San Clemente City Council
July 18, 2023

EXHIBIT A(ATTACHMENT 1)
18 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
,/^dKZ/WZ
^
Zsd/KE;,WͿ
,WͲϭ͘Ϭϭ ϭϮ D
/hD
WZ/KZ/dz
ĞǀĞůŽƉĂŶĚĐŽŶƐŝĚĞƌĂĚŽƉƚŝŶŐĐƌŝƚĞƌŝĂĂŶĚƉƌŽĐĞĚƵƌĞƐĨŽƌĚĞƐŝŐŶĂƚŝŶŐŚŝƐƚŽƌŝĐĚŝƐƚƌŝĐƚƐĂŶĚƚŚĞŵĂƚŝĐŚŝƐƚŽƌŝĐĚŝƐƚƌŝĐƚƐ͘ŽŶƐŝĚĞƌĞƐƚĂďůŝƐŚŝŶŐĂŚŝƐƚŽƌŝĐĚŝƐƚƌŝĐƚƚŚĂƚϭͿƉƌŽǀŝĚĞŚŝƐƚŽƌŝĐƉƌĞƐĞƌǀĂƚŝŽŶŝŶĐĞŶƚŝǀĞƐ͕ϮͿĞŶĨŽƌĐĞŚŝƐƚŽƌŝĐƉƌĞƐĞƌǀĂƚŝŽŶŵĞĂƐƵƌĞƐŝŶƚŚĞŽŶŝŶŐKƌĚŝŶĂŶĐĞ͕ĂŶĚϯͿŝŶĐůƵĚĞĞůŝŐŝďŝůŝƚLJĐƌŝƚĞƌŝĂĨŽƌƚŚĞĚĞƐŝŐŶĂƚŝŽŶŽĨƉŽƚĞŶƚŝĂůĚŝƐƚƌŝĐƚĐŽŶƚƌŝďƵƚŝŶŐ ƉƌŽƉĞƌƚŝĞƐ
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
^ƚĂƌƚĞĚ tŽƌŬŝƐƵŶĚĞƌǁĂLJŽŶĂ
ŚŝƐƚŽƌŝĐĚŝƐƚƌŝĐƚĨŽƌEŽƌƚŚĞĂĐŚǁŝƚŚŐƌĂŶƚĨƵŶĚŝŶŐ͘ĞƐŝŐŶĂƚŝŽŶŽĨƚŚĞŚŝƐƚŽƌŝĐĚŝƐƚƌŝĐƚŽŶƚŚĞEĂƚŝŽŶĂůZĞŐŝƐƚĞƌŽĨ,ŝƐƚŽƌŝĐWůĂĐĞƐŽĐĐƵƌƌĞĚŝŶ:ĂŶƵĂƌLJϮϬϮϭ͘ >Eh^
;>hͿ
>hͲϭϬ ϭϰ D
/hD
WZ/KZ/dz
ŽŶƐŝĚĞƌĚĞƐŝŐŶŐƵŝĚĞůŝŶĞƐĂŶĚnjŽŶŝŶŐƐƚĂŶĚĂƌĚƐĨŽƌEŽƌƚŚĞĂĐŚƚŚĂƚŝŵƉůĞŵĞŶƚŐŽĂůƐĂŶĚƉŽůŝĐŝĞƐĨŽƌƚŚĞEŽƌƚŚĞĂĐŚͬEŽƌƚŚ ůĂŵŝŶŽZĞĂů&ŽĐƵƐƌĞĂ͘
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ
tŽƌŬƚŽĨŽůůŽǁƵƉĚĂƚĞƐƚŽƚŚĞ>W͘
>Eh^
;>hͿ
>hͲϭϭ͘Ϭϵ ϮϮ D
/hD
WZ/KZ/dz
ĞǀĞůŽƉĂŽǁŶƚŽǁŶ/ŵƉƌŽǀĞŵĞŶƚWůĂŶƚŽŝŵƉƌŽǀĞƐŝĚĞǁĂůŬƋƵĂůŝƚLJĂŶĚĐŽŶƐŝƐƚĞŶĐLJĂŶĚƚŽĞŶĐŽƵƌĂŐĞƚŚĞĐŽŶƐƚƌƵĐƚŝŽŶĂŶĚĞdžƉĂŶƐŝŽŶŽĨƉƵďůŝĐƐƉĂĐĞƐ͕ƐƵĐŚĂƐĐŽƵƌƚLJĂƌĚƐ͕ƉůĂnjĂƐĂŶĚƉĂƐĞŽƐ͘ WƵďůŝĐtŽƌŬƐ EŽƚ
ƐƚĂƌƚĞĚ
ůĂƌŝĨŝĐĂƚŝŽŶ
^ĐŚĞĚƵůŝŶŐͬdŝŵŝŶŐͲdĞŶƚĂƚŝǀĞĨŽƌ&zϮϬϮϰŽƌ&zϮϱ&ƵƚƵƌĞƉƌŽũĞĐƚĂůŽŶŐĞůDĂƌ DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϭ͘Ϭϭ͕DͲϭ͘ϭϭ͕DͲϭ͘ϭϮ͕DͲϭ͘ϭϯ
ϭ D
/hD
WZ/KZ/dz
ĚŽƉƚĂ^ƚƌĞĞƚĞƐŝŐŶDĂŶƵĂůďĂƐĞĚŽŶƚŚĞDŽĚĞůĞƐŝŐŶDĂŶƵĂůŽĨ>ŝǀŝŶŐ^ƚƌĞĞƚƐ͘ WƵďůŝĐtŽƌŬƐ EŽƚ
ƐƚĂƌƚĞĚ
ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ͕&ƵŶĚŝŶŐ
>ŝŵŝƚĂƚŝŽŶƐ

EXHIBIT A(ATTACHMENT 1)
19 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
EdhZ>Z
^KhZ
^;WZͿ
EZͲϮ͘Ϭϳ ϴ D
/hD
WZ/KZ/dz
dŚĞŝƚLJǁŝůůĚĞǀĞůŽƉĂŶĚŝŵƉůĞŵĞŶƚĂƵƚŝůŝƚŝĞƐƵŶĚĞƌŐƌŽƵŶĚŝŶŐƉůĂŶƚŽĂǀŽŝĚƚŚĞĂĚǀĞƌƐĞŝŵƉĂĐƚƐƚŽĂĞƐƚŚĞƚŝĐƌĞƐŽƵƌĐĞƐŽĨƉƵďůŝĐƵƚŝůŝƚŝĞƐĂŶĚƵŶŵĂŶŶĞĚƚĞůĞĐŽŵŵƵŶŝĐĂƚŝŽŶƐĨĂĐŝůŝƚŝĞƐ͕ǁŚĞƌĞĨĞĂƐŝďůĞĂŶĚǁŚĞƌĞĐŽƐƚƐŽĨƐƵĐŚƵŶĚĞƌŐƌŽƵŶĚŝŶŐĚŽŶŽƚƉŽƐĞĞĐŽŶŽŵŝĐŚĂƌĚƐŚŝƉ͘tŚĞƌĞƵŶĚĞƌŐƌŽƵŶĚŝŶŐŝƐĚĞƚĞƌŵŝŶĞĚďLJƚŚĞŝƚLJƚŽŶŽƚďĞƉŚLJƐŝĐĂůůLJƉŽƐƐŝďůĞ͕ƐƵĐŚĨĞĂƚƵƌĞƐƐŚĂůůďĞůŽĐĂƚĞĚĂŶĚĚĞƐŝŐŶĞĚƚŽƌĞĚƵĐĞƚŚĞŝƌǀŝƐŝďŝůŝƚLJĂŶĚŝŶĚĞǀĞůŽƉĞĚĂƌĞĂƐ͕ĐŽŶƐŝƐƚĞŶƚǁŝƚŚƉƌĞǀĂŝůŝŶŐĂƌĐŚŝƚĞĐƚƵƌĂůĐŚĂƌĂĐƚĞƌĂŶĚƐĐĂůĞ͘/ŶďĞĂĐŚĞƐ͕ƉĂƌŬƐĂŶĚŽƉĞŶƐƉĂĐĞƐĂƌĞĂƐ͕ƐƵĐŚĨĂĐŝůŝƚŝĞƐƐŚĂůůďĞĚĞƐŝŐŶĞĚĂŶĚůŽĐĂƚĞĚƚŽďůĞŶĚŝŶǁŝƚŚŶĂƚƵƌĂůĐŽůŽƌƐ͕ƚĞdžƚƵƌĞƐĂŶĚůĂŶĚĨŽƌŵƐ͘ WƵďůŝĐtŽƌŬƐ KŶ,ŽůĚ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ͕&ƵŶĚŝŶŐ >ŝŵŝƚĂƚŝŽŶƐ͘

EXHIBIT A(ATTACHMENT 1)
20 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
EdhZ>Z
^KhZ
^;EZͿ
EZͲϮ͘Ϭϭ ϲ D
/hD
WZ/KZ/dz
ZĞǀŝĞǁƚŚĞŽŶŝŶŐKƌĚŝŶĂŶĐĞ͕,ŝůůƐŝĚĞĞǀĞůŽƉŵĞŶƚKƌĚŝŶĂŶĐĞĂŶĚŽƚŚĞƌŝƚLJƐƚĂŶĚĂƌĚƐĂŶĚĂŵĞŶĚŝĨŶĞĐĞƐƐĂƌLJƚŽĞŶƐƵƌĞƌĞŐƵůĂƚŝŽŶƐĂŶĚŐƵŝĚĞůŝŶĞƐĂĚĞƋƵĂƚĞůLJĂĚĚƌĞƐƐƌŝĚŐĞůŝŶĞƉƌĞƐĞƌǀĂƚŝŽŶ͕ĂĐĐĞƐƐƌŽĂĚƐ͕ĚƌŝǀĞǁĂLJĂŶĚƐŝƚĞĚĞƐŝŐŶ͕ĂŶĚĂƌĐŚŝƚĞĐƚƵƌĂůĂŶĚƐŝŐŶĚĞƐŝŐŶƚŽƉƌŽƚĞĐƚŚŝůůƐŝĚĞƐ͕ĐŽĂƐƚĂůĐĂŶLJŽŶƐĂŶĚďůƵĨĨƐ͕ĂŶĚďĞĂĐŚĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ
tŽƌŬƚŽĨŽůůŽǁƵƉĚĂƚĞƐƚŽƚŚĞ>W͘EŽƚƐƚĂƌƚĞĚĚƵĞƚŽƐĐŚĞĚƵůŝŶŐͬƚŝŵĞĐŽŶƐƚƌĂŝŶƚƐ͕ůŽǁƉƌĞĐĞĚĞŶĐĞŽǀĞƌƉƌŝŽƌŝƚLJƉƌŽũĞĐƚƐ͕ĂŶĚƐƚĂĨĨƌĞƐŽƵƌĐĞůŝŵŝƚĂƚŝŽŶƐ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲ'ŽĂůϵ
ϰϳ D
/hD
WZ/KZ/dz
/ŵƉůĞŵĞŶƚƚŚĞůŝŵĂƚĞĐƚŝŽŶWůĂŶĂŶĚ^ƵƐƚĂŝŶĂďŝůŝƚLJĐƚŝŽŶWůĂŶ͘ hƚŝůŝƚŝĞƐ EŽƚ
ƐƚĂƌƚĞĚ
^ƉĞĐŝĨŝĐĂĐƚŝŽŶƐĐŽŶƐŝĚĞƌĞĚŝŶĂŶŶƵĂůďƵĚŐĞƚƉƌŽĐĞƐƐ͘&ƵŶĚŝŶŐĂŶĚƌĞƐŽƵƌĐĞƐĂƌĞŶĞĞĚĞĚƚŽŝŵƉůĞŵĞŶƚƚŚŝƐƉƌŽŐƌĂŵ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^
;W^&hͿ
EZͲϮ͘Ϭϳ ϰϴ D
/hD
WZ/KZ/dz
hƉĚĂƚĞƉƌŝŽƌŝƚŝĞƐĨŽƌƚŚĞƵŶĚĞƌŐƌŽƵŶĚŝŶŐŽĨŽǀĞƌŚĞĂĚƵƚŝůŝƚLJůŝŶĞƐ͕ŝŶĐůƵĚŝŶŐŝŵƉůĞŵĞŶƚĂƚŝŽŶƉůĂŶĂŶĚĨƵŶĚŝŶŐƐƚƌĂƚĞŐŝĞƐ͘ WƵďůŝĐtŽƌŬƐ KŶ,ŽůĚ ůĂƌŝĨŝĐĂƚŝŽŶ ^ĐŚĞĚƵůŝŶŐͬdŝŵŝŶŐ͕^ƚĂĨĨŝŶŐ ZĞƐŽƵƌĐĞƐͲEĞdžƚŝƚLJŽƵŶĐŝůĂƉƉƌŽǀĞĚƉƌŽũĞĐƚĨŽƌĚŽǁŶƚŽǁŶĂǁĂŝƚŝŶŐ^'Θ ĨƵŶĚŝŶŐ͘
^&
dz;^Ϳ ^Ͳϳ͘Ϭϳ Ϯϭ D
/hD
WZ/KZ/dz
hƉĚĂƚĞƚŚĞŝƚLJ͛ƐĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐƚŽĂĚĚƌĞƐƐĐƌŝŵĞƉƌĞǀĞŶƚŝŽŶĨĞĂƚƵƌĞƐŝŶƚŚĞŽƌŝĞŶƚĂƚŝŽŶĂŶĚĚĞƐŝŐŶŽĨŶĞǁďƵŝůĚŝŶŐƐĂŶĚƉƵďůŝĐĨĂĐŝůŝƚŝĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ
ŽŶƐŝĚĞƌĂĨƚĞƌƵƉĚĂƚĞƐƚŽƚŚĞ>W͕ĂŶĚŽƚŚĞƌŚŝŐŚƉƌŝŽƌŝƚLJŝƚĞŵƐ͘EŽƚƐƚĂƌƚĞĚĚƵĞƚŽůŽǁƉƌĞĐĞĚĞŶĐĞŽǀĞƌƉƌŝŽƌŝƚLJƉƌŽũĞĐƚƐ͕ĂŶĚƐƚĂĨĨƌĞƐŽƵƌĐĞůŝŵŝƚĂƚŝŽŶƐ͘

EXHIBIT A(ATTACHMENT 1)
21 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
^&
dz;^Ϳ ^Ͳϰ͘Ϭϴ ϭϯ D
/hD
WZ/KZ/dz
ĚŽƉƚĂŶĚŵĂŝŶƚĂŝŶĂŝƚLJƉŽůŝĐLJŽĨďĞƐƚŵĂŶĂŐĞŵĞŶƚƉƌĂĐƚŝĐĞƐĨŽƌůŝǀĞĞŶƚĞƌƚĂŝŶŵĞŶƚƵƐĞƐƚŽŵŝƚŝŐĂƚĞŶŽŝƐĞŝŵƉĂĐƚƐŽŶƌĞƐŝĚĞŶƚŝĂůŽƌŽƚŚĞƌƐĞŶƐŝƚŝǀĞƵƐĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
^ƚĂƌƚĞĚ WĞŶĚŝŶŐĨƵůĨŝůůŵĞŶƚŽĨǀĂĐĂŶƚ
ƉŽƐŝƚŝŽŶƐ͘
ŝƚLJĂĚŽƉƚĞĚŝŶƚĞƌŶĂůƐƚĂŶĚĂƌĚƉƌŽĐĞĚƵƌĞĨŽƌĂŵƉůŝĨŝĞĚƐŽƵŶĚĐŽŶƐŝƐƚĞŶƚǁŝƚŚƚŚĞŵƵŶŝĐŝƉĂůĐŽĚĞ͘ZĞŵĂŝŶŝŶŐǁŽƌŬŽŶŚŽůĚĚƵĞƚŽƐƚĂĨĨŝŶŐĐŽŶƐƚƌĂŝŶƚƐ͘ hZE
^/'E
hͲϭ͘ϭϭ ϰ D
/hD
WZ/KZ/dz
ZĞĞdžĂŵŝŶĞƉƵďůŝĐƐƉĂĐĞͬŽƵƚĚŽŽƌĂƌĞĂƌĞƋƵŝƌĞŵĞŶƚƐŝŶƚŚĞŽŶŝŶŐKƌĚŝŶĂŶĐĞĂŶĚƐƉĞĐŝĨŝĐƉůĂŶƐƚŽŝĚĞŶƚŝĨLJŽƉƉŽƌƚƵŶŝƚŝĞƐƚŽĐƌĞĂƚĞŶĞǁƉƵďůŝĐƐƉĂĐĞƐŽƌĞdžƉĂŶĚĞdžŝƐƚŝŶŐŽŶĞƐĂŶĚƚŽƌĞŵŽǀĞďĂƌƌŝĞƌƐƚŽƚŚĞŝƌŝŵƉůĞŵĞŶƚĂƚŝŽŶ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ
tŽƌŬƚŽĨŽůůŽǁƵƉĚĂƚĞƐƚŽƚŚĞ>W͘
hZE
^/'E;hͿ
>hͲϭϭ͘Ϭϯ ϳ D
/hD
WZ/KZ/dz
ZĞǀŝĞǁĂŶĚǁŚĞƌĞĂƉƉƌŽƉƌŝĂƚĞ͕ĂŵĞŶĚnjŽŶŝŶŐƐƚĂŶĚĂƌĚƐĂŶĚĚĞƐŝŐŶŐƵŝĚĞůŝŶĞƐƚŽĂůůŽǁĂĚĚĞĚĨůĞdžŝďŝůŝƚLJŝŶůĂŶĚƵƐĞƐŝŶƚŚĞŽǁŶƚŽǁŶͬdͲŽŶĞ&ŽĐƵƐƌĞĂƚŽƌĞƐƉŽŶĚƚŽĐŚĂŶŐŝŶŐĞĐŽŶŽŵŝĐŵĂƌŬĞƚĨŽƌĐĞƐŽǀĞƌƚŝŵĞ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
^ƚĂƌƚĞĚďƵƚŝŶĂĐƚŝǀĞ
KŶͲŚŽůĚƐŝŶĐĞϮϬϭϱƉĞŶĚŝŶŐƵƉĚĂƚĞƐƚŽŝƚLJĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐǁŚĞŶĚĞƐŝŐŶƉƌŝŶĐŝƉůĞƐĨŽƌƐƚĂŶĚͲĂůŽŶĞƌĞƐŝĚĞŶƚŝĂůƵƐĞƐŝŶƚŚĞƐĞĂƌĞĂƐǁŝůůďĞĐŽŶƐŝĚĞƌĞĚ͘

EXHIBIT A(ATTACHMENT 1)
22 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
hZE
^/'E;hͿ
hͲϱ͘ϭϯ ϭϳ D
/hD
WZ/KZ/dz
hƉĚĂƚĞŽŶŝŶŐKƌĚŝŶĂŶĐĞƚŽĂǀŽŝĚƉĞŶĂůŝnjŝŶŐĐŽŵŵĞƌĐŝĂůĚĞǀĞůŽƉŵĞŶƚƐƚŚĂƚŝŶĐůƵĚĞĞdžƚĞƌŝŽƌƉĂƚŝŽƐ͕ƉĂƐĞŽƐĂŶĚŽƚŚĞƌƐŝŵŝůĂƌŽƵƚĚŽŽƌƵƐĞĂƌĞĂƐďLJĂůůŽǁŝŶŐƵƐĂďůĞŽƵƚĚŽŽƌƐƉĂĐĞƐƚŽŵĞĞƚŵŝŶŝŵƵŵ&ůŽŽƌƌĞĂZĂƚŝŽƌĞƋƵŝƌĞŵĞŶƚƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ
tŽƌŬƚŽĨŽůůŽǁƵƉĚĂƚĞƐƚŽƚŚĞ>W͘
hZE
^/'E;hͿ
hͲϮ͘Ϭϱ͕hͲϲ͘Ϭϲ
Ϯϰ D
/hD
WZ/KZ/dz
hƉĚĂƚĞƚŚĞDĂƐƚĞƌ>ĂŶĚƐĐĂƉĞWůĂŶĨŽƌ^ĐĞŶŝĐŽƌƌŝĚŽƌƐĨŽƌĐŽŶƐŝƐƚĞŶĐLJǁŝƚŚƚŚĞ'ĞŶĞƌĂůWůĂŶ͕>ŽĐĂůŽĂƐƚĂůWƌŽŐƌĂŵ͕ĂŶĚ^ƚĂƚĞƌĞŐƵůĂƚŝŽŶƐ͘dŚĞƵƉĚĂƚĞǁŝůůƌĞĐŽŶƐŝĚĞƌƚŚĞƚƌĞĞƉĂůĞƚƚĞ͕ƐŝnjĞ͕ƐƉĂĐŝŶŐ͕ĂŶĚŝƌƌŝŐĂƚŝŽŶŐƵŝĚĞůŝŶĞƐĨŽƌƐƚƌĞĞƚƐ͕ŶĞŝŐŚďŽƌŚŽŽĚƐ͕ĂŶĚĚŝƐƚƌŝĐƚƐ͕ďĂƐĞĚŽŶƐĞǀĞƌĂůĨĂĐƚŽƌƐƐƵĐŚĂƐǁĂƚĞƌƵƐĞ͕ĚĞƐŝƌĞĚǀŝƐƵĂůĐŚĂƌĂĐƚĞƌ͕ƉůĂŶƚĐŽǀĞƌĂŐĞ͕ƚŽƉŽŐƌĂƉŚLJ͕ƉƵďůŝĐǀŝĞǁĐŽƌƌŝĚŽƌƐ͕ĂŶĚƚŚĞdƌĞĞKƌĚŝŶĂŶĐĞ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ
tŽƌŬŵĂLJďĞƉƵƌƐƵĞĚŝŶĐŽŶũƵŶĐƚŝŽŶǁŝƚŚƵƉĚĂƚĞƐƚŽƚŚĞ>W͘ hZE
^/'E;hͿ
hͲϰ͘Ϭϰ ϵ D
/hD
WZ/KZ/dz
tŽƌŬǁŝƚŚŶĞŝŐŚďŽƌŚŽŽĚǀŽůƵŶƚĞĞƌƐƚŽĞƐƚĂďůŝƐŚĂĞƌŽdƌĂƐŚĐŚĂƉƚĞƌ͕ŽƌƐŝŵŝůĂƌŽƌŐĂŶŝnjĂƚŝŽŶĚĞǀŽƚĞĚƚŽŬĞĞƉŝŶŐ^ĂŶůĞŵĞŶƚĞůŝƚƚĞƌĨƌĞĞ͘΀>ŝŶŬƚŽĞƌŽdƌĂƐŚ͘ŽƌŐ΁ hƚŝůŝƚŝĞƐ EŽƚ
ƐƚĂƌƚĞĚ

EXHIBIT A(ATTACHMENT 1)
23 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
hZE
^/'E;hͿ
hͲϱ͘Ϭϱ ϭϯ D
/hD
WZ/KZ/dz
hƉĚĂƚĞƚŚĞĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐƚŽĐůĂƌŝĨLJĞŶĐŽƵƌĂŐĞĚĚĞƐŝŐŶƉƌŝŶĐŝƉůĞƐĨŽƌ^ƉĂŶŝƐŚŽůŽŶŝĂůZĞǀŝǀĂů͕ŝŶĐůƵĚŝŶŐƚŚĞŝŶĐŽƌƉŽƌĂƚŝŽŶŽĨƚŚĞ,ĞŶƌLJ>ĞŶŶLJĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ
tŽƌŬƉĞŶĚŝŶŐŽŶƵƉĚĂƚĞƚŽŝƚLJͲǁŝĚĞŐƵŝĚĞůŝŶĞƐ͘,ŽǁĞǀĞƌ͕ĐƵƌƌĞŶƚĞĨĨŽƌƚƐƵŶĚĞƌǁĂLJƚŽĐƌĞĂƚĞŽďũĞĐƚŝǀĞĚĞƐŝŐŶƐƚĂŶĚĂƌĚƐŝŶƚŚĞnjŽŶŝŶŐĐŽĚĞǁŚŝĐŚǁŝůůĨĂĐŝůŝƚĂƚĞƚŚŝƐĞĨĨŽƌƚ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϲ͘Ϭϭ ϰϭ >Kt
WZ/KZ/dz
ŽŶƐŝĚĞƌĂŵĞŶĚŝŶŐƚŚĞŽŶŝŶŐKƌĚŝŶĂŶĐĞƚŽĂůůŽǁŬĞĞƉŝŶŐĐŚŝĐŬĞŶƐŝŶůŽǁͲĚĞŶƐŝƚLJƌĞƐŝĚĞŶƚŝĂůnjŽŶĞƐĨŽƌŚŽŵĞͲďĂƐĞĚĞŐŐƉƌŽĚƵĐƚŝŽŶĂŶĚŶŽŶͲĐŚĞŵŝĐĂůƉĞƐƚĐŽŶƚƌŽů͘ŝƚLJǁŝůůĞƐƚĂďůŝƐŚŐƵŝĚĞůŝŶĞƐĂŶĚƐƉĞĐŝĨŝĐnjŽŶŝŶŐƐƚĂŶĚĂƌĚƐĨŽƌƉŽƵůƚƌLJƌĂŝƐŝŶŐŝŶůŽǁͲĚĞŶƐŝƚLJƌĞƐŝĚĞŶƚŝĂůnjŽŶĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ
EŽƚƐƚĂƌƚĞĚĚƵĞƚŽůŽǁƉƌĞĐĞĚĞŶĐĞŽǀĞƌƉƌŝŽƌŝƚLJƉƌŽũĞĐƚƐ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
Ϯ >Kt
WZ/KZ/dz
tŽƌŬǁŝƚŚĐŽŵŵƵŶŝƚLJŐƌŽƵƉƐƚŽŚĞůƉƉƌŽŵŽƚĞĂŶĚĞƐƚĂďůŝƐŚƉƌŽũĞĐƚƐƚŚĂƚŚĞůƉĐĞůĞďƌĂƚĞƚŚĞŝƚLJ͛ƐƐƵƌĨŚĞƌŝƚĂŐĞ͘ WZ ^ƚĂƌƚĞĚ /ŶŝƚŝĂƚĞĚĐŽŶǀĞƌƐĂƚŝŽŶƐǁŝƚŚ
h^^ƵƌĨŝŶŐƚŽĞƐƚĂďůŝƐŚ^ĂŶůĞŵĞŶƚĞĂƐƚŚĞŚŽŵĞŽĨh^^ƵƌĨŝŶŐŽƌŐĂŶŝnjĂƚŝŽŶ͕ŝŶĐůƵĚŝŶŐƉƵďůŝĐĂƌƚĂŶĚĨƵƚƵƌĞĞǀĞŶƚƐ͘ ,/^dKZ/WZ
^
Zsd/KE;,WͿ
Ϯϴ >Kt
WZ/KZ/dz
ĞǀĞůŽƉĂĚŝŐŝƚĂůǁĂLJĨŝŶĚŝŶŐƉƌŽŐƌĂŵ͕ŝŶĐůƵĚŝŶŐĞůĞĐƚƌŽŶŝĐŽƌǁĞďͲďĂƐĞĚŝŶƚĞƌƉƌĞƚŝǀĞŝŶĨŽƌŵĂƚŝŽŶ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ
ĂƐĞĚŽŶƌĞƐŽƵƌĐĞƐ͕ĨŽůůŽǁŝŶŐƵƉĚĂƚĞƐƚŽƚŚĞ>W͕ĂŶŝŶƚĞƌĂĐƚŝǀĞǁĞďͲŵĂƉǁŝůůďĞƉƵƌƐƵĞĚĨŽƌǁĂLJĨŝŶĚŝŶŐ͘

EXHIBIT A(ATTACHMENT 1)
24 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
,/^dKZ/WZ
^
Zsd/KE;,WͿ
,WͲϭ͘Ϭϰ Ϯϰ >Kt
WZ/KZ/dz
,ĞůƉĞƐƚĂďůŝƐŚŚŝƐƚŽƌŝĐĂƌĐŚŝǀĞƐĂŶĚͬŽƌůŝďƌĂƌLJƚŽƉƌŽƚĞĐƚ͕ŽƌŐĂŶŝnjĞ͕ƉƌĞƐĞƌǀĞĂŶĚŵĂŬĞĂĐĐĞƐƐŝďůĞƚŚĞŝƚLJ͛ƐǁƌŝƚƚĞŶĂŶĚŐƌĂƉŚŝĐĂƌĐŚŝǀĂůƌĞĐŽƌĚƐ͘ ŝƚLJDĂŶĂŐĞƌ /ŶƉƌŽĐĞƐƐ KŶͲŐŽŝŶŐĚŝƐĐƵƐƐŝŽŶǁŝƚŚƚŚĞ
,ŝƐƚŽƌŝĐ^ŽĐŝĞƚLJƚŽĞƐƚĂďůŝƐŚƉƵďůŝĐĂƌĐŚŝǀĂůůŽĐĂƚŝŽŶ͘ >Eh^
;>hͿ
>hͲϲ͘ϬϮ ϭϯ >Kt
WZ/KZ/dz
ŽŶƐŝĚĞƌĐŚĂŶŐĞƐƚŽƚŚĞŽŶŝŶŐKƌĚŝŶĂŶĐĞŽƌŝŶĐĞŶƚŝǀĞƐƚŚĂƚƉƌĞƐĞƌǀĞ͞ĞdžƉĞƌŝĞŶƚŝĂůƌĞƚĂŝůƵƐĞƐ͟ŝŶŬĞLJƐŚŽƉƉŝŶŐĂƌĞĂƐĂůŽŶŐǀĞŶŝĚĂĞůDĂƌĂŶĚ ůĂŵŝŶŽZĞĂů͕ĨƌŽŵƚŚĞŽǁŶƚŽǁŶͬdͲnjŽŶĞƚŽEŽƌƚŚĞĂĐŚ͘&ƵƚƵƌĞĐŚĂŶŐĞƐŝŶƵƐĞŵƵƐƚďĞƐĞŶƐŝƚŝǀĞƚŽĂĚũĂĐĞŶƚƌĞƐŝĚĞŶƚŝĂůƵƐĞƐ͘΀ džƉĞƌŝĞŶƚŝĂůƌĞƚĂŝůƵƐĞƐĂƌĞƚŚŽƐĞƚŚĂƚĞŶŚĂŶĐĞĐŽŶƐƵŵĞƌŝŶƚĞƌĂĐƚŝŽŶ͕ĚƌŝǀĞƌĞƉĞĂƚǀŝƐŝƚƐĂŶĚƉƵƌĐŚĂƐĞƐ͕ĂŶĚĐƌĞĂƚĞĚŝƐƚŝŶĐƚŝŽŶ͘dŚŝƐĞdžƉĞƌŝĞŶĐĞĐĂŶŽŶůLJďĞĂĐŚŝĞǀĞĚŝŶ͞ďƌŝĐŬĂŶĚŵŽƌƚĂƌ͟ƌĞƚĂŝůĞƐƚĂďůŝƐŚŵĞŶƚƐͶŶŽƚŽŶůŝŶĞ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ
tŽƌŬƚŽĨŽůůŽǁƵƉĚĂƚĞƐƚŽƚŚĞ>W͘/DŽŶͲŚŽůĚĚƵĞƚŽůŽǁͲƉƌŝŽƌŝƚLJ͘ >Eh^
;>hͿ
>hͲϭ͘ϬϮ ϰ >Kt
WZ/KZ/dz

ǀĂůƵĂƚĞƚŚĞůŽĐĂƚŝŽŶƐŽĨĨĂƐƚĨŽŽĚŽƵƚůĞƚƐĂŶĚĚƌŝǀĞͲƚŚƌŽƵŐŚƌĞƐƚĂƵƌĂŶƚƐĂŶĚǁŚĞƌĞĂƉƉůŝĐĂďůĞ͕ĞƐƚĂďůŝƐŚnjŽŶŝŶŐƐƚĂŶĚĂƌĚƐĨŽƌƚŚĞƐƉĂƚŝĂůĚŝƐƚƌŝďƵƚŝŽŶŽĨƐƵĐŚƵƐĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ
/DŽŶͲŚŽůĚĚƵĞƚŽůŽǁͲƉƌŝŽƌŝƚLJ͘

EXHIBIT A(ATTACHMENT 1)
25 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
>Eh^
;>hͿ
>hͲϲ͘Ϭϱ ϭϭ >Kt
WZ/KZ/dz
tŽƌŬǁŝƚŚh͘^͘WŽƐƚĂů^ĞƌǀŝĐĞƚŽĞdžƉůŽƌĞŽƉƉŽƌƚƵŶŝƚŝĞƐƚŽƌĞĚĞƐŝŐŶƚŚĞƉŽƐƚŽĨĨŝĐĞůŽĐĂƚĞĚŽŶǀĞŶŝĚĂWŝĐŽ͕ŽƌƌĞůŽĐĂƚĞƚŽĂŵŽƌĞĂƉƉƌŽƉƌŝĂƚĞůŽĐĂƚŝŽŶ͕ƚŽƉƌŽǀŝĚĞŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌŝŵƉƌŽǀĞĚĐŝƌĐƵůĂƚŝŽŶĂŶĚŶĞǁĚĞǀĞůŽƉŵĞŶƚŽƉƉŽƌƚƵŶŝƚŝĞƐǁŝƚŚĂŵĂƐƚĞƌƉůĂŶĨŽƌƚŚĞWŝĐŽWůĂnjĂĂƌĞĂ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ
/DŽŶͲŚŽůĚĚƵĞƚŽůŽǁͲƉƌŝŽƌŝƚLJ͘
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϰ͘Ϭϲ ϭϰď >Kt
WZ/KZ/dz
WƌĞƉĂƌĞĐŽŵƉƌĞŚĞŶƐŝǀĞƉĂƌŬŝŶŐĂŶĚĐŝƌĐƵůĂƚŝŽŶƐƚƌĂƚĞŐŝĞƐĨŽƌƚŚĞWŝĞƌŽǁů͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ
dŚŝƐŝƚĞŵŝƐĂŶŝŵƉůĞŵĞŶƚĂƚŝŽŶŵĞĂƐƵƌĞŽĨƚŚĞWŝĞƌŽǁů^ƉĞĐŝĨŝĐWůĂŶ͘tŝƚŚďƵĚŐĞƚĂŶĚŽƵŶĐŝůĚŝƌĞĐƚŝŽŶ͕ƚŚŝƐŝƚĞŵǁŝůůďĞƉƵƌƐƵĞĚĨŽůůŽǁŝŶŐƵƉĚĂƚĞƐƚŽƚŚĞ>WĂŶĚĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐƵƉĚĂƚĞ͘ DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϭ͘Ϭϴ Ϯ >Kt
WZ/KZ/dz
ŽŶĚƵĐƚƌĞŐƵůĂƌƐƵƌǀĞLJƐŽĨŝƚLJƌĞƐŝĚĞŶƚƐƚŽŝĚĞŶƚŝĨLJƉƌĞĨĞƌĞŶĐĞƐĂŶĚďĞŚĂǀŝŽƌĂŶĚƌĞƉŽƌƚŽŶƚŚĞƐƵƌǀĞLJƌĞƐƵůƚƐƚŽƚŚĞŝƚLJŽƵŶĐŝůƚŽďĞŶĐŚŵĂƌŬƚƌĂǀĞůďĞŚĂǀŝŽƌ͘ WƵďůŝĐtŽƌŬƐ EŽƚ
ƐƚĂƌƚĞĚ
ůĂƌŝĨŝĐĂƚŝŽŶ &ƵŶĚŝŶŐ>ŝŵŝƚĂƚŝŽŶƐ͕^ƚĂĨĨ
ZĞƐŽƵƌĐĞƐ

EXHIBIT A(ATTACHMENT 1)
26 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
DK/>/dzEKDW>
d
^dZ

d^;DͿ
ϲ >Kt
WZ/KZ/dz
/ĨŶĞĐĞƐƐĂƌLJƚŽŵŝƚŝŐĂƚĞƉŽƚĞŶƚŝĂůŝŵƉĂĐƚƐ͕ƚŚĞŝƚLJǁŝůůŝŵƉůĞŵĞŶƚŝŵƉƌŽǀĞŵĞŶƚƐŝĚĞŶƚŝĨŝĞĚĂƐŵŝƚŝŐĂƚŝŽŶŵĞĂƐƵƌĞƐŝŶƚŚĞ&ŝŶĂů ŶǀŝƌŽŶŵĞŶƚĂů/ŵƉĂĐƚZĞƉŽƌƚĨŽƌƚŚĞĞŶƚĞŶŶŝĂů'ĞŶĞƌĂůWůĂŶ͘ WƵďůŝĐtŽƌŬƐ ^ƚĂƌƚĞĚ  KŶͲŐŽŝŶŐĂƐŶĞĞĚĞĚ
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϭ͘ϮϮ͕DͲϮ͘ϰϴ͕DͲϮ͘ϰϵ
ϯϰ >Kt
WZ/KZ/dz

ƐƚĂďůŝƐŚĂďŝĐLJĐůĞͲĨƌŝĞŶĚůLJďƵƐŝŶĞƐƐƉƌŽŐƌĂŵƚŽĞŶĐŽƵƌĂŐĞĂŶĚĨĂĐŝůŝƚĂƚĞƵƐĞŽĨĂůƚĞƌŶĂƚŝǀĞŵŽĚĞƐŽĨƚƌĂŶƐƉŽƌƚĂƚŝŽŶďLJĞŵƉůŽLJĞĞƐĂŶĚĐƵƐƚŽŵĞƌƐ͘ WƵďůŝĐtŽƌŬƐ ^ƚĂƌƚĞĚ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ͗
KdŚĂƐĂďŝŬĞǁĞďƐŝƚĞ͗ŚƚƚƉƐ͗ͬͬǁǁǁ͘ŽĐƚĂ͘ŶĞƚͬŝŬĞͲDŽŶƚŚͲϮϬϭϵͬdŚĞǁĞďƐŝƚĞŝŶĐůƵĚĞƐƐĂĨĞƚLJƚŝƉƐĂŶĚĞŵƉůŽLJĞƌƌĞƐŽƵƌĐĞƐ͘ůŝŶŬƚŽƚŚĞKdǁĞďƉĂŐĞŝƐŽŶƚŚĞŝƚLJǁĞďƐŝƚĞ͘ŝƚLJ'/^ŵĂƉƚŽďĞĚĞǀĞůŽƉĞĚďLJ&zϮϬϮϮ͘ DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϭ͘Ϯϭ͕DͲϭ͘ϮϮ͕DͲϮ͘ϯϭ
ϯϳ >Kt
WZ/KZ/dz

ƐƚĂďůŝƐŚŵŽĚĞƐŚŝĨƚͬƐŚĂƌĞŐŽĂůƐ͕ĂŶĚƚƌĂĐŬŵŽĚĞƐŚŝĨƚƚŽƋƵĂŶƚŝĨLJŐƌĞĞŶŚŽƵƐĞŐĂƐƌĞĚƵĐƚŝŽŶƐ͘ WƵďůŝĐtŽƌŬƐ EŽƚ
ƐƚĂƌƚĞĚ
ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ͕&ƵŶĚŝŶŐ
>ŝŵŝƚĂƚŝŽŶƐ
EdhZ>Z
^KhZ
^;WZͿ
EZͲϳ͘ϬϮ ϮϮ >Kt
WZ/KZ/dz

ƐƚĂďůŝƐŚĂƌĞƚƌŽĨŝƚƚŝŶŐƉůĂŶĨŽƌŽƵƚĚŽŽƌůŝŐŚƚŝŶŐĂƚŝƚLJďƵŝůĚŝŶŐƐ͕ƐƚƌĞĞƚƐĂŶĚƉĂƌŬƐ͘ WƵďůŝĐtŽƌŬƐ ^ƚĂƌƚĞĚ KŶͲŐŽŝŶŐ͗
^ŝŵŝůĂƌĨŽƌŝƚLJĨĂĐŝůŝƚŝĞƐĂƐůŝŐŚƚŝŶŐŶĞĞĚƐƚŽďĞƌĞƉůĂĐĞĚ͕ŵŽƌĞĞĨĨŝĐŝĞŶƚ> ůŝŐŚƚŝŶŐŝƐŝŶƐƚĂůůĞĚ͘

EXHIBIT A(ATTACHMENT 1)
27 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
EdhZ>Z
^KhZ
^;EZͿ
EZͲϱ͘Ϭϯ ϭϰ >Kt
WZ/KZ/dz
ŽŶƐŝĚĞƌĂĚŽƉƚŝŶŐĂŶŽƌĚŝŶĂŶĐĞƚŽĞƐƚĂďůŝƐŚĂŶĂŶƚŝͲŝĚůŝŶŐnjŽŶĞ;Ğ͘Ő͘ĐĂƌƐǁĂŝƚŝŶŐƚŽƉŝĐŬƵƉƐƚƵĚĞŶƚƐĂƚƐĐŚŽŽůƐͿ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ
EŽƚƐƚĂƌƚĞĚĚƵĞƚŽůŽǁƉƌĞĐĞĚĞŶĐĞŽǀĞƌƉƌŝŽƌŝƚLJƉƌŽũĞĐƚƐ͕ĂŶĚƐƚĂĨĨƌĞƐŽƵƌĐĞůŝŵŝƚĂƚŝŽŶƐ͘ EdhZ>Z
^KhZ
^;EZͿ
'ŽĂůϲ Ϯϵ >Kt
WZ/KZ/dz
ŽŶƐŝĚĞƌƉŽŝŶƚͲŽĨͲƐĂůĞĞĨĨŝĐŝĞŶĐLJƌĞƚƌŽĨŝƚƌĞƋƵŝƌĞŵĞŶƚƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ
EŽƚƐƚĂƌƚĞĚĚƵĞƚŽůŽǁƉƌĞĐĞĚĞŶĐĞŽǀĞƌƉƌŝŽƌŝƚLJƉƌŽũĞĐƚƐĂŶĚƐƚĂĨĨƌĞƐŽƵƌĐĞůŝŵŝƚĂƚŝŽŶƐ͘ EdhZ>Z
^KhZ
^;EZͿ
EZͲϭ͘Ϭϭ ϯ >Kt
WZ/KZ/dz
ƌĞĂƚĞŵŝŶŝŵĂůĂŶĚĂƉƉƌŽƉƌŝĂƚĞƐŝŐŶĂŐĞĂůŽŶŐƚŚĞŽĂƐƚĂůĞĂĐŚdƌĂŝůĂŶĚŝŶƚŚĞsŝƐƚĂ,ĞƌŵŽƐĂ^ƉŽƌƚƐWĂƌŬĨŽƌĞĚƵĐĂƚŝŽŶĂůŽƵƚƌĞĂĐŚĂďŽƵƚĐƌŝƚŝĐĂůŚĂďŝƚĂƚƐĂŶĚŶĂƚŝǀĞƉůĂŶƚĂŶĚĂŶŝŵĂůƐƉĞĐŝĞƐ͘ WZ EŽƚ
ƐƚĂƌƚĞĚ
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϯ͘Ϭϰ ϭϮ >Kt
WZ/KZ/dz
ŽŶƐŝĚĞƌĞƐƚĂďůŝƐŚŝŶŐĂŶƌƚŝŶWƵďůŝĐWůĂĐĞƐKƌĚŝŶĂŶĐĞ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ
/ŶϮϬϭϴ͕ĐŽŵƉůĞƚĞĚnjŽŶŝŶŐĂŵĞŶĚŵĞŶƚƐƚŚĂƚƐƚƌĞĂŵůŝŶĞĚƌĞǀŝĞǁŽĨŵƵƌĂůƐ͘ŽŶŝŶŐƉƌŽĐĞƐƐĞƐĨŽƌŽƚŚĞƌĨŽƌŵƐŽĨƉƵďůŝĐĂƌƚǁŝůůďĞĐŽŶƐŝĚĞƌĞĚĂĨƚĞƌƵƉĚĂƚĞƐƚŽƚŚĞ>W͕ĂŶĚŽƚŚĞƌŚŝŐŚƉƌŝŽƌŝƚLJŝƚĞŵƐ͘

EXHIBIT A(ATTACHMENT 1)
28 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϯ͘Ϭϯ ϭϯ >Kt
WZ/KZ/dz
tŝƚŚƚŚĞƵƉĚĂƚĞŽĨĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐ͕ĐŽŶƐŝĚĞƌŐƵŝĚĞůŝŶĞƐƚŚĂƚŚŝŐŚůŝŐŚƚĐƵůƚƵƌĂůŽƌŚŝƐƚŽƌŝĐƚŚĞŵĞƐĨŽƌĚŝĨĨĞƌĞŶƚ'ĞŶĞƌĂůWůĂŶ&ŽĐƵƐƌĞĂƐƚŚĂƚƉƌŽǀŝĚĞĐŽŚĞƐŝŽŶŝƚLJͲǁŝĚĞ͕ǁŝƚŚŽƵƚĐŽŵƉƌŽŵŝƐŝŶŐƚŚĞŝƌĚŝƐƚŝŶĐƚŝǀĞŶĞƐƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ
EŽƚƐƚĂƌƚĞĚĚƵĞƚŽůŽǁƉƌĞĐĞĚĞŶĐĞŽǀĞƌƉƌŝŽƌŝƚLJƉƌŽũĞĐƚƐ͕ĂŶĚƐƚĂĨĨƌĞƐŽƵƌĐĞůŝŵŝƚĂƚŝŽŶƐ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϵ͘Ϭϳ͕W^&hͲϵ͘Ϭϴ
ϰϲ >Kt
WZ/KZ/dz
hƉĚĂƚĞŽƵƌĐŽĚĞƐƚŽĞŶĐŽƵƌĂŐĞƚŚĞƉƌŝǀĂƚĞĚĞǀĞůŽƉŵĞŶƚŽĨĂůƚĞƌŶĂƚŝǀĞĞŶĞƌŐLJŝŶĨƌĂƐƚƌƵĐƚƵƌĞǁŚĞƌĞĂƉƉƌŽƉƌŝĂƚĞ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ
EŽƚƐƚĂƌƚĞĚĚƵĞƚŽƐĐŚĞĚƵůŝŶŐͬƚŝŵĞĐŽŶƐƚƌĂŝŶƚƐ͕ůŽǁƉƌĞĐĞĚĞŶĐĞŽǀĞƌƉƌŝŽƌŝƚLJƉƌŽũĞĐƚƐ͕ĂŶĚƐƚĂĨĨƌĞƐŽƵƌĐĞůŝŵŝƚĂƚŝŽŶƐ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^
;W^&hͿ
W^&hͲϵ͘Ϭϵ ϰϯ >Kt
WZ/KZ/dz

džƉůŽƌĞƚŚĞĨĞĂƐŝďŝůŝƚLJŽĨĞƐƚĂďůŝƐŚŝŶŐĂŝƚLJŐƌĂŶƚƉƌŽŐƌĂŵƚŽƉƌŽǀŝĚĞĨƵŶĚŝŶŐƐƵƉƉŽƌƚĨŽƌůŽĐĂůĞŶĞƌŐLJƌĞƚƌŽĨŝƚƚŝŶŐƉƌŽũĞĐƚƐ͘ hƚŝůŝƚŝĞƐ EŽƚ
ƐƚĂƌƚĞĚ
&ƵŶĚŝŶŐĂŶĚƌĞƐŽƵƌĐĞƐĂƌĞŶĞĞĚĞĚĨŽƌhƚŝůŝƚŝĞƐƚŽŝŵƉůĞŵĞŶƚƚŚŝƐƉƌŽŐƌĂŵ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^
;W^&hͿ
W^&hͲϵ͘Ϭϯ ϰϰ >Kt
WZ/KZ/dz
ŽŶƐŝĚĞƌƌĞƋƵŝƌŝŶŐĨƵƚƵƌĞŝƚLJĨĂĐŝůŝƚŝĞƐƚŽŵĞĞƚ>

ĞƌƚŝĨŝĐĂƚŝŽŶƐƚĂŶĚĂƌĚƐŽƌĞƋƵŝǀĂůĞŶƚƐƚĂŶĚĂƌĚƐ͘
hƚŝůŝƚŝĞƐ EŽƚ
ƐƚĂƌƚĞĚ
&ƵŶĚŝŶŐĂŶĚƌĞƐŽƵƌĐĞƐĂƌĞŶĞĞĚĞĚƚŽŝŵƉůĞŵĞŶƚƚŚŝƐƉƌŽŐƌĂŵ͘ hZE
^/'E;hͿ
hͲϮ͘ϬϭƚŽhͲϮ͘ϭϮ
ϱ >Kt
WZ/KZ/dz
/ĚĞŶƚŝĨLJĂŶĚƉƵƌƐƵĞŽƉƉŽƌƚƵŶŝƚŝĞƐƚŽŝŵƉƌŽǀĞŐĂƚĞǁĂLJƐǁŝƚŚƚŚĞĐƌĞĂƚŝŽŶŽĨĂŐĂƚĞǁĂLJƐƉƌŽŐƌĂŵĂŶĚͬŽƌƵƉĚĂƚĞƐƚŽƚŚĞĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ
ĞƐŝŐŶŐƵŝĚĞůŝŶĞƵƉĚĂƚĞƐǁŝůůďĞƉƌŝŽƌŝƚŝnjĞĚĂŶĚƐĐŚĞĚƵůĞĚĂĨƚĞƌƵƉĚĂƚĞƐƚŽƚŚĞ>W͕ďĂƐĞĚŽŶƌĞƐŽƵƌĐĞƐ͘

EXHIBIT A(ATTACHMENT 1)
29 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
hZE
^/'E;hͿ
hͲϱ͘Ϭϱ ϭϭ >Kt
WZ/KZ/dz
ŽŶĚƵĐƚƉƵďůŝĐŵĞĞƚŝŶŐƐŽƌĚĞƐŝŐŶĐŚĂƌƌĞƚƚĞƐ͕ŝŶĐůƵĚŝŶŐĐŽŵŵƵŶŝƚLJƐƚĂŬĞŚŽůĚĞƌƐ͕ƚŽĚŝƐĐƵƐƐǁĂLJƐƚŽŝĚĞŶƚŝĨLJ͕ƉƌŽƚĞĐƚĂŶĚĞŶŚĂŶĐĞŽǁŶƚŽǁŶsŝůůĂŐĞŚĂƌĂĐƚĞƌ͘ĂƐĞĚŽŶŵĞĞƚŝŶŐĨŝŶĚŝŶŐƐ͕ĐŽŶƐŝĚĞƌƵƉĚĂƚŝŶŐĂŶĚƌĞĨŝŶŝŶŐĂŽǁŶƚŽǁŶDŝƐƐŝŽŶ^ƚĂƚĞŵĞŶƚǁŚŝĐŚŶĞǁƉƌŽũĞĐƚƐŵƵƐƚĨŽůůŽǁ͕ĂŶĚĐŽŶƐŝĚĞƌĂĚŽƉƚŝŶŐŶĞǁĚĞǀĞůŽƉŵĞŶƚƌĞŐƵůĂƚŝŽŶƐƐƵĐŚĂƐĨŽƌŵͲďĂƐĞĚĐŽĚĞƐŽƌŽďũĞĐƚŝǀĞĚĞƐŝŐŶƐƚĂŶĚĂƌĚƐƚŽŝŵƉƌŽǀĞƚŚĞĞĨĨĞĐƚŝǀĞŶĞƐƐĂŶĚƉƌĞĚŝĐƚĂďŝůŝƚLJŽĨƚŚĞĚĞƐŝŐŶƌĞǀŝĞǁƉƌŽĐĞƐƐ͕ŝŶĐůƵĚŝŶŐŚŽǁƚŽĂĐĐŽŵŵŽĚĂƚĞĐŽŵŵĞƌĐŝĂůĚĞǀĞůŽƉŵĞŶƚŽŶƐŵĂůůŵŝdžĞĚͲƵƐĞnjŽŶĞĚůŽƚƐ͘dŚŝƐŝŶĐůƵĚĞƐďƵƚŝƐŶŽƚůŝŵŝƚĞĚƚŽƉŽƚĞŶƚŝĂůĨŽƌŵͲďĂƐĞĚƐƚĂŶĚĂƌĚƐĨŽƌǀĞŶŝĚĂĚĞůDĂƌĂŶĚ ůĂŵŝŶŽZĞĂůǁŝƚŚĞŵƉŚĂƐŝƐŽŶƚŚĞĐŽŵŵĞƌĐŝĂůĐŽƌĞŝŶƚŚĞdͲŽŶĞ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ
tŽƌŬƚŽĨŽůůŽǁƵƉĚĂƚĞƐƚŽƚŚĞ>W͘

EXHIBIT A(ATTACHMENT 1)
30 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
hZE
^/'E;hͿ
hͲϭ͘Ϭϵ ϭϰ >Kt
WZ/KZ/dz
WƌĞƉĂƌĞ^ŝŐŶĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐĂŶĚŝŶĐŽƌƉŽƌĂƚĞƚŚĞŵŝŶƚŽƚŚĞĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐ͘WƌĞƉĂƌĂƚŝŽŶŽĨƚŚĞ'ƵŝĚĞůŝŶĞƐǁŝůůŝŶǀŽůǀĞďƵƐŝŶĞƐƐ͕ƐŝŐŶĚĞƐŝŐŶĞƌƐĂŶĚŵĂŶƵĨĂĐƚƵƌĞƌƐŝŶƚŚĞŝƌƉƌĞƉĂƌĂƚŝŽŶĂŶĚƉƌŽǀŝĚĞĨŽůůŽǁͲƵƉĞĚƵĐĂƚŝŽŶ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ
ĞƐŝŐŶŐƵŝĚĞůŝŶĞƵƉĚĂƚĞƐǁŝůůďĞƉƌŝŽƌŝƚŝnjĞĚĂŶĚƐĐŚĞĚƵůĞĚĂĨƚĞƌƵƉĚĂƚĞƐƚŽƚŚĞ>W͕ďĂƐĞĚŽŶƐƚĂĨĨĂŶĚĨƵŶĚŝŶŐƌĞƐŽƵƌĐĞƐ͘ hZE
^/'E;hͿ
hͲϱ͘Ϭϲ ϭϱ >Kt
WZ/KZ/dz
WƌĞƉĂƌĞĂŶĚĂĚŽƉƚĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐĨŽƌ,ŝƐƚŽƌŝĐWƌĞƐĞƌǀĂƚŝŽŶƚŚĂƚĚĞƐĐƌŝďĞĚĞƐŝŐŶŵĞƚŚŽĚƐĂŶĚƐƚĂŶĚĂƌĚƐĨŽƌĚĞǀĞůŽƉŵĞŶƚŽŶŽƌĂĚũĂĐĞŶƚƚŽƐŝƚĞƐǁŝƚŚŚŝƐƚŽƌŝĐƌĞƐŽƵƌĐĞƐ͖ŝŶĐůƵĚŝŶŐďƵŝůĚŝŶŐƐŝŶƚŚĞƌĐŚŝƚĞĐƚƵƌĂůKǀĞƌůĂLJǁŝƚŚĚŝƐƚŝŶĐƚŝǀĞĂƌĐŚŝƚĞĐƚƵƌĞŽƚŚĞƌƚŚĂŶ^ƉĂŶŝƐŚŽůŽŶŝĂůZĞǀŝǀĂů͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ
ĞƐŝŐŶŐƵŝĚĞůŝŶĞƵƉĚĂƚĞƐǁŝůůďĞƉƌŝŽƌŝƚŝnjĞĚĂŶĚƐĐŚĞĚƵůĞĚĂĨƚĞƌƵƉĚĂƚĞƐƚŽƚŚĞ>W͕ďĂƐĞĚŽŶƐƚĂĨĨĂŶĚĨƵŶĚŝŶŐƌĞƐŽƵƌĐĞƐ͘ hZE
^/'E;hͿ
hͲϱ͘Ϭϳ͕hͲϱ͘Ϭϴ
ϭϲ >Kt
WZ/KZ/dz
hƉĚĂƚĞƚŚĞĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐĨŽƌƌĐŚŝƚĞĐƚƵƌĂůKǀĞƌůĂLJĂƌĞĂƐǁŚĞƌĞƉŽůŝĐŝĞƐĂůůŽǁ͞KƚŚĞƌ^ƉĂŶŝƐŚ͟ĂƌĐŚŝƚĞĐƚƵƌĂůƐƚLJůĞƐŝŶĂĚĚŝƚŝŽŶƚŽ^ƉĂŶŝƐŚŽůŽŶŝĂůZĞǀŝǀĂů͕ƐƵĐŚĂƐDŝƐƐŝŽŶ͕DŽŶƚĞƌĞLJ͕/ƚĂůŝĂŶĂƚĞ͕ĂŶĚdƵƐĐĂŶ͖ĂŶĚŝŶĐůƵĚĞĂ͞^ƵƌĨŽŶĞ͟ĂƌĐŚŝƚĞĐƚƵƌĂůƐƚLJůĞŝŶƚŚĞ^ŽƵƚŚ ůĂŵŝŶŽZĞĂůĂƌĞĂĞĂƐƚŽĨ/ŶƚĞƌƐƚĂƚĞϱ͕ƚŽĂůůŽǁĂĚĚŝƚŝŽŶĂůĚĞƐŝŐŶĨůĞdžŝďŝůŝƚLJ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
^ƚĂƌƚĞĚďƵƚŝŶĂĐƚŝǀĞ
/ŶϮϬϭϱ͕ǁŝƚŚWŚĂƐĞϭŽŶŝŶŐƵƉĚĂƚĞƐ͕ŝŶƚĞƌŝŵĚĞƐŝŐŶŐƵŝĚĞůŝŶĞƐǁĞƌĞĂĚŽƉƚĞĚĨŽƌ^͘ ůĂŵŝŶŽZĞĂůDhϯ͘ϮŽŶĞƚŚĂƚĂĚĚƌĞƐƐƉŽůŝĐŝĞƐĨŽƌĐŽĂƐƚĂůǀŝĞǁƉƌĞƐĞƌǀĂƚŝŽŶĨƌŽŵ/ŶƚĞƌƐƚĂƚĞͲϱ͘/ŶŐĞŶĞƌĂů͕ĚĞƐŝŐŶŐƵŝĚĞůŝŶĞƵƉĚĂƚĞƐǁŝůůďĞƉƌŝŽƌŝƚŝnjĞĚĂŶĚƐĐŚĞĚƵůĞĚĂĨƚĞƌƵƉĚĂƚĞƐƚŽƚŚĞ>WďĂƐĞĚŽŶƐƚĂĨĨĂŶĚĨƵŶĚŝŶŐƌĞƐŽƵƌĐĞƐ͘

EXHIBIT A(ATTACHMENT 1)
31 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^

,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϭ͘Ϭϯ͕WZͲϮ͘ϬϮ͕WZͲϮ͘Ϭϯ
ϱ KEͲ'K/E' DŽŶŝƚŽƌ͕ƉůĂŶ͕ĂŶĚŝŵƉůĞŵĞŶƚƌĞĐƌĞĂƚŝŽŶĂů
ƉƌŽŐƌĂŵƐďĂƐĞĚŽŶĚĞŵĂŶĚĂŶĚƌĞƐŽƵƌĐĞƐĂĐĐŽƌĚŝŶŐƚŽƚŚĞĞĂĐŚĞƐ͕WĂƌŬƐ͕ĂŶĚZĞĐƌĞĂƚŝŽŶDĂƐƚĞƌWůĂŶ͘ WZ KŶͲŐŽŝŶŐ &ĂĐŝůŝƚLJ͕ƉƌŽŐƌĂŵ͕ĂŶĚ
ƐƚĂĨĨŝŶŐŶĞĞĚƐĂƌĞĐŽŶƚŝŶƵĂůůLJĞǀĂůƵĂƚĞĚ͘^ƚĂĨĨǁŝůůĐŽŶƚŝŶƵĞƚŽĞǀĂůƵĂƚĞĂŶĚƌĞĚĞƐŝŐŶĂŐŝŶŐƌĞĐƌĞĂƚŝŽŶƉƌŽŐƌĂŵƐƚŽĂůŝŐŶǁŝƚŚŶĞǁĐŽŵŵƵŶŝƚLJŶĞĞĚƐ͕ĂƐĚŝƌĞĐƚĞĚŝŶĞĂĐŚĞƐ͕WĂƌŬƐ͕ĂŶĚZĞĐƌĞĂƚŝŽŶDĂƐƚĞƌWůĂŶ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϮ͘Ϭϵ ϴ KEͲ'K/E'
ƐƚĂďůŝƐŚŽƌŝŵƉƌŽǀĞũŽŝŶƚͲƵƐĞĂŐƌĞĞŵĞŶƚƐ
ƚŽŵĂdžŝŵŝnjĞƉƵďůŝĐƌĞĐƌĞĂƚŝŽŶŽƉƉŽƌƚƵŶŝƚŝĞƐ͘
WZ KŶͲŐŽŝŶŐ tŽƌŬŝŶŐǁŝƚŚh^ƚŽ
ƌĞŶĞǁƚŚĞ&ŽƌƐƚĞƌZĂŶĐŚWĂƌŬͬĞƌŶŝĐĞLJĞƌDŝĚĚůĞ^ĐŚŽŽůũŽŝŶƚͲƵƐĞĂŐƌĞĞŵĞŶƚ͕ĂŶĚĞƐƚĂďůŝƐŚĂũŽŝŶƚƵƐĞĂŐƌĞĞŵĞŶƚĨŽƌŽƚŚĞƌĨĂĐŝůŝƚLJƵƐĂŐĞ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϲ͘ϭϰ ϭϮ KEͲ'K/E' dŚĞŝƚLJǁŝůůĐŽŶƚŝŶƵĞƚŽƐƵƉƉŽƌƚĂĚŽŐ ƉĂƌŬĂŶĚĂĐĐĞƐƐĨŽƌĚŽŐƐŝŶŶĞŝŐŚďŽƌŚŽŽĚƉĂƌŬƐ͘
WZ KŶͲŐŽŝŶŐ ^ƚĂĨĨƉƌŽŵŽƚĞƚŚĞĚŽŐ
ƉĂƌŬĂŶĚĚŽŐƉŽůŝĐŝĞƐ͘WƌŽƉŽƐĞĚƐŝƚĞƐƉĞĐŝĨŝĐƉĂƌŬŵĂƐƚĞƌƉůĂŶƵƉĚĂƚĞƐƌĞĐŽŵŵĞŶĚĂĚĚŝƚŝŽŶĂůĚŽŐĂŵĞŶŝƚŝĞƐ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϲ͘ϬϮ Ϯϲ KEͲ'K/E'
ŶĐŽƵƌĂŐĞƚŚĂƚŚĞĂůƚŚLJĨŽŽĚƐďĞƐĞƌǀĞĚĂƚ
ŝƚLJͲƐƉŽŶƐŽƌĞĚĞǀĞŶƚƐ͕ŵĞĞƚŝŶŐƐ͕ĂŶĚĐŽŵŵƵŶŝƚLJͲǁŝĚĞĨŽƌƵŵƐ͘ WZ KŶͲŐŽŝŶŐ ^ƚĂĨĨĞŶĐŽƵƌĂŐĞƐŽƚŚĞƌ
ĚĞƉĂƌƚŵĞŶƚƐĂŶĚĐŽŵŵƵŶŝƚLJŐƌŽƵƉƐƚŽƐĞƌǀĞŚĞĂůƚŚLJĨŽŽĚ͘

EXHIBIT B(ATTACHMENT 1)
32 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^

,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϳ͘Ϭϭ͕WZͲϳ͘Ϭϱ
Ϯϴ KEͲ'K/E' WƵƌƐƵĞĨƵŶĚŝŶŐƐƵĐŚĂƐƉƌŝǀĂƚĞ
ĐŽŶƚƌŝďƵƚŝŽŶƐ͕ŐƌĂŶƚƐ͕ĂŶĚƉƵďůŝĐͲƉƌŝǀĂƚĞƉĂƌƚŶĞƌƐŚŝƉƐƉƌŽǀŝĚĞ͕ŝŵƉƌŽǀĞŽƌŵĂŝŶƚĂŝŶ ƌĞĐƌĞĂƚŝŽŶĂůĨĂĐŝůŝƚŝĞƐƚŚĂƚƉƌŽŵŽƚĞŚĞĂůƚŚĂŶĚǁĞůůŶĞƐƐ͕͕ĨŽƌĨŝƚŶĞƐƐƐƚĂƚŝŽŶƐ͕ďĞŶĐŚĞƐ͕ďŝŬĞƌĂĐŬƐ͕ĂŶĚƉůĂLJĞƋƵŝƉŵĞŶƚ͕ĂŶĚŽƚŚĞƌŝŵƉƌŽǀĞŵĞŶƚƐ͘ WZ KŶͲŐŽŝŶŐ ^ƚĂĨĨĞŶĐŽƵƌĂŐĞƐƉƌŝǀĂƚĞ
ŽƌŐĂŶŝnjĂƚŝŽŶƐƚŽŝŶĐůƵĚĞƉƵďůŝĐŝŵƉƌŽǀĞŵĞŶƚƐŝŶŶĞǁĚĞǀĞůŽƉŵĞŶƚƐĂŶĚǁŽƌŬƐǁŝƚŚƚŚĞ&ƌŝĞŶĚƐ&ŽƵŶĚĂƚŝŽŶŽŶƚŚĞƉƌŽŵŽƚŝŽŶŽĨŚĞĂůƚŚĂŶĚǁĞůůŶĞƐƐŝŶƵŶĚĞƌƐĞƌǀĞĚĂƌĞĂƐ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϲ͘ϬϮ͕WZͲϲ͘ϭϮ
ϯϰ KEͲ'K/E' ŽŶƚŝŶƵĞĐŽůůĂďŽƌĂƚŝŽŶǁŝƚŚůŽĐĂůŚĞĂůƚŚ
ƉƌŽǀŝĚĞƌƐƚŽƉƌŽǀŝĚĞƉƵďůŝĐŚĞĂůƚŚƉƌŽŐƌĂŵƐĂŶĚƐĞƌǀŝĐĞƐŝŶŝƚLJƉĂƌŬƐǁŝƚŚĂŶĞŵƉŚĂƐŝƐŽŶƚĂƌŐĞƚĂƌĞĂƐ͘ WZ KŶͲŐŽŝŶŐ ^ƚĂĨĨĂĐƚŝǀĞůLJƉĂƌƚŝĐŝƉĂƚĞƐ
ǁŝƚŚEƵWĂŶĚĐŽŶƚŝŶƵĞƐƚŽǁŽƌŬǁŝƚŚƚŚĞK,ĞĂůƚŚĞƉĂƌƚŵĞŶƚŽŶŝŶŝƚŝĂƚŝǀĞƐƚŚĂƚƉƌŽŵŽƚĞǁĞůůŶĞƐƐ͕ŝŶĐůƵĚŝŶŐƚŚĞ&ƵŶŽŶƚŚĞZƵŶDŽďŝůĞZĞĐƌĞĂƚŝŽŶWƌŽŐƌĂŵĂŶĚ'ŽĂůŽŶĞ^ƉŽƌƚƐ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϲ͘ϭϭ ϯϱ KEͲ'K/E' ^ƚĂĨĨƐŚĂůůĐŽŶƚŝŶƵĞƉĂƌƚŝĐŝƉĂƚŝŽŶŝŶŚĞĂůƚŚLJ ůŝǀŝŶŐƉƌŽŐƌĂŵƐƐƉŽŶƐŽƌĞĚďLJĐŽůůĂďŽƌĂƚŝǀĞƉĂƌƚŶĞƌƐĂŶĚĂĐƚŝǀĞLJŽƵƚŚ͘ WZ KŶͲŐŽŝŶŐ ^ƚĂĨĨǁŽƌŬƐǁŝƚŚƐĞǀĞƌĂů
ĐŽůůĂďŽƌĂƚŝǀĞƉĂƌƚŶĞƌƐ͕ŝŶĐůƵĚŝŶŐƚŚĞ'͘Z͘/͘W͘/ŶƚŝĂƚŝǀĞĂŶĚEƵW͖ĂĚĚŝƚŝŽŶĂůůLJƐƚĂĨĨƐƵƉƉŽƌƚĐŽŵŵƵŶŝƚLJĞǀĞŶƚƐŚŽƐƚĞĚďLJŶŽŶͲƉƌŽĨŝƚƐǁŚŝĐŚƉƌŽŵŽƚĞŚĞĂůƚŚĂŶĚǁĞůůŶĞƐƐ͕ŝŶĐůƵĚŝŶŐƚŚĞ,ŝŐŚϱ&Žƌ&ŝƚŶĞƐƐĞǀĞŶƚĂŶĚƚŚĞ^ĂŶůĞŵĞŶƚĞ,ĞĂůƚŚΘtĞůůŶĞƐƐ džƉŽ͘

EXHIBIT B(ATTACHMENT 1)
33 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^

,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϰ͘Ϭϳ ϱϭ KEͲ'K/E' ZĞǀŝĞǁĂŶĚƵƉĚĂƚĞƚŚĞĞĂĐŚĞƐ͕WĂƌŬƐĂŶĚ ZĞĐƌĞĂƚŝŽŶDĂƐƚĞƌWůĂŶŝŶĐůƵĚŝŶŐƐŝƚĞ
ƐƉĞĐŝĨŝĐƉĂƌŬƉůĂŶƐďĂƐĞĚŽŶƚŚĞďƵĚŐĞƚĂŶĚĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚWƌŽŐƌĂŵ͘WĂƌŬƉůĂŶƵƉĚĂƚĞƐĂƌĞƚŽƉƌŽǀŝĚĞĂĚĞƋƵĂƚĞŐƵŝĚĂŶĐĞĨŽƌƚŚĞƉƌŽǀŝƐŝŽŶŽĨƉĂƌŬƐ͕ƚƌĂŝůƐ͕ĂŶĚŽƚŚĞƌƌĞĐƌĞĂƚŝŽŶĂůĨĂĐŝůŝƚŝĞƐ͘ WZ KŶͲŐŽŝŶŐ WZDĂƐƚĞƌWůĂŶǁĂƐ
ĂĚŽƉƚĞĚDĂƌĐŚϮϬϭϴ͘^ŝƚĞƐƉĞĐŝĨŝĐƉĂƌŬŵĂƐƚĞƌƉůĂŶƵƉĚĂƚĞƐĨŽƌZŝĐŚĂƌĚd͘^ƚĞĞĚDĞŵŽƌŝĂůWĂƌŬĂƌĞĞdžƉĞĐƚĞĚƚŽďĞĐŽŵƉůĞƚĞĚďLJƐƉƌŝŶŐϮϬϮϯ͘hƉĚĂƚĞƐĨŽƌŽŶŝƚŽĂŶLJŽŶ͕^ĂŶ'ŽƌŐŽŶŝŽ͕^ĂŶ>ƵŝƐZĞLJ͕ĂŶĚ>ŝŶĚĂ>ĂŶĞWĂƌŬƐĂƌĞĞdžƉĞĐƚĞĚƚŽďĞĐŽŵƉůĞƚĞĚďLJƐƉƌŝŶŐϮϬϮϰ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϳ͘Ϭϰ ϱϮ KEͲ'K/E' /ŶǀĞƐƚŝŐĂƚĞƚŚĞƉŽƐƐŝďŝůŝƚLJŽĨĞƐƚĂďůŝƐŚŝŶŐĂ ǀŽůƵŶƚĞĞƌƐƚĂĨĨŝŶŐƉƌŽŐƌĂŵƚŽĂƐƐŝƐƚǁŝƚŚƌĞĐƌĞĂƚŝŽŶĂůƉƌŽŐƌĂŵƐĂŶĚƌĞĚƵĐĞƐƚĂĨĨŝŶŐĐŽƐƚƐĂƚŝƚLJƉƵďůŝĐƉĂƌŬƐĂŶĚƌĞĐƌĞĂƚŝŽŶĂůĨĂĐŝůŝƚŝĞƐ͘ WZ KŶͲŐŽŝŶŐ ^ƚĂĨĨŝƐƌĞƐĞĂƌĐŚŝŶŐŽƚŚĞƌ
ĂŐĞŶĐŝĞƐΖǀŽůƵŶƚĞĞƌƉƌŽŐƌĂŵƐĂŶĚĐŽŶƚŝŶƵĞƐƚŽǁŽƌŬǁŝƚŚƚŚĞ&ƌŝĞŶĚƐŽĨ^ĂŶůĞŵĞŶƚĞWZ&ŽƵŶĚĂƚŝŽŶŽŶǀŽůƵŶƚĞĞƌŽƉƉŽƌƚƵŶŝƚŝĞƐĂƚĞǀĞŶƚƐ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϮ͘ϭϬ ϭϭ KEͲ'K/E' tŽƌŬǁŝƚŚŽƚŚĞƌƉƵďůŝĐĂŐĞŶĐŝĞƐĂŶĚ ŶŽŶͲƉƌŽĨŝƚŽƌŐĂŶŝnjĂƚŝŽŶƐƚŽŚĞůƉĞŶƐƵƌĞĂůůĐŽŵŵƵŶŝƚLJͲƐĞƌǀŝŶŐĨĂĐŝůŝƚŝĞƐ͕ƐƵĐŚĂƐůŝďƌĂƌŝĞƐ͕ŚĞĂůƚŚĐĞŶƚĞƌƐ͕ǁĞůůŶĞƐƐĐĞŶƚĞƌƐ͕ƌĞĐƌĞĂƚŝŽŶĨĂĐŝůŝƚŝĞƐĂŶĚƉĂƌŬƐĂƌĞƵŶŝǀĞƌƐĂůůLJĂĐĐĞƐƐŝďůĞ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͕ĐŽůůĂďŽƌĂƚŝǀĞ
ĞĨĨŽƌƚďĞƚǁĞĞŶZŝƐŬDĂŶĂŐĞŵĞŶƚΘŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚƵŝůĚŝŶŐ^ĞƌǀŝĐĞƐ͘

EXHIBIT B(ATTACHMENT 1)
34 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^

,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϲ͘Ϭϴ ϯϮ KEͲ'K/E' ŽŶƚŝŶƵĞŝƚLJͲƐƉŽŶƐŽƌĞĚDĂLJŽƌ͛ƐtĂůŬƐ ĂŶĚƐŝŵŝůĂƌĂĐƚŝǀŝƚŝĞƐƚŽĞŶĐŽƵƌĂŐĞƌĞƐŝĚĞŶƚƐ͛ƉĂƌƚŝĐŝƉĂƚŝŽŶŝŶĐŽŵŵƵŶŝƚLJĞǀĞŶƚƐĂŶĚĞŶĐŽƵƌĂŐĞŚĞĂůƚŚLJŶĞŝŐŚďŽƌŚŽŽĚƐ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ ŝƚLJŽƵŶĐŝůĞŶĐŽƵƌĂŐĞĚ
ƉĂƌƚŝĐŝƉĂƚŝŽŶĂƚ&D͛Ɛ,ƵŶŐĞƌtĂůŬ͘dŚĞŝƚLJĨĂĐŝůŝƚĂƚĞĚEĂƚŝŽŶĂůEŝŐŚƚKƵƚ͕ŝŶĐůƵĚŝŶŐŚĞĂůƚŚLJĂĐƚŝǀŝƚŝĞƐĂŶĚŶĞŝŐŚďŽƌŚŽŽĚƐ͘ĞĂĐŚĞƐ͕WĂƌŬƐĂŶĚZĞĐƌĞĂƚŝŽŶŚŽƐƚĞĚƚŚĞŝƌĨŝƌƐƚDŽŶƐƚĞƌĂƐŚϱŬƚŚƌŽƵŐŚĚŽǁŶƚŽǁŶ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
ϯϯ KEͲ'K/E'
ŶƐƵƌĞƚŚĂƚWŽůŝĐĞ^ĞƌǀŝĐĞƐĐŽŶƚŝŶƵĞƐƚŽ
ǁŽƌŬǁŝƚŚŶĞŝŐŚďŽƌŚŽŽĚƐƚŽƉƌŽŵŽƚĞƐĂĨĞƚLJĂŶĚƚŚĞ͞EĞŝŐŚďŽƌŚŽŽĚtĂƚĐŚWƌŽŐƌĂŵ͘͟ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐĞĨĨŽƌƚǁŝƚŚ
K^ĂŶĚŝƚLJDĂŶĂŐĞƌ͘K^ŝƐƚĂƐŬĞĚǁŝƚŚƉƌŽŵŽƚŝŶŐĂŶĚĞdžƉĂŶĚŝŶŐEĞŝŐŚďŽƌŚŽŽĚtĂƚĐŚƉƌŽŐƌĂŵƐ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
ϯϵ KEͲ'K/E' WƌŽŵŽƚĞĂŶĚƐƵƉƉŽƌƚĂŝƚLJ
ŵƉůŽLJĞĞ
tĞůůŶĞƐƐWƌŽŐƌĂŵ͘
ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ ,ZƉƌŽǀŝĚĞƐĂŵŽŶƚŚůLJ
ƉƌŽŐƌĂŵĂŶĚŝŶĐĞŶƚŝǀĞƐĨŽƌƉĂƌƚŝĐŝƉĂƚŝŽŶŝŶĂĚĚŝƚŝŽŶƚŽŚŽƐƚŝŶŐĂŶĂŶŶƵĂůǁĞůůŶĞƐƐĨĂŝƌĂŶĚǁĞůůŶĞƐƐǁĂůŬ͘dŚĞŝƚLJĐŽŵƉůĞƚĞĚĂŶĚŽƉĞŶĞĚĂĨŝƚŶĞƐƐĐĞŶƚĞƌĨŽƌĐŝƚLJĞŵƉůŽLJĞĞƐ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϯ͘Ϭϲ ϭϰď KEͲ'K/E' ŽŶƚŝŶƵĞƚŽĞŶŚĂŶĐĞƚŚĞďĞĂĐŚĞƐĂŶĚ ďĞĂĐŚƐƵƉƉŽƌƚĨĂĐŝůŝƚŝĞƐĂƚƚŚĞEŽƌƚŚĞĂĐŚƚƌĂŝŶƐƚĂƚŝŽŶ͕ƌĞĐŽŐŶŝnjŝŶŐƚŚĞŝƌŝŵƉŽƌƚĂŶĐĞĂƐŝƚLJŐĂƚĞǁĂLJƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘WĂƌƚŽĨƌĞǀŝĞǁ
ƉƌŽĐĞƐƐǁŚĞŶŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌĞŶŚĂŶĐĞŵĞŶƚĂƌŝƐĞ͘

EXHIBIT B(ATTACHMENT 1)
35 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^

,
^͕WZ<^EZ
Z
d/KE;WZͿ
ϮϮ KEͲ'K/E' tŽƌŬǁŝƚŚƚŚĞ^ƚĂƚĞ͕&ĞĚĞƌĂůĂŶĚŽƵŶƚLJ
ĂŐĞŶĐŝĞƐƚŽĂĚǀŽĐĂƚĞƐƚƌŝĐƚĞŶĨŽƌĐĞŵĞŶƚŽĨůĂǁƐĂŐĂŝŶƐƚƚŚĞƐĂůĞŽƌƵƐĞŽĨĂůĐŽŚŽůŝĐďĞǀĞƌĂŐĞƐĂŶĚƚŽďĂĐĐŽƉƌŽĚƵĐƚƐďLJŵŝŶŽƌƐĂŶĚǁŝƚŚŐŽǀĞƌŶŵĞŶƚĂůĂŶĚŶŽŶͲŐŽǀĞƌŶŵĞŶƚĂůĂŐĞŶĐŝĞƐƚŽƐƚĞŵƚŚĞĂǀĂŝůĂďŝůŝƚLJŽĨŝůůĞŐĂůĚƌƵŐƐĂŶĚƚŽƉƌĞǀĞŶƚƐƵďƐƚĂŶĐĞĂďƵƐĞ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘ŽĚĞŽŵƉůŝĂŶĐĞ
ŝǀŝƐŝŽŶ͕K^͕,ƵŵĂŶĨĨĂŝƌƐŽŵŵŝƚƚĞĞ͕^ŽůůĂďŽƌĂƚŝǀĞ͕^,^Wd͕tĞůůŶĞƐƐΘWƌĞǀĞŶƚŝŽŶĞŶƚĞƌΛ^,^͕ĂŶĚ^ŚĞƌŝĨĨ͛ƐƌŝŵĞWƌĞǀĞŶƚŝŽŶhŶŝƚ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
ϯϲ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽƉƌŽŵŽƚĞůŽĐĂůŚĞĂůƚŚƐĞƌǀŝĐĞ
ƉƌŽǀŝĚĞƌƐƉĂƌƚŝĐŝƉĂƚŝŽŶŝŶĐŽŵŵƵŶŝƚLJͲǁŝĚĞŚĞĂůƚŚĨĂŝƌƐĂŶĚƐŝŵŝůĂƌĞǀĞŶƚƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘WΘZĐŽůůĂďŽƌĂƚĞƐ
ǁŝƚŚ,ƵŵĂŶĨĨĂŝƌƐŽŵŵŝƚƚĞĞŽŶĐŽŵŵƵŶŝƚLJĞǀĞŶƚƐƚŚĂƚĞŶĐŽƵƌĂŐĞůŽĐĂůƐĞƌǀŝĐĞƉĂƌƚŝĐŝƉĂƚŝŽŶĂŶĚƚŽƐƵƉƉŽƌƚŚĞĂůƚŚŽƌŐĂŶŝnjĂƚŝŽŶƐƚŚƌŽƵŐŚƐŽĐŝĂůŐƌĂŶƚƐ͕ƐƵĐŚĂƐ'ĨƵŶĚŝŶŐŽĨĂŵŝŶŽ,ĞĂůƚŚĞŶƚĞƌΘDŽďŝůĞsĂŶƐ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϳ͘Ϭϳ ϰϵ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽƌĞƋƵŝƌĞŽƉĞŶƐƉĂĐĞĚĞĚŝĐĂƚŝŽŶ ŽƌĂƉƉƌŽƉƌŝĂƚĞƉĂƌŬŝŶͲůŝĞƵĨĞĞƐĂƐƉĂƌƚŽĨƚŚĞĚĞǀĞůŽƉŵĞŶƚƌĞǀŝĞǁƉƌŽĐĞƐƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘ZĞǀŝĞǁĞĚďLJWƵďůŝĐ
tŽƌŬƐŝŶĚŝƐĐƌĞƚŝŽŶĂƌLJƌĞǀŝĞǁƉƌŽĐĞƐƐƚŚƌŽƵŐŚDd͘

,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϭ͘Ϭϯ ϭ KEͲ'K/E' DŽŶŝƚŽƌďĞĂĐŚĂƚƚĞŶĚĂŶĐĞĂŶĚƚƌĞŶĚƐŝŶ ďĞĂĐŚƵƐĂŐĞ͕ƵƐŝŶŐƚŚĞĚĂƚĂƚŽĚĞǀĞůŽƉƉƌŽũĞĐƚŝŽŶƐĨŽƌĨƵƚƵƌĞůŝĨĞŐƵĂƌĚƚŽǁĞƌĂŶĚƐƚĂĨĨŝŶŐŶĞĞĚƐ͘ WƵďůŝĐ^ĂĨĞƚLJ KŶͲŐŽŝŶŐ ĞĂĐŚĂƚƚĞŶĚĂŶĐĞĂŶĚ
ƚƌĞŶĚƐĨŽƌŝŶĚŝǀŝĚƵĂůďĞĂĐŚƵƐĂŐĞĂƌĞĐŽŶƚŝŶƵĂůůLJĞǀĂůƵĂƚĞĚĂŶĚůŝĨĞŐƵĂƌĚƐƚĂĨĨŝŶŐŝƐĂĚũƵƐƚĞĚĂĐĐŽƌĚŝŶŐůLJ͘ƵƌƌĞŶƚƚƌĞŶĚŚĂƐďĞĞŶĂƉŽƉƵůĂƚŝŽŶƐŚŝĨƚĨƌŽŵƚŚĞŶŽƌƚŚĞŶĚŽƵƌŝƚLJďĞĂĐŚĞƐƚŽǁĂƌĚƐƚŚĞƐŽƵƚŚĚƵĞƚŽĞƌŽĚĞĚďĞĂĐŚĞƐŝŶƚŚĞŶŽƌƚŚ͘

EXHIBIT B(ATTACHMENT 1)
36 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^

,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϭ͘Ϭϭ ϯ KEͲ'K/E' ^ƵƉƉŽƌƚĂŶĚŵĂŝŶƚĂŝŶĂĐƚŝǀĞƉƌŽŐƌĂŵƐƚŽ ĞŶŚĂŶĐĞŽĐĞĂŶƐĂĨĞƚLJƚŚƌŽƵŐŚĐŽŵŵƵŶŝƚLJĞĚƵĐĂƚŝŽŶƉƌŽŐƌĂŵƐƐƵĐŚĂƐ͗^ĐŚŽŽůKƵƚƌĞĂĐŚƉƌŽŐƌĂŵ͖:ƵŶŝŽƌ>ŝĨĞŐƵĂƌĚƐ͖ƐĂĨĞƚLJƉƌĞƐĞŶƚĂƚŝŽŶƐƚŽĐŝǀŝĐŐƌŽƵƉƐ͖ĚŝƐƚƌŝďƵƚŝŽŶŽĨƌŝƉĐƵƌƌĞŶƚĂǁĂƌĞŶĞƐƐŵĂƚĞƌŝĂůƐƚŽŚŽƚĞůƐ͕ƚƌŽůůĞLJƐ͕ĂŶĚDĞƚƌŽͲůŝŶŬĞĂĐŚdƌĂŝŶ͖KĐĞĂŶ^ĂĨĞƚLJWƵďůŝĐ^ĂĨĞƚLJŶŶŽƵŶĐĞŵĞŶƚƐ;W^͛ƐͿŽŶzŽƵdƵďĞ͖ĂŶĚEĞŝŐŚďŽƌŚŽŽĚĞĂĐŚtĂƚĐŚƉƌŽŐƌĂŵƚĞĂĐŚŝŶŐƉƌŽĨŝĐŝĞŶƚƐƵƌĨĞƌƐŚŽǁƚŽƐĂĨĞůLJĂƐƐŝƐƚŽƚŚĞƌƐŝŶƚŚĞŽĐĞĂŶ͘ WƵďůŝĐ^ĂĨĞƚLJ KŶͲŐŽŝŶŐ /ŶϮϬϮϮ͕DĂƌŝŶĞ^ĂĨĞƚLJ
ƉƌĞƐĞŶƚĞĚŽĐĞĂŶƐĂĨĞƚLJƚĂůŬƐƚŽĞŝŐŚƚĞůĞŵĞŶƚĂƌLJƐĐŚŽŽůƐ͕ƌĞĂĐŚŝŶŐĂŶĞƐƚŝŵĂƚĞĚϭ͕ϲϲϬƉĂƌƚŝĐŝƉĂŶƚƐ͖ƚĂƵŐŚƚEĞŝŐŚďŽƌŚŽŽĚĞĂĐŚtĂƚĐŚƚŽϭ͕ϬϬϬƉĂƌƚŝĐŝƉĂŶƚƐ͖ƉƌŽǀŝĚĞĚƌŝƉĐƵƌƌĞŶƚƐĂĨĞƚLJƉŽƐƚĞƌƐĨŽƌĂůůĨŝǀĞŝƚLJƚƌŽůůĞLJƐ͖ĂŶĚĚŝƐƚƌŝďƵƚĞĚƌŝƉĐƵƌƌĞŶƚĂǁĂƌĞŶĞƐƐŵĂƚĞƌŝĂůƐƚŽŚŽƚĞůƐǁŝƚŚŝŶ^ĂŶůĞŵĞŶƚĞ͘dĂƵŐŚƚŽǀĞƌϴϬϬ:ƵŶŝŽƌ>ŝĨĞŐƵĂƌĚƉĂƌƚŝĐŝƉĂŶƚƐŽĐĞĂŶƐĂĨĞƚLJ͖ĂŶĚƉƌŽĚƵĐĞĚĂŶĚƉŽƐƚĞĚƐĞǀĞƌĂůŽŶĞͲŵŝŶƵƚĞW^͛ƐŽŶŽĐĞĂŶƐĂĨĞƚLJŽŶzŽƵdƵďĞĂŶĚƚŚĞŝƚLJǁĞďƐŝƚĞ͘ džƉůŽƌĞŽƚŚĞƌƐŽĐŝĂůŵĞĚŝƵŵƐƚŽƌĞĂĐŚŵŽƌĞĞĂĐŚǀŝƐŝƚŽƌƐĨŽƌŽĐĞĂŶƐĂĨĞƚLJĞĚƵĐĂƚŝŽŶƉƵƌƉŽƐĞƐ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϯ͘Ϭϭ͕WZͲϯ͘ϬϮ͕WZͲϯ͘Ϭϯ
ϭϯ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽŵĂŝŶƚĂŝŶĂŶĚĞŶŚĂŶĐĞƚŚĞ
ŝƚLJ͛ƐďĞĂĐŚĞƐĂŶĚDƵŶŝĐŝƉĂůWŝĞƌĂŶĚƐĞĞŬŽƵƚƐŝĚĞĨƵŶĚŝŶŐƐŽƵƌĐĞƐƚŽŚĞůƉƐƵƉƉŽƌƚƚŚĞƐĞĞĨĨŽƌƚƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ dŚŝƐŝƐĂŶŽŶŐŽŝŶŐĞĨĨŽƌƚǁŝƚŚ
ƌĞŐƵůĂƌŵĂŝŶƚĞŶĂŶĐĞ͘

,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϯ͘Ϭϲ ϭϰĂ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽĞŶŚĂŶĐĞƚŚĞďĞĂĐŚĞƐĂŶĚ ďĞĂĐŚƐƵƉƉŽƌƚĨĂĐŝůŝƚŝĞƐĂƚƚŚĞDƵŶŝĐŝƉĂůWŝĞƌ͕ƌĞĐŽŐŶŝnjŝŶŐƚŚĞŝƌŝŵƉŽƌƚĂŶĐĞĂƐŝƚLJŐĂƚĞǁĂLJƐ͕ĂŶĚEŽƌƚŚĞĂĐŚƚƌĂŝŶƐƚĂƚŝŽŶƐ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶŐŽŝŶŐĞĨĨŽƌƚ͘ŽŵƉůĞƚĞĚ
EŽƌƚŚĞĂĐŚŽƉƉŽƌƚƵŶŝƐƚŝĐƉƌŽũĞĐƚŝŶůĂƚĞϮϬϭϲ͘

EXHIBIT B(ATTACHMENT 1)
37 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^

,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϯ͘ϭϬ͕WZͲϯ͘ϭϬ͕WZͲϯ͘ϭϭ
ϭϱ KEͲ'K/E' ^ĞĞŬƐĂŶĚŶŽƵƌŝƐŚŵĞŶƚĂŶĚƌĞƉůĂĐĞŵĞŶƚ
ĨƵŶĚŝŶŐŽƉƉŽƌƚƵŶŝƚŝĞƐƚŽĞŶƐƵƌĞďĞĂĐŚŐŽĞƌƐŚĂǀĞĂŚŝŐŚƋƵĂůŝƚLJďĞĂĐŚĞdžƉĞƌŝĞŶĐĞĂŶĚƚŽŵĂŝŶƚĂŝŶŽŶŐŽŝŶŐŵŽŶŝƚŽƌŝŶŐĂĐƚŝǀŝƚŝĞƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲ'ŽŝŶŐ͗
ZĞĐĞŝǀĞĚŐƌĂŶƚƐƚŽĐŽŶƚŝŶƵĞƉƵƌƐƵŝŶŐĨĞĚĞƌĂůƐĂŶĚƉƌŽũĞĐƚ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϯ͘ϬϮ ϭϲ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽƉƌŽǀŝĚĞĂŶĚŵĂŝŶƚĂŝŶďĞĂĐŚ ĨŝƌĞƉŝƚƐŝŶĚĞƐŝŐŶĂƚĞĚƉƵďůŝĐďĞĂĐŚůŽĐĂƚŝŽŶƐ͘
WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ

,
^͕WZ<^EZ
Z
d/KE;WZͿ
Ϯϳ KEͲ'K/E' /ŵƉůĞŵĞŶƚƚŚĞŝĐLJĐůĞĂŶĚWĞĚĞƐƚƌŝĂŶ
DĂƐƚĞƌWůĂŶďLJĂůůŽĐĂƚŝŶŐĂƉŽƌƚŝŽŶŽĨƚŚĞĂŶŶƵĂůŝƚLJďƵĚŐĞƚƚŽĐŽŵƉůĞƚĞƐŝĚĞǁĂůŬ ƉƌŽũĞĐƚƐƚŚĂƚŝŶĨŝůůƉƵďůŝĐƐŝĚĞǁĂůŬŐĂƉƐĂŶĚƉƌŽǀŝĚĞĐŽŶŶĞĐƚŝǀŝƚLJ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ KŶͲ'ŽŝŶŐ͗
ĚĚƌĞƐƐŶĞǁƉƌŽũĞĐƚƐĂƐĨĞĂƐŝďůĞ͘
K^d>;Ϳ Ͳϭ͘Ϭϭ͕Ͳ
ϭ͘ϬϮ͕Ͳϭ͘Ϭϯ͕Ͳϭ͘Ϭϰ
ϯ KEͲ'K/E' WƌŽƚĞĐƚƚŚĞƉƵďůŝĐ͛ƐƌŝŐŚƚŽĨĐŽĂƐƚĂůĂĐĐĞƐƐ ǁŚĞƌĞĞƐƚĂďůŝƐŚĞĚƚŚƌŽƵŐŚƉƵďůŝĐŽǁŶĞƌƐŚŝƉ͕ůĞŐŝƐůĂƚŝǀĞĂƵƚŚŽƌŝnjĂƚŝŽŶƉƌĞƐĐƌŝƉƚŝǀĞƌŝŐŚƚƐ͕ĂƐĂĚũƵĚŝĐĂƚĞĚďLJĂĐŽƵƌƚŽĨůĂǁ͘tŚĞƌĞĂƉƉƌŽƉƌŝĂƚĞĂŶĚůĞŐĂůůLJƉĞƌŵŝƐƐŝďůĞ͕ŶĞǁĚĞǀĞůŽƉŵĞŶƚƐŚĂůůďĞĚĞƐŝŐŶĞĚƚŽƉƌŽǀŝĚĞƉƵďůŝĐĂĐĐĞƐƐŽƌďĞƌĞƋƵŝƌĞĚƚŽƉƌŽǀŝĚĞƉƵďůŝĐĂĐĐĞƐƐŽƌŝƌƌĞǀŽĐĂďůĞŽĨĨĞƌƚŽƉƌŽǀŝĚĞƉƵďůŝĐĂĐĐĞƐƐ͕ĂƐĂĐŽŶĚŝƚŝŽŶŽĨĚĞǀĞůŽƉŵĞŶƚ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘DŽŶŝƚŽƌĂŶĚ
ƉƌŽƚĞĐƚĐŽĂƐƚĂůĂĐĐĞƐƐƚŚƌŽƵŐŚĚŝƐĐƌĞƚŝŽŶĂƌLJƉƌŽĐĞƐƐ;ĐŽŶĚŝƚŝŽŶƐŽĨĂƉƉƌŽǀĂůĂŶĚĚĞƐŝŐŶƌĞǀŝĞǁͿĂŶĚƉůĂŶĐŚĞĐŬƐǁŝƚŚŽĂƐƚĂůŽŵŵŝƐƐŝŽŶ͘ K^d>;Ϳ Ͳϭ͘Ϭϰ ϰ KEͲ'K/E' /ĚĞŶƚŝĨLJĂŶĚƌĞƋƵŝƌĞƉƌŽƉĞƌƚLJŽǁŶĞƌƐƚŽ ƌĞŵŽǀĞĂůůŶŽŶͲƉĞƌŵŝƚƚĞĚƐƚƌƵĐƚƵƌĞƐ͕ŝŶĐůƵĚŝŶŐƐŝŐŶƐĂŶĚĨĞŶĐŝŶŐ͕ǁŚŝĐŚŝŶŚŝďŝƚůĞŐĂůƉƵďůŝĐĂĐĐĞƐƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘WĂƌƚŽĨĐŽĚĞ
ĞŶĨŽƌĐĞŵĞŶƚĚƵƚŝĞƐ͕ĂůŽŶŐǁŝƚŚĐŽůůĂďŽƌĂƚŝŽŶǁŝƚŚƚŚĞŽĂƐƚĂůŽŵŵŝƐƐŝŽŶΖƐĞŶĨŽƌĐĞŵĞŶƚĚŝǀŝƐŝŽŶ͘

EXHIBIT B(ATTACHMENT 1)
38 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
K^d>;Ϳ Ͳϭ͘ϭϭ ϲ KEͲ'K/E' hƉĚĂƚĞƚŚĞŝƚLJ͛ƐǁĞďƐŝƚĞƚŽĨĂĐŝůŝƚĂƚĞ ƌĞŐŝŽŶĂůĂĐĐĞƐƐĨƌŽŵ/ŶƚĞƌƐƚĂƚĞϱƚŽĐŽĂƐƚĂůĚĞƐƚŝŶĂƚŝŽŶƐ;Ğ͘Ő͕͘ĞůDĂƌ͕WŝĞƌŽǁů͕EŽƌƚŚĞĂĐŚͿ͕ƉƌŝŵĂƌLJďĞĂĐŚĂĐĐĞƐƐƉŽŝŶƚƐ͕ƉĂƌŬƐ͕ƉƵďůŝĐƉĂƌŬŝŶŐĂƌĞĂƐ͕ƉƌŽŵŝŶĞŶƚŶĂƚƵƌĂůĨĞĂƚƵƌĞƐĂŶĚŝƚLJĞŶƚƌLJƉŽŝŶƚƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘tĞďƐŝƚĞ
ŝŵƉƌŽǀĞŵĞŶƚƐŵĂĚĞĂƐŽƉƉŽƌƚƵŶŝƚŝĞƐĂƌŝƐĞ͘/ŶĨŽƌŵĂƚŝŽŶĂĚĚĞĚƚŽŝƚLJĐŽŵŵƵŶŝƚLJŵĂƉƐ;ŽŶǁĞďƐŝƚĞͿŝŶĐůƵĚŝŶŐďĞĂĐŚĂĐĐĞƐƐĂŶĚĂŵĞŶŝƚŝĞƐ͕ƚƌĂŝůƐ͕ƉĂƌŬƐ͕ĞƚĐ͘ K^d>;Ϳ Ͳϭ͘ϭϰ ϳ KEͲ'K/E' WƌĞƐĞƌǀĞĞdžŝƐƚŝŶŐĂŶĚŝĚĞŶƚŝĨLJ ŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌĂŶĚĞŶĐŽƵƌĂŐĞŶĞǁůŽǁ
ĐŽƐƚŽǀĞƌŶŝŐŚƚĂĐĐŽŵŵŽĚĂƚŝŽŶƐŝŶƚŚĞŽĂƐƚĂůŽŶĞ͘
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘dŚƌŽƵŐŚůŝĂŝƐŽŶ
ƉƌŽŐƌĂŵ͕ƉůĂŶŶŝŶŐƐƚĂĨĨƉƌŽǀŝĚĞƐŐƵŝĚĂŶĐĞƚŽďƵƐŝŶĞƐƐĂŶĚƉƌŽƉĞƌƚLJŽǁŶĞƌƐǁŝƚŚŝŶƚĞƌĞƐƚŝŶĞƐƚĂďůŝƐŚŝŶŐĂĐĐŽŵŵŽĚĂƚŝŽŶƵƐĞƐŝŶĐŽĂƐƚĂůnjŽŶĞ͘ K^d>;Ϳ Ͳϭ͘Ϭϭ͕Ͳ
ϭ͘ϬϮ
ϴ KEͲ'K/E' ĐĐĞƐƐŵĂŶĂŐĞŵĞŶƚƉƌŽŐƌĂŵƐĨŽƌ
ĂƉŝƐƚƌĂŶŽ^ŚŽƌĞƐĂŶĚƚŚĞƉƌŝǀĂƚĞďĞĂĐŚĂƌĞĂŶŽƌƚŚŽĨĂƉŝƐƚƌĂŶŽ^ŚŽƌĞƐ͕>Ă>ĂĚĞƌĂ͕LJƉƌƵƐ^ŚŽƌĞƐ͕LJƉƌƵƐŽǀĞ͕ĂŶĚŽƚƚŽŶ͛ƐWŽŝŶƚƉƌŝǀĂƚĞĐŽŵŵƵŶŝƚŝĞƐƐŚĂůůďĞƉƌĞƉĂƌĞĚǁŚĞŶĚĞǀĞůŽƉŵĞŶƚŝƐƉƌŽƉŽƐĞĚŝŶŽŶĞŽĨƚŚĞƐĞƉƌŝǀĂƚĞĐŽŵŵƵŶŝƚŝĞƐĂŶĚĂƉƌŽƉĞƌƚLJŽǁŶĞƌŝƐƌĞƋƵŝƌĞĚƚŽĚĞĚŝĐĂƚĞƉƵďůŝĐĐŽĂƐƚĂůĂĐĐĞƐƐ͘dŚĞƉƵƌƉŽƐĞŽĨƐƵĐŚƉƌŽŐƌĂŵƐƐŚĂůůďĞƚŽƉƌŽǀŝĚĞŵĂdžŝŵƵŵƉƵďůŝĐĂĐĐĞƐƐĐŽŶƐŝƐƚĞŶƚǁŝƚŚƚŚĞŽĂƐƚĂůĐƚŽĨϭϵϳϲ͘dŚĞĂĐĐĞƐƐŵĂŶĂŐĞŵĞŶƚƉƌŽŐƌĂŵƐƐŚĂůůďĞŝŵƉůĞŵĞŶƚĞĚďLJƚŚĞŝƚLJŽĨ^ĂŶůĞŵĞŶƚĞ͕ŽƚŚĞƌƉƵďůŝĐĂŐĞŶĐŝĞƐŽƌďLJƉƌŝǀĂƚĞŚŽŵĞŽǁŶĞƌĂƐƐŽĐŝĂƚŝŽŶƐƚŚĂƚĂĐĐĞƉƚƚŚĞŽĨĨĞƌƐŽĨĚĞĚŝĐĂƚŝŽŶ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘DŽŶŝƚŽƌĂŶĚ
ƉƌŽƚĞĐƚĐŽĂƐƚĂůĂĐĐĞƐƐƚŚƌŽƵŐŚĚŝƐĐƌĞƚŝŽŶĂƌLJƉƌŽĐĞƐƐ
;ĐŽŶĚŝƚŝŽŶƐŽĨĂƉƉƌŽǀĂůĂŶĚĚĞƐŝŐŶƌĞǀŝĞǁͿ͘
ŶĨŽƌĐĞŵĞŶƚŝŶĐŽůůĂďŽƌĂƚŝŽŶďĞƚǁĞĞŶŝƚLJĐŽĚĞĞŶĨŽƌĐĞŵĞŶƚĂŶĚŵĂŝŶƚĞŶĂŶĐĞƐƚĂĨĨ͕ƚŚĞKƌĂŶŐĞŽƵŶƚLJ^ŚĞƌŝĨĨΖƐĚĞƉĂƌƚŵĞŶƚ͕ĂŶĚƚŚĞĂůŝĨŽƌŶŝĂŽĂƐƚĂůŽŵŵŝƐƐŝŽŶ͘

EXHIBIT B(ATTACHMENT 1)
39 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
K^d>;Ϳ 'ŽĂůϰ ϭϲ KEͲ'K/E' hƉĚĂƚĞŚĂnjĂƌĚŵĂƉƐ;Ğ͘Ő͕͘ƐĞĂůĞǀĞůƌŝƐĞ͕ ĨůŽŽĚnjŽŶĞƐ͕ĞƚĐ͘ͿĂƐŶĞǁŝŶĨŽƌŵĂƚŝŽŶďĞĐŽŵĞƐĂǀĂŝůĂďůĞ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘/ŶĐůƵĚĞĚŝŶ>ŽĐĂů
ŽĂƐƚĂůWƌŽŐƌĂŵ^ĞĂ>ĞǀĞůZŝƐĞsƵůŶĞƌĂďŝůŝƚLJƐƐĞƐƐŵĞŶƚ͘ K^d>;Ϳ Ͳϭ͘Ϭϳ Ϯ KEͲ'K/E' DĂŝŶƚĂŝŶƚŚĞ^ĂŶůĞŵĞŶƚĞĞĂĐŚdƌĂŝůƐĂƐ ƉĂƌƚŽĨƚŚĞĂůŝĨŽƌŶŝĂŽĂƐƚĂůdƌĂŝůƐŝƚŝŶŐĂŶĚĚĞƐŝŐŶƐƚĂŶĚĂƌĚ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲ'ŽŝŶŐ͘
K^d>;Ϳ Ͳϭ͘Ϭϲ͕Ͳ
ϭ͘ϭϭ
ϱ KEͲ'K/E' WĞƌŝŽĚŝĐĂůůLJŝŶǀĞŶƚŽƌLJďĞĂĐŚĂĐĐĞƐƐ
ĨĂĐŝůŝƚŝĞƐƚŽŝĚĞŶƚŝĨLJĂĐĐĞƐƐŶĞĞĚƐ͘ĂƐĞĚŽŶƚŚĞŝŶǀĞŶƚŽƌLJ͕ƉƌĞƉĂƌĞĐĂƉŝƚĂůŝŵƉƌŽǀĞŵĞŶƚƐƉƌŽũĞĐƚƐĂŶĚͬŽƌĞƐƚĂďůŝƐŚƐĐŚĞĚƵůĞĨŽƌƌĞŶŽǀĂƚŝŶŐĂĐĐĞƐƐĨĂĐŝůŝƚŝĞƐ͕ĂŶĚƵƉĚĂƚĞƚŚĞŝƚLJ͛ƐǁĂLJͲĨŝŶĚŝŶŐƉƌŽŐƌĂŵƚŽĨĂĐŝůŝƚĂƚĞƌĞŐŝŽŶĂůĂĐĐĞƐƐĨƌŽŵ/ŶƚĞƌƐƚĂƚĞϱƚŽĐŽĂƐƚĂůĚĞƐƚŝŶĂƚŝŽŶƐ;Ğ͘Ő͕͘ĞůDĂƌ͕WŝĞƌŽǁů͕EŽƌƚŚĞĂĐŚͿ͕ƉƌŝŵĂƌLJďĞĂĐŚĂĐĐĞƐƐƉŽŝŶƚƐ͕ƉĂƌŬƐ͕ƉƵďůŝĐƉĂƌŬŝŶŐĂƌĞĂƐ͕ƉƌŽŵŝŶĞŶƚŶĂƚƵƌĂůĨĞĂƚƵƌĞƐĂŶĚŝƚLJĞŶƚƌLJƉŽŝŶƚƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ KŶͲŐŽŝŶŐ͗
^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ͕&ƵŶĚŝŶŐ>ŝŵŝƚĂƚŝŽŶƐ͘WĂƌƚŽĨŽŶͲŐŽŝŶŐĂƐƐĞƚŝŶƐƉĞĐƚŝŽŶĂŶĚŵĂŝŶƚĞŶĂŶĐĞƉƌŽŐƌĂŵ͘ K^d>;Ϳ Ͳϭ͘Ϭϲ ϭϭ KEͲ'K/E' ^ĞĞŬĨƵŶĚŝŶŐƚŽŵĂŝŶƚĂŝŶĂŶĚŝŵƉƌŽǀĞ ĂĐĐĞƐƐǁĂLJƐ͕ŝŵƉůĞŵĞŶƚĐŽŵƉůĞƚĞƐƚƌĞĞƚƐƉƌŽũĞĐƚƐĂƐŝĚĞŶƚŝĨŝĞĚŝŶƚŚĞDŽďŝůŝƚLJĂŶĚŽŵƉůĞƚĞ^ƚƌĞĞƚƐ ůĞŵĞŶƚ͕ĂŶĚƚŽĞŶŚĂŶĐĞƉƵďůŝĐĐŽĂƐƚĂůĂĐĐĞƐƐ͕ŝŶĐůƵĚŝŶŐ͗Ă͘/ŵƉƌŽǀĞĚƉĞĚĞƐƚƌŝĂŶƌĂŝůƌŽĂĚĐƌŽƐƐŝŶŐƐƚŚƌŽƵŐŚƚŚĞĐŽŶƐƚƌƵĐƚŝŽŶŽĨĂƚͲŐƌĂĚĞ͕ĂďŽǀĞͲŐƌĂĚĞ͕ŽƌďĞůŽǁͲŐƌĂĚĞĐƌŽƐƐŝŶŐƐĂƚĞdžŝƐƚŝŶŐĂĐĐĞƐƐǁĂLJƐ͘ď͘ĚĚŝƚŝŽŶĂůŽĨĨͲƐƚƌĞĞƚƉƵďůŝĐƉĂƌŬŝŶŐƐƉĂĐĞƐĂƚŽƌŶĞĂƌƉƵďůŝĐĐŽĂƐƚĂůĂĐĐĞƐƐǁĂLJƐƚŚƌŽƵŐŚŝŵƉƌŽǀĞŵĞŶƚƐŽĨĞdžŝƐƚŝŶŐďĞĂĐŚƉĂƌŬŝŶŐůŽƚƐĂŶĚĐƌĞĂƚŝŽŶŽĨƉĂƌŬŝŶŐůŽƚƐ͕ǁŚĞƌĞĨĞĂƐŝďůĞ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ

EXHIBIT B(ATTACHMENT 1)
40 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
K^d>;Ϳ Ͳϭ͘Ϭϭ ϭϱ KEͲ'K/E' /ŵƉůĞŵĞŶƚŝƚLJWŽůŝĐŝĞƐĂŶĚWƌŽĐĞĚƵƌĞƐ ;ĞĨĨĞĐƚŝǀĞĚĂƚĞ^ĞƉƚĞŵďĞƌϱ͕ϮϬϬϭͿƌĞŐĂƌĚŝŶŐDĂŶĂŐĞŵĞŶƚŽĨĞĂĐŚ&ĂĐŝůŝƚŝĞƐŝŶƚĞƌŵƐŽĨƚŚĞŝƌŵĂŝŶƚĞŶĂŶĐĞ͕ƌĞƉůĂĐĞŵĞŶƚ͕ƉƌŽƚĞĐƚŝŽŶ͕ŽƌƌĞůŽĐĂƚŝŽŶ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ
K^d>;Ϳͬ^&
dz;^Ϳ
Ͳϰ͘Ϭϰ͕^Ͳϳ͘ϬϮ
ϭϮ KEͲ'K/E' DŽŶŝƚŽƌďĞĂĐŚĞƌŽƐŝŽŶĂŶĚƚŚĞůŝŵŝƚĂƚŝŽŶƐ
ƌĞĚƵĐĞĚďĞĂĐŚǁŝĚƚŚƐǁŝůůŚĂǀĞŽŶĞŵĞƌŐĞŶĐLJƚƌĂŶƐƉŽƌƚĂƚŝŽŶĂĐĐĞƐƐĂŶĚůŝĨĞŐƵĂƌĚƚŽǁĞƌƉůĂĐĞŵĞŶƚ͘ĞǀĞůŽƉĂůƚĞƌŶĂƚŝǀĞůŝĨĞŐƵĂƌĚƚŽǁĞƌĚĞƐŝŐŶƐ͕ĂŶĚŵĞƚŚŽĚƐĨŽƌƐĂĨĞůLJƚƌĂŶƐƉŽƌƚŝŶŐĞƋƵŝƉŵĞŶƚ͕ƉĞƌƐŽŶŶĞů͕ĂŶĚŝŶũƵƌĞĚƉĞƌƐŽŶƐĂƐŶĞĐĞƐƐĂƌLJ͘ WƵďůŝĐ^ĂĨĞƚLJ KŶͲŐŽŝŶŐ ƐďĞĂĐŚǁŝĚƚŚƐŚĂǀĞ
ŶĂƌƌŽǁĞĚǁŝƚŚĞƌŽƐŝŽŶ͕DĂƌŝŶĞ^ĂĨĞƚLJŚĂƐƌĞĚƵĐĞĚƚŚĞŶƵŵďĞƌŽĨĨƵůůͲƐŝnjĞĚ:ĞĞƉƐĨƌŽŵƚŚƌĞĞƚŽƚǁŽĂŶĚŝŶĐƌĞĂƐĞĚƚŚĞŶƵŵďĞƌŽĨƐŵĂůůĞƌds͛Ɛ͕ĂƐǁĞůůĂƐŝŶĐƌĞĂƐŝŶŐƚŚĞƵƐĞŽĨƚŚĞ ŵĞƌŐĞŶĐLJWĞƌƐŽŶĂůtĂƚĞƌĐƌĂĨƚĨŽƌƌĞĂĐŚŝŶŐĞŵĞƌŐĞŶĐŝĞƐǀŝĂƚŚĞǁĂƚĞƌ͘/ŶƚŚĞĨƵƚƵƌĞ͕ŶĞǁůŝĨĞŐƵĂƌĚƚŽǁĞƌĚĞƐŝŐŶƐŽƌƉŽƌƚĂďůĞƚŽǁĞƌƐŵĂLJďĞŶĞĐĞƐƐĂƌLJ͕ƐŵĂůůĞƌǀĞŚŝĐůĞƐƵƐĞĚĂƐǁĞůůĂƐŵŽƌĞŚĂŶĚƚƌĂŶƐƉŽƌƚĂƚŝŽŶŽĨƉĂƚŝĞŶƚƐ͕ĂŶĚĐŽŶƐŝĚĞƌĂƚŝŽŶŽĨƵƐŝŶŐŵŽƌĞŽĨĨƐŚŽƌĞŵŽĚĞƐŽĨƌĞƐƉŽŶƐĞǀŝĂǁĂƚĞƌĐƌĂĨƚŽƌďŽĂƚŵĂLJďĞŶĞĐĞƐƐĂƌLJ͘

EXHIBIT B(ATTACHMENT 1)
41 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
K^d>;Ϳ Ͳϰ͘Ϭϯ͕Ͳ
ϰ͘Ϭϰ͕Ͳϰ͘Ϭϱ͕Ͳϰ͘Ϭϲ
ϭϳ KEͲ'K/E' WƌĞƉĂƌĞĂŶĚŝŵƉůĞŵĞŶƚĂƐŚŽƌĞůŝŶĞ
ŵĂŶĂŐĞŵĞŶƚƐƚƌĂƚĞŐLJǁŚŝĐŚŝŶĐůƵĚĞƐ͕ďƵƚŝƐŶŽƚůŝŵŝƚĞĚƚŽ͕ƚŚĞĨŽůůŽǁŝŶŐ͗ĂͿŶĞdžĂŵŝŶĂƚŝŽŶŽĨůŽĐĂůĂŶĚƌĞŐŝŽŶĂůůŽŶŐͲƚĞƌŵĞƌŽƐŝŽŶƌĂƚĞƐĂŶĚƚƌĞŶĚƐƚŽŝĚĞŶƚŝĨLJĂŶĚƉůĂŶĨŽƌƐŚŽƌĞůŝŶĞĐŚĂŶŐĞƐ͕ďͿŶĞdžĂŵŝŶĂƚŝŽŶŽĨŵĞĂŶƐĞĂůĞǀĞůĞůĞǀĂƚŝŽŶƚƌĞŶĚƐĂŶĚĨƵƚƵƌĞƐĞĂůĞǀĞůƌŝƐĞƉƌŽũĞĐƚŝŽŶƐƚŽŚĞůƉĚĞƚĞƌŵŝŶĞĨƵƚƵƌĞĞƌŽƐŝŽŶƌĂƚĞƐĂŶĚƉůĂŶĨŽƌƉŽƚĞŶƚŝĂůƐŚŽƌĞůŝŶĞĐŚĂŶŐĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘ŝƚLJŝŶƚĞŶĚƐƚŽ
ƉƵƌƐƵĞŐƌĂŶƚĨƵŶĚŝŶŐĨŽƌƐĂŶĚƌĞƉůĞŶŝƐŚŵĞŶƚĂŶĚŽƚŚĞƌƐĞĂůĞǀĞůƌŝƐĞĂĚĂƉƚĂƚŝŽŶƐƚƌĂƚĞŐŝĞƐĐŽŶƐŝƐƚĞŶƚǁŝƚŚƚŚĞ>ŽĐĂůŽĂƐƚĂůWƌŽŐƌĂŵ͘

KEKD/
s
>KWD
Ed;
Ϳ

ͲϮ͘ϬϮ͕Ϯ͘Ϭϰ
ϵ KEͲ'K/E' WĂƌƚŶĞƌǁŝƚŚƌĞŐŝŽŶĂůďƵƐŝŶĞƐƐƐƵƉƉŽƌƚ
ĂŐĞŶĐŝĞƐ͕ƐƵĐŚĂƐƚŚĞKƌĂŶŐĞŽƵŶƚLJtŽƌŬĨŽƌĐĞ/ŶǀĞƐƚŵĞŶƚŽĂƌĚĂŶĚƚŚĞKƌĂŶŐĞŽƵŶƚLJ^ŵĂůůƵƐŝŶĞƐƐĞǀĞůŽƉŵĞŶƚĞŶƚĞƌ͕ƚŽĞŶƐƵƌĞďƵƐŝŶĞƐƐĞƐŝŶ^ĂŶůĞŵĞŶƚĞĂƌĞĂǁĂƌĞŽĨĂŶĚŚĂǀĞĂĐĐĞƐƐƚŽǁŽƌŬĨŽƌĐĞƌĞĐƌƵŝƚŵĞŶƚĂŶĚƚƌĂŝŶŝŶŐƐĞƌǀŝĐĞƐ͕ĂŶĚƚŽĞŶƐƵƌĞƌĞƐŝĚĞŶƚƐĂƌĞĂǁĂƌĞŽĨĂŶĚŚĂǀĞĂĐĐĞƐƐƚŽũŽďƐĞĂƌĐŚĂŶĚďƵƐŝŶĞƐƐƐƚĂƌƚͲƵƉƚƌĂŝŶŝŶŐ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ ^ƚĂĨĨĐŽŽƌĚŝŶĂƚĞĚĂ
ƚƌĂŝŶŝŶŐĂŶĚŐƌĂŶƚƉƌŽŐƌĂŵŝŶ&zϮϯǁŝƚŚƚŚĞ^ƚŽƐƵƉƉŽƌƚůŽĐĂůƐŵĂůůďƵƐŝŶĞƐƐĞƐŝŵƉƌŽǀĞƚŚĞŝƌŽŶůŝŶĞƉƌĞƐĞŶĐĞ͘^ƚĂĨĨŚĂƐĂůƐŽƉĂƌƚŝĐŝƉĂƚĞĚŝŶŵĞĞƚŝŶŐƐǁŝƚŚƚŚĞ^ĂŶůĞŵĞŶƚĞŚĂŵďĞƌŽĨŽŵŵĞƌĐĞƚŽŚŽƐƚĂũŽďĨĂŝƌŝŶĂƐƐŽĐŝĂƚŝŽŶǁŝƚŚKƌĂŶŐĞŽƵŶƚLJtŽƌŬĨŽƌĐĞĞǀĞůŽƉŵĞŶƚĂŶĚĞdžƉůŽƌĞĞdžƉĂŶĚŝŶŐǁŽƌŬĨŽƌĐĞƐĞƌǀŝĐĞƐĂŶĚƉƌŽŐƌĂŵƐůŽĐĂůůLJ͘

EXHIBIT B(ATTACHMENT 1)
42 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^

KEKD/
s
>KWD
Ed;
Ϳ
ηηηη KEͲ'K/E'
džƉůŽƌĞŽƉƉŽƌƚƵŶŝƚŝĞƐƚŽƉĂƌƚŶĞƌǁŝƚŚĂ
ďƵƐŝŶĞƐƐ͞ŝŶĐƵďĂƚŽƌ͟ŝŶ^ĂŶůĞŵĞŶƚĞ͘ƚƚƌĂĐƚŚŝŐŚĞƌĞĚƵĐĂƚŝŽŶĨĂĐŝůŝƚŝĞƐƚŽ^ĂŶůĞŵĞŶƚĞ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ ŝƚLJƐƚĂĨĨŚĂƐĚŝƐĐƵƐƐĞĚ
ƚŚĞƉŽƐƐŝďŝůŝƚLJŽĨƉĂƌƚŶĞƌŝŶŐǁŝƚŚKƌĂŶŐĞŽƵŶƚLJtŽƌŬĨŽƌĐĞĞǀĞůŽƉŵĞŶƚŝŶƉƌŽǀŝĚŝŶŐĂĚĚŝƚŝŽŶĂůƐŵĂůůďƵƐŝŶĞƐƐĂŶĚũŽďͲƐĞĞŬĞƌƌĞƐŽƵƌĐĞƐůŽĐĂůůLJ͘

KEKD/
s
>KWD
Ed;
Ϳ

ͲϮ͘Ϭϯ ϭϮ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽƐƵƉƉŽƌƚĂŶĚƉƌŽŵŽƚĞĂŶ
ĂŶŶƵĂůďƵƐŝŶĞƐƐĂǁĂƌĚƐƉƌŽŐƌĂŵƚŽƌĞĐŽŐŶŝnjĞ^ĂŶůĞŵĞŶƚĞ͛ƐŽƵƚƐƚĂŶĚŝŶŐďƵƐŝŶĞƐƐĐŝƚŝnjĞŶƐ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ dŚĞŝƚLJƐƵƉƉŽƌƚƐƚŚĞ
ŚĂŵďĞƌ͛ƐŶŶƵĂůDĞĞƚŝŶŐŽĨDĞŵďĞƌƐĂŶĚǁĂƌĚƐĞƌĞŵŽŶLJ͘ ͘

KEKD/
s
>KWD
Ed;
Ϳ

Ͳϱ͘Ϭϲ ϭϱ KEͲ'K/E' /ŵƉůĞŵĞŶƚĂŶĚƵƉĚĂƚĞƚŚĞ/ŶĨŽƌŵĂƚŝŽŶ dĞĐŚŶŽůŽŐLJ^ƚƌĂƚĞŐŝĐWůĂŶĂƐŶĞĞĚĞĚƚŽŐƵŝĚĞĐŽŵŵƵŶŝĐĂƚŝŽŶĂŶĚŝŶĨŽƌŵĂƚŝŽŶƚĞĐŚŶŽůŽŐLJĚĞĐŝƐŝŽŶŵĂŬŝŶŐ͕ďƵĚŐĞƚŝŶŐ͕ĂŶĚŝŵƉůĞŵĞŶƚĂƚŝŽŶĂĐƌŽƐƐĂůůŝƚLJĨƵŶĐƚŝŽŶƐĂŶĚŽƉĞƌĂƚŝŽŶƐ͘dŚĞƵƉĚĂƚĞƐĂƌĞƚŽƌĞĨůĞĐƚŶĞǁƚĞĐŚŶŽůŽŐLJŝŶŝƚŝĂƚŝǀĞƐĂŶĚƚĞĐŚŶŽůŽŐŝĐĂůĂĚǀĂŶĐĞŵĞŶƚƐ͕ǁŚŝůĞĂĚĂƉƚŝŶŐƚŽĐŚĂŶŐŝŶŐďƵƐŝŶĞƐƐŶĞĞĚƐĂŶĚĨŝŶĂŶĐŝĂůĐŽŶĚŝƚŝŽŶƐ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ dŚĞ/d^WŝƐƵƉĚĂƚĞĚĂƐ
ƉĂƌƚŽĨƚŚĞĂŶŶƵĂů>d&W͘dŚĞdZ<ŝdƵƉŐƌĂĚĞŝŵƉůĞŵĞŶƚĂƚŝŽŶǁĂƐĐŽŵƉůĞƚĞĚĞĐĞŵďĞƌϮϬϮϮ͘

KEKD/
s
>KWD
Ed;
Ϳ

Ͳϭ͘Ϭϭ͕
Ͳϭ͘ϬϮ͕
Ͳϭ͘Ϭϯ
ϯ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽĂƐƐŝŐŶŝƚLJƵƌďĂŶƉůĂŶŶĞƌƐǁŝƚŚ ƐƉĞĐŝĂůŝnjĞĚŬŶŽǁůĞĚŐĞĂŶĚĞdžƉĞƌŝĞŶĐĞŝŶƐƉĞĐŝĨŝĐďƵƐŝŶĞƐƐĚŝƐƚƌŝĐƚƐƚŽƐĞƌǀĞĂƐůŝĂŝƐŽŶƐŝŶƚŚĞŝƚLJ͛ƐĂǁĂƌĚͲǁŝŶŶŝŶŐƵƐŝŶĞƐƐ>ŝĂŝƐŽŶWƌŽŐƌĂŵ͘dŚĞůŝĂŝƐŽŶƐƉƌŽǀŝĚĞƐĞƌǀŝĐĞƐƚŽďƵƐŝŶĞƐƐŽǁŶĞƌƐ͘^ĞƌǀŝĐĞƐŝŶĐůƵĚĞŽŶͲƐŝƚĞŵĞĞƚŝŶŐƐƚŽůĞĂƌŶďƵƐŝŶĞƐƐŽǁŶĞƌŶĞĞĚƐĂŶĚĞdžƉůĂŝŶŚŽǁƚŽĂĐĐĞƐƐŝƚLJƌĞƐŽƵƌĐĞƐ͕ǁŚĞƌĞƉŽƐƐŝďůĞ͕ƚŽŚĞůƉďƵƐŝŶĞƐƐĞƐĂĐĐŽŵƉůŝƐŚƚŚĞŝƌŐŽĂůƐĂŶĚŽďũĞĐƚŝǀĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ >ŝĂŝƐŽŶƉƌŽŐƌĂŵŝƐďĞŝŶŐ
ƌĞĂƐƐĞƐƐĞĚǁŝƚŚƚŚĞƌŽůĞŽĨƚŚĞ
ĐŽŶŽŵŝĐĞǀĞůŽƉŵĞŶƚKĨĨŝĐĞƌ͘

EXHIBIT B(ATTACHMENT 1)
43 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^

KEKD/
s
>KWD
Ed;
Ϳ

Ͳϭ͘Ϭϭ͕
Ͳϭ͘ϬϮ͕
Ͳϭ͘Ϭϯ
ϲ KEͲ'K/E' ^ƵƉƉŽƌƚƵƐŝŶĞƐƐ/ŵƉƌŽǀĞŵĞŶƚŝƐƚƌŝĐƚƐŽƌ
ƐŝŵŝůĂƌŵĞĂƐƵƌĞƐĨŽƌĞůDĂƌͬdͲnjŽŶĞ͕>ŽƐDŽůŝŶŽƐ͕
ůĂŵŝŶŽZĞĂů͕WŝĞƌŽǁů͕EŽƌƚŚĞĂĐŚĂŶĚŽƚŚĞƌĐŽŵŵĞƌĐŝĂůĚŝƐƚƌŝĐƚƐ͘dŚĞ ĚŝƐƚƌŝĐƚƐƐŚŽƵůĚŐĞŶĞƌĂƚĞƌĞǀĞŶƵĞƚŽŵĂŝŶƚĂŝŶĞĂĐŚĂƌĞĂ͕ƚŽƐƵƉƉŽƌƚƐƉĞĐŝĂůĞǀĞŶƚƐ͕ĂŶĚƚŽƉƵďůŝĐŝnjĞĞĂĐŚĂƌĞĂ͘dŚĞĚŝƐƚƌŝĐƚƐŵĂLJĂůƐŽďĞĞŵƉŽǁĞƌĞĚ;ŽƌĂƐĞƉĂƌĂƚĞĨŝŶĂŶĐŝŶŐǀĞŚŝĐůĞĞƐƚĂďůŝƐŚĞĚͿƚŽƉƌŽǀŝĚĞƉŚLJƐŝĐĂůŝŵƉƌŽǀĞŵĞŶƚƐ͕ƐƵĐŚĂƐƉĂƌŬŝŶŐĨĂĐŝůŝƚŝĞƐ͕ůĂŶĚƐĐĂƉŝŶŐ͕ůŝŐŚƚŝŶŐ͕ĂŶĚƉĞĚĞƐƚƌŝĂŶĂŶĚďŝĐLJĐůĞĨĂĐŝůŝƚŝĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐƚŚƌŽƵŐŚůŝĂŝƐŽŶ
ƉƌŽŐƌĂŵ

KEKD/
s
>KWD
Ed
;
Ϳ

ͲϮ͘Ϭϰ ϭϬ KEͲ'K/E'
džƉůŽƌĞŽƉƉŽƌƚƵŶŝƚŝĞƐƚŽƉĂƌƚŶĞƌǁŝƚŚĂ
ďƵƐŝŶĞƐƐ͞ŝŶĐƵďĂƚŽƌ͟ŝŶ^ĂŶůĞŵĞŶƚĞ͘
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ

KEKD/
s
>KWD
Ed;
Ϳ
ϭϯ KEͲ'K/E' ƐƐĞƐƐƉĂƌŬŝŶŐŶĞĞĚƐŝŶĞůDĂƌͬdͲŽŶĞ͕
WŝĞƌŽǁů͕ĂŶĚEŽƌƚŚĞĂĐŚĞǀĞƌLJĨŝǀĞLJĞĂƌƐ͕ŽƌĂƐŶĞĞĚĞĚ͕ĂŶĚŝŵƉůĞŵĞŶƚƐŽůƵƚŝŽŶƐƚŽŝĚĞŶƚŝĨŝĞĚƉĂƌŬŝŶŐĚĞĨŝĐŝĞŶĐŝĞƐƚŽĂĐŚŝĞǀĞƚŚĞŝƚLJ͛ƐsŝƐŝŽŶĂŶĚ^ƚƌĂƚĞŐŝĐWůĂŶ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ ŝƚLJƐƚĂĨĨŝƐĞdžƉůŽƌŝŶŐŐƌĂŶƚ
ŽƉƉŽƌƚƵŶŝƚŝĞƐƚŽĐŽŶĚƵĐƚĂĐŽŵƉƌĞŚĞŶƐŝǀĞƉĂƌŬŝŶŐŵĂŶĂŐĞŵĞŶƚƉůĂŶ͘ 'Ks
ZEE
;'Ϳ
'ͲϮ͘Ϭϰ KEͲ'K/E' WƵƌƐƵĞŐƌĂŶƚŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌ
ĐŽŶŽŵŝĐ
ĞǀĞůŽƉŵĞŶƚŽƌĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚƉƌŽũĞĐƚƐƚŚĂƚǁŽƵůĚďĞŶĞĨŝƚƚŚĞƉƵďůŝĐ͘ ŝƚLJDĂŶĂŐĞƌͬWƵďůŝĐtŽƌŬƐ
KŶͲŐŽŝŶŐ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐͲ
/ŶϮϬϮϭ͕ŝƚLJƐƚĂĨĨƉƵƌƐƵĞĚŐƌĂŶƚƐĨŽƌŚŽƵƐŝŶŐͬŚŽŵĞůĞƐƐƐĞƌǀŝĐĞƐ͕ƉĂƌŬŝŶŐŵĂŶĂŐĞŵĞŶƚ͕ŚŝƐƚŽƌŝĐƉƌĞƐĞƌǀĂƚŝŽŶ͕ĂŶĚƐĂŶĚƌĞƉůĞŶŝƐŚŵĞŶƚ͘

EXHIBIT B(ATTACHMENT 1)
44 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
'Ks
ZEE
;'Ϳ
'ͲϮ͘Ϭϰ KEͲ'K/E' WƵƌƐƵĞŐƌĂŶƚŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌ
ĐŽŶŽŵŝĐ
ĞǀĞůŽƉŵĞŶƚŽƌĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚƉƌŽũĞĐƚƐƚŚĂƚǁŽƵůĚďĞŶĞĨŝƚƚŚĞƉƵďůŝĐ͘ ŝƚLJDĂŶĂŐĞƌͬWƵďůŝĐtŽƌŬƐ
KŶͲŐŽŝŶŐ /ŶϮϬϮϮ͕ŝƚLJƐƚĂĨĨ
ƉƵƌƐƵĞĚŐƌĂŶƚƐĨŽƌƐŝĚĞǁĂůŬŝŵƉƌŽǀĞŵĞŶƚƐ͕ŚŽƵƐŝŶŐͬŚŽŵĞůĞƐƐƐĞƌǀŝĐĞƐ͕ƉĂƌŬŝŶŐŵĂŶĂŐĞŵĞŶƚ͕ŚŝƐƚŽƌŝĐƉƌĞƐĞƌǀĂƚŝŽŶ͕ĂŶĚƐĂŶĚƌĞƉůĞŶŝƐŚŵĞŶƚ͘dŚĞŝƚLJĂƉƉůŝĞĚĨŽƌƚŚĞϮϬϮϯůĞĂŶDŽďŝůŝƚLJKƉƚŝŽŶƐŐƌĂŶƚĂŶĚĂŶƚŝĐŝƉĂƚĞƐĂƉƉůLJŝŶŐĨŽƌKd͛ƐŶĞdžƚĐĂůůĨŽƌĂƉƉůŝĐĂƚŝŽŶƐĨŽƌDĞĂƐƵƌĞsĨƵŶĚŝŶŐƚŽĨƵƌƚŚĞƌƐƵƉƉŽƌƚƚŚĞ^ZŝĚĞƐĂŶĚdƌŽůůĞLJ ƉƌŽŐƌĂŵƐ 'Ks
ZEE

;'Ϳ
'Ͳϭ͘Ϭϭ͕'Ͳϭ͘ϬϮ
ϭ KEͲ'K/E' ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚĞƉĂƌƚŵĞŶƚƐƚĂĨĨ
ǁŝůůĂŶŶƵĂůůLJĞǀĂůƵĂƚĞƉƌŽŐƌĞƐƐŝŶĂĐŚŝĞǀŝŶŐƚŚĞ^ƚƌĂƚĞŐŝĐ/ŵƉůĞŵĞŶƚĂƚŝŽŶWƌŽŐƌĂŵĂŶĚŽƚŚĞƌ'ĞŶĞƌĂůWůĂŶŵŝůĞƐƚŽŶĞƐ͘^ƚĂĨĨǁŝůůƌĞƉŽƌƚŝƚƐĨŝŶĚŝŶŐƐƚŽƚŚĞWůĂŶŶŝŶŐŽŵŵŝƐƐŝŽŶ͕ŝƚLJŽƵŶĐŝů͕ĂŶĚ^ƚĂƚĞĂŐĞŶĐŝĞƐĂƐŶĞĐĞƐƐĂƌLJ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘WƌŽŐƌĞƐƐĞǀĂůƵĂƚĞĚ
ĂŶŶƵĂůůLJŝŶƚŚĞƉƌŽĐĞƐƐŽĨƵƉĚĂƚŝŶŐƚŚĞĂŶŶƵĂůďƵĚŐĞƚĂŶĚĐŽŵƉůĞƚŝŶŐƚŚĞ^ƚĂƚĞŵĂŶĚĂƚĞĚ'ĞŶĞƌĂůWůĂŶĂŶĚ,ŽƵƐŝŶŐŶŶƵĂůWƌŽŐƌĞƐƐZĞƉŽƌƚ;WZͿ͘

EXHIBIT B(ATTACHMENT 1)
45 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
'Ks
ZEE
;'Ϳ
'Ͳϭ͘Ϭϰ͕'ϭ͘Ϭϴ
Ϯ KEͲ'K/E' ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚĞƉĂƌƚŵĞŶƚƐƚĂĨĨ
ǁŝůůĚĞǀĞůŽƉĂŶŶƵĂůĞŶƚĞŶŶŝĂů'ĞŶĞƌĂůWůĂŶĂŶĚ,ŽƵƐŝŶŐƐƚĂƚƵƐƌĞƉŽƌƚƐ͘ZĞƉŽƌƚƐǁŝůůŝŶĐůƵĚĞĂƐLJƐƚĞŵŽĨŝŶĚŝĐĂƚŽƌƐŽƌŽƚŚĞƌĨĞĞĚďĂĐŬŵĞĐŚĂŶŝƐŵƐƚŽƚƌĂĐŬƚŚĞ'ĞŶĞƌĂůWůĂŶ͛ƐƉƌŽŐƌĞƐƐƚŽǁĂƌĚĂĐŚŝĞǀŝŶŐŝƚƐŐŽĂůƐĂŶĚĐŽŵŵƵŶŝƚLJǀŝƐŝŽŶ͘dŚĞƌĞƉŽƌƚƐǁŝůůďĞƵƐĞĚƚŽŝŶĨŽƌŵƚŚĞWůĂŶŶŝŶŐŽŵŵŝƐƐŝŽŶ͕ŝƚLJŽƵŶĐŝů͕ĂŶĚƚŚĞ>ŽŶŐdĞƌŵ&ŝŶĂŶĐŝĂůWůĂŶĂŶĚĂŶŶƵĂůďƵĚŐĞƚƉƌŽĐĞƐƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘WƌŽŐƌĞƐƐĞǀĂůƵĂƚĞĚ
ĂŶŶƵĂůůLJĂƐƉĂƌƚŽĨƚŚĞ^ƚĂƚĞ
ŵĂŶĚĂƚĞĚ'ĞŶĞƌĂůWůĂŶĂŶĚ,ŽƵƐŝŶŐŶŶƵĂůWƌŽŐƌĞƐƐZĞƉŽƌƚƉƌŽĐĞƐƐ͘ 'Ks
ZEE
;'Ϳ
'Ͳϭ͘ϬϮ ϯ KEͲ'K/E' ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚĞƉĂƌƚŵĞŶƚƐƚĂĨĨ ǁŝůůĂŶŶƵĂůůLJƌĞǀŝĞǁƚŚĞ'ĞŶĞƌĂůWůĂŶƚŽĞŶƐƵƌĞŝŶƚĞƌŶĂůĐŽŶƐŝƐƚĞŶĐLJĂŶĚĐŽŶƐŝƐƚĞŶĐLJǁŝƚŚŽƚŚĞƌ&ĞĚĞƌĂů͕^ƚĂƚĞĂŶĚůŽĐĂůƌĞŐƵůĂƚŝŽŶƐĂŶĚƉŽůŝĐŝĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘
'Ks
ZEE
;'Ϳ
'Ͳϭ͘Ϭϲ ϰ KEͲ'K/E' ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚĞƉĂƌƚŵĞŶƚƐƚĂĨĨ ǁŝůůƌĞǀŝĞǁĞĂĐŚŶĞǁĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚWůĂŶĂŶĚ>ŽŶŐdĞƌŵ&ŝŶĂŶĐŝĂůWůĂŶĨŽƌĐŽŶƐŝƐƚĞŶĐLJǁŝƚŚƚŚĞ'ĞŶĞƌĂůWůĂŶĂŶĚƌĞƉŽƌƚŝƚƐĨŝŶĚŝŶŐƐƚŽƚŚĞWůĂŶŶŝŶŐŽŵŵŝƐƐŝŽŶĂŶĚŝƚLJŽƵŶĐŝů͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘ŶĂŶĂůLJƐŝƐŝƐ
ĐŽŵƉůĞƚĞĚĂƐƉĂƌƚŽĨƚŚĞƉƌŽĐĞƐƐŽĨƵƉĚĂƚŝŶŐƚŚĞďƵĚŐĞƚĂŶĚĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚWƌŽŐƌĂŵ;/WͿ͘ 'Ks
ZEE
;'Ϳ
'Ͳϭ͘Ϭϵ͕ϭ͘ϭϭ
ϱ KEͲ'K/E' dŚĞŝƚLJǁŝůůĐŽůůĞĐƚĂŶŝŵƉĂĐƚĨĞĞĂƐƉĂƌƚŽĨ ĚĞǀĞůŽƉŵĞŶƚĂƉƉůŝĐĂƚŝŽŶƐŽƌƉĞƌŵŝƚƐƚŽŽĨĨƐĞƚĐŽƐƚƐŽĨŵĂŝŶƚĂŝŶŝŶŐƚŚĞĞŶƚĞŶŶŝĂů'ĞŶĞƌĂůWůĂŶ͕ŝŶĐůƵĚŝŶŐƵƉĚĂƚŝŶŐǁĞďďĂƐĞĚƚĞdžƚĂŶĚŐƌĂƉŚŝĐƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘/ŵƉĂĐƚĨĞĞŝƐ
ĞƐƚĂďůŝƐŚĞĚ

EXHIBIT B(ATTACHMENT 1)
46 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
'Ks
ZEE
;'Ϳ
'Ͳϯ͘Ϭϴ͕'Ͳϯ͘Ϭϵ
ϳ KEͲ'K/E' tŝƚŚĐůĞĂƌĐŽŵŵƵŶŝĐĂƚŝŽŶĂŶĚĞĨĨĞĐƚŝǀĞ
ĐŽŽƌĚŝŶĂƚŝŽŶĂŵŽŶŐƉƌŝǀĂƚĞĂŶĚŶŽŶͲƉƌŽĨŝƚ
ŽƌŐĂŶŝnjĂƚŝŽŶƐ͕ŝŵƉƌŽǀĞĂǁĂƌĞŶĞƐƐĂŶĚƉƌŽŵŽƚĞƚŚĞĨŽůůŽǁŝŶŐ͗ĂͿdŚĞŝƚLJ͛ƐƌŝĐŚůŽĐĂůĂƌƚƐ͕ŚŝƐƚŽƌLJĂŶĚĐƵůƚƵƌĞ͕ďͿĂƌŬƐŬŝĞƐ͕ĐͿKƌŐĂŶŝĐŐĂƌĚĞŶŝŶŐĂŶĚŽƚŚĞƌŚĞĂůƚŚĂŶĚǁĞůůŶĞƐƐŝƐƐƵĞƐ͕ĚͿŝƚLJŚŝƐƚŽƌŝĐƌĞƐŽƵƌĐĞĂƉƉƌĞĐŝĂƚŝŽŶĂŶĚƉƌĞƐĞƌǀĂƚŝŽŶ͖ĞͿ^ŽĐŝĂůĂŶĚŚŽƵƐŝŶŐƐĞƌǀŝĐĞƐ͕ĨͿZĞƐŝĚĞŶƚŝĂůůĂŶĚƐĐĂƉĞƉůĂŶƚŝŶŐƐŝŶĐŽĂƐƚĂůĐĂŶLJŽŶĂŶĚďůƵĨĨĂƌĞĂƐ͘dŚĞŝŶĨŽƌŵĂƚŝŽŶƐŚŽƵůĚĂĚĚƌĞƐƐƌĞĐŽŵŵĞŶĚĞĚƉůĂŶƚƚLJƉĞƐĂŶĚƚŚĞŝƌĐĂƌĞ͕ŝŶǀĂƐŝǀĞƉůĂŶƚƐƌĞŵŽǀĂů͕ĂŶĚůĂŶĚƐĐĂƉŝŶŐĨŽƌĨŝƌĞƐĂĨĞƚLJ͕ŐͿDĂƉƐŽĨŚĂnjĂƌĚĂƌĞĂƐ͕ůĂŶĚƵƐĞƉůĂŶƐ͕ĞƚĐ͕͘ŚͿ ŶĞƌŐLJĐŽŶƐĞƌǀĂƚŝŽŶ͕ŝͿ>ŝĂŝƐŽŶĂŶĚĐƵƐƚŽŵĞƌƐĞƌǀŝĐĞƉƌŽŐƌĂŵƐ͕ũͿWƌĞƐĞƌǀĂƚŝŽŶĂŶĚĐƌĞĂƚŝŽŶŽĨĐŽĂƐƚĂůƚĞƌƌĞƐƚƌŝĂůǁŝůĚůŝĨĞŽƌƉůĂŶƚƐĂŶĐƚƵĂƌŝĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘dŚĞŝƚLJƉƌŽǀŝĚĞƐ
ŝŶĨŽƌŵĂƚŝŽŶƚŽƚŚĞƉƵďůŝĐŽŶǀĂƌŝŽƵƐƚŽƉŝĐƐƚŚƌŽƵŐŚŝƚƐǁĞďƐŝƚĞ͕ŵĂƉƉŝŶŐƚŽŽůƐ͕ĂŶĚƉƵďůŝĐĂŶŶŽƵŶĐĞŵĞŶƚƐĂƚŝƚLJƉƵďůŝĐŵĞĞƚŝŶŐƐ͕ƐƵĐŚĂƐƉƌĞƐƐƌĞůĞĂƐĞƐĂŶĚƐŽĐŝĂůŵĞĚŝĂƉŽƐƚƐ͘ 'ZKtd,DE'
D
Ed;'DͿ
'DͲϭ͘ϬϮ ϯ KEͲ'K/E' DĂŝŶƚĂŝŶŝƚLJƉĂƌƚŝĐŝƉĂƚŝŽŶŝŶƚŚĞZŝĐŚĂƌĚ ĂŶĚŽŶŶĂKΖEĞŝůůŽŶƐĞƌǀĂŶĐLJ͕ůŽĐĂƚĞĚŽŶƚŚĞZĞƐĞƌǀĞĂƚZĂŶĐŚŽDŝƐƐŝŽŶsŝĞũŽ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ 
'ZKtd,DE'
D
Ed;'DͿ
'DͲϮ͘Ϭϭ ϱ KEͲ'K/E' ŝƚLJƐŚĂůůƉĞƌŝŽĚŝĐĂůůLJƵƉĚĂƚĞŝƚƐƐƚĂŶĚĂƌĚƐ ĨŽƌƚŚĞƉƌŽǀŝƐŝŽŶŽĨƉƵďůŝĐƐĞƌǀŝĐĞƐƚŽƌĞĨůĞĐƚĐƵƌƌĞŶƚŶĞĞĚƐĂŶĚĐŽƐƚƐ͕ŝŶĐůƵĚŝŶŐ͗ĨŝƌĞͬĞŵĞƌŐĞŶĐLJŵĞĚŝĐĂů͕ůŝďƌĂƌLJ͕ĂŶĚƉŽůŝĐĞ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͕ƚŚĞƌĞǀŝĞǁŽĨ
ƚŚĞƐĞƐƚĂŶĚĂƌĚƐǁŝůůďĞĐŽŶƐŝĚĞƌĞĚĚƵƌŝŶŐƚŚĞŝƚLJ͛Ɛ>ŽŶŐdĞƌŵ&ŝŶĂŶĐŝĂůWůĂŶĂŶĚƚŚĞĂŶŶƵĂůďƵĚŐĞƚƉƌŽĐĞƐƐ͘ 'ZKtd,DE'
D
Ed;'DͿ
ϲ KEͲ'K/E' /ĨĂŶŶĞdžĂƚŝŽŶƚŽƚŚĞŝƚLJŝƐĐŽŶƐŝĚĞƌĞĚ͕ƚŚĞ ƉŽƚĞŶƚŝĂůĂŶŶĞdžĂƚŝŽŶƐŚĂůůƌĞƋƵŝƌĞƉƌĞƉĂƌĂƚŝŽŶŽĨĂŶĞĐŽŶŽŵŝĐŝŵƉĂĐƚĂŶĂůLJƐŝƐ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ /ŶƚŚĞĞǀĞŶƚŽĨĂŶ
ĂŶŶĞdžĂƚŝŽŶŽĨWůĂŶŶŝŶŐƌĞĂϱŽĨZĂŶĐŚŽDŝƐƐŝŽŶsŝĞũŽ͕ƚŚŝƐƌĞƋƵŝƌĞŵĞŶƚǁŝůůďĞŵĞƚ͘

EXHIBIT B(ATTACHMENT 1)
47 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
'ZKtd,DE'
D
Ed;'DͿ
'DͲϭ͘Ϭϯ ϳ KEͲ'K/E' dŚĞŝƚLJǁŝůůƐƚƵĚLJĂŶĚĂĚŽƉƚƵƉĚĂƚĞĚĨĞĞƐ ĂŶĚŽƚŚĞƌĂƉƉƌŽƉƌŝĂƚĞĨŝŶĂŶĐŝŶŐŵĞĂƐƵƌĞƐ
ƚŽŝŶĐƌĞĂƐĞƌĞǀĞŶƵĞĂŶĚĞŶƐƵƌĞŶĞǁŝŶͲŝƚLJĚĞǀĞůŽƉŵĞŶƚƉĂLJƐŝƚƐƐŚĂƌĞŽĨƚŚĞĐŽƐƚƐŽĨŶĞǁƐĞƌǀŝĐĞƐĂŶĚĨĂĐŝůŝƚŝĞƐŶĞĞĚĞĚƚŽƐĞƌǀĞŝƚ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ ^ƚĂĨĨƉĞƌŝŽĚŝĐĂůůLJƵƉĚĂƚĞƐ
ĨĞĞƐ͕ĂůŽŶŐǁŝƚŚĨŝŶĂŶĐŝŶŐŵĞĐŚĂŶŝƐŵƐƚŽĞŶƐƵƌĞŶĞǁĚĞǀĞůŽƉŵĞŶƚĐŽǀĞƌƐĐŽƐƚƐŽĨĨƵƚƵƌĞŝƚLJƐĞƌǀŝĐĞƐ͘ 'ZKtd,DE'
D
Ed;'DͿ
'DͲϭ͘Ϭϳ Ϯ KEͲ'K/E' DĂŝŶƚĂŝŶĂĨŽƌŵĂůĐŽŵŵƵŶŝĐĂƚŝŽŶƉƌŽĐĞƐƐ ǁŝƚŚĂŵƉWĞŶĚůĞƚŽŶƚŽƐƚĂLJŝŶĨŽƌŵĞĚŽĨůĂŶĚƵƐĞ͕ŶŽŝƐĞ͕ĂŶĚŽƚŚĞƌŝƐƐƵĞƐƌĞůĂƚŝŶŐƚŽŵŝůŝƚĂƌLJƐŝƚĞƐĂĚũĂĐĞŶƚƚŽƚŚĞŝƚLJ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ ^ƚĂĨĨŚĂƐĞƐƚĂďůŝƐŚĞĚůŝŶĞƐŽĨ
ĐŽŵŵƵŶŝĐĂƚŝŽŶƌĞůĂƚĞĚƚŽŝƐƐƵĞƐĂĨĨĞĐƚĞĚďLJďĂƐĞŽƉĞƌĂƚŝŽŶƐ͘ 'ZKtd,DE'
D
Ed;'DͿ
'DͲϭ͘Ϭϲ͕'DͲϮ͘Ϭϲ
ϰ KEͲ'K/E' tŽƌŬŝŶŐǁŝƚŚ>&K͕ƵƉĚĂƚĞƚŚĞŝƚLJ͛Ɛ
^ƉŚĞƌĞŽĨ/ŶĨůƵĞŶĐĞĂŶĚDƵŶŝĐŝƉĂů^ĞƌǀŝĐĞƐZĞǀŝĞǁƚŽĂĚĚƌĞƐƐƉŽƚĞŶƚŝĂůĚĞǀĞůŽƉŵĞŶƚŝŶƵŶŝŶĐŽƌƉŽƌĂƚĞĚĂƌĞĂƐĂĚũĂĐĞŶƚƚŽƚŚĞŝƚLJ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ ^ƚĂĨĨĐŽŽƌĚŝŶĂƚĞƐǁŝƚŚ>&K
ƐƚĂĨĨĂŶĚƉƌŽǀŝĚĞƐƌĞƋƵĞƐƚĞĚŝŶĨŽƌŵĂƚŝŽŶ͕ŝŶĐůƵĚŝŶŐƐƵƌǀĞLJƐ͘ 'ZKtd,DE'
D
Ed;'DͿ
'DͲϮ͘Ϭϯ͕'DͲϮ͘Ϭϱ
ϭ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽƌĞŐƵůĂƌůLJƵƉĚĂƚĞĚĞǀĞůŽƉŵĞŶƚ
ŝŵƉĂĐƚĨĞĞƐĂŶĚͬŽƌŽƚŚĞƌĨŝŶĂŶĐŝŶŐŵĞĐŚĂŶŝƐŵƐƐŽƚŚĂƚĚĞǀĞůŽƉŵĞŶƚŽƵƚƐŝĚĞŝƚLJ>ŝŵŝƚƐƚŚĂƚƌĞƋƵĞƐƚƵƐĞŽĨŝƚLJƐĞƌǀŝĐĞƐŽƌĨĂĐŝůŝƚŝĞƐƉĂLJƐƚŚĞĨƵůůĐŽƐƚƐŶĞĞĚĞĚƚŽƐĞƌǀĞŝƚĂŶĚĚŽĞƐŶŽƚĚĞĐƌĞĂƐĞůĞǀĞůƐŽĨƐĞƌǀŝĐĞƚŽ^ĂŶůĞŵĞŶƚĞƌĞƐŝĚĞŶƚƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐĂƐŽƉƉŽƌƚƵŶŝƚŝĞƐ
ĂƌŝƐĞ͘
'ZKtd,DE'
D
Ed;'DͿ
'DͲϮ͘Ϭϭ ϱĂ KEͲ'K/E' ŝƚLJƐŚĂůůƉĞƌŝŽĚŝĐĂůůLJƵƉĚĂƚĞŝƚƐƐƚĂŶĚĂƌĚƐ ĨŽƌƚŚĞƉƌŽǀŝƐŝŽŶŽĨƉƵďůŝĐƐĞƌǀŝĐĞƐĂŶĚ
ĨĂĐŝůŝƚŝĞƐƚŽƌĞĨůĞĐƚĐƵƌƌĞŶƚŶĞĞĚƐĂŶĚĐŽƐƚƐ͕ŝŶĐůƵĚŝŶŐ͗ĚƌĂŝŶĂŐĞͬĨůŽŽĚĐŽŶƚƌŽů͕ƉĂƌŬƐ͕ǁĂƚĞƌĂŶĚǁĂƐƚĞǁĂƚĞƌ͕ĂŶĚƚƌĂĨĨŝĐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ^ƚĂŶĚĂƌĚƐƉĞƌŝŽĚŝĐĂůůLJ
ƌĞǀŝĞǁĞĚĂŶĚƵƉĚĂƚĞĚ͘

EXHIBIT B(ATTACHMENT 1)
48 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
,/^dKZ/WZ
^
Zsd/KE;,WͿ
,WͲϭ͘Ϭϰ Ϯ KEͲ'K/E' ŽŶƐŝĚĞƌŶŽŵŝŶĂƚŝŶŐƉƌŽƉĞƌƚŝĞƐĨŽƌ ŝŶĐůƵƐŝŽŶŽŶƚŚĞEĂƚŝŽŶĂůĂŶĚͬŽƌ^ƚĂƚĞZĞŐŝƐƚĞƌŽĨ,ŝƐƚŽƌŝĐWůĂĐĞƐǁŚĞŶƌĞŐŝƐƚƌĂƚŝŽŶĐƌŝƚĞƌŝĂŝƐŵĞƚ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘dŚŝƐŐŝǀĞƐƚŚĞŝƚLJ
ĂĚĚŝƚŝŽŶĂůƉƌŽƚĞĐƚŝŽŶƐĨŽƌƉƌŽũĞĐƚƐƚŚĂƚĐĂŶĂĚǀĞƌƐĞůLJ ĂĨĨĞĐƚƚŚĞƐƚĂƚƵƐŽĨŚŝƐƚŽƌŝĐƌĞƐŽƵƌĐĞƐ͘
,/^dKZ/WZ
^
Zsd/KE;,WͿ
,WͲϭ͘Ϭϭ ϯ KEͲ'K/E' WƵƌƐƵĞĨŝŶĂŶĐŝĂůƌĞƐŽƵƌĐĞƐĨƌŽŵƐƚĂƚĞ͕ ĨĞĚĞƌĂůĂŶĚƉƌŝǀĂƚĞƐŽƵƌĐĞƐ͕ĂŶĚŽƚŚĞƌĨƵŶĚŝŶŐŽƉƚŝŽŶƐ͕ŝŶĐůƵĚŝŶŐƚŚĞƉŽƐƐŝďŝůŝƚLJŽĨƉƵďůŝĐͲƉƌŝǀĂƚĞƉĂƌƚŶĞƌƐŚŝƉƐ͕ƚŽƐƵƉƉŽƌƚŽĨŚŝƐƚŽƌŝĐƉƌĞƐĞƌǀĂƚŝŽŶŽďũĞĐƚŝǀĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘DŽŶŝƚŽƌĂŶĚƐĞĞŬ
ĨƵŶĚŝŶŐĂƐŽƉƉŽƌƚƵŶŝƚŝĞƐďĞĐŽŵĞĂǀĂŝůĂďůĞ͕ŶĞĞĚƐŽĐĐƵƌ͕ĂŶĚĂƐĚŝƌĞĐƚĞĚďLJŽƵŶĐŝů͘ƉƉůŝĞĚĂŶĚŽďƚĂŝŶĞĚŐƌĂŶƚĨƵŶĚŝŶŐŝŶϮϬϭϵĨŽƌĂEŽƌƚŚĞĂĐŚ,ŝƐƚŽƌŝĐŝƐƚƌŝĐƚ͘ĞƐŝŐŶĂƚŝŽŶŽĨƚŚĞŚŝƐƚŽƌŝĐĚŝƐƚƌŝĐƚŽŶƚŚĞEĂƚŝŽŶĂůZĞŐŝƐƚĞƌŽĨ,ŝƐƚŽƌŝĐWůĂĐĞƐŽĐĐƵƌƌĞĚŝŶ:ĂŶƵĂƌLJϮϬϮϭ͘ ,/^dKZ/WZ
^
Zsd/KE;,WͿ
ϰ KEͲ'K/E' WĂƌƚŝĐŝƉĂƚĞŝŶƚŚĞEĂƚŝŽŶĂůdƌƵƐƚĨŽƌ
,ŝƐƚŽƌŝĐWƌĞƐĞƌǀĂƚŝŽŶDĂŝŶ^ƚƌĞĞƚWƌŽŐƌĂŵ͘
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ
,/^dKZ/WZ
^
Zsd/KE;,WͿ
ϱĂ KEͲ'K/E' DĂŝŶƚĂŝŶƚŚĞŝƚLJ͛ƐůŝƐƚŽĨĚĞƐŝŐŶĂƚĞĚ
>ĂŶĚŵĂƌŬƐĂŶĚ,ŝƐƚŽƌŝĐZĞƐŽƵƌĐĞƐ͘
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘>ŝƐƚŝƐĂǀĂŝůĂďůĞ
ŽŶůŝŶĞ͘

EXHIBIT B(ATTACHMENT 1)
49 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
,/^dKZ/WZ
^
Zsd/KE;,WͿ
ϳ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽƐƵƉƉŽƌƚĂŶĚĞdžƉůŽƌĞ
ƉƌĞƐĞƌǀĂƚŝŽŶŝŶĐĞŶƚŝǀĞƐĂŶĚƉŽƚĞŶƚŝĂůĨŝŶĂŶĐŝĂůĂƐƐŝƐƚĂŶĐĞ͕ƐƵĐŚĂƐƌĞŚĂďŝůŝƚĂƚŝŽŶƚĂdžĐƌĞĚŝƚƐ͕ĨĂĐĂĚĞĞĂƐĞŵĞŶƚƐ͕ƉƌĞƐĞƌǀĂƚŝŽŶŐƌĂŶƚƐ͕ƚƌĂŶƐĨĞƌŽĨĚĞǀĞůŽƉŵĞŶƚƌŝŐŚƚƐ͕njŽŶŝŶŐŝŶĐĞŶƚŝǀĞƐ͕ĂŶĚƐƚĂƚĞ͕ĨĞĚĞƌĂů͕ŶŽŶͲƉƌŽĨŝƚĂƐƐŝƐƚĂŶĐĞĂŶĚƉƌŝǀĂƚĞĚŽŶĂƚŝŽŶƐ͕ƉĞƌŵŝƚĨĞĞǁĂŝǀĞƌƐ͕ĂŶĚƌĞŚĂďŝůŝƚĂƚŝŽŶůŽĂŶƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘ŽŶƚŝŶƵĞƚŽ
ŵŽŶŝƚŽƌĂŶĚƐƵƉƉŽƌƚŽƉƉŽƌƚƵŶŝƚŝĞƐƚŽŝŶĐĞŶƚŝǀŝnjĞŚŝƐƚŽƌŝĐƉƌĞƐĞƌǀĂƚŝŽŶƉƌŽŐƌĂŵƐĂŶĚŝŵƉƌŽǀĞŵĞŶƚƐ;Ğ͘Ő͘,WWͿ͕ĂƐĚŝƌĞĐƚĞĚďLJŽƵŶĐŝů͘/ŶϮϬϮϬ͕Ă,WWŝŶƐƉĞĐƚŝŽŶĨĞĞǁĂƐĂƉƉƌŽǀĞĚĨŽƌĂƐƉĞĐŝĂůŝƐƚƚŽĂƐƐĞƐƐƚŚĞƐƚĂƚƵƐŽĨĐŽŶƚƌĂĐƚŝŵƉƌŽǀĞŵĞŶƚƐĂŶĚŶĞǁŽƉƉŽƌƚƵŶŝƚŝĞƐƚŽĂƉƉůLJƉƌŽŐƌĂŵƚĂdžŝŶĐĞŶƚŝǀĞƐƚŽǁĂƌĚŝŵƉƌŽǀŝŶŐƌĞƐŽƵƌĐĞŝŶƚĞŐƌŝƚLJ͘ ,/^dKZ/WZ
^
Zsd/KE;,WͿ
,WͲϭ͘Ϭϰ͕,WͲϭ͘Ϭϱ
ϴ KEͲ'K/E' WƌŽǀŝĚĞƚŚĞƉƵďůŝĐǁŝƚŚƚĞĐŚŶŝĐĂůĂƐƐŝƐƚĂŶĐĞ ĂŶĚŝŶĨŽƌŵĂƚŝŽŶŽŶƉƌĞƐĞƌǀĂƚŝŽŶŵĞƚŚŽĚƐĂŶĚƉƌŽŵŽƚĞƚŚĞƵƐĞŽĨĂůŝĨŽƌŶŝĂ͛Ɛ,ŝƐƚŽƌŝĐƵŝůĚŝŶŐŽĚĞĨŽƌƉƌĞƐĞƌǀĂƚŝŽŶŽĨŚŝƐƚŽƌŝĐƌĞƐŽƵƌĐĞƐ͘dŚŝƐŝŶĨŽƌŵĂƚŝŽŶŵĂLJĐŽŶƐŝƐƚŽĨŚŝƐƚŽƌŝĐƉƌĞƐĞƌǀĂƚŝŽŶŵĂƚĞƌŝĂůƐĂŶĚŵĞĚŝĂĨŽƌŚŽŵĞŽǁŶĞƌƐ͕ƌĞĂůƚŽƌƐ͕ĐŽŶƚĂĐƚŽƌƐĂŶĚĚĞǀĞůŽƉĞƌƐƚŽĞĚƵĐĂƚĞƚŚĞƉƵďůŝĐŽŶƌĞƋƵŝƌĞŵĞŶƚƐ͕ŐƵŝĚĞůŝŶĞƐĂŶĚƉƌŽĐĞƐƐĞƐ͘KƵƚƌĞĂĐŚƐŚŽƵůĚďĞƉƌŽǀŝĚĞĚƚŚƌŽƵŐŚǁŽƌŬƐŚŽƉƐĨŽƌŚŽŵĞŽǁŶĞƌƐ͕ĚĞǀĞůŽƉĞƌƐ͕ƌĞĂůĞƐƚĂƚĞƉƌŽĨĞƐƐŝŽŶĂůƐĂŶĚŽƚŚĞƌƐĚĞƐĐƌŝďŝŶŐƚŚĞďĞŶĞĨŝƚƐĂŶĚŽďůŝŐĂƚŝŽŶƐŽĨŽǁŶŝŶŐŚŝƐƚŽƌŝĐƉƌŽƉĞƌƚLJĂŶĚƚŚĞŝŶĐĞŶƚŝǀĞƐĂǀĂŝůĂďůĞĨŽƌƌĞŚĂďŝůŝƚĂƚŝŽŶ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘,WWƉƌŽŐƌĂŵĂŶĚ
ĚĞǀĞůŽƉŵĞŶƚƌĞǀŝĞǁƉƌŽĐĞƐƐ͘

EXHIBIT B(ATTACHMENT 1)
50 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
,/^dKZ/WZ
^
Zsd/KE;,WͿ
,WͲϭ͘Ϭϭ ϭϱ KEͲ'K/E' ĞǀĞůŽƉĂŶĚƉƌŽǀŝĚĞƚƌĂŝŶŝŶŐĨŽƌƵůƚƵƌĂů ,ĞƌŝƚĂŐĞŽĂƌĚĂŶĚŝƚLJƐƚĂĨĨŽŶƚŚĞ^ĞĐƌĞƚĂƌLJŽĨƚŚĞ/ŶƚĞƌŝŽƌ͛Ɛ^ƚĂŶĚĂƌĚƐĨŽƌƚŚĞdƌĞĂƚŵĞŶƚŽĨ,ŝƐƚŽƌŝĐWƌŽƉĞƌƚŝĞƐ͕ƚŚĞ^ĂŶůĞŵĞŶƚĞƉƌĞƐĞƌǀĂƚŝŽŶŽƌĚŝŶĂŶĐĞ͕ƚŚĞĂůŝĨŽƌŶŝĂ,ŝƐƚŽƌŝĐĂůƵŝůĚŝŶŐŽĚĞ͕ĂŶĚŽƚŚĞƌƉƌĞƐĞƌǀĂƚŝŽŶŝŶĨŽƌŵĂƚŝŽŶ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘dƌĂŝŶŝŶŐŝƐƉƌŽǀŝĚĞĚ
ĂŶŶƵĂůůLJ͘
,/^dKZ/WZ
^
Zsd/KE;,WͿ
,WͲϭ͘Ϭϯ ϭϲ KEͲ'K/E' DĂŝŶƚĂŝŶĞƌƚŝĨŝĞĚ>ŽĐĂů'ŽǀĞƌŶŵĞŶƚ;>'Ϳ ƐƚĂƚƵƐ͘
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘^ƚĂƚƵƐŝƐ
ŵĂŝŶƚĂŝŶĞĚĂŶŶƵĂůůLJ͘
,/^dKZ/WZ
^
Zsd/KE;,WͿ
,WͲϭ͘Ϭϰ ϭϴ KEͲ'K/E'
ƐƚĂďůŝƐŚĂŶĚƌĞŐƵůĂƌůLJƵƉĚĂƚĞĂůŝƐƚŽĨ
ƋƵĂůŝĨŝĞĚĂƌĐŚŝƚĞĐƚƵƌĂůŚŝƐƚŽƌŝĂŶƐƚŽƵƐĞĨŽƌƉƌŽũĞĐƚĐŽŶƐƵůƚĂƚŝŽŶ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘YƵĂůŝĨŝĞĚŚŝƐƚŽƌŝĐ
ƐƉĞĐŝĂůŝƐƚƐĂƌĞďĞŝŶŐƵƐĞĚƚŽĂƐƐĞƐƐƉƌŽƉŽƐĞĚĂŶĚĞdžŝƐƚŝŶŐ,ŝƐƚŽƌŝĐWƌĞƐĞƌǀĂƚŝŽŶWƌŽƉĞƌƚLJŐƌĞĞŵĞŶƚƐ͘ ,/^dKZ/WZ
^
Zsd/KE;,WͿ
Ϯϭ KEͲ'K/E' ZĞǀŝĞǁĚŝƐĐƌĞƚŝŽŶĂƌLJĚĞǀĞůŽƉŵĞŶƚ
ĂƉƉůŝĐĂƚŝŽŶƐĨŽƌĐŽŶƐŝƐƚĞŶĐLJǁŝƚŚŚŝƐƚŽƌŝĐƉƌĞƐĞƌǀĂƚŝŽŶƉŽůŝĐŝĞƐŝŶƚŚĞ'ĞŶĞƌĂůWůĂŶ͕ƚŚĞ,ŝƐƚŽƌŝĐWƌĞƐĞƌǀĂƚŝŽŶKƌĚŝŶĂŶĐĞĂŶĚnjŽŶŝŶŐƐƚĂŶĚĂƌĚƐ͕ƚŚĞ^ĞĐƌĞƚĂƌLJŽĨƚŚĞ/ŶƚĞƌŝŽƌ^ƚĂŶĚĂƌĚƐĨŽƌƚŚĞdƌĞĂƚŵĞŶƚŽĨ,ŝƐƚŽƌŝĐWƌŽƉĞƌƚŝĞƐ͕ĂŶĚƚŚĞĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘ƉƉůŝĐĂƚŝŽŶƐĂƌĞ
ƌĞǀŝĞǁĞĚĨŽƌĐŽŶƐŝƐƚĞŶĐLJǁŝƚŚƚŚĞ^ĞĐƌĞƚĂƌLJŽĨƚŚĞ/ŶƚĞƌŝŽƌΖƐ^ƚĂŶĚĂƌĚƐĨŽƌƚŚĞdƌĞĂƚŵĞŶƚŽĨ,ŝƐƚŽƌŝĐ^ƚƌƵĐƚƵƌĞƐĂŶĚŽƚŚĞƌƉŽůŝĐLJĂŶĚŐƵŝĚĞůŝŶĞĚŽĐƵŵĞŶƚƐ͘ ,/^dKZ/WZ
^
Zsd/KE;,WͿ
Ϯϯď KEͲ'K/E' tŽƌŬǁŝƚŚƉƵďůŝĐǁŽƌŬƐƚŚƌŽƵŐŚƚŚĞ/WƚŽ ŝĚĞŶƚŝĨLJĂŶĚƉƵƌƐƵĞƉƵďůŝĐŝŵƉƌŽǀĞŵĞŶƚƐĂĚũĂĐĞŶƚƚŽŽƌŽŶƉƌŽƉĞƌƚŝĞƐǁŝƚŚŚŝƐƚŽƌŝĐƌĞƐŽƵƌĐĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ 

EXHIBIT B(ATTACHMENT 1)
51 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
,/^dKZ/WZ
^
Zsd/KE;,WͿ
Ϯϳ KEͲ'K/E' /ŵƉůĞŵĞŶƚĂŚŝƐƚŽƌŝĐƉůĂƋƵĞƉƌŽŐƌĂŵĨŽƌĂůů ŚŝƐƚŽƌŝĐƌĞƐŽƵƌĐĞƐ͘WůĂƋƵĞĚĞƐŝŐŶƐƐŚĂůůďĞĐŽŶƐŝƐƚĞŶƚǁŝƚŚƚŚĞĂĚŽƉƚĞĚǁĂLJĨŝŶĚŝŶŐƐŝŐŶƉƌŽŐƌĂŵ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘/ŶϮϬϮϬ͕ƚŚĞ
WůĂŶŶŝŶŐŽŵŵŝƐƐŝŽŶĂƉƉƌŽǀĞĚƚŚĞƉůĂƋƵĞĚĞƐŝŐŶĨŽƌƚŚĞEŽƌƚŚĞĂĐŚ,ŝƐƚŽƌŝĐŝƐƚƌŝĐƚ͘ >Eh^
;>hͿ >hͲϭϮ͘ϬϮ͕
>hͲϭϮ͘Ϭϳ
ϮϬ KEͲ'K/E' DĞĞƚǁŝƚŚĚĞǀĞůŽƉĞƌƐƚŽďĞƚƚĞƌƵŶĚĞƌƐƚĂŶĚ
ĐŚĂŶŐŝŶŐŽƉƉŽƌƚƵŶŝƚŝĞƐĂŶĚĐŽŶƐƚƌĂŝŶƚƐ;ƉŚLJƐŝĐĂů͕ƌĞŐƵůĂƚŽƌLJĂŶĚĨŝŶĂŶĐŝĂůͿ͕ĂŶĚƵƐĞĨĞĞĚďĂĐŬƚŽŵĂŝŶƚĂŝŶĂŶĚŝŵƉůĞŵĞŶƚĞĨĨĞĐƚŝǀĞƐƚĂŶĚĂƌĚƐĨŽƌĚĞǀĞůŽƉŵĞŶƚƚŚĂƚĨƵůĨŝůůƐŝƚLJŐŽĂůƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘EŽĐŽŶƐƚƌĂŝŶƚƐ͘
DŽŶŝƚŽƌĂŶĚƌĞƐĞĂƌĐŚĂƐŶĞĞĚĞĚƚŽĂĚĚƌĞƐƐŝƐƐƵĞƐĂŶĚŝŶĨŽƌŵĚĞĐŝƐŝŽŶŵĂŬĞƌƐ͘ >Eh^
;>hͿ >hͲϴ͘Ϭϲ͕
>hͲϵ͘Ϭϱ͕>hͲϭϬ͘Ϭϵ͕>hͲϭϮ͘Ϭϵ͕>hͲϭϯ͘ϬϮ͕>hͲϭϰ͘Ϭϱ
ϭϴ KEͲ'K/E' ĞǀĞůŽƉƐƚƌĂƚĞŐŝĞƐƚŽŝŵƉƌŽǀĞƚƌĂŶƐŝƚ͕
ƉĞĚĞƐƚƌŝĂŶĂŶĚďŝĐLJĐůĞĂĐĐĞƐƐĂŶĚƌĞĚƵĐĞĐŽŶŐĞƐƚŝŽŶ͕ƉŽƐƐŝďůLJŝŶĐůƵĚŝŶŐƐŚƵƚƚůĞƐĞƌǀŝĐĞƐĂŶĚďŝĐLJĐůĞĨĂĐŝůŝƚŝĞƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐͲ /ŵƉůĞŵĞŶƚĞĚƚƌŽůůĞLJƐĞƌǀŝĐĞƐƚĂƌƚŝŶŐŝŶϮϬϭϳ͘ŽŶƚŝŶƵŝŶŐƚŽŝŵƉƌŽǀĞĂŶĚͬŽƌĂĚĚďŝĐLJĐůĞĨĂĐŝůŝƚŝĞƐŝŶĐŽŶũƵŶĐƚŝŽŶǁŝƚŚĂƉƉƌŽǀĞĚƐƚƌĞĞƚƌĞŚĂďŝůŝƚĂƚŝŽŶƉƌŽũĞĐƚƐ͘ůƐŽ͕ĐŽŶƚŝŶƵĞƚŽŝŵƉůĞŵĞŶƚŝŶŶŽǀĂƚŝǀĞƌŝĚĞƐŚĂƌĞƉƌŽŐƌĂŵŝŶƉĂƌƚŶĞƌƐŚŝƉǁŝƚŚ>LJĨƚƵƚƚĞƌĨůŝĂŶĚzĞůůŽǁĂď͘ >Eh^
;>hͿ >hͲϭϮ͘Ϭϵ Ϯϯ KEͲ'K/E' ŽŶƐŝĚĞƌƚƌĂĨĨŝĐĐĂůŵŝŶŐƐƚƌĂƚĞŐŝĞƐŝŶƚŚĞ ĂƌĞĂ͘
WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ͕ĨƵŶĚŝŶŐ ůŝŵŝƚĂƚŝŽŶƐͲŽĂƐƌĞƋƵĞƐƚƐͬƉĞƚŝƚŝŽŶƐĂƌĞƌĞĐĞŝǀĞĚĂŶĚŝŶĐŽŶũƵŶĐƚŝŽŶǁŝƚŚƐƚƌĞĞƚŝŵƉƌŽǀĞŵĞŶƚƉƌŽũĞĐƚƐƉůƵƐĂŶŶƵĂů/WƉůĂŶŶŝŶŐ͘

EXHIBIT B(ATTACHMENT 1)
52 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
>Eh^
;>hͿ >hͲϭϰ͘Ϭϱ Ϯϱ KEͲ'K/E' ĞǀĞůŽƉĂŶĞǁƐƚƌĞĞƚƐĐĂƉĞĂŶĚ ůĂŶĚƐĐĂƉŝŶŐƉůĂŶĂŶĚ^ĂĨĞZŽƵƚĞƐƚŽ^ĐŚŽŽůƉƌŽŐƌĂŵƚŽŝŵƉůĞŵĞŶƚƚŚĞDŽďŝůŝƚLJĂŶĚŽŵƉůĞƚĞ^ƚƌĞĞƚƐ ůĞŵĞŶƚĂŶĚŝĐLJĐůĞĂŶĚWĞĚĞƐƚƌŝĂŶDĂƐƚĞƌWůĂŶ͘
WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ ^ĐŚĞĚƵůŝŶŐͬdŝŵŝŶŐ͗ KďƚĂŝŶĞĚŐƌĂŶƚĨŽƌ^͘
ůĂŵŝŶŽZĞĂů͘WůĂŶŶĞĚĂŶĚďƵĚŐĞƚĞĚŝŶŐƌĂŶƚĨŽƌ&zϮϬϮϰ͘ĞůĂLJĞĚĚƵĞƚŽĂůdƌĂŶƐƉƌŽũĞĐƚ͘tŽƌŬŝŶŐŽŶǀĞ͘WŝĐŽŝŬĞ/ŵƉƌŽǀĞŵĞŶƚƐĞĂƐƚŽĨ/ͲϱƚŽsĞƌĂƌƵnj͘ DK/>/dzEKDW>
d
^dZ

d^
DͲϭ͘ϮϮ ϯϮ KEͲ'K/E'
ŶĐŽƵƌĂŐĞŝƚLJŽĨĨŝĐŝĂůƐĂŶĚĞŵƉůŽLJĞĞƐ͕ĂƐ
ǁĞůůĂƐŽƚŚĞƌĞŵƉůŽLJĞƌƐ͕ƚŽƉĂƌƚŝĐŝƉĂƚĞŝŶ͞ŝŬĞƚŽtŽƌŬDŽŶƚŚ͟ĂŶĚ͞ŝŬĞƚŽtŽƌŬtĞĞŬ͘͟ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ dŚĞKƌĂŶŐĞŽƵŶƚLJ
dƌĂŶƐƉŽƌƚĂƚŝŽŶƵƚŚŽƌŝƚLJ;KdͿŝŶĐĞŶƚŝǀŝnjĞƐ͞ŝŬĞƚŽtŽƌŬDŽŶƚŚ͟ĂŶĚ͞ŝŬĞƚŽtŽƌŬtĞĞŬ͘͟ DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϯ͘Ϭϱ͕DͲϮ͘Ϯϵ
ϮϮ KEͲ'K/E' ,ŽƐƚďŝĐLJĐůĞĂŶĚǁĂůŬŝŶŐƐĂĨĞƚLJůĞƐƐŽŶƐ
ƐƵĐŚĂƐŝŶƚĞƌŶĂƚŝŽŶĂůǁĂůŬͬďŝŬĞƚŽƐĐŚŽŽůĚĂLJĞǀĞŶƚƐ͘
WZ KŶͲŐŽŝŶŐ dŚĞŝƚLJŚŽƐƚƐĂŝŬĞ
^ĂĨĞƚLJZŽĚĞŽĞǀĞŶƚĂŶŶƵĂůůLJŝŶƉĂƌƚŶĞƌƐŚŝƉǁŝƚŚKƌĂŶŐĞŽƵŶƚLJ^ŚĞƌŝĨĨΖƐĞƉĂƌƚŵĞŶƚŝŬĞƐĂĨĞƚLJŝƐĂůƐŽŚŝŐŚůŝŐŚƚĞĚĂŶŶƵĂůůLJĂƚ&ƵŶŽŶƚŚĞZƵŶĂŶĚŝŶƚƌŽĚƵĐĞĚĂƚƚŚĞ^ĂŶůĞŵĞŶƚĞWůĂLJƐĐŚŽŽů͘ DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϭ͘Ϭϵ Ϯϱ KEͲ'K/E' ŽŶƐŝĚĞƌĚĞƐŝŐŶĂƚŝŶŐĂůĂǁĞŶĨŽƌĐĞŵĞŶƚ ůŝĂŝƐŽŶŽĨĨŝĐĞƌĨŽƌƚŚĞďŝĐLJĐůĞĂŶĚƉĞĚĞƐƚƌŝĂŶĐŽŵŵƵŶŝƚLJ͘ WƵďůŝĐ^ĂĨĞƚLJ KŶͲŐŽŝŶŐ >ĂǁĞŶĨŽƌĐĞŵĞŶƚƐƚĂĨĨŝŶŐ
ŝƐĐŽŶƐŝĚĞƌĞĚĂŶĚĂĚũƵƐƚĞĚƚŚƌŽƵŐŚƚŚĞĂŶŶƵĂůďƵĚŐĞƚƉƌŽĐĞƐƐ

EXHIBIT B(ATTACHMENT 1)
53 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϭ͘ϭϵͲϮϰ͕DͲϮ͘ϭϭͲϱϰ
ϯ KEͲ'K/E' /ŵƉůĞŵĞŶƚƚŚĞŝĐLJĐůĞĂŶĚWĞĚĞƐƚƌŝĂŶ
DĂƐƚĞƌWůĂŶ͕ŝŶĐůƵĚŝŶŐĐĂŶĚŝĚĂƚĞƉƌŽũĞĐƚƐŝŶƐƵďũĞĐƚƚŽŵŽƌĞĚĞƚĂŝůĞĚĞŶŐŝŶĞĞƌŝŶŐƐƚƵĚŝĞƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ͖ ŽŶƐŝĚĞƌĞĚĂƐƉĂƌƚŽĨĂŶŶƵĂůďƵĚŐĞƚƉƌŽĐĞƐƐ͘/ŵƉůĞŵĞŶƚĞĚĂƐƉĂƌƚŽĨĂŶŶƵĂů/WƉƌŽĐĞƐƐ͘ DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϮ͘ϮϮ͕DͲϮ͘ϰϲ
ϴ KEͲ'K/E' tŽƌŬŝŶŐǁŝƚŚŽƚŚĞƌĂŐĞŶĐŝĞƐ͕ƚŚĞŝƚLJǁŝůů
ƐĞĞŬŐƌĂŶƚƐƚŽŚĞůƉĚĞǀĞůŽƉ͕ŽƉĞƌĂƚĞĂŶĚŵĂŝŶƚĂŝŶĂĐŽŵƉƌĞŚĞŶƐŝǀĞƚƌĂŝůƐLJƐƚĞŵƚŚƌŽƵŐŚ^ĂŶůĞŵĞŶƚĞ͛ƐŽƉĞŶƐƉĂĐĞƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ͖ KŶŐŽŝŶŐĞĨĨŽƌƚǁŝƚŚƌĞŐƵůĂƌŵĂŝŶƚĞŶĂŶĐĞĂŶĚŝŵƉƌŽǀĞŵĞŶƚƐ͘ DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϭ͘ϭϭ ϭϯ KEͲ'K/E' ŽŶƐŝĚĞƌƉƌĞƉĂƌŝŶŐĚĞƚĂŝůĞĚĐŽŶĐĞƉƚƉůĂŶƐ ƚŽĞǀĂůƵĂƚĞĂůƚĞƌŶĂƚĞǀŝƐŝŽŶƐĨŽƌŵĂũŽƌDW,ĐŽƌƌŝĚŽƌƐ͕ĂŶĚĂĚĚƌĞƐƐƚLJƉĞƐŽĨŵƵůƚŝͲŵŽĚĂůŝŵƉƌŽǀĞŵĞŶƚƐƚŚĂƚĐĂŶďĞŝŶĐůƵĚĞĚǁŝƚŚŝŶƚŚĞĐŽŶƐƚƌĂŝŶĞĚƌŝŐŚƚƐͲŽĨͲǁĂLJ;ƵŶůĞƐƐŝƚŝƐĚĞĐŝĚĞĚƚŽĂĐƋƵŝƌĞŵŽƌĞƌŝŐŚƚͲŽĨͲǁĂLJͿĨŽƌǀĂƌŝŽƵƐ ĂůƚĞƌŶĂƚŝǀĞƐ
WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͗^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐͲ
WĂƌƚŽĨ/WƉƌŽũĞĐƚĚĞǀĞůŽƉŵĞŶƚƉƌŽĐĞƐƐ
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϮ͘ϯϵ͕DͲϮ͘ϰϬ͕DͲϮ͘ϰϭ
ϭϱ KEͲ'K/E' /ĚĞŶƚŝĨLJĂŶĚĚĞƐŝŐŶĂƚĞůĂƐƐϮďŝŬĞůĂŶĞƐ
ǁŚĞƌĞĐŽŶƐŝĚĞƌĞĚĂƉƉƌŽƉƌŝĂƚĞĂŶĚƚŚĞƌĞŝƐƐƵĨĨŝĐŝĞŶƚĐƵƌďͲƚŽͲĐƵƌďƐƚƌĞĞƚƉĂǀĞŽƵƚǁŝĚƚŚ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ KŶͲŐŽŝŶŐ͗^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ͗ ĚĚƌĞƐƐĞĚŝŶĂŶŶƵĂů/WƉƌŽĐĞƐƐ͘
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϮ͘ϭϳ͕DͲϮ͘Ϯϱ͕DͲϮ͘Ϯϲ
ϭϲ KEͲ'K/E' /ŶƐƚĂůůǀĞŚŝĐůĞĂĐƚƵĂƚŝŽŶƚŽĚĞƚĞĐƚďŝĐLJĐůĞƐ ;sϮϭϰϱϬ͘ϱͿĂŶĚŝŶƐƚĂůůďŝĐLJĐůĞĚĞƚĞĐƚŽƌƉĂǀĞŵĞŶƚŵĂƌŬŝŶŐƐĂƚƚƌĂĨĨŝĐƐŝŐŶĂůƐƵƐŝŶŐďĞƐƚƉƌĂĐƚŝĐĞƐĂŶĚĂĚŽƉƚĞĚ^ƚĂƚĞŽƌ&ĞĚĞƌĂůƐƚĂŶĚĂƌĚƐǁŚĞŶŝŶƚĞƌƐĞĐƚŝŽŶƐǁŝƚŚƐŝŐŶĂůƐĂƌĞƌĞŚĂďŝůŝƚĂƚĞĚ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ &ƵŶĚŝŶŐ>ŝŵŝƚĂƚŝŽŶƐ͗ ĚĚƌĞƐƐĞĚŝŶĂŶŶƵĂů/WƉƌŽĐĞƐƐǁŚĞŶǁĞŚĂǀĞƐŝŐŶĂůƌĞŚĂďŝůŝƚĂƚŝŽŶƉƌŽũĞĐƚƐ͘

