hdi capital area september 2014 meeting slides

182
9/23/14 ©2013 HDI. All rights reserved. Welcome! Updates from HDI Capital Area and HDI Corporate September 17, 2014

Upload: hdicapitalarea

Post on 26-Jun-2015

104 views

Category:

Technology


0 download

DESCRIPTION

New employees join your organization, only to arrive with no workstation, no user profile, and no access to critical systems. You’ve built an onboarding process, but steps are missed occasionally and it takes weeks before new employees are fully able to do the job they were hired for. Or perhaps you’ve just had a key employee leave the company to work for a competitor. Are you certain that the individual’s access to business-critical systems has been deactivated? Companies like yours face these problems daily while trying to manually manage the acquisition and termination of employees. In many cases, companies don’t even realize they have left access to business systems open to exiting employees, exposing both the organization and its customers to risk.

TRANSCRIPT

Page 1: Hdi Capital Area September 2014 Meeting Slides

9/23/14'

©2013'HDI.'All'rights'reserved.'

Welcome!(Updates(from(HDI(Capital(Area(

and(HDI(Corporate((September'17,'2014'

'

Page 2: Hdi Capital Area September 2014 Meeting Slides

9/23/14'

©2013'HDI.'All'rights'reserved.'©2014'HDI.'All'rights'reserved.'

What’s(Hot(at(HDI(•  FUSION(14(–(October(19C22,(2014(

Happening'this'year'at'the'Gaylord'NaEonal'Resort'&'ConvenEon'Center'in'Washington,'D.C.,'FUSION'14'is'

your'firstOclass'pass'to'service'management!'

–  PreOconference'workshops'

–  Nine'tailored'learning'tracks'

–  More'than'eighty'sessions'

–  Five'extraordinary'keynotes'

–  Nonstop'networking'opportuniEes'

Learn'More:'www.ServiceManagementFUSION.com'

'

•  New(ITIL(InteracJve(Resources(FREE(for(Members(ITIL'v3®'and'ITIL'FoundaEon®(are'new'interacEve'resources'for'HDI'members'to'reference'and'learn'about'the'

framework'that'aligns'IT'services'to'business'needs.'These'resources'are'free'for'HDI'ResourceOlevel'members'

and'above.'Learn'More:'www.ThinkHDI.com/levels''

'

•  HDI(Virtual(Classroom(Course(Offerings(Expand(HDI'Desktop'Support'Manager'and'Structured'Problem'Solving'for'Support'Professionals'courses'now'

available'via'the'Virtual'Classroom'–'a'training'environment'that'seamlessly'combines'the'accessibility'of'

online'learning'with'the'structure'of'scheduled,'instructorOled'courses.'Learn'more:'

www.ThinkHDI.com/Virtual''

'

•  Submit(Yourself(or(a(Colleague(for(an(HDI(Award!(Each'year,'HDI'awards'the'highest'honors'in'the'technical'service'and'support'profession.'HDI'awards'program'

rewards'individuals,'teams'and'organizaEons'that'have'gone'above'and'beyond'in'the'last'year.'Deadline'is'

October'31,'so'don’t'miss'your'chance!'Learn'more:'www.ThinkHDI.com/Awards''

Page 3: Hdi Capital Area September 2014 Meeting Slides

9/23/14'

©2013'HDI.'All'rights'reserved.'©2014'HDI.'All'rights'reserved.'

September'Webcast:'“HDI'Buyer's'Guide'Live:'Expanding'the'Influence'of''

Service'and'Support'Management”'

New(Content(to(SHARE!((

New'Blog:''"Misunderstood'Metrics,“'by'Roy'Atkinson'

The'September/October'issue'of'SupportWorld'will'be'available'soon'in'the'HDI'Reading'Room'app'and'online!'Theme:/Customer/Experience/

#HDISTAT'Today:'#ServiceManagement'soluEons'are'used'by'68%'of'#techsupport'

#ITSM'(full'report'coming'soon!)'

New'HDI'Research'Brief:'

Improving'Efficiency'and'Customer'Service'in'Higher'EducaEon'

#HDISTAT'Today:'30%'of'support'centers'are'resolving'Eckets'previously'handled'

by'escalated'levels.'#shinlen'#techsupport'

Page 4: Hdi Capital Area September 2014 Meeting Slides

9/23/14'

©2013'HDI.'All'rights'reserved.'©2014'HDI.'All'rights'reserved.'

Not(a(Member?(Join(Today!(

Become(a(Professional(member(for(just($495!''

Get'more'benefits'to'ensure'your'professional'growth'today.''

Enjoy(benefits(like:(•  Aoend'local'chapter'and'vChapter'meeEngs'

•  Access'to'HDI'PracEces'and'Salary'Reports'

•  Discounts'on'HDI'Conferences,'Events'and'Training'

•  Apply'for'HDI'awards'

•  And'much'more!'

'

Learn'more'at'www.ThinkHDI.com/Join'or'by'calling'800.248.5667(

'

Page 5: Hdi Capital Area September 2014 Meeting Slides

9/23/14'

©2013'HDI.'All'rights'reserved.'©2014'HDI.'All'rights'reserved.'

Call(for(Help(Desk(Analyst(&(Desktop(Support(Technician(of(

the(Year(Nominees((DON’T(MISS(THIS(OPPORTUNITY(to(recognize(your(key(analysts(and(technicians.'The'only'investment'

you'make'is'Eme'to'send'the'informaEon'below'and'complete'the'applicaEon.'Your'return'is'truly'a'

heartwarming'event'that'has'become'a'yearend'celebraEon'for'our'teams.'I'encourage'members'to'

nominate'your'outstanding'Analysts'and'Technicians'by'emailing'the'following'informaEon'to'Sandy'

Seroskie,'by'Friday,(October(31,(2014'at'[email protected]:'

'

•  Help'Desk'Analyst'or'Desktop'Support'Technician's'Name'

•  Company'

•  A'paragraph'describing'the'individuals'achievements'(why'you'are'nominaEng'them)'

•  Manager's'name'and'contact'informaEon'

'

**The'criteria'and'nominaEon'form'is'sent'to'the'Manager'to'complete.'We(encourage(you(to(send(the(informaJon(above(early,(so(you(have(more(Jme(to(complete(the(applicaJon.**(

All(nominees(and(managers(as(our(honored(guests,(at(our(Annual(Awards(Luncheon,(on(Friday,(December(5th,'at'Maggiano’s'Liole'Italy.'Thanks'to'the'success'of'this'event,'we'have'reserved'large'

room.'We'will'recognize'each'nominee'and'their'manager.'Every'nominee'will'receive'a'plaque'and'the'

winners'will'receive'the'Analyst'of'the'Year'or'Desktop'Support'Technician'award.'We'will'have'an'

amazing'keynote'speaker'and'a'three'course'lunch.'

Page 6: Hdi Capital Area September 2014 Meeting Slides

Thank(You(2014(Sponsors!!((

Page 7: Hdi Capital Area September 2014 Meeting Slides

HDI(Capital(Area(Sponsors(

•  Diamond'–'The'MIL'

CorporaEon'

•  PlaEnum'Plus'O'

LanDesk'

•  PlaEnum'

– Beyond20'– EasyVista'

•  Gold'

–  Robert'Half'Technology'(Global'Sponsor)'

–  Bomgar'

–  IssueTrak'–  Cherwell'

•  Silver'

–  Service'Now'–  Time'Warner'Cable'

•  Web/Event'

–  IEnvolve'–  RemedyForce''

–  ReACT'–  StrataCom'

–  TechnoLava'–  ArEsys'

Page 8: Hdi Capital Area September 2014 Meeting Slides

Next(MeeJng(

October(Vendor(Fair((Don’t(miss(it!((•  We'typically'meet'the'3rd'Wednesday'of'the'

month'and'most'meeEngs'are'free'

•  Visit'www.hdicapitalarea.com'to'register'

'

Page 9: Hdi Capital Area September 2014 Meeting Slides

Today’s(Speaker(

(Jeff(Hance((LANDESK((

('

The(SoluJon:(Automated(Onboarding(and(TerminaJon!(

((((

Page 10: Hdi Capital Area September 2014 Meeting Slides

'Jeff'Hance'

'LANDESK'Sonware'

Employee'Onboarding/

Ovoarding'

Page 11: Hdi Capital Area September 2014 Meeting Slides

LANDESK'SOFTWARE'CONFIDENTIAL'LANDESK'SOFTWARE'CONFIDENTIAL'

Who(we(are(

HQ'–'Salt'Lake'City,'Utah''

!  Our'History''''•  1985'Founded'(LAN'Systems)'

•  1991'Pioneered'Systems'Management'with'Intel'

•  2002'Spun'out'''

!  Business'Product'Lines''•  LANDesk'O'Wavelink'O'Shavlik'

!  Industry'Leader,'Award'Winning'SoluEons'•  UserOOriented'IT'Service'Management'

•  Systems'Lifecycle'Management'

•  Endpoint'Security'Management'

•  Premise'&/or'CloudOSaaS'Deployment'Models'

•  IT'Asset'Management'

!  Key'Facts'•  19,000'customers'worldOwide'

•  Alliances'•  400+'SI/VARs'–'CerEfied'Expert'SoluEon'Providers'

Page 12: Hdi Capital Area September 2014 Meeting Slides

•  Who'has'shown'up'for'their'first'day'of'work'

to'find'out'they'weren’t'ready'for'you?'

'Where'do'I'sit?'I'don’t'have'a'computer?'

How'do'I'log'into'email?'I'can’t'get'into'the'HR'

system'to'file'my'paperwork?'

•  Who'has'terminated'an'employee'and'has'

no'idea'what'access'needs'to'be'removed'or'

what'company'assets'were'assigned'to'them'

'Did'they'have'a'laptop?'What'about'a'phone?'How'do'

I'disable'their'email'but'make'sure'it'is'backed'up?''

“IT'Lets'set'the'stage”'

Page 13: Hdi Capital Area September 2014 Meeting Slides

•  Safe'to'say'everyone'is'trying'to'increase'efficiency'and'reduce'costs'

•  Retaining'quality'employees'is'a'

huge'issue'in'todays'market.'First'

impression'is'huge.'

•  MeeEng'security'compliance(HIPAA,'

SOX,'PCI)'just'to'name'a'few'

•  Remove'human'error'when'possible.'

•  Free'up'resources'

'

'

Why'do'it?'

Page 14: Hdi Capital Area September 2014 Meeting Slides

•  ProcessO'I'am'sure'we'have'all'heard'

80%'process'20%'tools'

•  ITSM'Tools'–'AutomaEon'and'

IntegraEon'

•  Phased'Approach'–'Start'with'the'basics'

'

What’s'the'recipe'for'success?”'

Page 15: Hdi Capital Area September 2014 Meeting Slides

Demo'Time'

Lets'see'what'we'can'do?'

Page 16: Hdi Capital Area September 2014 Meeting Slides

' ' ' ''

'

'

'

'

'Jeff'Hance'

[email protected]'

'407'712'0065'

16'

LANDesk'Service'Desk:''hop://www.youtube.com/watch?v=fV31vx9Rtg0'

'

''

LANDesk'Blog:''hop://www.landesk.com/blog/'

'

'

Page 17: Hdi Capital Area September 2014 Meeting Slides

''

17'

Thank You!'

The'informaEon'herein'is'the'confidenEal'informaEon'and/or'proprietary'property'of'LANDesk'Sonware,'Inc.'and'its'affiliates'(referred'to'collecEvely'as'

“LANDesk”),'and'may'not'be'disclosed'or'copied'without'prior'wrioen'consent'of'LANDesk.'

'

To'the'maximum'extent'permioed'under'applicable'law,'LANDesk'assumes'no'liability'whatsoever,'and'disclaims'any'express'or'implied'warranty,'relaEng'to'the'

sale'and/or'use'of'LANDesk'products'including'liability'or'warranEes'relaEng'to'fitness'for'a'parEcular'purpose,'merchantability,'or'infringement'of'any'patent,'

copyright'or'other'intellectual'property'right,'without'limiEng'the'rights'under'copyright.'''

LANDesk'retains'the'right'to'make'changes'to'the'informaEon'herein'or'related'product'specificaEons'and'descripEons,'at'any'Eme,'without'noEce.'LANDesk'

makes'no'warranty'for'the'use'of'the'informaEon'herein'and'assumes'no'responsibility'for'any'errors'that'can'appear'nor'does'it'make'a'commitment'to'update'

the'informaEon'contained'herein.'For'the'most'current'product'informaEon,'please'visit'www.landesk.com.''

Copyright'©'2010,'LANDesk'Sonware,'Inc.'and'its'affiliates.''All'rights'reserved.'LANDesk'and'its'logos'are'registered'trademarks'or'trademarks'of'LANDesk'

Sonware,'Inc.'and'its'affiliates'in'the'United'States'and/or'other'countries.'Other'brands'and'names'may'be'claimed'as'the'property'of'others.'

Page 18: Hdi Capital Area September 2014 Meeting Slides

Problem #1New employees join organizations only to arrive with no workstation, user profile, or access to critical systems. Perhaps you have an onboarding process, but if not, automated steps may be occasionally missed. It may take weeks before new employees are fully able to do the job for which they were hired.

Problem #2You just had a key employee leave the company to work for a competitor. Are you certain that the individual’s access to business-critical systems has been deactivated?

Organizations face these problems daily when they manage the acquisition and termination of employees manually. In many cases, companies don’t even realize they have left access to business systems open to exiting employees, exposing both the organization and its customers to risk.

The Solution: Automated Onboarding and Termination What if you could ensure that workstations for new employees were set up correctly in advance of them joining the company? What if you could ensure and report on the termination of employees and their access to critical systems? The LANDESK automated onboarding and termination process allows you to:

�Q Initiate the onboarding process via HR when offers are made to new hires

�Q Request employee profile information from the hiring manager�Q Automate the creation of Active Directory and email accounts�Q Assign software bundles to new employees for automatic

distribution by department�Q Track assets and software titles deployed to new employees�Q Control access to business-critical systems by assigning users

to AD Security Groups�Q Schedule termination dates�Q Provide managers asset lists for exiting employees

�Q Back up email accounts to network storage for auditing�Q Halt access to critical systems immediately when employees

are terminated�Q Provide reports on terminated employees and successful

completion of termination tasks

With LANDESK® Automated Solutions you can improve user productivity while retaining IT control.

Contact LANDESKDon’t be left in the dark, or allow the security of your enterprise IT systems to be compromised due to manual error. Call your LANDESK account representative today and learn how User-Oriented IT solutions from LANDESK help you maximize employee productivity and simplify IT operations.

Employee Onboarding and TerminationDid you know that with LANDESK® Service Desk IT, can synchronize with HR’s hiring and termination process to automate device provisioning?

User-Oriented IT: LANDESK Automated Solutions

Visit WWW.LANDESK.COM for more information.Copyright © 2014, LANDESK Software, Inc. This document contains confidential information of LANDESK Software. LANDESK makes no warranty for the use of the information herein and assumes no responsibility for any errors that may appear, nor does it make a commitment to update the information contained herein. LSI-1245 04/02 BW/BB/MP

HR inputs NewHire request

Email todistribution

list New Hire,including NewHire manager

Managerreviews andadds details

Routed byCEO toAnalyst

AssignedAnalyst reviewsand submits for

accountcreation when

completed

Accounts taskscreated and

awaitingcompletion by

multipleassignees

Automation ofEmail

EnablementSecurity Group

additions basedon form choicesand addition todistribution lists

Analyst (s)completeremaining

tasks

HR and DL NewHire notified all

tasks arecomplete for

New Hire

Request auto closed

Page 19: Hdi Capital Area September 2014 Meeting Slides

������� �"/3& " �"0(�/"�2&)1 �,+1"+1

Page 20: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

7KLV GRFXPHQW FRQWDLQV LQIRUPDWLRQ� ZKLFK LV WKH FRQILGHQWLDO LQIRUPDWLRQ DQG�RU SURSULHWDU\ SURSHUW\ RI/$1'(6. 6RIWZDUH� ,QF� DQG LWV DIILOLDWHV �UHIHUUHG WR FROOHFWLYHO\ DV ³/$1'(6.´�� DQGPD\ QRW EH GLVFORVHGRU FRSLHG ZLWKRXW SULRU ZULWWHQ FRQVHQW RI /$1'(6.�

7R WKH PD[LPXP H[WHQW SHUPLWWHG XQGHU DSSOLFDEOH ODZ� /$1'(6. DVVXPHV QR OLDELOLW\ ZKDWVRHYHU� DQGGLVFODLPV DQ\ H[SUHVV RU LPSOLHG ZDUUDQW\� UHODWLQJ WR WKH VDOH DQG�RU XVH RI /$1'(6. SURGXFWV LQFOXGLQJOLDELOLW\ RU ZDUUDQWLHV UHODWLQJ WR ILWQHVV IRU D SDUWLFXODU SXUSRVH� PHUFKDQWDELOLW\� RU LQIULQJHPHQW RI DQ\SDWHQW� FRS\ULJKW RU RWKHU LQWHOOHFWXDO SURSHUW\ ULJKW� ZLWKRXW OLPLWLQJ WKH ULJKWV XQGHU FRS\ULJKW�

/$1'(6. UHWDLQV WKH ULJKW WR PDNH FKDQJHV WR WKLV GRFXPHQW RU UHODWHG SURGXFW VSHFLILFDWLRQV DQGGHVFULSWLRQV� DW DQ\ WLPH� ZLWKRXW QRWLFH� /$1'(6.PDNHV QR ZDUUDQW\ IRU WKH XVH RI WKLV GRFXPHQW DQGDVVXPHV QR UHVSRQVLELOLW\ IRU DQ\ HUURUV WKDW FDQ DSSHDU LQ WKH GRFXPHQW QRU GRHV LW PDNH D FRPPLWPHQWWR XSGDWH WKH LQIRUPDWLRQ FRQWDLQHG KHUHLQ� )RU WKH PRVW FXUUHQW SURGXFW LQIRUPDWLRQ� SOHDVH YLVLWZZZ�ODQGHVN�FRP�

&RS\ULJKW � ����� ����� /$1'(6. 6RIWZDUH� ,QF� DQG LWV DIILOLDWHV� $OO ULJKWV UHVHUYHG� /$1'(6. DQG LWVORJRV DUH UHJLVWHUHG WUDGHPDUNV RU WUDGHPDUNV RI /$1'(6. 6RIWZDUH� ,QF� DQG LWV DIILOLDWHV LQ WKH 8QLWHG6WDWHV DQG�RU RWKHU FRXQWULHV� 2WKHU EUDQGV DQG QDPHVPD\ EH FODLPHG DV WKH SURSHUW\ RI RWKHUV�

'RFXPHQW QXPEHU /'6'?��� ,VVXH ���

Page 21: Hdi Capital Area September 2014 Meeting Slides

&RQWHQWV&RQWHQWV �,QWURGXFWLRQ �$ERXW WKLV GRFXPHQW ��,7,/ ��

,QFLGHQW PDQDJHPHQW ��3URFHVVHV ��,QFLGHQW 0DQDJHPHQW� ,QFLGHQW ��,QFLGHQW 0DQDJHPHQW� ,QFLGHQW ZLWK 6XUYH\ ��,QFLGHQW 0DQDJHPHQW� 5LFK ,QFLGHQW ��,QFLGHQW 0DQDJHPHQW� 5LFK ,QFLGHQW ZLWK 6XUYH\ ��,QFLGHQW 0DQDJHPHQW� )XOO ,QFLGHQW ��,QFLGHQW 0DQDJHPHQW� 7DVN ��,QFLGHQW 0DQDJHPHQW� $VVLJQHG 7DVN ��,QFLGHQW 0DQDJHPHQW� ,QFLGHQW :DWFK /LVW 7DVN ��

5HSRUWV ��%UHDFKHG ,QFLGHQW 5HSRUW ��*HQHUDO ,QFLGHQW 5HSRUW 6SHFLILF ��,QFLGHQW 5HSRUW ��,QFLGHQW 6XPPDU\ 5HSRUW ��,QFLGHQWV &ORVHG:LWKLQ 2QH 'D\ ��,QFLGHQWV &UHDWHG LQ 0RQWK E\ $VVLJQHH ��7LPH WR UHVROXWLRQ UHSRUW ��

4XHULHV ��$FWLYH ,QFLGHQW 7DVN $VVLJQPHQWV ��$OO ,QFLGHQWV ��%UHDFKHG ,QFLGHQWV ��%\ &DWHJRU\ ��%\ &RQILJXUDWLRQ ,WHP ��%\ 8VHU ��%\ 8VHU ± 2SHQ ��%\ 8VHU ± 7RGD\ ��&ORVHG ,QFLGHQWV /RJJHG 7RGD\ ��*URXS ,QFLGHQW :RUNORDG ��,QFLGHQW ± 5HPLQGHUV ��,QFLGHQW ± 7DVN $VVLJQPHQWV ��,QFLGHQW ± 7DVN 5HPLQGHUV ��,QFLGHQW $VVLJQPHQWV ��,QFLGHQW 6HDUFK ��,QFLGHQW 7DVN $VVLJQPHQWV ��,QFLGHQW :RUNORDG /LVW ��,QFLGHQWV $ZDLWLQJ 5HVSRQVH ��,QFLGHQWV %\ 6WDWXV ��,QFLGHQWV ,�$P :DWFKLQJ ��,QFLGHQWV /RJJHG 7RGD\ E\ 6WDWXV ��0DMRU ,QFLGHQWV ��0\ *URXS ,QFLGHQW :RUNORDG ��0\ ,QFLGHQW 7DVN :RUNORDG ��0\ ,QFLGHQW :RUNORDG ��2SHQ %UHDFKHG ,QFLGHQWV ��2SHQ ,QFLGHQWV ��2SHQ ,QFLGHQWV E\ &DWHJRU\ ��2SHQ ,QFLGHQWV E\ 5HVSRQVH /HYHO ��

Page 22: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

2SHQ ,QFLGHQWV /RJJHG 7RGD\ ��5HRSHQHG ,QFLGHQWV ��5HVROYHG ,QFLGHQWV ��5HVROYHG ,QFLGHQWV 'XH 7R %H $XWR &ORVHG ��5HVROYHG ,QFLGHQWV /RJJHG 7RGD\ ��66 0\ $QVZHUHG 4XHVWLRQV ��66 0\ &ORVHG ,QFLGHQWV ��66 0\ ,QFLGHQWV ��66 0\ 2SHQ ,QFLGHQWV ��66 0\ 5HVROYHG ,QFLGHQWV ��66 0\ 8QDQVZHUHG 4XHVWLRQV ��66 2SHQ ,QFLGHQWV ��66 5HFHQWO\ $VNHG 4XHVWLRQV ��8QUHVROYHG ,QFLGHQWV ��

5HVSRQVH OHYHOV ��&DWHJRULHV ��2UGHUHG OLVWV ��5HIHUHQFH OLVWV ��,QFLGHQW WHPSODWHV ��:LQGRZ YLHZV ��'HIDXOW ��

3UREOHP PDQDJHPHQW ��3URFHVVHV ��3UREOHP 0DQDJHPHQW� 6LPSOH 3UREOHP ��3UREOHP 0DQDJHPHQW� 7DVN ��

5HSRUWV ��3UREOHP 5HSRUW ��3UREOHPV &UHDWHG LQ 0RQWK E\ $VVLJQHH ��

4XHULHV ��$FWLYH 3UREOHPV ��$OO 3UREOHPV ��3UREOHP ± &DXVHV ��3UREOHP ± (VFDODWLRQ 3RLQWV ��3UREOHP ± 5HPLQGHUV ��3UREOHP ± 7DVN $VVLJQPHQWV ��3UREOHP ± 7DVN 5HPLQGHUV ��3UREOHPV $ZDLWLQJ &KDQJH ��3UREOHPV %\ 6WDWXV ��

&DWHJRULHV ��2UGHUHG OLVWV ��

&KDQJH PDQDJHPHQW ��3URFHVVHV ��&KDQJH 0DQDJHPHQW� $VVHW 'LVSRVDO�5HPRYDO ��&KDQJH 0DQDJHPHQW� $VVHW 3URFXUHPHQW ��&KDQJH 0DQDJHPHQW� &KDQJH ��&KDQJH 0DQDJHPHQW� 5HOHDVH 0DQDJHPHQW 3URFHVV ��&KDQJH 0DQDJHPHQW� 6LPSOH &KDQJH ��&KDQJH 0DQDJHPHQW� 6LPSOH 7DVN ��&KDQJH 0DQDJHPHQW� &RQILJXUDWLRQ 7DVN ��&KDQJH 0DQDJHPHQW� 'LVSRVDO $SSURYDO 7DVN ��&KDQJH 0DQDJHPHQW� 3XUFKDVH 5HTXHVW $SSURYDO 7DVN ��&KDQJH 0DQDJHPHQW� 5HOHDVH 0DQDJHPHQW 7HVWLQJ 7DVN ��&KDQJH 0DQDJHPHQW� 5HTXHVW $SSURYDO 7DVN ��

5HSRUWV ��&KDQJH 5HSRUW ��&KDQJHV &UHDWHG LQ 0RQWK E\ $VVLJQHH ��

Page 23: Hdi Capital Area September 2014 Meeting Slides

&217(176

4XHULHV ��$FWLYH &KDQJHV ��$OO &KDQJHV ��$OO 5HOHDVHV ��&KDQJH ± $SSURYDOV ��&KDQJH ± $VVLJQPHQWV ��&KDQJH ± (VFDODWLRQ 3RLQWV ��&KDQJH ± ,PSOHPHQWDWLRQ 6XEPLVVLRQV ��&KDQJH ± 4XRWHV ��&KDQJH ± 5DLVH 3XUFKDVH 2UGHU ��&KDQJH ± 5HPLQGHUV ��&KDQJH ± 7DVN $VVLJQPHQWV ��&KDQJH ± 7DVN 5HPLQGHUV ��&KDQJH ± 7DVNV ��&KDQJH ± 8$7 6XEPLVVLRQV ��&KDQJHV $ZDLWLQJ $XWKRUL]DWLRQ ��&KDQJHV %\ 6WDWXV ��&KDQJHV %\ 7\SH ��5HOHDVH 7HVWV VWLOO 2XWVWDQGLQJ ��5HOHDVHV 3ODQQHG )RU 7RGD\ ��5ROO 2XWV 3ODQQHG )RU WKLV 'D\ ��66 &KDQJHV &XUUHQWO\ $VVLJQHG 7R 0H ��

&DWHJRULHV ��2UGHUHG OLVWV ��5HIHUHQFH OLVWV ��:LQGRZ YLHZV ��$VVHW 0DQDJHPHQW ��'HIDXOW ��5HOHDVH 0DQDJHPHQW ��

&DOO PDQDJHPHQW ��3URFHVVHV ��&DOO 0DQDJHPHQW� &DOO ��&DOO 0DQDJHPHQW� &RPSODLQW ��&DOO 0DQDJHPHQW� 7DVN ��

4XHULHV ��&DOO :RUNORDG /LVW ��

&DWHJRULHV ��2UGHUHG OLVWV ��

5HTXHVW PDQDJHPHQW ��3URFHVVHV ��5HTXHVW 0DQDJHPHQW� $FFHVV 5HTXHVW ��5HTXHVW 0DQDJHPHQW� $/0 $VVHW 5HTXHVW ��5HTXHVW 0DQDJHPHQW� %XQGOH 5HTXHVW ��5HTXHVW 0DQDJHPHQW� *HQHULF 6HUYLFH 5HTXHVW ��5HTXHVW 0DQDJHPHQW� +DUGZDUH 5HTXHVW ��5HTXHVW 0DQDJHPHQW� 1HZ $' 8VHU 5HTXHVW ���5HTXHVW 0DQDJHPHQW� 3DVVZRUG 5HVHW 5HTXHVW ���5HTXHVW 0DQDJHPHQW� 5HTXHVW 7ULDJH ���5HTXHVW 0DQDJHPHQW� 6RIWZDUH 5HTXHVW ���5HTXHVW 0DQDJHPHQW� $XWRPDWHG 6RIWZDUH 5HTXHVW ���5HTXHVW 0DQDJHPHQW� 7DVN ���

5HSRUWV ���5HTXHVW 5HSRUW ���

4XHULHV ���$OO 5HTXHVWV ���0\ 2SHQ 5HTXHVWV ���

Page 24: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

0\ 6XEVFULEHG 6HUYLFHV ���2SHQ 5HTXHVWV ���5HTXHVW ± (VFDODWLRQ 3RLQWV ���5HTXHVW ± 5HPLQGHUV ���5HTXHVW ± 7DVN $VVLJQPHQWV ���5HTXHVW ± 7DVN 5HPLQGHUV ���5HTXHVW /RRNXS ���5HTXHVW 0RGH ���5HTXHVW :RUNORDG /LVW ���5HTXHVWV $ZDLWLQJ $XWKRUL]DWLRQ ���5HTXHVWV $ZDLWLQJ 6WRFN &KHFN ���5HTXHVWV &ORVHG 7RGD\ ���5HTXHVWV /RJJHG 7RGD\ ���5HTXHVWV WR 3URYLVLRQ ���8QFRQILUPHG'HOLYHUHG 6HUYLFHV ���

5HVSRQVH OHYHOV ���$JUHHPHQW UXOHV ���&DWHJRULHV ���2UGHUHG OLVWV ���5HTXHVW WHPSODWHV ���&DWDORJ +LHUDUFK\ &DWHJRULHV ���:LQGRZ YLHZV ���'HIDXOW ���(QG 8VHU ���

+XPDQ 5HVRXUFHV ���3URFHVVHV ���+XPDQ 5HVRXUFHV� &KDQJH 5HTXHVW ���+XPDQ 5HVRXUFHV� +5 ,QFLGHQW ���+XPDQ 5HVRXUFHV� /HDYHU 3URFHVV ���+XPDQ 5HVRXUFHV� 5HFUXLWPHQW 3URFHVV ���+XPDQ 5HVRXUFHV� 6WDUWHU 3URFHVV ���+XPDQ 5HVRXUFHV� $FWLYLW\ 7DVNV ���+XPDQ 5HVRXUFHV� &(2 $SSURYDO 7DVN ���+XPDQ 5HVRXUFHV� 'LUHFWRU $SSURYDO 7DVN ���+XPDQ 5HVRXUFHV� 5HFUXLWPHQW 7DVN ���

4XHULHV ���$FWLYH +5 7DVNV ���$FWLYLW\ :RUNORDG /LVW ���$OO +5 $FWLYLWLHV ���0\ +5 7DVNV ���0\ +5:RUNORDG ���7DVNV ���

5HIHUHQFH OLVWV ���:LQGRZ YLHZV ���(QG 8VHU ���5HFUXLWPHQW ���

.QRZOHGJH PDQDJHPHQW ���3URFHVVHV ���&DWHJRULHV ���2UGHUHG OLVWV ���

&RQILJXUDWLRQ 0DQDJHPHQW ���4XHULHV ���$OO %XQGOHV ���$OO 5HTXHVWDEOH &,V ���$OO 6HUYLFHV ���&, ([FHSWLRQV ���

Page 25: Hdi Capital Area September 2014 Meeting Slides

&217(176

&, /LVW ���&, 6HOHFWLRQ /LVW ���&RQILJ ,WHP DQG*URXS ���&RQILJ ,WHP DQG 5ROH ���5HTXHVW 0RGH ���66 &, /RRNXS ���8VHU 6XEVFULSWLRQV ���

5HIHUHQFH OLVWV ���$VVHW 0DQDJHPHQW ���4XHULHV ���66 &, /RRNXS ���

5HIHUHQFH OLVWV ���:LQGRZ YLHZV ���(QG 8VHU ���

6\VWHP ���3URFHVVHV ���6WDQGDUG &U\VWDO 5HSRUWV ���

5HSRUWV ���$XWR (PDLO 5HSRUW ���0HDQ 7LPH %HWZHHQ )DLOXUHV � 'DWH 5DQJH 5HSRUW ���0HDQ 7LPH %HWZHHQ )DLOXUHV ± <HDUO\ 7UHQG 5HSRUW ���7DVN UHSRUW ���

4XHULHV ���$OO 1RWLFHV ���$OO 3URFHVVHV ���$VVLJQPHQWV ���&ODVV 7\SH 'HWDLOV ���&ODVV 7\SH 6XPPDU\ ���&XVWRPHU *URXS ���'HOHWHG 8VHUV ���(VFDODWLRQ 3RLQW ���0\ &XUUHQW $FWLYLW\ ���2XWERXQG0DLO 4XHXH ���3ULYDWH 1RWLFHV ���3URFHVV /LVW ���3XEOLF 1RWLFHV ���6HDUFK ,3& ���66 $OO :RUN ���66 &UHDWHG %\ &XUUHQW *URXS ���66 /DVW 8SGDWHG %\ &XUUHQW *URXS ���6XSHU 8VHU :RUNORDG /LVW ���8VHU 6HVVLRQV ���8VHUV JURXSHG E\ /LFHQVH 7\SH ���:RUNORDG /LVW ���

2UGHUHG OLVWV ���5HIHUHQFH OLVWV ���&DOHQGDUV ���'HIDXOW ���

$VVHW W\SHV ���8VHUV� JURXSV� DQG UROHV ���6WDQGDUG XVHUV ���$QDO\VWV ���(QG 8VHUV ���6\VWHP 8VHUV ���

6WDQGDUG JURXSV ���*URXSV ���

Page 26: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

6WDQGDUG UROHV ���$QDO\VW 5ROHV ���(QG 8VHU 5ROH ���

Page 27: Hdi Capital Area September 2014 Meeting Slides

,QWURGXFWLRQ<RX FDQ ILQG RXW DERXW�

� $ERXW WKLV GRFXPHQW RQ SDJH ��� ,7,/ RQ SDJH ��

Page 28: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

$ERXW WKLV GRFXPHQW/$1'(6.� 6HUYLFH 'HVN LV KLJKO\ FRQILJXUDEOH� 7KLV GRFXPHQW GHVFULEHV WKH SUHEXLOW FRQWHQW WKDW LVGHOLYHUHG ZLWK WKH GHIDXOW V\VWHP ± WKH VWDQGDUG SURFHVVHV� TXHULHV� UHSRUWV DQG VR RQ�

)RU HDFK SURFHVV� WKHUH LV D EULHI GHVFULSWLRQ RI WKH SURFHVV� IROORZHG E\ WKH SURFHVV GLDJUDP DQG D OLVW RI DOORI WKH RSWLRQDO DFWLRQV IRU HDFK VWDWXV� �2SWLRQDO DFWLRQV DUH WKRVH WKDW GR QRW SURJUHVV WKH SURFHVV WRZDUGVWKH HQG VWDWXV��

7KH VXEVHTXHQW FKDSWHUV RI WKLV GRFXPHQW GHVFULEH WKH GHIDXOW IHDWXUHV GHOLYHUHG IRU HDFK RI WKH PRGXOHV �LQFOXGLQJ GHWDLOV RI WKH SURFHVVHV� TXHULHV� UHSRUWV� DQG OLVWV� 7KHUH LV DOVR D FKDSWHU WKDW GHVFULEHV WKH6\VWHP PRGXOH DQG WKH TXHULHV� UHSRUWV� DQG OLVWV WKDW DUH XVHG DFURVV PRGXOHV� 7KH ILQDO FKDSWHUGHVFULEHV WKH GHIDXOW XVHUV� JURXSV� DQG UROHV�

,7,/6LQFH WKH ODWH ����V� ,7,/ �WKH ,7 ,QIUDVWUXFWXUH /LEUDU\� KDV EHHQ UHFRJQL]HG DV WKH DFFHSWHG VWDQGDUG IRUEHVW SUDFWLFH VWDQGDUGV LQ WHUPV RI GHVLJQLQJ SURFHVVHV IRU ,7 6HUYLFH 0DQDJHPHQW�

,W LV IRU WKLV UHDVRQ WKDW WKH RXW�RI�WKH�ER[ SURFHVVHV SURYLGHG IRU ,7 6HUYLFH 0DQDJHPHQW LQ /$1'(6.6HUYLFH 'HVN KDYH EHHQ GHVLJQHG WR FRPSO\ ZLWK WKH VWDQGDUG ,7,/ EHVW SUDFWLFH VWDQGDUGV IRU ,QFLGHQW�3UREOHP DQG &KDQJH DQG DV VXFK KDYH EHHQ DZDUGHG WKH 3LQN9HULI\� ,7,/ &RPSDWLEOH VWDQGDUG IRU 6HUYLFH6XSSRUW�

��

Page 29: Hdi Capital Area September 2014 Meeting Slides

,QFLGHQW PDQDJHPHQW<RX FDQ ILQG RXW DERXW�

� 3URFHVVHV RQ SDJH ��� 5HSRUWV RQ SDJH ��� 4XHULHV RQ SDJH ��� 5HVSRQVH OHYHOV RQ SDJH ��� &DWHJRULHV RQ SDJH ��� 2UGHUHG OLVWV RQ SDJH ��� ,QFLGHQW WHPSODWHV RQ SDJH ��

Page 30: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

3URFHVVHV,QFLGHQW 0DQDJHPHQW� ,QFLGHQW7KH ,QFLGHQW SURFHVV LV D VLPSOH SURFHVV IRU KDQGOLQJ VXSSRUW LVVXHV� <RX FDQ HLWKHU FORVH ,QFLGHQWV GLUHFWO\�RU UHVROYH DQG WKHQ FORVH WKHP VHSDUDWHO\ DV D WZR�VWHS SURFHGXUH� ,I QHHGHG� \RX FDQ UHWXUQ UHVROYHG RUFORVHG ,QFLGHQWV WR WKH 2SHQ VWDWXV�

