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2[VJQP UKPVGTRTGVKXGRQYGTHQTGZRGTKOGPVKPIYKVJEQFGTGCNVKOG$NVGTPCVKXGUJGNNUKPENWFGm'.(CRTGDWPFNGF
*7mm2[VJQPMPQYPHQTGZVGPFKPIVJGKPVGTCEVKXGGZRGTKGPEGGVE

2TQITCOU)QTNQPIVGTOUVQTCIG[QWECPUCXGEQPVGPVVQR[hNGUCPFGFKVGZGEWVGVJGOCUUETKRVUQTRTQITCOU
YKVJGZVGTPCNVQQNUGIUJGNNm'(U UWEJCU2[&JCTO ,WR[VGTPQVGDQQMUGVEmPVGTOGFKCVGWUGTUOC[WUGVJGUG
VQQNUJQYGXGTVJGOGVJQFUFKUEWUUGFJGTGCTGUWjEKGPVHQTIGVVKPIUVCTVGF

2[VJQPVWVQTCNNQYU[QWVQUVGRVJTQWIJ2[VJQPEQFGUQ[QWECPXKUWCNK\GJQYVJGRTQITCOYKNNiQYCPFJGNRU[QW
VQWPFGTUVCPFYJGTG[QWTRTQITCOYGPVYTQPI

2(2FGhPGUIWKFGNKPGUHQTHQTOCVVKPI2[VJQPEQFG)QTOCVVKPIEQFGYGNNKUKORQTVCPVUQ[QWECPSWKEMN[TGCFYJCV
VJGEQFGFQGU

" 1&,+>M?I/"1&+$3/&)"0+!00&$+&+$3)2"0
6QETGCVGCXCTKCDNGKP2[VJQPCNN[QWPGGFVQFQKUURGEKH[VJGXCTKCDNGPCOGCPFVJGPCUUKIPCXCNWGVQKV

XCTKCDNGPCOG XCNWG

2[VJQPWUGUVQCUUKIPXCNWGUVQXCTKCDNGU6JGTG UPQPGGFVQFGENCTGCXCTKCDNGKPCFXCPEG QTVQCUUKIPCFCVC


V[RGVQKV CUUKIPKPICXCNWGVQCXCTKCDNGKVUGNHFGENCTGUCPFKPKVKCNK\GUVJGXCTKCDNGYKVJVJCVXCNWG6JGTG UPQYC[VQ
FGENCTGCXCTKCDNGYKVJQWVCUUKIPKPIKVCPKPKVKCNXCNWG

+PVGIGT
C
RTKPV C
1WVRWV

+PVGIGT
D
RTKPV D
1WVRWV

(NQCVKPIRQKPV
RK
RTKPV RK
1WVRWV

5VTKPI
E #
RTKPV E
1WVRWV#

5VTKPI
PCOG ,QJP&QG
RTKPV PCOG
1WVRWV,QJP&QG

$QQNGCP
S6TWG
RTKPV S
1WVRWV6TWG

'ORV[XCNWGQTPWNNFCVCV[RG
Z0QPG
RTKPV Z
1WVRWV0QPG

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8CTKCDNGCUUKIPOGPVYQTMUHTQONGHVVQTKIJV5QVJGHQNNQYKPIYKNNIKXG[QWCPU[PVCZGTTQT

Z
 1WVRWV5[PVCZ'TTQTECP VCUUKIPVQNKVGTCN

;QWECPPQVWUGR[VJQP UMG[YQTFUCUCXCNKFXCTKCDNGPCOG;QWECPUGGVJGNKUVQHMG[YQTFD[

KORQTVMG[YQTF
RTKPV MG[YQTFMYNKUV

4WNGUHQTXCTKCDNGPCOKPI

 8CTKCDNGUPCOGUOWUVUVCTVYKVJCNGVVGTQTCPWPFGTUEQTG

Z6TWGXCNKF
A[6TWGXCNKF

Z(CNUGUVCTVUYKVJPWOGTCN
 5[PVCZ'TTQTKPXCNKFU[PVCZ

[(CNUGUVCTVUYKVJU[ODQN
 5[PVCZ'TTQTKPXCNKFU[PVCZ

 6JGTGOCKPFGTQH[QWTXCTKCDNGPCOGOC[EQPUKUVQHNGVVGTUPWODGTUCPFWPFGTUEQTGU

JCUAAKPAKV5VKNN8CNKF

 0COGUCTGECUGUGPUKVKXG

Z
[: 
 0COG'TTQTPCOG : KUPQVFGHKPGF

(XGPVJQWIJVJGTG UPQPGGFVQURGEKH[CFCVCV[RGYJGPFGENCTKPICXCTKCDNGKP2[VJQPYJKNGCNNQECVKPIVJG
PGEGUUCT[CTGCKPOGOQT[HQTVJGXCTKCDNGVJG2[VJQPKPVGTRTGVGTCWVQOCVKECNN[RKEMUVJGOQUVUWKVCDNGDWKNVKP
V[RGHQTKV

C
RTKPV V[RG C
1WVRWVV[RG KPV

D
RTKPV V[RG D
1WVRWVV[RG KPV

RK
RTKPV V[RG RK
1WVRWVV[RG HNQCV

E #
RTKPV V[RG E
1WVRWVV[RG UVT

PCOG ,QJP&QG
RTKPV V[RG PCOG
1WVRWVV[RG UVT

S6TWG
RTKPV V[RG S

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1WVRWVV[RG DQQN

Z0QPG
RTKPV V[RG Z
1WVRWVV[RG 0QPG6[RG

0QY[QWMPQYVJGDCUKEUQHCUUKIPOGPVNGV UIGVVJKUUWDVNGV[CDQWVCUUKIPOGPVKPR[VJQPQWVQHVJGYC[

9JGP[QWWUGVQFQCPCUUKIPOGPVQRGTCVKQPYJCV UQPVJGNGHVQHKUCPCOGHQTVJGQDLGEVQPVJGTKIJV)KPCNN[
YJCVFQGUKUCUUKIPVJGTGHGTGPEGQHVJGQDLGEVQPVJGTKIJVVQVJGPCOGQPVJGNGHV

6JCVKU

CAPCOGCPAQDLGEVCAPCOGKUPQYCPCOGHQTVJGTGHGTGPEGVQVJGQDLGEVCPAQDLGEV

5QHTQOOCP[CUUKIPOGPVGZCORNGUCDQXGKHYGRKEMRKVJGPRKKUCPCOG PQVVJGPCOGUKPEGCPQDLGEV
ECPJCXGOWNVKRNGPCOGU HQTVJGQDLGEVmH[QWFQP VWPFGTUVCPFUQOGVJKPIDGNQYEQOGDCEMVQVJKURQKPV
CPFTGCFVJKUCICKP$NUQ[QWECPVCMGCNQQMCVVJKUHQTCDGVVGTWPFGTUVCPFKPI

;QWECPCUUKIPOWNVKRNGXCNWGUVQOWNVKRNGXCTKCDNGUKPQPGNKPG0QVGVJCVVJGTGOWUVDGVJGUCOGPWODGTQH
CTIWOGPVUQPVJGTKIJVCPFNGHVUKFGUQHVJGQRGTCVQT

CDE
RTKPV CDE
1WVRWV

CDE
 6TCEGDCEM OQUVTGEGPVECNNNCUV 
 (KNGPCOGR[NKPG0KPOQFWNG
 CDE
 8CNWG'TTQTPGGFOQTGVJCPXCNWGUVQWPRCEM

CD
 6TCEGDCEM OQUVTGEGPVECNNNCUV 
 (KNGPCOGR[NKPG0KPOQFWNG
 CD
 8CNWG'TTQTVQQOCP[XCNWGUVQWPRCEM

6JGGTTQTKPNCUVGZCORNGECPDGQDXKCVGFD[CUUKIPKPITGOCKPKPIXCNWGUVQGSWCNPWODGTQHCTDKVTCT[XCTKCDNGU
6JKUFWOO[XCTKCDNGECPJCXGCP[PCOGDWVKVKUEQPXGPVKQPCNVQWUGVJGWPFGTUEQTG A HQTCUUKIPKPIWPYCPVGF
XCNWGU

CDA
RTKPV CD
1WVRWV

0QVGVJCVVJGPWODGTQHACPFPWODGTQHTGOCKPKPIXCNWGUOWUVDGGSWCN1VJGTYKUG VQQOCP[XCNWGUVQWPRCEM
GTTQT KUVJTQYPCUCDQXG

CDA
 6TCEGDCEM OQUVTGEGPVECNNNCUV 
 (KNGPCOGR[NKPG0KPOQFWNG
 CDA
 8CNWG'TTQTVQQOCP[XCNWGUVQWPRCEM GZRGEVGF

;QWECPCNUQCUUKIPCUKPINGXCNWGVQUGXGTCNXCTKCDNGUUKOWNVCPGQWUN[

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CDE
RTKPV CDE
1WVRWV

9JGPWUKPIUWEJECUECFKPICUUKIPOGPVKVKUKORQTVCPVVQPQVGVJCVCNNVJTGGXCTKCDNGUCDCPFETGHGTVQVJGUCOG
QDLGEVKPOGOQT[CPKPVQDLGEVYKVJVJGXCNWGQHmPQVJGTYQTFUCDCPFECTGVJTGGFKlGTGPVPCOGUIKXGPVQVJG
UCOGKPVQDLGEV$UUKIPKPICFKlGTGPVQDLGEVVQQPGQHVJGOCHVGTYCTFUFQGUP VEJCPIGVJGQVJGTULWUVCUGZRGEVGF

CDECNNVJTGGPCOGUCDCPFETGHGTVQUCOGKPVQDLGEVYKVJXCNWG
RTKPV CDE
1WVRWV
DDPQYTGHGTUVQCPQVJGTKPVQDLGEVQPGYKVJCXCNWGQH
RTKPV CDE
1WVRWVUQQWVRWVKUCUGZRGEVGF

6JGCDQXGKUCNUQVTWGHQTOWVCDNGV[RGU NKMGNKUVFKEVGVE LWUVCUKVKUVTWGHQTKOOWVCDNGV[RGU NKMGKPVUVTKPI


VWRNGGVE 

Z[=?ZCPF[TGHGTVQVJGUCOGNKUVQDLGEVLWUVETGCVGF=?
Z=?ZPQYTGHGTUVQCFKHHGTGPVNKUVQDLGEVLWUVETGCVGF=?
RTKPV [ [UVKNNTGHGTUVQVJGNKUVKVYCUHKTUVCUUKIPGF
1WVRWV=?

5QHCTUQIQQF6JKPIUCTGCDKVFKlGTGPVYJGPKVEQOGUVQOQFKH[KPIVJGQDLGEV KPEQPVTCUVVQCUUKIPKPIVJGPCOGVQ
CFKlGTGPVQDLGEVYJKEJYGFKFCDQXG YJGPVJGECUECFKPICUUKIPOGPVKUWUGFHQTOWVCDNGV[RGU6CMGCNQQM
DGNQYCPF[QWYKNNUGGKVhTUVJCPF

Z[=?ZCPF[CTGVYQFKHHGTGPVPCOGUHQTVJGUCOGNKUVQDLGEVLWUVETGCVGF=
?
Z=?YGCTGWRFCVKPIVJGXCNWGQHVJGNKUV=?VJTQWIJQPGQHKVUPCOGUZ
KPVJKUECUG
RTKPV [ RTKPVKPIVJGXCNWGQHVJGNKUVWUKPIKVUQVJGTPCOG
1WVRWV=?JGPEGPCVWTCNN[VJGEJCPIGKUTGHNGEVGF

0GUVGFNKUVUCTGCNUQXCNKFKPR[VJQP6JKUOGCPUVJCVCNKUVECPEQPVCKPCPQVJGTNKUVCUCPGNGOGPV

Z==??VJKUKUPGUVGFNKUV
RTKPVZ=?
1WVRWV=?
RTKPVZ=?=?
1WVRWV

.CUVN[XCTKCDNGUKP2[VJQPFQPQVJCXGVQUVC[VJGUCOGV[RGCUYJKEJVJG[YGTGhTUVFGhPGF[QWECPUKORN[WUG
VQCUUKIPCPGYXCNWGVQCXCTKCDNGGXGPKHVJCVXCNWGKUQHCFKlGTGPVV[RG

C
RTKPV C
1WVRWV

C0GYXCNWG
RTKPV C
1WVRWV0GYXCNWG

mHVJKUDQVJGTU[QWVJKPMCDQWVVJGHCEVVJCVYJCV UQPVJGNGHVQHKULWUVCPCOGHQTCPQDLGEV)KTUV[QWECNNVJGKPV
QDLGEVYKVJXCNWGCVJGP[QWEJCPIG[QWTOKPFCPFFGEKFGVQIKXGVJGPCOGCVQCUVTKPIQDLGEVJCXKPIXCNWG
0GYXCNWG 5KORNGTKIJV"

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" 1&,+>M@I), ( +!"+11&,+
2[VJQPWUGUKPFGPVCVKQPVQFGhPGEQPVTQNCPFNQQREQPUVTWEVU6JKUEQPVTKDWVGUVQ2[VJQP UTGCFCDKNKV[JQYGXGTKV
TGSWKTGUVJGRTQITCOOGTVQRC[ENQUGCVVGPVKQPVQVJGWUGQHYJKVGURCEG6JWUGFKVQTOKUECNKDTCVKQPEQWNFTGUWNVKP
EQFGVJCVDGJCXGUKPWPGZRGEVGFYC[U

2[VJQPWUGUVJGEQNQPU[ODQN  CPFKPFGPVCVKQPHQTUJQYKPIYJGTGDNQEMUQHEQFGDGIKPCPFGPF mH[QWEQOG


HTQOCPQVJGTNCPIWCIGFQPQVEQPHWUGVJKUYKVJUQOGJQYDGKPITGNCVGFVQVJGVGTPCT[QRGTCVQT 6JCVKUDNQEMUKP
2[VJQPUWEJCUHWPEVKQPUNQQRUKHENCWUGUCPFQVJGTEQPUVTWEVUJCXGPQGPFKPIKFGPVKhGTU$NNDNQEMUUVCTVYKVJC
EQNQPCPFVJGPEQPVCKPVJGKPFGPVGFNKPGUDGNQYKV

)QTGZCORNG

FGHO[AHWPEVKQP 6JKUKUCHWPEVKQPFGHKPKVKQP0QVGVJGEQNQP 
C6JKUNKPGDGNQPIUVQVJGHWPEVKQPDGECWUGKV UKPFGPVGF
TGVWTPC6JKUNKPGCNUQDGNQPIUVQVJGUCOGHWPEVKQP
RTKPV O[AHWPEVKQP 6JKUNKPGKU1765+&'VJGHWPEVKQPDNQEM

QT

KHC D+HDNQEMUVCTVUJGTG
RTKPV C 6JKUKURCTVQHVJGKHDNQEM
GNUGGNUGOWUVDGCVVJGUCOGNGXGNCUKH
RTKPV D 6JKUNKPGKURCTVQHVJGGNUGDNQEM

%NQEMUVJCVEQPVCKPGZCEVN[QPGUKPINGNKPGUVCVGOGPVOC[DGRWVQPVJGUCOGNKPGVJQWIJVJKUHQTOKUIGPGTCNN[PQV
EQPUKFGTGFIQQFUV[NG

KHC DRTKPV C
GNUGRTKPV D 

$VVGORVKPIVQFQVJKUYKVJOQTGVJCPCUKPINGUVCVGOGPVYKNNPQVYQTM

KHZ [[Z
RTKPV [ +PFGPVCVKQP'TTQTWPGZRGEVGFKPFGPV

KHZ [YJKNG[b\[5[PVCZ'TTQTKPXCNKFU[PVCZ

$PGORV[DNQEMECWUGUCP+PFGPVCVKQP'TTQT7UGRCUU CEQOOCPFVJCVFQGUPQVJKPI YJGP[QWJCXGCDNQEMYKVJ


PQEQPVGPV

FGHYKNNADGAKORNGOGPVGFANCVGT 
RCUU

5RCEGUXU6CDU

mPUJQTVCNYC[UWUGURCEGUHQTKPFGPVCVKQP

7UKPIVCDUGZENWUKXGN[KURQUUKDNGDWV2(2VJGUV[NGIWKFGHQT2[VJQPEQFGUVCVGUVJCVURCEGUCTGRTGHGTTGF

2[VJQPZ9HUVLRQc

2[VJQPFKUCNNQYUOKZKPIVJGWUGQHVCDUCPFURCEGUHQTKPFGPVCVKQPmPUWEJECUGCEQORKNGVKOGGTTQTKU
IGPGTCVGF+PEQPUKUVGPVWUGQHVCDUCPFURCEGUKPKPFGPVCVKQPCPFVJGRTQITCOYKNNPQVTWP

2[VJQPZ9HUVLRQb

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2[VJQPCNNQYUOKZKPIVCDUCPFURCEGUKPKPFGPVCVKQPVJKUKUUVTQPIN[FKUEQWTCIGF6JGVCDEJCTCEVGTEQORNGVGU
VJGRTGXKQWUKPFGPVCVKQPVQDGCOWNVKRNGQHURCEGU5KPEGKVKUEQOOQPVJCVGFKVQTUCTGEQPhIWTGFVQUJQYVCDU
CUOWNVKRNGQHURCEGUVJKUECPECWUGUWDVNGDWIU

&KVKPI2(2

9JGPKPXQMKPIVJG2[VJQPEQOOCPFNKPGKPVGTRTGVGTYKVJVJGVQRVKQPKVKUUWGUYCTPKPIUCDQWVEQFG
VJCVKNNGICNN[OKZGUVCDUCPFURCEGU9JGPWUKPIVVVJGUGYCTPKPIUDGEQOGGTTQTU6JGUGQRVKQPUCTG
JKIJN[TGEQOOGPFGF

/CP[GFKVQTUJCXGVCDUVQURCEGUEQPhIWTCVKQP9JGPEQPhIWTKPIVJGGFKVQTQPGUJQWNFFKlGTGPVKCVGDGVYGGP
VJGVCDEJCTCEVGT >V CPFVJG6CDMG[

6JGVCDEJCTCEVGTUJQWNFDGEQPhIWTGFVQUJQYURCEGUVQOCVEJVJGNCPIWCIGUGOCPVKEUCVNGCUVKPECUGU
YJGP CEEKFGPVCN OKZGFKPFGPVCVKQPKURQUUKDNG(FKVQTUECPCNUQCWVQOCVKECNN[EQPXGTVVJGVCDEJCTCEVGTVQ
URCEGU
+QYGXGTKVOKIJVDGJGNRHWNVQEQPhIWTGVJGGFKVQTUQVJCVRTGUUKPIVJG6CDMG[YKNNKPUGTVURCEGU
KPUVGCFQHKPUGTVKPICVCDEJCTCEVGT

2[VJQPUQWTEGEQFGYTKVVGPYKVJCOKZQHVCDUCPFURCEGUQTYKVJPQPUVCPFCTFPWODGTQHKPFGPVCVKQPURCEGUECP
DGOCFGRGREQPHQTOCPVWUKPICWVQRGR $NGUURQYGTHWNCNVGTPCVKXGEQOGUYKVJOQUV2[VJQPKPUVCNNCVKQPU
TGKPFGPVR[

" 1&,+>MAI116-"0
%WKNVKP6[RGU
%QQNGCPU

DQQN$DQQNGCPXCNWGQHGKVJGT6TWGQT(CNUG.QIKECNQRGTCVKQPUNKMGCPFQTPQVECPDGRGTHQTOGFQPDQQNGCPU

ZQT[KHZKU(CNUGVJGP[QVJGTYKUGZ
ZCPF[KHZKU(CNUGVJGPZQVJGTYKUG[
PQVZKHZKU6TWGVJGP(CNUGQVJGTYKUG6TWG

mP2[VJQPZCPFKP2[VJQPZCDQQNGCPKUCNUQCPKPV6JGDQQNV[RGKUCUWDENCUUQHVJGKPVV[RGCPF6TWGCPF
(CNUGCTGKVUQPN[KPUVCPEGU

KUUWDENCUU DQQNKPV 6TWG

KUKPUVCPEG 6TWGDQQN 6TWG


KUKPUVCPEG (CNUGDQQN 6TWG

mHDQQNGCPXCNWGUCTGWUGFKPCTKVJOGVKEQRGTCVKQPUVJGKTKPVGIGTXCNWGU CPFHQT6TWGCPF(CNUG YKNNDGWUGFVQ


TGVWTPCPKPVGIGTTGUWNV

6TWG (CNUG 


6TWG 6TWG 

0WODGTU

KPVmPVGIGTPWODGT

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C
D
E
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mPVGIGTUKP2[VJQPCTGQHCTDKVTCT[UK\GU

0QVGKPQNFGTXGTUKQPUQH2[VJQPCNQPIV[RGYCUCXCKNCDNGCPFVJKUYCUFKUVKPEVHTQOKPV6JGVYQJCXG
DGGPWPKhGF

HNQCV)NQCVKPIRQKPVPWODGTRTGEKUKQPFGRGPFUQPVJGKORNGOGPVCVKQPCPFU[UVGOCTEJKVGEVWTGHQT
&2[VJQPVJGHNQCVFCVCV[RGEQTTGURQPFUVQC&FQWDNG

C
DG
EG

EQORNGZ&QORNGZPWODGTU

C L
D L

6JG CPF QRGTCVQTUYKNNTCKUGC6[RG'TTQTGZEGRVKQPYJGPCP[QRGTCPFKUCEQORNGZPWODGT

5VTKPIU
2[VJQPZ9HUVLRQc

UVTCWPKEQFGUVTKPI6JGV[RGQH JGNNQ
D[VGUCD[VGUVTKPI6JGV[RGQHD JGNNQ

2[VJQPZ9HUVLRQb

UVTCD[VGUVTKPI6JGV[RGQH JGNNQ
D[VGUU[PQP[OHQTUVT
WPKEQFGCWPKEQFGUVTKPI6JGV[RGQHW JGNNQ

5GSWGPEGUCPFEQNNGEVKQPU

2[VJQPFKlGTGPVKCVGUDGVYGGPQTFGTGFUGSWGPEGUCPFWPQTFGTGFEQNNGEVKQPU UWEJCUUGVCPFFKEV 

UVTKPIU UVTD[VGUWPKEQFG CTGUGSWGPEGU

TGXGTUGF$TGXGTUGFQTFGTQHUVTYKVJTGXGTUGFHWPEVKQP

CTGXGTUGF JGNNQ

VWRNG$PQTFGTGFEQNNGEVKQPQHPXCNWGUQHCP[V[RG P  

C 
D C  R[VJQP  
D=? UQOGVJKPIGNUG TGVWTPUC6[RG'TTQT

5WRRQTVUKPFGZKPIKOOWVCDNGJCUJCDNGKHCNNKVUOGODGTUCTGJCUJCDNG

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C=?
D= C  R[VJQP   =??
D=? UQOGVJKPIGNUG CNNQYGF

0QVJCUJCDNGOWVCDNG

UGV$PWPQTFGTGFEQNNGEVKQPQHWPKSWGXCNWGUmVGOUOWUVDGJCUJCDNG

C] C _

FKEV$PWPQTFGTGFEQNNGEVKQPQHWPKSWGMG[XCNWGRCKTUMG[UOWUVDGJCUJCDNG

C] QPG 
 VYQ _

D] C =?
 D  CUVTKPI _

$PQDLGEVKUJCUJCDNGKHKVJCUCJCUJXCNWGYJKEJPGXGTEJCPIGUFWTKPIKVUNKHGVKOG KVPGGFUCAAJCUJAA
OGVJQF CPFECPDGEQORCTGFVQQVJGTQDLGEVU KVPGGFUCPAAGSAA OGVJQF +CUJCDNGQDLGEVUYJKEJ
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%WKNVKPEQPUVCPVU

mPEQPLWPEVKQPYKVJVJGDWKNVKPFCVCV[RGUVJGTGCTGCUOCNNPWODGTQHDWKNVKPEQPUVCPVUKPVJGDWKNVKPPCOGURCEG

6TWG6JGVTWGXCNWGQHVJGDWKNVKPV[RGDQQN
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0QPG$UKPINGVQPQDLGEVWUGFVQUKIPCNVJCVCXCNWGKUCDUGPV
'NNKRUKUQTWUGFKPEQTG2[VJQPCP[YJGTGCPFNKOKVGFWUCIGKP2[VJQPCURCTVQHCTTC[PQVCVKQP
PWOR[CPFTGNCVGFRCEMCIGUWUGVJKUCUC KPENWFGGXGT[VJKPI TGHGTGPEGKPCTTC[U
0QV+ORNGOGPVGFCUKPINGVQPWUGFVQKPFKECVGVQ2[VJQPVJCVCURGEKCNOGVJQFFQGUP VUWRRQTVVJGURGEKhE
CTIWOGPVUCPF2[VJQPYKNNVT[CNVGTPCVKXGUKHCXCKNCDNG

