RESTOBAR ONCE SPA

WĄŐŝŶĂϭĚĞϳ

Z&KZDh>Z'K^ Yh/E/Z^dKZKE ^W͕d/dh>Z͞Z^dKZϭϭ͟zZ^h>s>KYh /E/

Z^͘y͘EΣϮͬZK>ͲϮϮϲͲϮϬϮ5

^ĂŶƚŝĂŐŽ͕ϭϮĚĞĞŶĞƌŽĚĞϮϬϮ6

s/^dK^͗

ŽŶĨŽƌŵĞĐŽŶůŽĚŝƐƉƵĞƐƚŽĞŶĞůĂƌƚşĐƵůŽϮΣĚĞůĂ>ĞLJEΣ ϮϬ͘ϰϭϳ͕ ƋƵĞ ƐƚĂďůĞĐĞ ůĂ >ĞLJ KƌŐĄŶŝĐĂ ĚĞ ůĂ ^ƵƉĞƌŝŶƚĞŶĚĞŶĐŝĂ ĚĞů DĞĚŝŽ ŵďŝĞŶƚĞ ;ĞŶ ĂĚĞůĂŶƚĞ͕ ͞>K^D͟Ϳ͖ĞŶůĂ>ĞLJϭϵ͘ϯϬϬ͕ƐŽďƌĞĂƐĞƐ'ĞŶĞƌĂůĞƐĚĞůDĞĚŝŽŵďŝĞŶƚĞ͖ĞŶůĂ>ĞLJEΣϭϵ͘ϴϴϬ͕ƋƵĞ ƐƚĂďůĞĐĞ ĂƐĞƐ ĚĞ ůŽƐ WƌŽĐĞĚŝŵŝĞŶƚŽƐ ĚŵŝŶŝƐƚƌĂƚŝǀŽƐ ƋƵĞ ZŝŐĞŶ ůŽƐ ĐƚŽƐ ĚĞ ůŽƐ MƌŐĂŶŽƐ ĚĞ ůĂ ĚŵŝŶŝƐƚƌĂĐŝſŶĚĞůƐƚĂĚŽ͖ĞŶĞůĞĐƌĞƚŽĐŽŶ&ƵĞƌnjĂĚĞ>ĞLJEΣϯ͕ĚĞϭϯĚĞŵĂLJŽĚĞϮϬϭϬ͕ĚĞůDŝŶŝƐƚĞƌŝŽ ^ĞĐƌĞƚĂƌşĂ 'ĞŶĞƌĂů ĚĞ ůĂ WƌĞƐŝĚĞŶĐŝĂ͕ ƋƵĞ &ŝũĂ ůĂ WůĂŶƚĂ ĚĞ ůĂ ^ƵƉĞƌŝŶƚĞŶĚĞŶĐŝĂ ĚĞů DĞĚŝŽ ŵďŝĞŶƚĞ͖ ZĞƐŽůƵĐŝſŶ džĞŶƚĂ EΣ ϭ͘ϯϯϴ ĚĞ ϮϬϮϱ͕ ƋƵĞ ĨŝũĂ ůĂ KƌŐĂŶŝnjĂĐŝſŶ /ŶƚĞƌŶĂ ĚĞ ůĂ ^ƵƉĞƌŝŶƚĞŶĚĞŶĐŝĂĚĞůDĞĚŝŽŵďŝĞŶƚĞ͕LJƐƵƐŵŽĚŝĨŝĐĂĐŝŽŶĞƐƉŽƐƚĞƌŝŽƌĞƐ͖ĞŶůĂZĞƐŽůƵĐŝſŶdžĞŶƚĂZ ϭϭϵϭϮϯͬϭϱϮͬϮϬϮϯ͕ ĚĞ ϯϬ ĚĞ ŽĐƚƵďƌĞ ĚĞ ϮϬϮϯ͕ ĚĞ ůĂ ^ƵƉĞƌŝŶƚĞŶĚĞŶĐŝĂ ĚĞů DĞĚŝŽ ŵďŝĞŶƚĞ͕ ƋƵĞ EŽŵďƌĂ:ĞĨĂƚƵƌĂĚĞŝǀŝƐŝſŶĚĞ^ĂŶĐŝſŶLJƵŵƉůŝŵŝĞŶƚŽ͖ĞŶĞůĞĐƌĞƚŽ^ƵƉƌĞŵŽEΣϯϴ͕ĚĞϭϭĚĞ ŶŽǀŝĞŵďƌĞĚĞϮϬϭϭ͕ĚĞůDŝŶŝƐƚĞƌŝŽĚĞůDĞĚŝŽŵďŝĞŶƚĞ͕ƋƵĞƐƚĂďůĞĐĞEŽƌŵĂĚĞŵŝƐŝſŶĚĞZƵŝĚŽƐ 'ĞŶĞƌĂĚŽƐƉŽƌ&ƵĞŶƚĞƐƋƵĞ/ŶĚŝĐĂ;ĞŶĂĚĞůĂŶƚĞ͕͘͞^͘EΣϯϴͬϮϬϭϭ͟Ϳ͖ĞŶůĂZĞƐŽůƵĐŝſŶdžĞŶƚĂEΣϲϵϯ͕ ĚĞϮϭĚĞĂŐŽƐƚŽĚĞϮϬϭϱ͕ĚĞůĂ^ƵƉĞƌŝŶƚĞŶĚĞŶĐŝĂĚĞůDĞĚŝŽŵďŝĞŶƚĞ͕ƋƵĞƉƌƵĞďĂŽŶƚĞŶŝĚŽLJ &ŽƌŵĂƚŽƐĚĞůĂƐ&ŝĐŚĂƐƉĂƌĂ/ŶĨŽƌŵĞdĠĐŶŝĐŽĚĞůWƌŽĐĞĚŝŵŝĞŶƚŽ'ĞŶĞƌĂůĚĞĞƚĞƌŵŝŶĂĐŝſŶĚĞůEŝǀĞů ĚĞ WƌĞƐŝſŶ ^ŽŶŽƌĂ ŽƌƌĞŐŝĚŽ͖ ĞŶ ůĂ ZĞƐŽůƵĐŝſŶ džĞŶƚĂ EΣ ϰϵϭ͕ ĚĞ ϯϭ ĚĞ ŵĂLJŽ ϮϬϭϲ͕ ĚĞ ůĂ ^ƵƉĞƌŝŶƚĞŶĚĞŶĐŝĂĚĞůDĞĚŝŽŵďŝĞŶƚĞ͕ƋƵĞŝĐƚĂ/ŶƐƚƌƵĐĐŝſŶĚĞĂƌĄĐƚĞƌ'ĞŶĞƌĂůƐŽďƌĞƌŝƚĞƌŝŽƐƉĂƌĂ ,ŽŵŽůŽŐĂĐŝſŶĚĞŽŶĂƐĚĞů͘^͘EΣϯϴͬϮϬϭϭĚĞůDŝŶŝƐƚĞƌŝŽĚĞůDĞĚŝŽŵďŝĞŶƚĞ͖ĞŶůĂZĞƐŽůƵĐŝſŶ džĞŶƚĂEΣϴϲϳ͕ĚĞϭϲĚĞƐĞƉƚŝĞŵďƌĞϮϬϭϲ͕ĚĞůĂ^ƵƉĞƌŝŶƚĞŶĚĞŶĐŝĂĚĞůDĞĚŝŽŵďŝĞŶƚĞ͕ƋƵĞƉƌƵĞďĂ WƌŽƚŽĐŽůŽdĠĐŶŝĐŽƉĂƌĂůĂ&ŝƐĐĂůŝnjĂĐŝſŶĚĞů͘^͘EΣϯϴͬϮϬϭϭ͖ĞŶůĂZĞƐŽůƵĐŝſŶdžĞŶƚĂEΣϭ͘ϰϭϭ͕ĚĞϭϱĚĞ ũƵůŝŽĚĞϮϬϮϱ͕ĚĞůĂ^ƵƉĞƌŝŶƚĞŶĚĞŶĐŝĂĚĞůDĞĚŝŽŵďŝĞŶƚĞ͕ƋƵĞƉƌƵĞďĂ'ƵşĂƉĂƌĂůĂWƌĞƐĞŶƚĂĐŝſŶĚĞ ƵŶWƌŽŐƌĂŵĂĚĞƵŵƉůŝŵŝĞŶƚŽ͕/ŶĨƌĂĐĐŝŽŶĞƐĂůĂEŽƌŵĂĚĞŵŝƐŝſŶĚĞZƵŝĚŽƐ͖ĞŶůĂZĞƐŽůƵĐŝſŶdžĞŶƚĂ EΣϭ͘ϬϮϲ͕ĚĞϮϲĚĞŵĂLJŽĚĞϮϬϮϱ͕ĚĞůĂ^ƵƉĞƌŝŶƚĞŶĚĞŶĐŝĂĚĞůDĞĚŝŽŵďŝĞŶƚĞ͕ƋƵĞĨŝũĂůĂƐZĞŐůĂƐĚĞ &ƵŶĐŝŽŶĂŵŝĞŶƚŽĚĞKĨŝĐŝŶĂĚĞWĂƌƚĞƐ͕KĨŝĐŝŶĂƐZĞŐŝŽŶĂůĞƐLJ^ĞĐĐŝſŶĚĞƚĞŶĐŝſŶĂWƷďůŝĐŽLJZĞŐƵůĂĚŽƐ ĚĞůĂ^ƵƉĞƌŝŶƚĞŶĚĞŶĐŝĂĚĞůDĞĚŝŽŵďŝĞŶƚĞ;ĞŶĂĚĞůĂŶƚĞ͕͞ZĞƐ͘dž͘EΣϭϬϮϲͬϮϬϮϱ͟Ϳ͖LJ͕ĞŶůĂZĞƐŽůƵĐŝſŶ EΣϯϲ͕ĚĞϭϵĚĞĚŝĐŝĞŵďƌĞĚĞϮϬϮϰ͕ĚĞůĂŽŶƚƌĂůŽƌşĂ'ĞŶĞƌĂůĚĞůĂZĞƉƷďůŝĐĂ͕ƋƵĞ&ŝũĂEŽƌŵĂƐ^ŽďƌĞ džĞŶĐŝſŶĚĞůdƌĄŵŝƚĞĚĞdŽŵĂĚĞZĂnjſŶ͘

