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64#05(14/'45

6JGHKTUVTGRTGUGPVCVKQPQHVTCPUHQTOGTUKPVJG'/62YCUKPVJGHQTOQHDTCPEJTGUKUVCPEGCPFKPFWEVCPEG
OCVTKEGU=4?CPF=.?6JGUWRRQTVTQWVKPG:(14/'4YCUYTKVVGPVQRTQFWEGVJGUGOCVTKEGUHTQOVJGVGUVFCVCQH
UKPINGRJCUGVYQCPFVJTGGYKPFKPIVTCPUHQTOGTU5VTC[ECRCEKVCPEGUCTGKIPQTGFKPVJGUGTGRTGUGPVCVKQPUCPFVJG[
CTGVJGTGHQTGQPN[XCNKFWRVQCHGYM*\
#UVCTEKTEWKVTGRTGUGPVCVKQPHQT0YKPFKPIVTCPUHQTOGTU
ECNNGFUCVWTCDNGVTCPUHQTOGTEQORQPGPVKPVJG
$2#'/62 YCUCFFGFNCVGTYJKEJWUGUOCVTKEGU=4?CPF=.? YKVJVJGCNVGTPCVGGSWCVKQP


=.?& =X? ' =.?& =4? =K? % =FK  FV?



KPVJGVTCPUKGPVUQNWVKQP6JKUHQTOWNCVKQPCNUQDGECOGWUGHWNYJGPUWRRQTVTQWVKPGU$%64#0CPF64'.')YGTG
FGXGNQRGFHQTKPFWEVCPEGCPFKPXGTUGKPFWEVCPEGOCVTKZTGRTGUGPVCVKQPUQHVJTGGRJCUGWPKVU#PCVVGORVYCUOCFG
VQ GZVGPF VJG UVCT EKTEWKV VQ VJTGGRJCUG WPKVU CU YGNN VJTQWIJ VJG CFFKVKQP QH C \GTQUGSWGPEG CKTTGVWTP RCVJ
TGNWEVCPEG6JKUOQFGNJCUUGNFQODGGPWUGFJQYGXGTDGECWUGVJG\GTQUGSWGPEGTGNWEVCPEGXCNWGKUFKHHKEWNVVQ
QDVCKP
5CVWTCVKQPGHHGEVUJCXGDGGPOQFGNNGFD[CFFKPIGZVTCPQPNKPGCTKPFWEVCPEGCPFTGUKUVCPEGDTCPEJGUVQVJG
KPFWEVCPEGQTKPXGTUGKPFWEVCPEGOCVTKZTGRTGUGPVCVKQPUQTKPVJGECUGQHVJGUVCTEKTEWKVYKVJVJGDWKNVKPPQPNKPGCT
OCIPGVK\KPIKPFWEVCPEGCPFKTQPEQTGTGUKUVCPEG#PQPNKPGCTKPFWEVCPEGYKVJJ[UVGTGUKUGHHGEVU
ECNNGFRUGWFQ
PQPNKPGCT J[UVGTGVKE TGCEVQT KP VJG $2# '/62  JCU DGGP FGXGNQRGF CU YGNN  #P CEEWTCVG TGRTGUGPVCVKQP QH
J[UVGTGUKUCPFGFF[EWTTGPVGHHGEVUQHUMKPGHHGEVKPVJGEQKNUCPFQHUVTC[ECRCEKVCPEGGHHGEVUKUUVKNNFKHHKEWNVCVVJKU
VKOGCPFUQOGRTQITGUUKPOQFGNNKPIVJGUGGHHGEVUECPDGGZRGEVGFKPVJG[GCTUVQEQOG
5WTRTKUKPIN[VJGUKORNGUVVTCPUHQTOGTTGRTGUGPVCVKQPKPVJGHQTOQHCPKFGCNVTCPUHQTOGTYCUVJGNCUV
OQFGNVQDGCFFGFVQVJG'/62KPCURCTVQHCTGXKUKQPVQCNNQYHQTXQNVCIGUQWTEGUDGVYGGPPQFGU
6TCPUHQTOGTUCU2CTVQH6JGXGPKP'SWKXCNGPV%KTEWKVU
+HCFKUVWTDCPEGQEEWTUQPVJGJKIJUKFGQHCUVGRWRVTCPUHQTOGTVJGPVJGPGVYQTMDGJKPFVJCVVTCPUHQTOGT
RNWUVJGVTCPUHQTOGTKVUGNHKUWUWCNN[TGRTGUGPVCVKQPCUCXQNVCIGUQWTEGDGJKPF4.DTCPEJGU5KPEGVJGVTCPUHQTOGT
KPFWEVCPEGUVGPFVQHKNVGTQWVVJGJKIJHTGSWGPEKGUUWEJCNQYHTGSWGPE[4.EKTEWKVCRRGCTUVQDGTGCUQPCDNG
6QGZRNCKPVJGFGTKXCVKQPQHUWEJ6JGXGPKPGSWKXCNGPVEKTEWKVUVJGRTCEVKECNGZCORNGQH(KIUJCNNDG
WUGF =? YJGTG VJG HGGFKPI PGVYQTM EQPUKUVU QH VJTGG IGPGTCVQTU CPF VYQ VJTGGYKPFKPI VTCPUHQTOGTU  6JG
VTCPUHQTOGTUJQTVEKTEWKVTGCEVCPEGUCTG: RW: RW: RWCPFVJGIGPGTCVQT
*.

*6

TGCEVCPEGKU: RWCNNDCUGFQP
F



.6

VJTGGYKPFKPI
VTCPUHQTOGTU
6JGVJIGPGTCVQTYCUFKUEQPPGEVGF
HQTCEEGRVCPEGVGUVKPI
(KI0GVYQTMEQPHKIWTCVKQPHQTXCTKQWUHKGNFVGUVUCV%'/+)$TC\KN=?

/8#CV*\9KVJVJGYGNNMPQYPGSWKXCNGPVUVCTEKTEWKVHQTVJTGGYKPFKPIVTCPUHQTOGTU
UGG5GEVKQP VJG
RQYGTRNCPVKP(KIECPDGTGRTGUGPVGFYKVJVJGRQUKVKXGCPF\GTQUGSWGPEGPGVYQTMUQH(KI(QTUKORNKEKV[
TGUKUVCPEGUCTGKIPQTGFDWVVJG[EQWNFGCUKN[DGKPENWFGF+VKUHWTVJGTCUUWOGFJGTGVJCVVJG\GTQUGSWGPEGTGCEVCPEG
XCNWGUQHVJGVTCPUHQTOGTCTGVJGUCOGCUVJGRQUKVKXGUGSWGPEGXCNWGUYJKEJKUQPN[EQTTGEVHQTVJTGGRJCUGDCPMU
DWKNVHTQOUKPINGRJCUGWPKVUDWVPQVSWKVGEQTTGEVHQTVJTGGRJCUGWPKVU
KHVJG\GTQUGSWGPEGXCNWGUYGTGMPQYP

