WANDERS NORMANDIE User manual


9CPFGTU
/'6##.241&7%6'0$8
#/69')
#.0GVVGTFGP
6JG0GVJGTNCPFU
2JQPG
(CZ
GOCKNKPHQ"YCPFGTUEQO
YYYYCPFGTUEQO

+056#..#6+''0$'&+'0+0)581145%*4+(6'08114

+05647%6+105(1475'+056#..#6+10/#07#.

1250$1',(

ZZZZDQGHUVFRP

9CPFGTU
/'6##.241&7%6'0$8
#/69')
#.0GVVGTFGP
6JG0GVJGTNCPFU
2JQPG
(CZ
GOCKNKPHQ"YCPFGTUEQO
YYYYCPFGTUEQO

+056#..#6+''0$'&+'0+0)581145%*4+(6'08114

+05647%6+105(1475'+056#..#6+10/#07#.

1250$1',(

ZZZZDQGHUVFRP


+0*17&512)#8'0.
6'%*0+5%*'##09+,<+0)'08114+056#..#6'74
+056#..#6+'81145%*4+(6'0
6'%*0+5%*'##09+,<+0)'0
5%*11456''0
+056#..'4'08#0&'-#%*'.
##05.7+6'08#0&'5%*11456''0
##05.7+6+0)8#0&')#5.'+&+0)
10&'4*17&
66$
*1765'6##4&)#5
*1765'62412##0
#(56#0&5$'&+'0+0)
)'$47+-5##09+,<+0)#(56#0&5$'&+'0+0)

)'$47+-'45*#0&.'+&+0)

+0)'$47+-56'..'08#0&'-#%*'.
$7+6'09'4-+0)56'..'08#0&'*11(&$4#0&'4
$7+6'09'4-+0)56'..'08#0&'9##-8.#/
81145%*4+(6'08114&')'$47+-'4
66$$'8'+.+)+0)
''456'-''4561-'0
10&'4*17&
8'06+.#6+'
9##45%*79+0)#&8+'5
%106'065  )$
6'%*0+%#.+05647%6+105(14(+66'4

+05647%6+105(14+056#..#6+10
6'%*0+%#.+05647%6+105
%*+/0';
+056#..#6+101(6*'(+4'2.#%'
(+66+0)6*'%*+/0';
(+66+0)6*')#52+2'
/#+06'0#0%'
66$
.1)5'60#674#.)#5
.1)5'62412#0')#5
4'/16'%10641.
+05647%6+10/#07#.4'/16'%10641.

+05647%6+10/#07#.

6#-+0)6*'(+4'2.#%'+06112'4#6+10
&'#%6+8#6+0)6*'/#+0$740'4
&'#%6+8#6+0)6*'2+.16(.#/'
75'4+05647%6+105
66$5'%74+6;&'8+%'
561-+0)72(146*'(+4566+/'
/#+06'0#0%'
8'06+.#6+10
9#40+0)#&8+%'


+0*17&512)#8'0.
6'%*0+5%*'##09+,<+0)'08114+056#..#6'74
+056#..#6+'81145%*4+(6'0
6'%*0+5%*'##09+,<+0)'0
5%*11456''0
+056#..'4'08#0&'-#%*'.
##05.7+6'08#0&'5%*11456''0
##05.7+6+0)8#0&')#5.'+&+0)
10&'4*17&
66$
*1765'6##4&)#5
*1765'62412##0
#(56#0&5$'&+'0+0)
)'$47+-5##09+,<+0)#(56#0&5$'&+'0+0)

)'$47+-'45*#0&.'+&+0)

+0)'$47+-56'..'08#0&'-#%*'.
$7+6'09'4-+0)56'..'08#0&'*11(&$4#0&'4
$7+6'09'4-+0)56'..'08#0&'9##-8.#/
81145%*4+(6'08114&')'$47+-'4
66$$'8'+.+)+0)
''456'-''4561-'0
10&'4*17&
8'06+.#6+'
9##45%*79+0)#&8+'5
%106'065  )$
6'%*0+%#.+05647%6+105(14(+66'4

+05647%6+105(14+056#..#6+10
6'%*0+%#.+05647%6+105
%*+/0';
+056#..#6+101(6*'(+4'2.#%'
(+66+0)6*'%*+/0';
(+66+0)6*')#52+2'
/#+06'0#0%'
66$
.1)5'60#674#.)#5
.1)5'62412#0')#5
4'/16'%10641.
+05647%6+10/#07#.4'/16'%10641.

+05647%6+10/#07#.

6#-+0)6*'(+4'2.#%'+06112'4#6+10
&'#%6+8#6+0)6*'/#+0$740'4
&'#%6+8#6+0)6*'2+.16(.#/'
75'4+05647%6+105
66$5'%74+6;&'8+%'
561-+0)72(146*'(+4566+/'
/#+06'0#0%'
8'06+.#6+10
9#40+0)#&8+%'




6'%*0+5%*'##09+,<+0)'08114+056#..#6'74

$GNCPITKLM
8QQTFCVWFGICUJCCTFRNCCVUVGPKPIGDTWKMPGGOVKUJGV\CCMFG\GKPUVTWEVKGU\QTIXWNFKIVGNG\GP
$GYCCT\G
$KLFGEQPUVTWEVKGXCPQP\GMCEJGNUJGDDGPYKLPKGVCNNGGPFGITQQVUVGCCPFCEJVDGUVGGFCCP
WKVXQGTKPIGPWKVGTNKLMOCCTQQMCCPGGPOCZKOCNGIGDTWKMUXTKGPFGNKLMJGKFGPDGFTKLHU\GMGTJGKF
9KLJGDDGPGTFCPQQMJGVXQNUVGXGTVTQWYGPKPFCVWLCTGPNCPIRNG\KGT\WNVJGDDGPXCPFGFQQTW
IGMQ\GPICUMCEJGN

+056#..#6+'81145%*4+(6'0

6GEJPKUEJGCCPYKL\KPIGP
%QPVTQNGGTQHFGMCEJGNXQQTFGLWKUVGICUUQQTVIGNGXGTFKUFKVKUCCPIGIGXGPQRJGV
V[RGRNCCVLG
%QPVTQNGGTQHFGICUFTWMLWKUVKUFKVKUCCPIGIGXGPQRJGVV[RGRNCCVLG
&GXGTDTCPFKPIUNWEJVYQTFVWKVFGTWKOVGIGJCCNF\QTIFCCTQOXQQTXQNFQGPFGXGPVKNCVKG
&GXGTDTCPFKPIUICUUGPFKGPGPFQQTGGPFCCTXQQTIGUEJKMVCHXQGTMCPCCNCHIGXQGTFVGYQTFGP
&GMCEJGNFKGPVIGRNCCVUVCCPIGUNQVGPGPIGEQPVTQNGGTFVGYQTFGPFQQTGGPGTMGPFICU
VGEJPKUEJKPUVCNNCVGWT
+PUVGNYCCTFGPXGTCPFGTGPGPQXGTKIGCCPRCUUKPIGPOQIGPCNNGGPIGDGWTGPFQQTGGPGTMGPF
KPUVCNNCVGWTGPCNNGGPXQNIGPUFGXQQTUEJTKHVGP
*GVVQGUVGNFKGPVIGRNCCVUVVGYQTFGPKPGGPQPDTCPFDCTGPKU
+PFKGPWIGDTWKMVOCCMVXCPGGPDGUVCCPFTQQMMCPCCNRNCCVUVWOKPKOCCNOGVGT
TQGUVXCUVUVCNGPDWKUXCPTQPFOOQRFGMCEJGN
.CCVWYUEJQQTUVGGPMCPCCNVGCNNGPVKLFGXQQTRNCCVUKPIXCPFGICUJCCTFXCMMWPFKITGKPKIGP
*QWFWCCPFGIGNFGPFGCNIGOGPGICUKPUVCNNCVKGXQQTUEJTKHVGP
+PDQWYOCVGPJQQIVGDTGGFVGFKGRVG
$KLJGVKPDQWYGPXCPJGVVQGUVGNFKGPVGTQPIGXGGTEOTWKOVGVWUUGPFGKPDQWYMCUVGPFG
UEJQWYVG\KVVGP
2NCCVUJGVVQGUVGNXQNIGPUFGIGNFGPFGTGIKQPCNGGPNQMCNGXQQTUEJTKHVGP

5EJQQTUVGGP

9CPPGGTCCPFGUEJQQTUVGGPGGPMQNGPQHQNKGMCEJGNJGGHVIGDTCPFNCCVJGVUEJQQTUVGGPMCPCCNFCP
GGTUVXCMMWPFKITGKPKIGPJQGYGNGGPICUMCEJGNMCPYGTMGPOGVGGPIGTKPIGUEJQQTUVGGPVTGM
CFXKUGTGPYKLGGPLCCTNKLMUGEQPVTQNGXCPFGUEJQQTUVGGPQRGXGPVWGNGXGTUVQRRKPIGPGP\



