Case 1:20-cv-00393-LMB-WEF Document 1425-3 Filed 09/09/22 Page 1 of 29 PageID# 36904
`Case 1:20-cv-00393-LMB-WEF Document 1425-3 Filed 09/09/22 Page 1 of 29 PagelD# 36904
`
`
`
`
`
`
`EXHIBIT 59
`EXHIBIT 59
`
`

`

`Case 1:20-cv-00393-LMB-WEF Document 1425-3 Filed 09/09/22 Page 2 of 29 PageID# 36905
`
`
`
`Delivering a Smoke-Free Future
`
`021 Fourth-Quarter and
`Full-Year Results
`
`February 10, 2022
`
` ÿ
`

 ÿ

ÿ
`
`

ÿ 
`and evaluated separately from the geographical operating segments
` 

ÿ ÿ
`
` !ÿ#$%%&'ÿ(ÿ)*'ÿ*+%ÿ&ÿ*(%,ÿ$#ÿ-*ÿ*(ÿ(ÿ**.%)ÿ/%,ÿ
`0112%,0ÿ&&$ÿ-*&*ÿ3&ÿÿ+&)*ÿ&&,ÿ&%ÿ4*$$ÿ&%ÿ&5%+*%,ÿ-*ÿ&$$&%ÿ&
`*$&%ÿÿ-*ÿ+%ÿ*$'ÿ+/&&3$*ÿ6787ÿ9!!2ÿ+*&%*%ÿ&*ÿ&ÿ-*ÿ*ÿ(ÿ&':%
`4*3&%ÿ%$*%,ÿ4--ÿ&*ÿ/%*ÿÿÿ4*3%*
` 6$*%%ÿ-*4%*ÿ%&*,ÿ&$$ÿ*(***%ÿÿ;<=>ÿ&*ÿÿÿ;<=>ÿ-*&..3ÿ/%,ÿ&ÿ&$$
`*(***%ÿÿ%+)*.(**ÿ/%ÿ*(*ÿÿ112%
` 94-ÿ&*%ÿ/*%**ÿÿ&ÿ#&ÿ3&%%ÿ*($*ÿ*'.*&$ÿ*$'#ÿ*%$%
` @$$4#ÿ-*ÿ&A%%ÿ(ÿ@*2-&+&,ÿBC/,ÿ&ÿD*&9/,ÿ2Eÿ&*ÿ-*ÿ0B-*0
`&*#'ÿÿ-*ÿ-ÿA&*ÿ(ÿFGFH7ÿI%*%%ÿ/*&%ÿ(ÿ-*ÿ0B-*0ÿ&*#'ÿ&*ÿ+&&#*
`&ÿ*J&$&*ÿ%*/&&*$'ÿ(+ÿ-*ÿ#*#&/-&$ÿ/*&#ÿ%*#+*%
`
`¢ Aglossary of key terms and definitions, including the definition for reduced-risk products,or
`"RRPs," additional heated tobacco unit market data, as well as adjustments, other calculations and
`reconciliations to the most directly comparable U.S. GAAP measuresare at the end of today’s
`webcast slides, which are posted on our website
`
`Introduction
`
`¢ Unless otherwise stated, all references to [QOS are to our QOS heat-not-burn products, andall
`references to smoke-free products refer to RRPs
`
`* Growth rates presented on an organic basis reflect currency-neutral underlying results
`
`¢ Following the acquisitions of Fertin Pharma, OtiTopic, and Vectura Group, PMI added the "Other"
`categoryin the third quarter of 2021. Business operationsfor the "Other" category are managed
`
`F
`
`

