Date : 6th November 2024

The Secretary The Manager Societe de la Bourse de

The BSE Limited National Stock Exchange of India Ltd Luxembourg
Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, 35A Bouleverd Joseph II
Dalal Street Plot No.C/1, G Block, L-1840, Luxembourg
Mumbai – 400 001 Bandra Kurla Complex, Bandra [Scrip Code: US9173002042]
[Scrip Code:517146] Mumbai – 400 051
[Symbol: USHAMART]

Dear Sir(s) / Madam,

Sub : Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 – Outcome of Board Meeting

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 (‘SEBI
Listing Regulations’), we wish to inform you that the Board of Directors of the Company at their meeting held today,
has interalia, considered and approved the Un-audited Financial Results of the Company (standalone and
consolidated) for the Quarter and Half year ended 30th September 2024.

A copy of abovesaid Financial Results and Report of the Auditors on "Limited Review" of said Financial Results are
enclosed herewith.

The Board Meeting commenced at 3:00 P.M (IST) and concluded at 3:25 P.M (IST).

The aforesaid information is being made available on the website of the Company i.e. www.ushamartin.com

This is for your information and record.

Thanking you,

Yours faithfully,
For Usha Martin Limited

MANISH Digitally signed by

MANISH AGARWAL
AGARWAL Date: 2024.11.06
15:50:17 +05'30'

Manish Agarwal
Company Secretary & Compliance Officer

Encl : As above
 Charted Accountants
22 Camac Street
3rd Floor, Block B
Kolkata – 700 016, India
Tel: +91 33 6134 4000

Independent Auditor’s Review Report on the Quarterly and Year to Date Unaudited
Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to
The Board of Directors
Usha Martin Limited

1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial

Results of Usha Martin Limited (the “Holding Company”) and its subsidiaries (the Holding
Company and its subsidiaries together referred to as “the Group”), its joint ventures for the
quarter ended September 30, 2024 and year to date from April 01, 2024 to September 30,
2024 (the “Statement”) attached herewith, being submitted by the Holding Company pursuant
to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended (the “Listing Regulations”).

2. The Holding Company’s Management is responsible for the preparation of the Statement in
accordance with the recognition and measurement principles laid down in Indian Accounting
Standard 34, (Ind AS 34) “Interim Financial Reporting” prescribed under Section 133 of the
Companies Act, 2013 as amended, read with relevant rules issued thereunder and other
accounting principles generally accepted in India and in compliance with Regulation 33 of
the Listing Regulations. The Statement has been approved by the Holding Company’s Board
of Directors. Our responsibility is to express a conclusion on the Statement based on our
review.

3. We conducted our review of the Statement in accordance with the Standard on Review
Engagements (SRE) 2410, “Review of Interim Financial Information Performed by the
Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India.
This standard requires that we plan and perform the review to obtain moderate assurance as
to whether the Statement is free of material misstatement. A review of interim financial
information consists of making inquiries, primarily of persons responsible for financial and
accounting matters, and applying analytical and other review procedures. A review is
substantially less in scope than an audit conducted in accordance with Standards on Auditing
and consequently does not enable us to obtain assurance that we would become aware of
all significant matters that might be identified in an audit. Accordingly, we do not express an
audit opinion.

We also performed procedures in accordance with the Master Circular issued by the
Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations,
to the extent applicable.

4. The Statement includes the results of the entities as mentioned in the Annexure 1.

5. Based on our review conducted and procedures performed as stated in paragraph 3 above
and based on the consideration of the review reports of other auditors referred to in
paragraph 7 below, nothing has come to our attention that causes us to believe that the
 accompanying Statement, prepared in accordance with recognition and measurement
principles laid down in the aforesaid Indian Accounting Standards (‘Ind AS’) specified under
Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued
thereunder and other accounting principles generally accepted in India, has not disclosed the
information required to be disclosed in terms of the Listing Regulations, including the manner
in which it is to be disclosed, or that it contains any material misstatement.

6. Emphasis of Matter paragraph

We draw attention to Note 7(a) regarding attachment of certain parcels of land at Ranchi
used by the Company's wire rope business under Prevention of Money Laundering Act, 2002
(PMLA) in connection with export and domestic sale of iron ore fines in prior years
aggregating Rs 19,037 lakhs allegedly in contravention of terms of the mining lease granted
to the Company for the iron ore mines. Pending final outcome of the appeal filed by the
Company before the Appellate Tribunal, PMLA and the on-going proceedings before the
District and Sessions Judge Cum Special Judge, Ranchi, no adjustment to these
consolidated financial results in this regard have been considered necessary by the
management.

Further, as explained in Note 7(b), a First Information Report (FIR) has been filed by Central
Bureau of Investigation (CBI) against the Company, its Managing Director and certain Other
Officers under the Prevention of Corruption Act, 1988 and the Indian Penal Code, 1860 for
allegedly trying to influence ongoing CBI investigation pertaining to the proceedings
mentioned in note 7(a). Pursuant to the charge sheet filed by the CBI, proceedings in this
regard are on-going before the Special Judge - CBI, New Delhi. The Company has also
received intimation from Enforcement of Directorate (ED) regarding summons issued to the
Company to answer to a charge under the provisions of PMLA which, as informed by
management pertains to the same matter. The Company intends to take such legal measures
as may be considered necessary in respect of the ongoing proceedings. Pending final
outcome of the ongoing proceedings, no adjustment to these consolidated financial results
in this regard have been considered necessary by the management.

Our conclusion is not modified in respect of these matters.

7. The accompanying Statement includes the unaudited interim financial results and other
financial information, in respect of:

x twenty subsidiaries, whose unaudited interim financial results include total assets of Rs.
2,29,052 lakhs as at September 30, 2024, total revenues of Rs. 56,871 lakhs and Rs.
1,12,795 lakhs, total net profit after tax of Rs. 3,215 lakhs and Rs. 6,552 lakhs, total
comprehensive income of Rs. 3,338 lakhs and Rs. 6,686 lakhs, for the quarter ended
September 30, 2024 and the period ended on that date respectively, and net cash
inflows of Rs. 1,126 lakhs for the period from April 01, 2024 to September 30, 2024, as
considered in the Statement which have been reviewed by their respective independent
auditors.
 x two joint ventures, whose unaudited interim financial results include Group’s share of
net profit of Rs. 425 lakhs and Rs. 834 lakhs and Group’s share of total comprehensive
income of Rs. 425 lakhs and Rs. 834 lakhs for the quarter ended September 30, 2024
and for the period from April 01, 2024 to September 30, 2024 respectively, as
considered in the Statement whose interim financial results and other financial
information have been reviewed by their respective independent auditors.

The independent auditor’s reports on interim financial information/ financial results of these
entities have been furnished to us by the Management and our conclusion on the Statement,
in so far as it relates to the amounts and disclosures in respect of these subsidiaries and joint
ventures is based solely on the report of such auditors and procedures performed by us as
stated in paragraph 3 above.

Our conclusion on the Statement in respect of matters stated in para 7 above is not modified
with respect to our reliance on the work done and the reports of the other auditors.

For S.R. Batliboi & Co. LLP

Chartered Accountants
ICAI Firm registration number: 301003E/E300005
Digitally signed by SHIVAM
SHIVAM CHOWDHARY
DN: cn=SHIVAM CHOWDHARY,

CHOWDHARY c=IN, o=Personal,

email=shivam.chowdhary@srb.in
_______________________
Date: 2024.11.06 15:27:59 +05'30'

per Shivam Chowdhary

Partner
Membership No.: 067077
UDIN: 24067077BKFSGO7973
Place: Kolkata
Date: November 06, 2024
Annexure I
List of subsidiaries / joint ventures
Subsidiaries
Sl. No. Name
1 UM Cables Limited
2 Bharat Minex Private Limited
3 Gustav Wolf Speciality Cords Limited
4 Usha Martin International Limited
5 Usha Martin UK Limited @
6 European Management and Marine Corporation Limited @
7 Brunton Shaw UK Limited @
8 De Ruiter Staalkabel B.V. @
9 Usha Martin Europe B.V. @
10 Usha Martin Italia S.R.L. @
11 Usha Martin España, S.L @
12 Brunton Wire Ropes FZCO.
13 Brunton Wire Ropes Industrial Company Limited @
14 Usha Martin Americas Inc.
15 Usha Siam Steel Industries Public Company Limited
16 Usha Siam Specialty Wire Rope Company Limited @
17 Usha Martin Singapore Pte. Limited
18 Usha Martin Australia Pty Limited @
19 Usha Martin Vietnam Company Limited @
20 PT Usha Martin Indonesia @
@ Represents step-down subsidiaries

Joint ventures
1 Pengg Usha Martin Wires Private Limited
2 CCL Usha Martin Stressing Systems Limited
^ƚĂƚĞŵĞŶƚŽĨhŶĂƵĚŝƚĞĚŽŶƐŽůŝĚĂƚĞĚ&ŝŶĂŶĐŝĂůZĞƐƵůƚƐĨŽƌƚŚĞƋƵĂƌƚĞƌĂŶĚƐŝdžŵŽŶƚŚƐĞŶĚĞĚϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϮϰ
;ŵŽƵŶƚƐŝŶZƐ͘ůĂŬŚƐƵŶůĞƐƐŽƚŚĞƌǁŝƐĞƐƚĂƚĞĚͿ
YƵĂƌƚĞƌĞŶĚĞĚ YƵĂƌƚĞƌĞŶĚĞĚ YƵĂƌƚĞƌĞŶĚĞĚ ^ŝdžŵŽŶƚŚƐĞŶĚĞĚ ^ŝdžŵŽŶƚŚƐĞŶĚĞĚ zĞĂƌĞŶĚĞĚ
ϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ ϯϬƚŚ:ƵŶĞ͕ ϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ ϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ ϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ ϯϭƐƚDĂƌĐŚ͕
WĂƌƚŝĐƵůĂƌƐ ϮϬϮϰ ϮϬϮϰ ϮϬϮϯ ϮϬϮϰ ϮϬϮϯ ϮϬϮϰ

hŶĂƵĚŝƚĞĚ hŶĂƵĚŝƚĞĚ hŶĂƵĚŝƚĞĚ hŶĂƵĚŝƚĞĚ hŶĂƵĚŝƚĞĚ ƵĚŝƚĞĚ

ϭ ZĞǀĞŶƵĞĨƌŽŵŽƉĞƌĂƚŝŽŶƐ  ϴϵ͕ϭϭϳ ϴϮ͕ϲϯϳ ϳϴ͕ϰϳϬ ϭ͕ϳϭ͕ϳϱϰ ϭ͕ϱϵ͕ϵϬϴ  ϯ͕ϮϮ͕ϱϮϬ

Ϯ KƚŚĞƌŝŶĐŽŵĞ ϲϴϱ  ϰϵϴ  Ϯ͕ϭϯϬ  ϭ͕ϭϴϯ  Ϯ͕ϰϵϬ ϰ͕ϬϮϴ
ϯ dŽƚĂůŝŶĐŽŵĞ΀ϭнϮ΁ ϴϵ͕ϴϬϮ ϴϯ͕ϭϯϱ ϴϬ͕ϲϬϬ ϭ͕ϳϮ͕ϵϯϳ ϭ͕ϲϮ͕ϯϵϴ ϯ͕Ϯϲ͕ϱϰϴ
ϰ džƉĞŶƐĞƐ
ĂͿ ŽƐƚŽĨŵĂƚĞƌŝĂůƐĐŽŶƐƵŵĞĚ  ϰϯ͕ϴϰϮ ϰϮ͕ϳϮϭ  ϯϳ͕ϵϭϬ  ϴϲ͕ϱϲϯ  ϴϬ͕ϱϰϵ  ϭ͕ϲϮ͕ϰϮϲ
ďͿ WƵƌĐŚĂƐĞƐŽĨƐƚŽĐŬͲŝŶͲƚƌĂĚĞ ϵϱϬ  ϲϮϳ  ϲϲϴ  ϭ͕ϱϳϳ  ϭ͕ϯϰϳ Ϯ͕ϳϯϰ
ĐͿ ŚĂŶŐĞƐŝŶŝŶǀĞŶƚŽƌŝĞƐŽĨĨŝŶŝƐŚĞĚŐŽŽĚƐ͕ǁŽƌŬͲŝŶͲƉƌŽŐƌĞƐƐ͕
ƐƚŽĐŬͲŝŶͲƚƌĂĚĞĂŶĚƐĐƌĂƉͬďLJƉƌŽĚƵĐƚ  ;ϱϰϭͿ  ;ϰ͕ϭϴϭͿ  ϭ͕Ϭϯϰ  ;ϰ͕ϳϮϮͿ ϱϱϬ  ;ϭ͕ϴϮϳͿ
ĚͿ ŵƉůŽLJĞĞďĞŶĞĨŝƚƐĞdžƉĞŶƐĞ  ϭϮ͕ϭϮϭ ϭϮ͕ϱϴϱ  ϭϬ͕ϰϱϭ  Ϯϰ͕ϳϬϲ  Ϯϭ͕ϭϵϭ  ϰϮ͕ϳϲϯ
ĞͿ &ŝŶĂŶĐĞĐŽƐƚƐ ϳϲϳ  ϲϲϳ  ϲϰϬ  ϭ͕ϰϯϰ  ϭ͕ϭϵϮ Ϯ͕ϰϳϴ
ĨͿ ĞƉƌĞĐŝĂƚŝŽŶĂŶĚĂŵŽƌƚŝƐĂƚŝŽŶĞdžƉĞŶƐĞ  Ϯ͕Ϯϳϵ Ϯ͕ϭϳϰ  ϭ͕ϳϵϵ  ϰ͕ϰϱϯ  ϯ͕ϱϲϮ ϳ͕ϳϬϬ
ŐͿ KƚŚĞƌĞdžƉĞŶƐĞƐ  ϭϲ͕ϲϲϴ ϭϱ͕ϰϴϭ  ϭϯ͕ϵϳϱ  ϯϮ͕ϭϰϵ  Ϯϳ͕Ϯϳϭ  ϱϲ͕ϱϲϴ
dŽƚĂůĞdžƉĞŶƐĞƐ ϳϲ͕Ϭϴϲ ϳϬ͕Ϭϳϰ ϲϲ͕ϰϳϳ ϭ͕ϰϲ͕ϭϲϬ ϭ͕ϯϱ͕ϲϲϮ Ϯ͕ϳϮ͕ϴϰϮ
ϱ WƌŽĨŝƚďĞĨŽƌĞƐŚĂƌĞŽĨƉƌŽĨŝƚŽĨũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚƚĂdž΀ϯͲϰ΁ ϭϯ͕ϳϭϲ ϭϯ͕Ϭϲϭ ϭϰ͕ϭϮϯ Ϯϲ͕ϳϳϳ Ϯϲ͕ϳϯϲ ϱϯ͕ϳϬϲ
ϲ ^ŚĂƌĞŽĨƉƌŽĨŝƚŽĨũŽŝŶƚǀĞŶƚƵƌĞƐ͕ŶĞƚŽĨƚĂdž ϰϮϱ  ϰϬϵ  ϯϮϰ ϴϯϰ ϲϮϭ  ϭ͕Ϯϰϱ
ϳ WƌŽĨŝƚďĞĨŽƌĞƚĂdž΀ϱнϲ΁ ϭϰ͕ϭϰϭ ϭϯ͕ϰϳϬ ϭϰ͕ϰϰϳ Ϯϳ͕ϲϭϭ Ϯϳ͕ϯϱϳ ϱϰ͕ϵϱϭ
ϴ dĂdžĞdžƉĞŶƐĞ͗
ĂͿ ƵƌƌĞŶƚƚĂdž  ϯ͕ϭϭϱ ϯ͕ϬϮϲ  ϯ͕ϳϰϵ  ϲ͕ϭϰϭ  ϲ͕ϳϯϱ  ϭϮ͕ϴϮϮ
ďͿ ĚũƵƐƚŵĞŶƚŽĨƚĂdžƌĞůĂƚŝŶŐƚŽĞĂƌůŝĞƌƉĞƌŝŽĚƐ Ͳ  Ͳ  ;ϭϲϳͿ  Ͳ  ;ϭϴϱͿ  ;ϮϮϵͿ
ĐͿ ĞĨĞƌƌĞĚƚĂdžĐŚĂƌŐĞͬ;ĐƌĞĚŝƚͿ  ϵϱ  ϲϬ  ;ϴϳͿ ϭϱϱ  ;ϮϮϭͿ ;ϱϰͿ
dŽƚĂůdĂdžĞdžƉĞŶƐĞ΀ĂнďнĐ΁  ϯ͕ϮϭϬ ϯ͕Ϭϴϲ  ϯ͕ϰϵϱ  ϲ͕Ϯϵϲ  ϲ͕ϯϮϵ  ϭϮ͕ϱϯϵ
ϵ WƌŽĨŝƚĨŽƌƚŚĞƉĞƌŝŽĚͬLJĞĂƌĂĨƚĞƌƚĂdž΀ϳͲϴ΁  ϭϬ͕ϵϯϭ ϭϬ͕ϯϴϰ ϭϬ͕ϵϱϮ  Ϯϭ͕ϯϭϱ  Ϯϭ͕ϬϮϴ  ϰϮ͕ϰϭϮ
ϭϬ KƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞͬ;ůŽƐƐͿ
 ;ŝͿ/ƚĞŵƐƚŚĂƚǁŝůůŶŽƚďĞƌĞĐůĂƐƐŝĨŝĞĚƚŽƉƌŽĨŝƚŽƌůŽƐƐ Ύ ;ϭϲϭͿ  ;ϮϭϯͿ  ;ϭϲϭͿ  ;ϰϳϲͿ  ;ϴϱϲͿ
;ŝŝͿ/ŶĐŽŵĞƚĂdžƌĞůĂƚŝŶŐƚŽŝƚĞŵƐƚŚĂƚǁŝůůŶŽƚďĞƌĞĐůĂƐƐŝĨŝĞĚƚŽ
ƉƌŽĨŝƚŽƌůŽƐƐ Ύ  ϰϭ ϲϰ ϰϭ ϭϯϲ  Ϯϭϯ
 /ƚĞŵƐƚŚĂƚǁŝůůďĞƌĞĐůĂƐƐŝĨŝĞĚƚŽƉƌŽĨŝƚŽƌůŽƐƐ  ϲ͕ϲϬϮ  ϱϱ  ;ϳϭϯͿ  ϲ͕ϲϱϳ  ;ϴϯϳͿ ϳϱϳ
dŽƚĂůŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞͬ;ůŽƐƐͿ  ϲ͕ϲϬϮ  ;ϲϱͿ  ;ϴϲϮͿ  ϲ͕ϱϯϳ ;ϭ͕ϭϳϳͿ  ϭϭϰ
ϭϭ dŽƚĂůĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞĨŽƌƚŚĞƉĞƌŝŽĚͬLJĞĂƌ΀ϵнϭϬ΁  ϭϳ͕ϱϯϯ ϭϬ͕ϯϭϵ ϭϬ͕ϬϵϬ  Ϯϳ͕ϴϱϮ  ϭϵ͕ϴϱϭ  ϰϮ͕ϱϮϲ
ϭϮ WƌŽĨŝƚĨŽƌƚŚĞƉĞƌŝŽĚͬLJĞĂƌĂƚƚƌŝďƵƚĂďůĞƚŽ͗
ƋƵŝƚLJƐŚĂƌĞŚŽůĚĞƌƐŽĨƚŚĞƉĂƌĞŶƚ  ϭϬ͕ϵϳϮ ϭϬ͕ϰϭϭ  ϭϬ͕ϵϰϳ  Ϯϭ͕ϯϴϯ  Ϯϭ͕ϬϮϬ  ϰϮ͕ϯϵϲ
EŽŶĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚ ;ϰϭͿ  ;ϮϳͿ  ϱ  ;ϲϴͿ  ϴ  ϭϲ
ϭϯ KƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞͬ;ůŽƐƐͿĂƚƚƌŝďƵƚĂďůĞƚŽ͗
ƋƵŝƚLJƐŚĂƌĞŚŽůĚĞƌƐŽĨƚŚĞƉĂƌĞŶƚ  ϲ͕ϱϰϬ  ;ϲϱͿ  ;ϴϰϬͿ ϲ͕ϰϳϱ  ;ϭ͕ϭϱϰͿ ϵϭ
EŽŶĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚ ϲϮ Ύ  ;ϮϮͿ ϲϮ  ;ϮϯͿ  Ϯϯ
ϭϰ dŽƚĂůĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞͬ;ůŽƐƐͿĨŽƌƚŚĞƉĞƌŝŽĚͬLJĞĂƌĂƚƚƌŝďƵƚĂďůĞ
ƚŽ͗
ƋƵŝƚLJƐŚĂƌĞŚŽůĚĞƌƐŽĨƚŚĞƉĂƌĞŶƚ  ϭϳ͕ϱϭϮ ϭϬ͕ϯϰϲ ϭϬ͕ϭϬϳ  Ϯϳ͕ϴϱϴ  ϭϵ͕ϴϲϲ  ϰϮ͕ϰϴϳ
EŽŶĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚ  Ϯϭ  ;ϮϳͿ  ;ϭϳͿ  ;ϲͿ  ;ϭϱͿ  ϯϵ
ϭϱ WĂŝĚͲƵƉĞƋƵŝƚLJƐŚĂƌĞĐĂƉŝƚĂů;ĨĂĐĞǀĂůƵĞŽĨZĞϭͬͲĞĂĐŚͿ  ϯ͕Ϭϱϰ ϯ͕Ϭϱϰ  ϯ͕Ϭϱϰ  ϯ͕Ϭϱϰ  ϯ͕Ϭϱϰ  ϯ͕Ϭϱϰ
ϭϲ KƚŚĞƌĞƋƵŝƚLJ  Ϯ͕ϯϰ͕ϵϭϯ
ϭϳ ĂƌŶŝŶŐƐƉĞƌĞƋƵŝƚLJƐŚĂƌĞ;ZƐ͘Ϳ
η η η η η
ĂƐŝĐĂŶĚŝůƵƚĞĚ;ZƐ͘Ϳ  ϯ͘ϱϵ ϯ͘ϰϮ  ϯ͘ϱϵ  ϳ͘Ϭϭ  ϲ͘ϵϬ  ϭϯ͘ϵϮ
ΎŵŽƵŶƚďĞůŽǁƌŽƵŶĚŝŶŐŽĨĨŶŽƌŵƐ
η
ŶŽƚĂŶŶƵĂůŝƐĞĚ

