Cancioneirojumasbrasilsemcifras 170911213037

ϭϰϰ 1E/'Z>

^YhD^h,^;:j>/K Ϯϱϲ dDZ/ ϭϮϲ
&/EK͕>h^'Z/Ϳ d>KhsKDsZ ϭϱϵ
^'hZEDKh^ ϭϮϰ dE,K^h^ ϯϮ
^DWZ&K^ddh ϭϮϯ
dh^Kh ϲϯ
Ê,KZs/ ϭϱϱ
Ê,KZZ/ ϭϰ dZ^K^^ Ϯϭϱ
Ê,KZÊdK ϲϳ dhDKZ;^ĂŶƚŝĂŐŽĂĐĂǀĞůŽƐͿ Ϯϱϵ
Ê,KZYhs/^d^^>sZ ϯϬ dj^sEKZ Ϯϭϲ
Ê,KZdhKE Ϯϭϭ dhW>sZ^^/D ϱϭ
Ê,KZ͕h^dKhYh/ Ϯϵ
dhKKW/ ϭϮϳ
Ê,KZ͕YhDEdZZ͍ ϭϵ
Ê,KZ͕dEW/EM^ ϯϭ hD>/K;ůĚĞƌ^ĞŵƉƌĞďŽŵͿ ϮϲϬ
^HKZ>>KD ϮϭϮ hDKZKWZDZ;WZ ϲϰ
^,>KD ϳϲ /E,KͿ
^,D/^Z>;^hd/^Z>Ϳ ϱϬ hE>>DDKZ;WĂŶĐŚƵĐŽͿ Ϯϲϭ
^/KDh>d/KZ;ĂŶŝĞůsĞŶƚƵƌĂ͕ Ϯϱϳ sDK^KZͲ>K;DK^ ϮϬ
^ĂŶƚŝĂŐŽƌƌŝŽůĂͿ ^Ϳ
^MDd/s/sZ;^K/^^͘͘͘Ϳ ϲϮ sDKÊdZ Ϯϭϳ
^MWKZd/͕:^h^ ϭϱϳ
sZKE^'EZ/ME ϮϲϮ
^K:Zh^>D;tĂůĚĞĐŝ&ĂƌŝĂƐ͕ ϲϭ
ŽŵEĂǀĂƌƌŽͿ sDDZ/sD;WĞ͘:ŽŶĂƐďŝďͿ ϭϴϴ
^K>dKKEh Ϯϭϯ sD^Z&>/ Ϯϲϯ
^KDK^:D͕^KDK^/'>^/;DĂŶƵ Ϯϭϰ sD͕hDK^dZZ/;tĂůĚĞĐŝ ϭϮϴ
>ŽƉĞǌEĂŽŶͿ &ĂƌŝĂƐͿ
^KEͲD ϭϱϲ sE,K͕Ê,KZ ϲϱ
^KE,KW ϳϳ
s/E͕Z/^dK^;'>MZ/Ϳ ϮϳϬ
^dd;DĂŶƵ>ŽƉĞǌEĂŽŶͿ Ϯϱϴ
^h/K>^/MDKZK;DĂŶƵ>ŽƉĞǌ ϭϮϱ s/sKÊ,KZ Ϯϭϴ
EĂŽŶͿ sKhdK&ZZ ϲϲ
dK^h>/D^ZDEdK ϭϱϴ sh>;WĞ͘ŐƵƐƚŝŶůǀĂƌĞǌͿ ϭϲϰ

Ϯ 1E/'Z> ϭϰϯ

DZ/>/E;WĞ͘ĞǌŝŶŚŽͿ ϭϳϳ W/&hEKZ;>ĂŶĚǇ͕ϭϵϴϰͿ Ϯϰϵ
DZ/h^͕Ê,KZW ϭϭϭ W/EK^^K ϭϰϵ
DZ1>>/E;WĞ͘WĂĐŚĞĐŽͿ ϭϳϴ WKs/;WĞ͘:ŽŶĂƐďŝďͿ ϭϭϴ
DZ/EZ ϭϳϵ W͕WZ/^dK ϳϰ
DZ/KE:K ϭϴϬ W'KWZ'Z/E;'ĂďƌŝĞůƵƚƌĂ͕ ϮϱϬ
DZ1DZ ϭϴϭ dĂŚşƐƵƚƌĂͿ
D^>>>DZ Ϯϰϰ W>K^WK^ Ϯϱ

D^dZ ϭϭϮ WZKK:hD^;ŶĐŽŶƚƌŽĚĞ Ϯϲ
ƐƚĞĐĂŶĐŝŽŶĞŝƌŽĐŽŶƚĠŵĂƐƉƌŝŶĐŝƉĂŝƐŵƷƐŝĐĂƐĐĂŶƚĂĚĂƐƉĞůĂ DhKZKWZd/ ϱϳ DƷƐŝĐŽƐDĂƌŝŶŐĄͿ
DhW/ ϭϭϯ WZKÊ,KZ͕dEdK^ZZK^ Ϯϳ
:ƵǀĞŶƚƵĚĞDĂƐĐƵůŝŶĂĚĞ^ĐŚŽĞŶƐƚĂƚƚŶŽƐĚŝǀĞƌƐŽƐůƵŐĂƌĞƐĚŽ D/>'ZDKZ͘ ϭϭϰ KDd/
ƌĂƐŝů͘ D/E,s/dDÊd/K ϱϴ WZ&/dKYhDdZ/Kh ϭϴϰ
D/^Z/MZ/ Ϯϰ W/KE/ZK Ϯϱϭ
ĨƌƵƚŽĚĞŵƵŝƚŽĞƐĨŽƌĕŽĞĚĞĚŝĐĂĕĆŽ͕ƌĞĂůŝǌĂĚŽĚƵƌĂŶƚĞϮϬϭϭ͕ D/^/KEZK;DĂŶƵ>ŽƉĞǌEĂŽŶͿ ϮϬϱ WK^Z/EZ ϭϱϬ
D/^^KWM^dK>K ϭϭϱ WKZYh>s/s ϭϱ
ĞĂƉƌĞƐĞŶƚĂĚŽŶŽ&ſƌƵŵEĂĐŝŽŶĂůĚŽ:hD^ĞŵŽŶĨŝŶƐͬ,͘ D/^^K:KsD;ĂƌŽůDŽƌĂĞƐĚĞ ϮϬϲ WKsKh^ ϭϮ
KůŝǀĞŝƌĂͿ WZ1E/WW ϭϱϭ
ŐƌĂĚĞĐĞŵŽƐĂƚŽĚŽƐŽƐƋƵĞĨŝǌĞƌĂŵƉĂƌƚĞĚĂƋƵŝƉĞĚĞ KDhEKdKKEK^^KDWK Ϯϰϴ WZKsDKZ ϭϭϵ
d>,;ZĂĨĂĞů&ůĂƵƐŝŶŽͿ WZKs/E/;&ŝůŝƉĞĚĞ&ƌĞŝƚĂƐ ϮϱϮ
ĞůĂďŽƌĂĕĆŽĞĂŽƐƋƵĞĚĞĂůŐƵŵĂŵĂŶĞŝƌĂĚĞƌĂŵƐĞƵĂƉŽŝŽ͘
EKD/^WZsK>dZ;WĞ͘:ŽŶĂƐ ϭϰϱ ƌĂƵũŽͿ
ďŝďͿ WhZdWdZ Ϯϱϯ
ŽŵƵƐŽ͊sĂŵŽƐŝŶĐĞŶĚŝĂƌŽƌĂƐŝůĐŽŵŶŽƐƐĂƐĐĂŶĕƁĞƐ͊͊͊ EKDE^KD/E,Z ϮϬϳ YhK'ZE^dh ϭϮϬ
E^hͲEK^,K:;EdZͿ Ϯϲϴ YhD^dYhsE ϭϴϱ
E^d>dZ ϱϵ YhDWZ^hs/ ϭϱϮ
E/E'hDdDKDKh;DĂƌƚŝŶ ϭϭϲ EKEdZZ
sĂůǀĞƌĚĞͿ YhZ/Dd;>ƵĐĂƐ^ŝĚƵŽƐŬŝͿ Ϯϱϱ
ƋƵŝƉĞĚĞĞůĂďŽƌĂĕĆŽ͗
EK,zDKZD^'ZE;WĞ͘ ϭϭϳ YhZK,K:DEdZ'Z;'ĂďƌŝĞů Ϯϱϰ
ŶƌŝƋƵĞĂĨŽŶƐĞĐĂͿ ƵƚƌĂ<ƌĞůŝŶŐͿ
'ĞƌƐŽŶ^ŝůǀĂ&ŝŐƵĞŝƌĞĚŽʹ^ĆŽĞƌŶĂƌĚŽĚŽĂŵƉŽͬ^W EKDhZ^,ZDEK;DĂŶƵ>ŽƉĞǌ ϯϯ YhZKDZ'h>,Z ϭϱϯ
EĂŽŶͿ YhZKdZW ϳϱ
&ŝůŝƉĞĚĞ&ƌĞŝƚĂƐƌĂƵũŽʹƌĂƌĂƋƵĂƌĂͬ^W EK/d&>/;&ƌĂŶǌ'ƌƵďĞƌͿ Ϯϲϵ Yh/ZKEdZ;&ĞĚĞWŝĞĚƌĂďƵĞŶĂͿ ϭϲ
EK/d^dZ/K/Z^ ϭϰϲ Yh/ZK^ZÊdK ϭϱϰ
ZĂĨĂĞůĚƵĂƌĚŽĚĞKůŝǀĞŝƌĂ&ůĂƵƐŝŶŽʹWŽĕŽƐĚĞĂůĚĂƐͬ^W EK^^ZKs/sZ;>ĂŶĚǇͿ Ϯϰϱ Z/E>D/^/ME;:ƵĂŶĠƐĂƌ ϭϴϲ
EKs'ZK;'ĞƌƐŽŶ^ŝůǀĂ Ϯϰϲ &ĞĚŝƵŬͬŽŶƐƵWŝŶƚŽͿ
&ŝŐƵĞŝƌĞĚŽͿ ZE/Ͳ>,:s ϰϵ
>ƵĐĂƐ^ŝĚƵŽƐŬŝʹ&ƌĞĚĞƌŝĐŽtĞƐƚƉŚĂůĞŶͬZ^ EKs^dK^^K/^^ ϮϬϴ ZEKsͲD Ϯϴ
Eh^dZ>/E ϭϴϯ ZhE/K^Yh/ ϭϳ
&ĞƌŶĂŶĚŽ,ĞŶƌŝƋƵĞZŽĚƌŝŐƵĞƐ^ĂŶƚŽƐʹ/ďŝƉŽƌĆͬWZ Ehs^W>z^;:KYh1E Ϯϰϳ ^^͕Ê,KZ ϲϬ
Êd/s/'KͿ ^ZDEdKKDhE,K ϭϮϭ
:ƷůŝŽ&ĂďŝĂŶŽZŽĚƌŝŐƵĞƐĨŽŶƐŽʹĞƐƚƵĚĂŶƚĞĚŽƐWĂĚƌĞƐĚĞ KDh>h'ZKh ϮϬϵ ^>DKϮϮͲW>K^WZK^ ϭϮϮ
KD/^dZ/KdZ/E;t>D/Z ϭϰϳ DW/E^;&ƌĞŝ&ĂďƌĞƚŝ͕K&DͿ
^ĐŚŽĞŶƐƚĂƚƚ >EZͿ ^>DK>Z/KE ϭϴ
KEK^^K'EZ> ϮϭϬ ÊdK;/DdKK^KÊ:K^Ϳ ϳϬ
KE'ZE^ZWYhEK ϭϰϴ ÊdK;:h^dK͕&KZdͿ ϲϴ
;DĂŶƵ>ŽƉĞǌEĂŽŶͿ ÊdK;:sͿ ϳϭ
KZKW>&D1>/;WĞ͘ĞǌŝŶŚŽͿ ϭϯ ÊdK͕h^KhE/sZ^K ϲϵ