`

`Case 1:20-cv-00393-LMB-WEF Document 1425-3 Filed 09/09/22 Page 3 of 29 PageID# 36906
`Case 1:20-cv-00393-LMB-WEF Document 1425-3 Filed 09/09/22 Page 3 of 29 PagelD# 36906
`
`Forward-Looking and Cautionary Statements
`
`* This presentation and related discussion contains projections of future results and other forward-looking statements. Achievementof future results is subject to risks,
`uncertainties and inaccurate assumptions. In the event that risks or uncertainties materialize, or underlying assumptions prove inaccurate, actual results could vary
`materially from those contained in such forward-looking statements. Pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, PMI is
`identifying importantfactors that, individually or in the aggregate, could cause actual results and outcomesto differ materially from those contained in any forward-looking
`statements made by PMI
`
`PMI's businessrisks include: excise tax increases and discriminatory tax structures; increasing marketing and regulatory restrictions that could reduce our competitiveness,
`eliminate our ability to communicate with adult consumers,or ban certain of our products in certain markets or countries; health concernsrelating to the use of tobacco and
`other nicotine-containing products and exposure to environmental tobacco smoke;litigation related to tobacco use andintellectual property; intense competition; the
`effects of global and individual country economic, regulatory andpolitical developments, natural disasters and conflicts; changes in adult smoker behavior; lost revenues as
`a result of counterfeiting, contraband and cross-border purchases; governmental investigations; unfavorable currency exchange rates and currency devaluations, and
`limitations on the ability to repatriate funds; adverse changesin applicable corporate tax laws; adverse changesin the cost, availability, and quality of tobacco and other
`agricultural products and raw materials, as well as components and materials for our electronic devices; and theintegrity of its information systems and effectivenessofits
`data privacy policies. PMI's future profitability may also be adversely affected should it be unsuccessful in its attempts to produce and commercialize reduced-risk products
`or if regulation or taxation do not differentiate between such products andcigarettes;if it is unable to successfully introduce new products, promote brand equity, enter
`new markets or improve its margins through increased prices and productivity gains;if it is unable to expandits brand portfolio internally or through acquisitions and the
`developmentofstrategic business relationships;orif it is unable to attract and retain the best globaltalent. Future results are also subject to the lowerpredictability of our
`reduced-risk product category's performance
`
`In addition, PMI’s businessrisks also include risks and uncertainties related to PMI’s acquisitions of Fertin Pharma A/S("Fertin"), OtiTopic,Inc. ("OtiTopic") and Vectura
`Group plc ("Vectura"), including, amongst otherthings:(1) the possibility that the integration of the operations of Fertin and Vectura with those of PMI may be moredifficult
`and/ortake longer thananticipated, and may not accelerate PMI’s desired entry into additional smoke-free and beyond nicotine platformsas quickly as anticipated; (2) the
`possibility that the respective integrations of Fertin and Vectura into PMI may be morecostly than anticipated and may have unanticipated adverse results relating to
`Fertin, Vectura or PMI’s existing businesses; (3) the inability to gain access to or acquire differentiated proprietary assets, technology and/or pharmaceutical development
`expertise as anticipated by these acquisitions; (4) risks associated with third-party contracts containing consent and/or other contractual provisions that maybe triggered
`by the acquisitions; (5) the success of the research and developmentefforts of Fertin, OtiTopic and Vectura,including the ability to obtain regulatory approval for new
`products,and theability to commercialize or license these new products; (6) any unanticipated safety, quality or efficacy concerns and the impactof identified concerns
`associated with the products developedby Fertin, OtiTopic and Vectura;and(7) the ability of PMI to retain key personnelof Fertin and Vectura,orhire key talent to workin
`the Fertin and Vectura businessesduetotheir affiliation with PMI
`
`PMI is further subject to other risks detailed from timeto timein its publicly filed documents, including the Form 10-Q for the quarter ended September 30, 2021 and PMI’s
`Annual Report on Form 10-K for the fourth quarter and year ended December 31, 2021, whichwill be filed in the coming days. PMI cautions that the foregoinglist of
`importantfactors is not a complete discussion ofall potential risks and uncertainties. PMI does not undertake to update any forward-looking statement that we may make
`from timeto time, except in the normalcourseofits public disclosure obligations
`
`   
`ÿ
`ÿ 
`ÿ
`
`   
`ÿ
`ÿ 
`ÿ
`ÿ3 67"A()5
`
`the ultimate economic consequencesthereof
`
` 
`
`
` 
`
`
` 
` 
`    
`
` 
`     !
`
`
` 
`
`
`"
`
`  
`
`   #! 
`
`
` 
`! 
`   
`
`
`   
`
`$
` % &  
` $     
`'  ())*!$+" 
` 
` 
`  
` !
`   
`! 
`       
`
`
`
`   
`
`
` $+"
`$+", 
` 
`-. .
`
`  
` ./
`
`
`
`  
`     
`!
` 
`     
`  
`!  
`
`   
`
`  
` /
`
`
`    
`
` 
`  
`
`
`
` 
`.  
` 
`
`   /  
`   
`
` /
`
`  
`/
`  
`
`   
`
`  ! 
`    
`!
` 
`
` /
`
`   / 
`
`  
` 
`!
` 
`
`  / 
`
`
` 
`/
`  
`.
`
`
`
`!
`
`  
`
`    
`/
`
`    . /
`
` !   !
`0    
` 
`  
`  !  
`
`
`   
`  /
`
`   
` 
`
` 
`  
`    $+",        
`
`   
`   #  
`  
` .
`
`  
`   
` 
` /   
`  
` 
`  !   
`0 !
`
`
`     
` 
` 
`   
`/   
`  .
`  
`  
`
`  0  
`
`
` 
`   
`
` /    
`  
`
`  
`         
`   , 
`
`"
` 
`!$+"1 
` 
` 
`
`
`  $+"10  
` 
`$234
`45!6   !"
`346   45
`7
`8 34745!
`
`!
` 
`-3(5   
`
`  
` 
`
`7   $+"    
`
`2 
`
`
`  !
`
` $+"1 
`
`  
` 
` 
`
`  
` 0 
`  /395
`    
`
` 
`
`7
` $+"   
`
`  
`
`
`  
`
`
`!7 $+"1. 
` 
`/3:5
`   
` 0  
`   !
`  
`2   
`
`. 
`   0  
`/3;5     
`
`
`
`
`
`
`2  
`  
`  
` 0  
`/3*5 
` 
`  
`!6   
`7!
`
`   
`   
`
` !
`      #  
`
`  /3<5
`
`
`  !0   
`
`
`   
`  
`
`
`      
`!6   
`7/
`3=5   $+" 
`
`
` 
`
`7!  
` 
`
`
`
`7 
`    
` $+"
`$+"         
`     
`!
`
` (>? 0
` :>!9>9(
`$+"1
`
`
`' 
` (>@  0
`
`A :(!9>9(!     
` 
`$+"
` 
`  
`  
`  
`   
`  
`  
`
`
` $+" 
` 
` 
`   
`
` 
`    !.
`
`          
`
`
`
` 67"A()
`  
`  
`  
`
`   
`!
`
`   !
`  
`  !
` 
`
`
`
`!  
`
`!     
` 
`!  
`! 
`
`
`   
`6 
`
`
` 
`
` 
` 
`       
` 
` 
`! 
`  
` 
`  
`    
`    ! 
`  
`
` 
`
`  
`
`
` ! 
` 
` 
`
`
`
`
`!
`
`   !
`
`
` 
`!
` 
`
`
`
`   6
` 
`    
`
`  
`  
`
`     
`
`  
`
`   
`
`
`  67"A()
`  
`  
`   67"A()
`
`
`      
` 
`
`
`     
`
` 
`  
`
`
` 
`   !         
`
`
`
` 
`
`       
`  
` 8 
`
`   
`
`   
` 
`  
`     
`
`   #
` 
`   
`
` 
`  
`
` 
` 
`  
`  
`"
`
` 
`!
`  
` 
`      
`
` 67"A() 
`
`
`   
`
`   !
`  
`   !
`
` 
`
` 
`     
`      
` 
` 
`     
`
`   #
`   
`    
`
`  
` 
`  
` !
`
`
`
`  
`
` ! 
`
` !
`
` 
`
` 
`      !
`
` 
`  
`0
` 
`
`Forward-Looking and Cautionary Statements (COVID-19)
`
`¢ The ongoing COVID-19 pandemic has created significant societal and economicdisruption, and resulted in closures of stores,
`factories and offices, and restrictions on manufacturing, distribution and travel, all of which may adversely impact our
`business, results of operations, cash flows and financial position. Our business continuity plans and other safeguards may not
`be effective to mitigate the impact of the pandemic
`
`Currently, significant risks include our diminished ability to convert adult smokers to our reduced-risk products, significant
`volume declines in our duty-free business and certain other key markets, disruptions or delays in our manufacturing and
`supply chain, increased currency volatility, and delays in certain cost saving, transformation and restructuringinitiatives. Our
`business could also be adversely impactedif key personnel or a significant number of employees or business partners become
`unavailable due to the continuation of the COVID-19 pandemic. The significant adverse impact of COVID-19 on the
`economic or political conditions in markets in which we operate could result in changes to the preferences of our adult
`consumers and lower demand for our products, particularly for our mid-price or premium-price brands. Continuation of the
`pandemic could disrupt our access to the credit markets or increase our borrowing costs. Governments may temporarily be
`unable to focus on the development of science-based regulatory frameworks for the development and commercialization of
`reduced-risk products or on the enforcement or implementation of regulations that are significant to our business. In
`addition, messaging about the potential negative impacts of the use of our products in relation to COVID-19 risks may lead to
`increasingly restrictive regulatory measures on the sale and use of our products, negatively impact demandfor our products,
`the willingness of adult consumersto switch to our reduced-risk products and our efforts to advocate for the development of
`science-based regulatory frameworks for the development and commercialization of reduced-risk products
`
`The impact of these risks also depends on factors beyond our knowledgeor control, including the duration and severity of the
`pandemic,its recurrence in our key markets, actions taken to contain its spread and to mitigate its public health effects, and
`
`:
`
`;
`
`

