NeoStrata by GIDM

The Science of Great Skin

Ʉɨɦɩɚɧɢɹ 1HR6WUDWD® ɩɪɟɞɥɚɝɚɟɬ ɲɢɪɨɤɢɣ ɜɵɛɨɪ ɭɧɢɤɚɥɶɧɵɯ ɫɪɟɞɫɬɜ ɭɯɨɞɚ ɡɚ ɤɨɠɟɣ ɫɨɡɞɚɧɧɵɯ ɧɚ ɨɫɧɨɜɟ ɡɚɩɚɬɟɧɬɨɜɚɧɧɵɯ ɩɟɪɟɞɨɜɵɯ ɬɟɯɧɨɥɨɝɢɣ ɩɪɨɢɡɜɨɞɫɬɜɚ ɚɥɶɮɚ ɝɢɞɪɨɤɫɢɤɢɫɥɨɬ ȺɇȺ ɩɨɥɢɝɢɞɪɨɤɫɢɤɢɫɥɨɬ ɊɇȺ ɢ ɩɨɥɢɨɤɫɢɛɢɨɧɨɜɵɯ ɤɢɫɥɨɬ

Ǫ ȘȍȏțȓȤȚȈȚȍ ȗȘȐȔȍȕȍȕȐȧ ȗȘȍȗȈȘȈȚȖȊ NeoStrata Ǫȣ țȊȐȌȐȚȍ Ȑ ȖȡțȚȐȚȍ ȏȕȈȟȐȚȍȓȤȕȣȍ ȐȏȔȍȕȍȕȐȧ ȒȈȟȍșȚȊȈ ǪȈȠȍȑ ȒȖȎȐ

ȅȜȜȍȒȚȐȊȕȖșȚȤ ȗȘȖȌțȒȞȐȐ NeoStrata ȉȣȓȈ ȌȖȒȈȏȈȕȈ ȗțȚȍȔ ȐșȗȖȓȤȏȖȊȈȕȐȧ ȕȈ ȠȐȘȖȒȖȔ ȔȕȖȋȖȖȉȘȈȏȐȐ ȚȐȗȖȊ ȒȖȎȐ Ȑ ȍȨ șȖșȚȖȧȕȐȑ ȊȒȓȦȟȈȧ ȜȖȚȖșȚȈȘȍȕȐȍ ȘȖȏȈȞȍȈ ȋȐȗȍȘȗȐȋȔȍȕȚȈȞȐȦ ȋȐȗȍȘȒȍȘȈȚȖȏ ȟȘȍȏȔȍȘȕțȦ șțȝȖșȚȤ Ȑ ȈȒȕȍ

ǷȘȖȌțȒȞȐȧ NeoStrata ȥȚȖ t ȗȘȍȗȈȘȈȚȣ ȕȈ ȖșȕȖȊȍ ȏȈȗȈȚȍȕȚȖȊȈȕȕȣȝ ȗȍȘȍȌȖȊȣȝ ȚȍȝȕȖȓȖȋȐȑ ȗȘȖȐȏȊȖȌșȚȊȈ ȈȓȤȜȈ ȋȐȌȘȖȒșȐȒȐșȓȖȚ $+$ ȗȖȓȐȋȐȌȘȖȒșȐȒȐșȓȖȚ 3+$ Ȑ ȗȖȓȐȖȒșȐȉȐȖȕȖȊȣȝ ȒȐșȓȖȚ

t ȥȜȜȍȒȚȐȊȕȈȧ ȗȘȖȜȐȓȈȒȚȐȒȈ ȊȖȏȘȈșȚȕȣȝ ȐȏȔȍȕȍȕȐȑ

t ȥȜȜȍȒȚȐȊȕȈȧ ȚȍȘȈȗȐȧ ȘȈȏȓȐȟȕȣȝ ȌȍȘȔȈȚȖȓȖȋȐȟȍșȒȐȝ ȗȈȚȖȓȖȋȐȑ ȟțȊșȚȊȐȚȍȓȤȕȖȑ Ȑ ȈȚȖȗȐȟȕȖȑ ȒȖȎȐ ȈȒȕȍ ȟȘȍȏȔȍȘȕȖȑ șțȝȖșȚȐ ȋȐȗȍȘȒȍȘȈȚȖȏȈ Ȑ ȋȐȗȍȘȗȐȋȔȍȕȚȈȞȐȐ

t ȗȘȍȗȈȘȈȚȣ ȗȘȖȊȍȘȍȕȕȣȍ Ȑ ȖȌȖȉȘȍȕȕȣȍ ȌȍȘȔȈȚȖȓȖȋȈȔȐ ȗȖ ȊșȍȔț ȔȐȘț

t ȋȈȘȈȕȚȐȘȖȊȈȕȕȣȑ ȘȍȏțȓȤȚȈȚ ȗȘȐ ȘȍȠȍȕȐȐ ȘȈȏȓȐȟȕȣȝ ȗȘȖȉȓȍȔ ț ȊȈȠȐȝ ȗȈȞȐȍȕȚȖȊ

Ɉɬɤɪɨɣɬɟ ɞɥɹ ɫɟɛɹ ɝɚɦɦɭ ɩɪɨɮɟɫɫɢɨɧɚɥɶɧɵɯ ɩɪɟɩɚɪɚɬɨɜ ɪɟɤɨɦɟɧɞɭɟɦɵɯ ɜɪɚɱɚɦɢ ɷɤɫɩɟɪɬɚɦɢ ɜɨ ɜɫɟɦ ɦɢɪɟ ǶșȕȖȊȈȚȍȓȐ ȉȘȍȕȌȈ 1HR6WUDWD® ȌȖȒȚȖȘȈ ǪȈȕ ǹȒȖȚȚ Ȑ ǸțȐ Ȇ ȗȖȓțȟȐȓȐ

ȔȍȎȌțȕȈȘȖȌȕȖȍ ȗȘȐȏȕȈȕȐȍ ȉȓȈȋȖȌȈȘȧ ȘȍȊȖȓȦȞȐȖȕȕȖȔț ȖȚȒȘȣȚȐȦ ȖȔȖȓȈȎȐȊȈȦȡȐȝ șȊȖȑșȚȊ ȈȓȤȜȈ Ȑ ȗȖȓȐȋȐȌȘȖȒșȐȒȐșȓȖȚ ȇȊȓȧȧșȤ ȊȓȈȌȍȓȤȞȈȔȐ ȗȈȚȍȕȚȈ ȕȈ ȗȍȘȊȣȑ Ȋ ȔȐȘȍ ȋȓȐȒȖȓȍȊȣȑ ȗȐȓȐȕȋ ȖȕȐ ȗȘȖȐȏȊȍȓȐ ȗȘȖȘȣȊ Ȋ ȘȈȏȘȈȉȖȚȒȍ ȥȜȜȍȒȚȐȊȕȣȝ ȈȕȚȐȊȖȏȘȈșȚȕȣȝ șȘȍȌșȚȊ Ȍȓȧ ȓȦȉȖȋȖ ȚȐȗȈ ȒȖȎȐ ǪȖȚ țȎȍ ȉȖȓȍȍ ȓȍȚ șȘȍȌșȚȊȈ țȝȖȌȈ ȏȈ ȒȖȎȍȑ ȒȖȔȗȈȕȐȐ 1HR6WUDWD® ȗȖȒȈȏȣȊȈȦȚ ȊȣșȖȒțȦ ȥȜȜȍȒȚȐȊȕȖșȚȤ Ȋ ȒȓȐȕȐȟȍșȒȐȝ țșȓȖȊȐȧȝ Ȑ țșȗȍȠȕȖ ȗȘȐȔȍȕȧȦȚșȧ Ȍȓȧ ȘȈȏȕȣȝ ȚȐȗȖȊ Ȑ ȌȍȘȔȈȚȖȓȖȋȐȟȍșȒȐȝ șȖșȚȖȧȕȐȑ ȒȖȎȐ ȜȖȚȖșȚȈȘȍȕȐȍ ȘȖȏȈȞȍȈ ȋȐȗȍȘȗȐȋȔȍȕȚȈȞȐȧ ȗȈȚȖȓȖȋȐȟȍșȒȈȧ șțȝȖșȚȤ ȈȒȕȍ ȉȓȈȋȖȌȈȘȧ ȟȍȔț ȏȈȊȖȍȊȈȓȐ ȌȖȊȍȘȐȍ ȊȍȌțȡȐȝ ȊȘȈȟȍȑ ȌȍȘȔȈȚȖȓȖȋȖȊ ȊșȍȋȖ ȔȐȘȈ

Dr. Eugene J. Van Scott, MD,dermatologist

Dr. Ruey J. Yu, OMD, PhD, dermatopharmacologist

ǷȘȐȏȕȈȕȕȣȍ ȖȉȓȈȌȈȚȍȓȐ ȗȘȍșȚȐȎȕȣȝ ȕȈȋȘȈȌ Ȋ ȖȉȓȈșȚȐ ȌȍȘȔȈȚȖȓȖȋȐȐ ǬȖȒȚȖȘ ȅțȋȍȕ ǪȈȕ ǹȒȖȚȚ ± ȔȈȋȐșȚȘ ȌȍȘȔȈȚȖȓȖȋȐȐ ȖȉȓȈȌȈȚȍȓȤ ȗȘȍșȚȐȎȕȖȑ ȗȘȍȔȐȐ ǨȓȤȉȍȘȚȈ ǳȈșȒȍȘȈ ȏȈ ȐșșȓȍȌȖȊȈȕȐȧ ȒȖȎȕȖȑ Ǻ ȒȓȍȚȖȟȕȖȑ ȓȐȔȜȖȔȣ ȖșȕȖȊȈȚȍȓȤ ȖȚȌȍȓȍȕȐȧ ȌȍȘȔȈȚȖȓȖȋȐȐ ǵȈȞȐȖȕȈȓȤȕȖȋȖ ȐȕșȚȐȚțȚȈ ȏȌȖȘȖȊȤȧ ǹȀǨ ǬȖȒȚȖȘ ǸțȐ Ȇ ± ȌȍȘȔȈȚȖȓȖȋ ȜȈȘȔȈȒȖȓȖȋ șȗȍȞȐȈȓȐșȚ ȗȖ ȊȖșȚȖȟȕȖȑ ȔȍȌȐȞȐȕȍ ȖȉȓȈȌȈȚȍȓȤ ȏȖȓȖȚȖȑ ȔȍȌȈȓȐ ǴȍȎȌțȕȈȘȖȌȕȖȑ ǨȒȈȌȍȔȐȐ ȒȖșȔȍȚȐȟȍșȒȖȑ ȌȍȘȔȈȚȖȓȖȋȐȐ

Ʉɨɦɩɚɧɢɹ 1HR6WUDWD® ɹɜɥɹɟɬɫɹ ɭɧɢɤɚɥɶɧɨɣ ɛɥɚɝɨɞɚɪɹ ɫɜɨɢɦ ɩɟɪɟɞɨɜɵɦ ɬɟɯɧɨɥɨɝɢɹɦ ɢ ɧɚɭɱɧɵɦ ɢɫɫɥɟɞɨɜɚɧɢɹɦ ȼɟɞɭɳɢɟ ɢɡɞɚɧɢɹ ɩɨ ɤɨɫɦɟɬɨɥɨɝɢɢ ɜ ɋɨɟɞɢɧɟɧɧɵɯ ɒɬɚɬɚɯ ɢ ɩɨ ɜɫɟɦɭ ɦɢɪɭ ɪɟɝɭɥɹɪɧɨ ɩɭɛɥɢɤɭɸɬ ɧɚɭɱɧɵɟ ɫɬɚɬɶɢ ɪɟɡɭɥɶɬɚɬɵ ɢɫɫɥɟɞɨɜɚɧɢɣ ɢ ɚɧɨɧɫɵ ɧɨɜɢɧɨɤ ɨɬ ɤɨɦɩɚɧɢɢ 1HR6WUDWD®