2QUKVKXGUGSWGPEG
PGICVKXG
UGSWGPEGKFGPVKECNGZEGRVVJCV
XQNVCIGUQWTEGUCTGUJQTVGF



<GTQUGSWGPEG

(KI'SWKXCNGPVEKTEWKVUHQTVJGRQYGTRNCPV
TGCEVCPEGXCNWGUKPRWDCUGF
QP/8#CV*\
VJGPVJQUGXCNWGUEQWNFQHEQWTUGDGWUGFKP(KI
D (WTVJGTOQTGVJGIGPGTCVQTKUOQFGNNGFCUCU[OOGVTKECN
XQNVCIGUQWTEG'DGJKPF: 0QVGVJCVVJGFGNVCEQPPGEVGFYKPFKPIUCEVCUUJQTVEKTEWKVUHQT\GTQUGSWGPEGEWTTGPVU
F

KP (KI 


D YJKNGVJGIGPGTCVQTUCTGFKUEQPPGEVGFVQHQTEG+

6JG\GTQUGSWGPEGRCTCOGVGTUQHVJG

\GTQ

IGPGTCVQTUCTGVJGTGHQTGKTTGNGXCPVKPVJKUGZCORNG
6JGPGVYQTMUQH(KIECPPQYDGTGFWEGFVQVJGVJTGG6JGXGPKPGSWKXCNGPVEKTEWKVUQH(KIYJKEJ
KPVWTPECPDGEQPXGTVGFVQQPGVJTGGRJCUG6JGXGPKPGSWKXCNGPVEKTEWKVCUUJQYPKP(KI6JKUVJTGGRJCUG
EKTEWKVKUWUGFKPVJG'/62HQTVJGTGRTGUGPVCVKQPQHVJGRQYGTRNCPVYKVJVJGFCVCWUWCNN[EQPXGTVGFHTQORWVQ
CEVWCNXCNWGUUGGPHTQOVJGM8UKFG
: : S:
RQZ

PGI

\GTQ

SQT: S: 


U

SCV*\ 6JGU[OOGVTKECNXQNVCIGUQWTEGU' ' ' DGJKPFVJGEQWRNGFKPFWEVCPEGUKP(KICTGVJGQRGP


C

EKTEWKVXQNVCIGUQHVJGRQYGTRNCPVQPVJGM8UKFG+PVJGVTCPUKGPVUKOWNCVKQPVJGOCVTKZ=:?KUQDXKQWUN[
TGRNCEGFD[VJGKPFWEVCPEGOCVTKZ=.?

(KI6JGXGPKPGSWKXCNGPVEKTEWKVUKPUGSWGPEGSWCPVKVKGU

(KI6JTGGRJCUG6JGXGPKPGSWKXCNGPVEKTEWKVKPRJCUGSWCPVKVKGU

+PFWEVCPEG/CVTKZ4GRTGUGPVCVKQPQH5KPING2JCUG6YQCPF6JTGG9KPFKPI6TCPUHQTOGTU
6TCPUHQTOGTUECPQPN[DGTGRTGUGPVGFCUEQWRNGF=4?=.?DTCPEJGUKHVJGGZEKVKPIEWTTGPVKUPQVKIPQTGF
6JGFGTKXCVKQPUCTGHCKTN[UKORNGCPFUJCNNDGGZRNCKPGFYKVJURGEKHKEGZCORNGU



6YQ9KPFKPI6TCPUHQTOGTU
#UUWOGCUJQTVEKTEWKVTGCEVCPEGQHUJQTVEKTEWKVNQUUGUQHCPFCPGZEKVKPIEWTTGPVQHDCUGF
QPVJGTCVKPIU8

5

TCVKPI

TCVKPI

QHVJGVTCPUHQTOGT6JGGZEKVCVKQPNQUUGUCTGKIPQTGFDWVEQWNFDGVCMGPKPVQCEEQWPVCU

GZRNCKPGFKP5GEVKQP+HVJGIKXGPSWCPVKVKGUCTG< NQCFNQUUGU2 CPFRQYGTTCVKPI5


RW

NQUU

TCVKPI

VJGPVJGTGUKUVCPEG

CPFTGCEVCPEGRCTVQHVJGUJQTVEKTEWKVKORGFCPEGCTG
4RW ' 2NQUU  5TCVKPI

C

:RW ' <RW & 4RW

D

5KPEGVJGNQCFNQUUGUFQPQVIKXGCP[KPHQTOCVKQPCDQWVVJGKTFKUVTKDWVKQPDGVYGGPYKPFKPIUCPFKVKUDGUVVQ
CUUWOG
4 RW ' 4 RW '


4
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E

+HVJGYKPFKPITGUKUVCPEGUCTGMPQYPCPFPQVECNEWNCVGFHTQO2 VJGP4 CPF4 OC[QHEQWTUGDGFKHHGTGPV


NQUU

RW

RW

CPF4 4  4 KUVJGPWUGFKP'S


D 9KVJVJG6EKTEWKVTGRTGUGPVCVKQPHQWPFKPOQUVVGZVDQQMUVJGRW
RW

RW

RW

KORGFCPEGUCTGVJGPCUUJQYPKP(KI6JGUJQTVEKTEWKVKORGFCPEG LRWKUFKXKFGFKPVQVYQGSWCN
RCTVUCPFVJGOCIPGVK\KPITGCEVCPEGLRWYJKEJKURWTGN[KOCIKPCT[YJGPGZEKVCVKQPNQUUGUCTGKIPQTGFKU
EJQUGPVQIKXGCPKPRWVKORGFCPEGQHRWHTQOQPGUKFGYKVJVJGQVJGTUKFGQRGPVQOCMGVJGGZEKVKPIEWTTGPV
RW
VJGTGUKUVCPEGRWKUUQUOCNNEQORCTGFVQRWVJCVKVECPDGKIPQTGFKPHKPFKPIVJGXCNWG
L 6JGGSWCVKQPUYKVJVJGDTCPEJKORGFCPEGOCVTKZKPRWCTGVJGP

(KI6EKTEWKVTGRTGUGPVCVKQPQHVTCPUHQTOGT

8 RW
8 RW

'





% L





+ RW





+ RW

C

HQTUVGCF[UVCVGUQNWVKQPUQT
8
8

' =4?

K
K

% =.?

FK  FV

D

FK  FV


HQTVTCPUKGPVUQNWVKQPUYKVJ=4?DGKPIVJGUCOGOCVTKZCUKP'S
C CPF=.?T=:?/QUV'/62UVWFKGU
CTGFQPGYKVJCEVWCNXCNWGUTCVJGTVJCPYKVJRWXCNWGU+PVJCVECUGVJGOCVTKZKP'S
 OWUVDGEQPXGTVGFVQ
CEVWCNXCNWGUYKVJ

=<? '

YJGTG5

 8

5TCVKPI

 8

 8

 8 8

 8 8

 8

% L



CRRCTGPVRQYGTTCVKPIQHVTCPUHQTOGT

TCVKPI

8 8 XQNVCIGTCVKPIUQHVTCPUHQTOGT


'S
 IKXGUVJG=4?CPF=:?OCVTKEGUQHEQWRNGFDTCPEJGUKPSCUTGSWKTGFD[VJG'/62YKVJVJGEQTTGEVVWTPU
TCVKQ8 8 +HCNNSWCPVKVKGUCTGVQDGTGHGTTGFVQQPGUKFGUC[UKFGVJGPUKORN[UGV8 8 KP'S
 


