quant Putual

;gjhgjYl]G^^a[]2.l`>dggj$K]Y:j]]r]:mad\af_$9hhYkY`]ZEYjYl`]EYj_$HjYZ`Y\]na$EmeZYa%,(((*-&tL]d2#1)**.*1--(((
O`YlkYhhe]kkY_]2#1)11*(*)***+t=%eYad2`]dh&afn]klgj8imYfl&aft`]dh&\akljaZmlgj8imYfl&aftooo&imYflemlmYd&[ge

;GEEGF9HHDA;9LAGF>GJE
6TF
UIJT
GPSN
JG
0OF
5JNF
#BOL
.BOEBUF
'PSN
JT
SFHJTUFSFE
JO
UIF
GPMJP
5P
CF
GJMMFE
JO
DBQJUBM
MFUUFST
BOE
JO
CMVF

CMBDL
JOL
POMZ "11
/P

     

     $% & '! !"#

R. R. LAHORI EUIN-
E054671
ARN-53115
3OHDVH5HDG$OO,QVWUXFWLRQVDVJLYHQLQ.,0WRKHOS\RXFRPSOHWHWKH$SSOLFDWLRQ)RUP&RUUHFWO\

  'HFODUDWLRQIRU³([HFXWLRQ2QO\´7UDQVDFWLRQ ZKHUH(PSOR\HH8QLTXH,GHQWL¿FDWLRQ1XPEHU(8,1 ER[LVOHIWEODQN 3OHDVHUHIHULQVWUXFWLRQRI.,0IRUFRPSOHWHGHWDLOVRQ(8,1,:HKHUHE\FRQ¿UPWKDWWKH(8,1ER[KDVEHHQ

LQWHQWLRQDOO\OHIWEODQNE\PHXVDVWKLVWUDQVDFWLRQLVH[HFXWHGZLWKRXWDQ\LQWHUDFWLRQRUDGYLFHE\WKHHPSOR\HHUHODWLRQVKLSPDQDJHUVDOHVSHUVRQRIWKHDERYHGLVWULEXWRUVXEEURNHURUQRWZLWKVWDQGLQJWKHDGYLFHRILQDSSURSULDWHQHVVLIDQ\SURYLGHGE\WKH
HPSOR\HHUHODWLRQVKLSPDQDJHUVDOHVSHUVRQRIWKHGLVWULEXWRUVXEEURNHU   ³,:HKHUHE\JLYH\RXP\RXUFRQVHQWWRVKDUHSURYLGHWKHWUDQVDFWLRQVGDWDIHHGSRUWIROLRKROGLQJV1$9HWFLQUHVSHFWRIP\RXULQYHVWPHQWVXQGHU'LUHFW3ODQRI
DOO6FKHPHVPDQDJHGE\\RXWRWKHDERYHPHQWLRQHG6(%,5HJLVWHUHG,QYHVWPHQW$GYLVHU5,$´

   !   "#  "    $   "#  "    %   "#  "
    " "      "      " 

3OHDVH 9 /XPSVXP,QYHVWPHQW 0LFUR$SSOLFDWLRQ 6,3$SSOLFDWLRQ

75$16$&7,21&+$5*(6 3OHDVHDQ\RQHRIWKHEHORZ5HIHU,QVWUXFWLRQ1R
 
,$0$),5677,0(,19(6725,10878$/)81'6
25 ,$0$1(;,67,1*,19(6725,10878$/)81'6
$SSOLFDEOHWUDQVDFWLRQFKDUJHVZLOOEHGHGXFWHGLQFDVH\RXUGLVWULEXWRUKDVRSWHGIRUVXFKFKDUJHV8SIURQWFRPPLVVLRQVKDOOEHSDLGGLUHFWO\E\WKHLQYHVWRUWRWKH$51+ROGHU $0),UHJLVWHUHG
'LVWULEXWRU EDVHGRQWKHLQYHVWRU¶VDVVHVVPHQWRIYDULRXVIDFWRUVLQFOXGLQJWKHVHUYLFHVUHQGHUHGE\WKH$51+ROGHU
 (;,67,1*81,7+2/'(5,1)250$7,21>3OHDVH¿OOLQ\RXU)ROLR1XPEHU.,16HFWLRQ SURFHHGWR6HFWLRQ,QYHVWPHQW'HWDLOV@

)ROLR1R &.<&,GHQWL¿FDWLRQ1R .,1

 $33/,&$17 6 1$0($1',1)250$7,21>5HIHU,QVWUXFWLRQ@,IWKHVW6ROH$SSOLFDQWLV0LQRUWKHQSOHDVHSURYLGHGHWDLOVRIQDWXUDOOHJDOJXDUGLDQ
VW
 62/($33/,&$170U0V0V 3$1
V 3OHDVHZULWHWKHQDPHDVSHU3$1&DUG
3OVLQGLFDWHLI863HUVRQRUDUHVLGHQWIRUWD[SXUSRVH5HVLGHQWRI&DQDGD
&.<&,'1R .,1
<HV 1R 'HIDXOWLIQRW9
VW
*8$5',$1 ,QFDVH $SSOLFDQWLVD0LQRU  5HODWLRQVKLSZLWK0LQRU 3OHDVH9
0U0V0V 0RWKHU )DWKHU /HJDO*XDUGLDQ
*8$5',$1&.<& .<& 3OHDVH9 *8$5',$1
,'1R .,1 3URRI$WWDFKHG 3$1

*8$5',$1$$'+$$51R $DGKDDU&RS\ 3OHDVH9  (QFORVHG

32$&XVWRGLDQ1DPH .<& 3OHDVH9 3URRI$WWDFKHG

32$&XVWRGLDQ 32$&XVWRGLDQ
&.<&,'1R .,1 3$1

&RQWDFW3HUVRQIRU&RUSRUDWH,QYHVWRU 1DPH 'HVLJQDWLRQ

 ),567$33/,&$17$1'.<&'(7$,/6
VW
 62/($33/,&$17,QGLYLGXDORU1RQ,QGLYLGXDO>3OHDVHILOO8OWLPDWH%HQHILFLDO2ZQHUVKLS 8%2 GHFODUDWLRQ)RUPLQ6HFWLRQD E5HIHU,QVWUXFWLRQ1R@

'DWHRI%LUWK ,QFRUSRUDWLRQ ' ' 0 0 < < < <  3OHDVH9

3URRIRI'DWHRI%LUWK %LUWK&HUWLILFDWH 6FKRRO/HDYLQJ&HUWLILFDWH0DUN6KHHW
,QGLYLGXDO 1RQLQGLYLGXDO )RUPLQRUDSSOLFDQW 3DVVSRUWRIWKH0LQRU 2WKHUV 3OHDVHVSHFLI\
3OHDVHZULWHWKH'DWHRIELUWKDVSHU$DGKDDU&DUG
3ODFHRI%LUWK &RXQWU\RI%LUWK 1DWLRQDOLW\ *HQGHU 0DOH )HPDOH 2WKHU
,QFRUSRUDWLRQ ,QFRUSRUDWLRQ
3OHDVHZULWHWKH'DWHRIELUWKDVSHU$DGKDDU&DUG

