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1MGVSWSJX4S[IV4SMRX1HYPS
8IVMGS]4VGXMGS
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1MGVSWSJX4S[IV4SMRX
1MGVSWSJX4S[IV4SMRX
&MIRZIRMHSWEP ETEWMSRERXI1YRHSHI PE -RJSVQXMGE
)RIWXI1HYPSMRXIRXEVIQSWKYMEVPSIRIPETVIRHM^ENIHI1MGVSWSJX4S[IV4SMRX
1MGVSWSJX4S[IV4SMRXIWYRTVSKVEQETEVEPEGVIEGMR]I\LMFMGMRHITVIWIRXEGMSRIWQYPXMQIHMEGY]EZIRXENETVMRGMTEPIWIPGSRXVSPHIPEMRJSVQEGMR]PEJSVQEHITVIWIRXEVPEMRGPY]IRHSPSWVIGMIRXIWEZERGIWIRQYPXMQIHMEQIHMERXIPEGSQFMREGMRHIXI\XSWMQKIRIW GSPSVIW JSVQEW HMFYNSW IJIGXSW HI ERMQEGMR ] WSRMHSW WYQEHS E PEGVIEXMZMHEHHIPYWYEVMSLEGIRHIPEWTVIWIRXEGMSRIWYREXGRMGEYXMPM^EHEIRRYQIVSWEWWMXYEGMSRIW
)WXI1HYPSLE WMHS TIRWEHS TEVE UYI TYIHE ETPMGEV PSW GSRSGMQMIRXSW UYII\TVIWEJYRHEQIRXEPQIRXIIRIPQFMXS0EFSVEPTEVEPE)\TSWMGMRHIHMJIVIRXIWXMTSWHI4VS]IGXSW)HYGEGMR)RWIER^EIXG
)RPEWWMKYMIRXIWTKMREWZEQSWEI\TPMGEVPIPEWTVMRGMTEPIWLIVVEQMIRXEWTEVEIPQERINSHIYRTVSKVEQEHITVIWIRXEGMSRIWQYPXMQIHMEUYIPITIVQMXMVGSQTVIRHIVIPQIGERMWQSUYIYXMPM^E1MGVSWSJX4S[IV4SMRXTEVEUYIWYWTVIWIRXEGMSRIWWIERI\MXSWEW
)WTIVEQSWUYIHMWJVYXIIWXI1HYPSXEPGSQSRSWSXVSWPSLMGMQSWEPVIHEGXEVPS]UYIPIWIEHIYXMPMHEHIRIPHIWIQTISHIWYWXEVIEWGSXMHMEREW
0IHIWIEQSW\MXSIRIWXIETVIRHM^ENIUYIIWXGSQIR^ERHS
1MGVSWSJX4S[IV4SMRX
1IXSHSPSKE HI 8VEFENS
0IWTVIWIRXEQSWPE1IXSHSPSKEHI8VEFENSHIIWXI1HYPSGSRIPJMRHISVMIRXEVPSWIRWYGSVVIGXSYWS]ETVSZIGLEQMIRXS
)WMQTSVXERXIGSQIR^EVTSVPEWMQFSPSKEUYIIRGSRXVEVRIRPEWTV\MQEWTKMREW
%8)2'-2
(IWEVVSPPEYREEGPEVEGMRHIMQTSVXERGMEEGIVGEHIPXIQE
79+)6)2'-%
4PERXIESXVEWJSVQEWHIETPMGEVPEWLIVVEQMIRXEW
%'8-:-(%(
-RHMGEPEW4VGXMGEWEVIEPM^EVIRGEWSHIXIRIVMRWXEPEHSIP7SJX[EVI)HYGEXMZS
869'3
7YKMIVIEPXIVREXMZEWTEVELEGIVQWHMRQMGEPEETPMGEGMRHIPEWLIVVEQMIRXEW
%PJMREPM^EVGEHE'ETXYPSIRGSRXVEVR
R 4VGXMGEW%HMGMSREPIWUYIPIWTIVQMXMVRVITEWEVPEWLIVVEQMIRXEWETVIRHMHEWIREGXMZMHEHIWGSRGVIXEWIMRXIKVEHSVEW
R 9RVITEWSHIGSRGITXSW8IVMGSWTEVEZIVMJMGEVPEGSQTVIWMR]EHUYMWMGMRHIPSWGSRGITXSWQWMQTSVXERXIW
%PJMREPM^EVIP1HYPSIRGSRXVEVRYRE%YXSIZEPYEGMR1PXMTPI'LMSGI1PXMTPIW3TGMSRIWUYIPIWIVZMVGSQSTVITEVEGMRTEVEIP)\EQIR
1MGVSWSJX4S[IV4SMRX
1MGVSWSJX4S[IV4SMRX-RKVIWEVE4S[IV4SMRX4EVXIWHIPEZIRXERE'QSHIWTPE^EVWITSVYRE
ZIRXERE#
'ETXYPS
%PXVQMRSHIIWXIGETXYPSIWTIVEQSWUYIPSKVIRPSWWMKYMIRXIWSFNIXMZSW
R 'SRSGIV PEYXMPMHEHHIPTVSKVEQEHIKVJMGSWHITVIWIRXEGMR] WYWGEVEGXIVWXMGEW
TVMRGMTEPIWR 'SRSGIVPEWTEVXIWHIPEZIRXEREHI4S[IV4SMRX=GQSHIWTPE^EVWITSVPEQMWQER %TVIRHIVEGVIEVYRETVIWIRXEGMRGSRHMETSWMXMZEWYXMPM^ERHSHMWXMRXEWSTGMSRIW
R %TVIRHIVEKYEVHEV]EFVMVTVIWIRXEGMSRIW]XVEFENEVGSRIPPEWIRHMWXMRXEWZMWXEWR 1SHMJMGEVPEWZMWXEWHIPEWHMETSWMXMZEWHIPETVIWIRXEGMRGSQTVIRHIVTEVEUYWIYXMPM^EGEHEYRE]GYPIWWSRWYWHMJIVIRGMEWTVMRGMTEPIW
R %WMQMPEVPSWGSRGITXSWHIPSWXIQEWUYIXVEXEIWXIGETXYPS]VIEPM^EVPEWEGXMZMHEHIW
TEVEPEMRXIKVEGMRHIGSRSGMQMIRXSW
3VKERM^EGMRHI'SRXIRMHSW
'ETXYPSW 8IQEWHI%TVIRHM^ENI 'SRXIRMHSW1RMQSW
-RXVSHYGGMR
'ETXYPS+YEVHEV]EFVMVTVIWIRXEGMSRIW
+YEVHEVYRETVIWIRXEGMR%GXYEPM^EVEVGLMZSW'IVVEVEVGLMZSW%FVMVHSGYQIRXSW4VIWIRXEGMSRIW
:MWXEW
:MWXEWHI4S[IV4SMRX:MWXE2SVQEP:MWXEW'PEWMJMGEHSVHIHMETSWMXMZEW:MWXE4VIWIRXEGMR
GSRHMETSWMXMZEW
1MGVSWSJX4S[IV4SMRX
-RXVSHYGGMR
1MGVSWSJX4S[IV4SMRX
1MGVSWSJX4S[IV4SMRXIWYRTVSKVEQETEVEVIEPM^EVTVIWIRXEGMSRIWKVJMGEW7IYXMPM^ETEVEGVIEV]I\LMFMVTVIWIRXEGMSRIWIRFEWIEHMETSWMXMZEW]XVERWTEVIRGMEWTEVEPEI\TSWMGMRHITVS]IGXSW ERXI YRE EYHMIRGME TPERMJMGEGMSRIW HI XVEFENSW )RWIER^E E XVEZW HIWIQMREVMSWHI'ETEGMXEGMR6IYRMSRIWHI)UYMTSWHIXVEFENS'SQYRMGEGMRHI2SXMGMEW8VEFENSGSR4VSZIIHSVIW:IRXEWIXG
4S[IV4SMRXTYIHIGVIEV
y 8VERWTEVIRGMEW HMETSWMXMZEWIR QMPQIXVSW ] TVIWIRXEGMSRIW IR TERXEPPE GSRIJIGXSWUYIVIEP^ERIPGSRXIRMHSHIPEWQMWQEW y 2SXEW HI TKMRE IWUYIQEW ] HSGYQIRXSW TEVE GSQTPIXEV ] IRVMUYIGIV PEWTVIWIRXEGMSRIWy4VIWIRXEGMSRIWVTMHEWQIHMERXIPEYXMPM^EGMRHIPSWEWMWXIRXIWHIETEVMIRGMEHMWISWEYXQEXMGSWGSQFMREGMRHIGSPSVIW
%8)2'-2 0SW EVGLMZSW UYI GVII IR IWXI TVSKVEQE VIGMFMVR IPRSQFVI HI 4VIWIRXEGMSRIW IWXEW WSRYRE WIGYIRGMESVHIREHEHIHMETSWMXMZEW UYI PI TIVQMXMVR I\TSRIV HIQERIVE WMRXXMGE ]IWXVYGXYVEHEPSWTYRXSWTVMRGMTEPIWYSFNIXMZSWHIYRHIXIVQMREHSTVS]IGXS'EHETVIWIRXEGMRIWXEVJSVQEHETSVZEVMEWHMETSWMXMZEW,SNEWIRPEWUYIHIFIVMRKVIWEVXSHEPEMRJSVQEGMRRIGIWEVME
)PIQIRXSWHIYRETVIWIRXEGMR
(METSWMXMZEW7SRTERXEPPEWUYIWITVS]IGXERYREXVEWSXVEIRTERXEPPE]UYIGSRWXMXY]IRIPIPIQIRXSFWMGSHIYRETVIWIRXEGMR'EHEHMETSWMXMZETYIHIGSRXIRIVXI\XSWKVJMGSWHMFYNSWMQKIRIWTVIHMWIEHEWERMQEGMSRIWWSRMHSWIRXVISXVEW
(SGYQIRXSW7SRPEWQMRMEXYVEWMQTVIWEWHIPEWHMETSWMXMZEW]WITYIHIRMQTVMQMVHIHSWXVIWWIMWTSVTKMRE
)WUYIQEW7PSQYIWXVERPSWXXYPSW]IPXI\XSIWGVMXSIRPEHMETSWMXMZETIVSRSWITSHVRZMWYEPM^EVPSWIPIQIRXSWKVJMGSWRMIPXI\XSIWGVMXSGSRPELIVVEQMIRXEHIXI\XS
1MGVSWSJX4S[IV4SMRX
)\MWXIRZEVMEWJSVQEWHIINIGYXEVSMRMGMEV1MGVSWSJX4S[IV4SMRXTIVSPEQWYXMPM^EHEIWHIWHIIPQIR-RMGMSTEVEPSGYEPHIFIWIKYMVPSWWMKYMIRXIWTEWSW
(IWHIPEFEVVEHIXEVIEWLEKEGPMGIRIP&SXR-RMGMS8SHSWPSW4VSKVEQEW1MGVSWSJX4S[IV4SMRX
-RKVIWEVE4S[IV4SMRX
