The Malone Complex Presentation - 2014.11.19 VPublic

Pbi Hgcoei Aohpcix G Qtu`y fe Jfegeafgc Lrfccfgeai B. Divfe Lyue Eovihlir <>70

@IEGCF FEZIQPO\Q, CCA

Aoetiets ▫ ▫ ▫ ▫ ▫ ▫ ▫

Lgadmroue` ArigtfemCflirtyHi`fg-7667 PbiCflirtyIetftfis Zgcugtfoes Qohi Bfstory \ijirieais Gppie`fais

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Lgadmroue`


ûrposi oj ^risietgtfoe ▫

Liagusi wi bgvi lieijftti` jroh fevistfem gcoemsfì Kobe Hgcoei tbroumb euhirous ietftfis, tbi purposi oj tbfs prisietgtfoe fs pgrt gegcysfs, pgrt bfstory, pgrt opportuefty, ge` pgrt trfluti


Bf`fem fe ^cgfe Qfmbt ▫

@ui to oecy piraifvi` aohpcixfty, host fevistors gri uegwgri oj oei oj tbi mrigtist oweir/opirgtor/gccoagtors oj tbfs tfhi

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Pbisi opportueftfis gri bf`fem fe pcgfe sfmbt, fj oei fs sfhpcy pgyfem gttietfoe Vit F bgvi eivir siie aoesocf`gti` suhhgry or gegcysfs gaross tbi Hgcoei ietftfis, so F ìafì` to ò ft hysicj @IEGCF FEZIQPO\Q, CCA

Kobe Hgcoei


G Lrfij Bfstory WZAG @FQAG CFEPG

CZEPG

CFEPG Cflirty Hi`fg

CZEPG GP&P

PAF

Cflirty Hi`fg

CP\^G CHAG

CAG^G

Cflirty Hi`fg

CHAG CL\@G

CH@FG

CQP[G

QP\[G

@PZ CLPVG CLPVG CFCG


Arigtfem Cflirty Hi`fg


Arigtfem Cflirty Hi`fg - 7667

Qourai; QIA jfcfem


Arigtfem Cflirty Hi`fg - 7667 Cowist ^gf`, List îrjorhfem AIO ▫

–@urfem tbi priai`fem 79 yigrs, Hgcoei bg` iekoyi` g riputgtfoe oj lifem oei tbi cowist-pgf`, list pirjorhfem AIOs fe Ghirfag.‘

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–Jor hori tbge 79 yigrs oj rueefem PAF, wbgt `rovi Hgcoei wgs g ìtirhfegtfoe to arigti tbi lfmmist ge` host agsb-ijjfafiet aglci opirgtor fe tbi aouetry… Vit, jor gcc tbfs, bfs stgdi wgs puey; g tfey jrgatfoe oj 7% fe 7667.‘

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–Ft wgs hgdfem Lol THgmeissX viry rfab. Ge` Lol wgse‖t riafproagtfem. Ge` tbgt wgs kust Lol… Pbgt‖s wbgt arigti` Cflirty… Ge` ft wordi`.‘ - Hgcoei (Eoti; Hgmeiss wgs g jgtbir jfmuri to Hgcoei ge` tbiri wgs eo fcc wfcc)

Qourai; Aglci Aowloy; Kobe Hgcoei ge` tbi \fsi oj tbi Hoìre Aglci Lusfeiss


Arigtfem Cflirty Hi`fg - 7667 Movirehiet Fhpitus ▫

–Lgsi` oe tgcds wftb bfs gttoreiys gs wicc gs bfs aglci aoccigmuis, Hgcoei suspiati` tbgt movirehiet rimucgtors wouc` try to jorai bfh to spcft PAF fe two - g `fstrflutfoe aohpgey, owefem gcc oj PAF‖s aglci systihs, ge` g aoetiet aohpgey, owefem fetirists fe aglci abgeeics. Qo Hgcoei ìafì` to ò ft jor tbih. ‘

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–Fe igrcy 7667, bi sit up pcges to jorh g eiw aohpgey, Cflirty Hi`fg, ge` pcgeei` to stoad ft wftb hori tbge $:>> hfccfoe wortb oj gssits jroh PAF, roumbcy bgcj tbi vgcui fe aglci systihs ge` tbi otbir bgcj fe promrghhfem stgdis, hostcy hfeorfty fetirists fe shgcc ge` cgrmi abgeeics.‘



Arigtfem Cflirty Hi`fg - 7667 Cflirty Hi`fg riturei` 79x tbi feftfgc fevisthiet fe two yigrs ▫

Qbgribocìrs riaifvi` rfmbts tbgt ietftci` tbih to ixabgemi sohi oj tbifr PAF stoad jor sbgris fe tbi eiw aohpgey

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Cflirty wgs fssufem g hgxfhuh oj oecy <.7h sbgris. PAF bg` 079h sbgris

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7 \fmbt riaifvi` jor iviry <>> PAF sbgris. Igab rfmbt + 7: sbgris oj PAF (gt $7:) 8 7 sbgri oj Cflirty Hi`fg! 8 $<9: pir sbgri Cflirty sbowi` g pro jorhg coss Geotbir twfst; Gey aohhoe eot soc` fe tbi rfmbts ojjirfem wouc` li ripcgai` ly prijirri` stoad owei` ly PAF, f.i. g lgadstop to tbi ìgc Pbi Lottoh Cfei; Pbi jiwir sbgribocìrs tbgt pgrtfafpgti` fe tbi Cflirty ojjirfem, tbi hori civirgmi` tbi upsfì potietfgc jor Cflirty‖s stoad

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Qourais; Vou Age li g Qtoad Hgrdit Miefus. Aglci Aowloy. Jfcfems.


