marketing intelligence report for golf
Transcription
marketing intelligence report for golf
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¶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¶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¶YHH[SODLQHGOLQNVDUHYLWDO:LWKWKLVLQPLQGLW¶VLPSRUWDQWWKDW\RXXQGHUVWDQGKRZ\RXUFRPSHWLWRUV¶ OLQNSURILOHVORRNVR\RXFDQILQGRXWKRZ\RXFDQEHDWWKHPLQWHUPVRIVXFFHVV6RLQWKHIROORZLQJJUDSKVDQG FKDUWV\RX¶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µ&&¶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¶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«HEDWHDVS[ KWWSVJROIGHSRWFRXNSURGXFWGHWDLOVPL]XQ SOHDVHFOLFNKHUWRILQGRXWPRUH RDHUROLWHVSUVWDQGEDJV JROIVXSSRUW KWWSIRUHPRVWJROIFRPLPSURYH\RXUJDPH BSODQDVS[ KWWSJROIGHSRWFRXNFDWHJRU\FORWKLQJ WRPP\KLOILJHUVZHDWHUVIRUPHQV KWWSIRUHPRVWJROIFRPLPSURYH\RXUJDPH BSODQDVS[ KWWSVJROIGHSRWFRXNSURGXFWGHWDLOVPL]XQ YLHZZHEVLWH RPSVHULHVSXWWHUVQHZ RVFDUMDFREVRQJROIZHDU RQOLQHVKRS KWWSJROIGHSRWFRXNSURGXFWGHWDLOVPL]XQR WRILQGRXWPRUHSOHDVHFOLFNKHUH JROIPSK\EULGQRZKDOISULFH JDOYLQJUHHQJROI PHQ FOLFNLQJKHUH KWWSJROIGHSRWFRXNSURGXFWGHWDLOVPL]XQR KWWSZZZZRUOGRIJROIFRXNZHEJXHVWGUDJ KWWSZZZJROIVXSSRUWFRXN² PSVHULHVSXWWHUVQHZ RQTXHVW KWWSIRUHPRVWJROIFRPLPSURYH\RXUJDPH «BSODQDVS[ JROIWUROOH\V SOHDVHFOLFNKHUH YLHZRULJLQDOVWRU\ ILQG\RXUQHDUHVWSUR KWWSJROIGHSRWFRXNSURGXFWGHWDLOVOI SULFH KWWSZZZJROIVXSSRUWFRXNSORQJULGJ RYHU SD\GD\ORDQVRQOLQHQDWLYHDPHULFDQ KWWSJROIGHSRWFRXNSURGXFWGHWDLOV QHZ RG\VVH\SXWWHUV GRZQORDG KWWSZZZJROIVXSSRUWF ODGLHV ZZZQFJROIVKRSFRXN ZZZSHWHUILHOGJROIFRXN ZZZJROIFUD]\FRXN ZZZWRWDOO\JROIFRP KWWSZZZQFJROIVKRSFRXN SHWHUILHOGJROIVKRS KWWSZZZJROIFUD]\FRXN ZZZWRWDOO\JROIFRP ZZZQFJROIVKRSFRXN ZZZJROIFUD]\FRXN ZHEVLWH ZHEVLWH KWWSZZZJROIFUD]\FRXN KWWSZZZJROIFUD]\FRXNKRPHSDJHDVS YLHZVLWH VUL[RQDGJROIEDOOV JROIFUD]\DOO\RXUJROILQJQHHGV JROIFUD]\ JROIFUD]\XN JROIFUD]\IRUDOOJROIQHHGV ORQJBEXWWRQDQD FDOODZD\GLDEORRFWDQHEODFNGULYHU FOLFNKHUH ʊ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¶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ɑɟɫɬɟɪ>ɮɨɬɨ@Ɏɨɪɭɦɵɧɚ7UDYHO5X *ROI7UROOH\V KWWSJROIGHSRWFRXNFDWHJRU\WUROOH\V :HE/LQNV'LUHFWRU\)UHHKXPDQHGLWHGZHE KWWSZOGLUHFWRU\FRPUHFUHDWLRQBDQGBVSRUWVSDJHKWPO VLWHVGLUHFWRU\5HFUHDWLRQ6SRUWV!3DJH KWWSJROIGHSRWFRXNEUDQGSRZDNDGG\ KWWSZZZSRZDNDGG\FRPLQGH[SKSVWRFNLVWVLQWHUQHW UHWDLOHUV $SSURYHG,QWHUQHW5HWDLOHUV3RZD.DGG\ (OHFWULF*ROI7UROOH\V KWWSJROIGHSRWFR KWWSJROIGHSRWFRXN XN KWWSIRUXPWUDYHOUXERDUGLNRQERDUGFJL" DFW 67I W ɑɟɫɬɟɪ>ɮɨɬɨ@Ɏɨɪɭɦɵɧɚ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ɑɟɫɬɟɪ>ɮɨɬɨ@Ɏɨɪɭɦɵɧɚ7UDYHO5X KWWSJROIGHSRWFR XNPHGLDLPDJHV KWWSJROIGHSRWFRXNPHGLDLPDJHVSURGXFWV7D KWWSJROIIRUXPQH[WJROILWSURVKRSVHWFRPSOHWRQLNHWP 6HWFRPSOHWR1LNH703LQJ&OHYHODQG 67((/MS \ORU0DGH%XUQHU67((/MSJ SLQJFOHYHODQGKWPO J JROIGHSRWFRXNF KWWSJROIGHSRWFRXNFDWHJRU\VKRHV KWWSZZZQRZSXEOLFFRPJROIGHSRW JROIGHSRW_1RZ3XEOLF0HPEHU3URILOH ZZZJROIGHSRWFR KWWSZZZJROIGHSRWFRXN XN KWWSZZZQRZSXEOLFFRPJROIGHSRW JROIGHSRW_1RZ3XEOLF0HPEHU3URILOH IRRWMR\VFLIOH[ JORYH KWWSJROIGHSRWFRXNPHGLDLPDJHVSURGXFWV)R KWWSZZZVKRSLWRIIFRXNJHQHUDOIRRWMR\VFLIOH[ RWMR\6FL)OH[*ORYHMSJ JORYHKWPO )RRWMR\6FLIOH[*ORYHLQIRUPHGLVIRUHDUPHG WD\ORUPDGHWS EXUQHUGULYHU KWWSZZZJROIGHSRWFRXNUHVRXUFHV%SLFWXUH( KWWSZZZUHGJUH\FRXNJHQHUDOWD\ORUPDGHWSEXUQHU MSJ GULYHUKWPO 7D\ORUPDGH7S%XUQHU'ULYHUUHYLHZVDQG SKRWRV -6,QWHUQDWLRQDO/WG KWWSJROIGHSRWFR KWWSJROIGHSRWFRXNSURGXFWGHWDLOVIRRWMR\VWUHHWVKRHV XNSURGXFWGHWDLOV KWWSZZZPL]XQRIRUXPFRPYLHZWRSLFSKS"I W QHZ QHZ 0L]XQR*ROI)RUXPV9LHZWRSLF)RRWMR\VWUHHW VKRHV " KWWSJROIGHSRWFR XNSURGXFWGHWDLOV KWWSJROIGHSRWFRXNSURGXFWGHWDLOVPL]XQRPSVHULHV PL]XQRPSVHULHV SXWWHUVQHZ SXWWHUVQHZ KWWSPL]XQRIRUXPFRPYLHZWRSLFSKS"I W 0L]XQR*ROI)RUXPV9LHZWRSLF037SXWWHUV KWWSJROIGHSRWFR XNSURGXFWGHWDLOV KWWSJROIGHSRWFRXNSURGXFWGHWDLOVPL]XQRPSVHULHV PL]XQRPSVHULHV SXWWHUVQHZ SXWWHUVQHZ KWWSPL]XQRIRUXPFRPYLHZWRSLFSKS" I W S 0L]XQR*ROI)RUXPV9LHZWRSLF037SXWWHUV 0L]XQR*ROI)RUXPV9LHZWRSLF03UDQJH IRP ZZZJROIGHSRWFR KWWSZZZJROIGHSRWFRXN XN KWWSZZZMVLQWFRPUHVRXUFHVFOLFJHDU5HWDLOHUVSKS KWWSVJROIGHSRWF RXNSURGXFWGHWDLO