+VKUKORQTVCPVVQTGCNK\GVJCVVJGDTCPEJKORGFCPEGOCVTKZ=<?KP'S
 FQGUPQVKORN[VJCVVJGVYQ
EQWRNGFDTCPEJGUDGEQPPGEVGFCUUJQYPKPVJG6EKTEWKVQH(KI+HKVYGTGKPFGGFNKOKVGFVQVJCVEQPPGEVKQP
QPGEQWNFPQVTGRTGUGPVCVJTGGRJCUGDCPMKPY[GFGNVCEQPPGEVKQPDGECWUGDQVJUKFGUYQWNFCNYC[UDGEQPPGEVGF
HTQOPQFGVQITQWPFQTVQUQOGQVJGTEQOOQPPQFG+PUVGCF=<?UKORN[TGRTGUGPVUVYQEQWRNGFEQKNU
(KI 
6JGEQPPGEVKQPUCTGQPN[FGHKPGFVJTQWIJPQFGPCOGCUUKIPOGPVU(QTGZCORNGKHVJTGGUKPINGRJCUGVTCPUHQTOGTU
CTGEQPPGEVGFCUCVJTGGRJCUGDCPMYKVJCITQWPFGFY[GEQPPGEVKQPQPUKFGCPFCFGNVCEQPPGEVKQPQPUKFGVJGP
VJGHKTUVVTCPUHQTOGTEQWNFJCXGKVUVYQEQWRNGFDTCPEJGUHTQOPQFG*#VQITQWPFCPFHTQO.#VQ.$VJGUGEQPF
VTCPUHQTOGTHTQO*$VQITQWPFCPF.$VQ.%CPFVJGVJKTFVTCPUHQTOGTHTQO*%VQITQWPFCPF.%VQ.#6JKU
EQPPGEVKQPYKNNCNUQETGCVGVJGEQTTGEVRJCUGUJKHVCWVQOCVKECNN[
UKFGNCIIKPIDGJKPFUKFGD[EHQTDCNCPEGF
RQUKVKXGUGSWGPEGQRGTCVKQPKPVJKURCTVKEWNCTECUG 

(KI6YQEQWRNGFEQKNU

+NN%QPFKVKQPKPIQH+PFWEVCPEG/CVTKZ
6JGHQWTGNGOGPVUKPVJG=:?OCVTKZQH'S
 EQPVCKPDCUKECNN[VJGKPHQTOCVKQPHQTVJGGZEKVKPIEWTTGPV

OCIPGVK\KPITGCEVCPEG: RW YKVJVJGUJQTVEKTEWKVTGCEVCPEGDGKPITGRTGUGPVGFKPFKTGEVN[VJTQWIJVJG


O

UOCNNFKHHGTGPEGUDGVYGGP: CPF: CPFDGVYGGP: CPF: +HCNNHQWTXCNWGUYGTGTQWPFGFVQQPGFKIKVDGJKPF










VJGFGEKOCNRQKPV
: : : .RW VJGPVJGUJQTVEKTEWKVTGCEVCPEGYQWNFDGEQORNGVGN[NQUV:








UJQTV

 +POQUVUVWFKGUKVKUVJGUJQTVEKTEWKVTGCEVCPEGTCVJGTVJCPVJGOCIPGVK\KPITGCEVCPEGJQYGXGTYJKEJKPHNWGPEGU
VJG TGUWNVU  +V KU VJGTGHQTG KORQTVCPV VJCV =:? DG ECNEWNCVGF CPF RWV KPVQ VJG FCVC HKNG YKVJ XGT[ JKIJ CEEWTCE[



V[RKECNN[YKVJCVNGCUVQTFKIKVU VQOCMGEGTVCKPVJCVVJGUJQTVEKTEWKVTGCEVCPEG
:


UJQTV

' : &

:

UGGP HTQO UKFG 



KUUVKNNTGCUQPCDN[CEEWTCVG+VKUJKIJN[TGEQOOGPFGFVQECNEWNCVG:

HTQO'S
 VQEJGEMJQYOWEJKVFKHHGTU

UJQTV

HTQOVJGQTKIKPCNVGUVFCVC(QTCVTCPUHQTOGTYKVJUJQTVEKTEWKVTGCEVCPEGCPFGZEKVKPIEWTTGPVVJGXCNWGU
QH< < < YQWNFJCXGVQDGCEEWTCVGVQYKVJKPvVQCEJKGXGCPCEEWTCE[QHvHQT:






6JKU

UJQTV

CEEWTCE[RTQDNGOKUQPGQHVJGTGCUQPUYJ[< < < ECPPQVDGOGCUWTGFFKTGEVN[KPVGUVUKHVJKUFCVCKUVQEQPVCKP








VJGUJQTVEKTEWKVVGUVKPHQTOCVKQPDGUKFGUVJGGZEKVCVKQPVGUVKPHQTOCVKQP/CVJGOCVKECNN[=:?KUCNOQUVUKPIWNCTCPF
VJGTGHQTGKNNEQPFKVKQPGFVJGOQTGUQVJGUOCNNGTVJGGZEKVKPIEWTTGPVKU'ZRGTKGPEGJCUUJQYPVJCVVJGKPXGTUKQP
QH=:?KPUKFGVJG'/62FQGUPQVECWUGCP[RTQDNGOUCUNQPICUXGT[JKIJCEEWTCE[KUWUGFKPVJGKPRWVFCVC
2TQDNGOUOC[CRRGCTQPNQYRTGEKUKQPEQORWVGTUJQYGXGT6JGCWVJQTVJGTGHQTGRTGHGTUKPXGTUGKPFWEVCPEGOCVTKZ
TGRTGUGPVCVKQPUCUFKUEWUUGFKP5GEVKQP
6JTGG9KPFKPI6TCPUHQTOGTU
6JGKORGFCPEGOCVTKZQHUKPINGRJCUGVJTGGYKPFKPIVTCPUHQTOGTUECPDGQDVCKPGFKPCUKOKNCTYC[YKVJVJG
YGNNMPQYPUVCTEKTEWKVWUGFKP(KI+PVJCVEKTEWKVVJGOCIPGVK\KPITGCEVCPEGKUWUWCNN[EQPPGEVGFVQVJGUVCT
RQKPVDWVUKPEGKVUWPUCVWTCVGFXCNWGKUOWEJNCTIGTVJCPVJGUJQTVEKTEWKVTGCEVCPEGUKVEQWNFDGEQPPGEVGFVQGKVJGT
VJGRTKOCT[UGEQPFCT[QTVGTVKCT[UKFGCUYGNN#UUWOKPIVJCVVJGGZEKVKPIEWTTGPVHQTVJGGZCORNGQH(KIKU
OGCUWTGFHTQOVJGRTKOCT[UKFGYKVJGZEKVCVKQPNQUUGUKIPQTGFVJGOCIPGVK\KPITGCEVCPEGKPVJGUVCTRQKPVYQWNF
VJGPDGRW6JGP


 



=:? '    RW


  

6JGRCTVKEWNCTEQPPGEVKQPYQWNFCICKPDGGUVCDNKUJGFVJTQWIJVJGPQFGPCOGUCVDQVJGPFUQHVJGDTCPEJGU(QT
GZCORNGVJGVJTGGDTCPEJGUEQWNFDGEQPPGEVGFHTQOPQFG*#VQITQWPF.#VQ.$CPF6#VQ6$6QEQPXGTV
'S
 VQCEVWCNXCNWGUFKXKFGCNNGNGOGPVUD[VJGRQYGTTCVKPI5

