0YGEW8LI%VXSJ4YFPMG
7TIEOMRK8IRXL)HMXMSR
7TIEOMRKMR4YFPMG 8I\X 8LI1G+VE[n,MPP
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',%48)6 74)%/-2+-249&0-'
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FIKMRRMRKSJXLMWGLETXIV;LIREHHVIWWMRKXLIWGLSSPFSEVHEFSYXXLIRIIH
JSVEWTIGMEPXIEGLIV
=SYSVKERM^I]SYVMHIEWXSTVIWIRXXLIQMRXLIQSWXTIVWYEWMZIQERRIV
=SYWXIEHMP]FYMPHYTEGSQTIPPMRKGEWIEFSYXLS[XLIXIEGLIVFIRIJMXWXLI
WGLSSP
=SYXEMPSV ]SYV QIWWEKIXS]SYVEYHMIRGI8LMWMWRSXMQIXSPEYRGLER
MQTEWWMSRIHHIJIRWISJWTIGMEPIHYGEXMSRMRXLI9RMXIH7XEXIW=SYQYWX
WLS[LS[XLIMWWYIMWMQTSVXERXXSXLITISTPIMRXLEXZIV]VSSQhXSXLIMV
GLMPHVIRERHXSXLIWGLSSP
=SYXIPP]SYVWXSV]JSVQE\MQYQMQTEGX4IVLETW]SYVIPEXIERERIGHSXIXS
HIQSRWXVEXILS[QYGL]SYVGLMPHLEWMQTVSZIH=SYEPWSLEZIWXEXMWXMGW
XSWLS[LS[QER]SXLIVGLMPHVIRLEZIFIIRLIPTIH
=SYEHETXXSPMWXIRIVJIIHFEGO;LIR]SYQIRXMSRXLIGSWXSJXLIWTIGMEP
XIEGLIV]SYRSXMGIWSYVPSSOWSRXLIJEGIWSJXLIWGLSSPFSEVHQIQFIVW
7S]SYTEXMIRXP]I\TPEMRLS[WQEPPXLEXGSWXMWMRVIPEXMSRXSXLISZIVEPP
WGLSSPFYHKIX
-RQER][E]WXLIRTYFPMGWTIEOMRKVIUYMVIWXLIWEQIWOMPPWYWIHMRSVHMREV]
GSRZIVWEXMSR1SWXTISTPI[LSGSQQYRMGEXI[IPPMRHEMP]XEPOGERPIEVRXSGSQ
QYRMGEXINYWXEW[IPPMRTYFPMGWTIEOMRK&]XLIWEQIXSOIRXVEMRMRKMRTYFPMG
WTIEOMRKGERQEOI]SYEQSVIEHITXGSQQYRMGEXSVMREZEVMIX]SJWMXYEXMSRW
WYGLEWGSRZIVWEXMSRWGPEWWVSSQHMWGYWWMSRWFYWMRIWWQIIXMRKWERHMRXIVZMI[W
(MJJIVIRGIW&IX[IIR4YFPMG7TIEOMRKERH'SRZIVWEXMSR
(IWTMXIXLIMVWMQMPEVMXMIWTYFPMGWTIEOMRKERHIZIV]HE]GSRZIVWEXMSREVIRSX
MHIRXMGEP-QEKMRIXLEX]SYEVIXIPPMRKEWXSV]XSEJVMIRH8LIRMQEKMRI]SYVWIPJ
XIPPMRKXLIWXSV]XSEKVSYTSJWIZIRSVIMKLXJVMIRHW2S[MQEKMRIXIPPMRKXLI
WEQIWXSV]XSSVTISTPI%WXLIWM^ISJ]SYVEYHMIRGIKVS[W]SY[MPPJMRH
]SYVWIPJEHETXMRKXSXLVIIQENSVHMJJIVIRGIWFIX[IIRGSRZIVWEXMSRERHTYFPMG
WTIEOMRK
4YFPMGWTIEOMRKMWQSVILMKLP]WXVYGXYVIH-XYWYEPP]MQTSWIWWXVMGXXMQI
PMQMXEXMSRWSRXLIWTIEOIV-RQSWXGEWIWXLIWMXYEXMSRHSIWRSXEPPS[PMWXIRIVW
XSMRXIVVYTX[MXLUYIWXMSRWSVGSQQIRXEV]8LIWTIEOIVQYWXEGGSQTPMWLLIV
SVLMWTYVTSWIMRXLIWTIIGLMXWIPJ-RTVITEVMRKXLIWTIIGLXLIWTIEOIVQYWX
ERXMGMTEXIUYIWXMSRWXLEXQMKLXEVMWIMRXLIQMRHWSJPMWXIRIVWERHERW[IV
XLIQ'SRWIUYIRXP]TYFPMGWTIEOMRKHIQERHWQYGLQSVIHIXEMPIHTPERRMRK
ERHTVITEVEXMSRXLERSVHMREV]GSRZIVWEXMSR
4YFPMG WTIEOMRK VIUYMVIW QSVI JSVQEP PERKYEKI7PERKNEVKSRERHFEH
KVEQQEVLEZIPMXXPITPEGIMRTYFPMGWTIIGLIW%WERKV]EWLIMWEFSYXMRHYWXVMEP
TSPPYXMSR[LIR:ER.SRIWWTIEOWXSEGSRKVIWWMSREPGSQQMXXIILIHSIWRtX
WE]q;ItZIHEQR[IPPKSXXSWXSTXLIKVIIH]GVIITW[LSTSPPYXIPS[MRGSQI
GSQQYRMXMIWNYWXXSQEOIEJI[QSVIFYGOWr0MWXIRIVWYWYEPP]VIEGXRIKEXMZIP]
XSWTIEOIVW[LSHSRSXIPIZEXIERHTSPMWLXLIMVPERKYEKI[LIREHHVIWWMRKER
EYHMIRGI%WTIIGLWLSYPHFIqWTIGMEPr