You are on page 1of 17

La dislèxia:

detecció i actuació
en l’àmbit educatiu

Materials per a l’atenció


a la diversitat

Guia per a professors


Educació secundària obligatòria
Publicat pel
Departament dʼEnsenyament de
la Generalitat de Catalunya.
Elaborat pel
Col·legi de Logopedes de Catalunya – CLC


  
  
  
  

  
  
  











X !1 3?>C39P>391 6?>?<U7931 OC <b8129<9D1D @5B 945>D96931B 9 =1>9@E<1B 5<C C?>C 45 <5C @1B1E<5C 9 5CDM
B53?>57E413?=<b8129<9D1D6?>1=5>D1<@5BB51<9DJ1B5<C@B?35CC?C4b1>M<9C99CQ>D5C99>85B5>DC5><1
<<5>7E15C3B9D1
X!1=5=UB91F5B21<_<1=5=UB916?>?<U7931OC<b8129<9D1D@5BB5D5>9B<b?B4B5C5AW5>391<45<=1D5B91<
F5B21<4EB1>DE>3EBD@5BQ?4545D5=@C@5HB53?B41BE>1<<9CD145@1B1E<5C?4Q79DC?2OE>1<<9CD1
4b9>CDBE339?>C
X!1F5<?39D1D45@B?35CC1=5>DF5B21<OC5<D5=@CAE55C>535CC9D1@5B@B?35CC1B9>6?B=139TF5B21<
61=9<91B3?=7B1695C94Q79DC

!149C<PH915C4T>11<=1B7545<5C8129<9D1DC9>D5<c<53DE1<C

<b8?B14565B5<4917>UCD93OC=OC145AE1D@1B<1B4bE>3?>D9>E45CQ=@D?=5CAE5F1>45=OC<<5EC1
=OC7B5ECAE54bE>131D57?B913?>3B5D19>?5CDM3<1BAE9>CCT>5<C<Q=9DC5H13D5C
3DE1<=5>D5CB53?>59HAE5>?8981E>1<Q>9149F9CUB913<1B15>DB5D5>9B49693E<D1DC4b1@B5>5>D1D753?=<1
49C<PH919>?D5>9B>5

!5C49693E<D1DCAE5Cb13?CDE=5>1DB?21B1CC?39145C1=2<149C<PH91CT>1<D5B139?>C5>1<7E>C1C@53D5C45<
<<5>7E1D755><13??B49>139T=?DB9E5>3M<3E<=5>D1<5>3?>35>DB139T9@<1>9693139T@5BU31@4b1AE5CD5C
49693E<D1DC45D5B=9>5>E>149C<PH91

 *>2?>9>49314?B45<17B1F5D1D9@5BC9CDP>39145<149C<PH915C@?D?2D5>9B5H1=9>1>D3?=<b1<E=>5
B5C@?>?81B5C@?CD1E>12?>19>D5BF5>39T
!1=9<<?B9>D5BF5>39T@5B@1<c<91B<149C<PH91OC<12?>19>D5BF5>39T@5417U79311=25<C@B?@9CB53EBC?C45<
=5CDB51<b1E<1?@B?@?B39?>1>D5>31C?C=OC7B5ECE>CE@?BD=OC9>D5>C9E9E>11:E411<<1B7D5B=9>9
KC9=@?BD1>DAE51=25<C1<E=>5CAE5B5C@?>7E9>1<19>D5BF5>39T1AE5CD13?>D9>ER@?DC5B1=2=5>IC
9>D5>C9D1D456?B=1AE55C=1>D9>7E95<@B?7BOC

(57?>C5<C5CDE49C=OCB535>DC_5>@1B<11>7<5C1<1@B5F1<5>N15CD9=14145<149C<PH91D?D9AE5F1B91
C57?>C?>5C=1BAE95<<Q=9D5><b1=@<95C@53DB545CQ=@D?=5COC5>DB55<95<


H9CD59H<b5F94P>391AE569<<C45@1B5C1=249C<PH91D5>5>E>1<DB9C345@B5C5>D1B5<=1D59HDB1CD?B>)?D9
19HU<19>F5CD97139TC?2B5<1DB1>C=9CC9T75>PD9315CDM?25BD1

9>1<=5>D<149C<PH91@5BC9CD59H4EB1>D<b14?<5C3P>39195><b541D14E<D1%5BU>?@?45=?2<941BAE5<1
7B1F5D1D45<5C49693E<D1DC45@P>C?F9>D45<1AE1<9D1D9@B53?39D1D1=2AEPCb81794?>1DCE@?BD1<b1<E=>5
D1>D5><bM=29D61=9<91B3?=5><b5C3?<1B



 
 

*>145D5339T@B53?N9E>19>D5BF5>39T45AE1<9D1D %B?2<5=5C7B5EC1>9F5<<6?>?<U793
?>5C8129<9D1DC45<<5>7E1D75?B1< 
129<9D1DC@5B=1>D5>9B<b1D5>39T "1>3145B53EBC?C3?=@5>C1D?B9C
*>2?>CE@?BD61=9<91B95C3?<1B <DB5C49693E<D1DC4b1@B5>5>D1D753?>3EBB5>DC
5D5339T99>D5BF5>39TD1B41>1
>C5>I1=5>D99>D5BF5>39T@?2B5C














<@B9=5B@1C@5B945>D96931BAE5E>1<E=>5@?DD5>9B49693E<D1DC5>5<<<5>7E1D759>3<?5>D89<149C<PH91
OC?2C5BF1BAE5DOE>@B?7BOC@?2B55>3?=@1B139T1=25<>9F5<<45<C3?=@1>IC45<3EBC=1<7B1DB52B5
E>5>C5>I1=5>D45AE1<9D1DF575E@M7`<7E>5C3?>C945B139?>CC?2B5<b1@B5>5>D1D7545<1<<5>7E1


)?DC57E9D5=@<5>1BM5<@B?D?3?<AE53?BB5C@?>7E91<>9F5<<5C3?<1B45<b1<E=>5AE5CDC@B?D?3?<C5CD1>
49CC5>I1DC@5BC5BED9<9DJ1DC1<69>1<45<bD1@1>61>D9<AE1>69>1<9DJ9%5>5<C4965B5>DC393<5C45%B9=MB91
1<b($1DH9<<5B1D993<5C?B=1D9EC

1<=1B31B1=2E>1`-a<1B5C@?CD1145AE1415>3141E>45<CQD5=C(Q#$!b1@1BD1D4b$2C5BF139?>C
@5B=5D=1D9C1B?1=@<91B5<CQD5=CAE55C3?>C945B9>?@?BDE>C

!5CB5C@?CD5C169B=1D9F5C5>5<CQD5=C5>CT>9>49314?BC4b1<DB9C39B5AE5B59H5>9>D5BF5>39T!5C
B5C@?CD5C169B=1D9F5C5><1B5CD14bQD5=CAE5>?5CD1>5>>57B5D19>49AE5>49693E<D1DC1CC?39145CAE5@?45>
5=@9D:?B1B<1C9=@D?=1D?<?7919AE531<4BMD5>9B5>3?=@D55><1@<1>9693139T45<19>D5BF5>39T