6'%*0+5%*'##09+,<+0)'08114+056#..#6'74

$GNCPITKLM
8QQTFCVWFGICUJCCTFRNCCVUVGPKPIGDTWKMPGGOVKUJGV\CCMFG\GKPUVTWEVKGU\QTIXWNFKIVGNG\GP
$GYCCT\G
$KLFGEQPUVTWEVKGXCPQP\GMCEJGNUJGDDGPYKLPKGVCNNGGPFGITQQVUVGCCPFCEJVDGUVGGFCCP
WKVXQGTKPIGPWKVGTNKLMOCCTQQMCCPGGPOCZKOCNGIGDTWKMUXTKGPFGNKLMJGKFGPDGFTKLHU\GMGTJGKF
9KLJGDDGPGTFCPQQMJGVXQNUVGXGTVTQWYGPKPFCVWLCTGPNCPIRNG\KGT\WNVJGDDGPXCPFGFQQTW
IGMQ\GPICUMCEJGN

+056#..#6+'81145%*4+(6'0

6GEJPKUEJGCCPYKL\KPIGP
%QPVTQNGGTQHFGMCEJGNXQQTFGLWKUVGICUUQQTVIGNGXGTFKUFKVKUCCPIGIGXGPQRJGV
V[RGRNCCVLG
%QPVTQNGGTQHFGICUFTWMLWKUVKUFKVKUCCPIGIGXGPQRJGVV[RGRNCCVLG
&GXGTDTCPFKPIUNWEJVYQTFVWKVFGTWKOVGIGJCCNF\QTIFCCTQOXQQTXQNFQGPFGXGPVKNCVKG
&GXGTDTCPFKPIUICUUGPFKGPGPFQQTGGPFCCTXQQTIGUEJKMVCHXQGTMCPCCNCHIGXQGTFVGYQTFGP
&GMCEJGNFKGPVIGRNCCVUVCCPIGUNQVGPGPIGEQPVTQNGGTFVGYQTFGPFQQTGGPGTMGPFICU
VGEJPKUEJKPUVCNNCVGWT
+PUVGNYCCTFGPXGTCPFGTGPGPQXGTKIGCCPRCUUKPIGPOQIGPCNNGGPIGDGWTGPFQQTGGPGTMGPF
KPUVCNNCVGWTGPCNNGGPXQNIGPUFGXQQTUEJTKHVGP
*GVVQGUVGNFKGPVIGRNCCVUVVGYQTFGPKPGGPQPDTCPFDCTGPKU
+PFKGPWIGDTWKMVOCCMVXCPGGPDGUVCCPFTQQMMCPCCNRNCCVUVWOKPKOCCNOGVGT
TQGUVXCUVUVCNGPDWKUXCPTQPFOOQRFGMCEJGN
.CCVWYUEJQQTUVGGPMCPCCNVGCNNGPVKLFGXQQTRNCCVUKPIXCPFGICUJCCTFXCMMWPFKITGKPKIGP
*QWFWCCPFGIGNFGPFGCNIGOGPGICUKPUVCNNCVKGXQQTUEJTKHVGP
+PDQWYOCVGPJQQIVGDTGGFVGFKGRVG
$KLJGVKPDQWYGPXCPJGVVQGUVGNFKGPVGTQPIGXGGTEOTWKOVGVWUUGPFGKPDQWYMCUVGPFG
UEJQWYVG\KVVGP
2NCCVUJGVVQGUVGNXQNIGPUFGIGNFGPFGTGIKQPCNGGPNQMCNGXQQTUEJTKHVGP

5EJQQTUVGGP

9CPPGGTCCPFGUEJQQTUVGGPGGPMQNGPQHQNKGMCEJGNJGGHVIGDTCPFNCCVJGVUEJQQTUVGGPMCPCCNFCP
GGTUVXCMMWPFKITGKPKIGPJQGYGNGGPICUMCEJGNMCPYGTMGPOGVGGPIGTKPIGUEJQQTUVGGPVTGM
CFXKUGTGPYKLGGPLCCTNKLMUGEQPVTQNGXCPFGUEJQQTUVGGPQRGXGPVWGNGXGTUVQRRKPIGPGP\



+PUVCNNGTGPXCPFGMCEJGN
8GTYKLFGTFGXGTRCMMKPI

8GTYKLFGTFGVYGGUEJTQGXGPCEJVGTFGDGFKGPKPIUFGWT\KGHKIGPJGVINCUTCCOGTCHDGWTGP
8GTYKLFGTFGXKGTUEJTQGXGPXCPFGUKGTNKLUVGPFGUKGTNKLUVYGIPGOGP\KGHKI
8GTYKLFGTFGVYGGUEJTQGXGPXCPJGVUEJQQTUVGGPCCPUNWKVUVWMGPUEJWKHFGRNCCVWKVFGTCKNU\KG
HKI
/QPVGGTFGHNGZKDGNGDWKUCCPJGVCCPUNWKVUVWM
2NCCVUFGMCEJGNPWKPFGQODQWYGPUEJWKHJGVUEJQQTUVGGPCCPUNWKVUVWMYGGTQR\KLPRNCCVU

/CCMPWFGICUCCPUNWKVKPIXQNIGPUFGXQQTUEJTKHVGP\KGICUCCPUNWKVKPI
%QPVTQNGGTCNNGICUCCPUNWKVKPIGPQRICUFKEJVJGKFIGDTWKMJKGTXQQT\GGRYCVGTQHGGPICUNGM
FGVGEVQT
/QPVGGTPWFGQPVXCPIGTXCPFGCHUVCPFUDGFKGPKPI\KGCHUVCPFUDGFKGPKPI
2NCCVUPWFGUKGTNKLUV
2NCCVUFGJQWVUGV\KGRNCCVUGPXCPFGJQWVUGV
2NCCVUJGVINCUTCCOFGPMGTCCPJGVINCUPKGVCCPVGTCMGPQOFCVXKPIGTCHFTWMMGPPKGVOGGTVG
XGTYKLFGTGP\KLPCNUFGMCEJGNGGPOCCNJGGHVIGDTCPF
ILJ
ILJ
)LJ


+PUVCNNGTGPXCPFGMCEJGN
8GTYKLFGTFGXGTRCMMKPI

8GTYKLFGTFGVYGGUEJTQGXGPCEJVGTFGDGFKGPKPIUFGWT\KGHKIGPJGVINCUTCCOGTCHDGWTGP
8GTYKLFGTFGXKGTUEJTQGXGPXCPFGUKGTNKLUVGPFGUKGTNKLUVYGIPGOGP\KGHKI
8GTYKLFGTFGVYGGUEJTQGXGPXCPJGVUEJQQTUVGGPCCPUNWKVUVWMGPUEJWKHFGRNCCVWKVFGTCKNU\KG
HKI
/QPVGGTFGHNGZKDGNGDWKUCCPJGVCCPUNWKVUVWM
2NCCVUFGMCEJGNPWKPFGQODQWYGPUEJWKHJGVUEJQQTUVGGPCCPUNWKVUVWMYGGTQR\KLPRNCCVU

/CCMPWFGICUCCPUNWKVKPIXQNIGPUFGXQQTUEJTKHVGP\KGICUCCPUNWKVKPI
%QPVTQNGGTCNNGICUCCPUNWKVKPIGPQRICUFKEJVJGKFIGDTWKMJKGTXQQT\GGRYCVGTQHGGPICUNGM
FGVGEVQT
/QPVGGTPWFGQPVXCPIGTXCPFGCHUVCPFUDGFKGPKPI\KGCHUVCPFUDGFKGPKPI
2NCCVUPWFGUKGTNKLUV
2NCCVUFGJQWVUGV\KGRNCCVUGPXCPFGJQWVUGV
2NCCVUJGVINCUTCCOFGPMGTCCPJGVINCUPKGVCCPVGTCMGPQOFCVXKPIGTCHFTWMMGPPKGVOGGTVG
XGTYKLFGTGP\KLPCNUFGMCEJGNGGPOCCNJGGHVIGDTCPF
ILJ
ILJ
)LJ



5.+&+0)2.#6'
176'4%#5+0)
$740'45'6
).#55
9+0&19
&'%14#6+8'
(4#/'
%1/$756+10%*#/$'4

#CPUNWKVGPXCPFGUEJQQTUVGGP

&GICUJCCTFKUUVCPFCCTFXQQT\KGPXCPGGPQRGPVTGMQPFGTDTGMGTOGVXCNYKPFCHNGKFGT
)GDTWKMXQQTFGXGTDKPFKPIXCPCHJGVVQGUVGNVQVUEJQQTUVGGPMCPCCNEQTTQUKGXCUVOCVGTKCCN
&GDKPPGPFKCOGVGTXCPFGRKLROQGVOKPKOCCNOO\KLP
&GCCPUNWKVKPIXCPJGVVQGUVGNQRJGVUEJQQTUVGGPMCPCCNFKGPVFGWIFGNKLMGPNGMMCIGXTKLVG\KLP

