June 3 2016 June 10, 2016

)5(( &ROHEURRNª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¶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ªV-RKQ-RKQVRQZDVSUHVHQWHGZLWKWKHWRZQªV%RVWRQ 3RVW&DQHRQ0RQGD\KDYLQJWKHGLVWLQFWLRQRIEHLQJWKHWRZQªVROGHVW UHVLGHQW0DNLQJWKHSUHVHQWDWLRQZHUHWKHWRZQVHOHFWPHQVWDQGLQJ IURP WKH OHIW 6WHYH (OOLV %UHQGRQ 0F.HDJH DQG 5LFKDUG /DSRLQW &KDUOHV-RUGDQSKRWR %\7KRPDV-RUGDQ &RQVWUXFWLRQ ILQLVKHG RQ E\ PLGZHHN RQ D QHZ JD]HER FUHDWLQJ D VWULNLQJ FHQWHU SRLQW IRU 3LWWVEXUJªV WRZQ FRPPRQ 7KH SDUWV FDPH LQ PRGXODU SLHFHVRQDWUDLOHUDVVHPEOHGE\ D WHDP IURP $PLVK &RXQWU\ *D]HERV RXW RI 0DQKHLP 3D 7KH IRRW RFWDJRQDO VWUXFWXUH ZHQW XS LQ MXVW RQH GD\ ZLWK &RQWLQXHGRQSDJH $W7LOORWVRQ&HQWHULQ&ROHEURRN *1:&$3UHVHQWV%DUUXOH¶V0XVLF )URP7KH,VOH2I0DQ2Q-XQH )LQLVKLQJ WRXFKHV ZHUH SXW RQ 3LWWVEXUJªV QHZ JD]HER DW WKH WRZQ SDUNRQ:HGQHVGD\PRUQLQJ7KRPDV-RUGDQSKRWR 6FKRRO2SHQHG,Q&ORVHV'RRUV 7RGD\,V/DVW'D\ )RU*XLOGKDOO6FKRRO 7KH ,VOH RI 0DQ LQ WKH ,ULVK 6HD EHWZHHQ ,UHODQG DQG (QJODQG LV D VPDOO SODFH VHH PDS DERYH  ZLWK ELJ PXVLF WR RIIHUWKHZRUOG)URPWKLVLVODQG PHDVXULQJ RQO\  PLOHV ORQJ DQG  PLOHV ZLGH FRPHV VRPH RI WKH PRVW SRZHUIXO VRXQGV WKH RQ ZDYHV PDNLQJ LQWHUQDWLRQDOPXVLFVFHQHWRGD\ $QGDWWKHIRUHIURQWLVWKH\RXQJ EDQG%DUUXOHZKLFKLVDERXWWR EXUVWRQWRWKH$PHULFDQVFHQHLQ LWVILUVW86WRXU §:HDUHGHOLJKWHGWREHRQHRI WKHYHU\ILUVWVWRSVRQ%DUUXOHªV 86 WRXU¨ VDLG *UHDW 1RUWK %\7KRPDV-RUGDQ 7KXUVGD\PDUNHGWKHHQGRI WKH\HDU §PRYLQJ XS¨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§:KHQ ZH KDG D FKDQFH WR VHH WKHP SHUIRUPDWDIHVWLYDOLQ0RQWUHDO ODVW \HDU ZH NQHZ WKDW ZH ZDQWHG WR EULQJ WKHP WR &ROHEURRN )RUWXQDWHO\ WKHLU VFKHGXOH WKLV PRQWK DOORZV IRU WKDWWRKDSSHQ¨ %DUUXOH ZLOO EH DSSHDULQJ SUHVHQWHG E\ WKH *1:&$ DQG VSRQVRUHG E\ 95 &RQFUHWH RQ 0RQGD\-XQHDWSP7KH *1:&$KDVFKRVHQWREULQJWKH JURXS WR WKH 7LOORWVRQ &HQWHU ZKHUHWKH*1:&$KDVEURXJKW &RQWLQXHGRQSDJH $QHUDHQGVWRGD\LQ*XLOGKDOOZKHQWKHWRZQªVVFKRROVD\V§FODVV GLVPLVVHG¨IRUWKHODVWWLPH6FKRROZLOOFRQFOXGHWRGD\ZLWKDFRRNRXW IROORZHGE\ILQDOGLVPLVVDODWSP&KDUOHV-RUGDQSKRWR