%8)2'-2(ITIRHMIRHSHI PE MRWXEPEGMRHIPTVSKVEQEIWTSWMFPIIRGSRXVEVIREPKYREWGSQTYXEHSVEWUYIWILE]EGVIEHSYRGSRSHIKVYTSTEVE PSWTVSKVEQEWHIPTEUYIXI3JJMGIIRGSRXVERHSIP GSRSHI1MGVSWSJX4S[IV4SMRXHIRXVSHIYR WYFQIRGSQSWISFWIVZEIRPEWMKYMIRXIMQEKIR
)RGEWSHIUYIIPTVSKVEQEWIEYXMPM^EHSGSRQYGLEJVIGYIRGMETYIHI
'VIEV YR EGGIWS HMVIGXS TEVE1MGVSWSJX 4S[IV4SMRX TEVE UYI TYIHE EGGIHIVHMVIGXEQIRXIEPTVSKVEQEHIWHIIPIWGVMXSVMS3YXMPM^EVPEFEVVEHILIVVEQMIRXEWHI3JJMGILEGMIRHSGPMGIRIPGSRSHI4S[IV4SMRXIMRKVIWEVEPTVSKVEQEIRJSVQEVTMHE
79+)6)2'-%
1MGVSWSJX4S[IV4SMRX
4EVXIWHIPEZIRXEREHI4S[IV4SMRX
'SQSIRIPVIWXSHIPSWTVSKVEQEWIR4S[IV4SMRXIRGSRXVEVHSWZIRXEREWYRETEVEPEETPMGEGMR]SXVETEVEPETVIWIRXEGMR
&EVVEHI1IR7MXYEHEIRPETEVXIWYTIVMSVHIPETERXEPPE'SRXMIRIPSWGSQERHSWUYI4S[IV4SMRXTSRIEWYWIVZMZMSIRJSVQEHIPMWXEWHIWTPIKEFPIW
&EVVEHI,IVVEQMIRXEW0EWFEVVEWHILIVVEQMIRXEWGSR PEWUYIZEE XVEFENEV IWXRGSQTYIWXEWTSVYREWIVMIHIFSXSRIWWMXYEHSWFENSPEFEVVEHIQIRIRPETEVXIWYTIVMSVHIPETERXEPPE
'VIEYRE RYIZETVIWIRXEGMRHIHMETSWMXMZEW
%FVIYRETVIWIRXEGMR HIHMETSWMXMZEW I\MWXIRXI
+YEVHEIRHMWGS PETVIWIRXEGMRGSRPEGYEPIWXXVEFENERHS
%GXMZEIP4ERIPHIXEVIEW&WUYIHE&WMGE
-QTVMQI PEW HMETSWMXMZEW HI PE TVIWIRXEGMR
&EVVEHI8XYPS
&EVVEHI1IR&EVVEHI
,IVVEQMIRXEW
4ERIP HI IWUYIQEW
&SXSRIWHI :MWXEW 4ERIP HI(METSWMXMZEW 4ERIP HI XEVIEW
:IRXERE
HI
%TPMGEGMR
:IRXEREHIPE
TVIWIRXEGMR
1MGVSWSJX4S[IV4SMRX
5YMXEIPSFNIXSWIPIGGMSREHS]PSIRZEEPTSVXETETIPIW
)RZEYRE GSTMEHIPSFNIXSWIPIGGMSREHSEPTSVXETETIPIW
'SPSGEIR PE HMETSWMXMZEIPGSRXIRMHSHIP TSVXETETIPIW
'STME JSVQEXSW
(IWLEGI PE PXMQE STIVEGMR
6ILEGI PE PXMQE STIVEGMRHIWLIGLE
-RWIVXEYRKVJMGS
-RWIVXE XEFPEW
%GXMZEPEFEVVEHI8EFPEW]FSVHIW
)RPEZMWXE'PEWMJMGEHSVHIPEWHMETSWMXMZEWEGXMZESHIWEGXMZEPSWJSVQEXSW HI PEW HMETSWMXMZEW
1YIWXVEYSGYPXEYREGYEHVGYPEUYIWMVZITEVESVKERM^EVPSWHEXSWHIPEHMETSWMXMZE
%YQIRXESHMWQMRY]IPEZMWXEHIPEWHMETSWMXMZEW
1YIWXVEYRE PMWXE HIWTPIKEFPIIR PEGYEPTSHVWIPIGGMSREV PEZMWXEHIGSPSVIWTEVE
PEW HMETSWMXMZEW
&EVVEHI)WXEHS)R PETEVXI MRJIVMSVHI PE:IRXEREHI4S[IV4SMRXIWXEFEVVESJVIGIMRJSVQEGMREGIVGEHIP(SGYQIRXSUYIWIIRGYIRXVIIRTERXEPPE
:IRXEREHI4VIWIRXEGMR7I IRGYIRXVE HMZMHMHE IR XVIW TERIPIWQY] HIWXEGEHSW(METSWMXMZEW )WUYIQEW] RSXEW )WXSWTERIPIW TSVTSVGMSRERYREZMWXEKPSFEPHI PETVIWIRXEGMR]PITIVQMXIRXVEFENEVHIWHIHMJIVIRXIWTYRXSWHIZMWXE
4ERIPHIHMETSWMXMZEW7IIRGYIRXVEIRIPWIGXSVGIRXVEPHIPE:IRXERE]TIVQMXIZMWYEPM^EV
]QSHMJMGEVIPEWTIGXSHIPEWHMETSWMXMZEW
4ERIPHIIWUYIQEW7IIRGYIRXVEIRIPWIGXSVM^UYMIVHSHIPE:IRXERE]WIYXMPM^ETEVE
SVKERM^EV]HIWEVVSPPEVIPGSRXIRMHSHIPETVIWIRXEGMRPSWXXYPSW]GSRXIRMHSWIWGVMXSW
4ERIPHI2SXEW7IIRGYIRXVEIRIPWIGXSVMRJIVMSVHIVIGLSHIPE:IRXERE]WIYXMPM^ETEVE
EKVIKEVRSXEWTEVEIPSVEHSVSTEVEGSQTEVXMVGSRPEEYHMIRGMEUYIRSTSHVZIVWIIRPETVIWIRXEGMRERMQEHEWMRSIRPEMQTVIWMR
1MGVSWSJX4S[IV4SMRX
0I TIVQMXI GVIEV YRETVIWIRXEGMR IR FPERGS GSRIP JMR HIUYIEPJMREPM^EV WYIPEFSVEGMRIP VIWYPXEHS WIE XSXEPQIRXITIVWSREPM^EHS
0IV TIVQMXI EFVMV TVIWIRXEGMSRIWI\MWXIRXIW
7I YXMPM^E TEVE GVIEV YRE TVIWIRXEGMR FEWEHE IR YRE TPERXMPPETVIHMWIEHE'SRIWXESTGMR4S[IV4SMRX PIQSWXVEVYRETVIWIRXEGMRGSRPSWGSPSVIWHIPEHMETSWMXMZE]IPIWXMPSHIPXI\XS]EHIJMRMHSWHITIRHMIRHS HI PE TPERXMPPE WIPIGGMSREHE
'SR IWXE STGMRIRGSRXVEVYREWMWXIRXI HIEYXSGSRXIRMHSW UYI PIWYKMIVIIPXXYPSHIPETVIWIRXEGMR]YREI\TPMGEGMRHIPXIQEEXVEXEV8EQFMRPIFVMRHEPETSWMFMPMHEHHIIPIKMVIPXMTS]IWXMPSHITVIWIRXEGMRUYIHIWIEYXMPM^EV9REZI^JMREPM^EHSIPEWMWXIRXI PITVIWIRXEVYRIWUYIQEFWMGSUYI PI WIVZMV GSQSKYEIR PE SVKERM^EGMRHIPSW GSRXIRMHSW
%WMWXIRXITEVEEYXSGSRXIRMHS
)WXIEWMWXIRXIPSE]YHEVEHIWEVVSPPEVIPGSRXIRMHSHIPETVIWIRXEGMRWSFVIYREKVERZEVMIHEHHIXIQEWIQTVIWEVMEPIW]TIVWSREPIW4EVEIPPSHIFIVIEPM^EVPSWWMKYMIRXIWTEWSW
'PMG
%TEVIGIVYRGYEHVSHIHMPSKSIRIPGYEPWIHIXEPPERPSWTEWSWUYIWIKYMVIRIPXVE]IGXSEPEGVIEGMRHIPETVIWIRXEGMR
(IWHIIPTERIPHIXEVIEWLEKEGPMGIRIPFSXR%TEVXMVHIP%WMWXIRXITEVEEYXSGSRXIRMHS
E,EKEGPMGIRIWXIFSXR
1MGVSWSJX4S[IV4SMRX
)RIPWIKYRHSGYEHVSHIFIWIPIGGMSREVIP8MTSHITVIWIRXEGMR7MKEIWXSWTEWSW
)RIWXIGYEHVSWIPIGGMSRIIP)WXMPSHIPETVIWIRXEGMR
%8)2'-27MIQTVIUYIRIGIWMXIPETVIWIRXEGMRTEVEI\TSWMGMRIRGSQTYXEHSVEHIFIIPIKMVIPIWXMPS4VIWIRXEGMRIRTERXEPPE
F,EKEGPMGWSFVIYRSHIPSWFSXSRIWHI PEW GEXIKSVEW
G 0YIKS WIPIGGMSRIYRXMTSHITVIWIRXEGMR
H,EKEGPMGIRIWXIFSXR
I8MPHIYREGEWMPPE
J,EKEGPMGIRIWXIFSXR
1MGVSWSJX4S[IV4SMRX
)RIWXEIXETEHIFIIWGVMFMVYRXXYPSTEVEPETVMQIVEHMETSWMXMZE]EGXMZIPSWIPIQIRXSWUYIHIWIIMRGPYMVIRPEQMWQE
PXMQEIXETE
(IIWXEJSVQESFWIVZEVYRETVIWIRXEGMRGSRZEVMEWHMETSWMXMZEW]YRJSVQEXSTVIHMWIEHSIRPEUYIWPSHIFIVVIIQTPE^EVPSWGSRXIRMHSWHIGEHEYREHIPEWQMWQEW
K)WGVMFEYRXXYPS
L,EKEGPMGIRIWXIFSXR
M,EKEGPMGIRIWXIFSXR
1MGVSWSJX4S[IV4SMRX
'QSHIWTPE^EVWITSVYREZIRXERE#
)R4S[IV4SMRXWITYIHIRYXMPM^EVXVIWQXSHSWHIHIWTPE^EQMIRXSTSVYREZIRXEREIRJYRGMRHIPEVETMHI^GSRPEUYIHIWIIQSZIVWI
0RIEEPRIE
:IRXEREEZIRXERE
7EPXEVHMVIGXEQIRXIEPTVMRGMTMSJMREPSQMXEHHIPEQMWQE
4EVEIPPSWMKEEPKYRSHIPSWWMKYMIRXIWTVSGIHMIQMIRXSWWIKRWYWRIGIWMHEHIW
3TGMR0RIEEPRIE
3TGMR:IRXEREEZIRXERE
)RPEZMWXE)WUYIQETEVEZIVIPXI\XS WMXYEHS FENS PE ZIRXEREEGXYEPHIFITYPWEVZEVMEWZIGIWPEJPIGLEHIHIWTPE^EQMIRXSLEGMEEFENS'EHEZI^UYIWITYPWIPEJPIGLE HI HIWTPE^EQMIRXS4S[IV4SMRX QSHMJMGEV PETERXEPPETEVEQSWXVEVPIYREPRIEQW