7KH $VVLJQ 7R 0H DFWLRQ HQDEOHV DQ DQDO\VW WR DVVLJQ WKH ,QFLGHQW WR WKHPVHOYHV DQG WKHLU FXUUHQW JURXSZLWK D VLQJOH PRXVH�FOLFN�

<RX FDQQRW UHVROYH RU FORVH DQ ,QFLGHQW LI WKHUH DUH DQ\ 7DVNV WKDW KDYH QRW EHHQ FRPSOHWHG�

��

Page 31: Hdi Capital Area September 2014 Meeting Slides

,1&,'(170$1$*(0(17

2SWLRQDO DFWLRQV IRU HDFK VWDWXV�

6WDWXV 2SWLRQDO DFWLRQV

2SHQ $GG $VVLJQPHQW$GG $WWDFKPHQW$GG &KDQJH$GG &KLOG ,QFLGHQW$GG /LQNHG .QRZOHGJH$GG 1RWH$GG 3DUHQW ,QFLGHQW$GG 3UREOHP$GG 5HPLQGHU$GG 7DVN&UHDWH &KDQJH&UHDWH &KLOG ,QFLGHQW&UHDWH 3UREOHP'HWDFK &KDQJH'HWDFK &KLOG ,QFLGHQW'HWDFK /LQNHG .QRZOHGJH'HWDFK 3UREOHP6WDUW &ORFN6WRS &ORFN

5HVROYHG $GG $WWDFKPHQW

&ORVHG 1RQH

127(� 7KH DFWLRQV WKDW FUHDWH OLQNHG SURFHVVHV �IRU H[DPSOH� &UHDWH &KDQJH� ZLOO EH DYDLODEOH DW UXQWLPH RQO\ LIWKH OLQNHG SURFHVV WKDW LV VSHFLILHG KDV EHHQ DFWLYDWHG�

��

Page 32: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

,QFLGHQW 0DQDJHPHQW� ,QFLGHQW ZLWK 6XUYH\7KH ,QFLGHQW ZLWK 6XUYH\ SURFHVV LV D YHUVLRQ RI WKH VWDQGDUG ,QFLGHQW SURFHVV ZLWK WKH RSWLRQ RI VHQGLQJ DVLPSOH HQG�XVHU VXUYH\ DIWHU WKH ,QFLGHQW LV UHVROYHG�

)RU GHWDLOV DERXW WKH 2SWLRQDO $FWLRQV DW HDFK VWDWXV� VHH WKH ,QFLGHQW SURFHVV�

%\ GHIDXOW� HYHU\ WHQWK ,QFLGHQW LV VHOHFWHG IRU VXUYH\LQJ� ,I WKH 5DLVH 8VHU IRU WKH VHOHFWHG ,QFLGHQW KDVRSWHG RXW RI VXUYH\V� WKHQ WKH &RPSOHWH 6XUYH\ DFWLRQ LV QRW DYDLODEOH� <RX FDQ FKDQJH WKH IUHTXHQF\ DWZKLFK WKH &RPSOHWH 6XUYH\ DFWLRQ EHFRPHV DYDLODEOH E\ FKDQJLQJ D YDOXH LQ D FDOFXODWLRQ RQ WKHFRQGLWLRQ FDOOHG6XUYH\"� 7R FKDQJH WKH IUHTXHQF\ RI VXUYH\V� \RX QHHG WR UHSODFH WKLV FRQGLWLRQ ZLWK DQHZ RQH ZLWK D GLIIHUHQW IUHTXHQF\ VSHFLILHG�

��

Page 33: Hdi Capital Area September 2014 Meeting Slides

,1&,'(170$1$*(0(17

7R FKDQJH WKH VXUYH\ IUHTXHQF\��� &UHDWH D QHZ &RQGLWLRQ LQ 3URFHVV 'HVLJQHU��� ,Q WKH &RQGLWLRQV 3URSHUWLHV JULG� VHOHFW &DOFXODWLRQ DORQJVLGH &RQGLWLRQ 7\SH�

�� $ORQJVLGH &DOFXODWLRQ )RUPXOD LQ WKH 3URSHUWLHV JULG� FOLFN �7KH (GLW )RUPXOD GLDORJ DSSHDUV�

�� (QWHU WKH IROORZLQJ FDOFXODWLRQ�LPSRUW 6\VWHPVWDWLF GHI *HW$WWULEXWH9DOXH�,QFLGHQW��

)UHTXHQF\ ��LVBGLYLVLEOH IDOVHLI ,QFLGHQW�5DLVH8VHU � QXOO�

LI ,QFLGHQW�5DLVH8VHU�B'R1RW6XUYH\ QXOO�LVBGLYLVLEOH �,QFLGHQW�,G � )UHTXHQF\ ��

LI ,QFLGHQW�5DLVH8VHU�B'R1RW6XUYH\ � QXOO�LI ,QFLGHQW�5DLVH8VHU�B'R1RW6XUYH\�7R6WULQJ�� )DOVH�

LVBGLYLVLEOH �,QFLGHQW�,G � )UHTXHQF\ ��UHWXUQ LVBGLYLVLEOH

�� (GLW WKH OLQH )UHTXHQF\ �� WR VHW WKH UHTXLUHG VXUYH\ IUHTXHQF\� WKHQ FOLFN2. DQG VDYH WKHFKDQJH�

&$87,21� :H UHFRPPHQG WKDW WKLV LV WKH RQO\ OLQH RI WKH FDOFXODWLRQ WKDW \RX FKDQJH� 0DNH VXUH \RX GR QRWFKDQJH WKH LQGHQWDWLRQ RI WKH OLQHV ± WKLV DIIHFWV KRZ WKH FDOFXODWLRQ LV LQWHUSUHWHG�

127(� )RU PRUH LQIRUPDWLRQ DERXW FDOFXODWLRQV� VHH WKH /$1'(6. 6HUYLFH 'HVN 'HVLJQHU *XLGH�

�� 5HSODFH WKH 6XUYH\" FRQGLWLRQ LQ WKH SURFHVV ZLWK WKH QHZ FRQGLWLRQ DQG VDYH WKH FKDQJHV�

8VLQJ WKH 6XUYH\:KHQ WKH LQFLGHQW LV UHVROYHG� D &RPSOHWH 6XUYH\ DFWLRQ EHFRPHV DYDLODEOH DIWHU WKH FRQILJXUHG QXPEHURI ,QFLGHQWV KDYH EHHQ UHVROYHG� 7KH RULJLQDWRU RI WKH ,QFLGHQW �WKDW LV WKH SHUVRQ IRU ZKRP WKH ,QFLGHQWZDV ORJJHG� LV VHQW D UHPLQGHU WR QRWLI\ WKHP WKDW WKHUH LV D VXUYH\ IRU WKHP WR FRPSOHWH� <RX FRXOG XVH3URFHVV $SSURYHU WR VHQG WKLV UHPLQGHU DV DQ H�PDLO FRQWDLQLQJ D OLQN WR WKH 6XUYH\ WKURXJK :HE'HVN�

127(� )RU PRUH LQIRUPDWLRQ DERXW FRQILJXULQJ 3URFHVV $SSURYHU� VHH WKH 3URFHVV 'HVLJQHU FKDSWHU RI WKH/$1'(6. 6HUYLFH 'HVN 'HVLJQHU *XLGH�

,QFLGHQW 0DQDJHPHQW� 5LFK ,QFLGHQW7KH 5LFK ,QFLGHQW SURFHVV LV DQ H[WHQVLRQ WR WKH VWDQGDUG ,QFLGHQW SURFHVV GHVFULEHG LQ WKH SUHYLRXVVHFWLRQ� $V ZLWK WKH VWDQGDUG ,QFLGHQW SURFHVV� \RX FDQ FKRRVH EHWZHHQ D VLQJOH� RU WZR�VWHS FORVXUHPHFKDQLVP� DQG \RX FDQQRW UHVROYH RU FORVH DQ ,QFLGHQW LI WKHUH DUH DQ\ LQFRPSOHWH 7DVNV� 7KH H[WHQVLRQVWR WKH VWDQGDUG ,QFLGHQW SURFHVV DUH GHWDLOHG EHORZ�

,I \RX VHOHFW WKH 1RWLI\ 2ULJLQDWRU FKHFN ER[ RQ WKH 5HVROXWLRQ ZLQGRZ� WKH SHUVRQ WR ZKRP WKH ,QFLGHQW LVFXUUHQWO\ DVVLJQHG LV QRWLILHG WKDW WKH ,QFLGHQW KDV EHHQ UHVROYHG� �7KLV LV GRQH XVLQJ D UHPLQGHU DV DQDXWRPDWLF DFWLRQ��

7KHUH DUH IRXU DFWLRQV DYDLODEOH ZKHQ WKH ,QFLGHQW LV DW WKH2SHQ VWDWXV WKDW� DOWKRXJK QRW VWULFWO\RSWLRQDO DFWLRQV� EHKDYH OLNH RSWLRQDO DFWLRQV LQ WKDW WKH\ GR QRW PRYH WKH SURFHVV WRZDUGV WKH &ORVHGVWDWXV�$VVLJQ 7R 0H�$GG 1RWH�:LWK &XVWRPHU� DQG:LWK �UG 3DUW\ DOO UHWXUQ WR WKH 2SHQ VWDWXVEHIRUH WKH SURFHVV FDQ SURFHHG WR &ORVHG�

7KH $GG 1RWH VHFWLRQ RI WKH SURFHVV XVHV D UHPLQGHU DV DQ DXWRPDWLF DFWLRQ WR QRWLI\ WKH RULJLQDWRUDQG�RU FXUUHQW DVVLJQHH IRU WKH ,QFLGHQW WKDW D QRWH KDV EHHQ DGGHG WR WKH ,QFLGHQW� 7KH 1RWH ZLQGRZLQFOXGHV WZR FKHFN ER[HV WR VSHFLI\ ZKLFK RI WKHVH QRWLILFDWLRQV DUH UHTXLUHG�

��

Page 34: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

7KH $VVLJQ 7R 0H DFWLRQ� ZKLFK HQDEOHV DQ DQDO\VW WR DVVLJQ WKH ,QFLGHQW WR WKHPVHOYHV DQG WKHLU FXUUHQWJURXSZLWK D VLQJOH PRXVH�FOLFN� LV DOVR DYDLODEOH IURP WKH:LWK &XVWRPHU DQG:LWK �UG 3DUW\ VWDWXVHV�

7KH:LWK &XVWRPHU DQG:LWK �UG 3DUW\ VHFWLRQV RI WKH SURFHVV DXWRPDWLFDOO\ VWRS WKH VHUYLFH OHYHOFORFN ZKHQ WKH ,QFLGHQW LV ZLWK D FXVWRPHU RU �UG SDUW\ IRU WKHP WR SURYLGH \RX ZLWK VRPH LQIRUPDWLRQ�:KHQ WKH FXVWRPHU RU �UG SDUW\ SURYLGHV WKH QHFHVVDU\ LQIRUPDWLRQ� WKH %DFN )URP &XVWRPHU��UG 3DUW\DFWLRQV UHWXUQ WKH ,QFLGHQW WR WKH2SHQ VWDWXV DQG DXWRPDWLFDOO\ UHVWDUW WKH VHUYLFH OHYHO FORFN� <RX FDQDOVR DGG QRWHV WKDW LQFOXGH UHPLQGHU QRWLILFDWLRQV WR WKH RULJLQDWRU DQG�RU FXUUHQW DVVLJQHH ZKLOH WKH,QFLGHQW LW LV ZLWK D FXVWRPHU RU �UG SDUW\�

$VVLJQPHQW GHWDLOV�

,' IURP DERYH $VVLJQPHQW

� ,QFLGHQW�6XJJHVWHG *URXS

� ,QFLGHQW�&XUUHQW $VVLJQPHQW�8VHU,QFLGHQW�&XUUHQW $VVLJQPHQW�*URXS,QFLGHQW�&XUUHQW $VVLJQPHQW�5ROH

��

Page 35: Hdi Capital Area September 2014 Meeting Slides

,1&,'(170$1$*(0(17

2SWLRQDO DFWLRQV IRU HDFK VWDWXV�

6WDWXV 2SWLRQDO DFWLRQV

2SHQ $GG $VVLJQPHQW$GG $WWDFKPHQW$GG &KDQJH$GG &KLOG ,QFLGHQW$GG /LQNHG .QRZOHGJH$GG 3DUHQW ,QFLGHQW$GG 3UREOHP$GG 7DVN&UHDWH &KDQJH&UHDWH &KLOG ,QFLGHQW&UHDWH 3UREOHP'HWDFK &KDQJH'HWDFK &KLOG ,QFLGHQW'HWDFK /LQNHG .QRZOHGJH'HWDFK 3UREOHP

:LWK &XVWRPHU $GG $WWDFKPHQW

:LWK �UG 3DUW\ $GG $WWDFKPHQW

5HVROYHG $GG $WWDFKPHQW

&ORVHG 1RQH

127(� 7KH DFWLRQV WKDW FUHDWH OLQNHG SURFHVVHV �IRU H[DPSOH� &UHDWH &KDQJH� ZLOO EH DYDLODEOH DW UXQWLPH RQO\ LIWKH OLQNHG SURFHVV WKDW LV VSHFLILHG KDV EHHQ DFWLYDWHG�

��

Page 36: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

,QFLGHQW 0DQDJHPHQW� 5LFK ,QFLGHQW ZLWK 6XUYH\7KH 5LFK ,QFLGHQW ZLWK 6XUYH\ SURFHVV LV D YHUVLRQ RI WKH 5LFK ,QFLGHQW SURFHVV ZLWK WKH RSWLRQ RI VHQGLQJ DVLPSOH HQG�XVHU VXUYH\ DIWHU WKH ,QFLGHQW LV UHVROYHG�

127(� )RU GHWDLOV DERXW WKH $VVLJQPHQWV DQG 2SWLRQDO $FWLRQV DW HDFK VWDWXV� VHH ,QFLGHQW 0DQDJHPHQW� 5LFK,QFLGHQW RQ SDJH ���

<RX FDQ VHW WKH IUHTXHQF\ DW ZKLFK VXUYH\V DUH VHQW E\ FKDQJLQJ D YDOXH LQ D FDOFXODWLRQ� )RU PRUHLQIRUPDWLRQ DERXW FRQILJXULQJ DQG XVLQJ WKH VXUYH\V� VHH ,QFLGHQW 0DQDJHPHQW� ,QFLGHQW ZLWK 6XUYH\ RQSDJH ���

,QFLGHQW 0DQDJHPHQW� )XOO ,QFLGHQW7KH )XOO ,QFLGHQW SURFHVV LV DQ H[WHQVLRQ WR WKH 5LFK ,QFLGHQW ZLWK 6XUYH\ SURFHVV GHVFULEHG LQ WKH SUHYLRXVVHFWLRQ� $V ZLWK WKH 5LFK ,QFLGHQW SURFHVV� \RX FDQ FKRRVH EHWZHHQ D VLQJOH� RU WZR�VWHS FORVXUHPHFKDQLVP� DQG \RX FDQQRW UHVROYH RU FORVH DQ ,QFLGHQW LI WKHUH DUH DQ\ LQFRPSOHWH 7DVNV� 7KH )XOO,QFLGHQW DOVR XVHV VLPLODU QRWLILFDWLRQV� $VVLJQ 7R 0H� DQG:LWK &XVWRPHU DQG:LWK �UG 3DUW\ IHDWXUHV DVWKH 5LFK ,QFLGHQW SURFHVV� 7KH H[WHQVLRQV WR WKH 5LFK ,QFLGHQW ZLWK 6XUYH\ SURFHVV DUH GHWDLOHG EHORZ�

��

Page 37: Hdi Capital Area September 2014 Meeting Slides

,1&,'(170$1$*(0(17

7KHUH LV DQ DGGLWLRQDO VWHS DW WKH VWDUW RI WKH )XOO ,QFLGHQW SURFHVV WKDW HQDEOHV \RX WR FDSWXUH LQFLGHQWVWKDW ZHUH ORJJHGZLWK PLQLPDO LQIRUPDWLRQ E\ HQG�XVHUV� 7\SLFDOO\� LQFLGHQWV ORJJHG E\ HQG�XVHUV HLWKHUXVLQJ H�PDLO RU D ZHE SRUWDO ZLOO QRW FRQWDLQ DOO RI WKH VWDQGDUG LQIRUPDWLRQ WKDW DQ DQDO\VW ZRXOG ORJ � EXWRQO\ WKH 8VHU GHWDLOV� D 'HVFULSWLRQ� DQG D 6XPPDU\� 7KHVH LQFLGHQWV ZLOO QRW LQFOXGH D &DWHJRU\� DQGZLOOUHPDLQ DW WKH $ZDLWLQJ 5HVSRQVH VWDWXV XQWLO DQ DQDO\VW KDV XVHG WKH &RPSOHWH 0DQGDWRU\ 'DWD DFWLRQDQG FRPSOHWHG WKH &DWHJRU\ ILHOG� DQG DQ\ RWKHU UHPDLQLQJPDQGDWRU\ ILHOGV� 7KH SURFHVV WKHQ PRYHV WRWKH ,Q 3URJUHVV VWDWXV� DQG LV SURJUHVVHG OLNH DQ\ RWKHU LQFLGHQW�

,I WKH LQFLGHQW LV FRPSOHWHO\ GHDOW ZLWK IRU WKH HQG�XVHU ZKLOH LW LV EHLQJ ORJJHG� VHOHFWLQJ WKH 5HVROYH RQ&UHDWLRQ RU &ORVH RQ &UHDWLRQ FKHFN ER[ RQ WKH ,QFLGHQW ZLQGRZ SURJUHVVHV WKH LQFLGHQW GLUHFWO\ WR WKH5HVROYHG RU &ORVHG VWDWXV� �<RX PLJKW QHHG WR DGG WKHVH FKHFN ER[HV WR WKH ,QFLGHQW ZLQGRZ XVLQJ:LQGRZ0DQDJHU��

2FFDVLRQDOO\ \RX ZLOO ORJ DQ LQFLGHQW� VXFK DV D QHWZRUN IDLOXUH� WKDW DIIHFWV PDQ\ GLIIHUHQW HQG�XVHUV� ,QWKLV FDVH� \RX FDQ GHFODUH WKH LQFLGHQW WR EH D 0DMRU ,QFLGHQW� ZKLFK WKHQ HQDEOHV \RX WR DGGPXOWLSOHDIIHFWHG XVHUV WR WKLV LQFLGHQW� ZLWK D VHSDUDWH FKLOG LQFLGHQW IRU HDFK XVHU� <RX GHFODUH D 0DMRU ,QFLGHQWXVLQJ WKH'HFODUH 0DMRU ,QFLGHQW DFWLRQ� 7KHUH LV DOVR D'RZQJUDGH 0DMRU ,QFLGHQW DFWLRQ WRUHYHUVH DPDMRU LQFLGHQW�

$W WKH ,Q 3URJUHVV VWDWXV \RX FDQ FUHDWH D FKDQJH IURP WKH LQFLGHQW� 7KLV OLQNV WKH FKDQJH WR WKHLQFLGHQW� DQG FRSLHV WKH 5DLVH 8VHU�'HWDLOV� DQG6XPPDU\ ILHOGV IURP WKH ,QFLGHQW ZLQGRZ LQWR WKHFRUUHVSRQGLQJ ILHOGV RQ WKH &KDQJH ZLQGRZ�

)URP WKH ,Q 3URJUHVV�:LWK &XVWRPHU� DQG:LWK �UG 3DUW\ VWDWXVHV� WKHUH LV D:DWFK ,QFLGHQWDFWLRQ� 7KLV FUHDWHV DQ ,QFLGHQW :DWFK /LVW 7DVN� ZKLFK LV WKHQ XVHG E\ WKH ,QFLGHQWV , $P:DWFKLQJ TXHU\ WR HQDEOH XVHUV WR HDVLO\ ILQG ,QFLGHQWV WKDW WKH\ DUH LQWHUHVWHG LQ�

��

Page 38: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

127(� )RU PRUH LQIRUPDWLRQ DERXW WKH ,QFLGHQW :DWFK /LVW 7DVN� VHH ,QFLGHQW 0DQDJHPHQW� ,QFLGHQW :DWFK /LVW7DVN RQ SDJH ��� )RU PRUH LQIRUPDWLRQ DERXW WKH ,QFLGHQWV , $P :DWFKLQJ TXHU\� VHH ,QFLGHQWV ,�$P:DWFKLQJRQ SDJH ���

7KH 5HVROXWLRQ ZLQGRZ LQFOXGHV D &UHDWH .QRZOHGJH $UWLFOH" FKHFN ER[� ,I WKLV LV VHOHFWHG ZKHQ WKHUHVROXWLRQ LV VDYHG� D .QRZOHGJH $UWLFOH LV FUHDWHG WKDW DXWRPDWLFDOO\ SRSXODWHV WKH 7LWOH DQG'HVFULSWLRQRI WKH $UWLFOH ZLWK WKH7LWOH DQG'HVFULSWLRQ RI WKH ,QFLGHQW� DQG WKH 6ROXWLRQ RI WKH $UWLFOH ZLWK WKH'HVFULSWLRQ IURP WKH 5HVROXWLRQ ZLQGRZ RI WKH ,QFLGHQW�

127(� )RU PRUH LQIRUPDWLRQ DERXW WKH $UWLFOH SURFHVV� VHH .QRZOHGJH 0DQDJHPHQW� &RUH $UWLFOH RQ SDJH ����

,I \RX HLWKHU XQUHVROYH RU UHRSHQ DQ LQFLGHQW� WKHQ WKHVH LQFLGHQWV DUH IODJJHG DV 8QUHVROYHG RU 5HRSHQHGDFFRUGLQJO\� 7KLV KLJKOLJKWV WR DQDO\VWV WKDW WKHVH LQFLGHQWV KDYH EHHQ UHVROYHG RU FORVHG SUHYLRXVO\�

,QFLGHQW 0DQDJHPHQW� 7DVN7DVNV HQDEOH \RX WR GLYLGH DQ ,QFLGHQW LQWR PRUH PDQDJHDEOH SLHFHV RI ZRUN� HDFK RI ZKLFK FDQ WKHQ EHDVVLJQHG WR GLIIHUHQW SHRSOH� 7DVNV FDQ EH FRPSOHWHG� DQG FRPSOHWHG 7DVNV FDQ EH UHRSHQHG�

2SWLRQDO DFWLRQV IRU HDFK VWDWXV�

6WDWXV 2SWLRQDO DFWLRQV

2SHQ $GG $VVLJQPHQW$GG 1RWH$GG 5HPLQGHU&UHDWH (VFDODWLRQ 3RLQW5HVWDUW6WDUW &ORFN6WRS &ORFN

&RPSOHWHG 1RQH

��

Page 39: Hdi Capital Area September 2014 Meeting Slides

,1&,'(170$1$*(0(17

,QFLGHQW 0DQDJHPHQW� $VVLJQHG 7DVN:KHQ WKH $VVLJQHG 7DVN LV FUHDWHG� RQFH VDYHG� DQ DVVLJQPHQW LV FUHDWHG DXWRPDWLFDOO\� <RX FDQ WKHQFKRRVH WR ZKRP \RX ZDQW WR DVVLJQ WKLV WDVN� %\ GHIDXOW� WH[W LV DGGHG WR WKH $VVLJQPHQW ZLQGRZ �7DVNKDV EHHQ DVVLJQHG WR \RX��

:KHQ WKH 7DVN LV FRPSOHWHG� WKH FXUUHQWO\ DVVLJQHG DQDO\VW DQG JURXS IRU WKH SDUHQW ,QFLGHQW DUH QRWLILHGWKDW WKH 7DVN KDV EHHQ FRPSOHWHG�

2SWLRQDO DFWLRQV IRU HDFK VWDWXV�

6WDWXV 2SWLRQDO DFWLRQV

2SHQ $GG $VVLJQPHQW$GG 1RWH$GG 5HPLQGHU6WDUW &ORFN6WRS &ORFN

&RPSOHWHG 1RQH

��

Page 40: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

,QFLGHQW 0DQDJHPHQW� ,QFLGHQW :DWFK /LVW 7DVN6HOHFWLQJ WKH:DWFK ,QFLGHQW DFWLRQ LQ WKH )XOO ,QFLGHQW SURFHVV �VHH ,QFLGHQW 0DQDJHPHQW� )XOO,QFLGHQW RQ SDJH ��� FUHDWHV DQ ,QFLGHQW :DWFK /LVW 7DVN� ZKLFK LV WKHQ XVHG E\ WKH ,QFLGHQWV , $P:DWFKLQJ TXHU\ �VHH ,QFLGHQWV ,�$P :DWFKLQJ RQ SDJH ��� WR HQDEOH XVHUV WR HDVLO\ ILQG ,QFLGHQWV WKDWWKH\ DUH LQWHUHVWHG LQ�

7KH ,QFLGHQW :DWFK /LVW 7DVN LPPHGLDWHO\ PRYHV WR WKH:DWFKLQJ VWDWXV� %HFDXVH WKLV LV DQ (QG VWDWXV�WKLV PHDQV WKDW WKH SDUHQW ,QFLGHQW FDQ VWLOO EH UHVROYHG� HYHQ ZLWK WKLV 7DVN OLQNHG WR LW� ,I WKH SDUHQW,QFLGHQW LV FORVHG� WKH 7DVN LV DXWRPDWLFDOO\ FRPSOHWHG� 7KH 6WRS :DWFKLQJ DFWLRQ UHPRYHV WKH ,QFLGHQWIURP WKH UHVXOWV RI WKH ,QFLGHQWV , $P :DWFKLQJ TXHU\�

7KHUH DUH QR RSWLRQDO DFWLRQV�

��

Page 41: Hdi Capital Area September 2014 Meeting Slides

,1&,'(170$1$*(0(17

5HSRUWV%UHDFKHG ,QFLGHQW 5HSRUW)LOH QDPH� %UHDFKHG ,QFLGHQW 5HSRUW�USW

3XUSRVH� /LVWV DOO LQFLGHQWV WKDW KDYH EUHDFKHG WKHLU ,V %UHDFK" HVFDODWLRQ DFWLRQ

3DUDPHWHUV� 6WDUW 'DWH� (QG 'DWH

)LHOGV GLVSOD\HG� ,'� &UHDWLRQ 'DWH� 6WDWXV� &XVWRPHU� 7LWOH� %UHDFK 'DWH �7LPH� 0LQXWHV%UHDFKHG

*HQHUDO ,QFLGHQW 5HSRUW 6SHFLILF)LOH QDPH� ,QFLGHQWV*HQHUDO6SHFLILF�USW

3XUSRVH� 7R GLVSOD\ DOO WKH LQFLGHQWV DFFRUGLQJ WR WKH 3DUDPHWHUV SURYLGHG

3DUDPHWHUV� 6WDUW 'DWH� (QG 'DWH� %UHDFKHG DQG 6WDWXV

)LHOGV GLVSOD\HG� ,'� 6HYHULW\� /RJJHG %\� %UHDFKHG� 6WDWXV� 6WDUW 'DWH DQG (QG 'DWH

,QFLGHQW 5HSRUW)LOH QDPH� ,QFLGHQW�USW

3XUSRVH� 8VHG WR FUHDWH WKH UHSRUW WKDW LV GLVSOD\HGZKHQ \RX FOLFN WKH SULQW EXWWRQ RQDQ ,QFLGHQW

3DUDPHWHUV� *XLG

)LHOGV GLVSOD\HG� /RJJHG %\� 6HYHULW\� 6WDWXV� %UHDFKHG� /RJJHG 'DWH� $VVLJQHG *URXS�$VVLJQHG $QDO\VW� &DWHJRU\� 6XPPDU\ DQG 1RWHV

,QFLGHQW 6XPPDU\ 5HSRUW)LOH QDPH� ,QFLGHQW6XPPDU\�USW

3XUSRVH� 'LVSOD\V FKDUWV RI ,QFLGHQWV E\ 6WDWXV DQG ,QFLGHQWV E\ &DWHJRU\

3DUDPHWHUV� ,QFLGHQW 6WDUW 'DWH� ,QFLGHQW (QG 'DWH

)LHOGV GLVSOD\HG� 7RWDO 1XPEHU RI ,QFLGHQWV 5DLVHG IRU WKLV SHULRG� 7RWDO 1XPEHU RI ,QFLGHQWV QRW&ORVHG

��

Page 42: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

,QFLGHQWV &ORVHG :LWKLQ 2QH 'D\)LOH QDPH� ,QFLGHQWV&ORVHG:LWKLQ2QH'D\�USW

3XUSRVH� /LVWV DQG VKRZV WKH SHUFHQWDJH RI LQFLGHQWV WKDW ZHUH FORVHGZLWKLQ �� KRXUVRI EHLQJ ORJJHG GXULQJ D VSHFLILHG GDWH UDQJH�

3URPSWV� 3HULRG )URP DQG 3HULRG 7R �VHOHFWV LQFLGHQWV FUHDWHG GXULQJ WKLV GDWH UDQJH�

)LHOGV GLVSOD\HG� ,QFLGHQW ,'� 'HVFULSWLRQ� 2SHQ 'DWH� &ORVH 'DWH�

7RWDO LQFLGHQWV DQG 3HUFHQWDJH FORVHGZLWKLQ RQH GD\�

,QFLGHQWV &UHDWHG LQ 0RQWK E\ $VVLJQHH)LOH QDPH� 2SHQ,QFLGHQWV%\0RQWK�USW

3XUSRVH� 7R GLVSOD\ DOO WKH RSHQ LQFLGHQWV IRU D VSHFLILHGPRQWK�

3DUDPHWHUV� 0RQWK� <HDU

)LHOGV GLVSOD\HG� *URXSHG %\ $VVLJQHG *URXS DQG WKHQ $VVLJQHH� ,W WKHQ GLVSOD\V� 3HUFHQWDOUHDG\ UHVROYHG� ,'� 6HYHULW\� %UHDFKHG DQG 'HVFULSWLRQ�

7LPH WR UHVROXWLRQ UHSRUW,03257$17� %HIRUH \RX FDQ XVH WKLV UHSRUW� \RX QHHG WR DGG VRPH YLHZV WR \RXU 6HUYLFH 'HVN GDWDEDVH� 6HHEHORZ IRU GHWDLOV�

)LOH QDPH� 7LPHWR5HVROXWLRQ�USW

3XUSRVH� &DOFXODWHV WKH QXPEHU RI EXVLQHVV KRXUV WKDW KDYH SDVVHG IURP ZKHQ WKHLQFLGHQW ZDV RSHQHG XQWLO WKH ODVW WLPH WKDW LW ZDV UHVROYHG� H[FOXGLQJ DQ\WLPH ZKHQ WKH LQFLGHQW FORFN ZDV VWRSSHG

3DUDPHWHUV� 'DWH )URP� 'DWH 7R

)LHOGV GLVSOD\HG� ,'� 'HVFULSWLRQ� &UHDWLRQ 'DWH� 5HVROXWLRQ 'DWH� 'XUDWLRQ� &ORFN 6WRSSHG�$FWXDO 'XUDWLRQ

&$87,21� $SSO\ WKH YLHZV WR \RXU 6HUYLFH 'HVN GDWDEDVH RQO\ LI \RX DUH JRLQJ WR XVH WKLV UHSRUW� 7KHUH PD\ EH DVPDOO SHUIRUPDQFH GHJUDGDWLRQ E\ DGGLQJ WKLV YLHZ� 0DNH VXUH WKDW \RX XVH WKH DSSURSULDWH VFULSW IRU \RXUGDWDEDVH��WKH 0LFURVRIW 64/ 6HUYHU VFULSWV HQG ZLWK B64/�VTO� WKH 2UDFOH VFULSWV HQG ZLWK B2UDFOH�VTO�

,I \RX DUH XVLQJ DQ 2UDFOH GDWDEDVH� \RX QHHG WR HGLW WKH ILUVW VFULSW EHIRUH UXQQLQJ LW LQ RUGHU WR VSHFLI\ZKLFK GD\ \RX ZDQW WR GHILQH DV WKH ILUVW GD\ RI WKH ZHHN�

7R VSHFLI\ ZKLFK GD\ LV WKH ILUVW GD\ RI WKH ZHHN IRU DQ 2UDFOH GDWDEDVH��� )URP WKH IROGHU &�?3URJUDP )LOHV �[���?/$1'(6.?6HUYLFH 'HVN?5HSRUWV RQ \RXU 6HUYLFH

'HVN VHUYHU� RSHQ 'XUDWLRQ )XQFWLRQVB2UDFOH�VTO LQ D WH[W HGLWRU��� )LQG WKH WZR OLQHV WKDW FRQWDLQ YILUVWGDWH � �� DQG FKDQJH WKH QXPEHU � WR WKH DSSURSULDWH

QXPEHU IRU WKH FRUUHFW GD\ RI WKH ZHHN� ZKHUH � 0RQGD\� � 7XHVGD\� � :HGQHVGD\�� 7KXUVGD\� � )ULGD\� � 6DWXUGD\� � 6XQGD\�

�� 6DYH WKH FKDQJHV�

��

Page 43: Hdi Capital Area September 2014 Meeting Slides

,1&,'(170$1$*(0(17

7R DGG WKH UHTXLUHG YLHZV WR \RXU GDWDEDVH��� 8VLQJ \RXU GDWDEDVH PDQDJHPHQW V\VWHP� DSSO\ WKH SURYLGHG VFULSWV LQ WKH IROORZLQJ RUGHU�

'XUDWLRQ )XQFWLRQVB64/�VTOYZB0D[B5HVROXWLRQB64/�VTOYZB,QFLGHQW'XUDWLRQB64/�VTO

127(� 7KH VFULSWV DUH IRXQG LQ WKH IROGHU &�?3URJUDP )LOHV �[���?/$1'(6.?6HUYLFH 'HVN?5HSRUWV RQ \RXU6HUYLFH 'HVN VHUYHU� ,I \RX DUH XVLQJ 2UDFOH� XVH WKH FRUUHVSRQGLQJ B2UDFOH�VTO VFULSWV�

4XHULHV127(� ,Q DGGLWLRQ WR WKH TXHULHV GHVFULEHG EHORZ� WKHUH DUH GHIDXOW TXHULHV IRU WKH PDLQ REMHFWV LQ WKH ,QFLGHQW0DQDJHPHQW PRGXOH� 7KHVH GHIDXOW TXHULHV KDYH QDPHV RI WKH IRUP ,QFLGHQW � �REMHFW!� DQG GLVSOD\ WKH 7LWOH�RU 6XPPDU\�� &UHDWHG E\� DQG &UHDWHG GDWH ILHOGV� 7KH\ KDYH QR FULWHULD VSHFLILHG� 'HIDXOW TXHULHV WKDW GLIIHUVLJQLILFDQWO\ IURP WKLV DUH DOVR LQFOXGHG EHORZ�

$FWLYH ,QFLGHQW 7DVN $VVLJQPHQWV3XUSRVH� /LVWV DOO RSHQ LQFLGHQW WDVN DVVLJQPHQWV IRU WKH VHOHFWHG LQFLGHQW

3URPSWV� 7DVN ,QFLGHQW

)LHOGV GLVSOD\HG� 7LWOH� &UHDWLRQ 'DWH

&ULWHULD� 6WDWXV LV 2SHQ7DVN ,QFLGHQW LV HTXDO WR �SURPSW XVHU!

$OO ,QFLGHQWV3XUSRVH� /LVWV DOO LQFLGHQWV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU� 6XPPDU\� 6WDWXV� &UHDWLRQ 'DWH� 8VHU� 0LQXWHV 7R%UHDFK� 'HVFULSWLRQ� &DWHJRU\

&ULWHULD� 1RQH

%UHDFKHG ,QFLGHQWV3XUSRVH� /LVWV DOO LQFLGHQWV WKDW KDYH EUHDFKHG WKHLU WXUQDURXQG WLPH�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7LWOH� &UHDWLRQ 'DWH

&ULWHULD� ,QFLGHQW 6WDWXV LV QRW DQ (QG 6WDWXV,QFLGHQW 6WDWXV LV QRW D &RPSOHWLRQ 6WDWXV6WDWXV LV HTXDO WR ([SLUHG7LWOH LV HTXDO WR 5HVSRQVH $JUHHPHQW,V %UHDFK LV HTXDO WR 7UXH

��

Page 44: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

%\ &DWHJRU\3XUSRVH� /LVWV DOO LQFLGHQWV IRU WKH VHOHFWHG FDWHJRU\�

3URPSWV� &DWHJRU\

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU� 7LWOH� 6WDWXV� &UHDWLRQ 'DWH� &ORVH RQ &UHDWLRQ

&ULWHULD� &DWHJRU\ LV HTXDO WR �SURPSW XVHU!

%\ &RQILJXUDWLRQ ,WHP3XUSRVH� /LVWV DOO LQFLGHQWV IRU WKH VHOHFWHG &,�

3URPSWV� &,

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU� 7LWOH� 6WDWXV� &UHDWLRQ 'DWH

&ULWHULD� &RQILJXUDWLRQ ,WHP LV HTXDO WR �SURPSW XVHU!

%\ 8VHU3XUSRVH� /LVWV DOO LQFLGHQWV IRU WKH VHOHFWHG 5DLVH 8VHU�

3URPSWV� 5DLVH 8VHU

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU� 7LWOH� 6WDWXV� &UHDWLRQ 'DWH

&ULWHULD� 5DLVH 8VHU LV HTXDO WR �SURPSW XVHU!

