Files
crop-chem-docs/corpus/epa_ppls/5905-598.md
T
justin a97107de46
Image rebuild (skip scrape) / build (push) Failing after 1h37m12s
docker: production image + Gitea Actions for monthly refresh
Dockerfile: self-contained image with corpus + Chroma + BM25 baked
in. Drawbar's compose pulls + runs without volume mounts. Built from
sources.json (labels schema), PRODUCT_NAME=crop_chem by default,
HYBRID_SEARCH=true (always-on for production quality). RERANK_URL +
OLLAMA_URL get set at compose time.

.gitea/workflows/refresh.yml: monthly cron (1st @ 06:00 UTC) does
full scrape → reindex → image push. Scrapes Bayer (~30 min) +
EPA PPLS row-crop filtered (~7h). Skips reindex+push if no corpus
diff. Tags pushed: :latest, :<sha12>, :corpus-<YYYY.MM.DD>.

.gitea/workflows/image-only.yml: on-demand or auto on code-only
pushes to main (paths: docs_mcp/, rag/, scrape/, requirements.txt,
Dockerfile, sources.json). Reindexes from committed corpus, builds
image, pushes. ~10 min vs ~9h full refresh.

.gitignore: corpus/ now COMMITTED (4,159 labels, 265 MB of .md +
sidecars). Lets image-only.yml rebuild indexes without re-scraping.
chroma/ + bm25/ still gitignored (regenerable binary indexes).

.dockerignore: drops venv, eval results, PLAN/README/CLAUDE.md,
deploy/, .git/ — keeps the image lean. corpus + chroma + bm25
explicitly NOT in dockerignore (those go INTO the image).

Co-Authored-By: Claude Opus 4.7 (1M context) <noreply@anthropic.com>
2026-05-24 12:32:41 -04:00

648 lines
41 KiB
Markdown
Raw Blame History

This file contains ambiguous Unicode characters
This file contains Unicode characters that might be confused with other characters. If you think that this is intentional, you can safely ignore this warning. Use the Escape button to reveal them.
# OMNI OIL 6
- EPA Reg No: **5905-598**
- Registrant: HELENA AGRI-ENTERPRISES, LLC, D/B/A HELENA CHEMICAL COMP
- Signal word: Caution
- Active ingredients: Mineral oil - includes paraffin oil from 063503 (98%)
- Label accepted: 2022-09-28
- Source PDF: https://www3.epa.gov/pesticides/chem_search/ppls/005905-00598-20220928.pdf
---
UNITED STATES ENVIRONMENTAL PROTECTION AGENCY
WASHINGTON, DC 20460
OFFICE OF CHEMICAL SAFETY
AND POLLUTION PREVENTION
September 28, 2022
Bill Washburn
Registration Manager
Helena Agri-Enterprises, LLC
225 Schilling Blvd., Suite 300
Collierville, TN 38017
Subject: Registration Review Label Mitigation for Aliphatic Solvents
Product Name: OMNI OIL 6
EPA Registration Number: 5905-598
Application Date: 5/18/2020
Decision Number: 563022
Dear Bill Washburn:
The Agency, in accordance with the Federal Insecticide, Fungicide and Rodenticide Act
(FIFRA), as amended, has completed reviewing all the information submitted with your
application to support the Registration Review of the above referenced product in connection
with the Aliphatic Solvents Interim Decision, and has concluded that your submission is
acceptable. The label referred to above, submitted in connection with registration under FIFRA,
as amended, is acceptable.
Should you wish to add/retain a reference to the companys website on your label, then please be
aware that the website becomes labeling under the Federal Insecticide Fungicide and Rodenticide
Act and is subject to review by the Agency. If the website is false or misleading, the product
would be misbranded and unlawful to sell or distribute under FIFRA section 12(a)(1)(E). 40
CFR 156.10(a)(5) list examples of statements EPA may consider false or misleading. In addition,
regardless of whether a website is referenced on your products label, claims made on the
website may not substantially differ from those claims approved through the registration process.
Therefore, should the Agency find or if it is brought to our attention that a website contains false
or misleading statements or claims substantially differing from the EPA approved registration,
the website will be referred to the EPAs Office of Enforcement and Compliance.
A stamped copy of your labeling is enclosed for your records. This labeling supersedes
all previously accepted labeling. You must submit one copy of the final printed labeling
before you release the product for shipment with the new labeling. In accordance with 40
CFR 152.130(c), you may distribute or sell this product under the previously approved
labeling for 12 months from the date of this letter. After 12 months, you may only
distribute or sell this product if it bears this new revised labeling or subsequently
approved labeling. “To distribute or sell” is defined under FIFRA section 2(gg) and its
implementing regulation at 40 CFR 152.3.
Page 2 of 2
EPA Reg. No. 5905-598
Decision No. 563022
If you have any questions about this letter, please contact Quinn Gavin by phone at 202-566-
2284, or via email at gavin.quinn@epa.gov.
Sincerely,
Linda Arrington, Branch Chief
Risk Management and Implementation Branch 4
Pesticide Re-Evaluation Division
Office of Pesticide Programs
Enclosure: Stamped label
)LOHQDPH2PQL2LO  &/1GRF 
201,2,/
,16(&7,&,'(0,7,&,'( /,48,'
$1$552:5$1*(683(5,25635$<2,/
$ & 7 , 9 (  , 1 * 5 ( ' , ( 1 7 
 0 L Q H U D O  2 L O
« « « « « « «
2 7 + ( 5  , 1 * 5 ( ' , ( 1 7 6 ««
 7 2 7 $ / «««««
6 X S H U L R U  3 H W U R O H X P  2 L O  0 L Q L P X P  8 Q V X O IRQDWHG5HVLGXH

& R Q W D L Q V  S H W U R O H X P  G L V W L O O D W H V  

127(7+,6352'8&7,6127,17(1'(')25*5((1+286(86(
.((32872)5($&+2)&+,/'5(1
&$87,21
6HHLQVLGH3DQHOIRU$GGLWLRQDO3UHFDXWLRQDU\6WDWHPHQWV
),567$,'
,)216.,1
25
&/27+,1*
x 7DNHRIIFRQWDPLQDWHGFORWKLQJ
x 5LQVHVNLQLPPHGLDWHO\ZLWKSOHQW\RIZDWHUIRUPLQXWHV
x &DOODSRLVRQFRQWUROFHQWHURUGRFWRUIRUWUHDWPHQWDGYLFH
,)
6:$//2:('
x &DOODSRLVRQFRQWUROFHQWHURUGRFWRULPPHGLDWHO\IRUWUHDWPHQWDGYLFH
x 'RQRWLQGXFHYRPLWLQJXQOHVVWROGWRGRVRE\WKHSRLVRQFRQWUROFHQWHURUGRFWRU
x 'RQRWJLYHDQ\OLTXLGWRDSHUVRQ
x 'RQRWJLYHDQ\WKLQJE\PRXWKWRDQXQFRQVFLRXVRUFRQYXOVLQJSHUVRQ
,),1+$/('x 0RYHSHUVRQWRIUHVKDLU
x ,ISHUVRQLVQRWEUHDWKLQJFDOORUDQDPEXODQFHWKHQJLYHDUWLILFLDOUHVSLUDWLRQSUHIHUDEO\
E\PRXWKWRPRXWKLISRVVLEOH
x &DOODSRLVRQFRQWUROFHQWHURUGRFWRUIRUIXUWKHUWUHDWPHQWDGYLFH
,),1(<(6x +ROGH\HRSHQDQGULQVHVORZO\DQGJHQWO\ZLWKZDWHU IRUPLQXWHV
x 5HPRYHFRQWDFWOHQVHVLISUHVHQWDIWHUWKHILUVWPLQXWHVWKHQFRQWLQXHULQVLQJH\H
x &DOODSRLVRQFRQWUROFHQWHURUGRFWRUIRUWUHDWPHQWDGYLFH
+DYHWKHSURGXFWFRQWDLQHUZLWK\RXZKHQFDOOLQJDSRLVRQFRQWUROFHQWHURUGRFWRURUZKHQJRLQJIRUWUHDWPHQW<RXDOVR
PD\FDOO&KHPWUHFDW
IRUHPHUJHQF\PHGLFDOWUHDWPHQWLQIRUPDWLRQ
127(723+<6,&,$17KLVSURGXFWFRQWDLQVSHWUROHXPGLVWLOODWHVDQGPD\SRVHDQDVSLUDWLRQSQHXPRQLDKD]DUG'R
QRWLQGXFHYRPLWLQJ
( 3 $  5 H J   1 R              $ '        
( 3 $  ( 6 7   1 2    1 ( 7  & 2 1 7 ( 1 7 6    


0$18)$&785(')25
+ ( / ( 1 $  $ * 5 ,  ( 1 7 ( 5 3 5 , 6 ( 6   / / &  
6&+,//,1*%28/(9$5'68,7(
&2//,(59,//(7(11(66((
Sep 28, 2022
5905-598

)LOHQDPH2PQL2LO  &/1GRF



35(&$87,21$5<67$7(0(176
+$=$5'672+80$16 '20(67,&$1,0$/6
&$87,21
$YRLGFRQWDFWZLWKVNLQRUFORWKLQJ:DVKWKRURXJKO\ZLWKVRDSDQGZDWHUDIWHUKDQGOLQJDQGEHIRUHHDWLQJGULQNLQJ
FKHZLQJJXPXVLQJWREDFFRRUXVLQJWKHWRLOHW:HDUORQJVOHHYHGVKLUWDQGORQJSDQWVVRFNVVKRHVDQGFKHPLFDO
UHVLVWDQWJORYHV3URORQJHGRUIUHTXHQWO\UHSHDWHGVNLQFRQWDFWPD\FDXVHDOOHUJLFUHDFWLRQVLQVRPHLQGLYLGXDOV

