DSR Corporate Profile 4 Sep 2016
DSR Corporate Profile 4 Sep 2016
DSR Corporate Profile 4 Sep 2016
*RLQJ
EH\RQG
VZLIWO\
'HOLYHULQJH[FHOOHQFHQDWXUDOO\ &HPHQWLQJGUHDPVSHUPDQHQWO\
$W '65 DQ ,62 FHUWLILHG LQIUDVWUXFWXUH FRPSDQ\ EXLOGLQJ RXWVWDQGLQJ ,QWZRGHFDGHVWKH'65JURXSKDVDFKLHYHGDORW7KHPRVWYDOXDEOHWKLQJRI
VWUXFWXUHVLVDQDWXUDOSKHQRPHQRQ$VQDWXUDODVDELUGǢVIOLJKWRUDULYHUǢV WKHPDOOLVFOLHQWVDWLVIDFWLRQ$QGWKDWKDVEHHQSRVVLEOHEHFDXVHZHEXLOG
JXVK:HMXVWGRLWHYHU\WLPHZHOD\DIRXQGDWLRQ7KHJURXSZDVHVWDEOLVKHG DVSHUWKHVKLIWLQWUHQGDQGWDVWHRILQGLYLGXDOVDQGLQVWLWXWLRQV6RIDUZHǢYH
LQZLWKWKHYLVLRQRIWUDQVIRUPLQJWKHUHDOHVWDWHLQGXVWU\$QGWRGD\ H[WHQGHGRXUH[SHUWLVHWRWKUHHIDVWJURZLQJPHWURSROLWDQVLQWKH6RXWKRI
DIWHU WZR GHFDGHV RI FRQVWDQWO\ UDLVLQJ TXDOLW\ VWDQGDUGV DQG HOHYDWLQJ ,QGLDǞ%HQJDOXUX+\GHUDEDGDQG&KHQQDL6RRQXVLQJRXUH[SHULHQFHZH
VWUXFWXUHV WKDW UHSUHVHQW WKH IXWXUH ZH FDQ SURXGO\ FODLP ZH KDYH GRQH SODQ WR VRZ WKH SRWHQW VHHGV RI TXDOLW\ LQ RWKHU SDUWV RI WKH FRXQWU\ IRU
PXFKPRUHWKDQMXVWEULQJLQJWUDQVIRUPDWLRQ PRGHUQH[DPSOHVRILQIUDVWUXFWXUDOEULOOLDQFHWRVSULQJRXWRIWKHP
'65*URXSKDGGZDUIHGPDQ\FKDOOHQJHVZRUNHGLQFHVVDQWO\DWDJUHDWSDFH (YHU\QHZSURMHFWIURP'65FHPHQWVWKHGUHDPVRIPDQ\ZKREHOLHYHLQ
DQGVHFXUHGDGRPLQDQWSRVLWLRQLQWKHWLPHWRFRPH:HKDYHWKHZRUOGǢV TXDOLW\2XUILQHEXLOGLQJPDWHULDOVNLOOIXODUFKLWHFWVDQGGHGLFDWHGSRRORI
DWWHQWLRQEHFDXVHRIZKRZHDUHZKDWZHKDYHGRQHZKDWZHDUHGRLQJDQG ODERUKDVKHOSHGXVFUHDWHH[FHSWLRQDOODQGPDUNVIRUWKHGLVFHUQLQJIHZ:H
ZKDWZHZLOOGR$QGWKDWǢVTXLWHQDWXUDO KDYHJLYHQ%HQJDOXUXDQG+\GHUDEDGVRPHRIWKHILQHVWDGGUHVVHVLQWKH
IRUPRIEUHDWKWDNLQJUHVLGHQWLDODQGFRPPHUFLDOSURMHFWVLQSULPHORFDWLRQV
$QGWKLVLVMXVWWKHEHJLQQLQJ
$Q,62FRPSDQ\
$Q,62
2+6$6&HUWLILHG&RPSDQ\
0RYLQJDKHDGFRQVLVWHQWO\
7KH'65*URXSLVWKHYLVLRQRI0U'6XGKDNDU5HGG\ZKRLVDOZD\V
ZLOOLQJWRJRDQH[WUDPLOHWRPDNHLPSRVVLEOHSRVVLEOH,QZKHQ
WKH ZRUOG ZDV VWLOO WU\LQJ WR ILJXUH RXW WKH UDSLG VKLIW LQ EXVLQHVV
,QYLWLQJ
WUHQGV0U'6XGKDNDU5HGG\ZDVSUHSDUHGZLWKDSODQǞ'65*URXS
+HKDVDOZD\VEHHQDKHDGRIWLPHVDQGVRKDVWKLVFRPSDQ\(YHU\
SURMHFW EXLOW E\ WKH JURXS LQ %HQJDOXUX +\GHUDEDG DQG &KHQQDL
WHVWLILHVWKDWWKHKHKDVQRWOHIWDVWRQHXQWXUQHGLQRUGHUWRFUHDWH
ODQGPDUNVWKDWDUHH[FHOOHQWLQHYHU\VHQVHRIWKHZRUG
RSSRUWXQLWLHV
7KHUHVLGHQWLDODQGFRPPHUFLDOSURMHFWVEXLOWE\WKHJURXSXQGHUWKH
SRVLWLYH OHDGHUVKLS RI 0U ' 6XGKDNDU 5HGG\ KDYH UHGHILQHG
LQQRYDWLRQ $QG HYHU\ LQGLYLGXDO ZKR KDV WUXVWHG WKH JURXS KDV
GLVFRYHUHGVDWLVIDFWLRQ0U'6XGKDNDU5HGG\ZDVLVDQGZLOODOZD\V
EHWKHPDQRIWRPRUURZGRLQJWKHULJKWWKLQJVWRGD\
0U9.ULVKQD5HGG\0DQDJLQJ3DUWQHU6UL6UHHQLYDVD&RQVWUXFWLRQV
LV D SRVW JUDGXDWH LQ &LYLO (QJLQHHULQJ ZLWK 6SHFLDOL]DWLRQ LQ
6WUXFWXUDO (QJLQHHULQJ +H ZDV EULOOLDQW WKURXJKRXW KLV DFDGHPLF
FDUHHUFXOPLQDWLQJLQ8QLYHUVLW\5DQNLQJVLQKLV*UDGXDWLRQDQG3RVW
*UDGXDWLRQ +H KDG EHHQ DVVRFLDWHG ZLWK EXLOGLQJ FRQVWUXFWLRQ
VPDUWO\
DFWLYLW\ IRU WKH ODVW WZR GHFDGHV DQG KDV EHHQ LQVWUXPHQWDO LQ
FRQFHSWXDOL]DWLRQDQGFRPSOHWLRQRIVRPHRIWKHILQHVW5HVLGHQWLDO
DQG&RPPHUFLDOFRPSOH[HVLQ+\GHUDEDG+LV3URMHFWVDUHNQRZQIRU
DHVWKHWLFVGHWDLOLQJDQGH[FHOOHQWILQLVKHV
$Q,62
2+6$6&HUWLILHG&RPSDQ\
2UJDQLVDWLRQ&KDUW
/HJDO$GYLVRU /DLVRLQJ2IILFHU
/HJDO2IILFHU /DLVRLQJ$VVLVWDQW
0DWHULDO,QFKDUJH
,QGLDQ5HDO(VWDWH
6FHQDULR
,QGLD VUHDOW\VHFWRULVVHWIRULQIORZVRIWRELOOLRQIURP
JOREDOLQYHVWRUVLQWKHQH[WFRXSOHRI\HDUVZLWK%DQJDORUH
'HOKLDQG0XPEDLHPHUJLQJDVIDYRXULWHVDFFRUGLQJWRWKH
$VLD3DFLILF&(2RIJOREDOUHDOHVWDWHFRQVXOWDQF\ILUP-RQHV
/DQJ/D6DOOH -//
Ǥ)RUHLJQLQYHVWRUVDUHQRZORRNLQJZLWKUHQHZHGLQWHUHVWDW
,QGLDJLYHQLWVVWLOOUREXVWHFRQRPLFJURZWKUDWHDVWKDWERGHV
ZHOOIRUJRRGUHWXUQVWRWKHLULQYHVWPHQWVǥ$ODVWDLU+XJKHV
VDLGDWWKH:RUOG(FRQRPLF)RUXP :() $QQXDO0HHWLQJ
,QWKHODVW\HDUV86%LOOLRQKDVEHHQLQYHVWHGLQWKHUHDO
6KUHHSDWL6NLHV'HVLJQ
HVWDWHVHFWRULQ,QGLD,QWKHODVWWZR\HDUVIRUHLJQLQYHVWPHQW
7KH7DOOHVW%XLOGLQJ,Q0XPEDL,QGLD $KXMD7RZHUV0XPEDL (OSKLQVWRQH0LOOV7RZHU0XPEDL,QGLD :RUOG *LIW&LW\
LQWR ,QGLDQ UHDO HVWDWH KDV EHHQ DURXQG ELOOLRQ SHU
DQQXP 6XUSULVLQJ \HW UHDVRQDEOH $W WKH UDWHDW ZKLFK WKH
FRXQWU\ǢVHFRQRP\LVERRPLQJLWVHHPVOLNHWKLVILJXUHZLOOEH
GZDUIHG E\ D PXFK KLJKHU ILJXUH LQ WKH QHDU IXWXUH 7KDWǢV
EHFDXVHWKHSULPDU\GULYHURIWKLVERRPLVWKHUHDOW\VHFWRU
$QG WKLV IDFW LV VXSSRUWHG E\ DQRWKHU QRWHZRUWK\ IDFW RXU
KRXVLQJ VHFWRU DORQH FRQWULEXWHV WR WR SHUFHQW RI WKH
FRXQWU\ǢV*'37KH&RPPHUFLDODQG6(=SURMHFWVDUHFDWFKLQJ
XSWRR7KHRSSRUWXQLW\LVKXJHDQGVRLVWKHSRWHQWLDO:LWKD
ODUJH FRQVXPHU EDVH UDZ PDWHULDO UHVRXUFHV ZRUOGFODVV
PDQXIDFWXULQJ FDSDELOLWLHV D FRPSUHKHQVLYH OHJDO WD[
V\VWHPDVWURQJILQDQFLDOV\VWHPDQGDZLGHO\GLYHUVHWDOHQW
EDVH,QGLDLVZHOOSRLVHGWRPDNHWKHPRVWRIWKHIXWXUHZKLOH
LW EXLOGV RQ WKH SUHVHQW 7KH TXDOLW\ KDV DOUHDG\ H[FHHGHG
H[SHFWDWLRQV 5LJKW QRZ WKH GHOLYHU\ UDWH LQ ,QGLD LV IDVWHU
WKDQ WKH UDWH DW ZKLFK WKH UHVW RI WKH ZRUOG LV LPDJLQLQJ
GHYHORSPHQW 7KLV ZLOO FRQWLQXH WR KDSSHQ DQG ,QGLDǢV UHDO
HVWDWHVHFWRUZLOOFRQWLQXHERRPLQJ7KLVLV,QGLDEXLOGLQJLWV
ZD\WRWKHWRS
1DJD7RZHUV%ORFN3DFNDJH2
5HVLGHQWLDODW.HPSV&RUQHU -XSLWHU0LOOV7RZHURQOHIW(OSKLQVWRQH0LOOV7RZHURQULJKW ,QILQLW\DW:RUOL *XMDUDW,QWHUQDWLRQDO)LQDQFH7HF&LW\ *,)7 *DQGKLQDJDU,QGLD
21*2,1*352-(&76%$1*$/25( &203/(7('352-(&76%$1*$/25(
1DPH2I7KH /RFDWLRQ %XLOGLQJ 7RWDO 7RWDO 7RWDO 6WUXFWXUH'HWDLOV &RPSOHWLRQ 1DPH2I7KH /RFDWLRQ %XLOGLQJ 7RWDO 7RWDO 7RWDO 6WUXFWXUH'HWDLOV &RPSOHWLRQ
3URMHFW 'HWDLOV /DQG$UHD %XLOWXS$UHD 1RRI8QLWV 'DWH 3URMHFW 'HWDLOV /DQG$UHD %XLOWXS$UHD 1RRI8QLWV 'DWH
/RWXV7RZHUV :KLWHȌHOGRSS=XUL 5HVLGHQWLDO $FUHV %DVHPHQW*)ORRUV $SU 'DIIRGLOV 6DUMDSXU255 5HVLGHQWLDO 6IW 6WLOW*)ORRUV