*>1F571413?=@<5D1D5<@B?D?3?<95>5<31CAE5Cb8179?2C5BF1D<1@B5CP>3914b9>49314?BC45B9C331<4BM
45B9F1B<b1<E=>51<b5AE9@@C93?@5417U79345<35>DB5?1<1?=9CC9T45<19F5BC9D1D@5BAEPC9CT>1<E=>5C
45<bD1@1>61>D9<993<5>9391<Cb13D9F9>5<C@B?D?3?<C4b9>D5BF5>39T5>1<E=>5C=OC7B1>C31<45D5B=9>1B
C95H9CD59H5>CQ=@D?=5CCE69395>DC4549C<PH919C9OC19HQ65BE>145B9F139T1<b5C@5391<9CD145<<5>7E1D75
@5BAEP5>6139E>4917>UCD934965B5>391<AE53?>69B=9?45C31BD9<19C<PH91



56?B=175>5B1<941F1>D45<5C49693E<D1DC4b1@B5>5>D1D7545<C1<E=>5C31<1CC57EB1BDB5C>9F5<<C4b9>D5BF5>39T



 CDB13D14b5>B9AE9B5<C@B?7B1=5C453<1CC5@5BAEPCEBD9>25>569391DCD?DC5<C
*>5>C5>I1=5>D45 1<E=>5C95>5C@5391<5<CAE5@B5C5>D5>49693E<D1DC>1AE5CD31C31<4B91
@B9=5B1AE1<9D1D 65B E> DB521<< 6?>?<U793 C9CD5=MD93 9 6139<9D1B 13D9F9D1DC 9 5H@5B9P>395C @5B
45C5>F?<E@1B<5C8129<9D1DC45@1B<194b5C3?<D19453?>C39P>3916?>?<U7931
F575E`<7E>5C3?>C945B139?>CC?2B5<b1@B5>5>D1D7545<1<<5>7E15C3B9D1
@B5>4B55<3?49a%M7
  =OC 1 =OC 45 <1 9>D5BF5>39T 45< B >9F5<< 1<7E>C 1<E=>5C B5AE5B59H5>
%5D9D7BE@?9>D5BF5>39T E>CE@?BD144939?>1<AE55C@?D4?>1B5>@5D9D7BE@?1>9F5<<9>49F94E1<
9>49F94E1<9DJ141 <19>D5BF5>39T5C21C15>5<C@B?7B1=5C453<1CC5@5BU5C61><5C13D9F9D1DC
145AE145C9141@D145C@5B1CC57EB1B5<@B?7BOC45<b1<E=>5
 %5B11AE5<<C1<E=>5CAE5B5AE5B59H5>E>1141@D139T@5BC?>1<9DJ14145<
(E@?BD9>D5>C9E @B?7B1=1AE5Cb814b145AE1B1<5CC5F5C49693E<D1DC5C@53Q69AE5C97B5EC
>1AE5CD31C@1B<1BQ5=4bE>@B?7B1=19>49F94E1<9DJ1D% AE55C4EB911
D5B=5456?B=19>D5>C9F194EB1>DE>D5=@C45D5B=9>1D@5B6139<9D1B<b133OC
1<1<<5>7E15C3B9D194?>1BB53EBC?C3?=@5>C1D?B9C11<E=>5C49C<P3D93C45
4917>UCD93D1B4M




%E2<931D@5<5@1BD1=5>D4b>C5>I1=5>D45<1
5>5B1<9D1D451D1<E>I1GGGHD5331D 54E292



<<<5>7E1D755C3B9DOCE>19>F5>39T3E<DEB1<9>?E>@B?3OC>1DEB1<!b5C3B9@DEB1OCE>3?49453?=E>93139T
C?391<AE5DO31B13D5BQCD9AE5C3?=E>931D9F5C@BU@95C96E>39?>C5C@53Q69AE5C@5B1<5C4965B5>DC3E<DEB5C9
3?=E>9D1DC9C5B1>1AE5CD5C@53E<91B9D1DC<5CAE5@?BD1B1>1<CE2:53D519>D5B5CC1BC5@5B1@B5>4B5b<<
<<5>7E1D755C3B9D5>5<CC9CD5=5C1<612PD93CCE@?C11CC9=9<1BE>3?49AE55>1ED?=1D9DJ1B<?5>C@5B=5D
35>DB1B>?C5>1<DB5C1C@53D5C45<=1D59HD5HD

>C5>I1B1<<579B95C3B9EB5CE@?C1D5>9B5>3?=@D5AE1DB549=5>C9?>C<5=5>D5




X(E@?C13B51B@B?@9391B3?>D5HD?C4b1@B5>5>D1D75AE5@5B=5D9>1<>5>3?>CDBE9B5<C5>D9D45AEPOC<b5C3B9@DEB1
3?=15<5=5>D3E<DEB1<@5BCEC39D1B5<C5E45C974b1@B5>4B51<<579B9=?CDB1B<9<5C6E>39?>C45<<<5>7E1D75
5C3B9D>1AE5CD16E>39?>1<9D1D>?89CT>1<95>5C<1<53DEB19<b5C3B9@DEB15><5C>?F5CD53>?<?795C45<1
9>6?B=139T945<13?=E>93139T1<3B51BE>3?>D5HD145AE1D@5BD1<AE5<b1@B5>5>D1D75C97E9C97>96931D9E


X#?=5>IC9=@?BD1>DAE53B51B<97ECD@5B<1<53DEB1OC@?BD1B<?13?=@B5>4B5AE55<<<5>7E1D755C3B9D
OCE>C9CD5=1453?=E>93139TE>16?B=14b5H@B5CC1BC53?=8?CT>5<:?35<492E9H95<<<5>7E1D75
?B1<AE5CT>6?B=5C@B54535CC?B5C45<<<5>7E1D755C3B9D9HUCE@?C165B<931@D1BAEPOC5<<<5>7E1D75
5C3B9D9AEP@?D5H@B5CC1B89


X@B5>4B51<<579B5>5<C9CD5=11<612PD93@?BD19=@<Q39DCE>1CPB9545@B?35CC?CC9>7E<1BC4b1AE5CDC9CD5=1
4b5C3B9@DEB15>31=9>1D13B51BF95CAE5@5B=5D5>3?>F5BD9B5<@B9>39@91>D5>E><53D?B5H@5BD45C@BOC
4b81F5B13?>C57E9DAE51CC9=9<991ED?=1D9DJ95<3?491<612PD93

%5B19HUE>1<DB545<C?2:53D9ECC5BM1:E41B<b9>61>D1CE@5B1B1AE5CDC@B?35CC?C1=2D?D1<16139<9D1D9
5693M391AE5CD13?>4939TOC3<1B1=5>D9>CE69395>D@5BC5B<53D?B@5BUC9>?5C3?=@<59H>?C5b>@?D
C5B%B9=5B@5BAEPOC<b5CCP>391=1D59H145<C9CD5=11<612PD939C57?>@5BAEPC9E><53D?B8145454931B
5C6?BN?C165B1AE5CDB53?>59H5=5>D@B9=1B9C57EBAE5>?@?4BM@?BD1B1D5B=5<5CC57W5>DC?@5B139?>C
=OC3?=@<5H5C3?=OC<1453?=@B5>4B55<AE55C<<5759HKC5>1AE5CD149=5>C9TAE55<C>5>C49C<P3D93C
@B5C5>D5><5C49693E<D1DC9?>Cb8145D5>9B=OC3EB1@5B1CC57EB1B>5<b1@B5>5>D1D75