3(5621$/3527(&7,9((48,30(17 33( 

+DQGOHUVPXVWZHDU
x ORQJVOHHYHVKLUWORQJSDQWVDQG
x VKRHVSOXVVRFNV

6HH(1*,1((5,1*&21752/6IRUDGGLWLRQDOUHTXLUHPHQWV

)ROORZPDQXIDFWXUHU
VLQVWUXFWLRQVIRUFOHDQLQJPDLQWDLQLQJ33(,IQRVXFKLQVWUXFWLRQVIRUZDVKDEOHVH[LVWXVH
GHWHUJHQWDQGKRWZDWHU.HHSDQGZDVK33(VHSDUDWHO\IURPRWKHUODXQGU\

'LVFDUGFORWKLQJDQGRWKHUDEVRUEHQWPDWHULDOWKDWKDYHEHHQGUHQFKHGRUKHDYLO\FRQWDPLQDWHGZLWKWKHSURGXFW¶V
FRQFHQWUDWH'RQRWUHXVHWKHP

:KHQKDQGOHUVXVHFORVHGV\VWHPVHQFORVHGFDEVRUDLUFUDIWLQDPDQQHUWKDWPHHWVWKHUHTXLUHPHQWVOLVWHGLQWKH
:RUNHU3URWHFWLRQ6WDQGDUG :36 IRUDJULFXOWXUDOSHVWLFLGHV>&)5 G   @WKHKDQGOHU33(UHTXLUHPHQWV
PD\EHUHGXFHGRUPRGLILHGDVVSHFLILHGLQWKH:36

86(56$)(7<5(&200(1'$7,216
x 8VHUVVKRXOGZDVKKDQGVEHIRUHHDWLQJGULQNLQJFKHZLQJJXPXVLQJWREDFFRRUXVLQJWKHWRLOHW
x 8VHUVVKRXOGUHPRYHFORWKLQJ33(LPPHGLDWHO\LISHVWLFLGHJHWVLQVLGH7KHQZDVKWKRURXJKO\DQGSXWRQFOHDQ
FORWKLQJ
x 8VHUVVKRXOGUHPRYH33(LPPHGLDWHO\DIWHUKDQGOLQJWKLVSURGXFW:DVKWKHRXWVLGHRIJORYHVEHIRUHUHPRYLQJ
$VVRRQDVSRVVLEOHZDVKWKRURXJKO\DQGFKDQJHLQWRFOHDQFORWKLQJ

(1*,1((5,1*&21752/6
3LORWVPXVWXVHDQHQFORVHGFRFNSLWWKDWPHHWVWKHUHTXLUHPHQWVOLVWHGLQWKH:36IRUDJULFXOWXUDOSHVWLFLGHV>&)5
 G  @

(19,5210(17$/+$=$5'6
7KLVSURGXFWLVWR[LFWRDTXDWLFLQYHUWHEUDWHV'RQRWDSSO\GLUHFWO\WRZDWHURUWRDUHDVZKHUHVXUIDFHZDWHULVSUHVHQWRU
WRLQWHUWLGDODUHDVEHORZWKHPHDQKLJKZDWHUPDUN'RQRWFRQWDPLQDWHZDWHUZKHQGLVSRVLQJRIHTXLSPHQWZDVKZDWHURU
ULQVDWH'ULIWDQGUXQRIIPD\EHKD]DUGRXVWRDTXDWLFRUJDQLVPVLQZDWHUDGMDFHQWWRWUHDWHGDUHDV$YRLGGULIWRUUXQRII
LQWRVWRUPGUDLQVGUDLQDJHGLWFKHVRUVXUIDFHZDWHUV$SSO\LQJWKLVSURGXFWLQFDOPZHDWKHUZKHQUDLQLVQRWSUHGLFWHG
IRUWKHQH[WKRXUVZLOOKHOSWRPD[LPL]HWKHFKDQFHVWKDWZLQGRUUDLQZLOOQRWEORZRUZDVKSHVWLFLGHRIIWKHWUHDWPHQW
DUHD5LQVLQJDSSOLFDWLRQHTXLSPHQWRYHUWKHWUHDWHGDUHDZLOOKHOSDYRLGUXQRIIWRZDWHUERGLHVRUGUDLQDJHV\VWHPV

3+<6,&$/25&+(0,&$/+$=$5'6
'RQRWXVHSRXUVSLOORUVWRUHQHDUKHDWRURSHQIODPH

&+(0,*$7,21352+,%,7,21
'RQRWDSSO\WKLVSURGXFWWKURXJKDQ\W\SHRILUULJDWLRQV\VWHP

',5(&7,216)2586(
,WLVDYLRODWLRQRI)HGHUDO/DZWRXVHWKLVSURGXFWLQDPDQQHULQFRQVLVWHQWZLWKLWVODEHOLQJ

'RQRWDSSO\WKLVSURGXFWLQDZD\WKDWZLOOFRQWDFWZRUNHUVRURWKHUSHUVRQVHLWKHUGLUHFWO\RUWKURXJKGULIW2QO\SURWHFWHG
KDQGOHUVPD\EHLQWKHDUHDGXULQJDSSOLFDWLRQ)RUDQ\UHTXLUHPHQWVVSHFLILFWR\RXU6WDWHRU7ULEHFRQVXOWWKHDJHQF\
UHVSRQVLEOHIRUSHVWLFLGHUHJXODWLRQ



)LOHQDPH2PQL2LO  &/1GRF



$*5,&8/785$/86(5(48,5(0(176
8VHWKLVSURGXFWRQO\LQDFFRUGDQFHZLWKLWVODEHOLQJDQGZLWKWKH:RUNHU3URWHFWLRQ6WDQGDUG&)5SDUW7KLV
6WDQGDUGFRQWDLQVUHTXLUHPHQWVIRUWKHSURWHFWLRQRIDJULFXOWXUDOZRUNHUVRQIDUPVIRUHVWVQXUVHULHVDQGJUHHQKRXVHV
DQGKDQGOHUVRIDJULFXOWXUDOSHVWLFLGHV,WFRQWDLQVUHTXLUHPHQWVIRUWUDLQLQJGHFRQWDPLQDWLRQQRWLILFDWLRQDQGHPHUJHQF\
DVVLVWDQFH,WDOVRFRQWDLQVVSHFLILFLQVWUXFWLRQVDQGH[FHSWLRQVSHUWDLQLQJWRWKHVWDWHPHQWVRQWKLVODEHODERXWSHUVRQDO
SURWHFWLYHHTXLSPHQW 33( DQGUHVWULFWHGHQWU\LQWHUYDO7KHUHTXLUHPHQWVLQWKLVER[RQO\DSSO\WRXVHVRIWKLVSURGXFW
WKDWDUHFRYHUHGE\WKH:RUNHU3URWHFWLRQ6WDQGDUG

'RQRWHQWHURUDOORZZRUNHUHQWU\LQWRWUHDWHGDUHDVGXULQJWKHUHVWULFWHGHQWU\LQWHUYDO 5(, RIKRXUV

33(UHTXLUHGIRUHDUO\HQWU\WRWUHDWHGDUHDVWKDWLVSHUPLWWHGXQGHUWKH:RUNHU3URWHFWLRQ6WDQGDUGDQGWKDWLQYROYHV
FRQWDFWZLWKDQ\WKLQJWKDWKDVEHHQWUHDWHGVXFKDVVRLORUZDWHULV
‡ &RYHUDOOV
‡ 6KRHVSOXVVRFNVDQG
‡ &KHPLFDOUHVLVWDQWJORYHVPDGHRIDQ\ZDWHUSURRIPDWHULDO


635$<'5,)7$'9,625,(6
7+($33/,&$725,65(63216,%/()25$92,',1*2))6,7(635$<'5,)7%($:$5(2)1($5%<121
7$5*(76,7(6$1'(19,5210(17$/&21',7,216

,03257$1&(2)'523/(76,=(
$QHIIHFWLYHZD\WRUHGXFHVSUD\GULIWLVWRDSSO\ODUJHGURSOHWV8VHWKHODUJHVWGURSOHWVWKDWSURYLGHWDUJHWSHVWFRQWURO
:KLOHDSSO\LQJODUJHUGURSOHWVZLOOUHGXFHVSUD\GULIWWKHSRWHQWLDOIRUGULIWZLOOEHJUHDWHULIDSSOLFDWLRQVDUHPDGH
LPSURSHUO\RUXQGHUXQIDYRUDEOHHQYLURQPHQWDOFRQGLWLRQV

&RQWUROOLQJ'URSOHW6L]H±*URXQG%RRP
x 9ROXPH,QFUHDVLQJWKHVSUD\YROXPHVRWKDWODUJHUGURSOHWVDUHSURGXFHGZLOOUHGXFHVSUD\GULIW8VHWKHKLJKHVW
SUDFWLFDOVSUD\YROXPHIRUWKHDSSOLFDWLRQ,IDJUHDWHUVSUD\YROXPHLVQHHGHGFRQVLGHUXVLQJDQR]]OHZLWKD
KLJKHUIORZUDWH
x 3UHVVXUH8VHWKHORZHVWVSUD\SUHVVXUHUHFRPPHQGHGIRUWKHQR]]OHWRSURGXFHWKHWDUJHWVSUD\YROXPHDQG
GURSOHWVL]H
x 6SUD\1R]]OH8VHDVSUD\QR]]OHWKDWLVGHVLJQHGIRUWKHLQWHQGHGDSSOLFDWLRQ&RQVLGHUXVLQJQR]]OHVGHVLJQHG
WRUHGXFHGULIW

