ASJP World Language Tree of Lexical Similarity:

Version 2 (April 2009)

by

André Müller, Viveka Velupillai, Søren Wichmann, Cecil H. Brown,

Pamela Brown, Eric W. Holman, Dik Bakker, Oleg Belyaev, Dmitri
Egorov, Robert Mailhammer, Anthony Grant, and Kofi Yakpo

The World Language Tree graphically illustrates relative degrees of lexical similarity
holding among 3384 of the world's languages and dialects (henceforth, languages) currently
found in the ASJP database (ASJP stands for Automated Similarity Judgment Program).
Languages branched more closely together on the ASJP tree are lexically more similar than
those branched less closely together. While most lexical resemblance charted in the tree
almost certainly is related to genetic affiliation, closely branched languages cannot routinely
be assumed to be closely genetically associated since lexical resemblance among languages
can be due to factors other than genetic relatedness (see below).

The tree is generated through use of the neighbour-joining computer algorithm

originally designed to depict phylogenetic relationships in biology (Saitou & Nei 1987). This
is implemented in MEGA 4 (Kumar et al. 2008),1 the software that we use. The algorithm is
applied to a matrix of lexical similarity scores based on Levenshtein (or edit) distances
holding between all possible pairs of the 3384 languages (for details about this, including
how we modify the Levenshtein distances for our purposes, see Bakker et al. 2009: 169). All
languages of the database are compared to one another with respect to lexical similarity
relating to their words for 40 referents determined statistically in Holman et al. (2008) to be
most stable among core vocabulary items commonly used in lexicostatistical analysis. The
tree is unrooted, but organized around a midpoint, i.e., the point which is equidistant between
the two most lexically dissimilar languages in the network. Finally, the tree is annotated to
show how it corresponds to the classification used in the latest version of the online World
Atlas of Language Structures (Haspelmath et al. 2008),2 with some updates from Dryer
(personal communication). This annotation is presented for ease of orientation, not
necessarily because ASJP agrees with it. The language names used are normally simply those

1
http://www.megasoftware.net/
2
http://wals.info/
of the sources consulted. The sources, as well as corresponding language names of
Ethnologue, are provided in a continuously updated wiki.3

Four factors influence lexical similarity registered in the tree: (1) genetic or
genealogical relationship of languages, (2) diffusion (language borrowing), (3) universal
tendencies for lexical similarity such as onomatopoeia, and (4) random variation (chance).

Languages branched closely together on the tree may be so because of strong lexical
similarity produced by any one or a combination of the four factors. Genetic relationship
would appear to be the most dominant factor accounting for close branching, followed next
by diffusion. Universal tendencies and chance are less significant contributors to close
branching than either genetic relationship or diffusion, but nonetheless clearly contribute to
the overall structure of the tree.

Typically, all languages of non-controversial language families such as Austro-

Asiatic, Uralic, or Mayan, are respectively branched together on the tree. When some
languages of a non-controversial family are not found branched together, this is because they
are substantially lexically different from other members of their family despite
unambiguously belonging to that family. Occasionally, a language can be so lexically
different from co-members of its family that it is found branched more closely with some
language or languages with which it is not genetically related at all, usually because of
chance lexical similarity or similarity due to borrowing. (When such languages are
geographically remote from one another, chance usually explains close branching.)

Typically, branching accords closely with genetic subgroups recognized by experts

within non-controversial language families. When branching is not isomorphic with
genealogical subgrouping, this often reflects diffusion among languages of the family
promoted by language contact. Thus, when used in conjunction with expert classifications of
non-controversial language families, the tree can be helpful in calling attention to historical
relationships (contact) among genetically related languages that sometimes might not be
otherwise apparent.

The tree may also suggest relationships heretofore not noticed among languages that
may be profitably investigated. For example, if two languages not known to be related in any
way are found together on a terminal branch, this may indicate a relationship between them
entailing either inheritance or contact, especially if they are not geographically remote from
one another. If the two languages are geographically distant, their close lexical similarity is

3
http://lingweb.eva.mpg.de/asjp/index.php/ASJP

2
more likely explained by chance than by either inheritance or diffusion. Also, language
isolates may join one another on a terminal branch because they have nowhere else to go in
the tree, creating the illusion that exciting, new far-flung relations may be in evidence. One
should be cautious in the interpretation of these cases.

References

Bakker, Dik, André Müller, Viveka Velupillai, Søren Wichmann, Cecil H. Brown, Pamela
Brown, Dmitry Egorov, Robert Mailhammer, Anthony Grant, and Eric W. Holman.
2009. Adding typology to lexicostatistics: a combined approach to language
classification. Linguistic Typology 13: 167-179.
Holman, Eric W., Søren Wichmann, Cecil H. Brown, Viveka Velupillai, André Müller, and
Dik Bakker. 2008. Explorations in automated lexicostatistics. Folia Linguistica 42.2:
331-354.
Haspelmath, Martin, Matthew S. Dryer, David Gil and Bernard Comrie. 2008. The World
Atlas of Language Structures Online. Munich: Max Planck Digital Library.
Kumar S., J. Dudley, M. Nei, and K. Tamura K. 2008. MEGA: A biologist-centric software
for evolutionary analysis of DNA and protein sequences. Briefings in Bioinformatics
9: 299-306.
Saitou, Naruya and Masatoshi Nei. 1987. The neighbor-joining method: a new method for
reconstructing phylogenetic trees. Molecular Biology and Evolution 4: 406-425.

3
 5& /33". 


##
# (# 
G
G 

#6
#6 
G3
G66(3  6 

#
#
G
GJ 

#

#

 
G+
G  (+6 6

#

#

G
G 

#

#
 
G
GI

#0
#(0 
G
G  

#
#  
G 
G 
*&

#&
#(& 
G
G


# 
#   
G
G   (  

# 
#  
=
=

# 
#  
=
=  

# 
#  6 
1#
16(#


#
# 6 
15
1 

5 



##
# (# 
159
1 
5 
9 

#
#
 
125
1 
2
6
5 

#
# 
1

1


5 
5 
0
1

1
 

5
5   
1$
1 
$ 6


5 
5 ;
2#
2  
#  

5
56
2
2   

5

5

2$
2
($6

5
5 
2
2  

5
5 
9 
9 :

5 
5  6
9 
9 

5

5
6
H
9
9 6

5
5 
90
9(0

G 
G  
96
96 

G 
G    
9
9  

G 
G I
9
9 

G
G  
A1
A(1  

G 
G  
A2
A

2


G
G 
A
A 

G
G

A 
A ; 

G
G
A
A 

G
G
% 
% 

G
G 
% 
%  

 
%
%  
0
0 

3 
3 

0
0

3 
3  
0 
0  

3
3 6
0?0
0  

?
0 
H 

3 
3 6 
0
0

3 
3  
0
06 

3 
3  
0L
0(L;

3 :
3 :6 
+ 
+ 6 

3<
3 (< 
+ 
+ :

3
3 
+G
+ (G

3
3 
+=
+ 6(=   

3
3  
+=
+ (=

3

3

+
+


3
3  
+
+ 

3 
3 
 
+$
+
($  

3
3
  
+G
+ 
G   

3
3 
@G
@ 
G 

3
3:
@
@ 

3
3
@6
@6 

3
3
@0
@(0  

3
3
 
& 
& : 

3
3 
& 
&  

3:
3 :
& 
&  

3K
3 6 (K 
& 
&  

 
 6

&
& 

0

0 
&
& 


 
&K
& (K  

&
 6
&

M
M 

$
 
$
:
$

$
 

$H

$6(H 
$#
$
#  

0
0 
$ 
$  

0 
0  
$
$ 

0 
0   
$
$6

0 
0  
$
$
&

02
0  (2
$
$ 

0
0
 
$6
$6

0
0
$

$
 

0
0
$

$I
 

0
0
$
$ 

 
$
$( 
K

K


$
$  
K 
K  

 
   
K 
K  


  
K 
K 

 
  
K

K



 (&   
K
K 

;
;
 
K6
K6 



K 
K  



K
K  

3
 (3  
K
K

+2
 (+
2
K
K 

@
 (@ 
L 
L  





L 
L   


6 
L
L


 





  




 
  


  

3
  (36  


 

?#
?(#: 

?G
? (G 

?
?


?
? 

?6
?6

?K
?
K 

E%
E C(%  I

 6
 6  

 
  


 

 
 

5

5 



5

5 

<
 
<


&

&  


 

