Tema 2 - Higiene Corporal en La Movilizacion de Enfermos PDF

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? = 8 .
$HFI $HFI $HFI $HFI
*FK1I GAJ9FK1I K M K M K M K M
? K M M M M G G G
? = M M M M G G G G
8 M G M G G G
? M M M G G G
= = M M M G G G
8 M G G G G E
? M G G G E E
8 = M G G G E E
8 M G G E E
? G E E
. = G E E
8 G E E 5 5
? E E E E E 5 5 ;
4 = E 5 5 5 5 ; ; ;
8 5 5 5 ; ; ; ; 1
? ; ; ; ; ; 1 1 2
( = ; 1 1 1 1 2 2 2
8 2 2 2 2 2 2 2 2
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>BGABKCH<GL@JLEKL7IDABFKL@JELAFIGCI
>BGABKCH<GL ? = 8 . 4 (
7IDABFKL
CBJEEI >HJFGKD >HJFGKD >HJFGKD >HJFGKD >HJFGKD >HJFGKD
? = ? = ? = ? = ? = ? =
? K G M G G E E 5 5 ; ;
= M G M G E E E 5 ; ; ;
8 G G G E E 5 5 ; ; ;
. E E E 5 5 ; ; ; ; ; 1 1
4 ; ; ; ; ; ; 1 1 1 1 1 1
( 1 1 1 1 1 1 1 2 2 2 2 2
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>BGABKCH<GL
>BGABKCH<G
? = 8 . 4 ( !
3
? K M G G E E
= M M G E E
8 G G G E 5
. G G G E 5 5
4 E 5 ; ;
( E 5 5 ; ;
! E E 5 5 ; ; ;
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KJOTSVFRO@TMTSDV'TBVAJUVLRPSQMUOTOVAJUVNTSVKTOUTSVAJUVSUVOUTNQ@TP
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LQRPUSVRVKOTPSFUOUPLQTS?VUKLD-VKQUPUPVMQSKQPKRSVOUAJQSQKRSVIRSKJOT>
NUSDV *THGQ0PV MUGUV SUOV LRHITKQGNUV LRPV UNV JSRV MUV TBJMTSV B
UNUHUPKRSVHUL<PQLRSV/IROVU=UHINR?VCO2TSVMUVKOTPSFUOUPLQT-D
0L>L
✓ JUVMQSIRPCTVMUVLTGULUORVBVIQULUORD
✓ !V1JUMTSVIQERKTPKUSVLRPVFOUPTMRVLUPKOTNQ@TMRD
✓ .RHQUOV 6=JSKTGNUDV 9NV P2HUORV MUV H

MJNRSV ;TPV MUV SUOV !V /
V $
H
MJNRSVLRPVH
MJNRVLUPKOTNVFQ=R-DV*QIRVMUVTLLQRPTHQUPKR8V9N0L>
KOQLRV/SUVMUSTLRPSU=TVNTVOUCJNTLQ
PVHTPJTNVIROVIUMTNVRVHTPQEUNT-
✓ .RHQUOVMUVTNKJOTVETOQTGNUV/*QIRVMUVTLLQRPTHQUPKRVOULRHUPMTMR8
9N0LKOQLR?VTJPAJUVKTHGQ0PVUSVTMHQSQGNUVNTVOUCJNTLQ
PVIROVIUMTN-D
1TPCRVMUVTNKJOTVOUCJNTGNUVSRHQUO>SJUNR8V!%>%VLHD
✓ 6NKJOTVNQGOUVGT=RVNTVLTHTVITOTVLRHITKQGQNQMTMVLRPVCO2TS8VV# %
HHDVTNVHUPRSVUPVJPTVNRPCQKJMVMUV %%VHHDVTVLTMTVNTMRVMUNVU=U
MUVSQHUKO TVKOTPSEUOSTNVMUVNTVLTHTD
✓ "TOTPMQNNTS8VRILQRPTNUSV/OUCJNTGNUS?VHU=ROVAJUVMUSHRPKTGNUS-DV
4C.<GIJMK8K>ACIJM@KMDL>LJ
■ 4THTVGTSLJNTPKUVBVCQOTKROQT
4RHIJUSKTVIROVJPTVUSKOJLKJOTVHUK<NQLTVTOKQLJNTMT?VIRSQGQNQKTVOUT>
NQ@TOVNTVQPLNQPTLQ
PVMUVNTVLTHTVLRPVTPCJNTLQ
PVNTKUOTNVMUSMUVJPT
IRSQLQ
PV;ROQ@RPKTNV;TSKTVJPRSV%DV7UOHQKUVTNVIORFUSQRPTNVHRMQFQ>
LTOVNTVIRSQLQ
PVMUNVITLQUPKUVUPVNTVLTHTVSQPVPULUSQMTMVMUVUFULKJTO
HREQNQ@TLQRPUSVHTPJTNUSD
# :TV7OUEUPLQ
PVMUV1QUSCRSV:TGROTNUSVBVNTV,REQNQ@TLQ
PVMUVITLQUPKUSVBVLTOCTSVITOTV*469V
PVMUVUPFUOHRS
■ 4THTVUNULKORLQOLJNTO
4RHIJUSKTVIROVMRSVL OLJNRSVHUK<NQLRSVJPQMRSVIROVJPVINTPRVO CQMR

AJUVCQOTVSRGOUVNRSVTPKUOQROUSDV9SK<VQPMQLTMTVITOTVITLQUPKUSVAJU
OUAJQUOUPVQPHREQNQ@TLQ
PVLRHINUKTVIUORVAJUVMUSUTPVTMRIKTOVIR>
SQLQRPUSVBVIRSKJOTSVPROHTNUSDV7UOHQKUPVTNVIORFUSQRPTNVHRMQFQLTO
NTVIRSQLQ
PVMUVNTVIUOSRPTVMUIUPMQUPKUVUPVNTVLTHTVSQPVPULUSQMTM
MUVUFULKJTOVHREQNQ@TLQRPUSVHTPJTNUSD
■ 4THTSVTOKQLJNTMTS
4RHIJUSKTSV IROV JPV SRHQUOV HUK<NQLRV FROHTMRV IROV 5V