Arigtfem Cflirty Hi`fg - 7667 ▫

Hgcoei wgs mrgeti` eoetrgesjirglci optfoes to purabgsi 7>>,>>> sbgris oj Cflirty gt prfai pir sbgri iqugc to $<9:. Hgcoei mot optfoes oe $<9h fe Cflirty stoad gt $<9: pir sbgri

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Bf`fem fe ^cgfe Qfmbt; –Qfeai tbi lucd oj Cflirty‖s gssits wiri hgì up oj iqufty stgdis fe otbir aohpgefis, tbi rivieuis ge` igrefem oj host oj tbisi fetirists wiri eot aoesocf`gti` feto Cflirty‖s feaohi stgtihiet. (Pbisi stgdis hiricy gppigri` oe Cflirty‖s lgcgeai sbiit gt aost.)‘

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Oecy glout =>>d sbgris wiri fssui` (out oj <.7h hgxfhuh)

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\fmbts wiri jriicy trgì`. Gvgfcglci gt ciss tbge $7 pir rfmbt

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Host sbgribocìrs eiftbir ixirafsi` eor soc` tbifr rfmbts

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^.Q. Ciss tbge two yigrs gjtir tbi r fmbts ojjirfem, Cflirty spcft fts stoad <> jor 7, tbie 0 jor 7, ge` tbie < jor 7

Qourais; Vou Age li g Qtoad Hgrdit Miefus. Aglci Aowloy. Jfcfems.


Arigtfem Cflirty Hi`fg - 7667 ▫

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Ly tbi suhhir oj 7661, sbgris tbgt feftfgccy soc` jor $<9: gpfiai wiri wortb $1,=>>, sie`fem Hgcoei‖s fevisthiet oj $0<.7h, host oj ft lorrowi` jroh Cflirty oe g pirsoegc eoti, acfhlfem to hori tbge $:>>h Jor Hgcoei, tbi trgesgatfoe wgs icimget mfvie tbi mgfes aghi wftbout ieorhous feaohi tgxis, sfeai ft wgs struaturi` vfg stoad swgps, wbfab wiri eot tgxglci



Pbi Cflirty Ietftfis


Hgcoei‖s Gcpbglit Qoup ▫

CHAG / CHAL / CHAD (Cflirty Hi`fg)

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CL\@G / CL\@L / CL\@D (Cflirty Lrog`lge`)

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WZAG / WZAL (Cflirty Fetirgatfvi)

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CZEPG / CZEPL (Cflirty Zieturis)

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CP\^G / CP\^L (Cflirty PrfpG`vfsor)

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CLPVG / CLPVL / CLPVD (Cflirty Mcolgc)

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QP\[G / QP\[L (Qtgrz)

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Euhirous otbir aurriet ietftfis… (@FQAG / @FQAL, GQAHG / GQAHL, IRÎ G/L, P\F^ G/L…) Euhirous otbir privfous ietftfis (PAF Zieturis, PAF Fetc, CQP[G / CQP[L, CAG^G / CAG^L, CH@FG / CH@FL… )


Hgcoei Qtrgtimy - Pbi Jcywbiic ▫

Agsb jcow, ILFP@G pfoeiir

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Pgx ijjfafieay / tgx ìjirrgc

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Eit opirgtfem cossis, tgx sbfic`

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Civirgmi, lucdbig`s

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Iqufty sbrfed, opportuefstfa

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Qyeirmfis / Qagci, borfzoetgc / virtfagc

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Aost / Agpix riùatfoe

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Qpfeojjs / \ivirsi Horrfs Prust / Hirmirs

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Prgadfem stoads

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Qtoad swgp / ixabgemis

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Bgr` / sojt aoetroc, votfem stoad

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@iaietrgcfzgtfoe

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Kofet Zieturis @IEGCF FEZIQPO\Q, CCA

Abroeocomy


Ietfty Quhhgry ▫

CHAG / CHAL / CHAD (Cflirty Hi`fg) - Boc`s QF\F, CVZ, otbir gssits

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CL\@G / CL\@L / CL\@D (Cflirty Lrog`lge`) - Boc`s ABP\, P]A, otbir gssits

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WZAG / WZAL (Cflirty Fetirgatfvi, Prgadfem stoad) - Boc`s WZA, BQEF, otbir gssits

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CZEPG / CZEPL (Cflirty Zieturis, Prgadfem stoad) - Boc`s IRÎ, P]A, ixabgemiglci ìlt, otbir gssits, tbi –pulcfa bi`mi jue`‘ CP\^G / CP\^L (Cflirty Prfp G`vfsor Boc`fems) - Boc`s P\F^, Luy Qigsoes CLPVG / CLPVL / CLPVD (Cflirty Mcolgc) - Fetiregtfoegc aglci aoesocf`gtfoe QP\[G / QP\[L (Qtgrz) - Aoetiet ietfty spfeojj jroh CHAG


CFEPG + CZEPG - <>7<.>2.7> CZEPG wgs spue ojj jroh CFEPG Gumust 7>, <>7< gt $0> pir sbgri. Fe Eov <>71, CZEPG fs $7<> pir sbgri ▫

<> CFEPG sbgris 8 7 CZEPG sbgri

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1 CZEPG sbgris 8 7 \fmbt gt g <>% `fsaouet to <> `gy Z]G^

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Gssits feacuì ûlcfa Boc`fems (P\F^, IRÎ, P]R, P]A, FFCM, P\II, GOC) + Agsb + Pgx g`kusthiets

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Cfglfcftfis feacuì tgx-g`vgetgmi` ixabgemiglci ìlt