KWWSVJROIGHSRWFRXNSURGXFWGHWDLOVPL]XQRDHUROLWHVSU VPL]XQRDHUROLWH KWWSZZZPL]XQRIRUXPFRPYLHZWRSLFSKS"I W VWDQGEDJV VSUVWDQGEDJV 0RVW,PSRUWDQW/LQNVIRUZZZZRUOGRIJROIFRXN 7KLVOLVWVKRZVWKHPRVWLPSRUWDQWOLQNVWRZZZZRUOGRIJROIFRXNDQGOLVWVWKHDQFKRUWH[WOLQNWH[WDQGH[DFW SDJHRQWKHVLWHWKDWDOLQNSRLQWVWR,WDOVRVKRZVWKHH[DFW85/WKDWWKHOLQNLVSODFHGRQDORQJZLWKWKHSDJH WLWOH$UDWLQJRIHDFKSDJHLVJLYHQ7KHKLJKHUWKHUDWLQJWKHPRUHLPSRUWDQWWKHSDJH $QFKRU7H[W 7R8UO )URP8UO 3DJH7LWOH :RUOGRI*ROI KWWSZZZZRUOGRIJROIFRXNZHEJXHVWQHZPDOGHQ KWWSZZZJROIPDJLFFRPHTXLSPHQWIHDWXUHVWHQRIWKH EHVWJDPHLPSURYHPHQWLURQVKWPO 7HQRIWKH%HVW*DPHLPSURYHPHQWLURQV (TXLSPHQW)HDWXUHV*2/)PDJLF 5DWLQJ :RUOGRI*ROI KWWSZZZZRUOGRIJROIFRXNZHEJXHVWQHZPDOGHQ KWWSZZZJROIPDJLFFRPHTXLSPHQWIHDWXUHVWHQRIWKH EHVWSXWWHUVKWPO 7HQRIWKH%HVW3XWWHUV(TXLSPHQW )HDWXUHV*2/)PDJLF :RUOGRI*ROI &UR\GRQ KWWSZZZZRUOGRIJROIFRXNZHEJXHVWFUR\GRQ KWWSZZZRSHQSOD\FRXNEORJ 2SHQ3OD\_%RRNVSRUWVIDFLOLWLHVRQOLQH KWWSZZZZRUOGRI KWWSZZZZRUOGRIJROIFRXN JROIFRXN KWWSJROIRSHUDWRUPDJD]LQHFRPIHHG *ROI2SHUDWRU0DJD]LQH )UHH%HJLQQHUV *ROI/HVVRQV KWWSZZZIUHHELHUVFOXEFRXNVDYHPRQH\FLQHPDDQGWY )UHHELHUV&OXE8._)UHH&LQHPD7LFNHWV_)UHH 796KRZ7LFNHWV_)UHH(YHQWV7LFNHWV_&KHDS VKRZWLFNHWVLQGH[KWPO 'D\V2XW KWWSZZZZRUOGRIJROIFRXNZHEJXHVWOHVVRQV $OO)UHH8._)UHH&LQHPD7LFNHWV_)UHH79 6KRZ7LFNHWV_)UHH(YHQWV7LFNHWV_&KHDS 'D\V2XW )UHH%HJLQQHUV *ROI/HVVRQV KWWSZZZZRUOGRIJROIFRXNZHEJXHVWOHVVRQV KWWSZZZDOOIUHHXNFRXNVDYHPRQH\FLQHPDDQGWY VKRZWLFNHWVLQGH[KWPO &OLFNWRILQGRXW DERXWIUHHJROI OHVVRQVIRU EHJLQQHUV KWWSZZZZRUOGRIJROIFRXNZHEJXHVWOHVVRQV KWWSIUHHELHKXQWHUVEORJWRWDOZHEKRVWLQJFRXNBB )UHHELH+XQWHUV%ORJ0DUFK BDUFKLYHKWPO &OLFNWRILQGRXW DERXWIUHHJROI OHVVRQV KWWSVP\JROIZRUOGRIJROIFRXNSXE/HVVRQVDVS[ KWWSIUHHELHKXQWHUVEORJWRWDOZHEKRVWLQJFRXNBB )UHHELH+XQWHUV%ORJ-XQH BDUFKLYHKWPO )UHH%HJLQQHUV *ROI/HVVRQV KWWSZZZZRUOGRIJROIFRXNZHEJXHVWOHVVRQV KWWSZZZDOOIUHHXNFRXNVDYHPRQH\FLQHPDDQGWY VKRZWLFNHWVLQGH[KWPO $OO)UHH8._)UHH&LQHPD7LFNHWV_)UHH79 6KRZ7LFNHWV_)UHH(YHQWV7LFNHWV_&KHDS 'D\V2XW ZZZZRUOGRIJROIF RXN KWWSZZZZRUOGRIJROIFRXN KWWSZZZWDNHOLIHRQFRXNRIIHUV *UHDWRIIHUVWRJHWDFWLYH_7DNHOLIHRQRQHVWHS DWDWLPH :RUOGRI*ROI &UR\GRQ KWWSZZZZRUOGRIJROIFRXNZHEJXHVWGUDJRQTXHVW KWWSZDOGRUIORQGRQFRXNHYHQWVSDVW 3DVW(YHQWV &UR\GRQ KWWSZZZZRUOGRIJROIFRXNZHEJXHVWFUR\GRQ KWWSZZZRSHQSOD\FRXNEORJ -DQXDU\__2SHQ3OD\ 1HZ0DOGHQ KWWSZZZZRUOGRIJROIFRXNZHEJXHVWORFDWLRQQHZ PDOGHQ KWWSZZZRSHQSOD\FRXNEORJ -DQXDU\__2SHQ3OD\ 6LGFXS KWWSZZZZRUOGRIJROIFRXNZHEJXHVWVLGFXS KWWSZZZRSHQSOD\FRXNEORJ -DQXDU\__2SHQ3OD\ :RUOGRI*ROI &UR\GRQ KWWSZZZZRUOGRIJROIFRXNZHEJXHVWFUR\GRQ KWWSZZZRSHQSOD\FRXNEORJ 0D\__2SHQ3OD\ :RUOGRI*ROI &UR\GRQ KWWSZZZZRUOGRIJROIFRXNZHEJXHVWFUR\GRQ KWWSZZZRSHQSOD\FRXNEORJDXWKRUDGPLQ $GPLQ_2SHQ3OD\ :RUOGRI*ROI &UR\GRQ KWWSZZZZRUOGRIJROIFRXNZHEJXHVWFUR\GRQ KWWSZZZRSHQSOD\FRXNEORJFDWHJRU\SODFHJXLGHV 3ODFH*XLGHV_2SHQ3OD\ :RUOGRI*ROI &UR\GRQ KWWSZZZZRUOGRIJROIFRXNZHEJXHVWFUR\GRQ KWWSZZZRSHQSOD\FRXNEORJFDWHJRU\SODFH JXLGHVGXOZLFK 'XOZLFK_2SHQ3OD\ &UR\GRQ KWWSZZZZRUOGRIJROIFRXNZHEJXHVWFUR\GRQ KWWSZZZRSHQSOD\FRXNEORJFDWHJRU\SODFH JXLGHVORQGRQSODFHJXLGHV /RQGRQ_2SHQ3OD\ 1HZ0DOGHQ KWWSZZZZRUOGRIJROIFRXNZHEJXHVWORFDWLRQQHZ PDOGHQ KWWSZZZRSHQSOD\FRXNEORJFDWHJRU\SODFH JXLGHVORQGRQSODFHJXLGHV /RQGRQ_2SHQ3OD\ 0RVW,PSRUWDQW/LQNVIRUZZZJROIVXSSRUWFRXN 7KLVOLVWVKRZVWKHPRVWLPSRUWDQWOLQNVWRZZZJROIVXSSRUWFRXNDQGOLVWVWKHDQFKRUWH[WOLQNWH[WDQGH[DFW SDJHRQWKHVLWHWKDWDOLQNSRLQWVWR,WDOVRVKRZVWKHH[DFW85/WKDWWKHOLQNLVSODFHGRQDORQJZLWKWKHSDJH WLWOH$UDWLQJRIHDFKSDJHLVJLYHQ7KHKLJKHUWKHUDWLQJWKHPRUHLPSRUWDQWWKHSDJH $QFKRU7H[W )URP8UO 3DJH7LWOH KWWSZZZJROIVXS KWWSZZZJROIVXSSRUWFRXNS DGLGDVBFOLPDOLWHBSLQVWULSHBWH[WXUHGBVKRUW SRUWFRXN DVS[ 7R8UO KWWSZZZ]HE\OLQNVLQIR"FDWHJRU\ VSRUWV 6SRUWV_3XEOLVKHG_0\6LWH KWWSZZZJROIVXSSRUWFRXNS KWWSZZZJROIVXS DGLGDVBFOLPDOLWHBSLQVWULSHBWH[WXUHGBVKRUW SRUWFRXN DVS[ KWWS]HE\OLQNVLQIR"FDWHJRU\ VSRUWV 6SRUWV_3XEOLVKHG_0\6LWH *2/)6833257 (48,30(17 683(56725( KWWSZZZJROIVXSSRUWFRXN KWWSZZZILQGJROIVXSSOLHUVFRPVXEPLWZHEOLQNRQOLQH VKRSSLQJ 2QOLQH6KRSSLQJ)LQG*ROI6XSSOLHUVFRP $GLGDV$*7RXU 6WDQG%DJ KWWSZZZJROIVXSSRUWFRXNS DGLGDVBDJWRXUBVWDQGBEDJBDVS[ KWWSZZZYLVHQVDFRP6SRUWV 