K
 (K6 

N
N 

 
3(15+<1
7,.23,$
5$52721*$1
0$25,
(0$(
5(11(//(6(
($67)8781$
$1,:$
)8781$
),/$
0(/(
.$3,1*$0$5$1*,
38.$38.$
9$($.$87$80$.2
721*$1
1,8(
:$//,6,$1
1257+0$548(6$1
18.8252
+$:$,,$1
/8$1*,8$
5$3$18,
585878$1
7$+,7,$1
1$180($
6$02$1
78$0278$1
529,$1$
6,0%2
0$5292
+2$9$
858$9$
0212
725$8
/$8
72$%$,7$
.:$5$$(
.:$,2
6$17$$1$2:$
6$$
52780$1
),-,$1
:2*(2
%2/$
9,78
0$1'$5$
7$%$5
%8*+278
72/2
*+$5,
1**(/$
),-,$1:$<$18QQDPHG,Q6RXUFH
0(.(2
5252
6,1$8*252
0278
*$%$', $Q2&($1,&
'285$
.81,
/$/$
%$5,$,
.29(
180%$0,
<$%(0
%8+878
6$/,%$3$38$1(:*8,1($
68$8
'2%8
02/,0$
*80$:$1$
.,/,9,/$
%:$,'2.$
',2',2
0,1$9(+$
7$:$/$8QQDPHG,Q6RXUFH
8%,5
*$3$3$,:$
 *$3$3$,:$
:('$8
'$0,
0$,6,1
7,*$.
781*$.
7,$1*
1$/,.
:(67.$5$
0$87878
%,/(.,1$.$1$,
1$.$1$,
%,/85
0,1,*,5
72/$,
.$1'$6
3$73$7$5
6,$5
681*/,./,+,5
/(,321
/21,8
/28
1$81$
1<,1'528
/(9(,
/,.80
6(,0$7
:898/8
68568581*$
7$1*$
0$1$0
0%8/$3$38$1(:*8,1($
$523/2.(3
%,/%,/
*('$*('
0$78.$5
7$.,$
.$,5,58
.,6
<$.$08/ $Q2&($1,&
62%(,
7$53,$
1*$,%25
8-,5 $Q&(175$/0$/$<232/<1(6,$1
'2%(/
,5$5878 $Q6287++$/0$+(5$:(671(:*8,1($
$5*81,
.2:,$,
+,78
78/(+8
3$8/2+,
$0$+$,
$/81(
(/$7.(,%(6$5
*(6(5
:$78%(/$
0$6,:$1*
%2%27
%21),$<
<$0'(1$
21,1
6(.$5
.(,
0$0%$( $Q&(175$/0$/$<232/<1(6,$1
6(/$58
$387$,
3(5$,
78*81
(5$,
,/,81
7$/85
.(0$.
7(781
1,/$
7(81
6(58$
($67'$0$5
.,6$5
520$
/(7,1(6(
 520$
/(7,1(6(
/8$1*
+$.8
7(23
1(+$1
$Q2&($1,&
%$121,
7$,2)
62/26
%8/,
*(%(
$6
6$:$,8QQDPHG,Q6RXUFH
($670$.,$1
*,0$1
0$7%$7 $Q6287++$/0$+(5$:(671(:*8,1($
$0%(/
%,*$
.$:(
:$8<$,
/$1*$1<$1
6$/$:$7,0$$<$
028.
028.
$0$5$
/$02*$,
68'(67
.$8/21* $Q2&($1,&
6(1*6(1*
/27(
0866$8(0,5$
0$/(8
0(1*(1
.2.27$
=$=$2
=$%$1$
&+(.(+2/2
$Q2&($1,&
5,5,2
6,6,4$
9$*+8$
9$5,6,
025
:$5(0%25,
:$523(1
%,$.
180)25
'861(5
521
.858'8
:$%2
$Q6287++$/0$+(5$:(671(:*8,1($
081**8,
320
:$1'$0(1
$0%$,
:$'$3,/$87
6(58,/$87
3$380$
$1686
:2,
38/8:$7(6(
758.(6(
&$52/,1,$1
:2/($,$1
38/2$11$
6216252/(6( $Q2&($1,&
32+13(,$1
($67(510$56+$//(6(
0$56+$//(6(
.,5,%$7,
.86$,(
3$/$8$1 $Q3$/$8$1
'$,
'$:(5$'$:(/225
1257+%$%$5
:(67'$0$5
&(175$/0$6(/$
(03/$:$6 $Q&(175$/0$/$<232/<1(6,$1
,052,1*
7(/$0$6%8$5
6(5,/,
 7(/$0$6%8$5
6(5,/,
($670$6(/$
6287+($67%$%$5
6287+:(677$11$,.,<$8
6287+:(677$11$/$3:$1*72$,
6287+:(677$11$,05($1*
6287+:(677$11$(1),7$1$
6287+:(677$11$,.,7,
.:$0(5$,6,$,
.:$0(5$32575(62/87,21
.:$0(5$<$78.:(<
/(1$.(//(1$8.$6
/(1$.(//21$6,/,$1
1257+7$11$
:+,7(6$1'6,$5.(,
:+,7(6$1'6/21,(/
6,(
85$
/$%2:,1'8$
/$%2
$.(,3(1$176,52
:$,/$3$
)2576(1$/
$.(,7$6,5,.,
$.(,
1$9870$7$(
:86,12121$
:86,.(5(38$
:86,0$1$
:86,9$/8,
/$0(7,1
0$/0$5,9
1$987
02528$6%$781/$0$.
02528$6
$0%/21*
1$5$1*21$0%(/
1$5$1*2
$25(
7878%$
0$)($
$5$.,
7$1*2$
1257+0$/2
6287+0$/2
7$0%27$/2
525,$
%870$6
785
32/2120%$8.
/25(',$.$5.$5
6+$5.%$<
6+$5.%$<
72/20$.2
12.8.8
9$/3(,+8.8$
9$/3(,
7$60$7(
3,$0$76,1$
981$38
+,:
72*$
%$(725$1$52925292
%$(725$1$6$:$
%$(725$1$9(1(9(1(
%$(725$7$0
%$(725$
&(175$/0$(:2
0$5,12
027$
($67$0%$(/2/6,:2,
:(67$0%$(
5$*$
($67$0%$(/2/20$78,
($67$0%$(:$,/(1*,
0(5/$90(5,*
0(5/$9
180(
.252
180(
.252
:(7$087'25,*
:(7$087
/$.21$
/(+$/,
027/$9
/(+$/8583
026,1$9(780%262
026,1$
9$75$7$6$6$5
9$75$7$
1257+()$7(1*81$ $Q2&($1,&
1257+()$7(3:(/(
1257+()$7(6,9,5,
1257+()$7(6(6$.(
1257+()$7(:25$9,8
/(/(3$
(721
6287+()$7((5$7$3
6287+()$7(3$1*2
1$0$.85$%21*$%21*$
1$0$.85$0$7$62
1$0$.85$0$.85$
1$0$.85$721*$5,.,
%,(5,$9292
0$,,
%$.,
%,(5(%2<(9$/,
/(:20$35(02
%,(5(%27$9,2
%,(5(%2%21.29,$
%,(5(%2%8583,.$
/$0(18
/(:20$7(
/(:218/
/(:2),/$.$5$
/(:21,.$85$
/(:2189,
/(:29,6,1$
.$7%2/7,0%(0%(
.$7%2/
/,1*$5$.
/,7=/,7=
9,10$9,6
/$5(9$7
0$/)$;$/
1$7,
6287+:(67%$<%(1285
6287+:(67%$</(0%,1:(1
',;215(()
',;215(()
/(7(0%2,
5(3$1%,7,3
$8/8$
$;$0%$92.
$;$0%0$;%$;2
$;$0%
32576$1':,&+
0$6.(/<1(6
5(5(3
818$
%850%$5
%850%$5/(3$;6,9,5
%850%$59$57$92
%,*1$0%$6/(9,$03
%,*1$0%$6810(7
0$5$*86
7$3(
3$$0$)$8/,/,
3$$0$/$8/
3$$0$/,521(6$
6287+($67$0%5<00$$7
6287+($67$0%5<072$.
'$.$.$%$,$3
'$.$.$6(6,9,
32579$72
25.21
/21:2/:2/
1257+$0%5<0)21$+
 1257+$0%5<0)21$+
1257+$0%5<05$121
6$
6(.(
62:$
$30$
3,1$/80
:$/$
5$12
7$878
85,3,9
85,
$7&+,1
1(6(
0327292529292
9$2
0$(25$3
0$(
0$/8$%$<3(7$5085
0$/8$%$<
,/21*27
$Q1257+(513+,/,33,1(6
.$.,'8*((1,/21*27
3$,:$1 $Q3$,:$1,&
38<80$
$0,6 $Q3$,:$1,&
&$0,6
%8181 $Q$7$<$/,&
.$9$/$1 $Q3$,:$1,&
6,5$<$
6$,6,<$7
$Q3$,:$1,&
3$=(+
7+$2
80,5$<'80$*(7$*7$ $Q1257+(513+,/,33,1(6
)$925/$1* $Q:(67(513/$,16
$7$<$/
$Q$7$<$/,&
6(',4
7628
.$1$.$1$%8 $Q7628,&
6$$52$
&+$02552 $Q&+$02552
&+58
(&+$0 $Q0$/$<,&
76$7
02'$1*
$Q.$<$1085,.
6(*$,
,1'21(6,$1
0$/$<
,1'21(6,$1-$.$57$ $Q0$/$<,&
2*$1
%$1-$5(6(0$/$<
'(/$1* $Q0$/$<,&
7$08$1 $Q68/$:(6,
0,1$1*.$%$8 $Q0$/$<,&
,%$1 $Q0$/$<,&
(0%$/2+
6233(1*%8*,1(6( $Q68/$:(6,
7$(
6$6$. $Q%$/,6$6$.
*$<2 $Q*$<2
%21**, $Q0(623+,/,33,1(
72%$%$7$. $Q680$75$
&2$67$/.21-2
.21-2
0$.$6$5
%$17,. $Q68/$:(6,
6$1*,/
6$1*,5
7$%8.$1*6$1*,5
1,$6 $Q680$75$
7216$:$1*
720%8/8
7216($ $Q68/$:(6,
721'$12
7217(0%2$1
%$5((
025,%$:$+
$Q68/$:(6,
'$$
80$
.$0%2$
 .$0%2$
/$:(/(
.$321725,
72'$1*$
:$68$0%$
/,$%8.$
.$'$78$
081$
.$,0%8/$:$
%862$
%$1**$,
:2/,2
$Q68/$:(6,
78.$1*%(6,1257+(51
78.$1*%(6,6287+(51
%21(5$7(
.$0$58
/$6$/,08
3$6$5:$-2
.80%(:$+$
0$6,5,
%$78$7$6
'(6$:$/,
0$72128:(
:$%+8/$
%,0$
$Q&(175$/0$/$<232/<1(6,$1
6$98
0$/$*$6<0$+$)$/<
0$/$*$6<9(=2
0$/$*$6<7$1'52<
0$/$*$6<7$1'52<
0$/$*$6<6$.$/$9$
0$/$*$6<6$.$/$9$
0$/$*$6<$17$1.$5$1$
0$/$*$6<76,0,+(7<
0$/$*$6<$17$,6$.$
$Q%$5,72
0$/$*$6<=$),6252
0$/$*$6<%$5$
0$/$*$6<$17$0%$+2$.$
0$/$*$6<%(76,0,6$5$.$
0$/$*$6<7$,0252
0$/$*$6<),$1$5$1762$
0$/$*$6<6,+$1$.$
0$/$*$6<$0%26,75$
0$/$*$6<0(5,1$
/$0$+2/27,/(0$1',5,
/$0$/(5$
$/25
.('$1*
1*$'+$
62$
/,2
(1'(
3$/8(
0$1**$5$,
6,.$
.$0%(5$ $Q&(175$/0$/$<232/<1(6,$1
6287+(51.$0%(5$
/(:$.$0%(5$
80%85$781**$,.$0%(5$
*$85$1**$85$
/$0%2<$
:(-(:$
0$0%258
$1$.$/$1*
:$18.$.$
%$/,/('2
321'2.
62%2<2
%8580$6$5(7(
8$%0(72 $Q&(175$/0$/$<232/<1(6,$1
527(8QQDPHG,Q6RXUFH
7(50$18
-$9$1(6(8QQDPHG,Q6RXUFH $Q-$9$1(6(
.2521$'$/%,/$$1
6$5$1*$1,%,/$$1
$Q6287+0,1'$1$2
7$*$%,/,