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2[VJQPZ9HUVLRQc

0QPGFQGUP VJCXGCP[PCVWTCNQTFGTKPI7UKPIQTFGTKPIEQORCTKUQPQRGTCVQTU   KUP VUWRRQTVGFCP[OQTG


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0QPGKUCNYC[UNGUUVJCPCP[PWODGT 0QPGGXCNWCVGUVQ6TWG 

6GUVKPIVJGV[RGQHXCTKCDNGU

mPR[VJQPYGECPEJGEMVJGFCVCV[RGQHCPQDLGEVWUKPIVJGDWKNVKPHWPEVKQPV[RG

C 
RTKPV V[RG C

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1WVENCUU UVT
D
RTKPV V[RG D
1WVENCUU KPV

mPEQPFKVKQPCNUVCVGOGPVUKVKURQUUKDNGVQVGUVVJGFCVCV[RGYKVJKUKPUVCPEG+QYGXGTKVKUWUWCNN[PQVGPEQWTCIGF
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K
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6QVGUVKHUQOGVJKPIKUQH0QPG6[RG

Z0QPG
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 7UGT9CTPKPI 
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 9CTPKPI 
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 AAFGDWIAA 
 AAFQEAA 

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 AAKORQTVAA 
 AAPCOGAA 
 AARCEMCIGAA 
 CDU 
 CNN 
 CP[ 
 CRRN[ 
 DCUGUVTKPI 
 DKP 
 DQQN 
 DWHHGT 
 D[VGCTTC[ 
 D[VGU 
 ECNNCDNG 
 EJT 
 ENCUUOGVJQF 
 EOR 
 EQGTEG 
 EQORKNG 
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 EQR[TKIJV 
 ETGFKVU 
 FGNCVVT 
 FKEV 
 FKT 
 FKXOQF 
 GPWOGTCVG 
 GXCN 
 GZGEHKNG 
 GZKV 
 HKNG 
 HKNVGT 
 HNQCV 
 HQTOCV 
 HTQ\GPUGV 
 IGVCVVT 
 INQDCNU 
 JCUCVVT 
 JCUJ 
 JGNR 
 JGZ 
 KF 
 KPRWV 
 KPV 
 KPVGTP 
 KUKPUVCPEG 
 KUUWDENCUU 
 KVGT 
 NGP 
 NKEGPUG 
 NKUV 
 NQECNU 
 NQPI 
 OCR 
 OCZ 
 OGOQT[XKGY 
 OKP 
 PGZV 
 QDLGEV 
 QEV 
 QRGP 
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 RQY 
 RTKPV 
 RTQRGTV[ 
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 TCPIG 
 TCYAKPRWV 
 TGFWEG 
 TGNQCF 
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 UVT 
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RTKPV CAUVT=? QWVRWVYKNNDGHKTUVEJCTCEVGT*
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" 1&,+?M?I"116-"0
5GVUCTGWPQTFGTGFEQNNGEVKQPUQHWPKSWGQDLGEVUVJGTGCTGVYQV[RGUQHUGV

 5GVU6JG[CTGOWVCDNGCPFPGYGNGOGPVUECPDGCFFGFQPEGUGVUCTGFGhPGF

DCUMGV] CRRNG  QTCPIG  CRRNG  RGCT  QTCPIG  DCPCPC _


RTKPV DCUMGV FWRNKECVGUYKNNDGTGOQXGF
] QTCPIG  DCPCPC  RGCT  CRRNG _
CUGV CDTCECFCDTC
RTKPV C WPKSWGNGVVGTUKPC
] C  T  D  E  F _
CCFF \
RTKPV C
] C  E  T  D  \  F _

 )TQ\GP5GVU6JG[CTGKOOWVCDNGCPFPGYGNGOGPVUECPPQVCFFGFCHVGTKVUFGhPGF

DHTQ\GPUGV CUFHCIUC
RTKPV D
HTQ\GPUGV ] H  I  F  C  U _
EKVKGUHTQ\GPUGV =(TCPMHWTV$CUGN(TGKDWTI?
RTKPV EKVKGU
HTQ\GPUGV ] (TCPMHWTV  $CUGN  (TGKDWTI _

" 1&,+?M@I2*"/0!116-"
0WODGTUJCXGHQWTV[RGUKP2[VJQPmPViQCVEQORNGZCPFNQPI

KPVAPWOKPVXCNWG
HNQCVAPWOHNQCVXCNWG
EQORNGZAPWOLEQORNGZXCNWG
NQPIAPWO.NQPIXCNWG

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" 1&,+?MAI&0116-"
$NKUVEQPVCKPUKVGOUUGRCTCVGFD[EQOOCUCPFGPENQUGFYKVJKPUSWCTGDTCEMGVU=?NKUVUCTGCNOQUVUKOKNCTVQCTTC[U
KP&1PGFKlGTGPEGKUVJCVCNNVJGKVGOUDGNQPIKPIVQCNKUVECPDGQHFKlGTGPVFCVCV[RG

NKUV= CDEF  F ?ECPDGCPCTTC[QHCP[FCVCV[RGQTUKPINGFCVCV[RG


NKUV= JGNNQ  YQTNF ?
RTKPV NKUV YKNNQWVRWVYJQNGNKUV= CDEF  F ?
RTKPV NKUV=? YKNNQWVRWVHKTUVVYQGNGOGPVQHNKUV= CDEF ?
RTKPV NKUV  YKNNICXGNKUVVYQVKOGU= JGNNQ  YQTNF  JGNNQ  YQTNF ?
RTKPV NKUV NKUV YKNNICXGEQPECVGPCVKQPQHDQVJVJGNKUVU
= CDEF  F  JGNNQ  YQTNF ?

" 1&,+?MBI& 1&,+/616-"


'KEVKQPCT[EQPUKUVUQHMG[XCNWGRCKTUmVKUGPENQUGFD[EWTN[DTCEGU]_CPFXCNWGUECPDGCUUKIPGFCPFCEEGUUGF
WUKPIUSWCTGDTCEMGVU=?

FKE] PCOG  TGF  CIG _


RTKPV FKE YKNNQWVRWVCNNVJGMG[XCNWGRCKTU] PCOG  TGF  CIG _
RTKPV FKE= PCOG ? YKNNQWVRWVQPN[XCNWGYKVJ PCOG MG[ TGF
RTKPV FKEXCNWGU YKNNQWVRWVNKUVQHXCNWGUKPFKE= TGF ?
RTKPV FKEMG[U YKNNQWVRWVNKUVQHMG[U= PCOG  CIG ?

" 1&,+?MCI2-)"16-"
.KUVUCTGGPENQUGFKPDTCEMGVU=?CPFVJGKTGNGOGPVUCPFUK\GECPDGEJCPIGFYJKNGVWRNGUCTGGPENQUGFKP
RCTGPVJGUGU  CPFECPPQVDGWRFCVGF6WRNGUCTGKOOWVCDNG

VWRNG  JGNNQ


VWRNG YQTNF
RTKPV VWRNG YKNNQWVRWVYJQNGVWRNG  JGNNQ
RTKPV VWRNG=? YKNNQWVRWVHKTUVXCNWG 
RTKPV VWRNG VWRNG YKNNQWVRWV  JGNNQ  YQTNF
VWRNG=? WRFCVG VJKUYKNNIKXG[QWGTTQT

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%-1"/@I +!"+11&,+
" 1&,+@M>I&*-)""5*-)"
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KPVJGhTUVUGEVKQPQHVJG'GUKIPCPF+KUVQT[2[VJQP)$3&QNQPUCTGWUGFVQFGENCTGCPKPFGPVGFEQFGDNQEM
UWEJCUVJGHQNNQYKPIGZCORNG

ENCUU'ZCORNG%NCUU
'XGT[HWPEVKQPDGNQPIKPIVQCENCUUOWUVDGKPFGPVGFGSWCNN[
FGHAAKPKVAA UGNH 
PCOGGZCORNG

FGHUQOG(WPEVKQP UGNHC 
0QVKEGGXGT[VJKPIDGNQPIKPIVQCHWPEVKQPOWUVDGKPFGPVGF
KHC 
TGVWTP6TWG
GNUG
TGVWTP(CNUG

+HCHWPEVKQPKUPQVKPFGPVGFVQVJGUCOGNGXGNKVYKNNPQVDGEQPUKFGTUCURCTVQHVJGRCTGPVENCUU
FGHUGRCTCVG(WPEVKQP D 
HQTKKPD
.QQRUCTGCNUQKPFGPVGFCPFPGUVGFEQPFKVKQPUUVCTVCPGYKPFGPVCVKQP
KHK
TGVWTP6TWG
TGVWTP(CNUG

UGRCTCVG(WPEVKQP =?

5RCEGUQT6CDU"

6JGTGEQOOGPFGFKPFGPVCVKQPKUURCEGUDWVVCDUQTURCEGUECPDGWUGFUQNQPICUVJG[CTGEQPUKUVGPV'QPQV
OKZVCDUCPFURCEGUKP2[VJQPCUVJKUYKNNECWUGCPGTTQTKP2[VJQPCPFECPECWUGUGTTQTUKP2[VJQP

" 1&,+@M?I ,4 +!"+11&,+&0/0"!


9JKVGURCEGKUJCPFNGFD[VJGNGZKECNCPCN[\GTDGHQTGDGKPIRCTUGF

6JGNGZKECNCPCN[\GTWUGUCUVCEMVQUVQTGKPFGPVCVKQPNGXGNU$VVJGDGIKPPKPIVJGUVCEMEQPVCKPULWUVVJGXCNWG
YJKEJKUVJGNGHVOQUVRQUKVKQP9JGPGXGTCPGUVGFDNQEMDGIKPUVJGPGYKPFGPVCVKQPNGXGNKURWUJGFQPVJGUVCEM
CPFCPm0'(06VQMGPKUKPUGTVGFKPVQVJGVQMGPUVTGCOYJKEJKURCUUGFVQVJGRCTUGT6JGTGECPPGXGTDGOQTG
VJCPQPGm0'(06VQMGPKPCTQY +PFGPVCVKQP'TTQT 

9JGPCNKPGKUGPEQWPVGTGFYKVJCUOCNNGTKPFGPVCVKQPNGXGNXCNWGUCTGRQRRGFHTQOVJGUVCEMWPVKNCXCNWGKUQPVQR
YJKEJKUGSWCNVQVJGPGYKPFGPVCVKQPNGXGN KHPQPGKUHQWPFCU[PVCZGTTQTQEEWTU )QTGCEJXCNWGRQRRGFC
'('(06VQMGPKUIGPGTCVGF1DXKQWUN[VJGTGECPDGOWNVKRNG'('(06VQMGPUKPCTQY

6JGNGZKECNCPCN[\GTUMKRUGORV[NKPGU VJQUGEQPVCKPKPIQPN[YJKVGURCEGCPFRQUUKDN[EQOOGPVU CPFYKNNPGXGT


IGPGTCVGGKVJGTm0'(06QT'('(06VQMGPUHQTVJGO

$VVJGGPFQHVJGUQWTEGEQFG'('(06VQMGPUCTGIGPGTCVGFHQTGCEJKPFGPVCVKQPNGXGNNGHVQPVJGUVCEMWPVKNLWUV
VJGKUNGHV

)QTGZCORNG

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KHHQQ
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GNUG
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KUCPCN[\GFCU

KH HQQ  =?


+0&'06 KH DCT  =?
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&'&'06 &'&'06 GNUG  =?
+0&'06 RTKPV HQQ =?
&'&'06

6JGRCTUGTVJCPJCPFNGUVJGm0'(06CPF'('(06VQMGPUCUDNQEMFGNKOKVGTU

" 1&,+@M@I +!"+11&,+//,/0


6JGURCEKPIUJQWNFDGGXGPCPFWPKHQTOVJTQWIJQWVmORTQRGTKPFGPVCVKQPECPECWUGCP+PFGPVCVKQP'TTQTQT
ECWUGVJGRTQITCOVQFQUQOGVJKPIWPGZRGEVGF6JGHQNNQYKPIGZCORNGTCKUGUCP+PFGPVCVKQP'TTQT

C
KHC 
RTKPVHQQ
GNUG
RTKPVDCT
RTKPVFQPG

1TKHVJGNKPGHQNNQYKPICEQNQPKUPQVKPFGPVGFCP+PFGPVCVKQP'TTQTYKNNCNUQDGTCKUGF

KH6TWG
RTKPVVTWG

mH[QWCFFKPFGPVCVKQPYJGTGKVFQGUP VDGNQPICP+PFGPVCVKQP'TTQTYKNNDGTCKUGF

KH6TWG
C
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mH[QWHQTIGVVQWPKPFGPVHWPEVKQPCNKV[EQWNFDGNQUVmPVJKUGZCORNG0QPGKUTGVWTPGFKPUVGCFQHVJGGZRGEVGF(CNUG

FGHKU'XGP C 
KHC
TGVWTP6TWG
VJKUPGZVNKPGUJQWNFDGGXGPYKVJVJGKH
TGVWTP(CNUG
RTKPVKU'XGP 

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%-1"/AI,**"+10+!, 2*"+11&,+
" 1&,+AM>I&+$)")&+"J&+)&+"+!*2)1&)&+" ,**"+10
&QOOGPVUCTGWUGFVQGZRNCKPEQFGYJGPVJGDCUKEEQFGKVUGNHKUP VENGCT

2[VJQPKIPQTGUEQOOGPVUCPFUQYKNNPQVGZGEWVGEQFGKPVJGTGQTTCKUGU[PVCZGTTQTUHQTRNCKP(PINKUJUGPVGPEGU

5KPINGNKPGEQOOGPVUDGIKPYKVJVJGJCUJEJCTCEVGT  CPFCTGVGTOKPCVGFD[VJGGPFQHNKPG

5KPINGNKPGEQOOGPV

6JKUKUCUKPINGNKPGEQOOGPVKP2[VJQP

mPNKPGEQOOGPV

RTKPV *GNNQ9QTNF 6JKUNKPGRTKPVU*GNNQ9QTNF

&QOOGPVUURCPPKPIOWNVKRNGNKPGUJCXGQT QPGKVJGTGPF6JKUKUVJGUCOGCUCOWNVKNKPGUVTKPIDWV
VJG[ECPDGWUGFCUEQOOGPVU


6JKUV[RGQHEQOOGPVURCPUOWNVKRNGNKPGU
6JGUGCTGOQUVN[WUGFHQTFQEWOGPVCVKQPQHHWPEVKQPUENCUUGUCPFOQFWNGU


" 1&,+AM?I/,$/**1& ))6 "00&+$!, 01/&+$0


'QEUVTKPIUCTGWPNKMGTGIWNCTEQOOGPVUUVQTGFCUCPCVVTKDWVGQHVJGHWPEVKQPVJG[FQEWOGPVOGCPKPIVJCV[QW
ECPCEEGUUVJGORTQITCOOCVKECNN[

$PGZCORNGHWPEVKQP
FGHHWPE 
6JKUKUCHWPEVKQPVJCVFQGUPQVJKPICVCNN
TGVWTP

6JGFQEUVTKPIECPDGCEEGUUGFWUKPIVJGAAFQEAACVVTKDWVG

RTKPV HWPEAAFQEAA

6JKUKUCHWPEVKQPVJCVFQGUPQVJKPICVCNN

JGNR HWPE

+GNRQPHWPEVKQPHWPEKPOQFWNGAAOCKPAA

HWPE

6JKUKUCHWPEVKQPVJCVFQGUPQVJKPICVCNN

$PQVJGTGZCORNGHWPEVKQP

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HWPEVKQPAAFQEAAKULWUVVJGCEVWCNFQEUVTKPICUCUVTKPIYJKNGVJGJGNRHWPEVKQPRTQXKFGUIGPGTCNKPHQTOCVKQP
CDQWVCHWPEVKQPKPENWFKPIVJGFQEUVTKPI+GTG UCOQTGJGNRHWNGZCORNG

FGHITGGV PCOGITGGVKPI*GNNQ 
2TKPVCITGGVKPIVQVJGWUGTBPCOGB

1RVKQPCNRCTCOGVGTBITGGVKPIBECPEJCPIGYJCVVJG[ TGITGGVGFYKVJ

RTKPV ]_]_HQTOCV ITGGVKPIPCOG

JGNR ITGGV

+GNRQPHWPEVKQPITGGVKPOQFWNGAAOCKPAA

ITGGV PCOGITGGVKPI *GNNQ

2TKPVCITGGVKPIVQVJGWUGTPCOG
1RVKQPCNRCTCOGVGTITGGVKPIECPEJCPIGYJCVVJG[ TGITGGVGFYKVJ

$FXCPVCIGUQHFQEUVTKPIUQXGTTGIWNCTEQOOGPVU

,WUVRWVVKPIPQFQEUVTKPIQTCTGIWNCTEQOOGPVKPCHWPEVKQPOCMGUKVCNQVNGUUJGNRHWN

FGHITGGV PCOGITGGVKPI*GNNQ 
2TKPVCITGGVKPIVQVJGWUGTBPCOGB
1RVKQPCNRCTCOGVGTBITGGVKPIBECPEJCPIGYJCVVJG[ TGITGGVGFYKVJ

RTKPV ]_]_HQTOCV ITGGVKPIPCOG

RTKPV ITGGVAAFQEAA

0QPG

JGNR ITGGV

+GNRQPHWPEVKQPITGGVKPOQFWNGOCKP

ITGGV PCOGITGGVKPI *GNNQ

" 1&,+AM@I/&1"!, 2*"+11&,+20&+$!, 01/&+$0


$FQEUVTKPIKUCOWNVKNKPGEQOOGPVWUGFVQFQEWOGPVOQFWNGUENCUUGUHWPEVKQPUCPFOGVJQFUmVJCUVQDGVJG
hTUVUVCVGOGPVQHVJGEQORQPGPVKVFGUETKDGU

FGHJGNNQ PCOG 
)TGGVUQOGQPG

2TKPVCITGGVKPI *GNNQ HQTVJGRGTUQPYKVJVJGIKXGPPCOG




RTKPV *GNNQ PCOG

ENCUU)TGGVGT
#PQDLGEVWUGFVQITGGVRGQRNG

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+VEQPVCKPUOWNVKRNGITGGVKPIHWPEVKQPUHQTUGXGTCNNCPIWCIGU
CPFVKOGUQHVJGFC[


6JGXCNWGQHVJGFQEUVTKPIECPDGCEEGUUGFYKVJKPVJGRTQITCOCPFKUHQTGZCORNGWUGFD[VJGJGNREQOOCPF

5[PVCZEQPXGPVKQPU
2(2

2(2FGhPGUCU[PVCZUVCPFCTFHQTFQEUVTKPIEQOOGPVUmVDCUKECNN[CNNQYUVYQV[RGU

1PGNKPG'QEUVTKPIU

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FGHJGNNQ 
5C[JGNNQVQ[QWTHTKGPFU
RTKPV *GNNQO[HTKGPFUb

6JGFQEUVTKPIUJCNNGPFYKVJCRGTKQFVJGXGTDUJQWNFDGKPVJGKORGTCVKXGHQTO

/WNVKNKPG'QEUVTKPIU

/WNVKNKPGFQEUVTKPIUJQWNFDGWUGFHQTNQPIGTOQTGEQORNGZHWPEVKQPUOQFWNGUQTENCUUGU

FGHJGNNQ PCOGNCPIWCIGGP 
5C[JGNNQVQCRGTUQP

#TIWOGPVU
PCOGVJGPCOGQHVJGRGTUQP
NCPIWCIGVJGNCPIWCIGKPYJKEJVJGRGTUQPUJQWNFDGITGGVGF


RTKPV ITGGVKPI=NCPIWCIG?  PCOG

6JG[UVCTVYKVJCUJQTVUWOOCT[ GSWKXCNGPVVQVJGEQPVGPVQHCQPGNKPGFQEUVTKPI YJKEJECPDGQPVJGUCOGNKPG


CUVJGSWQVCVKQPOCTMUQTQPVJGPGZVNKPGIKXGCFFKVKQPCNFGVCKNCPFNKUVRCTCOGVGTUCPFTGVWTPXCNWGU

0QVG2(2FGhPGUYJCVKPHQTOCVKQPUJQWNFDGIKXGPYKVJKPCFQEUVTKPIKVFQGUP VFGhPGKPYJKEJHQTOCVKV
UJQWNFDGIKXGP6JKUYCUVJGTGCUQPHQTQVJGTRCTVKGUCPFFQEWOGPVCVKQPRCTUKPIVQQNUVQURGEKH[VJGKTQYP
UVCPFCTFUHQTFQEWOGPVCVKQPUQOGQHYJKEJCTGNKUVGFDGNQYCPFKPVJKUSWGUVKQP

5RJKPZ

5RJKPZKUCVQQNVQIGPGTCVG+6/.DCUGFFQEWOGPVCVKQPHQT2[VJQPRTQLGEVUDCUGFQPFQEUVTKPIUmVUOCTMWR
NCPIWCIGWUGFKUTG5VTWEVWTGF6GZV6JG[FGhPGVJGKTQYPUVCPFCTFUHQTFQEWOGPVCVKQPR[VJQPJQUVGFQTIJQUVUC
XGT[IQQFFGUETKRVKQPQHVJGO6JG5RJKPZHQTOCVKUHQTGZCORNGWUGFD[VJGR[&JCTOm'(

$HWPEVKQPYQWNFDGFQEWOGPVGFNKMGVJKUWUKPIVJG5RJKPZTG5VTWEVWTGF6GZVHQTOCV

FGHJGNNQ PCOGNCPIWCIGGP 
5C[JGNNQVQCRGTUQP

RCTCOPCOGVJGPCOGQHVJGRGTUQP
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TGVWTPCPWODGT
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RTKPV ITGGVKPI=NCPIWCIG?  PCOG


TGVWTP

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6JGR[VJQPJQUVGFQTIRCIGOGPVKQPGFCDQXGCNUQRTQXKFGUUQOGGZCORNGUHQTIQQFFQEWOGPVCVKQPCEEQTFKPIVQ
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FGHJGNNQ PCOGNCPIWCIGGP 
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#TIU
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4GVWTPU
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RTKPV ITGGVKPI=NCPIWCIG?  PCOG


TGVWTP

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RTKPV FVV\PCOG
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HTQOFCVGVKOGKORQTVFCVGVKOG
HTQOFCVGWVKNKORQTVV\
NQECNV\IGVV\ .QECNVKOG
26V\IGVV\ 752CEKHKE 2CEKHKEVKOG

FVANFCVGVKOG V\KPHQNQECN +COKP'56


FVARUVFCVGVKOG V\KPHQ26
FVARFVFCVGVKOG V\KPHQ26 &56KUJCPFNGFCWVQOCVKECNN[
RTKPV FVAN

RTKPV FVARUV

RTKPV FVARFV


&$76e10$UQHXGTUKQPFCVGWVKNFQGUPQVJCPFNGCODKIWQWUFCVGVKOGUEQTTGEVN[CPFYKNNCNYC[UFGHCWNVVQ
VJGNCVGTFCVG6JGTGKUPQYC[VQEQPUVTWEVCPQDLGEVYKVJCFCVGWVKNVKOG\QPGTGRTGUGPVKPIHQTGZCORNG
'&6UKPEGVJKUKUFWTKPICFC[NKIJVUCXKPIUVKOGVTCPUKVKQP

$NNGFIGECUGUCTGJCPFNGFRTQRGTN[YJGPWUKPIR[V\DWVR[V\VKOG\QPGUUJQWNFPQVDGFKTGEVN[CVVCEJGFVQVKOG
\QPGUVJTQWIJVJGEQPUVTWEVQTmPUVGCFCR[V\VKOG\QPGUJQWNFDGCVVCEJGFWUKPIVJGVKOG\QPG UNQECNK\G
OGVJQF

HTQOFCVGVKOGKORQTVFCVGVKOGVKOGFGNVC
KORQTVR[V\

26R[V\VKOG\QPG 752CEKHKE
FVARUV26NQECNK\G FCVGVKOG 
FVARFV26NQECNK\G FCVGVKOG 
RTKPV FVARUV

RTKPV FVARFV


%GCYCTGVJCVKH[QWRGTHQTOFCVGVKOGCTKVJOGVKEQPCR[V\CYCTGVKOG\QPG[QWOWUVGKVJGTRGTHQTOVJG
ECNEWNCVKQPUKP76& KH[QWYCPVCDUQNWVGGNCRUGFVKOG QT[QWOWUVECNNPQTOCNK\G QPVJGTGUWNV

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 A@


FVAPGYFVARFV VKOGFGNVC JQWTU 6JKUUJQWNFDG#/256
RTKPV FVAPGY

FVAEQTTGEVGF26PQTOCNK\G FVAPGY
RTKPV FVAEQTTGEVGF


" 1&,+BM@I,*-21&+$1&*"!&8"/"+ "0


VJGVKOGFGNVCOQFWNGEQOGUKPJCPF[VQEQORWVGFKlGTGPEGUDGVYGGPVKOGU

HTQOFCVGVKOGKORQTVFCVGVKOGVKOGFGNVC
PQYFCVGVKOGPQY
VJGPFCVGVKOG  FCVGVKOGFCVGVKOG 

5RGEKH[KPIVKOGKUQRVKQPCNYJGPETGCVKPICPGYFCVGVKOGQDLGEV

FGNVCPQYVJGP

FGNVCKUQHV[RGVKOGFGNVC

RTKPV FGNVCFC[U

RTKPV FGNVCUGEQPFU


6QIGVPFC[ UCHVGTCPFPFC[ UDGHQTGFCVGYGEQWNFWUG

PFC[ UCHVGTFCVG

FGHIGVAPAFC[UACHVGTAFCVG FCVGAHQTOCVF$;CFFAFC[U 

FCVGAPAFC[UACHVGTFCVGVKOGFCVGVKOGPQY  VKOGFGNVC FC[UCFFAFC[U


TGVWTPFCVGAPAFC[UACHVGTUVTHVKOG FCVGAHQTOCV

PFC[ UDGHQTGFCVG

FGHIGVAPAFC[UADGHQTGAFCVG UGNHFCVGAHQTOCVF$;FC[UADGHQTG 

FCVGAPAFC[UACIQFCVGVKOGFCVGVKOGPQY VKOGFGNVC FC[UFC[UADGHQTG


TGVWTPFCVGAPAFC[UACIQUVTHVKOG FCVGAHQTOCV

" 1&,+BMAI0& !1"1&*",'" 1020$"


