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+9-()83):%09%8-323*786)2+8,8)786)790873*'32'6)8) %'-6

WXVIRKXL JGV XSIUYEPSVI\GIIHXLIWTIGMJMIHWXVIRKXLJG F]E 8LI QMRMQYQ JGV  GER FI GSQTYXIH YWMRK 8EFPI  SV
QYPXMTPIGLSWIRXSVITVIWIRXXLITIVGIRXEKISJXIWXWEPPS[IH ETTP]MRK )U   XLVSYKL   EW ETTVSTVMEXI [MXL XLI
XSFIHIJIGXMZISJXLIWXVIRKXLZEVMEXMSRXLEXJMRHWETPEGIMR GVMXIVMEPMWXIHMR8EFPI
8EFPI[LMGLMW ;LIR E WTIGMJMGEXMSR VIUYMVIW E GSQFMREXMSR SJ XLI
EZIVEKIRYQFIVSJXIWXWWYGLEWXLIEZIVEKISJXLVIIGSRWIG
JGV !JG  ^W VIJIVXS)U F YXMZIXIWXWXLIWXERHEVHHIZMEXMSRSVGSIJJMGMIRXSJZEVMEXMSR
SJWYGLEREZIVEKI[MPPFIPS[IVXLERXLEXGSQTYXIHYWMRKEPP
%HIXEMPIHHMWGYWWMSRSJXLIGVMXIVMERIIHIHXSJYPP]YXMPM^IXLMW MRHMZMHYEPXIWXVIWYPXW 7IGXMSR 7XERHEVHHIZMEXMSR
XEFPI[MXLI\EQTPIWYWMRKXLIIUYEXMSRWMWTVIWIRXIHMR SJEREZIVEKIMWGEPGYPEXIHF]HMZMHMRKXLIWXERHEVHHIZMEXMSR
%WXLIQYPXMTPIETTPMIHXSXLIWXVIRKXLZEVMEXMSRMRGVIEWIW 7IGXMSR SJMRHMZMHYEPXIWXVIWYPXWF]XLIWUYEVIVSSX
XLIPIWWPMOIP]MX[MPPFIXLEXERMRHMZMHYEPWXVIRKXLXIWX[MPP SJXLIRYQFIVSJXIWXW R MRIEGLEZIVEKIMRXLIJSVQSJ
I\GIIH JG 8LMWMWWIIRMR*MK[LMGLWLS[WXLEXJSVE )U  MR8EFPI
KMZIR WTIGMJMIH WXVIRKXL XLI EZIVEKI VIUYMVIH WXVIRKXL 8LIZEPYISJRX]TMGEPP]WTIGMJMIHMW8LMWZEPYIWLSYPH
SZIVHIWMKR MRGVIEWIW EW XLI ZEVMEXMSR I\TVIWWIH EW XLI RSXFIGSRJYWIH[MXLXLIRYQFIVSJWXVIRKXLXIWXVIWYPXWYWIH
GSIJJMGMIRXSJZEVMEXMSRVMWIW XS IWXMQEXI XLI QIER SV WXERHEVH HIZMEXMSR SJ XLI VIGSVH
8LIWI IUYEXMSRW EPP VIUYMVI E VIPMEFMPMX] JEGXSV ZEPYI ^ 8EFPI  TVSZMHIW ZEPYIW SJ ^ JSV ZEVMSYW TIVGIRXEKIW SJ
[LMGLMWWIPIGXIHXSTVSZMHIEWYJJMGMIRXP]LMKLTVSFEFMPMX] XIWXWJEPPMRKFIX[IIRXLIQIER•^ ERHXLITVSFEFMPMX]EXIWX
XLEX JG [MPPFIIUYEPIHSVI\GIIHIH*SVGSRGVIXIWLEZMRKE [MPPJEPPFIPS[XLIQIERQMRYW^ )\EQTPIWEVIWLS[RMR
RSVQEPHMWXVMFYXMSRSJWXVIRKXLXIWXVIWYPXWXLI^ZEPYI GERFI 7IGXMSR
XEOIRJVSQ 8EFPI8LIGSQTYXIHZEPYISJJGV [MPPFIXLI 8LI EQSYRX F] [LMGL JGV  I\GIIHW JG  HITIRHW SR XLI
WEQI JSV E KMZIR WIX SJ WXVIRKXL XIWX VIWYPXW VIKEVHPIWW SJ EGGITXERGIGVMXIVMEWTIGMJMIHJSVXLITEVXMGYPEVTVSNIGX8LI
[LIXLIV XLI GSIJJMGMIRX SJ ZEVMEXMSR SV WXERHEVH HIZMEXMSR I\EQTPIW XLEX JSPPS[ WLS[ LS[ HMJJIVIRX GVMXIVME QE] FI
IUYEXMSRMWYWIH YWIHXSHIXIVQMRIJGV JSVZEVMSYWWTIGMJMGEXMSRWSVIPIQIRXW
SJWTIGMJMGEXMSRW2YQIVMGEPI\EQTPIWEVITVIWIRXIHMRFSXL
8EFPI{1SHMJMGEXMSRJEGXSVWJSVWXERHEVH MRGLTSYRH ERH 7-YRMXW MRE TEVEPPIP JSVQEX XLEXLEWFIIR
HIZMEXMSR
2YQFIVSJXIWXW 1SHMJMGEXMSRJEGXSVW
*I[IVXLER 6IJIVXS8EFPI
 
 
 
SVQSVI 
8EFPISJ%'-

8EFPI{1MRMQYQVIUYMVIHEZIVEKIWXVIRKXL
[MXLSYXWYJJMGMIRXLMWXSVMGEPHEXE
6IUYMVIHEZIVEKI
GSQTVIWWMZIWXVIRKXL 7TIGMJMIHGSQTVIWWMZIWXVIRKXL
JGV !JG TWM
[LIR JG  TWM JG  14E
JGV !JG 14E
JGV !JG TWM [LIR JG TWMERHJG TWM
JGV !JG 14E JG 14EERHJG 14E
JGV !JG TWM
[LIR JG "TWM JG "14E
JGV !JG 14E *MK {2SVQEP JVIUYIRG] GYVZIW JSV GSIJJMGMIRXW SJ
8EFPISJ%'- ZEVMEXMSRSJERH 

