Bosch WFMC2201UC/15 27 Inch Front Load Washer

Product's Documents

Below are documents related to this product, you can read online or download:
User Manual Installation Instruction
  • Installation Instructions - (English) Download
Specification Energy Guide
WFMC2201UC/15 photo

Operating, Care and Installation Instructions

This is the main product document for model WFMC2201UC/15. Series: Nexxt 300
Additionally, the document applies to other Bosch models: WFMC2201UC

The file format is pdf, 92 pages, you can download this manual here .

background
Bosch Nexxt
®
300 Series Washer
Models / Modèle / Modelo:
WFMC2201UC
en Operating, Care and Installation Instructions
fr Seche-linge: Notice d’utilsation, de maintenance et d’installation
es Secador: Operacíon, cuidado y instrucciones para la instalación
background
51DEB5C 1>4 5>569DC ?6 /?EB $5G -1C85B
)$)%+)&% 
R
+97<BC@C;M
+<9 CG7< )$)%+)&% 
R
H97<BC@C;M CDH=A=N9G H<9
K5G< DFC79GG 5H 9J9FM GH5;9 C: H<9 7M7@9 6M G9BG=B; @C58
G=N9 K5H9F @9J9@ 5B8 H9AD9F5HIF9 B998G :CF GID9F=CF F9GI@HG
=;=H5@ G9BGCFG 75F9 :CF 5@@ :56F=7G =B7@I8=B; KCC@ AC<5=F
5B8 G=@? +<=G A57<=B9 J=FHI5@@M CD9F5H9G 5H H<9 HCI7< C: 5
6IHHCB
H3<EC9F5 9>75 1>4 1C;5D )ICD5=
F9=B:CF798 <=B;9 5B8 5 B9K F9JC@IH=CB5FM ;5G?9H 89G=;B
?99D H<9 8CCF G<IH +<9M 5@GC G95@ =B H<9 <95H 5@@CK=B; MCIF
@5IB8FM HC F957< H<9 CDH=AIA H9AD9F5HIF9 K<=7< 9@=A=B5H9G
9J9B H<9 HCI;<9GH GH5=BG
&1BD 5D5B75>D 9C@5>C5B
D5FH 8=GD9BG9F 5IHCA5H=75@@M 8=GHF=6IH9G H<9 5DDFCDF=5H9
5ACIBHG C: 89H9F;9BH 6@957< 5B8 GC:H9B9F 5H 9L57H@M H<9
F=;<H H=A9G B8 KCF?=B; HC;9H<9F K=H< CIF IB=EI9 GI8G
G9BGCF MCI 75B 69 GIF9 MCIF 7@CH<=B; =G F=BG98 7CAD@9H9@M
7@95B
!))t M7@9
+<9 @=HH@9GH D9CD@9 =B H<9 <CIG9 IGI5@@M 577CIBH :CF H<9
HCI;<9GH GH5=BG +<=G 7M7@9 <95HG H<9 K5G< K5H9F ID HC S
HC F9ACJ9 9J9B H<9 ACGH GHI66CFB GH5=BG K=H< 95G9
B3895 &144<5C
G MCIF K5G< ;9BH@M HIA6@9G F7<=9 D588@9G 75G7589 K5H9F
:FCA <=;< 56CJ9 F=BG=B; 5K5M GI8G 5B8 ;=J=B; MCIF @5IB8FM
5 7CAD@9H9 9J9B 7@95B B =B7@=B98 8FIA KCF?G K=H< H<9A
HC 9BGIF9 BCH 5 G=B;@9 G<=FH ;C9G IBHIFB98
)D19><5CC )D55< BE=
+<9 %9HHH K5G<9F 8FIA <5G <IB8F98G C: GACCH< 8CI6@9
DIB7<98 <C@9G K<=7< 5@@CK MCIF ;5FA9BHG HC ;9BH@M HIA6@9
7CAD@9H9@M GB5;:F99
>D5B>1< -1D5B 51D5B
B BH9FB5@ 95H=B; @9A9BH <95HG H<9 K5H9F HC ID HC S
K<=@9 5 =;=H5@ +9AD9F5HIF9 *9BGCF 7CBH=BI5@@M ACB=HCFG H<9
K5H9F H9AD9F5HIF9 CG7< %9LLH
R
K5G<9FG 89@=J9F H<9
ACGH 9::=7=9BH 5B8 577IF5H9 K5H9F <95H=B; A9H<C8 :CF 957<
G9@97H98 :56F=7 HMD9
'E95D &5B6?B=1>35
CG7< @5IB8FM 5DD@=5B79G IG9 6FIG<@9GG ACHCFG
GIGD9B898 DIAD GMGH9AG 5B8 GD97=5@ GCIB889589B=B;
A5H9F=5@ HC ?99D H<9A 9L79DH=CB5@@M EI=9H K<=@9 =B CD9F5H=CB
.<=7< A95BG H<9M 75B 69 =BGH5@@98 J=FHI5@@M 5BMK<9F9 =B H<9
<CA9 K=H<CIH 75IG=B; 5 8=GHIF65B79
)/$(%t +97<BC@C;M
$5B5;9 MCIF K5G<9F 5B8 8FM9F H=A9G K=H< H<9 )/$(%t
+97<BC@C;M &D9F5H=CB #C;=7 +<9 %9HHH
R
FM9FG 7CCF8=B5H9
K=H< H<9 GD=B GD998 C: H<9 K5G<9F 65G98 IDCB H<9 :56F=7
G9HH=B; 5B8 K5H9F H9AD9F5HIF9 C: MCIF K5G< @C58 +<9F9:CF9
MCIF K5G< D=@9 KCBH GH57? ID 5G MCI K5=H :CF MCIF 8FM9F HC
:=B=G< =HG 7M7@9
background
*12<5 ?6 ?>D5>DC
569>9D9?>C
#&%(*$* )*/ $)*(+*%$)
)&,% % %*+),+ &%*
$)*""*%$ $)*(+*%$
BHFC8I7H=CB
B:CFA5H=CB 7CB79FB=B; K5GH9 8=GDCG5@
BH9B898 IG9
BJ=FCBA9BH5@ 'FCH97H=CB CBG9FJ5H=CB GGI9G
57HCFMsGIDD@=98 9EI=DA9BH
=A9BG=CBG
BGH5@@5H=CB 5F95
)9ACJ=B; H<9 HF5BGDCFH 6C@HG
.5H9F 7CBB97H=CB
CG9 5B8 756@9 @9B;H<G 
@97HF=75@ 7CBB97H=CB 
#9J9@=B; DFC798IF9 
+F5BGDCFH GI7< 5G K<9B ACJ=B; CIH 
%&(*$ $)*(+*%$ 
0CIF B9K K5G<9F 
'5B9@ 
*IAA5FM C: BGHFI7H=CBG 
56?B5 +C9>7 ?B D85 9BCD *9=5 
+C9>7 ?B D85 9BCD *9=5 
=FGH K5G<=B; 7M7@9 K=H<CIH@5IB8FM 
'F9D5F=B; H<9 @5IB8FM 
*CFH=B; H<9 @5IB8FM 
9;F99G C: GC=@=B; 
#C58=B; H<9 @5IB8FM 
"1E>4BI 5D5B75>DC 1>4 449D9F5C 
=GD9BG=B; H<9 7CFF97H 5ACIBH C: 89H9F;9BH 
=@@=B; @5IB8FM 89H9F;9BH 5B8CF 588=H=J9G 
97C@CF=N=B; 
&B?7B1=C 1>4E>3D9?>C 
5G=7 DFC;F5AG 
*D97=5@ DFC;F5AG 
$C8=:=9FG 
&DH=CB 6IHHCBG 
7CIGH=7 *=;B5@ 
B8=75HCF @=;<H 56CJ9 H<9 O*H5FH'5IG9 6IHHCB 
*D97=5@ :95HIF9G 
-1C89>7 
EB9>7 -1C89>7 
<5B;=B; 5 DFC;F5A 
88 5 ;5FA9BH BH9FFIDH=B; H<9 DFC;F5A 
5B79@=B; 57H=J9 DFC;F5A 
6D5B -1C89>7 
<51>9>7 1>4 1B5 
@95B=B; H<9 K5G<9F 
9G75@=B; H<9 K5G<=B; A57<=B9 
*B?E2<5C8??D9>7 ?6 #9>?B 1E<DC 
ECD?=5B )5BF935 
)**#$* % "#* &(%+* -(($*/ 
)**#$* % -(($*) %( %) "%*) -)() 
L7@IG=CBG 
&B?7B1= )5<53D9?> *12<5 
background
CB;F5HI@5H=CBG
+<9 B9K K5G<=B; A57<=B9 MCI >IGH
DIF7<5G98 =G 5 AC89FB <=;< EI5@=HM
8CA9GH=7 5DD@=5B79
+<=G AC89FB K5G<=B; A57<=B9 7@95BG
MCIF @5IB8FM IG=B; H<9 ACGH
GCD<=GH=75H98 K5G<=B; DFC79GG9G
HCC6H5=B GID9F=CF 7@95B=B; F9GI@HG
L79@@9BH 9B;=B99F=B; 5B8 F9@=56=@=HM
F98I79G CD9F5H=B; 7CGHG G=;B=:=75BH@M
B 95GM CD9F5H=CB D<=@CGCD<M 5J5F=9HM
C: 7IGHCA=N98 K5G<=B; DFC;F5AG 5B8 5
GC@=8 HCI7< 5B8 :99@A5?9G H<=G
5DD@=5B79 5 IG9Fb:F=9B8@M 5GG=GH5BH =B
MCIF <CIG9<C@8
H C::9FG H<9 :C@@CK=B; GH5B85F8 :95HIF9G
#CK BC=G9 @9J9@ :CF K5G<=B;
5B8GD=BB=B;
=;< 8CCF K=H< DI@@s@C7? A5;B9H=7
8CCF @C7?
CCF CD9B=B;  =B7<9G 7A
EI5@=HM GHIF8M <=B;9 CD9B=B; 5B;@9
S
FIA 75D57=HM  @6G  ?; :CF
F9;I@5F 7CHHCB
57< K5G<=B; A57<=B9 K<=7< @95J9G
CIF :57HCFM <5G IB89F;CB9 5H<CFCI;<
D9F:CFA5B79 H9GH 5B8 =G=B :I@@ KCF?=B;
7CB8=H=CB +<95DD@=5B79 A5M 7CBH5=B
F9G=8I5@K5H9F 8I9 HC H<9 H9GH=B;
DFC798IF9G : MCI <5J9 5BM EI9GH=CBG
7CB79FB=B; =BGH5@@5H=CB C: H<9 K5G<=B;
A57<=B9 CIF 7IGHCA9F G9FJ=79 K=@@ 69
<5DDM HC 58J=G9 MCI
IFH<9F =B:CFA5H=CB 5B8 5 G9@97H=CB C:
CIF DFC8I7HG 75B 69 :CIB8 CB CIF .96
G=H9 KKK6CG7<5DD@=5B79G7CA
'@95G9 F958 5B8 :C@@CK H<9G9 CD9F5H=B;
5B8 =BGH5@@5H=CB =BGHFI7H=CBG 5@CB; K=H<
5@@ CH<9F =B:CFA5H=CB 9B7@CG98 K=H< H<9
K5G<=B; A57<=B9
+<9G9 CD9F5H=B; 5B8 =BGH5@@5H=CB
=BGHFI7H=CBG 89G7F=69 J5F=CIG AC89@G
=::9F9B79G 5F9 =B8=75H98 =B H<9
5DDFCDF=5H9 D@579G
+<9 =@@IGHF5H=CBG A5M G<CK 8=::9F9BH
89H5=@G H<5B MCIF K5G<9F
569>9D9?>C
d
-($$
d
-($$ +<=G =B8=75H9G H<5H
895H< CF G9F=CIG =B>IF=9G A5M
C77IF 5G 5 F9GI@H C:
BCBsC6G9FJ5B79 C: H<=G K5FB=B;
d
+*%$
+*%$ +<=G =B8=75H9G H<5H
=B>IF=9G A5M C77IF 5G 5 F9GI@H C:
BCBsC6G9FJ5B79 C: H<=G K5FB=B;
**$*%$
**$*%$ +<=G =B8=75H9G
H<5H 85A5;9 A5M C77IF 5G 5
F9GI@H C: BCBsC6G9FJ5B79 C: H<=G
K5FB=B;
i
+<=G GMA6C@ =G IG98 HC 8F5K H<9
IG9FG 5HH9BH=CB HC =ADCFH5BH
A5HH9FG
d #&%(*$* )*/ $)*(+*%$)
d
-($$
d
+C F98I79 H<9 F=G? C: :=F9 9@97HF=7
G<C7? G9F=CIG =B>IFM CF 895H< K<9B
IG=B; MCIF K5G<=B; A57<=B9 :C@@CK
65G=7 DF975IH=CBG =B7@I8=B; H<9
:C@@CK=B;
 &* K5G<9FG 5F9 DFCJ=898 K=H<
5B &D9F5H=B; 5F9 5B8 BGH5@@5H=CB
BGHFI7H=CBG $5BI5@ )958 5B8
IB89FGH5B8 5@@ =BGHFI7H=CBG 69:CF9
IG=B; H<9 K5G<=B; A57<=B9
 C BCH K5G< 5FH=7@9G H<5H <5J9
699B DF9J=CIG@M 7@95B98 K5G<98
GC5?98 CF GDCHH98 K=H< ;5GC@=B9
8FM 7@95B=B; GC@J9BHG CH<9F
:@5AA56@9 CF 9LD@CG=J9
GI6GH5B79G 5G H<9M ;=J9 C:: J5DCFG
H<5H 7CI@8 =;B=H9 CF 9LD@C89
 C BCH 588 ;5GC@=B9 8FM 7@95B=B;
GC@J9BHG CF CH<9F :@5AA56@9 CF
9LD@CG=J9 GI6GH5B79G HC H<9 K5G<
K5H9F +<9G9 GI6GH5B79G ;=J9 C::
J5DCFG H<5H 7CI@8 =;B=H9 CF
9LD@C89
 ,B89F 79FH5=B 7CB8=H=CBG <M8FC;9B
;5G A5M 69 DFC8I798 =B 5 <CH
K5H9F GMGH9A H<5H <5G BCH 699B
IG98 :CF K99?G CF ACF9
0)&% * * /'#&* -
: H<9 <CH K5H9F GMGH9A <5G BCH
699B IG98 :CF H<=G @9B;H< C: H=A9
HIFB CB 5@@ <CH K5H9F :5I79HG 5B8
@9H H<9 K5H9F :@CK CIH C: 957<
:5I79H :CF G9J9F5@ A=BIH9G 69:CF9
IG=B; H<9 K5G<=B; A57<=B9 +<=G
K=@@ F9@95G9 5BM 577IAI@5H98
<M8FC;9B ;5G GH<9 ;5G =G
:@5AA56@9 8CBCHGAC?9 CF IG9
5B CD9B :@5A9 K<=@9 75FFM=B; CIH
H<=G DFC798IF9
 9:CF9 H<9 5DD@=5B79 =G F9ACJ98
:FCA G9FJ=79 CF 8=G75F898 F9ACJ9
H<9 8CCF 5B8 H<9 DCK9F 7CF8D@I;
 C BCH F957< =BHC H<9 5DD@=5B79 =:
H<9 K5G< 8FIA =G ACJ=B;
 C BCH =BGH5@@ CF GHCF9 H<=G
5DD@=5B79 K<9F9 =H K=@@ 69 9LDCG98
HC H<9 K95H<9F
 C BCH H5AD9F K=H< H<9 7CBHFC@G
 C BCH F9D5=F CF F9D@579 5BM D5FH C:
H<9 5DD@=5B79 CF 5HH9ADH 5BM
G9FJ=79 IB@9GG GD97=:=75@@M
F97CAA9B898 =B H<9 IG9F
A5=BH9B5B79 =BGHFI7H=CBG CF =B
DI6@=G<98 IG9F F9D5=F =BGHFI7H=CBG
H<5H MCI IB89FGH5B8 5B8 <5J9 H<9
G?=@@G HC 75FFM CIH
 @K5MG IBD@I; H<9 K5G<=B;
A57<=B9 :FCA H<9 DCK9F GIDD@M
69:CF9 5HH9ADH=B; 5BM G9FJ=79
=G7CBB97H H<9 DCK9F 7CF8 6M
;F5GD=B; H<9 D@I; BCH H<9 7CF8
 +C F98I79 H<9 F=G? C: :=F9 7@CH<9G
7@95B=B; F5;G ACD <958G 5B8 H<9
@=?9 K<=7< <5J9 699B GC=@98 K=H<
5BM :@5AA56@9 GI6GH5B79 GI7< 5G
J9;9H56@9 C=@ 7CC?=B; C=@
D9HFC@9IA 65G98 C=@G CF 8=GH=@@5H9G
K5L9G :5HG 9H7 AIGH AIGH 69
?9DH 5K5M :FCA 5BM GCIF79 C:
=;B=H=CB =B7@I8=B; 5 7@CH<9G 8FM9F
+<9G9 =H9AG A5M 7CBH5=B
:@5AA56@9 GI6GH5B79G K<=7<
9J9B 5:H9F K5G<=B; A5M GAC?9 CF
75H7< :=F9
 C BCH A57<=B9 K5G< :=69F;@5GG
A5H9F=5@G GI7< 5G 7IFH5=BG 5B8
K=B8CK 7CJ9F=B;G H<5H IG9
:=69F;@5GG A5H9F=5@G *A5@@
D5FH=7@9G A5M F9A5=B =B H<9
K5G<=B; A57<=B9 5B8 GH=7? HC
:56F=7G =B GI6G9EI9BH K5G< @C58G
75IG=B; G?=B =FF=H5H=CB
background
 .<9B 7<=@8F9B 697CA9 C@8
9BCI;< HC CD9F5H9 H<9 5DD@=5B79 =H
=G H<9 @9;5@ F9GDCBG=6=@=HM C: H<9
D5F9BHG CF @9;5@ ;I5F8=5BG HC
9BGIF9 H<5H H<9M 5F9 =BGHFI7H98 =B
G5:9 DF57H=79G 6M EI5@=:=98
D9FGCBG
 C BCH 5@@CK 7<=@8F9B HC D@5M CB CF
K=H< H<9 5DD@=5B79 @CG9
GID9FJ=G=CB C: 7<=@8F9B =G
B979GG5FM K<9B H<9 5DD@=5B79 =G
IG98 B95F 7<=@8F9B
 "99D D9HG 5K5M :FCA H<9 K5G<=B;
A57<=B9
 C BCH =BG9FHDI@@ CIH H<9 DCK9F
D@I; K=H< K9H <5B8G
 C BCH HCI7< H<9 8CCF =: K5G<=B;
5H <=;< H9AD9F5HIF9G
 ,G9 75IH=CB K<9B 8F5=B=B; <CH
K5H9F
 C BCH 7@=A6 CBHC H<9 K5G<=B;
A57<=B9 5B8CF @95B CB H<9 CD9B
8CCF
 C BCH G=H CF GH5B8 CB H<9 HCD C:
H<9 K5G<=B; A57<=B9
 +C F98I79 H<9 F=G? C: :=F9 CF
9@97HF=75@ G<C7? & %&+ IG9 5B
9LH9BG=CB 7CF8 CF 5B 585DH9F HC
7CBB97H H<9 K5G<=B; A57<=B9 HC
H<9 DCK9F GIDD@M
 +<9 K5G<=B; A57<=B9 AIGH CB@M
69 IG98 :CF =HG =BH9B898 DIFDCG9
 @K5MG :C@@CK H<9 :56F=7 75F9
=BGHFI7H=CBG F97CAA9B898 6M H<9
7@CH<=B; A5BI:57HIF9F
 C BCH IG9 H<9 K5G<=B; A57<=B9 =:
=H <5G 5 KCFB DCK9F 7CF8 CF @CCG9
D@I; : H<=G =G H<9 75G9 7CBH57H 5B
5IH<CF=N98 G9FJ=79 5;9BH
 $5?9 GIF9 H<5H 5@@ K5H9F
7CBB97H=CBG HC H<9 K5G<=B;
A57<=B9 <5J9 G<IHsC:: J5@J9G H<5H
5F9 F958=@M 5779GG=6@9 @CG9 H<9
K5G<=B; A57<=B9 K5H9F G<IHsC::
J5@J9G 5H H<9 9B8 C: 957< K5G<
85M
 <97? H<9 :=@@ <CG9 7CBB97H=CBG CB
5 F9;I@5F 65G=G HC 9BGIF9 H<5H H<9M
5F9 H=;<H 5B8 BCH @95?=B;
 @K5MG F958 5B8 :C@@CK H<9
=BGHFI7H=CBG C: H<9 A5BI:57HIF9F C:
H<9 89H9F;9BHG 7@95B=B; 5=8G
:56F=7 GC:H9B9FG 5B8 GH5H=7
9@=A=B5HCFG K<=7< MCI 5F9 IG=B;
998 5@@ K5FB=B;G 5B8
DF975IH=CBG
 *HCF9 5@@ @5IB8FM 7<9A=75@G 5B8
5=8G =B 5 7CC@ 8FM D@579 577CF8=B;
HC H<9 A5BI:57HIF9FG =BGHFI7H=CBG
 +C F98I79 H<9 F=G? C: DC=GCB=B; CF
7<9A=75@ 6IFBG ?99D 5@@ 7@95B=B;
DFC8I7HG CIH C: H<9 F957< C:
7<=@8F9B
 C BCH CD9F5H9 H<9 K5G<=B;
A57<=B9 =: 5BM ;I5F8G D5B9@G
5B8CF :5GH9B9FG 9L79DH HF5BGDCFH
:=L=B; 6C@HG <5J9 699B F9ACJ98
 C BCH CD9F5H9 H<9 K5G<=B;
A57<=B9 =: D5FHG 5F9 A=GG=B;
CF6FC?9B
 C BCH 6MD5GG 5BM G5:9HM 89J=79G
 +C 5JC=8 :@CCF 85A5;9 5B8 AC@8
;FCKH< 8C BCH @9H GD=@@G CF
GD@5G<9G 75IG9 GH5B8=B; K5H9F
5FCIB8 CF IB89F H<9 5DD@=5B79
 C BCH CD9F5H9 H<=G K5G<=B;
A57<=B9 IBH=@ MCI 5F9 GIF9 H<5H
5 H<9 K5G<=B; A57<=B9 <5G
699B =BGH5@@98 577CF8=B; HC
H<9 %*+##+ &%
%*+),+ &%*
6 5@@ K5H9F 8F5=B DCK9F 5B8
;FCIB8=B; 7CBB97H=CBG 5F9 =B
7CAD@=5B79 K=H< 5@@ @C75@
F9;I@5H=CBG 5B8CF CH<9F
5DD@=756@9 F9;I@5H=CBG 5B8
F9EI=F9A9BHG
 5=@IF9 HC =BGH5@@ A5=BH5=B 5B8CF
CD9F5H9 H<9 K5G<=B; A57<=B9
577CF8=B; HC H<9 A5BI:57HIF9F4G
=BGHFI7H=CBG A5M F9GI@H =B =B>IFM
5B8CF 85A5;9
 )9ACJ=B; 5BM D5B9@ =B7@I8=B;
H<9 FCIB8 G9FJ=79 D5B9@ =B H<9
:FCBH 75B 9LDCG9 G<5FD 98;9G
5B8 DC=BHG 9@97HF=75@
7CBB97H=CBG 5B8 <CH GIF:579G
 +C 5JC=8 85A5;9 HC H<9 8CCF
8C BCH DIG< 5;5=BGH H<9 8CCF
K<9B ACJ=B; H<9 IB=H
'F975IH=CBG G<CI@8 69 H5?9B HC
5JC=8 85A5;9 HC H<9 :@CCF
 +<9 K5H9F 7CBB97H=CBG G<CI@8
69 A589 5B8 H9GH98 69:CF9
9@97HF=75@ DCK9F =G 5DD@=98 HC
H<9 A57<=B9
$?D5C
 +<9 $'&)+%+ *s
,)* 5B8 .)% %* =Bs
8=75H98 =B H<=G A5BI5@ 8CBCH
7CJ9F 5@@ DCGG=6@9 7CB8=H=CBG
K<=7< A5M C77IF CAACB
G9BG9 75IH=CB 5B8 75F9 AIGH
69 9L9F7=G98 K<9B =BGH5@@=B;
A5=BH5=B=B; CF CD9F5H=B; H<9
K5G<=B; A57<=B9
 @K5MG 7CBH57H MCIF 895@9F
8=GHF=6IHCF G9FJ=79 5;9BH CF
H<9 A5BI:57HIF9F 56CIH 5BM
DFC6@9AG CF 7CB8=H=CBG H<5H
MCI 8C BCH IB89FGH5B8
(%+$$
$)*(+*%$)
+<=G 5DD@=5B79 AIGH 69 ;FCIB898 B
H<9 9J9BH C: 5 A5@:IB7H=CB CF
6F95?8CKB ;FCIB8=B; K=@@ F98I79 H<9
F=G? C: 9@97HF=7 G<C7? 6M DFCJ=8=B; 5
D5H< C: @95GH F9G=GH5B79 :CF H<9 9@97HF=7
7IFF9BH +<=G 5DD@=5B79 =G 9EI=DD98
K=H< 5 7CF8 H<5H <5G 5B
9EI=DA9BHs;FCIB8=B; 7CB8I7HCF 5B8 5
;FCIB8=B; D@I; +<9 D@I; AIGH 69
D@I;;98 =BHC 5B 5DDFCDF=5H9 CIH@9H H<5H
=G DFCD9F@M =BGH5@@98 5B8 ;FCIB898 =B
577CF85B79 K=H< 5@@ @C75@ 7C89G 5B8
CF8=B5B79G
d
-($$
d
ADFCD9F 7CBB97H=CB C: H<9
9EI=DA9BH ;FCIB8=B; 7CB8I7HCF
75B F9GI@H =B 9@97HF=7 G<C7?
CBB97H HC 5B =B8=J=8I5@ 6F5B7<
7=F7I=H
<97? K=H< 5 EI5@=:=98 9@97HF=7=5B CF
G9FJ=79A5B =: MCI 5F9 =B 8CI6H 5G HC
K<9H<9F H<9 K5G<9F =G DFCD9F@M
;FCIB898
& %&+ AC8=:M H<9 D@I; DFCJ=898
K=H< H<9 5DD@=5B79 t =:=HK=@@ BCH :=H
H<9 CIH@9H <5J9 5 DFCD9F CIH@9H
=BGH5@@98 6M 5 EI5@=:=98 9@97HF=7=5B
!& *)
$)*(+*%$) %(
+*+( (($
B 75G9 C: 7<5B;9 C: CKB9FG<=D
A5BI5@ G<CI@8 69 7CBJ9M98 K=H< H<9
K5G<9F
), *)
$)*(+*%$)
background
$)*""*%$ $)*(+*%$
>DB?4E3D9?>
d
+*%$
+& -&  ) *" & %!,)0
+<9 K5G<=B; A57<=B9 =G <95JM #=:H
K=H< 75IH=CB
9 GIF9 HC C6G9FJ9 5@@ @=GH98 K5FB=B;G
5B8 75IH=CBG
**$*%$
FCN9B <CG9G 75B H95F6IFGH C BCH
=BGH5@@ H<9 K5G<=B; A57<=B9 CIH8CCFG
CF =B 5B 5F95 9LDCG98 HC :F99N=B;
7CB8=H=CBG
+<9G9 =BGH5@@5H=CB =BGHFI7H=CBG 5F9
=BH9B898 :CF IG9 6M EI5@=:=98 =BGH5@@9FG
B 588=H=CB HC H<9G9 =BGHFI7H=CBG =:
=BGH5@@=B; H<9 K5G<=B; A57<=B9
B H<9 ,B=H98 *H5H9G 7CAD@M K=H<
H<9 %5H=CB5@ @97HF=7 C89
%* %' t @5H9GH
98=H=CB*H5H9 5B8 AIB=7=D5@ 5B8CF
@C75@ F9;I@5H=CBG
B 5B585 7CAD@M K=H< H<9
5B58=5B @97HF=7 C89  t
@5H9GH 98=H=CB'FCJ=B7=5@ 5B8
$IB=7=D5@ 5B8CF @C75@ F9;I@5H=CBG
: H<9 K5G<=B; A57<=B9 =G @C75H98 =B 5
FCCA K<=7< K=@@ 69 9LDCG98 HC
H9AD9F5HIF9G 69@CK :F99N=B; CF =: =H =G
@C75H98 =B 5 756=B H<5H =G 69=B; G<IH
8CKB :CF H<9 K=BH9F 5BM F9G=8I5@ K5H9F
=B H<9 DIAD CF K5H9F =B@9H <CG9G =ECD
69 8F5=B98
+5?9 75F9 BCH HC 85A5;9 H<9 K5G<=B;
A57<=B9 C BCH <C@8 CB HC DFCHFI8=B;
D5FHG 9; 8CCF K<9B @=:H=B;
B 588=H=CB HC H<9 G5:9HM =B:CFA5H=CB
@=GH98 <9F9 H<9 @C75@ K5H9F 5B8
9@97HF=7=HM GIDD@=9F A5M <5J9 GD97=5@
F9EI=F9A9BHG
: =B 8CI6H <5J9 H<9 5DD@=5B79
7CBB97H98 6M 5B 5IH<CF=N98 H97<B=7=5B
>6?B=1D9?> 3?>35B>9>7
G1CD5 49C@?C1<
9C@?C9>7 ?6D85@13;179>7
+<9 G<=DD=B; D57?5;9 <5G DFCH97H98
MCIF B9K 5DD@=5B79 CB =HG K5M HC MCIF
<CA9 @@ D57?5;=B; A5H9F=5@G 5F9
BCBtDC@@IH=B; 5B8 F97M7@56@9 '@95G9
7CBHF=6IH9 HC 5 69HH9F 9BJ=FCBA9BH 6M
8=GDCG=B; C: D57?5;=B; A5H9F=5@G =B 5B
9BJ=FCBA9BH5@@M :F=9B8@M A5BB9F
'@95G9 5G? MCIF 895@9F CF @C75@
5IH<CF=HM 56CIH H<9 69GH A95BG C:
8=GDCG5@
d
-($$
d
"99D 7<=@8F9B 5K5M :FCA G<=DD=B;
75FHCB 5B8 D57?5;=B; 7CADCB9BHG
5B;9F C: GI::C75H=CB :FCA D@5GH=7
:C=@ 5B8 :C@8=B; 75FHCBG
9C@?C9>7 ?6 I?EB ?<4 1@@<91>35
&@8 5DD@=5B79G 5F9 BCH KCFH<@9GG
FI66=G< -5@I56@9 F5K A5H9F=5@G 75B 69
F97@5=A98 :FCA 9BJ=FCBA9BH5@@M :F=9B8@M
F97M7@=B;
d
-($$
d
: 5DD@=5B79 =G BC @CB;9F IG56@9 DI@@
CIH A5=B D@I; 7IH C:: DCK9F 7CF8
5B8 8=G75F8
+C DF9J9BH 7<=@8F9B :FCA @C7?=B;
H<9AG9@J9G =B H<9 5DD@=5B79 8=G56@9
H<9 8CCF @C7? CF F9ACJ9 H<9 8CCF
>D5>454 +C5
0CIF K5G<=B; A57<=B9 =G =BH9B898
CF 8CA9GH=7 IG9 CB@M
CF K5G<=B; A57<=B9 K5G<56@9
:56F=7G =B K5G<=B; K5H9F
CF CD9F5H=CB IG=B; 7C@8 5B8 <CH
 ° ° H5D K5H9F 5B8
7CBJ9BH=CB5@ 588=H=J9G H<5H 5F9
GI=H56@9 :CF IG9 =B F9G=89BH=5@
K5G<=B; A57<=B9G
>F9B?>=5>D1<
&B?D53D9?> ?>C5BF1D9?>
CCE5C
0CIF K5G<=B; A57<=B9 IG9G K5H9F
9B9F;M 5B8 89H9F;9BH 9::=7=9BH@M
H<9F96M DFCH97H=B; H<9 9BJ=FCBA9BH 5B8
F98I7=B; MCIF <CIG9<C@8 7CGHG
+C IG9 MCIF K5G<=B; A57<=B9 =B 5B
9::=7=9BH 5B8 BCB DC@@IH=B; A5BB9F
JC=8 IG=B; HCC AI7< 89H9F;9BH
,G9 89H9F;9BH 695F=B;  GMA6C@
:CF <=;< 9::=7=9B7M 5B8 :FCBH @C58=B;
K5G<9FG
88 89H9F;9BH 577CF8=B; HC H<9
89;F99 C: GC=@=B; 5ACIBH C:
@5IB8FM 5B8 K5H9F <5F8B9GG 5B8
:C@@CK H<9 89H9F;9BH
A5BI:57HIF9FG =BGHFI7H=CBG
13D?BIbCE@@<954
AE9@=5>D
+<9F9 =G 5 D57?9H C: 5779GGCFM D5FHG
GIDD@=98 K=H< MCIF K5G<9F <97? H<5H
5@@ H<9 5779GGCFM D5FHG GIDD@=98 :CF MCIF
AC89@ 5F9 H<9F9 : 5BM D5FHG 5F9
A=GG=B; 7CBH57H MCIF 895@9F
=AA98=5H9@M
*85 4BE= 3?>D19>C
 .5H9F GIDD@M <CG9 :CF 7C@8 K5H9F
6@I9 A5F?=B;
 .5H9F GIDD@M <CG9 :CF <CH K5H9F
F98 A5F?=B;
 .5H9F 8F5=B <CG9
 779GGCFM D5FHG 65; G99 69@CK
*85 1335CC?BI @1BDC 217 3?>D19>C
 CJ9FG HC 69 D@5798 CJ9F H<9
<C@9G :CF H<9 HF5BGDCFH 6C@HG 5:H9F
F9ACJ=B; H<9A
 @6CK :CF 5HH57<=B; H<9 8F5=B
<CG9 9; HC 5 G=B?
 .F9B7< :CF @9J9@=B;
 @5AD :CF 8F5=B <CG9
9D9B8=B; CB H<9 HMD9 C: 7CBB97H=CB
H<9 :C@@CK=B; A5M 5@GC 69 F9EI=F98
0s7CBB97HCF 75B 69 C6H5=B98
:FCA 5BM <5F8K5F9 GHCF9 =B 75G9
H<9F9 =G CB@M 5 7C@8 K5H9F
7CBB97H=CB 5J5=@56@9
BM F9G=8I5@ AC=GHIF9 =BG=89 H<9 8FIA
=G 8I9 HC H<9 :=B5@ H9GH=B; K<=7< 9J9FM
K5G<=B; A57<=B9 IB89F;C9G 69:CF9
@95J=B; H<9 :57HCFM
background
CBB97H=CBG @C75H98 CB H<9 F95F C: H<9
5DD@=5B79
'CK9F 7CF8 K=H< D@I;
<CH K5H9F 7CBB97H=CB
7C@8 K5H9F 7CBB97H=CB
+C56E< D??<C
+<9 :C@@CK=B; HCC@G 5F9 <9@D:I@
 @5H <958 G7F9K8F=J9F
 *C7?9H KF9B7<  AA
 @CG98 KF9B7<   AA
 I66@9 #9J9@
9=5>C9?>C
5  =B7<9G  AA
6  =B7<9G  AA
7  =B7<9G  AA
8  =B7<9G  AA
CCF CD9B=B; 5B;@9 R
DDFCL K9=;<H  @6G  ?;
>CD1<<1D9?> 1B51
d
-($$
d
%9J9F ;FCIB8 H<9 K5G<9F HC D@5GH=7
D@IA6=B; @=B9G ;5G @=B9G CF <CH
K5H9F D=D9G
*89C 1@@<91>35 =ECD 25 9>CD1<<54 ?>
1 C?<94 6<??B 1>4 G5<< <5F5<54 4E5 D?
D85 89785B C@9> C@554C 1F19<12<5 6
9>CD1<<9>7 D85 =1389>5 ?> 1 G??4
6<??B ?F5B 1 21C5=5>D ?B ?> 1
C53?>4 6<??B D85 6<??B =1I >554 D?
25 B59>6?B354 )?E>4 F92B1D9?> 1>4
B9C; ?6 KG1<;9>7 G9<< 25 16653D54
45@5>49>7 ?> D85 CDBE3DEB5 1>4
CD129<9DI ?6 D85 6<??B CEB6135 G85B5 9D
9C 9>CD1<<54
: H<9 K5G<=B; A57<=B9 =G HC 69 =BGH5@@98
CB 5 K95? KCC8 :@CCF 7CBG=89F H<9
:C@@CK=B;
q *C:H :@CCF GIF:579G GI7< 5G
75FD9HG CF GIF:579G K=H< :C5A
657?=B; 5F9 BCH GI=H56@9 :
DCGG=6@9 D@579 H<9 K5G<=B;
A57<=B9 =B 5 7CFB9F C: H<9 FCCA
q *7F9K 5 K5H9F F9G=GH5BH KCC89B
6C5F8 5H @95GH  H<=7? HC H<9
:@CCF
q *97IF9 H<9 :99H C: H<9 K5G<=B;
A57<=B9 K=H< <C@8=B; 6F57?9HG
&F89F H<9 <C@8=B; 6F57?9HG G9H
:FCA CG7< IGHCA9F *9FJ=79
.$1 
q ,B=HG 5F9 BCH 89G=;B98 HC 69
GH57?98
q ,B=HG 5F9 BCH 89G=;B98 :CF IB89F
7CIBH9F =BGH5@@5H=CB
&545CD1< #?E>D9>7
: ACIBH=B; H<9 K5G<9F CB H<9 CG7<
D989GH5@ 5779GGCFM BC.+1 :CF
7C@CF98 J5F=5BH 5779GGCFM BC
.+1* :C@@CK H<9 =BGHFI7H=CBG
GIDD@=98 K=H< H<9 D989GH5@
i
>CD1<< @545CD1< @B9?B D?
B5=?F9>7 DB1>C@?BD 2?<DC
<?C5D
: =BGH5@@=B; H<9 K5G<9F =B 5 7@CG9H
C6G9FJ9 H<9 A=B=AIA 8=GH5B79G
577CF8=B; HC H<9 :C@@CK=B; H56@9
$=B=AIA BGH5@@5H=CB @95F5B79G
,/3&4
(612@   ::
)<=  % ::
'2.?   ::
?<;A   ::
-9BH=@5H=CB
+CD  GE =B  GE 7A
CHHCA  GE =B  GE 7A
853;<9CD 6?B
>CD1<<1D9?>
"(&
0<:=92A29F ?2:<C2 @56==6;4 /<9A@
:<C2 A52 D.@52? 6;A< =9.02
0<;;20A A52 D.A2? @B==9F 96;2 .;1
1?.6; =6=2
0<;;20A A52 2920A?60.9 =<D2? 
@9612 A52 D.@52? 6;A< 6A@ 36;.9 9<0.A6<; 
92C29 A52 D.@52? .@ 9<D .@ =<@@6/92 
/23<?2 36?@A B@2 ?B; . 092.;6;4 0F092 
(5=?F9>7 D85 DB1>C@?BD 2?<DC
d
+*%$
+C 5JC=8 DCGG=6@9 =B>IFM 5B8 85A5;9
HC H<9 5DD@=5B79 5B8 58>579BH
GIF:579G 5@@ HF5BGDCFH 6C@HG AIGH
69 F9ACJ98 69:CF9 IG=B; H<9
5DD@=5B79 :CF H<9 :=FGH H=A9 5B8 AIGH
69 F9H5=B98 :CF 5BM :IHIF9 HF5BGDCFH
9; K<9B ACJ=B;
q #CCG9B 5@@ :CIF 6C@HG 69:CF9
F9ACJ=B; 5BM C: H<9 6C@HG 5@@ H<9
K5M :FCA H<9 IB=H
q )9ACJ9 H<9 6CHHCA HKC 6C@HG DF=CF
HC F9ACJ=B; H<9 HCD HKC 6C@HG
background
q #CCG9B H<9 6C@HG IG=B; H<9 7@CG98
9B8 C: H<9  KF9B7< DFCJ=898
#CCG9B H<9A IBH=@ H<9M 75B 69 F9s
ACJ98 :F99@M
q +<9 F979GG98 6CHHCA 6C@HG A5M 69
ACF9 95G=@M F9ACJ98 IG=B; 5 
 AA GC7?9H KF9B7<
q CAD@9H9@M F9ACJ9 5@@ HF5BGDCFH
6C@H 5GG9A6@=9G 6C@H GDF=B; K5G<9F
5B8 6IG<=B;G 6M F957<=B; H<FCI;<
H<9 CD9B K5G<=B; A57<=B9 8CCF 5B8
DI@@=B; H<9 8FIA G@=;<H@M :CFK5F8 HC
@CCG9B H<9B DI@@ CIH :FCA H<9 657?
q : H<9 6IG<=B;G 8C BCH 7CA9 CIH
K<9B F9ACJ=B; H<9 6C@HG D@579 H<9
6C@HG 657? =BHC H<9 6IG<=B;G 5B8
75F9:I@@M HFM 5;5=B H =G =ADCFH5BH HC
8C H<=G K=H< H<9 6C@HG CH<9FK=G9 H<9
6IG<=B;G K=@@ BCH 7CA9 CIH DFCD9F@M
q +C GHCF9 H<9 6C@HG :CF :IHIF9 IG9 8C
BCH F9ACJ9 H<9 6C@HG :FCA H<9
D@5GH=7 6IG<=B;G
q BG9FH H<9 7CJ9FG IBH=@ H<9M GB5D =B
7CAD@9H9@M
)D?B9>7 D85 DB1>C@?BD 2?<DC
@K5MG ?99D H<9 HF5BGDCFH 6C@HG :CF :Is
HIF9 HF5BGDCFH5H=CB C: H<9 5DD@=5B79
GI7< 5G K<9B ACJ=B; CIH
q *HCF9 H<9 HF5BGDCFH 6C@HG K=H< H<9
K5G<9F 5B8 6IG<=B; 5HH57<98
-1D5B 3?>>53D9?>
-1D5B CE@@<I
**$*%$
+<9 K5G<=B; A57<=B9 AIGH CB@M 69
CD9F5H98 K=H< 7C@8 5B8 <CH A5L
 R  R H5D K5H9F C BCH
7CBB97H H<9 5DD@=5B79 HC H<9 A=L9F
H5D C: 5B IBDF9GGIF=N98 <CHsK5H9F
6C=@9F
: =B 8CI6H <5J9 H<9 K5H9F 7CBB97H=CB
=BGH5@@98 6M 5B 5IH<CF=N98 H97<B=7=5B
+<9 K5H9F GIDD@M <CG9G AIGH BCH 69
9BH CF :@5HH9B98
$C8=:=98 CF 7IH =BH9;F=HM 75B
BC@CB;9F 69 ;I5F5BH998
&6G9FJ9 H<9 K5H9F DF9GGIF9 =B H<9
GIDD@M B9HKCF?
+<9 K5H9F DF9GGIF9 G<CI@8 69
69HK99B  5B8 DG=
5B8 65FG K<9B H<9 H5D
=GHIFB98 CB 5H @95GH  , *
;5@@CBG  @=H9FG C: K5H9F G<CI@8 69
8=G7<5F;98 D9F A=BIH9
DF9GGIF9 F9;I@5HCF J5@J9 AIGH 69
=BGH5@@98 =: H<9 A5L=AIA K5H9F
DF9GGIF9 =G 9L799898
**$*%$
+C DF9J9BH K5H9F 85A5;9 H<9 <CH
5B8 7C@8 K5H9F J5@J9G G<CI@8 69
5779GG=6@9 K<9B H<9 K5G<=B;
A57<=B9 =G =B D@579 5B8 G<CI@8
5@K5MG 69 HIFB98 C:: K<9B H<9
K5G<=B; A57<=B9 =G BCH =B IG9
**$*%$
: =BGH5@@=B; H<9 K5G<=B; A57<=B9 =B 5
B9K 6I=@8=B; CF 5 6I=@8=B; =B K<=7<
H<9 D@IA6=B; GMGH9A K5G F979BH@M
=BGH5@@98 CF ID;F5898 :@IG< H<9 @=B9G
69:CF9 =BGH5@@=B; H<9 K5G<=B;
A57<=B9 HC F9ACJ9 5BM G5B8 8=FH CF
F9G=8I9
)E@@<I "9>5 ?>>53D9?>
?<4 G1D5B 3?>>53D9?> 1>4
?D G1D5B 3?>>53D9?>
=1H  °  °
q '@5GH=7 H<F958G AIGH CB@M 69
H=;<H9B98 2I 81>4 K<9B
7CBB97H=B; H<9 K5H9F GIDD@M <CG9G
HC H<9 657? C: H<9 IB=H C BCH
F9ACJ9 H<9 GHF5=B9FG :FCA H<9
K5H9F GIDD@M <CG9G
-*.
--
q :H9F 7CBB97H=B; HIFB CB H<9 K5H9F
7CAD@9H9@M 5B8 7<97? H<5H
7CBB97H=CB DC=BHG 5F9 K5H9FH=;<H
d
+*%$
+<9 7CBB97H=CB DC=BHG 5F9 IB89F :I@@
K5H9F DF9GGIF9 <97? G95@ K=H< H5D
:I@@M CD9B
background
-1D5B 4B19>175
**$*%$
C BCH 69B8 CF DI@@ H<9 K5H9F
8F5=B5;9 <CG9
9=;<H 8=::9F9B79 69HK99B H<9
=BGH5@@5H=CB @C75H=CB C: H<9 K5G<=B;
A57<=B9 5B8 H<9 8F5=B5;9 DC=BH
$5L=AIA :99H  7A
A=B=AIA :99H  7A
?>>53D9>7 D85 G1D5B
4B19>175 8?C5
q ? >?D B5=?F5 D85 C3B5G 6B?=
D85 3<1=@ 1CC5=2<I #CCG9B
H<9 G7F9K CB@M 9BCI;< GC H<5H H<9
7@5AD K=@@ G@=89 :F99@M CBHC H<9
K5H9F 8F5=B <CG9
 '@579 H<9 <CG9 7@5AD CJ9F H<9
9B8 C: H<9 8F5=B <CG9 69:CF9
5HH57<=B; H<9 8F5=B <CG9 HC H<9
5DD@=5B79
 HH57< H<9 8F5=B <CG9 HC H<9
8F5=B <CG9 7CBB97H=CB CB H<9
657? C: H<9 5DD@=5B79 DCG=H=CB
H<9 <CG9 7@5AD 5DDFCL=A5H9@M
 =B7<  AA :FCA H<9 9B8 C:
H<9 <CG9
 H=;<H9B H<9 7@5AD K=H< 5
G7F9K8F=J9F
)D1>4@9@5 >CD1<<1D9?>
q ,G9 H<9 9@6CK HH57< H<9 9@6CK HC
H<9 9B8 C: H<9 <CG9 5B8 =BG9FH 9B8
C: <CG9 =BHC GH5B8D=D9
q ,G9 5 GHF5D CF 756@9 H=9 HC <C@8
<CG9 =B D@579
>-1<< >CD1<<1D9?>
q ,G9 H<9 9@6CK HH57< H<9 9@6CK HC
H<9 9B8 C: H<9 <CG9 5B8 =BG9FH H<9
9B8 C: H<9 <CG9 =BHC H<9 K5@@ 8F5=B
q +<9 <CG9 5B8 9@6CK G<CI@8
9LH9B8 =BHC H<9 CD9B 8F5=B D=D9 5G
:5F 5G H<9 9@6CK 5@@CKG K<9B
G95H98 5G G<CKB =B H<9 56CJ9
D=7HIF9
q ,G9 5 GHF5D CF 756@9 H=9 HC <C@8
<CG9 =B D@579
B19>175 9>D? 1 C9@8?>
q *97IF9 H<9 7CBB97H=CB DC=BH K=H< 5
<CG9 7@=DBCH =B7@I898 =B
:57HCFMGIDD@=98 9EI=DA9BH
B19>175 9>D? 1 C9>;
**$*%$
BGIF9 H<5H H<9 D@I; =G BCH =B H<9
8F5=B <C@9
q HH57< K5H9F 8F5=B <CG9 G97IF9@M
HC G=B?
q ,G9 5 GHF5D CF 756@9 H=9 HC <C@8
<CG9 =B D@579
q .<9B H<9 K5H9F =G 69=B; 8F5=B98
7<97? H<5H H<9 K5H9F :@CK CIH C:
H<9 G=B? =G 589EI5H9
background

?C5 1>4 312<5 <5>7D8C
"56Db81>4 3?>>53D9?> (978Db81>4 3?>>53D9?>
/
0
.
2
4
3
5
5
1
1
5  =B  7A 5DDFCL
6  =B  7A 5DDFCL
7  =B  7A 5DDFCL
8  =B  7A A5L
9  =B  7A 5DDFCL
:  =B  7A 5DDFCL
;  =B  7A 5DDFCL
<  =B  7A 5DDFCL
< A=B=AIA 8F5=B DC=BH <9=;<H
%D85B 8?C5C
J5=@56@9 :FCA 5DD@=5B79 895@9FG
LH9B898 GIDD@M <CG9
5DDFCL =B  A
<53DB931< 3?>>53D9?>
(%+$$ $)*(+*%$)
+<=G 5DD@=5B79 AIGH 69 ;FCIB898 B
H<9 9J9BH C: 5 A5@:IB7H=CB CF 6F95?s
8CKB ;FCIB8=B; K=@@ F98I79 H<9 F=G? C:
9@97HF=75@ G<C7? 6M DFCJ=8=B; 5 D5H< C:
@95GH F9G=GH5B79 :CF H<9 9@97HF=7 7IFF9BH
+<=G5DD@=5B79 :95HIF9G 5 7CF8 K=H< 5B
9EI=DA9BHs;FCIB8=B; 7CB8I7HCF 5B8 5
;FCIB8=B; D@I; +<9 D@I; AIGH 69
D@I;;98 =BHC 5B 5DDFCDF=5H9 CIH@9H
K<=7< <5G 699B DFCD9F@M =BGH5@@98 5B8
;FCIB898 =B 577CF85B79 K=H< 5@@ @C75@
F9;I@5H=CBG 5B8 CF8=B5B79G
d
-($$
d
ADFCD9F 7CBB97H=CB C: H<9
9EI=DA9BH ;FCIB8=B; 7CB8I7HCF
A5M F9GI@H =B 9@97HF=7 G<C7? 5J9
H<9 5DD@=5B79 7<97?98 6M
5EI5@=:=98 9@97HF=7=5B CF G9FJ=79
H97<B=7=5B =: MCI 5F9 =B 8CI6H 5G HC
K<9H<9F H<9 K5G<9F <5G 699B
DFCD9F@M ;FCIB898
C BCH AC8=:M H<9 D@I; DFCJ=898 K=H<
H<9 5DD@=5B79 =: =H K=@@ BCH :=H =B H<9
CIH@9H <5J9 5 DFCD9F CIH@9H =BGH5@@98 6M
5 EI5@=:=98 9@97HF=7=5B
d
-($$
d
+<9 K5G<=B; A57<=B9 AIGH CB@M 69
7CBB97H98 HC 5B =B8=J=8I5@ 6F5B7<
7=F7I=H J=5 5 GC7?9H K<=7< <5G 699B
DFCD9F@M =BGH5@@98 5B8 ;FCIB898
+<9 <CIG9<C@8 9@97HF=75@ JC@H5;9 AIGH
7CFF9GDCB8 HC H<9 JC@H5;9 GD97=:=75H=CB
CB H<9 K5G<=B; A57<=B9 F5H=B; D@5H9
G99 D5;9 
CBB97H=CB GD97=:=75H=CBG 5G K9@@ 5G
H<9 F9EI=F98 :IG9G 5F9 GH=DI@5H98 CB H<9
5DD@=5B79 F5H=B; D@5H9
/,43
&249 -0&2&3 "443
   
:.E
$5?9 GIF9 H<5H
H<9 DCK9F D@I; :=HG =BHC H<9 GC7?9H
H<9 K=F9 G=N9 =G GI::=7=9BH
H<9 ;FCIB8=B; GMGH9A =G DFCD9F@M
=BGH5@@98
+<9 DCK9F 7CF8 A5M 69 F9D@5798 6M 5B
9@97HF=7=5B CB@M
)9D@579A9BH DCK9F 7CF8G 5F9 5J5=@56@9
:FCA IGHCA9F *9FJ=79
d
-($$
d
+C F98I79 H<9 F=G? C: :=F9 CF 9@97HF=75@
G<C7? &%&+ IG9 5B 9LH9BG=CB
7CF8 CF 5B 585DH9F HC7CBB97H H<9
K5G<=B; A57<=B9 HC H<9 DCK9F
GIDD@M
: 5B ;FCIB8 :5I@H 7=F7I=H 6F95?9F =G HC 69
IG98 CB@M IG9 HMD9G A5F?98 K=H< H<9
:C@@CK=B; GMA6C@ 7
&B@M H<=G GMA6C@ 75B ;I5F5BH99
7CAD@=5B79 K=H< 5@@ 7IFF9BH F9;I@5H=CBG
C BCH =BG9FHF9ACJ9 H<9 DCK9F D@I;
K=H< K9H CF 85AD <5B8G
+CI7< H<9 D@I; CB@M K<9B F9ACJ=B; H<9
D@I; :FCA H<9 GC7?9H
background

"5F5<9>7 &B?354EB5
 +<9 5DD@=5B79 G<CI@8 BCK 69 =B =HG
:=B5@ DCG=H=CB F958M :CF @9J9@=B;
ACJ=B; H<9 5DD@=5B79 5:H9F
@9J9@=B; 75B A5?9 =H IB@9J9@ 5;5=B
57< :CCH C: H<9 5DD@=5B79 CF
D989GH5@ AIGH 69 D@5798 :=FA@M CB
H<9 :@CCF HC DF9J9BH H<9 K5G<=B;
A57<=B9 :FCA KC66@=B;
*H5FH K=H< 5@@ :CIF :99H G7F9K98 =B
5G :5F 5G DCGG=6@9 H<9B 657?
=B8=J=8I5@ :99H CIH 5G B979GG5FM HC
@9J9@ H<9 K5G<9F
 ,G9 H<9 6I66@9 @9J9@ HC @9J9@ H<9
K5G<9F :FCBH HC 657? 5B8 G=89 HC
G=89 69 GIF9 H<9 @9J9@ :=HG 69HK99B
H<9 98;9G C: H<9 K5G<9F 5B8 =G
BCH 9@9J5H98 5H ACB9 9B8 CB 5
F=8;9 CB H<9 GIF:579 C: H<9
K5G<9F
 8>IGH H<9 @9J9@=B; C: H<9 K5G<9F
K=H< H<9 :CIF <9=;<H58>IGH56@9
:99H #9J9@ H<9 K5G<9F 5G @CK 5G
DCGG=6@9 HC <9?@D F98I79 J=6F5H=CB
d
+*%$
+& -&  ) *" & %!,) *+5?9
75F9 K<9B IG=B; H<9 KF9B7<
q #CCG9B H<9 @C7? BIH  CB H<9
=@@IGHF5H=CB 6M HIFB=B; =H
7@C7?K=G9 ,G9 H<9 KF9B7<
DFCJ=898 CF 5  AA
CD9B 9B8 KF9B7< .<9B MCI
HIFB H<9 @C7? BIH H<9 :CCH CB
H<9 =@@IGHF5H=CB =H =G @C7?98
5;5=BGH K=@@ HIFB K=H< =H +<=G K=@@
9LH9B8 H<9 <9=;<H C: H<9 :CCH
q +IFB=B; H<9 :CCH CIH 7@C7?K=G9
K=@@ F5=G9 H<9 7CFB9F C: H<9
K5G<9F HIFB=B; H<9 :CCH =B
7CIBH9F7@C7?K=G9 K=@@ @CK9F
H<9 7CFB9F C: H<9 K5G<9F
.<9B H<9 7CFB9F C: H<9 K5G<9F
=G G5H=G:57HCF=@M F5=G98 CF
@CK9F98 @C7? H<9
<9=;<H58>IGH56@9 :99H =B D@579
6M HIFB=B; H<9 @C7? BIH
7CIBH9F7@C7?K=G9 IBH=@ =H @C7?G
H=;<H@M 5;5=BGH H<9 K5G<9F
<CIG=B;
i
H A5M 69 B979GG5FM HC <C@8
H<9 K5G<9F :CCH K=H< 5 D5=F
C: D@=9FG HC ?99D =H :FCA
HIFB=B; K<=@9 H=;<H9B=B; H<9
@C7? BIH H H<9 :CCH 8C9G
HIFB =H K=@@ 7<5B;9 H<9
<9=;<H C: H<9 7CFB9F
q :H9F A5?=B; DF9@=A=B5FM
58>IGHA9BHG DF9GG 8CKB CB
957< 7CFB9F C: H<9 K5G<9F HC
A5?9 GIF9 H<9 IB=H 8C9G BCH
KC66@9 : =H 8C9G KC66@9
@CK9F H<9 :CCH CB H<5H 7CFB9F
IBH=@ H<9 :CCH HCI7<9G H<9 :@CCF
:=FA@M
 ,G9 5 6I66@9 @9J9@  CF @9GG =B
@9B;H< HC 7<97? H<9 @9J9@=B; GH5HIG
C: H<9 5DD@=5B79
q #5M H<9 6I66@9 @9J9@ 57FCGG H<9
IB=H KCF?HCD HC 7<97? H<9 @9J9@
:FCA G=89 HC G=89 5B8 :FCA :FCBH
HC 657?
q 79BH9F@C75H98 6I66@9
=B8=75H9G H<9 IB=H =G @9J9@98
&H<9FK=G9 F9D95H H<9 @9J9@=B;
DFC798IF9 IBH=@ H<9 IB=H =G
@9J9@98 +=D =: H<9 6I66@9 =G
7@CG9F HC CB9 9B8 =H =B8=75H9G
H<9 <=;< G=89 C: H<9 IB=H +C
@9J9@ H<9 IB=H 9=H<9F @CK9F H<9
<=;<9F G=89 CF F5=G9 H<9 @CK9F
G=89
q :H9F @9J9@=B; H<9 IB=H :FCA G=89
HC G=89 H<9B HIFB H<9 @9J9@ GC
H<5H =H @5MG CB H<9 KCF?HCD :FCA
:FCBH HC 657? HC 5@GC 7<97? H<9
@9J9@ =B H<5H 8=F97H=CB
 =B9 HIB9 H<9 @9J9@=B; 6M D@57=B; 5
GA5@@ @C58 C: @5IB8FM =B H<9
A57<=B9 GH5FH=B; =H =B GD=B 7M7@9
5B8 H<9B @9J9@=B; H<9 K5G<9F
5;5=B
i
: H<9 H9GH GD=B 7M7@9 =G A5BI5@@M
GHCDD98 69:CF9 =HG 7CAD@9H=CB
H<9B H<9 8CCF A5M F9A5=B @C7?98
:CF  G97CB8G
*B1>C@?BD CE38 1C G85>
=?F9>7 ?ED
9:CF9 HF5BGDCFH=B; H<9 K5G<=B;
A57<=B9
+IFB C:: H<9 K5H9F
=G7CBB97H H<9 K5G<=B; A57<=B9
:FCA H<9 DCK9F CIH@9H
=GA5BH@9 H<9 GIDD@M 5B8 8F5=B5;9
<CG9G
BGH5@@ H<9 HF5BGDCFH 6C@HG
i
5J=B; HF5BGDCFH98 H<9 5DD@=5B79
5B8 9BGIF98 DFCD9F =BGH5@@5H=CB
5B8 7CBB97H=CB 5@@CK H<9 B19>
DFC;F5A HC FIB H<FCI;< 69:CF9
GH5FH=B; H<9 :=FGH K5G< DFC;F5A
&B5@1B9>7 1>4 9>C5BD9>7 D85
DB1>C@?BD 2?<DC
q )9ACJ9 H<9 7CJ9FG
q 'F9D5F9 H<9 HF5BGDCFH 6C@HG
#CCG9B H<9 G7F9K =B H<9 G@99J9
IBH=@ H<9 9B8 C: H<9 G7F9K =G @9J9@
K=H< H<9 9B8 C: H<9 G@99J9
q BG9FH 5B8 H=;<H9B 5@@ HF5BGDCFH
6C@HG $5?9 GIF9 H<5H H<9 H56 CB
H<9 HF5BGDCFH5H=CB 6C@H =G =BG9FH98
=B H<9 G@CH CB H<9 K5G<=B; A57<=B9
657? D5B9@
background

%&(*$ $)*(+*%$
/?EB >5G G1C85B
6996;4 9.B;1?F 12A2?42;A .;1<? .116A6C2@ 6;A<
16@=2;@2?@
%=2; A52 1<<? 0<9<?21 :.?86;4 
.;1 09<@2 A52 1<<?
d+*%$ *85 1335CC @1>5< <?31D54 ?> D85 2?DD?= B978D ?6 D85 G1C85B 9C 6?B )5BF935 335CC
1>4 9C ?><I D? 25 ?@5>54 2I 1> ED8?B9J54 ?B 'E1<96954 )5BF935 *538>9391>
background

&1>5<
544/.3 '/2 "%%*4*/.", /04*/.3
6; .116A6<; A< A52 =?<4?.: 63 ?2>B6?21
,&"$) /92.05 0F092 D699 /2 .1121 A< A52 @2920A21
=?<4?.:
*.3& ,53 116A6<;.9 ?6;@6;4 0F092
&"68 %548 ;0?2.@21 D.@5 A6:2 3<? 52.C69F @<6921
9<.1@
116A6<;.9 <=A6<;@ 0.; /2 0<:/6;21 .A .;F A6:2
%%*4*/.", /04*/. 3&,&$4&%
;160.A<? 9645A 6@ 96A ?21
7*4$) /'' "%%*4*/.", /04*/.
&?2@@ /BAA<; .4.6; ;160.A<? 9645A AB?;@ <33
*30,"8
)52 &"%8 *. A6:2 6@ 16@=9.F21 63 . =?<4?.: 6@ @2920A21
)52 4"24 A6:2 6@ 16@=9.F21 63 A56@ 3B;0A6<; 6@ .116A6<;.99F
@2920A21
4"24"53& #544/.
(A.?A@ <? 6;A2??B=A@ A52 D.@56;4 0F092 =?<4?.:
:B@A 36?@A/2 @2920A21
.%*$"4/2 ,*()4
;160.A<? 9645A 39.@52@ ?21 (2AA6;4@ 0.; /2
05.;421 A52 D.@5 0F092 0.; /2 @A.?A21 1<<?
6@ 9<0821 3<? ?2.@<;@ <3 @.32AF <? =?<4?.: 6@ 6;
H&.B@2 :<12
;160.A<? 9645A 6@ 96A ?21 &?<4?.: 6@ ?B;;6;4 .;1
&.B@2 0.; /2 .0A6C.A21
)52 6;160.A<? 9645A 6@ <33 &?<4?.: 6@ 36;6@521 <?
;< =?<4?.: @2920A21
&,"8 4"24 #544/.
)52 4"24 A6:2 0.; /2 129.F21 /F 5<B?@ B= A< . :.E6:B:
<3  5<B?@ 63 ?2>B6?21
)52 16@=9.F @5<D@ A52 &,"8 4"24 A6:2
0*. &,&$4*/. #544/.
<? 05.;46;4 A52 @=6; @=221 63 ?2>B6?21 )52 6;160.A<? 9645A
<3 A52 @2920A21 @=6; @=221 6@ 96A ?21
2/(2"- 3&,&$4/2
(D6A052@ A52 :.056;2 <; .;1 <33 .;1 @2920A@ A52=?<4?.:
.; /2 AB?;21 6; /<A5 16?20A6<;@
)52 =?<4?.: @2920A<? 1<2@ ;<A AB?; D5692 A52 =?<4?.: 6@
?B;;6;4 A52 =?<4?.: @2>B2;02 6@ 2920A?<;60.99F
0<;A?<9921
.%*$"4/2 ,*()43
)52 %//2 ,/$+&% 9645A@ B= 63 . =?<4?.: 6@ @2920A21 .;1 A52
4"24 /BAA<; 6@ =?2@@21
)52 7"3) 2*.3& .;1 30*. 9645A@ B= 63 A52 ?2@=20A6C2
=?<4?.: @24:2;A ?B;@
)52 '*.*3)&% 9645A@ B= 63 A52 =?<4?.: 5.@ 2;121
;160.A<? 9645A@ 39.@5 %=2?.A6<; 2??<?
background