#CPUNWKVKPIXCPFGICUNGKFKPI

+PFGICUNGKFKPIXQQTJGVTGIGNDNQMFKGPVGGPIQGFIGMGWTFGICUMTCCPXCPRIGRNCCVUVVGYQTFGP
OCMMGNKLMDGTGKMDCCT
&GCCPUNWKVKPIQRJGVICUDNQMKUR
0CCCPUNWKVKPIXCPFGICUNGKFKPIJGVIGJGGNOGV\GGRYCVGTQHGGPICUNGMFGVGEVQTEQPVTQNGTGP
8QQTMQOVKLFGPUOQPVCIGXCPFGICUNGKFKPIURCPPKPIGPQRJGVICUDNQM

1PFGTJQWF

1OFGXGKNKIJGKFGPFGIQGFGYGTMKPIXCPFGMCEJGNVGMWPPGPICTCPFGTGPFKGPVFGMCEJGNLCCTNKLMU
FQQTGGPGTMGPFXCMOCPIGEQPVTQNGGTFGPIGTGKPKIFVGYQTFGP
*GVDTCPFGTIGFGGNVGFGYCCMXNCOGPFGXGTDTCPFKPIUMCOGT
*GVMGTCOKUEJINCUMCPIGTGKPKIFYQTFGPOGVGGPURGEKCCNUEJQQPOCCMOKFFGNXQQTMGTCOKUEJG
MQQMRNCVGP
+PFKGPGGPJQWVDNQMUVWMKUFKGPVFG\GXGTXCPIGPVGYQTFGP
+PFKGPGTURTCMGKUXCPGGPDCTUVKPFGTWKVQHCNUFGTWKVIGDTQMGPKUFKGPFG\GXGTXCPIGPVGYQTFGP
CNXQTGPUFGICUJCCTFYGGTKPIGDTWKMOCIYQTFGPIGPQOGP
.GVQRDKLJGVVGTWIRNCCVUGPXCPFGJQWVDNQMMGPFCV\GYGGTKPFGLWKUVGRQUKVKGYQTFGPIGRNCCVUV
\KGRNCCVUGPJQWVUGV

66$

&KVVQGUVGNKUUVCPFCCTFXQQT\KGPXCPGGPQRGPVTGMQPFGTDTGMGTXCNYKPFCHNGKFGTGPGGPVJGTOKUEJG
VGTWIUNCIDGXGKNKIKPI66$

*QWVUGV#CTFICU

8WNGGTUVFGDTCPFGTRNCCVOGVFGDKLIGNGXGTFGMQTTGNU\KGHKIC
.GVQRPQQKVOGGTMQTTGNUIGDTWKMGPFCPFGDKLIGNGXGTFGJQGXGGNJGKF
2NCCVUPWFGJQWVDNQMMGPXQNIGPUHKIDGPE
.GVQRFCVDKLJGVRNCCVUGPXCPFGJQWVDNQMMGPIGGPDNQMQRFGYCCMXNCOIGRNCCVUVYQTFV
&GPMGTYGNCCPFCVFGDNQMMGPGZCEVXQNIGPUJGVXQQTDGGNFIGRNCCVUVYQTFGPQOFGXNCOOGP\Q
OKPOQIGNKLMCHVGFGMMGPGP\QXGTUVQTKPIXCPJGVXNCODGGNFQHTQGVGPVGXQQTMQOGP
<QTIGTXQQTFCVJGVINCUTCCOIQGFIGUNQVGPYQTFVCNXQTGPUFGMCEJGNCCPVGUVGMGP

*QWVUGVRTQRCCP

$KLGGPRTQRCCPWKVXQGTKPIKUJGVPKGVVQGIGUVCCPQOMQTTGNUQRFGDTCPFGTVG
RNCCVUGP
2NCCVUFGDNQMMGPXQNIGPUHKICDGPE
&GPMGTYGNCCPFCVFGDNQMMGPGZCEVXQNIGPUJGVXQQTDGGNFIGRNCCVUVYQTFGPQOFGXNCOOGP\Q
OKPOQIGNKLMCHVGFGMMGPGP\QXGTUVQTKPIXCPJGVXNCODGGNFQHTQGVGPVGXQQTMQOGP
.GVQRFCVDKLJGVRNCCVUGPXCPFGJQWVDNQMMGPIGGPDNQMQRFGYCCMXNCOIGRNCCVUVYQTFV
<QTIGTXQQTFCVJGVINCUTCCOIQGFIGUNQVGPYQTFVCNXQTGPUFGMCEJGNCCPVGUVGMGP

5.+&+0)2.#6'
176'4%#5+0)
$740'45'6
).#55
9+0&19
&'%14#6+8'
(4#/'
%1/$756+10%*#/$'4

#CPUNWKVGPXCPFGUEJQQTUVGGP

&GICUJCCTFKUUVCPFCCTFXQQT\KGPXCPGGPQRGPVTGMQPFGTDTGMGTOGVXCNYKPFCHNGKFGT
)GDTWKMXQQTFGXGTDKPFKPIXCPCHJGVVQGUVGNVQVUEJQQTUVGGPMCPCCNEQTTQUKGXCUVOCVGTKCCN
&GDKPPGPFKCOGVGTXCPFGRKLROQGVOKPKOCCNOO\KLP
&GCCPUNWKVKPIXCPJGVVQGUVGNQRJGVUEJQQTUVGGPMCPCCNFKGPVFGWIFGNKLMGPNGMMCIGXTKLVG\KLP

#CPUNWKVKPIXCPFGICUNGKFKPI

+PFGICUNGKFKPIXQQTJGVTGIGNDNQMFKGPVGGPIQGFIGMGWTFGICUMTCCPXCPRIGRNCCVUVVGYQTFGP
OCMMGNKLMDGTGKMDCCT
&GCCPUNWKVKPIQRJGVICUDNQMKUR
0CCCPUNWKVKPIXCPFGICUNGKFKPIJGVIGJGGNOGV\GGRYCVGTQHGGPICUNGMFGVGEVQTEQPVTQNGTGP
8QQTMQOVKLFGPUOQPVCIGXCPFGICUNGKFKPIURCPPKPIGPQRJGVICUDNQM

1PFGTJQWF

1OFGXGKNKIJGKFGPFGIQGFGYGTMKPIXCPFGMCEJGNVGMWPPGPICTCPFGTGPFKGPVFGMCEJGNLCCTNKLMU
FQQTGGPGTMGPFXCMOCPIGEQPVTQNGGTFGPIGTGKPKIFVGYQTFGP
*GVDTCPFGTIGFGGNVGFGYCCMXNCOGPFGXGTDTCPFKPIUMCOGT
*GVMGTCOKUEJINCUMCPIGTGKPKIFYQTFGPOGVGGPURGEKCCNUEJQQPOCCMOKFFGNXQQTMGTCOKUEJG
MQQMRNCVGP
+PFKGPGGPJQWVDNQMUVWMKUFKGPVFG\GXGTXCPIGPVGYQTFGP
+PFKGPGTURTCMGKUXCPGGPDCTUVKPFGTWKVQHCNUFGTWKVIGDTQMGPKUFKGPFG\GXGTXCPIGPVGYQTFGP
CNXQTGPUFGICUJCCTFYGGTKPIGDTWKMOCIYQTFGPIGPQOGP
.GVQRDKLJGVVGTWIRNCCVUGPXCPFGJQWVDNQMMGPFCV\GYGGTKPFGLWKUVGRQUKVKGYQTFGPIGRNCCVUV
\KGRNCCVUGPJQWVUGV

66$

&KVVQGUVGNKUUVCPFCCTFXQQT\KGPXCPGGPQRGPVTGMQPFGTDTGMGTXCNYKPFCHNGKFGTGPGGPVJGTOKUEJG
VGTWIUNCIDGXGKNKIKPI66$

*QWVUGV#CTFICU

8WNGGTUVFGDTCPFGTRNCCVOGVFGDKLIGNGXGTFGMQTTGNU\KGHKIC
.GVQRPQQKVOGGTMQTTGNUIGDTWKMGPFCPFGDKLIGNGXGTFGJQGXGGNJGKF
2NCCVUPWFGJQWVDNQMMGPXQNIGPUHKIDGPE
.GVQRFCVDKLJGVRNCCVUGPXCPFGJQWVDNQMMGPIGGPDNQMQRFGYCCMXNCOIGRNCCVUVYQTFV
&GPMGTYGNCCPFCVFGDNQMMGPGZCEVXQNIGPUJGVXQQTDGGNFIGRNCCVUVYQTFGPQOFGXNCOOGP\Q
OKPOQIGNKLMCHVGFGMMGPGP\QXGTUVQTKPIXCPJGVXNCODGGNFQHTQGVGPVGXQQTMQOGP
<QTIGTXQQTFCVJGVINCUTCCOIQGFIGUNQVGPYQTFVCNXQTGPUFGMCEJGNCCPVGUVGMGP

*QWVUGVRTQRCCP

$KLGGPRTQRCCPWKVXQGTKPIKUJGVPKGVVQGIGUVCCPQOMQTTGNUQRFGDTCPFGTVG
RNCCVUGP
2NCCVUFGDNQMMGPXQNIGPUHKICDGPE
&GPMGTYGNCCPFCVFGDNQMMGPGZCEVXQNIGPUJGVXQQTDGGNFIGRNCCVUVYQTFGPQOFGXNCOOGP\Q
OKPOQIGNKLMCHVGFGMMGPGP\QXGTUVQTKPIXCPJGVXNCODGGNFQHTQGVGPVGXQQTMQOGP
.GVQRFCVDKLJGVRNCCVUGPXCPFGJQWVDNQMMGPIGGPDNQMQRFGYCCMXNCOIGRNCCVUVYQTFV
<QTIGTXQQTFCVJGVINCUTCCOIQGFIGUNQVGPYQTFVCNXQTGPUFGMCEJGNCCPVGUVGMGP