EXHIBIT B(ATTACHMENT 1)
54 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϮ͘Ϯϰ ϭϵ KEͲ'K/E' WĞƌŝŽĚŝĐĂůůLJƌĞǀŝĞǁ;ĨŽƌĞdžĂŵƉůĞ͕ǁŚĞŶƚŚĞ ŝĐLJĐůĞĂŶĚWĞĚĞƐƚƌŝĂŶDĂƐƚĞƌWůĂŶŝƐƵƉĚĂƚĞĚĂŶĚĂƐƉĂƌƚŽĨƚŚĞ>ŽŶŐdĞƌŵ&ŝŶĂŶĐŝĂůWůĂŶƉƌŽĐĞƐƐͿŽĨĨŝĐŝĂůĚĂƚĂďĂƐĞƐŽĨďŝĐLJĐůĞĂŶĚƉĞĚĞƐƚƌŝĂŶĂĐĐŝĚĞŶƚƐ͕ĂŶĂůLJnjĞƚŚĞŝƌĐĂƵƐĞƐĂŶĚůŽĐĂƚŝŽŶƐ͕ĂŶĚƐƚƌŝǀĞƚŽƌĞĚƵĐĞĂĐĐŝĚĞŶƚƐƚŚƌŽƵŐŚŝŶĨƌĂƐƚƌƵĐƚƵƌĞŝŵƉƌŽǀĞŵĞŶƚƐ͕ĐŽŵŵƵŶŝƚLJŽƵƚƌĞĂĐŚĂŶĚĞĚƵĐĂƚŝŽŶĂŶĚůĂǁĞŶĨŽƌĐĞŵĞŶƚĞĨĨŽƌƚƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ͗ ZĞǀŝĞǁƌĞƉŽƌƚƐŽĨĂĐĐŝĚĞŶƚƐ͘
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϮ͘Ϯϭ͕DͲϮ͘ϮϮ
Ϯϭ KEͲ'K/E' /ŶƚĞŐƌĂƚĞǁĂůŬŝŶŐƌŽƵƚĞƐŝŶƚŽŶĞǁ
ŐƌĞĞŶǁĂLJƐĂŶĚŽƉĞŶƐƉĂĐĞĂƌĞĂƐ͕ǁŚĞƌĞ
ĂƉƉƌŽƉƌŝĂƚĞ͕ĂŶĚĞŶĐŽƵƌĂŐĞƚŚĞŵŝŶĞdžŝƐƚŝŶŐŐƌĞĞŶǁĂLJƐĂŶĚŽƉĞŶƐƉĂĐĞĂƌĞĂƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ ^ĐŚĞĚƵůŝŶŐͬdŝŵŝŶŐ͗ /ŵƉƌŽǀĞŵĞŶƚƐƉƵƌƐƵĞĚĂƐŽƉƉŽƌƚƵŶŝƚŝĞƐĂƌŝƐĞ͘
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϮ͘Ϯϭ͕DͲϮ͘Ϯϱ͕DͲϮ͘Ϯϲ͕DͲϮ͘Ϯϴ
Ϯϲ KEͲ'K/E' WƌŽǀŝĚĞƚƌĂŝŶŝŶŐŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌ
ĞŶŐŝŶĞĞƌŝŶŐĂŶĚƉůĂŶŶŝŶŐƐƚĂĨĨŽŶǁĂLJƐƚŽŝŶƚĞŐƌĂƚĞďŝĐLJĐůŝƐƚƐĂŶĚƉĞĚĞƐƚƌŝĂŶƐǁŝƚŚƚŚĞƚƌĂŶƐƉŽƌƚĂƚŝŽŶŶĞƚǁŽƌŬ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶŐŽŝŶŐĂƐƚƌĂŝŶŝŶŐ
ŽƉƉŽƌƚƵŶŝƚŝĞƐͬĐŽƵƌƐĞƐĂƌŝƐĞ͘
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϯ͘Ϭϱ Ϯϳ KEͲ'K/E' WƌŽǀŝĚĞƚƌĂŝŶŝŶŐĂŶĚƉƵďůŝĐŽƵƚƌĞĂĐŚ ŽƉƉŽƌƚƵŶŝƚŝĞƐĂďŽƵƚďŝĐLJĐůŝƐƚƐ͛ĂŶĚƉĞĚĞƐƚƌŝĂŶƐ͛ůĞŐĂůƌŝŐŚƚƐĂŶĚĚƵƚŝĞƐĨŽƌŝƚLJĞŶŐŝŶĞĞƌŝŶŐĂŶĚƉůĂŶŶŝŶŐƐƚĂĨĨ͕ĂƐǁĞůůĂƐĨŽƌůĂǁĞŶĨŽƌĐĞŵĞŶƚŽĨĨŝĐŝĂůƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ KŶͲŐŽŝŶŐďƵƚŶŽƚƐƚĂƌƚĞĚ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϮ͘Ϯϵ Ϯϴ KEͲ'K/E' WƌŽǀŝĚĞĂŶŽƵƚƌĞĂĐŚĂŶĚĞĚƵĐĂƚŝŽŶ
ĐŽŵƉŽŶĞŶƚƚŽĐŽŝŶĐŝĚĞǁŝƚŚƚŚĞĨŝƌƐƚŝŶƐƚĂůůĂƚŝŽŶŽĨĂŶLJŶĞǁƚLJƉĞŽĨďŝĐLJĐůĞ ĨĂĐŝůŝƚLJĂƐƉĂƌƚŽĨƚŚĞŝŵƉůĞŵĞŶƚĂƚŝŽŶŽĨƚŚĞĂƐƐŽĐŝĂƚĞĚĐĂƉŝƚĂůŝŵƉƌŽǀĞŵĞŶƚƉƌŽũĞĐƚ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ͗ KŶŐŽŝŶŐŽŶĂŶĂƐͲƌĞƋƵĞƐƚĞĚďĂƐŝƐ͘

EXHIBIT B(ATTACHMENT 1)
55 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϮ͘ϯϬ͕DͲϮ͘ϯϲ͕DͲϯ͘Ϭϯ
ϯϲ KEͲ'K/E' WƌŽǀŝĚĞĂƐƐŝƐƚĂŶĐĞƚŽƐĐŚŽŽůĚŝƐƚƌŝĐƚƐŝŶ
ĨĂĐŝůŝƚLJƉůĂŶŶŝŶŐĂŶĚƚƌĂŶƐƉŽƌƚĂƚŝŽŶŽƉĞƌĂƚŝŽŶƐƚŽĞŶƐƵƌĞƐĂĨĞƚLJĨŽƌƵƐĞƌƐŽĨĂůůŵŽĚĞƐĚƵƌŝŶŐƐĐŚŽŽůƉŝĐŬͲƵƉ͕ĚƌŽƉͲŽĨĨĂŶĚŽƚŚĞƌƐƉĞĐŝĂůĞǀĞŶƚƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ KŶͲ'ŽŝŶŐ͗
ƌĂŵƉƐĂƌĞŝŶƐƚĂůůĞĚŽƌƵƉŐƌĂĚĞĚǁŚĞŶŝŵƉůĞŵĞŶƚŝŶŐƐƚƌĞĞƚƌĞŚĂďŝůŝƚĂƚŝŽŶƉƌŽũĞĐƚƐ͘WƌŽǀŝĚĞƚƌĂĨĨŝĐĂŶĂůLJƐŝƐĨŽƌŶĞǁŽƌŵŽĚŝĨŝĞĚĨĂĐŝůŝƚŝĞƐ DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϯ͘ϬϮ ϰϬ KEͲ'K/E' ZĞƚƌŽĨŝƚƐƚƌĞĞƚƐĂŶĚƌĞƋƵŝƌĞ
ĚĞǀĞůŽƉŵĞŶƚƐƚŽŝŶƐƚĂůůƉƵďůŝĐŝŵƉƌŽǀĞŵĞŶƚƐƚŚĂƚƉƌŽǀŝĚĞĚŝƐĂďůĞĚĂĐĐĞƐƐĂŶĚŵŽďŝůŝƚLJŽŶƉƵďůŝĐƐƚƌĞĞƚƐ͕ĂƐƌĞƋƵŝƌĞĚďLJ^ƚĂƚĞŽƌ&ĞĚĞƌĂůůĂǁ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ dŚŝƐŝƐĂŶŽŶŐŽŝŶŐĞĨĨŽƌƚǁŝƚŚ
ƌĞŐƵůĂƌŵĂŝŶƚĞŶĂŶĐĞ͘
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϯ͘Ϭϭ͕DͲϯ͘ϬϮ
ϰϭ KEͲ'K/E' tŽƌŬƚŽǁĂƌĚƐĐůŽƐŝŶŐŐĂƉƐŝŶ^ĂŶ
ůĞŵĞŶƚĞ͛ƐƉĞĚĞƐƚƌŝĂŶŶĞƚǁŽƌŬ͘
WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͗
ĚĚƌĞƐƐĞĚǀŝĂĂŶŶƵĂů/WďƵĚŐĞƚƉƌŽĐĞƐƐĂŶĚǁŝƚŚŽŶŐŽŝŶŐƉƌŝǀĂƚĞĚĞǀĞůŽƉŵĞŶƚ͘ EdhZ>Z
^KhZ
^;WZͿ
'ŽĂůϲ ϭϴ KEͲ'K/E' ^ŽůŝĐŝƚƐƚĂƚĞĂŶĚĨĞĚĞƌĂůŐƌĂŶƚƐƚŽ ŝŵƉůĞŵĞŶƚƚŚĞŝƚLJΖƐĞŶĞƌŐLJĐŽŶƐĞƌǀĂƚŝŽŶƉƌŽŐƌĂŵƐĂƐƐƵĐŚĨƵŶĚŝŶŐďĞĐŽŵĞƐĂǀĂŝůĂďůĞ͘ WƵďůŝĐtŽƌŬƐĂŶĚhƚŝůŝƚŝĞƐ
KŶͲŐŽŝŶŐ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐͲ
EdhZ>Z
^KhZ
^;WZͿ
'ŽĂůϲ ϭϴ KEͲ'K/E' ^ŽůŝĐŝƚƐƚĂƚĞĂŶĚĨĞĚĞƌĂůŐƌĂŶƚƐƚŽ ŝŵƉůĞŵĞŶƚƚŚĞŝƚLJΖƐĞŶĞƌŐLJĐŽŶƐĞƌǀĂƚŝŽŶƉƌŽŐƌĂŵƐĂƐƐƵĐŚĨƵŶĚŝŶŐďĞĐŽŵĞƐĂǀĂŝůĂďůĞ͘ WƵďůŝĐtŽƌŬƐĂŶĚhƚŝůŝƚŝĞƐ
KŶͲŐŽŝŶŐ KŶŐŽŝŶŐĂƐŽƉƉŽƌƚƵŶŝƚŝĞƐ
ĂƌŝƐĞ͘
EdhZ>Z
^KhZ
^;EZͿ
EZͲϭ͘Ϭϭ͕EZͲϭ͘ϬϮ͕EZͲϭ͘Ϭϯ
ϭ KEͲ'K/E' /ĚĞŶƚŝĨLJĂŶĚƉƌŽƚĞĐƚƌŝƉĂƌŝĂŶĐŽƌƌŝĚŽƌƐ
ƚŚƌŽƵŐŚnjŽŶŝŶŐ͕ĞĂƐĞŵĞŶƚƐŽƌŽƚŚĞƌŵĞĂƐƵƌĞƐƚŚĂƚĞŶƐƵƌĞĞĨĨĞĐƚŝǀĞ͕ůŽŶŐͲƚĞƌŵĐŽŶƐĞƌǀĂƚŝŽŶ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ tŝůůďĞŝŶĐůƵĚĞĚŝŶŽŶŝŶŐ
ƵƉĚĂƚĞƐĂŶĚ>ŽĐĂůŽĂƐƚĂůWƌŽŐƌĂŵƉƌŽĐĞƐƐ͘

EXHIBIT B(ATTACHMENT 1)
56 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
EdhZ>Z
^KhZ
^;EZͿ
EZͲϭ͘Ϭϭ Ϯ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽƉƌŽǀŝĚĞƉƵďůŝĐĞĚƵĐĂƚŝŽŶ ŵĂƚĞƌŝĂůƐƌĞŐĂƌĚŝŶŐƚŚĞŝƚLJ͛ƐƐĞŶƐŝƚŝǀĞŚĂďŝƚĂƚƐ͕ƚŚĞǀĂůƵĞƐŽĨǁĂƚĞƌƐŚĞĚ͕ďŝŽůŽŐŝĐĂůƌĞƐŽƵƌĐĞƐĂŶĚƐĞŶƐŝƚŝǀĞŚĂďŝƚĂƚƐĂŶĚŚŽǁƚŽƉƌŽƚĞĐƚƚŚĞŵ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ ZĞƐŽƵƌĐĞƐŵĂĚĞ
ĂǀĂŝůĂďůĞǁŚĞŶŶĞĞĚĞĚŽƌƌĞƋƵĞƐƚĞĚ͘
EdhZ>Z
^KhZ
^;EZͿ
EZͲϱ͘Ϭϭ ϭϮ KEͲ'K/E' ZĞǀŝĞǁĚŝƐĐƌĞƚŝŽŶĂƌLJĚĞǀĞůŽƉŵĞŶƚ
ĂƉƉůŝĐĂƚŝŽŶƐƚŽĞŶƐƵƌĞƉƌŽũĞĐƚƐĨŽůůŽǁŵŝƚŝŐĂƚŝŽŶŵĞĂƐƵƌĞƐŽĨƚŚĞ'ĞŶĞƌĂůWůĂŶ ŶǀŝƌŽŶŵĞŶƚĂů/ŵƉĂĐƚZĞƉŽƌƚ͕ŝŶĐůƵĚŝŶŐYDĂŝƌƋƵĂůŝƚLJƌĞƋƵŝƌĞŵĞŶƚƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘ZĞǀŝĞǁĞĚĂŶĚ
ƌĞƋƵŝƌĞĚƚŚƌŽƵŐŚĚŝƐĐƌĞƚŝŽŶĂƌLJƉƌŽũĞĐƚƌĞǀŝĞǁƐƚŚƌŽƵŐŚDd͕ Y͕ĂŶĚĐŽŶĚŝƚŝŽŶƐŽĨĂƉƉƌŽǀĂů͘
EdhZ>Z
^KhZ
^;EZͿ
'ŽĂůϰ ϭϬ KEͲ'K/E' DĂŝŶƚĂŝŶƵƉͲƚŽͲĚĂƚĞŝŶĨŽƌŵĂƚŝŽŶƌĞŐĂƌĚŝŶŐ ƚŚĞůŽĐĂƚŝŽŶŽĨŵŝŶĞƌĂůƌĞƐŽƵƌĐĞnjŽŶĞƐŝŶƚŚĞŝƚLJ͘
WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͗
hƉĚĂƚĞŝŶĨŽƌŵĂƚŝŽŶĂƐŽƉƉŽƌƚƵŶŝƚŝĞƐďĞĐŽŵĞĂǀĂŝůĂďůĞ͘
EdhZ>Z
^KhZ
^;EZͿ
EZͲϭ͘Ϭϲ ϱ KEͲ'K/E' tŽƌŬŝŶŐǁŝƚŚĐŽŵŵƵŶŝƚLJǀŽůƵŶƚĞĞƌƐ͕
ĐŽŶƐĞƌǀĂƚŝŽŶĐůƵďƐ͕LJŽƵƚŚŐƌŽƵƉƐĂŶĚŶŽŶͲƉƌŽĨŝƚĂŐĞŶĐŝĞƐ͕ŚĞůƉƉůĂŶĂŶĚƐƵƉƉŽƌƚĐŽŶƐĞƌǀĂƚŝŽŶĂĐƚŝǀŝƚŝĞƐƐƵĐŚĂƐŚĂďŝƚĂƚƌĞƐƚŽƌĂƚŝŽŶ͕ŝŶƚĞƌƉƌĞƚŝǀĞƐŝŐŶĂŐĞĂŶĚƚŽƵƌƐ͕ƚƌĂŝůďƵŝůĚŝŶŐ͕ĞƌŽƐŝŽŶĐŽŶƚƌŽůĂŶĚůŝƚƚĞƌƌĞŵŽǀĂů͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ ^ƚĂĨĨǁŽƌŬƐǁŝƚŚǀĂƌŝŽƵƐ
ŐƌŽƵƉƐƚŽƉƌŽŵŽƚĞůŝƚƚĞƌƌĞŵŽǀĂůĂŶĚĞƌŽƐŝŽŶĐŽŶƚƌŽů͘/ŶĂĚĚŝƚŝŽŶ͕ƐƚĂĨĨƉƌŽǀŝĚĞƐĞĚƵĐĂƚŝŽŶƚŽŚŝŐŚƐĐŚŽŽů͕ŵŝĚĚůĞĂŶĚĞůĞŵĞŶƚĂƌLJƐĐŚŽŽůƐƚƵĚĞŶƚƐ͘ EdhZ>Z
^KhZ
^;EZͿ
EZͲϱ͘Ϭϯ ϭϯ KEͲ'K/E' /ŵƉůĞŵĞŶƚŐƌĞĞŶŚŽƵƐĞŐĂƐĞŵŝƐƐŝŽŶ
ƌĞĚƵĐƚŝŽŶŵĞĂƐƵƌĞƐŽĨƚŚĞŝƚLJ͛ƐůŝŵĂƚĞĐƚŝŽŶWůĂŶ͘
hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ &ƵŶĚŝŶŐĂŶĚƌĞƐŽƵƌĐĞƐ
ĂƌĞŶĞĞĚĞĚƚŽŝŵƉůĞŵĞŶƚƚŚŝƐƉƌŽŐƌĂŵ͘

EXHIBIT B(ATTACHMENT 1)
57 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
EdhZ>Z
^KhZ
^;EZͿ
'ŽĂůϱ ϭϱ KEͲ'K/E' ZĞǀŝĞǁĂŶĚƵƉĚĂƚĞƚŚĞ^ĂŶůĞŵĞŶƚĞ
DƵŶŝĐŝƉĂůŽĚĞƚŽĨƵƌƚŚĞƌƚŚĞŐŽĂůƐ͕ƉŽůŝĐŝĞƐĂŶĚŵĞĂƐƵƌĞƐŽĨƚŚĞůŝŵĂƚĞĐƚŝŽŶWůĂŶĂŶĚ^ƵƐƚĂŝŶĂďŝůŝƚLJĐƚŝŽŶWůĂŶ͘ ŶĨŽƌĐĞƉƌŽǀŝƐŝŽŶƐĂŶĚĞƐƚĂďůŝƐŚĂĚĚŝƚŝŽŶĂůĞŶĞƌŐLJƉĞƌĨŽƌŵĂŶĐĞƌĞƋƵŝƌĞŵĞŶƚƐŝŶƚŚĞďƵŝůĚŝŶŐĐŽĚĞĂƐŝŶĨŽƌŵĂƚŝŽŶďĞĐŽŵĞƐĂǀĂŝůĂďůĞ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ &ƵŶĚŝŶŐĂŶĚƌĞƐŽƵƌĐĞƐ
ĂƌĞŶĞĞĚĞĚƚŽŝŵƉůĞŵĞŶƚƚŚŝƐƉƌŽŐƌĂŵ͘
EdhZ>Z
^KhZ
^;EZͿ
EZͲϲ͘Ϭϴ ϭϲ KEͲ'K/E' WƌŽŵŽƚĞƉƌŝǀĂƚĞƵƚŝůŝƚLJƉƌŽŐƌĂŵƐĨŽƌ ĞŶĞƌŐLJĂƵĚŝƚƐŽĨĞdžŝƐƚŝŶŐƐƚƌƵĐƚƵƌĞƐĂŶĚƉƵďůŝĐĞĚƵĐĂƚŝŽŶƉƌŽŐƌĂŵƐƚŽƉƌŽŵŽƚĞĞŶĞƌŐLJĐŽŶƐĞƌǀĂƚŝŽŶ͘dŚĞƉƌŽŐƌĂŵƐƐŚŽƵůĚĚĞĨŝŶĞƚŚĞĐƵƌƌĞŶƚůĞǀĞůƐŽĨƵƐĞ͕ĐŽŵƉĂƌĞƚŚĞƐĞƚŽĐƵƌƌĞŶƚƐƚĂŶĚĂƌĚƐĨŽƌƐŝŵŝůĂƌƚLJƉĞƐŽĨƐƚƌƵĐƚƵƌĞƐĂŶĚƉƌĞƐĐƌŝďĞĐŽƌƌĞĐƚŝǀĞŵĞƚŚŽĚƐƚŽŝŵƉƌŽǀĞĐŽŶƐĞƌǀĂƚŝŽŶ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ &ƵŶĚŝŶŐĂŶĚƌĞƐŽƵƌĐĞƐ
ĂƌĞŶĞĞĚĞĚƚŽŝŵƉůĞŵĞŶƚƚŚŝƐƉƌŽŐƌĂŵ͘
EdhZ>Z
^KhZ
^;EZͿ
EZͲϲ͘Ϭϰ Ϯϳ KEͲ'K/E' ŽŶƐŝĚĞƌƉŽƚĞŶƚŝĂůĨŽƌĂĐŚŝĞǀŝŶŐ>


KƉĞƌĂƚŝŽŶƐĂŶĚDĂŝŶƚĞŶĂŶĐĞĐĞƌƚŝĨŝĐĂƚŝŽŶ͕ŽƌƚŚĞĞƋƵŝǀĂůĞŶƚ͕ĨŽƌĂƉƉƌŽƉƌŝĂƚĞŝƚLJĨĂĐŝůŝƚŝĞƐ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ ƐĨĂĐŝůŝƚŝĞƐĂƌĞƌĞƉůĂĐĞĚ
ŽƌƌĞŚĂďŝůŝƚĂƚĞĚ͕>

ĞǀĂůƵĂƚŝŽŶŝƐĐŽŶĚƵĐƚĞĚǁŚĞŶĂƉƉůŝĐĂďůĞ͘&ƵŶĚŝŶŐĂŶĚƌĞƐŽƵƌĐĞƐĂƌĞŶĞĞĚĞĚƚŽĨƵƌƚŚĞƌŝŵƉůĞŵĞŶƚƚŚŝƐƉƌŽŐƌĂŵ͘ EdhZ>Z
^KhZ
^;EZͿ
'ŽĂůϲ Ϯϴ KEͲ'K/E' ŽŶƐŝĚĞƌƉƌŽŐƌĂŵƐƚŚĂƚďĞŶĐŚŵĂƌŬĂŶĚ ƐƵďͲŵĞƚĞƌĂůůŝƚLJĨĂĐŝůŝƚŝĞƐĂŶĚĂƵĚŝƚĞŶĞƌŐLJƵƐĂŐĞ͘
hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ &ƵŶĚŝŶŐĂŶĚƌĞƐŽƵƌĐĞƐ
ĂƌĞŶĞĞĚĞĚƚŽŝŵƉůĞŵĞŶƚƚŚŝƐƉƌŽŐƌĂŵ͘
EdhZ>Z
^KhZ
^;EZͿ
EZͲϲ͘Ϭϳ ϯϬ KEͲ'K/E' ZĞƐĞĂƌĐŚŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌWŽǁĞƌWƵƌĐŚĂƐĞ ŐƌĞĞŵĞŶƚƐ;WWƐͿĂŶĚ^ƵƐƚĂŝŶĂďůĞŽŵŵƵŶŝƚŝĞƐWƌŽŐƌĂŵ;^'Θ ͿĨŽƌƌĞŶĞǁĂďůĞƉŽǁĞƌŽŶŝƚLJĨĂĐŝůŝƚŝĞƐ͘
hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ ŝƚLJǁŝĚĞĞǀĂůƵĂƚŝŽŶŽĨ
ŽŵŵƵŶŝƚLJŚŽŝĐĞ
ŶĞƌŐLJŽƉƚŝŽŶƐŝƐďĞŝŶŐĐŽŶĚƵĐƚĞĚďLJƚŚĞŝƚLJDĂŶĂŐĞƌƐKĨĨŝĐĞ͘

EXHIBIT B(ATTACHMENT 1)
58 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
EdhZ>Z
^KhZ
^;EZͿ
EZͲϲ͘Ϭϴ ϯϭ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽƉƌŽŵŽƚĞĞŶĞƌŐLJĐŽŶƐĞƌǀĂƚŝŽŶ ĂŶĚĞĚƵĐĂƚĞƌĞƐŝĚĞŶƚƐŽŶďĞŶĞĨŝƚƐŽĨĞŶĞƌŐLJĞĨĨŝĐŝĞŶĐLJĂŶĚƐŽůĂƌƉŽǁĞƌŐĞŶĞƌĂƚŝŽŶ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ &ƵŶĚŝŶŐĂŶĚƌĞƐŽƵƌĐĞƐ
ƌĞƋƵŝƌĞĚƚŽŝŵƉůĞŵĞŶƚƚŚŝƐƉƌŽŐƌĂŵ͘
EdhZ>Z
^KhZ
^;EZͿ
EZͲϲ͘Ϭϳ ϯϮ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽƉƌŽŵŽƚĞƵƚŝůŝƚLJƐƉŽŶƐŽƌĞĚ ƉƌŽŐƌĂŵƐĂŶĚƚƌĂŝŶŝŶŐĨŽƌŝƚLJƐƚĂĨĨ͕ůŽĐĂůďƵƐŝŶĞƐƐĞƐĂŶĚƌĞƐŝĚĞŶƚƐ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ DĞƚǁŝƚŚ^'Θ
ĂŶĚ
ĐŽŽƌĚŝŶĂƚĞĚǁŝƚŚƵƚŝůŝƚŝĞƐ͘
EdhZ>Z
^KhZ
^;EZͿ
EZͲϲ͘Ϭϳ ϯϯ KEͲ'K/E' ƉƉƌŽĂĐŚ^'Θ
ĂďŽƵƚĨŽƌŵŝŶŐĂůŽĐĂů
ŐŽǀĞƌŶŵĞŶƚƉĂƌƚŶĞƌƐŚŝƉƚŽĚĞǀĞůŽƉ͕ŽƉĞƌĂƚĞĂŶĚŵĂŝŶƚĂŝŶĞŶĞƌŐLJƌĞƐŽƵƌĐĞƐƵƐŝŶŐƐƵƐƚĂŝŶĂďůĞƉƌĂĐƚŝĐĞƐĂŶĚŵĂƚĞƌŝĂůƐ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ KŶŐŽŝŶŐƉĂƌƚŽĨƌŽƵƚŝŶĞ
ŵĂŝŶƚĞŶĂŶĐĞĂŶĚĐŽŶƐŝĚĞƌĞĚĂƐƉĂƌƚŽĨ/WĚĞƐŝŐŶĂŶĚŝŵƉůĞŵĞŶƚĂƚŝŽŶƉƌŽĐĞƐƐ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϯ͘ϬϮ͕W^&hͲϯ͘Ϭϯ
ϭϱ KEͲ'K/E' ŽůůĂďŽƌĂƚĞǁŝƚŚĂƌƚĂƐƐŽĐŝĂƚŝŽŶƐ͕
ŶŽŶͲƉƌŽĨŝƚƐ͕ďƵƐŝŶĞƐƐĞƐ͕ĞĚƵĐĂƚŝŽŶĂůŝŶƐƚŝƚƵƚŝŽŶƐĂŶĚƚŚĞƉƌŝǀĂƚĞƐĞĐƚŽƌƚŽƉƌŽǀŝĚĞŵŽƌĞŽƉƉŽƌƚƵŶŝƚŝĞƐĂŶĚǀĞŶƵĞƐĨŽƌĐƵůƚƵƌĂůĂƌƚƐƉƌŽŐƌĂŵƐ͕ŝŶĐůƵĚŝŶŐƚŚĞĞƐƚĂďůŝƐŚŵĞŶƚŽĨĂƉĞƌĨŽƌŵŝŶŐĂƌƚƐǀĞŶƵĞŝŶ^ĂŶůĞŵĞŶƚĞ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ /ŶϮϬϮϮ͕ƚŚĞŝƚLJ
ƐƵƉƉŽƌƚĞĚŵƵƌĂůƐ͕ƚŚĞsŝůůĂŐĞƌƚ&ĂŝƌĞ͕ĂŶĚƚŚĞtŽƌůĚ^ƵƌĨ>ĞĂŐƵĞĐŚĂŵƉŝŽŶƐŚŝƉ͘dŚĞŝƚLJŽƵŶĐŝůŵĞŵďĞƌƐĂƉƉŽŝŶƚĞĚƌĞƉƌĞƐĞŶƚĂƚŝǀĞƐƚŽĂŶĞdžƉůŽƌĂƚŽƌLJĂŵƉŚŝƚŚĞĂƚĞƌĐŝƚŝnjĞŶƐĐŽŵŵŝƚƚĞĞ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϭ͘Ϭϰ
Ϯ KEͲ'K/E' ŽŶƚŝŶƵĞĐŽŵŵƵŶŝĐĂƚŝŽŶĂŶĚĐŽŽƉĞƌĂƚŝŽŶ
ĞĨĨŽƌƚƐďĞƚǁĞĞŶŝƚLJŽĨĨŝĐŝĂůƐĂŶĚh^͕ĞƐƉĞĐŝĂůůLJŝŶƚŚĞĂƌĞĂƐŽĨƉŽƉƵůĂƚŝŽŶƉƌŽũĞĐƚŝŽŶƐ͕ƐĂĨĞƚLJĂŶĚƐĞĐƵƌŝƚLJ͕ĐŝƌĐƵůĂƚŝŽŶĂŶĚƉĞĚĞƐƚƌŝĂŶĞůĞŵĞŶƚƐ͕ĚĞǀĞůŽƉŵĞŶƚŽĨƐĐŚŽŽůƐĂŶĚĨƵŶĚŝŶŐƐŽƵƌĐĞƐ͕ĂŶĚŵŽŶŝƚŽƌŝŶŐŽĨĚĞǀĞůŽƉŵĞŶƚĂĐƚŝǀŝƚŝĞƐƚŽƉƌĞǀĞŶƚŽǀĞƌĐƌŽǁĚŝŶŐŽĨƐĐŚŽŽůƐĂŶĚŚĞůƉŵĞĞƚĨƵƚƵƌĞĞĚƵĐĂƚŝŽŶĂůŶĞĞĚƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘,ƵŵĂŶĨĨĂŝƌƐ
ŽŵŵŝƚƚĞĞ͕ĂŶĚWƵďůŝĐtŽƌŬƐʹ^ĂĨĞZŽƵƚĞƐϮ^ĐŚŽŽůƉƌŽŐƌĂŵ

EXHIBIT B(ATTACHMENT 1)
59 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϰ͘Ϭϭ
ϭϴ KEͲ'K/E' ŽŶƚŝŶƵĞĐŽŽƌĚŝŶĂƚŝŽŶĂŵŽŶŐƚŚĞŝƚLJĂŶĚ
ŽƚŚĞƌŚƵŵĂŶƐĞƌǀŝĐĞƐͲƌĞůĂƚĞĚĂŐĞŶĐŝĞƐĂŶĚŝŶƐƚŝƚƵƚŝŽŶƐ͕ďŽƚŚůŽĐĂůůLJĂŶĚƌĞŐŝŽŶĂůůLJ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘WƌŽĐĞƐƐĞĚƚŚƌŽƵŐŚ
ƚŚĞ,ƵŵĂŶĨĨĂŝƌƐŽŵŵŝƚƚĞĞ͘
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϲ͘Ϭϯ͕W^&hͲϲ͘Ϭϰ
ϯϮ KEͲ'K/E' ZĞǀŝĞǁƐƚƌƵĐƚƵƌĞƐŝŶƚĞŶĚĞĚĨŽƌŚƵŵĂŶ
ŽĐĐƵƉĂŶĐLJůŽĐĂƚĞĚŝŶƚŚĞϭϬϬͲLJĞĂƌĨůŽŽĚƉůĂŝŶĨŽƌĐŽŶĨŽƌŵĂŶĐĞǁŝƚŚůŽĐĂů͕^ƚĂƚĞĂŶĚ&ĞĚĞƌĂů;& DͿƌĞƋƵŝƌĞŵĞŶƚƐ͘
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘WƌŽũĞĐƚƐĂƌĞ
ƌĞǀŝĞǁĞĚƚŚƌŽƵŐŚƚŚĞƉĞƌŵŝƚƚŝŶŐƉƌŽĐĞƐƐĨŽƌĐŽŵƉůŝĂŶĐĞǁŝƚŚŐƌĂĚŝŶŐĂŶĚŚĞĂůƚŚĂŶĚƐĂĨĞƚLJďƵŝůĚŝŶŐĐŽĚĞƐ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϯ͘Ϭϰ
ϭϰ KEͲ'K/E' /ŶĐŽƌƉŽƌĂƚĞƵŶŝƋƵĞƉƵďůŝĐĂƌƚŝŶƉƵďůŝĐ
ŝŵƉƌŽǀĞŵĞŶƚƐƐƵĐŚĂƐƐƚƌĞĞƚůŝŐŚƚŝŶŐ͕ƐŝĚĞǁĂůŬƐ͕ǁĂůůƐ͕ďƌŝĚŐĞƐĂŶĚƉƵďůŝĐďƵŝůĚŝŶŐƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘tŽƌŬǁŝƚŚƐƚĂĨĨ
ĨƌŽŵWƵďůŝĐtŽƌŬƐĂŶĚĞĂĐŚĞƐ͕WĂƌŬƐ͕ĂŶĚZĞĐƌĞĂƚŝŽŶƚŽĂĚĚƉƵďůŝĐĂƌƚǁŚĞŶŽƉƉŽƌƚƵŶŝƚŝĞƐĂƌŝƐĞ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϭ͘Ϭϰ
Ϯ KEͲ'K/E' ŽŶƚŝŶƵĞĐŽŵŵƵŶŝĐĂƚŝŽŶĂŶĚĐŽŽƉĞƌĂƚŝŽŶ
ĞĨĨŽƌƚƐďĞƚǁĞĞŶŝƚLJŽĨĨŝĐŝĂůƐĂŶĚh^͕ĞƐƉĞĐŝĂůůLJŝŶƚŚĞĂƌĞĂƐŽĨƉŽƉƵůĂƚŝŽŶƉƌŽũĞĐƚŝŽŶƐ͕ƐĂĨĞƚLJĂŶĚƐĞĐƵƌŝƚLJ͕ĐŝƌĐƵůĂƚŝŽŶĂŶĚƉĞĚĞƐƚƌŝĂŶĞůĞŵĞŶƚƐ͕ĚĞǀĞůŽƉŵĞŶƚŽĨƐĐŚŽŽůƐĂŶĚĨƵŶĚŝŶŐƐŽƵƌĐĞƐ͕ĂŶĚŵŽŶŝƚŽƌŝŶŐŽĨĚĞǀĞůŽƉŵĞŶƚĂĐƚŝǀŝƚŝĞƐƚŽƉƌĞǀĞŶƚŽǀĞƌĐƌŽǁĚŝŶŐŽĨƐĐŚŽŽůƐĂŶĚŚĞůƉŵĞĞƚĨƵƚƵƌĞĞĚƵĐĂƚŝŽŶĂůŶĞĞĚƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚͬWƵďůŝĐtŽƌŬƐ
KŶͲŐŽŝŶŐ KŶͲ'ŽŝŶŐ͗
WƵďůŝĐ^ĂĨĞƚLJŽŵŵŝƚƚĞĞĂŶĚWƵďůŝĐtŽƌŬƐʹ^ĂĨĞZŽƵƚĞƐϮ^ĐŚŽŽůƉƌŽŐƌĂŵ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^
;W^&hͿ
W^&hͲϲ͘Ϭϭ
ϯϬ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽƉƌĞƉĂƌĞϱͲLJĞĂƌĂƉŝƚĂů
/ŵƉƌŽǀĞŵĞŶƚWƌŽŐƌĂŵƐĨŽƌƚŚĞŝƚLJ͛ƐƐƚŽƌŵĚƌĂŝŶĂŐĞƐLJƐƚĞŵ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ

EXHIBIT B(ATTACHMENT 1)
60 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϵ͘Ϭϯ
ϰϬ KEͲ'K/E' hƉŐƌĂĚĞŝƚLJĨĂĐŝůŝƚŝĞƐďLJŝŶƐƚĂůůŝŶŐ
ĞŶĞƌŐLJͲĞĨĨŝĐŝĞŶƚůŝŐŚƚŝŶŐǁŚĞƌĞĨĞĂƐŝďůĞ͕ƵƉŐƌĂĚŝŶŐŝƚLJĨĂĐŝůŝƚŝĞƐǁŝƚŚ ŶĞƌŐLJ^ƚĂƌŽƌĞƋƵŝǀĂůĞŶƚĨĂĐŝůŝƚŝĞƐ͕ƵƉĚĂƚŝŶŐ,sƐLJƐƚĞŵƐĂŶĚĞƐƚĂďůŝƐŚŝŶŐƐŚƵƚͲŽĨĨƚŝŵĞƐ͕ŽĐĐƵƉĂŶĐLJͲƐĞŶƐŝŶŐůŝŐŚƚŝŶŐĐŽŶƚƌŽůƐ͕ƉƌŽŐƌĂŵŵĂďůĞƚŚĞƌŵŽƐƚĂƚƐĂŶĚǀĂƌŝĂďůĞ ƐƉĞĞĚĚƌŝǀĞŵŽƚŽƌƐŝŶŝƚLJǁĂƚĞƌĂŶĚƐĞǁĞƌƉƵŵƉŝŶŐƐƚĂƚŝŽŶƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ &ƵŶĚŝŶŐ>ŝŵŝƚĂƚŝŽŶƐ͗ ZĞǀŝĞǁĐŝƚLJƉƌŽũĞĐƚƐĂƐƚŚĞLJŽĐĐƵƌĨŽƌƵƉŐƌĂĚĞƐ͘
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^
;W^&hͿ
W^&hͲϵ͘Ϭϯ
ϰϮ KEͲ'K/E' tŚĞƌĞĂƉƉƌŽƉƌŝĂƚĞĂŶĚĨĞĂƐŝďůĞ͕ŝŶƐƚĂůů
ƐŽůĂƌͲƉŽǁĞƌĞĚƐƚƌĞĞƚƌĂĚĂƌƐŝŐŶƐ͘
WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ &ƵŶĚŝŶŐ>ŝŵŝƚĂƚŝŽŶƐͲ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^
;W^&hͿ
W^&hͲϵ͘Ϭϵ
ϰϱ KEͲ'K/E' WƵƌƐƵĞŐƌĂŶƚĨƵŶĚŝŶŐĂŶĚŽƚŚĞƌĨŝŶĂŶĐŝĂů
ƌĞƐŽƵƌĐĞƐƚŽŽĨĨƐĞƚƚŚĞƉƵďůŝĐĐŽƐƚŽĨĞŶĞƌŐLJƌĞƚƌŽĨŝƚƐƚŽĞdžŝƐƚŝŶŐŝƚLJĨĂĐŝůŝƚŝĞƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐͲ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϴ͘Ϭϱ
ϯϳ KEͲ'K/E' ŽŶƚŝŶƵĞƵƐŝŶŐƌƵďďĞƌŝnjĞĚĂƐƉŚĂůƚĂŶĚ
ƌĞĐLJĐůĞĚĂŐŐƌĞŐĂƚĞĨŽƌŝƚLJƐƚƌĞĞƚƉƌŽũĞĐƚƐ͕
ĂƐĂƉƉƌŽƉƌŝĂƚĞ͘
WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ  KŶͲ'ŽŝŶŐ͗
tŚĞƌĞĂƉƉƌŽƉƌŝĂƚĞ͕ŝƚLJƵƐĞƐƌƵďďĞƌŝnjĞĚĂƐƉŚĂůƚĨŽƌƐƚƌĞĞƚƌĞŚĂďŝůŝƚĂƚŝŽŶƉƌŽũĞĐƚƐ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲ'ŽĂůϱ
Ϯϭ KEͲ'K/E' ^ƚƵĚLJĨĞĂƐŝďŝůŝƚLJĂŶĚĞĨĨĞĐƚŝǀĞŶĞƐƐŽĨŶĞǁ ƚĞĐŚŶŽůŽŐŝĞƐƚŽƌĞĚƵĐĞƚŚĞƵƐĞŽĨĐŚĞŵŝĐĂůƐĂƚƚŚĞǁĂƚĞƌƚƌĞĂƚŵĞŶƚƉůĂŶƚ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ dŚŝƐŝƐĂŶŽŶŐŽŝŶŐ
ĂĐƚŝǀŝƚLJ͕ĂƐƚƵĚLJďLJdƌƵƐƐĞůů
ŶŐŝŶĞĞƌƐǁŝůůďĞĐŽŵƉůĞƚĞĚŝŶ&zϮϬϮϭ͘ĂƐĞĚŽŶƚŚĞƐƚƵĚLJĂŶĚƐƚĂĨĨƌĞǀŝĞǁŽĨƉƌŽĐĞƐƐĞƐ͕ƚŚĞƌĞŚĂǀĞďĞĞŶƌĞĚƵĐƚŝŽŶƐŝŶ&ĞƌƌŝĐĂŶĚ^ŽĚŝƵŵ,LJƉŽĐŚůŽƌŝƚĞƵƐĞĨŽƌƚƌĞĂƚŵĞŶƚ͘

EXHIBIT B(ATTACHMENT 1)
61 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϱ͘Ϭϴ
Ϯϯ KEͲ'K/E'
džƉĂŶĚůŽĐĂůǁĂƚĞƌƌĞĐLJĐůŝŶŐĐĂƉĂďŝůŝƚŝĞƐ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ WĂƌƚŝĐŝƉĂƚŝŶŐŝŶƌĞŐŝŽŶĂů ƐƚƵĚLJĂŶĚĚĞƐŝŐŶŝŶŐĞdžƉĂŶƐŝŽŶŽĨƚŚĞƐLJƐƚĞŵ͘
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϱ͘Ϭϱ
Ϯϰ KEͲ'K/E'
džƉůŽƌĞƚŚĞĨĞĂƐŝďŝůŝƚLJŽĨĚĞƐĂůŝŶŝnjĂƚŝŽŶĂŶĚ
ŽƚŚĞƌƌĞŐŝŽŶĂůƉƌŽũĞĐƚƐĂƐĂŶĂůƚĞƌŶĂƚŝǀĞƌĞƐŽƵƌĐĞƚŽƌĞĚƵĐĞƚŚĞŝƚLJ͛ƐĚĞƉĞŶĚĞŶĐLJŽŶŝŵƉŽƌƚĞĚǁĂƚĞƌ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ WůĂŶŝƐƵƉĚĂƚĞĚĂƐ
ŶĞĞĚĞĚ͘^ŽƵƚŚŽĂƐƚtĂƚĞƌŝƐƚƌŝĐƚŝƐƉƌŽƉŽƐŝŶŐĂϱD'ĚĞƐĂůŝŶĂƚŝŽŶƉůĂŶƚĂƚŽŚĞŶLJĞĂĐŚĂŶĚŝƐůŽŽŬŝŶŐĨŽƌƉĂƌƚŝĐŝƉĂŶƚƐ͘ ^ŽƵƚŚŽĂƐƚtĂƚĞƌŝƐƚƌŝĐƚŚĂƐĨŝŶĂůŝnjĞĚĂƐƚƵĚLJĂŶĚŝƐƐĞĞŬŝŶŐƉĂƌƚŝĐŝƉĂŶƚƐ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϱ͘Ϭϲ
Ϯϱ KEͲ'K/E' DĂŝŶƚĂŝŶĂŶĚƵƉĚĂƚĞƚŚĞŝƚLJ͛ƐhƌďĂŶ
tĂƚĞƌDĂŶĂŐĞŵĞŶƚWůĂŶ͕ĂƐŶĞĞĚĞĚ͕ĂŶĚŝŵƉůĞŵĞŶƚĂŶĚĞŶĨŽƌĐĞƚŚĞǁĂƚĞƌĐŽŶƐĞƌǀĂƚŝŽŶŽƌĚŝŶĂŶĐĞ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ hƌďĂŶtĂƚĞƌ
DĂŶĂŐĞŵĞŶƚWůĂŶŝƐƵƉĚĂƚĞĚĞǀĞƌLJĨŝǀĞLJĞĂƌƐ;ƌĞƋƵŝƌĞĚŝŶϮϬϮϭͿ͘KƵƚƌĞĂĐŚŝƐĐŽŵƉůĞƚĞĚĂƐƉĂƌƚŽĨƚŚĞŝƚLJ͛ƐtĂƚĞƌŽŶƐĞƌǀĂƚŝŽŶWƌŽŐƌĂŵ͘ϮϬϮϭhƌďĂŶtĂƚĞƌDĂƐƚĞƌWůĂŶǁĂƐĐŽŵƉůĞƚĞĚ͘ dŚĞƉůĂŶǁĂƐĐŽŵƉůĞƚĞĚĂŶĚƉƌĞƐĞŶƚĞĚƚŽƚŚĞŝƚLJŽƵŶĐŝůƚŚƌŽƵŐŚĂƉƵďůŝĐŚĞĂƌŝŶŐƉƌŽĐĞƐƐ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^
;W^&hͿ
W^&hͲϱ͘Ϭϵ
Ϯϳ KEͲ'K/E' ŽŵƉůĞƚĞǁĂƚĞƌĞĨĨŝĐŝĞŶĐLJƵƐĞƐƵƌǀĞLJƐŽĨ
ĂůůŝƚLJĨĂĐŝůŝƚŝĞƐ͘
hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ KŶŐŽŝŶŐĂĐƚŝǀŝƚLJ
ĂĚŵŝŶŝƐƚĞƌĞĚďLJhƚŝůŝƚŝĞƐĂŶĚWƵďůŝĐtŽƌŬƐDĂŝŶƚĞŶĂŶĐĞ
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϱ͘Ϭϳ
Ϯϴ KEͲ'K/E' ŽŶƚŝŶƵĞƉƌŽǀŝĚŝŶŐĞĚƵĐĂƚŝŽŶĂŶĚ
ĐŽŵŵƵŶŝƚLJŽƵƚƌĞĂĐŚŽŶǁĂƚĞƌĐŽŶƐĞƌǀĂƚŝŽŶŽƉƚŝŽŶƐĂŶĚŵĞƚŚŽĚƐ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ WĂƌƚŽĨƌĞŐƵůĂƌ
ŽƉĞƌĂƚŝŽŶƐ͘

EXHIBIT B(ATTACHMENT 1)
62 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϲ͘Ϭϳ
ϯϭ KEͲ'K/E' ZĞǀŝĞǁĂŶĚĂŵĞŶĚĂƐŶĞĐĞƐƐĂƌLJĂŶĚ
ĂƉƉƌŽƉƌŝĂƚĞ͕ĚƌĂŝŶĂŐĞŝŵƉĂĐƚĨĞĞƐĐŽůůĞĐƚĞĚĨƌŽŵŶĞǁĚĞǀĞůŽƉŵĞŶƚĨŽƌƚŚĞĐŽŶƐƚƌƵĐƚŝŽŶŽĨŶĞǁĚƌĂŝŶĂŐĞĨĂĐŝůŝƚŝĞƐŶĞĐĞƐƐŝƚĂƚĞĚďLJƚŚĞŶĞǁĚĞǀĞůŽƉŵĞŶƚ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ ŽŶƐŝĚĞƌĨĞĞĂĚũƵƐƚŵĞŶƚ
ĨŽůůŽǁŝŶŐƚŚĞĐŽŵƉůĞƚŝŽŶŽĨƌĂŝŶĂŐĞDĂƐƚĞƌWůĂŶ͘
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϳ͘Ϭϭ
ϯϯ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽŝŵƉůĞŵĞŶƚƚŚĞůĞĂŶKĐĞĂŶ
WƌŽŐƌĂŵĂŶĚ^ƚŽƌŵǁĂƚĞƌ>ŽĐĂů/ŵƉůĞŵĞŶƚĂƚŝŽŶWůĂŶƚŽƉƌŽƚĞĐƚůŽĐĂůƐƵƌĨĂĐĞǁĂƚĞƌƋƵĂůŝƚLJĂŶĚŵĞĞƚŽƌĞdžĐĞĞĚĂƉƉůŝĐĂďůĞƌĞŐŝŽŶĂů͕ƐƚĂƚĞĂŶĚĨĞĚĞƌĂůƌĞƋƵŝƌĞŵĞŶƚƐ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ ^ƚĂĨĨĞŶĨŽƌĐŝŶŐǁĂƚĞƌ
ƋƵĂůŝƚLJƌƵŶͲŽĨĨƐƚĂŶĚĂƌĚƐ͘ůĞĂŶKĐĞĂŶWƌŽŐƌĂŵƐƵŶƐĞƚĞĚŝŶ:ƵŶĞϮϬϮϬ͘&ĞĞƌĞŶĞǁĂůǀŽƚĞĂŶƚŝĐŝƉĂƚĞĚŝŶϮϬϮϮ͘ ZĂƚĞĂŶĂůLJƐŝƐĂůŽŶŐǁŝƚŚƉƌŽŐƌĂŵŶĞĞĚƐŝƐƵŶĚĞƌĞǀĂůƵĂƚŝŽŶ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^
;W^&hͿ
W^&hͲϴ͘ϭϬ
ϯϴ KEͲ'K/E' ĐŚŝĞǀĞƐƚĂƚĞƐŽůŝĚǁĂƐƚĞƌĞƋƵŝƌĞŵĞŶƚƐ
ŝŶĐůƵĚŝŶŐďƵƚŶŽƚůŝŵŝƚĞĚƚŽĂŵŝŶŝŵƵŵĐŽŶƐƚƌƵĐƚŝŽŶĂŶĚĚĞŵŽůŝƚŝŽŶǁĂƐƚĞĚŝǀĞƌƐŝŽŶƌĞƋƵŝƌĞŵĞŶƚŽĨϳϱƉĞƌĐĞŶƚ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ hƉŐƌĂĚĞƐĐŽŵƉůĞƚĞĚŝŶ
ϮϬϭϲĂŶĚŽŶĂŶŽŶŐŽŝŶŐďĂƐŝƐ͘
^&
dz;^Ϳ ^Ͳϯ͘Ϭϯ ϳ KEͲ'K/E' WĂƌƚŶĞƌǁŝƚŚKƌĂŶŐĞŽƵŶƚLJ&ŝƌĞƵƚŚŽƌŝƚLJ ƚŽƉƵƌƐƵĞŐƌĂŶƚĂŶĚŽƚŚĞƌĨƵŶĚŝŶŐŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌĂƉƉƌŽƉƌŝĂƚĞ&ŝƌĞĂŶĚ

ŵĞƌŐĞŶĐLJDĞĚŝĐĂů^ĞƌǀŝĐĞƐŵĞĂƐƵƌĞƐ͕ƐƚĂĨĨŝŶŐ͕ĂŶĚĨĂĐŝůŝƚŝĞƐ͕ĂŶĚƚŽƐƵƉƉŽƌƚǁŝůĚĨŝƌĞŵŝƚŝŐĂƚŝŽŶĞĨĨŽƌƚƐŝŶƚŚĞŝƚLJĂŶĚŝŶƐƵƌƌŽƵŶĚŝŶŐŽƉĞŶƐƉĂĐĞĂƌĞĂƐƐƵĐŚĂƐƚŚĞZŝĐŚĂƌĚĂŶĚŽŶŶĂK͛EĞŝůůŽŶƐĞƌǀĂŶĐLJĂŶĚ^ĂŶKŶŽĨƌĞ^ƚĂƚĞĞĂĐŚ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐǁŝƚŚŝƚLJƐƚĂĨĨ
ĂŶĚK&͘
^&
dz;^Ϳ ^Ͳϳ͘Ϭϰ ϮϬ KEͲ'K/E' /ŶĨŽƌŵĂƚŝŽŶdĞĐŚŶŽůŽŐLJƐƚĂĨĨǁŝůů ƉĞƌŝŽĚŝĐĂůůLJƌĞǀŝĞǁĂŶĚƵƉĚĂƚĞĂŶĞŵĞƌŐĞŶĐLJƉƌĞƉĂƌĞĚŶĞƐƐĂŶĚƌĞƐƉŽŶƐĞƉůĂŶŝŶƚŽŽǀĞƌĂůůŝƚLJ ŵĞƌŐĞŶĐLJZĞƐƉŽŶƐĞWůĂŶ͘
ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ dŚĞŝƚLJ͛Ɛ
ŵĞƌŐĞŶĐLJ
WůĂŶŶŝŶŐǁĞďƉĂŐĞĐŽŶƚŝŶƵĞƐƚŽďĞƵƉĚĂƚĞĚƌĞŐƵůĂƌůLJĂŶĚŝŶĐůƵĚĞƐŽǀŝĚͲϭϵƵƉĚĂƚĞƐ͘

EXHIBIT B(ATTACHMENT 1)
63 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
^&
dz;^Ϳ ^Ͳϳ͘Ϭϭ Ϯϰ KEͲ'K/E' ^ƵƉƉŽƌƚĂŶĚŵĂŝŶƚĂŝŶĂŶĐƚŝǀĞŵďƵůĂŶĐĞ ^ƵďƐĐƌŝƉƚŝŽŶ^ĞƌǀŝĐĞ͘
ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ /ŵƉůĞŵĞŶƚĞĚĂŶĚŽŶͲ
ŐŽŝŶŐ͘
^&
dz;^Ϳ ^Ͳϭ͘ϬϮ Ϯ KEͲ'K/E' ZĞǀŝĞǁĂŶĚƵƉĚĂƚĞďƵŝůĚŝŶŐ͕njŽŶŝŶŐ͕ĂŶĚ ŐƌĂĚŝŶŐĐŽĚĞƐƚŽĞŶƐƵƌĞĂĚŽƉƚĞĚƐƚĂŶĚĂƌĚƐĂƌĞĂƉƉƌŽƉƌŝĂƚĞƚŽŵŝƚŝŐĂƚĞƉŽƚĞŶƚŝĂůŐĞŽůŽŐŝĐ͕ƐĞŝƐŵŝĐ͕ƐŽŝůƐ͕ĨůŽŽĚŝŶŐ͕ĂŶĚŶŽŝƐĞŚĂnjĂƌĚƐ͕ĂŶĚǁŽƵůĚĐŽŵƉůLJǁŝƚŚƚŚĞůƋƵŝƐƚͲWƌŝŽůŽĐƚŝĨĂŶĂĐƚŝǀĞĨĂƵůƚǁĞƌĞŝĚĞŶƚŝĨŝĞĚŝŶƚŚĞŝƚLJ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘WƌŽũĞĐƚƐĂƌĞ
ƌĞǀŝĞǁĞĚƚŚƌŽƵŐŚƚŚĞƉĞƌŵŝƚƚŝŶŐƉƌŽĐĞƐƐĨŽƌĐŽŵƉůŝĂŶĐĞǁŝƚŚŐƌĂĚŝŶŐĂŶĚŚĞĂůƚŚĂŶĚƐĂĨĞƚLJďƵŝůĚŝŶŐĐŽĚĞƐ͘ ^&
dz;^Ϳ ^Ͳϭ͘Ϭϯ ϯ KEͲ'K/E'
ŶĐŽƵƌĂŐĞƉƵďůŝĐĂŶĚƉƌŝǀĂƚĞĞŶƚŝƚŝĞƐƚŽ
ĞŶƐƵƌĞƚŚĂƚďƵŝůĚŝŶŐƐŚŽƵƐŝŶŐĐƌŝƚŝĐĂůƉƵďůŝĐĨĂĐŝůŝƚŝĞƐ͕ƐƵĐŚĂƐƐĐŚŽŽůƐ͕ŚŽƐƉŝƚĂůƐĂŶĚĞŵĞƌŐĞŶĐLJƐĞƌǀŝĐĞƐ͕ĂƌĞƐĞŝƐŵŝĐĂůůLJƐƚƌĞŶŐƚŚĞŶĞĚƚŽŵĞĞƚĂƉƉůŝĐĂďůĞďƵŝůĚŝŶŐĐŽĚĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘WƌŽũĞĐƚƐĂƌĞ
ƌĞǀŝĞǁĞĚƚŚƌŽƵŐŚƚŚĞƉĞƌŵŝƚƚŝŶŐƉƌŽĐĞƐƐĨŽƌĐŽŵƉůŝĂŶĐĞǁŝƚŚŐƌĂĚŝŶŐĂŶĚŚĞĂůƚŚĂŶĚƐĂĨĞƚLJďƵŝůĚŝŶŐĐŽĚĞƐ͘ ^&
dz;^Ϳ ^Ͳϯ͘ϬϮ ϲ KEͲ'K/E' KďƚĂŝŶĂŶĚŵĂŝŶƚĂŝŶŝŶĨŽƌŵĂƚŝŽŶŽŶĨŝƌĞ ĂŶĚǁŝůĚĨŝƌĞŚĂnjĂƌĚƐĂŶĚŚŽŵĞ͕ďƵƐŝŶĞƐƐ͕ĂŶĚŽƉĞŶƐƉĂĐĞĨŝƌĞŵŝƚŝŐĂƚŝŽŶŵĞĂƐƵƌĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘
^&
dz;^Ϳ ^Ͳϰ͘Ϭϭ ϴ KEͲ'K/E' ZĞǀŝĞǁƚŚĞ
džŝƐƚŝŶŐĂŶĚ&ƵƚƵƌĞEŽŝƐĞ
ŽŶƚŽƵƌDĂƉƐĂŶĚEŽŝƐĞKƌĚŝŶĂŶĐĞĨŽƌĂƉƉůŝĐĂďŝůŝƚLJƚŽĞĂĐŚĚĞǀĞůŽƉŵĞŶƚƉƌŽũĞĐƚƚŽŝĚĞŶƚŝĨLJƉŽƚĞŶƚŝĂůŝŵƉĂĐƚƐƚŽƐĞŶƐŝƚŝǀĞƵƐĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ ZĞǀŝĞǁĞĚĚƵƌŝŶŐDd
ƉƌŽĐĞƐƐ͕ǁŚĞŶĂƉƉůŝĐĂďůĞ͘
^&
dz;^Ϳ ^Ͳϰ͘Ϭϰ ϭϬ KEͲ'K/E' tŽƌŬŝŶŐǁŝƚŚŽƚŚĞƌĂŐĞŶĐŝĞƐĂŶĚƉƌŽƉĞƌƚLJ ŽǁŶĞƌƐ͕ƚŚĞŝƚLJǁŝůůƐĞĞŬƚŽƌĞͲĞƐƚĂďůŝƐŚŽĐĞĂŶǀŝĞǁƐďůŽĐŬĞĚďLJŶŽŝƐĞďĂƌƌŝĞƌƐ͕ǁŚĞƌĞĨĞĂƐŝďůĞ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘

EXHIBIT B(ATTACHMENT 1)
64 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
^&
dz;^Ϳ ϭϮ KEͲ'K/E' ƐƉĂƌƚŽĨĂůĂƌŐĞƌƌĞŐŝŽŶĂůĞĨĨŽƌƚ͕ŝŵƉƌŽǀĞ ƐĂĨĞƚLJŝŶƚŚĞYƵŝĞƚŽŶĞďLJƵƐŝŶŐƚĂƌŐĞƚĞĚĂŶĚĚŝƌĞĐƚĞĚŵĞĂƐƵƌĞƐƚŽƌĞĚƵĐĞŶŽŝƐĞƚŽǁŝƚŚŝŶĂĐĐĞƉƚĂďůĞ'ĞŶĞƌĂůWůĂŶůĞǀĞůƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘YƵŝĞƚŽŶĞƐĂĨĞƚLJ
ŵĞĂƐƵƌĞƐĂŶĚƉĞƌŵŝƚƚŝŶŐƉƵƌƐƵĞĚǁŝƚŚWƵďůŝĐtŽƌŬƐĂŶĚŽƚŚĞƌĂŐĞŶĐŝĞƐĂƐĚŝƌĞĐƚĞĚďLJŽƵŶĐŝů͘ ^&
dz;^Ϳ ^Ͳϳ͘ϬϮ ϭϵď KEͲ'K/E' WƵƌƐƵĞĞŵĞƌŐĞŶĐLJƐĞƌǀŝĐĞƐŐƌĂŶƚƐĂŶĚ ŽƚŚĞƌĨƵŶĚŝŶŐŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌDĂƌŝŶĞ^ĂĨĞƚLJƐƚĂĨĨŝŶŐ͕ĨĂĐŝůŝƚŝĞƐ͕ƚƌĂŝŶŝŶŐ͕ĂŶĚƉƌŽŐƌĂŵƐ͘ WƵďůŝĐ^ĂĨĞƚLJ KŶͲŐŽŝŶŐ &zϮϬϮϮƉƵƌƐƵĞĚĂŶĚ
ŽďƚĂŝŶĞĚŽǀĞƌΨϭϴ͕ϬϬϬŝŶŐƌĂŶƚƐĂŶĚĨƵŶĚŝŶŐĨŽƌƚƌĂŝŶŝŶŐĨŽƌƚŚĞůŝĨĞŐƵĂƌĚƐĂŶĚ:ƵŶŝŽƌ>ŝĨĞŐƵĂƌĚƉƌŽŐƌĂŵƐ͘'ƌĂŶƚƐĂŶĚĨƵŶĚŝŶŐŚĂǀĞďĞĞŶƌĞĐĞŝǀĞĚĨƌŽŵƚŚĞ^ĂŶůĞŵĞŶƚĞKĐĞĂŶ&ĞƐƚŝǀĂů;ΨϮ͕ϬϬϬͿ͕ƚŚĞ^ĂŶůĞŵĞŶƚĞ>ŝĨĞŐƵĂƌĚĂŶĚ:ƵŶŝŽƌ>ŝĨĞŐƵĂƌĚ&ŽƵŶĚĂƚŝŽŶ;ΨϭϬ͕ϱϮϱͿ͕^ĂŶůĞŵĞŶƚĞtŽŵĞŶ͛ƐůƵď;ΨϯϴϬϬͿĂŶĚZĂŶĐŚŽ^ĂŶƚŝĂŐŽŽůůĞŐĞ;ΨϭϵϬϬͿ͘dŚĞƐĞĂƌĞĂŶŶƵĂůŐƌĂŶƚƐĂŶĚĨƵŶĚŝŶŐŽƉƉŽƌƚƵŶŝƚŝĞƐǁŚŝĐŚǁŝůůďĞƉƵƌƐƵĞĚĂŐĂŝŶŝŶ&zϮϬϮϯ͘ ^&
dz;^Ϳ ^Ͳϭ͘Ϭϭ ϭ KEͲ'K/E' tŚĞŶĨĞĂƐŝďůĞ͕ŵĂŬĞŝŶĨŽƌŵĂƚŝŽŶŽŶĨĂƵůƚ ůŽĐĂƚŝŽŶƐ͕ƐŽŝůŚĂnjĂƌĚƐĂŶĚĂƌĞĂƐŽĨůĂŶĚƐůŝĚĞŽƌůŝƋƵĞĨĂĐƚŝŽŶƉƵďůŝĐůLJĂǀĂŝůĂďůĞ͕ŽŶƌĞƋƵĞƐƚ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ

EXHIBIT B(ATTACHMENT 1)
65 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
^&
dz;^Ϳ ^ͲϮ͘Ϭϰ͕^Ͳ
Ϯ͘Ϭϱ͕^ͲϮ͘Ϭϲ
ϰ KEͲ'K/E' ZĞǀŝĞǁĂŶĚƵƉĚĂƚĞĚƌĂŝŶĂŐĞĂŶĚǁĂƚĞƌ
ƌĞƚĞŶƚŝŽŶƐƚƵĚŝĞƐĂŶĚŝŵƉƌŽǀĞŵĞŶƚƉůĂŶƐƚŽŝŶĐŽƌƉŽƌĂƚĞĂƉƉƌŽƉƌŝĂƚĞďĞƐƚƉƌĂĐƚŝĐĞƐĂŶĚ&ĞĚĞƌĂů͕^ƚĂƚĞ͕ĂŶĚŽƵŶƚLJĨůŽŽĚĐŽŶƚƌŽůƌĞŐƵůĂƚŝŽŶƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ  KŶͲŐŽŝŶŐ͗
ZĞǀŝĞǁŝŶŐĂŶĚƵƉĚĂƚŝŶŐĚƌĂŝŶĂŐĞĂŶĚǁĂƚĞƌƌĞƚĞŶƚŝŽŶƐƚƵĚŝĞƐĂŶĚŝŵƉƌŽǀĞŵĞŶƚƉůĂŶƐ͘ ^&
dz;^Ϳ ^Ͳϰ͘ϬϮͲϬϯ ϵ KEͲ'K/E' tŽƌŬǁŝƚŚůŽĐĂů͕^ƚĂƚĞĂŶĚ&ĞĚĞƌĂůĂŐĞŶĐŝĞƐ ƚŽƌĞĚƵĐĞŚŝŐŚǁĂLJͲŐĞŶĞƌĂƚĞĚŶŽŝƐĞůĞǀĞůƐƚŽǁŝƚŚŝŶĂĐĐĞƉƚĂďůĞ'ĞŶĞƌĂůWůĂŶůĞǀĞůƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͗
KŶͲŐŽŝŶŐƌĞƋƵĞƐƚŽĨĂůůĂůdƌĂŶƐƉƌŽũĞĐƚƐ͘
^&
dz;^Ϳ ^Ͳϰ͘Ϭϲ ϭϭ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽƵƐĞĂƉƌŽŐƌĂŵŽĨƚƌƵĐŬ ƉƌŽŚŝďŝƚŝŽŶƐ͕ŝŶĐůƵĚŝŶŐĂƉƉƌŽƉƌŝĂƚĞƐŝŐŶĂŐĞ͕ƚŽŵŝŶŝŵŝnjĞƚƌƵĐŬƚƌĂĨĨŝĐŶŽŝƐĞŝŵƉĂĐƚƐƚŽ ƐĞŶƐŝƚŝǀĞůĂŶĚƵƐĞƐ͘
WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ  KŶͲŐŽŝŶŐ
^&
dz;^Ϳ ^Ͳϱ͘Ϭϭ ϭϰ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽĐŽůůĞĐƚĂŶĚĚŝƐƐĞŵŝŶĂƚĞ ŝŶĨŽƌŵĂƚŝŽŶƌĞůĂƚŝŶŐƚŽĂůůŚĂnjĂƌĚƐ͕ĂƐǁĞůůĂƐƚŽƌĂĚŝŽůŽŐŝĐĂůŚĂnjĂƌĚƐƉƌĞƉĂƌĞĚŶĞƐƐ͕ƌĞƐƉŽŶƐĞ͕ĂŶĚƌĞĐŽǀĞƌLJĨŽƌ^KE'^͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͗
KĐĐƵƌƐǀŝĂĞŵĞƌŐĞŶĐLJƉůĂŶŶŝŶŐĞĨĨŽƌƚƐ͘
^&
dz;^Ϳ ϭϲ KEͲ'K/E' ZĞŐƵůĂƌůLJƌĞǀŝĞǁĂŶĚƵƉĚĂƚĞ͕ĞdžĞƌĐŝƐĞ ĂŶĚƌĞǀŝƐĞƚŚĞ^ĂŶůĞŵĞŶƚĞDƵůƚŝͲ,ĂnjĂƌĚ

ŵĞƌŐĞŶĐLJWůĂŶǁŝƚŚĂƉƉƌŽƉƌŝĂƚĞďĞƐƚƉƌĂĐƚŝĐĞƐƌĞůĂƚĞĚƚŽƚŚĞĐŽŵŵƵŶŝƚLJ͛ƐŶĂƚƵƌĂůĂŶĚŚƵŵĂŶͲŵĂĚĞŚĂnjĂƌĚƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲ'ŽŝŶŐ͗
KĐĐƵƌƐǀŝĂĞŵĞƌŐĞŶĐLJƉůĂŶŶŝŶŐĞĨĨŽƌƚƐ͘
^&
dz;^Ϳ ^Ͳϳ͘Ϭϭ ϭϳ KEͲ'K/E'
džƉůŽƌĞƚŚĞƐŝƚŝŶŐĂŶĚƐƚƌƵĐƚƵƌĂůŝŶƚĞŐƌŝƚLJ
ŽĨƚŚĞŝƚLJ͛ƐĐƌŝƚŝĐĂůĨĂĐŝůŝƚŝĞƐƚŽŝĚĞŶƚŝĨLJĂŶĚƉůĂŶƚŽŵŝƚŝŐĂƚĞĂŶLJƉŽƚĞŶƚŝĂůĚĞĨĞĐƚƐƌĞůĂƚĞĚƚŽŶĂƚƵƌĂůŽƌŚƵŵĂŶͲŵĂĚĞŚĂnjĂƌĚƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲ'ŽŝŶŐ͗
KĐĐƵƌƐǀŝĂĞŵĞƌŐĞŶĐLJƉůĂŶŶŝŶŐĞĨĨŽƌƚƐ

EXHIBIT B(ATTACHMENT 1)
66 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
^&
dz;^Ϳ ^Ͳϳ͘Ϭϴ͕^Ͳ
ϳ͘Ϭϵ
ϭϴ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽŵĂŝŶƚĂŝŶĂŶĚƵƉĚĂƚĞ
ĞŵĞƌŐĞŶĐLJƐĞƌǀŝĐĞƐ͕ƉƌĞƉĂƌĞĚŶĞƐƐ͕ƌĞƐƉŽŶƐĞĂŶĚƌĞĐŽǀĞƌLJƉůĂŶƐĂŶĚƚƌĂŝŶŝŶŐƉƌŽŐƌĂŵƐƚŚĂƚŵĞĞƚ&ĞĚĞƌĂůĂŶĚ^ƚĂƚĞƌĞƋƵŝƌĞŵĞŶƚƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐͲ KŶͲ'ŽŝŶŐ͗KĐĐƵƌƐǀŝĂĞŵĞƌŐĞŶĐLJƉůĂŶŶŝŶŐĞĨĨŽƌƚƐ͘
^&
dz;^Ϳ ^Ͳϳ͘ϬϮ ϭϵĂ KEͲ'K/E' WƵƌƐƵĞĞŵĞƌŐĞŶĐLJƐĞƌǀŝĐĞƐŐƌĂŶƚƐĂŶĚ ŽƚŚĞƌĨƵŶĚŝŶŐŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌĞŵĞƌŐĞŶĐLJƉůĂŶŶŝŶŐ͕ĂŶĚƉƵďůŝĐƐĂĨĞƚLJ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐͲ KĐĐƵƌƐǀŝĂĞŵĞƌŐĞŶĐLJƉůĂŶŶŝŶŐĞĨĨŽƌƚƐ͘
^&
dz;^Ϳ ^Ͳϳ͘Ϭϯ ϮϮ KEͲ'K/E' WƌŽǀŝĚĞĞĚƵĐĂƚŝŽŶĂůŵĂƚĞƌŝĂůƐĂŶĚ ŽƵƚƌĞĂĐŚĞĨĨŽƌƚƐƚŽŝŶĨŽƌŵƚŚĞƉƵďůŝĐĂďŽƵƚĞŵĞƌŐĞŶĐLJƉƌĞƉĂƌĂƚŝŽŶĂŶĚƌĞƐƉŽŶƐĞ͕ĂŶĚĂďŽƵƚƚŚĞĂǀĂŝůĂďŝůŝƚLJŽĨĞŵĞƌŐĞŶĐLJƐĞƌǀŝĐĞƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐͲ
KŶͲŐŽŝŶŐ
^&
dz;^Ϳ ^Ͳϳ͘ϭϬ Ϯϯ KEͲ'K/E' ^ƵƉƉŽƌƚĂŶĚŵĂŝŶƚĂŝŶĂĐƚŝǀĞƉƌŽŐƌĂŵƐƚŽ ĞŶŚĂŶĐĞĐŽŵŵƵŶŝƚLJƐĂĨĞƚLJ͕ĞŵĞƌŐĞŶĐLJƉƌĞƉĂƌĞĚŶĞƐƐĂŶĚĚŝƐĂƐƚĞƌƌĞƐƉŽŶƐĞƚŚƌŽƵŐŚǀŽůƵŶƚĞĞƌƉƌŽŐƌĂŵƐƐƵĐŚĂƐƚŚĞŽŵŵƵŶŝƚLJ ŵĞƌŐĞŶĐLJZĞƐƉŽŶƐĞdĞĂŵWƌŽŐƌĂŵ;
ZdͿ͕ZĞƚŝƌĞĚ^ĞŶŝŽƌsŽůƵŶƚĞĞƌWƌŽŐƌĂŵ;Z^sWͿ͕
džƉůŽƌĞƌ^ĐŽƵƚƐ͕EĞŝŐŚďŽƌŚŽŽĚtĂƚĐŚĂŶĚZĂĚŝŽŵĂƚĞƵƌŝƚŝnjĞŶ ŵĞƌŐĞŶĐLJ^ĞƌǀŝĐĞƐ;Z
^Ϳ͘
WƵďůŝĐtŽƌŬƐĂŶĚ,ƵŵĂŶZĞƐŽƵƌĐĞƐ
KŶͲŐŽŝŶŐ KŶͲ'ŽŝŶŐ͗
dŚĞĐŝƚLJƉĂƌƚŝĐŝƉĂƚĞƐŝŶƚŚĞŵĂũŽƌŝƚLJŽĨƉƌŽŐƌĂŵƐ͘hƚŝůŝƚŝĞƐƉƌŽǀŝĚĞƐƐƵƉƉŽƌƚƐƚŽĚŝƐĂƐƚĞƌƉƌĞƉĂƌĞĚŶĞƐƐ͕ďƵƚĚŽĞƐŶ͛ƚŽǀĞƌƐĞĞƚŚĞƐĞƉƌŽŐƌĂŵƐ͘ ^&
dz;^Ϳ ϭϱ KEͲ'K/E' ^ƚƵĚLJƚŚĞĨĞĂƐŝďŝůŝƚLJĂŶĚƉƌĂĐƚŝĐĂůŝƚLJŽĨ ŽďƚĂŝŶŝŶŐĂĚĞƋƵĂƚĞŐĞŶĞƌĂƚŽƌƐĨŽƌĐƌŝƚŝĐĂůŝƚLJĨĂĐŝůŝƚŝĞƐƚŚĂƚĚŽŶŽƚĐƵƌƌĞŶƚůLJŚĂǀĞƚŚĞŵ͘ hƚŝůŝƚŝĞƐͬWƵďůŝĐtŽƌŬƐ
KŶͲŐŽŝŶŐ  KŶͲ'ŽŝŶŐ͗
'ĞŶĞƌĂƚŽƌƐŚĂǀĞďĞĞŶŝŶƐƚĂůůĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞŝƚLJ͛ƐtĂƚĞƌDĂƐƚĞƌWůĂŶ͕ĂƚĂůůtĂƐƚĞǁĂƚĞƌĨĂĐŝůŝƚŝĞƐĂŶĚĂƚĐƌŝƚŝĐĂů/dŝŶĨƌĂƐƚƌƵĐƚƵƌĞůŽĐĂƚŝŽŶƐ͘dŚĞƵƐĞĂŶĚůŽĐĂƚŝŽŶŽĨŐĞŶĞƌĂƚŽƌƐŝƐĞǀĂůƵĂƚĞĚĂƐƉĂƌƚŽĨŶŽƌŵĂůŽƉĞƌĂƚŝŽŶƐ͘

EXHIBIT B(ATTACHMENT 1)
67 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
^&
dz;^Ϳ ϭϱ KEͲ'K/E' ^ƚƵĚLJƚŚĞĨĞĂƐŝďŝůŝƚLJĂŶĚƉƌĂĐƚŝĐĂůŝƚLJŽĨ ŽďƚĂŝŶŝŶŐĂĚĞƋƵĂƚĞŐĞŶĞƌĂƚŽƌƐĨŽƌĐƌŝƚŝĐĂůŝƚLJĨĂĐŝůŝƚŝĞƐƚŚĂƚĚŽŶŽƚĐƵƌƌĞŶƚůLJŚĂǀĞƚŚĞŵ͘ hƚŝůŝƚŝĞƐͬWƵďůŝĐtŽƌŬƐ
KŶͲŐŽŝŶŐ 'ĞŶĞƌĂƚŽƌƐŚĂǀĞďĞĞŶ
ŝŶƐƚĂůůĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞŝƚLJ͛ƐtĂƚĞƌDĂƐƚĞƌWůĂŶ͕ĂƚĂůůtĂƐƚĞǁĂƚĞƌĨĂĐŝůŝƚŝĞƐĂŶĚĂƚĐƌŝƚŝĐĂů/dŝŶĨƌĂƐƚƌƵĐƚƵƌĞůŽĐĂƚŝŽŶƐ͘dŚĞƵƐĞĂŶĚůŽĐĂƚŝŽŶŽĨŐĞŶĞƌĂƚŽƌƐŝƐĞǀĂůƵĂƚĞĚĂƐƉĂƌƚŽĨŶŽƌŵĂůŽƉĞƌĂƚŝŽŶƐ͘ hZE
^/'E;hͿ

ůĞŵĞŶƚ'ŽĂůƐ
ϮϬ KEͲ'K/E' ZĞǀŝĞǁĂŶĚƵƉĚĂƚĞƌĞŐƵůĂƚŝŽŶƐĂŶĚĚĞƐŝŐŶ
ŐƵŝĚĞůŝŶĞƐĂƐŶĞĐĞƐƐĂƌLJƚŽƌĞĨůĞĐƚďĞƐƚƉƌĂĐƚŝĐĞƐŝŶĂƌĐŚŝƚĞĐƚƵƌĂůĚĞƐŝŐŶ͕ůĂŶĚƐĐĂƉŝŶŐĂŶĚŵĂŝŶƚĞŶĂŶĐĞ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ tŽƌŬƚŽĨŽůůŽǁƵƉĚĂƚĞƐƚŽƚŚĞ
>W͘/DĚĞƐĐƌŝƉƚŝŽŶĐŽŶƐŝƐƚĞŶƚǁŝƚŚŽƵƚůŽǁĂŶĚŵĞĚŝƵŵƉƌŝŽƌŝƚLJ/DƐ͘ hZE
^/'E;hͿ
hͲϱ͘ϭϯ Ϯϭ KEͲ'K/E' ZĞǀŝĞǁĂŶĚƵƉĚĂƚĞƚŚĞŽŶŝŶŐKƌĚŝŶĂŶĐĞ ĂŶĚĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐƚŽƐƚƌĞĂŵůŝŶĞƚŚĞ
ĚĞǀĞůŽƉŵĞŶƚƌĞǀŝĞǁƉƌŽĐĞƐƐ͕ŝŶĐůƵĚŝŶŐƚŚĞƉŽƐƐŝďŝůŝƚLJŽĨƉĂƌŬŝŶŐǁĂŝǀĞƌĂŶĚŝŶͲůŝĞƵĨĞĞƉƌŽŐƌĂŵƐĂŶĚŽƚŚĞƌŝŶĐĞŶƚŝǀĞƐƚŚĂƚĞŶĐŽƵƌĂŐĞƚŚĞƌĞŚĂďŝůŝƚĂƚŝŽŶĂŶĚĨĂĐĂĚĞƵƉŐƌĂĚĞƐŝŶƚŚĞŽǁŶƚŽǁŶŽƌĞ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ ŽŶŝŶŐƉƌŽĐĞĚƵƌĞƐǁĞƌĞ
ĂŵĞŶĚĞĚŝŶϮϬϭϱǁŝƚŚĚŝƌĞĐƚŝŽŶƚŽƌĞĐŽŶƐŝĚĞƌĂŶĚƉŽƐƐŝďůLJƐƚƌĞĂŵůŝŶĞƌĞǀŝĞǁƉƌŽĐĞƐƐĨƵƌƚŚĞƌĂĨƚĞƌƵƉĚĂƚĞƐƚŽŽŶŝŶŐ͕^ƉĞĐŝĨŝĐWůĂŶƐ͕ĂŶĚĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐ͘dŚĞWĂƌŬŝŶŐĐƚŝŽŶdĞĂŵĞǀĂůƵĂƚĞƐǀĂƌŝŽƵƐƉĂƌŬŝŶŐƐŽůƵƚŝŽŶƐ͕ŝŶĐůƵĚŝŶŐŝŶͲůŝĞƵĨĞĞƐ͕ĨŽƌŝƚLJŽƵŶĐŝůĐŽŶƐŝĚĞƌĂƚŝŽŶ͘

EXHIBIT B(ATTACHMENT 1)
68 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
hZE
^/'E;hͿ
hͲϭ͘ϬϴͲϬϵ͕hͲϮ͘Ϭϳ
ϲ KEͲ'K/E' DĂŝŶƚĂŝŶĂŶĚĞdžƉĂŶĚƚŚĞtĂLJĨŝŶĚŝŶŐ^ŝŐŶ
WƌŽŐƌĂŵĂŶĚŝƚLJǁĞďƐŝƚĞƚŽĨĂĐŝůŝƚĂƚĞƌĞŐŝŽŶĂůĂĐĐĞƐƐĨƌŽŵ/ŶƚĞƌƐƚĂƚĞϱƚŽƉŽƉƵůĂƌĚĞƐƚŝŶĂƚŝŽŶƐ;Ğ͘Ő͕͘ĞůDĂƌ͕WŝĞƌŽǁů͕EŽƌƚŚĞĂĐŚͿ͕ƉƌŝŵĂƌLJďĞĂĐŚĂĐĐĞƐƐƉŽŝŶƚƐ͕ƉĂƌŬƐ͕ƉƵďůŝĐƉĂƌŬŝŶŐĂƌĞĂƐ͕ƉƌŽŵŝŶĞŶƚŶĂƚƵƌĂůĨĞĂƚƵƌĞƐĂŶĚŝƚLJĞŶƚƌLJƉŽŝŶƚƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚͬWƵďůŝĐtŽƌŬƐ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘ŽŶƚŝŶƵĞƚŽ
ŵŽŶŝƚŽƌŝƐƐƵĞ͕ŝĚĞŶƚŝĨLJŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌŝŵƉƌŽǀĞĚǁĂLJĨŝŶĚŝŶŐ͕ĂŶĚĂƐƐĞƐƐŵĂŝŶƚĞŶĂŶĐĞ͘ŽŶƐŝĚĞƌŝŵƉƌŽǀĞŵĞŶƚƐŝŶĂŶŶƵĂůďƵĚŐĞƚƉƌŽĐĞƐƐ͘tŝƚŚŽƵŶĐŝůĚŝƌĞĐƚŝŽŶ͕ŝŶĂĨƵƚƵƌĞƵƉĚĂƚĞŽĨƚŚĞĚĞƐŝŐŶŐƵŝĚĞůŝŶĞƐ͕ƚŚĞƉƌĞǀŝŽƵƐůLJƉƌŽĐĞƐƐĞĚĂŶĚĂĐĐĞƉƚĞĚǁĂLJĨŝŶĚŝŶŐƐŝŐŶƉƌŽŐƌĂŵĐĂŶďĞĨŽůĚĞĚŝŶƚŽŐƵŝĚĞůŝŶĞƐ͘ hZE
^/'E;hͿ
hͲϭ͘ϬϴͲϬϵ͕hͲϮ͘Ϭϳ
ϲ KEͲ'K/E' DĂŝŶƚĂŝŶĂŶĚĞdžƉĂŶĚƚŚĞtĂLJĨŝŶĚŝŶŐ^ŝŐŶ
WƌŽŐƌĂŵĂŶĚŝƚLJǁĞďƐŝƚĞƚŽĨĂĐŝůŝƚĂƚĞƌĞŐŝŽŶĂůĂĐĐĞƐƐĨƌŽŵ/ŶƚĞƌƐƚĂƚĞϱƚŽƉŽƉƵůĂƌĚĞƐƚŝŶĂƚŝŽŶƐ;Ğ͘Ő͕͘ĞůDĂƌ͕WŝĞƌŽǁů͕EŽƌƚŚĞĂĐŚͿ͕ƉƌŝŵĂƌLJďĞĂĐŚĂĐĐĞƐƐƉŽŝŶƚƐ͕ƉĂƌŬƐ͕ƉƵďůŝĐƉĂƌŬŝŶŐĂƌĞĂƐ͕ƉƌŽŵŝŶĞŶƚŶĂƚƵƌĂůĨĞĂƚƵƌĞƐĂŶĚŝƚLJĞŶƚƌLJƉŽŝŶƚƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚͬWƵďůŝĐtŽƌŬƐ
KŶͲŐŽŝŶŐ KŶͲ'ŽŝŶŐ͗
ŽŶƚŝŶƵĞƚŽŵŽŶŝƚŽƌŝƐƐƵĞ͕ŝĚĞŶƚŝĨLJŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌŝŵƉƌŽǀĞĚǁĂLJĨŝŶĚŝŶŐ͕ĂŶĚĂƐƐĞƐƐŵĂŝŶƚĞŶĂŶĐĞ͘ŽŶƐŝĚĞƌŝŵƉƌŽǀĞŵĞŶƚƐŝŶĂŶŶƵĂůďƵĚŐĞƚƉƌŽĐĞƐƐ͘tŝƚŚŽƵŶĐŝůĚŝƌĞĐƚŝŽŶ͕ŝŶĂĨƵƚƵƌĞƵƉĚĂƚĞŽĨƚŚĞĚĞƐŝŐŶŐƵŝĚĞůŝŶĞƐ͕ƚŚĞƉƌĞǀŝŽƵƐůLJƉƌŽĐĞƐƐĞĚĂŶĚĂĐĐĞƉƚĞĚǁĂLJĨŝŶĚŝŶŐƐŝŐŶƉƌŽŐƌĂŵĐĂŶďĞĨŽůĚĞĚŝŶƚŽŐƵŝĚĞůŝŶĞƐ͘

EXHIBIT B(ATTACHMENT 1)
69 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
hZE
^/'E;hͿ
'ŽĂůƐϳͲϭϰ
ϭ KEͲ'K/E'
džƉĂŶĚĂŶĚƵƉŐƌĂĚĞƚŚĞŝƚLJΖƐŝŵƉŽƌƚĂŶƚ
ƉƵďůŝĐƉůĂĐĞƐ͕ŐŝǀŝŶŐŚŝŐŚƉƌŝŽƌŝƚLJƚŽƵƌďĂŶĚĞƐŝŐŶĂŶĚƐƚƌĞĞƚƐĐĂƉĞŝŵƉƌŽǀĞŵĞŶƚƐŝŶƚŚĞĨŽůůŽǁŝŶŐĂƌĞĂƐ͕ŝŶŶŽƉĂƌƚŝĐƵůĂƌŽƌĚĞƌ͗ĂͿEŽƌƚŚĞĂĐŚ͕ďͿ^ŽƵƚŚ ůĂŵŝŶŽZĞĂů͕ďĞƚǁĞĞŶdͲŽŶĞĂŶĚ/ŶƚĞƌƐƚĂƚĞ͖ĐͿ>ŽƐDŽůŝŶŽƐ͕ĚͿ^ŽƵƚŚ ůĂŵŝŶŽZĞĂů͕ƐŽƵƚŚŽĨǀĞŶŝĚĂDĂŐĚĂůĞŶĂ͕ĞͿĞůDĂƌͬdͲŽŶĞ͕ĨͿWŝĞƌŽǁů͕ŐͿ^ŽƵƚŚ ůĂŵŝŶŽZĞĂů͕ďĞƚǁĞĞŶ/ŶƚĞƌƐƚĂƚĞϱĂŶĚǀĞŶŝĚĂDĂŐĚĂůĞŶĂ͕ŚͿĂŵŝŶŽĚĞ ƐƚƌĞůůĂͬĂŵŝŶŽĚĞ>ŽƐDĂƌĞƐ͕ŝͿEŽƌƚŚ
ůĂŵŝŶŽZĞĂů
WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ͕&ƵŶĚŝŶŐ
ůŝŵŝƚĂƚŝŽŶƐͲ/ŵƉƌŽǀĞŵĞŶƚƐĂƌĞƉƵƌƐƵĞĚĂƐĚŝƌĞĐƚĞĚďLJŽƵŶĐŝůƚŚƌŽƵŐŚďƵĚŐĞƚĂŶĚĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚWƌŽŐƌĂŵ hZE
^/'E;hͿ
hͲϰ͘Ϭϭ͕hͲϰ͘Ϭϲ
ϭϬ KEͲ'K/E'
ƐƚĂďůŝƐŚƉƌŽŐƌĂŵƐƚŽŵĂŝŶƚĂŝŶĐůĞĂŶ͕
ĂƚƚƌĂĐƚŝǀĞƐŝĚĞǁĂůŬƐŝŶĐŽŵŵĞƌĐŝĂůĂƌĞĂƐ͘
WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ &ƵŶĚŝŶŐ>ŝŵŝƚĂƚŝŽŶƐͲ ŝƚLJŚĂƐŽƵŶĐŝůĂƉƉƌŽǀĞĚƉƌŽŐƌĂŵĨŽƌdͲŽŶĞ͘
hZE
^/'E;hͿ
hͲϱ͘ϭϴ ϭϴ KEͲ'K/E' ĞǀĞůŽƉŝŶĐĞŶƚŝǀĞƐĨŽƌƚŚĞƵƐĞŽĨ
ĚƌŽƵŐŚƚͲƚŽůĞƌĂŶƚĂŶĚĂůŝĨŽƌŶŝĂŶĂƚŝǀĞƐƉĞĐŝĞƐŝŶůĂŶĚƐĐĂƉĞĚĞƐŝŐŶ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ dŚĞƌĞĂƌĞŝŶĐĞŶƚŝǀĞƐĨŽƌ
ƚƵƌĨƌĞŵŽǀĂůĂŶĚŝŶƐƚĂůůĂƚŝŽŶŽĨĚƌŽƵŐŚƚƚŽůĞƌĂŶƚƉůĂŶƚƐĂůŽŶŐǁŝƚŚĚƌŝƉŝƌƌŝŐĂƚŝŽŶĐŽŶǀĞƌƐŝŽŶ͘

EXHIBIT B(ATTACHMENT 1)
70 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz>
s
> /DW>
D
Edd/KED
^hZ

^Z/Wd/KE >

Wd͘ ^ddh^
Z
^KE&KZ
,E'
^ ^ddh^KE^dZ/Ed^
K^d>;Ϳ
ͲϮ͘Ϭϱ ϭ ,/',WZ/KZ/dz WƌĞƉĂƌĞĂ>ŽĐĂůŽĂƐƚĂůWƌŽŐƌĂŵĂŶĚƐĞĐƵƌĞĂůŝĨŽƌŶŝĂ ŽĂƐƚĂůŽŵŵŝƐƐŝŽŶĐĞƌƚŝĨŝĐĂƚŝŽŶ͘dŚĞ>WŝŶĐůƵĚĞƐĂŶƵƉĚĂƚĞŽĨƚŚĞ>ĂŶĚhƐĞWůĂŶ;>hWͿ͕Ă^ĞĂ>ĞǀĞůZŝƐĞsƵůŶĞƌĂďŝůŝƚLJƐƐĞƐƐŵĞŶƚ;^>ZsͿĂŶĚ^ĞĂ>ĞǀĞůZŝƐĞZĞƐŝůŝĞŶĐLJWůĂŶ;^>ZZWͿ͕ĂŶĚĂŶ/ŵƉůĞŵĞŶƚĂƚŝŽŶWůĂŶ;/WͿ͕ǁŚŝĐŚĐŽŵƉƌŝƐĞƐ^ƉĞĐŝĨŝĐWůĂŶƐĨŽƌĐŽĂƐƚĂůnjŽŶĞĂƌĞĂƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
^ƚĂƌƚĞĚ tŽƌŬŝŶƉƌŽŐƌĞƐƐǁŝƚŚŐƌĂŶƚ
ĨƵŶĚŝŶŐ͘dŚĞĂůŝĨŽƌŶŝĂŽĂƐƚĂůŽŵŵŝƐƐŝŽŶĐĞƌƚŝĨŝĞĚƚŚĞ>ŽĐĂůŽĂƐƚĂůWƌŽŐƌĂŵ>ĂŶĚhƐĞWůĂŶ;>hWͿŽŶƵŐƵƐƚϴ͕ϮϬϭϴ͘ŝƚLJĂĚŽƉƚĞĚĂ^>Zs;ϮϬϭϵͿĂŶĚ^>ZZW;ϮϬϮϭͿ͘dŚĞŝƚLJŝƐŶŽǁƉƌĞƉĂƌŝŶŐĂŶ/WĨŽƌƉƵďůŝĐƌĞǀŝĞǁ͕ŝƚLJŽƵŶĐŝůĐŽŶƐŝĚĞƌĂƚŝŽŶĂŶĚĂĚŽƉƚŝŽŶ͕ĂŶĚŽĂƐƚĂůŽŵŵŝƐƐŝŽŶĐĞƌƚŝĨŝĐĂƚŝŽŶ͘ 'Ks
ZEE
;'Ϳ
'ͲϮ͘Ϭϭ͕'ͲϮ͘Ϭϰ
,/',WZ/KZ/dz hƉĚĂƚĞͬĞdžƚĞŶĚůĞĂƐĞƐĂƚŝƚLJƉƌŽƉĞƌƚŝĞƐŽƌƉƵƌƐƵĞŶĞǁ ƚĞŶĂŶƚƐĨŽƌĂŶLJǀĂĐĂŶĐŝĞƐĂƚŝƚLJƉƌŽƉĞƌƚŝĞƐ͘
ŝƚLJDĂŶĂŐĞƌ ŽŵƉůĞƚĞĚ dŚĞŝƚLJŚĂƐƌĞĐĞŶƚůLJ
ĞdžƚĞŶĚĞĚůĞĂƐĞƐĂƚŝƚƐĐŽŶĐĞƐƐŝŽŶƉƌŽƉĞƌƚŝĞƐ͕ϭϭϬϬE͘
ůĂŵŝŶŽZĞĂů͕ϭϬϯϬĂůůĞEĞŐŽĐŝŽ͕ĂŶĚĂƚƚŚĞKůĞ,ĂŶƐŽŶĞĂĐŚůƵď͘ džƚĞŶĚĞĚůĞĂƐĞĂƚĨŽƌŵĞƌĐŚĂŵďĞƌůŽĐĂƚŝŽŶ͖ŽŶͲŐŽŝŶŐĞĨĨŽƌƚƐĨŽƌƐƵƌƉůƵƐůĂŶĚůĞĂƐĞŽƌƐĂůĞ͖ĐŽŶĐĞƐƐŝŽŶƉƌŽƉŽƐĂůƐĂƌĞĚƵĞ:ĂŶƵĂƌLJϮϬϮϮ͘ 'ͲϮ͘ϬϭĂŶĚ'ͲϮ͘ϬϰĂƌĞŶŽƚŝŶƚŚĞƐĂĨĞƚLJĞůĞŵĞŶƚ͘
,/^dKZ/WZ
^
Zsd/KE;,WͿ
Ϯϯ ,/',WZ/KZ/dz tŽƌŬǁŝƚŚƚŚĞƉƌŽƉĞƌƚLJŽǁŶĞƌ͕ĐŝƚŝnjĞŶƐ͕^ĂŶůĞŵĞŶƚĞ ,ŝƐƚŽƌŝĐĂů^ŽĐŝĞƚLJ͕ƐĐŚŽŽůƐ͕ƉĞƌĨŽƌŵŝŶŐĂƌƚƐ͕ďƵƐŝŶĞƐƐĂŶĚŽƚŚĞƌĐŽŵŵƵŶŝƚLJŐƌŽƵƉƐƚŽĂƐƐŝƐƚŝŶƚŚĞƌĞŚĂďŝůŝƚĂƚŝŽŶŽĨƚŚĞDŝƌĂŵĂƌdŚĞĂƚƌĞ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
^ƚĂƌƚĞĚ ƉƉůŝĐĂƚŝŽŶƉƌŽĐĞƐƐĞĚĨŽƌ
DŝƌĂŵĂƌƌĞŚĂďŝůŝƚĂƚŝŽŶ͘ƵŝůĚŝŶŐƉĞƌŵŝƚƐǁĞƌĞŝƐƐƵĞĚĂŶĚĐŽŶƐƚƌƵĐƚŝŽŶŝƐ ŽŶŐŽŝŶŐŝŶϮϬϮϮŚĂƐďĞĞŶƉĂƵƐĞĚĚƵĞƚŽĐŚĂŶŐĞŝŶŽǁŶĞƌƐŚŝƉ͘^ƚĂĨĨĐŽŶƚŝŶƵĞƐ ƚŽǁŽƌŬǁŝƚŚƚŚĞŽǁŶĞƌƚŽĨĂĐŝůŝƚĂƚĞƉƌŽŐƌĞƐƐŽŶƚŚĞƉƌŽũĞĐƚ͘

ATTACHMENT 2
71 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz>
s
> /DW>
D
Edd/KED
^hZ

^Z/Wd/KE >

Wd͘ ^ddh^
Z
^KE&KZ
,E'
^ ^ddh^KE^dZ/Ed^
>Eh^
;>hͿ
ϭď ,/',WZ/KZ/dz hƉĚĂƚĞ^ƉĞĐŝĨŝĐWůĂŶƐĨŽƌŝƚLJĂƌĞĂƐŽƵƚƐŝĚĞĂŶĚǁŝƚŚŝŶƚŚĞ ŽĂƐƚĂůŽŶĞƚŽďĞĐŽŶƐŝƐƚĞŶƚǁŝƚŚƚŚĞĞŶƚĞŶŶŝĂů'ĞŶĞƌĂůWůĂŶ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
^ƚĂƌƚĞĚŽŵƉůĞƚĞĚ tŽƌŬŝŶĐůƵĚĞƐƵƉĚĂƚĞƐ
ƚŽĂůů^ƉĞĐŝĨŝĐWůĂŶƐ͘ŽŵƉůĞƚĞĚ
WƌŽũĞĐƚŝŶŝƚŝĂƚĞĚƵŐƵƐƚϮϬϮϭĂŶĚƵƉĚĂƚĞĚƚŽŝŶĐůƵĚĞ^ƉĞĐŝĨŝĐWůĂŶƐǁŝƚŚŝŶŽĂƐƚĂůŽŶĞ͘ŽŵƉůĞƚĞĚ >Eh^
;>hͿ
>hͲϲ͘Ϭϱ ,/',WZ/KZ/dz >ŝƐƚƐƵƌƉůƵƐŝƚLJƉƌŽƉĞƌƚŝĞƐĨŽƌƐĂůĞŽƌůĞĂƐĞĂŶĚĐŽŶƐŝĚĞƌ ƉƌŽƉŽƐĂůƐ͘
ŝƚLJDĂŶĂŐĞƌ ŽŵƉůĞƚĞĚ ŽƵŶĐŝůĞǀĂůƵĂƚĞĚ
ƉƌŽƉŽƐĂůƐĨŽƌƚŚĞƉĂƌĐĞůĂƚǀĞŶŝĚĂ>ĂWĂƚĂĂŶĚsŝƐƚĂ,ĞƌŵŽƐĂŝŶYϯŽĨϮϬϮϬ͘dŚĞLJĂƌĞƌĞǀŝƐŝƚŝŶŐƚŚŝƐŝƚĞŵŝŶYϭŽĨϮϬϮϭ͘^ƚĂĨĨĂůƐŽŝƐƐƵĞĚĂŶZ&WĨŽƌƚŚĞĨŽƌŵĞƌŝƚLJ,ĂůůƐŝƚĞ;WƌĞƐŝĚŝŽƉƌŽƉĞƌƚLJͿ͘ŽƵŶĐŝůǁŝůůĞǀĂůƵĂƚĞƚŚŽƐĞƉƌŽƉŽƐĂůƐŝŶYϭϮϬϮϭĂƐǁĞůů͘dŚĞŝƚLJŽƵŶĐŝůŝƐŝŶƚŚĞƉƌŽĐĞƐƐŽĨĞǀĂůƵĂƚŝŶŐ^>ŽĨĨĞƌƐĂƚƚŚĞĨŽƌŵĞƌŝƚLJ,ĂůůƐŝƚĞ;ϭϬϬǀĞWƌĞƐŝĚŝŽͿĂŶĚŵĂLJĂůƐŽĐŽŶƐŝĚĞƌĂƐĂůĞŽƌůĞĂƐĞŽĨŝƚLJƉƌŽƉĞƌƚLJĂƚƚŚĞĐŽƌŶĞƌŽĨǀĞ͘sŝƐƚĂ,ĞƌŵŽƐĂĂŶĚǀĞ͘>ĂWĂƚĂ͘ ^ƚĂƚƵƐĐŚĂŶŐĞ͘
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϯ͘Ϭϭ ϯϵ ,/',WZ/KZ/dz WƌĞƉĂƌĞĂŶĚŵĂŝŶƚĂŝŶĂŶŝŶǀĞŶƚŽƌLJŽĨƐŝĚĞǁĂůŬĨĂĐŝůŝƚŝĞƐƚŽ ĚĞƚĞƌŵŝŶĞǁŚĞƌĞƉĞĚĞƐƚƌŝĂŶŝŵƉƌŽǀĞŵĞŶƚƐĂƌĞŵŽƐƚŶĞĞĚĞĚƚŽƉƌŽǀŝĚĞĂĐŽŶƚŝŶƵŽƵƐƐĂĨĞƌŽƵƚĞĨŽƌƉĞĚĞƐƚƌŝĂŶƐƚŚƌŽƵŐŚŽƵƚ^ĂŶůĞŵĞŶƚĞ͘ WƵďůŝĐtŽƌŬƐ ^ƚĂƌƚĞĚ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ͗ /ŶǀĞŶƚŽƌLJŝƐƵƉĚĂƚĞĚǀŝĂŽŶŐŽŝŶŐŝŶƐƉĞĐƚŝŽŶƐ͘&ƵůůƐŝĚĞǁĂůŬŝŶǀĞŶƚŽƌLJƚŽďĞĐŽŵƉůĞƚĞĚŝŶ&zϮϬϮϬŝĚĞŶƚŝĨLJŝŶŐŐĂƉƐĂƐƐƚĂĨĨůĞǀĞůƐ ĂůůŽǁ͘

ATTACHMENT 2
72 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz>
s
> /DW>
D
Edd/KED
^hZ

^Z/Wd/KE >

Wd͘ ^ddh^
Z
^KE&KZ
,E'
^ ^ddh^KE^dZ/Ed^
EdhZ>Z
^KhZ
^;WZͿ
EZͲϱ͘Ϭϳ ϳ ,/',WZ/KZ/dz ĞǀĞůŽƉĂdƌĞĞKƌĚŝŶĂŶĐĞ͘dŚĞŽƌĚŝŶĂŶĐĞǁŝůůĐŽŶƐŝĚĞƌ ƐƚĂŶĚĂƌĚƐĂŶĚƉƌŽĐĞĚƵƌĞƐĨŽƌĐŝƚLJͲŽǁŶĞĚƉƌŽƉĞƌƚLJƚƌĞĞƐĞůĞĐƚŝŽŶĂŶĚƌĞŵŽǀĂů͕ƉƌĞƐĞƌǀĂƚŝŽŶĂŶĚŵĂŝŶƚĞŶĂŶĐĞĂŶĚƚŚĞĞƐƚĂďůŝƐŚŵĞŶƚŽĨĂƚƌĞĞĐĂŶŽƉLJƉĞƌĐĞŶƚĂŐĞƚĂƌŐĞƚ͕ďĂƐĞĚŽŶƐƚĂŶĚĂƌĚƐĞŶĐŽƵƌĂŐĞĚďLJƚŚĞ/ŶƚĞƌŶĂƚŝŽŶĂů^ŽĐŝĞƚLJŽĨƌďŽƌŝĐƵůƚƵƌĞ͘dŚĞƚƌĞĞŽƌĚŝŶĂŶĐĞƐŚĂůůŝŶĐůƵĚĞĐƌŝƚĞƌŝĂĨŽƌĞǀĂůƵĂƚŝŶŐƉŽƚĞŶƚŝĂůĐŽŶĨůŝĐƚƐǁŚŝĐŚŵĂLJĂƌŝƐĞǁŚĞŶƚƌĞĞƐƵƉůŝĨƚƐŝĚĞǁĂůŬƐŽƌǁŚĞƌĞŶĞǁƐŝĚĞǁĂůŬƐĂƌĞďĞŝŶŐĐŽŶƐƚƌƵĐƚĞĚ͘WŽƚĞŶƚŝĂůŵŝƚŝŐĂƚŝŽŶŵĂLJŝŶĐůƵĚĞƌŽŽƚƉƌƵŶŝŶŐ͕ŵŽĚŝĨŝĐĂƚŝŽŶŽĨĨƌŽŶƚĂŐĞŝŵƉƌŽǀĞŵĞŶƚƐ͕ƌŽŽƚďĂƌƌŝĞƌƐ͕ƌĞůŽĐĂƚŝŽŶ͕ĂŶĚƌĞŵŽǀĂůĂŶĚƌĞƉůĂĐĞŵĞŶƚ͘ WƵďůŝĐtŽƌŬƐ ^ƚĂƌƚĞĚ KŶͲŐŽŝŶŐ͗dƌĞĞŵĂŝŶƚĞŶĂŶĐĞ
ƐƉĞĐŝĨŝĐĂƚŝŽŶƐĂŶĚƉůĂŶƐĚĞǀĞůŽƉĞĚ͘dƌĞĞŽƌĚŝŶĂŶĐĞƚŽďĞĚĞǀĞůŽƉĞĚŝŶ&zϮϬϮϯŽƌϮϰ͘ EdhZ>Z
^KhZ
^;EZͿ
EZͲϳ͘Ϭϭ͕EZͲϳ͘ϬϮ͕EZͲϳ͘Ϭϯ
ϮϬ ,/',WZ/KZ/dz hƐĞƚŚĞ/ŶƚĞƌŶĂƚŝŽŶĂůĂƌŬͲ^ŬLJƐƐŽĐŝĂƚŝŽŶ͛Ɛ;/ΖƐͿDŽĚĞů >ŝŐŚƚŝŶŐKƌĚŝŶĂŶĐĞƚŽĂŝĚŝŶĚĞǀĞůŽƉŝŶŐŽƵƚĚŽŽƌůŝŐŚƚŝŶŐƐƚĂŶĚĂƌĚƐĨŽƌƌĞƐŝĚĞŶƚŝĂůĂŶĚŶŽŶͲƌĞƐŝĚĞŶƚŝĂůƵƐĞƐůŝŐŚƚŝŶŐnjŽŶĞƐƚŚĂƚƉƌŽǀŝĚĞĚŝĨĨĞƌĞŶƚŐƵŝĚĞůŝŶĞƐĂŶĚƐƚĂŶĚĂƌĚƐĨŽƌĚŝĨĨĞƌĞŶƚĂƌĞĂƐ͕ƌĞĐŽŐŶŝnjŝŶŐƚŚĞŝƌǀĂƌŝŽƵƐƐĂĨĞƚLJ͕ĂĞƐƚŚĞƚŝĐĂŶĚĞŶǀŝƌŽŶŵĞŶƚĂůĐŽŶƐƚƌĂŝŶƚƐĂŶĚĨƵŶĐƚŝŽŶƐ͘ůƐŽ͕ĐŽŶƐŝĚĞƌĐŚĂŶŐĞƐƚŽƉƵďůŝĐůŝŐŚƚŝŶŐĚĞƐŝŐŶͬƐƉĂĐŝŶŐƐƚĂŶĚĂƌĚƐƚŽƌĞĚƵĐĞůŝŐŚƚƉŽůůƵƚŝŽŶ͕ŝŵƉƌŽǀĞĞŶĞƌŐLJĞĨĨŝĐŝĞŶĐLJĂŶĚŵĂŝŶƚĂŝŶƐĂĨĞƚLJ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
^ƚĂƌƚĞĚďƵƚŝŶĂĐƚŝǀĞ tŽƌŬŝƐƉĂƌƚŝĂůůLJĐŽŵƉůĞƚĞĚ
ŽŶĂĚƌĂĨƚŽƌĚŝŶĂŶĐĞǁŝƚŚĂĂƌŬ^ŬŝĞƐƚĂƐŬĨŽƌĐĞ͘tŽƌŬƚŽƌĞƐƵŵĞĂĨƚĞƌŽŶŝŶŐĂŶĚ ^ƉĞĐŝĨŝĐWůĂŶƵƉĚĂƚĞƐĨŽƌ'ĞŶĞƌĂůWůĂŶĐŽŶƐŝƐƚĞŶĐLJ͕ĂŶĚĨŽůůŽǁŝŶŐƵƉĚĂƚĞƐƚŽƚŚĞ>W͕ďĂƐĞĚŽŶƌĞƐŽƵƌĐĞƐ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^
;W^&hͿ
W^&hͲϱ͘ϭϮ
Ϯϲ ,/',WZ/KZ/dz ZĞǀŝĞǁĂŶĚƵƉĚĂƚĞŝƚLJůĂŶĚƐĐĂƉŝŶŐĂŶĚŝƌƌŝŐĂƚŝŽŶ ƌĞƋƵŝƌĞŵĞŶƚƐĨŽƌƉƵďůŝĐĂŶĚƉƌŝǀĂƚĞĚĞǀĞůŽƉŵĞŶƚƚŽĞŶƐƵƌĞƌĞŐƵůĂƚŝŽŶƐƉƌŽŵŽƚĞĚƌŽƵŐŚƚͲƚŽůĞƌĂŶƚůĂŶĚƐĐĂƉŝŶŐĂŶĚƐLJƐƚĞŵƐďĞƐƚƉƌĂĐƚŝĐĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚ ŽŵƉůĞƚĞĚ ŽŵƉůĞƚĞĚĚŽƉƚĞĚDŽĚĞů

ĨĨŝĐŝĞŶƚ>ĂŶĚƐĐĂƉĞKƌĚŝŶĂŶĐĞ;Dt
>KͿ͘
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϲ͘ϬϮ
Ϯϵ ,/',WZ/KZ/dz ZĞǀŝĞǁĂŶĚŝĨŶĞĐĞƐƐĂƌLJ͕ƵƉĚĂƚĞƚŚĞĞdžŝƐƚŝŶŐŝƚLJƌĂŝŶĂŐĞ DĂƐƚĞƌWůĂŶŝŶŽƌĚĞƌƚŽŝĚĞŶƚŝĨLJĚĞĨŝĐŝĞŶĐŝĞƐĂŶĚŶĞĞĚĞĚŝŵƉƌŽǀĞŵĞŶƚƐŝŶƚŚĞĚƌĂŝŶĂŐĞƐLJƐƚĞŵ͘ hƚŝůŝƚŝĞƐ ^ƚĂƌƚĞĚ ^ƚƵĚLJŝƐĐŽŵƉůĞƚĞĚ͕
ƉƌŽũĞĐƚƐŚĂǀĞďĞĞŶƉƌŝŽƌŝƚŝnjĞĚĂŶĚĂƌĞďĞŝŶŐŝŵƉůĞŵĞŶƚĞĚĂƐƉĂƌƚŽĨƚŚĞŝƚLJ͛ƐŽŶŐŽŝŶŐ/W͘

ATTACHMENT 2
73 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz>
s
> /DW>
D
Edd/KED
^hZ

^Z/Wd/KE >

Wd͘ ^ddh^
Z
^KE&KZ
,E'
^ ^ddh^KE^dZ/Ed^
^&
dz;^Ϳ ^Ͳϳ͘Ϭϭ ϭϴ ,/',WZ/KZ/dz ZĞƐƉŽŶĚƚŽŽǀŝĚͲϭϵďLJƉƌŽǀŝĚŝŶŐƐĂĨĞĨĂĐŝůŝƚŝĞƐĨŽƌ ĞŵƉůŽLJĞĞƐĂŶĚƚŚĞƉƵďůŝĐ͘
ŝƚLJDĂŶĂŐĞƌ ŽŵƉůĞƚĞĚ 'ůĂƐƐƐŚŝĞůĚƐŚĂǀĞ
ďĞĞŶŝŶƐƚĂůůĞĚĂƚƚŚĞƉƵďůŝĐĐŽƵŶƚĞƌƐ͕ĂŶĚŚĂŶĚƐĂŶŝƚĂƚŝŽŶƐƚĂƚŝŽŶƐŚĂǀĞďĞĞŶŝŶƐƚĂůůĞĚĂƚŝƚLJ,Ăůů͘^ƚĂĨĨŚĂƐďĞĞŶĞŶĂďůĞĚƚŽǁŽƌŬƌĞŵŽƚĞůLJŽŶƌĞǀŽůǀŝŶŐƐĐŚĞĚƵůĞƐƚŽƌĞĚƵĐĞƚŚĞƌŝƐŬŽĨŽǀŝĚͲϭϵƚƌĂŶƐŵŝƐƐŝŽŶ͘ ^&
dz;^Ϳ ^Ͳϳ͘Ϭϭ͕^Ͳ
ϳ͘ϬϮ͕^Ͳϳ͘Ϭϯ͕^Ͳϳ͘Ϭϰ͕^Ͳϳ͘Ϭϱ
,/',WZ/KZ/dz /ŵƉůĞŵĞŶƚĞŵĞƌŐĞŶĐLJŵĞĂƐƵƌĞƐƚŽĨĂĐŝůŝƚĂƚĞƉƵďůŝĐŚĞĂůƚŚ ĂŶĚďƵƐŝŶĞƐƐƐƵƉƉŽƌƚƚŚƌŽƵŐŚƚŚĞƉŽǁĞƌƐĂĨĨŽƌĚĞĚƚŽƚŚĞŝƌĞĐƚŽƌŽĨ ŵĞƌŐĞŶĐLJ^ĞƌǀŝĐĞƐĚƵƌŝŶŐƚŚĞŝƚLJ͛ƐĞĐůĂƌĞĚ>ŽĐĂů
ŵĞƌŐĞŶĐLJĚƵĞƚŽƚŚĞŽǀŝĚͲϭϵƉĂŶĚĞŵŝĐ͘
ŝƚLJDĂŶĂŐĞƌ ŽŵƉůĞƚĞĚ EŽůŽŶŐĞƌŝŶƉůĂĐĞ͘
hZE
^/'E;hͿ
Ϯϯď ,/',WZ/KZ/dz ZĞǀŝĞǁƚŚĞƐƚĂŶĚĂƌĚƐĞƐƚĂďůŝƐŚĞĚďLJƚŚĞ/ŶƚĞƌŶĂƚŝŽŶĂů ^ŽĐŝĞƚLJŽĨƌďŽƌŝĐƵůƚƵƌĞĂŶĚĂĚŽƉƚĂĐŝƚLJǁŝĚĞŵĂŝŶƚĞŶĂŶĐĞƉůĂŶĨŽƌƐƚƌĞĞƚƚƌĞĞƐĂŶĚŝƚLJͲŽǁĞĚƚƌĞĞƐ͕ŝŶĐůƵĚŝŶŐƚƌŝŵŵŝŶŐĂŶĚƉƌƵŶŝŶŐƉƌŽĐĞĚƵƌĞƐ͕ǁŚŝĐŚĐƵůƚŝǀĂƚĞƐƚŚĞĨƵůůƉŽƚĞŶƚŝĂůŽĨƐƚƌĞĞƚƚƌĞĞƐĂƐƉƌŽǀŝĚĞƌƐŽĨƐŚĂĚĞĂŶĚĚĞƐŝŐŶĂƚŽƌƐŽĨŬĞLJĚĞƐŝŐŶĐŽƌƌŝĚŽƌƐ͘ŽŶƐŝĚĞƌƌĞĨĞƌĞŶĐŝŶŐƚŚĞƉůĂŶŝŶƚŚĞdƌĞĞKƌĚŝŶĂŶĐĞĂŶĚŝŶƚŽĐŝƚLJƉŽůŝĐŝĞƐĨŽƌŵĂŝŶƚĞŶĂŶĐĞŽĨĐŝƚLJͲŽǁŶĞĚƚƌĞĞƐ͘ WƵďůŝĐtŽƌŬƐ ^ƚĂƌƚĞĚ ůĂƌŝĨŝĐĂƚŝŽŶ KŶͲ'ŽŝŶŐͲŽŵƉůĞƚĞĚƉůĂŶƐ ĂŶĚƐƉĞĐŝĨŝĐĂƚŝŽŶƐŝŶĐŽƌƉŽƌĂƚĞĚŝŶƚŚĞďŝĚĚŽĐƵŵĞŶƚƐŝŶ&zϮϬϮϭ͘tŽƌŬŝŶŐŽŶƚƌĞĞƉŽůŝĐLJ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϲ͘Ϭϭ ϯϬ D
/hDWZ/KZ/dz ŵĞŶĚƚŚĞŽŶŝŶŐKƌĚŝŶĂŶĐĞƚŽĞƐƚĂďůŝƐŚƐƚĂŶĚĂƌĚƐƚŚĂƚ ĂůůŽǁĨŽƌĨĂƌŵĞƌƐŵĂƌŬĞƚƐ͕ĨŽŽĚĐŽŽƉĞƌĂƚŝǀĞƐ͕ĐŽŵŵƵŶŝƚLJŐĂƌĚĞŶƐ͕ĂŶĚƐŝŵŝůĂƌƚĞŵƉŽƌĂƌLJĂŐƌŝĐƵůƚƵƌĂůƌĞƚĂŝůƵƐĞƐŝŶĐŽŵŵĞƌĐŝĂůĂƌĞĂƐ͖ĂŶĚĂůůŽǁƐŵĂůů͕ŶĞŝŐŚďŽƌŚŽŽĚͲƐĞƌǀŝŶŐŵĂƌŬĞƚƐǁŝƚŚŝŶĞĂƐLJǁĂůŬŝŶŐĂŶĚďŝŬŝŶŐĚŝƐƚĂŶĐĞĨƌŽŵŵŽƐƚƌĞƐŝĚĞŶƚŝĂůĂƌĞĂƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ tŽƌŬƚŽĨŽůůŽǁƵƉĚĂƚŝŶŐ
^ƉĞĐŝĨŝĐWůĂŶƐĨŽƌĐŽŶƐŝƐƚĞŶĐLJǁŝƚŚƚŚĞ'ĞŶĞƌĂůWůĂŶ͕ĂŶĚĨŽůůŽǁƵƉĚĂƚĞƐƚŽƚŚĞ>W͕ ďĂƐĞĚŽŶƌĞƐŽƵƌĐĞƐ͘EŽƚƐƚĂƌƚĞĚĚƵĞƚŽƐĐŚĞĚƵůŝŶŐͬƚŝŵĞĐŽŶƐƚƌĂŝŶƚƐ͕ ůŽǁƉƌĞĐĞĚĞŶĐĞŽǀĞƌƉƌŝŽƌŝƚLJƉƌŽũĞĐƚƐ͕͘ĂŶĚƐƚĂĨĨƌĞƐŽƵƌĐĞůŝŵŝƚĂƚŝŽŶƐ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϲ͘ϭϮ͕WZͲϲ͘ϭϯ
ϰϱ D
/hDWZ/KZ/dz
ƐƚĂďůŝƐŚĂŽŵŵƵŶŝƚLJ>ŝǀŝŶŐ'ĂƌĚĞŶƐƉƌŽŐƌĂŵ͕ŝĚĞŶƚŝĨLJ
ǀŝĂďůĞĐŽŵŵƵŶŝƚLJŐĂƌĚĞŶƐŝƚĞƐĂŶĚĐŽŶƐŝĚĞƌƚŚĞĨĞĂƐŝďŝůŝƚLJŽĨƉůĂŶƚŝŶŐĨƌƵŝƚƚƌĞĞƐŝŶƉĂƌŬƐĂŶĚŽŶŝƚLJͲŽǁŶĞĚƉƌŽƉĞƌƚLJĂŶĚƉĂƌŬǁĂLJƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ EŽƚƐƚĂƌƚĞĚĚƵĞƚŽůŽǁ
ƉƌĞĐĞĚĞŶĐĞŽǀĞƌƉƌŝŽƌŝƚLJƉƌŽũĞĐƚƐ͕ĂŶĚƐƚĂĨĨƌĞƐŽƵƌĐĞůŝŵŝƚĂƚŝŽŶƐ͘

ATTACHMENT 2
74 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz>
s
> /DW>
D
Edd/KED
^hZ

^Z/Wd/KE >

Wd͘ ^ddh^
Z
^KE&KZ
,E'
^ ^ddh^KE^dZ/Ed^
K^d>;Ϳͬ^&
dz;^Ϳ
^Ͳϳ͘Ϭϭ͕^Ͳϳ͘ϬϮ
ϭϯ D
/hDWZ/KZ/dz WƌĞƉĂƌĞĂĨĞĂƐŝďŝůŝƚLJƐƚƵĚLJƚŽĚĞƚĞƌŵŝŶĞƚŚĞďĞƐƚůŽĐĂƚŝŽŶ ĨŽƌĂŶĞǁůŝĨĞŐƵĂƌĚŚĞĂĚƋƵĂƌƚĞƌƐ͘ŽŶƐŝĚĞƌĨƵƚƵƌĞƐĞĂůĞǀĞůƌŝƐĞ͕ůŽĐĂůĂŶĚůŽŶŐͲƚĞƌŵƐĂŶĚĞƌŽƐŝŽŶƌĂƚĞƐĂŶĚƚƌĞŶĚƐ͕ĂƐǁĞůůĂƐĂƉƉůŝĐĂďůĞŽĂƐƚĂůĐƚƉŽůŝĐŝĞƐ͘ WƵďůŝĐtŽƌŬƐ ^ƚĂƌƚĞĚ KŶͲŐŽŝŶŐ͗
ĨĨŽƌƚƐƚĂƌƚĞĚĂŶĚ
ĞdžƉĞĐƚĞĚƚŽďĞĐŽŵƉůĞƚĞŝŶ&zϮϬϮϰ͘

KEKD/
s
>KWD
Ed;
Ϳ

Ͳϭ͘Ϭϭ ϰ D
/hDWZ/KZ/dz ĚŽƉƚĂŶĚŝŵƉůĞŵĞŶƚĂŶ
ĐŽŶŽŵŝĐĞǀĞůŽƉŵĞŶƚ^ƚƌĂƚĞŐLJ
ƚŚĂƚĐŽŶƐŝĚĞƌƐĂƵƐŝŶĞƐƐZĞƚĞŶƚŝŽŶĂŶĚ
džƉĂŶƐŝŽŶ;Z
ͿƉƌŽŐƌĂŵ͕ŝŶĐůƵĚĞƐĂďƌĂŶĚŝŶŐĂŶĚƉƵďůŝĐƌĞůĂƚŝŽŶƐƉƌŽŐƌĂŵ͕ĂŶĚǁŽƌŬŝŶŐǁŝƚŚƚŚĞůŽĐĂůĂƌƚƐĐŽŵŵƵŶŝƚLJ͘dŚĞ^ƚƌĂƚĞŐLJƐŚĂůůĞŵƉŚĂƐŝnjĞƚŚĞŵŝĚͲĂŶĚůŽŶŐͲƚĞƌŵĚĞǀĞůŽƉŵĞŶƚŽĨƚŚĞůŽĐĂůĞĐŽŶŽŵLJƌĂƚŚĞƌƚŚĂŶĨŽĐƵƐŝŶŐŽŶŝŶĚŝǀŝĚƵĂůƉƌŽũĞĐƚƐ͘/ƚǁŝůůŝŶĐŽƌƉŽƌĂƚĞƚŚĞůŽŶŐͲƚĞƌŵŐŽĂůƐŽĨƚŚĞ'ĞŶĞƌĂůWůĂŶ͕ďƵƚŵĂLJĂůƐŽŝŶĐůƵĚĞĂĚĚŝƚŝŽŶĂůŐŽĂůƐǁŝƚŚƐŚŽƌƚĞƌƚŝŵĞŚŽƌŝnjŽŶƐ͘dŚĞ ĐŽŶŽŵŝĐĞǀĞůŽƉŵĞŶƚ^ƚƌĂƚĞŐLJƐŚĂůůĞƐƚĂďůŝƐŚŵĞĂƐƵƌĂďůĞŽďũĞĐƚŝǀĞƐĂŶĚĂƉĞƌĨŽƌŵĂŶĐĞĞǀĂůƵĂƚŝŽŶŵĞĐŚĂŶŝƐŵ͘ ŝƚLJDĂŶĂŐĞƌ EŽƚƐƚĂƌƚĞĚ ůƚŚŽƵŐŚƐ^ƚĂĨĨŚĂƐ
ŶŽƚƐƚĂƌƚĞĚŝŶŝƚŝĂƚĞĚ
ǁŽƌŬŽŶĚĞǀĞůŽƉŝŶŐƚŚĞĂŶ
ĐŽŶŽŵŝĐ
ĞǀĞůŽƉŵĞŶƚ^ƚƌĂƚĞŐLJĚŽĐƵŵĞŶƚ͘ĚƵĞƚŽ
ĨŽĐƵƐŽŶƉƌŝŽƌŝƚŝĞƐŝĚĞŶƚŝĨŝĞĚĚƵƌŝŶŐƚŚĞƉĂŶĚĞŵŝĐ͕ƐƚĂĨĨŚĂƐĐŽŵŵĞŶĐĞĚƚŚĞĐƌĞĂƚŝŽŶŽĨĂƵƐŝŶĞƐƐ/ŵƉƌŽǀĞŵĞŶƚŝƐƚƌŝĐƚ;/Ϳ dŽƌĞĨůĞĐƚƚŚĞǁŽƌŬƐƚĂĨĨŚĂƐĐŽŵƉůĞƚĞĚ
,/^dKZ/WZ
^
Zsd/KE;,WͿ
ϱď D
/hDWZ/KZ/dz ^ƵƌǀĞLJƉŽƚĞŶƚŝĂůŚŝƐƚŽƌŝĐƌĞƐŽƵƌĐĞƐƚŚĂƚĂƌĞŶŽƚĐƵƌƌĞŶƚůLJ ůŝƐƚĞĚŝŶƚŚĞŝƚLJ͛ƐůŝƐƚŽĨĚĞƐŝŐŶĂƚĞĚ>ĂŶĚŵĂƌŬƐĂŶĚ,ŝƐƚŽƌŝĐZĞƐŽƵƌĐĞƐ͕ƐƵĐŚĂƐƉŽƐƚͲǁĂƌ͕ŵŝĚͲĐĞŶƚƵƌLJŵŽĚĞƌŶ͕ĞƚĐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ dŚĞůĂƐƚĐŽŵƉƌĞŚĞŶƐŝǀĞ
ŚŝƐƚŽƌŝĐƌĞƐŽƵƌĐĞƐƵƌǀĞLJǁĂƐĐŽŵƉůĞƚĞĚŝŶϮϬϬϲ͘EŽƚƐƚĂƌƚĞĚĚƵĞƚŽƐĐŚĞĚƵůŝŶŐͬƚŝŵĞĐŽŶƐƚƌĂŝŶƚƐ͘^ƚĂĨĨŝƐƉƵƌƐƵŝŶŐ>'ŐƌĂŶƚƚŽĨƵŶĚƚŚŝƐĞĨĨŽƌƚŝŶ &z ϮϯͲϮϰ͘ ,/^dKZ/WZ
^
Zsd/KE;,WͿ
,WͲϭ͘Ϭϭ ϭϮ D
/hDWZ/KZ/dz ĞǀĞůŽƉĂŶĚĐŽŶƐŝĚĞƌĂĚŽƉƚŝŶŐĐƌŝƚĞƌŝĂĂŶĚƉƌŽĐĞĚƵƌĞƐĨŽƌ ĚĞƐŝŐŶĂƚŝŶŐŚŝƐƚŽƌŝĐĚŝƐƚƌŝĐƚƐĂŶĚƚŚĞŵĂƚŝĐŚŝƐƚŽƌŝĐĚŝƐƚƌŝĐƚƐ͘ ŽŶƐŝĚĞƌĞƐƚĂďůŝƐŚŝŶŐĂŚŝƐƚŽƌŝĐĚŝƐƚƌŝĐƚƚŚĂƚϭͿƉƌŽǀŝĚĞŚŝƐƚŽƌŝĐƉƌĞƐĞƌǀĂƚŝŽŶŝŶĐĞŶƚŝǀĞƐ͕ϮͿĞŶĨŽƌĐĞŚŝƐƚŽƌŝĐƉƌĞƐĞƌǀĂƚŝŽŶŵĞĂƐƵƌĞƐŝŶƚŚĞŽŶŝŶŐKƌĚŝŶĂŶĐĞ͕ĂŶĚϯͿŝŶĐůƵĚĞĞůŝŐŝďŝůŝƚLJĐƌŝƚĞƌŝĂĨŽƌƚŚĞĚĞƐŝŐŶĂƚŝŽŶŽĨƉŽƚĞŶƚŝĂůĚŝƐƚƌŝĐƚĐŽŶƚƌŝďƵƚŝŶŐƉƌŽƉĞƌƚŝĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
^ƚĂƌƚĞĚ tŽƌŬŝƐƵŶĚĞƌǁĂLJŽŶĂ
ŚŝƐƚŽƌŝĐĚŝƐƚƌŝĐƚĨŽƌEŽƌƚŚĞĂĐŚǁŝƚŚŐƌĂŶƚĨƵŶĚŝŶŐ͘ĞƐŝŐŶĂƚŝŽŶŽĨƚŚĞŚŝƐƚŽƌŝĐĚŝƐƚƌŝĐƚŽŶƚŚĞEĂƚŝŽŶĂůZĞŐŝƐƚĞƌŽĨ,ŝƐƚŽƌŝĐWůĂĐĞƐŽĐĐƵƌƌĞĚŝŶ:ĂŶƵĂƌLJϮϬϮϭ͘ >Eh^
;>hͿ
>hͲϴ͘Ϭϭ͕>hͲϴ͘ϬϮ
ϲ D
/hDWZ/KZ/dz hƉĚĂƚĞƚŚĞZĂŶĐŚŽ^ĂŶůĞŵĞŶƚĞ^ƉĞĐŝĨŝĐWůĂŶƵƐŝŶĞƐƐ ĂŶĚ/ŶĚƵƐƚƌŝĂůWĂƌŬƌĞŐƵůĂƚŝŽŶƐƚŽƐƚƌĞĂŵůŝŶĞƚŚĞĞƐƚĂďůŝƐŚŵĞŶƚŽĨďƵƐŝŶĞƐƐĐŽŶƐŝƐƚĞŶƚǁŝƚŚƚŚĞƉƵƌƉŽƐĞĂŶĚŝŶƚĞŶƚŽĨƚŚĞƐĞĂƌĞĂƐ͕ƐƵĐŚĂƐƚŚĞƌĞůŽĐĂƚŝŽŶŽĨĂƵƚŽŵŽƚŝǀĞƵƐĞƐĨƌŽŵ ůĂŵŝŶŽZĞĂů͘
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚ^ƚĂƌƚĞĚ ƵƚŽͲƌĞůĂƚĞĚƵƐĞƐĂŶĚ
ƉŽůŝĐŝĞƐƵƉĚĂƚĞĚǁŝƚŚŽŶͲŐŽŝŶŐƵƉĚĂƚĞƐƚŽ^ƉĞĐŝĨŝĐWůĂŶƐ͘ŽŵƉůĞƚĞĚ ^ƉĞĐŝĨŝĐWůĂŶĂŵĞŶĚŵĞŶƚƐŝŶŝƚŝĂƚĞĚƵŐƵƐƚϮϬϮϭŽŵƉůĞƚĞĚ >Eh^
;>hͿ
>hͲϭϬ ϭϰ D
/hDWZ/KZ/dz ŽŶƐŝĚĞƌĚĞƐŝŐŶŐƵŝĚĞůŝŶĞƐĂŶĚnjŽŶŝŶŐƐƚĂŶĚĂƌĚƐĨŽƌEŽƌƚŚ ĞĂĐŚƚŚĂƚŝŵƉůĞŵĞŶƚŐŽĂůƐĂŶĚƉŽůŝĐŝĞƐĨŽƌƚŚĞEŽƌƚŚĞĂĐŚͬEŽƌƚŚ ůĂŵŝŶŽZĞĂů&ŽĐƵƐƌĞĂ͘
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ tŽƌŬƚŽĨŽůůŽǁƵƉĚĂƚĞƐŽĨ
^ƉĞĐŝĨŝĐWůĂŶƐŽĨĂƌĞĂƐŝŶƚŚĞŽĂƐƚĂůŽŶĞ͘ƵƉĚĂƚĞƐƚŽƚŚĞ>W͘

ATTACHMENT 2
75 I
I I
I I I
1' I I
I

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz>
s
> /DW>
D
Edd/KED
^hZ

^Z/Wd/KE >

Wd͘ ^ddh^
Z
^KE&KZ
,E'
^ ^ddh^KE^dZ/Ed^
>Eh^
;>hͿ
>hͲϳ͘ϬϮ͕>hͲϳ͘Ϭϯ
ϱ D
/hDWZ/KZ/dz DĞĞƚǁŝƚŚŵĞĚŝĐĂůŽĨĨŝĐĞƉƌŽĨĞƐƐŝŽŶĂůƐĂŶĚŚŽƐƉŝƚĂů ĂĚŵŝŶŝƐƚƌĂƚŝŽŶƚŽďĞƚƚĞƌƵŶĚĞƌƐƚĂŶĚƚŚĞŝƌŶĞĞĚƐĂŶĚƵƐĞŽĨŝƚLJƌĞƐŽƵƌĐĞƐ͕ĂŶĚƉƌŽǀŝĚĞůĞĂĚĞƌƐŚŝƉƚŽŚĞůƉƚŚĞŵďĞƚƚĞƌĂĐĐŽŵƉůŝƐŚƚŚĞŝƚLJ͛ƐŐŽĂůƐĂŶĚŽďũĞĐƚŝǀĞƐ͘ ŝƚLJDĂŶĂŐĞƌ ŽŵƉůĞƚĞĚ ^ƚĂĨĨĐŽŶƚŝŶƵĞƐƚŽƐĞĞŬ
ŽƉƚŝŽŶƐƚŽďĞƚƚĞƌĂĚĚƌĞƐƐŵĞĚŝĐĂůƐĞƌǀŝĐĞƐŝŶ^ĂŶůĞŵĞŶƚĞ͘dŚĞŝƚLJĐŽŶƐŝĚĞƌĞĚŽŶŝŶŐĐŚĂŶŐĞƐ͕ŽƵŶĐŝůƚĂďůĞĚŝŶϮϬϮϬ͘^ƚĂĨĨĂŶĚŽƵŶĐŝůŚĂǀĞďĞĞŶĐŽŶƚĂĐƚĞĚďLJƉŽƚĞŶƚŝĂůŽƉĞƌĂƚŽƌƐĂƚƚŚĞĨŽƌŵĞƌŚŽƐƉŝƚĂůƐŝƚĞ͘ŽƵŶĐŝůĂƵƚŚŽƌŝnjĞĚĂƐƵƌǀĞLJƚŽŐĂƵŐĞƚŚĞƉƵďůŝĐ͛ƐŝŶƚĞƌĞƐƚŝŶĂŚŽƐƉŝƚĂůĚŝƐƚƌŝĐƚ͘ZĞƐƵůƚƐǁĞƌĞƉƌĞƐĞŶƚĞĚŽŶ:ĂŶƵĂƌLJϭϴ͕ϮϬϮϮ͘ tĞ͛ǀĞĐŽŵƉůĞƚĞĚƚŚŝƐǁŽƌŬ
ŽǀĞƌƚŚĞƉĂƐƚƐĞǀĞŶLJĞĂƌƐ͘dŚĞŝƚLJǁŝůůŚŽůĚĂƚŽǁŶŚĂůůŝŶDĂƌĐŚϮϬϮϮ͘ >Eh^
;>hͿ
>hͲϭϭ͘Ϭϵ ϮϮ D
/hDWZ/KZ/dz ĞǀĞůŽƉĂŽǁŶƚŽǁŶ/ŵƉƌŽǀĞŵĞŶƚWůĂŶƚŽŝŵƉƌŽǀĞ ƐŝĚĞǁĂůŬƋƵĂůŝƚLJĂŶĚĐŽŶƐŝƐƚĞŶĐLJĂŶĚƚŽĞŶĐŽƵƌĂŐĞƚŚĞĐŽŶƐƚƌƵĐƚŝŽŶĂŶĚĞdžƉĂŶƐŝŽŶŽĨƉƵďůŝĐƐƉĂĐĞƐ͕ƐƵĐŚĂƐĐŽƵƌƚLJĂƌĚƐ͕ƉůĂnjĂƐĂŶĚƉĂƐĞŽƐ͘ WƵďůŝĐtŽƌŬƐ EŽƚƐƚĂƌƚĞĚ ůĂƌŝĨŝĐĂƚŝŽŶ ^ĐŚĞĚƵůŝŶŐͬdŝŵŝŶŐͲ dĞŶƚĂƚŝǀĞĨŽƌ&zϮϬϮϰŽƌ&zϮϱ&ƵƚƵƌĞƉƌŽũĞĐƚĂůŽŶŐĞůDĂƌ DK/>/dzEKDW>
d
^dZ

d^
;DͿ
DͲϭ͘Ϭϭ͕DͲϭ͘ϭϭ͕DͲϭ͘ϭϮ͕DͲϭ͘ϭϯ
ϭ D
/hDWZ/KZ/dz ĚŽƉƚĂ^ƚƌĞĞƚĞƐŝŐŶDĂŶƵĂůďĂƐĞĚŽŶƚŚĞDŽĚĞůĞƐŝŐŶ DĂŶƵĂůŽĨ>ŝǀŝŶŐ^ƚƌĞĞƚƐ͘
WƵďůŝĐtŽƌŬƐ EŽƚƐƚĂƌƚĞĚ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ͕&ƵŶĚŝŶŐ >ŝŵŝƚĂƚŝŽŶƐ EŽƚƐƚĂƌƚĞĚ͕ĞƉĞŶĚĞŶƚŽŶĨŝůůŝŶŐƉŽƐŝƚŝŽŶ͘ EdhZ>Z
^KhZ
^;WZͿ
EZͲϮ͘Ϭϳ ϴ D
/hDWZ/KZ/dz dŚĞŝƚLJǁŝůůĚĞǀĞůŽƉĂŶĚŝŵƉůĞŵĞŶƚĂƵƚŝůŝƚŝĞƐ ƵŶĚĞƌŐƌŽƵŶĚŝŶŐƉůĂŶƚŽĂǀŽŝĚƚŚĞĂĚǀĞƌƐĞŝŵƉĂĐƚƐƚŽĂĞƐƚŚĞƚŝĐƌĞƐŽƵƌĐĞƐŽĨƉƵďůŝĐƵƚŝůŝƚŝĞƐĂŶĚƵŶŵĂŶŶĞĚƚĞůĞĐŽŵŵƵŶŝĐĂƚŝŽŶƐĨĂĐŝůŝƚŝĞƐ͕ǁŚĞƌĞĨĞĂƐŝďůĞĂŶĚǁŚĞƌĞĐŽƐƚƐŽĨƐƵĐŚƵŶĚĞƌŐƌŽƵŶĚŝŶŐĚŽŶŽƚƉŽƐĞĞĐŽŶŽŵŝĐŚĂƌĚƐŚŝƉ͘tŚĞƌĞƵŶĚĞƌŐƌŽƵŶĚŝŶŐŝƐĚĞƚĞƌŵŝŶĞĚďLJƚŚĞŝƚLJƚŽŶŽƚďĞƉŚLJƐŝĐĂůůLJƉŽƐƐŝďůĞ͕ƐƵĐŚĨĞĂƚƵƌĞƐƐŚĂůůďĞůŽĐĂƚĞĚĂŶĚĚĞƐŝŐŶĞĚƚŽƌĞĚƵĐĞƚŚĞŝƌǀŝƐŝďŝůŝƚLJĂŶĚŝŶĚĞǀĞůŽƉĞĚĂƌĞĂƐ͕ĐŽŶƐŝƐƚĞŶƚǁŝƚŚƉƌĞǀĂŝůŝŶŐĂƌĐŚŝƚĞĐƚƵƌĂůĐŚĂƌĂĐƚĞƌĂŶĚƐĐĂůĞ͘/ŶďĞĂĐŚĞƐ͕ƉĂƌŬƐĂŶĚŽƉĞŶƐƉĂĐĞƐĂƌĞĂƐ͕ƐƵĐŚĨĂĐŝůŝƚŝĞƐƐŚĂůůďĞĚĞƐŝŐŶĞĚĂŶĚůŽĐĂƚĞĚƚŽďůĞŶĚŝŶǁŝƚŚŶĂƚƵƌĂůĐŽůŽƌƐ͕ƚĞdžƚƵƌĞƐĂŶĚůĂŶĚĨŽƌŵƐ͘ WƵďůŝĐtŽƌŬƐ KŶ,ŽůĚ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ͕&ƵŶĚŝŶŐ >ŝŵŝƚĂƚŝŽŶƐ͘EĞdžƚŝƚLJŽƵŶĐŝůĂƉƉƌŽǀĞĚƉƌŽũĞĐƚĨŽƌĚŽǁŶƚŽǁŶĂǁĂŝƚŝŶŐ^'Θ ĨƵŶĚŝŶŐ͘

ATTACHMENT 2

76 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz>
s
> /DW>
D
Edd/KED
^hZ

^Z/Wd/KE >

Wd͘ ^ddh^
Z
^KE&KZ
,E'
^ ^ddh^KE^dZ/Ed^
EdhZ>Z
^KhZ
^;EZͿ
EZͲϭ͘ϬϮ͕EZͲϭ͘Ϭϯ͕EZͲϭ͘Ϭϰ͕EZͲϭ͘Ϭϱ͕EZͲϭ͘Ϭϲ
ϰ D
/hDWZ/KZ/dz ZĞǀŝĞǁƚŚĞŽŶŝŶŐKƌĚŝŶĂŶĐĞĂŶĚĂŵĞŶĚŝĨŶĞĐĞƐƐĂƌLJƚŽ ĞŶƐƵƌĞƌĞŐƵůĂƚŝŽŶƐĂĚĞƋƵĂƚĞůLJĂĚĚƌĞƐƐŶŽŶͲĐŽŵƉĂƚŝďůĞůĂŶĚƵƐĞƐŝŶŚĂďŝƚĂƚĂƌĞĂƐĂŶĚƉĂƐƐŝǀĞŽƉĞŶƐƉĂĐĞ͕ƐƵĐŚĂƐĐŽŵŵĞƌĐŝĂůƵƐĞƐ͕ŽĨĨͲƌŽĂĚŵŽƚŽƌŝnjĞĚǀĞŚŝĐůĞƵƐĞ͕ŽĨĨͲƚƌĂŝů͕ŶŽŶͲŵŽƚŽƌŝnjĞĚǀĞŚŝĐůĞƵƐĞ͕ŚĂŶŐŐůŝĚŝŶŐ͕ŐƌĂĚŝŶŐŽƌŽƚŚĞƌĂĐƚŝǀŝƚŝĞƐƚŚĂƚĐŽŶĨůŝĐƚǁŝƚŚďŝŽůŽŐŝĐĂůĐŽŶƐĞƌǀĂƚŝŽŶŐŽĂůƐŽƌƉŽůŝĐŝĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚŽŵƉůĞƚĞĚ ŽŵƉůĞƚĞĚ tŽƌŬƚŽĨŽůůŽǁƵƉĚĂƚŝŶŐ ^ƉĞĐŝĨŝĐWůĂŶƐĨŽƌĐŽŶƐŝƐƚĞŶĐLJǁŝƚŚƚŚĞ'ĞŶĞƌĂůWůĂŶ͕ĂŶĚĨŽůůŽǁƵƉĚĂƚĞƐƚŽƚŚĞ>W͘EŽƚƐƚĂƌƚĞĚĚƵĞƚŽƐĐŚĞĚƵůŝŶŐͬƚŝŵĞĐŽŶƐƚƌĂŝŶƚƐ͕ůŽǁƉƌĞĐĞĚĞŶĐĞŽǀĞƌƉƌŝŽƌŝƚLJƉƌŽũĞĐƚƐ͕ĂŶĚƐƚĂĨĨƌĞƐŽƵƌĐĞůŝŵŝƚĂƚŝŽŶƐ͘ŽŵƉůĞƚĞĚ EdhZ>Z
^KhZ
^;EZͿ
EZͲϮ͘Ϭϭ ϲ D
/hDWZ/KZ/dz ZĞǀŝĞǁƚŚĞŽŶŝŶŐKƌĚŝŶĂŶĐĞ͕,ŝůůƐŝĚĞĞǀĞůŽƉŵĞŶƚ KƌĚŝŶĂŶĐĞĂŶĚŽƚŚĞƌŝƚLJƐƚĂŶĚĂƌĚƐĂŶĚĂŵĞŶĚŝĨŶĞĐĞƐƐĂƌLJƚŽĞŶƐƵƌĞƌĞŐƵůĂƚŝŽŶƐĂŶĚŐƵŝĚĞůŝŶĞƐĂĚĞƋƵĂƚĞůLJĂĚĚƌĞƐƐƌŝĚŐĞůŝŶĞƉƌĞƐĞƌǀĂƚŝŽŶ͕ĂĐĐĞƐƐƌŽĂĚƐ͕ĚƌŝǀĞǁĂLJĂŶĚƐŝƚĞĚĞƐŝŐŶ͕ĂŶĚĂƌĐŚŝƚĞĐƚƵƌĂůĂŶĚƐŝŐŶĚĞƐŝŐŶƚŽƉƌŽƚĞĐƚŚŝůůƐŝĚĞƐ͕ĐŽĂƐƚĂůĐĂŶLJŽŶƐĂŶĚďůƵĨĨƐ͕ĂŶĚďĞĂĐŚĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ tŽƌŬƚŽĨŽůůŽǁƵƉĚĂƚŝŶŐ
^ƉĞĐŝĨŝĐWůĂŶƐĨŽƌĐŽŶƐŝƐƚĞŶĐLJǁŝƚŚƚŚĞ'ĞŶĞƌĂůWůĂŶ͕ĂŶĚƵƉĚĂƚĞƐƚŽƚŚĞ ĨŽůůŽǁƚŚĞ>W͘EŽƚ ƐƚĂƌƚĞĚĚƵĞƚŽƐĐŚĞĚƵůŝŶŐͬƚŝŵĞĐŽŶƐƚƌĂŝŶƚƐ͕ůŽǁƉƌĞĐĞĚĞŶĐĞŽǀĞƌƉƌŝŽƌŝƚLJƉƌŽũĞĐƚƐ͕ĂŶĚƐƚĂĨĨƌĞƐŽƵƌĐĞůŝŵŝƚĂƚŝŽŶƐ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϰ͘Ϭϱ
ϮϬ D
/hDWZ/KZ/dz ŽŶƐŝĚĞƌĂŵĞŶĚŝŶŐƚŚĞŽŶŝŶŐKƌĚŝŶĂŶĐĞƚŽĞŶĐŽƵƌĂŐĞ ĐŚŝůĚĐĂƌĞĨĂĐŝůŝƚŝĞƐƚŽďĞĞƐƚĂďůŝƐŚĞĚ͕ĞƐƉĞĐŝĂůůLJǁŚĞƌĞƐƵĐŚĨĂĐŝůŝƚŝĞƐĂƌĞĂƉƉƌŽƉƌŝĂƚĞƚŽƐĞƌǀĞǁŽƌŬŝŶŐƉĂƌĞŶƚƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚŽŵƉůĞƚĞĚ ŽŵƉůĞƚĞĚ ĚŽƉƚĞĚŽƌĚŝŶĂŶĐĞ
ĐŽŶƐŝƐƚĞŶƚǁŝƚŚƐƚĂƚĞůĂǁƚŚĂƚƌĞƋƵŝƌĞƐĐŝƚŝĞƐƚŽĨĂĐŝůŝƚĂƚĞƚŚĞĞƐƚĂďůŝƐŚŵĞŶƚŽĨƚŚĞƐĞƵƐĞƐ͘ŽŵƉůĞƚĞĚ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&h'ŽĂůϮ
ϴ D
/hDWZ/KZ/dz
džƉůŽƌĞŽƉƉŽƌƚƵŶŝƚŝĞƐƚŽĞdžƉĂŶĚůŝďƌĂƌLJƐĞƌǀŝĐĞƐƚŚƌŽƵŐŚ ĐƌĞĂƚŝǀĞƉƵďůŝĐͬƉƌŝǀĂƚĞͬŶŽŶͲƉƌŽĨŝƚƉĂƌƚŶĞƌƐŚŝƉƐ͕ĞŝƚŚĞƌĂƐĂƐƵƉƉůĞŵĞŶƚŽƌĂůƚĞƌŶĂƚŝǀĞƚŽƚŚĞŽƵŶƚLJŽƉĞƌĂƚŝŽŶ͘ ŝƚLJDĂŶĂŐĞƌ ŽŵƉůĞƚĞĚ
džƉůŽƌĞĚŝŶϮϬϭϳĂŶĚ
ĂŐĂŝŶŝŶϮϬϮϮ͘
dŽƌĞĨůĞĐƚǁŽƌŬĐŽŵƉůĞƚĞĚ
ďLJŝƚLJŽƵŶĐŝůĂŶĚŝƚLJ^ƚĂĨĨ͖ƵƉĚĂƚĞĚŶŽƚĞƐŽŶƐƚĂƚƵƐ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
EZͲϮ͘Ϭϳ ϰϴ D
/hDWZ/KZ/dz hƉĚĂƚĞƉƌŝŽƌŝƚŝĞƐĨŽƌƚŚĞƵŶĚĞƌŐƌŽƵŶĚŝŶŐŽĨŽǀĞƌŚĞĂĚƵƚŝůŝƚLJ ůŝŶĞƐ͕ŝŶĐůƵĚŝŶŐŝŵƉůĞŵĞŶƚĂƚŝŽŶƉůĂŶĂŶĚĨƵŶĚŝŶŐƐƚƌĂƚĞŐŝĞƐ͘ WƵďůŝĐtŽƌŬƐ KŶ,ŽůĚ ůĂƌŝĨŝĐĂƚŝŽŶ ^ĐŚĞĚƵůŝŶŐͬdŝŵŝŶŐ͕^ƚĂĨĨŝŶŐ ZĞƐŽƵƌĐĞƐͲEĞdžƚŝƚLJŽƵŶĐŝů
ĂƉƉƌŽǀĞĚƉƌŽũĞĐƚĨŽƌĚŽǁŶƚŽǁŶĂǁĂŝƚŝŶŐ^'Θ
ĨƵŶĚŝŶŐ͘

ATTACHMENT 2
77 I I

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz>
s
> /DW>
D
Edd/KED
^hZ

^Z/Wd/KE >

Wd͘ ^ddh^
Z
^KE&KZ
,E'
^ ^ddh^KE^dZ/Ed^
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲ'ŽĂůϵ
ϰϳ D
/hDWZ/KZ/dz /ŵƉůĞŵĞŶƚƚŚĞůŝŵĂƚĞĐƚŝŽŶWůĂŶĂŶĚ^ƵƐƚĂŝŶĂďŝůŝƚLJ ĐƚŝŽŶWůĂŶ͘
hƚŝůŝƚŝĞƐ EŽƚƐƚĂƌƚĞĚ ^ƉĞĐŝĨŝĐĂĐƚŝŽŶƐ
ĐŽŶƐŝĚĞƌĞĚŝŶĂŶŶƵĂůďƵĚŐĞƚƉƌŽĐĞƐƐ͘&ƵŶĚŝŶŐĂŶĚƌĞƐŽƵƌĐĞƐĂƌĞŶĞĞĚĞĚƚŽŝŵƉůĞŵĞŶƚƚŚŝƐƉƌŽŐƌĂŵ͘ ^&
dz;^Ϳ ^Ͳϰ͘Ϭϴ ϭϯ D
/hDWZ/KZ/dz ĚŽƉƚĂŶĚŵĂŝŶƚĂŝŶĂŝƚLJƉŽůŝĐLJŽĨďĞƐƚŵĂŶĂŐĞŵĞŶƚ ƉƌĂĐƚŝĐĞƐĨŽƌůŝǀĞĞŶƚĞƌƚĂŝŶŵĞŶƚƵƐĞƐƚŽŵŝƚŝŐĂƚĞŶŽŝƐĞŝŵƉĂĐƚƐŽŶƌĞƐŝĚĞŶƚŝĂůŽƌŽƚŚĞƌƐĞŶƐŝƚŝǀĞƵƐĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
^ƚĂƌƚĞĚ WĞŶĚŝŶŐĨƵůĨŝůůŵĞŶƚŽĨ
ǀĂĐĂŶƚƉŽƐŝƚŝŽŶƐ͘
ŝƚLJĂĚŽƉƚĞĚŝŶƚĞƌŶĂůƐƚĂŶĚĂƌĚƉƌŽĐĞĚƵƌĞĨŽƌĂŵƉůŝĨŝĞĚƐŽƵŶĚĐŽŶƐŝƐƚĞŶƚǁŝƚŚƚŚĞŵƵŶŝĐŝƉĂůĐŽĚĞ͘ZĞŵĂŝŶŝŶŐǁŽƌŬŽŶŚŽůĚ ĚƵĞƚŽƐƚĂĨĨŝŶŐĐŽŶƐƚƌĂŝŶƚƐ͘
^&
dz;^Ϳ ^Ͳϳ͘Ϭϳ Ϯϭ D
/hDWZ/KZ/dz hƉĚĂƚĞƚŚĞŝƚLJ͛ƐĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐƚŽĂĚĚƌĞƐƐĐƌŝŵĞ ƉƌĞǀĞŶƚŝŽŶĨĞĂƚƵƌĞƐŝŶƚŚĞŽƌŝĞŶƚĂƚŝŽŶĂŶĚĚĞƐŝŐŶŽĨŶĞǁďƵŝůĚŝŶŐƐĂŶĚƉƵďůŝĐĨĂĐŝůŝƚŝĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ ŽŶƐŝĚĞƌĂĨƚĞƌƵƉĚĂƚĞƐƚŽ
ŽŶŝŶŐĂŶĚ^ƉĞĐŝĨŝĐWůĂŶĨŽƌ
'ĞŶĞƌĂůWůĂŶĐŽŶƐŝƐƚĞŶĐLJ͕ƚŚĞ>W͕ĂŶĚŽƚŚĞƌŚŝŐŚƉƌŝŽƌŝƚLJŝƚĞŵƐ͘EŽƚƐƚĂƌƚĞĚĚƵĞƚŽůŽǁƉƌĞĐĞĚĞŶĐĞŽǀĞƌƉƌŝŽƌŝƚLJƉƌŽũĞĐƚƐ͕ĂŶĚƐƚĂĨĨƌĞƐŽƵƌĐĞůŝŵŝƚĂƚŝŽŶƐ͘ hZE
^/'E
hͲϭ͘ϭϭ ϰ D
/hDWZ/KZ/dz ZĞĞdžĂŵŝŶĞƉƵďůŝĐƐƉĂĐĞͬŽƵƚĚŽŽƌĂƌĞĂƌĞƋƵŝƌĞŵĞŶƚƐŝŶƚŚĞ ŽŶŝŶŐKƌĚŝŶĂŶĐĞĂŶĚƐƉĞĐŝĨŝĐƉůĂŶƐƚŽŝĚĞŶƚŝĨLJŽƉƉŽƌƚƵŶŝƚŝĞƐƚŽĐƌĞĂƚĞŶĞǁƉƵďůŝĐƐƉĂĐĞƐŽƌĞdžƉĂŶĚĞdžŝƐƚŝŶŐŽŶĞƐĂŶĚƚŽƌĞŵŽǀĞďĂƌƌŝĞƌƐƚŽƚŚĞŝƌŝŵƉůĞŵĞŶƚĂƚŝŽŶ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ tŽƌŬƚŽĨŽůůŽǁƵƉĚĂƚŝŶŐ
^ƉĞĐŝĨŝĐWůĂŶƐĨŽƌĐŽŶƐŝƐƚĞŶĐLJǁŝƚŚƚŚĞ'ĞŶĞƌĂůWůĂŶ͕ĂŶĚĨŽůůŽǁƵƉĚĂƚĞƐƚŽƚŚĞ >W͘KŶͲŚŽůĚĚƵĞƚŽ
ƐĐŚĞĚƵůŝŶŐͬƚŝŵĞĐŽŶƐƚƌĂŝŶƚƐĂŶĚůŽǁƉƌĞĐĞĚĞŶĐĞŽǀĞƌƉƌŝŽƌŝƚLJƉƌŽũĞĐƚƐ͘ hZE
^/'E;hͿ
>hͲϭϭ͘Ϭϯ ϳ D
/hDWZ/KZ/dz ZĞǀŝĞǁĂŶĚǁŚĞƌĞĂƉƉƌŽƉƌŝĂƚĞ͕ĂŵĞŶĚnjŽŶŝŶŐƐƚĂŶĚĂƌĚƐ ĂŶĚĚĞƐŝŐŶŐƵŝĚĞůŝŶĞƐƚŽĂůůŽǁĂĚĚĞĚĨůĞdžŝďŝůŝƚLJŝŶůĂŶĚƵƐĞƐŝŶƚŚĞŽǁŶƚŽǁŶͬdͲŽŶĞ&ŽĐƵƐƌĞĂƚŽƌĞƐƉŽŶĚƚŽĐŚĂŶŐŝŶŐĞĐŽŶŽŵŝĐŵĂƌŬĞƚĨŽƌĐĞƐŽǀĞƌƚŝŵĞ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
^ƚĂƌƚĞĚďƵƚŝŶĂĐƚŝǀĞ KŶͲŚŽůĚƐŝŶĐĞϮϬϭϱƉĞŶĚŝŶŐ
ƵƉĚĂƚĞƐƚŽŝƚLJĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐǁŚĞŶĚĞƐŝŐŶƉƌŝŶĐŝƉůĞƐĨŽƌƐƚĂŶĚͲĂůŽŶĞƌĞƐŝĚĞŶƚŝĂůƵƐĞƐŝŶƚŚĞƐĞĂƌĞĂƐǁŝůůďĞĐŽŶƐŝĚĞƌĞĚ͘

ATTACHMENT 2
78 I

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz>
s
> /DW>
D
Edd/KED
^hZ

^Z/Wd/KE >

Wd͘ ^ddh^
Z
^KE&KZ
,E'
^ ^ddh^KE^dZ/Ed^
hZE
^/'E;hͿ
hͲϱ͘Ϭϱ ϭϯ D
/hDWZ/KZ/dz hƉĚĂƚĞƚŚĞĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐƚŽĐůĂƌŝĨLJĞŶĐŽƵƌĂŐĞĚĚĞƐŝŐŶ ƉƌŝŶĐŝƉůĞƐĨŽƌ^ƉĂŶŝƐŚŽůŽŶŝĂůZĞǀŝǀĂů͕ŝŶĐůƵĚŝŶŐƚŚĞŝŶĐŽƌƉŽƌĂƚŝŽŶŽĨƚŚĞ,ĞŶƌLJ>ĞŶŶLJĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ tŽƌŬƉĞŶĚŝŶŐŽŶĨƵŶĚŝŶŐŽĨ
ĐŽŶƐƵůƚĂŶƚƐĞƌǀŝĐĞ͘ƵƉĚĂƚĞƚŽŝƚLJͲǁŝĚĞŐƵŝĚĞůŝŶĞƐ͘,ŽǁĞǀĞƌ͕ĐƵƌƌĞŶƚĞĨĨŽƌƚƐƵŶĚĞƌǁĂLJƚŽĐƌĞĂƚĞŽďũĞĐƚŝǀĞĚĞƐŝŐŶƐƚĂŶĚĂƌĚƐŝŶƚŚĞnjŽŶŝŶŐĐŽĚĞǁŚŝĐŚǁŝůůĨĂĐŝůŝƚĂƚĞƚŚŝƐĞĨĨŽƌƚ͘ĞƐŝŐŶŐƵŝĚĞůŝŶĞƵƉĚĂƚĞƐǁŝůůďĞƉƌŝŽƌŝƚŝnjĞĚĂŶĚƐĐŚĞĚƵůĞĚĂĨƚĞƌƵƉĚĂƚĞƐƚŽ^ƉĞĐŝĨŝĐWůĂŶƐĨŽƌ'ĞŶĞƌĂůWůĂŶĐŽŶƐŝƐƚĞŶĐLJ͕ĂŶĚĨŽůůŽǁŝŶŐƚŚĞ>W͕ďĂƐĞĚŽŶƌĞƐŽƵƌĐĞƐ͘ hZE
^/'E;hͿ
hͲϱ͘ϭϯ ϭϳ D
/hDWZ/KZ/dz hƉĚĂƚĞŽŶŝŶŐKƌĚŝŶĂŶĐĞƚŽĂǀŽŝĚƉĞŶĂůŝnjŝŶŐĐŽŵŵĞƌĐŝĂů ĚĞǀĞůŽƉŵĞŶƚƐƚŚĂƚŝŶĐůƵĚĞĞdžƚĞƌŝŽƌƉĂƚŝŽƐ͕ƉĂƐĞŽƐĂŶĚŽƚŚĞƌƐŝŵŝůĂƌŽƵƚĚŽŽƌƵƐĞĂƌĞĂƐďLJĂůůŽǁŝŶŐƵƐĂďůĞŽƵƚĚŽŽƌƐƉĂĐĞƐƚŽŵĞĞƚŵŝŶŝŵƵŵ&ůŽŽƌƌĞĂZĂƚŝŽƌĞƋƵŝƌĞŵĞŶƚƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ tŽƌŬƚŽĨŽůůŽǁƵƉĚĂƚŝŶŐ
^ƉĞĐŝĨŝĐWůĂŶƐĨŽƌĐŽŶƐŝƐƚĞŶĐLJǁŝƚŚƚŚĞ'ĞŶĞƌĂůWůĂŶ͕ĂŶĚĨŽůůŽǁƵƉĚĂƚĞƐƚŽƚŚĞ >W͘KŶͲŚŽůĚĚƵĞƚŽ
ƐĐŚĞĚƵůŝŶŐͬƚŝŵĞĐŽŶƐƚƌĂŝŶƚƐĂŶĚƐƚĂĨĨƌĞƐŽƵƌĐĞůŝŵŝƚĂƚŝŽŶƐ hZE
^/'E;hͿ
hͲϱ͘Ϭϴ ϭϵ D
/hDWZ/KZ/dz hƉĚĂƚĞĚĞƐŝŐŶŐƵŝĚĞůŝŶĞƐŝŶƚŚĞtĞƐƚWŝĐŽŽƌƌŝĚŽƌ^ƉĞĐŝĨŝĐ WůĂŶƚŽƉƌŽǀŝĚĞŶĞǁĚĞƐŝŐŶŐƵŝĚĂŶĐĞĨŽƌĂƌĐŚŝƚĞĐƚƵƌĞĂŶĚůĂŶĚƐĐĂƉĞĐŚĂƌĂĐƚĞƌ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
^ƚĂƌƚĞĚŽŵƉůĞƚĞĚ WƌŽũĞĐƚŝŶŝƚŝĂƚĞĚ
ƵŐƵƐƚϮϬϮϭŝŶĐůƵĚĞĚǁŝƚŚ^ƉĞĐŝĨŝĐWůĂŶƵƉĚĂƚĞƐĨŽƌ'ĞŶĞƌĂůWůĂŶĐŽŶƐŝƐƚĞŶĐLJ͘ŽŵƉůĞƚĞĚ ŽŵƉůĞƚĞĚ
hZE
^/'E;hͿ
hͲϮ͘Ϭϱ͕hͲϲ͘Ϭϲ
Ϯϰ D
/hDWZ/KZ/dz hƉĚĂƚĞƚŚĞDĂƐƚĞƌ>ĂŶĚƐĐĂƉĞWůĂŶĨŽƌ^ĐĞŶŝĐŽƌƌŝĚŽƌƐĨŽƌ ĐŽŶƐŝƐƚĞŶĐLJǁŝƚŚƚŚĞ'ĞŶĞƌĂůWůĂŶ͕>ŽĐĂůŽĂƐƚĂůWƌŽŐƌĂŵ͕ĂŶĚ^ƚĂƚĞƌĞŐƵůĂƚŝŽŶƐ͘dŚĞƵƉĚĂƚĞǁŝůůƌĞĐŽŶƐŝĚĞƌƚŚĞƚƌĞĞƉĂůĞƚƚĞ͕ƐŝnjĞ͕ƐƉĂĐŝŶŐ͕ĂŶĚŝƌƌŝŐĂƚŝŽŶŐƵŝĚĞůŝŶĞƐĨŽƌƐƚƌĞĞƚƐ͕ŶĞŝŐŚďŽƌŚŽŽĚƐ͕ĂŶĚĚŝƐƚƌŝĐƚƐ͕ďĂƐĞĚŽŶƐĞǀĞƌĂůĨĂĐƚŽƌƐƐƵĐŚĂƐǁĂƚĞƌƵƐĞ͕ĚĞƐŝƌĞĚǀŝƐƵĂůĐŚĂƌĂĐƚĞƌ͕ƉůĂŶƚĐŽǀĞƌĂŐĞ͕ƚŽƉŽŐƌĂƉŚLJ͕ƉƵďůŝĐǀŝĞǁĐŽƌƌŝĚŽƌƐ͕ĂŶĚƚŚĞdƌĞĞKƌĚŝŶĂŶĐĞ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ tŽƌŬƚŽĨŽůůŽǁŵĂLJďĞ
ƉƵƌƐƵĞĚŝŶĐŽŶũƵŶĐƚŝŽŶǁŝƚŚƵƉĚĂƚŝŶŐ^ƉĞĐŝĨŝĐWůĂŶƐĨŽƌĐŽŶƐŝƐƚĞŶĐLJǁŝƚŚƚŚĞ'ĞŶĞƌĂůWůĂŶ͕ĂŶĚĨŽůůŽǁƵƉĚĂƚĞƐƚŽƚŚĞ>W͘KŶͲŚŽůĚĚƵĞƚŽƐĐŚĞĚƵůŝŶŐͬƚŝŵĞĐŽŶƐƚƌĂŝŶƚƐĂŶĚƐƚĂĨĨƌĞƐŽƵƌĐĞůŝŵŝƚĂƚŝŽŶƐ

ATTACHMENT 2
79 I
I I
' I I
I

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz>
s
> /DW>
D
Edd/KED
^hZ

^Z/Wd/KE >

Wd͘ ^ddh^
Z
^KE&KZ
,E'
^ ^ddh^KE^dZ/Ed^
hZE
^/'E;hͿ
hͲϰ͘Ϭϰ ϵ D
/hDWZ/KZ/dz tŽƌŬǁŝƚŚŶĞŝŐŚďŽƌŚŽŽĚǀŽůƵŶƚĞĞƌƐƚŽĞƐƚĂďůŝƐŚĂĞƌŽ dƌĂƐŚĐŚĂƉƚĞƌ͕ŽƌƐŝŵŝůĂƌŽƌŐĂŶŝnjĂƚŝŽŶĚĞǀŽƚĞĚƚŽŬĞĞƉŝŶŐ^ĂŶůĞŵĞŶƚĞůŝƚƚĞƌĨƌĞĞ͘΀>ŝŶŬƚŽĞƌŽdƌĂƐŚ͘ŽƌŐ΁ hƚŝůŝƚŝĞƐ EŽƚƐƚĂƌƚĞĚ

,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϲ͘Ϭϭ ϰϭ >KtWZ/KZ/dz ŽŶƐŝĚĞƌĂŵĞŶĚŝŶŐƚŚĞŽŶŝŶŐKƌĚŝŶĂŶĐĞƚŽĂůůŽǁŬĞĞƉŝŶŐ ĐŚŝĐŬĞŶƐŝŶůŽǁͲĚĞŶƐŝƚLJƌĞƐŝĚĞŶƚŝĂůnjŽŶĞƐĨŽƌŚŽŵĞͲďĂƐĞĚĞŐŐƉƌŽĚƵĐƚŝŽŶĂŶĚŶŽŶͲĐŚĞŵŝĐĂůƉĞƐƚĐŽŶƚƌŽů͘ŝƚLJǁŝůůĞƐƚĂďůŝƐŚŐƵŝĚĞůŝŶĞƐĂŶĚƐƉĞĐŝĨŝĐnjŽŶŝŶŐƐƚĂŶĚĂƌĚƐĨŽƌ ƉŽƵůƚƌLJƌĂŝƐŝŶŐŝŶůŽǁͲĚĞŶƐŝƚLJƌĞƐŝĚĞŶƚŝĂůnjŽŶĞƐ͘
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ EŽƚƐƚĂƌƚĞĚĚƵĞƚŽůŽǁ
ƉƌĞĐĞĚĞŶĐĞŽǀĞƌƉƌŝŽƌŝƚLJƉƌŽũĞĐƚƐ͘

,
^͕WZ<^EZ
Z
d/KE;WZͿ
Ϯ >KtWZ/KZ/dz tŽƌŬǁŝƚŚĐŽŵŵƵŶŝƚLJŐƌŽƵƉƐƚŽŚĞůƉƉƌŽŵŽƚĞĂŶĚ ĞƐƚĂďůŝƐŚƉƌŽũĞĐƚƐƚŚĂƚŚĞůƉĐĞůĞďƌĂƚĞƚŚĞŝƚLJ͛ƐƐƵƌĨŚĞƌŝƚĂŐĞ͘ WZ ^ƚĂƌƚĞĚ /ŶŝƚŝĂƚĞĚĐŽŶǀĞƌƐĂƚŝŽŶƐ
ǁŝƚŚh^^ƵƌĨŝŶŐƚŽĞƐƚĂďůŝƐŚ^ĂŶůĞŵĞŶƚĞĂƐƚŚĞŚŽŵĞŽĨh^^ƵƌĨŝŶŐŽƌŐĂŶŝnjĂƚŝŽŶ͕ŝŶĐůƵĚŝŶŐƉƵďůŝĐĂƌƚĂŶĚĨƵƚƵƌĞ ĞǀĞŶƚƐ͘
,/^dKZ/WZ
^
Zsd/KE;,WͿ
Ϯϴ >KtWZ/KZ/dz ĞǀĞůŽƉĂĚŝŐŝƚĂůǁĂLJĨŝŶĚŝŶŐƉƌŽŐƌĂŵ͕ŝŶĐůƵĚŝŶŐĞůĞĐƚƌŽŶŝĐ ŽƌǁĞďͲďĂƐĞĚŝŶƚĞƌƉƌĞƚŝǀĞŝŶĨŽƌŵĂƚŝŽŶ͘
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ ĂƐĞĚŽŶƌĞƐŽƵƌĐĞƐ͕
ĨŽůůŽǁŝŶŐƵƉĚĂƚĞƐƚŽ^ƉĞĐŝĨŝĐWůĂŶƐ͕ĂŶĚƚŚĞ>W͕
ĂŶŝŶƚĞƌĂĐƚŝǀĞǁĞďͲŵĂƉǁŝůůďĞƉƵƌƐƵĞĚĨŽƌǁĂLJĨŝŶĚŝŶŐ͘
,/^dKZ/WZ
^
Zsd/KE;,WͿ
,WͲϭ͘Ϭϰ Ϯϰ >KtWZ/KZ/dz ,ĞůƉĞƐƚĂďůŝƐŚŚŝƐƚŽƌŝĐĂƌĐŚŝǀĞƐĂŶĚͬŽƌůŝďƌĂƌLJƚŽƉƌŽƚĞĐƚ͕ ŽƌŐĂŶŝnjĞ͕ƉƌĞƐĞƌǀĞĂŶĚŵĂŬĞĂĐĐĞƐƐŝďůĞƚŚĞŝƚLJ͛ƐǁƌŝƚƚĞŶĂŶĚŐƌĂƉŚŝĐĂƌĐŚŝǀĂůƌĞĐŽƌĚƐ͘ ŝƚLJDĂŶĂŐĞƌ /ŶƉƌŽĐĞƐƐ KŶͲŐŽŝŶŐĚŝƐĐƵƐƐŝŽŶ
ǁŝƚŚƚŚĞ,ŝƐƚŽƌŝĐ^ŽĐŝĞƚLJƚŽĞƐƚĂďůŝƐŚƉƵďůŝĐĂƌĐŚŝǀĂůůŽĐĂƚŝŽŶ͘ ŝƚLJDĂŶĂŐĞƌ͛ƐŽĨĨŝĐĞ
ĐƵƌƌĞŶƚůLJŚŽůĚŝŶŐĚŝƐĐƵƐƐŝŽŶƐǁŝƚŚ,ŝƐƚŽƌŝĐ^ŽĐŝĞƚLJ͘
>Eh^
;>hͿ
>hͲϲ͘ϬϮ ϭϯ >KtWZ/KZ/dz ŽŶƐŝĚĞƌĐŚĂŶŐĞƐƚŽƚŚĞŽŶŝŶŐKƌĚŝŶĂŶĐĞŽƌŝŶĐĞŶƚŝǀĞƐ ƚŚĂƚƉƌĞƐĞƌǀĞ͞ĞdžƉĞƌŝĞŶƚŝĂůƌĞƚĂŝůƵƐĞƐ͟ŝŶŬĞLJƐŚŽƉƉŝŶŐĂƌĞĂƐĂůŽŶŐǀĞŶŝĚĂĞůDĂƌĂŶĚ ůĂŵŝŶŽZĞĂů͕ĨƌŽŵƚŚĞŽǁŶƚŽǁŶͬdͲnjŽŶĞƚŽEŽƌƚŚĞĂĐŚ͘&ƵƚƵƌĞĐŚĂŶŐĞƐŝŶƵƐĞŵƵƐƚďĞƐĞŶƐŝƚŝǀĞƚŽĂĚũĂĐĞŶƚƌĞƐŝĚĞŶƚŝĂůƵƐĞƐ͘΀ džƉĞƌŝĞŶƚŝĂůƌĞƚĂŝůƵƐĞƐĂƌĞƚŚŽƐĞƚŚĂƚĞŶŚĂŶĐĞĐŽŶƐƵŵĞƌŝŶƚĞƌĂĐƚŝŽŶ͕ĚƌŝǀĞƌĞƉĞĂƚǀŝƐŝƚƐĂŶĚƉƵƌĐŚĂƐĞƐ͕ĂŶĚĐƌĞĂƚĞĚŝƐƚŝŶĐƚŝŽŶ͘dŚŝƐĞdžƉĞƌŝĞŶĐĞĐĂŶŽŶůLJďĞĂĐŚŝĞǀĞĚŝŶ͞ďƌŝĐŬĂŶĚŵŽƌƚĂƌ͟ƌĞƚĂŝůĞƐƚĂďůŝƐŚŵĞŶƚƐͶŶŽƚŽŶůŝŶĞ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ tŽƌŬƚŽĨŽůůŽǁƵƉĚĂƚŝŶŐ
^ƉĞĐŝĨŝĐWůĂŶƐĨŽƌĐŽŶƐŝƐƚĞŶĐLJǁŝƚŚƚŚĞ'ĞŶĞƌĂůWůĂŶ͕ĂŶĚĨŽůůŽǁƵƉĚĂƚĞƐƚŽƚŚĞ>W͘ /DŽŶͲŚŽůĚĚƵĞƚŽůŽǁͲƉƌŝŽƌŝƚLJ͘

ATTACHMENT 2
80 I I

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz>
s
> /DW>
D
Edd/KED
^hZ

^Z/Wd/KE >

Wd͘ ^ddh^
Z
^KE&KZ
,E'
^ ^ddh^KE^dZ/Ed^
>Eh^
;>hͿ
>hͲϮ͘Ϭϭ͕>hͲϮ͘Ϭϯ
Ϯ >KtWZ/KZ/dz
ƐƚĂďůŝƐŚĚĞƐŝŐŶŐƵŝĚĞůŝŶĞƐĨŽƌĂƵƚŽŵŽďŝůĞƌĞƉĂŝƌ͕ĨƵĞůŝŶŐ ƐƚĂƚŝŽŶƐ͕ŽƵƚĚŽŽƌƐƚŽƌĂŐĞ͕ĂŶĚƐŝŵŝůĂƌƵƐĞƐǁŚŝĐŚƉƌŽǀŝĚĞĨŽƌƚŚĞŝƌƉŚLJƐŝĐĂůĂŶĚǀŝƐƵĂůĐŽŵƉĂƚŝďŝůŝƚLJǁŝƚŚƚŚĞĚŝƐƚƌŝĐƚŝŶǁŚŝĐŚƚŚĞLJĂƌĞůŽĐĂƚĞĚ͖ŝŶĐůƵĚŝŶŐƐƚĂŶĚĂƌĚƐĨŽƌďƵŝůĚŝŶŐĐŚĂƌĂĐƚĞƌĂŶĚĚĞƐŝŐŶ͕ŵĂƚĞƌŝĂůƐ͕ĐŽůŽƌƐ͕ůĂŶĚƐĐĂƉĞ͕ƐŝŐŶĂŐĞ͕ůŝŐŚƚŝŶŐ͕ĂŶĚŽƚŚĞƌƉĞƌƚŝŶĞŶƚĞůĞŵĞŶƚƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚŽŵƉůĞƚĞĚ ŽŵƉůĞƚĞĚ tŽƌŬƉĞŶĚŝŶŐĐŽŶƐƵůƚĂŶƚ ƐĞƌǀŝĐĞƐĨƵŶĚŝŶŐ͘ĞƐŝŐŶŐƵŝĚĞůŝŶĞƵƉĚĂƚĞƐǁŝůůďĞƉƌŝŽƌŝƚŝnjĞĚĂŶĚƐĐŚĞĚƵůĞĚĂĨƚĞƌƵƉĚĂƚĞƐƚŽ^ƉĞĐŝĨŝĐWůĂŶƐĨŽƌ'ĞŶĞƌĂůWůĂŶĐŽŶƐŝƐƚĞŶĐLJ͕ĂŶĚĨŽůůŽǁŝŶŐƚŚĞ>W͕ďĂƐĞĚŽŶƌĞƐŽƵƌĐĞƐ͘ŽŵƉůĞƚĞĚ >Eh^
;>hͿ
>hͲϭ͘ϬϮ ϰ >KtWZ/KZ/dz
ǀĂůƵĂƚĞƚŚĞůŽĐĂƚŝŽŶƐŽĨĨĂƐƚĨŽŽĚŽƵƚůĞƚƐĂŶĚ
ĚƌŝǀĞͲƚŚƌŽƵŐŚƌĞƐƚĂƵƌĂŶƚƐĂŶĚǁŚĞƌĞĂƉƉůŝĐĂďůĞ͕ĞƐƚĂďůŝƐŚnjŽŶŝŶŐƐƚĂŶĚĂƌĚƐĨŽƌƚŚĞƐƉĂƚŝĂůĚŝƐƚƌŝďƵƚŝŽŶŽĨƐƵĐŚƵƐĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ /DŽŶͲŚŽůĚĚƵĞƚŽůŽǁͲ
ƉƌŝŽƌŝƚLJ͘
>Eh^
;>hͿ
>hͲϲ͘Ϭϱ ϭϭ >KtWZ/KZ/dz tŽƌŬǁŝƚŚh͘^͘WŽƐƚĂů^ĞƌǀŝĐĞƚŽĞdžƉůŽƌĞŽƉƉŽƌƚƵŶŝƚŝĞƐƚŽ ƌĞĚĞƐŝŐŶƚŚĞƉŽƐƚŽĨĨŝĐĞůŽĐĂƚĞĚŽŶǀĞŶŝĚĂWŝĐŽ͕ŽƌƌĞůŽĐĂƚĞƚŽĂŵŽƌĞĂƉƉƌŽƉƌŝĂƚĞůŽĐĂƚŝŽŶ͕ƚŽƉƌŽǀŝĚĞŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌŝŵƉƌŽǀĞĚĐŝƌĐƵůĂƚŝŽŶĂŶĚŶĞǁĚĞǀĞůŽƉŵĞŶƚŽƉƉŽƌƚƵŶŝƚŝĞƐǁŝƚŚĂŵĂƐƚĞƌƉůĂŶĨŽƌƚŚĞWŝĐŽWůĂnjĂĂƌĞĂ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ /DŽŶͲŚŽůĚĚƵĞƚŽůŽǁͲ
ƉƌŝŽƌŝƚLJ͘
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϰ͘Ϭϲ ϭϰď >KtWZ/KZ/dz WƌĞƉĂƌĞĐŽŵƉƌĞŚĞŶƐŝǀĞƉĂƌŬŝŶŐĂŶĚĐŝƌĐƵůĂƚŝŽŶƐƚƌĂƚĞŐŝĞƐ ĨŽƌƚŚĞWŝĞƌŽǁů͘
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ dŚŝƐŝƚĞŵŝƐĂŶ
ŝŵƉůĞŵĞŶƚĂƚŝŽŶŵĞĂƐƵƌĞŽĨƚŚĞWŝĞƌŽǁů^ƉĞĐŝĨŝĐWůĂŶ͘tŝƚŚďƵĚŐĞƚĂŶĚŽƵŶĐŝůĚŝƌĞĐƚŝŽŶ͕ƚŚŝƐŝƚĞŵǁŝůůďĞƉƵƌƐƵĞĚĨŽůůŽǁŝŶŐ^ƉĞĐŝĨŝĐ WůĂŶƵƉĚĂƚĞƐ͕ƵƉĚĂƚĞƐƚŽ ƚŚĞ
>W͕ĂŶĚĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐ
ƵƉĚĂƚĞ
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϮ͘ϭϭ Ϯϵ >KtWZ/KZ/dz ĞǀĞůŽƉŝƚLJͲǁŝĚĞŶĂǀŝŐĂƚŝŽŶĂůƚŽŽůƐƐƵĐŚĂƐŵĂƉƐ͕ĚŝŐŝƚĂů ŵĂƉ͕'W^͕ŽƌŽƚŚĞƌĞŵĞƌŐŝŶŐƚĞĐŚŶŽůŽŐŝĞƐ͘;DͲϮ͘ϭϭŝĐLJĐůĞĂŶĚWĞĚĞƐƚƌŝĂŶtĂLJĨŝŶĚŝŶŐͿ͘ ŝƚLJDĂŶĂŐĞƌ ŽŵƉůĞƚĞĚ DĂƉĨŽƌƚŚĞŝƚLJ͛Ɛ
ďŝĐLJĐůĞŶĞƚǁŽƌŬŝƐĂǀĂŝůĂďůĞŽŶƚŚĞŝƚLJ͛ƐǁĞďƐŝƚĞ͘
ŚĂŶŐĞďĂĐŬƚŽ'ĞŶĞƌĂůWůĂŶ/D͖ĐŚĂŶŐĞĚƉƌŝŽƌŝƚLJůĞǀĞůƐŝŶĐĞŽƚŚĞƌĐŽŵƉĂŶŝĞƐƉƌŽǀŝĚĞƚŚŝƐ͘ DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϭ͘Ϭϴ Ϯ >KtWZ/KZ/dz ŽŶĚƵĐƚƌĞŐƵůĂƌƐƵƌǀĞLJƐŽĨŝƚLJƌĞƐŝĚĞŶƚƐƚŽŝĚĞŶƚŝĨLJ ƉƌĞĨĞƌĞŶĐĞƐĂŶĚďĞŚĂǀŝŽƌĂŶĚƌĞƉŽƌƚŽŶƚŚĞƐƵƌǀĞLJƌĞƐƵůƚƐƚŽƚŚĞŝƚLJŽƵŶĐŝůƚŽďĞŶĐŚŵĂƌŬƚƌĂǀĞůďĞŚĂǀŝŽƌ͘ WƵďůŝĐtŽƌŬƐ EŽƚƐƚĂƌƚĞĚ ůĂƌŝĨŝĐĂƚŝŽŶ &ƵŶĚŝŶŐ>ŝŵŝƚĂƚŝŽŶƐ͕^ƚĂĨĨ ZĞƐŽƵƌĐĞƐ EŽƚƐƚĂƌƚĞĚ͘ZĞƐŽƵƌĐĞƐŶŽƚĂǀĂŝůĂďůĞ͘
DK/>/dzEKDW>
d
^dZ

d^;DͿ
ϲ >KtWZ/KZ/dz /ĨŶĞĐĞƐƐĂƌLJƚŽŵŝƚŝŐĂƚĞƉŽƚĞŶƚŝĂůŝŵƉĂĐƚƐ͕ƚŚĞŝƚLJǁŝůů ŝŵƉůĞŵĞŶƚŝŵƉƌŽǀĞŵĞŶƚƐŝĚĞŶƚŝĨŝĞĚĂƐŵŝƚŝŐĂƚŝŽŶŵĞĂƐƵƌĞƐŝŶƚŚĞ&ŝŶĂů ŶǀŝƌŽŶŵĞŶƚĂů/ŵƉĂĐƚZĞƉŽƌƚĨŽƌƚŚĞĞŶƚĞŶŶŝĂů'ĞŶĞƌĂůWůĂŶ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐĂƐŶĞĞĚĞĚ

ATTACHMENT 2

81 I
'
'

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz>
s
> /DW>
D
Edd/KED
^hZ

^Z/Wd/KE >

Wd͘ ^ddh^
Z
^KE&KZ
,E'
^ ^ddh^KE^dZ/Ed^
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϭ͘ϮϮ͕DͲϮ͘ϰϴ͕DͲϮ͘ϰϵ
ϯϰ >KtWZ/KZ/dz
ƐƚĂďůŝƐŚĂďŝĐLJĐůĞͲĨƌŝĞŶĚůLJďƵƐŝŶĞƐƐƉƌŽŐƌĂŵƚŽĞŶĐŽƵƌĂŐĞ ĂŶĚĨĂĐŝůŝƚĂƚĞƵƐĞŽĨĂůƚĞƌŶĂƚŝǀĞŵŽĚĞƐŽĨƚƌĂŶƐƉŽƌƚĂƚŝŽŶďLJĞŵƉůŽLJĞĞƐĂŶĚĐƵƐƚŽŵĞƌƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ͗Kd ŚĂƐĂďŝŬĞǁĞďƐŝƚĞ͗ŚƚƚƉƐ͗ͬͬǁǁǁ͘ŽĐƚĂ͘ŶĞƚͬŝŬĞͲDŽŶƚŚͲϮϬϭϵͬdŚĞǁĞďƐŝƚĞŝŶĐůƵĚĞƐƐĂĨĞƚLJƚŝƉƐĂŶĚĞŵƉůŽLJĞƌƌĞƐŽƵƌĐĞƐ͘ůŝŶŬƚŽƚŚĞKdǁĞďƉĂŐĞŝƐŽŶƚŚĞŝƚLJǁĞďƐŝƚĞ͘ŝƚLJ'/^ŵĂƉƚŽďĞĚĞǀĞůŽƉĞĚďLJ&zϮϬϮϮ͘ DK/>/dzEKDW>
d
^dZ

d^
;DͿ
DͲϭ͘Ϯϭ͕DͲϭ͘ϮϮ͕DͲϮ͘ϯϭ
ϯϳ >KtWZ/KZ/dz
ƐƚĂďůŝƐŚŵŽĚĞƐŚŝĨƚͬƐŚĂƌĞŐŽĂůƐ͕ĂŶĚƚƌĂĐŬŵŽĚĞƐŚŝĨƚƚŽ ƋƵĂŶƚŝĨLJŐƌĞĞŶŚŽƵƐĞŐĂƐƌĞĚƵĐƚŝŽŶƐ͘
WƵďůŝĐtŽƌŬƐ EŽƚƐƚĂƌƚĞĚ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ͕&ƵŶĚŝŶŐ >ŝŵŝƚĂƚŝŽŶƐ EŽƚƐƚĂƌƚĞĚ͘ZĞƐŽƵƌĐĞƐŶŽƚĂǀĂŝůĂďůĞ͘
EdhZ>Z
^KhZ
^;WZͿ
EZͲϳ͘ϬϮ ϮϮ >KtWZ/KZ/dz
ƐƚĂďůŝƐŚĂƌĞƚƌŽĨŝƚƚŝŶŐƉůĂŶĨŽƌŽƵƚĚŽŽƌůŝŐŚƚŝŶŐĂƚŝƚLJ ďƵŝůĚŝŶŐƐ͕ƐƚƌĞĞƚƐĂŶĚƉĂƌŬƐ͘
WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͗^ŝŵŝůĂƌĨŽƌŝƚLJ
ĨĂĐŝůŝƚŝĞƐĂƐůŝŐŚƚŝŶŐŶĞĞĚƐƚŽďĞƌĞƉůĂĐĞĚ͕ŵŽƌĞĞĨĨŝĐŝĞŶƚ> ůŝŐŚƚŝŶŐŝƐŝŶƐƚĂůůĞĚ͘
EdhZ>Z
^KhZ
^;EZͿ
EZͲϱ͘Ϭϯ ϭϰ >KtWZ/KZ/dz ŽŶƐŝĚĞƌĂĚŽƉƚŝŶŐĂŶŽƌĚŝŶĂŶĐĞƚŽĞƐƚĂďůŝƐŚĂŶĂŶƚŝͲŝĚůŝŶŐ njŽŶĞ;Ğ͘Ő͘ĐĂƌƐǁĂŝƚŝŶŐƚŽƉŝĐŬƵƉƐƚƵĚĞŶƚƐĂƚƐĐŚŽŽůƐͿ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ EŽƚƐƚĂƌƚĞĚĚƵĞƚŽůŽǁ
ƉƌĞĐĞĚĞŶĐĞŽǀĞƌƉƌŝŽƌŝƚLJƉƌŽũĞĐƚƐ͕ĂŶĚƐƚĂĨĨƌĞƐŽƵƌĐĞůŝŵŝƚĂƚŝŽŶƐ͘ EdhZ>Z
^KhZ
^;EZͿ
'ŽĂůϲ Ϯϵ >KtWZ/KZ/dz ŽŶƐŝĚĞƌƉŽŝŶƚͲŽĨͲƐĂůĞĞĨĨŝĐŝĞŶĐLJƌĞƚƌŽĨŝƚƌĞƋƵŝƌĞŵĞŶƚƐ͘ ŽŵŵƵŶŝƚLJ ĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ EŽƚƐƚĂƌƚĞĚĚƵĞƚŽůŽǁ
ƉƌĞĐĞĚĞŶĐĞŽǀĞƌƉƌŝŽƌŝƚLJƉƌŽũĞĐƚƐĂŶĚƐƚĂĨĨƌĞƐŽƵƌĐĞůŝŵŝƚĂƚŝŽŶƐ͘ EdhZ>Z
^KhZ
^;EZͿ
EZͲϭ͘Ϭϭ ϯ >KtWZ/KZ/dz ƌĞĂƚĞŵŝŶŝŵĂůĂŶĚĂƉƉƌŽƉƌŝĂƚĞƐŝŐŶĂŐĞĂůŽŶŐƚŚĞŽĂƐƚĂů ĞĂĐŚdƌĂŝůĂŶĚŝŶƚŚĞsŝƐƚĂ,ĞƌŵŽƐĂ^ƉŽƌƚƐWĂƌŬĨŽƌĞĚƵĐĂƚŝŽŶĂůŽƵƚƌĞĂĐŚĂďŽƵƚĐƌŝƚŝĐĂůŚĂďŝƚĂƚƐĂŶĚŶĂƚŝǀĞƉůĂŶƚĂŶĚĂŶŝŵĂůƐƉĞĐŝĞƐ͘ WZ EŽƚƐƚĂƌƚĞĚ 

ATTACHMENT 2
82 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz>
s
> /DW>
D
Edd/KED
^hZ

^Z/Wd/KE >

Wd͘ ^ddh^
Z
^KE&KZ
,E'
^ ^ddh^KE^dZ/Ed^
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϯ͘Ϭϰ
ϭϮ >KtWZ/KZ/dz ŽŶƐŝĚĞƌĞƐƚĂďůŝƐŚŝŶŐĂŶƌƚŝŶWƵďůŝĐWůĂĐĞƐKƌĚŝŶĂŶĐĞ͘ ŽŵŵƵŶŝƚLJ ĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ /ŶϮϬϭϴ͕ĐŽŵƉůĞƚĞĚnjŽŶŝŶŐ
ĂŵĞŶĚŵĞŶƚƐƚŚĂƚƐƚƌĞĂŵůŝŶĞĚƌĞǀŝĞǁŽĨŵƵƌĂůƐ͘ŽŶŝŶŐƉƌŽĐĞƐƐĞƐĨŽƌŽƚŚĞƌĨŽƌŵƐŽĨƉƵďůŝĐĂƌƚǁŝůůďĞĐŽŶƐŝĚĞƌĞĚĂĨƚĞƌƵƉĚĂƚĞƐƚŽŽŶŝŶŐĂŶĚ ^ƉĞĐŝĨŝĐWůĂŶĨŽƌ'ĞŶĞƌĂůWůĂŶĐŽŶƐŝƐƚĞŶĐLJ͕ƚŚĞ>W͕
ĂŶĚŽƚŚĞƌŚŝŐŚƉƌŝŽƌŝƚLJŝƚĞŵƐ͘
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^
;W^&hͿ
W^&hͲϯ͘Ϭϯ
ϭϯ >KtWZ/KZ/dz tŝƚŚƚŚĞƵƉĚĂƚĞŽĨĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐ͕ĐŽŶƐŝĚĞƌŐƵŝĚĞůŝŶĞƐ ƚŚĂƚŚŝŐŚůŝŐŚƚĐƵůƚƵƌĂůŽƌŚŝƐƚŽƌŝĐƚŚĞŵĞƐĨŽƌĚŝĨĨĞƌĞŶƚ'ĞŶĞƌĂůWůĂŶ&ŽĐƵƐƌĞĂƐƚŚĂƚƉƌŽǀŝĚĞĐŽŚĞƐŝŽŶŝƚLJͲǁŝĚĞ͕ǁŝƚŚŽƵƚĐŽŵƉƌŽŵŝƐŝŶŐƚŚĞŝƌĚŝƐƚŝŶĐƚŝǀĞŶĞƐƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ EŽƚƐƚĂƌƚĞĚĚƵĞƚŽůŽǁ
ƉƌĞĐĞĚĞŶĐĞŽǀĞƌƉƌŝŽƌŝƚLJƉƌŽũĞĐƚƐ͕ĂŶĚƐƚĂĨĨƌĞƐŽƵƌĐĞůŝŵŝƚĂƚŝŽŶƐ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^
;W^&hͿ
W^&hͲϵ͘Ϭϳ͕W^&hͲϵ͘Ϭϴ
ϰϲ >KtWZ/KZ/dz hƉĚĂƚĞŽƵƌĐŽĚĞƐƚŽĞŶĐŽƵƌĂŐĞƚŚĞƉƌŝǀĂƚĞĚĞǀĞůŽƉŵĞŶƚŽĨ ĂůƚĞƌŶĂƚŝǀĞĞŶĞƌŐLJŝŶĨƌĂƐƚƌƵĐƚƵƌĞǁŚĞƌĞĂƉƉƌŽƉƌŝĂƚĞ͘
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ EŽƚƐƚĂƌƚĞĚĚƵĞƚŽ
ƐĐŚĞĚƵůŝŶŐͬƚŝŵĞĐŽŶƐƚƌĂŝŶƚƐ͕ůŽǁƉƌĞĐĞĚĞŶĐĞŽǀĞƌƉƌŝŽƌŝƚLJƉƌŽũĞĐƚƐ͕ĂŶĚƐƚĂĨĨƌĞƐŽƵƌĐĞůŝŵŝƚĂƚŝŽŶƐ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^
;W^&hͿ
W^&hͲϵ͘Ϭϵ
ϰϯ >KtWZ/KZ/dz
džƉůŽƌĞƚŚĞĨĞĂƐŝďŝůŝƚLJŽĨĞƐƚĂďůŝƐŚŝŶŐĂŝƚLJŐƌĂŶƚƉƌŽŐƌĂŵ ƚŽƉƌŽǀŝĚĞĨƵŶĚŝŶŐƐƵƉƉŽƌƚĨŽƌůŽĐĂůĞŶĞƌŐLJƌĞƚƌŽĨŝƚƚŝŶŐƉƌŽũĞĐƚƐ͘ hƚŝůŝƚŝĞƐ EŽƚƐƚĂƌƚĞĚ &ƵŶĚŝŶŐĂŶĚƌĞƐŽƵƌĐĞƐ
ĂƌĞŶĞĞĚĞĚĨŽƌhƚŝůŝƚŝĞƐƚŽŝŵƉůĞŵĞŶƚƚŚŝƐƉƌŽŐƌĂŵ͘
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^
;W^&hͿ
W^&hͲϵ͘Ϭϯ
ϰϰ >KtWZ/KZ/dz ŽŶƐŝĚĞƌƌĞƋƵŝƌŝŶŐĨƵƚƵƌĞŝƚLJĨĂĐŝůŝƚŝĞƐƚŽŵĞĞƚ>


ĞƌƚŝĨŝĐĂƚŝŽŶƐƚĂŶĚĂƌĚƐŽƌĞƋƵŝǀĂůĞŶƚƐƚĂŶĚĂƌĚƐ͘
hƚŝůŝƚŝĞƐ EŽƚƐƚĂƌƚĞĚ &ƵŶĚŝŶŐĂŶĚƌĞƐŽƵƌĐĞƐ
ĂƌĞŶĞĞĚĞĚƚŽŝŵƉůĞŵĞŶƚƚŚŝƐƉƌŽŐƌĂŵ͘
hZE
^/'E;hͿ
hͲϮ͘ϬϭƚŽhͲϮ͘ϭϮ
ϱ >KtWZ/KZ/dz /ĚĞŶƚŝĨLJĂŶĚƉƵƌƐƵĞŽƉƉŽƌƚƵŶŝƚŝĞƐƚŽŝŵƉƌŽǀĞŐĂƚĞǁĂLJƐǁŝƚŚ ƚŚĞĐƌĞĂƚŝŽŶŽĨĂŐĂƚĞǁĂLJƐƉƌŽŐƌĂŵĂŶĚͬŽƌƵƉĚĂƚĞƐƚŽƚŚĞĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ ĞƐŝŐŶŐƵŝĚĞůŝŶĞƵƉĚĂƚĞƐ
ǁŝůůďĞƉƌŝŽƌŝƚŝnjĞĚĂŶĚƐĐŚĞĚƵůĞĚĂĨƚĞƌƵƉĚĂƚĞƐƚŽŽŶŝŶŐĂŶĚ^ƉĞĐŝĨŝĐWůĂŶƐ ĨŽƌ'ĞŶĞƌĂůWůĂŶĐŽŶƐŝƐƚĞŶĐLJ͕ĂŶĚĨŽůůŽǁŝŶŐƚŚĞ>W͕ďĂƐĞĚŽŶƌĞƐŽƵƌĐĞƐ͘

ATTACHMENT 2
83 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz>
s
> /DW>
D
Edd/KED
^hZ

^Z/Wd/KE >

Wd͘ ^ddh^
Z
^KE&KZ
,E'
^ ^ddh^KE^dZ/Ed^
hZE
^/'E;hͿ
hͲϱ͘Ϭϱ ϭϭ >KtWZ/KZ/dz ŽŶĚƵĐƚƉƵďůŝĐŵĞĞƚŝŶŐƐŽƌĚĞƐŝŐŶĐŚĂƌƌĞƚƚĞƐ͕ŝŶĐůƵĚŝŶŐ ĐŽŵŵƵŶŝƚLJƐƚĂŬĞŚŽůĚĞƌƐ͕ƚŽĚŝƐĐƵƐƐǁĂLJƐƚŽŝĚĞŶƚŝĨLJ͕ƉƌŽƚĞĐƚĂŶĚĞŶŚĂŶĐĞŽǁŶƚŽǁŶsŝůůĂŐĞŚĂƌĂĐƚĞƌ͘ĂƐĞĚŽŶŵĞĞƚŝŶŐĨŝŶĚŝŶŐƐ͕ĐŽŶƐŝĚĞƌƵƉĚĂƚŝŶŐĂŶĚƌĞĨŝŶŝŶŐĂŽǁŶƚŽǁŶDŝƐƐŝŽŶ^ƚĂƚĞŵĞŶƚǁŚŝĐŚŶĞǁƉƌŽũĞĐƚƐŵƵƐƚĨŽůůŽǁ͕ĂŶĚĐŽŶƐŝĚĞƌĂĚŽƉƚŝŶŐŶĞǁĚĞǀĞůŽƉŵĞŶƚƌĞŐƵůĂƚŝŽŶƐƐƵĐŚĂƐĨŽƌŵͲďĂƐĞĚĐŽĚĞƐŽƌŽďũĞĐƚŝǀĞĚĞƐŝŐŶƐƚĂŶĚĂƌĚƐƚŽŝŵƉƌŽǀĞƚŚĞĞĨĨĞĐƚŝǀĞŶĞƐƐĂŶĚƉƌĞĚŝĐƚĂďŝůŝƚLJŽĨƚŚĞĚĞƐŝŐŶƌĞǀŝĞǁƉƌŽĐĞƐƐ͕ŝŶĐůƵĚŝŶŐŚŽǁƚŽĂĐĐŽŵŵŽĚĂƚĞĐŽŵŵĞƌĐŝĂůĚĞǀĞůŽƉŵĞŶƚŽŶƐŵĂůůŵŝdžĞĚͲƵƐĞnjŽŶĞĚůŽƚƐ͘dŚŝƐŝŶĐůƵĚĞƐďƵƚŝƐŶŽƚůŝŵŝƚĞĚƚŽƉŽƚĞŶƚŝĂůĨŽƌŵͲďĂƐĞĚƐƚĂŶĚĂƌĚƐĨŽƌǀĞŶŝĚĂĚĞůDĂƌĂŶĚ ůĂŵŝŶŽZĞĂůǁŝƚŚĞŵƉŚĂƐŝƐŽŶƚŚĞĐŽŵŵĞƌĐŝĂůĐŽƌĞŝŶƚŚĞdͲŽŶĞ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ tŽƌŬƚŽĨŽůůŽǁƵƉĚĂƚŝŶŐ
^ƉĞĐŝĨŝĐWůĂŶƐĨŽƌĐŽŶƐŝƐƚĞŶĐLJǁŝƚŚƚŚĞ'ĞŶĞƌĂůWůĂŶ͕ĂŶĚĨŽůůŽǁƵƉĚĂƚĞƐƚŽƚŚĞ>W͘ KŶͲŚŽůĚĚƵĞƚŽ
ƐĐŚĞĚƵůŝŶŐͬƚŝŵĞĐŽŶƐƚƌĂŝŶƚƐĂŶĚůŽǁƉƌĞĐĞĚĞŶĐĞŽǀĞƌƉƌŝŽƌŝƚLJƉƌŽũĞĐƚƐ͘ hZE
^/'E;hͿ
hͲϭ͘Ϭϵ ϭϰ >KtWZ/KZ/dz WƌĞƉĂƌĞ^ŝŐŶĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐĂŶĚŝŶĐŽƌƉŽƌĂƚĞƚŚĞŵŝŶƚŽ ƚŚĞĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐ͘WƌĞƉĂƌĂƚŝŽŶŽĨƚŚĞ'ƵŝĚĞůŝŶĞƐǁŝůůŝŶǀŽůǀĞďƵƐŝŶĞƐƐ͕ƐŝŐŶĚĞƐŝŐŶĞƌƐĂŶĚŵĂŶƵĨĂĐƚƵƌĞƌƐŝŶƚŚĞŝƌƉƌĞƉĂƌĂƚŝŽŶĂŶĚƉƌŽǀŝĚĞĨŽůůŽǁͲƵƉĞĚƵĐĂƚŝŽŶ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ ĞƐŝŐŶŐƵŝĚĞůŝŶĞƵƉĚĂƚĞƐ
ǁŝůůďĞƉƌŝŽƌŝƚŝnjĞĚĂŶĚƐĐŚĞĚƵůĞĚĂĨƚĞƌƵƉĚĂƚŝŶŐ
^ƉĞĐŝĨŝĐWůĂŶƐĨŽƌ'ĞŶĞƌĂůWůĂŶĐŽŶƐŝƐƚĞŶĐLJ͕ĂŶĚĨŽůůŽǁŝŶŐĞƐƚŽƚŚĞ>W͕ ďĂƐĞĚŽŶƐƚĂĨĨĂŶĚĨƵŶĚŝŶŐ
ƌĞƐŽƵƌĐĞƐ͘
hZE
^/'E;hͿ
hͲϱ͘Ϭϲ ϭϱ >KtWZ/KZ/dz WƌĞƉĂƌĞĂŶĚĂĚŽƉƚĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐĨŽƌ,ŝƐƚŽƌŝĐ WƌĞƐĞƌǀĂƚŝŽŶƚŚĂƚĚĞƐĐƌŝďĞĚĞƐŝŐŶŵĞƚŚŽĚƐĂŶĚƐƚĂŶĚĂƌĚƐĨŽƌĚĞǀĞůŽƉŵĞŶƚŽŶŽƌĂĚũĂĐĞŶƚƚŽƐŝƚĞƐǁŝƚŚŚŝƐƚŽƌŝĐƌĞƐŽƵƌĐĞƐ͖ŝŶĐůƵĚŝŶŐďƵŝůĚŝŶŐƐŝŶƚŚĞƌĐŚŝƚĞĐƚƵƌĂůKǀĞƌůĂLJǁŝƚŚĚŝƐƚŝŶĐƚŝǀĞĂƌĐŚŝƚĞĐƚƵƌĞŽƚŚĞƌƚŚĂŶ^ƉĂŶŝƐŚŽůŽŶŝĂůZĞǀŝǀĂů͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
EŽƚƐƚĂƌƚĞĚ ĞƐŝŐŶŐƵŝĚĞůŝŶĞƵƉĚĂƚĞƐ
ǁŝůůďĞƉƌŝŽƌŝƚŝnjĞĚĂŶĚƐĐŚĞĚƵůĞĚĂĨƚĞƌƵƉĚĂƚŝŶŐ
^ƉĞĐŝĨŝĐWůĂŶƐĨŽƌ'ĞŶĞƌĂůWůĂŶĐŽŶƐŝƐƚĞŶĐLJ͕ĂŶĚĨŽůůŽǁŝŶŐƵƉĚĂƚĞƐƚŽƚŚĞ >W͕ďĂƐĞĚŽŶƐƚĂĨĨĂŶĚ
ĨƵŶĚŝŶŐ ƌĞƐŽƵƌĐĞƐ͘

ATTACHMENT 2
84 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη WZ/KZ/dz>
s
> /DW>
D
Edd/KED
^hZ

^Z/Wd/KE >

Wd͘ ^ddh^
Z
^KE&KZ
,E'
^ ^ddh^KE^dZ/Ed^
hZE
^/'E;hͿ
hͲϱ͘Ϭϳ͕hͲϱ͘Ϭϴ
ϭϲ >KtWZ/KZ/dz hƉĚĂƚĞƚŚĞĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐĨŽƌƌĐŚŝƚĞĐƚƵƌĂůKǀĞƌůĂLJ ĂƌĞĂƐǁŚĞƌĞƉŽůŝĐŝĞƐĂůůŽǁ͞KƚŚĞƌ^ƉĂŶŝƐŚ͟ĂƌĐŚŝƚĞĐƚƵƌĂůƐƚLJůĞƐŝŶĂĚĚŝƚŝŽŶƚŽ^ƉĂŶŝƐŚŽůŽŶŝĂůZĞǀŝǀĂů͕ƐƵĐŚĂƐDŝƐƐŝŽŶ͕DŽŶƚĞƌĞLJ͕/ƚĂůŝĂŶĂƚĞ͕ĂŶĚdƵƐĐĂŶ͖ĂŶĚŝŶĐůƵĚĞĂ͞^ƵƌĨŽŶĞ͟ĂƌĐŚŝƚĞĐƚƵƌĂůƐƚLJůĞŝŶƚŚĞ^ŽƵƚŚ ůĂŵŝŶŽZĞĂůĂƌĞĂĞĂƐƚŽĨ/ŶƚĞƌƐƚĂƚĞϱ͕ƚŽĂůůŽǁĂĚĚŝƚŝŽŶĂůĚĞƐŝŐŶĨůĞdžŝďŝůŝƚLJ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
^ƚĂƌƚĞĚďƵƚŝŶĂĐƚŝǀĞ /ŶϮϬϭϱ͕ǁŝƚŚWŚĂƐĞϭ
ŽŶŝŶŐƵƉĚĂƚĞƐ͕ŝŶƚĞƌŝŵĚĞƐŝŐŶŐƵŝĚĞůŝŶĞƐǁĞƌĞĂĚŽƉƚĞĚĨŽƌ^͘ ůĂŵŝŶŽZĞĂůDhϯ͘ϮŽŶĞƚŚĂƚĂĚĚƌĞƐƐƉŽůŝĐŝĞƐĨŽƌĐŽĂƐƚĂůǀŝĞǁƉƌĞƐĞƌǀĂƚŝŽŶĨƌŽŵ/ŶƚĞƌƐƚĂƚĞͲϱ͘/ŶŐĞŶĞƌĂů͕ĚĞƐŝŐŶŐƵŝĚĞůŝŶĞƵƉĚĂƚĞƐǁŝůůďĞƉƌŝŽƌŝƚŝnjĞĚĂŶĚƐĐŚĞĚƵůĞĚĂĨƚĞƌƵƉĚĂƚŝŶŐ ^ƉĞĐŝĨŝĐWůĂŶƐĨŽƌ'ĞŶĞƌĂůWůĂŶĐŽŶƐŝƐƚĞŶĐLJĂŶĚĨŽůůŽǁƵƉĚĂƚĞƐƚŽƚŚĞ>W ďĂƐĞĚŽŶƐƚĂĨĨĂŶĚĨƵŶĚŝŶŐƌĞƐŽƵƌĐĞƐ͘

ATTACHMENT 2
85 I

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^

,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϭ͘Ϭϯ͕WZͲϮ͘ϬϮ͕WZͲϮ͘Ϭϯ
ϱ KEͲ'K/E' DŽŶŝƚŽƌ͕ƉůĂŶ͕ĂŶĚŝŵƉůĞŵĞŶƚ
ƌĞĐƌĞĂƚŝŽŶĂůƉƌŽŐƌĂŵƐďĂƐĞĚŽŶĚĞŵĂŶĚĂŶĚƌĞƐŽƵƌĐĞƐĂĐĐŽƌĚŝŶŐƚŽƚŚĞĞĂĐŚĞƐ͕WĂƌŬƐ͕ĂŶĚZĞĐƌĞĂƚŝŽŶDĂƐƚĞƌWůĂŶ͘ WZ KŶͲŐŽŝŶŐ &ĂĐŝůŝƚLJ͕ƉƌŽŐƌĂŵ͕ĂŶĚ
ƐƚĂĨĨŝŶŐŶĞĞĚƐĂƌĞĐŽŶƚŝŶƵĂůůLJĞǀĂůƵĂƚĞĚ͘^ƚĂĨĨǁŝůůĐŽŶƚŝŶƵĞƚŽĞǀĂůƵĂƚĞĂŶĚƌĞĚĞƐŝŐŶĂŐŝŶŐƌĞĐƌĞĂƚŝŽŶƉƌŽŐƌĂŵƐƚŽĂůŝŐŶǁŝƚŚŶĞǁĐŽŵŵƵŶŝƚLJŶĞĞĚƐ͕ĂƐĚŝƌĞĐƚĞĚŝŶĞĂĐŚĞƐ͕WĂƌŬƐ͕ĂŶĚZĞĐƌĞĂƚŝŽŶDĂƐƚĞƌWůĂŶ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϮ͘Ϭϵ ϴ KEͲ'K/E'
ƐƚĂďůŝƐŚŽƌŝŵƉƌŽǀĞũŽŝŶƚͲƵƐĞ
ĂŐƌĞĞŵĞŶƚƐƚŽŵĂdžŝŵŝnjĞƉƵďůŝĐƌĞĐƌĞĂƚŝŽŶŽƉƉŽƌƚƵŶŝƚŝĞƐ͘ WZ KŶͲŐŽŝŶŐ tŽƌŬŝŶŐǁŝƚŚh^ƚŽ
ƌĞŶĞǁƚŚĞ&ŽƌƐƚĞƌZĂŶĐŚWĂƌŬͬĞƌŶŝĐĞLJĞƌDŝĚĚůĞ^ĐŚŽŽůũŽŝŶƚͲƵƐĞĂŐƌĞĞŵĞŶƚ͕ĂŶĚĞƐƚĂďůŝƐŚĂũŽŝŶƚƵƐĞĂŐƌĞĞŵĞŶƚĨŽƌŽƚŚĞƌĨĂĐŝůŝƚLJƵƐĂŐĞ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϲ͘ϭϰ ϭϮ KEͲ'K/E' dŚĞŝƚLJǁŝůůĐŽŶƚŝŶƵĞƚŽƐƵƉƉŽƌƚĂ ĚŽŐƉĂƌŬĂŶĚĂĐĐĞƐƐĨŽƌĚŽŐƐŝŶŶĞŝŐŚďŽƌŚŽŽĚƉĂƌŬƐ͘
WZ KŶͲŐŽŝŶŐ ^ƚĂĨĨƉƌŽŵŽƚĞƚŚĞĚŽŐ
ƉĂƌŬĂŶĚĚŽŐƉŽůŝĐŝĞƐ͘WƌŽƉŽƐĞĚƐŝƚĞƐƉĞĐŝĨŝĐƉĂƌŬŵĂƐƚĞƌƉůĂŶƵƉĚĂƚĞƐƌĞĐŽŵŵĞŶĚĂĚĚŝƚŝŽŶĂůĚŽŐĂŵĞŶŝƚŝĞƐ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϲ͘ϬϮ Ϯϲ KEͲ'K/E'
ŶĐŽƵƌĂŐĞƚŚĂƚŚĞĂůƚŚLJĨŽŽĚƐďĞ
ƐĞƌǀĞĚĂƚŝƚLJͲƐƉŽŶƐŽƌĞĚĞǀĞŶƚƐ͕ŵĞĞƚŝŶŐƐ͕ĂŶĚĐŽŵŵƵŶŝƚLJͲǁŝĚĞĨŽƌƵŵƐ͘ WZ KŶͲŐŽŝŶŐ ^ƚĂĨĨĞŶĐŽƵƌĂŐĞƐŽƚŚĞƌ
ĚĞƉĂƌƚŵĞŶƚƐĂŶĚĐŽŵŵƵŶŝƚLJŐƌŽƵƉƐƚŽƐĞƌǀĞŚĞĂůƚŚLJĨŽŽĚ͘

ATTACHMENT 3
86 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^

,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϳ͘Ϭϭ͕WZͲϳ͘Ϭϱ
Ϯϴ KEͲ'K/E' WƵƌƐƵĞĨƵŶĚŝŶŐƐƵĐŚĂƐƉƌŝǀĂƚĞ
ĐŽŶƚƌŝďƵƚŝŽŶƐ͕ŐƌĂŶƚƐ͕ĂŶĚƉƵďůŝĐͲƉƌŝǀĂƚĞƉĂƌƚŶĞƌƐŚŝƉƐƉƌŽǀŝĚĞ͕ŝŵƉƌŽǀĞŽƌŵĂŝŶƚĂŝŶƌĞĐƌĞĂƚŝŽŶĂůĨĂĐŝůŝƚŝĞƐƚŚĂƚƉƌŽŵŽƚĞŚĞĂůƚŚĂŶĚǁĞůůŶĞƐƐ͕͕ĨŽƌĨŝƚŶĞƐƐƐƚĂƚŝŽŶƐ͕ďĞŶĐŚĞƐ͕ďŝŬĞƌĂĐŬƐ͕ĂŶĚƉůĂLJĞƋƵŝƉŵĞŶƚ͕ĂŶĚŽƚŚĞƌŝŵƉƌŽǀĞŵĞŶƚƐ͘ WZ KŶͲŐŽŝŶŐ ^ƚĂĨĨĞŶĐŽƵƌĂŐĞƐƉƌŝǀĂƚĞ
ŽƌŐĂŶŝnjĂƚŝŽŶƐƚŽŝŶĐůƵĚĞƉƵďůŝĐŝŵƉƌŽǀĞŵĞŶƚƐŝŶŶĞǁĚĞǀĞůŽƉŵĞŶƚƐĂŶĚǁŽƌŬƐǁŝƚŚƚŚĞ&ƌŝĞŶĚƐ&ŽƵŶĚĂƚŝŽŶŽŶƚŚĞƉƌŽŵŽƚŝŽŶŽĨŚĞĂůƚŚĂŶĚǁĞůůŶĞƐƐŝŶƵŶĚĞƌƐĞƌǀĞĚĂƌĞĂƐ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϲ͘ϬϮ͕WZͲϲ͘ϭϮ
ϯϰ KEͲ'K/E' ŽŶƚŝŶƵĞĐŽůůĂďŽƌĂƚŝŽŶǁŝƚŚůŽĐĂů
ŚĞĂůƚŚƉƌŽǀŝĚĞƌƐƚŽƉƌŽǀŝĚĞƉƵďůŝĐŚĞĂůƚŚƉƌŽŐƌĂŵƐĂŶĚƐĞƌǀŝĐĞƐŝŶŝƚLJƉĂƌŬƐǁŝƚŚĂŶĞŵƉŚĂƐŝƐŽŶƚĂƌŐĞƚĂƌĞĂƐ͘ WZ KŶͲŐŽŝŶŐ ^ƚĂĨĨĂĐƚŝǀĞůLJƉĂƌƚŝĐŝƉĂƚĞƐ
ǁŝƚŚEƵWĂŶĚĐŽŶƚŝŶƵĞƐƚŽǁŽƌŬǁŝƚŚƚŚĞK,ĞĂůƚŚĞƉĂƌƚŵĞŶƚŽŶŝŶŝƚŝĂƚŝǀĞƐƚŚĂƚƉƌŽŵŽƚĞǁĞůůŶĞƐƐ͕ŝŶĐůƵĚŝŶŐƚŚĞ&ƵŶŽŶƚŚĞZƵŶDŽďŝůĞZĞĐƌĞĂƚŝŽŶWƌŽŐƌĂŵĂŶĚ'ŽĂůŽŶĞ^ƉŽƌƚƐ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϲ͘ϭϭ ϯϱ KEͲ'K/E' ^ƚĂĨĨƐŚĂůůĐŽŶƚŝŶƵĞƉĂƌƚŝĐŝƉĂƚŝŽŶŝŶ ŚĞĂůƚŚLJůŝǀŝŶŐƉƌŽŐƌĂŵƐƐƉŽŶƐŽƌĞĚďLJĐŽůůĂďŽƌĂƚŝǀĞƉĂƌƚŶĞƌƐĂŶĚĂĐƚŝǀĞLJŽƵƚŚ͘ WZ KŶͲŐŽŝŶŐ ^ƚĂĨĨǁŽƌŬƐǁŝƚŚƐĞǀĞƌĂů
ĐŽůůĂďŽƌĂƚŝǀĞƉĂƌƚŶĞƌƐ͕ŝŶĐůƵĚŝŶŐƚŚĞ'͘Z͘/͘W͘/ŶƚŝĂƚŝǀĞĂŶĚEƵW͖ĂĚĚŝƚŝŽŶĂůůLJƐƚĂĨĨƐƵƉƉŽƌƚĐŽŵŵƵŶŝƚLJĞǀĞŶƚƐŚŽƐƚĞĚďLJŶŽŶͲƉƌŽĨŝƚƐǁŚŝĐŚƉƌŽŵŽƚĞŚĞĂůƚŚĂŶĚǁĞůůŶĞƐƐ͕ŝŶĐůƵĚŝŶŐƚŚĞ,ŝŐŚϱ&Žƌ&ŝƚŶĞƐƐĞǀĞŶƚĂŶĚƚŚĞ^ĂŶůĞŵĞŶƚĞ,ĞĂůƚŚΘtĞůůŶĞƐƐ džƉŽ͘

ATTACHMENT 3
87 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^

,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϰ͘Ϭϳ ϱϭ KEͲ'K/E' ZĞǀŝĞǁĂŶĚƵƉĚĂƚĞƚŚĞĞĂĐŚĞƐ͕
WĂƌŬƐĂŶĚZĞĐƌĞĂƚŝŽŶDĂƐƚĞƌWůĂŶŝŶĐůƵĚŝŶŐƐŝƚĞƐƉĞĐŝĨŝĐƉĂƌŬƉůĂŶƐďĂƐĞĚŽŶƚŚĞďƵĚŐĞƚĂŶĚĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚWƌŽŐƌĂŵ͘WĂƌŬƉůĂŶƵƉĚĂƚĞƐĂƌĞƚŽƉƌŽǀŝĚĞĂĚĞƋƵĂƚĞŐƵŝĚĂŶĐĞĨŽƌƚŚĞƉƌŽǀŝƐŝŽŶŽĨƉĂƌŬƐ͕ƚƌĂŝůƐ͕ĂŶĚŽƚŚĞƌƌĞĐƌĞĂƚŝŽŶĂůĨĂĐŝůŝƚŝĞƐ͘ WZ KŶͲŐŽŝŶŐ WZDĂƐƚĞƌWůĂŶǁĂƐ
ĂĚŽƉƚĞĚDĂƌĐŚϮϬϭϴ͘^ŝƚĞƐƉĞĐŝĨŝĐƉĂƌŬŵĂƐƚĞƌƉůĂŶƵƉĚĂƚĞƐĨŽƌZŝĐŚĂƌĚd͘^ƚĞĞĚDĞŵŽƌŝĂůWĂƌŬĂƌĞĞdžƉĞĐƚĞĚƚŽďĞĐŽŵƉůĞƚĞĚďLJƐƉƌŝŶŐϮϬϮϯ͘hƉĚĂƚĞƐĨŽƌŽŶŝƚŽĂŶLJŽŶ͕^ĂŶ'ŽƌŐŽŶŝŽ͕^ĂŶ>ƵŝƐZĞLJ͕ĂŶĚ>ŝŶĚĂ>ĂŶĞWĂƌŬƐĂƌĞĞdžƉĞĐƚĞĚƚŽďĞĐŽŵƉůĞƚĞĚďLJƐƉƌŝŶŐϮϬϮϰ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϳ͘Ϭϰ ϱϮ KEͲ'K/E' /ŶǀĞƐƚŝŐĂƚĞƚŚĞƉŽƐƐŝďŝůŝƚLJŽĨ
ĞƐƚĂďůŝƐŚŝŶŐĂǀŽůƵŶƚĞĞƌƐƚĂĨĨŝŶŐƉƌŽŐƌĂŵƚŽĂƐƐŝƐƚǁŝƚŚƌĞĐƌĞĂƚŝŽŶĂůƉƌŽŐƌĂŵƐĂŶĚƌĞĚƵĐĞƐƚĂĨĨŝŶŐĐŽƐƚƐĂƚŝƚLJƉƵďůŝĐƉĂƌŬƐĂŶĚƌĞĐƌĞĂƚŝŽŶĂůĨĂĐŝůŝƚŝĞƐ͘ WZ ^ƚĂƌƚĞĚ ^ƚĂĨĨŝƐƌĞƐĞĂƌĐŚŝŶŐŽƚŚĞƌ
ĂŐĞŶĐŝĞƐΖǀŽůƵŶƚĞĞƌƉƌŽŐƌĂŵƐĂŶĚĐŽŶƚŝŶƵĞƐƚŽǁŽƌŬǁŝƚŚƚŚĞ&ƌŝĞŶĚƐŽĨ^ĂŶůĞŵĞŶƚĞWZ&ŽƵŶĚĂƚŝŽŶŽŶǀŽůƵŶƚĞĞƌŽƉƉŽƌƚƵŶŝƚŝĞƐĂƚĞǀĞŶƚƐ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϮ͘ϭϬ ϭϭ KEͲ'K/E' tŽƌŬǁŝƚŚŽƚŚĞƌƉƵďůŝĐĂŐĞŶĐŝĞƐĂŶĚ ŶŽŶͲƉƌŽĨŝƚŽƌŐĂŶŝnjĂƚŝŽŶƐƚŽŚĞůƉĞŶƐƵƌĞĂůůĐŽŵŵƵŶŝƚLJͲƐĞƌǀŝŶŐĨĂĐŝůŝƚŝĞƐ͕ƐƵĐŚĂƐůŝďƌĂƌŝĞƐ͕ŚĞĂůƚŚĐĞŶƚĞƌƐ͕ǁĞůůŶĞƐƐĐĞŶƚĞƌƐ͕ƌĞĐƌĞĂƚŝŽŶĨĂĐŝůŝƚŝĞƐĂŶĚƉĂƌŬƐĂƌĞƵŶŝǀĞƌƐĂůůLJĂĐĐĞƐƐŝďůĞ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͕ĐŽůůĂďŽƌĂƚŝǀĞ
ĞĨĨŽƌƚďĞƚǁĞĞŶZŝƐŬDĂŶĂŐĞŵĞŶƚΘŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚƵŝůĚŝŶŐ^ĞƌǀŝĐĞƐ͘

ATTACHMENT 3
88 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^

,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϲ͘Ϭϴ ϯϮ KEͲ'K/E' ŽŶƚŝŶƵĞŝƚLJͲƐƉŽŶƐŽƌĞĚDĂLJŽƌ͛Ɛ
tĂůŬƐĂŶĚƐŝŵŝůĂƌĂĐƚŝǀŝƚŝĞƐƚŽĞŶĐŽƵƌĂŐĞƌĞƐŝĚĞŶƚƐ͛ƉĂƌƚŝĐŝƉĂƚŝŽŶŝŶĐŽŵŵƵŶŝƚLJĞǀĞŶƚƐĂŶĚĞŶĐŽƵƌĂŐĞŚĞĂůƚŚLJŶĞŝŐŚďŽƌŚŽŽĚƐ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ ŝƚLJŽƵŶĐŝůĞŶĐŽƵƌĂŐĞĚ
ƉĂƌƚŝĐŝƉĂƚŝŽŶĂƚ&D͛Ɛ,ƵŶŐĞƌtĂůŬ͘dŚĞŝƚLJĨĂĐŝůŝƚĂƚĞĚEĂƚŝŽŶĂůEŝŐŚƚKƵƚ͕ŝŶĐůƵĚŝŶŐŚĞĂůƚŚLJĂĐƚŝǀŝƚŝĞƐĂŶĚŶĞŝŐŚďŽƌŚŽŽĚƐ͘ĞĂĐŚĞƐ͕ WĂƌŬƐĂŶĚZĞĐƌĞĂƚŝŽŶŚŽƐƚĞĚƚŚĞŝƌĨŝƌƐƚDŽŶƐƚĞƌĂƐŚϱŬƚŚƌŽƵŐŚĚŽǁŶƚŽǁŶ͘ hƉĚĂƚĞŶŽƚĞƐŽŶƐƚĂƚƵƐ͘

,
^͕WZ<^EZ
Z
d/KE;WZͿ
ϯϯ KEͲ'K/E'
ŶƐƵƌĞƚŚĂƚWŽůŝĐĞ^ĞƌǀŝĐĞƐĐŽŶƚŝŶƵĞƐ
ƚŽǁŽƌŬǁŝƚŚŶĞŝŐŚďŽƌŚŽŽĚƐƚŽƉƌŽŵŽƚĞƐĂĨĞƚLJĂŶĚƚŚĞ͞EĞŝŐŚďŽƌŚŽŽĚtĂƚĐŚWƌŽŐƌĂŵ͘͟ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐĞĨĨŽƌƚǁŝƚŚ
K^ĂŶĚŝƚLJDĂŶĂŐĞƌ͘K^ŝƐƚĂƐŬĞĚǁŝƚŚƉƌŽŵŽƚŝŶŐĂŶĚĞdžƉĂŶĚŝŶŐEĞŝŐŚďŽƌŚŽŽĚtĂƚĐŚƉƌŽŐƌĂŵƐ͘dŚĞ ƌŝŵĞ^ƉĞĐŝĂůŝƐƚǁĂƐĐŚĂŶŐĞĚĨƌŽŵƉĂƌƚͲƚŝŵĞƚŽĨƵůůͲƚŝŵĞ͘ hƉĚĂƚĞŶŽƚĞƐŽŶƐƚĂƚƵƐ͘

,
^͕WZ<^EZ
Z
d/KE;WZͿ
ϯϵ KEͲ'K/E' WƌŽŵŽƚĞĂŶĚƐƵƉƉŽƌƚĂŝƚLJ

ŵƉůŽLJĞĞtĞůůŶĞƐƐWƌŽŐƌĂŵ͘
ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ /ŵƉůĞŵĞŶƚĞĚĂŶĚŽŶͲ
ŐŽŝŶŐƉƌŽŐƌĂŵ,ZƉƌŽǀŝĚĞƐĂŵŽŶƚŚůLJƉƌŽŐƌĂŵĂŶĚŝŶĐĞŶƚŝǀĞƐĨŽƌƉĂƌƚŝĐŝƉĂƚŝŽŶŝŶĂĚĚŝƚŝŽŶƚŽŚŽƐƚŝŶŐĂŶĂŶŶƵĂůǁĞůůŶĞƐƐĨĂŝƌĂŶĚǁĞůůŶĞƐƐǁĂůŬ͘dŚĞŝƚLJ ĐŽŵƉůĞƚĞĚĂŶĚŽƉĞŶĞĚĂĨŝƚŶĞƐƐĐĞŶƚĞƌĨŽƌĐŝƚLJĞŵƉůŽLJĞĞƐ͘ hƉĚĂƚĞŶŽƚĞƐŽŶƐƚĂƚƵƐ͘

ATTACHMENT 3
89 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^

,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϯ͘Ϭϲ ϭϰď KEͲ'K/E' ŽŶƚŝŶƵĞƚŽĞŶŚĂŶĐĞƚŚĞďĞĂĐŚĞƐ
ĂŶĚďĞĂĐŚƐƵƉƉŽƌƚĨĂĐŝůŝƚŝĞƐĂƚƚŚĞEŽƌƚŚĞĂĐŚƚƌĂŝŶƐƚĂƚŝŽŶ͕ƌĞĐŽŐŶŝnjŝŶŐƚŚĞŝƌŝŵƉŽƌƚĂŶĐĞĂƐŝƚLJŐĂƚĞǁĂLJƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘WĂƌƚŽĨƌĞǀŝĞǁ
ƉƌŽĐĞƐƐǁŚĞŶŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌĞŶŚĂŶĐĞŵĞŶƚĂƌŝƐĞ͘

,
^͕WZ<^EZ
Z
d/KE;WZͿ
ϮϮ KEͲ'K/E' tŽƌŬǁŝƚŚƚŚĞ^ƚĂƚĞ͕&ĞĚĞƌĂůĂŶĚ
ŽƵŶƚLJĂŐĞŶĐŝĞƐƚŽĂĚǀŽĐĂƚĞƐƚƌŝĐƚĞŶĨŽƌĐĞŵĞŶƚŽĨůĂǁƐĂŐĂŝŶƐƚƚŚĞƐĂůĞŽƌƵƐĞŽĨĂůĐŽŚŽůŝĐďĞǀĞƌĂŐĞƐĂŶĚƚŽďĂĐĐŽƉƌŽĚƵĐƚƐďLJŵŝŶŽƌƐĂŶĚǁŝƚŚŐŽǀĞƌŶŵĞŶƚĂůĂŶĚŶŽŶͲŐŽǀĞƌŶŵĞŶƚĂůĂŐĞŶĐŝĞƐƚŽƐƚĞŵƚŚĞĂǀĂŝůĂďŝůŝƚLJŽĨŝůůĞŐĂůĚƌƵŐƐĂŶĚƚŽ ƉƌĞǀĞŶƚƐƵďƐƚĂŶĐĞĂďƵƐĞ͘
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘ŽĚĞ
ŽŵƉůŝĂŶĐĞŝǀŝƐŝŽŶ͕K^͕,ƵŵĂŶĨĨĂŝƌƐŽŵŵŝƚƚĞĞ͕^ŽůůĂďŽƌĂƚŝǀĞ͕^,^Wd͕tĞůůŶĞƐƐΘWƌĞǀĞŶƚŝŽŶĞŶƚĞƌΛ^,^͕ĂŶĚ^ŚĞƌŝĨĨ͛ƐƌŝŵĞWƌĞǀĞŶƚŝŽŶhŶŝƚ͘ 
,
^͕
WZ<^EZ
Z
d/KE;WZͿ
Ϯϱ KEͲ'K/E'
ŶĐŽƵƌĂŐĞƌĞƐƚĂƵƌĂŶƚƐƚŽƉƌŽǀŝĚĞ
ŶƵƚƌŝƚŝŽŶĂůŝŶĨŽƌŵĂƚŝŽŶƚŽŚĞůƉĐƵƐƚŽŵĞƌƐŵĂŬĞŚĞĂůƚŚLJĚŝŶŝŶŐĐŚŽŝĐĞƐĂŶĚƌĞĐŽŐŶŝnjĞƚŚŽƐĞƚŚĂƚĚŽ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘,ƵŵĂŶĨĨĂŝƌƐ
ŽŵŵŝƚƚĞĞ͕^ŽůůĂďŽƌĂƚŝǀĞtĞůůŶĞƐƐŽŵŵŝƚƚĞĞ͘

,
^͕WZ<^EZ
Z
d/KE;WZͿ
ϯϲ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽƉƌŽŵŽƚĞůŽĐĂůŚĞĂůƚŚ
ƐĞƌǀŝĐĞƉƌŽǀŝĚĞƌƐƉĂƌƚŝĐŝƉĂƚŝŽŶŝŶĐŽŵŵƵŶŝƚLJͲǁŝĚĞŚĞĂůƚŚĨĂŝƌƐĂŶĚƐŝŵŝůĂƌĞǀĞŶƚƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘WΘZ
ĐŽůůĂďŽƌĂƚĞƐǁŝƚŚ,ƵŵĂŶĨĨĂŝƌƐŽŵŵŝƚƚĞĞŽŶĐŽŵŵƵŶŝƚLJĞǀĞŶƚƐƚŚĂƚĞŶĐŽƵƌĂŐĞůŽĐĂůƐĞƌǀŝĐĞƉĂƌƚŝĐŝƉĂƚŝŽŶĂŶĚƚŽƐƵƉƉŽƌƚŚĞĂůƚŚŽƌŐĂŶŝnjĂƚŝŽŶƐƚŚƌŽƵŐŚƐŽĐŝĂůŐƌĂŶƚƐ͕ƐƵĐŚĂƐ'ĨƵŶĚŝŶŐŽĨĂŵŝŶŽ,ĞĂůƚŚĞŶƚĞƌΘDŽďŝůĞsĂŶƐ͘

ATTACHMENT 3
90 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^

,
^͕WZ<^EZ
Z
d/KE;WZͿ
ϰϯ KEͲ'K/E' tŚĞƌĞĨĞĂƐŝďůĞ͕ƚŚĞŝƚLJǁŝůů
ŝŵƉůĞŵĞŶƚƚŚĞsŝƐƚĂ>ŽƐDĂƌĞƐZĞǀŝƚĂůŝnjĂƚŝŽŶƌĞĐŽŵŵĞŶĚĂƚŝŽŶƐŝŶƚŚĞhŶŝǀĞƌƐŝƚLJŽĨĂůŝĨŽƌŶŝĂĂƚ/ƌǀŝŶĞ͛Ɛ,ĞĂůƚŚLJŽŵŵƵŶŝƚLJ'ƵŝĚĞ;DĂƌĐŚϮϬϭϮͿ͕ĂƐŐƌĂŶƚĨƵŶĚŝŶŐŝƐĂǀĂŝůĂďůĞ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘/ŵƉůĞŵĞŶƚĂƚŝŽŶ
ŽĐĐƵƌƐĂƐĨƵŶĚŝŶŐĂŶĚƌĞƐŽƵƌĐĞƐĂƌĞĂǀĂŝůĂďůĞ͘

,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϳ͘Ϭϳ ϰϵ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽƌĞƋƵŝƌĞŽƉĞŶƐƉĂĐĞ
ĚĞĚŝĐĂƚŝŽŶŽƌĂƉƉƌŽƉƌŝĂƚĞƉĂƌŬŝŶͲůŝĞƵĨĞĞƐĂƐƉĂƌƚŽĨƚŚĞĚĞǀĞůŽƉŵĞŶƚƌĞǀŝĞǁƉƌŽĐĞƐƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘ZĞǀŝĞǁĞĚďLJ
WƵďůŝĐtŽƌŬƐŝŶĚŝƐĐƌĞƚŝŽŶĂƌLJƌĞǀŝĞǁƉƌŽĐĞƐƐƚŚƌŽƵŐŚDd͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϭ͘Ϭϯ ϭ KEͲ'K/E' DŽŶŝƚŽƌďĞĂĐŚĂƚƚĞŶĚĂŶĐĞĂŶĚ
ƚƌĞŶĚƐŝŶďĞĂĐŚƵƐĂŐĞ͕ƵƐŝŶŐƚŚĞĚĂƚĂƚŽĚĞǀĞůŽƉƉƌŽũĞĐƚŝŽŶƐĨŽƌĨƵƚƵƌĞůŝĨĞŐƵĂƌĚƚŽǁĞƌĂŶĚƐƚĂĨĨŝŶŐŶĞĞĚƐ͘ WƵďůŝĐ^ĂĨĞƚLJ KŶͲŐŽŝŶŐ ĞĂĐŚĂƚƚĞŶĚĂŶĐĞĂŶĚ
ƚƌĞŶĚƐĨŽƌŝŶĚŝǀŝĚƵĂůďĞĂĐŚƵƐĂŐĞĂƌĞĐŽŶƚŝŶƵĂůůLJĞǀĂůƵĂƚĞĚĂŶĚůŝĨĞŐƵĂƌĚƐƚĂĨĨŝŶŐŝƐĂĚũƵƐƚĞĚĂĐĐŽƌĚŝŶŐůLJ͘ƵƌƌĞŶƚƚƌĞŶĚŚĂƐďĞĞŶĂƉŽƉƵůĂƚŝŽŶƐŚŝĨƚĨƌŽŵƚŚĞŶŽƌƚŚĞŶĚŽƵƌŝƚLJďĞĂĐŚĞƐƚŽǁĂƌĚƐƚŚĞƐŽƵƚŚĚƵĞƚŽĞƌŽĚĞĚďĞĂĐŚĞƐŝŶƚŚĞŶŽƌƚŚ͘

ATTACHMENT 3
91 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^

,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϭ͘Ϭϭ ϯ KEͲ'K/E' ^ƵƉƉŽƌƚĂŶĚŵĂŝŶƚĂŝŶĂĐƚŝǀĞ
ƉƌŽŐƌĂŵƐƚŽĞŶŚĂŶĐĞŽĐĞĂŶƐĂĨĞƚLJƚŚƌŽƵŐŚĐŽŵŵƵŶŝƚLJĞĚƵĐĂƚŝŽŶƉƌŽŐƌĂŵƐƐƵĐŚĂƐ͗^ĐŚŽŽůKƵƚƌĞĂĐŚƉƌŽŐƌĂŵ͖:ƵŶŝŽƌ>ŝĨĞŐƵĂƌĚƐ͖ƐĂĨĞƚLJƉƌĞƐĞŶƚĂƚŝŽŶƐƚŽĐŝǀŝĐŐƌŽƵƉƐ͖ĚŝƐƚƌŝďƵƚŝŽŶŽĨƌŝƉĐƵƌƌĞŶƚĂǁĂƌĞŶĞƐƐŵĂƚĞƌŝĂůƐƚŽŚŽƚĞůƐ͕ƚƌŽůůĞLJƐ͕ĂŶĚDĞƚƌŽͲůŝŶŬĞĂĐŚdƌĂŝŶ͖KĐĞĂŶ^ĂĨĞƚLJWƵďůŝĐ^ĂĨĞƚLJŶŶŽƵŶĐĞŵĞŶƚƐ;W^͛ƐͿŽŶzŽƵdƵďĞ͖ĂŶĚEĞŝŐŚďŽƌŚŽŽĚĞĂĐŚtĂƚĐŚƉƌŽŐƌĂŵƚĞĂĐŚŝŶŐƉƌŽĨŝĐŝĞŶƚƐƵƌĨĞƌƐŚŽǁƚŽƐĂĨĞůLJĂƐƐŝƐƚŽƚŚĞƌƐŝŶƚŚĞŽĐĞĂŶ͘ WƵďůŝĐ^ĂĨĞƚLJ KŶͲŐŽŝŶŐ /ŶϮϬϮϮ͕DĂƌŝŶĞ^ĂĨĞƚLJ
ƉƌĞƐĞŶƚĞĚŽĐĞĂŶƐĂĨĞƚLJƚĂůŬƐƚŽĞŝŐŚƚĞůĞŵĞŶƚĂƌLJƐĐŚŽŽůƐ͕ƌĞĂĐŚŝŶŐĂŶĞƐƚŝŵĂƚĞĚϭ͕ϲϲϬƉĂƌƚŝĐŝƉĂŶƚƐ͖ƚĂƵŐŚƚEĞŝŐŚďŽƌŚŽŽĚĞĂĐŚtĂƚĐŚƚŽϭ͕ϬϬϬƉĂƌƚŝĐŝƉĂŶƚƐ͖ƉƌŽǀŝĚĞĚƌŝƉĐƵƌƌĞŶƚƐĂĨĞƚLJƉŽƐƚĞƌƐĨŽƌĂůůĨŝǀĞŝƚLJƚƌŽůůĞLJƐ͖ĂŶĚĚŝƐƚƌŝďƵƚĞĚƌŝƉĐƵƌƌĞŶƚĂǁĂƌĞŶĞƐƐŵĂƚĞƌŝĂůƐƚŽŚŽƚĞůƐǁŝƚŚŝŶ^ĂŶůĞŵĞŶƚĞ͘dĂƵŐŚƚŽǀĞƌϴϬϬ:ƵŶŝŽƌ>ŝĨĞŐƵĂƌĚƉĂƌƚŝĐŝƉĂŶƚƐŽĐĞĂŶƐĂĨĞƚLJ͖ĂŶĚƉƌŽĚƵĐĞĚĂŶĚƉŽƐƚĞĚƐĞǀĞƌĂůŽŶĞͲŵŝŶƵƚĞW^͛ƐŽŶŽĐĞĂŶƐĂĨĞƚLJŽŶzŽƵdƵďĞĂŶĚƚŚĞŝƚLJǁĞďƐŝƚĞ͘ džƉůŽƌĞŽƚŚĞƌƐŽĐŝĂůŵĞĚŝƵŵƐƚŽƌĞĂĐŚŵŽƌĞĞĂĐŚǀŝƐŝƚŽƌƐĨŽƌŽĐĞĂŶƐĂĨĞƚLJĞĚƵĐĂƚŝŽŶƉƵƌƉŽƐĞƐ͘ 
,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϯ͘Ϭϭ͕WZͲϯ͘ϬϮ͕WZͲϯ͘Ϭϯ
ϭϯ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽŵĂŝŶƚĂŝŶĂŶĚĞŶŚĂŶĐĞ
ƚŚĞŝƚLJ͛ƐďĞĂĐŚĞƐĂŶĚDƵŶŝĐŝƉĂůWŝĞƌĂŶĚƐĞĞŬŽƵƚƐŝĚĞĨƵŶĚŝŶŐƐŽƵƌĐĞƐƚŽŚĞůƉƐƵƉƉŽƌƚƚŚĞƐĞĞĨĨŽƌƚƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ dŚŝƐŝƐĂŶŽŶŐŽŝŶŐĞĨĨŽƌƚ
ǁŝƚŚƌĞŐƵůĂƌŵĂŝŶƚĞŶĂŶĐĞ͘

ATTACHMENT 3
92 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^

,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϯ͘Ϭϲ ϭϰĂ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽĞŶŚĂŶĐĞƚŚĞďĞĂĐŚĞƐ
ĂŶĚďĞĂĐŚƐƵƉƉŽƌƚĨĂĐŝůŝƚŝĞƐĂƚƚŚĞDƵŶŝĐŝƉĂůWŝĞƌ͕ƌĞĐŽŐŶŝnjŝŶŐƚŚĞŝƌŝŵƉŽƌƚĂŶĐĞĂƐŝƚLJŐĂƚĞǁĂLJƐ͕ĂŶĚEŽƌƚŚĞĂĐŚƚƌĂŝŶƐƚĂƚŝŽŶƐ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶŐŽŝŶŐĞĨĨŽƌƚ͘ŽŵƉůĞƚĞĚ
EŽƌƚŚĞĂĐŚŽƉƉŽƌƚƵŶŝƐƚŝĐƉƌŽũĞĐƚŝŶůĂƚĞϮϬϭϲ͘

,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϯ͘ϭϬ͕WZͲϯ͘ϭϬ͕WZͲϯ͘ϭϭ
ϭϱ KEͲ'K/E' ^ĞĞŬƐĂŶĚŶŽƵƌŝƐŚŵĞŶƚĂŶĚ
ƌĞƉůĂĐĞŵĞŶƚĨƵŶĚŝŶŐŽƉƉŽƌƚƵŶŝƚŝĞƐƚŽĞŶƐƵƌĞďĞĂĐŚŐŽĞƌƐŚĂǀĞĂŚŝŐŚƋƵĂůŝƚLJďĞĂĐŚĞdžƉĞƌŝĞŶĐĞĂŶĚƚŽŵĂŝŶƚĂŝŶŽŶŐŽŝŶŐŵŽŶŝƚŽƌŝŶŐĂĐƚŝǀŝƚŝĞƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲ'ŽŝŶŐ͗ZĞĐĞŝǀĞĚŐƌĂŶƚƐ
ƚŽĐŽŶƚŝŶƵĞƉƵƌƐƵŝŶŐĨĞĚĞƌĂůƐĂŶĚƉƌŽũĞĐƚ͘

,
^͕WZ<^EZ
Z
d/KE;WZͿ
WZͲϯ͘ϬϮ ϭϲ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽƉƌŽǀŝĚĞĂŶĚŵĂŝŶƚĂŝŶ
ďĞĂĐŚĨŝƌĞƉŝƚƐŝŶĚĞƐŝŐŶĂƚĞĚƉƵďůŝĐďĞĂĐŚůŽĐĂƚŝŽŶƐ͘
WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ

,
^͕WZ<^EZ
Z
d/KE;WZͿ
Ϯϳ KEͲ'K/E' /ŵƉůĞŵĞŶƚƚŚĞŝĐLJĐůĞĂŶĚ
WĞĚĞƐƚƌŝĂŶDĂƐƚĞƌWůĂŶďLJĂůůŽĐĂƚŝŶŐĂƉŽƌƚŝŽŶŽĨƚŚĞĂŶŶƵĂůŝƚLJďƵĚŐĞƚƚŽĐŽŵƉůĞƚĞƐŝĚĞǁĂůŬƉƌŽũĞĐƚƐƚŚĂƚŝŶĨŝůůƉƵďůŝĐƐŝĚĞǁĂůŬŐĂƉƐĂŶĚƉƌŽǀŝĚĞĐŽŶŶĞĐƚŝǀŝƚLJ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ KŶͲ'ŽŝŶŐ͗ĚĚƌĞƐƐŶĞǁ ƉƌŽũĞĐƚƐĂƐĨĞĂƐŝďůĞ͘

ATTACHMENT 3
93 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
K^d>;Ϳ Ͳϭ͘Ϭϭ͕Ͳ
ϭ͘ϬϮ͕Ͳϭ͘Ϭϯ͕Ͳϭ͘Ϭϰ
ϯ KEͲ'K/E' WƌŽƚĞĐƚƚŚĞƉƵďůŝĐ͛ƐƌŝŐŚƚŽĨĐŽĂƐƚĂů
ĂĐĐĞƐƐǁŚĞƌĞĞƐƚĂďůŝƐŚĞĚƚŚƌŽƵŐŚƉƵďůŝĐŽǁŶĞƌƐŚŝƉ͕ůĞŐŝƐůĂƚŝǀĞĂƵƚŚŽƌŝnjĂƚŝŽŶƉƌĞƐĐƌŝƉƚŝǀĞƌŝŐŚƚƐ͕ĂƐĂĚũƵĚŝĐĂƚĞĚďLJĂĐŽƵƌƚŽĨůĂǁ͘tŚĞƌĞĂƉƉƌŽƉƌŝĂƚĞĂŶĚůĞŐĂůůLJƉĞƌŵŝƐƐŝďůĞ͕ŶĞǁĚĞǀĞůŽƉŵĞŶƚƐŚĂůůďĞĚĞƐŝŐŶĞĚƚŽƉƌŽǀŝĚĞƉƵďůŝĐĂĐĐĞƐƐŽƌďĞƌĞƋƵŝƌĞĚƚŽƉƌŽǀŝĚĞƉƵďůŝĐĂĐĐĞƐƐŽƌŝƌƌĞǀŽĐĂďůĞŽĨĨĞƌƚŽƉƌŽǀŝĚĞƉƵďůŝĐĂĐĐĞƐƐ͕ĂƐĂĐŽŶĚŝƚŝŽŶŽĨĚĞǀĞůŽƉŵĞŶƚ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘DŽŶŝƚŽƌĂŶĚ
ƉƌŽƚĞĐƚĐŽĂƐƚĂůĂĐĐĞƐƐƚŚƌŽƵŐŚĚŝƐĐƌĞƚŝŽŶĂƌLJƉƌŽĐĞƐƐ;ĐŽŶĚŝƚŝŽŶƐŽĨĂƉƉƌŽǀĂůĂŶĚĚĞƐŝŐŶƌĞǀŝĞǁͿĂŶĚƉůĂŶĐŚĞĐŬƐǁŝƚŚŽĂƐƚĂůŽŵŵŝƐƐŝŽŶ͘ K^d>;Ϳ Ͳϭ͘Ϭϰ ϰ KEͲ'K/E' /ĚĞŶƚŝĨLJĂŶĚƌĞƋƵŝƌĞƉƌŽƉĞƌƚLJŽǁŶĞƌƐ ƚŽƌĞŵŽǀĞĂůůŶŽŶͲƉĞƌŵŝƚƚĞĚƐƚƌƵĐƚƵƌĞƐ͕ŝŶĐůƵĚŝŶŐƐŝŐŶƐĂŶĚĨĞŶĐŝŶŐ͕ǁŚŝĐŚŝŶŚŝďŝƚůĞŐĂůƉƵďůŝĐĂĐĐĞƐƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘WĂƌƚŽĨĐŽĚĞ
ĞŶĨŽƌĐĞŵĞŶƚĚƵƚŝĞƐ͕ĂůŽŶŐǁŝƚŚĐŽůůĂďŽƌĂƚŝŽŶǁŝƚŚƚŚĞŽĂƐƚĂůŽŵŵŝƐƐŝŽŶΖƐĞŶĨŽƌĐĞŵĞŶƚĚŝǀŝƐŝŽŶ͘ K^d>;Ϳ Ͳϭ͘ϭϭ ϲ KEͲ'K/E' hƉĚĂƚĞƚŚĞŝƚLJ͛ƐǁĞďƐŝƚĞƚŽ ĨĂĐŝůŝƚĂƚĞƌĞŐŝŽŶĂůĂĐĐĞƐƐĨƌŽŵ/ŶƚĞƌƐƚĂƚĞϱƚŽĐŽĂƐƚĂůĚĞƐƚŝŶĂƚŝŽŶƐ;Ğ͘Ő͕͘ĞůDĂƌ͕WŝĞƌŽǁů͕EŽƌƚŚĞĂĐŚͿ͕ƉƌŝŵĂƌLJďĞĂĐŚĂĐĐĞƐƐƉŽŝŶƚƐ͕ƉĂƌŬƐ͕ƉƵďůŝĐƉĂƌŬŝŶŐĂƌĞĂƐ͕ƉƌŽŵŝŶĞŶƚŶĂƚƵƌĂůĨĞĂƚƵƌĞƐĂŶĚŝƚLJĞŶƚƌLJƉŽŝŶƚƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘tĞďƐŝƚĞ
ŝŵƉƌŽǀĞŵĞŶƚƐŵĂĚĞĂƐŽƉƉŽƌƚƵŶŝƚŝĞƐĂƌŝƐĞ͘/ŶĨŽƌŵĂƚŝŽŶĂĚĚĞĚƚŽŝƚLJĐŽŵŵƵŶŝƚLJŵĂƉƐ;ŽŶǁĞďƐŝƚĞͿŝŶĐůƵĚŝŶŐďĞĂĐŚĂĐĐĞƐƐĂŶĚĂŵĞŶŝƚŝĞƐ͕ƚƌĂŝůƐ͕ƉĂƌŬƐ͕ĞƚĐ͘

ATTACHMENT 3
94 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
K^d>;Ϳ Ͳϭ͘ϭϰ ϳ KEͲ'K/E' WƌĞƐĞƌǀĞĞdžŝƐƚŝŶŐĂŶĚŝĚĞŶƚŝĨLJ ŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌĂŶĚĞŶĐŽƵƌĂŐĞŶĞǁůŽǁĐŽƐƚŽǀĞƌŶŝŐŚƚĂĐĐŽŵŵŽĚĂƚŝŽŶƐŝŶƚŚĞŽĂƐƚĂůŽŶĞ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘dŚƌŽƵŐŚůŝĂŝƐŽŶ
ƉƌŽŐƌĂŵ͕ƉůĂŶŶŝŶŐƐƚĂĨĨƉƌŽǀŝĚĞƐŐƵŝĚĂŶĐĞƚŽďƵƐŝŶĞƐƐĂŶĚƉƌŽƉĞƌƚLJŽǁŶĞƌƐǁŝƚŚŝŶƚĞƌĞƐƚŝŶĞƐƚĂďůŝƐŚŝŶŐĂĐĐŽŵŵŽĚĂƚŝŽŶƵƐĞƐŝŶĐŽĂƐƚĂůnjŽŶĞ͘ K^d>;Ϳ Ͳϭ͘Ϭϭ͕Ͳ
ϭ͘ϬϮ
ϴ KEͲ'K/E' ĐĐĞƐƐŵĂŶĂŐĞŵĞŶƚƉƌŽŐƌĂŵƐĨŽƌ
ĂƉŝƐƚƌĂŶŽ^ŚŽƌĞƐĂŶĚƚŚĞƉƌŝǀĂƚĞďĞĂĐŚĂƌĞĂŶŽƌƚŚŽĨĂƉŝƐƚƌĂŶŽ^ŚŽƌĞƐ͕>Ă>ĂĚĞƌĂ͕LJƉƌƵƐ^ŚŽƌĞƐ͕LJƉƌƵƐŽǀĞ͕ĂŶĚŽƚƚŽŶ͛ƐWŽŝŶƚƉƌŝǀĂƚĞĐŽŵŵƵŶŝƚŝĞƐƐŚĂůůďĞƉƌĞƉĂƌĞĚǁŚĞŶĚĞǀĞůŽƉŵĞŶƚŝƐƉƌŽƉŽƐĞĚŝŶŽŶĞŽĨƚŚĞƐĞƉƌŝǀĂƚĞĐŽŵŵƵŶŝƚŝĞƐĂŶĚĂƉƌŽƉĞƌƚLJŽǁŶĞƌŝƐƌĞƋƵŝƌĞĚƚŽĚĞĚŝĐĂƚĞƉƵďůŝĐĐŽĂƐƚĂůĂĐĐĞƐƐ͘dŚĞƉƵƌƉŽƐĞŽĨƐƵĐŚƉƌŽŐƌĂŵƐƐŚĂůůďĞƚŽƉƌŽǀŝĚĞŵĂdžŝŵƵŵƉƵďůŝĐĂĐĐĞƐƐĐŽŶƐŝƐƚĞŶƚǁŝƚŚƚŚĞŽĂƐƚĂůĐƚŽĨϭϵϳϲ͘dŚĞĂĐĐĞƐƐŵĂŶĂŐĞŵĞŶƚƉƌŽŐƌĂŵƐƐŚĂůůďĞŝŵƉůĞŵĞŶƚĞĚďLJƚŚĞŝƚLJŽĨ^ĂŶůĞŵĞŶƚĞ͕ŽƚŚĞƌƉƵďůŝĐĂŐĞŶĐŝĞƐŽƌďLJƉƌŝǀĂƚĞŚŽŵĞŽǁŶĞƌĂƐƐŽĐŝĂƚŝŽŶƐƚŚĂƚĂĐĐĞƉƚƚŚĞŽĨĨĞƌƐŽĨĚĞĚŝĐĂƚŝŽŶ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘DŽŶŝƚŽƌĂŶĚ
ƉƌŽƚĞĐƚĐŽĂƐƚĂůĂĐĐĞƐƐƚŚƌŽƵŐŚĚŝƐĐƌĞƚŝŽŶĂƌLJƉƌŽĐĞƐƐ;ĐŽŶĚŝƚŝŽŶƐŽĨĂƉƉƌŽǀĂůĂŶĚĚĞƐŝŐŶƌĞǀŝĞǁͿ͘ ŶĨŽƌĐĞŵĞŶƚŝŶĐŽůůĂďŽƌĂƚŝŽŶďĞƚǁĞĞŶŝƚLJĐŽĚĞĞŶĨŽƌĐĞŵĞŶƚĂŶĚŵĂŝŶƚĞŶĂŶĐĞƐƚĂĨĨ͕ƚŚĞKƌĂŶŐĞŽƵŶƚLJ^ŚĞƌŝĨĨΖƐĚĞƉĂƌƚŵĞŶƚ͕ĂŶĚƚŚĞĂůŝĨŽƌŶŝĂŽĂƐƚĂůŽŵŵŝƐƐŝŽŶ͘ K^d>;Ϳ 'ŽĂůϰ ϭϲ KEͲ'K/E' hƉĚĂƚĞŚĂnjĂƌĚŵĂƉƐ;Ğ͘Ő͕͘ƐĞĂůĞǀĞů ƌŝƐĞ͕ĨůŽŽĚnjŽŶĞƐ͕ĞƚĐ͘ͿĂƐŶĞǁŝŶĨŽƌŵĂƚŝŽŶďĞĐŽŵĞƐĂǀĂŝůĂďůĞ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘/ŶĐůƵĚĞĚŝŶ>ŽĐĂů
ŽĂƐƚĂůWƌŽŐƌĂŵ^ĞĂ>ĞǀĞůZŝƐĞsƵůŶĞƌĂďŝůŝƚLJƐƐĞƐƐŵĞŶƚ͘

ATTACHMENT 3
95 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
K^d>;Ϳ Ͳϭ͘Ϭϳ Ϯ KEͲ'K/E' DĂŝŶƚĂŝŶƚŚĞ^ĂŶůĞŵĞŶƚĞĞĂĐŚ dƌĂŝůƐĂƐƉĂƌƚŽĨƚŚĞĂůŝĨŽƌŶŝĂŽĂƐƚĂůdƌĂŝůƐŝƚŝŶŐĂŶĚĚĞƐŝŐŶƐƚĂŶĚĂƌĚ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲ'ŽŝŶŐ͘
K^d>;Ϳ Ͳϭ͘Ϭϲ͕Ͳ
ϭ͘ϭϭ
ϱ KEͲ'K/E' WĞƌŝŽĚŝĐĂůůLJŝŶǀĞŶƚŽƌLJďĞĂĐŚĂĐĐĞƐƐ
ĨĂĐŝůŝƚŝĞƐƚŽŝĚĞŶƚŝĨLJĂĐĐĞƐƐŶĞĞĚƐ͘ĂƐĞĚŽŶƚŚĞŝŶǀĞŶƚŽƌLJ͕ƉƌĞƉĂƌĞĐĂƉŝƚĂůŝŵƉƌŽǀĞŵĞŶƚƐƉƌŽũĞĐƚƐĂŶĚͬŽƌĞƐƚĂďůŝƐŚƐĐŚĞĚƵůĞĨŽƌƌĞŶŽǀĂƚŝŶŐĂĐĐĞƐƐĨĂĐŝůŝƚŝĞƐ͕ĂŶĚƵƉĚĂƚĞƚŚĞŝƚLJ͛ƐǁĂLJͲĨŝŶĚŝŶŐƉƌŽŐƌĂŵƚŽĨĂĐŝůŝƚĂƚĞƌĞŐŝŽŶĂůĂĐĐĞƐƐĨƌŽŵ/ŶƚĞƌƐƚĂƚĞϱƚŽĐŽĂƐƚĂůĚĞƐƚŝŶĂƚŝŽŶƐ;Ğ͘Ő͕͘ĞůDĂƌ͕WŝĞƌŽǁů͕EŽƌƚŚĞĂĐŚͿ͕ƉƌŝŵĂƌLJďĞĂĐŚĂĐĐĞƐƐƉŽŝŶƚƐ͕ƉĂƌŬƐ͕ƉƵďůŝĐƉĂƌŬŝŶŐĂƌĞĂƐ͕ƉƌŽŵŝŶĞŶƚŶĂƚƵƌĂůĨĞĂƚƵƌĞƐĂŶĚŝƚLJĞŶƚƌLJƉŽŝŶƚƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ KŶͲŐ'ŽŝŶŐ͗^ƚĂĨĨŝŶŐ ZĞƐŽƵƌĐĞƐ͕&ƵŶĚŝŶŐ>ŝŵŝƚĂƚŝŽŶƐ͘WĂƌƚŽĨŽŶͲ
ŐŽŝŶŐĂƐƐĞƚŝŶƐƉĞĐƚŝŽŶĂŶĚŵĂŝŶƚĞŶĂŶĐĞƉƌŽŐƌĂŵ͘

ATTACHMENT 3
96 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
K^d>;Ϳ Ͳϭ͘Ϭϲ ϭϭ KEͲ'K/E' ^ĞĞŬĨƵŶĚŝŶŐƚŽŵĂŝŶƚĂŝŶĂŶĚ ŝŵƉƌŽǀĞĂĐĐĞƐƐǁĂLJƐ͕ŝŵƉůĞŵĞŶƚĐŽŵƉůĞƚĞƐƚƌĞĞƚƐƉƌŽũĞĐƚƐĂƐŝĚĞŶƚŝĨŝĞĚŝŶƚŚĞDŽďŝůŝƚLJĂŶĚŽŵƉůĞƚĞ^ƚƌĞĞƚƐ ůĞŵĞŶƚ͕ĂŶĚƚŽĞŶŚĂŶĐĞƉƵďůŝĐĐŽĂƐƚĂůĂĐĐĞƐƐ͕ŝŶĐůƵĚŝŶŐ͗Ă͘/ŵƉƌŽǀĞĚƉĞĚĞƐƚƌŝĂŶƌĂŝůƌŽĂĚĐƌŽƐƐŝŶŐƐƚŚƌŽƵŐŚƚŚĞĐŽŶƐƚƌƵĐƚŝŽŶŽĨĂƚͲŐƌĂĚĞ͕ĂďŽǀĞͲŐƌĂĚĞ͕ŽƌďĞůŽǁͲŐƌĂĚĞĐƌŽƐƐŝŶŐƐĂƚĞdžŝƐƚŝŶŐĂĐĐĞƐƐǁĂLJƐ͘ď͘ĚĚŝƚŝŽŶĂůŽĨĨͲƐƚƌĞĞƚƉƵďůŝĐƉĂƌŬŝŶŐƐƉĂĐĞƐĂƚŽƌŶĞĂƌƉƵďůŝĐĐŽĂƐƚĂůĂĐĐĞƐƐǁĂLJƐƚŚƌŽƵŐŚŝŵƉƌŽǀĞŵĞŶƚƐŽĨĞdžŝƐƚŝŶŐďĞĂĐŚƉĂƌŬŝŶŐůŽƚƐĂŶĚĐƌĞĂƚŝŽŶŽĨƉĂƌŬŝŶŐůŽƚƐ͕ǁŚĞƌĞĨĞĂƐŝďůĞ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ
K^d>;Ϳ Ͳϭ͘Ϭϭ ϭϱ KEͲ'K/E' /ŵƉůĞŵĞŶƚŝƚLJWŽůŝĐŝĞƐĂŶĚ WƌŽĐĞĚƵƌĞƐ;ĞĨĨĞĐƚŝǀĞĚĂƚĞ^ĞƉƚĞŵďĞƌϱ͕ϮϬϬϭͿƌĞŐĂƌĚŝŶŐDĂŶĂŐĞŵĞŶƚŽĨĞĂĐŚ&ĂĐŝůŝƚŝĞƐŝŶƚĞƌŵƐŽĨƚŚĞŝƌŵĂŝŶƚĞŶĂŶĐĞ͕ƌĞƉůĂĐĞŵĞŶƚ͕ƉƌŽƚĞĐƚŝŽŶ͕ŽƌƌĞůŽĐĂƚŝŽŶ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ

ATTACHMENT 3
97 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
K^d>;Ϳͬ^&
dz;^Ϳ
Ͳϰ͘Ϭϰ͕^Ͳϳ͘ϬϮ
ϭϮ KEͲ'K/E' DŽŶŝƚŽƌďĞĂĐŚĞƌŽƐŝŽŶĂŶĚƚŚĞ
ůŝŵŝƚĂƚŝŽŶƐƌĞĚƵĐĞĚďĞĂĐŚǁŝĚƚŚƐǁŝůůŚĂǀĞŽŶĞŵĞƌŐĞŶĐLJƚƌĂŶƐƉŽƌƚĂƚŝŽŶĂĐĐĞƐƐĂŶĚůŝĨĞŐƵĂƌĚƚŽǁĞƌƉůĂĐĞŵĞŶƚ͘ĞǀĞůŽƉĂůƚĞƌŶĂƚŝǀĞůŝĨĞŐƵĂƌĚƚŽǁĞƌĚĞƐŝŐŶƐ͕ĂŶĚŵĞƚŚŽĚƐĨŽƌƐĂĨĞůLJƚƌĂŶƐƉŽƌƚŝŶŐĞƋƵŝƉŵĞŶƚ͕ƉĞƌƐŽŶŶĞů͕ĂŶĚŝŶũƵƌĞĚƉĞƌƐŽŶƐĂƐŶĞĐĞƐƐĂƌLJ͘ WƵďůŝĐ^ĂĨĞƚLJ KŶͲŐŽŝŶŐ ƐďĞĂĐŚǁŝĚƚŚƐŚĂǀĞ
ŶĂƌƌŽǁĞĚǁŝƚŚĞƌŽƐŝŽŶ͕DĂƌŝŶĞ^ĂĨĞƚLJŚĂƐƌĞĚƵĐĞĚƚŚĞŶƵŵďĞƌŽĨĨƵůůͲƐŝnjĞĚ:ĞĞƉƐĨƌŽŵƚŚƌĞĞƚŽƚǁŽĂŶĚŝŶĐƌĞĂƐĞĚƚŚĞŶƵŵďĞƌŽĨƐŵĂůůĞƌds͛Ɛ͕ĂƐǁĞůůĂƐŝŶĐƌĞĂƐŝŶŐƚŚĞƵƐĞŽĨƚŚĞ ŵĞƌŐĞŶĐLJWĞƌƐŽŶĂůtĂƚĞƌĐƌĂĨƚĨŽƌƌĞĂĐŚŝŶŐĞŵĞƌŐĞŶĐŝĞƐǀŝĂƚŚĞǁĂƚĞƌ͘/ŶƚŚĞĨƵƚƵƌĞ͕ŶĞǁůŝĨĞŐƵĂƌĚƚŽǁĞƌĚĞƐŝŐŶƐŽƌƉŽƌƚĂďůĞƚŽǁĞƌƐŵĂLJďĞŶĞĐĞƐƐĂƌLJ͕ƐŵĂůůĞƌǀĞŚŝĐůĞƐƵƐĞĚĂƐǁĞůůĂƐŵŽƌĞŚĂŶĚƚƌĂŶƐƉŽƌƚĂƚŝŽŶŽĨƉĂƚŝĞŶƚƐ͕ĂŶĚĐŽŶƐŝĚĞƌĂƚŝŽŶŽĨƵƐŝŶŐŵŽƌĞŽĨĨƐŚŽƌĞŵŽĚĞƐŽĨƌĞƐƉŽŶƐĞǀŝĂǁĂƚĞƌĐƌĂĨƚŽƌďŽĂƚŵĂLJďĞŶĞĐĞƐƐĂƌLJ͘

ATTACHMENT 3
98 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
K^d>Ξ Ͳϰ͘Ϭϯ͕Ͳ
ϰ͘Ϭϰ͕Ͳϰ͘Ϭϱ͕Ͳϰ͘Ϭϲ
ϭϳ KEͲ'K/E' WƌĞƉĂƌĞĂŶĚŝŵƉůĞŵĞŶƚĂƐŚŽƌĞůŝŶĞ
ŵĂŶĂŐĞŵĞŶƚƐƚƌĂƚĞŐLJǁŚŝĐŚŝŶĐůƵĚĞƐ͕ďƵƚŝƐŶŽƚůŝŵŝƚĞĚƚŽ͕ƚŚĞĨŽůůŽǁŝŶŐ͗ĂͿŶĞdžĂŵŝŶĂƚŝŽŶŽĨůŽĐĂůĂŶĚƌĞŐŝŽŶĂůůŽŶŐͲƚĞƌŵĞƌŽƐŝŽŶƌĂƚĞƐĂŶĚƚƌĞŶĚƐƚŽŝĚĞŶƚŝĨLJĂŶĚƉůĂŶĨŽƌƐŚŽƌĞůŝŶĞĐŚĂŶŐĞƐ͕ďͿŶĞdžĂŵŝŶĂƚŝŽŶŽĨŵĞĂŶƐĞĂůĞǀĞůĞůĞǀĂƚŝŽŶƚƌĞŶĚƐĂŶĚĨƵƚƵƌĞƐĞĂůĞǀĞůƌŝƐĞƉƌŽũĞĐƚŝŽŶƐƚŽŚĞůƉĚĞƚĞƌŵŝŶĞĨƵƚƵƌĞĞƌŽƐŝŽŶƌĂƚĞƐĂŶĚƉůĂŶĨŽƌƉŽƚĞŶƚŝĂůƐŚŽƌĞůŝŶĞĐŚĂŶŐĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘ŝƚLJŝŶƚĞŶĚƐƚŽ
ƉƵƌƐƵĞŐƌĂŶƚĨƵŶĚŝŶŐĨŽƌƐĂŶĚƌĞƉůĞŶŝƐŚŵĞŶƚĂŶĚŽƚŚĞƌƐĞĂůĞǀĞůƌŝƐĞĂĚĂƉƚĂƚŝŽŶƐƚƌĂƚĞŐŝĞƐĐŽŶƐŝƐƚĞŶƚǁŝƚŚƚŚĞ>ŽĐĂůŽĂƐƚĂůWƌŽŐƌĂŵ͘

ATTACHMENT 3
99 >
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^

KEKD/
s
>KWD
Ed;
Ϳ

ͲϮ͘ϬϮ͕Ϯ͘Ϭϰ
ϵ KEͲ'K/E' WĂƌƚŶĞƌǁŝƚŚƌĞŐŝŽŶĂůďƵƐŝŶĞƐƐ
ƐƵƉƉŽƌƚĂŐĞŶĐŝĞƐ͕ƐƵĐŚĂƐƚŚĞKƌĂŶŐĞŽƵŶƚLJtŽƌŬĨŽƌĐĞ/ŶǀĞƐƚŵĞŶƚŽĂƌĚĂŶĚƚŚĞKƌĂŶŐĞŽƵŶƚLJ^ŵĂůůƵƐŝŶĞƐƐĞǀĞůŽƉŵĞŶƚĞŶƚĞƌ͕ƚŽĞŶƐƵƌĞďƵƐŝŶĞƐƐĞƐŝŶ^ĂŶůĞŵĞŶƚĞĂƌĞĂǁĂƌĞŽĨĂŶĚŚĂǀĞĂĐĐĞƐƐƚŽǁŽƌŬĨŽƌĐĞƌĞĐƌƵŝƚŵĞŶƚĂŶĚƚƌĂŝŶŝŶŐƐĞƌǀŝĐĞƐ͕ĂŶĚƚŽĞŶƐƵƌĞƌĞƐŝĚĞŶƚƐĂƌĞĂǁĂƌĞŽĨĂŶĚŚĂǀĞĂĐĐĞƐƐƚŽũŽďƐĞĂƌĐŚĂŶĚďƵƐŝŶĞƐƐƐƚĂƌƚͲƵƉƚƌĂŝŶŝŶŐ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ
ĐŽŶŽŵŝĐ
ĞǀĞůŽƉŵĞŶƚ^ƚĂĨĨĐŽŽƌĚŝŶĂƚĞĚĂƚƌĂŝŶŝŶŐĂŶĚŐƌĂŶƚƉƌŽŐƌĂŵŝŶ&zϮϯǁŝƚŚƚŚĞ^ƚŽƐƵƉƉŽƌƚůŽĐĂůƐŵĂůůďƵƐŝŶĞƐƐĞƐŝŵƉƌŽǀĞƚŚĞŝƌŽŶůŝŶĞƉƌĞƐĞŶĐĞ͘^ƚĂĨĨŚĂƐĂůƐŽƉĂƌƚŝĐŝƉĂƚĞĚŝŶŵĞĞƚŝŶŐƐǁŝƚŚƚŚĞ^ĂŶůĞŵĞŶƚĞŚĂŵďĞƌŽĨŽŵŵĞƌĐĞƚŽŚŽƐƚĂũŽďĨĂŝƌŝŶĂƐƐŽĐŝĂƚŝŽŶǁŝƚŚKƌĂŶŐĞŽƵŶƚLJtŽƌŬĨŽƌĐĞĞǀĞůŽƉŵĞŶƚĂŶĚĞdžƉůŽƌĞĞdžƉĂŶĚŝŶŐǁŽƌŬĨŽƌĐĞƐĞƌǀŝĐĞƐĂŶĚƉƌŽŐƌĂŵƐůŽĐĂůůLJ͘ĨĂĐŝůŝƚĂƚĞĚĂƉƌĞƐĞŶƚĂƚŝŽŶďLJƚŚĞtŽƌŬĨŽƌĐĞ/ŶǀĞƐƚŵĞŶƚŽĂƌĚƚŽƚŚĞŚĂŵďĞƌŽĨŽŵŵĞƌĐĞ͕Ă ũŽďĨĂŝƌĂƚƚŚĞ^ĂŶ
ůĞŵĞŶƚĞŽƵƚůĞƚƐ͕ĂŶĚƉŽƐƚĞĚƚŚĞũŽďĨĂŝƌƌĞƐŽƵƌĐĞƐŽŶƚŚĞŝƚLJ͛ƐǁĞďƉĂŐĞ͘ hƉĚĂƚĞĚŶŽƚĞƐŽŶƐƚĂƚƵƐ͘