8EFPI{)UYEXMSRWXSHIXIVQMRIQMRMQYQVIUYMVIHEZIVEKIWXVIRKXL
'VMXIVMSR 'VMXIVMSR 'VMXIVMSR 'VMXIVMSRj
1E\MQYQTIVGIRXSJ 1E\MQYQTIVGIRXSJQSZMRK 1E\MQYQTIVGIRXSJMRHMZMHYEP 1E\MQYQTIVGIRXSJ
MRHMZMHYEPXIWXW JG EZIVEKISJRGSRWIGYXMZIXIWXW JG XIWXW  JG z O MRHMZMHYEPXIWXW  O SJJG
'SIJJMGMIRXSJZEVMEXMSRJSVQYPE JGV !JG  z^: JGV !JG  z^: R JGV ! JG z O  z^: JGV !OJG  z^:
)UYEXMSRRYQFIV E E E E
7XERHEVHHIZMEXMSRJSVQYPE JGV !JG ^W JGV ! JG  ^W R JGV ! JG z O ^W JGV ! OJG  ^W
)UYEXMSRRYQFIV F F F F

'VMXIVMSRMWJSVJG TWM 14E 
j'VMXIVMSRMWJSVJ "TWM 14E 
G

%QIVMGER'SRGVIXI-RWXMXYXI'ST]VMKLXIH1EXIVMEP{[[[GSRGVIXISVK
 +9-()83):%09%8-323*786)2+8,8)786)790873*'32'6)8) %'-6

8EFPI{4VSFEFMPMXMIWEWWSGMEXIH[MXLZEPYIWSJ^ 8STVSHYGIEGSRGVIXIQM\XYVI[MXLJG SJTWM 14E


4IVGIRXEKIWSJXIWXW 'LERGIWSJJEPPMRKFIPS[ XLEXMWI\TIGXIHSREZIVEKIXSLEZIRSQSVIXLER SJXLI
[MXLMR•^ JG z^ ^ XIWX VIWYPXW JEPP FIPS[ JG  XLI GSRGVIXI QM\XYVI WLSYPH FI
 MR   TVSTSVXMSRIHXSTVSHYGIEREZIVEKIWXVIRKXLSJRSPIWWXLER
 MR   TWM 14E 
 MR    'VMXIVMSR2S{8LIIRKMRIIVGERWTIGMJ]ETVSFEFMPMX]
 MR  
XLEXEREZIVEKISJRGSRWIGYXMZIWXVIRKXLXIWXW[MPPJEPPFIPS[JG 
 MR  
*SV I\EQTPI %'-  7IGXMSR  WXMTYPEXIW XLEX XLI
 MR   
EZIVEKISJER]XLVIIGSRWIGYXMZIWXVIRKXLXIWXVIWYPXWWLSYPH
 MR  
IUYEPSVI\GIIHJG 8LIJGV WLSYPHFIIWXEFPMWLIH[LIVI
 MR  
 MR  
JEMPYVIXSQIIXJG MWERXMGMTEXIHEXRSQSVIXLERMR
XMQIW  
 MR   
 MR  
 'SIJJMGMIRXSJZEVMEXMSRQIXLSH{%WWYQIWYJJMGMIRX
 MR   HEXEI\MWXJSV[LMGLE GSIJJMGMIRXSJZEVMEXMSRLEWFIIR

'SQQSRP]YWIHZEPYIW
GEPGYPEXIHJSVEGSRGVIXIQM\XYVI[MXLERJG SJTWM
 14E  *VSQ 8EFPI    SJ XLI RSVQEP TVSFEFMPMX]
HMWXVMFYXMSRMWQSVIXLERWXERHEVHHIZMEXMSRWFIPS[XLI
LEVHGSRZIVXIHXLYWXLI]VIJPIGXXLIZEPYIWGSQQSRP]YWIH
QIER9WMRK)U E JVSQ8EFPI
MRXLIVIWTIGXMZIYRMXW]WXIQ%'-GSRXEMRWZEVMEXMSRWSJ
XLIWIIUYEXMSRW
 'VMXIVMSR 2S {8LI IRKMRIIV QE] WTIGMJ] E JGV !JG ?z ^: R A
QE\MQYQ TIVGIRXEKI SJ MRHMZMHYEP VERHSQ WXVIRKXL XIWX
VIWYPXWTIVQMXXIHXSJEPPFIPS[XLIJG 8LMWMWXLIJSVQSJQER] JGV !TWM?z »  A!TWM
MRXIVREXMSREP WTIGMJMGEXMSRW [LMGL XIRH XS YWI E VIPMEFMPMX]
JEGXSVSJMQTP]MRKEGGITXERGISJSRP]E JEMPYVIVEXI ?JGV !14E?z »  A!14EA
8LMWGVMXIVMSRMWRSPSRKIVYWIHMR%'-FYXQE]SGGYVMR
WMXYEXMSRW[LIVIXLIEZIVEKIWXVIRKXLMWEJYRHEQIRXEPTEVXSJ 8LIVIJSVIJSVETWM 14E QM\XYVITVSTSVXMSRJSV
XLIHIWMKRQIXLSHSPSK]WYGLEWMRWSQITEZIQIRXWTIGMJMGE EREZIVEKIWXVIRKXLRSPIWWXLERTWM 14E WSXLEX
XMSRW % X]TMGEP VIUYMVIQIRX TIVQMXW RS QSVI XLER  SREZIVEKIRSQSVIXLER SJXLIQSZMRKEZIVEKISJXLVII
WXVIRKXLXIWXWXSJEPPFIPS[JG 7TIGMJMIHWXVIRKXLMRXLIWIWMXY GSRWIGYXMZIWXVIRKXLXIWXVIWYPXWJEPPFIPS[JG 
EXMSRWKIRIVEPP]VERKIWJVSQXSTWM XS14E   7XERHEVH HIZMEXMSR QIXLSH{%WWYQI WYJJMGMIRX
 'SIJJMGMIRXSJZEVMEXMSRQIXLSH{%WWYQIWYJJMGMIRX HEXEI\MWXJSV[LMGLEWXERHEVHHIZMEXMSRSJTWM 14E
HEXEI\MWXJSV[LMGLEGSIJJMGMIRXSJZEVMEXMSRSJ LEW LEWFIIRGEPGYPEXIHJSVEGSRGVIXIQM\XYVI[MXLERJG SJ
FIIRGEPGYPEXIHJSVEGSRGVIXIQM\XYVI[MXLERJG SJTWM  TWM  14E  *VSQ 8EFPI    SJ XLI RSVQEP
14E *VSQ 8EFPI SJXLIRSVQEPTVSFEFMPMX] TVSFEFMPMX]HMWXVMFYXMSRMWQSVIXLERWXERHEVHHIZMEXMSRW
HMWXVMFYXMSRMWQSVIXLERWXERHEVHHIZMEXMSRWFIPS[XLI FIPS[XLIQIER9WMRK)U F JVSQ8EFPI
QIER9WMRK)U E JVSQ8EFPI
JGV !JG ^W R
JGV !JG  z^:

JGV ! z » !TWM JGV !TWM? »TWM   A!TWM


?JGV ! z » !14EA JGV !14E? »14E   A!14E

8LIVIJSVIJSVERJG SJTWM 14E TVSTSVXMSRXLI 8LIVIJSVIJSVERJG SJTWM 14E TVSTSVXMSRXLI


GSRGVIXIQM\XYVIJSVEREZIVEKIWXVIRKXLRSPIWWXLERTWM GSRGVIXIQM\XYVIJSVEREZIVEKIWXVIRKXLRSPIWWXLERTWM
 14E  WS XLEX SR EZIVEKIRS QSVI XLER   SJ XLI  14E  WS XLEX SR EZIVEKI RS QSVI XLER   SJ XLI
VIWYPXWJEPPFIPS[JG  QSZMRKEZIVEKISJXLVIIWXVIRKXLXIWXVIWYPXWJEPPWFIPS[JG 
 7XERHEVHHIZMEXMSR QIXLSH{%WWYQI WYJJMGMIRX )UYEXMSR F JVSQ 8EFPI MWTVIWIRXIH MR HMJJIVIRX
HEXEI\MWXJSV[LMGLEWXERHEVHHIZMEXMSRSJTWM 14E JSVQ XLER )U   8EFPI  MR %'-  8LI ZEPYI
LEWFIIRGEPGYPEXIHJSVEGSRGVIXIQM\XYVI[MXLERJG SJ  MR %'-  MW IUYMZEPIRX XS ^ R  !    ! 
 TWM  14E  %GGSVHMRK XS 8EFPI    SJ XLI FIGEYWIFSXL^ERHREVIEPVIEH]WTIGMJMIH
RSVQEP TVSFEFMPMX] HMWXVMFYXMSR MW QSVI XLER  WXERHEVH  'VMXIVME2SERH{8LIIRKMRIIVQE]WTIGMJ]E
HIZMEXMSRWFIPS[XLIQIER9WMRK )U F JVSQ8EFPI GIVXEMR TVSFEFMPMX] XLEX E VERHSQ MRHMZMHYEP WXVIRKXL XIWX
VIWYPX[MPPFIRSQSVIXLEREGIVXEMREQSYRXFIPS[JG *SV
JGV JG ^W
I\EQTPI'VMXIVMSR2SMWYWIHMR%'-F]WXMTYPEXMRK
XLEXRSMRHMZMHYEPWXVIRKXLXIWXVIWYPXJEPPWFIPS[JG F]QSVI
JGV !TWM»TWM!TWM XLER  TWM  14E  %R EPXIVREXMZI 'VMXIVMSR 2S  MW
?JGV !14E»  14E!14EA ETTVSTVMEXI JSV GSRGVIXI [MXL JG  "  TWM  14E 
%QIVMGER'SRGVIXI-RWXMXYXI'ST]VMKLXIH1EXIVMEP{[[[GSRGVIXISVK
+9-()83):%09%8-323*786)2+8,8)786)790873*'32'6)8) %'-6 

VIUYMVIW XLEX RS MRHMZMHYEP WXVIRKXL XIWX VIWYPX JEPPW FIPS[ TWM 14E WSXLEXSREZIVEKIRSQSVIXLER SJ
 SJJG 8LIWIX[SGVMXIVMEEVIIUYMZEPIRXEXTWM XLIMRHMZMHYEPWXVIRKXLXIWXVIWYPXWJEPPFIPS[JGV 
14E 8LIQMRMQYQZEPYISJJGV MWIWXEFPMWLIHWSXLEX  7XERHEVH HIZMEXMSR QIXLSH JG "  TWM 
RSRGSRJSVQERGISJERMRHMZMHYEPVERHSQXIWXMWERXMGMTEXIH 14E {%WWYQIEWXERHEVHHIZMEXMSRSJTWM 14E LEW
RSQSVISJXIRXLERMRXMQIWMRIMXLIVGEWI FIIRGEPGYPEXIHJSVEGSRGVIXIQM\XYVI[MXLERJG SJTWM
 'SIJJMGMIRXSJZEVMEXMSRQIXLSHJ G TWM  14E  *VSQ 8EFPI    SJ XLI RSVQEP TVSFEFMPMX]
14E {%WWYQIWYJJMGMIRXHEXEI\MWXJSV[LMGLEGSIJJMGMIRX HMWXVMFYXMSRMWQSVIXLERWXERHEVHHIZMEXMSRWFIPS[XLI
SJ ZEVMEXMSR SJ   LEW FIIR GEPGYPEXIH JSV E GSRGVIXI QIER9WMRK)U F [MXLOWIXIUYEPXSJVSQ8EFPI
QM\XYVI[MXLERJG SJTWM 14E *VSQ8EFPI
 SJXLIRSVQEPTVSFEFMPMX]HMWXVMFYXMSRMWQSVIXLER JGV !» JG ^W
WXERHEVHHIZMEXMSRWFIPS[XLIQIER9WMRK)U E [MXL
OWIXXSTWM 14E JVSQ8EFPI JGV !»TWM»TWM!TWM
?JGV ! »14E  »14E !14EA
JGV ! JG zO  z^:
8LIVIJSVIJSVERJG SJTWM 14E TVSTSVXMSRXLI
JGV ! TWMzTWM ?z » A!TWM GSRGVIXIQM\XYVIJSVEREZIVEKIWXVIRKXLRSPIWWXLERTWM
?JGV ! 14Ez14E ?z » A!14EA  14E  WS XLEX SR EZIVEKI RS QSVI XLER   SJ XLI
MRHMZMHYEPWXVIRKXLXIWXVIWYPXWJEPPFIPS[JG 
8LIVIJSVIJSVERJG SJTWM 14E TVSTSVXMSRXLI  1YPXMTPI GVMXIVME{-R QER] MRWXERGIW QYPXMTPI
GSRGVIXIQM\XYVIJSVEREZIVEKIWXVIRKXLRSPIWWXLERTWM GVMXIVME EVI WTIGMJMIH %'-  VIUYMVIW XLEX GSRGVIXI
 14E  WS XLEX SR EZIVEKI RS QSVI XLER   SJ XLI WXVIRKXLW GSRJSVQ XS FSXL MRHMZMHYEP XIWX GVMXIVME ERH XLI
MRHMZMHYEP WXVIRKXL XIWX VIWYPXW JEPP FIPS[ JG F] QSVIXLER QSZMRKEZIVEKISJXLVIIXIWXGVMXIVME&IGEYWIFSXLGVMXIVME
TWM 14E  EVI MR IJJIGX XLI VIUYMVIH JGV  WLSYPH QIIX SV I\GIIH EPP
 7XERHEVH HIZMEXMSR QIXLSH JG   TWM VIUYMVIQIRXW XLEX MW JGV  WLSYPH FI XLI LMKLIWX WXVIRKXL
14E {%WWYQIWYJJMGMIRXHEXEI\MWXJSV[LMGLEWXERHEVH GEPGYPEXIH YWMRK EPP VIPIZERX GVMXIVME *SV I\EQTPI EWWYQI
HIZMEXMSR SJ TWM  14E  LEW FIIR GEPGYPEXIH JSVE WYJJMGMIRXHEXEI\MWXJSV[LMGLER GSIJJMGMIRXSJZEVMEXMSR
GSRGVIXI QM\XYVI [MXL ER JG  SJ  TWM  14E  *VSQ LEW FIIR GEPGYPEXIH JSV E GSRGVIXI QM\XYVI [MXL ER JG  SJ
8EFPI SJXLIRSVQEPTVSFEFMPMX]HMWXVMFYXMSRMWQSVI  TWM 14E 8LIVIUYMVIHEZIVEKIWXVIRKXLJSV XLMW
XLERWXERHEVHHIZMEXMSRWFIPS[XLIQIER9WMRK)U F GSRGVIXIQM\XYVIWLSYPHQIIXFSXLSJXLIWIGVMXIVME
JVSQ8EFPI[MXLOWIXIUYEPXSTWM 14E  -RHMZMHYEP WXVIRKXL GVMXIVMSR   JGV  !  »
JG  z: !TWM 14E ERH
JGV ! JG zO ^W  1SZMRK EZIVEKI SJ XLVII WXVIRKXL XIWXW GVMXIVMSR
  JGV !JG  z:  !TWM 14E 
1SZMRKEZIVEKIGVMXIVMSRKSZIVRWFIGEYWIMXTVSHYGIWXLI
JGV ! TWMzTWM  »TWM !TWM
PEVKIWX JGV XLEXMWTWM"TWM 14E"14E 
?JGV ! 14Ez14E  »14E !14EA ERH JGV WLSYPHFIXLIPEVKIVWXVIRKXLGEPGYPEXIHJSVXLIX[SGVMXIVME

