RugDoctor Mighty PRO X3 User manual

JhZgÉh<j^YZ
( HV[Zin>chigjXi^dch
* 8aZVc^c\8VgeZiVcYJe]dahiZgn
, BV^ciZcVcXZ
- GZeaVXZbZciEVgihIgdjWaZh]ddi^c\
&% LVggVcinVcYEgdYjXiGZ\^higVi^dc
&& Gj\9dXidg8aZVc^c\EgdYjXih
H[jW_d\ehoekhh[YehZi0IdhVkZi^bZ^[
XVaa^c\8jhidbZgHZgk^XZ[dg^c[dgbVi^dcVWdji
ndjgGj\9dXidgBVX]^cZ!^i^hgZXdbbZcYZY
i]VindjgZXdgYndjgbVX]^cZ^c[dgbVi^dc]ZgZ/
HZg^Va^h[djcY^ch^YZbVX]^cZWZ]^cYi]ZgZXdkZgn
iVc`hiVbeZY^cidi]ZWdYnd[i]ZbVX]^cZ#
HZg^Va

'
lVh [djcYZY Wn V egd[Zhh^dcVa XVgeZi XaZVcZg ^c
&.,'l^i]i]ZÒghibVX]^cZh]Vk^c\WZZcYZh^\cZY
VcY Wj^ai [dg egd[Zhh^dcVa jhZ# 6 WgVcY lVh Wdgc
VcYhddcV[iZg!Gj\9dXidgaVjcX]ZYi]ZÒghigZciVa
egd\gVb i]Vi bVYZ egd[Zhh^dcVa"\gVYZ XVgeZi
XaZVc^c\bVX]^cZhVkV^aVWaZidi]ZejWa^X#BdgZi]Vc
(* nZVgh aViZg! Gj\ 9dXidg ]Vh \gdlc id WZXdbZ
V]djhZ]daYcVbZVcYXdci^cjZhVhi]ZaZVYZg ^c
XVgeZiXVgZgZciVahnhiZbhl^i]edlZg[jabVX]^cZh
VcY^ccdkVi^kZegdYjXih#
Gj\9dXidg!>cX#
),%&DaYH]ZeVgYEaVXZ
EaVcd!IZmVh,*%.(
:"bV^a/XdchjbZg#hjeedgi@gj\YdXidg#Xdb
LZWH^iZ/lll#gj\YdXidg#Xdb

(
?CFEHJ7DJI7<;JO?DIJHK9J?EDI
EaZVhZgZVYVaa^chigjXi^dchWZ[dgZjh^c\#L]Zcjh^c\VcZaZXig^XVaVeea^VcXZ!WVh^XegZXVji^dch
h]djaYValVnhWZ[daadlZY!^cXajY^c\i]Z[daadl^c\/
M7HD?D=ÅIdgZYjXZi]Zg^h`d[ÒgZ!ZaZXig^Xh]dX`!dg^c_jgn/
 9dcdiaZVkZVeea^VcXZl]Zceaj\\ZY^c#Jceaj\[gdbdjiaZil]Zccdi^cjhZVcYWZ[dgZhZgk^X^c\#
 IdgZYjXZi]Zg^h`d[ÒgZVcYZaZXig^Xh]dX`YjZid^ciZgcVaXdbedcZciYVbV\Z!jhZdcanGj\9dXidgXaZVc^c\ 
  egdYjXih^ciZcYZY[dgjhZl^i]i]^hVeea^VcXZ#HZZi]Z8aZVc^c\EgdYjXihZXi^dcd[i]^hbVcjVa#
M7HD?D=ÅIdgZYjXZi]Zg^h`d[ZaZXig^Xh]dX`"jhZ^cYddghdcan#
 9dcdiVaadlidWZjhZYVhVidn#8adhZViiZci^dc^hcZXZhhVgnl]ZcjhZYWndgcZVgX]^aYgZc#
 JhZdcanVhYZhXg^WZY^ci]^hbVcjVa#JhZdcanbVcj[VXijgZgÉhgZXdbbZcYZYViiVX]bZcih#
 9dcdijhZl^i]YVbV\ZYXdgYdgeaj\#>[Veea^VcXZ^hcdildg`^c\Vh^ih]djaY!]VhWZZcYgdeeZY!YVbV\ZY!aZ[i 
  djiYddgh!dgYgdeeZY^cidlViZg!gZijgc^iidVhZgk^XZXZciZg#
 9dcdiejaadgXVggnWnXdgY!jhZXdgYVhV]VcYaZ!XadhZVYddgdcXdgY!dgejaaXdgYVgdjcYh]VgeZY\Zhdg 
  XdgcZgh#9dcdigjcVeea^VcXZdkZgXdgY#@ZZeXdgYVlVn[gdb]ZViZYhjg[VXZh#
 9dcdijceaj\Wnejaa^c\dcXdgY#Idjceaj\!\gVhei]Zeaj\!cdii]ZXdgY#
 9dcdi]VcYaZeaj\dgVeea^VcXZl^i]lZi]VcYh#
 9dcdiejiVcndW_ZXi^ciddeZc^c\h#9dcdijhZl^i]VcndeZc^c\WadX`ZY0`ZZe[gZZd[Yjhi!a^ci!]V^g!VcY
  Vcni]^c\i]VibVngZYjXZV^gÓdl#
 @ZZe]V^g!addhZXadi]^c\!Òc\Zgh!VcYVaaeVgihd[WdYnVlVn[gdbdeZc^c\hVcYbdk^c\eVgih#
 Ijgcd[[VaaXdcigdahWZ[dgZjceaj\\^c\#
 JhZZmigVXVgZl]ZcXaZVc^c\dchiV^gh#
 9dcdijhZide^X`jeÓVbbVWaZdgXdbWjhi^WaZa^fj^YhhjX]Vh\Vhda^cZdgjhZ^cVgZVhl]ZgZi]ZnbVnWZegZhZci#
 9dcdijhZide^X`jeVcni]^c\i]Vi^hWjgc^c\dghbd`^c\!hjX]VhX^\VgZiiZh!bViX]Zh!dg]diVh]Zh#
 9dcdijhZl^i]djiÒaiZgh^ceaVXZ#
 8dccZXiidVegdeZgan\gdjcYZYdjiaZidcan#HZZÆ<gdjcY^c\>chigjXi^dch#Ç
 JhZdcandchjg[VXZhbd^hiZcZYWnXaZVc^c\egdXZhhdghbVaahe^aah#9dcdieaVXZbVX]^cZ^chiVcY^c\lViZg
  dgignidXaZVgÓddYZYVgZVh#
 9dcdiXaZVcdkZgÓddgZaZXig^XVadjiaZih#
 9dcdijhZl^i]djijeeZgl]^iZiVc`^ceaVXZ#
 I]ZjhZd[VcZmiZch^dcXdgY^hcdigZXdbbZcYZY#
<W_bkh[je\ebbemj^[\eh[]e_d]_dijhkYj_edicWo[nfei[j^[ki[hje[b[Yjh_Yi^eYa"f[hiedWb_d`khoWdZ%ehZ[Wj^$
I7L;J>;I;?DIJHK9J?EDI
=hekdZ_d]?dijhkYj_edi
I]^hVeea^VcXZbjhiWZ\gdjcYZY#>[^ih]djaYbVa[jcXi^dcdgWgZV`Ydlc!\gdjcY^c\egdk^YZhV