7\SH 5HVLGHQW,QGLYLGXDO 6ROH3URS 15,15( 7UXVW %DQN)OV ),,V 3,2 6RFLHW\$23%2, 0LQRUWKURXJK*XDUGLDQ 15,152

+8)
//3
/LVWHG&RPSDQ\ 3ULYDWH&RPSDQ\ 3XEOLF/WG&RPSDQ\ $UWLILFLDO-XULGLFLDO3HUVRQ 3DUWQHUVKLS)LUP )2)0)6FKHPHV 2WKHUVBBBBBBBBBBBBBBBBBBBB

3ULYDWH6HFWRU 3XEOLF6HFWRU *RYHUQPHQW6HUYLFH 6WXGHQW 3URIHVVLRQDO +RXVHZLIH

D 2FFXSDWLRQ'HWDLOV>3OHDVHWLFN 9 @
%XVLQHVV 5HWLUHG $JULFXOWXUH 3URSULHWRUVKLS 2WKHUVBBBBBBBBBBBBBBBBBBB
F 3ROLWLFDOO\([SRVHG3HUVRQ 3(3 6WDWXV $OVRDSSOLFDEOHIRUDXWKRULVHGVLJQDWRULHV3URPRWHUV.DUWD7UXVWHH:KROHWLPH'LUHFWRUV ,DP3(3,DP5HODWHGWR3(31RW$SSOLFDEOH

E *URVV$QQXDO,QFRPH  >3OHDVHWLFN 9 @ %HORZ/DNK /DNK /DNK /DNK !/DNK !&URUH

G 1HWZRUWK 0DQGDWRU\IRU1RQ,QGLYLGXDOV BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBDVRQ 1RWROGHUWKDQ\HDU

H 1RQ,QGLYLGXDO,QYHVWRUVLQYROYHGSURYLGLQJ )RUHLJQ([FKDQJH0RQH\&KDQJHU6HUYLFHV *DPLQJ*DPEOLQJ/RWWHU\&DVLQR6HUYLFHV
DQ\RIWKHPHQWLRQHGVHUYLFHV 0RQH\/HQGLQJ3DZQLQJ 1RQHRIWKHDERYH
 %$1.$&&2817'(7$,/60DQGDWRU\>5HIHU,QVWUXFWLRQ1RV @
1DPHRIWKH%DQN

&RUH%DQNLQJ$F1R $F7\SH3OV 9
PDQGDWRU\¿HOGV

15( &855(17 6$9,1*6 152

%UDQFK1DPH $GGUHVV

%UDQFK&LW\ 6WDWH 3LQ&RGH

3OHDVHDWWDFKDFDQFHOOHGFKHTXH ,)6&&RGH 0DQGDWRU\IRU

0,&5&RGH 25DFOHDUSKRWRFRS\RIDFKHTXH &UHGLWYLD1()757*6
  -2,17$33/,&$176,)$1<$1'7+(,5.<&'(7$,/6

0RGHRI+ROGLQJ $Q\RQHRU6XUYLYRU 6LQJOH -RLQW 3OHDVHQRWHWKDWWKH'HIDXOWRSWLRQLV$Q\RQHRU6XUYLYRU 

QG$33/,&$170U0V0V 1RW$SSOLFDEOHLQFDVHRI0LQRU$SSOLFDQW
*HQGHU 0DOH )HPDOH 2WKHU
3OHDVHZULWHWKHQDPHDVSHU3$1&DUG 
3$1'HWDLOV 3OVLQGLFDWHLI863HUVRQRUDUHVLGHQWIRUWD[SXUSRVH5HVLGHQWRI&DQDGD <HV 1R  'HIDXOWLIQRW9

&.<&,'1R .,1 .<&3OV 9 3URRI$WWDFKHG 'DWHRI%LUWK 0DQGDWRU\  BBBBBBBBBBBBBBBBBBBBB

$VSHU3$1&DUG

3ODFHRI%LUWK &RXQWU\RI%LUWK 1DWLRQDOLW\

3ULYDWH6HFWRU 3XEOLF6HFWRU *RYHUQPHQW 6WXGHQW 3URIHVVLRQDO +RXVHZLIH
D 2FFXSDWLRQ'HWDLOV>3OHDVHWLFN 9 @
%XVLQHVV 5HWLUHG 6HUYLFH$JULFXOWXUH 3URSULHWRUVKLS 2WKHUVBBBBBBBBBBBBBBBBBBB
E *URVV$QQXDO,QFRPH  >3OHDVHWLFN
%HORZ/DNK /DNK /DNK /DNK !/DNK!&URUH
9 @F 3ROLWLFDOO\([SRVHG3HUVRQ 3(3 6WDWXV ,DP3(3,DP5HODWHGWR3(3 1RW$SSOLFDEOH

1HWZRUWKBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBDVRQ
 1RWROGHUWKDQ\HDU 

0RGHRI+ROGLQJ $Q\RQHRU6XUYLYRU 6LQJOH -RLQW 3OHDVHQRWHWKDWWKH'HIDXOWRSWLRQLV$Q\RQHRU6XUYLYRU 

UG
 $33/,&$170U0V0V 1RW$SSOLFDEOHLQFDVHRI0LQRU$SSOLFDQW *HQGHU 0DOH )HPDOH 2WKHU
3OHDVHZULWHWKHQDPHDVSHU3$1&DUG 
3$1'HWDLOV 3OVLQGLFDWHLI863HUVRQRUDUHVLGHQWIRUWD[SXUSRVH5HVLGHQWRI&DQDGD <HV 1R  'HIDXOWLIQRW9

&.<&,'1R .,1 .<&3OV 9 3URRI$WWDFKHG 'DWHRI%LUWK 0DQGDWRU\  BBBBBBBBBBBBBBBBB

$VSHU3$1&DUG

3ODFHRI%LUWK &RXQWU\RI%LUWK 1DWLRQDOLW\

3ULYDWH6HFWRU 3XEOLF6HFWRU *RYHUQPHQW 6WXGHQW 3URIHVVLRQDO +RXVHZLIH
D 2FFXSDWLRQ'HWDLOV>3OHDVHWLFN 9 @
%XVLQHVV 5HWLUHG 6HUYLFH$JULFXOWXUH 3URSULHWRUVKLS 2WKHUVBBBBBBBBBBBBBBBBBBB
E *URVV$QQXDO,QFRPH  >3OHDVHWLFN 9 @ %HORZ/DNK /DNK /DNK /DNK !/DNK!&URUH
F 3ROLWLFDOO\([SRVHG3HUVRQ 3(3 6WDWXV
,DP3(3 1RW$SSOLFDEOH
 ,DP5HODWHGWR3(3
G 1HWZRUWKBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBDVRQ 1RWROGHUWKDQ\HDU 
D0$,/,1*$''5(66>3OHDVHSURYLGH\RXU(PDLO,'DQG0RELOH1XPEHUWRKHOSXVVHUYH\RXEHWWHU@