(VWHGRFXPHQWRKDVLGRILUPDGRHOHFWUyQLFDPHQWHGHDFXHUGRFRQODOH\1ƒ 3DUDYHULILFDUODLQWHJULGDG\DXWHQWLFLGDGGHHVWHGRFXPHQWRLQJUHVHDOVLJXLHQWHOLQN KWWSVGRFGLJLWDOJREFOYDOLGDGRU.7.

WĄŐŝŶĂϮĚĞϳ

KE^/ZEK͗

/͘ EdEd^ > WZK/D/EdK ^E/KEdKZ/KZK>ͲϮϮϲͲϮϬϮϱ

ϭ͘ WŽƌŵĞĚŝŽĚĞůĂZĞƐŽůƵĐŝſŶdžĞŶƚĂEΣϭͬZŽůͲ ϮϮϲͲϮϬϮϱ͕ĚĞĨĞĐŚĂϭĚĞƐĞƉƚŝĞŵďƌĞĚĞϮϬϮϱ͕ůĂ^ƵƉĞƌŝŶƚĞŶĚĞŶĐŝĂĚĞůDĞĚŝŽŵďŝĞŶƚĞĨŽƌŵƵůſĐĂƌŐŽƐ ĂĞůƚƌĄŶŽƌƚĠƐƌŝĞů͕ƚŝƚƵůĂƌĚĞůĞƐƚĂďůĞĐŝŵŝĞŶƚŽ͞ZĞƐƚŽďĂƌϭϭ͕͟ƵďŝĐĂĚŽĞŶĐĂůůĞZĂŵſŶ&ƌĞŝƌĞEΣϭϭ͕ ĐŽŵƵŶĂĚĞWĂŶŐƵŝƉƵůůŝ͕ZĞŐŝſŶĚĞ>ŽƐZşŽƐ͕ĞŶǀŝƌƚƵĚĚĞƵŶĂŝŶĨƌĂĐĐŝſŶƚŝƉŝĨŝĐĂĚĂĞŶĞůĂƌƚşĐƵůŽϯϱůĞƚƌĂ ŚͿĚĞůĂ>K^D͕ĞŶĐƵĂŶƚŽĂůŝŶĐƵŵƉůŝŵŝĞŶƚŽĚĞŶŽƌŵĂƐĚĞĞŵŝƐŝſŶ͘

Ϯ͘ ŝĐŚĂ ƌĞƐŽůƵĐŝſŶ͕ ĨƵĞ ŶŽƚŝĨŝĐĂĚĂ ĐŽŶ ĨĞĐŚĂ Ϯϰ ĚĞ ŽĐƚƵďƌĞĚĞϮϬϮϱĚĞĨŽƌŵĂƉĞƌƐŽŶĂůĞŶůĂƵŶŝĚĂĚĨŝƐĐĂůŝnjĂďůĞ͘

ϯ͘ ŽŶĨĞĐŚĂϭϭĚĞŶŽǀŝĞŵďƌĞĚĞϮϬϮϱ͕ĚŽŶĚƌŝĄŶ ǀĞŶĚĂŹŽ͕ĞŶƌĞƉƌĞƐĞŶƚĂĐŝſŶĚĞZĞƐƚŽďĂƌKŶĐĞ^ƉͲĂĐƌĞĚŝƚĄŶĚŽůŽĂƚƌĂǀĠƐĚĞůĂƉƌĞƐĞŶƚĂĐŝſŶĚĞů ĐĞƌƚŝĨŝĐĂĚŽ ĚĞ ĞƐƚĂƚƵƚŽ ĂĐƚƵĂůŝnjĂĚŽ ĚĞ ůĂ ƐŽĐŝĞĚĂĚͲ͕ ƉƌĞƐĞŶƚſ ƵŶĂ ƐŽůŝĐŝƚƵĚ ĚĞ ĂƐŝƐƚĞŶĐŝĂ Ăů ĐƵŵƉůŝŵŝĞŶƚŽ͕ůĂĐƵĂůƐĞůůĞǀſĂĐĂďŽĐŽŶĨĞĐŚĂϭϯĚĞŶŽǀŝĞŵďƌĞĚĞϮϬϮϱĚĞŵĂŶĞƌĂƚĞůĞŵĄƚŝĐĂ͘Ŷ ĞůůĂ͕ƐĞĚĞĐůĂƌſƋƵĞĚŽŶƌŝĞůĞůƚƌĄŶŽƌƚĠƐŶŽĐŽƌƌĞƐƉŽŶĚĞĂůƚŝƚƵůĂƌĚĞůĂƵŶŝĚĂĚĨŝƐĐĂůŝnjĂďůĞ͕ƚŽĚĂ ǀĞnjƋƵĞŶŽŐƵĂƌĚĂƌĞůĂĐŝſŶĐŽŶĞůŝŶŵƵĞďůĞ͕LJƋƵĞĞůƚŝƚƵůĂƌĚĞĠƐƚĂĞƐůĂƐŽĐŝĞĚĂĚĚĞůĂƋƵĞĠůĞƐ ƌĞƉƌĞƐĞŶƚĂŶƚĞ͘ ϰ͘