V $V SUC>
HUPKRSVH
EQNUSV/USITNMT?VIUNEQSVBVU+KOUHQMTMUSVQPFUOQROUS-DV:T
OUCJNTLQ
PV IJUMUV OUTNQ@TOSUV HUMQTPKUV JPTV HTPQEUNTV RV LRP
HTPMRV TV MQSKTPLQTV UPV UNV LTSRV MUV NTSV ;QMO<JNQLTSV BV UN0LKOQLTSD
7UOHQKUPVTNVIORFUSQRPTNVHRMQFQLTOVNTVIRSQLQ
PVMUVNTVIUOSRPTVMU>
IUPMQUPKUVUPVNTVLTHTVSQPVPULUSQMTMVMUVUFULKJTOVHREQNQ@TLQRPUS
HTPJTNUSD
■ 4THTSVMUVSRHQUOVO CQMR
4RHIJUSKTSVIROVJPVSRHQUOVO CQMRVSQPVTOKQLJNTLQRPUSVAJUVIRSQGQNQ>
KTPVNTVETOQTLQ
PVMUVNTVQPLNQPTLQ
PVMUVNRSVIQUSVBVMUNVLTGU@TNVMUVNT
LTHTVHUMQTPKUVJPTVHTPQEUNTDV7UOHQKUPVTNVIORFUSQRPTNVHRMQFQLTO
NTVIRSQLQ
PVMUVNTVIUOSRPTVMUIUPMQUPKUVUPVNTVLTHTVSQPVPULUSQMTM
MUVUFULKJTOVHREQNQ@TLQRPUSVHTPJTNUS
4C.<GIJMLDDKJIHFIJM
■ "TOTPMQNNTVMUVTSQSKUPLQTVUPVLTHT
.RIROKUVAJUVSUVQPSKTNTVUPKOUVUNVLRNL;
PVBVUNVSRHQUOVMUVNTVLTHTVB
IUOHQKUVAJUVNTVIUOSRPTVMUIUPMQUPKUVOUTNQLUVUSFJUO@RVITOTVSJGQO
BVGT=TOVMUVNTVLTHT?VTBJMTPMRVTNVIORFUSQRPTNVMJOTPKUVNTVKOTPSFU>
OUPLQTD
■ "NRAJUSVVTCTOOUSVITOTVNTVLTHT
6CTOOTMROUSVAJUVSUVFQ=TPVTVNTVUSKOJLKJOTVMUVNTVLTHTVBVIUOHQKUP
AJUVNTVIUOSRPTVMUIUPMQUPKUVU=UO@TVFJUO@TVLRPVNRSVGOT@RSVTNVQP>
LROIROTOSU?VSJGQOVRVGT=TOVMUVNTVLTHT?VOUMJLQUPMRVUNVUSFJUO@RVOU>
TNQ@TMRVIROVUNVIORFUSQRPTNVMJOTPKUVNTVKOTPSFUOUPLQT
:TV7OUEUPLQ
PVMUVITLQUPKUSVBVLTOCTSVITOTV*469V #
PVMUVUPFUOHRS
■ &QSIRSQKQERSVITOTVHREUOVLTHTS
9SKOJLKJOTVHUK<NQLTVLRPVOJUMTSVBVMRSV;ROAJQNNTS?VUSIULQTNHUPKU
MQSU(TMTSVITOTVKOTPSIROKTOVLTHTSVRVLTOORSD
7UOHQKUPVTNVIORFUSQRPTNVMUSINT@TOVHRGQNQTOQRVUSK<KQLRVSQPVPULUSQ>
MTMVMUVOULJOOQOVTVNTVHTPQIJNTLQ
PVHTPJTNVMUVLTOCTSD
■ 9NUETMROUSVMUVLTHT
.RIROKUSVFQ=RSVAJUVLRNRLTMRSVGT=RVNTSVITKTSVQPLOUHUPKTPVNTVTNKJOT
KRKTNVMUVNTVLTHTDV7UOHQKUPVTNVIORFUSQRPTNVUNUETOVNTVSJIUOFQLQUVMU
NTVLTHTVIUORVTVJPTVTNKJOTVFQ=TV/SQPVIRSQGQNQMTMVMUVOUCJNTLQ
P-D
■ "T(UOTVITOTVLTHT
&QSIRSQKQERVLRHIJUSKRVIROVJPTVGTSUVO CQMT?VMRSVITPUNUSVNTKUOTNUS
BVJPRVFORPKTNDV.UVLRNRLTVGT=RVNTVIUOSRPTVMUIUPMQUPKUVUPLTHTMT
BVIUOHQKUVMJL;TONTVHUMQTPKUVJPVCOQFRVMRKTMRVMUVHTPCJUOTVBVJP
SJHQMUORVITOTVNTVUETLJTLQ
PVMUNVTCJTDV9EQKTPVAJUVUNVIORFUSQRPTN
KUPCTVMUVMUSINT@TOVTVNTVIUOSRPTVMUIUPMQUPKUV;TSKTVUNVLJTOKRVMU
TSUR
■ 9SLTNTSVMUVLJUOMT
9SLTNTSVMUVLJUOMTVAJUVSUVFQ=TPVTVNRSVIQUSVMUVNTVLTHTVBVIUOHQKUP
AJUVNTVIUOSRPTVMUIUPMQUPKUVSUVQPLROIROUVIORCOUSQETHUPKU?VSJ>
=UK<PMRSUVMUVNRSVGTOORKUSVBVHQPQHQ@TPMRVUNVUSFJUO@RVMUNVIORFU>
SQRPTNVMJOTPKUVNTVHREQNQ@TLQ
PD
0L>FCCL
5%% :TV7OUEUPLQ
PVMUVUPFUOHRS
1UCJNTGNUVUPVTNKJOTDV:TVOUCJNTLQ
PVIJUMUVSUOV;QMO<JNQLTV/IROVVIUMTN-
RVUN0LKOQLTDV6JPAJUVSUVOULRHQUPMTVNTVOUCJNTLQ
PVUN0LKOQLT?VUPVNTSVLRP>
SJNKTSVH0MQLTSVKTHGQ0PVIJUMUVSUOVTMULJTMTVNTV;QMO<JNQLTDV9NVMQSU(RVMUN
HTPMRVMUVLRPKORNV;TVMUVIUOHQKQOVSJVF<LQNVTLLQRPTHQUPKRD
4TGU@TNVOUCJNTGNUVUPVQPLNQPTLQ
PDV.UVTLRPSU=TVTNC2PVSQSKUHTV;Q>
MO<JNQLRVIROVHTPQEUNTVRVSQHQNTODV.UVMUSTLRPSU=TVNTVOUCJNTLQ
PVHUMQTPKU
LOUHTNNUOTVMUPKTMTD
✓ !V1JUMTSVLRPVFOUPRDV.QVNTVLTHQNNTVETVTVUSKTOVNTVHTBROVITOKUVMUN
KQUHIRVUPVUNVHQSHRVSQKQR?VNTSVOJUMTSVIJUMUPVSUOVOUKO<LKQNUSD
✓ 7ROKTVORNNRVMUVITIUNVFQ=TMRVUPVIQULUORVRVLTGULUOR
✓ &QHUPSQRPUSVMUNVNUL;R8VH PQHTSV#%V+V%VLHD
✓ 6NKJOTDV9NVOTPCRVMUVOUCJNTLQ
PVUPVTNKJOTVOULRHUPMTMRVMUGUVUSKTO
TIOR+QHTMTHUPKUVUPKOUV %VBV VLHD
4C.<GIJMK8K>ACIJM@KMDL>FCCLJ
■ 4THQNNTSVLRPVMQSIRSQKQERSVMUVKOTPSFUOUPLQT
4THQNNTSVH
EQNUSVT=JSKTGNUSVUPVTNKJOTVAJUVQPLROIROTPVKTGNTSVMUS>
NQ@TPKUSV/TLLQRPTMTSVHTPJTNVRVHUL<PQLTHUPKU-D
7UOHQKUPVTNVIORFUSQRPTNVKOTSITSTOVTVIUOSRPTSVMUIUPMQUPKUSVKJHGT>
MTSVMUVJPTVSJIUOFQLQUVTVRKOTVSQPVOULJOOQOVTVNTVHREQNQ@TLQ
PVHTPJTND
■ 4THQNNTSVMUVMJL;T
4THQNNTVOUCJNTGNUVUPVTNKJOT?VLRPVGTOTPMQNNTSVBVLJTKORVOJUMTSVLRP
SQSKUHTVMUVFOUPRDV4RPSKTVMUVJPTVLRNL;RPUKTVGNTPMTVLRPVLTPTNUS
ITOTVNTVUETLJTLQ
PVMUNVTCJTDV9EQKTPVAJUVUNVIORFUSQRPTNVKUPCTVMU
MUSINT@TOVTVNTVIUOSRPTVMUIUPMQUPKUV;TSKTVUNVLJTOKRVMUVTSURD
■ 4THQNNTSVKOTPSFROHTGNUS
,RMUNRVMUVSQNNTVMUVOJUMTSVAJUVIJUMUVKOTPSFROHTOSUVUPVLTHQNNT
QPLNQPTPMRVUNVOUSITNMRV;TLQTVTKO<SVBVNUETPKTPMRVUNVOUIRSTIQ0SD
9EQKTPVAJUVUNVIORFUSQRPTNVKUPCTVAJUVOUTNQ@TOVKOTPSFUOUPLQTSVMUVNT
IUOSRPTVMUIUPMQUPKUVITOTVKOTPSIROKTONTD
:TV7OUEUPLQ
PVMUVITLQUPKUSVBVLTOCTSVITOTV*469V 5%#
PVMUVUPFUOHRS
?E6E?M CK>KGBIJM@KCM%HKLMJLGFBLHFL
!LG@K8LML<FCFLH
&USLOQILQ
P8V
"TPMU=TVOUCJNTGNUVITOTVAJUVUNVKOTGT=TMROVIJUMTVTLUOLTOSUVUNVHT>
KUOQTNVPULUSTOQRVUPVJPTVLJOTD
UPKT=TS8V
,U=ROTVNTSVIRSKJOTSVMUVKOTGT=RVUPVNTVTKUPLQ
PVTVJSJTOQRS?VUEQKTPMR
NRSVCQORSVMUVKORPLRVBVLJUNNRD
4RPFQCJOTLQ
PVBVIOUSKTLQRPUSVOULRHUPMTMTS8
✓ 1JUMTSVLRPVFOUPRD
✓ "TSUVMUV!VRV VITKTSD
✓ 1UCJNTLQ
PVUPVTNKJOT
✓ "TPMU=TVLRPVGROMUVUNUETMR?VITOTVUEQKTOVAJUVSUVLTQCTVUNVHTKUOQTN
AJUVSUVLRNRAJUVUPVNTVGTPMU=TDVV
C<>FGLDF:GM@KMLAI1I
&USLOQILQ
P8V
:<HITOTSVMUVU+INROTLQ
PV/LRPVRVSQPVNJIT-D
UPKT=TS8V
,U=ROTPVNTSVLRPMQLQRPUSVMUVQNJHQPTLQ
PVMUVNTVKTOUT?VFTEROULQUPMR
UNV MUSLTPSRV RLJNTO?V HU=ROTPMRV NTV IUOLUILQ
PV MUV NRSV MUKTNNUSV BV OUMJ>
LQUPMRVNTSVIRSKJOTSVFRO@TMTSV/USIULQTNHUPKUVMUVKORPLRVBVLJUNNR-D
4RPFQCJOTLQ
3V1JUMTSVITOTVFTLQNQKTOVUNVKOTPSIROKUDV.UVOULRHQUPMTVJPTVGTSUVLRP
VOJUMTSD
5%5 :TV7OUEUPLQ
PVMUVUPFUOHRS
3V.QSKUHTVMUVOUCJNTLQ
PVUPVTNKJOTD
3VTLQNQMTMVMUVROQUPKTLQ
PVMUVNTVN<HITOTDV:TVN<HITOTV;TVMUVIRMUOSU
ROQUPKTOVF<LQNHUPKUVUPVKRMRSVNRSVINTPRSDV9SKRVSUVLRPSQCJUVKTPKR
LRPVNTVROQUPKTLQ
PVMUNVFRLRVLRHRVMUNVGOT@RVAJUVNRVSRSKQUPUDV
3V:JITD
3V:UPKUV MUV UPFRAJUV ETOQTGNUV AJUV IUOHQKTV T=JSKTOV UNV KTHT(RV MUN
LTHIRVTVU+THQPTODV
4JFKGBIMMBL5<HKBK
&USLOQILQ
P8V
6SQUPKRVQPMQLTMRVITOTVKOTKTOVTNVJSJTOQRVUPVNTVLTHQNNTD
UPKT=TS8
1UMJLUPVNTVFNU+Q
PVMUVUSITNMTVBVMUVGOT@RSVBVHU=ROTPVNTVIUOLUILQ
P
MUVNTVKTOUTD
4RPFQCJOTLQ
3V6SQUPKRVOUMRPMRVTLRNL;TMRD
3V"TSUVLRPV VOJUMTSD
3V1UCJNTGNUVUPVTNKJOTVHUMQTPKUVIQSK
PVMUVCTSD
3V1USITNMRV/RILQRPTN?VSRNRVSQVUNVKTGJOUKUVETVTVJSTOSUVLRPVHJL;TVFOU>
LJUPLQT-D
?E6E6M <FAIJMALHLMCLM>LGFA<CLDF:GM1MBHLGJAIHBKM@KMDLH.L
9NVKOTPSIROKUVMUVLTOCTSVUSVHJBVFOULJUPKUVUPVNRSVLUPKORSVSTPQKTOQRS
BVUNVIUSRVBVERNJHUPVMUVNRSVRG=UKRSVKOTPSIROKTMRSVIJUMUVSUOVHJBVETOQR>
IQPKRV/GTPMU=TSVMUVLRHQMT?VORIT?VLTHTS?VHRGQNQTOQR?VUKLD-D
7TOTVOUTNQ@TOVUNVKOTPSIROKUVMUVLTOCTSVSUVOULRHQUPMTVJSTOVTBJMTS
MUVKOTPSIROKU?VUEQKTPMRVSQUHIOUVAJUVSUTVIRSQGNUVNTVHTPQIJNTLQ
PVBVUN
KOTPSIROKUVHTPJTNUSDV
:TV7OUEUPLQ
PVMUVITLQUPKUSVBVLTOCTSVITOTV*469V 5%$
PVMUVUPFUOHRS
0LHHKBFCCLJM>LG<LCKJ
4TOORVIUAJU(RVMUVHTPR?VCUPUOTNHUPKUVMUVMRSVOJUMTS?VLRPVJPTVIU>
AJU(TVINTKTFROHTVITOTVLRNRLTOVNTVLTOCTVBVKOTPSIROKTONTVSQPVMQFQLJNKTMD
9+QSKUPVTNCJPRSVHRMUNRSVAJUVIUOHQKUPVMUSINT@TOSUVIROVUSLTNUOTSD
.RPV2KQNUSVITOTVKOTPSIROKTOVLT=TS?VRG=UKRSVTIQNTGNUS?VSTLRS?VUKLD
0LHHIJMDIGM5LG@K8LJ
4TOORSVLRPVGTPMU=TSVAJUVSRPV2KQNUSVITOTVKOTPSIROKTOVHTKUOQTNVET>
OQTMRVAJUVPRVIJUMUVTIQNTOSUVTVCOTPMUSVTNKJOTSV/IROVU=UHINRVGTPMU=TS
MUVLRHQMT?VHUMQLTHUPKRS?V;UOOTHQUPKTS?VUKLD-D
9SVQHIROKTPKUVAJUVNTSVGTPMU=TSVIJUMTPVLRNRLTOSUVTVMQSKQPKTSVTNKJ>
OTSVBVU+KOTUOSUVLRHINUKTHUPKUD
KOTVRILQ
PVOULRHUPMTGNUVUSVAJUVNTSVGTPMU=TSVIJUMTPVQPLNQPTOSU
ITOTVFTLQNQKTOVUNVTLLUSRVTNVHTKUOQTND
/FJAIJFBF9IJMALHLM>I9KHM><K5CKJM1MI58KBIJMAKJL@IJ
.UVKOTKTVMUVUNUHUPKRSVAJUVIUOHQKUPVHREUOVRG=UKRSVUSK<KQLRSVSQP
OUAJUOQOVUSFJUO@RVIROVITOKUVMUNVKOTGT=TMRODV.RPVUSIULQTNHUPKUV2KQNUS
ITOTVKOTPSIROKTOVSQNNTS?VHUSTSVBVRKORVHRGQNQTOQRDV
/FJAIJFBF9IJMALHLM>I9KHMDL>LJM1MIBHIJMI58KBIJMDIGMH<K@LJ
.UV KOTKTV MUV UNUHUPKRSV AJUV IUOHQKUPV HREUOV RG=UKRSV LRPV OJUMTS
COTPMUSVBVIUSTMRSV/LRHRVLTHTSVRVLTOORS-VSQPVOUAJUOQOVUSFJUO@RVIRO
ITOKUVMUNVKOTGT=TMRODV
0LHHIJM@KMBHLGJAIHBKMDIGM5LJKM@KM3<KCCK
9SKRSVLTOORSVIUOHQKUPVJPVHU=ROVTLLUSRVTVNTVLTOCTVTNVUNUETOSUVUN
FRPMRVMUNVHQSHRVUPVFJPLQ
PVMUNVIUSRD
,QPQHQ@TPVNTSVIRSKJOTSVFRO@TMTS?VBTVAJUVUNVHTKUOQTNVSUVLRCUVSQUH>
IOUVMUSMUVNTVHQSHTVTNKJOTD
+L>ALJ
6BJMTPVTVSTNETOVMUSPQEUNUSVBVRGSK<LJNRSVLJTPMRVSUVKOTPSIROKTPVLT>
OORS?VSQNNTSVMUVOJUMTS?VLTHTS?VUKLDV
5%! :TV7OUEUPLQ
PVMUVUPFUOHRS
6NCJPRSVKQIRSVMUVOTHITS
+L>ALJM3F8LJ
1THITSVAJUVLJGOUPVNRSVUSLTNRPUS?VMUSPQEUNUSVBVUSKOJLKJOTSVTOAJQ>
KULK
PQLTSDV9EQKTVAJUVUNVIORFUSQRPTNVKUPCTVAJUVSTNETOVIUAJU(RSVMUSPQ>
EUNUSVLRPVNTVSQNNTVMUVOJUMTS?VLTOORSVRVLTHQNNTSD
+L>ALJMAIHB%BFCKJ
1THITSVKUNUSL
IQLTSVMQSU(TMTSVITOTVSTNETOVMUSPQEUNUSVBVRGSK<LJNRS
LJTPMRVSUVKOTPSIROKTPVSQNNTSVMUVOJUMTS?VLTHQNNTS?VUKLDV.RPVINUCTGNUSVB
IJUMUPVHRPKTOSU?VMUSHRPKTOSUVBVKOTPSIROKTOSUVF<LQNHUPKUDV9EQKTPVAJU
UNVIORFUSQRPTNVKUPCTVAJUVTSLUPMUOVBVMUSLUPMUOVTVIUOSRPTSVSUPKTMTSVUP
SQNNTSVMUVOJUMTSD
+L>ALJMA<KGBK
1THITSVUPVFROHTVMUVLJ(TVAJUVIUOHQKUPV;TLUOVMUVLJ(TVBVTS VSTNETO
IUAJU(RSVRGSK<LJNRSVMUVGT=TVTNKJOTD
9EQKTVAJUVUNVIORFUSQRPTNVKUPCTVAJUVSTNETOVIUAJU(RSVMUSPQEUNUSVLRP
NTVSQNNTVMUVOJUMTS?VLTOORSVRVLTHQNNTSD
?E6E=M4DDKJIHFIJMALHLM>K8IHLHMKCMLCDLGDKM1MCLJMAIJB<HLJ
JDLC:GMAIHB%BFC
9SLTN
PVRVHQPQ>USLTNUOTDV7JUMUVSUOVMUVJPTVIQU@TVRVINUCTGNUDV6NCJ>
PRSVHRMUNRSVQPLNJBUPVOJUMTSVOUKO<LKQNUSVITOTVFTLQNQKTOVSJVKOTPSIROKUD
,U=ROTPVUNVTNLTPLUVBVNTVIRSKJOTVMUVNRSVGOT@RSVLJTPMRV;TBVAJUVKOT>
GT=TOVUPV@RPTSVIROVUPLQHTVMUVNTVTNKJOTVMUVNRSV;RHGORSV/IROVU=UHINR8
TNLTPLUVTVTNKQNNRSVMUVTOHTOQRS?VNQHIQU@TVUPV@RPTSVUNUETMTS?VUKLD-D
CK9L@IHM@KMCL9L5I
.UVKOTKTVMUVIQU@TSV/AJUVIJUMUPVLRHIOTOSUVRV;TLUOSUVTVHUMQMT-
AJUVOUMJLUPVNTVIORFJPMQMTMVUFULKQETVMUVNRSVNTETGRSD
:TV7OUEUPLQ
PVMUVITLQUPKUSVBVLTOCTSVITOTV*469V 5%
PVMUVUPFUOHRS
9SKRVOUIUOLJKUVUPVJPTVHU=ROVIRSKJOTVMUVGOT@RS?VLJUNNRVBVKORPLR
LJTPMRVSUVOUTNQ@TPVKTOUTSVMUVFOUCTMRVRVNQHIQU@TD
KHHL>FKGBLJM>LG<LCKJMKH.IG:>FDLJ
:RSVIJPKRSVLNTEUVITOTVNTVSUNULLQ
PVMUVJPTV;UOOTHQUPKTVHTPJTNVSRP8
✓ ,TPCRSVMUVHTKUOQTNUSVFNU+QGNUS?VLRPVFROHTSVAJUVUEQKTPVIJPKRSVMU
IOUSQ
PVUPVNTSVHTPRSD
✓ ,ULTPQSHRSVMUVTJKR>TIUOKJOTVITOTVOUMJLQOVUNVUSFJUO@RD
✓ JTOMTSVITOTVRIKQHQ@TOVNTVFJUO@TV/BVUEQKTOVUNVMUSNQ@THQUPKRVMUVNRS
MUMRS-D
✓ OQUPKTLQ
PVMUNVHTPCRVUSIUL FQLTVTVNTVKTOUTVAJUVSUVETVTVOUTNQ@TOD
✓ 4TOORSVMUVKOTPSIROKUVLRPVGTSUVMUVFJUNNU
✓ 9SKRSVLTOORSVIUOHQKUPVJPVHU=ROVTLLUSRVTVNTVLTOCTVTNVUNUETOSUVUN
FRPMRVMUNVHQSHRVUPVFJPLQ
PVMUNVIUSRD
✓ ,QPQHQ@TPV NTSV IRSKJOTSV FRO@TMTS?V BTV AJUV UNV HTKUOQTNV SUV LRCU
SQUHIOUVMUSMUVNTVHQSHTVTNKJOTD
?E6E2M <FAIJMALHLMCLM>I9FCF)LDF:GMM@KMALDFKGBKJ
?E6E2E;ML5CLJM@KMBHLGJ3KHKGDFLJ
/KJDHFADF:G7M
)PTVKTGNTVMUVKOTPSFUOUPLQTVUSVJPVKTGNUORVO CQMRVRVSUHQ>FNU+QGNUVAJU
IJUMUVJSTOSUVITOTVHREUOVJSJTOQRSVMUSMUVJPTVSJIUOFQLQUVTVRKOTVAJUVUSK0
TVJPTVTNKJOTVSQHQNTODV
:TSV KTGNTSV MUV KOTPSFUOUPLQTV COTPMUSV SJUNUPV USKTOV FTGOQLTMTSV UP