:DWHUVFDSH +RUDPDYX5G255 5HVLGHQWLDO $FUHV %DVHPHQW*)ORRUV 'HF *DOOHULD %DQQDUJKDWWD5RDG &RPPHUFLDO 6IW %DVHPHQW*)ORRUV
*UHHQ)LHOGV3K :KLWHȌHOG 5HVLGHQWLDO $FUHV %DVHPHQW*)ORRUV 'HF $WULXP ,73/:KLWHȌHOG &RPPHUFLDO 6IW %DVHPHQW*)ORRUV
:KLWH:DWHUV *XQMXURII6DUMDSXU 5HVLGHQWLDO $FUHV %DVHPHQW*)ORRUV 2FW 5LGJH 'RPOXU &RPPHUFLDO 6IW %DVHPHQW*)ORRUV
'L\D$UFDGH .DO\DQ1DJDU &RPPHUFLDO 6IW %DVHPHQW*)ORRUV
21*2,1*352-(&76+<'(5$%$'
$SSUR[LPDWHO\ 7HQWDWLYH
*URVVVDOHV
*URVVVDOHV
$XGLWHG $XGLWHG $XGLWHG $XGLWHG
$XGLWHG $XGLWHG $XGLWHG $XGLWHG 5VLQ/DNKV
5VLQ/DNKV
)LQDQFLDOV
$XGLWHG $XGLWHG $XGLWHG $XGLWHG $XGLWHG $XGLWHG $XGLWHG $XGLWHG
5VLQ/DNKV 5VLQ/DNKV
%(1*$/858
/RWXV7RZHUV
:DWHUVFDSH
:KLWH:DWHUV
*UHHQ)LHOGV3KDVH
+<'(5$%$'
)RUWXQH3ULPH
(VPHUDOGD)RUWXQH
&\SUXV3DOPV
21*2,1*
352-(&76
&+(11$,
0DSOHZRRG
'65/RWXV7RZHUVLVDVWXQQLQJSURMHFWWKDWLPELEHVWKHEHVW
%HQJDOXUX RIPRGHUQFODVVLFDODQGFRQWHPSRUDU\DUFKLWHFWXUHGHVLJQ
21*2,1*352-(&76
7KH SURMHFW LV VKDSLQJ XS LQ DFUHV RI SULPH ODQG LQ
5HVLGHQWLDO
:KLWHILHOGWKHPRVWKDSSHQLQJSODFHLQ%HQJDOXUX
3URMHFW1DPH '65/RWXV7RZHUV
3URPRWHU '65,QIUDVWUXFWXUH3YW/WG
/RFDWLRQ :KLWHILHOGRSS7KH=XUL+RWHO
7RWDO/DQG$UHD $FUHV
7RWDO%XLOWXS$UHD 6IW
7RWDO1RRI8QLWV
1RRI%+.8QLWV
1RRI%+.8QLWV
1RRI%+.8QLWV
$UHDRI%+. 6IW
$UHDRI%+. 6IW
$UHDRI%+. 6IW
6WUXFWXUH'HWDLOV %DVHPHQW*URXQG)ORRUV
'65 :DWHUVFDSH WUXH WR LWV QDPH LV D SHUIHFW IXVLRQ RI
FRQWHPSRUDU\DUFKLWHFWXUHHFRIULHQGVHQYLURQVDQGDKRVWRI
%HQJDOXUX PRGHUQDPHQLWLHVDOOSODQQHGWRHQVXUHWKDWLWVUHVLGHQWVOLYHD
21*2,1*352-(&76
ODQGVFDSHGDFUHVZLWKVSDFHHDUPDUNHGIRURSHQVSDFHV
DQGRXWGRRUDFWLYLWLHV
(DFKWRZHUH[WHQGVIORRUVDERYHWKHEDVHPHQWDQGJURXQG
IORRU$OOWKHYDDVWXFRPSOLDQWDQG%+.KRPHVDUH
GHVLJQHGWRSURYLGHVWXQQLQJYLHZVRIWKHQHLJKERXUKRRGDOORZ
PD[LPXPFURVVYHQWLODWLRQDQGEHVWRZPDQ\EOLVVIXOPRPHQWV
WRLWVRFFXSDQWV
3URMHFW1DPH '65:DWHUVFDSH
3URPRWHU '65,QIUDVWUXFWXUH3YW/WG
/RFDWLRQ .&KDQQDVDQGUD+RUDPDYX0DLQ5RDG
7RWDO/DQG$UHD $FUHV
7RWDO%XLOWXS$UHD 6IW
7RWDO1RRIXQLWV
1RRI%+.8QLWV
1RRI%+.8QLWV
$UHDRI%+. 6IW
$UHDRI%+. 6IW
6WUXFWXUH'HWDLOV %DVHPHQW6WLOW*URXQG)ORRUV
&OXEKRXVH *)ORRU
/RFDWHGRQ&DUPHODUDP5RDG*XQMXURII6DUMDSXU5RDG'65
:KLWH:DWHUVLVMXVWPLQXWHVDZD\IURP:LSURFRUSRUDWHRIȌFH
,QWKHFORVHYLFLQLW\DUHQXPHURXV,73DUNVSUHVWLJLRXV01&V
%HQJDOXUX
UHVSHFWHG HGXFDWLRQDO LQVWLWXWLRQV VKRSSLQJ KXEV DQG PXFK
21*2,1*352-(&76
PRUH 7KHUHE\ SXWWLQJ \RX DW WKH FHQWUH RI WKLV UDSLGO\
5HVLGHQWLDO
'65:KLWH:DWHUVRIIHUV\RXWKHFRPIRUWVRIXUEDQOLIHVW\OHLQD
FRQYHQLHQW QHLJKERXUKRRG FRPSOHWH ZLWK D SOXVK &OXEKRXVH
WKDWKRXVHVDQHQYLDEOHOLVWRIOLIHVW\OHDPHQLWLHV<RXUKRPHDW
'65:KLWH:DWHUVLVVXUHWRHOHYDWH\RXWRDKLJKHUOLIHVW\OH
3URMHFW1DPH '65:KLWH:DWHUV
3URPRWHU '65,QIUDVWUXFWXUH3YW/WG
/RFDWLRQ &DUPHODUDP5RDG*XQMXU
2II6DUMDSXU5RDGG
7RWDO/DQG$UHD $FUHV
7RWDO%XLOWXS$UHD 6IW
1RRI%+.8QLWV
1RRI%+.8QLWV
$UHDRI%+.
$UHDRI%+.
6WUXFWXUH'HWDLOV %DVHPHQW*URXQG)ORRUV
IORRUVWKDWLQFOXGHSDUNLQJDUHDLQWKHEDVHPHQW
5HVLGHQWLDO
3URMHFW1DPH '65*UHHQ)LHOGV3KDVH
3URPRWHU '65,QIUDVWUXFWXUH3YW/WG
/RFDWLRQ ,PPDGLKDOOL5RDG:KLWHILHOG
7RWDO/DQG$UHD $FUHV
7RWDO%XLOWXS$UHD 6IW
$UHDRI%+. WR6IW
$UHDRI%+. WR6IW
$PHQLWLHV :HOOHTXLSSHGJ\PQDVLXP-DFX]]L
,QWHUFRPIDFLOLW\6WHDPEDWK
0XOWLSXUSRVHKDOO&OXEKRXVH
-RJJLQJWUDFN%HDXWLIXOODQGVFDSHG
JDUGHQ%DGPLQWRQFRXUW&KLOGUHQǢV
SOD\DUHD6NDWLQJULQN6ZLPPLQJ
SRRODQG:DWHUVRIWHQHUSODQW
6WUXFWXUH'HWDLO %DVHPHQW*URXQG)ORXUV
0DGKDSXUYHU\FORVHWR-XELOHH+LOOV
5HVLGHQWLDO
(YHU\DVSHFWRI)RUWXQH3ULPHKDVEHHQSODQQHG WKRXJKW
RYHUDPLOOLRQWLPHVE\VRPHRIWKHEHVWPLQGVLQWKHLQGXVWU\
6RPXFKLVWKHDWWHQWLRQWRGHWDLOYLUWXDOO\QRWKLQJLVOHIWIRU
\RXULPDJLQDWLRQLQWHUPVRIFRPIRUWVRUDXEHUOLIHVW\OH&RPH
KRPHWR)RUWXQH3ULPH&RPHKRPHWROX[XULRXVOLYLQJ
3URMHFW1DPH )RUWXQH3ULPH
3URPRWHU '65,QIUDVWUXFWXUHSYW/WG
/RFDWLRQ 0DGKDSXU
7RWDO/DQG$UHD $FUHV
7RWDO%XLOWXS$UHD 6IW
7RWDO1RRI8QLWV
8QLW2SWLRQV %+.
%+.6WXG\
%+.
%+.+RPH7KHDWUH
8QLWV5DQJH WR6IW
$PHQLWLHV 8OWUDPRGHUQ&OXEKRXVH
6ZLPPLQJSRROZLWKSDUW\
ODZQV:HOOHTXLSSHG*\P
&KLOGUHQ3OD\$UHDV0XOWL
SXUSRVH+DOO%LOOLDUGV5RRP
,QGRRU*DPHV PRUH
6WUXFWXUH'HWDLO 7RZHUV%DVHPHQWV
*URXQGIORRUV
DERXTXHWRIH[RWLFIHDWXUHVWKLVUHVLGHQWLDOFRPPXQLW\JUDFHV
5HVLGHQWLDO
DFUHVRIYDVWQHVVDQGZLOOKRVWGLVWLQFWLYHO\SOXVKYLOODV
(VPHUDOGD IRUWXQH LV DQ DGGUHVV WKH ZRUOG ZLOO DGPLUH ,W V DQ
HQFKDQWLQJ FRPPXQLRQ RI WKH EHVWLQFODVV DQG EHVWLQWKH
ZRUOG DV \RX ZLOO GLVFRYHU 7KLV LV +\GHUDEDG V RQO\ JDWHG
FRPPXQLW\ RI DFUHV DQG HYHU\WKLQJ KHUH LV D FODVV DSDUW %\
PDNLQJ WKLV \RXU KDELWDW \RX ZLOO SXW \RXUVHOI LQ WKH YLFLQLW\ RI
VRIWZDUHKXEVDQGWKHILQDQFLDOGLVWULFW
3URMHFW1DPH (VPHUDOGD)RUWXQH
3URPRWHU 6UL6UHHQLYDVD&RQVWUXFWLRQV
/RFDWLRQ .RQGDSXU+\GHUDEDG
7RWDO/DQG$UHD $FUHV
7RWDO1RRI8QLWV 9LOODV
(DFK9LOOD%XLOWXS$UHD6IW $SSUR[
3ORWDUHD 6T\GV
ULRW(QYLVDJHGDVDJDWHGFRPPXQLW\RIYLOODV
EXLOW RQ DFUHV RI ODQG &\SUHVV 3DOPV
5HVLGHQWLDO
3URMHFW1DPH &\SUXV3DOPV
3URPRWHU 6UL6UHHQLYDVD&RQVWUXFWLRQV
/RFDWLRQ .RQGDSXU+DIHH]SHW
7RWDO/DQG$UHD $FUHV
1RRI8QLWV 9LOODV
$PHQLWLHV &OXEKRXVHORXQJH6TXDVKURRP
/LEUDU\$UUDQJHPHQWVIRULQGRRU
JDPHVVXFKDVELOOLDUGVFKHVVWDEOH
WHQQLVDQGFDUURP3DUW\KDOOZLWK
H[WHQGHGODZV&KLOGUHQ VUHFUHDWLRQ
URRP6ZLPPLQJSRROZLWKILOWUDWLRQ
IDFLOLWLHV$&J\PQDVLXP6SD-DFX]]L
DQG6DXQDDQG7HQQLVDQG%DVNHWEDOO
FRXUWVHWF
0$3/(:22'IURPRXUDERGH
5HVLGHQWLDO
5HWXUQWR\RXUVDQFWXDU\RISHDFHDPLGVWWKHRSXOHQFHRI7UDGLWLRQ
DQGLQWKHEDFNGURSRIVWXQQLQJYLHZVVXUURXQGHGE\OX[XU\5HWXUQ
WR KRPH DV LW VKRXOG EH ZLWK FRQWHPSRUDU\ %+. DQG %+.