eVi]d[aZVhigZh^hiVcXZ[dgZaZXig^XXjggZciidgZYjXZi]Zg^h`d[ZaZXig^Xh]dX`#I]^hVeea^VcXZ
^hZfj^eeZYl^i]VXdgY]Vk^c\VcZfj^ebZci\gdjcY^c\XdcYjXidgVcY\gdjcY^c\eaj\#I]Z
eaj\bjhiWZ^chZgiZY^cidVcVeegdeg^ViZdjiaZii]Vi^hegdeZgan^chiVaaZYVcY\gdjcYZY^c
VXXdgYVcXZl^i]VaaadXVaXdYZhVcYdgY^cVcXZh#
M7HD?D=
>begdeZgXdccZXi^dcd[Zfj^ebZci"\gdjcY^c\XdcYjXidgXVcgZhjai^cVg^h`d[ZaZXig^Xh]dX`#
8]ZX`l^i]VfjVa^ÒZYZaZXig^X^VcdghZgk^XZeZghdc^[ndjVgZ^cYdjWiVhidl]Zi]Zgi]Z
djiaZi^hegdeZgan\gdjcYZY#9dcdibdY^[ni]Zeaj\egdk^YZYl^i]i]ZVeea^VcXZÅ^[^il^aacdi
Òii]ZdjiaZi!]VkZVegdeZgdjiaZi^chiVaaZYWnVfjVa^ÒZYZaZXig^X^Vc#I]^hVeea^VcXZ^h[dgjhZ
dcVcdb^cVa&'%"kdaiX^gXj^iVcY]VhV\gdjcYZYeaj\i]Viadd`ha^`Zi]Zeaj\^aajhigViZY^c
;^\jgZ6#BV`ZhjgZi]Vii]ZVeea^VcXZ^hXdccZXiZYidVcdjiaZi]Vk^c\i]ZhVbZXdcÒ\jgVi^dc
Vhi]Zeaj\#CdVYVeiZgh]djaYWZjhZYl^i]i]^hVeea^VcXZ#
Grounded Outlet Box
Grounded Outlet
ALCI Reset
Grounding Pin
;^\jgZ6

)
9b[Wd_d]M_j^OekhHk]:eYjehCWY^_d[7dZFheZkYji
GZVYVaa^chigjXi^dchXdbeaZiZanWZ[dgZndjWZ\^c#IdVhhjgZegdeZggZhjaih!iZhiXVgeZihVcY
je]dahiZgn[dgXdadg[VhicZhh#LZiVc^cXdche^XjdjhVgZVl^i]VhbVaaVbdjcid[XaZVcZg#
6[iZg&Ä'b^cjiZh!Wadil^i]Vl]^iZeVeZgidlZaVcYX]ZX`[dgXdadgigVch[Zg#;daadli]ZhZ
VYY^i^dcVa\j^YZa^cZhl]ZcXaZVc^c\l^i]ndjgGj\9dXidgbVX]^cZ/
Gj\9dXidgbVX]^cZhVcYGj\9dXidgXaZVc^c\egdYjXihVgZhV[Z[dgbdhiXVgeZih#=dlZkZg!ndjg^h`YVbV\Z
  idXVgeZihVcY]VgYÓddghjg[VXZhcdi^ciZcYZY[dglViZgZmigVXi^dcbZi]dYXaZVc^c\#:edejki[j^[Hk]:eYjeh
  cWY^_d[ehYb[Wd_d]fheZkYjieddWjkhWbÓX[heh_[djWbhk]ii_baehmeeb"^WdZ#beec[Zmeebhk]i"XhW_Z[Zhk]i"
  i_iWbeh`kj[YWhf[ji1^WhZmeeZehbWc_dWj[Ôeeh_d]$Iec[ijW_dih[gk_h[fhe\[ii_edWbjh[Wjc[dj$Ki[YeebmWj[h
  m^[dYb[Wd_d]meeb"meebXb[dZiehZ[b_YWj[ÓX[hi$
 Gj\9dXidgbVX]^cZhVcYGj\9dXidgXaZVc^c\egdYjXihVgZhV[Z[dgbVcn[VWg^Xh!ZkZcYZa^XViZÒWZgh#=dlZkZg!ndj
  g^h`YVbV\Zid[VWg^Xhcdi^ciZcYZY[dglViZgZmigVXi^dcbZi]dYXaZVc^c\#:edejki[Hk]:eYjehcWY^_d[ieh 
  fheZkYjijeYb[Wd\WXh_Ym_j^Yb[Wd_d]YeZ[iIehN"i_ba">W_j_WdYejjed"l[bekh"Xhki^[ZYehZkheo"b[Wj^[hehded#
  Yebeh\Wij\WXh_Yi"cWjjh[ii[iehcWjjh[iijeff[hicWZ[m_j^c[ceho\eWc"\eWceh]eei[Zemd$Iec[ijW_di
  h[gk_h[fhe\[ii_edWbjh[Wjc[dj$Ki[YeebmWj[hm^[dYb[Wd_d]meeb"meebXb[dZiehZ[b_YWj[ÓX[hi$
 I]ZbVX]^cZlVhYZh^\cZY[dgjhZdcXVgeZiVcYje]dahiZgnVeea^XVi^dch^cVXXdgYVcXZl^i]i]Z^chigjXi^dchVcY
  gZXdbbZcYVi^dch^ci]^hbVcjVa#>[ndjjhZi]ZGj\9dXidgbVX]^cZidXaZVchjg[VXZhdi]Zgi]VcXVgeZiVcY 
  je]dahiZgn!hjX]Vh]VgYhjg[VXZÓddgh!jhZdcanGj\9dXidggZXdbbZcYZYegdYjXih#Gj\9dXidgDmn"HiZVb8VgeZi
  8aZVcZgXVcWZhV[ZanVcYZ[[ZXi^kZanjhZY[dgZ^i]ZgXVgeZi^c\dglViZg"hV[Z]VgYhjg[VXZÓddgXdkZg^c\h#
:eDEJfkjXb[WY^"Zo[ehfheZkYjiej^[hj^WdHk]:eYjehYb[Wd[hi_dj^_icWY^_d[$JhZd[^cVeegdeg^ViZegdYjXih
  bVnXVjhZi]^hbVX]^cZidbVa[jcXi^dcVcYbVngZhjai^cXVgeZidgbVX]^cZYVbV\Z#
 6alVnhjhZ6ci^";dVbl^i]Je]dahiZgn$=VcYIdda8aZVcZgidegZkZciZmXZhhhjYh^c\^ci]ZjeeZggZXdkZgniVc`#
  ;dVbh]djaYcZkZgWZ^c\ZhiZYi]gdj\]i]ZYdbZÒaiZg#9VbV\Zidi]ZXVgeZiVcY$dgkVXjjbbdidgXdjaYgZhjai#
IdGZYjXZi]ZG^h`d[;^gZVcY:aZXig^XH]dX`YjZid^ciZgcVaXdbedcZciYVbV\Z!jhZdcanGj\9dXidg 
  XaZVc^c\egdYjXih^ciZcYZY[dgjhZl^i]i]^hVeea^VcXZ#HZZi]Z8aZVc^c\EgdYjXihZXi^dcd[i]^hbVcjVa#
6ÒcYZgYj^gZaZhg^hfjZhYÉ^cXZcY^ZZiYZYX]Vg\ZaZXig^fjZegdkdfjheVgYZhXdbedhVcih^ciZgcZhZcYdbbV\h!