h^,DZd/E>/D/d
ZĞŐŝƐƚĞƌĞĚĂŶĚŽƌƉŽƌĂƚĞKĨĨŝĐĞ͗Ϯ͕^ŚĂŬĞƐƉĞĂƌĞ^ĂƌĂŶŝ͕<ŽůŬĂƚĂͲϳϬϬϬϳϭ͕/ŶĚŝĂ
WŚŽŶĞ͗ϬϯϯͲϳϭϬϬϲϯϬϬ͖&Ădž͗ϬϯϯͲϳϭϬϬϲϰϭϱ
tĞďƐŝƚĞ͗ǁǁǁ͘ƵƐŚĂŵĂƌƚŝŶ͘ĐŽŵ
ŵĂŝů͗ŝŶǀĞƐƚŽƌΛƵƐŚĂŵĂƌƚŝŶ͘ĐŽ͘ŝŶ
/E͗>ϯϭϰϬϬtϭϵϴϲW>ϬϵϭϲϮϭ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂůZĞƐƵůƚƐ
ϭ͘ŽŶƐŽůŝĚĂƚĞĚĂůĂŶĐĞ^ŚĞĞƚĂƐĂƚϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϮϰ
;ŵŽƵŶƚƐŝŶZƐ͘ůĂŬŚƐƵŶůĞƐƐŽƚŚĞƌǁŝƐĞƐƚĂƚĞĚͿ
ƐĂƚ
ƐĂƚ
WĂƌƚŝĐƵůĂƌƐ ϯϬƚŚ^ĞƉƚĞŵďĞƌ͕
ϯϭƐƚDĂƌĐŚ͕ϮϬϮϰ
ϮϬϮϰ
;hŶĂƵĚŝƚĞĚͿ ;ƵĚŝƚĞĚͿ
^^d^
EŽŶͲĐƵƌƌĞŶƚĂƐƐĞƚƐ
;ĂͿWƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ ϭ͕ϭϱ͕ϭϭϮ ϭ͕ϬϮ͕ϰϬϰ
;ďͿĂƉŝƚĂůǁŽƌŬͲŝŶͲƉƌŽŐƌĞƐƐ  ϭϱ͕ϭϭϲ  ϭϲ͕ϱϴϬ
;ĐͿ'ŽŽĚǁŝůůŽŶĐŽŶƐŽůŝĚĂƚŝŽŶ  ϱ͕ϱϮϮ  ϱ͕ϱϮϮ
;ĚͿKƚŚĞƌŝŶƚĂŶŐŝďůĞĂƐƐĞƚƐ  ϲϴϵ  ϳϮϯ
;ĞͿZŝŐŚƚͲŽĨͲƵƐĞĂƐƐĞƚƐ  ϳ͕ϲϲϳ  ϲ͕ϲϳϰ
;ĨͿ/ŶƚĂŶŐŝďůĞĂƐƐĞƚƐƵŶĚĞƌĚĞǀĞůŽƉŵĞŶƚ  ϲϴ Ͳ
;ŐͿƋƵŝƚLJĂĐĐŽƵŶƚĞĚŝŶǀĞƐƚŵĞŶƚƐ  ϱ͕ϴϯϰ  ϱ͕ϱϴϬ
;ŚͿ&ŝŶĂŶĐŝĂůĂƐƐĞƚƐ
;ŝͿ/ŶǀĞƐƚŵĞŶƚƐ  ϮϬ  ϮϬ
;ŝŝͿ>ŽĂŶƐ  ϰϵϳ  ϱϯϱ
;ŝŝŝͿKƚŚĞƌĨŝŶĂŶĐŝĂůĂƐƐĞƚƐ  ϯ͕ϬϴϬ  Ϯ͕ϵϮϵ
;ŝͿ/ŶĐŽŵĞƚĂdžĂƐƐĞƚƐ;ŶĞƚͿ  Ϯ͕ϳϲϮ  Ϯ͕ϴϵϬ
;ũͿĞĨĞƌƌĞĚƚĂdžĂƐƐĞƚƐ;ŶĞƚͿ  ϭ͕ϲϱϳ  ϭ͕ϲϵϰ
;ŬͿKƚŚĞƌĂƐƐĞƚƐ  ϴ͕ϭϯϭ  ϴ͕ϱϱϲ
dŽƚĂůŶŽŶͲĐƵƌƌĞŶƚĂƐƐĞƚƐ ϭ͕ϲϲ͕ϭϱϱ ϭ͕ϱϰ͕ϭϬϳ
ƵƌƌĞŶƚĂƐƐĞƚƐ
;ĂͿ/ŶǀĞŶƚŽƌŝĞƐ  ϵϴ͕ϱϴϴ  ϴϴ͕ϵϲϮ
;ďͿ&ŝŶĂŶĐŝĂůĂƐƐĞƚƐ
;ŝͿdƌĂĚĞƌĞĐĞŝǀĂďůĞƐ  ϲϬ͕ϭϴϯ  ϱϯ͕ϵϯϭ
;ŝŝͿĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐ  ϭϳ͕ϲϱϱ  ϭϰ͕ϵϳϴ
;ŝŝŝͿKƚŚĞƌďĂŶŬďĂůĂŶĐĞƐ  ϭ͕ϯϴϱ  ϭ͕ϳϵϯ
;ŝǀͿ>ŽĂŶƐ  ϮϲϬ  ϭϯϳ
;ǀͿKƚŚĞƌĨŝŶĂŶĐŝĂůĂƐƐĞƚƐ;ƌĞĨĞƌŶŽƚĞϲͿ  ϭϬ͕ϰϴϮ  ϵ͕ϭϳϯ
;ĐͿKƚŚĞƌĂƐƐĞƚƐ  ϭϬ͕ϱϯϮ  ϵ͕ϭϰϬ
dŽƚĂůĐƵƌƌĞŶƚĂƐƐĞƚƐ ϭ͕ϵϵ͕Ϭϴϱ ϭ͕ϳϴ͕ϭϭϰ
ƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ  ϳϵϮ  ϳϵϮ
dŽƚĂůĂƐƐĞƚƐ ϯ͕ϲϲ͕ϬϯϮ ϯ͕ϯϯ͕Ϭϭϯ
Yh/dzE>//>/d/^
ƋƵŝƚLJ
;ĂͿƋƵŝƚLJƐŚĂƌĞĐĂƉŝƚĂů  ϯ͕Ϭϱϰ  ϯ͕Ϭϱϰ
;ďͿKƚŚĞƌĞƋƵŝƚLJ Ϯ͕ϱϰ͕ϯϵϭ Ϯ͕ϯϰ͕ϵϭϯ
ƋƵŝƚLJĂƚƚƌŝďƵƚĂďůĞƚŽĞƋƵŝƚLJƐŚĂƌĞŚŽůĚĞƌƐŽĨƚŚĞƉĂƌĞŶƚ Ϯ͕ϱϳ͕ϰϰϱ Ϯ͕ϯϳ͕ϵϲϳ
EŽŶͲĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚ  ϱϮϴ  ϰϮϰ
dŽƚĂůƋƵŝƚLJ Ϯ͕ϱϳ͕ϵϳϯ Ϯ͕ϯϴ͕ϯϵϭ
>ŝĂďŝůŝƚŝĞƐ
EŽŶͲĐƵƌƌĞŶƚůŝĂďŝůŝƚŝĞƐ
;ĂͿ&ŝŶĂŶĐŝĂůůŝĂďŝůŝƚŝĞƐ
;ŝͿŽƌƌŽǁŝŶŐƐ  ϭϲ͕ϯϵϱ  ϮϬ͕Ϭϭϴ
;ŝŝͿ>ĞĂƐĞůŝĂďŝůŝƚŝĞƐ  ϲ͕ϳϳϳ  ϱ͕ϳϰϲ
;ŝŝŝͿKƚŚĞƌĨŝŶĂŶĐŝĂůůŝĂďŝůŝƚŝĞƐ  ϵ  ϵ
;ďͿWƌŽǀŝƐŝŽŶƐ  ϰ͕ϴϯϰ  ϰ͕ϰϱϰ
;ĐͿĞĨĞƌƌĞĚƚĂdžůŝĂďŝůŝƚŝĞƐ;ŶĞƚͿ  ϯ͕Ϭϵϳ  Ϯ͕ϴϬϳ
dŽƚĂůŶŽŶͲĐƵƌƌĞŶƚůŝĂďŝůŝƚŝĞƐ  ϯϭ͕ϭϭϮ  ϯϯ͕Ϭϯϰ
ƵƌƌĞŶƚůŝĂďŝůŝƚŝĞƐ
;ĂͿ&ŝŶĂŶĐŝĂůůŝĂďŝůŝƚŝĞƐ
;ŝͿŽƌƌŽǁŝŶŐƐ  Ϯϭ͕ϴϮϯ  ϵ͕ϳϱϴ
;ŝŝͿ>ĞĂƐĞůŝĂďŝůŝƚŝĞƐ ϵϯϯ  ϴϲϭ
;ŝŝŝͿdƌĂĚĞƉĂLJĂďůĞƐ
;ͿdŽƚĂůŽƵƚƐƚĂŶĚŝŶŐĚƵĞƐŽĨŵŝĐƌŽĂŶĚƐŵĂůůĞŶƚĞƌƉƌŝƐĞƐ ϴϮϯ  ϵϭϭ
;ͿdŽƚĂůŽƵƚƐƚĂŶĚŝŶŐĚƵĞƐŽĨĐƌĞĚŝƚŽƌƐŽƚŚĞƌƚŚĂŶŵŝĐƌŽĂŶĚ
ƐŵĂůůĞŶƚĞƌƉƌŝƐĞƐ  Ϯϲ͕Ϭϰϴ  Ϯϯ͕ϵϮϰ
;ŝǀͿKƚŚĞƌĨŝŶĂŶĐŝĂůůŝĂďŝůŝƚŝĞƐ  ϴ͕ϭϰϳ  ϳ͕ϯϳϰ
;ďͿWƌŽǀŝƐŝŽŶƐ  ϭ͕ϲϭϰ  ϭ͕ϱϭϯ
;ĐͿ/ŶĐŽŵĞƚĂdžůŝĂďŝůŝƚŝĞƐ;ŶĞƚͿ  ϰ͕ϴϴϲ  ϰ͕ϳϭϭ
;ĚͿKƚŚĞƌůŝĂďŝůŝƚŝĞƐ  ϭϮ͕ϲϳϯ  ϭϮ͕ϱϯϲ
dŽƚĂůĐƵƌƌĞŶƚůŝĂďŝůŝƚŝĞƐ  ϳϲ͕ϵϰϳ  ϲϭ͕ϱϴϴ
dŽƚĂůůŝĂďŝůŝƚŝĞƐ ϭ͕Ϭϴ͕Ϭϱϵ  ϵϰ͕ϲϮϮ
dŽƚĂůĞƋƵŝƚLJĂŶĚůŝĂďŝůŝƚŝĞƐ ϯ͕ϲϲ͕ϬϯϮ ϯ͕ϯϯ͕Ϭϭϯ
h^,DZd/E>/D/d
ZĞŐŝƐƚĞƌĞĚĂŶĚŽƌƉŽƌĂƚĞKĨĨŝĐĞ͗Ϯ͕^ŚĂŬĞƐƉĞĂƌĞ^ĂƌĂŶŝ͕<ŽůŬĂƚĂͲϳϬϬϬϳϭ͕/ŶĚŝĂ
WŚŽŶĞ͗ϬϯϯͲϳϭϬϬϲϯϬϬ͖&Ădž͗ϬϯϯͲϳϭϬϬϲϰϭϱ
tĞďƐŝƚĞ͗ǁǁǁ͘ƵƐŚĂŵĂƌƚŝŶ͘ĐŽŵ
ŵĂŝů͗ŝŶǀĞƐƚŽƌΛƵƐŚĂŵĂƌƚŝŶ͘ĐŽ͘ŝŶ
/E͗>ϯϭϰϬϬtϭϵϴϲW>ϬϵϭϲϮϭ
Ϯ͘ ŽŶƐŽůŝĚĂƚĞĚƐƚĂƚĞŵĞŶƚŽĨĐĂƐŚĨůŽǁƐĨŽƌƚŚĞƐŝdžŵŽŶƚŚƐƉĞƌŝŽĚĞŶĚĞĚϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϮϰ
;ŵŽƵŶƚƐŝŶZƐ͘ůĂŬŚƐƵŶůĞƐƐŽƚŚĞƌǁŝƐĞƐƚĂƚĞĚͿ
^ŝdžŵŽŶƚŚƐĞŶĚĞĚ ^ŝdžŵŽŶƚŚƐĞŶĚĞĚ
ϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ ϯϬƚŚ^ĞƉƚĞŵďĞƌ͕
ϮϬϮϰ ϮϬϮϯ
;hŶĂƵĚŝƚĞĚͿ ;hŶĂƵĚŝƚĞĚͿ
͘ ĂƐŚĨůŽǁƐĨƌŽŵŽƉĞƌĂƚŝŶŐĂĐƚŝǀŝƚŝĞƐ
WƌŽĨŝƚďĞĨŽƌĞƚĂdž;ŝŶĐůƵĚŝŶŐƐŚĂƌĞŽĨƉƌŽĨŝƚŽĨũŽŝŶƚǀĞŶƚƵƌĞƐͿ  Ϯϳ͕ϲϭϭ  Ϯϳ͕ϯϱϳ
ĚũƵƐƚŵĞŶƚƐĨŽƌ͗
ĞƉƌĞĐŝĂƚŝŽŶĂŶĚĂŵŽƌƚŝƐĂƚŝŽŶĞdžƉĞŶƐĞ  ϰ͕ϰϱϯ  ϯ͕ϱϲϮ
'ĂŝŶŽŶĚŝƐƉŽƐĂůŽĨƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ΀ŶĞƚŽĨůŽƐƐŽŶĚŝƐƉŽƐĂůŽĨƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚ
ĞƋƵŝƉŵĞŶƚŽĨZƐ͘ϰůĂŬŚƐ;ϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϮϯ͗ZƐ͘ϲůĂŬŚƐͿ΁  ;ϭϲϭͿ ;ϮͿ
^ŚĂƌĞŽĨƉƌŽĨŝƚŽƌůŽƐƐŽĨũŽŝŶƚǀĞŶƚƵƌĞƐ  ;ϴϯϰͿ  ;ϲϮϭͿ
hŶƌĞĂůŝƐĞĚĚĞƌŝǀĂƚŝǀĞůŽƐƐͬ;ŐĂŝŶͿ;ŶĞƚͿ  ;ϭϱͿ ϮϮϵ
&ŝŶĂŶĐĞĐŽƐƚƐ  ϭ͕ϰϯϰ  ϭ͕ϭϵϮ
ĂĚĞďƚƐͬĂĚǀĂŶĐĞƐǁƌŝƚƚĞŶŽĨĨ  ϵϯ  ϰ
ůůŽǁĂŶĐĞĨŽƌͬ;ǁƌŝƚĞďĂĐŬŽĨͿĐƌĞĚŝƚŝŵƉĂŝƌĞĚĚĞďƚƐĂŶĚĂĚǀĂŶĐĞƐ  ϵϵ ;ϭϯͿ
WƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚǁƌŝƚƚĞŶŽĨĨ  ϲϳ ϭϳϵ
/ŶƚĞƌĞƐƚŝŶĐŽŵĞŽŶĨŝŶĂŶĐŝĂůĂƐƐĞƚƐĐĂƌƌŝĞĚĂƚĂŵŽƌƚŝƐĞĚĐŽƐƚ  ;ϯϱϴͿ  ;ϭϯϱͿ
hŶƌĞĂůŝƐĞĚĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞĚŝĨĨĞƌĞŶĐĞƐ;ŶĞƚͿ  ;ϮϰϵͿ  ϴϳ
ĨĨĞĐƚŽĨĐŚĂŶŐĞŝŶĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞƚƌĂŶƐůĂƚŝŽŶ  Ϯ͕ϬϵϮ  ;ϭϮϭͿ
>ŝĂďŝůŝƚŝĞƐŶŽůŽŶŐĞƌƌĞƋƵŝƌĞĚǁƌŝƚƚĞŶďĂĐŬ  ;ϰϯϬͿ  ;ϮϯϵͿ
ŝƐĐŽƵŶƚŝŶŐŽĨĨŝŶĂŶĐŝĂůĂƐƐĞƚƐ  ϯϰ  ϯϴ
KƉĞƌĂƚŝŶŐƉƌŽĨŝƚďĞĨŽƌĞĐŚĂŶŐĞƐŝŶŶŽŶͲĐƵƌƌĞŶƚͬĐƵƌƌĞŶƚĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƚŝĞƐ  ϯϯ͕ϴϯϲ ϯϭ͕ϱϭϳ
ĚũƵƐƚŵĞŶƚƐĨŽƌ͗
;/ŶĐƌĞĂƐĞͿͬĚĞĐƌĞĂƐĞŝŶŝŶǀĞŶƚŽƌŝĞƐ ;ϵ͕ϲϮϲͿ  Ϯ͕ϵϳϴ
;/ŶĐƌĞĂƐĞͿͬĚĞĐƌĞĂƐĞŝŶƚƌĂĚĞƌĞĐĞŝǀĂďůĞƐ ;ϲ͕ϭϱϱͿ  ϯ͕ϴϵϳ
;/ŶĐƌĞĂƐĞͿͬĚĞĐƌĞĂƐĞŝŶůŽĂŶƐĂŶĚĂĚǀĂŶĐĞƐ  ;ϭϬϱͿ  ϭϵ
;/ŶĐƌĞĂƐĞͿͬĚĞĐƌĞĂƐĞŝŶŽƚŚĞƌĨŝŶĂŶĐŝĂůĂƐƐĞƚƐ  ;ϰϱϬͿ  ;Ϯ͕ϭϬϬͿ
;/ŶĐƌĞĂƐĞͿͬĚĞĐƌĞĂƐĞŝŶŽƚŚĞƌĂƐƐĞƚƐ ;ϭ͕ϰϲϬͿ  Ϯ͕ϱϬϮ
/ŶĐƌĞĂƐĞͬ;ĚĞĐƌĞĂƐĞͿŝŶƚƌĂĚĞƉĂLJĂďůĞƐ  Ϯ͕ϮϬϰ  ;ϱ͕ϵϲϲͿ
/ŶĐƌĞĂƐĞͬ;ĚĞĐƌĞĂƐĞͿŝŶƉƌŽǀŝƐŝŽŶƐ  ϯϮϬ  ;ϵϮϱͿ
/ŶĐƌĞĂƐĞͬ;ĚĞĐƌĞĂƐĞͿŝŶŽƚŚĞƌĨŝŶĂŶĐŝĂůůŝĂďŝůŝƚŝĞƐ  ϭ͕Ϯϱϱ ϭϭϵ
/ŶĐƌĞĂƐĞͬ;ĚĞĐƌĞĂƐĞͿŝŶŽƚŚĞƌůŝĂďŝůŝƚŝĞƐ  ϭϱϲ  ;ϵϴϴͿ
ĂƐŚŐĞŶĞƌĂƚĞĚĨƌŽŵŽƉĞƌĂƚŝŽŶƐ ϭϵ͕ϵϳϱ  ϯϭ͕Ϭϱϯ
ŝƌĞĐƚƚĂdžĞƐ;ƉĂŝĚͿͬƌĞĨƵŶĚ;ŶĞƚͿ ;ϱ͕ϴϰϬͿ  ;ϱ͕ϯϬϱͿ
EĞƚĐĂƐŚĨůŽǁƐĨƌŽŵŽƉĞƌĂƚŝŶŐĂĐƚŝǀŝƚŝĞƐ ϭϰ͕ϭϯϱ  Ϯϱ͕ϳϰϴ
͘ ĂƐŚĨůŽǁƐĨƌŽŵŝŶǀĞƐƚŝŶŐĂĐƚŝǀŝƚŝĞƐ
WƵƌĐŚĂƐĞŽĨƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ͕ĐĂƉŝƚĂůͲǁŽƌŬͲŝŶƉƌŽŐƌĞƐƐĂŶĚŝŶƚĂŶŐŝďůĞĂƐƐĞƚƐ  ;ϭϮ͕ϬϯϳͿ  ;ϭϯ͕ϲϬϲͿ
WƌŽĐĞĞĚƐĨƌŽŵƐĂůĞŽĨƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ  Ϯϴ ϭϲϮ
;/ŶǀĞƐƚŵĞŶƚŝŶͿͬZĞĨƵŶĚŽĨŵĂƌŐŝŶŵŽŶĞLJ  ;ϭϯϯͿ ϭϴϮ
ZĞĨƵŶĚŽĨͬ;/ŶǀĞƐƚŵĞŶƚŝŶͿďĂŶŬĚĞƉŽƐŝƚƐ  ϰϯϬ  ;ϭ͕ϭϴϰͿ
/ŶƚĞƌĞƐƚƌĞĐĞŝǀĞĚ  ϰϬϳ ϭϬϯ
ŝǀŝĚĞŶĚƌĞĐĞŝǀĞĚĨƌŽŵĂũŽŝŶƚǀĞŶƚƵƌĞ  ϱϴϬ ϰϰϬ
EĞƚĐĂƐŚĨůŽǁƐƵƐĞĚŝŶŝŶǀĞƐƚŝŶŐĂĐƚŝǀŝƚŝĞƐ  ;ϭϬ͕ϳϮϱͿ  ;ϭϯ͕ϵϬϯͿ
͘ ĂƐŚĨůŽǁƐĨƌŽŵĨŝŶĂŶĐŝŶŐĂĐƚŝǀŝƚŝĞƐ
WƌŽĐĞĞĚƐĨƌŽŵŝŶǀĞƐƚŵĞŶƚďLJŵŝŶŽƌŝƚLJƐŚĂƌĞŚŽůĚĞƌƐŝŶĂƐƵďƐŝĚŝĂƌLJ  ϭϬϵ Ͳ
WƌŽĐĞĞĚƐĨƌŽŵůŽŶŐƚĞƌŵďŽƌƌŽǁŝŶŐƐ  ϰϰϯ  Ϯ͕ϱϬϬ
ZĞƉĂLJŵĞŶƚŽĨůŽŶŐƚĞƌŵďŽƌƌŽǁŝŶŐƐ  ;ϭϲϯͿ  ;ϯ͕ϴϱϬͿ
ZĞƉĂLJŵĞŶƚŽĨƐŚŽƌƚƚĞƌŵǁŽƌŬŝŶŐĐĂƉŝƚĂůďŽƌƌŽǁŝŶŐƐ;ŶĞƚͿ  ϴ͕ϭϲϭ  ϭ͕ϵϳϬ
/ŶƚĞƌĞƐƚƉĂŝĚ ;ϭ͕ϮϵϰͿ  ;ϭ͕ϬϱϮͿ
ŝǀŝĚĞŶĚƉĂŝĚ ;ϴ͕ϯϴϬͿ  ;ϳ͕ϲϭϳͿ
EĞƚĐĂƐŚĨůŽǁƐƵƐĞĚŝŶŝŶĨŝŶĂŶĐŝŶŐĂĐƚŝǀŝƚŝĞƐ ;ϭ͕ϭϮϰͿ  ;ϴ͕ϬϰϵͿ
͘ ĨĨĞĐƚŽĨĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞĚŝĨĨĞƌĞŶĐĞƐŽŶĐĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐ  ϯϵϭ  ϯϭ
EĞƚŝŶĐƌĞĂƐĞŝŶĐĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐ;нннͿ Ϯ͕ϲϳϳ ϯ͕ϴϮϳ
KƉĞŶŝŶŐĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐ  ϭϰ͕ϵϳϴ  ϭϱ͕Ϭϭϲ
ůŽƐŝŶŐĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐ  ϭϳ͕ϲϱϱ ϭϴ͕ϴϰϯ
dŚĞĂďŽǀĞƐƚĂƚĞŵĞŶƚŽĨĐĂƐŚĨůŽǁƐŚĂƐďĞĞŶƉƌĞƉĂƌĞĚƵŶĚĞƌƚŚĞŝŶĚŝƌĞĐƚŵĞƚŚŽĚĂƐƐĞƚŽƵƚŝŶΗ/ŶĚŝĂŶĐĐŽƵŶƚŝŶŐ^ƚĂŶĚĂƌĚͲϳΗͲ^ƚĂƚĞŵĞŶƚŽĨĂƐŚ
ĨůŽǁƐ͘
h^,DZd/E>/D/d
ZĞŐŝƐƚĞƌĞĚĂŶĚŽƌƉŽƌĂƚĞKĨĨŝĐĞ͗Ϯ͕^ŚĂŬĞƐƉĞĂƌĞ^ĂƌĂŶŝ͕<ŽůŬĂƚĂͲϳϬϬϬϳϭ͕/ŶĚŝĂ
WŚŽŶĞ͗ϬϯϯͲϳϭϬϬϲϯϬϬ͖&Ădž͗ϬϯϯͲϳϭϬϬϲϰϭϱ
tĞďƐŝƚĞ͗ǁǁǁ͘ƵƐŚĂŵĂƌƚŝŶ͘ĐŽŵ
ŵĂŝů͗ŝŶǀĞƐƚŽƌΛƵƐŚĂŵĂƌƚŝŶ͘ĐŽ͘ŝŶ
/E͗>ϯϭϰϬϬtϭϵϴϲW>ϬϵϭϲϮϭ
 ϯ͘hŶĂƵĚŝƚĞĚŽŶƐŽůŝĚĂƚĞĚ^ĞŐŵĞŶƚZĞǀĞŶƵĞ͕ZĞƐƵůƚƐ͕ƐƐĞƚƐĂŶĚ>ŝĂďŝůŝƚŝĞƐĨŽƌƚŚĞƋƵĂƌƚĞƌĂŶĚƐŝdžŵŽŶƚŚƐĞŶĚĞĚϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϮϰ
;ŵŽƵŶƚƐŝŶZƐ͘ůĂŬŚƐƵŶůĞƐƐŽƚŚĞƌǁŝƐĞƐƚĂƚĞĚͿ
YƵĂƌƚĞƌĞŶĚĞĚ YƵĂƌƚĞƌĞŶĚĞĚ YƵĂƌƚĞƌĞŶĚĞĚ ^ŝdžŵŽŶƚŚƐĞŶĚĞĚ ^ŝdžŵŽŶƚŚƐĞŶĚĞĚ zĞĂƌĞŶĚĞĚ
ϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ ϯϬƚŚ:ƵŶĞ͕ ϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ ϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ ϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ ϯϭƐƚDĂƌĐŚ͕
WĂƌƚŝĐƵůĂƌƐ ϮϬϮϰ ϮϬϮϰ ϮϬϮϯ ϮϬϮϰ ϮϬϮϯ ϮϬϮϰ

