Filed by Encana Corporation

Pursuant to Rule 425 under the Securities Act of 1933

and deemed filed pursuant to Rule 14a-12

under the Securities Exchange Act of 1934

Subject Company: Newfield Exploration Company

(Commission File No. 001-12534)

This filing consists of a transcript of a presentation discussing the proposed business combination between Encana Corporation (“Encana”) and Newfield Exploration Company and Encana’s third quarter 2018 results.

Important Information for Investors and Shareholders

This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law.

In connection with the proposed transaction between Encana and Newfield, Encana will file with the U.S. Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4 that is expected to include a Joint Proxy Statement of Encana and Newfield that will also constitute a Prospectus of Encana (the “Joint Proxy Statement/Prospectus”). Encana and Newfield plan to mail to their respective shareholders the definitive Joint Proxy Statement/Prospectus in connection with the transaction. INVESTORS AND SECURITY HOLDERS OF ENCANA AND NEWFIELD ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ENCANA, NEWFIELD, THE TRANSACTION AND RELATED MATTERS. Investors and security holders will be able to obtain free copies of the Joint Proxy Statement/Prospectus (when available) and other documents filed with the SEC by Encana and Newfield through the website maintained by the SEC at www.sec.gov. Investors will also be able to obtain free copies of the Joint Proxy Statement/Prospectus (when available) and other documents filed with Canadian securities regulatory authorities by Encana, through the website maintained by the Canadian Securities Administrators at www.sedar.com. In addition, investors and security holders will be able to obtain free copies of the documents filed with the SEC and Canadian securities regulatory authorities on Encana’s website at www.encana.com or by contacting Encana’s Corporate Secretary. Copies of the documents filed with the SEC by Newfield will be available free of charge on Newfield’s website or by contacting investor relations.

Participants in the Merger Solicitation

Encana, Newfield and certain of their respective directors, executive officers and employees may be considered participants in the solicitation of proxies in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the shareholders of Encana and the stockholders of Newfield in connection with the transaction, including a description of their respective direct or indirect interests, by security holdings or otherwise, will be included in the Joint Proxy Statement/Prospectus described above when it is filed with the SEC and Canadian securities regulatory authorities. Additional information regarding Encana’s directors and executive officers is also included in Encana’s Notice of Annual Meeting of Shareholders and 2018 Proxy Statement, which was filed with the SEC and Canadian securities regulatory authorities on March 23, 2018, and information regarding Newfield’s directors and executive officers is also included in Newfield’s 2018 Proxy Statement, which was filed with the SEC on March 29, 2018. These documents are available free of charge as described above.

ADVISORY REGARDING FORWARD-LOOKING STATEMENTS - This communication contains certain forward-looking statements or information (collectively, “FLS”) within the meaning of applicable securities legislation, including the United States Private Securities Litigation Reform Act of 1995. FLS include: becoming a leading multi-basin company; timing of closing of the transaction; the expectation that the closing conditions, including shareholder approvals and regulatory approvals, will be satisfied; anticipated benefits from the transaction; Encana’s intent to raise its dividend and increase its share buyback following closing; Encana’s position relative to peers; anticipated production and commodity mix; anticipated 2019 net debt to EBITDA; anticipated synergies; expectation that the transaction is accretive to all metrics in Encana’s five-year plan; number of risked well locations and unrisked resource; and benefits of a multi-basin portfolio. Readers are cautioned against unduly relying on FLS which, by their nature, involve numerous assumptions, risks and uncertainties that may cause such statements not to occur, or results to differ materially from those expressed or implied. These assumptions include: assumptions contained in Encana’s corporate guidance and five-year plan; ability to satisfy closing conditions, regulatory and shareholder approvals; future commodity prices and differentials; data contained in key modeling statistics; effectiveness of Encana’s drive to productivity and efficiencies; results from innovations; enforceability of transaction agreements; and expectations and projections made in light of, and generally consistent with, Encana’s historical experience and its perception of historical trends, including with respect to the pace of technological development, benefits achieved and general industry expectations. Risks and uncertainties that may affect these business outcomes include: integration of Encana and Newfield and the ability to recognize the anticipated benefits from the combination of Encana and Newfield ability to obtain required shareholder and regulatory approvals for the transaction, timing thereof and risk that such regulatory approvals may result in the imposition of conditions that could adversely affect the expected benefits of the transaction; risk that the conditions to the transaction are not satisfied on a timely basis or at all and the failure of the transaction to close for any other reason; risks relating to the value of the Encana common shares to be issued in connection with the transaction; disruption to Encana’s and Newfield’s respective businesses that could result from the announcement of the transaction; variability and discretion of Encana’s board of directors to declare and pay dividends, if any; variability in the amount, number of shares and timing of purchases, if any, pursuant to the share repurchase program; commodity price volatility; counterparty and credit risk; impact of a downgrade in a credit rating, including to refinance debt required to be repaid because of a downgrade, and its impact on access to sources of liquidity; risks inherent in Encana’s corporate guidance and five-year plan; failure to achieve cost and efficiency initiatives; and other risks and uncertainties impacting Encana’s business, as described in its most recent Annual Report on Form 10-K and as described from time to time in Encana’s other periodic filings as filed on SEDAR and EDGAR. Although Encana believes the expectations represented by such FLS are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned that the assumptions, risks and uncertainties referenced above are not exhaustive. FLS are made as of the date of this news release and, except as required by law, Encana undertakes no obligation to update publicly or revise any FLS. FLS contained in this news release are expressly qualified by these cautionary statements.