`

`Case 1:20-cv-00393-LMB-WEF Document 1425-3 Filed 09/09/22 Page 4 of 29 PageID# 36907
`Case 1:20-cv-00393-LMB-WEF Document 1425-3 Filed 09/09/22 Page 4 of 29 PagelD# 36907
`
`Strong 2021 Performance
`
`¢ Excellent 2021 organic net revenue and EPS growth
`
`¢ Reacceleration of performance in Q4
`
`* Overall volume growth in Q4 and 2021
`
`¢ Recovering !QOS user growth despite device supply
`constraints:
`
`— 21.2m estimated IQOS users, +0.8m in Q4
`
`— 31% RRP organic net revenue growthin 2021
`
`— Smoke-free net revenues passing 30% of total PMI in Q4
`
`* [QOS ILUMA superbstart in Japan & Switzerland
`
`¢ Improving market share in combustibles
`
`¢ Milestone acquisitions to support long-term growthin
`Wellness & Healthcare
`
`FY, 2021: Excellent Net Revenue and EPS Growth
`
`¢ Returning strong cash flow to shareholders through
`increased dividend and share repurchases
`Source: PMI Financials or estimates
`
`Source: PMI Financials or estimates
`
`Adjusted Net Revenues
`
`(Organicvariance vs. PY)
`
`Net Revenueper Unit®)
`
`(Organic variancevs. PY)
`
`Ol Margin
`
`(Organicvariance vs. PY)
`
`Adjusted Diluted EPS
`
`(Currency neutral variancevs. PY)
`
`Operating Cash Flow
`
`(a) Reflects total adjusted PMI net revenuesdivided by total PMI cigarette and HTU shipment volume
`
`

`

`Case 1:20-cv-00393-LMB-WEF Document 1425-3 Filed 09/09/22 Page 5 of 29 PageID# 36908
`
`#$%ÿ&'&( ÿ ÿ!
`ÿ ÿ ÿ) 
`KcMbO
`^0/ÿ_0`0V-0.
`KbMLO
`^0/ÿ_0`0V-0ÿ]0TÿaV3/YS[
`YLZ[\].
`PQÿRSTU3V
`KLLMNO
`8W;XB=E>ÿDB;EB=><ÿDFGÿHIJ
`*+,-./0+ÿ234-/0+ÿ567
`8W;XB=E>ÿDB;EB=><ÿDFGÿHIJ
`8W;XB=E>ÿDB;EB=><ÿDFGÿHIJ
`89:;;<=>?ÿ=<:A;BCÿDB;EB=><ÿDFGÿHIJ
` ÿÿ
`ÿ  ÿ


` 

ÿÿ ÿ
`ÿ





ÿÿ  ÿÿ  ÿ 

ÿÿ
` ÿ
` ÿÿ!  
`ÿÿ
`  
`ÿ
`
` ÿ&'&&ÿgh ÿ!