)LJD
)LJE
)LJF
$$5'*$6

9#44#06;%10&+6+105
9CPFGTU/GVCCNRTQFWEVGPDXKP0GVVGTFGP6JG0GVJGTNCPFUIWCTCPVGGUVJG
RTQRGTQRGTCVKQPQHVJGICUHKTGRNCEGWRVQQPG[GCTCHVGTVJGFCVGQHRWTEJCUG
RTQXKFGFVJCVVJGCRRCTCVWUKUKPUVCNNGFD[CRTQHGUUKQPCNCPFWUGFCEEQTFKPIVQVJG
TGIWNCVKQPU
6JGYCTTCPV[EQXGTUCNNFGHKEKGPEKGUVJCVCTGVJGTGUWNVQHHCWNV[EQPUVTWEVKQPCPF
HCWNV[OCVGTKCN+VCNUQKPENWFGUVJGRTQXKFKPIQHPGYRCTVUHTGGQHEJCTIG
9CPFGTU/GVCCNRTQFWEVGPDXECPPQVDGEJCTIGFHQTYCIGUCPFQVJGTEQUVU
&GHGEVKXGRCTVUUJQWNFDGUGPVRQUVRCKFVQ9CPFGTU/GVCCNRTQFWEVGPDX
#OVYGI#.0GVVGTFGP6JG0GVJGTNCPFU
&GHGEVUYJKEJTGUWNVHTQOKPLWFKEKQWUWUCIGPQVHQNNQYKPIVJGKPUVCNNCVKQPCPF
WUCIGKPUVTWEVKQPUEQPPGEVKQPUCPFTGRCKTUFQPGD[WPCWVJQTKUGFHKVVGTU
PGINGEVKPIQTEQPXGTUKQPHQTVJGWUGQHQVJGTV[RGUQHICUVJCPVJGQPGVJG
CRRCTCVWUKUKPVGPFGFHQTCTGGZENWFGFHTQOCP[V[RGQHYCTTCPV[
%QORNCKPVUCTGQPN[VTGCVGFYJGPVJGUWRRNKGTQTVJGHKVVGTJCUHKNGFVJGOIKXKPI
VJGFCVGQHRWTEJCUGCPFCEQR[QHVJGTGEGKRV
4GRCKTUFQPQVIKXGVJGTKIJVQHRTQNQPICVKQPQHVJGYCTTCPV[VGTO#NNFCOCIG
TGUWNVKPIHTQOTGRCKTUKUGZENWFGF


)LJD
)LJE
)LJF
$$5'*$6

9#44#06;%10&+6+105
9CPFGTU/GVCCNRTQFWEVGPDXKP0GVVGTFGP6JG0GVJGTNCPFUIWCTCPVGGUVJG
RTQRGTQRGTCVKQPQHVJGICUHKTGRNCEGWRVQQPG[GCTCHVGTVJGFCVGQHRWTEJCUG
RTQXKFGFVJCVVJGCRRCTCVWUKUKPUVCNNGFD[CRTQHGUUKQPCNCPFWUGFCEEQTFKPIVQVJG
TGIWNCVKQPU
6JGYCTTCPV[EQXGTUCNNFGHKEKGPEKGUVJCVCTGVJGTGUWNVQHHCWNV[EQPUVTWEVKQPCPF
HCWNV[OCVGTKCN+VCNUQKPENWFGUVJGRTQXKFKPIQHPGYRCTVUHTGGQHEJCTIG
9CPFGTU/GVCCNRTQFWEVGPDXECPPQVDGEJCTIGFHQTYCIGUCPFQVJGTEQUVU
&GHGEVKXGRCTVUUJQWNFDGUGPVRQUVRCKFVQ9CPFGTU/GVCCNRTQFWEVGPDX
#OVYGI#.0GVVGTFGP6JG0GVJGTNCPFU
&GHGEVUYJKEJTGUWNVHTQOKPLWFKEKQWUWUCIGPQVHQNNQYKPIVJGKPUVCNNCVKQPCPF
WUCIGKPUVTWEVKQPUEQPPGEVKQPUCPFTGRCKTUFQPGD[WPCWVJQTKUGFHKVVGTU
PGINGEVKPIQTEQPXGTUKQPHQTVJGWUGQHQVJGTV[RGUQHICUVJCPVJGQPGVJG
CRRCTCVWUKUKPVGPFGFHQTCTGGZENWFGFHTQOCP[V[RGQHYCTTCPV[
%QORNCKPVUCTGQPN[VTGCVGFYJGPVJGUWRRNKGTQTVJGHKVVGTJCUHKNGFVJGOIKXKPI
VJGFCVGQHRWTEJCUGCPFCEQR[QHVJGTGEGKRV
4GRCKTUFQPQVIKXGVJGTKIJVQHRTQNQPICVKQPQHVJGYCTTCPV[VGTO#NNFCOCIG
TGUWNVKPIHTQOTGRCKTUKUGZENWFGF



#
$
%
&
'
(
)
*

0.
)+.







0.
)+2







$'
))+'







$'
)+2







(4
))+'







(4
)+2







+6
))+*







+6
)+2







&'
)+'







&'
)+2







#6
)+*







#6
)+2







)$
)+*







)$
)+2







26
)+*







26
)+2







'5
)+*







'5
)+2







&-
)+*







&-
)+2







.7
))+'







.7
)+2







5'
)+*







5'
)+2






#%17064; '$740'424'5574'
$6;2'1()#5  (01<<.'%1&'
%24'24'5574'  )/+0+/#.5'66+0)01<<.'
&01/.1#&.8*%1057/26+103ORGTQWT


)LJ D
)LJE
)LJF
3523$$1

#
$
%
&
'
(
)
*

0.
)+.







0.
)+2







$'
))+'







$'
)+2







(4
))+'







(4
)+2







+6
))+*







+6
)+2







&'
)+'







&'
)+2







#6
)+*







#6
)+2







)$
)+*







)$
)+2







26
)+*







26
)+2







'5
)+*







'5
)+2







&-
)+*







&-
)+2







.7
))+'







.7
)+2







5'
)+*







5'
)+2






#%17064; '$740'424'5574'
$6;2'1()#5  (01<<.'%1&'
%24'24'5574'  )/+0+/#.5'66+0)01<<.'
&01/.1#&.8*%1057/26+103ORGTQWT


)LJ D
)LJE
)LJF
3523$$1


#HUVCPFUDGFKGPKPI

2NCCVUFGQPVXCPIGTXCPFGCHUVCPFUDGFKGPKPINKPMUQPFGTKPJGVVQGUVGNXQQTFCVWFGUKGTNKLUVRNCCVUV
HKI
5EJWKHFGMCDGNVWUUGPFGDWKVGPOCPVGNGPFGDQFGORNCCVXCPFGXGTDTCPFKPIUMCOGT

)LJ
2179$1*(5
/('
.$%(/
$DQVOXLWLQJ
PRWRU
67(..(56
9225
0,&52
6&+$.(/$$5
67(..(569225
02725
$DQVOXLWLQJ
PLFURVFKDNHODDU

66$5#('6;59+6%*

6JKUHKTGRNCEGKUHKVVGFYKVJCP66$UCHGV[UYKVEJYJKEJUJWVUFQYPVJGHKTGRNCEGYJGPVJGTGKUC
RTQDNGOYKVJVJGEJKOPG[FTCY
9JGPVJGHKTGRNCEGKUUJWVFQYPD[VJG66$VJKUWUWCNN[OGCPUVJCVVJGTGKUCRTQDNGOYKVJVJG
EJKOPG[+HVJKUJCRRGPUJCXGCPCWVJQTKUGFHKVVGTEJGEMVJGHKTGRNCEGCPFVJGEJKOPG[

0GXGTRWVVJG66$QWVQHWUG

9JGPVJG66$UJWVUFQYPVJGHKTGRNCEG[QWJCXGVQCVNGCUVYCKVOKPWVGUDGHQTGTGUVCTVVJG
HKTG

&QPQVWUGVJGHKTGRNCEGWPVKNCPCWVJQTKUGFHKVVGTGPUWTGUVJGUCHGV[

5VQMKPIWRHQTVJGHKTUVVKOG

9JGP[QWUVQMGWRHQTVJGHKTUVVKOGCPWPRNGCUCPVUEGPVOC[FGXGNQR6JKUKUECWUGFD[VJG
JCTFGPKPIQHVJGJGCVTGUKUVCPVNCESWGTVJKUUEGPVYKNNFKUCRRGCTCHVGTUGXGTCNJQWTU9GVJGTGHQT
CFXKUG[QWVQUGVVJGHNCOGJGKIJVCUJKIJCURQUUKDNGYJGP[QWUVQMGWRHQTVJGHKTUVVKOGCPFVQ
XGPVKNCVGVJGTQQOKPYJKEJKVKUKPUVCNNGF