)E==1BI ?69>CDBE3D9?>C
d -1B>9>7
9:CF9 IG=B; MCIF K5G<=B; A57<=B9
F958 5B8 :C@@CK 5@@ =BGH5@@5H=CB 5B8
CD9F5H=B; =BGHFI7H=CBG
&B5@1B9>7 D85 <1E>4BI
<?14
DEB> ?>
)5<53D 1 3I3<5 1>4 CD1BD
D85 =1389>5
)5<53D 45C9B54 C5DD9>7C
1>4 CD1BD
6D5B G1C89>7
3<?C5
E><?14
background

56?B5 +C9>7 ?B
D85 9BCD *9=5
+<9 K5G<=B; A57<=B9 AIGH 69 =BGH5@@98
5B8 7CBB97H98 DFCD9F@M F9:9F HC '5;9

9:CF9 IG=B; MCIF K5G<=B; A57<=B9 :CF
H<9 :=FGH H=A9
q $5?9 GIF9 H<5H H<9 GIDD@=98 JC@Hs
5;9 =G H<9 G5A9 5G H<9 JC@H5;9
G<CKB CB H<9 F5H=B; D@5H9
q <97? H<5H H<9 K5H9F J5@J9G :CF H<9
K5G<=B; A57<=B9 <5J9 699B 7CBs
B97H98 7CFF97H@M 5B8 5F9 CD9B
+C9>7 ?B D85 9BCD
*9=5
9BCD G1C89>7 3I3<5 G9D8b
?ED<1E>4BI
0CIF 5DD@=5B79 K5G H9GH98 69:CF9
@95J=B; H<9 :57HCFM +C 9BGIF9 5 :F9G<
K5G< K=H< MCIF =B=H=5@ @C58 C: 7@CH<9G
FIB H<9 K5G<9F 5 7CAD@9H9 7M7@9
K=H<CIH 7@CH<9G =B 58J5B79
q C BCH @C58 5BM @5IB8FM
q +IFB CB H<9 K5H9F H5D
q &D9B H<9 :@5D C: H<9 89H9F;9BH
8=GD9BG9F
q 'CIF 5DDFCL EI5FH  @=H9F C:
K5H9F =BHC H<9 89H9F;9BH 7<5A69F
G99 '5;9 
q 'CIF  +6GD 89H9F;9BH =BHC
89H9F;9BH 7<5A69F
i
C BCH IG9 GD97=5@ 89H9F;9BHG :CF
89@=75H9G H<=G K=@@ 75IG9 9L79GG=J9
GI8G=B;
q @CG9 H<9 :@5D C: H<9 89H9F;9BH
8=GD9BG9F
q @CG9 H<9 8CCF
q *9H H<9 DFC;F5A G9@97HCF HC
(57E<1B?DD?> 8?D
+<9 )D1BD&1EC5 =B8=75HCF @=;<H
:@5G<9G F98
q 'F9GG H<9 )D1BD&1EC5 6IHHCB
+<9 DFC;F5A GH5FHG
+<9 =B8=75HCF @=;<H =G CB F98
i
+<9 8=GD@5M G<CKG H<9 FIB H=A9 C:
DFC;F5A
.<9B H<9 8=GD@5M G<CKG O0:00
q &D9B H<9 8CCF
q +IFB H<9 DFC;F5A G9@97HCF HC %66
&B5@1B9>7 D85 <1E>4BI
**$*%$
#CCG9 896F=G 7C=BG D5D9F 7@=DG
B5=@G 5B8 CH<9F <5F8 C6>97HG 75B
85A5;9 =H9AG C: 7@CH<=B; 5G K9@@ 5G
D5FHG C: H<9 K5G<=B; A57<=B9 9;
8FIA
q ADHM 5@@ DC7?9HG
q FIG< C:: @=BH 5B8 8=FH
q @CG9 N=DD9FG 6IHHCB ID 8IJ9HG
5B8 <CC?G
q )9ACJ9 7IFH5=B F=B;G CF H=9 H<9A
ID =B 5 B9H 65;
q )9ACJ9 D=BG 6IHHCBG 6I7?@9G
5B8 CH<9F <5F8 C6>97HG HC 5JC=8
G7F5H7<=B; H<9 K5G<9F =BH9F=CF
q )9ACJ9 BCBsK5G<56@9 HF=A 5B8
CFB5A9BHG
q +IFB GMBH<9H=7 ?B=HK95F =BG=89sCIH
HC 5JC=8 D=@@=B;
q +F95H GDCHG 5B8 GH5=BG
+C DF9J9BH @CGG CF 85A5;9 HC @5IB8FM
5B8 H<9 A57<=B9 H<9 :C@@CK=B; =H9AG
G<CI@8 69 K5G<98 =B 5 A9G< @5IB8FM
65;
q 56M GC7?G GA5@@ =H9AG
q CG=9FM
q 9@HG
q ,B89FK=F98 6F5G 8=F97H@M K5G<98
=B H<9 K5G<9F H<9 K=F9 A5M 7CA9
@CCG9 8IF=B; K5G=B; 5B8 75IG9
85A5;9
)?BD9>7 D85 <1E>4BI
33?B49>7 D? 3?<?B 1>4 457B55 ?6
C?9<9>7
**$*%$
H9AG C: 7@CH<=B; A5M 697CA9
8=G7C@CF98 %9J9F K5G< B9K
AI@H=s7C@CF98 =H9AG HC;9H<9F K=H<
CH<9F =H9AG
.<=H9 =H9AG A5M 697CA9 ;F5M @K5MG
K5G< K<=H9 5B8 7C@CF98 =H9AG
G9D5F5H9@M
57B55C ?6 C?9<9>7
)<978D 49BD
%C F97C;B=N56@9 8=FH CF GH5=B=B;
#5IB8FM A5M <5J9 GCA9 6C8M C8CF
#=;<H GIAA9F 7@CH<=B;
+tG<=FHG G<=FHG 5B8 6@CIG9G H<5H
<5J9 699B KCFB :CF ID HC CB9 85M
98 @=B9B 5B8 ;I9GH HCK9@G H<5H
<5J9 699B IG98 :CF CB9 85M
$?B=1< 49BD
-=G=6@9 8=FH 5B8CF GCA9 @=;<H
F97C;B=N56@9 GH5=B=B;
+tG<=FHG G<=FHG 5B8 6@CIG9G H<5H
5F9 J9FM GK95HM CF <5J9 699B KCFB
G9J9F5@ H=A9G
=G< HCK9@G <5B8 HCK9@G 5B8 698
@=B9B H<5H <5J9 699B IG98 :CF ID HC
CB9 K99?
*<99F 7IFH5=BG K=H<CIH GAC?9
GH5=B=B; H<5H <5J9 BCH 699B
K5G<98 :CF ID HC ACBH<G
>D5>C9F5 49BD
=FH 5B8CF GH5=B=B; F97C;B=N56@9
"=H7<9B <5B8 HCK9@G H<5H <5J9
699B IG98 :CF ID HC CB9 K99?
@CH< B5D?=BG
=6G
<=@8F9BG CIH9F 7@CH<=B; CF
GDCFHGK95F K=H< ;F5GG 5B8 GC=@
GH5=BG
.CF?=B; 7@CH<9G GI7< 5G CJ9F5@@G
CF 65?9FG 5B8 6IH7<9FG 7C5HG
*I@931< CD19>C
C8M C=@G 7CC?=B; C=@G;F95G9
G5I79G A=B9F5@ C=@ K5L
7CBH5=B=B; :5HC=@
+95 7C::99 F98 K=B9 :FI=H
J9;9H56@9G
@CC8 9;; A=@? GH5F7<
7CBH5=B=B; DFCH9=B 75F6C<M8F5H9
*CCH GC=@ G5B8 D=;A9BHG F98
7@5M
(5=?F9>7 CD19>C
: DCGG=6@9 DF9HF95H GH5=BG K<=@9 H<9M
5F9 GH=@@ :F9G<
=FGH 856 GC5DM K5H9F CBHC H<9 GH5=B
C BCH FI6
*I6G9EI9BH@M K5G< H<9 =H9AG C:
7@CH<=B; IG=B; H<9 5DDFCDF=5H9 DFC;F5A
background

&775G=CB5@@M G9J9F5@ K5G< 7M7@9G A5M
69 F9EI=F98 =B CF89F HC F9ACJ9
D9FG=GH9BH 8F=98 CB GH5=BG
)?BD9>7 <1E>4BI 133?B49>7
D?31B5 <125< C@5396931D9?>C
*99 5@GC H9AD9F5HIF9G G9HH=B;G D5;9

12B93 *I@5C
$57<=B9 .5G< CHHCBG Ó
$57<=B9 .5G<
'9FA5B9BH'F9GG Ô
$57<=B9 .5G< 9@=75H9G Ò
5B8 .5G< Ì
*5=@5B1DEB5C
C@8 Á
.5FA Ê
CH Â
C BCH K5G< 7@CH<9G =B K5G<=B;
A57<=B9 =: H<9 75F9 @569@ G5MG OC%CH
.5G< CF H<9 & %&+ .* GMA6C@
Ú =GCBH<9 75F9 @569@
"?149>7 D85 <1E>4BI
d
-($$
d
+& -& 
/'#&* &% 1)
H9AG C: 7@CH<=B; H<5H <5J9 699B
DF9HF95H98 K=H< GC@J9BHs65G98
7@95B=B; 5;9BHG 9; GH5=B F9ACJ9F
5B8 8FM 7@95B=B; GC@J9BHG F9DF9G9BH
5B 9LD@CG=CB <5N5F8 CB79 @C5898
=BHC H<9 K5G<=B; A57<=B9
+<9F9:CF9 H<9G9 =H9AG AIGH :=FGH 69
F=BG98 H<CFCI;<@M 6M <5B8
**$*%$
#CCG9 896F=G =B H<9 K5G<=B;
A57<=B9 8FIA 75B 85A5;9 H<9
@5IB8FM 9:CF9 @C58=B; H<9 @5IB8FM
7<97? H<5H H<9F9 =G BC 896F=G =B H<9
8FIA
q &D9B H<9 8CCF
q ,B:C@8 H<9 GCFH98 =H9AG C: 7@CH<=B;
5B8 D@579 H<9A @CCG9@M =BHC H<9
8FIA $=L ID @5F;9 5B8 GA5@@
=H9AG H9AG C: J5FM=B; G=N9 K=@@
8=GHF=6IH9 69HH9F 8IF=B; H<9 GD=B
7M7@9
i
C BCH 9L7998 H<9 A5L=AIA @C58
&J9F@C58=B; K=@@ 75IG9 DCCF K5G<
F9GI@HG 5B8 9B7CIF5;9 KF=B?@=B;
CF 69GH F9GI@HG =H =G F97CAA9B898 HC
@C58 H<9 8FIA 89D9B8=B; CB H<9 :56F=7
HMD9 G99 GD97=5@ DFC;F5AG '5;9  :CF
=B:CFA5H=CB CB 6I@?M =H9AG 9;
7CA:CFH9FG
E<< "?14
CHHCB 5B8 #=B9BG
V "?14
'9FA5B9BH 'F9GG *MBH<9H=7 @9B8G
5B8 "B=HK95F
D "?14
.CC@ 9@=75H9G *=@?
i
<?C5 D85 4??B
? >?D DB1@ 1>I 9D5=C ?6
3<?D89>7 25DG55> D85 4??B 1>4
BE225B C51<
??B C8?E<4 25 12<5 D? 3<?C5
51C9<I >?D 2I 6?B35
"1E>4BI
5D5B75>DC 1>4
449D9F5C
9C@5>C9>7 D85 3?BB53D
1=?E>D ?6 45D5B75>D
d
-($$
d
+& -&  ) *" & '& *&% %
"99D 89H9F;9BHG 5B8 588=H=J9G CIH
C: H<9 F957< C: 7<=@8F9B
$95GIF9 CIH H<9 89H9F;9BH DCK89F CF
@=EI=8 577CF8=B; HC
+<9 K5H9F <5F8B9GG +<=G
=B:CFA5H=CB 75B 69 C6H5=B98 :FCA
MCIF @C75@ K5H9F 5IH<CF=HM *C:H
K5H9F F9EI=F9G @9GG 89H9F;9BH
+<9 5ACIBH C: @5IB8FM
+<9 89;F99 C: GC=@=B; B:CFA5H=CB
CB GC=@=B; 75B 69:CIB8 CB '5;9

+<9 GD97=:=75H=CBG C: H<9 89H9F;9BH
A5BI:57HIF9F $95GIF=B; H<9
7CFF97H 5ACIBH C: 89H9F;9BH
F9@=9J9G H<9 GHF5=B CB H<9
9BJ=FCBA9BH 5B8 9BGIF9G CDH=AIA
K5G<=B; F9GI@HG
*?? <9DD<5 45D5B75>D
+<9 @5IB8FM =G BCH 7@95B98 DFCD9F@M 5B8
K=@@ 9J9BHI5@@M 697CA9 ;F5M 5B8 GH=::
F5M=G< 6FCKB GDCHG :5H ;@C6I@9G A5M
5DD95F CB H<9 @5IB8FM +<9<95H9F A5M
75@7=:M
*?? =E38 45D5B75>D
%CH 9BJ=FCBA9BH5@@M :F=9B8@M 9L79GG=J9
GI8G F98I79 K5G< 5;=H5H=CB DFC8I7=B;
DCCF K5G<=B; 5B8 F=BG=B; F9GI@HG CF
A5M DF9J9BH DFCD9F GD=BB=B;
background

J9<<9>7 <1E>4BI 45D5B75>D
1>4?B 1449D9F5C
q &D9B H<9 :@5D C: H<9 89H9F;9BH
8=GD9BG9F
q 88 H<9 89H9F;9BH 5B8CF 588=H=J9
=GD9BG9F
=GD9BG9F :CF 89H9F;9BH GH5=B F9ACJ9F
i
-5 B53?==5>4  45D5B75>DC
2531EC5 D85I 1B5 @1BD93E<1B<I
45C97>54 D? 45<9F5B ?@D9=E=
@5B6?B=1>35 6B?= I?EB
6B?>D<?149>7 G1C85B $?D
EC9>7  45D5B75>D 3?E<4 31EC5
@B?2<5=C CE38 1C ?F5BCE4C9>7
5HD5>454 3I3<5 @5B9?4C ?B 1
453B51C5 9> G1C8 @5B6?B=1>35
=GD9BG9F 
@95B=B; 588=H=J9G 9; :56F=7 GC:H9B9F
:56F=7 7CB8=H=CB9F C BCH :=@@ CJ9F 98;9
C: A5L @=B9
=GD9BG9F 
=GD9BG9F :CF @=EI=8 6@957< 7<@CF=B9
6@957< 7C@CF G5:9 6@957<
C BCH CJ9F:=@@
i
CB79BHF5H98 CF H<=7? :56F=7
GC:H9B9F 7CB8=H=CB9F 5B8
DCK89F6@957< AIGH 69 8=@IH98
K=H< 5 @=HH@9 K5H9F 69:CF9 69=B;
DCIF98 =BHC H<9 8=GD9BG9F
DF9J9BHG CJ9F:@CK 8I9 HC
C6GHFI7H=CB
i
<?C5 D85 6<1@ ?6 D85 45D5B75>D
49C@5>C5B &<51C5 5>CEB5 D85
<94 9C 5>D9B5<I 3<?C54
53?<?B9J9>7
**$*%$
M9G A5M 7CBH5=B GI@D<IF CF
7<@CF=B9 +<9G9 GI6GH5B79G A5M
75IG9 D5FHG C: H<9 K5G<=B; A57<=B9
HC 7CFFC89 C BCH 8M9 =H9AG C:
@5IB8FM =BH<9 K5G<=B; A57<=B9
&B?7B1=C
1>4E>3D9?>C
M7@9 H=A9 K=@@ J5FM 89D9B8=B; CB 7M7@9
G9@97H98 H9AD9F5HIF9 5B8 DF9GGIF9 C:
=B7CA=B; K5H9F K5H9F <5F8B9GG G=N9
C: @C58 HMD9 C: :56F=7G 5B8 8=GH5B79 C:
IB=H :FCA H<9 8F5=B
+<9 A5L=AIA GD=B GD998G C: H<9
DFC;F5AG 5F9 89D9B89BH IDCB H<9
7M7@9 CF 58>IGH=B; H<9 GD=B GD998 G99
D5;9 
1C93 @B?7B1=C
(57E<1B?DD?> ?D
%CFA5@@M 5B8CF <95J=@M GC=@98 7C@CF:5GH
:56F=7G *HIF8M <5F8 K95F=B; =H9AG
A589 C: 7CHHCB CF@=B9B GI7< 5G KCF?
7@CH<9G 5B8 IB89FK95F
(57E<1B?DD?> -1B=
#=;<H@M 5B8CF BCFA5@@M GC=@98
BCBs7C@CF:5GH :56F=7 *HIF8M <5F8
K95F=B; =H9AG A589 C: 7CHHCB CF @=B9B
GI7< 5G >95BG +sG<=FHG 5B8 GK95HG<=FHG
(57E<1B?DD?> ?<4
#=;<H@M GC=@98 BCBs7C@CF:5GH :56F=7
*HIF8M <5F8 K95F=B; =H9AG A589
C:7CHHCB CF @=B9B 7C@CFG H<5H A5M 6@998
CF :589
&5B=1>5>D &B5CC -1B=
H9AG 7CBG=GH=B; C: @=;<H@M 5B8CF
BCFA5@@M GC=@98 BCBs7C@CF:5GH 7CHHCB
D9FA5B9BH DF9GG @=B9B GMBH<9H=7 CF
6@9B898 :56F=7G 5B8 CIH9F ;5FA9BHG
@CH<9G F9EI=F=B; 5 GD97=5@ HIA6@9
G9EI9B79 5B8 GD=B GD998 HC A=B=A=N9
7F95G=B; GI7< 5G 6@CIG9G G<=FHG 5B8
CJ9F5@@G
&5B=1>5>D &B5CC ?<4
H9AG 7CBG=GH=B; C: @=;<H@M 5B8CF
BCFA5@@M GC=@98 BCBs7C@CF:5GH 7CHHCB
D9FA5B9BH DF9GG @=B9B GMBH<9H=7 CF
6@9B898 :56F=7G 5B8 CIH9F ;5FA9BHG
@CH<9G F9EI=F=B; 5 GD97=5@ HIA6@9
G9EI9B79 5B8 GD=B GD998 HC A=B=A=N9
7F95G=B;
)@5391< @B?7B1=C
5<931D5C)9<;C
9@=75H9G G9HH=B;G 5F9 =BH9B898 :CF IG9
K=H< 89@=75H9 95GM 75F9 =H9AG A589 C:
7CHHCB G5H=B GMBH<9H=7 CF 6@9B898
:56F=7G 5B8 7IFH5=BG 8F9GG9G G?=FHG
5B8 6@CIG9G
I@?M =H9AG 9; 7CA:CFH9FG 75B 69
K5G<98 K=H< H<=G 7M7@9 6975IG9 C:
;9BH@9 57H=CB 5B8 588=H=CB5@ F=BG9
5IHCA5H=75@@M 58898
%CGD=BB=B; 69HK99B F=BG9 7M7@9G
1>4 -1C8
5B8 .5G< G9HH=B;G 5F9 =BH9B898 :CF
J9FM 89@=75H9 95GM 75F9 =H9AG H<5H
IGI5@@M F9EI=F9 <5B8 K5G<=B;
+<9G9 7M7@9G <5J9 699B GD97=:=75@@M
89G=;B98 HC DFCJ=89 9LHF9A9@M ;9BH@9
HF95HA9BH C: :56F=7G
*=@? CF CH<9F =H9AG A5F?98 K=H< H<9
O5B8 .5G< GMA6C@ Ì CB H<9 75F9
@569@ 75B 69 G5:9@M K5G<98 K=H< H<=G
7M7@9
!) 1B5
CF GH5=B98 <95J=@M GC=@98 5B8
<5F8K95F=B; :56F=7G @=?9 7<=@8F9BG
>95BG G<99HG HG<=FHG
i
C BCH K5G< B9K AI@H=7C@CF98
@5IB8FM K=H< CH<9F @5IB8FM
HC;9H<9F
)@9>
*D=B 7M7@9 :CF GD=BB=B; K9H <5B8
K5G<98 @5IB8FM
.5H9F =G 8F5=B98 69:CF9 5B8 8IF=B; H<9
GD=B 7M7@9
)?1;
7M7@9 :CF DF9sHF95HA9BH C: <95J=@M
GH5=B98 =H9AG +<9 GC5? 7M7@9 @5GHG
<CIFG 5B8 9B8G K=H< 5 G<CFH GD=B 7M7@9
B19>
5B 69 IG98 HC 8F5=B K5H9F K=H<CIH 5
GD=B 7M7@9
*5=@5B1DEB5 )5DD9>7C
+<9 :C@@CK=B; K5G< H9AD9F5HIF9G 5F9
5J5=@56@9
" * 5F9  °  °
<CH  °  °
K5FA  °  °
7C@8  °  °
#1H9=E= C@9> C@554C ?6 D85
@B?7B1=C
)52 6;160.A<? 9645A H:.E @=6; @=221 6@ 96A ?21
&6/,54*/.3
0&2 -*.54&
2/(2"-
 '24B9.?<AA<;
 &2?:.;2;A &?2@@
 ! ( .?2
 2960.A2@
 (=6;
(54E354 C@9>
)52 6;160.A<? 9645A H?21B021 @=6; 6@ 96A ?21
&B@M =: MCI <5J9 G9@97H98 5 F98I798
GD=B GD998 :CF ;9BH@9 HF95HA9BH C: MCIF
@5IB8FM
5>D<5 C@9> C@554C
)52 6;160.A<? 9645A H2;A92 @=6; @=221 6@ 96A
?21
&6/,54*/.3
0&2 -*.54&
2/(2"-
 .;1 ,.@5
 (<.8
background

$? 69>1< C@9>
+<9 =B8=75HCF @=;<H OBC :=B5@ GD=B =G @=H
F98
CF 89@=75H9 @5IB8FM H<9 K5H9F F9A5=BG
=B H<9 A57<=B9 5:H9F H<9 @5GH F=BG9
,G9 H<=G G9HH=B; HC 5JC=8 7F95G=B; =: H<9
7@CH<=B; 75BBCH 69 H5?9B CIH C: H<9
K5G<=B; A57<=B9 =AA98=5H9@M IDCB
7CAD@9H=CB C: H<9 7M7@9
**$*%$
9:CF9 IB@C58=B; MCI AIGH 8F5=B H<9
F9A5=B=B; K5H9F 6M G9@97H=B; B19>
CF )@9> 5B8 GH5FH=B; H<9 A57<=B9
#?49695BC
)@9> )5<53D9?>
'F9G9H 7M7@9 G9HH=B; C: A5L GD=B GD998
75B 69 7<5B;98
'F9GG H<=G 6IHHCB IBH=@ H<9 89G=F98
G9HH=B; @=;<HG ID
5<1I )D1BD
9:CF9 GH5FH=B; 5 DFC;F5A MCI 75B
AC8=:M 6M K<9B H<9 7M7@9 G<CI@8 69
GH5FH98
'F9GG 5<1I )D1BD 6IHHCB +<9 8=GD@5M
G<CKG H<9 GH5FH H=A9 0:00
+<9 H=A9 75B 69 89@5M98 ID HC 5
A5L=AIA C:  <CIFG K=H< <CIF
=B7F9A9BHG 6M DF9GG=B; H<9 5<1I
)D1BD 6IHHCB 5;5=B
+<9 )D1BD H=A9 69;=BG FIBB=B;
=AA98=5H9@M 5:H9F DIG<=B; H<9
)D1BD&1EC5 6IHHCB +<=G =G =B8=75H98
6M H<9 DC=BHG 69HK99B H<9 8=;=HG
:@5G<=B;
i
<5B;9G HC H<9 )D1BD H=A9 5F9
DCGG=6@9 5H 5BM H=A9 DF9GG H<9
5<1I )D1BD 6IHHCB IBH=@ H<9 B9K
H=A9 5DD95FG
i
: H<9 DFC;F5A =G 7<5B;98 CF =: H<9
DFC;F5A =G =BH9FFIDH98 H<9
DF9G9@97H98 )D1BD H=A9 =G 5@GC
=BH9FFIDH98 +<9 (514I 9> H=A9 C:
H<9 DFC;F5A =G 8=GD@5M98 +<9
)D1BD H=A9 AIGH 69 F9G9@97H98
%@D9?> 2EDD?>C
<5138
.<9B H<=G 6IHHCB =G DF9GG98 56@957<
7M7@9 K=@@ 69 58898 HC H<9G9@97H98
7M7@9
+<9 K5G<=B; 7M7@9 H=A9 =G 9LH9B898
577CF8=B;@M
q +<9 @957< CDH=CB =G BCH 5J5=@56@9
=: H<9 9@=75H9 5B8 K5G< CF .CC@
7M7@9 =G G9@97H98
(9>C5 &<EC
.<9B H<=G 6IHHCB =G DF9GG98 5B
588=H=CB5@ F=BG=B; 7M7@9 K=@@ 69 58898 HC
H<9 G9@97H98 7M7@9
.5G<=B; 7M7@9 H=A9 =G 9LH9B898
577CF8=B;@M
51FI 4EDI
+<9 95JM 8IHM CDH=CB =G
F97CAA9B898 :CF IG9 %$"/ 6?B
851F9<I C?9<54 3<?D85C D81D B5AE9B5
D85 B5=?F1< ?6 D?E78 7B?E>49>
@B?D95>21C54 CD19>C H =G $%*
F97CAA9B898 HC IG9 H<9 95JM 8IHM
CDH=CB K=H< CH<9F 7M7@9G K<9B
@5IB89F=B; BCFA5@ CF @=;<H@M GC=@98
7@CH<9G
.5G<=B; H=A9 =G 9LH9B898
&B@M 7C@8 K5H9F =G =BHFC8I798 HC H<9
8FIA +<9 K5G<=B; A57<=B9 H<9B
<95HG H<9 K5H9F HC H<9 G9@97H98 K5G<
H9AD9F5HIF9 M F5=G=B; H<9
H9AD9F5HIF9 :FCA 7C@8 ID HC H<9 G9H
H9AD9F5HIF9 5@@ 7CADCB9BHG C: H<9
89H9F;9BH 5F9 57H=J5H98 =B GH5;9G :CF
69GH GH5=B F9ACJ5@ 5B8 7@95B=B; F9GI@HG
3?ECD93 )97>1<
B 57CIGH=7 G=;B5@ =B8=75H9G DFC;F5A
GH5HIG9G 9; GH5FH9B8 C: DFC;F5A 5B8
CD9F5H=B; :5I@HG
+C 57H=J5H9 H<9 G=;B5@
q *9@97H 5 DFC;F5A
q 'F9GG HKC C: H<9 &DH=CB
IHHCBG9; @957< 5B8 )=BG9
'@IG IBH=@ 5 @CB; G=;B5@ =G 9A=HH98
+C 8957H=J5H9 H<9 G=;B5@
q *9@97H 5 DFC;F5A
q 'F9GG HKC C: H<9 &DH=CB IHHCBG
5B8 <C@8 IBH=@ 5 G<CFH G=;B5@ =G
9A=HH98
i
C BCH 57H=J5H989G57H=J5H9 H<9
57CIGH=7 G=;B5@ 8IF=B; 5 7M7@9
>4931D?B <978D 12?F5 D85
K)D1BD&1EC5 2EDD?>
+<9 =B8=75HCF @=;<H 7CBJ9MG H<9
:C@@CK=B; =B:CFA5H=CB
B8=75HCF @=;<H 6<1C89>7 B54
'FC;F5A 75B 69 GH5FH98
88=B; @5IB8FM =G DCGG=6@9
B8=75HCF @=;<H =G @=H B54 'FC;F5A=G
FIBB=B;
88=B; @5IB8FM =G BCH DCGG=6@9
6975IG9 H<9 8CCF =G @C7?98 :CF
G5:9HM F95GCBG
#5IB8FM A5M 69 58898 5:H9F DF9GG=B;
H<9 )D1BD&1EC5 6IHHCB
background

)@5391< 651DEB5C
ED? "?14 14:ECD
OIHC #C58 58>IGH 58>IGHG H<9 K5H9F
5B8 9B9F;M 7CBGIADH=CB :CF 957<
DFC;F5A 5B8 89H9FA=B9G H<9 5ACIBH C:
@5IB8FM 5B8 HMD9 C: :56F=7G
+<=G DFC79GG =G 6I=@H =BHC MCIF A57<=B9
5B8 C77IFG 5IHCA5H=75@@M
+<=G 7CBHFC@ F98I79G K5H9F 5B8 9B9F;M
7CBGIADH=CB K<9B K5G<=B; GA5@@
@C58G
+>21<1>354 <?14 45D53D9?> CICD5=
+<9 5IHCA5H=7 IB65@5B798 @C58
89H97H=CB GMGH9A GD=BG H<9 @5IB8FM
G9J9F5@ H=A9G HC 9BGIF9 9J9B
8=GHF=6IH=CB
: H<9 K5G< @C58 =G IB9J9B@M 8=GHF=6IH98
=H K=@@ BCH GD=B :CF G5:9HM F95GCBG CF H<9
:=B5@ GD=B GD998 =G F98I798
9C@<1I54 *9=5
I9 HC H<9G9 5B8 CH<9F 7<5F57H9F=GH=7G
C: H<9 7CBHFC@G H<9 57HI5@ 7M7@9 H=A9 K=@@
J5FM
.<9B 5 DFC;F5A <5G 699B G9@97H98
H<9 9LD97H98 DFC;F5A 8IF5H=CB =G
8=GD@5M98
+<9 :C@@CK=B; K=@@ 9::97H H<9 8=GD@5M98
H=A9
#C58 G=N9
)9D95H98 GD=B 5HH9ADHG HC 9J9B@M
8=GHF=6IH98 @C58
88=H=CB5@ F=BG9 7M7@9G =: 9L79GG=J9
:C5A C77IFG
.5H9F DF9GGIF9 =G HCC @CK
*9@97H=CB C: 588=H=CB5@ CDH=CBG
9; O)=BG9 D@IG
i
0CI A5M BCH=79 H<9G9 9::97HG
ACF9 CF @9GG H=A9 7<5B;9G H<9
8=GD@5M98 H=A9 K<9B H<9M C77IF =B
H<9 7M7@9 : BC CDH=CBG 5F9
G9@97H98 5B8 H<9G9 9::97HG 8C BCH
C77IF H<9 H=A9 =B8=75H98 K=@@ 7CIBH
8CKB IBH=@ H<9 9B8 C: H<9 7M7@9
-1C89>7
q +IFB CB H<9 K5H9F H5DG
q +IFB H<9 DFC;F5A G9@97HCF HC H<9
89G=F98 DFC;F5A
q #C58 H<9 K5G<=B; A57<=B9 5B8
7@CG9 H<9 8CCF
+<9 )D1BD&1EC5 =B8=75HCF @=;<H
:@5G<9G F98
q : B979GG5FM DF9GG H<9 6IHHCBG :CF
588=H=CB5@ CDH=CBG
+<9 =B8=75HCF @=;<H C: H<9 G9@97H98
6IHHCB =G @=H F98
i
: 5B =B7CFF97H 7CA6=B5H=CB K5G
=B58J9FH9BH@M G9@97H98 H<9
=B8=75HCF @=;<H C: H<9 G9@97H98
6IHHCB =G HIFB98 C::
q : B979GG5FM 7<5B;9 H<9 GD=B
GD998 K=H< H<9 )@9> C5<53D9?>
6IHHCB IBH=@ H<9 H<9 89G=F98 GD=B
GD998 =B8=75HCF @=;<H =G @=H
q : B979GG5FM 7<5B;9 H<9 )D1BD
H=A9 'F9GG H<9 5<1I )D1BD 6IHHCB
IBH=@ H<9 89G=F98 )D1BD H=A9 =G
8=GD@5M98
q 'F9GG H<9 )D1BD&1EC5 6IHHCB
+<9 =B8=75HCF @=;<H =G @=H F98
=GD@5M G<CKG H<9 FIB H=A9 C: H<9
G9@97H98 DFC;F5A +<9DFC;F5A
GH5FHG
i
57< DFC;F5A GH9D =G =B8=75H98 6M
H<9 =B8=75HCF @=;<HG IB89F H<9
8=GD@5M
background

EB9>7 -1C89>7
i
E5 D? D85 8978<I 5>79>55B54
CEC@5>C9?> ?6 D89C 1@@<91>35 9D
=1I 5H@5B95>35 1 C8E445B ?B
C81;5 G85> @B?7B5CC9>7 6B?=
<?G5B D? 89785B C@9> C@554C
*89C 2581F9?B 9C >?B=1< 4E5 D?
C896D9>7 ?6 D85 4BE= CICD5= 1>4
C8?E<4 >?D 31EC5 3?>35B>
81>79>7 1 @B?7B1=
q +IFB H<9 DFC;F5A G9@97HCF HC %66
q +IFB H<9 DFC;F5A G9@97HCF HC 5
B9K@M G9@97H98 DFC;F5A
+<9 )D1BD&1EC5 =B8=75HCF @=;<H
:@5G<9G
q : F9EI=F98 7<5B;9 H<9 G9HH=B;G
G99 :FCA '5;9 
q 'F9GG H<9 )D1BD&1EC5 6IHHCB
+<9 DFC;F5A GH5FHG
+<9 =B8=75HCF @=;<H =G @=H
44 1 71B=5>D
>D5BBE@D9>7 D85 @B?7B1=
0CI 75B DIH @5IB8FM =B H<9 8FIA 5:H9F
K5G<=B; 69;=BG H5?9 @5IB8FM CIH C: H<9
8FIA 95F@M CF =BH9FFIDH H<9 DFC;F5A 5H
5BM H=A9
i
H =G BCH F97CAA9B898 HC 588
@5IB8FM 5:H9F H<9 K5G<=B; D<5G9 =G
7CAD@9H9
i
0CI 75B 588 CF F98I79 @5IB8FM 5G
@CB; 5G H<9 )D1BD&1EC5 =B8=75HCF
@=;<H :@5G<9G F98
q 'F9GG H<9 )D1BD&1EC5 6IHHCB
+<9 )D1BD&1EC5 =B8=75HCF @=;<H
:@5G<9G
q &D9B H<9 8CCF
q '@579F9ACJ9 H<9 @5IB8FM
q @CG9 H<9 8CCF
q 'F9GG H<9 )D1BD&1EC5 6IHHCB
+<9 DFC;F5A 7CBH=BI9G
+<9 =B8=75HCF @=;<H =G @=H F98
i
.<9B H<9 )D1BD&1EC5 =B8=75HCF
@=;<H =G @=H F98 H<9 DFC;F5A 75B 69
=BH9FFIDH98 <CK9J9F H<9 8CCF
75BBCH 69 CD9B98 :CF G5:9HM
F95GCBG K5H9F @9J9@ H9AD9F5HIF9
CF GD998 HCC <=;<
i
: H<9 GD=B GD998 =G HCC <=;< H<9
)D1BD&1EC5 =B8=75HCF @=;<H =G @=H
F98 #5IB8FM 75B 69 58898 =B
O'5IG9 AC89 K<9B H<9 8FIA =G 5H
5 GH5B8GH=@@
1>35<9>7 1> 13D9F5
@B?7B1=
: MCI KCI@8 @=?9 HC H9FA=B5H9 5 DFC;F5A
5B8 F9ACJ9 H<9 @5IB8FM
i
: 5 DFC;F5A =G =BH9FFIDH98 5H 5 <=;<
H9AD9F5HIF9 @95J9 H<9 @5IB8FM HC
7CC@ 8CKB IBH=@ H<9 ;@5GG =G 7CC@ HC
HCI7<
q +IFB H<9 DFC;F5A G9@97HCF HC %66
q +IFB H<9 DFC;F5A G9@97HCF HC B19>
CF )@9>
i
CF )@9> G9@97H H<9 89G=F98 GD=B
GD998 6IH BCH >? 69>1< C@9>
q 'F9GG H<9 )D1BD&1EC5 6IHHCB
q .5=H IBH=@ H<=G DFC;F5A 9B8G
q &D9B H<9 8CCF
q ,B@C58 H<9 @5IB8FM
i
: 5 DFC;F5A =G =BH9FFIDH98 5H 5 <=;<
H9AD9F5HIF9 H<9 8CCF A5M F9A5=B
@C7?98 IBH=@ H<9 5DD@=5B79 <5G
7CC@98 8CKB
i
: H<9 DFC;F5A =G H9FA=B5H98 6M
GK=H7<=B; C:: H<9 5DD@=5B79 H<9
8CCF A5M F9A5=B @C7?98
6D5B -1C89>7
+<9 )D1BD&1EC5 =B8=75HCF @=;<H ;C9G
CIH
0:00 5DD95FG =B H<9 8=GD@5M
q &D9B H<9 8CCF
q +IFB H<9 DFC;F5A G9@97HCF HC %66
q @CG9 H<9 H5DG
q )9ACJ9 H<9 @5IB8FM
6 K$? 69>1< C@9> @B5C5<53D54
+<9 )D1BD&1EC5 =B8=75HCF @=;<H :@5G<9G
q +IFB H<9 DFC;F5A G9@97HCF HC
B19> +<9 )D1BD&1EC5 =B8=75HCF
@=;<H :@5G<9G
q 'F9GG H<9 )D1BD&1EC5 6IHHCB
+<9 =B8=75HCF @=;<H =G @=H
q .<9B H<=G DFC;F5A <5G 9B898
CD9B H<9 8CCF
q +IFB H<9 DFC;F5A G9@97HCF HC %66
q @CG9 H<9 H5DG
q )9ACJ9 H<9 @5IB8FM
i
6D5B G1C89>7 <51F5 D85 <?149>7
4??B 1:1B D? 1<<?G D85 9>C945 ?6
D85 G1C89>7 =1389>5 D? 4BI
background

<51>9>7 1>4 1B5
<51>9>7 D85 G1C85B
d
-($$
d
+& -&  ) *" & #+) 
*&"
@K5MG 8=G7CBB97H H<9 5DD@=5B79
:FCA H<9 DCK9F CIH@9H 69:CF9
7@95B=B;
%9J9F 7@95B H<9 K5G<=B; A57<=B9
K=H< 5 DF9GGIF9 K5G<9F
d
-($$
d
+& -&  ) *" & /'#&* &%
%9J9F IG9 :@5AA56@9 GC@J9BHG HC
7@95B H<9 5DD@=5B79
**$*%$
&775G=CB5@@M 7<97? :CF 5BM :CF9=;B
C6>97HG 9 ; 7C=BG D5D9F 7@=DG
69HK99B H<9 8FIA 5B8 FI669F G95@
*% ,% (9C; ?6 BECD
<51>9>7 D85 1@@<91>35 8?EC9>7
1>4 3?>DB?< @1>5<
G F9EI=F98
q ,G9 <CH GC5DM K5H9F CF 5 A=@8
BCBs56F5G=J9 7@95B=B; 5;9BH
q )I6 8FM K=H< 5 GC:H HCK9@
<51>9>7 D85 4BE=
: FIGH GDCHG <5J9 :CFA98 8I9 HC
@9:HsCJ9F 896F=G 9; 7C=BG D5D9F 7@=DG
B5=@G
q ,G9 5 7<@CF=B9s:F99 7@95B=B; 5;9BH
C@@CK H<9 A5BI:57HIF9FG
=BGHFI7H=CBG %9J9F IG9 GH99@ KCC@
<51>9>7 D85 45D5B75>D 49C@5>C5B
: F9G=8I5@ 89H9F;9BHG CF 588=H=J9G <5J9
577IAI@5H98
CF =: GC:H9B9F6@957< 5F9 BCH :I@@M F=BG98
CIH
q &D9B H<9 :@5D C: H<9 89H9F;9BH
8=GD9BG9F
q 'I@@ CIH H<9 GC:H9B9F6@957<
7CAD5FHA9BH =B 5 J9FH=75@ 8=F97H=CB
5B8 F9ACJ9
q @95B H<9 89H9F;9BH 8=GD9BG9F
=BG9FH IB89F FIBB=B; K5H9F
+<=G 75B 69 8=G5GG9A6@98 =BHC HKC
D5FHG
q BG9FH H<9 89H9F;9BH 8=GD9BG9F IBH=@
=H 7@=7?G =BHC D@579
<51>9>7 G1D5B 9><5D CDB19>5BC
+<=G =G B979GG5FM =: J9FM @=HH@9 CF BC
K5H9F :@CKG =BHC H<9 K5G<=B; A57<=B9
=FGH F9@95G9 H<9 K5H9F DF9GGIF9 =B H<9
GIDD@M <CG9G
q +IFB C:: H<9 K5H9F H5DG
q +IFB H<9 DFC;F5A G9@97HCF HC 5BM
DFC;F5A 9L79DH )@9> CF B19>
q 'F9GG )D1BD&1EC5 6IHHCB 5B8
K5=H 5DDFCL=A5H9@M CB9 A=BIH9
q +IFB H<9 DFC;F5A G9@97HCF HC %66
<51>9>7 D85 CDB19>5BC ?> D85
G1D5B D1@
B 6CH< H<9 <CH 5B8 7C@8 K5H9F H5D
q =G7CBB97H H<9 <CG9 :FCA H<9
K5H9F H5D
q )=BG9 H<9 GHF5=B9F IB89F :@CK=B;
K5H9F
q )97CBB97H H<9 <CG9
<51>9>7 D85 CDB19>5BC ?> D85
G1C89>7 =1389>5
&B 6CH< H<9 <CH 5B8 7C@8 K5H9F H5D
q =G7CBB97H H<9 <CG9 :FCA H<9
657? C: H<9 K5G<=B; A57<=B9
q 'I@@ CIH H<9 GHF5=B9F 5B8 F=BG9
IB89F FIBB=B; K5H9F
q BG9FH H<9 GHF5=B9F 5B8 F97CBB97H
H<9 <CG9
q +IFB CB H<9 K5H9F H5DG 5B8 7<97?
H<5H H<9F9 5F9 BC @95?G :K5H9F =G
@95?=B; 7<97? H<5H H<9 GHF5=B9F =G
DFCD9F@M 5HH57<98
q +IFB C:: H<9 K5H9F H5DG
background

<51>9>7 *9@C
H =G F97CAA9B898 H<5H 5 GA5@@ 5ACIBH
C: <CIG9<C@8 6@957< 69 FIB H<FCI;< H<9
K5G<9F 9J9FM ACBH<G
.=H< BC @5IB8FM =B H<9 A57<=B9 FIB <9
A57<=B9 5G :C@@CKG
q 'CIF 7ID C: 6@957< =B 9H9F;9BH
7CAD5FHA9BH C: H<9 8=GD9BG9F
q )IB 5 )9;I@5FCHHCB CH
DFC;F5A
5C31<9>7 D85 G1C89>7
=1389>5
**$*%$
9G75@=B; 5;9BHG 7CBH5=B 57=8G
K<=7< A5M 5HH57? D5FHG C: H<9
K5G<=B; A57<=B9 5B8 8=G7C@CF H<9
@5IB8FM
'FCJ=898 H<5H MCI IG9 H<9 7CFF97H HMD9
C: 89H9F;9BH =H =G BCH B979GG5FM HC
89G75@9 H<9 K5G<=B; A57<=B9
: K<=H9 GDCHG @=A9 CF A=B9F5@ 89DCG=HG
5DD95F CB H<9 =BH9F=CF C: H<9 K5G<=B;
A57<=B9 8FIA MCI 75B IG9 5 89G75@=B;
5;9BH HC F9ACJ9 H<9A
CK9J9F =: H<9 5DD@=5B79 <5G HC
6989G75@98 D@95G9 :C@@CK H<9
=BGHFI7H=CBG DFCJ=898 6M H<9 89G75@=B;
5;9BH A5BI:57HIF9F
background

*B?E2<5C8??D9>7 ?6 #9>?B 1E<DC
d
-($$
d
+& -&  ) *" & #+) 
*&"
)9D5=FG G<CI@8 CB@M 69 75FF=98 CIH
6M 5B 5IH<CF=N98 H97<B=7=5B
: F9D5=FG 5F9 B979GG5FM 5B8 MCI
75BBCH 9@=A=B5H9 H<9 :5I@H MCIFG9@: K=H<
H<9 5=8 C: H<9 :C@@CK=B; H56@9
q +IFB H<9 DFC;F5A G9@97HCF HC %66
q =G7CBB97H H<9 K5G<=B; A57<=B9
:FCA H<9 DCK9F CIH@9H
q +IFB C:: H<9 K5H9F H5DG
q 5@@ IGHCA9F *9FJ=79
F9:9FHC'5;9 
"5,4
/33*#,& $"53& $4*/.
)52 1<<? 0.;;<A /2
<=2;21
H$< 36;.9 @=6; @2920A21 (2920A 2"*. <? 0*.
)52 1<<? 0.;;<A /2
<=2;21
&<D2? 3.69B?2 ; 6;A2??B=A21 =?<4?.: D699 /2 ?2@B:21 D52; =<D2? 6@
?2@A<?21 3 A52 9.B;1?F 6@ A< /2 ?2:<C21 1B?6;4 .=<D2?
3.69B?2 75@@ B@A<:2? (2?C602
?232?A<&.42 
&?<4?.: 6@ ?B;;6;4 .;1<? A52 1<<? 6@ 9<0821 3<? @.32AF
?2.@<;@
,.6A B;A69 A52 =?<4?.: 2;1@ @22 &.42 
&9B4 6@ 9<<@2 <? ;<A 6;@2?A21 96:6;.A2 A52 0.B@2
&?<4?.: @2920A<? AB?;21 A< '' /23<?2 2;1 <3 =?<4?.: (2920A . =?<4?.:
<<? 0.;;<A /2 <=2;21
2C2; A5<B45 A52 .==96.;02
5.@ /22; @D6A0521 <33 .;1
<; .4.6;
<? @.32AF ?2.@<;@ A52 1<<? 5.@ /22; 9<0821 /20.B@2 A52
D.A2? 92C29 A2:=2?.AB?2 <? @=221 6@ A<< 5645
(22 11 . 4.?:2;A ;A2??B=A6;4 A52 =?<4?.: &.42
<;A?<9 9645A@ 1< ;<A 9645A
B=
3B@2 5.@ /9<D;
'2=9.02 A52 3B@2 <3 A52 6;16C61B.9 06?0B6A
<;A?<9 9645A@ 1< ;<A 9645A
B=
3B@2 5.@ /9<D;
.99 B@A<:2? (2?C602 63 A56@ 3.B9A ?20B?@
&<D2? 3.69B?2 ; 6;A2??B=A21 =?<4?.: D699 /2 ?2@B:21 D52; =<D2? 6@
?2@A<?21 3 A52 9.B;1?F 6@ A< /2 ?2:<C21 1B?6;4 . =<D2?
3.69B?2 75@@ B@A<:2? (2?C602
?232?A<&.42 
&?<4?.: 1<2@ ;<A @A.?A
4"24"53& 6;160.A<? 9645A
39.@52@
(A.?A&.B@2 /BAA<; ;<A =?2@@21 &?2@@ A52 4"24"53& /BAA<;
&?<4?.: 1<2@ ;<A @A.?A
;160.A<? 9645A H&.% 6@ 96A
<<? ;<A 09<@21 =?<=2?9F
5208 D52A52? 9.B;1?F 6@ A?.==21 6; 1<<?
;160.A<? 9645A H&.% 6@ 96A
.;1 16@=9.F 6@ 39.@56;4
H
9<@2 A52 1<<? . 09608 @5<B91 /2 52.?1
&?<4?.: 0<;A6;B2@
(=6; @=221 0.;;<A /2
@2920A21
(=6;;6;4 6@ .9?2.1F 6; =?<4?2@@ 1B?6;4 @=6; 0F092 A52
@=221 0.;;<A /2 05.;421
(2920A @=221 /23<?2 @=6;;6;4
&?<4?.: @2920A<? 6@ @2A A< %2"*. @=6; 0F092 6@ ;<A
=<@@6/92 D6A5 A56@ =?<4?.:
3 ?2>B6?21 @2920A .;<A52? =?<4?.:
,.A2? 1<2@ ;<A 2;A2? A52
:.056;2 <? 12A2?42;A 6@ ;<A
D.@521 .D.F
,.A2? A.=@ ;<A AB?;21 <; )B?; <; D.A2? A.=@ .;1 =?2@@ 4"24"53& /BAA<;
&?<4?.: 0<;A6;B2@
D.@521 .D.F
;160.A<? 9645A H30*. 6@ 96A
(B==9F 5<@2 86;821 <? =6;0521 96:6;.A2 A52 0.B@2
;160.A<? 9645A H30*. 6@ 96A
.;1 16@=9.F 6@ 39.@56;4
(A?.6;2?@ 6; @B==9F 5<@2 09<4421 92.; A52 D.A2? 6;92A @A?.6;2?@ @22 &.42 
.;1 16@=9.F 6@ 39.@56;4
H <? :
,.A2? =?2@@B?2 A<< 9<D 96:6;.A2 A52 0.B@2
,.A2? 0.;;<A /2 @22; 6;
1?B:
)56@ 6@ ;<A . 3.B9A
)52 D.A2? 92C29 6@ /29<D A52 C6@6/92 =.?A <3 A52 1?B:
;160.A<? 9645A H?6;@2 6@ 96A
.;1 16@=9.F 6@ 39.@56;4
H D6A5 ;< D.A2? ?2[
:.6;6;4 6; AB/
(B1@ <? =B:= 6@ /9<0821 *@2 92@@ 12A2?42;A 3<? 3BAB?2 D.@5 9<.1@ 2A2?42;A@
@=206360.99F 12@64;21 3<? F<B 645 336062;A0F D.@52?
=?<1B02 32D2? @B1@ .;1 D699 6;09B12 A52 92AA2?@ H
<; A52 =.08.46;4 92.; A52 D.A2? 1?.6;.42 =6=2
.;1<? 1?.6; 5<@2 )B?; A52 =?<4?.: @2920A<? A< H/''
.;1 ?2@A.?A 2"*. =?<4?.:
,.A2? 6@ 39<D6;4 <BA 3?<:
)52 A5?2.1 <3 A52 @B==9F 5<@2 6@ ;<A A645A )645A2; A52 A5?2.1
,.A2? 6@ 39<D6;4 <BA 3?<:
B;12?;2.A5 A52 :.056;2
"2.8 6; A52 1?.6; 5<@2 '2=9.02 A52 1?.6; 5<@2
background

"5,4
/33*#,& $"53& $4*/.
(B1@ 0<:6;4 <BA <3 A52
12A2?42;A 16@=2;@2?
)<< :B05 @<.= <? ;<; @<.= B@21 =B:= 0<B91
;<A ?2:<C2 @B1@
#6E A./92@=<<; <3 3./?60 @<3A2;2? D6A5 =A ½ 96A?2
<3 D.A2? .;1 =<B? 6;A< 12A2?42;A 16@=2;@2? 
12A2?42;A 16@=2;@2?
;<A ?2:<C2 @B1@
*@2 92@@ 12A2?42;A 3<? 3BAB?2 D.@5 9<.1@ 2A2?42;A@
@=206360.99F 12@64;21 3<? F<B 645 336062;A0F D.@52?
=?<1B02 32D2? @B1@ .;1 D699 6;09B12 A52 92AA2?@ H
<; A52 =.08.46;4
'2=2.A21 @=6;;6;4 )56@ 6@ ;<A . 3.B9A
)52 6:/.9.;02 0<:=2;@.A6<; @F@A2: 6@ .AA2:=A6;4 A<
/.9.;02 A52 9<.1 A5?<B45 ?2=2.A21 @=6;@
9D.F@ 9<.1 A52 1?B: D6A5 9.?42 ".% @:.99 6A2:@
A<42A52?
)52 9.B;1?F D.@ ;<A
@=B;
".?42 6A2:@ <3 09<A56;4 5.C2 /20<:2 2;A.;4921 .;1
0<B91 ;<A /2 16@A?6/BA21 2C2;9F 6; A52 1?B: <? @.32[
AF ?2.@<;@ A52 5645\@=221 @=6; 0F092 D.@ .BA<:.A6[
0.99F @B==?2@@21
9D.F@ 9<.1 A52 1?B: D6A5 9.?42 ".% @:.99 6A2:@
A<42A52?
&?<4?.: 1B?.A6<; 2E[
A2;121
)56@ 6@ ;<A . 3.B9A
)52 @B1@ 12A20A6<; 32.AB?2 5.@ .0A6C.A21 .; .116[
A6<;.9 ?6;@6;4 0F092 A< ?21B02 A52 .:<B;A <3 @B1@
11 . :<?2 .==?<=?6.A2 .:<B;A <3 12A2?42;A
)56@ 6@ ;<A . 3.B9A
)52 6:/.9.;02 0<:=2;@.A6<; @F@A2: 6@ .AA2:=A6;4 A<
/.9.;02 A52 9<.1 A5?<B45 ?2=2.A21 @=6;@
9D.F@ 9<.1 A52 1?B: D6A5 9.?42 ".% @:.99 6A2:@
A<42A52?
*;@[email protected]<?F D.@56;4
?2@B9A
)52 124?22 <3 @<696;4 D.@ 56452? A5.; 2@A6:.A21 (2920A @B6A./92 =?<4?.:
<?
&"68 %548 .@ .; .116A6<;.9 <=A6<;
$<A 2;<B45 12A2?42;A 11 12A2?42;A .00<?16;4 A< A52 :.;B3.0AB?2?@
@=206360.A6<;@
2A2?42;A ?2@61B2 <; A52
9.B;1?F
(<:2 =5<@=5.A2[3?22 12A2?42;A@ 0<;A.6; D.A2?[6;@<9[
B/92 ?2@61B2@ A5.A :.F .==2.? .@ 9645A @=<A@ <; A52
9.B;1?F
?B@5 <33 @=<A@ D52; 9.B;1?F 6@ 1?F
?.F ?2@61B2 <; A52 9.B;[
1?F
6?A .00B:B9.A6<; 3?<: <6;A:2;A@ 3.A@ <? <69@ 11 A52 :.E6:B: .:<B;A <3 12A2?42;A .;1 @2920A
A52 56452@A =2?:6@@6/92 A2:=2?.AB?2
(F@A2: @5.82@ <? @5B112?@
D52; =.@@6;4 3?<: 9<D2? A<
56452? @=221 @=6;;6;4
?B: @F@A2: @B@=2;@6<; 0.; @563A 1B?6;4 @=221 B= A56@
6@ ;<A . 3.69B?2
#6E @:.99 .;1 9.?42 9.B;1?F =6202@ 6; 9<.1 A< :6;6:6G2
A56@ 23320A
: H<9 :5I@H 75BBCH 69 9@=A=B5H98 K=H< H<9 5=8 C: H<9 56CJ9 H56@9 GK=H7< H<9 5DD@=5B79 C:: K5=H G97CB8G GK=H7< H<9 5DD@=5B79 CB
5;5=B G9@97H 5B8 GH5FH H<9 DFC;F5A
: H<9 :5I@H 7CBH=BI9G 75@@ 7IGHCA9F G9FJ=79 G99 '5;9 
background

ECD?=5B )5BF935
+<9 K5G<=B; A57<=B9 F9EI=F9G BC
GD97=5@ 75F9 CH<9F H<5B H<9 75F9 5B8
7@95B=B; BCH98 DF9J=CIG@M : MCI 5F9
<5J=B; 5 DFC6@9A K=H< MCIF K5G<=B;
A57<=B9 D@95G9 F9:9F HC D5;9 
69:CF9 75@@=B; :CF G9FJ=79
: G9FJ=79 697CA9G B979GG5FM 7CBH57H
MCIF 895@9F CF =BGH5@@9F CF 5B 5IH<CF=N98
G9FJ=79 79BH9F C BCH 5HH9ADH HC F9D5=F
H<9 5DD@=5B79 MCIFG9@: BM KCF?
D9F:CFA98 6M IB5IH<CF=N98 D9FGCBB9@
A5M JC=8 H<9 K5FF5BHM
: MCI 5F9 <5J=B; 5 DFC6@9A K=H< MCIF
K5G<=B; A57<=B9 5B8 5F9 BCH D@95G98
K=H< H<9 G9FJ=79 MCI <5J9 F979=J98
q =FGH D@95G9 7CBH57H MCIF =BGH5@@9F
CF H<9 IH<CF=N98 *9FJ=79
CBHF57HCF =B MCIF 5F95 5B8
9LD@5=B HC H<9A K<M MCI 5F9 BCH
G5H=G:=98 +<=G K=@@ IGI5@@M 7CFF97H
H<9 DFC6@9A
q : 5:H9F KCF?=B; K=H< MCIF =BGH5@@9F
CF G9FJ=79 H97<B=7=5B H<9 DFC6@9A
GH=@@ <5G BCH 699B F9GC@J98 HC MCIF
G5H=G:57H=CB D@95G9 @9H IG ?BCK
9=H<9F 6M KF=H=B; HC IG 5H
* CA9 DD@=5B79G
 $7 5889B J9
IBH=B;HCB 957<  
CF 75@@=B; IG

: KF=H=B; CF 75@@=B; D@95G9 DFCJ=89 H<9
:C@@CK=B; =B:CFA5H=CB
$C89@ %IA69F
*9F=5@ %IA69F
5H9 C: &F=;=B5@ 'IF7<5G9
5H9 'FC6@9A C77IFF98
LD@5B5H=CB C: 'FC6@9A
: KF=H=B; D@95G9 5@GC =B7@I89 585MH=A9
H9@9D<CB9 BIA69F 5B8 57CDM C: H<9
G5@9G =BJC=79
0CI K=@@ :=B8 H<9 AC89@ BIA69F 5B8
G9F=5@ BIA69F CB H<9 F5H=B; D@5H9
@C75H98 5H H<9 <CIG=B; J=G=6@9 K=H< CD9B
8CCF
background

