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XLI QEWW SJ [EXIV RIIHIH JSV QM\MRK F] XLI [GQ -J XLI EVITEVXMEPP]SVIRXMVIP]SJJWIXF]VIHYGXMSRSJQM\MRK[EXIV
WTIGMJMGEXMSRWJSVXLINSFGSRXEMREQMRMQYQGIQIRXMXMSYW VIUYMVIQIRXWXLEXVIWYPXJVSQEMVIRXVEMRQIRX
QEXIVMEPGSRXIRXVIUYMVIQIRXXLIGSVVIWTSRHMRK[GQJSV 8LIVIUYMVIHEZIVEKIWXVIRKXLRIGIWWEV]XSIRWYVIXLIWXVIRKXL
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SJ [EXIV F] XLI QEWW SJ XLI GIQIRXMXMSYW QEXIVMEP 8LI SZIVEPPSTIVEXMSRWMRZSPZIHMRXLITVSHYGXMSRERHXIWXMRKSJXLI
PS[IWXSJXLIXLVII[GQ{XLSWIJSVHYVEFMPMX]WXVIRKXLSV GSRGVIXI 7II %'- JSV E GSQTPIXI KYMHI -J JPI\YVEP
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GEPGYPEXMRKGSRGVIXITVSTSVXMSRW XLIVIPEXMSRWLMTFIX[IIR[GQERHJPI\YVEPWXVIRKXLWLSYPH
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FI FIRIJMGMEP MR IRWYVMRK HYVEFPI GSRGVIXI MR EHHMXMSR XS
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LEVWLRIWW [MXL RS MRGVIEWI MR [EXIV %MVIRXVEMRIH GSRGVIXI 8LIPEVKIWXUYERXMX]SJGSEVWIEKKVIKEXITIVYRMXZSPYQI
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GVMXMGEPP] WEXYVEXIH GSRHMXMSR %781 ' XIWXMRK FIJSVI MWHIJMRIHEWXLIEFMPMX]XSEHIUYEXIP]GSRWSPMHEXIXLIQM\XYVI
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KVEHIH[MXLMRGSRZIRXMSREPPMQMXW'LERKIWMRXLIGSRWMW SJ XLI ZSPYQI SJ GSEVWI EKKVIKEXI TIV YRMX ZSPYQI SJ
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EQSYRXSJGSEVWIEKKVIKEXITIVYRMXZSPYQISJGSRGVIXI%W TIVGIRXEKISJXLIZEPYIWWLS[RMR*MK8LIMRJSVQEXMSR
KVIEXIV EQSYRXW SJ GSEVWI EKKVIKEXI TIV YRMX ZSPYQI EVI GSRXEMRIHMRXLIWIX[SJMKYVIWTVSZMHIWEFEWMWJSVWIPIGXMRK
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YWMRKXLIJMVWXQIXLSHXLIWIGSRHQIXLSHMWPMQMXIHJSV
YWI SR XLSWI QM\XYVIW GSRXEMRMRK QQ MR
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WQEPPIV217%4VSTSVXMSRWHIXIVQMRIHF]XLIYWISJIMXLIV
TVSGIHYVIWLSYPHVIWYPXMRQM\XYVIWXLEXGSRXEMRWYJJMGMIRX
TEWXIZSPYQIXSJMPPZSMHWFIX[IIREKKVIKEXITEVXMGPIWERH
GSEXMRHMZMHYEPEKKVIKEXITEVXMGPIW
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WTIGMJMIH PMQMXW SJ GSRWMWXIRG]{8LMW QIXLSH YWIW XLI
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QIEWYVIH ERH GSQTEVIH [MXL JMIPHGSQTEGXMSR XIWXW
GSRHYGXIH[MXLZMFVEXSV]VSPPIVW8LIHIWMVIHXMQIMWHIXIVQMRIH
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KVEHMRK217%JMRIEKKVIKEXIGSRXIRXERHGSRXIRXSJQEXIVMEP
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217% KIRIVEPP]
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GSRXEMRMRKGPIERWERHWJM\IHEKKVIKEXIKVEHMRKERHQQ TVIWWMZIWXVIRKXLSJQEWWGSRGVIXI
MR
SV WQEPPIV 217% XS FI YWIH JSV LSVM^SRXEP
GSRWXVYGXMSRETTPMGEXMSRWVIUYMVIETTVS\MQEXIP]XSWXS JSYRHXSFIEWYMXEFPIQIERWSJHIXIVQMRMRKXLI[GQVIUYMVIH
JYPP]GSRWSPMHEXI JSV WXVIRKXL GSRWMHIVEXMSRW 3RGI QSVXEV MW TVSTSVXMSRIH XS
% ;EXIV GSRXIRX{8LSWI QM\XYVIW [MXL TEWXI QIIXWXVIRKXLVIUYMVIQIRXW ZEV]MRKTIVGIRXEKIW SJQSVXEV
ZSPYQIW MR I\GIWW SJ EKKVIKEXI ZSMH ZSPYQIW [MPP JYPP] ERHGSEVWIEKKVIKEXIGERFITVSTSVXMSRIHXSEGLMIZIEKMZIR
GSRWSPMHEXIXSETTVS\MQEXIP] SJXLIMVXLISVIXMGEPHIRWM [SVOEFMPMX]EWQIEWYVIHF]:IFIXMQI8LIWIHIXIVQMREXMSRW
XMIWEWHIJMRIHF]%781':EVMEXMSRWMRQM\XYVI[EXIV EVIFEWIHYTSRXLIQSVXEVVIUYMVIHTIVYRMXZSPYQISJ6''
GSRXIRXW[MPPHMVIGXP]EJJIGXXLIGSQTEGXMZIIJJSVXVIUYMVIHXS % *MRIEKKVIKEXIGSRXIRX{8LIZSMHGSRXIRXSJ
EGLMIZIJYPPGSRWSPMHEXMSR8LISTXMQYQ[EXIVGSRXIRXSJE JMRI EKKVIKEXI EW HIXIVQMRIH MR HV]VSHHIH HIRWMX]
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WTIGMJMIH WXVIRKXL FSRH VIUYMVIQIRX FIX[IIR PE]IVW ERH HIRWMX] SJ XLI QSVXEV WTIGMQIRW QE] FI HIXIVQMRIH 8LI
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KYMHIXSTVSTSVXMSRIUYEPWXVIRKXL6''JSVZEV]MRKTVSTSVXMSRW QSVXEVXSEGLMIZIE^IVSWPYQT3RGIXLIGSEVWIEKKVIKEXI
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6 %'-'311-88))6)4368
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7XIT {(IXIVQMRI XLI QMRMQYQ TEWXI GSRXIRX 48 EW E XSEGLMIZIQE\MQYQGSQTEGXIHHIRWMX]
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6 %'-'311-88))6)4368
8EFPI%{6IGSQQIRHIH6''TEZIQIRX ERHWLSYPHFIHIXIVQMRIHMREGGSVHERGI[MXL%781'
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