>7<?215<CC57W5>DC@B?35CC?C

?<b8129<9D1D@5B@5B352B5945>D96931B9=1>9@E<1B5<C?>C_6?>5=5CAE5
6?B=5><5C@1B1E<5CKCE>DB521<<D?D1<=5>D1E49D9E9OC@B5F91<b5>C5>I1=5>D45<13?BB5C@?>4P>391
C?7B169121>CAE55<C>5>C1@B5>7E9>15C3B9EB591<<579B81>45D5>9B3?>C39P>39145<CC?>CAE5
81EB1>45C125B`B5@B5C5>D1Ba1=2<5C7B1695C%5BE>121>41<5C9>F5CD97139?>C1CC5>I1<5>AE5<5C
4965BP>395C9>49F94E1<C5>1AE5CD31=@CT>=OC@B5493D9F5C45<7B1E4bPH9D1<3?=5>N1=5>D45<b1@B5>5>
D1D7545<1<53DEB1AE5AE1<C5F?<1<DB18129<9D1D3?7>9D9F1?45<<5>7E1D759@5BE>11<DB1AE51=2E>
CE@?BD9>CDBE339?>1<145AE1D5C@?D=9<<?B1B<13?>C39P>3916?>?<U793145=?<DC9>61>DCAE5@B5C5>D5>
49693E<D1DC1<b8?B14545C3?2B9B<5C3?>F5>39?>C45<@B9>39@91<612PD93456?B=1`>1DEB1<a%5BD1>DOC
=OCAE5:ECD96931DAE55CD9>7E9@B5C5>D45C5>F?<E@1B1AE5CD18129<9D1D1<b8?B14b9>9391B<b1@B5>5>D1D75
45<1<<5>7E15C3B9D1
 !b1@B5>5>D1D75 Cb9>9391 1 %  1@B5>4B5 1 5C3?<D1B B9=5C 3?>D9>E1 1% DB521<< 1=2 <1 CQ<c<121 9
69>1<9DJ11=97%3?>C39P>3916?>?<U7931?DB521<<1=25<C6?>5=5C


45<1<<5>7E1?B1<139<9D11<C>5>C<b1@B?@9139T45<
3?491<612PD93B53?>59H5=5>D45<5C7B1695C8129<9D1DC45@5B35@39TF9CE1<949B5339?>1<9D1D45C3?496931B
93?496931B8129<9D1DC4b1>M<9C99CQ>D5C9@1B1E<5C96B1C5C
!b1@B5>5>D1D75Cb9>9391169>1<C45%95C45C5>F?<E@11 B4593<5>9391<

>1AE5CD1C@53
D5D?D9AE55<B53?>59H5=5>D1ED?=MD9345<5C@1B1E<5C@?DC5BE>31=Q>?OCCE69395>D3DE1<=5>D
5CDB1DP795C3?=<1<53DEB11<E=>514E<D<b14E<D<<5759H@B9=5B945C@BOC5<>5><<579B:E>DC<<579B3?>:E>
D1=5>D4?C3?=@1>ICE>=9<<?B<53D?BAE5<b1<DB5<53DEB11CC9CD941@5B=17>5DU6?>5<>5>F1<<579>D
E>D5HD=5>DB55C3?<D13?=8?61E><53D?B6<E5>D@5<=17>5DU6?><53D?BC45D5HD5D3@?45>1:E41B
145C5>F?<E@1B1AE5CD18129<9D1DAE561BMAE55<C>5>C17169>7ECD@5B<1<53DEB19<<5759H9>=OC
C45C5>F?<E@15>DB5 B9 >4593<5>9391<




`$B975>95F?<E39T45<<<5>7E1D755C3B9DE>39?>C95>6?31=5>D45<b5>C5>I1=5>Da
>V= @M7   


 91@1BD9B45<AE1<<b1<E=>5@E7E921C1B<5CC5F5C5CDB1DP795C@5B1=@<91B<?
><b5D1@19>61>D9<OC9=@B5C39>492<54?>1B@B565BP>3911<5C8129<9D1DC3?=E>931D9F5C9<9>7WQCD9AE5C@5B
C?2B545<5C49B53D1=5>DB5<139?>145C1=2<b1@B5>5>D1D7545<1<<5>7E15C3B9D1"1<7B1DAE51AE5CD
OCE>D5=145<931DAE5Cb81EB9145=1D9C1B3B595=45<D?D>535CC1B9AW5CD9?>1B<b9=@13D513DE1<45<1
@B?6EC9T45@BM3D9AE5C4EB1>D<b5D1@19>61>D9<49B53D1=5>D14B5N145C1<b1@B5>5>D1D7545<1<53D?5C3B9@
DEB15>45DB9=5>D45F5D<<1B9@B?=?EB5C9=@<5=5>DE>2?>45C5>F?<E@1=5>D45<1<<5>7E1?B1<95<
7ECD@5B1<13?=E>93139T#?5C@?D?2<941BAE55>4569>9D9F1<1<<5>7E15C3B9D1OCE>1B5@B5C5>D139T
45C57?>?B4B545<1<<5>7E1?B1<9AE55<C@B?35CC?C9=@<931DC5><1C5F114AE9C939T45C3?49693139T9
945>D9693139T45<1@1B1E<15C3B9D193?=@B5>C9TB5@?C5>:ECD1=5>D5>E>2?>45C5>F?<E@1=5>D45<1
<<5>7E1?B1<


X9>1<=5>D85=453?>C945B1BAE55<4?=9>94b1AE5CDC@B?35CC?C@B9=1B9C>?OC<169>1<9D1D45<1<53DEB1
%B539C1=5>D1ED?=1D9DJ1B<?COC<171B1>D91AE56139<9D9>9>?@5BD?B29><169>1<9D1D@B9>39@1<AE5OC<1
3?=@B5>C9T45<CD5HD?C!<579BOC3?=@B5>4B5:E41B1<C1<E=>5C14?=9>1B5<C@B?35CC?C6?>1=5>
D1<C453?=@B5>C9T9@B?4E339T45D5HD?COCE>@E>D3<1E5>E>@B?3OC9>D57B1<45<b5>C5>I1=5>D45<
<<5>7E1D755C3B9D45C45<C5E9>939

?=@B5>4B5OC=?<D=OC3?=@<5HAE51AE5<<@B9=5B3?>59H5=5>D45<3?499CE@?C1E>1CPB954b1C@53D5C
AE5D5>5>1F5EB5D1>D1=2<b5CDBE3DEB145<=1D59HD5HD3?=1=25<C3?>59H5=5>DC@B5F9CAE51@?BD1
<b1<E=>5

)?D9AE5<b133OC1<b1@B5>5>D1D7545<1<<5>7E15C3B9D15C@?D65B@5B4965B5>DCF95COC9=@?BD1>D1F1<E1B
<b1CC?<9=5>D45<C@B?35CC?C5><5C541DC145AE145C45<C>?CDB5C1<E=>5C@5B1@?45B6139<9D1B5<C5E45C5>
F?<E@1=5>D5>31CAE5@B5C5>D9>49693E<D1DC>1AE5CDC5>D9D4EB1>D<b5D1@19>61>D9<#$(%$'^'
#'*##h()(!e-@5BUCQAE55C@?4B1>?2C5BF1B9>49314?BC45@?CC92<5C49693E<D1DC
@5B45C5>F?<E@1B<b1@B5>5>D1D7545<1<<5>7E15C3B9D19@?45B65BE>19>D5BF5>39T@B5F5>D9F1

KC1@1BD9B4569>1<C45<93<5>9391<AE1>31<4BM49B979B5<C>?CDB5C5C6?BN?C145C3?2B9BAE9>5C@?CC929<9D1DC
D5>5>5<C>?CDB5C1<E=>5C@5B65B1AE5CD1@B5>5>D1D759@5B1CC57EB1B<b1CC?<9=5>D45<5C=1DPB95C3EBB93E<1BC
@5B1<DB5CF95C5>31CAE5<1<<5>7E15C3B9D1>?5<CC97E96E>39?>1<