ϭϰϮ 1E/'Z> ϯ

>YhDhZWKZD/;&ƌĂŶĐŝƐĐŽ ϭϬϬ '>MZ/͕'>MZ/͕>>h/ ϯϴ
ůǀĂƌĂĚŽͿ ;>KhsDK^KÊ,KZͿ
>DKhDZ/ ϮϮϲ '>MZ/͕'>MZ/͕'>MZ/͕>>h/͊ ϯϵ ϭ͘ Z/^dK:KsE
DdhWZÊ ϭϯϴ 'Zd/K ϭϰϬ
Dj^;ĂŶŝĞůsĞŶƚƵƌĂĞZŽĚƌŝŐŽ ϱ ,^dYh>DhEKZWKZ> ϭϴϳ Ϯ͘ KE^dZhdKZ^,/^dMZ/
DĞĚĞŝƌŽƐͿ ;&ƌĂŶĐŝƐĐŽůǀĂƌĂĚŽͿ
Edh^DEK^;DŝƐŝſŶWĂŝƐͿ ϮϮϴ ,ZE/;/:K^ Ϯϯϱ ϯ͘ /y>hKhEdZZ
EdZ' ϭϬϭ E'>/E'Ϳ
EdZ'DKZ;:K^ ϮϮϳ ,ZM/^&K'K;&ŝůŝƉĞĚĞ&ƌĞŝƚĂƐ Ϯϯϲ ϰ͘ h^dZ/EK
E'>/E'Ϳ;&ŝůŝƉĞĚĞ&͘ƌĂƵũŽͿ ƌĂƵũŽͿ
EdZ'h^hD/E,Kh^ ϭϵϲ ,/DEK&ZEZ/E/^, Ϯϯϳ ϱ͘ Dj^;ĂŶŝĞůsĞŶƚƵƌĂĞZŽĚƌŝŐŽDĞĚĞŝƌŽƐͿ
Es//KsK^^K^W1Z/dKÊ,KZͲ ϭϲϭ ,/EK^K>>/Z^ϭϵϵϳ Ϯϯϴ
^>DK ,/EKKWZ'Z/EK ϮϬϭ
ϲ͘ ^'hs/s
Es/ͲD ϭϵϳ ,/EKK^W/KE/ZK^ Ϯϯϵ ϳ͘ ^dEZd;DĂŶƵ>ŽƉĞǌEĂŽŶͿ
^'hs/s ϲ ,K:dDWK>KhsZh^ ϭϭ
^WZEKKEdZdK ϭϵϴ ,K:>/sZ^Kh ϭϰϭ ϴ͘ hsE,KK^h>KEKZd;WĞ͘ĞǌŝŶŚŽͿ
^WZE /͕/͕/:^h^ ϮϬϮ
^dEZd;DĂŶƵ>ŽƉĞǌEĂŽŶͿ ϳ :/dK^Z;:j>/K&/EKͿ ϮϰϬ ϵ͘ &/^DWZ
^dÊdZEM^;dh^D/E, ϭϬϮ :^h^^dYh/ ϭϰϮ
s/Ϳ :^h^^dKhYh/ ϭϬϱ ϭϬ͘ &/K&>/
^dWZEdK;tĂůĚĞĐŝ&ĂƌŝĂƐĞŽŵ ϱϱ :^j^^dKzYh1 ϭϬϲ
EĂǀĂƌƌŽͿ :^h^^hWZ^dZK ϭϰϯ ϭϭ͘ ,K:dDWK>KhsZh^
h>ZZ/ ϭϵϵ :^h^͕>/DEdKYhs/ ϭϬϰ
hEs'Z/ ϭϲϮ :K/ZZ ϭϬϳ
ϭϮ͘ WKsKh^
h^M^/dDZ;>ƵĐĂƐůǀĞƐ͕ ϮϮϵ :hD^^KDKÊM^;>yEZ Ϯϰϭ ϭϯ͘ KZKW>&D1>/;WĞ͘ĞǌŝŶŚŽͿ
ZŽďƐŽŶDĂƌƋƵĞƐͿ d/y/ZͿ
h^KhDZ/ ϮϬϬ <zZ/>/^KE Ϯϯ ϭϰ͘ Ê,KZZ/
h^KhKYh^Kh ϭϯϵ >^/DWZ;DĂŶƵ>ŽƉĞǌEĂŽŶͿ ϭϳϮ
hsE,KK^h>KEKZd;WĞ͘ ϴ >^DZ/dE;WĞ͘WĂĐŚĞĐŽͿ ϭϬϴ ϭϱ͘ WKZYh>s/s
ĞǌŝŶŚŽͿ >ZK ϭϬϵ
hs/DWZ^hdZ ϰϴ >/sZ^^K ϭϰϰ ϭϲ͘ Yh/ZKEdZ;&ĞĚĞWŝĞĚƌĂďƵĞŶĂͿ
&ZZK&K'K;ŶĐŽŶƚƌŽĚĞDƷƐŝĐŽƐ ϭϬϯ >KhsK^:KDhÊ,KZ ϰϬ
DĂƌŝŶŐĄͿ DZ ϭϳϯ ϭϳ͘ ZhE/K^Yh/
&/d͗:hsEdhDD/^^K;ZĂĨĂĞů ϮϯϬ DZ;ZD/yͿ ϮϬϯ
&ůĂƵƐŝŶŽͿ DD/Zs> ϭϳϰ
ϭϴ͘ ^>DK>Z/KE
&/^DWZ ϵ DĆĞĚĂůŝĂŶĕĂ;ƵŵĞĐŽŶƐĂŐƌŽͿ Ϯϰϯ ϭϵ͘ Ê,KZ͕YhDEdZZ͍
&/K&>/ ϭϬ ;&ĞƌŶĂŶĚŽ,ĞŶƌŝƋƵĞͿ
&/>/;EŝĐŽůĂƐǀĂůĚŝǀŝĞƐŽͿ Ϯϯϭ DK,KDDEKsK ϭϳϱ ϮϬ͘ sDK^KZͲ>K;DK^^Ϳ
&/>D/^^KsD ϮϯϮ DKEK^^KdKZ ϮϰϮ
&/>,K^,KE^ddd Ϯϯϯ D:^dK^hZ/^d/ ϭϭϬ
&h'K^h&h'K;W͘:ŽĂƋƵŝŶ Ϯϯϰ DK^Zd^ ϱϲ
ůůĞŶĚĞ͕:ŽƐĠDĂƌşŶͿ DZEdZK ϮϬϰ
'>MZ/hÊ^>dhZ^ ϯϱ DZs/>,^ ϭϳϲ
'>MZ/hÊK^>dK^h^ ϯϲ DZ^KYh^&K/ Ϯϲϳ
'>MZ/KW/Z/KZ ϯϳ DZ,>hEs/:;h> ϭϴϮ
'>MZ/KÊ,KZ;EdZͿ Ϯϲϲ KE>>Ϳ

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2-904.919 ŽĂŵŽƌĚĞĞƵƐ͘

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sŽƵƐĞƌŚĞƌĚĞŝƌŽĚĞƐƐĂůŝŶĚĂĐĂŶĕĆŽ 94/K1.-/1:-,++902.;+902+,9F42:+,74>+9.:/1=
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DŝƐŝſŶWĂŝƐ
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WŽƌƋƵĞǇŽƉŽƌ^ĐŚŽĞŶƐƚĂƚƚĚŽǇƚŽĚŽǇƐĠƋƵĞĞůWĂĚƌĞŵĞǀĂĂĞƐĐƵĐŚĂƌ
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ƚƵĚŽŽƋƵĞĞƵƚĞŶŚŽ͕ĠƚƵĚŽŽƋƵĞĞƵƐŽƵ ;:ƷůŝŽ&ĂďŝĂŶŽͿ
ZĞĐĞďĞ͕^ĞŶŚŽƌ͕ƚƵĚŽĠƉĂƌĂŽdĞƵůŽƵǀŽƌ 1.2484,0-348+:-,C+2
ĐĞŝƚĂĞƚƌĂŶƐĨŽƌŵĂĂŵŝŶŚĂǀŝĚĂĐŽŵŽŽƉĆŽĞŽǀŝŶŚŽ͘ <42K1.+/34+84,0.8.1

.9<.2+,G++<+2.8.1
.90.+/0+24,7.01749.2.,4;+.1K1.24047++:-,C+;-7+,.90+C42+
4F.20+2Y H49.-A.:0..Y</-8+2
DŝŶŚĂĂůĞŐƌŝĂ͕ŽŵĞƵĐĂŶƚĂƌ͕ŵŝŶŚĂƐĐŽŶƋƵŝƐƚĂƐ͕ŽŵĞƵĐĂŵŝŶŚĂƌ͘ I9.-K1.4K1..1/.;4.1<2.8-94.9<+/C+25

͸ͲǤ ǡ H49.:.,0.9.:01+9:H49

^ĂďĞƐ͕^ĞŶŚŽƌ͕ŽƋƵĞƚĞŵŽƐĠƚĆŽƉŽƵĐŽƉƌĂĚĂƌ͘ 1.:.7+9,4842+GH4
DĂƐĞƐƚĞƉŽƵĐŽŶſƐƋƵĞƌĞŵŽƐĐŽŵŽƐŝƌŵĆŽƐĐŽŵƉĂƌƚŝůŚĂƌ .<.231,0+9V^1.:.-7..,;-+2(_
12.9<4,74V^ -9>:.+K1-L_

1.2.:49,.90+C42+7-+,0.749-2:H49
ŽŵDĂƌŝĂ͕ĞŶǀŝĂͲŵĞ^ĞŶŚŽƌ
4:<24:.0.2+;-7+A198+,74+1,-H45

ŽŵDĂƌŝĂ͕ĞŶǀŝĂͲŵĞ^ĞŶŚŽƌ
+A.:49K1.D7-FP8-/49A.,984:<+20-/C+2 DĂŝƐĨŽƌƚĞƋƵĞŽŵĞĚŽ͕ŽĂŵŽƌĂŶƵŶĐŝĂƌ
+984:+!1+32+G+.,C42K1.2.:497+25 ƐƐĞĂŵŽƌƋƵĞĞƵĐĂƌƌĞŐŽĠĚĞdŝ͘

:8+2Z,8-+;.S44:1,74
/C+,74!.1.Y.:</4.,C42;+:499.31-2
!.22+9.8++A+,74,+7+
+=.,744A.:+047499.:,+7+.Y-3-25
,K1-.04.1:./.;+,04

͸ͳǤ 2 +2+9.2!.1-,9021:.,04
tĂůĚĞĐŝ&ĂƌŝĂƐĞŽŵEĂǀĂƌƌŽ +994+<+994+/.32-+.+:42.,02.3+25
4A.+.219+/D:
#-23.:4F.2.,0.9.:-31+/5 H49.:.,0.9.:01+9:H49
#+-+<2.9.,0++4 +- 1.:.7+9,4842+GH4
0.1:.,-,4V 1=K1.8C.341,4+0+/5 .<.231,0+9V^1.:.-7..,;-+2(_
1,04\01+821= 12.9<4,74V^ -9>:.+K1-L_
K1+,74.19:422.2F-8+7.<D5
-: /.0.+/;41
:+94F.2.8.90.<42,I984:047+FD5 ʹʹͷǤ

;:ƷůŝŽ&ĂďŝĂŶŽͿ
I9;+:492.,4;+2
.90.9+82-FP8-47..919V +F42G+7+/-+,G+7.:42

420..2.99122.-GH4 A198+:49:.-49<2+84,K1-90+2
;-7+K1.A240417.91+4F.20+,+821= 4+/04-7.+/K1..:,I9
H.;.:,49.,9-,+2 F+=A240+24C4:.:,4;4

+F+=.27+;-7+1:+4A/+GH4 4+,01Q2-4.,84,02+:49
1/04+32+7Q;./+.19 71+9.9<+7+9;+:49/10+2
DF+=.2+4F.20+74<2I<2-4842+GH45
"

zƋƵĞƉŽĚĂŵŽƐĐŽŶƐƚƌƵŝƌĐŝƵĚĂĚ ͸ʹǤ VȋǤǤǤȌ
ʹʹʹǤ ŽŶŶƵĞƐƚƌĂZĞŝŶĂĞŶĞůůĂ 984-9+9K1.4:1,744F.2.8-+:.-:<.7-2+:7.!..,84,02+2
;&ƌĂŶĐŝƐĐŽůǀĂƌĂĚŽͿ
.;.2K1.+;-7+D9I.:!-5
#+:49++A2-2/+.9<.2+,=+.X42 sĂŵŽƐĂĚĞũĂƌƉŝƐĂĚĂƐ +9!1;-.90..048+90.A.:,4F1,7474:.1842+GH4
#+:49K1.,49F+/0+0-.:<4 zĐŽƌĂǌŽŶĞƐĐĂŵďŝĂƌĐŽŶĂŵŽƌ ..,9-,+90.+!.+:+25
+2+042,+2,1.902+9:+,49.,<+, zƋƵĞůŽŚĞĐŚŽƐĞĂƉƌƵĞďĂĨŝŶĂů
ĞƋƵĞƌŝƐƚŽŚĂďŝƚĂŵŝŚŽŐĂƌ M:ĞƐƵƐ͕ƌĞĐĞďĞĞŶƚĆŽĂŵŝŶŚĂǀŝĚĂ
+2+F42S+28-./4,1.;45
ĞƋƵĞƌŝƐƚŽŚĂďŝƚĂƚƵŚŽŐĂƌ ZĞĐĞďĞĂƐĐŽŝƐĂƐƋƵĞĚĞdŝŵĞĂĨĂƐƚĂŵ
#+:49+S1,0+2.9<+7+97.+:42
ĞƋƵĞƌŝƐƚŽŚĂďŝƚĂ;ƌĞŶĂĐĞͿĞŶŶƵĞƐƚƌŽ WŽŝƐƐſĞŵdŝƋƵĞƌŽǀŝǀĞƌ͘
+2+7.S+2,1.902+C1.//+
-9+,740-.22+//.;+,74./+/0+2 ŚŽŐĂƌ
342+K1.:.1842+GH4D!.1K1.249.:<2.!./41;+25
N./-:-,+,74F24,0.2+9555 !1+;-7+02+,9A427+25
+,49/+93+,+97.9.2;-2.X42
!.2.3+/+:49/4991.X49 +2+K1.:+-93.,0..Y<.2-:.,0.!.1+:42,4902+,9F42:+,74
zƋƵĞĞůĐŝĞůŽƐĞĐƵďƌĂĚĞůƵǌ !1+:H4+,49048+25
zƋƵĞůĂƚŝĞƌƌĂƐĞůůĞŶĞĚĞĐƌƵǌ +2+94X+284,01+,C./47.<+=
WƵĞƐǀĞŶŝŵŽƐƚƵƐƵĞŹŽĂĐƵŵƉůŝƌ N2.F1,7+2.90.0-.:<45
ŽŶŐƌĞŐĂŶƚĞƉŽƌƌŝƐƚŽĂŵŽƌŝƌ ͸͵Ǥ
zƋƵĞƉŽĚĂŵŽƐƚƵŶŽŵďƌĞŐƌŝƚĂƌ 1,H4941,+7+.74<I,+98-
^ƵĞŹĂĐŽŶĂůǌĂƌďĂŶĚĞƌĂƐ WĂƌĂůĂƚŝĞƌƌĂƉŽĚĞƌĐŽŶƋƵŝƐƚĂƌ +9!1:.+:+9.:422.90.<42:-:5
^ƵĞŹĂĐŽŶƌŝƐƚŽǇƉŽŶƚĞĞŶƐƵůƵŐĂƌ WŽƌƋƵĞƚƵƐŵĂŶŽƐǇĂŶŽƚŝĞŶĞŶĨŝŶ -+,0.7+821=9I<4994.Y8/+:+2V
WĂĚƌĞ^ĂŶƚŽƋƵĞƌĞŵŽƐƐĞƌǀŝƌ͘ !.19410.19415

