<SEC-DOCUMENT>0001104659-23-065945.txt : 20230530
<SEC-HEADER>0001104659-23-065945.hdr.sgml : 20230530
<ACCEPTANCE-DATETIME>20230530152556
ACCESSION NUMBER:		0001104659-23-065945
CONFORMED SUBMISSION TYPE:	DFAN14A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20230530
DATE AS OF CHANGE:		20230530

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MASIMO CORP
		CENTRAL INDEX KEY:			0000937556
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845]
		IRS NUMBER:				330368882
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFAN14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33642
		FILM NUMBER:		23975791

	BUSINESS ADDRESS:	
		STREET 1:		52 DISCOVERY
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92618
		BUSINESS PHONE:		949-297-7000

	MAIL ADDRESS:	
		STREET 1:		52 DISCOVERY
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92618

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Politan Capital Management LP
		CENTRAL INDEX KEY:			0001885245
		IRS NUMBER:				871666292
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFAN14A

	BUSINESS ADDRESS:	
		STREET 1:		106 WEST 56TH STREET
		STREET 2:		10TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 756-2000

	MAIL ADDRESS:	
		STREET 1:		106 WEST 56TH STREET
		STREET 2:		10TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
</SEC-HEADER>
<DOCUMENT>
<TYPE>DFAN14A
<SEQUENCE>1
<FILENAME>tm2317242d3_dfan14a.htm
<DESCRIPTION>DFAN14A
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="border-top: Black 2pt solid; font-size: 1pt; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Rule&nbsp;14a-101)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Proxy Statement Pursuant to Section&nbsp;14(a)&nbsp;of</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>the Securities Exchange Act of 1934</B></P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed
by the Registrant </FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT> Filed by a Party other than the Registrant
<FONT STYLE="font-family: Wingdings">&#120;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check the appropriate
    box:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding-bottom: 5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preliminary
    Proxy Statement</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding-bottom: 5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Confidential,
    for Use of the Commission Only (as permitted by Rule&nbsp;14a-6(e)(2))</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding-bottom: 5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive
    Proxy Statement</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT></TD>
    <TD STYLE="padding-bottom: 5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive
    Additional Materials</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting material Pursuant
    to &sect;240.14a-12</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Masimo Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Name of Registrant as Specified In Its Charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POLITAN CAPITAL MANAGEMENT LP<BR>
POLITAN CAPITAL MANAGEMENT GP LLC<BR>
POLITAN CAPITAL PARTNERS GP LLC<BR>
POLITAN CAPITAL NY LLC<BR>
POLITAN INTERMEDIATE LTD.<BR>
POLITAN CAPITAL PARTNERS MASTER FUND LP<BR>
POLITAN CAPITAL PARTNERS LP<BR>
POLITAN CAPITAL OFFSHORE PARTNERS LP<BR>
QUENTIN KOFFEY<BR>
MATTHEW HALL<BR>
AARON KAPITO<BR>
MICHELLE BRENNAN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Name of Person(s)&nbsp;Filing Proxy Statement,
if other than the Registrant)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Payment of Filing Fee (Check the appropriate box):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No fee required.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee paid previously with
    preliminary materials.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee computed on table below
    per Exchange Act Rules&nbsp;14a-6(i)(4)&nbsp;and 0-11.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Politan Capital Management LP, a Delaware limited partnership (&ldquo;Politan&rdquo;),
together with the other participants named herein (collectively, the &ldquo;Participants&rdquo;), has filed a definitive proxy statement
and accompanying <B>BLUE</B> universal proxy card with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) to be used to solicit
votes for the election of its slate of highly-qualified director nominees at the 2023 annual meeting of stockholders of Masimo Corporation,
a Delaware corporation (the &ldquo;Company&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On May 30, 2023, Politan, together with the Participants, issued the
following press release (the &ldquo;Press Release&rdquo;) related to the Company, which Politan also simultaneously published to its website,
located at www.AdvanceMasimo.com (the &ldquo;Site&rdquo;). The Press Release contained a link to an investor presentation that Politan
previously filed with the SEC (the investor presentation, together with the Press Release, collectively, the &ldquo;Materials&rdquo;).