8LIVIJSVIJSVEWTIGMJMIHGSQTVIWWMZIWXVIRKXLSJTWM ',%48)6{):%09%8-323*(%8%
 14E  TVSTSVXMSR XLI GSRGVIXI QM\XYVI JSV ER EZIVEKI {+IRIVEP
WXVIRKXLRSPIWWXLERTWM 14E WSXLEXSREZIVEKI 8LIIZEPYEXMSRSJWXVIRKXLHEXEMWVIUYMVIHMRQER]WMXYE
RSQSVIXLER SJXLIMRHMZMHYEPWXVIRKXLXIWXVIWYPXWJEPP XMSRW8LVIIGSQQSRP]VIUYMVIHETTPMGEXMSRWEVI
FIPS[ JG F]QSVIXLERTWM 14E  )ZEPYEXMSRJSVQM\XYVIWYFQMXXEPTYVTSWIW
 'SIJJMGMIRXSJZEVMEXMSRQIXLSH JG "TWM )ZEPYEXMSRSJPIZIPSJGSRXVSPERH
14E {%WWYQIWYJJMGMIRXHEXEI\MWXJSV[LMGLEGSIJJMGMIRX )ZEPYEXMSRXSHIXIVQMRIGSQTPMERGI[MXLWTIGMJMGEXMSRW
SJ ZEVMEXMSR SJ   LEW FIIR GEPGYPEXIH JSV E GSRGVIXI 8LIWIIZEPYEXMSRWEVIMQTSVXERXJSVMHIRXMJ]MRKHITEVXYVIW
QM\XYVI[MXLERJG SJTWM 14E *VSQ8EFPI JVSQ HIWMVIH XEVKIX ZEPYIW ERH [LIVI TSWWMFPI EWWMWXMRK
 SJXLIRSVQEPTVSFEFMPMX]HMWXVMFYXMSRMWQSVIXLER [MXL JSVQYPEXMRK ER ETTVSTVMEXI VIWTSRWI -R EPP GEWIW
WXERHEVHHIZMEXMSRWFIPS[XLIQIER9WMRK)U E [MXLO YWIJYPRIWWSJXLIIZEPYEXMSRMWEJYRGXMSRSJXLIEQSYRXSJ
WIXIUYEPXSJVSQ8EFPI XIWXHEXEERHXLIWXEXMWXMGEPVMKSVSJXLIEREP]WMW%TTPMGEXMSRWJSV
VSYXMRIUYEPMX]GSRXVSPERHGSQTPMERGISZIVPETGSRWMHIVEFP]
JGV !»JG  z^: 1ER]IZEPYEXMSRXSSPWSVXIGLRMUYIWYWIHMRSRIETTPMGEXMSR
EVIETTVSTVMEXIJSVYWIMRERSXLIV
'LETXIV  [LMGL VIZMI[W XIGLRMUYIW ETTVSTVMEXI JSV
JGV ! »TWM ?z » A!TWM GSRGVIXIQM\XYVIWYFQMXXEPIZEPYEXMSRHMWGYWWIWXIGLRMUYIW
?JGV ! »14E ?z » A!14EA JSV VSYXMRI UYEPMX] GSRXVSP ERH GSQTPMERGI ETTPMGEXMSRW
'VMXIVME JSV VINIGXMRK HSYFXJYP VIWYPXW HIXIVQMRMRK XIWXMRK
8LIVIJSVIJSVERJG WXVIRKXLSJTWM 14E TVSTSVXMSR JVIUYIRG]ERHKYMHIPMRIWJSVEHHMXMSREPXIWXTVSGIHYVIWEVI
XLI GSRGVIXI QM\XYVI JSV ER EZIVEKI WXVIRKXL RS PIWW XLER EPWSHMWGYWWIH
%QIVMGER'SRGVIXI-RWXMXYXI'ST]VMKLXIH1EXIVMEP{[[[GSRGVIXISVK
 +9-()83):%09%8-323*786)2+8,8)786)790873*'32'6)8) %'-6