9LVHQVD,QWHUQHW:HE'LUHFWRU\6SRUWV $GLGDV$*7RXU 6WDQG%DJ KWWSZZZJROIVXSSRUWFRXNS DGLGDVBDJWRXUBVWDQGBEDJBDVS[ KWWSYLVHQVDFRP6SRUWV 9LVHQVD,QWHUQHW:HE'LUHFWRU\6SRUWV -HVVLFD6LPSVRQ KWWSZZZJROIVXSSRUWFRXNV SRZDNDGG\BSRZDNDGG\BHOHFWULFBWUROOH\VDVS[ KWWSJROIVZLQJODERUJWDJWRXUVWULNHUVDOH 7RXU6WULNHU6DOH*ROI6ZLQJ/DE KWWSZZZJROIVXSSRUWFRXN8SORDG,PDJHV%LJGE *DOYLQ*UHHQ*ROI KWWSZZZWKHJROIDGGLFWFRPFDWHJRU\XQFDWHJRUL]HG DIIHGIMSJ 5DWLQJ 8QFDWHJRUL]HG7KH*ROI$GGLFW *DOYLQ*UHHQ*ROI KWWSZZZJROIVXSSRUWFRXN8SORDG,PDJHV%LJGE KWWSZZZWKHJROI DIIHGIMSJ DGGLFWFRPFDWHJRU\XQFDWHJRUL]HGDGYDQFHG DGYDQFHG7KH*ROI$GGLFW JROIVXSSRUW KWWSZZZJROIVXSSRUWFRXN KWWSZZZEKSJFFRXN %X[WRQDQG+LJK3HDN*ROI&OXE *ROI6XSSRUW KWWSZZZJROIVXSSRUWFRXNFWD\ORUPDGHBJROI DVS[ KWWSWD\ORUPDGHJROIHXRQGHPDQGZDUHVWRUH6LWHV 70D*8.6LWHHQB*%3DJH6KRZ"FLG LQWHUQHWUHWDLOHUV ,QWHUQHW5HWDLOHUV KWWSZZZJROIVXSSRUWFRXNS KWWSZZZJROIVXS DGLGDVBFOLPDOLWHBSLQVWULSHBWH[WXUHGBVKRUW SRUWFRXN DVS[ KWWSZZZ]HE\OLQNVLQIRMXODQGDGDPFRP" FDWHJRU\ VSRUWV 6SRUWV_3XEOLVKHG_0\6LWH ZZZJROIVXSSRUWF KWWSZZZJROIVXSSRUWFRXN RXN KWWSZZZWVFORWKLQJFRPOLQNVSKS 76&ORWKLQJª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¶VDOPRVWWLPHIRUWKHILUVW0DMRU RIDQG&2%5$*ROILVFHOHEUDWLQJE\ EULQJLQJJROIHUVWKH$03&(///LPLWHG(GLWLRQ±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©6SRUWLQJ©5HWDLO6KRS8.VKRSSLQJ FKHDSVKRSSLQJRQOLQHGLVFRXQWV &KHDS*ROI 6XSSOLHV KWWSZZZFJGLVFRXQWJROIFRXN KWWSVRDUORJLQIRIHDWXUHVKWP *OLGLQJ&OXE6RIWZDUHIHDWXUHV 9LVLW:HEVLWH KWWSZZZFJGLVFRXQWJROIFRXN KWWSZZZXNZDUHKRXVHQHWVSRUWVFJJROIKWPO &**ROI_8.:DUHKRXVH &*'LVFRXQW*ROI KWWSZZZFJGLVFRXQWJROIFRXN KWWSFRPSDQ\OHDJXHFRXNOLQNVVSRUWVKWPO &//LQNV'LUHFWRU\IRURQOLQH6SRUWVOLQN H[FKDQJHVIURPWKH8. FJGLVFRXQWJROIFR KWWSZZZFJGLVFRXQWJROIFRXN XN KWWSJROILQJVJVLWHVFJGLVFRXQWJROIFRXN &JGLVFRXQWJROI&R8N6LWH,QIR*ROILQJ6* KWWSZZZFJGLVFR KWWSZZZFJGLVFRXQWJROIFRXN XQWJROIFRXN KWWSZZZODNHGLVWULFWGLUHFWRU\FRXNFDUOLVOHJROIFHQWUH LKWPO &DUOLVOH*ROI&HQWUH >,0$*(@ KWWSZZZFJGLVFRXQWJROIFRXN KWWSZZZSROLWLHNGXHOQO&RQWDFWDVS[ 9DNDQWLHGXHOQO >,0$*(@ KWWSZZZFJGLVFRXQWJROIFRXN KWWSYRXFKHUVLPFRGHV&*B*ROIBYRXFKHUBFRGHVKWPO &**ROI'LVFRXQW9RXFKHU&RGHVIRU ZZZFJGLVFRXQWJROIFRXN KWWSGRPDLQYDGHUFRPZHEVLWHWRSVLWHVSKS 7RSVLWHV7KHPRVWYLVLWHG VLWHVRQWKHZHE'RPDLQ9DGHU KWWSZZZFJGLVFRXQWJROIFRXN KWWSFJGLVFRXQWJ KWWSFJGLVFRXQWJROIFRXN ROIFRXN 0RVW,PSRUWDQW/LQNVIRUZZZMDPJROIFRP 7KLVOLVWVKRZVWKHPRVWLPSRUWDQWOLQNVWRZZZMDPJROIFRPDQGOLVWVWKHDQFKRUWH[WOLQNWH[WDQGH[DFWSDJH RQWKHVLWHWKDWDOLQNSRLQWVWR,WDOVRVKRZVWKHH[DFW85/WKDWWKHOLQNLVSODFHGRQDORQJZLWKWKHSDJHWLWOH$ UDWLQJRIHDFKSDJHLVJLYHQ7KHKLJKHUWKHUDWLQJWKHPRUHLPSRUWDQWWKHSDJH $QFKRU7H[W 7R8UO )URP8UO 3DJH7LWOH -DP*ROIFRP KWWSZZZMDPJROIFRPXN KWWSZZZJROIWRGD\FRXNHTXLSPHQWMDPJROI *ROI7RGD\(TXLSPHQW6KRS 7HUPV &RQGLWLRQV KWWSZZZMDPJROIFRPXNWHUPV KWWSZZZJROIWRGD\FRXNHTXLSPHQWMDPJROI *ROI7RGD\(TXLSPHQW6KRS -DP*ROIFRP KWWSZZZMDPJROIFRPXN KWWSJROIWRGD\FRXNHTXLSPHQWMDPJROI *ROI7RGD\(TXLSPHQW6KRS 7HUPV &RQGLWLRQV KWWSZZZMDPJROIFRPXNWHUPV KWWSJROIWRGD\FRXNHTXLSPHQWMDPJROI *ROI7RGD\(TXLSPHQW6KRS KWWSZZZMDPJROIFRP KWWSZZZURFNHWFRPPHUFHFRXN 5RFNHW&RPPHUFHH&RPPHUFHZHEVLWHEXLOGHUV LQ6RPHUVHW -DP*ROI KWWSZZZMDPJROIFRPXNWD\ORUPDGH KWWSWD\ORUPDGHJROIHXRQGHPDQGZDUHVWRUH6LWHV 70D*8.6LWHHQB*%3DJH6KRZ"FLG LQWHUQHWUHWDLOHUV ,QWHUQHW5HWDLOHUV -DP*ROI KWWSZZZMDPJROIFRPXN KWWSZZZOLIHVW\OHFRXNVSRUWVJROILQGH[KWP *ROI*ROI+ROLGD\V*ROILQJ+ROLGD\V KWWSZZZMDPJROI KWWSZZZMDPJROIFRPXN FRPXN KWWSEXVKQHOOJROIHXXNVKRSRQOLQHVKRSSKS $XWKRULVHG2QOLQH'HDOHUV KWWSZZZMDPJROI KWWSZZZMDPJROIFRPXN FRPXN KWWSEXVKQHOOJROIHXGHVKRSRQOLQHVKRSSKS 2QOLQH6KRS -DP*ROIFRP KWWSZZZMDPJROIFRPXN KWWSHTXLSPHQWMDPJROI *ROI7RGD\(TXLSPHQW6KRS 7HUPV &RQGLWLRQV KWWSZZZMDPJROIFRPXNWHUPV KWWSHTXLSPHQWMDPJROI *ROI7RGD\(TXLSPHQW6KRS KWWSZZZMDPJROIFRPXNWD\ORUPDGH KWWSDGLGDVJROIHXRQGHPDQGZDUHVWRUH6LWHV70D* 8.6LWHHQB*%3DJH6KRZ"FLG LQWHUQHWUHWDLOHUV ,QWHUQHW5HWDLOHUV -DP*ROI KWWSZZZMDPJROIFRPXNWD\ORUPDGH KWWSWD\ORUPDGHJROIFRXNLQWHUQHWUHWDLOHUVLQWHUQHWUHWDLOHU ,QWHUQHW5HWDLOHUV VHQB*%SJKWPO -DP*ROI KWWSZZZMDPJROIFRPXN KWWSZZZOLIHVW\OHGLUHFWRU\FRXNVSRUWVJROILQGH[KWP 9LVLWZHEVLWH -DP*ROI *ROIKROLGD\VHTXLSPHQW8.GLUHFWRU\ 