ƵĞŐŽ͕ ĐŽŶ ĨĞĐŚĂ Ϯϰ ĚĞ ŶŽǀŝĞŵďƌĞ ĚĞ ϮϬϮϱ͕ Ğů ƚŝƚƵůĂƌ ƉƌĞƐĞŶƚſ ƵŶ WƌŽŐƌĂŵĂ ĚĞ ƵŵƉůŝŵŝĞŶƚŽ͘ Ŷ Ġů͕ ƐĞ ĂĚũƵŶƚſ Ğů ĐŽŶƚƌĂƚŽ ĚĞ ĂƌƌĞŶĚĂŵŝĞŶƚŽ ĐĞůĞďƌĂĚŽĞŶƚƌĞĂŶŶLJZŽĚƌŝŐƵĞnjĞůƚƌĄŶLJ'ĞƌŵĄŶǀĞŶĚĂŹŽĐŚĂŐƵĞ͘

//͘ Z&KZDh>/MEZ'K^

ϱ͘ ĞůĂŶĄůŝƐŝƐĚĞůŽƐĚŽĐƵŵĞŶƚŽƐŝŶĚŝǀŝĚƵĂůŝnjĂĚŽƐĞŶ ůŽƐĐŽŶƐŝĚĞƌĂŶĚŽƐϯLJϰ͕ƌĞƐƵůƚĂĂůĂǀŝƐƚĂƋƵĞĞůĂƌƌĞŶĚĂƚĂƌŝŽĚĞůŝŶŵƵĞďůĞĚŽŶĚĞƐĞĞŵƉůĂnjĂůĂƵŶŝĚĂĚ ĨŝƐĐĂůŝnjĂďůĞĐŽƌƌĞƐƉŽŶĚĞĂ'ĞƌŵĄŶǀĞŶĚĂŹŽĐŚĂŐƺĞ͕ƋƵĞĂƐƵǀĞnj͕ƐĞŐƷŶůŽƋƵĞƐĞĂƉƌĞĐŝĂĞŶĞů ĐĞƌƚŝĨŝĐĂĚŽĚĞĞƐƚĂƚƵƚŽĂĐƚƵĂůŝnjĂĚŽĚĞZĞƐƚŽďĂƌKŶĐĞ^Ɖ͕ĨŝŐƵƌĂĐŽŵŽƵŶŽĚĞůŽƐƐŽĐŝŽƐĞŶĚŝĐŚĂ ĞŵƉƌĞƐĂ͘ ϲ͘ ƐşŵŝƐŵŽ͕ĚĞůĂƌĞǀŝƐŝſŶĚĞůŽƐĚĂƚŽƐĚĞů^ĞƌǀŝĐŝŽ ĚĞ/ŵƉƵĞƐƚŽƐ/ŶƚĞƌŶŽƐĐŽŶůŽƐƋƵĞĐƵĞŶƚĂĞƐƚĂ^ƵƉĞƌŝŶƚĞŶĚĞŶĐŝĂϭ͕ƐĞĞdžƚƌĂĞƋƵĞĞůŐŝƌŽĚĞůĂƐŽĐŝĞĚĂĚ ĐŽƌƌĞƐƉŽŶĚĞĂ͞ĐƚŝǀŝĚĂĚĞƐĚĞƌĞƐƚĂƵƌĂŶƚĞƐLJĚĞƐĞƌǀŝĐŝŽŵſǀŝůĚĞĐŽŵŝĚĂƐ͟

ϭ^ŝƚƵĂĐŝſŶƚƌŝďƵƚĂƌŝĂĚĞƚĞƌĐĞƌŽƐ͕ĚŝƐƉŽŶŝďůĞĞŶ͗njĞƵƐ͘Ɛŝŝ͘ĐůͬĐǀĐͬƐƚĐͬƐƚĐ͘Śƚŵů (VWHGRFXPHQWRKDVLGRILUPDGRHOHFWUyQLFDPHQWHGHDFXHUGRFRQODOH\1ƒ 3DUDYHULILFDUODLQWHJULGDG\DXWHQWLFLGDGGHHVWHGRFXPHQWRLQJUHVHDOVLJXLHQWHOLQN KWWSVGRFGLJLWDOJREFOYDOLGDGRU.7.

WĄŐŝŶĂϯĚĞϳ

ϳ͘ ŽŶƐŝĚĞƌĂŶĚŽůŽƐĚĂƚŽƐƉƌĞǀŝĂŵĞŶƚĞŝŶĚŝĐĂĚŽƐ͕ƐĞ ĞdžƚƌĂĞƋƵĞůĂƐŽĐŝĞĚĂĚƋƵĞĞũĞƌĐĞůĂĂĚŵŝŶŝƐƚƌĂĐŝſŶĚĞůĂƵŶŝĚĂĚĨŝƐĐĂůŝnjĂďůĞ͕ĐŽƌƌĞƐƉŽŶĚĞĂůĂ^ŽĐŝĞĚĂĚ ͞ZĞƐƚŽďĂƌKŶĐĞ^Ɖ͘͟ ϴ͘ ŶĂƚĞŶĐŝſŶĚĞůŽĞdžƉƵĞƐƚŽ͕ĞŶĞůƉƌĞƐĞŶƚĞĂĐƚŽƐĞ ƉƌŽĐĞĚĞƌĄĂůĂƌĞĨŽƌŵƵůĂĐŝſŶĚĞĐĂƌŐŽƐĚĞůƉƌĞƐĞŶƚĞƉƌŽĐĞĚŝŵŝĞŶƚŽĂĚŵŝŶŝƐƚƌĂƚŝǀŽ͕ĚĞůĂĨŽƌŵĂƋƵĞƐĞ ŝŶĚŝĐĂƌĄĞůZĞƐƵĞůǀŽ/͕ŵŽĚŝĨŝĐĄŶĚŽƐĞĞůƚŝƚƵůĂƌĚĞůĂƵŶŝĚĂĚĨŝƐĐĂůŝnjĂďůĞ͘ƐŝŵŝƐŵŽ͕ĞŶƚŝĠŶĚĂƐĞƋƵĞŶŽ ƐĞĂĨĞĐƚĂĞůĚĞƌĞĐŚŽĂĚĞĨĞŶƐĂũƵƌşĚŝĐĂĚĞůƉƌĞƐƵŶƚŽŝŶĨƌĂĐƚŽƌ͕ĞŶĂƚĞŶĐŝſŶĂƋƵĞ͕ŵĞĚŝĂŶƚĞůŽƋƵĞƐĞ ĚŝƐƉŽŶĚƌĄĞŶůŽƐZĞƐƵĞůǀŽƐ///LJ/sĚĞĞƐƚĞĂĐƚŽĂĚŵŝŶŝƐƚƌĂƚŝǀŽ͕ƐĞĐŽŶĐĞĚĞƌĄŶŶƵĞǀĂŵĞŶƚĞůŽƐƉůĂnjŽƐ ĐŽŶƚĞŵƉůĂĚŽƐĞŶůŽƐĂƌƚşĐƵůŽƐϰϮLJϰϵĚĞůĂ>K^D͕ĞƐƚŽĞƐ͕ƚĂŶƚŽƉĂƌĂůĂƉƌĞƐĞŶƚĂĐŝſŶĚĞƵŶƉƌŽŐƌĂŵĂ ĚĞĐƵŵƉůŝŵŝĞŶƚŽĐŽŵŽĚĞƐĐĂƌŐŽƐ͘ Z^h>sK͗

/͘ Z&KZDh>Z > Z'K /E/K E > Z^K>h/MEyEdEΣϭͬZK>ͲϮϮϲͲϮϬϮϱ͕ŵĂŶƚĞŶŝĞŶĚŽůĂĐůĂƐŝĨŝĐĂĐŝſŶĚĞŐƌĂǀĞĚĂĚLJĞůĐĂƌĄĐƚĞƌ ĚĞŝŶƚĞƌĞƐĂĚŽƐƐĞŹĂůĂĚŽƐŽƌŝŐŝŶĂůŵĞŶƚĞ͕ĞŶůŽƐƐŝŐƵŝĞŶƚĞƐƚĠƌŵŝŶŽƐ͗