ȼɩɟɪɟɞ ɤ ɡɞɨɪɨɜɨɣ ɫɢɹɸɳɟɣ ɤɨɠɟ ɫ ɤɨɫɦɟɬɢɱɟɫɤɢɦɢ ɫɪɟɞɫɬɜɚɦɢ ɨɬ ɪɚɡɪɚɛɨɬɱɢɤɨɜ ɚɥɶɮɚ ɢ ɩɨɥɢɝɢɞɪɨɤɫɢɤɢɫɥɨɬ ǫȓȐȒȖȓȍȊțȦ ȒȐșȓȖȚț ȗȖȓțȟȈȦȚ Ȑȏ șȈȝȈȘȕȖȋȖ ȚȘȖșȚȕȐȒȈ ǶȕȈ ȖȉȓȈȌȈȍȚ ȕȈȐȔȍȕȤȠȍȑ ȔȖȓȍȒțȓȧȘȕȖȑ ȔȈșșȖȑ Ȑȏ Ȋșȍȝ ǨǵǨ ȐȔȍȍȚ ȊȣȘȈȎȍȕȕȣȑ ȥȒșȜȖȓȐȐȘțȦȡȐȑ ȥȜȜȍȒȚ țșȒȖȘȧȍȚ ȒȓȍȚȖȟȕȖȍ ȖȉȕȖȊȓȍȕȐȍ ȥȗȐȌȍȘȔȐșȈ țȔȍȕȤȠȈȍȚ șȐȕȚȍȏ ȔȍȓȈȕȐȕȈ ȚȍȔ șȈȔȣȔ șȗȖșȖȉșȚȊțȧ ȖșȊȍȚȓȍȕȐȦ ȒȖȎȐ ǰșșȓȍȌȖȊȈȕȐȧ ȗȖȒȈȏȈȓȐ ȟȚȖ ȗȘȐ ȍȎȍȌȕȍȊȕȖȔ ȐșȗȖȓȤȏȖȊȈȕȐȐ ȒȖșȔȍȚȐȟȍșȒȐȝ ȗȘȖȌțȒȚȖȊ 1HR6WUDWD® ș ȋȓȐȒȖȓȍȊȖȑ ȒȐșȓȖȚȖȑ ȗȖȘȣ ȖȟȐȡȈȦȚșȧ Ȑ șțȎȈȦȚșȧ ȊȖșșȚȈȕȈȊȓȐȊȈȍȚșȧ ȐȌȍȈȓȤȕȣȑ ȋȐȌȘȖȓȐȗȐȌȕȣȑ ȏȈȡȐȚȕȣȑ ȉȈȘȤȍȘ ȘȈȏȋȓȈȎȐȊȈȦȚșȧ ȔȍȓȒȐȍ ȔȖȘȡȐȕȣ Ȉ ȒȖȎȈ țȗȓȖȚȕȧȍȚșȧ Ȑ ȗȘȐȖȉȘȍȚȈȍȚ ȉȖȓȍȍ ȔȖȓȖȌȖȑ Ȑ ȏȌȖȘȖȊȣȑ ȊȐȌ ǹȗȍȞȐȈȓȤȕȖ ȘȈȏȘȈȉȖȚȈȕȕȣȍ ȈȔȜȖȚȍȘȕȣȍ ȒȖȔȗȓȍȒșȣ ȊȝȖȌȧȡȐȍ Ȋ șȖșȚȈȊ ȗȘȍȗȈȘȈȚȖȊ țȔȍȕȤȠȈȦȚ ȊȖȏȔȖȎȕȖșȚȤ ȗȖȧȊȓȍȕȐȧ ȒȘȈșȕȖȚȣ Ȑ ȎȎȍȕȐȧ ǳȐȔȖȕȕȈȧ ȒȐșȓȖȚȈ ± ȗȘȐȘȖȌȕȈȧ șȖșȚȈȊȓȧȦȡȈȧ ȞȐȚȘțșȖȊȣȝ ȧȊȓȧȍȚșȧ ȖȌȕȖȊȘȍȔȍȕȕȖ ȈȓȤȜȈ Ȑ ȉȍȚȈ ȋȐȌȘȖȒșȐȒȐșȓȖȚȖȑ ȖȉȓȈȌȈȍȚ ȔȖȡȕȣȔ ȈȕȚȐȖȒșȐȌȈȕȚȕȣȔ ȥȜȜȍȒȚȖȔ ǷȘȍȌȖȚȊȘȈȡȈȍȚ Ȑ ȒȖȘȘȍȒȚȐȘțȍȚ ȊȖȏȘȈșȚȕȣȍ ȐȏȔȍȕȍȕȐȧ țșȚȘȈȕȧȍȚ șȓȍȌȣ ȜȖȚȖșȚȈȘȍȕȐȧ Ȑ ȗȖȊȘȍȎȌȍȕȐȧ Ȋ ȘȍȏțȓȤȚȈȚȍ ȗȘȍȉȣȊȈȕȐȧ ȕȈ șȖȓȕȞȍ țȓțȟȠȈȍȚ ȒȈȟȍșȚȊȖ

ȥȓȈșȚȐȟȕȣȝ ȊȖȓȖȒȖȕ Ȑ țȊȍȓȐȟȐȊȈȍȚ ȒȖȓȐȟȍșȚȊȖ ȋȓȐȒȖȏȈȔȐȕȖȋȓȐȒȈȕȖȊ Ȋ ȒȖȎȍ ǲȖșȔȍȚȐȟȍșȒȐȍ șȘȍȌșȚȊȈ șȖȌȍȘȎȈȡȐȍ ȓȐȔȖȕȕțȦ ȒȐșȓȖȚț șȗȖșȖȉșȚȊțȦȚ ȘȈȏȋȓȈȎȐȊȈȕȐȦ ȔȍȓȒȐȝ ȔȖȘȡȐȕ ȊȖșșȚȈȕȖȊȓȍȕȐȦ ȚȖȕțșȈ Ȑ ȥȓȈșȚȐȟȕȖșȚȐ ǴȐȕȌȈȓȤȕȈȧ ȒȐșȓȖȚȈ ± ȓȐȗȖȜȐȓȤȕȈȧ ȈȓȤȜȈ ȋȐȌȘȖȒșȐȒȐșȓȖȚȈ ȖșȖȉȖ ȘȍȒȖȔȍȕȌțȍȚșȧ Ȍȓȧ ȎȐȘȕȖȑ ȒȖȎȐ ǩȓȈȋȖȌȈȘȧ șȊȖȐȔ ȈȕȚȐȉȈȒȚȍȘȐȈȓȤȕȣȔ șȊȖȑșȚȊȈȔ ȥȜȜȍȒȚȐȊȕȈ Ȍȓȧ ȓȍȟȍȕȐȧ țȋȘȍȊȖȑ șȣȗȐ ǲȈȒ Ȑ ȌȘțȋȐȍ ǨǵǨ ȔȐȕȌȈȓȤȕȈȧ ȒȐșȓȖȚȈ ȗȖȔȖȋȈȍȚ ȉȖȘȖȚȤșȧ șȖ șȚȈȘȍȕȐȍȔ ȒȖȎȐ ǬȖȒȈȏȈȕȖ ȟȚȖ ȒȖșȔȍȚȐȟȍșȒȐȍ șȘȍȌșȚȊȈ ȒȖȔȗȈȕȐȐ 1HR6WUDWD® ș ȔȐȕȌȈȓȤȕȖȑ ȒȐșȓȖȚȖȑ țȔȍȕȤȠȈȦȚ ȎȐȘȕȖșȚȤ ȒȖȎȐ Ȑ ȗȘȍȌțȗȘȍȎȌȈȦȚ ȖȉȘȈȏȖȊȈȕȐȍ ȈȒȕȍ ȕȍ ȊȣȏȣȊȈȧ ȍȍ șțȝȖșȚȐ ǫȓȦȒȖȕȖȓȈȒȚȖȕ ȖȚȕȖșȐȚșȧ Ȓ ȕȖȊȖȔț ȗȖȒȖȓȍȕȐȦ ȒȐșȓȖȚ ± ȗȖȓȐȋȐȌȘȖȒșȐȒȐșȓȖȚȈȔ ǸǵǨ ǫȓȦȒȖȕȖȓȈȒȚȖȕ ȖȉȕȈȘțȎȍȕ Ȋ ȍșȚȍșȚȊȍȕȕȖȔ șȖșȚȖȧȕȐȐ Ȋ ȒȖȎȍ ȅȚȈ ȗȖȓȐȋȐȌȘȖȒșȐȒȐșȓȖȚȈ ȕȍ ȚȖȓȤȒȖ ȕȍ ȊȣȏȣȊȈȍȚ ȘȈȏȌȘȈȎȍȕȐȧ ȕȖ Ȑ ȖȉȓȈȌȈȍȚ ȧȘȒȖ ȊȣȘȈȎȍȕȕȣȔȐ ȗȘȖȚȐȊȖȊȖșȗȈȓȐȚȍȓȤȕȣȔȐ

Ȑ ȈȕȚȐȖȒșȐȌȈȕȚȕȣȔȐ șȊȖȑșȚȊȈȔȐ ȗȖȌȝȖȌȐȚ Ȍȓȧ ȓȦȉȖȋȖ ȚȐȗȈ ȒȖȎȐ ȊȒȓȦȟȈȧ ȟțȊșȚȊȐȚȍȓȤȕțȦ Ȑ ȒȖȎț șȒȓȖȕȕțȦ Ȓ ȘȖȏȈȞȍȈ ǲȖșȔȍȚȐȟȍșȒȐȍ șȘȍȌșȚȊȈ ș ȋȓȦȒȖȕȖȓȈȒȚȖȕȖȔ ȘȍȒȖȔȍȕȌțȦȚșȧ Ȋ ȚȖȔ ȟȐșȓȍ Ȑ ȗȖșȓȍ ȗȘȖȊȍȌȍȕȐȧ ȒȖșȔȍȚȖȓȖȋȐȟȍșȒȐȝ ȗȘȖȞȍȌțȘ ǶȉȕȈȘțȎȍȕȈ șȗȖșȖȉȕȖșȚȤ ȋȓȦȒȖȕȖȓȈȒȚȖȕȈ țȊȍȓȐȟȐȊȈȚȤ ȉȈȘȤȍȘȕȣȍ ȜțȕȒȞȐȐ ȒȖȎȐ țȔȍȕȤȠȈȧ ȟțȊșȚȊȐȚȍȓȤȕȖșȚȤ Ȑ ȗȖȒȘȈșȕȍȕȐȧ ș ȚȍȟȍȕȐȍȔ ȊȘȍȔȍȕȐ ǴȖȓȍȒțȓȈ ȋȓȦȒȖȕȖȓȈȒȚȖȕȈ Ȋ ȕȍșȒȖȓȤȒȖ ȘȈȏ ȉȖȓȤȠȍ ȔȖȓȍȒțȓ ȈȓȤȜȈ ȋȐȌȘȖȒșȐȒȐș ȓȖȚ Ȑ șȖȌȍȘȎȐȚ ȔȕȖȎȍșȚȊȖ ȋȐȌȘȖȒșȐȓȤȕȣȝ ȋȘțȗȗ șȊȧȏȣȊȈȦȡȐȝ ȔȖȓȍȒțȓȣ ȊȖȌȣ ǩȓȈȋȖȌȈȘȧ ȥȚȖȔț ȋȓȦȒȖȕȖȓȈȒȚȖȕ Ȋ șȖșȚȈȊȍ ȒȖșȔȍȚȐȟȍșȒȐȝ șȘȍȌșȚȊ ȖȒȈȏȣȊȈȍȚ ȔȖȡȕȖȍ țȊȓȈȎȕȧȦ ȡȍȍ ȌȍȑșȚȊȐȍ ǲȖșȔȍȚȐȟȍșȒȐȍ șȘȍȌșȚȊȈ ș ȋȓȦȒȖȕȖȓȈȒȚȖȕȖȔ ± ȥȚȖ ȥȜȜȍȒȚȐȊȕȍȑȠȐȍ șȘȍȌșȚȊȈ Ȍȓȧ ȗȖșȚȗȐȓȐȕȋȖȊȖȋȖ țȝȖȌȈ ȗȘȐ ȥȚȖȔ ȖȕȐ șȖȝȘȈȕȧȦȚ Ȋșȍ ȖȔȖȓȈȎȐȊȈȦȡȐȍ

ǬǶ

ǲȖșȔȍȚȐȟȍșȒȐȍ șȘȍȌșȚȊȈ ș ȓȈȒȚȖȉȐȖȕȖȊȖȑ ȒȐșȓȖȚȖȑ șȗȖșȖȉșȚȊțȦȚ ȘȈȏȋȓȈȎȐȊȈȕȐȦ ȔȍȓȒȐȝ ȔȖȘȡȐȕ Ȑ șȒȓȈȌȖȒ ǸȍȒȖȔȍȕȌțȦȚșȧ Ȍȓȧ ǳȈȒȚȖȉȐȖȕȖȊȈȧ ȒȐșȓȖȚȈ ± ȟțȊșȚȊȐȚȍȓȤȕȖȑ Ȑ ȐȓȐ ȏȈȗȈȚȍȕȚȖȊȈȕȕȈȧ ȉȐȖȕȐȟȍșȒȈȧ ȗȖȊȘȍȎȌȍȕȕȖȑ ȒȖȎȐ ȗȖȓȐȋȐȌȘȖȒșȐȒȐșȓȖȚȈ ± ȖȌȕȖ Ȑȏ Ȉ ȚȈȒȎȍ Ȍȓȧ ȗȘȖȓȖȕȋȈȞȐȐ ȗȖșȓȍȌȕȐȝ ȌȖșȚȐȎȍȕȐȑ ȒȖȔȗȈȕȐȐ ȈȕȚȐȊȖȏȘȈșȚȕȣȝ ȥȜȜȍȒȚȖȊ 1HR6WUDWD® ȅȚț ȕȖȊțȦ șȓȖȎȕțȦ ȗȖșȓȍ ȗȘȖȞȍȌțȘ ȗȐȓȐȕȋȈ Ȑ ȓȈȏȍȘȕȖȑ ȠȓȐȜȖȊȒȐ ȗȖȓȐȋȐȌȘȖȒșȐȒȐșȓȖȚț ȗȖȓțȟȈȦȚ Ȑȏ ȕȈȚțȘȈȓȤȕȖȑ ȓȈȒȚȖȏȣ Ȑ ȋȓȦȒȖȕȖȊȖȑ ȒȐșȓȖȚȣ ǵȍȖȋȓȦȒȖȏȈȔȐȕ™ ± ǰȔȍȕȕȖ Ȋ ȘȈșȚȊȖȘȍ ȥȚȖȑ ȒȐșȓȖȚȣ ȏȈȗȈȚȍȕȚȖȊȈȕȕȣȑ ȝȘȈȕȧȚșȧ Ȑ ȚȘȈȕșȗȖȘȚȐȘțȦȚșȧ ȔȖȕȖșȈȝȈȘȐȌ Ȍȓȧ ȔȧȋȒȖȑ ȌȖȕȖȘșȒȐȍ ȖȘȋȈȕȣ ȥȒșȜȖȓȐȈȞȐȐ ȥȗȐȌȍȘȔȐșȈ Ȍȓȧ ȚȘȈȕșȗȓȈȕȚȈȞȐȐ Ȑ șȚȐȔțȓȧȞȐȐ ȒȓȍȚȖȟȕȖȋȖ ǳȈȒȚȖȉȐȖȕȖȊȈȧ ȒȐșȓȖȚȈ ȖȉȕȖȊȓȍȕȐȧ ǻȔȍȕȤȠȈȍȚ ȔȖȘȡȐȕȣ Ȑ șȗȖșȖȉșȚȊțȍȚ ȕȍ ȊȣȏȣȊȈȍȚ ȘȈȏȌȘȈȎȍȕȐȧ ȖșȊȍȚȓȍȕȐȦ ȗȐȋȔȍȕȚȕȣȝ Ȑ ȖȉȓȈȌȈȍȚ ȔȖȡȕȣȔȐ ȗȧȚȍȕ Ȑ ȗȖșȚȈȒȕȍ ȈȕȚȐȖȒșȐȌȈȕȚȕȣȔȐ ȊȣȘȈȊȕȐȊȈȍȚ ȚȖȕ ȒȖȎȐ Ȑ țȊȓȈȎȕȧȦȡȐȔȐ șȊȖȑșȚȊȈȔȐ ǵȍȖȋȓȦȒȖȏȈȔȐȕ™ ȚȈȒȎȍ ǴȖȓȍȒțȓȈ ȓȈȒȚȖȉȐȖȕȖȊȖȑ ȒȐșȓȖȚȣ ȈȒȚȐȊȕȖ ȗȘȐȚȧȋȐȊȈȍȚ ȧȊȓȧȍȚșȧ șȚȘȖȐȚȍȓȤȕȣȔ Ȑ ȗȘȖȟȕȖ țȌȍȘȎȐȊȈȍȚ ȊȖȌț ȉȓȖȒȖȔ Ȍȓȧ ȋȐȈȓțȘȖȕȖȊȖȑ ȖȉȘȈȏțȧ ȍșȚȍșȚȊȍȕȕȣȑ ȋȍȓȍȊȣȑ ȒȐșȓȖȚȣ ȗȘȐȌȈȊȈȧ ȔȈȚȘȐȒș ǶȉȓȈȌȈȍȚ țȕȐȒȈȓȤȕȖȑ ȗȘȍȗȈȘȈȚȈȔ ȐșȒȓȦȟȐȚȍȓȤȕȣȍ ȗȓȍȕȒȖȖȉȘȈȏțȦȡȍȑ ȓȐȜȚȐȕȋȖȊȣȍ șȊȖȑșȚȊȈ șȗȖșȖȉȕȖșȚȤȦ ȗȘȐȌȈȍȚ ȒȖȎȍ ȔȧȋȒȖșȚȤ Ȑ ȉȈȘȝȈȚȐșȚțȦ ȋȓȈȌȒȖșȚȤ Ȑ șȚȐȔțȓȐȘțȦȡȐȍ șȊȖȑșȚȊȈ ȈȓȤȜȈ ȋȐȌȘȖȒșȐȒȐșȓȖȚ ǹȘȍȌșȚȊȈ ș ȋȓȦȒȖȕȖȓȈȒȚȖȕȖȔ ȕȍ țȊȍȓȐȟȐȊȈȦȚ ȜȖȚȖȟțȊșȚȊȐȚȍȓȤȕȖșȚȤ ȒȖȎȐ

