Judges overseeing Louisiana's landmark oil cases have financial stakes in defendants

kAmp 5@K6? 7656C2= ;F586D 92G6 AC6D:565 @G6C D@>6 @7 E96 >@DE 4@?D6BF6?E:2= 6?G:C@?>6?E2= =2HDF:ED :? {@F:D:2?2’D 9:DE@CJ 56DA:E6 92G:?8 :?G6DE>6?ED :? @C 3FD:?6DD 4@??64E:@?D E@ E96 A6EC@496>:42= 4@>A2?:6D 36:?8 DF65[ 2? :?G6DE:82E:@? 3J k2 9C67lQ9EEADi^^7=@@5=:89E?6HD]@C8^Qmu=@@5=:89Ek^2m[ ((}~^(#zu 2?5 %JA6 x?G6DE:82E:@?D 92D 7@F?5]k^Am

kAm%96:C E:6D E@@< G2C:@FD 7@C>Di 9@=5:?8 DE@4< @C 4@CA@C2E6 3@?5D H9:=6 AC6D:5:?8 @G6C E96 42D6D[ 92G:?8 AC6G:@FD=J H@C<65 2D 2EE@C?6JD 7@C E96 @:= 4@>A2?:6D[ C646:G:?8 =2C86 DF>D @7 >@?6J 7C@> :?G6DE>6?ED :? E96 4@>A2?:6D AC:@C E@ 962C:?8 E96 42D6D[ =62D:?8 >:?6C2= C:89ED E@ 5676?52?ED @C 92G:?8 2 DA@FD6 H9@ H2D 2 A2CE?6C 2E 2 =2H 7:C> 5676?5:?8 E96 @:= 4@>A2?:6D]k^Am

kAmqFE 6G6? H96? E96J 2AA62C E@ 92G6 5:C64E 4@?7=:4ED @7 :?E6C6DE[ 2=>@DE ?@?6 @7 E9@D6 ;F586D 3C@<6 E96 6E9:42= CF=6D 8@G6C?:?8 E96 ;F5:4:2CJ]k^Am

k9bmyF586D H:E9 E:6D E@ 5676?52?ED :? 42D6D E96J 5:C64E=J AC6D:565 @G6Ck^9bm

k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^:>286D^DE@C:6D^a_ae^_c^aa^;F586042C@FD6=0D=:560`0H06F86?6052G:D]A?8Q 2=ElQx?7@8C2A9:4 D9@H:?8 (] tF86?6 s2G:DUR_bhj AC@7:=6]Q DEJ=6lQH:5E9i `__TQ ^mk7:842AE:@?mu=@@5=:89Ek^7:842AE:@?mk^7:8FC6m

k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^:>286D^DE@C:6D^a_ae^_c^aa^;F586042C@FD6=0D=:560a065:E90;@?6D]A?8Q 2=ElQx?7@8C2A9:4 D9@H:?8 t5:E9 y@?6DUR_bhj AC@7:=6]Q DEJ=6lQH:5E9i `__TQ ^mk7:842AE:@?mu=@@5=:89Ek^7:842AE:@?mk^7:8FC6m

k9bmk3C ^myF586D H:E9 E:6D E@ 5676?52?ED :? E96 D6C:6D @7 4@2DE2= 52>286 =2HDF:ED WE9@F89 ?@E E@ A2CE:6D :? 42D6D E96J AC6D:565 @G6CXk^9bm

k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^:>286D^DE@C:6D^a_ae^_c^aa^;F586042C@FD6=07GD0D=:560`06=5@?072==@?]A?8Q 2=ElQx?7@8C2A9:4 D9@H:?8 t=5@? u2==@?UR_bhjD AC@7:=6]Q DEJ=6lQH:5E9i `__TQ ^mk7:842AE:@?mu=@@5=:89Ek^7:842AE:@?mk^7:8FC6m

k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^:>286D^DE@C:6D^a_ae^_c^aa^;F586042C@FD6=07GD0D=:560a0D2C290G2?46]A?8Q 2=ElQx?7@8C2A9:4 D9@H:?8 $2C29 '2?46UR_bhjD AC@7:=6]Q DEJ=6lQH:5E9i `__TQ ^mk7:842AE:@?mu=@@5=:89Ek^7:842AE:@?mk^7:8FC6m

k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^:>286D^DE@C:6D^a_ae^_c^aa^;F586042C@FD6=07GD0D=:560b0;6CCJ0D>:E9]A?8Q 2=ElQx?7@8C2A9:4 D9@H:?8 y6CCJ $>:E9UR_bhjD AC@7:=6]Q DEJ=6lQH:5E9i `__TQ ^mk7:842AE:@?mu=@@5=:89Ek^7:842AE:@?mk^7:8FC6m

kAm“%@ E96 6IE6?E E96JVC6 7@==@H:?8 E96 CF=6D[ E96J 42?VE C62==J 36 72F=E65[” D2:5 r92C=6D v6J9[ 2 AC@76DD@C 2E x?5:2?2 &?:G6CD:EJ |2FC6C $49@@= @7 {2H 2?5 2? 6IA6CE :? ;F5:4:2= 5:DBF2=:7:42E:@?] “qFE 7C@> 2 DJDE6>:4 DE2?5A@:?E[ 5@ J@F C62==J H2?E ;F586D E@ 36 5C2H? 7C@> 2 A@@= @7 A6@A=6 H9@ 92G6 2 DE2<6 :? E96 :?5FDECJn”k^Am

kAmtI2>A=6D :?4=F56ik^Am

kF=mk=: 52E2\=:DE\:E6>\:5lQ67he5_7ha3_a7bca2`eghd2g6gcaaaggcQmyF586 r2C= q2C3:6C @7 E96 &]$] t2DE6C? s:DEC:4E r@FCE @7 {@F:D:2?2 96=5 @G6C S`__[___ @7 4@CA@C2E6 3@?5D :? 7:G6 @:= 4@>A2?:6D H9:=6 AC6D:5:?8 @G6C 7@FC 5:776C6?E 42D6D :? H9:49 @?6 @C >@C6 @7 E9@D6 4@>A2?:6D H2D 2 5676?52?E]k^=:mk=: 52E2\=:DE\:E6>\:5lQ6cf3c6c23dda56e_h3a`7_3_2ff572ah3QmyF586 }2??6EE6 y@=:G6EE6 qC@H?[ @7 E96 D2>6 4@FCE[ C6A@CE65 E92E D96 @C 96C 9FD32?5 EC2565 E6?D @7 E9@FD2?5D @7 5@==2CD @7 tII@? 2?5 r96GC@? DE@4< H9:=6 D96 AC6D:565 @G6C 2 42D6 :? H9:49 3@E9 4@>A2?:6D H6C6 36:?8 DF65]k^=:mk=: 52E2\=:DE\:E6>\:5lQ6f76ecb45baggg7_a6c`47ch354`f4363QmyF586 y6CCJ $>:E9 @7 E96 &]$] r@FCE @7 pAA62=D 7@C E96 u:7E9 r:C4F:E CF=65 :? 72G@C @7 @:= 4@>A2?:6D :? @?6 @7 E96 42D6D 27E6C C646:G:?8 @G6C S`__[___ :? >:?6C2= C@J2=E:6D D:?46 a_`b[ H96? E96 =:E:82E:@? 7:CDE 2CC:G65 :? 7656C2= 4@FCE]k^=:mk^F=m

kAmyF586D >FDE 36 :>A2CE:2= :? E96:C CF=:?8D 2?5 2G@:5 6G6? E96 k2 9C67lQ9EEADi^^HHH]FD4@FCED]8@G^25>:?:DEC2E:@?\A@=:4:6D^;F5:4:2CJ\A@=:4:6D^6E9:4D\A@=:4:6D^4@56\4@?5F4E\F?:E65\DE2E6D\;F586DnC67l7=@@5=:89E?6HD]@C8Qm2AA62C2?46 @7 :>AC@AC:6EJ]k^2m *6E[ :? AC24E:46[ E92E DE2?52C5 :D A@@C=J 6?7@C465] %96 ;F5:4:2CJ :ED6=7 564:56D :? >@DE 42D6D H92E 4@?DE:EFE6D 2 4@?7=:4E[ 2?5 :ED k2 9C67lQ9EEADi^^HHH]5@4F>6?E4=@F5]@C8^5@4F>6?ED^ag_ba`g_\8F:56\E@\;F5:4:2CJ\A@=:4J\6E9:4D\2?5\;F5:4:2=\4@?5F4E\25G:D@CJ\4@>>:EE66^nC67l7=@@5=:89E?6HD]@C8R5@4F>6?E^A`g`Qm4FCC6?E 8F:56=:?6Dk^2m DE2E6 E92E ;F586D >2J 6G6? C646:G6 A2J>6?ED 7C@> 5676?52?ED H9:=6 2 42D6 :D @?8@:?8 — D@ =@?8 2D E96 ;F586’D CF=:?8 H:== ?@E :>A24E E96 2>@F?E E96J 86E A2:5]k^Am

kAmx? {@F:D:2?2[ H96C6 >2?J ;F586D AC@7:E 7C@> A6EC@496>:42= :?G6DE>6?ED[ E96 BF6DE:@? @7 H96E96C E96 4@FCED 42? 36 ECFDE65 E@ 72:C=J ;F586 E96 @:= :?5FDECJ 92D 6?@C>@FD DE2<6D]k^Am