dŽŵĂŵŝŶŚĂƐŵĆŽƐ͕dĞƉĞĕŽ͘
ʹʹ͵Ǥ

dŽŵĂŽƐŵĞƵƐůĄďŝŽƐ͕ƚĞĂŵŽ͘
;ZĂĨĂĞůĚƵĂƌĚŽĚĞKůŝǀĞŝƌĂ&ůĂƵƐŝŶŽͿ
dŽŵĂŵŝŶŚĂǀŝĚĂ͕ſWĂŝ͕ƚĞƵƐŽƵ͕
4;.2A4F.=>9.8+2,.5+G+>9.L dĞƵƐŽƵ͕ƚĞƵƐŽƵ͕ƚĞƵƐŽƵ
1:<2-1>9.+<24:.99+5;-0I2-+94A2. ;+F4-;.,8-7+<./+
;.+2-+;.+2-+ 1+,747.S4./C490.4/C4I.9195

#.S4!1+32+,7.=+.+:-,C+<.K1.,.=5
:A./4;+/..984/C.95+G+>9.L 1.<49947+2>0..1(I:.19.25
+-+0-9..,02.3+54,F-+,0.,.99+-7.-+9.84,9+32+0474\ !.19410.19415
;.+2-+;.+2-+

84:4F434,+98.5+G+>9.L ͸ͶǤ .!

,4;+
.2+GH47.-99-4,Q2-49/.;+:2-904;-,81/+749<./+ ;WĂĚƌĞĞǌŝŶŚŽͿ
;.+2-+;.+2-+ :842+GH4<+2++:+2
;.+2-+;.+2-+ 2+<.274+2.9.,0-2

+2+8C42+2.9422-2
;.+2-+,499++/.32-+D+K1-.90+2 4:.82-+2!1:.7.90.
:0.1+,01Q2-4.,;-+>,49!1+.902./+,4931-+2Q
:842+GH4<2+94,C+2
499++-,C+!1+.24-8+424+F+=
,K1-.04.9.:<2.+A+0.2
240+34,-90+9,I9-2.:494:1,74-,F/+:+2
" "

,9-494<42.,0.,7.2 ʹʹͲǤ

984-9+9K1.!17-99.90. 94/9.<e9<./+,4-0.8+:-,C+:49
#-:497+742:+99422-:49
ŝƐŽƋƵĞĞƵǀĞŶŚŽƚĞĚĂƌ 4:49+9.:.,0.747-+K1.84:.G+
ŝƐŽƋƵĞĞƵƉŽŶŚŽŶŽĂůƚĂƌ .F42S+:4984:.19,49947.90-,45
ƚŽŵĂ^ĞŶŚŽƌƋƵĞĞůĞĠƚĞƵ
DĞƵĐŽƌĂĕĆŽŶĆŽĠŵĞƵ;ϮyͿ !42,+2.:49+,+98.27.,499+98-,=+9

/+,0+2.:49+F/424,7.,H4CQ,+7+
1.24K1.4:.1842+GH4
+/+2.:4974+:424,7.C+S+I7-4.+/31:7-+
.S+0H48C.-47.<+=
+/31:7-+:4;.2.:49+9:4,0+,C+95
1.,H49.9-,0+8+<+=

.9.,0-2I7-4412+,842

42K1.94:49<+20-7Q2-497+;-7+
1.24K1.+:-,C+42+GH4 ./.;+:49,4<.-04.9<.2+,G+
499+:.+:+712.8.2 42K1.94:498+:-,C+,0.97+,4-0.7.90.90.:<49
.;.>:.+84:<2..,7.2 .,+,4-0.2.;-;.:49+:+,CH5
984,9.K1Z,8-+974+:42
4,9021-2.:49+<+=94A2.+31.22+
͸ͷǤ ǡ
,8C.2.:49+98+9+97.+/.32-+
#.,C4.,C42:-,C+;-7+4F.2.8.2 C+:+2.:497.-2:H4+8+7+C4:.:9.2Q.,0H4
4:44F.20+7.+:42.9+82-FP8-4 K1+,7449C4:.,99.2H41:+F+:P/-+5
1.24:-,C+;-7++!-.,02.3+2
4:44F.20+;-;+.:!.1+/0+25

WŽŝƐƉƌĂdĞĂĚŽƌĂƌĨŽŝƋƵĞĞƵŶĂƐĐŝ͘
ƵŵƉƌĂĞŵŵŝŵŽdĞƵƋƵĞƌĞƌ͘ ʹʹͳǤ ȋ
2Ȍ
&ĂĕĂŽƋƵĞĞƐƚĄĞŵdĞƵĐŽƌĂĕĆŽ 'ƌĂŶĚĞĠdĞƵĐĂƌŝŶŚŽ͕ƉĂƌĂĐŽŵƚĞƵƐĨŝůŚŽƐ͘
ƋƵĞĂĐĂĚĂĚŝĂĞƵƋƵĞŝƌĂŵĂŝƐĞŵĂŝƐ dĞƌŶŽƐĠƐŽWĂŝĐŽŵĂƋƵĞůĞƐƋƵĞƚĞĂŵĂŵ͘
ƐƚĂƌĂŽdĞƵůĂĚŽ͕ĞƐƚĂƌĂŽdĞƵůĂĚŽ͕ĞƐƚĂƌĂŽdĞƵůĂĚŽ͕^ĞŶŚŽƌ͘ dƵďĞŵŽƐĂďĞƐĚĞƋƵĞƐŽŵŽƐĨĞŝƚŽ͘dƵƚĞůĞŵďƌĂƐĚĞƋƵĞƐŽŵŽƐƚĞƌƌĂ͘
.194/C+.,499190.,0+549+84/C..,49<240.3.5
͸͸Ǥ .1+:42,492.34=-S+.:,499+0.22.,++,7+,G+5
+-;+-,4902+,9F42:+,7484:444/.-24+9.1A+2245
#41!.4F.2.8.2+;-7+.01744K1..1SQ9.-;-;.2
4:4991+;4=9.:.,0.+0.22+7.9.19+:42.95
!.:<4.02+A+/C4+:42K1..1.9<+/C49H484-9+9K1.:.F+=.:82.25

#41!.4F.2.8.24<2+,04+K1-/4K1.D:.194F2.25
F+=84:K1.9../.;.:<./+9:H497.+2-+
+=K1.+-,7+,H49.-.0174K1..22.-9H484-9+9K1.:.F+=.:82.25
4:.,98C.-497.+/.32-+7.1+32+G+<420+742.95
WĆŽĞǀŝŶŚŽƐĆŽƐŝŶĂŝƐĚŽdĞƵĂŵŽƌ 7..-,F/+:+-4:1,7457-;-9+.<24F.8-+5
EĞůĞƐǀŽƵƐĂďĞƌǀŝǀĞƌ͘ ./+9:H497.+2-+D:-99H47.F1,7+742.95
ůĞŐƌŝĂĞĚŽƌĞƵǀŽƵƚĞŽĨĞƌĞĐĞƌ͘
^ĆŽĐŽŝƐĂƐƋƵĞŵĞĨĂǌĞŵĐƌĞƌ
""

ʹͳͻǤ ǡ
$5 !
47.9<.20+27++1242+
4A2.48CH44:+,04 @5 !!!
4A2.+:420.+;-0I2-+
4<2+,04;.,8.48+,04 &5 ! #

ʹůĞʹůƵʹŝĂ͕ʹůĞʹůƵʹŝĂ $%5 !? !

!1+<2.9.,G+02+=
$5 !#
4842+GH4:-,C+<+=
84:+:42:..,;-+9
4:44F.=4 +-

ʹůĞʹůƵʹŝĂ͕ʹůĞʹůƵʹŝĂ

ŵĂŶƵĞů
WĂƌƚĞŽƉĆŽĞĞŶƚĆŽƚĞǀĞƌĞŝ

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Ɛ:ĞƐƵƐ͕^ĞŶŚŽƌŶŽƐƐŽĞZĞŝ
K^ĂůǀĂĚŽƌ
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98.,7.+4 +-.2.-,+ K^ĞŶŚŽƌĠ^ĂŶƚŽ͕Ž^ĞŶŚŽƌĠ^ĂŶƚŽ͕Ž^ĞŶŚŽƌĠ^ĂŶƚŽ
-84.:+742+GH4 .,C42D,4994.195.,C42D,4994 +-5
<.2:+,.8..:0174 1..12.-,47.+:429..90.,7+94A2.+!.22+5
40.:<4\-:.,9-7H4
K^ĞŶŚŽƌĠ^ĂŶƚŽ͕Ž^ĞŶŚŽƌĠ^ĂŶƚŽ͕Ž^ĞŶŚŽƌĠ^ĂŶƚŽ
ůĞůƵŝĂ͕ůĞůƵŝĂ .,7-044K1.;.:.:,4:.74.,C42

ŵĂŶƵĞůWĂƌƚĞŽƉĆŽĞĞŶƚĆŽƚĞǀĞƌĞŝ .,7-044K1.;.:.:,4:.74.,C42

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Ɛ:ĞƐƵƐ͕^ĞŶŚŽƌŶŽƐƐŽĞZĞŝ ,ŽƐĂŶĂ͊,ŽƐĂŶĂ͊,ŽƐĂ͘͘͘Ă͘͘͘ŶĂ͘
K^ĂůǀĂĚŽƌDĞƐƚƌĞĞ^ĞŶŚŽƌ͕
ŵƚĞƵ&ŽŐŽ͕ƉŽƌƚŝ͕ĂƌĚĞƌĞŝ ͸ͺǤ ȋ ǡ Ȍ
ƌŝƐƚŽdĂďŽƌ +,04+,04+,04D4.,C425+,04D4.,C42.19<47.24945Y

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ZĞĨƌĆŽ 1904F420.+,04D4.,C42+,04D4.,C42.19<47.2494Y
YƵĞĞƌĂ͕ĞƋƵĞĠ͕ĞƋƵĞŚĄĚĞǀŝƌ͘:ƵƐƚŽ͕&ŽƌƚĞ͕^ĂŶƚŽĠŽ^ĞŶŚŽƌ͘
"

͸ͻǤ ǡ &5 !!-/-<. 5 )
+,04+,04+,04D4.,C42 7.2.-0+92+1S4 W ! W
.19741,-;.294748D1.7+!.22+5W %5
# 5 !
! "5 H.7+/-+,G+ 1:.
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84,9+324.2,+,74.,2-K1.