 
`ÿiÿÿ 
`j ÿh ÿ k
`LLˆ‰LLc\V
`~€€ÿP-/4‚YS[
`l

ÿmnWoÿ

ÿ
`pÿe ÿ&'&&ÿ
` ÿÿ
`b‰ŒO
` 
`ÿ 

ÿh ÿ  
`
`ƒ„aÿ7…3]†0V/ÿ
`l

 ÿ  ÿÿ ÿ  ÿÿ

ÿ
`‡4-†0
`
`ÿ 

ÿ 

ÿ
`ŽZ‰LŽZ\].
`*+,Mÿ^0/ÿ_0`0V-0ÿ
`l&%ÿ&'&(ÿ
`ÿh ÿ  q 
`jrs((tÿs  ÿh ÿÿ


` 

`ŠT‹/…
`
`

 

ÿfÿ ÿ
` ÿÿuvw(&suvwx'
`c‰LLO
`*+,-./0+ÿPQÿ
`RSTU3Vÿ5]SV.3V
`l


`ÿ  ÿÿ  ÿÿy$zÿ
`ÿ ÿ
`*+,-./0+ÿ234-/0+ÿ
`
` ÿe ÿ 
`%ÿ ÿ

ÿ ÿ ÿf%ÿ
`567ÿŠT‹/…
`{  
`ÿ)%ÿk
`ÿ|
`l 
`ÿu"rzÿ
` ÿ
`
`ÿ

ÿ
` ÿiÿx(%ÿ&'&(%ÿ 

ÿ  ÿ  ÿ
`
`ÿ }
` 
`
` ÿÿdÿ ÿ ÿ
`
`ÿÿ
`%ÿ ÿe 
`ÿ 

ÿÿÿ  ÿ
`
`ÿÿf
` ÿÿ!  
`ÿÿ
`  
`
`
`"
`
`r
`
`

`

`Case 1:20-cv-00393-LMB-WEF Document 1425-3 Filed 09/09/22 Page 6 of 29 PageID# 36909
`
`'(''ÿ)"ÿ*&
`
`,-,,ÿ
`/0123456ÿ75589:6;0<5
`E,F60ÿEGF
`EGF60ÿLGF
`=064>ÿ?<@8561AÿB0>892C4D
`R,,F
`HI?ÿ=064>ÿJK;:92<6ÿB0>892
`RWGGX-Y<
`MNN236;O2ÿ=4PÿQ462
`RWGX-Y<
`S:2146;<TÿU45Kÿ/>0V
`WGX^-EWGX^^
`U4:;64>ÿMP:2<@;68125ÿ
`ZG[,,ÿ7@\8562@ÿ];>862@ÿMHJ
` ÿ
`

ÿ 
` ÿ  ÿÿÿ ÿ
`

ÿ  ÿ
`ÿ 
`

ÿ ÿÿ
`ÿ 
` ÿ ÿÿ ÿ
`  ÿ!"ÿ 
`

ÿ 
`
`
`
`ÿ#$ÿ%
` 
` ÿÿ
`& 
`

ÿÿ#& ÿ`
`
`

ÿ ÿa&ÿb
`hi
`%ÿo 
` ÿ#$ÿ
`&ÿa&ÿ!
`
`ÿ
`
`LGdX-FL,XcFLcX,FUK4<T2O5XÿHm
`GegXe
`dGnXn
`d-cXf
`GdfXc
`LGeXnY;>>;0<CgXfDY;>>;0<
`=064>
`,^Xcÿ
`n^X-ÿ
`=064>
`dfXGÿ
`,GXd
`k=l5
`k=l5
`f,eX^
`f,cXnÿ
`G^eXcÿ
`G^cXd
`U;T4126625
`U;T4126625
`hijÿ'('(
`hijÿ'('_
`%ojÿ'('(
`%ojÿ'('_
`ÿ#$ÿ%
` 
` ÿÿ
`& ÿ
`
`+
`
`L,cXeFC-XfDFL,X,FUK4<T2O5XÿHm
`
`_(
`
`

`

`Case 1:20-cv-00393-LMB-WEF Document 1425-3 Filed 09/09/22 Page 7 of 29 PageID# 36910
`
` ÿ ÿ
`



ÿ
`

 ÿ

ÿ 
`'(.,(/
`ÿÿÿÿÿ 

ÿ 

ÿ 
`-(.
`+(,
`*(+
`'()
`'('
`/'+
`/'0
`/'-
`/'.
`/')
`/'/'
`/'/
`QIJ
`HIJ
`NOIP
`JMIJ
`KLIH
`HOIM
`LKIQ
`123ÿ567ÿ89:;<=>?ÿ@ABC<=ÿDE:BB:A>ÿC>:?FG
` 

!ÿ 

ÿ" ÿ#$ ÿ ÿ$ÿ#%


` # !ÿÿ&#ÿ ÿ 



ÿ
`,'ÿÿ

ÿ^ "  ÿ ÿ\ ]&
`d*'e+'
`\ ]& ÿ

ÿ^ "  ÿÿÿÿÿ 

ÿÿ$c

$ÿ

ÿ^ "  
`S[TfVWXÿZ[ZR
`'(//(-/(-,(..(-/,(./)(
`/'+
`/'0
`/'-
`/'.
`/')
`/'/'
`/'/
`/'/,
`/'/+
`  %