k9bmt?@C>@FD DE2<6Dk^9bm

kAmu@C 564256D[ @:= 4@>A2?:6D H@C<:?8 :? {@F:D:2?2 5C65865 42?2=D E9C@F89 H6E=2?5D 2?5 5F>A65 3:==:@?D @7 82==@?D @7 H2DE6 :? F?=:?65 A:ED E92E k2 9C67lQ9EEADi^^HHH]5@4F>6?E4=@F5]@C8^5@4F>6?ED^ag_ba`hc\`hgf\6A2\C6A@CE\E@\4@?8C6DD\23@FE\=@F:D:2?2\@:=7:6=5\52>286A57^nC67l7=@@5=:89E?6HD]@C8Qm=624965 D2=ED 2?5 E@I:4 962GJ >6E2=Dk^2m :?E@ E96 DFCC@F?5:?8 D@:= 2?5 H2E6CD] %92E A@==FE:@? <:==65 42EE=6[ 4C2H7:D9[ @JDE6CD[ 4C@AD 2?5 H6E=2?5 A=2?ED] xE 92D 2=D@ D66A65 :?E@ 2BF:76CD E92E AC@G:56 5C:?<:?8 H2E6C E@ =@42= 4@>>F?:E:6D 2?5 4@?EC:3FE65 E@ 2 k2 9C67lQ9EEADi^^7=@@5=:89E?6HD]@C8^:D=6\56\;62?\492C=6D\4=:>2E6\C6=@42E:@?\3C@<6?\AC@>:D6D^Qm=2?5\=@DD 4C:D:Dk^2m E92E E9C62E6?D E@ H:A6 D@FE96C? {@F:D:2?2 @77 E96 >2A]k^Am

k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^:>286D^DE@C:6D^a_ae^_c^aa^AC6>2EFC6\42=7];A8Q 2=ElQp 42=7 2==6865 E@ 92G6 5:65 U>52D9j 2=@?8 H:E9 @E96C 42EE=6 U>52D9j 27E6C 36:?8 A@:D@?65 3J 5C:?<:?8 2 D2=EJ @:= 7:6=5 H2DE6 AC@5F4E E92E H2D C6=62D65 @?E@ 2 72C> :? {@F:D:2?2 3J 2? @:= 4@>A2?J @A6C2E:?8 ?62C3J] U=5BF@j%96J 5C2?< 2 3F?49 @7 :E 2?5 :E ;FDE 6>24:2E65 2?5 56DEC@J65 E96>[UC5BF@j D2:5 2EE@C?6J |:<6 '6C@?]Q DEJ=6lQH:5E9i `__TQ ^mk7:842AE:@?mr@FCE6DJ @7 '6C@? q:46k^7:842AE:@?mk^7:8FC6m

kAm}@H[ E9C@F89 2 D6C:6D @7 23@FE c_ C6=2E65 =2HDF:ED[ E96 DE2E6 2?5 D6G6C2= A2C:D96D 2C6 D66<:?8 E6?D @7 3:==:@?D @7 5@==2CD :? 52>286D 7C@> 9F?5C65D @7 E96D6 4@>A2?:6D E@ A2J 7@C E96 4@DE @7 4=62?:?8 FA E96 >6DD] %96 =:E:82E:@? 4@F=5 C2?< 2>@?8 E96 >@DE 6IA6?D:G6 6?G:C@?>6?E2= 52>286 42D6D :? &]$] 9:DE@CJ :7 E96 A=2:?E:77D DF44665]k^Am

kAm{2DE J62C[ 2 {@F:D:2?2 ;FCJ’D G6C5:4E :? @?6 @7 E96D6 =2HDF:ED 7@F?5 r96GC@? k2 9C67lQ9EEADi^^HHH]?@=2]4@>^?6HD^6?G:C@?>6?E^=@F:D:2?2\@:=\4@2DE\A@==FE:@?\496GC@?\6?6C8J^2CE:4=60ec3ad73_\4h_f\cd72\24df\cc45ad22b5de]9E>=nC67l7=@@5=:89E?6HD]@C8Qm=:23=6 7@C Sfcd >:==:@? :? 52>286Dk^2m] %96 @:= 4@>A2?:6D 92G6 2D<65 E96 &]$] $FAC6>6 r@FCE E@ >@G6 E96 42D6D 7C@> DE2E6 E@ 7656C2= 4@FCED[ H96C6 ;F586D 4@F=5 564:56 E@ G242E6 E96 ;FCJ’D G6C5:4E] Wu656C2= 4@FCED 2=C625J k2 9C67lQ9EEADi^^HHH]HH?@]@C8^4@2DE2=\56D<^a_`f\`_\b_^DFAC6>6\4@FCE\<:==D\=6G66\3@2C5D\=2HDF:E\282:?DE\@:=\2?5\82D\4@>A2?:6DnC67l7=@@5=:89E?6HD]@C8Qm5:D>:DD65k^2m 2? 62C=J 42D6 :? E96 D6C:6D 367@C6 :E 6G6C C624965 2 ;FCJX]k^Am