IN<SKQLRVLRPVJPVNTMRVMUSNQ@TPKUVBVUNVRKORVTPKQMUSNQ@TPKUDV7UOHQKUPVKOTPS>
FUOQOVTNVJSJTOQRVKJHGTMRVUPKOUVSJIUOFQLQUSVMUVQCJTNVTNKJOTVRVMUSMUVJPT
SJIUOFQLQUVTVRKOTVH<SVGT=TDV6NCJPRSVHRMUNRSVIJUMUPVJSTOSUVLRP=JPKT>
HUPKUVLRPVS<GTPTSVMUSNQ@TPKUSVITOTVOUMJLQOVNTVFOQLLQ
PVUPKOUVUNVJSJTOQR
BVNTVKTGNTD
5% :TV7OUEUPLQ
PVMUVUPFUOHRS
-KGBL8LJ7M
✓ :TSVKTGNTSVMUVKOTPSFUOUPLQTVSRPVGTOTKTS?VF<LQNUSVMUVKOTPSIROKTOVB
OUNTKQETHUPKUVF<LQNUSVMUVJSTODV
✓ 9+QSKUPV PJHUORSRSV HRMUNRSV LRPV MQFUOUPKUSV IOUSKTLQRPUSDV 6SQ>

HQSHRV KTHGQ0PV IJUMUPV UPLRPKOTOSUV UPV JPTV COTPV ETOQUMTMV MU
KTHT(RSVTMULJTMRSVITOTVNTVKOTPSFUOUPLQTVUPKOUVMQEUOSTSVSJIUO>
FQLQUSVMUVJPTVHTPUOTVUSKTGNU
4JAKDBIJMLMDIGJF@KHLH
✓ .RPVTMULJTMTSVITOTVJSJTOQRSVAJUVLRPSUOETPVJPVGJUPVUAJQNQGOQR
SUPKTMRSVBVSRPVLRRIUOTKQERSDV*THGQ0PVIJUMUPVJSTOSUVLRPVJSJT>
OQRSV AJUV OUAJQUOUPV IRLTV TSQSKUPLQTV IUORV PULUSQKTPV TIRBRV B
SUCJOQMTMD
✓ 9SV QHIROKTPKUV AJUV U+QSKTV JPV P2HUORV SJFQLQUPKUV MUV UNNTS?V MU

HTPUOTVAJUVSUVFRHUPKUVSJVJSRVBVSUVUEQKUVUSKTOVKOTPSIROK<PMRNTS
MUVHTPUOTVLRPKQPJT
✓ RVSUVOULRHQUPMTVSJVJSRVUPKOUVSJIUOFQLQUSVMUVMUSQCJTNVTNKJOT?VBT
AJUV IJUMUPV OUSJNKTOV QPUSKTGNUSDV :TV IRSQGQNQMTMV MUV OUCJNTOV NT
TNKJOTVMUVNTSVSJIUOFQLQUSV/LTHT?VLTHQNNT?VSQNNT-VUSVNTVLRHGQPTLQ
P
TMULJTMTVTVJSTOV=JPKRVLRPVNTSVKTGNTSVMUVKOTPSFUOUPLQTD
✓ 6JPAJUVHJBVOUMJLQMR?VSQCJUVU+QSKQUPMRVOQUSCRVTSRLQTMRVTVNTVTINQ>
LTLQ
PVMUVFJUO@TVBVTNVHTPU=RVMUVLTOCTSD
✓ .UVOULRHQUPMTVAJUVUNVIORLUSRVMUVKOTPSFUOUPLQTVSUV;TCTVIROVH<S
MUVJPVLJQMTMROD
✓ 9SVOULRHUPMTGNUVAJUVUNVJSJTOQRVKUPCTVORITVIJUSKTVITOTVFTLQNQKTO
UNVMUSNQ@THQUPKRDV.QVPRVUSVTS ?VNTVKTGNTVMUVKOTPSFUOUPLQTVMUGUO T
:TV7OUEUPLQ
PVMUVUPFUOHRS
JSTOSUV=JPKRVLRPVJPVOULJGOQHQUPKRVMUVKUNTVRVJPTVS<GTPTVMUSNQ>
@TPKUD
✓ 6NVTMAJQOQONTSV;TBVAJUVTSUCJOTOSUVAJUVNTSVUSAJQPTSVUSK<PVOUMRP>
MUTMTSVBVNRSVGROMUSVPRVSRPVLROKTPKUSD
✓ .QVNTVKOTPSFUOUPLQTVSUV;TLUVTVJPVUNUHUPKRVH
EQNV/LTHQNNTVRVSQNNT
MUVOJUMTS-V;TBVAJUVTSUCJOTOSUVMUVAJUVUSK<PVFOUPTMRSDVVV
4C.<GIJMBFAIJM@KMBL5CLJM
L5CLJM@KMBHLGJ3KHKGDFLJMDIGM><KJDLJ
6NCJPRSVHRMUNRSVMQSIRPUPVMUVHJUSLTSVRV;JULRSVMUVHTPUOTVAJUVNT
KTGNTVIJUMTVFQ=TOSUVUPVUNVTIRBTGOT@RSVMUVNTVSQNNTVMUVOJUMTSD
L5CLM@KMJ<AKH3FDFKM@KJCF)LGBK
:TVKTGNTVUSK<VORMUTMTVMUVJPTVSJIUOFQLQUVMUSNQ@TPKUV/AJUVFJPLQRPT
LRHRVJPTVLQPKTVKOTPSIROKTMROT-
L5CLJM@KMBHLGJ3KHKGDFLMDIGM@FJDI
*TGNTVMRKTMTVMUVJPVOT NVAJUVIUOHQKUVUNVMUSINT@THQUPKRVTVNRVNTOCR
MUVNTVKTGNTVBVJPVTSQUPKRVLQOLJNTOVAJUVIRSQGQNQKTVNTVOUTNQ@TLQ
PVMUVCQORSVMU
$%DV7UOHQKUVAJUVUNVIORFUSQRPTNVKOTPSFQUOTVTNVITLQUPKUVMUIUPMQUPKUVMU
JPTVSJIUOFQLQUVTVRKOTVHQPQHQ@TPMRVUNVUSFJUO@RD
5% :TV7OUEUPLQ
PVMUVUPFUOHRS
?E6E2E?M/FJDIJM@KMBHLGJ3KHKGDFLJ
/KJDHFADF:G7M
.JIUOFQLQUVUPVFROHTVMUVINTKRVCQOTKROQRVAJUVUEQKTVAJUVUNVIORFUSQRPTN
KUPCTVAJUVOUTNQ@TOVHREQHQUPKRSVMUVCQORDV.UVLRNRLTPVSRGOUVUNVSJUNR?VMU>
GT=RVMUVNRSVIQUSVMUVNTVIUOSRPTVMUIUPMQUPKUVBVIUOHQKUPVCQOTONTVSRGOUVUN
MQSLRV$%
-KGBL8LJ7M
✓ 9NVLRSKUVUSVHJBVOUMJLQMRD
✓ 6BJMTPVTVUEQKTOVNRSVCQORSVMUVKORPLRVBVOUMJLUPVNTVFJUO@TVPULUSTOQT
LJTPMRV SUV KQUPUV AJUV OU>ROQUPKTOV NTV IRSQLQ
PV MUNV JSJTOQRV /IRO
U=UHINRVMUVNTVLTHTVTVNTVSQNNTVRVEQLUEUOST-D
✓ 'TPVMUVJSTOSUVLRP=JPKTHUPKUVLRPVRKOTSVTBJMTS?VBTVAJUVPRVUEQKTP
NTVHREQNQ@TLQ
PVIOUEQTVTVAJUVUNVJSJTOQRVTIRBUVNRSVIQUSVUPVUNVMQSLRD
✓ 9NVJSJTOQRV;TVMUVKUPUOVNTVLTITLQMTMVMUVHTPKUPUOSUVMUVIQUV/TJP>
AJUVSUTVLRPVTBJMT-
✓ 9+QSKUPVMQSLRSVMUVHJBVMQSKQPKRVKTHT(R?VIROVNRVAJUV;TBVAJUVLRH>
IORGTOVAJUVNRSVAJUVSUVTMAJQUOTPVSRPVSJFQLQUPKUHUPKUVCOTPMUS
ITOTVNRSVIQUSVMUNVJSJTOQRD
✓ :TVTNKJOTVMUVNRSVMQSLRSVKTHGQ0PVUSVETOQTMTDV:RSVMQSLRSVCOTPMUS
IJUMUPV ERNLTOV SQV UNV IUSRV MUNV JSJTOQRV PRV USK<V MQSKOQGJQMRV MU
HTPUOTVJPQFROHUDV.QPVUHGTOCRVNRSVMQSLRSVTNKRSVSRPVH<SVF<LQNUS
MUVOULRCUOV/TJPAJUVKTHGQ0PVU+QSKUPVHRMUNRSVLRPVTSQMUORSVAJU
FTLQNQKTPVSJVLRNRLTLQ
PVBVKOTPSIROKU-
:TV7OUEUPLQ
PVMUVUPFUOHRS
:RSVMQSLRSVETO TPVUPVIUSR8VNRSVMUVHTBROVIUSRVIJUMUPVSUOVH<SVSU>
CJORSVBVUSKTGNUSVIUORVH<SVMQF LQNUSVMUVOULRCUOVBVKOTPSIROKTODV7ROVUNNRV;T
MUVKUPUOSUVUPVLJUPKTVNTVFOULJUPLQTVMUVJSRD
9SVPULUSTOQRVOUEQSTOVIUOQ
MQLTHUPKUVNTVSJTEQMTMVMUVCQORVMUVNRSVMQS>
LRSVBVLRHIORGTOVAJUVNTVSJIUOFQLQUVMUVTIRBRVSQCJUVSQUPMRVTPKQMUSNQ@TPKUD
:TVNQHIQU@TVIUOQ
MQLTVKTHGQ0PVUSVOULRHUPMTGNUD
?E6E2E6M0FGB<HIGKJM@KMBHLGJ3KHKGDFLJM1MLHGKJKJ
/KJDHFADF:G7M
.UVKOTKTVMUVLTGUSKOQNNRSVMUVKUNTVTLRNL;TMTV/JVRKORVHTKUOQTNVSQHQNTO-
LRPVTSQMUORSVITOTVNTSVHTPRSDV.UVLRNRLTPVUPVNTVLQPKJOTVRVUPVNTV@RPTVNJH>
GTOVMUNVJSJTOQRDV9PVFJPLQ
PVMUNVHRMUNRVIJUMUPVKUPUOVMQFUOUPKUSVJSRS8
✓ 6BJMTOVUPVNTVHREQNQ@TLQ
PVMUNVJSJTOQRVUPKOUVMRSVSJIUOFQLQUSV/IRO
U=UHINRVMUVNTVSQNNTVMUVOJUMTSVTNVQPRMROR-D
✓ 6BJMTOVUPVNTVMUTHGJNTLQ
PVMUNVJSJTOQRV/SQOEUPVMUVSRIROKU-D
✓ 1ULRNRLTOVTVJPVJSJTOQRVSRGOUVJPTVSJIUOFQLQUD
-KGBL8LJ7M
✓ 4RSKUVOUMJLQMRD
✓ RVIUSTPVBVIJUMUPVINUCTOSU?VLRPVNRVAJUVIJUMUPVKOTPSIROKTOSU
LRPVFTLQNQMTMVTMRPMUVSUVPULUSQKUPD
✓ 1UMJLUPVNTVFJUO@TVPULUSTOQTVITOTVHREUOVTVJPVJSJTOQRVBVHU=ROTP
NTVIRSKJOTVTNVIORIROLQRPTOVJPVIJPKRVMUVTIRBRVH<SVLUOLTPRVTN
LUPKORVMUVCOTEUMTMVMUNVKOTGT=TMROD
5#% :TV7OUEUPLQ
PVMUVUPFUOHRS
'TPVMUVJSTOSUVKUPQUPMRVUPVLJUPKTVJPTVSUOQUVMUVIOULTJLQRPUS8V
✓ RV;TPVMUVJSTOSUVITOTVOUTNQ@TOVNUETPKTHQUPKRSDV
✓ RVSRPVTIORIQTMRSVITOTVMUTHGJNTLQRPUSVMUVJSJTOQRSVLRPVIUSR
UNUETMR?VAJUVPRVIJUMTPVHTPKUPUOSUVMUVIQUVIROVSQVHQSHRSVRVAJU
PRVLRRIUOUPD
✓ .UVOULRHQUPMTVSUNULLQRPTOVLQPKJORPUSVRVTOPUSUSVLRPVGJUPRSVTCT>
OOUSV/THINQRSVBVTLRNL;TMRS-D
✓ .QVSUVLRNRLTPVHJBVTIOUKTMRSVIJUMUPV;TLUOVAJUVUNVKOTGT=TMROVCRN>
IUUVLRPVNRSVPJMQNNRSVTNVJSJTOQRD
✓ RV;TPVMUVJSTOSUVLRPVJSJTOQRVAJUVKUPCTPVNUSQRPUSVUPVNTV@RPT
NJHGTOVRVTGMRHQPTND
✓ 4JTPMRVSUVJSUP?VNRSVLQPKJORPUSV;TPVMUVLRNRLTOSUVSRGOUVNTVORIT?
PJPLTVMQOULKTHUPKUVSRGOUVNTVIQUND
?E6E2E=M,%5LGLJMKJBKHLJM@KMBHLGJ3KHKGDFLM
IMHKAIJFDFIGL>FKGBI
/KJDHFADF:G7M
.UVKOTKTVMUVMQSIRSQKQERSV/S<GTPTS?VUSKUOTSVRVSQHQNTO-VAJUVOUMJLUP
NTVFJUO@TVMUVFOQLLQ
PVLJTPMRV;TBVAJUVCQOTO?VMUSINT@TOVRVKOTPSFUOQOVTVJP
JSJTOQRVUPVIRSQLQ
PVKJHGTMTV/IROVU=UHINRVMUSMUVNTVLTHTVTVNTVLTHQNNTVR
EQLUEUOST-DV6NCJPRSVHRMUNRSVMQSIRPUPVMUVTSQMUORSVITOTVFTLQNQKTOVUNVTCT>
OOUV MUNV KOTGT=TMROV BV ITOTV OUMJLQOV NRSV TNLTPLUSV ;ROQ@RPKTNUSDV .JUNUP
JSTOSUVUPVLRHGQPTLQ
PVLRPVRKOTSVTBJMTSVLRHRVKTGNTSVMUVKOTPSFUOUPLQT?
LRGUOKROUSVMUVLRNL;
PVMUVGT=TVFOQLLQ
P?VUKLD
-KGBL8LJ7M
✓ 4RSKUVOUMJLQMRD
✓ <LQNUSVMUVJSTOD
✓ :TVHTBRO TVSRPVINUCTGNUSVBVF<LQNUSVMUVKOTPSIROKTOVBVTNHTLUPTOD
:TV7OUEUPLQ
PVMUVITLQUPKUSVBVLTOCTSVITOTV*469V 5##
PVMUVUPFUOHRS
■ 9NVJSRVOULRHUPMTMRVUSVITOTVKOTPSFUOUPLQTSVMUVIUOSRPTSVAJUVPR
IJUMUPVHTPKUPUOSUVMUVIQUV/KRKTNVRVITOLQTNHUPKU-VUPKOUVMRSVSJ>
IUOFQLQUSV;ROQ@RPKTNUSVTMBTLUPKUSDVRVSUVOULRHQUPMTVSJVJSRVUP
JSJTOQRSVLRPVIUSRVUNUETMRD
■ 7TOTVJSTOVUSKTVTBJMTVUSVPULUSTOQTVNTVITOKQLQITLQ
PVMUVMRSVKOTGT>
=TMROUSDV7JUMUVOUAJUOQOSUVTSQSKUPLQTVTMQLQRPTNVUPVFJPLQ
PVMUVNTS
LTOTLKUO SKQLTSVMUNVOUSQMUPKUD
■ 9NVJSRVMUVS<GTPTSVMUVKOTPSFUOUPLQTVPRVUNQHQPTVNTVFJUO@TV/IJUMUVT2P
U+QSKQOVOQUSCRVUOCRP
HQLR-?VSQVGQUPVNTVOUMJLUVLRPSQMUOTGNUHUPKUD
■ .UVOULRHQUPMTVJSTONTSVUPVLRHGQPTLQ
PVLRPVRKOTSVTBJMTSVAJUVOU>
MJ@LTPVNTVFOQLLQ
PVUPKOUVNTVS<GTPTVBVNTVLTHTVRVLTHQNNTD
■ 9SVHJBVOULRHUPMTGNUVAJUVUSKTSVTBJMTSVMQSIRPCTPVMUVTSQMUORS
TMULJTMRS
■ 9SVPULUSTOQRVTSUCJOTOSUVAJUVNTSVMRSVSJIUOFQLQUSVUSK<PVTVNTVHQSHT
TNKJOTV/NTVSJIUOFQLQUVMUVMUSKQPRVIJUMUVUSKTOVNQCUOTHUPKUVH<SVGT=T-D
?E6E2E2M,FCCLJM@KMH<K@LJ
/KJDHFADF:G7M
9SKRSVMQSIRSQKQERSVUSK<PVIUPSTMRSVITOTVIUOHQKQOVUNVMUSINT@THQUPKR
MUVNTSVIUOSRPTSD
.JSVLTOTLKUO SKQLTSVMUGUPVSUOVNTSVSQCJQUPKUS8
✓ &QSIRPUOVMUVSQSKUHTVMUVINUCTMRVBVMUSINUCTMRD
✓ 9SKTOVMRKTMTSVMUV!VOJUMTSVLRPVSQSKUHTVMUVFOUPTMRVMUVUSKTLQRPT>
HQUPKRD
5#5 :TV7OUEUPLQ
PVMUVUPFUOHRS
✓ &QSIRPUOVMUVOUIRSTIQ0SVINUCTGNUSVBVU+KOT GNUSVITOTVFTLQNQKTOVNTS
RIUOTLQRPUSVMUVHREQNQ@TLQ
PVBVKOTPSFUOUPLQTD
✓ &QSIRPUOVMUVGTOOTSVMUVQPLNQPTLQ
PVITOTVSJGQOVNTSVOJUMTSVMUNTPKUOTSD
✓ &QSIRPUOVMUVHTPCRSVMUVUHIJ=UVUOCRP
HQLRSD
-KGBL8LJ7M
✓ 6MULJTOSUVTNVJSRVBVTVNTVTLKQEQMTMVITOTVNTVAJUVETVTVSUOVJKQNQ@TMTV/TJKR>
IORIJNSTMTVRVUHIJ=TMTVMUVQPKUOQROVRVUPVUSITLQRSVTGQUOKRS?VUKL-D
✓ 7UOHQKQOVUNVKOTPSIROKUVMUVNTVIUOSRPTVMUIUPMQUPKUVSQPVUSFJUO@RD
✓ TLQNQKTOV NTV HREQNQ@TLQ

