Yogapoint

Yantra Colouring
Book

Compiled By Kate Mandlik

and Janet Woodworth

What is a Yantra? ..................................................................................................................... 01

Gods/Male Energies
Ardharanishwara ...................................................................................................................... 03
Bhairava ................................................................................................................................... 04
Chandra .................................................................................................................................... 05
DaAatreya ................................................................................................................................. 06
Ganesha ................................................................................................................................... 07
Hanuman .................................................................................................................................. 08
Krishna ..................................................................................................................................... 09
Mahamrityunjaya ..................................................................................................................... 10
Narasimha ................................................................................................................................ 11
Rama ........................................................................................................................................ 12
Rudra ........................................................................................................................................ 13
Shiva ......................................................................................................................................... 14
Surya ........................................................................................................................................ 15
Varaha ...................................................................................................................................... 16
Vasudeva .................................................................................................................................. 17
Vishnu ...................................................................................................................................... 18

Goddesses/Female Energies
Bhuvaneshwari ......................................................................................................................... 19
Chandi ...................................................................................................................................... 20
Chhinnamasta .......................................................................................................................... 21
Durga ........................................................................................................................................ 22
Gayatri ...................................................................................................................................... 23
Kali ............................................................................................................................................ 24
Lakshmi .................................................................................................................................... 25
Mahishasuramardini ................................................................................................................ 26
^ĂƌĂƐǁĂƟ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϳ
Tara ........................................................................................................................................... 28
Tripura bhairavi ........................................................................................................................ 29
Tripura sundari ......................................................................................................................... 30

Chakras/Energy Centres
Ajna .......................................................................................................................................... 31
Vishuddhi ................................................................................................................................. 32
Anahata .................................................................................................................................... 33
Manipura .................................................................................................................................. 34
Swadhisthana ........................................................................................................................... 35
Mooladhara .............................................................................................................................. 36

Others
Navagraha ................................................................................................................................ 37
 WHAT IS A YANTRA?
LJĂŶƚƌĂŝƐĂƐƉĞĐŝĮĐĨŽƌŵŽĨŵĂŶĚĂůĂ͘zĂŶƚƌĂƐĂƌĞƐĂĐƌĞĚƚǁŽĚŝŵĞŶƐŝŽŶĂůŝŵĂŐĞƐŽƌƐŽŵĞƟŵĞƐ
ƚŚƌĞĞĚŝŵĞŶƐŝŽŶĂůĐŽŵƉŽƐŝƟŽŶƐŽĨŝŶƚĞƌůĂĐĞĚŐĞŽŵĞƚƌŝĐƐŚĂƉĞƐ͕ĞĂĐŚǁŝƚŚĂƵŶŝƋƵĞƐƚƌƵĐƚƵƌĞ
ƚŚĂƚ ŝƐ ƌĞƉƌĞƐĞŶƚĂƟǀĞ ŽĨ ŝƚƐ ĚŝǀŝŶŝƚLJ ;ŐŽĚͬŐŽĚĚĞƐƐͿ͘ dŚĞLJ ĂƌĞ ǀĞƌLJ ĐŽŵƉůĞdž ĞŶŐŝŶĞƐ ŽĨ ĞŶĞƌŐLJ
ĐŽŶƚĂŝŶŝŶŐ ŵLJƐƟĐĂů ĂƌĐŚĞƚLJƉĂů ĚĞƐŝŐŶƐ͕ ĞŵďĞĚĚĞĚ ǁŝƚŚ ĞŶĞƌŐĞƟĐ ƐŝŐŶĂƚƵƌĞƐ͘ dŚĞ ^ĂŶƐŬƌŝƚ
ŵĂŶƚƌĂƐƚŚĂƚĂƌĞŝŶƐĐƌŝďĞĚŽŶLJĂŶƚƌĂƐĂƌĞŝŶƚŚĞŝƌĞƐƐĞŶĐĞ͚ƚŚŽƵŐŚƚĨŽƌŵƐ͛ƌĞƉƌĞƐĞŶƟŶŐĐŽƐŵŝĐ
ƉŽǁĞƌƐƚŚĂƚĂƌĞĂĐƟǀĂƚĞĚƚŚƌŽƵŐŚƚŚĞƐŽƵŶĚǀŝďƌĂƟŽŶ͘ĞĞƉĐŽŶĐĞŶƚƌĂƟŽŶƵƉŽŶĂLJĂŶƚƌĂĐĂŶ
ůĞĂĚƚŽƚŚĞƌĞĂůŝƐĂƟŽŶŽĨŝƚƐŚŝŐŚĞƌŶĂƚƵƌĞ͘dŚĞǁŽƌĚΖLJĂŶƚƌĂΖŝƐĂ^ĂŶƐŬƌŝƚǁŽƌĚĂŶĚŚĂƐƚǁŽƌŽŽƚƐ͗
ƚƌĂ ĞŵĂŶĂƟŶŐ ĨƌŽŵ ƚƌĂLJĂƟ͕ ŵĞĂŶŝŶŐ ůŝďĞƌĂƟŽŶ͕ ƚŽ ŵĂŬĞ ĨƌĞĞ͕ ƚŽ ĂǁĂŬĞŶ͖ LJĂŶ͕ ŵĞĂŶŝŶŐ
ŝŶƐƚƌƵŵĞŶƚ͕ƐŽŵĞƚŚŝŶŐLJŽƵƵƐĞŝŶŽƌĚĞƌƚŽŵĂŬĞƐŽŵĞƚŚŝŶŐŚĂƉƉĞŶ͘dŚĞƌĞĨŽƌĞ͕ĂLJĂŶƚƌĂŝƐĂŶ
ŝŶƐƚƌƵŵĞŶƚ͕ĂŬĞLJƚŽŽƉĞŶƵƉƉĂƌƟĐƵůĂƌƉĂƌƚƐŽĨƚŚĞŵŝŶĚ͕ĨŽƌƚƵŶŝŶŐŝŶǁŝƚŚĐŽŶƐĐŝŽƵƐŶĞƐƐ͘
ƐƉŝƌŝƚƵĂůŵĂĐŚŝŶĞĨŽƌŝŶĚƵĐŝŶŐƐƚĂƚĞƐŽĨŵĞĚŝƚĂƟŽŶ͘

dŚĞ LJĂŶƚƌĂƐ ǁĞƌĞ ĮƌƐƚ ƌĞĂůŝnjĞĚ ďLJ LJŽŐŝƐ ŝŶ ĚĞĞƉ ƐƚĂƚĞƐ ŽĨ ŵĞĚŝƚĂƟŽŶ͕ ĚƵƌŝŶŐ ƚŚĞŝƌ ĞīŽƌƚƐ ƚŽ
ƵŶĚĞƌƐƚĂŶĚ ƚŚĞ ĐŽƐŵŽƐ ďLJ ĞdžƉĞƌŝĞŶĐŝŶŐ ƚŚĞ ƐƵďƚůĞ ǀŝďƌĂƟŽŶƐ ŽĨ ƚŚĞŝƌ ŽǁŶ ďŽĚŝĞƐ͘ dŚĞ
ƚƌĂŶƐĐĞŶĚĞŶƚĂůŝŵƉƌĞƐƐŝŽŶƐƚŚĞLJǀŝƐƵĂůŝnjĞĚĂƌĞƐLJŵďŽůƐŽĨƚŚĞĨŽƌŵůĞƐƐƌĞĂůŝƚLJƚŚĂƚĞdžŝƐƚƐďĞLJŽŶĚ
ƚŚĞĐŽŶƐĐŝŽƵƐŵŝŶĚĂŶĚďĞLJŽŶĚƚŚĞƐĞŶƐĞƐ͘dŚĞƐĞƐLJŵďŽůƐƚŚĞƌĞĨŽƌĞďĞĐĂŵĞƚŚĞLJĂŶƚƌĂĂŶĚƚŚĞ
ĐŽƌƌĞƐƉŽŶĚŝŶŐƐŽƵŶĚǀŝďƌĂƟŽŶƐĂƌĞƚŚĞŵĂŶƚƌĂƐ͘