&RQWUROOLQJ'URSOHW6L]H±$LUFUDIW
x $GMXVW1R]]OHV)ROORZQR]]OHPDQXIDFWXUHU¶VUHFRPPHQGDWLRQVIRUVHWWLQJXSQR]]OHV*HQHUDOO\WRUHGXFHILQH
GURSOHWVQR]]OHVVKRXOGEHRULHQWHGSDUDOOHOZLWKWKHDLUIORZLQIOLJKW

%220+(,*+7±*URXQG%RRP
)RUJURXQGHTXLSPHQWWKHERRPVKRXOGUHPDLQOHYHOZLWKWKHFURSDQGKDYHPLQLPDOERXQFH

5(/($6(+(,*+7$LUFUDIW
+LJKHUUHOHDVHKHLJKWVLQFUHDVHWKHSRWHQWLDOIRUVSUD\GULIW:KHQDSSO\LQJDHULDOO\WRFURSVGRQRWUHOHDVHVSUD\DWD
KHLJKWJUHDWHUWKDQIWDERYHWKHFURSFDQRS\XQOHVVDJUHDWHUDSSOLFDWLRQKHLJKWLVQHFHVVDU\IRUSLORWVDIHW\

6+,(/'('635$<(56
6KLHOGLQJWKHERRPRULQGLYLGXDOQR]]OHVFDQUHGXFHVSUD\GULIW&RQVLGHUXVLQJVKLHOGHGVSUD\HUV9HULI\WKDWWKHVKLHOGV
DUHQRWLQWHUIHULQJZLWKWKHXQLIRUPGHSRVLWLRQRIWKHVSUD\RQWKHWDUJHWDUHD

7(03(5$785($1'+80,',7<
:KHQPDNLQJDSSOLFDWLRQVLQKRWDQGGU\FRQGLWLRQVXVHODUJHUGURSOHWVWRUHGXFHHIIHFWVRIHYDSRUDWLRQ


121$*5,&8/785$/86(5(48,5(0(176
7KHUHTXLUHPHQWVLQWKLVER[DSSO\WRXVHVRIWKLVSURGXFWWKDWDUH127ZLWKLQWKHVFRSHRI:RUNHU3URWHFWLRQ6WDQGDUG
IRUDJULFXOWXUDOSHVWLFLGHV &)53DUW 7KH:36DSSOLHVZKHQWKLVSURGXFWLVXVHGWRSURGXFHDJULFXOWXUDOSODQWVRQ
IDUPVIRUHVWQXUVHULHVRUJUHHQKRXVHV'RQRWHQWHURUDOORZRWKHUVWRHQWHUXQWLOVSUD\VKDYHGULHG

)LOHQDPH2PQL2LO  &/1GRF



7(03(5$785(,19(56,216
'ULIWSRWHQWLDOLVKLJKGXULQJDWHPSHUDWXUHLQYHUVLRQ7HPSHUDWXUHLQYHUVLRQVDUHFKDUDFWHUL]HGE\LQFUHDVLQJWHPSHUDWXUH
ZLWKDOWLWXGHDQGDUHFRPPRQRQQLJKWVZLWKOLPLWHGFORXGFRYHUDQGOLJKWWRQRZLQG7KHSUHVHQFHRIDQLQYHUVLRQFDQEH
LQGLFDWHGE\JURXQGIRJRUE\WKHPRYHPHQWRIVPRNHIURPDJURXQGVRXUFHRUDQDLUFUDIWVPRNHJHQHUDWRU6PRNHWKDW
OD\HUVDQGPRYHVODWHUDOO\LQDFRQFHQWUDWHGFORXG XQGHUORZZLQGFRQGLWLRQV LQGLFDWHVDQLQYHUVLRQZKLOHVPRNHWKDW
PRYHVXSZDUGDQGUDSLGO\GLVVLSDWHVLQGLFDWHVJRRGYHUWLFDODLUPL[LQJ$YRLGDSSOLFDWLRQVGXULQJWHPSHUDWXUHLQYHUVLRQV

:,1'
'ULIWSRWHQWLDOJHQHUDOO\LQFUHDVHVZLWKZLQGVSHHG
$92,'$33/,&$7,216'85,1**867<:,1'&21',7,216
$SSOLFDWRUVQHHGWREHIDPLOLDUZLWKORFDOZLQGSDWWHUQVDQGWHUUDLQWKDWFRXOGDIIHFWVSUD\GULIW

%RRPOHVV*URXQG$SSOLFDWLRQV
6HWWLQJQR]]OHVDWWKHORZHVWHIIHFWLYHKHLJKWZLOOKHOSWRUHGXFHWKHSRWHQWLDOIRUVSUD\GULIW

+DQGKHOG7HFKQRORJ\$SSOLFDWLRQV
7DNHSUHFDXWLRQVWRPLQLPL]HVSUD\GULIW


352'8&7,1)250$7,21
201,2,/LVUHILQHGSK\WRQRPLFRLOWKDWIXQFWLRQVDVDFRQWDFWLQVHFWLFLGH7KLVSURGXFWLVIRUXVHRQSODQWVWKDWDUHLQ
IROLDJHRULQWKHGRUPDQWVWDJH

7KLVSURGXFWLVLQWHQGHGIRUXVHE\FRPPHUFLDOJURZHUVDQGFRPPHUFLDODSSOLFDWRUV

86(5(675,&7,216$1'35(&$87,216
:KHQXVLQJWKLVSURGXFWLQFRPELQDWLRQZLWKRWKHUSHVWLFLGHVDVDXWKRUL]HGE\WKLVODEHOREVHUYHDOOFDXWLRQVXVH
UHVWULFWLRQVDQGRWKHUOLPLWDWLRQVRQWKHODEHOVIRUDOOSURGXFWVLQYROYHG

'RQRWXVH201,2,/ZKHQWHPSHUDWXUHVDUHDERYHž)

'RQRWHQWHURUDOORZRWKHUVWRHQWHUXQWLOVSUD\VKDYHGULHG

'RQRWDSSO\WKLVSURGXFWLQDZD\WKDWZLOOFRQWDFWZRUNHUVRURWKHUSHUVRQVHLWKHUGLUHFWO\RUWKURXJKGULIW

'RQRWDSSO\WKLVSURGXFWLQDZD\WKDWZLOOFRQWDFWDGXOWVFKLOGUHQRUSHWVGLUHFWO\RUWKURXJKGULIW

2QO\SURWHFWHGKDQGOHUVPD\EHLQWKHDUHDGXULQJDSSOLFDWLRQ

,IWHPSHUDWXUHVKDYHGURSSHGEHORZž) LQFOXGLQJRYHUQLJKWORZV GRQRWVSUD\WUHHDQGYLQHFURSVXQWLOGD\WLPH
WHPSHUDWXUHVKDYHULVHQWRDERYHž)DQGSODQWVDUHIUHHRIPRLVWXUHGXHWRPHOWLQJIURVWRUKHDY\GHZ

$SSOLFDWLRQVWRWUHHVZHDNHQHGE\GLVHDVHGURXJKWGULYLQJZLQGVRUKLJKQLWURJHQPD\UHVXOWLQRLOFDXVHGLQMXU\

7KHVSUD\WDQNPXVWEHPDGHIUHHRIDQ\VXOIXUUHVLGXHEHIRUHXVLQJ201,2,/([FHSWZKHUHGLUHFWHGRWKHUZLVHE\
WKLVODEHOGRQRWFRPELQHVXOIXUVSUD\VZLWK201,2,/)RUSODQWVDIHW\GRQRWIROORZDSUHYLRXVDSSOLFDWLRQRIVXOIXURU
DSSO\VXOIXUIROORZLQJ201,2,/XQWLODWOHDVWGD\VKDYHHODSVHGH[FHSWLQ2UHJRQ:DVKLQJWRQDQG,GDKRZKHUH
201,2,/PD\EHXVHGLQFRPELQDWLRQZLWKVXOIXULQWKHIROORZLQJDSSOLFDWLRQVLWXDWLRQV3HDUV±3RVWKDUYHVW DIWHUDOO
IUXLWLVRIIWKHWUHH 'RUPDQWDQG'HOD\HG'RUPDQW EHIRUHWKHVFDOHVVOLSRUSULRUWRRUDWEXGVZHOO DQG$SSOHV±SULRU
WRRUXSWRWKH'HOD\HG'RUPDQW LQFKJUHHQ SHULRG,ILQGRXEWVSUD\DSRUWLRQRIRQHWUHHSUHYLRXVO\WUHDWHGZLWK
VXOIXUXVLQJTXDUWRI201,2,/LQJDOORQVRIZDWHU,IVXIILFLHQWWLPHKDVQRWHODSVHGIROLDUEXUQZLOOVKRZLQVHYHUDO
GD\V

