Churchill Downs Inc (CHDN) Stock: PAR Capital Management Lowers Stake Below 5%

Page 7 of 7 – SEC Filing

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SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true,
complete and correct.

Date: Oct 24, 2016

PAR INVESTMENT PARTNERS, L.P.
By:		PAR Group, L.P.
		its general partner
By:		PAR Capital Management, Inc.
		its general partner
By:		/s/ Steven M. Smith
		Steven M. Smith, Chief Operating Officer
PAR GROUP, L.P.
By:		PAR Capital Management, Inc.
		its general partner
By:		/s/ Steven M. Smith
		Steven M. Smith, Chief Operating Officer
PAR CAPITAL MANAGEMENT, INC.
By:		/s/ Steven M. Smith
		Steven M. Smith, Chief Operating Officer