From time to time, Politan or its fellow Participants in the proxy solicitation may publish the Materials, or portions thereof, on its
Site relating to the Company and they may otherwise disseminate the Materials from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Politan Releases Investor Presentation Detailing
Why New Directors Are Needed on the Masimo Board and Responds to Company&rsquo;s Disingenuous Claims </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Highlights How Fresh Perspectives in the Boardroom
Can Help Fix Company&rsquo;s Broken Governance, Instill Disciplined Capital Allocation and Refocus Strategy</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Believes Masimo&rsquo;s Attempts to Mislead
Shareholders by Cherry Picking Performance Data and Making False Claims About Politan Are Consistent With Company&rsquo;s History of Avoiding
Accountability </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Encourages Shareholders to Support Change by
Voting for Both Politan Nominees Michelle Brennan and Quentin Koffey on the <U>BLUE</U> Card </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Visit www.AdvanceMasimo.com for Additional Information
</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">NEW YORK &ndash; May
30, 2023 &ndash; Politan Capital Management (together with its affiliates, &ldquo;Politan&rdquo;), a 9% shareholder of Masimo Corporation
(&ldquo;Masimo&rdquo; or the &ldquo;Company&rdquo;) (NASDAQ: MASI), today released a presentation highlighting why independent oversight
and greater accountability are urgently needed on the Masimo Board. Politan also responded to multiple false and misleading claims made
by the Company in its recent proxy materials and letter to shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">Shareholders can support
change by voting for Politan&rsquo;s two ideally qualified nominees &ndash; Michelle Brennan and Quentin Koffey &ndash; for election to
the Company&rsquo;s Board at Masimo&rsquo;s Annual Meeting of Stockholders (the &ldquo;Annual Meeting&rdquo;). The Annual Meeting is currently
scheduled for June 26, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">The full presentation
can be found <FONT STYLE="color: Black"><U>here</U></FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">Quentin Koffey, Managing
Partner and Chief Investment Officer of Politan, said, &ldquo;Masimo&rsquo;s broken corporate governance has resulted in a deeply discounted
valuation and an inability to profitably innovate and grow. Unfortunately, Masimo&rsquo;s Board fails to recognize that shareholder-driven
change is needed, as demonstrated by the Board&rsquo;s hostile approach to our engagement, misleading public statements and baseless attacks
against Politan. While this behavior is disappointing, it is not surprising given the Company&rsquo;s long history of avoiding accountability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">We believe that greater
oversight in the boardroom can help Masimo realize its full potential, and that our two nominees have the right experience and skillsets
to help. We look forward to continuing to make our case to our fellow shareholders in advance of the Annual Meeting.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">In its recent proxy
materials and letter to shareholders, Masimo makes a number of statements about its own performance and Politan&rsquo;s campaign that
Politan believes are disingenuous, false or both:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 44.5pt; text-align: justify; text-indent: -0.25in; background-color: #FEFEFE"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Masimo&rsquo;s cherry picking of dates and peers in an attempt to make its performance look better is &ldquo;good for a laugh and not
much else.&rdquo; </B>As one third-party analyst noted in response to Masimo&rsquo;s materials, &ldquo;<I>Today&rsquo;s letter takes &ldquo;cherry
picking&rdquo; to a new level&hellip;Team Masimo&rsquo;s plainly obvious attempt to cherry pick data to make the case that its relative
returns are unimpeachable...is good for a laugh and not much else</I>.&rdquo;<SUP>1</SUP></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 44.5pt; text-align: justify; background-color: #FEFEFE"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 44.5pt; text-align: justify; background-color: #FEFEFE">Masimo ended
its analysis of relative TSR on May 1, 2023. Choosing this arbitrary date conveniently ignores that the share price has declined 17% between
then and May 26, following the outcome of the Apple trial and Masimo&rsquo;s disappointing first quarter earnings announced on May 9,
2023. Masimo also began its one-year TSR measurement on May 1, 2022, allowing it to avoid factoring in the 51% decline that occurred following
the announcement of the Sound United transaction on February 15, 2022. The reality is simple: Masimo has underperformed its own selected
peers over any relevant timeframe.<SUP>2</SUP></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 44.5pt; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 44.5pt; text-align: center; background-color: #FEFEFE"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><IMG SRC="image_001.gif" ALT="" STYLE="height: 329px; width: 624px"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 44.5pt; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 44.5pt; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: #FEFEFE"><TR STYLE="vertical-align: top">
<TD STYLE="width: 26.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Masimo distorts its poor ROIC performance</B>.