'RQRWXVH201,2,/LQFRPELQDWLRQZLWKRULPPHGLDWHO\EHIRUHRUDIWHUVSUD\LQJZLWKGLQLWURFRPSRXQGVIXQJLFLGHV
VXFKDV&DSWDQ)ROSHW'\UHQH0RUHVWDQRUDQ\RWKHUSURGXFWFRQWDLQLQJVXOIXU

([FHSWZKHUHVSHFLILHGRWKHUZLVHWKHUDWHVRI201,2,/SUHVFULEHGE\WKLVODEHODUHRQWKHEDVLVRIGLOXWLRQLQ
JDOORQVRIZDWHU

)LOHQDPH2PQL2LO  &/1GRF



7KLVSURGXFWPD\EHDSSOLHGXVLQJFRQYHQWLRQDOK\GUDXOLFVSUD\HUVFRQFHQWUDWHDSSOLFDWLRQHTXLSPHQWJURXQG
DSSOLFDWLRQHTXLSPHQWRUDLUFUDIW

:KHQDSSO\LQJE\JURXQGHTXLSPHQWXVHHQRXJKVSUD\VROXWLRQWRFRPSOHWHO\SHQHWUDWHWKHOHDIFDQRS\DQGFRYHUERWK
WRSDQGERWWRPRIDOOOHDYHVXQWLOZHWEXWZLWKRXWVLJQLILFDQWUXQRII7KLVODEHO¶VGLUHFWLRQVUHJDUGLQJYROXPHRIVSUD\
VROXWLRQSHUWDLQWRDSSOLFDWLRQVWRPDWXUHWUHHVDQGYLQHVZLWKQRUPDOIROLDJHFRYHU5HGXFHUDWHVSURSRUWLRQDOO\IRU
VPDOOHUDQGLPPDWXUHSODQWV

)RUDSSOLFDWLRQVE\FRQFHQWUDWHPHWKRGVDSSO\WKHWRWDODPRXQWRI201,2,/LQGLFDWHGRQWKHSHUJDOORQEDVLV
H[FHSWZKHUHWKHODEHOVSHFLILHVDFWXDOFRQFHQWUDWLRQUDWHV ([DPSOH,IWKHUDWHIRUDGLOXWHDSSOLFDWLRQLVH[SUHVVHGLQ
WHUPVRIJDOORQVSHUDFUH 

)RUDHULDODSSOLFDWLRQVDSSO\WKHTXDQWLW\RI201,2,/LQGLFDWHGIRUWKHFURSRURWKHUSODQWVWREHWUHDWHGLQVXIILFLHQW
ZDWHUWRSURYLGHJDOORQVRIVSUD\SHUDFUHH[FHSWZKHUHWKHODEHOSUHVFULEHVRWKHUZLVH$HULDODSSOLFDWLRQVDUHQRWDV
HIILFLHQWDVJURXQGVSUD\VIRUWUHHV7KHUHIRUHDHULDODSSOLFDWLRQVVKRXOGRQO\EHPDGHZKHQJURZLQJDQGRUVRLO
FRQGLWLRQVPDNHJURXQGDSSOLFDWLRQVLQIHDVLEOH

([FHSWZKHUHOLPLWHGE\WKLVODEHOWKHRSWLPXPVSUD\JDOORQDJHGHSHQGVXSRQWUHHRUFURSVL]HSODQWLQJGHQVLW\DQG
JURZWKVWDJH7\SLFDOSHUDFUHVSUD\JDOORQDJHZLOOUDQJHIURPJDOORQVIRUGLOXWHVSUD\JDOORQVIRU
FRQFHQWUDWHVSUD\DQGJDOORQVIRUDHULDODSSOLFDWLRQV

0,;,1*,16758&7,216
 $GGHQRXJKZDWHUWRWKHPL[LQJWDQNIRUSURSHUDJLWDWLRQ
 $GGPLFURQXWULHQWVDQGRWKHUGHVLUHGSHVWLFLGHV,IGU\SHVWLFLGHSURGXFWVDUHXVHGPL[WKHPDWHULDOVZLWKZDWHU
WKRURXJKO\VRWKDWWKH\DUHFRPSOHWHO\GLVSHUVHGLQWKHPL[LQJWDQN'2127DGG201,2,/EHIRUHDXQLIRUPPL[WXUH
RISHVWLFLGHDQGZDWHULVREWDLQHG
 0DLQWDLQDJLWDWLRQRIWKHPL[XQWLOWKHVSUD\LVDSSOLHG)OXVKDQ\VSUD\PL[UHPDLQLQJLQKRVHVEDFNLQWRWKHWDQNLIWKH
VROXWLRQVWDQGVIRUPRUHWKDQPLQXWHV
 (QVXUHWKDWVSUD\HTXLSPHQWLVWKRURXJKO\FOHDQVRWKDWUHVLGXHVIURPRWKHUDSSOLFDWLRQVGRQRWUHPDLQ

$/)$/)$ 6HHG&URS2QO\ 8VHTXDUWSHUDFUHLQDPLQLPXPRIJDOORQVRIZDWHUSHUDFUHIRUJURXQGDSSOLFDWLRQV
RULQDPLQLPXPRIJDOORQVRIZDWHUSHUDFUHIRUDHULDODSSOLFDWLRQVZKHQXVHGLQFRPELQDWLRQDQGDWWKHODEHOHGUDWHV
ZLWKLQVHFWLFLGHVRUPLWLFLGHVWKDWDUHODEHOHGIRUXVHZLWKRLOVSUD\V7RLQFUHDVHWKHHIIHFWLYHQHVVRIGHVLFFDQWVDSSO\
JDOORQVRISURGXFWSHUDFUHE\DLULQDPLQLPXPRIJDOORQVRIZDWHU7KLVXVHLVOLPLWHGWRKHUELFLGHGHVLFFDQWSURGXFWV
WKDWDUHODEHOHGIRUDOIDOIDVHHGGHVLFFDWLRQ

$/021'6$35,&276&+(55,(61(&7$5,1(63($&+(63/8063581(6'RUPDQWRU'HOD\HG'RUPDQW±
'LOXWH6SUD\%URZQ$SULFRW6FDOH%ODFN6FDOH6DQ-RVH6FDOH2OLYH6FDOH 3DUODWRULD6FDOH 2OHDQGHU6FDOH)URVWHG
6FDOH,WDOLDQ3HDU6FDOH(XURSHDQ)UXLW/HFDQLXP3XWQDP6FDOH6RIW%URZQ6FDOHRWKHU6FDOH,QVHFWV(JJVRI
$SKLGV5HG6SLGHU0LWHV%URZQ0LWHV±8VHWRJDOORQVLQWRJDOORQVRIZDWHUSHUDFUH&RQFHQWUDWH6SUD\
8VHWRJDOORQVSHUDFUHLQDPLQLPXPRIJDOORQVRIVSUD\$OPRQGVDQG$SULFRWV(XURSHDQ5HG0LWH%URZQ0LWH
6DQ-RVH6FDOH±8VHWRJDOORQVSHUDFUHLQDPLQLPXPRIJDOORQVRIVSUD\6SULQJRU6XPPHU'LOXWH6SUD\7ZR
VSRWWHG0LWHV3DFLILF0LWHV(XURSHDQ5HG0LWHVDQG%URZQ0LWHV±8VHWRJDOORQVLQWRJDOORQVRIZDWHUSHU
DFUH6SULQJRU6XPPHU&RQFHQWUDWH8VHWRJDOORQVSHUDFUHLQDPLQLPXPRIJDOORQVRIVSUD\$HULDO$SSOLFDWLRQ
8VHDWOHDVWDQGQRPRUHWKDQJDOORQVRISURGXFWLQDPLQLPXPRIJDOORQVRIVSUD\3OXPVDQG3UXQHV±'LOXWH
6SUD\3HDFK7ZLJ%RUHU±$SSO\±JDOORQVRIVSUD\VROXWLRQSHUDFUHXVLQJWRJDOORQVSHUJDOORQVRI
ZDWHU&RQFHQWUDWH6SUD\8VHWRJDOORQVSHUDFUHLQDPLQLPXPRIJDOORQVRIZDWHU$HULDO$SSOLFDWLRQ8VHWR
JDOORQVSHUDFUHLQDPLQLPXPRIJDOORQVRIVSUD\

5HVWULFWLRQVIRUDSSOLFDWLRQVRQ&+(55,(621/<'RQRWH[FHHGDPD[LPXPDSSOLFDWLRQUDWHRIJDOORQVSHU
JDOORQVRIVSUD\PL[WXUHRUE\YROXPH'RQRWDSSO\WKLVSURGXFWWRFKHUULHVLQFRQMXQFWLRQZLWKD]LQSKRVPHWK\O
EDVHGLQVHFWLFLGHV

$33/(65XVW0LWH'HOD\HG'RUPDQW±8VHWRJDOORQVRISURGXFWLQWRJDOORQVRIZDWHUSHUDFUH6XPPHU
8VH±8VHWRJDOORQVSHUDFUHLQDPLQLPXPRIJDOORQVRIVSUD\

$33/(63($56'RUPDQWRU'HOD\HG'RUPDQW±'LOXWH6SUD\6DQ-RVH6FDOH3HDU6FDOH(JJVRI$SKLGV5HG
6SLGHU0LWHV5XVW0LWHV $SSOHVRQO\±GHOD\HGGRUPDQW ±8VHWRJDOORQVLQWRJDOORQVRIZDWHUSHUDFUH