5DWLQJ KWWSZZZJROIWRGD\FRXNHTXLSPHQWMDPJROIMDPJROIBUHWD *HQXLQHJROIHTXLSPHQWEDUJDLQVIURP LOHUBOLVWKWPO -DP*ROIFRP5HWDLOHUOLVW $GGLQJWRQ3DODFH KWWSZZZMDPJROIFRPXNUHWDLOHUV$GGLQJWRQ3DODFH*ROI KWWSZZZJROIWRGD\FRXNHTXLSPHQWMDPJROIMDPJROIBUHWD *HQXLQHJROIHTXLSPHQWEDUJDLQVIURP *& &OXE3UR6KRS LOHUBOLVWKWPO -DP*ROIFRP5HWDLOHUOLVW 9LVLW-DP*ROIFRP KWWSZZZMDPJROIFRPXN $LUGULH*& KWWSZZZMDPJROIFRPXNUHWDLOHUV$LUGULH*ROI&OXE3UR 6KRS KWWSZZZJROIWRGD\FRXNHTXLSPHQWMDPJROIMDPJROIBUHWD *HQXLQHJROIHTXLSPHQWEDUJDLQVIURP LOHUBOLVWKWPO -DP*ROIFRP5HWDLOHUOLVW $VWRQ:RRG*& KWWSZZZMDPJROIFRPXNUHWDLOHUV$VWRQ:RRG*ROI&OXE KWWSZZZJROIWRGD\FRXNHTXLSPHQWMDPJROIMDPJROIBUHWD *HQXLQHJROIHTXLSPHQWEDUJDLQVIURP 3UR6KRS LOHUBOLVWKWPO -DP*ROIFRP5HWDLOHUOLVW %LVKRSV6WRUWIRUG *& KWWSZZZMDPJROIFRPXNUHWDLOHUV%6*&$FDGHP\ KWWSZZZJROIWRGD\FRXNHTXLSPHQWMDPJROIMDPJROIBUHWD *HQXLQHJROIHTXLSPHQWEDUJDLQVIURP LOHUBOLVWKWPO -DP*ROIFRP5HWDLOHUOLVW %DEHUWRQ*& KWWSZZZMDPJROIFRPXNUHWDLOHUV%DEHUWRQ*ROI&OXE 3UR6KRS KWWSZZZJROIWRGD\FRXNHTXLSPHQWMDPJROIMDPJROIBUHWD *HQXLQHJROIHTXLSPHQWEDUJDLQVIURP LOHUBOLVWKWPO -DP*ROIFRP5HWDLOHUOLVW 0RVW,PSRUWDQW/LQNVIRUZZZPD[LPXVJROIFRXN 7KLVOLVWVKRZVWKHPRVWLPSRUWDQWOLQNVWRZZZPD[LPXVJROIFRXNDQGOLVWVWKHDQFKRUWH[WOLQNWH[WDQGH[DFW SDJHRQWKHVLWHWKDWDOLQNSRLQWVWR,WDOVRVKRZVWKHH[DFW85/WKDWWKHOLQNLVSODFHGRQDORQJZLWKWKHSDJH WLWOH$UDWLQJRIHDFKSDJHLVJLYHQ7KHKLJKHUWKHUDWLQJWKHPRUHLPSRUWDQWWKHSDJH $QFKRU7H[W 7R8UO )URP8UO 3DJH7LWOH 0D[LPXV KWWSZZZPD[LPXVJROIFRXNVHFWLRQSKSPDNVHU JROILURQV KWWSZZZSODQHWJROIUHYLHZFRP(TXLSPHQWUHYLHZVKWPO *ROI(TXLSPHQW5HYLHZV 5DWLQJ 0D[LPXV KWWSZZZPD[LPXVJROIFRXNVHFWLRQSKSPDNVHU JROILURQV KWWSSODQHWJROIUHYLHZFRP(TXLSPHQWUHYLHZVKWPO *ROI(TXLSPHQW5HYLHZV 0D[LPXV*ROI_ 2XU2QOLQH*ROI KWWSZZZPD[LPXVJROIFRXN 6KRSSLQJ3DUWQHU KWWSZZZVRXWKZHVWJROIJXUXFRP *ROI/HVVRQDQGFXVWRPJROIFOXEILWWLQJVZLWK 3*$3URIHVVLRQDO0LNH+DZWRQ_6RXWK:HVW*ROI *XUX 0D[LPXV*ROI 2QOLQH*ROI6WRUH KWWSZZZIUR]HQURSHFRXN )UR]HQ5RSH*ROI3HUIRUPDQFH3URGXFWVIRU 6HULRXV*ROIHUV&XVWRP*ROI'ULYHUV:RRGV DQG,URQV KWWSZZZDUWLFOHFOLFNFRP$UWLFOH+RZWR&KRRVHWKH%HVW +RZ7R&KRRVH7KH%HVW'UXK%HOWV)RU*ROI 'UXK%HOWVIRU*ROI*DPH *DPH" 7RXU(GJH KWWSZZZPD[LPXVJROIFRXNVHFWLRQSKSWRXU HGJHJROILURQV KWWSZZZDUWLFOHFOLFNFRP$UWLFOH+RZWR&KRRVHWKH%HVW +RZ7R&KRRVH7KH%HVW'UXK%HOWV)RU*ROI 'UXK%HOWVIRU*ROI*DPH *DPH" 0D[LPXV*ROI 2QOLQH6WRUH KWWSZZZPD[LPXVJROIFRXN KWWSZZZXNNRFRPVWRFNLVWV 8..26WRFNLVWV3UR6KRSV&ORWKLQJ6WRUHV DQG5HWDLOHUVWKDWVWRFNRXU$SSDUHO *DOYLQ*UHHQ KWWSZZZPD[LPXVJROIFRXNVHFWLRQSKSJDOYLQ JUHHQ KWWSZZZZLQF\VSLGHUFRPUHWDLODQG VKRSSLQJVSRUWVKWPO :HE'LUHFWRU\5HWDLO6KRSSLQJ!6SRUWV KWWSZZZPD[LPXVJROIFRXN KWWSZZZPD[LPX KWWSZZZPD[LPXVJROIFRXN VJROIFRXN 0D[LPXV*ROI KWWSZZZPD[LPXVJROIFRXN KWWSZZZFKLOOLGLSJROIFRXNVRXWKZHVWVKRSKWPO *ROI6KRS_'HYRQ6RPHUVHW6RXWK:HVW_ &KLOOL'LS*ROI 0D[LPXV*ROI KWWSZZZPD[LPXVJROIFRXN KWWSZZZFKLOOLGLSJROIFRXNVRXWKZHVWYHQXHVKWPO 9HQXHV_6RXWK:HVW_&KLOOL'LS*ROI 0D[LPXV*ROI_ 2XU2QOLQH*ROI KWWSZZZPD[LPXVJROIFRXN 6KRSSLQJ3DUWQHU KWWSZZZVRXWKZHVWJROIJXUXFRPFRQWDFWKWPO &RQWDFW_6RXWK:HVW*ROI*XUX 0D[LPXV*ROI_ 2XU2QOLQH*ROI KWWSZZZPD[LPXVJROIFRXN 6KRSSLQJ3DUWQHU KWWSZZZVRXWKZHVWJROIJXUXFRPIUHHVZLQJFKHFNSKS )UHH*ROI6ZLQJ&KHFN_6RXWK:HVW*ROI*XUX 0D[LPXV*ROI_ 2XU2QOLQH*ROI KWWSZZZPD[LPXVJROIFRXN 6KRSSLQJ3DUWQHU KWWSZZZVRXWKZHVWJROIJXUXFRPJROIFOXEEXLOGLQJKWPO *ROI&OXE%XLOGLQJ_6RXWK:HVW*ROI*XUX 0D[LPXV*ROI_ 2XU2QOLQH*ROI KWWSZZZPD[LPXVJROIFRXN 6KRSSLQJ3DUWQHU KWWSZZZVRXWKZHVWJROIJXUXFRPJROIOHVVRQ YRXFKHUVKWPO *ROI/HVVRQ9RXFKHUV_6RXWK:HVW*ROI*XUX 0D[LPXV*ROI_ 2XU2QOLQH*ROI KWWSZZZPD[LPXVJROIFRXN 6KRSSLQJ3DUWQHU KWWSZZZVRXWKZHVWJROIJXUXFRPJROIOHVVRQVDYRQKWPO *ROI/HVVRQV$YRQ_6RXWK:HVW*ROI*XUX 0D[LPXV*ROI_ 2XU2QOLQH*ROI KWWSZZZPD[LPXVJROIFRXN 6KRSSLQJ3DUWQHU KWWSZZZVRXWKZHVWJROIJXUXFRPJROIOHVVRQV FRUQZDOOKWPO *ROI/HVVRQV&RUQZDOO_6RXWK:HVW*ROI*XUX 0D[LPXV*ROI_ 2XU2QOLQH*ROI KWWSZZZPD[LPXVJROIFRXN 6KRSSLQJ3DUWQHU KWWSZZZVRXWKZHVWJROIJXUXFRPJROIOHVVRQV KDPSVKLUHKWPO *ROI/HVVRQV+DPSVKLUH_6RXWK:HVW*ROI*XUX 0D[LPXV*ROI_ 2XU2QOLQH*ROI KWWSZZZPD[LPXVJROIFRXN 6KRSSLQJ3DUWQHU KWWSZZZVRXWKZHVWJROIJXUXFRPJROIOHVVRQV ZLOWVKLUHKWPO *ROI/HVVRQV:LOWVKLUH_6RXWK:HVW*ROI*XUX 0D[LPXV*ROI_ 