- 585$/ $8&7,21 &(175(
&KZdE/',d>z ^ > K&
ϮϬϬ & Z /E' Θ ^dKZ dd> >^K dK z
ϭϬϬ >s ^ Θ ^d/Z<^ ϲϬ ^d ͬ KdD dd>
d,hZ^ z ϭϮd, D Z ϮϬϮϰ KDD E /E' d ϭϬ D 1RUWK :HVW $XFWLRQV - 5XUDO $XFWLRQ &HQWUH &URRNODQGV 0LOQWKRUSH &XPEULD /$ )3 W ZZZ QZDXFWLRQV FR XN H LQIR#QZDXFWLRQV FR XN
6$/( &21',7,216 6WRFN ZLOO EH VROG XQGHU WKH &RQGLWLRQV RI 6DOH GLVSOD\HG LQ WKH 0DUNHW UHFRPPHQGHG E\ WKH /LYHVWRFN $XFWLRQHHUV¶ $VVRFLDWLRQ IRU (QJODQG DQG :DOHV $OO KHLIHUV RIIHUHG IRU VDOH DUH QRW ZDUUDQWHG DV EUHHGHUV XQOHVV RWKHUZLVH VWDWHG - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - +($/7+ 6$)(7< ,W LV UHPLQGHG WR DOO FXVWRPHUV WKDW /LYHVWRFN VKRXOG QRW EH XQORDGHG ZLWKRXW WKH DVVLVWDQFH RI D PHPEHU RI VWDII &KLOGUHQ DUH QRW DOORZHG LQ WKH VDOH ULQJ DW DQ\ WLPH 3OHDVH LQIRUP D PHPEHU RI VWDII EHIRUH XQORDGLQJ LI \RXU OLYHVWRFN FRXOG EH GDQJHURXV - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 9(1'256 3/($6( 127( 9HQGRUV SOHDVH PDNH VXUH \RX KDYH D FRPSOHWHG D EOXH FDWWOH HQWU\ IRUP DQG EULQJ LW ZLWK \RXU VWRFN 3OHDVH HQVXUH \RX EULQJ WKH FRUUHFW SDVVSRUWV FKHFN WKDW DOO VKRZ WKH DQLPDO¶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
KZ Z K& ^ > Θ ^,Kt ^ , h> ϭϬĂŵ &ŽƌƚŶŝŐŚƚůLJ ^ĂůĞ ŽĨ ĂůǀĞƐ ĂŶĚ ^ƟƌŬƐ ,Z/^dD ^ ^,Kt Θ ^ > K& >s ^ ;hŶĚĞƌ ϱϲ ĂLJƐ KůĚͿ ^ŚŽǁ ĂůǀĞƐ ƚŽ ďĞ ƉĞŶŶĞĚ ďLJ ϵ͘ϭϱĂŵ :ƵĚŐŝŶŐ Ăƚ ϵ͘ϯϬĂŵ
ůĂƐƐ ϭ͗ EĂƟǀĞ Ƶůů ĂůĨ ůĂƐƐ Ϯ͗ EĂƟǀĞ ,ĞŝĨĞƌ ĂůĨ ůĂƐƐ ϯ͗ ŽŶƟŶĞŶƚĂů Ƶůů ĂůĨ ůĂƐƐ ϰ͗ ŽŶƟŶĞŶƚĂů ,ĞŝĨĞƌ ĂůĨ ůĂƐƐ ϱ͗ ĂŝƌLJ Ƶůů ĂůĨ
ϭϬ͘ϯϬĂŵ - ZŝŶŐ Ϯ͘ ^ĂůĞ ŽĨ ĂƐƚ ŽǁƐͬ&ĞĞĚŝŶŐ ŽǁƐ͕ KdDƐ ,Z/^dD ^ ^,Kt Θ ^ > K& ^d Kt^ ůĂƐƐ ϭ͗ ,ŝŐŚĞƐƚ WƌŝĐĞĚ ŽŶƟŶĞŶƚĂů ƉĞƌ ŬŐ ůĂƐƐ Ϯ͗ ,ŝŐŚĞƐƚ WƌŝĐĞĚ ůĂĐŬ Θ tŚŝƚĞ ƉĞƌ ŬŐ ůĂƐƐ ϯ͗ ,ŝŐŚĞƐƚ WƌŝĐĞĚ ƉĞƌ ŚĞĂĚ ŽǀĞƌĂůů
