƌĞĞŵŝůĞƐƐŽƵƚŚǁĞƐƚŽĨƚŚĞĐŝƚLJ͘WƌŝŶĞǀŝůůĞŚĂƐƚǁŽǁĞůůͲŵĂŝŶƚĂŝŶĞĚ͕ůŝŐŚƚĞĚ͕ ŝŶƚĞƌƐĞĐƚŝŶŐĂƐƉŚĂůƚƌƵŶǁĂLJƐƚŚĂƚĂƌĞĂďůĞƚŽĂĐĐŽŵŵŽĚĂƚĞƐŵĂůůĂŝƌĐƌĂĨƚĂŶĚĐŽƌƉŽƌĂƚĞũĞƚƐ͘dŚĞƉƌŝŵĂƌLJƌƵŶǁĂLJŝƐϱ͕ϳϱϭ ĨĞĞƚŝŶůĞŶŐƚŚ͕ϳϱǁŝĚĞ͕ĂŶĚĞƋƵŝƉƉĞĚǁŝƚŚ'W^ŝŶƐƚƌƵŵĞŶƚĂƉƉƌŽĂĐŚĞƐ͘dŚĞĐƌŽƐƐǁŝŶĚƌƵŶǁĂLJŝƐϰ͕ϬϱϰĨĞĞƚůŽŶŐĂŶĚϰϬĨĞĞƚ ǁŝĚĞ͘dŚĞƚĞƌŵŝŶĂůŝƐŽƉĞŶϳĚĂLJƐĂǁĞĞŬ͕ϴĂŵͲϱƉŵ͘WŝůŽƚƐŚĂǀĞϮϰͲŚŽƵƌĂĐĐĞƐƐƚŽƌĞƐƚƌŽŽŵƐ͕ƐŶĂĐŬƐ͕ĂŶĚĂĨůŝŐŚƚƉůĂŶŶŝŶŐƌŽŽŵ ǁŝƚŚĐŽŵƉƵƚĞƌĂŶĚtŝͲ&ŝĂĐĐĞƐƐ͘^ĞƌǀŝĐĞƐŝŶĐůƵĚĞĨƵĞů;:ĞƚͲΘϭϬϬ>>Ϳ͕ƉĂƌŬŝŶŐ;ƚŝĞĚŽǁŶƐͿ͕ůŽƵŶŐĞͬƉůĂŶŶŝŶŐƌŽŽŵ͕ďĂƚŚƌŽŽŵƐ ǁŝƚŚƐŚŽǁĞƌŝŶůĂĚŝĞƐƌŽŽŵ͕ĐŽƵƌƚĞƐLJĐĂƌƐ͕ĂŶĚƚǁŽŽŶͲĨŝĞůĚŵĂŝŶƚĞŶĂŶĐĞĨĂĐŝůŝƚŝĞƐǁŝƚŚĨůŝŐŚƚŝŶƐƚƌƵĐƚŝŽŶ͘ dŚĞƌĞĂƌĞĐƵƌƌĞŶƚůLJĞŝŐŚƚďƵƐŝŶĞƐƐĞƐŽƉĞƌĂƚŝŶŐĂƚƚŚĞĂŝƌƉŽƌƚŝŶĐůƵĚŝŶŐƌŝĐŬƐŽŶŝƌƌĂŶĞĂŶĚ,ŝůůƐďŽƌŽǀŝĂƚŝŽŶ͘/Ŷ&ĞďƌƵĂƌLJ ϮϬϭϯ͕,ŝůůƐďŽƌŽǀŝĂƚŝŽŶďĞŐĂŶƵƐŝŶŐƚŚĞWƌŝŶĞǀŝůůĞͬƌŽŽŬŽƵŶƚLJĂŝƌƉŽƌƚĂƐĂĨůŝŐŚƚƚƌĂŝŶŝŶŐĐĞŶƚĞƌĨŽƌŝŶƚĞƌŶĂƚŝŽŶĂůƐƚƵĚĞŶƚƐ͘ ,ŝůůƐďŽƌŽƉŝĐŬĞĚWƌŝŶĞǀŝůůĞďĞĐĂƵƐĞŽĨƚŚĞĨĂǀŽƌĂďůĞǁĞĂƚŚĞƌĐŽŶĚŝƚŝŽŶƐĂŶĚƐĞƌǀŝĐĞƐƚŚĞĂŝƌƉŽƌƚĂŶĚĐŽŵŵƵŶŝƚLJƉƌŽǀŝĚĞ͘dŚĞƐĞ ƉƌŝŵĂƌLJĨůŝŐŚƚƐƚƵĚĞŶƚƐƵƐĞƚŚĞĂŝƌƉŽƌƚƚŽŐĂŝŶĞdžƉĞƌŝĞŶĐĞĨůLJŝŶŐĨŝdžĞĚǁŝŶŐĂŝƌĐƌĂĨƚĂŶĚŚĞůŝĐŽƉƚĞƌƐ͘ 