/CKPVGPCPEG

+PQTFGTVQGPUWTGVJGUCHGV[CPFIQQFQRGTCVKQPQHVJGICUHKTGRNCEGKVUJQWNFDGEJGEMGFCPF
ENGCPGFD[CPCWVJQTKUGFRTQHGUUKQPCNCPPWCNN[
6JKUIQGUHQTVJGDWTPGTWPKVVJGRKNQVHNCOGCPFVJGEQODWUVKQPEJCODGT
6JGEGTCOKEINCUUECPDGENGCPGFYKVJCURGEKCNENGCPKPIRTQFWEVHQTEGTCOKEEQQMKPITKPIU
+HCNQIKUDTQMGPKVUJQWNFDGTGRNCEGF
+HVJGTGKUCETCEMKPVJGINCUUYKPFQYQTKHVJGYKPFQYKUDTQMGPKVUJQWNFDGTGRNCEGFDGHQTGVJG
ICUHKTGRNCEGECPDGVCMGPKPVQQRGTCVKQPCICKP
+H[QWRWVVJGNQIUDCEMKPVQVJGHKTGRNCEGOCMGUWTGVJCVVJG[CTGKPVJGTKIJVRQUKVKQPEJGEMVJG
EJCRVGTUQPVJGNQIUGVU

8GPVKNCVKQP

6JGHKTGRNCEGKUCUQECNNGFQRGPEQODWUVKQPCRRCTCVWUYJKEJOGCPUVJCVVJGCKTPGGFGFHQTVJG
EQODWUVKQPRTQEGUUKUGZVTCEVGFHTQOVJGTQQOKPYJKEJVJGHKTGRNCEGKUKPUVCNNGF+VKUKORQTVCPVVQ
JCXGGPQWIJXGPVKNCVKQPKPVJKUTQQO

9CTPKPI#FXKUG

9*'06*'(+4'2.#%'+5+012'4#6+10%'46#+02#4659+..$'%1/'8'4;*16
6*'4'(149#6%*%*+.&4'0#0&'.&'4.;2'12.'%.15'.;516*#66*';910O6
$7406*'/5'.8'5

0'8'4.'6%*+.&4'02.#;9+6*6*'4'/16'%10641.

10.;75'6*'4'/16'%10641.9*'06*'(+4'2.#%'+5+0;1748+'9


#HUVCPFUDGFKGPKPI

2NCCVUFGQPVXCPIGTXCPFGCHUVCPFUDGFKGPKPINKPMUQPFGTKPJGVVQGUVGNXQQTFCVWFGUKGTNKLUVRNCCVUV
HKI
5EJWKHFGMCDGNVWUUGPFGDWKVGPOCPVGNGPFGDQFGORNCCVXCPFGXGTDTCPFKPIUMCOGT

)LJ
2179$1*(5
/('
.$%(/
$DQVOXLWLQJ
PRWRU
67(..(56
9225
0,&52
6&+$.(/$$5
67(..(569225
02725
$DQVOXLWLQJ
PLFURVFKDNHODDU

66$5#('6;59+6%*

6JKUHKTGRNCEGKUHKVVGFYKVJCP66$UCHGV[UYKVEJYJKEJUJWVUFQYPVJGHKTGRNCEGYJGPVJGTGKUC
RTQDNGOYKVJVJGEJKOPG[FTCY
9JGPVJGHKTGRNCEGKUUJWVFQYPD[VJG66$VJKUWUWCNN[OGCPUVJCVVJGTGKUCRTQDNGOYKVJVJG
EJKOPG[+HVJKUJCRRGPUJCXGCPCWVJQTKUGFHKVVGTEJGEMVJGHKTGRNCEGCPFVJGEJKOPG[

0GXGTRWVVJG66$QWVQHWUG

9JGPVJG66$UJWVUFQYPVJGHKTGRNCEG[QWJCXGVQCVNGCUVYCKVOKPWVGUDGHQTGTGUVCTVVJG
HKTG

&QPQVWUGVJGHKTGRNCEGWPVKNCPCWVJQTKUGFHKVVGTGPUWTGUVJGUCHGV[

5VQMKPIWRHQTVJGHKTUVVKOG

9JGP[QWUVQMGWRHQTVJGHKTUVVKOGCPWPRNGCUCPVUEGPVOC[FGXGNQR6JKUKUECWUGFD[VJG
JCTFGPKPIQHVJGJGCVTGUKUVCPVNCESWGTVJKUUEGPVYKNNFKUCRRGCTCHVGTUGXGTCNJQWTU9GVJGTGHQT
CFXKUG[QWVQUGVVJGHNCOGJGKIJVCUJKIJCURQUUKDNGYJGP[QWUVQMGWRHQTVJGHKTUVVKOGCPFVQ
XGPVKNCVGVJGTQQOKPYJKEJKVKUKPUVCNNGF

/CKPVGPCPEG

+PQTFGTVQGPUWTGVJGUCHGV[CPFIQQFQRGTCVKQPQHVJGICUHKTGRNCEGKVUJQWNFDGEJGEMGFCPF
ENGCPGFD[CPCWVJQTKUGFRTQHGUUKQPCNCPPWCNN[
6JKUIQGUHQTVJGDWTPGTWPKVVJGRKNQVHNCOGCPFVJGEQODWUVKQPEJCODGT
6JGEGTCOKEINCUUECPDGENGCPGFYKVJCURGEKCNENGCPKPIRTQFWEVHQTEGTCOKEEQQMKPITKPIU
+HCNQIKUDTQMGPKVUJQWNFDGTGRNCEGF
+HVJGTGKUCETCEMKPVJGINCUUYKPFQYQTKHVJGYKPFQYKUDTQMGPKVUJQWNFDGTGRNCEGFDGHQTGVJG
ICUHKTGRNCEGECPDGVCMGPKPVQQRGTCVKQPCICKP
+H[QWRWVVJGNQIUDCEMKPVQVJGHKTGRNCEGOCMGUWTGVJCVVJG[CTGKPVJGTKIJVRQUKVKQPEJGEMVJG
EJCRVGTUQPVJGNQIUGVU

8GPVKNCVKQP

6JGHKTGRNCEGKUCUQECNNGFQRGPEQODWUVKQPCRRCTCVWUYJKEJOGCPUVJCVVJGCKTPGGFGFHQTVJG
EQODWUVKQPRTQEGUUKUGZVTCEVGFHTQOVJGTQQOKPYJKEJVJGHKTGRNCEGKUKPUVCNNGF+VKUKORQTVCPVVQ
JCXGGPQWIJXGPVKNCVKQPKPVJKUTQQO

9CTPKPI#FXKUG

9*'06*'(+4'2.#%'+5+012'4#6+10%'46#+02#4659+..$'%1/'8'4;*16
6*'4'(149#6%*%*+.&4'0#0&'.&'4.;2'12.'%.15'.;516*#66*';910O6
$7406*'/5'.8'5

0'8'4.'6%*+.&4'02.#;9+6*6*'4'/16'%10641.