-XMWYWIJYPXSHIXIVQMRIXLIPMOIPMLSSHSJZEVMSYWSYXGSQIW 8EFPI{4VSFEFMPMX]SJEXPIEWXSRIIZIRXMRR
[LIRXLIVIMWEXQSWXE TVSFEFMPMX]SJEXIWXPIWWXLERJG XIWXWJSVWIPIGXIHWMRKPIIZIRXTVSFEFMPMXMIW
F]QSVIXLERTWM 14E ERHEXQSWXE TVSFEFMPMX] R 7MRKPIIZIRXTVSFEFMPMX]! 7MRKPIIZIRXTVSFEFMPMX]!
XLEX XLI QSZMRK EZIVEKI SJ XLVII GSRWIGYXMZI XIWXW [MPP FI   
PIWWXLERJG 8LIQE\MQYQTVSFEFMPMX]XLEXEXPIEWXSRIIZIRX   
[MPPSGGYV MR RMRHITIRHIRXXIWXWQE] FIIWXMQEXIHYWMRK   
)U   0IQMRK   
  
  
4V_EXPIEWXIZIRX`RXIWXWa!z zT R 
  %TTVS\MQEXIP]

[LIVI TMWXLITVSFEFMPMX]SJEWMRKPIIZIRX
;LIR IZEPYEXMRK GSRGVIXI XIWXW T MW XLI WMRKPI IZIRX *SV VSYXMRI FYMPHMRK GSRWXVYGXMSR %'-  VIUYMVIW EX
TVSFEFMPMX] SJ RSRGSQTPMERGI [MXL XLI WXVIRKXL GVMXIVME MR PIEWXSRIXIWXTIVHE]8LIVIWLSYPHFISRIXIWXJSVIZIV]]H
%'-  &IGEYWITMRGPYHIWFSXLTSWWMFPIGEWIWSJJG F] Q SJGSRGVIXITPEGIHSVSRIXIWXJSVIZIV]JX
QSVIXLERTWM 14E ERHXLIQSZMRKEZIVEKISJXLVII Q SJXLIWYVJEGIEVIESJWPEFWERH[EPPWFYX%'-
GSRWIGYXMZIXIWXWJEPPMRKXSPIWWXLERJG  TPMIWFIX[IIR TIVQMXWXLIIRKMRIIVXS[EMZIXIWXMRKSRUYERXMXMIWPIWWXLER
ERH ;MXLSYXQSVIHIXEMPWEWWYQIXLITVSFEFMPMX]SJE ]H Q 8IWXMRKJVIUYIRG]WLSYPHWEXMWJ]IEGLGVMXIVMSR
WMRKPIXIWXJEMPMRKXSQIIXXLIWXVIRKXLGVMXIVMESJ%'-XS 8LIWIXIWXMRKJVIUYIRGMIWKIRIVEPP]VIWYPXMRXIWXMRKGSRGVIXIMR
FI   8EFPI  TVSZMHIW TVSFEFMPMXMIW SJ EX PIEWX SRI SRISYXSJXSXVYGOW8IWXMRKQSVIJVIUYIRXP]XLERXLMW
SGGYVVIRGISJERSRGSQTPMERXVIWYPXKMZIRZEVMSYWRYQFIVW GERWPS[XLIGSRWXVYGXMSRTVSGIWW
SJMRHITIRHIRXXIWXWR[LIRXLIWMRKPIIZIRXTVSFEFMPMX]T 8IWXMRK IEGL PSEH SJ HIPMZIVIH GSRGVIXI JSV TSXIRXMEP
IUYEPW  EXIWXHSIWRSXQIIX%'-WXVIRKXLGVMXIVME WXVIRKXL MW VEVIP] VIUYMVIH *SV QIQFIVW [LIVI WXVYGXYVEP
ERH  EXIWXJEPPWFIPS[JG  TIVJSVQERGI MW WIRWMXMZI XS GSQTVIWWMZI WXVIRKXL XIWXMRK
SRGIJSVIZIV]]H Q QE]FIETTVSTVMEXI3RIXIWX
8LITVSFEFMPMX]JSVRSRGSQTPMERGIMWRSXXVMZMEPIZIRJSV
JSVIZIV]]H Q [SYPHFIETTVSTVMEXISRP]JSVXLI
VIPEXMZIP]WQEPPTVSNIGXW*SVI\EQTPIXLIVIMWETTVS\MQEXIP]E
QSWX GVMXMGEP ETTPMGEXMSRW :IV] JVIUYIRX XIWXMRK WLSYPH FI
  TVSFEFMPMX]SJLEZMRKEX PIEWX SRI RSRGSQTPMERX XIWX
WTIGMJMIHSRP]JSVGSQTIPPMRKVIEWSRWWYGLEWWTIGMEPM^IHSV
TWM 14E FIPS[JG ERHEKVIEXIVXLER TVSFEFMPMX]
GVMXMGEPQIQFIVETTPMGEXMSRW
XLEXEXPIEWXSRIXIWXJEPPWFIPS[ JG JSVETVSNIGX[MXLSRP]
)EGLHMJJIVIRXGPEWWSJGSRGVIXITPEGIHHYVMRKER]SRIHE]
WIZIRXIWXW8LIVIMWELMKLTVSFEFMPMX]SJWYGLERSGGYVVIRGI
[MPP FI VITVIWIRXIH F] EX PIEWX SRI XIWX %X PIEWX JMZI XIWXW
SRQSWXTVSNIGXWERHMXMWERIEVGIVXEMRX]SRPEVKITVSNIGXW
WLSYPHFIGSRHYGXIHJSVIEGLGPEWWSJGSRGVIXISREKMZIR
IZIR MJ ZEVMEXMSR MW HYI I\GPYWMZIP] XS VERHSQ IJJIGXW ERH
TVSNIGX6IJIVXS%'-%'-ERH%781''1