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Eo `gtis wiri mfvie fe gey jfcfems (to diip fevistors muissfem)

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Oecy gpprovi` spfeojj oe Gumust 2, <>7<, two `gys lijori…

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^grgccic geeoueaihiet oj CHAG+QP\[G spfeojj (wbfab sbfjts gttietfoe jroh tbi CZEPG opportuefty)


CZEPG + CP\^G - <>70.>2.<= CZEPG Qpfeojj oj CP\^G ▫

CZEPG (Cflirty Zieturis) boc`s IRÎ, FFCM, P\II, P]A, P]R, Qocgr, Agsb, Airtgfe Cfglfcftfis

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CP\^G (Cflirty PrfpG`vfsor Boc`fems) boc`s <<% P\F^ aohhoe stgdi, 9=% P\F^ votfem stgdi, LuyQigsoes, Agsb, Airtgfe Cfglfcftfis

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7 CP\^G Qbgri 8 7 CZEPG Qbgri

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Qipgrgtfoe to bfmbcfmbt vgcui oj CP\^G ge` CZEPG gssits

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Bfmbcfmbt bf`ìe gssits

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G``riss sfmefjfaget suh oj tbi pgrts `fsaouet


CFEPG 8 WZAG + \igttrflutfoe <>70.7>.<> CFEPG liaohis WZAG + \igttrflutfoe ▫

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WZAG (WZA Mroup) to boc` WZA ricgti` gssits, BQEF stgdi, AE\ stgdi, Agsb, Airtgfe Cfglfcftfis

iAohhirai gssits (suab gs ^rovfì Aohhirai, JP@ stgdi, Lgadaouetry. aoh, Lo`ylufc`fem.aoh, Ivfti.aoh), Agsb, Airtgfe Cfglfcftfis

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7 WZAG Qbgri 8 7 CFEPG Qbgri

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iAohhirai gssits ($7.9l) + $7l agsb 8 :2h CZEPG sbgris

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Qipgrgtfoe to bfmbcfmbt vgcui oj WZAG ge` iAohhirai gssits

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Bfmbcfmbt mrowtb, hgrmfe ixpgesfoe, bf`ìe gssits

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Aoetfeui` gaaritfvi sbgri luylgads


WZAG Quhhgry WZA Mroup ▫

WZA Mroup, g trgadfem stoad (privfouscy CFEPG trgadfem stoad), aoesfsts oj WZA, 12% oweirsbfp oj BQEF, ge` airtgfe gssits

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Bfmbcfmbtfem WZA ieglcis g acigeir aohpgrglci gegcysfs

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Qfhpcfjfi` struaturi gccows jor hori tgrmiti` sbgri ripurabgsis ge`

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iqufty feaietfvis WZA fs tbi cgrmist bohi sboppfem eitword fe tbi YQ

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WZA bgs ge gttrgatfvi hgrmfe ge` agsb jcow projfci

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Gttrgatfvi austohir lgsi tbgt ixbflfts stglci ge` bglftugc iemgmihiet gatfvfty

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Quaaissjuc trgesftfoe to holfci ge` oecfei

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Qfmefjfaget ripurabgsi gatfvfty

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Ixpge`fem ojj-lgcgeai sbiit vgcui @IEGCF FEZIQPO\Q, CCA

CZEPG Quhhgry Cflirty Zieturis ▫ ▫

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CZEPG, g trgadfem stoad, fs g aocciatfoe oj `fvirsfjfi` fevisthiets CZEPG aoesfsts oj IRÎ, FFCM, P\II, P]A, P]R, Qocgr, Agsb, Airtgfe Cfglfcftfis \igttrflutfoe trgesgatfoe risucti` fe g huab cgrmir pro jorhg ietfty wftb sagci ge` g lrog` hge`gti G``ftfoe oj tbi `fmftgc aohhirai gssits tbgt feacuì Lgadaouetry.aoh, Lo`ylufc`fem.aoh, AohhiraiBul, Ivfti, ^rovfì Aohhirai (JP@ trgesgatfoe), ge` Pbi \fmbt Qtgrt

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ôtietfgc to uecoad vgcui ihli`ì` fe `fmftgc aohhirai gssits

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^ro jorhg agsb ixpiati` to li $<.=l ly ie` oj <>70

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Pbi cgrmi agsb lgcgeai ojjirs potietfgc to fevist fe g wfì sit oj opportueftfis fe PHP ge` `fmftgc @IEGCF FEZIQPO\Q, CCA

CP\^G Quhhgry Cflirty PrfpG`vfsor Boc`fems ▫

CP\^G wgs arigti` <>70.>2.<= ge` fs g boc`fem aohpgey

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CP\^G wgs g jucc/bgr` spfeojj (eot g trgadfem stoad) jroh CZEPG

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Qipgrgtfoe wgs fetieì` to bfmbcfmbt tbi vgcui oj tbi P\F^ gssit, wbfab wgs suaaissjuc CP\^G owes g <<% iaoeohfa fetirist fe PrfpG`vfsor (P\F^) ge` g 9=% votfem fetirist

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Boc`s LuyQigsoes (opirgtfem ietfty), eit cfglfcftfis

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Ixpiatgtfoe to aohlfei CP\^G wftb P\F^ gt sohi pofet


CHAG + CL\@G - <>70.77.>9 CHAG spfeojj oj CL\@G ▫

CHAG (Cflirty Hi`fg) boc`s QF\F, CVZ, otbir gssits

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CL\@G (Cflirty Lrog`lge`) boc`s ABP\, P]A, otbir gssits