dƌĂĚŝƟŽŶĂůůLJ͕ĂLJĂŶƚƌĂǁĂƐĚƌĂǁŶǁŝƚŚƌŝĐĞŇŽƵƌŽŶƚŽƚŚĞŇŽŽƌ͕ǁŝƚŚůŽŶŐĞƌůĂƐƟŶŐŽŶĞƐĞŶŐƌĂǀĞĚ
ŽŶĂĐŽƉƉĞƌŽƌďƌĂƐƐƉůĂƚĞ͕ďƵƚƚŚĞƐĞĚĂLJƐƚŚĞLJŵĂLJďĞƉĂŝŶƚĞĚ͕ĚƌĂǁŶŽƌĞŶŐƌĂǀĞĚŽŶƚŽĂǀĂƌŝĞƚLJ
ŽĨƐƵƌĨĂĐĞƐ͘/ŶdĂŶƚƌĂƚƌĂĚŝƟŽŶĂůůLJƚŚĞƌĞĂƌĞϴĐůĂƐƐŝĐĂůƐƵƌĨĂĐĞƐďĞŝŶŐŐŽůĚ͕ƐŝůǀĞƌ͕ĐŽƉƉĞƌ͕ĐƌLJƐƚĂů͕
ďŝƌĐŚ͕ďŽŶĞ͕ŚŝĚĞ;ǁŚŝĐŚĂůƐŽŝŶĐůƵĚĞƐĂŶLJƚLJƉĞŽĨƉĂƉĞƌͿĂŶĚsŝƐŚŶƵƐƚŽŶĞ͘ŽŵŵŽŶƐŚĂƉĞƐĂŶĚ
ƐLJŵďŽůƐƵƐĞĚŝŶLJĂŶƚƌĂƐĂƌĞĐŝƌĐůĞƐĂŶĚƚƌŝĂŶŐůĞƐǁŝƚŚŝŶĂƐƋƵĂƌĞĨƌĂŵĞǁŽƌŬƚŚĂƚƐLJŵďŽůŝnjĞƐƚŚĞ
ŵĂƚĞƌŝĂů ǁŽƌůĚ ŽĨ ĐƌĞĂƟŽŶ͕ ǁŝƚŚ ƚŚĞ ĨŽƵƌ ĚŝƌĞĐƟŽŶƐ ŽĨ ŶŽƌƚŚ͕ ƐŽƵƚŚ͕ ĞĂƐƚ ĂŶĚ ǁĞƐƚ͘ /ƚ ŝƐ
ƌĞƉƌĞƐĞŶƚĂƟǀĞ ŽĨ ƚŚĞ ǁŽƌůĚ ĂƐ ǁĞ ŬŶŽǁ ŝƚ Žƌ ƚŚĞ ǁŽƌůĚ ŽĨ ƚŚĞ ƐĞŶƐĞƐ͘ dŚĞ ĨŽƵƌ ƐŝĚĞƐ ĂůƐŽ
ƌĞƉƌĞƐĞŶƚƚŚĞĨŽƵƌƉŽƌƚĂůƐƚŽƚŚĞŵŝŶĚ;ŵĂŶĂƐ͕ĐŚŝƩĂ͕ďƵĚĚŚŝĂŶĚĂŚĂŵŬĂƌĂͿĂŶĚƚŚĞƐĞĂƌĞƚŚĞ
ŵĞĂŶƐďLJǁŚŝĐŚǁĞĞdžƉĞƌŝĞŶĐĞƚŚĞǁŽƌůĚĂƌŽƵŶĚƵƐ͘

dŚĞ ƐƋƵĂƌĞ ĐŽŵƉŽŶĞŶƚ ĂůƐŽ ƐLJŵďŽůŝnjĞƐ Ă ƚĞŵƉůĞ ĂƐ ƚŚŝƐ ŝƐ ƚŚĞ ĨƌĂŵĞǁŽƌŬ Žƌ ŚŽƵƐŝŶŐ ĨŽƌ Ă
ƉĂƌƟĐƵůĂƌĚŝǀŝŶŝƚLJ͘dŚĞƐƋƵĂƌĞ͕ďĞŝŶŐĂƐƐŽĐŝĂƚĞĚǁŝƚŚƚŚĞĞĂƌƚŚĞůĞŵĞŶƚ͕ƚŚĞƌĞĨŽƌĞĐŽŶŶĞĐƚƐƚŚŝƐ
ƐƚƌĞĂŵŽĨĚŝǀŝŶŝƚLJƚŽƚŚĞƉŚLJƐŝĐĂůǁŽƌůĚ͘tŝƚŚŝŶƚŚĞĨƌĂŵĞŽĨƚŚĞƐƋƵĂƌĞ͕ƚŚĞƌĞŝƐŽŌĞŶĂĐŝƌĐůĞ
ǁŚŝĐŚƌĞƉƌĞƐĞŶƚƐƚŚĞĐŝƌĐůĞŽĨůŝĨĞ͕ĐŽŶƟŶƵŽƵƐƌĞďŝƌƚŚĂŶĚŝŶĮŶŝƚLJ͘

dƌŝĂŶŐůĞƐĂƌĞĂůƐŽŝŶƐŝĚĞƚŚĞĐŝƌĐůĞŝŶĚŝīĞƌĞŶƚĨŽƌŵĂƟŽŶƐ͘dŚĞĚŽǁŶǁĂƌĚƐƉŽŝŶƟŶŐƚƌŝĂŶŐůĞƐĂƌĞ
ƌĞƉƌĞƐĞŶƚĂƟǀĞŽĨĞŶĞƌŐLJŽƌ^ŚĂŬƟʹƚŚĞŵĂƚĞƌŝĂůǁŽƌůĚ͕ƚŚĞŝĚĞŶƟƚLJ͕ƟŵĞĂŶĚƐƉĂĐĞ͘hƉǁĂƌĚƐ
ƉŽŝŶƟŶŐƚƌŝĂŶŐůĞƐƌĞƉƌĞƐĞŶƚĐŽŶƐĐŝŽƵƐŶĞƐƐ͖ĂŶĚǁŚĞŶƚŚĞLJĂƌĞŝŶƚĞƌůĂĐĞĚ͕ƚŚĞLJƌĞƉƌĞƐĞŶƚĞŶĞƌŐLJ
ŵĞƌŐŝŶŐǁŝƚŚĐŽŶƐĐŝŽƵƐŶĞƐƐ͖ŽƌƚŚĞƵŶŝŽŶŽĨŵĂƐĐƵůŝŶĞĂŶĚĨĞŵŝŶŝŶĞ͘dŚĞLJĂůƐŽƚĞůůƚŚĞƐƚŽƌLJŽĨ
ŚŽǁĂůƚŚŽƵŐŚŽŶĞĐĂŶĞdžŝƐƚŝŶƚŚŝƐƉŚLJƐŝĐĂůǁŽƌůĚ͖ƚŚĞƚƌĂŶƐĐĞŶĚĞŶƚĂůƌĞĂůŝƚLJďĞLJŽŶĚƚŚŝƐƌĞĂůŵŝƐ
ƐƟůůĂǀĂŝůĂďůĞƚŽĞdžƉĞƌŝĞŶĐĞŝĨŽŶĞŬĞĞƉƐĂƩĞŶƟŽŶŽŶƚŚĞƐŽƵƌĐĞ͕ǁŚŝĐŚŝƐƐLJŵďŽůŝnjĞĚďLJƚŚĞƟƉ
ŽĨƚŚĞƚƌŝĂŶŐůĞƉŽŝŶƚĞĚƵƉǁĂƌĚƐ͘

