rston s lai ka c re in s s n n e o w t s c North Kyle Forest Masterplan u n i m k n n o a r c k a d n t a a l m p e e l d l i i n s r g e t t o a n w February 2016 Contents džĞĐƵƟǀĞ^ƵŵŵĂƌLJ ഩϱ ϱͮŽŵŵƵŶŝƚLJŽŶǀĞƌƐĂƟŽŶ ഩϰϱ ϭͮ/ŶƚƌŽĚƵĐƟŽŶ ഩϲ ϱ͘ϭ ŽŵŵƵŶŝƚLJŽŶƐƵůƚĂƚŝŽŶ ഩϰϱ Ϯͮ>ĂŶĚƐĐĂƉĞĂŶĚWůĂĐĞŶĂůLJƐŝƐ ഩϵ ϱ͘Ϯ ^ĐŚŽŽůƐǀĞŶƚ ഩϰϱ ϱ͘ϯ džŚŝďŝƚŝŽŶ ഩϰϱ Ϯ͘ϭ ĞƐĐƌŝƉƚŝŽŶ ഩϵ ϱ͘ϰ ŐĞŶĐLJtŽƌŬƐŚŽƉ ഩϰϳ Ϯ͘Ϯ >ĂŶĚĨŽƌŵ ഩϭϬ ϱ͘ϱ ^ƵŵŵĂƌLJ ഩϰϳ Ϯ͘ϯ >ĂŶĚƐĐĂƉĞŚĂƌĂĐƚĞƌ ഩϭϯ ϲͮZĞƐƚŽƌĂƟŽŶĐƟǀŝƚLJĂŶĚKƉƟŽŶƐ ഩϰϴ Ϯ͘ϰ hƌďĂŶŚĂƌĂĐƚĞƌ͗dŚĞŽĂůĨŝĞůĚsŝůůĂŐĞƐ ഩϭϰ ϲ͘ϭ /ŶƚƌŽĚƵĐƚŝŽŶ ഩϰϴ Ϯ͘ϱ dŚĞ&ŽƌĞƐƚƌĞĂ ഩϭϲ ϲ͘Ϯ ^ŝƚĞŚĂƌĂĐƚĞƌŝƐƚŝĐƐΘŶǀŝƌŽŶŵĞŶƚĂůŽŶƐƚƌĂŝŶƚƐ ഩϰϴ Ϯ͘ϲ džŝƐƚŝŶŐDŽǀĞŵĞŶƚEĞƚǁŽƌŬƐ ഩϮϬ ϲ͘ϯ ZĞƐƚŽƌĂƚŝŽŶKƉƚŝŽŶƐĂŶĚWŽƚĞŶƚŝĂůŽƐƚƐ ഩϰϴ Ϯ͘ϳ ƵůƚƵƌĂů,ĞƌŝƚĂŐĞĂŶĚWŚLJƐŝĐĂůƐƐĞƚƐ ഩϮϮ ϲ͘ϰ ŽͲŽƌĚŝŶĂƚŝŶŐǁŝƚŚdžŝƐƚŝŶŐZĞƐƚŽƌĂƚŝŽŶWƌŽƉŽƐĂůƐ ഩϱϬ Ϯ͘ϴ ŶĞƌŐLJ ഩϮϰ Ϯ͘ϵ ƌƌŝǀĂůĂŶĚ'ĂƚĞǁĂLJƐ ഩϮϲ ϳͮsŝƐŝŽŶ͕ŚĂůůĞŶŐĞƐ͕KƉƉŽƌƚƵŶŝƟĞƐ ഩϱϰ Ϯ͘ϭϬ WĞƌĐĞƉƚŝŽŶ ഩϮϴ ϳ͘ϭ sŝƐŝŽŶĨŽƌEŽƌƚŚ<LJůĞ ഩϱϰ Ϯ͘ϭϭ WƌŽƉŽƐĞĚZŽƵƚĞƐ ഩϯϬ ϳ͘Ϯ KƉƉŽƌƚƵŶŝƚŝĞƐ ഩϱϱ Ϯ͘ϭϮ ƐƐĞƚƐ ഩϯϮ ϳ͘ϯ ŚĂůůĞŶŐĞƐ ഩϱϱ Ϯ͘ϭϯ ^ƵŵŵĂƌLJ ഩϯϰ ϳ͘ϰ DĂƐƚĞƌƉůĂŶKďũĞĐƚŝǀĞƐ ഩϱϱ ϯͮ^ŽĐŝŽĐŽŶŽŵŝĐŶĂůLJƐŝƐ ഩϯϲ ϴͮEŽƌƚŚ<LJůĞ&ŽƌĞƐƚKƉƟŽŶƐƉƉƌĂŝƐĂů ഩϱϲ ϯ͘ϭ ĂƐƚLJƌƐŚŝƌĞ ഩϯϲ ϵͮdŚĞEŽƌƚŚ<LJůĞDĂƐƚĞƌƉůĂŶ ഩϲϮ ϯ͘Ϯ WŽůŝĐLJKďũĞĐƚŝǀĞƐ ഩϯϲ Wϱͺ/ŶĚŝĐĂƟǀĞDŽŶƚĂŐĞ͗&ŽƌĞƐƚ,Ƶď ϵ͘ϭ dŚĞDĂƐƚĞƌƉůĂŶ ഩϲϮ ϯ͘ϯ ĐŽŶŽŵŝĐ^ƚƌĂƚĞŐLJ ഩϯϲ ϭϬͮĐƟŽŶΘĞůŝǀĞƌLJWůĂŶ ഩϲϳ ϯ͘ϰ EŽƌƚŚ<LJůĞƌĞĂ ഩϯϳ ϭϬ͘ϭ ĐƚŝŽŶΘĞůŝǀĞƌLJWůĂŶ ഩϲϳ ϯ͘ϱ ƌĞĂĐƚŝŽŶWůĂŶƐ ഩϯϴ ϭϬ͘Ϯ ZĞůĂƚŝŽŶƐŚŝƉtŝƚŚZĞƐƚŽƌĂƚŝŽŶWƌŽƉŽƐĂůƐ ഩϲϳ ϯ͘ϲ ^ŽĐŝĂůĂƉŝƚĂů ഩϯϵ ϭϬ͘ϯ /ŵƉĂĐƚKĨ&ŽƌĞƐƚWůĂŶƐ ഩϲϳ ϯ͘ϳ dŽƵƌŝƐŵΘZĞĐƌĞĂƚŝŽŶ ഩϯϵ ϭϬ͘ϰ ĐƚŝŽŶWůĂŶ ഩϳϬ ϯ͘ϴ ^ƵŵŵĂƌLJ ഩϰϭ ϭϬ͘ϱ &ƵŶĚŝŶŐ ഩϳϱ ϰͮWŽůŝĐLJΘWƌŽƉŽƐĂůƐZĞǀŝĞǁ ഩϰϮ ϭϭͮƉƉĞŶĚŝĐĞƐ ഩϳϴ ϰ͘ϭ ĞǀĞůŽƉŵĞŶƚWůĂŶ ഩϰϮ ϭϭ͘ϭ &ŽƌĞƐƚDĂŶĂŐĞŵĞŶƚWůĂŶƐ ഩϳϴ ϰ͘Ϯ >WWůĂŶŶŝŶŐWŽůŝĐŝĞƐ ഩϰϯ ϰ͘ϯ ƵƌƌĞŶƚWƌŽƉŽƐĂůƐ ഩϰϰ ϰ͘ϰ 'ĂůůŽǁĂLJĂŶĚ^ŽƵƚŚĞƌŶLJƌƐŚŝƌĞŝŽƐƉŚĞƌĞ ഩϰϰ ϰ͘ϱ ŽŶĐůƵƐŝŽŶ ഩϰϰ &ŝŐƵƌĞƐ Figure 01: Site Location 4 Figure 02: Orientation Map 8 Figure 03: Understanding Scale 9 Figure 04: 1A: Landform 10 Figure 05: 1B: Topography 11 Figure 06: The Forest (Existing) 17 Figure 07: The Forest (Felling) 18 Figure 08: The Forest (Restocking) 19 Figure 09: Routes and Connections 21 Figure 10: Protected Sites & Cultural Heritage 23 Figure 11: Energy 25 Figure 12: Landscape Analysis 29 Figure 13: Proposed Routes 31 Figure 14: Existing Assets 33 Figure 15: Current Restoration Plans 35 Figure 16: The Hub 40 Figure 17: Extract: East Ayrshire Local Development Plan (Proposed Plan) 42 Figure 18: Current Operator Restoration Proposals 51 Figure 19: Current Restoration Proposals, with the key rationalised for direct