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7 CHAG sbgri 8 >.<9 CL\@G sbgri

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9 CL\@G sbgris 8 7 \fmbt to luy 7 CL\@G sbgri gt <>% `fsaouet Qipgrgtfoe to bfmbcfmbt vgcui oj CHAG ge` CL\@G gssits

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Gccow igab ietfty to pursui gpproprfgti vgcui arigtfoe pgtb


CHAG Quhhgry Cflirty Hi`fg ▫

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CHAG fs g boc`fem aohpgey wbfab owes vgrfous aoetroc ge` eoe-aoetroc posftfoes ûlcfacy trgì` gssits feacuì QF\F ge` CVZ gs wicc gs otbir pulcfa boc`fems ^rfvgti gssits feacuì tbi Gtcgetg Lrgvis HCL tigh ge` Droiedi Grieg Aurrietcy, post tbi CL\@G spfeojj, strgtimfa fevisthiets QF\F ge` CVZ gaaouet jor ovir 2>% oj EGZ jor CHAG CHAG oweirsbfp oj QF\F fs 9=% ge` aoetfeui` luylgad gatfvfty gt QF\F sbouc` fearigsi CHAG oweirsbfp ôtietfgc juturi trgesgatfoe to bfmbcfmbt vgcui oj QF\F gssits tbroumb trgesgatfoe litwiie CHAG ge` QF\F


CL\@G Quhhgry Cflirty Lrog`lge` ▫

CL\@G fs g boc`fem aohpgey tbgt limge trg`fem <>70.77.>9

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CL\@G fs g puri pcgy oe tbi aoesocf`gtfoe oj tbi aglci feùstry

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ûlcfacy trgì` gssits feacuì ABP\ ge` P]A

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^rfvgti gssits feacuì Pruiôsftfoe

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Qfhfcgr to tbi CZEPG rfmbts ojjirfem, CL\@G wfcc aoeùat g rfmbts ojjirfem gt g <>% `fsaouet ABP\ stge`s to lieijft jroh 7) tbi aurriet AHAQG/P]A hirmir struaturi (gssuhfem tbi hirmir fs aohpciti`) vfg tbi gssit swgp, gssit purabgsi, spfeojj oj MrigtCge` (aurrietcy Hf`wist) Aglci, or <) ìgc lrigd

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ABP\ fs wicc posftfoei` gs rihgfefem egturgc aoesocf`gtor

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ABP\ bgs ge gttrgatfvi agpftgc struaturi ge` tgx gssits @IEGCF FEZIQPO\Q, CCA

QP\[G Quhhgry Qtgrz ▫ ▫

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QP\[G fs g pgy ticivfsfoe eitword QP\[G wgs g spfeojj (tiabefagccy tbi rihgfefem pgriet aohpgey) jroh CHAG fe <>71.>7.72 Hgfe simhiet fs Eitwords wbfab ojjirs tbi Qtgrz ge` Ieaori abgeeics Oemofem trgesftfoe to fearigsi` orfmfegc promrghhfem, joccowfem tbi suaaissjuc ixghpcis oj BLO, Qbowtfhi, ge` Eitjcfx Qulstgetfgc luylgad promrgh ge` gttrgatfvi jrii agsb jcow Hgegmihiet bgs stgti` tbi comfa oj QP\[G gs pgrt oj g cgrmir aohpgey (g sgci oj QP\[G)


CLPVG + CFCG - <>79.W7 CLPVG spfeojj oj CFCG ▫

CLPVG (Cflirty Mcolgc) boc`s Iuropi aglci, YD aglci, otbir gssits

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CFCG (Cflirty CgtGh) boc`s Abfci aglci, ûirto \fao aglci, otbir gssits

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<> CLPVG sbgri 8 7 CFCG sbgri

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Qipgrgtfoe to arigti puri pcgy Iuropige ge` Cgtfe Ghirfage iquftfis Qipgrgtfoe to bfmbcfmbt vgcui oj CFCG gssits wftbfe CLPVG

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Lotb Eiw CLPVG ge` CFCG wfcc li struaturi` gs trgadfem stoads

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Gccow igab ietfty to pursui gpproprfgti vgcui arigtfoe pgtb


CLPVG Quhhgry Cflirty Mcolgc ▫

CLPVG fs g boc`fem aohpgey jor fetiregtfoegc aglci gssits

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Iuropige aglci provfìr, oei oj cgrmist fe tbi worc`

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Aori hgrdits YD, Mirhgey, Licmfuh, Qwftzircge`, ge` tbi Eitbircge`s

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Borfzoetgc ge` virtfagc gaqufsftfoes

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Lieijft oj sulstgetfgc EOCs

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Civiri` iqufty sbrfed pcgylood

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Eo `fvfìe` vs piirs

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Eiw CLPVG wfcc li struaturi` gs g trgadfem stoad

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Arigtfoe oj ietfty to ripcfagti strgtimy jor Cgtfe Ghirfage hgrdits


CFCG Quhhgry Cflirty Cgtfe Ghirfag ▫

Ypoe sipgrgtfoe, CFCG wfcc li struaturi` gs g trgadfem stoad

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CFCG wfcc arigti g puri pcgy rimfoegc ietfty

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CFCG wfcc riprisiet opirgtfoes fe Cgtfe Ghirfag ge` tbi Agrfllige (CfCGA Mroup) Feftfgccy, CFCG wfcc bgvi gttrfluti` 7>>% fetirists fe ZP\ McolgcAoh ge` ZP\ ]friciss, ge` :>% fetirist fe Cflirty Aglcivfsfoe oj ûirto \fao