6JGFCVGVKOGOQFWNGEQPVCKPUVJTGGRTKOCT[V[RGUQHQDLGEVUFCVGVKOGCPFFCVGVKOG

KORQTVFCVGVKOG

&CVGQDLGEV
VQFC[FCVGVKOGFCVGVQFC[
PGYA[GCTFCVGVKOGFCVG  FCVGVKOGFCVG 

6KOGQDLGEV
PQQPFCVGVKOGVKOG  FCVGVKOGVKOG 

%WTTGPVFCVGVKOG
PQYFCVGVKOGFCVGVKOGPQY

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 AA


&CVGVKOGQDLGEV
OKNNGPKWOAVWTPFCVGVKOGFCVGVKOG  FCVGVKOGFCVGVKOG 

$TKVJOGVKEQRGTCVKQPUHQTVJGUGQDLGEVUCTGQPN[UWRRQTVGFYKVJKPUCOGFCVCV[RGCPFRGTHQTOKPIUKORNGCTKVJOGVKE
YKVJKPUVCPEGUQHFKlGTGPVV[RGUYKNNTGUWNVKPC6[RG(TTQT

UWDVTCEVKQPQHPQQPHTQOVQFC[
PQQPVQFC[
6TCEGDCEM OQUVTGEGPVECNNNCUV 
(KNGUVFKP NKPGKPOQFWNG
6[RG'TTQTWPUWRRQTVGFQRGTCPFV[RG U HQT FCVGVKOGVKOG CPF FCVGVKOGFCVG
*QYGXGTKVKUUVTCKIJVHQTYCTFVQEQPXGTVDGVYGGPV[RGU

&QVJKUKPUVGCF
RTKPV 6KOGUKPEGVJGOKNNGPKWOCVOKFPKIJV 
FCVGVKOGFCVGVKOG VQFC[[GCTVQFC[OQPVJVQFC[FC[ OKNNGPKWOAVWTP

1TVJKU
RTKPV 6KOGUKPEGVJGOKNNGPKWOCVPQQP 
FCVGVKOGFCVGVKOGEQODKPG VQFC[PQQP OKNNGPKWOAVWTP

" 1&,+BMBI4&1 %&+$"14""+1&*"7,+"0


6QUYKVEJDGVYGGPVKOG\QPGU[QWPGGFFCVGVKOGQDLGEVUVJCVCTGVKOG\QPGCYCTG

HTQOFCVGVKOGKORQTVFCVGVKOG
HTQOFCVGWVKNKORQTVV\

WVEV\V\WVE
NQECNV\V\NQECN

WVEAPQYFCVGVKOGWVEPQY
WVEAPQY0QVVKOG\QPGCYCTG

WVEAPQYWVEAPQYTGRNCEG V\KPHQWVE
WVEAPQY6KOG\QPGCYCTG

NQECNAPQYWVEAPQYCUVKOG\QPG NQECN
NQECNAPQY%QPXGTVGFVQNQECNVKOG

" 1&,+BMCI&*-)"!1"/&1%*"1&
'CVGUFQP VGZKUVKPKUQNCVKQPmVKUEQOOQPVJCV[QWYKNNPGGFVQhPFVJGCOQWPVQHVKOGDGVYGGPFCVGUQT
FGVGTOKPGYJCVVJGFCVGYKNNDGVQOQTTQY6JKUECPDGCEEQORNKUJGFWUKPIVKOGFGNVCQDLGEVU

KORQTVFCVGVKOG

VQFC[FCVGVKOGFCVGVQFC[
RTKPV 6QFC[ VQFC[

[GUVGTFC[VQFC[FCVGVKOGVKOGFGNVC FC[U
RTKPV ;GUVGTFC[ [GUVGTFC[

VQOQTTQYVQFC[ FCVGVKOGVKOGFGNVC FC[U


RTKPV 6QOQTTQY VQOQTTQY

RTKPV 6KOGDGVYGGPVQOQTTQYCPF[GUVGTFC[ VQOQTTQY[GUVGTFC[

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 AB


6JKUYKNNRTQFWEGTGUWNVUUKOKNCTVQ

7RGD\
<HVWHUGD\
7RPRUURZ
'LIIHUHQFHEHWZHHQWRPRUURZDQG\HVWHUGD\GD\V

" 1&,+BMDI,+3"/1&+$1&*"01*-1,!1"1&*"
6JGFCVGVKOGOQFWNGECPEQPXGTVC215m:VKOGUVCORVQCm6&FCVGVKOGQDLGEV

6JG(RQEJKU,CPWCT[UVOKFPKIJV

KORQTVVKOG
HTQOFCVGVKOGKORQTVFCVGVKOG
UGEQPFUAUKPEGAGRQEJVKOGVKOG 

WVEAFCVGFCVGVKOGWVEHTQOVKOGUVCOR UGEQPFUAUKPEGAGRQEJ FCVGVKOGFCVGVKOG 




" 1&,+BMEI21/ 1&+$*,+1%0#/,*!1" 2/1")6


7UKPIVJGECNGPFCTOQFWNG

KORQTVECNGPFCT
HTQOFCVGVKOGKORQTVFCVG

FGHOQPVJFGNVC FCVGFGNVC 
O[ FCVGOQPVJ FGNVC FCVG[GCT  FCVGOQPVJ FGNVC 
KHPQVOO
FOKP FCVGFC[ECNGPFCTOQPVJTCPIG [O =?
TGVWTPFCVGTGRNCEG FC[FOQPVJO[GCT[

PGZVAOQPVJOQPVJFGNVC FCVGVQFC[  FCVGVKOGFCVG 

7UKPIVJGFCVGWVKNUOQFWNG

KORQTVFCVGVKOG
KORQTVFCVGWVKNTGNCVKXGFGNVC

FFCVGVKOGFCVGVKOGUVTRVKOG ;OF
FFFCVGWVKNTGNCVKXGFGNVCTGNCVKXGFGNVC OQPVJU FCVGVKOGFCVGVKOG 

" 1&,+BMFI/0&+$+/&1//6 EC=>1&*"01*-4&1%


*&+&*))&//&"0
2[VJQPJCUQPN[NKOKVGFUWRRQTVHQTRCTUKPIm51VKOGUVCORU)QTUVTRVKOG[QWPGGFVQMPQYGZCEVN[YJCV
HQTOCVKVKUKP$UCEQORNKECVKQPVJGUVTKPIKhECVKQPQHCFCVGVKOGKUCPm51VKOGUVCORYKVJURCEGCUC
UGRCTCVQTCPFFKIKVHTCEVKQP

UVT FCVGVKOGFCVGVKOG 


 

DWVKHVJGHTCEVKQPKUPQHTCEVKQPCNRCTVKUQWVRWV

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 AC


UVT FCVGVKOGFCVGVKOG 
 

%WVVJGUGHQTOUPGGFCFKeGTGPVHQTOCVHQTUVTRVKOG)WTVJGTOQTGUVTRVKOG FQGUPQVUWRRQTVCVCNN
RCTUKPIOKPWVGVKOG\QPGUVJCVJCXGCKPKVVJWUECPDGRCTUGFDWVVJG
UVCPFCTFHQTOCVBECPPQV

6JGTGKUCUKPINGhNGNKDTCT[ECNNGFKUQYJKEJRTQRGTN[RCTUGUm51VKOGUVCORUCPFQPN[VJGO

mVUWRRQTVUHTCEVKQPUCPFVKOG\QPGUCPFVJG6UGRCTCVQTCNNYKVJCUKPINGHWPEVKQP

KORQTVKUQ
KUQRCTUGAFCVG 
FCVGVKOGFCVGVKOG V\KPHQKUQ7VE
KUQRCTUGAFCVG  
FCVGVKOGFCVGVKOG V\KPHQ(KZGF1HHUGV  
KUQRCTUGAFCVG <
FCVGVKOGFCVGVKOG V\KPHQKUQ7VE
KUQRCTUGAFCVG 6 
FCVGVKOGFCVGVKOG V\KPHQ(KZGF1HHUGV  

mHPQVKOG\QPGKUUGVKUQRCTUGAFCVGFGHCWNVUVQ76&6JGFGHCWNV\QPGECPDGEJCPIGFYKVJFGHCWNVA\QPG
MG[YQTFCTIWOGPV0QVCDN[KHVJKUKU0QPGKPUVGCFQHVJGFGHCWNVVJGPVJQUGVKOGUVCORUVJCVFQPQVJCXGCP
GZRNKEKVVKOG\QPGCTGTGVWTPGFCUPCKXGFCVGVKOGUKPUVGCF

KUQRCTUGAFCVG 6 FGHCWNVAVKOG\QPG0QPG


FCVGVKOGFCVGVKOG 
KUQRCTUGAFCVG 6< FGHCWNVAVKOG\QPG0QPG
FCVGVKOGFCVGVKOG V\KPHQKUQ7VE

" 1&,+BM>=I "1+ EC=>1&*"01*-


9KVJQWVVKOG\QPGYKVJOKETQUGEQPFU
HTQOFCVGVKOGKORQTVFCVGVKOG

FCVGVKOGPQY KUQHQTOCV
1WV 6

9KVJVKOG\QPGYKVJOKETQUGEQPFU
HTQOFCVGVKOGKORQTVFCVGVKOG
HTQOFCVGWVKNV\KORQTVV\NQECN

FCVGVKOGPQY V\NQECN KUQHQTOCV


1WV 6

9KVJVKOG\QPGYKVJQWVOKETQUGEQPFU
HTQOFCVGVKOGKORQTVFCVGVKOG
HTQOFCVGWVKNV\KORQTVV\NQECN

FCVGVKOGPQY V\NQECN TGRNCEG OKETQUGEQPF KUQHQTOCV


1WV 6

5GGm51HQTOQTGKPHQTOCVKQPCDQWVVJGm51HQTOCV

" 1&,+BM>>I/0&+$01/&+$4&1%0%,/11&*"7,+"+*"&+1,

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 AD


1&*"7,+"4/"!1"1&*",'" 1
7UKPIVJGFCVGWVKNNKDTCT[CUKPVJGRTGXKQWUGZCORNGQPRCTUKPIVKOG\QPGCYCTGVKOGUVCORUKVKUCNUQRQUUKDNGVQ
RCTUGVKOGUVCORUYKVJCURGEKhGFUJQTVVKOG\QPGPCOG

)QTFCVGUHQTOCVVGFYKVJUJQTVVKOG\QPGPCOGUQTCDDTGXKCVKQPUYJKEJCTGIGPGTCNN[CODKIWQWU GI&56YJKEJ
EQWNFDG&GPVTCN5VCPFCTF6KOG&JKPC5VCPFCTF6KOG&WDC5VCPFCTF6KOGGVEOQTGECPDGHQWPFJGTG QTPQV
PGEGUUCTKN[CXCKNCDNGKPCUVCPFCTFFCVCDCUGKVKUPGEGUUCT[VQURGEKH[COCRRKPIDGVYGGPVKOG\QPGCDDTGXKCVKQP
CPFV\KPHQQDLGEV

HTQOFCVGWVKNKORQTVV\
HTQOFCVGWVKNRCTUGTKORQTVRCTUG

'6V\IGVV\ 75'CUVGTP
%6V\IGVV\ 75%GPVTCN
/6V\IGVV\ 75/QWPVCKP
26V\IGVV\ 752CEKHKE

WUAV\KPHQU] %56 %6 %&6 %6


 '56 '6 '&6 '6
 /56 /6 /&6 /6
 256 26 2&6 26_

FVAGUVRCTUG '56 V\KPHQUWUAV\KPHQU


FVARUVRCTUG 256 V\KPHQUWUAV\KPHQU

$HVGTTWPPKPIVJKU

FVAGUV
FCVGVKOGFCVGVKOG V\KPHQV\HKNG WUTUJCTG\QPGKPHQ75'CUVGTP
FVARUV
FCVGVKOGFCVGVKOG V\KPHQV\HKNG WUTUJCTG\QPGKPHQ752CEKHKE

mVKUYQTVJPQVKPIVJCVKHWUKPICR[V\VKOG\QPGYKVJVJKUOGVJQFKVYKNNPQVDGRTQRGTN[NQECNK\GF

HTQOFCVGWVKNRCTUGTKORQTVRCTUG
KORQTVR[V\

'56R[V\VKOG\QPG #OGTKEC0GYA;QTM
FVRCTUG '56 V\KPHQU] '56 '56_

6JKUUKORN[CVVCEJGUVJGR[V\VKOG\QPGVQVJGFCVGVKOG

FVV\KPHQ9KNNDGKP.QECN/GCP6KOGb
&UV6\+PHQ #OGTKEC0GYA;QTM ./6FC[56&

mHWUKPIVJKUOGVJQF[QWUJQWNFRTQDCDN[TGNQECNK\GVJGPCKXGRQTVKQPQHVJGFCVGVKOGCHVGTRCTUKPI

FVAHKZGFFVV\KPHQNQECNK\G FVTGRNCEG V\KPHQ0QPG


FVAHKZGFV\KPHQ0QYKV U'56
&UV6\+PHQ #OGTKEC0GYA;QTM '56FC[56&

" 1&,+BM>?I 2776!1"1&*"-/0&+$X"51/ 1&+$!1"1&*",21


,#1"51Y
mVKURQUUKDNGVQGZVTCEVCFCVGQWVQHCVGZVWUKPIVJGFCVGWVKNRCTUGTKPCHW\\[OQFGYJGTGEQORQPGPVUQHVJG

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 AE


UVTKPIPQVTGEQIPK\GFCUDGKPIRCTVQHCFCVGCTGKIPQTGF

HTQOFCVGWVKNRCTUGTKORQTVRCTUG

FVRCTUG 6QFC[KU,CPWCT[CV#/HW\\[6TWG
RTKPV FV

FVKUPQYCFCVGVKOGQDLGEVCPF[QWYQWNFUGGFCVGVKOGFCVGVKOG  RTKPVGF

" 1&,+BM>@I 1"/1",3"/!1"0


5QOGVKOGU[QWYCPVVQKVGTCVGQXGTCTCPIGQHFCVGUHTQOCUVCTVFCVGVQUQOGGPFFCVG;QWECPFQKVWUKPI
FCVGVKOGNKDTCT[CPFVKOGFGNVCQDLGEV

KORQTVFCVGVKOG

6JGUK\GQHGCEJUVGRKPFC[U
FC[AFGNVCFCVGVKOGVKOGFGNVC FC[U

UVCTVAFCVGFCVGVKOGFCVGVQFC[
GPFAFCVGUVCTVAFCVG  FC[AFGNVC

HQTKKPTCPIG GPFAFCVGUVCTVAFCVG FC[U 


RTKPV UVCTVAFCVG K FC[AFGNVC

9JKEJRTQFWEGU









,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 AF


%-1"/CI1" ,/*11&+$
" 1&,+CM>I&*""14""+14,!1"Z1&*"0
HTQOFCVGVKOGKORQTVFCVGVKOG

CFCVGVKOG 
DFCVGVKOG 

CD
FCVGVKOGVKOGFGNVC 

CD FC[U

CD VQVCNAUGEQPFU


" 1&,+CM?I21-211&+$!1"1&*",'" 11,01/&+$


7UGU&UVCPFCTFHQTOCVEQFGU

HTQOFCVGVKOGKORQTVFCVGVKOG
FCVGVKOGAHQTAUVTKPIFCVGVKOG 
FCVGVKOGAUVTKPIAHQTOCV DF;*/5
FCVGVKOGUVTHVKOG FCVGVKOGAHQTAUVTKPIFCVGVKOGAUVTKPIAHQTOCV
1EV

" 1&,+CM@I/0&+$01/&+$1,!1"1&*",'" 1
7UGU&UVCPFCTFHQTOCVEQFGU

HTQOFCVGVKOGKORQTVFCVGVKOG
FCVGVKOGAUVTKPI 1EV
FCVGVKOGAUVTKPIAHQTOCV DF;*/5
FCVGVKOGUVTRVKOG FCVGVKOGAUVTKPIFCVGVKOGAUVTKPIAHQTOCV
FCVGVKOGFCVGVKOG 

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 B=


%-1"/DI+2*
" 1&,+DM>I/"1&+$+"+2*X61%,+?MA1%/,2$%@M@Y
(PWOUJCXGDGGPDCEMRQTVGFHTQO2[VJQPVQ2[VJQPVJTQWIJ2[VJQP;QWECPIGVVJKUVJGGPWO
DCEMRQTVHTQO2[2m

RKRKPUVCNNGPWO

&TGCVKQPQHCPGPWOKUKFGPVKECNVQJQYKVYQTMUKP2[VJQP

HTQOGPWOKORQTV'PWO

ENCUU%QNQT 'PWO 
TGF
ITGGP
DNWG

RTKPV %QNQTTGF %QNQTTGF


RTKPV %QNQT  %QNQTTGF
RTKPV %QNQT= TGF ? %QNQTTGF

" 1&,+DM?I 1"/1&,+


(PWOUCTGKVGTCDNG

ENCUU%QNQT 'PWO 
TGF
ITGGP
DNWG

=EHQTEKP%QNQT?=%QNQTTGF %QNQTITGGP %QNQTDNWG ?

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 B>


%-1"/EI"1
" 1&,+EM>I-"/1&,+0,+0"10
YKVJQVJGTUGVU

+PVGTUGEVKQP
]_KPVGTUGEVKQP ]_ ]_
]_]_]_

7PKQP
]_WPKQP ]_ ]_
]_^]_]_

&KHHGTGPEG
]_FKHHGTGPEG ]_ ]_
]_]_]_

5[OOGVTKEFKHHGTGPEGYKVJ
]_U[OOGVTKEAFKHHGTGPEG ]_ ]_
]_@]_]_

5WRGTUGVEJGEM
]_KUUWRGTUGV ]_ (CNUG
]_ ]_(CNUG

5WDUGVEJGEM
]_KUUWDUGV ]_ 6TWG
]_]_6TWG

&KULQKPVEJGEM
]_KUFKULQKPV ]_ 6TWG
]_KUFKULQKPV ]_ (CNUG

YKVJUKPINGGNGOGPVU

'ZKUVGPEGEJGEM
KP]_6TWG
KP]_(CNUG
PQVKP]_6TWG

#FFCPF4GOQXG
U]_
UCFF  U]_

UFKUECTF  U]_
UFKUECTF  U]_

UTGOQXG  U]_
UTGOQXG  -G['TTQTb

5GVQRGTCVKQPUTGVWTPPGYUGVUDWVJCXGVJGEQTTGURQPFKPIKPRNCEGXGTUKQPU

OGVJQF KPRNCEGQRGTCVKQP KPRNCEGOGVJQF


WPKQP U^ V WRFCVG
KPVGTUGEVKQP U V KPVGTUGEVKQPAWRFCVG
FKlGTGPEG U V FKlGTGPEGAWRFCVG

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 B?


U[OOGVTKEAFKlGTGPEG U@ V U[OOGVTKEAFKlGTGPEGAWRFCVG

)QTGZCORNG

U]_
UWRFCVG ]_ U]_

" 1&,+EM?I "11%"2+&.2"")"*"+10,#)&01


.GV UUC[[QW XGIQVCNKUVQHTGUVCWTCPVUOC[DG[QWTGCFKVHTQOChNG;QWECTGCDQWVVJGWPKSWGTGUVCWTCPVUKP
VJGNKUV6JGDGUVYC[VQIGVVJGWPKSWGGNGOGPVUHTQOCNKUVKUVQVWTPKVKPVQCUGV

TGUVCWTCPVU=/E&QPCNF U$WTIGT-KPI/E&QPCNF U%JKEMGP%JKEMGP?


WPKSWGATGUVCWTCPVUUGV TGUVCWTCPVU
RTKPV WPKSWGATGUVCWTCPVU
RTKPVU] %JKEMGP%JKEMGP /E&QPCNF U $WTIGT-KPI _

0QVGVJCVVJGUGVKUPQVKPVJGUCOGQTFGTCUVJGQTKIKPCNNKUVVJCVKUDGECWUGUGVUCTGWPQTFGTGFLWUVNKMGFKEVU

6JKUECPGCUKN[DGVTCPUHQTOGFDCEMKPVQC.KUVYKVJ2[VJQP UDWKNVKPNKUVHWPEVKQPIKXKPICPQVJGTNKUVVJCVKUVJG
UCOGNKUVCUVJGQTKIKPCNDWVYKVJQWVFWRNKECVGU

NKUV WPKSWGATGUVCWTCPVU
= %JKEMGP%JKEMGP /E&QPCNF U $WTIGT-KPI ?

mV UCNUQEQOOQPVQUGGVJKUCUQPGNKPG

4GOQXGUCNNFWRNKECVGUCPFTGVWTPUCPQVJGTNKUV
NKUV UGV TGUVCWTCPVU

0QYCP[QRGTCVKQPUVJCVEQWNFDGRGTHQTOGFQPVJGQTKIKPCNNKUVECPDGFQPGCICKP

" 1&,+EM@I"1,#"10
]]_]__

NGCFUVQ

6[RG'TTQTWPJCUJCDNGV[RG UGV

mPUVGCFWUGHTQ\GPUGV

]HTQ\GPUGV ]_ HTQ\GPUGV ]_ _

" 1&,+EMAI"1-"/1&,+020&+$"1%,!0+!2&)1&+0
9GFGhPGVYQUGVUCCPFD

C]_
D]_

016(]_ETGCVGUCUGVQHQPGGNGOGPVDWV]_ETGCVGUCPGORV[FKEV6JGEQTTGEVYC[VQETGCVGCP
GORV[UGVKUUGV 

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 B@


ePVGTUGEVKQP

CKPVGTUGEVKQP D TGVWTPUCPGYUGVYKVJGNGOGPVURTGUGPVKPDQVJCCPFD

CKPVGTUGEVKQP D
]_

7PKQP

CWPKQP D TGVWTPUCPGYUGVYKVJGNGOGPVURTGUGPVKPGKVJGTCCPFD

CWPKQP D
]_

'KdGTGPEG

CFKHHGTGPEG D TGVWTPUCPGYUGVYKVJGNGOGPVURTGUGPVKPCDWVPQVKPD

CFKHHGTGPEG D
]_
DFKHHGTGPEG C
]_

5[OOGVTKE'KdGTGPEG

CU[OOGVTKEAFKHHGTGPEG D TGVWTPUCPGYUGVYKVJGNGOGPVURTGUGPVKPGKVJGTCQTDDWVPQVKPDQVJ

CU[OOGVTKEAFKHHGTGPEG D
]_
DU[OOGVTKEAFKHHGTGPEG C
]_

016(CU[OOGVTKEAFKHHGTGPEG D DU[OOGVTKEAFKHHGTGPEG C

5WDUGVCPFUWRGTUGV

EKUUWDUGV C VGUVUYJGVJGTGCEJGNGOGPVQHEKUKPC

CKUUWRGTUGV E VGUVUYJGVJGTGCEJGNGOGPVQHEKUKPC

E]_
EKUUWDUGV C
6TWG
CKUUWRGTUGV E
6TWG

6JGNCVVGTQRGTCVKQPUJCXGGSWKXCNGPVQRGTCVQTUCUUJQYPDGNQY

/GVJQF 1RGTCVQT
CKPVGTUGEVKQP D CD
CWPKQP D C^D
CFKHHGTGPEG D CD
CU[OOGVTKEAFKHHGTGPEG D C@D
CKUUWDUGV D CD
CKUUWRGTUGV D C D

'KULQKPVUGVU

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 BA


5GVUCCPFFCTGFKULQKPVKHPQGNGOGPVKPCKUCNUQKPFCPFXKEGXGTUC

F]_
CKUFKULQKPV D ]_CTGKPDQVJUGVU
(CNUG
CKUFKULQKPV F
6TWG

6JKUKUCPGSWKXCNGPVEJGEMDWVNGUUGHHKEKGPV
NGP CF 
6TWG

6JKUKUGXGPNGUUGHHKEKGPV
CFUGV
6TWG

6GUVKPIOGODGTUJKR

6JGDWKNVKPKPMG[YQTFUGCTEJGUHQTQEEWTCPEGU

KPC
6TWG
KPC
(CNUG

.GPIVJ

6JGDWKNVKPNGP HWPEVKQPTGVWTPUVJGPWODGTQHGNGOGPVUKPVJGUGV

NGP C

NGP D


" 1&,+EMBI"103"/020*2)1&0"10
5GVUCTGWPQTFGTGFEQNNGEVKQPUQHFKUVKPEVGNGOGPVU%WVUQOGVKOGUYGYCPVVQYQTMYKVJWPQTFGTGFEQNNGEVKQPUQH
GNGOGPVUVJCVCTGPQVPGEGUUCTKN[FKUVKPEVCPFMGGRVTCEMQHVJGGNGOGPVU OWNVKRNKEKVKGU

&QPUKFGTVJKUGZCORNG

UGV#] C  D  D  E _
UGV#
UGV = C  E  D ?