PV BV KOTPSFUOUPLQTV MUV NTV IUOSRPTV MUIUP>
MQUPKUV/MUVSQNNTVTVLTHT?VMUVSQNNTVTVQPRMROR?VMUVSQNNTVTVSQNNT?VUKLD-
✓ 6SIULKRSVTVLRPSQMUOTO
✓ 6MULJTOSUVTVNTVKTNNTVBVMQHUPSQRPUSVMUVNTVIUOSRPTVMUIUPMQUPKUD
✓ 6MTIKTOSUVTVNTVSQKJTLQ
PVLN PQLTVMUNVJSJTOQRD
FAIJM@KMJFCCLJM@KMH<K@LJ
■ .QNNTSVHTPJTNUS
✘ HIJNSTMTSVIROVJPVTLRHIT(TPKUD
✘ "QHTPJTNUSVQHIJNSTMTSVIROVNTSVOJUMTSVKOTSUOTSD
✘ "QHTPJTNUSVQHIJNSTMTSVIROVNTSVOJUMTSVMUNTPKUOTSD
✘ "QHTPJTNUSVQHIJNSTMTSVIROVHUMQRVMUVITNTPLTSD
✘ ,TPJTNUSVMUVLRPMJLLQ
PVHRPRNTKUOTND
✘ ,TPU=TMTSVIROVJPVIQUD
■ .QNNTSVUN0LKOQLTS
✘ 4RPVHRKROVBVHTPU=TMTSVIROVJPVTLRHIT(TPKUD
✘ 4RPVHRKROVBVMQOULLQ
PVHTPJTND
:TV7OUEUPLQ
PVMUVITLQUPKUSVBVLTOCTSVITOTV*469V 5#$
PVMUVUPFUOHRS
✘ 4RPVHRKROVBVMQOULLQ
PVTSQSKQMTD
✘ 4RPVHRKROVMUVLRHGJSKQ
P
?E6E2E*M#H'LJM@KMBHLGJ3KHKGDFLJ
/KJDHFADF:G
)PTVCO2TVUSVJPTVTBJMTVK0LPQLTVAJUVIUOHQKUVOUTNQ@TOVNTSVKOTPSFUOUP>
LQTSVMUVFROHTVH<SVSUCJOTVBVL
HRMTVITOTVNTSVIUOSRPTSVMUIUPMQUPKUSVB
LRPVHUPRSVUSFJUO@RVITOTVUNVKOTGT=TMROVAJUVNTSVKOTPSFUOUPLQTSV;UL;TS
MUVFROHTVHTPJTNDV
:TSVTINQLTLQRPUSVH<SVFOULJUPKUSVMUVNTSVCO2TSVSRP8V
✓ 1UTNQ@TOV KRMRV KQIRV MUV KOTPSFUOUPLQTS8V SQNNTV MUV OJUMTS?V LTHT?