/RFDO$GGUHVVRIVW$SSOLFDQW

&LW\ 6WDWH 3LQ&RGH

7HO2II 5HV 0RELOHAA

(0DLOAA

7KH SULPDU\ HPDLO DGGUHVV DV SURYLGHG DERYH EHORQJV WR PHIDPLO\ PHPEHU       3OHDVH 9  ,Q FDVH ZKHUH WKH HPDLO DGGUHVVPRELOH QR LV QRW SURYLGHG RQ WKH


DSSOLFDWLRQ IRUPQRW DYDLODEOH LQ WKH WUDQVDFWLRQ IHHG ¿OH WKH HPDLO DGGUHVVPRELOH QR RI WKH VROH¿UVW DSSOLFDQW GHWDLOV ZLOO EH XSGDWHG DV SHU WKH .<& GDWD
AA3OHDVH8VH%ORFN/HWWHUV,QYHVWRUVSURYLGLQJHPDLO,'ZRXOGPDQGDWRULO\UHFHLYHDOO&RPPXQLFDWLRQV6WDWHPHQWRI$FFRXQWVDQG$EULGJHG$QQXDO5HSRUWWKURXJKHPDLORQO\
+RZHYHULI\RXVWLOOZLVKWRUHFHLYHSK\VLFDOFRS\RIWKHVFKHPHZLVHDQQXDOSUHSDUHRIDEULGJHGVXPPHU\WKHUHRISOHDVH 9 KHUH
E0DQGDWRU\IRU15,)OO$SSOLFDQW>3OHDVHSURYLGH)XOO$GGUHVV32%R[1RPD\QRWEHVXI¿FLHQW)RU2YHUVHDV,QYHVWRUV,QGLDQ$GGUHVVLVSUHIHUUHG@

2YHUVHDV&RUUHVSRQGHQFH$GGUHVV

 ,19(670(17$1'3$<0(17'(7$,/6 )RUFRPSOHWHLQIRUPDWLRQRQ,QYHVWPHQW'HWDLOVSOHDVHUHIHUWR,QVWUXFWLRQV1R
5HJXODU3ODQ ,'&:
6FKHPH 'LUHFW3ODQ *URZWK 'HIDXOW 3D\RXW 5HLQYHVWPHQW 'HIDXOW

3D\PHQW7\SH>3OHDVH 9@ 6HOI 1RQ7KLUG3DUW\3D\PHQW  7KLUG3DUW\3D\PHQW3OHDVHDWWDFKµ7KLUG3DUW\3D\PHQW'HFODUDWLRQ)RUP¶

$PRXQWRI&KHTXH'' ''&KDUJHV 1HW3XUFKDVH 'UDZQRQ%DQN 3D\,Q%DQN$F1R
&KHTXH''8751R 'DWH
57*61()7LQ¿JXUHV 5V LIDQ\ $PRXQW %UDQFK  )RU&KHTXH2QO\

 '(0$7$&&2817'(7$,/60DQGDWRU\IRUXQLWVLQ'HPDW0RGH 3OHDVHHQVXUHWKDWWKHVHTXHQFHRIQDPHVDVPHQWLRQHGXQGHUVHFWLRQPDWFKHVDVSHUWKH'HSRVLWRU\'HWDLOV

1DWLRQDO6HFXULWLHV'HSRVLWRU\/LPLWHG 16'/  &HQWUDO'HSRVLWRU\6HUYLFHV ,QGLD /LPLWHG &'6/

'31DPH '31DPH

'3,' , 1 %HQHI$&1R 'LJLW$&1R

(QFORVXUHV>3OHDVH 9 &OLHQW0DVWHUV/LVW &0/ 7UDQVDFWLRQFXP+ROGLQJ6WDWHPHQW 'HOLYHU\,QVWUXFWLRQ6OLS ',6

 120,1$7,21'(7$,/6>0LQRU+8)32$+ROGHU1RQ,QGLYLGXDOVFDQQRW1RPLQDWH5HIHU,QVWUXFWLRQ1R@
3/($6(5(*,67(50<285120,1(($63(5%(/2:'(7$,/6 25 ,:('2127:,6+72120,1$7(
'DWHRI%LUWK 1DPHRIWKH*XDUGLDQ
1R 1RPLQHH V 1DPH 5HODWLRQVKLS RI6KDUH 6LJQDWXUHRI1RPLQHH*XDUGLDQ
LQFDVHRI0LQRU LQFDVHRI0LQRU
PDQGDWRU\¿HOGV


  )$7&$ &56'(7$,/6 3OHDVHFRQVXOW\RXUSURIHVVLRQDOWD[DGYLVRUIRUIXUWKHUJXLGDQFHRQ)$7&$ &56FODVVL¿FDWLRQ )25121,1',9,'8$/621/<
3$57$7REH¿OOHGE\)LQDQFLDO,QVWLWXWLRQVRU'LUHFW5HSRUWLQJ1RQ)LQDFLDO(QWLW\ 1)(V

:HDUHD *,,1
)LQDQFLDOLQVWLWXWLRQ
1RWH,I\RXGRQRWKDYHD*,,1EXW\RXDUHVSRQVRUHGE\DQRWKHUHQWLW\SOHDVHSURYLGH\RXUVSRQVRU V*,,1DERYHDQGLQGLFDWH\RXUVSRQVRU VQDPHEHORZ
RU
'LUHFWUHSRUWLQJ1)(
1DPHRIVSRQVRULQJHQWLW\
>3OHDVHWLFN 9 @

*,,1QRWDYDLODEOH>3OHDVHWLFN 9@ $SSOLHGIRU 1RWUHTXLUHGWRDSSO\IRUSOHDVHVSHFLI\GLJLWVVXEFDWHJRU\ 1RWREWDLQHG±1RQSDUWLFLSDWLQJ),

3$57% SOHDVH¿OODQ\RQHDVDSSURSULDWH³WREH¿OOHGE\1)(VRWKHUWKDQ'LUHFW5HSRUWLQJ1)(V´

 ,VWKH(QWLW\DSXEOLFO\WUDGHGFRPSDQ\ <HV ,I\HVSOHDVHVSHFLI\DQ\RQHVWRFNH[FKDQJHRQZKLFKWKHVWRFNLVUHJXODUO\WUDGHG 

WKDWLVDFRPSDQ\ZKRVHVKDUHVDUHUHJXODUO\
WUDGHGRQDQHVWDEOLVKHGVHFXULWLHVPDUNHW 1DPHRIVWRFNH[FKDQJH

 ,VWKH(QWLW\DUHODWHGHQWLW\RIDSXEOLFO\ <HV ,I\HVSOHDVHVSHFLI\QDPHRIWKHOLVWHGFRPSDQ\DQGRQHVWRFNH[FKDQJHRQZKLFKWKHVWRFNLVUHJXODUO\WUDGHG 