4EVEHIWTPE^EVWIZIRXEREEZIRXERE HIFI TYPWE PSWFSXSRIWWMXYEHSWHIFENSHIPEFEVVEHIHIWTPE^EQMIRXS
3TGMR8IGPEHS
3XVEQERIVEHILEGIVPSIWTYPWERHSPEWXIGPEW
6IEPMGIPEEGXMZMHEHTEWSETEWSHIWHIIP%WMWXIRXI2);7%4-)27UYIWIYFMGEIRIP'ETXYPS8IQE-RXVSHYGGMR7YFXIQE(IWTPE^EQMIRXSWTSVPE:IRXERE
&EVVEHI HIWTPE^EQMIRXS
(METSWMXMZEWMKYMIRXI
(METSWMXMZEERXIVMSV
1MGVSWSJX4S[IV4SMRX
+YEVHEV]%FVMV4VIWIRXEGMSRIW
+YEVHEVYRETVIWIRXEGMR
4EVEEPQEGIREVWYWXVEFENSWHIFIVVIGYVVMVEPGYEHVSHIHMPSKS+YEVHEVGSQS4EVEMRKVIWEVEHMGLSGYEHVSWMKEIWXSWTEWSW
(IWHIIPQIR%VGLMZSLEKEGPMGIR+YEVHEVGSQS%TEVIGIVIWXIGYEHVS
,EKEGPMGIRIPFSXR
3TGMRHIWHIPE&EVVEHILIVVEQMIRXEW)WXRHEV
,EKEGPMGIR%VGLMZS+YEVHEV
3TGMRHIWHIPE&EVVEHIQIR
4VIWMSRIPEWXIGPEW]
3TGMRHIWHIIP8IGPEHS
%GXYEPM^EVEVGLMZSW
4EVEEGXYEPM^EVYREVGLMZSWMKEIWXSWTEWSW
(IWHI PE PMWXE HIWTPIKEFPI WIPIGGMSRI PE YFMGEGMRHIP EVGLMZS
)WGVMFEYRRSQFVITEVEIPEVGLMZS ,EKEGPMGIRIWXIFSXR
+YEVHEV
1MGVSWSJX4S[IV4SMRX
6IEPMGIPEEGXMZMHEHTEWSETEWSHIWHIIP2I[7ETMIRWUYIWIYFMGEIRIP'ETXYPS8IQE+YEVHEV]%FVMVTVIWIRXEGMSRIW7YFXIQE+YEVHEVYRE
4VIWIRXEGMRTSVINIQTPS
'IVVEVEVGLMZSW
4EVEGIVVEVYREVGLMZS4VIWIRXEGMRHI4S[IV4SMRXYXMPMGIGYEPUYMIVEHIPEWWMKYMIRXIWSTGMSRIW
3TGMRHIWHIPE&EVVEHIQIR
,EKEGPMGIR%VGLMZS'IVVEV
3TGMRHIWHIPSW&SXSRIWHIGSRXVSP
,EKEGPMGIRIWXIFSXR
%FVMVHSGYQIRXSW4VIWIRXEGMSRIW
4EVEEFVMVYRETVIWIRXEGMRERXIWKYEVHEHSWMKEIWXSWTEWSW
4YIHIYXMPM^EVGYEPUYMIVEHIPEWWMKYMIRXIWSTGMSRIW
3TGMRHIWHIPE&EVVEHIQIR
,EKEGPMGIR%VGLMZS%FVMV
3TGMRHIWHIPE&EVVEHILIVVEQMIRXEW
,EKEGPMGIRIWXIFSXR
3TGMRHIWHIIP8IGPEHS
4VIWMSRIPEWXIGPEW
%FVMV
1MGVSWSJX4S[IV4SMRX
79+)6)2'-%
0EWHMETSWMXMZEWWITYIHIRKYEVHEVGSQSYREMQEKIRIRGEWSHIUYIVIVYXMPM^EVPEWGSR SXVSWTVSKVEQEW4EVEIPPS HIFIV ZMWYEPM^EV S WIPIGGMSREV IR TERXEPPE PEHMETSWMXMZEUYIHIWIIEPQEGIREV]VIEPM^EVYRGPMGIRIPFSXR+YEVHEV
%PMKYEPUYIIRIPQIR+YEVHEVIRIPGYEHVS+YEVHEVGSQSXMTSWIPIGGMSRI*SVQEXSHIMRXIVGEQFMSHIEVGLMZSW.4)+]PYIKSEGSRXMRYEGMRHIFIVLEGIVYRGPMGIRIPFSXR+YEVHEVUYIWIIRGYIRXVEIRIPWIGXSVMRJIVMSVHIVIGLSHIHMGLSGYEHVS
6IEPMGIPEEGXMZMHEHTEWSETEWSHIWHIIP2I[7ETMIRWUYIWIYFMGEIRIP'ETXYPS8IQE+YEVHEV]%FVMVTVIWIRXEGMSRIW7YFXIQE%FVMV4VIWIRXEGMSRIW
TSVINIQTPS
%8)2'-24S[IV4SMRXKYEVHEEYXSQXMGEQIRXI PEWTVIWIRXEGMSRIWTEVETSHIV VIGYTIVEVPEWIRGEWSUYI WITVSHY^GEEPKR JEPPSIR PEEPMQIRXEGMRIPGXVSRMGEHIPEGSQTYXEHSVE
(IWHI PE PMWXEHIWTPIKEFPIWIPIGGMSRI PE YFMGEGMRHIPEVGLMZSEEFVMV
,EKEGPMGWSFVIIPEVGLMZSUYIHIWIEEFVMV ,EKEGPMGIRIWXIFSXR
1MGVSWSJX4S[IV4SMRX
4EVEGSRJMKYVEVIWXELIVVEQMIRXEHIFILEGIVGPMGIRIPQIR,IVVEQMIRXEW3TGMSRIW]WIPIGGMSREVPEJMGLE+YEVHEVPYIKSIWXEFPI^GEGEHEGYRXSWQMRYXSWHIFIR XVERWGYVVMV TEVEUYI WIINIGYXIIWXELIVVEQMIRXE HIWHI IP GEWMPPIVS +YEVHEV MRJSVQEGMR HI%YXSVVIGYTIVEV
,EKEGPMGIRIWXEWSPETE
8MPHIIWXEGEWMPPE %GITXIIPGYEHVS
1MGVSWSJX4S[IV4SMRX
:MWXEW
:MWXEWHI4S[IV4SMRX
4IVQMXIRZIVPEWHMETSWMXMZEWHIHMJIVIRXIWQERIVEW:MWXE2SVQEP:MWXE'PEWMJMGEHSVHIHMETSWMXMZE]4VIWIRXEGMRGSRHMETSWMXMZEW
3TGMRHIWHIPE&EVVEHIQIR
3TGMRHIWHIIPVIEZMWXEW
:MWXE2SVQEP
0EZMWXE2SVQEPGSRXMIRIXVIWTERIPIW
4ERIPHIIWUYIQEW4ERIPHIHMETSWMXMZEW
4ERIPHIRSXEW
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4VMQIV GPMG
7IKYRHSGPMGWSFVIYREHIIWXEW STGMSRIW
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1MGVSWSJX4S[IV4SMRX
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4ERIPHI2SXEW
4ERIP)WUYIQEW 4ERIP(METSWMXMZEW
1MGVSWSJX4S[IV4SMRX
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2SXEEPTMI 8I\XSHMFYNSWIMQKIRIWIR PERSXEEPRSXE
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0EZMWXE'PEWMJMGEHSVHIHMETSWMXMZEWQYIWXVEXSHEPEWHMETSWMXMZEWHIPETVIWIRXEGMRIRQMRMEXYVEIRPEQMWQETERXEPPEGSQSWMWIXVEXEVEHIYREKEPIVE(IIWXEJSVQEVIWYPXEJGMPEKVIKEVIPMQMREV]QSZIVHMETSWMXMZEWMRGPYMVMRXIVZEPSW]WIPIGGMSREVXVERWMGMSRIWERMQEHEWTEVETEWEVHIYREHMETSWMXMZEESXVE
1MGVSWSJX4S[IV4SMRX
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)R PE WMKYMIRXI MQEKIR TSHV SFWIVZEV YRE HMETSWMXMZE IR PE ZMWXE4VIWIRXEGMR GSRHMETSWMXMZEW
6IEPMGIPEEGXMZMHEHTEWSETEWSHIWHIIP2I[7ETMIRWUYIWIYFMGEIRIP'ETXYPS8IQE:MWXEW7YFXIQE:MWXETKMREHIRSXEW4SVINIQTPS
6IEPMGIPE4VGXMGEPEFSVEPHIWHIIP2I[7ETMIRWUYIWIYFMGEIRIP'ETXYPS8IQE6ITEWS+IRIVEP7YFXIQE4VGXMGE0EFSVEP
)R GYEPUYMIVQSQIRXS HYVERXI PE GVIEGMR HI YRE TVIWIRXEGMR TYIHI MRMGMEV PE4VIWIRXEGMR GSR HMETSWMXMZEW ] SFXIRIV YRE ZMWXE LEGMIRHS GPMG WSFVI IP GSRSGSVVIWTSRHMIRXI
8EQFMR WI YXMPM^E TEVEIRWE]EV SQSWXVEV PE TVIWIRXEGMRTEVE TEWEV E PE TV\MQEHMETSWMXMZEHIFILEGIVGPMGIRGYEPUYMIVPYKEVHIPETVIWIRXEGMRGSRIPFSXRTVMRGMTEPHIPQSYWI7MHIWIEGERGIPEVPEHIQSWXVEGMRHIFITYPWEVPEXIGPE)7'
1MGVSWSJX4S[IV4SMRX
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)RIWXETVMQIVEEGXMZMHEHHIFIVGVIEVYRETVIWIRXEGMRGSRHMETSWMXMZEWUYIHIWGVMFEPEWGEVEGXIVWXMGEWHIPTVSHYGXSTEVEWYTSWXIVMSVZIRXEIRIPQIVGEHSTEVEIPPS
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1MGVSWSJX4S[IV4SMRX
6ITEWSHIPGETXYPS
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2SQFVIPEWTEVXIWHIYREZIRXEREHI4S[IV4SMRX
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1MGVSWSJX4S[IV4SMRX