%\ 8VHU ± 2SHQ3XUSRVH� /LVWV DOO RSHQ LQFLGHQWV IRU WKH VHOHFWHG 5DLVH 8VHU�

3URPSWV� 5DLVH 8VHU

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU� 7LWOH� 6WDWXV� &UHDWLRQ 'DWH

&ULWHULD� 5DLVH 8VHU LV HTXDO WR �SURPSW XVHU!$1' 6WDWXV LV QRW D &RPSOHWLRQ 6WDWXV

%\ 8VHU ± 7RGD\3XUSRVH� /LVWV DOO LQFLGHQWV ORJJHG WRGD\ IRU WKH VHOHFWHG 5DLVH 8VHU�

3URPSWV� 5DLVH 8VHU

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU� 7LWOH� 6WDWXV� &UHDWLRQ 'DWH

&ULWHULD� 5DLVH 8VHU LV HTXDO WR �SURPSW XVHU!$1' &UHDWLRQ 'DWH LV 7RGD\

��

Page 45: Hdi Capital Area September 2014 Meeting Slides

,1&,'(170$1$*(0(17

&ORVHG ,QFLGHQWV /RJJHG 7RGD\3XUSRVH� /LVWV DOO LQFLGHQWV WKDW ZHUH ORJJHG WRGD\ WKDW DUH QRZ FORVHG�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,'�7LWOH� &UHDWLRQ 'DWH� 6WDWXV� 8VHU� 'HVFULSWLRQ� &DWHJRU\

&ULWHULD� 6WDWXV LV DQ (QG VWDWXV$1' &UHDWLRQ 'DWH LV 7RGD\

*URXS ,QFLGHQW :RUNORDG3XUSRVH� /LVWV DOO LQFLGHQWV WKDW DUH DVVLJQHG WR \RXU FXUUHQW JURXS�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU� 7LWOH� 6WDWXV� 5DLVH 8VHU� &XUUHQW $VVLJQPHQW 8VHU�&XUUHQW $VVLJQPHQW *URXS� $VVLJQPHQW &UHDWLRQ 'DWH

&ULWHULD� &XUUHQW $VVLJQPHQW *URXS LV &XUUHQW *URXS

,QFLGHQW ± 5HPLQGHUV3XUSRVH� 'HIDXOW TXHU\ IRU ,QFLGHQW 5HPLQGHUV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 6XEMHFW� 6HQG GDWH

&ULWHULD� 1RQH

,QFLGHQW ± 7DVN $VVLJQPHQWV3XUSRVH� 'HIDXOW TXHU\ IRU ,QFLGHQW 7DVN $VVLJQPHQWV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7LWOH� &UHDWHG E\� 8VHU DVVLJQHG WR� *URXS DVVLJQHG WR� $VVLJQPHQW GDWH

&ULWHULD� 1RQH

,QFLGHQW ± 7DVN 5HPLQGHUV3XUSRVH� 'HIDXOW TXHU\ IRU ,QFLGHQW 7DVN 5HPLQGHUV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 6XEMHFW� 6HQG GDWH

&ULWHULD� 1RQH

,QFLGHQW $VVLJQPHQWV3XUSRVH� /LVWV $VVLJQPHQWV IRU WKH VHOHFWHG ,QFLGHQW

3URPSWV� ,QFLGHQW ,'

��

Page 46: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

)LHOGV GLVSOD\HG� 7LWOH� $VVLJQPHQW GDWH

&ULWHULD� ,QFLGHQW LV HTXDO WR �SURPSW XVHU!

,QFLGHQW 6HDUFK3XUSRVH� $ SURPSWHG VHDUFK IRU LQFLGHQWV

3URPSWV� 5HIHUHQFH 1XPEHU� 7LWOH� 5DLVH 8VHU� &UHDWLRQ 'DWH� 6WDWXV

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU� 7LWOH�&UHDWLRQ 'DWH� 6WDWXV� 5DLVH 8VHU� 'HVFULSWLRQ

&ULWHULD� 5HIHUHQFH 1XPEHU LV HTXDO WR �SURPSW XVHU!7LWOH FRQWDLQV �SURPSW XVHU!5DLVH 8VHU FRQWDLQV �SURPSW XVHU!&UHDWLRQ 'DWH LV EHWZHHQ �SURPSW XVHU!6WDWXV LV HTXDO WR �SURPSW XVHU!

,QFLGHQW 7DVN $VVLJQPHQWV3XUSRVH� /LVWV 7DVN $VVLJQPHQWV IRU WKH VHOHFWHG ,QFLGHQW

3URPSWV� ,QFLGHQW ,'

)LHOGV GLVSOD\HG� 7LWOH� $VVLJQPHQW GDWH

&ULWHULD� 7DVN�,QFLGHQW LV HTXDO WR �SURPSW XVHU!

,QFLGHQW :RUNORDG /LVW3XUSRVH� $ SULRULWL]HG OLVW RI LQFLGHQWV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 3ULRULW\� &ODVV� /LIHF\FOH� ,'� 5DLVHG %\� $VVLJQHG *URXS� $VVLJQHG $QDO\VW�$VVLJQPHQW 'DWH� $VVLJQPHQW 1XPEHU� 7LWOH� 6WDWXV

&ULWHULD� &XUUHQW $VVLJQPHQW 8VHU LV &XUUHQW 8VHU 25&XUUHQW $VVLJQPHQW *URXS LV QXOO 25&XUUHQW $VVLJQPHQW�*URXS LV &XUUHQW *URXS

,QFLGHQWV $ZDLWLQJ 5HVSRQVH3XUSRVH� /LVWV LQFLGHQWV DW WKH $ZDLWLQJ 5HVSRQVH VWDWXV� 7\SLFDOO\ XVHG WR LGHQWLI\

LQFLGHQWV ORJJHG E\ HQG�XVHUV XVLQJ WKH )XOO ,QFLGHQW SURFHVV WKDW QHHGSURJUHVVLQJ�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU�7LWOH� &UHDWLRQ 'DWH� $VVLJQHG 8VHU� 5DLVH 8VHU� 5HVSRQVH/HYHO

&ULWHULD� 6WDWXV LV HTXDO WR $ZDLWLQJ 5HVSRQVH

��

Page 47: Hdi Capital Area September 2014 Meeting Slides

,1&,'(170$1$*(0(17

,QFLGHQWV %\ 6WDWXV3XUSRVH� /LVWV LQFLGHQWV DW WKH VSHFLILHG VWDWXV� ORJJHG EHWZHHQ VSHFLILHG GDWHV WKDW DUH

DVVLJQHG WR VSHFLILHG XVHUV RU JURXSV�

3URPSWV� &UHDWLRQ 'DWH UDQJH6WDWXV&XUUHQW $VVLJQHG 8VHU&XUUHQW $VVLJQHG *URXS

)LHOGV GLVSOD\HG� ,'�7LWOH� &UHDWLRQ 'DWH� 6WDWXV

&ULWHULD� &UHDWLRQ 'DWH LV EHWZHHQ �SURPSW XVHU!6WDWXV LV HTXDO WR �SURPSW XVHU!&XUUHQW $VVLJQPHQW�8VHU LV HTXDO WR �SURPSW XVHU!&XUUHQW $VVLJQPHQW�*URXS LV HTXDO WR �SURPSW XVHU!

,QFLGHQWV ,�$P :DWFKLQJ3XUSRVH� /LVWV LQFLGHQWV WKDW WKH XVHU KDV VHW WR EH ZDWFKHG�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU�6XPPDU\� &XUUHQW 6WDWXV� &XUUHQWO\ $VVLJQHG *URXS�&XUUHQWO\ $VVLJQHG $QDO\VW� %UHDFKHV� 5DLVH 8VHU� &DWHJRU\� 'HVFULSWLRQ�

&ULWHULD� /LIHF\FOH LV HTXDO WR ,QFLGHQW :DWFK /LVW 7DVN$1' 6WDWXV LV HTXDO WR :DWFKLQJ$1' &UHDWHG %\ LV &XUUHQW 8VHU

,QFLGHQWV /RJJHG 7RGD\ E\ 6WDWXV3XUSRVH� /LVWV LQFLGHQWV DW WKH VSHFLILHG VWDWXV� UHVSRQVH OHYHO� DQG FDWHJRU\ WKDW ZHUH

ORJJHG WRGD\�

3URPSWV� 6WDWXV5HVSRQVH /HYHO&DWHJRU\

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU�7LWOH� 5DLVH 8VHU� &DWHJRU\� 6WDWXV� 5HVSRQVH /HYHO�,PSDFW� 8UJHQF\

&ULWHULD� &UHDWLRQ 'DWH LV WRGD\6WDWXV LV HTXDO WR �SURPSW XVHU!5HVSRQVH /HYHO LV HTXDO WR �SURPSW XVHU!&DWHJRU\ LV HTXDO WR �SURPSW XVHU!

��

Page 48: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

0DMRU ,QFLGHQWV3XUSRVH� /LVWV RSHQ LQFLGHQWV WKDW KDYH EHHQ PDUNHG DV 0DMRU ,QFLGHQWV� XVHG LQ WKH

)XOO ,QFLGHQW SURFHVV �VHH ,QFLGHQW 0DQDJHPHQW� )XOO ,QFLGHQW RQ SDJH ����

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,'�7LWOH� &UHDWLRQ 'DWH� $VVLJQHG $QDO\VW� 8VHU� 5HVSRQVH /HYHO� 6WDWXV

&ULWHULD� 0DMRU ,QFLGHQW LV 7UXH$1'�6WDWXV LV QRW D &RPSOHWLRQ VWDWXV

0\ *URXS ,QFLGHQW :RUNORDG3XUSRVH� $ SULRULWL]HG OLVW RI LQFLGHQWV IRU WKH FXUUHQW JURXS RQO\

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU� 7LWOH� 6WDWXV� 5DLVHG %\� &UHDWLRQ 'DWH� 5HVSRQVH /HYHO�3ULRULW\� 5HRSHQHG� 8QUHVROYHG� 0DMRU ,QFLGHQW� 0LQXWHV WR %UHDFK

&ULWHULD� &XUUHQW $VVLJQPHQW *URXS LV &XUUHQW *URXS$1' &XUUHQW $VVLJQPHQW 8VHU LV 1XOO

0\ ,QFLGHQW 7DVN :RUNORDG3XUSRVH� $ SULRULWL]HG OLVW RI LQFLGHQW WDVNV IRU WKH FXUUHQW XVHU

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,QFLGHQW ,'� 7DVN ,'� 7DVN 6XPPDU\� 7DVN &UHDWLRQ 'DWH� 7DVN 6WDWXV�,QFLGHQW 5DLVHG %\

&ULWHULD� &XUUHQW $VVLJQPHQW 8VHU LV &XUUHQW 8VHU

0\ ,QFLGHQW :RUNORDG3XUSRVH� $ SULRULWL]HG OLVW RI LQFLGHQWV IRU WKH FXUUHQW XVHU

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,'� 7LWOH� 6WDWXV� 5DLVHG %\� &UHDWLRQ 'DWH� 5HVSRQVH /HYHO� 3ULRULW\�5HRSHQHG� 8QUHVROYHG� 0DMRU ,QFLGHQW� 0LQXWHV WR %UHDFK

&ULWHULD� &XUUHQW $VVLJQPHQW 8VHU LV &XUUHQW 8VHU

2SHQ %UHDFKHG ,QFLGHQWV3XUSRVH� /LVWV RSHQ LQFLGHQWV WKDW KDYH EUHDFKHG WKH ,V %UHDFK UHVSRQVH OHYHO�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,'�7LWOH� $VVLJQHG $QDO\VW� 5DLVH 8VHU� &UHDWLRQ 'DWH

&ULWHULD� 6WDWXV LV QRW DQ (QG 6WDWXV$1'�6WDWXV LV QRW D &RPSOHWLRQ 6WDWXV$1' ,V %UHDFKHG LV HTXDO WR 7UXH

��

Page 49: Hdi Capital Area September 2014 Meeting Slides

,1&,'(170$1$*(0(17

2SHQ ,QFLGHQWV3XUSRVH� /LVWV LQFLGHQWV WKDW DUH QHLWKHU DW D &RPSOHWLRQ VWDWXV QRU DQ (QG VWDWXV�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,'�7LWOH� &UHDWLRQ 'DWH� 6WDWXV� 8VHU� 'HVFULSWLRQ� &DWHJRU\

&ULWHULD� 6WDWXV LV QRW DQ (QG 6WDWXV6WDWXV LV QRW D &RPSOHWLRQ 6WDWXV

2SHQ ,QFLGHQWV E\ &DWHJRU\3XUSRVH� /LVWV LQFLGHQWV WKDW DUH QHLWKHU DW D &RPSOHWLRQ VWDWXV QRU DQ (QG VWDWXV�

VRUWHG E\ &DWHJRU\�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,'�7LWOH� &UHDWLRQ 'DWH� 6WDWXV� 8VHU� 'HVFULSWLRQ� &DWHJRU\

&ULWHULD� 6WDWXV LV QRW DQ (QG 6WDWXV6WDWXV LV QRW D &RPSOHWLRQ 6WDWXV

2SHQ ,QFLGHQWV E\ 5HVSRQVH /HYHO3XUSRVH� /LVWV LQFLGHQWV WKDW DUH QHLWKHU DW D &RPSOHWLRQ VWDWXV QRU DQ (QG VWDWXV�

VRUWHG E\ 5HVSRQVH /HYHO�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,'�7LWOH� &UHDWLRQ 'DWH� 6WDWXV� 8VHU� 'HVFULSWLRQ� &DWHJRU\� 5HVSRQVH /HYHO

&ULWHULD� 6WDWXV LV QRW DQ (QG 6WDWXV6WDWXV LV QRW D &RPSOHWLRQ 6WDWXV

2SHQ ,QFLGHQWV /RJJHG 7RGD\3XUSRVH� /LVWV DOO LQFLGHQWV WKDW ZHUH ORJJHG WRGD\ WKDW DUH VWLOO RSHQ�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,'�7LWOH� &UHDWLRQ 'DWH� 6WDWXV� 8VHU� 'HVFULSWLRQ� &DWHJRU\

&ULWHULD� 6WDWXV LV QRW DQ (QG VWDWXV6WDWXV LV QRW D &RPSOHWLRQ VWDWXV&UHDWLRQ 'DWH LV 7RGD\

5HRSHQHG ,QFLGHQWV3XUSRVH� /LVWV LQFLGHQWV WKDW KDYH WKH 5HRSHQHG IODJ VHW� XVHG LQ WKH )XOO ,QFLGHQW

SURFHVV �VHH ,QFLGHQW 0DQDJHPHQW� )XOO ,QFLGHQW RQ SDJH ����

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,'�7LWOH� &UHDWLRQ 'DWH� $VVLJQHG $QDO\VW� 8VHU� 5HVSRQVH /HYHO� 6WDWXV

&ULWHULD� 5HRSHQHG LV HTXDO WR 7UXH

��

Page 50: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

5HVROYHG ,QFLGHQWV3XUSRVH� /LVWV DOO LQFLGHQWV WKDW DUH UHVROYHG�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 3URFHVV 5HIHUHQFH� 5HIHUHQFH 1XPEHU

&ULWHULD� 6WDWXV LV HTXDO WR 5HVROYHG

5HVROYHG ,QFLGHQWV 'XH 7R %H $XWR &ORVHG3XUSRVH� /LVWV DOO UHVROYHG LQFLGHQWV WKDW DUH GXH WR EH FORVHG�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 3URFHVV 5HIHUHQFH� 5HIHUHQFH 1XPEHU

&ULWHULD� 6WDWXV LV HTXDO WR 5HVROYHG$1' $XWR&ORVH)ODJ LV HTXDO WR 7UXH

5HVROYHG ,QFLGHQWV /RJJHG 7RGD\3XUSRVH� /LVWV DOO LQFLGHQWV WKDW ZHUH ORJJHG WRGD\ WKDW DUH QRZ UHVROYHG� DQG LQFOXGHV

WKH WLPH WDNHQ WR UHVROYH HDFK�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,'�7LWOH� &UHDWLRQ 'DWH� 6WDWXV� 8VHU� 'HVFULSWLRQ� &DWHJRU\� 7LPH 7DNHQ WR5HVROYH

&ULWHULD� ,QFLGHQW &UHDWLRQ 'DWH LV 7RGD\

66 0\ $QVZHUHG 4XHVWLRQV3XUSRVH� /LVWV DOO FORVHG LQFLGHQWV ORJJHG E\ WKH FXUUHQW XVHU WKDW KDYH WKH FDWHJRU\ RI

4XHVWLRQ� ,QWHQGHG IRU XVH ZLWK 6HOI 6HUYLFH�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� &UHDWLRQ 'DWH� 'HVFULSWLRQ

&ULWHULD� 5DLVH 8VHU LV &XUUHQW 8VHU$1' &DWHJRU\ LV HTXDO WR 4XHVWLRQ$1' 6WDWXV LV DQ (QG VWDWXV

66 0\ &ORVHG ,QFLGHQWV3XUSRVH� /LVWV DOO FORVHG LQFLGHQWV ORJJHG E\ WKH FXUUHQW XVHU� ,QWHQGHG IRU XVH ZLWK

6HOI 6HUYLFH�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU� &UHDWLRQ 'DWH� 7LWOH� 6WDWXV

&ULWHULD� 5DLVH 8VHU LV &XUUHQW 8VHU$1' 6WDWXV LV DQ (QG VWDWXV

��

Page 51: Hdi Capital Area September 2014 Meeting Slides

,1&,'(170$1$*(0(17

66 0\ ,QFLGHQWV3XUSRVH� /LVWV DOO LQFLGHQWV ORJJHG E\ WKH FXUUHQW XVHU� ,QWHQGHG IRU XVH ZLWK 6HOI

6HUYLFH�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU� &UHDWLRQ 'DWH� 7LWOH� 6WDWXV

&ULWHULD� 5DLVH 8VHU LV &XUUHQW 8VHU

66 0\ 2SHQ ,QFLGHQWV3XUSRVH� /LVWV DOO RSHQ LQFLGHQWV ORJJHG E\ WKH FXUUHQW XVHU� ,QWHQGHG IRU XVH ZLWK 6HOI

6HUYLFH�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU� &UHDWLRQ 'DWH� 7LWOH� 6WDWXV

&ULWHULD� 5DLVH 8VHU LV &XUUHQW 8VHU$1' 6WDWXV LV QRW DQ (QG VWDWXV$1'�6WDWXV LV QRW D &RPSOHWLRQ VWDWXV

66 0\ 5HVROYHG ,QFLGHQWV3XUSRVH� /LVWV DOO UHVROYHG LQFLGHQWV ORJJHG E\ WKH FXUUHQW XVHU� ,QWHQGHG IRU XVH ZLWK

6HOI 6HUYLFH�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU� &UHDWLRQ 'DWH� 7LWOH� 6WDWXV

&ULWHULD� 5DLVH 8VHU LV &XUUHQW 8VHU$1'�6WDWXV LV D &RPSOHWLRQ VWDWXV

66 0\ 8QDQVZHUHG 4XHVWLRQV3XUSRVH� /LVWV DOO LQFLGHQWV ORJJHG E\ WKH FXUUHQW XVHU WKDW KDYH WKH FDWHJRU\ RI

4XHVWLRQ WKDW DUH QRW FORVHG� ,QWHQGHG IRU XVH ZLWK 6HOI 6HUYLFH�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� &UHDWLRQ 'DWH� 'HVFULSWLRQ

&ULWHULD� 5DLVH 8VHU LV &XUUHQW 8VHU$1' &DWHJRU\ LV HTXDO WR 4XHVWLRQ$1' 6WDWXV LV QRW DQ (QG VWDWXV

��

Page 52: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

66 2SHQ ,QFLGHQWV3XUSRVH� /LVWV DOO LQFLGHQWV DW WKH 2SHQ VWDWXV� ,QWHQGHG IRU XVH ZLWK 6HOI 6HUYLFH�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU� &UHDWLRQ 'DWH� &DWHJRU\� 7LWOH

&ULWHULD� 6WDWXV LV HTXDO WR 2SHQ

66 5HFHQWO\ $VNHG 4XHVWLRQV3XUSRVH� /LVWV DOO LQFLGHQWV ORJJHG E\ WKH FXUUHQW XVHU WKDW KDYH WKH FDWHJRU\ RI

4XHVWLRQ� JURXSHG E\ &UHDWLRQ 'DWH� ,QWHQGHG IRU XVH ZLWK 6HOI 6HUYLFH�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� &UHDWLRQ 'DWH� 'HVFULSWLRQ

&ULWHULD� &DWHJRU\ LV HTXDO WR 4XHVWLRQ

8QUHVROYHG ,QFLGHQWV3XUSRVH� /LVWV LQFLGHQWV WKDW KDYH WKH 8QUHVROYHG IODJ VHW� XVHG LQ WKH )XOO ,QFLGHQW

SURFHVV �VHH ,QFLGHQW 0DQDJHPHQW� )XOO ,QFLGHQW RQ SDJH ����

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,'�7LWOH� &UHDWLRQ 'DWH� $VVLJQHG $QDO\VW� 8VHU� 5HVSRQVH /HYHO� 6WDWXV

&ULWHULD� 8QUHVROYHG LV HTXDO WR 7UXH

5HVSRQVH OHYHOV7KH IROORZLQJ UHVSRQVH OHYHOV DUH LQFOXGHG IRU WKH ,QFLGHQW 0DQDJHPHQW PRGXOH RI WKH RXW RI WKH ER[GDWDEDVH�

z 3ULRULW\ � � � KRXUV WXUQDURXQG WLPHz 3ULRULW\ � � � KRXUV WXUQDURXQG WLPHz 3ULRULW\ � � �� KRXUV WXUQDURXQG WLPHz 3ULRULW\ � � �� KRXUV WXUQDURXQG WLPHz 3ULRULW\ � � �� KRXUV WXUQDURXQG WLPH

<RX FDQ VHOHFW WKHVH GLUHFWO\ RQ WKH ,QFLGHQW ZLQGRZ� (DFK RI WKHVH UHVSRQVH OHYHOV KDV D VLQJOH HVFDODWLRQWKDW WUDFNV WKH LQFLGHQW IURP WKH 2SHQ VWDWXV WR WKH 5HVROYHG VWDWXV� 7KH HVFDODWLRQ DFWLRQV IRU WKLVHVFDODWLRQ DUH WKH VDPH IRU HDFK UHVSRQVH OHYHO�

z ��� � FKDQJH FRORU WR F\DQz ��� � FKDQJH FRORU WR OLJKW JUHHQz ��� � FKDQJH FRORU WR RUDQJHz ��� � FKDQJH FRORU WR UHGz ���� � FKDQJH FRORU WR SXUSOH DQG QRWLI\ WKH +HOS 'HVN JURXS

��

Page 53: Hdi Capital Area September 2014 Meeting Slides

,1&,'(170$1$*(0(17

&DWHJRULHV7KH IROORZLQJ FDWHJRULHV DUH LQFOXGHG LQ WKH RXW RI WKH ER[ GDWDEDVH�

&DWHJRU\

+DUGZDUH&KDQJH 7RQHU(TXLSPHQW 5HTXHVW

4XHVWLRQ6RIWZDUH

(PDLO ,VVXH3DVVZRUG 5HVHW5HVRXUFH $FFHVV

1RWH &DWHJRU\

&DOOHG 8VHU3URJUHVV 8SGDWH� 'HOD\HG3URJUHVV 8SGDWH� ,Q 3URJUHVV8VHU 1RW 7KHUH

8VHU &DOOHG&RPSODLQHG8VHU 5HVROYHG

2UGHUHG OLVWV7KH IROORZLQJ RUGHUHG OLVWV DUH LQFOXGHG LQ WKH RXW RI WKH ER[ GDWDEDVH�

6HYHULW\

+LJK0HGLXP/RZ

,PSDFW

,QFLGHQW 8UJHQF\

5HIHUHQFH OLVWV7KH IROORZLQJ ,QFLGHQW 0DQDJHPHQW UHIHUHQFH OLVWV DUH LQFOXGHG LQ WKH RXW RI WKH ER[ GDWDEDVH�

,QFLGHQW 6RXUFH$OHUW(PDLO3KRQH6HOI 6HUYLFH

6HUYLFH

��

Page 54: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

,QFLGHQW WHPSODWHV7KH IROORZLQJ WHPSODWHV DUH LQFOXGHG LQ WKH ,QFLGHQW 0DQDJHPHQW PRGXOH RI WKH RXW RI WKH ER[ GDWDEDVH�

z &KDQJH 7RQHUz (PDLO LVVXHz (TXLSPHQW 5HTXHVWz 3DVVZRUG 5HVHWz 5HVRXUFH $FFHVV

<RX FDQ PRGLI\ WKHP XVLQJ WKH 7HPSODWH 'HVLJQHU FRPSRQHQW�

��

Page 55: Hdi Capital Area September 2014 Meeting Slides

,1&,'(170$1$*(0(17

:LQGRZ YLHZV7KLV VHFWLRQ GHVFULEHV WKH ZLQGRZ YLHZV WKDW DUH DVVRFLDWHG ZLWK WKH ,QFLGHQW 0DQDJHPHQW PRGXOH� <RX ZLOO QHHG WR FRQILJXUH DSSURSULDWH 9LHZ6HOHFWLRQ 5XOHV WR XVH WKHVH ZLQGRZ YLHZV�

127(� )RU PRUH LQIRUPDWLRQ DERXW ZLQGRZ YLHZV� VHH WKH:LQGRZ 0DQDJHU FKDSWHU RI WKH /$1'(6. 6HUYLFH 'HVN 'HVLJQHU *XLGH�

'HIDXOW127(� 1R YDOXH LV VSHFLILHG IRU *ULG )RUP�

,QFLGHQW 0DQDJHPHQW�,QFLGHQW

,QGH[ 3URFHVV $FWLRQ 2EMHFW 6WDWH :LQGRZ� )XOO ,QFLGHQW &RPSOHWH 0DQGDWRU\ 'DWD $Q\ 0DQGDWRU\ )LHOGV

��

Page 56: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

��

Page 57: Hdi Capital Area September 2014 Meeting Slides

3UREOHP PDQDJHPHQW<RX FDQ ILQG RXW DERXW�

� 3URFHVVHV RQ SDJH ��� 5HSRUWV RQ SDJH ��� 4XHULHV RQ SDJH ��� &DWHJRULHV RQ SDJH ��� 2UGHUHG OLVWV RQ SDJH ��

Page 58: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

3URFHVVHV3UREOHP 0DQDJHPHQW� 6LPSOH 3UREOHP7KH 3UREOHP 0DQDJHPHQW SURFHVV HQDEOHV \RX WR GHWHFW� UHVROYH DQG SUHYHQW WKH XQGHUO\LQJ FDXVHV RI DQ,QFLGHQW RU 3UREOHP LQ RUGHU WR PLQLPL]H WKH LPSDFW RQ WKH EXVLQHVV DQG SUHYHQW WKH LVVXH� RU UHODWHGLVVXHV� UHFXUULQJ�

:KHQ D SUREOHP LV VXFFHVVIXOO\ GLDJQRVHG DQG D ZRUN DURXQG LV HVWDEOLVKHG� WKHQ LW EHFRPHV D .QRZQ(UURU� DQG DQ DQDO\VW FDQ SXW LQ D 5HTXHVW IRU &KDQJH� )ROORZLQJ VXFFHVVIXO UHVROXWLRQ� WKH SUREOHP LVFORVHG� 7KH SUREOHP DQG LWV VROXWLRQ DUH PDGH DYDLODEOH LQ $FWLYH .QRZOHGJH VR WKDW DQDO\VWV FDQ UHIHU WR LWLI QHFHVVDU\�

$W DOO WLPHV WKURXJKRXW WKH SUREOHP SURFHVV� WUDFNLQJ DQGPRQLWRULQJ RI DOO SUREOHPV LV WDNLQJ SODFH�

��

Page 59: Hdi Capital Area September 2014 Meeting Slides

352%/(0 0$1$*(0(17

2SWLRQDO DFWLRQV IRU HDFK VWDWXV�

6WDWXV 2SWLRQDO DFWLRQV2SHQ $GG $VVLJQPHQW

$GG $WWDFKPHQW$GG &KDQJH$GG &KLOG 3UREOHP$GG ,QFLGHQW$GG /LQNHG .QRZOHGJH$GG 1RWH$GG 3DUHQW 3UREOHP$GG 5HPLQGHU$GG 7DVN&UHDWH &KDQJH&UHDWH &KLOG 3UREOHP&UHDWH (VFDODWLRQ 3RLQW&UHDWH ,QFLGHQW'HWDFK &KDQJH'HWDFK &KLOG 3UREOHP'HWDFK ,QFLGHQW'HWDFK /LQNHG .QRZOHGJH6WDUW &ORFN6WRS &ORFN

'LDJQRVLQJ $GG $VVLJQPHQW$GG $WWDFKPHQW$GG 1RWH

.QRZQ (UURU 5HTXHVWLQJ&KDQJH

$GG $VVLJQPHQW$GG $WWDFKPHQW$GG 1RWH

5HVROYHG $GG $WWDFKPHQW

&ORVHG 1RQH

127(� 7KH DFWLRQV WKDW FUHDWH OLQNHG SURFHVVHV �IRU H[DPSOH� &UHDWH &KDQJH� ZLOO EH DYDLODEOH DW UXQWLPH RQO\ LIWKH OLQNHG SURFHVV WKDW LV VSHFLILHG KDV EHHQ DFWLYDWHG�

3UREOHP 0DQDJHPHQW� 7DVN,I D 3UREOHP LQFRUSRUDWHV D QXPEHU RI DFWLYLWLHV� WKHQ \RX FDQ VXEGLYLGH LW XVLQJ RQH RU PRUH 7DVNV� <RXFDQ DGG 7DVNV DV 2SWLRQDO $FWLRQ ,QVWDQFHV WR WKH 3UREOHP SURFHVV LI QHHGHG�

��

Page 60: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

2SWLRQDO DFWLRQV IRU HDFK VWDWXV�

6WDWXV 2SWLRQDO DFWLRQV

2SHQ $GG $VVLJQPHQW

$GG 1RWH

$GG 5HPLQGHU

6WDUW &ORFN

6WRS &ORFN

&RPSOHWHG 1RQH

5HSRUWV3UREOHP 5HSRUW)LOH QDPH� 3UREOHP�USW

3XUSRVH� 8VHG WR FUHDWH WKH UHSRUW WKDW LV GLVSOD\HGZKHQ \RX FOLFN WKH SULQW EXWWRQ RQD 3UREOHP

3DUDPHWHUV� *XLG

)LHOGV GLVSOD\HG� /RJJHG %\� 6HYHULW\� 6WDWXV� %UHDFKHG� /RJJHG 'DWH� $VVLJQHG *URXS�$VVLJQHG $QDO\VW� &DWHJRU\� 6XPPDU\ DQG 1RWHV

3UREOHPV &UHDWHG LQ 0RQWK E\ $VVLJQHH)LOH QDPH� 2SHQ3UREOHPV%\0RQWK�USW

3XUSRVH� 7R GLVSOD\ DOO WKH RSHQ SUREOHPV IRU D VSHFLILHGPRQWK�

3DUDPHWHUV� 0RQWK� <HDU

)LHOGV GLVSOD\HG� *URXSHG %\ $VVLJQHG *URXS DQG WKHQ $VVLJQHH� ,W WKHQ GLVSOD\V� 3HUFHQWDOUHDG\ UHVROYHG� ,'� 6HYHULW\� %UHDFKHG DQG 'HVFULSWLRQ�

4XHULHV127(� ,Q DGGLWLRQ WR WKH TXHULHV GHVFULEHG EHORZ� WKHUH DUH GHIDXOW TXHULHV IRU WKH PDLQ REMHFWV LQ WKH 3UREOHP0DQDJHPHQW PRGXOH� 7KHVH GHIDXOW TXHULHV KDYH QDPHV RI WKH IRUP 3UREOHP � �REMHFW!� DQG GLVSOD\ WKH 7LWOH�RU 6XPPDU\�� &UHDWHG E\� DQG &UHDWHG GDWH ILHOGV� 7KH\ KDYH QR FULWHULD VSHFLILHG� 'HIDXOW TXHULHV WKDW GLIIHUVLJQLILFDQWO\ IURP WKLV DUH DOVR LQFOXGHG EHORZ�

$FWLYH 3UREOHPV3XUSRVH� /LVWV DOO SUREOHPV QRW DW DQ HQG VWDWXV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU� &UHDWLRQ 'DWH� 7LWOH� 6WDWXV� &XUUHQW $VVLJQHG *URXS�&XUUHQW $VVLJQHG $QDO\VW

&ULWHULD� 6WDWXV�,V (QG LV HTXDO WR IDOVH

��

Page 61: Hdi Capital Area September 2014 Meeting Slides

352%/(0 0$1$*(0(17

$OO 3UREOHPV3XUSRVH� /LVWV DOO SUREOHPV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,'� 7LWOH� &UHDWLRQ 'DWH� 6WDWXV� 8VHU� /LIHF\FOH

&ULWHULD� 1RQH

3UREOHP ± &DXVHV3XUSRVH� 'HIDXOW TXHU\ IRU 3UREOHP &DXVHV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7LWOH

&ULWHULD� 1RQH

3UREOHP ± (VFDODWLRQ 3RLQWV3XUSRVH� 'HIDXOW TXHU\ IRU 3UREOHP (VFDODWLRQ 3RLQWV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7LWOH� &UHDWHG E\� ([SLU\ 'DWH� ,V %UHDFK� &UHDWHG GDWH

&ULWHULD� 1RQH

3UREOHP ± 5HPLQGHUV3XUSRVH� 'HIDXOW TXHU\ IRU 3UREOHP 5HPLQGHUV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 6XEMHFW� 6HQG GDWH

&ULWHULD� 1RQH

3UREOHP ± 7DVN $VVLJQPHQWV3XUSRVH� 'HIDXOW TXHU\ IRU 3UREOHP 7DVN $VVLJQPHQWV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7LWOH� &UHDWHG E\� 8VHU DVVLJQHG WR� *URXS DVVLJQHG WR� $VVLJQPHQW GDWH

&ULWHULD� 1RQH

��

Page 62: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

3UREOHP ± 7DVN 5HPLQGHUV3XUSRVH� 'HIDXOW TXHU\ IRU 3UREOHP 7DVN 5HPLQGHUV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 6XEMHFW� 6HQG GDWH

&ULWHULD� 1RQH

3UREOHPV $ZDLWLQJ &KDQJH3XUSRVH� /LVWV RSHQ 3UREOHPV WKDW KDYH OLQNHG &KDQJHV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU� 7LWOH� &UHDWHG GDWH� 6WDWXV� *URXS DVVLJQHG WR� $QDO\VWDVVLJQHG WR

&ULWHULD� 6WDWXV�,V (QG LV HTXDO WR IDOVH&KDQJHV�&KDQJH�,G LV QRW QXOO

3UREOHPV %\ 6WDWXV3XUSRVH� /LVWV RSHQ 3UREOHPV VRUWHG E\ 6WDWXV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU� 7LWOH� &UHDWHG GDWH� 6WDWXV� *URXS DVVLJQHG WR� $QDO\VWDVVLJQHG WR

&ULWHULD� 6WDWXV�,V (QG LV HTXDO WR IDOVH

&DWHJRULHV7KH IROORZLQJ FDWHJRULHV DUH LQFOXGHG LQ WKH RXW RI WKH ER[ GDWDEDVH�

&DWHJRU\

+DUGZDUH6RIWZDUH

2UGHUHG OLVWV7KH IROORZLQJ RUGHUHG OLVWV DUH LQFOXGHG LQ WKH RXW RI WKH ER[ GDWDEDVH�

6HYHULW\

0DMRU0LQRU

��

Page 63: Hdi Capital Area September 2014 Meeting Slides

&KDQJH PDQDJHPHQW<RX FDQ ILQG RXW DERXW�

� 3URFHVVHV RQ SDJH ��� 5HSRUWV RQ SDJH ��� 4XHULHV RQ SDJH ��� &DWHJRULHV RQ SDJH ��� 2UGHUHG OLVWV RQ SDJH ��� 5HIHUHQFH OLVWV RQ SDJH ��

Page 64: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

3URFHVVHV&KDQJH 0DQDJHPHQW� $VVHW 'LVSRVDO�5HPRYDO7KH $VVHW 'LVSRVDO�5HPRYDO SURFHVV KHOSV \RX WRPDQDJH WKH GLVSRVDO RU UHPRYDO RI DQ DVVHW� 7KH GLVSRVDOSDUW RI WKH SURFHVV KHOSV \RX WRPDQDJH WKH GLVSRVDO RI DVVHWV IURP \RXU RUJDQL]DWLRQ LQ D PDQQHU WKDW FDQEH DXGLWHG E\ UHJXODWRU\ ERGLHV� 7KH UHPRYDO SDUW RI WKH SURFHVV KHOSV \RX WRPDQDJH WKH UHPRYDO RIDVVHWV IURP \RXU LQYHQWRU\ LQWR VWRUDJH DKHDG RI SRVVLEOH GLVSRVDO RU UH�SXUSRVLQJ�

��

Page 65: Hdi Capital Area September 2014 Meeting Slides

&+$1*( 0$1$*(0(17

7KHUH DUH WKUHH PDLQ VHFWLRQV WR WKLV SURFHVV�

7KH ILUVW VHFWLRQ RI WKH SURFHVVHQDEOHV \RX WR ORJ WKHGLVSRVDO�UHPRYDO UHTXHVW DQGVSHFLI\ WKH W\SH RI UHTXHVW�

7KH VHFRQG VHFWLRQ PDQDJHV WKHGLVSRVDO RI WKH DVVHW�

7KH ILQDO VHFWLRQ PDQDJHVWKH UHPRYDO RI WKH DVVHW�

/RJJLQJ WKH GLVSRVDO�UHPRYDO UHTXHVW

:KHQ \RX ILUVW ORJ D QHZ GLVSRVDO�UHPRYDO UHTXHVW� \RX DUH DVNHG WR SURYLGH FHUWDLQ LQIRUPDWLRQ DERXW WKHDVVHW� VXFK DV WKH LWHPV DIIHFWHG DQGZKHWKHU WKH UHTXHVW LV IRU D GLVSRVDO RU D UHPRYDO�

,I WKH UHTXHVW LV D GLVSRVDO UHTXHVW� PDNH VXUH \RX VHOHFW WKH ,V WKLV D 'LVSRVDO 5HTXHVW" FKHFN ER[EHIRUH VDYLQJ WKH SURFHVV� $IWHU WKH SURFHVV KDV EHHQ VDYHG� WKLV FKHFN ER[ EHFRPHV UHDG RQO\�

��

Page 66: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

,I RQO\ RQH LWHP LV EHLQJ GLVSRVHG RI RU UHPRYHG� \RX FDQ VHOHFW WKH LWHP LQ WKH $IIHFWHG ,WHP OLVW� 7KLV OLVWLV SRSXODWHG ZLWK &RQILJXUDWLRQ ,WHPV� )RU LQIRUPDWLRQ DERXW PDQDJLQJ &RQILJXUDWLRQ ,WHPV� VHH WKH/$1'(6. 6HUYLFH 'HVN $GPLQLVWUDWRU JXLGH�

,I PRUH WKDQ RQH LWHP LV EHLQJ GLVSRVHG RI RU UHPRYHG� VDYH WKH $VVHW 'LVSRVDO�5HPRYDO� WKHQ XVH WKH $GG&RQILJXUDWLRQ ,WHP DFWLRQ WR DGG WKH &,V� ,WHPV DGGHG LQ WKLV ZD\ DSSHDU RQ WKH &KDQJH 7UHH�

7KH SURFHVV QRZ PRYHV HLWKHU WR WKH GLVSRVLQJ RU UHPRYLQJ DQ DVVHW VWDJH� GHSHQGLQJ RQ WKH YDOXH RI WKH,V WKLV D 'LVSRVDO 5HTXHVW" FKHFN ER[�

'LVSRVLQJ RI DQ DVVHW

,I \RX VHOHFWHG WKH ,V WKLV D 'LVSRVDO 5HTXHVW" FKHFN ER[ RQ WKH $VVHW 'LVSRVDO�5HPRYDO ZLQGRZ� WKHSURFHVV PRYHV WR WKH GLVSRVDO SDUW RI WKH SURFHVV�

$ 'LVSRVDO $SSURYDO WDVN LV DGGHG WR WKH SURFHVV� DQG DVVLJQHG WR WKH $VVHW 0DQDJHPHQW JURXS�

<RX RSHQ WKH 'LVSRVDO $SSURYDO WDVN IURP WKH &KDQJH 7UHH� <RX FDQ WKHQ HLWKHU $SSURYH RU 5HMHFW WKHUHTXHVW� ,I WKH $VVHW 0DQDJHPHQW JURXS UHMHFWV WKH UHTXHVW� WKH &KDQJH LV FORVHG ZLWK D VWDWXV RI'LVSRVDO 5HMHFWHG� ,I WKH UHTXHVW LV DSSURYHG� WKH &KDQJHPRYHV WR WKH QH[W VWDJH RI WKH SURFHVV� ,QERWK FDVHV� WKH &KDQJH $VVLJQHH LV QRWLILHG�

:KHQ WKH GLVSRVDO KDV EHHQ DSSURYHG� \RX FDQ DGG D 'LVSRVDO 3ODQ� ZKHUH \RX UHFRUG GHWDLOV RI KRZ \RXDUH GLVSRVLQJ RI WKH LWHP� \RX FDQ DWWDFK DQ H[WHUQDO GRFXPHQW LI UHTXLUHG�

$W WKLV VWDJH� \RX FDQ DGG IXUWKHU 7DVNV� %\ GHIDXOW� WKHVH DUH WKH VWDQGDUG &KDQJH 7DVNV WKDW DUHGHVFULEHG LQ &KDQJH 0DQDJHPHQW� 6LPSOH 7DVN RQ SDJH ���

:KHQ DOO RI WKHVH 7DVNV DUH FRPSOHWHG� \RX FDQ &ORVH WKH GLVSRVDO�UHPRYDO UHTXHVW� 7KH VWDWXV FKDQJHV WR'LVSRVDO &RPSOHWH�

��

Page 67: Hdi Capital Area September 2014 Meeting Slides

&+$1*( 0$1$*(0(17

5HPRYLQJ DQ DVVHW

,I \RX GLG QRW VHOHFW WKH ,V WKLV D 'LVSRVDO 5HTXHVW" FKHFN ER[ RQ WKH $VVHW 'LVSRVDO�5HPRYDO ZLQGRZ�WKH SURFHVV PRYHV WR WKH UHPRYDO SDUW RI WKH SURFHVV�

<RX SURJUHVV WKH UHPRYDO UHTXHVW E\ FOLFNLQJ&UHDWH &KLOG &KDQJH LQ WKH $FWLRQV OLVW� %\ GHIDXOW� WKLV LVWKH 6LPSOH &KDQJH WKDW LV GHVFULEHG LQ &KDQJH 0DQDJHPHQW� 6LPSOH &KDQJH RQ SDJH ���

127(� 0DNH VXUH WKDW WKH OLQNHG SURFHVV WKDW LV VSHFLILHG KDV EHHQ DFWLYDWHG� RWKHUZLVH WKH &UHDWH &KLOG &KDQJHDFWLRQ ZLOO QRW DSSHDU DW UXQWLPH�

:KHQ WKH &KLOG &KDQJH LV FRPSOHWHG� \RX FDQ &ORVH WKH GLVSRVDO�UHPRYDO UHTXHVW� 7KH VWDWXV FKDQJHV WR5HPRYDO &RPSOHWH�

��

Page 68: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

&KDQJH 0DQDJHPHQW� $VVHW 3URFXUHPHQW7KH $VVHW 3URFXUHPHQW SURFHVV KHOSV \RX WRPDQDJH WKH SURFXUHPHQW RI DQ DVVHW�

��

Page 69: Hdi Capital Area September 2014 Meeting Slides

&+$1*( 0$1$*(0(17

7KHUH DUH WKUHH PDLQ VHFWLRQV WR WKLV SURFHVV�

7KH ILUVW VHFWLRQ RI WKH SURFHVVHQDEOHV \RX WR ORJ WKHSURFXUHPHQW UHTXHVW DQG JDLQ DQLQLWLDO DSSURYDO�

7KH VHFRQG VHFWLRQ PDQDJHV WKHDFTXLVLWLRQ RI WKH DVVHW�

7KH ILQDO VHFWLRQ PDQDJHV WKHFRQILJXUDWLRQ RI WKH DVVHW�

/RJJLQJ WKH SURFXUHPHQW UHTXHVW

:KHQ \RX ILUVW ORJ D QHZ SURFXUHPHQW UHTXHVW� \RX DUH DVNHG WR SURYLGH FHUWDLQ LQIRUPDWLRQ DERXW WKHDVVHW \RX ZDQW WR SURFXUH� VXFK DV WKH LWHP UHTXLUHG DQG WKH UHDVRQ IRU WKH UHTXHVW�

��

Page 70: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

:KHQ WKH SURFXUHPHQW UHTXHVW LV VDYHG� D 3URFXUHPHQW 5HTXHVW $SSURYDO WDVN LV FUHDWHG WKDW LVDXWRPDWLFDOO\ DVVLJQHG WR WKH OLQH PDQDJHU RI WKH XVHU ZKR UDLVHG WKH UHTXHVW�

<RX RSHQ WKH 3URFXUHPHQW 5HTXHVW $SSURYDO WDVN IURP WKH &KDQJH 7UHH IRU WKH SURFXUHPHQW UHTXHVW� 7KH/LQH 0DQDJHU FDQ WKHQ HLWKHU $SSURYH RU 5HMHFW WKH UHTXHVW� ,I WKH /LQH 0DQDJHU UHMHFWV WKH UHTXHVW� WKH&KDQJH LV FORVHG DQG WKH &KDQJH $VVLJQHH DQG2ULJLQDWRU DUH LQIRUPHG� ,I WKH /LQH 0DQDJHU DSSURYHV WKHUHTXHVW� WKH &KDQJHPRYHV WR WKH QH[W VWDJH RI WKH SURFHVV�

$FTXLULQJ WKH DVVHW

$IWHU WKH SURFXUHPHQW UHTXHVW KDV EHHQ DSSURYHG� \RX FDQ DFTXLUH WKH DVVHW�

,I WKH LWHP LV DOUHDG\ LQ VWRFN� FOLFN WKH ,WHP LQ 6WRFN DFWLRQ WR E\SDVV WKH SXUFKDVLQJ VWDJH DQGPRYHGLUHFWO\ WR FRQILJXULQJ WKH DVVHW�

,I WKH LWHP LV QRW LQ VWRFN� \RX QHHG WR EX\ LW� 7KH ILUVW VWHS RI WKLV LV WR UHFRUG WKH GHWDLOV RI DQ\ TXRWHV \RXKDYH IRU SXUFKDVLQJ WKH DVVHW�

7KH 4XRWH ZLQGRZ HQDEOHV \RX WR UHFRUG GHWDLOV RI D TXRWH IURP D VXSSOLHU� 7KH4XRWH 2EWDLQHG )URP OLVWFRQWDLQV YDOXHV IURP WKH 6XSSOLHU JURXS LQ WKH 8VHU 0DQDJHPHQW WUHH RI WKH $GPLQLVWUDWLRQ FRPSRQHQW�

<RX FDQ DFFHVV WKH TXRWHV WKDW KDYH EHHQ DGGHG WR WKH SURFXUHPHQW UHTXHVW IURP WKH &KDQJH 7UHH�

��

Page 71: Hdi Capital Area September 2014 Meeting Slides

&+$1*( 0$1$*(0(17

:KHQ \RX KDYH D TXRWH WKDW \RX DUH KDSS\ ZLWK� \RX FDQ UDLVH D 3XUFKDVH 5HTXHVW� 5DLVLQJ D 3XUFKDVH5HTXHVW FUHDWHV D QHZ WDVN ± WKH 3XUFKDVH 5HTXHVW $SSURYDO ± WKDW PXVW EH FRPSOHWHG EHIRUH WKH3URFXUHPHQW 5HTXHVW FDQ SURJUHVV� 7KH 3XUFKDVH 5HTXHVW $SSURYDO WDVN LV DVVLJQHG DV \RX VHW LW XSHDUOLHU� 7KH 3XUFKDVH 5HTXHVW FDQ HLWKHU EH UHMHFWHG RU DSSURYHG�

,I WKH 3XUFKDVH 5HTXHVW LV��� WKHQ���5HMHFWHG� WKH &KDQJH $VVLJQHH LV QRWLILHG DQG WKH 3URFXUHPHQW 5HTXHVW

UHWXUQV WR WKH 4XRWH 2EWDLQHG VWDWXV� VR WKDW QHZ TXRWHV FDQ EHREWDLQHG�

$SSURYHG� WKH &KDQJH $VVLJQHH LV QRWLILHG� DQG D 3XUFKDVH 2UGHU FDQ EHUDLVHG�

7KH 5DLVH 3XUFKDVH 2UGHU ZLQGRZ HQDEOHV \RX WR UHFRUG WKH 3XUFKDVH 2UGHU QXPEHU� DQG DWWDFK WKH3XUFKDVH 2UGHU�

$IWHU WKH 3XUFKDVH 2UGHU KDV EHHQ UDLVHG� WKH QH[W VWHS LV WR FRQILUP WKH GHOLYHU\ RI WKH DVVHW� :KHQ WKHDVVHW KDV DUULYHG� \RX FDQ SURJUHVV WR FRQILJXULQJ WKH DVVHW�

&RQILJXULQJ WKH DVVHW

6RPH DVVHWV QHHG QR FRQILJXUDWLRQ DIWHU WKH\ KDYH EHHQ DFTXLUHG� LQ ZKLFK FDVH WKH 3URFXUHPHQW SURFHVVFDQ EH FRPSOHWHG XVLQJ WKH &RQILUP DQG &ORVH DFWLRQ GLUHFWO\� 7KLV ILQDO VWDJH HQDEOHV \RX WR UHFRUG DQ\ILQDO LQIRUPDWLRQ DERXW WKH SURFXUHPHQW�

2WKHU DVVHWV� KRZHYHU� QHHG FRQILJXUDWLRQ EHIRUH WKH 3URFXUHPHQW SURFHVV FDQ EH FRPSOHWHG�

,I WKH DVVHW QHHGV FRQILJXUDWLRQ DQGZDV DQ LWHP LQ VWRFN� FOLFN WKH &RQILJXUDWLRQ 5HTXLUHG DFWLRQ� LI WKHDVVHW ZDV SXUFKDVHG� VHOHFW WKH &RQILJXUDWLRQ 5HTXLUHG" FKHFN ER[ RQ WKH &RQILUP 'HOLYHU\ ZLQGRZ�%RWK RI WKHVH HYHQWV DGG DQ $VVHW &RQILJXUDWLRQ 7DVN WKDW PXVW EH FRPSOHWHG EHIRUH \RX FDQ FRPSOHWH WKH3URFXUHPHQW SURFHVV XVLQJ WKH &RQILUP DQG &ORVH DFWLRQ�

7KH $VVHW &RQILJXUDWLRQ 7DVN LV DVVLJQHG WR WKH $VVHW &RQILJXUDWLRQ JURXS�

:KHQ WKH FRQILJXUDWLRQ RI WKH DVVHW LV FRPSOHWHG� D PHPEHU RI WKH $VVHW &RQILJXUDWLRQ JURXS RSHQV WKH$VVHW &RQILJXUDWLRQ 7DVN IURP WKH &KDQJH 7UHH DQG FOLFNV &RPSOHWH�

��

Page 72: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

:KHQ WKH $VVHW &RQILJXUDWLRQ 7DVN LV FRPSOHWHG� WKH &RQILUP DQG &ORVH DFWLRQ EHFRPHV DYDLODEOH VRWKDW \RX FDQ FRPSOHWH WKH 3URFXUHPHQW SURFHVV�

&KDQJH 0DQDJHPHQW� &KDQJH7KH &KDQJH SURFHVV LV D PRUH FRPSUHKHQVLYH YHUVLRQ RI WKH 6LPSOH &KDQJH SURFHVV� ZKLFK ZDV H[SODLQHGDW WKH EHJLQQLQJ RI WKH FKDSWHU� 8VLQJ WKH &KDQJH SURFHVV SURYLGHV D PRUH WKRURXJK LPSOHPHQWDWLRQ RIFKDQJHV LQ \RXU RUJDQL]DWLRQ�

8VLQJ WKH &KDQJH SURFHVV� HDFK FKDQJH FUHDWHG LV DVVLJQHG WR D &KDQJH 0DQDJHU� ZKR LV UHVSRQVLEOH IRUPRQLWRULQJ DQG DGYDQFLQJ WKH FKDQJH WKURXJK YDULRXV VWDJHV LQ WKH SURFHVV�

:KHQ D QHZ FKDQJH LV VXEPLWWHG� LW LV DVVLJQHG WR WKH &KDQJH 0DQDJHU IRU DQ LQLWLDO DVVHVVPHQW� 7KH&KDQJH 0DQDJHU YHULILHV LW LV D YDOLG VXEPLVVLRQ DQG WKDW VXIILFLHQW LQIRUPDWLRQ LV FRQWDLQHGZLWKLQ WKHFKDQJH GHWDLOV EHIRUH DSSURYLQJ LW� ,I WKH FKDQJH LV PDUNHG DV D µ0DMRU &KDQJH¶ WKHQ LW PXVW EH DSSURYHG E\WKH &KDQJH $GYLVRU\ %RDUG� EHIRUH GHYHORSPHQW FDQ FRPPHQFH�

$IWHU GHYHORSPHQW LV FRPSOHWH� WKH FKDQJH LV UHWXUQHG WR WKH &KDQJH 0DQDJHU� ZKR DSSURYHV WKH FKDQJHDQG LQLWLDWH D 8VHU $FFHSWDQFH 7HVW� WR YHULI\ WKH FKDQJH LV UHDG\ IRU LPSOHPHQWDWLRQ� :KHQ LPSOHPHQWHG�IHHGEDFN PXVW EH JLYHQ� VWDWLQJ ZKHWKHU WKH FKDQJH ZDV D VXFFHVV RU IDLOXUH� 7KLV LQIRUPDWLRQ LV SDVVHGEDFN WR WKH &KDQJH 0DQDJHU� ZKR WKHQ LQLWLDWHV D &KDQJH 5HYLHZ� 7KH FKDQJH PD\ EH UHVXEPLWWHG LILPSOHPHQWDWLRQ IDLOHG�

��

Page 73: Hdi Capital Area September 2014 Meeting Slides

&+$1*( 0$1$*(0(17

���FRQWLQXHG EHORZ���

���FRQWLQXHG EHORZ���

��

Page 74: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

7KH VWDWXVHV 2SHQ� &KDQJH 0DQDJHU ,PSOHPHQWDWLRQ $SSURYDO� ,PSOHPHQWDWLRQ� )DLOHG &KDQJH� DQG&KDQJH 5HYLHZ KDYH WKH IROORZLQJ RSWLRQDO DFWLRQV�

z $GG $WWDFKPHQWz $GG &KDQJH 'HWDLOz $GG &KLOG &KDQJHz $GG ,QFLGHQWz $GG 1RWHz $GG 3DUHQW &KDQJHz $GG 3UREOHPz $GG 5HPLQGHUz 'HWDFK &KLOG &KDQJHz 'HWDFK ,QFLGHQWz 'HWDFK 3UREOHP

��

Page 75: Hdi Capital Area September 2014 Meeting Slides

&+$1*( 0$1$*(0(17

7KH VWDWXVHV &KDQJH 0DQDJHU $VVHVVPHQW� &KDQJH 0DQDJHU $SSURYDO� &KDQJH $GYLVRU\ %RDUG $SSURYDO�%XLOGLQJ &KDQJH� &KDQJH 0DQDJHU 8$7 $SSURYDO� DQG 8VHU $FFHSWDQFH 7HVWLQJ KDYH WKH DERYH RSWLRQDODFWLRQV� SOXV $GG 7DVN�

z $GG $WWDFKPHQWz $GG &KDQJH 'HWDLOz $GG &KLOG &KDQJHz $GG ,QFLGHQWz $GG 1RWHz $GG 3DUHQW &KDQJHz $GG 3UREOHPz $GG 5HPLQGHUz $GG 7DVNz 'HWDFK &KLOG &KDQJHz 'HWDFK ,QFLGHQWz 'HWDFK 3UREOHPz $GG $WWDFKPHQWz $GG &KDQJH 'HWDLOz $GG &KLOG &KDQJHz $GG ,QFLGHQWz $GG 1RWHz $GG 3DUHQW &KDQJHz $GG 3UREOHPz $GG 5HPLQGHUz $GG 7DVNz 'HWDFK &KLOG &KDQJHz 'HWDFK ,QFLGHQWz 'HWDFK 3UREOHP

7KH VWDWXVHV &ORVHG� &ORVHGZLWK ,QFLGHQW� DQG 5HMHFWHG KDYH QR RSWLRQDO DFWLRQV�

��

Page 76: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

&KDQJH 0DQDJHPHQW� 5HOHDVH 0DQDJHPHQW 3URFHVV7KH 5HOHDVH SURFHVV SURYLGHV D PHFKDQLVP IRU PDQDJLQJ WKH EXLOGLQJ� WHVWLQJ� DQG UHOHDVH RI D VHW RIFKDQJHV�

��

Page 77: Hdi Capital Area September 2014 Meeting Slides

&+$1*( 0$1$*(0(17

7KHUH DUH WKUHH PDLQ VHFWLRQV WR WKLV SURFHVV�

7KH ILUVW VWDJH RI WKHSURFHVV HQDEOHV \RX WRGHILQH WKH UHOHDVH� LQFOXGLQJDGGLQJ &KLOG &KDQJHV WR WKHUHOHDVH�

7KH UHOHDVH LV WKHQ EXLOWDQG WHVWHG�

)ROORZLQJ VXFFHVVIXOWHVWLQJ� WKH UHOHDVH LVUROOHG RXW WR WKHRUJDQL]DWLRQ�

'HILQLQJ WKH UHOHDVH

:KHQ \RX ILUVW ORJ D QHZ 5HOHDVH� \RX SURYLGH DQ RXWOLQH DQG GHVFULSWLRQ RI WKH UHOHDVH� WKH SURSRVHGUHOHDVH GDWH� DQG FDQ DWWDFK DQ\ H[LVWLQJ 5HOHDVH 3ODQ 'RFXPHQWDWLRQ�$W WKH ERWWRP RI WKH ZLQGRZ WKHUHDUH WZR WDEV� ZKLFK GLVSOD\ WKH UHVXOWV RI WKH TXHULHV5HOHDVHV 3ODQQHG )RU 7KLV 'D\� DQG5HOHDVH7HVWV VWLOO 2XWVWDQGLQJ� )RU PRUH LQIRUPDWLRQ DERXW WKHVH TXHULHV� VHH 4XHULHV RQ SDJH ���

7KH 5HOHDVH 'HWDLOV ZLQGRZ FRQWDLQV WZR OLVW ER[HV WKDW HQDEOH \RX WR VSHFLI\ WKH IRUP DQG W\SH RI WKHUHOHDVH� 7KHVH OLVW ER[HV DUH SRSXODWHG ZLWK YDOXHV IURP UHIHUHQFH OLVWV� )RU PRUH LQIRUPDWLRQ DERXW WKHVHUHIHUHQFH OLVWV� VHH 5HIHUHQFH OLVWV RQ SDJH ���

��

Page 78: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

8VH��� WR VSHFLI\ ZKHWKHU WKH UHOHDVH LV���

)RUP RI 5HOHDVH 0DMRU �FRQWDLQLQJ ODUJH DUHDV RI QHZ IXQFWLRQDOLW\� D 0DMRU 5HOHDVH XVXDOO\VXSHUVHGHV DOO SUHFHGLQJ0LQRU DQG (PHUJHQF\ 5HOHDVHV��0LQRU �FRQWDLQLQJ VPDOO HQKDQFHPHQWV DQG IL[HV� D 0LQRU 5HOHDVH XVXDOO\VXSHUVHGHV DOO SUHFHGLQJ (PHUJHQF\ 5HOHDVHV��(PHUJHQF\ �FRQWDLQLQJ IL[HV WR D VPDOO QXPEHU RI 3UREOHPV��

5HOHDVH 7\SH )XOO �DOO RI WKH FRPSRQHQWV RI WKH UHOHDVH DUH EXLOW� WHVWHG� GLVWULEXWHG DQGLPSOHPHQWHG WRJHWKHU��'HOWD �RQO\ WKRVH &,V WKDW KDYH DFWXDOO\ FKDQJHG VLQFH WKH SUHYLRXV UHOHDVH DUHLQFOXGHG��3DFNDJH �PXOWLSOH 5HOHDVHV WKDW DUH WR EH UROOHG RXW WRJHWKHU��

:KHQ \RX KDYH VDYHG WKH UHOHDVH� \RX FDQ DGG WKH QHFHVVDU\ &KDQJHV WR LW XVLQJ WKH $GG &KLOG &KDQJHDFWLRQ� &KLOG &KDQJHV WKDW \RX DGG WR WKH UHOHDVH LQ WKLV ZD\ DSSHDU LQ WKH &KDQJH 7UHH DV &KLOGUHQ�

%XLOGLQJ DQG WHVWLQJ WKH UHOHDVH

:KHQ \RX KDYH DGGHG WKH UHTXLUHG &KDQJHV WR WKH 5HOHDVH� \RX EXLOG� FRQILJXUH� DQG WKHQ WHVW WKH5HOHDVH�

7KH %XLOG DQG &RQILJXUH 5HOHDVH DFWLRQ HQDEOHV \RX WR DGG D GHVFULSWLRQ RI WKH EXLOG DQG FRQILJXUDWLRQ�:KHQ WKH EXLOG LV FRPSOHWH�%XLOG )DLOHG DQG%XLOG 6XFFHVVIXO DFWLRQV EHFRPH DYDLODEOH�

,I WKH EXLOG IDLOV� \RX FDQ HLWKHU FORVH WKH UHOHDVH� RU EXLOG DQG FRQILJXUH WKH UHOHDVH DJDLQ� ,I WKH EXLOG LVVXFFHVVIXO� LW EHFRPHV DYDLODEOH IRU WHVWLQJ�

:KHQ \RX KDYH D VXFFHVVIXO EXLOG� FOLFN WKH 3DVV )RU 7HVWLQJ DFWLRQ�

7KH 3DVV )RU 7HVWLQJ ZLQGRZ HQDEOHV \RX WR VSHFLI\ ZKLFK DQDO\VWV DQG�RU JURXSV DUH WR WHVW WKH EXLOG� DQGWKH W\SH RI WHVW WKDW LV UHTXLUHG� 7KH 7HVW 7\SH OLVW LV SRSXODWHG ZLWK YDOXHV IURP UHIHUHQFH OLVWV�

<RX FDQ XVH WKH 3DVV )RU 7HVWLQJ DFWLRQ PRUH WKDQ RQFH� WR HQDEOH IXUWKHU WHVWV DQG WHVWHUV WR EH DGGHG�$ 5HOHDVH 0DQDJHPHQW 7HVWLQJ 7DVN LV FUHDWHG HDFK WLPH WKH DFWLRQ LV XVHG� 7KH UHOHDVH FDQQRW SURJUHVVXQWLO DOO RI WKHVH 5HOHDVH 0DQDJHPHQW 7HVWLQJ 7DVNV DUH FRPSOHWHG�

<RX RSHQ WKH 5HOHDVH 0DQDJHPHQW 7HVWLQJ 7DVNV IURP WKH &KDQJH 7UHH IRU WKH 5HOHDVH� 7KH WDVNV FDQHLWKHU EH 3DVVHG RU )DLOHG�

,I WKH WHVWLQJ LV VXFFHVVIXO� WKH 5HOHDVH PRYHV WR WKH UROORXW VWDJH� LI WKH WHVWLQJ IDLOV� WKH 5HOHDVH FDQHLWKHU EH &ORVHG� RU� LI WKH IDLOXUHV DUH FRQVLGHUHG LQVLJQLILFDQW� FDQ VWLOO EH PRYHG WR WKH UROORXW VWDJH�

��

Page 79: Hdi Capital Area September 2014 Meeting Slides

&+$1*( 0$1$*(0(17

5ROOLQJ RXW WKH 5HOHDVH

:KHQ WKH 5HOHDVH KDV EHHQ VXFFHVVIXOO\ WHVWHG� \RX FDQ VWDUW WR UROO LW RXW�7KH 5HOHDVH 5ROO 2XW 3ODQ DFWLRQGLVSOD\V WKH 5HOHDVH 5ROO 2XW 3ODQ ZLQGRZ� ZKLFK GLVSOD\V WKH FXUUHQW 5HOHDVH 'HWDLOV ZLQGRZ� DQG HQDEOHV\RX WR UHFRUG WKH 5ROO 2XW 'DWH DQG WKH 5ROO 2XW DQG 5HOHDVH %DFN 2XW 3ODQV�

$IWHU \RX KDYH FRPSOHWHG WKH 5ROORXW� \RX FDQ FRPSOHWH WKH 5HOHDVH XVLQJ HLWKHU WKH 5ROO 2XW6XFFHVVIXO RU 5ROO 2XW )DLOHG DFWLRQV�

&KDQJH 0DQDJHPHQW� 6LPSOH &KDQJH7KH VLPSOH FKDQJH SURFHVV HQDEOHV \RX WR VWUXFWXUH KRZ FKDQJH RFFXUV ZLWKLQ \RXU RUJDQL]DWLRQ� LQ RUGHUWR PLQLPL]H WKH LPSDFW RI FKDQJH RQ WKH EXVLQHVV�

7KH ILUVW VWHS LQ WKH VLPSOH &KDQJH SURFHVV LV WR DGG D 7DVN �VHH ODWHU IRU WKH 7DVN SURFHVV�� :KHQ D 7DVNKDV EHHQ DGGHG� WKH &KDQJH FDQ HLWKHU EH DXWKRUL]HG RU UHMHFWHG�

,I WKH &KDQJH LV DXWKRUL]HG� LW LV WHVWHG DIWHU DOO RI WKH &KDQJH¶V 7DVNV KDYH EHHQ FRPSOHWHG� WKH &KDQJH LVWKHQ HLWKHU YHULILHG RU IDLOHG� DQG LW PRYHV WR WKH 7R &ORVH VWDWXV�

,I WKH &KDQJH LV UHMHFWHG� LW PRYHV GLUHFWO\ WR WKH 7R &ORVH VWDWXV IURP ZKHUH LW FDQ HLWKHU EH FORVHG� RUUHVXEPLWWHG HLWKHU DW D ODWHU GDWH RU DIWHU DGGLQJPRUH LQIRUPDWLRQ WR VXSSRUW WKH &KDQJH�

��

Page 80: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

��

Page 81: Hdi Capital Area September 2014 Meeting Slides

&+$1*( 0$1$*(0(17

2SWLRQDO DFWLRQV IRU HDFK VWDWXV�

6WDWXV 2SWLRQDO DFWLRQV

2SHQ $GG $WWDFKPHQW$GG &KLOG &KDQJH$GG &RQILJXUDWLRQ ,WHP$GG ,QFLGHQW$GG /LQNHG .QRZOHGJH$GG 1RWH$GG 3DUHQW &KDQJH$GG 3UREOHP$GG 5HPLQGHU$VVLJQ�5HDVVLJQ&UHDWH &KLOG &KDQJH&UHDWH (VFDODWLRQ 3RLQW&UHDWH ,QFLGHQW&UHDWH 3UREOHP'HWDFK &KLOG &KDQJH'HWDFK &RQILJXUDWLRQ ,WHP'HWDFK ,QFLGHQW'HWDFK /LQNHG .QRZOHGJH'HWDFK 3UREOHP6WDUW &ORFN6WRS &ORFN

7R $XWKRUL]H $GG $WWDFKPHQW$GG 1RWH

$XWKRUL]HG $GG $WWDFKPHQW$GG 1RWH

7R 9HULI\ $GG $WWDFKPHQW$GG 1RWH

7R &ORVH $GG $WWDFKPHQW

&ORVHG 1RQH

127(� 7KH DFWLRQV WKDW FUHDWH OLQNHG SURFHVVHV �IRU H[DPSOH� &UHDWH 3UREOHP� ZLOO EH DYDLODEOH DW UXQWLPH RQO\ LIWKH OLQNHG SURFHVV WKDW LV VSHFLILHG KDV EHHQ DFWLYDWHG�

&KDQJH 0DQDJHPHQW� 6LPSOH 7DVN7KH &KDQJH 7DVN VXE�SURFHVV LV XVHG E\ WKH &KDQJH SURFHVV �VHH DERYH� WR KDQGOH WKH LQGLYLGXDO WDVNV WKDWQHHG WR EH FRPSOHWHG WR LPSOHPHQW WKH &KDQJH�

7KH ILUVW VWHS LQ WKH &KDQJH 7DVN LV WR DGG D QRWH WR GHVFULEH WKH 7DVN� 7KH 7DVN WKHQ FDQQRW SURJUHVV XQWLOWKH SDUHQW &KDQJH SURFHVV KDV EHHQ DXWKRUL]HG� :KHQ WKH &KDQJH KDV EHHQ DXWKRUL]HG� WKH 7DVN LVVFKHGXOHG IRU LPSOHPHQWDWLRQ� WKHQ LPSOHPHQWHG DQG ILQDOO\ FRPSOHWHG� 7KHVH WKUHH DFWLRQV HQDEOH \RX WRVHW D WLPH IRU WKH 7DVN WR EH LPSOHPHQWHG� UHFRUG WKDW LW KDV EHHQ LPSOHPHQWHG� DQG WKHQ FRQILUP WKDW WKH7DVN KDV EHHQ LPSOHPHQWHG DV H[SHFWHG�

��

Page 82: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

2SWLRQDO DFWLRQV IRU HDFK VWDWXV�

6WDWXV 2SWLRQDO DFWLRQV

3HQGLQJ $GG &RQILJXUDWLRQ ,WHP$VVLJQ�5HDVVLJQ'HWDFK &RQILJXUDWLRQ ,WHP6WDUW &ORFN6WRS &ORFN

:DLWLQJ IRU$XWKRUL]DWLRQ

$GG 1RWH

7R ,PSOHPHQW $GG 1RWH

7R &RPSOHWH $GG 1RWH

&RPSOHWHG 1RQH

��

Page 83: Hdi Capital Area September 2014 Meeting Slides

&+$1*( 0$1$*(0(17

&KDQJH 0DQDJHPHQW� &RQILJXUDWLRQ 7DVN7KLV WDVN LV DVVLJQHG WR WKH $VVHW &RQILJXUDWLRQ JURXS IRU FRPSOHWLRQ�

&KDQJH 0DQDJHPHQW� 'LVSRVDO $SSURYDO 7DVN7KLV WDVN LV DVVLJQHG WR WKH $VVHW 0DQDJHPHQW JURXS WR DSSURYH RU UHMHFW�

��

Page 84: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

&KDQJH 0DQDJHPHQW� 3XUFKDVH 5HTXHVW $SSURYDO 7DVN7KLV WDVN HQDEOHV SXUFKDVH UHTXHVWV WR EH DSSURYHG RU UHMHFWHG� <RX QHHG WR FRQILJXUH WKH DVVLJQPHQW WRVXLW \RXU QHHGV�

&KDQJH 0DQDJHPHQW� 5HOHDVH 0DQDJHPHQW 7HVWLQJ 7DVN7KLV WDVN LV DVVLJQHG WR WKH JURXS DQG DQDO\VW VSHFLILHG LQ WKH 3DVV WR 7HVWLQJ OLVWV RQ WKH FKDQJH� 7KH7HVW FDQ EH IDLOHG RU SDVVHG�

��

Page 85: Hdi Capital Area September 2014 Meeting Slides

&+$1*( 0$1$*(0(17

&KDQJH 0DQDJHPHQW� 5HTXHVW $SSURYDO 7DVN7KLV WDVN LV DVVLJQHG IRU DSSURYDO WR WKH 0DQDJHU RI WKH 5DLVH 8VHU VHOHFWHG RQ WKH &KDQJH�

5HSRUWV&KDQJH 5HSRUW)LOH QDPH� &KDQJH�USW

3XUSRVH� 8VHG WR FUHDWH WKH UHSRUW WKDW LV GLVSOD\HGZKHQ \RX FOLFN WKH SULQW EXWWRQ RQ D&KDQJH

3DUDPHWHUV� *XLG

)LHOGV GLVSOD\HG� /RJJHG %\� 6HYHULW\� 6WDWXV� %UHDFKHG� /RJJHG 'DWH� $VVLJQHG *URXS�$VVLJQHG $QDO\VW� &DWHJRU\� 6XPPDU\ DQG 1RWHV

&KDQJHV &UHDWHG LQ 0RQWK E\ $VVLJQHH)LOH QDPH� 2SHQ&KDQJHV%\0RQWK�USW

3XUSRVH� 7R GLVSOD\ DOO WKH RSHQ FKDQJHV IRU D VSHFLILHGPRQWK

3DUDPHWHUV� 0RQWK� <HDU

)LHOGV GLVSOD\HG� *URXSHG %\ $VVLJQHG *URXS DQG WKHQ $VVLJQHH� ,W WKHQ GLVSOD\V� 3HUFHQWDOUHDG\ UHVROYHG� ,'� 6HYHULW\� %UHDFKHG DQG 'HVFULSWLRQ

��

Page 86: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

4XHULHV127(� ,Q DGGLWLRQ WR WKH TXHULHV GHVFULEHG EHORZ� WKHUH DUH GHIDXOW TXHULHV IRU WKH PDLQ REMHFWV LQ WKH &KDQJH0DQDJHPHQW PRGXOH� 7KHVH GHIDXOW TXHULHV KDYH QDPHV RI WKH IRUP &KDQJH � �REMHFW!� DQG GLVSOD\ WKH 7LWOH �RU6XPPDU\�� &UHDWHG E\� DQG &UHDWHG GDWH ILHOGV� 7KH\ KDYH QR FULWHULD VSHFLILHG� 'HIDXOW TXHULHV WKDW GLIIHUVLJQLILFDQWO\ IURP WKLV DUH DOVR LQFOXGHG EHORZ�

$FWLYH &KDQJHV3XUSRVH� /LVWV DOO FKDQJHV QRW DW DQ HQG VWDWXV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,'� &UHDWLRQ 'DWH� 7LWOH� 6WDWXV� &XUUHQW $VVLJQHG *URXS� &XUUHQW $VVLJQHG$QDO\VW

&ULWHULD� 6WDWXV�,V (QG LV HTXDO WR IDOVH

$OO &KDQJHV3XUSRVH� /LVWV DOO FKDQJHV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,'� $VVHW ,'� 8VHU� &UHDWLRQ 'DWH� 6WDWXV� /LIHF\FOH� 7LWOH

&ULWHULD� 1RQH

$OO 5HOHDVHV3XUSRVH� /LVWV DOO UHOHDVHV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HOHDVH 5HIHUHQFH� 5HOHDVH 2XWOLQH� &UHDWHG 2Q� &XUUHQW 6WDWXV

&ULWHULD� /LIHF\FOH LV HTXDO WR 5HOHDVH 0DQDJHPHQW 3URFHVV

&KDQJH ± $SSURYDOV3XUSRVH� 'HIDXOW TXHU\ IRU &KDQJH $SSURYDOV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 1DPH

&ULWHULD� 1RQH

&KDQJH ± $VVLJQPHQWV3XUSRVH� 'HIDXOW TXHU\ IRU &KDQJH $VVLJQPHQWV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7LWOH� &UHDWHG E\� 8VHU DVVLJQHG WR� *URXS DVVLJQHG WR� $VVLJQPHQW GDWH