%B?D?3?<4b?2C5BF139T@5B145D53D1B9>49314?BC
45<149C<PH915><b54E3139TC53E>4MB91

  
  


   

"1BAE5E(f?#$C57?>C3?BB5C@?>7E9

















































#)'%')g'(*!))(
!5CB5C@?CD5C169B=1D9F5C5>5<CQD5=C5>CT>9>49314?BC4b1<DB9C39B5AE5B59H5>E>19>D5BF5>39T
!5CB5C@?CD5C169B=1D9F5C5><1B5CD14bQD5=CAE5>?5CD1>5>>57B5D19>49AE5>49693E<D1DC1CC?39145CAE5@?45>
5=@9D:?B1B<1C9=@D?=1D?<?7919AE531<4BMD5>9B5>3?=@D55><1@<1>9693139T45<5C5CDB1DP795C4b9>D5BF5>39T




X>1AE5CD15D1@1<b1<E=>5 1:181EB9145D5>9BE>4917>UCD9345(!e-

X(9>?OC19HQ95<@B?65CC?B DED?B45D53D1@B?2<5=5C9=@?BD1>DC5><13?=@5DP>39145<1<<5>7E15C3B9D1
D1>D5><1<53DEB13?=5><b5C3B9@DEB181EBM4b5=@<5>1B5<@B?D?3?<4b?2C5BF139T9C931<49C@?C1B4bE>
4917>UCD934965B5>391<@5B45C31BD1B?3?>69B=1B5<DB1CD?B>459C<PH91

X>5<31CAE55C3?>69B=9><5C49693E<D1DC5><1<<5>7E15C3B9D131<4BM13DE1B5>E>4?2<5C5>D9D
<=OC9=@?BD1>D65B<5C141@D139?>C=5D?4?<U79AE5C@5BD9>5>DC13141=1DPB91@5B1CC57EB1B>55<
C5E1@B5>5>D1D755>31B1AE5<b1<E=>5>?49C@?C945<CB53EBC?C45<1<<5>7E15C3B9D13?=E>=9D:M@5B

%5B1<DB121>413?>D9>E1BB56?BN1>D<b1@B5>5>D1D7545<1<<5>7E15C3B9D194?>1>D5CDB1DP795C1<b1<E=>5
@5BD1<AE51AE5CDB53EBC<9C97E96E>39?>1<

XCB53?=1>14?>3C
 B5AE5B59HAE5<b1<E=>5D9>7E9E>CE@?BD144939?>1<_49>C?6?B145<35>DB5
54E31D9E@5B13?>C57E9BE>1<53DEB19E>15C3B9@DEB15<=OC6E>39?>1<C@?CC92<5AE5CDCE@?BD5C@?D
4?>1B5>@5D9D7BE@?1>9F5<<9>49F94E1<
     B5AE5B59H 4bE>1 141@D139T @5BC?>1<9DJ141 45 <1 6?B=1 4b133OC 1<C 3?>
D9>7EDC3EBB93E<1BC9D1=2O5>1<7E>C31C?C45<b145AE139T4b1AE5CDC>1AE5CD31C@1B<1BQ5=4bE>
@B?7B1=19>49F94E1<9DJ1D%AE55C4EB911D5B=5456?B=19>D5>C9F194EB1>D5<D5=@CAE531<7E9@5B
6139<9D1B5CDB1DP795C9B53EBC?C3?=@5>C1D?B9C1<b1<E=>549C<P3D93971B1>D9B<b1CC?<9=5>D45<C?2:53D9EC
3EBB93E<1BC

 

 X5BC125B1<b1<E=>5AE53?>59H5=<5CC5F5C49693E<D1DC5>C9>D5B5CC5=@5B
5<< 19<b1:E41B5=5>5<@B?3OC4b1@B5>5>D1D75@5BD1<AE5D9>7E9<5C=1D59H5C
?@?BDE>9D1DCAE55<C3?=@1>IC
X '53?>P9H5B <5C 49693E<D1DC 45 <b1<E=>5 >? F?< 49B 5H9=9B<? 45 <5C C5F5C

X ?=@B5>4B5 AE5 @B5C5>D1B 49693E<D1DC 5> 5< <<5>7E1D75 5C3B9D @?D @B?F?31B
6BECDB139?>C5CDBPC@B5CC9T931>C1=5>DAE5@?45>3?>4E9B<b1<E=>5113D9DE4C
@?3145AE145C
X%?D5>391B<b1ED?5CD9=19B53?>P9H5B5>@V2<935<CC5ECPH9DC
X%?C1B5>=1BH1D?D5C<5C13DE139?>C>535CCMB95C@5BAEP<b1<E=>5>?F9CAE9<5C
C5F5C49693E<D1DC3?=E>6B13MCB5C@53D1B5<C5EB9D=56139<9D1B<9<5CD1CAE5C
C5AW5>39145C5>@1CC?CB53?>P9H5B5<CC5EC1F5>N?C>?65B<?<<579B5>F5E
1<D141F1>D45<7BE@
X=61D9DJ1B1<<UAE55<>?9 1612O1<13<1CC53?CDE=5>1C5B@5BC?>5C1=2
=?<D19=179>139T93B51D9F9D1D?>1B<b?@?BDE>9D1DAE545CD1AE9>5>1<<UAE5

XF9D1BC9DE139?>CAE55<459H9>5>5F94P>39141F1>D45<C1<DB5CB1@945C1453M<3E<
5C3B9EB51<1@9CC1BB13?BB579B<5C61<D5C1=2E>3?<?B5CDB945>D5D3
 X1<2EC31B<19=@<93139T45<161=Q<919>6?B=1B<145<5C49693E<D1DC94?>1B1
3?>P9H5B<5C5CDB1DP795C9@1ED5CAE5C5C57E9B1>1<35>DB554E31D9E@5B6139<9D1B
5<@B?7BOC45<C5E69<< 1
X139<9D1B?B95>D139?>C@5BAEPC57E59H9>=1>D5>9>D<1=?D9F139T45<CC5EC69<<C
@5B<1<53DEB19AE51AE5CD1C97E9E>113D9F9D1D7B1D96931>D
 !b16939T <53D?B1 OC E>1 49C@?C939T 41F1>D <1 F941 AE5 Cb1@BP> KC =OC 6M39<
AE55<C69<<CCb9>D5B5CC9>@5B<1<53DEB1C95<C@1B5C9>D5BF5>5>13D9F1=5>D5>5<

 XKCB53?=1>12<59>6?B=1B1<C3?=@1>IC45<5C49693E<D1DC45<53D?5C3B9@DEB1
AE5@B5C5>D1<b1<E=>5
X1<DB521<<1B1<b1E<191=2D?DC5<C1<E=>5C5<B5C@53D51<149F5BC9D1D
 X)?D<b5AE9@4?35>D8145DB521<<1B456?B=13?>C5>CE14193??B49>141@5B
D1< 45 B51<9DJ1B <5C 141@D139?>C =5D?4?<U79AE5C @5BD9>5>DC 5> <5C =1DPB95C
3EBB93E<1BC<DED?B>bOC5<B5C@?>C12<5
X5B3?>P9H5B1D?D<b5AE9@4?35>D5<DB1CD?B>45<b1<E=>59AE5@?D@?BD1B1CC?391D
1<DB5C49693E<D1DC45D9@EC5=?39?>1<3?=@?BD1=5>D1<?4b1@B5>5>D1D75C
X?>C395>391B<b5AE9@4?35>DAE5<149C<PH91>?D1>C?<C1653D11<5C=1DPB95C45<
3EBBQ3E<E=C9>T1<DB5C1C@53D5C3?=1B1<b?B71>9DJ139T9@<1>9693139T