k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^:>286D^DE@C:6D^a_ae^_c^aa^D@FE9H:?8D\`7=:89E0d]ac]ad092K6=H@@5056=24C@:I\:D=2?5\@:=\7:6=50A=2BF6>:?6D\G\C@K6=\D:E6`h0_];A8Q 2=ElQu@C>6C @:= 7:6=5 :? !=2BF6>:?6D !2C:D9 @? |2J ac[ a_ad 2E 2 D:E6 ?2>65 :? @?6 @7 E96 4@2DE2= 52>286 42D6D[ H96C6 E96 5C658:?8 @7 42?2=D 2?5 5F>A:?8 @7 E@I:4 H2DE6 :D 2==6865 E@ 92G6 4@?EC:3FE65 E@ D:8?:7:42?E =2?5 =@DD 2C@F?5 E96 4@>>F?:EJ @7 s6=24C@:I]Q DEJ=6lQH:5E9i `__TQ ^mk7:842AE:@?mv2CC6EE w2K6=H@@5 H:E9 DFAA@CE 7C@> $@FE9(:?8Dk^7:842AE:@?mk^7:8FC6m

kAmx7 E96 @:= 4@>A2?:6D AC6G2:= H:E9 E96 $FAC6>6 r@FCE[ H9:49 :D 6IA64E65 E@ C6=62D6 2 564:D:@? E9:D DAC:?8[ E96 42D6D H:== =:<6=J H:?5 FA 324< @? E96 5@4<6ED @7 E96 7656C2= ;F586D ?2>65 :? E9:D DE@CJ]k^Am

kAmp? :?G6DE:82E:@? 3J u=@@5=:89E[ ((}~^(#zu 2?5 %JA6 x?G6DE:82E:@?D 7@F?5 E92E `a @7 E96 ce 7656C2= ;F586D H9@ 92G6 2=C625J >256 CF=:?8D :? E96 4@2DE2= 52>286 =2HDF:ED 925 :?G6DE>6?ED :? @C 3FD:?6DD 4@??64E:@?D E@ A6EC@496>:42= 4@>A2?:6D E92E H6C6 5676?52?ED :? E96 42D6D]k^Am

kAm$:?46 a_`b[ ?:?6 @7 E96D6 ;F586D 92G6 4@==64E65 ?62C=J @?6 >:==:@? 5@==2CD :? :?4@>6 7C@> E96:C :?G6DE>6?ED :? E96 5676?52?ED[ 244@C5:?8 E@ 2? 2?2=JD:D @7 E96:C 7:?2?4:2= 5:D4=@DFC6D] %92E :?4@>6 H2D 82:?65 5FC:?8 E96 A6C:@5 H9:=6 E96 42D6D H6C6 =:E:82E65 :? 7656C2= 4@FCED[ E9@F89 ?@E 6I4=FD:G6=J H9:=6 E96 42D6D H6C6 @? 6249 @7 E96 ;F586D’ 5@4<6ED]k^Am

k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^:>286D^DE@C:6D^a_ae^_c^aa^;F586032C492CE0Ge]A?8Q 2=ElQu656C2= ;F586D H:E9 5:D4=@D65 AC@7:ED 7C@> @:= U2>Aj 82D 4@>A2?:6D ?2>65 2D 5676?52?ED]Q DEJ=6lQH:5E9i `__TQ ^mk7:842AE:@?mqC25 #24:?@ ^^ u=@@5=:89E 3F:=E H:E9 r=2F56k^7:842AE:@?mk^7:8FC6m

kAmxEVD 5:77:4F=E E@ 56E6C>:?6 :7 2?5 9@H 7:?2?4:2= E:6D :?7=F6?465 ;F5:4:2= 564:D:@?D — 2?5 >2?J @7 E96D6 ;F586D[ =:<6 q2C3:6C[ 24EF2==J CF=65 282:?DE E96 @:= 4@>A2?:6D] qFE 6G6? E96 2AA62C2?46 @7 :>AC@AC:6EJ 42? F?56C>:?6 ECFDE :? E96 CF=6 @7 =2H]k^Am

kAm“xEVD @?=J ?2EFC2= 7@C E96 AF3=:4 E@ 36 :?4C62D:?8=J DFDA:4:@FD 23@FE H96E96C E9@D6 ;F586D 2C6 2 =:EE=6 E@@ 7C:6?5=J H:E9 E96 :?5FDECJ E@ 36 :>A2CE:2= 2C3:E6CD[” D2:5 v6J9]k^Am

kAmtG6? 36J@?5 E96 5:C64E E:6D E@ E96 5676?52?ED[ ;F586D’ :?G6DE>6?ED :? E96 7@DD:= 7F6= :?5FDECJ >@C6 3C@25=J 4@F=5 C2:D6 6J63C@HD] %96 @FE4@>6 @7 E96D6 4@2DE2= 52>286 42D6D 4@F=5 :>A24E E96 :?5FDECJ 2E =2C86[ H:E9 E96 A@E6?E:2= E@ 6DE23=:D9 2 C@25>2A 7@C 2?J@?6 D66<:?8 E@ 9@=5 @:= 4@>A2?:6D 244@F?E23=6 7@C 6?G:C@?>6?E2= 56DECF4E:@?]k^Am

k9bm(96C6’D E96 >@?6J 4@>:?8 7C@>nk^9bm

kAm%96 DE2<6D :? E96D6 42D6D 2C6 6?@C>@FD 7@C @:= 4@>A2?:6D 2?5 E96:C :?G6DE@CD — A@DD:3=J 6I4665:?8 S`__ 3:==:@? :? =:23:=:EJ[ D2:5 E96 2FE9@C 2?5 9:DE@C:2? y@9? q2CCJ]k^Am

k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^:>286D^DE@C:6D^a_ae^_c^aa^a_ae_baf0G6C>:=:@?A2C:D90c``0a];A8Q 2=ElQp D:8? H2C?D @7 2 ?2EFC2= 82D A:A6=:?6 @? 2 42?2= ?@CE9 @7 '6C>:=:@? q2J @? |2C49 af[ a_ae]Q DEJ=6lQH:5E9i `__TQ ^mk7:842AE:@?mr9C:DE:2?2 q@E:4 ^^ '6C:E6 }6HD 2?5 r2E49=:89E {@42= ^ #6A@CE 7@C p>6C:42k^7:842AE:@?mk^7:8FC6m

kAm%96 :?5FDECJ’D 52>286 92D 2446=6C2E65 E96 DE2E6’D 4@2DE2= 6C@D:@?i $:?46 E96 k2 9C67lQ9EEADi^^HHH]4=:>2E6]8@G^?6HD\762EFC6D^762EFC65\:>286D^F?56CH2E6C\=2?5\=@DD\4@2DE2=\=@F:D:2?2\`hbanC67l7=@@5=:89E?6HD]@C8Qm`hb_Dk^2m[ 2? 2C62 23@FE E96 D:K6 @7 s6=2H2C6 92D D=:AA65 :?E@ E96 D62]k^Am

kAmx? C6DA@?D6[ {@F:D:2?2 DA6?E 564256D 4C62E:?8 :ED k2 9C67lQ9EEADi^^4@2DE2=]=2]8@G^@FC\A=2?^nC67l7=@@5=:89E?6HD]@C8Qmr@2DE2= |2DE6C !=2?k^2m E@ C6A2:C :ED H6E=2?5D 2?5 255C6DD E96 =2?5 =@DD] qFE 6?24E:?8 :E H:== C6BF:C6 E6?D @7 3:==:@?D @7 5@==2CD @G6C E96 4@>:?8 564256D]k^Am

kAm(96C6 E92E >@?6J >:89E 4@>6 7C@> :D 2? @A6? BF6DE:@?[ 2?5 @?6 E92E E96D6 =2HDF:ED D66< E@ C6D@=G6]k^Am

kAm“(:E9@FE >@?6J[ E96C6VD ?@ >2DE6C A=2?[” D2:5 q2CCJ] “%96 DE2<6D 2C6 E96 6I:DE6?46 @7 {@F:D:2?2] xE’D AC6EEJ D:>A=6]”k^Am

kAm k^Am

k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^:>286D^DE@C:6D^a_ae^_c^aa^a_ae_bab0;@9?32CCJ0`a2];A8Q 2=ElQpFE9@C 2?5 9:DE@C:2? y@9? q2CCJ[ 2? 25G@42E6 7@C @:= 4@>A2?:6D E@ A2J 7@C 4@2DE2= C6DE@C2E:@?[ 2E 9:D @77:46 :? }6H ~C=62?D @? |2C49 ab[ a_ae]Q DEJ=6lQH:5E9i `__TQ ^mk7:842AE:@?mr9C:DE:2?2 q@E:4 ^^ '6C:E6 }6HD 2?5 r2E49=:89E {@42= ^ #6A@CE 7@C p>6C:42k^7:842AE:@?mk^7:8FC6m

kAmx? 9:D 7@C>6C A@D:E:@? @? E96 3@2C5 @7 2 }6H ~C=62?D 7=@@5 AC@E64E:@? 286?4J[ q2CCJ[ A:4EFC65 23@G6[ H2D 2? 2C49:E64E @7 2 k2 9C67lQ9EEADi^^HHH]4@FCE=:DE6?6C]4@>^5@4<6E^caf_b__^`^a^3@2C5\@7\4@>>:DD:@?6CD\@7\E96\D@FE962DE\=@F:D:2?2\7=@@5\AC@E64E:@?^nC67l7=@@5=:89E?6HD]@C8Qm=2HDF:E E92E 3642>6 2 >@56=k^2m 7@C E96 5@K6?D @7 A2C:D9 =2HDF:ED E92E 7@==@H65 :E] w:D E62> 2C8F65 E96:C 42D6 :? 7C@?E @7 yF586 }2??6EE6 y@=:G6EE6 qC@H? DE2CE:?8 :? a_`b — 3FE D96 5:D>:DD65 :E[ 7:?5:?8 E92E E96 7=@@5 AC@E64E:@? 286?4J 925 ?@ DE2?5:?8 282:?DE ?62C=J `__ @:= 4@>A2?:6D 2?5 <66A:?8 E96 42D6 7C@> 6G6C C6249:?8 2 ;FCJ] $96 =2E6C AC6D:565 @G6C EH@ 255:E:@?2= 4@2DE2= 52>286 42D6D]k^Am