QMRMQYQEZIVEKIWXVIRKXL[EWHIXIVQMRIHYWMRKWXEXMWXMGEPP]
JSVVSYXMRIXIWXMRKVIUYMVIQIRXW
ZEPMHQIXLSHW4VSFEFMPMXMIWEVIVIHYGIHWSQI[LEX JSVPEVKIV
TVSNIGXW HYI XS XLI IJJIGXW SJMRXIVJIVIRGI LS[IZIVXLI
{6INIGXMSRSJHSYFXJYPWTIGMQIRW
TVSFEFMPMXMIWEVIWXMPPETTVIGMEFPI 0IQMRK  %VFMXVEVMP]VINIGXMRKWXVIRKXLXIWXVIWYPXWXLEXETTIEVXSSJEV
SYXSJPMRIMWRSXVIGSQQIRHIHFIGEYWIRSVQEPHMWXVMFYXMSR
{2YQFIVWSJXIWXW ERXMGMTEXIW XLI TSWWMFMPMX] SJ WYGL VIWYPXW (MWGEVHMRK XIWX
*SVETEVXMGYPEVTVSNIGXEWYJJMGMIRXRYQFIVSJXIWXWWLSYPH VIWYPXW MRHMWGVMQMREXIP] GER WIVMSYWP] HMWXSVX XLI WXVIRKXL
FIQEHI XSIRWYVIEGGYVEXIVITVIWIRXEXMSRSJXLI GSRGVIXI HMWXVMFYXMSRQEOMRKEREP]WMWSJVIWYPXWYRVIPMEFPI3GGEWMSREPP]
%'-HIJMRIWEWXVIRKXLXIWXEWXLIEZIVEKIWXVIRKXLSJX[S XLI WXVIRKXL SJ SRI G]PMRHIV JVSQ E KVSYT QEHI JVSQ E
SVQSVIWTIGMQIRWSJXLIWEQIEKIJEFVMGEXIHJVSQEWEQTPI WEQTPIHIZMEXIWWSJEVJVSQXLISXLIVWXLEXMXMWGSRWMHIVIH
XEOIRJVSQEWMRKPIFEXGLSJGSRGVIXI8IWXMRKJVIUYIRG]GER LMKLP] MQTVSFEFPI -JUYIWXMSREFPIZEVMEXMSRW EVI SFWIVZIH
FIIWXEFPMWLIHSRXLIFEWMWSJXMQIIPETWIHSVZSPYQITPEGIH HYVMRK JEFVMGEXMSR GYVMRK SV XIWXMRK SJ E WTIGMQIR XLI
8LIIRKMRIIVWLSYPHFEWIXLIVIUYMVIHRYQFIVSJXIWXWSR WMRKPIG]PMRHIVWTIGMQIRWLSYPHFIVINIGXIHSRXLEXFEWMW
NSFGSRHMXMSRW %781)TVSZMHIWGVMXIVMEJSVVINIGXMRKXLIXIWXVIWYPX
% TVSNIGX [LIVI SRI IRKMRIIV WYTIVZMWIW EPP GSRGVIXI JSVSRIWTIGMQIRMREWIXSJWTIGMQIRW+IRIVEPP]XLIVIWYPX
STIVEXMSRWTVSZMHIWERI\GIPPIRXSTTSVXYRMX]JSVGSRXVSPERH JVSQEWMRKPIWTIGMQIRMREWIXSJXLVIISVQSVIWTIGMQIRW
EGGYVEXIIWXMQEXIWSJXLIQIERERHWXERHEVHHIZMEXMSR[MXL GERFIHMWGEVHIHMJMXWHIZMEXMSRJVSQEXIWXQIERMWKVIEXIV
QMRMQYQ XIWXMRK 3RGI STIVEXMSRW EVI TVSKVIWWMRK XLER XLVII XMQIW XLI TVIZMSYWP] IWXEFPMWLIH [MXLMRFEXGL
WQSSXLP] XIWXW XEOIR IEGL HE] SV WLMJX HITIRHMRK SR XLI WXERHEVHHIZMEXMSR 'LETXIV  8LIVIWYPXWLSYPHFIMRZIWXMKEXIH
ZSPYQISJGSRGVIXITVSHYGIHGERFIWYJJMGMIRXXSSFXEMRHEXE MJMXWHIZMEXMSRMWKVIEXIVXLERX[SXMQIWXLI[MXLMRFEXGL
XLEXVIJPIGXXLIZEVMEXMSRWSJXLIGSRGVIXIEWHIPMZIVIH8LI WXERHEVH HIZMEXMSR 8LI XIWX EZIVEKI WLSYPH FI GSQTYXIH
IRKMRIIV GER VIHYGI XLI RYQFIV SJ XIWXW VIUYMVIH F] XLI JVSQXLIVIQEMRMRKWTIGMQIRW%XIWXXLEXMWXLIEZIVEKI
TVSNIGXWTIGMJMGEXMSRWEWXLIPIZIPWSJGSRXVSPSJXLITVSHYGIV SJEPPWTIGMQIRWSJEWMRKPIWEQTPIXIWXIHEXXLIWEQIEKI
PEFSVEXSV]ERHGSRXVEGXSVEVIIWXEFPMWLIH8SEZSMHFMEWEPP WLSYPHRSXFIVINIGXIHYRPIWWMXMWPMOIP]XLEXXLIWTIGMQIRW
WEQTPMRKJSVEGGITXERGIXIWXMRKWLSYPHFIGSRHYGXIHYWMRK EVIJEYPX]8LIXIWXVITVIWIRXWXLIFIWXEZEMPEFPIIWXMQEXIJSV
VERHSQP]WIPIGXIHFEXGLIWSJGSRGVIXI XLIWEQTPIWXVIRKXL
%QIVMGER'SRGVIXI-RWXMXYXI'ST]VMKLXIH1EXIVMEP{[[[GSRGVIXISVK
+9-()83):%09%8-323*786)2+8,8)786)790873*'32'6)8) %'-6 

