July 2017 July 14, 2017

)5(( &ROHEURRNª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§SRWHQWLDO IXWXUHEXVLQHVVH[SDQVLRQ¨ 0206 LV D IDPLO\ RZQHG EXVLQHVVIRXQGHGLQ0DQFKHVWHU LQ7KHQHZ*URYHWRQVLWH NQRZQDV(PHUVRQ2XWGRRU2XW ILWWHUV FORVHG HLJKW \HDUV DJR &RQWLQXHGRQSDJH /RRNLQJ7R+RXVH6WDWH/LTXRU6WRUH$W6LWH 1XJHQW([SDQVLRQ$SSURYHG %\&ROHEURRN3ODQQLQJ%RDUG 7KHIRUPHU(PHUVRQ2XWGRRU2XWILWWHUVVWRUHRQ5RXWHLQ*URYHWRQZKLFKKDVVDWYDFDQWVLQFH KDVRIILFLDOO\EHHQSXUFKDVHGE\0206RI/DQFDVWHUDSRZHUVSRUWVGHDOHUVKLS&KDUOHV-RUGDQSKRWR *URYHWRQ0DQ'LHV,Q6XQGD\&UDVK 7RG 'DOSKRQVH  RI 1RU WKXPEHUODQGWKHRZQHURI7RGªV $XWR %RG\ LQ *URYHWRQ SDVVHG DZD\IURPLQMXULHVUHFHLYHGLQD FDU DFFLGHQW HDUO\ RQ 6XQGD\ PRUQLQJ-XO\ 7RG ZDV D ORFDO EXVLQHVV RZQHU LQ *URYHWRQ ZKHUH KH VSHFLDOL]HG LQ FDU UHVWRUDWLRQV DQGHQMR\HGUDFLQJLQWKH(QGXUR FKDOOHQJH DW 6SHHGZD\  LQ *URYHWRQ 3HWH DQG 1DQF\ 0DUVKDOO RI *URYHWRQOLYHQH[WGRRUWR7RGªV EXVLQHVV RQ 5WH  DQG WDON KLJKO\ RI KLP DV EHLQJ D JRRG QHLJKERU§+HZDWFKHGRXWIRUP\ SODFHDQGYLFHYHUVD¦LI,QHHGHG D KDQG ZLWK DQ\WKLQJ KH ZDV ZLOOLQJ WR KHOS¨ 3HWH WROG WKH &KURQLFOHWKLVZHHN &RQWLQXHGRQSDJH *1:&$6XPPHU&RQFHUWV$W0RQDGQRFN&RQJUHJDWLRQDO&KXUFK %RE$PRV &DWDPRXQW&URVVLQJ 5HWXUQLQJ7R&ROHEURRN-XO\ %RE $PRV  &DWDPRXQW &URVVLQJUHWXUQWR&ROHEURRNRQ 6DWXUGD\-XO\DWSPIRU ZKDWZLOOEHDQLJKWRIWRSIOLJKW EOXHJUDVVE\RQHRIWKHUHJLRQªV IDYRULWHV 3UHVHQWHGE\WKH*UHDW1RUWK :RRGV &RPPLWWHH )RU WKH $UWV DQG FRVSRQVRUHG E\ 1RUWK &RXQWU\)RUG%RE$PRVDQGKLV FUHZ UROO RYHU IURP 9HUPRQW WR VKRZ  ZK\  WKH\  KDYH  EHFRPH RQHRIWKHELJJHVWGUDZVHYHU\ \HDUGXULQJ6W-RKQVEXU\ªV)LUVW 1LJKW §%RE  DQG &DWDPRXQW &URVVLQJZLOOEHFHQWHUVWDJHDW 0RQDGQRFN &RQJUHJDWLRQDO &RQWLQXHGRQSDJH %\'RQQD-RUGDQ $VLWHSODQIRUWKHH[SDQVLRQ RI 1RUWKZRRGV 7UXFN 6WRS RQ 5WHQRUWKRIGRZQWRZQ&ROH EURRN ZDV DSSURYHG WKLV ZHHN SDYLQJ WKH ZD\ IRU ZKDW FRXOG SRWHQWLDOO\ EH WKH QHZ ORFDWLRQ RIWKH1+OLTXRUVWRUH $W WKH 0D\ SODQQLQJ ERDUG PHHWLQJ 1RUWKZRRGV 7UXFN 6WRS RZQHU -RKQ 1XJHQW SUH VHQWHGDVLWHSODQZKLFKFDOOVIRU DQDGGLWLRQWRKLVVWRUH¦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¦WKH YHKLFOH EHORQJHG WR *ORYHU 6WDUNH\ UHSRUWHGO\ SXOOHG RYHU ZLWKRXW LQFLGHQW DQG ZDV &RQWLQXHGRQSDJH 7KH3DGG\$FUH)LUHRI)URP&ROHEURRN