&KZDh>ZZ'K^ĞŶĐŽŶƚƌĂĚĞZĞƐƚŽďĂƌKŶĐĞ ^Ɖ͕ZŽůjŶŝĐŽdƌŝďƵƚĂƌŝŽEΣϳϳ͘ϵϭϮ͘ϬϴϳͲϮ͕ƚŝƚƵůĂƌĚĞůĞƐƚĂďůĞĐŝŵŝĞŶƚŽ͞ZĞƐƚŽďĂƌϭϭ͕͟ƵďŝĐĂĚŽĞŶĐĂůůĞ ZĂŵſŶ&ƌĞŝƌĞEΣϭϭ͕ĐŽŵƵŶĂĚĞWĂŶŐƵŝƉƵůůŝ͕ZĞŐŝſŶĚĞ>ŽƐZşŽƐ͕ƉŽƌůĂƐŝŐƵŝĞŶƚĞŝŶĨƌĂĐĐŝſŶ͗

ϭ͘ ůƐŝŐƵŝĞŶƚĞŚĞĐŚŽ͕ĂĐƚŽƵŽŵŝƐŝſŶƋƵĞĐŽŶƐƚŝƚƵLJĞ ƵŶĂŝŶĨƌĂĐĐŝſŶĐŽŶĨŽƌŵĞĂůĂƌƚşĐƵůŽϯϱ͕ůĞƚƌĂŚͿ͕ĚĞůĂ>K^D͕ĞŶĐƵĂŶƚŽŝŶĐƵŵƉůŝŵŝĞŶƚŽĚĞŶŽƌŵĂƐĚĞ ĞŵŝƐŝſŶ͗

EΣ ,ĞĐŚŽĐŽŶƐƚŝƚƵƚŝǀŽ ĚĞŝŶĨƌĂĐĐŝſŶ EŽƌŵĂĚĞŵŝƐŝſŶ ůĂƐŝĨŝĐĂĐŝſŶĚĞ ŐƌĂǀĞĚĂĚLJƌĂŶŐŽĚĞ ƐĂŶĐŝſŶ ϭ

Ă ŽďƚĞŶĐŝſŶ͕ ĐŽŶ ĨĞĐŚĂϮϱĚĞĞŶĞƌŽĚĞ ϮϬϮϱ͕ĚĞƵŶEŝǀĞůĚĞ WƌĞƐŝſŶ ^ŽŶŽƌĂ ŽƌƌĞŐŝĚŽ ;EWͿ ĚĞ ϲϭ Ě;Ϳ͕ ŵĞĚŝĐŝſŶ ĞĨĞĐƚƵĂĚĂĞŶŚŽƌĂƌŝŽ ŶŽĐƚƵƌŶŽ͕ ĞŶ ĐŽŶĚŝĐŝſŶ ŝŶƚĞƌŶĂ͕ ͘^͘EΣϯϴͬϮϬϭϭ͕dşƚƵůŽ/s͕ĂƌƚşĐƵůŽϳ͗

͞>ŽƐŶŝǀĞůĞƐĚĞƉƌĞƐŝſŶƐŽŶŽƌĂĐŽƌƌĞŐŝĚŽƐƋƵĞ ƐĞ ŽďƚĞŶŐĂŶ ĚĞ ůĂ ĞŵŝƐŝſŶ ĚĞ ƵŶĂ ĨƵĞŶƚĞ ĞŵŝƐŽƌĂĚĞƌƵŝĚŽ͕ŵĞĚŝĚŽƐĞŶĞůůƵŐĂƌĚŽŶĚĞƐĞ ĞŶĐƵĞŶƚƌĞĞůƌĞĐĞƉƚŽƌ͕ŶŽƉŽĚƌĄŶĞdžĐĞĚĞƌůŽƐ ǀĂůŽƌĞƐĚĞůĂdĂďůĂEΣϭ͗͟

ĞǀĞ͕ ĐŽŶĨŽƌŵĞ Ăů ĂƌƚşĐƵůŽ ϯϲ͕ ŶƷŵĞƌŽ ϯ͕ĚĞůĂ>K^D͘

ŵŽŶĞƐƚĂĐŝſŶ ƉŽƌ ĞƐĐƌŝƚŽ Ž ŵƵůƚĂ ĚĞ ƵŶĂ ŚĂƐƚĂ ϭ͘ϬϬϬ hd͕ ĐŽŶĨŽƌŵĞ Ăů (VWHGRFXPHQWRKDVLGRILUPDGRHOHFWUyQLFDPHQWHGHDFXHUGRFRQODOH\1ƒ 3DUDYHULILFDUODLQWHJULGDG\DXWHQWLFLGDGGHHVWHGRFXPHQWRLQJUHVHDOVLJXLHQWHOLQN KWWSVGRFGLJLWDOJREFOYDOLGDGRU.7.

WĄŐŝŶĂϰĚĞϳ

EΣ ,ĞĐŚŽĐŽŶƐƚŝƚƵƚŝǀŽ ĚĞŝŶĨƌĂĐĐŝſŶ EŽƌŵĂĚĞŵŝƐŝſŶ ůĂƐŝĨŝĐĂĐŝſŶĚĞ ŐƌĂǀĞĚĂĚLJƌĂŶŐŽĚĞ ƐĂŶĐŝſŶ ĐŽŶǀĞŶƚĂŶĂĂďŝĞƌƚĂLJ ĞŶ ƵŶ ƌĞĐĞƉƚŽƌ ƐĞŶƐŝďůĞ ƵďŝĐĂĚŽ ĞŶ ŽŶĂ//͘ ŽŶĂ ĞϮϭĂϳ ŚŽƌĂƐ΀Ě;Ϳ΁ // ϰϱ

ĂƌƚşĐƵůŽ ϯϵ͕ ůĞƚƌĂ ĐͿ͕ ĚĞůĂ>K^D͘

ĂĐůĂƐŝĨŝĐĂĐŝſŶĚĞůĂŝŶĨƌĂĐĐŝſŶĂŶƚĞƐŵĞŶĐŝŽŶĂĚĂ ƉŽĚƌĄ ƐĞƌ ĐŽŶĨŝƌŵĂĚĂ Ž ŵŽĚŝĨŝĐĂĚĂ ĞŶ ůĂ ƉƌŽƉƵĞƐƚĂ ĚĞ ĚŝĐƚĂŵĞŶ͕ ĐŽŶĨŽƌŵĞ Ăů ĂƌƚşĐƵůŽ ϱϯ ĚĞ ůĂ K^D͘^ŽďƌĞůĂďĂƐĞĚĞůŽƐĂŶƚĞĐĞĚĞŶƚĞƐƋƵĞĐŽŶƐƚĞŶĞŶĞůƉƌĞƐĞŶƚĞƉƌŽĐĞĚŝŵŝĞŶƚŽƐĂŶĐŝŽŶĂƚŽƌŝŽ͕ Ğů&ŝƐĐĂů/ŶƐƚƌƵĐƚŽƌƉƌŽƉŽŶĚƌĄůĂĂďƐŽůƵĐŝſŶŽƐĂŶĐŝſŶƋƵĞĂƐƵũƵŝĐŝŽĐŽƌƌĞƐƉŽŶĚĂĂƉůŝĐĂƌ͘>ŽĂŶƚĞƌŝŽƌ͕ ĚĞŶƚƌŽĚĞůŽƐƌĂŶŐŽƐĞƐƚĂďůĞĐŝĚŽƐĞŶĞůĂƌƚşĐƵůŽϯϵĚĞůĂ>K^DLJĐŽŶƐŝĚĞƌĂŶĚŽůĂƐĐŝƌĐƵŶƐƚĂŶĐŝĂƐ ĞƐƚĂďůĞĐŝĚĂƐĞŶĞůĂƌƚşĐƵůŽϰϬĚĞůĂ>K^D͕LJƋƵĞ͕ƐĞŐƷŶĞůĐĂƐŽ͕ĐŽƌƌĞƐƉŽŶĚĂƉŽŶĚĞƌĂƌƉĂƌĂůĂ ĚĞƚĞƌŵŝŶĂĐŝſŶĚĞůĂƐƐĂŶĐŝŽŶĞƐĞƐƉĞĐşĨŝĐĂƐƋƵĞƉƌŽĐĞĚĂŶ͘