)LOHQDPH2PQL2LO  &/1GRF


3HDUVRQO\'HOD\HG'RUPDQW3HDU3V\OOD±8VHJDOORQVLQWRJDOORQVRIZDWHUSHUDFUH&RQFHQWUDWH6SUD\
8VHWRJDOORQVLQDPLQLPXPRIJDOORQVRIVSUD\SHUDFUH6XPPHU'LOXWH6SUD\7ZR6SRWWHG6SLGHU0LWHV3DFLILF
0LWHVDQG(XURSHDQ5HG0LWHV±8VHWRJDOORQVSHUDFUHGLOXWHGLQWRJDOORQVRIZDWHU&RQFHQWUDWH6SUD\
8VHQRPRUHWKDQJDOORQVSHUDFUHLQDPLQLPXPRIJDOORQVRIVSUD\$HULDO$SSOLFDWLRQ8VHQRPRUHWKDQ
JDOORQVRISURGXFWLQDPLQLPXPRIJDOORQVRIVSUD\SHUDFUH

'RUPDQW :DVKLQJWRQ2UHJRQDQG,GDKRRQO\ $SSOHV±'LOXWHVSUD\IRUPLWHVDQG6DQ-RVHVFDOHXVHWR
JDOORQVRIRLOSOXVVXOIXURUOLPHVXOIXUDWWKHVSHFLILHGODEHOUDWH&RQFHQWUDWHVSUD\8VHWRJDOORQVRIRLOSHUDFUHSOXV
WKHVSHFLILHGODEHOUDWHRIVXOIXURUOLPHVXOIXULQVXIILFLHQWZDWHUWRWRWDOWRJDOORQVRIVSUD\SHUDFUH3HDUV'LOXWH
6SUD\±3HDU3V\OODXVHWRJDOORQVRIRLOSOXVVXOIXURUOLPHVXOIXUDWWKHVSHFLILHGODEHOUDWH&RQFHQWUDWHVSUD\8VH
QRPRUHWKDQILYHJDOORQVRIRLOSOXVWKHVSHFLILHGODEHOUDWHRIVXOIXURUOLPHVXOIXULQVXIILFLHQWZDWHUWRWRWDOWR
JDOORQVRIVSUD\SHUDFUH

127(2LOSOXVVXOIXURUOLPHVXOIXUFDQFDXVHVHYHUHIROLDJHDQGIUXLWEXGLQMXU\LIDSSOLHGDIWHUWKHGRUPDQWSHULRG

$63$5$*86%($16%((76&251&8&85%,763(33(56648$6+$1'720$72(6$SKLGV0LWHV%HHWOH
/DUYDH/HDIPLQHUV&DWHUSLOODUV8VHWRJDOORQVRISURGXFWSHUJDOORQVRIZDWHUSHUDFUH

$92&$'26)RU0LWHVDQG7KULSV±8VHWRJDOORQVSHUDFUHLQDGLOXWHVSUD\RIWRJDOORQVSHUDFUH8VH
HQRXJKVSUD\IRUWKRURXJKFRYHUDJH'RQRWH[FHHGJDOORQVRIRLOSHUDFUHSHUDSSOLFDWLRQ)RUFRQFHQWUDWHVSUD\XVH
WRJDOORQVSHUDFUHLQWRJDOORQVRIVSUD\PL[WXUHRULQHQRXJKZDWHUIRUDGHTXDWHFRYHUDJH)RUDHULDO
DSSOLFDWLRQXVHWRJDOORQVSHUDFUHLQWRJDOORQVRIVSUD\:KHQWKHDSSOLFDWLRQRIRLOLVPRUHWKDQYY
FRQFHQWUDWLRQWUHDWDQGREVHUYHDVPDOODUHD$OORZHQRXJKWLPHIRUV\PSWRPVWRDSSHDUEHIRUHFRQWLQXLQJWRVSUD\

%$1$1$63/$17$,16)RUFRQWURORI%ODFN/HDI6WUHDN%ODFN6LJDWRNDDQG<HOORZ6LJDWRND8VHJDOORQVLQ
JDOORQVZDWHUSHUDFUH 0LVW%ORZHU8VHJDOORQVLQJDOORQVRIZDWHUSHUDFUH 1RWH%HJLQDSSOLFDWLRQZKHQ
GLVHDVHILUVWDSSHDUVDQGFRQWLQXHHYHU\GD\VGXULQJUDLQ\VHDVRQRUDVLVQHHGHG'RQRWDSSO\ZKHQGD\WLPH
WHPSHUDWXUHVH[FHHGƒ)DVLQMXU\PD\RFFXU3K\WRWR[LFLW\PD\EHDIIHFWHGE\WKHTXDQWLW\RIRLOXVHGYLJRURIWUHHV
DQGWHPSHUDWXUHDWWLPHRIDSSOLFDWLRQ%DJIUXLWVRUXVHDGLUHFWHGVSUD\RQXQEDJJHGIUXLWV%DJJHGIUXLWLPSURYHVFURS
VDIHW\ZKHUHDVXQEDJJHGIUXLWPD\VKRZSK\WRWR[LFLW\7KLVDSSOLFDWLRQPD\DOVRORRVHQ6RRW\0ROG)XQJXVDQGSUHYHQW
LWVIRUPDWLRQWKURXJKFRQWURORI$SKLGV0HDO\EXJV6FDOH,QVHFWVDQG:KLWHIOLHV

%/8(%(55,(6%86+%(55,(6&$1(%(55,(6)RUFRQWURORI0LWHV3RZGHU\0LOGHZDQG5XVWDSSO\
JDOORQVLQJDOORQVRIZDWHUSHUDFUH8VLQJJURXQGHTXLSPHQWVSUD\IRURSWLPXPFRYHUDJHRIOHDIVXUIDFHV)RU
)XQJDO'LVHDVHVXVHDWOHDVWSVLVSUD\SUHVVXUH

&$%%$*(&$8/,)/2:(5&(/(5<&2/(&5236/(778&( 21,216$SKLGV/HDIKRSSHUV/HDI0LQHUV
/RRSHUV0LWHV3ODQW%XJV7KULSV :KLWHIOLHV±8VH±JDOORQVLQJDOORQVRIZDWHUSHUDFUHLQFRPELQDWLRQZLWK
RWKHULQVHFWLFLGHVRUPLWLFLGHVUHJLVWHUHGIRUXVHRQWKHVHFURSV

&2))(()RUFRQWURORI*UHHQ6FDOHXVHJDOORQVLQJDOORQVRIZDWHUSHUDFUH8VHRQO\ZDWHUDVDGLOXHQW

),*6)LJ6FDOH±'RUPDQWRU'HOD\HG'RUPDQW±'LOXWH6SUD\8VHWRJDOORQVSHUJDOORQVRIZDWHU$SSO\WR
JDOORQVRIVSUD\PL[SHUDFUH8VHJDOORQVRISURGXFWSHUJDOORQVRIZDWHUIRUVHYHUHLQIHVWDWLRQV&RQFHQWUDWH
6SUD\8VHWRJDOORQVLQDPLQLPXPRIJDOORQVRIVSUD\SHUDFUH

*5$3(6 'RUPDQW 'LOXWH6SUD\0HDO\EXJ±8VHWRJDOORQVSOXVWKHDSSURSULDWHODEHOHGUDWHRIDQLQVHFWLFLGH
UHJLVWHUHGIRUXVHRQJUDSHVIRUPHDO\EXJFRQWUROLQWRJDOORQVZDWHUSHUDFUH&RQFHQWUDWH6SUD\8VHWR
JDOORQVSOXVWKHDSSURSULDWHODEHOHGUDWHRIDQLQVHFWLFLGHUHJLVWHUHGIRUXVHRQJUDSHVIRUPHDO\EXJFRQWUROSHUDFUHLQ
HQRXJKZDWHUIRUWKRURXJKFRYHUDJH6XSSUHVVLRQRI*UDSHDQG9DULHJDWHG/HDIKRSSHUQ\PSKV±8VHWRJDOORQV
SHUJDOORQVRIZDWHUDVDGLOXWHVSUD\RUJDOORQVSHUDFUHFRQFHQWUDWH0LWHVXSSUHVVLRQ±WRJDOORQVSHUDFUH
FRQFHQWUDWH1DUURZUDQJHRLOVVXFKDV201,2,/FDQWHPSRUDULO\DIIHFWVXUIDFHEORRPDSSHDUDQFHZLWKRXWFDXVLQJ
VXEVXUIDFHLQMXU\:KHQXVHGIRUOHDIKRSSHURUPLWHVXSSUHVVLRQZLWKLQGD\VRIKDUYHVW201,2,/VKRXOGQRWEH
DSSOLHGWRJUDSHVGHVLJQDWHGIRUIUHVKPDUNHW

*5$3(6 6XPPHU8VH 8VHóWRJDOORQSHUJDOORQVRIZDWHUWRFRQWUROPLWHVDQGSRZGHU\PLOGHZ'RQRW
H[FHHGJDOORQRIRLOSHUDFUHGXULQJVXPPHUDSSOLFDWLRQV'RQRWVSUD\QHDUWKHWLPHRIVXOIXUDSSOLFDWLRQ


)LOHQDPH2PQL2LO  &/1GRF


+236)RUFRQWURORI0LWHVDQG3RZGHU\0LOGHZ8VHJDOORQVRIRLOLQJDOORQVRIZDWHUSHUDFUH1RWH3RZGHU\
0LOGHZ,QLWLDWHVSUD\VDWHDUO\OHDIVWDJH&RQWLQXHVSUD\VHYHU\GD\V0LWHFRQWUROZLOOEHHIIHFWLYHXQGHUWKH
VDPHVSUD\LQWHUYDODVSRZGHU\PLOGHZVSUD\V