DSDUWPHQWV WKDW DUH ERWK VSDFLRXV DQG SULYDWH 5HWXUQ WR \RXU
EHDXWLIXOO\ ODQGVFDSHG FHQWUDOO\ ORFDWHG KRPH LQ WKH SULPH
UHVLGHQWLDODUHD
3UHVHQWLQJ0DSOH:RRGDSODFHZKHUHHYHU\GD\ZLWK\RXUORYHG
RQHVZLOOKDYHLWVPRPHQWVRIKDSSLQHVVDQGSHUIHFWLRQ,WǢVZKDWZH
FDOODSHUIHFWOLIH
3URMHFW1DPH 0DSOHZRRG
3URPRWHU 6UL6UHHQLYDVD&RQVWUXFWLRQV
/RFDWLRQ DWND]KLSDWWXU205URDG
7RWDO/DQG$UHD $FUHV
1RRI8QLWV
%+.$UHD 6IW6IW
%+.$UHD 6IW6IW
$PHQLWLHV :HOOHTXLSSHGJ\P9LVLWRUV/RXQJH
6ZLPPLQJ3RRO&KLOGUHQ VSOD\DUHD
ZLWKHTXLSPHQW,QGRRU5HFUHDWLRQURRPV
$HVWKHWLFDOO\'HVLJQHG/DQGVFDSH
0XOWLSXUSRVH+DOO3RZHUEDFNXS
IRU&RPPRQ6HUYLFHV :DWWVIRU%+.
ZDWWVIRU%+.$SDUWPHQW3URYLVLRQIRU
'7+,QWHUFRP7HOHSKRQH,QWHUQHW
6WUXFWXUH'HWDLO 6WLOW)ORRUV
3URMHFW+DQGRYHU'HF 7HQWDWLYH
%(1*$/858
(GHQ*UHHQV
6XQULVH7RZHUV
:RRGZLQGV
*UHHQ)LHOGV
8OWLPD
5DLQERZ+HLJKWV
*UHHQ9LVWD
(OLWH
(OHJDQFH
3ULGH
(PHUDOG 7RSD]
.ULVKQD5R\DOH
1DYHHQ/DNHVLGH
5HJHQF\
)DLUPRQW
6XQVKLQH
6SULQJ%HDXW\
&UHVFHQW
:LQGVRU
&RVPRV
2UFKLGV
'LYLQH
&203/(7('
'DIIRGLOV
*DOOHULD
$WULXP
5LGJH
'L\D$UFDGH
352-(&76
+<'(5$%$'
)RUWXQH,QGUD9LOODH
)RUWXQH([RWLFD
2DN:RRG
)RUWXQH)RUW
)RUWXQH6XPPLW
$QLVKD3ULGH
)RUWXQH+HLJKWV
)RUWXQH7RZHUV
)RUWXQH1HVW
6LOYHU6SULQJV
/DNHVLGH
)RUWXQH(QFODYH
%DQMDUD&ODVVLF
:LQGVRU
6LJQDWXUH7RZHUV
7UDQTXLO
)RUWXQH$WULXP
)RUWXQH%D\
2SHQPLQGV
&+(11$,
6LOYHU2DN
,PSHULDO7RZHUV
(GHQ*UHHQVLVWKHRQHSURSHUW\\RX YHZDQWHGWRSRVVHVVDOO
\RXUOLIH,WǢVH[TXLVLWHO\SODQQHGDQGEXLOWZLWKJUHDWDPHQLWLHV
DQG DQ HQYLDEOH DGGUHVV (YHU\WKLQJ DERXW (GHQ *UHHQV
%HQJDOXUX
VXJJHVWVJUDFHDQGVW\OHVWDUWLQJIURPWKHQDPHWRWKHOLIH\RX
&203/(7('352-(&76
ZLOOHYHQWXDOO\OLYHKHUH7RVD\WKDWLWǢVORFDWHGLQWKHKRWWHVW
5HVLGHQWLDO
3URMHFW1DPH '65(GHQ*UHHQV
3URPRWHU '65,QIUDVWUXFWXUH3YW/WG
/RFDWLRQ &DUPHODUDP5DLOZD\6WDWLRQQHDU:LSUR
7RWDO/DQG$UHD $FUHV
7RWDO%XLOWXS$UHD 6IW
7RWDO1RRI8QLWV QRV
$UHDRI%+. 6IW
$UHDRI%+.3HQWKRXVH6IW
$UHDRI%+.3HQWKRXVH6IW
$PHQLWLHV &OXEKRXVHZLWK6WHDPDQG-DFX]]L
0XOWLSXUSRVHKDOO6ZLPPLQJSRRODQG
NLGVSRRO/DQGVFDSHGJDUGHQ-RJJLQJ
WUDFN9LGHRGRRUSKRQHZLWKLQWHUFRP
)XOO\HTXLSSHGJ\PQDVLXP:DWHU
WUHDWPHQWSODQWIRUERUHZHOOZDWHU
%DVNHWEDOODQG7HQQLVFRXUWV,QGRRU
JDPHVVXFKDV6QRRNHUDQG7DEOH
7HQQLV6HFXULW\PRQLWRULQJWKURXJK
&&79&KLOGUHQ VSOD\DUHDDQG6RODU
IHQFHIRUWKHFRPSRXQGZDOOHWF
6WUXFWXUH'HWDLO %DVHPHQWV*URXQG)ORRUV
3URMHFW+DQGRYHU
7KHGHVLJQDQGDHVWKHWLFDSSHDORI'656XQULVH
7RZHUV LV PDWFKOHVV /RFDWHG LQ :KLWHILHOG
%HQJDOXUX LW FRPSOHWHO\ OLYHV XS WR \RXU
%HQJDOXUX H[SHFWDWLRQV7KHVWUHQJWKRIWKLVXSVFDOHSURMHFW
&203/(7('352-(&76
OLHVLQLWVSUDFWLFDOLW\,WPDQDJHVWRFUHDWHDILQH
5HVLGHQWLDO
EDODQFHEHWZHHQOX[XU\DQGFRQYHQLHQFHVRWKDW
WKHH[SHULHQFHRIOLYLQJKHUHLVWUXO\PHPRUDEOH
7KHZDUPDPELHQFHDQGDWWHQWLRQWRGHWDLOLQVLGH
DQG WKH OLYHO\ DQG SOHDVDQW DPELHQFH RXWGRRUV
FRPSOHWHWKHSLFWXUHSHUIHFWVHWWLQJ
3URMHFW1DPH '656XQULVH7RZHUV
3URPRWHU '65,QIUDVWUXFWXUH3YW/WG
/RFDWLRQ +RSH)DUP&LUFOH&KDQDVDQGUD
PDLQURDG:KLWHILHOG
7RWDO/DQG$UHD $FUHV
7RWDO%XLOWXS$UHD 6IW
1RRI%+.XQLWV
$UHDRI%+. WR6IW
$PHQLWLHV 0XOWLSXUSRVHKDOOFRQQHFWHGZLWK
RXWGRRUSDUW\ODZQ7HQQLVFRXUW
6ZLPPLQJSRRO%DVNHWEDOOFRXUW
*\PQDVLXP,QGRRUJDPHV&KLOGUHQ V
SOD\DUHD&RIIHHORXQJH-RJJLQJ
WUDFN&HQWUDOODQGVFDSLQJ%DGPLQWRQ
FRXUW0DLQWHQDQFHRIILFHDQG:DWHU
VRIWHQHUSODQW
6WUXFWXUH'HWDLO %DVHPHQW*URXQG)ORRU)ORXUV
3URMHFW+DQGRYHU
:22':,1'6
DW6$5-$38552$'1($5:,352
/HWPRPHQWVFRXQWE\YDULHGH[SHULHQFHVDQG
ZDUPPHPRULHVJURZ
RXWGRRUVLQGRRUV
3URMHFW1DPH '65:RRGZLQGV
3URPRWHU '65,QIUDVWUXFWXUH3YW/WG
/RFDWLRQ 6DUMDSXU5RDG&ORVHWR:LSUR
7RWDO/DQG$UHD $FUHV
7RWDO%XLOWXS$UHD 6IW
1RRI8QLWV
$UHDRI%+. WR6IW
$UHDRI%+. WR6IW
$UHDRI%+.'XSOH[ WR6IW
$UHDRI%+.'XSOH[ WR6IW
$PHQLWLHV 0XOWLSXUSRVHKDOOFRQQHFWHGZLWK
RXWGRRUSDUW\ODZQ6ZLPPLQJSRRO
*\PQDVLXP&RIIHHORXQJH0DLQWHQDQFH
RIILFH-RJJLQJWUDFN&KLOGUHQ VSOD\
DUHD$PSKLWKHDWHU&HQWUDOO\ORFDWHG
SDUN%DGPLQWRQ9ROOH\EDOODQG7HQQLV
FRXUWVDQG3XWW\JROIHWF
6WUXFWXUH'HWDLO %DVHPHQWV*URXQG)ORXUV
3URMHFW+DQGRYHU
*5((1),(/'6
# : + , 7 ( ) , ( / '
FRPELQDWLRQRIDQG%+.IODWVRQHDFKIORRU
FRPHZLWKUHILQHGLQWHULRUVFUHDWHGZLWKDPL[
RI WHDN ZRRG JODVV JUDQLWH DQG HOHJDQW
HOHFWULFDOILWWLQJVWKDWDFFHQWXDWHFODVV
3URMHFW1DPH '65*UHHQ)LHOGV
3URPRWHU '65,QIUDVWUXFWXUH3YW/WG
/RFDWLRQ ,PPDGLKDOOL5RDG:KLWHILHOG
7RWDO/DQG$UHD 6IW
7RWDO%XLOWXS$UHD 6IW
$UHDRI%+. WR6IW
$UHDRI%+.6WXG\ WR6IW
$UHDRI%+. WR6IW
$PHQLWLHV :HOOHTXLSSHGJ\PQDVLXP-DFX]]L
,QWHUFRPIDFLOLW\6WHDPEDWK
0XOWLSXUSRVHKDOO&OXEKRXVH
-RJJLQJWUDFN%HDXWLIXOODQGVFDSHG
JDUGHQ%DGPLQWRQFRXUW&KLOGUHQǢV
SOD\DUHD6NDWLQJULQN6ZLPPLQJ
SRRODQG:DWHUVRIWHQHUSODQW
6WUXFWXUH'HWDLO %DVHPHQW*URXQG)ORXUV
3URMHFW+DQGRYHU
,WǢVDPD]LQJKRZZKHQ\RXǢUHQRWORRNLQJIRULW
LQVSLUDWLRQ FRPHV ORRNLQJ IRU \RX )URP WKH
PRPHQW \RX DUULYH \RXǢOO EH DPD]HG DW KRZ
%HQJDOXUX FORVH\RXFDQEHZLWKQDWXUH\HWEHHPEUDFHG
&203/(7('352-(&76
E\OX[XULRXVPDJQLILFHQFH
5HVLGHQWLDO
'658OWLPDRIIHUVWZRDQGWKUHHEHGURRP
SUHPLXP DSDUWPHQWV ,W LV EXLOW IRU WKRVH ZKR
VHHN QRWKLQJ EXW WKH EHVW ,W V D KRPH WKDW
DGGUHVVHV DOO \RXU QHHGV DQG SURYLGHV D
FRPIRUWDEOH HQYLURQPHQW ,W LV FRQYHQLHQWO\
ORFDWHGDW+DUDOXURII6DUMDSXU5RDGDQG+65
/D\RXW,WRIIHUVWKHFRQYHQLHQFHRIXUEDQOLYLQJ
DQG FKDUP RI WKH VXEXUEV GHOLYHULQJ WUXH
YDOXHIRULWVUHVLGHQWV