 

 X>D5>D1B>?ED9<9DJ1B<5C5H@B5CC9?>C`5C6?BN1bD=OCa`69H1Db89a!1=1:?B9145<C
 1<E=>5C1=29C<PH91Cb5C6?B35>@5BU>?13?>C57E59H5>5<CB5CE<D1DC45C9D:1DC
 9@5B1AE5CD=?D9E@5B45><b9>D5BPC9<1=?D9F139T
X1<C5B6<5H92<55>D?D1<<UAE5F1B5<139?>1D1=25<C5E4P6939D?2<941B3?C5C
AE5121>CC1291<<579B=1<1=5>D3?=5DB5=?<DC5BB?BC?BD?7BM693C
XF9D1BC9DE139?>CAE55<459H9>5>5F94P>39141F1>D45<C1<DB5CB1@945C1453M<3E<
5C3B9EB51<1@9CC1BB13?BB5339T4bE>D5HD@5B@1BD4bE>3?=@1>I1CC5>I1<1B
<5C61<D5C1=2E>3?<?B5CDB945>D
 XF9D1B4?>1B=?<D5C?B4B5C?B1<C1<=1D59HD5=@
 X!5C9>CDBE339?>C5C3B9D5C81EB95>45C5B3<1B5C93?>39C5CF9D1B<bVC4b9>CDBE339?>C
5C3B9D5C=1CC1<<1B7E5C9C5AW5>39145C5>=?<DC@1CC?C
 X%B5C5>D1B5<C3?>D9>7EDC3EBB93E<1BC1=2CE@?BDCF1B91DCF9CE1<C9 ?1E49D9EC
5CAE5=5C=1@5C3?>35@DE1<C@?G5B@?9>DC4?3E=5>D1<C@5<c<Q3E<5C@9CC1BB1
4979D1<1=2=EB1<C9>D5B13D9EC
X139<9D1B1<b1<E=>5<1ED9<9DJ139T45<5C)<53D?BC9>6?B=MD93C
X%B?@?B39?>1B1<b1<E=>5<<92B5C145AE1DC1<C5E>9F5<<<53D?B
X%?D5>391B<bVC45<131<3E<14?B15>D?D1<b5D1@145<b($
X'53?=1>1B<13?>CDBE339T4549339?>1B9C@5BC?>1<9DJ1DC94979D1<9DJ1DC
XiC45<<92B5C4979D1<9DJ1DC


'56?BN1=5>D X1<E>11339TDED?B91<3?>D9>E141@5B=1>D5>9B<b9>D5BPC9<1=?D9F139TF5BC5<C

>C5>I1B8129<9D1DC X1<35>DB1B<b5>C5>I1=5>D5>5<45C5>F?<E@1=5>D4b8129<9D1DCVD9<C9DB1>C65B92<5C
=OCAE55>4?>1B=?<D19>6?B=139TAE55C45FO9>>535CCMB919AE5<b1<E=>5

X61F?B9B<b1@B5>5>D1D75C97>96931D9E9F9F5>391<
"5D13?7>939T XCDB13D1AE5<b1<E=>5D9>7E93?>C39P>39145<5CC5F5C49693E<D1DC9@E7E91@<931B
5CDB1DP795C453?=@5>C139T91ED?BB57E<139T


>C5>I1B XCC57EB1B>?CAE5<13?=@B5>C9T>?5CDM3?=@B?=5C1@5B<16?31<9DJ139T45
6<ER45C19@B539C9T <1C5F11D5>39T5><145C3?49693139T45@1B1E<5C
X%B?3EB1BAE5>?<<5759H95>F5E1<D141F1>D45<C3?=@1>IC456?B=19=@B?F9C141
XF9D1BAE5<b1<E=>5<<5759H95>@V2<933?>DB1<1C5F1F?<E>D1D
X?>1BCE@?BDC9>6?B=MD93C3?=1B1<53D?BC9>6?B=MD93C
>C5>I1BF?312E<1B9 X:E41B5><1<53DEB14bE>D5HD6139<9D1>D5<C97>96931D45<F?312E<1B9>?EAE5891@1B59H
DP3>939 ?>?E X>D5>D1B1:ECD1B5<CD5HD?C1<C5EB5>49=5>D<53D?B=OC2B5EC91=2E>F?312E<1B9
1<b121CD45<b1<E=>5 1
X(5<5339?>1B5<CD5HD?C4b13?B41=25<C3?>59H5=5>DC@B5F9C45<b1<E=>5
X$65B9B5H5B3939C1<D5B>1D9EC5>5<31CAE55C45D53D9>49693E<D1DC9=@?BD1>DC
>C5>I1B13?=@B5>4B5 X3D9F1B5<C3?>59H5=5>DC@B5F9C1<1<53DEB1
X:E41B165B9>65BP>395C@B5493D9F5C99>D5B@B5D1D9F5C
X*D9<9DJ1B<13?>F5BC1C?2B5<1<53DEB1121>C45<<579B
X?>DB?<1B<13?=@B5>C9T<53D?B14EB1>DD?D5<@B?3OC<53D?B>?>?=OC1<69>1<45
<1<53DEB1
>C5>I1B<b5H@B5CC9T X>C5>I1B15CDBE3DEB1B5<CD5HD?C454965B5>DCD9@?<?795C45C3B9@39T>1BB139T
 5H@?C939T1=25CAE5=5C@B545D5B=9>1DC9ED9<9DJ1>D6B1C5C3EBD5C@5BU25>
3?>CDBER45C91=2D?DC5<CC5EC5<5=5>DC
X139<9D1B@<1>D9<<5C1=25<C3?>>53D?BC14F5B29C14:53D9ECAE5@?45>6139<9D1B
5CDBE3DEB1B5<CD5HD?C5C3B9DC
X #? 3?BB579B 45 6?B=1 C9CD5=MD931 D?DC 5<C 5BB?BC ?BD?7BM693C 45 <1 C5F1
5C3B9@DEB1
XF9D1BAE5<b1<E=>58179453?@91B45<1@9CC1BB196139<9D1B<9AE1>C97E9@?CC92<5

X>D5>D1BAE5>?817945D?B>1B5C3B9EB5C?2B55<6E<<5<C5>E>391DC45<<<92B5
X?>1B<9D5=@C144939?>1<@5B3?=@<5D1B<5C13D9F9D1DC
X %5B=5DB5 <1 @B5C5>D139T 45<C DB521<<C 65DC 1=2 <b1:E41 45 <b?B49>14?B 9 5<
3?BB53D?B45D5HD?C



 

 X:E41B<?5><175CD9T45<D5=@C
 X9C@?C1B4bE>31<5>41B91<b1E<11=2<5C41D5C45<5C@B?F5C4b1F1<E139T945
 <<9EB1=5>D945@B?:53D5C?DB521<<C161F?B9>DAE55>DB55<<C898179E>5C@19
 
