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^ŶĂŬĞƌĞĞŬWƌŽƐƉĞĐƚƌĞƚƵƌŶŝŶŐƚŽϬ͘ϮϬƉƉŵƵ͕ϯϵϬƉƉŵŐ͕ϮϮ͘ϰйWď͕ϰϲϰƉƉŵ ^ďϭ͘  DhE>;^y͗DhͿ͕;͞Dh͟Žƌ͞ƚŚĞŽŵƉĂŶLJ͟Ϳ͕ŝƐƉůĞĂƐĞĚƚŽƉƌŽǀŝĚĞƚŚĞŵĂƌŬĞƚǁŝƚŚĨƵƌƚŚĞƌƌĞƐƵůƚƐ ĨƌŽŵŐĞŽĐŚĞŵŝƐƚƌLJƐĂŵƉůŝŶŐĂƚŝƚƐ'ĞŽƌŐĞƚŽǁŶWƌŽũĞĐƚ͕ĐŽŶĚƵĐƚĞĚĚƵƌŝŶŐEŽǀĞŵďĞƌͲĞĐĞŵďĞƌϮϬϮϯ͘ dŚĞŵŽƐƚƐŝŐŶŝĮĐĂŶƚƌĞƐƵůƚƐǁĞƌĞƌĞƚƵƌŶĞĚĨƌŽŵƚŚĞ&ŝĞƌLJƌĞĞŬŽƉƉĞƌ;ĞůĞǀĂƚĞĚƵͲƵͲŐͲŝͲ/ŶͲWďͲ ^ďͲdĞͿĂŶĚ^ŶĂŬĞƌĞĞŬ;ĞůĞǀĂƚĞĚWďͲŐͲƵͲ^ďͿWƌŽƐƉĞĐƚƐ͘   ZĞĨĞƌƚŽdĂďůĞϮĨŽƌĨƵůůƐƵŵŵĂƌLJŽĨƌŽĐŬĐŚŝƉƌĞƐƵůƚƐ͘ $%1_:DONHU$YHQXH:HVW3HUWK:$_32%R[:HVW 3HUWK:$(LQIR#HPXQOFRPDX_ZZZHPXQOFRPDX_$6;&RGH(08     ƐƐĂLJƌĞƐƵůƚƐĂŶĚŵĂĐƌŽͲƉĞƚƌŽůŽŐLJĂƐƐĞƐƐŵĞŶƚϮĐŽŵƉůĞƚĞĚďLJEŝŐĞůDĂƵŶĚ͕ŽŶƐƵůƟŶŐĐŽŶŽŵŝĐ 'ĞŽůŽŐŝƐƚ͕ŽĨŽƵƚĐƌŽƉƐĂŵƉůĞƐĨƌŽŵƚŚĞƉƌĞǀŝŽƵƐůLJƵŶĞdžƉůŽƌĞĚ&ŝĞƌLJƌĞĞŬWƌŽƐƉĞĐƚĂƌĞŝŶĚŝĐĂƟǀĞŽĨ ĂƉŽƌƉŚLJƌLJƵͲDŽƐLJƐƚĞŵ͘ dŚĞ ƐĂŵƉůŝŶŐ ƉƌŽŐƌĂŵ ǁĂƐ ĚĞƐŝŐŶĞĚ ƚŽ ĂƐƐĞƐƐ Ă ŶƵŵďĞƌ ŽĨ ŚŝŐŚĞƌͲƉƌŝŽƌŝƚLJ ƉƌŽƐƉĞĐƚƐ ǁŝƚŚŝŶ ƚŚĞ 'ĞŽƌŐĞƚŽǁŶWƌŽũĞĐƚƚĞŶĞŵĞŶƚƐƵƟůŝƐŝŶŐƚĞƌŵŝƚĞŵŽƵŶĚĂŶĚŽƵƚĐƌŽƉƌŽĐŬĐŚŝƉŐĞŽĐŚĞŵŝƐƚƌLJ͘ƚŽƚĂů ŽĨϰϲƌŽĐŬĐŚŝƉĂŶĚϰϴϵƚĞƌŵŝƚĞŵŽƵŶĚƐĂŵƉůĞƐǁĞƌĞĐŽůůĞĐƚĞĚĂĐƌŽƐƐĞŝŐŚƚƉƌŽƐƉĞĐƚƐ͘ dŚĞƉƌŽŐƌĂŵǁĂƐĐƵƌƚĂŝůĞĚĚƵĞƚŽƚŚĞŝŵŵŝŶĞŶƚĂƌƌŝǀĂůŽĨdƌŽƉŝĐĂůLJĐůŽŶĞ:ĂƐƉĞƌ͘tŚŝůƐƚƌĂŝŶĨĂůůĨŽƌ ĞĐĞŵďĞƌŝŶ'ĞŽƌŐĞƚŽǁŶƚŽƚĂůůĞĚĂƐĞĂƐŽŶĂůĂǀĞƌĂŐĞŽĨϳϭ͘ϲŵŵ͕ƐƵďƐĞƋƵĞŶƚĂďŽǀĞĂǀĞƌĂŐĞƌĂŝŶĨĂůů ŽĨϱϬϯŵŵŝŶ:ĂŶƵĂƌLJĂŶĚϮϱϯŵŵƚŽĚĂƚĞŝŶ&ĞďƌƵĂƌLJŚĂƐŚŝŶĚĞƌĞĚĂĐĐĞƐƐĨŽƌŝŵŵĞĚŝĂƚĞĨŽůůŽǁƵƉ ǁŽƌŬ͘ dĂďůĞϭ͘ŵƵ͛Ɛ^ŝŐŶŝĮĐĂŶƚƐƐĂLJZĞƐƵůƚƐʹĞĐĞŵďĞƌWƌŽŐƌĂŵ Ƶ Ő Ɛ Ă ƉƉŵ ƉƉŵ ƉƉŵ ƉƉŵ WƌŽƐƉĞĐƚ ^ĂŵƉůĞ/ ĂƐƚŝŶŐ EŽƌƚŚŝŶŐ &ŝĞƌLJŬ ^^ϬϮϰϴϭ ϳϳϱϲϳϬ ϴϬϬϳϱϭϭ Ϭ͘ϬϮϯ &ŝĞƌLJŬ ^^ϬϮϰϴϮ ϳϳϱϲϵϯ ϴϬϬϳϰϲϲ Ϭ͘Ϭϵϭ ϮϴϬ ϭϬϳ ϯϲ ϭϭϮ ϯϮϮϬ ϳϳϭ ŝ ƉƉŵ Ƶ /Ŷ DŽ Wď^ď dĞ Ŷ й ƉƉŵ ƉƉŵ й ƉƉŵ ƉƉŵ ƉƉŵ ϲϴϱ ϳ͘ϱϯ ϭϳ͘ϭ Ϯ͘ϲ Ϭ͘ϯϴ ϭϮ͘ϴ ϮϮ͘ϯ ϮϬϳ ϭϰϱϬ ϲ͘ϵϭ ϭϵ ϴ͘ϵ Ϭ͘Ϭϰ ϰ͘ϯ Ϭ͘Ϯϵ ϯϰϭ Ϯϭϱ ϰ͘ϱ ϲϯ͘ϯ ϭϰϳϬ &ŝĞƌLJŬ ^^ϬϮϰϴϯ ϳϳϱϵϴϭ ϴϬϬϳϵϭϳ Ϭ͘ϬϮϯ ϯϲϬ Ϯϰϭ ϲϲϯ ϭϴϴϬϬ ϭ͘ϯϰ ϱ͘ϲϳ &ŝĞƌLJŬ ^^ϬϮϰϴϱ ϳϳϱϰϯϰ ϴϬϬϳϰϬϲ Ϭ͘ϬϬϮ ϯϬ ϲϴ͘ϳ ϲϰϲ ϭϮϲ ϳ͘ϱϬ ϲ͘ϳϰ ϭϮ͘ϰ Ϭ͘Ϭϭ ϰ͘ϰ &ŝĞƌLJŬ ^^ϬϮϰϵϭ ϳϳϱϯϲϮ ϴϬϬϳϱϰϴ фϬ͘ϬϬϭ ϭϲ Ϯϲ͘ϲ ϰϰϴ ϯϮ͘ϰ ϱ͘ϲϭ Ϯ͘Ϯϰ ϭϵ͘ϵ Ϭ͘ϬϬ Ϯ͘ϰ ϭ͘ϵϵ Ϯϯϵ &ŝĞƌLJŬ ^^ϬϮϰϵϮ ϳϳϱϱϳϭ ϴϬϬϳϭϰϰ фϬ͘ϬϬϭ ϯϲ ϭϯϴ ϴϳ͘ϴ ϭϱϴ ϲ͘ϱϱ ϭϭ ϰ͘ϴ ϯ͘ϭϮ ϭϵϵ ϯϵϭ ϭϯ͘ϵ Ϭ͘Ϭϭ Ϯ͘ϲ ϭϰϴ ϮϬϬ &ŝĞƌLJŬ ^^ϬϮϰϵϯ ϳϳϱϱϮϰ ϴϬϬϳϮϮϬ Ϭ͘Ϭϭϭ ϭϯϬ ϰϴ͘ϵ ϳ͘Ϯϭ ϴ͘ϵϵ ϭϭ͘ϲ ϭ͘ϯ Ϭ͘ϬϬ ϭ͘ϭ Ϭ͘ϰϭ &ŝĞƌLJŬ ^^ϬϮϰϵϰ ϳϳϯϱϭϭ ϴϬϬϳϯϲϱ Ϭ͘Ϭϭϵ ϰϲϬ ϰϬ͘ϭ ϭϮϱϬϬ ϯϵϱ Ϯϯ͘ϱϭ ϭϯ͘ϵ ϭ͘ϱ Ϭ͘Ϭϭ ϰ͘Ϯ ϭ͘ϲϭ ϵϮ͘ϱ Ϯϵ &ŝĞƌLJŬ ^^ϬϮϰϵϲ ϳϳϱϯϳϳ ϴϬϬϳϭϬϲ Ϭ͘ϭϬϴ ϱϱ ϮϬ͘ϰ ϳϭϯ ϭϴ͘ϲ ϱ͘ϯϭ ϭϮ͘Ϯ ϭϭ͘Ϯ Ϭ͘ϬϬ ϭ͘ϱ Ϯ͘ϳϱ ϯϯϬ &ŝĞƌLJŬ ^^ϬϮϰϵϳ ϳϳϱϰϬϳ ϴϬϬϳϬϱϯ Ϭ͘Ϯϲϴ ϳϯ ϲϴ͘ϯ ϭϮϱϬ Ϯϴ͘Ϯ ϭϯ͘ϱϰ ϭϲ͘ϭ ϳ͘ϳ Ϭ͘Ϭϭ ϲ͘ϭ Ϯ͘ϲϯ Ϯϯϴ ϮϮ͘Ϯϭ ϭϲ͘ϯ ϳ͘ϯ Ϭ͘ϬϬ ϱ͘Ϯ ϭϱ͘Ϯ ϭϬϴ &ŝĞƌLJŬ ^^ϬϮϰϵϴ ϳϳϱϮϵϭ ϴϬϬϳϭϵϳ Ϭ͘Ϭϲϲ ϭϬ ϭϲϰ ϰϯϮ ϭϰϵ &ŝĞƌLJŬ ^^ϬϮϰϵϵ ϳϳϱϱϭϱ ϴϬϬϮϴϱϬ Ϭ͘ϬϮϰ ϴ͘ϴ ϱϵϵ ϲϮϳ ϭϵϳϬ ϭϯ͘ϱϮ &ŝĞƌLJŬ ^^ϬϮϱϬϬ ϳϳϱϱϭϮ ϴϬϬϮϴϱϲ Ϭ͘Ϭϰϯ ϲ͘ϲ ϭϲϰϬ ϭϭϲϬ ϮϴϰϬ ϵ͘Ϭϳ ϱϰ͘ϯ ϭϱ͘ϵ Ϭ͘ϯϳ ϲϲϳ ϵϭ͘Ϯ ϲϱϯ &ŝĞƌLJŬ ^^ϬϮϱϬϮ ϳϳϲϳϮϴ ϴϬϬϮϱϯϮ Ϭ͘ϬϮϵ ϰϰ ϭϭ͘ϯϬ ϴϵ͘Ϯ Ϯϭ͘ϵ Ϭ͘ϭϵ ϭϳ͘ϭ Ϯϯ͘ϲ ϲϮϱ ϯϮ ϭϲϳϬ ϰϮϳ ϳϱ͘ϴ ϭϭϭϬ ϲϳϭ ϯϯ͘ϰ ϯϭ͘ϰ Ϭ͘ϮϮ ϯϵϳ ϵϲ͘ϭ ϵϲϲ &ŝĞƌLJŬ ^^ϬϮϱϬϰ ϳϳϰϲϲϳ ϴϬϬϭϳϱϲ Ϭ͘ϭϯϭ ϱϬϬ ϯ͘ϭϬ ϭϭ͘ϳ ϴ͘ϱ ^ŶĂŬĞŬ ^^Ϭϰϳϭϱ ϳϬϱϱϬϲ ϳϵϮϴϬϵϮ Ϭ͘ϬϬϰ ϯϵϬ ϭϮ͘ϳ ϳϰϬ Ϭ͘ϴϱ Ϭ͘ϬϬ ϲ͘ϲϮ ϭ͘ϱ ϮϮ͘ϰϬ ϰϲϰ ͲϬ͘ϭ Ϯϱϲ ^ŶĂŬĞŬ ^^Ϭϰϳϭϲ ϳϬϱϱϬϴ ϳϵϮϴϬϵϱ Ϭ͘ϬϬϮ ϮϵϬ ϭϮ͘ϭ ϯϬϮ Ϭ͘ϱϭ Ϭ͘Ϭϭ Ϭ͘ϵϳϮ Ϭ͘ϵ ϭϴ͘ϵϬ ϰϭϭ ͲϬ͘ϭ ϴϭ͘ϳ ^ŶĂŬĞŬ ^^Ϭϰϳϭϴ ϳϬϱϲϰϳ ϳϵϮϳϵϵϭ Ϭ͘ϬϮϱ ϮϮϲ Ϭ͘ϰϰ Ϭ͘ϬϬ Ϭ͘Ϯϯϱ ϭ͘Ϯ ϵϭ ϯϵ͘ϭ ϭ͘ϲϮ ϭϲϰ ϭϬ ϰϭϰ ϭ͘Ϯϲ ϯϰ͘ϲ ͲϬ͘ϭ ϲϯ͘ϱ  &ŝĞƌLJƌĞĞŬŽƉƉĞƌWƌŽƐƉĞĐƚ;WDϮϳϲϲϳͿ ZĞĐŽŶŶĂŝƐƐĂŶĐĞ ǁŽƌŬ ƵŶĚĞƌƚĂŬĞŶ ďLJ Dh Ăƚ ƚŚĞ &ŝĞƌLJ ƌĞĞŬ ŽƉƉĞƌ WƌŽƐƉĞĐƚ ĚƵƌŝŶŐ ŵŝĚͲϮϬϮϯ ƌĞƚƵƌŶĞĚ ŶƵŵĞƌŽƵƐ ĞůĞǀĂƚĞĚ ĐŽƉƉĞƌ ĂŶĚ ƉŽůLJŵĞƚĂůůŝĐ ǀĂůƵĞƐ ĨƌŽŵ Ă ƐŚĞĞƚĞĚ ǀĞŝŶ ƐǁĂƌŵ ŶĞĂƌ ƚŚĞ ŶŽƌƚŚĞƌŶ ĞdžƚĞŶƚ ŽĨ ƚŚĞ zĂƚĂŐĂ 'ƌĂŶŝƚŽŝĚ ŽŵƉůĞdž ;ƌĞĨĞƌ ƚŽ Dh͛Ɛ ^y ƌĞůĞĂƐĞ ϱͬϭϬͬϮϬϮϯͿ͘ ƵƌŝŶŐ EŽǀĞŵďĞƌͲĞĐĞŵďĞƌϮϬϮϯDhƵŶĚĞƌƚŽŽŬĂĚĚŝƟŽŶĂůƐĂŵƉůŝŶŐƚŽďĞƩĞƌĚĞƚĞƌŵŝŶĞƚŚĞƉŽƚĞŶƟĂůŽĨ ƚŚĞ &ŝĞƌLJ ƌĞĞŬ ŽƉƉĞƌ WƌŽƐƉĞĐƚ ĂŶĚ ƚŚĞ zĂƚĂŐĂ 'ƌĂŶŝƚŽŝĚ ŽŵƉůĞdž͘ tŽƌŬ ŝŶǀŽůǀĞĚ ĨƵƌƚŚĞƌ ďƌŽĂĚͲ ƐƉĂĐĞĚ ƚĞƌŵŝƚĞ ŵŽƵŶĚ ƐĂŵƉůĞ ƚƌĂǀĞƌƐĞƐ ĂŶĚ ƚŚĞ ĐŽůůĞĐƟŽŶ ŽĨ ŵŝŶĞƌĂůŝƐĞĚ ŽƵƚĐƌŽƉ ƐĂŵƉůĞƐ͘  Ϯ Ŷ/ŶƚĞƌŝŵZĞƉŽƌƚʹdŚĞ&ŝĞƌLJƌĞĞŬŽƉƉĞƌWƌŽƐƉĞĐƚ͕'ĞŽƌŐĞƚŽǁŶ/ŶůŝĞƌ͕EŽƌƚŚYƵĞĞŶƐůĂŶĚͲEŝŐĞůDĂƵŶĚD^Đ͕/͕D͕&ƵƐ/DD͕ &/'͕&^'͕&'^͕DD^͕ŽŶƐƵůƚĂŶƚĐŽŶŽŵŝĐ'ĞŽůŽŐŝƐƚ͕ϯϭ:ĂŶƵĂƌLJϮϬϮϰ    DĂĐƌŽƐĐŽƉŝĐƉĞƚƌŽůŽŐŝĐĂůǁŽƌŬǁĂƐĐŽŵƉůĞƚĞĚŽŶƚŚĞŽƵƚĐƌŽƉƐĂŵƉůĞƐƚŽďĞƩĞƌŝŶƚĞƌƉƌĞƚĂƐƐĂLJƌĞƐƵůƚƐ ĂŶĚĚĞƚĞƌŵŝŶĞƚŚĞƐƚLJůĞŽĨŵŝŶĞƌĂůŝƐĂƟŽŶ͘ dŚĞǁŽƌŬŚĂƐĐŽŶĮƌŵĞĚƚŚĞƉŽƚĞŶƟĂůŽĨƚŚĞ&ŝĞƌLJƌĞĞŬŽƉƉĞƌWƌŽƐƉĞĐƚĂŶĚĚĞĮŶĞĚĨƵƌƚŚĞƌŚŝŐŚͲ ƉƌŝŽƌŝƚLJƚĂƌŐĞƚƐǁŝƚŚŝŶƚŚĞzĂƚĂŐĂ'ƌĂŶŝƚŽŝĚŽŵƉůĞdžǁŝƚŚƉŽůLJŵĞƚĂůůŝĐƌŽĐŬĐŚŝƉǀĂůƵĞƐƌĞƉŽƌƟŶŐƵƉƚŽ Ϭ͘ϮϳƉƉŵƵ͕ϰϲϬƉƉŵŐ͕ϭ͘ϵйŝ͕Ϯϯ͘ϱйƵ͕ϰϯƉƉŵ/Ŷ͕Ϯ͘ϳйWď͕ϯϰϭƉƉŵ^ďĂƚ&ŝĞƌLJƌĞĞŬWƌŽƐƉĞĐƚ ĂŶĚ Ϭ͘ϭϯƉƉŵ Ƶ͕ ϰϰƉƉŵ Ő͕ Ϭ͘Ϯϴй ŝ͕ ϭϯ͘ϱй Ƶ͕ ϴϵƉƉŵ /Ŷ͕ ϭ͘ϲϮй Wď ĂŶĚ ϲϲϳƉƉŵ ^ď Ăƚ zĂƚĂŐĂ ^ŽƵƚŚ͘  &ŝŐƵƌĞϭ͘&ŝĞƌLJƌĞĞŬŽƉƉĞƌͬzĂƚĂŐĂ'ƌĂŶŽĚŝŽƌŝƚĞƐƵŵŵĂƌŝnjŝŶŐƌŽĐŬ;ďƌŽǁŶĚŝĂŵŽŶĚƐͿĂŶĚƚĞƌŵŝƚĞ ŵŽƵŶĚƐĂŵƉůĞƌĞƐƵůƚƐ;ďůĂĐŬĐƌŽƐƐĞƐͿ͘  dŚĞ ĂƌĞĂ ŽĨ ƚŚĞ ŚŝŐŚͲŐƌĂĚĞ ƋƵĂƌƚnjнĐŽƉƉĞƌ ŽdžŝĚĞ ǀĞŝŶ ƐǁĂƌŵ Ăƚ ƚŚĞ &ŝĞƌLJ ƌĞĞŬ ŽƉƉĞƌ WƌŽƐƉĞĐƚ ŝƐ ƐƚƌŽŶŐůLJůŽĐĂůŝƐĞĚǁŝƚŚŝŶƚŚĞzĂƚĂŐĂ'ƌĂŶŝƚŽŝĚŽŵƉůĞdžĂŶĚĐŽǀĞƌƐĂŶĂƌĞĂŽĨϭ͘ϲŬŵŝŶŐĞŽůŽŐŝĐƐƚƌŝŬĞ ĂŶĚĂǁŝĚƚŚŽĨϰϬϬŵ͘dŚĞĐŽƉƉĞƌŵŝŶĞƌĂůŝƐĂƟŽŶŝƐŶŽǁĂůŵŽƐƚĞdžĐůƵƐŝǀĞůLJƐƵƉĞƌŐĞŶĞĂůƚĞƌĞĚƚŽƚŚĞ ĐŽƉƉĞƌŽdžŝĚĞĂƐƐĞŵďůĂŐĞĐŚƌLJƐŽĐŽůůĂ͕ŵĂůĂĐŚŝƚĞ͕ƚĞŶŽƌŝƚĞ͕ĐƵƉƌŝƚĞ͕ĂŶĚƐŽŽƚLJĐŚĂůĐŽĐŝƚĞ͘DŽƐƚƐĂŵƉůĞƐ ĨƌŽŵƚŚĞ&ŝĞƌLJƌĞĞŬŽƉƉĞƌWƌŽƐƉĞĐƚŚŽƐƚŐƌĂĚĞƐшϭйƚŽĂŚŝŐŚŽĨϮϯ͘ϱйƵǁŝƚŚďŝƐŵƵƚŚŐƌĂĚĞƐ    ďĞƚǁĞĞŶϬ͘ϮйĂŶĚϭ͘ϴϵйŝ͘ĚĚŝƟŽŶĂůůLJ͕ƚŚĞƐĂŵƉůĞƐŚŽƐƚƐŝŐŶŝĮĐĂŶƚůĞĂĚ͕njŝŶĐĂŶĚƐŝůǀĞƌŐƌĂĚĞƐǁŝƚŚ ƐƚƌŽŶŐůLJĂƐƐŽĐŝĂƚĞĚĂŶŽŵĂůŽƵƐĂƌƐĞŶŝĐ͕ĂŶƟŶŽŵLJĂŶĚƚĞůůƵƌŝƵŵ͘ 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ŵƵůůŽĐŬ͘dŚĞŵŝŶĞƌĂůŝƐĂƟŽŶĐŽŶƐŝƐƚƐŽĨĂŶƵŵďĞƌŽĨƚŚŝŶ;ϭͲϯĐŵƚŚŝĐŬͿŐĂůĞŶĂǀĞŝŶůĞƚƐŽĐĐƵƌƌŝŶŐŽǀĞƌ ĂǁŝĚƚŚŽĨϯͲϰŵ͘dŚĞŐĂůĞŶĂŝƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚŵŝŶŽƌŵĂůĂĐŚŝƚĞĂŶĚŽŶƚŚĞƐƵƌĨĂĐĞƐŚŽǁƐŽdžŝĚĂƟŽŶƚŽ ĐĞƌƵƐƐŝƚĞĂŶĚƉLJƌŽŵŽƌƉŚŝƚĞ͘dŚĞƌŚLJŽůŝƚĞŚŽƐƚƌŽĐŬĨŽƌϱͲϭϬŵŽŶĞŝƚŚĞƌƐŝĚĞŽĨƚŚĞŵŝŶĞƌĂůǀĞŝŶƐƐŚŽǁƐ ŝŶƚĞŶƐĞŐƌĞĞŶ;ƉƌŽďĂďůLJƐĞƌŝĐŝƟĐͲĐŚůŽƌŝƟĐͿĂůƚĞƌĂƟŽŶ͘ ^ĂŵƉůŝŶŐĚƵƌŝŶŐĞĐĞŵďĞƌϮϬϮϯĐŽŵƉƌŝƐĞĚƚĞƌŵŝƚĞŵŽƵŶĚƚƌĂǀĞƌƐĞƐĂŶĚŽƵƚĐƌŽƉƐĂŵƉůŝŶŐ͕ĚĞƐŝŐŶĞĚ ƚŽĚĞƚĞƌŵŝŶĞƚŚĞĞdžƚĞŶƚŽĨŵŝŶĞƌĂůŝƐĂƟŽŶ͘ƚĞƌŵŝƚĞŵŽƵŶĚƚƌĂǀĞƌƐĞĐŽŵƉůĞƚĞĚŝŵŵĞĚŝĂƚĞůLJƐŽƵƚŚŽĨ ǁŽƌŬŝŶŐƐĞdžŚŝďŝƚƐĞůĞǀĂƚĞĚŐ͕ŝ͕/Ŷ͕Wď͕důĂŶĚŶĨƌŽŵĂƐƐĂLJƌĞƐƵůƚƐ͕ƉŽƐƐŝďůLJĂƐƐŽĐŝĂƚĞĚǁŝƚŚĚŝƐĐƌĞƚĞ ŝŶƚƌƵƐŝǀĞ͘ dǁŽƐĂŵƉůĞƐŽĨŵƵůůŽĐŬĨƌŽŵƚŚĞǁĞƐƚĞƌŶĞdžƚĞŶƚŽĨƚŚĞǁŽƌŬŝŶŐƐƌĞƚƵƌŶĞĚƚŽϯϵϬƉƉŵŐ͕ϮϮ͘ϰйWď ĂŶĚϰϲϰƉƉŵ^ď͘dǁŽƐĂŵƉůĞƐǁĞƌĞĐŽůůĞĐƚĞĚĨƌŽŵƋƵĂƌƚnjǀĞŝŶŽƵƚĐƌŽƉŽĨŽŶĞŵĞƚƌĞǁŝĚƚŚ͕ůŽĐĂƚĞĚ ϳϬŵƐŽƵƚŚĂŶĚƉĂƌĂůůĞůƚŽƚŚĞǁŽƌŬŝŶŐƐ͕ƌĞƚƵƌŶŝŶŐƵƉƚŽϬ͘ϮϬƉƉŵƵ͕ϴϱϬƉƉŵƐĂŶĚŽŶůLJϮƉƉŵŐ ĂŶĚϵϱϴƉƉŵWď͘dŚĞŝŶĐƌĞĂƐĞĚŐŽůĚĂŶĚůŽǁĞƌďĂƐĞŵĞƚĂůǀĂůƵĞƐŵĂLJŝŶĚŝĐĂƚĞƚŚĞƐŽƵƚŚĞƌŶǀĞŝŶŝƐ ƌĞůĂƚĞĚƚŽĂƐĞƉĂƌĂƚĞŵŝŶĞƌĂůŝƐŝŶŐĞǀĞŶƚ͕ŽƌnjŽŶĂƟŽŶŽĨƚŚĞ^ŶĂŬĞƌĞĞŬǀĞŝŶƐ͘ƐŝŶŐůĞƐĂŵƉůĞĨƌŽŵ ĂŶĂƐƚŽŵŽƐŝŶŐƋƵĂƌƚnjǀĞŝŶƐůŽĐĂƚĞĚϭϱϬŵƐŽƵƚŚĞĂƐƚĨƌŽŵƚŚĞǁŽƌŬŝŶŐƐƌĞƚƵƌŶĞĚϵϭƉƉŵŐ͕ϭ͘ϮϲйWď ĂŶĚϯϰ͘ϲƉƉŵ^ď͘ &ƵƌƚŚĞƌ ǁŽƌŬ ŝƐ ƌĞƋƵŝƌĞĚ Ăƚ ^ŶĂŬĞ ƌĞĞŬ ƚŽ ĚĞƚĞƌŵŝŶĞ ŵŝŶĞƌĂůŝƐĂƟŽŶ ƐƚLJůĞ ĂŶĚ ƚŚĞ ĞdžƚĞŶƚ ŽĨ ŵŝŶĞƌĂůŝƐĂƟŽŶ͕ ƉĂƌƟĐƵůĂƌůLJ ŝŶ ƚŚĞ ĞĂƐƚĞƌŶ ƉŽƌƟŽŶ ŽĨ ƚŚĞ ƉƌŽƐƉĞĐƚ ǁŚĞƌĞ ĐƌĞĞŬ ĂůůƵǀŝƵŵ ŽďƐĐƵƌĞƐ ŽƵƚĐƌŽƉƉŝŶŐŐĞŽůŽŐLJ͘ ĂŵƉͲŽǀĞŶƌĞĞŬWƌŽƐƉĞĐƚ;WDϮϳϲϲϳͿ ďƌŝĞĨĮĞůĚŝŶǀĞƐƟŐĂƟŽŶƚŽƚŚĞĂŵƉͲŽǀĞŶƌĞĞŬƉƌŽƐƉĞĐƚ͕ǁŝƚŚŚŝƐƚŽƌŝĐƐƵƌĨĂĐĞƐĂŵƉůĞĂƐƐĂLJƐŐƌĞĂƚĞƌ ƚŚĂŶ ϮϬϬ Őͬƚ Ƶ ƌĞĐŽƌĚĞĚ ;ƌĞĨĞƌ ƚŽ ^y ƌĞůĞĂƐĞ ϱͬϭϬͬϮϬϮϯͿ͕ ǁĂƐ ĐƵƌƚĂŝůĞĚ ĚƵĞ ƚŽ ƚŚƵŶĚĞƌƐƚŽƌŵ ĂƐƐŽĐŝĂƚĞĚƌĂŝŶ͕ĐƵƫŶŐŽīĂĐĐĞƐƐƚŽƚŚĞƉƌŽƐƉĞĐƚ͘dŚĞƉĂƌƟĂůĚĂLJŽĨƌĞĐŽŶŶĂŝƐƐĂŶĐĞƐƉĞŶƚŝŶƚŚĞĂŵƉͲ ŽǀĞŶ ƉƌŽƐƉĞĐƚ ƉƌŽĚƵĐĞĚ Ă ŐŽůĚ ƉĂŶͲĐŽŶĐĞŶƚƌĂƚĞ ĨƌŽŵ Ă ƐŚĂůůŽǁ ĚƌĂŝŶͲǁĂLJ ŽĨ ƵƉ ƚŽ ϰϬ ǀŝƐŝďůĞ ŐŽůĚ ƉŽŝŶƚƐŝŶĂƐŝŶŐůĞƉĂŶĂŶĚĂƐŵĂůůϲͲŐƌĂŵĐƌLJƐƚĂůůŝŶĞŐŽůĚŶƵŐŐĞƚĚŝƐĐŽǀĞƌĞĚŶĞĂƌďLJ͘dŚĞĐƌLJƐƚĂůůŝŶŝƚLJŽĨ ƚŚĞŶƵŐŐĞƚƐƵŐŐĞƐƚƐƚŚĂƚŝƚŝƐƉƌŽdžŝŵĂůƚŽŝƚƐƐŽƵƌĐĞ͘    *ROGSDQ QXJJHW  &ŝŐƵƌĞϱ͘ĞĐĞŵďĞƌϮϬϮϯƉƌŽƐƉĞĐƚƐĂŵƉůĞůŽĐĂƟŽŶƐ͘    dĂďůĞϮ͘ĞĐĞŵďĞƌϮϬϮϯŵƵZŽĐŬŚŝƉZĞƐƵůƚƐ        &ŝŐƵƌĞϲ͘^ŝŶŐůĞƉĂŶͲĐŽŶĐĞŶƚƌĂƚĞĐŽŶƚĂŝŶŝŶŐ 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ĐŽǀĞƌŝŶŐϴϱϬŬŵϮŝŶƚŚĞ'ĞŽƌŐĞƚŽǁŶŵŝŶŝŶŐĚŝƐƚƌŝĐƚ͕YƵĞĞŶƐůĂŶĚ͕ƵŶĚĞƌĂ,ĞĂĚƐŽĨŐƌĞĞŵĞŶƚ ĂŶĚ:ŽŝŶƚsĞŶƚƵƌĞŐƌĞĞŵĞŶƚǁŝƚŚZƵŐďLJZĞƐŽƵƌĐĞƐ>ƚĚ;d^ys͗Zh'Ϳ͘    R dŚĞĚŝƐƚƌŝĐƚŚĂƐĂƐƵďƐƚĂŶƚŝĂůŵŝŶĞƌĂůĞŶĚŽǁŵĞŶƚǁŝƚŚŵŽƌĞƚŚĂŶϭ͕ϬϬϬŵŝŶĞƐ͕ƉƌŽƐƉĞĐƚƐĂŶĚ ŝĚĞŶƚŝĨŝĞĚŵŝŶĞƌĂůŽĐĐƵƌƌĞŶĐĞƐ͘ϯ R ^ŝŐŶŝĨŝĐĂŶƚŚŝƐƚŽƌŝĐĂůŐŽůĚƉƌŽĚƵĐƚŝŽŶĨƌŽŵƚŚĞĚŝƐƚƌŝĐƚ͘ 2 ŽnjĞŶƐŽĨŬŶŽǁŶŚŝŐŚůLJƐŝŐŶŝĨŝĐĂŶƚŵŝŶĞƌĂůŽĐĐƵƌƌĞŶĐĞƐǁŝƚŚŝŶƚŚĞƚĞŶĞŵĞŶƚƐĂƌĞƵŶĚĞƌĞdžƉůŽƌĞĚ ĂŶĚƵŶĞdžƉůŽŝƚĞĚ͕ƚŚĞƌĞŚĂǀŝŶŐďĞĞŶůŝƚƚůĞƐLJƐƚĞŵĂƚŝĐŵŽĚĞƌŶĞdžƉůŽƌĂƚŝŽŶ͘ R >ŝƚŚŝƵŵƉŽƚĞŶƚŝĂůŚĂƐďĞĞŶŚŝŐŚůŝŐŚƚĞĚďLJƚŚĞYƵĞĞŶƐůĂŶĚĞƉĂƌƚŵĞŶƚŽĨEĂƚƵƌĂůZĞƐŽƵƌĐĞƐĂŶĚ DŝŶĞƐ͘ϰ R /ĚĞŶƚŝĨŝĞĚďLJ'ĞŽƐĐŝĞŶĐĞƵƐƚƌĂůŝĂϯĂƐĂƉƌŽƐƉĞĐƚŝǀĞŚŽƐƚƌĞŐŝŽŶĨŽƌĐƌŝƚŝĐĂůŵŝŶĞƌĂůƐĂŶĚ ƐƉĞĐŝĨŝĐŵŝŶĞƌĂůƐƌĞƋƵŝƌĞĚĨŽƌĞůĞĐƚƌŝĐǀĞŚŝĐůĞƐĂŶĚĞůĞĐƚƌŝĨŝĐĂƚŝŽŶŝŶĨƌĂƐƚƌƵĐƚƵƌĞ͘ R dŚĞ WD͛Ɛ ĂƌĞ ŚŝŐŚůLJ ƉƌŽƐƉĞĐƚŝǀĞ ĨŽƌ ƐĐĂůĞ ƉƌĞĐŝŽƵƐ͕ ďĂƚƚĞƌLJ ĂŶĚ ďĂƐĞ ŵĞƚĂůƐ ŽĐĐƵƌƌĞŶĐĞƐ ŝŶĐůƵĚŝŶŐ ŐŽůĚ͕ ůŝƚŚŝƵŵ͕ ƐŝůǀĞƌ͕ ůĞĂĚ͕ njŝŶĐ͕ ĐŽƉƉĞƌ͕ ƚŝŶ͕ ƚĂŶƚĂůƵŵ͕ ŶŝŽďŝƵŵ͕ ƵƌĂŶŝƵŵ͕ĨůƵŽƌŝŶĞĂŶĚŵŽůLJďĚĞŶŝƚĞ͘ R EƵŵĞƌŽƵƐ ƐŝůǀĞƌͲůĞĂĚ ƚĂƌŐĞƚƐ ŝĚĞŶƚŝĨŝĞĚ Ăƚ ^ŶĂŬĞ ƌĞĞŬ ĂŶĚ Ăƚ ƚŚĞ DƵŶŝƚŝŽŶƐ ƌĞĞŬ 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ŚĞƌĞŝŶ ŶŽƚ ƉƵƌƉŽƌƟŶŐ ƚŽ ďĞ ŽĨ ŚŝƐƚŽƌŝĐĂů ĨĂĐƚ͘ ŶLJ ƐƚĂƚĞŵĞŶƚƐ ĐŽŶĐĞƌŶŝŶŐ ŵŝŶŝŶŐ ƌĞƐĞƌǀĞƐ͕ ƌĞƐŽƵƌĐĞƐ ĂŶĚ ĞdžƉůŽƌĂƟŽŶ ƌĞƐƵůƚƐ ĂƌĞ ĨŽƌǁĂƌĚ ůŽŽŬŝŶŐ ŝŶ ƚŚĂƚ ƚŚĞLJ ŝŶǀŽůǀĞĞƐƟŵĂƚĞƐ ďĂƐĞĚ ŽŶ ĂƐƐƵŵƉƟŽŶƐ͘ &ŽƌǁĂƌĚ ůŽŽŬŝŶŐ ƐƚĂƚĞŵĞŶƚƐ ĂƌĞ ďĂƐĞĚŽŶŵĂŶĂŐĞŵĞŶƚ͛ƐďĞůŝĞĨƐ͕ŽƉŝŶŝŽŶƐĂŶĚĞƐƟŵĂƚĞƐĂƐ ŽĨƚŚĞƌĞƐƉĞĐƟǀĞĚĂƚĞƐƚŚĞLJĂƌĞŵĂĚĞ͘dŚĞŽŵƉĂŶLJĚŽĞƐ ŶŽƚ ĂƐƐƵŵĞ ĂŶLJ ŽďůŝŐĂƟŽŶ ƚŽ ƵƉĚĂƚĞ ĨŽƌǁĂƌĚ ůŽŽŬŝŶŐ ƐƚĂƚĞŵĞŶƚƐ ĞǀĞŶ ǁŚĞƌĞ ďĞůŝĞĨƐ͕ ŽƉŝŶŝŽŶƐ ĂŶĚ ĞƐƟŵĂƚĞƐ ĐŚĂŶŐĞŽƌƐŚŽƵůĚĚŽƐŽŐŝǀĞŶĐŚĂŶŐĞĚĐŝƌĐƵŵƐƚĂŶĐĞƐĂŶĚ ĚĞǀĞůŽƉŵĞŶƚƐ͘ Et/E&KZDd/KEKZd DhĐŽŶĮƌŵƐƚŚĂƚŝƚŝƐŶŽƚĂǁĂƌĞŽĨĂŶLJŶĞǁŝŶĨŽƌŵĂƟŽŶ ŽƌĚĂƚĂƚŚĂƚŵĂƚĞƌŝĂůůLJĂīĞĐƚƐƚŚĞŝŶĨŽƌŵĂƟŽŶŝŶĐůƵĚĞĚŝŶ ƚŚĞ ŽƌŝŐŝŶĂů ŵĂƌŬĞƚ ĂŶŶŽƵŶĐĞŵĞŶƚƐ ĂŶĚ͕ ŝŶ ƚŚĞ ĐĂƐĞ ŽĨ ĞƐƟŵĂƚĞƐ ŽĨ DŝŶĞƌĂů ZĞƐŽƵƌĐĞƐ͕ ǁŚŝĐŚ Ăůů ŵĂƚĞƌŝĂů ĂƐƐƵŵƉƟŽŶƐ ĂŶĚ ƚĞĐŚŶŝĐĂů ƉĂƌĂŵĞƚĞƌƐ ƵŶĚĞƌƉŝŶŶŝŶŐ ƚŚĞ ĞƐƟŵĂƚĞƐŝŶƚŚĞƌĞůĞǀĂŶƚŵĂƌŬĞƚĂŶŶŽƵŶĐĞŵĞŶƚĐŽŶƟŶƵĞ ƚŽ ĂƉƉůLJ ĂŶĚ ŚĂǀĞ ŶŽƚ ŵĂƚĞƌŝĂůůLJ ĐŚĂŶŐĞĚ͘ dŚĞ ŽŵƉĂŶLJ ĐŽŶĮƌŵƐƚŚĂƚƚŚĞĨŽƌŵĂŶĚĐŽŶƚĞdžƚŝŶǁŚŝĐŚƚŚĞŽŵƉĞƚĞŶƚ WĞƌƐŽŶ͛Ɛ ĮŶĚŝŶŐƐ ĂƌĞ ƉƌĞƐĞŶƚĞĚ ŚĂǀĞ ŶŽƚ ŵĂƚĞƌŝĂůůLJ ĐŚĂŶŐĞĚĨƌŽŵƚŚĞŽƌŝŐŝŶĂůŵĂƌŬĞƚĂŶŶŽƵŶĐĞŵĞŶƚ͘      WWE/yϭ ZĞƐŽƵƌĐĞƐƟŵĂƚĞZĞƉŽƌƚĨŽƌƚŚĞĂĚũĂWƌŽũĞĐƚʹ>ZĞƐŽƵƌĐĞƐWƚLJ>ƚĚ   Resources & Reserves to The Mining Industry Resource Estimate Report for the Badja Project for EMU NL Project Code: 8043 The contents of this report are confidential and proprietary. This report may not be released to any third party without the written consent of both LBC Resources Pty Ltd. and EMU NL.1 Date: 30 January 2024 This document has been prepared for the exclusive use of EMU NL(“Client”) on the basis of instructions, information and data supplied by them. No warranty or guarantee, whether express or implied, is made by LBC Resources with respect to the completeness or accuracy of any aspect of this document and no party, other than the Client, is authorised to or should place any reliance whatsoever on the whole or any part or parts of the document. LBC Resources does not undertake or accept any responsibility or liability in any way whatsoever to any person or entity in respect of the whole or any part or parts of this document, or any errors in or omissions from it, whether arising from negligence or any other basis in law whatsoever 1 Badja Project – Resource Estimate Report – 30 January 2024 Resources & Reserves to The Mining Industry Resource Estimate