10.;75'6*'4'/16'%10641.9*'06*'(+4'2.#%'+5+0;1748+'9



6JGDWTPGTECPCNUQDGFGCEVKXCVGFD[VWTPKPIVJGKIPKVKQPDWVVQP#
ENQEMYKUGCNNVJGYC[VQVJGGPFUVQR

&GCEVKXCVKPIVJGRKNQVHNCOG

$[RTGUUKPIVJGKIPKVKQPDWVVQP#NKIJVN[CPFVWTPKPIKVHWTVJGTENQEMYKUG[QW
YKNNFGCEVKXCVGVJGRKNQVHNCOG

7UGTKPUVTWEVKQPU

&QPQVRNCEGCP[EQODWUVKDNGQDLGEVUKPHTQPVQHQTKPUKFGVJGICUHKTGRNCEG
9JGPVJGHKTGJCUGZVKPIWKUJGF[QWOWUVYCKVCVNGCUVOKPWVGUDGHQTG[QW
KIPKVGKVCICKPEJGEMVCMKPIVJGHKTGRNCEGKPVQQRGTCVKQP
6QGPUWTGCIQQFHWPEVKQPKPIQHVJGICUHKTGRNCEGYGCFXKUG[QWVQJCXGKV
ENGCPGFCPFEJGEMGFD[CPCWVJQTKUGFHKVVGTCVNGCUVQPEGC[GCT
+HVJGHKTGKPVJGICUHKTGRNCEGGZVKPIWKUJGUTGRGCVGFN[[QWUJQWNFEQPUWNV[QWT
HKVVGT
6JGHTQPVQHVJGICUHKTGRNCEGKUTGICTFGFCUVJGJGCVGZEJCPIKPIUWTHCEG
9CTPKPIVJGHKTGRNCEGOC[PQVDGWUGFYJGPVJGINCUUYKPFQYKUDTQMGPQT
YJGPVJGFQQTKUQRGP6JGHKTGRNCEGOC[QPN[DGTGRCKTGFWUKPIQTKIKPCNRCTVU
UWRRNKGFD[VJGOCPWHCEVWTGTCPFTGRCKTUOC[QPN[DGFQPGD[CPCWVJQTKUGF
HKVVGT
;QWECPPQVCNVGTQTCFFCP[VJKPIVQVJGNQIUGVWPFGTCP[EKTEWOUVCPEG+HC
NQIKUDTQMGPKVUJQWNFDGTGRNCEGFD[CPQTKIKPCNQPGUWRRNKGFD[VJG
OCPWHCEVWTGT6QGZENWFGFCPIGTQHHKTGVJGFKUVCPEGDGVYGGPVJGHKTGRNCEG
CPFEQODWUVKDNGQDLGEVUQTHWTPKVWTGUJQWNFDGCVNGCUVEO6JGFKUVCPEG
DGVYGGPVJGDCEMQHVJGHKTGRNCEGCPFVJGYCNNUJQWNFDGCVNGCUVEO
+VKUKORQTVCPVVJCV[QWFQPQVWUGVJGHKTGRNCEGUJQTVN[CHVGTCTGPQXCVKQP
QTKPCPGYN[DWKNVJQWUG6JGCKTEKTEWNCVKQPUWEMUOQKUVWTGCPF
WPJCTFGPGFXQNCVKNGGNGOGPVUQHUVWEEQRCKPVHNQQTEQXGTKPIUCPFQVJGT
OCVGTKCNUKPVQVJGHKTGRNCEG6JKUOC[ECWUGUQQVUVCKPUQPEQNFUWTHCEGU

.12%'
.12%(

)GDTWKMUCCPYKL\KPICHUVCPFUDGFKGPKPI

+PUVGNNGPXCPFGFKURNC[XCP(JPCCT%JGPQOIGMGGTF
0CJGVRNCCVUGPXCPFGDCVVGTKLXCNMCNKPGQHFQQTJGVVGIGNKLMVKLFKIKPFTWMMGPXCPFGMPQRRGP
#761GP6+/'4DGIKPVFGCCPFWKFKPIVGMPKRRGTGPVKLFGPUJGVMPKRRGTGPXCPFGFKURNC[MCPOGP
QOUEJCMGNGPXCP(PCCT%FQQTJGVKPFTWMMGPXCPFG#761MPQRMCPOGPQOUEJCMGNGP
&GFKURNC[\CNPCGPKIGVKLFXCP\GNHYGGTQRJCPFDGFKGPKPIVGTWIMGTGPOGPMCPQQMFGMPQR
6+/'4KPFTWMMGP

+PUVGNNGPXCPFGVKLF
0CJGVRNCCVUGPXCPFGDCVVGTKLQHFQQTJGVIGNKLMVKLFKIKPFTWMMGPXCPFG#761GP6+/'4MPQR
DGIKPVFGFKURNC[VGMPKRRGTGPQOFGVKLFKPVGUVGNNGPOQGVOGPKPFTWMMGPQOFGWTGPKPVG
UVGNNGPGPOGVFGMPQRMCPOGPFGOKPWVGPKPUVGNNGPCCPUNWKVGPFYCEJVGPQHQRMPQR6+/'4
FTWMMGPQOYGGTQRJCPFDGFKGPKPIVGTWIVGMGTGP

+PUVGNNGPXCPFGIGYGPUVGVGORGTCVWWT

&G#761VQGVUPGV\QNCPIKPIGFTWMVJQWFGPVQVFGVGORCCPFWKFKPIMPKRRGTVFCPOGVVQGVU
QHFGVGORGTCVWWTJQIGTQHNCIGTKPUVGNNGP&CCTPCYCEJVGPQHMPQR#761KPFTWMMGPQOKP
FGCWVQOCVKUEJOQFWUVGMQOGP
&GUGPUQTKPFGCHUVCPFUDGFKGPKPIOGGVFGVGORGTCVWWTKPFGTWKOVGFG\GYQTFVOGVFGKPIGUVGNFG
VGORGTCVWWTXGTIGNGMGPFGQPVXCPIGTMTKLIVGGPUKIPCCNGPUVGNVFGXNCOJQQIVGKPPCCTIGNCPIFG
VGORGTCVWWTKPFGTWKOVG

2TQITCOOGTKPIXCPFGVKOGTHWPEVKG

&G6+/'4MPQR\QNCPIKPIGFTWMVJQWFGPVQVCCPFWKFKPI2MPKRRGTV
&CPOGVMPQRXQQTWTGPGPMPQRXQQTOKPWVGPFGKPUEJCMGNVKLFKPUVGNNGPGPFCPPQIOCCNU
6+/'4KPFTWMMGPVQV2XGTUEJKLPVFCPMCPOGPFGWKVUEJCMGNVKLFKPUVGNNGPFQQTPQIOCCNU
6+/'4VGFTWMMGPMCPOGPFGVKLFGPXQQTJGVVYGGFGRTQITCOOC22KPUVGNNGPCCPUNWKVGPF
OGV6+/'4DGXGUVKIGP$WKVGPFGIGRTQITCOOGGTFGVKLFGPXGTUEJKLPVJGVU[ODQQNKPDGGNF

)GDTWKMXCPFGXGTUEJKNNGPFGOQIGNKLMJGFGP

*CPFDGFKGPKPIXCPFGXNCOJQQIVG
KPFTWMMGPQOJGVXWWTKPVGUEJCMGNGPQHQOFGXNCOOGPVGXGTJQIGPKPFTWMMGPQOFG
XNCOOGPVGXGTMNGKPGPQHQOJGVVQGUVGNQRYCCMXNCOVG\GVVGP
$KLJGVKPFTWMMGPXCPFG\GMPQRRGPXGTUEJKLPVNKPMUDQXGPQRFGFKURNC[JGV\GPFVGMGPKUJGV
ICUXGPVKGNQR\KLPGKPFCCPUNCIFCPDGIKPVJGVNGFXCPFGQPVXCPIGTVGMPKRRGTGPOGPYGGVFCPFCV
OGPFGJQQIUVGQHNCCIUVGUVCPFDGTGKMVJGGHV
6GORGTCVWWTTGIGNKPI#761
#761MQTVKPFTWMMGPKPFGFKURNC[XGTUEJKLPVMQTVFGKPIGUVGNFGVGORGTCVWWTFCCTPCFGTWKOVG
VGORGTCVWWT


6JGDWTPGTECPCNUQDGFGCEVKXCVGFD[VWTPKPIVJGKIPKVKQPDWVVQP#
ENQEMYKUGCNNVJGYC[VQVJGGPFUVQR

&GCEVKXCVKPIVJGRKNQVHNCOG

$[RTGUUKPIVJGKIPKVKQPDWVVQP#NKIJVN[CPFVWTPKPIKVHWTVJGTENQEMYKUG[QW
YKNNFGCEVKXCVGVJGRKNQVHNCOG

7UGTKPUVTWEVKQPU

&QPQVRNCEGCP[EQODWUVKDNGQDLGEVUKPHTQPVQHQTKPUKFGVJGICUHKTGRNCEG
9JGPVJGHKTGJCUGZVKPIWKUJGF[QWOWUVYCKVCVNGCUVOKPWVGUDGHQTG[QW
KIPKVGKVCICKPEJGEMVCMKPIVJGHKTGRNCEGKPVQQRGTCVKQP
6QGPUWTGCIQQFHWPEVKQPKPIQHVJGICUHKTGRNCEGYGCFXKUG[QWVQJCXGKV
ENGCPGFCPFEJGEMGFD[CPCWVJQTKUGFHKVVGTCVNGCUVQPEGC[GCT
+HVJGHKTGKPVJGICUHKTGRNCEGGZVKPIWKUJGUTGRGCVGFN[[QWUJQWNFEQPUWNV[QWT
HKVVGT
6JGHTQPVQHVJGICUHKTGRNCEGKUTGICTFGFCUVJGJGCVGZEJCPIKPIUWTHCEG
9CTPKPIVJGHKTGRNCEGOC[PQVDGWUGFYJGPVJGINCUUYKPFQYKUDTQMGPQT
YJGPVJGFQQTKUQRGP6JGHKTGRNCEGOC[QPN[DGTGRCKTGFWUKPIQTKIKPCNRCTVU
UWRRNKGFD[VJGOCPWHCEVWTGTCPFTGRCKTUOC[QPN[DGFQPGD[CPCWVJQTKUGF
HKVVGT
;QWECPPQVCNVGTQTCFFCP[VJKPIVQVJGNQIUGVWPFGTCP[EKTEWOUVCPEG+HC
NQIKUDTQMGPKVUJQWNFDGTGRNCEGFD[CPQTKIKPCNQPGUWRRNKGFD[VJG
OCPWHCEVWTGT6QGZENWFGFCPIGTQHHKTGVJGFKUVCPEGDGVYGGPVJGHKTGRNCEG
CPFEQODWUVKDNGQDLGEVUQTHWTPKVWTGUJQWNFDGCVNGCUVEO6JGFKUVCPEG
DGVYGGPVJGDCEMQHVJGHKTGRNCEGCPFVJGYCNNUJQWNFDGCVNGCUVEO
+VKUKORQTVCPVVJCV[QWFQPQVWUGVJGHKTGRNCEGUJQTVN[CHVGTCTGPQXCVKQP
QTKPCPGYN[DWKNVJQWUG6JGCKTEKTEWNCVKQPUWEMUOQKUVWTGCPF
WPJCTFGPGFXQNCVKNGGNGOGPVUQHUVWEEQRCKPVHNQQTEQXGTKPIUCPFQVJGT
OCVGTKCNUKPVQVJGHKTGRNCEG6JKUOC[ECWUGUQQVUVCKPUQPEQNFUWTHCEGU

