'
5CHGV[2TGECWVKQPU
1DABKHHKSEJCO=BAPULNA?=QPEKJOIQOP>AP=GAJSDAJQOEJCUKQN=EN?KJ@EPEKJAN
4/+&+$
4KUMQHGNGEVTKEUJQEMŖ%CPECWUGKPLWT[QTFGCVJŖ&KUEQPPGEVCNN
TGOQVGGNGEVTKERQYGTUWRRNKGUDGHQTGUGTXKEKPIKPUVCNNKPIQTENGCPKPI
Ŗ6JKUOWUVDGFQPGD[VJGOCPWHCEVWTGTQTKVUUGTXKEGCIGPVQTCUKOKNCT
SWCNKHKGFRGTUQPKPQTFGTVQCXQKFCJC\CTF
4GIKUVGT[QWTRTQFWEVCVYYYUCOUWPIEQOINQDCNTGIKUVGT
&74+0)12'4#6+10 7UGTUQHVJKURTQFWEVCTGECWVKQPGFPQVVQCVVGORVTGRCKTQHVJKURTQFWEVCVVJGKT
QYPFKUETGVKQP+PUVGCFVJG[CTGTGSWGUVGFVQFKTGEVN[EQPVCEVCFGUKIPCVGF
UGTXKEGEGPVGTQTVJGQWVNGVCVYJKEJVJGRTQFWEVYCURWTEJCUGF
0GXGTURKNNCP[MKPFQHNKSWKFKPVQVJGWPKV5JQWNFVJKUJCRRGPWPRNWIQTOCKP
UYKVEJQHHVJGWPKVCPFEQPVCEVCPCWVJQTK\GFUGTXKEGEGPVGT
&QPQVKPUGTVCP[VJKPIDGVYGGPVJGCKTQWVNGVDNCFGUDGECWUGVJGKPPGTHCPOC[
DGFCOCIGFCPFEQWNFECWUGKPLWT[-GGREJKNFTGPCYC[HTQOVJGWPKV
&QPQVRNCEGCP[QDUVCENGUKPHTQPVQHVJGWPKV
&QPQVURTC[NKSWKFQHCP[MKPFKPVQVJGKPFQQTWPKV5JQWNFVJKUJCRRGPUYKVEJQHH
VJGDTGCMGTWUGFHQT[QWTCKTEQPFKVKQPGTCPFEQPVCEV[QWTKPUVCNNCVKQPURGEKCNKUV
/CMGUWTGVJCVVJGWPKVKUEQTTGEVN[XGPVKNCVGFCVCNNVKOGU
&QPQVRNCEGENQVJKPIQTQVJGTOCVGTKCNUQXGTKV
+HVJGYKTGNGUUTGOQVGEQPVTQNYKNNPQVDGWUGFHQTCNQPIVKOGTGOQXGVJG
DCVVGTKGU+HCRRNKECDNG
9JGPWUKPICYKTGNGUUTGOQVGEQPVTQNVJGFKUVCPEGUJQWNFPQVDGOQTGVJCP
OGVGTUHTQOVJGCKTEQPFKVKQPGT+HCRRNKECDNG
6JGCKTEQPFKVKQPGTOWUVDGRNWIIGFKPVQKVUQYPURGEKHKERQYGTUQWTEGYJKEJ
OWUVDGKPUVCNNGFKPEQORNKCPEGYKVJPCVKQPCNYKTKPIGCTVJKPICPFUCHGV[
TGIWNCVKQPU
+HVJGRQYGTEQTFKUFCOCIGFKPCP[YC[KVOWUVDGTGRNCEGFD[VJGOCPWHCEVWTGT
QTKVUUGTXKEGCIGPVQTCUKOKNCTN[SWCNKHKGFRGTUQPKPQTFGTVQCXQKFCJC\CTF
6JKUFGXKEGOWUVDGKPUVCNNGFCEEQTFKPIVQVJGPCVKQPCNGNGEVTKECNTWNGU
6JGCRRNKCPEGOWUVDGKPUVCNNCVKQPVJCVVJGRNWIUJQWNFDGGCUKN[CEEGUUKDNG
CHVGTKPUVCNNCVKQP
+HVJGHWUGQP2%DQCTFKUDTQMGPRNGCUGEJCPIGKVYKVJVJGV[RGQH6#8
6JGDTGCMGTQHVJGCKTEQPFKVKQPGTUJQWNFDGCNNRQNGUYKVEJCPFVJGFKUVCPEG
DGVYGGPKVUVYQEQPVCEVUUJQWNFDGPQNGUUVJCPOO5WEJOGCPUHQT
FKUEQPPGEVKQPOWUVDGKPEQTRQTCVKQPKPVJGHKZGFYKTKPI
&+5215+0)1(6*'70+6
$GHQTGVJTQYKPIQWVVJGFGXKEGKVKUPGEGUUCT[VQRWNNDCEMVJGDCVVGT[EGNNUCPF
IGVTKFQHVJGOUCHGN[HQTTGE[ENKPITGCUQPU
9JGP[QWPGGFVQFKURQUGQHVJGWPKVEQPUWNV[QWTFGCNGT+HRKRGUCTGTGOQXGF
KPEQTTGEVN[TGHTKIGTCPVOC[DNQYQWVCPFEQOGKPVQEQPVCEVYKVJ[QWTUMKPECWUKPI
KPLWT[4GNGCUKPITGHTKIGTCPVKPVQVJGCVOQURJGTGCNUQFCOCIGUVJGGPXKTQPOGPVU
2NGCUGTGE[ENGQTFKURQUGQHVJGRCEMCIKPIOCVGTKCNHQTVJKURTQFWEVKPCP
GPXKTQPOGPVCNN[TGURQPUKDNGOCPPGT
1
6*'45
0GXGTUVQTGQTUJKRVJGCKTEQPFKVKQPGTWRUKFGFQYPQTUKFGYC[UVQCXQKFFCOCIG
VQVJGEQORTGUUQT
6JGCRRNKCPEGKUPQVKPVGPFGFHQTWUGD[[QWPIEJKNFTGPQTKPHKTORGTUQPUYKVJQWV
UWRGTXKUKQP;QWPIEJKNFTGPUJQWNFDGUWRGTXKUGFVQGPUWTGVJCVVJG[FQPQVRNC[
YKVJVJGCRRNKCPEG
/CZEWTTGPVKUOGCUWTGFCEEQTFKPIVQ+'%UVCPFCTFHQTUCHGV[CPFEWTTGPVKU
OGCUWTGFCEEQTFKPIVQ+51UVCPFCTFHQTGPGTI[GHHKEKGPE[