ATTACHMENT 3
100

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^

KEKD/
s
>KWD
Ed;
Ϳ
ηηη KEͲ'K/E'
džƉůŽƌĞŽƉƉŽƌƚƵŶŝƚŝĞƐƚŽƉĂƌƚŶĞƌ
ǁŝƚŚĂďƵƐŝŶĞƐƐ͞ŝŶĐƵďĂƚŽƌ͟ŝŶ^ĂŶůĞŵĞŶƚĞ͘ƚƚƌĂĐƚŚŝŐŚĞƌĞĚƵĐĂƚŝŽŶĨĂĐŝůŝƚŝĞƐƚŽ^ĂŶůĞŵĞŶƚĞ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ ŝƚLJƐƚĂĨĨŵĞƚǁŝƚŚLJŽƵŶŐ
ǁŽƌŬĨŽƌĐĞƚƌĂŝŶŝŶŐͬƐƚĂƌƚƵƉĂŶĐŚŽƌ͖ƌĞƉƌĞƐĞŶƚĂƚŝǀĞŝƐĞdžƉůŽƌŝŶŐƉĂƌƚŶĞƌƐŚŝƉƐŚĂƐĚŝƐĐƵƐƐĞĚƚŚĞƉŽƐƐŝďŝůŝƚLJŽĨƉĂƌƚŶĞƌŝŶŐǁŝƚŚKƌĂŶŐĞŽƵŶƚLJtŽƌŬĨŽƌĐĞĞǀĞůŽƉŵĞŶƚŝŶƉƌŽǀŝĚŝŶŐĂĚĚŝƚŝŽŶĂůƐŵĂůůďƵƐŝŶĞƐƐĂŶĚũŽďͲƐĞĞŬĞƌƌĞƐŽƵƌĐĞƐůŽĐĂůůLJ͘ ŚĂŶŐĞďĂĐŬƚŽ'ĞŶĞƌĂů
WůĂŶ/D͖ƵƉĚĂƚĞĚŶŽƚĞƐŽŶƐƚĂƚƵƐ͘

KEKD/
s
>KWD
Ed;
Ϳ

ͲϮ͘Ϭϯ ϭϮ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽƐƵƉƉŽƌƚĂŶĚƉƌŽŵŽƚĞĂŶ
ĂŶŶƵĂůďƵƐŝŶĞƐƐĂǁĂƌĚƐƉƌŽŐƌĂŵƚŽƌĞĐŽŐŶŝnjĞ^ĂŶůĞŵĞŶƚĞ͛ƐŽƵƚƐƚĂŶĚŝŶŐďƵƐŝŶĞƐƐĐŝƚŝnjĞŶƐ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ ^ƵƉƉŽƌƚĐŽŶƚŝŶƵĞĚŝŶ
ϮϬϮϭĂƚĂƚƚŚĞŝƚLJƐƵƉƉŽƌƚƐƚŚĞŚĂŵďĞƌ͛Ɛ
ŶŶƵĂůDĞĞƚŝŶŐŽĨDĞŵďĞƌƐĂŶĚǁĂƌĚƐĞƌĞŵŽŶLJ͘
hƉĚĂƚĞĚŶŽƚĞƐŽŶƐƚĂƚƵƐ͘

ATTACHMENT 3
101

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^

KEKD/
s
>KWD
Ed;
Ϳ

Ͳϱ͘Ϭϲ ϭϱ KEͲ'K/E' /ŵƉůĞŵĞŶƚĂŶĚƵƉĚĂƚĞƚŚĞ
/ŶĨŽƌŵĂƚŝŽŶdĞĐŚŶŽůŽŐLJ^ƚƌĂƚĞŐŝĐWůĂŶĂƐŶĞĞĚĞĚƚŽŐƵŝĚĞĐŽŵŵƵŶŝĐĂƚŝŽŶĂŶĚŝŶĨŽƌŵĂƚŝŽŶƚĞĐŚŶŽůŽŐLJĚĞĐŝƐŝŽŶŵĂŬŝŶŐ͕ďƵĚŐĞƚŝŶŐ͕ĂŶĚŝŵƉůĞŵĞŶƚĂƚŝŽŶĂĐƌŽƐƐĂůůŝƚLJĨƵŶĐƚŝŽŶƐĂŶĚŽƉĞƌĂƚŝŽŶƐ͘dŚĞƵƉĚĂƚĞƐĂƌĞƚŽƌĞĨůĞĐƚŶĞǁƚĞĐŚŶŽůŽŐLJŝŶŝƚŝĂƚŝǀĞƐĂŶĚƚĞĐŚŶŽůŽŐŝĐĂůĂĚǀĂŶĐĞŵĞŶƚƐ͕ǁŚŝůĞĂĚĂƉƚŝŶŐƚŽĐŚĂŶŐŝŶŐďƵƐŝŶĞƐƐŶĞĞĚƐĂŶĚĨŝŶĂŶĐŝĂůĐŽŶĚŝƚŝŽŶƐ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ dŚĞ/d^WŝƐƵƉĚĂƚĞĚĂƐ
ƉĂƌƚŽĨƚŚĞĂŶŶƵĂů>d&W͘dŚĞdZ<ŝd ƵƉŐƌĂĚĞ
ĐŽŶƚƌĂĐƚǁĂƐĂƉƉƌŽǀĞĚ͖ŝŵƉůĞŵĞŶƚĂƚŝŽŶǁĂƐĐŽŵƉůĞƚĞĚ ŝƐĞƐƚŝŵĂƚĞĚŝŶĞĐĞŵďĞƌϮϬϮϮ͘

KEKD/
s
>KWD
Ed;
Ϳ

Ͳϭ͘Ϭϭ͕
Ͳϭ͘ϬϮ͕
Ͳϭ͘Ϭϯ
ϯ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽĂƐƐŝŐŶŝƚLJƵƌďĂŶ
ƉůĂŶŶĞƌƐǁŝƚŚƐƉĞĐŝĂůŝnjĞĚŬŶŽǁůĞĚŐĞĂŶĚĞdžƉĞƌŝĞŶĐĞŝŶƐƉĞĐŝĨŝĐďƵƐŝŶĞƐƐĚŝƐƚƌŝĐƚƐƚŽƐĞƌǀĞĂƐůŝĂŝƐŽŶƐŝŶƚŚĞŝƚLJ͛ƐĂǁĂƌĚͲǁŝŶŶŝŶŐƵƐŝŶĞƐƐ>ŝĂŝƐŽŶWƌŽŐƌĂŵ͘dŚĞůŝĂŝƐŽŶƐƉƌŽǀŝĚĞƐĞƌǀŝĐĞƐƚŽďƵƐŝŶĞƐƐŽǁŶĞƌƐ͘^ĞƌǀŝĐĞƐŝŶĐůƵĚĞŽŶͲƐŝƚĞŵĞĞƚŝŶŐƐƚŽůĞĂƌŶďƵƐŝŶĞƐƐŽǁŶĞƌŶĞĞĚƐĂŶĚĞdžƉůĂŝŶŚŽǁƚŽĂĐĐĞƐƐŝƚLJƌĞƐŽƵƌĐĞƐ͕ǁŚĞƌĞƉŽƐƐŝďůĞ͕ƚŽŚĞůƉďƵƐŝŶĞƐƐĞƐĂĐĐŽŵƉůŝƐŚƚŚĞŝƌŐŽĂůƐĂŶĚŽďũĞĐƚŝǀĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ >ŝĂŝƐŽŶƉƌŽŐƌĂŵŝƐďĞŝŶŐ
ƌĞĂƐƐĞƐƐĞĚǁŝƚŚƚŚĞƌŽůĞŽĨƚŚĞ
ĐŽŶŽŵŝĐĞǀĞůŽƉŵĞŶƚKĨĨŝĐĞƌ͘

ATTACHMENT 3
102

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^

KEKD/
s
>KWD
Ed;
Ϳ

Ͳϭ͘Ϭϭ͕
Ͳϭ͘ϬϮ͕
Ͳϭ͘Ϭϯ
ϲ KEͲ'K/E' ^ƵƉƉŽƌƚƵƐŝŶĞƐƐ/ŵƉƌŽǀĞŵĞŶƚ
ŝƐƚƌŝĐƚƐŽƌƐŝŵŝůĂƌŵĞĂƐƵƌĞƐĨŽƌĞůDĂƌͬdͲnjŽŶĞ͕>ŽƐDŽůŝŶŽƐ͕ ůĂŵŝŶŽZĞĂů͕WŝĞƌŽǁů͕EŽƌƚŚĞĂĐŚĂŶĚŽƚŚĞƌĐŽŵŵĞƌĐŝĂůĚŝƐƚƌŝĐƚƐ͘dŚĞĚŝƐƚƌŝĐƚƐƐŚŽƵůĚŐĞŶĞƌĂƚĞƌĞǀĞŶƵĞƚŽŵĂŝŶƚĂŝŶĞĂĐŚĂƌĞĂ͕ƚŽƐƵƉƉŽƌƚƐƉĞĐŝĂůĞǀĞŶƚƐ͕ĂŶĚƚŽƉƵďůŝĐŝnjĞĞĂĐŚĂƌĞĂ͘dŚĞĚŝƐƚƌŝĐƚƐŵĂLJĂůƐŽďĞĞŵƉŽǁĞƌĞĚ;ŽƌĂƐĞƉĂƌĂƚĞĨŝŶĂŶĐŝŶŐǀĞŚŝĐůĞĞƐƚĂďůŝƐŚĞĚͿƚŽƉƌŽǀŝĚĞƉŚLJƐŝĐĂůŝŵƉƌŽǀĞŵĞŶƚƐ͕ƐƵĐŚĂƐƉĂƌŬŝŶŐĨĂĐŝůŝƚŝĞƐ͕ůĂŶĚƐĐĂƉŝŶŐ͕ůŝŐŚƚŝŶŐ͕ĂŶĚƉĞĚĞƐƚƌŝĂŶĂŶĚďŝĐLJĐůĞĨĂĐŝůŝƚŝĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐƚŚƌŽƵŐŚůŝĂŝƐŽŶ
ƉƌŽŐƌĂŵ

KEKD/
s
>KWD
Ed;
Ϳ

ͲϮ͘Ϭϰ ϭϬ KEͲ'K/E'
džƉůŽƌĞŽƉƉŽƌƚƵŶŝƚŝĞƐƚŽƉĂƌƚŶĞƌ
ǁŝƚŚĂďƵƐŝŶĞƐƐ͞ŝŶĐƵďĂƚŽƌ͟ŝŶ^ĂŶůĞŵĞŶƚĞ͘
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ

ATTACHMENT 3
103

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^

KEKD/
s
>KWD
Ed;
Ϳ
ϭϯ KEͲ'K/E' ƐƐĞƐƐƉĂƌŬŝŶŐŶĞĞĚƐŝŶĞů
DĂƌͬdͲŽŶĞ͕WŝĞƌŽǁů͕ĂŶĚEŽƌƚŚĞĂĐŚĞǀĞƌLJĨŝǀĞLJĞĂƌƐ͕ŽƌĂƐŶĞĞĚĞĚ͕ĂŶĚŝŵƉůĞŵĞŶƚƐŽůƵƚŝŽŶƐƚŽŝĚĞŶƚŝĨŝĞĚƉĂƌŬŝŶŐĚĞĨŝĐŝĞŶĐŝĞƐƚŽĂĐŚŝĞǀĞƚŚĞŝƚLJ͛ƐsŝƐŝŽŶĂŶĚ^ƚƌĂƚĞŐŝĐWůĂŶ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ ŝƚLJƐƚĂĨĨŝƐĞdžƉůŽƌŝŶŐŐƌĂŶƚ
ŽƉƉŽƌƚƵŶŝƚŝĞƐƚŽĐŽŶĚƵĐƚĂĐŽŵƉƌĞŚĞŶƐŝǀĞƉĂƌŬŝŶŐŵĂŶĂŐĞŵĞŶƚƉůĂŶ͘/ŶϮϬϭϴ͕ŝƚLJĐŽŵƉůĞƚĞĚĂŶƵƉĚĂƚĞƚŽtĂůŬĞƌƉĂƌŬŝŶŐƐƚƵĚLJƐƵƉƉůLJĂŶĂůLJƐŝƐŽĨĞůDĂƌͬdͲŽŶĞ;ŽǁŶƚŽǁŶWĂƌŬŝŶŐ^ƚƵĚLJͿĂŶĚĐŽŵƉůĞƚĞĚĂƐŝŵŝůĂƌƐƚƵĚLJŽĨEŽƌƚŚĞĂĐŚ͘dŚĞƐƚĂĨĨWĂƌŬŝŶŐĐƚŝŽŶdĞĂŵ;WdͿĐŽŶƚŝŶƵĞƐƚŽŵŽŶŝƚŽƌĂŶĚŝŵƉůĞŵĞŶƚƚŚĞƉĂƌŬŝŶŐƐƚƵĚLJƌĞĐŽŵŵĞŶĚĂƚŝŽŶƐĂŶĚĚŝƌĞĐƚŝŽŶƌĞĐĞŝǀĞĚĨƌŽŵŽƵŶĐŝů͘

ATTACHMENT 3
104

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
'Ks
ZEE
;'Ϳ
'ͲϮ͘Ϭϰ KEͲ'K/E' WƵƌƐƵĞŐƌĂŶƚŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌ

ĐŽŶŽŵŝĐĞǀĞůŽƉŵĞŶƚŽƌĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚƉƌŽũĞĐƚƐƚŚĂƚǁŽƵůĚďĞŶĞĨŝƚƚŚĞƉƵďůŝĐ͘ ŝƚLJDĂŶĂŐĞƌͬWƵďůŝĐtŽƌŬƐ
KŶͲŐŽŝŶŐ /ŶϮϬϮϮϭ͕ŝƚLJƐƚĂĨĨ
ƉƵƌƐƵĞĚŐƌĂŶƚƐĨŽƌƐŝĚĞǁĂůŬŝŵƉƌŽǀĞŵĞŶƚƐ͕
ŚŽƵƐŝŶŐͬŚŽŵĞůĞƐƐƐĞƌǀŝĐĞƐ͕ƉĂƌŬŝŶŐŵĂŶĂŐĞŵĞŶƚ͕ŚŝƐƚŽƌŝĐƉƌĞƐĞƌǀĂƚŝŽŶ͕ĂŶĚƐĂŶĚƌĞƉůĞŶŝƐŚŵĞŶƚ͘dŚĞŝƚLJĂƉƉůŝĞĚĨŽƌƚŚĞϮϬϮϯůĞĂŶDŽďŝůŝƚLJKƉƚŝŽŶƐŐƌĂŶƚĂŶĚĂŶƚŝĐŝƉĂƚĞƐĂƉƉůLJŝŶŐĨŽƌKd͛ƐŶĞdžƚĐĂůůĨŽƌĂƉƉůŝĐĂƚŝŽŶƐĨŽƌDĞĂƐƵƌĞsĨƵŶĚŝŶŐƚŽĨƵƌƚŚĞƌƐƵƉƉŽƌƚƚŚĞ^ZŝĚĞƐĂŶĚdƌŽůůĞLJƉƌŽŐƌĂŵƐ͘ hƉĚĂƚĞĚŶŽƚĞƐŽŶƐƚĂƚƵƐ͘^Ͳϳ͘ϬϱŝƐƉĂƌƚŶĞƌƐŚŝƉƐĨŽƌƐĂĨĞƚLJ͕ǁŚŝĐŚĚŽĞƐŶŽƚŵĂƚĐŚƚŚĞƉƵƌƐƵŝƚŽĨ ŽƌĂƉŝƚĂůŐƌĂŶƚƐ͘
'Ks
ZEE
;'Ϳ
'ͲϮ͘Ϭϰ KEͲ'K/E' WƵƌƐƵĞŐƌĂŶƚŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌ

ĐŽŶŽŵŝĐĞǀĞůŽƉŵĞŶƚŽƌĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚƉƌŽũĞĐƚƐƚŚĂƚǁŽƵůĚďĞŶĞĨŝƚƚŚĞƉƵďůŝĐ͘ ŝƚLJDĂŶĂŐĞƌͬWƵďůŝĐtŽƌŬƐ
KŶͲŐŽŝŶŐ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐͲ/Ŷ
ϮϬϮϭ͕ŝƚLJƐƚĂĨĨƉƵƌƐƵĞĚŐƌĂŶƚƐĨŽƌŚŽƵƐŝŶŐͬŚŽŵĞůĞƐƐƐĞƌǀŝĐĞƐ͕ƉĂƌŬŝŶŐŵĂŶĂŐĞŵĞŶƚ͕ŚŝƐƚŽƌŝĐƉƌĞƐĞƌǀĂƚŝŽŶ͕ĂŶĚƐĂŶĚƌĞƉůĞŶŝƐŚŵĞŶƚ͘hƉĚĂƚĞĚŶŽƚĞƐŽŶƐƚĂƚƵƐ͘^Ͳϳ͘ϬϱŝƐƉĂƌƚŶĞƌƐŚŝƉƐĨŽƌƐĂĨĞƚLJ͕ǁŚŝĐŚĚŽĞƐŶŽƚŵĂƚĐŚƚŚĞƉƵƌƐƵŝƚŽĨ ŽƌĂƉŝƚĂůŐƌĂŶƚƐ͘

ATTACHMENT 3
105

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
'Ks
ZEE
;'Ϳ
'Ͳϭ͘Ϭϭ͕'Ͳϭ͘ϬϮ
ϭ KEͲ'K/E' ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ĞƉĂƌƚŵĞŶƚƐƚĂĨĨǁŝůůĂŶŶƵĂůůLJĞǀĂůƵĂƚĞƉƌŽŐƌĞƐƐŝŶĂĐŚŝĞǀŝŶŐƚŚĞ^ƚƌĂƚĞŐŝĐ/ŵƉůĞŵĞŶƚĂƚŝŽŶWƌŽŐƌĂŵĂŶĚŽƚŚĞƌ'ĞŶĞƌĂůWůĂŶŵŝůĞƐƚŽŶĞƐ͘^ƚĂĨĨǁŝůůƌĞƉŽƌƚŝƚƐĨŝŶĚŝŶŐƐƚŽƚŚĞWůĂŶŶŝŶŐŽŵŵŝƐƐŝŽŶ͕ŝƚLJŽƵŶĐŝů͕ĂŶĚ^ƚĂƚĞĂŐĞŶĐŝĞƐĂƐŶĞĐĞƐƐĂƌLJ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘WƌŽŐƌĞƐƐ
ĞǀĂůƵĂƚĞĚĂŶŶƵĂůůLJŝŶƚŚĞƉƌŽĐĞƐƐŽĨƵƉĚĂƚŝŶŐƚŚĞĂŶŶƵĂůďƵĚŐĞƚĂŶĚĐŽŵƉůĞƚŝŶŐƚŚĞ^ƚĂƚĞŵĂŶĚĂƚĞĚ'ĞŶĞƌĂůWůĂŶĂŶĚ,ŽƵƐŝŶŐŶŶƵĂůWƌŽŐƌĞƐƐZĞƉŽƌƚ;WZͿ͘ 'Ks
ZEE
;'Ϳ
'Ͳϭ͘Ϭϰ͕'ϭ͘Ϭϴ
Ϯ KEͲ'K/E' ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ĞƉĂƌƚŵĞŶƚƐƚĂĨĨǁŝůůĚĞǀĞůŽƉĂŶŶƵĂůĞŶƚĞŶŶŝĂů'ĞŶĞƌĂůWůĂŶĂŶĚ,ŽƵƐŝŶŐƐƚĂƚƵƐƌĞƉŽƌƚƐ͘ZĞƉŽƌƚƐǁŝůůŝŶĐůƵĚĞĂƐLJƐƚĞŵŽĨŝŶĚŝĐĂƚŽƌƐŽƌŽƚŚĞƌĨĞĞĚďĂĐŬŵĞĐŚĂŶŝƐŵƐƚŽƚƌĂĐŬƚŚĞ'ĞŶĞƌĂůWůĂŶ͛ƐƉƌŽŐƌĞƐƐƚŽǁĂƌĚĂĐŚŝĞǀŝŶŐŝƚƐŐŽĂůƐĂŶĚĐŽŵŵƵŶŝƚLJǀŝƐŝŽŶ͘dŚĞƌĞƉŽƌƚƐǁŝůůďĞƵƐĞĚƚŽŝŶĨŽƌŵƚŚĞWůĂŶŶŝŶŐŽŵŵŝƐƐŝŽŶ͕ŝƚLJŽƵŶĐŝů͕ĂŶĚƚŚĞ>ŽŶŐdĞƌŵ&ŝŶĂŶĐŝĂůWůĂŶĂŶĚĂŶŶƵĂůďƵĚŐĞƚƉƌŽĐĞƐƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘WƌŽŐƌĞƐƐ
ĞǀĂůƵĂƚĞĚĂŶŶƵĂůůLJĂƐƉĂƌƚŽĨƚŚĞ^ƚĂƚĞŵĂŶĚĂƚĞĚ'ĞŶĞƌĂůWůĂŶĂŶĚ,ŽƵƐŝŶŐŶŶƵĂůWƌŽŐƌĞƐƐZĞƉŽƌƚƉƌŽĐĞƐƐ͘ 'Ks
ZEE
;'Ϳ
'Ͳϭ͘ϬϮ ϯ KEͲ'K/E' ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ĞƉĂƌƚŵĞŶƚƐƚĂĨĨǁŝůůĂŶŶƵĂůůLJƌĞǀŝĞǁƚŚĞ'ĞŶĞƌĂůWůĂŶƚŽĞŶƐƵƌĞŝŶƚĞƌŶĂůĐŽŶƐŝƐƚĞŶĐLJĂŶĚĐŽŶƐŝƐƚĞŶĐLJǁŝƚŚŽƚŚĞƌ&ĞĚĞƌĂů͕^ƚĂƚĞĂŶĚůŽĐĂůƌĞŐƵůĂƚŝŽŶƐĂŶĚƉŽůŝĐŝĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘

ATTACHMENT 3
106

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
'Ks
ZEE
;'Ϳ
'Ͳϭ͘Ϭϲ ϰ KEͲ'K/E' ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ĞƉĂƌƚŵĞŶƚƐƚĂĨĨǁŝůůƌĞǀŝĞǁĞĂĐŚŶĞǁĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚWůĂŶĂŶĚ>ŽŶŐdĞƌŵ&ŝŶĂŶĐŝĂůWůĂŶĨŽƌĐŽŶƐŝƐƚĞŶĐLJǁŝƚŚƚŚĞ'ĞŶĞƌĂůWůĂŶĂŶĚƌĞƉŽƌƚŝƚƐĨŝŶĚŝŶŐƐƚŽƚŚĞWůĂŶŶŝŶŐŽŵŵŝƐƐŝŽŶĂŶĚŝƚLJŽƵŶĐŝů͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘ŶĂŶĂůLJƐŝƐŝƐ
ĐŽŵƉůĞƚĞĚĂƐƉĂƌƚŽĨƚŚĞƉƌŽĐĞƐƐŽĨƵƉĚĂƚŝŶŐƚŚĞďƵĚŐĞƚĂŶĚĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚWƌŽŐƌĂŵ;/WͿ͘ 'Ks
ZEE
;'Ϳ
'Ͳϭ͘Ϭϵ͕ϭ͘ϭϭ
ϱ KEͲ'K/E' dŚĞŝƚLJǁŝůůĐŽůůĞĐƚĂŶŝŵƉĂĐƚĨĞĞĂƐ
ƉĂƌƚŽĨĚĞǀĞůŽƉŵĞŶƚĂƉƉůŝĐĂƚŝŽŶƐŽƌƉĞƌŵŝƚƐƚŽŽĨĨƐĞƚĐŽƐƚƐŽĨŵĂŝŶƚĂŝŶŝŶŐƚŚĞĞŶƚĞŶŶŝĂů'ĞŶĞƌĂůWůĂŶ͕ŝŶĐůƵĚŝŶŐƵƉĚĂƚŝŶŐǁĞďďĂƐĞĚƚĞdžƚĂŶĚŐƌĂƉŚŝĐƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘/ŵƉĂĐƚĨĞĞŝƐ
ĞƐƚĂďůŝƐŚĞĚ

ATTACHMENT 3
107

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
'Ks
ZEE
;'Ϳ
'Ͳϯ͘Ϭϴ͕'Ͳϯ͘Ϭϵ
ϳ KEͲ'K/E' tŝƚŚĐůĞĂƌĐŽŵŵƵŶŝĐĂƚŝŽŶĂŶĚ
ĞĨĨĞĐƚŝǀĞĐŽŽƌĚŝŶĂƚŝŽŶĂŵŽŶŐƉƌŝǀĂƚĞĂŶĚŶŽŶͲƉƌŽĨŝƚŽƌŐĂŶŝnjĂƚŝŽŶƐ͕ŝŵƉƌŽǀĞĂǁĂƌĞŶĞƐƐĂŶĚƉƌŽŵŽƚĞƚŚĞĨŽůůŽǁŝŶŐ͗ĂͿdŚĞŝƚLJ͛ƐƌŝĐŚůŽĐĂůĂƌƚƐ͕ŚŝƐƚŽƌLJĂŶĚĐƵůƚƵƌĞ͕ďͿĂƌŬƐŬŝĞƐ͕ĐͿKƌŐĂŶŝĐŐĂƌĚĞŶŝŶŐĂŶĚŽƚŚĞƌŚĞĂůƚŚĂŶĚǁĞůůŶĞƐƐŝƐƐƵĞƐ͕ĚͿŝƚLJŚŝƐƚŽƌŝĐƌĞƐŽƵƌĐĞĂƉƉƌĞĐŝĂƚŝŽŶĂŶĚƉƌĞƐĞƌǀĂƚŝŽŶ͖ĞͿ^ŽĐŝĂůĂŶĚŚŽƵƐŝŶŐƐĞƌǀŝĐĞƐ͕ĨͿZĞƐŝĚĞŶƚŝĂůůĂŶĚƐĐĂƉĞƉůĂŶƚŝŶŐƐŝŶĐŽĂƐƚĂůĐĂŶLJŽŶĂŶĚďůƵĨĨĂƌĞĂƐ͘dŚĞŝŶĨŽƌŵĂƚŝŽŶƐŚŽƵůĚĂĚĚƌĞƐƐƌĞĐŽŵŵĞŶĚĞĚƉůĂŶƚƚLJƉĞƐĂŶĚƚŚĞŝƌĐĂƌĞ͕ŝŶǀĂƐŝǀĞƉůĂŶƚƐƌĞŵŽǀĂů͕ĂŶĚůĂŶĚƐĐĂƉŝŶŐĨŽƌĨŝƌĞƐĂĨĞƚLJ͕ŐͿDĂƉƐŽĨŚĂnjĂƌĚĂƌĞĂƐ͕ůĂŶĚƵƐĞƉůĂŶƐ͕ĞƚĐ͕͘ŚͿ ŶĞƌŐLJĐŽŶƐĞƌǀĂƚŝŽŶ͕ŝͿ>ŝĂŝƐŽŶĂŶĚĐƵƐƚŽŵĞƌƐĞƌǀŝĐĞƉƌŽŐƌĂŵƐ͕ũͿWƌĞƐĞƌǀĂƚŝŽŶĂŶĚĐƌĞĂƚŝŽŶŽĨĐŽĂƐƚĂůƚĞƌƌĞƐƚƌŝĂůǁŝůĚůŝĨĞŽƌƉůĂŶƚƐĂŶĐƚƵĂƌŝĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘dŚĞŝƚLJ
ƉƌŽǀŝĚĞƐŝŶĨŽƌŵĂƚŝŽŶƚŽƚŚĞƉƵďůŝĐŽŶǀĂƌŝŽƵƐƚŽƉŝĐƐƚŚƌŽƵŐŚŝƚƐǁĞďƐŝƚĞ͕ŵĂƉƉŝŶŐƚŽŽůƐ͕ĂŶĚƉƵďůŝĐĂŶŶŽƵŶĐĞŵĞŶƚƐĂƚŝƚLJƉƵďůŝĐŵĞĞƚŝŶŐƐ͕ƐƵĐŚĂƐƉƌĞƐƐƌĞůĞĂƐĞƐĂŶĚƐŽĐŝĂůŵĞĚŝĂƉŽƐƚƐ͘ 'ZKtd,DE'
D
Ed;'DͿ
'DͲϭ͘ϬϮ ϯ KEͲ'K/E' DĂŝŶƚĂŝŶŝƚLJƉĂƌƚŝĐŝƉĂƚŝŽŶŝŶƚŚĞ
ZŝĐŚĂƌĚĂŶĚŽŶŶĂKΖEĞŝůůŽŶƐĞƌǀĂŶĐLJ͕ůŽĐĂƚĞĚŽŶƚŚĞZĞƐĞƌǀĞĂƚZĂŶĐŚŽDŝƐƐŝŽŶsŝĞũŽ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ 
'ZKtd,DE'
D
Ed;'DͿ
'DͲϮ͘Ϭϭ ϱ KEͲ'K/E' ŝƚLJƐŚĂůůƉĞƌŝŽĚŝĐĂůůLJƵƉĚĂƚĞŝƚƐ
ƐƚĂŶĚĂƌĚƐĨŽƌƚŚĞƉƌŽǀŝƐŝŽŶŽĨƉƵďůŝĐƐĞƌǀŝĐĞƐƚŽƌĞĨůĞĐƚĐƵƌƌĞŶƚŶĞĞĚƐĂŶĚĐŽƐƚƐ͕ŝŶĐůƵĚŝŶŐ͗ĨŝƌĞͬĞŵĞƌŐĞŶĐLJŵĞĚŝĐĂů͕ůŝďƌĂƌLJ͕ĂŶĚƉŽůŝĐĞ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͕ƚŚĞƌĞǀŝĞǁŽĨ
ƚŚĞƐĞƐƚĂŶĚĂƌĚƐǁŝůůďĞĐŽŶƐŝĚĞƌĞĚĚƵƌŝŶŐƚŚĞŝƚLJ͛Ɛ>ŽŶŐdĞƌŵ&ŝŶĂŶĐŝĂůWůĂŶĂŶĚƚŚĞĂŶŶƵĂůďƵĚŐĞƚƉƌŽĐĞƐƐ͘

ATTACHMENT 3
108

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
'ZKtd,DE'
D
Ed;'DͿ
ϲ KEͲ'K/E' /ĨĂŶŶĞdžĂƚŝŽŶƚŽƚŚĞŝƚLJŝƐ
ĐŽŶƐŝĚĞƌĞĚ͕ƚŚĞƉŽƚĞŶƚŝĂůĂŶŶĞdžĂƚŝŽŶƐŚĂůůƌĞƋƵŝƌĞƉƌĞƉĂƌĂƚŝŽŶŽĨĂŶĞĐŽŶŽŵŝĐŝŵƉĂĐƚĂŶĂůLJƐŝƐ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ /ŶƚŚĞĞǀĞŶƚŽĨĂŶ
ĂŶŶĞdžĂƚŝŽŶŽĨWůĂŶŶŝŶŐƌĞĂϱŽĨZĂŶĐŚŽDŝƐƐŝŽŶsŝĞũŽ͕ƚŚŝƐƌĞƋƵŝƌĞŵĞŶƚǁŝůůďĞŵĞƚ͘ 'ZKtd,DE'
D
Ed;'DͿ
'DͲϭ͘Ϭϯ ϳ KEͲ'K/E' dŚĞŝƚLJǁŝůůƐƚƵĚLJĂŶĚĂĚŽƉƚ
ƵƉĚĂƚĞĚĨĞĞƐĂŶĚŽƚŚĞƌĂƉƉƌŽƉƌŝĂƚĞĨŝŶĂŶĐŝŶŐŵĞĂƐƵƌĞƐƚŽŝŶĐƌĞĂƐĞƌĞǀĞŶƵĞĂŶĚĞŶƐƵƌĞŶĞǁŝŶͲŝƚLJĚĞǀĞůŽƉŵĞŶƚƉĂLJƐŝƚƐƐŚĂƌĞŽĨƚŚĞĐŽƐƚƐŽĨŶĞǁƐĞƌǀŝĐĞƐĂŶĚĨĂĐŝůŝƚŝĞƐŶĞĞĚĞĚƚŽƐĞƌǀĞŝƚ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ ^ƚĂĨĨƉĞƌŝŽĚŝĐĂůůLJƵƉĚĂƚĞƐ
ĨĞĞƐ͕ĂůŽŶŐǁŝƚŚĨŝŶĂŶĐŝŶŐŵĞĐŚĂŶŝƐŵƐƚŽĞŶƐƵƌĞŶĞǁĚĞǀĞůŽƉŵĞŶƚĐŽǀĞƌƐĐŽƐƚƐŽĨĨƵƚƵƌĞŝƚLJƐĞƌǀŝĐĞƐ͘ 'ZKtd,DE'
D
Ed;'DͿ
'DͲϭ͘Ϭϲ͕'DͲϮ͘Ϭϲ
ϰ ,/',
WZ/KZ/dzKEͲ'K/E'
tŽƌŬŝŶŐǁŝƚŚ>&K͕ƵƉĚĂƚĞƚŚĞŝƚLJ͛Ɛ^ƉŚĞƌĞŽĨ/ŶĨůƵĞŶĐĞĂŶĚDƵŶŝĐŝƉĂů^ĞƌǀŝĐĞƐZĞǀŝĞǁƚŽĂĚĚƌĞƐƐƉŽƚĞŶƚŝĂůĚĞǀĞůŽƉŵĞŶƚŝŶƵŶŝŶĐŽƌƉŽƌĂƚĞĚĂƌĞĂƐĂĚũĂĐĞŶƚƚŽƚŚĞŝƚLJ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ^ƚĂƌƚĞĚ ^ƚĂĨĨŝƐ
ĐŽŽƌĚŝŶĂƚŝŶŐĐŽŽƌĚŝŶĂƚĞƐǁŝƚŚ>&KƐƚĂĨĨĂŶĚƉƌŽǀŝĚĞƐŝŶŐƌĞƋƵĞƐƚĞĚ ŝŶĨŽƌŵĂƚŝŽŶ͕ŝŶĐůƵĚŝŶŐƐƵƌǀĞLJƐ͘
'ZKtd,DE'
D
Ed;'DͿ
'DͲϭ͘Ϭϳ Ϯ KEͲ'K/E' DĂŝŶƚĂŝŶĂĨŽƌŵĂůĐŽŵŵƵŶŝĐĂƚŝŽŶ
ƉƌŽĐĞƐƐǁŝƚŚĂŵƉWĞŶĚůĞƚŽŶƚŽƐƚĂLJŝŶĨŽƌŵĞĚŽĨůĂŶĚƵƐĞ͕ŶŽŝƐĞ͕ĂŶĚŽƚŚĞƌŝƐƐƵĞƐƌĞůĂƚŝŶŐƚŽŵŝůŝƚĂƌLJƐŝƚĞƐĂĚũĂĐĞŶƚƚŽƚŚĞŝƚLJ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ ^ƚĂĨĨŚĂƐĞƐƚĂďůŝƐŚĞĚůŝŶĞƐ
ŽĨĐŽŵŵƵŶŝĐĂƚŝŽŶƌĞůĂƚĞĚƚŽŝƐƐƵĞƐĂĨĨĞĐƚĞĚďLJďĂƐĞŽƉĞƌĂƚŝŽŶƐ͘

ATTACHMENT 3
109

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
'ZKtd,DE'
D
Ed;'DͿ
'DͲϮ͘Ϭϯ͕'DͲϮ͘Ϭϱ
ϭ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽƌĞŐƵůĂƌůLJƵƉĚĂƚĞ
ĚĞǀĞůŽƉŵĞŶƚŝŵƉĂĐƚĨĞĞƐĂŶĚͬŽƌŽƚŚĞƌĨŝŶĂŶĐŝŶŐŵĞĐŚĂŶŝƐŵƐƐŽƚŚĂƚĚĞǀĞůŽƉŵĞŶƚŽƵƚƐŝĚĞŝƚLJ>ŝŵŝƚƐƚŚĂƚƌĞƋƵĞƐƚƵƐĞŽĨŝƚLJƐĞƌǀŝĐĞƐŽƌĨĂĐŝůŝƚŝĞƐƉĂLJƐƚŚĞĨƵůůĐŽƐƚƐŶĞĞĚĞĚƚŽƐĞƌǀĞŝƚĂŶĚĚŽĞƐŶŽƚĚĞĐƌĞĂƐĞůĞǀĞůƐŽĨƐĞƌǀŝĐĞƚŽ^ĂŶůĞŵĞŶƚĞƌĞƐŝĚĞŶƚƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐĂƐŽƉƉŽƌƚƵŶŝƚŝĞƐ
ĂƌŝƐĞ͘
'ZKtd,DE'
D
Ed;'DͿ
'DͲϮ͘Ϭϭ ϱĂ KEͲ'K/E' ŝƚLJƐŚĂůůƉĞƌŝŽĚŝĐĂůůLJƵƉĚĂƚĞŝƚƐ ƐƚĂŶĚĂƌĚƐĨŽƌƚŚĞƉƌŽǀŝƐŝŽŶŽĨƉƵďůŝĐƐĞƌǀŝĐĞƐĂŶĚĨĂĐŝůŝƚŝĞƐƚŽƌĞĨůĞĐƚĐƵƌƌĞŶƚŶĞĞĚƐĂŶĚĐŽƐƚƐ͕ŝŶĐůƵĚŝŶŐ͗ĚƌĂŝŶĂŐĞͬĨůŽŽĚĐŽŶƚƌŽů͕ƉĂƌŬƐ͕ǁĂƚĞƌĂŶĚǁĂƐƚĞǁĂƚĞƌ͕ĂŶĚƚƌĂĨĨŝĐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ^ƚĂŶĚĂƌĚƐƉĞƌŝŽĚŝĐĂůůLJ
ƌĞǀŝĞǁĞĚĂŶĚƵƉĚĂƚĞĚ͘
,/^dKZ/WZ
^
Zsd/KE;,WͿ
,WͲϭ͘Ϭϭ ϯ KEͲ'K/E' WƵƌƐƵĞĨŝŶĂŶĐŝĂůƌĞƐŽƵƌĐĞƐĨƌŽŵ
ƐƚĂƚĞ͕ĨĞĚĞƌĂůĂŶĚƉƌŝǀĂƚĞƐŽƵƌĐĞƐ͕ĂŶĚŽƚŚĞƌĨƵŶĚŝŶŐŽƉƚŝŽŶƐ͕ŝŶĐůƵĚŝŶŐƚŚĞƉŽƐƐŝďŝůŝƚLJŽĨƉƵďůŝĐͲƉƌŝǀĂƚĞƉĂƌƚŶĞƌƐŚŝƉƐ͕ƚŽƐƵƉƉŽƌƚŽĨŚŝƐƚŽƌŝĐƉƌĞƐĞƌǀĂƚŝŽŶŽďũĞĐƚŝǀĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘DŽŶŝƚŽƌĂŶĚ
ƐĞĞŬĨƵŶĚŝŶŐĂƐŽƉƉŽƌƚƵŶŝƚŝĞƐďĞĐŽŵĞĂǀĂŝůĂďůĞ͕ŶĞĞĚƐŽĐĐƵƌ͕ĂŶĚĂƐĚŝƌĞĐƚĞĚďLJŽƵŶĐŝů͘ƉƉůŝĞĚĂŶĚŽďƚĂŝŶĞĚŐƌĂŶƚĨƵŶĚŝŶŐŝŶϮϬϭϵĨŽƌĂEŽƌƚŚĞĂĐŚ,ŝƐƚŽƌŝĐŝƐƚƌŝĐƚ͘ĞƐŝŐŶĂƚŝŽŶŽĨƚŚĞŚŝƐƚŽƌŝĐĚŝƐƚƌŝĐƚŽŶƚŚĞEĂƚŝŽŶĂůZĞŐŝƐƚĞƌŽĨ,ŝƐƚŽƌŝĐWůĂĐĞƐŽĐĐƵƌƌĞĚŝŶ:ĂŶƵĂƌLJϮϬϮϭ͘

ATTACHMENT 3
110

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
,/^dKZ/WZ
^
Zsd/KE;,WͿ
ϳ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽƐƵƉƉŽƌƚĂŶĚĞdžƉůŽƌĞ
ƉƌĞƐĞƌǀĂƚŝŽŶŝŶĐĞŶƚŝǀĞƐĂŶĚƉŽƚĞŶƚŝĂůĨŝŶĂŶĐŝĂůĂƐƐŝƐƚĂŶĐĞ͕ƐƵĐŚĂƐƌĞŚĂďŝůŝƚĂƚŝŽŶƚĂdžĐƌĞĚŝƚƐ͕ĨĂĐĂĚĞĞĂƐĞŵĞŶƚƐ͕ƉƌĞƐĞƌǀĂƚŝŽŶŐƌĂŶƚƐ͕ƚƌĂŶƐĨĞƌŽĨĚĞǀĞůŽƉŵĞŶƚƌŝŐŚƚƐ͕njŽŶŝŶŐŝŶĐĞŶƚŝǀĞƐ͕ĂŶĚƐƚĂƚĞ͕ĨĞĚĞƌĂů͕ŶŽŶͲƉƌŽĨŝƚĂƐƐŝƐƚĂŶĐĞĂŶĚƉƌŝǀĂƚĞĚŽŶĂƚŝŽŶƐ͕ƉĞƌŵŝƚĨĞĞǁĂŝǀĞƌƐ͕ĂŶĚƌĞŚĂďŝůŝƚĂƚŝŽŶůŽĂŶƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘ŽŶƚŝŶƵĞƚŽ
ŵŽŶŝƚŽƌĂŶĚƐƵƉƉŽƌƚŽƉƉŽƌƚƵŶŝƚŝĞƐƚŽŝŶĐĞŶƚŝǀŝnjĞŚŝƐƚŽƌŝĐƉƌĞƐĞƌǀĂƚŝŽŶƉƌŽŐƌĂŵƐĂŶĚŝŵƉƌŽǀĞŵĞŶƚƐ;Ğ͘Ő͘,WWͿ͕ĂƐĚŝƌĞĐƚĞĚďLJŽƵŶĐŝů͘/ŶϮϬϮϬ͕Ă,WWŝŶƐƉĞĐƚŝŽŶĨĞĞǁĂƐĂƉƉƌŽǀĞĚĨŽƌĂƐƉĞĐŝĂůŝƐƚƚŽĂƐƐĞƐƐƚŚĞƐƚĂƚƵƐŽĨĐŽŶƚƌĂĐƚŝŵƉƌŽǀĞŵĞŶƚƐĂŶĚŶĞǁŽƉƉŽƌƚƵŶŝƚŝĞƐƚŽĂƉƉůLJƉƌŽŐƌĂŵƚĂdžŝŶĐĞŶƚŝǀĞƐƚŽǁĂƌĚŝŵƉƌŽǀŝŶŐƌĞƐŽƵƌĐĞŝŶƚĞŐƌŝƚLJ͘

ATTACHMENT 3
111

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
,/^dKZ/WZ
^
Zsd/KE;,WͿ
,WͲϭ͘Ϭϰ͕,WͲϭ͘Ϭϱ
ϴ KEͲ'K/E' WƌŽǀŝĚĞƚŚĞƉƵďůŝĐǁŝƚŚƚĞĐŚŶŝĐĂů
ĂƐƐŝƐƚĂŶĐĞĂŶĚŝŶĨŽƌŵĂƚŝŽŶŽŶƉƌĞƐĞƌǀĂƚŝŽŶŵĞƚŚŽĚƐĂŶĚƉƌŽŵŽƚĞƚŚĞƵƐĞŽĨĂůŝĨŽƌŶŝĂ͛Ɛ,ŝƐƚŽƌŝĐƵŝůĚŝŶŐŽĚĞĨŽƌƉƌĞƐĞƌǀĂƚŝŽŶŽĨŚŝƐƚŽƌŝĐƌĞƐŽƵƌĐĞƐ͘dŚŝƐŝŶĨŽƌŵĂƚŝŽŶŵĂLJĐŽŶƐŝƐƚŽĨŚŝƐƚŽƌŝĐƉƌĞƐĞƌǀĂƚŝŽŶŵĂƚĞƌŝĂůƐĂŶĚŵĞĚŝĂĨŽƌŚŽŵĞŽǁŶĞƌƐ͕ƌĞĂůƚŽƌƐ͕ĐŽŶƚĂĐƚŽƌƐĂŶĚĚĞǀĞůŽƉĞƌƐƚŽĞĚƵĐĂƚĞƚŚĞƉƵďůŝĐŽŶƌĞƋƵŝƌĞŵĞŶƚƐ͕ŐƵŝĚĞůŝŶĞƐĂŶĚƉƌŽĐĞƐƐĞƐ͘KƵƚƌĞĂĐŚƐŚŽƵůĚďĞƉƌŽǀŝĚĞĚƚŚƌŽƵŐŚǁŽƌŬƐŚŽƉƐĨŽƌŚŽŵĞŽǁŶĞƌƐ͕ĚĞǀĞůŽƉĞƌƐ͕ƌĞĂůĞƐƚĂƚĞƉƌŽĨĞƐƐŝŽŶĂůƐĂŶĚŽƚŚĞƌƐĚĞƐĐƌŝďŝŶŐƚŚĞďĞŶĞĨŝƚƐĂŶĚŽďůŝŐĂƚŝŽŶƐŽĨŽǁŶŝŶŐŚŝƐƚŽƌŝĐƉƌŽƉĞƌƚLJĂŶĚƚŚĞŝŶĐĞŶƚŝǀĞƐĂǀĂŝůĂďůĞĨŽƌƌĞŚĂďŝůŝƚĂƚŝŽŶ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘,WWƉƌŽŐƌĂŵ
ĂŶĚĚĞǀĞůŽƉŵĞŶƚƌĞǀŝĞǁƉƌŽĐĞƐƐ͘
,/^dKZ/WZ
^
Zsd/KE;,WͿ
,WͲϭ͘Ϭϭ ϭϱ KEͲ'K/E' ĞǀĞůŽƉĂŶĚƉƌŽǀŝĚĞƚƌĂŝŶŝŶŐĨŽƌ
ƵůƚƵƌĂů,ĞƌŝƚĂŐĞŽĂƌĚĂŶĚŝƚLJƐƚĂĨĨŽŶƚŚĞ^ĞĐƌĞƚĂƌLJŽĨƚŚĞ/ŶƚĞƌŝŽƌ͛Ɛ^ƚĂŶĚĂƌĚƐĨŽƌƚŚĞdƌĞĂƚŵĞŶƚŽĨ,ŝƐƚŽƌŝĐWƌŽƉĞƌƚŝĞƐ͕ƚŚĞ^ĂŶůĞŵĞŶƚĞƉƌĞƐĞƌǀĂƚŝŽŶŽƌĚŝŶĂŶĐĞ͕ƚŚĞĂůŝĨŽƌŶŝĂ,ŝƐƚŽƌŝĐĂůƵŝůĚŝŶŐŽĚĞ͕ĂŶĚŽƚŚĞƌƉƌĞƐĞƌǀĂƚŝŽŶŝŶĨŽƌŵĂƚŝŽŶ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘dƌĂŝŶŝŶŐŝƐ
ƉƌŽǀŝĚĞĚĂŶŶƵĂůůLJ͘
,/^dKZ/WZ
^
Zsd/KE;,WͿ
,WͲϭ͘Ϭϯ ϭϲ KEͲ'K/E' DĂŝŶƚĂŝŶĞƌƚŝĨŝĞĚ>ŽĐĂů'ŽǀĞƌŶŵĞŶƚ ;>'ͿƐƚĂƚƵƐ͘
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘^ƚĂƚƵƐŝƐ
ŵĂŝŶƚĂŝŶĞĚĂŶŶƵĂůůLJ͘

ATTACHMENT 3
112

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
,/^dKZ/WZ
^
Zsd/KE;,WͿ
,WͲϭ͘Ϭϰ ϭϴ KEͲ'K/E'
ƐƚĂďůŝƐŚĂŶĚƌĞŐƵůĂƌůLJƵƉĚĂƚĞĂůŝƐƚ
ŽĨƋƵĂůŝĨŝĞĚĂƌĐŚŝƚĞĐƚƵƌĂůŚŝƐƚŽƌŝĂŶƐƚŽƵƐĞĨŽƌƉƌŽũĞĐƚĐŽŶƐƵůƚĂƚŝŽŶ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘YƵĂůŝĨŝĞĚ
ŚŝƐƚŽƌŝĐƐƉĞĐŝĂůŝƐƚƐĂƌĞďĞŝŶŐƵƐĞĚƚŽĂƐƐĞƐƐƉƌŽƉŽƐĞĚĂŶĚĞdžŝƐƚŝŶŐ,ŝƐƚŽƌŝĐWƌĞƐĞƌǀĂƚŝŽŶWƌŽƉĞƌƚLJŐƌĞĞŵĞŶƚƐ͘ ,/^dKZ/WZ
^
Zsd/KE;,WͿ
Ϯϭ KEͲ'K/E' ZĞǀŝĞǁĚŝƐĐƌĞƚŝŽŶĂƌLJĚĞǀĞůŽƉŵĞŶƚ
ĂƉƉůŝĐĂƚŝŽŶƐĨŽƌĐŽŶƐŝƐƚĞŶĐLJǁŝƚŚŚŝƐƚŽƌŝĐƉƌĞƐĞƌǀĂƚŝŽŶƉŽůŝĐŝĞƐŝŶƚŚĞ'ĞŶĞƌĂůWůĂŶ͕ƚŚĞ,ŝƐƚŽƌŝĐWƌĞƐĞƌǀĂƚŝŽŶKƌĚŝŶĂŶĐĞĂŶĚnjŽŶŝŶŐƐƚĂŶĚĂƌĚƐ͕ƚŚĞ^ĞĐƌĞƚĂƌLJŽĨƚŚĞ/ŶƚĞƌŝŽƌ^ƚĂŶĚĂƌĚƐĨŽƌƚŚĞdƌĞĂƚŵĞŶƚŽĨ,ŝƐƚŽƌŝĐWƌŽƉĞƌƚŝĞƐ͕ĂŶĚƚŚĞĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘ƉƉůŝĐĂƚŝŽŶƐĂƌĞ
ƌĞǀŝĞǁĞĚĨŽƌĐŽŶƐŝƐƚĞŶĐLJǁŝƚŚƚŚĞ^ĞĐƌĞƚĂƌLJŽĨƚŚĞ/ŶƚĞƌŝŽƌΖƐ^ƚĂŶĚĂƌĚƐĨŽƌƚŚĞdƌĞĂƚŵĞŶƚŽĨ,ŝƐƚŽƌŝĐ^ƚƌƵĐƚƵƌĞƐĂŶĚŽƚŚĞƌƉŽůŝĐLJĂŶĚŐƵŝĚĞůŝŶĞĚŽĐƵŵĞŶƚƐ͘ ,/^dKZ/WZ
^
Zsd/KE;,WͿ
Ϯϯď KEͲ'K/E' tŽƌŬǁŝƚŚƉƵďůŝĐǁŽƌŬƐƚŚƌŽƵŐŚƚŚĞ
/WƚŽŝĚĞŶƚŝĨLJĂŶĚƉƵƌƐƵĞƉƵďůŝĐŝŵƉƌŽǀĞŵĞŶƚƐĂĚũĂĐĞŶƚƚŽŽƌŽŶƉƌŽƉĞƌƚŝĞƐǁŝƚŚŚŝƐƚŽƌŝĐƌĞƐŽƵƌĐĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ 
,/^dKZ/WZ
^
Zsd/KE;,WͿ
Ϯϳ KEͲ'K/E' /ŵƉůĞŵĞŶƚĂŚŝƐƚŽƌŝĐƉůĂƋƵĞ
ƉƌŽŐƌĂŵĨŽƌĂůůŚŝƐƚŽƌŝĐƌĞƐŽƵƌĐĞƐ͘WůĂƋƵĞĚĞƐŝŐŶƐƐŚĂůůďĞĐŽŶƐŝƐƚĞŶƚǁŝƚŚƚŚĞĂĚŽƉƚĞĚǁĂLJĨŝŶĚŝŶŐƐŝŐŶƉƌŽŐƌĂŵ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘/ŶϮϬϮϬ͕ƚŚĞ
WůĂŶŶŝŶŐŽŵŵŝƐƐŝŽŶĂƉƉƌŽǀĞĚƚŚĞƉůĂƋƵĞĚĞƐŝŐŶĨŽƌƚŚĞEŽƌƚŚĞĂĐŚ,ŝƐƚŽƌŝĐŝƐƚƌŝĐƚ͘ ,/^dKZ/WZ
^
Zsd/KE;,WͿ
,WͲϭ͘Ϭϰ Ϯ KEͲ'K/E' ŽŶƐŝĚĞƌŶŽŵŝŶĂƚŝŶŐƉƌŽƉĞƌƚŝĞƐĨŽƌ ŝŶĐůƵƐŝŽŶŽŶƚŚĞEĂƚŝŽŶĂůĂŶĚͬŽƌ^ƚĂƚĞZĞŐŝƐƚĞƌŽĨ,ŝƐƚŽƌŝĐWůĂĐĞƐǁŚĞŶƌĞŐŝƐƚƌĂƚŝŽŶĐƌŝƚĞƌŝĂŝƐŵĞƚ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘dŚŝƐŐŝǀĞƐƚŚĞ
ŝƚLJĂĚĚŝƚŝŽŶĂůƉƌŽƚĞĐƚŝŽŶƐĨŽƌƉƌŽũĞĐƚƐƚŚĂƚĐĂŶĂĚǀĞƌƐĞůLJĂĨĨĞĐƚƚŚĞƐƚĂƚƵƐŽĨŚŝƐƚŽƌŝĐƌĞƐŽƵƌĐĞƐ͘

ATTACHMENT 3
113

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
,/^dKZ/WZ
^
Zsd/KE;,WͿ
ϰ KEͲ'K/E' WĂƌƚŝĐŝƉĂƚĞŝŶƚŚĞEĂƚŝŽŶĂůdƌƵƐƚ
ĨŽƌ,ŝƐƚŽƌŝĐWƌĞƐĞƌǀĂƚŝŽŶDĂŝŶ^ƚƌĞĞƚWƌŽŐƌĂŵ͘
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ
,/^dKZ/WZ
^
Zsd/KE;,WͿ
ϱĂ KEͲ'K/E' DĂŝŶƚĂŝŶƚŚĞŝƚLJ͛ƐůŝƐƚŽĨĚĞƐŝŐŶĂƚĞĚ
>ĂŶĚŵĂƌŬƐĂŶĚ,ŝƐƚŽƌŝĐZĞƐŽƵƌĐĞƐ͘
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘>ŝƐƚŝƐĂǀĂŝůĂďůĞ
ŽŶůŝŶĞ͘
>Eh^
;>hͿ >hͲϭϮ͘ϬϮ͕
>hͲϭϮ͘Ϭϳ
ϮϬ KEͲ'K/E' DĞĞƚǁŝƚŚĚĞǀĞůŽƉĞƌƐƚŽďĞƚƚĞƌ
ƵŶĚĞƌƐƚĂŶĚĐŚĂŶŐŝŶŐŽƉƉŽƌƚƵŶŝƚŝĞƐĂŶĚĐŽŶƐƚƌĂŝŶƚƐ;ƉŚLJƐŝĐĂů͕ƌĞŐƵůĂƚŽƌLJĂŶĚĨŝŶĂŶĐŝĂůͿ͕ĂŶĚƵƐĞĨĞĞĚďĂĐŬƚŽŵĂŝŶƚĂŝŶĂŶĚŝŵƉůĞŵĞŶƚĞĨĨĞĐƚŝǀĞƐƚĂŶĚĂƌĚƐĨŽƌĚĞǀĞůŽƉŵĞŶƚƚŚĂƚĨƵůĨŝůůƐŝƚLJŐŽĂůƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘EŽĐŽŶƐƚƌĂŝŶƚƐ͘
DŽŶŝƚŽƌĂŶĚƌĞƐĞĂƌĐŚĂƐŶĞĞĚĞĚƚŽĂĚĚƌĞƐƐŝƐƐƵĞƐĂŶĚŝŶĨŽƌŵĚĞĐŝƐŝŽŶŵĂŬĞƌƐ͘ >Eh^
;>hͿ >hͲϴ͘Ϭϲ͕
>hͲϵ͘Ϭϱ͕>hͲϭϬ͘Ϭϵ͕>hͲϭϮ͘Ϭϵ͕>hͲϭϯ͘ϬϮ͕>hͲϭϰ͘Ϭϱ
ϭϴ KEͲ'K/E' ĞǀĞůŽƉƐƚƌĂƚĞŐŝĞƐƚŽŝŵƉƌŽǀĞ
ƚƌĂŶƐŝƚ͕ƉĞĚĞƐƚƌŝĂŶĂŶĚďŝĐLJĐůĞĂĐĐĞƐƐĂŶĚƌĞĚƵĐĞĐŽŶŐĞƐƚŝŽŶ͕ƉŽƐƐŝďůLJŝŶĐůƵĚŝŶŐƐŚƵƚƚůĞƐĞƌǀŝĐĞƐĂŶĚďŝĐLJĐůĞĨĂĐŝůŝƚŝĞƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐͲ /ŵƉůĞŵĞŶƚĞĚƚƌŽůůĞLJƐĞƌǀŝĐĞƐƚĂƌƚŝŶŐŝŶϮϬϭϳ͘ŽŶƚŝŶƵŝŶŐƚŽŝŵƉƌŽǀĞĂŶĚͬŽƌĂĚĚďŝĐLJĐůĞĨĂĐŝůŝƚŝĞƐŝŶĐŽŶũƵŶĐƚŝŽŶǁŝƚŚĂƉƉƌŽǀĞĚƐƚƌĞĞƚƌĞŚĂďŝůŝƚĂƚŝŽŶƉƌŽũĞĐƚƐ͘ůƐŽ͕ĐŽŶƚŝŶƵĞƚŽŝŵƉůĞŵĞŶƚŝŶŶŽǀĂƚŝǀĞƌŝĚĞƐŚĂƌĞƉƌŽŐƌĂŵŝŶƉĂƌƚŶĞƌƐŚŝƉǁŝƚŚ>LJĨƚƵƚƚĞƌĨůŝĂŶĚzĞůůŽǁĂď͘

ATTACHMENT 3
114

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
>Eh^
;>hͿ >hͲϭϮ͘Ϭϵ Ϯϯ KEͲ'K/E' ŽŶƐŝĚĞƌƚƌĂĨĨŝĐĐĂůŵŝŶŐƐƚƌĂƚĞŐŝĞƐŝŶ ƚŚĞĂƌĞĂ͘
WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ͕ ĨƵŶĚŝŶŐůŝŵŝƚĂƚŝŽŶƐͲŽĂƐ
ƌĞƋƵĞƐƚƐͬƉĞƚŝƚŝŽŶƐĂƌĞƌĞĐĞŝǀĞĚĂŶĚŝŶĐŽŶũƵŶĐƚŝŽŶǁŝƚŚƐƚƌĞĞƚŝŵƉƌŽǀĞŵĞŶƚƉƌŽũĞĐƚƐƉůƵƐĂŶŶƵĂů/WƉůĂŶŶŝŶŐ͘ >Eh^
;>hͿ >hͲϭϰ͘Ϭϱ Ϯϱ KEͲ'K/E' ĞǀĞůŽƉĂŶĞǁƐƚƌĞĞƚƐĐĂƉĞĂŶĚ ůĂŶĚƐĐĂƉŝŶŐƉůĂŶĂŶĚ^ĂĨĞZŽƵƚĞƐƚŽ^ĐŚŽŽůƉƌŽŐƌĂŵƚŽŝŵƉůĞŵĞŶƚƚŚĞDŽďŝůŝƚLJĂŶĚŽŵƉůĞƚĞ^ƚƌĞĞƚƐ ůĞŵĞŶƚĂŶĚŝĐLJĐůĞĂŶĚWĞĚĞƐƚƌŝĂŶDĂƐƚĞƌWůĂŶ͘
WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ ^ĐŚĞĚƵůŝŶŐͬdŝŵŝŶŐ͗KďƚĂŝŶ ĞĚŐƌĂŶƚĨŽƌ^͘
ůĂŵŝŶŽZĞĂů͘WůĂŶŶĞĚĂŶĚďƵĚŐĞƚĞĚŝŶŐƌĂŶƚĨŽƌ&zϮϬϮϰ͘ĞůĂLJĞĚĚƵĞƚŽĂůdƌĂŶƐƉƌŽũĞĐƚ͘tŽƌŬŝŶŐŽŶǀĞ͘WŝĐŽŝŬĞ/ŵƉƌŽǀĞŵĞŶƚƐĞĂƐƚŽĨ/ͲϱƚŽsĞƌĂƌƵnj͘ DK/>/dzEKDW>
d
^dZ

d^
DͲϭ͘ϮϮ ϯϮ KEͲ'K/E'
ŶĐŽƵƌĂŐĞŝƚLJŽĨĨŝĐŝĂůƐĂŶĚ
ĞŵƉůŽLJĞĞƐ͕ĂƐǁĞůůĂƐŽƚŚĞƌĞŵƉůŽLJĞƌƐ͕ƚŽƉĂƌƚŝĐŝƉĂƚĞŝŶ͞ŝŬĞƚŽtŽƌŬDŽŶƚŚ͟ĂŶĚ͞ŝŬĞƚŽtŽƌŬtĞĞŬ͘͟ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ dŚĞKƌĂŶŐĞŽƵŶƚLJ
dƌĂŶƐƉŽƌƚĂƚŝŽŶƵƚŚŽƌŝƚLJ;KdͿŝŶĐĞŶƚŝǀŝnjĞƐ͞ŝŬĞƚŽtŽƌŬDŽŶƚŚ͟ĂŶĚ͞ŝŬĞƚŽtŽƌŬtĞĞŬ͘͟ dŽƌĞĨůĞĐƚKd͛ƐŽŶŐŽŝŶŐ
ĞĨĨŽƌƚƐ͘
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϯ͘Ϭϱ͕DͲϮ͘Ϯϵ
ϮϮ KEͲ'K/E' ,ŽƐƚďŝĐLJĐůĞĂŶĚǁĂůŬŝŶŐƐĂĨĞƚLJ
ůĞƐƐŽŶƐƐƵĐŚĂƐŝŶƚĞƌŶĂƚŝŽŶĂůǁĂůŬͬďŝŬĞƚŽƐĐŚŽŽůĚĂLJĞǀĞŶƚƐ͘ WZ KŶͲŐŽŝŶŐ dŚĞŝƚLJŚŽƐƚƐĂŝŬĞ
^ĂĨĞƚLJZŽĚĞŽĞǀĞŶƚĂŶŶƵĂůůLJŝŶƉĂƌƚŶĞƌƐŚŝƉǁŝƚŚKƌĂŶŐĞŽƵŶƚLJ^ŚĞƌŝĨĨΖƐĞƉĂƌƚŵĞŶƚŝŬĞƐĂĨĞƚLJŝƐĂůƐŽŚŝŐŚůŝŐŚƚĞĚĂŶŶƵĂůůLJĂƚ&ƵŶŽŶƚŚĞZƵŶĂŶĚŝŶƚƌŽĚƵĐĞĚĂƚƚŚĞ^ĂŶůĞŵĞŶƚĞWůĂLJƐĐŚŽŽů͘

ATTACHMENT 3
115

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϭ͘Ϭϵ Ϯϱ KEͲ'K/E' ŽŶƐŝĚĞƌĚĞƐŝŐŶĂƚŝŶŐĂůĂǁ
ĞŶĨŽƌĐĞŵĞŶƚůŝĂŝƐŽŶŽĨĨŝĐĞƌĨŽƌƚŚĞďŝĐLJĐůĞĂŶĚƉĞĚĞƐƚƌŝĂŶĐŽŵŵƵŶŝƚLJ͘ WƵďůŝĐ^ĂĨĞƚLJ KŶͲŐŽŝŶŐ >ĂǁĞŶĨŽƌĐĞŵĞŶƚƐƚĂĨĨŝŶŐ
ŝƐĐŽŶƐŝĚĞƌĞĚĂŶĚĂĚũƵƐƚĞĚƚŚƌŽƵŐŚƚŚĞĂŶŶƵĂůďƵĚŐĞƚƉƌŽĐĞƐƐ DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϭ͘ϭϵͲϮϰ͕DͲϮ͘ϭϭͲϱϰ
ϯ KEͲ'K/E' /ŵƉůĞŵĞŶƚƚŚĞŝĐLJĐůĞĂŶĚ
WĞĚĞƐƚƌŝĂŶDĂƐƚĞƌWůĂŶ͕ŝŶĐůƵĚŝŶŐĐĂŶĚŝĚĂƚĞƉƌŽũĞĐƚƐŝŶƐƵďũĞĐƚƚŽŵŽƌĞĚĞƚĂŝůĞĚĞŶŐŝŶĞĞƌŝŶŐƐƚƵĚŝĞƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ͖ ŽŶƐŝĚĞƌĞĚĂƐƉĂƌƚŽĨĂŶŶƵĂůďƵĚŐĞƚƉƌŽĐĞƐƐ͘/ŵƉůĞŵĞŶƚĞĚĂƐƉĂƌƚŽĨĂŶŶƵĂů/WƉƌŽĐĞƐƐ͘ DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϮ͘ϮϮ͕DͲϮ͘ϰϲ
ϴ KEͲ'K/E' tŽƌŬŝŶŐǁŝƚŚŽƚŚĞƌĂŐĞŶĐŝĞƐ͕ƚŚĞ
ŝƚLJǁŝůůƐĞĞŬŐƌĂŶƚƐƚŽŚĞůƉĚĞǀĞůŽƉ͕ŽƉĞƌĂƚĞĂŶĚŵĂŝŶƚĂŝŶĂĐŽŵƉƌĞŚĞŶƐŝǀĞƚƌĂŝůƐLJƐƚĞŵƚŚƌŽƵŐŚ^ĂŶůĞŵĞŶƚĞ͛ƐŽƉĞŶƐƉĂĐĞƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ͖ KŶŐŽŝŶŐĞĨĨŽƌƚǁŝƚŚƌĞŐƵůĂƌŵĂŝŶƚĞŶĂŶĐĞĂŶĚŝŵƉƌŽǀĞŵĞŶƚƐ͘ DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϭ͘ϭϭ ϭϯ KEͲ'K/E' ŽŶƐŝĚĞƌƉƌĞƉĂƌŝŶŐĚĞƚĂŝůĞĚĐŽŶĐĞƉƚ ƉůĂŶƐƚŽĞǀĂůƵĂƚĞĂůƚĞƌŶĂƚĞǀŝƐŝŽŶƐĨŽƌŵĂũŽƌDW,ĐŽƌƌŝĚŽƌƐ͕ĂŶĚĂĚĚƌĞƐƐƚLJƉĞƐŽĨŵƵůƚŝͲŵŽĚĂůŝŵƉƌŽǀĞŵĞŶƚƐƚŚĂƚĐĂŶďĞŝŶĐůƵĚĞĚǁŝƚŚŝŶƚŚĞĐŽŶƐƚƌĂŝŶĞĚƌŝŐŚƚƐͲŽĨͲǁĂLJ;ƵŶůĞƐƐŝƚŝƐĚĞĐŝĚĞĚƚŽĂĐƋƵŝƌĞŵŽƌĞƌŝŐŚƚͲŽĨͲǁĂLJͿĨŽƌǀĂƌŝŽƵƐĂůƚĞƌŶĂƚŝǀĞƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͗^ƚĂĨĨŝŶŐ
ZĞƐŽƵƌĐĞƐͲWĂƌƚŽĨ/W
ƉƌŽũĞĐƚĚĞǀĞůŽƉŵĞŶƚƉƌŽĐĞƐƐ
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϮ͘ϯϵ͕DͲϮ͘ϰϬ͕DͲϮ͘ϰϭ
ϭϱ KEͲ'K/E' /ĚĞŶƚŝĨLJĂŶĚĚĞƐŝŐŶĂƚĞůĂƐƐϮďŝŬĞ
ůĂŶĞƐǁŚĞƌĞĐŽŶƐŝĚĞƌĞĚĂƉƉƌŽƉƌŝĂƚĞĂŶĚƚŚĞƌĞŝƐƐƵĨĨŝĐŝĞŶƚĐƵƌďͲƚŽͲĐƵƌďƐƚƌĞĞƚƉĂǀĞŽƵƚǁŝĚƚŚ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ KŶͲŐŽŝŶŐ͗^ƚĂĨĨŝŶŐ ZĞƐŽƵƌĐĞƐ͗ĚĚƌĞƐƐĞĚŝŶ
ĂŶŶƵĂů/WƉƌŽĐĞƐƐ͘

ATTACHMENT 3
116

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϮ͘ϭϳ͕DͲϮ͘Ϯϱ͕DͲϮ͘Ϯϲ
ϭϲ KEͲ'K/E' /ŶƐƚĂůůǀĞŚŝĐůĞĂĐƚƵĂƚŝŽŶƚŽĚĞƚĞĐƚ
ďŝĐLJĐůĞƐ;sϮϭϰϱϬ͘ϱͿĂŶĚŝŶƐƚĂůůďŝĐLJĐůĞĚĞƚĞĐƚŽƌƉĂǀĞŵĞŶƚŵĂƌŬŝŶŐƐĂƚƚƌĂĨĨŝĐƐŝŐŶĂůƐƵƐŝŶŐďĞƐƚƉƌĂĐƚŝĐĞƐĂŶĚĂĚŽƉƚĞĚ^ƚĂƚĞŽƌ&ĞĚĞƌĂůƐƚĂŶĚĂƌĚƐǁŚĞŶŝŶƚĞƌƐĞĐƚŝŽŶƐǁŝƚŚƐŝŐŶĂůƐĂƌĞƌĞŚĂďŝůŝƚĂƚĞĚ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ &ƵŶĚŝŶŐ
>ŝŵŝƚĂƚŝŽŶƐ͗ĚĚƌĞƐƐĞĚŝŶ
ĂŶŶƵĂů/WƉƌŽĐĞƐƐǁŚĞŶǁĞŚĂǀĞƐŝŐŶĂůƌĞŚĂďŝůŝƚĂƚŝŽŶƉƌŽũĞĐƚƐ͘ DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϮ͘Ϯϰ ϭϵ KEͲ'K/E' WĞƌŝŽĚŝĐĂůůLJƌĞǀŝĞǁ;ĨŽƌĞdžĂŵƉůĞ͕
ǁŚĞŶƚŚĞŝĐLJĐůĞĂŶĚWĞĚĞƐƚƌŝĂŶDĂƐƚĞƌWůĂŶŝƐƵƉĚĂƚĞĚĂŶĚĂƐƉĂƌƚŽĨƚŚĞ>ŽŶŐdĞƌŵ&ŝŶĂŶĐŝĂůWůĂŶƉƌŽĐĞƐƐͿŽĨĨŝĐŝĂůĚĂƚĂďĂƐĞƐŽĨďŝĐLJĐůĞĂŶĚƉĞĚĞƐƚƌŝĂŶĂĐĐŝĚĞŶƚƐ͕ĂŶĂůLJnjĞƚŚĞŝƌĐĂƵƐĞƐĂŶĚůŽĐĂƚŝŽŶƐ͕ĂŶĚƐƚƌŝǀĞƚŽƌĞĚƵĐĞĂĐĐŝĚĞŶƚƐƚŚƌŽƵŐŚŝŶĨƌĂƐƚƌƵĐƚƵƌĞŝŵƉƌŽǀĞŵĞŶƚƐ͕ĐŽŵŵƵŶŝƚLJŽƵƚƌĞĂĐŚĂŶĚĞĚƵĐĂƚŝŽŶĂŶĚůĂǁĞŶĨŽƌĐĞŵĞŶƚĞĨĨŽƌƚƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ͗ZĞǀŝĞǁ ƌĞƉŽƌƚƐŽĨĂĐĐŝĚĞŶƚƐ͘
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϮ͘Ϯϭ͕DͲϮ͘ϮϮ
Ϯϭ KEͲ'K/E' /ŶƚĞŐƌĂƚĞǁĂůŬŝŶŐƌŽƵƚĞƐŝŶƚŽŶĞǁ
ŐƌĞĞŶǁĂLJƐĂŶĚŽƉĞŶƐƉĂĐĞĂƌĞĂƐ͕ǁŚĞƌĞĂƉƉƌŽƉƌŝĂƚĞ͕ĂŶĚĞŶĐŽƵƌĂŐĞƚŚĞŵŝŶĞdžŝƐƚŝŶŐŐƌĞĞŶǁĂLJƐĂŶĚŽƉĞŶƐƉĂĐĞĂƌĞĂƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ ^ĐŚĞĚƵůŝŶŐͬdŝŵŝŶŐ͗/ŵƉƌŽǀ ĞŵĞŶƚƐƉƵƌƐƵĞĚĂƐŽƉƉŽƌƚƵŶŝƚŝĞƐĂƌŝƐĞ͘
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϮ͘Ϯϭ͕DͲϮ͘Ϯϱ͕DͲϮ͘Ϯϲ͕DͲϮ͘Ϯϴ
Ϯϲ KEͲ'K/E' WƌŽǀŝĚĞƚƌĂŝŶŝŶŐŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌ
ĞŶŐŝŶĞĞƌŝŶŐĂŶĚƉůĂŶŶŝŶŐƐƚĂĨĨŽŶǁĂLJƐƚŽŝŶƚĞŐƌĂƚĞďŝĐLJĐůŝƐƚƐĂŶĚƉĞĚĞƐƚƌŝĂŶƐǁŝƚŚƚŚĞƚƌĂŶƐƉŽƌƚĂƚŝŽŶŶĞƚǁŽƌŬ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶŐŽŝŶŐĂƐƚƌĂŝŶŝŶŐ
ŽƉƉŽƌƚƵŶŝƚŝĞƐͬĐŽƵƌƐĞƐĂƌŝƐĞ͘

ATTACHMENT 3
117

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϯ͘Ϭϱ Ϯϳ KEͲ'K/E' WƌŽǀŝĚĞƚƌĂŝŶŝŶŐĂŶĚƉƵďůŝĐŽƵƚƌĞĂĐŚ ŽƉƉŽƌƚƵŶŝƚŝĞƐĂďŽƵƚďŝĐLJĐůŝƐƚƐ͛ĂŶĚƉĞĚĞƐƚƌŝĂŶƐ͛ůĞŐĂůƌŝŐŚƚƐĂŶĚĚƵƚŝĞƐĨŽƌŝƚLJĞŶŐŝŶĞĞƌŝŶŐĂŶĚƉůĂŶŶŝŶŐƐƚĂĨĨ͕ĂƐǁĞůůĂƐĨŽƌůĂǁĞŶĨŽƌĐĞŵĞŶƚŽĨĨŝĐŝĂůƐ͘ WƵďůŝĐtŽƌŬƐ EŽƚƐƚĂƌƚĞĚ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ ZĞƐŽƵƌĐĞƐŶŽƚĂǀĂŝůĂďůĞ͘
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϮ͘Ϯϵ Ϯϴ KEͲ'K/E' WƌŽǀŝĚĞĂŶŽƵƚƌĞĂĐŚĂŶĚĞĚƵĐĂƚŝŽŶ
ĐŽŵƉŽŶĞŶƚƚŽĐŽŝŶĐŝĚĞǁŝƚŚƚŚĞĨŝƌƐƚŝŶƐƚĂůůĂƚŝŽŶŽĨĂŶLJŶĞǁƚLJƉĞŽĨďŝĐLJĐůĞĨĂĐŝůŝƚLJĂƐƉĂƌƚŽĨƚŚĞŝŵƉůĞŵĞŶƚĂƚŝŽŶŽĨƚŚĞĂƐƐŽĐŝĂƚĞĚĐĂƉŝƚĂůŝŵƉƌŽǀĞŵĞŶƚƉƌŽũĞĐƚ͘ WƵďůŝĐtŽƌŬƐ EŽƚƐƚĂƌƚĞĚ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ͗ KŶŐŽŝŶŐŽŶĂŶĂƐͲƌĞƋƵĞƐƚĞĚďĂƐŝƐ͘
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϮ͘ϯϬ͕DͲϮ͘ϯϲ͕DͲϯ͘Ϭϯ
ϯϲ KEͲ'K/E' WƌŽǀŝĚĞĂƐƐŝƐƚĂŶĐĞƚŽƐĐŚŽŽůĚŝƐƚƌŝĐƚƐ
ŝŶĨĂĐŝůŝƚLJƉůĂŶŶŝŶŐĂŶĚƚƌĂŶƐƉŽƌƚĂƚŝŽŶŽƉĞƌĂƚŝŽŶƐƚŽĞŶƐƵƌĞƐĂĨĞƚLJĨŽƌƵƐĞƌƐŽĨĂůůŵŽĚĞƐĚƵƌŝŶŐƐĐŚŽŽůƉŝĐŬͲƵƉ͕ĚƌŽƉͲŽĨĨĂŶĚŽƚŚĞƌƐƉĞĐŝĂůĞǀĞŶƚƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ KŶͲ'ŽŝŶŐ͗ƌĂŵƉƐĂƌĞ ŝŶƐƚĂůůĞĚŽƌƵƉŐƌĂĚĞĚǁŚĞŶŝŵƉůĞŵĞŶƚŝŶŐƐƚƌĞĞƚƌĞŚĂďŝůŝƚĂƚŝŽŶƉƌŽũĞĐƚƐ͘WƌŽǀŝĚĞƚƌĂĨĨŝĐĂŶĂůLJƐŝƐĨŽƌŶĞǁŽƌŵŽĚŝĨŝĞĚĨĂĐŝůŝƚŝĞƐ DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϯ͘ϬϮ ϰϬ KEͲ'K/E' ZĞƚƌŽĨŝƚƐƚƌĞĞƚƐĂŶĚƌĞƋƵŝƌĞ
ĚĞǀĞůŽƉŵĞŶƚƐƚŽŝŶƐƚĂůůƉƵďůŝĐŝŵƉƌŽǀĞŵĞŶƚƐƚŚĂƚƉƌŽǀŝĚĞĚŝƐĂďůĞĚĂĐĐĞƐƐĂŶĚŵŽďŝůŝƚLJŽŶƉƵďůŝĐƐƚƌĞĞƚƐ͕ĂƐƌĞƋƵŝƌĞĚďLJ^ƚĂƚĞŽƌ&ĞĚĞƌĂůůĂǁ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ dŚŝƐŝƐĂŶŽŶŐŽŝŶŐĞĨĨŽƌƚ
ǁŝƚŚƌĞŐƵůĂƌŵĂŝŶƚĞŶĂŶĐĞ͘
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϯ͘Ϭϭ͕DͲϯ͘ϬϮ
ϰϭ KEͲ'K/E' tŽƌŬƚŽǁĂƌĚƐĐůŽƐŝŶŐŐĂƉƐŝŶ^ĂŶ
ůĞŵĞŶƚĞ͛ƐƉĞĚĞƐƚƌŝĂŶŶĞƚǁŽƌŬ͘
WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͗ĚĚƌĞƐƐĞĚǀŝĂ
ĂŶŶƵĂů/WďƵĚŐĞƚƉƌŽĐĞƐƐĂŶĚǁŝƚŚŽŶŐŽŝŶŐƉƌŝǀĂƚĞĚĞǀĞůŽƉŵĞŶƚ͘ EdhZ>Z
^KhZ
^;WZͿ
'ŽĂůϲ ϭϴ KEͲ'K/E' ^ŽůŝĐŝƚƐƚĂƚĞĂŶĚĨĞĚĞƌĂůŐƌĂŶƚƐƚŽ ŝŵƉůĞŵĞŶƚƚŚĞŝƚLJΖƐĞŶĞƌŐLJĐŽŶƐĞƌǀĂƚŝŽŶƉƌŽŐƌĂŵƐĂƐƐƵĐŚĨƵŶĚŝŶŐďĞĐŽŵĞƐĂǀĂŝůĂďůĞ͘ WƵďůŝĐtŽƌŬƐĂŶĚhƚŝůŝƚŝĞƐ
KŶͲŐŽŝŶŐ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐͲ
KŶŐŽŝŶŐĂƐŽƉƉŽƌƚƵŶŝƚŝĞƐĂƌŝƐĞ͘

ATTACHMENT 3
118

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
EdhZ>Z
^KhZ
^;WZͿ
'ŽĂůϲ ϭϴ KEͲ'K/E' ^ŽůŝĐŝƚƐƚĂƚĞĂŶĚĨĞĚĞƌĂůŐƌĂŶƚƐƚŽ ŝŵƉůĞŵĞŶƚƚŚĞŝƚLJΖƐĞŶĞƌŐLJĐŽŶƐĞƌǀĂƚŝŽŶƉƌŽŐƌĂŵƐĂƐƐƵĐŚĨƵŶĚŝŶŐďĞĐŽŵĞƐĂǀĂŝůĂďůĞ͘ WƵďůŝĐtŽƌŬƐĂŶĚhƚŝůŝƚŝĞƐ
KŶͲŐŽŝŶŐ KŶŐŽŝŶŐĂƐŽƉƉŽƌƚƵŶŝƚŝĞƐ
ĂƌŝƐĞ͘
EdhZ>Z
^KhZ
^;EZͿ
EZͲϭ͘Ϭϭ͕EZͲϭ͘ϬϮ͕EZͲϭ͘Ϭϯ
ϭ KEͲ'K/E' /ĚĞŶƚŝĨLJĂŶĚƉƌŽƚĞĐƚƌŝƉĂƌŝĂŶ
ĐŽƌƌŝĚŽƌƐƚŚƌŽƵŐŚnjŽŶŝŶŐ͕ĞĂƐĞŵĞŶƚƐŽƌŽƚŚĞƌŵĞĂƐƵƌĞƐƚŚĂƚĞŶƐƵƌĞĞĨĨĞĐƚŝǀĞ͕ůŽŶŐͲƚĞƌŵĐŽŶƐĞƌǀĂƚŝŽŶ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ tŝůůďĞŝŶĐůƵĚĞĚŝŶŽŶŝŶŐ
ƵƉĚĂƚĞƐĂŶĚ>ŽĐĂůŽĂƐƚĂůWƌŽŐƌĂŵƉƌŽĐĞƐƐ͘
EdhZ>Z
^KhZ
^;EZͿ
EZͲϭ͘Ϭϭ Ϯ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽƉƌŽǀŝĚĞƉƵďůŝĐ
ĞĚƵĐĂƚŝŽŶŵĂƚĞƌŝĂůƐƌĞŐĂƌĚŝŶŐƚŚĞŝƚLJ͛ƐƐĞŶƐŝƚŝǀĞŚĂďŝƚĂƚƐ͕ƚŚĞǀĂůƵĞƐŽĨǁĂƚĞƌƐŚĞĚ͕ďŝŽůŽŐŝĐĂůƌĞƐŽƵƌĐĞƐĂŶĚƐĞŶƐŝƚŝǀĞŚĂďŝƚĂƚƐĂŶĚŚŽǁƚŽƉƌŽƚĞĐƚƚŚĞŵ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ ZĞƐŽƵƌĐĞƐŵĂĚĞĂǀĂŝůĂďůĞ
ǁŚĞŶŶĞĞĚĞĚŽƌƌĞƋƵĞƐƚĞĚ͘
EdhZ>Z
^KhZ
^;EZͿ
EZͲϱ͘Ϭϭ ϭϮ KEͲ'K/E' ZĞǀŝĞǁĚŝƐĐƌĞƚŝŽŶĂƌLJĚĞǀĞůŽƉŵĞŶƚ
ĂƉƉůŝĐĂƚŝŽŶƐƚŽĞŶƐƵƌĞƉƌŽũĞĐƚƐĨŽůůŽǁŵŝƚŝŐĂƚŝŽŶŵĞĂƐƵƌĞƐŽĨƚŚĞ'ĞŶĞƌĂůWůĂŶ ŶǀŝƌŽŶŵĞŶƚĂů/ŵƉĂĐƚZĞƉŽƌƚ͕ŝŶĐůƵĚŝŶŐYDĂŝƌƋƵĂůŝƚLJƌĞƋƵŝƌĞŵĞŶƚƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘ZĞǀŝĞǁĞĚĂŶĚ
ƌĞƋƵŝƌĞĚƚŚƌŽƵŐŚĚŝƐĐƌĞƚŝŽŶĂƌLJƉƌŽũĞĐƚƌĞǀŝĞǁƐƚŚƌŽƵŐŚDd͕ Y͕ĂŶĚĐŽŶĚŝƚŝŽŶƐŽĨĂƉƉƌŽǀĂů͘
EdhZ>Z
^KhZ
^;EZͿ
'ŽĂůϰ ϭϬ KEͲ'K/E' DĂŝŶƚĂŝŶƵƉͲƚŽͲĚĂƚĞŝŶĨŽƌŵĂƚŝŽŶ
ƌĞŐĂƌĚŝŶŐƚŚĞůŽĐĂƚŝŽŶŽĨŵŝŶĞƌĂůƌĞƐŽƵƌĐĞnjŽŶĞƐŝŶƚŚĞŝƚLJ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͗hƉĚĂƚĞ
ŝŶĨŽƌŵĂƚŝŽŶĂƐŽƉƉŽƌƚƵŶŝƚŝĞƐďĞĐŽŵĞĂǀĂŝůĂďůĞ͘

ATTACHMENT 3
119

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
EdhZ>Z
^KhZ
^;EZͿ
EZͲϭ͘Ϭϲ ϱ KEͲ'K/E' tŽƌŬŝŶŐǁŝƚŚĐŽŵŵƵŶŝƚLJ
ǀŽůƵŶƚĞĞƌƐ͕ĐŽŶƐĞƌǀĂƚŝŽŶĐůƵďƐ͕LJŽƵƚŚŐƌŽƵƉƐĂŶĚŶŽŶͲƉƌŽĨŝƚĂŐĞŶĐŝĞƐ͕ŚĞůƉƉůĂŶĂŶĚƐƵƉƉŽƌƚĐŽŶƐĞƌǀĂƚŝŽŶĂĐƚŝǀŝƚŝĞƐƐƵĐŚĂƐŚĂďŝƚĂƚƌĞƐƚŽƌĂƚŝŽŶ͕ŝŶƚĞƌƉƌĞƚŝǀĞƐŝŐŶĂŐĞĂŶĚƚŽƵƌƐ͕ƚƌĂŝůďƵŝůĚŝŶŐ͕ĞƌŽƐŝŽŶĐŽŶƚƌŽůĂŶĚůŝƚƚĞƌƌĞŵŽǀĂů͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ ^ƚĂĨĨǁŽƌŬƐǁŝƚŚǀĂƌŝŽƵƐ
ŐƌŽƵƉƐƚŽƉƌŽŵŽƚĞůŝƚƚĞƌƌĞŵŽǀĂůĂŶĚĞƌŽƐŝŽŶĐŽŶƚƌŽů͘/ŶĂĚĚŝƚŝŽŶ͕ƐƚĂĨĨƉƌŽǀŝĚĞƐĞĚƵĐĂƚŝŽŶƚŽŚŝŐŚƐĐŚŽŽů͕ŵŝĚĚůĞĂŶĚĞůĞŵĞŶƚĂƌLJƐĐŚŽŽůƐƚƵĚĞŶƚƐ͘ EdhZ>Z
^KhZ
^;EZͿ
EZͲϱ͘Ϭϯ ϭϯ KEͲ'K/E' /ŵƉůĞŵĞŶƚŐƌĞĞŶŚŽƵƐĞŐĂƐĞŵŝƐƐŝŽŶ
ƌĞĚƵĐƚŝŽŶŵĞĂƐƵƌĞƐŽĨƚŚĞŝƚLJ͛ƐůŝŵĂƚĞĐƚŝŽŶWůĂŶ͘
hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ &ƵŶĚŝŶŐĂŶĚƌĞƐŽƵƌĐĞƐ
ĂƌĞŶĞĞĚĞĚƚŽŝŵƉůĞŵĞŶƚƚŚŝƐƉƌŽŐƌĂŵ͘
EdhZ>Z
^KhZ
^;EZͿ
'ŽĂůϱ ϭϱ KEͲ'K/E' ZĞǀŝĞǁĂŶĚƵƉĚĂƚĞƚŚĞ^ĂŶ
ůĞŵĞŶƚĞDƵŶŝĐŝƉĂůŽĚĞƚŽĨƵƌƚŚĞƌƚŚĞŐŽĂůƐ͕ƉŽůŝĐŝĞƐĂŶĚŵĞĂƐƵƌĞƐŽĨƚŚĞůŝŵĂƚĞĐƚŝŽŶWůĂŶĂŶĚ^ƵƐƚĂŝŶĂďŝůŝƚLJĐƚŝŽŶWůĂŶ͘ ŶĨŽƌĐĞƉƌŽǀŝƐŝŽŶƐĂŶĚĞƐƚĂďůŝƐŚĂĚĚŝƚŝŽŶĂůĞŶĞƌŐLJƉĞƌĨŽƌŵĂŶĐĞƌĞƋƵŝƌĞŵĞŶƚƐŝŶƚŚĞďƵŝůĚŝŶŐĐŽĚĞĂƐŝŶĨŽƌŵĂƚŝŽŶďĞĐŽŵĞƐĂǀĂŝůĂďůĞ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ &ƵŶĚŝŶŐĂŶĚƌĞƐŽƵƌĐĞƐ
ĂƌĞŶĞĞĚĞĚƚŽŝŵƉůĞŵĞŶƚƚŚŝƐƉƌŽŐƌĂŵ͘
EdhZ>Z
^KhZ
^;EZͿ
EZͲϲ͘Ϭϴ ϭϲ KEͲ'K/E' WƌŽŵŽƚĞƉƌŝǀĂƚĞƵƚŝůŝƚLJƉƌŽŐƌĂŵƐĨŽƌ ĞŶĞƌŐLJĂƵĚŝƚƐŽĨĞdžŝƐƚŝŶŐƐƚƌƵĐƚƵƌĞƐĂŶĚƉƵďůŝĐĞĚƵĐĂƚŝŽŶƉƌŽŐƌĂŵƐƚŽƉƌŽŵŽƚĞĞŶĞƌŐLJĐŽŶƐĞƌǀĂƚŝŽŶ͘dŚĞƉƌŽŐƌĂŵƐƐŚŽƵůĚĚĞĨŝŶĞƚŚĞĐƵƌƌĞŶƚůĞǀĞůƐŽĨƵƐĞ͕ĐŽŵƉĂƌĞƚŚĞƐĞƚŽĐƵƌƌĞŶƚƐƚĂŶĚĂƌĚƐĨŽƌƐŝŵŝůĂƌƚLJƉĞƐŽĨƐƚƌƵĐƚƵƌĞƐĂŶĚƉƌĞƐĐƌŝďĞĐŽƌƌĞĐƚŝǀĞŵĞƚŚŽĚƐƚŽŝŵƉƌŽǀĞĐŽŶƐĞƌǀĂƚŝŽŶ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ &ƵŶĚŝŶŐĂŶĚƌĞƐŽƵƌĐĞƐ
ĂƌĞŶĞĞĚĞĚƚŽŝŵƉůĞŵĞŶƚƚŚŝƐƉƌŽŐƌĂŵ͘