  ji^a^hZojc^fjZbZciaZhegdYj^ihYZcZiidnV\ZGj\9dXidgXdcjhedjgXZegdYj^i#A^gZaVhZXi^dcXdchVXgZVjm 
  egdYj^ihYZcZiidnV\ZYVchaZeghZcibVcjZa#
6kd^Ye^X`^c\je]VgYdgh]VgedW_ZXihl^i]i]ZXVgeZiXaZVc^c\bVX]^cZ#I]ZnbVnYVbV\Zi]ZbVX]^cZ#9dcdi
  jhZi]ZbVX]^cZ[dgYgnkVXjjb^c\WZXVjhZi]^hbVX]^cZYdZhcdi]VkZVÒcZYjhiÒaiZg#9gnkVXjjb^c\YVbV\Zhi]Z
  kVXjjbbdidg#
9dcdijhZi]ZbVX]^cZidkVXjjbaVg\ZfjVci^i^Zhd[a^fj^Y!hjX]VhVÓddYZYWVhZbZcidgaVg\Zhe^aa#I]^hbVX]^cZ^h
  cdiZfj^eeZYl^i]VcVjidbVi^XdkZgÓdlh]jid[[#
 IdVkd^YYVbV\Z!YdcdieaVXZi]ZbVX]^cZdg]VcYiddadc]VgYlddYdgaVb^cViZÓddg^c\dgVaadlVcnhdaji^dcdg
  dkZghegVnidXdciVXihjX]Óddg^c\#
 IdVkd^YejbeYVbV\Z!YdcdiXdci^cjZidegZhhi]ZhegVnejbehl^iX]l]Zci]Zhdaji^dciVc`^hZbein#

H[WZ_dijhkYj_ediYWh[\kbbo$Hk]:eYjeh"?dY$_idejh[ifedi_Xb[\ehZWcW][Zk[jec_iki[e\j^_icWY^_d[$
9Whf[j9b[Wd_d]J_fi<eh8[ijH[ikbji
IgZVi^c\Y^[ÒXjaihedih#Gj\9dXidgbVX]^cZhVgZYZh^\cZYidYZZeXaZVcVcYZmigVXi^cdcZXaZVc^c\eVhh#NdjgWZhi
  X]d^XZ[dgXaZVc^c\Y^[ÒXjaihedih!hiV^chdgigV[ÒXVgZVh^hidjhZGj\9dXidgÉhheZX^VainegdYjXih/=^"IgV[ÒXEgZ"
  IgZVibZci!HediHiV^cGZbdkZg!Jg^cZ:a^b^cVidg!dgDYdgGZbdkZg#
 6kd^YdkZg"lZii^c\ndjgXVgeZi#9dcÉi\ddkZgV]ZVk^an"hd^aZYhedibdgZi]Vc'i^bZh#7ZgWZg!Bjai^"AZkZadgAddeZY
  XVgeZihgZiV^cbdgZa^fj^Y#;dgi]ZhZineZhd[XVgeZih!:EDEJgZeZViXaZVc^c\eVhhZh#>[VYY^i^dcVaXaZVc^c\^hYZh^gZY!
  VaadlXVgeZihidYgnWZ[dgZViiZbei^c\idgZXaZVc]ZVk^an"hd^aZYVgZVh#7ZXVjhZi]ZngZiV^cbdgZa^fj^Y!7ZgWZgXVgeZih
  i]ViVgZdkZglZiXVcZmeZg^ZcXZÆl^X`jeÇd[hd^ahdghe^aahkZgnYZZeanZbWZYYZY^ci]ZXVgeZidgWVX`^c\#>[ndj
ZmeZg^ZcXZi]^hegdWaZb!VaadlVgZVidYgnXdbeaZiZani]ZcXaZVcV\V^cjh^c\h^c\aZ!fj^X`eVhhZh&"'[ZZieZghZXdcY#
 8aZVc^c\7ZgWZgXVgeZi0NdjXVcjhZndjgGj\9dXidgbVX]^cZidXaZVc7ZgWZgXVgeZi#;dgWZhigZhjaih!bV`Zdcan
  dcZeVhhl]^aZYZegZhh^c\i]Zi]jbWhl^iX]idgZaZVhZhdaji^dc#BV`ZVhZXdcYeVhhdkZgi]ZhVbZVgZVl^i]dji
  egZhh^c\i]Zhl^iX]hdi]VindjVgZdcankVXjjb^c\i]Za^fj^Y#BV`ZhjgZi]ZkVXjjbhadiVii]Z[gdciWdiidbZY\Z
  d[i]ZbVX]^cZ^hhcj\V\V^chii]ZXVgeZi#
 DkZgaVeeVhhZhha^\]ianidXdkZgVaaVgZVh#?CFEHJ7DJ0M^[dfh[ii_d]j^[h[ZXkjjed"a[[fcWY^_d[cel_d]ie
  l_XhWj_d]Xhki^Ze[idejW]_jWj[_ded[fbWY[$
 A^fj^YgZXdkZgn#Ndjh]djaYgZXdkZg,%"-%d[i]Za^fj^YjhZYYZeZcY^c\dcndjgXVgeZiineZ#L^i]7ZgWZgXVgeZi!ndj
  bVngZXdkZgVa^iiaZaZhha^fj^Y#
 6kd^YZmXZhh[dVb^ci]ZgZXdkZgniVc`l]^X]XVcWZZmeZaaZYi]gdj\]i]ZbVX]^cZVcYbVnV[[ZXindjgXVgeZi#>[
  [dVb^c\dXXjgh!VYY&id'do#d[Gj\9dXidg6ci^";dVbidgZXdkZgniVc`#
 >[ndjgZeaVXZ[jgc^ijgZWZ[dgZi]ZXVgeZi^hXdbeaZiZanYgn!eaVXZVajb^cjb[d^ajcYZg[jgc^ijgZaZ\hidegZkZcihiV^ch#
  AZVkZVajb^cjb[d^ajcYZg[jgc^ijgZaZ\hjci^aXVgeZi^hXdbeaZiZanYgn#
 ;dg[VhiZgYgn^c\!kZci^aViZVgZV#DeZcYddghVcYl^cYdlh#EaVXZ[Vched^ciZYYdlclVgYdcXVgeZi#Ijgcdc]ZVi^c
  YVbedgXdaYlZVi]Zg#IjgcdcV^gXdcY^i^dcZg^c]jb^Ydg]dilZVi]Zg#I]^h^h]^\]angZXdbbZcYZYl]ZcXaZVc^c\
  7ZgWZgXVgeZih#


*
8[\eh[Oek8[]_d
GZk^ZlbVX]^cZhV[ZinlVgc^c\h[djcY^c
i]Z[gdcid[i]^hbVcjVa#Jh^c\VcdgbVaYgn
kVXjjbXaZVcZg!kVXjjbi]ZVgZVndjlVci
idXaZVcidgZbdkZaddhZY^giWZ[dgZjh^c\
i]ZGj\9dXidgbVX]^cZ#I]^hl^aa]Zae
`ZZei]ZWgjh]ZhVcYlViZgkVXjjbhnhiZb
ldg`^c\Z[ÒX^Zcian#EgZ"igZViVcnheZX^Va
egdWaZbVgZVhl^i]Veegdeg^ViZGj\9dXidg
hdaji^dch#;dgZmVbeaZ!jhZJg^cZ:a^b^cVidg
dcidj\]eZihiV^chVcYdi]ZgW^d"dg^\^c
hiV^ch#
I[jKf
8]ZX`i]ZWVX`d[i]ZbVX]^cZidZchjgZ
]dhZXdccZXi^dchVgZhZXjgZVcYhZiid
XaZVcXVgeZi^chiZVYd[je]dahiZgn>AAJH#&
A^[ijedci]ZgZXdkZgnaViX]VcYgV^hZYdbZ
]ddY>AAJH#'#GZbdkZi]ZgZXdkZgniVc`#
9ZeZcY^c\dc]dlY^ginndjgXVgeZihVgZ!
VYY'do")do&$)id&$'Xjed[Gj\9dXidg
Dmn"HiZVb8VgeZi8aZVcZgegdYjXieZg
\Vaadcd[]diiVelViZg^cVXaZVcWjX`Zi
>AAJH#(#JhZXVji^dcid^chjgZlViZg^hcdi
hd]diVhidhXVaYdgWjgch`^c#
I]ZadlZgiVc`XVeVX^in[dgi]ZGj\9dXidg
B^\]inEgdM(^h(\Vaadch#;^aai]ZadlZg
iVc`l^i]i]ZGj\9dXidgDmn"HiZVb
8aZVc^c\hdaji^dcWnedjg^c\i]gdj\]i]Z
l]^iZÒaiZghXgZZc#BVX]^cZ^h[jaal]Zc
a^fj^Y]Va[lVnXdkZghi]ZÒaiZghXgZZc
>AAJH#)#>[[dVb^c\dXXjgh!VYY&id'do#
d[Gj\9dXidg6ci^";dVbidgZXdkZgniVc`
>AAJH#*#GZeaVXZgZXdkZgniVc`VcYXadhZ
i]ZYdbZ]ddY>AAJH#'#
Eaj\^ci]ZedlZgXdgYVcYedh^i^dci]Z
bVX]^cZ#GZ[Zgidi]ZaVWZadci]Zh^YZd[
i]Z]VcYaZ#Ha^YZi]Zhl^iX]idi]ZÆ8VgeZiÇ
edh^i^dc[dgXVgeZiXaZVc^c\>AAJH#+#
9b[Wd_d]9Whf[ji
>AAJH#&
>AAJH#'
>AAJH#(
>AAJH#)
>AAJH#*
>AAJH#+
>AAJH#,
>AAJH#-
>AAJH#&%
>AAJH#.