%[UCXKPIVJGUVTKPIU C  D  D  E KPVQCUGVFCVCUVTWEVWTGYG XGNQUVVJGKPHQTOCVKQPQPVJGHCEVVJCV D


QEEWTUVYKEG1HEQWTUGUCXKPIVJGGNGOGPVUVQCNKUVYQWNFTGVCKPVJKUKPHQTOCVKQP

NKUV#= C  D  D  E ?
NKUV#
= C  D  D  E ?

DWVCNKUVFCVCUVTWEVWTGKPVTQFWEGUCPGZVTCWPPGGFGFQTFGTKPIVJCVYKNNUNQYFQYPQWTEQORWVCVKQPU

)QTKORNGOGPVKPIOWNVKUGVU2[VJQPRTQXKFGUVJG%QWPVGTENCUUHTQOVJGEQNNGEVKQPUOQFWNG UVCTVKPIHTQOXGTUKQP
 

2[VJQPZ9HUVLRQc

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HTQOEQNNGEVKQPUKORQTV%QWPVGT
EQWPVGT#%QWPVGT = C  D  D  E ?
EQWPVGT#
%QWPVGT ] D  C  E _

%QWPVGTKUCFKEVKQPCT[YJGTGYJGTGGNGOGPVUCTGUVQTGFCUFKEVKQPCT[MG[UCPFVJGKTEQWPVUCTGUVQTGFCU
FKEVKQPCT[XCNWGU$PFCUCNNFKEVKQPCTKGUKVKUCPWPQTFGTGFEQNNGEVKQP

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 BC


%-1"/FI&*-)"1%"*1& )-"/1,/0
0WOGTKECNV[RGUCPFVJGKTOGVCENCUUGU

6JGPWODGTUOQFWNGEQPVCKPUVJGCDUVTCEVOGVCENCUUGUHQTVJGPWOGTKECNV[RGU

UWDENCUUGU PWODGTU0WODGT PWODGTUePVGITCN PWODGTU4CVKQPCN PWODGTU4GCN PWODGTU&QORNGZ


DQQN ✓ ✓ ✓ ✓ ✓
KPV ✓ ✓ ✓ ✓ ✓
HTCEVKQPU)TCEVKQP ✓ ― ✓ ✓ ✓
iQCV ✓ ― ― ✓ ✓
EQORNGZ ✓ ― ― ― ✓
FGEKOCN'GEKOCN ✓ ― ― ― ―
2[VJQPFQGUEQOOQPOCVJGOCVKECNQRGTCVQTUQPKVUQYPKPENWFKPIKPVGIGTCPFiQCVFKXKUKQPOWNVKRNKECVKQP
GZRQPGPVKCVKQPCFFKVKQPCPFUWDVTCEVKQP6JGOCVJOQFWNG KPENWFGFKPCNNUVCPFCTF2[VJQPXGTUKQPU QlGTU
GZRCPFGFHWPEVKQPCNKV[NKMGVTKIQPQOGVTKEHWPEVKQPUTQQVQRGTCVKQPUNQICTKVJOUCPFOCP[OQTG

" 1&,+FM>I&3&0&,+
2[VJQPFQGUKPVGIGTFKXKUKQPYJGPDQVJQRGTCPFUCTGKPVGIGTU6JGDGJCXKQTQH2[VJQP UFKXKUKQPQRGTCVQTUJCXG
EJCPIGFHTQO2[VJQPZCPFZ UGGCNUQmPVGIGT'KXKUKQP 

CDEFG

2[VJQPZ9HUVLRQb

mP2[VJQPVJGTGUWNVQHVJG  QRGTCVQTFGRGPFUQPVJGV[RGQHVJGPWOGTCVQTCPFFGPQOKPCVQT

CD

CE

FD

DC

FG

0QVGVJCVDGECWUGDQVJCCPFDCTGKPVUVJGTGUWNVKUCPKPV

6JGTGUWNVKUCNYC[UTQWPFGFFQYP iQQTGF 

%GECWUGEKUCiQCVVJGTGUWNVQHCEKUCHNQCV

;QWECPCNUQWUGVJGQRGTCVQTOQFWNG

KORQTVQRGTCVQTVJGQRGTCVQTOQFWNGRTQXKFGUCTIWOGPVCTKVJOGVKEHWPEVKQPU
QRGTCVQTFKX CD 
QRGTCVQTAAFKXAA CD 

2[VJQPZ9HUVLRQc

9JCVKH[QWYCPViQCVFKXKUKQP

4GEQOOGPFGF

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HTQOAAHWVWTGAAKORQTVFKXKUKQPCRRNKGU2[VJQPUV[NGFKXKUKQPVQVJGGPVKTGOQFWNG
CD
CD

1MC[ KH[QWFQP VYCPVVQCRRN[VQVJGYJQNGOQFWNG 

C D  


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CD  ECTGHWNYKVJQTFGTQHQRGTCVKQPU

HTQOQRGTCVQTKORQTVVTWGFKX
VTWGFKX CD 

0QVTGEQOOGPFGF OC[TCKUG6[RG(TTQTGIKHCTIWOGPVKUEQORNGZ 

HNQCV C D
CHNQCV D 

2[VJQPZ9HUVLRQc

6JG  QRGTCVQTKP2[VJQPHQTEGUiQQTGFFKXKUKQPTGICTFNGUUQHV[RG

CD
CE

2[VJQPZ9HUVLRQc

mP2[VJQPVJGQRGTCVQTRGTHQTOU VTWG FKXKUKQPTGICTFNGUUQHV[RGU6JGQRGTCVQTRGTHQTOUiQQTFKXKUKQPCPF


OCKPVCKPUV[RG

CD
GD
CD
CE

KORQTVQRGTCVQTVJGQRGTCVQTOQFWNGRTQXKFGUCTIWOGPVCTKVJOGVKEHWPEVKQPU
QRGTCVQTVTWGFKX CD 
QRGTCVQTHNQQTFKX CD 
QRGTCVQTHNQQTFKX CE 

2QUUKDNGEQODKPCVKQPU DWKNVKPV[RGU 

KPVCPFKPV IKXGUCPKPVKP2[VJQPCPFCHNQCVKP2[VJQP
KPVCPFHNQCV IKXGUCHNQCV
KPVCPFEQORNGZ IKXGUCEQORNGZ
HNQCVCPFHNQCV IKXGUCHNQCV
HNQCVCPFEQORNGZ IKXGUCEQORNGZ
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5GG2(2HQTOQTGKPHQTOCVKQP

" 1&,+FM?I!!&1&,+
CD

7UKPIVJG QRGTCVQT
C D

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7UKPIVJGKPRNCEG QRGTCVQTVQCFFCPFCUUKIP
C DC GSWKXCNGPVVQCC D

KORQTVQRGTCVQTEQPVCKPUCTIWOGPVCTKVJOGVKEHWPEVKQPUHQTVJGGZCORNGU

QRGTCVQTCFF CD UKPEGCKUUGVVQTKIJVDGHQTGVJKUNKPG

6JG QRGTCVQTKUGSWKXCNGPVVQ
CQRGTCVQTKCFF CD CUKPEGCKUUGVVQTKIJVDGHQTGVJKUNKPG

2QUUKDNGEQODKPCVKQPU DWKNVKPV[RGU 

KPVCPFKPV IKXGUCPKPV
KPVCPFHNQCV IKXGUCHNQCV
KPVCPFEQORNGZ IKXGUCEQORNGZ
HNQCVCPFHNQCV IKXGUCHNQCV
HNQCVCPFEQORNGZ IKXGUCEQORNGZ
EQORNGZCPFEQORNGZ IKXGUCEQORNGZ

0QVGVJG QRGTCVQTKUCNUQWUGFHQTEQPECVGPCVKPIUVTKPIUNKUVUCPFVWRNGU

HKTUVUVTKPI UGEQPFUVTKPI HKTUVUVTKPIUGEQPFUVTKPI

=? =?=?

" 1&,+FM@I5-,+"+1&1&,+
CD

C D 
RQY CD 

KORQTVOCVJ
OCVJRQY CD  CNYC[UHNQCVFQGUPQVCNNQYEQORNGZTGUWNVU

KORQTVQRGTCVQT
QRGTCVQTRQY CD 

$PQVJGTFKlGTGPEGDGVYGGPVJGDWKNVKPRQYCPFOCVJRQYKUVJCVVJGDWKNVKPRQYECPCEEGRVVJTGGCTIWOGPVU

CDE

RQY  ECNEWNCVGU   DWVCURGT2[VJQPFQEU


FQGUUQOQTGGHHKEKGPVN[

5RGEKCNHWPEVKQPU

6JGHWPEVKQPOCVJUSTV Z ECNEWNCVGUVJGUSWCTGTQQVQHZ

KORQTVOCVJ
KORQTVEOCVJ
E
OCVJUSTV E  CNYC[UHNQCVFQGUPQVCNNQYEQORNGZTGUWNVU
EOCVJUSTV E   L  CNYC[UEQORNGZ

6QEQORWVGQVJGTTQQVUUWEJCUCEWDGTQQVTCKUGVJGPWODGTVQVJGTGEKRTQECNQHVJGFGITGGQHVJGTQQV6JKU
EQWNFDGFQPGYKVJCP[QHVJGGZRQPGPVKCNHWPEVKQPUQTQRGTCVQT

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KORQTVOCVJ
Z
OCVJRQY Z GXCNWCVGUVQ
Z  GXCNWCVGUVQ

6JGHWPEVKQPOCVJGZR Z EQORWVGUG Z

OCVJGZR  
OCVJGZR   G

6JGHWPEVKQPOCVJGZRO Z EQORWVGUG Z9JGPZKUUOCNNVJKUIKXGUUKIPKhECPVN[DGVVGTRTGEKUKQPVJCP


OCVJGZR Z 

OCVJGZRO  

OCVJGZR G G


OCVJGZRO G G
GZCEVTGUWNV

" 1&,+FMAI/&$,+,*"1/&  2+ 1&,+0


CD

KORQTVOCVJ

OCVJUKP C TGVWTPUVJGUKPGQH C KPTCFKCPU


1WV

OCVJEQUJ D TGVWTPUVJGKPXGTUGJ[RGTDQNKEEQUKPGQH D KPTCFKCPU


1WV

OCVJCVCP OCVJRK TGVWTPUVJGCTEVCPIGPVQH RK KPTCFKCPU


1WV

OCVJJ[RQV CD TGVWTPUVJG'WENKFGCPPQTOUCOGCUOCVJUSTV C C D D


1WV

0QVGVJCVOCVJJ[RQV Z[ KUCNUQVJGNGPIVJQHVJGXGEVQT QT(WENKFGCPFKUVCPEG HTQOVJGQTKIKP 


VQVJGRQKPV Z[ 

6QEQORWVGVJG(WENKFGCPFKUVCPEGDGVYGGPVYQRQKPVU Z[   Z[ [QWECPWUGOCVJJ[RQVCU


HQNNQYU

OCVJJ[RQV ZZ[[

6QEQPXGTVHTQOTCFKCPU!FGITGGUCPFFGITGGU!TCFKCPUTGURGEVKXGN[WUGOCVJFGITGGUCPFOCVJTCFKCPU

OCVJFGITGGU C
1WV

OCVJTCFKCPU 
1WV

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" 1&,+FMBI +-) "-"/1&,+0
mVKUEQOOQPYKVJKPCRRNKECVKQPUVQPGGFVQJCXGEQFGNKMGVJKU

CC 

QT

CC 

6JGTGKUCPGlGEVKXGUJQTVEWVHQTVJGUGKPRNCEGQRGTCVKQPU

C 
CPF
C 

$P[OCVJGOCVKEQRGTCVQTECPDGWUGFDGHQTGVJG EJCTCEVGTVQOCMGCPKPRNCEGQRGTCVKQP

FGETGOGPVVJGXCTKCDNGKPRNCEG
KPETGOGPVVJGXCTKCDNGKPRNCEG
OWNVKRN[VJGXCTKCDNGKPRNCEG
FKXKFGVJGXCTKCDNGKPRNCEG
iQQTFKXKFGVJGXCTKCDNGKPRNCEG2[VJQP
TGVWTPVJGOQFWNWUQHVJGXCTKCDNGKPRNCEG
TCKUGVQCRQYGTKPRNCEG

1VJGTKPRNCEGQRGTCVQTUGZKUVHQTVJGDKVYKUGQRGTCVQTU @^GVE

" 1&,+FMCI21/ 1&,+


CD

7UKPIVJGQRGTCVQT
DC

KORQTVQRGTCVQTEQPVCKPUCTIWOGPVCTKVJOGVKEHWPEVKQPU
QRGTCVQTUWD DC 

2QUUKDNGEQODKPCVKQPU DWKNVKPV[RGU 

KPVCPFKPV IKXGUCPKPV
KPVCPFHNQCV IKXGUCHNQCV
KPVCPFEQORNGZ IKXGUCEQORNGZ
HNQCVCPFHNQCV IKXGUCHNQCV
HNQCVCPFEQORNGZ IKXGUCEQORNGZ
EQORNGZCPFEQORNGZ IKXGUCEQORNGZ

" 1&,+FMDI2)1&-)& 1&,+


CD

C D

KORQTVQRGTCVQT

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QRGTCVQTOWN CD 

2QUUKDNGEQODKPCVKQPU DWKNVKPV[RGU 

KPVCPFKPV IKXGUCPKPV
KPVCPFHNQCV IKXGUCHNQCV
KPVCPFEQORNGZ IKXGUCEQORNGZ
HNQCVCPFHNQCV IKXGUCHNQCV
HNQCVCPFEQORNGZ IKXGUCEQORNGZ
EQORNGZCPFEQORNGZ IKXGUCEQORNGZ

0QVG6JG QRGTCVQTKUCNUQWUGFHQTTGRGCVGFEQPECVGPCVKQPQHUVTKPIUNKUVUCPFVWRNGU

  CD  CDCDCD
  C  D  C  D  C  D  C  D

" 1&,+FMEI,$/&1%*0
%[FGHCWNVVJGOCVJNQIHWPEVKQPECNEWNCVGUVJGNQICTKVJOQHCPWODGTDCUGG;QWECPQRVKQPCNN[URGEKH[CDCUGCU
VJGUGEQPFCTIWOGPV

KORQTVOCVJ
KORQTVEOCVJ

OCVJNQI  
QRVKQPCNDCUGCTIWOGPV&GHCWNVKUOCVJG
OCVJNQI OCVJG 
EOCVJNQI    L
OCVJNQI   CNYC[UTGVWTPUHNQCV
EOCVJNQI    L

5RGEKCNXCTKCVKQPUQHVJGOCVJNQIHWPEVKQPGZKUVHQTFKlGTGPVDCUGU

.QICTKVJODCUGG JKIJGTRTGEKUKQPHQTNQYXCNWGU
OCVJNQIR  

.QICTKVJODCUG
OCVJNQI  

.QICTKVJODCUG
OCVJNQI  
EOCVJNQI    L

" 1&,+FMFI,!2)20
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1TD[WUKPIVJGQRGTCVQTOQFWNG

KORQTVQRGTCVQT

QRGTCVQTOQF  

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QRGTCVQTOQF  
QRGTCVQTOQF  

;QWECPCNUQWUGPGICVKXGPWODGTU





mH[QWPGGFVQhPFVJGTGUWNVQHKPVGIGTFKXKUKQPCPFOQFWNWU[QWECPWUGVJGFKXOQFHWPEVKQPCUCUJQTVEWV

SWQVKGPVTGOCKPFGTFKXOQF 
SWQVKGPVTGOCKPFGTCU  

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1 %,!6b
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UWRRQTVGFD[VJGRTQEGUUQT6JGUGHGYQRGTCVKQPUCTGPGEGUUCT[KPYQTMKPIYKVJFGXKEGFTKXGTUNQYNGXGNITCRJKEU
ET[RVQITCRJ[CPFPGVYQTMEQOOWPKECVKQPU6JKUUGEVKQPRTQXKFGUWUGHWNMPQYNGFIGCPFGZCORNGUQH2[VJQP U
DKVYKUGQRGTCVQTU

" 1&,+>=M>I&14&0"
6JG`QRGTCVQTYKNNiKRCNNQHVJGDKVUKPVJGPWODGT5KPEGEQORWVGTUWUGUKIPGFPWODGTTGRTGUGPVCVKQPU—OQUV
PQVCDN[VJGVYQ UEQORNGOGPVPQVCVKQPVQGPEQFGPGICVKXGDKPCT[PWODGTUYJGTGPGICVKXGPWODGTUCTGYTKVVGP
YKVJCNGCFKPIQPG  KPUVGCFQHCNGCFKPI\GTQ  

6JKUOGCPUVJCVKH[QWYGTGWUKPIDKVUVQTGRTGUGPV[QWTVYQ UEQORNGOGPVPWODGTU[QWYQWNFVTGCVRCVVGTPU
HTQOVQVQTGRTGUGPVPWODGTUHTQOVQCPFTGUGTXGZZZZZZZVQTGRTGUGPVPGICVKXG
PWODGTU

(KIJVDKVVYQ UEQORNGOGPVPWODGTU

%KVU 7PUKIPGF8CNWG 6YQ UEQORNGOGPV8CNWG


  
  
  
  
  
  
  
  
  
  

mPGUUGPEGVJKUOGCPUVJCVYJGTGCUJCUCPWPUKIPGFXCNWGQH CTTKXGFCVD[CFFKPI   


                          KVJCUCVYQ UEQORNGOGPVXCNWG
QH CTTKXGFCVD[CFFKPI                     
  CPFEQORNGOGPVKPIVJGXCNWG 

mPVJKUYC[PGICVKXGPWODGTUTCPIGFQYPVQ  <GTQ  KUTGRTGUGPVGFCUCPFOKPWU


QPG  CU

mPIGPGTCNVJQWIJVJKUOGCPU`PP

D
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$PFVJGPYJGPCRRNKGFVQPGICVKXGPWODGTUVJGEQTTGURQPFKPIGlGEVKU

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6JGHQNNQYKPIGZCORNGUKNNWUVTCVGVJKUNCUVTWNG

D
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" 1&,+>=M?I&14&0"X5 )20&3"Y


6JG@QRGTCVQTYKNNRGTHQTOCDKPCT[:14KPYJKEJCDKPCT[KUEQRKGFKHCPFQPN[KHKVKUVJGXCNWGQHGZCEVN[QPG
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@
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DKP @

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1WVD

" 1&,+>=M@I&14&0"
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D
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1WV
D

DKP 
1WVD

" 1&,+>=MAI&14&0"
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^
^
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D
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DKP ^
1WVD

" 1&,+>=MBI&14&0""#1%&#1
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IKXGPD[VJGTKIJVQRGTCPF

D

1WV
D

DKP 
1WVD

2GTHQTOKPICNGHVDKVUJKHVQHKUGSWKXCNGPVVQOWNVKRNKECVKQPD[


1WV

2GTHQTOKPICNGHVDKVUJKHVQHPKUGSWKXCNGPVVQOWNVKRNKECVKQPD[ P

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1WV

" 1&,+>=MCI&14&0"&$%1%&#1
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D
 
1WV
D

DKP  
1WVD

2GTHQTOKPICTKIJVDKVUJKHVQHKUGSWKXCNGPVVQKPVGIGTFKXKUKQPD[

 
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1WV

2GTHQTOKPICTKIJVDKVUJKHVQHPKUGSWKXCNGPVVQKPVGIGTFKXKUKQPD[ P

 
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" 1&,+>=MDI +-) "-"/1&,+0


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FGHQTA CD 
KHC
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FGHCPFA CD 
KHPQVC
TGVWTPC
GNUG
TGVWTPD

" 1&,+>>M?I0&*-)""5*-)"
mP2[VJQP[QWECPEQORCTGCUKPINGGNGOGPVWUKPIVYQDKPCT[QRGTCVQTUQPGQPGKVJGTUKFG

KHZ
RTKPV ZKUPGCTRK

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FGHVTWGAHWPE 
RTKPV VTWGAHWPE 
TGVWTP6TWG

FGHHCNUGAHWPE 
RTKPV HCNUGAHWPE 
TGVWTP(CNUG

VTWGAHWPE QTHCNUGAHWPE
VTWGAHWPE
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HCNUGAHWPE QTVTWGAHWPE
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HCNUGAHWPE
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Z *K

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RTKPV Z RTKPVU*K

'GENCTKPICPCOGINQDCNOGCPUVJCVHQTVJGTGUVQHVJGUEQRGCP[CUUKIPOGPVUVQVJGPCOGYKNNJCRRGPCVVJG
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Z *K

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1VJGTOQFWNGUYKNNUVKNNPGGFVJGWUWCNFQVVGFCEEGUUVQXCTKCDNGUYKVJKPVJGOQFWNG

6QUWOOCTK\GKPQTFGTVQMPQYYJGVJGTCXCTKCDNGZKUNQECNVQCHWPEVKQP[QWUJQWNFTGCFVJGGPVKTGHWPEVKQP

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FGHHQQ 
C
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RTKPV C 0COG'TTQTPCOG C KUPQVFGHKPGF

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Z
RTKPV Z QWV
FGNZ
RTKPV Z 0COG'TTQTPCOG H KUPQVFGHKPGF

0QVGVJCVFGNKUCDKPFKPIQEEWTTGPEGYJKEJOGCPUVJCVWPNGUUGZRNKEKVN[UVCVGFQVJGTYKUG WUKPIPQPNQECN
QTINQDCN FGNXYKNNOCMGXNQECNVQVJGEWTTGPVUEQRGmH[QWKPVGPFVQFGNGVGXKPCPQWVGTUEQRGWUG
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mPCNNVJGHQNNQYKPIVJGKPVGPVKQPQHCEQOOCPFKUCFGHCWNVDGJCXKQTDWVKUPQVGPHQTEGFD[VJGNCPIWCIG$ENCUU
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FGNXPCOG

6JKUEQOOCPFVTKIIGTUCECNNVQXAAFGNCVVTAA PCOG 

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ENCUU#
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RTKPV CZ QWV
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RTKPV CZ GTTQT#VVTKDWVG'TTQT # QDLGEVJCUPQCVVTKDWVG Z
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Z=?
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5GGCNUQ*CTDCIG&QNNGEVKQP6JGFGNEQOOCPF

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PCOGU%GECWUGNCODFCUCTGHWPEVKQPUCPFEQORTGJGPUKQPUCTGKORNGOGPVGFWUKPIHWPEVKQPUEQRGVJKUECPNGCF
VQUQOGUWTRTKUKPIDGJCXKQT

C INQDCN

ENCUU(TGF
C ENCUU ENCUUUEQRG
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TGVWTPC

RTKPV (TGFC ENCUU


RTKPV PGZV (TGFD INQDCN
RTKPV (TGFE=? ENCUUKP2[VJQPINQDCNKP2[VJQP
RTKPV (TGFF ENCUU
RTKPV (TGFG INQDCN
RTKPV (TGFH ENCUU
RTKPV (TGFI INQDCN

7UGTUWPHCOKNKCTYKVJJQYVJKUUEQRGYQTMUOKIJVGZRGEVDECPFGVQRTKPVENCUU

)TQO2(2

0COGUKPENCUUUEQRGCTGPQVCEEGUUKDNG0COGUCTGTGUQNXGFKPVJGKPPGTOQUVGPENQUKPIHWPEVKQPUEQRG
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6JGUEQRGQHPCOGUFGhPGFKPCENCUUDNQEMKUNKOKVGFVQVJGENCUUDNQEMKVFQGUPQVGZVGPFVQVJGEQFG
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ENCUU#
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DNKUV C KHQTKKPTCPIG 

6JKUGZCORNGWUGUTGHGTGPEGUHTQOVJKUCPUYGTD[/CTVKLP2KGVGTUYJKEJEQPVCKPUOQTGKPFGRVJCPCN[UKUQHVJKU
DGJCXKQT

" 1&,+>@MCI, )30 ),) ,-"


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6JGGZRNCPCVKQPKUVJCVNQECNUEQRGKPENWFGUCNNXCTKCDNGUFGhPGFKPVJGEWTTGPVHWPEVKQPCPFINQDCNUEQRGKPENWFGU
XCTKCDNGUFGhPGFQWVUKFGQHVJGEWTTGPVHWPEVKQP

HQQINQDCN

FGHHWPE 
DCTNQECN
RTKPV HQQ RTKPVUXCTKCDNGHQQHTQOINQDCNUEQRG
RTKPV DCT RTKPVUXCTKCDNGDCTHTQONQECNUEQRG

1PGECPKPURGEVYJKEJXCTKCDNGUCTGKPYJKEJUEQRG%WKNVKPHWPEVKQPUNQECNU CPFINQDCNU TGVWTPVJGYJQNG


UEQRGUCUFKEVKQPCTKGU

HQQ

FGHHWPE 
DCT
RTKPV INQDCNU MG[U RTKPVUCNNXCTKCDNGPCOGUKPINQDCNUEQRG
RTKPV NQECNU MG[U RTKPVUCNNXCTKCDNGPCOGUKPNQECNUEQRG

9JCVJCRRGPUYKVJPCOGENCUJGU"
HQQ

FGHHWPE 
HQQETGCVGUCPGYXCTKCDNGHQQKPNQECNUEQRGINQDCNHQQKUPQVCHHGEVGF

RTKPV HQQ RTKPVU

INQDCNXCTKCDNGHQQUVKNNGZKUVUWPEJCPIGF
RTKPV INQDCNU = HQQ ? RTKPVU
RTKPV NQECNU = HQQ ? RTKPVU

6QOQFKH[CINQDCNXCTKCDNGWUGMG[YQTFINQDCN

HQQ

FGHHWPE 
INQDCNHQQ
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6JGUEQRGKUFGaPGFHQTVJGYJQNGDQF[QHVJGHWPEVKQP

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HQQ

FGHHWPE 
6JKUHWPEVKQPJCUCNQECNXCTKCDNGHQQDGECWUGKVKUFGHKPGFFQYPDGNQY
5QHQQKUNQECNHTQOVJKURQKPV)NQDCNHQQKUJKFFGP

RTKPV HQQ TCKUGU7PDQWPF.QECN'TTQTDGECWUGNQECNHQQKUPQV[GVKPKVKCNK\GF


HQQ
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HQQ

FGHHWPE 
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RTKPV HQQ 


RTKPV INQDCNU = HQQ ? 