				Raw Transcript

01-Nov-2018

Encana Corp. (ECA)

Q3 2018 Earnings Call

1-877-FACTSET www.callstreet.com		Copyright © 2001-2018 FactSet CallStreet, LLC

Encana Corp. (ECA) Q3 2018 Earnings Call				Raw Transcript 01-Nov-2018

CORPORATE PARTICIPANTS

MANAGEMENT DISCUSSION SECTION

Operator: Good day, ladies and gentlemen, and thank you for standing by. Welcome to Encana Corporation’s Third Quarter Results Conference Call. As a reminder today’s call is being recorded. At this time all participants are in a listen-only mode. Following the presentation we will conduct a question-and-answer session. [Operator Instructions] For members of the media in attending in a listen-only mode today, you may quote statements made by any of the Encana representatives. However members of the media who wish to quote others who are speaking on this call today, we advise you to contact those individuals directly to obtain their consent. Please be advised that this conference call may be recorded or rebroadcast without the express consent of Encana Corporation. I would now like to turn the conference call over to Corey Code, Vice President of Investor Relations. Please go ahead, Mr. Code.

Corey D. Code

Vice President, Investor Relations, Encana Corp.

Thank you, operator, and welcome, everyone, to our conference call to discuss our strategic combination with Newfield and our third quarter results. This call is being webcast and the slides are available on our website at Encana.com. Before we get started, please take note of the advisory regarding forward-looking statements in the news release and at the end of our webcast slides. Further advisory information is contained in our annual report and other disclosure documents filed on CDAR and EDGAR. I also with to highlight that Encana prepares its financial statement in accordance with U.S. GAAP and reports its financial results in U.S. dollars, so references to dollars mean U.S. dollars, and the reserves, resources, and production information are after royalties unless otherwise noted.

I will now turn the call over to Doug Suttles, Encana’s President and CEO, to explain why we think this is such a great transaction for Encana. We will then open the call up for Q&As.

Douglas James Suttles

President, Chief Executive Officer & Director, Encana Corp.

Thanks, Corey. We are excited to talk to you today about the strategic combination between Encana and Newfield. This transaction creates a leading North American unconventional company. It is consistent with our multi-basin strategy focused on the best parts of the best basins and is accretive to our plan. The STACK and SCOOP adds a third material, high-quality asset to our compliment of high-quality positions in the Permian and the Montney. Our confident in the combined entity enables us to commit to an increased return of capital to shareholders. Post closing we plan to increase our dividend by 25% and upsize our share buyback from $400 million to $1.5 billion for 2019.

		2
1-877-FACTSET www.callstreet.com		Copyright © 2001-2018 FactSet CallStreet, LLC

Encana Corp. (ECA) Q3 2018 Earnings Call				Raw Transcript 01-Nov-2018

The combination of Encana’s and Newfield’s assets creates North America’s number two largest unconventional company. On a combined basis we see significant opportunities for efficiencies and synergies. We expect to apply our multi-basin model, deploying rapid learning and innovation, to further drive efficiencies in the STACK and SCOOP. The strong liquids production from Newfield further builds on our focus to grow liquids. Our balance sheet gets even stronger, and our increased scale will benefit all of our assets and our corporate returns.