! 5 ' '
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49+,+,+9+/012+9,+9+/012+95 5 ? 2+,8-984 5 ? ## +,7O
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B
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͹ͲǤ ȋ Ȍ /+19-,4 $5 # N
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+,04+,04+,04D4.,C42.919L &/EKͿ @5 !
ϮϮϱ͘ h^^W^;:j>/K&/EKͿ ! +F+./
^ĂŶƚŽ͕^ĂŶƚŽ͕^ĂŶƚŽĠƋƵĞŵŶŽƐƌĞĚŝŵĞ͗ /+19-,4
ϮϮϲ͘ >DKhDZ/
ͬ͗WŽƌƋƵĞŵĞƵĞƵƐĠ^ĂŶƚŽĞĂdĞƌƌĂĐŚĞŝĂĚĞ &5 +,7O&@
ϮϮϳ͘ EdZ'DKZ;:K^
ƐƵĂ'ůſƌŝĂĞƐƚĄ͊͗ͬ E'>/E'Ϳ;&ŝůŝƉĞĚĞ&ƌĞŝƚĂƐ %5

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ƌĂƵũŽͿ 102+U2./-,3!+CP9102+
ͬ͗ĠƵƐĞdĞƌƌĂƉĂƐƐĂƌĆŽ͕ U2./-,3
ŵĂƐƚƵĂƉĂůĂǀƌĂŶĆŽƉĂƐƐĂƌĄ͊͗ͬ ϮϮϴ͘ Edh^DEK^;DŝƐŝſŶWĂŝƐͿ
5
EĆŽ͕ŶĆŽ͕ŶĆŽƉĂƐƐĂƌĄ͊ ϮϮϵ͘ h^M^/dDZ;>ƵĐĂƐůǀĞƐ͕
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47.9.2044<4;4F+2041
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427.-247..19K1.0-2+-94<.8+7474:1,74
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427.-247..19 84,02++94,7+9/10+2
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6+/7.8-+2-+9 42-994047447-+7-+>+>7-++8+7+C42+.19.-84:.19.1<499484,0+25
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%

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C42+7.<+20-2:+2+7.,024.1,H4;41.9<.2+25 ͺ͵Ǥ
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ƚĆŽŝŵĞŶƐŽŽŵĂƌŵĂƐĞƵǀŽƵĐŽŵǀŽĐġ͕ :ƵŶƚŽĂdŝ͕ďƵƐĐĂƌĞŝŽƵƚƌŽŵĂƌ
ŶĆŽƚĞŵŽŶĂǀĞŐĂƌƐĞĞƐƚĄŵĞƵĞƵƐ͘
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1.24K1.497.:+-9;.S+:.::-:0.19422-94.,C425 4:.,0.2.7.9.4:.102+A+/C45
1.249.2:+,+,8-+/.7+2;-7+4,7.K1.2K1..1;Q5
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EŽĞǆŝƐƚĞŶůĂƐĨƌŽŶƚĞƌĂƐ͕ƐſůŽŚĂǇƋƵĞĐŽŵƉĂƌƚŝƌůĂ;ϮyͿ
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DŝƐƐĆŽ:ŽǀĞŵ͕ĚĞũŽǀĞŶƐƋƵĞƋƵĞƌĞŵĂŵĂƌ͕ !.+/+A.<42/499-3/497./499-3/49
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K1.01:+,7+:-.,047.+:42 N͕ƌĂƐŝůdĂďŽƌĞƐƚĂŵŽƐĂƋƵŝ͘
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84,/4K1.:.7-90.<+2+34=+25

ŵĂƌ͕ǇŽƋƵŝĞƌŽĂƉƌĞŶĚĞƌĂĂŵĂƌ
ʹͲʹǤ 3ǡ3ǡ3
ĐŽŵŽŵĞŚŝĐŝƐƚĞĂŵĂƌ
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ĐŽŵŽŵĞŚŝĐŝƐƚĞĂŵĂƌƉĂƌĂƐĞŶƚŝƌƋƵĞĞƐƚŽǇǀŝǀŽ

ƉŽƌƋƵĞŚĂǇĂůŐŽƋƵĞƉƵĞĚŽĚĂƌ
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ƚƵĂŵŽƌ͕ƚƵĂŵŽƌ͘

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K1.<1.7484:<+20-2 1/+ 1/+ 1/+I9 1/+2.:49Y
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9+A-.,74K1.;4O+C+8.20.F./-=5
2-0+
2-0+
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ĐƵĂŶĚŽŵĂƌĐĂƐƚĞŵŝŝĚĞĂů͘ <42/432+2/+9+,0-7+75444
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ƚƵĂŵŽƌ͕ƚƵĂŵŽƌ͘
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9<.2+20+:A-D,.902+,9F42:+2 ;:ƷůŝŽ&ĂďŝĂŶŽͿ .9-,041:,4;4C4:.:
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sĞŶŚŽŵĞŽĨĞƌĞĐĞƌ sĞŶŚŽŵĞŽĨĞƌĞĐĞƌ
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ƵŵŵƵŶĚŽŶŽǀŽ
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19417.+2-++2-+,499+H...1+K1.245 .19DA4:,49.,9-,++;-;.2,492.;./+48+:-,C4+9.31-2V
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42-994.10.7-34V,H4,497.-Y.,H4,497.-Y.:+-95
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#.:;+:49S1,049+4 +2+,499+!.22++0+/
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%

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.:9.:<2.DF./-=5F./-=5
&ŝůŚŽĚŽĐĠƵ͕ĞƚĞƌŶŝĚĂĚĞŶŽĂƌ
EŽĂŵŽƌ͕ĐĂŵŝŶŚŽǀĞƌĚĂĚĞŵŝŶŚĂǀŝĚĂ :1,74,H40.9+0-9F+=
4-991++/:+D32+,7.7.:+-95
410.22+:+90+:AD:941F-/C47-++7-+<+994+<+994.1;41 I.19<47..,8CZ>/+5 47..,8CZ>/+5
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,ŽũĞƐĞƵƐƉĂƐƐŽƐƐĞƉĞƌĚĞŵŶĂĞƐƚƌĂĚĂ
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EĞŵƐĞŵƉƌĞǀŽĐġƚĞŵĐŚĞŐĂĚĂ͘
4::-,C+821=:.18+,04.:-,C++/.32-+84::.1.,C42
ŶƚƌĞŐƵĞƐĞƵĐĂŵŝŶŚŽĂĞƵƐ;ϰǆͿ
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-99H474!.1<4;4.984/C-74L.,C42;.:/-;2+2>,4974:+/L ͳͻ͹Ǥ Ǧ
1-8C+:+74+:-99-4,+2.+/.;+2740.1+:42
sĞŵĚĂƌͲŶŽƐdĞƵ&ŝůŚŽ͕^ĞŶŚŽƌ͕ƐƵƐƚĞŶƚŽŶŽƉĆŽĞŶŽǀŝŶŚŽ͕ +2+1::1,74K1.<2.8-9+2..,84,02+24.,C425
ĞĂĨŽƌĕĂĚŽƐƉşƌŝƚŽ^ĂŶƚŽ͘hŶŝŶĚŽdĞƵƉŽǀŽĂĐĂŵŝŶŚŽ͊ +/+2.-7+9:+2+;-/C+9.7+932+G+9K1.F.=.::-:
1-2.-+0D4984,F-,974:1,749.F42<2+F+/+27.!-5
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#-;.24<.27H49.::.7-7+9.2;-29.:S+:+-984,7.,+2V YƵĞŵŚĞŝĚĞĞŶǀŝĂƌ͕ĞŝƐŵĞĂƋƵŝĞŶǀŝĂͲŵĞ͘
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231.249K1..90H4C1:-/C+74974+2>9.+49<.K1.,49+49<4A2.9V 4:49S4;.,9K1.K1.2.:499.242490474.,C42
-99H474!.1<4;4.984/C-74.,C42,499+9F42G+92.74A2.L .84: /.,I9-2.:49410249S4;.,92.93+0+25
S4;.::-99-4,+,74S4;.:84:+/.32-+7.;-;.2
198+2+;.27+7.+S190-G+,+902.;+9A2-/C+284:4+/1=V K1.:,49.,;-+.::-99H4D.919<42-994.17-34.-9:.+K1-L
-99H474!.1<4;4.984/C-74.,C42,49949<+994984,71=L

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sĞŵDĂƌŝĂǀĞŵ͊sĞŵŶŽƐĂũƵĚĂƌ #.,P+9<42+K1./8+:-,4C+8-+:P5
ŶĞƐƐĞĐĂŵŝŶŚĂƌƚĆŽĚŝĨşĐŝůƌƵŵŽĂŽWĂŝ;ϮyͿ ,2.+/-7+7,1,8+<.,9D821=+20.+9P5
+S4.9+821=/+:+S.90+77./-S47.+;-75
#.:K1.2-7+:H.,49.,9-,+259.20.90.:1,C+74+:42
1.F.=749.1842<491+:42+7+51.9.+A2-1<2+2.8.A.24+/;+742 !474./<.8+74O/+94A.2A-+42-3-,+/
94A2.019C4:A249+:-/+74<+9+2Q,5
I9K1.2.:49I:H.2.9<4,7.24+:42742-904+/;+7425 N7.2.<.,0../+/;+7428+OIO,49D9-.9K1.0.<1.74+O17+25
C.-497.0.2,12+84/48+:494,F-+,0.9.:91+9:H49.90+42+GH45
ǇƷĚĂŵĞĂĐĂƌŐĂƌƚĂŶƚŽĚŽůŽƌ͕
ĂǇƷĚĂŵĞŶĞĐĞƐŝƚĂŶĚĞƚƵĐŽƌĂǌſŶ͘
WĞƌŽ^ĞŹŽƌŶŽƉƵĞĚŽ͕ŵŝƌĂŵŝĚĞďŝůŝĚĂĚ͘
ǇƷĚĂŵĞǇǀĞƌĄƐĐſŵŽůĂŚĂŐŽŵşĂ͕
ǇŵşĂĞƐƚƵĐĂƉĂĐŝĚĂĚĚĞĂŵĂƌ͘

49A2+=499..,02./+=+,<+2+8+:-,+2
01+/-.,04/+90-:+74:.;+C+8-.,748+//+25
N+1,K1.,4932-0.,;4O.,02+,74:Q9.,,1.902+-,0-:-7+75

g1D81/<+C+O.,./C4:A2.K1D:.2.=8+0174,(
g8+947+2/+;-7+02+,9F42:+1,842+=I,(
1+,74//.3+:49+/+8-:+.,0.,7PK1..9<42:425
ͻͺǤ 2
+8.O+0-.:<4K1.84:<2.,7P
!E:.A198+90..,047+9<+20.9
/+//+:+K1.1,7P+.:<.=I+F+//+2
!E,47.S+90.9.+<+3+9.5

N4,484:<2.,74O7-34K1.9.2Q
9.2QK1..90+A+.K1-;48+74
OC.7.981A-.204K1..90./484.90Q
7.+:42:12-.,74<42K1./.+:.5

N4,4C.K1.2-749+A.2:Q9
7./+/4812+K1.:./+0.
<.24/+F-.A2.K1-.2.2.32.9+2
O /,47.SI7.<2.7-8+2:.5

zdƷŵĞĚŝĐĞƐ͗
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ĠũĂƚĞ͕ƋƵĞƚĞĐŽŶƐƵŵĂĞƐƚĞĨƵĞŐŽ
ŶŽĂƉĂŐƵĞƐǇĂŵĄƐĞƐƚĂŚŽŐƵĞƌĂ +234++2P+.,:-9A2+=49
/-904<+2+:-9-4,+25
ƋƵĞƐŝŶŽŚĂǇĨƵĞŐŽŶŽŚĂďƌĄůƵǌ͘
#+:49.9C42+7.8+:-,+25
ƌĠĞŵĞ͕ƋƵĞĞƐƚŽǇĐůĂǀĂĚŽ
ƉŽƌƋƵĞƚĞĂŵŽ :ƵŶƚŽƐƋƵĞƌĞŵŽƐƐĞƌŝŶƐƚƌƵŵĞŶƚŽƐĚĞDĂƌşĂ͘
ŶŽĞŶĐŽŶƚƌĂƌĄƐĞŶŽƚƌŽůĂĚŽ͕ zůůĞǀĂƌĐŽŶůůĂ>ĂĂůĞŐƌşĂ͘
ƋƵŝĞŶƋƵŝĞƌĂǇĂŵŽƌŝƌƉŽƌƚŝ͘

40.,3+9:-.74,40.7.S+2D ƐDĂƌşĂ͕ZĞŝŶĂĚĞůĂDŝƐŝſŶ͘
/+9;.8.9K1.0E:.2.8/+:.9 DĂƌşĂ͕ůĂůůĞǀŽĞŶĞůŽƌĂǌſŶ͘

O434=4+/;.2K1.K1-.2.92.32.9+2
4:41;.,0177.8C4.,90+00
7DS+:.K1.O40./.;+,0._5
1,049.,,1.90249+,01+2-45
.X42,4;.9K1.K1-.242.32.9+2 /:1,74-2.:49+8+:A-+25

<.24:.<.9+:-<+9+74
-3+:499-.,74/1=7.2-904
+8+94<-7.9/4K1.,49D7+2
+2+-/1:-,+2/44981245
./0-.:<4:.C+9.8+74./+/:+5
1-.249.2,-X47.;.27+75
!+,04C.A.9+74./91./4,4/4;.9
:-9:+,499.C+,8.22+740+,045
^40.<2.481<.90.2.98+0+2D
:-;-7+8+:A-4<42/+01O+_V ͳͺ͹Ǥ 2

