1RGTCVKQP
(GCVWTGU
;QWT ICTCIG FQQT QRGPGT KU GSWKRRGF YKVJ HGCVWTGU VQ RTQXKFG [QW YKVJ ITGCVGT EQPVTQN QXGT [QWT ICTCIG FQQT
QRGTCVKQP
/[3
/[3
VGEJPQNQI[ WUGU C /*\ UKIPCN VQ RTQXKFG VYQYC[ EQOOWPKECVKQP DGVYGGP VJG ICTCIG FQQT QRGPGT CPF
/[3
GPCDNGF CEEGUUQTKGU ;QWT ICTCIG FQQT QRGPGT KU EQORCVKDNG YKVJ WR VQ /[3
CEEGUUQTKGU (QT 5OCTVRJQPG
#RR EQPVTQN QH [QWT ICTCIG FQQT QRGPGT CPF QVJGT /[3
CEEGUUQTKGU %JCODGTNCKPU /[3
+PVGTPGV )CVGYC[ OQFGN
%+)$7 KU TGSWKTGF
6+/'461%.15' 66%
6JG 6KOGTVQ%NQUG HGCVWTG CWVQOCVKECNN[ ENQUGU VJG ICTCIG FQQT CHVGT C URGEKHKGF VKOG RGTKQF &1 016 GPCDNG66%
KH QRGTCVKPI C QPGRKGEGFQQT 66% KU VQ DG WUGF 10.; YKVJ UGEVKQPCN FQQTU (CEVQT[ FGHCWNV KU UGV VQ QHH 6JG
ICTCIG FQQT QRGPGT YKNN DGGR CPF VJG NKIJVU YKNN HNCUJ DGHQTG ENQUKPI VJG FQQT 6JG 66% HGCVWTG YKNN FGCEVKXCVG KH VJG
ICTCIG FQQT GPEQWPVGTU CP QDUVTWEVKQP VYKEG QT VJG UCHGV[ TGXGTUKPI UGPUQTU CTG KPEQTTGEVN[ KPUVCNNGF 6JG ICTCIG
FQQT YKNN TGXGTUG QRGP CPF 9+.. 016 ENQUG WPVKN VJG QDUVTWEVKQPU CTG ENGCT QT VJG UCHGV[ TGXGTUKPI UGPUQTU CTG
EQTTGEVN[ KPUVCNNGF 9JGP VJG QDUVTWEVKQP JCU DGGP ENGCTGF QT VJG UCHGV[ TGXGTUKPI UGPUQTU JCXG DGGP CNKIPGF VJG FQQT
YKNN ENQUG YJGP VJG ICTCIG FQQT QRGPGT KU CEVKXCVGF 66% 9+.. 016 YQTM KH VJG ICTCIG FQQT QRGPGT KU QRGTCVKPI D[
DCVVGT[ RQYGT QT KH VJG UCHGV[ TGXGTUKPI UGPUQTU CTG OKUCNKIPGF 6JKU HGCVWTG KU 016 KPVGPFGF VQ DG VJG RTKOCT[
OGVJQF QH ENQUKPI VJG FQQT # MG[NGUU GPVT[ UJQWNF DG KPUVCNNGF KP VJGGXGPV QH CP CEEKFGPVCN NQEM QWV YJGP
WUKPI VJKUHGCVWTG
4'/16' %10641.5 #0& &114 %10641.5 /[3
;QWT ICTCIG FQQT QRGPGT JCU CNTGCF[ DGGP RTQITCOOGF CV VJG HCEVQT[ VQ QRGTCVG YKVJ [QWT TGOQVG EQPVTQN YJKEJ
EJCPIGU YKVJ GCEJ WUG TCPFQON[ CEEGUUKPI QXGT DKNNKQP PGY EQFGU %QORCVKDNG YKVJ /[3
GPCDNGF CEEGUUQTKGU
UGG RCIG
016' 1NFGT %JCODGTNCKP TGOQVG EQPVTQNU FQQT EQPVTQNU CPF VJKTF RCTV[ RTQFWEVU CTG PQV EQORCVKDNG
/[3
#EEGUUQTKGU
/'/14; %#2#%+6;
4GOQVG %QPVTQNU 7R VQ
&QQT %QPVTQNU
7RVQ /[3
FQQT EQPVTQNU
-G[NGUU 'PVTKGU 7R VQ
6*' 2416'%6145;56'/
5#('6; 4'8'45+0) 5'05145
9JGP RTQRGTN[ EQPPGEVGF CPF CNKIPGF VJG UCHGV[ TGXGTUKPI UGPUQTU YKNN FGVGEV CP QDUVTWEVKQP KP VJG RCVJ QH VJG
