April 1, 2016 April 1, 2016 | Page 2

3DJH7KH&ROHEURRN&KURQLFOH)ULGD\$SULO *ROI/LQNV5RDG &RQWLQXHGIURPSDJH WR LWV SULYDWH SURSHUW\ RZQHU ZKLFK LV WKH %DOVDPV 5HVRUW RZQHUV 'DQ +HEHUW DQG 'DQ 'DJHVVH 7KH '27 UHSUHVHQWDWLYHV QRWHG WKDW WKH SXUSRVH RI XSJUDGLQJ WKH URDG DQG WXUQLQJ LW EDFN RYHU WR WKH SURSHUW\RZQHUVZDVLQWKHQDPH RI HFRQRPLF GHYHORSPHQW DQG D ZD\ RI VKRZLQJ VXSSRUW IRU WKH SURMHFW +RZHYHU DFFRUGLQJ WR WKH '27 $VVLVWDQW &RPPLVVLRQHU %LOO &DVV LI WKH %DOVDPV UHKDELOLWDWLRQSURMHFWGRHVQRWJR IRUZDUG WKHQ LWªV §YHU\ OLNHO\ WKHUH ZRXOGQªW EH D QHHG WR LQYHVWLQWKLVSURMHFW¨ 7KHUHDUH PDQ\ DVSHFWV RI WKH %DOVDPV SURMHFW WKDW QHHG WR PRYH IRUZDUGWKHVLWHSODQQHHGVWRJR EHIRUHWKH&RRV&RXQW\3ODQQLQJ ERDUG IRU DSSURYDOV WKHUH DUH PDQ\SHUPLWVWKDWZLOOEHQHHGHG E\ D YDULHW\ RI VWDWH DJHQFLHV DQGWKHDJUHHPHQWRQDFKDQJH LQ HD d