ZŝŶŐ ϭ - ϭϭ͘ϭϱĂŵ ĂƉƉƌŽdž͘ ĞĞĨ ƌĞĞĚŝŶŐ Θ ^ƚŽƌĞ ĂƩůĞ
<ŝŶĚůLJ ^ƉŽŶƐŽƌĞĚ ďLJ
^d/Z<^ - dK W EE /E >> z sĞŶĚŽƌ EĂŵĞ
EŽ
: > t͕ D Z^, ,Kh^ & ZD
ϴ
^/D y Θ y
ϴ-ϵD
/ yd Z͕ > E ,Kh^
ϯ
Θ ><^
ϱ-ϳD
W ^D/d, Θ ^KE^͕ DKKZ^ ,Kh^
ϰ
Dy ,&Z^ Θ ><^
ϲD
D , ZZ/^KE͕ D/>> E<
ϱ
^/D Θ >/D ><^
ϳ-ϵD
ĞƐĐƌŝƉƟŽŶ
ŐĞ
d
&
ϰ
E
ϰ
z
& Z /E' dd> W Ä ϳϭ-ϳϮ
>Êã
s Ä ÊÙ E Ã
Ϯϱϭ-ϮϱϮ d : <^KE͕ ZKK< ' d & ZD
EÊ Ϯ
Ý Ù®Öã®ÊÄ
d &
Kt ϲϬD Θ ,&Z >& ϵD
^dKZ dd> W Ä
>Êã
s Ä ÊÙ E Ã
ϭϲ
ϭ-Ϯ
: ZE ^͕ 'h ^d &KZ
Ϯ
ϭϳ-ϮϬ
ϯ-ϮϮ
D ^^Z^ ,K '^KE͕ , Zd^KW , >>
ϮϬ Dy
ϵD
ϰ
Ϯϭ-Ϯϱ
Ϯϯ-ϱϮ
, z ^ > E /DWZKs D Ed
ϯϬ >/D Dy
ϳ-ϴD
ϰ
Ϯϲ-Ϯϳ
ϱϯ-ϱϴ
^ t,/d , ͕ >Kt t d Z^/
ϲ
>/D
ϭϬD
ϰ
Ϯϴ-Ϯϵ
ϱϵ-ϲϯ
Z t, ZdKE Θ ^KE͕ ,/', &/ >
ϱ
>/D ><^ Θ ,&Z^
ϭϬD
ϯϬ
ϲϰ-ϲϱ
Θ d, ydKE͕ ^ z> ^ & ZD
Ϯ
& ^,KZd,KZE ><^ Eͬ^/Z
ϲ-ϴD
ϰ
E
ϯϭ-ϯϮ
ϲϲ-ϳϭ
dt E >^KE͕ K <Z/'' & ZD
ϲ
>/D Θ Dy
ϭϮ-ϭϲD
ϰ
z
ϯϯ-ϯϱ
ϳϮ-ϴϭ
'D ^dZKE'͕ ^ ,KK> ,/>>
ϭϬ Θ ><^
ϭϰ-ϭϱD
ϭ
z
ϰϭ
ϴϮ-ϴϯ
Zd 'KZ^d͕ d, K , ,Kh^
Ϯ
>/D ,&Z^
ϭϳD
ϰ
E
ϰϮ
ϴϰ-ϴϱ
D d D E͕ DKKZ^ & ZD
Ϯ
><^
ϮϮD
ϰ
ϰϯ-ϰϰ
ϴϲ-ϵϬ
: dt/'' ͕ ,KD > E ^
ϱ
KEd
ϮϮD
ϰ
ϰϱ
ϵϭ-ϵϰ
D Θ > WZ ͕ ,/', ,Kh^
ϰ
>/D ><^ Θ ,&Z^
ϭϴ-ϮϬD
ϭ
ϰϲ-ϰϴ
ϵϱ-ϭϬϵ
' Θ / WK^d> d,t /d ͕ Z/ /E'^
ϭϱ ><^ Θ ,&Z^
ϭϰ-ϭϴD
ϰ
ϰϵ-ϱϬ
ϭϭϬ-ϭϭϵ Z' ZK /E^KE͕ >> Z^ & ZD
ϭϬ Dy
ϭϴ-ϮϰD
ϭ
ϱϭ
ϭϮϬ-ϭϮϯ ' Θ D ZK /E^KE͕ K> ^ d ZE
ϰ
ϭϰ-ϭϱD
ϰ
ϱϮ-ϱϰ
ϭϮϰ-ϭϯϴ
ϭϱD
ϭ
Z hdd Z&/ > Θ ^KE͕ DK^^ ,Kh^ & ZD
EÊ
Ý Ù®Öã®ÊÄ >/D h>>^
&Z ><^ Θ ><^ Θ ,&Z^
ϭϱ >/D ><^ Θ ,&Z^
¦
d
&
ϲ-ϭϰD
E
z
z
z
^dKZ dd> KEd ͘͘͘ W Ä
>Êã
s Ä ÊÙ E Ã
EÊ
Ý Ù®Öã®ÊÄ
¦
d &
ϱϱ
ϭϯϵ-ϭϰϮ D ,Kt Zd,͕ Ks Z^ E ^ s/ t
ϰ
Θ ,& ><^
ϮϮ-ϮϯD
ϰ
E
ϱϲ
ϭϰϯ-ϭϰϰ ^ Θ D KKW Z͕ d ZE^/ & ZD
Ϯ
>KE ,&Z^
ϮϮ-ϮϰD
ϰ
z
ϭ
><
ϭϴD
ϰ
z
ϱϳ
ϭϰϱ
Dt Θ DZ > <͕ ^ ZK''^ & ZD