ATTACHMENT 3
120

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
EdhZ>Z
^KhZ
^;EZͿ
EZͲϲ͘Ϭϰ Ϯϳ KEͲ'K/E' ŽŶƐŝĚĞƌƉŽƚĞŶƚŝĂůĨŽƌĂĐŚŝĞǀŝŶŐ
>

KƉĞƌĂƚŝŽŶƐĂŶĚDĂŝŶƚĞŶĂŶĐĞĐĞƌƚŝĨŝĐĂƚŝŽŶ͕ŽƌƚŚĞĞƋƵŝǀĂůĞŶƚ͕ĨŽƌĂƉƉƌŽƉƌŝĂƚĞŝƚLJĨĂĐŝůŝƚŝĞƐ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ ƐĨĂĐŝůŝƚŝĞƐĂƌĞƌĞƉůĂĐĞĚ
ŽƌƌĞŚĂďŝůŝƚĂƚĞĚ͕>

ĞǀĂůƵĂƚŝŽŶŝƐĐŽŶĚƵĐƚĞĚǁŚĞŶĂƉƉůŝĐĂďůĞ͘&ƵŶĚŝŶŐĂŶĚƌĞƐŽƵƌĐĞƐĂƌĞŶĞĞĚĞĚƚŽĨƵƌƚŚĞƌŝŵƉůĞŵĞŶƚƚŚŝƐƉƌŽŐƌĂŵ͘ EdhZ>Z
^KhZ
^;EZͿ
'ŽĂůϲ Ϯϴ KEͲ'K/E' ŽŶƐŝĚĞƌƉƌŽŐƌĂŵƐƚŚĂƚďĞŶĐŚŵĂƌŬ
ĂŶĚƐƵďͲŵĞƚĞƌĂůůŝƚLJĨĂĐŝůŝƚŝĞƐĂŶĚĂƵĚŝƚĞŶĞƌŐLJƵƐĂŐĞ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ &ƵŶĚŝŶŐĂŶĚƌĞƐŽƵƌĐĞƐ
ĂƌĞŶĞĞĚĞĚƚŽŝŵƉůĞŵĞŶƚƚŚŝƐƉƌŽŐƌĂŵ͘
EdhZ>Z
^KhZ
^;EZͿ
EZͲϲ͘Ϭϳ ϯϬ KEͲ'K/E' ZĞƐĞĂƌĐŚŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌWŽǁĞƌ
WƵƌĐŚĂƐĞŐƌĞĞŵĞŶƚƐ;WWƐͿĂŶĚ^ƵƐƚĂŝŶĂďůĞŽŵŵƵŶŝƚŝĞƐWƌŽŐƌĂŵ;^'Θ ͿĨŽƌƌĞŶĞǁĂďůĞƉŽǁĞƌŽŶŝƚLJĨĂĐŝůŝƚŝĞƐ͘
hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ ŝƚLJǁŝĚĞĞǀĂůƵĂƚŝŽŶŽĨ
ŽŵŵƵŶŝƚLJŚŽŝĐĞ
ŶĞƌŐLJŽƉƚŝŽŶƐŝƐďĞŝŶŐĐŽŶĚƵĐƚĞĚďLJƚŚĞŝƚLJDĂŶĂŐĞƌƐKĨĨŝĐĞ͘ EdhZ>Z
^KhZ
^;EZͿ
EZͲϲ͘Ϭϴ ϯϭ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽƉƌŽŵŽƚĞĞŶĞƌŐLJ
ĐŽŶƐĞƌǀĂƚŝŽŶĂŶĚĞĚƵĐĂƚĞƌĞƐŝĚĞŶƚƐŽŶďĞŶĞĨŝƚƐŽĨĞŶĞƌŐLJĞĨĨŝĐŝĞŶĐLJĂŶĚƐŽůĂƌƉŽǁĞƌŐĞŶĞƌĂƚŝŽŶ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ &ƵŶĚŝŶŐĂŶĚƌĞƐŽƵƌĐĞƐ
ƌĞƋƵŝƌĞĚƚŽŝŵƉůĞŵĞŶƚƚŚŝƐƉƌŽŐƌĂŵ͘
EdhZ>Z
^KhZ
^;EZͿ
EZͲϲ͘Ϭϳ ϯϮ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽƉƌŽŵŽƚĞƵƚŝůŝƚLJ
ƐƉŽŶƐŽƌĞĚƉƌŽŐƌĂŵƐĂŶĚƚƌĂŝŶŝŶŐĨŽƌŝƚLJƐƚĂĨĨ͕ůŽĐĂůďƵƐŝŶĞƐƐĞƐĂŶĚƌĞƐŝĚĞŶƚƐ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ DĞƚǁŝƚŚ^'Θ
ĂŶĚ
ĐŽŽƌĚŝŶĂƚĞĚǁŝƚŚƵƚŝůŝƚŝĞƐ͘

ATTACHMENT 3
121

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
EdhZ>Z
^KhZ
^;EZͿ
EZͲϲ͘Ϭϳ ϯϯ KEͲ'K/E' ƉƉƌŽĂĐŚ^'Θ
ĂďŽƵƚĨŽƌŵŝŶŐĂ
ůŽĐĂůŐŽǀĞƌŶŵĞŶƚƉĂƌƚŶĞƌƐŚŝƉƚŽĚĞǀĞůŽƉ͕ŽƉĞƌĂƚĞĂŶĚŵĂŝŶƚĂŝŶĞŶĞƌŐLJƌĞƐŽƵƌĐĞƐƵƐŝŶŐƐƵƐƚĂŝŶĂďůĞƉƌĂĐƚŝĐĞƐĂŶĚŵĂƚĞƌŝĂůƐ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ KŶŐŽŝŶŐƉĂƌƚŽĨƌŽƵƚŝŶĞ
ŵĂŝŶƚĞŶĂŶĐĞĂŶĚĐŽŶƐŝĚĞƌĞĚĂƐƉĂƌƚŽĨ/WĚĞƐŝŐŶĂŶĚŝŵƉůĞŵĞŶƚĂƚŝŽŶƉƌŽĐĞƐƐ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϯ͘ϬϮ͕W^&hͲϯ͘Ϭϯ
ϭϱ KEͲ'K/E' ŽůůĂďŽƌĂƚĞǁŝƚŚĂƌƚĂƐƐŽĐŝĂƚŝŽŶƐ͕
ŶŽŶͲƉƌŽĨŝƚƐ͕ďƵƐŝŶĞƐƐĞƐ͕ĞĚƵĐĂƚŝŽŶĂůŝŶƐƚŝƚƵƚŝŽŶƐĂŶĚƚŚĞƉƌŝǀĂƚĞƐĞĐƚŽƌƚŽƉƌŽǀŝĚĞŵŽƌĞŽƉƉŽƌƚƵŶŝƚŝĞƐĂŶĚǀĞŶƵĞƐĨŽƌĐƵůƚƵƌĂůĂƌƚƐƉƌŽŐƌĂŵƐ͕ŝŶĐůƵĚŝŶŐƚŚĞĞƐƚĂďůŝƐŚŵĞŶƚŽĨĂƉĞƌĨŽƌŵŝŶŐĂƌƚƐǀĞŶƵĞŝŶ^ĂŶůĞŵĞŶƚĞ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ /ŶϮϬϮϮϭ͕ƚŚĞŝƚLJ
ƐƵƉƉŽƌƚĞĚŵƵƌĂůƐ͕ƚŚĞsŝůůĂŐĞƌƚ&ĂŝƌĞ͕ĂŶĚƚŚĞtŽƌůĚ^ƵƌĨ>ĞĂŐƵĞĐŚĂŵƉŝŽŶƐŚŝƉ͘dŚĞŝƚLJ ŽƵŶĐŝůŵĞŵďĞƌƐĂƉƉŽŝŶƚĞĚƌĞƉƌĞƐĞŶƚĂƚŝǀĞƐƚŽĂŶĞdžƉůŽƌĂƚŽƌLJĂŵƉŚŝƚŚĞĂƚĞƌĐŝƚŝnjĞŶƐĐŽŵŵŝƚƚĞĞ͘ hƉĚĂƚĞĚŶŽƚĞƐŽŶƐƚĂƚƵƐ͘
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϭ͘Ϭϰ
Ϯ KEͲ'K/E' ŽŶƚŝŶƵĞĐŽŵŵƵŶŝĐĂƚŝŽŶĂŶĚ
ĐŽŽƉĞƌĂƚŝŽŶĞĨĨŽƌƚƐďĞƚǁĞĞŶŝƚLJŽĨĨŝĐŝĂůƐĂŶĚh^͕ĞƐƉĞĐŝĂůůLJŝŶƚŚĞĂƌĞĂƐŽĨƉŽƉƵůĂƚŝŽŶƉƌŽũĞĐƚŝŽŶƐ͕ƐĂĨĞƚLJĂŶĚƐĞĐƵƌŝƚLJ͕ĐŝƌĐƵůĂƚŝŽŶĂŶĚƉĞĚĞƐƚƌŝĂŶĞůĞŵĞŶƚƐ͕ĚĞǀĞůŽƉŵĞŶƚŽĨƐĐŚŽŽůƐĂŶĚĨƵŶĚŝŶŐƐŽƵƌĐĞƐ͕ĂŶĚŵŽŶŝƚŽƌŝŶŐŽĨĚĞǀĞůŽƉŵĞŶƚĂĐƚŝǀŝƚŝĞƐƚŽƉƌĞǀĞŶƚŽǀĞƌĐƌŽǁĚŝŶŐŽĨƐĐŚŽŽůƐĂŶĚŚĞůƉŵĞĞƚĨƵƚƵƌĞĞĚƵĐĂƚŝŽŶĂůŶĞĞĚƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘,ƵŵĂŶĨĨĂŝƌƐ
ŽŵŵŝƚƚĞĞ͕ĂŶĚWƵďůŝĐtŽƌŬƐʹ^ĂĨĞZŽƵƚĞƐϮ^ĐŚŽŽůƉƌŽŐƌĂŵ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϰ͘Ϭϭ
ϭϴ KEͲ'K/E' ŽŶƚŝŶƵĞĐŽŽƌĚŝŶĂƚŝŽŶĂŵŽŶŐƚŚĞ
ŝƚLJĂŶĚŽƚŚĞƌŚƵŵĂŶƐĞƌǀŝĐĞƐͲƌĞůĂƚĞĚĂŐĞŶĐŝĞƐĂŶĚŝŶƐƚŝƚƵƚŝŽŶƐ͕ďŽƚŚůŽĐĂůůLJĂŶĚƌĞŐŝŽŶĂůůLJ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘WƌŽĐĞƐƐĞĚ
ƚŚƌŽƵŐŚƚŚĞ,ƵŵĂŶĨĨĂŝƌƐŽŵŵŝƚƚĞĞ͘

ATTACHMENT 3
122

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϲ͘Ϭϯ͕W^&hͲϲ͘Ϭϰ
ϯϮ KEͲ'K/E' ZĞǀŝĞǁƐƚƌƵĐƚƵƌĞƐŝŶƚĞŶĚĞĚĨŽƌ
ŚƵŵĂŶŽĐĐƵƉĂŶĐLJůŽĐĂƚĞĚŝŶƚŚĞϭϬϬͲLJĞĂƌĨůŽŽĚƉůĂŝŶĨŽƌĐŽŶĨŽƌŵĂŶĐĞǁŝƚŚůŽĐĂů͕^ƚĂƚĞĂŶĚ&ĞĚĞƌĂů;& DͿƌĞƋƵŝƌĞŵĞŶƚƐ͘
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘WƌŽũĞĐƚƐĂƌĞ
ƌĞǀŝĞǁĞĚƚŚƌŽƵŐŚƚŚĞƉĞƌŵŝƚƚŝŶŐƉƌŽĐĞƐƐĨŽƌĐŽŵƉůŝĂŶĐĞǁŝƚŚŐƌĂĚŝŶŐĂŶĚŚĞĂůƚŚĂŶĚƐĂĨĞƚLJďƵŝůĚŝŶŐĐŽĚĞƐ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϯ͘Ϭϰ
ϭϰ KEͲ'K/E' /ŶĐŽƌƉŽƌĂƚĞƵŶŝƋƵĞƉƵďůŝĐĂƌƚŝŶ
ƉƵďůŝĐŝŵƉƌŽǀĞŵĞŶƚƐƐƵĐŚĂƐƐƚƌĞĞƚůŝŐŚƚŝŶŐ͕ƐŝĚĞǁĂůŬƐ͕ǁĂůůƐ͕ďƌŝĚŐĞƐĂŶĚƉƵďůŝĐďƵŝůĚŝŶŐƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘tŽƌŬǁŝƚŚƐƚĂĨĨ
ĨƌŽŵWƵďůŝĐtŽƌŬƐĂŶĚĞĂĐŚĞƐ͕WĂƌŬƐ͕ĂŶĚZĞĐƌĞĂƚŝŽŶƚŽĂĚĚƉƵďůŝĐĂƌƚǁŚĞŶŽƉƉŽƌƚƵŶŝƚŝĞƐĂƌŝƐĞ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϭ͘Ϭϰ
Ϯ KEͲ'K/E' ŽŶƚŝŶƵĞĐŽŵŵƵŶŝĐĂƚŝŽŶĂŶĚ
ĐŽŽƉĞƌĂƚŝŽŶĞĨĨŽƌƚƐďĞƚǁĞĞŶŝƚLJŽĨĨŝĐŝĂůƐĂŶĚh^͕ĞƐƉĞĐŝĂůůLJŝŶƚŚĞĂƌĞĂƐŽĨƉŽƉƵůĂƚŝŽŶƉƌŽũĞĐƚŝŽŶƐ͕ƐĂĨĞƚLJĂŶĚƐĞĐƵƌŝƚLJ͕ĐŝƌĐƵůĂƚŝŽŶĂŶĚƉĞĚĞƐƚƌŝĂŶĞůĞŵĞŶƚƐ͕ĚĞǀĞůŽƉŵĞŶƚŽĨƐĐŚŽŽůƐĂŶĚĨƵŶĚŝŶŐƐŽƵƌĐĞƐ͕ĂŶĚŵŽŶŝƚŽƌŝŶŐŽĨĚĞǀĞůŽƉŵĞŶƚĂĐƚŝǀŝƚŝĞƐƚŽƉƌĞǀĞŶƚŽǀĞƌĐƌŽǁĚŝŶŐŽĨƐĐŚŽŽůƐĂŶĚŚĞůƉŵĞĞƚĨƵƚƵƌĞĞĚƵĐĂƚŝŽŶĂůŶĞĞĚƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚͬWƵďůŝĐtŽƌŬƐ
KŶͲŐŽŝŶŐ KŶͲ'ŽŝŶŐ͗,ƵŵĂŶĨĨĂŝƌƐ
ŽŵŵŝƚƚĞĞ WƵďůŝĐ^ĂĨĞƚLJŽŵŵŝƚƚĞĞĂŶĚWƵďůŝĐ
tŽƌŬƐʹ^ĂĨĞZŽƵƚĞƐϮ^ĐŚŽŽůƉƌŽŐƌĂŵ
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϲ͘Ϭϭ
ϯϬ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽƉƌĞƉĂƌĞϱͲLJĞĂƌĂƉŝƚĂů
/ŵƉƌŽǀĞŵĞŶƚWƌŽŐƌĂŵƐĨŽƌƚŚĞŝƚLJ͛ƐƐƚŽƌŵĚƌĂŝŶĂŐĞƐLJƐƚĞŵ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ

ATTACHMENT 3
123

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϵ͘Ϭϯ
ϰϬ KEͲ'K/E' hƉŐƌĂĚĞŝƚLJĨĂĐŝůŝƚŝĞƐďLJŝŶƐƚĂůůŝŶŐ
ĞŶĞƌŐLJͲĞĨĨŝĐŝĞŶƚůŝŐŚƚŝŶŐǁŚĞƌĞĨĞĂƐŝďůĞ͕ƵƉŐƌĂĚŝŶŐŝƚLJĨĂĐŝůŝƚŝĞƐǁŝƚŚ ŶĞƌŐLJ^ƚĂƌŽƌĞƋƵŝǀĂůĞŶƚĨĂĐŝůŝƚŝĞƐ͕ƵƉĚĂƚŝŶŐ,sƐLJƐƚĞŵƐĂŶĚĞƐƚĂďůŝƐŚŝŶŐƐŚƵƚͲŽĨĨƚŝŵĞƐ͕ŽĐĐƵƉĂŶĐLJͲƐĞŶƐŝŶŐůŝŐŚƚŝŶŐĐŽŶƚƌŽůƐ͕ƉƌŽŐƌĂŵŵĂďůĞƚŚĞƌŵŽƐƚĂƚƐĂŶĚǀĂƌŝĂďůĞƐƉĞĞĚĚƌŝǀĞŵŽƚŽƌƐŝŶŝƚLJǁĂƚĞƌĂŶĚƐĞǁĞƌƉƵŵƉŝŶŐƐƚĂƚŝŽŶƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ &ƵŶĚŝŶŐ>ŝŵŝƚĂƚŝŽŶƐ͗ ZĞǀŝĞǁĐŝƚLJƉƌŽũĞĐƚƐĂƐƚŚĞLJŽĐĐƵƌĨŽƌƵƉŐƌĂĚĞƐ͘
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϵ͘Ϭϯ
ϰϮ KEͲ'K/E' tŚĞƌĞĂƉƉƌŽƉƌŝĂƚĞĂŶĚĨĞĂƐŝďůĞ͕
ŝŶƐƚĂůůƐŽůĂƌͲƉŽǁĞƌĞĚƐƚƌĞĞƚƌĂĚĂƌƐŝŐŶƐ͘
WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ &ƵŶĚŝŶŐ>ŝŵŝƚĂƚŝŽŶƐͲ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϵ͘Ϭϵ
ϰϱ KEͲ'K/E' WƵƌƐƵĞŐƌĂŶƚĨƵŶĚŝŶŐĂŶĚŽƚŚĞƌ
ĨŝŶĂŶĐŝĂůƌĞƐŽƵƌĐĞƐƚŽŽĨĨƐĞƚƚŚĞƉƵďůŝĐĐŽƐƚŽĨĞŶĞƌŐLJƌĞƚƌŽĨŝƚƐƚŽĞdžŝƐƚŝŶŐŝƚLJĨĂĐŝůŝƚŝĞƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐͲ ZĞǀŝĞǁĞĚďLJWƵďůŝĐtŽƌŬƐ͕ĂŶĚhƚŝůŝƚLJĞƉĂƌƚŵĞŶƚƐ͘
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϴ͘Ϭϱ
ϯϳ KEͲ'K/E' ŽŶƚŝŶƵĞƵƐŝŶŐƌƵďďĞƌŝnjĞĚĂƐƉŚĂůƚ
ĂŶĚƌĞĐLJĐůĞĚĂŐŐƌĞŐĂƚĞĨŽƌŝƚLJƐƚƌĞĞƚƉƌŽũĞĐƚƐ͕ĂƐĂƉƉƌŽƉƌŝĂƚĞ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ  KŶͲ'ŽŝŶŐ͗tŚĞƌĞ
ĂƉƉƌŽƉƌŝĂƚĞ͕ŝƚLJƵƐĞƐƌƵďďĞƌŝnjĞĚĂƐƉŚĂůƚĨŽƌƐƚƌĞĞƚƌĞŚĂďŝůŝƚĂƚŝŽŶƉƌŽũĞĐƚƐWƵďůŝĐtŽƌŬƐ ŵĂŝŶƚĂŝŶƐĂŶĚƌĞƉůĂĐĞƐĐŝƚLJƐƚƌĞĞƚƐ͘

ATTACHMENT 3
124

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲ'ŽĂůϱ
Ϯϭ KEͲ'K/E' ^ƚƵĚLJĨĞĂƐŝďŝůŝƚLJĂŶĚĞĨĨĞĐƚŝǀĞŶĞƐƐŽĨ
ŶĞǁƚĞĐŚŶŽůŽŐŝĞƐƚŽƌĞĚƵĐĞƚŚĞƵƐĞŽĨĐŚĞŵŝĐĂůƐĂƚƚŚĞǁĂƚĞƌƚƌĞĂƚŵĞŶƚƉůĂŶƚ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ dŚŝƐŝƐĂŶŽŶŐŽŝŶŐ
ĂĐƚŝǀŝƚLJ͕ĂƐƚƵĚLJďLJdƌƵƐƐĞůů
ŶŐŝŶĞĞƌƐǁŝůůďĞĐŽŵƉůĞƚĞĚŝŶ&zϮϬϮϭ͘ĂƐĞĚŽŶƚŚĞƐƚƵĚLJĂŶĚƐƚĂĨĨƌĞǀŝĞǁŽĨƉƌŽĐĞƐƐĞƐ͕ƚŚĞƌĞŚĂǀĞďĞĞŶƌĞĚƵĐƚŝŽŶƐŝŶ&ĞƌƌŝĐĂŶĚ^ŽĚŝƵŵ,LJƉŽĐŚůŽƌŝƚĞƵƐĞĨŽƌƚƌĞĂƚŵĞŶƚ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϱ͘Ϭϴ
Ϯϯ KEͲ'K/E'
džƉĂŶĚůŽĐĂůǁĂƚĞƌƌĞĐLJĐůŝŶŐ
ĐĂƉĂďŝůŝƚŝĞƐ͘
hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ WĂƌƚŝĐŝƉĂƚŝŶŐŝŶƌĞŐŝŽŶĂů
ƐƚƵĚLJĂŶĚĚĞƐŝŐŶŝŶŐĞdžƉĂŶƐŝŽŶŽĨƚŚĞƐLJƐƚĞŵ͘
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϱ͘Ϭϱ
Ϯϰ KEͲ'K/E'
džƉůŽƌĞƚŚĞĨĞĂƐŝďŝůŝƚLJŽĨ
ĚĞƐĂůŝŶŝnjĂƚŝŽŶĂŶĚŽƚŚĞƌƌĞŐŝŽŶĂůƉƌŽũĞĐƚƐĂƐĂŶĂůƚĞƌŶĂƚŝǀĞƌĞƐŽƵƌĐĞƚŽƌĞĚƵĐĞƚŚĞŝƚLJ͛ƐĚĞƉĞŶĚĞŶĐLJŽŶŝŵƉŽƌƚĞĚǁĂƚĞƌ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ WůĂŶŝƐƵƉĚĂƚĞĚĂƐ
ŶĞĞĚĞĚ͘^ŽƵƚŚŽĂƐƚtĂƚĞƌŝƐƚƌŝĐƚŝƐƉƌŽƉŽƐŝŶŐĂϱD'ĚĞƐĂůŝŶĂƚŝŽŶƉůĂŶƚĂƚŽŚĞŶLJĞĂĐŚĂŶĚŝƐůŽŽŬŝŶŐĨŽƌƉĂƌƚŝĐŝƉĂŶƚƐ͘ ^ŽƵƚŚŽĂƐƚtĂƚĞƌŝƐƚƌŝĐƚŚĂƐĨŝŶĂůŝnjĞĚĂƐƚƵĚLJĂŶĚŝƐƐĞĞŬŝŶŐƉĂƌƚŝĐŝƉĂŶƚƐ͘

ATTACHMENT 3
125

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϱ͘Ϭϲ
Ϯϱ KEͲ'K/E' DĂŝŶƚĂŝŶĂŶĚƵƉĚĂƚĞƚŚĞŝƚLJ͛Ɛ
hƌďĂŶtĂƚĞƌDĂŶĂŐĞŵĞŶƚWůĂŶ͕ĂƐŶĞĞĚĞĚ͕ĂŶĚŝŵƉůĞŵĞŶƚĂŶĚĞŶĨŽƌĐĞƚŚĞǁĂƚĞƌĐŽŶƐĞƌǀĂƚŝŽŶŽƌĚŝŶĂŶĐĞ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ hƌďĂŶtĂƚĞƌ
DĂŶĂŐĞŵĞŶƚWůĂŶŝƐƵƉĚĂƚĞĚĞǀĞƌLJĨŝǀĞLJĞĂƌƐ;ƌĞƋƵŝƌĞĚŝŶϮϬϮϭͿ͘KƵƚƌĞĂĐŚŝƐĐŽŵƉůĞƚĞĚĂƐƉĂƌƚŽĨƚŚĞŝƚLJ͛ƐtĂƚĞƌŽŶƐĞƌǀĂƚŝŽŶWƌŽŐƌĂŵ͘ϮϬϮϭhƌďĂŶtĂƚĞƌDĂƐƚĞƌWůĂŶǁĂƐĐŽŵƉůĞƚĞĚ͘ dŚĞƉůĂŶǁĂƐĐŽŵƉůĞƚĞĚĂŶĚƉƌĞƐĞŶƚĞĚƚŽƚŚĞŝƚLJŽƵŶĐŝůƚŚƌŽƵŐŚĂƉƵďůŝĐŚĞĂƌŝŶŐƉƌŽĐĞƐƐ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϱ͘Ϭϳ
Ϯϴ KEͲ'K/E' ŽŶƚŝŶƵĞƉƌŽǀŝĚŝŶŐĞĚƵĐĂƚŝŽŶĂŶĚ
ĐŽŵŵƵŶŝƚLJŽƵƚƌĞĂĐŚŽŶǁĂƚĞƌĐŽŶƐĞƌǀĂƚŝŽŶŽƉƚŝŽŶƐĂŶĚŵĞƚŚŽĚƐ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ WĂƌƚŽĨƌĞŐƵůĂƌ
ŽƉĞƌĂƚŝŽŶƐ͘
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϲ͘Ϭϳ
ϯϭ KEͲ'K/E' ZĞǀŝĞǁĂŶĚĂŵĞŶĚĂƐŶĞĐĞƐƐĂƌLJĂŶĚ
ĂƉƉƌŽƉƌŝĂƚĞ͕ĚƌĂŝŶĂŐĞŝŵƉĂĐƚĨĞĞƐĐŽůůĞĐƚĞĚĨƌŽŵŶĞǁĚĞǀĞůŽƉŵĞŶƚĨŽƌƚŚĞĐŽŶƐƚƌƵĐƚŝŽŶŽĨŶĞǁĚƌĂŝŶĂŐĞĨĂĐŝůŝƚŝĞƐŶĞĐĞƐƐŝƚĂƚĞĚďLJƚŚĞŶĞǁĚĞǀĞůŽƉŵĞŶƚ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ ŽŶƐŝĚĞƌĨĞĞĂĚũƵƐƚŵĞŶƚ
ĨŽůůŽǁŝŶŐƚŚĞĐŽŵƉůĞƚŝŽŶŽĨƌĂŝŶĂŐĞDĂƐƚĞƌWůĂŶ͘
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϳ͘Ϭϭ
ϯϯ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽŝŵƉůĞŵĞŶƚƚŚĞůĞĂŶ
KĐĞĂŶWƌŽŐƌĂŵĂŶĚ^ƚŽƌŵǁĂƚĞƌ>ŽĐĂů/ŵƉůĞŵĞŶƚĂƚŝŽŶWůĂŶƚŽƉƌŽƚĞĐƚůŽĐĂůƐƵƌĨĂĐĞǁĂƚĞƌƋƵĂůŝƚLJĂŶĚŵĞĞƚŽƌĞdžĐĞĞĚĂƉƉůŝĐĂďůĞƌĞŐŝŽŶĂů͕ƐƚĂƚĞĂŶĚĨĞĚĞƌĂůƌĞƋƵŝƌĞŵĞŶƚƐ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ ^ƚĂĨĨĞŶĨŽƌĐŝŶŐǁĂƚĞƌ
ƋƵĂůŝƚLJƌƵŶͲŽĨĨƐƚĂŶĚĂƌĚƐ͘ůĞĂŶKĐĞĂŶWƌŽŐƌĂŵƐƵŶƐĞƚĞĚŝŶ:ƵŶĞϮϬϮϬ͘&ĞĞƌĞŶĞǁĂůǀŽƚĞĂŶƚŝĐŝƉĂƚĞĚŝŶϮϬϮϮ͘ ZĂƚĞĂŶĂůLJƐŝƐĂůŽŶŐǁŝƚŚƉƌŽŐƌĂŵŶĞĞĚƐŝƐƵŶĚĞƌĞǀĂůƵĂƚŝŽŶ͘

ATTACHMENT 3
126

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϴ͘ϭϬ
ϯϴ KEͲ'K/E' ĐŚŝĞǀĞƐƚĂƚĞƐŽůŝĚǁĂƐƚĞ
ƌĞƋƵŝƌĞŵĞŶƚƐŝŶĐůƵĚŝŶŐďƵƚŶŽƚůŝŵŝƚĞĚƚŽĂŵŝŶŝŵƵŵĐŽŶƐƚƌƵĐƚŝŽŶĂŶĚĚĞŵŽůŝƚŝŽŶǁĂƐƚĞĚŝǀĞƌƐŝŽŶƌĞƋƵŝƌĞŵĞŶƚŽĨϳϱƉĞƌĐĞŶƚ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ hƉŐƌĂĚĞƐĐŽŵƉůĞƚĞĚŝŶ
ϮϬϭϲĂŶĚŽŶĂŶŽŶŐŽŝŶŐďĂƐŝƐ͘
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϱ͘Ϭϵ
Ϯϳ KEͲ'K/E' ŽŵƉůĞƚĞǁĂƚĞƌĞĨĨŝĐŝĞŶĐLJƵƐĞ
ƐƵƌǀĞLJƐŽĨĂůůŝƚLJĨĂĐŝůŝƚŝĞƐ͘
hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ KŶŐŽŝŶŐĂĐƚŝǀŝƚLJ
ĂĚŵŝŶŝƐƚĞƌĞĚďLJhƚŝůŝƚŝĞƐĂŶĚWƵďůŝĐtŽƌŬƐDĂŝŶƚĞŶĂŶĐĞ
^&
dz;^Ϳ ^Ͳϯ͘Ϭϯ ϳ KEͲ'K/E' WĂƌƚŶĞƌǁŝƚŚKƌĂŶŐĞŽƵŶƚLJ&ŝƌĞ ƵƚŚŽƌŝƚLJƚŽƉƵƌƐƵĞŐƌĂŶƚĂŶĚŽƚŚĞƌĨƵŶĚŝŶŐŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌĂƉƉƌŽƉƌŝĂƚĞ&ŝƌĞĂŶĚ ŵĞƌŐĞŶĐLJDĞĚŝĐĂů^ĞƌǀŝĐĞƐŵĞĂƐƵƌĞƐ͕ƐƚĂĨĨŝŶŐ͕ĂŶĚĨĂĐŝůŝƚŝĞƐ͕ĂŶĚƚŽƐƵƉƉŽƌƚǁŝůĚĨŝƌĞŵŝƚŝŐĂƚŝŽŶĞĨĨŽƌƚƐŝŶƚŚĞŝƚLJĂŶĚŝŶƐƵƌƌŽƵŶĚŝŶŐŽƉĞŶƐƉĂĐĞĂƌĞĂƐƐƵĐŚĂƐƚŚĞZŝĐŚĂƌĚĂŶĚŽŶŶĂK͛EĞŝůůŽŶƐĞƌǀĂŶĐLJĂŶĚ^ĂŶKŶŽĨƌĞ^ƚĂƚĞĞĂĐŚ͘ ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐǁŝƚŚŝƚLJƐƚĂĨĨ
ĂŶĚK&͘
^&
dz;^Ϳ ^Ͳϳ͘Ϭϰ ϮϬ KEͲ'K/E' /ŶĨŽƌŵĂƚŝŽŶdĞĐŚŶŽůŽŐLJƐƚĂĨĨǁŝůů ƉĞƌŝŽĚŝĐĂůůLJƌĞǀŝĞǁĂŶĚƵƉĚĂƚĞĂŶĞŵĞƌŐĞŶĐLJƉƌĞƉĂƌĞĚŶĞƐƐĂŶĚƌĞƐƉŽŶƐĞƉůĂŶŝŶƚŽŽǀĞƌĂůůŝƚLJ ŵĞƌŐĞŶĐLJZĞƐƉŽŶƐĞWůĂŶ͘
ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ dŚĞŝƚLJ͛Ɛ
ŵĞƌŐĞŶĐLJ
WůĂŶŶŝŶŐǁĞďƉĂŐĞĐŽŶƚŝŶƵĞƐƚŽďĞƵƉĚĂƚĞĚƌĞŐƵůĂƌůLJĂŶĚŝŶĐůƵĚĞƐŽǀŝĚͲϭϵƵƉĚĂƚĞƐ͘ ^&
dz;^Ϳ ^Ͳϳ͘Ϭϭ Ϯϰ KEͲ'K/E' ^ƵƉƉŽƌƚĂŶĚŵĂŝŶƚĂŝŶĂŶĐƚŝǀĞ ŵďƵůĂŶĐĞ^ƵďƐĐƌŝƉƚŝŽŶ^ĞƌǀŝĐĞ͘
ŝƚLJDĂŶĂŐĞƌ KŶͲŐŽŝŶŐ /ŵƉůĞŵĞŶƚĞĚĂŶĚŽŶͲ
ŐŽŝŶŐ͘

ATTACHMENT 3
127

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
^&
dz;^Ϳ ^Ͳϭ͘ϬϮ Ϯ KEͲ'K/E' ZĞǀŝĞǁĂŶĚƵƉĚĂƚĞďƵŝůĚŝŶŐ͕njŽŶŝŶŐ͕ ĂŶĚŐƌĂĚŝŶŐĐŽĚĞƐƚŽĞŶƐƵƌĞĂĚŽƉƚĞĚƐƚĂŶĚĂƌĚƐĂƌĞĂƉƉƌŽƉƌŝĂƚĞƚŽŵŝƚŝŐĂƚĞƉŽƚĞŶƚŝĂůŐĞŽůŽŐŝĐ͕ƐĞŝƐŵŝĐ͕ƐŽŝůƐ͕ĨůŽŽĚŝŶŐ͕ĂŶĚŶŽŝƐĞŚĂnjĂƌĚƐ͕ĂŶĚǁŽƵůĚĐŽŵƉůLJǁŝƚŚƚŚĞůƋƵŝƐƚͲWƌŝŽůŽĐƚŝĨĂŶĂĐƚŝǀĞĨĂƵůƚǁĞƌĞŝĚĞŶƚŝĨŝĞĚŝŶƚŚĞŝƚLJ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘WƌŽũĞĐƚƐĂƌĞ
ƌĞǀŝĞǁĞĚƚŚƌŽƵŐŚƚŚĞƉĞƌŵŝƚƚŝŶŐƉƌŽĐĞƐƐĨŽƌĐŽŵƉůŝĂŶĐĞǁŝƚŚŐƌĂĚŝŶŐĂŶĚŚĞĂůƚŚĂŶĚƐĂĨĞƚLJďƵŝůĚŝŶŐĐŽĚĞƐ͘ ^&
dz;^Ϳ ^Ͳϭ͘Ϭϯ ϯ KEͲ'K/E'
ŶĐŽƵƌĂŐĞƉƵďůŝĐĂŶĚƉƌŝǀĂƚĞĞŶƚŝƚŝĞƐ
ƚŽĞŶƐƵƌĞƚŚĂƚďƵŝůĚŝŶŐƐŚŽƵƐŝŶŐĐƌŝƚŝĐĂůƉƵďůŝĐĨĂĐŝůŝƚŝĞƐ͕ƐƵĐŚĂƐƐĐŚŽŽůƐ͕ŚŽƐƉŝƚĂůƐĂŶĚĞŵĞƌŐĞŶĐLJƐĞƌǀŝĐĞƐ͕ĂƌĞƐĞŝƐŵŝĐĂůůLJƐƚƌĞŶŐƚŚĞŶĞĚƚŽŵĞĞƚĂƉƉůŝĐĂďůĞďƵŝůĚŝŶŐĐŽĚĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘WƌŽũĞĐƚƐĂƌĞ
ƌĞǀŝĞǁĞĚƚŚƌŽƵŐŚƚŚĞƉĞƌŵŝƚƚŝŶŐƉƌŽĐĞƐƐĨŽƌĐŽŵƉůŝĂŶĐĞǁŝƚŚŐƌĂĚŝŶŐĂŶĚŚĞĂůƚŚĂŶĚƐĂĨĞƚLJďƵŝůĚŝŶŐĐŽĚĞƐ͘ ^&
dz;^Ϳ ^Ͳϯ͘ϬϮ ϲ KEͲ'K/E' KďƚĂŝŶĂŶĚŵĂŝŶƚĂŝŶŝŶĨŽƌŵĂƚŝŽŶŽŶ ĨŝƌĞĂŶĚǁŝůĚĨŝƌĞŚĂnjĂƌĚƐĂŶĚŚŽŵĞ͕ďƵƐŝŶĞƐƐ͕ĂŶĚŽƉĞŶƐƉĂĐĞĨŝƌĞŵŝƚŝŐĂƚŝŽŶŵĞĂƐƵƌĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘
^&
dz;^Ϳ ^Ͳϰ͘Ϭϭ ϴ KEͲ'K/E' ZĞǀŝĞǁƚŚĞ
džŝƐƚŝŶŐĂŶĚ&ƵƚƵƌĞEŽŝƐĞ
ŽŶƚŽƵƌDĂƉƐĂŶĚEŽŝƐĞKƌĚŝŶĂŶĐĞĨŽƌĂƉƉůŝĐĂďŝůŝƚLJƚŽĞĂĐŚĚĞǀĞůŽƉŵĞŶƚƉƌŽũĞĐƚƚŽŝĚĞŶƚŝĨLJƉŽƚĞŶƚŝĂůŝŵƉĂĐƚƐƚŽƐĞŶƐŝƚŝǀĞƵƐĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ ZĞǀŝĞǁĞĚĚƵƌŝŶŐDd
ƉƌŽĐĞƐƐ͕ǁŚĞŶĂƉƉůŝĐĂďůĞ͘
^&
dz;^Ϳ ^Ͳϰ͘Ϭϰ ϭϬ KEͲ'K/E' tŽƌŬŝŶŐǁŝƚŚŽƚŚĞƌĂŐĞŶĐŝĞƐĂŶĚ ƉƌŽƉĞƌƚLJŽǁŶĞƌƐ͕ƚŚĞŝƚLJǁŝůůƐĞĞŬƚŽƌĞͲĞƐƚĂďůŝƐŚŽĐĞĂŶǀŝĞǁƐďůŽĐŬĞĚďLJŶŽŝƐĞďĂƌƌŝĞƌƐ͕ǁŚĞƌĞĨĞĂƐŝďůĞ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘

ATTACHMENT 3
128

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
^&
dz;^Ϳ ϭϮ KEͲ'K/E' ƐƉĂƌƚŽĨĂůĂƌŐĞƌƌĞŐŝŽŶĂůĞĨĨŽƌƚ͕ ŝŵƉƌŽǀĞƐĂĨĞƚLJŝŶƚŚĞYƵŝĞƚŽŶĞďLJƵƐŝŶŐƚĂƌŐĞƚĞĚĂŶĚĚŝƌĞĐƚĞĚŵĞĂƐƵƌĞƐƚŽƌĞĚƵĐĞŶŽŝƐĞƚŽǁŝƚŚŝŶĂĐĐĞƉƚĂďůĞ'ĞŶĞƌĂůWůĂŶůĞǀĞůƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘YƵŝĞƚŽŶĞ
ƐĂĨĞƚLJŵĞĂƐƵƌĞƐĂŶĚƉĞƌŵŝƚƚŝŶŐƉƵƌƐƵĞĚǁŝƚŚWƵďůŝĐtŽƌŬƐĂŶĚŽƚŚĞƌĂŐĞŶĐŝĞƐĂƐĚŝƌĞĐƚĞĚďLJŽƵŶĐŝů͘ ^&
dz;^Ϳ ^Ͳϳ͘ϬϮ ϭϵď KEͲ'K/E' WƵƌƐƵĞĞŵĞƌŐĞŶĐLJƐĞƌǀŝĐĞƐŐƌĂŶƚƐ ĂŶĚŽƚŚĞƌĨƵŶĚŝŶŐŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌDĂƌŝŶĞ^ĂĨĞƚLJƐƚĂĨĨŝŶŐ͕ĨĂĐŝůŝƚŝĞƐ͕ƚƌĂŝŶŝŶŐ͕ĂŶĚƉƌŽŐƌĂŵƐ͘ WƵďůŝĐ^ĂĨĞƚLJ KŶͲŐŽŝŶŐ &zϮϬϮϮƉƵƌƐƵĞĚĂŶĚ
ŽďƚĂŝŶĞĚŽǀĞƌΨϭϴ͕ϬϬϬŝŶŐƌĂŶƚƐĂŶĚĨƵŶĚŝŶŐĨŽƌƚƌĂŝŶŝŶŐĨŽƌƚŚĞůŝĨĞŐƵĂƌĚƐĂŶĚ:ƵŶŝŽƌ>ŝĨĞŐƵĂƌĚƉƌŽŐƌĂŵƐ͘'ƌĂŶƚƐĂŶĚĨƵŶĚŝŶŐŚĂǀĞďĞĞŶƌĞĐĞŝǀĞĚĨƌŽŵƚŚĞ^ĂŶůĞŵĞŶƚĞKĐĞĂŶ&ĞƐƚŝǀĂů;ΨϮ͕ϬϬϬͿ͕ƚŚĞ^ĂŶůĞŵĞŶƚĞ>ŝĨĞŐƵĂƌĚĂŶĚ:ƵŶŝŽƌ>ŝĨĞŐƵĂƌĚ&ŽƵŶĚĂƚŝŽŶ;ΨϭϬ͕ϱϮϱͿ͕^ĂŶůĞŵĞŶƚĞtŽŵĞŶ͛ƐůƵď;ΨϯϴϬϬͿĂŶĚZĂŶĐŚŽ^ĂŶƚŝĂŐŽŽůůĞŐĞ;ΨϭϵϬϬͿ͘dŚĞƐĞĂƌĞĂŶŶƵĂůŐƌĂŶƚƐĂŶĚĨƵŶĚŝŶŐŽƉƉŽƌƚƵŶŝƚŝĞƐǁŚŝĐŚǁŝůůďĞƉƵƌƐƵĞĚĂŐĂŝŶŝŶ&zϮϬϮϯ͘

ATTACHMENT 3
129

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
^&
dz;^Ϳ ^Ͳϭ͘Ϭϭ ϭ KEͲ'K/E' tŚĞŶĨĞĂƐŝďůĞ͕ŵĂŬĞŝŶĨŽƌŵĂƚŝŽŶŽŶ ĨĂƵůƚůŽĐĂƚŝŽŶƐ͕ƐŽŝůŚĂnjĂƌĚƐĂŶĚĂƌĞĂƐŽĨůĂŶĚƐůŝĚĞŽƌůŝƋƵĞĨĂĐƚŝŽŶƉƵďůŝĐůLJĂǀĂŝůĂďůĞ͕ŽŶƌĞƋƵĞƐƚ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ
^&
dz;^Ϳ ^ͲϮ͘Ϭϰ͕^Ͳ
Ϯ͘Ϭϱ͕^ͲϮ͘Ϭϲ
ϰ KEͲ'K/E' ZĞǀŝĞǁĂŶĚƵƉĚĂƚĞĚƌĂŝŶĂŐĞĂŶĚ
ǁĂƚĞƌƌĞƚĞŶƚŝŽŶƐƚƵĚŝĞƐĂŶĚŝŵƉƌŽǀĞŵĞŶƚƉůĂŶƐƚŽŝŶĐŽƌƉŽƌĂƚĞĂƉƉƌŽƉƌŝĂƚĞďĞƐƚƉƌĂĐƚŝĐĞƐĂŶĚ&ĞĚĞƌĂů͕^ƚĂƚĞ͕ĂŶĚŽƵŶƚLJĨůŽŽĚĐŽŶƚƌŽůƌĞŐƵůĂƚŝŽŶƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ  KŶͲŐŽŝŶŐ͗ZĞǀŝĞǁŝŶŐĂŶĚ
ƵƉĚĂƚŝŶŐĚƌĂŝŶĂŐĞĂŶĚǁĂƚĞƌƌĞƚĞŶƚŝŽŶƐƚƵĚŝĞƐĂŶĚŝŵƉƌŽǀĞŵĞŶƚƉůĂŶƐ͘ ^&
dz;^Ϳ ^Ͳϰ͘ϬϮͲϬϯ ϵ KEͲ'K/E' tŽƌŬǁŝƚŚůŽĐĂů͕^ƚĂƚĞĂŶĚ&ĞĚĞƌĂů ĂŐĞŶĐŝĞƐƚŽƌĞĚƵĐĞŚŝŐŚǁĂLJͲŐĞŶĞƌĂƚĞĚŶŽŝƐĞůĞǀĞůƐƚŽǁŝƚŚŝŶĂĐĐĞƉƚĂďůĞ'ĞŶĞƌĂůWůĂŶůĞǀĞůƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͗KŶͲŐŽŝŶŐ
ƌĞƋƵĞƐƚŽĨĂůůĂůdƌĂŶƐƉƌŽũĞĐƚƐ͘
^&
dz;^Ϳ ^Ͳϰ͘Ϭϲ ϭϭ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽƵƐĞĂƉƌŽŐƌĂŵŽĨƚƌƵĐŬ ƉƌŽŚŝďŝƚŝŽŶƐ͕ŝŶĐůƵĚŝŶŐĂƉƉƌŽƉƌŝĂƚĞƐŝŐŶĂŐĞ͕ƚŽŵŝŶŝŵŝnjĞƚƌƵĐŬƚƌĂĨĨŝĐŶŽŝƐĞŝŵƉĂĐƚƐƚŽƐĞŶƐŝƚŝǀĞůĂŶĚƵƐĞƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ  KŶͲŐŽŝŶŐ
^&
dz;^Ϳ ^Ͳϱ͘Ϭϭ ϭϰ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽĐŽůůĞĐƚĂŶĚĚŝƐƐĞŵŝŶĂƚĞ ŝŶĨŽƌŵĂƚŝŽŶƌĞůĂƚŝŶŐƚŽĂůůŚĂnjĂƌĚƐ͕ĂƐǁĞůůĂƐƚŽƌĂĚŝŽůŽŐŝĐĂůŚĂnjĂƌĚƐƉƌĞƉĂƌĞĚŶĞƐƐ͕ƌĞƐƉŽŶƐĞ͕ĂŶĚƌĞĐŽǀĞƌLJĨŽƌ^KE'^͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͗KĐĐƵƌƐǀŝĂ
ĞŵĞƌŐĞŶĐLJƉůĂŶŶŝŶŐĞĨĨŽƌƚƐ͘

ATTACHMENT 3
130

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
^&
dz;^Ϳ ϭϲ KEͲ'K/E' ZĞŐƵůĂƌůLJƌĞǀŝĞǁĂŶĚƵƉĚĂƚĞ͕
ĞdžĞƌĐŝƐĞĂŶĚƌĞǀŝƐĞƚŚĞ^ĂŶůĞŵĞŶƚĞDƵůƚŝͲ,ĂnjĂƌĚ
ŵĞƌŐĞŶĐLJWůĂŶǁŝƚŚĂƉƉƌŽƉƌŝĂƚĞďĞƐƚƉƌĂĐƚŝĐĞƐƌĞůĂƚĞĚƚŽƚŚĞĐŽŵŵƵŶŝƚLJ͛ƐŶĂƚƵƌĂůĂŶĚŚƵŵĂŶͲŵĂĚĞŚĂnjĂƌĚƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲ'ŽŝŶŐ͗KĐĐƵƌƐǀŝĂ
ĞŵĞƌŐĞŶĐLJƉůĂŶŶŝŶŐĞĨĨŽƌƚƐ͘
^&
dz;^Ϳ ^Ͳϳ͘Ϭϭ ϭϳ KEͲ'K/E'
džƉůŽƌĞƚŚĞƐŝƚŝŶŐĂŶĚƐƚƌƵĐƚƵƌĂů
ŝŶƚĞŐƌŝƚLJŽĨƚŚĞŝƚLJ͛ƐĐƌŝƚŝĐĂůĨĂĐŝůŝƚŝĞƐƚŽŝĚĞŶƚŝĨLJĂŶĚƉůĂŶƚŽŵŝƚŝŐĂƚĞĂŶLJƉŽƚĞŶƚŝĂůĚĞĨĞĐƚƐƌĞůĂƚĞĚƚŽŶĂƚƵƌĂůŽƌŚƵŵĂŶͲŵĂĚĞŚĂnjĂƌĚƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲ'ŽŝŶŐ͗KĐĐƵƌƐǀŝĂ
ĞŵĞƌŐĞŶĐLJƉůĂŶŶŝŶŐĞĨĨŽƌƚƐ
^&
dz;^Ϳ ^Ͳϳ͘Ϭϴ͕^Ͳ
ϳ͘Ϭϵ
ϭϴ KEͲ'K/E' ŽŶƚŝŶƵĞƚŽŵĂŝŶƚĂŝŶĂŶĚƵƉĚĂƚĞ
ĞŵĞƌŐĞŶĐLJƐĞƌǀŝĐĞƐ͕ƉƌĞƉĂƌĞĚŶĞƐƐ͕ƌĞƐƉŽŶƐĞĂŶĚƌĞĐŽǀĞƌLJƉůĂŶƐĂŶĚƚƌĂŝŶŝŶŐƉƌŽŐƌĂŵƐƚŚĂƚŵĞĞƚ&ĞĚĞƌĂůĂŶĚ^ƚĂƚĞƌĞƋƵŝƌĞŵĞŶƚƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐͲKŶͲ 'ŽŝŶŐ͗KĐĐƵƌƐǀŝĂ
ĞŵĞƌŐĞŶĐLJƉůĂŶŶŝŶŐĞĨĨŽƌƚƐ͘
^&
dz;^Ϳ ^Ͳϳ͘ϬϮ ϭϵĂ KEͲ'K/E' WƵƌƐƵĞĞŵĞƌŐĞŶĐLJƐĞƌǀŝĐĞƐŐƌĂŶƚƐ ĂŶĚŽƚŚĞƌĨƵŶĚŝŶŐŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌĞŵĞƌŐĞŶĐLJƉůĂŶŶŝŶŐ͕ĂŶĚƉƵďůŝĐƐĂĨĞƚLJ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐͲKĐĐƵƌƐ ǀŝĂĞŵĞƌŐĞŶĐLJƉůĂŶŶŝŶŐĞĨĨŽƌƚƐ͘
^&
dz;^Ϳ ^Ͳϳ͘Ϭϯ ϮϮ KEͲ'K/E' WƌŽǀŝĚĞĞĚƵĐĂƚŝŽŶĂůŵĂƚĞƌŝĂůƐĂŶĚ ŽƵƚƌĞĂĐŚĞĨĨŽƌƚƐƚŽŝŶĨŽƌŵƚŚĞƉƵďůŝĐĂďŽƵƚĞŵĞƌŐĞŶĐLJƉƌĞƉĂƌĂƚŝŽŶĂŶĚƌĞƐƉŽŶƐĞ͕ĂŶĚĂďŽƵƚƚŚĞĂǀĂŝůĂďŝůŝƚLJŽĨĞŵĞƌŐĞŶĐLJƐĞƌǀŝĐĞƐ͘ WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐͲKŶͲ ŐŽŝŶŐ

ATTACHMENT 3
131

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
^&
dz;^Ϳ ^Ͳϳ͘ϭϬ Ϯϯ KEͲ'K/E' ^ƵƉƉŽƌƚĂŶĚŵĂŝŶƚĂŝŶĂĐƚŝǀĞ ƉƌŽŐƌĂŵƐƚŽĞŶŚĂŶĐĞĐŽŵŵƵŶŝƚLJƐĂĨĞƚLJ͕ĞŵĞƌŐĞŶĐLJƉƌĞƉĂƌĞĚŶĞƐƐĂŶĚĚŝƐĂƐƚĞƌƌĞƐƉŽŶƐĞƚŚƌŽƵŐŚǀŽůƵŶƚĞĞƌƉƌŽŐƌĂŵƐƐƵĐŚĂƐƚŚĞŽŵŵƵŶŝƚLJ ŵĞƌŐĞŶĐLJZĞƐƉŽŶƐĞdĞĂŵWƌŽŐƌĂŵ;
ZdͿ͕ZĞƚŝƌĞĚ^ĞŶŝŽƌsŽůƵŶƚĞĞƌWƌŽŐƌĂŵ;Z^sWͿ͕
džƉůŽƌĞƌ^ĐŽƵƚƐ͕EĞŝŐŚďŽƌŚŽŽĚtĂƚĐŚĂŶĚZĂĚŝŽŵĂƚĞƵƌŝƚŝnjĞŶ ŵĞƌŐĞŶĐLJ^ĞƌǀŝĐĞƐ;Z
^Ϳ͘
WƵďůŝĐtŽƌŬƐĂŶĚ,ƵŵĂŶZĞƐŽƵƌĐĞƐ
KŶͲŐŽŝŶŐ KŶͲ'ŽŝŶŐ͗dŚĞĐŝƚLJ
ƉĂƌƚŝĐŝƉĂƚĞƐŝŶƚŚĞŵĂũŽƌŝƚLJŽĨƉƌŽŐƌĂŵƐ͘hƚŝůŝƚŝĞƐƉƌŽǀŝĚĞƐƐƵƉƉŽƌƚƐƚŽĚŝƐĂƐƚĞƌƉƌĞƉĂƌĞĚŶĞƐƐ͕ďƵƚĚŽĞƐŶ͛ƚŽǀĞƌƐĞĞƚŚĞƐĞƉƌŽŐƌĂŵƐ͘ ^&
dz;^Ϳ ϭϱ KEͲ'K/E' ^ƚƵĚLJƚŚĞĨĞĂƐŝďŝůŝƚLJĂŶĚƉƌĂĐƚŝĐĂůŝƚLJ ŽĨŽďƚĂŝŶŝŶŐĂĚĞƋƵĂƚĞŐĞŶĞƌĂƚŽƌƐĨŽƌĐƌŝƚŝĐĂůŝƚLJĨĂĐŝůŝƚŝĞƐƚŚĂƚĚŽŶŽƚĐƵƌƌĞŶƚůLJŚĂǀĞƚŚĞŵ͘ hƚŝůŝƚŝĞƐͬWƵďůŝĐtŽƌŬƐ
KŶͲŐŽŝŶŐ  KŶͲ'ŽŝŶŐ͗'ĞŶĞƌĂƚŽƌƐ
ŚĂǀĞďĞĞŶŝŶƐƚĂůůĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞŝƚLJ͛ƐtĂƚĞƌDĂƐƚĞƌWůĂŶ͕ĂƚĂůůtĂƐƚĞǁĂƚĞƌĨĂĐŝůŝƚŝĞƐĂŶĚĂƚĐƌŝƚŝĐĂů/dŝŶĨƌĂƐƚƌƵĐƚƵƌĞůŽĐĂƚŝŽŶƐ͘dŚĞƵƐĞĂŶĚůŽĐĂƚŝŽŶŽĨŐĞŶĞƌĂƚŽƌƐŝƐĞǀĂůƵĂƚĞĚĂƐƉĂƌƚŽĨŶŽƌŵĂůŽƉĞƌĂƚŝŽŶƐ͘ ^&
dz;^Ϳ ϭϱ KEͲ'K/E' ^ƚƵĚLJƚŚĞĨĞĂƐŝďŝůŝƚLJĂŶĚƉƌĂĐƚŝĐĂůŝƚLJ ŽĨŽďƚĂŝŶŝŶŐĂĚĞƋƵĂƚĞŐĞŶĞƌĂƚŽƌƐĨŽƌĐƌŝƚŝĐĂůŝƚLJĨĂĐŝůŝƚŝĞƐƚŚĂƚĚŽŶŽƚĐƵƌƌĞŶƚůLJŚĂǀĞƚŚĞŵ͘ hƚŝůŝƚŝĞƐͬWƵďůŝĐtŽƌŬƐ
KŶͲŐŽŝŶŐ 'ĞŶĞƌĂƚŽƌƐŚĂǀĞďĞĞŶ
ŝŶƐƚĂůůĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞŝƚLJ͛ƐtĂƚĞƌDĂƐƚĞƌWůĂŶ͕ĂƚĂůůtĂƐƚĞǁĂƚĞƌĨĂĐŝůŝƚŝĞƐĂŶĚĂƚĐƌŝƚŝĐĂů/dŝŶĨƌĂƐƚƌƵĐƚƵƌĞůŽĐĂƚŝŽŶƐ͘dŚĞƵƐĞĂŶĚůŽĐĂƚŝŽŶŽĨŐĞŶĞƌĂƚŽƌƐŝƐĞǀĂůƵĂƚĞĚĂƐƉĂƌƚŽĨŶŽƌŵĂůŽƉĞƌĂƚŝŽŶƐ͘

ATTACHMENT 3
132

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
hZE
^/'E;hͿ

ůĞŵĞŶƚ'ŽĂůƐ
ϮϬ KEͲ'K/E' ZĞǀŝĞǁĂŶĚƵƉĚĂƚĞƌĞŐƵůĂƚŝŽŶƐĂŶĚ
ĚĞƐŝŐŶŐƵŝĚĞůŝŶĞƐĂƐŶĞĐĞƐƐĂƌLJƚŽƌĞĨůĞĐƚďĞƐƚƉƌĂĐƚŝĐĞƐŝŶĂƌĐŚŝƚĞĐƚƵƌĂůĚĞƐŝŐŶ͕ůĂŶĚƐĐĂƉŝŶŐĂŶĚŵĂŝŶƚĞŶĂŶĐĞ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ tŽƌŬƚŽĨŽůůŽǁƵƉĚĂƚŝŶŐ
^ƉĞĐŝĨŝĐWůĂŶƐĨŽƌĐŽŶƐŝƐƚĞŶĐLJǁŝƚŚƚŚĞ'ĞŶĞƌĂůWůĂŶ͕ĂŶĚĨŽůůŽǁĞƐƚŽƚŚĞ>W͘/DĚĞƐĐƌŝƉƚŝŽŶĐŽŶƐŝƐƚĞŶƚǁŝƚŚŽƵƚůŽǁĂŶĚŵĞĚŝƵŵƉƌŝŽƌŝƚLJ/DƐ͘ hZE
^/'E;hͿ
hͲϱ͘ϭϯ Ϯϭ KEͲ'K/E' ZĞǀŝĞǁĂŶĚƵƉĚĂƚĞƚŚĞŽŶŝŶŐ
KƌĚŝŶĂŶĐĞĂŶĚĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐƚŽƐƚƌĞĂŵůŝŶĞƚŚĞĚĞǀĞůŽƉŵĞŶƚƌĞǀŝĞǁƉƌŽĐĞƐƐ͕ŝŶĐůƵĚŝŶŐƚŚĞƉŽƐƐŝďŝůŝƚLJŽĨƉĂƌŬŝŶŐǁĂŝǀĞƌĂŶĚŝŶͲůŝĞƵĨĞĞƉƌŽŐƌĂŵƐĂŶĚŽƚŚĞƌŝŶĐĞŶƚŝǀĞƐƚŚĂƚĞŶĐŽƵƌĂŐĞƚŚĞƌĞŚĂďŝůŝƚĂƚŝŽŶĂŶĚĨĂĐĂĚĞƵƉŐƌĂĚĞƐŝŶƚŚĞŽǁŶƚŽǁŶŽƌĞ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
KŶͲŐŽŝŶŐ ŽŶŝŶŐƉƌŽĐĞĚƵƌĞƐǁĞƌĞ
ĂŵĞŶĚĞĚŝŶϮϬϭϱǁŝƚŚĚŝƌĞĐƚŝŽŶƚŽƌĞĐŽŶƐŝĚĞƌĂŶĚƉŽƐƐŝďůLJƐƚƌĞĂŵůŝŶĞƌĞǀŝĞǁƉƌŽĐĞƐƐĨƵƌƚŚĞƌĂĨƚĞƌƵƉĚĂƚĞƐƚŽŽŶŝŶŐ͕^ƉĞĐŝĨŝĐWůĂŶƐ͕ĂŶĚĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐ͘dŚĞWĂƌŬŝŶŐĐƚŝŽŶdĞĂŵĞǀĂůƵĂƚĞƐǀĂƌŝŽƵƐƉĂƌŬŝŶŐƐŽůƵƚŝŽŶƐ͕ŝŶĐůƵĚŝŶŐŝŶͲůŝĞƵĨĞĞƐ͕ĨŽƌŝƚLJŽƵŶĐŝůĐŽŶƐŝĚĞƌĂƚŝŽŶ͘ hZE
^/'E;hͿ
hͲϭ͘ϬϴͲϬϵ͕hͲϮ͘Ϭϳ
ϲ KEͲ'K/E' DĂŝŶƚĂŝŶĂŶĚĞdžƉĂŶĚƚŚĞtĂLJĨŝŶĚŝŶŐ
^ŝŐŶWƌŽŐƌĂŵĂŶĚŝƚLJǁĞďƐŝƚĞƚŽĨĂĐŝůŝƚĂƚĞƌĞŐŝŽŶĂůĂĐĐĞƐƐĨƌŽŵ/ŶƚĞƌƐƚĂƚĞϱƚŽƉŽƉƵůĂƌĚĞƐƚŝŶĂƚŝŽŶƐ;Ğ͘Ő͕͘ĞůDĂƌ͕WŝĞƌŽǁů͕EŽƌƚŚĞĂĐŚͿ͕ƉƌŝŵĂƌLJďĞĂĐŚĂĐĐĞƐƐƉŽŝŶƚƐ͕ƉĂƌŬƐ͕ƉƵďůŝĐƉĂƌŬŝŶŐĂƌĞĂƐ͕ƉƌŽŵŝŶĞŶƚŶĂƚƵƌĂůĨĞĂƚƵƌĞƐĂŶĚŝƚLJĞŶƚƌLJƉŽŝŶƚƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚͬWƵďůŝĐtŽƌŬƐ
KŶͲŐŽŝŶŐ KŶͲŐŽŝŶŐ͘ŽŶƚŝŶƵĞƚŽ
ŵŽŶŝƚŽƌŝƐƐƵĞ͕ŝĚĞŶƚŝĨLJŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌŝŵƉƌŽǀĞĚǁĂLJĨŝŶĚŝŶŐ͕ĂŶĚĂƐƐĞƐƐŵĂŝŶƚĞŶĂŶĐĞ͘ŽŶƐŝĚĞƌŝŵƉƌŽǀĞŵĞŶƚƐŝŶĂŶŶƵĂůďƵĚŐĞƚƉƌŽĐĞƐƐ͘tŝƚŚŽƵŶĐŝůĚŝƌĞĐƚŝŽŶ͕ŝŶĂĨƵƚƵƌĞƵƉĚĂƚĞŽĨƚŚĞĚĞƐŝŐŶŐƵŝĚĞůŝŶĞƐ͕ƚŚĞƉƌĞǀŝŽƵƐůLJƉƌŽĐĞƐƐĞĚĂŶĚĂĐĐĞƉƚĞĚǁĂLJĨŝŶĚŝŶŐƐŝŐŶƉƌŽŐƌĂŵĐĂŶďĞĨŽůĚĞĚŝŶƚŽŐƵŝĚĞůŝŶĞƐ͘

ATTACHMENT 3
133

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
hZE
^/'E;hͿ
hͲϭ͘ϬϴͲϬϵ͕hͲϮ͘Ϭϳ
ϲ KEͲ'K/E' DĂŝŶƚĂŝŶĂŶĚĞdžƉĂŶĚƚŚĞtĂLJĨŝŶĚŝŶŐ
^ŝŐŶWƌŽŐƌĂŵĂŶĚŝƚLJǁĞďƐŝƚĞƚŽĨĂĐŝůŝƚĂƚĞƌĞŐŝŽŶĂůĂĐĐĞƐƐĨƌŽŵ/ŶƚĞƌƐƚĂƚĞϱƚŽƉŽƉƵůĂƌĚĞƐƚŝŶĂƚŝŽŶƐ;Ğ͘Ő͕͘ĞůDĂƌ͕WŝĞƌŽǁů͕EŽƌƚŚĞĂĐŚͿ͕ƉƌŝŵĂƌLJďĞĂĐŚĂĐĐĞƐƐƉŽŝŶƚƐ͕ƉĂƌŬƐ͕ƉƵďůŝĐƉĂƌŬŝŶŐĂƌĞĂƐ͕ƉƌŽŵŝŶĞŶƚŶĂƚƵƌĂůĨĞĂƚƵƌĞƐĂŶĚŝƚLJĞŶƚƌLJƉŽŝŶƚƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚͬWƵďůŝĐtŽƌŬƐ
KŶͲŐŽŝŶŐ KŶͲ'ŽŝŶŐ͗ŽŶƚŝŶƵĞƚŽ
ŵŽŶŝƚŽƌŝƐƐƵĞ͕ŝĚĞŶƚŝĨLJŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌŝŵƉƌŽǀĞĚǁĂLJĨŝŶĚŝŶŐ͕ĂŶĚĂƐƐĞƐƐŵĂŝŶƚĞŶĂŶĐĞ͘ŽŶƐŝĚĞƌŝŵƉƌŽǀĞŵĞŶƚƐŝŶĂŶŶƵĂůďƵĚŐĞƚƉƌŽĐĞƐƐ͘tŝƚŚŽƵŶĐŝůĚŝƌĞĐƚŝŽŶ͕ŝŶĂĨƵƚƵƌĞƵƉĚĂƚĞŽĨƚŚĞĚĞƐŝŐŶŐƵŝĚĞůŝŶĞƐ͕ƚŚĞƉƌĞǀŝŽƵƐůLJƉƌŽĐĞƐƐĞĚĂŶĚĂĐĐĞƉƚĞĚǁĂLJĨŝŶĚŝŶŐƐŝŐŶƉƌŽŐƌĂŵĐĂŶďĞĨŽůĚĞĚŝŶƚŽŐƵŝĚĞůŝŶĞƐ͘ hZE
^/'E;hͿ
'ŽĂůƐϳͲϭϰ
ϭ KEͲ'K/E'
džƉĂŶĚĂŶĚƵƉŐƌĂĚĞƚŚĞŝƚLJΖƐ
ŝŵƉŽƌƚĂŶƚƉƵďůŝĐƉůĂĐĞƐ͕ŐŝǀŝŶŐŚŝŐŚƉƌŝŽƌŝƚLJƚŽƵƌďĂŶĚĞƐŝŐŶĂŶĚƐƚƌĞĞƚƐĐĂƉĞŝŵƉƌŽǀĞŵĞŶƚƐŝŶƚŚĞĨŽůůŽǁŝŶŐĂƌĞĂƐ͕ŝŶŶŽƉĂƌƚŝĐƵůĂƌŽƌĚĞƌ͗ĂͿEŽƌƚŚĞĂĐŚ͕ďͿ^ŽƵƚŚ ůĂŵŝŶŽZĞĂů͕ďĞƚǁĞĞŶdͲŽŶĞĂŶĚ/ŶƚĞƌƐƚĂƚĞ͖ĐͿ>ŽƐDŽůŝŶŽƐ͕ĚͿ^ŽƵƚŚ ůĂŵŝŶŽZĞĂů͕ƐŽƵƚŚŽĨǀĞŶŝĚĂDĂŐĚĂůĞŶĂ͕ĞͿĞůDĂƌͬdͲŽŶĞ͕ĨͿWŝĞƌŽǁů͕ŐͿ^ŽƵƚŚ ůĂŵŝŶŽZĞĂů͕ďĞƚǁĞĞŶ/ŶƚĞƌƐƚĂƚĞϱĂŶĚǀĞŶŝĚĂDĂŐĚĂůĞŶĂ͕ŚͿĂŵŝŶŽĚĞ ƐƚƌĞůůĂͬĂŵŝŶŽĚĞ>ŽƐDĂƌĞƐ͕ŝͿEŽƌƚŚ
ůĂŵŝŶŽZĞĂů
WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ^ƚĂĨĨŝŶŐZĞƐŽƵƌĐĞƐ͕
&ƵŶĚŝŶŐůŝŵŝƚĂƚŝŽŶƐͲ/ŵƉƌŽǀĞŵĞŶƚƐĂƌĞƉƵƌƐƵĞĚĂƐĚŝƌĞĐƚĞĚďLJŽƵŶĐŝůƚŚƌŽƵŐŚďƵĚŐĞƚĂŶĚĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚWƌŽŐƌĂŵ hZE
^/'E;hͿ
hͲϰ͘Ϭϭ͕hͲϰ͘Ϭϲ
ϭϬ KEͲ'K/E'
ƐƚĂďůŝƐŚƉƌŽŐƌĂŵƐƚŽŵĂŝŶƚĂŝŶ
ĐůĞĂŶ͕ĂƚƚƌĂĐƚŝǀĞƐŝĚĞǁĂůŬƐŝŶĐŽŵŵĞƌĐŝĂůĂƌĞĂƐ͘
WƵďůŝĐtŽƌŬƐ KŶͲŐŽŝŶŐ ůĂƌŝĨŝĐĂƚŝŽŶ &ƵŶĚŝŶŐ>ŝŵŝƚĂƚŝŽŶƐͲŝƚLJ ŚĂƐŽƵŶĐŝůĂƉƉƌŽǀĞĚƉƌŽŐƌĂŵĨŽƌdͲŽŶĞ͘

ATTACHMENT 3
134

>
D
Ed
'
E
Z>
W>E
WK>/z
/Dη
WZ/KZ/dz
>
s
>
/DW>
D
Edd/KED
^hZ


^Z/Wd/KE >

Wd͘ ^ddh^ Z
^KE&KZ,E'
^ ^ddh^KE^dZ/Ed^
hZE
^/'E;hͿ
hͲϱ͘ϭϴ ϭϴ KEͲ'K/E' ĞǀĞůŽƉŝŶĐĞŶƚŝǀĞƐĨŽƌƚŚĞƵƐĞŽĨ
ĚƌŽƵŐŚƚͲƚŽůĞƌĂŶƚĂŶĚĂůŝĨŽƌŶŝĂŶĂƚŝǀĞƐƉĞĐŝĞƐŝŶůĂŶĚƐĐĂƉĞĚĞƐŝŐŶ͘ hƚŝůŝƚŝĞƐ KŶͲŐŽŝŶŐ dŚĞƌĞĂƌĞŝŶĐĞŶƚŝǀĞƐĨŽƌ
ƚƵƌĨƌĞŵŽǀĂůĂŶĚŝŶƐƚĂůůĂƚŝŽŶŽĨĚƌŽƵŐŚƚƚŽůĞƌĂŶƚƉůĂŶƚƐĂůŽŶŐǁŝƚŚĚƌŝƉŝƌƌŝŐĂƚŝŽŶĐŽŶǀĞƌƐŝŽŶ͘

ATTACHMENT 3
135

>
D
Ed '
E
Z>W>E WK>/z /Dη  WZ/KZ/dz >
s
> /DW>
D
Edd/KED
^hZ

^Z/Wd/KE >

Wd͘ ^ddh^ ^ddh^EKd
^
>Eh^
;>hͿ ϭď ,/',
WZ/KZ/dz
hƉĚĂƚĞ^ƉĞĐŝĨŝĐWůĂŶƐĨŽƌŝƚLJĂƌĞĂƐŽƵƚƐŝĚĞĂŶĚǁŝƚŚŝŶƚŚĞŽĂƐƚĂůŽŶĞƚŽďĞĐŽŶƐŝƐƚĞŶƚǁŝƚŚƚŚĞĞŶƚĞŶŶŝĂů'ĞŶĞƌĂůWůĂŶ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚ
ϮϬϮϯ
ŽŵƉůĞƚĞĚ
>Eh^
;>hͿ >hͲϲ͘Ϭϱ ,/',
WZ/KZ/dz
>ŝƐƚƐƵƌƉůƵƐŝƚLJƉƌŽƉĞƌƚŝĞƐĨŽƌƐĂůĞŽƌůĞĂƐĞĂŶĚĐŽŶƐŝĚĞƌƉƌŽƉŽƐĂůƐ͘ ŝƚLJDĂŶĂŐĞƌ ŽŵƉůĞƚĞĚ ϮϬϮϯ
dŚĞŝƚLJŽƵŶĐŝůŝƐŝŶƚŚĞƉƌŽĐĞƐƐŽĨĞǀĂůƵĂƚŝŶŐ^>ŽĨĨĞƌƐĂƚƚŚĞĨŽƌŵĞƌŝƚLJ,ĂůůƐŝƚĞ;ϭϬϬǀĞWƌĞƐŝĚŝŽͿĂŶĚŵĂLJĂůƐŽĐŽŶƐŝĚĞƌĂƐĂůĞŽƌůĞĂƐĞŽĨŝƚLJƉƌŽƉĞƌƚLJĂƚƚŚĞĐŽƌŶĞƌŽĨǀĞ͘sŝƐƚĂ,ĞƌŵŽƐĂĂŶĚǀĞ͘>ĂWĂƚĂ͘ >Eh^
;>hͿ >hͲϴ͘Ϭϭ͕>hͲϴ͘ϬϮ ϲ D
/hD
WZ/KZ/dz
hƉĚĂƚĞƚŚĞZĂŶĐŚŽ^ĂŶůĞŵĞŶƚĞ^ƉĞĐŝĨŝĐWůĂŶƵƐŝŶĞƐƐĂŶĚ/ŶĚƵƐƚƌŝĂů WĂƌŬƌĞŐƵůĂƚŝŽŶƐƚŽƐƚƌĞĂŵůŝŶĞƚŚĞĞƐƚĂďůŝƐŚŵĞŶƚŽĨďƵƐŝŶĞƐƐĐŽŶƐŝƐƚĞŶƚ ǁŝƚŚƚŚĞƉƵƌƉŽƐĞĂŶĚŝŶƚĞŶƚŽĨƚŚĞƐĞĂƌĞĂƐ͕ƐƵĐŚĂƐƚŚĞƌĞůŽĐĂƚŝŽŶŽĨĂƵƚŽŵŽƚŝǀĞƵƐĞƐĨƌŽŵ ůĂŵŝŶŽZĞĂů͘
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚ
ϮϬϮϯ
ŽŵƉůĞƚĞĚ
>Eh^
;>hͿ >hͲϳ͘ϬϮ͕>hͲϳ͘Ϭϯ ϱ D
/hD
WZ/KZ/dz
DĞĞƚǁŝƚŚŵĞĚŝĐĂůŽĨĨŝĐĞƉƌŽĨĞƐƐŝŽŶĂůƐĂŶĚŚŽƐƉŝƚĂůĂĚŵŝŶŝƐƚƌĂƚŝŽŶƚŽďĞƚƚĞƌƵŶĚĞƌƐƚĂŶĚƚŚĞŝƌŶĞĞĚƐĂŶĚƵƐĞŽĨŝƚLJƌĞƐŽƵƌĐĞƐ͕ĂŶĚƉƌŽǀŝĚĞůĞĂĚĞƌƐŚŝƉƚŽŚĞůƉƚŚĞŵďĞƚƚĞƌĂĐĐŽŵƉůŝƐŚƚŚĞŝƚLJ͛ƐŐŽĂůƐĂŶĚŽďũĞĐƚŝǀĞƐ͘ ŝƚLJDĂŶĂŐĞƌ ŽŵƉůĞƚĞĚ
ϮϬϮϯ
^ƚĂĨĨĐŽŶƚŝŶƵĞƐƚŽƐĞĞŬŽƉƚŝŽŶƐƚŽďĞƚƚĞƌĂĚĚƌĞƐƐŵĞĚŝĐĂůƐĞƌǀŝĐĞƐŝŶ^ĂŶůĞŵĞŶƚĞ͘dŚĞŝƚLJĐŽŶƐŝĚĞƌĞĚŽŶŝŶŐĐŚĂŶŐĞƐ͕ŽƵŶĐŝůƚĂďůĞĚŝŶϮϬϮϬ͘^ƚĂĨĨĂŶĚŽƵŶĐŝůŚĂǀĞďĞĞŶĐŽŶƚĂĐƚĞĚďLJƉŽƚĞŶƚŝĂůŽƉĞƌĂƚŽƌƐĂƚƚŚĞĨŽƌŵĞƌŚŽƐƉŝƚĂůƐŝƚĞ͘ŽƵŶĐŝůĂƵƚŚŽƌŝnjĞĚĂƐƵƌǀĞLJƚŽŐĂƵŐĞƚŚĞƉƵďůŝĐ͛ƐŝŶƚĞƌĞƐƚŝŶĂŚŽƐƉŝƚĂůĚŝƐƚƌŝĐƚ͘ZĞƐƵůƚƐǁĞƌĞƉƌĞƐĞŶƚĞĚŽŶ:ĂŶƵĂƌLJϭϴ͕ϮϬϮϮ͘ EdhZ>Z
^KhZ
^;EZͿ
EZͲϭ͘ϬϮ͕EZͲϭ͘Ϭϯ͕EZͲϭ͘Ϭϰ͕EZͲϭ͘Ϭϱ͕EZͲϭ͘Ϭϲ
ϰ D
/hD
WZ/KZ/dz
ZĞǀŝĞǁƚŚĞŽŶŝŶŐKƌĚŝŶĂŶĐĞĂŶĚĂŵĞŶĚŝĨŶĞĐĞƐƐĂƌLJƚŽĞŶƐƵƌĞƌĞŐƵůĂƚŝŽŶƐĂĚĞƋƵĂƚĞůLJĂĚĚƌĞƐƐŶŽŶͲĐŽŵƉĂƚŝďůĞůĂŶĚƵƐĞƐŝŶŚĂďŝƚĂƚĂƌĞĂƐĂŶĚƉĂƐƐŝǀĞŽƉĞŶƐƉĂĐĞ͕ƐƵĐŚĂƐĐŽŵŵĞƌĐŝĂůƵƐĞƐ͕ŽĨĨͲƌŽĂĚŵŽƚŽƌŝnjĞĚǀĞŚŝĐůĞƵƐĞ͕ŽĨĨͲƚƌĂŝů͕ŶŽŶͲŵŽƚŽƌŝnjĞĚǀĞŚŝĐůĞƵƐĞ͕ŚĂŶŐŐůŝĚŝŶŐ͕ŐƌĂĚŝŶŐŽƌŽƚŚĞƌĂĐƚŝǀŝƚŝĞƐƚŚĂƚĐŽŶĨůŝĐƚǁŝƚŚďŝŽůŽŐŝĐĂůĐŽŶƐĞƌǀĂƚŝŽŶŐŽĂůƐŽƌƉŽůŝĐŝĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚ
ϮϬϮϯ
ŽŵƉůĞƚĞĚ
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϰ͘Ϭϱ ϮϬ D
/hD
WZ/KZ/dz
ŽŶƐŝĚĞƌĂŵĞŶĚŝŶŐƚŚĞŽŶŝŶŐKƌĚŝŶĂŶĐĞƚŽĞŶĐŽƵƌĂŐĞĐŚŝůĚĐĂƌĞĨĂĐŝůŝƚŝĞƐƚŽďĞĞƐƚĂďůŝƐŚĞĚ͕ĞƐƉĞĐŝĂůůLJǁŚĞƌĞƐƵĐŚĨĂĐŝůŝƚŝĞƐĂƌĞĂƉƉƌŽƉƌŝĂƚĞƚŽƐĞƌǀĞǁŽƌŬŝŶŐƉĂƌĞŶƚƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚ
ϮϬϮϯ
ŽŵƉůĞƚĞĚ
hZE
^/'E;hͿ hͲϱ͘Ϭϴ ϭϵ D
/hD
WZ/KZ/dz
hƉĚĂƚĞĚĞƐŝŐŶŐƵŝĚĞůŝŶĞƐŝŶƚŚĞtĞƐƚWŝĐŽŽƌƌŝĚŽƌ^ƉĞĐŝĨŝĐWůĂŶƚŽ ƉƌŽǀŝĚĞŶĞǁĚĞƐŝŐŶŐƵŝĚĂŶĐĞĨŽƌĂƌĐŚŝƚĞĐƚƵƌĞĂŶĚůĂŶĚƐĐĂƉĞĐŚĂƌĂĐƚĞƌ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚ
ϮϬϮϯ
ŽŵƉůĞƚĞĚ

ATTACHMENT 4
136

>
D
Ed '
E
Z>W>E WK>/z /Dη  WZ/KZ/dz >
s
> /DW>
D
Edd/KED
^hZ

^Z/Wd/KE >

Wd͘ ^ddh^ ^ddh^EKd
^
>Eh^
;>hͿ >hͲϮ͘Ϭϭ͕>hͲϮ͘Ϭϯ Ϯ >Kt
WZ/KZ/dz

ƐƚĂďůŝƐŚĚĞƐŝŐŶŐƵŝĚĞůŝŶĞƐĨŽƌĂƵƚŽŵŽďŝůĞƌĞƉĂŝƌ͕ĨƵĞůŝŶŐƐƚĂƚŝŽŶƐ͕ŽƵƚĚŽŽƌƐƚŽƌĂŐĞ͕ĂŶĚƐŝŵŝůĂƌƵƐĞƐǁŚŝĐŚƉƌŽǀŝĚĞĨŽƌƚŚĞŝƌƉŚLJƐŝĐĂůĂŶĚǀŝƐƵĂůĐŽŵƉĂƚŝďŝůŝƚLJǁŝƚŚƚŚĞĚŝƐƚƌŝĐƚŝŶǁŚŝĐŚƚŚĞLJĂƌĞůŽĐĂƚĞĚ͖ŝŶĐůƵĚŝŶŐƐƚĂŶĚĂƌĚƐĨŽƌďƵŝůĚŝŶŐĐŚĂƌĂĐƚĞƌĂŶĚĚĞƐŝŐŶ͕ŵĂƚĞƌŝĂůƐ͕ĐŽůŽƌƐ͕ůĂŶĚƐĐĂƉĞ͕ƐŝŐŶĂŐĞ͕ůŝŐŚƚŝŶŐ͕ĂŶĚŽƚŚĞƌƉĞƌƚŝŶĞŶƚĞůĞŵĞŶƚƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚ
ϮϬϮϯ
ŽŵƉůĞƚĞĚ
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϮ͘ϭϭ Ϯϵ >Kt
WZ/KZ/dz
ĞǀĞůŽƉŝƚLJͲǁŝĚĞŶĂǀŝŐĂƚŝŽŶĂůƚŽŽůƐƐƵĐŚĂƐŵĂƉƐ͕ĚŝŐŝƚĂůŵĂƉ͕'W^͕Žƌ ŽƚŚĞƌĞŵĞƌŐŝŶŐƚĞĐŚŶŽůŽŐŝĞƐ͘;DͲϮ͘ϭϭŝĐLJĐůĞĂŶĚWĞĚĞƐƚƌŝĂŶtĂLJĨŝŶĚŝŶŐͿ͘ ŝƚLJDĂŶĂŐĞƌ ŽŵƉůĞƚĞĚ
ϮϬϮϯ
DĂƉĨŽƌƚŚĞŝƚLJ͛ƐďŝĐLJĐůĞŶĞƚǁŽƌŬŝƐĂǀĂŝůĂďůĞŽŶƚŚĞŝƚLJ͛ƐǁĞďƐŝƚĞ͘ ^&
dz;^Ϳ ^Ͳϰ͘Ϭϴ ϭϯ D
/hD
WZ/KZ/dz
ĚŽƉƚĂŶĚŵĂŝŶƚĂŝŶĂŝƚLJƉŽůŝĐLJŽĨďĞƐƚŵĂŶĂŐĞŵĞŶƚƉƌĂĐƚŝĐĞƐĨŽƌůŝǀĞĞŶƚĞƌƚĂŝŶŵĞŶƚƵƐĞƐƚŽŵŝƚŝŐĂƚĞŶŽŝƐĞŝŵƉĂĐƚƐŽŶƌĞƐŝĚĞŶƚŝĂůŽƌŽƚŚĞƌ ƐĞŶƐŝƚŝǀĞƵƐĞƐ͘
ŽŵŵƵŶŝƚLJ
ĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚ
ϮϬϮϮ
ŝƚLJĂĚŽƉƚĞĚŝŶƚĞƌŶĂůƐƚĂŶĚĂƌĚƉƌŽĐĞĚƵƌĞĨŽƌĂŵƉůŝĨŝĞĚƐŽƵŶĚĐŽŶƐŝƐƚĞŶƚǁŝƚŚƚŚĞŵƵŶŝĐŝƉĂůĐŽĚĞ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϰ͘Ϭϱ ϮϬ D
/hD
WZ/KZ/dz
ŽŶƐŝĚĞƌĂŵĞŶĚŝŶŐƚŚĞŽŶŝŶŐKƌĚŝŶĂŶĐĞƚŽĞŶĐŽƵƌĂŐĞĐŚŝůĚĐĂƌĞĨĂĐŝůŝƚŝĞƐƚŽďĞĞƐƚĂďůŝƐŚĞĚ͕ĞƐƉĞĐŝĂůůLJǁŚĞƌĞƐƵĐŚĨĂĐŝůŝƚŝĞƐĂƌĞĂƉƉƌŽƉƌŝĂƚĞƚŽƐĞƌǀĞǁŽƌŬŝŶŐƉĂƌĞŶƚƐ͘ ŽŵŵƵŶŝƚLJ
ĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚ
ϮϬϮϮ
ĚŽƉƚĞĚŽƌĚŝŶĂŶĐĞĐŽŶƐŝƐƚĞŶƚǁŝƚŚƐƚĂƚĞůĂǁƚŚĂƚƌĞƋƵŝƌĞƐĐŝƚŝĞƐƚŽĨĂĐŝůŝƚĂƚĞƚŚĞĞƐƚĂďůŝƐŚŵĞŶƚŽĨƚŚĞƐĞƵƐĞƐ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϱ͘ϭϮ Ϯϲ ,/',
WZ/KZ/dz
ZĞǀŝĞǁĂŶĚƵƉĚĂƚĞŝƚLJůĂŶĚƐĐĂƉŝŶŐĂŶĚŝƌƌŝŐĂƚŝŽŶƌĞƋƵŝƌĞŵĞŶƚƐĨŽƌƉƵďůŝĐĂŶĚƉƌŝǀĂƚĞĚĞǀĞůŽƉŵĞŶƚƚŽĞŶƐƵƌĞƌĞŐƵůĂƚŝŽŶƐƉƌŽŵŽƚĞĚƌŽƵŐŚƚͲƚŽůĞƌĂŶƚůĂŶĚƐĐĂƉŝŶŐĂŶĚƐLJƐƚĞŵƐďĞƐƚƉƌĂĐƚŝĐĞƐ͘ ŽŵŵƵŶŝƚLJ
ĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚ
ϮϬϮϮ
ĚŽƉƚĞĚDŽĚĞů
ĨĨŝĐŝĞŶƚ>ĂŶĚƐĐĂƉĞKƌĚŝŶĂŶĐĞ;Dt
>KͿ͘
>Eh^
;>hͿ >hͲϳ͘ϬϮ͕>hͲϳ͘Ϭϯ ϱ D
/hD
WZ/KZ/dz
DĞĞƚǁŝƚŚŵĞĚŝĐĂůŽĨĨŝĐĞƉƌŽĨĞƐƐŝŽŶĂůƐĂŶĚŚŽƐƉŝƚĂůĂĚŵŝŶŝƐƚƌĂƚŝŽŶƚŽďĞƚƚĞƌƵŶĚĞƌƐƚĂŶĚƚŚĞŝƌŶĞĞĚƐĂŶĚƵƐĞŽĨŝƚLJƌĞƐŽƵƌĐĞƐ͕ĂŶĚƉƌŽǀŝĚĞůĞĂĚĞƌƐŚŝƉƚŽŚĞůƉƚŚĞŵďĞƚƚĞƌĂĐĐŽŵƉůŝƐŚƚŚĞŝƚLJ͛ƐŐŽĂůƐĂŶĚŽďũĞĐƚŝǀĞƐ͘ ŝƚLJDĂŶĂŐĞƌ ŽŵƉůĞƚĞĚ ϮϬϮϮ
^ƚĂĨĨĐŽŶƚŝŶƵĞƐƚŽƐĞĞŬŽƉƚŝŽŶƐƚŽďĞƚƚĞƌĂĚĚƌĞƐƐŵĞĚŝĐĂůƐĞƌǀŝĐĞƐŝŶ^ĂŶůĞŵĞŶƚĞ͘dŚĞŝƚLJĐŽŶƐŝĚĞƌĞĚŽŶŝŶŐĐŚĂŶŐĞƐ͕ŽƵŶĐŝůƚĂďůĞĚŝŶϮϬϮϬ͘^ƚĂĨĨĂŶĚŽƵŶĐŝůŚĂǀĞďĞĞŶĐŽŶƚĂĐƚĞĚďLJƉŽƚĞŶƚŝĂůŽƉĞƌĂƚŽƌƐĂƚƚŚĞĨŽƌŵĞƌŚŽƐƉŝƚĂůƐŝƚĞ͘ŽƵŶĐŝůĂƵƚŚŽƌŝnjĞĚĂƐƵƌǀĞLJƚŽŐĂƵŐĞƚŚĞƉƵďůŝĐ͛ƐŝŶƚĞƌĞƐƚŝŶĂŚŽƐƉŝƚĂůĚŝƐƚƌŝĐƚ͘ZĞƐƵůƚƐǁĞƌĞƉƌĞƐĞŶƚĞĚŽŶ:ĂŶƵĂƌLJϭϴ͕ϮϬϮϮ͘ DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϮ͘ϭϭ Ϯϵ >Kt ĞǀĞůŽƉŝƚLJͲǁŝĚĞŶĂǀŝŐĂƚŝŽŶĂůƚŽŽůƐƐƵĐŚĂƐŵĂƉƐ͕ĚŝŐŝƚĂůŵĂƉ͕'W^͕Žƌ ŽƚŚĞƌĞŵĞƌŐŝŶŐƚĞĐŚŶŽůŽŐŝĞƐ͘;DͲϮ͘ϭϭŝĐLJĐůĞĂŶĚWĞĚĞƐƚƌŝĂŶtĂLJĨŝŶĚŝŶŐͿ͘ ŝƚLJDĂŶĂŐĞƌ ŽŵƉůĞƚĞĚ ϮϬϮϮ DĂƉĨŽƌƚŚĞŝƚLJ͛ƐďŝĐLJĐůĞŶĞƚǁŽƌŬŝƐ ĂǀĂŝůĂďůĞŽŶƚŚĞŝƚLJ͛ƐǁĞďƐŝƚĞ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&h'ŽĂůϮ ϴ D
/hD
WZ/KZ/dz

džƉůŽƌĞŽƉƉŽƌƚƵŶŝƚŝĞƐƚŽĞdžƉĂŶĚůŝďƌĂƌLJƐĞƌǀŝĐĞƐƚŚƌŽƵŐŚĐƌĞĂƚŝǀĞƉƵďůŝĐͬƉƌŝǀĂƚĞͬŶŽŶͲƉƌŽĨŝƚƉĂƌƚŶĞƌƐŚŝƉƐ͕ĞŝƚŚĞƌĂƐĂƐƵƉƉůĞŵĞŶƚŽƌ ĂůƚĞƌŶĂƚŝǀĞƚŽƚŚĞŽƵŶƚLJŽƉĞƌĂƚŝŽŶ͘
ŝƚLJDĂŶĂŐĞƌ ŽŵƉůĞƚĞĚ ϮϬϮϮ
džƉůŽƌĞĚŝŶϮϬϭϳĂŶĚĂŐĂŝŶŝŶϮϬϮϮ͘
>Eh^
;>hͿ >hͲϲ͘Ϭϱ ,/',
WZ/KZ/dz
>ŝƐƚƐƵƌƉůƵƐŝƚLJƉƌŽƉĞƌƚŝĞƐĨŽƌƐĂůĞŽƌůĞĂƐĞĂŶĚĐŽŶƐŝĚĞƌƉƌŽƉŽƐĂůƐ͘ ŝƚLJDĂŶĂŐĞƌ ŽŵƉůĞƚĞĚ ϮϬϮϮ
ŽƵŶĐŝůĞǀĂůƵĂƚĞĚƉƌŽƉŽƐĂůƐĨŽƌƚŚĞƉĂƌĐĞůĂƚǀĞŶŝĚĂ>ĂWĂƚĂĂŶĚsŝƐƚĂ,ĞƌŵŽƐĂŝŶYϯŽĨϮϬϮϬ͘dŚĞLJĂƌĞƌĞǀŝƐŝƚŝŶŐƚŚŝƐŝƚĞŵŝŶYϭŽĨϮϬϮϭ͘^ƚĂĨĨĂůƐŽŝƐƐƵĞĚĂŶZ&WĨŽƌƚŚĞĨŽƌŵĞƌŝƚLJ,ĂůůƐŝƚĞ;WƌĞƐŝĚŝŽƉƌŽƉĞƌƚLJͿ͘ŽƵŶĐŝůǁŝůůĞǀĂůƵĂƚĞƚŚŽƐĞƉƌŽƉŽƐĂůƐŝŶYϭϮϬϮϭĂƐǁĞůů͘