hŶĂƵĚŝƚĞĚ hŶĂƵĚŝƚĞĚ hŶĂƵĚŝƚĞĚ hŶĂƵĚŝƚĞĚ hŶĂƵĚŝƚĞĚ ƵĚŝƚĞĚ

^ĞŐŵĞŶƚZĞǀĞŶƵĞ
tŝƌĞΘtŝƌĞZŽƉĞƐ  ϴϲ͕ϲϯϴ  ϳϵ͕ϯϴϬ  ϳϰ͕ϳϭϮ ϭ͕ϲϲ͕Ϭϭϴ  ϭ͕ϱϮ͕ϭϯϭ  ϯ͕Ϭϴ͕ϵϴϱ
KƚŚĞƌƐ  Ϯ͕ϰϳϵ  ϯ͕Ϯϱϳ  ϯ͕ϳϱϴ  ϱ͕ϳϯϲ  ϳ͕ϳϳϳ ϭϯ͕ϱϯϱ
ZĞǀĞŶƵĞĨƌŽŵŽƉĞƌĂƚŝŽŶƐ ϴϵ͕ϭϭϳ ϴϮ͕ϲϯϳ ϳϴ͕ϰϳϬ  ϭ͕ϳϭ͕ϳϱϰ ϭ͕ϱϵ͕ϵϬϴ ϯ͕ϮϮ͕ϱϮϬ

^ĞŐŵĞŶƚZĞƐƵůƚƐ
WƌŽĨŝƚĨŽƌƚŚĞƉĞƌŝŽĚďĞĨŽƌĞƚĂdžĂŶĚĨŝŶĂŶĐĞĐŽƐƚƐ
tŝƌĞΘtŝƌĞZŽƉĞƐ  ϭϱ͕ϯϰϯ  ϭϰ͕ϴϰϱ  ϭϱ͕ϰϮϮ  ϯϬ͕ϭϴϴ  Ϯϵ͕ϰϬϭ ϲϬ͕ϯϬϭ
KƚŚĞƌƐ ;ϯϰͿ Ϯϲϱ ϰϮϳ  Ϯϯϭ ϳϴϲ  ϭ͕ϯϴϳ
dŽƚĂů ϭϱ͕ϯϬϵ ϭϱ͕ϭϭϬ ϭϱ͕ϴϰϵ ϯϬ͕ϰϭϵ ϯϬ͕ϭϴϳ ϲϭ͕ϲϴϴ
>ĞƐƐ͗
&ŝŶĂŶĐĞĐŽƐƚƐ ϳϲϳ ϲϲϳ ϲϰϬ  ϭ͕ϰϯϰ  ϭ͕ϭϵϮ  Ϯ͕ϰϳϴ
KƚŚĞƌhŶĂůůŽĐĂďůĞdžƉĞŶĚŝƚƵƌĞͬ;/ŶĐŽŵĞͿ;EĞƚͿ ϴϮϲ  ϭ͕ϯϴϮ  ϭ͕Ϭϴϲ  Ϯ͕ϮϬϴ  Ϯ͕Ϯϱϵ  ϱ͕ϱϬϰ
dŽƚĂůWƌŽĨŝƚďĞĨŽƌĞƚĂdžĂŶĚƐŚĂƌĞŽĨƉƌŽĨŝƚŽĨũŽŝŶƚǀĞŶƚƵƌĞƐ  ϭϯ͕ϳϭϲ  ϭϯ͕Ϭϲϭ  ϭϰ͕ϭϮϯ Ϯϲ͕ϳϳϳ  Ϯϲ͕ϳϯϲ ϱϯ͕ϳϬϲ

^ĞŐŵĞŶƚƐƐĞƚƐ
tŝƌĞΘtŝƌĞZŽƉĞƐ  ϯ͕Ϯϳ͕Ϯϲϳ  ϯ͕Ϭϳ͕ϯϯϱ  Ϯ͕ϳϲ͕Ϭϯϱ ϯ͕Ϯϳ͕Ϯϲϳ  Ϯ͕ϳϲ͕Ϭϯϱ  Ϯ͕ϵϲ͕ϭϱϯ
KƚŚĞƌƐ  ϳ͕ϳϭϯ  ϴ͕ϳϳϰ  ϴ͕ϲϰϭ  ϳ͕ϳϭϯ  ϴ͕ϲϰϭ  ϳ͕ϳϭϮ
hŶĂůůŽĐĂƚĞĚ  ϯϭ͕ϬϱϮ  ϯϱ͕ϵϰϰ  Ϯϵ͕ϴϲϭ  ϯϭ͕ϬϱϮ  Ϯϵ͕ϴϲϭ Ϯϵ͕ϭϰϴ
dŽƚĂůƐƐĞƚƐ  ϯ͕ϲϲ͕ϬϯϮ  ϯ͕ϱϮ͕Ϭϱϯ  ϯ͕ϭϰ͕ϱϯϳ  ϯ͕ϲϲ͕ϬϯϮ  ϯ͕ϭϰ͕ϱϯϳ  ϯ͕ϯϯ͕Ϭϭϯ

^ĞŐŵĞŶƚ>ŝĂďŝůŝƚŝĞƐ
tŝƌĞΘtŝƌĞZŽƉĞƐ  ϰϵ͕ϰϵϵ  ϰϲ͕ϬϱϮ  ϰϮ͕ϭϲϴ  ϰϵ͕ϰϵϵ  ϰϮ͕ϭϲϴ ϰϱ͕ϬϴϮ
KƚŚĞƌƐ  Ϯ͕ϬϮϳ  Ϯ͕ϵϳϯ  ϯ͕ϭϴϮ  Ϯ͕ϬϮϳ  ϯ͕ϭϴϮ  Ϯ͕ϲϵϲ
hŶĂůůŽĐĂƚĞĚ  ϱϲ͕ϱϯϯ  ϱϰ͕ϮϬϳ  ϱϯ͕ϰϱϬ  ϱϲ͕ϱϯϯ  ϱϯ͕ϰϱϬ ϰϲ͕ϴϰϰ
dŽƚĂů>ŝĂďŝůŝƚŝĞƐ  ϭ͕Ϭϴ͕Ϭϱϵ  ϭ͕Ϭϯ͕ϮϯϮ  ϵϴ͕ϴϬϬ  ϭ͕Ϭϴ͕Ϭϱϵ  ϵϴ͕ϴϬϬ ϵϰ͕ϲϮϮ

EŽƚĞ͗
dŚĞ'ƌŽƵƉŚĂƐďĞĞŶŽƌŐĂŶŝƐĞĚŝŶƚŽďƵƐŝŶĞƐƐƵŶŝƚƐďĂƐĞĚŽŶŝƚƐƉƌŽĚƵĐƚƐĂŶĚƐĞƌǀŝĐĞƐĂŶĚŚĂƐƚǁŽƌĞƉŽƌƚĂďůĞƐĞŐŵĞŶƚƐǁŚŝĐŚĂƌĞĂƐĨŽůůŽǁƐ͗
;ĂͿtŝƌĞΘtŝƌĞZŽƉĞƐƐĞŐŵĞŶƚǁŚŝĐŚŵĂŶƵĨĂĐƚƵƌĞƐĂŶĚƐĞůůƐƐƚĞĞůǁŝƌĞƐ͕ƐƚƌĂŶĚƐ͕ǁŝƌĞƌŽƉĞƐ͕ĐŽƌĚƐ͕ƌĞůĂƚĞĚĂĐĐĞƐƐŽƌŝĞƐ͕ǁŝƌĞĚƌĂǁŝŶŐĂŶĚĂůůŝĞĚŵĂĐŚŝŶĞƐ͕ĞƚĐ͘
;ďͿKƚŚĞƌƐƐĞŐŵĞŶƚǁŚŝĐŚŵĂŶƵĨĂĐƚƵƌĞƐĂŶĚƐĞůůƐ:ĞůůLJ&ŝůůĞĚΘKƉƚŝĐĂů&ŝďƌĞdĞůĞĐŽŵŵƵŶŝĐĂƚŝŽŶĂďůĞƐ͘

h^,DZd/E>/D/d
ZĞŐŝƐƚĞƌĞĚĂŶĚŽƌƉŽƌĂƚĞKĨĨŝĐĞ͗Ϯ͕^ŚĂŬĞƐƉĞĂƌĞ^ĂƌĂŶŝ͕<ŽůŬĂƚĂͲϳϬϬϬϳϭ͕/ŶĚŝĂ
WŚŽŶĞ͗ϬϯϯͲϳϭϬϬϲϯϬϬ͖&Ădž͗ϬϯϯͲϳϭϬϬϲϰϭϱ
tĞďƐŝƚĞ͗ǁǁǁ͘ƵƐŚĂŵĂƌƚŝŶ͘ĐŽŵ
ŵĂŝů͗ŝŶǀĞƐƚŽƌΛƵƐŚĂŵĂƌƚŝŶ͘ĐŽ͘ŝŶ
/E͗>ϯϭϰϬϬtϭϵϴϲW>ϬϵϭϲϮϭ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂůZĞƐƵůƚƐ

ϰ͘ dŚĞ ĂďŽǀĞ ĐŽŶƐŽůŝĚĂƚĞĚ ƌĞƐƵůƚƐ ŽĨ hƐŚĂ DĂƌƚŝŶ >ŝŵŝƚĞĚ ;͞ƚŚĞ ŽŵƉĂŶLJ͟Ϳ ĂŶĚ ŝƚƐ ƚǁĞŶƚLJ ƐƵďƐŝĚŝĂƌŝĞƐ ;ŝŶĐůƵĚŝŶŐ ƚǁĞůǀĞ ƐƚĞƉͲĚŽǁŶ ƐƵďƐŝĚŝĂƌŝĞƐͿ
;ƚŽŐĞƚŚĞƌ ƌĞĨĞƌƌĞĚ ĂƐ ΖƚŚĞ 'ƌŽƵƉΖͿ ĂŶĚ ƚǁŽ ũŽŝŶƚ ǀĞŶƚƵƌĞƐ ĨŽƌ ƚŚĞ ƋƵĂƌƚĞƌ ĂŶĚ Ɛŝdž ŵŽŶƚŚƐ ĞŶĚĞĚ ^ĞƉƚĞŵďĞƌ ϯϬ͕ ϮϬϮϰ ŚĂǀĞ ďĞĞŶ ƌĞǀŝĞǁĞĚ ďLJ ƚŚĞ ƵĚŝƚ
ŽŵŵŝƚƚĞĞĂŶĚĂƉƉƌŽǀĞĚďLJƚŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐĂƚƚŚĞŝƌƌĞƐƉĞĐƚŝǀĞŵĞĞƚŝŶŐƐŚĞůĚĂƚ<ŽůŬĂƚĂŽŶEŽǀĞŵďĞƌϬϲ͕ϮϬϮϰ͘

ϱ͘ dŚĞ ƵŶĂƵĚŝƚĞĚ ĐŽŶƐŽůŝĚĂƚĞĚ ĨŝŶĂŶĐŝĂů ƌĞƐƵůƚƐ ŚĂǀĞ ďĞĞŶ ƉƌĞƉĂƌĞĚ ŝŶ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ ƚŚĞ ƌĞĐŽŐŶŝƚŝŽŶ ĂŶĚ ŵĞĂƐƵƌĞŵĞŶƚ ƉƌŝŶĐŝƉůĞƐ ƉƌŽǀŝĚĞĚ ŝŶ /ŶĚŝĂŶ
ĐĐŽƵŶƚŝŶŐ ^ƚĂŶĚĂƌĚ ;/ŶĚ ^Ϳ ϯϰ ŽŶ Ζ/ŶƚĞƌŝŵ &ŝŶĂŶĐŝĂů ZĞƉŽƌƚŝŶŐΖ͕ ƚŚĞ ƉƌŽǀŝƐŝŽŶƐ ŽĨ ƚŚĞ ŽŵƉĂŶŝĞƐ Đƚ͕ ϮϬϭϯ͕ ĂƐ ĂƉƉůŝĐĂďůĞ ĂŶĚ ŐƵŝĚĞůŝŶĞƐ ŝƐƐƵĞĚ ďLJ
ƚŚĞ^ĞĐƵƌŝƚŝĞƐĂŶĚdžĐŚĂŶŐĞŽĂƌĚŽĨ/ŶĚŝĂ;^/ͿƵŶĚĞƌ^/;>ŝƐƚŝŶŐKďůŝŐĂƚŝŽŶƐĂŶĚŝƐĐůŽƐƵƌĞZĞƋƵŝƌĞŵĞŶƚƐͿZĞŐƵůĂƚŝŽŶϮϬϭϱ͕ĂƐĂŵĞŶĚĞĚ͘

ϲ͘ WƵƌƐƵĂŶƚ ƚŽ ƚŚĞ ƵƐŝŶĞƐƐ dƌĂŶƐĨĞƌ ŐƌĞĞŵĞŶƚ ĚĂƚĞĚ ^ĞƉƚĞŵďĞƌ ϮϮ͕ ϮϬϭϴ ;EŽǀĂƚŝŽŶ ĂŐƌĞĞŵĞŶƚ ŽŶ KĐƚŽďĞƌ Ϯϰ͕ ϮϬϭϴͿ ĂŶĚ ^ƵƉƉůĞŵĞŶƚĂů ƵƐŝŶĞƐƐ
dƌĂŶƐĨĞƌ ŐƌĞĞŵĞŶƚ ĚĂƚĞĚ Ɖƌŝů ϳ͕ ϮϬϭϵ ĂŶĚ :ƵůLJ ϯ͕ ϮϬϭϵ ƌĞƐƉĞĐƚŝǀĞůLJ ǁŝƚŚ dĂƚĂ ^ƚĞĞů >ŽŶŐ WƌŽĚƵĐƚƐ >ŝŵŝƚĞĚ ;d^>W>Ϳ ΀ĨŽƌŵĞƌůLJ ŬŶŽǁŶ ĂƐ dĂƚĂ ^ƉŽŶŐĞ
/ƌŽŶ >ŝŵŝƚĞĚ΁͕ ƚŚĞ ŽŵƉĂŶLJ ŚĂĚ ƚƌĂŶƐĨĞƌƌĞĚ ŝƚƐ ^ƚĞĞů ĂŶĚ ƌŝŐŚƚ Ăƌ ƵƐŝŶĞƐƐ ;^ ƵƐŝŶĞƐƐͿ ĂƐ Ă ŐŽŝŶŐ ĐŽŶĐĞƌŶ ŽŶ ƐůƵŵƉ ƐĂůĞ ďĂƐŝƐ ĚƵƌŝŶŐ Ă ƉƌŝŽƌ LJĞĂƌ
ŝŶ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ ƚŚĞ ƚĞƌŵƐ ĂŶĚ ĐŽŶĚŝƚŝŽŶƐ ƐĞƚ ŽƵƚ ŝŶ ƚŚŽƐĞ ĂŐƌĞĞŵĞŶƚƐ͘ Ŷ ĂŵŽƵŶƚ ŽĨ ZƐ͘ ϳ͕ϰϰϲ ůĂŬŚƐ ;ŶĞƚ ŽĨ ǁŽƌŬŝŶŐ ĐĂƉŝƚĂů ĂĚũƵƐƚŵĞŶƚ ŽĨ ZƐ͘ ϲϮϳ
ůĂŬŚƐͿ ŝƐ ƌĞĐĞŝǀĂďůĞ ĂƐ Ăƚ Ɛŝdž ŵŽŶƚŚƐ ĞŶĚĞĚ ^ĞƉƚĞŵďĞƌ ϯϬ͕ ϮϬϮϰ͕ ƉĞŶĚŝŶŐ ƌĞŐŝƐƚƌĂƚŝŽŶ ŽĨ ĐĞƌƚĂŝŶ ƉĂƌĐĞůƐ ŽĨ ůĂŶĚ ŝŶ ƚŚĞ ŶĂŵĞ ŽĨ d^>W> ĨŽƌ ǁŚŝĐŚ
ƉĞƌƉĞƚƵĂůůĞĂƐĞĂŶĚůŝĐĞŶƐĞĂŐƌĞĞŵĞŶƚƐŚĂĚďĞĞŶĞdžĞĐƵƚĞĚďLJƚŚĞŽŵƉĂŶLJŝŶĨĂǀŽƵƌŽĨd^>W>͘

ϳ;ĂͿ͘ dŚĞ ŝƌĞĐƚŽƌĂƚĞ ŽĨ ŶĨŽƌĐĞŵĞŶƚ ;ΗΗͿ ŚĂĚ ŝƐƐƵĞĚ ĂŶ ŽƌĚĞƌ ĚĂƚĞĚ ƵŐƵƐƚ ϵ͕ ϮϬϭϵ ƵŶĚĞƌ ƚŚĞ ƉƌŽǀŝƐŝŽŶƐ ŽĨ WƌĞǀĞŶƚŝŽŶ ŽĨ DŽŶĞLJ >ĂƵŶĚĞƌŝŶŐ Đƚ͕ ϮϬϬϮ
;WD>Ϳ ƚŽ ƉƌŽǀŝƐŝŽŶĂůůLJ ĂƚƚĂĐŚ ĐĞƌƚĂŝŶ ƉĂƌĐĞůƐ ŽĨ ůĂŶĚ Ăƚ ZĂŶĐŚŝ͕ ^ƚĂƚĞ ŽĨ :ŚĂƌŬŚĂŶĚ ďĞŝŶŐ ƵƐĞĚ ďLJ ƚŚĞ ŽŵƉĂŶLJ ĨŽƌ ŝƚƐ ďƵƐŝŶĞƐƐ ĨŽƌ Ă ƉĞƌŝŽĚ ŽĨ ϭϴϬ
ĚĂLJƐ ŝŶ ĐŽŶŶĞĐƚŝŽŶ ǁŝƚŚ ĞdžƉŽƌƚ ĂŶĚ ĚŽŵĞƐƚŝĐ ƐĂůĞ ŽĨ ŝƌŽŶ ŽƌĞ ĨŝŶĞƐ ŝŶ ƉƌŝŽƌ LJĞĂƌƐ ĂŐŐƌĞŐĂƚŝŶŐ ZƐ͘ ϭϵ͕Ϭϯϳ ůĂŬŚƐ ĂůůĞŐĞĚůLJ ŝŶ ĐŽŶƚƌĂǀĞŶƚŝŽŶ ŽĨ ƚĞƌŵƐ ŽĨ
ƚŚĞ ŵŝŶŝŶŐ ůĞĂƐĞ ŐƌĂŶƚĞĚ ƚŽ ƚŚĞ ŽŵƉĂŶLJ ĨŽƌ ƚŚĞ ŝƌŽŶ ŽƌĞ ŵŝŶĞƐ ƐŝƚƵĂƚĞĚ Ăƚ 'ŚĂƚŬƵƌŝ͕ :ŚĂƌŬŚĂŶĚ͘ dŚĞ ,ŽŶΖďůĞ ,ŝŐŚ ŽƵƌƚ ŽĨ :ŚĂƌŬŚĂŶĚ Ăƚ ZĂŶĐŚŝ ŚĂĚ͕
ǀŝĚĞ ŽƌĚĞƌ ĚĂƚĞĚ &ĞďƌƵĂƌLJ ϭϰ͕ ϮϬϭϮ͕ ŚĞůĚ ƚŚĂƚ ƚŚĞ ŽŵƉĂŶLJ ŚĂƐ ƚŚĞ ƌŝŐŚƚ ƚŽ ƐĞůů ƚŚĞ ŝƌŽŶ ŽƌĞ ŝŶĐůƵĚŝŶŐ ĨŝŶĞƐ ĂƐ ƉĞƌ ƚŚĞ ƚĞƌŵƐ ŽĨ ƚŚĞ ŵŝŶŝŶŐ ůĞĂƐĞ
ǁŚŝĐŚ ǁĂƐ ŝŶ ƉůĂĐĞ Ăƚ ƚŚĂƚ ƉŽŝŶƚ ŝŶ ƚŝŵĞ͘ dŚĞ ŽŵƉĂŶLJ ŚĂĚ ƉĂŝĚ ĂƉƉůŝĐĂďůĞ ƌŽLJĂůƚLJ ĂŶĚ ŚĂĚ ŵĂĚĞ ŶĞĐĞƐƐĂƌLJ ĚŝƐĐůŽƐƵƌĞƐ ŝŶ ŝƚƐ ƌĞƚƵƌŶƐ ĂŶĚ ƌĞƉŽƌƚƐ
ƐƵďŵŝƚƚĞĚ ƚŽ ŵŝŶŝŶŐ ĂƵƚŚŽƌŝƚŝĞƐ͘ /Ŷ ƌĞƐƉŽŶƐĞ ƚŽ ƚŚĞ ƉƌŽǀŝƐŝŽŶĂů ĂƚƚĂĐŚŵĞŶƚ ŽƌĚĞƌ͕ ƚŚĞ ŽŵƉĂŶLJ ŚĂĚ ƐƵďŵŝƚƚĞĚ ŝƚƐ ƌĞƉůLJ ďĞĨŽƌĞ ƚŚĞ ĚũƵĚŝĐĂƚŝŶŐ
ƵƚŚŽƌŝƚLJ ;Ϳ͘ ^ƵďƐĞƋƵĞŶƚůLJ͕  ŚĂĚ ŝƐƐƵĞĚ ĂŶ ŽƌĚĞƌ ďLJ ǁĂLJ ŽĨ ǁŚŝĐŚ ƚŚĞ ƉƌŽǀŝƐŝŽŶĂů ĂƚƚĂĐŚŵĞŶƚ ǁĂƐ ĐŽŶĨŝƌŵĞĚ ƵŶĚĞƌ ^ĞĐƚŝŽŶ ϴ;ϯͿ ŽĨ WD>͘
dŚĞƌĞĂĨƚĞƌ͕ ƚŚĞ ŽŵƉĂŶLJ ĨŝůĞĚ ĂŶ ĂƉƉĞĂů ďĞĨŽƌĞ ƚŚĞ ƉƉĞůůĂƚĞ dƌŝďƵŶĂů͕ EĞǁ ĞůŚŝ ĂŶĚ ƐƵĐĐĞƐƐĨƵůůLJ ŽďƚĂŝŶĞĚ Ă ƐƚĂƚƵƐ ƋƵŽ ŽƌĚĞƌ ĨƌŽŵ ƚŚĞ dƌŝďƵŶĂů ŽŶ
ƚŚĞ ĐŽŶĨŝƌŵĞĚ ĂƚƚĂĐŚŵĞŶƚ ŽƌĚĞƌ ǁŚŝĐŚ ĐŽŶƚŝŶƵĞƐ ƚŝůů ƚŚĞ ŶĞdžƚ ĚĂƚĞ ŽĨ ŚĞĂƌŝŶŐ ƚŚĂƚ ŝƐ ŶŽǁ ĨŝdžĞĚ ŽŶ EŽǀĞŵďĞƌ Ϯϳ͕ ϮϬϮϰ͘ dŚĞ  ŚĂĚ ĨŝůĞĚ Ă ĐŽŵƉůĂŝŶƚ
ďĞĨŽƌĞ ƚŚĞ ŝƐƚƌŝĐƚ ĂŶĚ ^ĞƐƐŝŽŶƐ :ƵĚŐĞ Ƶŵ ^ƉĞĐŝĂů :ƵĚŐĞ͕ ZĂŶĐŚŝ ;dƌŝĂů ŽƵƌƚ͕ ZĂŶĐŚŝͿ͕ ƉƵƌƐƵĂŶƚ ƚŽ ǁŚŝĐŚ ƐƵŵŵŽŶŝŶŐ ŽƌĚĞƌƐ ĚĂƚĞĚ DĂLJ ϮϬ͕ ϮϬϮϭ
ǁĞƌĞ ŝƐƐƵĞĚ ƚŽ ƚŚĞ ŽŵƉĂŶLJ ĂŶĚ ŽŶĞ ŽĨ ŝƚƐ KĨĨŝĐĞƌƐ͘ /Ŷ ƌĞƐƉŽŶƐĞ ƚŽ ƚŚĞ ƐĂŝĚ ĐŽŵƉůĂŝŶƚ ĂŶĚ ƐƵŵŵŽŶƐ ƌĞĐĞŝǀĞĚ͕ ƚŚĞ ŽŵƉĂŶLJ ŚĂĚ ĨŝůĞĚ Ă ƋƵĂƐŚŝŶŐ
ƉĞƚŝƚŝŽŶ ďĞĨŽƌĞ ƚŚĞ ,ŽŶΖďůĞ :ŚĂƌŬŚĂŶĚ ,ŝŐŚ ŽƵƌƚ ĂŶĚ Ă ƐƵďƐĞƋƵĞŶƚ ^ƉĞĐŝĂů >ĞĂǀĞ WĞƚŝƚŝŽŶ ;͚^>W͛Ϳ ďĞĨŽƌĞ ƚŚĞ ,ŽŶ͛ďůĞ ^ƵƉƌĞŵĞ ŽƵƌƚ ĂŐĂŝŶƐƚ ƚŚĞ
ŽƌĚĞƌ ŽĨ ƚŚĞ ,ŽŶ͛ďůĞ :ŚĂƌŬŚĂŶĚ ,ŝŐŚ ŽƵƌƚ ĚŝƐŵŝƐƐŝŶŐ ƚŚĞ ŽŵƉĂŶLJ͛Ɛ ƋƵĂƐŚŝŶŐ ƉĞƚŝƚŝŽŶ͘ sŝĚĞ ŝŶƚĞƌŝŵ ŽƌĚĞƌ ĚĂƚĞĚ ĞĐĞŵďĞƌ ϭϱ͕ ϮϬϮϭ͕ ƚŚĞ ,ŽŶ͛ďůĞ
^ƵƉƌĞŵĞ ŽƵƌƚ ŚĂĚ ŐƌĂŶƚĞĚ ƉƌŽƚĞĐƚŝŽŶ ƚŽ ƚŚĞ ŽŵƉĂŶLJ ĨƌŽŵ ĂƌƌĞƐƚ ĂŶĚ ƐƚĂLJĞĚ ƚŚĞ ƐƵŵŵŽŶŝŶŐ ŽƌĚĞƌƐ ŝƐƐƵĞĚ ďLJ ƚŚĞ dƌŝĂů ŽƵƌƚ͕ ZĂŶĐŚŝ͘ dŚĞ ,ŽŶ͛ďůĞ
^ƵƉƌĞŵĞ ŽƵƌƚ ǀŝĚĞ ŽƌĚĞƌ ĚĂƚĞĚ ^ĞƉƚĞŵďĞƌ Ϯϴ͕ ϮϬϮϮ ŚĂĚ ĚŝƐŵŝƐƐĞĚ ƚŚĞ ^>W ǁŝƚŚ ƚŚĞ ĚŝƌĞĐƚŝŽŶƐ ƚŽ ƚŚĞ ŽŵƉĂŶLJ ƚŽ ƉƌĞƐĞŶƚ Ăůů ŝƚƐ ĚĞĨĞŶĐĞƐ ͞ǁŚŝĐŚ ĂƌĞ
ƌĞƋƵŝƌĞĚ ƚŽ ďĞ ĐŽŶƐŝĚĞƌĞĚ ĂŶĚ ĚĞĂůƚ ǁŝƚŚ Ăƚ ƚŚĞ ƚŝŵĞ ŽĨ ƚƌŝĂů͟ ďĞĨŽƌĞ ƚŚĞ ĂĨŽƌĞƐĂŝĚ dƌŝĂů ŽƵƌƚ͕ ZĂŶĐŚŝ͘ dŚĞ ŵĂƚƚĞƌ Ăƚ ƚŚĞ dƌŝĂů ŽƵƌƚ͕ ZĂŶĐŚŝ ŝƐ
ƐĐŚĞĚƵůĞĚƚŽďĞŚĞĂƌĚŽŶEŽǀĞŵďĞƌϮϱ͕ϮϬϮϰ͘

