/+6'45#95#('6;
52'%+(+%5#('6;+05647%6+105(146*+5
%1/2170&/+6'45#9
&101675'6*+0-'4($.#&'5VJG[ECPFGƀGEV
CPFEQPVCEVIWCTFCPFECPECWUGRQUUKDNGKPLWT[VQ
VJGQRGTCVQT
&1016QRGTCVGVJGOKVGTUCYWPVKNKVKUEQORNGVGN[
CUUGODNGFCPFKPUVCNNGFCEEQTFKPIVQVJGUG
KPUVTWEVKQPU
+(;17#4'016VJQTQWIJN[HCOKNKCTYKVJVJG
QRGTCVKQPQHOKVGTUCYUUGGMIWKFCPEGHTQO[QWT
UWRGTXKUQTKPUVTWEVQTQTQVJGTSWCNKſGFRGTUQP
#.9#;5JQNFVJGYQTMſTON[CICKPUVVJGHGPEGCPF
VCDNG&1016RGTHQTOCP[QRGTCVKQPHTGGJCPFWUG
ENCORYJGTGXGTRQUUKDNG
-''2*#0&5QWVQHVJGRCVJQHVJGUCYDNCFG+HVJG
YQTMRKGEG[QWCTGEWVVKPIYQWNFECWUG[QWTJCPFU
VQDGYKVJKPKPOOQHVJGUCYDNCFGVJG
YQTMRKGEGUJQWNFDGENCORGFKPRNCEGDGHQTGOCMKPI
VJGEWV
$'574'VJGDNCFGKUUJCTRTWPUHTGGN[CPFKUHTGG
QHXKDTCVKQP
#..19VJGOQVQTVQEQOGWRVQHWNNURGGFDGHQTG
UVCTVKPICEWV
-''26*'/1614#+45.165%.'#0CPFHTGGQH
EJKRUQTFWUV
#.9#;5/#-'574'CNNJCPFNGUCTGVKIJVDGHQTG
EWVVKPIGXGPKHVJGVCDNGKURQUKVKQPGFKPQPGQHVJG
RQUKVKXGUVQRU
$'574'DQVJVJGDNCFGCPFVJGEQNNCTCTGENGCP
CPFVJGCTDQTDQNVKUVKIJVGPGFUGEWTGN[
75'QPN[DNCFGEQNNCTUURGEKſGFHQT[QWTUCY
0'8'4WUGDNCFGUNCTIGTKPFKCOGVGTVJCP
KPOO
0'8'4CRRN[NWDTKECPVUVQVJGDNCFGYJGPKVKU
TWPPKPI
#.9#;5EJGEMVJGDNCFGHQTETCEMUQTFCOCIG
DGHQTGQRGTCVKQP4GRNCEGCETCEMGFQTFCOCIGF
DNCFGKOOGFKCVGN[
0'8'4WUGDNCFGUTGEQOOGPFGFHQTQRGTCVKQPCV
NGUUVJCP42/
#.9#;5MGGRVJGDNCFGIWCTFUKPRNCEGCPFWUGCV
CNNVKOGU
0'8'4TGCEJCTQWPFVJGUCYDNCFG
/#-'574'VJGDNCFGKUPQVEQPVCEVKPIVJG
YQTMRKGEGDGHQTGVJGUYKVEJKUVWTPGF10
+/2146#06#HVGTEQORNGVKPIVJGEWVTGNGCUGVJG
VTKIIGTCPFYCKVHQTVJGDNCFGVQUVQRDGHQTGTGVWTPKPI
VJGUCYVQVJGTCKUGFRQUKVKQP
/#-'574'VJGDNCFGJCUEQOGVQCEQORNGVG
UVQRDGHQTGTGOQXKPIQTUGEWTKPIVJGYQTMRKGEG
EJCPIKPIVJGYQTMRKGEGCPINGQTEJCPIKPIVJGCPING
QHVJGDNCFG
0'8'4EWVOGVCNUQTOCUQPT[RTQFWEVUYKVJVJKU
VQQN6JKUOKVGTUCYKUFGUKIPGFHQTWUGQPYQQFCPF
YQQFNKMGRTQFWEVU
0'8'4EWVUOCNNRKGEGU+HVJGYQTMRKGEGDGKPIEWV
YQWNFECWUG[QWTJCPFQTſPIGTUVQDGYKVJKP
KPOOQHVJGUCYDNCFGVJGYQTMRKGEGKU
VQQUOCNN
2418+&'CFGSWCVGUWRRQTVVQVJGUKFGUQHVJGUCY
VCDNGHQTNQPIYQTMRKGEGU
0'8'4WUGVJGOKVGTUCYKPCPCTGCYKVJƀCOOCDNG
NKSWKFUQTICUGU
0'8'4WUGUQNXGPVUVQENGCPRNCUVKERCTVU5QNXGPVU
EQWNFRQUUKDN[FKUUQNXGQTQVJGTYKUGFCOCIGVJG
OCVGTKCN
5*761((VJGRQYGTDGHQTGUGTXKEKPIQTCFLWUVKPI
VJGVQQN
&+5%100'%6VJGUCYHTQOVJGRQYGTUQWTEGCPF
ENGCPVJGOCEJKPGYJGPſPKUJGFWUKPI
/#-'574'VJGYQTMCTGCKUENGCPDGHQTGNGCXKPI
VJGOCEJKPG
5*17.&CP[RCTVQH[QWTOKVGTUCYDGOKUUKPI
FCOCIGFQTHCKNKPCP[YC[QTCP[GNGEVTKECN
EQORQPGPVHCKNVQRGTHQTORTQRGTN[NQEMVJGUYKVEJ
CPFTGOQXGVJGRNWIHTQOVJGRQYGTUWRRN[QWVNGV
4GRNCEGOKUUKPIFCOCIGFQTHCKNGFRCTVUDGHQTG
TGUWOKPIQRGTCVKQP