Qohi Bfstory


Qohi Bfstory; Aohpoue`fem gt PAF ▫

$7 fevisti` gt tbi limfeefem oj tbi Hgcoei irg fe 76=1 wgs wortb ovir $6>> ly 7662

Qourai; Pbi Outsfìrs


Qohi Bfstory; Qpfes/Qpcfts gt PAF ▫

Cflirty Hi`fg wgs tbi jfrst fe g sirfis oj trgadfem stoads tbgt Hgcoei arigti`, feacu`fem PAF Zieturis (jor Piciport, Qprfet/ÂQ, ge` otbir eoe aglci gssits) ge` PAF Fetiregtfoegc (jor PAF‖s oweirsbfp fe hfsaiccgeious jorifme aglci gssits)

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Hgcoei stgrti` wftb tbi spfeojj oj ]istire Pici-Aohhuefagtfoes hfarowgvi lusfeiss fe 7627

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Ly tbi tfhi oj tbi sgci to GP&P, PAF bg` spue ojj g rihgrdglci sivie `fjjiriet ietftfis to sbgribocìrs

Qourai; Pbi Outsfìrs


Qohi Bfstory; Qpfes/Qpcfts gt PAF Cfstfem pirfo` @fstrflutfoe/ixabgemi tirhs*

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@fstrflutfoe oj 7;7 jor PAF Acgss G

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@fstrflutfoe oj 7;<> jor PAF Acgss G

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@fstrflutfoe oj 7;<> jor PAF Acgss L

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@fstrflutfoe oj 7;71 jor PAF Acgss L

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@fstrflutfoe oj 7;7 jor ]PAF G/L

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@fstrflutfoe oj 7;7 jor ]PAF G/L

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Pieìr oj 7;7: jor PAF Acgss G**

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Pieìr oj 7;7: jor PAF Acgss L**

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Ixabgemi oj <;7 jor PAF Acgss G

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Ixabgemi oj <;7 jor PAF Acgss L

Lgsi` oe tbi aurriet sbgri aouet gt `fstrflutfoe/ixabgemi, f.i., gjtir stoad spcfts Oei ixabgemi rfmbt to tieìr 7: PAF sbgris oj iftbir acgss wiri gwgrì` jor iviry <>> sbgris bic`

Qourai; A\Q^, PAF Geeugc \iports Qourai ; ]fccfg h Pbore`fd i


Qohi Bfstory; FGAF & Lgrry @fccir Pbi aurriet stgdis fe IRÎ, P\F^ (IRÎ Qpfe), FFCM, P\II, CVZ (PDPH) aghi jroh oei aohpgey, FGAF, wbfab orfmfegccy aohpciti` g jfvi-wgy spfeojj fe <>>2 ▫

Cflirty owei` glout 1>% oj FGAF aohhoe ge` glout :<% oj votfem powir, gctboumb tbroumb ge gmriihiet, Hr. @fccir bg` aoetrocci` Cflirty‖s votis

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Hgcoei feftfgccy opposi` tbi spfeojjs liagusi tbi eiw aohpgefis bgvi g sfemci-tfir votfem struaturi, sbrfedfem Cflirty‖s powir

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Cflirty sui` FGAF, lut g @icgwgri ku`mi sfì` wftb Hr. @fccir, ge` Hr. Hgcoei cgtir `roppi` bfs gppigc

Qourai; Fevistors ]icaohi FGA Qpfeojj


Cflirty Hi`fg Aorporgti Gatfoes ▮

Eovihlir 0, <>70 -CHAG spfe-ojj oj CL\@G . Cflirty Hi`fg aohpciti` tbi spfe-ojj oj Cflirty Lrog`lge`. Igab bocìr oj Cflirty Hi`fg Qirfis

G/L/A Aohhoe Qtoad (CHAG/CHAL/CHAD)riaifvi` oei-jourtb oj g sbgri oj tbi aorrispoe`fem sirfis oj Cflirty Lrog`lge` Aohhoe Qtoad (CL\@G/CL\@L/CL\@D) . Fhhi`fgticy gjtir tbi spfe-ojj, tbi tgx lgsfs oj igab CHAG/CHAL/CHADsbgri bic` prfor to tbi spfe-ojj wfcc li

gccoagti` litwiie tbi orfmfegc sbgri ge` tbi eiw sbgri fssui` gs pgrt oj tbi spfe-ojj. Agsb wgs fssui` fe cfiu oj jrgatfoegc sbgris. Acfad biri jor lgsfs gccoagtfoe ▮

Oatolir <>, <>70- WZAG rigttrflutfoe wftb CZEPG . Pbi WZA Mroup (jorhircy rijirri` to gs tbi Cflirty Fetirgatfvi Mroup) ge` Cflirty

Zieturis Mroup aohpciti` g rigttrflutfoe trgesgatfoe tbroumb wbfab tbi WZA Mroup sbgribocìrs("WZAG ge` WZAL")riaifvi` g `fstrflutfoe oj >.70<7= sbgris oj tbi aorrispoe`fem sirfis oj Cflirty Zieturis("CZEPG or CZEPL")pir sbgri oj WZAG/WZAL, bic` gs oj tbi riaor` `gti. Fe ixabgemi, `fmftgc aohhirai lusfeissis vgcui` gt $7.9 lfccfoe ge` $6=> hfccfoe fe agsb wiri rigttrfluti` jroh tbi WZA Mroup to tbi Cflirty Zieturis Mroup. Agsb wgs pgf` fe cfiu oj jrgatfoegc sbgris. Fhhi`fgticy gjtir tbi rigttrflutfoe, tbi tgx lgsfs oj igabWZAG/WZALsbgris bic` prfor to tbi rigttrflutfoe wfcc li gccoagti` litwiie tbi orfmfegc sbgris ge` tbi eiwCZEPG/CZEPLsbgris `fstrfluti`. Acfad biri jor Lgsfs Gccoagtfoe. ▮