2XU2QOLQH*ROI KWWSZZZPD[LPXVJROIFRXN 6KRSSLQJ3DUWQHU KWWSZZZVRXWKZHVWJROIJXUXFRPJROIOHVVRQVKWPO 'HYRQ*ROI/HVVRQV_6RXWK:HVW*ROI*XUX 0D[LPXV*ROI_ 2XU2QOLQH*ROI KWWSZZZPD[LPXVJROIFRXN 6KRSSLQJ3DUWQHU KWWSZZZVRXWKZHVWJROIJXUXFRPORFDWLRQVKWPO 7LYHUWRQ*ROI&OXE'HYRQ_/RFDWLRQV_6RXWK :HVW*ROI*XUX 0RVW,PSRUWDQW/LQNVIRUZZZJUHJQLFKROVRQJROIFRXN 7KLVOLVWVKRZVWKHPRVWLPSRUWDQWOLQNVWRZZZJUHJQLFKROVRQJROIFRXNDQGOLVWVWKHDQFKRUWH[WOLQNWH[WDQG H[DFWSDJHRQWKHVLWHWKDWDOLQNSRLQWVWR,WDOVRVKRZVWKHH[DFW85/WKDWWKHOLQNLVSODFHGRQDORQJZLWKWKH SDJHWLWOH$UDWLQJRIHDFKSDJHLVJLYHQ7KHKLJKHUWKHUDWLQJWKHPRUHLPSRUWDQWWKHSDJH $QFKRU7H[W 7R8UO )URP8UO 3DJH7LWOH *5(**2/) 6/,'(5 KWWSZZZJUHJQLFKROVRQJROIFRXN KWWSZZZEODNHPHUHYLOODJHFRP (YHQWV$QG$FWLYLWLHV,Q&KHVKLUH_+RPH KWWSZZZJROI QRUWKZHVWFRXNRQOLQHBJROIBVKRSVRQOLQHBVKRSVKWP 2QOLQH*ROI6KRSV*ROI1RUWK:HVW $SSURYHG,QWHUQHW5HWDLOHUV3RZD.DGG\ (OHFWULF*ROI7UROOH\V *UHJ1LFKROVRQ*RO KWWSZZZJUHJQLFKROVRQJROIFRXN IFRXN *UHJ1LFKROVRQ *ROI*UHJ 1LFKROVRQ*ROI KWWSZZZJUHJQLFKROVRQJROIFRXNDFDWDORJ3RZDNDGG\B KWWSZZZSRZDNDGG\FRPLQGH[SKSVWRFNLVWVLQWHUQHW (OHFWULFB*ROIB7UROOH\VBBB$FFHVVRULHVKWPO UHWDLOHUV ZZZJUHJQLFKROVR KWWSZZZJUHJQLFKROVRQJROIFRXN QJROIFRXN 6WRFNLVWV_/\Q[*ROI 1HZ3URGXFW KWWSZZZJUHJQLFKROVRQJROIFRXNDFDWDORJ]OMSJ KWWSSKRWRVP\EORJLWWDJSULPL &REUD SULPLSKRWRV *ROIFOXEVDQG GLVFRXQWJROILQJ HTXLSPHQW DYDLODEOHRQOLQH 6XQGUHQFKHG*ROI*ROIKROLGD\VRQWKH&RVWD %ODQFD 1HZ3URGXFW KWWSZZZJUHJQLFKROVRQJROIFRXNDFDWDORJ]OMSJ KWWSSKRWRVP\EORJLWWDJGURJD &REUD GURJDSKRWRV 1HZ3URGXFW KWWSZZZJUHJQLFKROVRQJROIFRXNDFDWDORJ]OMSJ KWWSSKRWRVP\EORJLWWDJQDSROL &REUD QDSROLSKRWRV *ROIFOXEVDQG GLVFRXQWJROILQJ HTXLSPHQW DYDLODEOHRQOLQH 6XQGUHQFKHG*ROI*ROIKROLGD\VRQWKH&RVWD %ODQFD 1HZ3URGXFW KWWSZZZJUHJQLFKROVRQJROIFRXNDFDWDORJ]OMSJ KWWSSKRWRVP\EORJLWWDJHFRQRPLD &REUD HFRQRPLDSKRWRV JQKHDGHU KWWSZZZWKXJVJROIFRXNKWPOOLQNVKWP /LQNV *UHJ1LFKROVRQ*RO KWWSZZZJUHJQLFKROVRQJROIFRXN IFRXN KWWSJROI QRUWKZHVWFRXNRQOLQHBJROIBVKRSVRQOLQHBVKRSVKWP 2QOLQH*ROI6KRSV*ROI1RUWK:HVW *ROIFOXEVDQG GLVFRXQWJROILQJ HTXLSPHQW DYDLODEOHRQOLQH KWWSZZZJUHJQLFKROVRQJROIFRXNDFDWDORJEHVWSULFH JXDUDQWHHVHDOWKXPEMSJ KWWSFKHDSJROIHTXLSPHQWLQIRGLVFRXQWGLVFRXQWJROI FOXEVXNVDOHKWPO 'LVFRXQW*ROI&OXEV8N6DOH_&KHDS*ROI (TXLSPHQW *ROIFOXEVDQG GLVFRXQWJROILQJ HTXLSPHQW DYDLODEOHRQOLQH KWWSZZZJUHJQLFKROVRQJROIFRXNDFDWDORJEHVWSULFH JXDUDQWHHVHDOWKXPEMSJ KWWSFKHDSJROIHTXLSPHQWLQIRFKHDSFKHDSJROIFOXEV XNKWPO &KHDS*ROI&OXEV8N_&KHDS*ROI(TXLSPHQW *ROIFOXEVDQG GLVFRXQWJROILQJ HTXLSPHQW DYDLODEOHRQOLQH KWWSZZZJUHJQLFKROVRQJROIFRXNDFDWDORJEHVWSULFH JXDUDQWHHVHDOWKXPEMSJ KWWSFKHDSJROIHTXLSPHQWLQIRFKHDSHVWFKHDSHVWJROI FOXEVXNKWPO &KHDSHVW*ROI&OXEV8N_&KHDS*ROI(TXLSPHQW *UHJ1LFKROVRQV *ROI KWWSZZZJUHJQLFKROVRQJROIFRXN KWWSZZZGPR]RUJ6KRSSLQJ6SRUWV*ROI 2SHQ'LUHFWRU\6KRSSLQJ6SRUWV*ROI KWWSZZZO\Q[JROIFRXNVWRFNLVWUHJLRQQRUWKZHVW 1RUWK:HVW_/\Q[*ROI /\Q[%ODFN&DW,URQ5HYLHZV5DWLQJV3LFWXUHV 'HWDLOV KWWSZZZJUHJQLFKROVRQJROIFRXN KWWSZZZJUHJQLFKROVRQJROIFRXN KWWSJUHJQLFKROVRQJROIFRXN ZZZJUHJQLFKROVR KWWSZZZJUHJQLFKROVRQJROIFRXN QJROIFRXN KWWSZZZO\Q[JROIFRXNVWRFNLVWV 5DWLQJ KWWSZZZVXQGUHQFKHGJROIFRPLQGH[SKS"DFWLRQ OLQNV KWWSVXQGUHQFKHGJROIFRPLQGH[SKS"DFWLRQ OLQNV *UHJ1LFKROVRQ *ROI,URQV KWWSZZZJUHJQLFKROVRQJROIFRXNDFDWDORJ%ODFN&DW&KUR KWWSZZZPRELOHJROIVWDWVFRPUHYLHZV/\Q[%ODFN&DW PH,URQMSJ ,URQVBKWP *UHJ1LFKROVRQ *ROI6UL[RQ 3UHPLXP*ROI %DOOV KWWSZZZJUHJQLFKROVRQJROIFRXNDFDWDORJVUL[RQJUHHQM KWWSZZZPRELOHJROIVWDWVFRPVDOH6UL[RQ6RIW)HHO*RO 6UL[RQ6RIW)HHO*ROI%DOO5HYLHZV3LFWXUHV SJ I%DOOBBKWP &RPSDULVRQ6KRS *UHJ1LFKROVRQV *ROI KWWSZZZJUHJQLFKROVRQJROIFRXN KWWSZZZJROILQJMREVRUJ*ROIB6KRSSLQJKWPO *2/),1*-2%6*ROI6KRSSLQJ *ROILQJ-REVRUJ 0RVW,PSRUWDQW/LQNVIRUZZZOHIWKDQGHGJROIFRXN 7KLVOLVWVKRZVWKHPRVWLPSRUWDQWOLQNVWRZZZOHIWKDQGHGJROIFRXNDQGOLVWVWKHDQFKRUWH[WOLQNWH[WDQG H[DFWSDJHRQWKHVLWHWKDWDOLQNSRLQWVWR,WDOVRVKRZVWKHH[DFW85/WKDWWKHOLQNLVSODFHGRQDORQJZLWKWKH SDJHWLWOH$UDWLQJRIHDFKSDJHLVJLYHQ7KHKLJKHUWKHUDWLQJWKHPRUHLPSRUWDQWWKHSDJH $QFKRU7H[W 7R8UO )URP8UO 3DJH7LWOH /HIW+DQGHG*ROI KWWSZZZOHIWKDQGHGJROIFRXN KWWSZZZLQWHUQHWJROIVWRUHFRXN *ROIFOXEVJROIHTXLSPHQWJROIDFFHVVRULHVDQG FORWKLQJ /HIW+DQGHG*ROI