ZĂŝů^ĞƌǀŝĐĞƐ

 dŚĞŝƚLJŽĨWƌŝŶĞǀŝůůĞZĂŝůǁĂLJŝƐĂĐƵƐƚŽŵĞƌͲŽƌŝĞŶƚĞĚƐŚŽƌƚůŝŶĞƌĂŝůƌŽĂĚǁŚŝĐŚĚŝƌĞĐƚůLJďĞŶĞĨŝƚƐĞŶƚƌĂůKƌĞŐŽŶŝŶĚƵƐƚƌŝĞƐĂŶĚ ŽĨĨĞƌƐĐŽŶŶĞĐƚŝŽŶƐǁŝƚŚďŽƚŚƚŚĞƵƌůŝŶŐƚŽŶEŽƌƚŚĞƌŶͲ^ĂŶƚĂ&ĞĂŶĚhŶŝŽŶWĂĐŝĨŝĐƌĂŝůƌŽĂĚƐĂƚWƌŝŶĞǀŝůůĞ:ƵŶĐƚŝŽŶŝŶZĞĚŵŽŶĚ͕ KƌĞŐŽŶ͘ďƵůŬƚƌĂŶƐͲůŽĂĚĨĂĐŝůŝƚLJ͕ůŽĐĂƚĞĚŽŶϭϭĂĐƌĞƐĂĚũĂĐĞŶƚƚŽƚŚĞƌĂŝůǁĂLJŶĞĂƌZĞĚŵŽŶĚ͕ŝƐĐĂƉĂďůĞŽĨƚƌĂŶƐĨĞƌƌŝŶŐǀĂƌŝͲ ŽƵƐƉƌŽĚƵĐƚƐďĞƚǁĞĞŶƌĂŝůĂŶĚŚŝŐŚǁĂLJƚƌĂŶƐƉŽƌƚĂƚŝŽŶŵŽĚĞƐ͘dŚĞĨĂĐŝůŝƚLJŝƐĂďůĞƚŽĂĐĐŽŵŵŽĚĂƚĞĂŐŐƌĞŐĂƚĞƐ͕ƐĂŶĚ͕ĐĞŵĞŶƚ͕ ůŝƋƵŝĚƐ͕ŐƌĂŝŶ͕ĂŶĚĂǀĂƌŝĞƚLJŽĨŽƚŚĞƌďƵůŬĐŽŵŵŽĚŝƚŝĞƐ͘  &ŽƵƌǁĂƌĞŚŽƵƐĞďƵŝůĚŝŶŐƐĂƚƚŚĞZĂŝůǁĂLJ͛Ɛ&ƌĞŝŐŚƚĞƉŽƚ͕ƌĂŶŐŝŶŐŝŶƐŝnjĞĨƌŽŵϮϬ͕ϬϬϬƚŽϲϰ͕ϬϬϬ^&͕ĂƌĞĂǀĂŝůĂďůĞĨŽƌƉƌŽĚƵĐƚƐƚŽƌͲ ĂŐĞĂŶĚũƵƐƚͲŝŶͲƚŝŵĞĚĞůŝǀĞƌLJƐĞƌǀŝĐĞ͘>ĂƌŐĞƌǁĂƌĞŚŽƵƐĞƐĂƌĞƌĂŝůƐĞƌǀĞĚ͕ƐĞĐƵƌĞĂŶĚƐƉƌŝŶŬůĞƌĞĚ͕ĂŶĚĂƌĞƐĞƚƵƉǁŝƚŚďŽdžĐĂƌĚŽĐŬƐ ĨŽƌĨůĂƚĐĂƌŽƌŐŽŶĚŽůĂƵƐĞ͘KŶĞŶĞǁǁĂƌĞŚŽƵƐĞƉƌŽǀŝĚĞƐŝŶƐŝĚĞƌĂŝůĐĂƌůŽĂĚŝŶŐĂŶĚƵŶůŽĂĚŝŶŐǁŝƚŚĂŶŽǀĞƌͲƚŚĞͲƚƌĂĐŬŚŝŐŚĐĂƉĂĐŝƚLJ ďƌŝĚŐĞĐƌĂŶĞ͘ŽƚŚŶĞǁǁĂƌĞŚŽƵƐĞƐĂƌĞĚĞƐŝŐŶĞĚĨŽƌĚƌŝǀĞͲƚŚƌƵƐĞƌǀŝĐĞĂŶĚŽĨĨĞƌĐŽŶǀĞŶƚŝŽŶĂůƚƌƵĐŬĚŽĐŬƐƚŽĂĐĐŽŵŵŽĚĂƚĞĚƌLJ ǀĂŶƐ͘ĚĚŝƚŝŽŶĂůůĂŶĚŝƐĂǀĂŝůĂďůĞĨŽƌůĞĂƐĞƚŽĐŽŵƉĂŶŝĞƐŶĞĞĚŝŶŐĂĐĐĞƐƐƚŽƌĂŝůƚƌĂŶƐƉŽƌƚĂƚŝŽŶ͘