3URMHFW1DPH '658OWLPD
3URPRWHU '65,QIUDVWUXFWXUH3YW/WG
/RFDWLRQ +DUDOXURII6DUMDSXU5RDG
7RWDO/DQG$UHD 6IW
7RWDO%XLOWXS$UHD 6IW
$UHDRI%+. WR6IW
$UHDRI%+. WR6IW
$PHQLWLHV 0XOWLSXUSRVHKDOOFRQQHFWHGZLWKWKH
RXWGRRUSDUW\ODZQ,QGRRUJDPHV
6ZLPPLQJSRRO&KLOGUHQ VSOD\DUHD
*\PQDVLXP/LEUDU\0HGLWDWLRQKDOO
/DQGVFDSHGJDUGHQDQG:DWHUVRIWHQHU
SODQWHWF
6WUXFWXUH'HWDLO %DVHPHQW*URXQG)ORRU)ORRUV
3URMHFW+DQGRYHU
+65 /D\RXW LV WKH IDVWHVW GHYHORSLQJ DUHD RI
%HQJDOXUX$ORWRIFRPPHUFLDOHVWDEOLVKPHQWV
FRPLQJ KHUH DUH DGGLQJ DPHQLWLHV VXFK DV
%HQJDOXUX
VKRSSLQJFHQWHUVVFKRROVKRVSLWDOVDQGEDQNV
&203/(7('352-(&76
6RPHRIWKHEHVWWKLQJVDERXW+65/D\RXWDUHLWV
5HVLGHQWLDO
3URMHFW1DPH '655DLQERZ+HLJKWV
3URPRWHU '65,QIUDVWUXFWXUH3YW/WG
/RFDWLRQ +65/D\RXWǞWK0DLQ
7RWDO/DQG$UHD 6IW
7RWDO%XLOWXS$UHD 6IW
1RRI8QLWV
$UHDRI%+. WR6IW
$UHDRI%+. WR6IW
$UHDRI%+. WR6IW
$PHQLWLHV 6ZLPPLQJSRRO&OXEKRXVHZLWK
LQGRRUJDPHV6SRUWVFRXUW
0XOWLSXUSRVHKDOO:HOOHTXLSSHG
J\PQDVLXP&KLOGUHQǢVSOD\DUHD
$PSKLWKHDWHU-RJJLQJWUDFN%HDXWLIXO
ODQGVFDSHGJDUGHQ,QWHUFRPIDFLOLW\
6HUYDQWWRLOHWV:DWHUVRIWHQHUSODQW
6WUXFWXUH'HWDLO %DVHPHQW*URXQG)ORRUV
3URMHFW+DQGRYHU
'65 *UHHQ 9LVWD LV ORFDWHG QHDU ,73/ ZKLFK LV
VWRQHWKURZ DZD\ IURP PDMRU ,7 SDUNV VXFK DV
,73/ 6DODUSXULD *5 7HFK 3DUN %ULJDGH 7HFK
%HQJDOXUX 3DUNDQGPDQ\PRUH/LYLQJKHUHZLOODOORZ\RX
&203/(7('352-(&76
3URMHFW1DPH '65*UHHQ9LVWD
3URPRWHU '65,QIUDVWUXFWXUH3YW/WG
/RFDWLRQ ,73/:KLWHILHOG
7RWDO/DQG$UHD 6IW
7RWDO%XLOWXS$UHD 6IW
1RRI8QLWV
$PHQLWLHV :HOOHTXLSSHGJ\PQDVLXP6ZLPPLQJ
SRRO,QWHUFRPIDFLOLW\-DFX]]L
&OXEKRXVH6WHDPEDWK/DQGVFDSHG
JDUGHQ-RJJLQJWUDFN&KLGUHQ VSOD\
DUHD%DGPLQWRQFRXUWDQG6HZDJH
WUHDWPHQWSODQW
6WUXFWXUH'HWDLO %DVHPHQW*URXQG)ORRUV
3URMHFW+DQGRYHU
025($%287'65(/,7(
6SDFHLVWKHXOWLPDWHQHHGRIWKHPRGHUQFLWL]HQ:H
%HQJDOXUX DOO QHHG RXU RZQ VKDUH RI QDWXUHǢV EOHVVLQJV RQ
HDUWK $EXQGDQW XQFOXWWHUHG VSDFH FOHDU RSHQ
&203/(7('352-(&76
ZH DOO VHHN $IWHU DOO ZH DOO QHHG RXU VKDUH RI
QDWXUH VEOHVVLQJV7KH\DUHQHHGHGIRURXUSHUVRQDO
DQG VRFLDO GHYHORSPHQW LQQHU JURZWK DQG PRVW
LPSRUWDQWO\SHDFHRIPLQG'65(OLWHEULQJVWRJHWKHU
DOO WKHVH YLWDO LQJUHGLHQWV LQ %HQJDOXUX 7KH
VSUDZOLQJ JDWHG FRPPXQLW\ ZHOFRPHV \RX WR D
OD\RXW RI IXOO\ ORDGHG DUWLVWLFDOO\ GHVLJQHG
OX[XULRXVURZKRXVHVVHWDPLGVWDUROOLQJH[SDQVHRI
QDWXUDOODQGVFDSLQJDQGZLGHRSHQVSDFH
3URMHFW1DPH '65HOLWH
3URPRWHU '65&RQVWUXFWLRQV
/RFDWLRQ 0DKDGHYDSXUD%HWZHHQ0DUWKDKDOOL
DQG.53XUDP255
7RWDO/DQG$UHD 6IW
1RRI8QLWV XQLWV1RǢV%+.'XSOH[DQG
1RǢV%+.7ULSOH[5RZ+RXVH
$UHDRI%+. 726IW
$PHQLWLHV 6SDFLRXVFOXEKRXVHZLWK-DFX]]LDQG
,QGRRUJDPHV6ZLPPLQJSRRO:HOO
HTXLSSHGJ\PQDVLXP&KLOGUHQ VSOD\
DUHD6FUHHQLQJRIYLVLWRUVDWWKH
6HFXULW\SRVW;VHFXULW\DQG+LJK
VSHHGEURDGEDQGFRQQHFWLYLW\
3URMHFW+DQGRYHU
Ǥ7+(8/7,0$7($''5(66ǥ
&RPHKRPHWRWKHQHLJKERUKRRG
%HQJDOXUX (OHJDQFH ORFDWHG DW .RUDPDQJDOD %HQJDOXUX
&203/(7('352-(&76
GUHDPRIRZQLQJTXDOLW\OLYLQJVSDFH6WHSLQWR
RXU EHGURRPDSDUWPHQWVDQG\RXZLOOILQG
DOO WKH HOHPHQWV WKDW PDNH D JUHDW DQG
FRPIRUWDEOHKRPH
3URMHFW1DPH '65(OHJDQFH
3URPRWHU '65&RQVWUXFWLRQV
/RFDWLRQ .RUDPDQJDOD%HQJDOXUX
7RWDO/DQG$UHD 6IW
7RWDO%XLOWXS$UHD 6IW
1RRI8QLWV
$PHQLWLHV 1RFRPPRQZDOO3RZHUEDFNXS
%HDXWLIXOO\ODQGVFDSHGJDUGHQ
:HOOHTXLSSHGJ\PQDVLXP&KLOGUHQ V
SOD\DUHD&RQYHQLHQW(3$%;IDFLOLW\
6HUYDQWWRLOHWV0XOWLSXUSRVHKDOO
&OXEKRXVHDQG5RXQGWKHFORFNVHFXULW\
6WUXFWXUH'HWDLO 6WLOW*URXQG)ORRUV
3URMHFW+DQGRYHU
Ǥ$//<)25$/,)(7,0(ǥ
/RFDWHG DW +65 /D\RXW RQH RI %HQJDOXUX V IDVWHVW
%HQJDOXUX JURZLQJ DUHDV 3ULGH LV FHQWUDOO\ ORFDWHG MXVW RII
2XWHU 5LQJ URDG ,W LV LQ FORVH SUR[LPLW\ WR WKH
&203/(7('352-(&76
3URMHFW1DPH '653ULGH
3URPRWHU '65&RQVWUXFWLRQV
/RFDWLRQ +65/D\RXW%HQJDOXUX
7RWDO/DQG$UHD 6IW
7RWDO%XLOWXS$UHD 6IW
1RRI8QLWV
$PHQLWLHV &OXEKRXVH*\PQDVLXP3RZHUEDFNXS
DQG,QWHUFRPIDFLOLW\
6WUXFWXUH'HWDLO 6WLOW*URXQG)ORRUV
3URMHFW+DQGRYHU
# 6 D U M D S X U 2 X W H U 5 L Q J 5 R D G
Ǥ3(57,1(17/2&$7,21ǥ
7KH (PHUDOG 7RSD] SURMHFW LQFOXGHV
%HQJDOXUX OX[XULRXV DSDUWPHQWV ORFDWHG RQ WKH 2XWHU
5LQJ URDG DGMDFHQW WR 6XQ &LW\ DSDUWPHQWV
&203/(7('352-(&76
3URMHFW1DPH '65(PHUDOG7RSD]
3URPRWHU '65&RQVWUXFWLRQV
/RFDWLRQ 6DUMDSXU2XWHU5LQJURDG
7RWDO/DQG$UHD 6IW
7RWDO%XLOWXS$UHD 6IW
1RRI8QLWV
6WUXFWXUH'HWDLO 6WLOW*URXQGORRU
3URMHFW+DQGRYHU
Ǥ52<$/(&(/(%5$7,21ǥ
/RFDWHG DW WKH KHDUW RI WKH ,7 FRUULGRU DW
0DUDWKDKDOOL .ULVKQD 5R\DOH KDV EHHQ HQYLVDJHG
%HQJDOXUX DV WKH DQVZHU WR \RXU RI RZQLQJ D TXDOLW\ OLYLQJ
&203/(7('352-(&76
3URMHFW1DPH .ULVKQD5R\DOH
3URPRWHU 6KXEKDP'HYHORSHUV
/RFDWLRQ 0DUDWKDKDOOL%HQJDOXUX
7RWDO/DQG$UHD 6IW
7RWDO%XLOWXS$UHD 6IW
1RRI8QLWV
$PHQLWLHV 9DVWKXFRPSOLDQW&OXEKRXVH-RJJLQJ
WUDFN6ZLPPLQJSRRO*\PQDVLXP
&KLOGUHQ VSOD\DUHD$PSOHODQGVFDSLQJ
%DVNHWEDOOSRVW,QGRRUJDPHV6NDWLQJ
ULQN,QWHUFRP0XOWLSXUSRVHSOD]DDQG
3RZHUEDFNXSHWF
6WUXFWXUH'HWDLO %DVHPHQW*URXQG)ORRUV
3URMHFW+DQGRYHU
3URMHFW1DPH '655HJHQF\
3URMHFW1DPH '651DYHHQ/DNHVLGH
3URPRWHU '65&RQVWUXFWLRQV
3URPRWHU '65,QIUDVWUXFWXUH3YW/WG
/RFDWLRQ 6DUMDSXURXWHUULQJURDG
/RFDWLRQ %70/D\RXW%DQJDOXUX
7RWDO/DQG$UHD 6IW
7RWDO/DQG$UHD 6IW
7RWDO%XLOWXS$UHD 6IW Ǥ:$/.72:25.ǥ
7RWDO%XLOWXS$UHD 6IW 7KH5HJHQF\SURMHFWLQFOXGHVGHOX[HDSDUWPHQWV
Ǥ/$.(6,'(/,9,1*5('(),1(ǥ