{%HHMXMSREPXIWXVIUYMVIQIRXW MHIRXMJ] XVIRHW EW IEVP] EW TVEGXMGEFPI ;IPPIWXEFPMWLIH


2SVQEPP]TSXIRXMEPGSQTVIWWMZIWXVIRKXL ERHZEVMEFMPMX] QIXLSHW JSV WIXXMRK YT GLEVXW WMQMPEV XS XLSWI EFSYX XS FI
SJGSRGVIXIEVIFEWIHSRXIWXVIWYPXWYWMRKG]PMRHIVWXLEXLEZI TVIWIRXIHEVISYXPMRIHMR%781120%
FIIR WEQTPIH QSPHIH ERH WXERHEVH GYVIH MR EGGSVHERGI 8VIRHW FIGSQI QSVI ETTEVIRX FEWIH SR XLI TEXXIVR SJ
[MXL%781''1YRXMPXLIWTIGMJMIHXIWXEKI[LMGLMW TVIZMSYWVIWYPXWERHPMQMXWIWXEFPMWLIHJVSQ%781120%
RSVQEPP]HE]W8IWXG]PMRHIVHMEQIXIVWLSYPHFIEXPIEWX (EXE JEPPMRK SYXWMHI IWXEFPMWLIH PMQMXW MRHMGEXI WSQIXLMRK
XLVIIXMQIWXLIWM^ISJXLIRSQMREPQE\MQYQEKKVIKEXIMR LEWEJJIGXIHXLIGSRXVSPSJXLITVSGIWWERHEGXMSRSVMRXIVJIVIRGI
XLI QM\XYVI 'SRGVIXI WTIGMQIRW QEHI SV GYVIH YRHIV [MXL XLI I\MWXMRK TVSGIWW ZEVMEFPIW XS FVMRK MX FEGO YRHIV
RSRWXERHEVHGSRHMXMSRWQE]TVSZMHIEHHMXMSREPMRJSVQEXMSR GSRXVSPMWSJXIRVIUYMVIH8LIWIEGXMSRWSVTVSGIWWMRXIVJIVIRGI
FYXWLSYPHFIEREP]^IHERHVITSVXIHWITEVEXIP]7TIGMQIRW PMQMX ZEPYIW EVI KIRIVEPP] IWXEFPMWLIH YWMRK QIXLSHW PMOI
XLEXLEZIRSXFIIRTVSHYGIHGYVIHSVXIWXIHYRHIVWXERHEVH XLSWIYWIHF]XLMWKYMHIFEWIHSRGSRXVEGXWTIGMJMGEXMSRWSV
GSRHMXMSRW QE] RSX EGGYVEXIP] VIJPIGX TSXIRXMEP GSRGVIXI SXLIV ZEPYIW EX [LMGL EGXMSR WLSYPH FI XEOIR *VIUYIRXP]
WXVIRKXL(MWGVITERGMIWERHHIZMEXMSRWJVSQWXERHEVHXIWXMRK EGXMSR SV MRXIVJIVIRGI PMQMXW EVI IUYEP XS XLI EGGITXERGI
GSRHMXMSRWWLSYPHFIRSXIHSRWXVIRKXLXIWXVITSVXW GVMXIVMEWTIGMJMIHJSVETEVXMGYPEVTVSNIGX
'SRGVIXIWXVIRKXLXIWXMRKEXPEXIVEKIWWYGLEWSV *MKYVI  TVIWIRXW XLVII WMQTPMJMIH GLEVXW TVITEVIH
HE]W QE]FI QSVIVIPIZERX XLER XLI HE] WXVIRKXL WTIGMJMGEPP]JSVGSRGVIXIGSRXVSP8LIWIGLEVXWEVIGSQFMRIH
TEVXMGYPEVP][LIVIETS^^SPERPS[LIEXGIQIRXSVGIQIRXSJ MRXSSRIHMEKVEQWSXLI]GERFIIZEPYEXIHWMQYPXERISYWP]
WPS[ WXVIRKXL KEMR MW YWIH 7SQI WXVYGXYVEP IPIQIRXW SV 8LIWI GLEVXW QE] RSX GSRXEMR EPP XLI JIEXYVIW SJ JSVQEP
WXVYGXYVIW[MPPRSXFIPSEHIHYRXMPGSRGVIXILEWQEXYVIHPSRKIV GSRXVSPGLEVXWFYXXLI]GERFIYWIJYPXSXLIGSRGVIXIIRKMRIIV
XLERHE]WERHEHZERXEKIGERFIXEOIRSJXLMWWXVIRKXLKEMR EVGLMXIGXGSRXVEGXSVERHWYTTPMIV'SRXVSPGLEVXWSJXLMWX]TI
-JEHIWMKRMWFEWIHSRPEXIVEKIWXVIRKXLWMXQE]FIRIGIWWEV] EVI WXVSRKP] VIGSQQIRHIH JSV GSRGVIXI MR GSRXMRYSYW
XS GSVVIPEXI [MXL HE] WXVIRKXL FIGEYWI MX MW RSX EP[E]W TVSHYGXMSRSZIVGSRWMHIVEFPITIVMSHW
TVEGXMGEPXSYWIPEXIVEKIWTIGMQIRWJSVGSRGVIXIEGGITXERGI  7MQTPI WXVIRKXL GLEVX{'LEVX E  MR *MK  [LMGL
8LMWGSVVIPEXMSRWLSYPHFIIWXEFPMWLIHF]JMIPHSVPEFSVEXSV] WLS[W XLI VIWYPXW SJ EPP MRHMZMHYEP WXVIRKXL XIWXW TPSXXIH MR
XIWXW FIJSVI GSRWXVYGXMSR WXEVXW 'SRGVIXI FEXGLMRK TPERXW WYGGIWWMSRFEWIHSRGEWXMRKHEXIWLS[WXLIZEVMEXMSRFIX[IIR
GSYPHTVIIWXEFPMWLXLMWGSVVIPEXMSRJSVPEXIVVIJIVIRGIIZIRMJ ETEMVSJG]PMRHIVWQEHIJVSQXLIWEQIGSRGVIXIWEQTPI8LI
PEXIVEKI GSRGVIXI QE] RSX FI MQQIHMEXIP] MRZSPZIH MX VIUYMVIHEZIVEKIWXVIRKXLMR*MK[EWIWXEFPMWLIHYWMRK
WLSYPH FI GLIGOIH SGGEWMSREPP] ERH YPXMQEXIP] GLIGOIH )U F XLSYKLMXGSYPHLEZIFIIRIWXEFPMWLIHF])U E
EKEMRWXXLIEGXYEPGSRGVIXIYWIH SV 8EFPI  8LI GLEVX SJXIR EPWS MRGPYHIW XLI WTIGMJMIH