hƉĚĂƚĞĚϭϬͬϯϭͬϮϬϭϳ



WĂŐĞϭϯ

ƌŽŽŬŽƵŶƚLJWƌŽĨŝůĞ





‹ŽƉLJƌŝŐŚƚϮϬϭϱK


dKWK'ZW,zΘ>/Dd

 ƌŽŽŬŽƵŶƚLJĞŶũŽLJƐƚŚĞĚƌLJĐůŝŵĂƚĞŽĨƚŚĞŚŝŐŚĚĞƐĞƌƚ͘^ƵŶŶLJĚĂLJƐ͕ůŽǁŚƵŵŝĚŝƚLJ ĂŶĚĐŽŽůŶŝŐŚƚƐƚLJƉŝĨLJƚŚĞƐĞŵŝͲĂƌŝĚĐůŝŵĂƚĞŝŶƚŚĞŚŝŐŚĚĞƐĞƌƚ͘dĞŵƉĞƌĂƚƵƌĞƐĐĂŶ ǀĂƌLJϯϬƚŽϰϬĚĞŐƌĞĞƐŽǀĞƌƚŚĞĐŽƵƌƐĞŽĨĂĚĂLJ͘WƌŝŶĞǀŝůůĞŝƐĂƚϮ͕ϴϲϴ͛ďƵƚĞůĞǀĂͲ ƚŝŽŶƐƌĂŶŐĞƵƉƚŽϲ͕ϵϮϲ͛Ăƚ>ŽŽŬŽƵƚDŽƵŶƚĂŝŶŝŶƚŚĞKĐŚŽĐŽƐ͘  >ŝŬĞĂůůŽĨKƌĞŐŽŶĞĂƐƚŽĨƚŚĞĂƐĐĂĚĞƐ͕ƌŽŽŬŽƵŶƚLJΖƐǁĞĂƚŚĞƌŝƐĐŚĂƌĂĐƚĞƌͲ ŝnjĞĚŐĞŶĞƌĂůůLJďLJďƌŝŐŚƚƐƵŶƐŚŝŶĞ͕ŚŽƚĚĂLJƐĂŶĚĐŽŽůŶŝŐŚƚƐŝŶƚŚĞƐƵŵŵĞƌ͕ ĂŶĚƐƵŶŶLJĚĂLJƐĂŶĚĐŽŽůƚŽĐŽůĚƚĞŵƉĞƌĂƚƵƌĞƐŝŶƚŚĞǁŝŶƚĞƌ͘^ƵŵŵĞƌƚĞŵͲ ƉĞƌĂƚƵƌĞƐĂƌĞƚLJƉŝĐĂůůLJŝŶƚŚĞŵŝĚͲϴϬƐ;&ĂŚƌĞŶŚĞŝƚͿǁŝƚŚůŽǁƐŝŶƚŚĞϰϬƐ͘ tŝŶƚĞƌƚĞŵƉĞƌĂƚƵƌĞƐƌĂŶŐĞĨƌŽŵŚŝŐŚƐŝŶƚŚĞϰϬƐƚŽůŽǁƐŝŶƚŚĞϮϬƐ͘ 