Kucy <1, <>70- CHAG fssuis Qirfis A Qbgris. Cflirty Hi`fg fssui` sbgris oj fts Qirfis A aohhoe stoad to bocìrs oj fts Qirfis G ge` Qirfis L

aohhoe stoad ly higes oj g `fvfìe`. Bocìrs oj Qirfis G ge` Qirfis L aohhoe stoad gs oj 9;>> p.h. [email protected]. tfhi oe Kucy =, <>70, tbi riaor` `gti jor tbi `fvfìe`, riaifvi` g `fvfìe` oj two sbgris oj Qirfis A aohhoe stoad jor igab sbgri oj Qirfis G or Qirfis L aohhoe stoad bic` ly tbih gs oj tbi riaor` `gti. Acfad biri jor lgsfs gccoagtfoe ▮

Gumust <=, <>70- CEZPG spfe-ojj oj CP\^G . Cflirty Zieturis Mroup aohpciti` tbi spfe-ojj oj C flirty PrfpG`vfsor Boc`fems, Fea. Igab bocìr

oj Cflirty Zieturis Qirfis G/L Aohhoe Qtoad (CZEPG/CZEPL)riaifvi` g sbgri oj tbi aorrispoe`fem sirfis oj Cflirty PrfpG`vfsor Boc`fems, Fea. Aohhoe Qtoad (CP\^G/CP\^L). Fhhi`fgticy gjtir tbi spfe-ojj, tbi tgx lgsfs oj igab CZEPG/CZEPLsbgri bic` prfor to tbi spfe-ojj wfcc li gccoagti` litwiie tbi orfmfegc sbgri ge` tbi eiw sbgri fssui` gs pgrt oj tbi spfe-ojj. Acfad biri jor Lgsfs Gccoagtfoe. ▮

Gprfc 70, <>70 -CZEPG stoad spcft . Cflirty Zieturis Mroup aohpciti` g two-jor-oei stoad spcft, fe tbi jorh oj g stoad `fvfìe` oj oei sbgri oj

Cflirty Zieturis Qirfis G/L Aohhoe Qtoad (–CZEPG & CZEPL‘)jor igab sbgri oj Qirfis G/L Cflirty Zieturis Aohhoe Qtoad outstge`fem. Pbi stoad `fvfìe` wgs `fstrfluti` oe Gprfc 70, <>70 to stoadbocìrs oj riaor` gs oj Gprfc 0, <>70. Fhhi`fgticy gjtir tbi stoad spcft, tbi tgx lgsfs oj igab CZEPG/CZEPLsbgri bic` prfor to tbi stoad spcft wfcc li `fvfì` iqugccy litwiie tbi orfmfegc sbgri ge` tbi eiw sbgri fssui` gs pgrt oj tbi stoad spcft.

Qourai; Cflirty Hi`fg wilsfti



Kgeugry 71, <>71 CHAG spfe-ojj oj QP\[G . Ijjiati` ly Oc` CHA, (f) gcc oj tbi lusfeissis, gssits, ge` cfglfcftfis oj Oc` CHA, otbir tbge Qtgrz,

CCA,wiri aoetrfluti` to Cflirty Qpfeao, Fea., g jorhir sulsf`fgry oj Oc` CHA4 (ff) Oc` CHA wgs rieghi` Qtgrz (QP\[)4 (fff) Cflirty Qpfeao, Fea. wgs rieghi` Cflirty Hi`fg Aorporgtfoe (Eiw CHA)4 ge` (fv) gcc oj tbi stoad oj Eiw CHAG `fstrfluti` oe Kgeugry 77, <>71 to tbi bocìrs oj riaor` oj Oc` CHA stoad oe tbi riaor` `gti. Acfad biri jor Lgsfs Gccoagtfoe. ▮ ▮

Gumust 7>, <>7<- CFEPG/L arigti` tbi eiw Cflirty Zieturis (CZEPG/L) aohhoe stoad. Eovihlir <2, <>77- Cflirty Hi`fg aohpcitis tbi aoevirsfoe oj igab sbgri oj fts Cflirty Qtgrz aohhoe stoad (CQP[G ge` CQP[L) feto

>.227<6 oj g sbgri oj tbi aorrispoe`fem sirfis oj Cflirty Agpftgc aohhoe stoad C( HAG ge` CHAL). @owecog`JO\H 261= \IAG^FPGCF[GPFOE ▮

Qiptihlir <1, <>77‑ CFEPG/L(j/d/g Cflirty Hi`fg Aorporgtfoe) aohpcitis tbi spcft-ojjoj C/CHA.L (j/d/g Cflirty AgpQtgrz, Fea. ge` Cflirty

Qpcftao, Fea.). Fe tbi spcft-ojj, CFEPG/L riìihi` igab sbgri oj fts CAG^G/L ge` CQP[G/L aohhoe stoad fe ixabgemi jor oei sbgri oj tbi aorrispoe`fem sirfis oj C/CHA.L's CAG^G/L ge` CQP[G/L aohhoe stoad, rispiatfvicy. Pbi tfadir syhlocs jor C/CHA.L's CAG^G/Lge` CQP[G/L aohhoe stoad gri tbi sghi gs tbi tfadir syhlocs jor CFEPG/L's CAG^G/Lge` CQP[G/L aohhoe stoad. @owecog`JO\H 261= Q^CFP-