01
These examples of shapes and their meanings are only common threads and each yantra has its
ŽǁŶŝŶƚĞƌƉůĂLJďĞƚǁĞĞŶƚŚĞĚŝīĞƌĞŶƚƐŚĂƉĞƐ͕ƚĞůůŝŶŐŝƚƐŽǁŶƵŶŝƋƵĞƐƚŽƌLJŽĨĚŝǀŝŶŝƚLJ͘dŚĞƌĞŵĂLJ
ďĞůŽƚƵƐƉĞƚĂůƐĂŶĚŽƚŚĞƌŝŵĂŐĞƐĂůƐŽ͘

dŚĞĐŽƉLJŝŶŐĂŶĚĐŽůŽƵƌŝŶŐŝŶŽĨLJĂŶƚƌĂƐŝƐĂǁĂLJƚŽĐƌĞĂƚĞŽƌĚĞƌŝŶŽƵƌůŝǀĞƐĂŶĚƚŽĐŚĂŶŐĞŽƵƌ
ǁĂLJŽĨƚŚŝŶŬŝŶŐ͕ŽƵƌĞŵŽƟŽŶƐ ĂŶĚŽƵƌƉĞƌƐŽŶĂůŝƚLJǁŚŝĐŚ ŵĂŶŝĨĞƐƚƐŝŶ ŽƵƌƌĞůĂƟŽŶƐŚŝƉ ƚŽƚŚĞ
ŽƵƚƐŝĚĞ ǁŽƌůĚ͘ tŽƌŬŝŶŐ ǁŝƚŚ LJĂŶƚƌĂƐ ŝƐ Ă ǁĂLJ ƚŽ ƵŶĨŽůĚ ĚĞĞƉĞƌ ĂŶĚ ŚŝŐŚĞƌ ůĞǀĞůƐ ŽĨ
ĐŽŶƐĐŝŽƵƐŶĞƐƐ͘

tŚĞŶǁĞƉƌĂĐƟƐĞLJŽŐĂ͕ĞǀĞŶƚŚĞĐŽůŽƵƌŝŶŐŽĨĂLJĂŶƚƌĂ͕ǁĞĞŶƚĞƌĂƉƌŽĐĞƐƐǁŚŝĐŚĐŚĂŶŐĞƐŽƵƌ
ĐŽŶƐĐŝŽƵƐŶĞƐƐ͘/ŶƐƚĞĂĚŽĨďĞŝŶŐĚŝƌĞĐƚĞĚƚŽǁĂƌĚƐƚŚĞŽƵƚƐŝĚĞǁŽƌůĚ͕ŝŶƚĞůůĞĐƚĂŶĚŵĂƚĞƌŝĂůŝƐŵ͕ŝƚ
ŝƐŝŶƐƚĞĂĚƚƵƌŶĞĚƚŽǁĂƌĚƐƚŚĞŝŶŶĞƌǁŽƌůĚ͕ǁŝƐĚŽŵĂŶĚƚŚĞĞǀĞƌůĂƐƟŶŐ͘

HOW TO USE THIS BOOK

dŚĞƌĞĂƌĞŵĂŶLJŽƉƟŽŶƐǁĞŵĂLJĐŚŽŽƐĞ͕ǁŝƚŚƚŚĞƐŝŵƉůĞƐƚďĞŝŶŐƚŚĂƚǁĞĐŽůŽƵƌƚŚĞLJĂŶƚƌĂƐǁŝƚŚ
ǁŚĂƚĞǀĞƌĐŽůŽƵƌƐǁĞĨĞĞůĚƌĂǁŶƚŽ͘^ĞĐŽŶĚŝƐƚŚĂƚǁĞŵĂLJĐŽůŽƵƌƚŚĞŵĂƐƉĞƌƚŚĞĂĐĐŽŵƉĂŶLJŝŶŐ
ƉŝĐƚƵƌĞ͘

dŽĚĞĞƉĞŶƚŚĞĞdžƉĞƌŝĞŶĐĞǁĞŵĂLJƉƌĂĐƟĐĞŵĞĚŝƚĂƟŽŶŽƌďƌĞĂƚŚŝŶŐďĞĨŽƌĞĐŽůŽƵƌŝŶŐƚŚĞLJĂŶƚƌĂ͘
dŽĞdžƚĞŶĚƚŚĂƚĞdžƉĞƌŝĞŶĐĞǁĞŵĂLJĐŚĂŶƚƚŚĞƐƉĞĐŝĮĐŵĂŶƚƌĂĨŽƌĞĂĐŚŝŶĚŝǀŝĚƵĂůLJĂŶƚƌĂǁŚŝůƐƚǁĞ
ĐŽůŽƵƌ͘ dŚŝƐ ŵĂLJ ďĞ ŽƵƚ ůŽƵĚ Žƌ ŵĞŶƚĂůůLJ͘ KŶĐĞ ǁĞ ŚĂǀĞ ĮŶŝƐŚĞĚ ƚŚĞ LJĂŶƚƌĂ ǁĞ ŵĂLJ ƉƌĂĐƟĐĞ
ŵĞĚŝƚĂƟŽŶŽƌƚƌĂƚĂŬŽŶƚŚĞLJĂŶƚƌĂ͘

02
 $5'+$5$1,6+:$5$

2P
ƌĚŚĂƌĂŶŝƐŚǁĂƌĂ ŝƐ ^ŚŝǀĂ ĂŶĚ ^ŚĂŬƟ ƵŶŝƚĞĚ ŝŶ ŽŶĞ ĨŽƌŵ͕
ƌĞƉƌĞƐĞŶƟŶŐƚŚĞĐƌĞĂƟǀĞƉƌŝŶĐŝƉůĞ͕ƚŚĞƐƚĂƚĞŽĨLJŽŐĂ͕ĂŶĚƚŚĞ
ŶŽƟŽŶ ƚŚĂƚ ĞǀĞƌLJƚŚŝŶŐ ŝŶ ĐƌĞĂƟŽŶ ĐŽŶƚĂŝŶƐ ƚŚĞ ƵŶŝƚLJ ŽĨ
ŵĂƐĐƵůŝŶĞ ĂŶĚ ĨĞŵŝŶŝŶĞ ƉƌŝŶĐŝƉůĞƐ͘ ƌĚŚĂƌĂŶŝƐŚǁĂƌĂ ŝƐ ƚŚĞ
ĞdžƉůŽƐŝŽŶŽĨĐŽŶƐĐŝŽƵƐŶĞƐƐ͕ƚŚĞƵŶŝƚLJŝŶŚĞƌĞŶƚŝŶĚƵĂůŝƚLJ͘


03
05
 %+$,5$9$

2P+ULP9DWXND\D1DPDK+ULP
ŚĂŝƌĂǀĂ͕ ĂŶ ĂƐƉĞĐƚ ŽĨ ^ŚŝǀĂ͕ ŝƐ ĂůƐŽ ŚŝƐ ƐĞĐƵƌŝƚLJ ŽĸĐĞƌ͘ ,Ğ
ƌĞƉƌĞƐĞŶƚƐ ƚŚĞ ƐƚĂƚĞ ŽĨ ĐŽŶƐĐŝŽƵƐŶĞƐƐ ƚŚĂƚ ƉƌĞĐĞĚĞƐ ƚŚĞ
ƵůƟŵĂƚĞ ĞdžƉĞƌŝĞŶĐĞ ŽĨ ƚŚĞ ƵŶŝǀĞƌƐĂů ĐŽŶƐĐŝŽƵƐŶĞƐƐ Žƌ ^ŚŝǀĂ͘
ŚĂŝƌĂǀĂŝƐƚŚĞŝŶƚĞŶƐŝƚLJŽĨƉŝŶŝŶŐĨŽƌƵŶŝŽŶǁŝƚŚƚŚĞƐŽƵƌĐĞ͘