KWWSZZZOHIWKDQGHGJROIFRXN KWWSZZZLQWHUQHWJROIVWRUHFRXNEORJJROIYLGHRVKWPO *ROI9LGHRV_,QWHUQHW*ROI6WRUH ZZZOHIWKDQGHGJR KWWSZZZOHIWKDQGHGJROIFRXN OIFRXN KWWSZZZWKHVRFLDOJROIHUFRP)ULHQGV2I76*DVS[ 7KH6RFLDO*ROIHU)ULHQGVRI76* ZZZOHIWKDQGHGJR KWWSZZZOHIWKDQGHGJROIFRXN OIFRXN KWWSWKHVRFLDOJROIHUFRP)ULHQGV2I76*DVS[ 7KH6RFLDO*ROIHU)ULHQGVRI76* /()7B+$1'('B *2/) KWWSZZZOHIWKDQGHGJROIFRXN 5DWLQJ KWWSZZZORQGRQJROIVKRZFRP /RQGRQ*ROI6KRZ+RPH ZZZOHIWKDQGHGJR KWWSZZZOHIWKDQGHGJROIFRXN OIFRXN KWWSZZZWKHVRFLDOJROIHUFRXN)ULHQGV2I76*DVS[ 7KH6RFLDO*ROIHU)ULHQGVRI76* &OLFNKHUHWRYLVLW WKHLUZHEVLWHDW KWWSZZZOHIWKDQGHGJROIFRXN ZZZOHIWKDQGHGJR OIFRXN KWWSZZZDQ\WKLQJOHIWKDQGHGFRXNZHEPDVWHUVJROI FOXEVKWPO *ROIFOXEV_$Q\WKLQJ/HIW+DQGHG ,QWHUQHW5HWDLOHUV KWWSZZZLQWHUQHWJROIVWRUHFRXNEUDQGIRRWMR\P\MR\VKW PO 0\-R\V&XVWRP)RRW-R\0\-R\V'HVLJQ\RXU RZQ KWWSZZZLQWHUQHWJROIVWRUHFRXNEORJ *ROIHTXLSPHQWDQGJROIDGYLFH,QWHUQHW*ROI 6WRUH /HIW+DQGHG*ROI KWWSZZZOHIWKDQGHGJROIFRXNVKRSVHDUFKBUHVXOWVVHDUF KBUHVXOWVDVS" KWWSWD\ORUPDGHJROIHXRQGHPDQGZDUHVWRUH6LWHV XVHUV W\SHV PDQX NH\ZRUGV (QWHUNH\ZRUGVV 70D*8.6LWHHQB*%3DJH6KRZ"FLG LQWHUQHWUHWDLOHUV XEPLW ),1',7 /HIW+DQGHG*ROI KWWSZZZOHIWKDQGHGJROIFRXN /HIW+DQGHG*ROI KWWSZZZOHIWKDQGHGJROIFRXN >,0$*(@ KWWSZZZOHIWKDQGHGJROIFRXNVFULSWVDGGEDVNHWDVS KWWSYNJROIVKRSFRPLQGH[SKS"ZV ODWHVWQHZV ;;,2 .XDOD/XPSXU./ 0DOD\VLD6XSSOLHU:KROHVDOHU([SRUWHU 5HWDLOHU6XSSO\ 9.*ROI >,0$*(@ KWWSZZZOHIWKDQGHGJROIFRXN KWWSZZZVFDPSSVRUJXN'HIDXOWDVS[ 6&$0336 /HIW+DQGHG*ROI KWWSZZZOHIWKDQGHGJROIFRXN KWWSZZZLQWHUQHWJROIVWRUHFRXNEUDQGWD\ORUPDGHKWPO 7D\ORU0DGH*ROI&OXEVDQG7D\ORU0DGH $FFHVVRULHV /HIW+DQGHG*ROI KWWSZZZOHIWKDQGHGJROIFRXN KWWSZZZLQWHUQHWJROIVWRUHFRXNFRQWDFWV *ROIFOXEVDQG*ROI(TXLSPHQWIURP,QWHUQHW*ROI 6WRUH /HIW+DQGHG*ROI KWWSZZZOHIWKDQGHGJROIFRXN KWWSZZZLQWHUQHWJROIVWRUHFRXNEUDQGFREUDKWPO &REUD*ROI&OXEVDQG&REUD$FFHVVRULHV /HIW+DQGHG*ROI KWWSZZZOHIWKDQGHGJROIFRXN KWWSZZZLQWHUQHWJROIVWRUHFRXNEUDQGFDOODZD\KWPO &DOODZD\*ROI&OXEVDQG&DOODZD\$FFHVVRULHV /HIW+DQGHG*ROI KWWSZZZOHIWKDQGHGJROIFRXN KWWSZZZLQWHUQHWJROIVWRUHFRXNEUDQGSRZDNDGG\KWPO 3RZDNDGG\7UROOH\VDQG3RZDNDGG\ $FFHVVRULHV /HIW+DQGHG*ROI KWWSZZZOHIWKDQGHGJROIFRXN KWWSZZZLQWHUQHWJROIVWRUHFRXNEUDQGDGLGDVKWPO $GLGDV*ROIIRRWZHDU6W\OLVKDQGVSHFLDOLVHG VKRHV /HIW+DQGHG*ROI KWWSZZZOHIWKDQGHGJROIFRXN KWWSZZZLQWHUQHWJROIVWRUHFRXNEUDQGFOHYHODQGKWPO &OHYHODQG*ROI&OXEVDQG&OHYHODQG$FFHVVRULHV /HIW+DQGHG*ROI KWWSZZZOHIWKDQGHGJROIFRXN KWWSZZZLQWHUQHWJROIVWRUHFRXNEUDQGIRRWMR\KWPO )RRWMR\*ROI6KRHVDQG)RRWMR\$FFHVVRULHV 0RVW,PSRUWDQW/LQNVIRUZZZVFRWJROIVKRSFRP 7KLVOLVWVKRZVWKHPRVWLPSRUWDQWOLQNVWRZZZVFRWJROIVKRSFRPDQGOLVWVWKHDQFKRUWH[WOLQNWH[WDQGH[DFW SDJHRQWKHVLWHWKDWDOLQNSRLQWVWR,WDOVRVKRZVWKHH[DFW85/WKDWWKHOLQNLVSODFHGRQDORQJZLWKWKHSDJH WLWOH$UDWLQJRIHDFKSDJHLVJLYHQ7KHKLJKHUWKHUDWLQJWKHPRUHLPSRUWDQWWKHSDJH $QFKRU7H[W 7R8UO )URP8UO 3DJH7LWOH 'XPIULHVDQG *DOORZD\*ROI &OXE3UR6KRS 5DWLQJ KWWSZZZVFRWJROIVKRSFRP KWWSZZZGDQGJJROIFOXEFRXN :HOFRPHWRWKH'**ROI&OXE:HEVLWH 'XPIULHVDQG *DOORZD\*ROI &OXE3UR6KRS KWWSZZZVFRWJROIVKRSFRP KWWSZZZGDQGJJROIFOXEFRXNFOXEKLVWRU\DEULHIKLVWRU\ $%ULHI+LVWRU\2I7KH&OXE RIWKHFOXE 'XPIULHVDQG *DOORZD\*ROI &OXE3UR6KRS KWWSZZZVFRWJROIVKRSFRP KWWSZZZGDQGJJROIFOXEFRXNFOXEKRXVH 7KH&OXEKRXVH 'XPIULHVDQG *DOORZD\*ROI &OXE3UR6KRS KWWSZZZVFRWJROIVKRSFRP KWWSZZZGDQGJJROIFOXEFRXNFOXEKRXVHFDWHULQJ &DWHULQJ 'XPIULHVDQG *DOORZD\*ROI &OXE3UR6KRS KWWSZZZVFRWJROIVKRSFRP KWWSZZZGDQGJJROIFOXEFRXNFOXEKRXVHHYHQWV IXQFWLRQV (YHQWV)XQFWLRQV 'XPIULHVDQG *DOORZD\*ROI &OXE3UR6KRS KWWSZZZVFRWJROIVKRSFRP KWWSZZZGDQGJJROIFOXEFRXNFOXEKRXVHIDFLOLWLHV )DFLOLWLHV 'XPIULHVDQG *DOORZD\*ROI &OXE3UR6KRS KWWSZZZVFRWJROIVKRSFRP KWWSZZZGDQGJJROIFOXEFRXNFOXEKRXVHIXOOPHQX 0$,10(18 'XPIULHVDQG *DOORZD\*ROI &OXE3UR6KRS KWWSZZZVFRWJROIVKRSFRP KWWSZZZGDQGJJROIFOXEFRXNFOXEKRXVHJROILQJ SDFNDJHVPHQXV *ROILQJ3DFNDJHV0HQXV 'XPIULHVDQG *DOORZD\*ROI &OXE3UR6KRS KWWSZZZVFRWJROIVKRSFRP KWWSZZZGDQGJJROIFOXEFRXNFOXEKRXVHVQDFNV 61$&.0(18 'XPIULHVDQG *DOORZD\*ROI &OXE3UR6KRS KWWSZZZVFRWJROIVKRSFRP KWWSZZZGDQGJJROIFOXEFRXNFOXEKRXVHZLQHOLVW :,1(/,67 'XPIULHVDQG *DOORZD\*ROI &OXE3UR6KRS KWWSZZZVFRWJROIVKRSFRP KWWSZZZGDQGJJROIFOXEFRXNFRQWDFWILQGXV &217$&7),1'86 'XPIULHVDQG *DOORZD\*ROI &OXE3UR6KRS KWWSZZZVFRWJROIVKRSFRP KWWSZZZGDQGJJROIFOXEFRXNGUDZV UHVXOWVGUDZVJHQWOHPHQ 'UDZV*HQWOHPHQ 'XPIULHVDQG *DOORZD\*ROI &OXE3UR6KRS KWWSZZZVFRWJROIVKRSFRP KWWSZZZGDQGJJROIFOXEFRXNGUDZV UHVXOWVGUDZVMXQLRUV -XQLRUV 'XPIULHVDQG *DOORZD\*ROI &OXE3UR6KRS KWWSZZZVFRWJROIVKRSFRP KWWSZZZGDQGJJROIFOXEFRXNGUDZV UHVXOWVUHVXOWVMXQLRUV -XQLRUV 'XPIULHVDQG *DOORZD\*ROI &OXE3UR6KRS KWWSZZZVFRWJROIVKRSFRP KWWSZZZGDQGJJROIFOXEFRXNGUDZV UHVXOWVUHVXOWVODGLHV /DGLHV 'XPIULHVDQG *DOORZD\*ROI &OXE3UR6KRS KWWSZZZVFRWJROIVKRSFRP KWWSZZZGDQGJJROIFOXEFRXNGUDZV UHVXOWVUHVXOWVPL[HG 0L[HG 'XPIULHVDQG *DOORZD\*ROI &OXE3UR6KRS KWWSZZZVFRWJROIVKRSFRP KWWSZZZGDQGJJROIFOXEFRXNGUDZV UHVXOWVUHVXOWVSUL]HZLQQHUV 3UL]H:LQQHUV 'XPIULHVDQG *DOORZD\*ROI &OXE3UR6KRS KWWSZZZVFRWJROIVKRSFRP KWWSZZZGDQGJJROIFOXEFRXNIL[WXUHV )L[WXUHV 'XPIULHVDQG *DOORZD\*ROI &OXE3UR6KRS KWWSZZZVFRWJROIVKRSFRP KWWSZZZGDQGJJROIFOXEFRXNJDOOHU\FOXEKRXVH &OXEKRXVH 'XPIULHVDQG *DOORZD\*ROI &OXE3UR6KRS KWWSZZZVFRWJROIVKRSFRP KWWSZZZGDQGJJROIFOXEFRXNJDOOHU\SDVW\HDUV 3DVW<HDUV 0RVW,PSRUWDQW/LQNVIRUZZZDEFJROIFRXN 7KLVOLVWVKRZVWKHPRVWLPSRUWDQWOLQNVWRZZZDEFJROIFRXNDQGOLVWVWKHDQFKRUWH[WOLQNWH[WDQGH[DFWSDJH RQWKHVLWHWKDWDOLQNSRLQWVWR,WDOVRVKRZVWKHH[DFW85/WKDWWKHOLQNLVSODFHGRQDORQJZLWKWKHSDJHWLWOH$ UDWLQJRIHDFKSDJHLVJLYHQ7KHKLJKHUWKHUDWLQJWKHPRUHLPSRUWDQWWKHSDJH $QFKRU7H[W 7R8UO )URP8UO 3DJH7LWOH $%&*ROI KWWSZZZDEFJROIFRXN KWWSZZZZKHUHJROIFRPOLQNVDVS[ 7RS*ROI&RXUVHVIRU*ROI9DFDWLRQVRU*ROI +ROLGD\VDURXQGWKH:RUOG:KHUH*ROI*XLGH 5DWLQJ XQGHUDUPRXUJROI VKLUWV KWWSZZZDEFJROIFRXN*ROI&ORWKLQJ*ROI6KLUWV8QGHU $UPRXUFDWOLVWBFWEGKWP KWWSZZZJRULOODJROIEORJFRP *RULOOD*ROI%ORJ*ROI1HZV9LGHRV5HYLHZV 7LSV/LIHVW\OH %HVWGHDOVRQ 8QGHU$UPRXU 3LQJ$GLGDV1LNH DQGRWKHU PDQXIDFWXUHUVRI KWWSZZZDEFJROIFRXN TXDOLW\*ROI &ORWKHVDQG HTXLSPHQW$%& *ROI1H[WGD\ GHOLYHU\WRR KWWSZZZIUXJDOOHUIRUXPFRXN )UHHVWXIIIRUXPVDYLQJ\RXPRQH\ZLWKYRXFKHU FRGHVFRPSHWLWLRQVIUHHELHV %HVWGHDOVRQ 8QGHU$UPRXU 3LQJ$GLGDV1LNH DQGRWKHU PDQXIDFWXUHUVRI KWWSZZZDEFJROIFRXN TXDOLW\*ROI &ORWKHVDQG HTXLSPHQW$%& *ROI1H[WGD\ GHOLYHU\WRR KWWSZZZIUXJDOOHUIRUXPFRXNKHDOWKEHDXW\IDVKLRQ YRXFKHUFRGHVFRXSRQV +HDOWK%HDXW\)DVKLRQYRXFKHUFRGHV &RXSRQV %HVWGHDOVRQ 8QGHU$UPRXU 3LQJ$GLGDV1LNH DQGRWKHU PDQXIDFWXUHUVRI KWWSZZZDEFJROIFRXN TXDOLW\*ROI &ORWKHVDQG HTXLSPHQW$%& *ROI1H[WGD\ GHOLYHU\WRR KWWSZZZIUXJDOOHUIRUXPFRXNRWKHUYRXFKHUFRGHV FRXSRQVQRWDERYH 2WKHUYRXFKHUFRGHV&RXSRQVQRWLQDERYH %HVWGHDOVRQ 8QGHU$UPRXU 3LQJ$GLGDV1LNH DQGRWKHU PDQXIDFWXUHUVRI KWWSZZZDEFJROIFRXN TXDOLW\*ROI &ORWKHVDQG HTXLSPHQW$%& *ROI1H[WGD\ GHOLYHU\WRR KWWSZZZIUXJDOOHUIRUXPFRXNIUHHVWXIIRIIHUVQRZ HQGHG )UHHVWXII2IIHUVQRZHQGHG %HVWGHDOVRQ 8QGHU$UPRXU 3LQJ$GLGDV1LNH DQGRWKHU PDQXIDFWXUHUVRI KWWSZZZDEFJROIFRXN TXDOLW\*ROI &ORWKHVDQG HTXLSPHQW$%& *ROI1H[WGD\ GHOLYHU\WRR KWWSZZZIUXJDOOHUIRUXPFRXNKHDOWKEHDXW\IDVKLRQ RIIHUVEDUJDLQVVDOHV +HDOWK%HDXW\)DVKLRQRIIHUVEDUJDLQV VDOHV %HVWGHDOVRQ 8QGHU$UPRXU 3LQJ$GLGDV1LNH DQGRWKHU PDQXIDFWXUHUVRI KWWSZZZDEFJROIFRXN TXDOLW\*ROI &ORWKHVDQG HTXLSPHQW$%& *ROI1H[WGD\ GHOLYHU\WRR KWWSZZZIUXJDOOHUIRUXPFRXNKRPHJDUGHQYRXFKHU FRGHVFRXSRQV +RPHJDUGHQYRXFKHUFRGHV&RXSRQV %HVWGHDOVRQ 8QGHU$UPRXU 3LQJ$GLGDV1LNH DQGRWKHU PDQXIDFWXUHUVRI KWWSZZZDEFJROIFRXN TXDOLW\*ROI &ORWKHVDQG HTXLSPHQW$%& *ROI1H[WGD\ GHOLYHU\WRR KWWSZZZIUXJDOOHUIRUXPFRXNWDJVVDYHKWPO VDYHVDYHIRUXP %HVWGHDOVRQ 8QGHU$UPRXU 3LQJ$GLGDV1LNH DQGRWKHU PDQXIDFWXUHUVRI KWWSZZZDEFJROIFRXN TXDOLW\*ROI &ORWKHVDQG HTXLSPHQW$%& *ROI1H[WGD\ GHOLYHU\WRR KWWSZZZIUXJDOOHUIRUXPFRXNWDJVPRQH\RIIKWPO PRQH\RIIPRQH\RIIIRUXP %HVWGHDOVRQ 8QGHU$UPRXU 3LQJ$GLGDV1LNH DQGRWKHU PDQXIDFWXUHUVRI KWWSZZZDEFJROIFRXN TXDOLW\*ROI &ORWKHVDQG HTXLSPHQW$%& *ROI1H[WGD\ GHOLYHU\WRR KWWSZZZIUXJDOOHUIRUXPFRXNKRPHJDUGHQRIIHUV EDUJDLQVVDOHV +RPHDQGJDUGHQRIIHUVEDUJDLQVVDOHV %HVWGHDOVRQ 8QGHU$UPRXU 3LQJ$GLGDV1LNH DQGRWKHU PDQXIDFWXUHUVRI KWWSZZZDEFJROIFRXN TXDOLW\*ROI &ORWKHVDQG HTXLSPHQW$%& *ROI1H[WGD\ GHOLYHU\WRR KWWSZZZIUXJDOOHUIRUXPFRXNKHDOWKEHDXW\IDVKLRQ YRXFKHUFRGHVFRXSRQVFRDVWIUHHQH[WGD\ GHOLYHU\FRGH &RDVWIUHHQH[WGD\GHOLYHU\FRGH %HVWGHDOVRQ 8QGHU$UPRXU 3LQJ$GLGDV1LNH