%HQJDOXUX 1RRI8QLWV ORFDWHG RQ WKH 2XWHU 5LQJ URDG OLQNLQJ 6DUMDSXU
6LWXDWHG DW %70 /D\RXW ZLWKLQ FORVH SUR[LPLW\ WR 1RRI8QLWV URDGDQG0DUDWKDKDOOLURDG,WLVULJKWLQWKHKHDUWRI
&203/(7('352-(&76
+RVXU URDG %70 5LQJ URDG DQG %DQQHUJKDWWD UDRG $PHQLWLHV *\PQDVLXP1RFRPPRQZDOOV $VLD V 6LOLFRQ 9DOOH\ 7KLV PHDQV \RX KDYH WKH
5HVLGHQWLDO
3URPRWHU
'656XQVKLQH
6KXEKDP'HYHORSHUV
3URPRWHU '65&RQVWUXFWLRQV
Ǥ/8;85<7+$7(0%5$&(6(/(*$1&(ǥ /RFDWLRQ 2II%DQDVZDGL2XWHU5LQJURDG
/RFDWLRQ 6DUMDSXURXWHUULQJURDG Ǥ$6+,1,1*67$5ǥ
7KH )DLUPRQW SURMHFW FRQVLVWV RI GHOX[H 7KH 6XQVKLQH SURMHFW FRQVLVWLQJ RI HOHJDQWO\ 7RWDO/DQG$UHD 6IW
DSDUWPHQWV ORFDWHG RQ WKH 2XWHU 5LQJ URDG YHU\ 7RWDO/DQG$UHD 6IW FUHDWHG GHOX[H DSDUWPHQWV LV ORFDWHG RQ D TXLHW
%HQJDOXUX FORVHWRWKH6DUMDSXUURDGMXQFWLRQOLQNLQJ6DUMDSXU KLGHDZD\ RII %DQDVDZDGL 2XWHU 5LQJ URDG YHU\ 7RWDO%XLOWXS$UHD 6IW
&203/(7('352-(&76
URDGDQG0DUDWKDKDOOLURDG,WLVULJKWLQWKHKHDUWRI 7RWDO%XLOWXS$UHD 6IW FORVH WR -DOYD\X 9LKDU 7KHVH OX[XU\ KRPHV DUH
$VLD V 6LOLFR 9DOOH\ 7KLV PHDQV WKH RIILFHV IRU NQRZQIRUH[FHOOHQWZRUNPDQVKLS 1RRI8QLWV
5HVLGHQWLDO
+XJKHV ,QIRV\V ,QWHO DQG :LSUR DUH FORVH E\ -XVW 1RRI8QLWV
PLQXWHVDZD\IURPWKHVHDSDUWPHQWVDUHSUHPLXP
UHVLGHQWLDO DQG FRPPHUFLDO ORFDWLRQV VXFK DV $PHQLWLHV &KLOGUHQ VSOD\DUHD/DQGVFDSHG
$PHQLWLHV 1RFRPPRQZDOOV(3$%; DUHDV0XOWLSXUSRVHKDOO&OXEKRXVH
.RUDPDQJDOD +65 /D\RXW $LUSRUW URDG DQG
0DUDWKDOOL ([FHOOHQW IDFLOLWLHV IRU VFKRROLQJ IDFLOLW\0XOWLSXUSRVHKDOO :HOOHTXLSSHGJ\PQDVLXP,QWHUFRP
VKRSSLQJ DQG HQWHUWDLQPHQW DUH DYDLODEOH LQ WKH 3RZHUEDFNXS7RWORWDQG FRQHFWLRQEHWZHHQ6HFXULW\SRVWDQG
YLFLQLW\ 6HUYDQWWRLOHWVHWF DOOIODWVDQG6HUYDQWWRLOHWVHWF
6WUXFWXUH'HWDLO 6WLOW*URXQG)ORRUV 6WUXFWXUH'HWDLO 6WLOW*URXQG)ORRUV
3URMHFW+DQGRYHU 3URMHFW+DQGRYHU -DQ
Ǥ%(<21'$//(;3(&7$7,216ǥ'656SULQJ%HDXW\EULQJ\RXDKRPHLQ
UHVWIXOHQYLURQVRIWKH,73/URDGLQTXLHWVHWWLQJVIRUWKHIDPLO\WROLYH
ODXJK SOD\ DQG JURZ 7KH SROOXWLRQ IUHH HQYLURQPHQW UHFKDUJHV \RXU
%HQJDOXUX ERG\DQGPLQGDQGJHWV\RXUHDG\WRWDNHRQWKHFKDOOHQJHVRIDQRWKHU
&203/(7('352-(&76
GD\,QVSLWHRILWVQDWXUDOVHWWLQJV6SULQJ%HDXW\LVDOVRUHODWLYHO\FORVH
WR WKH FLW\ /RFDWHG QHDU ,73/ LW LV RQO\ DERXW NPV IURP 0* 5RDG
5HVLGHQWLDO
DQGDURXQGNPVIURP,QGLUDQDJDU$PLQXWHǢVGULYHWDNHV\RXWRWKH
DLUSRUW6SULQJ%HDXW\LVDSURMHFWRIDSDUWPHQWVZLWKWRZHUVZLWK
IORRUV HDFK 7KLV SURMHFW LQFOXGHV SUHPLXP DPHQLWLHV WKDW DUH
UHTXLUHGIRUSK\VLFDOILWQHVVUHMXYHQDWLRQDQGOHLVXUH
3URMHFW1DPH '656SULQJ%HDXW\
3URPRWHU '65&RQVWUXFWLRQV
/RFDWLRQ %URRNILHOGV%HQJDOXUX
7RWDO/DQG$UHD 6IW
7RWDO%XLOWXS$UHD 6IW
1RRI8QLWV
$PHQLWLHV -RJJLQJWUDFN*\PQDVLXP6WHDP
EDWK0XOWLSXUSRVHKDOO&OXEKRXVH
'HSDUWPHQWDOVWRUH5HDGLQJURRP
,QGRRUJDPHV6ZLPPLQJSRROZLWKD
SDYHGGHFN-DFX]]L,QWHUFRPVHFXULW\
V\VWHP&DXYHU\ZDWHUDQG&DUZDVK
DUHD
6WUXFWXUH'HWDLO %DVHPHQW*URXQG)ORRUV
3URMHFW+DQGRYHU
3URMHFW1DPH '65&UHVFHQW
3URPRWHU '65&RQVWUXFWLRQV
3URMHFW1DPH '65:LQGVRU
/RFDWLRQ 6DUMDSXU2XWHU5LQJURDG
3URPRWHU '65&RQVWUXFWLRQV
7RWDO/DQG$UHD 6IW
/RFDWLRQ 6DUMDSXU2XWHU5LQJURDG%HQJDOXUX
&5(6&(17 7RWDO%XLOWXS$UHD6IW
1RRI8QLWV
7RWDO/DQG$UHD 6IW
#6DUMDSXU2XWHU5LQJ5RDG
7RWDO/DQG$UHD 6IW #6DUMDSXU2XWHU5LQJ5RDG
$PHQLWLHV 1RFRPPRQZDOOV:HOOHTXLSSHG
Ǥ7+(%($&212)(7(51$/+$33,1(66ǥ J\PQDVLXP(3$%;IDFLOLW\ 1RRI8QLWV Ǥ7+(&(/(%5$7,212)&2/2856ǥ
&UHVFHQW LV VWUDWHJLFDOO\ ORFDWHG RQ 6DUMDSXU 0XOWLSXUSRVHKDOO&OXEKRXVH1RQ 6RDN XS LQ D KHDYHQ RI FRORXUV UHYHO LQ XQHQGLQJ
2XWHU5LQJURDG%HQJDOXUXIDVWHVWGHYHORSLQJ VWRSOLIWVHUYLFHV%HDXWLIXOO\ $PHQLWLHV 9DDVWXFRPSOLDQW1RFRPPRQZDOOV VSDFHV HVSHFLDOO\ GHVLJQHG WR VDWLDWH WKH VHQVHV
%HQJDOXUX
ORFDOLW\ &UHVFHQW LV FORVH WR DOO WKH PDMRU ODQGVFDSHGJDUGHQ&KLOGUHQ VSOD\ &OXEKRXVH*\PQDVLXP&KLOGUHQ V 7KH SDQRUDPLF YLVWD ZLOO WLQJH \RXU QHUYHV (DFK
&203/(7('352-(&76
FRUSRUDWH DQG HQWHUWDLQPHQW KXEV LQ DUHDDQG6HUYDQWWRLOHWVHWF SOD\DUHD,QWHUFRPDQG3RZHUEDFNXSHWF KRPH FRQIRUPV WR JOREDO VWDQGDUGV DQG LV
5HVLGHQWLDO
#6DUMDSXU2XWHU5LQJ5RDG
/RFDWLRQ
7RWDO/DQG$UHD
6DUMDSXU2XWHU5LQJURDG%HQJDOXUX
6IW
7RWDO/DQG$UHD
7RWDO%XLOWXS$UHD
6IW
6IW
3VGLMHW
#6-14#/#0)#.#
7RWDO%XLOWXS$UHD 6IW 1RRI8QLWV
Ǥ(1-2<7+(&260,&/,)(ǥ Ǥ7+(810$7&+(''(67,1$7,21ǥ
&RVPRVLVDQRGHWRDIODPER\DQWFRVPLFZD\ 1RRI8QLWV $PHQLWLHV 9DVWXFRPSOLDQW1RFRPPRQ '65 2UFKLGV WUDQVIRUPV \RXH H[SHFWDWLRQV RI D
RIOLIH$OLIHVW\OHPDUNHGE\H[RWLFOX[XU\DQG KRPH DQG WKHQ JRHV EH\RQG 7KH PHVPHUL]LQJ
%HQJDOXUX D ]HVW IRU OLYLQJ 6HW WR WKH FRVPLF WKHPH
ZDOO&OXEKRXVH*\PQDVLXP
$PHQLWLHV 9DDVWX&RPSOLRQQRFRPPRQZDOOV &KLOGUHQ VSOD\DUHD([WHQVLYH WUHHOLQHVWKHPXVFXODUDUFKHVDQGWKHEROGQHZ
&203/(7('352-(&76
DUHD,QWHUFRP3RZHUEDFNXSHWF 3RZHUEDFNXS
7RWDO/DQG$UHD
6DUMDSXU2XWHU5LQJURDG%HQJDOXUX
6IW
'$))2',/6
#6DUMDSXU2XWHU5LQJ5RDG
#7LSSDVDQGUD 7RWDO/DQG$UHD 6IW
7RWDO%XLOWXS$UHD 6IW
Ǥ',6&29(5&219(1,(1&(ǥ 7RWDO%XLOWXS$UHD 6IW Ǥ48$/,7</,)(029(67268%85%6ǥ
'65'LYLQHOHWV\RXHQMR\WKHEHVWRIERWKZRUOGV 1RRI8QLWV <RX FDQ HLWKHU OLYH LQ DQ RUGLQDU\ KRPH E\
WKHSHDFHDVVRFLDWHGZLWKOLYLQJLQDTXLHWDUHDDQG 1RRI8QLWV VDFULILFLQJ \RXU FRPIRUW KDUG ZRUN DQG PRQH\ RU
%HQJDOXUX WKHSUR[LPLW\WRDOOXUEDQFRQYHQLHQFHV7KHDQG \RXFDQOLYHLQD'DIIRGLOVKRPHWKDWPDWFKHV\RXU
$PHQLWLHV 9DDVWXFRPSOLDQW1RFRPPRQZDOOV
&203/(7('352-(&76