7%2/,
*25217$/2
$Q68/$:(6,
.$,',3$1*
 $Q68/$:(6,
.$,',3$1*
0$'85(6( $Q0$'85(6(
.(5,1&, $Q0$/$<,&
$&(+ $Q0$/$<,&
%$/, $Q%$/,6$6$.
681'$1(6( $Q681'$1(6(
.20(5,1*
$Q/$0381*,&
/$0381*
.8$/$1
6,1*+, $Q/$1''$<$.
%(.$7,
02.(1 $Q0$/$<,&
5(-$1* $Q5(-$1*
%(/$,7
$Q1257+:(670$/$<232/<1(6,$1
/21*7(5$:$1%(5$:$1
.$38$6.$+$<$1
.$7,1*$1
1*$-838/23(7$.
1*$-82/2+0$1*7$1*$,
$Q%$5,72
1*$-8%$$0$1*
.$'25,+
08581*6,$1*
6,$1*
5(-$1*.$<$1 $Q.$<$1085,.
/$:$1*$1
7$:2<$1
'86810$/$1*
'8681'(<$+
$Q%$5,72
3$.8
0$$1<$1
'8681:,78
6$0,+,0
781-81* $Q%$5,72
%,178/8
08.$+0(/$1$8 $Q1257+:(670$/$<232/<1(6,$1
/$+$1$1
%8.$7 $Q.$<$1085,.
/21*$1$3.(1<$+ $Q1257+:(670$/$<232/<1(6,$1
%$5,2.(/$%,7 $Q1257+:(670$/$<232/<1(6,$1
021*21'2: $Q68/$:(6,
,'$$1
$Q1257+:(670$/$<232/<1(6,$1
7,08*2108587
%$/$1*,1*,6$0$
6,$6,6$0$
0$381
$Q6$0$%$-$:
<$.$1
,1'21(6,$1%$-$8
,1$%$.121
7$*%$1:$.$/$0,$1 $Q0(623+,/,33,1(
,6$02521*,9$7$1
,9$6$<,9$7$1
,9$7$1
,7%$<$7,9$7$1
$Q1257+(513+,/,33,1(6
,0252'
,5$5$/$<,9$7$1
,9$7$1%$6&2
,7%$<$7(1,9$7$1
.$/,1*$/,026
/8%8$*$1.$/,1*$
&(175$/%2172&
,71(*%,121*$1
1257+(51.$1.$1$<
%$/$1*$2
%$7$',)8*$2
$0*$1$',)8*$2
$Q1257+(513+,/,33,1(6
%$<1,1$1,)8*$2
.$//$+$1.(/(<4,4
,1,%$/2,
.$<$3$.$//$+$1
.$3$03$1*$1
6$0%$/%272/$1
,/2.$12
3$1*$6,1$1
,%$1$*
3$03/21$$77$
,61$*
$Q1257+(513+,/,33,1(6
*$''$1*
&(175$/$*7$
&$6,*85$1'80$*$7$*7$
0$0$1:$ $Q0(623+,/,33,1(
 &$6,*85$1'80$*$7$*7$
0$0$1:$ $Q0(623+,/,33,1(
0$12%2:(67(51%8.,'121
:(67(51%8.,'1210$12%2
0$12%2,/,$1(1
0$12%20$7,*6$/8*
0$12%2',%$%$:21
$Q6287+(513+,/,33,1(6
0$12%2$7$
%,18.,'
.$*$<$1(1
0$12%2&27$%$72
0$12%26$5$1*$1,
&(175$/%,&2/$12 $Q0(623+,/,33,1(
3$/$:$1%$7$.
3$/$:$12%$7$.
7$*%$1:$$%25/$1 $Q0(623+,/,33,1(
02/%2*
6287+:(673$/$:$12
,5$181
$Q6287+(513+,/,33,1(6
0$5$1$2
+$18122 $Q0(623+,/,33,1(
&(175$/68%$1(1
$Q6287+(513+,/,33,1(6
:(67(5168%$121
.$/$*$1
0$16$.$
7$868*
7$*$/2*
$./$121
$Q0(623+,/,33,1(
&(%8$12
%878$121
685,*$2121
+,/,*$<121
:$5$<:$5$<
.$<838/$8 $Q2&($1,&
85$5,1$ 8UU85$5,1$
6$.$2
0$'$.
$Q2&($1,&
%$52.
/$0$621*
$'=(5$
:$03$5
%8$1*0$3268QQDPHG,Q6RXUFH
%8$1*
0,6,0$3$1$($7,
0$72
$680%2$
7($18
$Q2&($1,&
$,:2
1$1**81$0%$/8(
1$1**8
%$18$
1$0%$.$(1*20$/2
1($122/,
1($1(0%2,
1($
'(+8
1(1*21(
,$$,
;$5$&88
$-,( $Q2&($1,&
&(08+,
1(/(0:$
-$:(
1(0,
02,672.+2))/$66<
02,
02,:$,38
6(*(7:$/,(0
6(*(7 :3:(67%,5'6+($'
.$/$%5$
025$,'
7(+,77(+,'<,7
7(+,7
.$,1*$1*
0*H*(.$,1*$1*
;2./(1*
$5,.$38
-DE-$%87,
-$%87,
+80(1(0$18*252
+80(1( .ZD.:$/($1
.:$/(
 +80(1( .ZD.:$/($1
.:$/(
%$1*,0( %DQ%$1*,0(
$%81.$521
$%81 :31257+&(175$/%,5'6+($'
$%81-,0$',.
-$3$1(6(.<272
-$3$1(6(
1257+(51$0$0,26+,0$
-DS-$3$1(6(
<21$0,1(
1$+$
6+85,
2%2.8,7$,
2%8.8,7$,
(5,7$,
%,5,7$,
'287$,
3$3$6(1$
:$5,7$,
$,.:$.$,6,.$5,7$,
6,.$5,7$,
'(,5$7(
7$86('(,5$7(
7$86( /3/$.(63/$,1
7$86(:(,5$7(
:(,5$7(
)$<86(+8'$7(
)$<8
('23,
,$8
.,5,.,5,
)$,$
.,5,.,5,)$,$
'89/(
)2$8
+$,'$ +DL+$,'$
02&+,&$ &PX&+,08$1
%8,1
(%($67%28*$,19,//(
6,:$,
1$6,2, (%($67%28*$,19,//(
.$=8.858 .D].$=8.858
/,11*,7+,*+
$XV3$0$1<81*$1
3$5,0$1.87,10$
1$858$1 $Q2&($1,&
80%8<.$08
/$0$/$0$&2$67$/ $XV3$0$1<81*$1
/$0$/$0$,1/$1'
1$7&+(= 1DW1$7&+(=
-,&$48( 7RO72/
&20(&58'2 &RP&20(&58'$1
.,66,
.5,0
1&6287+(51$7/$17,&
00$1,
6+(5%52
,+$,+$,,
,+$7(0,1$%8(1
,+$,+$,
,+$.$3$85 :%P:(67%20%(5$,
.$3$85
%$+$0*5
%$+$03$7,081,
)$7$/8.8
2,5$7$ 71*7,025$/253$17$5
0$.$6$(
:2,6,.$/$1*.858
:2,6,.$3,'2,,
:2,6,.$3,'2,
71*7,025$/253$17$5
:2,6,.$.2/20$1(
:2,6,.$/(7/(<
:2,6,.$
.2/$1$
71*.2/$1$7$1*/$38,
7$1*/$38,
$'$1*3,781*
+$0$3
.$%2/$
.$)2$
./21
.8,,1'21(6,$
/$00$%,$1*:$/$
/$00$0$87$78%$/
 /$00$0$87$78%$/
/$00$.$/21'$0$
/$00$
.$:$
1('(%$1*
7(:$0$'$5
71*7,025$/253$17$5
7(:$6$5*$1*
7(:$/(%$1*
7(:$'(,1*
6$5,1'21(6,$
7(,:$
%/$*$5%$.$/$1*
%/$*$5
.$(5$
%/$*$55(77$385$
%/$*$55(77$7(51$7(
%/$*$57(5(:(1*
%/$*$5$385,
%/$*$5/,0$5$+,1*
$772&.&,7<+,1'.2
7$/$*$1*+,1'.2
3$.+$*2/$0+,1'.2
:$'3$**$+,1'.2
.2+$7&,7<+,1'.2
%$/$.27+,1'.2
0$16(+5$+,1'.2
6+(5385+,1'.2
6,1*2',*$5,
-$0081
:$'3$**$
$772&.
3$.+$*2/$0
7$/$*$1*
6(5$,.,
0(1'+$5*8-$5,
&(175$/$=$'.$6+0,5*8-$5,
1257+(51$=$'.$6+0,5*8-$5,
6287+(51$=$'.$6+0,5*8-$5,
.$*+$1*8-$5,
6287+(51+$=$5$*8-$5,
6(77/('6:$7*8-$5,
75$16+80$176:$7*8-$5,
*,/*,7*8-$5,
',5*8-$5,
&+,75$/*8-$5,
.81$5*8-$5,
3(6+$:$5&,7<+,1'.2
$*5$*8-$5,
85'8
0$,7+,/,8QQDPHG,Q6RXUFH
%(1*$/, ,(,1',&
+,1',
1(3$/,
*8-$5$7,
0$5$7+,
&+$.0$8QQDPHG,Q6RXUFH
),11,6+520$1,
6,17,520$1,
9/$;520$1,
'2/(1-6.,520$1,
/,7+8$1,$1520$1,
1257+5866,$1520$1,
:(/6+520$1,
%85*(1/$1'520$1,
%$1$7,6.,*85%(7520$1,
65(06.,*85%(7520$1,
*85%(7520$1,
0$&('21,$1'=$0%$=,520$1,$1
/29$5$520$1,
.$/'(5$6520$1,
.26292$5/,520$1,
0$&('21,$1$5/,520$1,
62),$(5/,520$1,
%8*85'=,520$1,
6(3(&,'(6520$1,
&5,0($1520$1,
856$5,520$1,
($676/29$.520$1,
/$79,$1520$1,
 /$79,$1520$1,
*859$5,520$1,
+81*$5,$19(1'520$1,
52081*52520$1,
($67(51.$7,9,5,
,(,1',&
6+(.+$1,
*$5$0&+,6+0$.+2:$5
.(68.+2:$5
2',5.+2:$5
,(,1',&
86+8.+2:$5
3$5*$01,6$5.+2:$5
&+$725.+$1'.+2:$5
/$'$.+, 67%2',&
*858.$/$6+$
=8*818..$/$6+$
.5$.$/.$/$6+$
'$0(/,
*$:$5%$7,
725:$/,
86+2-2
,(,1',&
.$/$0,
.$/.27,
.2+,67$1,,1'86
6$9,
385,*$/3+$/85$
$6+5(73+$/85$
%,25,3+$/85$
6,1+$/$
,(,1',&
9(''$
.$6+0,5, ,(,1',&
',*25266(7,$1
,521266(7,$1
($67(51)$56,
7$-,.
3(56,$1
-8'(27$7
6,9(5(.
6+8*+1,
<$*+12%,
.85',6+.850$1-,
081-$1,
<,'*+$
25085,
:$1(&,
.$1'$+$53$6+72
3,6+,13$6+72
3$6+,1.$.$5,3$6+72
48(77$3$6+72
&+$0$13$6+72
.$5$.3$6+72
/$..,0$5:$73$6+72
%$1183$6+72
0,5$16+$+3$6+72
:$1$3$6+72
-$058'$)5,',3$6+72 ,(,5$1,$1
7,5$+$)5,',3$6+72
1,1*5$+$53$6+72
6+,1:$5,3$6+72
=$.+$.+(/$)5,',3$6+72
%$53$6+72
0$//$*25,3$6+72
+$1*83$6+72
3$5$&+,1$53$6+72
7+$/3$6+72
&+(5$73$6+72
-$//2=$,3$6+72
%$-$853$6+72
02+0$1'3$6+72
1257+(513$6+72
%$))$3$6+72
2*+,3$6+72
%$7$*5$03$6+72
',53$6+72
0$'<$13$6+72
0,1*25$3$6+72
&+$56$''$3$6+72
6:$%,3$6+72
0$5'$13$6+72
3(6+$:$53$6+72
 3(6+$:$53$6+72
($67(51$50(1,$1
,($50(1,$1
:(67(51$50(1,$1
/$79,$1
,(%$/7,&
/,7+8$1,$1
1,1,/&+,.5866,$1
5866,$1
%(/$586,$1
8.5$,1,$1
/2:(5625%,$1
833(5625%,$1
32/,6+
&=(&+ ,(6/$9,&
6/29$.
%8/*$5,$1
0$&('21,$1
6/29(1,$1