 ǀĞƌĂŐĞ,ŝŐŚ;Σ&Ϳ ǀĞƌĂŐĞ>Žǁ;Σ&Ϳ ǀĞƌĂŐĞWƌĞĐŝƉŝƚĂƚŝŽŶ;ŝŶĐŚĞƐͿ йŚĂŶĐĞŽĨ^ƵŶƐŚŝŶĞ ^ŽƵƌĐĞ͗,ŽŵĞĨĂĐƚƐ͘ĐŽŵ

:ĂŶ ϰϮΣ ϮϭΣ ϭ͘ϭ ϰϭ͘ϵ

tĞĂƚŚĞƌWƌŽĨŝůĞĨŽƌWƌŝŶĞǀŝůůĞ͕KƌĞŐŽŶ

&Ğď ϰϴΣ ϮϰΣ ϭ͘Ϭ ϰϭ͘ϰ

DĂƌ ϱϱΣ ϮϱΣ ϭ͘Ϭ ϰϭ͘ϵ

Ɖƌ ϲϭΣ ϮϴΣ Ϭ͘ϴ ϱϬ͘Ϭ

DĂLJ ϲϵΣ ϯϰΣ ϭ͘ϭ ϲϭ͘ϯ

:ƵŶ ϳϳΣ ϰϬΣ Ϭ͘ϴ ϳϬ͘Ϭ

:Ƶů ϴϲΣ ϰϯΣ Ϭ͘ϲ ϴϯ͘ϵ

ƵŐ ϴϲΣ ϰϮΣ Ϭ͘ϱ ϵϬ͘ϯ

^ĞƉ ϳϴΣ ϯϱΣ Ϭ͘ϰ ϴϬ͘Ϭ

KĐƚ ϲϲΣ ϮϵΣ Ϭ͘ϴ ϲϭ͘ϯ

EŽǀ ϰϵΣ ϮϱΣ ϭ͘ϯ ϰϯ͘ϯ

ĞĐ ϰϵΣ ϮϭΣ ϭ͘Ϯ ϰϬ͘Ϭ

 WZ<^ΘZZd/KE 

/ŶĂĚĚŝƚŝŽŶƚŽŵĂŝŶƚĂŝŶŝŶŐϭϬƉĂƌŬƐĂŶĚĞŝŐŚƚďĂůůĨŝĞůĚƐĐŽǀĞƌŝŶŐŽǀĞƌϭϬϬĂĐƌĞƐŽĨŽƉĞŶƐƉĂĐĞ͕ƌŽŽŬŽƵŶƚLJWĂƌŬƐĂŶĚ ZĞĐƌĞĂƚŝŽŶŝƐƚƌŝĐƚĂůƐŽĐŽŽƌĚŝŶĂƚĞƐĚŽnjĞŶƐŽĨƌĞĐƌĞĂƚŝŽŶƉƌŽŐƌĂŵƐĂŶĚƐƉĞĐŝĂůĞǀĞŶƚƐƚŚƌŽƵŐŚŽƵƚƚŚĞLJĞĂƌ͘dŚĞĚŝƐƚƌŝĐƚŽƉͲ ĞƌĂƚĞƐĂŶĚŵĂŝŶƚĂŝŶƐĂƐĐĞŶŝĐϮ͘ϱͲŵŝůĞǁĂůŬŝŶŐƉĂƚŚƚŚĂƚƌƵŶƐƚŚƌŽƵŐŚƚŚĞĐĞŶƚĞƌŽĨƚŽǁŶĂŶĚKĐŚŽĐŽƌĞĞŬWĂƌŬ͘KƚŚĞƌ ĂŵĞŶŝƚŝĞƐŝŶĐůƵĚĞĂƐǁŝŵŵŝŶŐƉŽŽů͕ƐŬĂƚŝŶŐƌŝŶŬ͕ƐŬĂƚĞƉĂƌŬ͕ZsƉĂƌŬ͕ĐĂŵƉŐƌŽƵŶĚ͕ĂĐŽŵŵƵŶŝƚLJŐĂƌĚĞŶ͕ĂŶĚƚǁŽĚŽŐ ƉĂƌŬƐ͘sŝƐŝƚǁǁǁ͘ĐĐƉƌĚ͘ŽƌŐŽƌĐĂůůϱϰϭͲϰϰϳͲϭϮϬϵ͘  