&ULWHULD� 1RQH

��

Page 87: Hdi Capital Area September 2014 Meeting Slides

&+$1*( 0$1$*(0(17

&KDQJH ± (VFDODWLRQ 3RLQWV3XUSRVH� 'HIDXOW TXHU\ IRU &KDQJH (VFDODWLRQ 3RLQWV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7LWOH� &UHDWHG E\� (VFDODWLRQ 7LPH� ,V %UHDFK� &UHDWHG GDWH

&ULWHULD� 1RQH

&KDQJH ± ,PSOHPHQWDWLRQ 6XEPLVVLRQV3XUSRVH� 'HIDXOW TXHU\ IRU ,PSOHPHQWDWLRQ 6XEPLVVLRQV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 1DPH

&ULWHULD� 1RQH

&KDQJH ± 4XRWHV3XUSRVH� 'HIDXOW TXHU\ IRU &KDQJH 4XRWHV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 4XRWH� 4XRWH 2EWDLQHG )URP� 4XRWH $PRXQW� &UHDWHG E\� &UHDWHG GDWH

&ULWHULD� 1RQH

&KDQJH ± 5DLVH 3XUFKDVH 2UGHU3XUSRVH� 'HIDXOW TXHU\ IRU 5DLVH 3XUFKDVH 2UGHU

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5DLVH 3XUFKDVH 2UGHU� 3XUFKDVH 2UGHU 1XPEHU� &UHDWHG E\� &UHDWHG GDWH

&ULWHULD� 1RQH

&KDQJH ± 5HPLQGHUV3XUSRVH� 'HIDXOW TXHU\ IRU &KDQJH 5HPLQGHUV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 6XEMHFW� 6HQG 'DWH

&ULWHULD� 1RQH

&KDQJH ± 7DVN $VVLJQPHQWV3XUSRVH� 'HIDXOW TXHU\ IRU &KDQJH 7DVN $VVLJQPHQWV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7LWOH� &UHDWHG E\� 8VHU DVVLJQHG WR� *URXS DVVLJQHG WR� $VVLJQPHQW GDWH

&ULWHULD� 1RQH

��

Page 88: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

&KDQJH ± 7DVN 5HPLQGHUV3XUSRVH� 'HIDXOW TXHU\ IRU &KDQJH 7DVN 5HPLQGHUV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 6XEMHFW� 6HQG 'DWH

&ULWHULD� 1RQH

&KDQJH ± 7DVNV3XUSRVH� 'HIDXOW TXHU\ IRU &KDQJH 7DVNV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7LWOH� 6WDWXV� &UHDWHG E\� &UHDWHG GDWH

&ULWHULD� 1RQH

&KDQJH ± 8$7 6XEPLVVLRQV3XUSRVH� 'HIDXOW TXHU\ IRU 8VHU $FFHSWDQFH 7HVW 6XEPLVVLRQV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 1DPH

&ULWHULD� 1RQH

&KDQJHV $ZDLWLQJ $XWKRUL]DWLRQ3XUSRVH� /LVWV &KDQJHV WKDW DUH DZDLWLQJ DXWKRUL]DWLRQ

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,'� &UHDWHG GDWH� 7LWOH� 6WDWXV

&ULWHULD� 6WDWXV�7LWOH LV RQH RI �&KDQJH 0DQDJHU $SSURYDO� &KDQJH $GYLVRU\ %RDUG$SSURYDO�

&KDQJHV %\ 6WDWXV3XUSRVH� /LVWV RSHQ &KDQJHV VRUWHG E\ VWDWXV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,'� &UHDWHG GDWH� 7LWOH� 6WDWXV� 7\SH RI FKDQJH

&ULWHULD� 6WDWXV�,V (QG LV HTXDO WR IDOVH

��

Page 89: Hdi Capital Area September 2014 Meeting Slides

&+$1*( 0$1$*(0(17

&KDQJHV %\ 7\SH3XUSRVH� /LVWV RSHQ &KDQJHV VRUWHG E\ W\SH RI FKDQJH

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,'� &UHDWHG GDWH� 7LWOH� 6WDWXV� 7\SH RI FKDQJH

&ULWHULD� 6WDWXV�,V (QG LV HTXDO WR IDOVH

5HOHDVH 7HVWV VWLOO 2XWVWDQGLQJ3XUSRVH� /LVWV DOO XQILQLVKHG 5HOHDVH 7HVW 7DVNV IRU D VSHFLILHG 5HOHDVH� XVHG RQ WKH

5HOHDVH 'HWDLOV DQG 5ROO 2XW 'HWDLOV ZLQGRZV

3URPSWV� &KDQJH ,'

)LHOGV GLVSOD\HG� 7HVW 7\SH� 'HVFULSWLRQ

&ULWHULD� &KDQJH ,' LV HTXDO WR �SURPSW XVHU!$1' 6WDWXV�,V (QG LV HTXDO WR IDOVH

5HOHDVHV 3ODQQHG )RU 7RGD\3XUSRVH� /LVWV DOO 5HOHDVHV WKDW DUH SURSRVHG WR EH UHOHDVHG RQ WKH VSHFLILHG GD\� XVHG RQ

WKH 5HOHDVH 'HWDLOV DQG 5ROO 2XW 'HWDLOV ZLQGRZV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH� 5HOHDVH 2XWOLQH� 5HOHDVH 7\SH� &XUUHQW 6WDWXV

&ULWHULD� 3URSRVHG 5HOHDVH 'DWH ,V 7RGD\

5ROO 2XWV 3ODQQHG )RU WKLV 'D\3XUSRVH� /LVWV DOO 5HOHDVHV WKDW DUH SURSRVHG WR EH UROOHG RXW RQ WKH VSHFLILHG GD\�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH� 5HOHDVH 2XWOLQH� 5HOHDVH 7\SH� &XUUHQW 6WDWXV

&ULWHULD� 5ROO 2XW 'DWH ,V 7RGD\

66 &KDQJHV &XUUHQWO\ $VVLJQHG 7R 0H3XUSRVH� /LVWV DOO RSHQ FKDQJHV DVVLJQHG WR WKH FXUUHQW XVHU� ,QWHQGHG IRU XVH ZLWK :HE

$FFHVV�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,'� &UHDWLRQ 'DWH� 7LWOH� /LIHF\FOH

&ULWHULD� &XUUHQW $VVLJQHG 8VHU LV &XUUHQW 8VHU$1' 6WDWXV LV QRW DQ (QG VWDWXV

��

Page 90: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

&DWHJRULHV7KH IROORZLQJ FDWHJRULHV DUH LQFOXGHG LQ WKH RXW RI WKH ER[ GDWDEDVH�

&KDQJH &DWHJRU\

$GG&KDQJH'HOHWH0RYH

2UGHUHG OLVWV7KH IROORZLQJ RUGHUHG OLVWV DUH LQFOXGHG LQ WKH RXW RI WKH ER[ GDWDEDVH�

6HYHULW\

0DMRU0LQRU

5HIHUHQFH OLVWV7KH IROORZLQJ UHIHUHQFH OLVWV DUH LQFOXGHG LQ WKH RXW RI WKH ER[ GDWDEDVH�

&KDQJH 'HWDLO 7\SH%DFNRXW 3ODQ%HQHILWV RI &KDQJH5HDVRQ IRU &KDQJH5HVRXUFH (VWLPDWH5LVN RI 'RLQJ5LVN RI QRW 'RLQJ7HVWLQJ 3ODQ

&KDQJH 7\SH(PHUJHQF\1RUPDO6WDQGDUG

)RUP RI 5HOHDVH(PHUJHQF\0DMRU0LQRU

5HOHDVH 7\SH'HOWD)XOO3DFNDJH

7HVW 7\SH)XQFWLRQDO2SHUDWLRQDO

127(� <RX FDQ HGLW DQG DGG IXUWKHU HQWULHV LQ WKH 5HIHUHQFH /LVWV XVLQJ WKH $GPLQLVWUDWLRQ FRPSRQHQW LQ 6HUYLFH'HVN� )RU PRUH LQIRUPDWLRQ� VHH WKH /$1'(6. 6HUYLFH 'HVN $GPLQLVWUDWRU *XLGH�

��

Page 91: Hdi Capital Area September 2014 Meeting Slides

&+$1*( 0$1$*(0(17

:LQGRZ YLHZV7KLV VHFWLRQ GHVFULEHV WKH ZLQGRZ YLHZV WKDW DUH DVVRFLDWHG ZLWK WKH &KDQJH 0DQDJHPHQW PRGXOH� <RX ZLOO QHHG WR FRQILJXUH DSSURSULDWH 9LHZ6HOHFWLRQ 5XOHV WR XVH WKHVH ZLQGRZ YLHZV�

127(� )RU PRUH LQIRUPDWLRQ DERXW ZLQGRZ YLHZV� VHH WKH:LQGRZ 0DQDJHU FKDSWHU RI WKH /$1'(6. 6HUYLFH 'HVN 'HVLJQHU *XLGH�

$VVHW 0DQDJHPHQW127(� 1R*ULG )RUP LV VSHFLILHG IRU DQ\ RI WKH YLHZV�

&KDQJH 0DQDJHPHQW�$VVLJQPHQW

,QGH[ 3URFHVV $FWLRQ 2EMHFW 6WDWH :LQGRZ� $VVHW 3URFXUHPHQW � $Q\ 3URFXUHPHQW$VVLJQ

� $VVHW 'LVSRVDO�5HPRYDO � $Q\ 'LVSRVDO�5HPRYDO$VVLJQ

&KDQJH 0DQDJHPHQW�&KDQJH

,QGH[ 3URFHVV $FWLRQ 2EMHFW 6WDWH :LQGRZ� $VVHW 3URFXUHPHQW � $Q\ 3URFXUHPHQW

� $VVHW 'LVSRVDO�5HPRYDO � $Q\ 'LVSRVDO5HPRYDO

&KDQJH 0DQDJHPHQW�&KDQJH 7DVN

,QGH[ 3URFHVV $FWLRQ 2EMHFW 6WDWH :LQGRZ� &RQILJXUDWLRQ 7DVN � $Q\ 3URFXUHPHQW7DVN

� 5HTXHVW $SSURYDO 7DVN � $Q\ 3URFXUHPHQW7DVN

� 3XUFKDVH 5HTXHVW $SSURYDO 7DVN � $Q\ 3URFXUHPHQW7DVN

� 'LVSRVDO $SSURYDO 7DVN � $Q\ 'LVSRVDO5HPRYDO7DVN

��

Page 92: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

&KDQJH 0DQDJHPHQW�&ORVXUH

,QGH[ 3URFHVV $FWLRQ 2EMHFW 6WDWH :LQGRZ� $VVHW 'LVSRVDO�5HPRYDO � $Q\ 'LVSRVDO5HPRYDO&ORVXUH

&KDQJH 0DQDJHPHQW�1RWH

,QGH[ 3URFHVV $FWLRQ 2EMHFW 6WDWH :LQGRZ� $VVHW 3URFXUHPHQW � $Q\ 3URFXUHPHQW1RWH

� $VVHW 'LVSRVDO�5HPRYDO � $Q\ 'LVSRVDO5HPRYDO1RWH

&KDQJH 0DQDJHPHQW�7DVN &RPSOHWLRQ

,QGH[ 3URFHVV $FWLRQ 2EMHFW 6WDWH :LQGRZ� &RQILJXUDWLRQ 7DVN � $Q\ 3URFXUHPHQW7DVN&RPSOHWLRQ

� 3XUFKDVH 5HTXHVW $SSURYDO 7DVN � $Q\ 3URFXUHPHQW7DVN&RPSOHWLRQ

� 5HTXHVW $SSURYDO 7DVN � $Q\ 3URFXUHPHQW7DVN&RPSOHWLRQ

'HIDXOW

&KDQJH 0DQDJHPHQW�&KDQJH

,QGH[ 3URFHVV $FWLRQ 2EMHFW 6WDWH :LQGRZ� &KDQJH 6XEPLW IRU $SSURYDO $Q\ &KDQJH 0DQGDWRU\ )LHOGV

� &KDQJH � 1HZ &UHDWH &KDQJH

� &KDQJH � $Q\ &KDQJH

��

Page 93: Hdi Capital Area September 2014 Meeting Slides

&+$1*( 0$1$*(0(17

5HOHDVH 0DQDJHPHQW

&KDQJH 0DQDJHPHQW�&KDQJH

,QGH[ 3URFHVV $FWLRQ 2EMHFW 6WDWH :LQGRZ� 5HOHDVH 0DQDJHPHQW 3URFHVV 9LHZ 5ROORXW 'HWDLOV $Q\ 5ROO2XW 3ODQ

� 5HOHDVH 0DQDJHPHQW 3URFHVV 5HOHDVH 5ROO 2XW 3ODQ $Q\ 5ROO2XW 3ODQ

� 5HOHDVH 0DQDJHPHQW 3URFHVV � $Q\ 5HOHDVH 0DQDJHPHQW

&KDQJH 0DQDJHPHQW�&KDQJH 7DVN

,QGH[ 3URFHVV $FWLRQ 2EMHFW 6WDWH :LQGRZ� 5HOHDVH 0DQDJHPHQW 7HVWLQJ 7DVN � $Q\ 5HOHDVH 0DQDJHPHQW 7DVN

&KDQJH 0DQDJHPHQW�&ORVXUH

,QGH[ 3URFHVV $FWLRQ 2EMHFW 6WDWH :LQGRZ� 5HOHDVH 0DQDJHPHQW 3URFHVV � $Q\ 5HOHDVH 0DQDJHPHQW &ORVXUH

&KDQJH 0DQDJHPHQW�1RWH

,QGH[ 3URFHVV $FWLRQ 2EMHFW 6WDWH :LQGRZ� 5HOHDVH 0DQDJHPHQW 3URFHVV � $Q\ 5HOHDVH 0DQDJHPHQW 1RWH

��

Page 94: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

��

Page 95: Hdi Capital Area September 2014 Meeting Slides

&DOO PDQDJHPHQW<RX FDQ ILQG RXW DERXW�

� 3URFHVVHV RQ SDJH ��� 4XHULHV RQ SDJH ��� &DWHJRULHV RQ SDJH ��� 2UGHUHG OLVWV RQ SDJH ��

Page 96: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

3URFHVVHV&DOO 0DQDJHPHQW� &DOO7KH &DOO SURFHVV LV D VLPSOH SURFHVV IRU KDQGOLQJ H[WHUQDO FDOOV� <RX FDQ HLWKHU FORVH &DOOV GLUHFWO\� RU UHVROYHDQG WKHQ FORVH WKHP VHSDUDWHO\ DV D WZR�VWHS SURFHGXUH� ,I QHHGHG� \RX FDQ UHWXUQ UHVROYHG RU FORVHG &DOOVWR WKH 2SHQ VWDWXV�

<RX FDQQRW UHVROYH RU FORVH D &DOO LI WKHUH DUH DQ\ 7DVNV WKDW KDYH QRW EHHQ FRPSOHWHG�

2SWLRQDO DFWLRQV IRU HDFK VWDWXV�

6WDWXV 2SWLRQDO DFWLRQV

2SHQ $GG $VVLJQPHQW$GG $WWDFKPHQW$GG &KLOG &DOO$GG /LQNHG .QRZOHGJH$GG 1RWH$GG 3DUHQW &DOO$GG 5HPLQGHU$GG 7DVN&UHDWH &KLOG &DOO&UHDWH (VFDODWLRQ 3RLQW'HWDFK &KLOG &DOO'HWDFK /LQNHG .QRZOHGJH6WDUW &ORFN6WRS &ORFN

5HVROYHG $GG $WWDFKPHQW

&ORVHG 1RQH

127(� 7KH DFWLRQV WKDW FUHDWH OLQNHG SURFHVVHV �IRU H[DPSOH� &UHDWH &KLOG &DOO� ZLOO EH DYDLODEOH DW UXQWLPH RQO\LI WKH OLQNHG SURFHVV WKDW LV VSHFLILHG KDV EHHQ DFWLYDWHG�

��

Page 97: Hdi Capital Area September 2014 Meeting Slides

&$// 0$1$*(0(17

&DOO 0DQDJHPHQW� &RPSODLQW7KH &RPSODLQW SURFHVV SURYLGHV D PHFKDQLVP IRU KDQGOLQJ UHJXODWHG DQG XQUHJXODWHG FRPSODLQWV� 7KH ILUVWZLQGRZ WKDW DSSHDUV LQFOXGHV D FKHFN ER[ WKDW HQDEOHV \RX WR VSHFLI\ ZKHWKHU WKH FRPSODLQW LV UHJXODWHGRU QRW�

,I \RX GR QRW VHOHFW WKH 5HJXODWHG &RPSODLQW FKHFN ER[� WKH &RPSODLQW LV DVVLJQHG WR WKH &RPSODLQW$GPLQJURXS� ZKR LQIRUP WKH FXVWRPHU WKDW WKHLU FRPSODLQW KDV QRW EHHQ DFFHSWHG DV D UHJXODWHG FRPSODLQW�$IWHU WKLV� D SURFHVV UHYLHZ LV FRPSOHWHG DQG WKH &RPSODLQW LV FORVHG�

127(� <RX PD\ QHHG WR FUHDWH WKH &RPSODLQW$GPLQ JURXS�

,I \RX GR VHOHFW WKH 5HJXODWHG &RPSODLQW FKHFN ER[� WKH &RPSODLQW LV VWLOO DVVLJQHG WR WKH &RPSODLQW$GPLQJURXS� EXW LQ WKLV LQVWDQFH WKH FXVWRPHU UHFHLYHV DQ DFNQRZOHGJPHQW WKDW LW LV D UHJXODWHG FRPSODLQW�$IWHU DFNQRZOHGJPHQW� \RX FDQ HLWKHU FRPSOHWH DQ LQYHVWLJDWLRQ RU VHQG D KROGLQJ OHWWHU WR FRPSOHWH WKHLQYHVWLJDWLRQ� :KHQ WKH LQYHVWLJDWLRQ KDV EHHQ FRPSOHWHG� \RX FDQ DJUHH D VROXWLRQ DQGPRYH WKH&RPSODLQW WR WKH SURFHVV UHYLHZ�:KHQ WKH SURFHVV UHYLHZ LV FRPSOHWHG� WKH &RPSODLQW LV FORVHG�

��

Page 98: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

$OO DVVLJQPHQWV DUH WR WKH JURXS &RPSODLQ$GPLQ�

��

Page 99: Hdi Capital Area September 2014 Meeting Slides

&$// 0$1$*(0(17

2SWLRQDO DFWLRQV IRU HDFK VWDWXV�

6WDWXV 2SWLRQDO DFWLRQV2SHQ $GG $WWDFKPHQW

$GG 1RWH

5HJXODWHG &RPSODLQW $GG $WWDFKPHQW$GG 1RWH

$FNQRZOHGJPHQW 6HQW $GG $WWDFKPHQW$GG 1RWH

,QYHVWLJDWLRQ &RPSOHWH $GG $WWDFKPHQW$GG 1RWH

8QUHJXODWHG &RPSODLQW $GG $WWDFKPHQW$GG 1RWH

3URFHVV 5HYLHZ $GG $WWDFKPHQW$GG 1RWH

&ORVHG 1RQH

&DOO 0DQDJHPHQW� 7DVN,I D FDOO LQFRUSRUDWHV D QXPEHU RI DFWLYLWLHV� WKHQ \RX FDQ VXEGLYLGH WKH FDOO XVLQJ RQH RU PRUH WDVNV� 7DVNVFRQWDLQ DFWLRQV DQG VXSSRUW LVVXHV WKDW PXVW EH UHVROYHG EHIRUH \RX FDQ FORVH WKH FDOOV� /LNH FDOOV� WDVNV DUHSURFHVVHV �DQG DUH VXE SURFHVVHV RI WKH FDOO�� <RX FDQ DGG 7DVNV DV 2SWLRQDO $FWLRQ ,QVWDQFHV WR DQ\SURFHVV DV UHTXLUHG� ,I \RX ZDQW WR DGG D 7DVN WR WKH VWDQGDUG FRQILJXUDWLRQ &DOO SURFHVVHV� \RX FDQ DGG WKHSUHGHILQHG 7DVN SURFHVV LQFOXGHGZLWKLQ WKH GHIDXOW FRQILJXUDWLRQ�

2SWLRQDO DFWLRQV IRU HDFK VWDWXV�

6WDWXV 2SWLRQDO DFWLRQV

2SHQ $GG $VVLJQPHQW$GG 1RWH$GG 5HPLQGHU6WDUW &ORFN6WRS &ORFN

&RPSOHWHG 1RQH

��

Page 100: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

4XHULHV&DOO :RUNORDG /LVW3XUSRVH� $ SULRULWL]HG OLVW RI FDOOV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 3ULRULW\ 7LWOH� &ODVV� /LIHF\FOH� ,'� 5DLVHG %\� $VVLJQHG *URXS� $VVLJQHG $QDO\VW�$VVLJQPHQW 'DWH� $VVLJQPHQW 1XPEHU� 7LWOH� 6WDWXV

&ULWHULD� 1RQH

&DWHJRULHV7KH IROORZLQJ FDWHJRULHV DUH LQFOXGHG LQ WKH RXW RI WKH ER[ GDWDEDVH�

&DWHJRU\

+DUGZDUH6RIWZDUH

2UGHUHG OLVWV7KH IROORZLQJ RUGHUHG OLVWV DUH LQFOXGHG LQ WKH RXW RI WKH ER[ GDWDEDVH�

6HYHULW\

+LJK0HGLXP/RZ

��

Page 101: Hdi Capital Area September 2014 Meeting Slides

5HTXHVW PDQDJHPHQW<RX FDQ ILQG RXW DERXW�

� 3URFHVVHV RQ SDJH ��� 4XHULHV RQ SDJH ���� 5HVSRQVH OHYHOV RQ SDJH ���� &DWHJRULHV RQ SDJH ���� 2UGHUHG OLVWV RQ SDJH ���� 5HTXHVW WHPSODWHV RQ SDJH ���� &DWDORJ +LHUDUFK\ &DWHJRULHV RQ SDJH ���

Page 102: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

3URFHVVHV5HTXHVW 0DQDJHPHQW� $FFHVV 5HTXHVW7KH $FFHVV 5HTXHVW SURFHVV VXSSRUWV DSSOLFDWLRQ�VHUYLFH�GRPDLQ�QHWZRUN DFFHVV UHTXHVWV� ZKHUH DUHODWLRQVKLS LV FUHDWHG EHWZHHQ WKH XVHU DQG WKH DSSOLFDWLRQ DIWHU DFFHVV LV JUDQWHG� XQWLO WKH DFFHVV LVUHPRYHG�

7KLV SURFHVV LV QRW GHVLJQHG IRU 3K\VLFDO /RFDWLRQ DFFHVV UHTXHVWV ZKHUH QR RQJRLQJ UHODWLRQVKLS LVUHTXLUHG�

7KH ILUVW VHFWLRQ RI WKH SURFHVV KDQGOHV WKH DXWKRULVDWLRQV WKDW PD\ EH UHTXLUHG� 7KH UHTXHVW LV WKHQSURYLVLRQHG� DQG DIWHU IXOILOOPHQW� WKH XVHU DQG WKH &,�DUH OLQNHG WRJHWKHU� DQG WKH XVHU LV QRWLILHG� )LQDOO\�WKH DFFHVV UHTXHVW FDQ EH ZLWKGUDZQ DW D ODWHU GDWH� 0RUH GHWDLO LV JLYHQ EHORZ�

:KHQ WKH 5HTXHVW LV LQLWLDOO\ VDYHG� WKH RULJLQDWRU LV QRWLILHG DERXW WKH UHTXHVW� DQG WKH 5HTXHVW HQWHUV WKH$XWKRUL]DWLRQ 6HTXHQFH� 7KH $XWKRUL]DWLRQ 6HTXHQFH DW WKH VWDUW RI WKLV SURFHVV LV WKH VDPH DV WKDW LQ WKH*HQHULF 6HUYLFH 5HTXHVW SURFHVV GHVFULEHG LQ 5HTXHVW 0DQDJHPHQW� *HQHULF 6HUYLFH 5HTXHVW RQ SDJH ���

,I WKH 5HTXHVW LV DXWKRUL]HG E\ DOO RI WKH UHTXLUHG DXWKRUL]HUV� WKH 5HTXHVW SURJUHVVHV WR WKH 3URYLVLRQLQJVWDJH�

2Q HQWHULQJ WKH 3URYLVLRQLQJ VWDJH� WKH 5HTXHVW LV DVVLJQHG WR WKH 6$�XVHU�<RX QHHG WR FKDQJH WKLV�:H UHFRPPHQG WKDW \RX DVVLJQ WKH 5HTXHVW WR D JURXS RU D UROH� <RX FDQ DGG IXUWKHU VWHSV WR WKH3URYLVLRQLQJ VWDJH WRPHHW \RXU VSHFLILF UHTXLUHPHQWV�

7KH 3URYLVLRQLQJ VWDJH LV FRPSOHWHG HLWKHU E\ FDQFHOLQJ WKH 5HTXHVW LI LW LV QR ORQJHU UHTXLUHG� ZKLFK PRYHVWKH 5HTXHVW WR WKH &ORVHG VWDWXV� RU E\ IXOILOOLQJ WKH 5HTXHVW�

,I WKH 5HTXHVW LV IXOILOOHG� WKH UHTXHVWHG 6HUYLFH LV DXWRPDWLFDOO\ OLQNHG WR WKH 5DLVH 8VHU XVLQJ 9DOXH 7\SHVRQ WKH /LQN &,�DXWRPDWLF DFWLRQ� 7KH 5HTXHVW LV WKHQ DVVLJQHG WR WKH 5DLVH 8VHU DQG UHDFKHV WKHFRPSOHWHG VWDWXV FDOOHG6XEVFULEHG�

$IWHU WKLV� WKH 6HUYLFH LV DYDLODEOH WR WKH XVHU XQWLO WKH\ XVH WKH 5HTXHVW 5HPRYDO DFWLRQ� 7KLV DVVLJQVWKH 5HTXHVW WR WKH 6$�XVHU�$JDLQ� \RX QHHG WR FKDQJH WKLV WR DVVLJQ WKH 5HTXHVW WR D JURXS RU DUROH�:KHQ WKH 6HUYLFH KDV EHHQ UHPRYHG IURP WKH XVHU� WKH OLQN EHWZHHQ WKH 8VHU DQG WKH &, LVDXWRPDWLFDOO\ EURNHQ� DQG WKH 5HTXHVW LV FORVHG�

��

Page 103: Hdi Capital Area September 2014 Meeting Slides

5(48(670$1$*(0(17

��

Page 104: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

2SWLRQDO DFWLRQV IRU HDFK VWDWXV�

6WDWXV 2SWLRQDO DFWLRQV

2SHQ 1RQH

$ZDLWLQJ $XWKRUL]DWLRQ $GG 1RWH

$ZDLWLQJ 6HUYLFH $XWKRUL]DWLRQ $GG 1RWH

$ZDLWLQJ ,7�$XWKRUL]DWLRQ $GG 1RWH

$ZDLWLQJ %XVLQHVV $XWKRUL]DWLRQ $GG 1RWH

3URYLVLRQLQJ $GG 1RWH

6XEVFULEHG 1RQH

7R:LWKGUDZ 1RQH

&ORVHG 1RQH

5HTXHVW 0DQDJHPHQW� $/0 $VVHW 5HTXHVW7KH $/0�$VVHW 5HTXHVW SURFHVV LV GHVLJQHG WR OLQN ZLWK /$1'(6. $VVHW /LIHF\FOH 0DQDJHU�

:KHQ WKH 5HTXHVW LV LQLWLDOO\ VDYHG� WKH RULJLQDWRU LV QRWLILHG DERXW WKH UHTXHVW� DQG WKH 5HTXHVW LVDVVLJQHG IRU DXWKRUL]DWLRQ WR WKH 5DLVH 8VHUV 0DQDJHU �DV VHW RQ WKH (QG 8VHU ZLQGRZ LQ WKH$GPLQLVWUDWLRQ FRPSRQHQW��

,I WKH 5HTXHVW LV UHMHFWHG� WKH 5HTXHVW LV FORVHG� LI LW LV DXWKRUL]HG LW LV DVVLJQHG WR WKH ,7 JURXS� $W WKLV SRLQW\RX FDQ DGG VRPH VWHSV WR LQWHJUDWH ZLWK \RXU $/0�V\VWHP DV UHTXLUHG�

7KH 5HTXHVW SURJUHVVHV ZKHQ D QRWH LV DGGHGZLWK WKH WLWOH $VVHW 5HTXHVW )XOILOOHG� 7KLV FDQ HLWKHU EHGRQH DXWRPDWLFDOO\ E\ $/0� RU PDQXDOO\ E\ DQ DQDO\VW� $IWHU WKLV� WKH 5HTXHVW LV DVVLJQHG WR WKH 5DLVH8VHU� ZKR FRQILUPV WKH $/0�$VVHW 5HTXHVW� DQG SURYLGHV DQ\ IHHGEDFN DERXW WKH VHUYLFH SURYLGHG�

:KHQ WKH 5DLVH 8VHU KDV FRPSOHWHG WKH VXUYH\� WKH 5HTXHVW LV FORVHG�

��

Page 105: Hdi Capital Area September 2014 Meeting Slides

5(48(670$1$*(0(17

��

Page 106: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

2SWLRQDO DFWLRQV IRU HDFK VWDWXV�

6WDWXV 2SWLRQDO DFWLRQV2SHQ 1RQH$ZDLWLQJ $XWKRUL]DWLRQ $GG 1RWH:LWK $VVHW 0DQDJHPHQW 6\VWHP 1RQH$ZDLWLQJ &RQILUPDWLRQ 1RQH&ORVHG 1RQH

5HTXHVW 0DQDJHPHQW� %XQGOH 5HTXHVW7KH %XQGOH 5HTXHVW SURFHVV SURYLGHV D SURFHVV WKDW KDQGOHV UHTXHVWV IRU %XQGOHV ± WKDW LV FROOHFWLRQV RIVHUYLFHV LQ D VLQJOH UHTXHVW� 7KH SURFHVV KDQGOHV WKH DXWKRUL]DWLRQ IRU WKH %XQGOH� DQG WKHQ DXWRPDWLFDOO\FUHDWHV D &KLOG 5HTXHVW IRU HDFK VHUYLFH FRQWDLQHG LQ WKH %XQGOH� :KHQ DOO RI WKH &KLOG 5HTXHVWV DUHFRPSOHWH� WKH %XQGOH 5HTXHVW FDQ EH FRPSOHWHG�

7KH $XWKRUL]DWLRQ 6HTXHQFH DW WKH VWDUW RI WKLV SURFHVV LV WKH VDPH DV WKDW LQ WKH *HQHULF 6HUYLFH 5HTXHVWSURFHVV GHVFULEHG RQ SDJH 5HTXHVW 0DQDJHPHQW� *HQHULF 6HUYLFH 5HTXHVW RQ SDJH ���

:KHQ WKH DXWKRULVDWLRQV DUH FRPSOHWH� WKH RULJLQDWRU LV QRWLILHG WKDW WKHLU UHTXHVW KDV EHHQ DXWKRUL]HG�7KHQ WKHUH DUH WZR DXWRPDWLF DFWLRQV WKDW FUHDWH WKH &KLOG 5HTXHVWV IRU WKH 6HUYLFHV WKDW WKH %XQGOHFRPSULVHV�

�� 7KH ILUVW SRSXODWHV WKH %XQGOH RQ WKH 3DUHQW 5HTXHVW ZLWK WKH EXQGOH VHOHFWHG DV WKH 6HUYLFH,WHP RQ WKH 3DUHQW 5HTXHVW� 7KH %XQGOH ILHOG LV QRW DGGHG WR WKH 5HTXHVW ZLQGRZ�7KLV XVHV WKH IROORZLQJ FDOFXODWLRQ�LPSRUW 6\VWHPVWDWLF GHI *HW$WWULEXWH9DOXH�5HTXHVW���9DOXH QXOO�LI 5HTXHVW�B&RQILJ,WHP5HTXHVWHG � QXOO���LI 5HTXHVW�B&RQILJ,WHP5HTXHVWHG�&ODVV�1DPH �%XQGOH�����9DOXH 5HTXHVW�B&RQILJ,WHP5HTXHVWHGUHWXUQ 9DOXH

127(� /LQHV � DQG � RI WKLV FDOFXODWLRQ DUH LQGHQWHG ZLWK RQH VSDFH� OLQH � LV LQGHQWHG ZLWK WZR VSDFHV� OLQH � LVLQGHQWHG ZLWK WKUHH VSDFHV� DQG WKH ILQDO OLQH LV QRW LQGHQWHG�

7KLV FDOFXODWLRQ VHWV WKH YDOXH RI WKH %XQGOH ILHOG WR WKH YDOXH VHOHFWHG LQ WKH 6HUYLFH ,WHP ILHOGRQ WKH 5HTXHVW ZLQGRZ� LI WKH 6HUYLFH ,WHP VHOHFWHG LV D EXQGOH�

127(� 7KLV FDOFXODWLRQ ZRUNV E\ VHWWLQJ WKH YDOXH RI WKH %XQGOH ILHOG WR QXOO �HPSW\�� 7KHQ� LI WKH YDOXH RI WKH&RQILJ,WHP5HTXHVWHG ILHOG RQ WKH 5HTXHVW LV QRW QXOO� LW FKHFNV WR VHH LI WKH1DPH RI WKH &ODVV IRU WKH&RQILJ,WHP5HTXHVWHG ILHOG LV VHW WR %XQGOH� ,I LW LV� WKLV PHDQV WKDW WKH &RQILJ,WHP5HTXHVWHG LV D EXQGOH �WKH&RQILJ,WHP5HTXHVWHG LV VWRUHG LQ WKH 6HUYLFH ,WHP ILHOG RQ WKH 5HTXHVW ZLQGRZ��,I WKH FDOFXODWLRQ GHWHUPLQHV WKDW WKH &RQILJ,WHP5HTXHVWHG VHOHFWHG LV D EXQGOH� WKHQ WKH FDOFXODWLRQ VHWV WKHYDOXH RI WKH %XQGOH ILHOG WR EH WKH YDOXH VHOHFWHG LQ WKH 6HUYLFH ,WHP ILHOG RQ WKH 5HTXHVW ZLQGRZ�

�� 7KH VHFRQG DXWRPDWLF DFWLRQ SRSXODWHV WKH 6HUYLFH ,WHP�5HTXHVW 7\SH� DQG3URFHVV ILHOGV RQWKH &KLOG 5HTXHVWV ZLWK WKH UHTXLUHG YDOXHV IRU HDFK RI WKH &,V LQ WKH EXQGOH�7KLV LV GRQH XVLQJ D YDOXH W\SH WKDW UHIHUV WR WKH %XQGOH \RX FRSLHG LQ WKH ILUVW DXWRPDWLF DFWLRQ�7KH &,V LQ D EXQGOH DUH VWRUHG LQ D FROOHFWLRQ FDOOHG&DWDORJ ,WHPV� ZKLFK LV D UHODWLRQVKLS WR WKHOLQNLQJ REMHFW FDOOHG&RQILJ ,WHP %XQGOH� 7KLV PHDQV WKDW WKH YDOXH W\SHV \RX QHHG WR VHOHFW DUH�6HUYLFH ,WHP ± B%XQGOH�&DWDORJXH,WHPV �&RQILJ,WHP�5HTXHVW 7\SH ± ^B%XQGOH�&DWDORJXH,WHPV �&RQILJ,WHP�&DWDORJXH+LHUDUFK\`3URFHVV ± ^B%XQGOH�&DWDORJXH,WHPV �&RQILJ,WHP�/LIHF\FOH`

��

Page 107: Hdi Capital Area September 2014 Meeting Slides

5(48(670$1$*(0(17

7KH VHFRQG DXWRPDWLF DFWLRQ DOVR VHWV WKH ERROHDQ DWWULEXWH ,V 3DUHQW $ %XQGOH WR 7UXH IRU WKH&KLOG 5HTXHVWV� 7KLV DWWULEXWH LV WKHQ XVHG LQ WKH &KLOG 5HTXHVWV WR E\SDVV WKH DXWKRUL]DWLRQ VWHSV LQWKH &KLOG 5HTXHVWV�

:$51,1*� ,I D EXQGOH LQFOXGHV D &, WKDW GRHV QRW KDYH D OLIHF\FOH VHW IRU LW� \RX ZLOO UHFHLYH DQ 2EMHFW 5HIHUHQFH1RW 6HW WR DQ ,QVWDQFH RI DQ 2EMHFW HUURU� 0DNH VXUH WKDW DOO VHUYLFHV WKDW DUH DYDLODEOH WKURXJK WKH 6HUYLFH &DWDORJKDYH D OLIHF\FOH DVVRFLDWHG ZLWK WKHP�

$IWHU WKH &KLOG 5HTXHVWV KDYH EHHQ FUHDWHG� WKH %XQGOH 5HTXHVW LV FRPSOHWHG� OHDYLQJ WKH &KLOG 5HTXHVWVWR FRPSOHWH WKH VHUYLFH SURYLVLRQ�

��

Page 108: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

7KHUH LV DQ $GG 1RWH RSWLRQDO DFWLRQV RQ HDFK RI WKH $ZDLWLQJ $XWKRUL]DWLRQ VWDWXVHV�

��

Page 109: Hdi Capital Area September 2014 Meeting Slides

5(48(670$1$*(0(17

5HTXHVW 0DQDJHPHQW� *HQHULF 6HUYLFH 5HTXHVW7KH *HQHULF 6HUYLFH 5HTXHVW SURFHVV SURYLGHV D EDVLF 6HUYLFH 5HTXHVW SURFHVV WKDW LV VXLWDEOH IRU H[WHQGLQJWR VXLW \RXU H[DFW UHTXLUHPHQWV� 7KH SURFHVV GLDJUDP LV VKRZQ LQ WZR SDUWV EHORZ� WKHQ GHVFULEHG LQ PRUHGHWDLO ODWHU�

��

Page 110: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

��

Page 111: Hdi Capital Area September 2014 Meeting Slides

5(48(670$1$*(0(17

7KHUH DUH ILYH SDUWV WR WKH *HQHULF 6HUYLFH 5HTXHVW SURFHVV� ZKLFK DUH LQ WKH RUGHU�

�� $XWKRUL]DWLRQ�� 6WRFN &KHFN�� 3URYLVLRQLQJ�� 5HTXHVW )XOILOOHG�� 8QVXEVFULEH

7KHVH DUH GHVFULEHG LQ PRUH GHWDLO EHORZ�

%HIRUH WKH $XWKRUL]DWLRQ 6HTXHQFH VWDUWV� WKHUH LV D 'HFLVLRQ� ZKLFK WHVWV WKH YDOXH RI WKH ,V 3DUHQW $%XQGOH DWWULEXWH RQ WKH 5HTXHVW REMHFW� %\ GHIDXOW� LQ 2EMHFW 'HVLJQHU� WKLV DWWULEXWH LV VHW WR )DOVH�ZKLFK WKHUHIRUH SDVVHV WKH SURFHVV LQWR WKH $XWKRUL]DWLRQ 6HTXHQFH� 7KLV DWWULEXWH� KRZHYHU� LV VHW WR7UXH IRU &KLOG 5HTXHVWV FUHDWHG E\ WKH %XQGOH 5HTXHVW SURFHVV �VHH 5HTXHVW 0DQDJHPHQW� %XQGOH5HTXHVW RQ SDJH ���� :KHQ ,V 3DUHQW $ %XQGOH LV VHW WR 7UXH� WKH SURFHVV E\SDVVHV WKH $XWKRUL]DWLRQ6HTXHQFH� DV WKH UHTXHVW KDV DOUHDG\ EHHQ DXWKRUL]HG E\ WKH SDUHQW %XQGOH 5HTXHVW SURFHVV�

$XWKRUL]DWLRQ 6HTXHQFH127(� 7KH $XWKRUL]DWLRQ 6HTXHQFH LV UHSOLFDWHG LQ RWKHU SURFHVVHV�

)RXU DXWKRUL]DWLRQV DUH SRVVLEOH� GHSHQGLQJ RQ YDOXHV VHW RQ WKH ZLQGRZ IRU WKH 6HUYLFH VHOHFWHG LQ WKH5HTXHVW�

z ,I WKH /LQH 0DQDJHU $XWK 5HTXLUHG" FKHFN ER[ LV VHOHFWHG RQ WKH 6HUYLFH ZLQGRZ� WKH 5HTXHVW LVDVVLJQHG IRU DXWKRUL]DWLRQ WR WKH 5DLVH 8VHUV 0DQDJHU �DV VHW RQ WKH (QG 8VHU ZLQGRZ LQ WKH$GPLQLVWUDWLRQ FRPSRQHQW��

z ,I D YDOXH LV VHOHFWHG LQ WKH 6HUYLFH $XWKRUL]DWLRQ OLVW RQ WKH 6HUYLFH ZLQGRZ� WKH 5HTXHVW LVDVVLJQHG WR WKH 6HUYLFH7HDP0DQDJHU UROH IRU DXWKRUL]DWLRQ�

z ,I D JURXS LV VHOHFWHG LQ WKH ,7 $XWKRUL]DWLRQ OLVW RQ WKH 6HUYLFH ZLQGRZ� WKH 5HTXHVW LV DVVLJQHG WRWKDW JURXS IRU DXWKRUL]DWLRQ�

z ,I D UROH LV VHOHFWHG LQ WKH %XVLQHVV $XWKRUL]DWLRQ OLVW RQ WKH 6HUYLFH ZLQGRZ� WKH 5HTXHVW LVDVVLJQHG WR WKDW UROH IRU DXWKRUL]DWLRQ�

$W HDFK RI WKHVH VWDJHV WKH DVVLJQHH FDQ $XWKRUL]H RU 5HMHFW WKH 5HTXHVW� ,I WKH 5HTXHVW LV UHMHFWHG� WKH5HTXHVW LV FORVHG ZLWK WKH VWDWXV RI5HMHFWHG� LI LW LV DXWKRUL]HG E\ DOO RI WKH UHTXLUHG DXWKRUL]HUV� WKH5HTXHVW SURJUHVVHV WR WKH 6WRFN &KHFN VWDJH�

��

Page 112: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

6WRFN &KHFN 6HTXHQFH7KH 6WRFN &KHFN 6HTXHQFH HQDEOHV \RX WR FRQILUP WKDW WKHUH LV D OLFHQVH RU VRPH VWRFN LQ SODFH IRU WKHUHTXHVWHG VHUYLFH�

,I WKH 5HTXLUHV 6WRFN RU /LFHQVH" FKHFN ER[ RQ WKH 6HUYLFH ZLQGRZ LV 127 VHOHFWHG� WKH SURFHVVE\SDVVHV WKH 6WRFN &KHFN 6HTXHQFH� RWKHUZLVH� LW LV DVVLJQHG WR WKH 6$�XVHU�<RX QHHG WR FKDQJH WKLV�:H UHFRPPHQG WKDW \RX DVVLJQ WKH 5HTXHVW WR D JURXS RU D UROH� <RX FDQ DGG IXUWKHU VWHSV WR WKH 6WRFN&KHFN 6HTXHQFH WRPHHW \RXU VSHFLILF UHTXLUHPHQWV�

$W WKLV VWDJH� WKH 5HTXHVW FDQ EH FDQFHOHG� ZKLFK FORVHV WKH 5HTXHVW ZLWK WKH VWDWXV RI &DQFHOHG� RU WKHVWRFN FDQ EH LGHQWLILHG� ZKLFK SDVVHV WKH 5HTXHVW LQWR WKH 3URYLVLRQLQJ 6HTXHQFH� $V DQ LQWHULP VWDJH� WKHLWHP FDQ EH LGHQWLILHG DV XQDYDLODEOH� ZKLFK PRYHV WKH SURFHVV WR WKH VWDWXV2XW RI 6WRFN� <RX FRXOG ZULWHD TXHU\ WR LGHQWLI\ 5HTXHVWV DW WKLV VWDWXV WR KHOS \RX WR H[SHGLWH WKH SURYLVLRQ RI LWHPV WKDW DUH RXW RIVWRFN�

��

Page 113: Hdi Capital Area September 2014 Meeting Slides

5(48(670$1$*(0(17

3URYLVLRQLQJ 6HTXHQFH:KHQ WKH 5HTXHVW KDV EHHQ DXWKRUL]HG DQG� LI QHFHVVDU\� WKH VWRFN KDV EHHQ FKHFNHG� LW LV DVVLJQHG WR WKHJURXS VHOHFWHG LQ WKH )XOILOOPHQW *URXS OLVW RQ WKH 6HUYLFH ZLQGRZ�

7KH 3URYLVLRQLQJ 6HTXHQFH LQFOXGHV D SODFHKROGHU ZKHUH \RX FDQ LQFOXGH VRPH SURFHVV DXWRPDWLRQ� VXFKDV LQWHJUDWLRQ ZLWK /$1'(6. 3URFHVV 0DQDJHU �/30��

5HTXHVW )XOILOOHG,I WKH VHUYLFH WKDW KDV EHHQ SURYLGHG LV D 5HTXHVW 2QFH VHUYLFH� DQ DXWRPDWLF DFWLRQ OLQNV WKH UHTXHVWHGLWHP ZLWK WKH 5DLVH 8VHU�

,I WKH 5HTXLUHV &XVWRPHU &RQILUPDWLRQ" FKHFN ER[ LV VHOHFWHG RQ WKH 6HUYLFH ZLQGRZ IRU WKHUHTXHVWHG VHUYLFH� WKH 5HTXHVW LV DVVLJQHG WR WKH 5DLVH 8VHU WR FRQILUP WKDW WKH\ KDYH UHFHLYHG WKHVHUYLFH�

,I WKH 6HUYLFH ,6�127 D 5HTXHVW 2QFH VHUYLFH� WKH 5HTXHVW PRYHV WR WKH (QG 6WDWXV &ORVHG� ,I WKH 6HUYLFH,6�D 5HTXHVW 2QFH VHUYLFH� WKH 5HTXHVW PRYHV WR WKH &RPSOHWHG 6WDWXV RI 6XEVFULEHG�

��

Page 114: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

8QVXEVFULEH 6HTXHQFH,I DQ HQG�XVHU UHTXHVWV D 5HTXHVW 2QFH VHUYLFH� WKH SURFHVV UHDFKHV D FRPSOHWHG VWDWXV RI 6XEVFULEHG�7KH HQG�XVHU FDQ WKHQ XVH WKH8QVXEVFULEH DFWLRQ WR ZLWKGUDZ WKH VHUYLFH� 7KH 5HTXHVW LV WKHQ DVVLJQHGWR WKH 6$�XVHU�<RX QHHG WR FKDQJH WKLV�:H UHFRPPHQG WKDW \RX DVVLJQ WKH 5HTXHVW WR D JURXS RU DUROH�

:KHQ WKH 6HUYLFH KDV EHHQ UHPRYHG IURP WKH XVHU� WKH OLQN EHWZHHQ WKH 8VHU DQG WKH &, LV DXWRPDWLFDOO\EURNHQ� DQG WKH 5HTXHVW LV FORVHG�

��

Page 115: Hdi Capital Area September 2014 Meeting Slides

5(48(670$1$*(0(17

2SWLRQDO DFWLRQV IRU HDFK VWDWXV�

6WDWXV 2SWLRQDO DFWLRQV

2SHQ 1RQH

$ZDLWLQJ $XWKRUL]DWLRQ $GG 1RWH

$ZDLWLQJ 6HUYLFH $XWKRUL]DWLRQ $GG 1RWH

$ZDLWLQJ ,7�$XWKRUL]DWLRQ $GG 1RWH

$ZDLWLQJ %XVLQHVV $XWKRUL]DWLRQ $GG 1RWH

&KHFNLQJ 6WRFN $YDLODELOLW\ $GG 1RWH

2XW RI 6WRFN 1RQH

3URYLVLRQLQJ $GG 1RWH� $GG 7DVN

8VHU &RQILUPDWLRQ 1RQH

6XEVFULEHG 1RQH

7R:LWKGUDZ 1RQH

&ORVHG 1RQH

&DQFHOHG 1RQH

5HMHFWHG 1RQH

��

Page 116: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

5HTXHVW 0DQDJHPHQW� +DUGZDUH 5HTXHVW7KH +DUGZDUH 5HTXHVW SURFHVV LV D YDULDQW RI WKH *HQHULF 6HUYLFH 5HTXHVW GHVFULEHG LQ 5HTXHVW0DQDJHPHQW� *HQHULF 6HUYLFH 5HTXHVW RQ SDJH ���

:KHQ WKH 5HTXHVW LV LQLWLDOO\ VDYHG� WKH RULJLQDWRU LV QRWLILHG DERXW WKH UHTXHVW� DQG WKH 5HTXHVW HQWHUV WKH$XWKRUL]DWLRQ 6HTXHQFH� 7KH $XWKRUL]DWLRQ 6HTXHQFH DW WKH VWDUW RI WKLV SURFHVV LV WKH VDPH DV WKDW LQ WKH*HQHULF 6HUYLFH 5HTXHVW SURFHVV�

��

Page 117: Hdi Capital Area September 2014 Meeting Slides

5(48(670$1$*(0(17

7KH UHVW RI WKH SURFHVV LV DOVR YHU\ VLPLODU WR WKH *HQHULF 6HUYLFH 5HTXHVW� DQG LQFOXGHV SODFHV ZKHUH \RXFRXOG DGG VWHSV WR LQFOXGH SXUFKDVLQJ DQG GHOLYHU\ SURFHVVHV DV UHTXLUHG�

��

Page 118: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

5HTXHVW 0DQDJHPHQW� 1HZ $' 8VHU 5HTXHVW7KH 1HZ $' 8VHU 5HTXHVW SURFHVV HQDEOHV XVHUV WR UHTXHVW D QHZ $FWLYH 'LUHFWRU\ XVHU DFFRXQW WR EHFUHDWHG� <RX FDQ LQFRUSRUDWH LQWHJUDWLRQ ZLWK /$1'(6. 3URFHVV 0DQDJHU �/30� WR DXWRPDWH WKH FUHDWLRQRI WKH $'�DFFRXQW�

:KHQ WKH 5HTXHVW KDV EHHQ VDYHG� WKH RULJLQDWRU LV QRWLILHG RI WKH GHWDLOV RI WKH 5HTXHVW� DQG WKH 5HTXHVWLV DVVLJQHG WR WKH JURXS VHOHFWHG LQ WKH ,7 $XWKRUL]DWLRQ OLVW RQ WKH ZLQGRZ IRU WKH VHOHFWHG VHUYLFH�

$W WKLV SRLQW WKH 5HTXHVW FDQ EH UHMHFWHG RU DXWKRUL]HG� ,I LW LV UHMHFWHG� WKH 5HTXHVW PRYHV WR WKH &ORVHGVWDWXV� LI LW LV DXWKRUL]HG LW LV DVVLJQHG WR WKH 6$�XVHU IRU SURYLVLRQLQJ�<RX QHHG WR FKDQJH WKLVDVVLJQPHQW�:H UHFRPPHQG WKDW \RX DVVLJQ WKH 5HTXHVW WR D JURXS RU D UROH�

7KH $' $FFRXQW %HLQJ &UHDWHG VWDWXV SURYLGHV D ORFDWLRQ WR DGG LQWHJUDWLRQ ZLWK D WRRO VXFK DV /30 WKDWFDQ DXWRPDWH WKH FUHDWLRQ RI DQ $'�DFFRXQW� )URP WKLV VWDWXV \RX FDQ HLWKHU FDQFHO WKH 5HTXHVW�ZKLFKPRYHV LW WR WKH &ORVHG VWDWXV� RU IXOILOO WKH 5HTXHVW�

:KHQ WKH 5HTXHVW KDV EHHQ IXOILOOHG� WKH RULJLQDWRU LV QRWLILHG� DQG LW LV DVVLJQHG WR WKH 5DLVH 8VHU DQGDXWRPDWLFDOO\ FORVHG�

���

Page 119: Hdi Capital Area September 2014 Meeting Slides

5(48(670$1$*(0(17

���

Page 120: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

2SWLRQDO DFWLRQV IRU HDFK VWDWXV�

6WDWXV 2SWLRQDO DFWLRQV

2SHQ 1RQH

$ZDLWLQJ ,7�$XWKRUL]DWLRQ $GG 1RWH

$' $FFRXQW %HLQJ &UHDWHG 1RQH

&ORVHG 1RQH

5HTXHVW 0DQDJHPHQW� 3DVVZRUG 5HVHW 5HTXHVW:KHQ WKLV 5HTXHVW LV LQLWLDOO\ VDYHG� LW LV DVVLJQHG WR WKH 6$ XVHU�<RX QHHG WR FKDQJH WKLV�:HUHFRPPHQG WKDW \RX DVVLJQ WKH 5HTXHVW WR D JURXS RU D UROH�

7KH 3DVVZRUG %HLQJ 5HVHW VWDWXV SURYLGHV D ORFDWLRQ WR DGG LQWHJUDWLRQ ZLWK D WRRO VXFK DV /$1'(6./30 WKDW FDQ DXWRPDWH UHVHWWLQJ D SDVVZRUG�)URP WKLV VWDWXV \RX FDQ HLWKHU FDQFHO WKH 5HTXHVW�ZKLFKPRYHV LW WR WKH &ORVHG VWDWXV� RU IXOILOO WKH 5HTXHVW�

:KHQ WKH 5HTXHVW KDV EHHQ IXOILOOHG� WKH RULJLQDWRU LV QRWLILHG DQG LW LV DXWRPDWLFDOO\ FORVHG�

7KHUH DUH QR RSWLRQDO DFWLRQV LQFOXGHGZLWK WKLV SURFHVV�

���

Page 121: Hdi Capital Area September 2014 Meeting Slides

5(48(670$1$*(0(17

5HTXHVW 0DQDJHPHQW� 5HTXHVW 7ULDJH7KH 5HTXHVW 7ULDJH SURFHVV SURYLGHV D 5HTXHVW SURFHVV WKDW \RX FDQ XVH DV WKH VWDUW RI DOO 5HTXHVWSURFHVVHV� ,W SURYLGHV D VWDQGDUG ZLQGRZ WR HQWHU WKH LQLWLDO GDWD� WKHQ ZKHQ \RX VDYH WKH 5HTXHVW LWDXWRPDWLFDOO\ UHLQLWLDOL]HV LQWR WKH DSSURSULDWH 5HTXHVW SURFHVV GHSHQGLQJ RQ WKH VHUYLFH VHOHFWHG�

127(� <RX ZLOO UHFHLYH DQ HUURU LI WKH UHTXHVWHG VHUYLFH KDV QR OLIHF\FOH DVVRFLDWHG ZLWK LW�

7KHUH DUH QR 2SWLRQDO DFWLRQV IRU WKLV SURFHVV�

5HTXHVW 0DQDJHPHQW� 6RIWZDUH 5HTXHVW7KH 6RIWZDUH 5HTXHVW SURFHVV LV D YDULDQW RI WKH *HQHULF 6HUYLFH 5HTXHVW GHVFULEHG LQ 5HTXHVW0DQDJHPHQW� *HQHULF 6HUYLFH 5HTXHVW RQ SDJH ���

:KHQ WKH 5HTXHVW LV LQLWLDOO\ VDYHG� WKH RULJLQDWRU LV QRWLILHG DERXW WKH UHTXHVW� DQG WKH 5HTXHVW HQWHUV WKH$XWKRUL]DWLRQ 6HTXHQFH� 7KH $XWKRUL]DWLRQ 6HTXHQFH DW WKH VWDUW RI WKLV SURFHVV LV WKH VDPH DV WKDW LQ WKH*HQHULF 6HUYLFH 5HTXHVW SURFHVV�

���

Page 122: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

���

Page 123: Hdi Capital Area September 2014 Meeting Slides

5(48(670$1$*(0(17

7KH UHVW RI WKH SURFHVV LV DOVR YHU\ VLPLODU WR WKH *HQHULF 6HUYLFH 5HTXHVW� DQG LQFOXGHV SODFHV ZKHUH \RXFRXOG DGG VWHSV WR LQFOXGH SXUFKDVLQJ DQG GHOLYHU\ SURFHVVHV DV UHTXLUHG�

���

Page 124: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

5HTXHVW 0DQDJHPHQW� $XWRPDWHG 6RIWZDUH 5HTXHVW7KH $XWRPDWHG 6RIWZDUH 5HTXHVW SURFHVV LV D YDULDQW RI WKH 6RIWZDUH 5HTXHVW SURFHVV GHVFULEHG LQ5HTXHVW 0DQDJHPHQW� 6RIWZDUH 5HTXHVW RQ SDJH ���� EXW LQFOXGHV VWHSV WKDW HQDEOH DXWRPDWHG VRIWZDUHSURYLVLRQLQJ E\ LQWHJUDWLRQ ZLWK /$1'(6. 3URFHVV 0DQDJHU �/30� DQG /$1'(6.0DQDJHPHQW 6XLWH�/'06��

:KHQ WKH 5HTXHVW LV LQLWLDOO\ VDYHG� WKH RULJLQDWRU LV QRWLILHG DERXW WKH UHTXHVW� DQG WKH 5HTXHVW HQWHUV WKH$XWKRUL]DWLRQ 6HTXHQFH� 7KH $XWKRUL]DWLRQ 6HTXHQFH DW WKH VWDUW RI WKLV SURFHVV LV WKH VDPH DV WKDW LQ WKH*HQHULF 6HUYLFH 5HTXHVW SURFHVV �VHH 5HTXHVW 0DQDJHPHQW� *HQHULF 6HUYLFH 5HTXHVW RQ SDJH ����

���FRQWLQXHG EHORZ���

���

Page 125: Hdi Capital Area September 2014 Meeting Slides

5(48(670$1$*(0(17

7KH UHVW RI WKH SURFHVV LV YHU\ VLPLODU WR WKH VWDQGDUG 6RIWZDUH 5HTXHVW SURFHVV� EXW LQFOXGHV SODFHV ZKHUHVRIWZDUH FDQ EH DXWRPDWLFDOO\ GHOLYHUHG RU UHPRYHG�

���FRQWLQXHG EHORZ���

���

Page 126: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

,I WKH'HOLYHUHG ZLWK 3URFHVV $XWRPDWLRQ FKHFN ER[ LV VHOHFWHG RQ WKH &, ZLQGRZ IRU WKH &, EHLQJUHTXHVWHG� WKH SURFHVV DXWRPDWLFDOO\ PRYHV WR WKH:DLWLQJ $XWRPDWLRQ VWDWXV DW WKH VWDUW RI WKH3URYLVLRQLQJ 6HTXHQFH� 7KH0DQDJH 6RIWZDUH DFWLRQ DXWRPDWLFDOO\ SRSXODWHV WKH0DQDJH6RIWZDUH REMHFW ZLWK WKH /'06 &RUH� /'06 'HYLFH ,'� /'06 'HYLFH 1DPH� /'06�3DFNDJH ,'�DQG /'06�3DFNDJH 1DPH WKDW DUH UHTXLUHG E\ /$1'(6. 3URFHVV 0DQDJHU WR SURYLGH WKH DXWRPDWHGVRIWZDUH GHOLYHU\�

,I WKH DXWRPDWLRQ VXFFHHGV� WKH &RPSOHWHG DFWLRQ PRYHV WKH SURFHVV LQWR WKH 5HTXHVW )XOILOOHG VHFWLRQRI WKH SURFHVV� ,I WKH DXWRPDWLRQ IDLOV� WKH )DLOHG DFWLRQ PRYHV WKH SURFHVV WR WKH $XWRPDWLRQ )DLOHGVWDWXV� IURP ZKHUH WKH $GG &DQFHOODWLRQ DFWLRQ PRYHV WKH SURFHVV WR WKH &ORVHG VWDWXV�

,Q WKH 5HPRYDO 6HTXHQFH RI WKH SURFHVV� LI WKH'HOLYHUHG ZLWK 3URFHVV $XWRPDWLRQ FKHFN ER[ LVVHOHFWHG RQ WKH &, ZLQGRZ IRU WKH &,� WKH SURFHVV DXWRPDWLFDOO\ PRYHV WR WKH:DLWLQJ 5HPRYDO$XWRPDWLRQ VWDWXV� $V LQ WKH 3URYLVLRQLQJ 6HTXHQFH� WKH0DQDJH 6RIWZDUH DFWLRQ DXWRPDWLFDOO\SRSXODWHV WKH0DQDJH 6RIWZDUH REMHFW ZLWK WKH YDOXHV UHTXLUHG E\ /$1'(6. 3URFHVV 0DQDJHU WR SURYLGHWKH DXWRPDWHG VRIWZDUH UHPRYDO�

,I WKH DXWRPDWLRQ VXFFHHGV� WKH &RQILUP 5HPRYHG DFWLRQ XQOLQNV WKH &, IURP WKH XVHU DQG FORVHV WKHSURFHVV� ,I WKH DXWRPDWLRQ IDLOV� WKH 5HPRYDO )DLOHG DFWLRQ PRYHV WKH SURFHVV WR WKH 5HPRYDO$XWRPDWLRQ )DLOHG VWDWXV� IURP ZKHUH WKH &DQFHO 5HTXHVW DFWLRQ PRYHV WKH SURFHVV WR WKH &ORVHGVWDWXV�

���

Page 127: Hdi Capital Area September 2014 Meeting Slides

5(48(670$1$*(0(17

5HTXHVW 0DQDJHPHQW� 7DVN,I D UHTXHVW LQFRUSRUDWHV D QXPEHU RI DFWLYLWLHV� WKHQ \RX FDQ VXEGLYLGH WKH UHTXHVW XVLQJ RQH RU PRUHWDVNV� 7DVNV FRQWDLQ DFWLRQV WKDW PXVW EH UHVROYHG EHIRUH \RX FDQ FORVH WKH UHTXHVWV� /LNH UHTXHVWV� WDVNVDUH SURFHVVHV �DQG DUH VXE SURFHVVHV RI WKH UHTXHVW�� <RX FDQ DGG 7DVNV DV 2SWLRQDO $FWLRQ ,QVWDQFHV WRDQ\ SURFHVV DV UHTXLUHG� ,I \RX ZDQW WR DGG D 7DVN WR WKH VWDQGDUG FRQILJXUDWLRQ 5HTXHVW SURFHVVHV� \RXFDQ DGG WKH SUHGHILQHG 7DVN SURFHVV LQFOXGHGZLWKLQ WKH GHIDXOW FRQILJXUDWLRQ�

2SWLRQDO DFWLRQV IRU HDFK VWDWXV�

6WDWXV 2SWLRQDO DFWLRQV

2SHQ $GG $VVLJQPHQW$GG 1RWH$GG 5HPLQGHU&UHDWH (VFDODWLRQ 3RLQW6WDUW &ORFN6WRS &ORFN

&RPSOHWHG 1RQH

5HSRUWV5HTXHVW 5HSRUW)LOH QDPH� 5HTXHVW�USW

3XUSRVH� 8VHG WR FUHDWH WKH UHSRUW WKDW LV GLVSOD\HGZKHQ \RX FOLFN WKH SULQW EXWWRQ RQ D5HTXHVW

3DUDPHWHUV� *XLG

)LHOGV GLVSOD\HG� 5HTXHVWHG )RU� 5HTXHVWHG %\� 6HYHULW\� 6WDWXV� %UHDFKHG� /RJJHG 'DWH�$VVLJQHG *URXS� $VVLJQHG $QDO\VW� &DWHJRU\� 6HUYLFH 5HTXHVWHG� 6XPPDU\DQG 1RWHV

���

Page 128: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

4XHULHV127(� 7KHUH LV D OLQNLQJ REMHFW LQ WKH &RQILJXUDWLRQ 0DQDJHPHQWPRGXOH FDOOHG 3XEOLVKHG &RQILJ ,WHP� 7KLVSURYLGHV WKH 3XEOLVKHG 8VHUV FROOHFWLRQ RQ WKH &RQILJXUDWLRQ 0DQDJHPHQW?&RQILJXUDWLRQ ,WHP REMHFW� DQGWKH 3XEOLVKHG &RQILJXUDWLRQ ,WHPV FROOHFWLRQ RQ WKH 6\VWHP?8VHU REMHFW� 7KHVH FROOHFWLRQV HQDEOH \RX WRFUHDWH TXHULHV WR OLVW WKH VHUYLFHV SXEOLVKHG WR D XVHU� DQG WR OLVW WKH XVHUV WKDW D VHUYLFH LV SXEOLVKHG WR�

127(� ,Q DGGLWLRQ WR WKH TXHULHV GHVFULEHG EHORZ� WKHUH DUH GHIDXOW TXHULHV IRU WKH PDLQ REMHFWV LQ WKH 5HTXHVW0DQDJHPHQW PRGXOH� 7KHVH GHIDXOW TXHULHV KDYH QDPHV RI WKH IRUP 5HTXHVW � �REMHFW!� DQG GLVSOD\ WKH 7LWOH�RU 6XPPDU\�� &UHDWHG E\� DQG &UHDWHG GDWH ILHOGV� 7KH\ KDYH QR FULWHULD VSHFLILHG� 'HIDXOW TXHULHV WKDW GLIIHUVLJQLILFDQWO\ IURP WKLV DUH DOVR LQFOXGHG EHORZ�

$OO 5HTXHVWV3XUSRVH� /LVWV DOO VHUYLFH UHTXHVWV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH� 7LWOH� 5HTXHVWHG )RU� &XUUHQW 6WDWXV� &UHDWLRQ 'DWH� 5HTXHVW 7\SH

&ULWHULD� 1RQH

0\ 2SHQ 5HTXHVWV3XUSRVH� /LVWV RSHQ UHTXHVWV ORJJHG E\ WKH FXUUHQW XVHU

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH� 7LWOH� &UHDWLRQ 'DWH

&ULWHULD� 5DLVH 8VHU LV &XUUHQW 8VHU $1' 6WDWXV LV HTXDO WR 2SHQ

0\ 6XEVFULEHG 6HUYLFHV3XUSRVH� /LVWV DOO VHUYLFHV VXEVFULEHG WR E\ WKH FXUUHQW XVHU E\ OLVWLQJ WKH 5HTXHVWV DW D

FRPSOHWLRQ VWDWXV ZKHUH WKH &, UHTXHVWHG LV D UHTXHVW RQFH LWHP

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7LWOH� &UHDWLRQ 'DWH

&ULWHULD� 5DLVH 8VHU LV &XUUHQW 8VHU$1' 6WDWXV�,V &RPSOHWLRQ LV HTXDO WR 7UXH$1'�&RQILJXUDWLRQ ,WHP 5HTXHVWHG�5HTXHVW 2QFH LV HTXDO WR 7UXH

���

Page 129: Hdi Capital Area September 2014 Meeting Slides

5(48(670$1$*(0(17

2SHQ 5HTXHVWV3XUSRVH� $ OLVW RI RSHQ VHUYLFH UHTXHVWV

3URPSWV� 5DLVH 8VHU� 6WDWXV� &UHDWLRQ 'DWH� &DWDORJ +LHUDUFK\ &DWHJRU\

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU� 7LWOH� 5HTXHVWHG )RU� 6WDWXV� &UHDWLRQ 'DWH� 5HTXHVW 7\SH

&ULWHULD� 6WDWXV LV RQH RI� 2SHQ� $FFHVV %HLQJ (QDEOHG� $'�$FFRXQW %HLQJ &UHDWHG�$XWKRUL]HG� $ZDLWLQJ $XWKRUL]DWLRQ� $ZDLWLQJ &RQILUPDWLRQ� $ZDLWLQJ ,7$XWKRUL]DWLRQ� $ZDLWLQJ 0DQDJHU $XWKRUL]DWLRQ� $ZDLWLQJ 6HUYLFH$XWKRUL]DWLRQ� &KHFNLQJ 6WRFN $YDLODELOLW\� 2XW RI 6WRFN� 3DVVZRUG %HLQJ5HVHW� 3URYLVLRQLQJ� 7R:LWKGUDZ�:LWK $VVHW 0DQDJHPHQW 6\VWHP� $ZDLWLQJ%XVLQHVV $XWKRUL]DWLRQ

5HTXHVW ± (VFDODWLRQ 3RLQWV3XUSRVH� 'HIDXOW TXHU\ IRU 5HTXHVW (VFDODWLRQ 3RLQWV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7LWOH� &UHDWHG GDWH� ([SLU\ 'DWH 7LPH� ,V %UHDFK

&ULWHULD� 1RQH

5HTXHVW ± 5HPLQGHUV3XUSRVH� 'HIDXOW TXHU\ IRU 5HTXHVW 5HPLQGHUV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 6XEMHFW� 6HQG 'DWH

&ULWHULD� 1RQH

5HTXHVW ± 7DVN $VVLJQPHQWV3XUSRVH� 'HIDXOW TXHU\ IRU 5HTXHVW 7DVN $VVLJQPHQWV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7LWOH� &UHDWHG E\� 8VHU DVVLJQHG WR� *URXS DVVLJQHG WR� $VVLJQPHQW GDWH

&ULWHULD� 1RQH

5HTXHVW ± 7DVN 5HPLQGHUV3XUSRVH� 'HIDXOW TXHU\ IRU 5HTXHVW 7DVN 5HPLQGHUV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 6XEMHFW� 6HQG 'DWH

&ULWHULD� 1RQH

���

Page 130: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

5HTXHVW /RRNXS3XUSRVH� $ SURPSWHG VHDUFK IRU VHUYLFH UHTXHVWV

3URPSWV� 5DLVH 8VHU� 6WDWXV� &UHDWLRQ 'DWH� &DWDORJ +LHUDUFK\ &DWHJRU\

)LHOGV GLVSOD\HG� 5HIHUHQFH� 7LWOH� 5HTXHVWHG )RU� &XUUHQW 6WDWXV� &UHDWLRQ 'DWH

&ULWHULD� 5DLVH 8VHU LV HTXDO WR �SURPSW XVHU!6WDWXV LV HTXDO WR �SURPSW XVHU!&UHDWLRQ 'DWH LV EHWZHHQ �SURPSW XVHU!&DWDORJ +LHUDUFK\ &DWHJRU\ LV HTXDO WR �SURPSW XVHU!