dŚĞ ŽŶŐŽŝŶŐ ŽƉĞƌĂƚŝŽŶƐ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ŚĂǀĞ ŶŽƚ ďĞĞŶ ĂĨĨĞĐƚĞĚ ďLJ ƚŚĞ ĂĨŽƌĞƐĂŝĚ ƉƌŽĐĞĞĚŝŶŐƐ͘ ^ƵƉƉŽƌƚĞĚ ďLJ Ă ůĞŐĂů ŽƉŝŶŝŽŶ ŽďƚĂŝŶĞĚ͕ ŵĂŶĂŐĞŵĞŶƚ
ďĞůŝĞǀĞƐ ƚŚĂƚ ƚŚĞ ŽŵƉĂŶLJ ŚĂƐ Ă ƐƚƌŽŶŐ ĐĂƐĞ ŝŶ ŝƚƐ ĨĂǀŽƵƌ ŽŶ ŵĞƌŝƚ ĂŶĚ ůĂǁ͘ ĐĐŽƌĚŝŶŐůLJ͕ ŶŽ ĂĚũƵƐƚŵĞŶƚ ƚŽ ƚŚĞƐĞ ĐŽŶƐŽůŝĚĂƚĞĚ ĨŝŶĂŶĐŝĂů ƌĞƐƵůƚƐ ŝŶ ƚŚŝƐ
ƌĞŐĂƌĚŚĂǀĞďĞĞŶĐŽŶƐŝĚĞƌĞĚŶĞĐĞƐƐĂƌLJďLJƚŚĞŵĂŶĂŐĞŵĞŶƚ͘
ϳ;ďͿ͘ KŶ KĐƚŽďĞƌ Ϯ͕ ϮϬϮϬ͕ ĞŶƚƌĂů ƵƌĞĂƵ ŽĨ /ŶǀĞƐƚŝŐĂƚŝŽŶ ;/Ϳ ŚĂĚ ĨŝůĞĚ Ă &ŝƌƐƚ /ŶĨŽƌŵĂƚŝŽŶ ZĞƉŽƌƚ ;&/ZͿ ĂŐĂŝŶƐƚ ƚŚĞ ŽŵƉĂŶLJ͕ ŝƚƐ DĂŶĂŐŝŶŐ ŝƌĞĐƚŽƌ ;DͿ
ĂŶĚ ĐĞƌƚĂŝŶ KƚŚĞƌ KĨĨŝĐĞƌƐ ƵŶĚĞƌ ƚŚĞ WƌĞǀĞŶƚŝŽŶ ŽĨ ŽƌƌƵƉƚŝŽŶ Đƚ͕ ϭϵϴϴ ĂŶĚ ƚŚĞ /ŶĚŝĂŶ WĞŶĂů ŽĚĞ͕ ϭϴϲϬ ďĞĨŽƌĞ ƚŚĞ ^ƉĞĐŝĂů :ƵĚŐĞ͕ /͕ EĞǁ ĞůŚŝ
;/ ŽƵƌƚ͕ EĞǁ ĞůŚŝͿ ĨŽƌ ĂůůĞŐĞĚůLJ ƚƌLJŝŶŐ ƚŽ ŝŶĨůƵĞŶĐĞ ŽŶŐŽŝŶŐ / ŝŶǀĞƐƚŝŐĂƚŝŽŶ ƉĞƌƚĂŝŶŝŶŐ ƚŽ ƚŚĞ ƉƌŽĐĞĞĚŝŶŐƐ ŵĞŶƚŝŽŶĞĚ ŝŶ ŶŽƚĞ ϳ;ĂͿ ĂďŽǀĞ͘ sŝĚĞ
ŽƌĚĞƌ ĚĂƚĞĚ ^ĞƉƚĞŵďĞƌ ϭϱ͕ ϮϬϮϮ͕ ƚŚĞ / ŽƵƌƚ͕ EĞǁ ĞůŚŝ ŚĂĚ ƚĂŬĞŶ ĐŽŐŶŝnjĂŶĐĞ ŽĨ ƚŚĞ ŽĨĨĞŶĐĞ ďĂƐĞĚ ŽŶ ŝŶƚĞƌŝŵ ĐŚĂƌŐĞ ƐŚĞĞƚ ĨŝůĞĚ ďLJ ƚŚĞ /
ĂŐĂŝŶƐƚ ƚŚĞ ŽŵƉĂŶLJ͕ ŝƚƐ D ĂŶĚ ĐĞƌƚĂŝŶ KƚŚĞƌ KĨĨŝĐĞƌƐ ĂŶĚ ŚĂƐ ĚŝƌĞĐƚĞĚ ƚŚĞ / ƚŽ ƚĂŬĞ ƐƵĐŚ ƐƚĞƉƐ ĂƐ ŵĂLJ ďĞ ŶĞĐĞƐƐĂƌLJ ƚŽ ĐŽŵƉůĞƚĞ ƚŚĞ
ŝŶǀĞƐƚŝŐĂƚŝŽŶ͘ dŚĞ ŽŵƉĂŶLJ ƐƚƌŽŶŐůLJ ƌĞĨƵƚĞƐ ƚŚĞ ĂĨŽƌĞƐĂŝĚ ĂůůĞŐĂƚŝŽŶƐ ŵĂĚĞ ďLJ ƚŚĞ /͘ dŚĞ ŽŵƉĂŶLJ ŚĂƐ ƌĞĐĞŝǀĞĚ ŝŶƚŝŵĂƚŝŽŶ ĨƌŽŵ ƚŚĞ ŝƌĞĐƚŽƌĂƚĞ ŽĨ
ŶĨŽƌĐĞŵĞŶƚ ;Ϳ ƌĞŐĂƌĚŝŶŐ ƐƵŵŵŽŶƐ ŝƐƐƵĞĚ ŽŶ ƚŚŝƐ ŵĂƚƚĞƌ ďLJ ƚŚĞ ^ƉĞĐŝĂů :ƵĚŐĞ͕ ;W ĐƚͿ /͕ EĞǁ ĞůŚŝ͕ ƵŶĚĞƌ ƚŚĞ ƉƌŽǀŝƐŝŽŶƐ ŽĨ WD> ĂŶĚ ƚŚĞ
ŵĂƚƚĞƌŝƐƐĐŚĞĚƵůĞĚƚŽďĞŚĞĂƌĚŽŶĞĐĞŵďĞƌϳ͕ϮϬϮϰ͘

dŚĞ ŽŵƉĂŶLJ ŚĂƐ ďĞĞŶ ƉƌŽǀŝĚŝŶŐ ŝŶĨŽƌŵĂƚŝŽŶ ƐŽƵŐŚƚ ďLJ ƚŚĞ / ĂŶĚ  ŝŶ ƚŚŝƐ ƌĞŐĂƌĚ ĂŶĚ ŝŶƚĞŶĚƐ ƚŽ ĐŽŶƚŝŶƵĞ ĐŽŽƉĞƌĂƚŝŶŐ͕ ĂƐ ƌĞƋƵŝƌĞĚ ďLJ ĂƉƉůŝĐĂďůĞ
ůĂǁƐ ĂŶĚ ƌĞůĞǀĂŶƚ ĐŽƵƌƚ ŽƌĚĞƌƐ͘ dŚĞ ŽŵƉĂŶLJ ĂŶĚ ŝƚƐ D ŝƐ ƚĂŬŝŶŐ ƐƵĐŚ ůĞŐĂů ŵĞĂƐƵƌĞƐ ĂƐ ĐŽŶƐŝĚĞƌĞĚ ŶĞĐĞƐƐĂƌLJ ŝŶ ƌĞƐƉĞĐƚ ŽĨ ƚŚĞƐĞ ŽŶŐŽŝŶŐ
ƉƌŽĐĞĞĚŝŶŐƐ͘ ^ƵƉƉŽƌƚĞĚ ďLJ Ă ůĞŐĂů ŽƉŝŶŝŽŶ ŽďƚĂŝŶĞĚ͕ ŵĂŶĂŐĞŵĞŶƚ ďĞůŝĞǀĞƐ ƚŚĂƚ ƚŚĞ ŽŵƉĂŶLJ ŚĂƐ Ă ƐƚƌŽŶŐ ĐĂƐĞ ŝŶ ŝƚƐ ĨĂǀŽƵƌ ŽŶ ŵĞƌŝƚ ĂŶĚ ůĂǁ ŝŶ ƚŚĞƐĞ
ŵĂƚƚĞƌƐ͘ĐĐŽƌĚŝŶŐůLJ͕ŶŽĂĚũƵƐƚŵĞŶƚƚŽƚŚĞƐĞĐŽŶƐŽůŝĚĂƚĞĚĨŝŶĂŶĐŝĂůƌĞƐƵůƚƐŝŶƚŚŝƐƌĞŐĂƌĚŚĂǀĞďĞĞŶĐŽŶƐŝĚĞƌĞĚŶĞĐĞƐƐĂƌLJďLJƚŚĞŵĂŶĂŐĞŵĞŶƚ͘

ϴ͘ ƵƌŝŶŐ ƚŚĞ ƉĞƌŝŽĚ͕ hƐŚĂ DĂƌƚŝŶ ŚŝŶĂ ŽŵƉĂŶLJ >ŝŵŝƚĞĚ͕ Ă ǁŚŽůůLJ ŽǁŶĞĚ ƐƵďƐŝĚŝĂƌLJ ŽĨ hƐŚĂ DĂƌƚŝŶ ^ŝŶŐĂƉŽƌĞ WƚĞ͘ >ŝŵŝƚĞĚ ͕ Ă ƐƵďƐŝĚŝĂƌLJ ŽĨ ƚŚĞ
ŽŵƉĂŶLJ͕ŚĂƐďĞĞŶĚĞƌĞŐŝƐƚĞƌĞĚĨƌŽŵƚŚĞƌĞĐŽƌĚƐĂŶĚĂĐĐŽƌĚŝŶŐůLJŝƐŶŽƚĨŽƌŵŝŶŐƉĂƌƚŽĨƚŚĞ'ƌŽƵƉ͘

RAJEEV Digitally signed by

RAJEEV JHAWAR

JHAWAR Date: 2024.11.06

17:48:21 +08'00'
ZĂũĞĞǀ:ŚĂǁĂƌ
DĂŶĂŐŝŶŐŝƌĞĐƚŽƌ
ĂƚĞĚ͗EŽǀĞŵďĞƌϬϲ͕ϮϬϮϰ WůĂĐĞ͗^ŝŶŐĂƉŽƌĞ

h^,DZd/E>/D/d
ZĞŐŝƐƚĞƌĞĚĂŶĚŽƌƉŽƌĂƚĞKĨĨŝĐĞ͗Ϯ͕^ŚĂŬĞƐƉĞĂƌĞ^ĂƌĂŶŝ͕<ŽůŬĂƚĂͲϳϬϬϬϳϭ͕/ŶĚŝĂ
WŚŽŶĞ͗ϬϯϯͲϳϭϬϬϲϯϬϬ͖&Ădž͗ϬϯϯͲϳϭϬϬϲϰϭϱ
tĞďƐŝƚĞ͗ǁǁǁ͘ƵƐŚĂŵĂƌƚŝŶ͘ĐŽŵ
ŵĂŝů͗ŝŶǀĞƐƚŽƌΛƵƐŚĂŵĂƌƚŝŶ͘ĐŽ͘ŝŶ
/E͗>ϯϭϰϬϬtϭϵϴϲW>ϬϵϭϲϮϭ
 Charted Accountants
22 Camac Street
3rd Floor, Block B
Kolkata – 700 016, India
Tel: +91 33 6134 4000

Independent Auditor’s Review Report on the Quarterly and Year to Date Unaudited
Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to
The Board of Directors
Usha Martin Limited

1. We have reviewed the accompanying statement of unaudited standalone financial results

of Usha Martin Limited (the “Company”) for the quarter ended September 30, 2024 and
year to date from April 01, 2024 to September 30, 2024 (the “Statement”) attached
herewith, being submitted by the Company pursuant to the requirements of Regulation 33
of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as
amended (the “Listing Regulations”).

2. The Company’s Management is responsible for the preparation of the Statement in

accordance with the recognition and measurement principles laid down in Indian
Accounting Standard 34, (Ind AS 34) “Interim Financial Reporting” prescribed under
Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued
thereunder and other accounting principles generally accepted in India and in compliance
with Regulation 33 of the Listing Regulations. The Statement has been approved by the
Company’s Board of Directors. Our responsibility is to express a conclusion on the
Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review
Engagements (SRE) 2410, “Review of Interim Financial Information Performed by the
Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of
India. This standard requires that we plan and perform the review to obtain moderate
assurance as to whether the Statement is free of material misstatement. A review of
interim financial information consists of making inquiries, primarily of persons responsible
for financial and accounting matters, and applying analytical and other review
procedures. A review is substantially less in scope than an audit conducted in accordance
with Standards on Auditing and consequently does not enable us to obtain assurance
that we would become aware of all significant matters that might be identified in an audit.
Accordingly, we do not express an audit opinion.

4. Based on our review conducted as above, nothing has come to our attention that causes
us to believe that the accompanying Statement, prepared in accordance with the
recognition and measurement principles laid down in the aforesaid Indian Accounting
Standards (‘Ind AS’) specified under Section 133 of the Companies Act, 2013 as
amended, read with relevant rules issued thereunder and other accounting principles
generally accepted in India, has not disclosed the information required to be disclosed in
terms of the Listing Regulations, including the manner in which it is to be disclosed, or
that it contains any material misstatement.
 5. Emphasis of Matter Paragraph

We draw attention to Note 6(a) regarding attachment of certain parcels of land at Ranchi
used by the Company's wire rope business under Prevention of Money Laundering Act,
2002 (PMLA) in connection with export and domestic sale of iron ore fines in prior years
aggregating Rs 19,037 lakhs allegedly in contravention of terms of the mining lease
granted to the Company for the iron ore mines. Pending final outcome of the appeal filed
by the Company before the Appellate Tribunal, PMLA and the on-going proceedings
before the District and Sessions Judge Cum Special Judge, Ranchi, no adjustment to
these standalone financial results in this regard have been considered necessary by the
management.

Further, as explained in Note 6(b), a First Information Report (FIR) has been filed by
Central Bureau of Investigation (CBI) against the Company, its Managing Director and
certain Other Officers under the Prevention of Corruption Act, 1988 and the Indian Penal
Code, 1860 for allegedly trying to influence ongoing CBI investigation pertaining to the
proceedings mentioned in note 6(a). Pursuant to the charge sheet filed by the CBI,
proceedings in this regard are on-going before the Special Judge - CBI, New Delhi. The
Company has also received intimation from Enforcement of Directorate (ED) regarding
summons issued to the Company to answer to a charge under the provisions of PMLA
which, as informed by management pertains to the same matter. The Company intends
to take such legal measures as may be considered necessary in respect of the ongoing
proceedings. Pending final outcome of the ongoing proceedings, no adjustment to these
standalone financial results in this regard have been considered necessary by the
management.

Our conclusion is not modified in respect of these matters.

For S.R. BATLIBOI & Co. LLP

Chartered Accountants
ICAI Firm registration number: 301003E/E300005
Digitally signed by SHIVAM
SHIVAM CHOWDHARY
DN: cn=SHIVAM CHOWDHARY,

CHOWDHARY c=IN, o=Personal,

email=shivam.chowdhary@srb.in
Date: 2024.11.06 15:28:44 +05'30'

___________________________________
per Shivam Chowdhary
Partner
Membership No.: 067077
UDIN: 24067077BKFSGN4238
Place: Kolkata
Date: November 6, 2024
^ƚĂƚĞŵĞŶƚŽĨhŶĂƵĚŝƚĞĚ^ƚĂŶĚĂůŽŶĞ&ŝŶĂŶĐŝĂůZĞƐƵůƚƐĨŽƌƚŚĞƋƵĂƌƚĞƌĂŶĚƐŝdžŵŽŶƚŚƐĞŶĚĞĚϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϮϰ
;ŵŽƵŶƚƐŝŶZƐ͘ůĂŬŚƐƵŶůĞƐƐŽƚŚĞƌǁŝƐĞƐƚĂƚĞĚͿ
YƵĂƌƚĞƌĞŶĚĞĚ YƵĂƌƚĞƌĞŶĚĞĚ YƵĂƌƚĞƌĞŶĚĞĚ ^ŝdžŵŽŶƚŚƐ ^ŝdžŵŽŶƚŚƐ zĞĂƌĞŶĚĞĚ
ϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ ϯϬƚŚ:ƵŶĞ͕ ϯϬƚŚ ĞŶĚĞĚ ĞŶĚĞĚ ϯϭƐƚDĂƌĐŚ͕
WĂƌƚŝĐƵůĂƌƐ ϮϬϮϰ ϮϬϮϰ ^ĞƉƚĞŵďĞƌ͕ ϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ ϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ ϮϬϮϰ
ϮϬϮϯ ϮϬϮϰ ϮϬϮϯ