WƌŝŶĞǀŝůůĞZĞƐĞƌǀŽŝƌ^ƚĂƚĞWĂƌŬ͕ĂdŽƉϭϬKƌĞŐŽŶĂƚƚƌĂĐƚŝŽŶĨŽƌǁĂƚĞƌƌĞĐƌĞĂƚŝŽŶ͕ǁĞůĐŽŵĞƐǀŝƐŝƚŽƌƐǁŚŽǁĂŶƚƚŽďŽĂƚ͕Ɛǁŝŵ͕ ĨŝƐŚŽƌũƵƐƚƉŝĐŶŝĐŽƌĐĂŵƉĂƚƚŚĞZĞƐĞƌǀŽŝƌ͘KĐŚŽĐŽZĞƐĞƌǀŽŝƌĂůƐŽŽĨĨĞƌƐĐĂŵƉŝŶŐĂŶĚĨŝƐŚŝŶŐƐŝdžŵŝůĞƐŽƵƚŽĨWƌŝŶĞǀŝůůĞ͘:ƵƐƚ ŵŝŶƵƚĞƐĨƌŽŵWƌŝŶĞǀŝůůĞ͕ƚŚĞ>ŽǁĞƌƌŽŽŬĞĚZŝǀĞƌŚĂƐďĞĞŶĚĞƐŝŐŶĂƚĞĚĂƐŽŶĞŽĨƚŚĞ>DΖƐEĂƚŝŽŶĂůtŝůĚĂŶĚ^ĐĞŶŝĐZŝǀĞƌƐ͘ dŚĞƌŽŽŬĞĚZŝǀĞƌZŽƵŶĚƵƉZŽĚĞŽ͕ŽŶĞŽĨƚŚĞƚŽƉϭϬϬWZƌŽĚĞŽĞǀĞŶƚƐŝŶƚŚĞŶĂƚŝŽŶ͕ŝƐŚĞůĚĞĂĐŚ:ƵŶĞ͘  DŽĚĞƌĂƚĞǁĞĂƚŚĞƌŝŶƌŽŽŬŽƵŶƚLJŵĂŬĞƐŐŽůĨǀŝĂďůĞŶĞĂƌůLJLJĞĂƌƌŽƵŶĚ͘dŚĞƌĞĂƌĞƚŚƌĞĞŐŽůĨĐŽƵƌƐĞƐŝŶƚŚĞŽƵŶƚLJĂŶĚĂŶͲ ŽƚŚĞƌϮϯǁŝƚŚŝŶƚŚĞŐƌĞĂƚĞƌĞŶƚƌĂůKƌĞŐŽŶĂƌĞĂ͘DĞĂĚŽǁ>ĂŬĞƐŝƐĂƉŽƉƵůĂƌƉƵďůŝĐĐŽƵƌƐĞŝŶWƌŝŶĞǀŝůůĞ͕ƌĂƐĂĚĂZĂŶĐŚďŽĂƐƚƐ ĂƉƌŝǀĂƚĞW'ĚĞƐŝŐŶĞĚĐŽƵƌƐĞ͕ĂŶĚWƌŝŶĞǀŝůůĞ'ŽůĨΘŽƵŶƚƌLJůƵď͕ůŽĐĂƚĞĚĞĂƐƚŽĨƚŽǁŶ͕ŝƐĂůƐŽƉƌŝǀĂƚĞ͘ ƌĂƐĂĚĂZĂŶĐŚŝƐƌŽŽŬŽƵŶƚLJ͛ƐƉƌĞŵŝĞƌĚĞƐƚŝŶĂƚŝŽŶƌĞƐŽƌƚ͘tŝƚŚĂƉĂŶŽƌĂŵŝĐǀŝĞǁŽĨƚŚĞĂƐĐĂĚĞDŽƵŶƚĂŝŶƐ͕ƚŚĞϭ͕ϴϬϬͲĂĐƌĞ ĚĞǀĞůŽƉŵĞŶƚĨĞĂƚƵƌĞƐŚŽŵĞƐŝƚĞƐ͕ůŽĚŐŝŶŐ͕ĂŶĞǀĞŶƚƐďƵŝůĚŝŶŐ͕ĂƌĞĐƌĞĂƚŝŽŶĨĂĐŝůŝƚLJǁŝƚŚĂŶŽƵƚĚŽŽƌƉŽŽů͕ĂŶĚĂŶĞƋƵĞƐƚƌŝĂŶ ĐĞŶƚĞƌ͘