04
06
 &+$1'5$

6DXP6RPD\D1DPDK6DXP

dŚĞŵŽŽŶŐŽĚŚĂŶĚƌĂŝƐĐĞůĞďƌĂƚĞĚĂƐĂĐŚŝůĚŽĨƚŚĞŽĐĞĂŶ͘,Ğ
ƌĞƉƌĞƐĞŶƚƐ ŵĞŶƚĂů ĞŶĞƌŐLJ͘ ,Ğ ŝƐ ƚŚĞ ůŽƌĚ ŽĨ ƉůĂŶƚƐ ĂŶĚ ƚŚĞ
ƐŽƵƌĐĞŽĨĐŽŽů͕ŶĞĐƚĂƌͲůŝŬĞƌĂLJƐŽĨůŝŐŚƚ͘


05
09
 '$77$75(<$

2P+ULP'UDP'DWWDWUH\D\D1DPDK
'UDP+ULP2P'UDP¬
ĂƩĂƚƌĞLJĂ͕ƚŚĞĮƌƐƚĂǀĂĚŚŽŽƚĂ͕ŝƐƚŚĞƐŽŶŽĨƚŚĞŐƌĞĂƚƐĂŐĞƚƌŝ
ĂŶĚŚŝƐǁŝĨĞŶƵƐƵLJĂ͕ĂŵŽĚĞůŽĨĐŚĂƐƟƚLJ͘,ĞŝƐĂŶŝŶĐĂƌŶĂƟŽŶ
ŽĨ ƚŚĞ ƚƌŝŶŝƚLJ ŽĨ ƌĂŚŵĂ͕ sŝƐŚŶƵ ĂŶĚ ^ŚŝǀĂ ĂŶĚ ƌĞĐĞŝǀĞĚ ŚŝƐ
ƐƉŝƌŝƚƵĂůŐƵŝĚĂŶĐĞĨƌŽŵƚŚĞƚǁĞŶƚLJͲĨŽƵƌŐƵƌƵƐŽĨŶĂƚƵƌĞ͘


06
12
 *$1(6+$

2P*DP*DQDSDWD\H1DPDK*DP

dŚĞ ĞůĞƉŚĂŶƚͲŚĞĂĚĞĚ ƐŽŶ ŽĨ ^ŚŝǀĂ ĂŶĚ WĂƌǀĂƟ͕ 'ĂŶĞƐŚĂ ŝƐ

ǁŽƌƐŚŝƉƉĞĚĮƌƐƚŝŶĂŶLJƉƌĂLJĞƌĂŶĚďĞĨŽƌĞĂŶLJŶĞǁƵŶĚĞƌƚĂŬŝŶŐ͘
tŝƚŚ'ĂŶĞƐŚĂ͛ƐŐƌĂĐĞ͕ĞǀĞƌLJƚŚŝŶŐĐĂŶďĞĂĐŚŝĞǀĞĚ͘,ĞŝƐƚŚĞ
ŐŽĚ


07
13
 +$180$1

2P6UL+DQXPDWH1DPDK+XP

,ĂŶƵŵĂŶŝƐƚŚĞĂǀĂƚĂƌĂŽĨ>ŽƌĚ^ŚŝǀĂďŽƌŶŽĨƚŚĞǁŝŶĚŐŽĚ͕
WĂǁĂŶĞǀĂ͘,ĞŝƐƚŚĞƐLJŵďŽůŽĨĚĞǀŽƟŽŶ͕ƐƚƌĞŶŐƚŚĂŶĚƐĞůŇĞƐƐ
ĂĐƟŽŶ͕ĂŶĚŝƐŚƵŵďůĞ͕ďƌĂǀĞĂŶĚǁŝƐĞ͘,ĞůŝǀĞĚƚŽƐĞƌǀĞ>ŽƌĚ
ZĂŵĂĂŶĚĐƌŽƐƐĞĚƚŚĞŽĐĞĂŶďLJƐŝŵƉůLJƵƩĞƌŝŶŐZĂŵĂ͛ƐŶĂŵĞ͘


08
15
 .5,6+1$

.UP.UVQD\D1DPDK.UP

ZĞŐĂƌĚĞĚĂƐĂĐŽŵƉůĞƚĞŵĂŶŝĨĞƐƚĂƟŽŶŽĨsŝƐŚŶƵ͕<ƌŝƐŚŶĂŝƐĂ
ĚLJŶĂŵŝĐĂǀĂƚĂƌĂ͕ĂƉůĂLJĨƵůĐŚŝůĚ͕ƚŚĞďĞůŽǀĞĚŽĨƚŚĞŐŽƉŝƐ͕ĂŶĚ
ũŽLJŝŶĐĂƌŶĂƚĞ͘,ĞŝƐĂůƐŽƚŚĞƐƵƉƌĞŵĞĐŽŶƐĐŝŽƵƐŶĞƐƐŝŶƚŽǁŚŝĐŚ
ĞǀĞƌLJƚŚŝŶŐĚŝƐƐŽůǀĞƐ͘


09
17
 0$+$05,7<81-$<$

¬
2P7U\DPEDNDP<DMDPDKH
6XJDQGKLP¬3XVWLYDUGKDQDP
8UYDUXNDPLYD%DQGKDQDW
¬0U\W\RUPXNVL\D0DPULWDW7U\DP
DĂŚĂŵƌŝƚLJƵŶũĂLJĂ ;^ŚŝǀĂͿ ŝƐ ƚŚĞ ŽŶĞ ǁŚŽ ŝƐ ǀŝĐƚŽƌŝŽƵƐ ŽǀĞƌ
ĚĞĂƚŚ͘ ,Ğ ŝƐ ǁŽƌƐŚŝƉƉĞĚ ƚŽ ƌĞŵŽǀĞ ĚŝƐĞĂƐĞ͕ ŶĞŐĂƟǀŝƚLJ͕
ďĞƐƚŽǁŽǀĞƌĂůů ǁĞůůͲďĞŝŶŐ ĂŶĚ ĐŽŶƋƵĞƌ ĚĞĂƚŚ͘ ,Ğ ŝƐ ĞŝŐŚƚͲ
ĂƌŵĞĚ͕ĐĂƌƌŝĞƐĂƌƵĚƌĂŬƐŚĂŵĂůĂĂŶĚƉŽƵƌƐĂŵƌŝƚĨƌŽŵǁĂƚĞƌ
ƉŽƚƐ͕ƐLJŵďŽůŝnjŝŶŐƚŚĞĐŽŶƐƚĂŶƚĐLJĐůĞŽĨƌĞũƵǀĞŶĂƟŽŶ͘


10
35
21
 1$5$6,0+$

-D\D-D\D6ULQUVLPKD.VUDXP.VUDXP

sŝƐŚŶƵ ŝŶ ƚŚĞ ĨŽƌŵ ŽĨ EĂƌĂƐŝŵŚĂ ;ŚĂůĨͲŵĂŶ͕ ŚĂůĨͲůŝŽŶͿ͕

ƌĞƉƌĞƐĞŶƚƐƚŚĞĞǀŽůƵƟŽŶŽĨƚŚĞĂŶŝŵĂůƚŽƚŚĞŚƵŵĂŶ͕ĂŶĚƚŚĞ
ĚĞǀĞůŽƉŵĞŶƚŽĨĐŽŶƐĐŝŽƵƐŶĞƐƐĨƌŽŵƉƵƌĞŝŶƐƟŶĐƚƚŽŵĂƚĞƌŝĂů
ĂŶĚ ƐĞŶƐŽƌLJ ĂǁĂƌĞŶĞƐƐ͘ EĂƌĂƐŝŵŚĂ ĐĂŵĞ ƚŽ ĨƌĞĞ ƚŚĞ ǁŽƌůĚ
ĨƌŽŵƚŚĞŽƉƉƌĞƐƐŝŽŶŽĨƚŚĞĚĞŵŽŶ,ŝƌĂŶLJĂŬĂƐŚŝƉƵ͘