1MGVSWSJX4S[IV4SMRX
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HMETSWMXMZE
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HMETSWMXMZEFSVVEHE1SZIVHMETSWMXMZEW
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R %TPMGEVYREGSQFMREGMRHIGSPSVIWEPEWHMETSWMXMZEWTEVEQINSVEVIPEWTIGXSHIPEWQMWQEW
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R %WMQMPEVPSWGSRGITXSWHIPSWXIQEWUYIXVEXEIWXIGETXYPS]VIEPM^EVPEWEGXMZMHEHIWTEVEPEMRXIKVEGMRHIGSRSGMQMIRXSW
3VKERM^EGMRHI'SRXIRMHSW
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4VIWIRXEGMRIRFPERGS
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MQEKIR
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3TGMSRIWHI(MFYNS
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1MGVSWSJX4S[IV4SMRX
4VIWIRXEGMRIRFPERGS
4VIWIRXEGMRIRFPERGS
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3TGMRHIWHIPE&EVVEHIQIR
3TGMRHIWHIPE&EVVEHILIVVEQMIRXEW)WXERHEV
,EKEGPMGWSFVIIWXIFSXR
F4ERIPHIXEVIEWE&EVVEHIQIR
3TGMRHIWHIIP8IGPEHS
4VIWMSRIPEWXIGPEW
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9REZI^WIPIGGMSREHSIP EYXSHMWIS HI PEHMETSWMXMZE WITVIWIRXEVR PSWLYIGSW HIGSPSGEGMRIRPEZMWXEHMETSWMXMZEW
9RLYIGSHIGSPSGEGMRIWYRFSVHIUYIHIJMRIIPXEQES]YFMGEGMRHIYRHIXIVQMREHSSFNIXS
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4VMQIV GPMG7IKYRHS GPMG
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1MGVSWSJX4S[IV4SMRX
6IEPMGIPEEGXMZMHEHTEWSETEWSHIWHIIP2I[7ETMIRWUYIWIYFMGEIRIP'ETXYPS8IQE4VIWIRXEGMRIRFPERGS7YFXIQE'VIEVYRETVIWIRXEGMRIR
FPERGS4SVINIQTPS
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-RXVSHYGMVXI\XSIRYREHMETSWMXMZEIRPE:MWXEIWUYIQE
4EVEMRXVSHYGMVXI\XSIRPEZMWXEIWUYIQEHIFIVWMXYEVIPTYRXIVSHIPQSYWIIRIPPYKEVHSRHIHIWIIMRWIVXEVIPXI\XS]PYIKSGSQIR^EVEIWGVMFMV7MWIEKVIKEYREHMETSWMXMZEIRPEZMWXEIWUYIQEWIEKVIKEVYRFSXRHIHMETSWMXMZERYIZEGSRIPRQIVSGSVVIWTSRHMIRXIEPEQMWQE
869'3
7MHIWIE UYI WIQYIWXVI IR PE TERXEPPE PE HMETSWMXMZEEGXMZE IRYRETIUYIE ZIRXEREIWXERHSXVEFENERHSIRPEZMWXEIWUYIQEHIFIVEFVMVIPQIR:IV]WIPIGGMSREVPESTGMR(METSWMXMZEIR1MRMEXYVE%WTSHVSFWIVZEVPEWHMETSWMXMZEWIRQMRMEXYVEQMIRXVEWWMKYIXVEFENERHSGSRGEHEYREHIIPPEWIRPETVIWIRXEGMR
)PMQMREVHMETSWMXMZEW
4EVEIPMQMREVYREHMETSWMXMZEVIEPMGIIPWMKYMIRXITSVGIHMIQMIRXS
9XMPMGIPEWZMWXEW'PEWMJMGEHSVHIHMETSWMXMZEWS2SVQEP
3TGMRHIWHIPEFEVVEHIQIR
E,EKEGPMGIRIWXIQIR
F7IPIGGMSRIYRESTGMR
1MGVSWSJX4S[IV4SMRX
4VIWMSRIPEXIGPE
6IGYTIVEVYREHMETSWMXMZEFSVVEHE
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1SZIVHMETSWMXMZEW
7MHIWIEGEQFMEVPETSWMGMRHIPEWHMETSWMXMZEWXIRKEIRGYIRXEPSWWMKYMIRXIWTYRXSW
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-QEKIRWIPIGGMSREHE
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1MGVSWSJX4S[IV4SMRX
3TGMRHIWHIPEFEVVEHIQIR
E,EKEGPMGIRIWXIQIR
F7IPIGGMSRIYRESTGMR
3TGMRHIWHIPVIEZMWXEW
7IPIGGMSRIPEHMETSWMXMZEUYIHIWIEQSZIV,EKEYRGPMGWSFVIPEHMETSWMXMZE]WMRWSPXEVEVVWXVIPELEWXEPERYIZEYFMGEGMR
1SZMQMIRXSHIPEHMETSWMXMZEHIPWIKYRHS PYKEV EP WITXMQS
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1MGVSWSJX4S[IV4SMRX
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(MWISHIPEWHMETSWMXMZEW
4EVESVKERM^EVPEMRJSVQEGMRHIYREQERIVEQY]WIRGMPPE4S[IV4SMRXGSRXMIRIYREKEPIVEGSREYXSHMWISWTVIIWXEFPIGMHSWTEVETSHIVGSPSGEVPIEGEHEYREHIPEWHMETSWMXMZEW%PWIPIGGMSREVEPKYRSHIIWXSWHMWISWWITVIWIRXEVRIPIQIRXSWHIHMWIS]LYIGSWHIGSPSGEGMRTEVEIPXI\XS]SXVSWSFNIXSW
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(MWISHIXI\XS
(MWISHIXI\XS
(METSWMXMZEHI8XYPS
7PSXXYPS
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8XYPS]XI\XSEHSWGSPYQREW
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8XYPS]SFNIXSW
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8XYPSSFNIXSW]SFNIXS
1MGVSWSJX4S[IV4SMRX
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8XYPSGPMTQYPXMQIHME]XI\XS
8XYPS]SFNIXSW
8XYPSXI\XS]SFNIXSW
8XYPSSFNIXSW]XI\XS
8XYPSXI\XS]SFNIXSW
8XYPSSFNIXSW]XI\XS
8XYPS]XI\XSIRGMQEHIPSWSFNIXSW
8XYPS]SFNIXSWIRGMQEHIPXI\XS
8XYPS]SFNIXSWIRGMQEHIPXI\XS
8XYPS]XI\XSIMQKIRIWTVIHMWIEHEW
8XYPSMQKIRIWTVIHMWIEHEW]XI\XS
8XYPSXI\XS]GPMTQYPXMQIHME
8XYPSXI\XS]KVJMGS
8XYPSKVJMGS]XI\XS
1MGVSWSJX4S[IV4SMRX
7IPIGGMRHIXI\XSWIRPEZMWXEIWUYIQEW
4EVEWIPIGGMSREVXI\XSHIFIVVIEPM^EVPSWWMKYMIRXIWTEWSW
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'SPSUYIIPTYRXIVSHIPQSYWIEP'SQMIR^SHIPXI\XSUYIHIWIEWIPIGGMSREV
8XYPS]KVJMGS
8XYPS]XEFPE
8XYPS]HMEKVEQEYSVKERMKVEQE
4YRXIVSHIPQSYWI
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7IPIGGMR 3TIVEGMR
9RETEPEFVE
9RTVVEJS
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6IEPMGIXVMTPIGPMGIRGYEPUYMIVTYRXSHIPTVVEJS
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9RGEVEGXIVEPEM^UYMIVHEHIPTYRXSHIMRWIVGMR
4YPWIPEWXIGPEW
9RGEVEGXIVEPEHIVIGLEHIPTYRXSHIMRWIVGMR
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4YPWIPEWXIGPEW
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8I\XSWIPIGGMSREHS
1MGVSWSJX4S[IV4SMRX