ǷǶǹǳǭ

ǹȖșȚȖȧȕȐȍ ȒȖȎȐ Ȋ ȘȍȏțȓȤȚȈȚȍ ȓȍȟȍȕȐȧ șȘȍȌșȚȊȈȔȐ ș ȓȈȒȚȖȉȐȖȕȖȊȖȑ ȒȐșȓȖȚȖȑ șȗțșȚȧ ȕȍȌȍȓȤ

The Science of Great Skin

Ⱦɥɹ ɭɞɨɛɫɬɜɚ ɫɩɟɰɢɚɥɢɫɬɨɜ ɢ ɤɥɢɟɧɬɨɜ ɭɩɚɤɨɜɤɚ ɪɚɡɥɢɱɧɵɯ ɫɟɪɢɣ ɩɪɟɩɚɪɚɬɨɜ ɨɬɥɢɱɚɟɬɫɹ ɩɨ ɰɜɟɬɭ ɜ ɡɚɜɢɫɢɦɨɫɬɢ ɨɬ ɫɨɫɬɚɜɚ ɩɪɨɰɟɧɬɧɨɝɨ ɫɨɞɟɪɠɚɧɢɹ ɤɢɫɥɨɬ ɢ ɪɟɤɨɦɟɧɞɚɰɢɣ ɩɨ ɩɪɢɦɟɧɟɧɢɸ Ɍɚɤɠɟ ɧɚ ɤɚɠɞɨɦ ɫɪɟɞɫɬɜɟ ɩɪɨɦɚɪɤɢɪɨɜɚɧɨ ɫɭɦɦɚɪɧɨɟ ɤɨɥɢɱɟɫɬɜɨ ɤɢɫɥɨɬ ɜɯɨɞɹɳɢɯ ɜ ɫɨɫɬɚɜ ɩɪɟɩɚɪɚɬɚ 5(685)$&( 5(6725(

ǪǶǹǹǺǨǵǶǪǳǭǵǰǭ ǰ ǯǨȁǰǺǨ 5(6725( ǹȘȍȌșȚȊȈ șȖȌȍȘȎȈȚ ȗȖȓȐȋȐȌȘȖȒșȐȒȐșȓȖȚȣ Ȑ ȉȐȖȕȐȟȍșȒȐȍ ȒȐșȓȖȚȣ ȖȉȓȈȌȈȦȚ ȈȕȚȐȖȒșȐȌȈȕȚȕȣȔ ȥȜȜȍȒȚȖȔ șȖȏȌȈȕȣ Ȍȓȧ ȗȈȞȐȍȕȚȖȊ ș ȟțȊșȚȊȐȚȍȓȤȕȖȑ ȒȖȎȍȑ șȒȓȖȕȕȖȑ Ȓ ȘȖȏȈȞȍȈ ǰȌȍȈȓȤȕȖ ȐșȗȖȓȤȏȖȊȈȕȐȍ ȌȈȕȕȣȝ șȘȍȌșȚȊ ȗȖșȓȍ ȗȘȖȊȍȌȍȕȐȧ ȒȖșȔȍȚȖȓȖȋȐȟȍșȒȐȝ ȗȘȖȞȍȌțȘ Ƕǿǰȁǭǵǰǭ ǰ ǪǶǹǹǺǨǵǶǪǳǭǵǰǭ ǮǰǸǵǶǱ ǲǶǮǰ 5(),1( ǹȘȍȌșȚȊȈ șȖȌȍȘȎȈȚ ȈȓȤȜȈ Ȑ ȗȖȓȐȋȐȌȘȖȒșȐȒȐșȓȖȚȣ Ȉ ȚȈȒȎȍ 1HR*OXFRVDPLQH™ ǶȒȈȏȣȊȈȦȚ ȔȖȡȕȖȍ ȈȕȚȐȊȖȏȘȈșȚȕȖȍ ȊȖȏȌȍȑșȚȊȐȍ ȕȈ ȎȐȘȕțȦ ȒȖȎț țșȚȘȈȕȧȦȚ ȚȈȒȐȍ ȒȖșȔȍȚȖȓȖȋȐȟȍșȒȐȍ ȗȘȖȉȓȍȔȣ ȒȈȒ ȘȈșȠȐȘȍȕȕȣȍ ȗȖȘȣ ȋȐȗȍȘȗȐȋȔȍȕȚȈȞȐȧ șȓȍȌȣ ȖȚ ȈȒȕȍ țȔȍȕȤȠȈȦȚ ȐȏȓȐȠȕȐȑ ȎȐȘȕȣȑ ȉȓȍșȒ ǹȘȍȌșȚȊȈ 5H¿QH ȚȈȒȎȍ șȗȖșȖȉșȚȊțȦȚ ȘȈȏȋȓȈȎȐȊȈȕȐȦ ȔȍȓȒȐȝ Ȑ ȋȓțȉȖȒȐȝ ȔȖȘȡȐȕ

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ǪȃǸǨǪǵǰǪǨǵǰǭ ǺǭǲǹǺǻǸȃ ǲǶǮǰ 5(685)$&( ǹȘȍȌșȚȊȈ șȖȌȍȘȎȈȚ ȈȓȤȜȈ ȋȐȌȘȖȒșȐȒȐșȓȖȚȣ ǰȌȍȈȓȤȕȣ Ȍȓȧ ȗȈȞȐȍȕȚȖȊ ș ȕȖȘȔȈȓȤȕȖȑ ȒȖȎȍȑ ȕȖ ș ȗȖȊȘȍȎȌȍȕȕȖȑ ȚȍȒșȚțȘȖȑ Ȋ ȘȍȏțȓȤȚȈȚȍ ȍșȚȍșȚȊȍȕȕȖȋȖ șȚȈȘȍȕȐȧ Ȉ ȐȔȍȕȕȖ ȕȍȘȖȊȕȣȑ ȚțșȒȓȣȑ ȞȊȍȚ ȓȐȞȈ țȊȍȓȐȟȍȕȕȣȍ ȗȖȘȣ ȒȖȔȍȌȖȕȣ ȗȖȊȍȘȝȕȖșȚȕȣȍ Ȑ ȋȓțȉȖȒȐȍ ȔȖȘȡȐȕȣ ǸȍȒȖȔȍȌțȦȚșȧ Ȍȓȧ ȗȘȖȜȐȓȈȒȚȐȒȐ Ȑ ȒȖȘȘȍȒȞȐȐ ȗȘȐȏȕȈȒȖȊ ȜȖȚȖ Ȑ ȝȘȖȕȖ șȚȈȘȍȕȐȧ ȒȖȎȐ ȒȈȒ ȏȕȈȒȖȔșȚȊȖ ș ȒȐșȓȖȚȈȔȐ Ȑ ȗȍȘȊȣȑ ȠȈȋ Ȋ ȒȖȘȘȍȒȞȐȐ ȘȍȓȤȍȜȈ ȒȖȎȐ Ȑ ȖșȊȍȚȓȍȕȐȐ

5(),1(

ǹǷǭǾǰǨǳȄǵȃǭ ǹǸǭǬǹǺǪǨ ǰǵǺǭǵǹǰǪǵǶǫǶ ǬǭǱǹǺǪǰȇ 7$5*(7(' 75($70(17 ǹȘȍȌșȚȊȈ ȕȈȗȘȈȊȓȍȕȣ ȕȈ ȚȍȘȈȗȐȦ șȗȍȞȐȜȐȟȍșȒȐȝ ȗȘȖȉȓȍȔ ȚȈȒȐȝ ȒȈȒ ȚȍȔȕȣȍ ȒȘțȋȐ ȗȖȌ ȋȓȈȏȈȔȐ ȋȐȗȍȘȗȐȋȔȍȕȚȈȞȐȧ ȗȈȚȖȓȖȋȐȟȍșȒȈȧ șțȝȖșȚȤ ȒȖȎȐ ǶȕȐ șȗȖșȖȉȕȣ ȒȖȘȘȍȒȚȐȘȖȊȈȚȤ ȐȕȌȐȊȐȌțȈȓȤȕȣȍ ȓȖȒȈȓȤȕȣȍ ȗȘȖȉȓȍȔȣ Ȑ ȧȊȓȧȦȚșȧ ȌȖȗȖȓȕȍȕȐȍȔ Ȓ ȍȎȍȌȕȍȊȕȣȔ ȗȘȍȗȈȘȈȚȈȔ ȌȖȔȈȠȕȍȋȖ țȝȖȌȈ ȀȐȘȖȒȖ ȗȘȐȔȍȕȧȦȚșȧ ȊȘȈȟȈȔȐ ȌȍȘȔȈȚȖȓȖȋȈȔȐ Ȍȓȧ ȚȍȘȈȗȐȐ șȍȉȖȘȍȐ ȚȧȎȍȓȣȝ ȜȖȘȔ ȗȐȋȔȍȕȚȈȞȐȐ ȒțȗȍȘȖȏȈ țȋȘȍȊȖȑ ȉȖȓȍȏȕȐ ȗșȖȘȐȈȏȈ Ȑ Ȑȕȣȝ ȠȍȓțȠȈȡȐȝșȧ ȌȍȘȔȈȚȖȏȖȊ Ƿǰǳǰǵǫǰ 3((/6 ǹȘȍȌșȚȊȈ Ȍȓȧ ȗȘȖȊȍȌȍȕȐȧ ȗȘȖȞȍȌțȘȣ ȋȓȐȒȖȓȍȊȖȋȖ ȗȐȓȐȕȋȈ ȘȈȏȓȐȟȕȣȝ ȗȘȖȞȍȕȚȕȣȝ ȒȖȕȞȍȕȚȘȈȞȐȑ ȕȈ ȖșȕȖȊȍ șȊȖȉȖȌȕȖȑ ȋȓȐȒȖȓȍȊȖȑ ȒȐșȓȖȚȣ 1(2675$7$ 6.,1 5(-89(1$7,21 6<67(0 656 ǺȖȓȤȒȖ Ȍȓȧ ȗȘȖȜȍșșȐȖȕȈȓȤȕȖȋȖ ȐșȗȖȓȤȏȖȊȈȕȐȧ

