ANDREW CHESSER, THE JOCKEY CLUB, USA & IFHA REVIEW OF CURRENT ECONOMIC TRENDS IN BREEDING AND RACING – 2012 AND EARLY LOOK TO 2013 ANDREW CHESSER, THE JOCKEY CLUB, USA & IFHA 1

REVIEW OF CURRENT ECONOMIC TRENDS IN BREEDING AND RACING – 2012 & EARLY LOOK TO 2013

REVIEW OF CURRENT ECONOMIC TRENDS IN BREEDING AND RACING – 2012 & EARLY LOOK TO 2013

REVIEW OF CURRENT ECONOMIC TRENDS IN BREEDING AND RACING – 2012 & EARLY LOOK TO 2013 4

REVIEW OF CURRENT ECONOMIC TRENDS IN BREEDING AND RACING – 2012 & EARLY LOOK TO 2013 5

COMPARISON OF 2012 VS 2011 BREEDING STATISTICS -12% TOTAL NUMBER OF STALLIONS THAT COVERED A MARE -11% TOTAL NUMBER OF MARES BRED -4% TOTAL NUMBER OF FOALS BORN 2012 REVIEW OF CURRENT ECONOMIC TRENDS IN BREEDING AND RACING – 2012 & EARLY LOOK TO 2013 6

BREEDING TRENDS FOR PAST FIVE YEARS -11% TOTAL NUMBER OF STALLIONS THAT COVERED A MARE -14% TOTAL NUMBER OF FOALS BORN -27% TOTAL NUMBER OF MARES BRED 2012 REVIEW OF CURRENT ECONOMIC TRENDS IN BREEDING AND RACING – 2012 & EARLY LOOK TO 2013 7

REVIEW OF CURRENT ECONOMIC TRENDS IN BREEDING AND RACING – 2012 & EARLY LOOK TO 2013 8

REVIEW OF CURRENT ECONOMIC TRENDS IN BREEDING AND RACING – 2012 & EARLY LOOK TO 2013 9

REVIEW OF CURRENT ECONOMIC TRENDS IN BREEDING AND RACING – 2012 & EARLY LOOK TO 2013 10

REVIEW OF CURRENT ECONOMIC TRENDS IN BREEDING AND RACING – 2012 & EARLY LOOK TO 2013 11

REVIEW OF CURRENT ECONOMIC TRENDS IN BREEDING AND RACING – 2012 & EARLY LOOK TO 2013

REVIEW OF CURRENT ECONOMIC TRENDS IN BREEDING AND RACING – 2012 & EARLY LOOK TO 2013

REVIEW OF CURRENT ECONOMIC TRENDS IN BREEDING AND RACING – 2012 & EARLY LOOK TO 2013 14

REVIEW OF CURRENT ECONOMIC TRENDS IN BREEDING AND RACING – 2012 & EARLY LOOK TO 2013 15

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