)**#$* % "#* &(%+* -(($*/
-81D D89C -1BB1>DI 3?F5BC -8? 9D
@@<95C D?
+<9 @=A=H98 K5FF5BHM DFCJ=898 6M *
CA9 DD@=5B79G &* =B H<=G
*H5H9A9BH C: @=A=H98 DFC8I7H .5FF5BHM
5DD@=9G CB@M HC H<9 CG7<  *9F=9G
K5G<9F CG7< GC@8 HC MCI H<9 :=FGH
IG=B; DIF7<5G9F DFCJ=898 H<5H H<9
'FC8I7H K5G DIF7<5G98  :CF MCIF
BCFA5@ <CIG9<C@8 BCB7CAA9F7=5@
IG9 5B8 <5G =B :57H 5H 5@@ H=A9G CB@M
699B IG98 :CF BCFA5@ <CIG9<C@8
DIFDCG9G  B9K 5H F9H5=@ BCH 5
8=GD@5M O5G =G CF DF9J=CIG@M F9HIFB98
AC89@ 5B8 BCH :CF F9G5@9 CF
7CAA9F7=5@ IG9 5B8  K=H<=B H<9
,B=H98 *H5H9G CF 5B585 5B8 <5G 5H 5@@
H=A9G F9A5=B98 K=H<=B H<9 7CIBHFM C:
CF=;=B5@ DIF7<5G9 +<9 K5FF5BH=9G
GH5H98 <9F9=B 5DD@M CB@M HC H<9 :=FGH
DIF7<5G9F C: H<9 'FC8I7H 5B8 5F9 BCH
HF5BG:9F56@9
i
'@95G9 A5?9 GIF9 HC F9HIFB MCIF
F9;=GHF5H=CB 75F8 K<=@9 BCH
B979GG5FM HC 9::97HI5H9 K5FF5BHM
7CJ9F5;9 =H =G H<9 69GH K5M :CF
CG7< HC BCH=:M MCI =B H<9 IB@=?9@M
9J9BH C: 5 G5:9HM BCH=79 CF DFC8I7H
F975@@
?G "?>7 D85 -1BB1>DI "1CDC
CG7< K5FF5BHG H<5H H<9 'FC8I7H =G :F99
:FCA 89:97HG =B A5H9F=5@G 5B8
KCF?A5BG<=D :CF 5 D9F=C8 C: H<F99
<IB8F98 G=LHM:=J9  85MG :FCA H<9
85H9 C: DIF7<5G9 +<9 :CF9;C=B;
H=A9@=B9 69;=BG IDCB H<9 85H9 C:
DIF7<5G9 5B8 G<5@@ BCH 69 GH5@@98
HC@@98 9LH9B898 CF GIGD9B898 :CF 5BM
F95GCB K<5HGC9J9F
(5@19B(5@<135 1C /?EB H3<EC9F5
(5=54I IF=B; H<=G K5FF5BHM D9F=C8
CG7< CF CB9 C: =HG 5IH<CF=N98 G9FJ=79
DFCJ=89FG K=@@ F9D5=F MCIF 'FC8I7H
K=H<CIH 7<5F;9 HC MCI GI6>97H HC
79FH5=B @=A=H5H=CBG GH5H98 <9F9=B =: MCIF
'FC8I7H DFCJ9G HC <5J9 699B
A5BI:57HIF98 K=H< 5 89:97H =B A5H9F=5@G
CF KCF?A5BG<=D : F95GCB56@9
5HH9ADHG HC F9D5=F H<9 'FC8I7H <5J9
699B A589 K=H<CIH GI779GG H<9B
CG7< K=@@ F9D@579 MCIF 'FC8I7H
ID;F589 AC89@G A5M 69 5J5=@56@9 HC
MCI =B CG7<G GC@9 8=G7F9H=CB :CF 5B
588=H=CB5@ 7<5F;9 @@ F9ACJ98 D5FHG
5B8 7CADCB9BHG G<5@@ 697CA9 H<9
DFCD9FHM C: CG7< 5H =HG GC@9 CDH=CB @@
F9D@5798 5B8CF F9D5=F98 D5FHG G<5@@
5GGIA9 H<9 =89BH=HM C: H<9 CF=;=B5@ D5FH
:CF DIFDCG9G C: H<=G K5FF5BHM 5B8 H<=G
K5FF5BHM G<5@@ BCH 69 9LH9B898 K=H<
F9GD97H HC GI7< D5FHG CG7<G GC@9
@=56=@=HM 5B8 F9GDCBG=6=@=HM <9F9IB89F =G
HC F9D5=F A5BI:57HIF9F89:97H=J9
'FC8I7H CB@M IG=B; 5
CG7<5IH<CF=N98 G9FJ=79 DFCJ=89F
8IF=B; BCFA5@ 6IG=B9GG <CIFG
CF G5:9HM 5B8 DFCD9FHM 85A5;9
7CB79FBG CG7< <=;<@M F97CAA9B8G
H<5H MCI 8C BCH 5HH9ADH HC F9D5=F H<9
'FC8I7H MCIFG9@: CF IG9 5B
IB5IH<CF=N98 G9FJ=79F CG7< K=@@ <5J9
BC F9GDCBG=6=@=HM CF @=56=@=HM :CF F9D5=FG CF
KCF? D9F:CFA98 6M 5 BCB5IH<CF=N98
G9FJ=79F : MCI 7<CCG9 HC <5J9
GCA9CB9 CH<9F H<5B 5B 5IH<CF=N98
G9FJ=79 DFCJ=89F G9FJ=79 MCIF 'FC8I7H
+ * .))%+0 . ##
,+&$+ ##0 &$ %,##
% -&  IH<CF=N98 G9FJ=79
DFCJ=89FG 5F9 H<CG9 D9FGCBG CF
7CAD5B=9G H<5H <5J9 699B GD97=5@@M
HF5=B98 CB CG7< DFC8I7HG 5B8 K<C
DCGG9GG =B CG7<G CD=B=CB 5 GID9F=CF
F9DIH5H=CB :CF 7IGHCA9F G9FJ=79 5B8
H97<B=75@ 56=@=HM BCH9 H<5H H<9M 5F9
=B89D9B89BH 9BH=H=9G 5B8 5F9 not
5;9BHG D5FHB9FG 5::=@=5H9G CF
F9DF9G9BH5H=J9G C: CG7<
%CHK=H<GH5B8=B; H<9 :CF9;C=B; CG7<
K=@@ BCH =B7IF 5BM @=56=@=HM CF <5J9
F9GDCBG=6=@=HM :CF H<9 'FC8I7H =: =H =G
@C75H98 =B 5 F9ACH9 5F95 ACF9 H<5B
 A=@9G :FCA 5B 5IH<CF=N98 G9FJ=79
DFCJ=89F CF =G =B 5 F95GCB56@M
=B5779GG=6@9 <5N5F8CIG H<F95H9B=B;
CF HF957<9FCIG @C75@9 GIFFCIB8=B;G CF
9BJ=FCBA9BH =B 5BM GI7< 9J9BH =: MCI
F9EI9GH CG7< KCI@8 GH=@@ D5M :CF @56CF
5B8 D5FHG 5B8 G<=D H<9 D5FHG HC H<9
B95F9GH G9FJ=79 DFCJ=89F 6IH MCI KCI@8
GH=@@ 69 :I@@M @=56@9 5B8 F9GDCBG=6@9 :CF
5BM HF5J9@ H=A9 CF CH<9F GD97=5@ 7<5F;9G
6M H<9 G9FJ=79 7CAD5BM 5GGIA=B; H<9M
5;F99 HC A5?9 H<9 G9FJ=79 75@@
%ED ?6 -1BB1>DI &B?4E3D CG7< =G
IB89F BC C6@=;5H=CB 6M @5K CF
CH<9FK=G9 HC DFCJ=89 MCI K=H< 5BM
7CB79GG=CBG =B7@I8=B; F9D5=FG
DFCF5H9G CF 'FC8I7H F9D@579A9BH
CB79 H<=G K5FF5BHM <5G 9LD=F98
-1BB1>DI H3<EC9?>C +<9 K5FF5BHM
7CJ9F5;9 89G7F=698 <9F9=B 9L7@I89G 5@@
89:97HG CF 85A5;9 H<5H 5F9 BCH H<9
8=F97H :5I@H C: CG7< =B7@I8=B; K=H<CIH
@=A=H5H=CB CB9 CF ACF9 C: H<9 :C@@CK=B;
 IG9 C: H<9 'FC8I7H =B 5BMH<=B; CH<9F
H<5B =HG BCFA5@ 7IGHCA5FM 5B8
=BH9B898 A5BB9F =B7@I8=B; K=H<CIH
@=A=H5H=CB 5BM :CFA C: 7CAA9F7=5@ IG9
IG9 CF GHCF5;9 C: 5B =B8CCF DFC8I7H
CIH8CCFG IG9 C: H<9 'FC8I7H =B
7CB>IB7H=CB K=H< 5=F CF K5H9F;C=B;
J9GG9@G  5BM D5FHMG K=@@:I@
A=G7CB8I7H B9;@=;9B79 A=GIG9
56IG9 577=89BHG B9;@97H =ADFCD9F
CD9F5H=CB :5=@IF9 HC A5=BH5=B =ADFCD9F
CF B9;@=;9BH =BGH5@@5H=CB H5AD9F=B;
:5=@IF9 HC :C@@CK CD9F5H=B; =BGHFI7H=CBG
A=G<5B8@=B; IB5IH<CF=N98 G9FJ=79
=B7@I8=B; G9@:D9F:CFA98 O:=L=B; CF
9LD@CF5H=CB C: H<9 5DD@=5B79G =BH9FB5@
KCF?=B;G  58>IGHA9BH 5@H9F5H=CB CF
AC8=:=75H=CB C: 5BM ?=B8  5 :5=@IF9 HC
7CAD@M K=H< 5BM 5DD@=756@9 GH5H9 @C75@
7=HM CF 7CIBHM 9@97HF=75@ D@IA6=B;
5B8CF 6I=@8=B; 7C89G F9;I@5H=CBG CF
@5KG =B7@I8=B; :5=@IF9 HC =BGH5@@ H<9
DFC8I7H =B GHF=7H 7CB:CFA=HM K=H< @C75@
:=F9 5B8 6I=@8=B; 7C89G 5B8 F9;I@5H=CBG
 CF8=B5FM K95F 5B8 H95F GD=@@G C:
:CC8 @=EI=8 ;F95G9 577IAI@5H=CBG CF
CH<9F GI6GH5B79G H<5H 577IAI@5H9 CB
=B CF 5FCIB8 H<9 DFC8I7H 5B8  5BM
9LH9FB5@ 9@9A9BH5@ 5B8CF
9BJ=FCBA9BH5@ :CF79G 5B8 :57HCFG
=B7@I8=B; K=H<CIH @=A=H5H=CB F5=B K=B8
G5B8 :@CC8G :=F9G AI8 G@=89G :F99N=B;
H9AD9F5HIF9G 9L79GG=J9 AC=GHIF9 CF
9LH9B898 9LDCGIF9 HC <IA=8=HM
@=;<HB=B; DCK9F GIF;9G GHFI7HIF5@
:5=@IF9G GIFFCIB8=B; H<9 5DD@=5B79 5B8
57HG C: C8 B BC 9J9BH G<5@@ CG7<
<5J9 5BM @=56=@=HM CF F9GDCBG=6=@=HM
K<5HGC9J9F :CF 85A5;9 HC GIFFCIB8=B;
DFCD9FHM =B7@I8=B; 756=B9HFM :@CCFG
79=@=B;G 5B8 CH<9F GHFI7HIF9G CF C6>97HG
5FCIB8 H<9 'FC8I7H @GC 9L7@I898
:FCA H<=G K5FF5BHM 5F9 G7F5H7<9G B=7?G
A=BCF 89BHG 5B8 7CGA9H=7 85A5;9G
CB 9LH9FB5@ GIF:579G 5B8 9LDCG98
D5FHG 'FC8I7HG CB K<=7< H<9 G9F=5@
BIA69FG <5J9 699B 5@H9F98 89:5798
CF F9ACJ98 G9FJ=79 J=G=HG HC =BGHFI7H =B
H<9 IG9 C: H<9 'FC8I7H CF J=G=HG K<9F9
H<9F9 =G BCH<=B; KFCB; K=H< H<9
'FC8I7H 7CFF97H=CB C: =BGH5@@5H=CB
DFC6@9AG MCI 5F9 GC@9@M F9GDCBG=6@9 :CF
5BM GHFI7HIF9 5B8 G9HH=B; :CF H<9
'FC8I7H =B7@I8=B; 5@@ 9@97HF=75@
D@IA6=B; CF CH<9F 7CBB97H=B; :57=@=H=9G
:CF DFCD9F :CIB85H=CB:@CCF=B; 5B8 :CF
5BM 5@H9F5H=CBG =B7@I8=B; K=H<CIH
@=A=H5H=CB 756=B9HFM K5@@G :@CCFG
G<9@J=B; 9H7 5B8 F9G9HH=B; C:
6F95?9FG CF :IG9G *% * .*$*
""%- / "- *)
-(($*/ )*) %+* /%+(
."+), (#) -*
()&* *% &(%+*
-*( * "# ()) $
%$*(* %( *%(* $"+$
)*(* ""*/ %(
$"$ %( %*(-)
*) -(($*/ ) $ "+ %
"" %*( -(($*)
-*( .&()) %( #&"
$/ -(($*/ #&" / "-
-*( %( #$*"*/
%( *$)) %( &(*+"(
&+(&%) %( %*(-) )""
 *, %$"/ %( *
&(% ** *) .&())
"#* -(($*/ )
*, $ $% ,$* -""
* #$+*+((  ""
%( %$)'+$*" )&"
$$*" $(*
K+)$)) "%))K $%(
&+$*, #) "%))) %(
background

.&$)) $"+$ -*%+*
"#**%$ *# -/ (%#
-%(! %*") $%(
()*+($* #")
(#%""$ .&$)) $
.)) % (* #)
- ( $*,"/ +)
."+),"/ / %) %(
%*(-)
)%# )**) % $%* ""%-
* ."+)%$ %( "#**%$
% $$*" %(
%$)'+$*" #) $
)%# )**) % $%* ""%-
"#**%$) %$ %- "%$ $
#&" -(($*/ ")*) )%
* %, "#**%$) #/
$%* &&"/ *% /%+
*) -(($*/ ,) /%+
)& "" (*) $ /%+
#/ ")% , %*( (*)
- ,(/ (%# )** *%
)** %C 5HH9ADH HC 5@H9F AC8=:M CF
5A9B8 H<=G K5FF5BHM G<5@@ 69 9::97H=J9
IB@9GG 5IH<CF=N98 =B KF=H=B; 6M 5B
C::=79F C: *
?G D? %2D19> -1BB1>DI )5BF935 +C
C6H5=B K5FF5BHM G9FJ=79 :CF MCIF
'FC8I7H MCI G<CI@8 7CBH57H H<9
B95F9GH CG7< 5IH<CF=N98 G9FJ=79
79BH9F
* CA9 DD@=5B79G
 $75889B J9BI9
IBH=B;HCB 957<
 

background

)**#$* % -(($*) %( %) "%*)
-)()
+<9 K5FF5BH=9G DFCJ=898 6M * CA9
DD@=5B79G 44CG7< =B H<=G *H5H9A9BH
C: .5FF5BH=9G 5DD@M CB@M HC CG7<
@CH<9G K5G<9FG GC@8 HC H<9 :=FGH IG=B;
DIF7<5G9F 6M CG7< CF =HG 5IH<CF=N98
895@9FG F9H5=@9FG CF G9FJ=79 79BH9FG =B
H<9 ,B=H98 *H5H9G CF 5B585 +<9
.5FF5BH=9G DFCJ=898 <9F9=B 5F9 BCH
HF5BG:9F56@9
  !
  !
-2.? B99 "6:6A21 ,.??.;AF
?<: .A2 <3 ;@A.99.A6<;
<@05 D699 ?2=.6? <? ?2=9.02 3?22 <3 05.?42 .;F 0<:=<;2;A =.?A A5.A
=?<C2@ 12320A6C2 B;12? 0<;16A6<;@ <3 ;<?:.9 5<:2 B@2 9./<? .;1
@56==6;4 0<@A@ 6;09B121 ,.??.;AF ?2=.6? @2?C602 :B@A /2 =2?3<?:21 /F
.; .BA5<?6G21 <@05 (2?C602 2;A2? 2E09B121 0<@:2A60 =.?A@
-2.? "6:6A21 ,.??.;AF
?<: .A2 <3 ;@A.99.A6<;
<@05 D699 =?<C612 ?2=9.02:2;A =.?A@ 3?22 <3 05.?42 3<? .;F 0<:=<;2;A
=.?A A5.A =?<C2@ 12320A6C2 B;12? 0<;16A6<;@ <3 ;<?:.9 5<:2 B@2 @56==6;4
0<@A@ 6;09B121 9./<? 05.?42@ 2E09B121
-2.? "6:6A21 ,.??.;AF <; 920A?<;60@
?<: .A2 <3 ;@A.99.A6<;
<@05 D699 ?2=.6? <? ?2=9.02 3?22 <3 05.?42 .;F :60?<=?<02@@<? <? =?6;A21
06?0B6A /<.?1 A5.A =?<C2@ 12320A6C2 B;12? 0<;16A6<;@ <3 ;<?:.9 5<:2 B@2
1B?6;4 A52 36?@A AD< F2.?@ 3?<: A52 1.A2 <3 <?646;.9 6;@A.99.A6<; 9./<?
05.?42@ 2E09B121
-2.? "6:6A21 ,.??.;AF <; #<A<?
?<: .A2 <3 ;@A.99.A6<;
<@05 D699 ?2=.6? <? ?2=9.02 3?22 <3 05.?42 .;F :<A<? <? 0<:=<;2;A =.?A
<3 A52 :<A<? A5.A =?<C2@ 12320A6C2 B;12? 0<;16A6<;@ <3 ;<?:.9 5<:2 B@2
1B?6;4 A52 36?@A AD< F2.?@ 3?<: A52 1.A2 <3 <?646;.9 6;@A.99.A6<; 9./<?
05.?42@ 2E09B121
.A2 <3 6;@A.99.A6<; @5.99 ?232? A< A52 2.?962? 1.A2 A52 09<A52@ D.@52? 6@ 6;@A.9921 <? A2; /B@6;2@@ 1.F@ .3A2? A52 1296C2?F 1.A2
H3<EC9?>C
+<=G K5FF5BHM 8C9G BCH 7CJ9F G9FJ=79
75@@G CF F9D5=FG HC 7CFF97H H<9 =BGH5@@5H=CB
C: H<9 7@CH<9G K5G<9F HC DFCJ=89
=BGHFI7H=CBG CB H<9 IG9 C: MCIF 7@CH<9G
K5G<9F HC F9D@579 <CIG9 :IG9G CF
7CFF97H D@IA6=B; CF H<9 9@97HF=7 K=F=B;
=BMCIF <CA9 CF HC F9D5=F 5BM 7@CH<9G
K5G<9F H<5H =G IG98 =B 5 A5BB9F CH<9F
H<5B K<5H =G BCFA5@ 5B8 7IGHCA5FM :CF
<CA9 IG9
B 588=H=CB H<9 K5FF5BH=9G DFCJ=898 =B
H<=G *H5H9A9BH 9L7@I89 5BM 89:97HG CF
85A5;9 5F=G=B; :FCA 577=89BH 5@H9Fs
5H=CB A=GIG9 56IG9 =ADFCD9F =BGH5@@5s
H=CB IB5IH<CF=N98 G9FJ=79 KCF? 9LH9Fs
B5@ :CF79G 69MCB8 CG7<G 7CBHFC@
GI7< 5G :=F9 :@CC8 5B8 CH<9F 57HG C:
C8 CF =BGH5@@5H=CB BCH =B 577CF85B79
K=H< @C75@ 9@97HF=75@ 5B8 D@IA6=B;
7C89G #56CF 7<5F;9G =B7IFF98 =B H<9
F9D5=F CF F9D@579A9BH C: 5BM 7@CH<9G
K5G<9F 5:H9F 5 D9F=C8 C: CB9 M95F :FCA
85H9 C: =BGH5@@5H=CB G<5@@ BCH 69 7CJ9F98
6M H<=G K5FF5BHM
BM 5B8 5@@ F9D@5798 5B8CF F9D5=F98
D5FHG G<5@@ 5GGIA9 H<9 =89BH=HM C: H<9
CF=;=B5@ :CF DIFDCG9G C: H<9 5DD@=756@9
K5FF5BHM D9F=C8
+& + /+%+ ')$ ++ 0 #.
+ *.))%+0 * % # , & ##
&+) /')** % $'# 
.))%+ * %#, % +
$'#  .))%+ * &
$)%+ # +0 %  +%**
&) ')+ ,#) ',)'&*
&* &* %&+ **,$ %0
)*'&%*  # +0 &) % %+#
&) &%*(,%+ # $*
+& &+ % .))%+0 *)- 
&%++ + %)*+ &*
,+&) 1 *)-  %+) &)
## sss &) .) + +&
* &$ ''# %*
++% *)- 
 $ % -
,%+ %+&%   
 *,) +& ')&-  0&,)
#&+* .*) $&# %,$s
) *) # %,$) ',)*
+ + *##)* %$ %
)** + ')&#$ &s
,)) /'#%+ &% & ')&s
#$ 0+ $ +#'&% %,$s
) .) 0&, %  )
% &'0 & + *#* %s
-& 
background

9C@?C9D96C 5D 1F1>D175C 45 F?DB5 >?EF51E <1F1<9>75
*538>?<?795 )$)%+)&% 
#5 H97<BC@C;=9 CG7< )$)%+)&% 
CDH=A=G9 @9
DFC79GGIG 89 @5J5;9 b HCIG @9G GH589G 8I 7M7@9 9H 797= 5I
ACM9B 89 GCB89G 8gH97H5BH @5 7<5F;9 89 @=B;9 @9 B=J95I
895I 9H @5 H9ADgF5HIF9 9H 8CBB9 89L79@@9BHG FgGI@H5HG #9G
GCB89G BIAgF=EI9G DFCHf;9BH HCIG @9G H9LH=@9G @5 @5=B9 @9
AC<5=F 9H @5 GC=9 9HH9 A57<=B9 :CB7H=CBB9 89 :57HC D5F
G=AD@9 9::@9IF9A9BH 8IB 6CIHCB
)ICDY=5 5H3<EC96 45 381B>9YB5 :?9>D
,B9 7<5FB=fF9 F9B:CF7g9 9H IB >C=BH BCIJ95I
FgJC@IH=CBB5=F9 A5=BH=9BB9BH @9 <I6@CH 6=9B :9FAg @G
F9H=9BB9BH 5IGG= @5 7<5@9IF DF=GCBB=fF9 9H D9FA9HH9BH b JCHF9
@=B;9 85HH9=B8F9 IB9 H9ADgF5HIF9 CDH=A5@9 8g@=A=B9F @9G
G5@=GGIF9G AhA9 @9G D@IG F969@@9G
13 V @B?4E9D <5CC9F95< V 3?=@1BD9=5>DC
,B 657 b DFC8I=H @9GG=J=9@ b 7CAD5FH=A9BHG 8=GHF=6I9
5IHCA5H=EI9A9BH @9G EI5BH=HgG 5DDFCDF=g9G 89 8gH9F;9BH
89 DFC8I=H 6@5B7<=GG5BH 9H 89 DFC8I=H 58CI7=GG5BH
9L57H9A9BH 5IL 6CBG ACA9BHG 9 657 =BH9F5;=H 5J97 BCHF9
GCB89 8gH97HF=79 89 ACIGG9 IB=EI9 9B GCB ;9BF9 DCIF
5GGIF9F EI9 JCHF9 @=B;9 GC=H F=B7g >IGEIb C6H9BH=CB 8IB9
DFCDF9Hg D5F:5=H9
M7@9 !))t
9 GCBH <56=HI9@@9A9BH @9G D@IG >9IB9G C77ID5BHG 89 @5
A5=GCB EI= GCBH b @CF=;=B9 89G H57<9G @9G D@IG H9B579G 9
7M7@9 DCFH9 @95I >IGEIb S DCIF 9B@9J9F :57=@9A9BH @9G
Hd7<9G AhA9 @9G D@IG F969@@9G
&1<5C 45 2B1CC175
+5B8=G EI9 JCHF9 @=B;9 9GH 6F5GGg 9B 8CI79IF @9G 5I69G :CBH
HCA69F 89 @95I 9B 75G7589 89DI=G IB9 <5IH9IF =ADCFH5BH9
gJ57I5BH 5=BG= @5 ACIGG9 9H 7CB:gF5BH b @9BG9A6@9 8I @=B;9
IB9 DFCDF9Hg IB=:CFA9 ,B H5A6CIF =B7@=Bg =BH9F5;=H 5J97 @9G
D5@9G DCIF 5GGIF9F EI9 D5G IB9 7<9A=G9 Bg7<5DD9 5I
A5@5L5;9
*1=2?EBC 5> 1395B 9>?HI412<5
#9 H5A6CIF 8I @5J9@=B;9 %9HHDt DFgG9BH9 89G 79BH5=B9G
89 HFCIG 8CI6@9 D9F:CF5H=CB b6CF8G 5FFCB8=G D9FA9HH5BH b
JCG JhH9A9BH 8hHF9 A5@5LgG 9B 8CI79IF G5BG F=GEI9 89
G577FC7<9F
81E66551E 9>D5B>5
,B9 FgG=GH5B79 7<5I::5BH9 =BH9FB9 DCFH9 @95I b °
H5B8=G EIIB9 GCB89 H<9FACAgHF=EI9 BIAgF=EI9 GIFJ9=@@9
9B D9FA5B9B79 @5 H9ADgF5HIF9 #9G @5J9@=B;9 CG7<
%9LLH
C::F9BH @5 AgH<C89 89 7<5I::5;9 @5 D@IG 9::=7579 9H @5
D@IG DFg7=G9 DCIF 7<5EI9 HMD9 89 H9LH=@9 Gg@97H=CBBg
Fonctionnement silencieux
#9G @5J9@=B;9 CG7< :CBH 5DD9@ b 89G ACH9IFG G5BG 65@5=G
b 89G GMGHfA9G 89 DCAD5;9 GIGD9B8IG 9H b 89G A5HgF=5IL
=BGCBCF=G5BHG DCIF EI=@G 8g;5;9BH 9LHFhA9A9BH D9I 89
6FI=H D9B85BH @9IF :CB7H=CBB9A9BH 97= G=;B=:=9 EI=@ 9GH
DCGG=6@9 89 @9G =BGH5@@9F 89 :57HC B=ADCFH9 Cn85BG @5
A5=GCB G5BG EI=@G B9 ;hB9BH D9FGCBB9
+97<BC@C;=9 )/$(%t
gF9N JCG H9ADG 89 :CB7H=CBB9A9BH 8I @5J9@=B;9 9H 8I
Gf7<9@=B;9 5J97 @9 GMGHfA9 89LD@C=H5H=CB H97<BC@C;=EI9
)/$)&t #9G Gf7<9@=B;9 %9HHD 7CCF8CBB9BH @9IF
57H=CB 5J97 @5 J=H9GG9 89GGCF5;9 8I @5J9@=B;9 G9@CB @9G
H9LH=@9G GIF @9GEI9@G =@ 5 gHg Fg;@g 9HG9@CB @5 H9ADgF5HIF9 89
@5J5;9 Fd79 b79HH9 H97<BC@C;=9 D@IG 8577IAI@5H=CB
89@=B;9 @5Jg 9B 5HH9BH9 EI9 @9 Gf7<9@=B;9 :=B=GG9 GCB 7M7@9
background

*12<5 45C =1D9YB5C
Z69>9D9?>C 
$)*(+*%$)  )P+(*P #&%(*$*) 
%*+),+ &%*  $ * # +)) 
$)*(+*%$) $)*""*%$ 
BHFC8I7H=CB 
B:CFA5H=CBG GIF @5A=G9 5I F96IH 
'FCH97H=CB 89 @9BJ=FCBB9A9BH (I9GH=CBG 8g7C@C;=9 
CB:CFA=Hg 8IH=@=G5H=CB 
EI=D9A9BH :CIFB= 8CF=;=B9 
=A9BG=CBG 
#=9I 8=BGH5@@5H=CB 
B@fJ9A9BH 89G 6CI@CBG G9FJ5BH 89 75@9G 89 HF5BGDCFH 
#CB;I9IFG 89G HIM5IL 9H 89G 7CF8CBG 
F5B7<9A9BH 89 @95I 
F5B7<9A9BH g@97HF=EI9 
>IGH5;9 <CF=NCBH5@ 
+F5BGDCFH D5F 9L 9B 75G 89 8gAgB5;9A9BH 
$)*(+*%$) +*")*%$ 
'FgG9BH5H=CB 89 JCHF9 BCIJ95I @5J9s@=B;9 
#9 65B895I 89 7CAA5B89 
)gGIAg 89G =BGHFI7H=CBG 
F1>D 4ED9<9C5B <1@@1B59< @?EB <1 @B5=9YB5 6?9C 
+D9<9C1D9?> @?EB <1 @B5=9YB5 6?9C 
'F9A=9F 7M7@9 89 @5J5;9 G5BG @=B;9 
'FgD5F5H=CB 8I @=B;9 
+F= 8I @=B;9 
9;FgG 89 G5@=GGIF9G 
<5F;9A9BH 8I @=B;9 
&B?4E9DC <5CC9F95<C 5D1449D96C 45 <1F175 4E <9>75 
-9FG9F @5 6CBB9 EI5BH=Hg 89 DFC8I=H 
)9AD@=F @9G 7CAD5FH=A9BHG b DFC8I=HG @9GG=J=9@G 9HCI b 588=H=:G 
g7C@CF5H=CB 
&B?7B1==5C 5D 6?>3D9?>C 
'FC;F5AA9G 89 65G9 
'FC;F5AA9G GDg7=5IL 
$C8=:=75H=CBG 89G Fg;@5;9G 
CIHCBG 89G CDH=CBG 
*=;B5@ GCBCF9 
-CM5BH =B8=75H9IF 5Is89GGIG 8I 6CIHCB Q*H5FH'5IG9T 
CB7H=CBG GDg7=5@9G 
"1F175 
&5>41>D <5<1F175 
%CIJ9@@9 Gg@97H=CB 8IB DFC;F5AA9 
)5>CIH 89 @=B;9 BH9FFIDH=CB 8I DFC;F5AA9 
BBI@5H=CB 8IB DFC;F5AA9 9B 7CIFG 
@BYC <5<1F175 
$5DD?I175 5D5>DB5D95> 
%9HHCM5;9 8I @5J9s@=B;9 
gH5FHF5;9 8I @5J9s@=B;9 
(5=Z495B C?9b=[=5 1EH @5D9D5C @1>>5C 
)5BF935 @BYCb,5>D5 ), 
$%$  ($* "$#* ) &(%+*) 
"(*%$ ) ($*) ",b"$ %) 
L7@IG=CBG 89 ;5F5BH=9 
*12<51E 45 CZ<53D9?> 45C @B?7B1==5C 
background

#9 BCIJ95I @5J9s@=B;9 EI9 JCIG J9B9N
857<9H9F 9GH IB 5DD5F9=@ 8CA9GH=EI9
AC89FB9 9H 89 <5IH9 EI5@=Hg
9HH9 A57<=B9 AC89FB9 @5J9 JCHF9
@=B;9 9B :5=G5BH 5DD9@ 5IL DFC79GGIG 89
@5J5;9 @9G D@IG GCD<=GH=EIgG 5:=B
8C6H9B=F 89G FgGI@H5HG 89 @5J5;9 <CFG
D5=F
,B9 =B;gB=9F=9 9H IB9 :=56=@=Hg
9L79@@9BH9G Fg8I=G9BH 89 :5eCB
G=;B=:=75H=J9 @9G 7CpHG 89
:CB7H=CBB9A9BH
,B9 D<=@CGCD<=9 8IH=@=G5H=CB :57=@9 HCIH
IB 9BG9A6@9 89 DFC;F5AA9G 89
@5J5;9 D9FGCBB5@=GgG IB F9HCIF
<5DH=EI9 5;Fg56@9 9H :5=G5BH G9BH=F @5
GC@=8=Hg 8I DFC8I=H :CBH 89 @I= IB
c5GG=GH5BH DF5H=EI9 85BG JCHF9 :CM9F
9H 5DD5F9=@ C::F9 @9G 75F57HgF=GH=EI9G
GH5B85F8 GI=J5BH9G
%=J95I 89 6FI=H Fg8I=H 5I @5J5;9 9H
b @9GGCF5;9
I6@CH g@9Jg 5J97 J9FFCI=@@5;9
DI@@s@C7? J9FFCI=@@5;9 A5;BgH=EI9
8I <I6@CH
&IJ9FHIF9 89 DCFH9  DCI79G
7A 7<5FB=fF9 FC6IGH9 9H 89
EI5@=Hg 5B;@9 8CIJ9FHIF9 R
5D57=Hg 8I H5A6CIF  @6G 
?; DCIF @9 7CHCB BCFA5@
<5EI9 @5J9s@=B;9 EI=HH5BH BCHF9 IG=B9
5 GI6= IB H9GH DCIGGg 89 D9F:CFA5B79G
9H G9 HFCIJ9 9B D5F:5=H gH5H 89 A5F7<9
#5DD5F9=@ D9IH 7CBH9B=F 89 @95I
FgG=8I9@@9 DFCJ9B5BH 89G DFC7g8IF9G
89GG5= *= JCIG GCI<5=H9N DCG9F 89G
EI9GH=CBG GIF @=BGH5@@5H=CB 8I
@5J9s@=B;9 BCHF9 G9FJ=79 5DFfGsJ9BH9
*- G9 :9F5 IB D@5=G=F 89 JCIG
7CBG9=@@9F
-CIG HFCIJ9F9N 85IHF9G =B:CFA5H=CBG 9H
HCIH IB 7<C=L 89 BCG DFC8I=HG GIF @9 G=H9
.96 GI=J5BH
KKK6CG7<5DD@=5B79G7CA
-9I=@@9N @=F9 9H F9GD97H9F @5 DFgG9BH9
BCH=79 8IH=@=G5H=CB 9H 8=BGH5@@5H=CB 5=BG=
EI9 HCIH9G @9G =B:CFA5H=CBG
577CAD5;B5BH @9 @5J9s@=B;9
#5 DFgG9BH9 BCH=79 8IH=@=G5H=CB 9H
8=BGH5@@5H=CB 8g7F=H D@IG=9IFG AC8f@9G
#9G 8=::gF9B79G gJ9BHI9@@9G GCBH
=B8=EIg9G b@9B8FC=H 5DDFCDF=g
#9G =@@IGHF5H=CBG D9IJ9BH 7CBH9B=F 89G
8gH5=@G B9 :=;IF5BH D5G GIF JCHF9
@5J9s@=B;9
Z69>9D9?>C
d
,(*))
#$*
d
F5BD9CC5=5>D 9 GMA6C@9
JCIG DFgJ=9BH 8IB 85B;9F 89
ACFH CI 8IB F=GEI9 89 6@9GGIF9G
;F5J9G G= JCIG B9 F9GD97H9N D5G
@5J9FH=GG9A9BH EI=
@577CAD5;B9
d
&(+$
&BE45>35 9 GMA6C@9 JCIG
DFgJ=9BH 8IB F=GEI9 89 6@9GGIF9G
G= JCIG B9 F9GD97H9N D5G
@5J9FH=GG9A9BH EI=
@577CAD5;B9
&(+$
&BE45>35 9 GMA6C@9 JCIG
DFgJ=9BH 8IB F=GEI9 89 8g;dHG
A5HgF=9@G G= JCIG B9 F9GD97H9N
D5G @5J9FH=GG9A9BH EI=
@577CAD5;B9
i
9 GMA6C@9 9GH 89GH=Bg b 5HH=F9F
JCHF9 5HH9BH=CB GIF EI9@EI9 7<CG9
89 D5FH=7I@=9F
d $)*(+*%$)  )P+(*P #&%(*$*)
d
,(*))b
#$*
d
'CIF Fg8I=F9 @9 F=GEI9 8=B79B8=9 89
7<C7 g@97HF=EI9 DCIF g75FH9F HCIH
F=GEI9 89 6@9GGIF9G ;F5J9G CI HCIH
85B;9F 89 ACFH D9B85BH @IH=@=G5H=CB
8I @5J9s@=B;9 J9I=@@9N DF9B8F9 89G
DFg75IH=CBG :CB85A9BH5@9G
7CADF9B5BH 79@@9G 8g7F=H9G
7=s5DFfG
 #9G @5J9s@=B;9 &* GCBH @=JFgG
5J97 IB9 BCH=79 7CBH9B5BH 89G
=BGHFI7H=CBG 8IH=@=G5H=CB
89BHF9H=9B 9H 8=BGH5@@5H=CB
-9I=@@9N @=F9 9H 5GG=A=@9F
5HH9BH=J9A9BH 9H =BHg;F5@9A9BH 79G
=BGHFI7H=CBG 5J5BH 8IH=@=G9F @9
@5J9s@=B;9
 %9 @5J9N >5A5=G 85BG 79 @5J9s@=B;9
8I @=B;9 DFg5@56@9A9BH B9HHCMg
@5Jg HF9ADg CI H57<g 5J97 89
@9GG9B79 89G GC@J5BHG 89
8g;F5=GG5;9 b G97 CI 5J97
85IHF9G GI6GH5B79G
=B:@5AA56@9G 9LD@CG=J9G 75F HCIG
D9IJ9BH 8g;5;9F 89G J5D9IFG
GIG79DH=6@9G 89 G9B:@5AA9F CI
89LD@CG9F
 @95I 89 @5J5;9 B5>CIH9N D5G
89GG9B79 89 GC@J5BHG 89
8g;F5=GG5;9 b G97 B= HCIH 5IHF9
GI6GH5B79 =B:@5AA56@9 CI
9LD@CG=J9 9 79G GI6GH5B79G G9
8g;5;9BH 89G J5D9IFG
GIG79DH=6@9G 89 G9B:@5AA9F CI
89LD@CG9F
 5BG 79FH5=B9G 7CB8=H=CBG 89
@<M8FC;fB9 D9IH G9 8g;5;9F 8IB
GMGHfA9 b 95I 7<5I89 EI= B5 D5G
G9FJ= D9B85BH EI=BN9 >CIFG CI D@IG
# 1 0)&% *+
/'#&*  *= @9 7=F7I=H 895I
7<5I89 B5 D5G G9FJ= D9B85BH IB9
H9@@9 DgF=C89 CIJF9N HCIG @9G
FC6=B9HG 895I 7<5I89 9H @5=GG9N
@95I 7CI@9F D@IG=9IFG A=BIH9G 89
7<57IB 5J5BH 8IH=@=G9F @9
@5J9s@=B;9 97= gJ57I9F5 HCIH
@<M8FC;fB9 EI= DCIFF5=H GhHF9
577IAI@g 9 ;5N gH5BH
=B:@5AA56@9 B9 :IA9N D5G 9H
BIH=@=G9N D5G 89 :@5AA9 BI9
D9B85BH 79HH9 CDgF5H=CB
 J5BH 89 F9H=F9F @5DD5F9=@ 8I
G9FJ=79 CI 89 @9 A9HHF9 5I F96IH
9B@9J9N GCB <I6@CH 9H 7CID9N GCB
7CF8CB 85@=A9BH5H=CB G5 :=7<9
Ad@9
 %=BHFC8I=G9N D5G @9G A5=BG 85BG
@5DD5F9=@ D9B85BH EI9 @9 H5A6CIF
89 @5J5;9 HCIFB9
 %=BGH5@@9N B= B9 GHC7?9N D5G
@5DD5F9=@ 85BG IB 9B8FC=H 9LDCGg
5IL =BH9ADgF=9G
 %9 7<9F7<9N D5G b AC8=:=9F @9G
7CAA5B89G 89 @5DD5F9=@
 %9 FgD5F9N 9H B9 F9AD@579N D5G
HCIH9 D=f79 89 @5DD5F9=@ 9H
56GH9B9NsJCIG 89 HCIH9
A5B=DI@5H=CB 5IHF9 EI9 79@@9G
background

GDg7=:=EI9A9BH F97CAA5B8g9G
85BG @5 BCH=79 89BHF9H=9B D5F
@IH=@=G5H9IF CI DI6@=g9G 85BG IB9
BCH=79 89 FgD5F5H=CBG D5F
@IH=@=G5H9IF 8CBH JCIG 7CADF9B9N
@9 7CBH9BI 9H DCIF @9GEI9@@9G JCIG
8gH9B9N @9G 7CBB5=GG5B79G 9H
@<56=@9Hg JCI@I9G
 -9=@@9N HCI>CIFG b 8g6F5B7<9F @9
@5J9s@=B;9 89 @5 DF=G9 89 7CIF5BH
5J5BH 89::97HI9F HCIH9 CDgF5H=CB
GIF @5DD5F9=@ 'CIF @9 8g6F5B7<9F
G5=G=GG9N HCI>CIFG G5 :=7<9 Ad@9
>5A5=G GCB 7CF8CB 85@=A9BH5H=CB
 'CIF Fg8I=F9 @9G F=GEI9G
8=B79B8=9 JCIG 89J9N g75FH9F 89
HCIH9 GCIF79 8=B:@5AA5H=CB
Gg7<C=FG 7CADF=G @9G JhH9A9BHG
7<=::CBG 89 B9HHCM5;9 HhH9G 89
65@5=G b :F5B;9 9H C6>9HG G=A=@5=F9G
EI= CBH gHg H57<gG D5F 89G
GI6GH5B79G =B:@5AA56@9G 9BHF9
5IHF9G 89 @<I=@9 Jg;gH5@9 89 @<I=@9
89 7I=G=B9 89G <I=@9G 9H 8=GH=@@5HG b
65G9 89 DgHFC@9 89G 7=F9G 9H 89G
;F5=GG9G 9G C6>9HG F=GEI9BH 9B
9::9H 89 7CBH9B=F IB9 CI D@IG=9IFG
GI6GH5B79G =B:@5AA56@9G EI=
5DFfG @9 @5J5;9 8I @=B;9 DCIFF5=9BH
G9 A9HHF9 b :IA9F 9H DF9B8F9 :9I
HCIH9G G9I@9G
 %9 @5J9N D5G 5J97 79 @5J9s@=B;9
89 A5HgF=5IL F9B:CF7gG 89 :=6F9 89
J9FF9 89BCA6F9IL F=895IL 9H
D5F9A9BHG DCIF :9BhHF9G
7CBH=9BB9BH 89G A5HgF=5IL b 65G9
89 :=6F9 89 J9FF9 9D9H=H9G
D5FH=7I@9G DCIFF5=9BH F9GH9F 85BG @9
@5J9s@=B;9 9H G5;F=DD9F 5I @=B;9
@CFG 89G Gg5B79G 89 @5J5;9
GI=J5BH9G 9HDFCJCEI9F 5=BG= 89G
=FF=H5H=CBG 7IH5Bg9G
 #CFGEI9 @9G 9B:5BHG 5FF=J9BH b @d;9
89 :5=F9 A5F7<9F @5DD5F9=@ @9IFG
D5F9BHG CI HIH9IFG @g;5IL CBH @5
F9GDCBG56=@=Hg 89 J9=@@9F b 79 EI9
89G D9FGCBB9G EI5@=:=g9G @9IF
9BG9=;B9BH 89G AgH<C89G
8IH=@=G5H=CB GpF9G
 9H 5DD5F9=@ B9GH D5G IB >CI9H %9
D9FA9HH9N >5A5=G 5IL 9B:5BHG 89
>CI9F 89GGIG CI 8985BG *IFJ9=@@9N
@9G 9B:5BHG 89 DFfG @CFGEI9
@5DD5F9=@ :CB7H=CBB9 b @9IF
DFCL=A=Hg
 @C=;B9N @9G 5B=A5IL 8CA9GH=EI9G
8I @5J9s@=B;9
 %9 H9BH9N >5A5=G 89 6F5B7<9F
8g6F5B7<9F @5 :=7<9 Ad@9 89
@5DD5F9=@ 5J97 @9G A5=BG
ACI=@@g9G
 %9 HCI7<9N D5G @9 <I6@CH 89
7<5F;9A9BH D9B85BH @9 @5J5;9 b
<5IH9 H9ADgF5HIF9 -CIG
F=GEI9F=9N 89 JCIG 6Fp@9F
 'FI89B79 @CFGEI9 JCIG J=85B;9N
89 @95I 7<5I89
 %9 ACBH9N D5G GIF @9 @5J9s@=B;9 9H
B9 JCIG 5DDIM9N D5G GIF @9 <I6@CH
CIJ9FH
 %9 JCIG 5GG9M9N D5G GIF @5
@5J9s@=B;9
 'CIF Fg8I=F9 @9 F=GEI9 89 7<C7
g@97HF=EI9 %,+ # *1 '* 89
DFC@CB;5H9IF B= 89 AI@H=DF=G9G DCIF
F577CF89F @9 @5J9s@=B;9 5I G97H9IF
8CA9GH=EI9
 %IH=@=G9N @9 @5J9s@=B;9 EI5IL :=BG
DCIF @9GEI9@@9G =@ 5 gHg 7CBeI
 )9GD97H9N HCI>CIFG @9G 7CBG=;B9G
89BHF9H=9B 89G H9LH=@9G :CIFB=9G D5F
@9G :56F=75BHG 8I @=B;9
 %IH=@=G9N D5G @9 @5J9s@=B;9 G= GCB
7d6@9 85@=A9BH5H=CB 9GH IGg CI G=
G5 DF=G9 g@97HF=EI9 DFgG9BH9 IB
:5IL 7CBH57H 5BG 79 75G DF9B9N
7CBH57H 5J97 IB 5;9BH 89BHF9H=9B
5;Fgg
 GGIF9NsJCIG EI9 HCIG @9G
6F5B7<9A9BHG 895I GIF @9
@5J9s@=B;9 7CADCFH9BH IB CI
D@IG=9IFG FC6=B9HG 89 :9FA9HIF9 9H
EI=@G GCBH :57=@9A9BH 5779GG=6@9G
)9:9FA9N @9G FC6=B9HG 8I
@5J9s@=B;9 b @5 :=B 89 7<5EI9
>CIFBg9 89 @5J5;9
 -gF=:=9N Fg;I@=fF9A9BH @9G >CB7H=CBG
8I HIM5I :@9L=6@9 89 F9AD@=GG5;9
GGIF9NsJCIG EI9@@9G GCBH 6=9B
G9FFg9G 9H EI9@@9G B9 :I=9BH D5G
 #=G9N 9H F9GD97H9N HCI>CIFG @9G
=BGHFI7H=CBG 8I :56F=75BH 8I89G
DFC8I=HG @9GG=J=9@G 5IL=@=5=F9G 89
B9HHCM5;9 DFC8I=HG
58CI7=GG9IFG 9H 89G DFC8I=HG
g@=A=B5H9IFG 8g@97HF=7=Hg GH5H=EI9
)9GD97H9N HCIG @9G 5J9FH=GG9A9BHG
9H DF9B9N @9G DFg75IH=CBG
89A5B8g9G
 )5B;9N HCIG @9G DFC8I=HG 7<=A=s
EI9G DCIF @9 @=B;9 9H @9G DFC8I=HG
5IL=@=5=F9G 85BG IB 9B8FC=H :F5=G 9H
G97 7CB:CFAgA9BH 5IL =BGHFI7s
H=CBG 89 @9IFG :56F=75BHG
 'CIF Fg8I=F9 @9 F=GEI9
89ADC=GCBB9A9BH CI 89 6Fp@IF9G
7<=A=EI9G F5B;9N HCIG @9G
DFC8I=HG 89 B9HHCM5;9 <CFG 89
DCFHg9 89G 9B:5BHG
 %9 :5=H9G >5A5=G A5F7<9F @9
@5J9s@=B;9 G= JCIG 5J9N 8g:5=H @IB
89 G9G 8=GDCG=H=:G 89 DFCH97H=CB
9HCI D5BB95IL 89 75DCH5;9
9L79DH=CB @9G 6CI@CBG G9FJ5BH 89
75@9G 89 HF5BGDCFH 8C=J9BH 5JC=F gHg
9B@9JgG
 %IH=@=G9N >5A5=G @9 @5J9s@=B;9 G=@ @I=
A5BEI9 89G D=f79G CI G= 79FH5=B9G
GCBH 75GGg9G
 %9 H9BH9N D5G 89 F9B8F9 @9G
8=GDCG=H=:G 89 Gg7IF=Hg =BCDgF5BHG
 'CIF gJ=H9F 89B8CAA5;9F @9 GC@ 9H
@5 DFC@=:gF5H=CB 89 AC=G=GGIF9G
9GGIM9N =AAg8=5H9A9BH @95I EI=
G9GH FgD5B8I9 5IHCIF CI GCIG
@5DD5F9=@ 5=BG= EI9 @9G :@5EI9G
895I
 6GH9B9NsJCIG 89 :5=F9 A5F7<9F 79
@5J9s@=B;9 H5BH EI9 JCIG BhH9G D5G
GpF9
5 G= @9 @5J9s@=B;9 5 gHg =BGH5@@g
7CB:CFAgA9BH 5IL
%*+),+ &%*
 %*+##+ &%
6 EI9 HCIH9G @9G :CFA9G 89
F577CF89A9BH b @95I b
@g;CIH b @g@97HF=7=Hg 9H b @5
H9FF9 G9 7CB:CFA9BH 6=9B b @5
Fg;@9A9BH5H=CB @C75@9 9HCI b
85IHF9G DF9G7F=DH=CBG 9H
9L=;9B79G
 #=BGH5@@5H=CB @9BHF9H=9B 9HCI
@IH=@=G5H=CB 8I @5J9s@=B;9 G5BG
F9GD97H9F @9G =BGHFI7H=CBG DI6@=g9G
D5F @9 :56F=75BH D9IJ9BH 7Fg9F 89G
7CB8=H=CBG ;gBgF5HF=79G 89
6@9GGIF9G 7CFDCF9@@9G 9HCI 89
8CAA5;9 DCIF @9G 6=9BG
=AAC6=@=9FG 9BJ=FCBB5BHG
 #9 :5=H 89B@9J9F HCIH D5BB95I M
7CADF=G @9 D5BB95I 89 G9FJ=79
7=F7I@5=F9 b @5J5BH JCIG 9LDCG9 b
IB F=GEI9 89BHF9F 9B 7CBH57H 5J97
89G 5FhH9G CI DC=BH9G 7CID5BH9G
89G 7CBB9L=CBG g@97HF=EI9G 9H 89G
GIF:579G HFfG 7<5I89G
 'CIF gJ=H9F 89B8CAA5;9F @9
<I6@CH B9L9F79N D5G 89 DCIGGg9
7CBHF9 @I= @CFGEI9 JCIG 8gD@579N
@5DD5F9=@ 'F9B9N 89G DFg75IH=CBG
DCIF B9 D5G 9B8CAA5;9F @9
D@5B7<5F
background

 F5B7<9N 9H H9GH9N @9 6F5B7<9A9BH
89 @95I 5J5BH 89 A9HHF9 @5
A5<7=B9 GCIG H9BG=CB
(5=1BAE5C
 #9G $ ** % ) 9H -s
)+ **$%+* $'&)s
+%+* :=;IF5BH 85BG @9 DFgs
G9BH A5BI9@ B9 G5IF5=9BH
9BJ=G5;9F HCIH9G @9G G=HI5H=CBG
DCGG=6@9G 9H =A5;=B56@9G
5=H9G DF9IJ9 89 6CB G9BG 89
DFI89B79 9H 89 GC=B D9B85BH
@=BGH5@@5H=CB @9BHF9H=9B 9H @IH=s
@=G5H=CB 89 79 @5J9s@=B;9
 CBH57H9N HCI>CIFG JCHF9
F9J9B89IF 8=GHF=6IH9IF 5;9BH
8I G9FJ=79 5DFfGsJ9BH9 *-
CI @9 :56F=75BH 9B DFgG9B79 89
DFC6@fA9G CI G=HI5H=CBG JCIG
D5F5=GG5BH
=B7CADFg<9BG=6@9G
$)*(+*%$)  #)
" *((
@ :5IH F9@=9F 79H 5DD5F9=@ b @5 H9FF9
B75G 89 8MG:CB7H=CBB9A9BH CI 89
D5BB9 G5 @=5=GCB 5J97 @5 H9FF9 Fg8I=F5 @9
F=GEI9 89 7<C7 g@97HF=EI9 9B
:CIFB=GG5BH 5I 7CIF5BH g@97HF=EI9 IB
7<9A=B 89 D5GG5;9 b FgG=GH5B79
g@97HF=EI9 HFfG Fg8I=H9 9H 5DD5F9=@ 9GH
gEI=Dg 8IB 7CF8CB 85@=A9BH5H=CB
5J97 :=@ =BHg;Fg 89 F577CF89A9BH 89
@5DD5F9=@ b @5 H9FF9 9H 8IB9 :=7<9 89
F577CF89A9BH b @5 H9FF9 @ :5I8F5
6F5B7<9F @5 :=7<9 85BG IB9 DF=G9
:9A9@@9 5DDFCDF=g9 F9@=g9 b @5 H9FF9
7CB:CFAgA9BH b @5 Fg;@9A9BH5H=CB 9H
5IL 8g7F9HG @C75IL
d
,(*))b
#$*
d
#9 6F5B7<9A9BH =B9LD9FH 8I :=@
7<5F;g 89 F577CF89F @5DD5F9=@ b @5
H9FF9 D9IH 9B;9B8F9F IB F=GEI9 89
7<C7 g@97HF=EI9
CBB97H9Ns@9 b IB 7=F7I=H =B8=J=8I9@
89 8gF=J5H=CB
J97 @5=89 8IB g@97HF=7=9B 5;Fgg CI
8IB H97<B=7=9B 8I *- JgF=:=9N 9B
75G 89 8CIH9 EI9 @9 @5J9s@=B;9 9GH
6=9B F577CF8g b @5 H9FF9
% $&  1 '* #   $Z#
577CAD5;B5BH @5DD5F9=@ *= 9@@9 B9
F9BHF9 D5G 85BG @5 DF=G9 89A5B89N
b IB g@97HF=7=9B 5;Fgg 89 JCIG
=BGH5@@9F IB9 DF=G9 :9A9@@9
5DDFCDF=g9
%$)(,0 **
$%* $ 
&%+,%( "
%$)+"*( N$%+,+
+"*P(+(#$*
*= @5DD5F9=@ 8C=H IB >CIF 7<5B;9F 89
DFCDF=gH5=F9 F9A9HH9Ns@I= @9 A5BI9@ 9B
AhA9 H9ADG EI9 @9 @5J9s@=B;9
%$)(,0
** $%*
background

$)*(+*%$) $)*""*%$
>DB?4E3D9?>
d
&(+$
'&, - +)
)=GEI9 89 6@9GGIF9G
9 @5J9s@=B;9 9GH @CIF8 *CI@9J9Ns@9
5J97 DFI89B79
-9=@@9N 6=9B b C6G9FJ9F HCIG @9G
5J9FH=GG9A9BHG 9H A=G9G 9B ;5F89
gBCB7gG 7=s89GGCIG
&(+$
#9G HIM5IL :@9L=6@9G ;9@gG D9IJ9BH G9
8g7<=F9F g7@5H9F %=BGH5@@9N D5G 79
@5J9s@=B;9 9B D@9=B 5=F CI 85BG IB
9B8FC=H 9LDCGg 5I ;9@
#9G DFgG9BH9G =BGHFI7H=CBG 8IH=@=G5H=CB
GCBH 89GH=Bg9G b 89G =BGH5@@5H9IFG
EI5@=:=gG &IHF9 79G =BGHFI7H=CBG 9H
@CFGEI9 JCIG =BGH5@@9N @9 @5J9s@=B;9
IL H5HGs,B=G 7CB:CFA9NsJCIG
5I %5H=CB5@ @97HF=7 C89
%* %' 9B GCB g8=H=CB @5
D@IG Fg79BH9 9B 7CB:CFA=Hg 5J97
@5 Fg;@9A9BH5H=CB g8=7Hg9 D5F @H5H
89 FgG=89B79 @5 Fg;@9A9BH5H=CB
AIB=7=D5@9 9HCI @C75@9
I 5B585 9B 7CB:CFA=Hg 5J97 @9
C89 @97HF=EI9 5B58=9B 
9B GCB g8=H=CB @5 D@IG Fg79BH9
9B 7CB:CFA=Hg 5J97 @5
Fg;@9A9BH5H=CB g8=7Hg9 D5F @5
DFCJ=B79 89 FgG=89B79 @5
Fg;@9A9BH5H=CB AIB=7=D5@9 9HCI
@C75@9
*= @9 @5J9s@=B;9 8C=H hHF9 =BGH5@@g 85BG
IB9 D=f79 9LDCGg9 5I ;9@ CI 85BG IB9
FgG=89B79 G97CB85=F9 :9FAg9 D9B85BH
@<=J9F JCIG 45FB5J J=85B;9F HCIH9
@95I DFgG9BH9 85BG @5 DCAD9 9H 85BG
@9G :@9L=6@9G 85FF=Jg9 895I
-9=@@9N b B9 D5G 9B8CAA5;9F @9
@5J9s@=B;9
#CFGEI9 JCIG @9 GCI@9J9N B9 @9
G5=G=GG9N D5G D5F G9G D5FH=9G G5=@@5BH9G
@9 <I6@CH D5F 9L
&IHF9 @9G =BGHFI7H=CBG 89 Gg7IF=Hg
gBCB7g9G =7= JCIG 89JF9N F9GD97H9F @9G
DF9G7F=DH=CBG GDg7=5@9G g8=7Hg9G D5F
JCG 7CAD5;B=9G @C75@9G 89 8=GHF=6IH=CB
895I 9H 8g@97HF=7=Hg
B 75G 89 8CIH9 7CB:=9N @9
F577CF89A9BH b IB H97<B=7=9B 5;Fgg
>6?B=1D9?>C CEB <1=9C5
1E B52ED
#9C5 1E B52ED 45 <5=21<<175
#9A65@@5;9 89LDg8=H=CB DFCHf;9 JCHF9
BCIJ9@ 5DD5F9=@ D9B85BH GCB HF5BGDCFH
>IGEI9 7<9N JCIG +CIG @9G A5HgF=5IL
7CADCG5BH @9A65@@5;9 GCBH
g7C@C;=EI9G 9H F97M7@56@9G 'CIF
7CBHF=6I9F JCIG 5IGG= b @5 DFCH97H=CB 89
@5 B5HIF9 A9HH9N @9G A5HgF=5IL
89A65@@5;9 5I F96IH 89 :5eCB
F9GD97HI9IG9 89 @9BJ=FCBB9A9BH
CBGI@H9N JCHF9 F9J9B89IF CI
@58A=B=GHF5H=CB AIB=7=D5@9 DCIF
7CBB5jHF9 @9G A9=@@9IFG ACM9BG
8g@=A=B9F @9A65@@5;9
d
,(*))b
#$*
d
@C=;B9N @9G 9B:5BHG 89 HCIH 75FHCB
89A65@@5;9 9H 7CADCG5BHG
89A65@@5;9 #9G:9I=@@9G 9B
D@5GH=EI9 9H @9G 75FHCBG D@=5BHG
7CADCFH9BH IB F=GEI9
8gHCI::9A9BH
#9C5 1E B52ED 45 <1>395> 1@@1B59<
#9G 5DD5F9=@G 5B7=9BG B9 GCBH D5G 89G
8g7<9HG G5BG J5@9IF ,BF97M7@5;9
F9GD97HI9IL 89 @9BJ=FCBB9A9BH
D9FA9H 89 Fg7IDgF9F 89 DFg7=9IG9G
A5H=fF9G DF9A=fF9G
d
,(*))b
#$*
d
*= @5DD5F9=@ B9 8C=H D@IG >5A5=G
G9FJ=F 8g6F5B7<9N G5 :=7<9 Ad@9 89
@5 DF=G9 89 7CIF5BH 7CID9N GCB
7CF8CB 85@=A9BH5H=CB 9H >9H9Ns@9
5J97 @5 :=7<9 Ad@9
'CIF 9ADh7<9F EI9 89G 9B:5BHG B9
G9B:9FA9BH 85BG @5B7=9B 5DD5F9=@ 9H
F=GEI9BH @9IF J=9 8gHFI=G9N @9 GMGHfA9
89 :9FA9HIF9 8I <I6@CH CI F9H=F9N 79
89FB=9F
&B?D53D9?> 45
<5>F9B?>>5=5>D
'E5CD9?>C 4Z3?<?795
-CHF9 BCIJ95I @5J9s@=B;9 IH=@=G9
9::=7579A9BH @95I @g@97HF=7=Hg 9H @9
DFC8I=H @9GG=J=9@ EI=@ 7CBGCAA9
AgB5;95BH 5=BG= b @5 :C=G
@9BJ=FCBB9A9BH 9H @9 6I8;9H 89 JCHF9
AgB5;9
,H=@=G9N JCHF9 @5J9s@=B;9 89 A5B=fF9
9::=7579 9H F9GD97HI9IG9 89
@9BJ=FCBB9A9BH
J=H9N 89 A9HHF9 HFCD 89 DFC8I=H
@9GG=J=9@
,H=@=G9N @9 8gH9F;9BH gH=EI9Hg 
DCIF C6H9B=F IB9 9::757=Hg g@9Jg9
5J97 @9G @5J9@=B;9 b 7<5F;9A9BH
:FCBH5@
>CIH9N 8I DFC8I=H @9GG=J=9@ 9B
:CB7H=CB 8I 89;Fg 89 G5@=GGIF9 89
@5 EI5BH=Hg 89 @=B;9 9H 89 @5 8IF9Hg
89 @95I )9GD97H9N @9G
=BGHFI7H=CBG 8I :56F=75BH 8I DFC8I=H
@9GG=J=9@
?>6?B=9DZ 4ED9<9C1D9?>
-CHF9 @5J9s@=B;9 9GH 89GH=Bg b
,B IG5;9 8CA9GH=EI9
IB=EI9A9BH
#5J9F 89G H9LH=@9G @5J56@9G 9B
A57<=B9 85BG @9 65=B @9GG=J=9@
#5J9F b @5=89 895I 8I FC6=B9H
:FC=89 9H 7<5I89  ° ° 9H
8588=H=:G 7CBJ9BH=CBB9@G 585DHgG
b @9AD@C= 9B @5J9s@=B;9
8CA9GH=EI9G
AE9@5=5>D 6?EB>9 4?B9b
79>5
-CHF9 @5J9s@=B;9 5 gHg :CIFB=
577CAD5;Bg 8IB D5EI9H
85779GGC=F9G -gF=:=9N EI9 @9G
5779GGC=F9G :CIFB=G 5J97 JCHF9 AC8f@9
:=;IF9BH 5I 7CAD@9H *= 89G D=f79G
A5BEI9BH DFgJ9B9N =AAg8=5H9A9BH
JCHF9 F9J9B89IF
335CC?9B5C @BZC5>DC 41>C <5
D1=2?EB
 +IM5I :@9L=6@9 85FF=Jg9 895I :FC=89
A5FEIg 9B 6@9I
 +IM5I :@9L=6@9 85FF=Jg9 895I
7<5I89 A5FEIg 9B FCI;9
 +IM5I :@9L=6@9 89 J=85B;9 89 @95I
 *57<9H 85779GGCF=9G JC=F
7=89GGCIG
background

"5 C1385D 41335CC?B95C 3?>D95>D
3539
 C=::9G G9FJ5BH b C6HIF9F @9G
CIJ9FHIF9G 89A9IFg9G @=6F9G 5DFfG
@9B@fJ9A9BH 89G 75@9G 89
HF5BGDCFH
 *IDDCFH DCIF @9 HIM5I :@9L=6@9 89
J=85B;9
 @g 85>IGH5;9 89 @<CF=NCBH5@=Hg
 7CI89 G9FJ5BH b F577CF89F @9HIM5I
:@9L=6@9 89 J=85B;9 D5F 9L b IB
gJ=9F
*I=J5BH @9 HMD9 89 6F5B7<9A9BH JCIG
5IF9N D9IHshHF9 5IGG= 69GC=B 89
@5779GGC=F9 GI=J5BH
'=f79 9B Q0T DFC7IF9NsJCIG @5
85BG HCIH9 EI=B75=@@9F=9 5I 75G Cn
JCIG B9 DCIFF=9N F577CF89F @9
@5J9s@=B;9 EIb @95I :FC=89
+CIH9 <IA=8=Hg DFgG9BH9 85BG @9
H5A6CIF DFCJ=9BH 8I 89FB=9F 9GG5= GI6=
D5F @5DD5F9=@ 5J5BH 89 EI=HH9F @5 7<5jB9
89 :56F=75H=CB
I 8CG 89 @5DD5F9=@
CF8CB 85@=A9BH5H=CB g@97HF=EI9
H9FA=Bg D5F IB9 :=7<9 Ad@9
)577CF8 895I :FC=89
)577CF8 895I 7<5I89
%ED9<<175 ED9<5
#9G CIH=@G GI=J5BHG JCIG :57=@=H9FCBH @5
Hd7<9
 +CIFB9J=G b D5B9 D@5H9
 @g b D=D9 V AA
 @g DC@M;CB5@9 V  AA
 %=J95I b 6I@@9
%ED9<<175 ED9<5
#9G CIH=@G GI=J5BHG JCIG :57=@=H9FCBH @5
Hd7<9
+CIFB9J=G b D5B9 D@5H9
@g DC@M;CB5@9 V  AA
%=J95I b 6I@@9
9=5>C9?>C
5  DCI79G  AA
6  DCI79G  AA
7  DCI79G  AA
8  DCI79G  AA
B;@9 8CIJ9FHIF9 8I <I6@CH R
'C=8G 5DDFCL=A5H=:  @6G ?;
"95E 49>CD1<<1D9?>
d
,(*))b
#$*
d
%9 F9@=9N >5A5=G @9 :=@ 89 H9FF9 8I
@5J9s@=B;9 b IB9 HIM5IH9F=9 9B
D@5GH=EI9 b IB HIM5I 89 ;5N CI
895I 7<5I89
,E <5C F9D5CC5C 45CC?B175 1CC5J
Z<5F5ZC AE1DD59>D <1 =1389>5 9< 61ED
<9>CD1<<5B CEB E> C?< 4EB 5D 295> @<1D
)9 F?EC <9>CD1<<5J CEB E> @<1>385B
59> 2?9C 1E45CCEC 4E> C?ECC?<
?E 4E> B5J45381ECCZ5 9< 61E4B1
@5ED[DB5 B5>6?1B35B 35 @<1>385B "1
CDBE3DEB5 5D <1 B?2ECD5CC5 4E
@<1>385B <V ?` 5CD 9>CD1<<Z5 <1
=1389>5 @5EF5>D 9>6<E5B CEB <5
>9F51E 45 2BE9D 5D <5C F92B1D9?>C 45
<1 =1389>5 5D 5>75>4B5B E> B9CAE5
AE5<<5 C5 4Z@<135 D?ED5 C5E<5
*= @9 @5J9s@=B;9 8C=H hHF9 =BGH5@@g GIF IB
D@5B7<9F J9I=@@9N
q #9G GIF:579G AC@@9G H9@@9G EI9
79@@9G F97CIJ9FH9G 89 75FD9HH9 CI
@9G F9JhH9A9BHG b 8CG 9B ACIGG9
B9 7CBJ=9BB9BH D5G *= DCGG=6@9
D@579F @5DD5F9=@ 85BG IB 7C=B 89 @5
D=f79
q -=GG9F IB9 D@5B7<9 FgG=GH5BH9 b
@95I gD5=GG9IF A=B=AIA W GIF
@9 GC@
q ,H=@=G9F 89G 6F=89G 89 F9H9BI9 DCIF
6@CEI9F @9G D=98G 8I @5J9s@=B;9
'CIF C6H9B=F 79G 6F=89G 9B ?=H
58F9GG9NsJCIG 5I G9FJ=79
5DFfGsJ9BH9 BR 89 Fg: .$1 
q 9H 5DD5F9=@ B9 D9IH D5G hHF9
ACBHg 5I89GGIG 8I D@5B 89
HF5J5=@
q 9H 5DD5F9=@ B9 D9IH D5G hHF9
ACBHg 9B89GGCIG 8I D@5B 89
HF5J5=@
#?>D175 CEB 5CDB145
'CIF ACBH9F @9 @5J9s@=B;9 GIF @9GHF589
CG7< 5779GGC=F9 DCFH9IF 8I BR 89
Fg:.+1  DCIF @9 AC8f@9 7C@CFf
5779GGC=F9 DCFH9IF 8I 89 Fg: .+1
* J9I=@@9N GI=JF9 @5 BCH=79 8=Bs
GHFI7H=CBG 577CAD5;B5BH 79H 5779Gs
GC=F9
i
>CD1<<5J <5 @9Z45CD1< 1F1>D
45><5F5B 45C 2?E<?>C 45
DB1>C@?BD
background

&<131B4
*= @9 @5J9s@=B;9 8C=H :CB7H=CBB9F 85BG IB
D@575F8 F9GD97H9N @9G g75FHG A=B=A5IL
7CB:CFAgA9BH 5I H56@95I GI=J5BH
75FHG A=B=AIA b @=BGH5@@5H=CB
,"$"2%
WAQ@   ::
(<::2A   ::
??6P?2   ::
2C.;A   ::
*CAA9H  GE =B  GE 7A
B 65G  GE =B  GE 7A
853;"9CD @?EB
<9>CD1<<1D9?>
"(&
;92C2G 0<:=9PA2:2;A 92@ /<B9<;@
12 A?.;@=<?A .:2;2G 92 9.C296;42 @B?
@<; 2:=9.02:2;A

?.;052G 92 392E6/92 L 2.B 2A 92 392E/692
12 C61.;42

'.00<?12G92 L B;2 =?6@2 Q92A?6>B2 
.6A2@ 496@@2? 92 9.C296;42 7B@>B2 @B?
@<; 2:=9.02:2;A 36;.9

17B@A2G92 92 =9B@ /.@ =<@@6/92 
EQ0BA2G B; 0F092 12 ;2AA<F.42 .C.;A
9. =?2:6P?2 [email protected]<;

><YF5=5>D 45C 2?E<?>
C5BF1>D 45 31<5C 45
DB1>C@?BD
&(+$
%9 A9HH9N D5G @5DD5F9=@ 9B G9FJ=79
DCIF @5 DF9A=fF9 :C=G H5BH EI9 JCIG
B5J9N D5G F9H=Fg G9G 75@9G 89
HF5BGDCFH CBG9FJ9N 79G 75@9G 9B
JI9 8IB 8gD@579A9BH I@HgF=9IF
8gAgB5;9A9BH D5F 9L 89
@5DD5F9=@
q 9GG9FF9N @9G 6CI@CBG 5J5BH 89
8gJ=GG9F 7CAD@fH9A9BH @IB 89G
EI5HF9 6CI@CBG
q B@9J9N @9G 89IL 6CI@CBG 8I 65G
5J5BH 79IL 8I <5IH
q #CCG9B H<9 6C@HG IG=B; H<9 7@CG98
9B8 C: H<9  KF9B7< DFCJ=898
#CCG9B H<9A IBH=@ H<9M 75B 69
F9ACJ98 :F99@M
q +<9 F979GG98 6CHHCA 6C@HG A5M 69
ACF9 95G=@M F9ACJ98 IG=B; 5  
AA GC7?9H KF9B7<
q 9GG9FF9N @9G J=G b @5=89 89 @5 7@g
7CBHF9s7CI8g9 >IGEIb DCIJC=F :=B=F
89 @9G 8gJ=GG9F @=6F9A9BH
q B@9J9N 7CAD@fH9A9BH 7<5EI9
6CI@CB 89 HF5BGDCFH 6CI@CB F9GGCFH
FCB89@@9 9H 8CI=@@9G 'CIF79 :5=F9
=BHFC8I=G9N @5 A5=B D5F @9 <I6@CH
CIJ9FH 9H H=F9N @g;fF9A9BH @9 H5A6CIF
9B 5J5BH
q *= @9G 8CI=@@9G B9 GCFH9BH D5G @CFGEI9
JCIG F9H=F9N @9G J=G F9D@579N 79G
89FB=gF9G 85BG @9G 8CI=@@9G DI=G
9GG5M9N b BCIJ95I 5J9 DFg75IH=CB
@ 9GH =ADCFH5BH EI9 JCIG JCIG
G9FJ=9N 89G J=G G=BCB @9G 8CI=@@9G B9
GCFH=FCBH D5G 7CFF97H9A9BH
q 'CIF F5B;9F @9G 6CI@CBG 9B JI9
8IB9 IH=@=G5H=CB :IHIF9 B9 @9G
8gH57<9N D5G 89G 8CI=@@9G 9B
D@5GH=EI9
q BGgF9N @9G 757<9G >IGEIb 79
EI=@G 9B7@=EI9BH b :CB8
(1>75=5>D 45C 31<5C 45
DB1>C@?BD
%9 >9H9N D5G @9G 75@9G 89 HF5BGDCFH
-CIG 9B 5IF9N 69GC=B @CFG 8IB 8gs
D@579A9BH :IHIF 89 @5DD5F9=@ D5F 9L
@CFG 8IB 8gAgB5;9A9BH
q )5B;9N @9G 75@9G 89 HF5BGDCFH 7<5s
7IB9 gEI=Dg9 89 G5 FCB89@@9 9H 89
G5 8CI=@@9
background

"?>7E5EBC 45C DEI1EH 5D 45C 3?B4?>C
(133?B45=5>D V 71E385 (133?B45=5>D V 4B?9D5
/
0
.
2
4
3
5
1
5
1
5  DCI79G
 7A 5DDFCL
6  DCI79G
 7A 5DDFCL
7  DCI79G  7A 5DDFCL
8  DCI79G  7A A5L
9  DCI79G
 7A 5DDFCL
:  DCI79G  7A 5DDFCL
;  DCI79G
 7A 5DDFCL
<  DCI79G  7A 5DDFCL
< 5IH9IF A=B=AIA 8g7CI@9A9BH
89 @95I
EDB5C DEI1EH 6<5H92<5C
B J9BH9 7<9N JCHF9 F9J9B89IF
GDg7=5@=Gg
)5@@CB;9 89 HIM5I :@9L=6@9
85@=A9BH5H=CB 5DDFCL 
DCI79G  A
B1>385=5>D 45 <51E
<9=5>D1D9?> 5> 51E
&(+$
%9 :5=H9G A5F7<9F 79 @5J9s@=B;9
EI5J97 89 @95I DFCJ9B5BH 8I
FC6=B9H 895I :FC=89 CI 895I
7<5I89  R  R A5L= %9
F577CF89N D5G @5DD5F9=@ 5I A=H=;9IF
8IB 7<5I::9s95I BCB DF9GGIF=Gg
B 75G 89 8CIH9 7CB:=9N @9
6F5B7<9A9BH b IB H97<B=7=9B 5;Fgg
-9=@@9N 6=9B b
%9 D5G D@=9F B= 5D@5H=F @9 HIM5I
:@9L=6@9 85@=A9BH5H=CB 9B 95I
%9 D5G @9 AC8=:=9F B= @9 7CID9F G5
GC@=8=Hg B9 G9F5=H D@IG ;5F5BH=9
*9FF9N @9G F577CF8G 9B D@5GH=EI9
IB=EI9A9BH b @5 A5=B %9B@9J9N D5G
@9G 7F=6@9G 89 :=@HF5;9 gEI=D5BH @9G
HIM5IL :@9L=6@9G 85@=A9BH5H=CB 9B 95I
+9B9N 7CADH9 89 @5 DF9GG=CB Fg;B5BH
85BG @9 FgG95I 895I DI6@=7
#5 DF9GG=CB 89 @95I 8C=H hHF9
7CADF=G9 9BHF9  9H  DG=  b
 65FG FC6=B9H CIJ9FH 79@I=s7=
8C=H 8g6=H9F 5I AC=BG  ;5@@CBG
,*  @=HF9G 895I D5F A=BIH9
*= @5 DF9GG=CB 89 @95I 5I FC6=B9H
8gD5GG9  DG= =@ :5I8F5 =BGH5@@9F
IB 8gH9B89IF
&(+$
'CIF JCIG DFCHg;9F 89 HCIH F=GEI9
8=BCB85H=CB @9G FC6=B9HG 895I
7<5I89 9H 895I :FC=89 8C=J9BH
89A9IF9F 5779GG=6@9G IB9 :C=G @9
@5J9s@=B;9 9B D@579 )5A9B9Ns@9G
HCI>CIFG 9B DCG=H=CB :9FAg9 @CFGEI9
@9 @5J9s@=B;9 B9 G9FH D5G
&(+$
*= JCIG =BGH5@@9N @9 @5J9s@=B;9 85BG
IB 6dH=A9BH B9I: CI 85BG IB
6dH=A9BH 8CBH @9 FgG95I 89
7CB8I=H9G J=9BH 8hHF9 Fg79AA9BH
=BGH5@@g CI FgD5Fg :5=H9G 856CF8
7CI@9F 695I7CID 895I D5F @9G
7CB8I=H9G 89 79 FgG95I 5J5BH 89
@9IF F577CF89F @9 @5J9s@=B;9 9HH9
CDgF5H=CB 5 DCIF 6IH 89 7<5GG9F @9
G56@9 @9G =ADIF9HgG 9H FgG=8IG EI=
DCIFF5=9BH hHF9 F9GHg9G 85BG @9G
7CB8I=H9G
B1>385=5>D
B1>385=5>D 45 <51E 6B?945 5D
B1>385=5>D 45 <51E 381E45
 °  ° =1H
q @ :5IH G9FF9F b <1 =19> @9G F577CF8G
9B D@5GH=EI9 @CFGEI9 JCIG
6F5B7<9N @9G :@9L=6@9G
85@=A9BH5H=CB 5I 8CG 89
@5DD5F9=@ %9 F9H=F9N D5G @9G
7F=6@9G G=HIgG 85BG @9G :@9L=6@9G
85@=A9BH5H=CB 9B 95I
-*.
--
q DFfG @9 6F5B7<9A9BH
CIJF9N @9G FC6=B9HG 895I 9B ;F5B8
9H JgF=:=9N EI9 @9G F577CF8G GCBH
gH5B7<9G
background

d
&(+$
#9G F577CF8G G9 HFCIJ9BH GCIG @5
DF9GG=CB =BHg;F5@9 89 @95I -gF=:=9N
@9IF gH5B7<g=Hg 5J97 7<5EI9 FC6=B9H
9B DCG=H=CB ;F5B89 CIJ9FH9
,941>75 45 <51E
&(+$
%9 D@=9N D5G @9 HIM5I :@9L=6@9 89
J=85B;9 89 @95I 9H B9 @9H=F9N D5G
=::gF9B79 89 <5IH9IF 9BHF9 @5 GIF:579
Cn F9DCG9 @9 @5J9s@=B;9 9H 79@@9 89
J=85B;9 D=98G  7A A5L=AIA
D=98G  7A A=B=AIA
B1>385=5>D 4E DEI1E
6<5H92<5 45 F941>75 45 <51E
q $? B5D9B5J @1C <1 F9C 4E CICDY=5
45 2B94175 9GG9FF9N G9I@9A9BH
@5 J=G 79 EI=@ :5IH DCIF EI9 @5 6F=89
;@=GG9 @=6F9A9BH GIF @9 :@9L=6@9 89
J=85B;9
 =L9N @9 HIM5I :@9L=6@9 89 J=85B;9 b
@9LHFgA=Hg 89 @5 DF=G9 89 J=85B;9
 =L9N @9 HIM5I 89 J=85B;9 7CBHF9 @9
F577CF8 b 79H 9::9H 5I 8CG 89
@5DD5F9=@ DCG=H=CBB9N @5 6F=89 8I
:@9L=6@9 b 5DDFCL  DCI79G 
AA 89 @9LHFgA=Hg 8I :@9L=6@9
 *9FF9N @5 6F=89 5J97 IB HCIFB9J=G
(133?B45=5>D V E> DEI1E
F5BD931<
q *9FJ9NsJCIG 8I 7CI89 =L9N @9
7CI89 b @9LHFgA=Hg 8I HIM5I
:@9L=6@9 DI=G =BGgF9N @9LHFgA=Hg 8I
HIM5I :@9L=6@9 85BG @9 HIM5I
J9FH=75@
q ,H=@=G9N IB 7C@@=9F CI IB G9FF9s7d6@9
DCIF A5=BH9B=F @9HIM5I :@9L=6@9 9B
D@579
>CD1<<1D9?> 5>31CDBZ5 41>C
<5=EB
q *9FJ9NsJCIG 8I 7CI89 =L9N @9
7CI89 b @9LHFgA=Hg 8I HIM5I
:@9L=6@9 DI=G =BGgF9N @9LHFgA=Hg 8I
HIM5I :@9L=6@9 85BG @5J5@C=F AIF5@
q @ :5I8F5=H EI9 @9 :@9L=6@9 9H @9 7CI89
DgBfHF9BH 85BG @9 7CB8I=H 89
J=85B;9 CIJ9FH 5IGG= @C=B EI9 @9
7CI89 @9 D9FA9H @CFGEI9B 5GG=G9
7CAA9 GIF @5 :=;IF9 7=89GGIG
q ,H=@=G9N IB 7C@@=9F CI IB G9FF9s7d6@9
DCIF A5=BH9B=F @9 HIM5I :@9L=6@9 9B
D@579
,941>75 41>C E> C9@8?>
q *g7IF=G9N @5 >CB7H=CB 5I ACM9B
8IB 7C@@=9F =@ B9GH D5G 7CADF=G
85BG @9G :CIFB=HIF9G 8CF=;=B9
,941>75 41>C E> <1F12?
&(+$
-9=@@9N 6=9B b 79 EI9 @9 6CI7<CB 8I
@5J56C BC6HIF9 D5G 79 89FB=9F
q =L9N @9 HIM5I :@9L=6@9 89 A5B=fF9
GpF9 7CBHF9 @9 @5J56C
q ,H=@=G9N IB 7C@@=9F CI IB G9FF9s7d6@9
DCIF A5=BH9B=F @9 HIM5I :@9L=6@9 9B
D@579
q +5B8=G EI9 @9 @5J9s@=B;9 G9
J=85B;9 JgF=:=9N EI9 @9 8g6=H
8g7CI@9A9BH 895I 85BG @9
@5J56C 9GH 7CFF97H
background

B1>385=5>D Z<53DB9AE5
%$)$) 
(%(#$* " *((
@ :5IH =ADgF5H=J9A9BH F577CF89F 79
@5J9s@=B;9 b @5 H9FF9 *= IB
8MG:CB7H=CBB9A9BH CI IB9 D5BB9 G9
DFC8I=H @9 F577CF89A9BH b @5 H9FF9
Fg8I=F5 @9 F=GEI9 89 7<C7 g@97HF=EI9 JI
EI9 @9 7CIF5BH DCIFF5 Gg7<5DD9F D5F
IB :=@ C::F5BH IB9 :5=6@9 FgG=GH5B79
g@97HF=EI9 9H 5DD5F9=@ 9GH gEI=Dg 8IB
7CF8CB 85@=A9BH5H=CB =BHg;F5BH IB :=@
89 H9FF9 9H IB9 :=7<9 89 H9FF9 @ :5IH
F577CF89F @5 :=7<9 b IB9 DF=G9 :9A9@@9
Fg;@9A9BH5=F9A9BH =BGH5@@g9 9H 8CHg9 89
7CBH57HG 9ILsAhA9G F577CF8gG b @5
H9FF9 797= 9B 7CB:CFA=Hg 5J97 @5
Fg;@9A9BH5H=CB 9H @9G CF8CBB5B79G
@C75@9G
d
,(*))b
#$*
d
,B F577CF89A9BH =B7CFF97H 89
@5DD5F9=@ b @5 H9FF9 9B;9B8F9 IB
F=GEI9 89 7<C7 g@97HF=EI9 *= JCIG
5J9N 89G 8CIH9G GIF GCB
F577CF89A9BH b @5 H9FF9 7CB:=9N @5
JgF=:=75H=CB b IB g@97HF=7=9B 5;Fgg CI
b IB H97<B=7=9B 8I *-
%9 AC8=:=9N >5A5=G @5 :=7<9 Ad@9 :CIFB=9
5J97 @5DD5F9=@ *= 9@@9 F9:IG9 89 F9BHF9F
85BG @5 DF=G9 :9A9@@9 :5=H9Gs9B =BGH5@@9F
IB9 5DDFCDF=g9 D5F IB g@97HF=7=9B
5;Fgg
d
,(*))b
#$*
d
%9 F577CF89N @9 @5J9s@=B;9 EIb IB9
@=;B9 8I G97H9IF 8CA9GH=EI9
GDg7=5@9A9BH 89GH=Bg9 b 79@I=s7= 9H
H9FA=Bg9 D5F IB9 DF=G9 :9A9@@9
Fg;@9A9BH5=F9A9BH F577CF8g9 b @5
H9FF9
#5 H9BG=CB 8I G97H9IF 8CA9GH=EI9 8C=H
7CFF9GDCB8F9 b 79@@9 GDg7=:=g9 GIF @5
D@5EI9 G=;B5@gH=EI9 89 @5DD5F9=@
D@5EI9 G=;B5@gH=EI9 JC=FD5;9 
#9G GDg7=:=75H=CBG 89 6F5B7<9A9BH
5=BG= EI9 @5ADgF5;9 EI9 8C=J9BH
GIDDCFH9F @9G :IG=6@9G 8=G>CB7H9IFG
:=;IF9BH g;5@9A9BH GIF @5 D@5EI9
G=;B5@gH=EI9
/,43
&249 -0=2&3 "443
   
:.E
GGIF9NsJCIG EI9
#5 :=7<9 Ad@9 F9BHF9 6=9B 85BG @5
DF=G9 :9A9@@9 8I G97H9IF
#9G :=@G 89G 7d6@9G DFgG9BH9BH 6=9B
@5 G97H=CB A=B=AIA 58A=G9
#9 7=F7I=H 89 F577CF89A9BH b @5
H9FF9 5 gHg 7CFF97H9A9BH =BGH5@@g
*9I@ IB g@97HF=7=9B 5;Fgg 9GH <56=@=Hg b
F9AD@579F IB 7d6@9 89 G97H9IF
9G 7d6@9G G97H9IF 89 F97<5B;9 GCBH
8=GDCB=6@9G 5IDFfG 8I G9FJ=79
5DFfGsJ9BH9
d
,(*))b
#$*
d
'CIF gJ=H9F HCIH F=GEI9 8=B79B8=9 CI
89 7<C7 g@97HF=EI9 %,+ # *1 '*
89 DFC@CB;5H9IF CI 89 AI@H=DF=G9G
DCIF F577CF89F 79 @5J9s@=B;9 5I
G97H9IF g@97HF=EI9
*=@ 9GH DFgJI 8IH=@=G9F IB 8=G>CB7H9IF
8=::gF9BH=9@ 7CID5BH HCIH9 :I=H9 89
7CIF5BH b @5 H9FF9 J9I=@@9N BIH=@=G9F
EIIB 8=G>CB7H9IF 5F6CF5BH @9 GMA6C@9
7
*9I@ 79 GMA6C@9 ;5F5BH=H EI9 @9
8=G>CB7H9IF 9GH 7CB:CFA9 b HCIH9 @5
Fg;@9A9BH5H=CB 9B J=;I9IF
%9 8g6F5B7<9N >5A5=G @5 :=7<9 Ad@9
5J97 @9G A5=BG ACI=@@g9G CI <IA=89G
#CFGEI9 JCIG 8g6F5B7<9N @5 :=7<9
Ad@9 G5=G=GG9N HCI>CIFG @5 :=7<9 D5G @9
7CF8CB
d
&(+$
'&, - +) ) *(, 
#**,)* *CM9N DFI89BH
D9B85BH EI9 JCIG IH=@=G9N @5 7@g
:ECD175 8?B9J?>D1<
 #5DD5F9=@ 8C=H A5=BH9B5BH G9
HFCIJ9F b G5 D@579 8g:=B=H=J9 DFhH b
hHF9 A=G b B=J95I G= JCIG 8gD@579N
@5DD5F9=@ 5DFfG @5JC=F A=G b
B=J95I =@ :5I8F5 F9:5=F9 @5 A=G9 b
B=J95I
'@579N HCIG @9G D=98G 8I @5J9s@=B;9
6=9B 85D@CA6 GIF @9 GC@ DCIF
5GGIF9F G5 GH56=@=Hg
'FC7g89N 5DFfG 5JC=F J=GGg @9G
EI5HF9 D=98G @9 D@IG DCGG=6@9 DI=G
JCIG A9HHF9N b B=J95I @9 @5J9s@=B;9
9B 8gJ=GG5BH 7<5EI9 D=98
 ,H=@=G9N @9 B=J95I b 6I@@9 DCIF
A9HHF9 b B=J95I @5J5BH 9H @5FF=fF9
8I @5J9s@=B;9 DI=G @9G 7mHgG
JgF=:=9N EI9 @9 B=J95I b 6I@@9
G9B75GHF9 9BHF9 @9G 6CF8G 8I
@5J9s@=B;9 @5 ACI@IF9 b @5 GIF:579
89 @5DD5F9=@ B9 8C=H D5G GIFg@9J9F
IB9 89 G9G 9LHFgA=HgG
 )g;@9N @5 D@5Bg=Hg 8I @5J9s@=B;9 b
@5=89 89G EI5HF9 D=98G Fg;@56@9G
9B <5IH9IF $9HH9N @5DD5F9=@ b
B=J95I @9 D@IG DFfG DCGG=6@9 8I GC@
5:=B 89 Fg8I=F9 @9G J=6F5H=CBG
q 9GG9FF9N @g7FCI 89 6@C75;9 
GIF @5 :=;IF9 9B @9 HCIFB5BH 9B
G9BG <CF5=F9 b @5=89 89 @5 7@g
:CIFB=9 7@g b AC@9HH9 
DCI79G B HCIFB5BH @g7FCI 89
6@C75;9 @9 D=98  GIF @5 :=;IF9
EI=@ 6@CEI9 HCIFB9 5J97 @I=
9HH9 CDgF5H=CB 5@@CB;9 @9 D=98
q 5=F9 GCFH=F @9 D=98 HCIFB9F 9B
G9BG <CF5=F9 GCI@fJ9 @9 7C=B 8I
@5J9s@=B;9 5=F9 F9BHF9F @9 D=98
HCIFB9F 85BG @9 G9BG
5BH=s<CF5=F9 565=GG9 @9 7C=B 8I
@5J9s@=B;9 ,B9 :C=G @9 7C=B @9Jg
CI 565=GGg 5I B=J95I
5DDFCDF=g =AAC6=@=G9N @9 D=98
Fg;@56@9 9B HCIFB5BH @g7FCI 89
6@C75;9 85BG @9 G9BG
5BH=s<CF5=F9 >IGEIb 79 EI=@ G9
6@CEI9 7CBHF9 @9 75DmH 8I
@5J9s@=B;9
i
-CIG 89JF9N
gJ9BHI9@@9A9BH IH=@=G9F IB9
D5=F9 89 D=B79G DCIF
A5=BH9B=F @9 D=98 9H
@9ADh7<9F 89 HCIFB9F 5J97
@g7FCI EI9 JCIG G9FFF9N *=
@9 D=98 HCIFB9 79 89FB=9F
J5 AC8=:=9F @5 <5IH9IF 8I
7C=B
background

q DFfG 5JC=F Fg5@=Gg @9G Fg;@5;9G
DFg@=A=B5=F9G 5DDIM9N GIF
7<5EI9 7C=B 8I @5J9s@=B;9 DCIF
JgF=:=9F EI=@ B9 J57=@@9 D5G *=@
J57=@@9 565=GG9N @9 D=98 8I 7C=B
7CB79FBg >IGEIb 79 EI=@ 9BHF9
:F5B7<9A9BH 9B 7CBH57H 5J97 @9
GC@
 @5=89 8IB B=J95I b 6I@@9
@CB;I9IF 89  DCI79G
A5L=AIA 7CBHFm@9N @5 D@5Bg=Hg 8I
@5J9s@=B;9 DCIF 5JC=F 89G
=B:CFA5H=CBG 8gH5=@@g9G JC=F @5
G97H=CB 89 A=G9 b B=J95I 85BG @9
A5BI9@ IH=@=G5H9IF
q 'CG9N @9 B=J95I b 6I@@9 GIF @9
89GGIG 89 @5DD5F9=@ DCIF
JgF=:=9F @9 B=J95I 8IB 7mHg b
@5IHF9 9H 89 @5J5BH J9FG
@5FF=fF9
q *= @5 6I@@9 G9 G=HI9 5I 79BHF9
79@5 G=;B=:=9 EI9 @5DD5F9=@ 9GH
6=9B B=J9@g *= 79 B9GH D5G @9
75G FgDgH9N @5 DFC7g8IF9 89
B=J9@@9A9BH >IGEb 79 EI=@ GC=H
6=9B B=J9@g ,B 7CBG9=@ G= @5
6I@@9 9GH DFC7<9 8IB9
9LHFgA=Hg 797= G=;B=:=9 EI9
79HH9 9LHFgA=Hg 9GH D@IG g@9Jg9
EI9 @5IHF9 'CIF B=J9@9F
@5DD5F9=@ 565=GG9N @9LHFgA=Hg
HFCD <5IH9 CI F9@9J9N
@gLHFgA=Hg HFCD 65GG9
q DFgG 5JC=F B=J9@g @5DD5F9=@
8IB 7mHg b @5IHF9 HCIFB9N @9
B=J95I c 6I@@9 DCIF EI=@
F9DCG9 GIF @9 89GGIG 89
5J5BH b @5FF=49F9 89 @5DD5F9=@
9H JgF=:=9N 5IGG= @9 B=J9@@9A9BH
85BG 79 G9BG@b
 )g;@9N 5J97 DFg7=G=CB @5 D@5Bg=Hg
8I @5J9s@=B;9 9B D@5e5BH IB D9H=H @CH
89 @=B;9 85BG @5 A57<=B9
8gA5FF9N IB9 GgEI9B79
89GGCF5;9 DI=G 5>IGH9N b BCIJ95I
@5 D@5Bg=Hg
i
*= JCIG GHCDD9N @9 7M7@9
89GGCF5;9 A5BI9@ 5J5BH GCB
57<fJ9A9BH @9 <I6@CH F9GH9 :9FAg
D9B85BH  G97CB89G
*B1>C@?BD @1B 5H 5> 31C
45 4Z=Z>175=5>D
J5BH 89 HF5BGDCFH9F @9 @5J9s@=B;9
)9:9FA9N @9G FC6=B9HG 895I
g6F5B7<9N @9 @5J9s@=B;9 89 @5
DF=G9 89 G97H9IF
g6F5B7<9N @9G HIM5IL :@9L=6@9G
85@=A9BH5H=CB 9H 89 J=85B;9
$9HH9N @9G 75@9G 89 HF5BGDCFH 9B
D@579
i
DFfG 5JC=F HF5BGDCFHg @5DD5F9=@
5DFfG @5JC=F F96F5B7<g 9H JCIG
hHF9 5GGIFg EI=@ 9GH 7CFF97H9A9BH
=BGH5@@g 9H 6F5B7<g 7CAA9B79N
D5F IH=@=G9F @9 DFC;F5AA9 ,941>75
5J5BH 89 @5B79F @9 DF9A=9F
DFC;F5AA9 89 @5J5;9
&BZ@1B1D9?> 5D 9>C5BD9?> 45C
31<5C 45 DB1>C@?BD
q )9H=F9N @9G 7C=::9G
q 'FgD5F9N @9G 75@9G 89 HF5BGDCFH
9GG9FF9N @5 J=G DgBgHF5BH 85BG @5
8CI=@@9 797= >IGEIb 79 EI9
@9LHFgA=Hg 89 @5 J=G 5FF=J9 b F5G 89
@CF=:=79 89 @5 8CI=@@9
q BGgF9N 9H G9FF9N HCIH9G @9G 75@9G
89 HF5BGDCFH #5 D5FH=9 G5=@@5BH9 8I
6CI@CB 8C=H G9 G=HI9F 85BG @5
F5=BIF9 J=G=6@9 85BG @9 D5BB95I
5FF=gF9 6CjH=9F
background

$)*(+*%$) +*")*%$
&BZC5>D1D9?> 45 F?DB5 >?EF51E <1F5b<9>75
+2?@2:2;A 1B =?<1B6A 92@@6C629 2A<B 1.116A63@
1.;@ 92@ 0<:=.?A6:2;A@
%BC?2G 9. =<?A2 ?2=P?2 2; 0<B92B? 
A ?232?:2G 9. =<?A2
d &(+$ "1 DB1@@5 4133YC C9DEZ5 5> 21C V 4B?9D5 4E <1F5b<9>75 5CD BZC5BFZ5 1E @5BC?>>5<
45>DB5D95> <<5 >5 4?9D [DB5 ?EF5BD5 AE5 @1B E> D538>9395> 45>DB5D95> 17BZZ ?E AE1<969Z
background

"5 21>451E 45 3?==1>45
/54/.3 %&3 /04*/.3
C<B@ =<BC2G 92@ .7<BA2? .B =?<4?.::2 @6 ;Q02@@.6?2
,&"$) 9.==.?269 .7<BA2 B; 0F092 12 /9.;056:2;A .B
=?<4?.::2 @Q920A6<;;Q
*.3& 0,53 0F092 12 ?6;O.42 @B==9Q:2;A.6?2
&"68 %548 9. 1B?Q2 12 9.C.42 .B4:2;A2 0.? 9. 05.?42
12 96;42 2@A A?P@ @.92
+<B@ =<BC2G 0<:/6;2? 02@ <=A6<;@ L C<9<;AQ
* 6/53 "6&9 $)/*3* 5.& /04*/.
"2 C<F.;A 6;160.A2B? @.99B:2 2; ?<B42
/52 %>3"$4*6&2 5.& /04*/.
==BF2G L ;<BC2.B @B? @<; /<BA<; "2 C<F.;A 6;160.A2B?
@QA26;A
''*$)"(&
"2 ;<:/?2 152B?2@ 12 %*''>2> %5 %>0"24  52B?2@ 606 '2.1F
6; @.336052 @6 C<B@ .C2G @Q920A6<;;Q B; =?<4?.::2
"2 A2:=@ 4"24 *. 1Q:.??.42 @.336052 @6 C<B@ .C2G 05<6@6 2;
=9B@ 9. 3<;0A6<; &,"8 4"24
/54/. 4"24"53&
2 /<BA<; @2?A L 9.;02? 2A 6;A2??<:=?2 92 0F092 12
9.C.42 C<B@ 12C?2G 1./<?1 @Q920A6<;;2? 92
=?<4?.::2
/8".4 *.%*$"4&52
"2 C<F.;A 0964;<A2 2; ?<B42 0206 @64;6362 >B2 C<B@
=<BC2G :<16362? 92@ ?Q49.42@ 2A =<BC2G 9.;02? 92
0F092 12 9.C.42 >B2 92 5B/9<A 2@A C2??<B699Q =<B? 12@
?.6@<;@ 12 @Q0B?6AQ <B >B2 92=?<4?.::2 @2 A?<BC2
2; :<12 J&.B@2K
"2 C<F.;A 2@A .99B:Q 2; ?<B42 0206 @64;6362 >BB;
=?<4?.::2 2@A 2; 0<B?@ 12EQ0BA6<; +<B@=<BC2G
.==BF2? @B? 92 /<BA<; J&.B@2K
"2 C<F.;A 2@A QA26;A 0206 @64;6362 >B2 92 =?<4?.::2
2@A A2?:6;Q <B >B2 C<B@ ;2; .C2G =.@ @Q920A6<;;Q
/54/. &,"8 4"24 %>0"24 %*''>2>
"2 1633Q?Q 1B %>0"24 29.F (A.?A =2BA .AA26;1?2  52B?2@ @6;Q02@@.6?2
(B? 9Q0?.; @.336052 1.;@ 0<:/62; 152B?2@ 92 9.C2[96;42 1Q:.??2?.
/54/. %& 3>,&$4*/. %& ,&33/2"(&
9 @2?A L :<16362? 9. C6A2@@2 12@@<?.42 @6 ;Q02@@.6?2 "2 C<F.;A 0<??2@=<;1.;A
L 9. C6A2@@2 12@@<?.42 @B? 9.>B2992 92 /<BA<; . QAQ ?Q49Q @.99B:2 2; ?<B42
2/(2"--"4&52
9 @2?A L .99B:2? 2A QA26;1?2 9. :.056;2 2A L @Q920A6<;;2?
92 =?<4?.::2 C<B9B 2=?<4?.::.A2B? =2BA A<B?;2?
1.;@ 92@ 12BE @2;@
&2;1.;A 92 1Q?<B92:2;A 1B =?<4?.::2 92
=?<4?.::.A2B? ;2 A<B?;2 =.@ 2@A B; 06?0B6A
Q920A?<;6>B2 >B6 0<::.;12 92@ @Q>B2;02@ 1B
=?<4?.::2
/8".43 *.%*$"4&523
"2 C<F.;A %//2 ,/$+&% 5B/9<A 32?:Q @.99B:2 @6 C<B@ .C2G @Q920A6<;;Q
B; =?<4?.::2 2A .==BFQ @B? 92 /<BA<; 4"24
"2@ C<F.;A@ 7"3) 2*.3& 2A 30*. 9.C.42 ?6;O.42 2A 2@@<?.42 @.99B:2;A
@6 92 =?<4?.::2 0<??2@=<;1.;A 2@A 2; 0<B?@
"2 C<F.;A '*.*3)&% 36; @.99B:2 @6 92 =?<4?.::2 2@A =?RA
(6 92@ C<F.;A 6;160.A2B?@ 0964;<A2;A 0206 @64;6362 9. =?Q@2;02 1B;1Q3.BA
12 3<;0A6<;;2:2;A
background

(ZCE=Z 45C 9>CDBE3D9?>C
d F5BD9CC5=5>D
J5BH 8IH=@=G9F JCHF9 @5J9s@=B;9 J9I=@@9N
@=F9 9H GI=JF9 HCIH9G @9G =BGHFI7H=CBG
8=BGH5@@5H=CB 9H 8IH=@=G5H=CB
&BZ@1B1D9?> 4E <9>75
%EFB5J
)Z<53D9?>>5J E> 3I3<5 5D
619D5C 4Z=1BB5B <5 <1F5b
<9>75
#?49695J <5C BZ7<175C <1
F9D5CC5 45CC?B175 @1B 5H
@E9C <1>35J <5 <1F175
@BYC <5 <1F175
5B=5J
background

F1>D 4ED9<9C5B
<1@@1B59< @?EB <1
@B5=9YB5 6?9C
#9 @5J9s@=B;9 8C=H 5JC=F gHg
7CFF97H9A9BH =BGH5@@g 9H F577CF8g
F9DCFH9NsJCIG b @5 D5;9 
J5BH 8IH=@=G9F JCHF9 @5J9s@=B;9 DCIF @5
DF9A=fF9 :C=G
q -gF=:=9N EI9 @5 H9BG=CB 8I G97H9IF
8CA9GH=EI9 GIF @5EI9@@9 8C=H :CB7s
H=CBB9F @9 @5J9s@=B;9 7CFF9GDCB8 b
79@@9 GDg7=:=g9 GIF @5 D@5EI9 G=;B5s
@gH=EI9
q -gF=:=9N EI9 @9G J5BB9G b 95I 8I
@5J9s@=B;9 CBH gHg 7CBB97Hg9G 7CFs
F97H9A9BH 9H EI9@@9G G9 HFCIJ9BH
9B DCG=H=CB CIJ9FH9
+D9<9C1D9?> @?EB <1
@B5=9YB5 6?9C
&B5=95B 3I3<5 45 <1F175
C1>C <9>75
-CHF9 5DD5F9=@ 5 gHg H9GHg 5J5BH 89
EI=HH9F @IG=B9 'CIF JCIG 5GGIF9F EI9
JCHF9 DF9A=gF9 7<5F;9 89 @=B;9 G9F5
6=9B @5Jg9 9Lg7IH9N 5ID5F5J5BH IB
7M7@9 7CAD@9H b J=89
q %9 7<5F;9N D5G 89 @=B;9 85BG @9
H5A6CIF
q &IJF9N @9 FC6=B9H 895I
q &IJF9N 9B ;F5B8 @9 7CIJ9F7@9 8I
657 b DFC8I=HG @9GG=J=9@G
q -9FG9N 9BJ EI5FH  @=HF9 895I
85BG @9 7CAD5FH=A9BH 8I 657 b
DFC8I=HG @9GG=J=9@G JC=F D5;9 
q -9FG9N b 7 b GCID9 89 DFC8I=H
@9GG=J=9@ 85BG @9 7CAD5FH=A9BH b
DFC8I=H @9GG=J=9@
i
%IH=@=G9N D5G 89 8gH9F;9BH DCIF
H9LH=@9G 8g@=75HG F=GEI9 8IB9
DFC8I7H=CB 9L79GG=J9 89 ACIGG9
q )9:9FA9N @9 7CIJ9F7@9 8I 657
bDFC8I=HG @9GG=J=9@G
q )9:9FA9N @9 <I6@CH
q )g;@9N @9 DFC;F5AA5H9IF GIF
(57E<1B?DD?> 8?D
#9 JCM5BH =B8=75H9IF )D1BD&1EC5
7@=;BCH9 9B FCI;9
q DDIM9N 9BGI=H9 GIF @9 6CIHCB
)D1BD&1EC5
#9 DFC;F5AA9 8gA5FF9
#9 JCM5BH 89 7CBHFm@9 F9GH9 5@@IAg
9B FCI;9 G5BG 7@=;BCH9F
i
#9 H9ADG 89 A5F7<9 8I
DFC;F5AA9 5DD5F5jH b @5::=7<5;9
,B9 :C=G @9 H9ADG 5::=7<g F9J9BI GIF
Q0:00T
q &IJF9N @9 <I6@CH
q )5A9B9N @9 DFC;F5AA5H9IF GIF
%66
&BZ@1B1D9?> 4E <9>75
&(+$
#9G C6>9HG 8=J9FG D5F 9L D=f79G 89
ACBB5=9 HFCA6CB9G 5=;I=@@9G
7@CIG 9H 85IHF9G C6>9HG 8IFG
D9IJ9BH D9B85BH @9 @5J5;9
9B8CAA5;9F @9 @=B;9 5=BG= EI9
79FH5=B9G D=f79G 8I @5J9s@=B;9 @9
H5A6CIF D5F 9L
q -=89N HCIH9G @9G DC7<9G EI9
7CADCFH9 @9 @=B;9
q FCGG9N @9G 6CIFF9G @9 G56@9 9H @9G
G5@=GGIF9G
q 9FA9N @9G :9FA9HIF9G b ;@=GG=fF9G
9H 6CIHCBB9N @9G 7CI9HH9G 9H7
q B@9J9N @9G FCI@9HH9G 89G F=895IL
CI @=9Ns@9G 85BG IB :=@9H
q B@9J9N @9G 65FF9HH9G 6CIHCBG
6CI7@9G 9H 85IHF9G C6>9HG 8IFG
DCIF @9G 9ADh7<9F 89 F5M9F
@=BHgF=9IF 8I @5J9s@=B;9
q B@9J9N @9G ;5FB=HIF9G 9H
CFB9A9BHG BCB @5J56@9G
q )9HFCIGG9N @9G HF=7CHG GMBH<gH=EI9G
DCIF gJ=H9F EI=@G Df@9BH
q +F5=H9N @9G G5@=GGIF9G 9H @9G H57<9G
'CIF fJ=H9F 89 D9F8F9 CI 856jA9F @9
@=B;9 CI 89B8CAA5;9F @9 @5J9@=B;9
@59A5HIF9 5FH=7@9G GI=J5BHG 85BG IB
:=@9H b @=B;9
q <5IGG9HH9G 89 6g6g D9H=HG
5FH=7@9G
q C@@5BHG 9H 65G
q 9=BHIF9G
q *CIH=9B;CF;9 5J97 5FA5HIF9 G=
JCIG @9G @5J9N 8=F97H9A9BH 85BG
@5J9@=B;9 @5FA5HIF9 F=GEI9 89
G9B@9J9F 9H 89B8CAA5;9F @9
@=B;9
*B9 4E <9>75
)5<?> C1 3?E<5EB 5D C?> 457BZ 45
C1<9CCEB5
&(+$
9FH5=B9G D=f79G 89 @=B;9 F=GEI9BH
89 8gH9=B8F9 %9 @5J9N >5A5=G @9
@=B;9 89 7CI@9IF 5J97 8I @=B;9 6@5B7
#9 @=B;9 6@5B7 F=GEI9 89 DF9B8F9 IB9
H9=BH9 ;F=GdHF9 #5J9N HCI>CIFG
GgD5FgA9BH @9 @=B;9 6@5B7 9H @9 @=B;9 89
7CI@9IF
57BZC 45 C1<9CCEB5C
)1<9CCEB5C <Z7YB5C
6G9B79 89 G5@=GGIF9G CI H57<9G
J=G=6@9G A5=G DFgG9B79 DCGG=6@9
8C89IFG 89 HF5BGD=F5H=CB
#=B;9F=9 @g;fF9 8gHg
+sG<=FHG 7<9A=G9G 9H 7<9A=G=9FG
DCFHgG G9I@9A9BH IB9 >CIFBg9
#=B;9 89 @=H G9FJ=9HH9G 89G =BJ=HgG
IH=@=GgG G9I@9A9BH IB >CIF
)1<9CCEB5C >?B=1<5C
*5@=GGIF9G 9HCI 79FH5=B9G H57<9G
@g;fF9G J=G=6@9G
+sG<=FHG 7<9A=G9G 9H 7<9A=G=9FG
HFfG =ADFg;BgG 89 HF5BGD=F5H=CB 9H
DCFHgG D@IG=9IFG >CIFG
*9FJ=9HH9G 89 H56@9 G9FJ=9HH9G 89
HC=@9HH9 9H @=B;9 89 @=H IH=@=GgG
D9B85BH IB9 G9A5=B9 A5L=AIA
)=895IL G5BG H57<9G 89 B=7CH=B9
EI= BCBH D5G gHg @5JgG 89DI=G
AC=G
)1<9CCEB5C 9>D5>C9F5C
*5@=GGIF9G 9HCI H57<9G J=G=6@9G
*9FJ=9HH9G 89 7I=G=B9 EI= CBH G9FJ=
D9B85BH IB9 G9A5=B9 A5L=AIA
%5DD9G H9LH=@9G
5J9HH9G 89 BCIFF=GGCB
-hH9A9BHG 89 D@9=B 5=F DCIF
9B:5BHG CI A5=@@CHG 89 :CCH65@@ 9H
G<CFHG 7CADCFH5BH 89G H57<9G
8<9F69 9H 89 H9FF9
-hH9A9BHG 89 HF5J5=@ H9@G EI9
G5@CD9HH9G H56@=9FG 89 6CI@5B;9F
CI 89 6CI7<9F
background

*1385C DI@9AE5C
I=@9G 89 GC=BG 7CFDCF9@G <I=@9G
;F5=GG9G 89 7I=GGCB G5I79G <I=@9
A=BgF5@9 7=F9 b65G9 89 ;F5=GG9
8<I=@9
+<g 75:g J=B FCI;9 :FI=HG
@g;IA9G
*5B; H57<9 8uI: 89 @5=H
85A=8CB b 65G9 89 DFCHg=B9G
<M8F5H9G 89 75F6CB9
*I=9 H9FF9 G56@9 D=;A9BHG 5F;=@9
FCI;9
ZD138175
<5EI9 :C=G DCGG=6@9 9B@9J9N
DFgHF5=H9N @9G H57<9G H5BH EI9@@9G GCBH
:F5j7<9G
CAA9B79N D5F H5ADCBB9F 89 @95I
G5JCBB9IG9 GIF @5 H57<9 %9:FCHH9N
D5G
BGI=H9 @5J9N @9G D=f79G 89 @=B;9
H57<g9G b @5=89 8I DFC;F5AA9
5DDFCDF=g
@ :5I8F5 D5F:C=G D@IG=9IFG @5J5;9G DCIF
D5FJ9B=F b GIDDF=A9F @9G H57<9G F969@@9G
EI= 5J5=9BH 9I @9 H9ADG 89 Gg7<9F
5J5BH @9 8gH57<5;9
*B9 4E <9>75 5> 6?>3D9?> 45C
CI=2?<5C 45>DB5D95> 697EB1>D
CEB <5EB ZD9AE5DD5 45>DB5D95>
-C=F 5IGG= @9G Fg;@5;9G 89 H9ADgF5HIF9
D5;9 
*I@5C 45 D9CCE
#5J5;9 9B A57<=B9 7CHCB Ó
#5J5;9 9B A57<=B9
@=B;9 =B:FC=GG56@9 Ô
#5J5;9 9B A57<=B9
@=B;9 8g@=75H Ò
#5J5;9 b @5 A5=B Ì
*5=@ZB1DEB5C
FC=8 Á
<5I8 Ê
+FfG 7<5I8 Â
%9 @5J9N >5A5=G 9B A57<=B9 8I @=B;9
5F6CF5BH IB9 gH=EI9HH9 89BHF9H=9B 5J97
@5 A9BH=CB QC %CH .5G<T %9 D5G
@5J9F CI @9 GMA6C@9 & %&+ .* Ú
81B75=5>D 4E <9>75
d
,(*))b
#$*
d
'&, - +) )=GEI9 89LD@CG=CB
#9G D=f79G 89 @=B;9 DFgHF5=Hg9G 5J97
IB DFC8I=H 89 B9HHCM5;9 D5F IB
DFC8I=H 8gH57<5BH CI 89 B9HHCM5;9 b
G97 7<57IB b65G9 89 GC@J5BH
7Fg9BH IB F=GEI9 89LD@CG=CB IB9
:C=G 7<5F;g9G 85BG @9 @5J9s@=B;9
CAA9B79N D5F 7CBGgEI9BH D5F
F=B79F GC=;B9IG9A9BH 79 @=B;9 b @5
A5=B
&(+$
#9G 7CFDG gHF5B;9FG DFgG9BHG 85BG
@9 H5A6CIF 8I @5J9s@=B;9 D9IJ9BH
56jA9F @9 @=B;9 J5BH 89 7<5F;9F @9
@=B;9 JgF=:=9N @56G9B79 89 7CFDG
gHF5B;9FG 85BG @9 H5A6CIF
q &IJF9N @9 <I6@CH
q gD@=9N @9 @=B;9 HF=g DI=G
=BHFC8I=G9Ns@9 G5BG H5GG9F 85BG @9
H5A6CIF $g@5B;9N @9G ;F5B89G 9H
@9G D9H=H9G D=f79G 89 @=B;9 #9G
D=f79G 89 @=B;9 89 H5=@@9G
8=::gF9BH9G G9 FgD5FH=FCBH A=9IL
D9B85BH @9GGCF5;9
i
%9 8gD5GG9N D5G @5 @=A=H9
A5L=A5@9 89 7<5F;9A9BH IB9
GIF7<5F;9 9ADh7<9F5 @9 @=B;9 89
G9 @5J9F 7CFF97H9A9BH 9H :5JCF=G9F5
@9 :FC=GG5;9
'CIF C6H9B=F @9G A9=@@9IFG FgGI@H5HG
BCIG F97CAA5B8CBG 89 7<5F;9F @9
H5A6CIF D5F HMD9G 89 H9LH=@9G
)9DCFH9NsJCIG 5IL DFC;F5AA9G
GDg7=5IL D5;9  @G 7CBH=9BB9BH 89G
=B:CFA5H=CBG GIF @9G C6>9HG
9B7CA6F5BHG @9G g7<5FD9G 9B @5=B9 D5F
9L9AD@9
&<59>5 381B75
CHCB 9H @=B;9F=9 89 7CFDG
V 381B75
'F9GG=B; D9FA5B9BH GMBH<gH=EI9G 9H
HF=7CHG
D 45 <1 381B75
#5=B9 @=B;9 8g@=75H GC=9
i
5B=5J <5 8E2<?D
,59<<5J 295> V >5 @1C 3?9>35B 45
<9>75 5>DB5 <5 8E2<?D 5D <5 :?9>D
5> 31?ED38?E3
"5 8E2<?D 4?9D C5 65B=5B
6139<5=5>D C1>C AE5 F?EC
45F95J 6?B35B
background

&(%+*)
")),")
**) 
", +
"$
,5BC5B <1 2?>>5 AE1>D9DZ
45 @B?4E9D
d
,(*))b
#$*
d
'&, - +)
)=GEI9 89ADC=GCBB9A9BH
)5B;9N @9G DFC8I=HG @9GG=J=9@G 9H
588=H=:G <CFG 89 DCFHg9 89G 9B:5BHG
#5 EI5BH=Hg 89 DFC8I=H b J9FG9F 8gD9B8
89G :57H9IFG GI=J5BHG
#5 8IF9Hg 89 @95I
)9BG9=;B9NsJCIG 5IDFfG 89 JCHF9
7CAD5;B=9 @C75@9 8=GHF=6IHF=79 89G
95IL ;I5G 6@5B85G F9EI=9F9B 89
IB5 75BH=858 89 5;9BH9 89 @5J58C
A9BCF
#5 EI5BH=Hg 89 @=B;9
#9 89;Fg 89 G5@=GGIF9
9G=B:CFA5H=CBG GIF @9G G5@=GGIF9G
:=;IF9BH b @5 D5;9  89 @5
DFgG9BH9 BCH=79
#9G GDg7=:=75H=CBG DI6@=g9G D5F @9
:56F=75BH 8I DFC8I=H @9GG=J=9@ B
IH=@=G5BH @5 6CBB9 EI5BH=Hg 89
DFC8I=H @9GG=J=9@ JCIG 7CBHF=6I9N b
Fg8I=F9 @5 DC@@IH=CB 89
@9BJ=FCBB9A9BH 9H JCIG JCIG
5GGIF9N 89G FgGI@H5HG 89 @5J5;9
CDH=A5IL
q *= JCIG 89J9N IH=@=G9F IB DFC8I=H
@9GG=J=9@ 7CBeI DCIF @9G @5J9s@=B;9
HCD BCIG F97CAA5B8CBG DCIF
gJ=H9F IB 8g;5;9A9BH 9L79GG=: 89
ACIGG9 8IH=@=G9F G9I@9A9BH @9
EI5FH b @5 AC=H=g 5DDFCL
+6@ 89 @5 EI5BH=Hg F97CAA5B8g9
D5F @9 :56F=75BH 8I DFC8I=H @9GG=J=9@
89GH=Bg 5IL @5J9s@=B;9 HCD
7CFF9GDCB85BHG 9HH9 AC=B8F9
EI5BH=Hg 89 DFC8I=H D9IH 5::97H9F @5
EI5@=Hg 8I @5J5;9 #5 DF9A=fF9 :C=G
DF9B9N G9I@9A9BH IB EI5FH 89 @5
EI5BH=Hg 89 DFC8I=H @9GG=J=9@
F97CAA5B8g9 I;A9BH9N @5
8CG9 @5 :C=G GI=J5BH9 G= @9 B=J95I 89
ACIGG9 F9GH9 65G 9H G= @9G
JhH9A9BHG B9 G9 B9HHC=9BH D5G
6=9B
)9 F?EC >1F5J @1C ED9<9CZ 1CC5J 45
@B?4E9D <5CC9F95<
#=B;9 =B7CFF97H9A9BH @5Jg =@ DF9B8 IB9
H9=BH9 ;F=G9 5J97 @9 H9ADG 9H G9 F5=8=H
9G H57<9G ;F=G 6FIB H57<9G 89
;F5=GG9 D9IJ9BH 5DD5F5jHF9 GIF @9 @=B;9
#9G FgG=GH5B79G 7<5I::5BH9G F=GEI9BH
89 G9BH5FHF9F
)9 F?EC 1F5J ED9<9CZ DB?@ 45 @B?4E9D
<5CC9F95<
%CB F9GD97HI9IL 89 @9BJ=FCBB9A9BH
IB9 ACIGG9 9L79GG=J9 Fg8I=H @5;=H5H=CB
8I @=B;9
(5=@<9B <5C 3?=@1BD9b
=5>DC V @B?4E9DC <5CC9F95<C
5D?E V 1449D96C
q &IJF9N @9 7CIJ9F7@9 8I 657
bDFC8I=HG @9GG=J=9@G
q -9FG9N @9 DFC8I=H @9GG=J=9@ 9HCI
@588=H=:
CAD5FH=A9BH
'FC8I=H @9GG=J=9@ DCIF @9 @5J5;9 DFC8I=H
8gH57<5BH
i
$?EC F?ECB53?==1>4?>1
4ED9<9C5B 45C 4ZD5B75>D5C 
31B 9<C C?>D C@Z391<5=5>D5
3?>XEC @?EB AE5 F?EC ?2D5>95J
45C @5B6?B=1>35C ?@D9=1<5C
1F53 F?DB5 <1F5<9>75 V
381B75=5>D 6B?>D1< )9 F?EC
>ED9<9C5J @1C E> 4ZD5B75>D 
45C @B?2<Z=5C B9CAE5>D 45
CEBF5>9B D5<C AEE> 4Z7175=5>D
5H35CC96 45 =?ECC5 45 @<EC
<?>7E5C CZAE5>35C 45 3I3<5 ?E
E>5 45C @5B6?B=1>35C 45
<1F175
CAD5FH=A9BH 
'FC8I=H 89 B9HHCM5;9 D5F 9L
58CI7=GG9IF @=EI=89 DFC8I=H
5A=8CBB5BH %9 F9AD@=GG9N D5G
5Is89GGIG 8I 6CF8 89 @5 @=;B9 89
A5L=AIA
CAD5FH=A9BH 
CAD5FH=A9BH b DFC8I=H 6@5B7<=GG5BH
@=EI=89 DFC8I=H 6@5B7<=GG5BH b 65G9 89
7<@CF9 DFC8I=H 6@5B7<=GG5BH B9
8g7C@CF5BH D5G %9 F9AD@=GG9N D5G
5Is89GGIG 8I 6CF8 89 @5 @=;B9 89
A5L=AIA
i
*= @58CI7=GG9IF @=EI=89 CI @9
DFC8I=H 5A=8CBB5BH 9GH 7CB79BHFg
CI 7CI@9 gD5=G Ag@5B;9Ns@9 85BG
IB D9I 895I 5J5BH 89 @9 J9FG9F
797= 9ADh7<9 IB9 C6GHFI7H=CB 89
@CF=:=79 89 HFCDsD@9=B
i
(565B=5J <5 213 V @B?4E9DC
<5CC9F95<C ,5E9<<5J 1CCEB5B <5
3?EF5B3<5 5CD 5>D9YB5=5>D
65B=Z
Z3?<?B1D9?>
&(+$
#9G 5;9BHG 8g7C@CF5BHG D9IJ9BH
7CBH9B=F 8I GCI:F9 CI 8I 7<@CF9 9H
:5=F9 EI9 79FH5=B9G D=f79G 89
@5DD5F9=@ G9 7CFFC89FCBH '5F
7CBGgEI9BH B9 H9=;B9N D5G 89
D=f79G 89 @=B;9 85BG 79 @5J9s@=B;9
&B?7B1==5C 5D
6?>3D9?>C
#5 8IFg9 8I 7M7@9 D9IH J5F=9F GI=J5BH @9
7M7@9 Gg@97H=CBBg @5 H9ADgF5HIF9 9H @5
DF9GG=CB 89 @95I 9BHF5BH9 G5 8IF9Hg @5
7<5F;9 89 @=B;9 @9 HMD9 89 H=GGIG 9H @5
8=GH5B79 8I @5J9s@=B;9 D5F F5DDCFH 5I
HIM5I 8g7CI@9A9BH b @g;CIH
#9G J=H9GG9G 89GGCF5;9 A5L=A5@9G 89G
DFC;F5AA9G 8gD9B89BH 8I 7M7@9 'CIF
Fg;@9F @5 J=H9GG9 89GGCF5;9 JC=F D5;9

&B?7B1==5C 45 21C5
"9>75 >?B=1< ?D?> *BYC 381E4
+=GGIG ;F5B8 H9=BH BCFA5@9A9BH 9HCI
:CFH9A9BH H57<gG FH=7@9G FC6IGH9G
FgG=GH5BHG b @IGIF9 7CB:97H=CBBgG 9B
7CHCB CI 9B @=B 8CBH @9G JhH9A9BHG 89
HF5J5=@ 9H @5 @=B;9F=9 89 7CFDG
"9>75 >?B=1< ?D?> 81E4
+=GGIG DCIJ5BH 8gH9=B8F9 @g;fF9A9BH
9HCI BCFA5@9A9BH G5@9G FH=7@9G
FC6IGH9G FgG=GH5BHG b @IGIF9 9B 7CHCB
CI 9B @=B 7CAA9 @9G >95BG @9G HsG<=FHG
9H @9G DC@CG
"9>75 >?B=1< ?D?> B?94
+=GGIG DCIJ5BH 8gH9=B8F9 @g;fF9A9BH
G5@9G FH=7@9G FC6IGH9G FgG=GH5BHG b
@IGIF9 9B 7CHCB CI 9B @=B 8CBH @9G
H9=BH9G D9IJ9BH A=;F9F CI G9GHCAD9F
background