 h^/E^^Z^KhZ^ 

ƵƐŝŶĞƐƐZĞƐŽƵƌĐĞƐŝŶƌŽŽŬŽƵŶƚLJ

ŝƚLJŽĨWƌŝŶĞǀŝůůĞ ǁǁǁ͘ĐŝƚLJŽĨƉƌŝŶĞǀŝůůĞ͘ĐŽŵ ϱϰϭͲϰϰϳͲϱϲϮϳ ϯϴϳEϯƌĚ^ƚƌĞĞƚ͕WƌŝŶĞǀŝůůĞ͕KZϵϳϳϱϰ

KƌĞŐŽŶŵƉůŽLJŵĞŶƚĞƉĂƌƚŵĞŶƚ;KͿ ǁǁǁ͘ĞŵƉůŽLJŵĞŶƚ͘ŽƌĞŐŽŶ͘ŐŽǀ ϱϰϭͲϰϰϳͲϴϬϳϲ ϮϯϮϭEϯƌĚ^ƚƌĞĞƚ͕WƌŝŶĞǀŝůůĞ͕KZϵϳϳϱϰ

WƌŝŶĞǀŝůůĞͬƌŽŽŬŽƵŶƚLJŚĂŵďĞƌŽĨŽŵŵĞƌĐĞ ǁǁǁ͘ǀŝƐŝƚƉƌŝŶĞǀŝůůĞ͘ĐŽŵ ϱϰϭͲϰϰϳͲϲϯϬϰ ϭϬϮEtϮŶĚ^ƚƌĞĞƚ͕WƌŝŶĞǀŝůůĞ͕KZϵϳϳϱϰ

ƌŽŽŬŽƵŶƚLJ ǁǁǁ͘ĐŽ͘ĐƌŽŽŬ͘Žƌ͘ƵƐ ϱϰϭͲϰϰϳͲϲϱϱϱ ϯϬϬEϯƌĚ^ƚƌĞĞƚ͕WƌŝŶĞǀŝůůĞ͕KZϵϳϳϱϰ

tŽƌŬ^ŽƵƌĐĞKƌĞŐŽŶ ǁǁǁ͘ǁŽƌŬƐŽƵƌĐĞŽƌĞŐŽŶ͘ŽƌŐ ϱϰϭͲϰϰϳͲϯϭϭϵ ϮϯϮϭEϯƌĚ^ƚƌĞĞƚ͕WƌŝŶĞǀŝůůĞ͕KZϵϳϳϱϰ

ĞŶƚƌĂůKƌĞŐŽŶ/ŶƚĞƌŐŽǀĞƌŶŵĞŶƚĂůŽƵŶĐŝů ;K/Ϳ ǁǁǁ͘ĐŽŝĐ͘ŽƌŐ ϱϰϭͲϱϰϴͲϴϭϲϯ Ϯϯϲϯ^t'ůĂĐŝĞƌWůĂĐĞ͕ZĞĚŵŽŶĚ͕KZϵϳϳϱϲ

DŝĚKƌĞŐŽŶWĞƌƐŽŶŶĞů ǁǁǁ͘ŵŝĚŽƌĞŐŽŶƉĞƌƐŽŶŶĞů͘ĐŽŵ ϱϰϭͲϰϰϳͲϭϮϵϵ ϭϴϳEt^ĞĐŽŶĚ^ƚƌĞĞƚ͕WƌŝŶĞǀŝůůĞ͕KZϵϳϳϱϰ

^ŵĂůůƵƐŝŶĞƐƐĞǀĞůŽƉŵĞŶƚĞŶƚĞƌ;^Ϳ ǁǁǁ͘ďŝnjĐĞŶƚĞƌ͘ŽƌŐ ϱϰϭͲϯϴϯͲϳϮϵϬ ϮϲϬϬEtŽůůĞŐĞtĂLJ͕ĞŶĚ͕KZϵϳϳϬϭ