WUDGHGFRPSDQ\ DFRPSDQ\ZKRVHVKDUHVDUH
UHJXODUO\WUDGHGRQDQHVWDEOLVKHGVHFXULWLHVPDUNHW 1DPHRIOLVWHGFRPSDQ\
7KHGHWDLORIWKLVSDJHVKRXOGEH¿OOHGE\1RQ,QGLYLGXDOLQYHVWRUVRQO\

1DWXUHRIUHODWLRQ 6XEVLGLDU\RIWKH/LVWHG&RPSDQ\RU &RQWUROOHGE\D/LVWHG&RPSDQ\

1DPHRIVWRFNH[FKDQJH

 ,VWKH(QWLW\DQDFWLYH1)( <HV ,I\HVSOHDVHILOO8%2GHFODUDWLRQLQWKHQH[WVHFWLRQ

1DWXUHRI%XVLQHVV

3OHDVHVSHFLI\WKHVXEFDWHJRU\RI$FWLYH1)( 0HQWLRQFRGH5HIHULQVWUXFWLRQ F

 ,VWKH(QWLW\DSDVVLYH1)( <HV ,I\HVSOHDVHILOO8%2GHFODUDWLRQLQWKHQH[WVHFWLRQ

1DWXUHRI%XVLQHVV
)RUGHWDLOVUHIHULQVWUXFWLRQ1R
D'(&/$5$7,21)258/7,0$7(%(1(),&,$/2:1(56+,3>8%2@   
7KLV GHFODUDWLRQ LV QRW QHHGHG IRU &RPSDQLHV WKDW DUH OLVWHG RQ DQ\ UHFRJQL]HG VWRFN H[FKDQJH RU LV D 6XEVLGLDU\ RI VXFK /LVWHG &RPSDQ\ RU LV &RQWUROOHG E\ VXFK /LVWHG &RPSDQ\ 3OHDVH OLVW EHORZ WKH GHWDLOV RI
FRQWUROOLQJSHUVRQ V FRQ¿UPLQJ$//FRXQWULHVRIWD[UHVLGHQF\SHUPDQHQWUHVLGHQF\FLWL]HQVKLSDQG$//7D[,GHQWL¿FDWLRQ1XPEHUVIRU($&+FRQWUROOLQJSHUVRQ V 2ZQHUGRFXPHQWHG)), VVKRXOGSURYLGH)),2ZQHU
5HSRUWLQJ6WDWHPHQWDQG$XGLWRU V/HWWHUZLWKUHTXLUHGGHWDLOVDVPHQWLRQHGLQ)RUP:%(1(
E'(7$,/62)8/7,0$7(%(1(),&,$/2:1(56>0DQGDWRU\@ ,IWKHJLYHQVSDFHEHORZLVQRWDGHTXDWHSOHDVHDWWDFKPXOWLSOHGHFODUDWLRQIRUPV
11
 .!$0     ," 2,    .   5  2 5  !$5 8959"$ 3*%  
 % "      "  6- 7    :   -   
4'  3 /  .   -895
  ;+ #. 
 <

     !  "  "!"#  $% $WWDFKHGGRFXPHQWVVKRXOGEHVHOIFHUWL¿HGE\WKH8%2DQGFHUWL¿HGE\WKHDSSOLFDQWRU$XWKRULVHGVLJQDWRU\,QFDVHWKH

DERYHLQIRUPDWLRQLVQRWSURYLGHGLWZLOOEHSUHVXPHGWKDWDSSOLFDQWLVWKH8%2ZLWKQRGHFODUDWLRQWRVXEPLW,QVXFKFDVH0$0)$0&UHVHUYHVWKHULJKWWRUHMHFWWKHDSSOLFDWLRQRUUHYHUVHWKHDOORWPHQWRIXQLWVLI
VXEVHTXHQWO\LWLVIRXQGWKDWDSSOLFDQWKDVFRQFHDOHGWKHIDFWVRIEHQH¿FLDORZQHUVKLS,:HDOVRXQGHUWDNHWRNHHS\RXLQIRUPHGLQZULWLQJDERXWDQ\FKDQJHVPRGL¿FDWLRQWRWKHDERYHLQIRUPDWLRQLQIXWXUHDQGDOVR
XQGHUWDNHWRSURYLGHDQ\RWKHUDGGLWLRQDOLQIRUPDWLRQDVPD\EHUHTXLUHGDW\RXUHQG
& '()   '* +     ,   -   -     '* +.      -!$ - ' ,   /
3$1$Q\RWKHU,GHQWL¿FDWLRQ1XPEHU 3$1$DGKDDU3DVVSRUW 2FFXSDWLRQ7\SH6HUYLFH%XVLQHVV2WKHUV
'2%'DWHRI%LUWK
(OHFWLRQ,'*RYW,''ULYLQJ/LFHQFH15(*$-RE&DUG2WKHUV 1DWLRQDOLW\
*HQGHU0DOH)HPDOH2WKHU
&LW\RI%LUWK&RXQWU\RI%LUWK )DWKHU V1DPH0DQGDWRU\LI3$1LVQRWDYDLODEOH

3$1 2FFXSDWLRQ7\SH
'DWH2I%LUWK
&LW\RI%LUWK 1DWLRQDOLW\
*HQGHU 0DOH )HPDOH 2WKHU
&RXQWU\RI%LUWK )DWKHU V1DPH

3$1 2FFXSDWLRQ7\SH
'DWH2I%LUWK
&LW\RI%LUWK 1DWLRQDOLW\
*HQGHU 0DOH )HPDOH 2WKHU
&RXQWU\RI%LUWK )DWKHU V1DPH

3$1 2FFXSDWLRQ7\SH
'DWH2I%LUWK
&LW\RI%LUWK 1DWLRQDOLW\
*HQGHU 0DOH )HPDOH 2WKHU
&RXQWU\RI%LUWK )DWKHU V1DPH

$GGLWLRQDOGHWDLOVWREHILOOHGE\FRQWUROOLQJSHUVRQVZLWKWD[UHVLGHQF\SHUPDQHQWUHVLGHQF\FLWL]HQVKLS*UHHQ&DUGLQDQ\FRXQWU\RWKHUWKDQ,QGLD
7RLQFOXGH86ZKHUHFRQWUROOLQJSHUVRQLVD86FLWL]HQRUJUHHQFDUGKROGHU
,QFDVH7D[,GHQWLFDWLRQ1XPEHULVQRWDYDLODEOHNLQGO\SURYLGHIXQFWLRQDOHTXLYDOHQW
  )$7&$$1'&56'(7$,/6 6HOI&HUWL¿FDWLRQ  5HIHULQVWUXFWLRQ1R )25,1',9,'8$/6 121,1',9,'8$/6
)25,1',9,'8$/63OHDVHLQGLFDWHDOOFRXQWULHVLQZKLFK\RXDUHUHVLGHQWIRUWD[SXUSRVHVDQGWKHDVVRFLDWHG7D[5HIHUHQFH1XPEHUVEHORZ
)25121,1',9,'8$/6,VWKH³(QWLW\´DWD[UHVLGHQWRIDQ\FRXQWU\RWKHUWKDQ,QGLD" <HV 1R
,I<HVSOHDVHSURYLGHFRXQWU\LHVLQZKLFKWKHHQWLW\LVDUHVLGHQWIRUWD[SXUSRVHDQGWKHDVVRFLDWHG7D[,GHQWLILFDWLRQ1REHORZ

