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4:' MRWYPEXMSR SZIV [LMGL XLIVI MW E WPIIZI SJ GSTTIV QIWL 8LI GSTTIV QIWL

AN

WPIIZI MW WLMIPHIH EKEMR F] ER SYXIV WLMIPH SJ XLMGO 4:' QEXIVMEP 7MKREP MW

XVERWQMXXIH F] MRRIV GSTTIV [MVI ERH MW IPIGXVMGEPP] WLMIPHIH F] XLI SYXIV GSTTIV

3TXMGEP *MFIVW

ES

MMM

QIWL WPIIZI

G
G

3TXMGEP JMFIVW EVI LEMVXLMR XLVIEHW SJ KPEWW SV TPEWXMG YWIH EW HEXE XVERWQMWWMSR
QIHMYQ PMOI GSTTIV [MVIW SV GSE\MEP GEFPIW ,S[IZIV YRPMOI GSTTIV [MVIW SV GSE\MEP
GEFPIW XLI] XVERWQMX PMKLX WMKREPW MRWXIEH SJ IPIGXVMGEP WMKREPW %W PMKLX XVEZIPW QYGL
JEWXIV XLER IPIGXVMGMX] STXMGEP JMFIVW GER XVERWQMX HEXE EX QYGL LMKLIV WTIIH XLER

SU

GSTTIV [MVIW SV GSE\MEP GEFPIW [MXL RS WMKRMJMGERX PSWW SJ MRXIRWMX] SZIV PSRK
HMWXERGIW
!
5  G 2IX[SVO 8]TIW 0%2 ;%2 
2IX[SVOW EVI GPEWWMJMIH FVSEHP] MRXS X[S X]TIW PSGEPEVIE RIX[SVOW 0%2W ERH [MHIEVIE
RIX[SVOW ;%2W  ;%2W EVI EPWS VIJIVVIH XS EW PSRKLEYP RIX[SVOW /I] GLEVEGXIVMWXMGW
SJXIR YWIH XS HMJJIVIRXMEXI FIX[IIR XLIWI X[S X]TIW SJ RIX[SVOW EVI


+ISKVETLMG HMWXVMFYXMSR % 0%2 MW VIWXVMGXIH XS E PMQMXIH KISKVETLMG GSZIVEKI SJ E

JI[ OMPSQIXIVW FYX E ;%2 QE] I\XIRH SZIV WIZIVEP XLSYWERH OMPSQIXIVW 8LIVIJSVI
0%2W X]TMGEPP] TVSZMHI GSQQYRMGEXMSR JEGMPMXMIW [MXLMR E FYMPHMRK SV E GEQTYW
[LIVIEW ;%2W QE] STIVEXI REXMSR[MHI SV IZIR [SVPH[MHI



(EXE VEXI (EXE XVERWQMWWMSR VEXIW EVI YWYEPP] QYGL LMKLIV MR 0%2W XLER MR ;%2W
8VERWQMWWMSR VEXIW MR 0%2W YWYEPP] VERKI JVSQ  1IKEFMX TIV WIGSRH 1FTW XS 
+MKEFMX TIV WIGSRH +FTW  3R XLI SXLIV LERH XVERWQMWWMSR VEXIW MR ;%2W YWYEPP]
VERKI JVSQ  FTW XS  1FTW 8LI HEXE XVERWQMWWMSR VEXIW EVI MRGVIEWMRK
GSRXMRYSYWP] JSV FSXL 0%2W ERH ;%2W [MXL EHZERGIQIRXW MR XIGLRSPSK]
8LI WYKKIWXIH ERW[IVW TVSZMHIH SR ERH QEHI EZEMPEFPI XLVSYKL XLI -RWXMXYXI W [IFWMXI QE] SRP] FI VIJIVVIH VIPMIH YTSR SV XVIEXIH EW E KYMHI ERH WYFWXMXYXI JSV
TVSJIWWMSREP EHZMGI 8LI -RWXMXYXI HSIW RSX XEOI ER] VIWTSRWMFMPMX] EFSYX XLIEGGYVEG] GSQTPIXIRIWWSVGYVVIRG]SJ XLI MRJSVQEXMSRTVSZMHIHMR XLIWYKKIWXIH ERW[IVW
8LIVIJSVIXLI-RWXMXYXIMWRSXPMEFPIXSEXXIRHSVVIGIMZIER]GSQQIRXWSFWIVZEXMSRWSVGVMXMGWVIPEXIHXSXLIWYKKIWXIHERW[IVW