11
10
24
 5$0$

5DP5DPD\D1DPDK5DP

sŝƐŚŶƵŝŶƚŚĞĨŽƌŵŽĨZĂŵĂ͕ŝƐƚŚĞŶŽďůĞĞdžĂŵƉůĞŽĨŚŽǁƚŽĨĂĐĞ
ůŝĨĞ ĂŶĚ ďĞ ƚŚĞ ŝĚĞĂů ƐŽŶ͕ ďƌŽƚŚĞƌ͕ ŬŝŶŐ͕ ŚƵƐďĂŶĚ ĂŶĚ ĨƌŝĞŶĚ͘
dŚŽƵŐŚĂŶĂǀĂƚĂƌĂ͕ZĂŵĂĞdžƉĞƌŝĞŶĐĞĚĂůůƚŚĞũŽLJƐĂŶĚƐŽƌƌŽǁƐ
ŽĨŚƵŵĂŶĞdžŝƐƚĞŶĐĞ͕LJĞƚƌĞŵĂŝŶĞĚĂŶĞŵďŽĚŝŵĞŶƚŽĨĚŚĂƌŵĂ͘


12
03
11
25
 58'5$

2P1DPR%KDJDYDWH5XGUD\D

tŚĞŶ ƚŚĞ ŵŝŶĚͲďŽƌŶ ƐĂŐĞƐ ƌĞĨƵƐĞĚ ƚŽ ĐŽŶƟŶƵĞ ĐƌĞĂƟŽŶ͕

ƌĂŚŵĂ͛Ɛ ĨƵƌLJ ďƌŽƵŐŚƚ ĨŽƌƚŚ ZƵĚƌĂ ĂƐ ƚŚĞ ƉŽǁĞƌĨƵů ĐƌĞĂƟǀĞ
ĨŽƌĐĞ͘ZƵĚƌĂŝƐƚŚĞĨƌŵŽĨ^ŚŝǀĂĂƐƐŽĐŝĂƚĞĚǁŝƚŚŚŽǁůŝŶŐ͘,Ğ
ĞdžƉƌĞƐƐĞƐƚŚĞŐĞƐƚƵƌĞŽĨƉƌŽƚĞĐƟŽŶĂŶĚŐŝǀĞƐŶƐ͘


13
12
26
 6+,9$

2P1DPDK6LYD\D

^,/sŝƐƚŚĞĂƵƐƉŝĐŝŽƵƐŽŶĞ͕ĚĞƐƚƌŽLJĞƌŽĨƚŚĞĞŐŽĂŶĚĚƵĂůŝƚLJ͘/Ŷ
ƚŚĞ ,ŝŶĚƵ ƚƌŝŶŝƚLJ͕ ^ŚŝǀĂ ŝƐ ƚŚĞ ƚƌĂŶƐĨŽƌŵĞƌ͘ >ŽƌĚ ŽĨ LJŽŐŝƐ͕
ĂƌĐŚĞƚLJƉĂů ƌĞŶƵŶĐŝĂƚĞ͕ ĐŽŶƐŽƌƚ ŽĨ WĂƌǀĂƟ͕ ĂŶĚ ƚŚĞ ƐƵƉƌĞŵĞ
ŐŽĚ͕ŚĞŝƐƚŚĞƐLJŵďŽůŽĨĐŽƐŵŝĐĐŽŶƐĐŝŽƵƐŶĞƐƐ͘


14
13
27
 685<$

2P*KUQLK6XU\D$GLW\DK$P

^ƵƌLJĂ͕ƚŚĞ^ƵŶŐŽĚ͕ƌĞƉƌĞƐĞŶƚƐůŝĨĞ͕ƉƌĂŶŝĐĞŶĞƌŐLJĂŶĚŝƐƚŚĞ
ƐLJŵďŽůŽĨƚŚĞĂƚŵĂ͘,ĞĚĞƐƚƌŽLJƐĂůůĞŶĞŵŝĞƐ͕ĨƌĞĞƐŽŶĞĨƌŽŵĂůů
ƐŝŶƐ͕ ďƌŝŶŐƐ ƉƌŽƐƉĞƌŝƚLJ ĂŶĚ ďĞƐƚŽǁƐ ůŽŶŐ ůŝĨĞ͘ ^ƵƌLJĂ ŝƐ
ǁŽƌƐŚŝƉƉĞĚĂƚĚĂǁŶ͕ŶŽŽŶ͕ĂŶĚĚƵƐŬďLJĐŚĂŶƟŶŐƚŚĞ'ĂLJĂƚƌŝ
ŵĂŶƚƌĂ͘


15
14
29
 9$5$+$

2P1DPR%KDJDYDWH9DUDKD\D+XP

sŝƐŚŶƵ ŝŶ ƚŚĞ ĨŽƌŵ ŽĨ sĂƌĂŚĂ ;ƚŚĞ ďŽĂƌͿ͕ ƌĞƉƌĞƐĞŶƚƐ ƚŚĞ
ƚƌĂŶƐŝƟŽŶĨƌŽŵƚŚĞƐƵďĐŽŶĐŝŽƵƐƚŽƚŚĞĐŽŶƐĐŝŽƵƐ͕ĂŶĚĂůƐŽƚŚĞ
ƚĂŵĂƐŝĐƐƚĂƚĞŽĨĐƌĞĂƟŽŶǁŚĞƌĞƚŚĞĞĂƌƚŚďĞĐŽŵĞƐƐŽůŝĚŝĮĞĚ͘
sĂƌĂŚĂĐĂŵĞƚŽƌĞƐĐƵĞƚŚĞĞĂƌƚŚ͕ǁŚŝĐŚŚĂĚďĞĞŶƐƵďŵĞƌŐĞĚ
ŝŶƚŽƚŚĞǁĂƚĞƌƐďLJƚŚĞĚĞŵŽŶ,ŝƌĂŶLJĂŬƐŚĂ͘


16
15
36
 9$68'(9$

2P1DPR%KDJDYDWH9DVXGHYD\D

WĂƌĂsĂƐƵĚĞǀĂƌĞƉƌĞƐĞŶƚƐƚŚĞƚƌĂŶƐĐĞŶĚĞŶƚĂůĨŽƌŵŽĨsŝƐŚŶƵ͘
,ĞƌĞƐƚƐŽŶĚŝ^ŚĞƐŚĂ͕ƚŚĞƐĞƌƉĞŶƚƐƵƉƉŽƌƟŶŐƚŚĞ'ŽĚŚĞĂĚ͘
,Ğ ŝƐ ƌĞƉůĞƚĞ ǁŝƚŚ ũŶĂŶĂ ;ǁŝƐĚŽŵͿ͕ ĂŝƐŚǀĂƌLJĂ ;ƐŽǀĞƌĞŝŐŶŝƚLJͿ͕
ƐŚĂŬƟ;ƉŽǁĞƌͿ͕ďĂůĂ;ƐƚƌĞŶŐƚŚͿ͕ǀŝƌLJĂ;ǀĂůŽƵƌͿĂŶĚƚĞũĂƐ;ůƵƐƚƌĞͿ͘
,ŝƐĨŽƌŵŝƐĨŽƌƚŚĞĞŶũŽLJŵĞŶƚŽĨƚŚĞŐŽĚƐĂŶĚŽƚŚĞƌƐĞůĨͲƌĞĂůŝnjĞĚ
ƐŽƵůƐ͘