2/,9(6'LOXWH6SUD\3DUODWRULD6FDOH2OHDQGHU6FDOH2OLYH6FDOH%ODFN6FDOHDQG6SLGHU0LWHV±8VHJDOORQVRI
SURGXFWLQWRJDOORQVRUZDWHUSHUDFUH7KLVSURGXFWPD\EHDSSOLHGSRVWEORRP ODWH0D\WKURXJK-XQHZKHQ
FUDZOHUVDUHSUHVHQW LQVXPPHU -XO\WKURXJK$XJXVW DQGSRVWKDUYHVW 2FWREHUWKURXJK1RYHPEHU 

3,67$&+,26'RUPDQWDQG'HOD\HG'RUPDQW$SSOLFDWLRQV6RIW6FDOHDQG:LQWHULQJ3K\WRFRULV±8VHDORQHRULQ
FRPELQDWLRQZLWKRWKHUUHJLVWHUHGSURGXFWVODEHOHGIRUFRQWURORI6RIW6FDOHRQ3LVWDFKLRV

)RUFRQFHQWUDWHDSSOLFDWLRQV8VHWRJDOORQVRI201,2,/LQWRJDOORQVRIZDWHUSHUDFUH1RPRUHWKDQ
YYVROXWLRQLVSHUPLWWHGDVDFRQFHQWUDWHDSSOLFDWLRQ

)RUGLOXWHDSSOLFDWLRQV8VHWRJDOORQVRI201,2,/LQWRJDOORQVRIZDWHUSHUDFUH1RPRUHWKDQ
YYVROXWLRQLVSHUPLWWHGDVDGLOXWHDSSOLFDWLRQ)RUPRGHUDWHWRVHYHUHLQVHFWSRSXODWLRQWKHFRQFHQWUDWHDSSOLFDWLRQV
VKRXOGEHXVHG7RHQKDQFHHIILFDF\DSSO\E\PLG)HEUXDU\$SSOLFDWLRQVPDGHLQ-DQXDU\RU)HEUXDU\HVSHFLDOO\DW
KLJKHUUDWHVPD\UHVXOWLQDGYDQFHGEXGEUHDNDQGEORRPZKLFKPD\LQFUHDVHWKHSRWHQWLDOIRUIURVWGDPDJH'RQRW
DSSO\WKHSURGXFWZKHQWKHRUFKDUGLVQRWYLJRURXVRUZKHQLWLVXQGHUVWUHVV

675$:%(55,(67ZR6SRWWHG6SLGHU0LWHV±8VHSURGXFWDWWRYROXPHWRYROXPHLQJDOORQVRIZDWHUSHU
DFUHZLWKDLUDVVLVWHGORZYROXPHJURXQGDSSOLFDWLRQHTXLSPHQWRUJDOORQVRIZDWHUSHUDFUHZLWKVWDQGDUGJURXQG
VSUD\HTXLSPHQW$SSOLFDWLRQPD\EHPDGHGXULQJWKHZLQWHUPRQWKVZKHQSODQWVDUHVHPLGRUPDQW'RQRWXVHRLOIURP
SHDNEORRPWKURXJKSHDNIUXLWLQJSHULRG$SSOLFDWLRQVKRXOGEHPDGHZKHQPLWHVDUHDWQRPRUHWKDQDPRGHUDWH
LQIHVWDWLRQOHYHO+LJKHUOHYHOVRIPLWHLQIHVWDWLRQVZLOOUHTXLUHWUHDWPHQWZLWKPRUHHIIHFWLYHPLWLFLGHV0DNHDSSOLFDWLRQVDW
QROHVVWKDQGD\VEHWZHHQDSSOLFDWLRQV&RQVXOW\RXUORFDO([WHQVLRQ2IILFHIRUPRUHVSHFLILFORFDOPLWHWKUHVKROG
GHQVLW\UHFRPPHQGDWLRQVIRUWKLVW\SHRIWUHDWPHQW:KHQXVLQJUHILQHGSHWUROHXPRLOVRQVWUDZEHUULHVWKHUHZLOOEHD
GDQJHURISK\WRWR[LFLW\7RPLQLPL]HWKHSUREOHPGRQRWDSSO\WKLVSURGXFWZKHQZDUPWHPSHUDWXUHVGHJUHHV)DQG
KLJKHUDUHH[SHFWHGIRUVHYHUDOGD\VDIWHUDSSOLFDWLRQ

,Q&DOLIRUQLDGRQRWDSSO\WKLVSURGXFWIURP
x -DQXDU\WR0D\LQ2UDQJHDQG6DQ'LHJR&RXQWLHVDQGWKH2[QDUG3ODLQV
x )HEUXDU\WR-XQHLQWKH6DQWD0DULD9DOOH\DQG
x 0DUFKWR-XQHLQ0RQWHUH\DQG6DQWD&UX]&RXQWLHV

7523,&$/)58,76 .LZL0DQJR3DSD\DDQG3LQHDSSOH 
.LZL)RUFRQWURORI/DWDQLD6FDOH*UHHG\6FDOH2OHDQGHU6FDOHDQG6DQ-RVH6FDOH8VHJDOORQVRIRLOSHU
JDOORQVRIZDWHUSHUDFUH8VHJDOORQVRIRLOSHUJDOORQVRIZDWHUSHUDFUHZKHQVFDOHSRSXODWLRQVDUHKLJK

0DQJR)RUFRQWURORI0LWHVDQG3RZGHU\0LOGHZ8VHJDOORQVRIRLOLQJDOORQVRIZDWHUSHUDFUH

3DSD\D)RUFRQWURORI0LWHV3RZGHU\0LOGHZDQG3DSD\D5LQJVSRW9LUXV8VHJDOORQVLQJDOORQVRIZDWHU
SHUDFUH

3LQHDSSOH)RUFRQWURORI0HDO\EXJV%XG0RWKDQG&KLQHVH5RVH%HHWOH6SUD\8VHJDOORQVRIRLOLQJDOORQVRI
ZDWHUSHUDFUH'LS8VHJDOORQVRIRLOLQJDOORQVRIZDWHU'LSIRUVHFRQGV

72%$&&2)RUFRQWURORI$SKLGV0LWHV%HHWOH/DUYDH/HDIPLQHUV7KULSV/HDIKRSSHUDQG:KLWHIO\8VHJDOORQ
RIRLOSHUJDOORQVRIZDWHUSHUDFUH

&,7586 &LWUXVVSS)RUWXQHOODVSS 
25$1*(6 1$9(/$1'9$/(1&,$ *5$3()58,70$1'$5,16&,7521DQG27+(5&,7586VSS5HG6FDOH
<HOORZ6FDOH&LWULFROD6FDOH3XUSOH6FDOH%ODFN6FDOHDQG%URZQ6RIW6FDOH:KLWHIOLHV5HG6SLGHU0LWHV3DFLILF
6SLGHU0LWHVDQG7ZR6SRWWHG6SLGHU0LWHV'LOXWH6SUD\±$SSO\WRJDOORQVRISURGXFWSHUDFUHLQODWHVXPPHU
WKURXJK2FWREHU)RUVRXWKHUQ&DOLIRUQLD LQFOXGLQJDOOFRDVWDOFRXQWLHV DSSO\WRJDOORQVSHUDFUHWKURXJKRXWWKH
\HDU LHQRWLPLQJUHVWULFWLRQV 'RQRWDSSO\WRQDYHORUDQJHVGXULQJRUDIWHUFRORUEUHDN0DNHDSSOLFDWLRQVLQHQRXJK
ZDWHUIRUWKRURXJKFRYHUDJH&RQFHQWUDWH6SUD\±$SSO\LQDPLQLPXPRIJDOORQVSHUDFUH


)LOHQDPH2PQL2LO  &/1GRF


/(0216$1'/,0(65HG6FDOH<HOORZ6FDOH3XUSOH6FDOH%ODFN6FDOH%URZQ6RIW6FDOH5HG6SLGHU0LWHV%XG
0LWHVDQG)ODW0LWHV'LOXWH6SUD\±$SSO\WRJDOORQVRISURGXFWSHUDFUH$SSO\LQODWHVSULQJDQGODWHVXPPHU
WKURXJK'HFHPEHU,Q6RXWKHUQ&DOLIRUQLD LQFOXGLQJDOOFRDVWDOFRXQWLHV WRJDOORQVWKURXJKRXWWKH\HDU QRWLPLQJ
UHVWULFWLRQV 0DNHDSSOLFDWLRQVLQHQRXJKZDWHUIRUWKRURXJKFRYHUDJH&RQFHQWUDWH6SUD\±$SSO\LQDPLQLPXPRI
JDOORQVSHUDFUH

$//&,75869$5,(7,(6
)UHH]LQJ7HPSHUDWXUHV'RQRWXVHRLOVSUD\ZKHQIUHH]LQJWHPSHUDWXUHVDUHH[SHFWHGZLWKLQKRXUVRIWKH
DSSOLFDWLRQ&DUHVKRXOGEHWDNHQLQFRPELQLQJRLOVSUD\VZLWKRWKHUPLWLFLGHVDQGLQVHFWLFLGHVGXHWRWKHSRVVLELOLW\RI
LQFUHDVHGSK\WRWR[LFLW\ZKHQWKHFRPELQDWLRQVDUHDSSOLHGRYHUIROLDJH&RQVXOWDORFDO$JULFXOWXUDO([WHQVLRQ6HUYLFH
DJHQWIRUDGYLFHRQVSHFLILFFRPELQDWLRQV

$GMXYDQW8VHV7KLVSURGXFWPD\EHXVHGDVDQDGMXYDQWZLWKVXLWDEOHLQVHFWLFLGHVRUPLWLFLGHVWKDWDUHUHJLVWHUHGIRU
XVHRQFLWUXV'RQRWH[FHHGDYROXPHWRYROXPHFRQFHQWUDWLRQ
0D[LPXP$SSOLFDWLRQ$PRXQWV'RQRWH[FHHGSRXQGVDFWLYHLQJUHGLHQWSHUDFUH LQDPD[LPXPRIJDOORQV
RIVSUD\PL[SHUDFUH LQ7H[DVDQG)ORULGD'RQRWH[FHHGSRXQGVDFWLYHLQJUHGLHQWSHUDFUH LQDPD[LPXPRI
JDOORQVRIVSUD\PL[SHUDFUH LQ&DOLIRUQLD

:$/1876'HOD\HG'RUPDQW%ODFN6FDOH6DQ-RVH6FDOH2OLYH6FDOH)URVWHG6FDOH&DOLFR6FDOH(XURSHDQ)UXLW
/HFDQLXP6FDOH5HG6SLGHU0LWH(JJVDQG:DOQXW$SKLG(JJV'LOXWH6SUD\±8VHJDOORQVLQWRJDOORQVRI
ZDWHUSHUDFUH)ROLDU IXOO\H[SDQGHGOHDYHV 6SLGHU0LWHV±8VHJDOORQVRISURGXFWSHUDFUHLQWRJDOORQVRI
ZDWHUSHUDFUH&RQFHQWUDWH6SUD\IRUGHOD\HGGRUPDQWDQGIROLDUVSUD\VDSSO\LQDPLQLPXPRIJDOORQVRIZDWHUSHU
DFUH8VHRLORQO\RQWUHHVWKDWKDYHQRWVXIIHUHGIURPODFNRIPRLVWXUHRURWKHUVWUHVVLQJIDFWRUVGXULQJWKHJURZLQJ
VHDVRQ'RQRWDSSO\ZKHQVRLOPRLVWXUHLVORZ'RQRWDSSO\DIWHUKXVNVSOLW$VDQDGMXYDQWIRUQHXWUDOFRSSHU
FRPSRXQGVIRUFRQWURORI:DOQXW%OLJKWLQSUHDQGSRVWEORRPVSUD\V8VHTXDUWSHUJDOORQVRIZDWHUDVDGLOXWH
VSUD\)ROORZGRVDJHVDQGWLPLQJVRQWKHFRSSHUSURGXFWODEHO

6+$'(75((66+58%6251$0(17$/6)/2:(5$1')2/,$*(3/$176
6KDGH7UHHV
DQG6KUXEVLQFOXGLQJ&RQLIHUV'HFLGXRXV%URDGOHDI(YHUJUHHQVDQG:RRG\2UQDPHQWDOV
$SKLGV$GHOJLGV%XJV LPPDWXUH &DWHUSLOODUV(ULRSK\LG0LWHV*DOO0LWHV/DFH%XJV/HDI%HHWOH/DUYDH/HDIPLQHUV
0HDO\EXJV3V\OOLGV LPPDWXUH 6DZIO\/DUYDH6FDOHV LPPDWXUH 6SLGHU0LWHV:KLWHIOLHV LPPDWXUH :LQWHU'RUPDQW
3HULRGDVQHHGHG±8VHWRJDOORQVRISURGXFWSHUJDOORQVZDWHU1RWH7KLVSURGXFWPD\FDXVHGLVFRORUDWLRQRI
%OXH6SUXFH'RQRWXVHRQ&RQLIHUVRU)HUQVWKDWDUHQRWWROHUDQWWRRLOVSUD\V

2UQDPHQWDO7UHHV
6KUXEVDORQJFLW\VWUHHWVDQGRWKHUULJKWVRIZD\LQFOXGLQJ&RQLIHUV'HFLGXRXVDQG
%URDGOHDI(YHUJUHHQV$SKLGV$GHOJLGV%XJV LPPDWXUH &DWHUSLOODUV(ULRSK\LG0LWHV*DOO0LWHV/DFH%XJV/HDI
%HHWOH/DUYDH/HDIPLQHUV0HDO\EXJV3V\OOLGV LPPDWXUH6DZIO\/DUYDH6FDOHV LPPDWXUH 6SLGHU0LWHV:KLWHIOLHV
LPPDWXUH :LQWHU'RUPDQW3HULRGDVQHHGHG±8VHWRJDOORQVRISURGXFWSHUJDOORQVRIZDWHU6XPPHU )ROLDU
RU&RYHU DVQHHGHG±8VHWRJDOORQVRISURGXFWSHUJDOORQVZDWHU'RQRWXVHRQ&KULVWPDVWUHHV

5RVHVDQGRWKHU)ORZHULQJ6KUXEV$SKLGV$GHOJLGV%XJV LPPDWXUH &DWHUSLOODUV(ULRSK\LG0LWHV*DOO0LWHV/DFH
%XJV/HDI%HHWOH/DUYDH/HDIPLQHUV0HDO\EXJV3V\OOLGV LPPDWXUH 6DZIO\/DUYDH6FDOHV LPPDWXUH 6SLGHU0LWHV
:KLWHIOLHV LPPDWXUH :LQWHU'RUPDQW3HULRGDVQHHGHG±8VHWRJDOORQVSURGXFWSHUJDOORQVZDWHU6XPPHU
)ROLDURU&RYHU DVQHHGHG±8VHWRJDOORQVRISURGXFWSHUJDOORQVZDWHU

)ROLDJH2UQDPHQWDOV %HGGLQJ3ODQWV$SKLGV$GHOJLGV%XJV LPPDWXUH &DWHUSLOODUV(ULRSK\LG0LWHV*DOO0LWHV
/DFH%XJV/HDI%HHWOH/DUYDH/HDIPLQHUV0HDO\EXJV3V\OOLGV LPPDWXUH 6DZIO\/DUYDH6FDOHV LPPDWXUH 6SLGHU
0LWHV:KLWHIOLHV LPPDWXUH :LQWHU'RUPDQW3HULRGDVQHHGHG±8VHWRJDOORQVRISURGXFWSHUJDOORQVZDWHU
6XPPHU )ROLDURU&RYHU DVQHHGHG±8VHWRJDOORQVRISURGXFWSHUJDOORQVZDWHU

2LOUHPRYHVWKHJODXFRXV EOXH EORRPIURPVXFKHYHUJUHHQVDV&RORUDGR%OXH6SUXFHDQG.RVWHU6SUXFH$OZD\VXVH
ORZHUGRVDJHRUWHVWVSUD\RLOVHQVLWLYHSODQWVVXFKDV&U\SWRPHULD6PRNH7UHH&KDPDHF\SULV-XQLSHU-DSDQHVH+ROO\
DQG6SUXFH5HG&HGDUDQG'RXJODV)LUKDYHDWHQGHQF\WRZDUGVHQVLWLYLW\'RQRWVSUD\:DOQXWIROLDJH

5HVWULFWLRQV6SUD\QRPRUHWKDQWLPHVGXULQJWKHJURZLQJVHDVRQXVHDZHHNPLQLPXPDSSOLFDWLRQLQWHUYDO'RQRW
VSUD\ZKHQEXGVKDYHIXOO\RSHQHGDQGVKRRWHORQJDWLRQLVRFFXUULQJ'RQRWVSUD\ZKHQWKHUHLVREYLRXVPRLVWXUHGHILFLW
LQOHDYHVRUSODQWLVXQGHUVWUHVV)RUIDOOGRUPDQWDSSOLFDWLRQVUHGXFHUDWHWRJDOORQVRLOSHUJDOORQVZDWHU,QWKH
VWDWHRI&DOLIRUQLDRQO\OLPLWXVHWR$PHULFDQ5HG2DN-DSDQHVH%ODFN3LQH'RJZRRG:HHSLQJ&KHUU\&RUQHOLDQ

)LOHQDPH2PQL2LO  &/1GRF


&KHUU\&UDEDSSOH1RUZD\0DSOHDQG3XUSOH/HDI3OXP.HHSVSUD\DZD\IURPRSHQEORRPV%OHDFKLQJDQGVSRWWLQJRI
RSHQEORRPVKDYHEHHQREVHUYHGZLWKVRPHW\SHVRISODQWV

6725$*($1'',6326$/
'RQRWFRQWDPLQDWHZDWHUIRRGRUIHHGE\VWRUDJHRUGLVSRVDO

3(67,&,'( 6725$*( .HHS FRQWDLQHU ZHOO VHDOHG 'R QRW FRQWDPLQDWH ZLWK ZDWHU RU RWKHU VROXWLRQV WR DYRLG ORVV RI
HPXOVLILFDWLRQDQGSK\WRWR[LFLW\3URWHFWIURPH[FHVVLYHKHDW

3(67,&,'(',6326$/'RQRWFRQWDPLQDWHZDWHUIRRGRUIHHGE\VWRUDJHRUGLVSRVDO:DVWHVUHVXOWLQJIURPWKHXVHRI
WKLVSURGXFWPD\EHGLVSRVHGRIRQVLWHRUDWDQDSSURYHGZDVWHGLVSRVDOIDFLOLW\