OJJ ▮

Eovihlir 76, <>>6,Cflirty aohpcitis spcft-ojj oj tbi Cflirty Ietirtgfehiet Fea (CIF) ge` lusfeiss aohlfegtfoe wftb @F\IAPZ(EGQ@GW; @PZ). \ihgfefem lusfeissis, gssits ge` cfglfcftfis eot bic` lyCIF rihgfe wftb Cflirty Hi`fg ge` gri riìsfmegti` gs tbi Cflirty Qtgrz mroup

(EGQ@GW; CQP[G/L). 7 sbgri oj @PZ ge` .7 sbgris oj CQP[G/L fssui` jor igab sbgri oj CH@FG/L. Acfad biri jor lgsfs gccoagtfoe. ▮

Qiptihlir 72, <>>2,@fsaoviry Boc`fem Aohpgey (@BA) aohpcitis ristruaturfemfeto @fsaoviry Aohhuefagtfoes, Fea. (@AF), ge` spfe ojj oj Gsaiet Hi`fgAorporgtfoe (GQAH). Acfad biri jor lgsfs gccoagtfoe.

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Hgrab 1, <>>2,Cflirty Hi`fg Aorporgtfoe aohpcitis riacgssfjfagtfoe oj fts Cflirty Agpftgc mroup aohhoe stoad (EGQ@GW; CAG^G/L) ge` fssuis eiw trgadfem stoad jor tbi Cflirty Ietirtgfehiet mroup aohhoe stoad (EGQ@GW; CH@FG/L); 0 sbgris oj CH@FG/L fssui` jor igab

sbgri oj CAG^G/L. Acfad biri jor Lgsfs Gccoagtfoe. ▮

Hgy 6, <>>:,Cflirty Hi`fg aohpcitis fts ristruaturfem ge` fssuis two eiw trgadfem stoads Cflirty Agpftgc mroup ge` Cflirty Fetirgatfvi

mroup (EGQ@GW;CAG^G/L ge` CFEPG/L, rispiatfvicy); >.>9 sbgris oj CAG^G/Lfssui` jor igab 7 sbgri oj C/CHA.L bic` ge` >.<9 sbgris oj CFEPG/Lsbgris fssui` jor igab 7 sbgri oj C/CHA.L bic`. Acfad biri jor Lgsfs Gcco agtfoe. ▮

Kucy <7, <>>9,@fsaoviry Boc`fem Aohpgey Qpfe Ojj jroh Cflirty Hi`fg Aorporgtfoe; >.7> sbgris oj @FQAG/@FQALfssui` jor igab 7 sbgri oj C/CHA.L.Acfad biri jor Lgsfs Gccoagtfoe.




Kuei 2, <>>0,Cflirty Hi`fg Fetiregtfoegc Qpfe Ojj jroh Cflirty Hi`fg; >.>9 sbgris oj CLPVG/CLPVLfssui` jor igab 7 sbgri oj C/CHA.L.

Acfad biri jor Lgsfs Gccoagtfoe. ▮

Oatolir 17, <>><,\fmbts Ojjirfemto Cflirty Hi`fg Qbgribocìrs; >.>0 trgesjirglci sulsarfptfoe rfmbts fssui` jor igab sbgri oj Qirfis G

aohhoe stoad ge` Qirfis L aohhoe stoad bic`. Igab wboci rfmbt ietftci` tbi bocìr to purabgsi oei sbgri oj Qirfis G aohhoe stoad gt g sulsarfptfoe prfai oj $:.>> pir sbgri. ▮

Gumust 7>, <>>7 , Cflirty Hi`fg Qpcft Ojj jroh GP&P ; Igab sbgri oj CHM.G/L ixabgemi` oe g 7 jor 7 lgsfs jor sbgris oj tbi eiw Cflirty

Hi`fg Qirfis G ge` Qirfis L Aohhoe stoad, trg`fem oe tbi Eiw Vord Qtoad Ixabgemi ueìr tbi syhlocsCHA.G ge` CHA.L rispiatfvicy. ▮

Kuei 6, <>>>,<-jor-7 Qtoad Qpcft ; 7 g``ftfoegc sbgri oj CHM.G/L fssui` jor iviry sbgri oj CHM.G/L bic`

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Kuei 77, 7666,<-jor-7 Qtoad Qpcft ; 7 g``ftfoegc sbgri oj CHM.G/L fssui` jor iviry sbgri oj CHM.G/L bic`

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Hgrab 6, 7666,GP&P/PAF Hirmir ; Igab sbgri oj CLPVG/L ixabgemi` oe g 7 jor 7 lgsfs jor sbgris oj GP&P Cflirty Hi`fg mroup G/L, trg`fem oe

tbi Eiw Vord Qtoad Ixabgemi ueìr tbi syhlocs CHM.G/CHM.L ▮ ▮

Jilrugry :, 7662,1-jor-< Qtoad Qpcft ; 7 g``ftfoegc sbgri oj CLPVG/L fssui` jor iviry < sbgris oj CLPVG/L bic` Kgeugry :, 7662,PAF/Cflirty Hirmir Qittcihiet ; >.>7109 sbgri PAOHG jor igab sbgri oj CLPVG bic` oe Gumust 0, 76604 >.>790< sbgri PAOHL jor igab sbgri oj CLPVL bic` oe Gumust 0, 7660

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Kgeugry 71, 766=,1-jor-< Qtoad Qpcft ; 7 g``ftfoegc sbgri oj CLPVG jor iviry < sbgris oj CLPVG ge` CLPVL

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Gumust 7>, 7669,`fstrflutfoe oj Cflirty trgadfem stoad ; >.<9 sbgris CLPVG/L fssui` jor igab 7 sbgri oj PAOHG/L