VW$SSOLFDQW 6ROH*XDUGLDQ1RQ,QGLYLGXDO QG$SSOLFDQW UG$SSOLFDQW

'R\RXKDYHDQ\QRQ,QGLDQ 'R\RXKDYHDQ\QRQ,QGLDQ 'R\RXKDYHDQ\QRQ,QGLDQ

&RXQWU\ LHV RI%LUWK &RXQWU\ LHV RI%LUWK &RXQWU\ LHV RI%LUWK
&LWL]HQVKLS1DWLRQDOLW\ <HV 1R &LWL]HQVKLS1DWLRQDOLW\DQG <HV 1R &LWL]HQVKLS1DWLRQDOLW\ <HV 1R
DQG7D[5HVLGHQF\ 7D[5HVLGHQF\ DQG7D[5HVLGHQF\

&RXQWU\RI%LUWK &RXQWU\RI%LUWK &RXQWU\RI%LUWK

,QFRUSRUDWLRQ

&RXQWU\&LWL]HQVKLS &RXQWU\&LWL]HQVKLS &RXQWU\&LWL]HQVKLS

1DWLRQDOLW\ 1DWLRQDOLW\ 1DWLRQDOLW\

$UH\RXD86VSHFL¿HG <HV 1R $UH\RXD86VSHFL¿HG <HV 1R $UH\RXD86VSHFL¿HG <HV 1R

SHUVRQ" 3OHDVHSURYLGH7D[3D\HU,G SHUVRQ" 3OHDVHSURYLGH7D[3D\HU,G SHUVRQ" 3OHDVHSURYLGH7D[3D\HU,G

)RUQRQ,QGLYLGXDOLQYHVWRULQFDVHLI\RXFRXQWU\RILQFRUSRUDWLRQ7D[UHVLVWDQFHLQ86EXW\RXDUHQRWDVSHFLILHGXVSHUVRQWKHQSOHDVHPHQWLRQH[HPSWLRQFRGHBBBBBBBBBBBBBB 5HIHULQVWUXFWLRQ H
,QGLYLGXDORU1RQ,QGLYLGXDOLQYHVWRUV¿OOWKLVVHFWLRQ ,QGLYLGXDOLQYHVWRUKDYHWR¿OOLQEHORZGHWDLOVLQFDVHRIMRLQWDSSOLFDQWV
LIWLFNHG<HVDERYH

5  5  5 

7D[5HVLGHQF\ 7D[5HVLGHQF\ 7D[5HVLGHQF\

6WDWXV  6WDWXV  6WDWXV 

     

5  5  5 

7D[5HVLGHQF\ 7D[5HVLGHQF\ 7D[5HVLGHQF\

6WDWXV  6WDWXV  6WDWXV 

     

5  5  5 

7D[5HVLGHQF\ 7D[5HVLGHQF\ 7D[5HVLGHQF\

6WDWXV  6WDWXV  6WDWXV 

     

$GGUHVV7\SH $GGUHVV7\SH $GGUHVV7\SH

$GGUHVV7\SH5HVLGHQWLDORU%XVLQHVV GHIDXOW 5HVLGHQWLDO%XVLQHVV5HJLVWHUHG2I¿FH  )RUDGGUHVVPHQWLRQHGLQIRUPH[LVWLQJDGGUHVVDSSHDULQJLQIROLR