&217$,1(5',6326$/
1215(),//$%/(&217$,1(5 (48$/7225/(667+$1*$//216 'RQRWUHXVHRUUHILOOWKLVFRQWDLQHU7ULSOH
ULQVH FRQWDLQHU RU HTXLYDOHQW  SURPSWO\ DIWHU HPSW\LQJ 7ULSOHU L Q V H D V I R O O R Z V  ( P S W \ W K H U H P D L Q L Q J F R Q W H Q W V L Q W R 
DSSOLFDWLRQ HTXLSPHQW RU DPL[ WDQN DQG GUDLQ IRU  VHFRQGV DIWHU WKH IORZ EHJLQV WR GULS )LOO WKH FRQWDLQHU ó IXOO ZLWK
ZDWHUDQGUHFDS6KDNHIRUVHFRQGV3RXUULQVDWHLQWRDSSOLFDWLRQHTXLSPHQWRUDPL[WDQNRUVWRUHULQVDWHIRUODWHUXVH
RUGLVSRVDO'UDLQIRUVHFRQGVDIWHUWKHIORZEHJLQVWRGULS5HSHDWWKLVSURFHGXUHWZRPRUHWLPHV2IIHUIRUUHF\FOLQJLI
DYDLODEOH RUSXQFWXUHDQG GLVSRVHRIFRQWDLQHULQDVDQLWDU\ ODQGILOORU E\RWKHU SURFHGXUHV DSSURYHGE\VWDWH DQGORFDO
DXWKRULWLHV

1215(),//$%/( &217$,1(5 *5($7(5 7+$1  *$//216  'R QRW UHXVH RU UHILOO WKLV FRQWDLQHU 7ULSOH ULQVH
FRQWDLQHU RU HTXLYDOHQW  SURPSWO\ DIWHU HPSW\LQJ 7ULSOH ULQVH DV IROORZV (PSW\ WKH UHPDLQLQJ FRQWHQWV LQWR DSSOLFDWLRQ
HTXLSPHQWRUDPL[WDQN)LOOWKHFRQWDLQHUóIXOOZLWKZDWHU5HSODFHDQGWLJKWHQFORVXUHV7LSFRQWDLQHURQLWVVLGHDQG
UROOLWEDFNDQGIRUWKHQVXULQJDWOHDVWRQHFRPSOHWHUHYROXWLRQIRUVHFRQGV6WDQGWKHFRQWDLQHURQLWVHQGDQGWLSLW
EDFNDQGIRUWKVHYHUDOWLPHV7XUQWKHFRQWDLQHURYHURQWRLWVRWKHUHQGDQGWLSLWEDFNDQGIRUWKVHYHUDOWLPHV(PSW\WKH
ULQVDWHLQWRDSSOLFDWLRQHTXLSPHQWRUDPL[WDQNRUVWRUHULQVDWHIRUODWHUXVHRUGLVSRVDO5HSHDWWKLVSURFHGXUHWZRPRUH
WLPHV 2IIHU IRU UHF\FOLQJ LI DYDLODEOH RU SXQFWXUH DQG GLVSRVH RI FRQWDLQHU LQ D VDQLWDU\ ODQGILOO RU E\ RWKHU SURFHGXUHV
DSSURYHGE\VWDWHDQGORFDODXWKRULWLHV

5(),//$%/(&217$,1(55HILOOWKLVFRQWDLQHUZLWKSHVWLFLGHRQO\'RQRWUHXVHWKLVFRQWDLQHUIRUDQ\RWKHUSXUSRVH
&OHDQLQJWKHFRQWDLQHUEHIRUHILQDOGLVSRVDOLVWKHUHVSRQVLELOLW\RIWKHSHUVRQGLVSRVLQJRIWKHFRQWDLQHU&OHDQLQJEHIRUH
UHILOOLQJLVWKHUHVSRQVLELOLW\RIWKHUHILOOHU7RFOHDQWKHFRQWDLQHUEHIRUHILQDOGLVSRVDOHPSW\WKHUHPDLQLQJFRQWHQWVIURP
WKLVFRQWDLQHULQWRDSSOLFDWLRQHTXLSPHQWRUPL[WDQN)LOOWKHFRQWDLQHUDERXWSHUFHQWIXOOZLWKZDWHU$JLWDWHYLJRURXVO\
RUUHFLUFXODWHZDWHUZLWKWKHSXPSIRUPLQXWHV3RXURUSXPSULQVDWHLQWRDSSOLFDWLRQHTXLSPHQWRUULQVDWHFROOHFWLRQ
V\VWHP5HSHDWWKLVULQVLQJSURFHGXUHWZRPRUHWLPHV2IIHUIRUUHF\FOLQJLIDYDLODEOHRUSXQFWXUHDQGGLVSRVHRILQD
VDQLWDU\ODQGILOORUE\RWKHUSURFHGXUHVDSSURYHGE\VWDWHDQGORFDODXWKRULWLHV

&21',7,2162)6$/(±/,0,7(':$55$17<
$1'/,0,7$7,2162)/,$%,/,7<$1'5(0(',(6
5HDGWKH&RQGLWLRQVRI6DOH±:DUUDQW\DQG/LPLWDWLRQVRI/LDELOLW\DQG5HPHGLHVEHIRUHXVLQJWKLVSURGXFW,I
WKHWHUPVDUHQRWDFFHSWDEOHUHWXUQWKHSURGXFWXQRSHQHGDQGWKHIXOOSXUFKDVHSULFHZLOOEHUHIXQGHG

7KHGLUHFWLRQVRQWKLVODEHODUHEHOLHYHGWREHUHOLDEOHDQGPXVWEHIROORZHGFDUHIXOO\,QVXIILFLHQWFRQWURORISHVWVDQGRU
LQMXU\ WR WKH FURS WR ZKLFK WKH SURGXFW LV DSSOLHG PD\ UHVXOW IURP WKH RFFXUUHQFH RI H[WUDRUGLQDU\ RU XQXVXDO ZHDWKHU
FRQGLWLRQVRUWKHIDLOXUHWRIROORZWKHODEHOGLUHFWLRQVRUJRRGDSSOLFDWLRQSUDFWLFHVDOORIZKLFKDUHEH\RQGWKHFRQWURORI
+HOHQD$JUL(QWHUSULVHV//& WKH&RPSDQ\ RUVHOOHU,QDGGLWLRQIDLOXUHWRIROORZODEHOGLUHFWLRQVPD\FDXVHLQMXU\WR
FURSVDQLPDOVPDQRUWKHHQYLURQPHQW7KH&RPSDQ\ ZDUUDQWVWKDWWKLVSURGXFWFRQIRUPVWRWKHFKHPLFDOGHVFULSWLRQ
RQWKHODEHO DQG LVUHDVRQDEO\ILWIRUWKHSXUSRVHUHIHUUHGWRLQ WKHGLUHFWLRQVIRUXVHVXEMHFWWR WKHIDFWRUVQRWHGDERYH
ZKLFK DUH EH\RQG WKH FRQWURO RI WKH &RPSDQ\ 7R WKH H[WHQW FRQVLVWHQW ZLWK DSSOLFDEOH ODZV WKH &RPSDQ\ PDNHV QR
RWKHU ZDUUDQWLHV RI DQ\ NLQG H[SUHVVHG RU LPSOLHG FRQFHUQLQJWKH SURGXFW LQFOXGLQJ QR LPSOLHG ZDUUDQW\ RI
PHUFKDQWDELOLW\RUILWQHVVIRUDQ\SDUWLFXODUSXUSRVH

7RWKHH[WHQWFRQVLVWHQWZLWKDSSOLFDEOHODZVWKHH[FOXVLYHUHPHG\DJDLQVWWKH&RPSDQ\IRUDQ\FDXVHRIDFWLRQUHODWLQJ
WRWKHKDQGOLQJRUXVHRIWKLVSURGXFWVKDOOEHOLPLWHGWRDW+HOHQD$JUL(QWHUSULVHV//&¶VHOHFWLRQRQHRIWKHIROORZLQJ
 5HIXQGRIWKHSXUFKDVHSULFHSDLGE\EX\HURUXVHUIRUSURGXFWERXJKWRU
 5HSODFHPHQWRIWKHSURGXFWXVHG
7RWKHH[WHQWFRQVLVWHQWZLWKDSSOLFDEOHODZWKH&RPSDQ\VKDOOQRWEHOLDEOHDQGDQ\DQGDOOFODLPVDJDLQVWWKH&RPSDQ\
DUHZDLYHGIRUVSHFLDOLQGLUHFWLQFLGHQWDORUFRQVHTXHQWLDOGDPDJHVRUH[SHQVHRIDQ\QDWXUHLQFOXGLQJEXWQRWOLPLWHG

)LOHQDPH2PQL2LO  &/1GRF


WRORVVRISURILWVRULQFRPH7KH&RPSDQ\DQGWKHVHOOHURIIHUWKLVSURGXFWDQGWKHEX\HUDQGXVHUDFFHSWLWVXEMHFWWRWKH
IRUHJRLQJFRQGLWLRQVRIVDOHDQGOLPLWDWLRQRIZDUUDQW\OLDELOLW\DQGUHPHGLHV
‹&RS\ULJKW+HOHQD+ROGLQJ&RPSDQ\