5HTXHVW 0RGH3XUSRVH� $ OLVW RI %XQGOHV RU 6HUYLFHV LQ 6HUYLFH &DWDORJ

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7LWOH

&ULWHULD� &ODVV 7\SH LV HTXDO WR %XQGOH25 &ODVV 7\SH LV HTXDO WR 6HUYLFH$1' %XVLQHVV 6HUYLFH LV HTXDO WR WUXH$1' ,Q 6HUYLFH &DWDORJ LV HTXDO WR WUXH

5HTXHVW :RUNORDG /LVW3XUSRVH� $ SULRULWL]HG OLVW RI VHUYLFH UHTXHVWV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH� 3ULRULW\� &ODVV� 5HTXHVW 7\SH� 5DLVHG %\� *URXS� $QDO\VW�$VVLJQPHQW 'DWH� $VVLJQPHQW 1XPEHU� 7LWOH� 6WDWXV

&ULWHULD� &XUUHQW $VVLJQPHQW 8VHU LV &XUUHQW 8VHU 25&XUUHQW $VVLJQPHQW *URXS LV &XUUHQW *URXS 25&XUUHQW $VVLJQPHQW *URXS LV QXOO

5HTXHVWV $ZDLWLQJ $XWKRUL]DWLRQ3XUSRVH� /LVWV VHUYLFH UHTXHVWV WKDW DUH DZDLWLQJ DXWKRUL]DWLRQ

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH� 7LWOH� 5HTXHVWHG )RU� &XUUHQW 6WDWXV� &UHDWLRQ 'DWH

&ULWHULD� 6WDWXV FRQWDLQV $XWKRUL]DWLRQ

���

Page 131: Hdi Capital Area September 2014 Meeting Slides

5(48(670$1$*(0(17

5HTXHVWV $ZDLWLQJ 6WRFN &KHFN3XUSRVH� /LVWV VHUYLFH UHTXHVWV WKDW DUH DZDLWLQJ D VWRFN FKHFN

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH� 7LWOH� 5HTXHVWHG )RU� &XUUHQW 6WDWXV� &UHDWLRQ 'DWH

&ULWHULD� 6WDWXV LV HTXDO WR &KHFNLQJ 6WRFN $YDLODELOLW\

5HTXHVWV &ORVHG 7RGD\3XUSRVH� /LVWV VHUYLFH UHTXHVWV WKDW ZHUH FORVHG WRGD\

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU� 6XPPDU\� 5HTXHVWHG )RU� 6WDWXV� &UHDWLRQ 'DWH� 5HTXHVW7\SH

&ULWHULD� &ORVXUHV�&UHDWLRQ 'DWH ,V 7RGD\

5HTXHVWV /RJJHG 7RGD\3XUSRVH� /LVWV VHUYLFH UHTXHVWV WKDW ZHUH ORJJHG WRGD\

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU� 6XPPDU\� 5HTXHVWHG )RU� 6WDWXV� &UHDWLRQ 'DWH� 5HTXHVW7\SH

&ULWHULD� &UHDWLRQ 'DWH ,V 7RGD\

5HTXHVWV WR 3URYLVLRQ3XUSRVH� /LVWV VHUYLFH UHTXHVWV WKDW DUH DZDLWLQJ SURYLVLRQLQJ

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH� 7LWOH� 5HTXHVWHG )RU� &XUUHQW 6WDWXV� &UHDWLRQ 'DWH

&ULWHULD� 6WDWXV LV HTXDO WR 3URYLVLRQLQJ

8QFRQILUPHG 'HOLYHUHG 6HUYLFHV3XUSRVH� /LVWV VHUYLFHV WKDW KDYH EHHQ IXOILOOHG� EXW QRW FRQILUPHG E\ WKH HQG�XVHU

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH� 7LWOH� &UHDWLRQ 'DWH

&ULWHULD� 6WDWXV LV HTXDO WR 8VHU &RQILUPDWLRQ

���

Page 132: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

5HVSRQVH OHYHOV7KH IROORZLQJ UHVSRQVH OHYHOV DUH LQFOXGHG IRU WKH 5HTXHVW 0DQDJHPHQW PRGXOH RI WKH RXW RI WKH ER[GDWDEDVH�

z 3ULRULW\ � � � KRXUV WXUQDURXQG WLPHz 3ULRULW\ � � � KRXUV WXUQDURXQG WLPHz 3ULRULW\ � � �� KRXUV WXUQDURXQG WLPHz 3ULRULW\ � � �� KRXUV WXUQDURXQG WLPHz 3ULRULW\ � � �� KRXUV WXUQDURXQG WLPH

<RX FDQ VHOHFW WKHVH GLUHFWO\ RQ WKH 5HTXHVW ZLQGRZ� (DFK RI WKHVH UHVSRQVH OHYHOV KDV D VLQJOH HVFDODWLRQWKDW WUDFNV WKH LQFLGHQW IURP WKH 2SHQ VWDWXV WR WKH &RPSOHWLRQ VWDWXV W\SH� 7KH HVFDODWLRQ DFWLRQV IRU WKLVHVFDODWLRQ DUH WKH VDPH IRU HDFK UHVSRQVH OHYHO�

z ��� � FKDQJH FRORU WR F\DQz ��� � FKDQJH FRORU WR OLJKW JUHHQz ��� � FKDQJH FRORU WR RUDQJHz ��� � FKDQJH FRORU WR UHGz ���� � FKDQJH FRORU WR SXUSOH DQG QRWLI\ WKH +HOS 'HVN JURXS

$JUHHPHQW UXOHV7KH IROORZLQJ DJUHHPHQW UXOHV DUH LQFOXGHG IRU WKH 5HTXHVW 0DQDJHPHQW PRGXOH RI WKH RXW RI WKH ER[GDWDEDVH�

&DWHJRULHV7KH IROORZLQJ FDWHJRULHV DUH LQFOXGHG LQ WKH RXW RI WKH ER[ GDWDEDVH�

&ORVXUH &DWHJRU\

&DQQRW 5HPRYH&DQQRW 5HPRYH

)XOILOOHG6XFFHVVIXOO\ )XOILOOHG� 1R )XUWKHU $FWLRQ

1RW )XOILOOHG&DQFHOHG E\ /LFHQVH�6WRFN&DQFHOHG LQ 3URYLVLRQLQJ5HMHFWHG E\ %XVLQHVV5HMHFWHG E\ ,75HMHFWHG E\ 0DQDJHPHQW5HMHFWHG E\ 0DQDJHU

5HPRYHG6XFFHVVIXOO\ 5HPRYHG

���

Page 133: Hdi Capital Area September 2014 Meeting Slides

5(48(670$1$*(0(17

2UGHUHG OLVWV7KH IROORZLQJ RUGHUHG OLVWV DUH LQFOXGHG LQ WKH RXW RI WKH ER[ GDWDEDVH�

6HYHULW\

+LJK0HGLXP/RZ

5HTXHVW WHPSODWHV7KH IROORZLQJ WHPSODWHV DUH LQFOXGHG LQ WKH 5HTXHVW 0DQDJHPHQW PRGXOH RI WKH RXW RI WKH ER[ GDWDEDVH�

z $FFHVV 5HTXHVWz $/0�5HTXHVWz +DUGZDUH 5HTXHVWz 1HZ 8VHU 5HTXHVWz 3DVVZRUG 5HVHWz 6RIWZDUH 5HTXHVW

<RX FDQ PRGLI\ WKHP XVLQJ WKH 7HPSODWH 'HVLJQHU FRPSRQHQW�

&DWDORJ +LHUDUFK\ &DWHJRULHV7KH IROORZLQJ &DWDORJ +LHUDUFK\ FDWHJRULHV DUH LQFOXGHG LQ WKH RXW RI WKH ER[ GDWDEDVH�

,7�6HUYLFHV$FFRXQWV%DFNXS(PDLO+RPH $FFHVV,QWHUQHW,QWUDQHW,QYRLFLQJ2UGHULQJ3D\UROO6DOHV

5HTXHVWV$FFHVV 5HTXHVW'HVNWRS 5HORFDWLRQ 5HTXHVW+DUGZDUH 5HTXHVW

1HZ8SJUDGH

3DVVZRUG 5HVHW 5HTXHVW3URYLGH 6WDQGDUG ,7 6HUYLFHV IRU QHZ 8VHU6RIWZDUH 5HTXHVW

���

Page 134: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

:LQGRZ YLHZV7KLV VHFWLRQ GHVFULEHV WKH ZLQGRZ YLHZV WKDW DUH DVVRFLDWHG ZLWK WKH 5HTXHVW 0DQDJHPHQW PRGXOH� <RX ZLOO QHHG WR FRQILJXUH DSSURSULDWH 9LHZ6HOHFWLRQ 5XOHV WR XVH WKHVH ZLQGRZ YLHZV�

127(� )RU PRUH LQIRUPDWLRQ DERXW ZLQGRZ YLHZV� VHH WKH:LQGRZ 0DQDJHU FKDSWHU RI WKH /$1'(6. 6HUYLFH 'HVN 'HVLJQHU *XLGH�

'HIDXOW127(� 1R YDOXH IRU WKH $FWLRQ LV VHW IRU DQ\ YLHZ� DQG DOO YLHZV KDYH WKH2EMHFW 6WDWH VHW WR $Q\�

5HTXHVW 0DQDJHPHQW�5HTXHVW

,QGH[ 3URFHVV :LQGRZ *ULG )RUP� *HQHULF 6HUYLFH 5HTXHVW 6HUYLFH 5HTXHVW 6HUYLFH 5HTXHVW

� %XQGOH 5HTXHVW 6HUYLFH 5HTXHVW 6HUYLFH 5HTXHVW

� 5HTXHVW 7ULDJH 6HUYLFH 5HTXHVW 6HUYLFH 5HTXHVW

(QG 8VHU

5HTXHVW 0DQDJHPHQW�5HTXHVW

,QGH[ 3URFHVV :LQGRZ *ULG )RUP� *HQHULF 6HUYLFH 5HTXHVW (QG 8VHU *HQHUDO 5HTXHVW (QG 8VHU *HQHUDO 5HTXHVW

� %XQGOH 5HTXHVW (QG 8VHU *HQHUDO 5HTXHVW (QG 8VHU *HQHUDO 5HTXHVW

���

Page 135: Hdi Capital Area September 2014 Meeting Slides

+XPDQ 5HVRXUFHV,03257$17� )RU DGGLWLRQDO VHFXULW\� SULYLOHJHV LQ WKH+XPDQ 5HVRXUFHVPRGXOH FDQ EH VHW RQO\ E\ WKH 6$�XVHU�

<RX FDQ ILQG RXW DERXW�

� 3URFHVVHV RQ SDJH ���� 4XHULHV RQ SDJH ���� 5HIHUHQFH OLVWV RQ SDJH ���

Page 136: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

3URFHVVHV+XPDQ 5HVRXUFHV� &KDQJH 5HTXHVW7KH +5 &KDQJH 5HTXHVW SURFHVV LV EHVW XVHG LI \RX KDYH PDGH WKH XVHUV LQ \RXU V\VWHP YHUVLRQDEOH� <RXFDQ WKHQ XVH WKLV SURFHVV WR PDQDJH FKDQJHV WR XVHUV ± IRU H[DPSOH� VDODU\ RU UROH FKDQJHV�

$IWHU ORJJLQJ WKH &KDQJH 5HTXHVW� LW LV DVVLJQHG WR WKH +5 JURXSZKHUH LW LV HLWKHU $SSURYHG RU 5HMHFWHG�:KHQ WKH &KDQJH 5HTXHVW KDV EHHQ $SSURYHG� \RX FDQ DGG WKH DIIHFWHG XVHU�V� WR WKH &KDQJH 5HTXHVW� ,IWKH &KDQJH 5HTXHVW LV 5HMHFWHG� LW FDQ HLWKHU EH &ORVHG RU 5HVXEPLWWHG DIWHU IXUWKHU LQIRUPDWLRQ KDV EHHQDGGHG�

$IWHU DOO RI WKH 7DVNV IRU WKH &KDQJH 5HTXHVW KDYH EHHQ FRPSOHWHG� \RX FDQ VDYH WKH FKDQJHV IRU WKH XVHU�7KLV HQDEOHV \RX WR XSGDWH WKH XVHU UHFRUG GLUHFWO\�

2SWLRQDO DFWLRQV IRU HDFK VWDWXV�

6WDWXV 2SWLRQDO DFWLRQV

2SHQ $GG $WWDFKPHQW

$ZDLWLQJ $SSURYDO $GG $WWDFKPHQW$GG 1RWH$GG 7DVN

���

Page 137: Hdi Capital Area September 2014 Meeting Slides

+80$1 5(6285&(6

6WDWXV 2SWLRQDO DFWLRQV

$ZDLWLQJ 8VHU ,QIRUPDWLRQ $GG $WWDFKPHQW$GG 1RWH$GG 7DVN

$SSURYHG $GG $WWDFKPHQW$GG 1RWH$GG 7DVN$GG 8VHU&RPPLW $OO 8VHUV'HWDFK 8VHU

&DQFHOHG $GG $WWDFKPHQW$GG 1RWH$GG 7DVN$GG 8VHU'HWDFK 8VHU

5HMHFWHG $GG $WWDFKPHQW$GG 1RWH$GG 8VHU'HWDFK 8VHU

&RPSOHWHG 1RQH

&ORVHG 1RQH

+XPDQ 5HVRXUFHV� +5 ,QFLGHQW7KH +5 ,QFLGHQW SURFHVV LV D VLPSOH SURFHVV IRU KDQGOLQJ +5 LQFLGHQWV� <RX FDQ HLWKHU FORVH +5 ,QFLGHQWVGLUHFWO\� RU UHVROYH DQG WKHQ FORVH WKHP VHSDUDWHO\ DV D WZR�VWHS SURFHGXUH� ,I QHHGHG� \RX FDQ UHWXUQUHVROYHG RU FORVHG +5 ,QFLGHQWV WR WKH 2SHQ VWDWXV�

127(� <RX FDQQRW UHVROYH RU FORVH DQ +5 ,QFLGHQW LI WKHUH DUH DQ\ 7DVNV WKDW KDYH QRW EHHQ FRPSOHWHG�

���

Page 138: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

2SWLRQDO DFWLRQV IRU HDFK VWDWXV�

6WDWXV 2SWLRQDO DFWLRQV

2SHQ

$GG $VVLJQPHQW$GG $WWDFKPHQW$GG 1RWH$GG 7DVN

5HVROYHG $GG $WWDFKPHQW$GG 1RWH

&ORVHG 1RQH

���

Page 139: Hdi Capital Area September 2014 Meeting Slides

+80$1 5(6285&(6

+XPDQ 5HVRXUFHV� /HDYHU 3URFHVV7KH /HDYHU 3URFHVV SURYLGHV D EDVLF PHFKDQLVP IRU PDQDJLQJ WKH WHUPLQDWLRQ RI WKH HPSOR\PHQW RI DPHPEHU RI VWDII DW \RXU RUJDQL]DWLRQ�

:KHQ \RX ILUVW ORJ D /HDYHU $FWLYLW\� \RX DUH DVNHG WR SURYLGH FHUWDLQ LQIRUPDWLRQ DERXW WKH OHDYHU� 7KHQ�ZKHQ \RX VDYH WKH FKDQJHV WR WKLV ZLQGRZ� WKH 6HOHFW 2SWLRQDO 5HTXLUHPHQWV ZLQGRZ DSSHDUVDXWRPDWLFDOO\� 7KLV ZLQGRZ HQDEOHV \RX WR VSHFLI\ ZKLFK RSWLRQDO WDVNV ZLOO EH FUHDWHG LQ WKH QH[W SDUW RIWKH SURFHVV LQ DGGLWLRQ WR WKH PDQGDWRU\ WDVNV�

���

Page 140: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

:KHQ \RX VDYH WKLV ZLQGRZ� DOO RI WKH WDVNV UHTXLUHG IRU WKH QH[W SDUW RI WKH SURFHVV� LQFOXGLQJ WKH RSWLRQDOUHTXLUHPHQWV WKDW \RX VSHFLILHG DERYH� DUH FUHDWHG�

127(� )RU PRUH LQIRUPDWLRQ DERXW WKH $FWLYLW\ 7DVNV� VHH +XPDQ 5HVRXUFHV� $FWLYLW\ 7DVNV RQ SDJH ����

:KHQ DOO RI WKHVH WDVNV DUH FRPSOHWHG� WKH SURFHVV FDQ EH FORVHG�

2SWLRQDO DFWLRQV IRU HDFK VWDWXV�

6WDWXV 2SWLRQDO DFWLRQV

2SHQ $GG $WWDFKPHQW

)LQDO 7DVNV $GG $VVLJQPHQW$GG $WWDFKPHQW$GG 1RWH$GG 7DVN

&ORVHG 1RQH

���

Page 141: Hdi Capital Area September 2014 Meeting Slides

+80$1 5(6285&(6

+XPDQ 5HVRXUFHV� 5HFUXLWPHQW 3URFHVV7KH 5HFUXLWPHQW 3URFHVV KHOSV \RX WRPDQDJH WKH UHFUXLWPHQW RI QHZ VWDII LQWR \RXU RUJDQL]DWLRQ�

FRQWLQXHG EHORZ���

���

Page 142: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

7KHUH DUH WKUHH PDLQ VHFWLRQV WR WKLV SURFHVV�

7KH ILUVW VHFWLRQ RI WKH SURFHVV HQDEOHV \RX WR ORJWKH LQLWLDO LQIRUPDWLRQ DERXW WKH QHZ UHFUXLWPHQWUHTXHVW�

���

Page 143: Hdi Capital Area September 2014 Meeting Slides

+80$1 5(6285&(6

7KH VHFRQG VHFWLRQ PDQDJHV DOO RI WKH DSSURYDOVWKDW DUH UHTXLUHG IRU WKH UHFUXLWPHQW UHTXHVW�

7KH ILQDO VHFWLRQ PDQDJHV WKH LQWHUYLHZLQJ VWDJH�

/RJJLQJ WKH UHFUXLWPHQW UHTXHVW

:KHQ \RX ORJ D QHZ 5HFUXLWPHQW UHTXHVW� \RX KDYH WR FRPSOHWH WKH 5HFUXLWPHQW ZLQGRZ� 7KH YDOXHVDYDLODEOH IRU WKH %XVLQHVV 5ROH /RRNXS�5HDVRQ� DQG&RQWUDFW 7\SH OLVW ER[HV DUH FUHDWHG XVLQJ WKH5HIHUHQFH /LVWV WUHH LQ WKH $GPLQLVWUDWLRQ FRPSRQHQW� :KHQ \RX FUHDWH D %XVLQHVV 5ROH� \RX FDQ VSHFLI\ZKHWKHU RU QRW WKH &(2 QHHGV WR DSSURYH WKLV W\SH RI UHFUXLWPHQW� 7KLV YDOXH IRU WKH &(2 $SSURYDO5HTXLUHG" FKHFN ER[ LV WKHQ FRSLHG WR WKH 5HFUXLWPHQW ZLQGRZ ZKHQ \RX FRPSOHWH WKH %XVLQHVV 5ROH/RRNXS OLVW� )RU PRUH LQIRUPDWLRQ� VHH +XPDQ 5HVRXUFHV� 5HFUXLWPHQW 7DVN RQ SDJH ����

���

Page 144: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

,Q WKH'LUHFWRU $SSURYDO )URP OLVW� VHOHFW WKH XVHU ZKR QHHGV WR SURYLGH WKH QHFHVVDU\ UHFUXLWPHQWDSSURYDO� $ 7DVN LV FUHDWHG DQG DVVLJQHG WR WKLV XVHU LQ WKH QH[W VWDJH RI WKH SURFHVV�

,I WKH SRVLWLRQ EHLQJ UHFUXLWHG LV JRLQJ WR EH DQ DQDO\VW LQ WKH V\VWHP� VHOHFW WKH ,7%0 6XSSRUW $QDO\VW"FKHFN ER[� ,I \RX VHOHFW WKLV FKHFN ER[� WKH XVHU FUHDWHG DW WKH HQG RI WKH UHFUXLWPHQW SURFHVV ZLOO EHFUHDWHG DV DQ $QDO\VW� RWKHUZLVH� WKH\ ZLOO EH FUHDWHG DV DQ (QG 8VHU�

$SSURYLQJ WKH UHFUXLWPHQW UHTXHVW

:KHQ WKH UHFUXLWPHQW UHTXHVW KDV EHHQ ORJJHG LW QHHGV WR EH DSSURYHG� 'HSHQGLQJ RQ ZKR ORJJHG LW� DQGWKH EXVLQHVV UROH EHLQJ UHFUXLWHG� XS WR WKUHH DSSURYDOV PD\ EH QHHGHG�

�� ,I WKH UHFUXLWPHQW UHTXHVW ZDV QRW UDLVHG E\ VRPHRQH LQ WKH +5 JURXS� WKHQ WKH UHTXHVW PXVW JHW+5 DSSURYDO� ,I +5 UHMHFW WKH UHTXHVW� D UHPLQGHU LV XVHG WR QRWLI\ WKH RULJLQDWRU RI WKH UHMHFWLRQ DQGWKH UHTXHVW LV FORVHG� ,I +5 DSSURYH WKH UHTXHVW� D 'LUHFWRU $SSURYDO 7DVN LV FUHDWHG DQG DVVLJQHG WRWKH XVHU VHOHFWHG LQ WKH'LUHFWRU $SSURYDO )URP OLVW RQ WKH 5HFUXLWPHQW ZLQGRZ�

�� $OO UHFUXLWPHQW UHTXHVWV QHHG 'LUHFWRU DSSURYDO� <RX RSHQ WKH 'LUHFWRU $SSURYDO 7DVN IURP WKH$FWLYLW\ 7UHH IRU WKH UHFUXLWPHQW UHTXHVW� 7KH 'LUHFWRU FDQ WKHQ HLWKHU $SSURYH RU 5HMHFW WKHUHTXHVW� ,I WKH 'LUHFWRU UHMHFWV WKH UHTXHVW LW LV UHWXUQHG WR +5� ZKR FDQ WKHQ HLWKHU FRQILUP WKHUHMHFWLRQ� RU UHVXEPLW LW DIWHU DGGLQJ IXUWKHU LQIRUPDWLRQ� ,I WKH 'LUHFWRU DSSURYHV WKH UHTXHVW� LWHLWKHU JRHV IRU &(2 $SSURYDO� RU LV DSSURYHG GLUHFWO\�

�� ,I WKH UHFUXLWPHQW UHTXHVW LV IRU D EXVLQHVV UROH WKDW KDV WKH &(2 $SSURYDO 5HTXLUHG FKHFN ER[VHOHFWHG� WKHQ DIWHU 'LUHFWRU DSSURYDO� D &(2 $SSURYDO 7DVN LV FUHDWHG WKDW LV DVVLJQHG WR WKH &(2�VHH +XPDQ 5HVRXUFHV� &(2 $SSURYDO 7DVN RQ SDJH ����� <RX RSHQ WKH &(2 $SSURYDO 7DVN IURP WKH$FWLYLW\ 7UHH IRU WKH UHFUXLWPHQW UHTXHVW� 7KH &(2 FDQ WKHQ HLWKHU $SSURYH RU 5HMHFW WKH UHTXHVW�,I WKH &(2 UHMHFWV WKH UHTXHVW LW LV UHWXUQHG WR +5� ZKR FDQ WKHQ HLWKHU FRQILUP WKH UHMHFWLRQ� RUUHVXEPLW LW DIWHU DGGLQJ IXUWKHU LQIRUPDWLRQ� ,I WKH &(2 DSSURYHV WKH UHTXHVW� LW PRYHV WR WKHLQWHUYLHZLQJ VWDJH�

���

Page 145: Hdi Capital Area September 2014 Meeting Slides

+80$1 5(6285&(6

,QWHUYLHZLQJ

$IWHU WKH UHTXLUHG DSSURYDOV KDYH EHHQ JDLQHG� \RX FDQ VWDUW WKH LQWHUYLHZ VWDJH�<RX FDQ DGG GHWDLOV RI5HFUXLWPHQW $JHQFLHV WKDW \RX KDYH FRQWDFWHG� DQG DGG &DQGLGDWHV�

$ 5HFUXLWPHQW 7DVN LV DGGHG HDFK WLPH D &DQGLGDWH LV DGGHG WR WKH UHFUXLWPHQW UHTXHVW� )RU PRUHLQIRUPDWLRQ DERXW WKH 5HFUXLWPHQW 7DVN� VHH +XPDQ 5HVRXUFHV� 5HFUXLWPHQW 7DVN RQ SDJH ����

:KHQ DOO RI WKH 5HFUXLWPHQW 7DVNV DUH FRPSOHWHG� D QHZ XVHU UHFRUG LV FUHDWHG LQ WKH V\VWHP IRU WKHVXFFHVVIXO FDQGLGDWH�

7KLV XVHU LV FUHDWHG�

z DV HLWKHU DQ $QDO\VW RU DQ (QG 8VHU� GHSHQGLQJ RQ WKH VHWWLQJ RI WKH ,7%0 6XSSRUW $QDO\VW FKHFNER[ RQ WKH 5HFUXLWPHQW 5HTXHVW ZLQGRZ�

z XVLQJ WKH ORJLQ SURSRVHG RQ WKH &DQGLGDWH 'HWDLOV ZLQGRZ�

127(� <RX QHHG WR DVVRFLDWH WKH XVHU WKDW LV FUHDWHG ZLWK WKH UHTXLUHG JURXSV DQG UROHV�

���

Page 146: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

+XPDQ 5HVRXUFHV� 6WDUWHU 3URFHVV7KH 6WDUWHU 3URFHVV SURYLGHV D EDVLF PHFKDQLVP IRU PDQDJLQJ WKH LQGXFWLRQ RI D QHZ PHPEHU RI VWDII DW\RXU RUJDQL]DWLRQ�

7KHUH DUH IRXU PDLQ VHFWLRQV WR WKLV SURFHVV�

7KH ILUVW VHFWLRQ RI WKH SURFHVV HQDEOHV \RX WR ORJ WKH LQLWLDOLQIRUPDWLRQ DERXW WKH QHZ VWDUWHU� DQG WR VHOHFW ZKLFK SDUWV RI WKHSURFHVV ZLOO EH QHHGHG�

���

Page 147: Hdi Capital Area September 2014 Meeting Slides

+80$1 5(6285&(6

7KH VHFRQG VHFWLRQ PDQDJHV DOO RI WKH WDVNV WKDW QHHG WR EHFRPSOHWHG EHIRUH WKH QHZ VWDUWHU¶V ILUVW GD\ RI HPSOR\PHQW�

7KH WKLUG VHFWLRQ PDQDJHV WKH WDVNV WKDW QHHG WR EH FRPSOHWHGDIWHU WKH QHZ VWDUWHU KDV DUULYHG�

7KH ILQDO VHFWLRQ LV FRPSOHWHG DIWHU WKH QHZ VWDUWHU KDV FRPSOHWHGWKHLU SUREDWLRQDU\ SHULRG�

���

Page 148: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

/RJJLQJ WKH 1HZ 6WDUWHU

:KHQ \RX ILUVW ORJ D 1HZ 6WDUWHU $FWLYLW\� \RX DUH DVNHG WR SURYLGH FHUWDLQ LQIRUPDWLRQ DERXW WKH QHZVWDUWHU� VXFK DV ZKR UHTXHVWHG WKH QHZ VWDUWHU DQG VRPH EDVLF LQIRUPDWLRQ DERXW WKH QHZ VWDUWHUWKHPVHOYHV�

127(� ,I WKH QHZ VWDUWHU LV DQ ,7%0 6XSSRUW $QDO\VW� VHOHFW WKH ,7%0 6XSSRUW $QDO\VW FKHFN ER[� 7KLV PDNHV DVXEVHTXHQW DFWLRQ $QDO\VW &UHDWHG� UDWKHU WKDQ (QG 8VHU &UHDWHG�

:KHQ \RX VDYH WKH FKDQJHV WR WKLV ZLQGRZ� WKH 6HOHFW 2SWLRQDO 5HTXLUHPHQWV ZLQGRZ DSSHDUVDXWRPDWLFDOO\� 7KLV HQDEOHV \RX WR VSHFLI\ ZKLFK RSWLRQDO WDVNV ZLOO EH FUHDWHG LQ WKH VHFRQG SDUW RI WKHSURFHVV LQ DGGLWLRQ WR WKH PDQGDWRU\ WDVNV�

:KHQ \RX KDYH FRPSOHWHG WKH 2SWLRQDO 5HTXLUHPHQWV ZLQGRZ \RX QHHG WR FUHDWH WKH QHZ VWDUWHU XVLQJWKH $GPLQLVWUDWLRQ FRPSRQHQW� DQG WKHQ FOLFN WKH $QDO\VW &UHDWHG RU (QG 8VHU &UHDWHG DFWLRQ DVUHTXLUHG�

7KH 3UH�DUULYDO 7DVNV

&RPSOHWLQJ WKH $QDO\VW &UHDWHG RU (QG 8VHU &UHDWHG DFWLRQ FUHDWHV DOO RI WKH WDVNV UHTXLUHG IRU WKHVHFRQG SDUW RI WKH SURFHVV� LQFOXGLQJ WKH RSWLRQDO UHTXLUHPHQWV WKDW \RX VSHFLILHG DERYH�

7KH 1HZ 6WDUWHU SURFHVV FDQQRW FRQWLQXH WR WKH QH[W VWDWXV XQWLO DOO RI WKHVH WDVNV KDYH EHHQ FRPSOHWHG�

���

Page 149: Hdi Capital Area September 2014 Meeting Slides

+80$1 5(6285&(6

7KH 3RVW�DUULYDO 7DVNV

:KHQ DOO RI WKH 3UH�DUULYDO WDVNV KDYH EHHQ FRPSOHWHG DQG WKH QHZ VWDUWHU KDV DUULYHG IRU WKHLU ILUVW GD\ RIZRUN� \RX FDQ FOLFN WKH &RQILUP $UULYDO DFWLRQ� 7KLV DFWLRQ FUHDWHV D IXUWKHU VHW RI WDVNV�

$JDLQ� DOO RI WKHVH WDVNV QHHG WR EH FRPSOHWHG EHIRUH WKH SURFHVV FDQ PRYH WR WKH ILQDO VWDJH�

&RPSOHWLQJ WKH 3UREDWLRQDU\ 3HULRG

:KHQ DOO RI WKH 3RVW�DUULYDO WDVNV KDYH EHHQ FRPSOHWHG DQG WKH QHZ VWDUWHU KDV VDWLVILHG WKHLU SUREDWLRQDU\UHTXLUHPHQWV� \RX FDQ FOLFN WKH &RQILUP )XOO (PSOR\PHQW DFWLRQ� 7KLV DFWLRQ FUHDWHV D ILQDO VHW RI WDVNV�$OWHUQDWLYHO\� LI WKH HPSOR\HH OHDYHV WKH RUJDQL]DWLRQ� \RX FDQ FOLFN WKH 7HUPLQDWH (PSOR\PHQW DFWLRQ�ZKLFK PRYHV WKH SURFHVV WR LWV HQG VWDWXV�

:KHQ DOO RI WKHVH WDVNV DUH FRPSOHWHG� WKH SURFHVV FDQ EH FORVHG�

���

Page 150: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

+XPDQ 5HVRXUFHV� $FWLYLW\ 7DVNV([FHSW IRU WKH $FWLYLW\ 7DVNV IRU WKH 5HFUXLWPHQW SURFHVV �'LUHFWRU $SSURYDO 7DVN� &(2 $SSURYDO 7DVN� DQG5HFUXLWPHQW 7DVN�� DOO RI WKH $FWLYLW\ 7DVN SURFHVVHV SURYLGHG LQ WKH +XPDQ 5HVRXUFHV PRGXOH DUH LQLWLDOO\WKH VDPH� EXW DUH XVHG DW GLIIHUHQW SODFHV LQ WKH PDLQ $FWLYLW\ SURFHVVHV� 7KLV HQDEOHV WKH +XPDQ5HVRXUFHV 9LHZ WR GLVSOD\ GLIIHUHQW &RPSOHWLRQ ZLQGRZV IRU GLIIHUHQW 7DVNV� DQG DOVRPDNHV LW HDVLHU IRU \RXWR FXVWRPL]H VSHFLILF 7DVNV�

127(� <RX DFFHVV WKH WDVNV E\ GRXEOH�FOLFNLQJ WKHP LQ HLWKHU WKH $FWLYLW\ 7UHH RU WKH $FWLYH +5 7DVNV WDE IRU WKHSURFHVV�

&OLFNLQJ&RPSOHWH RQ WKH $FWLRQV OLVW HQDEOHV \RX WR FRPSOHWH WKH DFWLRQ DQG SURYLGH LQIRUPDWLRQ DERXWWKH FRPSOHWLRQ�

7KHUH DUH QR RSWLRQDO DFWLRQV�

���

Page 151: Hdi Capital Area September 2014 Meeting Slides

+80$1 5(6285&(6

+XPDQ 5HVRXUFHV� &(2 $SSURYDO 7DVN7KH &(2 $SSURYDO 7DVN� ZKLFK LV XVHG E\ WKH 5HFUXLWPHQW SURFHVV� VWDUWV ZLWK DQ DVVLJQPHQW� <RX QHHG WRFRQILJXUH WKLV WR EH DVVLJQHG WR \RXU &(2�

7KHUH DUH QR RSWLRQDO DFWLRQV�

+XPDQ 5HVRXUFHV� 'LUHFWRU $SSURYDO 7DVN7KH 'LUHFWRU $SSURYDO 7DVN� ZKLFK LV XVHG E\ WKH 5HFUXLWPHQW SURFHVV� LV DVVLJQHG WR WKH 'LUHFWRU VHOHFWHGRQ WKH 5HFUXLWPHQW ZLQGRZ�

���

Page 152: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

+XPDQ 5HVRXUFHV� 5HFUXLWPHQW 7DVN7KH 5HFUXLWPHQW 7DVN� ZKLFK LV XVHG E\ WKH 5HFUXLWPHQW SURFHVV� PDQDJHV WKH LQWHUYLHZLQJ RI FDQGLGDWHV�

7KH 7DVN LV DVVLJQHG WR WKH +5 JURXS DQG FDQ HLWKHU EH &DQFHOHG� RU KDYH ,QWHUYLHZ 'HWDLOV DGGHG�

7KH YDOXHV IRU WKH ,QWHUYLHZ 7\SH OLVW RQ WKH ,QWHUYLHZ 'HWDLOV ZLQGRZ DUH FUHDWHG XVLQJ D 5HIHUHQFH OLVWLQ WKH $GPLQLVWUDWLRQ FRPSRQHQW� )RU PRUH LQIRUPDWLRQ� VHH 5HIHUHQFH OLVWV RQ SDJH ����

<RX FDQ WKHQ HLWKHU DGG IXUWKHU ,QWHUYLHZ 'HWDLOV� RU DGG WKH ,QWHUYLHZ 2XWFRPH� $IWHU WKH ,QWHUYLHZ2XWFRPH KDV EHHQ FRPSOHWHG� \RX FDQ HLWKHU 5HMHFW WKH &DQGLGDWH� RU $GG 2IIHU 'HWDLOV�

7KH YDOXHV IRU WKH &RQWUDFW 7\SH OLVW RQ WKH 2IIHU 'HWDLOV ZLQGRZ DUH FUHDWHG XVLQJ D 5HIHUHQFH OLVW LQ WKH$GPLQLVWUDWLRQ FRPSRQHQW�)LQDOO\� WKH RIIHU FDQ EH GHFOLQHG RU DFFHSWHG�

���

Page 153: Hdi Capital Area September 2014 Meeting Slides

+80$1 5(6285&(6

4XHULHV$FWLYH +5 7DVNV3XUSRVH� /LVWV DOO +5 WDVNV WKDW KDYH QRW UHDFKHG DQ (QG VWDWXV

3URPSWV� $FWLYLW\ 5HIHUHQFH 1XPEHU

)LHOGV GLVSOD\HG� +5 7LWOH� &UHDWLRQ 'DWH� 6WDWXV� $VVLJQHG *URXS� 7LWOH� $VVLJQHG 8VHU

&ULWHULD� 6WDWXV LV QRW DQ (QG VWDWXV$1'�$FWLYLW\ 5HIHUHQFH 1XPEHU LV HTXDO WR �SURPSW XVHU!

$FWLYLW\ :RUNORDG /LVW3XUSRVH� $ SULRULWL]HG OLVW RI DFWLYLWLHV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 3ULRULW\� &ODVV� /LIHF\FOH� 5HIHUHQFH 1XPEHU� 5DLVHG %\� $VVLJQHG *URXS�$VVLJQHG $QDO\VW� $VVLJQPHQW 'DWH� $VVLJQPHQW 1XPEHU� 7LWOH� 6WDWXV

&ULWHULD� &XUUHQW $VVLJQPHQW 8VHU LV &XUUHQW 8VHU&XUUHQW $VVLJQPHQW�*URXS LV &XUUHQW *URXS&XUUHQW $VVLJQPHQW *URXS LV QXOO

$OO +5 $FWLYLWLHV3XUSRVH� /LVWV DOO +5 $FWLYLWLHV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU� +5 7LWOH� &UHDWLRQ 'DWH� 6WDWXV

&ULWHULD� 1RQH

0\ +5 7DVNV3XUSRVH� /LVWV DOO $FWLYLW\ 7DVNV WKDW DUH DVVLJQHG WR WKH FXUUHQW XVHU RU WR WKH FXUUHQW

JURXSZKHQ QR XVHU LV VSHFLILHG�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7DVN 6XPPDU\� &UHDWLRQ 'DWH� $FWLYLW\ 5HI� 1R�� $FWLYLW\ 5DLVH 8VHU

&ULWHULD� &XUUHQW $VVLJQPHQW LV WKH &XUUHQW 8VHU25�&XUUHQW $VVLJQPHQW LV WKH &XUUHQW *URXS$1'�&XUUHQW $VVLJQPHQW 8VHU LV EODQN

���

Page 154: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

0\ +5 :RUNORDG3XUSRVH� /LVWV DOO $FWLYLWLHV WKDW DUH DVVLJQHG WR WKH FXUUHQW XVHU RU WR WKH FXUUHQW JURXS

ZKHQ QR XVHU LV VSHFLILHG�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 5HIHUHQFH 1XPEHU� 6XPPDU\ � 8VHU 1DPH� &UHDWLRQ 'DWH� 6WDWXV� 5HTXHVWHU

&ULWHULD� &XUUHQW $VVLJQPHQW LV WKH &XUUHQW 8VHU25�&XUUHQW $VVLJQPHQW LV WKH &XUUHQW *URXS$1'�&XUUHQW $VVLJQPHQW 8VHU LV EODQN

7DVNV3XUSRVH� /LVWV DOO $FWLYLW\ 7DVNV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 6HULDO 1XPEHU� 7LWOH� /LIHF\FOH 7LWOH� 6WDWXV

&ULWHULD� 1RQH

5HIHUHQFH OLVWV7KH IROORZLQJ +XPDQ 5HVRXUFHV UHIHUHQFH OLVWV DUH LQFOXGHG LQ WKH RXW RI WKH ER[ GDWDEDVH�

%XVLQHVV 5ROH$GPLQLVWUDWLRQ([HFXWLYH

127(� 7KH %XVLQHVV 5ROH ZLQGRZ LQFOXGHV D &(2 $SSURYDO 5HTXLUHG" FKHFN ER[� ZKLFK VHWV WKH VWDWH RI WKHUHDG�RQO\ &(2 $SSURYDO 5HTXLUHG" FKHFN ER[ RQ WKH 5HFUXLWPHQW ZLQGRZ�

���

Page 155: Hdi Capital Area September 2014 Meeting Slides

+80$1 5(6285&(6

:LQGRZ YLHZV7KLV VHFWLRQ GHVFULEHV WKH ZLQGRZ YLHZV WKDW DUH DVVRFLDWHG ZLWK WKH +XPDQ 5HVRXUFHV PRGXOH� <RX ZLOO QHHG WR FRQILJXUH DSSURSULDWH 9LHZ6HOHFWLRQ 5XOHV WR XVH WKHVH ZLQGRZ YLHZV�

127(� )RU PRUH LQIRUPDWLRQ DERXW ZLQGRZ YLHZV� VHH WKH:LQGRZ 0DQDJHU FKDSWHU RI WKH /$1'(6. 6HUYLFH 'HVN 'HVLJQHU *XLGH�

127(� $OO YLHZV KDYH WKH2EMHFW 6WDWH VHW WR $Q\� DQG QR*ULG )RUP YDOXHV DUH VSHFLILHG�

(QG 8VHU

+XPDQ 5HVRXUFHV�$FWLYLW\

,QGH[ 3URFHVV $FWLRQ :LQGRZ� 6WDUWHU 3URFHVV 6HOHFW 2SWLRQDO 5HTXLUHPHQWV 6HOHFW 2SWLRQDO 5HTXLUHPHQWV

� /HDYHU 3URFHVV 2SWLRQDO /HDYHU 5HTXLUHPHQWV 2SWLRQDO /HDYHU 5HTXLUHPHQWV

� 6WDUWHU 3URFHVV (QG 8VHU &UHDWHG 8VHU &UHDWHG �

� 6WDUWHU 3URFHVV $QDO\VW &UHDWHG 8VHU &UHDWHG �

� 6WDUWHU 3URFHVV � 1HZ -RLQHU

� /HDYHU 3URFHVV � /HDYHU

� &KDQJH 5HTXHVW � 8VHU &KDQJH 5HTXHVW

� +5 ,QFLGHQW � +5 ,QFLGHQW

���

Page 156: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

+XPDQ 5HVRXUFHV�7DVN &RPSOHWLRQ

,QGH[ 3URFHVV $FWLRQ :LQGRZ� (PDLO 7DVN � (PDLO 7DVN &RPSOHWLRQ

� 'HQWDO &DUH 7DVN � 'HQWDO &DUH 7DVN &RPSOHWLRQ

� $SSOLFDWLRQ 7DVN � $SSOLFDWLRQ 7DVN &RPSOHWLRQ

� 3KRQH 7DVN � 3KRQH 7DVN &RPSOHWLRQ

� +HDOWK &DUH 7DVN � +HDOWK &DUH 7DVN &RPSOHWLRQ

� 6KDUH 2SWLRQV 7DVN � 6KDUH 2SWLRQV 7DVN &RPSOHWLRQ

� 3DUNLQJ 7DVN � 3DUNLQJ 7DVN &RPSOHWLRQ

� 3HQVLRQ 7DVN � 3HQVLRQ 7DVN &RPSOHWLRQ

5HFUXLWPHQW

+XPDQ 5HVRXUFHV�$FWLYLW\

,QGH[ 3URFHVV $FWLRQ :LQGRZ� 5HFUXLWPHQW 3URFHVV � 5HFUXLWPHQW

+XPDQ 5HVRXUFHV�$FWLYLW\ 7DVN

,QGH[ 3URFHVV $FWLRQ :LQGRZ� 5HFUXLWPHQW 7DVN � 5HFUXLWPHQW7DVN

���

Page 157: Hdi Capital Area September 2014 Meeting Slides

.QRZOHGJH PDQDJHPHQW<RX FDQ ILQG RXW DERXW�

� 3URFHVVHV RQ SDJH ���� &DWHJRULHV RQ SDJH ���� 2UGHUHG OLVWV RQ SDJH ���

Page 158: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

3URFHVVHV.QRZOHGJH 0DQDJHPHQW� &RUH $UWLFOH$ ZHOO�PDQDJHG NQRZOHGJH PDQDJHPHQW GDWDEDVH LV RQH WKDW KDV LWV FRQWHQWV UHYLHZHG DQG DSSURYHGEHIRUH EHLQJ LQFOXGHG DV D µOLYH¶ DUWLFOH� <RX FUHDWH DUWLFOHV ZKHQ \RX ZDQW WR DGG LQIRUPDWLRQ WR \RXU.QRZOHGJH GDWDEDVH WKDW LV QRW SDUW RI DQ H[LVWLQJ GRFXPHQW DQG VR RQ� $UWLFOHV IROORZ D SURFHVV WR HQVXUHWKDW WKH FRQWHQW LV PRQLWRUHG� PRGHUDWHG� UHOHYDQW DQG VR RQ� <RX QHHG WR FUHDWH DQ DUWLFOH SURFHVV EHIRUH\RX FDQ FUHDWH DUWLFOHV�

)LUVWO\� WKH $UWLFOH LV VXEPLWWHG IRU DSSURYDO� ,I LW LV UHMHFWHG� WKH $UWLFOH PRYHV WR D FORVHG VWDWXV �DOWKRXJKLW FDQ EH UHFUHDWHG LI QHFHVVDU\��

,I WKH $UWLFOH LV DSSURYHG� LW LV DYDLODEOH WR .QRZOHGJH� )URP WKH $SSURYHG VWDWXV� WKH $UWLFOH FDQ EHUHFUHDWHG �IRU H[DPSOH� LI LW QHHGV XSGDWLQJ�� RU UHWLUHG LI LW EHFRPHV REVROHWH�

2SWLRQDO DFWLRQV IRU HDFK VWDWXV�

6WDWXV 2SWLRQDO DFWLRQV

&UHDWHG $GG $WWDFKPHQW$GG &DXVH$GG2EMHFW$GG 5HVROXWLRQ$GG 6\PSWRP$SSURYH5HFUHDWH5HMHFW

6XEPLWWHG $GG $WWDFKPHQW

���

Page 159: Hdi Capital Area September 2014 Meeting Slides

.12:/('*( 0$1$*(0(17

6WDWXV 2SWLRQDO DFWLRQV

$SSURYHG $GG $WWDFKPHQW$GG &RPPHQWV

5HMHFWHG 1RQH

5HWLUHG 1RQH

&DWHJRULHV7KH IROORZLQJ FDWHJRULHV DUH LQFOXGHG LQ WKH RXW RI WKH ER[ GDWDEDVH�

z &RPPHQWz .QRZOHGJH 'RPDLQ &DWHJRU\

2UGHUHG OLVWV7KH IROORZLQJ RUGHUHG OLVW LV LQFOXGHG LQ WKH RXW RI WKH ER[ GDWDEDVH�

z &RPPHQW

���

Page 160: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

���

Page 161: Hdi Capital Area September 2014 Meeting Slides

&RQILJXUDWLRQ 0DQDJHPHQW7KLV VHFWLRQ GHVFULEHV WKH &RQILJXUDWLRQ 0DQDJHPHQW IHDWXUHV RI WKH GDWDEDVH� <RX FDQ ILQG RXW DERXW�

� 4XHULHV RQ SDJH ���� 5HIHUHQFH OLVWV RQ SDJH ���

Page 162: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

4XHULHV$OO %XQGOHV3XUSRVH� /LVWV DOO &,V RI W\SH %XQGOH

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7LWOH� &UHDWLRQ 'DWH

&ULWHULD� &ODVV 7\SH LV HTXDO WR %XQGOH

$OO 5HTXHVWDEOH &,V3XUSRVH� /LVWV &,V WKDW FDQ EH UHTXHVWHG

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7LWOH� &UHDWLRQ 'DWH

&ULWHULD� &ODVV 7\SH LV HTXDO WR %XQGOH25 &ODVV 7\SH LV HTXDO WR 6HUYLFH25 &ODVV 7\SH LV HTXDO WR 6RIWZDUH

$OO 6HUYLFHV3XUSRVH� /LVWV DOO 6HUYLFHV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7LWOH� &UHDWLRQ 'DWH

&ULWHULD� &ODVV 7\SH LV HTXDO WR %XQGOH25 &ODVV 7\SH LV HTXDO WR 6HUYLFH

&, ([FHSWLRQV3XUSRVH� /LVWV &, ([FHSWLRQ DWWULEXWHV� JURXSHG E\ &,� 8VHG DV WKH GHIDXOW TXHU\ IRU

WKH &RQILJXUDWLRQ 0DQDJHPHQW?([FHSWLRQ $WWULEXWH REMHFW� DQG VRXVHG E\ &,�([FHSWLRQ 5HSRUWV FRPSRQHQW�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ([FHSWLRQ� $WWULEXWH� 1HZ 9DOXH� 2OG 9DOXH� 5HDVRQ� 5HDVRQ &DWHJRU\

&ULWHULD� 1RQH

&, /LVW3XUSRVH� /LVWV &,V DORQJVLGH WKHLU ORFDWLRQ LQ WKH 6HUYLFH &DWDORJ +LHUDUFK\

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7LWOH� &DWDORJ +LHUDUFK\ QDPH

&ULWHULD� 1RQH

���

Page 163: Hdi Capital Area September 2014 Meeting Slides

&21),*85$7,21 0$1$*(0(17

&, 6HOHFWLRQ /LVW3XUSRVH� /LVWV &,V JURXSHG E\ &,�W\SH

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7\SH� ,WHP� 0DQXIDFWXUHU� 0RGHO

&ULWHULD� 1RQH

&RQILJ ,WHP DQG *URXS3XUSRVH� /LVWV WKH &,�DQG 7\SH IRU HDFK JURXS� 6XLWDEOH WR XVH RQ WKH*URXSV VXE�WDE

RQ WKH 3XEOLVKLQJ WDE RI WKH 6HUYLFH &DWDORJ FRPSRQHQW�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� &RQILJXUDWLRQ ,WHP� &,�7\SH� *URXS

&ULWHULD� 1RQH

&RQILJ ,WHP DQG 5ROH3XUSRVH� /LVWV WKH &,�DQG 7\SH IRU HDFK UROH� 6XLWDEOH WR XVH RQ WKH 5ROHV VXE�WDE RQ

WKH 3XEOLVKLQJ WDE RI WKH 6HUYLFH &DWDORJ FRPSRQHQW�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� &RQILJXUDWLRQ ,WHP� &,�7\SH� 5ROH

&ULWHULD� 1RQH

5HTXHVW 0RGH3XUSRVH� /LVWV %XVLQHVV 6HUYLFHV WKDW DUH LQ WKH 6HUYLFH &DWDORJ� 6XLWDEOH WR XVH RQ

WKH 5HTXHVW 0RGH WDE RI WKH 6HUYLFH &DWDORJ FRPSRQHQW�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7LWOH

&ULWHULD� &ODVV 7\SH LV HTXDO WR %XQGOH25 &ODVV 7\SH LV HTXDO WR 6HUYLFH$1' %XVLQHVV 6HUYLFH LV HTXDO WR 7UXH$1' ,Q 6HUYLFH &DWDORJ LV HTXDO WR 7UXH

66 &, /RRNXS3XUSRVH� $ OLVW RI DOO &,V� ,QWHQGHG IRU XVH ZLWK 6HOI 6HUYLFH�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 1DPH� 7LWOH� &UHDWLRQ 'DWH� &, 7\SH� 9HUVLRQ�

&ULWHULD� 1RQH

���

Page 164: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

8VHU 6XEVFULSWLRQV3XUSRVH� /LVWV VHUYLFHV OLQNHG WR WKH VHOHFWHG XVHU

3URPSWV� 8VHU

)LHOGV GLVSOD\HG� &,�6HULDO 1XPEHU� &, 7LWOH� &,�7\SH� 5HTXHVW 2QFH"� &DWDORJ +LHUDUFK\

&ULWHULD� 8VHU LV HTXDO WR �SURPSW XVHU!$1' &RQILJXUDWLRQ ,WHP�,Q 6HUYLFH &DWDORJ LV HTXDO WR 7UXH$1' &RQILJXUDWLRQ ,WHP�%XVLQHVV 6HUYLFH LV HTXDO WR 7UXH

5HIHUHQFH OLVWV7KH IROORZLQJ UHIHUHQFH OLVWV DUH LQFOXGHG LQ WKH RXW RI WKH ER[ GDWDEDVH�

&RQILJXUDWLRQ ,WHP 7\SH 5HIHUHQFH$VVHW%XQGOH&RQILJXUDWLRQ ,WHP/DSWRS0RELOH 'HYLFH0RQLWRU3ULQWHU6HUYLFH6RIWZDUH6RIWZDUH /LFHQVH:RUNVWDWLRQ

���

Page 165: Hdi Capital Area September 2014 Meeting Slides

$VVHW 0DQDJHPHQW7KLV VHFWLRQ GHVFULEHV WKH $VVHW 0DQDJHPHQW IHDWXUHV RI WKH GDWDEDVH� <RX FDQ ILQG RXW DERXW�

� 4XHULHV RQ SDJH ���� 5HIHUHQFH OLVWV RQ SDJH ���

Page 166: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

4XHULHV66 &, /RRNXS3XUSRVH� /LVWV DOO &,V� 6XLWDEOH IRU XVH LQ 6HOI 6HUYLFH3URPSWV� 1RQH)LHOGV GLVSOD\HG� 1DPH� 7LWOH� &UHDWLRQ 'DWH� $VVHW &ODVV 7\SH� &XUUHQW 9HUVLRQ 1XPEHU&ULWHULD� 1RQH

5HIHUHQFH OLVWV7KH IROORZLQJ UHIHUHQFH OLVWV DUH LQFOXGHG LQ WKH RXW RI WKH ER[ GDWDEDVH�

6HUYLFH 7\SH$SSOLFDWLRQ%XVLQHVV,QIUDVWUXFWXUH1HWZRUN

���

Page 167: Hdi Capital Area September 2014 Meeting Slides

$66(70$1$*(0(17

:LQGRZ YLHZV7KLV VHFWLRQ GHVFULEHV WKH ZLQGRZ YLHZV WKDW DUH DVVRFLDWHG ZLWK WKH $VVHW 0DQDJHPHQW PRGXOH� <RX ZLOO QHHG WR FRQILJXUH DSSURSULDWH 9LHZ6HOHFWLRQ 5XOHV WR XVH WKHVH ZLQGRZ YLHZV�

127(� )RU PRUH LQIRUPDWLRQ DERXW ZLQGRZ YLHZV� VHH WKH:LQGRZ 0DQDJHU FKDSWHU RI WKH /$1'(6. 6HUYLFH 'HVN 'HVLJQHU *XLGH�

(QG 8VHU

$VVHW 0DQDJHPHQW�6HUYLFH

,QGH[ 3URFHVV $FWLRQ 2EMHFW 6WDWH :LQGRZ *ULG )RUP� � � $Q\ (QG8VHU6HUYLFH'HVFULSWLRQ (QG8VHU6HUYLFH'HVFULSWLRQ

���

Page 168: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

���

Page 169: Hdi Capital Area September 2014 Meeting Slides

6\VWHP7KLV VHFWLRQ GHVFULEHV WKH V\VWHP�ZLGH IHDWXUHV RI WKH GDWDEDVH� DQG WKH SURFHVVHV LQ WKH 6\VWHP PRGXOH�<RX FDQ ILQG RXW DERXW�

� 3URFHVVHV RQ SDJH ���� 5HSRUWV RQ SDJH ���� 4XHULHV RQ SDJH ���� 2UGHUHG OLVWV RQ SDJH ���� 5HIHUHQFH OLVWV RQ SDJH ���� &DOHQGDUV RQ SDJH ���� $VVHW W\SHV RQ SDJH ���

Page 170: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

3URFHVVHV6\VWHP� &XVWRPHU *URXS7KH &XVWRPHU *URXS SURFHVV HQDEOHV \RX WR WUDFN ZKLFK FXVWRPHUV \RX KDYH� DQG HQDEOH \RX WR VHH DWZKLFK VWDWH WKHVH FXVWRPHUV DUH� (DFK RI \RXU FXVWRPHUV FDQ VWDUW RII DV D SURVSHFWLYH FXVWRPHU� DQG WKHQ\RX PDQDJH WR FRQYHUW WKHP LQWR \RXU FXVWRPHU� $W VRPH VWDJH� \RXU FXVWRPHU PD\ GHFLGH WKDW WKH\ QRORQJHU ZDQW WR GR EXVLQHVV ZLWK \RX� DQG WKHUHIRUH WKH\ EHFRPH DQ H[�FXVWRPHU�

2SWLRQDO DFWLRQV IRU HDFK VWDWXV�

6WDWXV 2SWLRQDO DFWLRQV

6XVSHFW $GG &RQWDFW$GG &XVWRPHU &RQILJXUDWLRQ ,WHP

&XVWRPHU $GG &RQWDFW$GG &XVWRPHU &RQILJXUDWLRQ ,WHP

([�&XVWRPHU 1RQH

���

Page 171: Hdi Capital Area September 2014 Meeting Slides

6<67(0

5HSRUWV6WDQGDUG &U\VWDO 5HSRUWV127(� $OO WKH FULWHULD IRU WKH UHSRUWV ZLOO EH WKH SDUDPHWHUV RQO\�

5HSRUWV WKDW KDYH *8,' DV WKHLU SDUDPHWHU DUH W\SLFDOO\ UXQ ZKLOVW \RX DUH ZRUNLQJ RQ D VSHFLILF ZLQGRZZLWKLQ 6HUYLFH 'HVN� )RU H[DPSOH� ZKHQ ZRUNLQJ RQ D VWDQGDUG LQFLGHQW� ZKHQ \RX FOLFN WKH 3ULQW EXWWRQRQ WKH WRROEDU� WKH ,QFLGHQW 5HSRUW LV DXWRPDWLFDOO\ JHQHUDWHG DQG SULQWHG IRU \RX�

127(� 6RPH RI WKH UHSRUWV QHHG DGGLWLRQDO DWWULEXWHV DGGLQJ WR WKH GDWDEDVH�

$XWR (PDLO 5HSRUW)LOH QDPH� $XWR(PDLO5HSRUW�USW

3XUSRVH� 7KLV UHSRUW QRWLILHV \RX DERXW DOO WKH SURFHVVHV DQG LV WKH UHSRUW ZKLFK JHWVDXWRPDWLFDOO\ HPDLOHG

3DUDPHWHUV� 3URFHVV,'� &ODVV7\SH1DPH DQG 5DLVH8VHU1DPH

)LHOGV GLVSOD\HG� 3URFHVV,'� 7LWOH� 'HVFULSWLRQ� 5DLVH'DWH� 5DLVH8VHU

0HDQ 7LPH %HWZHHQ )DLOXUHV � 'DWH 5DQJH 5HSRUW)LOH QDPH� 0HDQ7LPH%HWZHHQ)DLOXUHV � 'DWH 5DQJH�USW

3XUSRVH� 7R UHSRUW RQ WKH WLPH GLIIHUHQFH EHWZHHQ ZKHQ WKH ODVW LQFLGHQW RFFXUUHG IRUD VSHFLILF &RQILJXUDWLRQ ,WHP DQGZKHQ WKH QH[W RQH RFFXUV� ,W DOVR UHSRUWVRQ WKH DYHUDJH WLPH LW WDNHV WR UHSDLU� $ 'DWH 5DQJH FDQ EH VSHFLILHG E\ WKHXVHU�

3DUDPHWHUV� &,� &,7\SH� )URP'DWH DQG 7R'DWH

)LHOGV GLVSOD\HG� ,'� 7LWOH� 6WDWXV� 'DWH�7LPH /RJJHG� 'DWH�7LPH 5HVROYHG� 7LPH WR 5HVROYH�0HDQ 7LPH EHWZHHQ )DLOXUHV� 0HDQ 7LPH WR 5HSDLU� 7RWDO 0HDQ 7LPHEHWZHHQ )DLOXUHV DQG 7RWDO 0HDQ 7LPH WR 5HSDLU

0HDQ 7LPH %HWZHHQ )DLOXUHV ± <HDUO\ 7UHQG 5HSRUW)LOH QDPH� 0HDQ7LPH%HWZHHQ)DLOXUHV � <HDUO\ 7UHQG�USW

3XUSRVH� 7R UHSRUW RQ WKH WLPH GLIIHUHQFH EHWZHHQ ZKHQ WKH ODVW LQFLGHQW RFFXUUHG IRUD VSHFLILF PRQWK DQGZKHQ WKH QH[W RQH RFFXUV� ,W DOVR UHSRUWV RQ WKHDYHUDJH WLPH LW WDNHV WR UHSDLU� 7KLV UHSRUW RQ WKH ODVW \HDU¶V UHVXOWV

3DUDPHWHUV� &, DQG &,7\SH

)LHOGV GLVSOD\HG� 0RQWK � <HDU� 1XPEHU RI ,QFLGHQWV� 07%)� 0775� 7RWDO 0HDQ 7LPH EHWZHHQ)DLOXUHV DQG 7RWDO 0HDQ 7LPH WR 5HSDLU

���

Page 172: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

7DVN UHSRUW)LOH QDPH� 7DVN�USW3XUSRVH� 8VHG WR FUHDWH WKH UHSRUW WKDW LV GLVSOD\HGZKHQ \RX FOLFN WKH SULQW EXWWRQ RQ

D WDVN GLVSOD\HG LQ WKH 6HUYLFH 'HVN FRQVROH3URPSWV� *XLG)LHOGV GLVSOD\HG� /RJJHG %\� 6HYHULW\� 6WDWXV� %UHDFKHG� /RJJHG 'DWH� $VVLJQHG *URXS�

$VVLJQHG $QDO\VW� &DWHJRU\� 6XPPDU\ DQG 1RWHV

127(� 7KLV UHSRUW LV QRW VXSSRUWHG E\ :HE $FFHVV� $OVR� WKLV UHSRUW FRQWDLQV VXEUHSRUWV� VR \RX QHHG WR XVH&U\VWDO 5HSRUWV WR VHW WKH GDWD VRXUFH ORFDWLRQ ERWK IRU WKH UHSRUW DQG LWV VXEUHSRUWV� )RU PRUH LQIRUPDWLRQ� VHH WKH/$1'(6. 6HUYLFH 'HVN 6HWXS *XLGH DQG WKH GRFXPHQWDWLRQ VXSSOLHG ZLWK &U\VWDO 5HSRUWV�

4XHULHV$OO 1RWLFHV3XUSRVH� /LVWV DOO 1RWLFHERDUG ,WHPV� )RU XVH ZLWK 6HOI 6HUYLFH�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7LWOH� &DWHJRU\� &UHDWLRQ 'DWH� ([SLU\ 'DWH� 3XEOLF &DWHJRU\

&ULWHULD� 1RQH

$OO 3URFHVVHV3XUSRVH� /LVWV DOO SURFHVVHV �IRU H[DPSOH� LQFLGHQWV� SUREOHPV� WDVNV DQG FKDQJHV�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� /DVW 8SGDWHG %\� ,'� 7LWOH� 6WDWXV� 8VHU� /LIHF\FOH

&ULWHULD� 1RQH

$VVLJQPHQWV3XUSRVH� /LVWV DOO DVVLJQPHQWV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 3URFHVV $VVLJQPHQW 1XPEHU� 6WDWXV� 8VHU� *URXS� 5ROH

&ULWHULD� 1RQH

&ODVV 7\SH 'HWDLOV3XUSRVH� /LVWV &ODVV 7\SHV DQG 'HWDLOV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� &ODVV 7\SH� &ODVV 1DPH� ,V /LIHF\FOH &ODVV� 6XSHU &ODVV 7\SH� 7DEOH� 7DEOH1DPH� 7DEOH 6FKHPD� &OLHQW &ODVV� 0RGXOH� 0RGXOH 7LWOH� 0RGXOH 1DPH�1DPH� &ODVV� 'HILQHG %\� 7LWOH

&ULWHULD� 1RQH

���

Page 173: Hdi Capital Area September 2014 Meeting Slides

6<67(0

&ODVV 7\SH 6XPPDU\3XUSRVH� /LVWV &ODVV 7\SHV 6XPPDU\

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,V /LIHF\FOH &ODVV� 7DEOH 1DPH� 7DEOH� 'HILQHG %\� 0RGXOH 7LWOH� 0RGXOH� 7LWOH

&ULWHULD� 1RQH

&XVWRPHU *URXS3XUSRVH� /LVWV FXVWRPHUV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7LWOH� 1DPH� 7\SH

&ULWHULD� 1RQH

'HOHWHG 8VHUV3XUSRVH� /LVWV DOO VRIW GHOHWHG XVHUV�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 8VHU 7LWOH� &XUUHQW *URXS� 'HOHWH 'DWHWLPH� /DVW XSGDWHG E\

&ULWHULD� 'HOHWH 'DWHWLPH LV QRW 1XOO

(VFDODWLRQ 3RLQW3XUSRVH� /LVWV DOO HVFDODWLRQ SRLQWV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 6HULDO 1XPEHU� 7LWOH� ([SLU\ 'DWH 7LPH

&ULWHULD� 1RQH

0\ &XUUHQW $FWLYLW\3XUSRVH� /LVWV DOO SURFHVVHV UDLVHG E\ WKH FXUUHQW XVHU WKDW DUH VWLOO RSHQ

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,'� 7LWOH� &UHDWLRQ GDWH� 6WDWXV

&ULWHULD� 5DLVH 8VHU ,V &XUUHQW 8VHU6WDWXV�,V &RPSOHWLRQ ,V (TXDO 7R �IDOVH�6WDWXV�,V (QG ,V (TXDO 7R �IDOVH�

���

Page 174: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

2XWERXQG 0DLO 4XHXH3XUSRVH� /LVWV HQWULHV LQ WKH 0HVVDJH 5HFLSLHQW WDEOH� VR WKDW \RX FDQ SHULRGLFDOO\

FOHDU WKH WDEOH WR LPSURYH SHUIRUPDQFH

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 0HVVDJH 6XEMHFW� ,V (PDLO 6HQW� (PDLO )DLOHG

&ULWHULD� 'DWH 6HQW LV ROGHU WKDQ � ZHHN25 ,V (PDLO 6HQW LV HTXDO WR 7UXH25 (PDLO )DLOHG LV HTXDO WR 7UXH

3ULYDWH 1RWLFHV3XUSRVH� /LVWV DOO 1RWLFHERDUG ,WHPV� )RU XVH ZLWK 6HOI 6HUYLFH�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7LWOH� &DWHJRU\� &UHDWLRQ 'DWH� ([SLU\ 'DWH

&ULWHULD� 3XEOLF &DWHJRU\ LV HTXDO WR )DOVH

3URFHVV /LVW3XUSRVH� $ SULRULWL]HG OLVW RI DOO SURFHVVHV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 3ULRULW\� &ODVV� /LIHF\FOH� ,'� 5DLVHG %\� $VVLJQHG *URXS� $VVLJQHG $QDO\VW�$VVLJQPHQW 'DWH� $VVLJQPHQW 1XPEHU� 7LWOH� 6WDWXV

&ULWHULD� 1RQH

3XEOLF 1RWLFHV3XUSRVH� /LVWV DOO 1RWLFHERDUG ,WHPV� )RU XVH ZLWK 6HOI 6HUYLFH�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7LWOH� &DWHJRU\� &UHDWLRQ 'DWH� ([SLU\ 'DWH

&ULWHULD� 3XEOLF &DWHJRU\ LV HTXDO WR 7UXH

���

Page 175: Hdi Capital Area September 2014 Meeting Slides

6<67(0

6HDUFK ,3&3XUSRVH� $ SURPSWHG TXHU\ WKDW OLVWV PDWFKLQJ ,QFLGHQWV� 3UREOHPV� DQG &KDQJHV

3URPSWV� 6WDWXV,'7LWOH5DLVH 8VHU&UHDWLRQ 'DWH

)LHOGV GLVSOD\HG� ,'� 7LWOH� 5DLVHG %\� &UHDWHG 'DWH� 6WDWXV� 7\SH RI SURFHVV

&ULWHULD� &ODVV 7\SH�7LWOH LV RQH RI &KDQJH� ,QFLGHQW� 3UREOHP$1' 6WDWXV LV HTXDO WR �SURPSW XVHU!$1' ,G LV HTXDO WR �SURPSW XVHU!$1' 7LWOH LV HTXDO WR �SURPSW XVHU!$1' 5DLVH 8VHU�7LWOH LV HTXDO WR �SURPSW XVHU!$1' &UHDWLRQ 'DWH LV HTXDO WR �SURPSW XVHU!

66 $OO :RUN3XUSRVH� $ OLVW RI DOO SURFHVVHV� ,QWHQGHG IRU XVH ZLWK 6HOI 6HUYLFH�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,'� 5DLVHG 'DWH� 7LWOH� 6WDWXV� 5DLVHG %\� /DVW 8SGDWHG %\� /LIHF\FOH 7LWOH�'HVFULSWLRQ�

&ULWHULD� 1RQH

66 &UHDWHG %\ &XUUHQW *URXS3XUSRVH� $ OLVW RI DOO SURFHVVHV WKDW ZHUH FUHDWHG E\ WKH XVHUV FXUUHQW JURXS�

,QWHQGHG IRU XVH ZLWK 6HOI 6HUYLFH�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,'� 5DLVHG 'DWH� 7LWOH� 6WDWXV� 5DLVHG %\� /DVW 8SGDWHG %\� /LIHF\FOH 7LWOH�'HVFULSWLRQ�

&ULWHULD� &UHDWH *URXS LV &XUUHQW *URXS

66 /DVW 8SGDWHG %\ &XUUHQW *URXS3XUSRVH� /LVW SURFHVVHV ZKHUH WKH ODVW XSGDWH ZDVPDGH E\ WKH XVHUV FXUUHQW JURXS�

,QWHQGHG IRU XVH ZLWK 6HOI 6HUYLFH�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� ,'� GDWH RI /DVW 8SGDWH� 7LWOH� 6WDWXV� 5DLVHG %\� /DVW 8SGDWHG %\� /LIHF\FOH7LWOH� 'HVFULSWLRQ�

&ULWHULD� 8SGDWH *URXS LV &XUUHQW *URXS

���

Page 176: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

6XSHU 8VHU :RUNORDG /LVW3XUSRVH� $ SULRULWL]HG OLVW RI DOO SURFHVVHV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 3ULRULW\� &ODVV� /LIHF\FOH� ,'� 5DLVHG %\� $VVLJQHG *URXS� $VVLJQHG $QDO\VW�$VVLJQPHQW 'DWH� $VVLJQPHQW 1XPEHU� 7LWOH� 6WDWXV

&ULWHULD� 1RQH

8VHU 6HVVLRQV3XUSRVH� /LVWV DOO ORJJHG LQ XVHUV� LQFOXGLQJ WKRVH ZKR KDYH QRW H[LWHG WKH SURJUDP

SURSHUO\ �IRU H[DPSOH� GXH WR D FRPSXWHU IDLOXUH�� ,I DQ DQDO\VW ZLWK DFRQFXUUHQW OLFHQVH GRHV QRW H[LW WKH SURJUDP SURSHUO\� WKHQ WKHLU OLFHQVH LVQRW UHOHDVHG DQG LV QRW DYDLODEOH IRU UHDOORFDWLRQ� ,I WKLV KDSSHQV� WKHQ LI \RXKDYH WKH UHOHYDQW SULYLOHJH� \RX FDQ PDQXDOO\ UHOHDVH WKH OLFHQVH XVLQJ WKH8VHU 6HVVLRQV TXHU\�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 8VHU� *URXS� &OLHQW 7\SH� /DVW $FWLYH� 6WDUW 7LPH� (QG 7LPH

&ULWHULD� $1' &OLHQW 7\SH LV 2QH 2I ��� ��

8VHUV JURXSHG E\ /LFHQVH 7\SH3XUSRVH� /LVWV DOO XVHUV JURXSHG E\ WKH W\SH RI OLFHQVH WKH\ KDYH EHHQ DOORFDWHG�

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 7LWOH� 8VHU 7\SH� 3ULPDU\ *URXS

*URXSLQJ� 8VHU /LFHQVH 7\SH

:RUNORDG /LVW3XUSRVH� $ SULRULWL]HG OLVW RI DOO SURFHVVHV

3URPSWV� 1RQH

)LHOGV GLVSOD\HG� 3ULRULW\� &ODVV� /LIHF\FOH� ,'� 5DLVHG %\� $VVLJQHG *URXS� $VVLJQHG $QDO\VW�$VVLJQPHQW 'DWH� $VVLJQPHQW 1XPEHU� 7LWOH� 6WDWXV

&ULWHULD� 1RQH

2UGHUHG OLVWV7KH IROORZLQJ RUGHUHG OLVWV DUH LQFOXGHG LQ WKH RXW RI WKH ER[ GDWDEDVH�

3ULRULW\3ULRULW\ �3ULRULW\ �3ULRULW\ �3ULRULW\ �

���

Page 177: Hdi Capital Area September 2014 Meeting Slides

6<67(0

5HIHUHQFH OLVWV7KH IROORZLQJ UHIHUHQFH OLVWV DUH LQFOXGHG LQ WKH RXW RI WKH ER[ GDWDEDVH�

$/0 &RVW &HQWHU

$/0 )LQDQFH *URXS

$/0 +DUGZDUH ,WHP

$/0 +DUGZDUH 6HULHV

&DU 3DUN

'HQWDO &DUH 7\SH

+HDOWK &DUH 7\SH

,QWHUYLHZ 7\SH

)DFH WR )DFH7HOHSKRQH

/RFDWLRQ

5HFUXLWPHQW 3HUP7HPS

3HUPDQHQW7HPSRUDU\

5HFUXLWPHQW 5HDVRQ

,QFUHDVH +HDG &RXQW0DWHUQLW\ &RYHU

&DOHQGDUV7KH IROORZLQJ FDOHQGDU �DOO WLPHV LQ *07� LV LQFOXGHG LQ WKH RXW RI WKH ER[ GDWDEDVH�

'HIDXOW:$51,1*� <RX VKRXOG QHYHU PRGLI\ WKH GHIDXOW FDOHQGDU�

'D\ 7LPH 6WDUW 7LPH (QG6XQGD\0RQGD\ �������� ��������7XHVGD\ �������� ��������:HGQHVGD\ �������� ��������7KXUVGD\ �������� ��������)ULGD\ �������� ��������6DWXUGD\

���

Page 178: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

$VVHW W\SHV7KH IROORZLQJ DVVHW W\SHV DQG DVVRFLDWHG ZLQGRZV DUH LQFOXGHG LQ WKH RXW RI WKH ER[ GDWDEDVH�

z $VVHWz %XQGOHz /DSWRSz 0RELOH 'HYLFHz 0RQLWRUz 3ULQWHUz 6HUYLFHz 6RIWZDUHz 6RIWZDUH /LFHQVHz :RUNVWDWLRQ

���

Page 179: Hdi Capital Area September 2014 Meeting Slides

8VHUV� JURXSV� DQG UROHV<RX FDQ ILQG RXW DERXW�

� 6WDQGDUG XVHUV RQ SDJH ���� 6WDQGDUG JURXSV RQ SDJH ���� 6WDQGDUG UROHV RQ SDJH ���

Page 180: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

6WDQGDUG XVHUV7KHUH DUH QR XVHUV RI W\SH $FFRXQW 0DQDJHU� &RQWDFW� RU (QG 8VHU LQ WKH GHIDXOW RXW RI WKH ER[ GDWDEDVH�7KHUH DUH� KRZHYHU� VRPH DQDO\VW DFFRXQWV DOUHDG\ FUHDWHG�

$QDO\VWV7KH VWDQGDUG DQDO\VWV KDYH QR &,V RU *URXSV DVVRFLDWHG ZLWK WKHP E\ GHIDXOW� +RZHYHU� WKH\ DUHDVVRFLDWHG ZLWK WKH IROORZLQJ UROHV�

$QDO\VW $VVLJQHG UROHV

*XHVW *XHVWV

6$ $GPLQLVWUDWRUV

(QG 8VHUV$ 6HOI6HUYLFH*XHVW HQG XVHU LV LQFOXGHG� ,W KDV QR &,V� JURXSV� RU UROHV DVVRFLDWHG ZLWK LW� 7KLV XVHU LVVXLWDEOH WR XVH WR SURYLGH D ZHOFRPH SDJH IRU 6HOI 6HUYLFH LI \RX DUH QRW XVLQJ LQWHJUDWHG ORJLQ� <RX QHHG WRDVVRFLDWH LW WKH 6HOI 6HUYLFH $QRQ\PRXV XVHU�

6\VWHP 8VHUV$ 6\VWHP 8VHU FDOOHG6\VWHP LV LQFOXGHG� 6\VWHP 8VHUV GR QRW XVH D OLFHQVH DQG FDQ EH XVHG RQO\ DV WKHXVHU DFFRXQW IRU DSSOLFDWLRQ VHUYLFHV VXFK DV 0DLO 0DQDJHU� 6\VWHP 8VHU DFFRXQWV FDQQRW EH XVHG WR ORJ LQWR D 6HUYLFH 'HVN DSSOLFDWLRQ�

6WDQGDUG JURXSV7KHUH DUH QR SULYLOHJHV DVVRFLDWHG ZLWK DQ\ JURXSV � DOO SULYLOHJHV LQ WKH RXW RI WKH ER[ GDWDEDVH DUHSURYLGHG WKURXJK UROHV�

*URXSV7KH IROORZLQJ JURXSV DUH LQ WKH GHIDXOW RXW RI WKH ER[ GDWDEDVH�

*URXS 7\SH *URXS

6XSSRUW *URXS $VVHW &RQILJXUDWLRQ$VVHW 0DQDJHPHQW(GXFDWLRQ)DFLOLWLHV+HOS 'HVN+5,73D\UROO5HFHSWLRQ5HOHDVH 0DQDJHPHQW

&RPSDQ\ 2XU &RPSDQ\

6XSSOLHU 1RQH

&XVWRPHU 6HOI6HUYLFH8VHUV

���

Page 181: Hdi Capital Area September 2014 Meeting Slides

86(56� *52836� $1' 52/(6

6WDQGDUG UROHV7KHUH DUH QR UROHV RI W\SHV $FFRXQW 0DQDJHU RU &RQWDFW�

127(� )RU PRUH LQIRUPDWLRQ RQ ZKLFK XVHUV DUH DVVLJQHG WR HDFK UROH E\ GHIDXOW� VHH 6WDQGDUG XVHUV RQ SDJH ����

127(� 7KH SULYLOHJLQJ LQ 6HUYLFH 'HVN LV KLJKO\ FRQILJXUDEOH DQG FDQ EH VHW WR D YHU\ ILQH GHJUHH� $V D UHVXOW�SUHFLVHO\ GHVFULELQJ DOO RI WKH SULYLOHJHV DVVRFLDWHG ZLWK D UROH ZRXOG UHVXOW LQ D YHU\ ODUJH DQG FRPSOLFDWHGGRFXPHQW WKDW ZRXOG QRW QHFHVVDULO\ KHOS \RX WR DSSUHFLDWH WKH GLIIHUHQFHV EHWZHHQ WKH UROHV� ,QVWHDG� WKLVGRFXPHQW SURYLGHV D OLVW RI WKH UROHV SURYLGHG� )RU PRUH GHWDLOHG LQIRUPDWLRQ� \RX QHHG WR XVH WKH 8VHU0DQDJHPHQW WUHH RI WKH $GPLQLVWUDWLRQ FRPSRQHQW WR YLHZ WKH SULYLOHJHV GLUHFWO\�

$QDO\VW 5ROHVz $GPLQLVWUDWRUV �WKLV UROH SURYLGHV DOO SULYLOHJHV� DQG WKHVH SULYLOHJHV FDQQRW EH PRGLILHG�z $QDO\VWz $SSURYHUz &KDQJH$QG&RQILJ0JUz *XHVWVz +HOS'HVN0DQDJHUz 6' &KDQJH 0DQDJHUz 6'�&RQILJXUDWLRQ 0DQDJHUz 6'�3UREOHP0DQDJHUz 6HUYLFH&DWDORJXH0DQDJHUz 6HUYLFH'HVLJQHUz 6HUYLFH2ZQHUz 6HUYLFH7HDP0DQDJHUz 7HDP/HDGHU

(QG 8VHU 5ROHz 3RUWDO(QG8VHUz 6HOI6HUYLFH*XHVW

���

Page 182: Hdi Capital Area September 2014 Meeting Slides

/$1'(6. 6(59,&( '(6. 35(%8,/7 &217(17

���