,QFDVHRIDSSOLFDWLRQVZLWK32$WKH32$KROGHUVKRXOGILOOVHSDUDWHIRUPWRSURYLGHWKHDERYHGHWDLOVPDQGDWRULO\

 '(&/$5$7,21$1'6,*1$785(67+80%,035(66,212)$33/,&$17 V >5HIHU,QVWUXFWLRQV H @

-  )TXDQW0XWXDO)XQG-(= $ +DYLQJUHDGDQGXQGHUVWRRGWKHFRQWHQWVRIWKH6,'RIWKH6FKHPHDSSOLHGIRU ,QFOXGLQJWKHVFKHPH V DYDLODEOHGXULQJWKH1HZ)XQG2IIHUSHULRG ,:HKHUHE\DSSO\IRUXQLWVRIWKHVDLGVXFKVFKHPHDQGDJUHHWRDELGHE\WKHWHUPVFRQGLWLRQV
UXOHVDQGUHJXODWLRQVJRYHUQLQJWKHVFKHPH % ,:HKHUHE\GHFODUHWKDWWKHDPRXQWLQYHVWHGLQWKHVFKHPHLVWKURXJKOHJLWLPDWHVRXUFHVRQO\DQGGRHVQRWLQYROYHDQGLVQRWGHVLJQHGIRUWKHSXUSRVHRIWKHFRQWUDYHQWLRQRIDQ\SURYLVLRQVRIWKH,QFRPH7D[$FW$QWL0RQH\/DXQGHULQJ/DZVRUDQ\
RWKHUDSSOLFDEOHODZVHQDFWHGE\WKH*RYHUQPHQWRI,QGLDIURPWLPHWRWLPH & 6LJQDWXUHRIWKHQRPLQHHDFNQRZOHGJLQJUHFHLSWVRIP\RXUFUHGLWZLOOFRQVWLWXWHIXOOGLVFKDUJHRIOLDELOLWLHVRITXDQW0XWXDO)XQG ' 7KHLQIRUPDWLRQJLYHQLQZLWKWKLVDSSOLFDWLRQIRUPLVWUXHDQGFRUUHFWDQGIXUWKHUDJUHHVWR
IXUQLVKDGGLWLRQDOLQIRUPDWLRQVRXJKWE\TXDQW0RQH\0DQDJHUV/WG)XQGDQGXQGHUWDNHWRXSGDWHWKHLQIRUPDWLRQGHWDLOVZLWKWKH$0&)XQG5HJLVWUDUVDQG7UDQVIHU$JHQW 57$ IURPWLPHWRWLPH,:HKHUHE\FRQ¿UPWKDWWKH$0&)XQGVKDOOKDYHWKHULJKWWRVKDUHP\LQIRUPDWLRQDQGRWKHUGHWDLOV
ZLWKWKHUHJXODWRU\DQGJRYHUQPHQWDXWKRULWLHVDVDQGZKHQQHHGHG,:HZLOOLQGHPQLI\WKH)XQG$0&7UXVWHH57$DQGRWKHULQWHUPHGLDULHVLQFDVHRIDQ\GLVSXWHUHJDUGLQJWKHHOLJLELOLW\YDOLGLW\DQGDXWKRUL]DWLRQRIP\RXUWUDQVDFWLRQV ( ,:HIXUWKHUGHFODUHWKDW>--  -  
."  - .. - .   ..   - .)  *  -.  -   .  #? -.' 7  ( . .# +- - -? -.*#  .. ."("@- * % . - "@- ' * "
..   '    "   ' * -("75"  *    -' . ,:HKDYHQRWUHFHLYHGQRUKDYHEHHQLQGXFHGE\DQ\UHEDWHRUJLIWVGLUHFWO\RULQGLUHFWO\LQPDNLQJWKLVLQYHVWPHQWA  *  '   '  # -    ,
:HKDYHUHDGXQGHUVWRRGDQGVKDOOEHERXQGE\WKHWHUPV FRQGLWLRQVRIWKH3,1DJUHHPHQWDYDLODEOHRQWKH$0&ZHEVLWHIRUWUDQVDFWLQJRQOLQHB,:HKHUHE\DJUHHWRFRQVHQWWKH$0&WRVKDUHP\WUDQVDFWLRQGHWDLOVWRWKHUHJLVWHUHGLQYHVWPHQWDGYLVRU 5,$ WKURXJKWKHUHJLVWUDURURWKHUZLVH
  *  ( # C# D,:HFRQ¿UPWKDW,:HVDWLVI\WKH5HVLGHQF\WHVWDVSUHVFULEHGXQGHU)(0$SURYLVLRQV,:HIXUWKHUGHFODUHWKDW,:HDPDUH3HUVRQ5HVLGHQWLQ,QGLDDQGDUHDOORZHGWRLQYHVWLQWRWKH6FKHPHDVSHUWKHVDLG)(0$UHJXODWLRQVDQGRWKHU
DSSOLFDEOHODZVDQGUHJXODWLRQVE"@ % . -  ."@   ?     - + ?    5     - #  - )"@-   -75)+- -'  -75  ' - #-   .." 
' .  -? -.8(5"5?5 % ,:HKDYHXQGHUVWRRGWKHLQIRUPDWLRQUHTXLUHPHQWVRIWKLV)RUP UHDGDORQJZLWKWKH)$7&$ &56,QVWUXFWLRQV DQGKHUHE\FRQ¿UPWKDWWKHLQIRUPDWLRQSURYLGHGE\PHXVRQWKLV)RUPLVWUXHFRUUHFWDQGFRPSOHWH,:HDOVRFRQ¿UP
WKDW,:HKDYHUHDGDQGXQGHUVWRRGWKH)$7&$ &567HUPVDQG&RQGLWLRQVDQGKHUHE\DFFHSWWKHVDPH,QFDVHWKHDERYHLQIRUPDWLRQLVQRWSURYLGHGLWZLOOEHSUHVXPHGWKDWDSSOLFDQWLVWKHXOWLPDWHEHQH¿FLDORZQHUZLWKQRGHFODUDWLRQWRVXEPLW,QVXFKFDVHWKHFRQFHUQHG6(%,UHJLVWHUHG
LQWHUPHGLDU\UHVHUYHVWKHULJKWWRUHMHFWWKHDSSOLFDWLRQRUUHYHUVHWKHDOORWPHQWRIXQLWVLIVXEVHTXHQWO\LWLVIRXQGWKDWDSSOLFDQWKDVFRQFHDOHGWKHIDFWVRIEHQH¿FLDORZQHUVKLS,:HDOVRXQGHUWDNHWRNHHS\RXLQIRUPHGLQZULWLQJDERXWDQ\FKDQJHVPRGL¿FDWLRQWRWKHDERYHLQIRUPDWLRQLQIXWXUH DOVR
XQGHUWDNHWRSURYLGHDQ\RWKHUDGGLWLRQDOLQIRUPDWLRQDVPD\EHUHTXLUHGDW\RXUHQGF - ,:HKHUHE\YROXQWDULO\VXEPLW$DGKDUFDUGWRWKH)XQG$0&IRUXSGDWLQJWKHVDPHLQP\IROLR

(X) (X)
6LJQDWXUHRIVW$SSOLFDQW*XDUGLDQ 6LJQDWXUHRIQG$SSOLFDQW*XDUGLDQ 6LJQDWXUHRIUG$SSOLFDQW*XDUGLDQ
$XWKRULVHG6LJQDWRU\3R$.DUWD $XWKRULVHG6LJQDWRU\3R$ $XWKRULVHG6LJQDWRU\3R$

/XPSVXPµ25¶6,3
)RU
$&.12:/('*0(176/,3

5HFHLYHG$SSOLFDWLRQIURP0U0V0VBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBDVSHUGHWDLOVEHORZ

6FKHPH1DPHDQG3ODQ 3D\PHQW'HWDLOV 'DWH 6WDPSRI&ROOHFWLRQ&HQWUH,6&

$PRXQW 5V  BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
&KHTXH  '' 1R BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
'DWHG BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
%DQN %UDQFKBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
&KHTXH''LVVXEMHFWWRUHDOLVDWLRQ
 quant Putual
;gjhgjYl]
]G^^a[]2.l`>dggj$K]Y:j]]r]:mad\af_$9hhYkY`]ZEYjYl`]EYj_$HjYZ`Y\]na$EmeZYa%,(((*-&tL]d2#1)**.*1--(((
O`YlkYhhe]kkY_]2#1)11*(*)***+t=%eYad2`]dh&afn]klgj8imYfl&aft`]dh&\akljaZmlgj8imYfl&aftooo&imYflemlmYd&[ge

4*1
&/30--.&/5
%&5"*-4

6TF
UIJT
GPSN
JG
0OF
5JNF
#BOL
.BOEBUF
'PSN
JT
SFHJTUFSFE
JO
UIF
GPMJP 5P
CF
GJMMFE
JO
DBQJUBM
MFUUFST
BOE
JO
CMVF

CMBDL
JOL
POMZ
%*453*#6503

#30,&3
*/'03."5*0/ "11
/P
/BNF

#SPLFS
$PEF

"3/ 4VC
#SPLFS

4VC
"HFOU
"3/
$PEF &NQMPZFF
6OJRVF
*EFOUJGJDBUJPO
/VNCFS 4VC
#SPLFS

4VC
"HFOU
$PEF 3*"
$PEF

ARN-53115
"3/ "3/
TUBNQ
IFSF "3/ EUIN - E054671
1MFBTF
TJHO
CFMPX
JO
DBTF
UIF
&6*/
JT
MFGU
CMBOLOPU
QSPWJEFE *8F
IFSFCZ
DPOGJSN
UIBU
UIF
&6*/
CPY
IBT
CFFO
JOUFOUJPOBMMZ
MFGU
CMBOL
CZ
NFVT
BT
UIJT
USBOTBDUJPO
JT
FYFDVUFE
XJUIPVU
BOZ
JOUFSBDUJPO
PS
BEWJDF
CZ
UIF