5(685)$&(

ȅȚȐ șȘȍȌșȚȊȈ șȖȌȍȘȎȈȚ ȈȓȤȜȈ ȋȐȌȘȖȒșȐȒȐșȓȖȚȣ $+$ ȒȖȚȖȘȣȍ ȖȒȈȏȣȊȈȦȚ ȊȖȏȌȍȑșȚȊȐȍ ȕȈ ȊȍȘȝȕȐȍ șȓȖȐ ȒȖȎȐ ȐȓȐ ȥȗȐȌȍȘȔȐș $+$ șȗȖșȖȉșȚȊțȦȚ ȘȈȏȘțȠȍȕȐȦ șȚȈȘȣȝ șȊȧȏȍȑ ȔȍȎȌț ȒȓȍȚȒȈȔȐ ȒȖȎȐ ȊȖșșȚȈȕȈȊȓȐȊȈȧ șȒȖȘȖșȚȤ ȖȉȕȖȊȓȍȕȐȧ ȥȗȐȌȍȘȔȐșȈ ȒȖȚȖȘȈȧ ȏȈȔȍȌȓȧȍȚșȧ ș ȊȖȏȘȈșȚȖȔ ǺȈȒȎȍ ȗȘȖȐșȝȖȌȐȚ șȚȐȔțȓȧȞȐȧ șȐȕȚȍȏȈ ȒȖȓȓȈȋȍȕȖȊȣȝ ȊȖȓȖȒȖȕ Ȋ ȌȍȘȔȍ Ȑ ȈȕȚȐȖȒșȐȌȈȕȚȕȈȧ ȏȈȡȐȚȈ ȔȣȠȍȟȕȣȝ ȊȖȓȖȒȖȕ ȖȚ ȘȈȏȘțȠȍȕȐȧ ȉȓȈȋȖȌȈȘȧ ȟȍȔț ȒȖȎȈ șȚȈȕȖȊȐȚșȧ ȉȖȓȍȍ țȗȘțȋȖȑ ȔȖȓȖȌȖȑ Ȑ ȥȓȈșȚȐȟȕȖȑ

ǪȃǸǨǪǵǰǪǨǵǰǭ ǺǭǲǹǺǻǸȃ ǲǶǮǰ

ǷǶǬǫǶǺǶǪǲǨ ǷȍȕȒȈ Ȍȓȧ țȔȣȊȈȕȐȧ

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ǨȘȚȐȒțȓ # ȜȓȈȒȖȕ ș ȗȖȔȗȖȑ Ȕȓ ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȋȓȐȒȖȓȍȊȖȑ Ȑ ȓȈȒȚȖȉȐȖȕȖȊȖȑ ȒȐșȓȖȚ

ǪȃǸǨǪǵǰǪǨǵǰǭ ǺǭǲǹǺǻǸȃ ǲǶǮǰ

ǶȟȐȡȈȦȡȍȍ șȘȍȌșȚȊȖ șȖȌȍȘȎȐȚ ȈȔȜȖȚȍȘȕȣȑ ȒȖȔȗȓȍȒș Ȍȓȧ șȖȝȘȈȕȍȕȐȧ ȔȈȒșȐȔȈȓȤȕȖȑ ȥȜȜȍȒȚȐȊȕȖșȚȐ ȋȓȐȒȖȓȍȊȖȑ Ȑ ȓȈȒȚȖȉȐȖȕȖȊȖȑ ȒȐșȓȖȚ ǵȍ ȊȣȏȣȊȈȍȚ ȘȈȏȌȘȈȎȍȕȐȍ ȒȖȎȐ ǴȧȋȒȖ ȖȚȠȍȓțȠȐȊȈȍȚ ȖȟȐȡȈȍȚ ȏȈȒțȗȖȘȍȕȕȣȍ ȗȖȘȣ șȚȐȔțȓȐȘțȍȚ ȒȓȍȚȖȟȕȖȍ ȖȉȕȖȊȓȍȕȐȍ Ȑ ȋȖȚȖȊȐȚ ȒȖȎț Ȍȓȧ ȗȖșȓȍȌțȦȡȐȝ ȗȘȖȞȍȌțȘ ǸȍȒȖȔȍȕȌțȍȚșȧ Ȍȓȧ ȗȖȌȋȖȚȖȊȒȐ ȒȖȎȐ Ȓ ȗȘȖȞȍȌțȘȍ ȝȐȔȐȟȍșȒȖȋȖ ȗȐȓȐȕȋȈ S+ ȕȍȑȚȘȈȓȤȕȖ ǵȍ ȘȍȒȖȔȍȕȌȖȊȈȕȖ Ȍȓȧ ȗȈȞȐȍȕȚȖȊ ș ȟțȊșȚȊȐȚȍȓȤȕȖȑ ȒȖȎȍȑ ǵȍ șȖȌȍȘȎȐȚ ȔȣȓȈ Ȑ ȖȚȌțȠȍȒ

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ǬȕȍȊȕȖȑ șȔȧȋȟȈȦȡȐȑ ȒȘȍȔ 63)

1HR6WUDWD 8OWUD 'D\WLPH 6PRRWKLQJ &UHDP 63)

ǨȘȚȐȒțȓ ȚțȉȈ ȋ ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȋȓȐȒȖȓȍȊȖȑ ȓȐȔȖȕȕȖȑ ȒȐșȓȖȚȣ șȖȓȕȞȍȏȈȡȐȚȕȣȍ ȜȐȓȤȚȘȣ 89$ 89% ȊȐȚȈȔȐȕ ( ǬȕȍȊȕȖȑ țȊȓȈȎȕȧȦȡȐȑ ȒȘȍȔ ș ȔȧȋȒȐȔ ȖȚȠȍȓțȠȐȊȈȦȡȐȔ ȥȜȜȍȒȚȖȔ ȖȉȍșȗȍȟȐȊȈȍȚ ȏȈȡȐȚț ȖȚ ȠȐȘȖȒȖȋȖ șȗȍȒȚȘȈ șȖȓȕȍȟȕȣȝ ȓțȟȍȑ ǹȖȟȍȚȈȕȐȍ ȈȓȤȜȈ ȋȐȌȘȖȒșȐȒȐșȓȖȚ ȒȖȘȘȍȒȚȐȘțȍȚ ȊȐȌȐȔȣȍ ȗȘȐȏȕȈȒȐ șȚȈȘȍȕȐȧ Ȋ ȚȍȟȍȕȐȍ Ȍȕȧ ȖȉȍșȗȍȟȐȊȈȍȚ ȉȖȓȍȍ ȋȓȈȌȒțȦ ȚȍȒșȚțȘț ȒȖȎȐ ȘȖȊȕȣȑ ȞȊȍȚ ȓȐȞȈ țȓțȟȠȍȕȐȍ ȚțȘȋȖȘȈ ȒȖȎȐ ȖȒȈȏȣȊȈȍȚ ȖȔȖȓȈȎȐȊȈȦȡȍȍ ȌȍȑșȚȊȐȍ ǳȍȋȒȈȧ ȚȍȒșȚțȘȈ ȉȍȏ ȗȈȘȈȉȍȕȖȊ ȉȍȏ ȖȚȌțȠȍȒ ȕȍ ȏȈȒțȗȖȘȐȊȈȍȚ ȗȖȘȣ

ǪǶǹǹǺǨǵǶǪǳǭǵǰǭ ǹȔȧȋȟȈȦȡȐȑ ȒȘȍȔ

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ǫȓȈȌȒȖșȚȤ

ǷȓȖȚȕȖșȚȤ ǪȣȘȈȊȕȐȊȈȕȐȍ ǹȐȧȕȐȍ ȚȖȕȈ

ǲȓȐȕȐȟȍșȒȐ țșȚȈȕȖȊȓȍȕȕȖȍ țȓțȟȠȍȕȐȍ șȖșȚȖȧȕȐȧ ȒȖȎȐ Ȋ ȗȖșȓȍ ȕȍȌȍȓȤ ȗȘȐȔȍȕȍȕȐȧ șȘȍȌșȚȊ ș ǨǵǨ ȒȐșȓȖȚȈȔȐ

ǸȈȏȋȓȈȎȐȊȈȦȡȐȑ ȈȕȚȐȖȒșȐȌȈȕȚȕȣȑ ȒȘȍȔ Ȍȓȧ ȓȐȞȈ 1HR6WUDWD 8OWUD 6PRRWKLQJ &UHDP ȗȖȌȝȖȌȐȚ Ȍȓȧ Ȋșȍȝ ȚȐȗȖȊ ȒȖȎȐ Ȉ ȚȈȒȎȍ Ȍȓȧ Țȍȝ ȒȚȖ ȊȗȍȘȊȣȍ ȘȍȠȐȓ ȐșȗȘȖȉȖȊȈȚȤ șȘȍȌșȚȊȈ ș ǨǵǨ ǷȘȐȔȍȕȧȍȚșȧ Ȍȓȧ ȊȣȘȈȊȕȐȊȈȕȐȧ ȗȖȊȍȘȝȕȖșȚȕȣȝ șȓȖȍȊ ȒȖȎȐ țȊȓȈȎȕȍȕȐȧ Ȑ ȒȖȘȘȍȒȞȐȐ ȗȘȐȏȕȈȒȖȊ ȜȖȚȖșȚȈȘȍȕȐȧ ǵȍ șȖȌȍȘȎȐȚ ȔȈșȍȓ Ȑ ȖȚȌțȠȍȒ ǵȍȒȖȔȍȌȖȋȍȕȍȕ

ǪǶǹǹǺǨǵǶǪǳǭǵǰǭ ǹȔȧȋȟȈȦȡȐȑ ȓȖșȤȖȕ

1HR6WUDWD 8OWUD 6PRRWKLQJ /RWLRQ

ǨȘȚȐȒțȓ ȜȓȈȒȖȕ Ȕȓ ǳȍȋȒȈȧ ȜȖȘȔțȓȈ ȜȓȦȐȌȈ șȗȖșȖȉșȚȊțȍȚ ȖȉȕȖȊȓȍȕȐȦ ȒȓȍȚȖȒ țȊȓȈȎȕȧȍȚ țȔȍȕȤȠȈȍȚ ȔȖȘȡȐȕȣ ǹȖȟȍȚȈȕȐȍ ȈȓȤȜȈ ȋȐȌȘȖȒșȐȒȐșȓȖȚ ȐȌȍȈȓȤȕȖ ȗȖȌȝȖȌȐȚ Ȍȓȧ ȕȖȘȔȈȓȤȕȖȑ Ȑ șȔȍȠȈȕȕȖȑ ȒȖȎȐ țȓțȟȠȈȍȚ ȍȍ ȚȍȒșȚțȘț ǹȖȌȍȘȎȐȚ ȈȔȜȖȚȍȘȕȣȑ ȒȖȔȗȓȍȒș Ȍȓȧ șȔȧȋȟȍȕȐȧ ȌȍȑșȚȊȐȧ ȒȐșȓȖȚ ǸȍȒȖȔȍȕȌțȍȚșȧ Ȍȓȧ ȊȖșșȚȈȕȖȊȓȍȕȐȧ Ȑ ȖȔȖȓȖȎȍȕȐȧ ȒȖȎȐ ȉȍȌȍȘ ȧȋȖȌȐȞ ȗȓȍȟ ȗȖȌȔȣȠȍȟȕȣȝ ȊȗȈȌȐȕ ȕȖȋ ǵȍ șȖȌȍȘȎȐȚ ȖȚȌțȠȍȒ

ǪǶǹǹǺǨǵǶǪǳǭǵǰǭ ǲȘȍȔ Ȍȓȧ ȓȐȞȈ 3OXV ǰȕȚȍȕșȐȊȕȣȑ țȝȖȌ ȗȘȖȌȊȐȕțȚȣȑ țȘȖȊȍȕȤ

1HR6WUDWD )DFH &UHDP SOXV

ǨȒȚȐȒțȓ ȚțȉȈ ȋ ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȋȓȐȒȖȓȍȊȖȑ ȒȐșȓȖȚȣ ǲȘȍȔ Ȍȓȧ ȓȐȞȈ ȐȕȚȍȕșȐȊȕȖȋȖ ȌȍȑșȚȊȐȧ ș ȖȚȠȍȓțȠȐȊȈȦȡȐȔ Ȑ șȔȧȋȟȈȦȡȐȔ ȥȜȜȍȒȚȈȔȐ ȗȘȍȌȕȈ ȏȕȈȟȍȕ Ȍȓȧ țȝȖȌȈ ȏȈ ȒȖȎȍȑ ȓȐȞȈ Ȑ ȠȍȐ ș ȊȣȘȈȎȍȕȕȣȔȐ ȗȘȐȏȕȈȒȈȔȐ ȜȖȚȖșȚȈȘȍȕȐȧ ȘȈșȠȐȘȍȕ ȕȣȔȐ ȗȖȘȈȔȐ ȋȐȗȍȘȒȍȘȈȚȖȏȖȔ Ȑ ȚțșȒȓȣȔ ȞȊȍȚȖȔ ȅȚȖȚ ȗȘȍȗȈȘȈȚ ș ȊȣșȖȒȐȔ șȖȌȍȘȎȈȕȐȍȔ ǨǵǨ ȗȖȒȈȏȈȕ ȗȈȞȐȍȕȚȈȔ ȚȖȓȍȘȈȕȚȕȣȔ Ȓ ȋȓȐȒȖȓȍȊȖȑ ȒȐșȓȖȚȍ

ǪǶǹǹǺǨǵǶǪǳǭǵǰǭ ǳȖșȤȖȕ 3OXV ǰȕȚȍȕșȐȊȕȣȑ țȝȖȌ ȗȘȖȌȊȐȕțȚȣȑ țȘȖȊȍȕȤ

1HR6WUDWD /RWLRQ SOXV

ǨȘȚȐȒțȓ ȜȓȈȒȖȕ ș ȌȖȏȈȚȖȘȖȔ Ȕȓ

ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȋȓȐȒȖȓȍȊȖȑ ȒȐșȓȖȚȣ ǼȓȦȐȌ ȐȕȚȍȕșȐȊȕȖȋȖ ȌȍȑșȚȊȐȧ ș ȖȚȠȍȓțȠȐȊȈȦȡȐȔ ȥȜȜȍȒȚȖȔ ȐȔȍȍȚ ȒȖȔȜȖȘȚȕțȦ ȓȍȋȒțȦ ȒȖȕșȐșȚȍȕȞȐȦ ǷȘȍȌȕȈȏȕȈȟȍȕ Ȍȓȧ țȔȍȕȤȠȍȕȐȧ ȊȐȌȐȔȣȝ ȗȘȐȏȕȈȒȖȊ șȚȈȘȍȕȐȧ ȊȣȘȈȊȕȐȊȈȕȐȧ ȚȖȕȈ Ȑ țȓțȟȠȍȕȐȧ ȚȍȒșȚțȘȣ ȒȖȎȐ ȓȐȞȈ Ȑ ȚȍȓȈ ǸȍȒȖȔȍȕȌțȍȚșȧ ȒȈȒ ȗȘȖȜȐȓȈȒȚȐȟȍșȒȖȍ șȘȍȌșȚȊȖ ȗȘȖȚȐȊ ȊȘȈșȚȈȕȐȧ ȊȖȓȖș ȗȖșȓȍ ȥȗȐȓȧȞȐȐ ǵȍ șȖȌȍȘȎȐȚ ȖȚȌțȠȍȒ