//͘ dEZ WKZ /EKZWKZK E > yW/Ed Ğů ĐŽŶƚƌĂƚŽ ĚĞ ĂƌƌĞŶĚĂŵŝĞŶƚŽ ĞŶƚƌĞ ĂŶŶLJ ZŽĚƌşŐƵĞnj ĞůƚƌĄŶ LJ 'ĞƌŵĄŶ ǀĞŶĚĂŹŽ ĐŚĂŐƺĞ͕ LJ Ğů ĐĞƌƚŝĨŝĐĂĚŽĚĞĞƐƚĂƚƵƚŽĂĐƚƵĂůŝnjĂĚŽĚĞůĂƐŽĐŝĞĚĂĚZĞƐƚŽďĂƌKŶĐĞ^Ɖ͘

///͘ KdKZ'Z hE EhsK W>K ĚĞ ĚŝĞnj ;ϭϬͿ ĚşĂƐ ŚĄďŝůĞƐƉĂƌĂƉƌĞƐĞŶƚĂƌƵŶƉƌŽŐƌĂŵĂĚĞĐƵŵƉůŝŵŝĞŶƚŽLJĚĞƋƵŝŶĐĞ;ϭϱͿĚşĂƐŚĄďŝůĞƐƉĂƌĂĨŽƌŵƵůĂƌ ĚĞƐĐĂƌŐŽƐ͕ ĂŵďŽƐ ĐŽŶƚĂĚŽƐ ĚĞƐĚĞ ůĂ ŶŽƚŝĨŝĐĂĐŝſŶ ĚĞů ƉƌĞƐĞŶƚĞ ĂĐƚŽ ĂĚŵŝŶŝƐƚƌĂƚŝǀŽ͕ ĂƚĞŶĚŝĚŽ Ă ůĂ ƌĞĨŽƌŵƵůĂĐŝſŶĚĞĐĂƌŐŽƐĞŶĞůZĞƐƵĞůǀŽ/ĚĞĞƐƚĂƌĞƐŽůƵĐŝſŶ͕ĂƐşĐŽŵŽĂůŽĚŝƐƉƵĞƐƚŽĞŶĞůĂƌƚşĐƵůŽϰϮLJ ϰϵĚĞůĂ>K^D͘ /s͘ DW>/Z  K&//K > W>K WZ

 WZ^Ed/MEhEWZK'ZDhDW>/D/EdKz^Z'K^͘ŶǀŝƌƚƵĚĚĞůŽƐĂŶƚĞĐĞĚĞŶƚĞƐ ĂŶƚĞƌŝŽƌŵĞŶƚĞ ĞdžƉƵĞƐƚŽƐ͕ LJ ĐŽŶƐŝĚĞƌĂŶĚŽ ůĂ ĞdžŝƐƚĞŶĐŝĂ ĚĞ ƵŶ ƌĞƋƵĞƌŝŵŝĞŶƚŽ ĚĞ ŝŶĨŽƌŵĂĐŝſŶ ĞŶ ůĂ ƉƌĞƐĞŶƚĞ ƌĞƐŽůƵĐŝſŶ͕ ƐĞ ĐŽŶĐĞĚĞ ĚĞ ŽĨŝĐŝŽ ƵŶ ƉůĂnjŽ ĂĚŝĐŝŽŶĂů ĚĞ ĐŝŶĐŽ ;ϱͿ ĚşĂƐ ŚĄďŝůĞƐ ƉĂƌĂ ůĂ ƉƌĞƐĞŶƚĂĐŝſŶĚĞƵŶƉƌŽŐƌĂŵĂĚĞĐƵŵƉůŝŵŝĞŶƚŽ͕LJĚĞƐŝĞƚĞ;ϳͿĚşĂƐŚĄďŝůĞƐƉĂƌĂůĂƉƌĞƐĞŶƚĂĐŝſŶĚĞ ĚĞƐĐĂƌŐŽƐ͕ĂŵďŽƐƉůĂnjŽƐĐŽŶƚĂĚŽƐĚĞƐĚĞĞůǀĞŶĐŝŵŝĞŶƚŽĚĞůŽƐƉůĂnjŽƐŽƌŝŐŝŶĂůĞƐLJĂƌĞĨĞƌŝĚŽƐĞŶĞů ZĞƐƵĞůǀŽ/sĚĞĞƐƚĞĂĐƚŽĂĚŵŝŶŝƐƚƌĂƚŝǀŽ͘ s͘ dEZ WZ^Ed ƋƵĞ͕ ĚĞ ĐŽŶĨŽƌŵŝĚĂĚ Ă ůŽ ĞƐƚĂďůĞĐŝĚŽĞŶĞůĂƌƚşĐƵůŽϰϮĚĞůĂ>K^D͕ĞŶĐĂƐŽĚĞƋƵĞůĂŽĞůŝŶĨƌĂĐƚŽƌŽƉƚĞƉŽƌƉƌĞƐĞŶƚĂƌƵŶ ƉƌŽŐƌĂŵĂĚĞĐƵŵƉůŝŵŝĞŶƚŽĐŽŶĞůŽďũĞƚŽĚĞĂĚŽƉƚĂƌŵĞĚŝĚĂƐĚĞƐƚŝŶĂĚĂƐĂƉƌŽƉĞŶĚĞƌĂůĐƵŵƉůŝŵŝĞŶƚŽ (VWHGRFXPHQWRKDVLGRILUPDGRHOHFWUyQLFDPHQWHGHDFXHUGRFRQODOH\1ƒ 3DUDYHULILFDUODLQWHJULGDG\DXWHQWLFLGDGGHHVWHGRFXPHQWRLQJUHVHDOVLJXLHQWHOLQN KWWSVGRFGLJLWDOJREFOYDOLGDGRU.7.

WĄŐŝŶĂϱĚĞϳ

ƐĂƚŝƐĨĂĐƚŽƌŝŽĚĞůĂŶŽƌŵĂƚŝǀĂĂŵďŝĞŶƚĂůŝŶĨƌŝŶŐŝĚĂ͕LJĞŶĐĂƐŽĚĞƋƵĞĠƐƚĞƐĞĂĂƉƌŽďĂĚŽLJĚĞďŝĚĂŵĞŶƚĞ ĞũĞĐƵƚĂĚŽ͕ĞůƉƌŽĐĞĚŝŵŝĞŶƚŽƐĞĚĂƌĄƉŽƌĐŽŶĐůƵŝĚŽƐŝŶĂƉůŝĐĂĐŝſŶĚĞůĂƐĂŶĐŝſŶĂĚŵŝŶŝƐƚƌĂƚŝǀĂ͘ ^Ğ ŚĂĐĞ ƉƌĞƐĞŶƚĞ Ăů ƚŝƚƵůĂƌ ƋƵĞ ĞƐƚĂ ^ƵƉĞƌŝŶƚĞŶĚĞŶĐŝĂ ƚŝĞŶĞ ůĂ ĂƚƌŝďƵĐŝſŶ ĚĞ ƉƌŽƉŽƌĐŝŽŶĂƌ ĂƐŝƐƚĞŶĐŝĂ Ă ůŽƐ ƐƵũĞƚŽƐ ƌĞŐƵůĂĚŽƐ͕ ƐŽďƌĞ ůŽƐ ƌĞƋƵŝƐŝƚŽƐ LJ ĐƌŝƚĞƌŝŽƐ ƉĂƌĂ ůĂ ƉƌĞƐĞŶƚĂĐŝſŶ LJ ĂƉƌŽďĂĐŝſŶ ĚĞ ƵŶ ƉƌŽŐƌĂŵĂ ĚĞ ĐƵŵƉůŝŵŝĞŶƚŽ͘ WĂƌĂ ůŽ ĂŶƚĞƌŝŽƌ͕ĚĞďĞƌĄĞŶǀŝĂƌƵŶĐŽƌƌĞŽĞůĞĐƚƌſŶŝĐŽĂŽĨŝĐŝŶĂĚĞƉĂƌƚĞƐΛƐŵĂ͘ŐŽď͘Đů͖ĂůǀĂƌŽ͘ĚŽƌƚĂΛƐŵĂ͘ŐŽď͘Đů LJĂŵĂƚŝĂƐ͘ƚĂƉŝĂΛƐŵĂ͘ŐŽď͘Đů͕LJĂĐŽŵƉĂŹĂƌĞůĨŽƌŵƵůĂƌŝŽĐŽŶůŽƐĂŶƚĞĐĞĚĞŶƚĞƐĞŶĠƐƚĞƐŽůŝĐŝƚĂĚŽƐ͕ƋƵĞ ƐĞĂĚũƵŶƚĂĂůĂƉƌĞƐĞŶƚĞƌĞƐŽůƵĐŝſŶ͘ ů ƌĞƐƉĞĐƚŽ͕ ůĂ ŝǀŝƐŝſŶ ĚĞ ^ĂŶĐŝſŶ LJ ƵŵƉůŝŵŝĞŶƚŽĚĞĨŝŶŝſůĂĞƐƚƌƵĐƚƵƌĂŵĞƚŽĚŽůſŐŝĐĂƋƵĞĚĞďĞĐŽŶƚĞŶĞƌĞůƉƌŽŐƌĂŵĂĚĞĐƵŵƉůŝŵŝĞŶƚŽ͕ĞŶ ůĂ'ƵşĂDĞƚŽĚŽůſŐŝĐĂLJĨŽƌŵĂƚŽĚĞƉƌĞƐĞŶƚĂĐŝſŶ͕ƋƵĞƐĞĂĚũƵŶƚĂĂůĂƉƌĞƐĞŶƚĞƌĞƐŽůƵĐŝſŶ͘

