0YGEW8LI%VXSJ4YFPMG
7TIEOMRK8IRXL)HMXMSR
1IXLSHWSJ4IVWYEWMSR 8I\X 8LI1G+VE[n,MPP
'SQTERMIW
',%48)61)8,3(73*4)679%7-32
0SKMGMERW LEZI MHIRXMJMIH QSVI XLER HMJJIVIRX JEPPEGMIW )EVPMIV MR
XLMWGLETXIV[IHMWGYWWIHXLVIISJXLIQSWXMQTSVXERXLEWX]KIRIVEPM^EXMSR
TEKIWi
JEPWIGEYWITEKIWi
ERHMRZEPMHEREPSK]TEKIWi
,IVI[IPSSOEXJMZISXLIVJEPPEGMIW]SYWLSYPHKYEVHEKEMRWX
6IH,IVVMRK
8LIREQISJXLMWJEPPEG]GSQIWJVSQERSPHXVMGOYWIHF]JEVQIVWMR)RKPERH
XSOIITJS\LYRXIVWERHXLIMVLSYRHWJVSQKEPPSTMRKXLVSYKLXLIGVSTW
&]HVEKKMRKEWQSOIHLIVVMRK[MXLEWXVSRKSHSVEPSRKXLIIHKISJXLIMV
JMIPHWXLIJEVQIVWGSYPHXLVS[XLIHSKWSJJXVEGOF]HIWXVS]MRKXLIWGIRXSJ
XLIJS\
%WTIEOIV[LSYWIWEVIHLIVVMRKMRXVSHYGIWERMVVIPIZERXMWWYIMRSVHIVXS
HMZIVXEXXIRXMSRJVSQXLIWYFNIGXYRHIVHMWGYWWMSR*SVMRWXERGI
,S[HEVIQ]STTSRIRXWEGGYWIQISJTSPMXMGEPGSVVYTXMSREXEXMQI[LIR[IEVI
[SVOMRKXSMQTVSZIXLIUYEPMX]SJPMJIJSVEPPTISTPIMRXLI9RMXIH7XEXIW
;LEXHSIWXLIWTIEOIVtWGSRGIVREFSYXXLIUYEPMX]SJPMJIMRXLI97LEZI
XSHS[MXL[LIXLIVLISVWLIMWKYMPX]SJTSPMXMGEPGSVVYTXMSR#2SXLMRK-XMWE
VIHLIVVMRKYWIHXSHMZIVXEXXIRXMSRE[E]JVSQXLIVIEPMWWYI
%H,SQMRIQ
0EXMRJSVqEKEMRWXXLIQERrEHLSQMRIQVIJIVWXSXLIJEPPEG]SJEXXEGOMRKXLI
TIVWSRVEXLIVXLERHIEPMRK[MXLXLIVIEPMWWYIMRHMWTYXI*SVMRWXERGI
8LILIEHSJXLIGSQQIVGIGSQQMWWMSRLEWERYQFIVSJMRXIVIWXMRKIGSRSQMGTVSTSW
EPWFYXPIXtWRSXJSVKIXXLEXWLIGSQIWJVSQEZIV][IEPXL]JEQMP]
&]MQTYKRMRKXLIGSQQMWWMSRIVtWJEQMP]FEGOKVSYRHVEXLIVXLERHIEPMRK[MXL
XLIWYFWXERGISJLIVIGSRSQMGTVSTSWEPWXLIWTIEOIVMWIRKEKMRKMREREH
LSQMRIQEXXEGO
7SQIXMQIWSJGSYVWIETIVWSRtWGLEVEGXIVSVMRXIKVMX]GERFIEPIKMXM
QEXIMWWYIhEWMRXLIGEWISJETSPMGIGLMIJ[LSZMSPEXIWXLIPE[SVEGSVTS
VEXITVIWMHIRX[LSW[MRHPIWWXSGOLSPHIVW-RWYGLGEWIWEWTIEOIVQMKLX
[IPPVEMWIUYIWXMSRWEFSYXXLITIVWSR[MXLSYXFIMRKKYMPX]SJXLIEHLSQMRIQ
JEPPEG]
)MXLIV3V
7SQIXMQIWVIJIVVIHXSEWEJEPWIHMPIQQEXLIIMXLIVSVJEPPEG]JSVGIWPMWXIRIVW
XSGLSSWIFIX[IIRX[SEPXIVREXMZIW[LIRQSVIXLERX[SEPXIVREXMZIWI\MWX*SV
I\EQTPI
8LIKSZIVRQIRXQYWXIMXLIVVEMWIXE\IWSVVIHYGIWIVZMGIWJSVXLITSSV
8LMWWXEXIQIRXSZIVWMQTPMJMIWEGSQTPI\MWWYIF]VIHYGMRKMXXSEWMQTPI
IMXLIVSVGLSMGI-WMXXVYIXLEXXLISRP]GLSMGIWEVIXSVEMWIXE\IWSVXSVIHYGI
WIVZMGIWJSVXLITSSV#%GEVIJYPPMWXIRIVQMKLXEWOq;LEXEFSYX GYXXMRK
XLI EHQMRMWXVEXMZI GSWX SJ KSZIVRQIRX SV IPMQMREXMRK TSVOFEVVIP TVSNIGXW
MRWXIEH#r
VIHLIVVMRK
%JEPPEG]XLEXMRXVSHYGIWER
MVVIPIZERXMWWYIXSHMZIVX
EXXIRXMSRJVSQXLIWYFNIGX
YRHIVHMWGYWWMSR
EHLSQMRIQ
%JEPPEG]XLEXEXXEGOWXLITIVWSR
VEXLIVXLIRHIEPMRK[MXLXLI
VIEPMWWYIMRHMWTYXI
IMXLIVSV
%JEPPEG]XLEXJSVGIWPMWXIRIVW
XSGLSSWIFIX[IIRX[S
EPXIVREXMZIW[LIRQSVI
XLERX[SEPXIVREXMZIWI\MWX
JEPPEG]
%RIVVSVMRVIEWSRMRK