%+. DSDUWPHQWV KDYH VSDFH RSWLPL]HG GHVLJQV $PHQLWLHV 9DDVWXFRPSOLDQW1RFRPPRQZDOOV H[SHFWDWLRQ LQ HYHU\ VHQVH %H LW FRPIRUW
&OXEKRXVH*\PQDVLXP&KLOGUHQ VSOD\
ZLWK DPSOH QDWXUDO OLJKW VZHHSLQJ HYHU\ FRUQHU RI &OXEKRXVH*\PQDVLXP&KLOGUHQ V DPHQLWLHV VSHFLILFDWLRQV RU SULFLQJ \RX OO DOZD\V
5HVLGHQWLDO
WKHURRPV
DUHD,QWHUFRPDQG([WHQVLYHODQGVFDSLQJ KDYHWKHEHVWZKHQLWFRPHVWRD'DIIRGLOVKRPH
SOD\DUHD,QWHUFRP 3RZHUEDFNXS
6WUXFWXUH'HWDLO 6WLOW*URXQG)ORRUV
6WUXFWXUH'HWDLO 6WLOW*URXQG)ORRUV
3URMHFW+DQGRYHU
3URMHFW+DQGRYHU
3URMHFW1DPH '65*DOOHULD 3URMHFW1DPH '65$WULXP
XUEDQFRQVXPHU VVSHFLILFQHHGV
3URMHFW+DQGRYHU 3URMHFW+DQGRYHU
)RUWXQH,QGUD9LOODH
#0DGKDSXU
&RQWHPSRUDU\YLOODV([FHSWLRQDOORFDWLRQ
)RUWXQH ,QGUD 9LOODH LV DQ H[TXLVLWH JDWHG FRPPXQLW\ RI YLOODV
E\ 6UL 6UHHQLYDVD &RQVWUXFWLRQV 7KLV FRPPXQLW\ LV ORFDWHG LQ
+\GHUDEDG WKH KHDUW RI 0DGKDSXU VWUDWHJLFDOO\ SODFHG EHWZHHQ +LWHFK
&LW\ DG -XELOHH +LOOV ,W LQFOXGHV XEHU FODVV\ HDVW DQG ZHVW
&203/(7('352-(&76
IDFLQJ YLOODV VSUHDG DFURVV SULVWLQH DFUHV (DFK YLOOD KDV D
5HVLGHQWLDO
EXLOWXSDUHDRIVIWDSSUR[LPDWHO\
3URMHFW1DPH )RUWXQH,QGUD9LOODH
3URPRWHU 6UL6UHHQLYDVD&RQVWUXFWLRQV
7RWDO/DQG$UHD $FUHV
7RWDO%XLOWXS$UHD
3ORWDUHD 6T\GVWR6T\GV
7RWDO1RRI8QLWV 9LOODV
3URMHFW+DQGRYHU
)RUWXQH
([RWLFD DW1DQGDJLUL+LOOV
+\GHUDEDG
&203/(7('352-(&76
3URMHFW1DPH )RUWXQH([RWLFD
5HVLGHQWLDO
3URPRWHU 6UL6UHHQLYDVD&RQVWUXFWLRQV
7RWDO/DQG$UHD 6T<GV
7RWDO%XLOWXS$UHD 6IW
1RRI8QLWV )ODWV
$PHQLWLHV 6ZLPPLQJSRRO3RROGHFN*\PQDVLXP
&OXEKRXVH3RZHUEDFNXS9LGHR
GRRUSKRQH&DUVSDUNLQJSHUIODWDQG
/DQGVFDSHGDUHDVHWF
6WUXFWXUH'HWDLO &HOODU*URXQG)ORRUV
3URMHFW+DQGRYHU
2$.:22'
#1DQGDJLUL+LOOV
+\GHUDEDG
&203/(7('352-(&76
3URMHFW1DPH 2DN:RRG
5HVLGHQWLDO
3URPRWHU 6UL6UHHQLYDVD&RQVWUXFWLRQV
/RFDWLRQ 1DQGDJLUL+LOOVDGMDFHQWWR-XELOHH+LOOV
7RWDO/DQG$UHD 6T<GV
7RWDO%XLOWXS$UHD 6IW
1RRI8QLWV IODWVHDFKRI6IW
$PHQLWLHV 6ZLPPLQJSRRO3RROGHFN%DUFRXQWHU
*\PQDVLXP6TXDVKFRXUW-DFX]]L
6DXQD+RPHWKHDWUH9LGHRGRRUSKRQH
3RZHUEDFNXSDQG6HSDUDWH
PDVVDJHURRPVIRUODGLHVDQGJHQWVHWF
6WUXFWXUH'HWDLO &HOODUV*URXQGIORRUV
3URMHFW+DQGRYHU
)RUWXQH
)RUW
#0/$&RORQ\%DQMDUD+LOOV
+\GHUDEDG
&203/(7('352-(&76
5HVLGHQWLDO
3URMHFW1DPH )RUWXQH)RUW
3URPRWHU 6UL6UHHQLYDVD&RQVWUXFWLRQV
/RFDWLRQ 0/$&RORQ\%DQMDUD+LOOV
7RWDO/DQG$UHD 6T<GV
7RWDO%XLOWXS$UHD 6IW
1RRI8QLWV )ODWV
$PHQLWLHV 3RZHUEDFNXS9LGHRGRRU
SKRQHFDUVSDUNLQJSHUIODW
DQG/DQGVFDSHGDUHDV
6WUXFWXUH'HWDLO &HOODU6WLOW)ORRUV
3URMHFW+DQGRYHU
)RUWXQH
6XPPLW
DW1DQGDJLUL+LOOV-XELOHHKLOOV
+\GHUDEDG
&203/(7('352-(&76
3URMHFW1DPH )RUWXQH6XPPLW
5HVLGHQWLDO
3URPRWHU 6UL6UHHQLYDVD&RQVWUXFWLRQV
7RWDO/DQG$UHD 6T<GV
7RWDO%XLOWXS$UHD 6IW
1RRI8QLWV IODWVHDFKRI6IW
$PHQLWLHV OHYHO&DUSDUNLQJ/DQGVFDSLQJ9LGHR
GRRUSKRQH3RZHUEDFNXSHWF
6WUXFWXUH'HWDLO &HOODU6WLOWIORRUV
3URMHFW+DQGRYHU
$KFPE>3OFAB
-RXUQDOLVW&RORQ\-XELOHH+LOOV
+\GHUDEDG
&203/(7('352-(&76
3URMHFW1DPH $QLVKD3ULGH
5HVLGHQWLDO
3URPRWHU 6UL6UHHQLYDVD&RQVWUXFWLRQV
/RFDWLRQ -RXUQDOLVW&RORQ\-XELOHH+LOOV
7RWDO/DQG$UHD 6T<GV
7RWDO%XLOWXS$UHD 6IW
1RRI8QLWV IODWVHDFKRI6IW
$PHQLWLHV FDUVSDUNLQJSHUIODW/DQGVFDSHG
DUHDV9LGHRGRRUSKRQHDQG
3RZHUEDFNXS
6WUXFWXUH'HWDLO &HOODU6WLOWIORRUV
3URMHFW+DQGRYHU
/RFDWHG DW 0L\DSXU )RUWXQH +HLJKWV VWDQGV WDOO ZLWK
LWV EORFNV Ǟ ǡ$Ǣ ǡ%Ǣ LQ DFUHV RI YDVW ODQG 7KH
+\GHUDEDG FRPSOH[FRPSULVHVRIIODWVZLWKIODWVSHUIORRULQ
WKH $ EORFNDQGIODWVSHUIORRULQWKH % EORFN
&203/(7('352-(&76
3URMHFW1DPH )RUWXQH+HLJKWV
3URPRWHU 6UL6UHHQLYDVD&RQVWUXFWLRQV
/RFDWLRQ 0DGLQDJXGD
7RWDO/DQG$UHD $FUHV
7RWDO%XLOWXS$UHD 6IW
1RRI8QLWV
$UHDRI%+. 6IW
$UHDRI%+. 6IW
6WUXFWXUH'HWDLO &HOODU6WLOW)ORRUV
3URMHFW+DQGRYHU
%XLOWWRZRUOGFODVVVWDQGDUGVDQGORFDWHGLQRQHRIWKHPRVWVRXJKW
DIWHU QHLJKERUKRRGV D KRPH IURP )RUWXQH 7RZHUV OLYHV XS WR WKH
VWDWXVRIVXSHUDFKLHYHUVRIWRGD\/RFDWHGDW0DGKDSXU0DLQ5RDG
LQDFUHVRIYDVWODQGHDFKIODWKDVEHHQGHVLJQHGDVDKDYHQIRU
+\GHUDEDG OX[XU\VHHNHUVLQDQXUEDQFRQWHQWZLWKDQDUFKLWHFWXUHWKDWPDNHV
WKHEHVWXVHRIWKHRSHQVSDFHV
&203/(7('352-(&76
)RUWXQH 7RZHUV FRQVLVWV RI EORFNV ZLWK IORRUV DQG HDFK EORFN
5HVLGHQWLDO
KDV IODWV SHU IORRU (DFK EORFN KDV KLJKVSHHG OLIWV DQG RQH
JRRGV OLIW (DFK IODW KDV WZR VLGHV RI GLUHFW YHQWLODWLRQ 7KHUH LV D
GLVWDQFH RI IW EHWZHHQ IODWV DQG IW EHWZHHQ EORFNV 7KHUH LV
DOVRSURYLVLRQIRUD%DGPLQWRQFRXUWDQG/DZQEHWZHHQWZREORFNV
7KHGLVWDQFHEHWZHHQWKHFRPSRXQGZDOODQGWKHFRPSOH[LVIW
2XWRIWKHVHIWIWDUHDLVEHLQJOHIWIRUODQGVFDSLQJIWIRUWKH
MRJJLQJWUDFNDQGIWIRUWKHGULYHZD\
7KH GULYHZD\ LV GRQH ZLWK D FRPELQDWLRQ RI WLOHV DQG LQWHUORFNLQJ
EORFNV
3URMHFW1DPH )RUWXQH7RZHUV
3URPRWHU 6UL6UHHQLYDVD&RQVWUXFWLRQV
/RFDWLRQ 0DGKDSXU
7RWDO/DQG$UHD $FUHV
$UHDRI%+.6WXG\ 6IW6IW
7RWDO%XLOGXS$UHD /DNV6IW
1RRI8QLWV
$PHQLWLHV 6SDFLRXVFOXEKRXVHZLWKVWHDP-DFX]]L
DQGLQGRRUJDPHV:HOOHTXLSSHG$&
J\PQDVLXP6FUHHQLQJRIYLVLWRUVDWWKH
6HFXULW\SRVWWKURXJKDGHGLFDWHG79
FKDQQHO[VHFXULW\ZLWKLQWHUFRP
([WHQVLYHJUHHQHU\WRH[SORUHDQGLQGXOJH
2XWGRRUSOD\DUHDZLWKSOD\HTXLSPHQWIRU
FKLOGUHQDQG:DWHUVRIWHQHUSODQWHWF
6WUXFWXUH'HWDLO &HOODU6WLOW)ORRUV
3URMHFW+DQGRYHU
)25781(
1(67
DW.RQGDSXUQHDU&KLUHF6FKRRO
6SUHDGRYHUDFUH)RUWXQH1HVWKDVEORFNV $ DQG
5HVLGHQWLDO
% HDFKFRQVLVWLQJRIIORRUVZLWKDQGIODWVSHUIORRU