Report for the Badja Project Author(s): Steve Le Brun Principal Resource Geologist Date: 30 January 2024 Project Number: 8043 Version / Status: v.01 / Draft Copies: EMU NL (2) LBC Resources Pty Ltd. (1) (MSc. FAusIMM, FAIG) Copyright The copyright in all documents, drawings, designs, reports, computer software, calculations and other documentation prepared by LBC remains vested in LBC, but, conditional on all due fees and reimbursements of LBC expenses having been paid, the Client has a licence to use such documentation for any purpose related to the Project. The Client is not entitled to use or rely on this document and its contents at any time if any fees or reimbursements of expenses due to LBC by its Client are outstanding. In those circumstances, LBC may require the return of all copies of this document. LBC accepts no liability for any loss or damage arising as a result of any person other than the named Client acting in reliance on any information, opinion or advice contained in this document. Reliance on Information Provided by the Client LBC accepts no liability and gives no warranty as to the accuracy or completeness of information provided to it by or on behalf of the client or its representatives and takes no account of matters that existed when the document was transmitted to the client, but which were not known to LBC until subsequently. Recommendations LBC accepts no liability for any matters arising if any recommendations contained in this document are not carried out, or are partially carried out, without further advice being obtained from LBC. JORC Requirements If a Client wishes to publish this report or issue a statement on the mineral resource estimate contained herein, it must first obtain the Competent Person’s written consent as to the form and context in which the public disclosure is to appear. The published disclosure must include a statement that the Competent Person’s written consent has been obtained. If a Client is re-issuing information previously issued with the written consent of the