egZhh[dghegVn
idda$%$XVgeZiÆ%Ç^hd[[edh^i^dc
gZhZiWjiidc^hadXViZYWZadl
gZXdkZgnaViX]
YdbZ]ddY
gZXdkZgniVc` adlZgiVc`
kVXjjbhadi
WdiidbZY\Z
d[bVX]^cZ
YdbZÒaiZg
]VcYaZgZaZVhZ
IjWhj9b[Wd_d]
L]^aZYZegZhh^c\i]ZegZhh[dghegVngZYWjiidc
dci]Zided[i]Z]VcYaZ>AAJH#,!ejaai]Z
bVX]^cZhadlanVcYhiZVY^anWVX`lVgY^cV
higV^\]ia^cZ!`ZZe^c\kVXjjbhadiV\V^chii]Z
XVgeZihjg[VXZ#Dca^\]ianhd^aZYXVgeZihndjXVc
ejaai]ZbVX]^cZfj^X`anVidcZ[ddieZghZXdcY#
;dgbdYZgViZan!dg]ZVk^anhd^aZYXVgeZih!ejaa
i]ZbVX]^cZViVeegdm^bViZandcZ[ddiZkZgnild
hZXdcYh#Ndjl^aaWZ\^cidhZZhd^aZYhdaji^dc
ZciZg^c\i]ZXaZVgYdbZ#>[ndjYdcÉi!hideVcY
gZ[Zgidi]ZIgdjWaZh]ddi^c\hZXi^dc#
?CFEHJ7DJ0L]ZcYZegZhh^c\i]ZegZhh[dg
hegVngZYWjiidc!`ZZebVX]^cZbdk^c\hdi]Z
k^WgVi^c\Wgjh]YdZhcdiV\^iViZ^cdcZeaVXZ
>AAJH#-#
GZaZVhZi]ZgZYWjiidc+id&'^cX]ZhWZ[dgZ
ZcY^c\ZVX]eVhhidhideXaZVc^c\hdaji^dc#I^ai
bVX]^cZWVX`VcYejh]^i[dglVgYidhiVgiVcZl
WVX`lVgYXaZVc^c\eVhh>AAJH#.#
8dci^cjZXaZVc^c\^ci]^hbVccZg!dkZgaVee^c\
ZVX]eVhhha^\]ian#L]Zci]ZadlZgiVc`gjch
djid[XaZVc^c\hdaji^dc!i]ZejbehdjcYl^aa
^cXgZVhZ^ckdajbZha^\]ianVcYY^ginlViZgl^aa
hideZciZg^c\i]ZYdbZ#Hl^iX]i]ZbVX]^cZid
Æ%Ç[dgi]Zd[[edh^i^dc#GZbdkZVcYZbeini]Z
gZXdkZgniVc`Wnedjg^c\Y^ginhdaji^dc^cidV
id^aZidgdjiYddgh>AAJH#&%#
G^chZi]ZgZXdkZgniVc`VcYgZÒaai]ZadlZgiVc`
l^i]XaZVchdaji^dc$lViZgb^mijgZjh^c\VXaZVc
WjX`Zi#>[ndjVgZcZVgi]ZZcYd[ndjgXaZVc^c\
_dW!Òaai]ZadlZgiVc`]Va[[jaahd^iZbei^ZhWn
i]ZZcYd[ndjg_dW#GZeaVXZi]ZgZXdkZgniVc`#
8dci^cjZi]ZXaZVc^c\egdXZhhjci^aVgZVidWZ
XaZVcZY^hXdkZgZY#L]ZcXaZVc^c\^hXdbeaZiZ!
hl^iX]i]ZbVX]^cZidÆ%Ç[dgi]Zd[[edh^i^dc#Id
YgV^cVcYXaZVci]ZbVX]^cZ!eaZVhZgZ[Zgidi]Z
BV^ciV^c^c\NdjgGj\9dXidgBVX]^cZhZXi^dc#
IdaZVgcbdgZVWdji]dlidXaZVcndjgXVgeZih!gZ[ZgidÆJh^c\ndjgGj\9dXidgÇhZXi^dcdclll#gj\YdXidg#Xdb

+
9b[Wd_d]Kf^ebij[ho
8[\eh[Oek8[]_d
6alVnhjhZ6ci^";dVbl^i]Je]dahiZgn
8aZVcZgidegZkZciZmXZhhhjYh^c\^ci]Z
gZXdkZgniVc`#>[i]ZGj\9dXidgbVX]^cZ
^c\Zhih[dVbi]gdj\]i]ZYdbZÒaiZg!
YVbV\Zidi]ZXVgeZiVcYkVXjjbbdidg
XdjaYgZhjai#
I[jKf
EgZeVgZhjg[VXZh[dgXaZVc^c\Wni]dgdj\]an
kVXjjb^c\dgWgjh]^c\#L]ZcXaZVc^c\
VcYYgn^c\Xjh]^dch!ÒghihegZVYh]ZZihdg
idlZahdci]ZÓddgVhVYgn^c\hjg[VXZ[dg
i]ZYVbeZcZYXjh]^dch#
9^hXdccZXii]ZbVX]^cZÉhaVg\ZkVXjjb
]dhZ#GZXdccZXii]Zideedgi^dcidi]ZaVg\Z
kVXjjb]dhZd[]VcYidda#Ha^YZjei]ZWgVhh
Æfj^X`XdjeaZgÇg^c\VcYejaadjii]ZhbVaa
hdaji^dc]dhZ>AAJH#&#
Ha^YZjei]Zg^c\V\V^cid^chZgii]ZbZiVa
ZcYd[i]Z]VcYiddahdaji^dc]dhZ#GZaZVhZ
i]ZWgVhhg^c\idhZXjgZ#Ij\\Zciandci]Z
]dhZidbV`ZXZgiV^ci]ZXdccZXi^dc^h
hZXjgZ#
GZbdkZi]ZgZXdkZgniVc`!b^mGj\9dXidg
Je]dahiZgn8aZVcZg^cVXaZVcWjX`Zi
VXXdgY^c\idaVWZaY^gZXi^dchVcYedjg^cid
AdlZgiVc`>AAJH#'#
6YY&id'do#d[Gj\9dXidg6ci^";dVbid
gZXdkZgniVc`>AAJH#(#Ha^ei]ZiVc`WVX`
^ceaVXZVcYXadhZi]ZYdbZ]ddY>AAJH#)#
Eaj\^ci]ZedlZgXdgYVcYedh^i^dc
i]ZbVX]^cZ#
Ijgcdci]ZbVX]^cZWnha^Y^c\i]Zhl^iX]id
i]ZÆIddaÇedh^i^dcdci]Zh^YZd[i]Z]VcYaZ
>AAJH#*#
IjWhj9b[Wd_d]
IZhije]dahiZgn[dgXdadg[VhicZhhWnÒghiXaZVc^c\V
hbVaa!]^YYZcVgZV!i]ZcgjWW^c\i]ZiZhiVgZVl^i]
Vl]^iZeVeZgidlZa#>[cdXdadgVeeZVgh!Xdci^cjZ
XaZVc^c\#6a^iiaZXdadgdci]ZidlZabZVchi]ZgZÉh
hdbZX]VcXZd[Xdadggjcc^c\!Wji^iÉha^`ZanndjXVc
hi^aaXaZVchV[Zan#Ignjh^c\XddadgXdaYlViZgVcYiZhi
V\V^cl^i]Vl]^iZeVeZgidlZa#
Ldg`^c\ViVhadl!hiZVYneVXZ!WZ\^cXaZVc^c\Wn
hfjZZo^c\i]Z]VcYiddaaZkZgVhndjejaai]ZiddadkZg
[VWg^X>AAJH#+#DkZgaVehigd`Zhha^\]ian#
6hndjXaZVc!l^i]i]ZkVXjjbdc!hfj^gidgkVXjjbV
hbVaaVbdjcid[Gj\9dXidg6ci^";dVb^cidi]ZhbVaa
kVXjjbdeZc^c\d[i]Z]VcYiddaZkZgn[Zlb^cjiZh
idb^c^b^oZhjYhWj^aYje^ci]ZkVXjjb]dhZ#
>[[dVbWj^aYhjeVgdjcYi]Z]VcYidda!ejaaha^\]ian