ATTACHMENT 4
137

>
D
Ed '
E
Z>W>E WK>/z /Dη  WZ/KZ/dz >
s
> /DW>
D
Edd/KED
^hZ

^Z/Wd/KE >

Wd͘ ^ddh^ ^ddh^EKd
^
'Ks
ZEE
;'Ϳ 'ͲϮ͘Ϭϭ͕'ͲϮ͘Ϭϰ ,/',
WZ/KZ/dz
hƉĚĂƚĞͬĞdžƚĞŶĚůĞĂƐĞƐĂƚŝƚLJƉƌŽƉĞƌƚŝĞƐŽƌƉƵƌƐƵĞŶĞǁƚĞŶĂŶƚƐĨŽƌĂŶLJǀĂĐĂŶĐŝĞƐĂƚŝƚLJƉƌŽƉĞƌƚŝĞƐ͘ ŝƚLJDĂŶĂŐĞƌ ŽŵƉůĞƚĞĚ ϮϬϮϮ

džƚĞŶĚĞĚůĞĂƐĞĂƚĨŽƌŵĞƌĐŚĂŵďĞƌůŽĐĂƚŝŽŶ͖ŽŶͲŐŽŝŶŐĞĨĨŽƌƚƐĨŽƌƐƵƌƉůƵƐůĂŶĚůĞĂƐĞŽƌƐĂůĞ͖ĐŽŶĐĞƐƐŝŽŶƉƌŽƉŽƐĂůƐĂƌĞĚƵĞ:ĂŶƵĂƌLJϮϬϮϮ͘ ^&
dz;^Ϳ ^Ͳϳ͘Ϭϭ ϭϴ ,/',
WZ/KZ/dz
ZĞƐƉŽŶĚƚŽŽǀŝĚͲϭϵďLJƉƌŽǀŝĚŝŶŐƐĂĨĞĨĂĐŝůŝƚŝĞƐĨŽƌĞŵƉůŽLJĞĞƐĂŶĚƚŚĞƉƵďůŝĐ͘ ŝƚLJDĂŶĂŐĞƌ ŽŵƉůĞƚĞĚ ϮϬϮϮ
'ůĂƐƐƐŚŝĞůĚƐŚĂǀĞďĞĞŶŝŶƐƚĂůůĞĚĂƚƚŚĞƉƵďůŝĐĐŽƵŶƚĞƌƐ͕ĂŶĚŚĂŶĚƐĂŶŝƚĂƚŝŽŶƐƚĂƚŝŽŶƐŚĂǀĞďĞĞŶŝŶƐƚĂůůĞĚĂƚŝƚLJ,Ăůů͘^ƚĂĨĨŚĂƐďĞĞŶĞŶĂďůĞĚƚŽǁŽƌŬƌĞŵŽƚĞůLJŽŶƌĞǀŽůǀŝŶŐƐĐŚĞĚƵůĞƐƚŽƌĞĚƵĐĞƚŚĞƌŝƐŬŽĨŽǀŝĚͲϭϵƚƌĂŶƐŵŝƐƐŝŽŶ͘ ^&
dz;^Ϳ ^Ͳϳ͘Ϭϭ͕^Ͳϳ͘ϬϮ͕^Ͳ
ϳ͘Ϭϯ͕^Ͳϳ͘Ϭϰ͕^Ͳ
ϳ͘Ϭϱ
,/',
WZ/KZ/dz
/ŵƉůĞŵĞŶƚĞŵĞƌŐĞŶĐLJŵĞĂƐƵƌĞƐƚŽĨĂĐŝůŝƚĂƚĞƉƵďůŝĐŚĞĂůƚŚĂŶĚďƵƐŝŶĞƐƐƐƵƉƉŽƌƚƚŚƌŽƵŐŚƚŚĞƉŽǁĞƌƐĂĨĨŽƌĚĞĚƚŽƚŚĞŝƌĞĐƚŽƌŽĨ ŵĞƌŐĞŶĐLJ^ĞƌǀŝĐĞƐĚƵƌŝŶŐƚŚĞŝƚLJ͛ƐĞĐůĂƌĞĚ>ŽĐĂů
ŵĞƌŐĞŶĐLJĚƵĞƚŽ
ƚŚĞŽǀŝĚͲϭϵƉĂŶĚĞŵŝĐ͘
ŝƚLJDĂŶĂŐĞƌ ŽŵƉůĞƚĞĚ ϮϬϮϮ
^&
dz;^Ϳ ^ͲϮ͘Ϭϲ ϱ >Kt
WZ/KZ/dz
KďƚĂŝŶĂŶĚŵĂŝŶƚĂŝŶŝŶĨŽƌŵĂƚŝŽŶŽŶĨůŽŽĚŝŶŐ͕ƚƐƵŶĂŵŝ͕ĂŶĚƐĞĂůĞǀĞůƌŝƐĞŚĂnjĂƌĚƐĂŶĚŵĂŬĞƚŚĞŝŶĨŽƌŵĂƚŝŽŶƉƵďůŝĐůLJĂǀĂŝůĂďůĞ͘ WƵďůŝĐtŽƌŬƐ ŽŵƉůĞƚĞĚ
ϮϬϮϭ
hƉĚĂƚĞĚƚŚĞǁĞďƐŝƚĞĂŶĚŝŶĨŽŽŶ&ůŽŽĚŝŶŐĂŶĚ&
DŵĂƉ͕dƐƵŶĂŵŝĂŶĚ^ĞĂ>ĞǀĞůZŝƐĞŚĂǀĞďĞĞŶƵƉĚĂƚĞĚĂŶĚƵƉůŽĂĚĞĚƚŽƚŚĞŝƚLJ͛ƐĞŵĞƌŐĞŶĐLJŵĂŶĂŐĞŵĞŶƚǁĞďƉĂŐĞ

KEKD/
s
>KWD
Ed;
Ϳ

Ͳϭ͘Ϭϯ ϭ ,/',
WZ/KZ/dz
ŽŶƐŝĚĞƌĞƐƚĂďůŝƐŚŝŶŐĂŶ
ĐŽŶŽŵŝĐĞǀĞůŽƉŵĞŶƚDĂŶĂŐĞƌWŽƐŝƚŝŽŶ͘dŚĞ
ĐŽŶŽŵŝĐĞǀĞůŽƉŵĞŶƚDĂŶĂŐĞƌŵĂLJďĞĂĨƵůůͲƚŝŵĞŽƌƉĂƌƚͲƚŝŵĞ ƉŽƐŝƚŝŽŶ͕ĨƵŶĚĞĚďLJƚŚĞďƵƐŝŶĞƐƐĐŽŵŵƵŶŝƚLJ͕ŽƌƚŚƌŽƵŐŚĂŵŝdžŽĨƉƵďůŝĐĂŶĚƉƌŝǀĂƚĞĨƵŶĚŝŶŐƐŽƵƌĐĞƐ͘ ŝƚLJDĂŶĂŐĞƌ ŽŵƉůĞƚĞĚ
ϮϬϮϬ
ZĞĐŽŐŶŝnjŝŶŐƚŚĞŝŵƉŽƌƚĂŶĐĞŽĨĐŽůůĂďŽƌĂƚŝŽŶǁŝƚŚƚŚĞďƵƐŝŶĞƐƐĐŽŵŵƵŶŝƚLJĚƵƌŝŶŐƚŚĞƉĂŶĚĞŵŝĐ͕ƚŚĞ/DƉƌŽǀŝƐŝŽŶĂůůLJĂƉƉŽŝŶƚĞĚĂŶ ĐŽŶŽŵŝĐĞǀĞůŽƉŵĞŶƚKĨĨŝĐĞƌ͘

KEKD/
s
>KWD
Ed;
Ϳ
ϭϴ ,/',
WZ/KZ/dz
ŽŽƌĚŝŶĂƚĞ/dŝŶĨƌĂƐƚƌƵĐƚƵƌĞŶĞĞĚƐƚŽĂůůŽǁĨŽƌƐƚĂĨĨƚŽǁŽƌŬƌĞŵŽƚĞůLJŝŶƌĞƐƉŽŶƐĞƚŽŽǀŝĚͲϭϵ͘ ŝƚLJDĂŶĂŐĞƌ ŽŵƉůĞƚĞĚ
ϮϬϮϬ
/ŶĂĚĚŝƚŝŽŶƚŽƉůĂŶŶĞĚƉƌŽũĞĐƚƐĨŽƌϮϬϮϬ͕ƚŚĞ/dŝǀŝƐŝŽŶĂůƐŽĂĚũƵƐƚĞĚƚŽƚŚĞŚĂƌĚǁĂƌĞ͕ƐŽĨƚǁĂƌĞ͕ĂŶĚĐŽŶŶĞĐƚŝǀŝƚLJŶĞĞĚƐŽĨŵĂŝŶƚĂŝŶŝŶŐŝƚLJƐĞƌǀŝĐĞƐĂŶĚƐƚĂĨĨŝŶŐƚŚƌŽƵŐŚƚŚĞƌĞŵŽƚĞǁŽƌŬŝŶŐĞŶǀŝƌŽŶŵĞŶƚŶĞĐĞƐƐŝƚĂƚĞĚďLJƚŚĞƉĂŶĚĞŵŝĐ͘

KEKD/
s
>KWD
Ed;
Ϳ

Ͳϱ͘Ϭϯ͕ϱ͘Ϭϲ ϭϳ >Kt
WZ/KZ/dz

ƐƚĂďůŝƐŚĂdĞĐŚŶŽůŽŐLJĚǀŝƐŽƌLJdĂƐŬ&ŽƌĐĞƚŽƐĞƌǀĞĂƐĂůŝĂŝƐŽŶ ďĞƚǁĞĞŶĐŽŵŵƵŶŝƚLJƐƚĂŬĞŚŽůĚĞƌƐ͕ƐƚĂĨĨĂŶĚĞůĞĐƚĞĚŽĨĨŝĐŝĂůƐĂŶĚƚŽ ŵĂŬĞƌĞĐŽŵŵĞŶĚĂƚŝŽŶƐƚŽƚŚĞŝƚLJŽƵŶĐŝůŽŶƚĞĐŚŶŽůŽŐLJŵĂƚƚĞƌƐ͘ ŝƚLJDĂŶĂŐĞƌ ŽŵƉůĞƚĞĚ
ϮϬϭϵ
KŶϲͬϭϴͬϭϵ͕ƚŚĞŝƚLJŽƵŶĐŝůƌĞǀŝĞǁĞĚŝƚƐĐŽŵŵŝƐƐŝŽŶƐĂŶĚĐŽŵŵŝƚƚĞĞƐĂŶĚĚĞĐŝĚĞĚŶŽƚƚŽƉƵƌƐƵĞĂƚĞĐŚŶŽůŽŐLJĂĚǀŝƐŽƌLJƚĂƐŬĨŽƌĐĞĂƚƚŚŝƐƚŝŵĞ͘ >Eh^
;>hͿ >hͲϭϮ ϭϳ ,/',
WZ/KZ/dz
hƉĚĂƚĞƚŚĞWŝĞƌŽǁů^ƉĞĐŝĨŝĐWůĂŶĨŽƌĐŽŶƐŝƐƚĞŶĐLJǁŝƚŚƚŚĞŶĞǁ'ĞŶĞƌĂůWůĂŶŽƌƌĞƚŝƌĞƚŚĞWůĂŶďLJƌĞůŽĐĂƚŝŶŐŝƚƐƵŶŝƋƵĞĚĞǀĞůŽƉŵĞŶƚ ƐƚĂŶĚĂƌĚƐƚŽƚŚĞŽŶŝŶŐKƌĚŝŶĂŶĐĞ͕ŝŶĐůƵĚŝŶŐƌĞƐŝĚĞŶƚŝĂůďƵŝůĚŝŶŐŚĞŝŐŚƚƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚ
ϮϬϭϵ
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϭ͘Ϭϰ ϭϭ >Kt
WZ/KZ/dz
sĂůŝĚĂƚĞĂŶĚŝŶĐŽƌƉŽƌĂƚĞĂDƵůƚŝͲDŽĚĂů>ĞǀĞůŽĨ^ĞƌǀŝĐĞ;>K^ͿŽƌŽƚŚĞƌŵĞƚƌŝĐƚŽĞǀĂůƵĂƚĞŵƵůƚŝͲŵŽĚĂůĨĂĐŝůŝƚŝĞƐƉĞƌĨŽƌŵĂŶĐĞŝŶƚŽĨƵƚƵƌĞƚƌĂĨĨŝĐ ƐƚƵĚŝĞƐ͘
WƵďůŝĐtŽƌŬƐ ŽŵƉůĞƚĞĚ
ϮϬϭϵ

ATTACHMENT 4
138

>
D
Ed '
E
Z>W>E WK>/z /Dη  WZ/KZ/dz >
s
> /DW>
D
Edd/KED
^hZ

^Z/Wd/KE >

Wd͘ ^ddh^ ^ddh^EKd
^
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϭ͘ϮϮ͕DͲϮ͘ϮϮ͕DͲϮ͘Ϯϯ͕DͲϮ͘ϮϰDͲϮ͘Ϯϵ
Ϯϯ >Kt
WZ/KZ/dz
ƐƐŝƐƚĞŵƉůŽLJĞƌƐŝŶŝŵƉůĞŵĞŶƚŝŶŐĂĐŽŵƉƌĞŚĞŶƐŝǀĞďŝĐLJĐůĞĂǁĂƌĞŶĞƐƐƉƌŽŐƌĂŵĨŽƌƚŚĞŝƌĞŵƉůŽLJĞĞƐ͘ WƵďůŝĐtŽƌŬƐ ŽŵƉůĞƚĞĚ
ϮϬϭϵ
KdŚĂƐĂďŝŬĞǁĞďƐŝƚĞ͗ŚƚƚƉƐ͗ͬͬǁǁǁ͘ŽĐƚĂ͘ŶĞƚͬŝŬĞͲDŽŶƚŚͲϮϬϭϵͬdŚĞǁĞďƐŝƚĞŝŶĐůƵĚĞƐƐĂĨĞƚLJƚŝƉƐĂŶĚĞŵƉůŽLJĞƌƌĞƐŽƵƌĐĞƐ͘ůŝŶŬƚŽƚŚĞKdǁĞďƉĂŐĞŝƐŽŶƚŚĞŝƚLJǁĞďƐŝƚĞ͘ŝƚLJ'/^ŵĂƉƚŽďĞĚĞǀĞůŽƉĞĚďLJ&zϮϬϮϮ͘ DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϮ͘Ϯϵ ϯϭ >Kt
WZ/KZ/dz
ŽůůĂďŽƌĂƚĞǁŝƚŚůŽĐĂůďƵƐŝŶĞƐƐĞƐ͕ďŝĐLJĐůĞƐŚŽƉƐ͕ŶŽŶͲƉƌŽĨŝƚƐ͕ƐĐŚŽŽůƐ͕ĂŶĚŐŽǀĞƌŶŵĞŶƚĂŐĞŶĐŝĞƐƚŽƉƌŽĚƵĐĞĂŶĚĚŝƐƚƌŝďƵƚĞďŝĐLJĐůĞĂŶĚƉĞĚĞƐƚƌŝĂŶƐĂĨĞƚLJŵĂƚĞƌŝĂůƐ͘ WƵďůŝĐtŽƌŬƐ ŽŵƉůĞƚĞĚ
ϮϬϭϵ
KdŚĂƐĂďŝŬĞǁĞďƐŝƚĞ͗ŚƚƚƉƐ͗ͬͬǁǁǁ͘ŽĐƚĂ͘ŶĞƚͬŝŬĞͲDŽŶƚŚͲϮϬϭϵͬdŚĞǁĞďƐŝƚĞŝŶĐůƵĚĞƐƐĂĨĞƚLJƚŝƉƐĂŶĚĞŵƉůŽLJĞƌƌĞƐŽƵƌĐĞƐ͘ůŝŶŬƚŽƚŚĞKdǁĞďƉĂŐĞŝƐŽŶƚŚĞŝƚLJǁĞďƐŝƚĞ͘ŝƚLJ'/^ŵĂƉƚŽďĞĚĞǀĞůŽƉĞĚďLJ&zϮϬϮϮ͘ 
,
^͕WZ<^͕EZ
Z
d/KE;WZͿ
WZͲϯ͘ϬϮ ϰϳ D
/hD
WZ/KZ/dz
/ŵƉůĞŵĞŶƚƚŚĞŝƚLJ͛ƐYƵŝĞƚŽŶĞͬZĂŝůƌŽĂĚ^ĂĨĞƚLJWƌŽŐƌĂŵ͘ WƵďůŝĐtŽƌŬƐ ŽŵƉůĞƚĞĚ ϮϬϭϵ
/ŶĨŽƌŵĂƚŝŽŶŝƐŵĂĚĞĂǀĂŝůĂďůĞƵƉŽŶƌĞƋƵĞƐƚ͘

,
^͕WZ<^͕EZ
Z
d/KE;WZͿ
WZͲϮ͘Ϭϰ͕WZͲϮ͘Ϭϱ
ϳ ,/',
WZ/KZ/dz
ƌĞĂƚĞĂĞĂĐŚĞƐ͕WĂƌŬƐĂŶĚZĞĐƌĞĂƚŝŽŶDĂƐƚĞƌWůĂŶǁŝƚŚŝŶƚǁŽLJĞĂƌƐ ŽĨ'ĞŶĞƌĂůWůĂŶĂĚŽƉƚŝŽŶĂŶĚƵƉĚĂƚĞŝƚĂƚůĞĂƐƚĞǀĞƌLJƚĞŶLJĞĂƌƐ͘ WZ ŽŵƉůĞƚĞĚ
ϮϬϭϴ
ĚŽƉƚĞĚďLJŽƵŶĐŝůŽŶϯͬϮϬͬϭϴ͘

,
^͕WZ<^͕EZ
Z
d/KE;WZͿ
WZͲϮ͘Ϭϭ ϭϬ ,/',
WZ/KZ/dz
WƌĞƉĂƌĞĂƉůĂŶǁŚŝĐŚŝĚĞŶƚŝĨŝĞƐƵŶĚĞƌƐĞƌǀĞĚĂƌĞĂƐŝŶƚĞƌŵƐŽĨƉĂƌŬƐĂŶĚƌĞĐƌĞĂƚŝŽŶĂůĨĂĐŝůŝƚŝĞƐĂŶĚƐĞĞŬŐƌĂŶƚƐŽƌŽƚŚĞƌĨƵŶĚŝŶŐƐŽƵƌĐĞƐƚŽŚĞůƉŝŵƉůĞŵĞŶƚƚŚĞƉůĂŶ͘ WZ ŽŵƉůĞƚĞĚ
ϮϬϭϴ
dŚĞWZDĂƐƚĞƌWůĂŶϮϬϭϴƉƌŽǀŝĚĞƐŝŶƐŝŐŚƚŽŶƵŶĚĞƌƐĞƌǀĞĚĂƌĞĂƐ͘ZĞǀŝĞǁŽĨŶĞǁĚŽŐĂĐĐĞƐƐŽƉƉŽƌƚƵŶŝƚŝĞƐǁŝůůďĞŝŶĐůƵĚĞĚŝŶϮϬϮϭ^ŝƚĞ^ƉĞĐŝĨŝĐDĂƐƚĞƌWůĂŶƐ 
,
^͕WZ<^͕EZ
Z
d/KE;WZͿ
WZͲϰ͘Ϭϰ ϭϳ ,/',
WZ/KZ/dz
tŽƌŬǁŝƚŚƉƌŝǀĂƚĞůĂŶĚŽǁŶĞƌƐƚŽŚĞůƉĞdžƉĂŶĚƚŚĞĐŽŵŵƵŶŝƚLJƚƌĂŝůƐŶĞƚǁŽƌŬďLJŵĂŬŝŶŐƉƌŝǀĂƚĞůLJͲŽǁŶĞĚƚƌĂŝůƐĂǀĂŝůĂďůĞĨŽƌƉƵďůŝĐƵƐĞ͘ WZ ŽŵƉůĞƚĞĚ
ϮϬϭϴ

,
^͕WZ<^͕EZ
Z
d/KE;WZͿ
WZͲϱ Ϯϭ >Kt
WZ/KZ/dz
/ŶĐŽƌƉŽƌĂƚĞŐŽůĨĐŽƵƌƐĞŵĂŶĂŐĞŵĞŶƚĂŶĚĚĞƐŝŐŶŝŵƉƌŽǀĞŵĞŶƚƐŝŶĨƵƚƵƌĞĞĂĐŚĞƐ͕WĂƌŬƐĂŶĚZĞĐƌĞĂƚŝŽŶŵĂƐƚĞƌƉůĂŶŶŝŶŐ͘ WZ ŽŵƉůĞƚĞĚ
ϮϬϭϴ
ϮϬϭϴWZDĂƐƚĞƌWůĂŶĞdžĐůƵĚĞƐŐŽůĨƐĞƌǀŝĐĞƐŐŝǀĞŶƚŚĞĚĞƐŝŐŶĂƚĞĚƵƐĞŽĨƚŚĞŐŽůĨĐŽƵƌƐĞůĂŶĚ͘ Wh>/^
Zs/
^͕
&/>/d/
^Ehd/>/d/
^;W^&hͿ
'ŽĂůϭ ϱ >Kt
WZ/KZ/dz

džƉůŽƌĞŽƉƉŽƌƚƵŶŝƚŝĞƐƚŽĞƐƚĂďůŝƐŚĂŶĞǁ^ĂŶůĞŵĞŶƚĞ^ĐŚŽŽůŝƐƚƌŝĐƚ͘ ŝƚLJDĂŶĂŐĞƌ ŽŵƉůĞƚĞĚ ϮϬϭϴ
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϮ͘Ϭϭ ϲ D
/hD
WZ/KZ/dz
tŽƌŬĐůŽƐĞůLJǁŝƚŚƚŚĞŽƵŶƚLJŽĨKƌĂŶŐĞ>ŝďƌĂƌLJ^LJƐƚĞŵĂŶĚ&ƌŝĞŶĚƐŽĨƚŚĞ^ĂŶůĞŵĞŶƚĞ>ŝďƌĂƌLJƚŽƵŶĚĞƌƐƚĂŶĚƚŚĞŝƌůŽĐĂůƐĞƌǀŝĐĞƐĂŶĚ ĨĂĐŝůŝƚŝĞƐŶĞĞĚƐ͘
ŝƚLJDĂŶĂŐĞƌ ŽŵƉůĞƚĞĚ
ϮϬϭϴ
ŝƚLJǁŽƌŬĞĚǁŝƚŚŽƵŶƚLJƚŽĨĂĐŝůŝƚĂƚĞĂŶĞdžƉĂŶƐŝŽŶŽĨƚŚĞůŝďƌĂƌLJ hZE
^/'E;hͿ hͲϱ͘ϬϮ
;hϱ͘ϭϭͿ
ϮϮ ,/',
WZ/KZ/dz
ZĞǀŝĞǁĂŶĚƵƉĚĂƚĞƚŚĞŽŶŝŶŐKƌĚŝŶĂŶĐĞĂŶĚĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐƚŽƌĞƋƵŝƌĞƚŚƌĞĞͲƐƚŽƌLJďƵŝůĚŝŶŐƐŝŶƚŚĞŽǁŶƚŽǁŶƚŽƌĞĨůĞĐƚŚŝŐŚͲƋƵĂůŝƚLJĚĞƐŝŐŶĂŶĚŵĂƚĞƌŝĂůƐĂŶĚƚŽƌĞŝŶĨŽƌĐĞ^ĂŶůĞŵĞŶƚĞ͛Ɛ^ƉĂŶŝƐŚsŝůůĂŐĞďLJƚŚĞ^ĞĂĂƌĐŚŝƚĞĐƚƵƌĂůĐŚĂƌĂĐƚĞƌ͘dŚƌĞĞͲƐƚŽƌLJďƵŝůĚŝŶŐƐƐŚĂůůƌĞƋƵŝƌĞŝƚLJŽƵŶĐŝůĂƉƉƌŽǀĂů͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚ
ϮϬϭϴ
/ŶϮϬϭϴ͕ĂƐƉĂƌƚŽĨƉŚĂƐĞϮnjŽŶŝŶŐƵƉĚĂƚĞƐ;ƐĞĞ/DηϭͿ͕njŽŶŝŶŐǁĂƐƵƉĚĂƚĞĚƚŽƌĞƋƵŝƌĞŽƵŶĐŝůĂƉƉƌŽǀĂůŽĨĂŽŶĚŝƚŝŽŶĂůhƐĞWĞƌŵŝƚƚŽĂůůŽǁƚŚŝƌĚƐƚŽƌLJŝŶĞůDĂƌͬdͲnjŽŶĞ;Dhϯ͘ϬnjŽŶĞͿǁŝƚŚƚŽƉŽĨƌŽŽĨŚĞŝŐŚƚŽĨϯϱΖͲϬΗĨŽƌƐŝƚĞƐǁŝƚŚƐůŽƉŝŶŐƚŽƉŽŐƌĂƉŚLJ͘

ATTACHMENT 4
139

>
D
Ed '
E
Z>W>E WK>/z /Dη  WZ/KZ/dz >
s
> /DW>
D
Edd/KED
^hZ

^Z/Wd/KE >

Wd͘ ^ddh^ ^ddh^EKd
^
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϰ͘Ϭϲ ϭϰĂ ,/',
WZ/KZ/dz
WƌĞƉĂƌĞĐŽŵƉƌĞŚĞŶƐŝǀĞƉĂƌŬŝŶŐĂŶĚĐŝƌĐƵůĂƚŝŽŶƐƚƌĂƚĞŐŝĞƐĨŽƌŬĞLJĐŽŵŵĞƌĐŝĂůĂƌĞĂƐ͕ŝŶĐůƵĚŝŶŐ͗EŽƌƚŚĞĂĐŚ͕ĞůDĂƌͬdͲŽŶĞĂŶĚKƵƚůĞƚƐĂƚ^ĂŶůĞŵĞŶƚĞ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚ
ϮϬϭϴ
tŝƚŚŽƵŶĐŝůĂƉƉƌŽǀĂůŽĨƚŚĞŽǁŶƚŽǁŶĂŶĚEŽƌƚŚĞĂĐŚƉĂƌŬŝŶŐƐƚƵĚŝĞƐ͕ƚŚĞWĂƌŬŝŶŐĐƚŝŽŶdĞĂŵ;WdͿǁĂƐĐƌĞĂƚĞĚƚŽĐŽŽƌĚŝŶĂƚĞŝŵƉůĞŵĞŶƚĂƚŝŽŶŽĨƚŚĞƐƚƵĚLJƌĞĐŽŵŵĞŶĚĂƚŝŽŶƐĂŶĚŽŶŐŽŝŶŐĂĐƚŝŽŶƐƚŽŝŵƉƌŽǀĞƉĂƌŬŝŶŐĂƐĂĐŽŵƉƌĞŚĞŶƐŝǀĞƐƚƌĂƚĞŐLJ͘WůĂnjĂ^ĂŶůĞŵĞŶƚĞƉĂƌŬŝŶŐǁĂƐĂŶĂůLJnjĞĚǁŝƚŚƚŚĞŝƚLJĂƉƉƌŽǀĂůŽĨƐŚĂƌĞĚƉĂƌŬŝŶŐ͘ K^d>;Ϳ ͲϮ͘ϭϬ ϭϰ ,/',
WZ/KZ/dz

ǀĂůƵĂƚĞ
ŶǀŝƌŽŶŵĞŶƚĂůůLJ^ĞŶƐŝƚŝǀĞ,ĂďŝƚĂƚƌĞĂƐ;
^,ƐͿƚŽĚĞƚĞƌŵŝŶĞƚŚĞŝƌǀŝĂďŝůŝƚLJ͕ƌĞƐƚŽƌĞĚĞŐƌĂĚĞĚ
^,Ɛ͕ƌĞŵŽǀĞ
^,ĚĞƐŝŐŶĂƚŝŽŶĨƌŽŵĂƌĞĂƐƚŚĂƚŶŽůŽŶŐĞƌĐŽŶƚĂŝŶĞŶǀŝƌŽŶŵĞŶƚĂůůLJƐĞŶƐŝƚŝǀĞŚĂďŝƚĂƚ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚ
ϮϬϭϴ
/ŶĐůƵĚĞĚŝŶĐĞƌƚŝĨŝĞĚ>ŽĐĂůŽĂƐƚĂůWƌŽŐƌĂŵ>ĂŶĚhƐĞWůĂŶ͘ ^,ŝŵƉĂĐƚƐĂƌĞĞǀĂůƵĂƚĞĚĂƐŶĞĐĞƐƐĂƌLJŝŶĐŽŵƉůŝĂŶĐĞǁŝƚŚƚŚĞ>hW͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϱ͘ϬϮ ϮϮ D
/hD
WZ/KZ/dz
ŽŶƚŝŶƵĞŝŵƉůĞŵĞŶƚĂƚŝŽŶŽĨĂƚŝĞƌĞĚǁĂƚĞƌƌĂƚĞƐƚƌƵĐƚƵƌĞƚŽŝŶĐĞŶƚŝǀŝnjĞǁĂƚĞƌĐŽŶƐĞƌǀĂƚŝŽŶ͘ hƚůŝƚŝĞƐ ŽŵƉůĞƚĞĚ
ϮϬϭϴ
ŽƐƚͲŽĨͲ^ĞƌǀŝĐĞƐƚƵĚLJǁĂƐĐŽŵƉůĞƚĞĚŝŶ&zϮϬϭϴĂŶĚƌĞƉůĂĐĞĚƚŝĞƌĞĚƌĂƚĞƐǁŝƚŚĂƵŶŝĨŽƌŵƌĂƚĞďĂƐĞĚŽŶĐƵƐƚŽŵĞƌĐůĂƐƐ͘ĞŵĂŶĚDĂŶĂŐĞŵĞŶƚZĂƚĞƐǁĞƌĞĞƐƚĂďůŝƐŚĞĚŝŶƚŚĞĞǀĞŶƚŽĨĂĚƌŽƵŐŚƚŽƌŵĂũŽƌǁĂƚĞƌƐƵƉƉůLJĐŚĂůůĞŶŐĞ͘ DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϭ͘ϮϭͲϮϮDͲϮ͘ϭϮ͕Ϯ͘ϭϵ͕ĞƚĐ
ϳ ,/',
WZ/KZ/dz
hƉĚĂƚĞƚŚĞDƵŶŝĐŝƉĂůŽĚĞƚŽƌĞƋƵŝƌĞĞŶĚŽĨƚƌŝƉďŝĐLJĐůĞĨĂĐŝůŝƚŝĞƐ͕ĂƐĂƉƉƌŽƉƌŝĂƚĞƚŽƚŚĞƐĐĂůĞĂŶĚƵƐĞŽĨƚŚĞƉƌŽũĞĐƚ͕ƐƵĐŚĂƐƉĂƌŬŝŶŐ͕ůŽĐŬĞƌƐ͕ĂŶĚƐŚŽǁĞƌƐŝŶŶĞǁŽƌŵĂũŽƌƌĞŵŽĚĞůƐŽĨŶŽŶͲƌĞƐŝĚĞŶƚŝĂůƐŝƚĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚ
ϮϬϭϳ
dŚĞϮϬϭϲĂůŝĨŽƌŶŝĂ'ƌĞĞŶƵŝůĚŝŶŐŽĚĞĂĚĚĞĚďŝĐLJĐůĞƉĂƌŬŝŶŐƐƚĂŶĚĂƌĚƐƚŚĂƚǁĞŶƚŝŶƚŽĞĨĨĞĐƚŝŶϮϬϭϳ͘tŝƚŚŽƵŶĐŝůĚŝƌĞĐƚŝŽŶ͕ƚŚŝƐŝƐƐƵĞĐĂŶďĞƌĞǀŝĞǁĞĚĂŶĚĂĚĚƌĞƐƐĞĚĨƵƌƚŚĞƌĂĨƚĞƌŽŶŝŶŐĂŶĚ^ƉĞĐŝĨŝĐWůĂŶƵƉĚĂƚĞƐĨŽƌ'ĞŶĞƌĂůWůĂŶĐŽŶƐŝƐƚĞŶĐLJĂŶĚĨŽůůŽǁŝŶŐƚŚĞ>W͕ďĂƐĞĚŽŶƌĞƐŽƵƌĐĞƐ͘ >Eh^
;>hͿ >hͲϭ͘ϬϮ ϯ D
/hD
WZ/KZ/dz
ŽŶƐŝĚĞƌĂĐŽŵŵƵŶŝƚLJͲƐĞƌǀŝŶŐƐŚƵƚƚůĞŽƌƚƌŽůůĞLJƚLJƉĞƚƌĂŶƐŝƚƐLJƐƚĞŵƚŚĂƚĐŽŶŶĞĐƚƐ^ĂŶůĞŵĞŶƚĞ͛ƐŬĞLJĚĞƐƚŝŶĂƚŝŽŶĂƌĞĂƐ;Ğ͘Ő͕͘EŽƌƚŚĞĂĐŚ͕ ĞůDĂƌͬdͲŽŶĞ͕DĂƌďůĞŚĞĂĚ͕WŝĞƌŽǁůĂŶĚWŝĞƌͿĂŶĚƌĞƐŝĚĞŶƚŝĂůĂƌĞĂƐǁŝƚŚƉƵďůŝĐ ƚƌĂŶƐŝƚĂŶĚďŝĐLJĐůĞƌŽƵƚĞƐ͘
WƵďůŝĐtŽƌŬƐ ŽŵƉůĞƚĞĚ
ϮϬϭϳ
dƌŽůůĞLJƐƵĐĞƐƐĨƵůůLJĐŽŵƉůĞƚĞĚĨŝƌƐƚLJĞĂƌŽƉĞƌĂƚŝŽŶŝŶ^ƵŵŵĞƌϮϬϭϳĂŶĚǁŝůůŽƉĞƌĂƚĞĂŶŶƵĂůůLJŝŶƐƵŵŵĞƌĨŽƌŶĞdžƚϲLJĞĂƌƐƉĞƌĞdžŝƐƚŝŶŐŐƌĂŶƚĂŐƌĞĞŵĞŶƚǁŝƚŚKd͘ƵĞƚŽŽŶŐŽŝŶŐŶĂƚƵƌĞŽĨǁŽƌŬŐŽŝŶŐĨŽƌǁĂƌĚ͕ŝŶŶĞdžƚ^/WƵƉĚĂƚĞƐƚĂĨĨǁŝůůƌĞĐŽŵŵĞŶĚĐŚĂŶŐŝŶŐƉƌŝŽƌŝƚLJƚŽŽŶŐŽŝŶŐ͘ DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϭ͘ϮϱͲϮϵ ϱď D
/hD
WZ/KZ/dz
/ŵƉůĞŵĞŶƚƚŚĞĂŵŝŶŽĞůZŝŽƌŽĂĚǁĂLJĞdžƚĞŶƐŝŽŶŝŵƉƌŽǀĞŵĞŶƚƐďĂƐĞĚŽŶƚŚĞDŽďŝůŝƚLJ ůĞŵĞŶƚĂŶĚŽŵƉůĞƚĞ^ƚƌĞĞƚƐZŽĂĚǁĂLJƐDĂƉĂŶĚƐƵďũĞĐƚƚŽĚĞƐŝŐŶͬĞŶǀŝƌŽŶŵĞŶƚĂůƐƚƵĚŝĞƐ͘ WƵďůŝĐtŽƌŬƐ ŽŵƉůĞƚĞĚ
ϮϬϭϳ
ŽŵƉůĞƚĞĚǁŝƚŚŽƵŶĐŝůĚŝƌĞĐƚŝŽŶƐĞƉĂƌĂƚĞĨƌŽŵ^/W͘ĞůZŝŽĐŽŶŶĞĐƚŝŽŶŽƉĞŶĞĚƚŽƚƌĂĨĨŝĐŝŶ:ĂŶƵĂƌLJϮϬϭϳ͘

ATTACHMENT 4
140

>
D
Ed '
E
Z>W>E WK>/z /Dη  WZ/KZ/dz >
s
> /DW>
D
Edd/KED
^hZ

^Z/Wd/KE >

Wd͘ ^ddh^ ^ddh^EKd
^
DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϭ͘ϬϴͲϬϵDͲϮ͘ϬϴͲϮ͘ϭϬ
ϭϬ D
/hD
WZ/KZ/dz
tŚĞŶĂŶĚǁŚĞƌĞĂƉƉƌŽƉƌŝĂƚĞ͕ƉƌĞƉĂƌĞĂĨĞĂƐŝďŝůŝƚLJƐƚƵĚLJĨŽƌĂĐŽŵŵƵŶŝƚLJͲƐĞƌǀŝŶŐƚƌŽůůĞLJƚLJƉĞƚƌĂŶƐŝƚƐLJƐƚĞŵƚŚĂƚĐŽŶŶĞĐƚƐ^ĂŶůĞŵĞŶƚĞ͛ƐŬĞLJĚĞƐƚŝŶĂƚŝŽŶĂƌĞĂƐ;Ğ͘Ő͕͘EŽƌƚŚĞĂĐŚ͕ĞůDĂƌͬdͲŽŶĞ͕ DĂƌďůĞŚĞĂĚŽĂƐƚĂů͕WŝĞƌŽǁůͿĂŶĚƌĞƐŝĚĞŶƚŝĂůĂƌĞĂƐǁŝƚŚƉƵďůŝĐƚƌĂŶƐŝƚĂŶĚďŝĐLJĐůĞƌŽƵƚĞƐ͘ WƵďůŝĐtŽƌŬƐ ŽŵƉůĞƚĞĚ
ϮϬϭϳ
ŽǁŶƚŽǁŶƚƌŽůůĞLJƐƚĂƌƚĞĚ^ƵŵŵĞƌϮϬϭϳ͘WůĂŶŶĞĚĞdžƉĂŶƐŝŽŶƚŽĐŽŶŶĞĐƚƚŽĂŶĂWŽŝŶƚǁŝůůƐƚĂƌƚ^ƵŵŵĞƌϮϬϭϵ͘ >Eh^
;>hͿ >hͲϭϬ͘ϭϬ͕ϭϯ͘Ϭϭ ϭϲ ,/',
WZ/KZ/dz
ŽŶƐŝĚĞƌŝŵƉƌŽǀĞŵĞŶƚƐƚŽŽƵƌĂůůĞLJǁĂLJƐĂŶĚƉĂƐĞŽƐƚŽƉƌŽǀŝĚĞĂůƚĞƌŶĂƚŝǀĞƉĞĚĞƐƚƌŝĂŶĂŶĚďŝĐLJĐůĞƌŽƵƚĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚ
ϮϬϭϲ
WĂƐĞŽĂŶĚĂůůĞLJŵĂƐƚĞƌƉůĂŶĂĚŽƉƚĞĚŝŶϮϬϭϲ͘WůĂŶŝŵƉůĞŵĞŶƚĂƚŝŽŶͬĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚWƌŽũĞĐƚƐĐŽŶƐŝĚĞƌĞĚŝŶĂŶŶƵĂů/WĂŶĚďƵĚŐĞƚƉƌŽĐĞƐƐ͘ DK/>/dzEKDW>
d
^dZ

d^;DͿ
DͲϭ͘ϮϱͲϮϵ ϱĂ ,/',
WZ/KZ/dz
/ŵƉůĞŵĞŶƚƚŚĞ>ĂWĂƚĂƌŽĂĚǁĂLJĞdžƚĞŶƐŝŽŶŝŵƉƌŽǀĞŵĞŶƚƐďĂƐĞĚŽŶƚŚĞDŽďŝůŝƚLJ ůĞŵĞŶƚĂŶĚŽŵƉůĞƚĞ^ƚƌĞĞƚƐZŽĂĚǁĂLJƐDĂƉ
ĂŶĚƐƵďũĞĐƚƚŽĚĞƐŝŐŶͬĞŶǀŝƌŽŶŵĞŶƚĂůƐƚƵĚŝĞƐ͗
WƵďůŝĐtŽƌŬƐ ŽŵƉůĞƚĞĚ
ϮϬϭϲ
ŽŵƉůĞƚĞĚǁŝƚŚŽƵŶĐŝůĚŝƌĞĐƚŝŽŶƐĞƉĂƌĂƚĞĨƌŽŵ^/W͘>ĂWĂƚĂ'ĂƉůŽƐƵƌĞĐŽŵƉůĞƚĞĚĂŶĚŽƉĞŶĞĚƚŽƚƌĂĨĨŝĐŝŶƵŐƵƐƚϮϬϭϲ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϴ͘ϬϮ ϯϲ >Kt
WZ/KZ/dz

ƐƚĂďůŝƐŚĂƐƚƌĂƚĞŐŝĐƉůĂŶĂŶĚƉƵďůŝĐŽƵƚƌĞĂĐŚĐĂŵƉĂŝŐŶƚŽĞdžĐĞĞĚƐŽůŝĚǁĂƐƚĞĚŝǀĞƌƐŝŽŶƌĞƋƵŝƌĞŵĞŶƚƐŽĨϵϯϵ͕ŝŶĐůƵĚŝŶŐǁĂƐƚĞĐƌĞĂƚĞĚďLJĐŽŶƐƚƌƵĐƚŝŽŶĂŶĚĚĞŵŽůŝƚŝŽŶĂĐƚŝǀŝƚŝĞƐ͘ hƚůŝƚŝĞƐ ŽŵƉůĞƚĞĚ
ϮϬϭϲ
/ŵƉůĞŵĞŶƚĞĚĂŶŽƌŐĂŶŝĐƐĐŽůůĞĐƚŝŽŶƉƌŽŐƌĂŵŝŶϮϬϭϲ͘
Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϮ͘Ϭϲ ϳ ,/',
WZ/KZ/dz
tŽƌŬǁŝƚŚƚŚĞŽƵŶƚLJŽĨKƌĂŶŐĞƚŽĞdžƉĞĚŝƚĞƚŚĞĞdžƉĂŶƐŝŽŶŽĨ^ĂŶůĞŵĞŶƚĞ͛ƐWƵďůŝĐ>ŝďƌĂƌLJŝŶƚŽƚŚĞĨŽƌŵĞƌ^ĞŶŝŽƌŝƚŝnjĞŶ͛ƐĞŶƚĞƌĂŶĚƚŽŝŶĐůƵĚĞƐƚĂƚĞͲŽĨͲƚŚĞͲĂƌƚƚĞĐŚŶŽůŽŐLJĂŶĚĨĂĐŝůŝƚŝĞƐ͘ ŝƚLJDĂŶĂŐĞƌ ŽŵƉůĞƚĞĚ
ϮϬϭϱ
ŽŵƉůĞƚĞĚŝŶϮϬϭϱ͘
>Eh^
;>hͿ ^Ͳϳ͘Ϭϭ͕^Ͳϳ͘ϬϮ͕^Ͳ
ϳ͘Ϭϯ͕^Ͳϳ͘Ϭϰ͕^Ͳϳ͘Ϭϱ
ϭĂ ,/',
WZ/KZ/dz
hƉĚĂƚĞƚŚĞŽŶŝŶŐKƌĚŝŶĂŶĐĞĂŶĚŽŶŝŶŐDĂƉĨŽƌĐŽŶƐŝƐƚĞŶĐLJǁŝƚŚƚŚĞ ĞŶƚĞŶŶŝĂů'ĞŶĞƌĂůWůĂŶ͘
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚ
ϮϬϭϱ
/ŶϮϬϭϱ͕ĐŽŵŵĞƌĐŝĂůĂŶĚŵŝdžĞĚͲƵƐĞ
ŽŶŝŶŐĚŝƐƚƌŝĐƚƐ͕ĂŶĚƚŚĞŽŶŝŶŐDĂƉǁĞƌĞƵƉĚĂƚĞĚ͘/ŶϮϬϭϴ͕njŽŶŝŶŐƵƉĚĂƚĞƐǁĞƌĞĨŝŶŝƐŚĞĚƚŽŵĂŬĞŽŶŝŶŐĐŽŶƐŝƐƚĞŶƚǁŝƚŚƚŚĞ'ĞŶĞƌĂůWůĂŶĂŶĚŝŶǀŽůǀĞĚĐĞƌƚŝĨLJŝŶŐƚŚĞ>ĂŶĚhƐĞWůĂŶ;>hWͿƉĂƌƚŽĨƚŚĞ>W͘ >Eh^
;>hͿ ϭϭ͘ϬϮͲϬϯ͕ϭϮ͘ϬϮ͕
ϭϮ͘Ϭϳ͕ϭϰ͘Ϭϳ
Ϯϭ ,/',
WZ/KZ/dz
ƌĞĂƚĞŶĞǁĚĞǀĞůŽƉŵĞŶƚƐƚĂŶĚĂƌĚƐĨŽƌŵŝdžĞĚƵƐĞ͕ŝŶĐůƵĚŝŶŐƐƚĂŶĚͲĂůŽŶĞĐŽƌƌŝĚŽƌƌĞƐŝĚĞŶƚŝĂůƵƐĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚ
ϮϬϭϱ
ŽŵƉůĞƚĞĚŝŶϮϬϭϱǁŝƚŚWŚĂƐĞϭŽĨ
ŽŶŝŶŐƵƉĚĂƚĞ͘
>Eh^
;>hͿ >hͲϭϯ͘Ϭϰ Ϯϰ D
/hD
WZ/KZ/dz
^ƚĂĨĨǁŝůůƉƌĞƉĂƌĞĂŶĚŝŵƉůĞŵĞŶƚĂƉƵďůŝĐǀŝĞǁĐŽƌƌŝĚŽƌƉůĂŶƚŚĂƚǁŝůů ďĞƵƐĞĚƚŽŚĞůƉŵĂŝŶƚĂŝŶĂŶĚƌĞƐƚŽƌĞŽĐĞĂŶǀŝĞǁƐĨƌŽŵƚŚĞ/Ͳϱ&ƌĞĞǁĂLJ͕ďLJƌĞǀŝĞǁŝŶŐĚĞǀĞůŽƉŵĞŶƚĨŽƌŝƚƐǀŝƐƵĂůĞĨĨĞĐƚƐ͕ŝŶĐůƵĚŝŶŐ͕ďƵƚ ŶŽƚůŝŵŝƚĞĚƚŽŶĞǁďƵŝůĚŝŶŐƐ͕ƐŝŐŶƐĂŶĚŶŽŝƐĞǁĂůůƐ
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚ
ϮϬϭϱ
/ŶWŚĂƐĞϭŽĨŽŶŝŶŐƵƉĚĂƚĞ͕/ͲϱĨƌĞĞǁĂLJŽĐĞĂŶǀŝĞǁƐǁĞƌĞĂŶĂůLJnjĞĚĂŶĚŝŶƚĞƌŝŵĚĞƐŝŐŶŐƵŝĚĞůŝŶĞƐǁĞƌĞĂĚŽƉƚĞĚĨŽƌŵŝdžĞĚͲƵƐĞnjŽŶĞ;Dhϯ͘ϮͿŽŶ^͘ ůĂŵŝŶŽZĞĂů͘tŝƚŚŽƵŶĐŝůĚŝƌĞĐƚŝŽŶ͕ŝƐƐƵĞĐĂŶďĞƌĞǀŝĞǁĞĚĂŶĚĂĚĚƌĞƐƐĞĚĨƵƌƚŚĞƌĂĨƚĞƌŽŶŝŶŐĂŶĚ^ƉĞĐŝĨŝĐWůĂŶƵƉĚĂƚĞƐ͕ďĂƐĞĚŽŶƌĞƐŽƵƌĐĞƐ͘

ATTACHMENT 4
141

>
D
Ed '
E
Z>W>E WK>/z /Dη  WZ/KZ/dz >
s
> /DW>
D
Edd/KED
^hZ

^Z/Wd/KE >

Wd͘ ^ddh^ ^ddh^EKd
^
hZE
^/'E;hͿ hͲϱ͘Ϭϰ͕>hͲ
ϭϭ͘Ϭϯ
ϴ D
/hD
WZ/KZ/dz
ŽŶƐŝĚĞƌĂŵĞŶĚŝŶŐƚŚĞĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐƚŽĚŝƌĞĐƚďƵŝůĚŝŶŐŵĂƐƐĂŶĚ ƐĐĂůĞ͕ƉƌĞƐĞƌǀĞǀŝĞǁƐŽĨƚŚĞŽĐĞĂŶĨƌŽŵ/ŶƚĞƌƐƚĂƚĞͲϱ͕ĂŶĚĂĚĚƌĞƐƐ ĐŽŵƉĂƚŝďŝůŝƚLJďĞƚǁĞĞŶďƵŝůĚŝŶŐƐƚŚĂƚďĂĐŬŽŶƚŽĂůůĞLJƐĂĚũĂĐĞŶƚƚŽ^ŽƵƚŚ

ůĂŵŝŶŽZĞĂů͕ƐƉĞĐŝĨŝĐĂůůLJĂĚĚƌĞƐƐŝŶŐƚƌĂŶƐŝƚŝŽŶĂƌĞĂƐĂŶĚƚŚĞŝŶƚĞƌĨĂĐĞďĞƚǁĞĞŶĐŽŵŵĞƌĐŝĂůŽƌŵŝdžĞĚͲƵƐĞĂŶĚƌĞƐŝĚĞŶƚŝĂůƵƐĞƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚ
ϮϬϭϱ
/ŶϮϬϭϱ͕ƚŚĞŝƚLJĂĚŽƉƚĞĚŝŶƚĞƌŝŵĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐĨŽƌ^͘ ůĂŵŝŶŽZĞĂůDhϯ͘ϮŽŶĞƚŚĂƚĂĚĚƌĞƐƐĂůůĞLJƚƌĂŶƐŝƚŝŽŶƐĂŶĚŽĐĞĂŶǀŝĞǁƐĨƌŽŵƚŚĞĨƌĞĞǁĂLJ͘dŚĞŝŶƚĞƌŝŵŐƵŝĚĞůŝŶĞƐǁŝůůďĞĐŽŶƐŝĚĞƌĞĚĂŶĚĨŽůĚĞĚŝŶƚŽĂĨƵƚƵƌĞŽǀĞƌĂůůƵƉĚĂƚĞŽĨƚŚĞŝƚLJĞƐŝŐŶ'ƵŝĚĞůŝŶĞƐ͘ EdhZ>Z
^KhZ
^;EZͿ
EZͲϮ͘Ϭϵ ϵ ,/',
WZ/KZ/dz
ŽŶĚƵĐƚĂsŝƐƵĂůZĞƐŽƵƌĐĞƐƐĞƐƐŵĞŶƚƚŽŝĚĞŶƚŝĨLJWƵďůŝĐsŝĞǁŽƌƌŝĚŽƌƐĂŶĚƐƉĞĐŝĨŝĐƐĞĐƚŝŽŶƐŽĨƚŚĞŽƌƌŝĚŽƌƐŵĞƌŝƚŝŶŐĚĞƐŝŐŶĂƚŝŽŶĂŶĚĐŽŶƐŝĚĞƌ ĞdžƉĂŶĚŝŶŐƚŚĞůŝƐƚŽĨƚŚĞĚĞƐŝŐŶĂƚĞĚsŝĞǁŽƌƌŝĚŽƌƐĂƐĂƌĞƐƵůƚŽĨƚŚĞƐƐĞƐƐŵĞŶƚ͛ƐĨŝŶĚŝŶŐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚ
ϮϬϭϱ
sŝĞǁĐŽƌƌŝĚŽƌƐǁĞƌĞĚĞƐŝŐŶĂƚĞĚŝŶ'ĞŶĞƌĂůWůĂŶĂƐĂŶĞdžŚŝďŝƚ͘tŝƚŚŽƵŶĐŝůĚŝƌĞĐƚŝŽŶ͕ǀŝĞǁĐŽƌƌŝĚŽƌƉŽůŝĐŝĞƐĂŶĚͬŽƌĐŽƌƌŝĚŽƌĚĞƐŝŐŶĂƚŝŽŶƐĐĂŶďĞƌĞĞǀĂůƵĂƚĞĚ͘ K^d>;Ϳ Ͳϯ͘ϬϮ ϭϬ >Kt
WZ/KZ/dz
ĞǀĞůŽƉĂ'/^ͲďĂƐĞĚŵĂƉŽĨƐŝŐŶŝĨŝĐĂŶƚĚĞƐŝŐŶĂƚĞĚƐĐĞŶŝĐǀŝĞǁĐŽƌƌŝĚŽƌƐĂŶĚƐŝŐŶŝĨŝĐĂŶƚƉƵďůŝĐǀŝĞǁƐ͘ ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ
ŽŵƉůĞƚĞĚ
ϮϬϭϱ
'/^ͲďĂƐĞĚǀŝĞǁĐŽƌƌŝĚŽƌƐŵĂƉǁĂƐĂĚŽƉƚĞĚŝŶ'ĞŶĞƌĂůWůĂŶ͘ƐƌĞƐŽƵƌĐĞƐďĞĐŽŵĞĂǀĂŝůĂďůĞ͕ĂĚLJŶĂŵŝĐǁĞďͲďĂƐĞĚ'/^ǁĞďŵĂƉƚŽďĞƉƵďůŝƐŚĞĚŽŶǁĞďƐŝƚĞ͘ Wh>/^
Zs/
^͕&/>/d/
^Ehd/>/d/
^;W^&hͿ
W^&hͲϵ͘Ϭϯ ϰϭ D
/hD
WZ/KZ/dz
dƌĂŶƐŝƚŝŽŶƚŽůŝŐŚƚĞŵŝƚƚŝŶŐĚŝŽĚĞƚƌĂĨĨŝĐƐŝŐŶĂůůŝŐŚƚďƵůďƐĂŶĚ ƉĞĚĞƐƚƌŝĂŶĐƌŽƐƐŝŶŐƐŝŐŶĂůƐ͘
WƵďůŝĐtŽƌŬƐ ŽŵƉůĞƚĞĚ
ϮϬϭϰ
ŽŶƚŝŶƵĞƚŽƐĞĞŬŐƌĂŶƚĨƵŶĚƐ͘

ATTACHMENT 4
142
ATTACHMENT 5
143
RESOLUTION NO. PC 23-005

A RESOLUTION OF THE PLANNING COMMISSION OF

THE CITY OF SAN CLEMENTE, CALIFORNIA,

RECOMMENDING THAT THE CITY COUNCIL APPROVE

THE GENERAL PLAN STRATEGIC IMPLEMENTATION
PROGRAM (SIP) FOR FISCAL YEAR 2023-2024
WHEREAS, the State of California requires cities to have an adopted General Plan to provide guidance on land use decisions; and
WHEREAS, on February 4, 2014, the City Council approved the Centennial General Plan, dated February 2014, and certified Final Environmental Impact Report (FEIR), State Clearinghouse (SCH) No. 2013041021, mitigation ·monitoring program, and statements of overriding consideration;
WHEREAS, the City of San Clemente Centennial General Plan ("General Plan") is the City's comprehensive long-term policy document comprised of goals and policies for achieving San Clemente's vision. The plan guides land use and physical development of the geographic area of the incorporated City limits; and WHEREAS, the General Plan contains the seven State-required elements and six additional elements, as follows: 1) Land Use; 2) Urban Design; 3) Historic Preservation; 4) Economic Development; 5) Mobility and Complete Streets; 6) Housing, 7) Beaches, Parks and Recreation; 8) Natural Resources; 9) Coastal; 10) Safety; 11) Public Services, Facilities and Utilities; 12) Growth Management; and 13) Governance; and
WHEREAS, each General Plan Element has goals and policies that are intended to achieve specific objectives. The City's General Plan Strategic Implementation Program (SIP), updated each fiscal year with the budget, lists and prioritizes specific projects and ongoing programs or Implementation Measures that align with goals and policies in General Plan Elements, excluding Housing. For the Housing Element, implementation measures are included in a Housing Action Plan certified by the California Department of Housing and Community Development ("HCD") with the Housing Element; and
WHEREAS, the City has prepared a SIP for Fiscal Year 2023-2024 ("FY2023-24 SIP") to achieve the goals and policies of the General Plan; and WHEREAS, the Planning Division completed an environmental assessment on the FY2023-24 SIP according to the California Environmental Quality Act (CEQA), and recommends that the Planning Commission finds the FY2023-24 SIP does not require further environmental analysis because the FY2023-24 SIP: 1) is not a "project" within the meaning of the term in State CEQA Guidelines Section 15378, and 2) is exempt under Section 15061(b)(3), the general rule exemption; and
144
Resolution No. 23-005 Page2
WHEREAS, on April 19, 2023, the Planning Commission of the City of San Clemente held a public meeting on the FY2023-24 SIP, considered written and oral comments, and facts and evidence presented by City staff, and other interested parties.

The FY2023-24 SIP is Exhibit A and Exhibit B incorporated herein by reference.

NOW, THEREFORE, the Planning Commission of the City of San Clemente does hereby resolve as follows: -
Section 1. Incorporation of Recitals.

The Planning Commission hereby finds that all of the facts in the Recitals are true and correct and are incorporated and adopted as findings of the Planning Commission as fully set forth in this resolution.

Section 2. CEQA Findings.

Based upon its review of the entire record, including the Staff Report, any public comments or testimony presented to the Planning Commission, and the facts outlined below, the Planning Commission hereby finds the FY2023-24 SIP does not require further environmental analysis because the FY2023-24 SIP: 1) is not a "project" within the meaning of the term in State CEQA Guidelines Section 15378, and 2) is exempt under Section 15061(b)(3), the general rule exemption. The FY2023-24 SIP is limited to an organizational and administrative government activity to list and prioritize General Plan implementation measures, evaluate progress, and to direct resources through the budget process to meet City goals. General Plan implementation activities are separately processed and evaluated according to CEQA.

Section 3. General Plan Consistency Findings
The Planning Commission hereby finds that the FY2023-24 SIP is consistent with the Centennial General Plan and the Plan's goal to achieve continuous progress in implementing the City's Five-Year "Strategic Implementation Program", in that:

A. The SIP is a set of implementation measures to ensure the goals and policies of the Centennial General Plan are carried out over a long period of time through the implementation of day-to-day activities and short-term actions; B. The SIP will help evaluate policies, procedures, and projects to ensure that they are working towards the goals and policies set forth in the Centennial General Plan;
C. The SIP will help identify projects to be included in the annual budget, based on yearly evaluation of priorities, to ensure appropriate funding, resources, and time are given to implement the various implementation measures; 145
Resolution No. 23-005 Page 3
D. The SIP will help make the Centennial General Plan a "living document" that is able to evolve over time and respond to the changing needs of the community over time;
E. Consistent with the Governance Element, the SIP assists City Council in preparing the Long Term Financial Plan and Strategic Priorities to implement the General Plan priority actions in a timely manner; and
F. Consistent with the Governance Element, the SIP completes the City's objective in tracking and reporting progress with achieving the goals of the Centennial General Plan by evaluating the effectiveness of Implementation Measures and by complying with State requirements to prepare a City-wide Annual Progress Report.

Section 4. Approval of FY2023-24 Strategic Implementation Program Based on the entire record, including all written and oral evidence presented to the Planning Commission, and the findings made and evidence discussed in the Staff Report and this Resolution, the Planning Commission hereby recommends the City Council approve the FY2023-24 SIP set forth in Exhibit A and Exhibit B incorporated herein by reference.

PASSED AND ADOPTED at a regular meeting of the City of San Clemente Planning Commission on April 19, 2023.
~ . Scott McKhann, Chair
CERTIFICATION:

I HEREBY CERTIFY this Resolution was adopted at a regular meeting of the City of San Clemente Planning Commission on April 19, 2023, carried by the following roll call vote:

AYES:

NOES:

ABSTAIN:

ABSENT:

Jona
COMMISSIONERS: Camp, Mccaughan, Cosgrove and McKhann
COMMISSIONERS:

COMMISSIONERS:

COMMISSIONERS: Davis, Crandell and Prescott-Loeffler
ing Secretary of the Planning Commission
146
These minutes will be considered for approval at the Planning Commission meeting of 05-03-2023.

MINUTES OF THE REGULAR MEETING

OF THE CITY OF SAN CLEMENTE

PLANNING COMMISSION
April 19, 2023 @6:00 p.m.

San Clemente City Hall Council Chambers
910 Calle Negocio, San Clemente, CA 92673
Teleconference via www.san-clemente.org/live or Cox Channel 854

CALL TO ORDER
Chair McKhann called the Regular Meeting of the Planning Commission of the City of San Clemente to order at 6:00 p_m. The meeting was offered in person at San Clemente City Hall Council Chambers, 910 Calle Negocio, San Clemente, California, 92673, and also via live stream from the City's YouTube Channel or live on Cox Channel 854.

2. PLEDGE OF ALLEGIANCE
Chair pro tern Camp led the Pledge of Allegiance.

3. ROLL CALL
Commissioners Present: Gary P_ McCaughan, M.D., Chair pro tern M. Steven Camp, Vice Chair Cameron Cosgrove, Chair Scott McKhann
Commissioners Absent: Barton Crandell, Brent Davis, Karen Prescott-Loeffler, Staff Present: Jonathan Lightfoot, Economic Development Officer, (Acting Planning Commission Secretary)
Laura Coury, Assistant Planner
Kyle Webber, Assistant Planner
Christopher Wright, Associate Planner II
Elizabeth Mitchell, City Attorney
Eileen White, Recording Secretary
On a 4-0 straw vote, the Commission voted to rearrange the agenda. These minutes reflect the order in which items appeared on the meeting agenda and do not necessarily reflect the order in which items were actually considered.

4. SPECIAL ORDERS OF BUSINESS
None
147
Minutes of Regular Planning Commission Meeting of April 19, 2023 Page 5 choice to install story poles or utilize computer programs; requiring thirdparty certification of the simulation results; or only requiring story poles/computer simulations if requesting a height variance. Discussion of this topic will continue at the June 7 meeting.
• Discussion of revising language regarding deadlines on inactive projects, including number of days before applicant is contacted as well as the amount of time the applicant has to respond after being contacted. Planner Wright'Will bring back revised language for further discussion. • Discussion of public noticing requirements and whether in-concept reviews for non-discretionary applications in the Coastal Zone should require noticing or whether certain types of applications in the Coastal Zone should require noticing. Staff noted that the Long Range Planning team is currently working on the Local Coastal Program, and that considerations of this issue could be addressed under that work program ..
• Suggestion to revise the Special Activities Permit request process, including potential to allow for approval of several activities at the same time rather than limiting it to one approval per year. Also suggested that certain types of Special Activities Permits may require Planning Commission review to ensure that proper notification is occurring for events and additional scrutiny for events in sensitive areas .. Staff clarified that Special Activities Permits are managed by the Planning division for activities on private property, while Special Event Permits are managed by the Beaches Parks and Recreation Department for activities on City Properties, including City-sponsored events.
• Consideration of revising the appeal process to allow the Planning Commission to appeal projects approved at the Zoning Administrator level. • Established from staff that any testimony provided by a Planning Commissioner at higher level meetings can only be presented as a private citizen unless permission has been granted to speak for the ·commission.

The public hearing for this agenda item will remain open during its continuance.

IT WAS MOVED BY COMMISSIONER MCCAUGHAN, SECONDED BY VICE

CHAIR COSGROVE AND UNANIMOUSLY CARRIED TO CONTINUE ZONING AMENDMENT 22-366, ZONING PERMIT STREAMLINING, WITH THE PUBLIC HEARING HELD OPEN, TO THE MEETING OF JUNE 7, 2023.
[ITEM CONTINUED. PLANNING COMMISSION DECISION PENDING.]

9. NEW BUSINESS
A. General Plan Strategic Implementation Program (SIP)
A request to forward a recommendation to the City Council on the approval of an annual update to the General Plan Strategic Implementation Program for Fiscal Year 2023-2024 ("FY24")
Minutes of Regular Planning Commission Meeting of April 19, 2023 Page 6 Kyle Webber, Assistant Planner, reviewed the staff report. Technical issues limited display of the PowerPoint Presentation.

Chair McKhann invited the public to provide testimony. There being no one present to provide testimony, the Commission discussion commenced.

Comments/Suggestions:
• Comment that SB 167 calls for "objective" design standards; requested the Planning Commission and Design Review Subcommittee (DRSC) be involved in reviewing City Code to remove "subjective" design standards in this state-mandated process of establishing objective design standards for certain types of development;
• Established from staff that this project is an annual update used to help City Council allocate resources and prioritize projects during the annual budget process.

IT WAS MOVED BY COMMISSIONER MCCAUGHAN, SECONDED BY
CHAIR PRO TEM CAMP AND UNANIMOUSLY CARRIED TO:
1) Determine a review of the project has been completed according to the California Environmental Quality Act (CEQA), and find the FY24 SIP is not subject to CEQA according to State CEQA Guidelines Section 15378 and Section 15061(b)(3); and
2) Adopt Resolution no. PC 23-005, entitled, "A RESOLUTION OF THE

PLANNING COMMISSION OF THE CITY OF SAN CLEMENTE,

CALIFORNIA, RECOMMENDING THAT THE CITY COUNCIL APPROVE

THE GENERAL PLAN STRATEGIC IMPLEMENTATION PROGRAM (SIP) FOR FISCAL YEAR 2023-2024."
[ACTION SUBJECT TO CITY COUNCIL APPROVAL.]
Deputy City Attorney Mitchell stated for the record that the Planning Commission's action may be appealed within ten days of its decision.

10. OLD BUSINESS
None

11. REPORTS OF COMMISSIONERS AND STAFF
A. Tentative Future Agenda
Reports received and filed.
148

AGENDA REPORT

CITY OF SAN CLEMENTE
City Council Meeting
910 Calle Negocio
2nd Floor
San Clemente, California
www.san-clemente.org
Meeting Date: 7/18/2023 Agenda Item: 6L
Department: Finance and Administrative Services
Prepared By Jacob Rahn, Financial Services Officer
Sandee Chiswick, Senior Accountant
Subject:

CONSIDERATION OF A RESOLUTION DELEGATING BANKING AND CUSTODIAL AUTHORITY Summary:

Bank of the West, as part of its annual review and update, requested an updated resolution to address position changes at the City since the last adopted resolution in 2011. The attached resolution formalizes and names for the current City Treasurer and other City officials appointed, acting or qualified representatives with authority to approve and authorize banking, custodial documents (such as signature cards), cash management agreements, banking and custody.

The resolution before the Council updates the information in the prior resolution with the current names of individuals in their respective roles. The positions responsible remain the same from the 2011 resolution, however all the named individuals in the respective positions have been updated with current information.

Background:

On December 20, 2011, in connection with banking and custodial services being transferred to Bank of the West, the City Council adopted Resolution No. 11-62, designating the Mayor, City Manager and City Treasurer as duly elected or appointed, acting and qualified representatives of the organization to approve and authorize banking and custodial documents. In the subsequent years, the City has annually updated the authorized bank signature cards for any changes made to the above representatives.

Since 2011, the City has had several personnel changes to the City Manager and City Treasurer positions. The City has a new City Treasurer, a newly appointed City Manager along with the newly appointed Mayor. Additionally, in 2022, the City Treasurer position was authorized to be transitioned from an elected official position to an appointed position upon completion of the current term. Due to these personnel changes and the desire to update the previous resolution with current information, Bank of the West requested an updated City Council approved resolution clarifying the positions and names of individuals with authority to approve banking, custody, and investment activities. The resolution includes the Mayor, City Manager and City Treasurer, which were identified in the previous resolution.

Pursuant to Government Code section 53607, the City of San Clemente may annually renew and delegate investment authority for a period of one year to the City Treasurer, who shall assume full responsibility for investment transactions until the delegation of authority is revoked or expires. The Council most recently renewed this delegation in Section 4.4 of the Investment Policy, adopted on December 21, 2022. The resolution confirms this delegation is still in effect as requested by Bank of CITY OF SAN CLEMENTE Page 1 of 2 Printed on 7/13/2023
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Meeting Date: 7/18/2023 Agenda Item: 6L
December 21, 2022. The resolution confirms this delegation is still in effect as requested by Bank of the West.

Council Options:
· Adopt Resolution No. 23-69.
· Modify and adopt Resolution No. 23-69.
· Continue the item and direct staff to provide additional information. · Deny Resolution No. 23-69.

Fiscal Impact:

None.

Environmental Review/Analysis:

This is not a “project” under the California Environmental Quality Act.

Recommended Actions:

Staff Recommendation
Staff recommends that the City Council adopt Resolution No. 23-69 entitled “A Resolution of the City Council of City of San Clemente, California Delegating Banking and Custodial Authority.” Attachment:

1. Resolution No. 23-69

2. Resolution No. 11-62

3. Investment Policy
Notification:

None.

CITY OF SAN CLEMENTE Page 2 of 2 Printed on 7/13/2023
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ATTACHMENT 1
RESOLUTION NO. 23-69

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF

SAN CLEMENTE, CALIFORNIA, DELEGATING BANKING

AND CUSTODIAL AUTHORITY
WHEREAS, on December 20, 2011, in connection with banking and custodial services being transferred to Bank of the West, the City Council adopted Resolution No. 11- 62, designating the Mayor, City Manager and City Treasurer as duly elected or appointed, acting and qualified representatives of the organization to approve and authorize banking and custodial documents; and
WHEREAS, on December 21, 2022, the City of San Clemente, California, adopted an Investment Policy which delegated in Section 4.4 certain investment authority to the City Treasurer of the City of San Clemente pursuant to California Government Code section 53607; and
WHEREAS, pursuant to Government Code section 53607, the City of San Clemente may annually renew and delegate investment authority for a period of one year to the City Treasurer, who shall assume full responsibility for investment transactions until the delegation of authority is revoked or expires; and
WHEREAS, the delegation of investment authority to the City Treasurer on December 21, 2022 remains in effect; and
WHEREAS, the City of San Clemente maintains several bank accounts in order to transact business and must have officials authorized to sign for, open and maintain such accounts on behalf of the City of San Clemente.

NOW, THEREFORE, the City Council of the City of San Clemente does hereby resolve as follows:

Section 1. The following City officials or their successors in office shall be authorized signatories to sign for, open and maintain banking accounts on behalf of the City of San Clemente:

Mayor Chris Duncan
City Manager Andy Hall
City Treasurer Charlie Smith
Section 2. This authority includes the approval to authorize banking services to be used for City operations.

Section 3. This resolution supersedes Resolution No. 11-62, which is hereby revoked.

Section 4. The City Clerk shall certify to the passage and adoption of this 3 Resolution No. Page 2
resolution and enter it into the book of original resolutions.

PASSED AND ADOPTED this _____ day of ____________________, 2023.

ATTEST:
___________________________ __________________________
City Clerk of the City of Mayor of the City of San
San Clemente, California Clemente, California

STATE OF CALIFORNIA )
COUNTY OF ORANGE ) §

CITY OF SAN CLEMENTE )
I, LAURA CAMPAGNOLO, City Clerk of the City of San Clemente, California, do hereby certify that Resolution No. 23-69 was adopted at a regular meeting of the City Council of the City of San Clemente held on the _______ day of _______________________, _________, by the following vote:

AYES:

NOES:

ABSENT:

IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of San Clemente, California, this _____ day of _________________, ________. __________________________
CITY CLERK of the City of
San Clemente, California
Approved as to form:
_________________________
Elizabeth A. Mitchell, City Attorney
4 ATTACHMENT 2
5 RESOLUTION NO.11-62

A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SAN CLEtvIBNfE, CALIFORNIA, DELEGATING
INVESTtvIBNT AUTHORITY
WHEREAS, on December 6, 2011, the City Council of the City of San Clemente, California, adopted the Investment Policy which delegated certain investment authority to the City Treasurer of the City of San Clemente pursuant to California Government Code sections 53600 et seq; and
WHEREAS, the City of San Clemente maintains several bank accounts in order to transact business and must have officials authorized to sign for, open and maintain such accounts on behalf of the City of San Clemente
NOW, THEREFORE, The City Council of the City of San Clemente does hereby resolve as follows:

Section I. The following City officials or their successors in office shall be authorized signatories to sign for, open and maintain banking accounts on behalf of the City of San Clemente.

Mayor
City Manager
City Treasurer
Jim Evert
George Scarborough
Pall Gudgeirsson
Section 2. This authority includes the approval to authorize banking services to be used for City operations.

Section 3. The City Clerk shall certify to the passage and adoption of this resolution and enter it into the book of original resolutions.

PASSED AND ADOPTED this 2Dtb day of_oo_cernl:€ __ r ____ __, 2011 ATTEST:
ity Clerk of the City of
San Clemente, California
~ ~--
Gc-i-ty-of_S_an ____ _
Clemente, California
6 Resolution No. 11- 6 2 Page 2

STATE OF CALIFORNIA )
COUNTY OF ORANGE ) §

CITY OF SAN CLEMENTE )
I, JOANNE BAADE, City Clerk of the City of San Clemente, California, do hereby certify that Resolution No. 11-62 was adopted at a regular meeting of the City Council of the City of San Clemente held on the 20th day of Deceml::er , .....:::2=0 l=l=---_, by the following vote:

AYES: BAKER, ~, DAHL, r::x::NCHAK, MAYOR E\i'ERI'
NOES: NOOE
ABSENT: NONE
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of San Clemente, California, this Jg.µ, day of /Y_k, , .)DJ/ ~ TY CLERK of the City of ~e:C::::

Approved as to form:
/s/ Jeff Cderrran
City Attorney
ATTACHMENT 3
7 POLICY AND PROCEDURE
Subject: Investment Policy Index: Treasurer
Number: 202-1
Effective Date: December 21 , 2022 Prepared By: Finance and Administrative Services/City Treasurer
Supersedes:

December 22, 2021

1.0 PURPOSE: The purpose of the City's Investment Policy is to provide comprehensive guidelines for the responsible management of the City's funds that are available for investment. These may include, but are not limited to, temporarily idle cash , reserve funds, trust, agency, and capital funds .

2.0 ORGANIZATIONS AFFECTED:

All departments/divisions

3. 0 REFERENCES:

3.1 Civil Code Section 2261 , et seq.

3.2 Government Code Section 53600, et seq.

3.3 Code of Ethics Policy, Administrative Policy #102-1

4.0 POLICY: It is the policy of the City of San Clemente ("the City") to invest public funds in a manner which will provide the maximum security of principal consistent with a market rate of return while meeting the cash flow needs of the City and conforming to all applicable State and City statutes governing the investment of public funds, as referenced in section 3.0. Every effort will be made to match investment maturities to cash flow needs.

4.1 SCOPE: This investment policy applies to all financial assets of the City.

These funds are accounted for in the City of San Clemente's Comprehensive Annual Financial Report and include:

4.1.1 FUNDS:

4.1.1.1 4.1.1.2

4.1.1.3 4. 1.1.4

4.1 .1.5

4.1 .1.6
General Funds
Special Revenue Funds
Capital Project Funds
Enterprise Funds
Internal Services Funds
Trust and Agency Funds

8 Table of Contents
Section Page

1.0 Purpose ................................................................................................................. 1

2.0 Organizations Affected ............................................................................................ 1

3.0 References ............................................................................................................ 1

4.0 Policy ..................................................................................................................... 1

4.1 Scope .......................................... ........ ............ ...... .. ... ............................... 1

4.2 Objective ... ......... ........... ... ........ ............... .................... ............................... 2

4.3 Prudence ........... ............ .. ........... .......... ...................... ...... ....... .................. 3

4.4 Delegation of Authority ............................................................................... 3

4.5 Ethics and Conflict of Interest ... .................... ......... ....................... .. ... ........ 4

4.6 Authorized Financial Dealers and Institutions .. ........................ ... ............... 4

4.7 Authorized and Suitable Investments ......................................................... 5

4.8 Safekeeping & Collateralization ............ ..................................................... 8

4.9 Safekeeping & Custody ........................... ..................................... ... ... ....... 9

4.10 Diversification and Maturity Limitations ............................................... .... 9

4.11 Marking to Market.. ................................................................ ............... 11

4.12 Pools ........ ...... ........................................................................... ........... 11

5.0 Procedure ............................................................................................................ 11

5.1 Internal Control ........................................................ .. ...... ......................... 11

5.2 Performance Standards ....... ..... ... ........... .... ................ ...... ........................ 11

5.3 Competitive Bids .. ......... .................................................................... ... ..... 12

5.4 Reporting ................ ....................... .... ......... ..................... .. ......... .............. 12

5.5 Investment Advisory Committee .................... ........................................... 12

5.6 Investment Policy Adoption ...................................................... ................. 13

5. 7 Investment Policy Distribution .................................... ....... ........................ 13

6.0 Definitions ........................................................................................................... 13 Management Directive to External Money Manager ....................................... 18 California Government Code ................................................................................... 20 City of San Clemente-Broker/Dealer Questionnaire .............................................. 34 9 4.1.1 .7

4.1.1 .8

4.1.1.9 Debt Service Funds
Redevelopment Agency Funds
Any new fund created by the City Council

4.1.2 BOND PROCEEDS: The investment of bond proceeds will be made in accordance with applicable bond indentures.

4.2 OBJECTIVE: The primary objectives, in priority order, of the City of Clemente's investment activities shall be:

4.2.1 Safety: Safety of principal is the foremost objective of the City.

Investments of the City shall be undertaken in a manner that seeks to ensure the preservation of capital in the overall portfolio. The objective will be to mitigate credit risk and interest rate risk.

4.2.1.1 4.2.2.1
Credit Risk: Credit Risk is the risk of loss due to the failure of the security issuer or backer. Credit risk may be mitigated by:

4.2.1 .1.1

4.2.1.1.2 4.2.1.1.3
Limiting investments authorized by this Policy by
maturity and credit ratings.

Pre-qualifying the financial institutions,
broker/dealers, intermediaries, and advisors
with which the City will do business; and
Diversifying the investment portfolio so that
potential losses on portfolio securities will be
minimized.

Interest Rate Risk: Interest rate risk is the risk that the market value of securities in the portfolio will fall due to changes in general interest rates. Interest rate risk
may be mitigated by:

4.2.2.1.1 4.2.2.1.2
Structuring the investment portfolio so that
securities mature to meet cash requirements for
ongoing operations, thereby avoiding the need
to sell securities on the open market prior to
maturity, and
By investing operating funds primarily in shorterterm securities.

4.2.2 Liquidity: The City's investment portfolio will remain sufficiently liquid to enable the City to meet all operating requirements which might be reasonably anticipated .

4.2.3 Return on investment: The City's investment portfolio shall be designed with the objective of attaining a market rate of return throughout budgetary and economic cycles, taking into account the

10 City's investment risk constraints and the cash flow characteristics of the portfolio.

4.3 Prudence: Pursuant to California Government Code, Section 53600.3, all persons authorized to make investment decisions on behalf of the City are trustees and therefore fiduciaries subject to the Prudent Investor Standard:
" ... all governing bodies of local agencies or persons authorized to make investment decisions on behalf of those local agencies investing public funds pursuant to this chapter are trustees and therefore fiduciaries subject to the prudent investor standard. When investing, reinvesting, purchasing, acquiring, exchanging, selling, or managing public funds, a trustee shall act with care, skill, prudence, and diligence under the circumstances then prevailing, including, but not limited to, the general economic conditions and the anticipated needs of the Agency, that a prudent person acting in a like capacity and familiarity with those matters would use in the conduct of funds of a like character and with like aims, to safeguard the principal and maintain the liquidity needs of the Agency. Within the limitations of this section and considering individual investments as part of an overall strategy, investments may be acquired as authorized by law."

4.4 Delegation of Authority: The City Council, by adoption of this Investment Policy, delegates investment authority to the City Treasurer. In accordance with Government Code Section 53607, investment authority may be delegated for a one-year period by the City Council. In accordance with Government Code Section 53607, investment authority may be revoked by the City Council before that one year period is over.

4.4.1 External Investment Advisor: The City Treasurer may review and evaluate the services of registered external investment advisors to manage all or a part of the City's investment portfolio. Investment advisors shall make all investment decisions in accordance with State law and the City's investment policy. Selection of broker/dealers used by an external investment advisor retained by the City will be at the discretion of the investment advisor, unless the City Council, under advisement of the Investment Advisory Committee determines one or more of the broker/dealers being used to be unsuitable for any reason.

4.4.1.1 Selection of External Investment Advisor: The Investment Advisory Committee shall, after review of external investment advisors qualifications, recommend to the City Council the selection of one or more firms to manage City investments, or recommend the replacement of an existing firm.

4.4.2 The City Treasurer, with approval by the Finance & Administrative Services Director, shall develop and maintain written administrative procedures for the operation of the investment program which are consistent with this Investment Policy. Procedures will include

11 reference to safekeeping, Public Securities Association (PSA) Master Repurchase Agreements, wire transfer agreements, collateral and deposit agreements, banking service contracts, broker/dealer questionnaire and certification, and other investment related activities.

4.4.3 . No person may engage in an investment transaction except as provided under terms of this Policy and the procedures established herein.

4.4.4 The City Treasurer with approval by the Finance & Administrative Services Director shall establish a system of controls to regulate the investment activities of subordinate officials.

4.4.5 The Finance & Administrative Services Director or his/her designee, is designated as the acting investment officer of the City when the primary investment officer is unavailable.

4.5 Ethics and Conflicts of Interest: Officers and employees involved in the investment process shall refrain from personal business activity that could conflict with proper execution of •the investment program, or which could impair their ability to make impartial investment decisions.

4.5.1 Officers and employees involved in the investment process shall abide by the City's adopted Code of Ethics policy, which by reference is incorporated into this Policy.

4.6 Authorized Financial Dealers and Institutions: The City Treasurer will maintain a list of qualified financial institutions, as approved by the Investment Advisory Committee, including banks, savings and loans, and broker/ dealers, authorized to provide investment services.

A list will be maintained of approved securities broker/dealers selected by credit worthiness, who maintain an office in the State of California. These may include "primary" dealers or regional dealers that meet the requirements stated in the City's Broker Dealer Questionnaire and Certification.

All financial institutions and broker/dealers who desire to become qualified bidders for investment transactions must submit an application, including the completion of a Broker/Dealer Questionnaire and Certification, on an annual basis.

4.6.1 Annual Review: An annual review of the financial condition and registrations of qualified investment providers will be conducted by the Finance & Administrative Services Director and the City's Investment Advisory Committee.

4.6.2 Audited Financial Statement: A current audited financial statement

12 is required to be on file in the City Clerk's Office for each financial institution and broker/dealer with whom the City does business, including external money managers, banks, custodians of securities and broker/dealers.

4.6.3 Counterparty Risk: Financial institutions with whom the city does business should be well capitalized and credit worthy to minimize Counterparty Risk.

4.7 Authorized and Suitable Investments:

4.7.1 Authorized Investments: In accordance with State law, investments may be made in the following media (California Government Code Section 16429.1 , 53600-53609 and 53630- - Exhibit attached): The City seeks to further restrict eligible investments to the guidelines listed below. In the event an apparent discrepancy is found between this Policy and the Government Code, the most restrictive parameters will take precedence. Percentage holding limits and credit rating minimums listed in this section apply at the time the security is purchased.

Any investment currently held at the time the Policy is adopted which does not meet the new Policy guidelines can be held until maturity, and shall be exempt from the new Policy. At the time of the investment's maturity or liquidation such funds shall be reinvested only as provided in the most current Policy.

4. 7.1.1 U.S. Treasury Securities or

4.7.1.2 Federal Agency Securities

4.7.1.1 .1 Federal Home Loan Bank (FHLB)

4.7.1.1 .2 Federal National Mortgage Association
(FNMA)

4.7.1.1.3 Federal Home Loan Mortgage
Corporation (FHLMC)

4.7.1.1 .4 Federal Farm Credit Bank (FFCB)

4.7.1.1 .5 Tennessee Valley Authority (TVA)

4.7.1.3 Collateralized or insured Passbook Savings
Accounts & Demand Deposits.

4.7.1.4 Collateralized or insured Certificates of Deposits (or Time Deposits) placed with commercial
banks and/or savings and loan companies.

4.7.1.5 Bankers Acceptances with banks whose short
term obligations are rated A-1/P-1 or higher, or
the equivalent, by at least one nationally
recognized statistical rating organization
(NRSRO). Banks may not be on "negative credit
watch" by any NRSRO. Maturities may not
exceed 180 days.

13 4.7.1.6 Commercial Paper purchases may not exceed
270 days maturity nor represent more than 10%
of the outstanding paper of an issuing
corporation. Investments in any single issuer
shall not exceed 5% of the total portfolio market
issued by institutions whose short term
obligations are rated "A-1/P-1" or higher, or the
equivalent, by at least one NRSRO; and whose
long-term obligations, if any, are rated "A2/A" or
higher by at least one NRSRO. They must be
issued by a corporation organized and operating
within the United States with more than $500
million in total assets; or issued by an issuer
organized within the United States as a special
purpose corporation, trust, or limited liability
company with programwide credit enhancement
including, but not limited to,
overcollateralization, letters of credit, or a surety
bond.

4.7.1 .7 Corporate Debentures (including Medium Term
Notes issued by corporations organized and
operating in the U.S.). Investments in any single
issuer, when combined with any investments in
negotiable certificates of deposit, shall not
exceed 3% of the total portfolio market value.

Corporate issues purchased by an investment
advisor hired by the City for their credit
evaluation process must be rated at least in the
"A" category or equivalent by at least one
NRSRO at the time of purchase. Corporate
issues purchased by the Treasurer must be
rated as follows:

4.7.1.7.1 For maturities of three years or less in
the "A2/A" category or higher at time of
purchase.

4.7.1.7.2 For maturities of greater than three years
to five years in the "Aa3/AA-" category or
higher at time of purchase.

4.7.1 .8 Repurchase agreements whose underlying
collateral consists of the foregoing, provided a
signed PSA Master Repurchase Agreement is
on file with the counterpart bank or
broker/dealer. Direct investments in Reverse
Repurchase agreements are prohibited.

4.7.1.9 Local Agency Investment Fund (State of
California Pool).

14 4.7.1.10

4.7.1.11 4.7.1.12

4.7.1.13 4.7.1.14
Money market mutual funds whose portfolio
consists of investments listed in Section 4.7.1.

Money market mutual funds must be AAA rated
by at least 2 of the 3 largest rating agencies.

Asset-Backed Securities where the securities
are rated "AA" or higher by a NRSRO. The
maximum legal final maturity may not exceed
five ( 5) years.

Negotiable Certificates of Deposit (NCDs issued
by a nationally or state-chartered bank, a
savings association or a federal association (as
defined by Section 5102 of the Financial Code),
a state or federal credit union, or by a federally
licensed or state licensed branch of a foreign
bank). Purchases of eligible NCDs in any single
issuer, when combined with any investments in
corporate debentures, shall not exceed 3% of
the total portfolio market value. NCD issues
purchased in an amount above the FDIC
insured limit must be rated in the "A2/A"
category or higher by at least one NRSRO; or
have short term debt obligations rated "A-1 /P-1"
or higher, or the equivalent, by at least one
NRSRO. The maturities of NCDs may not
exceed 5 years, if the amount is within the FDIC
insured limit. When purchased in the City's
internally managed portfolio the issuer must
have an IDC ranking of "Excellent" or higher at
time of purchase.

Orange County Investment Pool (OCIP).

Supranational Securities, provided that the
securities are US-dollar denominated senior
unsecured obligations issued or unconditionally
guaranteed by the International Bank for
Reconstruction and Development, International
Finance Corporation, or Inter-American
Development Bank, and are rated in the "AA"
category or higher by a NRSRO. No more than
5% of the portfolio may -be invested in a single
issuer.

4.7.2 Bank Savings Accounts and Certificates of Deposit: No funds will be invested in an institution which has at the time the deposit or investment is made, a regulatory capital rating of less than "adequately capitalized."

15 4.7.3 Prohibited Investment Vehicles and Practices:

4.7.3. 1

4.7.3.2 4.7.3.3

4.7.3.4 4.7.3.5

4.7.3.6 4.7.3.7
State law notwithstanding, any investments not
specifically described herein are prohibited, including, but not limited to futures and options.

In accordance with Government Code Section
53601.6, investment in inverse floaters, range notes, or mortgage derived interest-only strips is prohibited.

Investment in any security not issued or backed by the
US government that could result in a zero interest
accrual if held to maturity is prohibited.

Trading securities for the sole purpose of speculating
on the future direction of interest rates is prohibited.

Purchasing or selling securities on margin is prohibited.

The use of reverse repurchase agreements, securities
lending or any other form of borrowing or leverage is
prohibited.

The purchase of foreign currency denominated
securities is prohibited.

4.7.4 Pool Investments: With the exception of Local Agency Investment Fund (LAIF), a thorough investigation of the pool fund is required prior to investing, and on an annual basis. This investigation will address and document the following items:

4.7.4.1 A description of eligible investment securities, and a written statement of investment policy and objectives.

4.7.4.2 A description of interest calculations and how it is distributed, how gains and losses are treated, and the
fees charged

4.7.5 Credit Rating Downgrade: In the event that an issue is later downgraded to a level below the quality required for purchase by this investment policy, the Treasurer will assess the risk exposure to the City and will make a decision regarding course of action and will advise the Investment Advisory Committee accordingly. If a security purchased by an external investment advisor is downgraded below the requirements of this policy, making the security ineligible for additional purchases, any actions taken by ·the external investment advisor will be communicated to the Treasurer in a timely manner. If a decision is made to retain the security, the credit situation will be monitored and reported to the Investment Advisory Committee.

4.8 Safekeeping & Collateralization:

4.8.1 Repurchase Agreements: Collateral is required for all repurchase agreements. In order to anticipate market changes and provide a