&ƌĂŶĐŝƐĐŽůǀĂƌĂĚŽ
;&ŝŶĂů͗
+2P+04:+0474/4K1.0.,34O94O0.4F2.=84:-842+=I,
ĠũĂƚĞ͕ƋƵĞƚĞĐŽŶƐƵŵĂĞƐƚĞĨƵĞŐŽ͕
84:4+K1./,-X4K1.C4O9.+8.28++,0.0-O0.C+A/+7.918+,8-I,5
ŶŽĂƉĂŐƵĞƐǇĂŵĄƐĞƐƚĂŚŽŐƵĞƌĂ

40++340+:-9+,32.0..,02.347P++7P+;-;-291:-9-I,5
ƋƵĞǇŽĞŶĐĞŶĚşĞŶƚƵĐŽƌĂǌſŶͿ

,ĂǌŵĞƵŶĂĂŶƚŽƌĐŚĂƋƵĞĂƌĚĂƉŽƌƌŝƐƚŽ͕
ͻͻǤ 2 ŝŶĐĞŶĚŝĂƌĞůĐŽƌĂǌſŶ͕ƐĞƌŚŽŐĂƌ
DĂŶƵ>ŽƉĞǌEĂŽŶ ĐŽŵŽĞůƐŽůƋƵĞĞƐƉĂƌĐĞƚƵůƵǌ
,+;.=0.<24:.0PK1.,4;4/;.2P++8+.27.,1.;4+CP5 ŚĂƐƚĂƋƵĞĞůŵƵŶĚŽĂƌĚĂƉŽƌů͕
N<+2.8.K1.,4/481:</P+K1P:.0-.,.9.904O7.,1.;4+K1P5 ŚĂƐƚĂƋƵĞĞůŵƵŶĚŽĂƌĚĂƉŽƌů͘
1A-.9.9-74:.S42,484:<24:.0.2:.84,,+7+
7..9+:+,.2+/+81/<+,49.2P+0+,<.9+7+ DĂƌşĂ͕ƋƵŝĞƌŽƐŽŹĂƌ͕
gI:4/.;+,0+2:-842+=I,( ŶƵĞǀŽƐĐĂŵŝŶŽƐĐŽŵĞŶǌĂƌ͕
ƋƵŝĞƌŽƐĞƌƐĂŶƚŽǇ͕ƐŝĚĞďŽŵŽƌŝƌ͕
DĂĚƌĞŶŽƋƵŝƐŝĞƌĂƋƵĞ:ĞƐƷƐŵĞǀĞĂĂƐş͘ ŵŝǀŝĚĂƋƵŝĞƌŽĞŶƚƌĞŐĂƌ͘
KŚ:ĞƐƷƐǇŽƋƵŝƐĞƐĞƌƉĞƌĨĞĐƚŽƉĂƌĂƚŝ͘
DĞƐŝĞŶƚŽƚĂŶƉĞƋƵĞŹŽƉĞƌŽŵŝŽƌŐƵůůŽŶŽƐĞƋƵŝĞƌĞĂƌƌĞƉĞŶƚŝƌ͘
EŽŚĂǇĨŽƌŵĂĚĞƋƵĞŵŝŵŝƐĞƌŝĂƋƵŝĞƌĂƐƉƌĞĨĞƌŝƌ͘
&

+342+.10+:AD:7-2.-V
!1D9A.,7-0+I:H.5 K1.//+;.=N40.<24:.0PK1.9-.:<2.;4/;.2P++82..27.,1.;4.,0-5
!1D9A.,7-0+I:H.A.:>+;.,012+7+5 N<+2.8.K1.F1.+9P,1,8+:.C.-74.904O84:4+,0.9+K1P5
+9-74:.S42K1.0.024<-.8.9O0.8+-3+9
123-11:32+,7.9-,+/748D1 7..9+:+,.2+.,0.,7-90.K1.0193/42-+9,497-90+,8-+,
1:+:1/C.22.;.90-7+7.94/5 `DS+:./.;+,0+201842+=I,L
/1+7.A+-Y47.9.19<D9
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EƵŶĐĂƋƵŝƐĞƋƵĞŵĞƌĞǌĐĂƐŵŝŵŽƌƉŽƌƚŝ͘
H4CQ84:49.84:<+2+2 zŽƚĞŚĞĚĂĚŽƵŶĂƉƵĞƌƚĂĐĂĚĂǀĞǌƋƵĞƋƵŝƐŝƐƚĞǀĞŶŝƌ͘
.2F.-04DK1.:0.82-41 ^ŽŶƉĞƋƵĞŹĂƐ͕ŶŽƚĞĂƐƵƐƚĞƐ͕ƐſůŽƐŝĞŶĚŽŶŝŹŽ͕
.42-+7420.842441 ƐſůŽƐŝĞŶĚŽŶŝŹŽ͕ƐſůŽƐŝĞŶĚŽŶŝŹŽ
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!.8424+:49I:H.
!.8424+:49I:H.,499++-,C+
ͳͲͲǤ

1+,749-.,0401+:42048+2:-842+=I,
ͳͺͷǤ 2. 1+,74;.4.,01/1=/+F1.2=+7.018+/42
1.:D.90+K1.+;+,G+84:41:+1242+( 4C+O:Q92.9<1.90+<49-A/.K1..,02.3+20474/4K1.C+O.,:P5
!.:P;./84:4.YD28-04.::4747.A+0+/C+5 !I:+:..X42O9.2D84:41,,-X4+,0.0-
2-/C+,0.84:444/.84:4+ 1+5 .2D01O484:4+8047.+:42

4902+,74498+:-,C49+49F-/C49!.195 ĠũĂŵĞƋƵĞƚĞĂŵĞĐŽŶƚŽĚŽŵŝƐĞƌǇĞŶƐŝůĞŶĐŝŽƉƵĞĚĂƐĞŶƚĞŶĚĞƌ

ĂŚ͕ŵŝŶŚĂĂůŵĂŐůŽƌŝĨŝĐĂĂŽ^ĞŶŚŽƌ͘ >ŽƋƵĞĞŶƚƌĞŐĂŵŝĂŵŽƌĐƵĂŶĚŽǀĞŽĞŶƚŝĞƐĂĐƌƵǌĚĞĚŽůŽƌ
DĞƵƐƉşƌŝƚŽĞǆƵůƚĂ zƐĂďƌĄƐƋƵĞƋƵŝĞƌŽĚĞƐĂŶŐƌĂƌŵĞƉŽƌƚŝ
ĞŵĞƵƐŵĞƵ^ĂůǀĂĚŽƌ͘ ^ŝŵĞƚŽŵĂƐůĂŵĂŶŽǇŵĞƵƐĂƐŚŽǇƉĂƌĂǀĞŶĐĞƌ
zĐůĂǀĂƌƚƵďĂŶĚĞƌĂǇƚƵǀŽǌƐŝŶĚƵĚĂƌŶŝƚĞŵĞƌ
^ŝŶĚƵĚĂƌŶŝƚĞŵĞƌ

ͳͺ͸Ǥ V 1,K1.,49.+:-+:42-31+/+/K1.0E:.7+9

/.;4:-:48C-/++/C4:A24 !4:+:-842+=I,9-.,+/349-2;.+01</+,
//.,+7..9<.2+,=+.,;495 N9-:.,.8.9-0+2+9<42<.K1.X+K1.9.+:-;4=<P7.:..X42
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1-.24//.;+2:-94,2-9+
-3,47.K1..90+9.,:P5 ͳͲͳǤ
N494O-,9021:.,047.01+:425 &ƌĂŶĐŝƐĐŽůǀĂƌĂĚŽ
!474.:<.=I.,1,+821=
!.,34+/:+.,:4;-:-.,04 4,7.1,C4:A2.:12-IO1,-499..,02.3I
84,/+9.,8-//.=7.2-9045 -/.,8-49+/+:1.20.//.3I
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zŽƐĠƋƵĞƐş͕ůĂ͕ůĂ͕ůĂ͘͘͘
18+:-,49-31-IO.,+/3E,4024/+74
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+90+K1.C+//D1,+74,8.//+O+9PS1,0498+:-,+:49
-.,74C4:A2.+:-34.98/+;4O:+.9024
+2+//.3+2/+/+/+555
-.,748+23+<.9+7+<24F.942O+<2.,7-=
.7.:4902IK1..,/+;-7+./+:42.9,.8.9+2-4
,02.3IC+90+9181.2<4.,./<+,O.,/+;-7
/K1.C+90++O.29..;+7P+/F-,+/<1.,0.C+//.3+74
ĞƐĚĞĞŶƚŽŶĐĞƐůŽŚĞǀŝƐƚŽĐĂŵŝŶĂƌĂŵŝůĂĚŽ 4821=+2Q/+/+/+h
ĞƐĞŝŽƐƋƵĞƐĞŚƵŵŝůůĂǇŵƵĞƌĞƉŽƌŵŝ
ƐůĂďĂƌĐĂĞŶŵŝƉůĂǇĂ͕ĞůƌƵŝĚŽĚĞůƐŝůĞŶĐŝŽ
YƵĞƐĞĂĐĞƌĐĂĂƐƵŚŝũŽǇŵĞĂďƌĂǌĂĨĞůŝǌ ͳͺ͵Ǥ
YƵĞƐĞĂĐĞƌĐĂĂƐƵŚŝũŽǇŵĞĂďƌĂǌĂĨĞůŝǌ !1:+,04.9./94/K1.+A2+=+:-9C.2-7+9

+72.7..9<.2+,=+.904O+K1P
#-.,741,C1:-/7.8+/;+2-4 42K1.A+S401:-2+7+//.,+7.+:42
4,2490248+,9+7494<420+/+821= .:.+A-.2040+,<24F1,74./842+=I,
N+/;.2:.2.=+,74+919<-.9
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N:.+843.402+;.= zĞŶƐƵŶŽŵďƌĞƉƌĞŶĚĞƌĞŵŽƐĚĞĨƵĞŐŽ

dƌŝƵŶĨĂƌĄŶƵƐƚƌĂĂůŝĂŶǌĂĚŽŶĚĞĞǆŝƐƚĂůĂƐĞƉĂƌĂĐŝſŶ
-.,74F1.34<+/4:+./+31+O./;-.,04
dĞŚĞĞůĞŐŝĚŽůŝďƌĞŵĞŶƚĞǇŶŽƚĞĚĞũĂƌĞũĂŵĄƐ
-.,74,-X4-,48.,0.1, +72.O +9042
4O+8.<0+:-4F2.,7+.9:-;-7+.X42 4<4,34:Q92.9-90.,8-+<+2+7.S+20.F42S+2

4K1.91.X+984:4:+72..,:-
ZĞĨƌĆŽ͙
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N9-+C42+O4+8.<04.90+821= +2+//.;+20..,/+9:+,49:-A+,7.2+
9<42.9+<.294,+.9.-49
9<422-904.9E9 ͳͺͶǤ 2
.1:7-+1:+,S47.8/+241
ͳͲʹǤ VȋȌ K1.01.2+98C.-+7..195
342+<.,94VK1.:941.1
!1D9:-,C+;-7+41024.19,H4CQ
<+2+,H40.7-=.20+:AD:
!1D9:-,C+.902+7++:-,C+;.27+7.5
C.-+7.32+G+I:H.(
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C.-+7.32+G+I:H.+32+8-+7+5
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Q,H49.,0-2.-0.:42<4-9.90Q+K1- .+ +/+;2+.,9-,41
!1.90Q9,4:.-47.,I95 K1.04749CH47.84,8427+2
.+93.2+GM.90.<248/+:+2
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WŽƌƋƵĞƚĞƵƐůĄďŝŽƐƚƌĞŵĞŵƚĂŶƚŽĂƐƐŝŵ͍WŽƌƋƵĞŶĆŽƚŝƌĂŽƐƐĞƵƐŽůŚŽƐĚĞ !1:422.90.9<42+:42;-;..90Q9.:,I95
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!1D9:-,C+F42G+41024.19,H4CQ5
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KĐĠƵƐĞĞŶĐŚĞƵĚĞůƵǌƉŽŝƐǀĂŝŶĂƐĐĞƌ:ĞƐƵƐ͘
+7+,.90+;-7+,499.<+2+2Q5
^ĂŶƚĂDĂƌŝĂ͕ĞƵƐĞƐĐŽůŚĞƵͲƚĞďĞŵ
ƚŽĚŽƐŽƐŶũŽƐĐĂŶƚĂŵŵĠŵ͊ :01+9:H499.312+9:-,C+;-7+31+27+2Q95
1,H40.:.2.-4:+/!1:./-;2+2Q9
.,40.1<.27H4;-;.2.-5
ͳͺͳǤ A
4O:+72.;.,34+4F2.8.2:. ).,C427+;-7+82.-49.:<2..:0-L
1-.249.21,-,9021:.,047.01 += -/C4+/;+742.1.9<.24.:!-L

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4O:+72.O4K1-.249.31-20. !17.:-/8+:-,C49,4984,71=.9+1:+FD5
1-.24.90+2.,0-<429-.:<2. <42:-/.902+7+94,7.+,7+2:49,I9
/D;+:.7./+:+,401/+74C+90+./F-,+/5 K1+/94:.,0.,49/.;+2Q9L