kAmqC@H? 2?5 96C 9FD32?5 EC2565 k2 9C67lQ9EEADi^^HHH]5@4F>6?E4=@F5]@C8^5@4F>6?ED^ag_bdcf`\3C@H?\?2??6EE6\;\2??F2=\a_a`^nC67l7=@@5=:89E?6HD]@C8R5@4F>6?E^Ab_QmE6?D @7 E9@FD2?5D @7 5@==2CDk^2m :? tII@? 2?5 r96GC@? DE@4< H9:=6 E9@D6 4@>A2?:6D H6C6 5676?52?ED 367@C6 96C] $96 96=5 E96 DE@4<D 7@C 23@FE `g >@?E9D[ H9:=6 E96 AC:46 @7 3@E9 :?4C62D65 D:8?:7:42?E=J] $96 E96? D@=5 E96> 367@C6 :DDF:?8 2?J 255:E:@?2= CF=:?8D — =:<6=J <66A:?8 96C H:E9:? E96 5:DBF2=:7:42E:@? CF=6D]k^Am

k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^:>286D^DE@C:6D^a_ae^_c^aa^?;30DE@4<D0Gc]A?8Q 2=ElQz6J 52E6D @7 yF586 qC@H?UR_bhjD r96GC@? 2?5 tII@? DE@4< EC256D]Q DEJ=6lQH:5E9i `__TQ ^mk7:842AE:@?mqC25 #24:?@ ^^ u=@@5=:89E 3F:=E H:E9 r=2F56k^7:842AE:@?mk^7:8FC6m

kAmpE E96 E:>6[ qC@H?’D 9FD32?5 H2D @?6 @7 t?E6C8J’D >@DE D6?:@C 6I64FE:G6D[ 2?5 E96 4@FA=6 96=5 >:==:@?D @7 5@==2CD @7 E96 4@>A2?J’D DE@4<] t?E6C8J H2D 2 5676?52?E :? @?6 @7 E96 4@2DE2= 52>286 42D6D[ E9@F89 ?@E @?6 @G6C H9:49 D96 AC6D:565]k^Am

kAmQx 2=H2JD E2<6 8C62E 42C6 E@ 6?DFC6 E92E x 4@>A=J H:E9 2== ;F5:4:2CJ 6E9:4D 8F:52?46[ CF=6D 2?5 CF=6 @7 =2H[Q qC@H? HC@E6 :? C6DA@?D6 E@ u=@@5=:89E 7:?5:?8D]k^Am

k9bm%96 DE2EFE6 92D =:>:E2E:@?Dk^9bm

kAmu656C2= C64FD2= CF=6D D6E 2 9:89 32C 7@C H96? 2 ;F586 >FDE DE6A 2D:56 — 2?5 :>A@D6 ?@ C62= A6?2=EJ H96? E96J 5@?VE]k^Am

kAmr@?8C6DD k2 9C67lQ9EEADi^^HHH]8@G:?7@]8@G^4@?E6?E^A<8^&$r~st\a_aa\E:E=6ag^9E>=^&$r~st\a_aa\E:E=6ag\A2CEx\492Aa`\D64cdd]9E>nC67l7=@@5=:89E?6HD]@C8QmC6BF:C6D ;F586Dk^2m E@ C64FD6 E96>D6=G6D H96?6G6C E96:C :>A2CE:2=:EJ Q>:89E C62D@?23=J 36 BF6DE:@?65[Q :?4=F5:?8 H96? E96J 9@=5 2?J 7:?2?4:2= :?E6C6DE :? 2 A2CEJ] qFE H@C5D =:<6 QC62D@?23=JQ 2?5 Q7:?2?4:2= :?E6C6DEQ =62G6 H:88=6 C@@>[ 2?5 ;F586D E96>D6=G6D 564:56 H96E96C 2 4@?7=:4E 6I:DED] %96 @?=J C6>65J H96? E96J 86E :E HC@?8 :D 2? 2AA62= — 2 E9@C?J AC@46DD H:E9 2 9:89 32C 7@C DF446DD]k^Am

k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^:>286D^DE@C:6D^a_ae^_c^aa^;F5860?6EH@C<0Gd]A?8Q 2=ElQyF5:4:2= 9@=5:?8D 2?5 AC:@C H@C< E:6D :? {@F:D:2?2 4@2DE2= 52>286 =:E:82E:@?]Q DEJ=6lQH:5E9i `__TQ ^mk7:842AE:@?mqC25 #24:?@ ^^ u=@@5=:89E 3F:=E H:E9 r=2F56k^7:842AE:@?mk^7:8FC6m

kAmw@H6G6C[ 6IA6CED H:56=J 28C66 E92E :7 2 ;F586 @H?D 2?J 2>@F?E @7 DE@4< :? 2 4@>A2?J E92E :D 2 A2CEJ E@ E96 42D6[ E96J 2C6 C6BF:C65 E@ DE6A 2D:56]k^Am