%261,$1
&52$7,$1
6(5%2&52$7,$1
%5(721
:(/6+
,(&(/7,&
*$(/,&6&277,6+
,5,6+*$(/,&
,7$/,$1
6,&,/,$18QQDPHG,Q6RXUFH
520$1,$1
&$7$/$1
)5,8/,$1
32578*8(6(
,(520$1&(
63$1,6+
$5$*21(6(
*$/,&,$1
520$16+6856,/9$1
$53,7$1
)5(1&+
$/%$1,$1726. ,($/%$1,$1
125:(*,$1%2.0$$/
6:(',6+
-$07/$1',&
'$1,6+
)$52(6(
,&(/$1',&
(1*/,6+
&,0%5,$1
)5$169/$$06
=((8:6
:(679/$$06
67(//,1*:(5)6
$)5,.$$16
,(*(50$1,&
'87&+
%5$%$17,&
)5,6,$1:(67(51
1257+)5,6,$1$0580
($67(51)5,6,$1
1257+(51/2:6$;21
/,0%85*,6+
3/$87',(76&+
%(51(6(*(50$1
6$;21833(5
/8;(0%285*,6+
67$1'$5'*(50$1
<,'',6+($67(51
1,7(/0(1
&.6287+(51&+8.27.2.$0&+$7.$1
6,7(/0(1
&+8.&+((
$/8725 &.1257+(51&+8.27.2.$0&+$7.$1
.25<$.
1(1(76
8UD6$02<(',&
6(/.83
&6$1*2
+81*$5,$1
8UD8*5,&
.+$17<
0$16,
,1$5,6$$0,
6.2/76$$0,
/8/(6$$0,
1257+6$$0,
.,/',16$$0,
6287+6$$0,
 .,/',16$$0,
6287+6$$0,
(5=<$
025'9,102.6+$8QQDPHG,Q6RXUFH
.20,3(50<$. 8UD),11,&
.20,=<5,$1
8'0857
0($'2:0$5,
(6721,$1
9(36
(6721,$19252
),11,6+
.$5(/,$1
7(*(0 1&7(*(0
5(63(&7/$1*8$*( $XV3$0$1<81*$1
/$98.$/(9( /DY/$98.$/(9(
02/2) 71*02/2)
%,/8$ %LO%,/8$
6$926$92 6DY6$926$92
%$1,$7$ 7RX7282
:$1'20,
<,%$%
.$0$6$8<,%$%
.$0$6$8
75,1*
:$8
.$0$6$83$58:$
.(1<$5,
7RU0$5,(1%(5*
(/(3,6$0$3
(/,3,
85,02
%81$
.$.$5$%81$
0$1',3DSXD1*
081,:$5$
%81*$,1
%$0%$5$
/,*%, 1&:(67(510$1'(
621,1.(
:$1
%(1*
7285$
<$.28%$
%,6$
.<(1*$ 1&($67(510$1'(
6+$1*$
%2.2%$58
%86$1LJHULD
%2.2
,//2%86$
.81*(.2.$
281* .KR1257+(51.+2,6$1
-8+2$1
+2$1 .KR6287+(51.+2,6$1
69$1
*(25*,$1
.UW.$579(/,$1
/$=
0,1*5(/,$1
.$5,7,$1$ 7XS$5,.(0
5,.%$.76$ 0*H5,.%$.76$
/(1'8
/2.$,
3$1',.(5,
/8/8%$
0$$',
.(/,.2
/8*%$5$
/2*2
2-,*$ 1602580$$',
2-,/$
$*,
:$',
$1'5,
%$/,0%$
0,=$
.(',58
/$.$0$',
%(520)
7$+266
&$5$
 7$+266
&$5$
)<(0
+2520
58.8/
,7(1
,=(5(
$<8
1'81
&(
%81,*(5,$
$1,%
1,1.<23
0$'$
181.8
1,1*<(
1,1.$
1&3/$72,'
.:$1.$
6+$//
+<$0
.8/8
7$36+,1
3(
<$1*.$0
$.(
(**21
(/2<,
-,-,/,
-,/,
+$6+$
6$0%(
,'8
1<$1.3$
7(68
7252
*%$5,
1&1832,'
183(
%(.:$55$ 1&&52665,9(5
*$'( 1&1832,'
,*('( 1&,'202,'
,*%,55$ 1&1832,'
-,%8 1&3/$72,'
$1<,
%$8/(
7:,$6$17(
7:,)$17(
$+$17(
+,//*8$1*
/$57(+
()878 1&.:$
'2032
.5$&+,
1&+80858
*21-$
1$:85,
*(&+2'(
*(1<$1*$
,*%221,76+$
,=,
2*%$ 1&,*%2,'
(&+,(
(.3(<(
.580$1
:2%(
1&.58
%$.:(
*2',(
'$1*0(
*$
$1,0(5(
$.3$)8
6,:8 1&.:$
$'(/(
6(/(
%8(0/(/(0,
/,.3(
3$$6$$/
1&*85
9$*$/$
.$6(0 1&*85
*2/$ 1&6287+(51$7/$17,&
%,',<$ $$($67&+$',&
 *2/$ 1&6287+(51$7/$17,&
%,',<$ $$($67&+$',&
)$/, 1&$'$0$:$
0$',0$',
'-$'-$/$ $XV3$0$1<81*$1
:(0%$:(0%$
*%$1=,/,
1*%$.$*,/,0$
1*%$.$%2.$1*$
1*%$.$.3$/$
021=20%2
%$.$
1*20%(
0%$
1'81*$
6$1*2
<$.20$ 1&8%$1*,
1'2*2
*$%8
*%,
/,1'$
/$1*%$6,
0%$1=$
'21*2
0$
1=$.$5$
=$1'(
,%8252
8.:$
,780%862
,%,%,2
$1$$1*
(.,7
(7(%,
,%,12
,.2
2.2%2
()$,
,/8(
252
(%8*+8 1&&52665,9(5
(1:$1*
8'$
86$.$'(
(),.
,%,%,2
2%2/2
%$12*2,
.$1$
7((
.2+80212
0%(0%(
$%8$
2*%5218$*80
2.$
<258%$
1&'()2,'
$<(5(
$5,*,',
(:($'$1*%(
1&.:$
)21*%(
,.$.802
1&8.$$1
8.$$1
$.8118 1&$.3(6
(*$ 1&.:$
2.226$1<((1, 1&2.2
('2
(0$,
85+2%2
2.3$0+(5, 1&('2,'
(3,(
'(*(0$
(1*(11,
&,1'$
5(*,
.8.,
&,1'$
&,1'$
52*2
6(*(08.
6+$0$
 6+$0$
0$'$.$
321*8
1&.$,1-,
321*8
/(/$
'8.$
)$.$,$
525
/$581,*(5,$
/23$
&,&,38
6$/.$
7689$',
.21-$1'81*
.21-$681'$1,
0$0%,/$$77$
0$0%,/$
1,=$$
:$:$
987(0%$1-2
1&%$172,'
987(<2.2
7,9
7,9
$),$0$1'$
.$0,12
%$78$1:(
%858
.21.20%$ 1&*85
%$66$5, 1&1257+(51$7/$17,&
+$1*$
)5$)5$
1,1.$5(
'$*$$5( 1&*85
.86$/
'$*%$1,
0$0358/,
6:$+,/,&+,5$=,
6:$+,/,980%$
6:$+,/,09,7$
6:$+,/,3$7(
6:$+,/,7,.88
6:$+,/,0$.81'8&+,
6:$+,/,3(0%$
6:$+,/,
%88
&+:$.$
',*2
'8580$
*,5<$0$
&+21<,
5$%$,
6+,0$25(
6:$+,/,0:$1,
1.2<$
1&%$172,'
%(1'(
+(+(
.,1<$0:(=,
/(*$
0%8*:(
,/:$1$
,&,%(0%$
<(<,8QQDPHG,Q6RXUFH
/(627+2
%$1*$/$
/,1*$/$
;+26$
=8/8
0%$/$1+8
.,1<$5:$1'$
1.25(.,*$
.,+2/8
85881'
.$/21*
00$/$
/,%,(
18%$&$
18*818
<$0%(7$
1<2.21
 1<2.21
0$1',&DPHURRQ
%21(.
$/,1*$
781(1
1&%$172,'
78.,
7,%($
%$),$
/()$
%$6$$
%80$&$0(5221
32/
(:21'2
0(1*,6$
7,.$5$.8(1
7:80:8
.8/81*
0%8/$1,*(5,$
%,/(
/$%,5
=$$0%2
%$1.$/$
1&%$172,'
%$'$
'8*85,
%$6.(1<$1*
+$87.(1<$1*
'21*
0%(
0$1=$
1*%$.$0$1=$
%,<$1'$ 1&8%$1*,
*%(<$
.$5$%2'2(
1'(
17$
16(//(
()8723
(.$-8.
11$0
1.,0
1.800
%(1'(*+(
(-$*+$0
%$/(3
(.3$5$%21*
121,
$0%(/(
/$01624
1'(0/,
$0$6,
02'(/(
(6,0%,
,38/2
$*+(0:(+
$*+(0:80
%8&$0(5221
$*+(0,68
00(1
%$%$1.,
%80%&$0(5221
.82
.200%,=,1$.8 1&%$172,'
.20
.(16:(,16(,
%$%81*2
:86+,
'(:81*76(
0)807(
*+20$/$
*+20$/$
1'$1'$68'
%$0,/(.(
0('80%$
)()(
)()(
1'(%8.:2.
1'(<8/$1$
<$0%$
081*$.$
6+83$0(0
 081*$.$
6+83$0(0
'=2',1.$
/,0%80
<(0%$
<(0%$
081'$1,
%$0%,/,
%$)87
3,1<,1
$:,1*
0$1.21
/$.+27$
:,11(%$*2
26$*(
6LR6,28$1
%,/2;,
&52:
+,'$76$
$%,321 *FX*8$,&858$1
-$5$:$
6$Q6287+$1'$0$1(6(
21*(
02&29,
3,/$*$
*FX*8$,&858$1
72%$
.$',:(8
0$&$
1,9$&/(
&+2527( 0DW0$7$&2$1
:,&+,/+$07(6*8,61$<
:,&+,/+$07(69(-2=
$5,.$5$
&DG&$''2$1
:,&+,7$
1<$0%((1**(
1<$0%((1**(
%812*(
$03$5,3$
'2*21 1&'2*21
:$/2.80%(
$1$7,1*$
7(%8/85(
<$1'$
0(1<$ 71*$1*$1
%85,$7021*2/,$
02*+2/
$OW021*2/,&
.$/0<.
021*2/,$1
0$1&+8
(9(1
$OW781*86,&
(9(1.,
8',+(
/(+$5
6$)(1
121
1'87)$/25
3$/25
%,$)$'$
3$-$'(
1&1257+(51$7/$17,&
6(5(56,1(
)8/$
38/$5
%$/$17$
1$/8
0$1.$1
3$3(/
1',1*
72&+2
-20$1* 1&7$/2',
'(1*(%8
1*,/(
',2/$ 1&1257+(51$7/$17,&
25,* 1&5$6+$'
.2
:$51$1*
0252
7,52
/2*2/
6+,580%$ 1&+(,%$1
/$5868'$1
5(5(
87252
5(5(
87252
$%8/
(%$1*
181*
=+8$1*6287+(51
7$<
'(+21*
7..$07$,
7+$,
=+8$1*1257+(51
6$(.
/8
21*%( 7..$07$,
/,%$2',1*
7.+/$,
/,721*6+,
%8<$1*
38%,$2
7..$'$,
/$+$
3$+$
/$..-$ 7..$'$,
08/$2
.$0=+$1*/8
7..$07$,
0$21$1
68,
*(/$2
7..$'$,
/$&+,
$*8$581$
-,9$526+8$5
-LY-,9$52$1
$&+8$5
+8$0%,6$
7$5$6&$1 7DU7$5$6&$1
6$1'$:( .KR6$1'$:(
)8/1,2 0*H<$7(
.23$56,1*$5,1
.23$5
085,..$5$8
085,.
$1*25$0.$0%5,1'2 /65/2:(56(3,.
$1*25$0
<,0$6
&+$0%5,.,/,0%,7
&+$0%5,
.827 .XW.827
&+89$6+
*$*$8=8QQDPHG,Q6RXUFH
785.0(1
$=(5%$,-$1,1257+
785.,6+
'2/*$1
6$.+$
72)$
789$1
%$6+.,5
7$7$5
.$5$,0
$/7$, $OW785.,&
6+25
.+$.$6
6$/$5
8<*+85
.$5$.$/3$.
.$=$.+
.<5*<=
.+$/$-
8=%(.
.80<.
.$5$&+$<%$/.$58QQDPHG,Q6RXUFH
12*$,
.;2(
1$52
.25$1$
.KR&(175$/.+2,6$1
1$0$
*:,