79++)78)( %27;)67 ;-8, 1%6/-2+ 40%2

746-2+ %9+978  )<%1-2%8-327

 SJ 

-RXVSHYGXMSR XS -RJSVQEXMSR 8IGLRSPSK] 7XEKI

1%6/7


)VVSV VEXI 0%2W KIRIVEPP] I\TIVMIRGI JI[IV HEXE XVERWQMWWMSR IVVSVW XLER ;%2W HS
8]TMGEPP] FMX IVVSV VEXIW EVI MR XLI VERKI SJ  XS  [MXL 0%2W EW STTSWIH XS  
XS  [MXL ;%2W



'SQQYRMGEXMSR PMRO 8LI QSWX GSQQSR GSQQYRMGEXMSR PMROW YWIH MR 0%2W EVI
X[MWXIH TEMV GSE\MEP GEFPI ERH JMFIV STXMGW 3R XLI SXLIV LERH X]TMGEP GSQQYRMGEXMSR
PMROW YWIH MR ;%2W EVI XIPITLSRI PMRIW QMGVS[EZI PMROW ERH WEXIPPMXI GLERRIPW
FIGEYWI XLI RSHIW EVI TL]WMGEPP] HMWXVMFYXIH SZIV E PEVKI KISKVETLMG EVIE



3[RIVWLMT % 0%2 MW S[RIH X]TMGEPP] F] E WMRKPI SVKERM^EXMSR FIGEYWI SJ MXW PMQMXIH

KISKVETLMG GSZIVEKI % ;%2 LS[IZIV MW JSVQIH YWYEPP] F] MRXIVGSRRIGXMRK QYPXMTPI



SW
ER
S

0%2W IEGL SJ [LMGL QE] FIPSRK XS E HMJJIVIRX SVKERM^EXMSR

'SQQYRMGEXMSR GSWX 8LI GSWX SJ XVERWQMXXMRK HEXE MR E 0%2 MW RIKPMKMFPI WMRGI
XVERWQMWWMSR QIHMYQ MW S[RIH YWYEPP] F] YWIV SVKERM^EXMSR ,S[IZIV [MXL E ;%2
XLMW GSWX QE] FI ZIV] LMKL FIGEYWI XVERWQMWWMSR QIHME YWIH EVI PIEWIH PMRIW SV
TYFPMG GSQQYRMGEXMSR W]WXIQW WYGL EW XIPITLSRI PMRIW QMGVS[EZI PMROW ERH

AN

WEXIPPMXI GLERRIPW

SU

G
G

ES

8,) )2(!

8LI WYKKIWXIH ERW[IVW TVSZMHIH SR ERH QEHI EZEMPEFPI XLVSYKL XLI -RWXMXYXI W [IFWMXI QE] SRP] FI VIJIVVIH VIPMIH YTSR SV XVIEXIH EW E KYMHI ERH WYFWXMXYXI JSV
TVSJIWWMSREP EHZMGI 8LI -RWXMXYXI HSIW RSX XEOI ER] VIWTSRWMFMPMX] EFSYX XLIEGGYVEG] GSQTPIXIRIWWSVGYVVIRG]SJ XLI MRJSVQEXMSRTVSZMHIHMR XLIWYKKIWXIH ERW[IVW
8LIVIJSVIXLI-RWXMXYXIMWRSXPMEFPIXSEXXIRHSVVIGIMZIER]GSQQIRXWSFWIVZEXMSRWSVGVMXMGWVIPEXIHXSXLIWYKKIWXIHERW[IVW