.12%'
.12%(

)GDTWKMUCCPYKL\KPICHUVCPFUDGFKGPKPI

+PUVGNNGPXCPFGFKURNC[XCP(JPCCT%JGPQOIGMGGTF
0CJGVRNCCVUGPXCPFGDCVVGTKLXCNMCNKPGQHFQQTJGVVGIGNKLMVKLFKIKPFTWMMGPXCPFGMPQRRGP
#761GP6+/'4DGIKPVFGCCPFWKFKPIVGMPKRRGTGPVKLFGPUJGVMPKRRGTGPXCPFGFKURNC[MCPOGP
QOUEJCMGNGPXCP(PCCT%FQQTJGVKPFTWMMGPXCPFG#761MPQRMCPOGPQOUEJCMGNGP
&GFKURNC[\CNPCGPKIGVKLFXCP\GNHYGGTQRJCPFDGFKGPKPIVGTWIMGTGPOGPMCPQQMFGMPQR
6+/'4KPFTWMMGP

+PUVGNNGPXCPFGVKLF
0CJGVRNCCVUGPXCPFGDCVVGTKLQHFQQTJGVIGNKLMVKLFKIKPFTWMMGPXCPFG#761GP6+/'4MPQR
DGIKPVFGFKURNC[VGMPKRRGTGPQOFGVKLFKPVGUVGNNGPOQGVOGPKPFTWMMGPQOFGWTGPKPVG
UVGNNGPGPOGVFGMPQRMCPOGPFGOKPWVGPKPUVGNNGPCCPUNWKVGPFYCEJVGPQHQRMPQR6+/'4
FTWMMGPQOYGGTQRJCPFDGFKGPKPIVGTWIVGMGTGP

+PUVGNNGPXCPFGIGYGPUVGVGORGTCVWWT

&G#761VQGVUPGV\QNCPIKPIGFTWMVJQWFGPVQVFGVGORCCPFWKFKPIMPKRRGTVFCPOGVVQGVU
QHFGVGORGTCVWWTJQIGTQHNCIGTKPUVGNNGP&CCTPCYCEJVGPQHMPQR#761KPFTWMMGPQOKP
FGCWVQOCVKUEJOQFWUVGMQOGP
&GUGPUQTKPFGCHUVCPFUDGFKGPKPIOGGVFGVGORGTCVWWTKPFGTWKOVGFG\GYQTFVOGVFGKPIGUVGNFG
VGORGTCVWWTXGTIGNGMGPFGQPVXCPIGTMTKLIVGGPUKIPCCNGPUVGNVFGXNCOJQQIVGKPPCCTIGNCPIFG
VGORGTCVWWTKPFGTWKOVG

2TQITCOOGTKPIXCPFGVKOGTHWPEVKG

&G6+/'4MPQR\QNCPIKPIGFTWMVJQWFGPVQVCCPFWKFKPI2MPKRRGTV
&CPOGVMPQRXQQTWTGPGPMPQRXQQTOKPWVGPFGKPUEJCMGNVKLFKPUVGNNGPGPFCPPQIOCCNU
6+/'4KPFTWMMGPVQV2XGTUEJKLPVFCPMCPOGPFGWKVUEJCMGNVKLFKPUVGNNGPFQQTPQIOCCNU
6+/'4VGFTWMMGPMCPOGPFGVKLFGPXQQTJGVVYGGFGRTQITCOOC22KPUVGNNGPCCPUNWKVGPF
OGV6+/'4DGXGUVKIGP$WKVGPFGIGRTQITCOOGGTFGVKLFGPXGTUEJKLPVJGVU[ODQQNKPDGGNF

)GDTWKMXCPFGXGTUEJKNNGPFGOQIGNKLMJGFGP

*CPFDGFKGPKPIXCPFGXNCOJQQIVG
KPFTWMMGPQOJGVXWWTKPVGUEJCMGNGPQHQOFGXNCOOGPVGXGTJQIGPKPFTWMMGPQOFG
XNCOOGPVGXGTMNGKPGPQHQOJGVVQGUVGNQRYCCMXNCOVG\GVVGP
$KLJGVKPFTWMMGPXCPFG\GMPQRRGPXGTUEJKLPVNKPMUDQXGPQRFGFKURNC[JGV\GPFVGMGPKUJGV
ICUXGPVKGNQR\KLPGKPFCCPUNCIFCPDGIKPVJGVNGFXCPFGQPVXCPIGTVGMPKRRGTGPOGPYGGVFCPFCV
OGPFGJQQIUVGQHNCCIUVGUVCPFDGTGKMVJGGHV
6GORGTCVWWTTGIGNKPI#761
#761MQTVKPFTWMMGPKPFGFKURNC[XGTUEJKLPVMQTVFGKPIGUVGNFGVGORGTCVWWTFCCTPCFGTWKOVG
VGORGTCVWWT



6KOGT6+/'4

#NUFGVKOGTOQFWUKUKPIGUEJCMGNFKUFGVGORGTCVWWTTGIGNKPIJGV\GNHFGCNUKPFG#761
OQFWUVKLFGPUFGWKVUEJCMGNVKLFGPUEJCMGNVFGOQVQTJGNVQGUVGNQRYCCMXNCO
6GTEQPVTQNGXCPFGKPIGUVGNFGVGORGTCVWWT#761KPFTWMMGPGPCCPUNWKVGPFKPFG6+/'4OQFWU
VGTWIMGTGP
6KLFGPUFGWKVUEJCMGNVKLFXKPFGTIGGPVGORGTCVWWTEQPVTQNGRNCCVUJGVDCVVGTKLXGTDTWKMXCPFG
\GPFGTKUFCCTFQQT\GGTIGTKPI
/GVFGVQGVUGPGPMQOVOGPXCPWKVGNMGOQFWUKPJCPFDGFKGPKPI
*GVYQTFVCCPDGXQNGPQOWKVVGUEJCMGNGPOGVFGVQGVUFG\GPFGTKUFCPPKGVCEVKGHGPDGNCUV
FCCTOGGFGDCVVGTKLGPPKGVQPPQFKI

9KUUGNGPXCPFGDCVVGTKLGP

#NUGT$#66TGEJVUDQXGPKPJGVFKURNC[XGTUEJKLPVQHCNUJGVNGFNCORLGQRFGQPVXCPIGTOKPFGT
FWKFGNKLMYQTFVOQGVFGDCVVGTKLXGTXCPIGPYQTFGP

8GKNKIJGKFUWKVUEJCMGNKPI
1PVXCPIVFGQPVXCPIGTWWTNCPIIGGPUKIPCCNFCPYQTFVJGVVQGUVGNCWVQOCVKUEJQRYCCMXNCO
IGFTCCKFCNUGTNCVGTYGGTGGPUKIPCCNMQOVYQTFVJGVVQGUVGNYGGTKPIGUEJCMGNF

#CPYKL\KPIGP

8QQTFCVOGP#761QH6+/'4KPUEJCMGNVOQGVOGPOGVFGVQGVUGPGPFGQPVXCPIUV
VGUVGPCNUQRFG\GPFGTJGV\GPFU[ODQQNXGTUEJKLPVOQGVQRFGQPVXCPIGTJGVNGFMPKRRGTGP

/GVFGVGORGTCVWWTTGIGNKPIYQTFVQXGTFGVKLFFCVFGOQVQTFTCCKVFGXNCOJQQIVGKPIGUVGNFFG\G
VKLFKUCHJCPMGNKLMXCPFGITQQVVGXCPJGVXGTVTGMYCCTJGVVQGUVGNUVCCVQRIGUVGNFXCPJGVXGTOQIGP
XCPJGVVQGUVGNGPDCVVGTKLUVGTMVGGVE
'GPOKETQRTQEGUUQTOGGVFGVGORGTCVWWTXGTJQIKPIRGTVKLFGPEQTTKIGGTVFGFTCCKVKLFXCPFGOQVQT
VKLFGPUFGXQNIGPFGXGTYCTOKPIUVKLFQOFGXNCOJQQIVGCCPFGYCTOVGDGJQGHVGCCPVGRCUUGP
#NUFGMNGKPUVCPFXQNFQGPFGKUQOJGVXGTVTGMQRVGYCTOGP\CNJGVVQGUVGNPCGPMGNGMGTGPQR
CWVQOCCVVGJGDDGPIGDTCPFVWUUGPMNGKPUVCPFGPWKVICCPDTCPFGP\QFCVJGVOQIGNKLMKUNCPIGTG
DTCPFVKLFGPGPGGPIGNKLMOCVKIGTGVGORGTCVWWTVGDGTGKMGP