*;$1$
18
;221
.KR6287+(51.+2,6$1
;2210$6$5:$
;22118(1
.2/<0$<8.$*,5 <ND<8.$*+,5
<$*8$ 3<3(%$<$*8$1
 .2/<0$<8.$*,5 <ND<8.$*+,5
<$*8$ 3<3(%$<$*8$1
026(7(1 0RV026(7(1$1
%$1$:$
-$0$0$',
-$5$:$5$
0$',-$ $UX$5$8$1
'(1,
.8/,1$$5$8$
3$80$5,
$/(87 ($$/(87
'$+$/2 $$6287+(51&86+,7,&
&+,7,0$&+$ &KW&+,7,0$&+$
+$'=$ +DG+$'=$
;,1&$ ;LQ;,1&$1
-,&$5,//$$3$&+(
1$9$-2
+83$ 1'H$7+$3$6.$1
&&$55,(5
7$1$&5266
(<$. 1'H(<$.
%$&$0$ $$%,80$1'$5$
+8$9( +XD+8$9($1
72721$&&2$7(3(&
72721$&+,*+/$1'
3$3$17/$72721$&
72721$&0,6$17/$
72721$&3$7/$<&+,&217/$ 7RW72721$&$1
;,&27(3(&72721$&
7(3(+8$7/$&+,&+,/&2
7(3(+8$+8(+8(7/$
7(3(+8$3,6$)/25(6
7$3$&+8/7(&
1+,*+/$1'0,;(
8/7(5,250,;(&
6+,*+/$1'0,;(
/2:/$1'0,;(
2/87$3232/8&$
6$<8/$3232/8&$
0=0,;(=248(
627($3$1=248(
7(;,67(3(&=248(
0$5,$&+,0$/$3$
0,*8(/&+,0$/$3$
=248(5$<21
&+,$3$6=248(
=248()5$1&,6&2/(21
67/$:5(1&(<83,.
<83,.&(175$/6,%(5,$1&+$3/,12
&<83,.
:(67*5((1/$1',& ($(6.,02
.$1*,5<8$50,8781
,18.7,787($67(51&$1$',$1
<83,.6,5(1,.
+(,/768.
:DN1257+(51:$.$6+$1
.:$.:$/$
1227.$
',7,'$+7 :DN6287+(51:$.$6+$1
0$.$+
3$(= 3DH3$(=$1
6+$67$ +RN6+$67$
&(175$/$<0$5$ $\P$<0$5$1
48(&+8$+8$</$6$1&$6+
,1*$38780$<2 4XH48(&+8$1
48(&+8$3$67$=$
08/$+$,$,%8
08/$+$ .ZD.:$/($1
08/$+$08/$+$
&2$6776,06+,$1 3HQ76,06+,$1,&
.$06$ &DP&$06$
+,*+/$1'7(48,67/$7(& 7HT7(48,67/$7(&$1
<$0$1$ <DP<$0$1$
7,.81$ 7LF7,&81$
$:$.( $UW$587$1,
68%7,$%$
$=2<87/$3$1(& 2068%7,$%$7/$3$1(&
7/$3$1(&0$/,1$/7(3(&
'22+:$$<$$<2
1&$'$0$:$
020,
.5(1$. 0*H%272&8'2
$%8,7$.$/(/$1* 71*7,025$/253$17$5
 $%8,7$.$/(/$1* 71*7,025$/253$17$5
&+,&208&(/7(&
+8$67(&
5$%,1$/$&+,
6$.$38/7(.2
6,3$.$3(16(
.$4&+,.(/1257+(51
863$17(.2
48,&+(
7=878-,/
32&20$0
32420&+,:(67(51
$*8$&$7(&
,;,/&+$-8/
7(.7,7(.2
0$0
.(.&+,
&+2/7,/$
0D\0$<$1
&+2/
&+217$/7$%$6&2
&+257,
023$1
/$&$1'21
,7=$-
0$<$<8&$7$1
$.$7(.2
4$1-2%$/($67(51
02&+2
-$&$/7(&
&+8-
72-2/$%$/
7=(/7$/2;&+8&
7=(/7$/
7=27=,/6$1$1'5(6
=,1$&$17$17=27=,/
+,/',
:$0',8
0$5*,
+8%$
.,/%$
387$,
&,%$.
%85$
1**:$+<,
)$/,*,/,
)$/,.,5,<$
%$==$
)878
*+<(
.$0$/(
1.$)$
'$%$
%$&$0$08/<(1
$$%,80$1'$5$
1=$1<,
*8'8
=,=,/,9$.$1
*8'(
)$/,%$*,5$
)$/,08&+(//$
0$)$
7(5$3,'/,0',
7(5$
+:$1$
%2*$
*$$1'$*$%,1
*$$1'$
:$1'$/$
'*+:('(
*/$9'$
&,1(1,
*$9$
0$6$1$
086(<
0$6$1$32*2
$$0$6$
3(9(3$/$
0(60(
3(9(/$0(
%$'(
1*,=,0
 1*,=,0
0,<$
:$5-,
%2/(
1*$02
.$5(.$5(
*(5$
'(5$
3(52
7$1*$/(
$1*$6
0:$*+$98/
*2(0$,
.2)<$5
0,6+,3
*:$*:$
$$:(67&+$',&
.$56+,
*$5$.8
$5$%,6+,
*,7$7$
1,0%,$
+$86$
.$12
-,0,
%2*+20
'<$5,0
'<$5,0
6$<$
'$66':$7
32/&,
*(-,
32/&,%8/,
32/&,=8/
&+$+$
,11(025
0(64$1
62''2
$5*2%%$
$0+$5,&
+$5$5,
=:$<
*$)$7
0(60(6
$$6(0,7,&
$5$0$,&
0,'2%8QQDPHG,Q6RXUFH
7,*5(
7,*5,1<$
+(%5(:
0$/7(6(
'(//<6
67$1'$5'$5$%,&
(*<37$5$%,&
1257+/(9$17,1($5$%,&
7$85$3%2580(668 %XU%850(62
72)$01$ 71*72)$10$
%(-$ $$%(-$
*252*21( $XV%85$55$1
.$0%27.$0%$5$0%$
/65%27,1
.$0%27
$/$*:$
%8581*(
$$6287+(51&86+,7,&
,5$4:
.:$'=$
<$$.8 $$($67(51&86+,7,&
0$$ $$6287+(51&86+,7,&
%,/,1
.(0$17
$$&(175$/&86+,7,&
;$07$1*$
$:1*,
%,5$</( $$%,5$</(
$5%25(
(/02/2
'$$6$1$&+
%25$1$25202
250$
:25202
42778*$//$
*,'2/(
%866$
.2062
%866$
.2062
*$::$'$
76$0$,
$$($67(51&86+,7,&
5(1',//(
620$/,
%$,62
$)$5
6$+2
%85-,
$/$%$
+$',<<$
/,%,'2
.$0%$$7$
*('(2
6,'$02
(0%(5$&+$0,
(0%(5$7$'2
(3(1$%$6858'2
(3(1$6$,-$
&KR&+2&2
&$7,2
(0%(5$'$5,(1
1257+(51(0%(5$
:281$$1
7,08&8$ 7LP7,08&8$
&$<8%$%$ &D\&$<89$9$
%25$
0,5$1$ +XL%25$1
08,1$1(
&$+8$5$12
$5$%(/$ =DS=$3$52$1
=$3$52
*8$+,%2
3/$<(52
&8,%$ *XD*8$+,%$1
-,718
*8$<$%(52
<$3(6( $Q<$3(6(
3$5$8-$12
$UZ$5$:$.$1
:$<88
=(1$*$
.$%</(
*+$7
6,:$
6(1+$-$'(65$,58QQDPHG,Q6RXUFH
$$%(5%(5
6(1+$-$
&(175$/$7/$67$0$=,*+7
7$5,),7
%(5%(50=$%8QQDPHG,Q6RXUFH
7$*$5*5(17
1,,.$338
18.,%(768
26+$0$0%(
&+,726(
3,5$725,6$58
+252%(768
<$.802
$6$+,.$:$
1$<252
%,+252
2%,+,52
.86+,+,52
$LQ$,18
6$0$1,
622<$
1$,52
5$,&+,6+,.$
7$5$1720$5,
2&+,+2
0$2.$
6,5$85$
+2..$,'2
.85,/
$,186$58
6+8086+8
%25252
0*H%25252
8027,1$
%$*$%,1$5,
/$1'20$
1&6287+(51$7/$17,&
7(01(
%$*$0$'85,
 7(01(
%$*$0$'85,
,=21
0(,1
,%$1, 1&,-2,'
.$/$%$5,
2.5,.$
$,.$1$ $LN$,.$1$
.:$=$ .Z].:$=$
&+,$3$1(&
20&+,$3$1(&0$1*8(
&+2527(*$
&2)$1 &RI&2)$1
3$.$$129$ &:&+$3$&85$:$1+$1
6$/,%$&2/80%,$ 6OY6$/,%$1
<8:$1$ <XZ<8:$1$
6(&2<$
6,21$
25(-21
.25(*8$<(
&8%(2
7$1,08&$
'(6$12
6,5,$12
%$5$6$12
0$&81$ 7XF78&$12$1
3,5$7$38<2
:$1$12:1
78&$12
&$5$3$1$
7$78<2
%$5$
:$,0$<$
78<8&$
<8587,
&+80$6+%$5%$5(12
&KX&+80$6+
&+80$6+,1(6(12
,:$00$< 6HS833(56(3,.
$1*$8$
$7(03/( 71*0$'$1*
3$<1$0$5
081'$1*
'$0$
*$/.(
3$0
.2 1&$'$0$:$
.$/,
1'2.0%$/,
1*280,
1-$.0%$,
*$5,)81$
,6/$1'&$5,%
$UZ$5$:$.$1
/2.212
7$,12
,5$17;( ,UD,5$17;(
6$%$1(
0$0$,1'( 1DP1$0%,.8$5$1
1$0%,.:$5$
58.$, $Q7628,&
2&$,1$
+8,72720858,
+XL+8,7272
+8,72720,1,&$
+8,72721,32'(
0$0$5$6(128)2
1$)$$5$ 1&*85
&()2
0%5( 1&XQFODVVLILHG
2.6$30,1 2NV2.6$30,1
.87(1$, .WQ.87(1$,
.$1$0$5,
.DW.$78.,1$1
.$78.,1$
$0$5$.$(5, +DU+$5$.0%(7
<8&+, <XF<8&+,
.8,.852
:$,0,5,$752$5,
&$5,%
<8.3$
3$1$5(
0$.86+,
7$85(3$1*
$.$:$,2
 7$85(3$1*
$.$:$,2
$5$5$'23$5$
,.3(1* &DU&$5,%$1
%$.$,5,
&$5,-21$
.$;8<$1$
:$,:$,
+,;.$5<$1$
0$48,5,7$5,
:$<$1$
$3$/$,
7,5,<2
2-,%:$($67(51
2-,%:(0,11(627$
2-,%:$6(9(518QQDPHG,Q6RXUFH
$/*2148,$1
&+,33(:$
327$:$720,
02+(*$1
$%1$.,:(67(51
0$+,&$1
'(/$:$5(0816((
81$0,8QQDPHG,Q6RXUFH
$7,.$0(.:
$OJ$/*2148,$1
&5((',&7
0217$*1$,6
1$6.$3,
1$17,&2.(8QQDPHG,Q6RXUFH
:$03$12$*1$7,&.
0(120,1((
0,$0,
)2;
.,&.$322
0,&0$&
3$66$0$482''<0$/,6((78QQDPHG,Q6RXUFH
.$6.$6.,$,//,12,6
%/$&.)227 $OJ$/*2148,$1
<852. $OJ<852.
./$0$7+ 3HQ./$0$7+02'2&
%8586+$6., %UV%8586+$6.,
:,178 3HQ:,178$1
.25($1 .RU.25($1
%81$. 71*7,025$/253$17$5
:,58 71*($67(51+,*+/$1'6
72:(,
'8%8$),
3DX3$8:$6,
'8%8
'8%881.12:1',$/
1(=3(5&(
3HQ6$+$37,$1
80$7,//$6$+$37,1
02/$/$ 3HQ02/$/$
.,2:$ .7.,2:$7$12$1
.$52. .DU.$52.
$/6($ 2&$OVHD
6,86/$: 2&6,86/$:$1
&$<$3$
&2/25$'2
$:$3,7 %DU%$5%$&2$1
*8$0%,$12
727252
&(175$/6,(55$0,:2.
1257+(516,(55$0,:2.
66,(55$0,:2.
3/$,160,:2. 3HQ0,:2.
2/$0(17.(
0,:2.%2'(*$
0,:2./$.(
087681
3HQ&267$12$1
5806(1
<2.8767,1/,11(+
3HQ<2.876
<2.87681.12:1
0$,'81257+:(671$.80