X1F1>D45<5C49693E<D1DC4b1D5>39T9 ??B71>9DJ139T@5BC?>1<@?45BED9<9DJ1BE>
C9CD5=11=21ED?9>CDBE339?>C4b?B71>9DJ139T@5BC?>1<
XB1339?>1B5<DB521<<5>@5BQ?45C3EBDC@5BU9>D5>C?C@5B5F9D1B5<31>C1=5>D9
161F?B9B<13?>35>DB139T
X 5B E> C57E9=5>D 45 <b175>41 $65B9B <1 @?CC929<9D1D 45 3?>CE<D1B <b175>41
5<53DBU>93145<C5E3EBC
X(9OC@?CC92<51:E41B5><b?B4B59<13<1CC9693139T45<5C659>5C65D5C
X'54E9B<b5H3OC4545EB5C5>5<3?>:E>D45<5C1CC97>1DEB5C5F9D1>D13D9F9D1DC
B5@5D9D9F5C9 ?3?=@<5=5>DMB95C@5BU>?9=@B5C39>492<5C
X?>1B<9D5=@C5HDB1@5B3?=@<5D1B<5C13D9F9D1DC


 

 X1<D5>9B5>3?=@D5<1E293139T49>C<b1E<19@B?3EB1BAE5<b1<E=>55CD97E91@B?@
 
X9C@?C1B4bE>31<5>41B91<b1E<11=2<5C41D5C45<5C@B?F5C4b1F1<E139T945
<<9EB1=5>D45@B?:53D5C?DB521<<C161F?B9>DAE55>DB55<<C898179E>5C@19
X)5>9BE>31<5>41B9F5B21<9D1=2OF9CE1<@5>:1D1<b1E<1@5B6139<9D1B<b?B71>9DJ139T
9@<1>9693139T45<D5=@C
 X !b5AE9@ 4?35>D 81 45 DB521<<1B 45 6?B=1 3??B49>141 @5B @B5F5EB5 41D5C
 4b5HM=5>C4b5>DB57145@B?:53D5C?45DB521<<C1=2<169>1<9D1DAE5>?C5
C?<1@9>9AE549>5C@191DC5>5<D5=@C
X?>1B13?>P9H5B<5C41D5C45<C5HM=5>C1=21>D5<139T
XF9D1BAE5<b1<E=>5D9>7E9=OC4bE>5H1=5>@5B4919=OC454?C@5BC5D=1>1
X*>3?@3?=5>N1D<b5H1=5>45=1>1BC9>535CC9D1AE5<9<<579=?B1<=5>D<5C
@B57E>D5C
X F9D1B @B57E>D5C =?<D <<1B7E5C 5> E> 5H1=5> 9 @B57E>D5C ?25BD5C ?> 31<
?B71>9DJ1B<5C9455C95H@B5CC1B<5C?B45>141=5>D@5B5C3B9DOC=9<<?BED9<9DJ1B
@B57E>D5C3?>3B5D5C
XF1<E1B5<C5HM=5>C9DB521<<C5>6E>39T45<3?>D9>7ED9>?45<16?B=1
X?>D5=@<1B<1@?CC929<9D1D45B51<9DJ1B5HM=5>C?B1<C?1=26?B=1D=OCF9CE1<
X%5B=5DB5AE5@E7E93?=@<5D1B<5C@B57E>D5C45<b5H1=5>=9D:1>N1>D492E9H?C
?7BM693C
XF9D1BAE5<5C61<D5C4b?BD?7B16911<C5HM=5>C219H9><1>?D169>1<?2OAE5
C97E9>=?D9E45CEC@5>C
X*D9<9DJ1B3?<?BC1<D5B>1D9EC1<F5B=5<<5><5C3?BB5339?>C5<C1<E=>5C@?45>
B5<139?>1B1AE5CD3?<?B1=25<6B13MC
XCC57EB1B>?C454?>1B5<D5=@CAE5>535CC9D5>@5B45=?CDB1B1<<UAE5C125>9
>?65B<?CDB521<<1B456?B=1@B539@9D141945C3E94141@5B13121B<5CD1CAE5C5>

X%B5C5>D1B<5C@B57E>D5C4b5H1=5>@5B5C3B9D=19493D145C
X%<1>5:1B9D5>9B5>3?=@D51<D5B>1D9F5C4b1F1<E139TDB521<<C@B?:53D5C@?G5B

XF9D1B65B@B?F5C7<?21<C45<5C1CC97>1DEB5C5><5CAE1<C<b1<E=>5DO1F1<E139?>C

X 61F?B9B AE5 @E7E9> @B57E>D1B 1< @B?65CC?B 5<C 4E2D5C AE5 D9>7E9> 5> 5<C
5HM=5>C
XF9D1B5HM=5>C45B5C@?CD1=V<D9@<5


 



!53DEB1 X(5B3?>C395>DCAE5<13?=@B5>C9T<53D?B1=?<D5CF57145C5CDM3?>4939?>141
@5B<5C49693E<D1DC4545C3?49693139T
X!b1=@<9139T45<C5EF?312E<1B9DP3>935CDM3?>4939?>141@5B<5C49693E<D1DC45
<1<53DEB1@5B<1AE1<3?C15CB53?=1>15<12?B1B49339?>1B9C@5BC?>1<9DJ1DC
@5B5>B9AE9B5<F?312E<1B9
XCC57EB1B>?CAE5815>DPC5<C5>E>391DC
X#?6?BN1B1<<579B5>F5E1<D1
X(98145<<579B5>F5E1<D113<1CC54?>1B<95<D5HD45<1<53DEB11=21>D5<139T
X?>1B5<D5=@CAE531<7E9@5B<<579B
C3B9@DEB1 X )5>9B 5> 3?=@D5 AE5 <1 3U@91 C9CD5=MD931 4b5BB?BC 4b?BD?7B1691 >? 6139<9D1
<b14AE9C939T45<1>?B=1?BD?7BM6931
X>D5>4B5AE5@B5C5>D99>D5B65BP>395C5>DB5D?D5C4E5C<<5>7W5C31D1<M31CD5<<M
X?BB579BV>931=5>D<5C61<D5C4b?BD?7B1691AE5Cb5CD97E9>DB521<<1>D13<1CC5?
<5C@BPF91=5>D@13D145C1=2<b1<E=>5
?=@B5>C9T45D5HD X41@D1B5<3?>D9>7ED45<D5HDC9=@<96931>D5<F?312E<1B99 ?<b5CDBE3DEB1C9>DM3D931
X(E2B1D<<1B<5C@1B1E<5C3<1EC45<D5HD?1AE5<<5CAE59>49AE5>9>CDBE339?>C
XB17=5>D1B5<D5HD945C@BOC453141@1BD16579B<5C@B57E>D5C453?=@B5>C9T
AE56139>B565BP>39111AE5<<6B17=5>D
X5CD131B5<C@1BM7B16C?>@?DDB?21B<19>6?B=139T=OCB5<<5F1>D
XF9D1B<5C@B57E>D5C45C5<5339T=V<D9@<5?45B5C@?CD1?25BD1
X%5B=5DB5<9AE549C@?C945<17B1F139T45<D5HD5>ME49?5>5<C5HM=5>C45
3?=@B5>C9T<53D?B1?ED9<9DJ1B<53D?BC4979D1<C
X?>1B<9=OCD5=@C@5B<<579B5<CD5HD?C
!<92B5C45<53DEB1 X'54E9B9 ?5C3?<<9B145AE141=5>D5<C<<92B5C45<53DEB1?2<971DUB91D5>9>D5>
?2<971DUB91 3?=@D55<C5E6?B=1D9<b9>D5BPC45<>?9 1
X%B?3EB1BAE55<C<<92B5C5CD97E9>141@D1DC1<C5E>9F5<<<53D?B
X%5B=5DB5AE55>E>5H1=5>453?=@B5>C9T<53D?B1D9>7E91=M5<<<92B545
<53DEB1?5<=1D5B91<AE55<<@BPF91=5>D81795<12?B1D
X%5B6139<9D1B<1<53DEB15C@?D1>D939@1B5<D5=1<b1B7E=5>D5<B5CE=
 X +1<?B1B5<@B?3549=5>D45<1B5C?<E39T45<@B?2<5=19>?5<CB5CE<D1DC45<5C?@5B139?>C
X%5B=5DB51<b1<E=>5<bVC45<131<3E<14?B1D1>D13<1CC53?=1<C5HM=5>C
XCC5>I1<1B<5C@1B1E<5C3<1E45<C@B?2<5=5C
X%5B=5DB5<9D5>9B1<1F9CD1<5C6TB=E<5CD1>D13<1CC53?=1<C5HM=5>C
X1<AE5D9>7E95<<<92B545D5HD?1@E>DC1=M@5B3?>CE<D1B4E2D5C
 X5BE>7E9T1<1@9CC1BB11=25<3?>D9>7ED45<D5=1AE55CDB13D1BM
 XKCB53?=1>12<51>D939@1B5<F?312E<1B95C@53Q69345<1=1DPB91
X%<1>D5:1B@B57E>D5C3?>3B5D5C945B5C@?CD13EBD1
X'54E9BF?312E<1B91314P=93
X#?D5>9B5>3?=@D55<C5BB?BC4b5H@B5CC9T5C3B9D194b?BD?7B16911<b8?B145
3?BB579B<b5H1=5>
X5BB56<5H9?>1B<b1<E=>5C?2B55<AE5C1@95<AE51@B5>4BM
X(b814565BE>DB521<<4b5CDB1DP795C4b1@B5>5>D1D75@5BD1<AE5<b1<E=>5
45C5>F?<E@9E>=1:?B7B1E4b1ED?>?=91
X?=5>D1B96139<9D1B<1945>D9693139T95<CE2B1D<<1D45@1B1E<5C93?>35@D5C3<1E
49>C4bE>5>E>391D?D5HD
X<12?B1B=1@5C3?>35@DE1<45<CD5=5CAE58?@B539C9>
X)5>9B3?=1CE@?BD5>5<C5HM=5>C5<F?312E<1B9DP3>9395C@53Q69345<1