CPFOWNVKRN[VJGHKTUVTQYCPFEQNWOPYKVJ

TCVKPI

XQNVCIGTCVKPI8 VJGUGEQPFTQYCPFEQNWOPYKVJ8 CPFVJGVJKTFTQYCPFEQNWOPYKVJ8 




6JG=4?CPF=:?OCVTKEGUECPGKVJGTDGFGTKXGFD[JCPFQTVJG[ECPDGQDVCKPGFHTQOVJGUWRRQTVTQWVKPGU
:(14/'4$%64#0QT64'.')KPVJG$2#XGTUKQPQHVJG'/626JGNCVVGTVYQUWRRQTVTQWVKPGUYGTG
FGXGNQRGFHQTVJTGGRJCUGWPKVUDWVECPDGWUGFHQTUKPINGRJCUGWPKVUCUYGNN
+PXGTUG+PFWEVCPEG/CVTKZ4GRTGUGPVCVKQPQH5KPING2JCUG6YQCPF6JTGG9KPFKPI6TCPUHQTOGTU
+HVJGGZEKVKPIEWTTGPVKUKIPQTGFVJGPVJGQPN[YC[VQTGRTGUGPVVTCPUHQTOGTUKUYKVJOCVTKEGU=4?CPF=.? 


YJKEJCTGJCPFNGFD[VJG'/62CUFGUETKDGFKP5GEVKQP6JGCWVJQTRTGHGTUVJKUTGRTGUGPVCVKQPQXGTCNNQVJGTU
DGECWUGVJGOCVTKEGU=4?CPF=.? CTGPQVKNNEQPFKVKQPGFCPFDGECWUGCP[XCNWGQHGZEKVKPIEWTTGPVKPENWFKPI\GTQ




ECPDGWUGF6JGDWKNVKPUVCTEKTEWKVKPVJG$2#XGTUKQPQHVJG'/62WUGUVJKUTGRTGUGPVCVKQPKPVGTPCNN[CUYGNN
(QTVJTGGRJCUGVTCPUHQTOGTUVJGEQPXGTUKQPQHVJGVGUVFCVCVQ=4?CPF=.? OCVTKEGUKUDGUVFQPGYKVJVJG


UWRRQTVTQWVKPG$%64#0(QTUKPINGRJCUGWPKVUCPFHQTVJTGGRJCUGVTCPUHQTOGTUYJGTG< .< VJGEQPXGTUKQP


\GTQ

RQU

KUHCKTN[UKORNGCPFECPGCUKN[DGFQPGD[JCPFCUGZRNCKPGFPGZV
6YQ9KPFKPI6TCPUHQTOGTU
(KTUVUGRCTCVGVJGUJQTVEKTEWKVKORGFCPEGKPVQKVUTGUKUVCPEGCPFTGCEVCPEGRCTVYKVJ'S
 6JG=4?CPF
=T.? OCVTKEGUKPRWECPVJGPDGYTKVVGPFQYPD[KPURGEVKQPHTQOVJGGSWKXCNGPVEKTEWKVQH(KI
CHVGTVJG


OCIPGVK\KPIKPFWEVCPEGJCUDGGPTGOQXGF 

=4RW? '

4 RW

4 RW

CPF =T .RW?& '


:RW

&
:RW

&


:RW




:RW

6JGKPXGTUGDTCPEJTGCEVCPEGOCVTKZ=T. ? KUVJGYGNNMPQYPPQFGCFOKVVCPEGOCVTKZQHCUGTKGUDTCPEJYKVJRW


RW

TGCEVCPEG: (QTVJGGZCORNGQH(KIYKVJGZEKVKPIEWTTGPVKIPQTGFVJGRWOCVTKEGUYQWNFDG
RW

=4RW? '





=T.RW?& '

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6JGOCVTKEGUKP'S
 CTGEQPXGTVGFVQCEVWCNXCNWGUYKVJ
=4? '

4 RW8

5TCVKPI

4 RW8


=T .?& '

YKVJ

TCVKPI

8

5TCVKPI
:RW

&

&


8 8


8 8


KP S

KP 5

C

D

8

CRRCTGPVRQYGTTCVKPI

8 8 XQNVCIGTCVKPIU


'S
 EQPVCKPUVJGEQTTGEVVWTPUTCVKQ8 8 +HCNNSWCPVKVKGUCTGVQDGTGHGTTGFVQQPGUKFGUC[UKFGVJGP


UKORN[UGV8 8 KP'S


 6QQDVCKP=.? VJGOCVTKZKP'S
 KUUKORN[OWNVKRNKGFYKVJT


#U CNTGCF[ OGPVKQPGF KP 5GEVKQP  VJG VYQ EQWRNGF DTCPEJGU FGUETKDGF D[ 'S
  ECP CNUQ DG
TGRTGUGPVGFCUUKZWPEQWRNGFDTCPEJGU+IPQTKPIVJGTGUKUVCPEGUHQTVJGUCMGQHVJKUCTIWOGPVCPFUGVVKPI



5TCVKPI

; '

L :RW 8
8
V ' 
8

RTQFWEGUVJGUVGCF[UVCVGDTCPEJGSWCVKQPU
 CPFVJGCNVGTPCVGTGRTGUGPVCVKQPUYKVJWPEQWRNGFDTCPEJGUQH(KI

6JTGG9KPFKPI6TCPUHQTOGTU
5GRCTCVKPI4CPF:KUOQTGEQORNKECVGFPQY6JGTGHQTG4UJCNNDGKIPQTGFKPVJGHQNNQYKPIGZRNCPCVKQPU
4GUKUVCPEGUECPDGKPENWFGFJQYGXGTKHVJGUWRRQTVTQWVKPGU$%64#0QT64'.')CTGWUGF
UGG5GEVKQP
CPF 6JGUVCTVKPIRQKPVKUVJGYGNNMPQYPUVCTEKTEWKVQH(KI+VUTGCEVCPEGUCTGHQWPFHTQOVJGRW
UJQTVEKTEWKVTGCEVCPEGU:

:

*.RW

*6RW

(KI5VCTEKTEWKVHQTVJTGGYKPFKPI
VTCPUHQTOGTYKVJRWXCNWGUDCUGFQPXQNVCIG
TCVKPIUQTYKVJCEVWCNXCNWGUTGHGTTGFVQQPG
UKFG
:

DCUGFQPVJGXQNVCIGTCVKPIUCPFQPGEQOOQPRQYGTDCUG5

.6RW

DCUG

5KPEGVJGRQYGTVTCPUHGTTCVKPIU5 DGVYGGP
*.

*.5 DGVYGGP*6CPF5 DGVYGGP.6CTGWUWCNN[PQVKFGPVKECNCRQYGTDCUGEQPXGTUKQPKUWUWCNN[PGGFGF


*6

+HYGEJQQUG5

.6


KPUCOGWPKVUCURQYGTTCVKPIU5 5 5 VJGP

DCUG

*.

:*RW '
:.RW '




:6RW '




:*.RW
:*.