[VhiZgdgkVXjjbZmXZhhhdaji^dcWneVhh^c\dkZg
VgZVVhZXdcYi^bZl^i]djihfjZZo^c\i]ZaZkZgdc
i]Z]VcYidda#L]ZcXaZVc^c\^hXdbeaZiZ!hl^iX]i]Z
bVX]^cZidÆ%Ç[dgi]Zd[[edh^i^dc#
9^hXdccZXiWdi]d[i]Z]dhZh[gdbi]ZbVX]^cZ#
=daY^c\i]Z]dhZZcYhdkZgVh^c`!hfjZZoZi]Z]VcY
iddaig^\\Zgjci^aVaaa^fj^Y^hYgV^cZY#
IdYgV^cVcYXaZVci]ZbVX]^cZ!gZ[Zgidi]Z
BV^ciV^c^c\NdjgGj\9dXidgBVX]^cZhZXi^dc#
GZXdccZXii]ZbVX]^cZkVXjjbVcYhdaji^dc]dhZh#
DEJ;0;dgkZakZije]dahiZgn!Ój[[jeYVbee^aZl^i]V
hd[iWgjh]dgidlZaid`ZZe[gdbbVii^c\#
Gj\9dXidg
Je]dahiZgn$
=VcYIdda
Gj\9dXidg
Je]dahiZgn
8aZVcZg
Gj\9dXidg
6ci^";dVb
HeZX^Va6eea^XVi^dc
>AAJH#& >AAJH#'
>AAJH#( >AAJH#)
>AAJH#* >AAJH#+

,
CW_djW_d_d]OekhHk]:eYjehCWY^_d[
;daadli]ZhZ\j^YZa^cZhidZchjgZndjgGj\9dXidgbVX]^cZl^aaaVhiVa^[Zi^bZ#
;V^ajgZidXdbeanl^i]i]Z^chigjXi^dch!XVji^dchVcYhV[ZinlVgc^c\h^ci]^hbVcjVa
kd^Yhi]ZlVggVcin#
9gV^ci]ZbVX]^cZWnhegVn^c\djigZbV^c^c\hdaji^dcdkZgVÓddgYgV^cdgdjiYddghcZkZg^cgV^cdgdclZi\gdjcY#
  9dcdiVaadlbVX]^cZidhiVcY^ca^fj^Yl]^aZZbein^c\#;dgWZhigZhjaih!hegVndjia^fj^Yl^i]bVX]^cZhZiid 
  ÆIddaÇidegZkZciWgjh]Zh[gdbbdkZbZciVcYlZVgl]^aZZbein^c\#Jh^c\i]^hbZi]dYndjXVchegVndjigZbV^c^c\
  a^fj^YZ^i]Zgi]gdj\]=VcYIddadgbVX]^cZhegVni^eh#
 8aZVci]Zk^WgVi^c\Wgjh]Wnejaa^c\Ydlcdci]ZeaVhi^XWgjh]WdYnH[\[hjeH[fbWY_d]78hki^I[Yj_ed#6[iZgZVX]
  jhZ!jceaj\i]ZbVX]^cZ[gdbedlZghdjgXZVcYjhZndjgÒc\ZgdgVcdaYXdbWidgZbdkZVcnYZWg^h[gdbi]Z 
  k^WgVi^c\Wgjh]#>[ndjjhZYVcnGj\9dXidgViiVX]bZcih!VahdgZbdkZYZWg^h[gdbi]ZViiVX]bZcikVXjjbhadi#
 8aZVci]ZkVXjjbÒaiZg#6[iZgZVX]jhZ!^cheZXii]ZXna^cYg^XVaÒaiZghXgZZcadXViZY^ch^YZd[i]ZXaZVgeaVhi^XYdbZ
  dci]Z[gdcid[i]ZbVX]^cZ#>[YZWg^h^hegZhZci!gZbdkZi]ZÒaiZghXgZZcWnejh]^c\^ig^\]iVcYXdbegZhh^c\i]Z
  heg^c\jci^ai]ZÒaiZgZcY^hXaZVgd[i]ZYdbZ#8aZVcWngjcc^c\lViZgi]gdj\]i]ZhXgZZc[gdbi]Z^ch^YZidi]Z 
  djih^YZ#GZeaVXZWnXdbegZhh^c\i]Zheg^c\l^gZVcY^chZgi^c\i]ZWaVX`ZcYhZXjgZan^cideaVXZ^ci]Z]daZ
  ^ch^YZi]ZYdbZ#
 8aZVci]Zhdaji^dciVc`ÒaiZghXgZZc#6[iZgZVX]jhZ!^cheZXii]ZgZXiVc\jaVgÒaiZghXgZZcadXViZY^ci]ZÒaadeZc^c\d[
  i]Zhdaji^dcadlZgiVc`#>[YZWg^h^hegZhZci!gZbdkZhXgZlhi]Vi]daYi]ZÒaiZg^ceaVXZVcYgZbdkZÒaiZg[gdbi]Z
  hdaji^dciVc`deZc^c\#8aZVcÒaiZgWn]daY^c\^ijcYZgVlViZg[VjXZiVcYaZii^c\i]ZlViZggjci]gdj\]i]ZÒaiZg^ci]Z
  deedh^iZY^gZXi^dc[gdbi]ZcdgbVaÒaa^c\Ódl#GZeaVXZi]ZÒaiZghXgZZcVcY[VhiZc^i^ceaVXZl^i]i]Zild
  bdjci^c\hXgZlh#
 8aZVci]Zhdaji^dciVc`a^cZhigV^cZg#L]Zci]Zhdaji^dciVc`ÒaiZghXgZZc^hgZbdkZY[dgXaZVc^c\!^cheZXii]Z 
  Xna^cYg^XVaÒaiZgbdjciZYdci]ZZcYd[i]Zhdaji^dca^cZ^ch^YZd[i]ZadlZgiVc`#>[YZWg^h^hegZhZci!gZbdkZi]ZÒaiZg
  Wnejaa^c\^id[[i]Zhdaji^dca^cZ#=daYi]ZÒaiZgjcYZgÓdl^c\lViZgjci^aYZWg^h^hXaZVgZY#GZeaVXZi]ZÒaiZgWn 
  ejh]^c\^idkZgi]ZZcYd[i]Zhdaji^dc]dhZ#
 GZbdkZXVgeZiÒWZgh[gdbkVXjjbhadi#EZg^dY^XVaanX]ZX`i]ZkVXjjbhadidci]ZWdiidb[gdcid[i]ZbVX]^cZ[dg
  YZWg^h#GZbdkZVcnÒWZg!]V^gdgdi]ZgYZWg^hi]VibVnWZXVj\]i^ci]Zhadi#6alVnhbV`ZhjgZi]ZbVX]^cZ^h^ci]Z
  Æ%Çedh^i^dc[dgd[[!jceaj\\ZYVcYi]ZiVc`hVgZZbein#
9Wh_d]<ehOekhCWY^_d[
6alVnhjhZgZXdbbZcYZYGj\9dXidgXaZVc^c\V\Zcih#:edejki[Zo[ehXb[WY^_dj^_icWY^_d[$:o[WdZXb[WY^m_bb
  f[hcWd[djboZWcW][oekhYWhf[ji$
 HidgZi]ZbVX]^cZ^cYddghdjid[Yjhin!lZiVcY[gZZo^c\VgZVh#I]^hegdadc\hi]Za^[Zd[ndjgGj\9dXidgbVX]^cZVcY
  ]Zaeh`ZZe^iigdjWaZ[gZZ#
 9dcdiZmedhZGj\9dXidgbVX]^cZhid[gZZo^c\iZbeZgVijgZh[dgVegdadc\ZYeZg^dYd[i^bZ#>c[gZZo^c\iZbeZgVijgZh!
  a^fj^Y^ci]ZbVX]^cZhnhiZbXVcYVbV\Zi]ZejbeVcYhdaji^dc]dhZh#
 JhZXVgZl]ZcigVchedgi^c\ndjgGj\9dXidgbVX]^cZ#Gj\9dXidgbVX]^cZhVgZYZh^\cZY[dggj\\ZYjhZ#=dlZkZg!