The Company makes the claim that its ROIC has not declined and that its capital allocation has been &ldquo;excellent&rdquo; by skewing
the facts. As Politan shows in its own materials, which do adjust for royalties, Masimo&rsquo;s ROIC has decreased by 30% since 2012.
Meanwhile, Masimo presents ROIC on an after-tax basis and only through 2021 in order to benefit from a 38% reduction in its effective
tax rate due to 2017 tax reform and to ignore another stepdown in ROIC in 2022.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 44.5pt; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 44.5pt; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 2in"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><SUP>1</SUP></FONT> Gordon Haskett,
May 26, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><SUP>2</SUP></FONT> Company May 26<SUP>th</SUP>,
2023 letter to shareholders, Bloomberg. Data through May 22<SUP>nd</SUP>, 2023, date upon which definitive proxy statement was filed.
Given ~40% decline in share price following Sound United acquisition (1.3 years ago), Politan shows total stock return since the acquisition
in place of 1 year so that measurement period is relevant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Select Peers are those chosen by Masimo in their May 26<SUP>th</SUP>,
2023 letter to shareholders and includes: ALGN, EW, ISRG, RMD.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2022 Proxy Peers include: ABMD, ALGN, COO, XRAY, DXCM, GMED, HAE, HOLX,
PODD, ICUI, IART, LIVN, NUVA, RMD, TDOC, TNDM, TFX, WST.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Proxy Peers with Same Growth Profile are 2022 Proxy Peers that have
a 3-year forward sales CAGR exceeding 10% and includes ABMD, DXCM, HOLX, PODD, RMD, WST.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dow Jones US Medical Equipment Index (selected by Masimo in their proxy
statement).</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 44.5pt; text-align: justify; background-color: #FEFEFE"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 44.5pt; text-align: justify; background-color: #FEFEFE"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 44.5pt; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: #FEFEFE"><TR STYLE="vertical-align: top">
<TD STYLE="width: 26.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Masimo&rsquo;s claims that Politan is seeking
 &ldquo;control&rdquo; of the Company are absurd</B>. Politan has nominated two director candidates for what will be a seven-member Board
(there are currently five directors, and the Company has committed to expanding the Board by two). The nominees are independent and have
no preexisting relationship with each other or other Board members. Politan used a nationally recognized search firm to identify candidates.
Politan is seeking refreshed corporate governance at Masimo befitting a public company, not corporate control &ndash; and any suggestion
otherwise is completely baseless.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 44.5pt; text-align: justify; background-color: #FEFEFE">This accusation
from Masimo is even more absurd when you consider that the incumbent Board has time and again taken extreme measures to prevent shareholders
from having even a minimal level of influence. These entrenchment tactics have included the egregious advance notice bylaws put in place
in response to Politan&rsquo;s engagement, a compensation agreement for the CEO &ndash; including a ~$600 million special payment &ndash;
that is designed specifically to disenfranchise shareholders, and a track record of undermining shareholders by not following through
on commitments to improve governance. This is what going to extremes to keep control looks like &ndash; not Politan nominating two directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: #FEFEFE"><TR STYLE="vertical-align: top">
<TD STYLE="width: 26.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For over nine months, Masimo&rsquo;s Board
has never been willing to meet with Politan. </B>The Company&rsquo;s recent claims that Politan has been unwilling to &ldquo;engage&rdquo;
or &ldquo;cooperate&rdquo; with the Board are simply not credible. If anything, the Board&rsquo;s pattern of engagement has only served
to underscore its broken governance. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 44.5pt; text-align: justify; background-color: #FEFEFE">For example,
following Politan&rsquo;s introductory meeting with Masimo management, the Board refused to meet and immediately adopted entrenching bylaws.