KPHTCTGF DGCO +H CP QDUVTWEVKQP DTGCMU VJG KPHTCTGF DGCO YJKNG VJG FQQT KU ENQUKPI VJG FQQT YKNN UVQR CPF TGXGTUG VQ
HWNN QRGP RQUKVKQP CPF VJG QRGPGT NKIJVU YKNN HNCUJ VKOGU +H VJG FQQT KU HWNN[ QRGP CPF VJG UCHGV[ TGXGTUKPI UGPUQTU
CTG PQV KPUVCNNGF QT CTG OKUCNKIPGF VJG FQQT YKNN PQV ENQUG HTQO C TGOQVG EQPVTQN *QYGXGT [QW ECP ENQUG VJG FQQT KH
[QW JQNF VJG DWVVQP QP VJG FQQT EQPVTQN QT MG[NGUU GPVT[ WPVKN VJG FQQT KU HWNN[ ENQUGF 6JG UCHGV[ TGXGTUKPI UGPUQTU FQ
PQV GHHGEV VJG QRGPKPI E[ENG
'0'4); %105'48#6+10
(QT GPGTI[ GHHKEKGPE[ VJG ICTCIG FQQT QRGPGT YKNN GPVGT UNGGR OQFG YJGP VJG FQQT KU HWNN[ ENQUGF 6JG UNGGR OQFG
UJWVU VJG ICTCIG FQQT QRGPGT FQYP WPVKN CEVKXCVGF 6JG UNGGR OQFG KU UGSWGPEGF YKVJ VJG ICTCIG FQQT QRGPGT NKIJV
DWND CU VJG NKIJV DWND VWTPU QHH VJG UGPUQT .'&U YKNN VWTP QHH CPF YJGPGXGT VJG ICTCIG FQQT QRGPGT NKIJVU VWTP QP VJG
UGPUQT .'&U YKNN NKIJV 6JG ICTCIG FQQT QRGPGT YKNN PQV IQ KPVQ VJG UNGGR OQFG WPVKN VJG ICTCIG FQQT QRGPGT JCU
EQORNGVGF E[ENGU WRQP RQYGT WR
.+)*65
6JG ICTCIG FQQT QRGPGT NKIJV DWNDU YKNN VWTP QP YJGP VJG QRGPGT KU KPKVKCNN[ RNWIIGF KP RQYGT KU TGUVQTGF CHVGT
KPVGTTWRVKQP QT YJGP VJG ICTCIG FQQT QRGPGT KU CEVKXCVGF 6JG NKIJVU YKNN VWTP QHH CWVQOCVKECNN[ CHVGT OKPWVGU #P
KPECPFGUEGPV # NKIJV DWND YCVV OCZKOWO QT HQT OCZKOWO GPGTI[ GHHKEKGPE[ C 9 9 GSWKXCNGPV EQORCEV
HNWQTGUEGPV NKIJV %(. DWND OC[ DG WUGF 016' &Q PQV WUG JCNQIGP UJQTV PGEM QT URGEKCNV[ NKIJV DWNDU CU VJGUG
OC[ QXGTJGCV VJG GPF RCPGN QT NKIJV UQEMGV &Q PQV WUG .'& DWNDU CU VJG[ OC[ TGFWEG VJG TCPIG QT RGTHQTOCPEG QH
[QWT TGOQVG EQPVTQNU
.KIJV (GCVWTG
6JG ICTCIG FQQT QRGPGT KU GSWKRRGF YKVJ CP CFFGF HGCVWTG VJG NKIJVU YKNN VWTP QP YJGP UQOGQPG GPVGTU VJTQWIJ VJG
QRGP ICTCIG FQQT CPF VJG UCHGV[ TGXGTUKPI UGPUQT KPHTCTGF DGCO KU DTQMGP (QT CFFGF EQPVTQN QXGT VJG NKIJV DWNDU QP
[QWT ICTCIG FQQT QRGPGT UGG RCIGU RCIG CPF RCIG
$#66'4; $#%-72
6JGDCVVGT[ DCEMWR U[UVGO CNNQYU CEEGUU KP CPF QWV QH [QWT ICTCIG GXGP YJGP VJG RQYGT KU QWV 9JGP VJG ICTCIG
FQQT QRGPGT KU QRGTCVKPI QP DCVVGT[ RQYGT VJG ICTCIG FQQT QRGPGT YKNN TWP UNQYGT VJG NKIJV YKNN PQV HWPEVKQP VJG
$CVVGT[ 5VCVWU .'& YKNN INQY UQNKF QTCPIG CPF C DGGR YKNN UQWPF CRRTQZKOCVGN[ GXGT[ UGEQPFU