`


` 

!ÿ\ ] ÿ

ÿ "  ÿ#$ ÿ^^ÿ

ÿ "  ÿ$ÿ

ÿ "  ÿ ÿ

 ÿ_`

 aÿ#

% b
` # !ÿÿ&#ÿ ÿ 



ÿ
`
`RSTUVWXÿZ[ZR
`
`
`/
`
`

`

`2K885CG9ÿ;ÿ
`RGSK>L>4>7CL
`
` ÿ ÿÿÿÿ
` ÿÿÿ 
`/*0 1
`!"#&%%
`/N0O1
`!P#Q%%
`!Q#P%%
`!"#$%%
`/)0)1
`!P#Q%%
`@ABÿ3CDÿE5F>G5ÿH8>G>C6
`23456789ÿ;ÿ
`<38=54ÿ<>?
`ÿ
` '(ÿ)*)
` '(ÿ)*)
`27IJKL4>JM5ÿH8>G>C6
` 
`,-.-ÿ
`ÿ+
` 
` 
` 
` 
`


` ÿ
`

ÿ ÿ ÿÿ
`
`
`
` -ÿU(ÿ
`ÿÿVVÿW ÿ

ÿÿU+ 
`,-.-ÿ

ÿ
`/T)0b1
`/T)0O1
`!$#X%%
`/T*0b1
`cP#"d%%
`!P#$
`]^;Rÿ;ÿ_4`58
`2K885CG9ÿ;ÿ
`RGSK>L>4>7CL
`^87LLÿ<386>Cÿ
`a?%3CL>7C
` '(ÿ)*)*
` '(ÿ)*)
` '(ÿ)*)
`YU-ÿZÿÿ[ \
` ÿ
`

ÿ ÿ ÿÿ
`
`Case 1:20-cv-00393-LMB-WEF Document 1425-3 Filed 09/09/22 Page 8 of 29 PageID# 36911
`
`T
`
`

`

`Case 1:20-cv-00393-LMB-WEF Document 1425-3 Filed 09/09/22 Page 9 of 29 PageID# 36912
`
`  ÿ 
`


`ÿ ÿ 

`9:9,ÿ ÿÿ #  ÿ' & ÿ
`; #ÿ

0ÿ1<ÿÿ=
`

 ÿ


`ÿ   ÿ

 ÿ
`
`


`

ÿÿÿ

 ÿ !
`
`" 
`>?@ABÿDEÿ
`FGH@ABIIBÿ
`LMNPO
`LQNQO
`LQNRO
`J@AKBILMNLO
`  ÿ ÿ  # ÿ


`ÿ#  ÿ

 
`,
`9
`S
`
`23456234362748627436
` ÿ  ÿ ÿ $ "ÿ

% #ÿ ÿ

&
` ÿ 

`  ÿ  & ÿ  ÿÿ


`'$ÿ &
` 

 


`ÿ

ÿ#  ÿ 

`ÿ(ÿ)#ÿ 

ÿ  ÿÿ* + 
`. /ÿ$#ÿ ÿÿ ÿ(00ÿ)

ÿ



ÿ ÿÿ1'ÿ#  

ÿ

ÿÿ  #ÿÿ#  ÿ

ÿ



ÿ 
` /ÿ1'ÿ+

ÿ ÿ

  

`1

 ÿ ÿ' & ÿ ÿ'  
`9:9,ÿ1'ÿ ÿ   ÿ ÿ
`Y9,ÿ   ÿu ÿ ÿ
`ÿ !' &

;=
`; #ÿ

0ÿ1<ÿÿ=
`3543i
`,
`9
`S
`743ÿ
`27436
`
`274[6
`[43il45i
`274Z6
`5
`]^_`aÿbcÿd_`eafÿ2ghÿi6
`j[4Z
`j[4l
`jk4k
`j[45
`nbf_opnqrsgt_`affar
`F@~Bv
`}DI?~@yz
`J@AvwDADxGyzIDy
`d€ÿpnqr
`{|J
`548
`548
`548
`54k
`j54m
`j54j
`j54m
`jl45
`;=ÿ)

ÿTUÿ  &

ÿ% ÿ !V(

ÿ ÿ
`ÿÿ&ÿ 

ÿ ÿ %ÿ ÿ*
` ÿS,ÿ9:9,0ÿ$

ÿ ÿ(00
`. /ÿ)

ÿ



ÿ ÿ

ÿÿ  #ÿÿ ÿ  ÿ

ÿ



ÿ ÿ ÿ#  

ÿÿV(

0ÿ$#ÿ ÿÿ ÿ(00ÿWÿX
` 

Yÿ$ ÿX1'ÿV(

Yÿÿ#  

ÿ
`,T
` /ÿ1'ÿ+

ÿ ÿ

  

`
`,-
`
`

`

`Case 1:20-cv-00393-LMB-WEF Document 1425-3 Filed 09/09/22 Page 10 of 29 PageID#
`36913
`
` 