The Board then used that initial one-hour meeting as a basis to depose Politan employees for ~40 hours, subpoena individuals suspected
of being Politan limited partners, and seek extensive and inappropriate discovery into Politan. These information requests were later
deemed &ldquo;irrelevant&rdquo; by the Court and halted, but not before Politan was forced to dedicate significant time and resources
to defending itself.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 44.5pt; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 44.5pt; text-align: justify; background-color: #FEFEFE">In addition,
the evening before deposing Politan employees, Masimo invited Politan to meet one director, but never followed through once an NDA was
in place. Masimo also called Mr. Koffey and told him under no scenario would he be added to the Board. Despite this clear message, Masimo
subsequently offered to interview Mr. Koffey, but once again only as a litigation tactic, refusing to do so under NDA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">Politan encourages
shareholders to review its presentation, proxy materials and letter to shareholders, all of which are available at <FONT STYLE="color: Blue"><U>www.AdvanceMasimo.com</U></FONT>.
Shareholders can support real change at Masimo by voting on the <U>BLUE</U> proxy card FOR the election of Michelle Brennan and Quentin
Koffey.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE"><B>CAUTIONARY STATEMENT
REGARDING FORWARD-LOOKING STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">The information herein
contains &ldquo;forward-looking statements.&rdquo; Specific forward-looking statements can be identified by the fact that they do not
relate strictly to historical or current facts and include, without limitation, words such as &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;expects,&rdquo;
 &ldquo;believes,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;plans,&rdquo; &ldquo;estimates,&rdquo; &ldquo;projects,&rdquo; &ldquo;potential,&rdquo;
 &ldquo;targets,&rdquo; &ldquo;forecasts,&rdquo; &ldquo;seeks,&rdquo; &ldquo;could,&rdquo; &ldquo;should&rdquo; or the negative of such
terms or other variations on such terms or comparable terminology. Similarly, statements that describe our objectives, plans or goals
are forward-looking. Forward-looking statements are subject to various risks and uncertainties and assumptions. There can be no assurance
that any idea or assumption herein is, or will be proven, correct. If one or more of the risks or uncertainties materialize, or if Politan&rsquo;s
(defined below) underlying assumptions prove to be incorrect, the actual results may vary materially from outcomes indicated by these
statements. Accordingly, forward-looking statements should not be regarded as a representation by Politan that the future plans, estimates
or expectations contemplated will ever be achieved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">Certain statements
and information included herein have been sourced from third parties. Politan does not make any representations regarding the accuracy,
completeness or timeliness of such third-party statements or information. Except as may be expressly set forth herein, permission to cite
such statements or information has neither been sought nor obtained from such third parties. Any such statements or information should
not be viewed as an indication of support from such third parties for the views expressed herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE"><B></B></P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE"><B>CERTAIN INFORMATION
CONCERNING THE PARTICIPANTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">Politan Capital Management
LP (&ldquo;Politan&rdquo;) and the other Participants (as defined below) have filed a definitive proxy statement and accompanying BLUE
universal proxy card with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) to be used to solicit proxies for, among other
matters, the election of its slate of director nominees at the 2023 annual stockholders meeting (the &ldquo;2023 Annual Meeting&rdquo;)
of Masimo Corporation, a Delaware corporation (&ldquo;Masimo&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">The participants in
the proxy solicitation are Politan, Politan Capital Management GP LLC, Politan Capital Partners GP LLC, Politan Capital NY LLC, Politan