FNQMPZFFSFMBUJPOTIJQ
NBOBHFSTBMFT
QFSTPO
PG
UIF
BCPWF
EJTUSJCVUPSTVC
CSPLFS
PS
OPUXJUITUBOEJOH
UIF
BEWJDF
PG
JOBQQSPQSJBUFOFTT
JG
BOZ
QSPWJEFE
CZ
UIF
FNQMPZFFSFMBUJPOTIJQ
NBOBHFSTBMFT
QFSTPO
PG
UIF
EJTUSJCVUPS
TVC
CSPLFS


*8F
IBWF
JOWFTUFE
JO
UIF
4DIFNF T
PG
RVBOU .VUVBM
'VOE
VOEFS
%JSFDU
1MBO
*8F
IFSFCZ
HJWF
ZPV
NZPVS
DPOTFOU
UP
TIBSFQSPWJEF
UIF
USBOTBDUJPOT
EBUB
GFFE
QPSUGPMJP
IPMEJOHT
/"7
FUD
JO
SFTQFDU
PG
NZ
PVS
JOWFTUNFOUT
VOEFS
%JSFDU
1MBO
PG
BMM
4DIFNFT
.BOBHFE
CZ
ZPV
UP
UIF
BCPWF
NFOUJPOFE
.VUVBM
'VOE
%JTUSJCVUPS

4&#*3FHJTUFSFE

*OWFTUNFOU
"EWJTFS

'JSTU

4PMF
"QQMJDBOU

(VBSEJBO
QQ 4FDPOE
"QQMJDBOU

Q
QQ 5IJSE
"QQMJDBOU

QQ
"VUIPSJTFE
4JHOBUPSZ "VUIPSJTFE
4JHOBUPSZ
"VUIPSJTFE
4JHOBUPSZ

6QGSPOU
DPNNJTTJPO
TIBMM
CF
QBJE
EJSFDUMZ
CZ
UIF
JOWFTUPS
UP
UIF
".'*
SFHJTUFSFE
EJTUSJCVUPS
CBTFE
PO
UIF
JOWFTUPShT
BTTFTTNFOU
PG
WBSJPVT
GBDUPST
JODMVEJOH
UIF
TFSWJDF
SFOEFSFE
CZ
UIF
EJTUSJCVUPS
"11-*$"/5
%&5"*-4 '0-*0
/0
/BNF
PG
4PMFTU
IPMEFS 1"/
/P

1&,3/
,:$
/BNF
PG
OE
IPMEFS
1"/
/P

1&,3/

,:$
/BNF
PG
SE
IPMEFS 1"/
/P

1&,3/

,:$

*/*5*"-
*/7&45.&/5
%&5"*-4
$IFRVF
%%
/P$BTI
%FQPTJU
4MJQ
/P $IFRVF

%%

$BTI
%FQPTJUJPO
%BUF %%
$IBSHF
C
/FU
"NPVOU
C #BOL
/BNF #SBODI $JUZ

6/*5)0-%*/(
015*0/


%FNBU
.PEF

1IZTJDBM
.PEF
3FG
*OTUSVDUJPO
/P

%FNBU
"DDPVOU
EFUBJMT
BSF
DPNQVMTPSZ
JG
EFNBU
NPEF
JT
PQUFE

/BUJPOBM
%FQPTJUPSZ $FOUSBM
%FQPTJUPSZ
4FDVSJUJFT
1BSUJDJQBOU
/BNF
@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ %FQPTJUPSZ
1BSUJDJQBOU
/BNF

@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@
%FQPTJUPSZ
%1
*%
/P * / 4FDVSJUJFT

#FOFGJDJBSZ
"DDPVOU
/P


5BSHFU
*%
/P


-JNJUFE -JNJUFE
&ODMPTVSFT
1MFBTF
UJDL
BOZ
POF
CPY









$MJFOU
.BTUFS
-JTU
$.- 5SBOTBDUJPO
DVN
)PMEJOH
4UBUFNFOU $BODFMMFE
%FMJWFSZ
*OTUSVDUJPO
4MJQ
%*4
*OWFTU
&BTZ
3FHJTUSBUJPO
GPS
5SBOTBDUJPO
PWFS
4.4
$BMM
.PCJMF
*OUFSOFU
FUD
"QQMJDBCMF
GPS
JOEJWJEVBM
JOWFTUPS
POMZ
&NBJM
*%
.PCJMF
OP








&NBJM
JE

.PCJMF
OP
QSPWJEFE
JO
UIJT
GPSN
XJMM
TVQFSDFEF
UIF
FYJTUJOH
EFUBJMT
JO
PVS
SFDPSET
1MFBTF
SFHJTUFS
ZPVS
.PCJMF
/P

&NBJM
*E
UP
HFU
JOTUBOU
BMFSUT
WJB
4.4

&NBJM
#Z

#Z
QSPWJEJOH
&NBJMJE
*
VOEFSTUBOE
UIBU
*1*/
XJMM
CF
JTTVFE
UP
NF
CZ
EFGBVMU
UISPVHI
0OMJOF
.PEF
VOMFTT
*
IBWF
BMSFBEZ
PQUFE
GPS
*1*/
JO
UIF
QBTU
BOE
IBWF
DSFBUFE
B
VTFSOBNF

4*1
%&5"*-4

3FGFS
*OTUSVDUJPO
/P

*G
UIF
JOWFTUPS
XJTIFT
UP
JOWFTU
JO
%JSFDU
1MBO
QMFBTF
NFOUJPO
%JSFDU
1MBO
BHBJOTU
UIF
TDIFNF
OBNF
1MFBTF
SFGFS
SFTQFDUJWF
4*%,*.
GPS
QSPEVDU
MBCFMJOH
'SFRVFODZ Hd]Yk]Yfqgf]! &OSPMMNFOU
1FSJPE KAH
H<Yl]
] >gjEgfl`dq' O]]cdqqYf\\>gjlfa_`ldqq
4DIFNF

1MBO

0QUJPO 4*1
"NPVOU
Hd]Yk]Yfqgf]! ImYjl]jdq'@Yd^Q]Yjdq! KAH
H<Yl]
O]]cdq






3&(6-"3
imYfl K[`]e]fYe] Egfl`dq >gj
WWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWW EE'QQQQ
'SPN
WWWWWWWWWWWW EE'QQQQ
5P
WWWWWWWWWWW < <
O]]cdqYf\>gjlfa_`ldq
>gjlfa_`ldq
5HJXODU3ODQ 'LUHFW3ODQ ImYjl]jdq






1&31&56"- %FGBVMU
3FGFS
*OTUSVDUJPO
/P

9fq\Yl]^jge C ^ap]\\Yqak
O]\f]k\Yqgj
)kllg*0l`g^Y_an]f JO
GJHVSFT
Ydl]jf]lO]\f]k\Yq
*URZWK,'&:3D\RXW ,'&:5HLQYHVWPHQW @Yd^Q]Yjdq EE'QQQQ
'SPN
WWWWWWWWWWWW EE'QQQQ
5P
WWWWWWWWWWW egfl`!