  Vkd^Yb^h]VcYa^c\hjX]VhYgdee^c\i]Zjc^idgigVchedgi^c\^i^cVcdeZckVcdgigjX`#?Vgg^c\[gdbhjYYZckZ]^XaZ
  hiVgihdghidehXVcYVbV\Zi]ZbVX]^cZ#
EXjW_d_d]I[hl_Y[<ehOekhCWY^_d[
GZ\^hiZgndjgcZlGj\9dXidgbVX]^cZWnXdbeaZi^c\djgdca^cZEgdYjXiGZ\^higVi^dc[dgbVilll#gj\YdXidg#Xdb#
  I]ZgZ\^higVi^dcZci^iaZhndjidhZgk^XZldg`VcYgZeaVXZbZcieVgihYjg^c\i]ZlVggVcineZg^dYh]djaYndjgbVX]^cZ
  cZZYgZeV^gh#
:edejWjj[cfjh[fW_hedWcWY^_d[kdZ[hmWhhWdjo$I[hl_Y_d]WdZmWhhWdjoh[fW_hii^ekbZX[f[h\ehc[ZXoWd
  Wkj^eh_p[Zi[hl_Y[h[fh[i[djWj_l[edbo$
 >[ndjZmeZg^ZcXZVcdeZgVi^dcVaegdWaZb!XVaadjg8dchjbZgHjeedgi=dia^cZVi&"-%%GJ<9D8IDG&"-%%",-)"(+'-#
  7Vh^XgZeaVXZbZcieVgihXVcWZdgYZgZYi]gdj\]8dchjbZgHjeedgi#>[gZeV^g^hgZfj^gZY!ndjl^aaWZY^gZXiZYidiV`Z
  dgh]^endjgGj\9dXidgbVX]^cZidi]ZcZVgZhiVji]dg^oZYgZeV^ghiVi^dc#Gj\9dXidggZXdbbZcYhndj`ZZei]Z
  dg^\^cVaXVgidcVcYeVX`^c\bViZg^Vah#
 L]ZcgZijgc^c\VbVX]^cZ[dgcdc"lVggVcindgdjid[lVggVcingZeV^gh!ValVnh^chjgZi]ZbVX]^cZ[dg^ih[jaa 
  kVajZWZ[dgZh]^ee^c\#


-
7lW_bWXb[H[fbWY[c[djFWhji<ehOekhCWY^_d[
GZ[Zgidi]Z[daadl^c\Y^V\gVb^[ndjcZZYiddgYZgWVh^XgZeaVXZbZcieVgih[dgndjgbVX]^cZ#
9dcdijhZgZeaVXZbZcieVgihdi]Zgi]Vci]dhZVkV^aVWaZi]gdj\]Gj\9dXidg#:edejWjj[cfj
h[fW_hiedWcWY^_d[kdZ[hmWhhWdjo$
H[fbWY_d]78hki^

&#I]ZWgjh]hig^e^h]ZaY^ceaVXZWnVhcVeÒiXdccZXi^dc#
 '#GZbdkZi]ZdaYWgjh]hig^eWnejaa^c\Ydlcdci]ZeaVhi^XWgjh]WdYn#
 (#>chZgii]ZcZlWgjh]hig^ejci^a^i^h[jaanhZViZY#
JhekXb[i^eej_d]
JhZi]^hhZXi^dcid]ZaegZhdakZVcn^hhjZhndjZmeZg^ZcXZl^i]ndjgbVX]^cZ#>[ndjYdcdi
ÒcYi]ZVchlZgidndjgfjZhi^dch]ZgZ!eaZVhZXdciVXii]ZGj\9dXidg=dia^cZVi
&"-%%GJ<9D8IDG&"-%%",-)"(+'-dgi]gdj\]i]ZGj\9dXidglZWh^iZViGj\9dXidg#Xdb#
I]ZGj\9dXidg=dia^cZ^hVkV^aVWaZ,YVnhVlZZ`ZmXZeidcaZ\Va]da^YVnh[gdb
-Vbid-eb8HI#
Fem[h?iik[i
6alVnhjhZV\gdjcYZYdjiaZil^i]i]^hbVX]^cZ#CdiYd^c\hdXVcgZhjai^cZaZXig^XVah]dX`#
GZ[Zgidi]Z<gdjcY^c\>chigjXi^dchhZXi^dc[dgbdgZ^c[dgbVi^dc#
J^[cWY^_d[im_jY^_ied"Xkjj^[h[_idefem[h$
Igni]Z[daadl^c\/
BV`ZhjgZi]ZZaZXig^XVaXdgY^heaj\\ZY^c#>[i]ZZaZXig^XVadjiaZi^hXdccZXiZYidVlVaahl^iX]!bV`ZhjgZi]ZlVaa
  hl^iX]^h^ci]ZDCedh^i^dc#
 8]ZX`i]ZX^gXj^iWgZV`Zghl^iX]dci]ZbVX]^cZVcYgZhZi^[cZXZhhVgn#
 8]ZX`i]Z6A8>eaj\VcYgZhZi^[cZXZhhVgn#
 8]ZX`i]ZlVaaX^gXj^iWgZV`Zg#>[^i^hd[[dg^[V[jhZ^hWadlc!jceaj\i]ZbVX]^cZVcYgZhZii]ZX^gXj^iWgZV`Zgdg
  gZeaVXZi]Z[jhZ#Eaj\i]ZbVX]^cZ^cidVY^[[ZgZcilVaaeaj\WZ[dgZWZ\^cc^c\V\V^c#
 8]ZX`i]ZedlZgXdgY#>[^i^hYZ[ZXi^kZ!eaZVhZXdciVXii]ZbVcj[VXijgZgdgVcVji]dg^oZYhZgk^XZV\Zci#
  6cVji]dg^oZYegd[Zhh^dcVabjhigZeV^gi]ZbVX]^cZ#
I]ZbVX]^cZhl^iX]^hdc!Wjii]ZgZ^h^ciZgb^iiZciedlZg#
EaZVhZXdciVXii]ZbVcj[VXijgZgdgVcVji]dg^oZYhZgk^XZV\Zci#;VjainZaZXig^XVaXVWaZ!
YZ[ZXi^kZhl^iX]Zh!dgaddhZiZgb^cVaXdccZXi^dchXVcXVjhZ^ciZgb^iiZcXZ#6cVji]dg^oZY
egd[Zhh^dcVabjhigZeV^gi]ZbVX]^cZ#
KVXjjb>hhjZh
Igni]Z[daadl^c\/
 BV`ZhjgZi]ZYdbZ]ddY^hXadhZYVcYhZXjgZanhZVaZY#
 8]ZX`i]Z]dhZXdccZXi^dcVii]ZWVX`d[i]ZbVX]^cZVcYhZXjgZ^[cZXZhhVgn#
 8aZVci]ZÒaiZgi]Vi^h^ci]ZYdbZ#
 GZbdkZVcnVXXjbjaViZYYZWg^hVgdjcYi]ZkVXjjbhadi#
>[cdcZd[i]ZVWdkZhiZehÒmi]ZegdWaZb!i]ZkVXjjb]dhZVhhZbWan^ch^YZi]ZbVX]^cZbVnWZYZ[ZXi^kZ#
8dciVXii]ZbVcj[VXijgZgdgVcVji]dg^oZYhZgk^XZV\Zci#6cVji]dg^oZYegd[Zhh^dcVabjhigZeV^gi]ZbVX]^cZ#
&%)+%
9dbZ;^aiZg
&%)+&AdlZgIVc`
Hjbe;^aiZg
.(%-)GZXdkZgn
7jX`Zi
+%)%%AdlZgIVc`
;^aa;^aiZg
+%,,-L]ZZa
'%%.&HXgZl!-M&$'Ç
;dgadlZgiVc`;^aa;^aiZg
+%,,.7gjh]Hig^e
H[fbWY_d]78hki^

.