:.6RW
5.6



:*6RW
5*6

:*.RW

:*6RW
5*6

5*.
%

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5.6



5*6
&

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HQTCWVQVTCPUHQTOGTU+PVJGWPUCVWTCVGFTGIKQPVJGXCNWGUECPDGHCKTN[JKIJ

UJQTV

QPXGT[NCTIGVTCPUHQTOGTU
UGG(KI 
9JKNGKVOCMGUNKVVNGFKHHGTGPEGVQYJKEJVGTOKPCNVJGWPUCVWTCVGFKPFWEVCPEGKUEQPPGEVGF



(KI6YQUNQRGCPFHKXGUNQRGRKGEGYKUGNKPGCTKPFWEVCPEG

(KI5WRGTKORQUGF'/62UKOWNCVKQPTGUWNVUYKVJVYQCPFHKXGUNQRGRKGEGYKUGNKPGCT
KPFWEVCPEG



(KI%QORCTKUQPDGVYGGPUKOWNCVKQPCPFHKGNFVGUVTGUWNVU
KVOC[OCMGCFKHHGTGPEGHQTVJGUCVWTCVGFKPFWEVCPEGDGECWUGQHKVUNQYXCNWG+FGCNN[VJGPQPNKPGCTKPFWEVCPEG
UJQWNFDGEQPPGEVGFVQCRQKPVKPVJGGSWKXCNGPVEKTEWKVYJGTGVJGKPVGITCVGFXQNVCIGKUGSWCNVQVJGKTQPEQTGHNWZ
6QKFGPVKH[VJCVRQKPVKUPQVGCU[JQYGXGTCPFTGSWKTGUEQPUVTWEVKQPFGVCKNUPQVPQTOCNN[CXCKNCDNGVQVJGU[UVGO
CPCN[UV(QTE[NKPFTKECNEQKNEQPUVTWEVKQPKVECPDGCUUWOGFVJCVVJGHNWZKPVJGYKPFKPIENQUGUVVQVJGEQTGYKNN
OQUVN[IQVJTQWIJVJGEQTGUKPEGVJGTGUJQWNFDGXGT[NKVVNGNGCMCIG6JKUYKPFKPIKUWUWCNN[VJGVGTVKCT[YKPFKPI
KPVJTGGYKPFKPIVTCPUHQTOGTUCPFKPUWEJECUGUKVKUVJGTGHQTGDGUVVQEQPPGEVVJGPQPNKPGCTKPFWEVCPEGCETQUUVJG
VGTVKCT[VGTOKPCNU(KIUJQYUVJGUVCTEKTEWKVFGTKXGFD[5EJNQUUGT=?HQTCVTCPUHQTOGTYKVJVJTGGE[NKPFTKECN
YKPFKPIU
6ENQUGUVVQEQTG*HCTVJGUVHTQOEQTG.KPDGVYGGP YJGTGVJGKPVGITCVGFXQNVCIGKPRQKPV#KUGSWCN
VQVJGHNWZKPVJGKTQPEQTG6JGTGCEVCPEGUQHSDGVYGGP#CPF6KUPQTOCNN[PQVMPQYPDWVKVKUUQUOCNN
EQORCTGFVQSDGVYGGP5CPF6VJCVVJGPQPNKPGCTKPFWEVCPEGECPDGEQPPGEVGFVQ6KPUVGCFQH#YKVJNKVVNG
GTTQT(KICNUQKFGPVKHKGUCRQKPV$CVYJKEJVJGKPVGITCVGFXQNVCIGKUGSWCNVQ[QMGHNWZ<KMJGTOCP=?
UWIIGUVUVQEQPPGEVCPQVJGTPQPNKPGCTKPFWEVCPEGVQVJCVRQKPV$VQTGRTGUGPV[QMGUCVWTCVKQP5KPEGSDGVYGGP
*CPF$KUUOCNNEQORCTGFVQSDGVYGGP*CPF5VJKUUGEQPFPQPNKPGCTKPFWEVCPEGEQWNFRTQDCDN[DGEQPPGEVGF
VQ*YKVJQWVVQQOWEJGTTQT6JGMPGGRQKPVCPFVJGUNQRGKPVJGUCVWTCVGFTGIKQPQHVJKUUGEQPFPQPNKPGCT



(KI4GCEVCPEGU
KPS QHCVJTGGYKPFKPIVTCPUHQTOGT

HTQO=?YJKEJRTQXKFGUVJGFCVCHQTE[NKPFTKECN
YKPFKPIUVJGVYQYKPFKPIUHCTVJGUVHTQOVJGEQTGCTG
KIPQTGFJGTG
KPFWEVCPEGCTGJKIJGTVJCPVJQUGQHVJGHKTUVPQPNKPGCTKPFWEVCPEG
(KI 5KPEGKVKUCNTGCF[FKHHKEWNVVQQDVCKP
UCVWTCVKQPEWTXGUHQTVJGEQTGVJKUUGEQPFCT[GHHGEVQH[QMGUCVWTCVKQPKUWUWCNN[KIPQTGF&KEMCPF9CVUQP=?
ECOGVQUKOKNCTEQPENWUKQPUCDQWVVJGRTQRGTRNCEGOGPVQHVJGPQPNKPGCTKPFWEVCPEGYJGPVJG[OGCUWTGFUCVWTCVKQP
EWTXGUQPCVJTGGYKPFKPIVTCPUHQTOGT6CDNGEQORCTGUVJGCKTEQTGKPFWEVCPEG
UNQRGKPUCVWTCVGFTGIKQP
QDVCKPGFHTQONCDQTCVQT[VGUVUYKVJXCNWGUQDVCKPGFHTQOVJGUVCTEKTEWKV KHVJGPQPNKPGCTKPFWEVCPEGKUEQPPGEVGFVQ


VJGVGTVKCT[6QTVQVJGUVCTRQKPV56JGCWVJQTUCNUQUJQYCOQTGCEEWTCVGGSWKXCNGPVEKTEWKVYJKEJYQWNFDGWUGHWN
KH[QMGUCVWTCVKQPQTWPU[OOGVTKGUKPVJGVJTGGEQTGNGIUCTGVQDGKPENWFGF+H. KUEQPPGEVGFVQ6VJGPVJG
O

FKHHGTGPEGUCTGNGUUVJCPvYJGTGCUVJGFKHHGTGPEGUDGEQOGXGT[NCTIGHQTVJGEQPPGEVKQPVQ57PHQTVWPCVGN[
VJGDWKNVKPUCVWTCVKQPEWTXGKPVJG$2#UVCTEKTEWKVTGRTGUGPVCVKQP
UCVWTCDNGVTCPUHQTOGTEQORQPGPV KUCNYC[U
EQPPGEVGFVQVJGUVCTRQKPV6JKUOQFGNEQWNFDGEQOGOQTGWUGHWNKHVJGEQFGYGTGEJCPIGFUQVJCV. EQWNFDG
O

EQPPGEVGFVQCP[VGTOKPCN

 6JKUUVCTEKTEWKVCNUQJCFC\GTQUGSWGPEGKPFWEVCPEGQHRWEQPPGEVGFVQVJGJKIJUKFG
UGG5GEVKQP
 




(KI0QPNKPGCTKPFWEVCPEGUEQPPGEVGFVQ*
[QMGUCVWTCVKQP
CPF.
EQTGUCVWTCVKQP QHCVYQYKPFKPIVTCPUHQTOGT4GRTKPVGF
YKVJRGTOKUUKQPHTQO=?%QR[TKIJV2GTICOQP,QWTPCNU.VF