Over the past five years since our strategy launch, we have transformed Encana to a company focused on generating quality returns. Last year we outlined a compelling five-year plan that showed considerable cash flow growth, improved returns, and balance sheet strength. This transaction is consistent with our multi-basin strategy and accretive to that plan. Following the close of this transaction, we plan to accelerate return of capital to shareholders through an expanded buyback program of $1.5 billion as well the 25% increase to our dividend.

The combined company improves our multi-basin advantage. Being a multi-basin company means that we have flexible and dynamic capital allocation, rapid learning transfer across our plays, and continuous innovation and improvement. Our cube approach looks to maximize the value of our acreage, and we are excited to deploy these learnings in the STACK and SCOOP. We are confident we can generate significant improvements in cycle time, reduce cost, and improve resource recovery through advanced coalitions, just like we have accomplished in our other assets. This combination unlocks clear and achievable synergies in both G&A costs and through cube development of scale. The balance sheet becomes bigger and remains strong. This transaction is accretive to our five-year plan and enhances our liquids mix.

We know that being in the best rocks is critical to long-term success, and this philosophy is one of the core elements of our strategy. A third-party evaluation of half-cycle breakevens demonstrates the low cost and competitive nature of our plays. The STACK/SCOOP clearly competes with the other assets in Encana’s portfolio with half-cycle breakevens in the mid to high $30 range. Today’s announcement further supports our strategy of positioning ourselves in the core of North America’s premier unconventional plays. Approximately 80% of our combined production will come from some of the best, large scale, low cost basins, the Permian, STACK/SCOOP, and Montney. Our large contiguous acreage positions in each of these basins allows us to apply the cube to develop efficiently at scale.

The STACK/SCOOP is a world class resource. The Newfield position contains an estimated 3 billion barrels of oil equivalent of net [indiscernible] resource in place. This large contiguous acreage position in the STACK/SCOOP encompasses the best parts of the play. The Newfield position includes approximately 360,000 net acres, and 6,000 gross risk locations. In the third quarter production from the asset was 144,000 barrels of oil equivalent per day, and 60% of that production was high-value liquids.

In the stack the acreage is focused in the southwest part of Kingfisher County. We view this as the sweet spot of the play as it combines some of the thickest, highest quality reservoir with the high value fluids in the oil window. To this point, development in the stack has been primarily focused on one and two oil pads for delineation and land retention. The play’s in the early innings of full field development, with only a handful of pilots testing full scale spacing and stacking configurations. This is where Encana’s expertise with the cube will add value by delivering commercial, full field development at scale.

The STACK/SCOOP lends itself to cube development. The reservoir’s thick and laterally extensive. With reservoir thickness up to 650 feet in the core of the stack, we see at least two to four target benches across the position. The majority of the lands are in the high-value oil window. In the STACK the [indiscernible] is the primary target, with additional stack potential in the underlying can [ph] of Woodford. In the scoop, the Woodford shale is the primary target, with additional upside in the springer. The reservoir is over pressured, which enhances well productivity. In the core of the play we see initial well rights of 1,000 to 3,000 barrels a day. This strong deliverability competes with the best wells in North America.

		3
1-877-FACTSET www.callstreet.com		Copyright © 2001-2018 FactSet CallStreet, LLC

Encana Corp. (ECA) Q3 2018 Earnings Call				Raw Transcript 01-Nov-2018

The combination of the Encana and Newfield positions delivers immediate scale by creating the second largest producer of unconventional resources in North America. The multibasin portfolio provides a powerful competitive advantage, helping to manage risk, providing optionality to direct our capital to the highest margin opportunities, and transfer learnings across the business. With this transaction, growth at Encana will be anchored by large, premium positions in the oil and liquids weighted Permian, STACK/SCOOP, and Montney. The Eagle Ford, Willesden, and Duvernay will further support value by generating significant free operating cash flow.

Our cube development approach is the next phase of commercial development in the STACK/SCOOP. We have established a track record of deploying cube development to enhance efficiencies, reduce cycle times, and improve well returns. Our larger pad sizes and deployment of multiple drilling rigs in multiple completion crews keep cycle times short and delivers economy of scale that reduce per-well cost. Through our integrated supply chain strategy, we work to optimize the supply chain, self-sourcing sand, water, and chemicals. Combining this with our relentless focus on efficiency, we expect to capture significant savings of approximately $1 million per well or $125 million per year.