Competent Person, it must state the original report name, the name(s) of the Competent Person responsible for the original report, and state the date and reference location of the original source public report for public access. Independence Neither LBC, nor the author(s) of this report, has or has had previously, any material interest in the Company or the mineral properties in which the Company has an interest. LBC’s relationship with the Company is solely one of professional association between client and independent consultant. LBC is an independent mining and geological consultancy. Fees are being charged to the Company at a commercial rate for the preparation of this report, the payment of which is not contingent upon the conclusions of the report. No member or employee of LBC is, or is intended to be, a director, officer or other direct employee of the Company. No member or employee of LBC has, or has had, any shareholding in the Company. There is no formal agreement between LBC and the Company as to the Company providing further work for LBC. Badja Project Resource Estimate Report – 30 January 2024 Page: 1 Resources & Reserves to The Mining Industry Resource Estimate Report for the Badja Project 1 EXECUTIVE SUMMARY LBC Resources Ltd. (LBC) has been requested by EMU NL (GP) to develop a geological model and resource estimate for the Badja Project which includes the Gnow’s Nest (GN), Monte Cristo (MC), Water Tank (WT) and Flying Emu (FE) deposits. LBC was not requested to undertake a detailed assessment of all the information available; reliance upon certain aspects was deferred to the results from previous studies. A brief review by LBC concurs with the earlier conclusions that there do not appear to be any significant issues with the protocols used during the Badja Project exploration programmes. Figure 1 Badja Project Project Location - Regional. The Badja Project lies approximately 200 km east of Geraldton in Western Australia. The regional Yalgoo Greenstone Belt strikes north-northwest, with steep dips to the