1(0$,'8 3HQ0$,'8$1
1,6(1$1
:$6+2 :VK:$6+2
:$332 :<:$332
<8., :<<8.,$1
,6$.$ 6NR.5,6$
.$12( .DS.$3,;$1$
 .$12( .DS.$3,;$1$
'802
'8685
/(,75(
6NR:(67(516.2
:8781*
6$1*.(
6.28
&$%(&$5&+,5,32
&$%(&$5 &KL7$/$0$1&$
%5,%5,
'25$648( &KL'25$6.(
7(5,%( &KL7$/$0$1&$
781(%2 &KL&+,%&+$13523(5
%8*/(5(085,5( &KL*8$<0,
%$5,&2/80%,$ &KL027,/21
5$0$ &KL5$0$
.2*8,
'$0$1$ &KL$58$.
,.$
%258&$ &KL7$/$0$1&$
&+,0,/$ &KP&+,0,/$
3(&+ &KL3$<$
*8$<0,
&KL*8$<0,
1*$%(5(029(
0,6.,72
&$&$23(5$ 0LV0,680$/3$1
8/:$
&81$ &KL.81$
0(/(.8-$,.$ &KL5$0$
+,7,*,0$'$1,
7$1*0$'$1,
0,'*5$1'9$//(<'$1,
3<5$0,':2'2
833(53<5$0,''$1, 71*'$1,
$1**858.<$/,
.,1,$*(,0$
:$12
/$1,
%$5838
322
6NR:$5838
5$02
6802
32.25$:2
680$5$58 6NR6(55$+,//6
:202
.$85(
.DX.$85(
.26$5(
'252*25,
.858
*$0$(:(
32'$5,
:21,(
$%$0
3($:$
80(
:,3,0
.$3$/
,$0(*$
=,0
*8,$0
<87$
*,'5$-,%8
*,=5$.83(5(
*,=5$72*2
*,=5$:$,'252
:$,'252
:):(67(51)/<
.83(5(
72*2
*,=5$*,-$5$
'5$*(/,
,583,
%,1(,5(3,'5$*(/,
%,1(.81,1,
.81,1,
%,1(0$6,1*/(
0$6,1*/(
%,1(7$7,
7$7,
%,1(6(%(
 %,1(6(%(
6(%(
%,1(62*$/
62*$/
%,1(%2=(*,5,1*$5('(
%2=(
*,1*$5('(
$9$&$12(,52
.$0$<85$
.$<$%,
$685,1,;,1*8
7$3,5$3(
$685,1,
3$5$.$1$
6858,'23$5$
*8$-$-$5$
7(0%(
$1$0%(
*8$-$
858%8.$$325
1+((1*$78
.2.$0$
7XS783,*8$5$1,
20$*8$
3$5,17,17,1
$3,$.$
7(1+$5,0
$021'$9$
858(:$8:$8
:$<$03,
;(7$
$5$:(7(
*8$5$1,
&+,5,*8$12
*8$5$1,.$,:$
0%<$
$&+(
6,5,212
-8581$
7XS783,*8$5$1,
;,3$<$
&,17$/$5*$
*$9,$2'2-,3$5$1$ 7XS021'(
6858,'2521'21,$
.858$<$
7XS081'858.8
081'858.8
$:(7, 7XS$:(7,
6$7(5(0$:( 7XS0$:(6$7(5(
0$.85$3
0(.(16 7XS783$5,
783$5,
385, 0*H385,
&+(<(11( $OJ$/*2148,$1
.217,81$,
0$5,$'(,
7,1'$5(7
<DZ<$:$
$0%$'$,58
$5,(3,
6$5$:$1'25,
,721$0$ ,WR,721$0$
029,0$ 0RY029,0$
7,5,2 %XO%8/$.$5,9(5
0$./(:
0(./(:
%XO%8/$.$5,9(5
<(/0(.
<(/0(.-$%
$72+:$,0.$8*$7
.$8*$7
.D\.$<$*$5
.$<*,5
7$0$*$5,2
.$.8$
&1&$&8$18.$.
18.$.
38,1$9( 3XL38,1$9(
86.8 8VN86.8
.81.$5$.$1< $XV*81:,1<*,&
6$180$
<$120$0,
<DQ<$120$0
6+,5,6+$1$
<$1$0
0$;$.$/, 0*H0$;$.$/,
3$7$;2 3DW3$7$;2
 3$7$;2 3DW3$7$;2
.$5$-$ 0*H.$5$-$
;$9$17(
;(5(17(
3$1$5$
68<$
.5(<(
0*H*(.$,1*$1*
3<.2%-(
.5$+2
$3$1,(.5$
$3,1$<(
.$<$32
<$0%(6
<$03(6
7255,&(//,
.20%,2
7RU.20%,2$5$3(6+
$5$3(6+
$5$3(6+
:$0
:20
85$7 7RU:$3(,3$/(,
.8.:2 7RU85,0
:$/0$1 7RU:$3(,3$/(,
/,/$8
0RQ02180%2
02120%2
$8
7RU:$3(,3$/(,
1,1*,/
$*2%'$%8
'$%8
$*2%$*2%
080025(+($'$1'833(50$525,9(56
.$:$0
',%2/8*
$*2%%8*,
.,0$*+$0$
5,$17$1$ .RO.2/2320
1'20
.$5$6 :%P:(67%20%(5$,
021,
.$3$8.8 71*:,66(//$.(6.(0$1'2*$
:2'$1,
$8<$1$
$:$
*$'683
$*$5,%,
71*($67(51+,*+/$1'6
*$'683$*$5$%,
17$,525$
%,180$5,(1
7$,525$%,180$5,(1
)25( 71*($67(51+,*+/$1'6
*(1'( 71*($67(51+,*+/$1'6
,6$%, 71*0$'$1*
<$*$5,$
<$7(
%(1$%(1$
.$0$12.$)(
*,0,
6,$1( 71*($67(51+,*+/$1'6
<$%,<8)$
$6$52
*$+8.8$6$52
*$)8.8
*$+8.8
.:(5%$$,50$7,
.:(5%$1$,'-%('-
.ZH.:(5%$
.:(5%$.$8:(5$:(7,,
.:(5%$.$8:(5$:(7,
.3(//(
1&:(67(510$1'(
0(1'(
%(5,.
72725
%(55,.3$38$
6$:(
25<$81.12:1',$/ 7225<$
25<$
0$:(6'$,
720$:(6
0$:(6:$5(6
$',28.528 1&.:$
%$1-$56$5,(1**$12
$Q680$75$
0$/$.21,(1**$12
6$%(5, .ZH.:(5%$
6$0$52.(1$720$<2
 6$%(5, .ZH.:(5%$
6$0$52.(1$720$<2
71*'$1,
720$-2
1$*$7,0$1
<DO<$/(
1$*$70$1
0(.:(,.(1'$7(
0(.:(,:$%521
0(.:(,0$5,%8 1LP1,0%25$1
1,0%25$1%(680
1,0%25$1
025:$3 0UZ025:$3
,021'$
:$5,6
:$,1$
:$5,681.12:1',$/
0$1(00(5(0
6(1**,
0$1(06.2)52
$5=27$0,
%RU%25'(5
7$,.$7
7$,.$7*,5(5(
0$1(0,020
$:<,.,0%5,0252
$:<,.(0%5(
$:<,81.12:1',$/
$:<,1-$2
$:<,
+8%(
72%2
'('8$
%2521*
%85800,1',.
0,*$%$&
.$7(
0$3(
212
71*),1,67(55(+821
0202/,/,
1$%$.
.20%$
6(/(3(7
7,0%(
$:$5$
<2312
1(.
18.1$
6$:8<
.$(7,'8087
.$(7,
:$0%21
71*$:-8'8087
$*+8
3,6$
6,$*+$
<(1,08
<$.$<
<$4$< 0DU0$5,1'3523(5
:$5.$<
'81$
%2*$<$ 71*'81$%2*$<$
32*$<$
0$5,1'0$5,1'
0$5,1'
0$5,1'78*(5,
%(*8$
=,0$.$1,
%2$=,.8,1, 0DU0$5,1'3523(5
.8,1,
%2$=,%2$=,
%2$=,
%2$=,6287+
6287+%2$=,
$+($9(
.(858
23$2
(OH(/(0$13523(5
252.2/2
8$5,3,
72$5,3,
.$.,$(
(OH7$7(
7$(3$7$7,
.21(5$:
0RP020%80
020%81
.21(5$:
0RP020%80
020%81
,5,$$6,(1$5$
,5,$
.$0252
6(03$1 71*$60$7.$0252
$60$7&(175$/
&$68$5,1$&2$67$60$7
&,7$.
'81*(5:$%76,
,$8*$'81*(5:$%
,$8*$3$5% 080025(+($'$1'833(50$525,9(56
3$5%
<(<
$',%$
*2*2'$/$$',%$
*2*2'$5$
*2*2'$/$*$,0$ *6*2*2'$/$
*2*2'$/$
*2*2'$/$*,5$5$
*2*2'$/$$5,
68., *668.,
7$3$3,
7$%2:$,$ 080025(+($'$1'833(50$525,9(56
:$,$
0,1$1,%$,
7$268$0$72 ,*,1/$1'*8/)
,3,.2
*23(
85$0$
.(5(:2
025,*,
*,%$,2
$1,*,%,
%$08 .LZ.,:$,$1
:$%8'$
.,:$,
'2025,
6.,:$,6&0$:$7$
6.,:$,6&785(785(
785(785(
%,-$*2 1&%,-$*2
:$5$2 :DU:$5$2
$/)(1',2 /65$5$)81',
721.$:$ 7RQ721.$:$
0$,38$
(OH385$5,
385$5,
.29,2 71**2,/$/$1
025$25, 080025(+($'$1'833(50$525,9(56
78:$5,
/6/(21+$5'6&+8/7=(
:$/,2
.$08/$
$3$:,13$5(
3$
0$)8/8 71**2,/$/$1
%,0(
(,32
81$
71*0(.
.26$5(.
.26$5(.<$/(
<$/(
/$3$/$0$
6$5,(1*$
.<$.$(1*$
(1*$76$*$
76$*$
/$,$*$0(1*$
(1*$
%,625,2
3,.$58
,1,$, 71*(1*$1
/(0%(1$
0$,%,
<$5,%$
+8/,+2/(
+8/,
6$8
.(:$
.(:$632/(
32/(
.<$,0%$5$1*
/65<8$70$5$0%$
 .<$,0%$5$1*
/65<8$70$5$0%$
0,<$.
$20,(
%$5$,
02817$,1.2,$5,
71*.2,$5,$1
.2,7$*$
.2,$5,
.2,7$
%280$,
'20
6,1$6,1$
.80$1
1$.$1(
71*&+,0%8
.$1'$:2
1$5$.
0(/3$
$8$
*$:,/
.25$.
71*0$'$1*
:$6.,$
.25$)(<(*+$
7$)27$%$58*$
68(1$ 71*%,1$1'(5($1
%,1$1'(5(
0$0%$5(5,9(5
3$:$,$1
7HE3$:$,$1
3$:$,$
%,.$58 6HS6(3,.+,//
'$5,%,
%25232/23$
685,32/23$ 7HE7(%(5$1
)2/23$
623(6(32/23$
'(0 71*'(0
<$5(%$ <UE<$5(%$1
'$0$/ 71*:,66(//$.(6.(0$1'2*$
025 0RU025
7$1$+0(5$+ 71*0$,5$6,
'25208$5$0$,.$
'25208%$5(,.$
'25208/2)$,.$
71*0$18%$5$1
'25208
0$5,$0$5$1208
0$5,$
/25+21 1&*85
:2/2) 1&1257+(51$7/$17,&
1,+$/, 1LK1,+$/,
$5,
+$0$5 $$6287+2027,&
',0(
',=,0$-,
1$2 $$1257+2027,&
6+$.2
*$1=$ $$1257+2027,&
-$1-(52 $$1257+2027,&
.$)$
$$6287+2027,&
02&+$
$1),//2 $$1257+2027,&
%252 $$1257+2027,&
%(1&+2
6+((WKLRSLD
0$/((WKLRSLD
*,',&&+2
.2<5$
=$<6(
=(5*8//$ $$1257+2027,&
%$6.(72
.8//2
:(/$02
2<'$
'$&+(
'25=(
.$/8/,
621,$
$,0(/(
.$68$
21$%$68/8
%RV%26$9,
%($0,
('2/2
('2/2
%('$0,1,
%,$0,
%$,1$3,
)$68 71*)$68
)2( 71*.878%8$1
$*$/$ %RV%26$9,
.8%2
6$02
2'22'((
%,%2 (6($67675,&./$1'
2,%$(
*(%86,
+21,%2
'262 'RV'262
:0$.,$1
6$+8