At Encana we are proud of our culture of innovation that we have throughout our organization. Across our plays we have consistently demonstrated improving operating performance. When we entered the Permian in 2014, drill times were approximately 25 days per well. Today we drill considerably longer laterals in about 12 days. This improvement didn’t happen by accident. Across our operations we are continually testing and adopting new technologies, sharing learnings across our multi-basin portfolio, and using a data-driven approach to optimize everything from drilling parameters, to compressor set points, to reservoir targeting. We intend to bring the same technical rigor and culture of innovation to drive performance in the STACK.

Over the last two years our asset teams have been working to optimize our completion designs. Across all of our plays we have seen repeatable success by pumping fine-grained proppants in clean fluids with tight cluster spacing. We believe this combination keeps frac energy close to the wellbore, where it generates the most complex fracture networks. This has resulted in significant production uplift across our portfolio. We expect the application of advanced completions in the STACK/SCOOP will add further upside to the play. We expect about 30% of the improvement will come from reduced cycle times, through improved drilling performance, fewer rig moves, and the application of our sophisticated planning and logistics processes. An additional 30% of the savings will stem from the efficiencies associated with multiwell [ph] pad drilling.

Shared services, economy of scale, and the rapid transfer of learnings will drive these improvements. We see further opportunities to reduce well costs through our supply chain management team. Our self-source commodities, including sand, water, chemicals, and innovative arrangements with our service providers will help to drive another 20% reduction in cost. Finally the upside associated with advanced completions will add an additional 10% efficiencies. Beyond he synergies associated with cube development we expect to capture an additional $125 million of efficiencies through reduced G&A. In total, we expect this transaction to deliver about $250 million of annual synergies. A compelling $1 billion in savings over the next four years. We intend to hit our projected run rate synergies in the second half of 2019. We are confident in our ability to deliver these synergies. I’ll now turn the call over the Sherry who will briefly touch on the debt and credit implications of this transaction.

		4
1-877-FACTSET www.callstreet.com		Copyright © 2001-2018 FactSet CallStreet, LLC

Encana Corp. (ECA) Q3 2018 Earnings Call				Raw Transcript 01-Nov-2018

Sherri A. Brillon

Chief Financial Officer and Executive Vice President

Thank you, Doug. The transaction is credit positive with additional scale in production and reserves and is aligned with our leveraged target. We expect that our leverage will continue to be on track with mid-cycle leverage targets as we expect our net debt to adjust EBITA to be at approximately 1.5 times at year-end 2019. The increase in our planned return of capital to shareholders to-date is a strong message about our commitment to shareholder returns, disciplined capital allocation, and the confidence in the combined business. We are expecting that this additional dividend and share buyback will be completed with cash on hand as well as on-going free cash flow from a strong business.

Maintaining a strong balance sheet and favorable liquidity position enable us to weather price volatility and deliver competitive corporate returns across the business cycle. Our pro forma debt has a well disbursed maturity profile that has a weighted average term of about 10 years. We will also continue to have significantly liquidities with access to $4 billion on our existing undrawn credit facility. I’ll turn the call back to Doug.

Douglas James Suttles

President, Chief Executive Officer & Director, Encana Corp.

Thanks, Sherri. This acquisition aligns with Encana’s core competencies and resource identification, operational excellence, capital allocation, and market fundamentals. We believe these core competencies are what gives us a competitive advantage and they will enable us to maximize the value of the acquired assets. We believe there is real value in having a focused multi-basin portfolio. Having multiple core positions gives us a tremendous advantage when it comes to managing risks related to market access and infrastructure. It gives us enormous flexibility and the opportunity to redirect capital as required. Innovating quickly and scale success across multiple plays. We have established a strong track record as an operator who excels at execution at scale. Our cube development approach and our advanced completion designs bring together learnings from across our diverse asset base and will add significant value to the development of this fantastic asset base. I often talk about the importance of being in the best rocks and how important this is to sustainable success. This acquisition is the direct outcome of our detailed technical analysis of the Anadarko Basin and our belief that the acreage assembled by the Newfield team is in the very heart of this prolific oil play.