west. For the Gnow’s Nest deposit, the mineralisation is shear hosted. For the other three deposits, the mineralisation is associated with (but not in) banded iron formation (BIF), which could have provided a competency contrast between itself and ultramafic/mafic wall rocks for the ore deposition. Badja Project Resource Estimate Report – 30 January 2024 Page: 2 Resources & Reserves to The Mining Industry Resource Estimate Report for the Badja Project Figure 2 Badja Project Location, with tenements, aeromagnetics (TMI/RTP)Emu’s soils sampling and prospect locations. The wireframing work includes topography, weathering surfaces, BIF and mineralisation interpretations. Weathering surfaces were treated as soft boundaries during mineralisation wireframing. The volumes of the mineralisation domains were used for a global gold inventory calculation, with the average gold grade and density values applied on domain basis. Badja Project Resource Estimate Report – 30 January 2024 Page: 3 Resources & Reserves to The Mining Industry Resource Estimate Report for the Badja Project The work is based on 609 drillholes, including RC, RAB and AC. The Gnow’s Nest deposit has been drilled out on 20-21m spaced sections with some infill drilling down to 10m. Both between-section and on-section drill spacing at Monte Cristo is 20-21m. The between-section distance at both Water Tank Hill and Flying Emu is 40m, with only 1-3 drillholes per section. LBC selected 0.5 g/t as the nominal cut-off for interpretation. 1.7 t/m3, 2.2 t/m3and 2.7 t/m3 are the specific gravity values suggested by EMU for oxide, transitional and fresh materials, respectively. SO endorses these values. The total gold inventory is estimated to be 20,850 ounces, including 19,814 ounces of Inferred Mineral Resource and 1,033 ounces of unclassified resources based on JORC 2012 guidelines. With the availability of supporting QC work, which needs to be conducted by EMU as a future programme, the current inventory could be upgraded to a partially Indicated classification with an appropri