INQDCNHQQVJKUEQWNFDGCP[YJGTGYKVJKPVJGHWPEVKQP
RTKPV HQQ 

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FGHH 
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RTKPV NQECNU MG[U = DC\ ?
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RTKPV DCT KPINQDCNU (CNUG

FGHH 
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RTKPV DCT KPINQDCNU (CNUG

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INQDCNXUPQPNQECN 2[VJQPQPN[

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6JGINQDCNMG[YQTFFGENCTGUVJCVCPCOGUJQWNFDGVTGCVGFCUCINQDCNXCTKCDNG

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INQDCNHQQ
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6JGPQPNQECNUVCVGOGPVECWUGUVJGNKUVGFKFGPVKhGTUVQTGHGTVQRTGXKQWUN[DQWPFXCTKCDNGUKPVJGPGCTGUV
GPENQUKPIUEQRGGZENWFKPIINQDCNU

2[VJQPZ9HUVLRQc
FGHH 

FGHH 
HQQCPGYHQQNQECNKPH

FGHH 
PQPNQECNHQQHQQHTQOHYJKEJKUVJGPGCTGUVGPENQUKPIUEQRG
RTKPV HQQ 
HQQOQFKHKGUHQQHTQOHb

" 1&,+>@MDI&+!&+$ 2//"+ "


Z
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HQTZKPKVGTCDNGRCUU

(CEJQHVJGCDQXGUVCVGOGPVUKUCDKPFKPIQEEWTTGPEGZDGEQOGDQWPFVQVJGQDLGEVFGPQVGFD[mHVJKUUVCVGOGPV
CRRGCTUKPUKFGCHWPEVKQPVJGPZYKNNDGHWPEVKQPNQECND[FGHCWNV5GGVJG5[PVCZUGEVKQPHQTCNKUVQHDKPFKPI
UVCVGOGPVU

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RGTHQTOFKlGTGPVCEVKQPUFGRGPFKPIQPCDQQNGCPEQPFKVKQP6TWGQT)CNUG6JKUUGEVKQPEQXGTUVJGWUGQH2[VJQP
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" 1&,+>AM>I,+!&1&,+)5-/"00&,+X,/O%""/+/6
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GCUKN[TGCF

6JGQTFGTQHVJGCTIWOGPVUKUFKlGTGPVHTQOOCP[QVJGTNCPIWCIGU UWEJCU&4WD[,CXCGVE YJKEJOC[


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RTKPV 0WODGTKUUOCNNGTVJCP
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RTKPV 0WODGTKU

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EQPVKPWGUVCVGOGPV

$EQPVKPWGUVCVGOGPVYKNNUMKRVQVJGPGZVKVGTCVKQPQHVJGNQQRD[RCUUKPIVJGTGUVQHVJGEWTTGPVDNQEMDWV
EQPVKPWKPIVJGNQQR$UYKVJDTGCMEQPVKPWGECPQPN[CRRGCTKPUKFGNQQRU

HQTKKP  
KHKQTK
EQPVKPWG
RTKPV K






0QVGVJCVCPFCTGP VRTKPVGFVJKUKUDGECWUGEQPVKPWGIQGUVQVJGPGZVKVGTCVKQPKPUVGCFQHEQPVKPWKPIQPVQ
RTKPV K YJGPKQTK

0GUVGF.QQRU

DTGCMCPFEQPVKPWGQPN[QRGTCVGQPCUKPINGNGXGNQHNQQR6JGHQNNQYKPIGZCORNGYKNNQPN[DTGCMQWVQHVJGKPPGT
HQTNQQRPQVVJGQWVGTYJKNGNQQR

YJKNG6TWG
HQTKKPTCPIG  
KHK
DTGCM9KNNQPN[DTGCMQWVQHVJGKPPGTNQQRb

2[VJQPFQGUP VJCXGVJGCDKNKV[VQDTGCMQWVQHOWNVKRNGNGXGNUQHNQQRCVQPEGKHVJKUDGJCXKQTKUFGUKTGF
TGHCEVQTKPIQPGQTOQTGNQQRUKPVQCHWPEVKQPCPFTGRNCEKPIDTGCMYKVJTGVWTPOC[DGVJGYC[VQIQ

7UGTGVWTPHTQOYKVJKPCHWPEVKQPCUCDTGCM

6JGTGVWTPUVCVGOGPVGZKVUHTQOCHWPEVKQPYKVJQWVGZGEWVKPIVJGEQFGVJCVEQOGUCHVGTKV

mH[QWJCXGCNQQRKPUKFGCHWPEVKQPWUKPITGVWTPHTQOKPUKFGVJCVNQQRKUGSWKXCNGPVVQJCXKPICDTGCMCUVJGTGUVQH
VJGEQFGQHVJGNQQRKUPQVGZGEWVGF PQVGVJCVCP[EQFGCHVGTVJGNQQRKUPQVGZGEWVGFGKVJGT 

FGHDTGCMANQQR 
HQTKKPTCPIG  
KH K 
TGVWTP K
RTKPV K
TGVWTP 

mH[QWJCXGPGUVGFNQQRUVJGTGVWTPUVCVGOGPVYKNNDTGCMCNNNQQRU

FGHDTGCMACNN 
HQTLKPTCPIG  
HQTKKPTCPIG  
KHK L
TGVWTP K
RTKPV K L

YKNNQWVRWV

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 F?


 
 
 
 
 
 
TGVWTPDGECWUG VJGTGOCKPKPIKVGTCVKQPUQHDQVJNQQRUCTGPQVGZGEWVGF

" 1&,+>CM?I ,/),,-0


HQTNQQRUKVGTCVGQXGTCEQNNGEVKQPQHKVGOUUWEJCUNKUVQTFKEVCPFTWPCDNQEMQHEQFGYKVJGCEJGNGOGPVHTQO
VJGEQNNGEVKQP

HQTKKP=?
RTKPV K

6JGCDQXGHQTNQQRKVGTCVGUQXGTCNKUVQHPWODGTU

(CEJKVGTCVKQPUGVUVJGXCNWGQHKVQVJGPGZVGNGOGPVQHVJGNKUV5QhTUVKVYKNNDGVJGPVJGPGVE6JGQWVRWV
YKNNDGCUHQNNQY







TCPIGKUCHWPEVKQPVJCVTGVWTPUCUGTKGUQHPWODGTUWPFGTCPKVGTCDNGHQTOVJWUKVECPDGWUGFKPHQTNQQRU

HQTKKPTCPIG  
RTKPV K

IKXGUVJGGZCEVUCOGTGUWNVCUVJGhTUVHQTNQQR0QVGVJCVKUPQVRTKPVGFCUVJGTCPIGJGTGKUVJGhTUVhXG
PWODGTUEQWPVKPIHTQO

eVGTCDNGQDLGEVUCPFKVGTCVQTU

HQTNQQRECPKVGTCVGQPCP[KVGTCDNGQDLGEVYJKEJKUCPQDLGEVYJKEJFGhPGUCAAIGVKVGOAAQTCAAKVGTAAHWPEVKQP
6JGAAKVGTAAHWPEVKQPTGVWTPUCPKVGTCVQTYJKEJKUCPQDLGEVYKVJCPGZVHWPEVKQPVJCVKUWUGFVQCEEGUUVJGPGZV
GNGOGPVQHVJGKVGTCDNG

" 1&,+>CM@I 1"/1&+$,3"/)&010


6QKVGTCVGVJTQWIJCNKUV[QWECPWUGHQT

HQTZKP= QPG  VYQ  VJTGG  HQWT ?


RTKPV Z

6JKUYKNNRTKPVQWVVJGGNGOGPVUQHVJGNKUV

QPG
VYQ
VJTGG
HQWT

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 F@


6JGTCPIGHWPEVKQPIGPGTCVGUPWODGTUYJKEJCTGCNUQQHVGPWUGFKPCHQTNQQR

HQTZKPTCPIG  
RTKPV Z

6JGTGUWNVYKNNDGCURGEKCNTCPIGUGSWGPEGV[RGKPR[VJQP! CPFCNKUVKPR[VJQP %QVJECPDGNQQRGFVJTQWIJ


WUKPIVJGHQTNQQR







mH[QWYCPVVQNQQRVJQWIJDQVJVJGGNGOGPVUQHCNKUVCPFJCXGCPKPFGZHQTVJGGNGOGPVUCUYGNN[QWECPWUG
2[VJQP UGPWOGTCVGHWPEVKQP

HQTKPFGZKVGOKPGPWOGTCVG = QPG  VYQ  VJTGG  HQWT ? 


RTKPV KPFGZ  KVGO

GPWOGTCVGYKNNIGPGTCVGVWRNGUYJKEJCTGWPRCEMGFKPVQKPFGZ CPKPVGIGT CPFKVGO VJGCEVWCNXCNWGHTQOVJGNKUV 


6JGCDQXGNQQRYKNNRTKPV

   QPG
   VYQ
   VJTGG
   HQWT

mVGTCVGQXGTCNKUVYKVJXCNWGOCPKRWNCVKQPWUKPIOCRCPFNCODFCKGCRRN[NCODFCHWPEVKQPQPGCEJGNGOGPVKPVJG
NKUV

ZOCR NCODFCGGWRRGT = QPG  VYQ  VJTGG  HQWT ?


RTKPV Z

1WVRWV

= 10'  691  6*4''  (174 ?2[VJQPZ

0%KP2[VJQPZOCRTGVWTPUCPKVGTCVQTKPUVGCFQHCNKUVUQ[QWKPECUG[QWPGGFCNKUV[QWJCXGVQECUVVJGTGUWNV
RTKPV NKUV Z

" 1&,+>CMAI,,-04&1%+O")0"O )20"


6JGHQTCPFYJKNGEQORQWPFUVCVGOGPVU NQQRU ECPQRVKQPCNN[JCXGCPGNUGENCWUG KPRTCEVKEGVJKUWUCIGKUHCKTN[
TCTG 

6JGGNUGENCWUGQPN[GZGEWVGUCHVGTCHQTNQQRVGTOKPCVGUD[KVGTCVKPIVQEQORNGVKQPQTCHVGTCYJKNGNQQR
VGTOKPCVGUD[KVUEQPFKVKQPCNGZRTGUUKQPDGEQOKPIHCNUG

HQTKKPTCPIG  
RTKPV K
GNUG
RTKPV FQPG

K

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 FA


YJKNGK
RTKPV K
K 
GNUG
RTKPV FQPG

QWVRWV




GRQH

6JGGNUGENCWUGFQGUPQVGZGEWVGKHVJGNQQRVGTOKPCVGUUQOGQVJGTYC[ VJTQWIJCDTGCMUVCVGOGPVQTD[TCKUKPI
CPGZEGRVKQP 

HQTKKPTCPIG  
RTKPV K
KHK
DTGCM
GNUG
RTKPV FQPG

QWVRWV




/QUVQVJGTRTQITCOOKPINCPIWCIGUNCEMVJKUQRVKQPCNGNUGENCWUGQHNQQRU6JGWUGQHVJGMG[YQTFGNUGKP
RCTVKEWNCTKUQHVGPEQPUKFGTGFEQPHWUKPI

6JGQTKIKPCNEQPEGRVHQTUWEJCENCWUGFCVGUDCEMVQ'QPCNF-PWVJCPFVJGOGCPKPIQHVJGGNUGMG[YQTFDGEQOGU
ENGCTKHYGTGYTKVGCNQQRKPVGTOUQHKHUVCVGOGPVUCPFIQVQUVCVGOGPVUHTQOGCTNKGTFC[UDGHQTGUVTWEVWTGF
RTQITCOOKPIQTHTQOCNQYGTNGXGNCUUGODN[NCPIWCIG

)QTGZCORNG

YJKNGNQQRAEQPFKVKQP 

KHDTGCMAEQPFKVKQP 
DTGCM


KUGSWKXCNGPVVQ

RUGWFQEQFG

UVCTV 
KHNQQRAEQPFKVKQP 

KHDTGCMAEQPFKVKQP 
IQVQGPF

IQVQUVCTV

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 FB


GPF 

6JGUGTGOCKPGSWKXCNGPVKHYGCVVCEJCPGNUGENCWUGVQGCEJQHVJGO

)QTGZCORNG

YJKNGNQQRAEQPFKVKQP 

KHDTGCMAEQPFKVKQP 
DTGCM

GNUG
RTKPV FQPG

KUGSWKXCNGPVVQ

RUGWFQEQFG

UVCTV 
KHNQQRAEQPFKVKQP 

KHDTGCMAEQPFKVKQP 
IQVQGPF

IQVQUVCTV
GNUG
RTKPV FQPG

GPF 

$HQTNQQRYKVJCPGNUGENCWUGECPDGWPFGTUVQQFVJGUCOGYC[&QPEGRVWCNN[VJGTGKUCNQQREQPFKVKQPVJCV
TGOCKPU6TWGCUNQPICUVJGKVGTCDNGQDLGEVQTUGSWGPEGUVKNNJCUUQOGTGOCKPKPIGNGOGPVU

9J[YQWNFQPGWUGVJKUUVTCPIGEQPUVTWEV"

6JGOCKPWUGECUGHQTVJGHQTGNUGEQPUVTWEVKUCEQPEKUGKORNGOGPVCVKQPQHUGCTEJCUHQTKPUVCPEG

C=?
HQTKKPC
KHV[RG K KUPQVKPV
RTKPV K
DTGCM
GNUG
RTKPV PQGZEGRVKQP

6QOCMGVJGGNUGKPVJKUEQPUVTWEVNGUUEQPHWUKPIQPGECPVJKPMQHKVCUKHPQVDTGCMQTKHPQVHQWPF

5QOGFKUEWUUKQPUQPVJKUECPDGHQWPFKP=2[VJQPKFGCU?5WOOCT[QHHQTGNUGVJTGCFU9J[FQGUR[VJQPWUG GNUG
CHVGTHQTCPFYJKNGNQQRU"CPF(NUG&NCWUGUQP.QQR5VCVGOGPVU

" 1&,+>CMBI%"0011"*"+1
RCUUKUCPWNNUVCVGOGPVHQTYJGPCUVCVGOGPVKUTGSWKTGFD[2[VJQPU[PVCZ UWEJCUYKVJKPVJGDQF[QHCHQTQT
YJKNGNQQR DWVPQCEVKQPKUTGSWKTGFQTFGUKTGFD[VJGRTQITCOOGT6JKUECPDGWUGHWNCUCRNCEGJQNFGTHQTEQFG
VJCVKU[GVVQDGYTKVVGP

HQTZKPTCPIG  

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 FC


RCUUYGFQP VYCPVVQFQCP[VJKPIQTCTGPQVTGCF[VQFQCP[VJKPIJGTGUQYG NNRCUU

mPVJKUGZCORNGPQVJKPIYKNNJCRRGP6JGHQTNQQRYKNNEQORNGVGYKVJQWVGTTQTDWVPQEQOOCPFUQTEQFGYKNNDG
CEVKQPGFRCUUCNNQYUWUVQTWPQWTEQFGUWEEGUUHWNN[YKVJQWVJCXKPICNNEQOOCPFUCPFCEVKQPHWNN[KORNGOGPVGF

5KOKNCTN[RCUUECPDGWUGFKPYJKNGNQQRUCUYGNNCUKPUGNGEVKQPUCPFHWPEVKQPFGhPKVKQPUGVE

YJKNGZ[
RCUU

" 1&,+>CMCI 1"/1&+$,3"/!& 1&,+/&"0


&QPUKFGTKPIVJGHQNNQYKPIFKEVKQPCT[

F]CDE_

6QKVGTCVGVJTQWIJKVUMG[U[QWECPWUG

HQTMG[KPF
RTKPV MG[

1WVRWV

C
D
E

6JKUKUGSWKXCNGPVVQ

HQTMG[KPFMG[U 
RTKPV MG[

QTKP2[VJQP

HQTMG[KPFKVGTMG[U 
RTKPV MG[

6QKVGTCVGVJTQWIJKVUXCNWGUWUG

HQTXCNWGKPFXCNWGU 
RTKPV XCNWG

1WVRWV





6QKVGTCVGVJTQWIJKVUMG[UCPFXCNWGUWUG

HQTMG[XCNWGKPFKVGOU 
RTKPV MG[XCNWG

1WVRWV

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 FD


C
D
E

0QVGVJCVKP2[VJQPMG[U XCNWGU CPFKVGOU TGVWTPCNKUVQDLGEVmH[QWUKORN[PGGFVQKVGTCVGVJTQWIJ


VJGTGUWNV[QWECPWUGVJGGSWKXCNGPVKVGTMG[U KVGTXCNWGU CPFKVGTKVGOU 

6JGFKlGTGPEGDGVYGGPMG[U CPFKVGTMG[U XCNWGU CPFKVGTXCNWGU KVGOU CPFKVGTKVGOU KU


VJCVVJGKVGT OGVJQFUCTGIGPGTCVQTU6JWUVJGGNGOGPVUYKVJKPVJGFKEVKQPCT[CTG[KGNFGFQPGD[QPGCUVJG[CTG
GXCNWCVGF9JGPCNKUVQDLGEVKUTGVWTPGFCNNQHVJGGNGOGPVUCTGRCEMGFKPVQCNKUVCPFVJGPTGVWTPGFHQTHWTVJGT
GXCNWCVKQP

0QVGCNUQVJCVKP2[VJQP1TFGTQHKVGOURTKPVGFKPVJGCDQXGOCPPGTFQGUPQVHQNNQYCP[QTFGT

" 1&,+>CMDI%"O%)#),,-O!,Z4%&)"
7PNKMGQVJGTNCPIWCIGU2[VJQPFQGUP VJCXGCFQWPVKNQTCFQYJKNGEQPUVTWEV VJKUYKNNCNNQYEQFGVQDGGZGEWVGF
QPEGDGHQTGVJGEQPFKVKQPKUVGUVGF +QYGXGT[QWECPEQODKPGCYJKNG6TWGYKVJCDTGCMVQCEJKGXGVJGUCOG
RWTRQUG

C
YJKNG6TWG
CC
RTKPV C
KHC
DTGCM
RTKPV &QPG

6JKUYKNNRTKPV





'RQH

" 1&,+>CMEI,,-&+$+!+- (&+$


mH[QWYCPVVQNQQRQXGTCNKUVQHVWRNGUHQTGZCORNG

EQNNGEVKQP= C  D  E  Z  [  \       ?

KPUVGCFQHFQKPIUQOGVJKPINKMGVJKU

HQTKVGOKPEQNNGEVKQP
KKVGO=?
KKVGO=?
KKVGO=?
NQIKE

QTUQOGVJKPINKMGVJKU

HQTKVGOKPEQNNGEVKQP

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 FE


KKKKVGO
NQIKE

;QWECPUKORN[FQVJKU

HQTKKKKPEQNNGEVKQP
NQIKE

6JKUYKNNCNUQYQTMHQTOQUVV[RGUQHKVGTCDNGUPQVLWUVVWRNGU

" 1&,+>CMFI 1"/1&+$!&8"/"+1-,/1&,+,#)&014&1%!&8"/"+1


01"-0&7"
5WRRQUG[QWJCXGCNQPINKUVQHGNGOGPVUCPF[QWCTGQPN[KPVGTGUVGFKPGXGT[QVJGTGNGOGPVQHVJGNKUV2GTJCRU[QW
QPN[YCPVVQGZCOKPGVJGhTUVQTNCUVGNGOGPVUQTCURGEKhETCPIGQHGPVTKGUKP[QWTNKUV2[VJQPJCUUVTQPIKPFGZKPI
DWKNVKPECRCDKNKVKGU+GTGCTGUQOGGZCORNGUQHJQYVQCEJKGXGVJGUGUEGPCTKQU

+GTG UCUKORNGNKUVVJCVYKNNDGWUGFVJTQWIJQWVVJGGZCORNGU

NUV= CNRJC  DTCXQ  EJCTNKG  FGNVC  GEJQ ?

eVGTCVKQPQXGTVJGYJQNGNKUV

6QKVGTCVGQXGTGCEJGNGOGPVKPVJGNKUVCHQTNQQRNKMGDGNQYECPDGWUGF

HQTUKPNUV
RTKPVU=?RTKPVVJGHKTUVNGVVGT

6JGHQTNQQRCUUKIPUUHQTGCEJGNGOGPVQHNUV6JKUYKNNRTKPV

C
D
E
F
G

1HVGP[QWPGGFDQVJVJGGNGOGPVCPFVJGKPFGZQHVJCVGNGOGPV6JGGPWOGTCVGMG[YQTFRGTHQTOUVJCVVCUM

HQTKFZUKPGPWOGTCVG NUV 
RTKPV UJCUCPKPFGZQHF UKFZ

6JGKPFGZKFZYKNNUVCTVYKVJ\GTQCPFKPETGOGPVHQTGCEJKVGTCVKQPYJKNGVJGUYKNNEQPVCKPVJGGNGOGPVDGKPI
RTQEGUUGF6JGRTGXKQWUUPKRRGVYKNNQWVRWV

DOSKDKDVDQLQGH[RI
EUDYRKDVDQLQGH[RI
FKDUOLHKDVDQLQGH[RI
GHOWDKDVDQLQGH[RI
HFKRKDVDQLQGH[RI

eVGTCVGQXGTUWDNKUV

mHYGYCPVVQKVGTCVGQXGTCTCPIG TGOGODGTKPIVJCV2[VJQPWUGU\GTQDCUGFKPFGZKPI WUGVJGTCPIGMG[YQTF

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 FF


HQTKKPTCPIG  
RTKPV NUVCVFEQPVCKPUU KNUV=K?

6JKUYQWNFQWVRWV

OVWDWFRQWDLQVFKDUOLH
OVWDWFRQWDLQVGHOWD

6JGNKUVOC[CNUQDGUNKEGF6JGHQNNQYKPIUNKEGPQVCVKQPIQGUHTQOGNGOGPVCVKPFGZVQVJGGPFYKVJCUVGRQH
6JGVYQHQTNQQRUIKXGVJGUCOGTGUWNV

HQTUKPNUV=?
RTKPV U

HQTKKPTCPIG NGP NUV  


RTKPV NUV=K?