QPRMROR?VMJL;T?VGT(UOT?VUKLDV
✓ 1UTNQ@TOVKOTSNTMRSV/IROVU=UHINRVMUNVMROHQKROQRVTNVLJTOKRVMUVGT(R-D
✓ 9NUETOVTNVJSJTOQRVMUSMUVUNVSJUNRDV
✓ )SRVLRP=JPKRVLRPVRKOTSVTBJMTSVK0LPQLTSV/IROVU=UHINRVSQNNTSVMUVMJL;T-
-KGBL8LJ7M
:TSVCO2TSVSRPVSUCJOTSVBVL
HRMTS?VMQSHQPJBUPVNTVIRSQGQNQMTMVMU
LT MTVMUNVJSJTOQR?VUEQKTPVTMRIKTOVHTNTSVIRSKJOTSVTNVSUOVKOTSNTMTMRVBVOU>
MJLUPVLRPSQMUOTGNUHUPKUVUNVOQUSCRVMUVNUSQRPUSVMUVUSITNMTVUPVNRSVKOTGT>
=TMROUSD
7TOTVLJTNAJQUOVKOTPSFUOUPLQTVRVHREQNQ@TLQ
PVAJUVQHINQAJUVJPVNUETP>
KTHQUPKRVSUVOULRHQUPMTVUNVJSRVMUVJPTVCO2TD
5#! :TV7OUEUPLQ
PVMUVUPFUOHRS
6NCJPTSVIUOSRPTSVSRPVOUKQLUPKUSVTNVJSRVMUVNTSVCO2TSVBVIOUFQUOUP
;TLUOVNTSVKOTPSFUOUPLQTSVIROVRKORSVHUMQRS?VSQPVUHGTOCR?VNTSVLTJSTSVMU
OUL;T@RVPRVUSK<PV=JSKQFQLTMTS8V
✓ 9NVTOP0SVTOORITVTVNTVIUOSRPTVTINQLTPMRVNTSVFJUO@TSVMUVHTPUOT
JPQFROHU?VIROVUNVLRPKOTOQRVUPVNTSVKOTPSFUOUPLQTSVTVHTPRVUSKTS
FJUO@TSVSRPVHJL;RVHTBROUSVBVIJUMUPVIORMJLQOVQPLRHRMQMTMVB
MRNRODV
✓ :TSVCO2TSVPRVSRPVNUPKTS8VTJPAJUVSUVJKQNQ@TVTNCRVH<SVKQUHIRVUP
;TLUOVNTSVKOTPSFUOUPLQTS?VS
NRVUSVPULUSTOQRVJPTVIUOSRPTVUPVNJCTO
MUVETOQTSVLRHRVRLJOOUVUPVNTSVKOTPSFUOUPLQTSVMUVFROHTVHTPJTND
6MUH<S?VNTVIO<LKQLTVUPVUNVJSRVLRPKQPJTMRVMUVCO2TSVOUMJLUVLRP>
SQMUOTGNUHUPKUVUNVKQUHIRVMUVKOTPSFUOUPLQT
✓ :TSVKOTPSFUOUPLQTSVLRPVCO2TVIUOHQKUPVTNVKOTGT=TMROVIOUSKTOVH<S
TKUPLQ
PVTNVJSJTOQRVTNVPRVUSKTOVRLJITMRV;TLQUPMRVJPVUSFJUO@RDV
✓ :TSVCO2TSVSRPVF<LQNUSVMUVJSTO?VNTSVKOTPSFUOUPLQTSVLRPVNTSVCO2TS
PULUSQKTPVHUPRSVIOULQSQ
PVBVUPKOUPTHQUPKRVAJUVNTSVKOTPSFUOUP>
LQTSVHTPJTNUSDV
✓ :TVTLUIKTLQ
PVMUVNTVCO2TVMUIUPMUVMUNVKOTGT=TMRO?VUNVLJTNVMUGU
KOTPSHQKQOVSUCJOQMTMVBVLRPFQTP@TVTNVJSJTOQRDV
6PKUSVMUVTMAJQOQOVJPTVCO2TVUSVPULUSTOQRVKUPUOVUPVLJUPKTVJPTVSUOQU
MUVLOQKUOQRSVRVTSIULKRSVOUNTLQRPTMRSVLRPVNTSVIUOSRPTSVAJUVETPVTVJKQNQ@TO
NTVCO2T?VUNVNJCTOVMRPMUVSUVETVTVJKQNQ@TOVBVITOTVAJ0VSUVETVTVJKQNQ@TODV6VLRP>
KQPJTLQ
PVSUVOUSJHUPVTNCJPRSVLOQKUOQRSVAJUVPRV;TBVAJUVRNEQMTO8V
✓ 6MULJTLQ
PVTNVJSJTOQR8V:TVCO2TVBVUNVTOP0SVMUGUPVSUOVTMULJTMRS
TNVIUSR?VNTSVMQHUPSQRPUSVBVNTSVLTOTLKUO SKQLTSVIUOSRPTNUSDV
✓ 6MULJTLQ
PVTNVJSR8V:TVCO2TVMUGUVUSKTOVIOUITOTMTVITOTVOUTNQ@TO
KRMTSVNTSVKOTPSFUOUPLQTSVBVKOTSNTMRSVAJUVSUTPVPULUSTOQRSVMUVNT
FROHTVH<SVL
HRMTVBVSUPLQNNTVITOTVUNVJSJTOQRVBVUNVKOTGT=TMROD
✓ 6MULJTLQ
PVTNVUPKROPR8V9SVPULUSTOQRVTPTNQ@TOVUNVNJCTOVMRPMUVSU
ETVJKQNQ@TOVNTVCO2TVITOTVLRHIORGTOVAJUV0SKTVIJUMUVFJPLQRPTOVMU
FROHTVLROOULKTVUPVKRMTSVNTSVSQKJTLQRPUSVIOUEQSKTSDV'TBVAJUVLRP>
SQMUOTO?VIROVU=UHINR?VNTSVMQHUPSQRPUSVMUVNTSV;TGQKTLQRPUSVMRPMU
:TV7OUEUPLQ
PVMUVITLQUPKUSVBVLTOCTSVITOTV*469V 5#
PVMUVUPFUOHRS
SUVETPVTVJKQNQ@TOVNTSVCO2TSVH
EQNUSVRVNTVOUSQSKUPLQTVMUVNTVUSKOJL>
KJOTVMUVNTVEQEQUPMTVUPVCO2TSVMUVITOUMVBVKUL;RDV
✓ 4RPFROK8V9NVTOP0SVKQUPUVAJUVSUOVL
HRMRVITOTVUNVJSJTOQRVBVPRVLNT>
ETOSUVUPVNTSVT+QNTSVPQVUPVNRSVHJSNRSDV&UGUVSUOVF<LQNVBVO<IQMRVMU
LRNRLTODV*RMRSVNRSVLRPKORNUSVITOTVUNUETOVRVGT=TOVTVNTVIUOSRPTVUNU>
ETMTVMUGUPVSUOVF<LQNHUPKUVTLLUSQGNUSVBVHTPU=TGNUSDV
✓ &JOTGQNQMTM8V&UGUPVKUPUOVJPTVEQMTV2KQNVH PQHTVMUVKOUSVTVLJTKOR
T(RSVSQPVMUKUOQROTOSUVPQPCJPRVMUVSJSVLRHIRPUPKUS?VSQUHIOUVAJU
SUVOUTNQLUVJPVLROOULKRVHTPKUPQHQUPKRDV
✓ 9SKTGQNQMTM8V :TV CO2TV ;TV MUV SUOV USKTGNUV TNV EJUNLRV UPV KRMTSV NTS
MQOULLQRPUS?VKTPKRVLTOCTMTVLRHRVMUSLTOCTMTDV
✓ TLQNQMTMVMUVINUCTMRVBRVMUVMUSHRPKT=U8V&UGUPVSUOVINUCTGNUSVR
MUSHRPKTGNUSVSQPV;UOOTHQUPKTSVITOTVFTLQNQKTOVSJVTNHTLUPT=UVB
KOTPSIROKUDV
✓ TLQNQMTMVMUVNQHIQU@TVBVHTPKUPQHQUPKR8V9NVTOP0SV;TVMUVSUOVF<LQN>
HUPKUV NTETGNUV BV NTV CO2TV MUGUV MQSIRPUOV MUV JPV MQSU(RV AJUV PR
MQFQLJNKUVSJVNQHIQU@TDV9NVHTPKUPQHQUPKRVKQUPUVAJUVSUOVUNVH PQHR
IRSQGNUVBVMUGUPVU+QSKQOVQPSKOJLLQRPUSVLNTOTSVITOTVNNUETONRVTVLTGRD
9PVFJPLQ
PVMUNVKQIRVMUVHREQNQ@TLQ
PVAJUVSUVOUTNQLUVBVMUVNTVFOULJUPLQT
IJUMUVSUOVPULUSTOQRVUNUCQOVJPVHRMUNRVUSIUL FQLRVMUVCO2TDV:RSVKOUSVKQIRS
H<SV;TGQKJTNUSVSRPVNRSVSQCJQUPKUS8
✓ O2TSVH
EQNUSV/RVCO2TSVLRPVOJUMTS-
✓ O2TSVFQ=TSV
✓ O2TSVMUVKUL;R
?E6E*M#H'LJM>:9FCKJM IM.H'LJMDIGMH<K@LJ
/KJDHFADF:G
&QSIRPUPVMUVJPTVGTSUVLRPVOJUMTS?VNRVAJUVIUOHQKUVJSTONTSVUPVLJTN>
AJQUOVSQKQRVMRPMUV;TBTVUSITLQRVSJFQLQUPKUVITOTVNTVHTPQRGOTDV'TGQKJTN>
HUPKUVSRPVINUCTGNUSVRVMUSHRPKTGNUS?VNRVLJTNVFTLQNQKTVSJVTNHTLUPTHQUPKR
BVKOTPSIROKUDV&QSIRPUPVMUVFOUPRSVUPVNTSVOJUMTSVKOTSUOTSDV9SVPULUSTOQR
5# :TV7OUEUPLQ
PVMUVUPFUOHRS
MUSINT@TOVNTVCO2TVITOTVOUTNQ@TOVNTSVKOTPSFUOUPLQTS?VBTVAJU?VIROVHRKQERS
MUVUSKTGQNQMTM?VUNVGOT@RVMUVNTVCO2TVPRVIJUMUVCQOTOVOUSIULKRVMUVNTVGTSUD
9NVJSRVIOUEQSKRVUSVITOTVNUETPKTOVBVKOTPSFUOQOVJSJTOQRSVKRKTNHUPKU
MUIUPMQUPKUS?VAJUVPRVIJUMUPVSRSKUPUOSUVIROVS VHQSHRSV/KRKTNVRVITO>
LQTNHUPKU-?VLRPVIUSRVUNUETMRVRVLRPVNQHQKTLQRPUSVF SQLTSDV:TSVKOTPSFUOUP>
LQTSVIJUMUPVSUOVMUSMUVMQEUOSTSVSJIUOFQLQUSVTVMQEUOSTSVTNKJOTSV/QPLNJSRVT
PQEUNVMUNVSJUNRVUPVLT MTS-D
-KGBL8LJ7M
:TVIOQPLQITNVEUPKT=TVMUVUSKUVKQIRVMUVCO2TSVUSVAJUVIJUMUPVNNUETOSUVT
LJTNAJQUOVIJPKRVMRPMUVSUVPULUSQKUV;TLUOVJPTVKOTPSFUOUPLQTDV6MUH<S?VIUO>
HQKUPVNTVOUTNQ@TLQ
PVMUVKOTSNTMRSVUPKOUVMUIUPMUPLQTSVLUOLTPTSVBVIOTLKQLTO
KOTPSFUOUPLQTSVTVSQNNTSVMUVOJUMTS?VTSQUPKRSVMUVMJL;T?VLTHTS?VKT@TSVMUVQP>
RMROR?VGT(UOTSVUNUETMTS?VRVQPLNJSRVUNUETOVTNVJSJTOQRVMUSMUVUNVSJUNR
9PKOUVNRSVQPLRPEUPQUPKUSVMUNVJSRVMUVUSKUVKQIRVMUVCO2TSVUSK<VNTVPU>
LUSQMTMVMUVMQSIRPUOVMUVUSITLQRVBVMUVJPTVSJIUOFQLQUVMUVHTPQRGOTVSJFQ>
LQUPKUVITOTVIRMUOVOUTNQ@TOVNTSVKOTPSFUOUPLQTSDV7JUMUPVSUOVERNJHQPRSTSVB
OUAJUOQOVHJL;RVUSITLQRVMUVTNHTLUPTHQUPKRDVRVIUOHQKUPV;TLUOVKOTPS>
FUOUPLQTSVTVUNUHUPKRSVTPL;RSVBVSQPVUSITLQRVNQGOUVQPFUOQRO?VLRHRVSRPVNTS
GT(UOTSVLRPEUPLQRPTNUSD
9SVQHIROKTPKUVUNUCQOVLRPVLJQMTMRVUNVKQIRVMUVCO2TVAJUVSUVPULUSQKT
BTVAJUVIJUMUV;TGUOVHJL;TSVETOQTLQRPUSVUPVUNVHUOLTMRV/IUSR?VKTHT(R?
IOUSKTLQRPUS?V UKLD-DV 9NV USITLQRV MQSIRPQGNUV USV JPV LRPMQLQRPTPKU?V IUOR
KTHGQ0PVNRVSRPVNTVFOULJUPLQTVMUVJSR?VUNVKQIRVMUVJSJTOQRS?VUKLD
6MUH<SVMUNVIUSRVRVUNVKTHT(R?VU+QSKUPVETOQTPKUSVMUPKORVMUVNTSVCO2TS
LRPVOJUMTSD
:TV7OUEUPLQ
PVMUVUPFUOHRS
?E6E*E;M#H'LJM>:9FCKJMDIGMLHGJEM
O2TVMRKTMTVMUVOJUMTS?VSQSKUHTVMUVUNUETLQ
PVUN0LKOQLRVRV;QMO<JNQLR
BVLRPVNTVIRSQGQNQMTMVMUVQPLROIROTOVMQFUOUPKUSVKQIRSVMUVTOPUSUSV/KQIRV;T>
HTLT?VITOTVJSRVUPVUNVQPRMROR?VITOTVTIRBRVSRGOUVNRSVIQUS?VUKLD-
7RSUUPVJPTVGTSUVAJUVIUOHQKUVSJVTIUOKJOTVITOTVIRMUOVTLUOLTOSUVT
UNUHUPKRSVTPL;RS?VKTNUSVLRHRVNTSVSQNNTSVMUVOJUMTSDV:TVIUOSRPTVETVSJS>
IUPMQMTVUPVUNVTOP0SDV.RPVQPMQLTMTSVITOTVIUOSRPTSVLRPVHREQNQMTMVTJ>
SUPKUVRVOUMJLQMTVUPVNTSVIQUOPTSVBVIUOSRPTSVMUVIUSRVUNUETMRVAJUVIJUMTP
IUOHTPULUOVUPVIRSQLQ
PVMUVSUPKTMRDV7UOHQKUPVJPTVTHINQTVETOQUMTMVMU
KOTPSFUOUPLQTSDV
-KGBL8LJ7
7UOHQKUPV;TLUOVKOTPSFUOUPLQTSVUPVLJTNAJQUOVSQKQRVTNVAJUVSUVIJUMT
TLLUMUOVBVMRPMUV;TBTVUSITLQRVSJFQLQUPKUVITOTVHTPQRGOTOD
GDIG9KGFKGBKJ7M
ULUSQKTPVMQSIRPUOVMUVSJFQLQUPKUVUSITLQRVNQGOUVITOTVIRMUOVHTPQR>
GOTODV1UAJQUOUPVGTSKTPKUVUSITLQRVITOTVSJVTNHTLUPTHQUPKR?VIUORVUSVIR>
SQGNUVUPLRPKOTOVHRMUNRSVINUCTGNUSVBVMUSHRPKTGNUSVRVIUOHQKUPV;TLUO
KOTPSFUOUPLQTSVTVGT(UOTSVLRPEUPLQRPTNUSVPQVTVRKORSVMQSIRSQKQERSVAJUVPR
KUPCTPVJPTVTIUOKJOTVQPFUOQROVMRPMUVAJUITPVNTSVITKTSVMUVNTVCO2TVRVAJU
PRVSUVIJUMTPVORMUTOVIROVUNNTSD
?E6E*E?M#H'LJM>:9FCKJMALHLMCLMBHLGJ3KHKGDFLM@KMAKHJIGLJMKG
AIJFDF:GMFGDIHAIHL@L
'TGQKJTNHUPKUVQPLNJBUPVJPVTIRBRVITOTVNRSVIQUSVBVTIRBRSVK GQTNUSD
:TVSJ=ULQ
PVMUVNTVIUOSRPTVSJUNUVSUOVTVKOTE0SVMUVJPVTOP0SVAJUVNTVORMUT
IROVMUGT=RVMUVNTSVT+QNTSDV,JL;RSVHRMUNRSVMQSIRPUP?VTMUH<S?VMUVJPRS
HTPCRSVMRPMUVNTVIUOSRPTVSUVIJUMUVSJ=UKTOVMJOTPKUVNTVKOTPSFUOUPLQTVB
UNVKOTSNTMRDV9SK<PVQPMQLTMTSVITOT8VKOTPSFUOUPLQTSVMUVSUPKTMRVTVSUP>
KTMRD
-KGBL8LJ7M
7UOHQKUPV;TLUOVNTSVKOTPSFUOUPLQTSVMUVFROHTVHJBVO<IQMTVBVL
HRMTD
TLQNQKTPVUNVLTHGQRVMUVIT(TNUSVMUNVJSJTOQRD
5# :TV7OUEUPLQ
PVMUVUPFUOHRS
GDIG9KGFKGBKJ7
4RPKOTQPMQLTMTSVUPVIUOSRPTSVLRPVIORGNUHTSV
SURSVLRPVOQUSCRVMU
FOTLKJOT?VOUAJQUOUPVJPTVLQUOKTVLTITLQMTMVHJSLJNTOVUPVORMQNNTSVBVLTMUOTD
RVIJUMUPV;TLUOSUVKOTPSFUOUPLQTSVUPVIRSQLQ
PVMUVKJHGTMRVPQVMUSMUVUN
SJUNRDV:RSVHULTPQSHRSVMUVINUCTMRVBVMUSHRPKTMRVSRP?VLRPVFOULJUPLQT?
H<SVLRHINU=RSVAJUVUPVNTSVCO2TSVLRPVTOPUSUSDV
?E6E*E6M#H'LJM>:9FCKJMDIGMDL>FCCL
O2TVLRHIJUSKTVIROVJPTVLTHQNNTVLRPVOJUMTSVITOTVKOTSNTMTOVTNVIT>
LQUPKUVMUIUPMQUPKUVUPVIRSQLQ
PVMUVKJHGTMT?VMRKTMTVMUVJPVSQSKUHTVMU
OUCJNTLQ
PVUN0LKOQLRVRV;QMO<JNQLRVAJUVIUOHQKUVHRMQFQLTOVNTVTNKJOTVMUVNT
LTHQNNTVBVNTVQPLNQPTLQ
PVMUNVOUSITNMR
G@FDL@LJMALHL7
7UOSRPTSVUPLTHTMTSVLRPVFOTLKJOTSVMUVLTMUOT?VAJUHTMRS?VIRNQKOTJ>
HTKQ@TMRS?VIOQHUOTSVFTSUSVMUVNUSQRPUSVMUVLRNJHPTVRVLJTNAJQUOVRKOTVIT>
KRNRC TVAJUVPRVIUOHQKTVTNVJSJTOQRVIUOHTPULUOVUPVIRSQLQ
PVMUVSUPKTMRDV
-KGBL8LJ7M
7UOHQKUV;TLUOVNTSVKOTPSFUOUPLQTSVBVKOTSNTMRSVUPVIRSQLQ
PVMUVKJH>
GTMRVRVSUHQ>OULRSKTMR?VMUVFROHTVO<IQMT?VSUCJOTVBVL
HRMTDV
GDIG9KGFKGBKJ7M
.RPVHJBVERNJHQPRSTS?VOUAJQUOUPVCOTPMUSVSJIUOFQLQUSVMUVHTPQRGOT
BVIUOHQKUPV2PQLTHUPKUVKOTPSFUOUPLQTSVUPVNTSVAJUVKTPKRVNTVIRSQLQ
PVMU
ITOKQMTVLRHRVNTVMUVMUSKQPRVSUTVKJHGTMRDV4RHRVTNKUOPTKQETVU+QSKUPVTLR>
INUSVUSIUL FQLRSVITOTVCO2TSVAJUVIUOHQKUPVJSTOVTOPUSUSVUSIULQTNUSVITOT
KOTPSIROKTOVTVNTVIUOSRPTVKJHGTMTDV9SKRSVHRMUNRSVQPLROIROTPVNTSVHQS>
HTSVEUPKT=TSVAJUVNTSVCO2TSVLRPVTOP0SD
?E6E$M#H'LJM3F8LJM
/KJDHFADF:G
.RPVCO2TSVFQ=TMTSVTNVSJUNRVRVTVNTVITOUMVHUMQTPKUVJPVSRIROKU?VPRVRLJ>
ITPVHJL;RVSQKQRVBVSJUNUPVIUSTOVIRLRDV.JVJSRVPROHTNHUPKUVUSK<VOUSKOQPCQMR
TVOUTNQ@TOVMUKUOHQPTMRVKQIRVMUVKOTPSFUOUPLQTSVUPVJPTVNRLTNQ@TLQ
P?VTJPAJU
U+QSKUPVHRMUNRSVAJUVIUOHQKUPVJKQNQ@TONTSVUPVMQSKQPKTSVNRLTNQ@TLQRPUSDV
:TV7OUEUPLQ
PVMUVUPFUOHRS
:TSVH<SVFOULJUPKUSVMUVUSKUVKQIRVMUVCO2TSVSRPVNTSVJKQNQ@TMTSVITOTVUN
GT(RVRVITOTVUNVTLLUSRVTVIQSLQPTSD
-KGBL8LJ7M
:TV EUPKT=TV FJPMTHUPKTNV MUV USKUV KQIRV MUV CO2TSV USV AJUV USK<PV TNN