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1MGVSWSJX4S[IV4SMRX1MGVSWSJX4S[IV4SMRX
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)WXELIVVEQMIRXEWIPIGGMSREYRSSQWSFNIXSWEPEZI^7IPIGGMSREVSFNIXSW
(MFYNS
1MGVSWSJX4S[IV4SMRX
36()2%6
4VMQIV SFNIXSHMFYNEHS
8IVGIV SFNIXSHMFYNEHS
&SXR(MFYNS3VHIREV
7IKYRHS SFNIXSHMFYNEHS
3TGMR+MVEVSZSPXIEV
7IPIGGMSRI GSRYRGPMGIPSFNIXSUYIHIWIEKMVEV
7IPIGGMSRI PE LIVVEQMIRXE+MVEVPMFVIQIRXIHIWHIIPFSXR(MFYNS+MVEVS
ZSPXIEV:IV GYEXVSQERINEHSVIWZIVHIWEPVIHIHSVHIPE
MQEKIR
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6IWYPXEHS
7IPIGGMSRI IPSFNIXS9XMPMGI PE LIVVEQMIRXE UYI HIWIITEVE ZSPXIEV IP SFNIXS
3VMKMREP
3VMKMREP
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:SPXIEVLSVM^SRXEPQIRXI :SPXIEVZIVXMGEPQIRXI
1MGVSWSJX4S[IV4SMRX
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7IPIGGMSRI PSW SFNIXSWUYIHIWIE EKVYTEV4EVEIPPS
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7IPIGGMSRI PE LIVVEQMIRXE%KVYTEVHIWHIIPFSXR(MFYNSUYIWIYFMGEIRPEFEVVEHIHMFYNS 3FWIVZI PSW
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7IPIGGMSRIIPSFNIXSEKVYTEHS 0YIKS WIPIGGMSRI PELIVVEQMIRXE(IWEKVYTEVUYI WIYFMGEIRIPFSXR(MFYNSHIPE
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1SZMQMIRXS
1MGVSWSJX4S[IV4SMRX
7IPIGGMSREVSFNIXSW
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0RIEWIPIGGMSREHE
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8VERWJSVQEGMRHIPTYRXIVSHYVERXIPEGVIEGMRHIPEPRIE
7IPIGGMSREVSFNIXSW
0RIE
1MGVSWSJX4S[IV4SMRX
6IEPMGIPEEGXMZMHEHTEWSETEWSHIWHIIP2I[7ETMIRWUYIWIYFMGEIRIP'ETXYPS8IQE3TGMSRIWHI(MFYNS7YFXIQE+VYTS4SVINIQTPS
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(MFYNEJPIGLEWWYYWSIWIPQMWQSUYITEVEPELIVVEQMIRXEPRIE
(MFYNEVIGXRGYPSW]GYEHVEHSW
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)PMTWI
6IGXRKYPS
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0EFEVVEHIHMFYNSPISJVIGIYRGEQMRSEPXIVREXMZSTEVEMRWIVXEVPSWXI\XSWIWTIGMEPIW
)WXELIVVEQMIRXEPITIVQMXIGVIEVYRVIEHIRXVSHIPGYEPTSHVIWGVMFMV)PYWSHIIWXELIVVEQMIRXEIWI\EGXEQIRXIMKYEPUYIPE
LIVVEQEQMIRXE6IGXRKYPSTIVSEPXIVQMREVHIGVIEVIPVIGXRKYPSEPWSPXEVIPQSYWIIPGYVWSVETEVIGIVHIRXVSHIPVIETEVEGSQIR^EVE
IWGVMFMV
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1MGVSWSJX4S[IV4SMRX
6IEPMGIPEEGXMZMHEHTEWSETEWSHIWHIIP2I[7ETMIRWUYIWIYFMGEIRIP'ETXYPS8IQE3TGMSRIWHI(MFYNS7YFXIQE+VYTS4SVINIQTPS
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&EVVEHILIVVEQMIRXEW3VKERMKVEQE
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3VKERM^EPSWRMZIPIWLEGMEPEHIVIGLEM^UYMIVHESLEGMEEFENS%HIQWENYWXEIPGSRXIRMHSHIPSVKERMKVEQEVIWTIGXSEPELSNE
7IPIGGMSREEYXSQXMGEQIRXIIPRMZIPUYIHIWII
1MGVSWSJX4S[IV4SMRX
6IWYPXEHS
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1MGVSWSJX4S[IV4SMRX
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TXS TXS
TXS 1WPRIEW
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SXVEWJMKYVEW
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E7IPIGGMSRIIPSFNIXSUYIXIRHVIWXIXMTSHIIWXMPSF7IPIGGMSRIPELIVVEQMIRXE)WXMPSHIJPIGLEHIWHIPEFEVVEHIHMFYNSG%TEVIGIVYREPMWXEGSRHMJIVIRXIWTYRXEWHIJPIGLEWTEVEETPMGEV TSV INIQTPS
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1MGVSWSJX4S[IV4SMRX
7SQFVEIWXMPS
7SQFVEIWXMPS
7SQFVEIWXMPS
7SQFVEIWXMPS
7SQFVEIWXMPS
7SQFVEIWXMPS
7SQFVEIWXMPS
7SQFVEIWXMPS
7SQFVEIWXMPS
7SQFVEIWXMPS
7SQFVEIWXMPS
7SQFVEIWXMPS
7SQFVEIWXMPS
7SQFVEIWXMPS
7SQFVEIWXMPS
7SQFVEIWXMPS
7SQFVEIWXMPS
7SQFVEIWXMPS
7SQFVEIWXMPS
7SQFVEIWXMPS
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1MGVSWSJX4S[IV4SMRX
3TGMRHIWHIPE&EVVEHI,IVVEQMIRXEW8EFPEW]FSVHIW
)RGEWSHIUYIPEFEVVEHILIVVEQMIRXEWHI8EFPEW]FSVHIWRSWIIRGYIRXVIEGXMZELEKEGPMGIR:IV&EVVEWHILIVVEQMIRXEW8EFPEW]FSVHIW%TEVIGIVIWXEFEVVE
(IWHIPEFEVVEHILIVVEQMIRXEW8EFPEW]FSVHIWLEKEGPMGWSFVIIWXIFSXR
'YERHSIPTYRXIVSHIPQSYWIWIXVERWJSVQIIRPTM^YFMUYIIPTYRXIVSWSFVIIPQEVKIRM^UYMIVHS]WMRWSPXEVEVVEWXVILEGMEPEHIVIGLE]LEGMEEFENSLEWXEGVIEVYRVIGXRKYPS
,EGMEPEM^UYMIVHE
,EGMEPEEFENS8VERWJSVQEGMR4YRXIVSHIPQSYWI
%8)2'-28IRKEIRGYIRXEUYIYREZI^MRWIVXEHEPEXEFPEXIRHVwQERINEHSVIWIWTIGMEPIWxUYIPITIVQMXMVRQSZIVSGEQFMEVIP
XEQESHIPEXEFPE
1ERINEHSVHIQSZMQMIRXS
4EVEYXMPM^EVIWXIQERINEHSV 9FMUYI IP TYRXIVS HIPQSYWI WSFVIP,EKEGPMG]WMRWSPXEVEVVEWXVI PE XEFPELEWXE PEYFMGEGMRHIWIEHE
1ERINEHSVHIXEQES
4EVEYXMPM^EVIWXIQERINEHSV9FMUYIIPTYRXIVSHIPQSYWIWSFVIP,EKEGPMG]WMRWSPXEVEVVEWXVILEGMEEHIRXVSHIPEXEFPETEVEEGLMGEV]LEGMEJYIVETEVEEKVERHEV
1ERINEHSVIWHIYREXEFPE
-RWIVXEVXEFPE
1MGVSWSJX4S[IV4SMRX
7IPIGGMRHIJMPE
4EVEWIPIGGMSREVYREJMPEWMKEIWXSWTEWSW
'SPSUYIIPTYRXIVSHIPQSYWIEPGSQMIR^SHIPEJMPE 'YERHS IP TYRXIVS HIPQSYWIWI XVERWJSVQILEKEGPMG ] WMR WSPXEV EVVEWXVI LEWXEWIPIGGMSREVPEJMPE
7IPIGGMRHIGIPHEWJMPEW]GSPYQREW
7IPIGGMRHIGSPYQRE
4EVEWIPIGGMSREVYREGSPYQREWMKEIWXSWTEWSW
'SPSUYIIPTYRXIVSHIPQSYWIWSFVIIPGSQMIR^SHIPEGSPYQRE'YERHSIPTYRXIVSHIPQSYWIWIXVERWJSVQILEKEYRGPMG]WMRWSPXEVEVVEWXVILEWXEWIPIGGMSREVXSHEPEGSPYQRE
4YRXIVSHIP
QSYWI*MPE
WIPIGGMSREHE
4YRXIVSHIPQSYWI
'SPYQREWIPIGGMSREHE
7IPIGGMRHIGIPHE