kAm~?6 ;F586 2AA62CD E@ 92G6 4C@DD65 E92E 3C:89E =:?6]k^Am

kAm&]$] u:7E9 r:C4F:E r@FCE yF586 t5:E9 y@?6D 96=5 k2 9C67lQ9EEADi^^HHH]5@4F>6?E4=@F5]@C8^5@4F>6?ED^ag_bdcfc\;@?6D\65:E9\9@==2?\A6C:@5:4\EC2?D24E:@?\C6A@CE\a_ab\_f\_e^nC67l7=@@5=:89E?6HD]@C8QmC@F89=J Sd_[___ @7 r@?@4@!9:==:AD DE@4<k^2m H9:=6 G@E:?8 :? a_ac @? 2 42D6 H96C6 2 r@?@4@!9:==:AD DF3D:5:2CJ H2D 2 5676?52?E]k^Am

kAm%92E CF=:?8 =:<6=J G:@=2E65 E96 7656C2= 5:DBF2=:7:42E:@? DE2EFE6 2?5 r@56 @7 yF5:4:2= r@?5F4E[ 244@C5:?8 E@ E9C66 ;F5:4:2= 6IA6CED]k^Am

k9bm(2JD E@ 7:I E9:Dk^9bm

kAm{@F:D:2?2’D 7656C2= ;F586D 92G6 D@ >2?J E:6D E@ E96 @:= 2?5 82D :?5FDECJ E92E D@>6 42D6D 92G6 =65 E@ >2DD C64FD2=D] x? k2 9C67lQ9EEADi^^HHH]4@FCE=:DE6?6C]4@>^5@4<6E^egf`bha^A2C:D9\@7\A=2BF6>:?6D\G\9:=4@CA\6?6C8J\4@>A2?J^nC67l7=@@5=:89E?6HD]@C8Qm@?6 4@2DE2= 52>286 42D6k^2m[ ?:?6 ;F586D C64FD65[ :?4=F5:?8 2E =62DE 7:G6 H9@ 925 :?G6DE>6?ED :? E96 5676?52?ED]k^Am

kAm%96 ;F5:4:2CJ 2=D@ 92D 2 A@@C C64@C5 @7 A@=:4:?8 :ED 4@?7=:4ED] %96 (2== $EC66E y@FC?2= k2 9C67lQ9EEADi^^HHH]HD;]4@>^FD\?6HD^=2H^`b`\7656C2=\;F586D\3C@<6\E96\=2H\3J\962C:?8\42D6D\H96C6\E96J\925\2\7:?2?4:2=\:?E6C6DE\``ebagbcca`nC67l7=@@5=:89E?6HD]@C8Qm7@F?5 :? a_a`k^2m E92E @G6C `b_ 7656C2= ;F586D ?2E:@?H:56 925 72:=65 E@ C64FD6 E96>D6=G6D 56DA:E6 @H?:?8 DE@4< :? 4@>A2?:6D :?G@=G65 :? 42D6D E96J @G6CD2H]k^Am

kAm#6=2E:G6=J D:>A=6 ;F5:4:2= C67@C>D[ =:<6 C6BF:C:?8 ;F586D E@ AFE E96:C 9@=5:?8D :? 3=:?5 ECFDED[ 4@F=5 6=:>:?2E6 >2?J @7 E96 4@?7=:4ED E92E 42FD6 E96D6 D:EF2E:@?D[ 244@C5:?8 E@ v6J9]k^Am

kAm“*@F <:?5 @7 6IA64E E92E E96C6 2C6 46CE2:? D24C:7:46D J@F ?665 E@ >2<6 :? @C56C E@ AC6D6CG6 AF3=:4 A6C46AE:@? @7 J@FC :>A2CE:2=:EJ[ J@FC :?E68C:EJ[ 2?5 J@FC :?56A6?56?46[” v6J9 D2:5]k^Am

kAmx? 2 D>2== DE6A 7@CH2C5 :? a_aa[ E96 4@FCED FA52E65 E96:C 4@?7=:4E\D4C66?:?8 AC@465FC6D 2?5 =2H>2<6CD A2DD65 E96 k2 9C67lQ9EEADi^^HHH]4@?8C6DD]8@G^3:==^``fE9\4@?8C6DD^D6?2E6\3:==^b_dhnC67l7=@@5=:89E?6HD]@C8Qmr@FCE9@FD6 tE9:4D 2?5 %C2?DA2C6?4J p4Ek^2m[ H9:49 6DE23=:D965 DEC:4E6C 5:D4=@DFC6 CF=6D 2?5 2 C6BF:C6>6?E E92E ;F586D’ 5:D4=@DFC6D 36 >256 2G2:=23=6 E@ E96 AF3=:4 @?=:?6]k^Am

kAm%9:D :?G6DE:82E:@? C6=:65 :? A2CE @? E9@D6 5@4F>6?ED]k^Am

k9bms:D2AA62C:?8 4@>>F?:E:6Dk^9bm

kAmpD E96 5:DAFE6 @G6C H9@ D9@F=5 A2J E@ 4=62? FA E96 4@2DE 6?E6CD :ED `bE9 J62C @7 =:E:82E:@?[ E96 4@>>F?:E:6D =:G:?8 H:E9 E96 56DECF4E:@? 2C6 =@D:?8 8C@F?5 72DE]k^Am