s/͘ EdEZ^h^WE/KĞůƉůĂnjŽƉĂƌĂƉƌĞƐĞŶƚĂƌ ĚĞƐĐĂƌŐŽƐ͕ĚĞƐĚĞůĂƉƌĞƐĞŶƚĂĐŝſŶĚĞƵŶƉƌŽŐƌĂŵĂĚĞĐƵŵƉůŝŵŝĞŶƚŽ͕ĞŶĐĂƐŽĚĞƉƌĞƐĞŶƚĂƌƐĞ͕ŚĂƐƚĂůĂ ƌĞƐŽůƵĐŝſŶĚĞůŵŝƐŵŽ͘

s//͘ dEZ WKZ /EKZWKZK^ > yW/Ed ^E/KEdKZ/KůĂƐĚĞŶƵŶĐŝĂƐ͕ůŽƐĞdžƉĞĚŝĞŶƚĞƐĚĞĨŝƐĐĂůŝnjĂĐŝſŶĂŵďŝĞŶƚĂů͕ůĂƐĨŝĐŚĂƐĚĞŝŶĨŽƌŵĂĐŝſŶ ĚĞŵĞĚŝĐŝſŶĚĞƌƵŝĚŽƐ͕LJƚŽĚŽƐĂƋƵĞůůŽƐĂĐƚŽƐĂĚŵŝŶŝƐƚƌĂƚŝǀŽƐĚĞůĂ^DĂůŽƐƋƵĞƐĞŚĂĐĞĂůƵƐŝſŶ ĞŶůĂƉƌĞƐĞŶƚĞƌĞĨŽƌŵƵůĂĐŝſŶĚĞĐĂƌŐŽƐ͘

^Ğ ŚĂĐĞ ƉƌĞƐĞŶƚĞ ƋƵĞ͕ Ğů ĞdžƉĞĚŝĞŶƚĞ ĚĞ ĨŝƐĐĂůŝnjĂĐŝſŶƐĞĞŶĐƵĞŶƚƌĂĚŝƐƉŽŶŝďůĞ͕ƐſůŽƉĂƌĂĞĨĞĐƚŽƐĚĞƚƌĂŶƐƉĂƌĞŶĐŝĂĂĐƚŝǀĂ͕ĞŶĞůǀşŶĐƵůŽ^E/& ĚĞ ůĂ ƉĄŐŝŶĂ ǁĞď ŚƚƚƉ͗ͬͬǁǁǁ͘ƐŵĂ͘ŐŽď͘Đů͕ͬ ĐŽŶ ĞdžĐĞƉĐŝſŶ ĚĞ ĂƋƵĞůůŽƐ ƋƵĞ ƉŽƌ ƐƵ ƚĂŵĂŹŽ Ž ĐĂƌĂĐƚĞƌşƐƚŝĐĂƐŶŽƉƵĞĚĂŶƐĞƌŝŶĐŽƌƉŽƌĂĚŽƐĂůƐŝƐƚĞŵĂĚŝŐŝƚĂů͕ůŽƐƋƵĞĞƐƚĂƌĄŶĚŝƐƉŽŶŝďůĞƐĞŶĨŽƌŵĂ ŵĂƚĞƌŝĂĞŶůĂƐŽĨŝĐŝŶĂƐĚĞĞƐƚĂ^ƵƉĞƌŝŶƚĞŶĚĞŶĐŝĂ͕ƵďŝĐĂĚĂĞŶdĞĂƚŝŶŽƐEΣϮϴϬ͕ƉŝƐŽϵ͕ĐŽŵƵŶĂĚĞ ^ĂŶƚŝĂŐŽĞŶƚƌŽ͘

s///͘ ZYhZ/Z /E&KZD/ME  Z^dKZ KE ^W͕ƉĂƌĂƋƵĞ͕ĚĞŶƚƌŽĚĞůŵŝƐŵŽƉůĂnjŽƉĂƌĂƉƌĞƐĞŶƚĂƌƵŶƉƌŽŐƌĂŵĂĚĞĐƵŵƉůŝŵŝĞŶƚŽŽĚĞƐĐĂƌŐŽƐ͕ĞŶ ĐŽŶũƵŶƚŽĐŽŶĚŝĐŚĂƉƌĞƐĞŶƚĂĐŝſŶ͕ƐĞŐƷŶƐĞĂĞůĐĂƐŽ͕ŚĂŐĂĞŶƚƌĞŐĂĚĞůŽƐƐŝŐƵŝĞŶƚĞƐĂŶƚĞĐĞĚĞŶƚĞƐ͗

ϭ͘

ŽƐ ƐƚĂĚŽƐ &ŝŶĂŶĐŝĞƌŽƐ ĚĞ ůĂ ĞŵƉƌĞƐĂ Ž Ğů ĂůĂŶĐĞdƌŝďƵƚĂƌŝŽĚĞůƷůƚŝŵŽĂŹŽ͘ĞŶŽĐŽŶƚĂƌĐŽŶĐƵĂůƋƵŝĞƌĂĚĞĞůůŽƐ͕ƐĞƌĞƋƵŝĞƌĞŝŶŐƌĞƐĂƌĐƵĂůƋƵŝĞƌ ĚŽĐƵŵĞŶƚĂĐŝſŶƋƵĞĂĐƌĞĚŝƚĞůŽƐŝŶŐƌĞƐŽƐƉĞƌĐŝďŝĚŽƐĚƵƌĂŶƚĞĞůƷůƚŝŵŽĂŹŽĐĂůĞŶĚĂƌŝŽ͘ Ϯ͘ /ĚĞŶƚŝĨŝĐĂƌ ůĂƐ ŵĂƋƵŝŶĂƌŝĂƐ͕ ĞƋƵŝƉŽƐ LJͬŽ ŚĞƌƌĂŵŝĞŶƚĂƐŐĞŶĞƌĂĚŽƌĂƐĚĞƌƵŝĚŽĚĞŶƚƌŽĚĞůĂƵŶŝĚĂĚĨŝƐĐĂůŝnjĂďůĞ͘ƐƉĞĐşĨŝĐĂŵĞŶƚĞŝŶĚŝĐĂƌĞůŶƷŵĞƌŽ (VWHGRFXPHQWRKDVLGRILUPDGRHOHFWUyQLFDPHQWHGHDFXHUGRFRQODOH\1ƒ 3DUDYHULILFDUODLQWHJULGDG\DXWHQWLFLGDGGHHVWHGRFXPHQWRLQJUHVHDOVLJXLHQWHOLQN KWWSVGRFGLJLWDOJREFOYDOLGDGRU.7.