DĂƌşĂ͕ǇŽŵĞĞŶƚƌĞŐŽĂƚŝ͕dſŵĂŵĞƉŽƌƐŝĞŵƉƌĞ͕ ͳͲ͵Ǥ

dŽĚŽƐůŽƐŵŝĞĚŽƐŚƵŵĂŶŽƐĚĞƵŶůĂĚŽĚĞũĂƌĠ͕ ŶĐŽŶƚƌŽĚĞDƷƐŝĐŽƐͲDĂƌŝŶŐĄ
,ŽǇƐſůŽŝŵƉŽƌƚĂƐdƷ͕ƉƵĞƐĞŶƚŝĞŶĐŽŶƚƌĠ͕ .,024740.19+,01Q2-4<49949.,0-240.1+:42
ŶĐŽŶƚƌĠůŽƋƵĞďƵƐĐĂďĂ͕ -,04..98104.::-,C++/:+
EƵŶĐĂŵĞĚĞũĞƐ͕ƚĞĂŵŽ͘ 9.1842<4.::.1842<41:9I842+GH45
4O:+72./-904.904O +C-9042-+84:-.,=+
N9I/4<-74<.2:+,.=8+9+K1P sĞũĂ͕ŶĆŽĞƐƚŽƵƐŽǌŝŶŚŽ͘
N/+:.0++/8+,=+2D +2+/+
/42-+7.01+:42+OE7+:.5 sĂŵŽƐƐŽůĚĂĚŽƐŶĂŵĞƐŵĂŵŝƐƐĆŽ
:ĞƐƵƐ͕ƐŽŵŽƐĨĞƌƌŽĞĨŽŐŽ͘
:ĞƐƵƐ͕ƵŵĂŶŽǀĂĞƐƉĂĚĂŶĂƐŵĆŽƐĚĞDĂƌŝĂ͕
ͳͺʹǤ ȋȌ ƋƵĞƉŽƌ^ĐŚŽĞŶƐƚĂƚƚƋƵĞƌĞŵŽƐůƵƚĂƌ͘
90+:49;-;49O;-;-:49+:+20..9,1.90247.90-,4 :ĞƐƵƐ͕ƉĞůŽƐĂŶŐƵĞĚĞƌƌĂŵĂĚŽŶĂĐƌƵǌ͘
1,K1..90.;-+S..97-90-,049I/4C+O1,94/48+:-,4 &ĂǌͲŶŽƐƐĂŶƚŽƐŵŽĚĞƌŶŽƐ͕ŶĂĂůŝĂŶĕĂĚĞĂŵŽƌ͕
/.3+2+;49/+/+/+555 ŶŽƐƐĂǀŝĚĂƋƵĞƌĞŵŽƐƚĞĚĂƌ͘͘͘:ĞƐƵƐ

I/4K1.7IC-.2A+9.8+<4274,7.+,0.9<-9+:49 !4:+.,C42.:01+9:H49,499+S1;.,017.4S.-047.9.2
4OC+OF/42.97.<12.=+<1.9C+8-+0-8+:-,+:49 #.:F+=:42+7+.:,I9
9<D2+,49/+/+/+555 02+=84:+/.32-++/1=74!+A425
&

ͳͲͶǤ ǡ ƐĞŵdĞƵŽůŚĂƌƚĆŽƉƵƌŽ͕ƚƵĂǀŽǌĞŶĐŚĞĂŵŝŶŚ͛ĂůŵĂ
.,C42.90Q+K1-<+2+:.+A2+G+2 DĂƌŝĂĚĂůŝĂŶĕĂ͕ƉĂůĂǀƌĂĨĞŝƚĂĨůŽƌ͘

4:4 H4.4#-,C4:.02+,9F42:+2Q5W

1:17.-0474:.18+,049I<2+94,C+284:01+A2-9+
:ĞƐƵƐ͕ĂůŝŵĞŶƚŽƋƵĞĚĄǀŝĚĂ͕ .,H4941:+-9K1.<I,484:-,C4:.9:4,H49.,74<I.9K1.8-745
:ĞƐƵƐ͕ƐŽƵŵĂŝƐĨŝůŚŽĚŽWĂŝ 1.249.2+<4,0.+0D48D1
:ĞƐƵƐ͕ĐŽŵŽĄŐƵĂǀŝǀĂƋƵĞƌŽůĞǀĂƌŽdĞƵĂŵŽƌ F.-047.A+224.F434K1.,+98.,4+,01Q2-45
:ĞƐƵƐ͕ĂůŝŵĞŶƚŽƋƵĞĚĄǀŝĚĂ͕
:ĞƐƵƐ͕ƐŽƵŵĂŝƐĨŝůŚŽĚŽWĂŝ ͳ͹ͺǤ A
:ĞƐƵƐ͕ĐŽŵŽĄŐƵĂǀŝǀĂƋƵĞƌŽůĞǀĂƌŽdĞƵĂŵŽƌĂŽƐŚŽŵĞŶƐ͕^ĞŶŚŽƌ 1.9-/.,8-4:+97./-8+74+:427./+:42:+9.984,7-745
2.9:1S.2<1.20+7./8-./402.984/42.9+742,+,01:+,045
ϭϬϱ͘ :^h^^dKhYh/ +S+,/+98+98+7+97./49+2A4/.9.8+.,C+90+./91./4O//.3+,+/+,01+2-4
,ĞƌŵĂŶĂ'ůĞŶĚĂ
.919.9041+K1-.919K1..9<.2+97.:-:(-,C+9:H49.90H4;+=-+9 YƵŝĞƌĞƐĚĂƌůĂŵĂŶŽǇǇŽƉĞĚŝƌůĂƚƵǇĂŶŽƉƵĞĚŽĞƐƚĂƌƐŝŶƚŝ͕
K1.<4994.,02.3+2>0.5 19I9.-K1.K1.249.27-F.2.,0.5 ƐŝŶƚƵŵŝƌĂĚĂƉƵƌĂ͕ƚƵǀŽǌŵĞůůĞŶĂĞůĂůŵĂ͕
.919.9041+K1-.919K1..9<.2+97.:-:(.194/C490.:.:+4 DĂƌşĂĚĞůĂĂůŝĂŶǌĂ͘WĂůĂďƌĂŚĞĐŚĂĨůŽƌ͘

4/C+2>0.51.2-+<47.2.,F2.,0+2>0.5
.8+:A-+740474:-8+,049I/4<+2+94X+201A2-9+
ŵĂƌĐŽŵŽdƵĂŵĂƐ͕^ĞŶƚŝƌĐŽŵŽdƵƐĞŶƚĞ͕ N,494O:Q9K1../<4/;4.,./8+:-,4+1,K1.,4.9<4/;47.014/;-745
KůŚĂƌĂƚƌĂǀĠƐĚŽƐƚĞƵƐŽůŚŽƐ͕:ĞƐƵƐ͘ 1-.249.21,<1.,0.C+8-+./8-./4C.8C47.A+224O7.F1.34K1.,+8.7./
ŽŶƚŝŐŽŵĞƵĐĂŵŝŶŚŽĠĚŝĨşĐŝů͘DĞĞǆŝŐĞƐĂďƌŝƌƵŵŶŽǀŽŚŽƌŝǌŽŶƚĞ͘ +,01+2-45
EĂƐŽůŝĚĆŽĚĂŵŝŶŚĂŶŽŝƚĞ͕:ĞƐƵƐ͘

H4,H4<4994+A+,74,+2>0..919.::-:!1.,02+90.
ͳ͹ͻǤ 2
C+A-0+90.02-1,F+90..;-;.9.::-:5
DĂƌŝĂĚĞEĂǌĂƌĠ͕DĂƌŝĂŵĞĐĂƚŝǀŽƵ͘
ϭϬϲ͘ :^j^^dKzYh1 &ĞǌŵĂŝƐĨŽƌƚĞĂŵŝŶŚĂĨĠ͕ĞƉŽƌĨŝůŚŽŵĞĂĚŽƚŽƵ͘

,ĞƌŵĂŶĂ'ůĞŶĚĂ
a9;.=.9.1<+24.F-84+<.,9+2.9.:<.28.A.2:.;.S4+2.=+25
.9E9.904O+K1P.9E9K1..9<.2+97.:P
:.1842+GH49.<M.+8+,0+2<2+;-23.:7.+=+2D5
:-9:+,49.90Q,;+8P+9K1D<1.744F2.8.20.
.,-,+K1..19+:41..984/C.1<2+H.7..9194-/C47..195
9I/49DK1.K1-.249.27-F.2.,0.
+2-+K1.4<4;4-,0.-24./.3.1.,C42+.H.748D15
.9E9.904O+K1P.9E9K1..9<.2+97.:P
:-94S490.:.,+/:-2+20.K1-9-.2+<47.2.,F2.,0+20. ǀĞDĂƌŝĂ͕ǀĞDĂƌŝĂ͕ǀĞDĂƌŝĂ͕DĆĞĚĞ:ĞƐƵƐ͘;ϮǆͿ

ŵĂƌ͕ĐŽŵŽƚƷĂŵĂƐƐĞŶƚŝƌĐŽŵŽƚƷƐŝĞŶƚĞƐ
ŵŝƌĂƌĂƚƌĂǀĠƐĚĞƚƵƐŽũŽƐ:ĞƐƷƐ͘
ͳͺͲǤ
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ĞŶůĂƐŽůĞĚĂĚĚĞŵŝŶŽĐŚĞ:ĞƐƷƐ͘ 1.:9.2Q90182-+012+A./+(1..,8C.1:.1K1+20484:01+/1=
0.14/C+2:.0241Y.+<+=01+<2.9.,G+:.2.F+=5
4,4<1.74+A+,74,+20..9E9.,:-<.,.02+90. 19414+,S4
+A2-./;.,C4.:,4:.74.,C42
.C+A-0+90.02-1,F+90.OC4O;-;.9.,:-5
&%

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F+2.:4984,0-344K1.2-9047-99.25 90.D4:4:.,047+:+-9<12+74+GH4
+99-::H.K1.2-7+748.<.2.32-,+ .K1.:9+A.+:+284:4,-,31D:S+:+-9+:415
21:+:49+40.:<4K1.9.7.98420-,+5 /.,497Q91+;-7+5
#-;.,74++/-+,G+0.19+,0484,;Z,-4
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9.2Q<+2+2-9044,4;4:-/Z,-45
+/-:.,047++/:+5
ͳ͹ͷǤ ! H4K1.7.98.1748D15
497Q4.1842<4..19+,31.5
-,3./+748..<12++2-+7.49D5
+2++,499+84:1,CH45
H.0.2,+..984/C-7+D9:H./.+/7+FD5
.1,4:.D+2-+7..195 :ĞƐƵƐ͕dƷĠƐĂũŽŝĂŵĂŝƐƌĂƌĂ͘&ŽŶƚĞĚĞǀŝĚĂƋƵĞŶĆŽƐĞĂĐĂďĂ͘

DĂƌŝĂ^ĂŶƚĂĞ&ŝĞů͕ĞŶƐŝŶĂͲŶŽƐĂǀŝǀĞƌĐŽŵĞƐĐŽůŚŝĚŽƐ͘ dĞĞŶƚƌĞŐŽƚŽĚŽŽŵĞƵƐĞƌĞŵŐƌĂƚŝĚĆŽ͘
WĞƌŵĂŶĞĐĞĞŵŵŝŵĐŽŵdĞƵĂŵŽƌ͕dĞƵĂŵŽƌŝŶĨŝŶŝƚŽ͘
KůŚŽƐǀŽůƚĂĚŽƐƉĂƌĂŽĐĠƵĞƉŽƌĞůĞĐŽŶƐƚƌƵŝƌĂŶŽǀĂǀŝĚĂ͘
^ĞůĂĞŵŵŝŵĂdƵĂƐĂůǀĂĕĆŽ͘
H.7+4A.7-Z,8-+7+32+G+.74+:425
1.49C4:.,99..,84,02.:,4F-/C47.90+F/425 ͳͲͺǤ
.1,4:.D+2-+7..195
/.3+90.0+,7.<24,04:-90.2-47.+:42
0194S49,.32498+/+24,C4,74]
OC+A-0+24,4981249/+7497.:-81.2<4C.2-74
ͳ͹͸Ǥ
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K1.D+,04.<47.2494C4S.+31+27+<42:.19-:5 +/0-.:<47.:-//+0-7497.:-842+=I,5
-,C++/:+8+,0+7.34=4:+2+;-/C+9F.=.::-:5 i-91<-.2+9./74,7.-49K1-D,0./4<-7.
0E;.,72P+9+A198+2:-+31+5i

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.,C42:.0.:+:+74:+-9K1.+49/P2-49748+:<45 WŽƌƋƵĞƚŽĚŽĞůƋƵĞďĞďĂĚĞůĂŐƵĂƋƵĞ
<./4 9<P2-04+,04./.C+A-0+C4S..::-:5 zŽůĞĚĠƚĞŶĚƌĄǀŝĚĂ͕ŶŽƚĞŶĚƌĄƐĞĚ͘
H48.99.,1,8+:.18+,04:+2+;-/C+9F.=.::-:5 WŽƌƋƵĞƚŽĚŽĞůƋƵĞďĞďĂ
ĚĞůĂĨƵĞŶƚĞĚĞŵŝǀŝĚĂůŝŵƉŝĂƌĄƐƵƐ
ŚĞƌŝĚĂƐŶŽƚĞŶĚƌĄƐĞĚ͘