hŶĂƵĚŝƚĞĚ hŶĂƵĚŝƚĞĚ hŶĂƵĚŝƚĞĚ hŶĂƵĚŝƚĞĚ hŶĂƵĚŝƚĞĚ ƵĚŝƚĞĚ

ϭ ZĞǀĞŶƵĞĨƌŽŵŽƉĞƌĂƚŝŽŶƐ  ϱϰ͕ϳϰϳ  ϱϭ͕ϰϭϭ  ϰϵ͕ϴϯϵ ϭ͕Ϭϲ͕ϭϱϴ  ϵϵ͕ϵϬϯ  Ϯ͕Ϭϰ͕ϲϬϵ
Ϯ KƚŚĞƌŝŶĐŽŵĞ  ϭ͕ϮϮϴ ϯϬϮ  Ϯ͕ϵϱϮ  ϭ͕ϱϯϬ  ϰ͕ϲϳϴ ϲ͕Ϭϭϰ
ϯ dŽƚĂůŝŶĐŽŵĞ΀ϭнϮ΁ ϱϱ͕ϵϳϱ ϱϭ͕ϳϭϯ ϱϮ͕ϳϵϭ ϭ͕Ϭϳ͕ϲϴϴ ϭ͕Ϭϰ͕ϱϴϭ Ϯ͕ϭϬ͕ϲϮϯ
ϰ džƉĞŶƐĞƐ
ĂͿ ŽƐƚŽĨŵĂƚĞƌŝĂůƐĐŽŶƐƵŵĞĚ  ϯϬ͕ϳϳϲ  Ϯϳ͕ϭϯϭ  Ϯϱ͕ϳϲϴ  ϱϳ͕ϵϬϳ  ϱϱ͕ϮϮϯ  ϭ͕Ϭϵ͕ϳϴϯ
ďͿ WƵƌĐŚĂƐĞƐŽĨƐƚŽĐŬͲŝŶͲƚƌĂĚĞ ϮϮϯ ϮϬϱ Ϯϭϲ ϰϮϴ  ϯϱϵ ϭ͕Ϯϭϰ
ĐͿ ŚĂŶŐĞƐŝŶŝŶǀĞŶƚŽƌŝĞƐŽĨĨŝŶŝƐŚĞĚŐŽŽĚƐ͕ǁŽƌŬͲŝŶͲ
ƉƌŽŐƌĞƐƐ͕ƐƚŽĐŬͲŝŶͲƚƌĂĚĞĂŶĚƐĐƌĂƉͬďLJƉƌŽĚƵĐƚ
;ϳϭϯͿ  ;ϯϴͿ  ϵϰϳ ;ϳϱϭͿ  Ϯϯ  ϭ͕ϯϳϳ
ĚͿ ŵƉůŽLJĞĞďĞŶĞĨŝƚƐĞdžƉĞŶƐĞ  ϰ͕ϯϭϲ ϰ͕Ϯϳϵ ϰ͕ϬϬϱ ϴ͕ϱϵϱ ϴ͕ϬϮϮ  ϭϲ͕ϯϬϱ
ĞͿ &ŝŶĂŶĐĞĐŽƐƚƐ Ϯϳϱ  Ϯϭϭ  ϭϴϮ  ϰϴϲ  ϯϬϱ  ϲϳϴ
ĨͿ ĞƉƌĞĐŝĂƚŝŽŶĂŶĚĂŵŽƌƚŝƐĂƚŝŽŶĞdžƉĞŶƐĞ  ϭ͕ϭϯϯ ϭ͕ϬϰϬ  ϳϭϱ Ϯ͕ϭϳϯ ϭ͕ϰϭϬ ϯ͕Ϯϳϰ
ŐͿ KƚŚĞƌĞdžƉĞŶƐĞƐ  ϵ͕ϱϳϲ ϵ͕ϲϵϰ ϴ͕ϵϭϰ  ϭϵ͕ϮϳϬ  ϭϳ͕ϭϳϯ  ϯϱ͕ϵϬϲ
dŽƚĂůĞdžƉĞŶƐĞƐ  ϰϱ͕ϱϴϲ  ϰϮ͕ϱϮϮ  ϰϬ͕ϳϰϳ  ϴϴ͕ϭϬϴ  ϴϮ͕ϱϭϱ ϭ͕ϲϴ͕ϱϯϳ
ϱ WƌŽĨŝƚďĞĨŽƌĞƚĂdž΀ϯͲϰ΁ ϭϬ͕ϯϴϵ ϵ͕ϭϵϭ ϭϮ͕Ϭϰϰ ϭϵ͕ϱϴϬ ϮϮ͕Ϭϲϲ ϰϮ͕Ϭϴϲ
ϲ dĂdžĞdžƉĞŶƐĞ
ĂͿ ƵƌƌĞŶƚƚĂdž  Ϯ͕ϰϭϮ  Ϯ͕ϮϬϲ  Ϯ͕ϴϮϰ  ϰ͕ϲϭϴ  ϰ͕ϴϵϵ ϵ͕Ϯϱϲ
ďͿ ĚũƵƐƚŵĞŶƚŽĨƚĂdžƌĞůĂƚŝŶŐƚŽĞĂƌůŝĞƌƉĞƌŝŽĚƐ Ͳ Ͳ ;ϭϲϳͿ Ͳ ;ϭϲϳͿ  ;ϮϭϭͿ
ĐͿ ĞĨĞƌƌĞĚƚĂdžĐŚĂƌŐĞ ϭϳϯ  ϵϵ Ϯϲϵ ϮϳϮ  ϯϳϱ  ϴϯϬ
dŽƚĂůdĂdžĞdžƉĞŶƐĞ΀ĂнďнĐ΁  Ϯ͕ϱϴϱ  Ϯ͕ϯϬϱ  Ϯ͕ϵϮϲ  ϰ͕ϴϵϬ ϱ͕ϭϬϳ ϵ͕ϴϳϱ
ϳ WƌŽĨŝƚĨŽƌƚŚĞƉĞƌŝŽĚͬLJĞĂƌĂĨƚĞƌƚĂdž΀ϱͲϲ΁  ϳ͕ϴϬϰ  ϲ͕ϴϴϲ  ϵ͕ϭϭϴ  ϭϰ͕ϲϵϬ  ϭϲ͕ϵϱϵ ϯϮ͕Ϯϭϭ
ϴ KƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞͬ;ůŽƐƐͿ
;ŝͿ/ƚĞŵƐƚŚĂƚǁŝůůŶŽƚďĞƌĞĐůĂƐƐŝĨŝĞĚƚŽƉƌŽĨŝƚŽƌůŽƐƐ  ϲ ;ϭϲϭͿ ;ϮϯϬͿ ;ϭϱϱͿ ;ϰϳϮͿ  ;ϳϴϭͿ
;ŝŝͿ/ŶĐŽŵĞƚĂdžƌĞůĂƚŝŶŐƚŽŝƚĞŵƐƚŚĂƚǁŝůůŶŽƚďĞƌĞĐůĂƐƐŝĨŝĞĚ
ƚŽƉƌŽĨŝƚŽƌůŽƐƐ  ;ϮͿ  ϰϭ  ϱϴ  ϯϵ  ϭϭϵ  ϭϵϳ
dŽƚĂůŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞͬ;ůŽƐƐͿ ϰ  ;ϭϮϬͿ  ;ϭϳϮͿ ;ϭϭϲͿ ;ϯϱϯͿ ;ϱϴϰͿ
ϵ dŽƚĂůĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞĨŽƌƚŚĞƉĞƌŝŽĚͬLJĞĂƌ;ϳнϴͿ  ϳ͕ϴϬϴ  ϲ͕ϳϲϲ  ϴ͕ϵϰϲ  ϭϰ͕ϱϳϰ  ϭϲ͕ϲϬϲ ϯϭ͕ϲϮϳ
ϭϬ WĂŝĚͲƵƉĞƋƵŝƚLJƐŚĂƌĞĐĂƉŝƚĂů;ĨĂĐĞǀĂůƵĞŽĨZĞϭͬͲĞĂĐŚͿ  ϯ͕Ϭϱϰ  ϯ͕Ϭϱϰ  ϯ͕Ϭϱϰ  ϯ͕Ϭϱϰ ϯ͕Ϭϱϰ ϯ͕Ϭϱϰ
ϭϭ KƚŚĞƌĞƋƵŝƚLJ ϭ͕Ϯϴ͕ϵϮϱ
ϭϮ ĂƌŶŝŶŐƐƉĞƌĞƋƵŝƚLJƐŚĂƌĞ;ZƐ͘Ϳ
ĂƐŝĐĂŶĚŝůƵƚĞĚ;ZƐ͘Ϳ Ϯ͘ϱϲ Ύ Ϯ͘Ϯϲ Ύ ϯ͘ϬϬ Ύ ϰ͘ϴϮ Ύ ϱ͘ϱϳ Ύ ϭϬ͘ϱϳ
ΎŶŽƚĂŶŶƵĂůŝƐĞĚ

h^,DZd/E>/D/d
ZĞŐŝƐƚĞƌĞĚĂŶĚŽƌƉŽƌĂƚĞKĨĨŝĐĞ͗Ϯ͕^ŚĂŬĞƐƉĞĂƌĞ^ĂƌĂŶŝ͕<ŽůŬĂƚĂͲϳϬϬϬϳϭ͕/ŶĚŝĂ
WŚŽŶĞ͗ϬϯϯͲϳϭϬϬϲϯϬϬ͖&Ădž͗ϬϯϯͲϳϭϬϬϲϰϭϱ
tĞďƐŝƚĞ͗ǁǁǁ͘ƵƐŚĂŵĂƌƚŝŶ͘ĐŽŵ
ŵĂŝů͗ŝŶǀĞƐƚŽƌΛƵƐŚĂŵĂƌƚŝŶ͘ĐŽ͘ŝŶ
/E͗>ϯϭϰϬϬtϭϵϴϲW>ϬϵϭϲϮϭ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂůZĞƐƵůƚƐ
ϭ͘^ƚĂŶĚĂůŽŶĞĂůĂŶĐĞ^ŚĞĞƚĂƐĂƚϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϮϰ
;ŵŽƵŶƚƐŝŶZƐ͘ůĂŬŚƐƵŶůĞƐƐŽƚŚĞƌǁŝƐĞƐƚĂƚĞĚͿ
ƐĂƚ ƐĂƚ
WĂƌƚŝĐƵůĂƌƐ
ϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϮϰ ϯϭƐƚDĂƌĐŚ͕ϮϬϮϰ
;hŶĂƵĚŝƚĞĚͿ ;ƵĚŝƚĞĚͿ
^^d^
EŽŶͲĐƵƌƌĞŶƚĂƐƐĞƚƐ
;ĂͿWƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ ϲϯ͕ϳϰϰ  ϱϲ͕ϭϱϵ
;ďͿĂƉŝƚĂůǁŽƌŬͲŝŶͲƉƌŽŐƌĞƐƐ ϵ͕ϭϭϬ  ϭϮ͕ϱϴϴ
;ĐͿ/ŶƚĂŶŐŝďůĞĂƐƐĞƚƐ ϯϰϮ ϯϳϲ
;ĚͿZŝŐŚƚͲŽĨͲƵƐĞĂƐƐĞƚƐ ϯϭϲ ϯϰϮ
;ĞͿ/ŶƚĂŶŐŝďůĞĂƐƐĞƚƐƵŶĚĞƌĚĞǀĞůŽƉŵĞŶƚ ϯϳ Ͳ
;ĨͿ&ŝŶĂŶĐŝĂůĂƐƐĞƚƐ
;ŝͿ/ŶǀĞƐƚŵĞŶƚƐ ϭϱ͕Ϭϵϰ  ϭϱ͕Ϭϵϰ
;ŝŝͿ>ŽĂŶƐ ϲϮϲ ϳϰϯ
;ŝŝŝͿKƚŚĞƌĨŝŶĂŶĐŝĂůĂƐƐĞƚƐ ϭ͕ϲϱϵ ϭ͕ϲϮϴ
;ŐͿ/ŶĐŽŵĞƚĂdžĂƐƐĞƚƐ;ŶĞƚͿ ϭ͕ϳϮϴ ϭ͕ϵϲϬ
;ŚͿKƚŚĞƌĂƐƐĞƚƐ ϳ͕ϲϳϰ ϴ͕ϱϱϲ
dŽƚĂůŶŽŶͲĐƵƌƌĞŶƚĂƐƐĞƚƐ  ϭ͕ϬϬ͕ϯϯϬ  ϵϳ͕ϰϰϲ
ƵƌƌĞŶƚĂƐƐĞƚƐ
;ĂͿ/ŶǀĞŶƚŽƌŝĞƐ ϯϬ͕ϰϵϭ  ϯϭ͕Ϭϳϰ
;ďͿ&ŝŶĂŶĐŝĂůĂƐƐĞƚƐ
;ŝͿdƌĂĚĞƌĞĐĞŝǀĂďůĞƐ ϯϭ͕Ϭϯϵ  Ϯϴ͕ϱϱϮ
;ŝŝͿĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐ ϳ͕ϬϭϬ ϱ͕ϰϱϵ
;ŝŝŝͿKƚŚĞƌďĂŶŬďĂůĂŶĐĞƐ ϲϯ ϰϴ
;ŝǀͿ>ŽĂŶƐ ϳϵϳ ϲϲϵ
;ǀͿKƚŚĞƌĨŝŶĂŶĐŝĂůĂƐƐĞƚƐ;ƌĞĨĞƌŶŽƚĞϱͿ ϭϬ͕ϯϱϰ ϵ͕Ϯϰϰ
;ĐͿKƚŚĞƌĂƐƐĞƚƐ ϱ͕ϰϰϬ ϱ͕ϯϳϮ
dŽƚĂůĐƵƌƌĞŶƚĂƐƐĞƚƐ  ϴϱ͕ϭϵϰ  ϴϬ͕ϰϭϴ
ƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ ϳϵϮ ϳϵϮ
dŽƚĂůĂƐƐĞƚƐ  ϭ͕ϴϲ͕ϯϭϲ  ϭ͕ϳϴ͕ϲϱϲ
Yh/dzE>//>/d/^
ƋƵŝƚLJ
;ĂͿƋƵŝƚLJƐŚĂƌĞĐĂƉŝƚĂů ϯ͕Ϭϱϰ ϯ͕Ϭϱϰ
;ďͿKƚŚĞƌĞƋƵŝƚLJ ϭ͕ϯϱ͕ϭϭϵ ϭ͕Ϯϴ͕ϵϮϱ
dŽƚĂůĞƋƵŝƚLJ ϭ͕ϯϴ͕ϭϳϯ ϭ͕ϯϭ͕ϵϳϵ
>ŝĂďŝůŝƚŝĞƐ
EŽŶͲĐƵƌƌĞŶƚůŝĂďŝůŝƚŝĞƐ
;ĂͿ&ŝŶĂŶĐŝĂůůŝĂďŝůŝƚŝĞƐ
;ŝͿŽƌƌŽǁŝŶŐƐ ϵ͕ϭϰϰ  ϭϮ͕ϱϵϰ
;ŝŝͿ>ĞĂƐĞůŝĂďŝůŝƚŝĞƐ Ϯϳϴ Ϯϭϰ
;ďͿWƌŽǀŝƐŝŽŶƐ Ϯ͕ϵϱϭ Ϯ͕ϴϮϵ
;ĐͿĞĨĞƌƌĞĚƚĂdžůŝĂďŝůŝƚŝĞƐ;ŶĞƚͿ ϭ͕Ϭϵϴ ϴϲϱ
dŽƚĂůŶŽŶͲĐƵƌƌĞŶƚůŝĂďŝůŝƚŝĞƐ  ϭϯ͕ϰϳϭ  ϭϲ͕ϱϬϮ
ƵƌƌĞŶƚůŝĂďŝůŝƚŝĞƐ
;ĂͿ&ŝŶĂŶĐŝĂůůŝĂďŝůŝƚŝĞƐ
;ŝͿŽƌƌŽǁŝŶŐƐ ϰ͕Ϭϭϭ ϲϬϴ
;ŝŝͿ>ĞĂƐĞůŝĂďŝůŝƚŝĞƐ ϰϳ ϭϮϰ
;ŝŝŝͿdƌĂĚĞƉĂLJĂďůĞƐ

;ͿdŽƚĂůŽƵƚƐƚĂŶĚŝŶŐĚƵĞƐŽĨŵŝĐƌŽĂŶĚƐŵĂůůĞŶƚĞƌƉƌŝƐĞƐ ϳϬϮ ϳϵϮ

;ͿdŽƚĂůŽƵƚƐƚĂŶĚŝŶŐĚƵĞƐŽĨĐƌĞĚŝƚŽƌƐŽƚŚĞƌƚŚĂŶŵŝĐƌŽ
ĂŶĚƐŵĂůůĞŶƚĞƌƉƌŝƐĞƐ ϵ͕ϳϯϮ ϵ͕Ϭϴϴ
;ŝǀͿKƚŚĞƌĨŝŶĂŶĐŝĂůůŝĂďŝůŝƚŝĞƐ ϲ͕ϴϭϯ ϱ͕ϴϯϲ
;ďͿWƌŽǀŝƐŝŽŶƐ ϴϭϮ ϳϲϬ
;ĐͿ/ŶĐŽŵĞƚĂdžůŝĂďŝůŝƚŝĞƐ;ŶĞƚͿ Ϯ͕ϲϭϰ Ϯ͕ϰϭϯ
;ĚͿKƚŚĞƌůŝĂďŝůŝƚŝĞƐ ϵ͕ϵϰϭ  ϭϬ͕ϱϱϰ
dŽƚĂůĐƵƌƌĞŶƚůŝĂďŝůŝƚŝĞƐ  ϯϰ͕ϲϳϮ  ϯϬ͕ϭϳϱ
dŽƚĂůůŝĂďŝůŝƚŝĞƐ  ϰϴ͕ϭϰϯ  ϰϲ͕ϲϳϳ
dŽƚĂůĞƋƵŝƚLJĂŶĚůŝĂďŝůŝƚŝĞƐ  ϭ͕ϴϲ͕ϯϭϲ  ϭ͕ϳϴ͕ϲϱϲ
h^,DZd/E>/D/d
ZĞŐŝƐƚĞƌĞĚĂŶĚŽƌƉŽƌĂƚĞKĨĨŝĐĞ͗Ϯ͕^ŚĂŬĞƐƉĞĂƌĞ^ĂƌĂŶŝ͕<ŽůŬĂƚĂͲϳϬϬϬϳϭ͕/ŶĚŝĂ
WŚŽŶĞ͗ϬϯϯͲϳϭϬϬϲϯϬϬ͖&Ădž͗ϬϯϯͲϳϭϬϬϲϰϭϱ
tĞďƐŝƚĞ͗ǁǁǁ͘ƵƐŚĂŵĂƌƚŝŶ͘ĐŽŵ
ŵĂŝů͗ŝŶǀĞƐƚŽƌΛƵƐŚĂŵĂƌƚŝŶ͘ĐŽ͘ŝŶ
/E͗>ϯϭϰϬϬtϭϵϴϲW>ϬϵϭϲϮϭ
hƐŚĂDĂƌƚŝŶ>ŝŵŝƚĞĚ
Ϯ͘^ƚĂŶĚĂůŽŶĞƐƚĂƚĞŵĞŶƚŽĨĐĂƐŚĨůŽǁƐĨŽƌƚŚĞƐŝdžŵŽŶƚŚƐƉĞƌŝŽĚĞŶĚĞĚϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϮϰ
;ůůĂŵŽƵŶƚƐŝŶZƐ͘ůĂŬŚƐƵŶůĞƐƐŽƚŚĞƌǁŝƐĞƐƚĂƚĞĚͿ
^ŝdžŵŽŶƚŚƐĞŶĚĞĚ ^ŝdžŵŽŶƚŚƐĞŶĚĞĚ
ϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ ϯϬƚŚ^ĞƉƚĞŵďĞƌ͕
ϮϬϮϰ ϮϬϮϯ
;hŶĂƵĚŝƚĞĚͿ ;hŶĂƵĚŝƚĞĚͿ
͘ ĂƐŚĨůŽǁƐĨƌŽŵŽƉĞƌĂƚŝŶŐĂĐƚŝǀŝƚŝĞƐ
WƌŽĨŝƚďĞĨŽƌĞƚĂdž  ϭϵ͕ϱϴϬ  ϮϮ͕Ϭϲϲ
ĚũƵƐƚŵĞŶƚƐĨŽƌ͗
ĞƉƌĞĐŝĂƚŝŽŶĂŶĚĂŵŽƌƚŝƐĂƚŝŽŶĞdžƉĞŶƐĞ Ϯ͕ϭϳϯ  ϭ͕ϰϭϬ

;'ĂŝŶͿͬ>ŽƐƐŽŶĚŝƐƉŽƐĂůŽĨƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ΀ŶĞƚŽĨůŽƐƐŽŶĚŝƐƉŽƐĂů
ŽĨƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚŽĨZƐ͘ϰůĂŬŚƐ;ϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϮϯ͗EŝůͿ΁ ;ϭϱϯͿ  ϲ
hŶƌĞĂůŝƐĞĚĚĞƌŝǀĂƚŝǀĞůŽƐƐͬ;ŐĂŝŶͿ΀ŶĞƚ΁  ϭϭϬ ϵϬ
&ŝŶĂŶĐĞĐŽƐƚƐ  ϰϴϲ ϯϬϱ
ĂĚĞďƚƐͬĂĚǀĂŶĐĞƐǁƌŝƚƚĞŶŽĨĨ  Ϯϱ  ϰ
ůůŽǁĂŶĐĞĨŽƌĐƌĞĚŝƚŝŵƉĂŝƌĞĚĚĞďƚƐĂŶĚĂĚǀĂŶĐĞƐ΀ŶĞƚŽĨƌĞǀĞƌƐĂů͗Eŝů;ϯϬƚŚ
^ĞƉƚĞŵďĞƌ͕ϮϬϮϯ͗ZƐ͘ϰůĂŬŚƐͿ΁  ϱϳ  ϰ
WƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚǁƌŝƚƚĞŶŽĨĨ  ϲϱ ϭϳϵ
/ŶƚĞƌĞƐƚŝŶĐŽŵĞŽŶĨŝŶĂŶĐŝĂůĂƐƐĞƚƐĐĂƌƌŝĞĚĂƚĂŵŽƌƚŝƐĞĚĐŽƐƚ ;ϯϱϰͿ  ;ϮϬϭͿ
ŝǀŝĚĞŶĚŝŶĐŽŵĞ ;ϱϴϬͿ  ;Ϯ͕ϮϭϲͿ
hŶƌĞĂůŝƐĞĚĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞĚŝĨĨĞƌĞŶĐĞƐ΀ŶĞƚ΁ ;ϯϯϰͿ ϭϮϯ
>ŝĂďŝůŝƚŝĞƐŶŽůŽŶŐĞƌƌĞƋƵŝƌĞĚǁƌŝƚƚĞŶďĂĐŬ ;ϮϴϳͿ  ;ϮϬϱͿ