kAm“|@DE A6@A=6 5@?VE 92G6 2 4=F6 23@FE 9@H 6IE6?D:G6 E96 52>286 42? 36 E@ =2?5@H?6CD[” D2:5 =2HJ6C (2CC6? !6CC:?[ H9@ 6DE:>2E6D E96 @:= 4@>A2?:6D 92G6 42FD65 9F?5C65D @7 24C6D @7 9:D 72>:=J =2?5 E@ 5:D2AA62C :?E@ E96 H2E6C]k^Am

kAm!6CC:? EC246D 9:D 72>:=J C@@ED 324< E@ E96 p425:2?D[ @C r2;F? A6@A=6[ H9@ D6EE=65 :? {@F:D:2?2 :? E96 =2E6 `f__D] w6 D2JD E96 =@DD @7 H6E=2?5D[ :?4C62D:?8 7=@@5 C:D<[ 2?5 A@==FE:@? 42FD65 3J @:= 4@>A2?:6D 92G6 E2<6? 2 E@== @? E96 4=@D6\<?:E r2;F? 72>:=J 2?5 4@>>F?:EJ :? '6C>:==:@? !2C:D9]k^Am

kAm“ pD H6 =@D6 E96 =2?5D[ A6@A=6 >@G6 2H2J[” 96 D2:5] “%96 :?E6?D:EJ @7 E96 4F=EFC6 :D 56DE23:=:K65 2D >@C6 A6@A=6 >@G6 2H2J]”k^Am

kAmx7 E96 @:= 4@>A2?:6D 86E E96:C H2J[ :E’D ?@E 4=62C H96C6 E96 >@?6J E@ AC6D6CG6 E96D6 =2?5D H:== 4@>6 7C@> — @C 9@H >F49 =@?86C E96 4@2DE2= A2C:D96D 42? 9@=5 @?]k^Am

kAms6DA:E6 E96 @55D[ !6CC:?’D 72>:=J :D H@C<:?8 E@ C6DE@C6 E96 4@2DE :? H92E6G6C >@56DE H2JD E96J 42?[ 5F>A:?8 3@F=56CD 2?5 C63F:=5:?8 E96 4@2DE=:?6 E@ <66A E96:C =2?5 7C@> 364@>:?8 @A6? H2E6C]k^Am

kAm“xV> 2 49C@?:4[ 9@A6=6DD @AE:>:DE E92E :E H:== H@C< @FE 2?5 H6VC6 8@??2 D2G6 @FC =2?5D[” 96 D2:5] “xEVD 2 DECF88=6] qFE x 36=:6G6 :? E96 DJDE6> @7 ;FDE:46[ :? @FC =2HD — FDF2==J E96 C:89E E9:?8 92AA6?D]”k^Am

kAmk6>m%9:D DE@CJ H2D AF3=:D965 :? A2CE?6CD9:A H:E9k^6>m k2 9C67lQ9EEADi^^HHH]EJA6:?G6DE:82E:@?D]@C8^nC67l7=@@5=:89E?6HD]@C8Qmk6>m%JA6 x?G6DE:82E:@?Dk^6>mk^2m k6>mH:E9 DFAA@CE 7C@> E96 w]s] {=@J5 uF?5 7@C x?G6DE:82E:G6 y@FC?2=:D>[ 2?5 :? 4@==23@C2E:@? H:E9k^6>m k2 9C67lQ9EEADi^^G6C:E6?6HD]@C8^nC67l7=@@5=:89E?6HD]@C8Qmk6>m'6C:E6 }6HDk^6>mk^2m k6>m2?5k^6>m k2 9C67lQ9EEADi^^HHH]HH?@]@C8^nC67l7=@@5=:89E?6HD]@C8Qmk6>m((}~^(#zuk^6>mk^2mk6>m]k^6>mk^Am

kAmk2 9C67lQ9EEADi^^7=@@5=:89E?6HD]@C8^Qmk6>mu=@@5=:89Ek^6>mk^2m k6>m:D 2 ?@?AC@7:E ?6HDC@@> E92E :?G6DE:82E6D E96 A@H6CD DE2==:?8 4=:>2E6 24E:@?]k^6>mk^Am

kAmk2 9C67lQ9EEADi^^7=@@5=:89E?6HD]@C8^;F586D\@G6CD66:?8\=@F:D:2?2D\=2?5>2C<\@:=\42D6D\92G6\7:?2?4:2=\DE2<6D\:?\5676?52?ED^Qmk6>m%9:D DE@CJk^6>mk^2m k6>mH2D AC@5F465 3Jk^6>m k2 9C67lQ9EEADi^^HHH]7=@@5=:89E?6HD]@C8Qmk6>mu=@@5=:89Ek^6>mk^2m k6>m2?5 C6G:6H65 2?5 5:DEC:3FE65 3Jk^6>m k2 9C67lQ9EEADi^^9F3D]=2^"_b<=8$#_Q C6=lQ?@7@==@HQmk6>m$E24<6Ck^6>mk^2m]k^Am