6JG RTQRGT RNCEGOGPV QH VJG PQPNKPGCT KPFWEVCPEG OC[ QT OC[ PQV DG KORQTVCPV FGRGPFKPI QP VJG
EKTEWOUVCPEGU(QTGZCORNGKHVJGVTCPUHQTOGTQH6CDNGYKVJ. KP5YGTGGPGTIK\GFHTQOVJGJKIJUKFGVJGP
O

VJGCORNKVWFGQHVJGKPTWUJEWTTGPVYQWNFDGEQTTGEV+HKVYGTGGPGTIK\GFHTQOVJGVGTVKCT[UKFGJQYGXGTVJGPVJG
CORNKVWFGQHVJGKPTWUJEWTTGPVYQWNFDGVQQNQYHQTJKIJNGXGNUQHUCVWTCVKQP +HFGVCKNUQHVJGVTCPUHQTOGT


EQPUVTWEVKQPCTGPQVMPQYPVJGPKVKUPQVGCU[VQFGEKFGYJGTGVQRNCEG. +PVJGGZCORNGQH(KIPQ
O

EQPUVTWEVKQPFGVCKNUYGTGMPQYPCPF. YCUUKORN[RNCEGFCETQUUVJGJKIJXQNVCIGVGTOKPCNU+PURKVGQHVJKU
O

UKOWNCVKQPTGUWNVUECOGTGCUQPCDN[ENQUGVQHKGNFVGUVTGUWNVU
5KPING2JCUG6TCPUHQTOGTU
+HVJG=.? OQFGNQH5GEVKQPQTKUWUGFYKVJQWVVJGEQTTGEVKQPUHQTNKPGCTGZEKVKPIEWTTGPVFGUETKDGF


KP5GEVKQPVJGPVJGPQPNKPGCTKPFWEVCPEGKUUKORN[CFFGFCETQUUVJGYKPFKPIENQUGUVVQVJGEQTG+HVJG=.?
OQFGNQH5GEVKQPKUWUGFQTKH=.? JCUCNTGCF[DGGPEQTTGEVGFHQTVJGNKPGCTGZEKVKPIEWTTGPVVJGPCOQFKHKGF


PQPNKPGCTKPFWEVCPEGOWUVDGCFFGFKPYJKEJVJGWPUCVWTCVGFRCTVJCUDGGPUWDVTCEVGFQWV
(KI 6JKUOQFKHKGF
PQPNKPGCTKPFWEVCPEGJCUCPKPHKPKVGUNQRGDGNQYVJGMPGGRQKPV
6CDNG%QORCTKUQPDGVYGGPOGCUWTGFCPFECNEWNCVGFCKTEQTGKPFWEVCPEGUl+'''
CKTEQTGKPFWEVCPEG
RW

GZEKVGF
YKPFKPI

HNWZOGCUWTGF
CV

VGUV

ECNEWNCVGF
YKVJ. KP6
O

 +PTWUJEWTTGPVCRRTQZKOCVGN[RTQRQTVKQPCNVQ.



CKTEQTG

GTTQT

ECNEWNCVGF
YKVJ. KP5
O

GTTQT

HQTHNWZCDQXGMPGGRQKPVKHWPUCVWTCVGF. 

EQTG



.

CKT

*
.
6





















*
.
6





















*
.
6





















/GCUWTGFD[KPVGITCVKPIVJGXQNVCIGCVVJCVVGTOKPCN6JGOGCUWTGFUJQTVEKTEWKVKPFWEVCPEGUYGTG. 
RW. RW. RWYJKEJRTQFWEGUVJGUVCTEKTEWKVKPFWEVCPEGUQH. RW.
RW. RW

*.

*6

.6

6JTGG2JCUG6TCPUHQTOGTU
7UWCNN[QPN[VJGRQUKVKXGUGSWGPEGUCVWTCVKQPEWTXG
QTVJGUCVWTCVKQPEWTXGHQTQPGEQTGNGI KUMPQYP
6JGPKVKUDGUVVQEQPPGEVVJGUCOGPQPNKPGCTKPFWEVCPEGCETQUUGCEJQPGQHVJGVJTGGRJCUGU
GICETQUUVJGVGTVKCT[
VGTOKPCNU6#6$6$6%6%6# 6JKUKORNKGUVJCVVJG\GTQUGSWGPEGXCNWGUCTGVJGUCOGCUVJGRQUKVKXGUGSWGPEG
XCNWGUYJKEJKURTQDCDN[CTGCUQPCDNGCUUWORVKQPHQTVJGHKXGNGIIGFEQTGCPFUJGNNV[RGEQPUVTWEVKQP
(QTVJGVJTGGNGIIGFEQTGFGUKIPVJG\GTQUGSWGPEGHNWZTGVWTPUQWVUKFGVJGYKPFKPIUVJTQWIJCPCKTICR
UVTWEVWTCNUVGGNCPFVJGVCPM(KIUJQYUVJGOGCUWTGF\GTQUGSWGPEGOCIPGVK\CVKQPEWTXGHQTVJGVTCPUHQTOGT
FGUETKDGFKP6CDNG=?$GECWUGQHVJGCKTICRVJKUEWTXGKUPQVPGCTN[CUPQPNKPGCTCUVJGEQTGUCVWTCVKQP
EWTXGQH(KI+VKUVJGTGHQTGTGCUQPCDNGVQCRRTQZKOCVGKVCUCNKPGCTOCIPGVK\KPIKPFWEVCPEG+P=?KVKU
UJQYPVJCVVJKU\GTQUGSWGPEGOCIPGVK\KPIKPFWEVCPEGUJQWNFDGEQPPGEVGFVQVJGJKIJUKFG9KVJVJG=.? OQFGN


VJKUKUCEEQORNKUJGFD[UGVVKPI$ CPFWUKPI$ .


RQU

$ $ $
U

\GTQ

\GTQ

KP'S
 CPFD[CFFKPIVJGZOCVTKZYKVJ

VQVJGZFKCIQPCNDNQEMQHVJGJKIJUKFG 6JKUDWTKGUVJG\GTQUGSWGPEGOCIPGVK\KPI


\GTQ

KPFWEVCPEGKP=.? 6JGRQUKVKXGUGSWGPEG
EQTGNGI PQPNKPGCTKPFWEVCPEG
(KIHQTVJGGZCORNGVCMGPHTQO


=? ECPVJGPCICKPDGCFFGFCETQUUGCEJQPGQHVJGRJCUGU

 $[UGVVKPI$ =.? YKNNTGOCKPUKPIWNCT6JKUECWUGUPQRTQDNGOUKHVJGKPXGTUGKPFWEVCPEGKUWUGF


7UGTUYJQRTGHGT=.?OCVTKEGUYQWNFJCXGVQCFFCPQVJGTZOCVTKZYKVJ$ $ CPF$ $ VQQPG
QHVJGUKFGUYKVJ$ . YJGTG. KUVJGNKPGCT
WPUCVWTCVGF RQUKVKXGUGSWGPEGOCIPGVK\KPIKPFWEVCPEG




RQU

RQU

RQU

RQU



RQU

RQU

(KI5WDVTCEVKQPQHNKPGCT
WPUCVWTCVGF RCTVKP
UCVWTCVKQPEWTXG
XCNWGQH#GSWCNKPDQVJEWTXGU

(KI<GTQUGSWGPEGOCIPGVK\CVKQPEWTXG=?l+'''
*[UVGTGUKUCPF'FF[%WTTGPV.QUUGU
6JGGZEKVCVKQPNQUUGUQDVCKPGFHTQOVJGGZEKVCVKQPVGUVCTGOQUVN[KTQPEQTGNQUUGUDGECWUGVJG+ 4NQUUGU


CTGEQORCTCVKXGN[UOCNNHQTVJGNQYXCNWGUQHVJGGZEKVKPIEWTTGPV6JGUGKTQPEQTGNQUUGUCTGUQOGVKOGUKIPQTGF
DWVVJG[ECPGCUKN[DGCRRTQZKOCVGFYKVJVJGNKPGCTUJWPVEQPFWEVCPEGQH) QH'S
 
O

#NKPGCTUJWPVEQPFWEVCPEG) ECPPQVTGRTGUGPVVJGKTQPEQTGNQUUGUEQORNGVGN[CEEWTCVGN[6JGUGNQUUGU
O

EQPUKUVQHVYQRCTVU
2KTQP&EQTG ' 2J[UVGTGUKU % 2GFF[ EWTTGPV
PCOGN[QHJ[UVGTGUKUNQUUGU2



CPFQHGFF[EWTTGPVNQUUGU2

J[UVGTGUKU

ECPPQVDGUGRCTCVGFCPFQPN[VJGUWO2

KTQPEQTG

+PVJGGZEKVCVKQPVGUVUVJGUGVYQRCTVU

GFF[ EWTTGPV

KUQDVCKPGF$GHQTGFKUEWUUKPIOQTGCEEWTCVGTGRTGUGPVCVKQPUKVKU

WUGHWNVQJCXGUQOGKFGCCDQWVVJGTCVKQDGVYGGPVJGVYQRCTVU4GH=?YJKEJOC[DGUQOGYJCVQWVFCVGFIKXGU
TCVKQUQH
2J[UVGTGUKU2GFF[ EWTTGPV ' 



HQT UKNKEQP UVGGN

2J[UVGTGUKU2GFF[ EWTTGPV '   

HQT ITCKP&QTKGPVGF UVGGN

YJKNGCOQTGTGEGPVTGHGTGPEG=?SWQVGUCV[RKECNTCVKQQH1POQFGTPVTCPUHQTOGTUJ[UVGTGUKUNQUUGUCTG
VJGTGHQTGOWEJNGUUKORQTVCPVVJCPVJG[WUGFVQDGDGHQTGVJGKPVTQFWEVKQPQHITCKPQTKGPVGFUVGGN
+VKUIGPGTCNN[CITGGFVJCVGFF[EWTTGPVNQUUGUCTGRTQRQTVKQPCNVQ8 CPFVQH =?CVNGCUVKPVJGNQY


HTGSWGPE[TCPIGYJKEJUGGOUVQEJCPIGVQH KPVJGJKIJHTGSWGPE[TCPIGDGECWUGQHUMKPGHHGEVKPVJGNCOKPCVKQPU


(TGSWGPE[FGRGPFGPVGFF[EWTTGPVTGRTGUGPVCVKQPUYGTGFKUEWUUGFKP=?YJGTG4 KUTGRNCEGFD[CPWODGTQH
O

RCTCNNGN4.DTCPEJGU+VKUFQWDVHWNYJGVJGTVJKUUQRJKUVKECVKQPKUPGGFGFJQYGXGTDGECWUGVJGTGFWEVKQPECWUGF
D[CRTQRQTVKQPCNKV[EJCPIGHTQOH VQH CVJKIJHTGSWGPEKGUKURTQDCDN[QHHUGVD[QVJGTV[RGUQHNQUUKPETGCUGU
GI




D[KPETGCUGUKPEQKNTGUKUVCPEGFWGVQUMKPGHHGEVGVE #VCP[TCVGNCDQTCVQT[VGUVUYQWNFHKTUVJCXGVQDGFQPGVQ
XGTKH[VJGEQTTGEVPGUUQHVJGHTGSWGPE[FGRGPFGPEGRTQRQUGFKP=?+PUWEJVGUVUKVOC[DGFKHHKEWNVVQUGRCTCVG
GFF[EWTTGPVCPFJ[UVGTGUKUNQUUGU+HYGCEEGRVCRTQRQTVKQPCNKV[YKVJ8 CPFH VJGPCEQPUVCPVTGUKUVCPEG4 FQGU


OQFGNVJGUGNQUUGUXGT[YGNNDGECWUG2

8

GFF[EWTTGPV

4 CPF8


4/#

T 8


4/5


4/5

HQTUKPWUQKFCNGZEKVCVKQP

*[UVGTGUKUNQUUGUCTGCPQPNKPGCTHWPEVKQPQHHNWZCPFHTGSWGPE[
2J[UVGTGUKU ' M
8 C @
H D



+P=?CKUUCKFVQDGENQUGVQHQTITCKPQTKGPVGFUVGGNCPFD+P=?CCPFD+HCD
YGTGWUGFVJGPVJGUWOQHJ[UVGTGUKUCPFGFF[EWTTGPVNQUUGUEQWNFDGOQFGNNGFD[VJGEQPUVCPVTGUKUVCPEG4 QT
O

EQPFWEVCPEG) QH'S
 6JKUKUCTGCUQPCDNGHKTUVCRRTQZKOCVKQP=?GURGEKCNN[KHQPGEQPUKFGTUVJCV
O

J[UVGTGUKUNQUUGUCTGQPN[QHVJGVQVCNKTQPEQTGNQUUGUKPVTCPUHQTOGTUYKVJITCKPQTKGPVGFUVGGN(KI
C
UJQYUVJGPQPNKPGCTKPFWEVCPEGQHCEWTTGPVVTCPUHQTOGTYJKEJYCUWUGFD[%6C[NQTVQFWRNKECVGHKGNFVGUVTGUWNVU
KPCECUGYJGTGVJGUGEQPFCT[EWTTGPVYCUFKUVQTVGFD[UCVWTCVKQPGHHGEVU=?(KI
D UJQYU8CUCHWPEVKQP
QHVJGGZEKVKPIEWTTGPVKPVJGVTCPUKGPVUKOWNCVKQPKHKTQPEQTGNQUUGUCTGOQFGNNGFYKVJCEQPUVCPVTGUKUVCPEG4 
O

S+VECPDGUGGPVJCV4 PQVQPN[ETGCVGUVJGV[RKECNUJCRGQHCPQTOCNOCIPGVK\CVKQPEWTXG
YKVJNQYGTF8FK
O

EQOKPIQWVQHVJGQTKIKPEQORCTGFVQ8H
K KP(KI
C DWVCNUQETGCVGUOKPQTNQQRUYKVJTGCUQPCDNGUJCRGU



0QPNKPGCTOCIPGVK\KPI
QHEWTTGPVVTCPUHQTOGT

.QQRUETGCVGFD[EQPUVCPV4
HQTJ[UVGTGUKUCPFGFF[
EWTTGPVNQUUGU

(KI5CVWTCVKQPKPEWTTGPVVTCPUHQTOGT=?4GRTKPVGFD[RGTOKUUKQPQH
%96C[NQT
+HVJGHNWZEWTTGPVNQQR HQTUKPWUQKFCNGZEKVCVKQPKUCXCKNCDNGVJGP4 ECPCNUQDGECNEWNCVGFHTQO