ǪǶǹǹǺǨǵǶǪǳǭǵǰǭ ǲȘȍȔ Ȍȓȧ ȓȐȞȈ +LJK 3RWHQF\ ǰȕȚȍȕșȐȊȕȣȑ țȝȖȌ ȗȘȖȌȊȐȕțȚȣȑ țȘȖȊȍȕȤ

1HR6WUDWD +LJK 3RWHQF\ &UHDP

ǨȘȚȐȒțȓ ȜȓȈȒȖȕ ș ȌȖȏȈȚȖȘȖȔ ȋ ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȋȓȐȒȖȓȍȊȖȑ Ȑ ȓȈȒȚȖȉȐȖȕȖȊȖȑ ȒȐșȓȖȚ ȊȐȚȈȔȐȕ ǭ ǶȌȕȖ Ȑȏ șȈȔȣȝ ȐȕȚȍȕșȐȊȕȣȝ ȗȘȖȚȐȊȖȊȖȏȘȈșȚȕȣȝ șȘȍȌșȚȊ Ȍȓȧ ȒȓȐȍȕȚȖȊ țȎȍ ȐșȗȖȓȤȏȖȊȈȊȠȐȝ șȘȍȌșȚȊȈ ș ǨǵǨ ȊȣȘȈȊȕȐȊȈȍȚ ȚȍȒșȚțȘț ȒȖȎȐ Ȑ ȖȉȓȈȌȈȍȚ ȊȣȘȈȎȍȕȕȣȔȐ ȓȐȜȚȐȕȋȖȊȣȔȐ șȊȖȑșȚȊȈȔȐ ǷȘȍȌȕȈȏȕȈȟȍȕ Ȍȓȧ țȊȧȌȈȦȡȍȑ ȒȖȎȐ ș ȋȐȗȍȘȒȍȘȈȚȖȏȖȔ ȗȘȐȏȕȈȒȈȔȐ ȥȓȈșȚȖȏȈ ȔȖȘȡȐȕȈȔȐ Ȑ ȗȖȚȍȘȍȑ ȖȉȡȍȋȖ ȚȖȕțșȈ

ǪȃǸǨǪǵǰǪǨǵǰǭ ǺǭǲǹǺǻǸȃ ǲǶǮǰ

ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȋȓȐȒȖȓȍȊȖȑ ȓȐȔȖȕȕȖȑ ȒȐșȓȖȚȣ

ǪǶǹǹǺǨǵǶǪǳǭǵǰǭ ǰ ǯǨȁǰǺǨ

ǹȘȍȌșȚȊȈ țȝȖȌȈ ȏȈ ȒȖȎȍȑ 5HVWRUH ȖȉȓȈȌȈȦȚ ȔȖȡȕȣȔ ȈȕȚȐȖȒșȐȌȈȕȚȕȣȔ ȊȖȏȌȍȑșȚȊȐȍȔ ȕȈ ȒȖȎț ȓȦȉȖȋȖ ȚȐȗȈ ȊȒȓȦȟȈȧ ȗȈȞȐȍȕȚȖȊ ș ȟțȊșȚȊȐȚȍȓȤȕȖȑ ȒȖȎȍȑ ȈȚȖȗȐȟȍșȒȐȔ ȌȍȘȔȈȚȐȚȖȔ ȐȓȐ ș ȘȖȏȈȞȍȈ ȒȖȚȖȘȣȍ ȟȈșȚȖ ȕȍ ȔȖȋțȚ ȗȖȓȤȏȖȊȈȚȤșȧ ȈȕȚȐȊȖȏȘȈșȚȕȣȔȐ șȘȍȌșȚȊȈȔȐ ǰȌȍȈȓȤȕȣ Ȍȓȧ ȗȈȞȐȍȕȚȖȊ ȒȖȚȖȘȣȍ ȝȖȚȧȚ ȗȘȖȌȖȓȎȐȚȤ ȐȓȐ țșȐȓȐȚȤ ȊȖȏȌȍȑșȚȊȐȍ ȒȖșȔȍȚȖȓȖȋȐȟȍșȒȐȝ ȗȘȖȞȍȌțȘ Ǫ șȖșȚȈȊ șȘȍȌșȚȊ ȊȝȖȌȧȚ ȗȖȓȐȋȐȌȘȖȒșȐȒȐșȓȖȚȣ ± ȋȓȦȒȖȕȖȓȈȒȚȖȕ Ȑ ȓȈȒȚȖȉȐȖȕȖȊȈȧ ȒȐșȓȖȚȈ ȒȖȚȖȘȣȍ ȊȖșșȚȈȕȈȊȓȐȊȈȦȚ ȏȈȡȐȚȕȣȑ ȉȈȘȤȍȘ ȒȖȎȐ țȔȍȕȤȠȈȦȚ ȘȈȏȌȘȈȎȍȕȐȍ Ȑ ȋȐȗȍȘȍȔȐȦ ǰȌȍȈȓȤȕȣ Ȍȓȧ ȐșȗȖȓȤȏȖȊȈȕȐȧ ȗȖșȓȍ ȗȘȖȞȍȌțȘ ȗȐȓȐȕȋȈ ȋȓȐȒȖȓȍȊȖȑ ȒȐșȓȖȚȖȑ ȕȍȈȉȓȧȞȐȖȕȕȖȑ ȓȈȏȍȘȕȖȑ ȠȓȐȜȖȊȒȐ Ȑ ȔȐȒȘȖȌȍȘȔȈȉȘȈȏȐȐ ǷȘȐ ȘȍȋțȓȧȘȕȖȔ ȐșȗȖȓȤȏȖȊȈȕȐȐ ȗȘȍȗȈȘȈȚȖȊ ȌȈȕȕȖȑ ȓȐȕȐȐ ȥȜȜȍȒȚ ȖȚ ȒȖșȔȍȚȖȓȖȋȐȟȍșȒȐȝ ȗȘȖȞȍȌțȘ ȗȘȖȓȖȕȋȐȘțȍȚșȧ

ǪǶǹǹǺǨǵǶǪǳǭǵǰǭ ǰ ǯǨȁǰǺǨ

5(6725(

ǷǶǬǫǶǺǶǪǲǨ ǶȟȐȡȈȦȡȍȍ șȘȍȌșȚȊȖ Ȍȓȧ ȓȐȞȈ ș ȋȓȦȒȖȕȖȓȈȒȚȖȕȖȔ

1HR6WUDWD )DFLDO &OHDQVHU

ǨȘȚȐȒțȓ ȜȓȈȒȖȕ Ȕȓ

ǪǶǹǹǺǨǵǶǪǳǭǵǰǭ ǰ ǯǨȁǰǺǨ

ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȋȓȦȒȖȕȖȓȈȒȚȖȕȈ ǶȟȐȡȈȦȡȍȍ șȘȍȌșȚȊȖ Ȍȓȧ Ȋșȍȝ ȚȐȗȖȊ ȒȖȎȐ ș ȔȧȋȒȐȔ ȖȚȠȍȓțȠȐȊȈȦȡȐȔ ȥȜȜȍȒȚȖȔ ȚȡȈȚȍȓȤȕȖ ȖȟȐȡȈȍȚ ȒȖȎț Ȑ țȌȈȓȧȍȚ ȔȈȒȐȧȎ ȕȍ ȕȈȘțȠȈȧ țȘȖȊȍȕȤ S+ ǶșȖȉȖ ȘȍȒȖȔȍȕȌțȍȚșȧ Ȍȓȧ ȟțȊșȚȊȐȚȍȓȤȕȖȑ ȒȖȎȐ ȓȐȞȈ Ȑ Ȍȓȧ ȊȖșșȚȈȕȖȊȓȍȕȐȧ ȗȖȊȘȍȎȌȍȕȕȖȑ ȒȖȎȐ Ȋ ȗȘȖȞȍșșȍ ȗȘȖȜȍșșȐȖȕȈȓȤȕȣȝ ȗȘȖȞȍȌțȘ ± ȗȐȓȐȕȋȖȊ ± ȔȐȒȘȖȠȓȐȜȖȊȖȒ ± ȓȈȏȍȘȕȖȋȖ ȊȖȏȌȍȑșȚȊȐȧ ǵȍ șȖȌȍȘȎȐȚ ȔȈșȍȓ Ȑ ȔȣȓȈ ǫȐȗȖȈȓȓȍȘȋȍȕȕȖ

ǬǶ

ǷǶǹǳǭ

ǶșȊȍȚȓȍȕȐȍ ȚȖȕȈ ȒȖȎȐ ȗȖșȓȍ ȕȍȌȍȓȤ ȐșȗȖȓȤȏȖȊȈȕȐȧ ȖȟȐȡȈȦȡȍȋȖ șȘȍȌșȚȊȈ ș ȋȓȦȒȖȕȖȓȈȒȚȖȕȖȔ

ǯǨȁǰǺǨ ǬȕȍȊȕȖȑ ȏȈȡȐȚȕȣȑ ȒȘȍȔ 63)

1HR6WUDWD 'D\WLPH 3URWHFWLRQ &UHDP 63)

ǨȘȚȐȒțȓ ȚțȉȈ ȋ ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȋȓȦȒȖȕȖȓȈȒȚȖȕȈ ȓȈȒȚȖȉȐȖȕȖȊȖȑ ȒȐșȓȖȚȣ ȊȐȚȈȔȐȕ ǭ șȖȓȕȞȍȏȈȡȐȚȕȣȍ ȜȐȓȤȚȘȣ 89$ 89% ǵȍȎȐȘȕȣȑ ȌȕȍȊȕȖȑ țȊȓȈȎȕȧȦȡȐȑ ȒȘȍȔ ș 63) ȖȉȍșȗȍȟȐȊȈȍȚ ȏȈȡȐȚț ȖȚ ȠȐȘȖȒȖȋȖ șȗȍȒȚȘȈ șȖȓȕȍȟȕȣȝ ȓțȟȍȑ ǴȖȡȕȣȍ ȈȕȚȐȖȒșȐȌȈȕȚȣ ȋȓȦȒȖȕȖȓȈȒȚȖȕ 21 Ȑ ȓȈȒȚȖȉȐȖȕȖȊȈȧ ȒȐșȓȖȚȈ ȉȖȘȦȚșȧ șȖ șȊȖȉȖȌȕȣȔȐ ȘȈȌȐȒȈȓȈȔȐ ȖȌȕȖȊȘȍȔȍȕȕȖ țȊȍȓȐȟȐȊȈȧ ȗȘȖȐȏȊȖȌșȚȊȖ ǫȓȈȌȒȖșȚȤ ǷȓȖȚȕȖșȚȤ ǺȖȕȒȐȍ ǹȐȧȕȐȍ ȥȓȈșȚȐȕȈ Ȋ ȒȖȎȍ Ǫ ȘȍȏțȓȤȚȈȚȍ ȒȖȎȈ șȚȈȕȖȊȐȚșȧ ȔȖȘȡȐȕȣ ȔȖȓȖȌȖȑ Ȑ șȐȧȦȡȍȑ ǲȓȐȕȐȟȍșȒȐ țșȚȈȕȖȊȓȍȕȕȖȍ țȓțȟȠȍȕȐȍ șȖșȚȖȧȕȐȧ ǷȖȌȝȖȌȐȚ Ȍȓȧ ȒȖȎȐ ȓȦȉȖȋȖ ȚȐȗȈ ȒȖȎȐ Ȋ ȗȖșȓȍ ȕȍȌȍȓȤ ȗȘȐȔȍȕȍȕȐȧ ǩȍȏ ȖȚȌțȠȍȒ ȉȍȏ ȗȈȘȈȉȍȕȖȊ ȕȍȒȖȔȍȌȖȋȍȕȍȕ șȘȍȌșȚȊ ș 3+$ ȒȐșȓȖȚȈȔȐ