>6B?9CC12<5C 81E4
FH=7@9G 9B 7CHCB DCIJ5BH 8gH9=B8F9
@g;fF9A9BH 9HCI BCFA5@9A9BH G5@9G
=B:FC=GG56@9G 9B @=B 9B H=GGI
GMBH<gH=EI9 CI H=GGI A=LH9 9H
JhH9A9BHG 89 89GGIG -hH9A9BHG
F9EIgF5BH IB9 GgEI9B79 GDg7=5@9 89
@5J5;9 5J97 5;=H5H=CB 9H IB9 J=H9GG9
89GGCF5;9 GDg7=5@9 DCIF A=B=A=G9F @9
:FC=GG5;9 H9@G EI9 @9G 7<9A=G=9FG
7<9A=G9G 9H H56@=9FG
>6B?9CC12<5C B?94
FH=7@9G 9B 7CHCB DCIJ5BH 8gH9=B8F9
@g;fF9A9BH 9HCI BCFA5@9A9BH G5@9G
=B:FC=GG56@9G 9B @=B 9B H=GGI
GMBH<gH=EI9 CI H=GGI A=LH9 9H
JhH9A9BHG 89 89GGIG -hH9A9BHG
F9EIgF5BH IB9 GgEI9B79 GDg7=5@9 89
@5J5;9 5J97 5;=H5H=CB 9H IB9 J=H9GG9
89GGCF5;9 GDg7=5@9 DCIF A=B=A=G9F @9
:FC=GG5;9
&B?7B1==5C C@Z391EH
Z<931DC)?95C
#9G Fg;@5;9G g@=75HG GCBH 89GH=BgG 5IL
D=f79G 89 @=B;9 8g@=75H9G A5=G :57=@9 b
9BHF9H9B=F 9B 7CHCB G5H=B GMBH<gH=EI9G
CI 9B H9LH=@9 Ag@5B;g 9H 5IL JC=@5;9G
DFhHsbsDCFH9F >ID9G 9H 7<9A=G=9FG
'=f79G 9B7CA6F5BH9G 7CAA9 D5F 9L
@9G g7<5FD9G D9IJ9BH G9 @5J9F D9B85BH
79 7M7@9 JI @5;=H5H=CB 9B 8CI79IF 9H IB
F=Be5;9 588=H=CBB9@ 5>CIHg
5IHCA5H=EI9A9BH
#5 A57<=B9 B9GGCF9 D5G 9BHF9 @9G
7M7@9G 89 F=Be5;9
"1F175 V <1 =19>
#9G Fg;@5;9G #5J5;9 b @5 A5=B G9FJ9BH
b @5J9F @9G D=f79G 89 @=B;9 HFfG 8g@=75H9G
A5=G :57=@9G b 9BHF9H9B=F EI=@ :5IH
<56=HI9@@9A9BH @5J9F b @5 A5=B
9G 7M7@9G 89 @5J5;9 CBH gHg
GDg7=5@9A9BH 7CBeIG DCIF HF5=H9F @9G
H9LH=@9G HFfG 9B 8CI79IF
9 7M7@9 D9FA9H 89 @5J9F G5BG F=GEI9G
HCIG @9G @5=B5;9G 5FH=7@9G 9B GC=9 CI
8=J9FG 7CADCFH5BH @9 GMA6C@9 Ì 89
@5J5;9 b @5 A5=B Q5B8 .5G<T GIF
@gH=EI9HH9 89BHF9H=9B
129<<5=5>D 5>61>DC
'CIF H=GGIG H57<gG HFfG G5@9G 9H GIG5BH
D9I H9@G EI9 @9G >95BG DCIF 9B:5BHG
8FCDG +G<=FHG
i
%9 @5J9N D5G @9 @=B;9 AI@H=7C@CF9
5J97 85IHF9G D=f79G 89 @=B;9
*5=@175
M7@9 G9FJ5BH 5I DFgHF5=H9A9BH 89G
5FH=7@9G :CFH9A9BH H57<gG #9 7M7@9 89
HF9AD5;9 8IF9 89IL <9IF9G 9H G9
H9FA=B9 D5F IB 7M7@9 89GGCF5;9 6F9:
,941>75
9HH9 :CB7H=CB D9IH G9FJ=F b J=85B;9F
@95I G5BG EI9 @5 A57<=B9 9GGCF9 9B
AhA9 H9ADG
CC?B175
M7@9 89GGCF5;9 89GH=Bg 5I @=B;9
ACI=@@g @5Jg b @5 A5=B
#5DD5F9=@ J=85B;9 @95I 5J5BH 9H
D9B85BH @9 7M7@9 89GGCF5;9
(Z7<175C 45 <1 D5=@ZB1DEB5
#9G H9ADgF5HIF9G 89 @5J5;9 GI=J5BH9G
GCBH 8=GDCB=6@9G
" * 5F9  °  °
+FfG 7<5I8 <CH  °  °
<5I8 K5FA  °  °
FC=8 7C@8  °  °
,9D5CC5C =1H9=1<5C 45CC?B175
C5<?> <5C @B?7B1==5C
#9 JCM5BH Q$5L GD=B GD998T J=H9GG9
89GGCF5;9 A5L=A5@9 9GH5@@IAg 9B
FCI;9
/-#2& %&
4/523-*.54&
2/(2"--&
 "6;42 ;<?:.9<A<;
 &?2@@6;4 =2?:.;2;A
 ! ( .?2
 Q960.A@
 +61<;42
,9D5CC5 45CC?B175 BZ4E9D5
#9 JCM5BH =B8=75H9IF Q)98I798 GD=BT
9GH 5@@IAg 9B FCI;9
@ B9 G5@@IA9 EI9 G= JCIG 5J9N
Gg@97H=CBBg IB9 J=H9GG9 89GGCF5;9
Fg8I=H9 DCIF HF5=H9F JCHF9 @=B;9 9B
8CI79IF
,9D5CC5C 45CC?B175 =?4ZBZ5C
"2 C<F.;A 6;160.A2B? J2;A92 @=6; @=221K 2@A
.99B:Q 2; ?<B42
/-#2& %&
4/523-*.54&
2/(2"--&
 ".C.42 L 9. :.6;
 )2:=.42
BB[D 3EF5 @<59>5
C1>C 5CC?B175 69>1<
#9 JCM5BH =B8=75H9IF Q%C :=B5@ GD=BT 9GH
5@@IAg 9B FCI;9
'CIF @9 @=B;9 8g@=75H
#95I 89A9IF9 85BG @5 7IJ9 5DFfG @9
89FB=9F F=Be5;9
,H=@=G9N 79 Fg;@5;9 DCIF gJ=H9F @9
:FC=GG5;9 G= JCIG B9 DCIJ9N D5G F9H=F9F
@9 @=B;9 8I H5A6CIF =AAg8=5H9A9BH
5DFfG @5 :=B 8I 7M7@9
&(+$
J5BH 8CIJF=F @9 <I6@CH D9BG9N b
J=85B;9F @95I 9B Gg@97H=CBB5BH
B19> CI )@9> DI=G 9B :5=G5BH
8gA5FF9F @5 A57<=B9
#?496931D9?>C 45C
BZ7<175C
)Z<53D9?> 45 <1 F9D5CC5
45CC?B175 )@9> C5<53D9?>
-CIG DCIJ9N AC8=:=9F @5 J=H9GG9
89GGCF5;9 A5L=A5@9 DFC;F5AAg9
DDIM9N GIF 79 6CIHCB >IGEIb 79 EI9
@9 JCM5BH 7CFF9GDCB85BH 5I Fg;@5;9
8gG=Fg G5@@IA9
Z@1BD 4966ZBZ 5<1I )D1BD
J5BH 89 @5B79F IB DFC;F5AA9 JCIG
DCIJ9N AC8=:=9F @9 BCA6F9 8<9IF9G
85BG @9EI9@ 79@I=s7= 89JF5 8gA5FF9F
DDIM9N GIF 79 6CIHCB #<9IF9 89
8gD5FH Q0:00T 5DD5F5jH b @5::=s
7<5;9 -CIG DCIJ9N F97I@9F 79HH9
<9IF9 89  <9IF9G D5F gH5D9G 8IB9
<9IF9 9B 5DDIM5BH b BCIJ95I GIF @9
6CIHCB 5<1I )D1BD
#9 7CADH9 b B52?EBC 89G <9IF9G
7CAA9B79 =AAg8=5H9A9BH 5DFfG @9
Fg;@5;9 #9G 89IL DC=BHG 7@=;BCH5BHG
G=HIgG 9BHF9 @9G 7<=::F9G @9 G=;B5@9BH
i
-CIG DCIJ9N AC8=:=9F b HCIH
ACA9BH @5 8IFg9 8I 4Z@1BD
4966ZBZ DDIM9N G=AD@9A9BH GIF
@9 6CIHCB 5<1I )D1BD >IGEIb 79
EI9 @5 BCIJ9@@9 8IFg9 G5::=7<9
i
*= JCIG AC8=:=9N CI =BH9FFCAD9N @9
DFC;F5AA9 797= =BH9FFCADH 5IGG=
@5 8IFg9 8I 4Z@1BD 4966ZBZ
#9 DFC;F5AA9 5::=7<9 85BG
7CA6=9B 89 D5=@C )958M =B @9
@=B;9 G9F5 DFhH -CIG 89JF9N
F9Gg@97H=CBB9F @<9IF9 89
4Z=1BB175
background

?ED?>C 45C ?@D9?>C
<1>389=5>D <5138
#CFGEI9 JCIG 5DDIM9N GIF 79 6CIHCB
@5 A57<=B9 5>CIH9 IB 7M7@9 89
6@5B7<=A9BH 5I 7M7@9 Gg@97H=CBBg
#5 8IFg9 8I 7M7@9 89 @5J5;9 5I;A9BH9
9B 7CBGgEI9B79
(9>X175 &<EC (9>C5 &<EC
#CFGEI9 JCIG 5DDIM9N GIF 79 6CIHCB
@5 A57<=B9 5>CIH9 IB 7M7@9 89 F=Be5;9
5I 7M7@9 Gg@97H=CBBg
#5 8IFg9 8I 7M7@9 89 @5J5;9 5I;A9BH9
9B 7CBGgEI9B79
"1F175 9>D5>C96 51FI 4EDI
#CDH=CB BH9BG=: 9GH F97CAA5B8g9
+$'+#$* DCIF @9G JhH9A9BHG HFfG
G5@9G EI= DFgG9BH9GH 89G H57<9G
H9B579G 9H =B7FIGHf9G b 65G9 89
DFCHf=B9G @ %9H '* F97CAA5B8g
8IH=@=G9F @CDH=CB BH9BG=: 5J97 85IHF9G
7M7@9G DCIF @5J9F 89G JhH9A9BHG
BCFA5@9A9BH G5@9G CI D9I G5@9G
#CFGEI9 JCIG 5DDIM9N GIF 79 6CIHCB
@9 @5J9s@=B;9 G9 F9AD@=H G9I@9A9BH 895I
:FC=89 #9 7M7@9 89 @5J5;9 G9 8gFCI@9
8g>b D9B85BH @g7<5I::9A9BH >IGEIb
IB9 H9ADgF5HIF9 8g:=B=9
IFg9 89 @5J5;9 577FI9 9B DFgG9B79
89 7<5F;9G 89 @=B;9 HFfG G5@9G
)97>1< C?>?B5
,B G=;B5@ GCBCF9 =B8=EI9 @9G 8=::gF9BHG
gH5HG 8I DFC;F5AA9 D5F9L 8gD5FH:=B
8I DFC;F5AA9 9H@9G8g:5IHG 89
:CB7H=CBB9A9BH
'CIF 57H=J9F 79 G=;B5@
q *g@97H=CBB9N IB DFC;F5AA9
q DDIM9N GIF 89IL 6CIHCBG
8CDH=CB D5F 9L @5B7<=A9BH 9H
)=Be5;9 D@IG >IGEIb 79 EI9
@5DD5F9=@ gA9HH9 IB G=;B5@ @CB;
'CIF 8gG57H=J9F @9 G=;B5@
q *g@97H=CBB9N IB DFC;F5AA9
q DDIM9N GIF 89IL 6CIHCBG
8CDH=CB 9H A5=BH9B9Ns@9G 5DDIMgG
>IGEIb 79 EI9 @5DD5F9=@ gA9HH9
IB G=;B5@ 7CIFH
i
%57H=J9N B9 8gG57H=J9N D5G IB
G=;B5@ GCBCF9 D9B85BH @9
8gFCI@9A9BH 8IB DFC;F5AA9
,?I1>D 9>4931D5EB
1Eb45CCEC 4E 2?ED?>
L)D1BD&1EC5M
9 JCM5BH JCIG :CIFB=H @9G =B:CFA5H=CBG
GI=J5BH9G
#CFGEI=@ 3<97>?D5 5> B?E75 JCIG
DCIJ9N :5=F9 8gA5FF9F @9
DFC;F5AA9
-CIG DCIJ9N 5>CIH9F 8I @=B;9
#CFGEI=@ F9GH9 7CBGH5AA9BH
5@@IAg 9B B?E75 'FC;F5AA9 9B
7CIFG
-CIG B9 DCIJ9N D5G 5>CIH9F 89
@=B;9 75F @9 <I6@CH 9GH J9FFCI=@@g
DCIF 89G F5=GCBG 89 Gg7IF=Hg
-CIG DCIJ9N 5>CIH9F 8I @=B;9 5DFfG
5JC=F 5DDIMg GIF @9 6CIHCB
)D1BD&1EC5
?>3D9?>C C@Z391<5C
41@D1D9?> 1ED?=1D9AE5 V <1 381B75
ED? "?14 4:ECD
9HH9 :CB7H=CB 5>IGH9 5IHCA5H=EI9A9BH
@5 7CBGCAA5H=CB 895I 9H 8g@97HF=7=Hg
85BG 7<5EI9 DFC;F5AA9 9@@9
8gH9FA=B9 @5 EI5BH=Hg 89 @=B;9 9H @9 HMD9
89 H9LH=@9
9HH9 :CB7H=CB 5 gHg =BHg;Fg9 85BG @5
A57<=B9 9H G9Lg7IH9 5IHCA5H=EI9s
A9BH
@@9 D9FA9H 89 Fg8I=F9 @5
7CBGCAA5H=CB 895I 9H 8g@97HF=7=Hg
D9B85BH @9 @5J5;9 89 D9H=H9G 7<5F;9G
89 @=B;9
ZD53D9?> 45C 381B75C 45 <9>75 =1<
BZ@1BD95C
#9 GMGHfA9 5IHCA5H=EI9 89 8gH97H=CB
89G 7<5F;9G A5@ FgD5FH=9G GCIA9H @9
@=B;9 b D@IG=9IFG GgEI9B79G 89GGCF5;9
DCIF A=9IL @9 FgD5FH=F 85BG @9 H5A6CIF
*= @9 @=B;9 G9GH A5@ FgD5FH= 85BG @9
H5A6CIF @5 A57<=B9 B9 @9GGCF9 D5G
DCIF 89G F5=GCBG 89 Gg7IF=Hg
EBZ5 166938Z5
B F5=GCB 89 79G :CB7H=CBG 9H 85IHF9G
D=@CHg9G D5F @5 7CAA5B89 @5 8IFg9
Fg9@@9 8IB 7M7@9 D9IH J5F=9F
,B9 :C=G EI9 JCIG 5J9N 7<C=G= IB
DFC;F5AA9 @5 8IFg9 DFC656@9
G5::=7<9
#9G 7F=HfF9G GI=J5BHG =B:@I9BH GIF @5
8IFg9 5::=7<g9
#5 7<5F;9 89 @=B;9
#9G H9BH5H=J9G FgDgH=J9G
9::97HIg9G D5F @5 A57<=B9 DCIF
FgD5FH=F IB=:CFAgA9BH @5 7<5F;9
#9G 7M7@9G 89 F=Be5;9 588=H=CBB9@G
9B 75G 89 8g;5;9A9BH 9L79GG=: 89
ACIGG9
*= @5 DF9GG=CB 89 @95I 9GH HFCD
65GG9
*= JCIG 5J9N 7<C=G= 89G CDH=CBG
7CAA9 D5F 9L Q)=Be5;9 '@IGT
i
-CIG JCIG F9B8F9N D9IHshHF9
7CADH9 89G 9::9HG 89 79G 7F=HfF9G
8I :5=H EI9 @5 8IFg9 5::=7<g9
5I;A9BH9 CI 8=A=BI9 D9B85BH @9
8gFCI@9A9BH 8I 7M7@9 *= JCIG
B5J9N Gg@97H=CBBg 5I7IB9 CDH=CB
9H EI5I7IB 89G 7F=HfF9G
GIGA9BH=CBBgG B9 G9 A5B=:9GH9 @5
8IFg9 5::=7<g9 =F5 9B 8=A=BI5BH
>IGEIb @5 :=B 8I 7M7@9
background

"1F175
q &IJF9N @9G FC6=B9HG 895I
q )g;@9N @9 DFC;F5AA5H9IF GIF @5
DFC;F5AA9 JCI@I
q <5F;9N @9 @5J9s@=B;9 DI=G F9:9FA9N
@9 <I6@CH
#9 JCM5BH =B8=75H9IF )D1BD&1EC5
7@=;BCH9 9B FCI;9
q *= Bg79GG5=F9 5DDIM9N GIF @9G
6CIHCBG DCIF 7<C=G=F IB9 CI
D@IG=9IFG CDH=CBG
#9 JCM5BH 8I 6CIHCB Gg@97H=CBBg
G5@@IA9 9B FCI;9 G5BG 7@=;BCH9F
i
*= D5F =B58J9FH5B79 JCIG 5J9N
Gg@97H=CBBg IB9 7CA6=B5=GCB
=B7CFF97H9 @9 JCM5BH 8I 6CIHCB
Gg@97H=CBBg B9 G5@@IA9 D5G
q *= Bg79GG5=F9 AC8=:=9N @5 J=H9GG9
89GGCF5;9 D5F @9 6CIHCB )@9>
)5<53D9?> *g@97H=CB 89 @5 J=H9GG9
89GGCF5;9 >IGEIb 79 EI9
G5@@IA9 @9 JCM5BH 7CFF9GDCB85BH b
@5 J=H9GG9 EI9 JCIG GCI<5=H9N
q *= Bg79GG5=F9 F9DCFH9N @<9IF9 89
4Z=1BB175 DDIM9N GIF @9
6CIHCB 5<1I )D1BD gD5FH 8=::gFg
>IGEIb 79 EI9 G5::=7<9 @9 BCA6F9
8<9IF9G 85BG @9EI9@ JCIG JCI@9N
EI9 @5 A57<=B9 4Z=1BB5
q DDIM9N GIF @9 6CIHCB
)D1BD&1EC5
#9 JCM5BH G5@@IA9 9B FCI;9
@5::=7<5;9 5DD5F5jH @9 8IFg9 89
A5F7<9 8I DFC;F5AA9
Gg@97H=CBBg #9 DFC;F5AA9
8gA5FF9
i
<5EI9 gH5D9 8I DFC;F5AA9 9GH
G=;B5@g9 D5F @5@@IA5;9 89G
JCM5BHG G=HIgG GCIG @5::=7<5;9
background

&5>41>D <5<1F175
i
,E <1 81ED5 D538>939DZ 45 <1
CEC@5>C9?> ZAE9@1>D <1
=1389>5 5<<5 @5ED C5 =5DDB5 V
6BZ=9B ?E DB5=2<5B <?BC 4E
@1CC175 4E>5 F9D5CC5
45CC?B175 21CC5 V E>5 F9D5CC5
Z<5FZ5 5 3?=@?BD5=5>D 5CD
>?B=1< 9< 5CD 4` V E> 4Z31<175
4E D1=2?EB 5D >1 @1C <95E 45
F?EC @BZ?33E@5B
$?EF5<<5 CZ<53D9?> 4E>
@B?7B1==5
q )g;@9N @9 DFC;F5AA5H9IF GIF %66
q )g;@9N @9 DFC;F5AA5H9IF GIF IB
BCIJ95I DFC;F5AA9
#9 JCM5BH 8I 6CIHCB )D1BD&1EC5
7@=;BCH9
q $C8=:=9N @9G Fg;@5;9G G=
Bg79GG5=F9 JC=F b D5FH=F 89 @5 D5;9

q DDIM9N GIF @9 6CIHCB
)D1BD&1EC5
#9 DFC;F5AA9 8gA5FF9
#9 JCM5BH 8I 6CIHCB F9GH9 5@@IAg
9B D9FA5B9B79
(1:?ED 45 <9>75
>D5BBE@D9?> 4E @B?7B1==5
-CIG DCIJ9N F5>CIH9F 8I @=B;9 I@Hgs
F=9IF9A9BH 85BG @9 H5A6CIF 9B F9H=F9F
CI =BH9FFCADF9 @9Lg7IH=CB 8IB DFCs
;F5AA9 b HCIH ACA9BH
i
%CIG 8g7CBG9=@@CBG 89 F5>CIH9F 8I
@=B;9 IB9 :C=G H9FA=Bg9 @5 D<5G9 89
@5J5;9
i
-CIG DCIJ9N F5>CIH9F CI F9H=F9F 8I
@=B;9 H5BH EI9 @9 JCM5BH 8I 6CIHCB
)D1BD&1EC5 7@=;BCH9 9B FCI;9
q DDIM9N GIF @9 6CIHCB
)D1BD&1EC5
#9 JCM5BH 8I 6CIHCB )D1BD&1EC5
7@=;BCH9
q &IJF9N @9 <I6@CH
q >CIH9N)9H=F9N 8I @=B;9
q )9:9FA9N @9 <I6@CH
q DDIM9N GIF @9 6CIHCB
)D1BD&1EC5
#9 DFC;F5AA9 G9 DCIFGI=H
#9 JCM5BH 8I 6CIHCB F9GH9 5@@IAg
9B FCI;9 G5BG 7@=;BCH9F
i
*= @9 JCM5BH 8I 6CIHCB
)D1BD&1EC5 F9GH9 5@@IAg 9B
FCI;9 JCIG DCIJ9N =BH9FFCADF9 @9
DFC;F5AA9 A5=G JCIG B9 DCIJ9N
HCIH9:C=G D5G CIJF=F @9 <I6@CH DCIF
89G EI9GH=CBG 89 Gg7IF=Hg B=J95I
895I H9ADgF5HIF9 CI J=H9GG9
89GGCF5;9 HFCD g@9Jg9G
i
*= @5 J=H9GG9 89GGCF5;9 9GH
9L79GG=J9 @9 JCM5BH 8I 6CIHCB
)D1BD&1EC5 F9GH9 5@@IAg 9B
FCI;9 -CIG DCIJ9N F5>CIH9F 8I
@=B;9 9B AC89 Q'5IG9T D9B85BH
EI9 @9 H5A6CIF B9 HCIFB9 D5G
>>E<1D9?> 4E>
@B?7B1==5 5> 3?EBC
*= JCIG JCI@9N 5FFhH9F IB DFC;F5AA9 9H
F9H=F9F @9 @=B;9
i
*= JCIG 5J9N 5BBI@g IB
DFC;F5AA9 b IB GH589 Cn @9 @=B;9
9GH HFfG 7<5I8 5HH9B89N EI=@ 5=H
F9:FC=8= 5I DC=BH EI9 JCIG DI=GG=9N
HCI7<9F @9 J9FF9 8I <I6@CH G5BG
JCIG 6Fp@9F
q )5A9B9N @9 DFC;F5AA5H9IF GIF
%66
q A9B9N @9 DFC;F5AA5H9IF GIF
B19> CI )@9> -=85B;9 CI
GGCF5;9
i
'CIF <5CC?B175 Gg@97H=CBB9N @5
J=H9GG9 89GGCF5;9 JCI@I9 A5=G
D5G @5 :CB7H=CB $? 9>1< )@9>
*5BG GGCF5;9 :=B5@
q DDIM9N GIF @9 6CIHCB
)D1BD&1EC5
q HH9B89N EI9 @9 DFC;F5AA9 G9
H9FA=B9
q &IJF9N @9 <I6@CH
q g7<5F;9N @9 @=B;9
i
*= JCIG 5J9N 5BBI@g IB DFCs
;F5AA9 b IB GH589 Cn @9 @=B;9 9GH
HFfG 7<5I8 =@ G9 D9IH EI9 @5 DCFH9
8I <I6@CH F9GH9 J9FFCI=@@g9 >IGEIb
79 EI9 @5DD5F9=@ 5=H F9:FC=8=
i
*= JCIG 5J9N 5FFhHg @9 DFC;F5AA9
9B gH9=;B5BH 75FFgA9BH @5DD5F9=@
=@ G9 D9IH EI9 @5 DCFH9 8I <I6@CH F9s
GH9 J9FFCI=@@g9
@BYC <5<1F175
#9 JCM5BH 8I 6CIHCB *H5FH'5IG9
GgH9=BH @5::=7<5;9 5DD5F5jH @5
A9BH=CB Q0:00T
q &IJF9N @9 <I6@CH
q )5A9B9N @9 DFC;F5AA5H9IF GIF
%66
q 9FA9N @9G FC6=B9HG 895I
q )9H=F9N @9 @=B;9
)9 F?EC 1F5J @BZCZ<53D9?>>Z
L$? 69>1< C@9>M )1>C 5CC?B175
69>1<
#9 JCM5BH 8I 6CIHCB )D1BD&1EC5
7@=;BCH9
q )g;@9N @9 DFC;F5AA5H9IF GIF
B19> #9 JCM5BH 8I 6CIHCB
)D1BD&1EC5 7@=;BCH9
q DDIM9N GIF @9 6CIHCB
)D1BD&1EC5
#9 JCM5BH 8I 6CIHCB F9GH9 5@@IAg
9B D9FA5B9B79
q ,B9 :C=G 79 DFC;F5AA9 H9FA=Bg
CIJF9N @9 <I6@CH
q )5A9B9N @9 DFC;F5AA5H9IF GIF
%66
q 9FA9N @9G FC6=B9HG 895I
q )9H=F9N @9 @=B;9
i
@BYC <1F175 <19CC5J <5 8E2<?D
?EF5BD @?EB AE5 <9>DZB95EB 45 <1
=1389>5 @E9CC5 CZ385B
background

$5DD?I175
5D5>DB5D95>
$5DD?I175 4E <1F5b<9>75
d
,(*))b
#$*
d
'&, - +) ) *(,  &
#+) (,
J5BH 89 B9HHCM9F @5DD5F9=@
8g6F5B7<9N HCI>CIFG G5 :=7<9 Ad@9
89 @5 DF=G9 89 7CIF5BH
%9 B9HHCM9N >5A5=G @5DD5F9=@ 5J97
IB B9HHCM9IF GCIG DF9GG=CB
d
,(*))b
#$*
d
'&, - +) ) *(,
/'#&* &%
%IH=@=G9N >5A5=G 89 GC@J5BHG
=B:@5AA56@9G DCIF B9HHCM9F @9
@5J9s@=B;9
&(+$
-gF=:=9N b @C775G=CB @5 DFgG9B79 89
7CFDG gHF5B;9FG D5F 9L D=f79G 89
ACBB5=9 HFCA6CB9G 9H7 9BHF9 @9
H5A6CIF 9H @9 >C=BH 9B 75CIH7<CI7
&%+ ,*( (9CAE5 45
B?E9<<5
$5DD?I175 4E 3?B@C 45 <1@@1B59<
5D 4E 21>451E 45 3?==1>45
*= Bg79GG5=F9
q ,H=@=G9N 89 @95I G5JCBB9IG9G
7<5I89 CI IB 8gH9F;9BH 8CIL 9H
BCB 56F5G=:
q GGIM9N 9H Gg7<9N 5J97 IB 7<=::CB
8CIL
$5DD?I175 4E D1=2?EB
5BG @9 75G Cn 89G H57<9G 89 FCI=@@9
G9F5=9BH 5DD5FI9G 9B F5=GCB 89 7CFDG
gHF5B;9FG F9GHgG 85BG @5DD5F9=@ D5F 9L
D=f79G 89 ACBB5=9 HFCA6CB9G
5=;I=@@9G 7@CIG
q ,H=@=G9N IB DFC8I=H 89 B9HHCM5;9
G5BG 7<@CF9 )9GD97H9N @9G
=BGHFI7H=CBG DI6@=g9G D5F GCB
:56F=75BH %IH=@=G9N >5A5=G 89
H5ADCBG 9B @5=B9 857=9F
$5DD?I175 4E 213 V @B?4E9DC
<5CC9F95<C
*= 89G FgG=8IG 89 DFC8I=H @9GG=J=9@ CI
89G 588=H=:G G9 GCBH 577IAI@gG 85BG @9
657 CI G= 9B7CF9 89 @58CI7=GG9IF
@=EI=89 @9 DFC8I=H 6@5B7<=GG5BH BCBH
D5G gHg 7CAD@fH9A9BH F=B7gG
q &IJF9N @9 7CIJ9F7@9 8I 657
>IGEIb @5 6IHg9 :=B5@9
q +=F9N J9FG @9 <5IH @9 7CAD5FH=A9BH
b 58CI7=GG9IF @=EI=89 DFC8I=H
6@5B7<=GG5BH DI=G F9H=F9Ns@9
q %9HHCM9N @9 7CAD5FH=A9BH b
DFC8I=HG @9GG=J=9@G GCIG @95I 8I
FC6=B9H @ G9 8gACBH9 9B 89IL
D5FH=9G
q )g=BGgF9N @9 657 b DFC8I=HG
@9GG=J=9@G >IGEIb 79 EI=@ 9B7F5BH9
$5DD?I175 45C 3B92<5C 41BB9FZ5
451E
9HH9 CDgF5H=CB G=ADCG9 @CFGEI9 D5G
CI HFfG D9I 895I 5::@I9 85BG @9
@5J9s@=B;9
CAA9B79N D5F GIDDF=A9F @5 DF9GG=CB
Fg;B5BH 85BG @9G HIM5IL :@9L=6@9G
85FF=Jg9 895I
q 9FA9N @9G FC6=B9HG 895I
q A9B9N @9 DFC;F5AA5H9IF GIF IB
DFC;F5AA9 EI9@7CBEI9 G5I:
)@9> GGCF5;9 CI B19>
-=85B;9
q DDIM9N GIF @9 6CIHCB
)D1BD&1EC5 9H 5HH9B89N
5DDFCL=A5H=J9A9BH IB9 A=BIH9
q )5A9B9N @9 DFC;F5AA5H9IF GIF
%66
$5DD?I175 4E45C 3B92<5C
ZAE9@1>D <5 B?29>5D 451E
&DgF5H=CBG b Fg5@=G9F GIF @9 FC6=B9H
895I 7<5I89 9H 79@I= 895I :FC=89
q g6F5B7<9N @9 HIM5I :@9L=6@9 8I
FC6=B9H
q )=B79N @9 7F=6@9 GCIG @95I 8I
FC6=B9H
q )96F5B7<9N @9 HIM5I :@9L=6@9
$5DD?I175 45C 3B92<5C ZAE9@1>D
<5 <1F5b<9>75
&DgF5H=CBG b Fg5@=G9F GIF @9G F577CF8G
895I 7<5I89 9H 895I :FC=89
q g6F5B7<9N @9 HIM5I :@9L=6@9 G=HIg
5I 8CG 8I @5J9s@=B;9
q LHF5M9N @9 7F=6@9 DI=G F=B79Ns@9
GCIG @95I 8I FC6=B9H
q BGgF9N @9 7F=6@9 DI=G F96F5B7<9N @9
HIM5I
q )CIJF9N @9G FC6=B9HG 895I 9H
JgF=:=9N EI9 @95I B9 :I=H D5G 5I
B=J95I 89G F577CF8G *= 9@@9 :I=H
JgF=:=9N G= JCIG 5J9N 7CFF97H9A9BH
F9A=G @9 7F=6@9 9B D@579
background

q )9:9FA9N @9G FC6=B9HG 895I
?>C59<C 45 >5DD?I175
%CIG JCIG F97CAA5B8CBG 89 :5=F9
7=F7I@9F 85BG @9 @5J9@=B;9 IB9 D9H=H9
EI5BH=Hg 89 >5J9@ b IG5;9 AgB5;9F HCIG
@9G HFC=G AC=G
5=H9G A5F7<9F @9 @5J9@=B;9 89 @5 :5eCB
GI=J5BH9 G5BG A9HHF9 89 @=B;9
q -9FG9N IB9 H5GG9 89 >5J9@ 85BG @9
7CAD5FH=A9BH DCIF 8gH9F;9BH 8I
657 b DFC8I=H @9GG=J=9@
q Lg7IH9N @9 DFC;F5AA9
7CI@9IFG7CHCB 7<5I8
ZD1BDB175 4E <1F5b<9>75
&(+$
#9G DFC8I=HG 89 8gH5FHF5;9
7CBH=9BB9BH 89G 57=89G GIG79DH=6@9G
85HH5EI9F 79FH5=B9G D=f79G 8I
@5J9s@=B;9 9H 89 8g7C@CF9F @9 @=B;9
7CB8=H=CB 8IH=@=G9F @9 HMD9 7CFF97H 89
DFC8I=H @9GG=J=9@ JCIG B5IF9N D5G
69GC=B 89 8gH5FHF9F @9 @5J9s@=B;9
*= 89G H57<9G 6@5B7<9G 89 75@75=F9 CI
A=BgF5@9G 5DD5F5=GG9BH b@=BHgF=9IF 8I
H5A6CIF 8I @5J9s@=B;9 JCIG DCIFF9N
IH=@=G9F IB DFC8I=H 8gH5FHF5BH DCIF @9G
9B@9J9F
*= HCIH9:C=G IB 8gH5FHF5;9 G=ADCG9
J9I=@@9N GI=JF9 @9G =BGHFI7H=CBG DI6@=g9G
D5F @9 :56F=75BH 8I DFC8I=H 89
8gH5FHF5;9
background

(5=Z495B C?9b=[=5 1EH @5D9D5C @1>>5C
d
,(*))b
#$*
d
&%+ ,*( ()'+  %
"*('+
#9G FgD5F5H=CB B9 DCIFFCBH hHF9
Fg5@=Gg9G EI9 D5F IB H97<B=7=9B
5;Fgg
*= 89G FgD5F5H=CBG G=ADCG9BH CI G=
A5@;Fg @9 H56@95I 7=s89GGCIG JCIG B9
D5FJ9B9N D5G b GIDDF=A9F @9 8g:5IH D5F
JCIGsAhA9
q )5A9B9N @9 DFC;F5AA5H9IF GIF
%66
q g6F5B7<9N @9 @5J9s@=B;9 89 @5
DF=G9 89 7CIF5BH
q )9:9FA9N @9G FC6=B9HG 895I
q DD9@9N @9 G9FJ=79 5DFfGsJ9BH9
F9DCFH9NsJCIG b @5 D5;9 
>2".(&-&.4
"53& 0/33*#,& &-=%&
:=<@@6/92 1<BC?6? 92 5B/9<A
+<B@ .C2G @Q920A6<;;Q J$< 36;.9 @=6;K
(.;@2@@<?.42 36;.9
(Q920A6<;;2G 2"*. <B 0*. +61.;42 <B @@<?.42
<B=B?2 12 0<B?.;A *; =?<4?.::2 6;A2??<:=B ?2=?2;1 B;2 3<6@ 92
0<B?.;A ?2C2;B (6 C<B@ C<B92G 2;92C2? 92 96;42
=2;1.;A 9. 0<B=B?2 12 0<B?.;A .==292G 92 (+ C<6?
=.42
&?<4?.::2 2; 0<B?@ 2A<B 5B/9<A C2??<B699Q =<B?
12@ ?.6@<;@ 12 @Q0B?6AQ
AA2;12G 9. 36; 1B =?<4?.::2 C<6? =.42 
6052 :N92 6;0<??20A2:2;A <B =.@ /?.;05Q2 (B==?6:2G[2; 9. 0.B@2
&?<4?.::.A2B? ?.:2;Q @B? '' .C.;A 9. 36; 1B
=?<4?.::2
(Q920A6<;;2G B; =?<4?.::2
:=<@@6/92 1<BC?6? 92 5B/9<A :R:2 2;
QA264;.;A =B6@ ?.99B:.;A 9.==.?269
&<B? 12@ ?.6@<;@ 12 @Q0B?6AQ 92 5B/9<A 12:2B?2
C2??<B699Q 0.? 92 ;6C2.B 12.B 9. A2:=Q?.AB?2 2A 9.
C6A2@@2 @<;A A?<= Q92CQ@
+<6? J7<BA2? 1B 96;42 ;;B9.A6<; 1B; =?<4?.::2
2; 0<B?@K =.42
"2@ C<F.;A@ 12 0<::.;12 ;2
@.99B:2;A =.@
*; 3B@6/92 2@A 4?699Q
'2:=9.02G 92 3B@6/92 =?<AQ42.;A 92 06?0B6A Q920A?6>B2
>B6 .96:2;A2 9.==.?269
@.99B:2;A =.@
==292G 92 @2?C602 .=?P@[C2;A2 @6 92 1Q3.BA =2?@6@A2
<B=B?2 12 0<B?.;A "2 =?<4?.::2 6;A2??<:=B ?2=?2;1?. B;2 3<6@ 92
0<B?.;A ?2C2;B (6 C<B@ C<B92G 2;92C2? 92 96;42
=2;1.;A 9. 0<B=B?2 12 0<B?.;A .==292G 92 (+ C<6?
=.42 
"2 =?<4?.::2 ;2 1Q:.??2 =.@
92C<F.;A 12 4"24"53& 0964;<A2
+<B@ ;.C2G =.@ .==BFQ @B? 92 /<BA<; (A.?A&.B@2 ==BF2G @B? 92 /<BA<; 4"24"53&
"2 =?<4?.::2 ;2 1Q:.??2 =.@
92 C<F.;A J'*.*3)&%K 6; 2@A .99B:Q 2A
9. :2;A6<; JK .==.?.TA L
+<B@ ;.C2G =.@ 32?:Q 92 5B/9<A 0<??20A2:2;A
+Q?6362G @6 1B 96;42 2@A 0<6;0Q 2;A?2 92 5B/9<A 2A 92
7<6;A
92 C<F.;A J'*.*3)&%K 6; 2@A .99B:Q 2A
9. :2;A6<; JK .==.?.TA L
9.33605.42
2?:2G 92 5B/9<A B; J0960K 1<6A @2 3.6?2 2;A2;1?2
"2 =?<4?.::2 =<B?@B6A
:=<@@6/92 12 05<6@6? 9. C6A2@@2
12@@<?.42
@@<?.42 1Q7L 2; 0<B?@ =2;1.;A B; 0F092
12@@<?.42 6:=<@@6/92 12 05.;42? 9. C6A2@@2
(Q920A6<;;2G 9. C6A2@@2 12@@<?.42 .C.;A 12@@<?2?
12@@<?.42
&?<4?.::.A2B? ?Q49Q @B? 2"*. +61.;42 0F092 12
C61.;42 6:=<@@6/92 .C20 02 =?<4?.::2
(6 ;Q02@@.6?2 @Q920A6<;;2G B; .BA?2 =?<4?.::2
'Q@61B@ 12 =?<1B6A 92@@6C629 1.;@ 92
/.0
"2 =?<1B6A 92@@6C629 QA.6A 5B:612 <B 4?B:292BE
$2AA<F2G 2A @Q052G 92 /.0 L =?<1B6A@ 92@@6C629@ C<6?
=.42 
/.0
(2?C2G[C<B@ 1B 0.=B05<; 12 9. /<BA26992 12 =?<1B6A
92@@6C629 =<B? 1<@2? 02 12?;62?
"2.B ;2;A?2 =.@ 1.;@ 9. :.056;2 <B
;2 =Q;PA?2 =.@ 1.;@ 9. 0BC2
"2 C<F.;A J30*.K 2@@<?.42 2@A .99B:Q
2A 9. :2;A6<; JK <B JK
'</6;2A@ 12.B =.@ <BC2?A@ %BC?2G 92@ ?</6;2A@ 12.B =B6@ .==BF2G @B? 92
/<BA<; 4"24"53&
"2 =?<4?.::2 =<B?@B6A
"2 C<F.;A J30*.K 2@@<?.42 2@A .99B:Q
2A 9. :2;A6<; JK <B JK
0964;<A2 L 9.33605.42
)BF.B 392E6/92 1.96:2;A.A6<; =96Q <B 0<6;0Q (B==?6:2G[2; 9. 0.B@2
0964;<A2 L 9.33605.42
?6/92@ 12 369A?.42 </@A?BQ@ 1.;@ 92 ABF.B 392E6/92
1.96:2;A.A6<;
$2AA<F2G 92@ 0?6/92@ 1.??6CQ2 12.B C<6? =.42
&?2@@6<; 12 92.B A?<= 3.6/92 (B==?6:2G[2; 9. 0.B@2
background

>2".(&-&.4 &-=%&"53& 0/33*#,&
.B 6;C6@6/92 1.;@ 92 A.:/<B? 2 ;2@A =.@ B; 1Q3.BA
"2 ;6C2.B 12.B @2 @6AB2 2;[12@@<B@ 12 9. =.?A62 C6@6/92 1B A.:/<B?
"2 C<F.;A 6;160.A2B? H?6;02? 2@A
.99B:Q 2A 92 0<12 H 0964;<A2 L
9.33605.42 9. 0BC2 ;2 0<;A2;.;A
.9<?@ =9B@ 12.B
#<B@@2 A?<= <B =<:=2 /<B05Q "<?@ 12 C<@ =?<05.6;2@ 92@@6C2@ BA696@2G :<6;@
12 1QA2?42;A "2@ 1QA2?42;A@ @=Q06.92:2;A
0<;OB@ =<B? C<A?2 9.C296;42 B9A?.=2?3<?:.;A
=?<1B6@2;A :<6;@ 112 :<B@@2 92@ 92AA?2@ H
364B?2;A @B? 92:/.99.42 $2AA<F2G 92 0<;1B6A 12
C61.;42 12.B 2A<B 92392E6/92 12 C61.;42 12.B
'.:2;2G 92=?<4?.::.A2B? @B? J''K =B6@
3.6A2@ ?21Q:.??2? 92 =?<4?.::2 2"*.
+61.;42
2 92.B 0<B92 @<B@ 9. :.056;2
"2 3692A.42 1B ?.00<?1 Q>B6=.;A 92 ABF.B 392E6/92
1.96:2;A.A6<; ;2@A =.@ @B336@.::2;A @2??Q
'2@@2??2G 92 3692A.42 1B ?.00<?1
B6A2 1.;@ 92 ABF.B 392E6/92 12 C61.;42 '2:=9.02G 92 ABF.B 392E6/92 12 C61.;42
#<B@@2 @<?A.;A =.? 92 /.0 L
=?<1B6A@ 92@@6C629@
<::2 0<B@ .C2G BA696@Q A?<= 12 92@@6C2 <B /62;
12 9. 92@@6C2 ;<; 5<:<9<4BQ2  9. =<:=2 ;.
=.@ =B 2;92C2? 9. :<B@@2
+2?@2G 0B6992?Q2 L @<B=2 1.1<B06@@.;A 96>B612
1.;@ =6;A2  96A?2 12.B =B6@ C2?@2G
02:Q9.;42 1.;@ 92 0<:=.?A6:2;A  1B /.0
=.@ =B 2;92C2? 9. :<B@@2
"<?@ 12 C<@ =?<05.6;2@ 92@@6C2@ BA696@2G :<6;@
12 1QA2?42;A "2@ 1QA2?42;A@ @=Q06.92:2;A
0<;OB@ =<B? C<A?2 9.C296;42 B9A?.=2?3<?:.;A
=?<1B6@2;A :<6;@ 112 :<B@@2 92@ 92AA?2@ H
364B?2;A @B? 92:/.99.42
@@<?.42@ ?Q=QA6A63@ 2 ;2@A =.@ B; 1Q3.BA
"2 06?0B6A 1Q>B696/?.42 12 9. 05.?42 A2;A2 12
?Q=.?A6? B;63<?:Q:2;A 92 96;42 2A 9.;02 1.;@ 02
/BA =9B@62B?@ @Q>B2;02@ 12@@<?.42
5.?42G A<B7<B?@ 92 A.:/<B? 2; :Q9.;42.;A
92@4?.;12@ &4 =2A6A2@ =6P02@ 12 96;42
"2 96;42 ;. =.@ QAQ 2@@<?Q 2 4?.;12@ =6P02@ 12 96;42 @2 @<;A 2:/?<B699Q2@
2A 9. :.056;2 ;2@A =.@ =.?C2;B2 L 92@ ?Q=.?A6?
B;63<?:Q:2;A 1.;@ 92 A.:/<B? &<B? 12@
?.6@<;@ 12 @Q0B?6AQ 2992 . .BA<:.A6>B2:2;A
@B==?6:Q 92 0F092 12@@<?.42 .BA<:.A6>B2
5.?42G A<B7<B?@ 92 A.:/<B? 2; :Q9.;42.;A
92@4?.;12@ &4 =2A6A2@ =6P02@ 12 96;42
99<;42:2;A 12 9. 1B?Q2 1B
=?<4?.::2
2 ;2@A =.@ B; 1Q3.BA
". 3<;0A6<; 1QA20A?602 12 :<B@@2 . .7<BAQ
B;0F092 12 ?6;O.42 @B==9Q:2;A.6?2 =<B? ?Q1B6?2
9.>B.;A6AQ 12 :<B@@2
". 3<6@ @B6C.;A2 C2?@2G B;2 >B.;A6AQ .1Q>B.A2
12 =?<1B6A 92@@6C629
2 ;2@A =.@ B; 1Q3.BA
"2 @F@AP:2 1Q>B696/?.42 12 9. 05.?42 12 96;42
A2;A2 12 :62BE ?Q=.?A6? 92 96;42 1.;@ 92 A.:/<B?
2A 9.;02 1.;@ 02 /BA =9B@62B?@ @Q>B2;02@
12@@<?.42
5.?42G A<B7<B?@ 92 A.:/<B? 2; :Q9.;42.;A
92@4?.;12@ &4 =2A6A2@ =6P02@ 12 96;42
"2 96;42 QA.6A =9B@ @.92 >B2 C<B@ ;2 92 =2;@62G (Q920A6<;;2G B; =?<4?.::2 .==?<=?6Q
<B
*A696@2G &"68 %548 ".C.42 ;A2;@63 0<::2
<=A6<; @B==9Q:2;A.6?2
&.@ .@@2G 12 =?<1B6A 92@@6C629 7<BA2G 1B =?<1B6A 92@@6C629 2; ?2@=20A.;A
92@@=Q06360.A6<;@ 1B 3./?60.;A
background

>2".(&-&.4 &-=%&"53& 0/33*#,&
&?Q@2;02 12 ?Q@61B@ 12 =?<1B6A
92@@6C629 @B? 92 96;42
2?A.6;2@ =?<1B6A@ 92@@6C629@ @.;@ =5<@=5.A2
0<;A62;;2;A 12@ ?Q@61B@ 6;@<9B/92@ 1.;@ 92.B
>B6 @2 :.;632@A2;A @<B@ 3<?:2 12 A.052@ 09.6?2@
@B? 92 96;42
?<@@2G 02@ A.052@ B;2 3<6@ 92 96;42 @20
'Q@61B@ 4?6@ @B? 92 96;42 00B:B9.A6<; 12 @.96@@B?2@ 1B2@ L 12@
=<::.12@ :.A6P?2@ 4?.@@2@ <B 5B692@
+2?@2G 9. >B.;A6AQ :.E6:.92 12 =?<1B6A 92@@6C629
=B6@ @Q920A6<;;2G 9. =9B@ 5.BA2 A2:=Q?.AB?2
.1:6@2 =.? 02 96;42
". :.056;2 3?Q:6A <B A?2:/92
9<?@>B2992 =.@@2 1B;2 C6A2@@2
12@@<?.42 /.@@2 L B;2 C6A2@@2
Q92CQ2
". @B@=2;@6<; 1B A.:/<B? =2BA @2 1Q0.92?
=2;1.;A 9.00Q9Q?.A6<; 9 ;2 @.46A =.@ 1B;
1Q3.BA
&<B? :6;6:6@2? 02A 2332A :Q9.;42G 92@ =2A6A2@ 2A
4?.;12@ =6f79G 89 @=B;9 85BG IB9 7<5F;9
89 @=B;9
*= JCIG B9 D5FJ9B9N D5G b GIDDF=A9F @9 8g:5IH A5@;Fg @9G 7CBG9=@G :=;IF5BH 85BG @9 H56@95I 7=s89GGIG 5HH9B89N G97CB89G
gH9=;B9N @5DD5F9=@ F5@@IA9Ns@9 Gg@97H=CBB9N @9 DFC;F5AA9 9H :5=H9Gs@9 F98gA5FF9F
*= @9 8g:5IH D9FG=GH9 5DD9@9N @9 G9FJ=79 5DFfGsJ9BH9 JC=F D5;9 
)5BF935 @BYCb,5>D5 ),
9 @5J9s@=B;9 B9 89A5B89 5I7IB
9BHF9H=9B D5FH=7I@=9F 5IHF9 EI9 @9G
CDgF5H=CBG 89 B9HHCM5;9 9H 9BHF9H=9B
DFg7g89AA9BH A9BH=CBBg9G *= JCHF9
@5J9s@=B;9 JCIG 75IG9 89G DFC6@fA9G
F9DCFH9NsJCIG 5I 7CBH9BI 89 @5 D5;9
 5J5BH 85DD9@9F @9 *-
*= 89G CDgF5H=CBG 89 *- G5JfF9BH
Bg79GG5=F9G J9I=@@9N 7CBH57H9F JCHF9
=BGH5@@5H9IF CI IB DC=BH 89 *- 5;Fgg
%9 H9BH9N D5G 89 FgD5F9F @5DD5F9=@ D5F
JCG DFCDF9G ACM9BG +CIH9 FgD5F5H=CB
577CAD@=9 D5F 89G D9FGCBB9G BCB
5IHCF=Gg9G F=GEI9 89 JCIG :5=F9 D9F8F9
@9 6gBg:=79 89 @5 ;5F5BH=9
*= @9 @5J9s@=B;9 JCIG 75IG9 IB DFC6@fA9
EI9@7CBEI9 9H G= @9G DF9GH5H=CBG
F9eI9G B9 JCIG CBH D5G G5H=G:5=H
q CAA9B79N GJD D5F 7CBH57H9F
JCHF9 =BGH5@@5H9IF CI @9BHF9DF=G9 89
*- 5;Fgg9 G=HIg9 85BG JCHF9
Fg;=CB 9H 9LD@=EI9Ns@I= @9G F5=GCBG
89 JCHF9 Ag7CBH9BH9A9BH 97=
GI::=F5 BCFA5@9A9BH b FgGCI8F9 @9
DFC6@fA9
q *= @9 DFC6@fA9 D9FG=GH9 5DFfG 5JC=F
7C@@56CFg 5J97 JCHF9 =BGH5@@5H9IF CI
5J97 @9 H97<B=7=9B 8I *-
:5=H9Gs@9 BCIG G5JC=F GC=H 9B BCIG
g7F=J5BH b @58F9GG9 GI=J5BH9
* CA9 DD@=5B79G
 $7 5889B J9
IBH=B;HCB 957< # 
,*
GC=H 9B BCIG 5DD9@5BH 5I BIAgFC
GI=J5BH
ss
*= JCIG BCIG g7F=J9N BCI6@=9N D5G 89
>C=B8F9 *= JCIG BCIG 5DD9@9N
BCI6@=9N D5G 89 DFgD5F9F @9G
=B:CFA5H=CBG GI=J5BH9G
#9 BIAgFC 8I AC8f@9
#9 BIAgFC 89 GgF=9
#5 85H9 857<5H 8CF=;=B9
#5 85H9 85DD5F=H=CB 8I DFC6@fA9
,B9 89G7F=DH=CB 8I DFC6@fA9
*= JCIG BCIG g7F=J9N J9I=@@9N >C=B8F9
IB9 7CD=9 89 @5 :57HIF9 9H BCIG =B8=EI9F
IB9 BIAgFC 89 Hg@gD<CB9 Cn BCIG
DCIJCBG JCIG >C=B8F9 85BG @5 >CIFBg9
-CIG HFCIJ9F9N @9 BIAgFC 8I AC8f@9 9H
@9 BIAgFC 89 GgF=9 GIF @5 D@5EI9
G=;B5@gH=EI9 9HH9 D@5EI9 G9 HFCIJ9 GIF
@5 D5FH=9 8I 75DCH 8I @5J9s@=B;9 J=G=6@9
IB9 :C=G @9 <I6@CH CIJ9FH
background

$%$  ($* "$#* ) &(%+*)
5 AE5 3?EFB5 35DD5 71B1>D95 5D V
AE9 5<<5 C1@@<9AE5
#5 ;5F5BH=9 @=A=Hg9 :CIFB=9 D5F *
CA9 DD@=5B79G 2CG7<3 85BG @9
DFgG9BH gBCIB7g 89 ;5F5BH=9 @=A=Hg9
89G DFC8I=HG G5DD@=EI9 IB=EI9A9BH
b5IL CG7< GG9B79 K5G<9F
@9DFC8I=H EI= JCIG 9GH J9B8I GC=H @9
DF9A=9F 57<9H9IF b @IH=@=G9F b @5
7CB8=H=CB EI9 @9 DFC8I=H 5=H @9 DFC8I=H 5=H
gHg 57<9Hg  DCIF JCHF9 IG5;9
8CA9GH=EI9 BCFA5@ BCB 7CAA9F7=5@
9H EI=@ 5=H 9::97H=J9A9BH 9B HCIH H9ADG
gHg IH=@=Gg IB=EI9A9BH b 89G :=BG
8CA9GH=EI9G BCFA5@9G  b @gH5H B9I:
5I 8gH5=@ 9H BCB 7CAA9 IB AC8g@9
89LDCG=H=CB OH9 EI9@ CI 5M5BH 8g>b
gHg F9HCIFBg GH BCB b 89G :=BG 89
F9J9BH9 CI 8IH=@=G5H=CB 7CAA9F7=5@9 9H
 5IL H5HG,B=G CI 5I 5B585 9H
EI=@ GC=H 9B HCIH H9ADG 89A9IFg 85BG
@9 D5MG 89 @b7<5H =B=H=5@ #9G ;5F5BH=9G
gBCB79gG 85BG @9G DFgG9BH9G
G5DD@=EI9BH IB=EI9A9BH b @57<9H9IF
=B=H=5@ 8I DFC8I=H 9H B9 GCBH D5G
79GG=6@9G
i
GGIF9NJCIG 89 F9HCIFB9F JCHF9
75FH9 89BF9;9GHF5A9BH 69=B EI9
79 B9 GC=H D5G Bg79GG5=F9 89 @9
:5=F9 DCIF EI9 @5 ;I5F5BH=9 GC=H
J5@=89 79GH @5 A9=@9IF9 :5eCB 89
D9FA9HH9 b CG7< 89 JCIG
=B:CFA9F 85BG @gJ9BHI5@=Hg
=ADFC56@9 8IB 5J=G 89 Gg7I=FHg CI
8IB F5DD9@ 89 DFC8I=H
EBZ5 45 <1 71B1>D95 CG7< ;5F5BH=H
EI9 @9 DFC8I=H 9GH 9L9ADH 89 J=79 89
A5HgF=9@ CI 89 A5@:5eCB D9B85BH IB9
DgF=C89 89  >CIFG b 7CADH9F 89 @5
85H9 @57<5H 9HH9 8IFg9 7CAA9B79 b
7CIF=F b @5 85H9 89 @57<5H GH B9 8C=H D5G
DCIF EI9@EI9 F5=GCB EI9 79 GC=H hHF9
8=::gFg9 :5=F9 @C6>9H 89 8FC=HG hHF9
DFC@=B;g9 CI =BH9FFCADI9
,?DB5 B53?EBC 5H3<EC596 C5 <9>9D5 V <1
BY@1B1D9?> ?E 1E B5=@<135=5>D
'9B85BH @5 DgF=C89 89 @5 DFgG9BH9
;5F5BH=9 CG7< CI @IB 89 G9G
:CIFB=GG9IFG 89 G9FJ=79 5DFgGJ9BH9
5;FggG FgD5F9F5 JCHF9 DFC8I=H G5BG :F5=G
GCIG FgG9FJ9 89 79FH5=B9G F9GHF=7H=CBG
DFg7=Gg9G 85BG @9G DFgG9BH9G G=@
8gACBHFg EI9 @5 :56F=75H=CB 89 JCHF9
DFC8I=H DFgG9BH9 IB J=79 89 A5HgF9=@ CI
89 A5@:5eCB *= 89G H9BH5H=J9G
F5=GCBB56@9G 89 FgD5F5H=CB 8I DFC8I=H
CBH gHg :5=H9G G5BG GI77gG 5@CFG CG7<
F9AD@579F5 JCHF9 DFC8I=H 89G AC8g@9G
5Ag@=CFgG D9IJ9BH JCIG hHF9 C::9FHG 5I
;Fg 56GC@I 89 CG7< ACM9BB5BH 89G
:F5=G GIDD@gA9BH5=F9G +CIH9G @9G
D=g79G 9H HCIG @9G 7CADCG5BHG 9B@9JgG
89J=9BB9BH @5 DFCDF=gHg 89 CG7< 5 GCB
;F9 56GC@I +CIH9G @9G D=g79G
F9AD@57g9G 9HCI FgD5Fg9G GCBH
5GG=A=@56@9G b @5 D=g79 8CF=;=B9 5IL
:=BG 89 @5 DFgG9BH9 ;5F5BH=9 79HH9
89FB=gF9 BgH5BH D5G DFC@=B;g9 9B 79
EI= 7CB79FB9 89 H9@@9G D=g79G
#IB=EI9 F9GDCBG=6=@=Hg 89 CG7<
DFgJI9 5IL DFgG9BH9G 7CBG=GH9 b
FgD5F9F IB DFC8I=H 7CADCFH5BH IB J=79
89 :56F=75H=CB IB=EI9A9BH 9B 5M5BH
F97CIFG b IB :CIFB=GG9IF 89 G9FJ=79
5DFgGJ9BH9 5;Fgg 89 CG7< D9B85BH
@9G <9IF9G BCFA5@9G 8CIJ9FHIF9 'CIF
89G EI9GH=CBG 89 Gg7IF=Hg 9H DCIF gJ=H9F
HCIH 8CAA5;9 A5HgF=9@ CG7< JCIG
F977CA5B89 :CFH9A9BH 89 B9 D5G
H9BH9F 89 FgD5F9F JCIGAhA9 @9
DFC8I=H CI 85J=CF F97CIFG 5 IB
FgD5F5H9IF BCB 5;Fgg CG7< B9 G9F5
D5G F9GDCBG56@9 89G FgD5F5H=CBG CI 8I
HF5J=5@ 9::97HIfG D5F IB :CIFB=GG9IF 89
G9FJ=79 BCB 5;Fgg *= JCIG 7<C=G=GG9N
89 89A5B89Fb IB9 D9FGCBB9 EI= B9GH
D5G IB :CIFB=GG9IF 89 G9FJ=79
5DFgGJ9BH9 89 HF5J5=@@9F GIF JCHF9
DFC8I=H # ')\*%+ )%+ 
- %) ,+&$+ (,$%+
%,## + *%*+ #9G
:CIFB=GG9IFG 89 G9FJ=79 5DFgGJ9BH9
5;FggG GCBH 89G D9FGCBB9G CI 89G
GC7=gHgG 5M5BH F9eI IB9 :CFA5H=CB
GDg7=5@9 DCIF @9G DFC8I=HG 89 CG7< 9H
EI= >CI=GG9BH 89 @5J=G 89 CG7< 8IB9
FgDIH5H=CB GIDgF=9IF9 9B A5H=gF9 89
G9FJ=79 b @5 7@=9BHg@9 9H 89
7CADgH9B79G H97<B=EI9G J9I=@@9N BCH9F
EI=@ G5;=H 89BH=HgG =B8gD9B85BHG 9H
BCB 89 A5B85H=5F9G 85GGC7=fG 89
A9A6F9G 8I ;FCID9 CI 89
F9DFgG9BH5BHG 89 CG7< $5@;Fg 79 EI=
DFg7g89 CG7< B5GGIA9F5 5I7IB9
F9GDCBG56=@=Hf b @9;5F8 8I DFC8I=H G=@
G9 HFCIJ9 85BG IB9 Fg;=CB g@C=;Bg b
D@IG 89  A=@9G 8IB :CIFB=GG9IF 89
G9FJ=79 5DFgGJ9BH9 5;Fgg CI G=@ 9GH
F5=GCBB56@9A9BH =B5779GG=6@9 G=@ G9
HFCIJ9 85BG IB @=9I IB A=@=9I CI IB
9BJ=FCBA9BH 85B;9F9IL CI HF5jHF9
5IEI9@ 75G G= JCIG @9 89A5B89N
CG7< D5=9F5 EI5B8 AhA9 @5
A5=B8C9IJF9 9H @9G D=f79G 9H 9L
Dg8=9F5 @9G D=f79G 5I :CIFB=GG9IF 89
G9FJ=79 5DFgGJ9BH9 5;Fgg @9 D@IG
DFC7<9 A5=G JCIG 89A9IF9FN EI5B8
AhA9 5BH=fF9A9BH F9GDCBG56@9 89G
:F5=G 89 8gD@579A9BH CI 5IHF9G :F5=G
GDg7=5IL 89A5B8gG D5F @5 GC7=gHg EI=
:CIFA=H @9 G9FJ=79 5DFgGJ9BH9 85BG
@<MDCH<fG9 Cn 9@@9 5779DH9 89 :5=F9 IB
8gD@579A9BH DCIF 9::97HI9F @5
FgD5F5H=CB
&B?49ED AE9 >5CD @<EC 3?EF5BD @1B <1
71B1>D95 CG7< B9GH D5G H9BI9 9B
8FC=H CI 5IHF9A9BH 89 JCIG 7CBG9BH=F
EIC= EI9 79 GC=H M 7CADF=G 89G
FgD5F5H=CBG 89G H5F=:G DFCDCFH=CBB9@G
CI IB F9AD@579A9BH 89 DFC8I=H 5DFgG
@9LD=F5H=CB 89 @5 DFgG9BH9 ;5F5BH=9
H3<EC9?>C 45 <1 71B1>D95 #5
;5F5BH=9 8g7F=H9 5IL DFgG9BH9G 9L7@IH
HCIG @9G 8g:5IHG CI 8CAA5;9G EI= B9
FgGI@H9BH D5G 89 @5 :5IH9 8=F97H9 89
CG7< M 7CADF=G BCH5AA9BH IB CI
D@IG=9IFG 89G g@gA9BHG GI=J5BHG 
IH=@=G5H=CB 8I DFC8I=H b HCIH9 5IHF9 :=B
EI9 GCB IG5;9 BCFA5@ <56=HI9@ 9H
DFgJI M 7CADF=G BCH5AA9BH HCIH9
:CFA9 8IG5;9 7CAA9F7=5@ @IG5;9 CI
@9BHF9DCG5;9 b @9LHgF=9IF 89 DFC8I=HG
89J5BH hHF9 IH=@=GgG b @=BHgF=9IF
@IH=@=G5H=CB 8I DFC8I=H 7CB>C=BH9A9BH
5J97 89G 5gFCB9:G CI 89G 65H95IL 
@=B7CB8I=H9 JC@CBH5=F9 @5 Bg;@=;9B79 @5
A5IJ5=G9 GH=@=G5H=CB @IH=@=G5H=CB
56IG=J9 @9G 577=89BH9G @5 Bg;@=;9B79
@9 :CB7H=CBB9A9BH =B5DDFCDF=g @9
8g:5IH 89BHF9H9B=F @=BGH5@@5H=CB
=B5DDFCDF=g9 CI Bg;@=;9BH9 @5@HgF5H=CB
@9 8g:CIH 89 GI=JF9 @9G 8=F97H=J9G
8IH=@=G5H=CB @5 A5B=DI@5H=CB G5BG
DFg75IH=CB @9 G9FJ=79 BCB 5IHCF=Gg M
7CADF=G @5 FgD5F5H=CB 9::97HIg9
GC=AhA9 CI @9LD@CF5H=CB 89G
Ag75B=GA9G =BH9FB9G 89 @5DD5F9=@ 89
@5 D5FH 89 HCIH D5FH=9  @5>IGH9A9BH CI
@5 AC8=:=75H=CB 89 HCIH GCFH9  @9
BCBF9GD97H 89G 7C89G Fg;@9A9BHG CI
@C=G gH5H=EI9G @C75IL AIB=7=D5IL CI
89 7CAHg Fg;=GG5BH @g@97HF=Hf @5
D@CA69F=9 9HCI @9 6dH=A9BH M 7CADF=G
@9 8g:5IH 8=BGH5@@9F @9 DFC8I=H 85BG @9
F9GD97H @9 D@IG GHF=7H 89G 7C89G GH
Ff;@9A9BHG 9B A5H=fF9 8=B79B8=9 9H 89
6dH=A9BH  @IGIF9 BCFA5@9 @9
F9BJ9FG9A9BH 85@=A9BHG 89 @=EI=89G
@9G 577IAI@5H=CBG 89 ;F5=GG9 CI @9G
5IHF9G GIGH5B79G EI= G577IAI@9BH GIF
@9 DFC8I=H b @=BHgF=9IF CI 5IHCIF 89
79@I=7=  @9G :CF79G GH :57H9IFG
9LH9FB9G 89G g@gA9BHG 9HCI 89
@9BJ=FCBA9BH M 7CADF=G BCH5AA9BH
@5 D@I=9 @9 J9BH @9 G56@9 @=BCB85H=CB
@=B79B8=9 @9G ;@=GG9A9BHG 89 H9FF=5B
@9G H9ADgF5HIF9G 5I89GGCIG 8I DC=BH
89 7CB;g@5H=CB @<IA=8=Hg 9L79GG=J9 CI
@9LCG=H=CB DFC@CB;g9 b <IA=8=Hg @5
:CIB8F9 @5 GIFH9BG=CB g@97HF=;I9 @9G
8g:5IHG 89G GHFI7HIF9G EI= 9BHCIF9BH
@5DD5F9=@ 9H @9G 75G 89 :CF79 A5>9IF9
CG7< B9 G9F5 9B 5I7IB 75G
F9GDCBG56@9 89 EI9@EI9 A5B=fF9 EI9
79 GC=H 89G 8CAA5;9G C775G=CBBgG
5IL 6=9BG 9BJ=FCBB5BHG M 7CADF=G @9G
5FAC=F9G 89 F5B;9A9BH @9G D@5B7<9FG
@9G D@5:CB8G GH @9G 5IHF9G GHFI7HIF9G CI
C6>9HG EI= G9 HFCIJ9BH 5IHCIF 8I
DFC8I=H *CBH g;5?9A9BH 9L7@IG 89 @5
DFgG9BH9 ;5F5BH=9 @9G g;F5H=;BIF9G @9G
9B7C7<9G @9G 6CGG9@IF9G 9H @9G
8CAA5;9G HCI7<5BH @5DD5F9B79 89G
GIF:579G 9LH9FB9G GH 89G D=f79G
9LDCGg9G @9G DFC8I=HG 8CBH @9G
BIAgFCG 89 GgF=9 CBH gHg AC8=:=gG
F9B8IG =@@=G=6@9G CI 9B@9JgG @9G
8gD@579A9BHG 8I D9FGCBB9@ 89 G9FJ=79
5DFgGJ9BHG DCIF JCIG 9BG9=;B9F
7CAA9BH IH=@=G9F @9 DFC8I=H CI @9G
8gD@579A9BHG @CFGEI9 @9 DFC8I=H B9
DFgG9BH9 5I7IB DFC6@fsA9G
background