%&$-"3"5*0/
 *8F
XPVME
MJLF
UP
JOWFTU
JO
RVBOU @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@
TVCKFDU
UP
UFSNT
PG
UIF
4UBUFNFOU
PG
"EEJUJPOBM
*OGPSNBUJPO
4"*
4DIFNF
*OGPSNBUJPO %PDVNFOU
4*%
,FZ
*OGPSNBUJPO
.FNPSBOEVN
,*.
BOE

TVCTFRVFOU
BNFOENFOUT
UIFSFUP
*8F
IBWF
SFBE
VOEFSTUPPE
CFGPSF
GJMMJOH
BQQMJDBUJPO
GPSN
BOE
JTBSF
CPVOE
CZ
UIF
EFUBJMT
PG
UIF
4"*
4*%

,*.
JODMVEJOH
EFUBJMT
SFMBUJOH
UP
WBSJPVT
TFSWJDFT
#Z
GJMMJOH
VQ
UIJT
GPSN
*
VOEFSTUBOE
UIBU
UIF
BNPVOU
UPXBSET

NZ
MVNQTVN

TZTUFNBUJD
JOWFTUNFOU
QMBO
4*1
USBOTBDUJPO
XJMM
CF
EFCJUFE
GSPN
CBOL
BDDPVOU
EFUBJMT
QSPWJEFE
JO
NZ
0OF
5JNF
#BOL
.BOEBUF
'PSN
*8F
IBWF
OPU
SFDFJWFE
OPS
CFFO
JOEVDFE
CZ
BOZ
SFCBUF
PS
HJGUT
EJSFDUMZ
PS
JOEJSFDUMZ
JO
NBLJOH
UIJT

JOWFTUNFOU
*
8F
EFDMBSF
UIBU
UIF
BNPVOU
JOWFTUFE
JO
UIF
4DIFNF
JT
UISPVHI
MFHJUJNBUF
TPVSDFT
POMZ
BOE
JT
OPU
EFTJHOFE
GPS
UIF
QVSQPTF
PG
DPOUSBWFOUJPO
PS
FWBTJPO
PG
BOZ
"DU

3FHVMBUJPOT

3VMFT

/PUJGJDBUJPOT
%JSFDUJPOT
PS
BOZ
PUIFS
"QQMJDBCMF
-BXT

FOBDUFE
CZ
UIF
(PWFSONFOU
PG
*OEJB
PS
BOZ
4UBUVUPSZ
"VUIPSJUZ
*
BDDFQU
BOE
BHSFF
UP
CF
CPVOE
CZ
UIF
TBJE
5FSNT
BOE
$POEJUJPOT
JODMVEJOH
UIPTF
FYDMVEJOH
MJNJUJOH
RVBOU
.VUVBM
'VOE
MJBCJMJUZ
*
VOEFSTUBOE
UIBU R.'
NBZ
BU
JUT
BCTPMVUF
EJTDSFUJPO

EJTDPOUJOVF
BOZ
PG
UIF
TFSWJDFT
DPNQMFUFMZ
PS
QBSUJBMMZ
XJUIPVU
BOZ
QSJPS
OPUJDF
UP
NF
*
BHSFF
RVBOU
DBO
EFCJU
GSPN
NZ
GPMJP
GPS
UIF
TFSWJDF
DIBSHFT
BT
BQQMJDBCMF
GSPN
UJNF
UP
UJNF
5IF
"3/
IPMEFS
IBT
EJTDMPTFE
UP
NFVT
BMM
UIF
DPNNJTTJPOT
JO
UIF
GPSN

PG
USBJM
DPNNJTTJPO
PS
BOZ
PUIFS
NPEF
QBZBCMF
UP
IJN
GPS
UIF
EJGGFSFOU
DPNQFUJOH
4DIFNFT
PG
WBSJPVT
.VUVBM
'VOET
GSPN
BNPOHTU
XIJDI
UIF
4DIFNF
JT
CFJOH
SFDPNNFOEFE
UP
NFVT
*
IFSFCZ
EFDMBSF
UIBU
UIF
BCPWF
JOGPSNBUJPO
JT
HJWFO
CZ
UIF

VOEFSTJHOFE
BOE
QBSUJDVMBST
HJWFO
CZ
NFVT
BSF
DPSSFDU
BOE
DPNQMFUF
'VSUIFS
*
BHSFF
UIBU
UIF
USBOTBDUJPO
DIBSHF
JG
BQQMJDBCMF
TIBMM
CF
EFEVDUFE
GSPN
UIF
TVCTDSJQUJPO
BNPVOU
BOE
UIF
TBJE
DIBSHFT
TIBMM
CF
QBJE
UP
UIF
EJTUSJCVUPST



*
DPOGJSN
UIBU
*
BN
SFTJEFOU
PG
*OEJB



*8F
DPOGJSN
UIBU
*
BN8F
BSF
/PO3FTJEFOU
PG
*OEJBO
/BUJPOBMJUZ0SJHJO
BOE
*8F
IFSFCZ
DPOGJSN
UIBU
UIF
GVOET
GPS
TVCTDSJQUJPO
IBWF
CFFO
SFNJUUFE
GSPN
BCSPBE
UISPVHI
OPSNBM
CBOLJOH
DIBOOFMT
PS
GSPN
GVOET
JO

NZPVS
/PO3FTJEFOU
&YUFSOBM
0SEJOBSZ
"DDPVOU'$/3
"DDPVOU
*8F
VOEFSUBLF
UIBU
BMM
BEEJUJPOBM
QVSDIBTFT
NBEF
VOEFS
UIJT
GPMJP
XJMM
BMTP
CF
GSPN
GVOET
SFDFJWFE
GSPN
BCSPBE
UISPVHI
BQQSPWFE
CBOLJOH
DIBOOFMT
PS
GSPN
GVOET
JO
NZ
PVS
/3&'$/3
"DDPVOU

(X) 'JSTU

4PMF
"QQMJDBOU
(VBSEJBO
QQ

"VUIPSJTFE
4JHOBUPSZ
(X)
4FDPOE
"QQMJDBOU
"VUIPSJTFE
4JHOBUPSZ

5IJSE
"QQMJDBOU
"VUIPSJTFE
4JHOBUPSZ
#Z
TJHOJOH
UIJT
4*1
FOSPMNFOU
GPSN
*8F
VOEFSTUBOE
UIBU
UIF
BNPVOU
XJMM
CF
EFCJUFE
GSPN
UIF
#BOL
BDDPVOU
NFOUJPOFE
JO
0OF
5JNF
#BOL
.BOEBUF

*OWFTU
&BTZ

*OEJWJEVBMT
.BOEBUF
'PSN
*OWFTUPST
BSF
SFRVFTUFE
UP
OPUF

UIBU
UIF
BNPVOU
NFOUJPOFE
JO
0OF
5JNF
#BOL
.BOEBUF
TIPVME
CF
UIF
NBYJNVN
BNPVOU
UIBU
ZPV
XPVME
MJLF
UP
JOWFTU
JO
TDIFNFT
PG
R.'
PO
BOZ
USBOTBDUJPO
EBZ

(X) (X)