 XCC5>I1<1B5<C?2:53D9EC=Q>9=C@5B1<b1@B5>5>D1D7545<F?312E<1B997B1=MD931
X%B9?B9DJ1B<1@B?4E339T?B1<
X%5B=5DB5<9 D5>9B <5C B57<5C 4b5CDBE3DEB139T 7B1=1D931< 9 5<C 5CAE5=5C 45<C

X >9F5<< 5C3B9D  <9 3?CD1 14AE9B9B <5C 5CDBE3DEB5C =?B6?C9>DM3D9AE5C 1< AE5
ED9<9DJ9<5C2MC9AE5C9C9=@<5C
X#?3?BB579B5BB?BC5>@1B1E<5C9BB57E<1BC
X139<9D1B<b14AE9C939T9<1ED9<9DJ139T4bE>F?312E<1B92MC93
X'54E9B<1AE1>D9D1D45<<92B5C45<53DEB1?2<971DUB919141@D1B<?C1<C5E>9F5<<<53D?B
X%B?@?C1B1<DB5C=1>5B5C4b1@B5>4B531>N?>C@5<c<Q3E<5C]
X%5B=5DB5<9AE5ED9<9DJ9<53D?BC9>6?B=MD93C




!-#',(!#'$#()#)"

`EBB5>D(D1DEC?6DB51D=5>DC6?B4IC<5H913B9D931<B5F95Ga?EB>1<?6
89<4#5EB?<?7I 
')(`&E9>353E5CD9?>5C2LC931CC?2B5<149C<5H91a?>65B5>391
! "$'(')*


 `9C3B9=9>139T>1E49D9F1I1>L<9C9C45<?C3?=@?>5>D5C6T>93?C45<1C@1<12B1Ca
F?<+>\   
'+'.*!

`!19>D5BF5>39T><?7?@O49315><?CDB1CD?B>?C6?>?<T793?C45C455<@1B1497=1@C93?<9>7WQCD93?
 (E@< (  
'+'  .*!    `?=@1B139T> 45 @B?7B1=1C @1B1 5< 45C1BB?<<? 45 <1 3?>395>391 6?>?<T7931a 
>\ 
'+'.*!

`+1<?B139T>45<B95C7?4549693E<D145C451@B5>49J1:545<1<53DEB15>>9S?C3?>DB1CD?B>?C
45<<5>7E1:5a 

$''"."K#/ `%1@5<45<16?>?<?7Q15><1@B5@1B139T>45<?C>9S?C@1B1<1<53DEB1I<15C3B9DEB1a
F?<->\



 `"?45<?C45<53DEB1I49C<5H91a  
 `!53DEB1I5C3B9DEB145@1<12B1C1DB1FOC45<1BED16?>?<T7931a 
  C3E5<15C@1S?<1
*)$($"f#*/"'.+" `965B5>391C9>49F94E1<5C5>5<@B?35C1=95>D?<OH93?a
  


,?<D5BC <EG5B
'#d#/'$)!


$#/d!/%$')!"


$#/d!/+!#/*!"[$(K 



"K#/ `45>D9693139T>45CE2D9@?C49C<OH93?C5>E>1?BD?7B16Q1DB1>C@1B5>D5a%B?I53D?459>F5CD97139T>@B5
C5>D14?1<1?@?C939T>13LD54B145E>9F5BC9414*>9F5BC941445!17E>1
!#'! ,""'')* `)859=@13D?6?BD8?7B1@8933?>C9CD5>3I?>4IC<5H915B=1>>7<9C8
   
!.$#'(.,)/

`4569>9D9?>?64IC<5H91a   



#$! "#!((

`5F5<?@=5>D1<1>4581F9?EB%5491DB93C'5149>745F5<?@=5>D1>49=@19B=5>D
2581F9?B1<C?391<1>4>5EB?29?<?7931<613D?BCa 
 
$')/) 



!52T>
'$'"$#$-$!$"''!g%/(#*#))'$"(#(3??B49>14?B1


1B35<?>1?C@9D1<(1>D?1>45OE
(.,)/((.,)/%* '"#!,*!')' ( *!'( %)!

`9CBE@D9?>
?6@?CD5B9?B2B19>CICD5=6?BB5149>79>4IC<5H93389<4B5>G9D845F5<?@=5>D1<4IC<5H91a 


(.,)/(!' #$%


(.,)/("$''('(.,)/

`)854E31D9?>?64IC<5H93389<4B5>6B?=389<48??4D?I?E>714E<D8??4a
 
()(#')$'(# 

`*C9>7?B3EBB5>D*>45BCD1>49>7?6IC<5H91D?CE@@?BD51B<I945>D96931D9?>
 
($'#$""'#.*# `>D5BF5>39T>@C93?@5417T79315><1C49693E<D145C45<1@B5>49J1:55C3?<1Ba
 CE@< 


  <91>J14$B979>1<5>9>7<OC5> 
+#/#$$'#"*( `"5D11>1<ID933?>69B=1D9?>?6D85>?>G?B4B5149>7456939D9>45F5<?@=5>D1<
4IC<5H91a   


"14B94%9BL=945


`IC<5H91a 

,$!"$,'(% `)854?E2<5456939D8I@?D85C9C6?BD8545F5<?@=5>D1<4IC<5H91a
   








 '#!"'''!#)*.&*'$" !52T>
'+'.*!