8=BGH5@@5H=CB JCIG gH9G G9I@
F9GDCBG56@9 89 HCIH9 GHFI7HIF9 9H 89 @5
A=G9 9B D@579 8I DFC8I=H M 7CADF=G @9G
=BGH5@@5H=CBG g@97HF=EI9G 89 D@CA69F=9
CI 5IHF9G =BGH5@@5H=CBG 89
F577CF89A9BH 89 @5 A=G9 9B D@579 89
:CB85H=CBG CI 8IB D5FEI9H 5DDFCDF=gG
9H 89 HCIH9 AC8=:=75H=CB 89J5BH
7CH5AA9BH hHF9 5DDCFHg9 5IL 5FAC=F9G
89 F5B;9A9BH AIFG D@5B7<9FG
F5MCBB5;9G 9H7 5=B=G= EI9 @9 Fg;@5;9
89G 8=G>CB7H9IFG CI 89G :IG=6@9G
$) " #)+( %T " "%
"+*%() " &(P)$*
($* $'+ ,%)
(%+() ."+)) $  '+
%$($ " &(%+* &+
$&%(* ) " (P"#*%$ )*
 $*+( %$*(*+"" %+
P"*+"" / %#&() "
()&%$)"*P )%"+ %+ "
$P"$ %+ +*( "
&(P)$* ($* (#&"
*%+*) ") +*() ($*)
.&())) %+ #&"*)
*%+* ($* #&"* $
,(*+  " "% '+  )%* N
) $)  '+"*P
#($ %+ &**%$ N
+$ +* &(*+"( %+
+*(#$* )* $ ,++(
+$'+#$* &$$* "
&P(% + %+() 
"'+"" " &(P)$*
($* "#*P .&()) )*
$ ,++( " ($* $
)( $ ++$ $
()&%$)" ) %##)
&(*) %+ () %$)P+*)
&(*+"() ))%()
$(*) *%+ &+$*) )
K&(*) %##(") /
%#&() $%*##$* "
*#&) )$ + *(,"
"P(#$* *%+ ")
(&) + ()*+($* ")
()  (#%" $
.P$* ) %##)
(*) '+ )%$* +)P)
P$*,#$* * ."+),
&( %) %+ +*(#$*
(*$) P** $
&(#**$* &) "."+)%$
%+ " "#**%$ )
%##) ))%() %+
%$)P+*)
* (*$) P**) $
&(#**$* &) '+ )
"$*) )%$* #&%)P) N "
+(P +$ ($*
#&"*  )%(* '+ ")
"#**%$) $'+P) &"+)
+*) &+,$* $ &)
)&&"'+( N ,%+) "
&(P)$* ($* ,%+)
%$$ ) (%*) +('+)
&(*+"() * ,%+) &%+,0
+)) ,%( +*() (%*)
'+ ,($* +$ P** N
"+*( I7IB9 H9BH5H=J9 89
AC8=:=9F @5 DFgG9BH9 ;5F5H=9 B5 89::9H b
AC=BG 8hHF9 5IHCF=Gg9 D5F g7F=H D5F IB
8=F=;95BH 89 *
?==5>D ?2D5>9B E> C5BF935 1E D9DB5
45 <1 71B1D95 'CIF C6H9B=F IB G9FJ=79
5I H=HF9 89 @5 ;5F5BH=9 DCIF JCHF9
DFC8I=H JCIG 89JF=9N 7CAAIB=EI9F
5J97 @9 79BHF9 89 G9FJ=79 5DFgGJ9BH9
5;Fgg @9 D@IG DFC7<9 89 CG7<
* CA9 DD@=5B79G
 $75889B J9BI9 IBH=B;HCB
957< 5@=:CFB=9 

background

"(*%$ ) ($*) ",b"$ %)
#9G ;5F5BH=9G :CIFB=9G D5F * CA9
DD@=5B79G 7=s5DFfG 8gBCAAg
QCG7<T 85BG @5 DFgG9BH9 8g7@5F5H=CB
G5DD@=EI9BH 9L7@IG=J9A9BH 5IL
@5J9s@=B;9 CG7< J9B8IG 5I
7CBGCAA5H9IF 9B :=B 89 7<5jB9 D5F
CG7< CI D5F G9G F9J9B89IFG 5;FggG
G9G 8gH5=@@5BHG CI 79BHF9G 89 G9FJ=79
5DFfGsJ9BH9 5IL H5HGs,B=G CI 5I
5B585 #9G;5F5BH=9G :=;IF5BH 85BG
79HH9 8g7@5F5H=CB B9 GCBH D5G
HF5BG:gF56@9G
   
   
.; 12 4.?.;A62 96:6AQ2 0<:=9PA2
L 0<:=A2? 12 9. 1.A2 16;@A.99.A6<;
<@05 ?Q=.?2?. <B ?2:=9.02?. 4?.AB6A2:2;A A<BA2 =6P02 @.CQ?.;A 1Q3.699.;A2 1.;@ 92@ 0<;16A6<;@
;<?:.92@ 1[email protected]<; 1<:2@A6>B2 3?.6@ 12E=Q16A6<; 6;09B@ "2@ ?Q=.?.A6<;@ @<B@ 4.?.;A62 12C?<;A
RA?2 23320ABQ2@ =.? B; 2;A?2 <@05 1B (2?C602 =?P@[+2;A2 (+ =6P02@ @B=2?36062992@ 2E09B2@
.;@ 12 4.?.;A62 96:6AQ2
L 0<:=A2? 12 9. 1.A2 16;@A.99.A6<;
<@05 3<B?;6?. 4?.AB6A2:2;A 92@ =6P02@ 12 ?205.;42 12 A<BA2 =6P02 @.CQ?.;A 1Q3.699.;A2 1.;@ 92@
0<;16A6<;@ ;<?:.92@ 1[email protected]<; 1<:2@A6>B2@ 3?.6@ 12E=Q16A6<;@ 6;09B@
.;@ 12 4.?.;A62 96:6AQ2 @B? 9Q920A?<;6>B2
L 0<:=A2? 12 9. 1.A2 16;@A.99.A6<;
<@05 ?Q=.?2?. <B ?2:=9.02?. 4?.AB6A2:2;A A<BA :60?<=?<02@@2B? <B 0.?A2 L 06?0B6A@ 6:=?6:Q@
@.CQ?.;A 1Q3.699.;A2 1.;@ 92@ 0<;16A6<;@ ;<?:.92@ 1[email protected]<; 1<:2@A6>B2 @B? B;2 =Q?6<12 12 12BE
.;@ 0<B?.;A 12=B6@ 9. 1.A2 16;@A.99.A6<; 1<?646;2 3?.6@ 12 :.6;[1<2BC?2 2E09B@
.;@ 12 4.?.;A62 96:6AQ2 @B? 92 :<A2B?
L 0<:=A2? 12 9. 1.A2 16;@A.99.A6<;
<@05 ?Q=.?2?. <B ?2:=9.02?. 4?.AB6A2:2;A A<BA :<A2B? <B 0<:=<@.;A 1B :<A2B? @.CQ?.;A 1Q3.699.;A
1.;@ 92@ 0<;16A6<;@ ;<?:.92@ 1[email protected]<; 1<:2@A6>B2 @B? B;2 =Q?6<12 12 12BE .;@ 0<B?.;A 12=B6@ 9.
1.A2 16;@A.99.A6<; 1<?646;2 3?.6@ 12 :.6;[1<2BC?2 2E09B@
". 1.A2 16;@A.99.A6<; @2?. ?Q=BAQ2 9. =9B@ =?Q0<02 12@ 12BE 1.A2@ @B6C.;A2@ @<6A 9. 1.A2 L 9.>B2992 92 9.C2[96;42 . QAQ 6;@A.99Q @<6A 16E 7<B?@ <BC?./92@
.=?P@ 9. 1.A2 12 96C?.6@<;
H3<EC9?>C 45 71B1>D95
#5 DFgG9BH9 ;5F5BH=9 B9 7CIJF9 D5G @9G
5DD9@G 8I *- 9H @9G FgD5F5H=CBG Bgs
79GG5=F9G DCIF F97H=:=9F @=BGH5@@5H=CB 8I
@5J9s@=B;9 DCIF :CIFB=F 89G =BGHFI7H=CBG
GIF @IH=@=G5H=CB 89 79H 5DD5F9=@ DCIF
F9AD@579F @9G :IG=6@9G 8=G>CB7H9IFG CI
JCG @=;B9G g@97HF=EI9G 8CA9GH=EI9G CI
DCIF FgD5F9F IB @5J9s@=B;9 EI= 5 gHg IH=@=s
Gg 8IB9 :5eCB BCB 7CB:CFA9 5I AC89
8IH=@=G5H=CB 8CA9GH=EI9 BCFA5@ CI <5s
6=HI9@
B CIHF9 @9G ;5F5BH=9G :CIFB=9G 85BG @5
DFgG9BH9 8g7@5F5H=CB 9L7@I9BH HCIH 8gs
:5IH CI 8CAA5;9 9B;9B8Fg D5F IB 57s
7=89BH IB9 AC8=:=75H=CB IB9 IH=@=G5H=CB
=B9LD9FH9 CI 56IG=J9 IB9 =BGH5@@5H=CB
=B7CFF97H9 89G HF5J5IL 89BHF9H=9B D5F
89G D9FGCBB9G BCB 5IHCF=Gg9G 9H 89G
:57H9IFG 9LH9FB9G g7<5DD5BH b HCIH9
=B:@I9B79 89 CG7< H9@G EIIB =B79B8=9
IB9 =BCB85H=CB 9H @5 :CF79 A5>9IF9 CI
IB9 =BGH5@@5H=CB BCB 7CB:CFA9 5J97 @5
Fg;@9A9BH5H=CB @C75@9 5DD@=756@9 5IL
@=;B9G g@97HF=EI9G 9H 5IL :IG=6@9G 89
DFCH97H=CB
#9G :F5=G 89 A5=Bs8C9IJF9 9B;9B8FgG
D5F @9G FgD5F5H=CBG CI @9 F9AD@579A9BH
89 HCIH @5J9s@=B;9 5DFfG IB9 DgF=C89
8IB 5B 7CIF5BH 89DI=G @5 85H9 8=BGs
H5@@5H=CB B9 G9FCBH D@IG 7CIJ9FHG D5F @5
DFgG9BH9 ;5F5BH=9 +CIH9G D=f79G F9As
D@57g9G 9HCI FgD5Fg9G 57EI9FFCBH @9
GH5HIH 89G D=f79G 8CF=;=B9 5IL :=BG 89
@5 DgF=C89 89 ;5F5BH=9 5DD@=756@9 9@@9G
B9B;9B8F9FCBH 5I7IB9 DFC@CB;5H=CB
89 @5 DgF=C89 89 ;5F5BH=9 *, /s
'+ &% ## # ')*%+
)%+  )$'# +&,+*
,+)* )%+ * /'#  +* &,
$'#  +* 0 &$') * #* s
)%+ * $'#  +*  &$$)s
 # * # + + (,+ &%
,% ,+ ') * CG7< # %
+&,+ )*'&%* # + * &$s
$* **& )* + &%*s
,+ *
'&,) %  ) * ')*+s
+ &%* % )%+  -, ##1
&%++) # %+)  *)s
-  ')*s-%+ # '#,* ')&s
 &, ''#1 #
 &, ) -1
#)** *, -%+
* &$ ''# %*
++% *)- 
 $ % -
,%+ %+&%   
- ##1  % % (,) # %,$s
)& , $&#  #-s# %
*&% %,$)&  *)  # +
+ # %&$ + #)** ,
)-%,) # + X #(,##
# ')&#[$ **+ ')&, + ,%
/'# + &% , ')&#[$ ,%
%,$\)& &` %&,* '&,))&%*
-&,* !& %) %* # !&,)%\
+ ,% &'   # +,)
background

%(4*,-*
-*4 -
-&,",4
0(  $"& 
&1 '%(,  $,")-,, &,*,"&
*' *%%
%(4*,-*
& 2 2
-*4 -
(*' *%% &
%"&-,+
&.
-&,",4
%/"%$ 
$"& 
#30'(#/ /+('"#/ #* !+0+* +1 #*
#30'(#/ /+('"#/ #* !+0+* +1 #*
('*
.'/-1*0 "#

8
(#'*# !&.%#
('*

.'/-1*0 "#
"70#'*".#

8
(#'*# !&.%#
%.*" 0'#*0
"+ *
 



#30'(#/ "#*0.0'#* $!'(# #*
!+0+* /4*0&70'-1#/ +1 #/ 0'//1
%.*" 0'#*0
"+ *
 



!+0+* /4*0&70'-1#/ +1 #/ 0'//1
)'30#
.'/-1*0 "#

8 
 !&.%#
)'30#

.'/-1*0 "#
"70#'*".#
*%&&, *++ '$
 


8 
 !&.%#

"70#'*".#
*%&&, *++ '$
 



 !&.%#
#30'(#/ 0.7/ "7('!0/ $!'('#/ 5 #*0.#0#*'.


 !&.%#
#30'(#/ 0.7/ "7('!0/ $!'('#/ 5 #*0.#0#*'.
& +!
 



8
 !&.%#
#30'(#/ 0.7/ "7('!0/ $!'('#/ 5 #*0.#0#*'.

& +!
 

8
background

1B1D5B9CD931C I F5>D1:1C 45 <?C >5EF1 <1F14?B1
*53>?<?7\1 )$)%+)&% 
#5 H97BC@C;i5 )$)%+)&% 
CDH=A=N5 9@ DFC79GC 89
@5J58C 9B 56GC@IH5A9BH9 HC85G @5G 9H5D5G 89@ 7=7@C 89
@5J58C A=8=9B8C 9@ H5A5kC 89 @5 75F;5 9@ B=J9@ 89 5;I5 M @5
H9AD9F5HIF5 B979G5F=5 D5F5 IB F9GI@H58C A9>CF#CG
G9BGCF9G 8=;=H5@9G 7I=85B @5G DF9B85G =B7@IM9B8C @5B5 H9@5
89 5B;CF5 M G985 GH5AcEI=B5 HF565>5 J=FHI5@A9BH9 5@
DI@G5F 9@ 6CHlB
)9CD5=1 5H3<EC9F? 45 29C17B1 I :E>D1
,B5 6=G5;F5 F9:CFN585 M IB5 >IBH5 89 8=G9kC BI9JC M
F9JC@I7=CB5F=C A5BH=9B9B @5 DI9FH5 79FF585 @ G9@@58C
H5A6=gB 9G G9;IFC 55@H5G H9AD9F5HIF5G D9FA=H=9B8C EI9
GIFCD5 5@75B79 @5G H9AD9F5HIF5 G5B=H5F=5 lDH=A5 89 ° 
EI9 9@=A=B5 5oB @5G A5B7<5G AcG D9FG=GH9BH9G
)EBD94?B 45 175>D5 45 <1F14? 45
3?=@1BD9=95>D?C
,B GIFH=8CF 89 5;9BH9 89 @5J58C 89 7CAD5FH=A=9BHCG
8=GHF=6IM9 5IHCAcH=75A9BH9 @5 75BH=858 5897I585
895;9BH9 89 @5J58C 6@5BEI958CF MGI5J=N58CF +F565>5B8C
9B :CFA5 7CB>IBH5 7CB BI9GHFC G9BGCF oB=7C 89 9GDIA5
DI989 IGH98 9GH5F G9;IFC EI9 GI FCD5 EI985
D9F:97H5A9BH9 @=AD=5 89GDIgG 89@ 57@5F58C
=7@C !))
9 GCBH <56=HI9@@9A9BH @9G D@IG >9IB9G C77ID5BHG 89 @5
A5=GCB EI= GCBH b @CF=;=B9 89G H57<9G @9G D@IG H9B579G 9
7M7@9 DCFH9 @95I >IGEIb S DCIF 9B@9J9F :57=@9A9BH @9G
Hd7<9G AhA9 @9G D@IG F969@@9G
&1<5D1C 5< B3895
IF5BH9 9@ @5J58C @5 FCD5 85 JC@H9F9H5G GI5JA9BH9
A=9BHF5G EI9 @5G D5@9H5G F7<=9 <579B 7CFF9F 9@ 5;I5 89G89
5FF=65 5F5GHF5B8C @5 9GDIA5 DFCDCF7=CB5B8C 5 GI FCD5
IB5 @=AD=9N5 HCH5@ @ H5A6FC =B7@=B58C 5MI85 5 EI9 <5GH5 @5
o@H=A5 75A=G5 G9 J95 HF5H585 7CFF97H5A9BH9
*1=2?B5C 45 135B? 9>?H9412<5
@ H5A6CF 89 @5J58C %9HHH H=9B9 79BH9B5G 89 CF=:=7=CG 89
6CF89G F98C6@58CG EI9 D9FA=H9B 5 GIG DF9B85G FC85F
GI5JA9BH9 G=BDF9G9BH5F 9B;5B7<9G
1<5>D14?B 45 17E1 9>D5B>?
,B 9@9A9BHC 75@9BH58CF 89 5;I5 =BH9FBC 75@=9BH5 9@ 5;I5
<5GH5 °  A=9BHF5G EI9 IB G9BGCF 8=;=H5@ 89 H9AD9F5HIF5
7CBHFC@5 @5 H9AD9F5HIF5 89@ 5;I5 #5G @5J58CF5G %9LLH
89
CG7< DFCJ99B 9@ 75@9BH5A=9BHC 89 5;I5 AcG 9:=7=9BH9 M
DF97=GC D5F5 7585 H=DC 89 H9>=8C
E>39?>1=95>D? C9<5>39?C?C
#CG 9@97HFC8CAgGH=7CG 89 @5J58C 89 FCD5 89 CG7< IH=@=N5B
ACHCF9G @=6F9G 89 9G7C6=@@5G G=GH9A5G 89 6CA65G
GIGD9B8=85G M A5H9F=5@9G 89 5=G@5A=9BHC 57oGH=7C 5 :=B 89
@C;F5F IB5 A5F7<5 G=@9B7=CG5 GHC EI=9F9 897=F EI9 DI989
=BGH5@cFG9@CG DFc7H=75A9BH9 9B 7I5@EI=9F G=H=C 89@ <C;5F G=B
EI9 DFC8IN75B D9FHIF657=CB9G
*53>?<?7\1 )/$(%
8A=B=GHF9 GIG H=9ADCG 89 @5J58C M G9758C A98=5BH9 @5
@l;=75 CD9F57=CB5@ )/$(% #CG G9758CF9G %9HHH G9
7CCF8=B5B 7CB @5J9@C7=858 89 ;=FC 89 @5 @5J58CF5 G9;oB
9@H=DC 89 H9>=8C M @5 H9AD9F5HIF5 89@ 5;I5 5>IGH585G D5F5 GI
75F;5 89 @5J58C 9 9GH5 :CFA5 BC G9 5ACBHCB5 @5 FCD5 89
@5J58C A=9BHF5G IGH98 9GD9F5 EI9 9@ G9758CF H9FA=B9 GI
7=7@C
background

Q>4935
569>939?>5C 
$)*(+%$) #&%(*$*) a)+( 
%*+), &%* ') # ',*+ r+ )) 
$)*(+%$) &( " $)*"S$ 
BHFC8I77=lB 
B:CFA57=lB GC6F9 9@=A=B57=lB 89 F9G=8ICG 
*C6F9 DFCH977=lB Mr7CBG9FJ57=lB 89@ A98=C 5A6=9BH9 
D@=757=lB 
EI=D5A=9BHC GIA=B=GHF58C 89 :c6F=75 
$98=85G 
1CB5 89 =BGH5@57=lB 
*575F @CG HCFB=@@CG 89rHF5BGDCFH9 
#CB;=HI89G 89 756@9G M A5B;I9F5G 
CB9L=lB 89 5;I5 
CB9L=lB 9@g7HF=75 
'FC798=A=9BHC 89rB=J9@57=lB 
+F5BGDCFH9 7CAC 9B 9@r75GC 89 AI85BN5 
$)*(+%$)  +$%$#$*% 
*I BI9J5 @5J58CF5 
'5B9@ 89 7CBHFC@ 
)9GIA9B 89 =BGHFI77=CB9G 
>D5C 45< @B9=5B EC? 
&B9=5B EC? 
'F=A9F 7=7@C 89 @5J58C G=B FCD5 
'F9D5F5F @5 FCD5 
*9@977=CB5F @5 FCD5 
F58CG 89 GI7=9858 
5F;5F @5 FCD5 
(?@1 5D5B75>D5C Ia149D9F?C 
,GC 89 @5 75BH=858 89 89H9F;9BH9 5897I585 
5F;5 89 @5 FCD5 9@r89H9F;9BH9 MC @CGr58=H=JCG 
'gF8=85 89 7C@CF 
&B?7B1=1C Ia6E>39?>5C 
'FC;F5A5G 6cG=7C 
'FC;F5A5G 9GD97=5@9G 
$C8=:=758CF9G 
CHCB9G D5F5 G9@977=CB5F @5G CD7=CB9G 
*9k5@ 57oGH=75 
#IN =B8=758CF5 9B7=A5r89@ 6CHlB O*H5FH'5IG9 FF5BEI9'5IG5 
5F57H9FiGH=75G 9GD97=5@9G 
"1F14? 
EB1>D5 5<a<1F14? 
5A6=CG 89 DFC;F5A5 
;F9;5F IB5 DF9B85 C =BH9FFIAD=F 9@ DFC;F5A5 
5B79@57=lB 89 IB DFC;F5A5 57H=JC 
5C@EZC 45<a<1F14? 
"9=@95J1 I 3E9414? 
#=AD=5F @5 @5J58CF5 
9G75@7=:=757=lB 89 @5 AcEI=B5 89 @5J5F 
"?31<9J139^> 45 61<<?C =5>?B5C 
)5BF939? 1 3<95>D5C 
"(S$  ($*Q "#* 
"(S$  ($*Q &(a",%() %) 
L7@IG=CB9G 
*12<1 45 C5<5339^> 45 <?C @B?7B1=1C 
background

#5 BI9J5 AcEI=B5 89 @5J5F EI9 IGH98
57565 89 58EI=F=F 9G IB 9EI=DC
8CAgGH=7C AC89FBC 89 5@H5r75@=858
GH5 AC89FB5 AcEI=B5 89 @5J5F @=AD=5
GI FCD5 IG5B8C @CG DFC79GC 89 @5J58C
AcG GC:=GH=758CG D5F5 C6H9B9F @CG
A9>CF9G F9GI@H58CG 89 @=AD=9N5
,B5 :56F=757=lB 9 =B;9B=9Fi5
9L79@9BH9G F98I79B G=;B=:=75H=J5A9BH9
@CG 7CGH9G 89rCD9F57=lB
,B5 :=@CGC:i5 :c7=@ 9B 9@ A5B9>C
IB5r;F5B J5F=9858 89 DFC;F5A5G
89r@5J58C M IB5 G9BG57=lB 89 GC@=89N
<579B 89 9GH5 @5J58CF5
IBr5G=GH9BH9bGIA5A9BH9 oH=@ 9B
GIr<C;5F
&:F979 @5G G=;I=9BH9G DFCD=98589G
5>C B=J9@ 89 FI=8CG 8IF5BH9 9@
@5J58C M 79BHF=:I;58C
'I9FH5 9@9J585 7CB 79FF58IF5
A5;BgH=75
#5 DI9FH5 56F9  DI@;585G
7A A98=5BH9 IB5 6=G5;F5
FC6IGH5 EI9 D9FA=H9 ;=F5F IB
cB;I@C 89 R
5D57=858 89@ H5A6CF 89 r@6G
 ?; D5F5 5@;C8lB BCFA5@
+C85 AcEI=B5 89 @5J5F EI9 89>5
BI9GHF5 D@5BH5 <5 5DFC658C IB 7CBHFC@
89 D9F:CFA5B79 F95@iGH=7C Mr9GHc 9B
D9F:97H5G 7CB8=7=CB9G
89r:IB7=CB5A=9BHC
@r9@97HFC8CAgGH=7C DI989 7CBH9B9F
J9GH=;=CG 89 5;I5 896=8C 5@ @CG
DFC798=A=9BHCG 89 7CBHFC@ *=r-8 H=9B9
7I5@EI=9F 8I85 F9GD97HC 89 @5
=BGH5@57=lB 89 @5 AcEI=B5 89 @5J5F
BI9GHFC G9FJ=7=C 5r7@=9BH9G @C 5G9GCF5Fc
;IGHCG5A9BH9
B BI9GHF5 Dc;=B5 89 K96 9B7CBHF5Fc
AcG =B:CFA57=lB F9:9F=85 5 BI9GHFCG
DFC8I7HCG MrGIrG9@977=lB
KKKr6CG7<5DD@=5B79G7CA
)C;5ACG @99F M G9;I=F 9GH5G
=BGHFI77=CB9G 89 :IB7=CB5A=9BHC
9r=BGH5@57=lB 7CB>IBH5A9BH9 7CB HC85G
5EI9@@5G =B:CFA57=CB9G 9BHF9;585G 7CB
BI9GHF5 AcEI=B5 89 @5J5F
GH5G =BGHFI77=CB9G 89 :IB7=CB5A=9BHC
9 =BGH5@57=lB 89G7F=69B 8=:9F9BH9G
AC89@CG #5Gr8=:9F9B7=5G G9 89G7F=69B
9B @CGrG=H=CG 7CFF9GDCB8=9BH9G
#5G =@IGHF57=CB9G DI989B J=GI5@=N5F
89H5@@9G 8=:9F9BH9G 5@ AC89@C 58EI=F=8C
DCF -8
569>939?>5C
d
,(
*$
d
,(*$ t GHC G=;B=:=75
EI9 DI989 F9GI@H5F @5 AI9FH9 C
@9G=CB9G ;F5J9G 896=8C 5 @5
=BC6G9FJ5B7=5 89 9GH5
58J9FH9B7=5
d
+%
+% t GHC G=;B=:=75 EI9
DI989B F9GI@H5F @9G=CB9G 896=8C
5 @5 =BC6G9FJ5B7=5 89 9GH5
58J9FH9B7=5
+%
+% t GHC G=;B=:=75 EI9
DI989B F9GI@H5F 85kCG 896=8C 5
@5 =BC6G9FJ5B7=5 89 9GH5
58J9FH9B7=5
i
GH9 GiA6C@C G9 IH=@=N5 D5F5 @@5A5F
@5 5H9B7=lB 89@ IGI5F=C F9GD97HC 89
5@;C 9B D5FH=7I@5F
d $)*(+%$) #&%(*$*) a)+(
d
,(
*$
d
'5F5 F98I7=F 9@ D9@=;FC 89 =B79B8=C
89G75F;5G 9@g7HF=75G @5GH=A58IF5G
89 ;F5J9858 CrAI9FH9 5@ 9AD@95F GI
@5J58CF5 HCA9 @5G G=;I=9BH9G
DF975I7=CB9G
 #5G @5J58CF5G &* G9
GIA=B=GHF5B 7CB IB A5BI5@
EI9r=B7@IM9 =BGHFI77=CB9G
89r:IB7=CB5A=9BHC 89
A5BH9B=A=9BHC 9 =BGH5@57=lB #99F
HC85G @5G =BGHFI77=CB9G 5BH9G 89
IH=@=N5F @5 @5J58CF5
 %C @5J5F 5FHi7I@CG EI9 DF9J=5A9BH9
<5M5B G=8C @=AD=58CG @5J58CG
F9AC>58CG C 89GA5B7<58CG 7CB
;5GC@=B5 GC@J9BH9G D5F5 @=AD=9N5 5
G97C CHF5G GIGH5B7=5G =B:@5A56@9G
Cr9LD@CG=J5G M5 EI9 G9 DFC8I79B
J5DCF9G EI9 DI989Br=B:@5A5FG9 C
9LD@CH5F
 %C 5;F9;I9 ;5GC@=B5 GC@J9BH9G
D5F5 @=AD=9N5 5 G97C I CHF5G
GIGH5B7=5G =B:@5A56@9G
Cr9LD@CG=J5G 5@ 5;I5 89 @5J58C *9
DFC8I79B J5DCF9G EI9 DI989B
=B:@5A5FG9 C 9LD@CH5F
 5>C 7=9FH5G 7CB8=7=CB9G DI989
DFC8I7=FG9 <=8Fl;9BC ;5G9CGC 9B
IB G=GH9A5 89 5;I5 75@=9BH9 EI9
BC <5M5 G=8C IH=@=N58C DCF 8CG C
AcG G9A5B5G #  )&%&
* /'#&* -& *= 9@ G=GH9A5 89
5;I5 75@=9BH9 BC <5 G=8C IH=@=N58C
8IF5BH9 H5@ D9FiC8C 56F=F HC8CG @CG
;F=:CG 89 5;I5 75@=9BH9 M 89>5F :@I=F
9@ 5;I5 8IF5BH9 J5F=CG A=BIHCG
5BH9G 89 IH=@=N5F @5 @5J58CF5 GHC
9@=A=B5Fc 9@ <=8Fl;9BC EI9rG9
<I6=9F5 57IAI@58C %Cr:IA5F B=
IH=@=N5F IB5 @@5A5 56=9FH5 8IF5BH9
9GH5 CD9F57=lB M5 EI9 9@ ;5G 9G
=B:@5A56@9
 BH9G 89 F9H=F5F @5 AcEI=B5 89
G9FJ=7=C C 89G<579FG9 89 9@@5
G5EI9 @5 DI9FH5 M 9@ 756@9 89
7CB9L=lB 5 @5 F98
 %C =BHFC8I7=F @5G A5BCG 9B
@5r@5J58CF5 G= 9@ H5A6CF 9GHc
ACJ=gB8CG9
 %C =BGH5@5F C 89>5F @5 @5J58CF5 9B
IB @I;5F 8CB89 9GHg 9LDI9GH5 5 @5
=BH9AD9F=9
 %C A5B=DI@5F @CG 7CBHFC@9G
 %C F9D5F5F C F99AD@5N5F B=B;IB5
D5FH9 89 @5 @5J58CF5 B=r=BH9BH5F
7I5@EI=9F H=DC 89 G9FJ=7=C 5 A9BCG
EI9 <5M5 G=8CrF97CA9B858C 9B
@5G =BGHFI77=CB9G 89
A5BH9B=A=9BHC C 9B =BGHFI77=CB9G
89 F9D5F57=lB D5F5 IGI5F=CG EI9
G9 <5M5B 7CADF9B8=8C
D@9B5A9BH9 MrD5F5 @5G EI9 G9
8=GDCB;5 89r<56=@=858
 G9;oF9G9 G=9ADF9 EI9
@5rAcEI=B5 89 @5J5F 9GHg
89G9B7<I:585 89 @5 @iB95 89
5@=A9BH57=lB 5BH9G 89 F95@=N5F
H5F95G 89 A5BH9B=A=9BHC
CrG9FJ=7=C 9G7CB97H9 9@ 756@9 89
5@=A9BH57=lB HCAcB8C@C 89@
background

HCA57CFF=9BH9 M BC 89@ 756@9
A=GAC
 :=B 89 F98I7=F 9@ D9@=;FC 89
=B79B8=CG @5G DF9B85G @CG D5kCG
D5F5 @5 @=AD=9N5 @CG 9GHFCD5>CG
MC6>9HCG DCF 9@ 9GH=@C EI9 G9 <5M5
9BGI7=58C 7CB GIGH5B7=5G
=B:@5A56@9G 89 7I5@EI=9F H=DC 7CAC
579=H9G J9;9H5@9G 579=H9 89
7C7=B5 579=H9G 9B 65G9 5 D9HFl@9C
C GIG 89GH=@58CG 79F5G ;F5G5G
9H7 8969B A5BH9B9FG9 5@9>58CG
89 :I9BH9G 89 =;B=7=lB =B7@IM9B8C
G9758CF9G 89 FCD5 GHCG
5FHi7I@CG DI989B 7CBH9B9F
GIGH5B7=5G =B:@5A56@9G 89GDIgG
89 <569F G=8C @5J58CG EI9
DI989B 89G5FFC@@5F <IACG
Cr=B79B8=5FG9 DCF Gi A=GA5G
 %C @5J5F 5 AcEI=B5 A5H9F=5@9G EI9
7CBH9B;5B :=6F5 89 J=8F=C AI7<5G
7CFH=B5G M 8CG9@9G H=9B9B
A5H9F=5@9G 5 65G9 89 :=6F5 89
J=8F=C 'I989B D9FA5B979F
D9EI9k5G D5FHi7I@5G 9B @5
AcEI=B5 EI9 G9r58<=9F9B 5 @5G
DF9B85G 89 75F;5G GI79G=J5G
75IG5B8C =FF=H57=lB 89 @5 D=9@
 I5B8C @CG B=kCG @@9;5B 5 IB5
9858 5897I585 D5F5 CD9F5F
9EI=DCG 9@97HFC8CAgGH=7CG 9G
F9GDCBG56=@=858 @9;5@ 89 @CG
D58F9G C F9DCBG56@9G @9;5@9G
<579F@CG =BGHFI=F DCF D9FGCB5@
5897I585A9BH9 75@=:5758C
F9GD97HC 89 @5G A98=85G 89
G9;IF=858 7CFF9GDCB8=9BH9G
 %C D9FA=H5 EI9 @CG B=kCG >I9;I9B
9B C 7CB @5 @5J58CF5 969
9>9F79FG9 IB5 GID9FJ=G=lB 9GHF=7H5
7I5B8C gGHCG G9 9B7I9BHF5B 79F75
89 @5 @5J58CF5
 $5BH9B9F 5@9>58CG 5 @CG 5B=A5@9G
8CAgGH=7CG
 %C 7CB97H5F C 89G7CB97H5F
9@r9B7<I:9 DF=B7=D5@ 7CB @5G A5BCG
AC>585G C <oA985G
 %C HC75F @5 DI9FH5 5@ @5J5F 5 5@H5
H9AD9F5HIF5
 +9B9F DF975I7=lB 5@ 89G5;I5F 9@
5;I5 75@=9BH9
 %C GI6=FG9 5 @5 AcEI=B5 B=
5DCM5FG9 9B @5 DI9FH5 89
75F;5r56=9FH5
 %C G9BH5FG9 GC6F9 @5 AcEI=B5
 :=B 89 F98I7=F 9@ D9@=;FC 89
=B79B8=C M 89G75F;5G 9@g7HF=75G
%& IG5F IB5 9LH9BG=lB C IB
585DH58CF D5F5 7CB97H5F @5
@5J58CF5 5 @5 F98
 #5 AcEI=B5 8969 9AD@95FG9 Gl@C
D5F5 @C EI9 <5 G=8C 8=G9k585
 *9;I=F @5G =BGHFI77=CB9G 89 @5J58C
EI9 F97CA=9B85 9@ :56F=75BH9 89 @5
DF9B85 5 @5J5F
 %C IH=@=79 @5 @5J58CF5 G= 9@ 756@9 89
5@=A9BH57=lB DF9G9BH5 85kCG C 9@
9B7<I:9 9GHc GI9@HC *=9GH9 :I9F5
9@ 75GC DlB;5G9 9B 7CBH57HC 7CB
IB 5;9BH9 5IHCF=N58C
 G9;IF5FG9 89 EI9 HC85G @5G
7CB9L=CB9G 89 5;I5 5 @5 AcEI=B5
9GHgB DFCJ=GH5G 89 Jc@JI@5G 89
7=9FF9 M EI9 8=7<5G Jc@JI@5G G95B
89 :c7=@ 5779GC =9FF9 @5G Jc@JI@5G
89 5@=A9BH57=lB 5@ H9FA=B5F
7585r8i5 89 @5J58C
 -9F=:=75F @5G 7CB9L=CB9G 89 @5G
A5B;I9F5G F9;I@5FA9BH9 D5F5
5G9;IF5FG9 89 EI9 9GHcB 6=9B
5>IGH585G M EI9 BC D=9F89B
 *=9ADF9 G9 8969B @99F @5G
=BGHFI77=CB9G 89@ :56F=75BH9
89@r89H9F;9BH9 5;9BH9 89
@=AD=9N5 57CB8=7=CB58CF9G
Mr9@=A=B58CF9G 89 9GHcH=75 EI9 G9
9AD@99B 'F9GH5F 5H9B7=lB 5r@5G
58J9FH9B7=5G MrDF975I7=CB9G
 @A579B5F @CG 5;9BH9G 89 @=AD=9N5
9B @I;5F :F9G7C MrG97Cr89 57I9F8C
7CB @5G =BGHFI77=CB9G 89@
:56F=75BH9
 '5F5 F98I7=F 9@ F=9G;C 89
9BJ9B9B5A=9BHC C EI9A58IF5G
EIiA=75G A5BH9B9F HC8CG @CG
DFC8I7HCG 89 @=AD=9N5 :I9F5
89@r5@75B79 89 @CG B=kCG
 %C DCB9F @5 AcEI=B5 9B
:IB7=CB5A=9BHC 9GH5B8C G=B
@CGrD5B9@9G MC DFCH977=CB9G
CrGI>97=CB9G 7C@C7585G
9L79DHI5B8C @CG D9FBCG 89
HF5BGDCFH9
 %C <579F :IB7=CB5F @5 @5J58CF5 G=
H=9B9 D5FH9G 89H9F=CF585G C @9
:5@H5B D5FH9G
 %C DI9BH95F B=B;oB 8=GDCG=H=JC 89
G9;IF=858
 '5F5 9J=H5F 85kCG 9B 9@ GI9@C
CrEI9 7F9N75 9@ AC<C BC 8969B
DFC8I7=FG9 89FF5A9G
CrG5@D=758IF5G 89 5;I5 EI9
;9B9F9B 7<5F7CG 5@F9898CF 89 C
8965>C 89 @5 AcEI=B5
 %C DCB9F @5 @5J58CF5 9B
:IB7=CB5A=9BHC <5GH5 5G9;IF5FG9
89 EI9
5 <5M5 G=8C =BGH5@585
89r57I9F8C 7CB @5G
%*+), &%* 
%*+# _%
6 HC85G @5G 7CB9L=CB9G 89
5;I5 89G5;q9 5 @5 F98
9@g7HF=75 M 5 H=9FF5 9GHgB
89r57I9F8C 7CB @5G BCFA5G
@C75@9G MC CHF5G BCFA5G
5D@=756@9G
 BGH5@5F A5BH9B9F MC <579F :IBs
7=CB5F @5 @5J58CF5 9B 89G57I9F8C
7CB @5G =BGHFI77=CB9G 89@ :56F=s
75BH9 DI989 DFC8I7=F G=HI57=CB9G
EI9r7CB8IN75B 5r@9G=CB9G 7CFDCs
F5@9G MC 85kCGrA5H9F=5@9G
 9GACBH5B8C 7I5@EI=9F 89 @CG
D5B9@9G =B7@IM9B8C 9@ D5B9@ 89
A5B9>C F98CB8C I6=758C 9B 9@
:F9BH9 DI989B EI985F 9LDI9GH9G
75BHCG M DIBHCG :=@CGCG 7CB9Ls
=CB9G 9@g7HF=75G M GID9F:=7=9G 75@s
=9BH9G
 CB C6>9HC 89 BC C75G=CB5F 85kCG
9B @5 DI9FH5 89 75F;5 89@ 5D5F5HC
8IF5BH9 @CG 89GD@5N5A=9BHCG 89@
A=GAC BC 8969Fc DF9G=CB5FG9
7CBHF5 @5 DI9FH5 CB C6>9HC 89
9J=H5F 85kCG 9B 9@ :CB8C 89@ 5D5s
F5HC 8969FcB HCA5FG9 A98=85G
DF975I7=lB 5897I585G
 CB97H5F 9@ 5D5F5HC 5 @5 F98 89
5;I5 M J9F=:=75F 8=7<5G 7CB9L=CB9G
5BH9G 89 57CD@5F@C 5 @5 F98
9@g7HF=75
$?D1C
 #5G %*+), &%*
$'&)+%+* 
*,)  M @CG
##$&*  +% _%
EI9 G9 DF9G9BH5B 9B 9GH9
A5BI5@ BC 7I6F9B HC85G @5G
G=HI57=CB9G DCG=6@9G EI9
DI989B H9B9F @I;5F 969B
5D@=75FG9 9@ G9BH=8C 7CAoB
DF975I7=lB M 7I=858C 5@
=BGH5@5F A5BH9B9F C <579F
:IB7=CB5F @5 @5J58CF5
 CBGI@H5F G=9ADF9 7CB 9@
7CA9F7=5BH9 8=GHF=6I=8CF
5;9BH9 89 G9FJ=7=C Cr:56F=s
75BH9 7I5@EI=9F DFC6@9A5
Cr6=9B 7CB8=7=CB9G EI9 BC
G9r<5Br7CADF9B8=8C 7CAD@9s
H5A9BH9
background

$)*(+%$) &(
" &+)* a*((
@ 9@97HFC8CAgGH=7C 8969 7CB97H5FG9 5
H=9FF5 B 75GC 89r:5@@CG 9B 9@
:IB7=CB5A=9BHC CrFCHIF5G @5 7CB9L=lB 5
H=9FF5 F98I79 9@ F=9G;C 89 89G75F;5G
9@g7HF=75G DF9G9BH5B8C IB5 Ji5 89r65>5
F9G=GH9B7=5 DCF @5 EI9 DI989 :@I=F @5
7CFF=9BH9
GH9r9@97HFC8CAgGH=7C 9GHc DFCJ=GHCr89
IB 756@9 89 7CB9L=lB 7CB IB
7CB8I7HCF 89 H=9FF5 M 9@ HCA57CFF=9BH9
7CB @5 HCA5 89 H=9FF5 7CFF9GDCB8=9BH9
@ HCA57CFF=9BH9 8969 7CB97H5FG9 9B
IB 9B7<I:9 5897I58C EI9 9GHg 89
57I9F8C 7CBrHC8CG @CG F9;@5A9BHCG
MrCF89B5BN5G @C75@9G
d
,(
*$
d
#5 7CB9L=lB =B5897I585 89 @5
DI9GH5 5 H=9FF5 89 9GH9 9EI=DC
DI989 7CB8I7=F 5 IB F=9G;C 9@9J58C
89 89G75F;5G 9@g7HF=75G
CB97H5F 5 IB5 F5A5 89@ 7=F7I=HC
=B8=J=8I5@
5;5 7CBHFC@5F @5 =BGH5@57=lB DCF IB
9@97HF=7=GH5 75@=:=758C G= H=9B9 8I85G
5 :=B 89 89H9FA=B5F EI9 @5r@5J58CF5
9GHg 7CFF97H5A9BH9 7CB97H585 5
H=9FF5
%& AC8=:=EI9 9@ 9B7<I:9
GIA=B=GHF58C 7CB @5 @5J58CF5 *=rBC
9G 5897I58C 5@ HCA57CFF=9BH9 <5;5
=BGH5@5F IBrHCA57CFF=9BH9 5897I58C
DCFrIB 9@97HF=7=GH5 75@=:=758C
%$)(, )*)
$)*(+%$)
&(a%$)+"*)
&%)*(%()
B 75GC 89 IB 75A6=C 89 DFCD=9H5F=C
9GH9 A5BI5@ 8969 9BHF9;5FG9
7CB>IBH5A9BH9 7CB @5r@5J58CF5
%$)(,
)*)
$*(+%$)
$)*(+%$)
&( "
$)*"S$
>DB?4E339^>
d
+%
') - +)
) *&  #* &%*
#5 AcEI=B5 89 @5J5F 9G D9G585
#9J5BH5F 7CB 7I=858C
G9;oF9G9 89 H9B9F 9B 7I9BH5 HC85G
@5G 58J9FH9B7=5G MrDF975I7=CB9G
+%
$5B;I9F5G 7CB;9@585G DI989B
F5>5FG9 C EI96F5FG9 %C =BGH5@5F @5
AcEI=B5 89 @5J5F 9B 9@ 9LH9F=CF Cr9B
IB NCB5 8CB89 9GHg 9LDI9GH5
5rH9AD9F5HIF5G DCF 8965>C 89@rDIBHC
89 7CB;9@57=lB
GH5G =BGHFI77=CB9G D5F5 @5 =BGH5@57=lB
9GHcB 89GH=B585G D5F5 G9F IG585G DCF
D9FGCB5@ 75@=:=758C 8=7=CB5@A9BH9
8969B H9B9FG9 9B 7I9BH5
9B @CG GH58CG ,B=8CG 9@ %5H=CB5@
@97HF=7 C89 %* %' 9B
GI o@H=A5 98=7=lB M @5G F9;@5G
AIB=7=D5@9G MC @C75@9G J=;9BH9G
B 5B58c 9@ 5B58=5B @97HF=75@
C89  9B GI o@H=A5 98=7=lB M
@5G F9;@5G AIB=7=D5@9G MC @C75@9G
J=;9BH9G
*= @5 AcEI=B5 89 @5J5F G9 J5 5r=BGH5@5F
9B IB5 5A6=9BH9 9LDI9GHC 5
H9AD9F5HIF5G DCF 8965>C 89@ DIBHC 89
7CB;9@57=lB CrG= J5 5 9GH5F =BGH5@585
9B IB5 756=B5 79FF585 8IF5BH9 9@
H=9ADC =BJ9FB5@ 4525> 9@=A=B5FG9
HC8CG @C J9GH=;=CG 89 5;I5 7CBH9B=8CG
9B @5G A5B;I9F5G 89 5779GC
I=89 89 BC 85k5F @5 AcEI=B5 89 @5J5F
%C GI>9H9 9@ 9EI=DC 89 D5FH9G
DFCHI69F5BH9G D 9> @5 DI9FH5 7I5B8C
@C @9J5BH9
8=7=CB5@A9BH9 5 @5G =BGHFI77=CB9G 89
G9;IF=858 @=GH585G 5EIi 9@ DFCJ998CF
89 5;I5 M 9B9F;i5 @C75@ DI989B H9B9F
F9EI9F=A=9BHCG 9GD97=5@9G
B 75GC 89 8I85G <5;5 7CB97H5F
9@r9@97HFC8CAgGH=7C DCF IB Hg7B=7C
5IHCF=N58C
>6?B=139^> C?2B5
5<9=9>139^> 45 B5C94E?C
<9=9>139^> 45< 5=21<1:5
@ 9A65@5>9 GIA=B=GHF58C <5 DFCH9;=8C
GI BI9J5 AcEI=B5 8IF5BH9 9@
HF5BGDCFH9 <5GH5 GI <C;5F +C8CG @CG
A5H9F=5@9G EI9 :CFA5B D5FH9 89@
9A65@5>9 GCB 6=9B GCDCFH58CG DCF 9@
A98=C 5A6=9BH9 MrF97=7@56@9G
CBHF=6IM5 5 A9>CF5F 9@ A98=C
5A6=9BH9 9@=A=B5B8C @CG A5H9F=5@9G 89@
9A65@5>9 89 IB5 A5B9F5 7CBG7=9BH9
)C;5ACG 7CBGI@H9 7CB GI J9B898CF C
@5 5IHCF=858 7CFF9GDCB8=9BH9 F9GD97HC
89 @5rA9>CF A5B9F5 89 9@=A=B57=lB
d
,(
*$
d
$5BH9B;5 5@9>58CG 5 @CG B=kCG H5BHC
89@ 75FHlB 7CAC 89 @CG 89AcG
7CADCB9BH9G 89@ 9A65@5>9 L=GH9
D9@=;FC 89 5G:=L=5 7CB @5 @cA=B5
D@cGH=75 Mr7CB @CG 75FHCB9G
D@9;58CG
<9=9>139^> 45 CE F95:1 =WAE9>1
P#CG J=9>CG 5FH9:57HCG 8CAgGH=7CG BC
GCB 65GIF5 =BG9FJ=6@9 ,BrF97=7@5>9
7CBG7=9BH9 89@ A98=C 5A6=9BH9 DI989
F9;9B9F5F J5@=CG5G A5H9F=5G DF=A5G
d
,(
*$
d
B @CG 5FH9:57HCG EI9 G9 J5B 5rDCB9F
:I9F5 89 G9FJ=7=C 89G7CB97H9 9@
9B7<I:9 DF=B7=D5@ 7CFH9 9@ 756@9 89
F98 M 9@=A=B9 9@ 756@9 >IBHC 7CB 9@
9B7<I:9
'5F5 DF9J9B=F EI9 @CG B=kCG 5@ >I;5F G9
DCB;5B 9B D9@=;FC 5@ EI985F 5HF5D58CG
5G9;IF5FG9 89 EI9 9@ A975B=GAC 89
7=9FF9 89 @5 DI9FH5 9GHg 89G57H=J58C C
89GACBH9 @5 DI9FH5
)?2B5 @B?D5339^>
Ia3?>C5BF139^> 45< =549?
1=295>D5
*I @5J58CF5 IH=@=N5 5;I5 9B9F;i5
Mr89H9F;9BH9 9:=7=9BH9A9BH9
DFCH9;=9B8C 5@ A98=C 5A6=9BH9 M
F98I7=9B8C @CG 7CGHCG 89 GI <C;5F
@ IG5F GI @5J58CF5 89 IB5 A5B9F5
9:=7=9BH9 M 5 @5 J9N F9GD9HICG5 7CB 9@
A98=C 5A6=9BH9
J=H9 IG5F 89A5G=58C 89H9F;9BH9
,H=@=79 89H9F;9BH9G EI9 DCG95B 9@
GiA6C@C  D5F5 IB F9B8=A=9BHC
9@9J58C @5J58CF5G 89 75F;5 :FCBH5@
;F9;I9 9@ 89H9F;9BH9 89 57I9F8C
5@ ;F58C 89 GI7=9858 75BH=858 89
FCD5 M 8IF9N5 89@ 5;I5 M G=;5 @5G
=BGHFI77=CB9G 89@ :56F=75BH9 89@
DFC8I7HC
background

@<93139^>
*I @5J58CF5 9GHc 8=G9k585
9L7@IG=J5A9BH9 D5F5 IGC
8CAgGH=7C
D5F5 @5J5F FCD5 EI9 G9 DI989 @5J5F
5 AcEI=B5 9B 5;I5
D5F5 :IB7=CB5F 7CB 5;I5 7CFF=9BH9
:Fi5 M 75@=9BH9 r° ° M 7CB
89H9F;9BH9G D5F5 FCD5 7CBJ9B7=Cs
B5@9G M 58=H=JCG EI9 G95B 5DFCD=5s
8CG D5F5 IG5F 9B AcEI=B5G @5J5s
8CF5G
AE9@1=95>D? CE=9>9CDB1b
4? 45 6W2B931
L=GH9 IB >I9;C 89 D5FH9G 5779GCF=5G
EI9 G9 GIA=B=GHF5B 7CB>IBH5A9BH9 7CB
@5 AcEI=B5 CBHFC@9 EI9 <5 F97=6=8C
HC85G 9GH5G D5FH9G 7CFF9GDCB8=9BH9 5@
AC89@C 89 AcEI=B5 58EI=F=8C *=r:5@H5B
D5FH9G 7CBH57H9 =BA98=5H5A9BH9 5 GI
J9B898CF
5>DB? 45< D1=2?B C5 5>3E5>DB1>
 $5B;I9F5 89 5@=A9BH57=lB
89r5;I5 D5F5 5;I5 :Fi5
A5F75r5NI@
 $5B;I9F5 89 5@=A9BH57=lB
89r5;I5 D5F5 5;I5 75@=9BH9
A5F75rFC>5
 $5B;I9F5 89 9J57I57=lB D5F5r9@
5;I5
 C@G5 89 @CG 5779GCF=CG Jg5G9
AcG 565>C
"1 2?<C1 45 1335C?B9?C 3?>D95>5
 I6=9FH5G D5F5 7I6F=F @CG CF=:=7=CG
D5F5 @CG D9FBCG 89 HF5BGDCFH9 IB5
J9N EI=H58CG gGHCG
 ,B 7C8C D5F5 GI>9H5F @5 A5B;I9F5
89 G5@=85 89 5;I5 Dr9> 5 IB
@5J56C
 ,B5 @@5J9 D5F5 B=J9@5F
 ,B5 56F5N589F5 D5F5 @5 A5B;I9F5
89 G5@=85 89@ 5;I5
*9;oB 9@ H=DC 89 7CB9L=lB H5A6=gB G9
F9EI=9F9 89
,B5 7CB9L=lB 9B 0 G9r7CBG=;I9
9B @CG B9;C7=CG 89@ F5AC 9B 75GC
EI9 GC@C G9 8=GDCB;5 89 IB5
7CB9L=lB 89 5;I5
+C85 <IA9858 F9G=8I5@ 89BHFC 89@
H5A6CF G9 8969 5 @CG 7CBHFC@9G :=B5@9G
5 EI9 G9 GCA9H9 HC85 AcEI=B5 89 @5J5F
5BH9G 89 EI9 565B8CB5 @5 :c6F=75
*C6F9 @5 D5FH9 DCGH9F=CF 89@
9@97HFC8CAgGH=7C
@ 756@9 89 7CB9L=lB 7CB 9@
9B7<I:9 7CFF9GDCB8=9BH9
7CB9L=lB 89 5;I5 :Fi5
7CB9L=lB 89 5;I5 75@=9BH9
5BB1=95>D1C _D9<5C
#5G G=;I=9BH9G <9FF5A=9BH5G 5MI85B 9B
@5 H5F95
 IB 89GHCFB=@@58CF D@5BC
 #@5J9 89 J5GC   AA
 IB5 @@5J9 79FF585 V AA
 IB B=J9@
#54941C
5  DI@;585G  AA
6  DI@;585G  AA
7  DI@;585G  AA
8  DI@;585G  AA
YB;I@C 89 5D9FHIF5 89
@5 DI9FH5 R
'9GC 5DFCL  @6G  ?;
0?>1 45 9>CD1<139^>
d
,(
*$
d
%IB75 7CB97H9 @5 HCA5 89 H=9FF5 5
HI69Fi5G 89 D@cGH=7C @iB95G 89
HF5BGDCFH9 89 ;5G Cr89 5;I5
75@=9BH9
CD5 5<53DB?4?=ZCD93? 4525
9>CD1<1BC5 C?2B5 E> @9C? 69B=5
3?BB53D1=5>D5 >9F5<14? 45294? 1 <1C
1<D1C F5<?394145C 45 35>DB96E714?
C5<5339?>12<5C )9 C5 9>CD1<1 <1
=WAE9>1 C?2B5 E> @9C? 45 =145B1 ?
C?2B5 E> 5>D1B9=14? ? 5> E>
C?2B5@9C? 4525 B56?BJWBC5<? "?C
BE94?C <1C F92B139?>5C I 5< B95C7? 45
AE5 <1 =WAE9>1 K31=9>5 C5 F5>
1653D14?C @?B <1 5CDBE3DEB1 I
5CD129<9414 45< CE5<? 4?>45 C5 <1
9>CD1<1
*= @5 AcEI=B5 89 @5J5F 8969 =BGH5@5FG9
GC6F9 IB D=GC 89 A589F5 8969 H9B9FG9
9B 7I9BH5 @C G=;I=9BH9
q 9G DCG=6@9 7C@CEI9 @5 AcEI=B5
89 @5J5F 9B IB F=B7lB 89 @5
<56=H57=lB
q HCFB=@@9 IB5 H56@5 89 A589F5
F9G=GH9BH9 5@ 5;I5 7CAC AiB=AC
W 89 9GD9GCF GC6F9 9@rD=GC
q G9;IF9 @CG D=9G 89 @5 AcEI=B5 89
@5J5F A98=5BH9 7CF7<9H9G 89
GI>97=lB >I9;C EI9 G9 C6H=9B9 89@
G9FJ=7=C 5 7@=9BH9G .$1r
q @ 5D5F5HC BC 9G 5897I58C D5F
ACBH5F 9B7=A5 89 CHFCG 5D5F5HCG
background

q @ 5D5F5HC BC 9G 9B75GHF56@9 B=
5897I58C D5F5 ACBH5F 8965>C 89
CHFCG 5D5F5HCG
#?>D1:5 C?2B5 @545CD1<
*= ACBH5 @5 @5J58CF5 GC6F9 IB D989GH5@
89 CG7< %R 89 5779GCF=C .+1 
D5F5 AC89@CG 89 8=GH=BHC 7C@CF IG5F
5779GGCF=C BC .+1* G=;5 @5G
=BGHFI77=CB9G GIA=B=GHF585G 7CB 9@
D989GH5@
i
>CD1<5 5< @545CD1< 1>D5C 45
AE9D1B <?C @5B>?C 45< DB1>C@?BD5
>?4?B?
*= =BGH5@5 @5 @5J58CF5 9B IB HC=@9HH9
C6G9FJ9 @5G 8=GH5B7=5G AiB=A5G G9;oB
@5 H56@5 G=;I=9BH9
=GH5B7=5G AiB=A5G 89 =BGH5@57=lB
./%/2/
9<@ 0<@A.1<@   ::
??6/.   ::
2A?M@   ::
29.;A2   ::
FF=65  GE =B  GE 7A
65>C  GE =B  GE 7A
"9CD1 45
3?=@B?2139^> @1B1
<1 9>CD1<139^>
'c;=B5
)9H=F5F 7CAD@9H5A9BH9 @CG
7I5HFC G9;IFCG 89 HF5BGDCFH9
C@C75F @5 @5J58CF5 9B 9@
@I;5F 89 9AD@5N5A=9BHC
9@9;=8C

7CD@5F @5G A5B;I9F5G 89
5@=A9BH57=lB M 89G5;q9

BHFC8I7=F 9@ 756@9 89
7CB9L=lB 89@ 5D5F5HC 9B @5
HCA5 89 7CFF=9BH9

C@C75F @5 @5J58CF5 9B GI
DCG=7=lB 89:=BH=J5

:97HI5F @5 A9BCF B=J9@57=lB
9B 5@HIF5 DCG=6@9 89 @5
@5J58CF5

BH9G 89 IG5F DCF J9N
DF=A9F5 @5 AcEI=B5 F95@=N5F
IB 7=7@C 89 @5J58C

)131B <?C D?B>9<<?C
45aDB1>C@?BD5
d
+%
969B G575FG9 HC8CG @CG HCFB=@@CG 89
HF5BGDCFH9 5BH9G 89 IH=@=N5F @5
@5J58CF5 DCF DF=A9F5 J9N
;I5F8cB8CG9@CG D5F5 IB HF5BGDCFH9
DCGH9F=CF D 9> 9B 75GC 89
AI85BN5
q :@C>5F @CG 7I5HFC HCFB=@@CG 5BH9G 89
F9H=F5F @CG 89AcG HCFB=@@CG 89@
5D5F5HC
q )9H=F5F DF=A9FC @CG 8CG HCFB=@@CG =B:9s
F=CF9G M 5 7CBH=BI57=lB @CG 8CG HCFB=@s
@CG GID9F=CF9G
q :@C>5F @CG HCFB=@@CG 7CB @5 6C75 9B
9GHF9@@5 89 @5 @@5J9 89 V GIA=B=Gs
HF585 7CB 9@ 5D5F5HC :@C>5F@CG <5GH5
DC89F F9H=F5F@CG @=6F9A9BH9
q #CG HCFB=@@CG =B:9F=CF9G 9ADCHF58CG
G9 DI989B 5:@C>5F 7CB AcG :57=@=858
IH=@=N5B8C IB5 @@5J9 89 J5GC 89 V
6C75 89  AA
q :@C>9 @CG HCFB=@@CG IG5B8C @5 @@5J9 89
V DFCJ=GH5 <5GH5 EI9 G9 DI985B
ACJ9F @=6F9A9BH9
q (I=H9 7CAD@9H5A9BH9 @CG D9FBCG
D9FBC F9GCFH9 5F5B89@5 M @CG 6I>9G
=BHFC8I7=9B8C @5 A5BC 5rHF5JgG 89 @5
DI9FH5 89 @5 AcEI=B5 89 @5J5F M
HF=5B8C 9@ H5A6CF @=;9F5A9BH9 <57=5
89@5BH9
q *= @CG 6I>9G BC G5@9B 5@ EI=H5F @CG
HCFB=@@CG JI9@J5 5 =BHFC8I7=F @CG
A=GACG BI9J5A9BH9 9B @CG 6I>9G
=BH9BH5B8C @I9;C BI9J5A9BH9 7CB
7I=858C G =ADCFH5BH9 9:97H5F 9GH5
CD9F57=lB 7CB @CG HCFB=@@CG 89 @C
7CBHF5F=C @CG 6I>9G BC G5@9B
5897I585A9BH9
q CB C6>9HC 89 ;I5F85F @CG HCFB=@@CG
D5F5 IB DCG=6@9 IGC DCGH9F=CF BC
8969FcB G9D5F5FG9 89 @CG A5B;I=HCG
89 D@cGH=7CG
q BG9FH9 @5G 7C69FHIF5G <5GH5 EI9
EI989B HF56585G 7CB IB GCB=8C
5I8=6@9
<=135>1=95>D? 45 <?C @5B>?C
45 DB1>C@?BD5
I5F89 G=9ADF9 @CG D9FBCG 89 HF5BGs
DCFH9 D5F5 8=GDCB9F 89 9@@CG 9B 75GC
89 HF5BGDCFH9G DCGH9F=CF9G D 9> 9B
75GC 89 AI85BN5
q I5F89 @CG D9FBCG 89 HF5BGDCFH9
7CB>IBH5A9BH9 7CB @5G 5F5B89@5G M
@CG 6I>9G 7C@C758CG
background