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1.9-/Z,8-4:+-97./-8+74+:4274+:42:+-9.984,7-74 .9+31+7.01 9<P2-01.,:-842+=I,
D9!1:1/C.2<420+748D102Z9842.9.,F.-0+:0.1:+,045 84/:+04749:-98Q,0+249C.8C497.A+224
.98.:+98+98+0+97+9Q2;42.9 O01;-.,047.+:42:..,;1./;.5
K1.8+.:+0D48CH4.8C.3+:+4+,01Q2-45
/+31+K1.!E:.7+9/+;+/4:+,8C+74
YƵĞƌĞƐĚĂƌĂŵĆŽĞĞƵƉĞĚŝƌĂdƵĂ͕ŶĆŽƉŽƐƐŽĞƐƚĂƌƐĞŵdŝ͕ C+8.A240+27./:+/1,A-.,
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01,4:A2.32-0+2D8+,0+2D5 <42.90.8+:-,4K1..9843P9.284:4./ +72.
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ͳͲͻǤ <.24K1.01+72..90+2Q+//P5

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/:+/;+7.S+,74C1.//+902+97.9-
.9E9<42./;-+S.0.C+98+,9+74
<.248C4.,90+00K1-.2484,9021-21,:1,74,1.;45
-,.:A+234,40.-:<4204O.90Q9+K1P5
,./K1../C4:A2.0.,3+K1./18C+2
.9E9C.9+/-74+01.,81.,024
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!..9<.2+A+84,./842+=I,7.9<-.204
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2..9.,:P:.<2.31,0+90. OO4+72.:.84,9+324+;49.,0.24
N01:-2+7+9.8/+;I.,:-94S49 4O/+2.-,+7.:-842+=I,:+72.C1:-/7..98/+;+7./.X425
N482.4.,!-.X42O482.4.,!-h +=:.F1.20..,/++/-+,=+7.+:425

dĞĞŶƚƌĞŐŽƚŽĚŽŵŝĐŽƌĂǌſŶ͕ +72.C4OK1-.24C+A/+20.1,+;.=:Q9
>ŽƋƵĞŵĞĚƵĞůĞ͕ůŽƋƵĞƚĞŚŝĞƌŽ͕ .90+28.28+7.01842+=I,S1,04+;495
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dĞĐŽŶŵŽǀŝƐƚĞƉŽƌŵş͕ǇŵĞůůŽƌĂƐƚĞ^ĞŹŽƌ͕
WŽƌƋƵĞŵĞǀŝƐƚĞƐŽůŽĞŶŵŝŶŽĐŚĞ͕
ŶŵŝĚŽůŽƌ͘ ͳ͹ͶǤ !
dĞĞŶƚƌĞŐŽƚŽĚŽŵŝĐŽƌĂǌſŶ͕ DĆĞĂĚŵŝƌĄǀĞů͕ſŵĆĞƉĞƌĞŐƌŝŶĂ͕ĂƚƵĂǀŝƐŝƚĂĂƋƵĞĐĞĞŝůƵŵŝŶĂ
>ŽƋƵĞŵĞĚƵĞůĞůŽƋƵĞƚĞŚŝĞƌŽ͕ WŽŝƐƚƌĂǌĞƐĐŽŶƚŝŐŽƚĞƵ&ŝůŚŽ:ĞƐƵƐ͕ƋƵĞĠǀŝĚĂ͕ĐĂŵŝŶŚŽ͕ǀĞƌĚĂĚĞĞůƵǌ͘

>ŽĨƌĄŐŝůƋƵĞƐŽǇ͖ 42,499+17D-+I:H.84:8+2-,C4
dĞĐŽŶŵŽǀŝƐƚĞƉŽƌŵş͕ǇŵĞƚŽĐĂƐƚĞ^ĞŹŽƌ͕ 01;.,9+<2.99+7+.90Q9+8+:-,C45
WŽƌƋƵĞƚƵƐŵĂŶŽƐůŽƉƵĞĚĞŶƚŽĚŽ͕ 4,7.018C.3+9+<+=F+=:42+7+
ƐŝdƷĞƌĞƐŝŽƐ +9<420+99.+A2-,74.:8+7+8C.3+7+5
ǀŝǀŽƉŽƌdŝ͙
.0.1+,01Q2-401;.,9<.2.32-,+5
ͳͳͲǤ 32+G+02+=.,74K1./Q9.42-3-,+5
4+A2-2:.194/C49,4+/0+2 47+2>,49+A2-3402+,9F42:+9<24A.:
,4994+<4904/+74+A.,G4+90+:AD:5
#-48Q/-8.9+32+7484:49+,31.7..9195
7.7.,0247.999.:.9:48Q/-8.91A-+ ,-7++0.1-/C4D984>2.7.,042+5
+S.9049+ 18+2-90-+5 -/+32.9+/8+,G+9748.-,0.28.9942+5

Q31+D:17+7+.:;-,C47.+:42
:!1+<2.9.,G+.1:.9-,04
0+:AD:7..9<.2+,G+.7.FD,4.,C425
::.,7-349.,0+74\:.9+7.1:2.-5
9.:0.284:4<+3+20+:+,C+2.F.-GH4 .=+,74.;-;.,744+,0449Q2-4
I<49947+2>0..0.2,+32+0-7H4 9.2Q,499+8+9+.0+:AD:9+,01Q2-45
@@ $

1+,0+94/-7H4SQ,H49+A-++4,7.-2
KĐĄůŝĐĞĞĂŚſƐƚŝĂĞƌĂŵƵŵ
-99..919V^:1/C.2.-9+P40.1F-/C45
DĞƵĚĞƐĞũŽƚĂŵďĠŵĞƌĂĐŽŵĞůĞƐƐĞƌƵŵ͘
-/C4.-9+P01+H.5_

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!+,0+/18C+0+,0+;-7+0+,04+:42<42:-/-+,=+0..,02.3+9 +2-+,499+:H.=-,C+,4984,;-7+\1,-H45
N+1,K1.-,0.,0.,1,8+<1.7491<.2+2013.,.249-7+75 1+<2.9.,G+1,.F+=>,4904749:+-9-2:H495

499+.,C42+.9810+4,49949-/Z,8-4+,499+42+GH4
sŽǇĂǀŽůǀĞƌĂƚƌĄƐ͕ǇĨŝũĂƌŵĞƐŝŶĚƵĚĂƌ
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.902.+49+-2:497+K1-
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4-9941!.19.2;4 +-9.2;47+!1+/1=5

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@5 ! !
1+,74+;+3+2,+9:+0+9.F/42.90+9
@5 ! #B <+99+2.74+/.32.41G4+8+,0+2
/C+,7449:4,0.9;+/.9.F/42.90+9
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0.1<47.2:4902+,74+82-+GH4

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1+,74.1:.7-04.:9.1+:420H432+,7.
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.,C42K1+,740.;.S4,49+82+:.,047+84:1,CH45 DĞĂũƵĚĂĂĞŶƚĞŶĚĞƌ
-,0448D19.+A2-2.1:+/1=+:.+0-,3-2 KƋƵĞĞƵĚĞǀŽĨĂǌĞƌĞƐŽĨƌĞƌ
.9F2-+,74:-,C+8+A.G+..9K1.,0+,74:.1842+GH45 ŽŵĞƵ^/DƐĞũĂƉĞƌƉĠƚƵŽ
ŽƐĚĞƐĞũŽƐĞĂŽƋƵĞƌĞƌ
.,C4232+G+9./41;42.99.S+:7+749+0474:4:.,04
;ϭǐ͘ǀĞǌͿ
K1.240./41;+2,+742++/.32-+.,494F2-:.,045 ƐƉşƌŝƚŽĚĞĞƵƐ
9..::.-4\02-A1/+GH4.1:..9K1.8.27.0- ;Ϯǐ͘ǀĞǌͿ
/1:-,+:-,C+902.;+984:!1+/1= ŽŵĞƵƚĞƌŶŽWĂŝ͘͘͘;ϮǆͿ
ƐƉşƌŝƚŽĚĞĞƵƐ
:ĞƐƵƐ͕ĨŽŶƚĞĚĞŵŝƐĞƌŝĐſƌĚŝĂƋƵĞũŽƌƌĂĚŽƚĞŵƉůŽ͘
:ĞƐƵƐ͕K&ŝůŚŽĚĂZĂŝŶŚĂ ͳ͸ͶǤ
:ĞƐƵƐ͕ƌŽƐƚŽĚŝǀŝŶŽĚŽŚŽŵĞŵ͘ +7+7./4:P40..9+S.,4
:ĞƐƵƐ͕ƌŽƐƚŽŚƵŵĂŶŽĚĞĞƵƐ OO+,+7+<1.7.9.<+2+2:.7.!-
./0.:42C+9-74;.,8-74
C.34:1-0+9;.=.9.:!1+8+9+:.1.,C42]
0474/4K1.94O918.7..,!-
!2-90.+A+0-74<2.8-9+,747.+:425 0474/4K1.94O:.C+A/+7.!-5
+97.<4-97+84:1,CH4!1+8+9+D:.1842+GH45
,0H49-,0448D17.,0247.:-:5 sƵĞůĂƚƵǀŽǌƐŽďƌĞŵŝƐĂŐƵĂƐ
H484:1,34<42K1.:.2.G4-994.19.-4C:.1.,C425 ĞƐƵŶĂƉĂůŽŵĂƋƵĞŵĞƌŽǌĂĂůǀŽůĂƌ
ŵĞĞůĞǀĂƐ͕ŵŝŝŶƵŶĚĂƐ͕ŵĞƚƌĂƐƉĂƐĂƐ
4:1,34<4-9<2.8-947.!-5
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1+,74F+/0.-\:-99+F13-+7.:-:.7.!-
:+9+342+.1;4/0.-<42F+;42+8.-0+>.5
-F1.2=+,4.90Q.,/4K1.K1-.24
,-.,:-49812-7+7:.481/047.!-
ͳʹʹǤ ʹʹǦ :-F1.2=+.91,8+,04K1.+:+,.8.
K1.9./.;+,0+9I/4<42!-
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4.,C42K1.:./.;++7.98+,9+2
1,04\9F4,0.97.Q31+9<12+92.<419+,0.9.1;41 N+,+7+A1984,+7+K1-.24
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.+9,499+9.9<+/C.:+99.:.,0.95
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);.: 9<P2-04+,04 .+9Q31+974:+27+;-7+K1-9.2.:0.+F43+2
+2+,49-,8.,7-+2 .312+,+:H47..19.;+-5
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DĞĨŽƌƚĂůĞĐĞĞŝůƵŵŝŶĂ .312+,+:H47..19.;+-5

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WŽŝƐĞůĂ͕ĞůĂƚĞƐƵƐƚĞŶƚĂƌĄ͘ ;W͘:ƵĂŶ/ŐŶĂĐŝŽWĂĐŚĞĐŽͿ
EĆŽƚĞŵĂƐ͕ƐĞŐƵĞĂĚŝĂŶƚĞĞŶĆŽŽůŚĞƐƉĂƌĂƚƌĄƐ͘ 4:4+,0.9:Q9K1.+,0.9:42
^ĞŐƵƌĂŶĂŵĆŽĚĞĞƵƐĞǀĂŝ͘ 94</+01;-.,04;., 9<P2-017.:42

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.+S42,+7+D<.9+7+.0.8+,9+97+8+:-,C+7+ 9-.:A2+01C1.204-,1,7+:-842+=I,5
.312+,+:H47..19.;+-5
2+,74S.S1+,7484,F-+,74.84,F.99+,745 4:4+,0.9:Q9K1.+,0.9:42
.312+,+:H47..19.;+-5 94</+01;-.,04;., 9<P2-017.:42]
+/-.,0+./+/:+7+.9<.2+,=+7+8+/42555
!E:.84,48.9O:.+:+984:494O5
ͳʹͷǤ V ŽŵŽĂŶƚĞƐ͕ŵĄƐƋƵĞĂŶƚĞƐ͘͘͘
#+9.,02+,74.,:-8-17+7O0+,0+3.,0.
K1.9.+34/<+<+2+;.2K1-D,.9+K1./ 4:4+,0.9:Q9K1.+,0.9:42
2.9!E.2.9!E5 94</+01;-.,04;., 9<P2-017.:42]
!P:-7+:.,0.:.2.<248C4K1.C4O0+:<484 .,8-.,7../1.34K1.7+;-7+.,84:1,-I,
0.;.2D5N94,.:A+234.,81.,024./:4747.F-,3-2 9-.:A2+01C1.204-,1,7+:-842+=I,5
K1.-31+/,4/4K1.2P+C+8.2531+/,4/4K1.2P+C+8.25
4:4+,0.9:Q9K1.+,0.9:42
WĞƌŽĞƐƚĄƐƉĂƐĂŶĚŽƉŽƌĂƋƵş͕ǇĂůŐŽĞƐƚĄ 94</+01;-.,04;., 9<P2-017.:42]
ƉĂƐĄŶĚŽŵĞĂŵş͘ +/-.,0+./+/:+7+.9<.2+,=+7+8+/42555
!E:.84,48.9O:.+:+984:494O5
sŽǇĂƐƵďŝƌŵĞĂŵŝǀĞƌĚĂĚ͕ƉĂƌĂĂĐĞƉƚĂƌŵĞ ŽŵŽĂŶƚĞƐ͕ŵĄƐƋƵĞĂŶƚĞƐ͕ŵŽƌ͙;ϮyͿ
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ŵŝƌĞƐĐŽŶĂŵŽƌ͘;ϮyͿ