UHVSHFWLYHO\(DFKEORFNKDVKLJKVSHHGOLIWVDQGRQH
VHUYLFH OLIW $OO WKH IODWV RIIHU WZR VLGHV RI GLUHFW
YHQWLODWLRQ
3URMHFW1DPH )RUWXQH1HVW
3URPRWHU 6UL6UHHQLYDVD&RQVWUXFWLRQV
/RFDWLRQ .RQGDSXU
7RWDO/DQG$UHD $FUH
7RWDO%XLOWXS$UHD 6IW
1RRI8QLWV
$UHDRI%+.6WXG\ 6IW
6WUXFWXUH'HWDLO &6XE*URXQG)ORRUV
3URMHFW+DQGRYHU
7KHPHWURSROLVRI+\GHUDEDGLVDPRQJWKHPRVWH[FLWLQJFLWLHV
LQ,QGLDZLWKVHYHUDOPXOWLQDWLRQDOFRPSDQLHVOLNH0LFURVRIW
,QIRV\V :LSUR RSHUDWLQJ KHUH 7KH FLW\ KDV H[SDQGHG IDU
+\GHUDEDG EH\RQG LWV OLPLWV DQG LQWHUQDWLRQDO TXDOLW\ LQIUDVWUXFWXUH
PDNHV OLIH KHUH SOHDVDQW DQG H[FLWLQJ (GXFDWLRQ
&203/(7('352-(&76
DUHZRUOGFODVV
3URMHFW1DPH 6LOYHU6SULQJV
3URPRWHU 6UL6UHHQLYDVD&RQVWUXFWLRQV
/RFDWLRQ &=HFK&RORQ\6DQDWKQDJDU
7RWDO/DQG$UHD 6T<UGV
7RWDO%XLOWXS$UHD 6IW
1RRI8QLWV
$UHDRI%+. 6IW
$PHQLWLHV YDDVWXFRPSOLDQW1R
FRPPRQZDOOV/DQGVFDSLQJDOO
DURXQG3RZHUEDFNXSJHQHUDWRU
,QWHUFRPIDFLOLW\*\PQDVLXP
:DWHUVRIWHQHUSODQWDQG7RWORW
6WUXFWXUH'HWDLO &*URXQG)ORRUV
3URMHFW+DQGRYHU
/DNHVLGHRIIHUVWKHEHVWRIWKHOLIHVW\OHZLWKD
SOHWKRUD RI IDFLOLWLHV FUHDWHG ZLWK HYHU\ IDPLO\
PHPEHU LQ PLQG $ORQJ LWV EUHDWKWDNLQJ
+\GHUDEDG VKRUHOLQH GHQL]HQV RI WKLV UHVLGHQWLDO VSDFH
&203/(7('352-(&76
3URMHFW1DPH '65/DNHVLGH
3URPRWHU '65&RQVWUXFWLRQV
/RFDWLRQ *DFKLERZOL
7RWDO/DQG$UHD $FUHV
7RWDO%XLOWXS$UHD 6IW
$UHDRI%+. WR6IW
6WUXFWXUH'HWDLO %DVHPHQWV*URXQG)ORRUV
3URMHFW+DQGRYHU
#%DQMDUD+LOOV
(DFK EORFN KDV RQH VWHHO HQFDVHG OLIW (DFK IODW KDV IRXU VLGHV
5HVLGHQWLDO
GLUHFW YHQWLODWLRQ 7KH GLVWDQFH EHWZHHQ IODWV LV IW DQG WKDW
EHWZHHQHDFKEORFNLVIW
7KH GLVWDQFH EHWZHHQ WKH FRPSRXQG ZDOO DQG WKH FRPSOH[ LV
IW([WHQVLYHODQGVFDSLQJKDVEHHQSURYLGHGZLWKLQWKLVDUHD
3URMHFW1DPH )RUWXQH(QFODYH
3URPRWHU 6UL6UHHQLYDVD&RQVWUXFWLRQV
/RFDWLRQ 5G1R%DQMDUD+LOOV
7RWDO%XLOW8S$UHD 6IW
1RRI8QLWV
$UHDRI%+.6WXG\ 6IW6IW
'XSOH[%HGURRP 6IW
$PHQLWLHV ([WHQVLYHODQGVFDSLQJ6ZLPPLQJSRRO
DQG-DFX]]L'*EDFNXSIRUFRPPRQ
DUHDVDQGSRZHUEDFNXS
6FUHHQLQJRIYLVLWRUVDWWKHVHFXULW\SRVW
WKURXJK&&79FKDQQHO:HOOHTXLSSHG
$&J\PQDVLXP[VHFXULW\ZLWK
LQWHUFRPIDFLOLW\DQG2XWGRRUFKLOGUHQ V
SOD\DUHDZLWKHTXLSPHQWHWF
6WUXFWXUH'HWDLO &*IORRUV
3URMHFW+DQGRYHU
3URMHFW1DPH '65%DQMDUD&ODVVLF
3URMHFW1DPH :LQGVRU
3URPRWHU 6UL6UHHQLYDVD&RQVWUXFWLRQV
3URPRWHU 6UL6UHHQLYDVD&RQVWUXFWLRQV
/RFDWLRQ 5RDG1R%DQMDUD+LOOV
%$1-$5$
/RFDWLRQ %HJXPSHW
7RWDO/DQG$UHD 6T<GV
7RWDO/DQG$UHD 6T<UGV
&/$66,& 7RWDO%XLOWXS$UHD
1RRI8QLWV
6IW
Ǥ&20(+20(727+(63/(1'25ǥ
7RWDO%XLOWXS$UHD
1RRI8QLWV
6IW
:LQGVRULVORFDWHGDWEHJXPSHWQRWIRUDZD\IURP
$UHDRI%+.6WXG\ 6IW
%DQMDUD+LOOVHYRNHWKHHPRWLRQVRID WKH KXE RI FLW\ EX]]LQJ ZLWK OLIH DQG H[FLWHPHQW $UHDRI%+.6WXG\ 6IW
+\GHUDEDG 7UXH WR LWV QDPH LW FDVWV LWV VSHOO ZLWK D OLIHVW\OH
UHVLGHQWLDODXUDOLNHQRRWKHUORFDWLRQ $PHQLWLHV &HQWUDOORFDWLRQ9DDVWX
&203/(7('352-(&76
WKDW WDONV RI 6IW RI OXVK JUHHQ ODQGVFDSH $PHQLWLHV 6ZLPPLQJSRRO7RGGOHUVSRRO
+DYLQJWKLVHOLWHDGGUHVVVD\VDORWDERXW\RX FRPSOLDQFH1RFRPPRQZDOOV ZDONZD\V ZLWK EHDXWLIXOO\ ODLG JDUGHQV DQG ZLWK
5HVLGHQWLDO
3URMHFW+DQGRYHU
3URMHFW1DPH 6LJQDWXUH7RZHUV
3URMHFW1DPH '657UDQTXLO
3URPRWHU 6UL6UHHQLYDVD&RQVWUXFWLRQV
75$148,/
3URPRWHU '65&RQVWUXFWLRQV
/RFDWLRQ %RWDQLFDO*DUGHQ.RQGDSXU5G
/RFDWLRQ 0DGKDSXU+\GHUDEDG
7RWDO/DQG$UHD 6IW #0DGKDSXU
7RWDO/DQG$UHD 6T\GV
6XSHU%XLOWXS$UHD /DNK6IW '657UDQTXLOLVVWUDWHJLFDOO\ORFDWHGFORVHWR
-XELOHH+LOOVDQG+L7HFK&LW\LQ0DGKDSXU %XLOWXS$UHD 6IW
)ORRU3ODWH6L]H 726IW
2Q.RQGDSXU0DLQ5G 7KH *URXQG IORRUV FRPPHUFLDO EXLOGLQJ
+\GHUDEDG 6WUXFWXUH'HWDLO *URXQG)ORRUV
9LVLELOLW\ )W0DLQURDGIDFLQJ RIIHULQJRYHU6IWRISULPHRIILFHVSDFH
&203/(7('352-(&76
LVDOVRKRPHWRWKHFRUSRUDWHRIILFHVRI'65
&RPPHUFLDO
3URMHFW+DQGRYHU
)URQWDJH )W *URXSDQG6UL6UHHQLYDVD&RQVWUXFWLRQV
6LJQDWXUH 7RZHUV LV WUXO\ D VLJQDWXUH RIIHULQJ IURP 6UL
6UHHQLYDVD&RQVWUXFWLRQVRQWKHVWUDWHJLFDOO\ORFDWHG.RQGDSXU +HLJKWRI&HLOLQJ )W)ORRUWRIORRU
5RDGMXVWIHZPLQXWHVDZD\IURP+L7HFK&LW\
3DUNLQJ &DUV7ZRZKHHOHUV
2YHUORRNLQJWKHEHDXWLIXO%RWDQLFDO*DUGHQ6LJQDWXUH7RZHUVLV
RQHRIWKHPRVWSURPLQHQWFRPPHUFLDOFRPSOH[LQWKHYLFLQLW\
6WUXFWXUH'HWDLO *URXQG)ORRUV %DVHPHQWFDU
7KH VWDWHRIWKHDUW WRZHUV RIIHUV 6IW VSDFH VSUHDG
SDUNLQJ
DFURVV*URXQGIORRUV,WDOVRKDVH[FOXVLYHIORRUVLQWKH
EDVHPHQWIRUFDUSDUNLQJZKLFKFDQDFFRPPRGDWHRYHUFDUV 3URMHFW+DQGRYHU
DQGWZRZKHHOV
3URMHFW1DPH )RUWXQH$WULXP 3URMHFW1DPH )RUWXQH%D\
/RFDWLRQ 5G1R-XELOHH+LOOV
)RUWXQH /RFDWLRQ 5G1R-XELOHH+LOOV
7RWDO/DQG$UHD 6T<GV
%D\ 7RWDO/DQG$UHD 6T<GV
DW-XELOHH+LOOV
7RWDO%XLOWXS$UHD 6IW DW-XELOHH+LOOV 7RWDO%XLOWXS$UHD 6IW
+\GHUDEDG
&203/(7('352-(&76
FRPSUHKHQVLYHVROXWLRQIRUHGXFDWLRQWKDWHQYHORSHV
WKH LQGLYLGXDO V OHDUQLQJ SHULRG ULJKW IURP WKH
IRUPDWLYH HDUO\ \HDUV WR WKH FKDOOHQJLQJ XQLYHUVLW\
\HDUV 7KH FXUULFXOXP PRYHV DZD\ IURP FRQWHQW
RYHUORDG WR FRQFHSWXDO XQGHUVWDQGLQJ DQG FRQQHFWV
OHDUQLQJWRUHDOOLIH
%LUOD(GXWHFK/LPLWHGLVDQHGXFDWLRQLQLWLDWLYHRIWKH
<DVK %LUOD JURXS ,W KDV HPEDUNHG RQ D MRXUQH\ WR
UHYROXWLRQL]H HGXFDWLRQ LQ ,QGLD E\ EHFRPLQJ DQ
DJHQW RI FKDQJH IRU OHDUQHUV DFURVV DOO HGXFDWLRQDO
VHJPHQWVSUHVFKRRO.VFKRROKLJKHUHGXFDWLRQ
FRQWLQXRXV HGXFDWLRQ WHFKQRORJLFDO DQG YRFDWLRQDO
HGXFDWLRQ
7KH %LUOD IDPLO\ KDV DOZD\V EHHQ UHQRZQHG IRU LWV
IRFXV RQ HGXFDWLRQ ,W KDV WKH KHULWDJH RI EXVLQHVV
DQG SKLODQWKURS\ ZKLFK UHIOHFWV LQ DOO HQGHDYRXUV
XQGHUWDNHQE\WKHP
3URMHFW1DPH 2SHQ0LQGV
3URPRWHU '65(GXFDWLRQDO6RFLHW\
/RFDWLRQ .ROOXU255+\GHUDEDG
7RWDO/DQG$UHD $FUHV
7RWDO%XLOWXS$UHD 6IW
1RRI&ODVVURRPV &ODVVURRPV
6WUXFWXUH'HWDLO *URXQG)ORRUV
3URMHFW+DQGRYHU
6LOYHU 2DN LV D PXOWLVWRULHG EXLOGLQJ ZLWK
H[TXLVLWHO\ SODQQHG KRPHV ,W LV WUXO\ IRU
FRQQRLVVHXUVRIJRRGOLYLQJ)DEXORXVO\GHVLJQHG
&KHQQDL DSDUWPHQWV UHDG\ WR RIIHU \RX JOREDO OLIHVW\OH
&203/(7('352-(&76
6LOYHU2DNWDNHV\RXWRDQHZOHYHORIOLYLQJWKDW
5HVLGHQWLDO
PDWFKHV\RXUOLIHVW\OH
,W LV HTXLSSHG ZLWK DOO PRGHUQ DPHQLWLHV
LQFOXGLQJ VZLPPLQJ SRRO *\P ,QGRRU JDPHV
3LSHGJDVV\VWHPHWF6LOYHU2DNRIIHUV%+.DQG
%+.RSWLRQVRIYDULRXVGLPHQVLRQV
6LOYHU2DNLVVWUDWHJLFDOO\ORFDWHGRQWKH9HODFKHU\
7DPEDUDPPDLQURDG
3URMHFW1DPH 6LOYHU2DN
3URPRWHU 6UL6UHHQLYDVD&RQVWUXFWLRQV
/RFDWLRQ &DPS5RDG-XQFWLRQ9HODFKHUU\
7KDPEDUDP0DLQ5RDG6HOD\XU
9LOODJH7DPEDUDP&KHQQDL
7RWDO/DQG$UHD *URXQGV
$PHQLWLHV 6ZLPPLQJSRRO*\P,QGRRUJDPHV
3RZHUEDFNXSDQG0XOWLSXUSRVHKDOO
6WUXFWXUH'HWDLO %DVHPHQW*URXQGIORRUVIORRUV
FRPPHUFLDOIORRUVUHVLGHQWLDO
3URMHFW+DQGRYHU
,PSHULDO 7RZHUV LV ORFDWHG RSSRVLWH 6LUXVHUL ,7 3DUN RQ 2OG
0DKDEDOLSXUDPURDG 205 7KH,7FRUULGRURU5DMLY*DQGKL6DODL
UHIHUVWRWKHNPVWUHWFKRIURDGUXQQLQJVRXWKIURP$G\DULQ
&KHQQDL &KHQQDL ,W LV LQ WKH QHZV YHU\ RIWHQ 7KLV VWUHWFK VWDQGV DV D
&203/(7('352-(&76
VKRZSLHFHDGHVWLQDWLRQIRULQYHVWPHQWVE\JOREDOOHDGHUVLQ,7
5HVLGHQWLDO
DQG,7(6,WRSHQVXSDZKROHQHZVSDFHIRU&KHQQDLWRJURZLQWKH
FRPLQJ\HDUV,PSHULDO7RZHUVLVVSUHDGDFURVVDFUHVRISULPH
ODQGZLWK %+. DSDUWPHQWVZLWKDSSHDOLQJDUFKLWHFWXUH
7KLV GHYHORSPHQW LV EURXJKW WR &KHQQDL E\ 6UL 6UHHQLYDVD
&RQVWUXFWLRQVRQHRIWKHSLRQHHUVLQEXLOGLQJ+\GHUDEDG VILQHVW
UHVLGHQWLDOHQFODYHV
3URMHFW1DPH ,PSHULDO7RZHUV
3URPRWHU 6UL6UHHQLYDVD&RQVWUXFWLRQV
/RFDWLRQ 2055RDG&KHQQDL
7RWDO/DQG$UHD $FUHV
7RWDO%XLOWXS$UHD 6IW
6WUXFWXUH'HWDLO 6WLOWIORRUV
3URMHFW+DQGRYHU
83510
&2175$&78$/
352-(&76
5DLQERZ9LVWDV
*RYHUQPHQW3URMHFWV([HFXWHG%\ 83510
&203/(7('352-(&76$&5266,1',$
&RQWUDFWXDO3URMHFWV
&OLHQW 0V8WWDU3UDGHVK5DVKWUL\D
1LUPDQ1LJDP0V83510
<HDURI 9DOXHRI
3ODFHRI:RUN 1DPHRI:RUN 1DWXUHRI:RUN :RUNV$ZDUGHGE\ /RFDWLRQ -KDQVL8WWDU3UDGHVK
:RUN WKH:RUN
/DPMDQD &RVQWUXFWLRQRI &RQVWUXFWLRQRIUHVLGHQWLDO 5V&URUHV ([HFXWLYH(QJLQHHUHDUWKTXDNH 7\SH 3DUDPHGLFDO&ROOHJH,QVWLWXWLRQ
/DWWXUGLVWULFW HDUWKTXDNHUHKDELODWLRQ KRXVHVURDGVGUDLQV UHKDELODWLRQSURMHFW
0DKDUDVWUD SURMHFWDW/DWWXU3KDVHL VXEVWDWLRQDQGDPHQLWLHV /DWWXUGLVWULFW0DKDUDVWUD 6FRSHRI:RUN $OOFLYLOHOHFWULFDO3OXPELQJDQG
ILQLVKLQJZRUNV
/DPMDQD &RVQWUXFWLRQRI &RQVWUXFWLRQRIUHVLGHQWLDO 5V&URUHV ([HFXWLYH(QJLQHHUHDUWKTXDNH
/DWWXUGLVWULFW HDUWKTXDNHUHKDELODWLRQ KRXVHVURDGVGUDLQV UHKDELODWLRQ3URMHFW/DWWXU
VXEVWDWLRQDQGDPHQLWLHV GLVWULFW0DKDUDVWUD 6XSHU%XLOWXS$UHD 6IW
0DKDUDVWUD SURMHFWDW/DWWXU3KDVHLL
%+(/FRORQ\ &RQVWUXFWLRQRI0,* /,* 5HVLGHQWLDOTXDWHUVIRU 5V&URUHV %+(/HPSOR\HHVFRRSHUDWLYH 1XPEHURI)ORRUV *URXQG)ORRUV
5DPDFKDQGUDSXUDP TXDUWHUVDW%+(/FRORQ\ %+(/HPSOR\HHV KRXVLQJVRFLHW\OWG
55GLVWULFW+\G 3KDVHLL 3URMHFW+DQGRYHU RQZDUGVLQSKDVHV
$UHNHUDYLOODJH &RQVWUXFWLRQRIULJKWEDQN &DQDOH[FDYDWLRQDQG 5V&URUHV &KLHI(QJLQHHUXSSHUNULVKQD
5DLFKXUGLVWUFW FDQDOWKGLVWULEXWDU\DW OLQLQJZRUNV SURMHFWFDQDOFLUFOH
.DUQDWDND NPWRNPXSSHU %KHHPDUD\DQDJXGL*XOEXUJD
.ULVKQDSURMHFW GLVWULFW
*XOEDUJD &RQVWUXFWLRQRIVHZDJH 8QGHUJURXQGGUDLQJH 5V&URUHV 0DQDJLQJ'LUHFWRU.::6 6
.DUQDWDND WUHDWPHQWSODQWPDQKROHV V\VWHPWR*XOEDUJDFLW\ ERDUG%HQJDOXUX
DQG8*'VFKHPH3KDVHLL
DW*XOEDUJD
*XOEDUJD%LGKDU &RQVWUXFWLRQRITXDUWHUV 5HVLGHQWLDOTXDUWHUVIRU 5V&URUHV .DUQDWDNDVWDWHSROLFHKRXVLQJ
%DOODUL%DJDONRW WRSROLFHSHUVRQHOWKURXJK SROLFHSHUVRQHO 3& 6LǢV FRUSRUDWLRQULFKPRQGURDG
%LMDSXU.RSSDO RXW.DUQDWDND3KDVHLY %HQJDOXUX
3URMHFW1DPH 5DLQERZ9LVWDV
3URPRWHU &\EHU&LW\EXLOGHUVDQGGHYHORSHUV
/RFDWLRQ +\GHUDEDG$3
7\SH 5HVLGHQWLDO$SDUWPHQWV
6FRSHRI:RUN &LYLOHOHFWULFDOSOXPELQJDQGILQLVKLQJ
ZRUNLQFOXGLQJODQGVFDSLQJ
7RWDO/DQG$UHD $FUHV
6XSHU%XLOWXS$UHD 6IW
1RRI)ORRUV &HOODU6WLOWIORRUV
3URMHFW+DQGRYHU
%(1*$/858
3UHPLXP+LJKULVH/X[XU\$SDUWPHQWV#&DUPHODUDP2II6DUMDSXU5RDG $FUHVDSSUR[
83&20,1* &+(11$,
&UHVFHQW+HLJKWV
/RFDWLRQ2SS6DW\DEDPD&ROOHJH&KHQQDL
352-(&76
7RWDO/DQG$UHD*URXQGV
6WUXFWXUH%DVHPHQW6WLOW)ORRUV 7RZHUV
1RRI8QLWVLQWRWDO %+.
+<'(5$%$'
8EHU/X[XU\$SDUWPHQWV#5RDG1R%DQMDUDKLOOV
'LVFODLPHU7KHLQIRUPDWLRQWKDWLVSUHVHQWHGDQGVKRZFDVHGLQWKLVERRNOHWLVWUXHWRWKHEHVWRIRXUNQRZOHGJH'65*URXSZRXOGUHVHUYHWKHDOOULJKWVWRPDNHWKHQHFHVVDU\
FKDQJHVLIDQ\LQIRUPDWLRQWKDWLVSURYLGHGLQWKLVERRNOHWLVVKRUWRIRXUKLJKH[SHFWDWLRQV
ZZZWHDPZRUNVLQ
$Q,62FRPSDQ\
$Q,62
2+6$6&HUWLILHG&RPSDQ\
+<'(5$%$' +<'(5$%$'
'657UDQTXLO3ORW1R$\DSSD6RFLHW\0DLQ5RDG '657UDQTXLO3ORW1R$\DSSD6RFLHW\0DLQ5RDG
0DGKDSXU+\GHUDEDG,QGLD 0DGKDSXU+\GHUDEDG,QGLD
3KRQH)D[ 3KRQH)D[
(0DLOK\G#GVULQIUDFRP (0DLOLQIR#VULVUHHQLYDVDFRP
%(1*$/858 &+(11$,
'65',<$$5&$'(VW)ORRUWK0DLQ+5%5/D\RXW QG)ORRU$1DWZHVW9LMD\%ORFN9HODFKHU\
VW%ORFN([WQ.DO\DQQDJDU%HQJDOXUX,QGLD 7DPEDUDP0DLQ5RDG3DOOLNDUDQDL&KHQQDL,QGLD
7) 3KRQH
(LQIR#GVULQIUDFRP (0DLOFKHQQDL#VULVUHHQLYDVDFRP
ZZZGVULQIUDFRP ZZZVULVUHHQLYDVDFRP