6JGCDQXGUPKRRGVQWVRWVU

DTCXQ
FGNVC

mPFGZKPICPFUNKEKPIKUCVQRKEQHKVUQYP

" 1&,+>CM>=I%&)",,-
$YJKNGNQQRYKNNECWUGVJGNQQRUVCVGOGPVUVQDGGZGEWVGFWPVKNVJGNQQREQPFKVKQPKUHCNUG[6JGHQNNQYKPIEQFGYKNN
GZGEWVGVJGNQQRUVCVGOGPVUCVQVCNQHVKOGU

K
YJKNGK
NQQRUVCVGOGPVU
KK 

9JKNGVJGCDQXGNQQRECPGCUKN[DGVTCPUNCVGFKPVQCOQTGGNGICPVHQTNQQRYJKNGNQQRUCTGWUGHWNHQTEJGEMKPIKH
UQOGEQPFKVKQPJCUDGGPOGV6JGHQNNQYKPINQQRYKNNEQPVKPWGVQGZGEWVGWPVKNO[1DLGEVKUTGCF[

O[1DLGEVCP1DLGEV
YJKNGO[1DLGEVKU0QV4GCF[ 
O[1DLGEVVT[6Q)GV4GCF[

YJKNGNQQRUECPCNUQTWPYKVJQWVCEQPFKVKQPD[WUKPIPWODGTU EQORNGZQTTGCN QT6TWG

KORQTVEOCVJ

EQORNGZAPWOEOCVJUSTV 
YJKNGEQORNGZAPWO;QWECPCNUQTGRNCEGEQORNGZAPWOYKVJCP[PWODGT6TWGQTCXCNWGQHCP[
V[RG
RTKPV EQORNGZAPWO 2TKPVULHQTGXGT

mHVJGEQPFKVKQPKUCNYC[UVTWGVJGYJKNGNQQRYKNNTWPHQTGXGT KPhPKVGNQQR KHKVKUPQVVGTOKPCVGFD[CDTGCMQTTGVWTP


UVCVGOGPVQTCPGZEGRVKQP

YJKNG6TWG
RTKPV+PHKPKVGNQQR

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 >==


+PHKPKVGNQQR
+PHKPKVGNQQR
+PHKPKVGNQQR


,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 >=>


%-1"/>DI//60
2CTCOGVGT 'GVCKNU
D 4GRTGUGPVUUKIPGFKPVGIGTQHUK\GD[VG
$ 4GRTGUGPVUWPUKIPGFKPVGIGTQHUK\GD[VG
E 4GRTGUGPVUEJCTCEVGTQHUK\GD[VG
W 4GRTGUGPVUWPKEQFGEJCTCEVGTQHUK\GD[VGU
J 4GRTGUGPVUUKIPGFKPVGIGTQHUK\GD[VGU
* 4GRTGUGPVUWPUKIPGFKPVGIGTQHUK\GD[VGU
K 4GRTGUGPVUUKIPGFKPVGIGTQHUK\GD[VGU
+ 4GRTGUGPVUWPUKIPGFKPVGIGTQHUK\GD[VGU
Y 4GRTGUGPVUWPKEQFGEJCTCEVGTQHUK\GD[VGU
N 4GRTGUGPVUUKIPGFKPVGIGTQHUK\GD[VGU
. 4GRTGUGPVUWPUKIPGFKPVGIGTQHUK\GD[VGU
H 4GRTGUGPVUiQCVKPIRQKPVQHUK\GD[VGU
F 4GRTGUGPVUiQCVKPIRQKPVQHUK\GD[VGU
$TTC[UKP2[VJQPCTGPQVVJGCTTC[UKPEQPXGPVKQPCNRTQITCOOKPINCPIWCIGUNKMG&CPF,CXCDWVENQUGTVQNKUVU$
NKUVECPDGCEQNNGEVKQPQHGKVJGTJQOQIGPGQWUQTJGVGTQIGPGQWUGNGOGPVUCPFOC[EQPVCKPKPVUUVTKPIUQTQVJGT
NKUVU

" 1&,+>DM>I "00&+!&3&!2)")"*"+101%/,2$%&+!"5"0


mPFKXKFWCNGNGOGPVUECPDGCEEGUUGFVJTQWIJKPFGZGU2[VJQPCTTC[UCTG\GTQKPFGZGF+GTGKUCPGZCORNG

O[ACTTC[CTTC[ K =?
RTKPV O[ACTTC[=?

RTKPV O[ACTTC[=?

RTKPV O[ACTTC[=?


" 1&,+>DM?I0&  +1/,!2 1&,+1,//60


$PCTTC[KUCFCVCUVTWEVWTGVJCVUVQTGUXCNWGUQHUCOGFCVCV[RGmP2[VJQPVJKUKUVJGOCKPFKlGTGPEGDGVYGGP
CTTC[UCPFNKUVU

9JKNGR[VJQPNKUVUECPEQPVCKPXCNWGUEQTTGURQPFKPIVQFKlGTGPVFCVCV[RGUCTTC[UKPR[VJQPECPQPN[EQPVCKP
XCNWGUEQTTGURQPFKPIVQUCOGFCVCV[RGmPVJKUVWVQTKCNYGYKNNWPFGTUVCPFVJG2[VJQPCTTC[UYKVJHGYGZCORNGU

mH[QWCTGPGYVQ2[VJQPIGVUVCTVGFYKVJVJG2[VJQPmPVTQFWEVKQPCTVKENG

6QWUGCTTC[UKPR[VJQPNCPIWCIG[QWPGGFVQKORQTVVJGUVCPFCTFCTTC[OQFWNG6JKUKUDGECWUGCTTC[KUPQVC
HWPFCOGPVCNFCVCV[RGNKMGUVTKPIUKPVGIGTGVE+GTGKUJQY[QWECPKORQTVCTTC[OQFWNGKPR[VJQP

HTQOCTTC[KORQTV

1PEG[QWJCXGKORQTVGFVJGCTTC[OQFWNG[QWECPFGENCTGCPCTTC[+GTGKUJQY[QWFQKV

CTTC[+FGPVKHKGT0COGCTTC[ V[RGEQFG=+PKVKCNK\GTU?

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 >=?


mPVJGFGENCTCVKQPCDQXGCTTC[+FGPVKHKGT0COGKUVJGPCOGQHCTTC[V[RGEQFGNGVUR[VJQPMPQYVJGV[RGQHCTTC[
CPF+PKVKCNK\GTUCTGVJGXCNWGUYKVJYJKEJCTTC[KUKPKVKCNK\GF

6[RGEQFGUCTGVJGEQFGUVJCVCTGWUGFVQFGhPGVJGV[RGQHCTTC[XCNWGUQTVJGV[RGQHCTTC[6JGVCDNGKPVJG
RCTCOGVGTUUGEVKQPUJQYUVJGRQUUKDNGXCNWGU[QWECPWUGYJGPFGENCTKPICPCTTC[CPFKV UV[RG

+GTGKUCTGCNYQTNFGZCORNGQHR[VJQPCTTC[FGENCTCVKQP

O[ACTTC[CTTC[ K =?

mPVJGGZCORNGCDQXGV[RGEQFGWUGFKUK6JKUV[RGEQFGTGRTGUGPVUUKIPGFKPVGIGTYJQUGUK\GKUD[VGU

+GTGKUCUKORNGGZCORNGQHCPCTTC[EQPVCKPKPIKPVGIGTU

HTQOCTTC[KORQTV
O[ACTTC[CTTC[ K =?
HQTKKPO[ACTTC[
RTKPV K






" 1&,+>DM@I--"+!+63)2"1,1%"//620&+$--"+!XY
*"1%,!
O[ACTTC[CTTC[ K =?
O[ACTTC[CRRGPF 
CTTC[ K =?

0QVGVJCVVJGXCNWGYCUCRRGPFGFVQVJGGZKUVKPICTTC[XCNWGU

" 1&,+>DMAI +0"/13)2"&++//620&+$&+0"/1XY*"1%,!


9GECPWUGVJGKPUGTV OGVJQFVQKPUGTVCXCNWGCVCP[KPFGZQHVJGCTTC[+GTGKUCPGZCORNG

O[ACTTC[CTTC[ K =?
O[ACTTC[KPUGTV 
CTTC[ K =?

mPVJGCDQXGGZCORNGVJGXCNWGYCUKPUGTVGFCVKPFGZ0QVGVJCVVJGhTUVCTIWOGPVKUVJGKPFGZYJKNGUGEQPF
CTIWOGPVKUVJGXCNWG

" 1&,+>DMBI51"+!-61%,+//620&+$"51"+!XY*"1%,!
$R[VJQPCTTC[ECPDGGZVGPFGFYKVJOQTGVJCPQPGXCNWGWUKPIGZVGPF OGVJQF+GTGKUCPGZCORNG

O[ACTTC[CTTC[ K =?
O[AGZVPFACTTC[CTTC[ K =?
O[ACTTC[GZVGPF O[AGZVPFACTTC[
CTTC[ K =?

9GUGGVJCVVJGCTTC[O[ACTTC[YCUGZVGPFGFYKVJXCNWGUHTQOO[AGZVPFACTTC[

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 >=@


" 1&,+>DMCI!!&1"*0#/,*)&01&+1,//620&+$#/,*)&01XY
*"1%,!
+GTGKUCPGZCORNG

O[ACTTC[CTTC[ K =?
E=?
O[ACTTC[HTQONKUV E
CTTC[ K =?

5QYGUGGVJCVVJGXCNWGUCPFYGTGCFFGFHTQONKUVEVQO[ACTTC[

" 1&,+>DMDI"*,3"+6//6")"*"+120&+$/"*,3"XY
*"1%,!
+GTGKUCPGZCORNG

O[ACTTC[CTTC[ K =?
O[ACTTC[TGOQXG 
CTTC[ K =?

9GUGGVJCVVJGGNGOGPVYCUTGOQXGFHTQOVJGCTTC[

" 1&,+>DMEI"*,3")01//6")"*"+120&+$-,-XY*"1%,!
RQRTGOQXGUVJGNCUVGNGOGPVHTQOVJGCTTC[+GTGKUCPGZCORNG

O[ACTTC[CTTC[ K =?
O[ACTTC[RQR
CTTC[ K =?

5QYGUGGVJCVVJGNCUVGNGOGPV  YCURQRRGFQWVQHCTTC[

" 1&,+>DMFI "1 %+6")"*"+11%/,2$%&10&+!"520&+$&+!"5XY


*"1%,!
KPFGZ TGVWTPUhTUVKPFGZQHVJGOCVEJKPIXCNWG4GOGODGTVJCVCTTC[UCTG\GTQKPFGZGF

O[ACTTC[CTTC[ K =?
RTKPV O[ACTTC[KPFGZ 

O[ACTTC[CTTC[ K =?
RTKPV O[ACTTC[KPFGZ 


0QVGKPVJCVUGEQPFGZCORNGVJCVQPN[QPGKPFGZYCUTGVWTPGFGXGPVJQWIJVJGXCNWGGZKUVUVYKEGKPVJGCTTC[

" 1&,+>DM>=I"3"/0"-61%,+//620&+$/"3"/0"XY*"1%,!
6JGTGXGTUG OGVJQFFQGUYJCVVJGPCOGUC[UKVYKNNFQTGXGTUGUVJGCTTC[+GTGKUCPGZCORNG

O[ACTTC[CTTC[ K =?
O[ACTTC[TGXGTUG
CTTC[ K =?

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 >=A


" 1&,+>DM>>I "1//628"/&+#,/*1&,+1%/,2$%
28"/S&+#,XY*"1%,!
6JKUOGVJQFRTQXKFGU[QWVJGCTTC[DWlGTUVCTVCFFTGUUKPOGOQT[CPFPWODGTQHGNGOGPVUKPCTTC[+GTGKUCP
GZCORNG

O[ACTTC[CTTC[ K =?
O[ACTTC[DWHHGTAKPHQ


" 1&,+>DM>?I%" (#,/+2*"/,#, 2//"+ "0,#+")"*"+1


20&+$ ,2+1XY*"1%,!
EQWPV YKNNTGVWTPVJGPWODGTQHVKOGUCPFGNGOGPVCRRGCTUKPCPCTTC[mPVJGHQNNQYKPIGZCORNGYGUGGVJCVVJG
XCNWGQEEWTUVYKEG

O[ACTTC[CTTC[ K =?
O[ACTTC[EQWPV 


" 1&,+>DM>@I,+3"/1//61,01/&+$20&+$1,01/&+$XY*"1%,!
VQUVTKPI EQPXGTVUVJGCTTC[VQCUVTKPI

O[AEJCTACTTC[CTTC[ E = I  G  G  M ?
CTTC[ E  IGGM
RTKPV O[AEJCTACTTC[VQUVTKPI
IGGM

" 1&,+>DM>AI,+3"/1//61,-61%,+)&014&1%0*"
")"*"+1020&+$1,)&01XY*"1%,!
9JGP[QWPGGFC2[VJQPNKUVQDLGEV[QWECPWVKNK\GVJGVQNKUV OGVJQFVQEQPXGTV[QWTCTTC[VQCNKUV

O[ACTTC[CTTC[ K =?
EO[ACTTC[VQNKUV
=?

" 1&,+>DM>BI--"+!01/&+$1, %///620&+$#/,*01/&+$XY


*"1%,!
;QWCTGCDNGVQCRRGPFCUVTKPIVQCEJCTCEVGTCTTC[WUKPIHTQOUVTKPI

O[AEJCTACTTC[CTTC[ E = I  G  G  M ?
O[AEJCTACTTC[HTQOUVTKPI UVWHH
RTKPV O[AEJCTACTTC[
CTTC[ E  IGGMUVWHH

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 >=B


%-1"/>EI2)1&!&*"+0&,+)//60
" 1&,+>EM>I&010&+)&010
$IQQFYC[VQXKUWCNK\GCFCTTC[KUCUCNKUVQHNKUVU5QOGVJKPINKMGVJKU

NUV==?=?=??

JGTGVJGQWVGTNKUVNUVJCUVJTGGVJKPIUKPKVGCEJQHVJQUGVJKPIUKUCPQVJGTNKUV6JGhTUVQPGKU=?VJGUGEQPF
QPGKU=?CPFVJGVJKTFQPGKU=?;QWECPCEEGUUVJGUGNKUVUVJGUCOGYC[[QWYQWNFCEEGUUCPQVJGT
QVJGTGNGOGPVQHCNKUVNKMGVJKU

RTKPV NUV=?
QWVRWV=?

RTKPV NUV=?
QWVRWV=?

RTKPV NUV=?
QWVRWV=?

;QWECPVJGPCEEGUUVJGFKlGTGPVGNGOGPVUKPGCEJQHVJQUGNKUVUVJGUCOGYC[

RTKPV NUV=?=?
QWVRWV

RTKPV NUV=?=?
QWVRWV

+GTGVJGhTUVPWODGTKPUKFGVJG=?DTCEMGVUOGCPUIGVVJGNKUVKPVJCVRQUKVKQPmPVJGCDQXGGZCORNGYGWUGFVJG
PWODGTVQOGCPIGVVJGNKUVKPVJGVJRQUKVKQPYJKEJKU=?6JGUGEQPFUGVQH=?DTCEMGVUOGCPUIGVVJG
KVGOKPVJCVRQUKVKQPHTQOVJGKPPGTNKUVmPVJKUECUGYGWUGFDQVJCPFVJGVJRQUKVKQPKPVJGNKUVYGIQVKUVJG
PWODGTCPFKPVJGUVRQUKVKQPKVKU

;QWECPCNUQUGVXCNWGUKPUKFGVJGUGNKUVUVJGUCOGYC[

NUV=?=?

0QYVJGNKUVKU==?=?=??mPVJKUGZCORNGYGEJCPIGFVJGYJQNGhTUVNKUVVQDGCEQORNGVGN[
PGYNKUV

NUV=?=?

0QYVJGNKUVKU==?=?=??mPVJKUGZCORNGYGEJCPIGFCUKPINGGNGOGPVKPUKFGQHQPGQHVJG
KPPGTNKUVU)KTUVYGYGPVKPVQVJGNKUVCVRQUKVKQPCPFEJCPIGFVJGGNGOGPVYKVJKPKVCVRQUKVKQPYJKEJYCUPQY
KV U

" 1&,+>EM?I&010&+)&010&+)&010&+MM
6JKUDGJCXKQWTECPDGGZVGPFGF+GTGKUCFKOGPUKQPCNCTTC[

===?=?=??==?=?=??==
?=?=???

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 >=C


$UKURTQDCDN[QDXKQWUVJKUIGVUCDKVJCTFVQTGCF7UGDCEMUNCUJGUVQDTGCMWRVJGFKlGTGPVFKOGPUKQPU

===?=?=??>
==?=?=??>
==?=?=???

%[PGUVKPIVJGNKUVUNKMGVJKU[QWECPGZVGPFVQCTDKVTCTKN[JKIJFKOGPUKQPU

$EEGUUKPIKUUKOKNCTVQ'CTTC[U

RTKPV O[CTTC[
RTKPV O[CTTC[=?
RTKPV O[CTTC[=?=?
RTKPV O[CTTC[=?=?=?
GVE

$PFGFKVKPIKUCNUQUKOKNCT

O[CTTC[=?PGYAPAFANKUV
O[CTTC[=?=?PGYAPAFANKUV
O[CTTC[=?=?=?PGYAPAFANKUVQTCUKPINGPWODGTKH[QW TGFGCNKPIYKVJ&CTTC[U
GVE

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 >=D


%-1"/>FI& 1&,+/6
2CTCOGVGT 'GVCKNU
MG[ 6JGFGUKTGFMG[VQNQQMWR
XCNWG 6JGXCNWGVQUGVQTTGVWTP

" 1&,+>FM>I +1/,!2 1&,+1,& 1&,+/6


$FKEVKQPCT[KUCPGZCORNGQHCMG[XCNWGUVQTGCNUQMPQYPCU/CRRKPIKP2[VJQPmVCNNQYU[QWVQUVQTGCPFTGVTKGXG
GNGOGPVUD[TGHGTGPEKPICMG[$UFKEVKQPCTKGUCTGTGHGTGPEGFD[MG[VJG[JCXGXGT[HCUVNQQMWRU$UVJG[CTG
RTKOCTKN[WUGFHQTTGHGTGPEKPIKVGOUD[MG[VJG[CTGPQVUQTVGF

ETGCVKPICFKEV

'KEVKQPCTKGUECPDGKPKVKCVGFKPOCP[YC[U

NKVGTCNU[PVCZ
F]_GORV[FKEV
F] MG[  XCNWG _FKEVYKVJKPKVKCNXCNWGU

2[VJQPZ9HUVLRQc
#NUQWPRCEMKPIQPGQTOWNVKRNGFKEVKQPCTKGUYKVJVJGNKVGTCNU[PVCZKURQUUKDNG

OCMGUCUJCNNQYEQR[QHQVJGTFKEV
F] QVJGTFKEV_
CNUQWRFCVGUVJGUJCNNQYEQR[YKVJVJGEQPVGPVUQHVJG[GVCPQVJGTFKEV
F] QVJGTFKEV [GVCPQVJGTFKEV_

FKEVEQORTGJGPUKQP
F]MXHQTMXKP= MG[  XCNWG  ?_

UGGCNUQ&QORTGJGPUKQPU

DWKNVKPENCUUFKEV
FFKEV GORV[FKEV
FFKEV MG[ XCNWG GZRNKEKVMG[YQTFCTIWOGPVU
FFKEV = MG[  XCNWG ? RCUUKPIKPCNKUVQHMG[XCNWGRCKTU
OCMGCUJCNNQYEQR[QHCPQVJGTFKEV QPN[RQUUKDNGKHMG[UCTGQPN[UVTKPIUb
FFKEV QVJGTFKEV 

OQFKH[KPICFKEV

6QCFFKVGOUVQCFKEVKQPCT[UKORN[ETGCVGCPGYMG[YKVJCXCNWG

F= PGYMG[ ?

mVCNUQRQUUKDNGVQCFFNKUVCPFFKEVKQPCT[CUXCNWG

F= PGYANKUV ?=?
F= PGYAFKEV ?] PGUVGFAFKEV _

6QFGNGVGCPKVGOFGNGVGVJGMG[HTQOVJGFKEVKQPCT[

FGNF= PGYMG[ ?

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 >=E


" 1&,+>FM?I3,&!&+$"6//,/5 "-1&,+0
1PGEQOOQPRKVHCNNYJGPWUKPIFKEVKQPCTKGUKUVQCEEGUUCPQPGZKUVGPVMG[6JKUV[RKECNN[TGUWNVUKPC-G['TTQT
GZEGRVKQP

O[FKEV]_
O[FKEV= PQVVJGTG ?

6TCEGDCEM OQUVTGEGPVECNNNCUV 
(KNGUVFKP NKPGKPOQFWNG
-G['TTQT PQVVJGTG

1PGYC[VQCXQKFMG[GTTQTUKUVQWUGVJGFKEVIGVOGVJQFYJKEJCNNQYU[QWVQURGEKH[CFGHCWNVXCNWGVQTGVWTPKP
VJGECUGQHCPCDUGPVMG[

XCNWGO[FKEVIGV MG[FGHCWNVAXCNWG

9JKEJTGVWTPUO[FKEV=MG[?KHKVGZKUVUDWVQVJGTYKUGTGVWTPUFGHCWNVAXCNWG0QVGVJCVVJKUFQGUP VCFFMG[VQ
O[FKEV5QKH[QWYCPVVQTGVCKPVJCVMG[XCNWGRCKT[QWUJQWNFWUGO[FKEVUGVFGHCWNV MG[FGHCWNVAXCNWG 
YJKEJFQGUUVQTGVJGMG[XCNWGRCKT

O[FKEV]_
RTKPV O[FKEV
]_
RTKPV O[FKEVIGV HQQDCT
DCT
RTKPV O[FKEV
]_
RTKPV O[FKEVUGVFGHCWNV HQQDCT
DCT
RTKPV O[FKEV
] HQQ  DCT _

$PCNVGTPCVKXGYC[VQFGCNYKVJVJGRTQDNGOKUECVEJKPIVJGGZEGRVKQP

VT[
XCNWGO[FKEV=MG[?
GZEGRV-G['TTQT
XCNWGFGHCWNVAXCNWG

;QWEQWNFCNUQEJGEMKHVJGMG[KUKPVJGFKEVKQPCT[

KHMG[KPO[FKEV
XCNWGO[FKEV=MG[?
GNUG
XCNWGFGHCWNVAXCNWG

'QPQVGJQYGXGTVJCVKPOWNVKVJTGCFGFGPXKTQPOGPVUKVKURQUUKDNGHQTVJGMG[VQDGTGOQXGFHTQOVJGFKEVKQPCT[
CHVGT[QWEJGEMETGCVKPICTCEGEQPFKVKQPYJGTGVJGGZEGRVKQPECPUVKNNDGVJTQYP

$PQVJGTQRVKQPKUVQWUGCUWDENCUUQHFKEVEQNNGEVKQPUFGHCWNVFKEVVJCVJCUCFGHCWNVAHCEVQT[VQETGCVGPGYGPVTKGUKP
VJGFKEVYJGPIKXGPCPGYAMG[

" 1&,+>FM@I 1"/1&+$3"/& 1&,+/6


mH[QWWUGCFKEVKQPCT[CUCPKVGTCVQT GIKPCHQTUVCVGOGPV KVVTCXGTUGUVJGMG[UQHVJGFKEVKQPCT[)QTGZCORNG

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 >=F


F] C  D  E _
HQTMG[KPF
RTKPV MG[F=MG[?
E
D
C

6JGUCOGKUVTWGYJGPWUGFKPCEQORTGJGPUKQP

RTKPV =MG[HQTMG[KPF?
= E  D  C ?

2[VJQPZ9HUVLRQc

6JGKVGOU OGVJQFECPDGWUGFVQNQQRQXGTDQVJVJGMG[CPFXCNWGUKOWNVCPGQWUN[

HQTMG[XCNWGKPFKVGOU 
RTKPV MG[XCNWG
E
D
C

9JKNGVJGXCNWGU OGVJQFECPDGWUGFVQKVGTCVGQXGTQPN[VJGXCNWGUCUYQWNFDGGZRGEVGF

HQTMG[XCNWGKPFXCNWGU 
RTKPV MG[XCNWG




2[VJQPZ9HUVLRQc

+GTGVJGOGVJQFUMG[U XCNWGU CPFKVGOU TGVWTPNKUVUCPFVJGTGCTGVJGVJTGGGZVTCOGVJQFUKVGTMG[U


KVGTXCNWGU CPFKVGTKVGOU VQTGVWTPKVGTCVQTU

" 1&,+>FMAI& 1&,+/64&1%!"#2)13)2"0


$XCKNCDNGKPVJGUVCPFCTFNKDTCT[CUFGHCWNVFKEV

HTQOEQNNGEVKQPUKORQTVFGHCWNVFKEV

FFGHCWNVFKEV KPV
F= MG[ ?
F= MG[ ?
F= MG[ ?