1ER]XMQIWMRXLIIEVP]WXEKIWSJENSFMXMWRIGIWWEV]XS WXVIRKXL8LMWGLEVXMWYWIJYPFIGEYWIMXWLS[WEPPXLIEZEMPEFPI
IWXMQEXIXLIWXVIRKXLSJGSRGVIXIFIMRKTVSHYGIHFIJSVIHE] HEXEFYXMXMWPMQMXIHEXMHIRXMJ]MRKXVIRHWERHWLMJXWMRHEXE
WXVIRKXLVIWYPXWEVIEZEMPEFPI'SRGVIXIG]PMRHIVWWLSYPHFI  1SZMRK EZIVEKI WXVIRKXL{'LEVX F  MR *MK 
QEHIERHXIWXIHJVSQXLIWEQIFEXGLEXHE]WERHMRWSQI WLS[WXLIQSZMRKEZIVEKISJGSRWIGYXMZIXIWXW8LMWX]TISJ
MRWXERGIWIZIREXHE]W8IWXMRKEXIEVP]EKIWYWMRKEGGIPIVEXIH GLEVXVIHYGIWRSMWIERHWGEXXIVMRXLIMRHMZMHYEPXIWXGLEVX
XIWXTVSGIHYVIWWYGLEWJSYRHMR%781'GEREPWSFI 4IVJSVQERGIXVIRHWEVIIEWMP]MHIRXMJMIHERHXLIMRJPYIRGISJ
EHSTXIH8LIHE]WXVIRKXLGERFIIWXMQEXIHSRXLIFEWMW IJJIGXWWYGLEWWIEWSREPGLERKIWERHGLERKIWMRQEXIVMEPW
SJ E TVIZMSYWP] IWXEFPMWLIH GSVVIPEXMSR JSV XLI WTIGMJMG EVI WLS[R QSVI IJJIGXMZIP] 8LI GLEVX SJXIR MRGPYHIW XLI
QM\XYVIYWMRKXLIQIXLSHHIWGVMFIHMR%781''1 WTIGMJMIHWXVIRKXL[LIRXLIQSZMRKEZIVEKISJXLVIIXIWXW
8LIWI IEVP] XIWXW TVSZMHI ER MRHMGEXMSR SRP] SJ EGGITXEFPI MWTPSXXIH
TIVJSVQERGI8IWXWYWIHJSVEGGITXERGITYVTSWIWGSRHYGXIH 8LI QSVI XIWXW YWIH XS GSQTYXI XLI EZIVEKI XLI QSVI
EXHE]WEVIYWYEPP]XLIGSRXVEGXYEPWXERHEVH*MIPHSVNSF TS[IVJYP XLI GLEVX MW JSV MHIRXMJ]MRK XVIRHW 8LIVI MW ER
GYVIHWTIGMQIRW %781' EVIWSQIXMQIWVIGSQQIRHIH SFZMSYWXVEHISJJ[MXLXMQIPMRIWWLS[IZIV%XVIRHWLSYPH
SVVIUYMVIHMRETTPMGEXMSRWWYGLEWJEWXXVEGOGSRWXVYGXMSRSV FIMHIRXMJMIHEWWSSREWTSWWMFPIWSXLEXETTVSTVMEXIGSVVIGXMZI
TSWXXIRWMSRMRK XS EWWYVI XLEX EGGITXEFPI MRTPEGI WXVIRKXL EGXMSRWGERFIXEOIR&IGEYWIXLIQSZMRKEZIVEKISJXLVII
LEW FIIR EXXEMRIH TEVXMGYPEVP] EX IEVP] EKIW WS XLEX XLI GSRWIGYXMZIWXVIRKXLXIWXWMWSRISJXLIGSQTPMERGIGVMXIVMESJ
QIQFIVGERFIWEJIP]PSEHIHSVWXVIWWIHEWWSSREWTSWWMFPI %'-XLMWTEVEQIXIVMWJVIUYIRXP]XVEGOIHSREGSRXVSP
8IWXWSJNSFGYVIHWTIGMQIRWGERFIYWIHXSHIXIVQMRIXLI GLEVX &IGEYWI XVEGOMRK XLI QSZMRK EZIVEKI SJ XLVII XIWXW
XMQISJJSVQVIQSZEPTEVXMGYPEVP]MRGSPH[IEXLIVERH[LIR QE] RSX TVSZMHI WYJJMGMIRX EREP]XMGEP TS[IV XLI QSZMRK
IWXEFPMWLMRKXLIWXVIRKXLSJWXIEQGYVIHGSRGVIXISVGSRGVIXI EZIVEKISJJMZIGSRWIGYXMZIWXVIRKXLXIWXWMWJVIUYIRXP]YWIH
TMTIERHFPSGO*MIPHGYVIHG]PMRHIVWEVIEPWSEGGITXEFPIEW 8LIRYQFIVSJXIWXWEZIVEKIHJSVXLMWGSRXVSPGLEVXERHXLI
E[E]XSIZEPYEXIGYVMRKHSRIF]XLIGSRXVEGXSV*MIPHGYVIH ETTVSTVMEXIMRXIVJIVIRGIPMQMXGERFIZEVMIHXSWYMXIEGLNSF
G]PMRHIVWWLSYPHRSXFIGSRJYWIH[MXLWXERHEVHGYVIHG]PMRHIVW % GSRGVIXI WYTTPMIV [MXL E PEVKI RYQFIV SJ XIWXW JSV E
[LMGLEVITPEGIHYRHIVLMKLP]GSRXVSPPIHGSRHMXMSRW[MXLMR TEVXMGYPEVQM\XYVIGERIPIGXXSXVEGOXLIQSZMRKEZIVEKISJ
HE]WERHXIWXWSJ[LMGLEVIYWIHJSVEGGITXERGITYVTSWIW SVXIWXW%XEVKIXZEPYIGERFIIWXEFPMWLIHFEWIHSRJGV 
;LIVIEWVIUYMVMRKPEVKIEQSYRXWSJHEXEER]XVIRHWHIXIGXIH
{5YEPMX]GSRXVSPGLEVXW [MXLXLMWETTVSEGL[MPPFIWXVSRKERHWLMJXWMREZIVEKIWXVIRKXL
1ER]QERYJEGXYVMRKMRHYWXVMIWYWIUYEPMX]GSRXVSPGLEVXW GERFIIEWMP]HIXIGXIH8LIEZIVEKIWSJERHXIWXWGEREPWS
XS VIHYGI ZEVMEFMPMX] MRGVIEWI TVSHYGXMSR IJJMGMIRG] ERH FIYWIHMRQM\XYVIWYFQMXXEPHSGYQIRXEXMSR
%QIVMGER'SRGVIXI-RWXMXYXI'ST]VMKLXIH1EXIVMEP{[[[GSRGVIXISVK

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