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Gumust 0, 7660,Hirmir wftb PAF; >.6=9 sbgris PAOHG/L jor igab sbgri oj CLPVG/L4 7 sbgri PAOH^ jor igab sbgri oj CLPV^

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Hgrab 7=, 7661,<-jor-7 Qtoad Qpcft ; 7 g``ftfoegc sbgri CLPVG/L fssui` jor igab oei bic`

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@iaihlir 1, 766<,0-jor-7 Qtoad Qpcft ; 1 g``ftfoegc sbgris CLPVG/L fssui` jor igab oei bic`

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Hgrab 7<, 766<,Cflirty riagpftgcfzgtfoe; <> sbgris eiw CLPVG/L+ < sbgris CLPV^ fssui` fe ixabgemi jor igab sbgri oj oc` CLPVG/L

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Hgrab <2, 7667,Cflirty trgìs pulcfacy

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Hgrab 76,7667,ixirafsi oj Cflirty \fmbts ; 7: sbgris PAOHG/L + 7 \fmbt 8 CLPVG/L

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Hgrab 76, 7667,ixpfrgtfoe oj Cflirty \fmbts ; Gey eot ixirafsi` ixpfri` wftb eo vgcui

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Jilrugry :, 7667,fssugeai oj Cflirty \fmbts ; 7 \fmbt jor iviry <>> sbgris oj PAOHG/L



Moròe Argwjor` –Gs you cood lgad gt your agriir, wfcc you sbgri sohi ixghpcis oj your host suaaissjuc fevisthiets?‘ ▮

Hy host suaaissjuc fevisthiet fevocvi` oei oj tbi ixiautfvis tbgt F bgvi ge ieorhous ghouet oj rispiat jor, Kobe Hgcoei.Kobe jor yigrs bigì` up Pici-Aohhuefagtfoes (PAF), wbfab wgs tbi lfmmist aglci aohpgey fe tbi lusfeiss. Fe tbi igrcy

766>s, bi ìafì` to spfe ojj Cflirty Hi`fg, wbfab wgs g aocciatfoe oj PAF‖s promrghhfem ge` aglci eitword gssits, ge` bi `f` ft fe typfagc Kobe Hgcoei jgsbfoe. Ft wgs g viry aohpcfagti` spcft-ojj, eot g spfeojj. Pbiy sit up ge ixabgemi rgtfo litwiie Cflirty ge` PAF tbgt piopci `fè‖t ueìrstge`. Pbi prospiatus wgs `guetfem. Kobe put cow vgcugtfoes oe tbi gssits, liagusi eoei oj tbih wiri trgì` pulcfacy. F tboumbt ft wgs ge ieorhouscy gttrgatfvi sftugtfoe. ▮

]i ìafì` wi stfcc covi` PAF. ]i `fè‖t wget to mfvi up our oweirsbfp, so wi wiet out fe tbi opie hgrdit ge` loumbt ieoumb PAF sbgris to sulhft feto tbfs spcft-ojj so tbgt wi wouc` owe glout 79% oj Cflirty Hi`fg, gs wicc. Ge` tbie wi gatugccy loumbt sohi rfmbts ge` tboumbt hgyli wi wouc` uctfhgticy owe 72% or 76% oj Cflirty Hi`fg.

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Pwo `gys lijori tbi ìgc acosi`, F mot g agcc jroh Kobe Hgcoei liagusi bi deiw wbgt F wgs Bi sgf`, òfem. –Mor`y, ciss

tbge bgcj tbi piopci gri mofem to ixirafsi tbifr rfmbts to trgì feto tbi spcft-ojj, so you‖ri mofem to owe 01% oj Cflirty Hi`fg. ‘ F tgcdi` to our cgwyirs ge` wi jfmuri` out tbgt, gctboumb tbi oweirsbfp cfhft wgs <>%, wi wiri oecy mofem to bgvi glout 7<% oj tbi votis. Jor tbgt rigsoe tbiy cit us mo gbig` wftb ft ge`, oe `gy oei, wi owei` 01% oj Cflirty Hi`fg. Jor g aoupci oj hoetbs tbi stoad gchost eivir bg` g òwe `gy liagusi ivirylo`y tbgt owei` ft bg` kuhpi` tbroumb boops to mit tbiri, so tbiri wiri eo siccirs. îopci jfegccy jfmuri` out bow vgcuglci, ge` ueìrvgcui`, tbisi gssits wiri. Ovir tbi eixt jiw yigrs

tbi stoad wiet up, F tbfed, <> tfhis. Ft wgs ge ieorhouscy suaaissjuc fevisthiet. TIhpbgsfs g`ì`X

Qourai; Jour ìagìs oj fevistfem wftb Moròe Argwjor`


\ijirieais


\ijirieais ▫

Aglci Aowloy; Kobe Hgcoei ge` tbi \fsi oj tbi Hoìre Aglci Lusfeiss ly Hgrd \olfabgux

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Pbi Lfccfoegfri Qbicc Mghi; Bow Aglci Lgroe Kobe Hgcoei ge` Gssorti` Aorporgti Pftges Fevieti` g Juturi Eolo`y ]geti` ly C.K. @gvfs

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Ie` oj tbi Cfei; Pbi \fsi ge` Jgcc oj GP&P ly Ciscfi Aguciy

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Pbi Outsfìrs ly ]fccfgh Pbore`fdi

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Vou Age li g Qtoad Hgrdit Miefus ly Koic Mriielcgtt

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Grtfacis

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^riss \icigsis

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Jfcfems


The Malone Complex Presentation - 2014.11.19 VPublic

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