Intermediate Ltd., Politan Capital Partners Master Fund LP (&ldquo;Politan Master Fund&rdquo;), Politan Capital Partners LP (&ldquo;Politan
LP&rdquo;), Politan Capital Offshore Partners LP (&ldquo;Politan Offshore&rdquo; and collectively with Politan Master Fund and Politan
LP, the &ldquo;Politan Funds&rdquo;), Quentin Koffey, Matthew Hall, Aaron Kapito and Michelle Brennan (collectively, the &ldquo;Participants&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">As of the date hereof,
(i) Politan Master Fund directly owns 4,712,518 shares of common stock, par value $0.001 per share, of Masimo (the &ldquo;Common Stock&rdquo;),
and (ii) Politan Capital NY LLC is the direct and record owner of 1,000 shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">Politan, as the investment
adviser to the Politan Funds, may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or
direct the disposition of) 4,713,518 shares of Common Stock (the &ldquo;Politan Shares&rdquo;) and, therefore, Politan may be deemed to
be the beneficial owner of all of the Politan Shares. The Politan Shares collectively represent approximately 8.9% of the outstanding
shares of Common Stock based on 52,779,770 shares of Common Stock outstanding as of April 1, 2023, as reported in Masimo&rsquo;s Quarterly
Report on Form 10-Q filed on May 10, 2023. As the general partner of Politan, Politan Capital Management GP LLC may be deemed to have
the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) all of the Politan Shares
and, therefore, Politan Capital Management GP LLC may be deemed to be the beneficial owner of all of the Politan Shares. As the general
partner of the Politan Funds, Politan Capital Partners GP LLC may be deemed to have the shared power to vote or to direct the vote of
(and the shared power to dispose or direct the disposition of) all of the Politan Shares and, therefore, Politan Capital Partners GP LLC
may be deemed to be the beneficial owner of all of the Politan Shares. By virtue of Mr. Koffey&rsquo;s position as the managing partner
and chief investment officer of Politan and as the managing member of Politan Capital Management GP LLC and Politan Capital Partners GP
LLC, Mr. Koffey may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition
of) all of the Politan Shares and, therefore, Mr. Koffey may be deemed to be the beneficial owner of all of the Politan Shares. As of
the date hereof, none of Mr. Hall, Mr. Kapito or Ms. Brennan own beneficially or of record any shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE"><B>IMPORTANT INFORMATION
AND WHERE TO FIND IT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">POLITAN STRONGLY ADVISES
ALL STOCKHOLDERS OF MASIMO TO READ THE DEFINITIVE PROXY STATEMENT, ANY AMENDMENTS OR SUPPLEMENTS TO SUCH PROXY STATEMENT AND OTHER PROXY
MATERIALS FILED BY POLITAN WITH THE SEC AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. SUCH PROXY MATERIALS
WILL BE AVAILABLE AT NO CHARGE ON THE SEC&rsquo;S WEBSITE AT WWW.SEC.GOV. THE DEFINITIVE PROXY STATEMENT AND OTHER RELEVANT DOCUMENTS,
ARE ALSO AVAILABLE ON WWW.ADVANCEMASIMO.COM AND THE SEC WEBSITE, FREE OF CHARGE, OR BY DIRECTING A REQUEST TO THE PARTICIPANTS&rsquo;
PROXY SOLICITOR, D.F. KING &amp; CO., INC., 48 WALL STREET, 22ND FLOOR, NEW YORK, NEW YORK 10005 (STOCKHOLDERS CAN CALL TOLL-FREE: +1
(866) 620-9554).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE"><B>Investor Contact</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">D.F. King &amp; Co.,
Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">Edward McCarthy</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">emccarthy@dfking.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE"><B>Media Contact </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE">Dan Zacchei / Joe Germani</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE">Longacre Square Partners</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE">dzacchei@longacresquare.com / jgermani@longacresquare.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE">&nbsp;</P>

<!-- Field: Page; Sequence: 5; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>image_001.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_001.gif
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MT>N@K/?;W_;2V/+ R,_0T:"BHZ:HJ?GY^?SP\N:&EMM+8N%I?/;2UY^?GT!