`F1<E139T>59>D5BF5>39T>5>>9S?C3?>DB1CD?B>?C6?>?<T793?CIB95C7?4549693E<D1445
1@B5>49J1:545<1<53DEB1I<15C3B9DEB1a  
 *)$((d#/.'"$#! `F1<E139T>45<?C@B?35C?C455C3B9DEB15>>9S?C45@B9=1B91a
*)$('"$(!.'*#$


*)$('$'f*/.'*#$ 
$)/#(."''$( 
"'#+!'.($'#$"


%9BL=945


%9BL=945


!"#)"$"f#*/ 
39?>5C%9BL=945


!<93P>3914b5CDE49CB5DB92ER41@5<Db>C5>I1=5>D >4?3E=5>D
41@D139T1<31D1<M45<@B?7B1=1`!13?>C39P>3916?>?<U79315>5<C>5>CE>@B?7B1=1453<1CC5a45"41=C'??B=1>
!E>425B79)55<5B


"K#/.$')/"[!'$('$ 
49D?B91<(Q>D5C9C
d!+'/.$)'$( >%'$.)$!$E>4139T>$#
 'f".'*"

49D?B91<!52T>



<C=1D5B91<CB5CC5>I1DC13?>D9>E139T>?CT>5C@53Q693C@5B1DB521<<1B1=25<C1<E=>5C1=249C<PH91@5BU@?45>C5B
=?<D VD9<C @5B 1 =9<<?B1B 1<7E>C 45<C @B?35CC?C 9=@<931DC 5> <1 <<5>7E1 5C3B9D1 =5=UB91 1D5>39T @5B35@39T F9CE1< 9
1E49D9F15D3AE5@?45>5CD1B1<D5B1DC
E5713?>(9=T>'?=+1<5>3914939>3? 
+945?:?3)'(!-


 *$'*/'%$!!.$"/d#"





  


1B35<?>1CC?39139T1D1<1>145<19C<PH9191<DB5C49693E<D1DC5C@53Q69AE5C
*()$((d#/


!f'*("*!'('d."K#/!



  










'#d#/'$)!


'#d#/'$)!


               
E5>?C9B5C49D?B91<"O4931%1>1=5B931>1
!g%/'/g#

B1>141*BE@?




 %$')!!#$%K'/


%$')!!#$%K'/


(#*d##d'")!


/1B17?J149D?B91<.1<45
(#*d##d'")!

/1B17?J1







'5<139T45@B?7B1=5CAE59>D5>D5>3?=@5>C1B<5C=1>31>35CAE5@B5C5>D5><5C@5BC?>5C1=249C<PH91AE5CD5C59>5CC?>
454?CD9@EC
9>5C45CE@?BD1<1<53D?5C3B9@DEB1<53D?BC45@1>D1<<13?>F5BC?C45D5HD1ME49?5D3]9
9>5C45493145C14?>1BB53EBC?C@5B75CD9?>1B<19>6?B=139T5C3B9D14bE>1=1>5B1=OC56931N59>5C@5B165B5CAE5=5C
=1@5C3?>35@DE1<C5D3]
1<D5>9B5>3?=@D5AE5<5C59>5C5C=5>D145C@?45>C5B7B1DERD5C?45@171=5>D


!53D?BC45D5HD45@B?7B1=1B9<<9EB5
9>5C49>C5<%B?:53D5B5CC1"OC9>6?B=139T1GGGHD5331D :<171B5C 54E5C@58D<=
!<579B%B?7B1=1<53D?B45D5HD
)5HD1"% %B?7B1=1AE53?>F5BD59H5<D5HD9>DB?4ERD16?B=1D"%
"?D?BC45F5EAE5<<5759H5>E>D5HD@BPF91=5>D9>DB?4ERD9AE55C@?45>DB?21B@5B>D5B>5D

!53D?BC45D5HD3?=5B391<C
<1B?'514%<EC"OC9>6?B=139T1GGG9>D57B1D5;5C
(?45<C?D"OC9>6?B=139T1GGGC?45<C3?=
'581C?6D"OC9>6?B=139T1GGGB581C?6D3?=


5>5B14?BC4b5CAE5=5C9>5C3?=5B391<C
<1B?9451C+ "OC9>6?B=139T1GGG9>D57B1D5;5C
>C@9B1D9?>"OC9>6?B=139T1GGG9>C@9B1D9?>3?=
=1@)??<C"OC9>6?B=139T18DD@ 3=1@98=3EC


GGG54E 3?=
8DD@C ?B95>D139?>1>4E:1BG?B4@B5CC3?=
GGG13449C<5H91F?<E>D1B91D?B7
GGGHD535C
GGGHD535C B53EBC?C 3<93
GGG@9@?3<E23?=
GGG54E31B=5C E493?=
GGG<5?AE5F5??B7 13D9F94145C8D=
GGG5C@139?<?7?@5493?3?=
GGG9>D5B>5>5C3?=
GGG549D?B91<I1<453?=

GGG@B?49C<5H3?=
GGG>E1>355C >1DEB1<<IC@51;9>7
GGGD89>;2EJ1>3?= E; <1>49>7 C@1>9C8
GGGHD535C 3B541
8DD@ B161<F5<<5AE9@45CE@?BD2<?7C@?D3?=


 3?>C395>3916?>?S?79315>B9AE5D171BB9718D=<
8DD@ 35>DB?C54E3139?>>1F1BB15C 3B55>1


(($$)!#(!-GGG13431D


(GGG6549C?B7545B139T5C@1>I?<14549C<PH91

(#(GGG1C1>49C?B7
(!-'#GGG49C<5H917B1>1415C
(GGG49C<5H91:15>5C
-!8DD@ 1H491<2<?7C@?D3?=

(%GGG49C<5H91<>?BD53?=

("GGG49C61=>5D

(!g#GGG49C<5?>2<?7C@?D3?=

(!#GGG49C<531>5C

#(GGG49C<5H91<>?BD53?=

(!"GGG49C3<1=3?=

(($$)!#(!-GGG13431D

+(GGG49H<53?=

-GGG17149H5C

"'$#!(!-GGG=14B943?><149C<5H913?=

-"*'GGG149H=EB?B7

(!GGG49C<5H915EC;1493?=


GGG4IC<5H915E3?= (($g*'$%
GGG2414IC<5H91?B7E; (($g')^#
GGG4IC<5H9113D9?>?B7E;(($g')^#
GGG9>D5B4IC?B7 9>45H8D=(($g#)'#$#!

!b5AE9@AE5815<12?B1D1AE5CD@B?D?3?<@?C1149C@?C939T45<CC5ECECE1B9CE>C5BF59
4b1CC5CC?B1=5>D93?>CE<D5C%?45E14B5N1B<5CF?CDB5C@B57E>D5C9CE775B9=5>DC1
1<b1D5>39T45%'$()


5@1BD1=5>D4b>C5>I1=5>D45<15>5B1<9D1D451D1<E>I1
?<c<57945!?7?@545C451D1<E>I1
CC?39139T1D1<1>145<19C<PH91
AE9@4b5<12?B139T45<C%B?D?3?<C45<19C<PH9145<5C<<5C1<51BC
D?D<b1<E=>1D1=249C<PH9191<5CC5F5C61=Q<95CAE55>C81>5>3?B1D:1D1=9<<?B1B
5<CB53EBC?C9<5C5CDB1DP795C4b5>C5>I1=5>D91@B5>5>D1D7545<1<<5>7E15C3B9D1


?<c<57945!?7?@545C451D1<E>I1


>B9AE5D1''9''$!<?7?@541=5CDB1@C93U<?71
+93DUB91$#/d!/9(d#/<?7?@5419@5417?71

"1B=5>"')f#9+f#<?7?@5419@5417?71


You might also like