17
16
37
 9,6+18

2P1DPR1DUD\DQD\D
2P
sŝƐŚŶƵ ŝƐ ƚŚĞ ƉƌĞƐĞƌǀĞƌ ĂŶĚ ƐƵƐƚĂŝŶĞƌ ŽĨ ƚŚĞ ƵŶŝǀĞƌƐĞ͘ ,Ğ ŝƐ
ĨĂƚŚĞƌ͕ ŵŽƚŚĞƌ͕ ĨƌŝĞŶĚ͕ ŐƵƌƵ͖ ŚĞ ďĞƐƚŽǁƐ ǁĞůĨĂƌĞ ƵƉŽŶ ƚŚĞ
ǁŽƌůĚ͕ ŝƐ Ă ĨƌŝĞŶĚ ƚŽ ƚŚĞ ƌŝŐŚƚĞŽƵƐ ĂŶĚ Ă ĐŽŵƉĂƐƐŝŽŶĂƚĞ
ƉƌŽƚĞĐƚŽƌ͘,ĞŝƐEĂƌĂLJĂŶĂĂŶĚƉĞƌǀĂĚĞƐĞǀĞƌLJƚŚŝŶŐ͘


18
17
35
 %+89$1(6+:$5,

$LP+ULP6ULP
ŚƵǀĂŶĞƐŚǁĂƌŝŝƐƚŚĞŵĂŶŝĨĞƐƚĞdžƉƌĞƐƐŝŽŶŽĨƚŚĞƚŚƌĞĞƌĞĂůŵƐ͘
^ŚĞ ŝƐ ďŽƚŚ ŵĂLJĂ Žƌ ŝůůƵƐŝŽŶ ĂŶĚ ŬŶŽǁůĞĚŐĞ͘ ^ŚĞ ŝƐ ƐĞůĨͲ
ŝůůƵŵŝŶĞĚƐƉĂĐĞƚŚĂƚĐƌĞĂƚĞƐƚŚĞŵĂŶŝĨĞƐƚǁŽƌůĚ͖ƐŚĞŚŽůĚƐƚŚĞ
ǁŽƌůĚŝŶŚĞƌƐĞůĨ͕ĂŶĚŶƵƌƚƵƌĞƐĂŶĚƉƌŽƚĞĐƚƐŝƚ͘


19
18
07
 &+$1',

$LP+ULP.OLP
&KDPXQGD\DL9LFKFKH¬$LP
ƵƌŐĂĂƐƐƵŵĞƐƚŚĞĮĞƌĐĞĨŽƌŵŽĨŚĂŶĚŝƚŽƌĞŵŽǀĞĞǀŝůĨƌŽŵ
ƚŚĞ ǁŽƌůĚ ĂŶĚ ƌĞƐƚŽƌĞ ƌŝŐŚƚĞŽƵƐŶĞƐƐ͘ ŚĂŶĚŝ ŝƐ ƚŚĞ ƉŽǁĞƌ
ŝŶǀŽŬĞĚƚŽĚĞƐƚƌŽLJƚŚĞŶĞŐĂƟǀĞƚĞŶĚĞŶĐŝĞƐŽĨƚŚĞŵŝŶĚ͘^ŚĞŝƐ
ƚŚĞƚƌĂŶƐĨŽƌŵĂƟǀĞƉŽǁĞƌŽĨĚŝǀŝŶŝƚLJƚŚĂƚĐŽŶƋƵĞƌƐƚĂŵĂƐ͘


20
19
08
 &++,11$0$67$

+XP+XP

ŚŚŝŶŶĂŵĂƐƚĂŝƐƚŚĞĨŽƌĐĞƚŚƌŽƵŐŚǁŚŝĐŚƚŚĞŐƌŽƐƐ͕ƐƵďƚůĞĂŶĚ
ĐĂƵƐĂůůĞǀĞůƐĂƌĞƐĞǀĞƌĞĚŽƌƚƌĂŶƐĐĞŶĚĞĚƐŽƚŚĂƚŵĂŚĂƉƌĂŶĂ͕
ƚŚĞƉƌŝŵŽƌĚŝĂůĞŶĞƌŐLJ͕ŝƐĞdžƉĞƌŝĞŶĐĞĚ͘^ŚĞƌĞƉƌĞƐĞŶƚƐƚŚĞƐƚĂƚĞ
ŝŶǁŚŝĐŚ ĂůůĞdžƉĞƌŝĞŶĐĞƐŽĨŵŝŶĚ͕ŝŶƚĞůůĞĐƚ͕ŵĞŵŽƌLJĂŶĚĞŐŽ
ĐĞĂƐĞ͘


21
34
10
 '85*$

2P'XP'XUJD\DL1DPDK'XP

ƵƌŐĂ ŝƐ ƚŚĞ ĞƚĞƌŶĂů ƐŚĂŬƟ ŽĨ ^ŚŝǀĂ ĂŶĚ ƚŚĞ ŝŶĞdžŚĂƵƐƟďůĞ
ĨŽƵŶƚĂŝŶŽĨĚŝǀŝŶĞůŽǀĞĂŶĚďĞƐƚŽǁĞƌŽĨŐůŽƌLJ͘^ŚĞŝƐƚŚĞƐLJŵďŽů
ŽĨƐƵƉĞƌĐŽŶƐĐŝŽƵƐŶĞƐƐ͕ƚŚĞĐƌĞĂƟǀĞ͕ƉƌĞƐĞƌǀŝŶŐĂŶĚƉƌŽƚĞĐƟŶŐ
ƉƌŝŶĐŝƉůĞŝŶƚŚĞĐƌĞĂƚĞĚǁŽƌůĚ͘


22
20
11
 *$<$75,

2P%KXUEKXYDK6YDK
7DWVDYLWXUYDUHQ\DP%KDUJR'HYDV\D
'ĂLJĂƚƌŝ ŝƐ ƚŚĞ ŵŽƚŚĞƌ ŽĨ ƚŚĞ sĞĚĂƐ͘ ^ŚĞ ƌĞƉƌĞƐĞŶƚƐ ƚŚĞ
ŬŶŽǁůĞĚŐĞƌĞǀĞĂůĞĚŝŶƚŚĞsĞĚĂƐ͘,ĞƌŶĂƚƵƌĞŝƐƉƵƌĞďůŝƐƐ͖ƐŚĞŝƐ
ƚŚĞ ƉƌĞƐŝĚŝŶŐ ĚĞŝƚLJ ŽĨ ƌĂŚŵĂ ƚĞũĂƐ͕ ƚŚĞ ďƌŝůůŝĂŶĐĞ ŽĨ
ƐƵƉĞƌĐŽŶƐĐŝŽƵƐŶĞƐƐ͘


23
21
14
 .$/,

$LP+ULP6ULP.OLP.DOLNH$LP+ULP
6ULP.OLP.OLP
<ĂůŝŝƐƚŚĞƐŚĂŬƟŽĨDĂŚĂŬĂĂů;^ŚŝǀĂͿ͕ƚŚĞĚĞƐƚƌŽLJĞƌŽĨƟŵĞ͕ĂŶĚ
ƚŚĞĮƌƐƚŵĂŶŝĨĞƐƚĂƟŽŶŽĨƚŚĞƵŶĐŽŶƐĐŝŽƵƐŬƵŶĚĂůŝŶŝ͘ůƚŚŽƵŐŚ
ƚĞƌƌŝďůĞ ƚŽ ďĞŚŽůĚ͕ ƐŚĞ ŝƐ Ă ďĞŶŝŐŶ ĂŶĚ ĐŽŵƉĂƐƐŝŽŶĂƚĞ
ƉƌŽƚĞĐƚŽƌ͕ƌĞŵŽǀŝŶŐĞǀĞƌLJǀĞŝůŽĨŝŐŶŽƌĂŶĐĞĨƌŽŵƚŚĞĚĞǀŽƚĞĞ
ǁŚŽƐƵƌƌĞŶĚĞƌƐƚŽŚĞƌ͘