"?>79DE45C 45 312<5C I =1>7E5B1C
?>5H9^> 81391 <1 9JAE95B41 ?>5H9^> 81391 <1 45B5381
/
0
.
2
4
3
5
1
5
1
5  DI@;585G  7A 5DFCL
6  DI@;585G  7A 5DFCL
7  DI@;585G  7A 5DFCL
8  DI@;585G  7A AcL
9  DI@;585G  7A 5DFCL
:  DI@;585G  7A 5DFCL
;  DI@;585G  7A 5DFCL
<  DI@;585G  7A 5DFCL
< @HIF5 AiB=A5 89 @5 G5@=85 89 5;I5
%DB1C =1>7E5B1C
'FCJ=GH5G DCF @CG J9B898CF9G
89r9@97HFC8CAgGH=7CG
$5B;I9F5 89 5@=A9BH57=lB
89rA5MCF @CB;=HI8 5DFCL 
DI@;585G  A
?>5H9^> 45 17E1
<9=5>D139^> 45 17E1
+%
#5 AcEI=B5 89 @5J5F 8969 IH=@=N5FG9
oB=75A9BH9 7CB 5;I5 :Fi5 M 75@=9BH9
 S  S %Cr7CB97H9 9@
9@97HFC8CAgGH=7C 5 IB A9N7@58CF
89 IB 75@9BH58CF 89 5;I5 BC
DF9GIF=N58C
*= H=9B9 8I85G <5;5 7CB97H5F @5
=BGH5@57=lB 89 5;I5 DCF IB Hg7B=7C
5IHCF=N58C
#5G A5B;I9F5G 89 5;I5 BC 8969B
C6@5FG9 C 5D@5GH5FG9
$C8=:=75FG9 C 7CFH5FG9 BCrDI989
;5F5BH=N5FG9 @5 9GH56=@=858 9B 9GH9
75GC
#5G FCG75G 89 D@cGH=7C 8969B 5>IGH5FG9
GC@5A9BH9 5 A5BC %CrEI=H9 @CG :=@HFCG
89 @5G A5B;I9F5G 89 5@=A9BH57=lB
89r5;I5
&6G9FJ9 @5 DF9G=lB 9B @5 F98 89
5@=A9BH57=lB
#5 DF9G=lB 89 5;I5 8969
9B7CBHF5FG9 7CADF9B8=85 9BHF9
 M  DG=  M  65F 7CB 9@
;F=:C 56=9FHC 8969B :@I=F 7CAC
AiB=AC  ;5@CB9G ,*  @=HFCG
DCF A=BIHC
969 =BGH5@5FG9 IB5 Jc@JI@5
F9;I@58CF5 G= @5 DF9G=lB 89 5;I5
9L7989 9@ AcL=AC 58A=H=8C
+%
'5F5 DF9J9B=F 85kCG C75G=CB58CG
DCF 9@ 5;I5 @5GrJc@JI@5G 89 5;I5
H5BHC 75@=9BH9 7CAC :Fi5 8969B G9F
5779G=6@9G 7CB @5 AcEI=B5
9AD@5N585 M 8969B D9FA5B979F
79FF585G G= @5 AcEI=B5 BC 9GHc 9B
IGC
+%
*= @5 AcEI=B5 89 @5J5F G9 =BGH5@5 9B
IB 98=:=7=C BI9JC Cr8CB89 G9 <5
=BGH5@58C F97=9BH9A9BH9 @5 HI69Fi5
Cr9:97HI58C AC8=:=757=CB9G 9B @5
A=GA5 8969 <579FG9 7CFF9F
56IB85BH9 5;I5 5BH9G 89 7CB97H5F
@5 @5J58CF5 5 :=B 89 9@=A=B5F @5 5F9B5
M CHFCG H=DCG 89 GI7=9858 89 @CG
HI6CG
?>5H9^>
?>5H9^> 45 17E1 6B\1 I
?>5H9^> 45 17E1 31<95>D5
=WH  °  °
q #CG 57CD@5A=9BHCG 89 D@cGH=7C 89
@5G A5B;I9F5G 89 5@=A9BH57=lB M
89G5;q9 89@ 5;I5 9B @5 D5FH9
DCGH9F=CF 89@ 5D5F5HC Gl@C 8969FcB
5DF9H5FG9 =1>E1<=5>D5 %C
F9H=F5F @CG :=@HFCG 89 @5 A5B;I9F5 89
5@=A9BH57=lB 89@ 5;I5
-*.
--
q 9GDIgG 89 @5 7CB9L=lB
56F5 7CAD@9H5A9BH9 @CG ;F=:CG M
J9F=:=EI9 EI9 @5G 7CB9L=CB9G BC
DF9G9BH9B DgF8=85G
d
+%
#CG DIBHCG 89 7CB9L=lB 9GHcB
GCA9H=8CG 5 @5 DF9G=lB D@9B5 89r@5
HI69Fi5 CBHFC@9 @5 9GH5BEI9=858
7CB @CG ;F=:CG 7CAD@9H5A9BH9
56=9FHCG
background

)1<941 45< 17E1
+%
%C 8C6@9 BC H=F9 89 @5G A5B;I9F5G
#5 8=:9F9B7=5 89 5@HIF5 9BHF9 9@ DIBHC
89 9AD@5N5A=9BHC 89 @5 AcEI=B5 M 9@
DIBHC 89 8F9B5>9 8969rG9F 89 IB
AcL=AC 89 D=9G  7A AiB=A5 89
D=9G  7A
?>5H9^> 45 <1 =1>7E5B1
45a4B5>1:5 45 17E1
q $? B5D9B1B 3?=@<5D1=5>D5 5<
D?B>9<<? 45 <1 12B1J145B1 *C@H5F
9@ HCFB=@@C Gl@C @C B979G5F=C D5F5
EI9 @5 56F5N589F5 G9 89G@=79
@=6F9A9BH9 DCF 9B7=A5 89 @5
A5B;I9F5 89 89G5;q9
 9G@=N5F @5 56F5N589F5 DCF 9B7=A5
89@ 9LHF9AC 89 @5 A5B;I9F5 89
89G5;q9 5BH9G 89 57CD@5F@5 5@
5D5F5HC
 7CD@5F @5 A5B;9F5 89 895;q9 9B
9@ 7CB9L=lB 89 89G5;q9 9B @5 D5FH9
DCGH9F=CF 89@ 5D5F5HC C@C75F @5
56F5N589F5 5 5DFCL AA 89
8=GH5B7=5 89@ 9LHF9AC 89 @5
A5B;I9F5
 =>5F @5 56F5N589F5 7CB 5MI85 89
IB 89GHCFB=@@58CF
>CD1<139^> 5> E> DE2? F5BD931<
q ,H=@=79 9@ 7C8C *I>9H9 9@ 7C8C 5@
9LHF9AC 89 @5 A5B;I9F5 9r=BG9FH9
8=7<C 9LHF9AC 9B 9@ HI6C J9FH=75@
q ,H=@=79 IB <=@C C IB DF9BG5756@9G
D5F5 A5BH9B9F @5rA5B;I9F5 9B
DCG=7=lB
>CD1<139^> 5=2ED941
q ,H=@=79 9@ 7C8C C@CEI9 9@ 7C8C 9B
9@ 9LHF9AC 89 @5 A5B;I9F5 9
=BG9FH9 5 8=7<C 9LHF9AC 9B 9@ HI6C
9A6IH=8C
q BHFC8I7=F 5@ AcL=AC @5 A5B;I9F5 M
9@ 7C8C 9B @5 A5B;I9F5 89
89G5;q9 56=9FH5 9B 75GC 89 <569F
CDH58C DCF 9@ 9AD@5N5A=9BHC
ACGHF58C 9B @5 :=;IF5 GID9F=CF
q ,H=@=79 IB <=@C C IB DF9BG5756@9G
D5F5 A5BH9B9F @5rA5B;I9F5 9B
DCG=7=lB
B5>1:5 5> E> C96^>
q G9;IF9 9@ DIBHC 89 7CB9L=lB
A98=5BH9 IB5 56F5N589F5 D5F5
A5B;I9F5 BC =B7@I=85 9B 9@
JC@IA9B 89 9BHF9;5
B5>1:5 5> E> <1F12?
+%
G9;oF9G9 EI9 9@ H5DlB BC G9
9B7I9BHF9 7C@C758C 9B 9@ CF=:=7=C
q *I>9H9 @5 A5B;I9F5 89 8F9B5>9
:=FA9A9BH9 7CBHF5 9@ @5J56C
q ,H=@=79 IB <=@C C IB DF9BG5756@9G
D5F5 A5BH9B9F @5rA5B;I9F5 9B
DCG=7=lB
q CBHFC@9 EI9 9@ 5;I5 DI985 G5@=F
5897I585A9BH9 89@ @5J56C
8IF5BH9 9@ DFC79GC 89 8F9B5>9
?>5H9^> 5<Z3DB931
$)*(+%$) &(
"a&+)* *((
@ 9@97HFC8CAgGH=7C 8969 7CB97H5FG9 5
H=9FF5 B 75GC 89r:5@@CG 9B 9@
:IB7=CB5A=9BHC CrFIDHIF5G @5 7CB9L=lB
89 DI9GH5 5rH=9FF5 F98I7=Fc 9@ D9@=;FC 89
89G75F;5G 9@g7HF=75G DFCJ9M9B8C IB5
Ji5 89 A9BCF F9G=GH9B7=5 5 @5 7CFF=9BH9
GH5 AcEI=B5 9GHc 9EI=D585 7CB IB
756@9 EI9 7CBH=9B9 IB 7CB8I7HCF 89
DI9GH5 5rH=9FF5 M IB 9B7<I:9 7CB @5
7CB9L=lB 7CFF9GDCB8=9BH9 @r9B7<I:9
8969 7CB97H5FG9 5 IB HCA57CFF=9BH9
5DFCD=58C EI9 9GHg =BGH5@58C M
7CB97H58C 5 H=9FF5 89 57I9F8C 7CB
HC85G @5G BCFA5G MrCF89B5BN5G @C75@9G
d
,(
*$
d
#5 7CB9L=lB =B7CFF97H5 5rH=9FF5 89@
756@9 7CFF9GDCB8=9BH9 89@ 9EI=DC
DI989 G9F 75IG5 89 89G75F;5G
@g7HF=75G 5;5 7CBHFC@5F 9@
9@97HFC8CAgGH=7C DCFrIB Hg7B=7C
75@=:=758C CrHg7B=7C 89 G9FJ=7=C G=
H=9B9 8I85G F9GD97HC 89 @5 7CFF97H5
7CB9L=lB 5 H=9FF5 89 @5 @5J58CF5
%C AC8=:=EI9 9@ 9B7<I:9 DFCJ=GHC 7CB 9@
9@97HFC8CAgGH=7C B 75GC EI9 BC
DI985 7CB97H5F@C 5@ HCA57CFF=9BH9G
<5;5 7C@C75F IB HCA57CFF=9BH9G
5DFCD=58C DCF IB 9@97HF=7=GH5 75@=:=758C
background

d
,(
*$
d
#5 AcEI=B5 89 @5J5F 8969
7CB97H5FG9 5 IB F5A5@ =B8=J=8I5@ 89@
7=F7I=HC 9@g7HF=7C 5 HF5JgG 89 IB
HCA57CFF=9BH9G EI9 <5 G=8C
5897I585A9BH9 =BGH5@58C
Mr7CB97H58C 5 H=9FF5
@ JC@H5>9 89 @5 =BGH5@57=lB 8CA=7=@=5F=5
8969 7C=B7=8=F 7CB 9@ JC@H5>9
9GD97=:=758C 89 @5 AcEI=B5 89 @5J5F
J9F @5 7<5D5 89 75F57H9FiGH=75G 9B
Dc;=B5 
#5G 9GD97=:=757=CB9G 89 @5 7CB9L=lB M
@CG :IG=6@9G F9EI9F=8CG G9 9GH=DI@5B 9B @5
7<5D5 89 75F57H9FiGH=75G
/,43
&249 -0&2&3 "4*/3
   
:ME
G9;oF9G9 EI9
9@ 9B7<I:9 EI9D5 9B
9@rHCA57CFF=9BH9G
@5 G977=lB 89 @CG 756@9G G95
GI:=7=9BH9
9@ G=GH9A5 89 DI9GH5 9 H=9FF5 9GHg
7CFF97H5A9BH9 =BGH5@58C
@ 756@9 89 5@=A9BH57=lB 8969
F99AD@5N5F@C 9L7@IG=J5A9BH9
IBr9@97HF=7=GH5
@ G9FJ=7=C 5 7@=9BH9G 8=GDCB9 89r756@9G
D5F5 9@ F975A6=C
d
,(
*$
d
:=B 89 F98I7=F 9@ D9@=;FC =B79B8=CG
C 89 89G75F;5G 9@g7HF=75G %&
 ,*)* IB 756@9 89
DFC@CB;57=lB C IB 585DH58CF D5F5
7CB97H5F @5 @5J58CF5 5 @5
5@=A9BH57=lB 89 9B9F;i5
*= 8969 IH=@=N5FG9 IB =BH9FFIDHCF
8=:9F9B7=5@ =BGH5@9 oB=75A9BH9 IB5
IB=858 A5F7585 7CB 9@ G=;I=9BH9
GiA6C@C 7
*C@5A9BH9 9GH9 GiA6C@C ;5F5BH=N5 IB
7CFF97HC :IB7=CB5A=9BHC 89 57I9F8C
7CB HC85G @5G F9;@5A9BH57=CB9G 89
7CFF=9BH9
%C 7CB97H9 B= 89G7CB97H9 9@ 9B7<I:9
7CB @5G A5BCG <oA985G
+CEI9 9@ 9B7<I:9 oB=75A9BH9 G=r@CrJ5 5
89G7CB97H5F 89@ HCA57CFF=9BH9G
&B?3549=95>D?
45a>9F5<139^>
 @ 9@97HFC8CAgGH=7C 8969
9B7CBHF5FG9 5<CF5 9B GI DCG=7=lB
89:=B=H=J5 DF9D5F58C D5F5 G9F
B=J9@58C ACJ9F@C 89GDIgG 89 GI
B=J9@757=lB DI989 89>5F@C
BI9J5A9BH9 89GB=J9@58C
585 D5H5 89 @5 @5J58CF5 C 89 @5
65G9 8969 9B7CBHF5FG9
:=FA9A9BH9 5DCM58C 9B 9@ GI9@C 5
:=B 89 DF9J9B=F 9@ H5A65@9C
CA9BN5F 7CB @5G 7I5HFC D5H5G
9BFCG7585G H5BHC 7CAC G95
DCG=6@9 JC@J=9B8C 5
89G9BFCG75F@5G @5 75BH=858
B979G5F=5 5 :=B 89 B=J9@5F @5
@5J58CF5
 ,H=@=N5F 9@ B=J9@ D5F5 B=J9@5F 9@ :F9BH9
F9GD97HC 89 @5 D5FH9 DCGH9F=CF M IB
@58C F9GD97HC 89@ CHFC 89 @5
@5J58CF5 5G9;IF5FG9 EI9 9@ B=J9@
5G=9BH9 GC6F9 @5G 9GEI=B5G 89 @5
@5J58CF5 M BC G9 9B7I9BHF5
9@9J58C 9B IB 9LHF9AC F9GD97HC
89@ CHFC 9B IB5 89DF9G=lB 89 @5
GID9F:=7=9 89 @5 @5J58CF5
 >IGH5F @5 B=J9@57=lB 89 @5 @5J58CF5
A98=5BH9 @5G 7I5HFC D5H5G 89
5@HIF5 5>IGH56@9 >IGH5F @5
B=J9@57=lB 5 @5 A9BCF 5@HIF5
DCG=6@9 5 :=B 89 F98I7=F @5
J=6F57=lB
d
+%
') - +) ) *& 
#* &%* t +9B;5 7I=858C
A=9BHF5G IG5 @5 @@5J9
q :@C>5F @5 7CBHF5HI9F75 9B @5
=@IGHF57=lB ;=F5B8C 9B G9BH=8C
<CF5F=C ,H=@=N5F @5 @@5J9 EI9
:CFA5 D5FH9 89@ JC@IA9B 89
9BHF9;5 C IB5 @@5J9 56=9FH5 89
 AA *= G9 <579 ;=F5F
5<CF5 @5 7CBHF5HI9F75 @5 D5H5
GI>9H5 5 9@@5 9B @5 =@GHF57=lB
;=F5 7CB 9@@5 GHC 5@5F;5Fc @5
D5H5
q 9G9BFCG75B8C @5 D5H5
G9BH=8C <CF5F=C G9 9@9J5Fc @5
9GEI=B5 89 @5 @5J58CF5
9BFCG7cB8C@5 G9BH=8C
5BH=<CF5F=C @5 9GEI=B5
7CFF9GDCB8=9BH9 89G79B89Fc
*= @5 9GEI=B5 G9 9B7I9BHF5 5 @5
5@HIF5 5897I585 5>IGH5F @5 D5H5
9B 9G5 DCG=7=lB ;=F5B8C @5
7CBHF5HI9F75 9B G9BH=8C
5BH=<CF5F=C <5GH5 EI9 EI989
7CFF97H5A9BH9 5>IGH585 7CBHF5
@5 75F75G5 89 @5 @5J58CF5
i
'I989 G9F B979G5F=C
GI>9H5F @5 D5H5 89 @5
@5J58CF5 7CB IB5G H9B5N5G
5 :=B 89 9J=H5F EI9 ;=F9
A=9BHF5G G9 5>IGH5 @5
7CBHF5HI9F75 *= @5 D5H5
DI989 ;=F5F @5 9GEI=B5
AC8=:=75Fc GI 5@HIF5
q ,B5 J9N 9:97HI58CG @CG 5>IGH9G
DF9@=A=B5F9G DF9G=CB5F GC6F9
7585 9GEI=B5 89 @5 @5J58CF5 5
:=B 89 5G9;IF5FG9 EI9 BC
H5A65@99 *= H5A65@95 65>5F @5
D5H5 89 @5 9GEI=B5 9B 7I9GH=lB
<5GH5 EI9 HC75 9@ GI9@C
:=FA9A9BH9
 ,H=@=N5F IB B=J9@ 89 6IF6I>5  C
A9BCF 89 @CB;=HI8 5 :=B 89
89H9FA=B5F 9@ 9GH58C 89 B=J9@57=lB
89 @5 @5J58CF5
q C@C75F 9@ B=J9@ 89 6IF6I>5G 9B
8=5;CB5@ GC6F9 9@ 5D5F5HC M
J9F=:=75F G= 9GHc B=J9@58C
q *= @5 6IF6I>5 G9 9B7I9BHF5 9B 9@
79BHFC 89@ B=J9@ 9@ 5D5F5HC 9GHc
B=J9@58C 9 @C 7CBHF5F=C <56Fc
EI9 AC8=:=75F 9@ 5>IGH9 9B
5@HIF5 89@ GCDCFH9 5:97H58C H5@
7CAC G9 <5 9LD@=758C
5BH9F=CFA9BH9 <5GH5 EI9 9@
5D5F5HC 9GHg B=J9@58C ,B
7CBG9>C DFc7H=7C *= @5 6IF6I>5
G9 9B7CBHF5F5 AcG 79F75 89 IB
@58C EI9 89@ CHFC 9GHC G=;B:=75
EI9 8=7<C @58C 9GHc AcG 5@HC
'5F5 B=J9@5F 9@ 5D5F5HC 65>5F 9@
@58C AcG 5@HC C 9@9J5F 9@ @58C
CDI9GHC
q +F5G F95@=N5F @5 B=J9@57=lB 89@
5D5F5HC 89 IB @5H9F5@ 5@ CHFC
;=F5F 9@ B=J9@ 89 6IF6I>5G 9B R
M F9D9H=F @5 CD9F57=lB
background

 :97HI5F IB 5>IGH9 :=BC 89 @5
B=J9@57=lB 89 @5 @5J58CF5
7C@C75B8C IB5 75BH=858 F98I7=85
89 FCD5 9B 9@@5 579F@5 A5F7<5F
9B @ DFC;F5A5 89 79BHF=:I;58C
B=J9@5B8C @I9;C BI9J5A9BH9
i
B 75GC 89 =BH9FFIAD=F
A5BI5@A9BH9 9@ 7=7@C 89
79BHF=:I;58C 89 9BG5MC 5BH9G 89
GI 7CB7@IG=lB @5 DI9FH5 89 75F;5
DI989 D9FA5B979F 6@CEI9585
8IF5BH9  G9;IB8CG
*B1>C@?BD5 3?=? 5>
5<a31C? 45 =E41>J1
BH9G 89 HF5BGDCFH5F @5 AcEI=B5
89r@5J5F
=9FF9 @CG ;F=:CG 89 5;I5
9G7CB97H9 @5 AcEI=B5 89r@5J5F
89@ HCA57CFF=9BH9
9GACBH9 @5G A5B;I9F5G
89r5@=A9BH57=lB M 89 8F9B5>9
C@CEI9 @CG D9FBCG 89 HF5BGDCFH9
i
,B5 J9N HF5BGDCFH58C 9@
9@97HFC8CAgGH=7C M 89GDIgG
89r<569FG9 5G9;IF58C EI9 @5
=BGH5@57=lB M 7CB9L=lB :I9
9:97HI585 7CFF97H5A9BH9 <5;5
7CFF9F 9@ DFC;F5A5 B19> 5BH9G 89
5FF5B75F 9@ DF=A9F DFC;F5A5 89
@5J58C
&B5@1B139^> I 3?<?3139^>
45a<?C @5B>?C 45 DB1>C@?BD5
q (I=H9 @5G 7C69FHIF5G
q 'F9D5F9 @CG D9FBCG 89 HF5BGDCFH9
5:@C>9 9@ HCFB=@@C 9B @5 :IB85 <5GH5
EI9 9@ 9LHF9AC 89@ A=GAC G9 B=J9@9
7CB @5 :IB85
q BG9FH9 M 5>IGH9 HC8CG @CG D9FBCG
89 HF5BGDCFH9#5 97@=G5 89@ 6I@lB
8969 I6=75FG9 9B @5 F9BIF5 89@
D5B9@ DCGH9F=CF 89 @5 75F75G5
background

$)*(+%$)  +$%$#$*%
)E >E5F1 <1F14?B1
.?4. 12 12A2?42;A2 =.?. 9. ?<=. F< .16A6C<@ 2;
9<@ 0<:=.?A6:62;A<@ 0<??2@=<;162;A2@
/?6? 9. =B2?A. 0<; 9. :.?0. 2; 0<9<?2
F 02??.? 9. =B2?A.
d+% 5< @1>5< 45 1335C? E29314? 5> <1 @1BD5 9>65B9?B 45B5381 45 <1 <1F14?B1 5C 5H3<EC9F1b
=5>D5 @1B1 D1B51C 45 C5BF935 I 4525 C5B 1295BD? C?<1=5>D5 @?B @5BC?>1< 452941=5>D5 1ED?B9J1b 4?
I 31@139D14?
background

&1>5< 45 3?>DB?<
/4/.&3 0"2" /0$*/.&3 "%*$*/.",&3
.1606<;.9:2;A2 .9 =?<4?.:. 2; 0.@< 12 ;[email protected]
,&"$) ,".15&"%/ @2 .4?24. B; 0609< 12 /9.;>B2.1< .9
=?<4?.:. @292006<;.1<
*.3& 0,53 $,"2"%/ "%*$*/.", B; 0609< 12 .09.?.1<
.1606<;.9
&"68 %548 ,"6%/ 0/4&.$*"%/ 6;0?2:2;A. 29 A62:=< 12
9.C.1< 2; 0.@< 12 0.?4.@ @B:.:2;A2 @B06.@
&B212; .4?24.?@2 0<:/6;.06<;2@ .?/6A?.?6.@ 12 <=06<;2@
.1606<;.92@ 2; 0B.9>B62? :<:2;A<
0$*@. "%*$*/.", 3&,&$$*/."%"
(2 2;062;12 9. 9BG ?<7. 0<??2@=<;162;A2
,*-*."2 ," /0$*@. "%*$*/.", %& ," 3&,&$$*@.
+B29C. . =?2@6<;.? 29 /<AV; 0<??2@=<;162;A2 ". 9BG 2; 0B2@A6V;
@2 =.4.?M
*30,"8
(2 [email protected]. 29 A62:=< &"%8 *. 96@A< 2; @6 5.F B; =?<4?.:.
@292006<;.1<
(2 [email protected]. 29 A62:=< 4"24 *. .??.;>B2 2; 0.@< 12 5./2?
@292006<;.1< 9. <=06V; &,"8 4"24
/4@. 4"24"53& 22".15&0"53"
??.;0. < =.?. 29 0609< 12 9.C.1< .;A2@ 12/2
5./2?@2 @292006<;.1< B; =?<4?.:.
5$&3 *.%*$"%/2"3
". 9BG 6;160.1<?. 02;A2992. =B212; 0.:/6.?@2
9<@ .7B@A2@ =B212 6;606.?@2 29 0609< 12 9.C.1<
9. =B2?A. 2@AM /9<>B2.1. =<? ?.G<;2@ 12
@24B?61.1 < /62; 29 =?<4?.:. 2@AM 2; 29 :<1<
12 =.B@.
". 9BG 6;160.1<?. ?<7. 2@AM 2;02;161.
29Z=?<4?.:. 2@AM 2; :.?05. F =B212
6;A2??B:=S?@29< :216.;A2 H&.B@2
". 9BG 6;160.1<?. 2@AM .=.4.1. 29Z=?<4?.:.
5. 0<;09B61< < ;< 5.F =?<4?.:. @292006<;.1
/4@. &,"8 4"24
9 A62:=< 12 &,"8 4"24 A62:=< =.?. 29 .??.;>B2 =B212 ?2A?.@.?@2
2;Z5<?.@ 5.@A. B; :ME6:< 12  5@ 2; 0.@< 12 ;[email protected]
9 16@=9.F [email protected].?M 29 A62:=< 12 4"24 *.
/4@. 0*. 3&,&$4*/. 3&,&$$*@. %& $&.42*'5("%/
&.?. 0.:/6.? 9. C29<061.1 12 02;A?63B4.1< @6 2@ ;202@.?6< (2Z2;062;12
9. 9BG ?<7. 12 9. C29<061.1 12 02;A?63B4.1< @292006<;.1.
&,&$4/2 %& 02/(2"-"3
;062;12 < .=.4. 9. :M>B6;. F @292006<;. 29 =?<4?.:.
&B212 46?M?@29< 2; .:/.@ 16?2006<;2@
9 @2920A<? 12 =?<4?.:.@ ;< 46?. :62;A?.@ 5.F B; =?<4?.:.
2; 0B?@< ". @20B2;06. 129 =?<4?.:. @2 0<;A?<9.
2920A?V;60.:2;A2
5$&3 *.%*$"%/2"3
". 9BG %//2 ,/$+&% 2@AM 2;02;161. @6 5.F B; =?<4?.:. @292006<;.1< F
@2 5. .006<;.1< 29 /<AV; &,"8 4"24
".@ 9B02@ 7"3) 9.C.1< 2*.3& .09.?.1< F 30*. 02;A?63B4.1<
@2Z2;062;12; @6 2@AM; .0A6C<@ 9<@ @24:2;A<@ 12 =?<4?.:.@ 12 ".C.1<
09.?.1< F 2;A?63B4.1< ?2@=20A6C.:2;A2 ". 9BG '*.*3)&% @2 2;062;12
0B.;1< 29 =?<4?.:. 5. 0<;09B61<
I(6 B;. 9BG 02;A2992. 5. <0B??61< B; 3.99< 12 <=2?.06V;
background

(5CE=5> 45 9>CDBE339?>5C
d 4F5BD5>391
BH9G 89 DCB9F 9B A5F7<5 GI AcEI=B5
89 @5J5F @95 M 7IAD@5 7CBrHC85G @5G
=BGHFI77=CB9G 89 =BGH5@57=lB M
:IB7=CB5A=9BHC
&B5@1B1B <1 B?@1
2B9B
)5<5339^> 45 E> @B?7B1=1
I 1BB1>AE5 45 <1 =WAE9>1
1=29? 45 <?C 1:ECD5C
&?B 5:5=@<? <1 F5<?39414
45 35>DB96E714?
I 1BB1>AE5
5C@EZC 45< <1F14?
5BB1B
background

>D5C 45< @B9=5B
EC?
#5 AcEI=B5 89 @5J5F 8969
9GH5Fr7CFF97H5A9BH9 =BGH5@585
Mr7CB97H585 J9F Dc;=B5 
BH9G 89 IG5F @5 AcEI=B5 89 @5J5F DCF
DF=A9F5 J9N
q G9;oF9G9 EI9 9@ JC@H5>9 5D@=758C
G95 9@ EI9 G9 =B8=75 9Br@5 7<5D5
89 75F57H9FiGH=75G
q G9;oF9G9 EI9 @5G Jc@JI@5G D5F5 9@
5;I5 9GHgB 7CFF97H5A9BH9
7CB97H585G Mr9GHgB 56=9FH5G
&B9=5B EC?
&B9=5B 393<? 45 <1F14? C9>
B?@1
*I 9@97HFC8CAgGH=7C :I9 7CBHFC@58C 9B
:c6F=75 '5F5 5G9;IF5F IB @5J58C
7CFF97HC 7CB GI DF=A9F5 75F;5 9:97Ho9
=B=7=5@A9BH9 IB 7=7@C 89 @5J58C
7CAD@9HC G=B 7C@C75F DF9B85G 9B @5
AcEI=B5
q %C 75F;I9 FCD5 5@;IB5
q 6F5 @CG ;F=:CG 89 5;I5
q 6F5 @5 H5D5 89@ 7CAD5FH=A=9BHC
D5F5 9@r89H9F;9BH9
q 'CB;5 5DFCL EI5FH  @=HFC 89
5;I5 89BHFC 89@ 7CAD5FH=A=9BHC
D5F5 9@ 89H9F;9BH9 -9F Dc;=B5 
q C@CEI9 89 5 H56@9H5G 89
89H9F;9BH9 9B @5 7cA5F5
7CFF9GDCB8=9BH9
i
%C IH=@=79 89H9F;9BH9G 9GD97=5@9G
9GHCGr89H9F;9BH9G DFC8I79B
89A5G=585 9GDIA5
q =9FF9 @5 H5D5 89@ 7CAD5FH=A=9BHC
D5F5 89H9F;9BH9
q =9FF9 @5 DI9FH5
q C@CEI9 9@ G9@97HCF 89 DFC;F5A5G
9B (57E<1B?DD?> 8?D
@ =B8=758CF @IA=BCGC FC>C
)D1BD&1EC5 FC>C 79BH9@@95
q 'F9G=CB9 9@ 6CHlB )D1BD&1EC5
@ DFC;F5A5 5FF5B75Fc
#5 @IN =B8=758CF5 FC>5
9GHcr9B79B8=85
i
@ 8=GD@5M =B8=75 9@ H=9ADC D5F5 @5
:=B5@=N57=lB 89@ DFC;F5A5
I5B8C 9@ 8=GD@5M =B8=75 O0:00
q 6F5 @5 DI9FH5
q =F9 9@ G9@97HCF 89 DFC;F5A5G
5r%66
&B5@1B1B <1 B?@1
+%
&6>9HCG GI9@HCG ACB985G 6FC7<9G
D5F5 D5D9@ 7@5JCG IrCHFCG C6>9HCG
8IFCG DI989B 85k5F @5G DF9B85G C
D5FH9G 89 @5rAcEI=B5 89 @5J5F D 9>
9@ H5A6CF
q -57i9 @CG 6C@G=@@CG
q 9D=@@9 D5F5 9@=A=B5F <=@57<5G
MrGI7=9858
q =9FF9 @CG 7=9FF9G @CG 6CHCB9G Mr@CG
;5B7<CG
q (I=H9 @5G 7CFF989F5G 89 @5G
7CFH=B5G C 7C@lEI9@5G 5 HC85G
>IBH5G 9B IB5 F98
q (I=H9 5;I>5G 6CHCB9G <96=@@5G M
CHFCG C6>9HCG EI9 DI989B F5M5F 9@
=BH9F=CF 89 @5 @5J58CF5
q (I=H9 58CFBCG M CFB5A9BHCG
BCr@5J56@9G
q =F9 9@ =BH9F=CF 89 H9>=8CG 89 DIBHC
G=BHgH=7CG <57=5 :I9F5 5r:=B 89
9J=H5F EI9 G9 5FFI=B9
q +F5H9 @5G A5B7<5G
'5F5 9J=H5F @5 DgF8=85 C 85kCG 9B @5
FCD5 @5G DF9B85G G=;I=9BH9G 8969B
7C@C75FG9 9B IB5 F98
q *CEI9H9G 89 696g DF9B85G
D9EI9k5G
q )CD5 =BH9F=CF C 89 DIBHC
q =BHIFCB9G
q 'F9B85G iH=A5G :9A9B=B5G 9@
@5J58C 8=F97HC 9B @5 @5J58CF5 @5G
7=BH5G DI989B GC@H5FG9 8IF5BH9 9@
@5J58C 75IG5B8C 85kCG
)5<5339?>1B <1 B?@1
5 13E5B4? 1< 3?<?B I 5< 7B14?
45aCE395414
+%
#5G DF9B85G DI989B 897C@CF5FG9
%IB75 @5J9 DF9B85G BI9J5G
AI@H=7C@CF >IBH5A9BH9 7CB CHF5G
DF9B85G
'F9B85G 6@5B75G DI989B DCB9FG9
;F=G9G #5J9 G=9ADF9 DCF G9D5F58C @5
FCD5 6@5B75 M 5EI9@@5 89 7C@CF
B14?C 45 CE395414
)E395414 <5F5
*I7=9858 BC F97CBC7=6@9 CrA5B7<5G
)CD5 EI9 <I9@9 5r7I9FDC
)CD5 @=J=5B5 89 J9F5BC
5A=G5G D@5M9F5G 75A=G5G
Mr6@IG5G EI9 <5B G=8C IG585G DCF
A9BCG 89 IB 8i5
*c65B5G M HC5@@5G EI9 :I9FCB
IG585G DCF IB 8i5
)E395414 >?B=1<
*I7=9858 J=G=6@9 MC A5B7<5G
:c7=@A9BH9 F97CBC7=6@9G
5A=G5G D@5M9F5G 75A=G5G
Mr6@IG5G AIM GI8585G CrIG585G
J5F=5G J979G
+C5@@5G 89 65kC C 89 A5BC
MrGc65B5G EI9 :I9FCB IG585G DCF
IB H=9ADC 89 <5GH5 IB5 G9A5B5
CFH=B5G EI9 BC DF9G9BH9B
A5B7<5G 89 <IAC EI9 BC :I9FCB
@5J585G DCF IB H=9ADC 89 <5GH5
A9G9G
#EI CE39?
*I7=9858 MC A5B7<5G F97CBC7=6@9G
+C5@@5G 89 A5BC 89 @5 7C7=B5
IG585G DCF IB H=9ADC 89 <5GH5
G9A5B5
*9FJ=@@9H5G 89 H9@5
569FCG
)CD5 89 B=kCG C 75A=G5G MrG<CFHG
89 89DCFH9 7CB A5B7<5G 89 H=9FF5
C D5GHC
)CD5 89 HF565>C 7CAC CJ9F5@@G C
FCD5 89 D5B589FCG Cr75FB=79FCG
background

#1>381C D\@931C
79=H9G CF;cB=7CG 579=H9G Cr;F5G5
89 7C7=B5 579=H9G A=B9F5@9G
79F5G EI9 7CBH=9B9B ;F5G5 C
579=H9
+g 75:g J=BC H=BHC :FIH5G
J9F8IF5G
*5B;F9 <I9JC @97<9 5@A=8lB
EI9 7CBH9B;5 DFCH9iB5G
Cr75F6C<=8F5HCG
C@@iB H=9FF5 5F9B5 D=;A9BHCG
5F7=@@5 FC>5
'E9D1B =1>381C
B @C DCG=6@9 EI=H9 C HF5H9 @5G A5B7<5G
A=9BHF5G GCB :F9G75G
'F=A9FC 7C@CEI9 5;I5 >56CBCG5 GC6F9
@5 A5B7<5 %C @5G :F=9;I9
#5J9 @5G DF9B85G 5 7CBH=BI57=lB
IH=@=N5B8C 9@ DFC;F5A5 5897I58C
J979G 9G B979G5F=C 5D@=75F J5F=CG
7=7@CG 89 @5J58C D5F5 9@=A=B5F A5B7<5G
D9FG=GH9BH9G C G975G
)5<5339?>1B <1 B?@1 45 13E5Bb
4? 1 <1C 5C@539693139?>5C 45
3E9414?
-9F H5A6=gB @CG 5>IGH9G 89 H9AD9F5HIF5
9B @5 Dc;=B5 
*9@?C 45 C\=2?<?C
#5J58C 5 AcEI=B5 5@;C8lB Ó
#5J58C 5 AcEI=B5
9GH5AD58CG Ô
#5J58C 5 AcEI=B5
FCD5 89@=7585 Ò
#5J58C 5 A5BC Ì
*5=@5B1DEB1C
FiC Á
+=6=C Ê
5@=9BH9 Â
%C @5J9 DF9B85G 9B @5 AcEI=B5 89r@5J5F
EI9 DF9G9BH9B 9@ GiA6C@C OCrBCH
.5G< C & %&+ .*rÚ
1B71B <1 B?@1
d
,(
*$
d
') - +)
'# )&  /'#&* _%
'F9B85G 89 FCD5 HF5H58CG
DF9J=5A9BH9 7CB 5;9BH9G
89r@=AD=9N5 9B 65G9 5rGC@J9BH9G C
6=9B 5;9BH9G 89 @=AD=9N5 9B G97C
F9DF9G9BH5B IB D9@=;FC 89 9LD@CG=lB
IB5 J9N 75F;58CG 9B @5 AcEI=B5 89
@5J5F BH9G 89 75F;5F@CG 8969Fc
57@5FcFG9@CG DFC@=>5A9BH9 5 A5BC
+%
&6>9HCG GI9@HCG EI9 G9 9B7I9BHF9B
9B 9@ =BH9F=CF 89@ H5A6CF 89 @5
AcEI=B5 89 @5J5F DI989B 85k5F @5
FCD5 BH9G 89 75F;5F @5 FCD5
7CBHFC@9 EI9 BC G9 9B7I9BHF9B
C6>9HCG 9B 9@rH5A6CF
q 6F5 @5 DI9FH5
q C@CEI9 @5G DF9B85G
G9@977=CB585G G=B 8C6@5F MrGI9@H5G
89BHFC 89@ H5A6CF $9N7@9
DF9B85G ;F5B89G MrD9EI9k5G M5
EI9 DF9B85G 89rH5A5kCG 8=J9FGCG
G9 8=GHF=6IM9B A9>CF 8IF5BH9
9@r7=7@C 89 79BHF=:I;58C
i
%C 9L7985 @5 75F;5 AcL=A5
@5rGC6F975F;5 5FFC>5Fc F9GI@H58CG
DC6F9G 9B @5 75@=858 89@ @5J58C M
<579 EI9 @5 FCD5 G5@;5 AcG
565FEI=@@585
'5F5 C6H9B9F @CG A9>CF9G F9GI@H58CG
8969Fc 75F;5FG9 9@ H5A6CF G9;oB 9@
H=DC 89 DF9B85G -95 5 H5@ :=B @CG
DFC;F5A5G 9GD97=5@9G 9B @5 Dc;=B5 
8CB89 G9 85 =B:CFA57=lB F9GD97HC 89
DF9B85G JC@IA=BCG5G D 9> :F5N585G
&<5>1 31B71
@;C8lB M @=BC
V 31B71
GH5AD58CG 7CA6=B57=CB9G 89r:=6F5G
G=BHgH=75G M H9>=8CG
D 45 31B71
#5B5 FCD5 89@=7585 G985
i
95BB5 <1 @E5BD1
$? @B5C9?>5 @B5>41C 5>DB5
<1a@E5BD1 I <1 :E>D1 45 7?=1
"1 @E5BD1 4525 35BB1BC5 3?>
6139<9414 5C 4539B C9> 6?BJ1B<1
background

(?@1 5D5B75>D5C
Ia149D9F?C
+C? 45 <1 31>D9414 45 45b
D5B75>D5 1453E141
d
,(
*$
d
P') - +) ) *& 
%-%%$ %+&
$5BH9B;5 @5G 89H9F;9BH9G Mr58=H=JCG
:I9F5 89@ 5@75B79 89r@CG B=kCG
$=85 9@ 89H9F;9BH9 DC@JC C @iEI=8C 89
57I9F8C 5
#5 8IF9N5 89@ 5;I5 GH5
=B:CFA57=lB DI989 C6H9B9F@5 89 GI
DFCJ998CF 89 5;I5 @C75@ ,B9 95I
AC=BG 8IF9 F9EI=9FH AC=BG 89
8gH9F;9BH
#5 75BH=858 89 FCD5
@ ;F58C 89 GI7=9858 B:CFA57=lB
5@ F9GD97HC @5r<5@@5Fc 9B @5 Dc;=B5

#5G 9GD97=:=757=CB9G 89@
:56F=75BH9 89@ 89H9F;9BH9
$=8=9B8C 7CFF97H5A9BH9 @5
75BH=858 89 89H9F;9BH9 F98I79
@CG 85kCG 5@ A98=C 5A6=9BH9
Mr5G9;IF5B IB F9GI@H58C lDH=AC
89@ @5J58C
q *= G9 IH=@=N5 IB 89H9F;9BH9 D5F5
AcEI=B5G 89 @5J5F 75F;5 DCF
5FF=65 G9 F97CA=9B85 @5J5F 7CB U
C V 5DFCL 5 H6@ 89 @5
75BH=858 F97CA9B8585 DCF 9@
:56F=75BH9 7CB 9@ :=B 89 9J=H5F
@5r:CFA57=lB 89 89A5G=585
9GDIA5 *= F98I79 89A5G=58C @5
75BH=858 DI989 G9F A5;FC
9@rF9GI@H58C 89 @5 @=AD=9N5
CA=9B79 7CB U 89 @5 75BH=858
F97CA9B8585 M 5IAgBH9@5 IB
DC7C GC@5A9BH9 G= 9@ F9GI@H58C 89
@=AD=9N5 9G A5@C M GIG DF9B85G BC
<5B G=8C @5J585G 7CFF97H5A9BH9
5=1C914? @?3? 45D5B75>D5
#5 FCD5 BC G9 @=AD=5 7CFF97H5A9BH9 M
9J9BHI5@A9BH9 F9GI@H5 ;F=G MrFi;=85
D5F979FcB A5B7<5G A5FFlB ;F=GcG95G
D5FHi7I@5G 89 ;F5G5 #5G 65FF5G
75@9:57HCF5G G9 75@7=:=75FcB
5=1C914? 45D5B75>D5
GDIA5 9L79G=J5 85k5 9@ A98=C
5A6=9BH9 F98I79 9@ 5;=H58C 8IF5BH9 9@
@5J58C DFC8I7=9B8C F9GI@H58CG
89:=7=9BH9G 9B 9@ @5J58C M DI989 75IG5F
IB 79BHF=:I;58C 89:=7=9BH9
1B71 45 <1 B?@1
5<a45D5B75>D5 I?
<?Ca149D9F?C
q 6F5 @5 H5D5 89@ 7CAD5FH=A=9BHC
D5F5 9@r89H9F;9BH9
q C@CEI9 9@ 89H9F;9BH9 MC @CG
58=H=JCG
CAD5FH=A=9BHC
CAD5FH=A=9BHC D5F5 9@ @5J58C
9@=A=B58CF 89 A5B7<5G
i
(53?=5>41=?C 45D5B75>D5C C5
1<D1 5>5B791  I1 AE5 ZCD?C
6E5B?> 45C1BB?<<14?C @1B1
?2D5>5B E> B5>49=95>D? ^@D9=?
5> <1F14?B1C 45 31B71 6B?>D1<
< >? EC1B <?C 45D5B75>D5C
=5>39?>14?C 5> 5< @WBB16?
1>D5B9?B @E545> 75>5B1BC5
@B?2<5=1C 3?=? 5H35C? 45
5C@E=1 393<?C 45 <1F14? =WC
@B?<?>714?C ? E>1 =5B=1 5> 5<
B5>49=95>D?
CAD5FH=A=9BHC 
8=H=JCG D5F5 9@ @=AD=58C 9G 897=F
GI5J=N5BH9G C 57CB8=7=CB58CF9G P%C
@@9B5F AcG 5@@c 89 @5 A5F75 AcL=A5
CAD5FH=A=9BHC 
CAD5FH=A=9BHC D5F5 9@ 6@5BEI958CF
7@CFC 6@5BEI958CF Cr6@5BEI958CF 7CB
DFCH977=lB 89 7C@CF9G P%C @@9B5F AcG
5@@c 89 @5 A5F75 AcL=A5
i
*I5J=N5BH9G 7CB79BHF58CG
Cr9GD9GCG 8969FcB 8=@I=FG9 7CBrIB
DC7C 89 5;I5 5BH9G 89r7C@C75F@CG
9B 9@ 7CAD5FH=A=9BHC D5F5 9J=H5F
F965@G9G 89 5;I5 896=8C
5rC6GHFI77=CB9G
q 95BB5 <1 D1@1 45<
3?=@1BD9=95>D? @1B1
45D5B75>D5
&ZB4941 45 3?<?B
+%
#CG 7C@CF5BH9G DI989B 7CBH9B9F
5NI:F9 C 7@CFC GH5GrGIGH5B7=5G
DI989B DFC8I7=F lL=8C 9B 5@;IB5G
D5FH9G 89 @5 AcEI=B5 89r@5J5F %C
7C@CF99 DF9B85G 89rFCD5 9B @5
AcEI=B5 89 @5J5F
&B?7B1=1C
Ia6E>39?>5C
@ H=9ADC 89 8IF57=lB 89 @CG 7=7@CG
J5Fi5 7CB 9@ 7=7@C G9@977=CB58C @5
H9AD9F5HIF5 M @5 DF9G=lB 89@ 5;I5 EI9
=B;F9G5 @5 8IF9N5 89 gGH5 @5 75BH=858
75F;585 9@ H=DC 89 FCD5 Mr@5 8=GH5B7=5
89 @5 IB=858 89@ HI6C 89 89G75F;5
#5 J9@C7=858 AcL=A5 89 79BHF=:I;58C
89D9B89 89@ 7=7@C G9@977=CB58C '5F5
5>IGH5F @5 J9@C7=858 89 79BHF=:I;58C
7CBGI@H9r@5 Dc;=B5 
&B?7B1=1C 2WC93?
(57E<1B ?DD?> ?D (?@1 3?=_>
<7?4^> c 1<95>D5
)CD5 89 7C@CF9G :=FA9G 7CB ;F58C 89
GI7=9858 F9;I@5F C 9@9J585 'F9B85G
FC6IGH5G 89 HF565>C 7CB:977=CB585G 89
5@;C8lB C @=BC 7CAC FCD5 89 HF565>C M
FCD5 =BH9F=CF
(57E<1B ?DD?> -1B= (?@1
3?=_> <7?4^> c *929?
)CD5 BCFA5@ EI9 89GH=k9 BC AIM
GI7=5 )CD5 FC6IGH5 M 89 HF565>C
7CB:977=CB585G 89 5@;C8lB 7CA
J5EI9FCG 7<CA65G M 75A=G5G
(57E<1B ?DD?> ?<4 (?@1 3?=_>
<7?4^> c B\?
'F9B85G BC AIM GI7=5G EI9 89GH=k9B
)CD5 FC6IGH5 M 89 HF565>C
7CB:977=CB585G 89 5@;C8lB C @=BC
7C@CF9G EI9 89GH=k9B C G9
89GJ5B979B
&5B=1>5>D &B5CC -1B=
CD1=@14?C c *929?
'F9B85G 7CBG=GH9BH9G 9B 5@;C8lB EI9
89GH=k9B 7CB ;F58C 89 GI7=9858
A98=C C @9J9 9GH5AD58CG 89 @=BC 89
:=6F5 G=BHgH=75 C A9N7@5 M 89 J9GH=F
'F9B85G EI9 F9EI=9F9B 89 IB5
G97I9B7=5 89 JC@H9C M IB5 J9@C7=858 89
79BHF=:I;58C 9GD97=5@9G D5F5 A=B=A=N5F
9@r5FFI;58C 7CAC 6@IG5G
75A=G5GrMrHF5>9G 89 :59B5
&5B=1>5>D &B5CC ?<4 CD1=@14?C
c B\?
'F9B85G 7CBG=GH9BH9G 9B 5@;C8lB EI9
89GH=k9B 7CB ;F58C 89 GI7=9858
A98=C C @9J9 9GH5AD58CG 89 @=BC 89
:=6F5 G=BHgH=75 C A9N7@5 M 89 J9GH=F
'F9B85G EI9 F9EI=9F9B 89 IB5
G97I9B7=5 89 JC@H9C M IB5 J9@C7=858 89
79BHF=:I;58C 9GD97=5@9G D5F5 A=B=A=N5F
9@ 5FFI;58C
&B?7B1=1C 5C@5391<5C
5<931D5C)9<; &B5>41C 69>1C
#CG 5>IGH9G D5F5 DF9B85G 89@=7585G G9
9BH=9B89B D5F5 GI IGC 7CB D5F5
DF9B85G :=B5G 89 7I=858C :c7=@ 89
5@;C8lB G5HgB DF9B85G 89 :=6F5
G=BHgH=75G C A9N7@5 7CFH=B5G HF5>9G
:5@85G M 6@IG5G
background

'I989B @5J5FG9 7CB 9GH9 DFC;F5A5
DF9B85G JC@IA=BCG5G 7CAC :F5N585G
M5 EI9 HF5H5 5 @5G DF9B85G 7CB AI7<5
89@=7589N5 M 5;F9;5 5IHCAcH=75A9BH9
IB 57@5F58C 58=7=CB5@
%C 9:97Ho5 IB 79BHF=:I;58C 9BHF9 @CG
7=7@CG 89 57@5F58C
1>4 G1C8 "1F14? 1 =1>?
#CG 5>IGH9G D5F5 9@ @5J58C 5 A5BC G9
9BH=9B89B D5F5 9@ @5J58C 89 DF9B85G
AIM 89@=7585G 89 7I=858C :c7=@ EI9
BCFA5@A9BH9 G9 @5J5B 5rA5BC
GHCG DFC;F5A5G :I9FCB 8=G9k58CG
D5F5 IB HF5H5A=9BHC 9LHF9A585A9BH9
89@=758C 89 @5G DF9B85G
CB 9GH9 DFC;F5A5 DI989B @5J5FG9 G=B
DFC6@9A5G DF9B85G A5F7585G 7CB 9@
GiA6C@C Ì O5B8 K5G< @5J58C 5
A5BC 9B @5 9H=EI9H5 89r7I=858CG
!) 1B5
'5F5 H9>=8CG 7CB A5B7<5G AIM GI7=CG
M 89 =BH9BGC IGC 7CAC D5BH5@CB9G
Gc65B5G 75A=G9H5G =B:5BH=@9G 9H7
i
%C @5J9 DF9B85G BI9J5G AI@H=7C@CF
>IBHC 5 CHF5G FCD5G
)?1; (?=?:?
,B 7=7@C D5F5 9@ HF5H5A=9BHC DF9J=C 89
FCD5 AIM GI7=5 @ 7=7@C 89 F9AC>58C
8IF5 <CF5G M :=B5@=N5 7CBrIB
79BHF=:I;58C 6F9J9
B19> B5>1:5
'I989 IG5FG9 D5F5 9J57I5F 9@ 5;I5 G=B
79BHF=:I;58C DCGH9F=CF
)@9> 5>DB96E714?
=7@C 89 79BHF=:I;58C D5F5 79BHF=:I;5F
FCD5 AC>585 @5J585 5rA5BC
@ 5;I5 G9 9J57I5 5BH9G M 8IF5BH9 9@
7=7@C 89 79BHF=:I;58C
:ECD5C 45 D5=@5B1DEB1
*9 DI989B G9@977=CB5F @5G G=;I=9BH9G
H9AD9F5HIF5G 89 @5J58C
" * 5F9  °  °
<CH 75@=9BH9  °  °
K5FA H=6=C  °  °
7C@8 :FiC  °  °
,5<?394145C 45 35>DB96E714?
=WH9=1C 45 <?C 49F5BC?C @B?7B1=1C
#5 @IN =B8=758CF5 FC>5 OA5L GD=B GD998
9GHc 9B79B8=85
&6/,5$*/.&3
0/2 -*.54/
2/(2"-"
 '24B9.?<AA<;
$<?:.9.94<1V;
 &2?:.;2;A &?2@@
@A.:=.1<@
 ! ( .?2
 2960.A2@ '<=. 36;.
 (=6; 2;A?63B4.1<
(54E354 C@9>
5>DB96E714?aB54E394?
*9 9B7=9B89 9@ =B8=758CF @IA=BCGC FC>C
OF98I798 GD=B
*C@5A9BH9 G= <5 G9@977=CB58C IB
79BHF=:I;58C F98I7=8C D5F5 IB
HF5H5A=9BHC 7I=858CGC 89 @5 FCD5
5>D<5 C@9> C@554C ,5<?394145C 45
35>DB96E714? 3E9414?C?
*9 9B7=9B89 9@ =B8=758CF @IA=BCGC FC>C
O9BH@9 GD=B GD998
&6/,5$*/.&3
0/2 -*.54/
2/(2"-"
 .;1 D.@5
".C.1<Z.Z:.;<
 (<.8 '<:<7<
$? 69>1< C@9> )9> 35>DB96E714? 69>1<
*9 9B7=9B89 @5 @IN =B8=758CF5 FC>5 OBC
:=B5@ GD=B
*9 5D@=75 9B 75GC 89 FCD5 :=B5 @r5;I5
D9FA5B979 9B @5 AcEI=B5 89GDIgG 89@
o@H=AC 79BHF=:I;58C
,H=@=79 9GH9 5>IGH9 D5F5 9J=H5F 9@
5FFI;58C 89 @5 FCD5 9B 75GC EI9 BC
DI989 9LHF59F @5 FCD5 89 @5 AcEI=B5 89
@5J5F =BA98=5H5A9BH9 89GDIgG 89
7CB7@I=8C 9@ 7=7@C 89 @5J58C
+%
BH9G 89 89G75F;5F @5 AcEI=B5
8969Fc 9J57I5F 9@ 5;I5 F9A5B9BH9
G9@977=CB5B8C B19> Cr)@9> M
DCB=gB8C@5 9B A5F7<5
#?4969314?B5C
)5<5339^> 45 35>DB96E714?
@ 5>IGH9 89 @5 J9@C7=858 89@
79BHF=:I;58C 89@ DFC;F5A5
G9@977=CB58C DI989 AC8=:=75FG9
'F9G=CB9 9GH9 6CHlB @5 J979G
B979G5F=5G <5GH5 EI9 G9 9B7=9B85 9@
5>IGH9 89G958C
5<1I )D1BD BB1>AE5 5>
EIi DI989 AC8=:=75FG9 9@ 5>IGH9 89r@5
75BH=858 89 <CF5G EI9 HF5BG7IFF9B
5BH9G EI9 7CA=9B79 9@r7=7@C
'F9G=CB9 9GH9 6CHlB @ 8=GD@5M =B8=75 O
0:00  @ H=9ADC 89 F9AC>C DI989
9LH9B89FG9 <5GH5 IB AcL=AC 89 
<CF5G 9B D5GCG 89 <CF5
DF9G=CB5B8C @5G J979G B979G5F=5G
9@r6CHlB 5<1I )D1BD
@ H=9ADC 89 5FF5BEI9 )D1BD 7CA=9BN5
5 7CBH5F =BA98=5H5A9BH9 89GDIgG 89@
5>IGH9 GHC G9 =B8=75 5rHF5JgG 89@
9B79B8=8C =BH9FA=H9BH9 89 @CG 8CG
DIBHCG 9BHF9 @CG 8i;=HCG
i
'I989B 9:97HI5FG9 75A6=CG 9Br9@
H=9ADC 89 5FF5BEI9 )D1BD 9B
7I5@EI=9F ACA9BHC DF9G=CB5B8C
9@ 6CHlB 5<1I )D1BD <5GH5 @C;F5F
9@ 5>IGH9 89G958C
i
*= G9 75A6=5 9@ DFC;F5A5 C G= G9 @C
=BH9FFIAD9 H5A6=gB G9 =BH9FFIAD9
9@ H=9ADC 89 5FF5BEI9 )D1BD *9
=B8=75 9B 9@r8=GD@5M 9@ H=9ADC D5F5
@5 :=B5@=N57=lB 89@ DFC;F5A5 (514I
9> B H5@ 75GC 8969Fc JC@J9FG9 5
G9@977=CB5F 9@ H=9ADC D5F5 9@
5FF5BEI9 7CB )D1BD
?D?>5C @1B1 C5<5339?>1B
<1C ?@39?>5C
<5138 2<1>AE514?
*= G9 577=CB5 9GH9 6CHlB G9 5;F9;5 IB
7=7@C 89 6@5BEI958C 5@ 7=7@C
G9@977=CB58C
@ H=9ADC 89 @5J58C G9 9LH=9B89
7CB7CF85BH9A9BH9
background

(9>C5 &<EC 3<1B14? 14939?>1<
*= G9 577=CB5 9GH9 6CHlB G9 5;F9;5 IB
7=7@C 89 57@5F58C 5@ DFC;F5A5
G9@977=CB58C
@ H=9ADC 89 @5J58C G9 9LH=9B89
7CB7CF85BH9A9BH9
51FI 4EDI "1F14?a@?D5>3914?
#5 CD7=lB 89 @5J58C DCH9B7=58C G9
F97CA=9B85 U$#$* @1B1
@B5>41C CE=1=5>D5 CE391C AE5
B5AE95B5> 45 E>1 <9=@95J1 1 6?>4?
45 =1>381C B5C9CD5>D5C
@B?F5>95>D5C 45 1<9=5>D?C $% G9
F97CA=9B85 @5 CD7=lB 89 @5J58C
DCH9B7=58C D5F5 FCD5G 7CB GI7=9858
BCFA5@ C @=;9F5
*= G9 577=CB5 9GHg 6CHlB @5r@5J58CF5 G9
@@9B5 7CB 5;I5 :Fi5roB=75A9BH9
IF5BH9 9@ 75@9BH5A=9BHC 89 @5 A=GA5 5
@5 H9AD9F5HIF5 89:=B=85 9@ 7=7@C 89
@5J58C M5 9GHc 7CFF=9B8C
@ H=9ADC 89 @5J58C G9 DFC@CB;5 D5F5
75F;5G 89 FCD5 GIA5A9BH9 GI7=5
)5]1< 13_CD931
,B5 G9k5@ 57oGH=75 =B8=75 @CG 8=:9F9BH9G
9GH58CG 89@ DFC;F5A5 D9> 5FF5BEI9
:=B5@=N57=lB C:5@@CG9B 9@
:IB7=CB5A=9BHC
'5F5 57H=J5F @5 G9k5@
q *9@977=CB9 IB DFC;F5A5
q 'F9G=CB9 8CG 89 @CG 6CHCB9G
89CD7=lB D 9> @957<
6@5BEI958C M )=BG9 57@5F58C
<5GH5 EI9 GI9B9 IB5 G9k5@ @5F;5
'5F5 89G57H=J5F @5 G9k5@
q *9@977=CB9 IB DFC;F5A5
q 'F9G=CB9 8CG 6CHCB9G 89CD7=lB M
GCGHgB;5@CG 577=CB58CG <5GH5 EI9
GI9B9 IB5 G9k5@ 7CFH5
i
%C 57H=J9 C 89G57H=J9 @5 G9k5@
57oGH=75 A=9BHF5G <5M5
IBDFC;F5A5 9B DFC;F9GC
"EJ 9>49314?B1 5>39=1a45<
2?D^> K)D1BD&1EC5
BB1>AE5&1EC1
GH5 @IN =B8=758CF5 HF5BGA=H9
@5rG=;I=9BH9 =B:CFA57=lB
*= @5 @IN =B8=758CF5 35>D5<<51
DI989 =B=7=5FG9 9@ DFC;F5A5
oB DI989 5;F9;5FG9 FCD5
*= @5 @IN =B8=758CF5 9GHc
5>35>4941 9@ DFC;F5A5 9GHc 9B
DFC;F9GC
%C 9G DCG=6@9 5;F9;5F FCD5
M5rEI9 @5 DI9FH5 9GHc HF56585 DCF
F5NCB9G 89 G9;IF=858
'I989 5;F9;5FG9 FCD5 @I9;C 89
DF9G=CB5F 9@ 6CHlB )D1BD&1EC5
1B13D5B\CD931C 5C@5391<5C
:ECD5 45 31B71 1ED?=WD93?
@ O5>IGH9 5IHCAcH=7C 89 75F;5 F9;I@5
9@ 7CBGIAC 89 5;I5 M 89 9B9F;i5 D5F5
7585 DFC;F5A5 Mr89H9FA=B5 @5 75BH=858
89 FCD5 MrH=DCG 89 H9>=8C
GH9 DFC79GC 9GHc =BH9;F58C 9B
@5rAcEI=B5 M C7IFF9 5IHCAcH=75A9BH9
GH9 7CBHFC@ F98I79 9@ 7CBGIAC
89r5;I5 M 89 9B9F;i5 9B 75GC 89
75F;5G D9EI9k5G
)9CD5=1 45 45D5339^> 45 31B71
45C21<1>35141
GH9 G=GH9A5 G9 C7ID5 89 79BHF=:I;5F @5
75F;5 J5F=5G J979G D5F5 5G9;IF5F IB5
8=GHF=6I7=lB D5F9>5 89 @5 A=GA5
*= @5 75F;5 5 @5J5F 9GHc 8=GHF=6I=85 89
AC8C 89GD5F9>C BC G9 DFC7989 5@
79BHF=:I;58C C 6=9B G9 F98I79
@5rJ9@C7=858 89@ 79BHF=:I;58C :=B5@ DCF
F5NCB9G 89 G9;IF=858
*95=@? 9>49314?
96=8C 5 @5G 75F57H9FiGH=75G
A9B7=CB585G M CHF5G 75IG5G 9@ H=9ADC
89@ DFC;F5A5 9B 7IFGC J5Fi5 *= G9
G9@977=CB5 IB DFC;F5A5 G9 =B8=75 9@
H=9ADC 89 8IF57=lB F9;I@5F 89@ A=GAC
#CG =H9AG G=;I=9BH9G 5:97H5B 9@ H=9ADC
=B8=758C
9@ H5A5kC 89 @5 75F;5
@5G F9D9H=7=CB9G 89 =BH9BHC 89
79BHF=:I;58C B979G5F=5G D5F5
C6H9B9F IB5 8=GHF=6I7=lB D5F9>5 89
@5 75F;5 8IF5BH9 9@ 79BHF=:I;58C
7=7@CG 89 57@5F58C 58=7=CB5@9G
896=8CG 5 @5 :CFA57=lB 9L79G=J5
89 9GDIA5
IB5 DF9G=lB 89 5;I5 89A5G=58C
F98I7=85 9B @5rHI69Fi5 89 5779GC
@5 G9@977=lB 89 CD7=CB9G
58=7=CB5@9G D 9> O)=BG9 '@IG
57@5F58C 58=7=CB5@
i
,GH98 BCH5Fc @CG 9:97HCG 89 9GHCG
75A6=CG A5MCF C A9BCF H=9ADC
9B @CG 75A6=CG 89 @5 =B8=757=lB 9B
9@ 8=GD@5M 7I5B8C C7IFF9B 8IF5BH9
9@ 7=7@Cr89 @5J58C *= BC G9 <5B
G9@977=CB58C CD7=CB9G M @CG
9:97HCG A9B7=CB58CG 5FF=65 BC
H=9B9B @I;5F 9@ H=9ADC =B8=758C
8=GA=BI=Fc <5GH5 9@ :=B5@ 89@ 7=7@C
background