JhekXb[i^eej_d]
KVXjjb>hhjZh
J^[cWY^_d[_ied"Xkjj^[lWYkkccejehmehai_dj[hc_jj[djbo$
EaZVhZXdciVXii]ZbVcj[VXijgZgdgVcVji]dg^oZYhZgk^XZV\Zci#6addhZl^g^c\XdccZXi^dc
XVcXVjhZ^ciZgb^iiZcXZ#6cVji]dg^oZYegd[Zhh^dcVabjhigZeV^gi]ZbVX]^cZ#
Hdaji^dcHnhiZb>hhjZh
J^[cWY^_d[beijmWj[hfh[iikh[$
8]ZX`i]ZaZkZad[hdaji^dc^ci]ZadlZgiVc`VcYgZÒaa^[cZXZhhVgn#
J^[cWY^_d[_iedWdZj^[ifhWoXkjjedeh^WdZjeebb[l[h_iZ[fh[ii[Z"
XkjdeifhWoYec[iekj$
Igni]Z[daadl^c\/
 BV`ZhjgZi]ZDChl^iX]^hhZiidi]ZVeegdeg^ViZhZii^c\!Z^i]ZgIddadg8VgeZi!cdiÆ%Ç[dgd[[#
 8]ZX`i]ZhbVaahdaji^dca^cZ]dhZVii]ZWVX`d[i]ZbVX]^cZ#8dccZXii]Za^cZhZXjgZanVii]Zfj^X`
  XdjeaZg^[cZXZhhVgn#
 7gjh]i]ZhegVni^ehl^i]Vhd[i"Wg^hiaZWgjh]!hjX]VhVcdaYiddi]Wgjh]!idgZbdkZVcnWj^aY"jei]VibVn
  WZXad\\^c\i]Zi^eh#9dcdiWgjh]hegVni^ehl^i]Vcn`^cYd[l^gZdgbZiVaWgjh]#9dcdiignidjcXad\i]Zi^e  
  Wned`^c\^il^i]Ve^cdgVcndi]ZgdW_ZXi#
 =VcYIddadcan/GZbdkZi]ZhegVni^el^i]VcjiYg^kZg#G^chZi]Zi^e!WadlV^gi]gdj\]^iidgZbdkZVcnWj^aY"jei]VibVnWZ
  Xad\\^c\i]Zi^e#GZViiVX]i]Zi^el^i]i]ZcjiYg^kZg#BV`ZhjgZidedh^i^dci]Zi^edeZc^c\hdi]Vi^ihegVnhh^YZidh^YZ#
 8]ZX`i]ZadlZgiVc`hjbeÒaiZg^ch^YZi]ZadlZgiVc`VcYXaZVc^[cZXZhhVgn#GZ[Zgidi]ZBV^ciV^c^c\NdjgGj\9dXidg 
  BVX]^cZhZXi^dc^ci]^hYdXjbZci[dgbdgZ^c[dgbVi^dc#
J^[ifhWo\hecj^[ifhWoj_fi_im[Waehkd[l[d$
Igni]Z[daadl^c\/
 7gjh]i]ZhegVni^ehl^i]Vhd[i"Wg^hiaZWgjh]!hjX]VhVcdaYiddi]Wgjh]!idgZbdkZVcnWj^aY"jei]VibVnWZXad\\^c\ 
  i]Zi^e#9dcdiWgjh]hegVni^ehl^i]Vcn`^cYd[l^gZdgbZiVaWgjh]#9dcdiignidjcXad\i]Zi^eWned`^c\^il^i]Ve^c
  dgVcndi]ZgdW_ZXi#
 =VcYIddadcan/GZbdkZi]ZhegVni^el^i]VcjiYg^kZg#G^chZi]Zi^eVcYWadlV^gi]gdj\]^iidgZbdkZVcnWj^aY"jei]Vi 
  bVnWZXad\\^c\i]Zi^e#GZViiVX]i]Zi^el^i]i]ZcjiYg^kZg#BV`ZhjgZidedh^i^dci]Zi^edeZc^c\hdi]Vi^ihegVnhh^YZ
  idh^YZ#
 8]ZX`i]ZadlZgiVc`hjbeÒaiZg^ch^YZi]ZadlZgiVc`VcYXaZVc^[cZXZhhVgn#GZ[Zgidi]ZBV^ciV^c^c\NdjgGj\9dXidg 
  BVX]^cZhZXi^dc^ci]^hYdXjbZci[dgbdgZ^c[dgbVi^dc#
:mXZhh^kZ;dVb^c\
;dVb^ci]ZgZXdkZgniVc`^hXVjhZYbdhid[iZcWnJe]dahiZgn8aZVcZghdaji^dcdgWnXaZVc^c\
XVgeZihl]ZgZhegVn[dVbh]VkZWZZcjhZYegZk^djhan#6YY&id'do#d[6ci^";dVbidi]ZgZXdkZgn
iVc`#>[ndjVgZXaZVc^c\je]dahiZgn!^cVYY^i^dcidVYY^c\6ci^";dVbidi]ZgZXdkZgniVc`!VYY
hbVaaVbdjcihd[6ci^";dVbVii]Z]VcYiddakVXjjbhadieZg^dY^XVaanl]^aZXaZVc^c\#
8VgeZi9^hXdadgVi^dc$HiV^cZYVgZVhVeeZVgdci]ZXVgeZiV[iZgXaZVc^c\
Igni]Z[daadl^c\/
=VcYIddadcan/GZbdkZi]ZhegVni^el^i]VcjiYg^kZg#G^chZi]Zi^eVcYWadlV^gi]gdj\]^iidgZbdkZVcnWj^aY"jei]Vi 
  bVnWZXad\\^c\i]Zi^e#GZViiVX]i]Zi^el^i]i]ZcjiYg^kZg#BV`ZhjgZidedh^i^dci]Zi^edeZc^c\hdi]Vi^ihegVnh
  h^YZidh^YZ#
 6[iZgi]ZXVgeZi^hXdbeaZiZanYgn!XaZVci]ZVgZVl^i]ndjgGj\9dXidgbVX]^cZbV`^c\hjgZidVkd^YdkZglZii^c\i]Z 
  XVgeZi#HiV^chbVnXdci^cjZidVeeZVg^[i]ZXVgeZi^hdkZglZiiZY#
HigZV`hVeeZVgdci]ZXVgeZiYjg^c\XaZVc^c\
Igni]Z[daadl^c\/
 7gjh]i]ZhegVni^ehl^i]Vhd[i"Wg^hiaZWgjh]!hjX]VhVcdaYiddi]Wgjh]!idgZbdkZVcnWj^aY"jei]VibVnWZXad\\^c\ 
  i]Zi^e#9dcdiWgjh]hegVni^ehl^i]Vcn`^cYd[l^gZdgbZiVaWgjh]#9dcdiignidjcXad\i]Zi^eWned`^c\^il^i]Ve^c
  dgVcndi]ZgdW_ZXi#8]ZX`i]ZWgjh]Wg^hiaZh[dgYVbV\ZdglZVg#GZeaVXZi]ZWgjh]^[cZXZhhVgn#
Xdci^cjZY

&%
<_l[+O[WhB_c_j[Z9edikc[hMWhhWdjo
Gj\9dXidg\^kZhi]Zdg^\^cVaejgX]VhZg!l]dgZiV^chegdd[d[ejgX]VhZ![gdbGj\9dXidgdgVcVji]dg^oZYGj\9dXidg
YZVaZg!i]^ha^b^iZYlVggVcinÆlVggVcinÇ[dgndjgB^\]inEgdM(XVgeZiXaZVc^c\bVX]^cZVXfj^gZY[dgcdgbVa]djhZ]daY