WĄŐŝŶĂϲĚĞϳ

ĚĞ ƉĂƌůĂŶƚĞƐ ƋƵĞ ƵƚŝůŝnjĂ Ğů ƌĞĐŝŶƚŽ͕ ĂĚũƵŶƚĂŶĚŽ ĨŽƚŽŐƌĂĨşĂƐ ĨĞĐŚĂĚĂƐ LJ ŐĞŽƌƌĞĨĞƌĞŶĐŝĂĚĂƐ ĚĞ ůŽƐ ƉĂƌůĂŶƚĞƐLJƐƵƉŽƚĞŶĐŝĂ͕ŝŶĚŝĐĂŶĚŽƐŝĞůĞƐƚĂďůĞĐŝŵŝĞŶƚŽĐƵĞŶƚĂĐŽŶƚĞƌƌĂnjĂLJͬŽƐĞĐƚŽƌĂďŝĞƌƚŽƋƵĞƐĞ ĞŶĐƵĞŶƚƌĞŚĂďŝůŝƚĂĚŽĐŽŶƉĂƌůĂŶƚĞƐŽĞƋƵŝƉŽƐĚĞŵƷƐŝĐĂ͘ ϯ͘ WůĂŶŽ ƐŝŵƉůĞ ƋƵĞ ŝůƵƐƚƌĞ ůĂ ƵďŝĐĂĐŝſŶ ĚĞ ůĂƐ ŵĂƋƵŝŶĂƌŝĂƐ͕ ĞƋƵŝƉŽƐ LJͬŽ ŚĞƌƌĂŵŝĞŶƚĂƐ ŐĞŶĞƌĂĚŽƌĂƐ ĚĞ ƌƵŝĚŽ͘ ƐŝŵŝƐŵŽ͕ ŝŶĚŝĐĂƌ ůĂ ŽƌŝĞŶƚĂĐŝſŶ LJ ƌĞĨĞƌĞŶĐŝĂĐŽŶůŽƐƉƵŶƚŽƐĚĞŵĞĚŝĐŝſŶĚĞƌƵŝĚŽƐŝŶĚŝǀŝĚƵĂůŝnjĂĚŽƐĞŶůĂƐĨŝĐŚĂƐĚĞŵĞĚŝĐŝſŶĚĞƌƵŝĚŽƐ ŝŶĐŽƌƉŽƌĂĚĂƐĞŶĞůŝŶĨŽƌŵĞ&ͲϮϬϮϱͲϮϭϴϲͲy/sͲE͕ĂĚĞŵĄƐĚĞŝŶĚŝĐĂƌůĂƐĚŝŵĞŶƐŝŽŶĞƐĚĞůůƵŐĂƌ͘ ϰ͘ /ŶĚŝĐĂƌĞůŚŽƌĂƌŝŽLJĨƌĞĐƵĞŶĐŝĂĚĞĨƵŶĐŝŽŶĂŵŝĞŶƚŽ ĚĞůƌĞĐŝŶƚŽ͕ŝŶĚŝĐĂŶĚŽĞdžƉƌĞƐĂŵĞŶƚĞĞůŚŽƌĂƌŝŽĚĞŝŶŝĐŝŽLJƚĠƌŵŝŶŽĚĞƐƵĨƵŶĐŝŽŶĂŵŝĞŶƚŽ͕ĂƐşĐŽŵŽůŽƐ ĚşĂƐĚĞůĂƐĞŵĂŶĂĞŶůŽƐƋƵĞĨƵŶĐŝŽŶĂ͘ ϱ͘ /ŶĚŝĐĂƌĞůŚŽƌĂƌŝŽLJĨƌĞĐƵĞŶĐŝĂĚĞĨƵŶĐŝŽŶĂŵŝĞŶƚŽ ĚĞ ůĂƐ ŵĂƋƵŝŶĂƌŝĂƐ͕ ĞƋƵŝƉŽƐ LJͬŽ ŚĞƌƌĂŵŝĞŶƚĂƐ ŐĞŶĞƌĂĚŽƌĂƐ ĚĞ ƌƵŝĚŽ͕ ŝŶĚŝĐĂŶĚŽ ĞdžƉƌĞƐĂŵĞŶƚĞ Ğů ŚŽƌĂƌŝŽĚĞŝŶŝĐŝŽLJƚĠƌŵŝŶŽĚĞƐƵĨƵŶĐŝŽŶĂŵŝĞŶƚŽ͕ĂƐşĐŽŵŽůŽƐĚşĂƐĚĞůĂƐĞŵĂŶĂĞŶůŽƐƋƵĞĨƵŶĐŝŽŶĂ͘ ϲ͘ /ŶĚŝĐĂƌ͕ ĞŶ Ğů ĐĂƐŽ ƋƵĞ ƐĞ ŚĂLJĂŶ ƌĞĂůŝnjĂĚŽ͕ ůĂ ĞũĞĐƵĐŝſŶĚĞŵĞĚŝĚĂƐĐŽƌƌĞĐƚŝǀĂƐϯŽƌŝĞŶƚĂĚĂƐĂůĂƌĞĚƵĐĐŝſŶŽŵŝƚŝŐĂĐŝſŶĚĞůĂĞŵŝƐŝſŶĚĞƌƵŝĚŽƐ͕ ĂĐŽŵƉĂŹĂŶĚŽ ůŽƐ ŵĞĚŝŽƐ ĚĞ ǀĞƌŝĨŝĐĂĐŝſŶ ĂĚĞĐƵĂĚŽƐ ƉĂƌĂ ĐŽƌƌŽďŽƌĂƌ ƉŽƌ ƉĂƌƚĞ ĚĞ ĞƐƚĂ ^ƵƉĞƌŝŶƚĞŶĚĞŶĐŝĂƐƵĐŽƌƌĞĐƚĂŝŵƉůĞŵĞŶƚĂĐŝſŶLJĞĨŝĐĂĐŝĂ͘ ϳ͘ &KZD z DKK  EdZ' 