4EVEWIPIGGMSREVYREGIPHEWMKEIWXSWTEWSW
'SPSUYIIPTYRXIVSHIPQSYWIIRZVXMGIMRJIVMSVM^UYMIVHS,EKEYRGPMGLEWXEZIVIPGYVWSVXMXMPERHS
1MGVSWSJX4S[IV4SMRX
-RKVIWEVHEXSWIRYREXEFPE
4EVEMRWIVXEVXI\XSHIRXVSHIYREXEFPEWMKEIWXSWTEWSW
'SPSUYIIPTYRXSHIMRWIVGMRIPGYVWSVIRPETVMQIVEGIPHEHIIWXEQERIVETYIHIGSQIR^EVEIWGVMFMV
%8)2'-2)RGEWSHIUYIHIWIITEWEVEPEWMKYMIRXIGIPHE9XMPMGIGYEPUYMIVEHIPEWWMKYMIRXISTGMSRIW
'YVWSVTYRXSHI MRWIVGMR
'SQMIR^SHIPXI\XS
(IWHIIPXIGPEHS
3TGMR
3TGMR
4VIWMSRIPEXIGPE
9XMPMGIPEWXIGPEWHIHIWTPE^EQMIRXS
4YRXIVSHIP
QSYWI*MPE
WIPIGGMSREHE
2SQF
-RWIVXEV*MPEW
4EVEMRWIVXEVJMPEWHIFIVIEPM^EVIPWMKYMIRXITVSGIHMQMIRXS
1MGVSWSJX4S[IV4SMRX
3TGMRHIWHIPE&EVVEHI8EFPEW]FSVHIW
,EKEGPMGWSFVIYREHIPEWJMPEW(IWHIPEFEVVEHILIVVEQMIRXEW8EFPEW]&SVHIWLEKEGPMGWSFVIIPWMKYMIRXIFSXR
%PLEGIVYRGPMGWSFVIIPFSXR8EFPEETEVIGIVYREPMWXEHIWTPIKEFPIIRPEGYEPTSHVIPIKMVPEWWMKYMIRXIWSTGMSRIW
3TGMRHIWHIIP8IGPEHS
,EKEGPMGWSFVIPEPXMQEGIPHEHIPEPXMQEJMPE4VIWMSRIPEWMKYMIRXIXIGPE
S
3TGMRYXMPM^ERHSIP1IR'SRXI\XYEP
7IPIGGMSRIYRJMPE9XMPM^ERHSIPQIRGSRXI\XYEPWIPIGGMSRI-RWIVXEVJMPEW
6EPMGIYRGPMGIREPKYREHIPEWWMKYMIRXIWSTGMSRIW
TEVEMRWIVXEVYREJMPE
1IRGSRXI\XYEP
E9RGPMGGSRIPFSXSRHIVIGLSWSFVIYREJMPE
3FWIVZIIPGYVWSVXMXMPERHS
F,EKEGPMGWSFVIIWXESTGMR
1MGVSWSJX4S[IV4SMRX
-RWIVXEVGSPYQREW
4EVEMRWIVXEVGSPYQREWHIFIVIEPM^EVIPWMKYMIRXITVSGIHMQMIRXS
3TGMRHIWHIPE&EVVEHI8EFPEW]FSVHIW
,EKEGPMGWSFVIYREHIPEWGSPYQREW(IWHIPEFEVVEHILIVVEQMIRXEW8EFPEW]&SVHIWLEKEGPMGWSFVIIPWMKYMIRXIFSXR
%PLEGIVYRGPMGWSFVIIPFSXR8EFPEETEVIGIVYREPMWXEHIWTPIKEFPIIRPEGYEPTSHVIPIKMVPEWWMKYMIRXIWSTGMSRIW
3TGMRHIWHIIP1IRGSRXI\XYEP
7IPIGGMSRIYRGSPYQRE9XMPM^ERHSIPQIRGSRXI\XYEPWIPIGGMSRI-RWIVXEVGSPYQREW
6EPMGIYRGPMGIREPKYREHIPEWWMKYMIRXIWSTGMSRIWTEVEMRWIVXEVYREGSPYQRE
1IRGSRXI\XYEP
E'SPYQREWIPIGGMSREHE
F,EKEGPMGWSFVIIWXESTGMR
1MGVSWSJX4S[IV4SMRX
)PMQMREV*MPEW]'SPYQREW
)PMQMREV*MPEW
4EVEIPMQMREVJMPEWHIFIVIEPM^EVIPWMKYMIRXITVSGIHMQMIRXS
7IPIGGMSRIPESPEWJMPEWUYIHIWIEIPMQMREV9XMPMGIGYEPUYMIVEHIPEWWMKYMIRXISTGMSRIW
3TGMRHIWHIPE&EVVEHI8EFPEW]FSVHIW
7IPIGGMSRIPEJMPEUYIHIWIEIPMQMREV(IWHIPEFEVVEHILIVVEQMIRXEW8EFPEW]&SVHIWLEKEGPMGWSFVIIPWMKYMIRXIFSXR
%PLEGIVYRGPMGWSFVIIPFSXR8EFPEETEVIGIVYREPMWXEHIWTPIKEFPIIRPEGYEPTSHVIPIKMVPEWMKYMIRXISTGMR
3TGMRHIWHIIP1IR'SRXI\XYEP
7IPIGGMSRIYREJMPE9XMPM^ERHSIPQIRGSRXI\XYEPWIPIGGMSRI)PMQMREVJMPEW
,EKEGPMGIRIWXESTGMR
1IRGSRXI\XYEP
E*MPEWIPIGGMSREHE
F,EKEGPMGWSFVIIWXESTGMR
1MGVSWSJX4S[IV4SMRX
)PMQMREV'SPYQREW
4EVEIPMQMREVGSPYQREWHIFIVIEPM^EVIPWMKYMIRXITVSGIHMQMIRXS
7IPIGGMSRIPESPEWGSPYQREWUYIHIWIEIPMQMREV9XMPMGIGYEPUYMIVEHIPEWWMKYMIRXIWSTGMSRIW
3TGMRHIWHIPE&EVVEHI8EFPEW]FSVHIW
7IPIGGMSRIPEJMPEUYIHIWIEIPMQMREV(IWHIPEFEVVEHILIVVEQMIRXEW8EFPEW]&SVHIWLEKEGPMGWSFVIIPWMKYMIRXIFSXR
%PLEGIVYRGPMGWSFVIIPFSXR8EFPEETEVIGIVYREPMWXEHIWTPIKEFPIIRPEGYEPTSHVIPIKMVPEWWMKYMIRXIWSTGMSRIW
3TGMRHIWHIIP1IR'SRXI\XYEP
7IPIGGMSRIPEGSPYQREEIPMQMREV9XMPM^ERHSIPQIRGSRXI\XYEPWIPIGGMSRI)PMQMREVGSPYQRE
1IRGSRXI\XYEP
E'SPYQREWIPIGGMSREHE
F,EKEGPMGWSFVIIWXESTGMR
,EKEGPMGIRIWXESTGMR
1MGVSWSJX4S[IV4SMRX
'SQFMREV](MZMHMV'IPHEW
'SQFMREVGIPHEW
'SQFMREVYREGIPHEWMKRMJMGEUYIZEVMEWGIPHEWUYIHIRYRMHEWJSVQERHSYREWSPE
4EVEGSQFMREVGIPHEWHIFIVIEPM^EVIPWMKYMIRXITVSGIHMQMIRXS
7IPIGGMSRIPEWGIPHEWUYIHIWIEGSQFMREV
3TGMRHIWHIIP1IR'SRXI\XYEP
9XMPM^ERHSIPQIRGSRXI\XYEPWIPIGGMSRI'SQFMREVGIPHEW
9XMPMGIGYEPUYMIVEHIPEWWMKYMIRXIWSTGMSRIW
'IPHEWWIPIGGMSREHEW
3TGMRHIWHIPE&EVVEHI8EFPEW]FSVHIW
(IWHIPEFEVVEHILIVVEQMIRXEW8EFPEW]&SVHIWLEKEGPMGWSFVIIPWMKYMIRXIFSXR
1IRGSRXI\XYEP
E'IPHEWWIPIGGMSREHE
F,EKEGPMGWSFVIIWXESTGMR
'SQFMREVGIPHEW
1MGVSWSJX4S[IV4SMRX
3TGMRHIWHIPE&EVVEHI8EFPEW]FSVHIW
(IWHIPEFEVVEHILIVVEQMIRXEW8EFPEW]&SVHIWLEKEGPMGWSFVIIPWMKYMIRXIFSXR
%PLEGIVYRGPMGWSFVIIPFSXR8EFPEETEVIGIVYREPMWXEHIWTPIKEFPIIRPEGYEPTSHVIPIKMVPEWMKYMIRXISTGMR
6IWYPXEHS
(MZMHMVGIPHEW
8VERWJSVQEYREGIPHEIRZEVMEWGSPYQREW]SJMPEW
4EVEHMZMHMVGIPHEWHIFIVIEPM^EVIPWMKYMIRXITVSGIHMQMIRXS
7IPIGGMSRIPEWGIPHEWUYIHIWIEHMZMHMV
,EKEGPMGIRIWXESTGMR
1MGVSWSJX4S[IV4SMRX
3TGMRHIWHIPE&EVVEHI8EFPEW]FSVHIW
9XMPMGIGYEPUYMIVEHIPEWWMKYMIRXIWSTGMSRIW
3TGMRHIWHIPE&EVVEHI8EFPEW]FSVHIW
(IWHIPEFEVVEHILIVVEQMIRXEW8EFPEW]&SVHIWLEKEGPMGWSFVIIPWMKYMIRXIFSXR
7IPIGGMSRIPEGIPHEUYIHIWIEHMZMHMV(IWHIPEFEVVEHILIVVEQMIRXEW8EFPEW]&SVHIWLEKEGPMGWSFVIIPWMKYMIRXIFSXR
%PLEGIVYRGPMGWSFVIIPFSXR8EFPEETEVIGIVYREPMWXEHIWTPIKEFPIIRPEGYEPTSHVIPIKMVPEWMKYMIRXISTGMR
6IWYPXEHS
'IPHEWIPIGGMSREHE
1IRGSRXI\XYEP
,EKEGPMGWSFVIIWXESTGMR
(MZMHMVGIPHE
1MGVSWSJX4S[IV4SMRX
%NYWXEVIPEPXS]ERGLSHIJMPEW]GSPYQREW
4YRXIVSHIPQSYWI 4YRXIVS
HIPQSYWIXVERWJSVQEHS
4EVEGEQFMEVIPIWTEGMSIRXVIYREJMPE]SXVESYREGSPYQRE]SXVEWMKEIWXSWTEWSW
9FMUYIIPTYRXIVSHIPQSYWIWSFVIPEYRMRHIYREGSPYQRESJMPE'YERHSIPTYRXIVSHIPQSYWIWIXVERJSVQILEKEGPMG]WMRWSPXEVEVVEWXVILEWXEIRGSRXVEVIPRYIZSERGLSSEPXSHIWIEHSW
6IWYPXEHS
1SHMJMGEVIPJSVQEXSHIYREXEFPE
4EVEQSHMJMGEVIPJSVQEXSHIYREXEFPEXIRKEIRGYIRXEPSWWMKYMIRXIWTEWSW
7IPIGGMSRIPEWGIPHEWUYIHIWIEQSHMJMGEV,EKEGPMGIRIPFSXRHIWHIPEFEVVEHILIVVEQMIRXEWHI8EFPEW]&SVHIWIPMNEPESTGMR&SVHIW]VIPPIRS%TEVIGIVIWXIGYEHVS