FFGHCWNVFKEV NCODFC GORV[


F= MG[ ? GORV[
F= MG[ ? HWNN
F= MG[ ? HWNN

= ?$NVGTPCVKXGN[KH[QWOWUVWUGVJGDWKNVKPFKEVENCUUWUKPIFKEVUGVFGHCWNV YKNNCNNQY[QWVQETGCVGCFGHCWNV
YJGPGXGT[QWCEEGUUCMG[VJCVFKFPQVGZKUVDGHQTG

F]_
]_
FUGVFGHCWNV #PQVJGTAMG[ =? CRRGPF 6JKUYQTMGFb
F

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 >>=


] #PQVJGTAMG[ = 6JKUYQTMGFb ?_

-GGRKPOKPFVJCVKH[QWJCXGOCP[XCNWGUVQCFFFKEVUGVFGHCWNV YKNNETGCVGCPGYKPUVCPEGQHVJGKPKVKCNXCNWG
KPVJKUGZCORNGC=? GXGT[VKOGKV UECNNGFYJKEJOC[ETGCVGWPPGEGUUCT[YQTMNQCFU

= ?2[VJQP&QQMDQQMTFGFKVKQPD['CXKF%GC\NG[CPF%TKCP-,QPGU 1’4GKNN[ &QR[TKIJV'CXKF%GC\NG[CPF%TKCP


,QPGU

" 1&,+>FMBI"/$&+$!& 1&,+/&"0


&QPUKFGTVJGHQNNQYKPIFKEVKQPCTKGU

HKUJ] PCOG 0GOQ JCPFU HKPU URGEKCN IKNNU_


FQI] PCOG %NKHHQTF JCPFU RCYU EQNQT TGF_

2[VJQP
HKUJFQI] HKUJ FQI_
HKUJFQI
] JCPFU  RCYU  EQNQT  TGF  PCOG  %NKHHQTF  URGEKCN  IKNNU _

$UVJKUGZCORNGFGOQPUVTCVGUFWRNKECVGMG[UOCRVQVJGKTNCVVGTOQUVXCNWG HQTGZCORNG&NKlQTFQXGTTKFGU
0GOQ 

2[VJQP
HTQOEQNNGEVKQPUKORQTV%JCKP/CR
FKEV %JCKP/CR HKUJFQI
] JCPFU  HKPU  EQNQT  TGF  URGEKCN  IKNNU  PCOG  0GOQ _

9KVJVJKUVGEJPKSWGVJGHQTGOQUVXCNWGVCMGURTGEGFGPEGHQTCIKXGPMG[TCVJGTVJCPVJGNCUV &NKlQTFKUVJTQYP
QWVKPHCXQTQH0GOQ 

2[VJQPZZ
HTQOKVGTVQQNUKORQTVEJCKP
FKEV EJCKP HKUJKVGOU FQIKVGOU
] JCPFU  RCYU  EQNQT  TGF  PCOG  %NKHHQTF  URGEKCN  IKNNU _

6JKUWUGUVJGNCVVGTOQUVXCNWGCUYKVJVJG DCUGFVGEJPKSWGHQTOGTIKPI &NKlQTFQXGTTKFGU0GOQ 

HKUJWRFCVG FQI
HKUJ
] EQNQT  TGF  JCPFU  RCYU  PCOG  %NKHHQTF  URGEKCN  IKNNU _

FKEVWRFCVGWUGUVJGNCVVGTFKEVVQQXGTYTKVGVJGRTGXKQWUQPG

" 1&,+>FMCI "00&+$("60+!3)2"0


9JGPYQTMKPIYKVJFKEVKQPCTKGUKV UQHVGPPGEGUUCT[VQCEEGUUCNNVJGMG[UCPFXCNWGUKPVJGFKEVKQPCT[GKVJGTKPC
HQTNQQRCNKUVEQORTGJGPUKQPQTLWUVCUCRNCKPNKUV

*KXGPCFKEVKQPCT[NKMG

O[FKEV]
 C   

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 >>>


 D  
_

;QWECPIGVCNKUVQHMG[UWUKPIVJGMG[U OGVJQF

RTKPV O[FKEVMG[U
2[VJQP= C  D ?
2[VJQPFKEVAMG[U = D  C ?

mHKPUVGCF[QWYCPVCNKUVQHXCNWGUWUGVJGXCNWGU OGVJQF

RTKPV O[FKEVXCNWGU
2[VJQP=    ?
2[VJQPFKEVAXCNWGU =    ?

mH[QWYCPVVQYQTMYKVJDQVJVJGMG[CPFKVUEQTTGURQPFKPIXCNWG[QWECPWUGVJGKVGOU OGVJQF

RTKPV O[FKEVKVGOU
2[VJQP= C    D   ?
2[VJQPFKEVAKVGOU = D    C   ?

016(%GECWUGCFKEVKUWPUQTVGFMG[U XCNWGU CPFKVGOU JCXGPQUQTVQTFGT7UGUQTV UQTVGF QTCP


1TFGTGF&KEVKH[QWECTGCDQWVVJGQTFGTVJCVVJGUGOGVJQFUTGVWTP

2[VJQP'KdGTGPEGmP2[VJQPVJGUGOGVJQFUTGVWTPURGEKCNKVGTCDNGQDLGEVUPQVNKUVUCPFCTGVJGGSWKXCNGPV
QHVJG2[VJQPKVGTMG[U KVGTXCNWGU CPFKVGTKVGOU OGVJQFU6JGUGQDLGEVUECPDGWUGFNKMGNKUVUHQTVJG
OQUVRCTVVJQWIJVJGTGCTGUQOGFKlGTGPEGU5GG2(2HQTOQTGFGVCKNU

" 1&,+>FMDI "00&+$3)2"0,#!& 1&,+/6


FKEVKQPCT[]*GNNQ9QTNF_
RTKPV FKEVKQPCT[=*GNNQ?

6JGCDQXGEQFGYKNNRTKPV

6JGUVTKPI*GNNQKPVJKUGZCORNGKUECNNGFCMG[mVKUWUGFVQNQQMWRCXCNWGKPVJGFKEVD[RNCEKPIVJGMG[KP
USWCTGDTCEMGVU

6JGPWODGTKUUGGPCHVGTVJGTGURGEVKXGEQNQPKPVJGFKEVFGhPKVKQP6JKUKUECNNGFVJGXCNWGVJCV*GNNQOCRU
VQKPVJKUFKEV

.QQMKPIWRCXCNWGNKMGVJKUYKVJCMG[VJCVFQGUPQVGZKUVYKNNTCKUGC-G['TTQTGZEGRVKQPJCNVKPIGZGEWVKQPKH
WPECWIJVmHYGYCPVVQCEEGUUCXCNWGYKVJQWVTKUMKPIC-G['TTQTYGECPWUGVJGFKEVKQPCT[IGVOGVJQF%[
FGHCWNVKHVJGMG[FQGUPQVGZKUVVJGOGVJQFYKNNTGVWTP0QPG9GECPRCUUKVCUGEQPFXCNWGVQTGVWTPKPUVGCFQH
0QPGKPVJGGXGPVQHCHCKNGFNQQMWR

YFKEVKQPCT[IGV YJCVGXGT
ZFKEVKQPCT[IGV YJCVGXGTPWJWJ

mPVJKUGZCORNGYYKNNIGVVJGXCNWG0QPGCPFZYKNNIGVVJGXCNWGPWJWJ

" 1&,+>FMEI/"1&+$!& 1&,+/6


4WNGUHQTETGCVKPICFKEVKQPCT[

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 >>?


(XGT[MG[OWUVDGWPKSWG QVJGTYKUGKVYKNNDGQXGTTKFFGP
(XGT[MG[OWUVDGJCUJCDNG ECPWUGVJGJCUJHWPEVKQPVQJCUJKVQVJGTYKUG6[RG'TTQTYKNNDGVJTQYP
6JGTGKUPQRCTVKEWNCTQTFGTHQTVJGMG[U

%TGCVKPICPFRQRWNCVKPIKVYKVJXCNWGU
UVQEM] GIIU  OKNM _

1TETGCVKPICPGORV[FKEVKQPCT[
FKEVKQPCT[]_

#PFRQRWNCVKPIKVCHVGT
FKEVKQPCT[= GIIU ?
FKEVKQPCT[= OKNM ?

8CNWGUECPCNUQDGNKUVU
O[FKEV] C =? D = QPG  VYQ  VJTGG ?_

7UGNKUVCRRGPF OGVJQFVQCFFPGYGNGOGPVUVQVJGXCNWGUNKUV
O[FKEV= C ?CRRGPF   ] C =? D = QPG  VYQ  VJTGG ?_
O[FKEV= D ?CRRGPF HQWT  ] C =? D = QPG  VYQ  VJTGG  HQWT ?_

9GECPCNUQETGCVGCFKEVKQPCT[WUKPICNKUVQHVYQKVGOUVWRNGU
KVGTCDNG= GIIU   OKNM  ?
FKEVKQPCT[FKEV KVGTCDNGU

1TWUKPIMG[YQTFCTIWOGPV
FKEVKQPCT[FKEV GIIUOKNM

#PQVJGTYC[YKNNDGVQWUGVJGFKEVHTQOMG[U
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6JGQVJGTYC[QHKVGTCVKPICNKUVDCUGFQPVJGKPFGZXCNWG

HQTKKPTCPIG NGP O[ANKUV 


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CNKUV= C  C  C ?
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CNKUV= C  C  C ?
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CNKUV===?=??==?=?=???

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RTKPV CNKUV=?=?=?

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CNKUV=?=?CRRGPF 
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VJKPIU= CPKOCNDGCT  CPKOCNFWEM  RNCPVECEVWU  XGJKENGJCTNG[ >


 XGJKENGURGGFDQCV  XGJKENGUEJQQNDWU ?
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 RNCPV = RNCPV  ECEVWU ?
 XGJKENG = XGJKENG  JCTNG[ 
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 XGJKENG  UEJQQNDWU ?_

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 RNCPV == RNCPV  ECEVWU ??
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" 1&,+?@M?I5*-)"?
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 RGTUQPU  OCP  YQOCP = RGTUQPU  OCP  YQOCP ?
 EQY = EQY ?
 FQI = FQI ?
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VJGFCVCUQTVGFhTUVQPUCOGMG[

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 F = FQI  FQPMG[ ?
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 O = OQPIQQUG  OCNNQQ ?
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 Y = YQODCV ?_

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 F = FQI  FQPMG[ ?
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 O = OWNCVQ  OQPIQQUG  OCNNQQ ?
 RGTUQPU = RGTUQPU  OCP  YQOCP ?
 Y = YQODCV ?_

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FGHHKPFAUQOGVJKPIAUOCNNGTAVJCP PCOGAXCNWGAVWRNG 

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RTKPV %JGEM]_]_ HQTOCV PCOGAXCNWGAVWRNG
TGVWTPPCOGAXCNWGAVWRNG=?
PGZV HKNVGTHCNUG HKPFAUQOGVJKPIAUOCNNGTAVJCPECTAUJQR
2TKPV%JGEM6Q[QVC
1WV 6Q[QVC 

7UKPICPGSWKXCNGPVIGPGTCVQT
ECTAUJQR= 6Q[QVC   TGEVCPIWNCTVKTG   2QTUEJG  ?
IGPGTCVQT ECTHQTECTKPECTAUJQRKHPQVECT=?
PGZV IGPGTCVQT

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%-1"/?DI "-.
" 1&,+?DM>I/$"01+!0*))"01&1"*0&+ ,))" 1&,+
6QhPFVJGNCTIGUVKVGOUKPCEQNNGEVKQPJGCRSOQFWNGJCUCHWPEVKQPECNNGFPNCTIGUVYGRCUUKVVYQCTIWOGPVUVJG
hTUVQPGKUVJGPWODGTQHKVGOUVJCVYGYCPVVQTGVTKGXGVJGUGEQPFQPGKUVJGEQNNGEVKQPPCOG

KORQTVJGCRS

PWODGTU=?
RTKPV JGCRSPNCTIGUV PWODGTU =?

5KOKNCTN[VQhPFVJGUOCNNGUVKVGOUKPCEQNNGEVKQPYGWUGPUOCNNGUVHWPEVKQP

RTKPV JGCRSPUOCNNGUV PWODGTU =?

%QVJPNCTIGUVCPFPUOCNNGUVHWPEVKQPUVCMGCPQRVKQPCNCTIWOGPV MG[RCTCOGVGT HQTEQORNKECVGFFCVC


UVTWEVWTGU6JGHQNNQYKPIGZCORNGUJQYUVJGWUGQHCIGRTQRGTV[VQTGVTKGXGVJGQNFGUVCPFVJG[QWPIGUVRGQRNG
HTQORGQRNGFKEVKQPCT[

RGQRNG=
] HKTUVPCOG  ,QJP  NCUVPCOG  &QG  CIG _
] HKTUVPCOG  ,CPG  NCUVPCOG  &QG  CIG _
] HKTUVPCOG  ,CPKG  NCUVPCOG  &QG  CIG _
] HKTUVPCOG  ,CPG  NCUVPCOG  4QG  CIG _
] HKTUVPCOG  ,QJPP[  NCUVPCOG  &QG  CIG _
] HKTUVPCOG  ,QJP  NCUVPCOG  4QG  CIG _
?

QNFGUVJGCRSPNCTIGUV RGQRNGMG[NCODFCUU= CIG ?


RTKPV QNFGUV
1WVRWV=] HKTUVPCOG  ,QJP  CIG  NCUVPCOG  4QG _] HKTUVPCOG  ,QJP  CIG 
NCUVPCOG  &QG _?

[QWPIGUVJGCRSPUOCNNGUV RGQRNGMG[NCODFCUU= CIG ?


RTKPV [QWPIGUV
1WVRWV=] HKTUVPCOG  ,CPKG  CIG  NCUVPCOG  &QG _] HKTUVPCOG  ,QJPP[  CIG 
NCUVPCOG  &QG _?

" 1&,+?DM?I*))"01&1"*&+ ,))" 1&,+


6JGOQUVKPVGTGUVKPIRTQRGTV[QHCJGCRKUVJCVKVUUOCNNGUVGNGOGPVKUCNYC[UVJGhTUVGNGOGPVJGCR=?

KORQTVJGCRS

PWODGTU=?

JGCRSJGCRKH[ PWODGTU
RTKPV PWODGTU
1WVRWV=?

JGCRSJGCRRQR PWODGTU 


RTKPV PWODGTU
1WVRWV=?

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JGCRSJGCRRQR PWODGTU 
RTKPV PWODGTU
1WVRWV=?

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%-1"/?EI2-)"
$VWRNGKUCPKOOWVCDNGNKUVQHXCNWGU6WRNGUCTGQPGQH2[VJQP UUKORNGUVCPFOQUVEQOOQPEQNNGEVKQPV[RGUCPF
ECPDGETGCVGFYKVJVJGEQOOCQRGTCVQT XCNWG 

" 1&,+?EM>I2-)"
5[PVCEVKECNN[CVWRNGKUCEQOOCUGRCTCVGFNKUVQHXCNWGU

V C  D  E  F  G

$NVJQWIJPQVPGEGUUCT[KVKUEQOOQPVQGPENQUGVWRNGUKPRCTGPVJGUGU

V C  D  E  F  G

&TGCVGCPGORV[VWRNGYKVJRCTGPVJGUGU

V
V[RG V V[RG VWRNG

6QETGCVGCVWRNGYKVJCUKPINGGNGOGPV[QWJCXGVQKPENWFGChPCNEQOOC

V C 
V[RG V V[RG VWRNG

0QVGVJCVCUKPINGXCNWGKPRCTGPVJGUGUKUPQVCVWRNG

V C
V[RG V V[RG UVT

6QETGCVGCUKPINGVQPVWRNGKVKUPGEGUUCT[VQJCXGCVTCKNKPIEQOOC

V C 
V[RG V V[RG VWRNG

0QVGVJCVHQTUKPINGVQPVWRNGUKV UTGEQOOGPFGF UGG2(2QPVTCKNKPIEQOOCU VQWUGRCTGPVJGUGU$NUQPQYJKVG


URCEGCHVGTVJGVTCKNKPIEQOOC UGG2(2QPYJKVGURCEGU

V C  2'2EQORNKCPV
V C VJKUPQVCVKQPKUPQVTGEQOOGPFGFD[2'2
V C  VJKUPQVCVKQPKUPQVTGEQOOGPFGFD[2'2

$PQVJGTYC[VQETGCVGCVWRNGKUVJGDWKNVKPHWPEVKQPVWRNG

VVWRNG NWRKPU
RTKPV V  N  W  R  K  P  U
VVWRNG TCPIG 
RTKPV V  

6JGUGGZCORNGUCTGDCUGFQPOCVGTKCNHTQOVJGDQQM6JKPM2[VJQPD[$NNGP%'QYPG[

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1PGQHVJGOCKPFKlGTGPEGUDGVYGGPNKUVUCPFVWRNGUKP2[VJQPKUVJCVVWRNGUCTGKOOWVCDNGVJCVKUQPGECPPQV
CFFQTOQFKH[KVGOUQPEGVJGVWRNGKUKPKVKCNK\GF)QTGZCORNG

V 
V=?
6TCEGDCEM OQUVTGEGPVECNNNCUV 
(KNGUVFKP NKPGKPOQFWNG
6[RG'TTQT VWRNG QDLGEVFQGUPQVUWRRQTVKVGOCUUKIPOGPV

5KOKNCTN[VWRNGUFQP VJCXGCRRGPFCPFGZVGPFOGVJQFUCUNKUVFQGU7UKPI KURQUUKDNGDWVKVEJCPIGUVJG


DKPFKPIQHVJGXCTKCDNGCPFPQVVJGVWRNGKVUGNH

V 
SV
V  
V

S


%GECTGHWNYJGPRNCEKPIOWVCDNGQDLGEVUUWEJCUNKUVUKPUKFGVWRNGU6JKUOC[NGCFVQXGT[EQPHWUKPIQWVEQOGU
YJGPEJCPIKPIVJGO)QTGZCORNG

V =?
=?
V=? =?

9KNNDQVJTCKUGCPGTTQTCPFEJCPIGVJGEQPVGPVUQHVJGNKUVYKVJKPVJGVWRNG

6[RG'TTQT VWRNG QDLGEVFQGUPQVUWRRQTVKVGOCUUKIPOGPV


V
=?

;QWECPWUGVJG QRGTCVQTVQCRRGPFVQCVWRNGVJKUYQTMUD[ETGCVKPICPGYVWRNGYKVJVJGPGYGNGOGPV[QW
CRRGPFGFCPFCUUKIPKVVQKVUEWTTGPVXCTKCDNGVJGQNFVWRNGKUPQVEJCPIGFDWVTGRNCEGF

6JKUCXQKFUEQPXGTVKPIVQCPFHTQOCNKUVDWVVJKUKUUNQYCPFKUCDCFRTCEVKEGGURGEKCNN[KH[QW TGIQKPIVQCRRGPF
OWNVKRNGVKOGU

" 1&,+?EM@I (&+$+!+- (&+$2-)"0


6WRNGUKP2[VJQPCTGXCNWGUUGRCTCVGFD[EQOOCU(PENQUKPIRCTGPVJGUGUHQTKPRWVVKPIVWRNGUCTGQRVKQPCNUQVJG
VYQCUUKIPOGPVU

CCKUVJGVWRNG 

CPF

C  CKUVJGVWRNG 

CTGGSWKXCNGPV6JGCUUKIPOGPVCKUCNUQECNNGFRCEMKPIDGECWUGKVRCEMUXCNWGUVQIGVJGTKPCVWRNG

0QVGVJCVCQPGXCNWGVWRNGKUCNUQCVWRNG6QVGNN2[VJQPVJCVCXCTKCDNGKUCVWRNGCPFPQVCUKPINGXCNWG[QWECPWUG

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CVTCKNKPIEQOOC

CCKUVJGXCNWG
CCKUVJGVWRNG 

$EQOOCKUPGGFGFCNUQKH[QWWUGRCTGPVJGUGU

C  CKUVJGVWRNG 
C  CKUVJGXCNWGCPFPQVCVWRNG

6QWPRCEMXCNWGUHTQOCVWRNGCPFFQOWNVKRNGCUUKIPOGPVUWUG

WPRCEMKPI#-#OWNVKRNGCUUKIPOGPV
Z[\ 
Z
[
\

6JGU[ODQNAECPDGWUGFCUCFKURQUCDNGXCTKCDNGPCOGKHQPGQPN[PGGFUUQOGGNGOGPVUQHCVWRNGCEVKPICUC
RNCEGJQNFGT

C
AZ[AC
Z
[

5KPINGGNGOGPVVWRNGU

ZZKUVJGXCNWG
ZZKUVJGVWRNG 

mP2[VJQPCVCTIGVXCTKCDNGYKVJC RTGhZECPDGWUGFCUCECVEJCNNXCTKCDNG UGG7PRCEMKPImVGTCDNGU 

2[VJQPZ9HUVLRQc
HKTUV OQTGNCUV 
HKTUV
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NCUV

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6WRNGUUWRRQTVVJGHQNNQYKPIDWKNFKPHWPEVKQPU

&QORCTKUQP

mHGNGOGPVUCTGQHVJGUCOGV[RGR[VJQPRGTHQTOUVJGEQORCTKUQPCPFTGVWTPUVJGTGUWNVmHGNGOGPVUCTGFKlGTGPV
V[RGUKVEJGEMUYJGVJGTVJG[CTGPWODGTU

mHPWODGTURGTHQTOEQORCTKUQP
mHGKVJGTGNGOGPVKUCPWODGTVJGPVJGQVJGTGNGOGPVKUTGVWTPGF
1VJGTYKUGV[RGUCTGUQTVGFCNRJCDGVKECNN[

mHYGTGCEJGFVJGGPFQHQPGQHVJGNKUVUVJGNQPIGTNKUVKUNCTIGTmHDQVJNKUVCTGUCOGKVTGVWTPU

VWRNG C  D  E  F  G
VWRNG     

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VWRNG C  D  E  F  G

EOR VWRNGVWRNG
1WV

EOR VWRNGVWRNG
1WV

EOR VWRNGVWRNG
1WV

6WRNG.GPIVJ

6JGHWPEVKQPNGPTGVWTPUVJGVQVCNNGPIVJQHVJGVWRNG

NGP VWRNG
1WV

/CZQHCVWRNG

6JGHWPEVKQPOCZTGVWTPUKVGOHTQOVJGVWRNGYKVJVJGOCZXCNWG

OCZ VWRNG
1WV G

OCZ VWRNG
1WV 

/KPQHCVWRNG

6JGHWPEVKQPOKPTGVWTPUVJGKVGOHTQOVJGVWRNGYKVJVJGOKPXCNWG

OKP VWRNG
1WV C

OKP VWRNG
1WV 

&QPXGTVCNKUVKPVQVWRNG

6JGDWKNVKPHWPEVKQPVWRNGEQPXGTVUCNKUVKPVQCVWRNG

NKUV=?
VWRNG NKUV
1WV 

6WRNGEQPECVGPCVKQP

7UG VQEQPECVGPCVGVYQVWRNGU

VWRNG VWRNG
1WV C  D  E  F  G      

" 1&,+?EMBI2-)"/")"*"+1Z4&0" 0%)"+!.21)"


JCUJ    QM
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6JWUCVWRNGECPDGRWVKPUKFGCUGVQTCUCMG[KPCFKEVQPN[KHGCEJQHKVUGNGOGPVUECP

]  _QM

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] =?]JGNNQ_  PQVQM

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Z 
Z=?
Z=?
Z=?
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mPFGZKPIYKVJPGICVKXGPWODGTUYKNNUVCTVHTQOVJGNCUVGNGOGPVCU

Z=?
Z=?
Z=?
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mPFGZKPICTCPIGQHGNGOGPVU

RTKPV Z=?  


RTKPV Z=?  
RTKPV Z=?  

" 1&,+?EMDI"3"/0&+$)"*"+10
4GXGTUGGNGOGPVUYKVJKPCVWRNG

EQNQTUTGFITGGPDNWG
TGXEQNQTU=?
TGX DNWGITGGPTGF
EQNQTUTGX
EQNQTU DNWGITGGPTGF

1TWUKPITGXGTUGF TGXGTUGFIKXGUCPKVGTCDNGYJKEJKUEQPXGTVGFVQCVWRNG 

TGXVWRNG TGXGTUGF EQNQTU


TGX DNWGITGGPTGF
EQNQTUTGX
EQNQTU DNWGITGGPTGF

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%-1"/?FI0&  +-21+!21-21
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mP2[VJQPRTKPVHWPEVKQPCNKV[KUKPVJGHQTOQHCHWPEVKQP

RTKPV 6JKUUVTKPIYKNNDGFKURNC[GFKPVJGQWVRWV
6JKUUVTKPIYKNNDGFKURNC[GFKPVJGQWVRWV

RTKPV ;QWECPRTKPV>PGUECRGEJCTCEVGTUVQQ
;QWECPRTKPVGUECRGEJCTCEVGTUVQQ

2[VJQPZ9HUVLRQc

mP2[VJQPRTKPVYCUQTKIKPCNN[CUVCVGOGPVCUUJQYPDGNQY

RTKPV6JKUUVTKPIYKNNDGFKURNC[GFKPVJGQWVRWV
6JKUUVTKPIYKNNDGFKURNC[GFKPVJGQWVRWV

RTKPV;QWECPRTKPV>PGUECRGEJCTCEVGTUVQQ
;QWECPRTKPVGUECRGEJCTCEVGTUVQQ

0QVGWUKPIHTQOAAHWVWTGAAKORQTVRTKPVAHWPEVKQPKP2[VJQPYKNNCNNQYWUGTUVQWUGVJGRTKPV HWPEVKQPVJG
UCOGCU2[VJQPEQFG6JKUKUQPN[CXCKNCDNGKP2[VJQPCPFCDQXG

" 1&,+?FM?I +-21#/,* &)"


mPRWVECPCNUQDGTGCFHTQOhNGU)KNGUECPDGQRGPGFWUKPIVJGDWKNVKPHWPEVKQPQRGP7UKPICYKVJEQOOCPF CU
PCOG U[PVCZ ECNNGFC &QPVGZV/CPCIGT OCMGUWUKPIQRGPCPFIGVVKPICJCPFNGHQTVJGhNGUWRGTGCU[

YKVJQRGP UQOGHKNGVZV  T CUHKNGQDL


YTKVGEQFGJGTGWUKPIHKNGQDL

6JKUGPUWTGUVJCVYJGPEQFGGZGEWVKQPNGCXGUVJGDNQEMVJGhNGKUCWVQOCVKECNN[ENQUGF

)KNGUECPDGQRGPGFKPFKlGTGPVOQFGUmPVJGCDQXGGZCORNGVJGhNGKUQRGPGFCUTGCFQPN[6QQRGPCPGZKUVKPI
hNGHQTTGCFKPIQPN[WUGTmH[QWYCPVVQTGCFVJCVhNGCUD[VGUWUGTD6QCRRGPFFCVCVQCPGZKUVKPIhNGWUGC7UG
YVQETGCVGChNGQTQXGTYTKVGCP[GZKUVKPIhNGUQHVJGUCOGPCOG;QWECPWUGT VQQRGPChNGHQTDQVJTGCFKPICPF
YTKVKPI6JGhTUVCTIWOGPVQHQRGP KUVJGhNGPCOGVJGUGEQPFKUVJGOQFGmHOQFGKUNGHVDNCPMKVYKNNFGHCWNVVQ
T

NGV UETGCVGCPGZCORNGHKNG
YKVJQRGP UJQRRKPINKUVVZV  Y CUHKNGQDL
HKNGQDLYTKVG VQOCVQ>PRCUVC>PICTNKE

YKVJQRGP UJQRRKPINKUVVZV  T CUHKNGQDL


VJKUOGVJQFOCMGUCNKUVYJGTGGCEJNKPG
QHVJGHKNGKUCPGNGOGPVKPVJGNKUV
NKPGUHKNGQDLTGCFNKPGU

RTKPV NKPGU
= VQOCVQ>P  RCUVC>P  ICTNKE ?