ĞŶƚƌĂůKƌĞŐŽŶŝĂŶ ǁǁǁ͘ĐĞŶƚƌĂůŽƌĞŐŽŶŝĂŶ͘ĐŽŵ ϱϰϭͲϰϰϳͲϲϮϬϱ ϱϱϴE͘DĂŝŶ^ƚƌĞĞƚ͕WƌŝŶĞǀŝůůĞ͕KZϵϳϳϱϰ





hƉĚĂƚĞĚϭϬͬϯϭͬϮϬϭϳ



WĂŐĞϭϰ

ƌŽŽŬŽƵŶƚLJWƌŽĨŝůĞ





‹ŽƉLJƌŝŐŚƚϮϬϭϱK


EdZ>KZ'KE͛^EdZWZEhZ/>>E^W 

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KhdK 

ĞŶƚƌĂůKƌĞŐŽŶƵƐŝŶĞƐƐĞŐŝŶƐǁŝƚŚK &ŽƵŶĚĞĚŝŶϭϵϴϭ͕KŝƐĂŶŽŶͲƉƌŽĨŝƚĐŽƌƉŽƌĂƚŝŽŶƐƵƉƉŽƌƚĞĚďLJƉƌŝǀĂƚĞĂŶĚƉƵďůŝĐŵĞŵďĞƌƐĂŶĚƐƚĂŬĞŚŽůĚĞƌƐ͘KƵƌŵŝƐƐŝŽŶŝƐƚŽ ĐƌĞĂƚĞĂĚŝǀĞƌƐŝĨŝĞĚůŽĐĂůĞĐŽŶŽŵLJĂŶĚĂƐƚƌŽŶŐďĂƐĞŽĨŵŝĚĚůĞͲĐůĂƐƐũŽďƐŝŶĞŶƚƌĂůKƌĞŐŽŶ͘tĞŐƵŝĚĞĞŵƉůŽLJĞƌƐŽƵƚƐŝĚĞƚŚĞƌĞͲ ŐŝŽŶƚŚƌŽƵŐŚƚŚĞƌĞůŽĐĂƚŝŽŶƉƌŽĐĞƐƐĂƐĂƌĞƐŽƵƌĐĞĨŽƌƌĞŐŝŽŶĂůĚĂƚĂ͕ŝŶĐĞŶƚŝǀĞƐ͕ƚĂůĞŶƚ͕ƐŝƚĞƐĞůĞĐƚŝŽŶ͕ĂŶĚŵŽƌĞ͘tĞŵĞŶƚŽƌĂŶĚ ĂĚǀŝƐĞƐĐĂůĂďůĞLJŽƵŶŐĐŽŵƉĂŶŝĞƐĨƌŽŵĐŽŶĐĞƉƚƚŽĞdžŝƚŽŶŝƐƐƵĞƐƐƵĐŚĂƐĂĐĐĞƐƐƚŽĐĂƉŝƚĂů͕ĐƌŝƚŝĐĂůĞdžƉĞƌƚŝƐĞ͕ĂŶĚƐƚƌĂƚĞŐLJ͘tĞŚĞůƉ ůŽĐĂůƚƌĂĚĞĚͲƐĞĐƚŽƌĐŽŵƉĂŶŝĞƐĞdžƉĂŶĚďLJĨŝŶĚŝŶŐƐƵƉƉůŝĞƌƐ͕ǁŽƌŬĨŽƌĐĞƐŽƵƌĐŝŶŐ͕ƉĞƌŵŝƚƚŝŶŐ͕ĂŶĚŝŶĐĞŶƚŝǀĞƐ͘



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&ŝƌƐƚ/ŶƚĞƌƐƚĂƚĞĂŶŬ DŝĚKƌĞŐŽŶWĞƌƐŽŶŶĞů DŝŬĞDŽŚĂŶ͕W KĐŚŽĐŽ>ƵŵďĞƌ E/ĂƐĐĂĚĞ WĂĐŝĨŝĐWŽǁĞƌ 