ͳ͸ͳǤ AǦ
#+9.,02+,74.,:-8+9+O/+9849+9 ŶǀŝĂƚĞƵƐƉşƌŝƚŽ^ĞŶŚŽƌ͕ĞƌĞŶŽǀĂĂĨĂĐĞĚĂƚĞƌƌĂ;ϮǆͿ
K1.,4K1-.24K1.7.981A2+994A2.:P >.,7-=.I:-,C++/:++4.,C42L
.90Q,+K1P.90Q,+K1P5 :.1.19.:.1.,C4284:494-932+,7.L
A2.984,F1.2=+/+9;.,0+,+9K1.+,0.9,4
.:+S.90+7...9</.,742;492.;.90-9
2.84,48PO0474./94/7./+:+X+,+:.7.;./+, .7./1=;49.,;4/;.-984:4,1::+,045

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>0.22+;I9F-2:+90.9.:91+9A+9.9
,ŽǇŚĂƐǀƵĞůƚŽĂĐŽŶĨŝĂƌĞŶŵş͕ F-8+2QF-2:.<./499D81/499.:F-:5
zƋƵŝĞƌŽƌĞŐĂůĂƌƚŽĚŽƉŽƌƚŝ͘ 9:+2.9+84A2-2+:84:41::+,04
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zƋƵĞŵĞŵŝƌĞƐĐŽŶĂŵŽƌͿ >+=.-9A240+2.::.-4+49;+/.9+9,+98.,0.9
K1.<+99+:9.2<.+,74.,02.+9:4,0+,C+95
a991+9:+23.,9;.::42+249<+99+2-,C49
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7.8-7-<+2+9.:<2.9.31-2>0.,H4;4/0+2+02Q9
.<19.90.1:+A2+9+,4<.-04.1:+F/.8C+,++/:+
D7-FP8-/+342+;-;.29.:/.:A2+2>:.7.0-

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5 #
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1<.,9.-K1.+984-9+974:1,74,H4-2-+::.7.221A+2
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4<.8+747.;+90414:.1;-;.25

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#.:..1:4902+2.-K1.4:.18+:-,C40./.;++4 +-
31-+2.-49<+99490.19.S1,047.!-C.-7.9.31-25 I<42!-.919K1.24:.84,91:-2
-:.1-2.-.9+A.2.-84:48C.3+2+4F-:5 4:4;./+K1.K1.-:+,4+/0+25.84,91:-27.+:425
.4,7.;-:+4,7.;41V<424,7.-2Q9-2.-0+:AD:5 I.:!-.919K1.24:.7.22+:+25
4:442-49..,02.3++4:+25.7.22+:+27.+:425
#.:..10.7-2.-4K1.+-,7+.90Q9+<24812+25
;.27+7.D84:4494/.-,;+7-2Q40.1842+GH45 WŽŝƐdƵĠƐŽŵĞƵĂŵƉĂƌŽ͕ŽŵĞƵƌĞĨƷŐŝŽ͕ĠƐĂůĞŐƌŝĂĚĞŵŝŶŚ͛ĂůŵĂ͘
-:.1-2.-.+<2.,7.2.-:-,C+2+=H47.9.25 ^ſĞŵdŝƌĞƉŽƵƐŽĂŵŝŶŚĂĞƐƉĞƌĂŶĕĂ͕ŶĆŽǀĂĐŝůĂƌĞŝ͘
182.-4.:!-K1.82Z9.::-:.\!1+/1=;.2.-+/1=5 ŵĞƐŵŽŶĂĚŽƌ͘YƵĞƌŽƐĞŐƵŝƌĂƚĠŽĨŝŵ͘
^ſƉŽƌdŝ͕:ĞƐƵƐ͘
#.:..10.F+2.-7+:-,C+;-7+<+20-8-<+25
#-;.2Q9.::-:+K1-V;-;.2.::-:D4A.::+-425
-:.1-2.-.;-;.2.-+;-7+-,0.-2++99-: ͳͷͺǤ !
.0.2,-7+7.D,+;.27+7.4+:42;-;.,749.:<2..:,I95
!H491A/-:.+82+:.,04+742.:49,.90.+/0+25
#.:K1.+0.22+.9<.2+K1.:<499+.K1.-2+2.+/-=+2 4-94+,0-340.90+:.,047.1+4,4;49.1/13+25
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DĂƐĂŽŵĞǀĞƌŶĂĞƐƚƌĂĚĂĂŽůŽŶŐĞǀŽůƚĂƌ
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DĂƐŽůŚĂŶĚŽĞŵŵĞƵƐŽůŚŽƐƐŽŵĞŶƚĞŵĞĂŵŽƌ
ĂŽŵĞďĞŝũĂƌ͕ŵĞĂĐŽůŚĞƵŶƵŵĂďƌĂĕŽĚĞWĂŝ͘
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1-.249.29+,04.X42:.81.90+0+,049.31-20.5
ͳ͵ͲǤ
V 1-.249.29+,04.X42<42K1.;49:./4<.7-90.5

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ƵŶƋƵĞƌĞǀŝĞŶƚĞ͕ĂƵŶƋƵĞŵĞŵƵĞƌĂ
P2-474#+/..902./+7++,CH5 +2+9.:<2.8+,0+2.-49.1/41;425 ^ſůŽůĂŶǌĂĚŽĂůĂĂǀĞŶƚƵƌĂĚĞƚƵĂŵŽƌ͕
P2-474#+/. 902./+7++,CH5 ŵŝǀŝĚĂƚŝĞŶĞƐĞŶƚŝĚŽ͘;ϮyͿ
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K1..90QA240+,74K1..90QF/1-,74 #+:492.8.A.2+,499+<+=L#+:49+84/C.22-904.,02.,I95
1..90QF/1-,747.,0247.:-: +742+24+:42.+742+24.,C425
1:2-4K1.+;+,G+1:2-4K1.+;+,G+.:+742+GH4.:+742+GH4
7-2-3-74<+2+!-.,C42.9192.8.A.>45 sŝĞŵŽƐƉĂƌĂĂĚŽƌĂƌĞũƵŶƚŽƐǀĂŵŽƐĐĂŶƚĂƌ͘
sŝĞŵŽƐƉĂƌĂĂĚŽƌĂƌŽ^ĞŶŚŽƌ
ĞũƵŶƚŽƐŶŽƐĞŶƚƌĞŐĂƌ͕ŶĂůŝĂŶĕĂĚĞŵŽƌ͘
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ͳͷͳǤ A ƋƵĞĂƋƵĞĐĞĞŵĞǆĞĐŽŵŽĐŽƌĂĕĆŽĚĂŐĞŶƚĞ͘

8+:-,C4,+,4-0..9812+
ĐŽŵŽƵŵƐŽŶŚŽ͕ĠĐŽŵŽƵŵƐŽŶŚŽ͘
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H4CQ742,H4CQ:+-9:.74 KƵƚƌĂǀĞǌ
.=>9.+<+=2.;./41>9.49.32.74D.919
#-.:49+742Q>/4 ͳ͵͵Ǥ

WƌşŶĐŝƉĞĚĂƉĂǌŚŽŵĞŵĞƵƐ #.:.,C42.919:.1842+GH4SQA+0.F420.+40.;.2
ƉĞƌĨĞŝƚĂŚĂƌŵŽŶŝĂ͕ǀĞƌĚĂĚĞ͕ĂůĞŐƌŝĂ 01+A.,GH4C4S..1K1.242.8.A.29.:+A.,GH474.,C42,H49.-;-;.25

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ƐŶŽƐƐĂůƵǌŽƐĞŶƚŝĚŽĚĂǀŝĚĂĂĂĂ :1/0-7H4/Q748+:-,C4+0..9<.2+25
sŝĞŵŽƐĂĚŽƌĄͲůŽ͘ #.:4C9+,047.92+./<+99+20+:AD:,.90./13+25

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8C+:+749<420-+9+,0-7+7.5 ĞŵĂƋƵŝ͕ƚĆŽƉĞƌƚŽƐĞĚĞŝǆĂĞŶĐŽŶƚƌĂƌ͘
.;+,7401+821=<./4:1,74 ŝĂŶƚĞĚŽƌĞŝĚŽƐƌĞŝƐ͕ƚŽĚŽũŽĞůŚŽƐĞĚŽďƌĂƌĄ͘
2.99123-2Q,4;+C1:+,-7+7. ŝĂŶƚĞĚŽƌĞŝĚŽƐƌĞŝƐ͕ƚŽĚŽũŽĞůŚŽƐĞĚŽďƌĂƌĄ͘
H4CQ742,H4CQ:+-9:.74
.=>9.+<+=2.;./41>9.49.32.74 ͳ͵ͶǤ
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1,049,4842+GH47..195 .9E90.+7424<1.9<420-.90474./+:42K1.O49-.,04
42F+;422.3Q/+:./+9.,8-//.=7.01+/:+
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1.:7.-Y+9.1<+-<42:-:91+:H.<42:-: ƌĞƐŵŝ^ĞŹŽƌ͕ŵŝŝŽƐ͘
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2
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9.-K1..::-:7I-;.2>!.<2.3+745
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!474/4K1.<1.747+25
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N,1.;+#-7++9P:.7+95 YƵĞƌŽǀŽůƚĂƌ͕ĂƐĞƌͲdĞĨŝĞů͕&ŝĞů͘

dŽŵĂĚĞŵŝŵŽƋƵĞƚĞƐŝƌǀĂ͕ƉĂƌĂĚĂƌͲŵĞĂŽƐĚĞŵĂŝƐ͘
ͳ͵ͷǤ 2
dŽŵĂĚĞŵŝŵŽƋƵĞƚĞƐŝƌǀĂ͕ƐŽƵdĞƵĞŶĂĚĂŵĂŝƐ͘
H4,H4CQ5H4,H4CQ5H4CQ:+/K1..1,H4<499+;.,8.25Y

,ŽũĞƋƵĞƌŽƐĞƌdĞƵŝŶƐƚƌƵŵĞŶƚŽ͕WƌŽĐůĂŵĂƌĂǀĞƌĚĂĚĞĚĞdƵĂƉĂůĂǀƌĂ͕
WŽŝƐƚƵĚŽƉŽƐƐŽŶĂƋƵĞůĞƋƵĞŵĞĨŽƌƚĂůĞĐĞ ĚĞdĞƵĐŽƌƉŽ͘ĞdĞƵĂŵŽƌĞƚĞƌŶŽ͕KŶĚĞŐƌĂŶĚĞĠƐĞƌƉĞƋƵĞŶŽ͘
dƵĚŽƉŽƐƐŽĞŵ:ĞƐƵƐƌŝƐƚŽ;ϮǆͿ 248124.,84,02+2>!..::.19-2:H49:+9<+2.8.-:<499P;./9.:.:+:+25
41F2+84.!.<.G4K1.!1+9:H49+A2+:<4184+<41844:.1842+GH45
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ĞƵƐĠŐƌĂŶĚĞ͕ƐƵƉƌĞŵŽZĞŝ͘;ϮǆͿ
+-,4994K1..90+-9,48D1
.:+02-90.=+,.::.9:4+742<47.2Q91<.2+24+:427..195Y +,0-F-8+749.S+4#4994,4:.

#.,C++,I94#49942.-,4
ĞƵƐĠŵĂŝŽƌƋƵĞƚƵĚŽƋƵĞŵĞĂĐŽŶƚĞĐĞ͘ .S+F.-0++#499+;4,0+7.
ĞƵƐĠŐƌĂŶĚĞ͕ƐƵƉƌĞŵŽZĞŝ͘;ϮǆͿ 99-:,+!.22+84:4,48D1

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ĞƵƐĠŵĂŝŽƌƋƵĞƚƵĚŽƋƵĞŵĞĂĐŽŶƚĞĐĞ͘ 99-:84:4,I9<.274+:49
ĞƵƐĠŐƌĂŶĚĞ͕ƐƵƉƌĞŵŽZĞŝ͘;ϮǆͿ K1.:,490.:4F.,7-74
,H4,497.-Y.-98+-2.:0.,0+GH4.:0.,0+GH4
+9/-;2+->,4974:+/5
ͳ͵͸Ǥ
1.249+A.2<42K1.,H4+82.7-0+9 ͳͷͲǤ
1.249+A.2<42K1.,H40.,984:40.1.,C425

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1.FD;48Z0.:(FDK1.84,;D:5 !4:++!1+7-2.GH4

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