)RIWXIGYEHVSIRGSRXVEVXVIWWSPETEWJMGLEWPEWGYEPIWWIVRHIWGVMTXEWEGSRXMRYEGMR
1MGVSWSJX4S[IV4SMRX
6IPPIRS
7IYXMPM^ETEVEWIPIGGMSREVYRGSPSVHIVIPPIRSTEVEPEWGIPHEW4YIHISTXEVTSVYRGSPSVWPMHSSTSVYRIJIGXSHIVIPPIRS
&SVHIW
0ITIVQMXMVIPIKMVIPIWXMPSGSPSV]ERGLSHIPFSVHITEVEPEXEFPE
7SPETE
E7IPIGGMSRIYRXMTSHIFSVHI
F7IPIGGMSRIYRGSPSV
G7IPIGGMSRIIPKVSWSV
TEVEPEPRIE
I%GITXIIPGYEHVS
H7IPIGGMSRIPEWPRIEWUYIWIVRGEQFMEHEWIRPEWIPIGGMR
7SPETE
F%GITXIIPGYEHVS
E(IWHIIWXEPMWXEHIWTPIKEFPI
WIPIGGMSRIYRGSPSVSYRIJIGXSHIVIPPIRS
1MGVSWSJX4S[IV4SMRX
'YEHVSHIXI\XS
0ITIVQMXMVKMVEVIPXI\XSHIPEWGIPHEWWIPIGGMSREHEWQSHMJMGEVPEEPMRIEGMRHIWYWGSRXIRMHSW]GSPSGEVYREWIVMIHIQVKIRIW
F(IXIVQMRIPSWQVKIRIWMRXIVRSWHIPEWGIPHEW
7SPETE
G%GITXIIPGYEHVS
E%PMRIIIPXI\XSGSRVIWTIGXSEPEGIPHEWIPIGGMSREHE
1MGVSWSJX4S[IV4SMRX
-RWIVXEVYRKVJMGS
+VJMGSW
)R PEWHMETSWMXMZEWTYIHI MRWIVXEV+VJMGSWTEVE VITVIWIRXEVHIXIVQMREHE MRJSVQEGMR4S[IV4SMRXYXMPM^EYREETPMGEGMR PPEQEHE1MGVSWSJX+VETL UYI PITIVQMXI VIEPM^EV PSWKVJMGSWWSFVIYRETVIWIRXEGMR
4EVE-RWIVXEVYR+VJMGSHIFIWIKYMVPSWWMKYMIRXIWTEWSW
(IWHIPEFEVVEHIQIRLEKEGPMGIR-RWIVXEV+VJMGS(IIWXEQERIVE4S[IV4SMRXTVIWIRXEVWSFVIPEHMETSWMXMZEYREZIRXEREWMQMPEVEPEHI)\GIPGSRIPRSQFVI,SNEHIHEXSW]YRKVJMGSWSFVIPEHMETSWMXMZE
0ELSNEHIHEXSWIWXJSVQEHETSVYREWIVMIHIGIPHEWMRHMZMHYEPIWUYIJSVQERJMPEW]GSPYQREWIRIPPEWTSHVSFWIVZEVYREWIVMIHIHEXSWTSVSQMWMRUYITYIHIRWIVWYWXMXYMHSWTSVPSWHEXSWUYIYWXIHRIGIWMXI)PKVJMGSIWYREVITVIWIRXEGMRKVJMGEHIPSWHEXSWMRKVIWEHSWIRIWETPERMPPE
E)RIWXEXEFPEHIFIEKVIKEVPSWHEXSWUYIYWXIHHIWIEKVJMGEV
F)PKVJMGSEGXYEPM^EVPSWGEQFMSWEQIHMHEUYIWIGEQFMIRPSWZEPSVIWIRPEXEFPE
1MGVSWSJX4S[IV4SMRX
%PMRWIVXEVIPKVJMGSPEWFEVVEWHILIVVEQMIRXEW]PSWQIRIWHI4S[IV4SMRXWIWYWXMXY]IRTSVPEWHI1MGVSWSJX+VETLTEVEQSHMJMGEVIPKVJMGS
9REZI^UYILE]EGEVKEHSXSHSWPSWHEXSWHIPEXEFPEHIFILEGIVGPMGWSFVIPELSNETEVEZSPZIVE PEHMETSWMXMZEHI4S[IV4SMRXUYIGSRXMIRIEPKVJMGS
%8)2'-23XVEJSVQETEVEMRWIVXEVYRKVJMGSIRWYWHMETSWMXMZEWIWYXMPM^ERHSIPFSXRUYIWIIRGYIRXVEIRPE&EVVEHI,IVVEQMIRXEW)WXRHEV3FWIVZIIPFSXRUYIXMIRIIPVIGYEHVS,EGMIRHSGPMGIRIPQMWQSWIMRMGMEPEETPMGEGMR1MGVSWSJX+VETL
TEVE MRWIVXEVIPKVJMGS
-RWIVXEVKVJMGS
3FWIVZIGSQSPEFEVVEHIQIRGEQFMTSVSTGMSRIWTEVEQSHMJMGEVIP+VJMGSMRWIVXEHSIRWYHMETSWMXMZE
1MGVSWSJX4S[IV4SMRX
6IEPMGIPEEGXMZMHEHTEWSETEWSHIWHIIP2I[7ETMIRWUYIWI
YFMGE IR IP 'ETXYPS 8IQE 3FNIXSW 7YFXIQE -RWIVXEV YRKVJMGS4SVINIQTPS
1SHMJMGEVYR+VJMGS
%RXIW HIQSHMJMGEVIP EWTIGXSHI YR KVJMGS IW RIGIWEVMS GSRSGIV GEHEYRSHI PSWIPIQIRXSWUYIPSGSQTSRIR4SVPSXERXSSFWIVZIPEWMKYMIRXIMQEKIRTEVEJEQMPMEVM^EVWIGSRIPPSW
9REZI^UYIXIRKEIPKVJMGSWSFVIPEHMETSWMXMZETSHVQSHMJMGEVIPJSVQEXSHIGYEPUYMIVEHIWYWTEVXIWHIPQMWQS4EVEIPPSVIEPMGIHSFPIGPMGWSFVIIPWIGXSVUYIHIWIEQSHMJMGEVHIIWXEQERIVEWITVIWIRXEVYRGYEHVSHI JSVQEXSGSRZEVMEW WSPETEWUYIZEVMEVRHIEGYIVHSGSRIPSFNIXSWIPIGGMSREHS)RXVIPEWWSPETEWQWJVIGYIRXIW
7SPETE*YIRXITIVQMXIQSHMJMGEVXSHSIPJSVQEXSHIPXI\XSXMTSIWXMPSGSPSVXEQES]WYFVE]EHSHIPSWXXYPSWHIPKVJMGS
7SPETE8VEQEWFVMRHEPETSWMFMPMHEHHIIPIKMVYRGSPSVHIVIPPIRSTEVEIPWIGXSVHIPKVJMGSUYILE]EWIPIGGMSREHS
7SPETE2QIVSTIVQMXIQSHMJMGEVXSHSIPJSVQEXSRYQVMGS
7SPETE%PMRIEGMRWIYXMPM^ETEVEGEQFMEVPESVMIRXEGMRHIPSWXI\XSW
0I]IRHE
VIEHIKVJMGS
)NIHIGEXIKSVEW
VIEHIXVE^EHS
)NIHIZEPSVIW
7IVMI)WXI4YRXSIVXVMQZEPSV4PERSWPEXIVEPIW
1MGVSWSJX4S[IV4SMRX
8MTSHIKVJMGS
4EVEQSHMJMGEVIPXMTSHIKVJMGSIPGSPSVHIGEHEKVJMGSPEYFMGEGMRHIPEPI]IRHEIXGTSHVSTXEVTSVYREHIPEWWMKYMIRXIWEPXIVREXMZEW
3TGMRHIWHIPE&EVVEHI1IR)WXRHEV
3TGMRHIWHIIP1IRGSRXI\XYEP
9FMUYIIPTYRXIVSHIPQSYWIWSFVIIPVIEUYIHIWIEQSHMJMGEV
,EKEHSFPIGPMGWSFVIIPKVJMGS%TEVIGIRRYIZSWQIRIWHEXSW]KVEJMGSWIRPEFEVVEHIQIRIWXEPGSQSWISFWIVZEIRPEWMKYMIRXIMQEKIR
0EWSTGMSRIWHIIWXSWQIRIWPITIVQMXMVRVIEPM^EVPEWQSHMJMGEGMSRIWRIGIWEVMEW
1MGVSWSJX4S[IV4SMRX
,EKEYRGPMGGSRIPFSXRHIVIGLSHIP1SYWI]IRPEPMWXEUYIETEVIGIIPMNEPESTGMRHIJSVQEXSS
%8)2'-26IGYIVHIUYIPSWGYEHVSWUYIWITVIWIRXIRRSWMIQTVIWIVRPSWQMWQSW]EUYIPEWWSPETEWMVRGEQFMERHSHITIRHMIRHS
HIPSFNIXSHIPKVJMGSUYILE]EWIPIGGMSREHS
4EVEQSHMJMGEVIP*SVQEXSHIYRKVJMGSVIEPMGIIPWMKYMIRXITVSGIHMQMIRXS
7IPIGGMSRIIPIPIQIRXSHIPKVJMGSEPUYIHIWIEGEQFMEVIPJSVQEXSLEGMIRHSYRGPMGWSFVIIPQMWQS%FVEIPQIR*SVQEXS7IPIGGMSRIPETVMQIVEHIPEWSTGMSRIWUYIETEVIGIIWXESTGMRZEVMEVWYRSQFVIHIEGYIVHSGSRIPIPIQIRXSHIPKVJMGSUYILE]EWIPIGGMSREHS7IPIGGMSRIPSWRYIZSWZEPSVIWIRIPGYEHVSHIHMPSKS,EKEGPMGIRIPFSXR%GITXEV6ITIXMVPSWQMWQSWTEWSWTEVEQSHMJMGEVIPJSVQEXSHIPVIWXSHIPSWIPIQIRXSWHIPKVJMGS
GYEPUYMIVSXVETEVEQSHMJMGEVHMWXMRXSWEWTIGXSWHIPKVJMGS
9FMGEGMRHIP4YRXIVSHIP1SYWIIRIPWIGXSVUYIWIHIWIEQSHMJMGEV
1IRGSRXI\XYEP
1MGVSWSJX4S[IV4SMRX
,EKEGPMGIRGYEPUYMIVTEVXIHIPEHMETSWMXMZETEVEVIKVIWEVE4S[IV4SMRX
'EQFMEVIPXMTSHIKVJMGS
0EETPMGEGMRHI1MGVSWSJX+VETLGSRXMIRIYREKEPIVEHIKVJMGSWUYIPITIVQMXIWIPIGGMSREVHMJIVIRXIWXMTSW]WYFXMTSWHIKVJMGSWHITIRHMIRHSHIPSWHEXSWUYIHIWIIVITVIWIRXEV
4EVEIPPSVIEPMGIPSWWMKYMIRXIWTEWSW
,EKEHSFPIGPMGWSFVIIPKVJMGSTEVEMRKVIWEVE1MGVSWSJX+VETL9XMPMGIGYEPUYMIVEHIPEWWMKYMIRXIWSTGMSRIW
3TGMRHIWHIPE&EVVEHI1IR
,EKEGPMGWSFVI+VJMGS8MTSHIKVJMGS
%TEVIGIVIWXIGYEHVS
E7IPIGGMSRIIWXEWSPETE
F7IPIGGMSRIYR8MTSHIKVJMGS G7IPIGGMSRIYR
WYFXMTSHIKVJMGS