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ĂƌŽůŝŶĞƌǀŝŶ͕ŝƌĞĐƚŽƌ WƌŝŶĞǀŝůůĞͬƌŽŽŬŽƵŶƚLJĐŽŶŽŵŝĐĞǀĞůŽƉŵĞŶƚ ϱϭϬ^>LJŶŶůǀĚ͕͘WƌŝŶĞǀŝůůĞ͕KZϵϳϳϱϰ WŚŽŶĞ͗ϱϰϭͲϮϯϯͲϮϬϭϱͮ&Ădž͗ϱϰϭͲϮϯϯͲϮϬϭϱ ĂƌŽůŝŶĞΛĞĚĐŽŝŶĨŽ͘ĐŽŵͮǁǁǁ͘ĞĚĐŽŝŶĨŽ͘ĐŽŵ

ĐŽŶŽŵŝĐĞǀĞůŽƉŵĞŶƚĨŽƌĞŶƚƌĂůKƌĞŐŽŶ;KͿ ϳϬϱ^tŽŶŶĞƚƚtĂLJ͕^ƵŝƚĞϭϬϬϬ ĞŶĚ͕KZϵϳϳϬϮ WŚŽŶĞ͗ϱϰϭͲϯϴϴͲϯϮϯϲͮϴϬϬͲϯϰϮͲϰϭϯϱ ǁǁǁ͘ĞĚĐŽŝŶĨŽ͘ĐŽŵ





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IMPORTANT NUMBERS CABLE COMPANY Bend Broadband – New Service ....................................................... 541-948-4988 Bend Broadband – Other Business .................................................. 541-382-5551 CHAMBER OF COMMERCE Bend ................................................................................................. 541-382-3221 CITY SERVICES Development Services/Building Division ......................................... 541-388-5528 Current Planning/Zoning .................................................................. 541-388-5580 Police (non-emergency) ................................................................... 541-388-0170

CENTRAL OREGON OFFICES Bend, Downtown 15 Oregon Ave Bend, OR 97703 541-389-7711

Bend, South

COUNTY SERVICES Human Services................................................................................ 541-388-6601 Library .............................................................................................. 541-388-6677 Sheriff (non-emergency) .................................................................. 541-388-0170

345 SE 3rd St Bend, OR 97702 541-389-9176

MEDIA The Bulletin ...................................................................................... 541-382-1811 Cascade Business News ................................................................... 541-388-5665 The Source Weekly .......................................................................... 541-383-0800 Picture Your Home ........................................................................... 541-385-5808 Homes & Land .................................................................................. 541-383-2834

Bend, Old Mill 354 SW Upper Terrace Dr, Ste. 104

MEDICAL St. Charles Medical Center ............................................................... 541-382-4321 Bend Memorial Clinic ....................................................................... 541-382-2811 SCHOOLS Bend-La Pine School District ............................................................ 541-383-6004 Sunriver Prep School ........................................................................ 541-318-9020 RECREATION Bend Park & Recreation District ...................................................... 541-389-7275 RECYCLING Bend Recycle Team .......................................................................... 541-388-3638 REFUSE Bend Garbage & Recycling ............................................................... 541-382-2263 Cascade Disposal .............................................................................. 541-382-6660 Knott Landfill .................................................................................... 541-383-4388 TAXES City Tax Info ..................................................................................... 541-388-5581 County Tax Info ................................................................................ 541-388-6540 State Tax Info ................................................................................... 503-378-4988 Federal Tax Info ............................................................................... 800-829-1040 UTILITIES Pacific Power .................................................................................... 888-221-7070 Central Electric Co-op ...................................................................... 541-389-1980 Cascade Natural Gas ........................................................................ 888-522-1130 Midstate Electric .............................................................................. 541-536-2126 WATER & SEWER City of Bend ...................................................................................... 541-388-5515 Avion Water Company ..................................................................... 541-382-5342 Watermaster .................................................................................... 541-388-6669

Bend, OR 97702 541-749-4040

La Pine 16455 William Foss Rd, Ste. 200 Bend, OR 97739 541-876-1107

Madras 739 SW 4th St Madras, OR 97741 541-475-4885

Prineville 150 NE Ct Prineville, OR 97754 541-447-5181

Redmond 735 SW 6th St Redmond, OR 97756 541-923-1749

Sunriver 57100 Beaver Dr, Bldg. 5, Ste. 130 Sunriver, OR 97707 541-593-1613

12880 cornett lp hb  
12880 cornett lp hb  
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