7(51$7(
7,'25(
*$/(/$
3$*8
:31257++$/0$+(5$1
0$'2/(
02'2/(
7$%$58
72%(/2
/2'$
/2/2'$
0$38'81*81
$UF$5$8&$1,$1
5$148(/&+(
0$,%5$7 :31257+&(175$/%,5'6+($'
/($/$2&+,1$17(&
&+,1$17(&6$1)(/,3(86,/$
20&+,1$17(&$1
&+,1$17(&2-,7/$1
&+,1$17(&3$/$17/$
0$,5$6,)$5$1-$2
0$,5$6,
71*0$,5$6,
6(0,0,(71$%$<
6(0,0,
$:(5$ /3/$.(63/$,1
5$6$:$
(*%($67*((/9,1.%$<
6$321,
.$,5,
20$7,
7X.785$0$.,.25,$1
,.2%,
0(1$
%,.6, 6HS%,.6,
<(/(71<( <HO<(/(
<$), 3DX3$8:$6,
.$5.$5<85,
.<.$5.$5<85,
<85,
0$35,.
:26(5$
<(/2*8
0$1$0%8
1<$85$
6HS0,''/(6(3,.
1*$/$
%2,.,1
.:86$81
<(1*258
,$708/
.:20$ 6HS0,''/(6(3,.
%$+,1(02
.$35,0$1
6$1,2
$/$0%/$.
6HS6(3,.+,//
+(:$
3,$0(
*$%,$12
3$.$
$878
$:78: 6HS5$0
28<(
1$0,$ 6HS<(//2:5,9(5
0385 :3.(%$5
.858.+
'UD1257+(51'5$9,',$1
6$85,$3$+$5,$
7(/8*8 'UD6287+&(175$/'5$9,',$1
%$'$*$
.$11$'$
'UD6287+(51'5$9,',$1
 .$11$'$
'UD6287+(51'5$9,',$1
0$/$<$/$0
7$0,/
6287+(51*21', 'UD6287+&(175$/'5$9,',$1
.2'$9$8QQDPHG,Q6RXUFH
.2520)(8QQDPHG,Q6RXUFH 'UD6287+(51'5$9,',$1
78/88QQDPHG,Q6RXUFH
1257+:(67(51.2/$0, 'UD&(175$/'5$9,',$1
.27$8QQDPHG,Q6RXUFH 'UD6287+(51'5$9,',$1
*$'$%$3277$1*,2//$58QQDPHG,Q6RXUFH 'UD&(175$/'5$9,',$1
3$5-, 'UD&(175$/'5$9,',$1
.8,,1',$8QQDPHG,Q6RXUFH
.89,8QQDPHG,Q6RXUFH
*21',8QQDPHG,Q6RXUFH 'UD6287+&(175$/'5$9,',$1
.21'$8QQDPHG,Q6RXUFH
3(1*28QQDPHG,Q6RXUFH
$5$1'$,%$5$8
%$5$8
$5$1'$,:(5,$*$5
:(5,$*$5
$5$1'$,6(%<$5
$5$1'$,
$5$1'$,7$52)
7$52)
$5$1'$,1$-$5$*2
0DU6287+%,5'6+($'
$5$1'$,.$68:(5,
.$68:(5,
.$0321*%$58
385$*,
,1$1:$7$1
,1$1:$7$1%,5$
,1$1:$7$1,7,*2
,1$1:$7$162/2:$7
.21'$
$/<$:$55$
$5$1'$ $XV3$0$1<81*$1
.$,7,'-
%$8=,12,$',
%$8=,
(*%($67*((/9,1.%$<
7$581**$5(+
78581**$5(81.12:1',$/
%$648( %DV%$648(
6+$%2 166+$%2
.218$
:%J:(67%28*$,19,//(
5272.$6
632.$1(
6DO,17(5,256$/,6+
7+203621
%(//$&22/$ 6DO%(//$&22/$
&+(+$/,6833(5
6DO76$026$1
&2:/,7=
648$0,6+
&/$//$0 6DO&(175$/6$/,6+
6$/,6+675$,76
*$/
0$7(3,
6,/23,
878
%$,0$.
0$:$1
*$58+
.$0%$
*$586
5$37,1*
5(03,
<2,',.
%(0$/
026,02
:$0$6
6$026$
%$*83,
1$.(
08583,
6$58*$
*,5$:$
081,7
%$8
*80$/8
6,+$1
$0(/(
,6(%(
 $0(/(
,6(%(
3$1,0
.$5(
0$/(3DSXD1*
621*80
%20
%$5*$0
08*,/
6$(3
<$%21*
$5$:80
/(0,2
'8038
.2/20
6852,
38/$%8
'8'8(/$
(5,0$
.:$72 71*0$'$1*
-,/,0
5(5$8
<$1*8/$0
$6$6
.(6$:$,
85,*,1$
86,12
868
%,<20
7$8<$
.$7,$7,
6,/(,%,
(0(580
)$,7$
086$.
2680
:$'$*,1$0
025(6$'$
,.81'81
321'20$
$%$6$.85
.2*80$1
',0,5
+,1,+21
0$:$.
086$5
:$1$0%5(
.2:$.,
8/,1*$1
%(3285
02(5(
3,/$
6$.,
7$1,
3$<
%81$%81
0$/$6
$0$,021
:$180$
<$%(1
%,/$.85$
8.85,*80$
3$5$:(1
<$5$:$7$
.$185,
16:(67(516$+$5$1
0$1*$
%(5,$ 16($67(516$+$5$1
.8681'$ .XV.8681'$
%$1$52 /65%27,1
$)2$ 71**2,/$/$1
$125
/65$11$%(5*
5$2
*$0(,
/65/2:(55$08
.$,$1
0,.$5(:0$.$58% /65/2:(55$08
*,5,
*,5,.,5( /650,.$5(:
.,5(
($67(51%$/7,
:(67(51%$/7,
 ($67(51%$/7,
:(67(51%$/7,
385,.
.<,521* 67%2',&
7,%(7$1&(175$/
0$1$1*(
*+$&+2.
'+$00$, 67'+$00$,
7$.$.+$0
/,0%8 67%2',&
0(:$.+2/$/,0%8
.$7+0$1'8 67%2',&
.$0$1 670,5,6+
.+$/,1* 67%2',&
:$0%8/( 67%2',&
/(3&+$ 67/(3&+$
7$5$21
$3$7$1,
670,5,6+
%(1*1,
%2.$5
$.+$ 67%850(6(/2/2
$&+$1*
=$,:$
67%850(6(/2/2
%850(6(
1868
1$;, 671$;,
-,12
03,
%,68
'$)$1*
;,'( 67%850(6(/2/2
%,<8(
/$+8
/,68
1$1-,$1*
0,.,58QQDPHG,Q6RXUFH 67.8.,&+,11$*$
*$52 67%$5,&
.$&+$5, 67%$5,&
:$1$1* 67%$5,&
$721* 67-,1*+32
&$1721(6(
+$..$
0$1'$5,1
67&+,1(6(
$02<0,11$1&+,1(6(
+$,1$10,11$1&+,1(6(
68=+28:8
&+,$1*5$,0,(1
7$,3$10,(1
+$,1,1+0,(1
<$2
6+(&KLQD
+08
=+(1)(1*+021*
+0+021*0,(1
;,$1*;,+021*
%818
+021*1-8$
68<21*+021*
+021*'$:
3+(7&+$%81+021*
7$.+021*
0$*25, $Q2&($1,&
0$,/8 71*0$,/8$1
'208
71*0$,/8$1
/$8$
02/0221( 7RU:(67:$3(,
.$<$+/,($67(51 67.$5(1
0$1*8QQDPHG,Q6RXUFH $X$3$/$81*.+08,&
%/$1*8QQDPHG,Q6RXUFH
:$
'($1*
3$/$81*8QQDPHG,Q6RXUFH $X$3$/$81*.+08,&
%,7
.+08
.6,108/
58&
$X$9,(70821*
9,(71$0(6(
.+$6, $X$.+$6,$1
625$8QQDPHG,Q6RXUFH
-8$1*8QQDPHG,Q6RXUFH
.+$5,$8QQDPHG,Q6RXUFH
 -8$1*8QQDPHG,Q6RXUFH
.+$5,$8QQDPHG,Q6RXUFH
5(028QQDPHG,Q6RXUFH $X$081'$
.25:$8QQDPHG,Q6RXUFH
081'$5,
6$17$/,
&+21*8QQDPHG,Q6RXUFH $X$021,&
0,1250/$%5, $X$3$/$81*.+08,&
&(4:21*
.(16,88QQDPHG,Q6RXUFH $X$$6/,$1
6(0$,
021
$X$021,&
1<$.85
.+0(5 $X$.+0(5
%58:(67(518QQDPHG,Q6RXUFH
$X$.$78,&
.8,7+$,/$1'
6(0$4%(5,8QQDPHG,Q6RXUFH
$X$$6/,$1
6(0(/$,8QQDPHG,Q6RXUFH
6('$1*
72'5$+8QQDPHG,Q6RXUFH
%$+1$5
&+5$8
-(+
1+$+(81 $X$%$+1$5,&
/29(1
%5$2
6$38$1
&+(1*
2,
*20$,'-
0$1**$/,/,
0$5$5%$
*2%$%,1*2
5,'$51*2
:$5$0(5,
*$/%8
$XV3$0$1<81*$1
5,5$,'-$1*2
:$1*85,
<$1$1*2
'$/:21*2
'-$38
'-,1$1*
'-,1%$
181**8%8<8 $XV181**8%8<8
*$5$:$ $XV*$55:$1
/,0,/1*$1 $XV/,0,/1*$1
/$5$*,<$
$XV/$5$*,<$1
/$55$.,$
,1*85$ $XV$1,1',/<$.:$
80%8*$5/$ $XV80%8*$5/$1*80%85
.2%21 71*0$'$1*
+$58$,:$,%8.
:,<$:
$5$02
+$*$+$,$5$02,, 8<833(5<8$7
1$1*(18:(7$1
3,1$,,
3,1$,
%8$1
$XV*81:,1<*,&
*81'$1*%21
5$,1%$51*2 $XV5(0%$51*$
1*$/$.$1 $XV1*$/$.$1
1*$1', $XV1*$1',
*81%$/$1*:$5/$1* $XV*81:,1<*,&
*81:,1<*8 $XV*81:,1<*,&
'-$8$1 $XV1'-(%%$1$
0$1*$5$,
$XV0$1*$55$<,
0$1*$5$<,
*81$9,'-,
$XV1'-(%%$1$
1'-(%%$1$
<$1*0$1 $XV*81:,1<*,&
:$5'$0$1 $XV<$1*0$1,&
:$*,0$1 $XV:$*,0$1
81*$5,1<,1 $XV:2525$1
'-$58 $XV3$0$1<81*$1
%818%$
$XV%818%$1
*221,<$1',
0$5$
:$1'$5$1* $XV0$5$1
$/$:$
 $/$:$
<$1<8:$ $XV3$0$1<81*$1
0$5*8 $XV,:$,'-$1
%85$55$ $XV%85$55$1
*$$*8'-8 $XV*$$*8'-8
$085'$.
,:$,'-$ $XV,:$,'-$1
0$:1*
*$1**$/,'$ $XV7$1*.,&
7,:, $XV7,:,$1
1*$1*,.85581**855
1*(1*20(5, $XV6287+(51'$/<
1*$1.,:80,55,
0855,1+,3$7+$ $XV0855,1+3$7+$
0$'1*(/(
<81**25 $XV($67(51'$/<
.$025
0$/$.0$/$.
$XV1257+(51'$/<
7<$5$,7<
%$7<$0$/
381*8381*8 $XV$1621%$<
:$'<*,1<
$0,
0$1'$
0$5$181**8
0$5$0$1$'-,
0$5(1*$5 $XV:(67(51'$/<
0$5,7<$%(1
0$5,'$1
0$5($008
0$5,7+,(/
$1*.$087+,
<$'+$<.(18
$7$03$<$
85$'+,$7$03$<$
85$'+,$1*.$087+,
85$'+,<$'+$<.(18
.8*81*$1+&$5$
:,.081*.$1
3$1<-,0$
<,1'-,%$51',
1*$/220$
0$5787+81,5$
:$'-$55,
1<81*$5
3,1783,
:$5/3,5,
0$<.8/$1
1*$:81
0$<,<$3,
0$<,7+$.857,
0$<$*8'81$
3,77$3,77$
<$/$511*$
.$/.$781*8
3817+$0$5$
:$1*.80$5$
',<$5,
6%$*$1'-,
$XV3$0$1<81*$1
*80%$<1**,5
*,'$%$/
0$1$1'-$/,
:$..$:$..$
'$5$0%$/
*25(1**25(1*
0858:$5,
*$0,/$5$$<
1*,<$0%$$
'-$%8*$<
<,',1<