ǪǶǹǹǺǨǵǶǪǳǭǵǰǭ

ǻȓȤȚȘȈ țȊȓȈȎȕȧȦȡȐȑ ȒȘȍȔ Ȍȓȧ ȓȐȞȈ

1HR6WUDWD 8OWUD 0RLVWXUL]LQJ )DFH &UHDP

ǨȘȚȐȒțȓ ȚțȉȈ ȋ

ǰȕȚȍȕșȐȊȕȣȑ țȊȓȈȎȕȧȦȡȐȑ ȒȘȍȔ ș ȈȕȚȐȖȒșȐȌȈȕȚȕȣȔ ȥȜȜȍȒȚȖȔ ȗȖȔȖȋȈȍȚ țșȗȖȒȖȐȚȤ ȒȖȎț Ȑ ȉȣșȚȘȖ ȊȖșșȚȈȕȖȊȐȚȤ ȋȐȌȘȖȓȐȗȐȌȕȣȑ ȉȈȘȤȍȘ țȔȍȕȤȠȈȍȚ ȧȊȓȍȕȐȧ ȒțȗȍȘȖȏȈ Ȑ ȘȖȏȈȞȍȈ ǻșȗȖȒȈȐȊȈȍȚ șțȝțȦ Ȑ ȟțȊșȚȊȐȚȍȓȤȕțȦ ȒȖȎț Ȉ ȚȈȒȎȍ ȒȖȎț ȗȖȌȊȍȘȋȠțȦșȧ ȊȖȏȌȍȑșȚȊȐȦ șȚȘȍșșȈ ǷȖȌȝȖȌȐȚ Ȍȓȧ Țȍȝ ȒȚȖ ȊȗȍȘȊȣȍ ȘȍȠȐȓ ȐșȗȖȓȤȏȖȊȈȚȤ șȘȍȌșȚȊȈ ș ȋȐȌȘȖȒșȐȒȐșȓȖȚȈȔȐ ǩȍȏ ȖȚȌțȠȍȒ ǫȐȗȖȈȓȓȍȘȋȍȕȍȕ ǲȓȐȕȐȟȍșȒȐȍ ȐșșȓȍȌȖȊȈȕȐȧ ȌȖȒȈȏȈȓȐ ȥȜȜȍȒȚȐȊȕȖșȚȤ șȖȊȔȍșȚȕȖȋȖ ȗȘȐȔȍȕȍȕȐȧ ȌȈȕȕȖȋȖ ȒȘȍȔȈ ș ȗȘȍȗȈȘȈȚȈȔȐ șȖȌȍȘȎȈȡȐȔȐ ȈȏȍȓȈȐȕȖȊțȦ ȒȐșȓȖȚț ȗȘȐ ȘȖȏȈȞȍȈ ǻȔȍȕȤȠȈȍȚ ȗȘȖȧȊȓȍȕȐȧ ȚȍȓȍȈȕȋȐȥȒȚȈȏȐȑ ǺǨȅ Ȑ ȊȕȍȠȕȐȍ ȗȘȐȏȕȈȒȐ ȜȖȚȖșȚȈȘȍȕȐȧ

ǪǶǹǹǺǨǵǶǪǳǭǵǰǭ ǻȊȓȈȎȕȧȦȡȐȑ ȒȘȍȔ ș ȋȓȦȒȖȕȖȓȈȒȚȖȕȖȔ

1HR6WUDWD %LR +\GUDWLQJ &UHDP

ǨȘȚȐȒțȓ ȚțȉȈ ȋ ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȋȓȦȒȖȕȖȓȈȒȚȖȕȈ ȊȐȚȈȔȐȕ ǭ ǪȣșȖȒȖȥȜȜȍȒȚȐȊȕȣȑ țȊȓȈȎȕȧȦȡȐȑ ȒȘȍȔ ǻȔȍȕȤȠȈȍȚ ȊȐȌȐȔȣȍ ȗȘȐȏȕȈȒȐ șȚȈȘȍȕȐȧ Ȑ ȊȖșșȚȈȕȈȊȓȐȊȈȍȚ ȉȈȘȤȍȘȕȣȍ ȜțȕȒȞȐȐ ȒȖȎȐ ǹȖȌȍȘȎȐȚ ȔȈȒșȐȔȈȓȤȕȖȍ ȒȖȓȐȟȍșȚȊȖ ȋȓȦȒȖȕȖȓȈȒȚȖȕȈ ǶȉȍșȗȍȟȐȊȈȍȚ țȊȓȈȎȕȍȕȐȍ ȟȈșȈ ǴȧȋȒȖ ȖȚȠȍȓțȠȐȊȈȍȚ Ȑ ȗȖȊȣȠȈȍȚ țȗȘțȋȖșȚȤ ȒȖȎȐ ȕȍ ȘȈȏȌȘȈȎȈȧ ȌȈȎȍ șȈȔțȦ ȟțȊșȚȊȐȚȍȓȤȕțȦ ǩȍȏ ȖȚȌțȠȍȒ ȕȍȒȖȔȍȌȖȋȍȕȍȕ ǲȓȐȕȐȟȍșȒȐȍ ȐșșȓȍȌȖȊȈȕȐȧ ȗȖȒȈȏȈȓȐ șȖȊȔȍșȚȐȔȖșȚȤ ȌȈȕȕȖȋȖ șȘȍȌșȚȊȈ ș ȚȍȘȈȗȐȍȑ ȘȍȚȐȕȖȐȌȈȔȐ ǻșȚȘȈȕȧȍȚ șțȝȖșȚȤ ȕȍ ȘȈȏȌȘȈȎȈȍȚ ȒȖȎț

ǪǶǹǹǺǨǵǶǪǳǭǵǰǭ ǰ ǯǨȁǰǺǨ

ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȋȓȦȒȖȕȖȓȈȒȚȖȕȈ ȊȐȚȈȔȐȕ ǭ ȔȈșȓȖ ȗȘȐȔțȓȣ ȊȍȟȍȘȕȍȑ

ǪǶǹǹǺǨǵǶǪǳǭǵǰǭ ǳȖșȤȖȕ ș ȓȈȒȚȖȉȐȖȕȖȊȖȑ ȒȐșȓȖȚȖȑ

1HR6WUDWD %LRQLF /RWLRQ

ǨȘȚȐȒțȓ ȜȓȈȒȖȕ Ȕȓ

ǪǶǹǹǺǨǵǶǪǳǭǵǰǭ ǰ ǯǨȁǰǺǨ

ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȋȓȦȒȖȕȖȓȈȒȚȖȕȈ ȓȈȒȚȖȉȐȖȕȖȊȖȑ ȒȐșȓȖȚȣ ȊȐȚȈȔȐȕ ǭ ǮȐȌȒȐȑ ȜȓȦȐȌ ș ȓȈȒȚȖȉȐȖȕȖȊȖȑ ȒȐșȓȖȚȖȑ ȗȖȌȝȖȌȐȚ Ȍȓȧ ȓȦȉȖȋȖ ȚȐȗȈ ȒȖȎȐ ǶȒȈȏȣȊȈȍȚ țșȗȖȒȈȐȊȈȦȡȍȍ ȒȖȕȌȐȞȐȖȕȐȘțȦȡȍȍ Ȑ țȊȓȈȎȕȧȦȡȍȍ ȌȍȑșȚȊȐȍ ȕȈ șțȝțȦ ȒȖȎț ȓȐȞȈ Ȑ ȚȍȓȈ ȇȊȓȧȍȚșȧ ȗȘȖȜȐȓȈȒȚȐȒȖȑ ȖȒșȐȌȈȚȐȊȕȖȋȖ șȚȘȍșșȈ țȓțȟȠȈȍȚ șȖșȚȖȧȕȐȍ ȒȖȎȐ ȗȘȐ ȟȘȍȏȔȍȘȕȖȑ șțȝȖșȚȐ ȠȍȓțȠȍȕȐȐ Ȑ ȘȈȏȌȘȈȎȍȕȐȐ ǩȍȏ ȖȚȌțȠȍȒ ȋȐȗȖȈȓȓȍȘȋȍȕȍȕ ǲȓȐȕȐȟȍșȒȐ ȌȖȒȈȏȈȕȖ țȔȍȕȤȠȍȕȐȍ ȗȖȒȘȈșȕȍȕȐȧ Ȑ șțȝȖșȚȐ ț ȗȈȞȐȍȕȚȖȊ ȗȘȐ ȥȒȏȍȔȍ

ǪǶǹǹǺǨǵǶǪǳǭǵǰǭ ǲȘȍȔ Ȍȓȧ ȓȐȞȈ ș ȓȈȒȚȖȉȐȖȕȖȊȖȑ ȒȐșȓȖȚȖȑ

1HR6WUDWD %LRQLF )DFH &UHDP

ǨȘȚȐȒțȓ ȚțȉȈ ȋ ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȋȓȦȒȖȕȖȓȈȒȚȖȕȈ ȓȈȒȚȖȉȐȖȕȖȊȖȑ ȒȐșȓȖȚȣ ǲȘȍȔ Ȍȓȧ ȓȐȞȈ ș ȓȈȒȚȖȉȐȖȕȖȊȖȑ ȒȐșȓȖȚȖȑ ȖȉȍșȗȍȟȐȊȈȍȚ șțȗȍȘțȊȓȈȎȕȧȦȡȍȍ ȌȍȑșȚȊȐȍ Ȍȓȧ ȒȖȎȐ ȓȦȉȖȋȖ ȚȐȗȈ ǰșșȓȍȌȖȊȈȕȐȧ ȗȖȒȈȏȈȓȐ ȟȚȖ ȌȈȕȕȖȍ șȘȍȌșȚȊȖ ȖȒȈȏȣȊȈȍȚ ȔȧȋȒȖȍ țșȗȖȒȈȐȊȈȦȡȍȍ ȊȖȏȌȍȑșȚȊȐȍ ȕȈ ȘȈȏȌȘȈȎȍȕȕțȦ ȒȖȎț țȔȍȕȤȠȈȍȚ ȗȖȒȘȈșȕȍȕȐȍ ǩȍȏ ȖȚȌțȠȍȒ ȕȍȒȖȔȍȌȖȋȍȕȍȕ ǰȌȍȈȓȤȕȖȍ șȘȍȌșȚȊȖ Ȍȓȧ ȐșȗȖȓȤȏȖȊȈȕȐȧ ȗȖșȓȍ ȗȘȖȞȍȌțȘ ȗȐȓȐȕȋȈ ȕȍȈȉȓȧȞȐȖȕȕȖȑ ȓȈȏȍȘȕȖȑ ȠȓȐȜȖȊȒȐ Ȑ ȔȐȒȘȖȌȍȘȔȈȉȘȈȏȐȐ

ǬǶ

ǷǶǹǳǭ

ǻȔȍȕȤȠȍȕȐȍ ȗȖȒȘȈșȕȍȕȐȑ Ȑ țȓțȟȠȍȕȐȍ ȚȍȒșȚțȘȣ ȗȖșȓȍ ȕȍȌȍȓȤ ȐșȗȖȓȤȏȖȊȈȕȐȧ șȘȍȌșȚȊ ș ǸǵǨ ȗȈȞȐȍȕȚȖȔ ș ȟțȊșȚȊȐȚȍȓȤȕȖȑ ȒȖȎȍȑ

Ƕǿǰȁǭǵǰǭ ǰ ǪǶǹǹǺǨǵǶǪǳǭǵǰǭ ǮǰǸǵǶǱ ǲǶǮǰ

ǲȖșȔȍȚȐȟȍșȒȐȍ șȘȍȌșȚȊȈ ȌȈȕȕȖȑ ȓȐȕȐȐ șȖȌȍȘȎȈȚ ȚȖȓȤȒȖ ȥȜȜȍȒȚȐȊȕȣȍ Ȑ ȒȓȐȕȐȟȍșȒȐ ȖȌȖȉȘȍȕȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȒȖȚȖȘȣȍ ȉȣȓȐ ȘȈȏȘȈȉȖȚȈȕȣ Ȍȓȧ ȉȖȘȤȉȣ ș ȗȘȖȉȓȍȔȈȔȐ ȎȐȘȕȖȑ ȒȖȎȐ ǹȖȟȍȚȈȕȐȍ ȋȓȐȒȖȓȍȊȖȑ ȒȐșȓȖȚȣ Ȑ ȋȓȦȒȖȕȖȓȈȒȚȖȕȈ șȗȖșȖȉșȚȊțȦȚ ȒȓȍȚȖȟȕȖȔț ȖȉȕȖȊȓȍȕȐȦ țȓțȟȠȈȦȚ ȞȊȍȚ ȓȐȞȈ țȔȍȕȤȠȈȦȚ ȗȖȊȍȘȝȕȖșȚȕȣȍ Ȑ ȋȓțȉȖȒȐȍ ȔȖȘȡȐȕȣ ǴȐȕȌȈȓȤȕȈȧ ȒȐșȓȖȚȈ ȖȉȓȈȌȈȦȡȈȧ ȓȐȗȖȜȐȓȤȕȣȔȐ șȊȖȑșȚȊȈȔȐ Ȑ șȍȉȖȘȍȋțȓȐȘțȦȡȐȔȐ ȝȈȘȈȒȚȍȘȐșȚȐȒȈȔȐ ȉȣșȚȘȖ ȖȒȈȏȣȊȈȍȚ ȊȣȘȈȎȍȕȕȣȍ ȗȖȘȖșțȎȐȊȈȦȡȐȑ Ȑ ȔȈȚȐȘțȦȡȐȑ ȥȜȜȍȒȚȣ ȐȔȍȕȕȖ ȕȈ ȌȈȕȕȣȑ ȚȐȗ ȒȖȎȐ 1HR*OXFRVDPLQH™ ǵȍȖȋȓȦȒȖȏȈȔȐȕ™ ȊȣȘȈȊȕȐȊȈȍȚ ȚȖȕ ȒȖȎȐ ȖȒȈȏȣȊȈȍȚ ȓȐȜȚȐȕȋȖȊȣȑ ȥȜȜȍȒȚ șȗȖșȖȉșȚȊțȍȚ țșȚȘȈȕȍȕȐȦ ȋȐȗȍȘȗȐȋȔȍȕȚȈȞȐȐ