24
22
16
 /$.6+0,

2P6ULP0DKDODNVP\DL1DPDK6ULP

>ĂŬƐŚŵŝ͕ƚŚĞŐŽĚĚĞƐƐŽĨǁĞĂůƚŚĂŶĚƉƌŽƐƉĞƌŝƚLJ͕ŝƐƚŚĞ^ŚĂŬƟŽĨ
sŝƐŚŶƵ͕ ƚŚĞ ƉƌĞƐĞƌǀĞƌ͘ ǀĞƌLJ ŬŝŶĚ ŽĨ ŵĂŐŶŝĮĐŝĞŶĐĞ ĂŶĚ ũŽLJ͕
ĞdžĂůƚĂƟŽŶĂŶĚŐĞĂƚŶĞƐƐĂƌĞĚƵĞƚŽŚĞƌŐƌĂĐĞ͘^ŚĞŝƐĐĂůŵĂŶĚ
ƐĞƌĞŶĞ͕ƚŚĞŽŶĞǁŚŽŚĞůƉƐĐŽŶƋƵĞƌƌĂũĂƐĂŶĚůĞĂĚƐƵƐƚŽǁĂƌĚƐ
ƐĂƩǁĂ͘


25
23
18
 0$+,6+$685$0$5',1,

0DKLVD0DUGLQL6YDKD0DP

DĂŚŝƐŚĂƐƵƌĂŵĂƌĚŝŶŝ͕ ƚŚĞ ĨŽƌŵ ŽĨ ƵƌŐĂ ĐƌĞĂƚĞĚ ĨƌŽŵ ƚŚĞ

ĐŽŵďŝŶĞĚ ƉŽǁĞƌ ŽĨ Ăůů ƚŚĞ ŐŽĚƐ͕ ĐŽŵĞƐ ƚŽ ĚĞƐƚƌŽLJ
DĂŚŝƐŚĂƐƵƌĂ͕ƚŚĞĚĞŵŽŶ͘^ŚĞŝƐƚŚĞŽŵŶŝƉŽƚĞŶƚƉŽǁĞƌǁŚŝĐŚ
ŵĂŝŶƚĂŝŶƐƚŚĞĚŝǀŝŶĞƉůĂLJƚŚƌŽƵŐŚƚŚĞƚŚƌĞĞŐƵŶĂƐ͘^ŚĞĚĞƐƚƌŽLJƐ
ƉĂƐƐŝŽŶƐĂŶĚƐƵďƚůĞĚĞƐŝƌĞƐ͕ƐLJŵďŽůŝnjĞĚďLJƚŚĞďƵīĂůŽ͘


26
36
22
 6$5$6:$7,

2P$LP6DUDVYDW\DL1DPDK$LP

^ĂƌĂƐǁĂƟŝƐƚŚĞƉŽǁĞƌŽĨĐŽƐŵŝĐŝŶƚĞůůŝŐĞŶĐĞ͕ĐŽŶƐĐŝŽƵƐŶĞƐƐ
ĂŶĚŬŶŽǁůĞĚŐĞ͘^ŚĞŝƐƌĂŚŵĂƐŚĂŬƟ͕ƚŚĞĞŶĞƌŐLJŽĨƚŚĞĐƌĞĂƚŽƌ͘
^ĂƌĂƐǁĂƟ ŝƐ ƚŚĞ DŽƚŚĞƌ ŝŶ ŚĞƌ ƐĂƩǁŝĐ ĨŽƌŵ ǁŚŽ ďĞƐƚŽǁƐ
ƵůƟŵĂƚĞƐƉŝƌŝƚƵĂůŬŶŽǁůĞĚŐĞ͘^ŚĞŝƐĂůƐŽƚŚĞĐƌĞĂƟǀĞďĞĂƵƚLJŝŶ
Ăƌƚ͕ŵƵƐŝĐ͕ĚĂŶĐĞĂŶĚůŝƚĞƌĂƚƵƌĞ͘


27
24
28
 7$5$

2P+ULP6WULP+XP3KDW+XP

dĂƌĂŝƐĞƚĞƌŶĂůƐŽƵŶĚ͘^ŚĞŝƐƚŚĞƐŚĂŬƟŽĨŬƐŚŽďŚLJĂ;^ŚŝǀĂͿ͕ƚŚĞ
ŽŶĞǁŚŽŶĞǀĞƌůŽƐĞƐďĂůĂŶĐĞ͘dĂƌĂŝƐĞƚĞƌŶĂůůŝŐŚƚ͘dŚĞŽŶĞǁŚŽ
ŝŶǀŽŬĞƐŚĞƌŝƐŚĞůĚƐĞĐƵƌĞŽŶƚŚĞũŽƵƌŶĞLJƚŽƚŚĞ͚ŽƚŚĞƌƐŚŽƌĞ͛͘


28
25
31
 75,385$%+$,5$9,

+DVDLP+DVDNDULP+D6DLP$LP

dƌŝƉƵƌĂŚĂŝƌĂǀŝƌĞƉƌĞƐĞŶƚƐƚŚĞŬƌŝLJĂƐŚĂŬƟŽƌĨƵŶĐƟŽŶĂůƉŽǁĞƌ
ŽĨ'ŽĚ͘^ŚĞůŝĞƐŝŶĚĞĞƉƐůĞĞƉŝŶƚŚĞĞĂƌƚŚĞůĞŵĞŶƚ͕ĂƐŬƵŶĚĂůŝŶŝ
ƐŚĂŬƟ͘ tŚĞŶ ĂǁĂŬĞŶĞĚ͕ ƐŚĞ ƉŝĞƌĐĞƐ ƚŚƌŽƵŐŚ Ăůů ƐƚĂƚĞƐ ĂŶĚ
ƌĞŵŽǀĞƐĞǀĞƌLJŶŽƟŽŶŽĨĚƵĂůŝƚLJ͘


29
26
33
 75,385$681'$5,

+ULP.DHLOD+ULP+DVDNDKDOD
+ULP6DNDOD+ULP
ůƐŽ ĐĂůůĞĚ <ĂŵĞƐŚǁĂƌŝ͕ dƌŝƉƵƌĂ ^ƵŶĚĂƌŝ ŝƐ ƚŚĞ ƉŽǁĞƌ ŽĨ
ŬĂŵĂŶĂ͕ĚĞƐŝƌĞ͘^ŚĞŝƐƚŚĞĞƐƐĞŶĐĞŽĨĐƌĞĂƟŽŶ͕ƚŚĞǁŝůůĂŶĚƚŚĞ
ĨŽƌĐĞ ƚŚĂƚ ƚƵƌŶƐ Ă ĚĞƐŝƌĞ ŝŶƚŽ ĂĐƟŽŶ͘ dƌŝƉƵƌĂ ^ƵŶĚĂƌŝ ŝƐ ƚŚĞ
ƵůƟŵĂƚĞďĞĂƵƚLJŝŶŚĞƌĞŶƚŝŶƚŚĞƚŚƌĞĞƌĞĂůŵƐ͘


30
27
32
 $-1$

2P
ũŶĂĐŚĂŬƌĂŝƐƚŚĞĐĞŶƚƌĞŽĨǁŝƐĚŽŵĂŶĚŝŶƚƵŝƟŽŶ͘/ŶĚĞĞƉĞƌ
ƐƚĂƚĞƐ ŽĨ ŵĞĚŝƚĂƟŽŶ͕ ƚŚĞ ĚŝƐĐŝƉůĞ ƌĞĐĞŝǀĞƐ ĐŽŵŵĂŶĚƐ ĂŶĚ
ŐƵŝĚĂŶĐĞĨƌŽŵƚŚĞŐƵƌƵ͕ĚŝǀŝŶĞŽƌŚŝŐŚĞƌƐĞůĨƚŚƌŽƵŐŚĂũŶĂ͘dŚĞ
ƉƌĞƐŝĚŝŶŐ ŐŽĚĚĞƐƐ ŝƐ ƚŚĞ ƉƵƌĞͲŵŝŶĚĞĚ ,ĂŬŝŶŝ ĂŶĚ ƚŚĞ ĚĞǀĂ
WĂƌĂŵƐŚŝǀĂ͘