DQGRWKHU PDQXIDFWXUHUVRI KWWSZZZDEFJROIFRXN TXDOLW\*ROI &ORWKHVDQG HTXLSPHQW$%& *ROI1H[WGD\ GHOLYHU\WRR KWWSZZZIUXJDOOHUIRUXPFRXNRWKHUYRXFKHUFRGHV FRXSRQVQRWDERYHVXUIGRPHXSRIIGLVFRXQW YRXFKHUFRGHV 6XUIGRPHXSWRRIIGLVFRXQWYRXFKHUFRGHV %HVWGHDOVRQ 8QGHU$UPRXU 3LQJ$GLGDV1LNH DQGRWKHU PDQXIDFWXUHUVRI KWWSZZZDEFJROIFRXN TXDOLW\*ROI &ORWKHVDQG HTXLSPHQW$%& *ROI1H[WGD\ GHOLYHU\WRR KWWSZZZIUXJDOOHUIRUXPFRXNKHDOWKEHDXW\IDVKLRQ YRXFKHUFRGHVFRXSRQVD[SDULVH[WUDRIIVDOH LWHPVGLVFRXQWYRXFKHUFRGHD $[3DULVH[WUDRIIVDOHLWHPVGLVFRXQW YRXFKHUFRGH %HVWGHDOVRQ 8QGHU$UPRXU 0RVW,PSRUWDQW/LQNVIRUZZZJROIFRXN 3LQJ$GLGDV1LNH DQGRWKHU PDQXIDFWXUHUVRI KWWSZZZIUXJDOOHUIRUXPFRXNKHDOWKEHDXW\IDVKLRQ KWWSZZZDEFJROIFRXN 2DVLVIUHHGHOLYHU\FRGH 7KLVOLVWVKRZVWKHPRVWLPSRUWDQWOLQNVWRZZZJROIFRXNDQGOLVWVWKHDQFKRUWH[WOLQNWH[WDQGH[DFWSDJH TXDOLW\*ROI YRXFKHUFRGHVFRXSRQVRDVLVIUHHGHOLYHU\FRGH &ORWKHVDQG RQWKHVLWHWKDWDOLQNSRLQWVWR,WDOVRVKRZVWKHH[DFW85/WKDWWKHOLQNLVSODFHGRQDORQJZLWKWKHSDJHWLWOH$ HTXLSPHQW$%& *ROI1H[WGD\ UDWLQJRIHDFKSDJHLVJLYHQ7KHKLJKHUWKHUDWLQJWKHPRUHLPSRUWDQWWKHSDJH GHOLYHU\WRR %HVWGHDOVRQ 8QGHU$UPRXU $QFKRU7H[W 3LQJ$GLGDV1LNH DQGRWKHU ZZZJROIFRX NPDQXIDFWXUHUVRI TXDOLW\*ROI ZZZJROIFRX &ORWKHVDQG N HTXLSPHQW$%& *ROI1H[WGD\ ZZZJROIFRX NGHOLYHU\WRR %HVWGHDOVRQ >,0$*(@ 8QGHU$UPRXU 3LQJ$GLGDV1LNH >,0$*(@ DQGRWKHU PDQXIDFWXUHUVRI KWWSZZZJROI TXDOLW\*ROI FRXN &ORWKHVDQG 3HUVRQDOLVHGJROI HTXLSPHQW$%& EDOOV *ROI1H[WGD\ GHOLYHU\WRR FXVWRPJROIEDOOV %HVWGHDOVRQ *ROI&OXEV 8QGHU$UPRXU 3LQJ$GLGDV1LNH DQGRWKHU JROIEDJV PDQXIDFWXUHUVRI TXDOLW\*ROI &OLFJHDU*ROI &ORWKHVDQG HTXLSPHQW$%& *ROI1H[WGD\ KWWSZZZJROI GHOLYHU\WRR FRXN %HVWGHDOVRQ KWWSZZZJROI 8QGHU$UPRXU FRXN 3LQJ$GLGDV1LNH DQGRWKHU :ULWHD5HYLHZ PDQXIDFWXUHUVRI DQGHDUQZRUWK TXDOLW\*ROI RISRLQWV &ORWKHVDQG HTXLSPHQW$%& FKHDSJROIFOXEV *ROI1H[WGD\ >,0$*(@ GHOLYHU\WRR %HVWGHDOVRQ ODXQFK 8QGHU$UPRXU 3LQJ$GLGDV1LNH *2/) DQGRWKHU PDQXIDFWXUHUVRI JROIHTXLSPHQW TXDOLW\*ROI &ORWKHVDQG HTXLSPHQW$%& &REUD$PS'ULYHU *ROI1H[WGD\ GHOLYHU\WRR 7R8UO )URP8UO 3DJH7LWOH KWWSZZZJROIFRXN KWWSZZZDEFJROIFRXN KWWSZZZEDOOEUHOODFRPWDJNLQJFREUDEHHU KWWSZZZIUXJDOOHUIRUXPFRXNKHDOWKEHDXW\IDVKLRQ YRXFKHUFRGHVFRXSRQVNXUWJHLJHUIUHHGHOLYHU\ FRGHD KWWSZZZSHUFHSWLRQV\VWHPFRPDVSQHWSURJUDPPLQJ GHYHORSPHQWKWPO .LQJ&REUD%HHU_0$67(5*2/) ,1)250$7,21$1'7,36 .XUW*HLJHUIUHHGHOLYHU\FRGH $VSQHWZHEVLWHGHYHORSPHQW_$VSQHW DSSOLFDWLRQGHYHORSPHQW KWWSZZZJROIFRXN KWWSZZZVKRSVDIHFRXNVKRSJROIFRXN *ROIFRXN5HYLHZVRIZZZJROIFRXN RQOLQHVKRS6KRS6DIH KWWSZZZJROIFRXN KWWSZZZMGHVLJQXNFRXNHFRPPHUFHZHEGHVLJQ SRUWIROLRSKS 0DJHQWR'HYHORSHUDQG(FRPPHUFH:HE 'HVLJQ3RUWIROLRIURP-'HVLJQ >,0$*(@ KWWSZZZDEFJROIFRXN KWWSZZZJROIFRXN KWWSZZZJROIMXQN\VFRP KWWSZZZIUXJDOOHUIRUXPFRXNKHDOWKEHDXW\IDVKLRQ KWWSZZZJROIVKRWFRXN RIIHUVEDUJDLQVVDOHVFRFRURVHVDOHVDYHD &RFRURVHVDOHVDYH *ROI6KRWIRU*ROI1HZV KWWSZZZJROIFRXNEDOOVWHHVKWPO KWWSZZZJROIVKRWFRXN *ROI6KRWIRU*ROI1HZV KWWSZZZJROIFRXNEDOOVWHHVSULQWHGJROIEDOOVKWPO KWWSZZZJROIVKRWFRXN *ROI6KRWIRU*ROI1HZV KWWSZZZJROIFRXNUDQJHRIJROIFOXEVKWPO KWWSKDXVWHFKQLNFRUEXVLHUKDXVFRPFJL ELQZHEORJBEDVLFLQGH[SKS"S ³&RUEXVLHU:LVVHQVZHUWHV´ª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±$%HJLQQHU*XLGH KWWSZZZJROIFRXN KWWSJROIMXQN\VFRP >,0$*(@ KWWSZZZJROIFRXN KWWSZZZSHUFHSWLRQV\VWHPFRPHFRPPHUFH GHYHORSPHQWVKRSSLQJFDUWGHYHORSPHQWSRUWIROLRKWPO (&RPPHUFH'HYHORSPHQW6KRSSLQJ&DUW 'HYHORSPHQW3RUWIROLR KWWSZZZWHOHFDEOHHVSHUVRQDOHVDOEDWURVJROIKWP KWWSZZZIUXJDOOHUIRUXPFRXNKRPHJDUGHQYRXFKHU KWWSZZZEXVLQHVVFRPPXQLW\FRPVSRUWVUHDVRQV FRGHVFRXSRQVKDELWDWGLVFRXQWYRXFKHUFRGH ZK\ODGLHV(JROIFRXOGEHWKHSHUIHFWIHPDOH D KREE\ &LEHU*LMyQ*2/) KWWSZZZJROIFRXN KWWSZZZJROIFRXN KWWSZZZJROIFRXN KWWSZZZDEFJROIFRXN KWWSZZZJROIFRXN KWWSZZZJROIFRXNFREUDGULYHUSKWPO KWWSFOLFNDUWLFOHVQHWPDNLQJWKHPRVWRI\RXU JROILQJWULS 5HDVRQV:K\/DGLHV¶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¶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¶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¶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¶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µRWKHUWUDYHO DUUDQJHPHQWV¶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