jhZXdbbZgX^VadggZciVajhZ^hZmXajYZY#NdjVgZgZhedch^WaZidcdi^[nGj\9dXidgl^i]^ci]^gin(%YVnhd[dg^\^cVa
ejgX]VhZ^[VcneVgihdgXdbedcZcihVgZb^hh^c\dcndjgB^\]inEgdM(bVX]^cZ#
M^Wj:e[iJ^_iMWhhWdjo9el[h%>emBed]:e[iJ^[MWhhWdjoBWij
Gj\9dXidgl^aa![dgi]Zdg^\^cVaejgX]VhZg!gZeV^gdggZeaVXZ^cXajY^c\aVWdg!VcneVgii]Vi^hYZ[ZXi^kZ^c
bViZg^Vadgldg`bVch]^el^i]^cÒkZ*nZVghd[ejgX]VhZ0iZc&%nZVghdcdjiZg]djh^c\eVgih#
J^_imWhhWdjoWffb_[ijecWY^_d[iki[Z\ehdehcWb^eki[^ebZfkhfei[iedbo$
M^WjJ^[MWhhWdjo:e[iDej9el[h
I]Z[daadl^c\ZmXajh^dchVeeanidbVX]^cZVcYeVgih[V^ajgZhYjZid/&cdgbValZVgVcYiZVg0'bVX]^cZVaiZgVi^dch
VcY(VWjhZdgb^hjhZd[i]ZbVX]^cZ!^cXajY^c\jhZcdi^cVXXdgYVcXZl^i]i]^hÆ>chigjXi^dc<j^YZ#ÇI]^hlVggVcin
YdZhcdiegdk^YZ[dgVgZ[jcYd[i]ZejgX]VhZeg^XZ#;dgWZhideZgVi^c\Z[ÒX^ZcXnVcYXaZVc^c\!jhZd[Gj\9dXidg
egdYjXih^hgZXdbbZcYZY#JhZd[i]ZbVX]^cZ[dggZciVakd^Yhi]ZlVggVcinVcY^hcdieZgb^iiZYjcYZg;ZYZgVaAVlhZZ
ÆJC6JI=DG>O:9JH:ÇhiViZbZciWZadl#8dbbZgX^VajhZ^hZmXajYZYjcYZgi]^hlVggVcinZmXZeiVhhZi[dgi]^ci]Z
ÇED;O;7HB?C?J;:9ECC;H9?7BM7HH7DJOÈWZadl#Gj\9dXidg^hcdia^VWaZ[dgVcnXdchZfjZci^Vadg^cX^YZciVa
YVbV\Zhd[VcncVijgZ^ckdak^c\i]ZejgX]VhZ$jhZd[ndjgXVgeZiXaZVc^c\bVX]^cZ#>ccdZkZcih]VaaGj\9dXidgÉh
a^VW^a^inZmXZZYi]ZejgX]VhZeg^XZd[i]ZbVX]^cZ#HdbZhiViZhYdcdiVaadli]ZZmXajh^dcdga^b^iVi^dcd[^cX^YZciVadg
XdchZfjZci^VaYVbV\Zh!hdi]ZVWdkZa^b^iVi^dchdgZmXajh^dchbVncdiVeeanidndj#
;nf[di[i
>[VbVX]^cZ^hgZijgcZYidVlVggVcinXZciZg[dggZeV^gl^i]^ci]^gin(%YVnhd[dg^\^cVaejgX]VhZ!Gj\9dXidgl^aaeVni]Z
[gZ^\]iX]Vg\ZhWdi]idVlVggVcinXZciZgVcYWVX`idndj#I]ZgZV[iZg!ndjbVnWZY^gZXiZYidiV`Zi]ZbVX]^cZidVadXVa
gZeV^gXZciZgdggZfj^gZYidh]^ei]ZbVX]^cZidVGj\9dXidglVggVcinXZciZgh]djaYVYY^i^dcVagZeV^ghWZgZfj^gZYYjg^c\
i]ZlVggVcineZg^dY#Ndjl^aaWZgZhedch^WaZideVnVcn[gZ^\]iX]Vg\Zh[dgh]^ebZciidi]ZlVggVcinXZciZg[dggZeV^gh
dXXjgg^c\V[iZgi]Z^c^i^Vai]^gin(%YVnh#Gj\9dXidgl^aaeVni]Z[gZ^\]iX]Vg\ZhWVX`idndj#
>emIjWj[BWmi7ffbo
I]^hlVggVcin\^kZhndjheZX^ÒXaZ\Vag^\]ih#NdjbVnVahd]VkZdi]Zgg^\]ihl]^X]kVgn[gdbhiViZidhiViZ#
>em:e?=[jI[hl_Y[KdZ[hJ^_iMWhhWdjo5
IDD7I6>CL6GG6CIN6HH>HI6C8:!eaZVhZXVaa&"-%%GJ<9D8IDG&"-%%",-)"(+'--Vbid*ebBdc";g^8HI
dgZ"bV^aXdchjbZg#hjeedgi@gj\YdXidg#Xdb#Gj\9dXidgl^aacZZYi]Z[daadl^c\^c[dgbVi^dc^cdgYZgidVhh^hindj/ndjg
cVbZ!VYYgZhhVcYiZaZe]dcZcjbWZg!egdYjXibdYZaVcYhZg^VacjbWZg!egdd[d[ejgX]VhZh]dl^c\YViZVcYeaVXZd[
ejgX]VhZ#EaZVhZZmeaV^ci]ZcVijgZd[i]ZegdWaZb#Gj\9dXidgl^aagZk^ZlVaai]Z[VXih^ckdakZYVcYVYk^hZndjVhid
gZXdbbZcYZYegdXZYjgZ#LZgZXdbbZcYndj`ZZei]Zdg^\^cVaXVgidcVcYeVX`^c\bViZg^Vah#
Gj\9dXidg!>cX#
),%&DaYH]ZeVgYEaVXZ
EaVcd!IZmVh,*%.(
:"bV^a/XdchjbZg#hjeedgi@gj\YdXidg#Xdb
LZWH^iZ/lll#gj\YdXidg#Xdb
KdWkj^eh_p[ZKi[
JhZd[i]^hXVgeZiXaZVc^c\bVX]^cZl^i]Gj\9dXidgigVYZbVg`h[dggZciVaejgedhZh^hJC6JI=DG>O:9VcY^h^ck^daVi^dc
d[J#H#8#HZXi^dc&&&)>VcY&*J#H#8#HZXi^dc&&'*V#
Ed['O[WhB_c_j[Z9ecc[hY_WbMWhhWdjo
6aad[i]ZlVggVciniZgbhVhZmegZhhZYVWdkZh]VaaVeean^cVaagZheZXih![dgi]Zdg^\^cVaJc^iZYHiViZhejgX]VhZgd[V
B^\]inEgdM(XVgeZiXaZVc^c\bVX]^cZ!l]dejgX]VhZh$jhZhi]ZbVX]^cZXdbbZgX^Vaancdi^c]djhZ]daYjhZ!ZmXZei
i]Vii]Za^b^iZYlVggVcineZg^dY[dgi]ZYZ[ZXih^cbViZg^Vadgldg`bVch]^eVhlZaaVh]djh^c\eVgih[dgXdbbZgX^VajhZ
bVX]^cZhh]VaaWZdcZ&nZVg#
OekYWdh[]_ij[hoekhHk]:eYjehcWY^_d[Wjlll#gj\YdXidg#Xdb
MWhhWdjoWdZFheZkYjH[]_ijhWj_ed