4O '

X
)K



CUCPCNVGTPCVKXGVQ'S
 YKVJ)KDGKPIJCNHQHVJGJQTK\QPVCNYKFVJQHVJGNQQRCV8
(KI CPFX
T8

'S
 KUFGTKXGFHTQOTGCNK\KPIVJCVCV8CNNVJGEWTTGPVOWUVHNQYVJTQWIJVJGRCTCNNGNTGUKUVCPEG

OCZ

4 CPFVJCVVJGXQNVCIGTGCEJGUKVURGCMXCNWGT8
O

CV8DGECWUGQHVJGERJCUGUJKHVDGVYGGPXQNVCIGCPF

OCZ

HNWZ
+HOQTGXCNWGUQH)KCTGWUGFCVXCTKQWURQKPVUCNQPIVJG8CZKUVQIGVJGTYKVJVJGEQTTGURQPFKPIXCNWGUHQT
XF8FVVJGPCTGUKUVCPEG4 ECPDGEQPUVTWEVGFYJKEJDGEQOGUPQPNKPGCT6JKURCTCNNGNEQODKPCVKQPQHPQPNKPGCT
O

TGUKUVCPEGCPFPQPNKPGCTKPFWEVCPEGJCUDGGPRTQRQUGFD[.1%JWCCPF-#5VTQOUOQG=?VQOQFGNHNWZ
EWTTGPVNQQRUECWUGFD[J[UVGTGUKUCPFGFF[EWTTGPVGHHGEVU6JG[IKXGEQPXKPEKPICTIWOGPVUYJ[VJKUTGRTGUGPVCVKQP
KUTGCUQPCDNG+PRCTVKEWNCTVJG[FKFOCMGEQORCTKUQPUDGVYGGPUKOWNCVKQPUCPFNCDQTCVQT[VGUVUPQVQPN[HQTC
UOCNNCWFKQQWVRWVVTCPUHQTOGTYKVJNCOKPCVGFUKNKEQPUVGGNDWVHQTCUWRGTOCNNQ[EQTGKPFWEVQTCUYGNN(KI
UJQYUVJGPQPNKPGCTKPFWEVCPEGUCPFTGUKUVCPEGUHQTVJKUCWFKQQWVRWVVTCPUHQTOGT=?(KIEQORCTGUVJG
NCDQTCVQT[VGUVTGUWNVUYKVJUKOWNCVKQPTGUWNVU=?
HKTUVTQYNCDQTCVQT[TGUWNVUUGEQPFTQYUKOWNCVKQPTGUWNVU (KI

 6JGCWVJQTKUTGNWEVCPVVQECNNKVJ[UVGTGUKUNQQRDGECWUGVJGNQUUGUCUUQEKCVGFYKVJVJKUNQQRCTGVJGUWOQH
J[UVGTGUKUCPFGFF[EWTTGPVNQUUGUYKVJVJGNCVVGTCEVWCNN[DGKPIVJGNCTIGTRCTVKPVTCPUHQTOGTUYKVJITCKP
QTKGPVGFUVGGN





C KUCHCOKN[QHHNWZEWTTGPVNQQRUHQT*\UKPWUQKFCNHNWZNKPMCIGQHXCTKQWUCORNKVWFGU(KI
D UJQYU
VYQNQQRUQPGYKVJCUKPWUQKFCNHNWZNKPMCIGCPFVJGUGEQPFYKVJCUKPWUQKFCNEWTTGPV(KI
E KUCHCOKN[QH
NQQRUQDVCKPGFCV*\HQTXCTKQWUCORNKVWFGUQHUKPWUQKFCNEWTTGPV(KI
F UJQYUCHCOKN[QHNQQRUHQT
UKPWUQKFCNHNWZNKPMCIGUCVCPF*\+PCNNECUGUVJGCITGGOGPVDGVYGGPOGCUWTGOGPVUCPFUKOWNCVKQP
TGUWNVUKUGZEGNNGPV6JGOKPQTNQQRUKP(KI
G YGTGQDVCKPGFYKVJC*\UKPWUQKFCNEWTTGPVUWRGTKORQUGF
QPCFEDKCUEWTTGPV#ICKPVJGTGCRRGCTUVQDGGZEGNNGPVCITGGOGPV

(KI(NWZEWTTGPVNQQR
6JGOCLQTFTCYDCEMQHVJKUEQTGNQUUTGRTGUGPVCVKQPYKVJCNKPGCTQTPQPNKPGCTTGUKUVCPEGKUKVUKPCDKNKV[VQ
RTQFWEGVJGEQTTGEVTGUKFWCNHNWZYJGPVJGVTCPUHQTOGTKUUYKVEJGFQHH6JKUYCUQPGQHVJGOQVKXCVKQPUHQTVJG
FGXGNQROGPVQHOQTGUQRJKUVKECVGFJ[UVGTGUKUOQFGNUDWVGXGPVJGUGOQFGNUFQPQVUGGOVQRTQFWEGVJGTGUKFWCNHNWZ
XGT[CEEWTCVGN[6JKUYTKVGTDGNKGXGUVJCVVJGTGCTGPQOQFGNUCXCKNCDNGCVVJKUVKOGYJKEJECPRTGFKEVTGUKFWCNHNWZGU
TGNKCDN[ CPF VJCV TGCUQPCDNG CUUWORVKQPU UJQWNF VJGTGHQTG DG OCFG  6JGTG KU PQ FKHHKEWNV[ YKVJ VJG NKPGCT QT
PQPNKPGCT4 TGRTGUGPVCVKQPKPUVCTVKPICVTCPUKGPVUKOWNCVKQPYKVJCTGUKFWCNHNWZKHKVUXCNWGKURTQXKFGFCUKPRWVFCVC
O

CUGZRNCKPGFKP5GEVKQP



(KI/QFGNHQTGZEKVKPIEWTTGPVYKVJRCTCNNGNPQPNKPGCTTGUKUVCPEGUCPFKPFWEVCPEGU
=?l+'''

6JGOQTGUQRJKUVKECVGFOQFGNUOGPVKQPGFCDQXGWUGRTGFGHKPGFVTCLGEVQTKGUQTVGORNCVGUKPVJG8KRNCPG
VQFGEKFGKPYJKEJFKTGEVKQPVJGEWTXGYKNNOQXGKHVJGHNWZGKVJGTKPETGCUGUQTFGETGCUGU=?6JGVGEJPKSWG
QH=?JCUDGGPKORNGOGPVGFKPVJG$2#'/62
RUGWFQNKPGCTJ[UVGTGVKETGCEVQT DWVCECTGHWNEQORCTKUQPYKVJ
VJGUKORNGT4 TGRTGUGPVCVKQPU
GKVJGTNKPGCTQTPQPNKPGCT JCUPQV[GVDGGPFQPG/QTGTGUGCTEJOC[DGPGGFGF
O

DGHQTGTGNKCDNGJ[UVGTGUKUOQFGNUDGEQOGCXCKNCDNG5WEJOQFGNUOC[DGDCUGFQPVJGFWCNKV[DGVYGGPOCIPGVKECPF
GNGEVTKEEKTEWKVUYJKEJYQWNFVJGPTGSWKTGVJGFKOGPUKQPUQHVJGKTQPEQTGCUKPRWVFCVC=?QTVJG[OC[DGDCUGF
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