Ƕǿǰȁǭǵǰǭ ǰ ǪǶǹǹǺǨǵǶǪǳǭǵǰǭ ǮǰǸǵǶǱ ǲǶǮǰ

5(),1(

ǷǶǬǫǶǺǶǪǲǨ ǶȟȐȡȈȦȡȍȍ șȘȍȌșȚȊȖ Ȍȓȧ ȓȐȞȈ

Ƕǿǰȁǭǵǰǭ ǰ ǪǶǹǹǺǨǵǶǪǳǭǵǰǭ ǮǰǸǵǶǱ ǲǶǮǰ

1HR6WUDWD &ODULI\LQJ &OHDQVHU

ǨȘȚȐȒțȓ ȜȓȈȒȖȕ ș ȌȖȏȈȚȖȘȖȔ Ȕȓ ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȋȓȦȒȖȕȖȓȈȒȚȖȕȈ ȚȘȐȒȓȖȏȈȕȈ ȗȘȖ ȊȐȚȈȔȐȕ % Ȑ ȥȒșȚȘȈȒȚ ȘȖȔȈȠȒȐ ǫȓțȉȖȒȖ ȖȟȐȡȈȍȚ ȗȖȘȣ Ȑ țȌȈȓȧȍȚ ȏȈȋȘȧȏȕȍȕȐȧ ȔȧȋȒȖ ȖȚȠȍȓțȠȐȊȈȍȚ ȖȔȍȘȚȊȍȊȠȐȍ ȒȓȍȚȒȐ șȔȧȋȟȈȍȚ ȒȖȎț ȉȓȈȋȖȌȈȘȧ ȗȖȓȐȋȐȌȘȖȒșȐȒȐșȓȖȚȈȔ Ȑ ȥȒșȚȘȈȒȚț ȘȖȔȈȠȒȐ ǹȖȌȍȘȎȐȚ ȚȘȐȒȓȖȏȈȕ ȖȉȓȈȌȈȦȡȐȑ ȠȐȘȖȒȐȔ ȈȕȚȐȉȈȒȚȍȘȐȈȓȤȕȣȔ șȗȍȒȚȘȖȔ ȊȖȏȌȍȑșȚȊȐȧ ȗȘȐ ȈȒȕȍ Ȑ ȘȖȏȈȞȍȈ ǵȍ șȖȌȍȘȎȐȚ ȔȣȓȈ ȉȍȏ ȖȚȌțȠȍȒ ǲȓȐȕȐȟȍșȒȐ ȌȖȒȈȏȈȕȈ șȖȊȔȍșȚȐȔȖșȚȤ ȌȈȕȕȖȋȖ șȘȍȌșȚȊȈ ș ȚȍȘȈȗȐȍȑ ȗȘȐ ȈȒȕȍ

ǷǶǬǫǶǺǶǪǲǨ ǳȖșȤȖȕ Ȍȓȧ țȝȖȌȈ ȏȈ ȎȐȘȕȖȑ ȒȖȎȍȑ

1HR6WUDWD 2LO\ 6NLQ 6ROXWLRQ

ǨȘȚȐȒțȓ ȜȓȈȒȖȕ Ȕȓ ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȋȓȐȒȖȓȍȊȖȑ ȒȐșȓȖȚȣ ǺȖȕȐȒ ș ȋȓȐȒȖȓȍȊȖȑ ȒȐșȓȖȚȖȑ ȔȧȋȒȖ ȖȚȠȍȓțȠȐȊȈȍȚ ȖȟȐȡȈȍȚ ȗȖȘȣ țȌȈȓȧȍȚ ȐȏȉȣȚȒȐ ȎȐȘȈ Ȑ ȒȖȎȕȖȋȖ șȈȓȈ ș ȗȖȊȍȘȝȕȖșȚȐ ȒȖȎȐ șȒȓȖȕȕȖȑ Ȓ țȋȘȍȊȖȑ șȣȗȐ ǸȍȒȖȔȍȕȌțȍȚșȧ ȐșȗȖȓȤȏȖȊȈȚȤ Ȋ ȗȘȖȞȍȌțȘȍ ȟȐșȚȒȐ Ȋ ȌȖȔȈȠȕȍȔ țȝȖȌȍ ± ȗȖșȓȍ ȖȟȐȡȍȕȐȧ ȐȓȐ Ȋ ȚȍȟȍȕȐȍ Ȍȕȧ Ȍȓȧ ȒȖȕȌȐȞȐȖȕȐȘȖȊȈȕȐȧ ȒȖȎȐ ǩȍȏ ȖȚȌțȠȍȒ

ǯǨȁǰǺǨ ǻȊȓȈȎȕȧȦȡȐȑ ȋȍȓȤ Ȍȓȧ ȎȐȘȕȖȑ ȒȖȎȐ 63)

1HR6WUDWD 6KHHU +\GUDWLRQ 63)

ǨȘȚȐȒțȓ ) ; ȜȓȈȒȖȕ ș ȌȖȏȈȚȖȘȖȔ ȋ

ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ 1HR*OXFRVDPLQH™ 3K\WRWDO șȖȓȕȞȍȏȈȡȐȚȕȣȍ ȜȐȓȤȚȘȣ 89$ 89% ǳȍȋȒȐȑ țȊȓȈȎȕȧȦȡȐȑ ȜȓȦȐȌ ȊȣȘȈȊȕȐȊȈȦȡȐȑ ȘȍȓȤȍȜ ȒȖȎȐ șȗȖșȖȉșȚȊțȍȚ ȒȓȍȚȖȟȕȖȔț ȖȉȕȖȊȓȍȕȐȦ Ȑ ȖșȊȍȚȓȧȍȚ ȗȖșȚȈȒȕȍ 1HR*OXFRVDPLQH™ ȊȖșșȚȈȕȈȊȓȐȊȈȍȚ Ȑ țȒȘȍȗȓȧȍȚ ȌȍȘȔȈȓȤȕȣȑ ȔȈȚȘȐȒș Ȑ șȚȐȔțȓȐȘțȍȚ șȐȕȚȍȏ ȒȖȓȓȈȋȍȕȖȊȣȝ ȊȖȓȖȒȖȕ

ǼȐȓȤȚȘȣ ȠȐȘȖȒȖȋȖ șȗȍȒȚȘȈ ȌȍȑșȚȊȐȧ ȏȈȡȐȡȈȦȚ ȒȖȎț ȖȚ țȓȤȚȘȈȜȐȖȓȍȚȖȊȖȋȖ ȐȏȓțȟȍȕȐȧ Ȉ ȘȈșȚȐȚȍȓȤȕȣȑ ȒȖȔȗȓȍȒș 3K\WRWDO șȔȍșȤ ȈȕȚȐșȍȗȚȐȒȖȊ ± ȕȐȔȈ Ȑ ȓȖȗțȝȈ ȘȍȋțȓȐȘțȍȚ ȗȘȖȐȏȊȖȌșȚȊȖ ȒȖȎȕȖȋȖ șȈȓȈ ȔȈȚȐȘțȍȚ ȒȖȎț ȕȍ ȊȣȏȣȊȈȧ ȘȈȏȌȘȈȎȍȕȐȧ ǵȍ șȖȌȍȘȎȐȚ ȔȈșȍȓ ȉȍȏ ȖȚȌțȠȍȒ ȕȍȒȖȔȍȌȖȋȍȕȍȕ

ǬǶ

ǪǶǹǹǺǨǵǶǪǳǭǵǰǭ

ǷǶǹǳǭ

ǸȍȏțȓȤȚȈȚȣ ȐșȗȖȓȤȏȖȊȈȕȐȧ șȘȍȌșȚȊȈ ș șȖȌȍȘȎȈȕȐȍȔ 1HR*OXFRVDPLQH Ȋ ȚȍȟȍȕȐȍ ȕȍȌȍȓȤ

ǸȍȋțȓȐȘțȦȡȐȑ ȋȍȓȤ Ȍȓȧ ȎȐȘȕȖȑ ȒȖȎȐ

1HR6WUDWD 2LO &RQWURO *HO

ǨȘȚȐȒțȓ ȜȓȈȒȖȕ ș ȌȖȏȈȚȖȘȖȔ ȋ ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȋȓȦȒȖȕȖȓȈȒȚȖȕȈ ȔȐȕȌȈȓȤȕȖȑ ȒȐșȓȖȚȣ ǵȍȎȐȘȕȈȧ ȜȖȘȔțȓȈ ȋȍȓȧ ȈȉșȖȘȉȐȘțȍȚ ȐȏȓȐȠȒȐ ȎȐȘȈ țȌȈȓȧȍȚ ȉȓȍșȒ Ǫ ȘȍȏțȓȤȚȈȚȍ ȗȘȐȔȍȕȍȕȐȧ ȚȍȒșȚțȘȈ ȒȖȎȐ șȚȈȕȖȊȐȚșȧ ȉȈȘȝȈȚȐșȚȖȑ țȔȍȕȤȠȈȦȚșȧ ȗȖȘȣ ǫȓȦȒȖȕȖȓȈȒȚȖȕ ȖȒȈȏȣȊȈȍȚ ȈȕȚȐȖȒșȐȌȈȕȚȕȖȍ Ȑ ȖȚȠȍȓțȠȐȊȈȦȡȍȍ ȌȍȑșȚȊȐȧ ȔȐȕȌȈȓȤȕȈȧ ȒȐșȓȖȚȈ ȒȖȕȚȘȖȓȐȘțȍȚ ȊȣȘȈȉȖȚȒț ȒȖȎȕȖȋȖ ȎȐȘȈ Ȑ ȉȖȘȍȚșȧ ș ȉȈȒȚȍȘȐȧȔȐ ȊȣȏȣȊȈȦȡȐȔȐ ȊȖșȗȈȓȍȕȐȍ ǩȍȏ ȖȚȌțȠȍȒ ȕȍȒȖȔȍȌȖȋȍȕȍȕ ȘȍȒȖȔȍȕȌțȍȚșȧ Ȍȓȧ ȍȎȍȌȕȍȊȕȖȋȖ ȐșȗȖȓȤȏȖȊȈȕȐȧ

ǪǶǹǹǺǨǵǶǪǳǭǵǰǭ ǫȍȓȤ 3OXV

1HR6WUDWD *HO 3OXV

ǨȘȚȐȒțȓ ȜȓȈȒȖȕ Ȕȓ ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȋȓȐȒȖȓȍȊȖȑ ȒȐșȓȖȚȣ ǪȣșȖȒȖȥȜȜȍȒȚȐȊȕȈȧ ȜȖȘȔțȓȈ ȋȍȓȧ șȗȍȞȐȈȓȤȕȖ șȖȏȌȈȕȈ Ȍȓȧ ȗȈȞȐȍȕȚȖȊ țȎȍ ȐșȗȖȓȤȏȖȊȈȊȠȐȝ ȗȘȍȗȈȘȈȚȣ ș ȉȖȓȍȍ ȕȐȏȒȐȔ ȗȘȖȞȍȕȚȕȣȔ șȖȌȍȘȎȈȕȐȍȔ ȋȓȐȒȖȓȍȊȖȑ ȒȐșȓȖȚȣ ȐȓȐ Ȍȓȧ ȗȈȞȐȍȕȚȖȊ ș ȎȐȘȕȖȑ ȗȘȖȉȓȍȔȕȖȑ ȒȖȎȍȑ ǹȘȍȌșȚȊȖ ȐȌȍȈȓȤȕȖ Ȍȓȧ ȐșȗȖȓȤȏȖȊȈȕȐȧ Ȋ ȎȈȘȒȖȔ ȊȓȈȎȕȖȔ ȒȓȐȔȈȚȍ ǲȖȘȘȍȒȚȐȘțȍȚ ȗȘȐȏȕȈȒȐ ȜȖȚȖȐȕȌțȞȐȘȖȊȈȕȕȖȋȖ șȚȈȘȍȕȐȧ ȒȖȎȐ șȗȖșȖȉșȚȊțȍȚ șȖȒȘȈȡȍȕȐȦ ȗȖȘ Ȑ țȗȓȖȚȕȧȍȚ ȒȖȎț ǷȘȍȗȧȚșȚȊțȍȚ ȊȘȈșȚȈȕȐȦ ȊȖȓȖș ȗȖșȓȍ ȥȗȐȓȧȞȐȐ ǵȍ șȖȌȍȘȎȐȚ ȖȚȌțȠȍȒ

Ƕǿǰȁǭǵǰǭ ǰ ǪǶǹǹǺǨǵǶǪǳǭǵǰǭ ǮǰǸǵǶǱ ǲǶǮǰ

ǹǷǭǾǰǨǳȄǵȃǭ ǹǸǭǬǹǺǪǨ ǰǵǺǭǵǹǰǪǵǶǫǶ ǬǭǱǹǺǪǰȇ

ǳȍȟȍȕȐȍ șȘȍȌșȚȊȈȔȐ 1HR6WUDWD® șȖȏȌȈȕȕȣȔȐ ș ȐșȗȖȓȤȏȖȊȈȕȐȍȔ ȗȍȘȍȌȖȊȣȝ ȕȈțȟȕȣȝ ȚȍȝȕȖȓȖȋȐȑ ȕȈȗȘȈȊȓȍȕȖ ȕȈ ȚȍȘȈȗȐȦ șȗȍȞȐȜȐȟȍșȒȐȝ ȓȖȒȈȓȤȕȣȝ ȗȘȖȉȓȍȔ ȚȈȒȐȝ ȒȈȒ ȚȍȔȕȣȍ ȒȘțȋȐ ȗȖȌ ȋȓȈȏȈȔȐ ȋȐȗȍȘȗȐȋȔȍȕȚȈȞȐȧ Ȑ șȚȈȘȟȍșȒȐȍ ȒȍȘȈȚȖȔȣ ȗȈȚȖȓȖȋȐȟȍșȒȈȧ șțȝȖșȚȤ ȒȖȎȐ Ǫ șȖșȚȈȊ ȌȈȕȕȣȝ șȘȍȌșȚȊ ȊȝȖȌȧȚ ǨǵǨ Ȑ ǸǵǨ Ȋ ȘȈȏȓȐȟȕȣȝ ȒȖȕȞȍȕȚȘȈȞȐȧȝ