ÿ@ SRÿQ G T DEUÿV

OD ÿV TDG ÿW E

 DE


`  ÿ ÿ



 
`
`
`
` !"ÿ$!%ÿ&'(ÿ %!ÿ0ÿ) %($ÿ 3!ÿ(6ÿ
`
`*(0)!%(04 5ÿ
`
` !"ÿ$!%ÿ&'(ÿ' )!ÿ&*'!"ÿ(ÿ+,-.ÿ
`
` 0"(11!"ÿ(2034 5ÿ
`XXXXXXXXX
`78
`7=8989
`89:;7<7:
`7<7:787=7<
`898:
` ÿÿ? ÿ@

AÿB ÿC BDEDD E
`? FG HÿIJKÿLDE EGD 

ÿ ÿ

DM 

Nÿ F

ÿO E 

ÿ ECÿIJKÿJ P ÿQ

GR
`YÿQ UD EHÿ? EUÿEC ADEUÿZÿ@ SR
`40ÿjkk(0ÿ$05       
`_]_^_]=^`]<^
`abcÿd(e
`_]`^
`=];^=];^=];^_]9^
`g"hÿied4 5
`7:787=7<7:787=7<
`8989
`898:
` ÿÿY[GFCDEUÿR ÿ

DM  CÿDMO Gÿ Bÿ C ÿDET E AÿM T M E

`\  HÿJ P ÿ

R  ÿB ÿZ

ÿD

ÿC BDE Cÿ

ÿR ÿ  ÿ



ÿT FM ÿB ÿZ

ÿ

ÿ ÿO G E U ÿ BÿR ÿ  ÿ
`
`

DM  Cÿ



ÿT FM ÿB ÿGDU  

ÿ ECÿZ

`? FG HÿIJKÿLDE EGD 

ÿ ÿ

DM 

`:f
`
`:>
`
`

`

`Case 1:20-cv-00393-LMB-WEF Document 1425-3 Filed 09/09/22 Page 11 of 29 PageID#
`36914
`
`   ÿ

ÿ 

ÿÿÿÿ
`ÿ=>?ÿ@AA+ÿÿB%Cÿ ) 
`EFGHIJÿLM5ÿNO
`345677
`395977385;77
`3;5477
`385977385:773854773;5877
`345D77
`385677
`3<5677
`385477
`3P5877
`385P77
`3<5977
`
` !"#!$"%!"&!"'!("'!("!&"%!$"(!)"(!&"'!&" !(" !#" &!&"#$!&"
`** + ,-*.  / 01-2  .*, 
`
`ÿÿÿ ÿ 
` ÿÿ  ÿÿ
`
`ÿÿ2ÿÿQ1Cÿ>  ÿ  ÿ
`bXdÿeXffXgdÿVdXhWcl^ll^mn^on^pq^rq^nq^sq^s
`o^ws^os^ls^ps^wl^xl^xl^x
`UVWWXYÿtuvÿag`
`iiÿUjkXgdÿ
`(!&"(!)"&!'"$! "$!$"$!#"(!'"'!)"
`[\]^ÿ_`abYc
`UVWWXYÿ
`[\]^ÿ_`abYc
`bXdÿeXffXgdÿVdXhWc
`BB B#B%BB B#B%
` ) 
` ) )
`ÿÿR * ÿÿ*ÿ ÿAÿ*ÿS

ÿSÿ
`Tÿ+ÿÿAÿ=>?ÿÿ*A*ÿÿÿ ÿ ÿS ÿAÿ
`=>?ÿÿÿ  ÿAÿÿ ÿ*ÿ ÿS ÿAÿ
`  ÿ*ÿ=>?
` ÿÿ  ÿÿ
` )
`
`

`

`Case 1:20-cv-00393-LMB-WEF Document 1425-3 Filed 09/09/22 Page 12 of 29 PageID#
`36915
`
`

`

`)  -<;;1 / ÿ
`
`Case 1:20-cv-00393-LMB-WEF Document 1425-3 Filed 09/09/22 Page 13 of 29 PageID#
`36916
`
`8ÿ)
`/ÿÿ.
`#ÿÿ1 / ÿ

"ÿ9
`* -D<1 / ÿ
`

"ÿ9
`1 / ÿ
`8ÿ#
`#-F;5ÿ6ÿ1&& '
`5 
`# :;<=ÿ?@A?BA
`:;<Cÿ?DA
`7 && 
`:;<Eÿ?<FA
`:;<Dÿ?<@A
`:;<@ÿ?EA
`:;:;ÿ?<:A
`(
` ÿ1 / 
`:;:<ÿ?=A
` ÿÿ ÿ ÿ
` 

ÿÿ
`

ÿÿÿ
` ÿ   ÿ 
`ÿÿÿ ÿ  

 ÿ ÿ  ÿÿ  !ÿÿÿ
` "ÿ  

 ÿ ÿ  ÿÿ# ÿ$!!ÿÿ ÿ%  ÿ

ÿ &ÿ
`  ' &'
`& ÿ & ÿ% &ÿ

"ÿ# ÿ(   ÿ) & ÿ*ÿ 
` ÿ+ 

ÿ,ÿ
`+ -ÿ. 
`ÿ / ÿ# ÿ01(ÿ/ ' ÿ% &
`ÿ  

 ÿÿ/ "ÿ
` ÿ ÿ & !ÿ(
`& ÿ ' % ÿ 
`#ÿÿ &ÿ &ÿ23ÿÿ% &
`ÿÿ+  "ÿ &ÿ(
`  &!ÿ. 
`ÿ
`&  ÿÿ ÿ  %#
`ÿ 4% ÿ