The great thing about being in the core of the best plays is that they improve over time. We expect the same outcome from the stack and the scoot. Our focus on market fundamentals enables us to maximize our realized prices, enhance our margins, and manage market risk. Our view of market fundamentals informed and supported our decision to enter the Anadarko Basin. Its close proximity to liquids markets hubs contributes to higher net backs and reduces market risk.

While today is an exciting day to discuss the transaction with Newfield, we also want to point out just how well our underlying business is performing, both operationally and financially. We are executing on our 2018 plan, delivering efficient growth, strong financial results, and growing oil and condensate production through the second half of the year. Our third quarter performance builds on our track record of consistent delivery.

We expect to deliver approximately 30% year-over-year production growth and to generate free cash flow in 2018 one year earlier than planned. Our cash flow continues to grow through a combination of increased liquids mix, our focus on driving efficiency, and our approach to maximizing realized prices. This means that higher commodity prices translate into higher margins, not higher cost. At $16.93 per BOE, our third quarter cash flow margin was up over 60% compared to the same period one year ago.

We are an operator that excels at execution at scale. Our liquids volumes grew an impressive 15% in the quarter and are continuing to grow in the fourth quarter. Our cube development approach is yielding strong results in the Permian where production was 99,000 barrels oil equivalent per day in the third quarter and is on track to average over 100,000 barrels a day in the fourth quarter. We are also very pleased with our cubes in the Montney where liquids production grew 23% during the quarter and remains on track to average between 55,000 and 65,000 barrels a day in the fourth quarter. We are currently producing about 55,000 barrels a day of liquids in the Montney.

		5
1-877-FACTSET www.callstreet.com		Copyright © 2001-2018 FactSet CallStreet, LLC

Encana Corp. (ECA) Q3 2018 Earnings Call				Raw Transcript 01-Nov-2018

The Pipestone Liquids Hub came on late in the third quarter ahead of schedule, providing further confidence in our ability to deliver on Q4 targets.

Our marketing strategy continues to enhance our margins. Once again the realized prices we received in the third quarter for our Permian oil and Canadian gas volumes were well in excess of the respective benchmark prices. The combination of firm physical transport and financial basis hedging gives us confidence in our ability to achieve our growth plans while maximizing our margins. Across the portfolio we are seeing the benefits of scale in our relentless focus on efficiency. Our third quarter per unit LOE and T&P expenses were both down significantly. We are carrying significant momentum into the year as we continue to grow liquids volumes and generate free cash flow.

I’ll now turn the call back over to Sherri who will discuss our financial results.

Sherri A. Brillon

Chief Financial Officer and Executive Vice President

Thanks, Doug. We are very pleased with our results year to date. Our disciplined focus on growing high value liquids production, maximizing realized prices, and driving efficiencies continues to expand our margins. At the time of our second quarter conference call, we increased our full year 2018 cash flow margin to $16 per BOE, up from our previous target of $14 per BOE. Our cash flow margin was $16.93 per BOE in Q3, giving us a high degree of confidence that we can deliver on that target. As Doug mentioned, we generated $66 million in free cash flow in the third quarter, and expect to generate additional free cash flow in the fourth quarter. With the strong performance that we’ve seen across the entire portfolio, we expect that each core asset will be free operating cash flow positive for the year.

Our balance sheet also remains in great shape. Our leverage ratio fell to 1.6 times at the end of the quarter. With the expected closing of our San Juan disposition by the end of the fourth quarter, we now expect to come in below our target of 1.5 times net debt to adjusted EBITDA by year-end. Solid operational performance across the portfolio and an increasingly oil and condensate-focused development program drove a 15% increase in liquids production this quarter. More than 75% of our liquids production was higher value oil and condensate. Our total company liquids mix also continues to improve. In the third quarter, liquids accounted for 47% of total production. A relentless focus on efficiency and greater scale is driving our per unit costs down. Compared to last quarter, our per unit operating cost and our T&P costs were down 10% and 9%, respectively. All of this contributes to margin expansion and cash flow growth.

We issued an update to our 2018 guidance this morning with a couple of minor adjustments. We now expect our full year transportation and processing cost to be about $25 million lower than our original guidance. As a result, we are lowering our T&P guidance range to 720 to 740 per BOE.