H%GITXIIPGYEHVS
3TGMRHIWHIPE&EVVEHI,IVVEQMIRXEW
,EKEGPMGWSFVIIWXIFSXR 8MTSHIKVJMGS
1MGVSWSJX4S[IV4SMRX
)PMQMREVYRKVJMGS
4EVEFSVVEVYRKVJMGSHIFIWIKYMVIWXSWTEWSW
4VMQIVSHIFIWEPMVHIPEETPMGEGMR1MGVSWSJX+VETLLEGMIRHSYRGPMGJYIVEHIPKVJMGSTEVEZSPZIVEPEHMETSWMXMZE7IPIGGMSRIIPKVJMGS4VIWMSRIPEXIGPE
F7IPIGGMSRIIPQSHIPSUYIHIWIEETPMGEV
E,EKEYRGPMG
1MGVSWSJX4S[IV4SMRX
-RWIVXEVYRSVKERMKVEQE
3VKERMKVEQE
)RPEWHMETSWMXMZEWTYIHIMRWIVXEVXEQFMRSVKERMKVEQEW4S[IV4SMRXYXMPM^EYREETPMGEGMRPPEQEHE1MGVSWSJX3VKERM^EXMSR'LEVX
4EVEIPPSVIEPMGIIPWMKYMIRXITVSGIHMQMIRXS
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)PSVKERMKVEQEWITVIWIRXEVHIPEWMKYMIRXIQERIVE
E,EKEGPMGIRYRSTGMR
F%GITXIIPGYEHVS
1MGVSWSJX4S[IV4SMRX
4EXVRHI(METSWMXMZEW
4EXVRHI(MWIS
)PTEXVRIWYREVIEUYITIVQMXIEKVIKEVIPIQIRXSWSEWMKREVJSVQEXSWEPSWSFNIXSWTEVEUYIWXSWWIVITMXEREYXSQXMGEQIRXIIRXSHEWPEWLSNEWHIPEVGLMZS)\MWXIRHMWXMRXSWXMTSWHI4EXVRUYIWIIPMKIRHIEGYIVHSGSRIPWIGXSVUYIWIHIWIIVITIXMV4S[IV4SMRXXMIRIYREHMETSWMXMZEIWTIGMEPHIRSQMREHE4EXVRHIHMETSWMXMZE)PTEXVRHIHMETSWMXMZEWGSRXVSPEPEWTVSTMIHEHIWHIGEHEYREHIPEWHMETSWMXMZEWHIPEVGLMZS'SPSVHIPXI\XSGSPSVHIJSRHSXMTSWHIPIXVEXEQESHIJYIRXIIXG]TIVQMXIEKVIKEVMRJSVQEGMRIRIPPEJIGLE]LSVERQIVSHITKMREIXG(IQSHSUYIIWSWISFWIVZIIRGEHEHMETSWMXMZEXERXSTEVEWYMQTVIWMRMRHMZMHYEPGSQSTEVEWYTVIWIRXEGMRIRTERXEPPE
:MWYEPM^EVIP4EXVRHI(METSWMXMZE
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1MGVSWSJX 4S[IV4SMRX \T
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1MGVSWSJX 4S[IV4SMRX \T
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(MJIVIRXIWJSVQEWHIGSRJMKYVEVYRETVIWIRXEGMR
9RE TVIWIRXEGMR TYIHI I\TSRIVWI HI XVIW JSVQEW HMJIVIRXIW HI EGYIVHS E WYWRIGIWMHEHIW
6IEPM^EHETSVYRSVEHSV(SRHIPEWHMETSWMXMZEWWITVIWIRXERETERXEPPEGSQTPIXE]WSRGSRXVSPEHEWTSVIPQMWQSSVEHSVHIEGYIVHSGSRPSWXMIQTSWIQTPIEHSW)\EQMREHEIRJSVQEMRHMZMHYEP0EWHMETSWMXMZEWWITVIWIRXERIRYREZIRXERE)\EQMREHEIRI\TSWMGMR(SRHIPEWHMETSWMXMZEWWIQYIWXVERIRTERXEPPEGSQTPIXETIVSPETVIWIRXEGMRWIINIGYXEEYXSQXMGEQIRXIYXMPM^ERHS PSW MRXIVZEPSWHI XVERWMGMR] PEREVVEGMRKVEFEHE
4EVEGSRJMKYVEVPETVIWIRXEGMRVIEPMGIPSWWMKYMIRXIWTEWSW
,EKEGPMGIRIPQIR4VIWIRXEGMR'SRJMKYVEVTVIWIRXEGMR%TEVIGIIPWMKYMIRXIGYEHVS
'SRJMKYVEVYRETVIWIRXEGMR
1MGVSWSJX 4S[IV4SMRX \T
4EVE ZMWYEPM^EV PE TVIWIRXEGMR ] SFWIVZEV PE GSRJMKYVEGMR VIEPM^EHE WMKE PSWWMKYMIRXIWTEWSW
%GXMZIPETVMQIVEHMETSWMXMZE,EKEGPMGIRIPQIR4VIWIRXEGMR:IVTVIWIRXEGMR%WZIVPETVIWIRXEGMRGSRPEGSRJMKYVEGMRUYIPILE]ESXSVKEHS
6IEPMGIPEEGXMZMHEHTEWSETEWSHIWHIIP2I[7ETMIRWUYIWIYFMGEIRIP'ETXYPS8IQE'SRJMKYVEVTVIWIRXEGMSRIW7YFXIQE'VIEGMRHIYRE
TVIWIRXEGMREYXSQXMGE4SVINIQTPS
6IEPMGIPEEGXMZMHEHTEWSETEWSHIWHIIP2I[7ETMIRWUYIWIYFMGEIRIP'ETXYPS8IQE6ITEWS+IRIVEP7YFXIQE4VGXMGE0EFSVEP4SVINIQTPS
1MGVSWSJX 4S[IV4SMRX \T
)RIWXEEGXMZMHEHXIRHVUYIYXMPM^EVEPKYREWLIVVEQMIRXEWHIERMQEGMRTEVEQINSVEVIPEWTIGXS HI PEW HMETSWMXMZEW8VEFENEV GSR PEW HSW TVIWIRXEGMSRIW GVIEHEW LEWXE IP
QSQIRXSw0ER^EQMIRXS(YPGIGLSOx]w0ER^EQMIRXSx
%FVEPETVIWIRXEGMR0ER^EQMIRXS(YPGIGLSOGVIEHEIRPE%GXMZMHEH]KYEVHEHEIRWYHMWUYIXI%KVIKYIEGEHEYRSHIPSWSFNIXSWHIPEWHMETSWMXMZEWHMWXMRXSWWSRMHSW]IJIGXSWHIERMQEGMR7MHIWIETYIHIQSHMJMGEVIPSVHIRHIERMQEGMRHIPSWSFNIXSWHIWHIIPGYEHVS
HI4IVWSREPM^EVERMQEGMR )WXEFPI^GE PE XVERWMGMR HI PEW HMETSWMXMZEW IR JSVQE EYXSQXMGE TEVE MRHMGEV PEETEVMGMRHIPEWQMWQEW
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
%GXMZMHEH
1MGVSWSJX 4S[IV4SMRX \T
6ITEWSHIPGETXYPS
'YPIWWSRPSWTEWSWUYIHIFIWIKYMVTEVEERMQEVYRSFNIXS#
4EVEUYWIYXMPM^EPELIVVEQMIRXE8VERWMGMRHIHMETSWMXMZEW#
5YJYRGMRGYQTPIPELIVVEQMIRXE)RWE]EVMRXIVZEPSW#
'YPIWWSRPSWTEWSWUYIHIFIWIKYMVTEVEGSRJMKYVEVYRETVIWIRXEGMR#
1MGVSWSJX 4S[IV4SMRX \T
'ETXYPS
%PXVQMRSHIIWXIGETXYPSIWTIVEQSWUYIPSKVIRPSWWMKYMIRXIWSFNIXMZSW
R %TVIRHIVEEKVIKEVZS^EYRETVIWIRXEGMREXVEZWHIPESTGMR+VEFEV2EVVEGMRR %TVIRHIVEIPMQMREVYREREVVEGMRIRIPGEWSUYIJYIVERIGIWEVMS
R 'SQTVIRHIVPEYXMPMHEHHIPEWLIVVEQMIRXEWQYPXMQIHMEUYIWITYIHIRMRGSVTSVEVIRPEWHMETSWMXMZEWHIPETVIWIRXEGMR
R %KVIKEVTIPGYPEW]WSRMHSWEPEWHMETSWMXMZEWHIWHIEVGLMZS]YXMPM^ERHSPEKEPIVEUYI
SJVIGIIPTVSKVEQEHI4S[IV4SMRXR %TVIRHIVEVITVSHYGMVYRWSRMHS]XEQFMRYRETIPGYPEMRWIVXEHEIR4S[IV4SMRXR %WMQMPEVPSWGSRGITXSWHIPSWXIQEWUYIXVEXEIWXIGETXYPS]VIEPM^EVPEWEGXMZMHEHIW
TEVEPEMRXIKVEGMRHIGSRSGMQMIRXSW
3VKERM^EGMRHI'SRXIRMHSW
'ETXYPSW 8IQEWHI%TVIRHM^ENI 'SRXIRMHSW1RMQSW
+VEFEV2EVVEGMR
'ETXYPS
+VEFEVREVVEGMR+VEFEVYRE
REVVEGMR)PMQMREVPEREVVEGMRHIYREHMETSWMXMZE
4IPGYPEW]7SRMHSW
4VIWIRXEGMSRIW1YPXMQIHMEPIW7SRMHSW]TIPGYPEW%KVIKEVYRWSRMHSIRYREXVERWMGMRIRXVI
HMETSWMXMZEW-RWIVXEVYRWSRMHSIRYREHMETSWMXMZE6ITVSHYGMVYRWSRMHS1SHMJMGEGMRHIPEW
STGMSRIWHIVITIXMGMRHIPETIPGYPE
1MGVSWSJX 4S[IV4SMRX \T
+VEFEVREVVEGMR
+VEFEV2EVVEGMR
4S[IV4SMRXTIVQMXIKVEFEV]EKVIKEVYREREVVEGMRSWSRMHSLEFPEHSIRPETVIWIRXEGMR
GSRHMETSWMXMZEW
%8)2'-28IRKEIRGYIRXEUYITEVETSHIVKVEFEVYREREVVEGMRPEGSQTYXEHSVEHIFIVHMWTSRIVHIYRETPEGEHIWSRMHS]TEVPERXIW7ITYIHIKVEFEVYREREVVEGMRERXIWHIINIGYXEVYRETVIWIRXEGMR]EWEKVIKEVPEEPEWHMETSWMXMZEWSXEQFMRWITYIHIRKVEFEVWSRMHSWHYVERXIPETVIWIRXEGMRIMRGPYMVEWP