MRPMUVSUVPULUSQKTPVBVRLJITPVHUPRSVUSITLQRDV&UKUOHQPTMRSVHRMUNRS
MUVCO2TSVFQ=TSVIUOHQKUPVAJUVSUTVNTVIORIQTVIUOSRPTVAJUVETVTVOUTNQ@TOVNT
KOTPSFUOUPLQTVNTVAJUVTLLQRPUVNTVCO2T?VSQUHIOUVAJUVSUVMQSIRPCTVMUVSJFQ>
LQUPKUVFJUO@TVUPVNRSVGOT@RSD
9NVQPLRPEUPQUPKUVIOQPLQITNVUSVAJUVPRVSUVIJUMUPVJSTOVFJUOTVMUVNRS
SQKQRSVIOUEQSKRSVPQVITOTVOUTNQ@TOVKOTSNTMRSDV9PVRLTSQRPUSVUSVPULUSTOQRVMQS>
IRPUOVMUVETOQRSVSRIROKUSVUPVMQFUOUPKUSV;TGQKTLQRPUSVITOTVIRMUOVJSTONT
KOTSNTMTPMRVUNVOUSKRVMUVNTVCO2TD
?E6E$E;M#H'LJM3F8LJM@KM5LKHL
O2TVTPLNTMTVTVSJUNRVRVITOUM?VLRPVJPVTOP0SVMUVKQIRVTSQUPKRVBVLRPS>
KOJQMTSVMUVHTKUOQTNVQPR+QMTGNUVITOTVUEQKTOVNTVMUCOTMTLQ
PVMUVNTVCO2TVIRO
UFULKRVMUNV
+QMRD
?E6E"M#H'LJM@KMBKD&I
/KJDHFADF:G
.RPVCO2TSVAJUVUSK<PVFQ=TSVTNVKUL;RVRVSJSIUPMQMTSVHUMQTPKUVJPTVUS>
KOJLKJOTDV4RPSKTPVMUVMRSVHULTPQSHRS?VJPRVMUVMUSINT@THQUPKRVTVKOTE0S
MUVNTVUSKOJLKJOTVBVRKORVMUVSJGQMTVBVGT=TMTVMUVNTVIUOSRPTVLRPVMQSLTITLQ>
MTMDV
55% :TV7OUEUPLQ
PVMUVUPFUOHRS
.UVOULRHQUPMTVSJVJSRVITOTVUNVNUETPKTHQUPKRVMUVJSJTOQRSVAJUVSRP
KRKTNHUPKUVMUIUPMQUPKUSVRVLRPVJPVIUSRVLROIROTNVHJBVUNUETMRV/JSJTOQRS
GTOQ<KOQLRS-D
-KGBL8LJ
:TSVEUPKT=TSVFJPMTHUPKTNUSVMUVUSKUVKQIRVMUVCO2TSVSRPVAJU?VTNVQO
IROVUNVKUL;R?VPRVQPKUOFQUOUPVLRPVUNVHRGQNQTOQRVBVAJUVFTLQNQKTPVUNVKOTSNTMR
SQPVUSFJUO@RVITOTVUNVKOTGT=TMRO?VMTMRVAJUVNTVHTBRO TVMUVHRMUNRSVNRVOU>
TNQ@TPVMUVFROHTVHRKROQ@TMTD
KOTVEUPKT=TVUSVAJUV;TBVTNCJPRSVJSJTOQRSVAJUVIJUMUPVOUTNQ@TOVNT
KOTPSFUOUPLQTVIROVUNNRSVHQSHRSDV6SQHQSHR?VUNVKQUHIRVPULUSTOQRVITOTVOU>
TNQ@TOVNTSVKOTPSFUOUPLQTVUSVSQCPQFQLTKQETHUPKUVHUPROVAJUVUPVNTSVCO2TS
H
EQNUS
:RSVIOQPLQITNUSVQPLRPEUPQUPKUSVSRPVAJUV2PQLTHUPKUVIUOHQKUPV;TLUO
KOTPSFUOUPLQTSVUPVUNVQPKUOQROVMUVNTSV@RPTSVUPVNTSVAJUVUSK<PVQPSKTNTMTSVB
AJUVNTVIRSQGQNQMTMVMUVQPSKTNTLQ
PVMUIUPMUVMUVNTSVLTOTLKUO SKQLTSVTOAJQ>
KULK
PQLTSVMUVNTV;TGQKTLQ
PVMUVAJUVSUVKOTKUDV.RPVLTOTSVBVKQUPUPVKUPMUPLQT
TNVGTNTPLURVIROVNRVAJUVIJUMUPVIORMJLQOVSUPSTLQ
PVMUVQPSUCJOQMTMD
?E=M/FJAIJFBF9IMALHLMCK9LGBLHM<J<LHFIJM@KCMJ<KCI
/KJDHFADF:G
:TVTSQSKUPLQTVTVIUOSRPTSVAJUVSUV;TPVLT MRVTNVSJUNRVINTPKUTVJPRS
IORGNUHTSVITOKQLJNTOUSVMQFUOUPKUSVTNVOUSKRVMUVKOTPSFUOUPLQTSDV:RSVIJPKRS
LNTEUVSRP8
:TSVRIUOTLQRPUSV;TPVMUV;TLUOSUVTVOTSVMUNVSJUNR?VIROVNRVAJUVTJHUPKT
UNVOQUSCRVUOCRP
HQLRVMUVNRSVKOTGT=TMROUSD
:TSVIUOSRPTSVAJUVSUV;TPVLT MRVIJUMUPV;TGUOSUVNUSQRPTMR?VIROVNR
AJUVIJUMUVAJUVSUTVPULUSTOQRVMQSIRPUOVMUVJPVLJQMTMRVUSIULQTND
:RSVNUETPKTHQUPKRSVMUVJSJTOQRSVAJUVSUV;TPVLT MRVIJUMUPVOUTNQ@TOSU
LRPVCO2TSVMUVKOTPSFUOUPLQTV/EUOVFQL;TVSRGOUVCO2TSVH
EQNUS-DV6ITOKUVMU
USKRSVMQSIRSQKQERS?VU+QSKUPVRKORSVAJUVUSK<PVUSIUL FQLTHUPKUVMQSU(TMRS
ITOTVTSQSKQOVBVNUETPKTOVTVIUOSRPTSVAJUVSUV;TPVLT MRVTNVSJUNRDV6VLRPKQ>
PJTLQ
PVSUVHJUSKOTPVTNCJPRSVU=UHINRS8
:TV7OUEUPLQ
PVMUVUPFUOHRS
?E=E;M,FCCLJM@KMCK9LGBL>FKGBI
.QNNTSVAJUVIRSQGQNQKTPVOUCJNTOVNTVTNKJOTVMUNVTSQUPKRVMUSMUVJPTVIRSQ>
LQ
PVPROHTNV;TSKTVOTSVMUVSJUNR?VIUOHQKQUPMRVAJUVUNVIORFUSQRPTNVIJUMT
QPLROIROTOVTVIUOSRPTSVMUIUPMQUPKUSVAJUVSUV;TBTPVLT MRVSQPVPULUSQMTM
MUVTINQLTOVNTSVK0LPQLTSVMUVHTPQIJNTLQ
PVHTPJTND
?E=E?M,FJBK>LJM@KMK9LD<LDF:GEM
4THQNNTSVFNU+QGNUSVRVSUHQ>FNU+QGNUSVAJUVIUOHQKUPVOULRCUOVTVJPTVIUO>
SRPTVMUNVSJUNRVBVKOTPSIROKTONTVUPVIRSQLQ
PVKJHGTMTDV7TOTVUNUETOVUSKRS
SQSKUHTSVSUVOUAJQUOUVJPVH PQHRVMUV!VIUOSRPTSDV6NCJPRSVHRMUNRSVIJU>
MUPVJSTOSUVITOTVKOTPSIROKTOVTOOTSKOTPMRVIROVUNVSJUNRVIROVJPVSRNRVKOTGT>
=TMRODV
?E=E6M0ICD&IGKJM@KMCK9LGBL>FKGBI
4RNL;RPUKTSVMUVTQOUVTJKR>;QPL;TGNUSVAJUVHUMQTPKUVJPVQPFNTMROVUN0L>
KOQLRVSUVKOTPSFROHTPVUPVTSQUPKR?VIUOHQKQUPMRVTNVIORFUSQRPTNVQPLROIROTO
TVIUOSRPTSVMUIUPMQUPKUSVAJUVSUV;TBTPVLT MRVSQPVPULUSQMTMVMUVTINQLTO
K0LPQLTSVMUVHTPQIJNTLQ
PVHTPJTN
-KGBL8LJ7M
3V9SKUVKQIRVMUVTBJMTSVFTLQNQKTPVNTVQPLROIROTLQ
PVMUVJPTVIUOSRPTVAJU
SUV;TVLT MR?VOUMJLQUPMRVSQCPQFQLTKQETHUPKUVUNVOQUSCRVMUNVKOTGT=T>
MRO?VSRGOUVKRMRVUPVNRVAJUVSUVOUFQUOUVTVNTVFJUO@TVTINQLTMTVBVTVNTS
IRSKJOTSVFRO@TMTSD
3V9NVJSRVMUVUSKRSVMQSIRSQKQERSVKTHGQ0PVLRPKOQGJBUVTVOUMJLQOVUNVOQUSCR
MUVNUSQ
PVMUNVJSJTOQRD
6NCJPRSVIRSQGNUSVIORGNUHTSVMUVUSKTSVTBJMTSVIRMO TPVSUO8
3V9NVLRSKUVULRP
HQLRVPRVIJUMUVETNROTOSUVBTVAJUVSRPVTBJMTSVAJU
SUVJSTPVSRNRVUPVLTSRSVUSIUL FQLRSD
3V:TVTBJMTV;TVMUVUSKTOVLUOLTPTVBVMQSIRPQGNUVITOTVIRMUOVNUETPKTOVTN
JSJTOQRVLRPVOTIQMU@D
555 :TV7OUEUPLQ
PVMUVUPFUOHRS
?E=E=MBHLJM41<@LJ
?E=E2M4JFKGBIJM@KMBHLGJ3KHKGDFL
4R= PVMUVJPRSV!%VLHVMUVMQ<HUKOR?VOULJGQUOKRVMUVUSIJHTVAJUVIUO>
HQKUVCQOTOVTVNTVIUOSRPTVMUIUPMQUPKUVSRGOUVUNVTSQUPKR?VUEQKTPMRVAJUVUN
IORFUSQRPTNVKUPCTVAJUVOUTNQ@TOVUSFJUO@RSVUPVNTVKOTPSFUOUPLQTD
?E=E*M!LHHLJ
?E=E*E;M!LHHLJMKJBLDFIGLHFLJMALHLMCK9LGBLHJKMAIHMJM>FJ>I
4TGTNNUKUSVTJKR>USKTGNUSVTPLNTMRSVTVNTVITOUMVRVTNVSJUNRVAJUVIUOHQ>
KUPVAJUVNTVIUOSRPTVMUIUPMQUPKUVOUTNQLUVFJUO@TVITOTVQPLROIROTOSUVBVHQ>
PQHQ@TPVUNVUSFJUO@RVMUNVIORFUSQRPTNVMJOTPKUVNTVHREQNQ@TLQ
PD
?E=E*E?M!LHHLJM@KM@<D&L
"TOOTVMUVGT(RVAJUVSUVQPSKTNTVFQ=<PMRNTVUPVNTVITOUMVMUVNTVMJL;TDV7UO>
HQKUVAJUVNTVIUOSRPTVMUIUPMQUPKUVSUVTCTOOUVITOTVHTPKUPUOVUNVUAJQNQGOQR
BV;TCTVFJUO@TVLRPVUNVGOT@RVITOTVUPKOTOVBVSTNQOVMUVNTVMJL;T?VOUMJLQUPMR
UNVUSFJUO@RVMUNVIORFUSQRPTN
?E=E*E6M!LHHLJMALHLMFGI@IHI
"TOTPMQNNTVHUK<NQLTVINUCTGNUVAJUVSUVQPSKTNT?VFQ=<PMRNTVTVNTVITOUM
=JPKRVTNVQPRMRORDV7UOHQKUPVAJUVNTVIUOSRPTVMUIUPMQUPKUV;TCTVFJUO@TVLRP
NRSVGOT@RSVITOTVSUPKTOSUNUETPKTOSUVOUMJLQUPMRVUNVUSFJUO@RVMUNVIORFU>
SQRPTNVUPVNTVHREQNQ@TLQ
PDV
:TV7OUEUPLQ
PVMUVITLQUPKUSVBVLTOCTSVITOTV*469V 55$
PVMUVUPFUOHRS
?E=E$M0FGB<HIGKJMALHLMDIHHKDDF:GM@KMCLM>LHD&L
4QPKJO
PVMUVPBNRPVRVKUNTVLRPVMRSVHTPQ=TSVITOTVTSQSKQOVTNVITLQUPKU
LJTPMRVMQOQ=TVTVNTVIUOSRPTVMUIUPMQUPKUVMJOTPKUVNTVMUTHGJNTLQ
P?VLROOQ>
CQUPMRVNTVIRSQLQ
PVBVUEQKTPMRVLT MTSVUPVLTSRVMUVMUSUAJQNQGOTOSUD
?E=E"M(ICFALJBIJ
?E=E"E;M(ICFALJBIJM@KMHLC
7RNQITSKRVLRHIJUSKRVMUVJPVOT NVUPVUNVKUL;RVIROVHUMQRVMUNVLJTNVSU
IJUMUVKOTSNTMTOVTVNTVIUOSRPTVTVNTVAJUVSUVETVTVOUTNQ@TOVNTVKOTPSFUOUPLQTVB
MUVJPVHRKROVAJUVIUOHQKUVSJGQOVRVGT=TOVMUVTNKJOTVTVNTVIUOSRPTVMUIUP>
MQUPKUD
?E=E"E?M(ICFALJBIJM
7RNQITSKRVLRHIJUSKRVMUVMRSVOT NUSVIUOIUPMQLJNTOUSVTPLNTMRSVUPVUN
KUL;RVBVAJUVIJUMUPVSJGQOVBVGT=TOVMUVTNKJOTVTVNTVIUOSRPTVMUIUPMQUPKUVB
MUSINT@TONTVTVLJTNAJQUOVIJPKRVLRHIOUPMQMRVUPKOUVNRSVMRSVOT NUSD
?E=E"E6ML5CLJM1MJIAIHBKJMALHLMCIJMAFKJ
.RIROKUVMUVHTKUOQTNVO CQMRVAJUVSUVSJ=UKTVTNVLRNL;
PVMUVNTVLTHTVITOT
UEQKTOVAJUVSUVMUSINTLUVBVIUOHQKUVAJUVNTVIUOSRPTVMUIUPMQUPKUVU=UO@T
FJUO@TVLRPVNRSVIQUSVITOTVQPLROIROTOSUVUPVNTVLTHT?VOUMJLQUPMRVUNVUSFJUO@R
OUAJUOQMRVTNVIORFUSQRPTN
?E=E"E=M4C)LJMALHLMFGI@IHI
.QSKUHTVMUVTN@TVAJUVIUOHQKUVQPLOUHUPKTOVNTVTNKJOTVMUNVTSQUPKRVMUN
QPRMROR?VUNUETPMRVNTVTNKJOTVMUVNTVIUOSRPTVMUIUPMQUPKUDV7UOHQKUVAJUVUN
IORFUSQRPTNVTMULJUVNTVTNKJOTVMUVNTVIUOSRPTVMUIUPMQUPKUVITOTVOUTNQ@TOVNT
KOTPSFUOUPLQTVMUVSUMUSKTLQ
PVTVGQIUMUSKTLQ
PVBVTVNTVQPEUOSTD
55! :TV7OUEUPLQ
PVMUVUPFUOHRS
?E=EM4JFKGBIMDLBLA<CBL
4R=QPUSVAJUVSUVLRNRLTPVUPVUNVTSQUPKRVMUVJPTVSQNNTVRVGJKTLTVLRPEUPLQR>
PTNVUVQPLROIROTPVJPVHULTPQSHRVAJUVTBJMTVTVNTVIUOSRPTVTVNUETPKTOSUDV7UO>
HQKUPV AJUV UNV IORFUSQRPTNV OUTNQLUV JPV HUPROV USFJUO@RV UPV UNV KOTSITSRV MU
IUOSRPTSVMUIUPMQUPKUSVMUVNTVIRSQLQ
PVMUVSUMUSKTLQ
PVTVGQIUMUSKTLQ
PD
?E=E;M4JFKGBIJ
?E=E;E;M4JFKGBIM@KM5LKHLM
6SQUPKRVSJSIUPMQMRVHUMQTPKUVJPRSVSRIROKUSVLRNRLTMRSVUPVNTSVIT>
OUMUSVMUVNTVGT(UOTDV7UOHQKUPVSUPKTOVTVNTVIUOSRPTVMUIUPMQUPKUVUPVNTVGT>
(UOTVBVFTLQNQKTPVTNVIORFUSQRPTNVNTVHTPQIJNTLQ
PVMJOTPKUVNTVUPKOTMTVBVNT
STNQMTVMUVNTVGT(UOTD
?E=E;E?M4JFKGBIM@KM@<D&L
6SQUPKRVINUCTGNUVTPLNTMRVTVNTVITOUMVAJUVIUOHQKUVSUPKTOVTVNTVIUO>
SRPTVMUIUPMQUPKUVMJOTPKUVNTVMJL;TDV9EQKTPVAJUVUNVIORFUSQRPTNVKUPCTVAJU
HTPKUPUOVTVNTVIUOSRPTVMUIUPMQUPKUVUPVIRSQLQ
PVMUVGQIUMUSKTLQ
PVHQUP>
KOTSVNTVMJL;TD
?E=E;;M0&LCKDIJ
?E=E;;E;M0&LCKDIMDIGMAHICIG.LDF:GMAC9FDL
4;TNULRVITOTVUEQKTOVAJUVNTVIUOSRPTVUPVSUMUSKTLQ
PVSUVLTQCTVRVSU
MUSNQLU?VCOTLQTSVTVNTVIQU@TVAJUVMQSIRPUVUPVNTVITOKUVIUOQPUTNDV9EQKTVAJUVUN
IORFUSQRPTNVKUPCTVAJUVUFULKJTOVOULRNRLTLQRPUSVMUVNTVIUOSRPTVMUIUP>
MQUPKUVRVTMRIKTOVIRSKJOTSVFRO@TMTSVMJOTPKUVNTVTMHQPQSKOTLQ
PVMUVHUMQ>
LTHUPKRS?VLRHQMT?VUKLD
?E=E;;E?M0&LCKDIMDIGMJ<8KDF:GMLMJFCCL
4;TNULRVAJUVSUVSJ=UKTVTVNTVSQNNTVHUMQTPKUVJPTVNT@TMTVMUVNTSVMRS
KQOTSVAJUVSRGOUSTNUPVMUVNRSVNTKUOTNUS?VQHIQMQUPMRVAJUVNTVIUOSRPTVMUIUP>
MQUPKUVSUVLTQCTVRVMUSNQLUVMUVNTVSQNNTDV9EQKTVAJUVUNVIORFUSQRPTNVKUPCTVAJU
UFULKJTOD
:TV7OUEUPLQ
PVMUVITLQUPKUSVBVLTOCTSVITOTV*469V 55
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?E=E;?M0ICD&:GMALHLMDL>5FIJMAIJB<HLCKJ
4RNL;
PVLRHIJUSKRVIROVJPTVFJPMTVMUVTNCRM
PVBVIRNQ0SKUOVMRPMUVSU
TNR=TPVMRSVTNHR;TMTSVAJUVSUVQPFNTPVTNKUOPTKQETHUPKUVLRPVJPVLRHIOUSRO
ITOTVLROOUCQOVNTVIRSQLQ
PVMUVNTVIUOSRPTVUPLTHTMTDV7UOHQKUVTNVIORFUSQRPTN
OUTNQ@TOVNRSVLTHGQRSVIRSKJOTNUSVMUVNTVIUOSRPTVMUIUPMQUPKUVLRPVHTBRO
FTLQNQMTMD
?E=E;6M0ICD&IGKBLJMDIGMLJF@KHIJ
9SKUOTVMRKTMTVMUVTSQMUORSVAJUVSUVLRNRLTVMUGT=RVMUVNTVIUOSRPTVMU>
IUPMQUPKUVKJHGTMT?VFTLQNQKTPMRVTNVIORFUSQRPTNVNTVOUTNQ@TLQ
PVMUNVLTHGQR
MUVIRSQLQ
PV/GRLTVTOOQGTVTVMUVNTMR?VMUVNTMRVTVGRLTVTGT=R?VUKLD-DV6NCJPTS
LRNL;RPUKTSVSRPVTIKTSV2PQLTHUPKUVITOTVUNVOUIRSQLQRPTHQUPKRVBVRKOTS
IUOHQKUPVNTVKOTPSFUOUPLQTVBVUNVOUIRSQLQRPTHQUPKRD
?E=E;=M/FJAIJFBF9IJMALHLM>I9KHMJFCCLJ
9SKOJLKJOTVHUK<NQLTVLRHIJUSKTVIROVLJTKORVOJUMTSVBVMRSV;ROAJQNNTS
USIULQTNHUPKUVMQSU(TMTSVITOTVKOTPSIROKTOVSQNNTS?VHUSTSVBVHRGQNQTOQRD
7UOHQKUPVTNVIORFUSQRPTNVMUSINT@TOVHRGQNQTOQRVUSK<KQLRVSQPVPULUSQMTMVMU
OULJOOQOVTVNTVHTPQIJNTLQ
PVHTPJTNVMUVLTOCTS
?E=E;2MLHDIM@KM,BH1KH
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LTLQ
PV MUV NTV IUOSRPTV GRLTV TOOQGTV BV UNV RKORV UPV IRSQLQ