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M3<T$(=2CTRG?(=^X(@"H-#[53#VM7<*S5T0MPX7]5X3H0C-!R$,>K$!&*"$
M[3&(N#+]=N%8^(1.J(4/CD00VQ.TK'Y%#+,O-X?+C5T-F7V4BQ,C4,1A* +:
MU:LH@(,Q'N-TN),V0<L>H'/_2&D[CF4P'HA]792#"1%]L%[B31!=O%VGFJ<@
MM*JALZ&P6Y_'RN!8>Y]DZ[L!4A>=G;6-,<VD@RM,^]-RC,Y%1#![H8AF5(EB
M%.%4(HE^4CV-M$;"725X[C&AL2,NDS5K6Z"$M$:G_T@C= ZD13'%*CX0S]8$
M>[M=M_6,;R:-Q7A=#)L2CBZ0W$5BV,VW0*.^EVZ+FOZ22GR+019?VF;IT6CJ
MN/@1, T 3[Y>O+3% 5;9Z4(PC*H[ +OEO7,8"]J[OCNU R'4,\!O(,,8KBO'
M61/FG7+.)Q$UVA@CW%@77/"-=AXEXC@N!6J.AY. FV,;YC$79!+)&SZW)I2/
MZ_B.-?*-2?&/&DEI(O #[05^1E#9Y"=B[SD3\EZH1!Q@ N&1C;;O(=D3&0DT
M$"GI!/&1Y'7PQJRV*<9><?!X8>C,O1:[T+&@!HH[<T$Z&TK'7OLO! *U\+%J
M"@H 3P A!9XN-%,]+Y\BB_^0 6+=&3 9DY5W$S?/$3*)ZKT*$3U/Q1/AOMNE
MS,SHG@<AWS#7'%- !*+(+KV3!(CHV_RRM 4!X*K$OXTZU5&SJM+.]6N>(FF"
MGH*APS\YXTQ6Y3F)]CT!8FH_$41IS$W^$%>Z7H/X8P%F])8]W)*4P<F:X)\"
MP -!P/CIU( :-I 3\J'1H<,SBGP^2&^Z6$B,$<K)$_7&$97O$Y<_]#\,$H1:
M$#=YM)P6AJ=+)&_[KZS]N@GZ*5D#-ZS#M<?>S<L>'2V*U E>^$8]O+#:+9"]
M;31-$+C.7B))ORY?7/@-M332^+??IKX; (AO^.1!(N,L$"PJ.*^_^\TSZZ5+
M\6W_&&#472D<(\#;O*^A0<?5(3%P:AI8OR-9XZE#?8B/_WHGCOW<<LP6+_ I
M'6!J:/H<0Y]8:Z  T0, @ P#F P$L&C  !H(!U98N+#"P"02!SH8T 7 I(@#
M)@' F'&@C84,'%Y<6.3D2I8M7;Z$&5/F3)HU;=[$F5/G3IX]??X$&E3H4*)%
M3Q;ZB/.,!Z9-10P4T53J(I8X!CAPV-$+0HX6-PZ80H.)V)0K*Y8<Z96CQH(1
M,X!<N!4 @X4-3WJI:U3O7KY]_?X%'%CP8,*%:TXJE/.%5*9'!J9A[,$QRRX>
M'1:)F!3N0H$ )'4$S7)*WKF<46Y5&)%J2(T \!I<67F _PW#M6W?QIU;]V[>
MO6]6T&Q34&0/5'U$-M)2P%6')!=^01ARP,32H%6O?#TE[724K3NB'" WY,&3
M= >8])U>_7KV[=V_-XQ8YW'&:0 0?TIY  2'KP<XE.XM $BRH0LO#*1A(0$=
M2DV[ZCJ;020 ,!M )0 *6*BUMOX[B8F%L((O1!%')+%$$W=#2B<CB!N.,1]<
MP@O$AQ8B;Z"NN / 0^H&>DW&K!;:CCJ,Y'+.+M8&2FV !0<:#<<3GX0R2BFG
MI)*K'6]"@3CB[&NILAD81"NZB*@;C2J$()+P),P<-$] C%HS#[V0Y)IPH>"2
MK#)//??DL\_ 4M3)#RT90\&ERO]\!& T'Z6C#DB'OEB(MI4PL] YZCC" 3RY
MNFH- -DZ!0!-N_PDM5133T65J\1TBFI0IIIXJ;+@ $CP2ND$@M1"A%(;]4>[
MS!-2PJZ2.G(@2"MTR+Q94V6V66>?70\XG@9QU0,%7HKQI,K,M'',4&$[:30'
M'6H+/4M/&^@!!35U*$$E$1(76GGGI;=>P.3;J0177X#IT),X.NE6 ")$SR$/
M.4S6*_,"Z [)A<PLUEC29$/47HLOQCCCEP#=Z0,M8>V7N4=K!(^[Y4#=[HL*