Operating and administrative costs are expected to fall within their respective guidance ranges. We are forecasting full year capital of $2 billion. This reflects $55 million of capital associated with divested assets, the San Juan and the Pipestone liquids hub. This capital will be recovered at divestiture proceeds. It also reflects higher diesel costs, steel tariff, and delays in local sand delivery in the Eagle Ford, which have been resolved.

		6
1-877-FACTSET www.callstreet.com		Copyright © 2001-2018 FactSet CallStreet, LLC

Encana Corp. (ECA) Q3 2018 Earnings Call				Raw Transcript 01-Nov-2018

We remain confident in our ability to achieve our 2018 plan, and we expect to finish the year strong, positioning us well for 2019. I’ll now turn the call back to Doug.

Douglas James Suttles

President, Chief Executive Officer & Director, Encana Corp.

Thanks, Sherri.

We have completed a very strong third quarter, and we’re well positioned to deliver on our 2018 objectives. Our 3Q results may be over shadowed by today’s excited announcement, but they should not be overlooked. This transaction is consistent with our strategy of being in the best rocks, and the best basins, our focus on growing liquids, and increasing return of capital to shareholders. Thanks for joining us on the call and we’d now be happy to take your questions.

Operator: [Operator Instructions] We will now begin the question-and-answer session and go to the first caller.

Your first question comes from Greg Pardy with RBC Capital Markets. Your line is open.

		7
1-877-FACTSET www.callstreet.com		Copyright © 2001-2018 FactSet CallStreet, LLC

Encana Corp. (ECA) Q3 2018 Earnings Call				Raw Transcript 01-Nov-2018

Disclaimer

The information herein is based on sources we believe to be reliable but is not guaranteed by us and does not purport to be a complete or error-free statement or summary of the available data. As such, we do not warrant, endorse or guarantee the completeness, accuracy, integrity, or timeliness of the information. You must evaluate, and bear all risks associated with, the use of any information provided hereunder, including any reliance on the accuracy, completeness, safety or usefulness of such information. This information is not intended to be used as the primary basis of investment decisions. It should not be construed as advice designed to meet the particular investment needs of any investor. This report is published solely for information purposes, and is not to be construed as financial or other advice or as an offer to sell or the solicitation of an offer to buy any security in any state where such an offer or solicitation would be illegal. Any information expressed herein on this date is subject to change without notice. Any opinions or assertions contained in this information do not represent the opinions or beliefs of FactSet CallStreet, LLC. FactSet CallStreet, LLC, or one or more of its employees, including the writer of this report, may have a position in any of the securities discussed herein.

THE INFORMATION PROVIDED TO YOU HEREUNDER IS PROVIDED “AS IS,” AND TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, FactSet CallStreet, LLC AND ITS LICENSORS, BUSINESS ASSOCIATES AND SUPPLIERS DISCLAIM ALL WARRANTIES WITH RESPECT TO THE SAME, EXPRESS, IMPLIED AND STATUTORY, INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ACCURACY, COMPLETENESS, AND NON-INFRINGEMENT. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, NEITHER FACTSET CALLSTREET, LLC NOR ITS OFFICERS, MEMBERS, DIRECTORS, PARTNERS, AFFILIATES, BUSINESS ASSOCIATES, LICENSORS OR SUPPLIERS WILL BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, INCLUDING WITHOUT LIMITATION DAMAGES FOR LOST PROFITS OR REVENUES, GOODWILL, WORK STOPPAGE, SECURITY BREACHES, VIRUSES, COMPUTER FAILURE OR MALFUNCTION, USE, DATA OR OTHER INTANGIBLE LOSSES OR COMMERCIAL DAMAGES, EVEN IF ANY OF SUCH PARTIES IS ADVISED OF THE POSSIBILITY OF SUCH LOSSES, ARISING UNDER OR IN CONNECTION WITH THE INFORMATION PROVIDED HEREIN OR ANY OTHER SUBJECT MATTER HEREOF.

The contents and appearance of this report are Copyrighted FactSet CallStreet, LLC 2018 CallStreet and FactSet CallStreet, LLC are trademarks and service marks of FactSet CallStreet, LLC. All other trademarks mentioned are trademarks of their respective companies. All rights reserved.

		21
1-877-FACTSET www.callstreet.com		Copyright © 2001-2018 FactSet CallStreet, LLC