PV GRLTV TGT=RD
7UOHQKUPVTNVIORFUSQRPTNVHRMQFQLTOVNTVIRSQLQ
PVMUVNTVIUOSRPTVMUIUPMQUPKU
UPVNTVLTHTVSQPVPULUSQMTMVMUVUFULKJTOVHREQNQ@TLQRPUSVHTPJTNUSD
?E=E;*MH<.LM>IGBLMKJDLCKHLJ
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KUPVTSLUPMUOMUSLUPMUOVUSLTNUOTSV/IJUMUVJKQNQ@TONTVNTVIUOSRPTVMUIUP>
MQUPKUVHTPU=<PMRNTVHUMQTPKUVJPV=RBSKQL-DV9EQKTPVAJUVUNVIORFUSQRPTN
KUPCTVAJUVOUTNQ@TOVUSFJUO@RSVITOTVTSLUPMUOVBVMUSLUPMUOVTVIUOSRPTSVMU>
IUPMQUPKUSVSUPKTMTSVUPVSQNNTSVMUVOJUMTSD
55 :TV7OUEUPLQ
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?E=E;$M(CLBL3IH>L
?E=E;$E;M(CLBL3IH>LMKCK9L@IHL
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IUOHQKQUPMRV STNETOV RGSK<LJNRSV LRHRV USLTNRPUSV RV MUSPQEUNUSDV 7JUMU
QPSKTNTOSUVKTPKRVUPVQPKUOQROUSVLRHRVUPVU+KUOQROUSDV9EQKTPVAJUVUNVIOR>
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LTHQNNTD
?E=E;$E?M(CLBL3IH>LM>IGBLKJDLCKHLJM@KMDL>5FIJM@KMAKG@FKGBK
7NTKTFROHTVAJUVIUOHQKUVTSLUPMUOVBVMUSLUPMUOVKOTHRSVMUVUSLTNUOT
LRPVMQFUOUPKUSVCOTMRSVMUVQPLNQPTLQ
PD
9EQKTPVAJUVUNVIORFUSQRPTNVKUPCTVAJUVSTNETOVMUSPQEUNUSVLRPVNTVSQNNT
MUVOJUMTSD
?E=E;$E6M(CLBL3IH>LM>IGBLKJDLCKHLJM@KMAKG@FKGBKM'GFDL
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HQSHTVQPLNQPTLQ
PVMUVIUPMQUPKUDV9EQKTPVAJUVUNVIORFUSQRPTNVKUPCTVAJU
STNETOVMUSPQEUNUSVLRPVNTVSQNNTVMUVOJUMTSD
?E=E;$E=M(CLBL3IH>LJM>IGBLKJDLCKHLJM@KMBHL>IJMD<H9IJ
7NTKTFROHTVAJUVIUOHQKUVTSLUPMUOVBVMUSLUPMUOVKOTHRSVMUVUSLTNUOT
LRPVMQFUOUPKUSVCOTMRSVMUVQPLNQPTLQ
PVBVKOTHRSVLJOERSVMUVUSLTNUOTDV9EQ>
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MTSD
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MUSNQ@TPKUVBVAJUVIUOHQKUVUNVTLLUSRVFORPKTNVMUVIUOSRPTSVMUIUPMQUPKUS
UPVSQNNTVMUVOJUMTSDV9EQKTPVAJUVUNVIORFUSQRPTNVOUTNQLUVHREQNQ@TLQRPUSVMU
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KULK
PQLTSDV9EQKTVAJUVUNVIORFUSQRPTNVKUPCTVAJUVSTNETOVIUAJU(RSVMUSPQ>
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?E=E;E?M+L>ALJMAIHB%BFCKJ
1THITSVKUNUSL
IQLTSVMQSU(TMTSVITOTVSTNETOVMUSPQEUNUSVBVRGSK<LJNRS
LJTPMRVSUVKOTPSIROKTPVSQNNTSVMUVOJUMTS?VLTHQNNTS?VUKLDV.RPVINUCTGNUSVB
IJUMUPVHRPKTOSU?VMUSHRPKTOSUVBVKOTPSIROKTOSUVF<LQNHUPKUDV9EQKTPVAJU
UNVIORFUSQRPTNVKUPCTVAJUVTSLUPMUOVBVMUSLUPMUOVTVIUOSRPTSVSUPKTMTSVUP
SQNNTSVMUVOJUMTSD
?E=E;E6M+L>ALJMA<KGBK
1THITSVUPVFROHTVMUVLJ(TVAJUVIUOHQKUPV;TLUOVMUVLJ(TVBVTS VSTNETO
IUAJU(RSVRGSK<LJNRSVMUVGT=TVTNKJOTD
9EQKTVAJUVUNVIORFUSQRPTNVKUPCTVAJUVSTNETOVIUAJU(RSVMUSPQEUNUSVLRP
NTVSQNNTVMUVOJUMTS?VLTOORSVRVLTHQNNTSD
?E=E?M+KAIJL5HL)IJMALHLMFGI@IHI
9SKOJLKJOTVHUK<NQLTVMUVLJTKORVITKTSVTIRBTMTSVSRGOUVUNVSJUNRVBVOU>
CJNTGNUSVUPVTNKJOTDV
7UOHQKUPVAJUVNTVIUOSRPTVMUIUPMQUPKUV;TCTVFJUO@TVLRPVNRSVGOT@RS
ITOTVSUPKTOSUNUETPKTOSU?VOUMJLQUPMRVUNVUSFJUO@RVMUNVIORFUSQRPTNVUPVNT
HREQNQ@TLQ
P
?E=E?;M,FCCLJ
?E=E?;E;M,FCCLM.FHLBIHFLM@KM5LKHL
6SQUPKRVAJUVSUVFQ=TVTVNRSVGROMUSVMUVNTVGT(UOTVHUMQTPKUVLJTKORVSR>
IROKUSDV&QSIRPUVMUVGOT@RSVTGTKQGNUSVBVJPVHULTPQSHRVAJUVIUOHQKUVCQOTO
55 :TV7OUEUPLQ
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NTVSQNNTV$%DV7UOHQKUPVSUPKTOVTVNTVIUOSRPTVMUIUPMQUPKUVUPVNTVGT(UOTVB
FTLQNQKTPVTNVIORFUSQRPTNVNTVHTPQIJNTLQ
PVMJOTPKUVNTVUPKOTMTVBVNTVSTNQMTVMU
NTVGT(UOTD
?E=E?;E?M,FCCLM>IGBLMKJDLCKHLJ
.QNNTVMUVOJUMTSVTLLQRPTMTVIROVJPVHRKROVUN0LKOQLRDV9NVSQSKUHTVMUVOJU>
MTSVKOTSUOTSVH2NKQINUSVIUOHQKUVTSLUPMUOVMUSLUPMUOVIUNMT(RSVMUV;TSKT
5$VLHVMUVTNKRDV9EQKTPVAJUVUNVIORFUSQRPTNVKUPCTVAJUVOUTNQ@TOVUSFJUO@RS
ITOTVTSLUPMUOVBVMUSLUPMUOVTVIUOSRPTSVMUIUPMQUPKUSVSUPKTMTSVUPVSQNNT
MUVOJUMTS
?E=E?;E6M,FCCLMJLC9LMKJDLCKHLJ
6SQUPKRVINUCTGNUVFQ=TMRVSRGOUVJPVOTQNVAJUVIUOHQKUVTSLUPMUOVBVMUS>
LUPMUOVKOTHRSVMUVUSLTNUOTDV9EQKTPVAJUVUNVIORFUSQRPTNVKUPCTVAJUVSTNETO
MUSPQEUNUSVLRPVNTVSQNNTVMUVOJUMTSD
?E=E?;E=M,FCCLJMM5<BLDLJMKCK9L@IHLJ
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LJTPMRVSUVTLLQRPT?VUHIJ=TVTVNTVIUOSRPTVMUIUPMQUPKUV;TLQTVTOOQGTVB
;TLQTVMUNTPKU?VFTLQNQKTPMRVNTVQPLROIROTLQ
PVMUNVJSJTOQRVBVOUMJLQUPMRVUN
USFJUO@RVMUNVIORFUSQRPTNVUPVNTVKOTPSFUOUPLQTD
?E=E?;E2M,FCCLJMDIGMIHFGLC
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@TOVNTVSQNNTVTVNTV;TGQKTLQ
PVSQPVPULUSQMTMVMUVKOTPSIROKTOVTVNTVIUOSRPTVMU>
IUPMQUPKUDV9EQKTPVAJUVUNVIORFUSQRPTNVKUPCTVMUVMUSINT@TOVTVNTVIUOSRPT
MUIUPMQUPKUV;TSKTVUNVLJTOKRVMUVTSURD
?E=E?;E*M,FCC:GM@KMKCK9LDF:GM9KHBFDLC
.QNN
PVUN0LKOQLRVAJUVIUOHQKUVSJGQOVBVGT=TOVUNVTSQUPKRVUPVIRSQLQ
PV;R>
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FUSQRPTNV TMULJUV NTV TNKJOTV MUV NTV IUOSRPTV MUIUPMQUPKUV ITOTV OUTNQ@TOV NT
KOTPSFUOUPLQTVMUVSUMUSKTLQ
PVTVGQIUMUSKTLQ
PVBVTVNTVQPEUOSTD
:TV7OUEUPLQ
PVMUVUPFUOHRS
?E=E??M!LKHLMALHLMDL>L
&QSIRSQKQERVLRHIJUSKRVIROVJPTVGTSUVO CQMT?VMRSVITPUNUSVNTKUOTNUSVB
JPRVFORPKTNDV.UVLRNRLTVGT=RVNTVIUOSRPTVMUIUPMQUPKUVUPLTHTMTVBVIUOHQKU
MJL;TONTVHUMQTPKUVJPVCOQFRVMRKTMRVMUVHTPCJUOTVBVJPVSJHQMUORVITOTVNT
UETLJTLQ
PVMUNVTCJTDV9EQKTPVAJUVUNVIORFUSQRPTNVKUPCTVMUVMUSINT@TOVTVNT
IUOSRPTVMUIUPMQUPKUV;TSKTVUNVLJTOKRVMUVTSURD
?E=E?6M4JFKGBIJMDLBLA<CBL
.UVKOTKTVMUVLR=QPUSVRVTSQUPKRSVAJUVSUVLRNRLTPVUPVUNVTSQUPKRVMUVJPT
SQNNTVRVGJKTLTVLRPEUPLQRPTNDVPLROIROTPVJPVHULTPQSHRVAJUVTBJMTVTN
JSJTOQRVTVNUETPKTOSUD
?E=E?=M41<@LJM>KD%GFDLJMALHLMBHLGJ3KHKGDFLJMCLBKHLCKJ
6BJMTPVTVOUTNQ@TOVKOTPSFUOUPLQTSVNTKUOTNUSDV6NCJPRSVHRMUNRSVFJP>
LQRPTPVLRHRVKOTPSIROKTMROUSVAJUVSUVTLRINTPVTVLTHTSVRVLTHQNNTSV/SQP
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NTSVUPVTNKJOTVRVQPLNQPTONTSDVV
?E=E?2M!LKHLMHK.<CL5CKMKGMLCB<HL
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PDV1UMJLUVNTSVIRSKJOTS
QPLRHRMTSVITOTVNRSVLJQMTMROUSDV:TVGT(UOTVSUVT=JSKTVTVNTVTNKJOTVMUSUTMTD
*THGQ0PVFTLQNQKTVNTVNQHIQU@TDV6JHUPKTVNTVSUCJOQMTMVMUVNRSVOUSQMUPKUSVB
NTVLRHRMQMTMD
5$% :TV7OUEUPLQ
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:TVIOQPLQITNVEUPKT=TVMUVUSKRSVIORMJLKRSVUSVAJUVFTLQNQKTPVNTVHREQNQ>
@TLQ
PVMUVJSJTOQRSVUPVSQKJTLQRPUSVUSIUL FQLTSD
?E2MI9F>FKGBIJM>%JM<J<LCKJE
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PVMUVIUOSRPTSVUSVJPTVMUVNTSVTLKQEQMTMUSVH<SVFOULJUP>
KUSVLJTPMRVSUVKOTGT=TVLRPVITLQUPKUSDV.UVKOTKTVMUVJPTVKTOUTVAJUVOUTNQ@TP
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LJQMTMRSVMUVUPFUOHUO T?VLUNTMRO?VFQSQRKUOTIUJKT?VUKLDV.UVKOTKTVMUVJPT
TLKQEQMTMVLRPSQMUOTMTVLRHRVMUVTNKRVOQUSCRVMUVNUSQ
PVSRGOUVKRMRVITOTVNT
USITNMTD
4JTPMRVSUV;TGNTVMUVHREQNQ@TLQ
PVMUVIUOSRPTSVSUVUPKQUPMUVKRMT
TLLQ
PVAJUVQHINQAJUVNTSVTLLQRPUSVMUVNUETPKTO?VGT=TO?VSRSKUPUO?VMUSINT@TO?
USKQOTOVRVUHIJ=TOVKUPQUPMRVUPVLJUPKTVAJUVSRPVIUOSRPTSVNRSVSJ=UKRS
SRGOUVNRSVAJUVSUVOUTNQ@TPVUSKTSVTLLQRPUSDV:TVMQFUOUPLQTVLRPVOUSIULKRVT
NTVHTPQIJNTLQ
PVMUVLTOCTSVUSVSJSKTPLQTN?VBTVAJUVUPVUSKUVLTSRVSUVOUAJQUOU
JPVLJQMTMRVUSIULQTN?VIJUMUV;TGUOVHREQHQUPKRSVQHIOUEQSKRSVMUNVJSJTOQR?
UKLDV
:TVHREQNQ@TLQ
PVMUVIUOSRPTSVPROHTNHUPKUVSUVMQEQMUVUPVMRSVKQIRS
MUVTLKQEQMTMUS8
3V*OTPSFUOUPLQTS8VHREUOVTNVJSJTOQRVMUSMUVJPTVSJIUOFQLQUVTVRKOTV/IRO
U=UHINR?VMUVNTVLTHTVTVNTVSQNNT-D
3V1UIRSQLQRPUS7 HREUOVTNVJSJTOQRVSRGOUVNTVHQSHTVSJIUOFQLQUV/IRO
U=UHINR?VOULRNRLTOVTNVJSJTOQRVUPVNTVLTHT
:TV7OUEUPLQ
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?E2E;M0HFBKHFIJM@KM>I9FCF)LDF:GM1MBHLGJ3KHKGDFLJ
+KLCF)L@LJM@KM3IH>LM>LG<LC
9SKUVKQIRVMUVRIUOTLQRPUSVSRPVNTSVAJUVOUAJQUOUPVJPVHTBROVUSFJUO@R
F SQLRVBVU+QSKUVJPTVHTBROVIORGTGQNQMTMVMUVHTKUOQTNQ@TOSUVUNVOQUSCRVMUVNU>
SQ
PVRSKURHJSLJNTOD
:RSVIORLUMQHQUPKRSVSUV;TPVMUSTOORNNTMRVLRPSQMUOTPMRVAJUVUPVHJL;TS
RLTSQRPUSVIJUMUPVPRVU+QSKQOVTBJMTSVK0LPQLTSVTVMQSIRSQLQ
PVMUNVIORFUSQRPTND
+KLCF)L@LJMAIHM<GM'GFDIMAHI3KJFIGLC
9SKTSVRIUOTLQRPUSVKQUPUPVJPVHTBROVOQUSCRVIJUSKRVAJUVUNVIUSRVMUN
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KOTPSFUOUPLQTSVMUVIUOSRPTSVMUGUPVOUTNQ@TOSUVIOUFUOQGNUHUPKUVUPKOUVET>
OQRSVIORFUSQRPTNUSD
:RSVIORLUMQHQUPKRSVSUV;TPVOUMTLKTMRVLRPSQMUOTPMRVAJUVUNVKOTGT=R
SUVMUSTOORNNTVIROVJPV2PQLRVIORFUSQRPTND
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HTBROVUSFJUO@RVMUNVIORFUSQRPTND
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PV B
KOTPSFUOUPLQTVMUVIUOSRPTSVLRHINUKTHUPKUVMUIUPMQUPKUSVBVAJUVOUAJQU>
OUPVMUVJPTVTBJMTVMUVH<SVMUNV %VIROVITOKUVMUNVIORFUSQRPTN
?E2E?MLDBIHKJM<KM@K5KGMDIGJF@KHLHJKMKGMCLM>I9FCF)LDF:GM@K
AKHJIGLJ
:TVHREQNQ@TLQ
PVMUVIUOSRPTSVMUIUPMUVMUVPJHUORSRSVFTLKROUS?VAJU
IJUMUPVTCOJITOSUVUPVLJTKORV<HGQKRSVFJPMTHUPKTNUS8
3V9PKROPR8V9SITLQRVMUVKOTGT=RVMQSIRPQGNU?VGTOOUOTSVTOAJQKULK
PQLTS?
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PUSVTHGQUPKTNUSV/KUHIUOTKJOT?VQNJHQPTLQ
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MUVLRNTGROTLQ
P>MUIUPMUPLQT?VUPKROPRVFTHQNQTO?VUKLD
5$5 :TV7OUEUPLQ
PVMUVUPFUOHRS
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P7 1QKHRVMUVKOTGT=R?VITJSTSVBVMUSLTPSRS?VTNKUOPTPLQT
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PVUVQPFROHTLQ
PVUPVIOUEUPLQ
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PVUPVK0LPQLTSVMU
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3V,REQHQUPKRSVFJUOKUSVQPUSIUOTMRSVRVTGOJIKRSD
3VPKUPKTOVUEQKTOVAJUVJPVOUSQMUPKUVSUVLTQCTVRVNUETPKTONRVMUNVSJUNR
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PVMU
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JSJTOQR?VUKLDV
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IRSDV:RSVSJUNRSVHTNVHTPKUPQMRSVIJUMUPVLTJSTOVMUSNQ@THQUPKRS?
KORIQU@RSVRVHREQHQUPKRSVTGOJIKRSVLJTPMRVSUVHREQNQ@TPVIUOSRPTSD
3V7O<LKQLTSVMUVKOTGT=RVBVTSIULKRSVROCTPQ@TKQERS8V9AJQIRVMQSIRPQGNU?
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VDCD J U 