comparison 52 Figure 20: Proposed Restoration: How the current restoration proposals would look in 30 years 53 Figure 21: North Kyle Forest Masterplan: Pioneer Phase 63 Figure 22: North Kyle Forest Masterplan: Transition Phase 64 Figure 23: North Kyle Forest Masterplan: Succession Phase 65 Figure 24: The Masterplan: Transformation 66 Figure 25: Timeline 68 Figure 26: HW2_Indicative Montage: Biosphere Route 72 Figure 27: PE4_Indicative Montage: Peat Wetland 72 Figure 28: PE5_Indicative Montage: Forest Hub 73 Figure 29: During Pioneer 79 Figure 30: During Transition 80 Figure 31: During Succession 81 ŽŶƚĂŝŶƐ&ŽƌĞƐƚƌLJŽŵŵŝƐƐŝŽŶŝŶĨŽƌŵĂƟŽŶůŝĐĞŶĐĞĚƵŶĚĞƌKƉĞŶ'ŽǀĞƌŶŵĞŶƚ>ŝĐĞŶĐĞǀϯ͘Ϭ ΞƌŽǁŶĐŽƉLJƌŝŐŚƚĂŶĚĚĂƚĂďĂƐĞƌŝŐŚƚϮϬϭϱ͘ůůƌŝŐŚƚƐƌĞƐĞƌǀĞĚKƌĚŶĂŶĐĞ^ƵƌǀĞLJ>ŝĐĞŶĐĞŶƵŵďĞƌϭϬϬϬϮϭϮϰϮ͘ Source: Esri, DigitalGlobe, GeoEye, i-cubed, Earthstar Geographics, CNES/Airbus DS, USDA, USGS, AEX, Getmapping, Aerogrid, IGN, IGP, swisstopo, and the GIS User Community.2015. 4 Figure 01: Site Location rston s lai ka c re in s s n n e o w t s c u n i m k n n o a r c k a d n t a a l m džĞĐƵƟǀĞ^ƵŵŵĂƌLJ p e e l d l i i n s r g e t t o a n w dŚĞ EŽƌƚŚ <LJůĞ &ŽƌĞƐƚ͕ ŽǁŶĞĚ ďLJ ƚŚĞ &ŽƌĞƐƚƌLJ ŽŵŵŝƐƐŝŽŶ ^ĐŽƚůĂŶĚ ;&^Ϳ ĂŶĚ ůŽĐĂƚĞĚ ^ŽĐŝŽĞĐŽŶŽŵŝĐĂŶĂůLJƐŝƐŽĨƚŚĞĂƌĞĂĐŽŶĮƌŵƐƚŚĞĐŚĂůůĞŶŐĞƐŝƚĨĂĐĞƐ͘dŚĞůŽĐĂůĂƌĞĂŚĂƐ &ŽƌĞƐƚ͖/ŶǀĞƐƚŝŶĐŽŵŵƵŶŝƚLJŚĞĂůƚŚĂŶĚǁĞůůďĞŝŶŐ͖ĂŶĚƐƵƉƉŽƌƚĞĐŽŶŽŵŝĐƌĞŐĞŶĞƌĂƟŽŶŝŶ ǁŝƚŚŝŶƚŚĞ'ĂůůŽǁĂLJ&ŽƌĞƐƚŝƐƚƌŝĐƚ͕ŝƐĂϰϬϬϬŚĞĐƚĂƌĞƐŝƚĞƚŚĂƚĐŽŶƚĂŝŶƐĨŽƌŵĞƌŽƉĞŶĐĂƐƚ ƌĞůĂƟǀĞůLJŚŝŐŚůĞǀĞůƐŽĨƵŶĞŵƉůŽLJŵĞŶƚĂŶĚĚĞƉƌŝǀĂƟŽŶ͕ǁŚŝĐŚŚĂƐŝŵƉůŝĐĂƟŽŶƐĨŽƌƚŚĞ ůŽĐĂůĐŽŵŵƵŶŝƟĞƐ͘ ĐŽĂůŵŝŶĞƐ͕ĐŽŵŵĞƌĐŝĂůĨŽƌĞƐƚƌLJ͕ƚŚĞ^ŽƵƚŚtĞƐƚ^ĐŽƚůĂŶĚ/ŶƚĞƌĐŽŶŶĞĐƚŽƌ͕Ă^^^/ĂŶĚĂƌĞĂƐ ƌĞƐŝĚĞŶƚƐ͛ŚĞĂůƚŚĂŶĚǁĞůůďĞŝŶŐ͘dŚĞƐĞĨĂĐƚŽƌƐǁŝůůďĞĞdžĂĐĞƌďĂƚĞĚŝŶƚŚĞĐŽŵŝŶŐLJĞĂƌƐǁŝƚŚ of natural and geological interest. the closure of the last of the opencast mines. dŚĞŵĂƐƚĞƌƉůĂŶƐŚŽƵůĚƉƌĞƐĞŶƚŽƉƉŽƌƚƵŶŝƟĞƐ ƐĞƌŝĞƐŽĨŽďũĞĐƟǀĞƐĨŽƌƚŚĞŵĂƐƚĞƌƉůĂŶǁĞƌĞƵƐĞĚƚŽĂƐƐĞƐƐƉŽƚĞŶƟĂůƉƌŽũĞĐƚƐƚŚĂƚĐŽƵůĚ ĨŽƌ ŝŶƚƌŽĚƵĐŝŶŐ ƚƌĂŝŶŝŶŐ ĂŶĚ ƐŬŝůůƐ ĚĞǀĞůŽƉŵĞŶƚ ŝŶƚŽ ƚŚĞ ĨŽƌĞƐƚ ĂŶĚ ŬĞLJ ĚĞůŝǀĞƌ ůŽĐĂů ďĞƉƌŽŵŽƚĞĚǁŝƚŚŝŶƚŚĞƐŝƚĞ͘KǀĞƌϮϬƉƌŽũĞĐƚƐĞŵĞƌŐĞĚ͘&ĞǁƉƌŽũĞĐƚƐǁĞƌĞĞdžĐůƵĚĞĚĚƵĞ /ƚŝƐƐŝƚƵĂƚĞĚǁŝƚŚŝŶĂŶĂƌĞĂŽĨĂƐƚLJƌƐŚŝƌĞƚŚĂƚŚĂƐƐĞĞŶǁŝĚĞƌĞĐŽŶŽŵŝĐĚĞĐůŝŶĞĂŶĚƚŚĞ ƌĞŐĞŶĞƌĂƟŽŶ ĂƐƉŝƌĂƟŽŶƐ͘ <ĞLJ ĞĐŽŶŽŵŝĐ ƐĞĐƚŽƌƐ ƚŚĂƚ ŚĂǀĞ ďĞĞŶ ŝĚĞŶƟĮĞĚ ĨŽƌ ŐƌŽǁƚŚ ƚŽƚŚĞůŽŶŐƟŵĞƐĐĂůĞƐŝŶǀŽůǀĞĚŝŶƚŚĞƌĞŐĞŶĞƌĂƟŽŶŽĨƚŚĞĨŽƌĞƐƚĂŶĚƚŚĞƐŚĞĞƌƐĐĂůĞŽĨƚŚĞ ĐŽůůĂƉƐĞŽĨŬĞLJŝŶĚƵƐƚƌŝĞƐ͘ ƉŽƚĞŶƟĂůĂƌĞƚŽƵƌŝƐŵ͕ƉĂƌƟĐƵůĂƌůLJƌĞůĂƟŶŐƚŽƚŚĞĂƌŬ^ŬŝĞƐWĂƌŬĂŶĚƚŚĞŝŽƐƉŚĞƌĞ͕ǀŝƐŝƚŽƌ ƐŝƚĞ͕ǁŚŝĐŚŽīĞƌŐƌĞĂƚƉŽƚĞŶƟĂůĨŽƌŵƵůƟͲƟĞƌĞĚĂĐƟŽŶƐĂŶĚĂĐƟǀŝƟĞƐ͘ ĞdžƉĞƌŝĞŶĐĞƐĂŶĚ&ŽŽĚΘƌŝŶŬ͘<ĞLJůŽĐĂůƚŽƵƌŝƐŵĚƌĂǁƐĂƌĞŚŝŐŚǀĂůƵĞƚŽƵƌŝƐŵŚƵďƐĂƚ &^ǁŝƐŚĞƐƚŽŝŶŇƵĞŶĐĞƚŚĞĚĞƐŝŐŶŽĨŽƉĞŶĐĂƐƚƐŝƚĞƌĞƐƚŽƌĂƟŽŶǁŝƚŚŝŶƚŚĞEĂƟŽŶĂů&ŽƌĞƐƚ ƌĂŝŐĞŶŐŝůůĂŶƐƚĂƚĞĂŶĚƵŵĨƌŝĞƐ,ŽƵƐĞ͘ŐƌĞĂƚĞƌĐƌŝƟĐĂůŵĂƐƐŽĨĂƩƌĂĐƟŽŶƐĂƌĞŶĞĞĚĞĚ tŝƚŚŝŶƚŚŝƐĚŽĐƵŵĞŶƚ͕ĮŐƵƌĞϮϰŝůůƵƐƚƌĂƚĞƐƚŚĞŵĂƐƚĞƌƉůĂŶĂŶĚĮŐƵƌĞƐϮϭ͕ϮϮ͕ϮϯŝůůƵƐƚƌĂƚĞ ƐƚĂƚĞĂŶĚŵĂŬĞƚŚĞďĞƐƚƵƐĞŽĨƚŚĞƌĞƐƚŽƌĞĚůĂŶĚǁŚĞŶŝƚŝƐƌĞƚƵƌŶĞĚƚŽ&^͘/ŶƚŚŝƐĐŽŶƚĞdžƚ͕ ƚŽĂƩƌĂĐƚŽǀĞƌŶŝŐŚƚǀŝƐŝƚŽƌƐ͘ ŚŽǁƚŚŝƐǁŝůůďĞĚĞůŝǀĞƌĞĚŽǀĞƌƚŚƌĞĞƉŚĂƐĞƐ͗WŝŽŶĞĞƌ͖dƌĂŶƐŝƟŽŶ͖ĂŶĚ^ƵĐĐĞƐƐŝŽŶ͘dŚĞƐĞ &^ĐŽŵŵŝƐƐŝŽŶĞĚƚŚŝƐϯϬLJĞĂƌŵĂƐƚĞƌƉůĂŶŝŶŽƌĚĞƌƚŽĚĞǀĞůŽƉĂĐŽůůĂďŽƌĂƟǀĞǀŝƐŝŽŶŽĨ ƉŚĂƐĞƐĂƌĞŶŽƚƟŵĞďŽƵŶĚ͕ďƵƚĂŶĂƚƵƌĂůƉƌŽŐƌĞƐƐŝŽŶŽĨƉŚĂƐĞĚĂĐƟǀŝƟĞƐ͘dŚĞLJƉƌŝŽƌŝƟƐĞ ƐƵƐƚĂŝŶĂďůĞĞŶǀŝƌŽŶŵĞŶƚƐĂŶĚĚĞǀĞůŽƉŵĞŶƚƐƚŚĂƚĐŽŶŶĞĐƚƉĞŽƉůĞ͕ƉůĂĐĞĂŶĚŶĂƚƵƌĞĂŶĚ DƵĐŚŽĨƚŚĞĚĞǀĞůŽƉŵĞŶƚĂĐƟǀŝƚLJŝŶƚŚŝƐĂƌĞĂŽĨĂƐƚLJƌƐŚŝƌĞŝƐĐƵƌƌĞŶƚůLJĂƌŽƵŶĚǁŝŶĚ ůŽǁĞƌŝŶƚĞƌǀĞŶƟŽŶĚĞǀĞůŽƉŵĞŶƚƐƚĂƌŐĞƚĞĚĂƚƌĂŝƐŝŶŐĂǁĂƌĞŶĞƐƐĂŶĚĐŚĂŶŐŝŶŐƉĞƌĐĞƉƟŽŶƐ ĐƌĞĂƚĞƐĂŶĞŶǀŝƌŽŶŵĞŶƚƚŚĂƚĞŶĂďůĞƐĞĐŽŶŽŵŝĐ͕ĞŶǀŝƌŽŶŵĞŶƚĂůĂŶĚƐŽĐŝĂůƌĞŐĞŶĞƌĂƟŽŶ ĞŶĞƌŐLJĚĞǀĞůŽƉŵĞŶƚ͘dŚĞEŽƌƚŚ<LJůĞ&ŽƌĞƐƚ͕ĨƌĞĞŽĨůĂŶĚƐĐĂƉĞĚĞƐŝŐŶĂƟŽŶƐ͕ŝƐŝĚĞŶƟĮĞĚ ƚŽďĞƐƵĐĐĞĞĚĞĚďLJƚŚĞĚĞǀĞůŽƉŵĞŶƚŽĨĂ&ŽƌĞƐƚ,ƵďƚŚĂƚǁŝůůŝŶƚƌŽĚƵĐĞƉĞŽƉůĞĂŶĚ ůŽĐĂůůLJ͘ ďLJĂƐƚLJƌƐŚŝƌĞŽƵŶĐŝůƐĞŵĞƌŐŝŶŐ>ŽĐĂůĞǀĞůŽƉŵĞŶƚWůĂŶĂƐŚĂǀŝŶŐĂŵĞĚŝƵŵůĂŶĚƐĐĂƉĞ ĂĐƟǀŝƟĞƐŝŶƚŽƚŚĞ&ŽƌĞƐƚŚĞĂƌƚ͘dŚĞ^ƵĐĐĞƐƐŝŽŶƉŚĂƐĞƐĞĞƐŶĞǁƵƐĞƐďĞŝŶŐŝŶƚƌŽĚƵĐĞĚ ƐĞŶƐŝƟǀŝƚLJƚŽƚƵƌďŝŶĞƐďĞƚǁĞĞŶϱϬͲϳϬŵŝŶŚĞŝŐŚƚĂŶĚĂŵĞĚŝƵŵͲůŽǁůĂŶĚƐĐĂƉĞƐĞŶƐŝƟǀŝƚLJ ŝŶƚŽĂƌĞĂƐŽĨƚŚĞĨŽƌĞƐƚƚŚĂƚŚĂǀĞďĞĞŶƌĞƐƚŽƌĞĚĂŶĚƚŚĞĐŽŵƉůĞƟŽŶŽĨƚŚĞŵŽƐƚĂŵďŝƟŽƵƐ άϭ͘ϳŵŽĨƌĞƐƚŽƌĂƟŽŶďŽŶĚƐŚĂǀĞďĞĞŶƐĞĐƵƌĞĚĨŽƌƚŚĞƐŝƚĞďLJ&ŽƌĞƐƚƌLJŽŵŵŝƐƐŝŽŶ^ĐŽƚůĂŶĚ͘ ƚŽƚƵƌďŝŶĞƐŽĨŽǀĞƌϳϬŵ͘/ŶĂĚĚŝƟŽŶƚŽůĂŶĚƐĐĂƉĞŝŵƉĂĐƚ͕ƚŚĞĐŽŶƐƵůƚĂƟŽŶnjŽŶĞŽĨWƌĞƐƚǁŝĐŬ ĂĐƟŽŶƐƚŚĂƚĐƵƚĂĐƌŽƐƐƚŚĞĞŶƟƌĞƚLJŽĨƚŚĞƐŝƚĞ͕ŝŶƉĂƌƟĐƵůĂƌƚŚĞŝŽƐƉŚĞƌĞǁĂůŬǁĂLJĂŶĚ &ƵƌƚŚĞƌďŽŶĚƐ͕ŝĨƐĞĐƵƌĞĚďLJĂƐƚLJƌƐŚŝƌĞŽƵŶĐŝů͕ĐŽƵůĚĐŽŶƚƌŝďƵƚĞĂĨƵƌƚŚĞƌάϮ͘ϵŵƚŽƚŚĞ ŝƌƉŽƌƚŝƐĂŶŽƚŚĞƌĐŽŶƐƚƌĂŝŶƚŽŶƚŚŝƐƚLJƉĞŽĨĚĞǀĞůŽƉŵĞŶƚŽŶƚŚĞƐŝƚĞ͘^ƵĐŚĚĞǀĞůŽƉŵĞŶƚƐ ĐLJĐůĞƌŽƵƚĞ͘dŚĞƟŵŝŶŐŽĨƚŚĞƌĞƐƚŽƌĂƟŽŶŽĨŽƉĞŶĐĂƐƚƐŝƚĞƐǁŝƚŚŝŶĂŶĚĂĚũĂĐĞŶƚƚŽƚŚĞƐŝƚĞ ƌĞƐƚŽƌĂƟŽŶďƵĚŐĞƚ͘dŚĞĐŽƐƚŽĨĨƵůůLJƌĞƐƚŽƌŝŶŐƚŚĞƐŝƚĞǁĂƐŽƌŝŐŝŶĂůůLJĞƐƟŵĂƚĞĚƚŽďĞάϲϬŵ͘ ŚĂǀĞĂůƐŽƉƌŽǀĞŶƚŽďĞŚŝŐŚůLJĚŝǀŝƐŝǀĞůŽĐĂůůLJ͘dŚĞďĂůĂŶĐĞŽĨŝŵƉĂĐƚǀĞƌƐƵƐůŽĐĂůďĞŶĞĮƚ ŚĂǀĞĂŶŝŵƉĂĐƚŽŶŚŽǁƚŚĞŵĂƐƚĞƌƉůĂŶĐĂŶďĞƉƌŽŐƌĞƐƐĞĚ͘ ŝŶ ƚŚĞ ĨŽƌŵ ŽĨ ĐŽŶƚƌŝďƵƟŽŶƐ ƚŽ Ă ůŽĐĂů ĐŽŵŵƵŶŝƚLJ ĞŶĞƌŐLJ ĨƵŶĚ ǁŽƵůĚ ŶĞĞĚ ĐĂƌĞĨƵů dŚĞŵĂƐƚĞƌƉůĂŶĨŽƌƚŚĞEŽƌƚŚ<LJůĞ&ŽƌĞƐƚĂŶĚƚŚĞĂĚũŽŝŶŝŶŐĂƌĞĂĂŝŵƐƚŽĐƌĞĂƚĞĂůĂƐƟŶŐ ĐŽŶƐŝĚĞƌĂƟŽŶ͘ dŚĞĚĞǀĞůŽƉŵĞŶƚŽĨƚŚŝƐŵĂƐƚĞƌƉůĂŶŚĂƐďĞĞŶůĞĚďLJ&ŽƌĞƐƚƌLJŽŵŵŝƐƐŝŽŶ^ĐŽƚůĂŶĚ͘&^ ĂŶĚƉŽƐŝƟǀĞůĞŐĂĐLJĨŽƌƚŚĞƐŝƚĞƚŚĂƚǁŝůůƌĞƉůĂĐĞĂďůŝŐŚƚĞĚůĂŶĚƐĐĂƉĞǁŝƚŚƐŽŵĞƚŚŝŶŐƚŚĂƚ ĚŽĞƐŶŽƚŚĂǀĞƚŚĞƌĞƐŽƵƌĐĞƐƚŽĚĞůŝǀĞƌƚŚĞŵĂƐƚĞƌƉůĂŶĚŝƌĞĐƚůLJ͕ďƵƚŝƐĐŽŵŵŝƩĞĚƚŽĐƌĞĂƟŶŐ ŝƐ ŶĂƚƵƌĂů͕ ŶĂƟǀĞ ĂŶĚ ǁĞůĐŽŵŝŶŐ ƚŽ ǁŝůĚůŝĨĞ͖ ĐŽŶŶĞĐƚƐ ĐŽŵŵƵŶŝƟĞƐĞŵŽƟŽŶĂůůLJ ĂŶĚ dŚĞŵĂƐƚĞƌƉůĂŶƚĞĂŵĞŶŐĂŐĞĚǁŝƚŚƐĐŚŽŽůĐŚŝůĚƌĞŶ͕ůŽĐĂůŐƌŽƵƉƐĂŶĚƌĞƐŝĚĞŶƚƐĨƌŽŵƚŚĞ ĂŶĞŶǀŝƌŽŶŵĞŶƚƚŽĂƐƐŝƐƚŝŶŝƚƐĚĞůŝǀĞƌLJǁŝƚŚŽƚŚĞƌƉĂƌƚŶĞƌƐ͘dŚĞ'ĂůůŽǁĂLJŝƐƚƌŝĐƚ&ŽƌĞƐƚ ƉŚLJƐŝĐĂůůLJǁŝƚŚƚŚĞƐŝƚĞ͖ƉƌŽǀŝĚĞƐŚŝŐŚƋƵĂůŝƚLJŽƉƉŽƌƚƵŶŝƟĞƐĨŽƌŽƵƚĚŽŽƌĞĚƵĐĂƟŽŶ͕ĂĐƟǀŝƚLJ ĐŽŵŵƵŶŝƟĞƐƐƵƌƌŽƵŶĚŝŶŐƚŚĞƐŝƚĞŝŶĂǀĂƌŝĞƚLJŽĨǁĂLJƐ͘dŚĞŝƌǀŝĞǁƐĂŶĚƚŚŽƐĞŽĨƚŚĞƐƚĂƚƵƚŽƌLJ ǁŝůůĂŵĞŶĚƚŚĞ>ĂŶĚDĂŶĂŐĞŵĞŶƚWůĂŶƚŽƚĂŬĞĂĐĐŽƵŶƚŽĨƚŚĞEŽƌƚŚ<LJůĞ&ŽƌĞƐƚ͛ƐĚŝƌĞĐƟŽŶ ĂŶĚƌĞĐƌĞĂƟŽŶ͖ĞŶĐŽƵƌĂŐĞƐƉĞŽƉůĞƚŽƐƚĂLJŚĞĂůƚŚLJĂŶĚŚĂƉƉLJ͖ĐƌĞĂƚĞƐǀĂůƵĂďůĞũŽďĂŶĚ ĂŐĞŶĐŝĞƐǁŽƌŬŝŶŐŝŶƚŚĞĂƌĞĂŚĂǀĞďĞĞŶĐƌŝƟĐĂůƚŽƚŚĞĚŝƌĞĐƟŽŶƚĂŬĞŶďLJƚŚĞŵĂƐƚĞƌƉůĂŶ͘ ŽĨĚĞǀĞůŽƉŵĞŶƚĂƐƐĞƚŽƵƚŝŶƚŚĞŵĂƐƚĞƌƉůĂŶĨŽůůŽǁŝŶŐĐŽŶƐƵůƚĂƟŽŶůŽĐĂůůLJ͘,ŽǁĞǀĞƌ͕ŝƚ ƚƌĂŝŶŝŶŐŽƉƉŽƌƚƵŶŝƟĞƐĨŽƌLJŽƵŶŐƉĞŽƉůĞ͖ĂŶĚŚĞůƉƐĚĞůŝǀĞƌƚŚĞ^ĐŽƫƐŚ'ŽǀĞƌŶŵĞŶƚ͛Ɛ >ŽĐĂůƉĞŽƉůĞǁĂŶƚƚŽƐĞĞƚŚĞŝŵƉŽƌƚĂŶĐĞŽĨƚŚĞŝƌůŽĐĂůĞŶǀŝƌŽŶŵĞŶƚƚŽďĞƌĞĐŽŐŶŝƐĞĚĂŶĚ ǁŝůůƌĞƋƵŝƌĞƉĂƌƚŶĞƌƐĨƌŽŵƚŚĞƉƌŝǀĂƚĞƐĞĐƚŽƌƚŽĐŽŵĞĨŽƌǁĂƌĚƚŽĚĞůŝǀĞƌŽƚŚĞƌĞůĞŵĞŶƚƐ͘ ƐƚƌĂƚĞŐŝĐŽďũĞĐƟǀĞƐĨŽƌĂ^ŵĂƌƚĞƌ͕,ĞĂůƚŚŝĞƌ͕'ƌĞĞŶĞƌ͕tĞĂůƚŚŝĞƌĂŶĚ&ĂŝƌĞƌ͕^ĂĨĞƌĂŶĚ ĐĂƉŝƚĂůŝƐĞĚŽŶ͖ŵŽƌĞŽƉƉŽƌƚƵŶŝƟĞƐĨŽƌŽƵƚĚŽŽƌĂĐƟǀŝƚLJĐƌĞĂƚĞĚ͖ĂƩƌĂĐƟŽŶƐĐƌĞĂƚĞĚƚŽďƌŝŶŐ /ĨƚŚŝƐĚŽĞƐŶŽƚŚĂƉƉĞŶ͕ƐŽŵĞĂƐƉĞĐƚƐŽĨƚŚĞŵĂƐƚĞƌƉůĂŶĐĂŶŶŽƚďĞĚĞůŝǀĞƌĞĚ͘&^ŝƐĂůƐŽ ^ƚƌŽŶŐĞƌ^ĐŽƚůĂŶĚ͘ ŝŶǀŝƐŝƚŽƌƐ͖ĂŶĚĂƐƵŝƚĞŽĨƌĞŶĞǁĂďůĞĞŶĞƌŐLJĚĞǀĞůŽƉŵĞŶƚƐƚŚĂƚĐŽƵůĚƐƵƉƉŽƌƚĐŽŵŵƵŶŝƚLJ ĐŽŵŵŝƩĞĚƚŽǁŽƌŬŝŶŐĐŽůůĂďŽƌĂƟǀĞůLJǁŝƚŚůŽĐĂůĐŽŵŵƵŶŝƚLJŽƌŐĂŶŝƐĂƟŽŶƐƚŽŚĞůƉƚŚĞŵ ƌĞŐĞŶĞƌĂƟŽŶ ǁŝƚŚŝŶ ƚŚĞ ƐĞƩůĞŵĞŶƚƐ͘ dŚĞLJ ǁĂŶƚ ƚŚĞ ĨŽƌĞƐƚ ƚŽ ĐŽŶƚƌŝďƵƚĞ ƚŽ Ă ƉŽƐŝƟǀĞ ĚĞůŝǀĞƌƉƌŽũĞĐƚƐĐŽŶƚĂŝŶĞĚǁŝƚŚŝŶƚŚĞŵĂƐƚĞƌƉůĂŶ͕ƵƐŝŶŐĞdžŝƐƟŶŐŵĞĐŚĂŶŝƐŵƐƐƵĐŚĂƐƚŚĞ dŚĞƐŝƚĞŝƐƐŽŵĞϰϬϬϬŚĂŝŶƐŝnjĞ͕ďƌŽĂĚůLJĨŽƌŵŝŶŐĂdƐŚĂƉĞ͕ĂŶĚĞdžƚĞŶĚƐƚŽϳ͘ϱŵŝůĞƐŝŶ ĨƵƚƵƌĞĨŽƌƚŚĞŝƌĐŚŝůĚƌĞŶ͘ EĂƟŽŶĂů&ŽƌĞƐƚ>ĂŶĚ^ĐŚĞŵĞǁŚĞƌĞĂƉƉƌŽƉƌŝĂƚĞ͘ ǁŝĚƚŚĂŶĚϰ͘ϱŵŝůĞƐŝŶůĞŶŐƚŚ͘hƉƚŽƚǁŽƚŚŝƌĚƐŽĨƚŚĞƐŝƚĞŝƐŝŶƉƌŽĚƵĐƟǀĞĨŽƌĞƐƚƌLJƵƐĞ ǁŝƚŚ Ă ƐŝŐŶŝĮĐĂŶƚ ƉŽƌƟŽŶ ĚƵĞ ĨŽƌ ĨĞůůŝŶŐ ŝŶ ƚŚĞ ŶĞdžƚ ϭϱ LJĞĂƌƐ͘ dŚĞ ƐŝƚĞ ŝƐ ůĂƌŐĞůLJ ŽŶ ĂŶ dŚĞŽƌŝŐŝŶĂůƌĞƐƚŽƌĂƟŽŶƉůĂŶĨŽƌƚŚĞŚĂůŵĞƌƐƚŽŶͬWĞŶŶLJǀĞŶŝĞŽƉĞŶĐĂƐƚƐŝƚĞƐǁŝƚŚŝŶƚŚĞ ƌĞǀŝĞǁŽĨƉŽƚĞŶƟĂůĨƵŶĚŝŶŐƐŽƵƌĐĞƐĂŶĚƉŽƚĞŶƟĂůĞdžƚĞƌŶĂůƉĂƌƚŶĞƌƐĨŽƌƉƌŽũĞĐƚĚĞůŝǀĞƌLJ ĞůĞǀĂƚĞĚƉůĂƚĞĂƵ͕ǁŝƚŚƵŶĚƵůĂƟŶŐůĂŶĚƐĐĂƉĞŽŶĐĞƚŚĞƉůĂƚĞĂƵŝƐƌĞĂĐŚĞĚ͘ƐĂƌĞƐƵůƚƚŚĞ EŽƌƚŚ<LJůĞ&ŽƌĞƐƚǁŽƵůĚŚĂǀĞĐŽƐƚĂƉƉƌŽdžŝŵĂƚĞůLJάϲϬŵƚŽŝŵƉůĞŵĞŶƚ͘^ŝŶĐĞƚŚĞĐŽůůĂƉƐĞŽĨ ƐŚŽǁƐ ƚŚĞ ŵƵůƟƉůĞ ƌŽƵƚĞƐ ƚŚƌŽƵŐŚ ǁŚŝĐŚ ƉƌŽũĞĐƚƐ ĐĂŶ ďĞ ĚĞůŝǀĞƌĞĚ͘ ĂƐƚ LJƌƐŚŝƌĞ ƐŝƚĞŝƐŚŝĚĚĞŶǁŝƚŚŝŶƚŚĞƐƵƌƌŽƵŶĚŝŶŐůĂŶĚƐĐĂƉĞĂŶĚ͕ĚƵĞƚŽŝƚƐĐŽŵŵĞƌĐŝĂůƵƐĞ͕ŝƐŶŽƚ ^ĐŽƫƐŚŽĂů͕ƚŚŽƐĞƉůĂŶƐŵƵƐƚďĞƐŝŐŶŝĮĐĂŶƚůLJƐĐĂůĞĚďĂĐŬ͘άϭ͘ϳŵŽĨƌĞƐƚŽƌĂƟŽŶďŽŶĚƐĂƌĞ tŽŽĚůĂŶĚƐĂŶĚƚŚĞŽŶĞŝŶĂůŵĞůůŝŶŐƚŽŶĂƌĞƚǁŽůŽĐĂůŽƌŐĂŶŝƐĂƟŽŶƐƚŚĂƚŚĂǀĞƐƚƌŽŶŐ ĐŽŶŶĞĐƚĞĚƚŽƚŚĞŶĞƚǁŽƌŬŽĨĐŽŵŵƵŶŝƟĞƐƚŚĂƚĞŶĐŝƌĐůĞŝƚ͕ŶŽƚĂďůĞWĂƚŶĂ͕ĂůŵĞůůŝŶŐƚŽŶ
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