"&ÿ%ÿ 
`#ÿ
`"!ÿ)# ÿ

ÿÿ / ÿ
`& ÿ(   ÿ"ÿ !ÿ5ÿ6ÿ1&& '(
` ÿ / ÿ&  &ÿÿ7 &ÿ /ÿ
`
`
` 
` ÿ# ÿ  

 !ÿ0   ÿÿ
`& &ÿ ÿ ÿ5ÿ6ÿ1&& '(
` ÿ / 
`%

ÿ. ÿÿÿHIJKÿÿL % 
`L % ÿ8 / ÿ# 
`M8 ÿNÿÿHIJK ÿ ÿ 
` ÿ &ÿ ÿNÿÿ ÿ 
`ÿÿHIJK
`opbaqÿrstÿ
`MO
` ÿ

ÿÿ
` ÿ  
`_ouÿ?::g@hA
` ÿ% & -
`N9NN9NN
`PQ "ÿ% ÿ &

`/ÿÿ 

"ÿÿ
`XYZ[\]Z]ÿ
` &ÿ ÿ
` 
`_`abcbdefcÿ
`PR# ÿ  ÿ &ÿ 4
` ÿ
`MSTUTK# ÿ  ' ÿ 
`#ÿÿ#
`?=g@hAijkjlÿ?@g;hAmjjinÿ?Cg;hA
`/ ' ÿ
`   "ÿ#ÿVNÿ /
`# ÿÿÿ#
`M ÿ
`   "ÿ #ÿ%'8
`

`% 
` ÿ
`  ÿ#ÿ% ÿ% &
`
`2
` %
`8
`+
`
`
`L
` ÿÿ  &ÿÿÿ*' ÿ*# ÿ / !ÿ  ÿ
`& ÿ
`  ÿ
` ÿ &ÿ..0!ÿ  ÿÿL  "ÿÿÿ
`+ -ÿ+ ÿ ÿ ÿ  ÿ5  ÿ2 ÿ/ ÿ ÿ5  ÿ2 ÿ+
` ÿ$ 
`W
`
` -ÿ01(ÿ 
` ÿ ÿ   
`
`

`

`Case 1:20-cv-00393-LMB-WEF Document 1425-3 Filed 09/09/22 Page 14 of 29 PageID#
`36917
`
`    ÿ
` 
`ÿ

ÿ ÿ ÿÿ 
`  
` 
`  ÿ 
`ÿ ÿ

ÿ
`
` 
`4<4+ÿ 
`  ÿ123ÿ

/
`  ÿ
` ÿ! ÿ  ÿ"

#  
` $!%!!  
` ÿ

 ÿ !&$
`

ÿ 
`>=A?
`$'  ÿ

ÿ 
`ÿ$ 
`()*) 

$ÿ+,-ÿ

ÿ./0ÿ123ÿ  
`@=<?
`! ÿ $!
`5=>?
`5=5?
`-?
`/ 
`9$
` '
`: !
`"

` 6ÿ7 
`ÿ '  
`ÿ  ÿ

ÿ 
`ÿÿ
` ÿ


`ÿ

ÿ/ !8ÿ9$ 8ÿ '
`  ÿ ÿ: !  
`

$! 6ÿ./0ÿ; ! ÿ

ÿ 
`
` 
`B!
`ÿC $!ÿ. ÿ

ÿ  ÿD
` ÿ1E0

#
`


`
`

ÿ'

` 
` ÿ!

 ÿÿ9 ' ÿ 
` 
`  
`. ÿ
`

ÿ $  ÿ

ÿ

$
`ÿ
`

ÿ

 ÿ 
`ÿ
`
` 8ÿ


` ÿÿ14
`7

F 
` ! ÿ
`ÿ  ÿ'

$!
`ÿ

 
`'


`



ÿGÿ   ÿ  
`
`


`!ÿ''  ÿ

ÿ

#
`

ÿ

ÿ #! ÿ 
`!

$  ÿ !

ÿ1E
` !



 6
`H ÿ ÿIJÿKLMNOLPQ
`H JÿR
`H H" ÿ!

'  
`  ÿ
` !



 ÿ

ÿ

ÿGÿ F
`!

 ÿ 
`
`123ÿ'


`



ÿ ' 


`
`45
`
`4@
`
`

`

`Case 1:20-cv-00393-LMB-WEF Document 1425-3 Filed 09/09/22 Page 15 of 29 PageID#
`36918
`
`

`

`Case 1:20-cv-00393-LMB-WEF Document 1425-3 Filed 09/09/22 Page 16 of 29 PageID#
`36919
`
`   ÿ ÿ
`
` ÿÿ