31
28
03
 9,6+8''+,

+DP

sŝƐŚƵĚĚŚŝ ĐŚĂŬƌĂ ŝƐ ƚŚĞ ĐĞŶƚƌĞ ŽĨ ƉƵƌŝĮĐĂƟŽŶ͕ ƌĞƉƌĞƐĞŶƟŶŐ

ƌŝŐŚƚƵŶĚĞƌƐƚĂŶĚŝŶŐ͕ĚŝƐĐƌŝŵŝŶĂƟŽŶĂŶĚĂĐĐĞƉƚĂŶĐĞŽĨĚƵĂůŝƚLJ͘
dŚĞǁŚŝƚĞŵŽŽŶƐŚĂƉĞƌĞƉƌĞƐĞŶƚƐƚŚĞĞƚŚĞƌĞůĞŵĞŶƚ͕ĂŶĚƚŚĞ
ĞůĞƉŚĂŶƚ ŝƐ ƚŚĞ ǀĞŚŝĐƵůĞ ŽĨ ĐŽŶƐĐŝŽƵƐŶĞƐƐ͘ dŚĞ ƉƌĞƐŝĚŝŶŐ
ŐŽĚĚĞƐƐŝƐ^ĂŬŝŶŝĂŶĚƚŚĞĚĞǀĂŝƐ^ĂĚĂƐŚŝǀĂ͘


32
29
34
 $1$+$7$

<DP
ŶĂŚĂƚĂĐŚĂŬƌĂŝƐƚŚĞĐĞŶƚƌĞŽĨƵŶĐŽŶĚŝƟŽŶĂůůŽǀĞ͕ĞŵƉĂƚŚLJ
ĂŶĚƚŽůĞƌĂŶĐĞ͘dŚĞŚĞdžĂŐŽŶƌĞƉƌĞƐĞŶƚƐƚŚĞĂŝƌĞůĞŵĞŶƚ͕ĂŶĚƚŚĞ
ƚǁŽ ŝŶƚĞƌůĂĐĞĚ ƚƌŝĂŶŐůĞƐ ƐLJŵďŽůŝnjĞ ƚŚĞ ƵŶŝŽŶ ŽĨ ^ŚĂŬƟ ĂŶĚ
^ŚŝǀĂ͘<ĂŬŝŶŝŝƐƚŚĞĚĞǀŝĂŶĚ/ƐŚĂ;ĂůůͲƉĞƌǀĂĚŝŶŐͿŝƐƚŚĞĚĞǀĂ͘


33
30
04
 0$1,385$

5DP

DĂŶŝƉƵƌĂĐŚĂŬƌĂƌĞƉƌĞƐĞŶƚƐǀŝƚĂůŝƚLJĂŶĚĞŶĞƌŐLJ͘dŚĞŝŶǀĞƌƚĞĚ
ĮĞƌLJ ƌĞĚ ƚƌŝĂŶŐůĞ ƐLJŵďŽůŝnjĞƐ ƚŚĞ ĮƌĞ ĞůĞŵĞŶƚ͕ ĂŶĚ ƚŚĞ ƌĂŵ
ƐLJŵďŽůŝnjĞƐĚLJŶĂŵŝƐŵĂŶĚŝŶĚŽŵŝƚĂďůĞǁŝůů͘dŚĞƉƌĞƐŝĚŝŶŐĚĞǀŝ
ŝƐ>ĂŬŝŶŝ͕ƚŚĞďĞŶĞĨĂĐƚƌĞƐƐŽĨĂůů͕ĂŶĚƚŚĞĚĞǀĂŝƐZƵĚƌĂ͘


34
31
19
 6:$'+,67+$1$

9DP
^ǁĂĚŚŝƐƚŚĂŶĂĐŚĂŬƌĂŝƐƚŚĞƐƚŽƌĞŚŽƵƐĞŽĨŽŶĞ͛ƐŵŽƐƚƉƌŝŵŝƟǀĞ
ĂŶĚĚĞĞƉͲƌŽŽƚĞĚŝŶƐƟŶĐƚ͘dŚĞǁĂƚĞƌĞůĞŵĞŶƚŝƐƐLJŵďŽůŝnjĞĚďLJĂ
ǁŚŝƚĞ ĐƌĞƐĐĞŶƚ ŵŽŽŶ͕ ĂŶĚ ƚŚĞ ĐƌŽĐŽĚŝůĞ ƌĞƉƌĞƐĞŶƚƐ ƚŚĞ
ƐƵďƚĞƌƌĂŶĞĂŶ ŵŽǀĞŵĞŶƚ ŽĨ ƚŚĞ ƐĂŵƐŬĂƌĂƐ͘ ,ĞƌĞ ƌĞƐŝĚĞ ƚŚĞ
ĚĞǀŝZĂŬŝŶŝĂŶĚƚŚĞĚĞǀĂsŝƐŚŶƵ͘


35
32
30
 022/$'+$5$

/DP
DŽŽůĂĚŚĂƌĂĐŚĂŬƌĂŝƐƚŚĞƐĞĂƚŽĨŬƵŶĚĂůŝŶŝƐŚĂŬƟ͘dŚĞLJĞůůŽǁ
ƐƋƵĂƌĞ͕ ƐLJŵďŽů ŽĨ ƚŚĞ ĞĂƌƚŚ ĞůĞŵĞŶƚ͕ ŝƐ ƐƵƉƉŽƌƚĞĚ ďLJ ĂŶ
ĞůĞƉŚĂŶƚǁŝƚŚƐĞǀĞŶƚƌƵŶŬƐ͕ƚŚĞǀĞŚŝĐůĞŽĨƚŚĞŐƌĞĂƚŵŝŶĚ͘dŚĞ
ƉƌĞƐŝĚŝŶŐĚĞǀŝŝƐĂŬŝŶŝ͕ƚŚĞĐĂƌƌŝĞƌŽĨƉƵƌĞŝŶƚĞůůŝŐĞŶĐĞ͕ĂŶĚƚŚĞ
ĞǀĂŝƐ'ĂŶĞƐŚĂ͘


36
33
20
 1$9$*5$+$

6XU\DGL1DYDJUDKDGHYDWDEK\R1DPDK
2P
dŚĞ ŶŝŶĞ ŐƌĂŚĂƐ ;ƉůĂŶĞƚƐͿ ĂƌĞ ƉƌŽƉŝƟĂƚĞĚ ďĞĨŽƌĞ ĂŶLJ ƌŝƚƵĂů͘
dŚĞLJĂƌĞ͗^ƵƌLJĂ;^ƵŶͿ͕ŚĂĚƌĂ;DŽŽŶͿ͕DĂŶŐĂůĂ;DĂƌƐͿ͕ƵĚŚĂ
;DĞƌĐƵƌLJͿ͕ƌŝŚĂƐƉĂƟ;:ƵƉŝƚĞƌͿ͕^ŚƵŬƌĂ;sĞŶƵƐͿ͕^ŚĂŶŝ;^ĂƚƵƌŶͿ͕
ZĂŚƵ ;ƐĐĞŶĚŝŶŐ EŽĚĞͿ ĂŶĚ <ĞƚƵ ;ĞƐĐĞŶĚŝŶŐ EŽĚĞͿ͘ 'ƌĂŚĂ
ĂůƐŽ ŵĞĂŶƐ ͚ŚŽůĚ͕͛ ŝŶĚŝĐĂƟŶŐ ƚŚĞ ŝŶŇƵĞŶĐĞ ƚŚĂƚ ƉůĂŶĞƚƐ ŚĂǀĞ
ƵƉŽŶŚƵŵĂŶĂĐƟŽŶƐ͘


37
23