$GPQFKIFGDCVVGTKLGPZXCNMCNKPGCHUVCPFDGFKGPKPIZCCXRGPNKVGQPVXCPIGT


+05647%6+10/#07#.
+PVJGOKFFNGQHVJGCRRCTCVWUDGJKPFVJGJCVEJCTGVJGOCKPEQPVTQNUQHVJGHKTGRNCEG

6CMKPIVJGHKTGRNCEGKPVQQRGTCVKQP

1RGPVJGICUVCRYJKEJKUOQWPVGFKPVJGICURKRGNGCFKPIVQVJGHKTGRNCEG
6WTPVJGKIPKVKQPDWVVQP#CPVKENQEMYKUGKPVJGFKTGEVKQPQHKIPKVGCNNVJG
YC[VQVJGGPFUVQRVJGPRTGUUKVCPFYCKVCHGYUGEQPFU0QYMGGRKVRTGUUGF
CPFVWTPKVHWTVJGTCPVKENQEMYKUGWPVKN[QWJGCTCENKEM
;QWYKNNDGCDNGVQUGGVJQWIJVJGINCUUYKPFQYKHVJGRKNQVHNCOGQPVJGNGHV
KPUKFGVJGHKTGRNCEGKUDWTPKPI
+HVJKUKUPQVVJGECUGTGRGCVVJGRTGXKQWUUGSWGPEG
+HVJGRKNQVHNCOGKUDWTPKPIMGGRVJGKIPKVKQPDWVVQPRTGUUGFHQTVJKTV[
UGEQPFUVJGPNGVKVIQ
6JGRKNQVHNCOGUJQWNFUVKNNDGDWTPKPI
0QYVWTPDWVVQP#HWTVJGTCPVKENQEMYKUGQPVJGDKIHNCOG
$WVVQP$ECPPQYDGUGVEQPVKPWQWUN[XCTKCDNGCVVJGFGUKTGFUGVVKPIDGVYGGP
JKIJCPFNQYWUKPIVJGTGOQVGEQPVTQN
;QWYKNNNGCTPYJKEJUGVVKPIKUOQUVUWKVCDNGHQT[QWTTQQOVJTQWIJGZRGTKGPEG
1RGTCVKPIVJGTGOQVGEQPVTQNKUGCU[2TGUUDWVVQP&VQUGVVJGHNCOGJKIJGT
RTGUUDWVVQP'VQUGVKVNQYGTQTUOQVJGTKV

&GCEVKXCVKPIVJGOCKPDWTPGT
-GGRDWVVQP'QHVJGOCKPEQPVTQNWPKVRTGUUGFWPVKNVJGNGFQPVJGTGEGKXGT
UVCTVUHNCUJKPI

.123$
.123%

6KOGT6+/'4

#NUFGVKOGTOQFWUKUKPIGUEJCMGNFKUFGVGORGTCVWWTTGIGNKPIJGV\GNHFGCNUKPFG#761
OQFWUVKLFGPUFGWKVUEJCMGNVKLFGPUEJCMGNVFGOQVQTJGNVQGUVGNQRYCCMXNCO
6GTEQPVTQNGXCPFGKPIGUVGNFGVGORGTCVWWT#761KPFTWMMGPGPCCPUNWKVGPFKPFG6+/'4OQFWU
VGTWIMGTGP
6KLFGPUFGWKVUEJCMGNVKLFXKPFGTIGGPVGORGTCVWWTEQPVTQNGRNCCVUJGVDCVVGTKLXGTDTWKMXCPFG
\GPFGTKUFCCTFQQT\GGTIGTKPI
/GVFGVQGVUGPGPMQOVOGPXCPWKVGNMGOQFWUKPJCPFDGFKGPKPI
*GVYQTFVCCPDGXQNGPQOWKVVGUEJCMGNGPOGVFGVQGVUFG\GPFGTKUFCPPKGVCEVKGHGPDGNCUV
FCCTOGGFGDCVVGTKLGPPKGVQPPQFKI

9KUUGNGPXCPFGDCVVGTKLGP

#NUGT$#66TGEJVUDQXGPKPJGVFKURNC[XGTUEJKLPVQHCNUJGVNGFNCORLGQRFGQPVXCPIGTOKPFGT
FWKFGNKLMYQTFVOQGVFGDCVVGTKLXGTXCPIGPYQTFGP

8GKNKIJGKFUWKVUEJCMGNKPI
1PVXCPIVFGQPVXCPIGTWWTNCPIIGGPUKIPCCNFCPYQTFVJGVVQGUVGNCWVQOCVKUEJQRYCCMXNCO
IGFTCCKFCNUGTNCVGTYGGTGGPUKIPCCNMQOVYQTFVJGVVQGUVGNYGGTKPIGUEJCMGNF

#CPYKL\KPIGP

8QQTFCVOGP#761QH6+/'4KPUEJCMGNVOQGVOGPOGVFGVQGVUGPGPFGQPVXCPIUV
VGUVGPCNUQRFG\GPFGTJGV\GPFU[ODQQNXGTUEJKLPVOQGVQRFGQPVXCPIGTJGVNGFMPKRRGTGP

/GVFGVGORGTCVWWTTGIGNKPIYQTFVQXGTFGVKLFFCVFGOQVQTFTCCKVFGXNCOJQQIVGKPIGUVGNFFG\G
VKLFKUCHJCPMGNKLMXCPFGITQQVVGXCPJGVXGTVTGMYCCTJGVVQGUVGNUVCCVQRIGUVGNFXCPJGVXGTOQIGP
XCPJGVVQGUVGNGPDCVVGTKLUVGTMVGGVE
'GPOKETQRTQEGUUQTOGGVFGVGORGTCVWWTXGTJQIKPIRGTVKLFGPEQTTKIGGTVFGFTCCKVKLFXCPFGOQVQT
VKLFGPUFGXQNIGPFGXGTYCTOKPIUVKLFQOFGXNCOJQQIVGCCPFGYCTOVGDGJQGHVGCCPVGRCUUGP
#NUFGMNGKPUVCPFXQNFQGPFGKUQOJGVXGTVTGMQRVGYCTOGP\CNJGVVQGUVGNPCGPMGNGMGTGPQR
CWVQOCCVVGJGDDGPIGDTCPFVWUUGPMNGKPUVCPFGPWKVICCPDTCPFGP\QFCVJGVOQIGNKLMKUNCPIGTG
DTCPFVKLFGPGPGGPIGNKLMOCVKIGTGVGORGTCVWWTVGDGTGKMGP

$GPQFKIFGDCVVGTKLGPZXCNMCNKPGCHUVCPFDGFKGPKPIZCCXRGPNKVGQPVXCPIGT


+05647%6+10/#07#.
+PVJGOKFFNGQHVJGCRRCTCVWUDGJKPFVJGJCVEJCTGVJGOCKPEQPVTQNUQHVJGHKTGRNCEG

6CMKPIVJGHKTGRNCEGKPVQQRGTCVKQP

1RGPVJGICUVCRYJKEJKUOQWPVGFKPVJGICURKRGNGCFKPIVQVJGHKTGRNCEG
6WTPVJGKIPKVKQPDWVVQP#CPVKENQEMYKUGKPVJGFKTGEVKQPQHKIPKVGCNNVJG
YC[VQVJGGPFUVQRVJGPRTGUUKVCPFYCKVCHGYUGEQPFU0QYMGGRKVRTGUUGF
CPFVWTPKVHWTVJGTCPVKENQEMYKUGWPVKN[QWJGCTCENKEM
;QWYKNNDGCDNGVQUGGVJQWIJVJGINCUUYKPFQYKHVJGRKNQVHNCOGQPVJGNGHV
KPUKFGVJGHKTGRNCEGKUDWTPKPI
+HVJKUKUPQVVJGECUGTGRGCVVJGRTGXKQWUUGSWGPEG
+HVJGRKNQVHNCOGKUDWTPKPIMGGRVJGKIPKVKQPDWVVQPRTGUUGFHQTVJKTV[
UGEQPFUVJGPNGVKVIQ
6JGRKNQVHNCOGUJQWNFUVKNNDGDWTPKPI
0QYVWTPDWVVQP#HWTVJGTCPVKENQEMYKUGQPVJGDKIHNCOG
$WVVQP$ECPPQYDGUGVEQPVKPWQWUN[XCTKCDNGCVVJGFGUKTGFUGVVKPIDGVYGGP
JKIJCPFNQYWUKPIVJGTGOQVGEQPVTQN
;QWYKNNNGCTPYJKEJUGVVKPIKUOQUVUWKVCDNGHQT[QWTTQQOVJTQWIJGZRGTKGPEG
1RGTCVKPIVJGTGOQVGEQPVTQNKUGCU[2TGUUDWVVQP&VQUGVVJGHNCOGJKIJGT
RTGUUDWVVQP'VQUGVKVNQYGTQTUOQVJGTKV

&GCEVKXCVKPIVJGOCKPDWTPGT
-GGRDWVVQP'QHVJGOCKPEQPVTQNWPKVRTGUUGFWPVKNVJGNGFQPVJGTGEGKXGT
UVCTVUHNCUJKPI

.123$
.123%