ǹǷǭǾǰǨǳȄǵȃǭ ǹǸǭǬǹǺǪǨ ǰǵǺǭǵǹǰǪǵǶǫǶ ǬǭǱǹǺǪǰȇ

7$5*(7(' 75($70(17

ǫǰǷǭǸǷǰǫǴǭǵǺǨǾǰȇ

ǹǷǭǾǰǨǳȄǵȃǭ ǹǸǭǬǹǺǪǨ ǰǵǺǭǵǹǰǪǵǶǫǶ ǬǭǱǹǺǪǰȇ

ǫȍȓȤ ȖșȊȍȚȓȧȦȡȐȑ ș ȋȐȌȘȖȝȐȕȖȕȖȔ

1HR6WUDWD +4 6NLQ /LJKWHQLQJ *HO

ǨȘȚȐȒțȓ ȚțȉȈ ȋ ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȋȓȦȒȖȕȖȓȈȒȚȖȕȈ ȓȈȒȚȖȉȐȖȕȖȊȖȑ ȒȐșȓȖȚȣ ȋȐȌȘȖȝȐȕȖȕȈ ȒȖȑȍȊȖȑ ȒȐșȓȖȚȣ ǪȣșȖȒȖȥȜȜȍȒȚȐȊȕȣȑ ȖșȊȍȚȓȧȦȡȐȑ ȋȍȓȤ șȖȌȍȘȎȐȚ ȒȖȔȗȓȍȒș ȖȚȉȍȓȐȊȈȦȡȐȝ ȐȕȋȘȍȌȐȍȕȚȖȊ ȋȐȌȘȖȝȐȕȖȕ +4 ȒȖȑȍȊțȦ ȒȐșȓȖȚț Ȑ ȥȒșȚȘȈȒȚ ȓȈȒȘȐȞȣ ǹȘȍȌșȚȊȖ ȒȖȘȘȍȒȚȐȘțȍȚ țȎȍ șțȡȍșȚȊțȦȡȐȍ țȟȈșȚȒȐ ȋȐȗȍȘȗȐȋȔȍȕȚȈȞȐȐ Ȉ ȚȈȒȎȍ ȖșțȡȍșȚȊȓȧȍȚ ȗȘȖȜȐȓȈȒȚȐȒț ȍȍ ȗȖȧȊȓȍȕȐȧ Ǫ ȘȍȏțȓȤȚȈȚȍ ȒȖȎȈ ȖșȊȍȚȓȧȍȚșȧ ȞȊȍȚ ȓȐȞȈ ȊȣȘȈȊȕȐȊȈȍȚșȧ ǸȍȒȖȔȍȕȌțȍȚșȧ ȗȘȐȔȍȕȧȚȤ ȒțȘșȖȔ ȔȍșȧȞȈ ǩȍȏ ȖȚȌțȠȍȒ ȕȍȒȖȔȍȌȖȋȍȕȍȕ

ǬǶ

ǷǶǹǳǭ

ǸȍȏțȓȤȚȈȚȣ ȗȖșȓȍ ȕȍȌȍȓȤ ȗȘȐȔȍȕȍȕȐȧ 1HR6WUDWD +4 6NLQ /LJKWHQLQJ *HO

ǫǰǷǭǸǷǰǫǴǭǵǺǨǾǰȇ

ǫȍȓȤ ȖșȊȍȚȓȧȦȡȐȑ ș ȋȓȐȒȖȓȍȊȖȑ ȒȐșȓȖȚȖȑ

1HR6WUDWD 6NLQ /LJKWHQLQJ *HO

ǨȘȚȐȒțȓ ȚțȉȈ ȋ ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȋȓȐȒȖȓȍȊȖȑ ȒȐșȓȖȚȣ ȋȐȌȘȖȝȐȕȖȕȈ ǳȍȋȒȐȑ ȋȍȓȤ șȖȌȍȘȎȐȚ Ȋ șȖșȚȈȊȍ ȋȓȐȒȖȓȍȊțȦ ȒȐșȓȖȚț ȒȖȚȖȘȈȧ Ȋ șȖȟȍȚȈȕȐȐ ș ȋȐȌȘȖȝȐȕȖȕȖȔ ȖȒȈȏȣȊȈȍȚ ȖșȊȍȚȓȧȦȡȍȍ Ȑ ȖȚȠȍȓțȠȐȊȈȦȡȍȍ ȌȍȑșȚȊȐȍ ȕȈ ȗȐȋȔȍȕȚȐȘȖȊȈȕȕȣȍ țȟȈșȚȒȐ ȒȖȎȐ ȊȍșȕțȠȒȐ șȚȈȘȟȍșȒȐȍ ȗȧȚȕȈ ȔȍȓȈȏȔȈ Ȑ ȌȘ ǴȖȎȕȖ ȐșȗȖȓȤȏȖȊȈȚȤ ȒȈȒ Ȍȓȧ ȓȐȞȈ ȚȈȒ Ȑ Ȍȓȧ ȚȍȓȈ ǸȍȒȖȔȍȕȌțȍȚșȧ ȗȘȐȔȍȕȧȚȤ ȒțȘșȖȔ ȔȍșȧȞȈ ǩȍȏ ȖȚȌțȠȍȒ

ǫǰǷǭǸǷǰǫǴǭǵǺǨǾǰȇ

1HR6WUDWD 3LJPHQW /LJKWHQLQJ *HO

ǨȘȚȐȒțȓ ȚțȉȈ ȋ

ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ǨǵǨ ȋȓȦȒȖȕȖȓȈȒȚȖȕȈ ȒȖȑȍȊȖȑ ȒȐșȓȖȚȣ ȊȐȚȈȔȐȕ ǹ ǶșȊȍȚȓȧȦȡȐȑ ȋȍȓȤ ȗȘȍȌȕȈȏȕȈȟȍȕ Ȍȓȧ ȗȈȞȐȍȕȚȖȊ ș ȕȍȏȕȈȟȐȚȍȓȤȕȣȔȐ ȗȘȖȧȊȓȍȕȐȧȔȐ ȗȐȋȔȍȕȚȈȞȐȐ ȐȓȐ Ȍȓȧ Țȍȝ ȒȚȖ ȐȏȉȍȋȈȍȚ ȗȘȐȔȍȕȍȕȐȧ ȋȐȌȘȖȝȐȕȖȕȈ ǼȖȘȔțȓȈ șȘȍȌșȚȊȈ șȖȌȍȘȎȐȚ șȖȟȍȚȈȕȐȍ ȈȓȤȜȈ Ȑ ȗȖȓȐȋȐȌȘȖȒșȐȒȐșȓȖȚ ȒȖȚȖȘȣȍ șȗȖșȖȉșȚȊțȦȚ ȔȧȋȒȖȔț ȖȚȠȍȓțȠȐȊȈȕȐȦ ȒȖȎȐ ǶșȊȍȚȓȧȦȡȐȑ ȒȖȔȗȓȍȒș Ȑȏ ȒȖȑȍȊȖȑ ȒȐșȓȖȚȣ ȊȐȚȈȔȐȕȈ ǹ Ȉ ȚȈȒȎȍ ȕȈȚțȘȈȓȤȕȣȍ ȥȒșȚȘȈȒȚȣ ȠȍȓȒȖȊȐȞȣ ȚȖȓȖȒȕȧȕȒȐ Ȑ ȓȈȒȘȐȟȕȐȒȈ țȓțȟȠȈȦȚ ȞȊȍȚ ȓȐȞȈ șȔȧȋȟȈȦȚ ȗȘȐȌȈȦȚ ȒȖȎȍ ȏȌȖȘȖȊȖȍ șȐȧȕȐȍ ǲȓȐȕȐȟȍșȒȐ ȌȖȒȈȏȈȕȖ țȔȍȕȤȠȍȕȐȍ ȐȕȚȍȕșȐȊȕȖșȚȐ ȗȐȋȔȍȕȚȈȞȐȐ ȕȈ ȗȖșȓȍ ȗȘȐȔȍȕȍȕȐȧ ȌȈȕȕȖȋȖ ȗȘȍȗȈȘȈȚȈ

ǫǰǷǭǸǷǰǫǴǭǵǺǨǾǰȇ ǲȘȍȔ ȖșȊȍȚȓȧȦȡȐȑ ș ȓȈȒȚȖȉȐȖȕȖȊȖȑ ȒȐșȓȖȚȖȑ 63)

1HR6WUDWD %LRQLF 6NLQ /LJKWHQLQJ &UHDP 63)

ǨȘȚȐȒțȓ ȚțȉȈ ȋ

ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȋȓȦȒȖȕȖȓȈȒȚȖȕȈ ȓȈȒȚȖȉȐȖȕȖȊȖȑ ȒȐșȓȖȚȣ ȋȐȌȘȖȝȐȕȖȕȈ ȊȐȚȈȔȐȕ ǭ șȖȓȕȞȍȏȈȡȐȚȕȣȍ ȜȐȓȤȚȘȣ 89$ 89% ǬȕȍȊȕȖȑ ȒȘȍȔ ȕȈ ȖșȕȖȊȍ ȋȐȌȘȖȝȐȕȖȕȈ ȖșȊȍȚȓȧȍȚ ȘȈȏȓȐȟȕȣȍ ȊȐȌȣ ȗȐȋȔȍȕȚȈȞȐȐ ȊȍșȕțȠȒȐ ȊȖȏȘȈșȚȕȣȍ ȒȍȘȈȚȖȔȣ ȔȍȓȈȏȔț ǳȈȒȚȖȉȐȖȕȖȊȈȧ ȒȐșȓȖȚȈ țȊȓȈȎȕȧȍȚ ȖȒȈȏȣȊȈȍȚ ȈȕȚȐȖȒșȐȌȈȕȚȕȖȍ ȌȍȑșȚȊȐȍ Ȑ ȗȘȍȌȖȚȊȘȈȡȈȍȚ ȗȖȧȊȓȍȕȐȍ ȕȖȊȣȝ ȗȐȋȔȍȕȚȕȣȝ ȗȧȚȍȕ ǹȖȓȕȍȟȕȣȑ ȜȐȓȤȚȘ ȠȐȘȖȒȖȋȖ șȗȍȒȚȘȈ ȌȍȑșȚȊȐȧ ȏȈȡȐȡȈȍȚ ȖȚ șȖȓȕȍȟȕȣȝ ȓțȟȍȑ ȒȖȚȖȘȣȍ ȧȊȓȧȦȚșȧ ȖșȕȖȊȕȖȑ ȗȘȐȟȐȕȖȑ ȗȐȋȔȍȕȚȈȞȐȐ ǸȍȒȖȔȍȕȌțȍȚșȧ ȗȘȐȔȍȕȧȚȤ ȒțȘșȖȔ ȔȍșȧȞȈ

ǫǰǷǭǸǷǰǫǴǭǵǺǨǾǰȇ ǲȘȍȔ ȖșȊȍȚȓȧȦȡȐȑ 63)

1HR6WUDWD %ULJKWHQLQJ &UHDP 63)

ǨȘȚȐȒțȓ ȚțȉȈ ȋ

ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȋȓȦȒȖȕȖȓȈȒȚȖȕȈ ȓȈȒȚȖȉȐȖȕȖȊȖȑ ȔȐȕȌȈȓȤȕȖȑ ȓȐȔȖȕȕȖȑ ȒȐșȓȖȚ Ȑ ȈȘȉțȚȐȕȈ ǬȕȍȊȕȖȑ ȒȘȍȔ ȉȍȏ ȋȐȌȘȖȝȐȕȖȕȈ ȖșȊȍȚȓȧȍȚ ȗȐȋȔȍȕȚȈȞȐȦ Ȑ ȉȖȘȍȚșȧ ș ȌȈȓȤȕȍȑȠȐȔ ȜȖȚȖȗȖȊȘȍȎ ȌȍȕȐȍȔ ȒȖȎȐ Ǫ șȖșȚȈȊ ȌȈȕȕȖȋȖ ȒȘȍȔȈ ȊȝȖȌȧȚ ȗȖȓȐȋȐȌȘȖȒșȐȒȐșȓȖȚȣ ȈȓȤȜȈ ȋȐȌȘȖȒșȐȒȐșȓȖȚȣ ȗȘȖȊȐȚȈȔȐȕ Ǩ Ȑ ȊȐȚȈȔȐȕ ǭ Ȉ ȚȈȒȎȍ ȥȒșȚȘȈȒȚ ȓȈȒȘȐȞȣ ǲȘȍȔ șȗȖșȖȉșȚȊțȍȚ ȔȧȋȒȖȔț ȖȚȠȍȓțȠȐȊȈȕȐȦ Ȑ ȊȣȘȈȊȕȐȊȈȕȐȦ ȚȖȕȈ ȒȖȎȐ șȖȌȍȘȎȐȚ șȖȓȕȍȟȕȣȑ ȜȐȓȤȚȘ ȠȐȘȖȒȖȋȖ șȗȍȒȚȘȈ ȌȍȑșȚȊȐȧ ǩȍȏ ȖȚȌțȠȍȒ

ǹǷǭǾǰǨǳȄǵȃǭ ǹǸǭǬǹǺǪǨ ǰǵǺǭǵǹǰǪǵǶǫǶ ǬǭǱǹǺǪǰȇ

ǶșȊȍȚȓȧȦȡȐȑ ȋȍȓȤ ș ȘȈșȚȐȚȍȓȤȕȣȔ ȒȖȔȗȓȍȒșȖȔ

ǰȕȚȍȕșȐȊȕȣȑ $17, $*( ǰȕȚȍȕșȐȊȕȣȑ ȊȖșșȚȈȕȈȊȓȐȊȈȦȡȐȑ ȒȘȍȔ

ǹǷǭǾǰǨǳȄǵȃǭ ǹǸǭǬǹǺǪǨ ǰǵǺǭǵǹǰǪǵǶǫǶ ǬǭǱǹǺǪǰȇ

1HR6WUDWD 5HQHZDO &UHDP

ǨȘȚȐȒțȓ ȚțȉȈ ȋ ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȋȓȦȒȖȕȖȓȈȒȚȖȕȈ ȗȘȖ ȘȍȚȐȕȖȓȈ ȊȐȚȈȔȐȕ ( ǩȓȈȋȖȌȈȘȧ șȖȌȍȘȎȈȕȐȦ ȈȒȚȐȊȕȣȝ ȈȕȚȐȊȖȏȘȈșȚȕȣȝ ