March 4 2016 March 11 2016
)5((
&ROHEURRNªV/DUJHVW&LUFXODWHG:HHNO\1HZVSDSHU
7KH&ROHEURRN&KURQLFOH
&29(5,1*7+(72:162)7+(833(5&211(&7,&875,9(59$//(<
)5,'$<0$5&+
92/12
3UHFHGHG0RQGD\1LJKW¶V3XEOLF+HDULQJ,Q&ROHEURRN
6(&7RXU7DNHQ2I1RUWKHUQ3DVV,PSDFW$UHDV
%\'RQQD-RUGDQ
0HPEHUV RI WKH 1+ 6LWH
(YDOXDWLRQ
VXEFRPPLWWHH
RYHUVHHLQJ WKH 1RUWKHUQ 3DVV
WUDQVPLVVLRQ OLQH DSSOLFDWLRQ
&RQWLQXHGRQSDJH
6QRZPRELOHU
'LHV,Q&UDVK
2Q0DUFKDWDSSUR[LPDWHO\
SP\HDUROG3DXO)RUWLQ
RI
*URYHWRQ
FUDVKHG
D
VQRZPRELOH ZKLOH RSHUDWLQJ
&RQWLQXHGRQSDJH
7RZQ0HHWLQJ
'D\5HVXOWV
2QHRI1HZ(QJODQGªVDQQXDO
ULWHVRISUHVSULQJ7RZQ0HHWLQJ
'D\ VDZ WRZQV DOO RYHU RXU
UHJLRQKDPPHURXWEXGJHWVDQG
YRWHU XS RU GRZQ D SOHWKRUD RI
&RQWLQXHGRQSDJH
%DQN3UHVLGHQW
'ROOLQV5HWLULQJ
2Q0RQGD\PRUQLQJWKH1+6LWH(YDOXDWLRQVXEFRPPLWWHHDQGRWKHUVWRXUHG
VHYHUDO VLWHV DORQJ WKH SURSRVHG 1RUWKHUQ 3DVV WUDQVPLVVLRQ OLQH SURMHFW 7RS
SKRWR$VLPXODWLRQRIDWRZHURQD3LWWVEXUJSDUFHOSURYLGHGWRWKH6(&%RWWRP
SKRWR7KHVFHQHDVLWORRNVSUHVHQWO\ZLWKRXWDWRZHU&KDUOHV-RUGDQSKRWR
7RS SKRWR ,Q 3LWWVEXUJ ORRNLQJ DW SKRWR VLPXODWLRQV
%RWWRP SKRWR (PSOR\HHV RI WKH 6(& PHPEHUV RI WKH
FRPPLWWHHDQGRWKHUVRQWKHWRXUZDONWKURXJKWKHVQRZ
RQ+DOO6WUHDP5RDG&KDUOHV-RUGDQSKRWRV
*UDQLWH %DQN DQG )LUVW
&ROHEURRN
%DQFRUS
,QF
DQQRXQFHVWKDW/R\G:'ROOLQV
3UHVLGHQW DQG &KLHI ([HFXWLYH
&RQWLQXHGRQSDJH
*1:&$%ULQJLQJ7R7LOORWVRQ&HQWHU
,VOD\0LVW&HLOLGK$QG)LUHVLGH)LGGOHUV
3HUIRUP,Q&ROHEURRN2Q0DUFK
7ZR RI WKH UHJLRQªV PRVW
SRSXODUPXVLFDOHQVHPEOHV¥RQH
&HOWLF DQG RQH ROGWLPH\¥ZLOO
VKDUH WKH ELOO DW WKH 7LOORWVRQ
&HQWHU LQ &ROHEURRN RQ )ULGD\
0DUFKZKHQWKH*UHDW1RUWK
:RRGV &RPPLWWHH IRU WKH $UWV
SUHVHQWV,VOD\0LVW&HLOLGKDQG
WKH)LUHVLGH)LGGOHUV
7KHVKRZZKLFKEHJLQVDW
SPZLOOEULQJWRJHWKHURYHU
RIWKHUHJLRQªVSHUIRUPHUVIRUD
QLJKWRIPXVLFWKDWZLOOLQFOXGH
GR]HQVRIWXQHV
1RUWKHUQ 1HZ +DPSVKLUHªV
RZQ&HOWLFHQVHPEOH,VOD\0LVW
&HLOLGKIUHVKIURPLWVVXFFHVVIXO
DSSHDUDQFHDW)LUVW1LJKWLQ6W
-RKQVEXU\9WZKHUHWKHJURXS
SOD\HGWRRYHUSHRSOHZLOOEH
&RQWLQXHGRQSDJH
&HFLODQG/LQGD+LNHOVKDUHDURRWEHHUIORDWDWWKH*UDFH&RPPXQLW\
&KXUFK6RFN+RSGLQQHUKHOGRQ6DWXUGD\HYHQLQJLQ&DQDDQ0DQ\
USPUHFRUGVGHFRUDWHGWKHWDEOHV&RXUWHV\SKRWR
*URYHWRQ7R9RWH2Q%RQG
7D[%UHDN$W2OG0LOO6LWH
7KHUHJLRQªVRZQ&HOWLFHQVHPEOH,VOD\0LVW&HLOLGKZLOOEHSHUIRUPLQJLQFRQFHUWDWWKH7LOORWVRQ&HQWHU
LQ&ROHEURRNRQ)ULGD\0DUFK$OVRRQWKHELOODWWKLV*1:&$VKRZLV7KH)LUHVLGH)LGGOHUV7LFNHWV
DUHDQGQRZRQVDOHDW)LGGOHKHDGVDQGDWWKHGRRURQWKHQLJKWRIWKHVKRZ&RXUWHV\SKRWR
%\'RQQD-RUGDQ
7KH ODVW RI WKH XSSHU &RRV
7RZQ 0HHWLQJV JHWV XQGHUZD\
WRPRUURZ DW DP LQ
1RUWKXPEHUODQG ZLWK WKH
DQQXDO6FKRRO0HHWLQJIROORZHG
DW DSSUR[LPDWHO\ DP ZLWK
WKHDQQXDO7RZQ0HHWLQJ
9RWHUVWKLV\HDUZLOOEHDVNHG
WR DSSURYH D EXGJHW RI
DUHGXFWLRQIURPODVW
\HDUªV ILQDO EXGJHW H[SHQVHV RI
$PRQJ WKH ZDUUDQW
DUWLFOHV WKH WRZQ RIIHUV XS WKLV
\HDU LV DUWLFOH ILYH¦ZKLFK DVNV
IRUDQDSSURSULDWLRQRIXSWR
PLOOLRQ IRU SKDVH WZR RI WKH
ZDWHUVHZHU H[WHQVLRQ XS WKH
&RQWLQXHGRQSDJH