KƉĞƌĂƚŝŶŐƉƌŽĨŝƚďĞĨŽƌĞĐŚĂŶŐĞƐŝŶŶŽŶͲĐƵƌƌĞŶƚͬĐƵƌƌĞŶƚĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƚŝĞƐ  ϮϬ͕ϳϴϴ Ϯϭ͕ϱϲϱ

ĚũƵƐƚŵĞŶƚƐĨŽƌ͗
;/ŶĐƌĞĂƐĞͿͬĚĞĐƌĞĂƐĞŝŶŝŶǀĞŶƚŽƌŝĞƐ  ϱϴϯ  ϰ͕Ϭϯϯ
;/ŶĐƌĞĂƐĞͿͬĚĞĐƌĞĂƐĞŝŶƚƌĂĚĞƌĞĐĞŝǀĂďůĞƐ  ;Ϯ͕ϮϳϮͿ  ;Ϯ͕ϬϬϳͿ
;/ŶĐƌĞĂƐĞͿͬĚĞĐƌĞĂƐĞŝŶůŽĂŶƐĂŶĚĂĚǀĂŶĐĞƐ ;ϳϮͿ ;ϴͿ
;/ŶĐƌĞĂƐĞͿͬĚĞĐƌĞĂƐĞŝŶŽƚŚĞƌĨŝŶĂŶĐŝĂůĂƐƐĞƚƐ ;ϮϵϬͿ  ;Ϯ͕ϭϯϮͿ
;/ŶĐƌĞĂƐĞͿͬĚĞĐƌĞĂƐĞŝŶŽƚŚĞƌĂƐƐĞƚƐ ;ϭϯϲͿ  Ϯ͕ϭϲϴ
/ŶĐƌĞĂƐĞͬ;ĚĞĐƌĞĂƐĞͿŝŶƚƌĂĚĞƉĂLJĂďůĞƐ  ϱϳϵ  ;Ϯ͕ϬϮϰͿ
/ŶĐƌĞĂƐĞͬ;ĚĞĐƌĞĂƐĞͿŝŶƉƌŽǀŝƐŝŽŶƐ  ϭϴ  ;ϵϮϲͿ
/ŶĐƌĞĂƐĞͬ;ĚĞĐƌĞĂƐĞͿŝŶŽƚŚĞƌĨŝŶĂŶĐŝĂůůŝĂďŝůŝƚŝĞƐ ϭ͕ϰϭϴ ϴϮϳ
/ŶĐƌĞĂƐĞͬ;ĚĞĐƌĞĂƐĞͿŝŶŽƚŚĞƌůŝĂďŝůŝƚŝĞƐ ;ϱϵϯͿ  ;ϭϮϴͿ
ĂƐŚŐĞŶĞƌĂƚĞĚĨƌŽŵŽƉĞƌĂƚŝŽŶƐ  ϮϬ͕ϬϮϯ Ϯϭ͕ϯϲϴ
ŝƌĞĐƚƚĂdžĞƐ;ƉĂŝĚͿͬƌĞĨƵŶĚ;ŶĞƚͿ  ;ϰ͕ϭϴϰͿ  ;ϯ͕ϰϴϬͿ
EĞƚĐĂƐŚĨůŽǁƐĨƌŽŵŽƉĞƌĂƚŝŶŐĂĐƚŝǀŝƚŝĞƐ  ϭϱ͕ϴϯϵ ϭϳ͕ϴϴϴ
͘ ĂƐŚĨůŽǁƐĨƌŽŵŝŶǀĞƐƚŝŶŐĂĐƚŝǀŝƚŝĞƐ
WƵƌĐŚĂƐĞŽĨƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ͕ĐĂƉŝƚĂůͲǁŽƌŬͲŝŶƉƌŽŐƌĞƐƐĂŶĚŝŶƚĂŶŐŝďůĞ
ĂƐƐĞƚƐ  ;ϲ͕ϱϮϬͿ  ;ϭϮ͕ϭϰϳͿ
WƌŽĐĞĞĚƐĨƌŽŵƐĂůĞŽĨƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ  ϭϱ ϭϰϳ
>ŽĂŶƐƌĞĂůŝƐĞĚĨƌŽŵƌĞůĂƚĞĚƉĂƌƚLJ΀ŶĞƚŽĨůŽĂŶƐŐŝǀĞŶƚŽƌĞůĂƚĞĚƉĂƌƚLJŽĨZƐ͘ϭϱϬ
ůĂŬŚƐ;ϯϬƚŚ^ĞƉƚĞŵďĞƌ͕ϮϬϮϯ͗ZƐ͘ϳϬϬůĂŬŚƐͿ΁  ϭϯϴ ϯϯϴ
/ŶƚĞƌĞƐƚƌĞĐĞŝǀĞĚ  ϯϴϱ ϭϲϴ
DĂƚƵƌŝƚLJŽĨďĂŶŬĚĞƉŽƐŝƚƐ;ǁŝƚŚŽƌŝŐŝŶĂůŵĂƚƵƌŝƚLJŵŽƌĞƚŚĂŶϯŵŽŶƚŚƐĂŶĚůĞƐƐƚŚĂŶ
ϭϮŵŽŶƚŚƐͿ  ϳ ϮϳϬ
ŝǀŝĚĞŶĚƌĞĐĞŝǀĞĚ  ϱϴϬ  Ϯ͕Ϯϭϲ
EĞƚĐĂƐŚĨůŽǁƐƵƐĞĚŝŶŝŶǀĞƐƚŝŶŐĂĐƚŝǀŝƚŝĞƐ  ;ϱ͕ϯϵϱͿ ;ϵ͕ϬϬϴͿ
͘ ĂƐŚĨůŽǁƐĨƌŽŵĨŝŶĂŶĐŝŶŐĂĐƚŝǀŝƚŝĞƐ
WƌŽĐĞĞĚƐĨƌŽŵůŽŶŐƚĞƌŵďŽƌƌŽǁŝŶŐƐ Ͳ  Ϯ͕ϱϬϬ
ZĞƉĂLJŵĞŶƚŽĨůŽŶŐƚĞƌŵďŽƌƌŽǁŝŶŐƐ Ͳ  ;ϯ͕ϱϬϬͿ
ZĞƉĂLJŵĞŶƚŽĨƐŚŽƌƚƚĞƌŵǁŽƌŬŝŶŐĐĂƉŝƚĂůďŽƌƌŽǁŝŶŐƐ;ŶĞƚͿ ;ϰϲͿ ϱϵϰ
/ŶƚĞƌĞƐƚƉĂŝĚ ;ϰϲϳͿ  ;ϮϲϭͿ
ŝǀŝĚĞŶĚƉĂŝĚ  ;ϴ͕ϯϴϬͿ  ;ϳ͕ϲϭϵͿ
EĞƚĐĂƐŚĨůŽǁƐƵƐĞĚŝŶĨŝŶĂŶĐŝŶŐĂĐƚŝǀŝƚŝĞƐ  ;ϴ͕ϴϵϯͿ ;ϴ͕ϮϴϲͿ
EĞƚŝŶĐƌĞĂƐĞŝŶĐĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐ;ннͿ  ϭ͕ϱϱϭ  ϱϵϰ
KƉĞŶŝŶŐĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐ  ϱ͕ϰϱϵ  ϱ͕Ϭϯϱ
ůŽƐŝŶŐĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐ  ϳ͕ϬϭϬ  ϱ͕ϲϮϵ
dŚĞĂďŽǀĞƐƚĂƚĞŵĞŶƚŽĨĐĂƐŚĨůŽǁƐŚĂƐďĞĞŶƉƌĞƉĂƌĞĚƵŶĚĞƌƚŚĞŝŶĚŝƌĞĐƚŵĞƚŚŽĚĂƐƐĞƚŽƵƚŝŶΗ/ŶĚŝĂŶĐĐŽƵŶƚŝŶŐ^ƚĂŶĚĂƌĚͲϳΗͲ
^ƚĂƚĞŵĞŶƚŽĨĂƐŚĨůŽǁƐ͘
h^,DZd/E>/D/d
ZĞŐŝƐƚĞƌĞĚĂŶĚŽƌƉŽƌĂƚĞKĨĨŝĐĞ͗Ϯ͕^ŚĂŬĞƐƉĞĂƌĞ^ĂƌĂŶŝ͕<ŽůŬĂƚĂͲϳϬϬϬϳϭ͕/ŶĚŝĂ
WŚŽŶĞ͗ϬϯϯͲϳϭϬϬϲϯϬϬ͖&Ădž͗ϬϯϯͲϳϭϬϬϲϰϭϱ
tĞďƐŝƚĞ͗ǁǁǁ͘ƵƐŚĂŵĂƌƚŝŶ͘ĐŽŵ
ŵĂŝů͗ŝŶǀĞƐƚŽƌΛƵƐŚĂŵĂƌƚŝŶ͘ĐŽ͘ŝŶ
/E͗>ϯϭϰϬϬtϭϵϴϲW>ϬϵϭϲϮϭ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂůZĞƐƵůƚƐ

ϯ͘ dŚĞ ĂďŽǀĞ ƌĞƐƵůƚƐ ŽĨ hƐŚĂ DĂƌƚŝŶ >ŝŵŝƚĞĚ ;͞ƚŚĞ ŽŵƉĂŶLJ͟Ϳ ĨŽƌ ƚŚĞ ƋƵĂƌƚĞƌ ĂŶĚ Ɛŝdž ŵŽŶƚŚƐ ĞŶĚĞĚ ^ĞƉƚĞŵďĞƌ ϯϬ͕ ϮϬϮϰ ŚĂǀĞ ďĞĞŶ ƌĞǀŝĞǁĞĚ ďLJ
ƚŚĞƵĚŝƚŽŵŵŝƚƚĞĞĂŶĚĂƉƉƌŽǀĞĚďLJƚŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐĂƚƚŚĞŝƌƌĞƐƉĞĐƚŝǀĞŵĞĞƚŝŶŐƐŚĞůĚĂƚ<ŽůŬĂƚĂŽŶEŽǀĞŵďĞƌϲ͕ϮϬϮϰ͘

ϰ͘ dŚĞ ƵŶĂƵĚŝƚĞĚ ƐƚĂŶĚĂůŽŶĞ ĨŝŶĂŶĐŝĂů ƌĞƐƵůƚƐ ŚĂǀĞ ďĞĞŶ ƉƌĞƉĂƌĞĚ ŝŶ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ ƚŚĞ ƌĞĐŽŐŶŝƚŝŽŶ ĂŶĚ ŵĞĂƐƵƌĞŵĞŶƚ ƉƌŝŶĐŝƉůĞƐ ƉƌŽǀŝĚĞĚ ŝŶ
/ŶĚŝĂŶ ĐĐŽƵŶƚŝŶŐ ^ƚĂŶĚĂƌĚ ;/ŶĚ ^Ϳ ϯϰ ŽŶ Ζ/ŶƚĞƌŝŵ &ŝŶĂŶĐŝĂů ZĞƉŽƌƚŝŶŐΖ͕ ƚŚĞ ƉƌŽǀŝƐŝŽŶƐ ŽĨ ƚŚĞ ŽŵƉĂŶŝĞƐ Đƚ͕ ϮϬϭϯ͕ ĂƐ ĂƉƉůŝĐĂďůĞ ĂŶĚ
ŐƵŝĚĞůŝŶĞƐ ŝƐƐƵĞĚ ďLJ ƚŚĞ ^ĞĐƵƌŝƚŝĞƐ ĂŶĚ džĐŚĂŶŐĞ ŽĂƌĚ ŽĨ /ŶĚŝĂ ;^/Ϳ ƵŶĚĞƌ ^/ ;>ŝƐƚŝŶŐ KďůŝŐĂƚŝŽŶƐ ĂŶĚ ŝƐĐůŽƐƵƌĞ ZĞƋƵŝƌĞŵĞŶƚƐͿ ZĞŐƵůĂƚŝŽŶ
ϮϬϭϱ͕ĂƐĂŵĞŶĚĞĚ͘
ϱ͘ WƵƌƐƵĂŶƚ ƚŽ ƚŚĞ ƵƐŝŶĞƐƐ dƌĂŶƐĨĞƌ ŐƌĞĞŵĞŶƚ ĚĂƚĞĚ ^ĞƉƚĞŵďĞƌ ϮϮ͕ ϮϬϭϴ ;EŽǀĂƚŝŽŶ ĂŐƌĞĞŵĞŶƚ ŽŶ KĐƚŽďĞƌ Ϯϰ͕ ϮϬϭϴͿ ĂŶĚ ^ƵƉƉůĞŵĞŶƚĂů
ƵƐŝŶĞƐƐ dƌĂŶƐĨĞƌ ŐƌĞĞŵĞŶƚ ĚĂƚĞĚ Ɖƌŝů ϳ͕ ϮϬϭϵ ĂŶĚ :ƵůLJ ϯ͕ ϮϬϭϵ ƌĞƐƉĞĐƚŝǀĞůLJ ǁŝƚŚ dĂƚĂ ^ƚĞĞů >ŽŶŐ WƌŽĚƵĐƚƐ >ŝŵŝƚĞĚ ;d^>W>Ϳ ΀ĨŽƌŵĞƌůLJ ŬŶŽǁŶ
ĂƐ dĂƚĂ ^ƉŽŶŐĞ /ƌŽŶ >ŝŵŝƚĞĚ΁͕ ƚŚĞ ŽŵƉĂŶLJ ŚĂĚ ƚƌĂŶƐĨĞƌƌĞĚ ŝƚƐ ^ƚĞĞů ĂŶĚ ƌŝŐŚƚ Ăƌ ƵƐŝŶĞƐƐ ;^ ƵƐŝŶĞƐƐͿ ĂƐ Ă ŐŽŝŶŐ ĐŽŶĐĞƌŶ ŽŶ ƐůƵŵƉ ƐĂůĞ
ďĂƐŝƐ ĚƵƌŝŶŐ Ă ƉƌŝŽƌ LJĞĂƌ ŝŶ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ ƚŚĞ ƚĞƌŵƐ ĂŶĚ ĐŽŶĚŝƚŝŽŶƐ ƐĞƚ ŽƵƚ ŝŶ ƚŚŽƐĞ ĂŐƌĞĞŵĞŶƚƐ͘ Ŷ ĂŵŽƵŶƚ ŽĨ ZƐ͘ ϳ͕ϰϰϲ ůĂŬŚƐ ;ŶĞƚ ŽĨ
ǁŽƌŬŝŶŐ ĐĂƉŝƚĂů ĂĚũƵƐƚŵĞŶƚ ŽĨ ZƐ͘ ϲϮϳ ůĂŬŚƐͿ ŝƐ ƌĞĐĞŝǀĂďůĞ ĂƐ Ăƚ Ɛŝdž ŵŽŶƚŚƐ ĞŶĚĞĚ ^ĞƉƚĞŵďĞƌ ϯϬ͕ ϮϬϮϰ͕ ƉĞŶĚŝŶŐ ƌĞŐŝƐƚƌĂƚŝŽŶ ŽĨ ĐĞƌƚĂŝŶ ƉĂƌĐĞůƐ
ŽĨůĂŶĚŝŶƚŚĞŶĂŵĞŽĨd^>W>ĨŽƌǁŚŝĐŚƉĞƌƉĞƚƵĂůůĞĂƐĞĂŶĚůŝĐĞŶƐĞĂŐƌĞĞŵĞŶƚƐŚĂĚďĞĞŶĞdžĞĐƵƚĞĚďLJƚŚĞŽŵƉĂŶLJŝŶĨĂǀŽƵƌŽĨd^>W>͘