"1F14?
q 56F5 @CG ;F=:CG 89 5;I5
q ;=F9 9@ G9@97HCF 89 DFC;F5A5G
<5GH5 EI9 G9k5@9 9@ DFC;F5A5
89G958C
q 5F;I9 @5 AcEI=B5 89 @5J5F
Mr7=9FF9 @5 DI9FH5
@ =B8=758CF @IA=BCGC FC>C
)D1BD&1EC5 FC>C 79BH9@@95
q *= 9G B979G5F=C DF9G=CB9 9@ @CG
6CHlB9G D5F5 @5G CD7=lB9G
58=7=CB5@9G
*9 9B79B89Fc @5 @IN =B8=758CF5
FC>5 89@ 6CHlB G9@977=CB58C
i
*= G9 <5 9:97HI58C IB5
7CA6=B57=lB =B7CFF97H5
@5r@INr=B8=758CF5 89@ 6CHlB
G9@977=CB58C G9 5D5;5Fc
q *= 9G B979G5F=C 75A6=9 @5
J9@C7=858 89 79BHF=:I;58C
A98=5BH9 9@ 6CHlB )@9> C5<53D9?>
<5GH5 EI9 G9 9B7=9B89 @5 @IN
7CFF9GDCB8=9BH9 5 @5 J9@C7=858 89
79BHF=:I;58C 89G9585
q *= 9G B979G5F=C 75A6=9 9@ H=9ADC
89 )D1BD 5FF5BEI9 'F9G=CB9 9@
6CHlB 5<1I )D1BD <5GH5 EI9 G9
=B8=75 9@ H=9ADC 89 1BB1>AE5
89G958C 9B 9@ 8=GD@5M
q 'F9G=CB9 9@ 6CHlB )D1BD&1EC5 *9
9B7=9B89 @5 @5 @IN =B8=758CF5 FC>5
@ 8=GD@5M =B8=75 9@ H=9ADC EI9
8IF5Fc 9@ DFC;F5A5 G9@977=CB58C M
@5 AcEI=B5 5FF5B75
i
585 D5GC 89@ DFC;F5A5 G9 =B8=75
5 HF5JgG 89@ =B8=758CF @IA=BCGC
7CFF9GDCB8=9BH9 8965>C 89@
8=GD@5M
EB1>D5 5<a<1F14?
i
5294? 1< =?>D1:5 3?=@<5:? 45<
5<53DB?4?=ZCD93? @E545>
75>5B1BC5 F92B139?>5C E
?C39<139?>5C 4EB1>D5 5< @1C1:5
45 F5<?394145C 45 35>DB96E714?
21:1C 1 ?DB1C =1I?B5C CD5
3?=@?BD1=95>D? 5C >?B=1<
45294? 1< 45C@<1J1=95>D? 45<
D1=2?B I >? 4525 31EC1B
@B5?3E@139^>
1=29?C 45 @B?7B1=1
q =F9 9@ G9@97HCF 89 DFC;F5A5G
5r%66
q =F9 9@ G9@97HCF 89 DFC;F5A5 5r@5
DCG=7=lB 89@ BI9JC DFC;F5A5
89G958C
@ =B8=758CF @IA=BCGC )D1BD&1EC5
79BH9@@95
q *= <579 :5@H5 75A6=9 @CG 5>IGH9G
CBGI@H9 D5F5 9@@C @5rDc;=B5 
q 'F9G=CB9 9@ 6CHlB )D1BD&1EC5
@ DFC;F5A5 5FF5B75Fc
#5 @IN =B8=758CF5 9GHc 9B79B8=85
background

7B571B E>1 @B5>41 ?
9>D5BBE=@9B 5< @B?7B1=1
,GH98 DI989 5;F9;5F FCD5 9B IB
=BGH5BH9 DCGH9F=CF 5@ 7CA=9BNC 89@
DFC;F5A5 EI=H5F DF9B85G 89@ DFC;F5A5
9B 7IFGC C =BH9FFIAD=F 5rgGH9 9B
7I5@EI=9F ACA9BHC
i
*9 F97CA=9B85 BC 5;F9;5F FCD5
IB5 J9N 7CB7@I=85 @5 :5G9 89
@5J58C
i
,GH98 DI989 5;F9;5F C EI=H5F FCD5
A=9BHF5G @5 @IN =B8=758CF5
)D1BD&1EC5 79BH9@@95
q 'F9G=CB9 9@ 6CHlB )D1BD&1EC5
@ =B8=758CF @IA=BCGC )D1BD&1EC5
79BH9@@95
q 6F5 @5 DI9FH5
q ;F9;I9 C EI=H9 @5 FCD5 EI9
89G99
q =9FF9 @5 DI9FH5
q 'F9G=CB9 9@ 6CHlB )D1BD&1EC5
@ DFC;F5A5 7CBH=Bo5
*9 9B7=9B89 @5 @5 @IN =B8=758CF5
FC>5
i
I5B8C @5 @IN =B8=758CF5
)D1BD&1EC5 9GHc 9B79B8=85
DI989 =BH9FFIAD=FG9 9@ DFC;F5A5
*=B 9A65F;C BCrDI989 56F=FG9 @5
DI9FH5 DCFrF5NCB9G 89 G9;IF=858
9@rB=J9@ 89@ 5;I5 @5 H9AD9F5HIF5 C
@5 J9@C7=858 89 ;=FC GCB
89A5G=58C 9@9J585G
i
*= @5 J9@C7=858 89 ;=FC 9G
89A5G=58C 9@9J585 @5 @IN
=B8=758CF5 )D1BD)D?@ 9GHc
9B79B8=85 'I989 5;F9;5FG9 FCD5
9B 9@ AC8C O'5IG5 IB5rJ9N EI9
9@ H5A6CF G9 <5rD5F58C
1>35<139^> 45 E>
@B?7B1=1 13D9F?
*= IGH98 EI=9F9 D5F5F IB DFC;F5A5
57H=JC M EI=H5F @5 FCD5
i
*= 9@ DFC;F5A5 G9 =BH9FFIAD9
5rIB5 H9AD9F5HIF5 9@9J585 89>9
EI9 @5 FCD5 G9 9B:Fi9 <5GH5rEI9
DI985 HC75F 9@ J=8F=C 7CB @5 A5BC
q =F9 9@ G9@97HCF 89 DFC;F5A5G
5r%66
q =F9 9@ G9@97HCF 89 DFC;F5A5G
5rB19> C )@9>
i
B 75GC 89 G9@977=CB5F )@9>
79BHF=:I;58C G9@977=CB9 @5
J9@C7=858 89 79BHF=:I;58C
89G9585 D9FC BC >? 69>1< C@9>
G=B 79BHF=:I;58C :=B5@
q 'F9G=CB9 9@ 6CHlB )D1BD&1EC5
q GD9F9 5 EI9 7CB7@IM5 9GH9
DFC;F5A5
q 6F5 @5 DI9FH5
q 9G75F;I9 @5 FCD5
i
*= IB DFC;F5A5 :I9 =BH9FFIAD=8C 5
H9AD9F5HIF5G 9@9J585G @5 DI9FH5
D9FA5B979 6@CEI9585 <5GH5 EI9
9@ 9@97HFC8CAgGH=7C G9 <5 9B:F=5s
8C
i
*= 9@ DFC;F5A5 G9 =BH9FFIAD9
5D5;5B8C 9@ 9@97HFC8CAgGH=7C @5
DI9FH5 D9FA5B979 79FF585
5C@EZC
45<a<1F14?
#5 @IN =B8=758CF5 )D1BD)D?@ G9r5D5;5
B 9@ 8=GD@5M G9 =B8=75 0:00
q 6F5 @5 DI9FH5
q =F9 9@ G9@97HCF 89 DFC;F5A5G
5r%66
q =9FF9 @CG ;F=:CG
q (I=H9 @5 FCD5
)9 C5 81 C5<5339?>14?
K>?a69>1< C@9>
C9>a35>DB96E714? 69>1<
@ =B8=758CF @IA=BCGC )D1BD&1EC5
79BH9@@95
q =F9 9@ G9@97HCF 89 DFC;F5A5G
5rB19> @ =B8=758CF @IA=BCGC
)D1BD&1EC5 79BH9@@95
q 'F9G=CB9 9@ 6CHlB )D1BD&1EC5
#5 @IN =B8=758CF5 9GHc 9B79B8=85
q *= 9GH9 DFC;F5A5 <5 7CB7@I=8C
56F5 @5 DI9FH5
q =F9 9@ G9@97HCF 89 DFC;F5A5G
5r%66
q =9FF9 @CG ;F=:CG
q (I=H9 @5 FCD5
i
5C@EZC 45 <1F1BC5 45:5 <1
@E5BD1 45 31B71 5>DB51295BD1
@1B1 @5B=9D9B AE5 C5 C5AE5 5<
9>D5B9?B 45 <1 =WAE9>1 45 <1F1B
background

"9=@95J1 I 3E9414?
"9=@91B <1 <1F14?B1
d
,(
*$
d
P') - +) L=GH9 F=9G;C 89
89G75F;5G 9@g7HF=75G
9G7CB97H9 G=9ADF9 9@
9@97HFC8CAgGH=7C 89@ HCA57CFF=9BH9
5BH9G 89 @=AD=5F@C
%IB75 @=AD=9 @5 AcEI=B5 89 @5J5F
7CB IB 7<CFFC 89 5;I5 5 DF9G=lB
d
,(
*$
d
P') - +) L=GH9 F=9G;C 89
9LD@CG=lB
%IB75 8969 IH=@=N5F GC@J9BH9G
=B:@5A56@9G D5F5 @=AD=5F 9@
9@97HFC8CAgGH=7C
+%
CBHFC@9 89 J9N 9B 7I5B8C
G=rBCr<5M C6>9HCG 9LHF5kCG 7CAC
ACB985G C 6FC7<9G D5F5 D5D9@
9BHF9 9@ H5A6CF M @5 >IBH5 89 ;CA5
&( ,*( H9CD5 @5<97B? 45
?H94139^>
"9=@95J1 45 <1 31B31C1 I 5< @1>5<
45 3?>DB?< 45< 5<53DB?4?=ZCD93?
*= <579 :5@H5
q ,H=@=79 5;I5 75@=9BH9 7CB >56lB C
IB 5;9BH9 89 @=AD=9N5 BC 56F5G=JC
q F=77=CB9 <5GH5 EI9 G9 G9EI9
A98=5BH9 IB D5kC GI5J9
"9=@95J1 45< D1=2?B
*= G9 <5B :CFA58C A5B7<5G 89 lL=8CG
896=8C 5 C6>9HCG C@J=858CG 7CAC
ACB985G 6FC7<9G D5F5 D5D9@ C
7@5JCG
q ,H=@=79 IB 5;9BH9 89 @=AD=9N5 G=B
7@CFC M G=;5 @5G =BGHFI77=CB9G 89@
:56F=75BH9 %Cr8969 IH=@=N5FG9 @5B5
89 579FC
"9=@95J1 45 <?C 3?=@1BD9=95>D?C
@1B1 45D5B75>D5
*= G9 <5B 57IAI@58C F9GHCG
89r89H9F;9BH9 C 58=H=JCG C G= 9@
GI5J=N5BH9 C 6@5BEI958CF BC G9
<5r9G7IFF=8C DCF 7CAD@9HC
q 6F5 @5 H5D5 89@ 7CAD5FH=A=9BHC
D5F5 9@ 89H9F;9BH9
q +=F9 89@ 7CAD5FH=A=9BHC D5F5
89H9F;9BH9 J9FH=75@A9BH9 <57=5
5FF=65 M EIiH9@C
q #=AD=9 9@ 7CAD5FH=A=9BHC D5F5
89H9F;9BH9 65>C 5;I5 7CFF=9BH9
P'I989 89G5FAcFG9@C 9B 8CG
D5FH9G
q BHFC8IN75 9@ 7CAD5FH=A=9BHC D5F5
89H9F;9BH9 9B GI @I;5F <5GH5 EI9
EI985 :=>58C A98=5BH9 IB 7@=7
"9=@95J1 45 <?C 69<DB?C 45 1335C?
45 17E1
GHC 9G B979G5F=C G= 9BHF5 GC@C IB5
75BH=858 F98I7=85 89 5;I5 C G= BC
9BHF5 5;I5 5@;IB5 9B @5 AcEI=B5 89
@5J5F
'F=A9FC 8969Fc 89G75F;5F @5 DF9G=lB 89
5;I5 9B @5G A5B;I9F5G 89
5@=A9BH57=lB
q =9FF9 @CG ;F=:CG 89 5;I5
q =F9 9@ G9@97HCF 89 DFC;F5A5G 5rIB
DFC;F5A5 7I5@EI=9F5
9L79DHI5B8C )@9> C B19>
q 'F9G=CB9 9@ 6CHlB )D1BD&1EC5 M
9GD9F9 5DFCL=A585A9BH9 IB
A=BIHC
q =F9 9@ G9@97HCF 89 DFC;F5A5G
5r%66
"9=@95J1 45 5<<?C 69<DB?C 5> <?C
7B96?C 45 17E1
B 5A6CG ;F=:CG 89 5;I5 H5BHC :Fi5
7CAC75@=9BH9
q 9G7CB97H9 @5 A5B;I9F5 89@r;F=:C
89 5;I5
q #=AD=9 9@ :=@HFC 65>C 5;I5 7CFF=9BH9
q -I9@J5 5 7CB97H5F @5 A5B;I9F5
"9=@95J1 45 <?C 69<DB?C 5> <1
=WAE9>1 45 <1F1B
B 5A6CG ;F=:CG 89 5;I5 H5BHC :Fi5
7CAC75@=9BH9
q 9G7CB97H9 @5 A5B;I9F5 89 @5
D5FH9 DCGH9F=CF 89 @5 AcEI=B5 89
@5J5F
background

q (I=H5F 9@ :=@HFC H=F5B8C 89 g@
Mr57@5F5F@C 65>C 5;I5 7CFF=9BH9
q C@CEI9 9@ :=@HFC M 7CB97H9
@5rA5B;I9F5
q =9FF9 @CG ;F=:CG 89 5;I5 Mr7CBHFC@9
EI9 BC <5M5G DgF8=85G *= D=9F89
5;I5 7CBHFC@9 EI9 @CG :=@HFCG 9GHgB
7CFF97H5A9BH9 7C@C758CG
q =9FF9 @CG ;F=:CG 89 5;I5
?>C5:?C B5C@53D? 45 <1 <9=@95J1
*9 F97CA=9B85 <579F 7=F7I@5F IB5
D9EI9k5 75BH=858 89 6@5BEI98CF 5
HF5JgG 89 @5 @5J58CF5 7585 HF9G A9G9G
*=B 7C@C75F FCD5 9B @5 AcEI=B5 <c;5@5
:IB7=CB5F 7CAC G=;I9
q -=9FH5 IB5 H5N5 89 6@5BEI958CF 9B
9@ 7CAD5FH=A=9BHC D5F5 9@
89H9F;9BH9 89@ 8=GD9BG58CF
q 5;5 :IB7=CB5F 9@ DFC;F5A5
)9;I@5FCHHCB CH
5C31<39693139^> 45 <1
=WAE9>1 45 <1F1B
+%
#CG 5;9BH9G 89G75@7=:=758CF9G
7CBH=9B9B c7=8CG EI9 5H575B @5G
D5FH9G =BH9F=CF9G 89 @5 AcEI=B5 89
@5J5F M @CG 7C@CF9G 89 @5 FCD5
*= IGH98 IG5 9@ 89H9F;9BH9 7CFF97HC BC
9G B979G5F=C 89G75@7=:=75F @5 AcEI=B5
89 @5J5F
*= 9B 9@ =BH9F=CF 89 @5 AcEI=B5 89 @5J5F
5D5F979B A5B7<5G 6@5B75G 75@ C
89DlG=HCG A=B9F5@9G DI989 IG5F IB
5;9BH9 89G75@7=:=758CF D5F5 9@=A=B5F@CG
*=B 9A65F;C G9 F97CA=9B85 G9;I=F @5G
=BGHFI77=CB9G 89@ :56F=75BH9 89@
89G75@7=:=758CF G= <579 :5@H5 F95@=N5F
9GH9 DFC798=A=9BHC 9B 9@
9@97HFC8CAgGH=7C
background

"?31<9J139^> 45 61<<?C =5>?B5C
d
,(
*$
d
P') - +) L=GH9 F=9G;C 89
89G75F;5G 9@g7HF=75G
J9BHI5@9G F9D5F57=CB9G 8969
9:97HI5F@5G 9L7@IG=J5A9BH9 IB
Hg7B=7C 5IHCF=N58C
*= 9G B979G5F=C 9:97HI5F F9D5F57=CB9G M
IGH98 BC DI989 9@=A=B5F 9@ :5@@C
A98=5BH9 @5 H56@5 G=;I=9BH9
q =F9 9@ G9@97HCF 89 DFC;F5A5G
5r%66
q 9G7CB97H9 @5 AcEI=B5 89r@5J5F
89@ HCA57CFF=9BH9
q =9FF9 @CG ;F=:CG 89 5;I5
q #@5A9 5@ G9FJ=7=C D5F5 7@=9BH9G
7CBGI@H9 @5 Dc;=B5 
",,/
"53" 0/3*#,& $$*@. " 2&",*9"2
$< =B212 ./?6?@2 9. =B2?A.
(2 5. @292006<;.1< H$< 36;.9 @=221 (292006<;2 2"*. < 0*.
$< =B212 ./?6?@2 9. =B2?A.
.99< 2; 29 @B:6;6@A?< 12 2;2?4S. *; =?<4?.:. 6;A2??B:=61< 0<;A6;X. B;. C2G ?2@A./92061<
29 @B:6;6@A?< 12 2;2?4S. (6 12/2 >B6A.?@2 9. ?<=. 1B?.;A2
B; 3.99< 2; 29 @B:6;6@A?< 12Z2;2?4S. @@5A9 .9 @2?C606<
=.?. 0962;A2@ C2?Z=M46;.
9 =?<4?.:. 2@AM 2; 0B?@< F< 9. =B2?A. 2@AM A?./.1.
12/61< . ?.G<;2@ 12 @24B?61.1
@=2?2 >B2 36;.9602 29 =?<4?.:. C2? =M46;. 
9 A<:.0<??62;A2 2@AM @B29A< < ;< 0<;20A.1< 96:6;2 9. 0.B@.
9 @2920A<? 12 =?<4?.:.@ 3B2 46?.1< . '' .;A2@ >B2 29
=?<4?.:. 5.F. 0<;09B61<
(292006<;2 29 =?<4?.:.
$< =B212 ./?6?@2 9. =B2?A.
.X; 0B.;1< @2 5.Z.=.4.1<
F CB29A< .Z2;02;12? 29
2920A?<1<:Q@A60<
&<? ?.G<;2@ 12 @24B?61.1 9. =B2?A. @2 5. A?./.1< =<?>B2
29 ;6C29 12 .4B. < 9. A2:=2?.AB?. < 9. C29<061.1 12 46?<
2@ 12:[email protected]< 292C.1.
<;@B9A2 H4?24.? B;. =?2;1. < 6;A2??B:=6? 29 =?<4?.:.
2; 9. =M46;. 
$< @2 2;062;12; 9.@ 9B02@
12 0<;A?<9
(2 5. >B2:.1< B; 3B@6/92
.:/62 29 3B@6/92 12320AB<@<
$< @2 2;062;12; 9.@ 9B02@
12 0<;A?<9
(2 5. >B2:.1< B; 3B@6/92
"9.:2 29 @2?C606< . 0962;A2@ @6 CB29C2 . <0B??6? 29 3.99<
.99< 2; 29 @B:6;6@A?< 12 2;2?4S. *; =?<4?.:. 6;A2??B:=61< 12 2@A2 :<1< 0<;A6;X.
0B.;1< 29 @B:6;6@A?< 12 2;2?4S. @2 ?2@A./9202 (6Z12/2
>B6A.?@2 9. ?<=. 1B?.;A2 B; 3.99< 2; 29 @B:6;6@A?< 12
2;2?4S. @@5A9 .9 @2?C606< =.?. 0962;A2@ C2? =M46
;.
9 =?<4?.:. ;< .??.;0. 9
6;160.1<? 9B:6;<@<
4"24"53& 02;A2992.
$< 2@AM =?2@6<;.1< 29 /<AV; 0<??2@=<;162;A2 &?2@6<;2 29 /<AV; 4"24"53&
9 =?<4?.:. ;< .??.;0.
@AM 2;02;161. 9. 9BG 12
". =B2?A. ;< 2@AM 0<??20A.:2;A2 02??.1.
<;A?<92 @6 5.F =?2;1.@ .A?.=.1.@ 2; 9. =B2?A.
@AM 2;02;161. 9. 9BG 12
0<;A?<9 H'*.*3)&% F 2; 29
16@=9.F 02;A2992. H
62??2 9. =B2?A. 12/2 2@0B05.?@2 B; 0960
9 =?<4?.:. 0<;A6;X.
$< =B212 @292006<;.?@2 9.
C29<061.1 12 02;A?63B4.1<
)<1.CS. 2@AM 2; =?<4?2@< 29 02;A?63B4.1< B?.;A2 2@A2
=?<02@< ;< =B212 :<16360.?@2 9. C29<061.1 12
02;A?63B4.1<
(292006<;2 9. C29<061.1 .;A2@ 129 02;A?63B4.1<
9 @2920A<? 12 =?<4?.:. 2@AM [email protected]< . 2"*.
$< 2@ =<@6/92 29 02;A?63B4.1< 2; 2@A2 =?<4?.:.
(6 5.02 3.9A. @292006<;2 <A?< =?<4?.:.
.F ?2@61B<@ 12 12A2?42;A2
2; 29 0<:=.?A6:62;A<
0<??2@=<;162;A2
9 12A2?42;A2 2@AM 5X:21< < 4?B:<@<
"6:=62 F @2>B2 29 0<:=.?A6:62;A< =.?. 12A2?42;A2 +2?
=M46;. 
2; 29 0<:=.?A6:62;A<
0<??2@=<;162;A2
*@2 9. :2161. 12 9. /<A299. 12 12A2?42;A2 9S>B61< =.?.
:216?9<
9 .4B. ;< =2;2A?. 2; 9.
:M>B6;. 12 9.C.? < 29
12A2?42;A2 ;< 2@ .??.@A?.1<
"<@ 4?63<@ 12 .4B. 2@AM; ./62?A<@ /?. 9<@ 4?63<@ 12 .4B. F =?2@6<;2 29 /<AV; 4"24"53&
9 =?<4?.:. 0<;A6;X.
12A2?42;A2 ;< 2@ .??.@A?.1<
=<? 29 .4B. .9 6;A2?6<? 12 9.
:M>B6;.
". 9BG 6;160.1<?. H30*.
".@ :.;4B2?.@ 12 .96:2;A.06V; 2@AM; ?2A<?061.@
<Z=2?3<?.1.@
96:6;2 9. 0.B@.
". 9BG 6;160.1<?. H30*.
2@AM 2;02;161. F 2; 29
16@=9.F 02;A2992. 9.
"<@ 369A?<@ 2; 9. .96:2;A.06V; 12 .4B. 2@AM; </@A?B61<@ "6:=62 9<@ 369A?<@ 12 .002@< 129 .4B. +2? =M46;. 
16@=9.F 02;A2992. 9.
6;160.06V; H <ZH
". =?2@6V; 12 .4B. 2@ 12:[email protected]< /.7. 96:6;2 9. 0.B@.
background

",,/ $$*@. " 2&",*9"2"53" 0/3*#,&
$< @2 C2 .4B. 2; 29
A.:/<?
@A< ;< 2@ B; 3.99<
9 ;6C29 12 .4B. 2@AM =<? 12/.7< 129 ;6C29 C6@6/92 129 A.:/<?
(6; .4B. 2; 29 ?206=62;A2
@2 2;062;12 9. 9BG
6;160.1<?. H?6;@2 F 2; 29
16@=9.F @2 [email protected]. H
6;A2?:6A2;A2:2;A2
#B05. 2=B:. < /<:/. /9<>B2.1. *A69602 :2;<@ 12A2?42;A2 2; 0.?4.@ =<@A2?6<?2@
2A2?42;A2@ 2@=206.9:2;A2 12@.??<99.1<@ =.?. @B
9.C.1<?. 12 .9A< ?2;16:62;A< =?<1B02; :2;<@ 2@=B:. F
=?2@2;A.; 9.@ @649.@ H 2; 29 2:/.9.72 "6:=62 29 AB/<
12 12@0.?4. F< 9. :.;4B2?. 0<??2@=<;162;A2 6?2 29
@2920A<? 12 =?<4?.:.@ .ZH/'' FZCB29C. . 5.02? .??.;0.? 29
=?<4?.:. H%2"*.
(.92 .4B. 12 9. =.?A2
6;32?6<? 12 9. :M>B6;.
". ?<@0. 12 9.@ :.;4B2?.@ 12 .96:2;A.06V; ;< 2@AM
7B@A2 9.@ ?<@0.@
6;32?6<? 12 9. :M>B6;.
.F B;. =Q?161. 2; 9.@ :.;4B2?.@ .:/62 9. :.;4B2?. 12 .96:2;A.06V;
(.92 2@=B:. =<? 29
0<:=.?A6:62;A< =.?.
29Z12A2?42;A2
&B212 <0B??6? >B2 9. /<:/. ;< =B21. 2C.0B.? A<A.9:2;A2
9. 2@=B:. @6 @2 2:=92. 7./V; 2; 2E02@< < 7./<;2@ >B2 ;<
@<; 129 A6=< 
#2G092 B;. 0B05.?.16A. 12 @BC6G.;A2 =.?. ?<=. 0<;ZZ=A
½ 96A?< 12 .4B. F C6Q?A.9<@ 2; 29 0<:=.?A6:62;A<  =.?.
12A2?42;A2@
29Z12A2?42;A2
@<; 129 A6=< 
*A69602 :2;<@ 12A2?42;A2 2; 0.?4.@ =<@A2?6<?2@
2A2?42;A2@ 2@=206.9:2;A2 12@.??<99.1<@ =.?. @B
9.C.1<?. 12 .9A< ?2;16:62;A< =?<1B02; :2;<@ 2@=B:. F
=?2@2;A.; 9.@ @649.@ H 2; 29 2:/.9.72
2;A?63B4.1<@ ?2=2A61<@ @A< ;< 2@ B; 3.99<
9 @6@A2:. 12 /.9.;02< =.?. 9. 0.?4. 2@AM 6;A2;A.;1<
.0<:<1.? . Q@A. . A?.CQ@ 12 16C2?@<@ 02;A?63B4.1<@
.?4B2 @62:=?2 29 A.:/<? 0<; =?2;1.@ 4?.;12@
8A=2>B2U.@ 0<;7B;A.:2;A2
". ?<=. ;< @2 02;A?S3B4. (2 5.; 2;?21.1< =?2;1.@ 4?.;12@ F ;< =B212;
16@A?6/B6?@2 2; 3<?:. =.?27. 12;A?< 129 A.:/<?
2/61<Z.Z299< @2 @B=?6:2 29 02;A?63B4.1< . .9A.
C29<061.1 =<? ?.G<;2@ 12 @24B?61.1
.?4B2 @62:=?2 29 A.:/<? 0<; =?2;1.@ 4?.;12@
8A=2>B2U.@ 0<;7B;A.:2;A2
(2 =?<9<;4. 9. 1B?.06V;
129 =?<4?.:.
@A< ;< 2@ B; 3.99<
9 @6@A2:. 12 12A2006V; 12 2@=B:. . .4?24.1< B;
0609< 12 .09.?.1< .1606<;.9 =.?. ?21B06? 9. 0.;A61.1
12 2@=B:.
4?24B2 B;. 0.;A61.1 :M@ .120B.1. 12 12A2?42;A2
@A< ;< 2@ B; 3.99<
9 @6@A2:. 12 /.9.;02< =.?. 9. 0.?4. 2@AM 6;A2;A.;1<
.0<:<1.? . Q@A. . A?.CQ@ 12 16C2?@<@ 02;A?63B4.1<@
.?4B2 @62:=?2 29 A.:/<? 0<; =?2;1.@ 4?.;12@
8A=2>B2U.@ 0<;7B;A.:2;A2
'[email protected]<@ 12 9.C.1<
;<[email protected]@3.0A<?6<@
9 4?.1< 12 @B0621.1 2@ :.F<? >B2 29 2@A6:.1< (292006<;2 B; =?<4?.:. .120B.1<
<
&"68 %548 0<:< <=06V; .1606<;.9
$< 5.F @B36062;A2 12A2?42;A2 4?24B2 12A2?42;A2 @24X; 9.@ 2@=206360.06<;2@
129Z3./?60.;A2 129 :6@:<
.F ?2@61B<@ 12 12A2?42;A2
2; 9. ?<=.
94B;<@ 12A2?42;A2 96/?2 12 3<@3.A<@ 0<;A62;2; @B@A.;06.@
;< @<9B/92@ 2; .4B. >B2 .=.?202; 0<:<Z=2>B2U.@
:.;05.@ 2; 9. ?<=.
2=6992 9.@ :.;05.@ B;. C2G >B2 9. ?<=. 2@AM @20.
.F ?2@61B<@ 4?6@2@ @</?2 9.
?<=.
0B:B9.06V; 12 @B0621.1 @</?2 B;4Y2;A<@
4?.@.@Z<Z.026A2@
4?24B2 9. :ME6:. 0.;A61.1 12 12A2?42;A2 FZ@292006<;2
9. :.F<? A2:=2?.AB?. =2?:6A61.
9 @6@A2:. C6/?. B <@069.
:62;A?.@ =.@. 12
C29<061.12@ 12 02;A?63B4.1<
:2;<?2@ . @B=2?6<?2@
9 @6@A2:. 12 :<;A.72 129 A.:/<? =B212 12@=9.G.?@2
1B?.;A2 29 =?<02@< 12 .0292?.06V; @A< ;< ?2=?2@2;A. B;
12@=2?320A<
#2G092 =62G.@ 12 ?<=. =2>B2k5G 7CB CHF5G A5G
;F5B89G 5 :=B 89 A=B=A=N5F 9GH9 9:97HC
*= BC G9 DI989 GC@I7=CB5F 9@ :5@@C 7CB @5 5MI85 89 @5 H56@5 5BH9F=CF 5D5;I9 9@ 9@97HFC8CAgGH=7C 9GD9F9 G9;IB8CG JI9@J5 5
9B79B89F 9@ 9@97HFC8CAgGH=7C G9@977=CB9 9@ DFC;F5A5 M DlB;5@C 9B A5F7<5
*= 9@ DFC6@9A5 G=;I9 @@5A9 9@ G9FJ=7=C 5 7@=9BH9G -9F Dc;=B5 
background

)5BF939? 1 3<95>D5C
#5 AcEI=B5 89 @5J5F BC F9EI=9F9
89rCHFCG 7I=858CG 9GD97=5@9G 5D5FH9
89 5EI9@@CG 9GD97=:=758CG AcG 5FF=65
*= IGH98 H=9B9 5@;oB DFC6@9A5 7CB @5
AcEI=B5 89 @5J5F FC;5ACG 7CBGI@H5F @5
Dc;=B5  5BH9G 89 @@5A5F 9@ G9FJ=7=C
5r7@=9BH9G
*= G9 <579 B979G5F=C IB G9FJ=7=C
DlB;5G9 9B 7CBH57HC 7CB GI J9B898CF
=BGH5@58CF I CHFC 79BHFC 89 G9FJ=7=CG
5IHCF=N58C %C =BH9BH9 F9D5F5 9@
9@97HFC8CAgGH=7C IGH98 A=GAC
I5@EI=9F HF565>C F95@=N58C DCF
D9FGCB5@ BC 5IHCF=N58C <5Fc 758I75F
@5 ;5F5BHi5
*= H=9B9 DFC6@9A5G M BC 9GHc 7CB:CFA5
7CB 9@ G9FJ=7=C F97=6=8C
q FC;5ACG 7CAC DF=A9F5 A98=85
DCB9FG9 9B 7CBH57HC 7CB GI
=BGH5@58CF C 9@ G9FJ=7=C 5IHCF=N58C
89 GI cF95 9LD@=75B8C 5 EI9 G9
8969 GIr8=G7CB:CFA=858
q *= 89GDIgG 89@ HF565>C F95@=N58C
DCF GI =BGH5@58CF C Hg7B=7C 89
G9FJ=7=C 9@ DFC6@9A5 BC <5 G=8C
GC@I7=CB58C 5 GI G5H=G:577=lB
<c;5BCG@C G569F C 6=9B
9G7F=6=9B8C 5
* CA9 DD@=5B79G
 $7 5889B J9
IBH=B;HCB 957<  
& 6=9B @@cA9BCG 5
ss
+5BHC 9B 75GC 89 9G7F=6=F C 89 @@5A5F
=B:lFA9BCG F9GD97HC 89@
%oA9FC 89 AC89@C
%oA9FC 89 G9F=9
97<5 89 7CADF5 CF=;=B5@
97<5 9B @5 7I5@ <5 C7IFF=8C
9@rDFC6@9A5
LD@=757=lB 89@ DFC6@9A5
B 75GC EI9 BCG 9G7F=65 FC;5ACG
=B7@I=F IB BoA9FC H9@9:lB=7C 8=IFBC M
IB5 7CD=5 89 @5 :57HIF5 89 7CADF5
,GH98 9B7CBHF5Fc 9@ BoA9FC 89 AC89@C
M 89 G9F=9 GC6F9 @5 7<5D5
89r75F57H9FiGH=75G J=G=6@9 7I5B8C
@5rDI9FH5 9GHc 56=9FH5
background

"(S$  ($*Q "#*
'E5 3E2B5 I 1 AE5 C5 1@<931 5CD1
71B1>D\1
#5 ;5F5BHi5 @=A=H585 9A=H=85 DCF *
CA9 DD@=5B79G D5F5
9@97HFC8CAgGH=7CG 8CA=7=@=5F=CG G9
5D@=75 9L7@IG=J5A9BH9 5 @5 @5J58CF5
GG9B79 CG7< 7CADF585 DCF IGH98
9@ DF=A9F DFCD=9H5F=C G=9ADF9 EI9 9@
DFC8I7HC <5M5 G=8C 7CADF58C  D5F5
GI IGC BCFA5@ 8CAgGH=7C BC
7CA9F7=5@ M <5M5 G=8C IH=@=N58C 89
<97<C 9L7@IG=J5A9BH9 D5F5 IGC
8CA=7=@=5F=C BCFA5@ 8IF5BH9 @5 HCH5@=858
89@ H=9ADC  BI9JC 89@ 8=GHF=6I=8CF B=
7CAC J=GHC B= O9B GI 9GH58C 57HI5@ C
AC89@C 89 89JC@I7=lB BC G=9B8C
89GH=B585 5 @5 F9J9BH5 C IGC 7CA9F7=5@
M  89BHFC 89 @CG GH58CG ,B=8CG C
5B58c <56=gB8CG9 9B7CBHF58C
D9FA5B9BH9A9BH9 89BHFC 89@ D5=G 89
7CADF5 CF=;=B5@ #5G ;5F5BHi5G
7CBH9B=85G 9B 9GH9 8C7IA9BHC G9
5D@=75B 9L7@IG=J5A9BH9 5@ DF=A9F
7CADF58CF M BC GCB HF5BG:9F=6@9G
i
5JCF 89 9BJ=5ACG GI H5F>9H5 89
F9;=GHFC *= 6=9B BC 9G B979G5F=C
D5F5 @5 7C69FHIF5 89 @5 ;5F5BHi5 9G
@5 A9>CF A5B9F5 D5F5 CG7< D5F5
9@ 75GC =ADFC656@9 EI9 <5M5 EI9
<579F@9 @@9;5F IB 5J=GC 89
G9;IF=858 C EI9 <I6=9F5 EI9
F9;F9G5F 9@ DFC8I7HC 5 :c6F=75
EB139^> 45 <1 71B1>D\1 CG7<
;5F5BH=N5 EI9 9@ DFC8I7HC 9GHc @=6F9 89
:5@@5G 9B 9@ A5H9F=5@ C 896=85G 5 @5
DFC8I77=lB DCF IB H=9ADC 89
HF9G7=9BHCG G9G9BH5 M 7=B7C  8i5G 5
D5FH=F 89 @5 :97<5 89 7CADF5 @
D9F=C8C 89 H=9ADC A9B7=CB58C
5BH9F=CA9BH9 7CA=9BN5 7CB @5 :97<5
89 7CADF5 M BC DI989 =BH9FFIAD=FG9
DFC@CB;5FG9 9LH9B89FG9 C
GIGD9B89FG9 DCF F5NlB 5@;IB5
(5@1B139^>B531=29? 3?=? +>931
C?<E39^> IF5BH9 9@ D9F C8C 89
;5F5BHi5 CG7< C IBC 89 GIG G9FJ=7=CG
5IHCF=N58CG J5 5 F9D5F5F GI IB=858 @=6F9
89 7CGH9G GI>9HC 5 89H9FA=B589G
@=A=H57=CB9G EI9 G9 89H5@@5B 5EI  G=
9L=GH9B DFI965G 89 @5 9L=GH9B7=5 89
:5@@CG 9B 9@ A5H9F=5@ C 8IF5BH9 9@
DFC79GC 89 DFC8I77=lB *= @I9;C 89
=BH9BHCG F5NCB56@9G 89 F9D5F57=lB BC
G9 5FF=65 5 IB5 GC@I7=lB 579DH56@9
CG7< @9 F99AD@5N5Fc @5 IB=858
DI8=9B8C IGH98 577989F 5 DFC8I7HCG
AcG AC89FBCG 5 HF5JgG 89 IB 7CGH9
58=7=CB5@ G= CG7< 5G= @C 897=89
CG7< DI989 CDH5F DCF F9G9FJ5FG9 @5
DFCD=9858 89 @5G D5FH9G M
7CADCB9BH9G 75A6=58CG MC
F9D5F585GCG +C85G @5G D=9N5G
F99AD@5N585G C F9D5F585G 5GIA=FcB
@5G DFCD=98589G 89 @5G CF=;=B5@9G 5 @CG
:=B9G 89 9GH5 ;5F5BHi5 BC
9LH9B8=gB8CG9 @5 ;5F5BHi5 F9GD97HC 89
9GH5G D5FH9G #5 C6@=;57=lB M
F9GDCBG56=@=858 89 CG7< G9 @=A=H5 5
F9D5F5F DFC8I7HCG 7CB :5@@CG 89
DFC8I77=lB IH=@=N5B8C @CG G9FJ=7=C
5IHCF=N58CG 89BHFC 89 @CG <CF5F=CG
7CA9F7=5@9G IGI5@9G B 7I5BHC 5
89GD9F:97HCG 89 G9;IF=858 C FCHIF5G
CG7< F97CA=9B85 9B75F97=85A9BH9
BC F9D5F5F @5 IB=858 D9FGCB5@A9BH9 B=
IH=@=N5F DF9GH58CF9G 89 G9FJ=7=C BC
5IHCF=N58CG M5 EI9 BC 5GIA9
F9GDCBG56=@=858 I C6@=;57=lB 5@;IB5
DCF F9D5F57=CB9G C HF565>CG 9:97HI58CG
DCF DF9GH58CF9G BC 5IHCF=N58CG *=
IGH98 897=89 IH=@=N5F CHFC DF9GH58CF 89
G9FJ=7=CG EI9 5EI9@@CG 5IHCF=N58CG DCF
CG7< *+ )%+] ,)
%# %#$%+ 'F9GH58CF9G
5IHCF=N58CG GCB 5EI9@@5G D9FGCB5G C
7CADF5k=5G 9GD97=5@A9BH9 58=9GHF585G
D5F5 5H9B89F @CG DFC8I7HCG 89 CG7< M
EI9 DCG99B G9;oB @5 CD=B=lB 89
CG7< IB5 <56=@=858 Hg7B=75 M
:CFA57=lB AcG 58I97I585G D5F5 @CG
:=B9G 89@ G9FJ=7=C Hg7B=7C BlH9G9 EI9 G9
HF5H5 89 9BH=8589G =B89D9B8=9BH9G EI9
BC GCB 5;9B7=5G GC7=CG :=@=57=CB9G C
F9DF9G9BH5BH9G 89 CG7< *=B
D9F>I=7=C 89 @C 5BH9F=CF CG7< BC
579DH5 C6@=;57=lB B= 5GIA9
F9GDCBG56=@=858 5@;IB5 G= 9@ DFC8I7HC
G9 9AD@5N5 9B NCB5G 5@F9898CF9G C
5A6=9BH9G 5@9>58CG AcG 89  A=@@5G
89@ DF9GH58CF 89 G9FJ=7=C AcG DFlL=AC
C F5NCB56@9A9BH9 =B5779G=6@9
D9@=;FCGC =BG9;IFC C 7CADFCA9H=8C
B HC8CG 9GHCG 75GCG G= IGH98 @C
F9EI=9F9 CG7< D5;5Fc DCF 9@ HF565>C
@5G D5FH9G M GI 9BJ=C 5@ DF9GH58CF 89
G9FJ=7=C AcG 79F75BC G=9B8C IGH98
F9GDCBG56@9 DF 9@ HF5G@58C 9@ H=9ADC I
CHFCG 7CGH9G 89 @5 7CAD5k=5
5GIA=9B8C gGH5 57I9F89 F95@=N5F @5
DF9GH57=lB 89 G9FJ=7=C
&B?4E3D? 6E5B1 45 71B1>D\1 CG7<
BC 5GIA9 C6@=;57=lB 5@;IB5 @9;5@ C 89
CHFC H=DC 89 DFCJ99F@9 5779GCF=CG
=B7@IM9B8C F9D5F57=CB9G GIA=B=GHFC C
F99AD@5NC 89 DFC8I7HCG IB5 J9N @5
;5F5BHi5 <5 9LD=F58C
H3<EC9?>5C 45 <1 71B1>D\1 *9
9L7@IM9 89 @5 7C69FHIF5 89H5@@585 9B
9GH5 ;5F5BHi5 HC8CG @CG 85kCG C
89GD9F:97HCG EI9 BC G9 8965B 5 IB5
:5@9B7=5 8=F97H5 89 CG7< =B7@IM9B8C
G=B @=A=H9G IBC C AcG 8 9@CG G=;I=9BH9G
DIBHCG  9@ IGC 89@ DFC8I7HC 9B
:CFA5 8=GH=BH5 5 @5 BCFA5@ C 9B
89G57I9F8C 7CB 9@ IGC 896=8C
=B7@IM9B8C G=B @=A=H57=CB9G 7I5@EI=9F
:CFA5 89 IGC 7CA9F7=5@ IGC C
5@A579B5A=9BHC 89 DFC8I7HCG
89GH=B58CG D5F5 9@ =BH9F=CF 9B 9@
9LH9F=CF IGC 89@ DFC8I7HC 9B
7CA6=B57=lB 7CB A98=CG 89 HF5BGDCFH9
5gF9CG C 57IcH=7CG  9@ A5@ IGC
=BH9BG=CB5@ B9;@=;9B7=5 IGC =ADFCD=C
577=89BH9 CD9F57=lB =B5897I585
=BGH5@57=lB =B5897I585 C B9;@=;9BH9
J5B85@=GAC 89G5H9B7=lB 89 @5G
=BGHFI77=CB9G 89 :IB7=CB5A=9BHC :5@H5
89 A5BH9B=A=9BHC F9D5F57=CB9G
9:57HI585G DCF D9FGCB5@ BC 5IHCF=N58C
=B7@IM9B8C 9@ O:=L=B; C @5 9LD@CF57=lB
89@ :IB7=CB5A=9BHC =BH9FBC 89@
9@97HFC8CAgGH=7C 9B :CFA5 BC
5IHCF=N585  5>IGH9 5@H9F57=lB C
AC8=:=757=lB 89 7I5@EI=9F H=DC  IB
:5@@C 896=8C 5@ =B7IAD@=A=9BHC 89
7I5@EI=9F BCFA5 F9;@5 C @9M 9GH5H5@
@C75@ AIB=7=D5@ C B57=CB5@ 9@g7HF=75
89 D@CA9F 5 MC 98=@=7=5 =B7@IM9B8C
:5@@CG 896=8CG 5 @5 =BGH5@57=lB 89@
9EI=DC 9B 8=G7CB:CFA=858 7CB F9;@5G
7CBHF5 9@ =B79B8=C C 89 BCFA5G
98=@=7=5G  DF9B85G C ;gB9FCG
5@=A9BHCG 89GD5FF5A58CG C @ EI=8CG
89FF5A58CG 57IAI@57=CB9G 89 ;F5G5G
I CHF5G GIGH5B7=5G GC6F9 9B C
5@F9898CF 9@ DFC8I7HC M  7I5@EI=9F
:I9FN5 C :57HCF 9LH9FBC C 89@ A98=C
5A6=9BH9 =B7@IM9B8C G=B @=A=H9G @5
@@IJ=5 9@ J=9BHC 5F9B5 =BIB857=CB9G
=B79B8=CG 5J5@5B7<5G 89 @C8C
H9AD95HIF5G DCF 8965>C 89@ DIBHC 89
7CB;@957=lB <IA9858 9L79G=J5 C
9LDCG=7=lB 89A5G=58C DFC@CB;585 5 @5
A=GA5 F9@cAD5;CG GC6F9 H9BG=CB9G
:5@@CG 9GHFI7HIF5@9G 9B @CG 5@F9898CF9G
89@ 9@97HFC8CAgGH=7C C 9J9BHCG 89
:I9FN5 A5MCF B B=B;I6C 89 9GHCG
75GCG CG7< 5GIA9 C6@=;57=lB C
F9GDCB56=@=858 5@;IB5 5@ =;I5@ EI9 DCF
85kCG DFC8I7=8CG 9B @5 DFC=D9858
7=F7IB85BH9 =B7IM9B8C AI96@9G
D=GCG 7=9@CFF5GCG M CHF5G 9GHFI7HF5G M
C6>97HCG EI9 FC895B 9@ DFC8I7HC
+5A6=gB G9 9L7@IM9B 89 9GH5 ;5F5BHi5
F5@@58IF5G AI9G75G 56C@@58IF5G
A9BCF9G M 85kCG 9B @5 J=GH5 C 9B
GID9F:=7=9G 9LH9FB5G 9LDI9GH5G
'FC8I7HCG 9B @CG 7I5@9G <5M5 G=8C
5@H9F58C 6CFF58C C 9@=A=B58C 9@
BoA9FC 89 G9F=9 C 6=9B J=G=H5G 89
G9FJ=7=C 9B @5G 7I5@9G 9@ 9EI=DC BC
<5M5 DF9G9BH58C 89GD9F:97HC D5F5
7CFF977=lB 89 89GD9F:97HCG 9B @5
=BGH5@57=lB IGH98 9G 9@ oB=7C
F9GDCBG56@9 DCF HC85 @5 IH=@9F 5 M @5
=B:F59GHFI7HIF5 D5F5 9@ DFC8I7HC
=B7@IM9B8C @5G =BGH5@57=CB9G 9@g7HF=75G
89 D@CA9F 5 I CHF5G 7CB9L=CB9G DCF @5
:IB85A9BH57=lB 5897I585 M DCF
7I5@EI=9F AC8=:=75H=lB =B7@IM9B8C G=B
@=A=H57=CB9G @CG AI96@9G D5F589G
D=GCG 9GH5BH9F 5G 9H7 M @5 DI9GH5 9B
A5F7<5 C F9D5F57=lB 89 =BH9FFIDHCF9G C
:IG=6@9G $*(%  "% '+
#( " "/ )* ($*Q
*(#$ )+) (+()%)
()&*%  )* &(%+*%
*$*% "%) ("#%)
%$*(*+") %#%
$+$%) %  %*( Q$%"
background

*$*% $ +$*%
()&%$)" )%"+*
%#% &%( )+% )*
($*Q ," $ "+( 
*% %*( ($*Q *$*%
#&"Q* %#% &"Q*
+"'+( %*( ($*Q
* &%( " "/ ()&*%
 %#("0S$#%
+S$ &( +$
&(%&S)*% &(*++"( )(O
,O" ."+),#$* &%( "
&(Q%%  ,"P0  )*
($*Q "#* $ $$U$
)% " ($* )(O
()&%$)" &%(
)&(*%) )&")
$$*") $(*%) %
&+$*,%) &P() % %)*)
$"+/$% &P() 
*#&%  *( % %)*) 
%*") "#$*%) %)*)
 +S$ %
R%) %)
."+),#$* %)
"+$%) )*%) $%
&(#*$ " ."+)S$ %
"#*S$ &%( R%)
$$*") % ()+"*$*) /
%*(%) $% &(#*$
"#*%$) $ " +(S$
 ") $$*Q) $ )*%)
&Q)) +)* $% )*O
*% &%( ")
"#*%$) ()&*,) '+Q
)(*) )* ($*Q "
 (%) "")
)&Q%) &+$% +)*
*$( %*%) (%) '+
,(Q$  +$ )*% %*(%
%C =BH9BH9 5@H9F5F AC8=:=75F C
9BA9B85F 9GH5 ;5F5BHi5 G=B @5
5IHCF=N57=lB 9G7F=H5 C:=7=5@ 89 *
?=? 133545B 1 <?C C5BF939?C 45
71B1>D\1 :=B 89 C6H9B9F G9FJ=7=CG 89
;5F5BHi5 D5F5 GI DFC8I7HC 8969Fc
7CBH57H5F 9@ 79BHFC 89 G9FJ=7=C Hg7B=7C
CG7< AcG 79F75BC 5 GI 8CA=7=@=C
* CA9 DD@=5B79G
 $75889B J9BI9
IBH=B;HCB 957<
 

background

"(S$  ($*Q &(a",%() %)
#5G ;5F5BHi5G 6F=B8585G DCF *
CA9 DD@=5B79G OCG7< 9B
9GH5r897@5F57=lB GCB 5D@=756@9G
oB=75A9BH9 5 @5J58CF5G CG7<
J9B8=85G 5@ 7CBGIA=8CF :=B5@ DCFrCG7<
C GIG 7CA9F7=5BH9G 5IHCF=N58CG
F9J9B898CF9G Cr79BHFCG 89 G9FJ=7=C 9B
@CG GH58CG ,B=8CG C 5B58c
#5Gr;5F5BHi5G 5EIi 89G7F=DH5G BCrGCB
HF5BG:9F=6@9G
<   ;
,$".$&3 %& ," ("2".4?"
:=96. 4.?.;AS. 96:6A.1. . B; .U<
. =.?A6? 12 9. 3205. 12 6;@A.9.06V;
<@05 @2 5.?M 0.?4< 96/?2 12 0<@A<@ 12 9. ?2=.?.06V; < ?22:=9.G< 12
0B.9>B62? 0<:=<;2;A2 >B2 =?2@2;A2 12320A<@ 2; 0<;1606<;2@ 12 B@<
1<:60696.?6< ;<?:.9 6;09BF2;1< 9<@ 0<@A<@ 12 :.;< 12 </?. F A?.;@=<?A2
". ?2=.?.06V; 0B/62?A. =<? 9. 4.?.;AS. 12/2?M 2320AB.?@2 2; B; 2;A?< 12
(2?C606< BA<?6G.1< <@05 @2 2E09BF2; .@=20A<@ 2@AQA60<@
.?.;AS. 96:6A.1. . .U<@
. =.?A6? 12 9. 3205. 12 6;@A.9.06V;
<@05 =?<C22?M =62G.@ 12 ?20.:/6< 96/?2 12 0<@A<@ =.?. 0B.9>B62?
0<:=<;2;A2 >B2 =?2@2;A2 12320A<@ 2; 0<;1606<;2@ 12 B@< 1<:60696.?6<
;<?:.9 6;09BF2;1< 9<@ 0<@A<@ 12 A?.;@=<?A2
.?.;AS. 96:6A.1. . 0<:=<;2;A2@ 2920A?V;60<@ =<? .U<@
. =.?A6? 12 9. 3205. 12 6;@A.9.06V;
<@05 @2 5.?M 0.?4< 96/?2 12 0<@A<@ 12 9. ?2=.?.06V; < ?22:=9.G< 12
=9.0.@ 12 :60?<=?<[email protected]<?2@ < 6:=?2@.@ >B2 =?2@2;A2; 12320A<@ 2;
0<;1606<;2@ 12 B@< 1<:60696.?6< ;<?:.9 =<? B; =2?S<1< 12 1<@ .U<@
.Z=.?A6? 12 9. 3205. 12 @B =?6:2?. 6;@A.9.06V; 2E09BF2;1< 0<@A<@ 12 :.;<
12 </?.
.?.;AS. 96:6A.1. .9 :<A<? =<? .U<@
. =.?A6? 12 9. 3205. 12 6;@A.9.06V;
<@05 @2 5.?M 0.?4< 96/?2 12 0<@A<@ 12 9. ?2=.?.06V; < ?22:=9.G<
12ZA<1< :<A<? < 0<:=<;2;A2 129 :6@:< >B2 =?2@2;A2 12320A<@ 2;
0<;1606<;2@ 12 B@< 1<:60696.?6< ;<?:.9 =<? B; =2?S<1< 12 1<@ .U<@ .
=.?A6? 12 9. 3205. 12 @B =?6:2?. 6;@A.9.06V; 2E09BF2;1< 0<@A<@ 12 :.;<
12 </?.
". 3205. 12 6;@A.9.06V; @2 ?2362?2 < /62; . 9. 3205. 12 6;@A.9.06V; 12 9. 9.C.1<?. =?<=6.:2;A2 1605. < . 162G 1S.@ 5M/692@ . =.?A6? 12 9. 3205. 12
2;A?24.
H3<EC9?>5C
GH5 ;5F5BHi5 BC 7I6F9 @@5A585G 89
G9FJ=7=C C F9D5F57=CB9G D5F5 7CFF9;=F @5
=BGH5@57=lB 89 @5 @5J58CF5 GIA=B=GHF5F
=BGHFI77=CB9G F9:9F9BH9G 5@ IGC 89 @5
A=GA5 F99AD@5N5F :IG=6@9G 8CA=7=@=5F=CG
C F9D5F57=CB9G 89 D@CA9Fi5 C 756@958C
9B 9@ 8CA=7=@=C 89@rIGI5F=C C D5F5 F9D5F5F
7I5@EI=9F @5J58CF5 EI9 :I9 IG585 9B
:CFA5 8=:9F9BH9 5 @5 BCFA5@ C IGI5@ 5 @5
8CA=7=@=5F=5
8=7=CB5@A9BH9 @5G ;5F5BHi5G DFCJ=GH5G
9B 9GH5 897@5F57=lB 9L7@IM9B HC8C
89:97HC C 85kC DFCJ9B=9BH9 89
577=89BH9 5@H9F57=lB IGC =B5897I58C
56IGC =BGH5@57=lB =B5897I585
HF565>CG 89 G9FJ=7=C BC 5IHCF=N58C
=B:@I9B7=5G 9LH9FB5G AcG 5@@c 89 @CG
5@75B79G 89 CG7< 7CAC :I9;C
=BIB857=CB9G :I9FN5 A5MCF
Cr=BGH5@57=lB 9B 89G57I9F8C 7CB F9;@5G
@C75@9G 89 D@CA9Fi5 M 9@97HF=7=858
CGHCG 89 A5BC 89 C6F5 DFC8I7=8CG
DCF @5 F9D5F57=lB C F99AD@5NC 89 @5G
@5J58CF5G 89GDIgG 89 IB D9FiC8C 89
IB 5kC 5 D5FH=F 89 @5 :97<5 89
=BGH5@57=lB DI989B BC 9GH5F 7I6=9FH5G
DCF 9GH5 ;5F5BHi5 +C85G M 7585 IB5
89r@5 D=9N5G F9D5F585G MC 75A6=585G
8969FcB G9F CF=;=B5@9G C 5IHCF=N585G
5r@CG :=B9G 89 5D@=757=lB 89@ D9FiC8C
89r;5F5BHi5
%+)& # $)&  #r#0
*+ )%+] -# % #,) 
+& &+) )%+] $'#] + &
/'#] + %#,0%& #*
)%+]* $'#] +* 
&$) # 1 _% 0 '+ +,
') ,*&* ')+ ,#)* &*
%& *,$ )*'&%* # 
#,% '&) ^&* % %+#*
&r) -&*
') *&#  +) *)-  &*  s
)%+]  )  )* # %+)& 
*)-  & &* $* )%& &
##$) # 
& *)  ) 
* &$ ''# %*
++% *)- 
 $ % -
,%+ %+&%   
*a)*  )) # $&s
#& 0 # %a$)&  *)  r*,
#-&) #   &$')
%&$) 0  ) _% # -%s
&)  ,%& &,)) _ #
')&#$ +#\&%& &%
', #Y)*# % &)) &
 ,)%& 0 ,% &'   *, +,s
)  -%+
background

background

background

          
               
$')+,)
,) 1% #
')&)$
,%+ &%*   &%#*  -/,4 2/ "':+  $+ *'+21,0
#*  +! &*
8+& +0$ -/$0$+1$0 ),0 0'*!,),0 .2$ %'&2/ + $+
) 0 $1'.2$1 0 #$ ) 0 -/$+# 0
)&)$
$')+,)
% / /
')&)$
)& 
*, 
% $ %,+&*
'')&.
-&
%+%* -&
- / /,- *25
02"' 
, .+)
") / #,
#'"',+ )
#%(,&)
 % %+)   %#
$),"'# # #$ "$+1/'%2& #,
0. $ )
$ *#
/$+# 0 #$ 1$('#,0 /$0'01$+1$0
#$ )&,#:+ , )'+,
1$) #$)
",),/% 01
,#)&++&% &+   

;
 /& ",*-)$1
#$ )&,#:+ , )'+,

1$) 0 #$)
,#)&++&% )$   

;
 /& ",*-)$1

1$) 0 #$)
+,+",),/% 01
,#)&++&% &#   
1$) #$)
 * )
 



,- 05+181'" #$ )&,#:+
1$) #$)
",),/% 01
 * )
 



,- 05+181'" #$ )&,#:+
1$('#,0 0'+181'",0 , *'41,0

1$) 0 #$)
)$%%+ )** )$   

; 
 " /&

1$) 0 #$)
+,+",),/% 01
)$%%+ )** &#
 


; 
 " /&
+,+",),/% 01
)$%%+ )** &#
 

,- #$)'" #, 5 1$('#,0 0'+181'",0
 /$+# 0 3,)2*'+,0 0
# +* #"   


;
 " /&
/$+# 0 *25 #$)'" # 0


 " /&
/$+# 0 *25 #$)'" # 0
% *
 



;
 " /&
/$+# 0 *25 #$)'" # 0

% *
 

;
 
#+&) 
')&)$*
-)+% * '#  1% ,) 1% # ')&)$ % $ %,+&* ')&.
#)& '"), #$ ") / #, - / -/$+# 0 -," 02"' 0 1 *!'8+ ",+ 02 3'6 +1$ ,+")25$ ",+ 2+ !/$3$ "$+1/'%& #, 
%+) ,  &%# '"), - / "$+1/'%2& #, #$ -/$+# 0 02$)1 0 ) 3 # 0 * +, ) &2 #$ ) 3 #, 0$ #$0" /& +1$0 /$)'6 / $) "$+1/'%2& #,
*,) $0" /& #$) &2 #$) ") / #, 1/ 0 2+ -/,&/ * ",+ ) 3 #, ",+ ) ,-"':+ '+ "$+1/'% %'+ )
#2/ "':+ $%$"1'3 #$ ),0 -/,&/ * 0 -2$#$ #'3$/&'/ #$ ),0 3 ),/$0 /$0$9 #,0 $+ %2+"1':+ #$ ) -/$0':+ 5 ) " )'# # #$) &2 #$ /$# ) ") 0$ 5 " +1'# # #$ ) 0 -/$+# 0 " /& # 0 $+ ) *7.2'+  0' ",*, $) #$1$/&$+1$
$*-)$ #,
background

     
              
+$ # ("%+
!$%'(%
%#%! (%'#"
'#" #$'#"& --/,5  7 '*# '+ *'+
*!(!
+$ # ("%+
&#!( !/# ) #)0 ,+ /1'!)#
%#%!
!$%'(%
" , ,
%#%! (%'#"
"!"
$$%#*
#)% &
$,/ &#36 0,')#"
"& $ (&
""'1',+) '+0#
 
"# " &$"
0-'+ 0-##" 0#)#!1',+
*!(!
!#("' #
("%+
,11,+ ,/ )'+#+
!,),/$01 $ /'!0 ( %#''#" #'   
,11,+ ,/ )'+#+

+,+7!,),/$01
( %#''#" %!   

7
$2)) ),"

+,+7!,),/$01
$ /'!0
( %#''#" #    

7
$2)) ),"
!,),/$01 $ /'!0
& %
 



6+1&#1'!0 ,/ )#+"0
!,),/$01 $ /'!0
& %
 



6+1&#1'!0 ,/ )#+"0

+,+7!,),/$01
%!""' %&& %!   

7 
 ),"

+,+7!,),/$01
$ /'!0
%!""' %&& # 
 


7 
 ),"
$ /'!0
%!""' %&& # 
 

#)'!1# #06 !/# '1#*0
 2)(6 '1#*0
 '&    


7
 ),"
#/6 "#)'!1# #06 !/# '1#*0


 ),"
#/6 "#)'!1# #06 !/# '1#*0
" &
 



7
 ),"
#/6 "#)'!1# #06 !/# '1#*0

" &
 

7
 
%#%! & '#% #'& $$ '#" %#%! (%'#" "!" $$%#*
# ,( !6!)# '0 20#" 1, -/#1/#1 &#3')6 01'+#" '1#*0 &# !6!)# #+"0 4'1& 0&,/1 0-'+ 
$" -'+ !6!)# $,/ 0-'++'+% &+"740&#" )2+"/6 /'+ -2*- ,-#/1#0 -/',/ 1, +" "2/'+% 0-'++'+%
%" , "/'+ 41#/ $1#/ -/,%/* 4'1& 1&# , $'+) 0-'+ ,-1',+ $,/ %#+1)# 1/#1*#+1 ,$ "#)'!1# )2+"/6
!12) -/,%/* "2/1',+ *6 # "'$$#/#+1 $/,* 1&# '+"'!1#" 3)2#0 "#-#+"'+% ,+ 41#/ 02--)6 +" .2)'16 16-# +" *,2+1 ,$ )," +" "#1#/%#+1 0 4#)) 0 ,1&#/ $!1,/0
,#* 


Specifications

Indexed Terms: Front Load Washer

Bosch WFMC2201UC/15 Questions and Answers