 /E&KZD/ME ZYhZ/͘ ŽŶĨŽƌŵĞ Ă ůŽ ĞƐƚĂďůĞĐŝĚŽ ĞŶ ůĂ ZĞƐ͘ dž͘ ^D EΣ ϭϬϮϲͬϮϬϮϱ͕ ůĂ ŝŶĨŽƌŵĂĐŝſŶĚĞďĞƌĄƐĞƌƌĞŵŝƚŝĚĂĂĞƐƚĂ^ƵƉĞƌŝŶƚĞŶĚĞŶĐŝĂƉŽƌĂůŐƵŶĂĚĞůĂƐƐŝŐƵŝĞŶƚĞƐǀşĂƐ͗ ϭ͘ ĞĨŽƌŵĂƉƌĞƐĞŶĐŝĂů͕ĞŶKĨŝĐŝŶĂĚĞWĂƌƚĞƐĚĞůĂ ^ƵƉĞƌŝŶƚĞŶĚĞŶĐŝĂĚĞůDĞĚŝŽŵďŝĞŶƚĞLJKĨŝĐŝŶĂƐZĞŐŝŽŶĂůĞƐƌĞƐƉĞĐƚŝǀĂƐ͕ĚĞůƵŶĞƐĂǀŝĞƌŶĞƐĞŶƚƌĞůĂƐ ϵ͗ϬϬLJůĂƐϭϯ͗ϬϬŚŽƌĂƐ͖Ž Ϯ͘ Ğ ĨŽƌŵĂ ƌĞŵŽƚĂ͕ ƉŽƌ ŵĞĚŝŽ ĚĞ ĐŽƌƌĞŽ ĞůĞĐƚƌſŶŝĐŽĚŝƌŝŐŝĚŽĂůĂĐĂƐŝůůĂŽĨŝĐŝŶĂĚĞƉĂƌƚĞƐΛƐŵĂ͘ŐŽď͘Đů͕ĚƵƌĂŶƚĞůĂƐϮϰŚŽƌĂƐĚĞůĚşĂ͕ƌĞŐŝƐƚƌĂŶĚŽ ĐŽŵŽĨĞĐŚĂLJŚŽƌĂĚĞƌĞĐĞƉĐŝſŶĂƋƵĞůůĂƋƵĞƐƵƐŝƐƚĞŵĂĚĞĐŽƌƌĞŽĞůĞĐƚƌſŶŝĐŽŝŶĚŝƋƵĞ͕ƐŝĞŶĚŽĞůƚŽƉĞ ŚŽƌĂƌŝŽĚĞůĚşĂĞŶĐƵƌƐŽůĂƐϮϯ͗ϱϵŚŽƌĂƐ͘ůĂƌĐŚŝǀŽĂĚũƵŶƚŽĚĞďĞĞŶĐŽŶƚƌĂƌƐĞĞŶĨŽƌŵĂƚŽW&͕LJĚĞďĞƌĄ ƚĞŶĞƌ ƵŶ ƚĂŵĂŹŽ ŵĄdžŝŵŽ ĚĞ Ϯϰ ŵĞŐĂďLJƚĞƐ͘ Ŷ ĂƐƵŶƚŽ͕ ĚĞďĞƌĄ ŝŶĚŝĐĂƌ Ğů ĞdžƉĞĚŝĞŶƚĞ Ž ƌŽů ĚĞů ƉƌŽĐĞĚŝŵŝĞŶƚŽĚĞĨŝƐĐĂůŝnjĂĐŝſŶŽƐĂŶĐŝſŶ͕ŽĞůƚĞŵĂĚĞŝŶƚĞƌĠƐƐŽďƌĞĞůĐƵĂůǀĞƌƐĂ͘ŶĐĂƐŽĚĞĐŽŶƚĂƌ ĐŽŶ ƵŶ ŐƌĂŶ ǀŽůƵŵĞŶ ĚĞ ĂŶƚĞĐĞĚĞŶƚĞƐ͕ ƐĞ ƐŽůŝĐŝƚĂ ŝŶĐŽƌƉŽƌĂƌ ĞŶ ůĂ ƌĞƐƉĞĐƚŝǀĂ ƉƌĞƐĞŶƚĂĐŝſŶ ƵŶ ŚŝƉĞƌǀşŶĐƵůŽƉĂƌĂůĂĚĞƐĐĂƌŐĂĚĞůĂĚŽĐƵŵĞŶƚĂĐŝſŶ͕ƐĞŹĂůĄŶĚŽƐĞĂĚĞŵĄƐĞůŶŽŵďƌĞĐŽŵƉůĞƚŽ͕ƚĞůĠĨŽŶŽ ĚĞĐŽŶƚĂĐƚŽLJĐŽƌƌĞŽĞůĞĐƚƌſŶŝĐŽĚĞůĞŶĐĂƌŐĂĚŽ͘ (VWHGRFXPHQWRKDVLGRILUPDGRHOHFWUyQLFDPHQWHGHDFXHUGRFRQODOH\1ƒ 3DUDYHULILFDUODLQWHJULGDG\DXWHQWLFLGDGGHHVWHGRFXPHQWRLQJUHVHDOVLJXLHQWHOLQN KWWSVGRFGLJLWDOJREFOYDOLGDGRU.7.

WĄŐŝŶĂϳĚĞϳ

/y͘ EKd/&/ZZ^dKZKE^ƉĚŽŵŝĐŝůŝĂĚĂ ĞŶĂůůĞZĂŵſŶ&ƌĞŝƌĞEΣϭϭ͕ĐŽŵƵŶĂĚĞWĂŶŐƵŝƉƵůůŝ͕ƌĞŐŝſŶĚĞ>ŽƐZşŽƐ͘

ƐŝŵŝƐŵŽ͕ŶŽƚŝĨŝĐĂƌƉŽƌĐŽƌƌĞŽĞůĞĐƚƌſŶŝĐŽ͕ŽƉŽƌ ŽƚƌŽĚĞůŽƐŵĞĚŝŽƐƋƵĞĞƐƚĂďůĞĐĞůĂ>ĞLJEΣϭϵ͘ϴϴϬ͕ĂůŽƐŝŶƚĞƌĞƐĂĚŽƐĞŶĞůƉƌĞƐĞŶƚĞƉƌŽĐĞĚŝŵŝĞŶƚŽ͘

ůǀĂƌŽŽƌƚĂWŚŝůůŝƉƐ &ŝƐĐĂů/ŶƐƚƌƵĐƚŽƌĂʹŝǀŝƐŝſŶĚĞ^ĂŶĐŝſŶLJƵŵƉůŝŵŝĞŶƚŽ ^ƵƉĞƌŝŶƚĞŶĚĞŶĐŝĂĚĞůDĞĚŝŽŵďŝĞŶƚĞ

K>ͬDdZ ŽĐƵŵĞŶƚŽƐĂĚũƵŶƚŽƐ͗ Ͳ 'ƵşĂƉĂƌĂůĂƉƌĞƐĞŶƚĂĐŝſŶĚĞƵŶƉƌŽŐƌĂŵĂĚĞĐƵŵƉůŝŵŝĞŶƚŽ͘ Ͳ &ŽƌŵƵůĂƌŝŽĚĞƐŽůŝĐŝƚƵĚĚĞƌĞƵŶŝſŶĚĞĂƐŝƐƚĞŶĐŝĂĂůĐƵŵƉůŝŵŝĞŶƚŽ͘ EŽƚŝĨŝĐĂĐŝſŶ͗ Ͳ ZĞƐƚŽďĂƌ KŶĐĞ ^Ɖ ĂůůĞ ZĂŵſŶ &ƌĞŝƌĞ EΣϭϭ͕ ĐŽŵƵŶĂ ĚĞ WĂŶŐƵŝƉƵůůŝ͕ ZĞŐŝſŶ ĚĞ >ŽƐ ZşŽƐ͘ ŽŶ ĚŽĐƵŵĞŶƚŽƐĂĚũƵŶƚŽƐ͘ Ͳ / ϭϬϰͲy/sͲϮϬϮϰ͖ ϭϬϱͲy/sͲϮϬϮϰ͖ ϭͲy/sͲϮϬϮϱ͖ ϮϴͲy/sͲϮϬϮϱ Ă ůĂƐ ĚŝƌĞĐĐŝŽŶĞƐ ĚĞ ĐŽƌƌĞŽ ĞůĞĐƚƌſŶŝĐŽ ŝŶĚŝĐĂĚĂƐƉĂƌĂƚĂůĞĨĞĐƚŽ͘ ͗͘͘ Ͳ KĨŝĐŝŶĂZĞŐŝŽŶĂů>ŽƐZşŽƐ͕^D͘ ZŽůͲϮϮϲͲϮϬϮϱ (VWHGRFXPHQWRKDVLGRILUPDGRHOHFWUyQLFDPHQWHGHDFXHUGRFRQODOH\1ƒ 3DUDYHULILFDUODLQWHJULGDG\DXWHQWLFLGDGGHHVWHGRFXPHQWRLQJUHVHDOVLJXLHQWHOLQN KWWSVGRFGLJLWDOJREFOYDOLGDGRU.7. )LUPDGRSRU ÈOYDUR,JQDFLR'RUWD3KLOOLSV )LVFDO,QVWUXFWRU )HFKD&/7 6XSHULQWHQGHQFLDGHO0HGLR $PELHQWH