MNJB@ N?&/?<K.D?C*L.3G&- MB*XU;AGGW^6=Y(K=1J!OJ;8D$G6E0HN^2V2
MEI6M@A[_K%L0V(9'JG'.23N:@F? ,D"J@K#'%IILL<M&^VRUS68[[;;7=CMN
MN.=^NVZY[:;[;KWSYAMOO_?^NV_ !Q>\\, /)QQQPQ-G?'''%8<<< D*H;R0
MEB?BF"<4V&B,7YFR/6GH&R>J=:60L'*NPBMCQD@ A&9P'3R4!V)@-!N\!FR1
M1'3?/9'>?^<]>-^%!WYXXXM'GGCECU\^>>:?=S[ZYJ>'GGKIJ\?^>NVMYS[[
M[K?W/GSPQ_^^?/'-)_]\]=/7WG??*1A^HU5Y:@%H^^_'/W\3I=6_?___!Z")
M\!5  A;0@ <D3.80N$ &-M"!-A': R4X00H^4($5Q& &-?BS_P%NT(,?!.&S
M^!="$I;0A'GJX E5N$(6MN>"+81A#&4XF C.T(8WQ&%17IA#'O;0AR])X0]/
M$A$P.8HF1LP)$EL"&AI, G= 8:(3"Z-$A%!1B!\<X16'N*Z!;,@F6<2)%;<H
MM HDJ&)0]$C+S%@8_N'E1UHL81#AR!"1 < J8M1+!9BV1(0! (\]0>(?_Q+(
M/L+1@SN\8GCHXK"0#"01K\&!F1ZY$!Q QU$#H 0C\&*#+V" (="Q48*:>)&/
M+ *2H*QB'X$4G@R,<B.B_ A>)J*0+D1B &:R)<\(V:TZ?J6.K!SE) =0280D
M:$9)H8%=GA,:/P[@"Y7AI"$U6$-I#O\D(Q!Y2T&.-1!9<40N"<I *S5RR01-
MXC4,P(M=.,( /7I$ 0("ISBWB)""-(2.#'C+.MLYB18PI 6?4=F[%$(G:R*L
MG@0)#UZ2 A$O*-2:"<(GK90DSVY!!R\:44A2'M85_M5E$I7I534E*(%ES;$+
M"L$*1III(P%5QIH,H(K*5MI,,SULI@FJ::_.0Q4*S,HZ[^*B1'/Z+8<.%*%+
M:B9HWN)2/Z*'J><IZ()V"H OS*\@'R%B001T257>LJ BK2 B<]/(G7R!)+.3
MDD@6R1PC9D V'.J* T#)U51^=:9W]:5<5R(1,M:TJW7UE$U+8\I"-A,X+:MI
M:YZJ6 XA,:[_J+2F%Q2B397:=9=V!:L$Q8H;=R'5)N4<VI1$ A&,O,51')D(
M4ZDZK)D:D:YW5>(76/O&O?[5KNXRDU9[B=D??2>I1,3K:C_4'R7]QR/H!.QE
M@YM9!E+3-Y"JP6YM(L@GB>18C6UL:XS9!0$M8JW832Z'C)D0AB"$NTA:)&WG
M64P.*:0A$"&MPQ($6=Y6L36+F.M]YXJP\R8DO3-B %:\0)<=O1:SU"6* LQ
ME!.T1\%%:7!Z'MR7" <%C+SA2%L0(DQB.F02L*1J1] :)0FM\:9*<@ 0;EF9
M"@34) 9^+408, D"FW<Z+EYOCK\U8P+3,K"@_$QAEPL7!ZP3)46&_^I=68SC
M7:VK+=QR5#GW"UC :,$#8"#*"XSPQ-Q8&<M9WG)OO.P7+7,Y)\[MC3'Q L^)
MT@!4^J2+$SGJV;2VAB-31NB-,[((!XC2 52!,7@'L@517HG/?O::%97XX0$
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MEC# W:A A&A C4,(!00 !F2*!V2*$Y# B#N)"[0-$V0^A(",!5L,\!,[EHO
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M>?1^BMR-0_<8?:3PM_.8@ N#6Q_!JRS_@D3_]6CTY9M_MZ__B31LG "("I,
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MGEH>1(B B  J ""=6)A!_;G6"*P*T;:;JFF!%N@?T_+&TU)4U+K*U!:$&9R
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*PJBR01].0   .P$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