*88*8<$/$1'<,
*88*8<,0,'+,55
%,5$<
:$5*$0$<
1<$:$<*,
'<,5%$/
*,5$0$<
0$08
*$1*8/8$
 *$1*8/8$
:,55,
*$1*8/8%
%,55,
%,'-$5$
*81**$5,
0$5*$1<
*81<$
*8:$08
%$*:$/$/
7,1',
.$5$7$
%27/,.+
*2'2%(5, 1'D$9$5$1',&76(=,&
$1',
&+$0$/$/
$.+9$.+
$9$5
$5&+, 1'D/(=*,&
'$5*:$
1'D/$.'$5*:$
/$.
8',
.+,1$/8*
5878/
76$.+85
%8'8.+ 1'D/(=*,&
.5<=
/(=*,
$*8/
7$%$6$5$1
%$76
&+(&+(1 1'D1$.+
,1*86+
%(=+7$
+81=,%
+,18.+
1'D$9$5$1',&76(=,&
76(=
,1.+2.:$5,
.+:$56+,
$'<*+(
.$%$5',$1
8%<.+ 1:&1257+:(67&$8&$6,$1
$%$=$
$%.+$=
/(1*8$
6$1$3$1$$1*$,7( 0DV0$6&2,$1
6$1$3$1$(1/+(7
*5((. ,(*5((.
:,<27 $OJ:,<27
*8$72 0*H*8$72
.(7 <HQ<(1,6(,$1
7/,1*,7 1'H7/,1*,7
0(1,1**2
0(<$+ (%+($67%,5'6+($'
628*%
+$7$0 :3+$7$0
/025(+($'3(5(0.$
080025(+($'$1'833(50$525,9(56
3(5(0.$
'$:
1$'(%
9-9$83(6-$385$
-83'$
<8+83
6+203(1* 6KR6+203(1*
3,5$+$ 0XU085$
$.$%$/(
$.$%($
%($
$.$&$5,
$.$.('( *$*5($7$1'$0$1(6(
$.$%2
2.2-8:2,
$.$.2/
$.$38&+,.:$5
&$086
6$0385
0$$6$,
21*$02
'21*27212
/2.2<$
1<$1*$720
 /2.2<$
1<$1*$720
785.$1$
.$5,02-21*
7(62
.$.:$
021'$5,
%$5,68'$1 161,/27,&
1<$1**:$5$
.8.8
1*<(38
2027,.
62*22
18(5
5(.
6+,//8.
$&+2/,
/82
$/85
/$1*2
0$1*(5,
$XV*,,0%,<8
81,51$1**
3(/($7$:$6, :DV:$6,
7(0(,1 167(0(,1
6,1<$5
.(1*$
%$*,50,
)(5
*8/$6$5$
*8/$=85$
*8/$0(5( 16%21*2%$*,50,
1'2.$
1$
%(-21'
1*$0%$<
0%$<
6$5&+$'
$0*2752
'(5$$0*2752
'(5$081**8$), 6HQ6(1$*,
'8.$(.25021**2:$5
021**25
%$,%$,
.)%$,%$,
)$6
086$1
086,$1 $0$072086$1
$072
%,$0, 6HS6(3,.+,//
'-(50$
16621*+$<
7$'$.6$+$.8QQDPHG,Q6RXUFH
'(07$$0%25$
'(07$
6QW6(17$1,
'(07$81.12:1',$/
'(07$085,6
%86$3DSXD1* 2GL2',$,
2:,1,*$
%2
52&.<3($.
$0$ /H0/()70$<
1,02
1$.:,
1,021$.:,
7$%/$81.12:1',$/
7$%/$:
7$%/$& 6QW6(17$1,
7$%/$
6(17$1,
$<25(2 =DP=$08&2$1
21$
&KQ&+213523(5
7(+8(/&+(
%,$.$
.).:207$5,
.:207$5,
78/,6+,
.8521',
)$0$
.521*2
.(,*$
.$0'$1* .DG.$'8*/,
.$1*$
&+,5252
 .$1*$
&+,5252
.$7&+$
.$'8*/,
0,5,
3<8 .)3<8
$7$.$3$ $WD$7$.$3$
&+(52.(( ,UR6287+(51,52482,$1
&8,7/$7(& &XL&8,7/$7(&
%(27+8. %HR%(27+8.
:$25$1, :DR:$25$1,
75,48,&+,&$+8$;7/$ 200,;7(&$1
7$86+,52 7DX7$86+,52
32520( .LE.,%,5,
/(1&$(/6$/9$'25
/HQ/(1&$1
/(1&$+21'85$6
48,248,7$1,48,(5,=$327(&
;$1$*8,$=$327(&
=$327(&0,;7(3(&
$0$7/$1=$327(&
$<248(6&2=$327(&
6$13('5248,$721,=$327(&
=$327(&0,7/$
6$17$0$5,$48,(*2/$1,=$327(&
7(;0(/8&$1=$327(&
2&27/$1=$327(&
,67+086=$327(&
6$17$,1(6<$7=(&+,=$327(&
7,/48,$3$1=$327(&
20=$327(&$1
=$327(&<$/$/$*
=$327(&<$7=$&+,
=$327(&=22*2&+2
&$-2126=$327(&
&+2$3$1=$327(&
=$327(&6,(55$'(-8$5(=
$/2$3$0=$327(&
<$5(1,=$327(&
/$&+,;,2=$327(&
=$327(&6$1/8&$648,$9,1,
&+$7,127$7$/7(3(&
&+$7,12:(67(51+,*+/$1'
=$&$7(3(&&+$7,12
$08=*2 20$08=*2$1
&8,&$7(&
0,;7(&$/&2=$8&$
200,;7(&$1
0,;7(&&+$<8&2
<2621'8$0,;7(&
+$1,6&226 2&&226$1
2)$<( 0*H23$<(
2121'$*$
6(1(&$
21(,'$ ,UR1257+(51,52482,$1
02+$:.
786&$525$
*8'$1-,
:$0%$<$ $XV:(67%$5./<
'-,1*,/,
<$1$ +RN<$1$
0$7/$7=,1&$6$1)5$1&,6&22;727,/3$1
0$=$+8$&(175$/
202720,$1
2720,0(=48,7$/
2720,48(5(7$52
3$3,3$83( /6/(21+$5'6&+8/7=(
4$:$64$5 $OD$/$&$/8)$1
&$7$:%$ 6LR6,28$1
<$5852 <UU<$5852
=81, =XQ=81,
&+,0$5,.2 +RN&+,0$5,.2
(3202
+RN3202$1
6287+(513202
&+,3$<$ 8&858&+,3$<$
6(5, +RN6(5,
6$/,1$1 6OQ6$/,1$1
+$9$683$,
:$/$3$,
3$,3$,
<$9$3$,
.,/,:$
0$5,&23$
+RN<80$1
<80$
 0$5,&23$
+RN<80$1
<80$
02-$9(
',(*8(12
&2&23$
&$032
7,3$,
%$1,9$
7$5,$1$
%$1,:$
&855,3$&2
&$%,<$5,
3,$32&2
$&+$*8$
%$5(
:$5(.(1$
<$9,7(52
7$5,$12
%$+8$1$
0$:$<$1$
:$3,;$1$
3$5(6,
6$5$9(.$
3$/,.85
<$:$/$3,7,
0(+,1$.8
:$85$
$UZ$5$:$.$1
5(6,*$52
<8&81$
0$6+&23,52
3,52
0$;,1(5,
$385,1$
,1$3$5,
&+$0,&852
%$85(
,*1$&,$12
75,1,7$5,2
.,1,.,1$8
7(5(1$
$08(6+$
$08(6+$
&$48,17(
$6+(1,1.$
&$03$'(3(5(1(
0$&+,*8(1*$
120$76,*8(1*$
&+$<$+8,7$
&DK&$+8$3$1$1
-(%(52
0$=$7(&&+,48,+8,7/$1
&+2&+27(&
,;&$7(&
203232/2&$1
3232/2&$'(6$19,&(17(&2<27(3(&
3232/2&$0(7=217/$
3232/2&$6$1-8$1$7=,1*2
&$1'26+, &QG&$1'26+,
.81=$ .XQ.81=$
&+,&.$6$:
&+2&7$:
&5((.
0XV086.2*($1
0,.$68.,
$/$%$0$
.2$6$7,
$5$5$3$12
<$:$1$:$
<$0,1$:$
.$;,1$:$
.$78.,1$3$12
0$58%2
6+$1(1$:$
&+$&2%2
&$3$1$+8$
$0$+8$&$ 3DQ3$12$1
6+$5$1$+8$
&$6+,%2
6+,3,%2
32<$1$:$
.$;$5$5,
0$76(6
.8/,1$3$12
 .8/,1$3$12
0$7,6
.21,%2
(6((--$
$5$21$
7DF7$&$1$1
&$9(1(1$
7$&$1$
$&+80$:,
+RN3$/$,+1,+$1
$768*(:,
.$5,5,;2&2 0*H.$5,5,
7580$, 7UX7580$,
0(720.$08<8
6287+.$7,
',*8/08<8
1,1$7,(08<8
1257+.$7,
1,1**,580.$:20$
71*2.
7(/()2/
7,)$/
$1*,<$.0,1)$,:2/
%,0,1
0,$1
:$*$5$%$,
0$<2
<$48, 8$&$+,7$
23$7$
&(175$/7$5$+80$5$
8$7$5$+80$5$1
+8$5,-,2
(/1$<$5&25$
8$&25$&+2/
+8,&+2/
7(3(&$12
3,0$%$-2 8$7(3,0$0
72+21222'+$0
&$+8,//$ 8$7$.,&
78%$78/$%$/ 8$78%$78/$%$/
+23, 8$+23,
&20$1&+(
6+26+21,
1257+(513$,87(
8$180,&
6287+(513$,87(
87(
87(
32&+87/$1$+8$7/
1$+8$7/0(&$<$3$1
1$+8$7/3$-$3$1
1$+8$7/48(7=$/$3$$=2<8
1$+8$7/$&$;2&+,7/$1
1$+8$7/&8$&8,/$+8$8&+,1$1*2
1$+8$7/;,/2&8$87/$+8$8&+,1$1*2
1$+8$7/6$1-(521,12$0$1$/&2
1$+8$7/67$0$&2$3$1
1$+8$7/6$13('527/$/&8$3$16$17$$1$&
1$+8$7/-$/$7/$&2
1$+8$7/6$17$$1$7/$&27(1&2
1$+8$7/;$/$7=$/$7/$3$
1$+8$7/;$/3$7/$+8$&
1$+8$7/;$$/,7/$7(3(&8$8,/&2
1$+8$7/+8,7=,/7(3(&=803$1*2'(/5,2
1$+8$7/6$1$*867,12$3$1
1$+8$7/-,&2&,1*2=$&$7/$1
1$+8$7/+8$7/$7/$8&$
1$+8$7/6$10,*8(/$<27/$
1$+8$7/6$13$%/2=248,7/$1
1$+8$7/5$)$(/'(/*$'2
1$+8$7/6$1-26(0,$+8$7/$1
1$+8$7/6$1)5$1&,6&27/$/1(3$17/$
7(7(/&,1*21$+8$7/
1$+8$7/$<272;&2
1$+8$7/5(<(6'(9$//$57$78=$0$3$1
1$+8$7/&+,*1$87/$
1$+8$7/,;7$&$0$;7,7/$1 8$$=7(&$1
1$+8$7/&+,/2&2<2+8(+8(7/$
+,*+/$1'38(%/$1$+8$7/
3,3,/
1$+8$7/$&$7/$1
1$+8$7/=,7/$/$
1$+8$7/$7/,$&$7,;7/$
1$+8$7/&+,&+,48,/$
1$+8$7/&2<27(3(&
 1$+8$7/&2<27(3(&
1$+8$7/320$52$48,/$
1$+8$7/&+,/$&$&+$3$&8(7=$/$'(/352*5(
1$+8$7/&2$7(3(&&267$/(6
1$+8$7/6$1$*867,1'(%8(1$9(1785$
1$+8$7/6$13('52-,&25$
1$+8$7/0217(*5$1'(3/$7216$1&+(=
1$+8$7/&+,1$1&$+8$7/=$&8$/7,3$1
1$+8$7/=$+8$67,3$16$1$8*867,10(7=48,
1$+8$7/%8(126$,5(6$/$02
1$+8$7/&8$0(/&7,$1*8,67(1*2
1$+8$7//$6%$/6$6
1$+8$7/,;+8$7/$1'(0$'(52
1$+8$7//$5()250$7(3(+8$&$1'(*8(55(5
1$+8$7/&+,&217(3(&
1$+8$7/+8(<$7,<$+8$/,&$
1$+8$7/&2;&$7/$1
1$+8$7/;2&+,$7,3$1
1$+8$7/&8$7/$0$<$1$1721,26$1726
1$+8$7/7/$/1(3$17/$7$0$=81&+$/(
1$+8$7/;,/,7/$