`  ÿÿ  ÿ
`12J4KÿL3 L&  $ÿ:   ÿ
`
` ÿ
`ÿ 
` ÿ
` ÿ
`  ÿ    !
`"# ÿ
`ÿ ÿ  $ÿ
` $ÿ  %
` 
`
`ÿA@B@ÿ
`
`
`"&
`  ÿ'(ÿ  $ÿ ) 
`*  
`$ ÿ   ÿÿ   ÿ% ÿ 
` )  !
`<=>
`?@>
`MNOPQÿIQRSTUNÿ
`DEFÿGÿDHI
`VTWWXYZÿERY[XN\P]ÿ
`"+ ÿÿ,  -ÿ  ÿÿ./0ÿÿ12ÿ ÿ
`^ÿMNOPQ]
`   
`3  ÿ   ÿ ÿ4544ÿÿ ÿ%
`
` 6 ÿÿ  
`ÿ   ÿÿÿ 
`
`  ÿ ÿ4.ÿ$ ÿ ÿ%$ÿ   
`+ !ÿÿ&7(3ÿ ÿÿ&  ÿ7 
` ÿÿ(   ÿ3 8  9ÿ+:ÿ   ÿ; ÿ   ÿÿ ÿ+&'ÿ   ÿ  ÿ ÿ
`# !ÿ'(ÿ 
`ÿÿ   ÿ
`4/
`  ÿÿ ÿ#  %
` ÿ
`_`O[`U\`aÿ[WWQR[UOÿNRÿ]T]N[\`[b\X\NYc
`+ ÿ  %
`$ÿ  
`$ÿ   ÿ
`  dÿ 
`ÿÿ% ÿ
`%
` ÿ )ÿ ;ÿ ÿ ÿ   ÿ 
`#   ÿ
` ;ÿÿ )  ÿ   ÿÿ ÿ
`#  %
`$ÿ  )ÿ%  ÿ ÿ  
`$
` 
` ÿ ÿ7ÿe ÿ#  %
`$ÿ  )ÿ,7e#-ÿ+ÿ6  ÿÿ
`  ÿ$ ÿ ÿ 
` ÿ ÿÿ  %
`$ÿ$ %;dÿ
` ÿ
` 
`_`f\QR`gP`N[Xÿ\gW[UNc
`&7'ÿh
` ÿ6Jÿ   ÿÿ
`  ÿ  dÿ ÿ ÿ  ÿ
` $ÿÿ&7'ÿ
` ÿ    ÿ
`  
`VRU\[Xÿ\gW[UNc
`'%
`  ÿÿ6
`
`ÿ %ÿ'  ÿ,6'-ÿ ÿÿ ;ÿK5ÿ
`$ ÿÿ
`  ÿ6'ÿ 
` 
` ÿ ÿ
`% ÿ  i 
`$ÿ  )ÿÿ  ÿ$ 
`IQRSTUNÿ\gW[UNcÿ
` ÿ   ÿÿ;  ÿÿÿ 
`   ÿ ÿ ÿÿ
`; 
`&   ÿ ÿ 
` $ÿ 
` ÿ  8 ÿ ÿ
`  ÿ  
`ÿÿ;  ÿ
`
`.5
`
`

`

`Case 1:20-cv-00393-LMB-WEF Document 1425-3 Filed 09/09/22 Page 17 of 29 PageID#
`36920
`
`

`

`Case 1:20-cv-00393-LMB-WEF Document 1425-3 Filed 09/09/22 Page 18 of 29 PageID#
`36921
`
` ÿ
`

 ÿ

ÿ
`
`

ÿ 
` 

ÿ ÿ
`

ÿÿ ÿ ÿ

ÿ ÿ
` !! "ÿ


` ##

ÿÿ$
` %ÿ&

 
`
`
`
`

`

`Case 1:20-cv-00393-LMB-WEF Document 1425-3 Filed 09/09/22 Page 19 of 29 PageID#
`36922
`
`  ÿ
`  ÿ 

ÿ
`  ÿ
`  ÿ 

ÿ'
`(
`
`      
` 
`
` 
`
`   

 
` 

        
`
` 
`       
` !
` "#"$$#% % %
`   & 
`'& ()
` 

 


` 
`
` 
`
`
`
`   
` * %+),-
` '  

 (
` .

 
` 

  

/  
`  %  
` !
`  %    
`  
` 

  

` 


`

    


`    
`
`  
`
` 0  
`  
` 
`
`

  
`  % %   
`  
` 

- 
` !) 
` 
`

 
`

     

 -/  
`    


`

 
` 
` 
` - 
`
`  
`


` 
` 
` 
`  -     1 0  .
`
`21   
`
` "$"$
`"$"3 

  
`  


`

   
` 
`     


` 
`   
`
`
` 
`
`

/   
`
`
` 4  
`    

  //%
`
`

 //%
`    
`  
`
`
`
`    / 
`
` .

      

     
`4


` 
` 
`/

   )  
`      
`
`  
`
`
`

 
` 
`


`  

` 

  
`   


`    

` 


`  
` 

` 

` 5 %
` 6 
` 5 
`

&2)4
`
`7    4  
` 6 
`"$"38 
`  
`  4       

    
` 

`
`
` 089   : .
`
`  0


` 8
` 
`;9  
`
`  .


` :.  &
`

`&'..&&( .
`
`   % 

 .
`
` 
`     %
`
`
`  
` 
` 
`
`<=
`
` ,!  
`   , 
`!
`
`0 
`
`
` ,,  
`   ,  
`, 0 
`
`
` ,;&  
`    , ;&0 
`
`
`  1   
`
`
` );)&  
`   );)  & 0 
`
`
` ,&;&  
`   , & ;&  0 
`
`
` >&.)?  
`   &

 0 
`    

@
`&

;.
` 

`%% 
`

  &


` 

`  6 "$"30  
` &

 


` 
` 
` 
`  -   !)
` 5 %
`  
`  
`1 .
`
`  0


` 8
` 
`;9  
`'089(% 
`
`    


`
`  089%      

%
`  
`  ABBCDEFGHIJKLKMNOPPKQ
`ROOSHOM
` 5





: 

` 

 T  

 
`
`



` 
` 

  
` 2

 
` 

 T  


`
`