ϱϴ
ϭϰϲ-ϭϰϵ d Θ ^ WZK d Z͕ s/>> & ZD
ϰ
Dy
ϮϬ-ϮϰD
ϰ
z
ϱϵ-ϲϭ
ϭϱϬ-ϭϲϭ : t/',dD E͕ Z dZ & ZD
ϭϮ Dy
ϭϲ-ϮϬD
ϭ
z
ϲϮ
ϭϲϮ-ϭϲϱ : > < Θ ^KE͕ KhE Zz <
ϰ
& ^,KZd,KZE >< Θ ,&Z^ Eͬ^/Z
ϭϴ-ϮϬD
ϰ
z
ϲϯ
ϭϲϲ-ϭϲϴ : KtE ^^͕ > d ZE ZK
ϯ
Θ ,&
ϮϰD
ϲϰ
ϭϲϵ-ϭϳϬ
</d ,/E' Θ ^D/d,͕ ' ZE dd ,Kh^ & ZD
Ϯ
,&Z^
ϭϰ-ϭϱD
ϲϱ
ϭϳϭ-ϭϳϮ Θ d tKK ͕ Kd^ Z /E' & ZD
Ϯ
WhZ & ^,KZd,KZE ,&Z^
ϮϳD
ϲϲ
ϭϳϯ-ϭϳϱ : Θ > E ^d Z͕ E Z < & ZD
ϯ
W /'Z & ^,KZd,KZE
ϭϰ-ϯϯD
ϲϳ
ϭϳϲ-ϭϳϵ ^ Θ ^ tKK ͕ >KE'> E ^
ϰ
&Z ><^
ϭϴD
ϭ
z
ϲϴ
ϭϴϬ-ϭϴϭ Z: ^d >< Z͕ ,Kh<> Z , >> ZE
Ϯ
,& ,&Z^
ϭϮ-ϭϴD
ϰ
E
ϲϵ
ϭϴϮ-ϭϴϰ ^ , ' E͕ ^W^ & ZD
ϯ
WhZ & ^,KZd,KZE
ϭϵ-ϮϯD
ϰ
E
ϳϬ
ϭϴϱ-ϭϴϳ D > tZ E^KE͕ ,/>> ,Kh^ & ZD
ϯ
Dy
ϭϳ-ϮϬD
ϰ
E
ϵϵ
ϭϴϴ-ϭϴϵ Z > E ͕ dKtE ,
Ϯ
Θ ,& Dy
ϮϬD
ϭϬϬ
ϭϵϬ-ϭϵϭ ^ /yKE͕ ZK&d Kdd '
Ϯ
KEd Dy
ϭϰ-ϭϳD
ϭϬϭ
ϭϵϮ-ϭϵϳ Z/> z͕ t ^d &/ > & ZD
ϲ
>/D ><^
ϭϴD
ϰ
E
ϭϬϮ
ϭϵϴ-ϮϬϬ :d WZK d Z͕ D/Z ^/
ϯ
>/D ><^ Θ ,&Z^
ϭϰD
&ŽůůŽǁĞĚ ďLJ ^ĂůĞ ĂLJ ŶƚƌŝĞƐ
^ĂůĞ <ŝŶĚůLJ ^ƉŽŶƐŽƌĞĚ LJ
hW KD/E' ^ > ^ d,hZ^ z ϭϵd, D Z &ŽƌƚŶŝŐŚƚůLJ ^ĂůĞ ŽĨ ^ƚŽƌĞ >ĂŵďƐ ^ƉĞĐŝĂů ^ĂůĞ ŽĨ ZĞĂƌĞĚ Θ tĞĂŶĞĚ ĂůǀĞƐ ; ĂƚĂůŽŐƵĞ ĞŶƚƌŝĞƐ ďLJ tĞĚŶĞƐĚĂLJ ϭϭƚŚ ĞĐĞŵďĞƌͿ ———————————————————————————————————————————— ^ dhZ z Ϯϭ^d D Z ϭϬ͗ϯϬĂŵ ^ĂůĞ ŽĨ ƌĞƐƐĞĚ WŽƵůƚƌLJ ———————————————————————————————————————————— dh ^ z Ϯϰd, D Z - EŽ ^ĂůĞ ———————————————————————————————————————————— d,hZ^ z Ϯϲd, D Z - EŽ ^ĂůĞ ———————————————————————————————————————————— &Z/ z Ϯϳd, D Z WƌŝŵĞ >ĂŵďƐ Θ ĂƐƚ ^ŚĞĞƉ ;W> ^ EKd , E' K& ^ > zͿ ———————————————————————————————————————————— dh ^ z ϯϭ^d D Z - EŽ ^ĂůĞ ———————————————————————————————————————————— d,hZ^ z ϮE : Eh Zz &ŽƌƚŶŝŐŚƚůLJ ^ĂůĞ ŽĨ ^ƚŽƌĞ ,ŽŐŐƐ ; ĂƚĂůŽŐƵĞ ĞŶƚƌŝĞƐ ďLJ DŽŶĚĂLJ ϮϯƌĚ ĞĐĞŵďĞƌͿ