YKVJQRGP UJQRRKPINKUVVZV  T CUHKNGQDL

,)& ("/M ,*Z61%,+e,1"0#,//,#"00&,+)0 >CB


JGTGYGTGCFVJGYJQNGEQPVGPVKPVQQPGUVTKPI
EQPVGPVHKNGQDLTGCF
IGVCNKUVQHNKPGULWUVNKMGKPVVJGRTGXKQWUGZCORNG
NKPGUEQPVGPVURNKV >P

RTKPV NKPGU
= VQOCVQ  RCUVC  ICTNKE ?

mHVJGUK\GQHVJGhNGKUVKP[KVKUUCHGVQTGCFVJGYJQNGhNGEQPVGPVUKPVQOGOQT[mHVJGhNGKUXGT[NCTIGKVKUQHVGP
DGVVGTVQTGCFNKPGD[NKPGQTD[EJWPMUCPFRTQEGUUVJGKPRWVKPVJGUCOGNQQR6QFQVJCV

YKVJQRGP UJQRRKPINKUVVZV  T CUHKNGQDL


VJKUOGVJQFTGCFUNKPGD[NKPG
NKPGU=?
HQTNKPGKPHKNGQDL
NKPGUCRRGPF NKPGUVTKR

9JGPTGCFKPIhNGUDGCYCTGQHVJGQRGTCVKPIU[UVGOURGEKhENKPGDTGCMEJCTCEVGTU$NVJQWIJHQTNKPGKP
HKNGQDLCWVQOCVKECNN[UVTKRUVJGOQlKVKUCNYC[UUCHGVQECNNUVTKR QPVJGNKPGUTGCFCUKVKUUJQYPCDQXG

1RGPGFhNGU HKNGQDLKPVJGCDQXGGZCORNGU CNYC[URQKPVVQCURGEKhENQECVKQPKPVJGhNG9JGPVJG[CTGhTUV


QRGPGFVJGhNGJCPFNGRQKPVUVQVJGXGT[DGIKPPKPIQHVJGhNGYJKEJKUVJGRQUKVKQP6JGhNGJCPFNGECPFKURNC[KVU
EWTTGPVRQUKVKQPYKVJVGNN

HKNGQDLQRGP UJQRRKPINKUVVZV  T
RQUHKNGQDLVGNN
RTKPV 9GCTGCVW RQU 9GCTGCV

7RQPTGCFKPICNNVJGEQPVGPVVJGhNGJCPFNGT URQUKVKQPYKNNDGRQKPVGFCVVJGGPFQHVJGhNG

EQPVGPVHKNGQDLTGCF
GPFHKNGQDLVGNN
RTKPV 6JKUHKNGYCUWEJCTCEVGTUNQPI GPF
6JKUHKNGYCUEJCTCEVGTUNQPI
HKNGQDLENQUG

6JGhNGJCPFNGTRQUKVKQPECPDGUGVVQYJCVGXGTKUPGGFGF

HKNGQDLQRGP UJQRRKPINKUVVZV  T
HKNGQDLUGGM 
RQUHKNGQDLVGNN
RTKPV 9GCTGCVEJCTCEVGTW RQU

;QWECPCNUQTGCFCP[NGPIVJHTQOVJGhNGEQPVGPVFWTKPICIKXGPECNN6QFQVJKURCUUCPCTIWOGPVHQTTGCF 
9JGPTGCF KUECNNGFYKVJPQCTIWOGPVKVYKNNTGCFWPVKNVJGGPFQHVJGhNGmH[QWRCUUCPCTIWOGPVKVYKNNTGCFVJCV
PWODGTQHD[VGUQTEJCTCEVGTUFGRGPFKPIQPVJGOQFG TDCPFTTGURGEVKXGN[ 

TGCFUVJGPGZVEJCTCEVGTU
UVCTVKPICVVJGEWTTGPVRQUKVKQP
PGZVHKNGQDLTGCF 
YJCVYGIQV!
RTKPV PGZV  EWEW
YJGTGYGCTGPQY!
RQUHKNGQDLVGNN
RTKPV 9GCTGCVW RQU 9GCTGCVCUYGYCUCVCPFTGCFEJCTU

HKNGQDLENQUG

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6QFGOQPUVTCVGVJGFKlGTGPEGDGVYGGPEJCTCEVGTUCPFD[VGU

YKVJQRGP UJQRRKPINKUVVZV  T CUHKNGQDL


RTKPV V[RG HKNGQDLTGCF ENCUU UVT

YKVJQRGP UJQRRKPINKUVVZV  TD CUHKNGQDL


RTKPV V[RG HKNGQDLTGCF ENCUU D[VGU

" 1&,+?FM@I"!#/,*01!&+
2[VJQPRTQITCOUECPTGCFHTQOWPKZRKRGNKPGU+GTGKUCUKORNGGZCORNGJQYVQTGCFHTQOUVFKP

KORQTVU[U

HQTNKPGKPU[UUVFKP
RTKPV NKPG

%GCYCTGVJCVU[UUVFKPKUCUVTGCOmVOGCPUVJCVVJGHQTNQQRYKNNQPN[VGTOKPCVGYJGPVJGUVTGCOJCUGPFGF

;QWECPPQYRKRGVJGQWVRWVQHCPQVJGTRTQITCOKPVQ[QWTR[VJQPRTQITCOCUHQNNQYU

ECVO[HKNG^R[VJQPO[RTQITCOR[

mPVJKUGZCORNGECVO[HKNGECPDGCP[WPKZEQOOCPFVJCVQWVRWVUVQUVFQWV

$NVGTPCVKXGN[WUKPIVJGhNGKPRWVOQFWNGECPEQOGKPJCPF[

KORQTVHKNGKPRWV
HQTNKPGKPHKNGKPRWVKPRWV 
RTQEGUU NKPG

" 1&,+?FMAI0&+$&+-21XY+!/4S&+-21XY
2[VJQPZ9HUVLRQc

TCYAKPRWVYKNNYCKVHQTVJGWUGTVQGPVGTVGZVCPFVJGPTGVWTPVJGTGUWNVCUCUVTKPI

HQQTCYAKPRWV 2WVCOGUUCIGJGTGVJCVCUMUVJGWUGTHQTKPRWV

mPVJGCDQXGGZCORNGHQQYKNNUVQTGYJCVGXGTKPRWVVJGWUGTRTQXKFGU

2[VJQPZ9HUVLRQc

KPRWVYKNNYCKVHQTVJGWUGTVQGPVGTVGZVCPFVJGPTGVWTPVJGTGUWNVCUCUVTKPI

HQQKPRWV 2WVCOGUUCIGJGTGVJCVCUMUVJGWUGTHQTKPRWV

mPVJGCDQXGGZCORNGHQQYKNNUVQTGYJCVGXGTKPRWVVJGWUGTRTQXKFGU

" 1&,+?FMBI 2+ 1&,+1,-/,*-120"/#,/+2*"/


FGHKPRWVAPWODGT OUIGTTAOUI0QPG 
YJKNG6TWG
VT[

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TGVWTPHNQCV TCYAKPRWV OUI
GZEGRV8CNWG'TTQT
KHGTTAOUIKUPQV0QPG
RTKPV GTTAOUI

FGHKPRWVAPWODGT OUIGTTAOUI0QPG 
YJKNG6TWG
VT[
TGVWTPHNQCV KPRWV OUI
GZEGRV8CNWG'TTQT
KHGTTAOUIKUPQV0QPG
RTKPV GTTAOUI

$PFVQWUGKV

WUGTAPWODGTKPRWVAPWODGT KPRWVCPWODGTVJCV UPQVCPWODGTb

1TKH[QWFQPQVYCPVCPGTTQTOGUUCIG

WUGTAPWODGTKPRWVAPWODGT KPRWVCPWODGT

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2[VJQPZ9HUVLRQc

mP2[VJQPZVQEQPVKPWGCNKPGYKVJRTKPVGPFVJGRTKPVUVCVGOGPVYKVJCEQOOCmVYKNNCWVQOCVKECNN[CFFC
URCEG

RTKPV*GNNQ
RTKPV9QTNFb
*GNNQ9QTNFb

2[VJQPZ9HUVLRQc

mP2[VJQPZVJGRTKPVHWPEVKQPJCUCPQRVKQPCNGPFRCTCOGVGTVJCVKUYJCVKVRTKPVUCVVJGGPFQHVJGIKXGPUVTKPI
%[FGHCWNVKV UCPGYNKPGEJCTCEVGTUQGSWKXCNGPVVQVJKU

RTKPV *GNNQGPF>P
RTKPV 9QTNFb
*GNNQ
9QTNFb

%WV[QWEQWNFRCUUKPQVJGTUVTKPIU

RTKPV *GNNQGPF
RTKPV 9QTNFb
*GNNQ9QTNFb

RTKPV *GNNQGPFDT 
RTKPV 9QTNFb
*GNNQDT 9QTNFb

RTKPV *GNNQGPF$4'#-
RTKPV 9QTNFb
*GNNQ$4'#-9QTNFb

mH[QWYCPVOQTGEQPVTQNQXGTVJGQWVRWV[QWECPWUGU[UUVFQWVYTKVG

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KORQTVU[U

U[UUVFQWVYTKVG *GNNQ
U[UUVFQWVYTKVG 9QTNFb
*GNNQ9QTNFb

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 I61%,+#,/1
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b0"61%,+#,/1 &"+ "+! %&+""/+&+$


b0"-/(#,/&$1+)60&0
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b"/+1,20"2*6#,/2*"/& )1
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1 %,!6b
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2CTCOGVGT 'GVCKNU
hNGPCOG VJGRCVJVQ[QWThNGQTKHVJGhNGKUKPVJGYQTMKPIFKTGEVQT[VJGhNGPCOGQH[QWThNG
CEEGUUAOQFG CUVTKPIXCNWGVJCVFGVGTOKPGUJQYVJGhNGKUQRGPGF
DWlGTKPI CPKPVGIGTXCNWGWUGFHQTQRVKQPCNNKPGDWlGTKPI

9JGPKVEQOGUVQUVQTKPITGCFKPIQTEQOOWPKECVKPIFCVCYQTMKPIYKVJVJGhNGUQHCPQRGTCVKPIU[UVGOKUDQVJ
PGEGUUCT[CPFGCU[YKVJ2[VJQP7PNKMGQVJGTNCPIWCIGUYJGTGhNGKPRWVCPFQWVRWVTGSWKTGUEQORNGZTGCFKPICPF
YTKVKPIQDLGEVU2[VJQPUKORNKhGUVJGRTQEGUUQPN[PGGFKPIEQOOCPFUVQQRGPTGCFYTKVGCPFENQUGVJGhNG6JKU
VQRKEGZRNCKPUJQY2[VJQPECPKPVGTHCEGYKVJhNGUQPVJGQRGTCVKPIU[UVGO

" 1&,+@=M>I &)"*,!"0


6JGTGCTGFKlGTGPVOQFGU[QWECPQRGPChNGYKVJURGEKhGFD[VJGOQFGRCTCOGVGT6JGUGKPENWFG

T TGCFKPIOQFG6JGFGHCWNVmVCNNQYU[QWQPN[VQTGCFVJGhNGPQVVQOQFKH[KV9JGPWUKPIVJKUOQFGVJG
hNGOWUVGZKUV

Y YTKVKPIOQFGmVYKNNETGCVGCPGYhNGKHKVFQGUPQVGZKUVQVJGTYKUGYKNNGTCUGVJGhNGCPFCNNQY[QWVQ
YTKVGVQKV

C CRRGPFOQFGmVYKNNYTKVGFCVCVQVJGGPFQHVJGhNGmVFQGUPQVGTCUGVJGhNGCPFVJGhNGOWUVGZKUVHQT
VJKUOQFG

TD TGCFKPIOQFGKPDKPCT[6JKUKUUKOKNCTVQTGZEGRVVJCVVJGTGCFKPIKUHQTEGFKPDKPCT[OQFG6JKUKU
CNUQCFGHCWNVEJQKEG

T TGCFKPIOQFGRNWUYTKVKPIOQFGCVVJGUCOGVKOG6JKUCNNQYU[QWVQTGCFCPFYTKVGKPVQhNGUCVVJG
UCOGVKOGYKVJQWVJCXKPIVQWUGTCPFY

TD TGCFKPICPFYTKVKPIOQFGKPDKPCT[6JGUCOGCUT GZEGRVVJGFCVCKUKPDKPCT[

YD YTKVKPIOQFGKPDKPCT[6JGUCOGCUYGZEGRVVJGFCVCKUKPDKPCT[

Y YTKVKPICPFTGCFKPIOQFG6JGGZCEVUCOGCUT DWVKHVJGhNGFQGUPQVGZKUVCPGYQPGKUOCFG
1VJGTYKUGVJGhNGKUQXGTYTKVVGP

YD YTKVKPICPFTGCFKPIOQFGKPDKPCT[OQFG6JGUCOGCUY DWVVJGFCVCKUKPDKPCT[

CD CRRGPFKPIKPDKPCT[OQFG5KOKNCTVQCGZEGRVVJCVVJGFCVCKUKPDKPCT[

C CRRGPFKPICPFTGCFKPIOQFG5KOKNCTVQY CUKVYKNNETGCVGCPGYhNGKHVJGhNGFQGUPQVGZKUV
1VJGTYKUGVJGhNGRQKPVGTKUCVVJGGPFQHVJGhNGKHKVGZKUVU

CD CRRGPFKPICPFTGCFKPIOQFGKPDKPCT[6JGUCOGCUC GZEGRVVJCVVJGFCVCKUKPDKPCT[

YKVJQRGP HKNGPCOG T CUH


HTGCF
YKVJQRGP HKNGPCOG Y CUH
HYTKVG HKNGFCVC
YKVJQRGP HKNGPCOG C CUH
HYTKVG >>P  PGYFCVC

T T Y Y C C
4GCF ✔ ✔ ✘ ✔ ✘ ✔

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9TKVG ✘ ✔ ✔ ✔ ✔ ✔
&TGCVGUhNG ✘ ✘ ✔ ✔ ✔ ✔
(TCUGUhNG ✘ ✘ ✔ ✔ ✘ ✘
mPKVKCNRQUKVKQP 5VCTV 5VCTV 5VCTV 5VCTV (PF (PF

2[VJQPCFFGFCPGYOQFGHQTGZENWUKXGETGCVKQPUQVJCV[QWYKNNPQVCEEKFGPVCNN[VTWPECVGQTQXGTYTKVGCPF
GZKUVKPIhNG

Z QRGPHQTGZENWUKXGETGCVKQPYKNNTCKUG(KNG'ZKUVU'TTQTKHVJGhNGCNTGCF[GZKUVU
ZD QRGPHQTGZENWUKXGETGCVKQPYTKVKPIOQFGKPDKPCT[6JGUCOGCUZGZEGRVVJGFCVCKUKPDKPCT[
Z TGCFKPICPFYTKVKPIOQFG5KOKNCTVQY CUKVYKNNETGCVGCPGYhNGKHVJGhNGFQGUPQVGZKUV1VJGTYKUG
YKNNTCKUG(KNG'ZKUVU'TTQT
ZD YTKVKPICPFTGCFKPIOQFG6JGGZCEVUCOGCUZ DWVVJGFCVCKUDKPCT[

Z Z
4GCF ✘ ✔
9TKVG ✔ ✔
&TGCVGUhNG ✔ ✔
(TCUGUhNG ✘ ✘
mPKVKCNRQUKVKQP 5VCTV 5VCTV

$NNQYQPGVQYTKVG[QWThNGQRGPEQFGKPCOQTGR[VJQPKEOCPPGT

2[VJQPZ9HUVLRQc
VT[
YKVJQRGP HPCOGT CUHQWV
9QTMYKVJ[QWTQRGPHKNG
GZEGRV(KNG'ZKUVU'TTQT
;QWTGTTQTJCPFNKPIIQGUJGTG

mP2[VJQP[QWYQWNFJCXGFQPGUQOGVJKPINKMG

2[VJQPZ9HUVLRQc
KORQTVQURCVJ
KHQURCVJKUHKNG HPCOG 
YKVJQRGP HPCOGY CUHQWV
9QTMYKVJ[QWTQRGPHKNG
GNUG
;QWTGTTQTJCPFNKPIIQGUJGTG

" 1&,+@=M?I"!&+$;)")&+"Z6Z)&+"
6JGUKORNGUVYC[VQKVGTCVGQXGTChNGNKPGD[NKPG

YKVJQRGP O[HKNGVZV  T CUHR


HQTNKPGKPHR
RTKPV NKPG

TGCFNKPG CNNQYUHQTOQTGITCPWNCTEQPVTQNQXGTNKPGD[NKPGKVGTCVKQP6JGGZCORNGDGNQYKUGSWKXCNGPVVQVJGQPG
CDQXG

YKVJQRGP O[HKNGVZV  T CUHR


YJKNG6TWG
EWTANKPGHRTGCFNKPG

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+HVJGTGUWNVKUCPGORV[UVTKPI
KHEWTANKPG 
9GJCXGTGCEJGFVJGGPFQHVJGHKNG
DTGCM
RTKPV EWTANKPG

7UKPIVJGHQTNQQRKVGTCVQTCPFTGCFNKPG VQIGVJGTKUEQPUKFGTGFDCFRTCEVKEG

/QTGEQOOQPN[VJGTGCFNKPGU OGVJQFKUWUGFVQUVQTGCPKVGTCDNGEQNNGEVKQPQHVJGhNG UNKPGU

YKVJQRGP O[HKNGVZVT CUHR


NKPGUHRTGCFNKPGU
HQTKKPTCPIG NGP NKPGU 
RTKPV .KPG UVT K   NKPG

6JKUYQWNFRTKPVVJGHQNNQYKPI

.KPGJGNNQ

.KPGYQTNF

" 1&,+@=M@I 1"/1";)"0X/" 2/0&3")6Y


6QKVGTCVGCNNhNGUKPENWFKPIKPUWDFKTGEVQTKGUWUGQUYCNM

KORQTVQU
HQTTQQVHQNFGTUHKNGUKPQUYCNM TQQVAFKT 
HQTHKNGPCOGKPHKNGU
RTKPVTQQVHKNGPCOG

TQQVAFKTECPDGVQUVCTVHTQOEWTTGPVFKTGEVQT[QTCP[QVJGTRCVJVQUVCTVHTQO

2[VJQPZ9HUVLRQc

mH[QWCNUQYKUJVQIGVKPHQTOCVKQPCDQWVVJGhNG[QWOC[WUGVJGOQTGGjEKGPVOGVJQFQUUECPFKTNKMGUQ

HQTGPVT[KPQUUECPFKT RCVJ 
KHPQVGPVT[PCOGUVCTVUYKVJ  CPFGPVT[KUAHKNG 
RTKPV GPVT[PCOG

" 1&,+@=MAI "11&+$1%"#2)) ,+1"+10,#;)"


6JGRTGHGTTGFOGVJQFQHhNGKQKUVQWUGVJGYKVJMG[YQTF6JKUYKNNGPUWTGVJGhNGJCPFNGKUENQUGFQPEGVJG
TGCFKPIQTYTKVKPIJCUDGGPEQORNGVGF

YKVJQRGP O[HKNGVZV CUKPAHKNG


EQPVGPVKPAHKNGTGCF

RTKPV EQPVGPV

QTVQJCPFNGENQUKPIVJGhNGOCPWCNN[[QWECPHQTIQYKVJCPFUKORN[ECNNENQUG[QWTUGNH

KPAHKNGQRGP O[HKNGVZV  T
EQPVGPVKPAHKNGTGCF
RTKPV EQPVGPV

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KPAHKNGENQUG

-GGRKPOKPFVJCVYKVJQWVWUKPICYKVJUVCVGOGPV[QWOKIJVCEEKFGPVCNN[MGGRVJGhNGQRGPKPECUGCPWPGZRGEVGF
GZEGRVKQPCTKUGUNKMGUQ

KPAHKNGQRGP O[HKNGVZV  T
TCKUG'ZEGRVKQP QQRU
KPAHKNGENQUG 6JKUYKNNPGXGTDGECNNGF

" 1&,+@=MBI/&1&+$1,;)"
YKVJQRGP O[HKNGVZV  Y CUH
HYTKVG .KPG
HYTKVG .KPG
HYTKVG .KPG
HYTKVG .KPG

mH[QWQRGPO[HKNGVZV[QWYKNNUGGVJCVKVUEQPVGPVUCTG

.KPG.KPG.KPG.KPG

2[VJQPFQGUP VCWVQOCVKECNN[CFFNKPGDTGCMU[QWPGGFVQFQVJCVOCPWCNN[

YKVJQRGP O[HKNGVZV  Y CUH


HYTKVG .KPG>P
HYTKVG .KPG>P
HYTKVG .KPG>P
HYTKVG .KPG>P

.KPG
.KPG
.KPG
.KPG

'QPQVWUGQUNKPGUGRCUCNKPGVGTOKPCVQTYJGPYTKVKPIhNGUQRGPGFKPVGZVOQFG VJGFGHCWNV WUG>PKPUVGCF

mH[QWYCPVVQURGEKH[CPGPEQFKPI[QWUKORN[CFFVJGGPEQFKPIRCTCOGVGTVQVJGQRGPHWPEVKQP

YKVJQRGP O[AHKNGVZV  Y GPEQFKPI WVH CUH


HYTKVG WVHVGZV

mVKUCNUQRQUUKDNGVQWUGVJGRTKPVUVCVGOGPVVQYTKVGVQChNG6JGOGEJCPKEUCTGFKlGTGPVKP2[VJQPXU2[VJQP
DWVVJGEQPEGRVKUVJGUCOGKPVJCV[QWECPVCMGVJGQWVRWVVJCVYQWNFJCXGIQPGVQVJGUETGGPCPFUGPFKVVQChNG
KPUVGCF

2[VJQPZ9HUVLRQc
YKVJQRGP HTGFVZV  Y CUQWVHKNG
U+ O0QV&GCF;GVb
RTKPV U YTKVGUVQUVFQWV
RTKPV UHKNGQWVHKNG YTKVGUVQQWVHKNG

0QVGKVKURQUUKDNGVQURGEKH[VJGHKNGRCTCOGVGT#0&YTKVGVQVJGUETGGP
D[OCMKPIUWTGHKNGGPFUWRYKVJC0QPGXCNWGGKVJGTFKTGEVN[QTXKCCXCTKCDNG

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O[HKNG0QPG
RTKPV UHKNGO[HKNG YTKVGUVQUVFQWV
RTKPV UHKNG0QPG YTKVGUVQUVFQWV

mP2[VJQP[QWYQWNFJCXGFQPGUQOGVJKPINKMG

2[VJQPZ9HUVLRQc
QWVHKNGQRGP HTGFVZV  Y
U+ O0QV&GCF;GVb
RTKPVUYTKVGUVQUVFQWV
RTKPV QWVHKNGUYTKVGUVQQWVHKNG

7PNKMGWUKPIVJGYTKVGHWPEVKQPVJGRTKPVHWPEVKQPFQGUCWVQOCVKECNN[CFFNKPGDTGCMU

" 1&,+@=MCI%" (4%"1%"/;)",/-1%"5&010


(ORNQ[VJG($)2EQFKPIUV[NGCPFVT[VQQRGPKV

KORQTVGTTPQ

VT[
YKVJQRGP RCVJ CUH
(KNGGZKUVU
GZEGRV+1'TTQTCUG
4CKUGVJGGZEGRVKQPKHKVKUPQV'01'06 0QUWEJHKNGQTFKTGEVQT[
KHGGTTPQbGTTPQ'01'06
TCKUG
0QUWEJHKNGQTFKTGEVQT[

6JKUYKNNCNUQCXQKFTCEGEQPFKVKQPUKHCPQVJGTRTQEGUUFGNGVGFVJGhNGDGVYGGPVJGEJGEMCPFYJGPKVKUWUGF6JKU
TCEGEQPFKVKQPEQWNFJCRRGPKPVJGHQNNQYKPIECUGU

7UKPIVJGQUOQFWNG

KORQTVQU
QURCVJKUHKNG RCVJVQUQOGHKNGVZV

2[VJQPZ9HUVLRQc

7UKPIRCVJNKD

KORQTVRCVJNKD
RCVJRCVJNKD2CVJ RCVJVQUQOGHKNGVZV
KHRCVJKUAHKNG 


6QEJGEMYJGVJGTCIKXGPRCVJGZKUVUQTPQV[QWECPHQNNQYVJGCDQXG($)2RTQEGFWTGQTGZRNKEKVN[EJGEMVJGRCVJ

KORQTVQU
RCVJJQOGO[(KNGUFKTGEVQT[

KHQURCVJGZKUVU RCVJ 
&QUVWHH

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