ϲ;ĂͿ͘ dŚĞ ŝƌĞĐƚŽƌĂƚĞ ŽĨ ŶĨŽƌĐĞŵĞŶƚ ;ΗΗͿ ŚĂĚ ŝƐƐƵĞĚ ĂŶ ŽƌĚĞƌ ĚĂƚĞĚ ƵŐƵƐƚ ϵ͕ ϮϬϭϵ ƵŶĚĞƌ ƚŚĞ ƉƌŽǀŝƐŝŽŶƐ ŽĨ WƌĞǀĞŶƚŝŽŶ ŽĨ DŽŶĞLJ >ĂƵŶĚĞƌŝŶŐ Đƚ͕
ϮϬϬϮ ;WD>Ϳ ƚŽ ƉƌŽǀŝƐŝŽŶĂůůLJ ĂƚƚĂĐŚ ĐĞƌƚĂŝŶ ƉĂƌĐĞůƐ ŽĨ ůĂŶĚ Ăƚ ZĂŶĐŚŝ͕ ^ƚĂƚĞ ŽĨ :ŚĂƌŬŚĂŶĚ ďĞŝŶŐ ƵƐĞĚ ďLJ ƚŚĞ ŽŵƉĂŶLJ ĨŽƌ ŝƚƐ ďƵƐŝŶĞƐƐ ĨŽƌ Ă
ƉĞƌŝŽĚ ŽĨ ϭϴϬ ĚĂLJƐ ŝŶ ĐŽŶŶĞĐƚŝŽŶ ǁŝƚŚ ĞdžƉŽƌƚ ĂŶĚ ĚŽŵĞƐƚŝĐ ƐĂůĞ ŽĨ ŝƌŽŶ ŽƌĞ ĨŝŶĞƐ ŝŶ ƉƌŝŽƌ LJĞĂƌƐ ĂŐŐƌĞŐĂƚŝŶŐ ZƐ͘ ϭϵ͕Ϭϯϳ ůĂŬŚƐ ĂůůĞŐĞĚůLJ ŝŶ
ĐŽŶƚƌĂǀĞŶƚŝŽŶ ŽĨ ƚĞƌŵƐ ŽĨ ƚŚĞ ŵŝŶŝŶŐ ůĞĂƐĞ ŐƌĂŶƚĞĚ ƚŽ ƚŚĞ ŽŵƉĂŶLJ ĨŽƌ ƚŚĞ ŝƌŽŶ ŽƌĞ ŵŝŶĞƐ ƐŝƚƵĂƚĞĚ Ăƚ 'ŚĂƚŬƵƌŝ͕ :ŚĂƌŬŚĂŶĚ͘ dŚĞ ,ŽŶΖďůĞ ,ŝŐŚ
ŽƵƌƚ ŽĨ :ŚĂƌŬŚĂŶĚ Ăƚ ZĂŶĐŚŝ ŚĂĚ͕ ǀŝĚĞ ŽƌĚĞƌ ĚĂƚĞĚ &ĞďƌƵĂƌLJ ϭϰ͕ ϮϬϭϮ͕ ŚĞůĚ ƚŚĂƚ ƚŚĞ ŽŵƉĂŶLJ ŚĂƐ ƚŚĞ ƌŝŐŚƚ ƚŽ ƐĞůů ƚŚĞ ŝƌŽŶ ŽƌĞ ŝŶĐůƵĚŝŶŐ ĨŝŶĞƐ
ĂƐ ƉĞƌ ƚŚĞ ƚĞƌŵƐ ŽĨ ƚŚĞ ŵŝŶŝŶŐ ůĞĂƐĞ ǁŚŝĐŚ ǁĂƐ ŝŶ ƉůĂĐĞ Ăƚ ƚŚĂƚ ƉŽŝŶƚ ŝŶ ƚŝŵĞ͘ dŚĞ ŽŵƉĂŶLJ ŚĂĚ ƉĂŝĚ ĂƉƉůŝĐĂďůĞ ƌŽLJĂůƚLJ ĂŶĚ ŚĂĚ ŵĂĚĞ
ŶĞĐĞƐƐĂƌLJ ĚŝƐĐůŽƐƵƌĞƐ ŝŶ ŝƚƐ ƌĞƚƵƌŶƐ ĂŶĚ ƌĞƉŽƌƚƐ ƐƵďŵŝƚƚĞĚ ƚŽ ŵŝŶŝŶŐ ĂƵƚŚŽƌŝƚŝĞƐ͘ /Ŷ ƌĞƐƉŽŶƐĞ ƚŽ ƚŚĞ ƉƌŽǀŝƐŝŽŶĂů ĂƚƚĂĐŚŵĞŶƚ ŽƌĚĞƌ͕ ƚŚĞ
ŽŵƉĂŶLJ ŚĂĚ ƐƵďŵŝƚƚĞĚ ŝƚƐ ƌĞƉůLJ ďĞĨŽƌĞ ƚŚĞ ĚũƵĚŝĐĂƚŝŶŐ ƵƚŚŽƌŝƚLJ ;Ϳ͘ ^ƵďƐĞƋƵĞŶƚůLJ͕  ŚĂĚ ŝƐƐƵĞĚ ĂŶ ŽƌĚĞƌ ďLJ ǁĂLJ ŽĨ ǁŚŝĐŚ ƚŚĞ
ƉƌŽǀŝƐŝŽŶĂů ĂƚƚĂĐŚŵĞŶƚ ǁĂƐ ĐŽŶĨŝƌŵĞĚ ƵŶĚĞƌ ^ĞĐƚŝŽŶ ϴ;ϯͿ ŽĨ WD>͘ dŚĞƌĞĂĨƚĞƌ͕ ƚŚĞ ŽŵƉĂŶLJ ĨŝůĞĚ ĂŶ ĂƉƉĞĂů ďĞĨŽƌĞ ƚŚĞ ƉƉĞůůĂƚĞ dƌŝďƵŶĂů͕
EĞǁ ĞůŚŝ ĂŶĚ ƐƵĐĐĞƐƐĨƵůůLJ ŽďƚĂŝŶĞĚ Ă ƐƚĂƚƵƐ ƋƵŽ ŽƌĚĞƌ ĨƌŽŵ ƚŚĞ dƌŝďƵŶĂů ŽŶ ƚŚĞ ĐŽŶĨŝƌŵĞĚ ĂƚƚĂĐŚŵĞŶƚ ŽƌĚĞƌ ǁŚŝĐŚ ĐŽŶƚŝŶƵĞƐ ƚŝůů ƚŚĞ ŶĞdžƚ
ĚĂƚĞ ŽĨ ŚĞĂƌŝŶŐ ƚŚĂƚ ŝƐ ŶŽǁ ĨŝdžĞĚ ŽŶ EŽǀĞŵďĞƌ Ϯϳ͕ ϮϬϮϰ͘ dŚĞ  ŚĂĚ ĨŝůĞĚ Ă ĐŽŵƉůĂŝŶƚ ďĞĨŽƌĞ ƚŚĞ ŝƐƚƌŝĐƚ ĂŶĚ ^ĞƐƐŝŽŶƐ :ƵĚŐĞ Ƶŵ ^ƉĞĐŝĂů
:ƵĚŐĞ͕ ZĂŶĐŚŝ ;dƌŝĂů ŽƵƌƚ͕ ZĂŶĐŚŝͿ͕ ƉƵƌƐƵĂŶƚ ƚŽ ǁŚŝĐŚ ƐƵŵŵŽŶŝŶŐ ŽƌĚĞƌƐ ĚĂƚĞĚ DĂLJ ϮϬ͕ ϮϬϮϭ ǁĞƌĞ ŝƐƐƵĞĚ ƚŽ ƚŚĞ ŽŵƉĂŶLJ ĂŶĚ ŽŶĞ ŽĨ ŝƚƐ
KĨĨŝĐĞƌƐ͘ /Ŷ ƌĞƐƉŽŶƐĞ ƚŽ ƚŚĞ ƐĂŝĚ ĐŽŵƉůĂŝŶƚ ĂŶĚ ƐƵŵŵŽŶƐ ƌĞĐĞŝǀĞĚ͕ ƚŚĞ ŽŵƉĂŶLJ ŚĂĚ ĨŝůĞĚ Ă ƋƵĂƐŚŝŶŐ ƉĞƚŝƚŝŽŶ ďĞĨŽƌĞ ƚŚĞ ,ŽŶΖďůĞ :ŚĂƌŬŚĂŶĚ
,ŝŐŚ ŽƵƌƚ ĂŶĚ Ă ƐƵďƐĞƋƵĞŶƚ ^ƉĞĐŝĂů >ĞĂǀĞ WĞƚŝƚŝŽŶ ;͚^>W͛Ϳ ďĞĨŽƌĞ ƚŚĞ ,ŽŶ͛ďůĞ ^ƵƉƌĞŵĞ ŽƵƌƚ ĂŐĂŝŶƐƚ ƚŚĞ ŽƌĚĞƌ ŽĨ ƚŚĞ ,ŽŶ͛ďůĞ :ŚĂƌŬŚĂŶĚ ,ŝŐŚ
ŽƵƌƚ ĚŝƐŵŝƐƐŝŶŐ ƚŚĞ ŽŵƉĂŶLJ͛Ɛ ƋƵĂƐŚŝŶŐ ƉĞƚŝƚŝŽŶ͘ sŝĚĞ ŝŶƚĞƌŝŵ ŽƌĚĞƌ ĚĂƚĞĚ ĞĐĞŵďĞƌ ϭϱ͕ ϮϬϮϭ͕ ƚŚĞ ,ŽŶ͛ďůĞ ^ƵƉƌĞŵĞ ŽƵƌƚ ŚĂĚ ŐƌĂŶƚĞĚ
ƉƌŽƚĞĐƚŝŽŶ ƚŽ ƚŚĞ ŽŵƉĂŶLJ ĨƌŽŵ ĂƌƌĞƐƚ ĂŶĚ ƐƚĂLJĞĚ ƚŚĞ ƐƵŵŵŽŶŝŶŐ ŽƌĚĞƌƐ ŝƐƐƵĞĚ ďLJ ƚŚĞ dƌŝĂů ŽƵƌƚ͕ ZĂŶĐŚŝ͘ dŚĞ ,ŽŶ͛ďůĞ ^ƵƉƌĞŵĞ ŽƵƌƚ ǀŝĚĞ
ŽƌĚĞƌ ĚĂƚĞĚ ^ĞƉƚĞŵďĞƌ Ϯϴ͕ ϮϬϮϮ ŚĂĚ ĚŝƐŵŝƐƐĞĚ ƚŚĞ ^>W ǁŝƚŚ ƚŚĞ ĚŝƌĞĐƚŝŽŶƐ ƚŽ ƚŚĞ ŽŵƉĂŶLJ ƚŽ ƉƌĞƐĞŶƚ Ăůů ŝƚƐ ĚĞĨĞŶĐĞƐ ͞ǁŚŝĐŚ ĂƌĞ ƌĞƋƵŝƌĞĚ ƚŽ
ďĞ ĐŽŶƐŝĚĞƌĞĚ ĂŶĚ ĚĞĂůƚ ǁŝƚŚ Ăƚ ƚŚĞ ƚŝŵĞ ŽĨ ƚƌŝĂů͟ ďĞĨŽƌĞ ƚŚĞ ĂĨŽƌĞƐĂŝĚ dƌŝĂů ŽƵƌƚ͕ ZĂŶĐŚŝ͘ dŚĞ ŵĂƚƚĞƌ Ăƚ ƚŚĞ dƌŝĂů ŽƵƌƚ͕ ZĂŶĐŚŝ ŝƐ ƐĐŚĞĚƵůĞĚ ƚŽ
ďĞŚĞĂƌĚŽŶEŽǀĞŵďĞƌϮϱ͕ϮϬϮϰ͘

dŚĞ ŽŶŐŽŝŶŐ ŽƉĞƌĂƚŝŽŶƐ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ŚĂǀĞ ŶŽƚ ďĞĞŶ ĂĨĨĞĐƚĞĚ ďLJ ƚŚĞ ĂĨŽƌĞƐĂŝĚ ƉƌŽĐĞĞĚŝŶŐƐ͘ ^ƵƉƉŽƌƚĞĚ ďLJ Ă ůĞŐĂů ŽƉŝŶŝŽŶ ŽďƚĂŝŶĞĚ͕
ŵĂŶĂŐĞŵĞŶƚ ďĞůŝĞǀĞƐ ƚŚĂƚ ƚŚĞ ŽŵƉĂŶLJ ŚĂƐ Ă ƐƚƌŽŶŐ ĐĂƐĞ ŝŶ ŝƚƐ ĨĂǀŽƵƌ ŽŶ ŵĞƌŝƚ ĂŶĚ ůĂǁ͘ ĐĐŽƌĚŝŶŐůLJ͕ ŶŽ ĂĚũƵƐƚŵĞŶƚ ƚŽ ƚŚĞƐĞ ĨŝŶĂŶĐŝĂů ƌĞƐƵůƚƐ
ŝŶƚŚŝƐƌĞŐĂƌĚŚĂǀĞďĞĞŶĐŽŶƐŝĚĞƌĞĚŶĞĐĞƐƐĂƌLJďLJƚŚĞŵĂŶĂŐĞŵĞŶƚ͘

ϲ;ďͿ͘ KŶ KĐƚŽďĞƌ Ϯ͕ ϮϬϮϬ͕ ĞŶƚƌĂů ƵƌĞĂƵ ŽĨ /ŶǀĞƐƚŝŐĂƚŝŽŶ ;/Ϳ ŚĂĚ ĨŝůĞĚ Ă &ŝƌƐƚ /ŶĨŽƌŵĂƚŝŽŶ ZĞƉŽƌƚ ;&/ZͿ ĂŐĂŝŶƐƚ ƚŚĞ ŽŵƉĂŶLJ͕ ŝƚƐ DĂŶĂŐŝŶŐ ŝƌĞĐƚŽƌ
;DͿ ĂŶĚ ĐĞƌƚĂŝŶ KƚŚĞƌ KĨĨŝĐĞƌƐ ƵŶĚĞƌ ƚŚĞ WƌĞǀĞŶƚŝŽŶ ŽĨ ŽƌƌƵƉƚŝŽŶ Đƚ͕ ϭϵϴϴ ĂŶĚ ƚŚĞ /ŶĚŝĂŶ WĞŶĂů ŽĚĞ͕ ϭϴϲϬ ďĞĨŽƌĞ ƚŚĞ ^ƉĞĐŝĂů :ƵĚŐĞ͕ /͕
EĞǁ ĞůŚŝ ;/ ŽƵƌƚ͕ EĞǁ ĞůŚŝͿ ĨŽƌ ĂůůĞŐĞĚůLJ ƚƌLJŝŶŐ ƚŽ ŝŶĨůƵĞŶĐĞ ŽŶŐŽŝŶŐ / ŝŶǀĞƐƚŝŐĂƚŝŽŶ ƉĞƌƚĂŝŶŝŶŐ ƚŽ ƚŚĞ ƉƌŽĐĞĞĚŝŶŐƐ ŵĞŶƚŝŽŶĞĚ ŝŶ ŶŽƚĞ
ϲ;ĂͿ ĂďŽǀĞ͘ sŝĚĞ ŽƌĚĞƌ ĚĂƚĞĚ ^ĞƉƚĞŵďĞƌ ϭϱ͕ ϮϬϮϮ͕ ƚŚĞ / ŽƵƌƚ͕ EĞǁ ĞůŚŝ ŚĂĚ ƚĂŬĞŶ ĐŽŐŶŝnjĂŶĐĞ ŽĨ ƚŚĞ ŽĨĨĞŶĐĞ ďĂƐĞĚ ŽŶ ŝŶƚĞƌŝŵ ĐŚĂƌŐĞ
ƐŚĞĞƚ ĨŝůĞĚ ďLJ ƚŚĞ / ĂŐĂŝŶƐƚ ƚŚĞ ŽŵƉĂŶLJ͕ ŝƚƐ D ĂŶĚ ĐĞƌƚĂŝŶ KƚŚĞƌ KĨĨŝĐĞƌƐ ĂŶĚ ŚĂƐ ĚŝƌĞĐƚĞĚ ƚŚĞ / ƚŽ ƚĂŬĞ ƐƵĐŚ ƐƚĞƉƐ ĂƐ ŵĂLJ ďĞ ŶĞĐĞƐƐĂƌLJ
ƚŽ ĐŽŵƉůĞƚĞ ƚŚĞ ŝŶǀĞƐƚŝŐĂƚŝŽŶ͘ dŚĞ ŽŵƉĂŶLJ ƐƚƌŽŶŐůLJ ƌĞĨƵƚĞƐ ƚŚĞ ĂĨŽƌĞƐĂŝĚ ĂůůĞŐĂƚŝŽŶƐ ŵĂĚĞ ďLJ ƚŚĞ /͘ dŚĞ ŽŵƉĂŶLJ ŚĂƐ ƌĞĐĞŝǀĞĚ ŝŶƚŝŵĂƚŝŽŶ
ĨƌŽŵ ƚŚĞ ŝƌĞĐƚŽƌĂƚĞ ŽĨ ŶĨŽƌĐĞŵĞŶƚ ;Ϳ ƌĞŐĂƌĚŝŶŐ ƐƵŵŵŽŶƐ ŝƐƐƵĞĚ ŽŶ ƚŚŝƐ ŵĂƚƚĞƌ ďLJ ƚŚĞ ^ƉĞĐŝĂů :ƵĚŐĞ͕ ;W ĐƚͿ /͕ EĞǁ ĞůŚŝ͕ ƵŶĚĞƌ ƚŚĞ
ƉƌŽǀŝƐŝŽŶƐŽĨWD>ĂŶĚƚŚĞŵĂƚƚĞƌŝƐƐĐŚĞĚƵůĞĚƚŽďĞŚĞĂƌĚŽŶĞĐĞŵďĞƌϳ͕ϮϬϮϰ͘

dŚĞ ŽŵƉĂŶLJ ŚĂƐ ďĞĞŶ ƉƌŽǀŝĚŝŶŐ ŝŶĨŽƌŵĂƚŝŽŶ ƐŽƵŐŚƚ ďLJ ƚŚĞ / ĂŶĚ  ŝŶ ƚŚŝƐ ƌĞŐĂƌĚ ĂŶĚ ŝŶƚĞŶĚƐ ƚŽ ĐŽŶƚŝŶƵĞ ĐŽŽƉĞƌĂƚŝŶŐ͕ ĂƐ ƌĞƋƵŝƌĞĚ ďLJ
ĂƉƉůŝĐĂďůĞ ůĂǁƐ ĂŶĚ ƌĞůĞǀĂŶƚ ĐŽƵƌƚ ŽƌĚĞƌƐ͘ dŚĞ ŽŵƉĂŶLJ ĂŶĚ ŝƚƐ D ŝƐ ƚĂŬŝŶŐ ƐƵĐŚ ůĞŐĂů ŵĞĂƐƵƌĞƐ ĂƐ ĐŽŶƐŝĚĞƌĞĚ ŶĞĐĞƐƐĂƌLJ ŝŶ ƌĞƐƉĞĐƚ ŽĨ ƚŚĞƐĞ
ŽŶŐŽŝŶŐ ƉƌŽĐĞĞĚŝŶŐƐ͘ ^ƵƉƉŽƌƚĞĚ ďLJ Ă ůĞŐĂů ŽƉŝŶŝŽŶ ŽďƚĂŝŶĞĚ͕ ŵĂŶĂŐĞŵĞŶƚ ďĞůŝĞǀĞƐ ƚŚĂƚ ƚŚĞ ŽŵƉĂŶLJ ŚĂƐ Ă ƐƚƌŽŶŐ ĐĂƐĞ ŝŶ ŝƚƐ ĨĂǀŽƵƌ ŽŶ ŵĞƌŝƚ
ĂŶĚ ůĂǁ ŝŶ ƚŚĞƐĞ ŵĂƚƚĞƌƐ͘ ĐĐŽƌĚŝŶŐůLJ͕ ŶŽ ĂĚũƵƐƚŵĞŶƚ ƚŽ ƚŚĞƐĞ ĨŝŶĂŶĐŝĂů ƌĞƐƵůƚƐ ŝŶ ƚŚŝƐ ƌĞŐĂƌĚ ŚĂǀĞ ďĞĞŶ ĐŽŶƐŝĚĞƌĞĚ ŶĞĐĞƐƐĂƌLJ ďLJ ƚŚĞ
ŵĂŶĂŐĞŵĞŶƚ͘

ϳ͘ ĂƐĞĚ ŽŶ ƚŚĞ ŽŵƉĂŶLJΖƐ ŝŶƚĞƌŶĂů ƐƚƌƵĐƚƵƌĞ ĂŶĚ ŝŶĨŽƌŵĂƚŝŽŶ ƌĞǀŝĞǁĞĚ ďLJ ƚŚĞ ŚŝĞĨ KƉĞƌĂƚŝŶŐ ĞĐŝƐŝŽŶ DĂŬĞƌ ƚŽ ĂƐƐĞƐƐĞƐ ƚŚĞ ŽŵƉĂŶLJΖƐ
ĨŝŶĂŶĐŝĂů ƉĞƌĨŽƌŵĂŶĐĞ͕ ƚŚĞ ŽŵƉĂŶLJ ŝƐ ĞŶŐĂŐĞĚ ƐŽůĞůLJ ŝŶ ƚŚĞ ďƵƐŝŶĞƐƐ ŽĨ ŵĂŶƵĨĂĐƚƵƌĞ ĂŶĚ ƐĂůĞ ŽĨ ƐƚĞĞů ǁŝƌĞƐ͕ ƐƚƌĂŶĚƐ͕ ǁŝƌĞ ƌŽƉĞƐ͕ ĐŽƌĚƐ͕
ƌĞůĂƚĞĚ ĂĐĐĞƐƐŽƌŝĞƐ͕ ǁŝƌĞ ĚƌĂǁŝŶŐ ĂŶĚ ĂůůŝĞĚ ŵĂĐŚŝŶĞƐ͕ ĞƚĐ͘ ĐĐŽƌĚŝŶŐůLJ͕ ƚŚĞ ŽŵƉĂŶLJ ŚĂƐ ŽŶůLJ ŽŶĞ ƌĞƉŽƌƚĂďůĞ ƐĞŐŵĞŶƚ͕ ŝ͘Ğ͕͘ ΗtŝƌĞ Θ tŝƌĞ
ZŽƉĞƐΗ͘
RAJEEV Digitally signed by
RAJEEV JHAWAR
Date: 2024.11.06
JHAWAR 17:49:01 +08'00'
ZĂũĞĞǀ:ŚĂǁĂƌ
DĂŶĂŐŝŶŐŝƌĞĐƚŽƌ
ĂƚĞĚ͗EŽǀĞŵďĞƌϬϲ͕ϮϬϮϰ WůĂĐĞ͗^ŝŶŐĂƉŽƌĞ

h^,DZd/E>/D/d
ZĞŐŝƐƚĞƌĞĚĂŶĚŽƌƉŽƌĂƚĞKĨĨŝĐĞ͗Ϯ͕^ŚĂŬĞƐƉĞĂƌĞ^ĂƌĂŶŝ͕<ŽůŬĂƚĂͲϳϬϬϬϳϭ͕/ŶĚŝĂ
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tĞďƐŝƚĞ͗ǁǁǁ͘ƵƐŚĂŵĂƌƚŝŶ͘ĐŽŵ
ŵĂŝů͗ŝŶǀĞƐƚŽƌΛƵƐŚĂŵĂƌƚŝŶ͘ĐŽ͘ŝŶ
/E͗>ϯϭϰϬϬtϭϵϴϲW>ϬϵϭϲϮϭ