F? MHW X> MAWS X   @JIO

=R  VE:  WS XU

MHW X> MAWS X   @JIO FP

=R  VE:  WS XU

VKVPF NXW XW 

FV MHW X> MAWS X   @JIO

=R  VE:  WS XU

VFPK H  

MHW X> MAWS X   @JIO FD

=R  VE:  WS XU

VBCPV   X

FK MHW X> MAWS X   @JIO

=R  VE:  WS XU

H Q    L

MRU E  T T

J EO  Q  W;  

N R8    T

O  X   WU S

;   Q X   T

N  X   S   XL

HW  X   TR

MHW X> MAWS X   @JIO FC

=R  VE:  WS XU

   R 5  SW L

J  W   X 

M  S  U R 

H     R 

FF MHW X> MAWS X   @JIO

=R  VE:  WS XU

H W  R    

O    XL

H Q   R X

)  U S Q X

MHW X> MAWS X   @JIO FB

=R  VE:  WS XU

O  TW  X   

O G W  

M  X       T

■ J    

■ J W UG  Q

■ J R     

■ J R   L

■ J   T  7  L

=U SUG  -  T L

■ J  SR  WL

■ J    W    

■ J S R X

F/ MHW X> MAWS X   @JIO

=R  VE:  WS XU

■ J S     

M  G Q   T

■ J  T W T  UL

■ J   TT  L

■ J   

■ J   X 

■ J 77 XW 

■ OU SUG U   

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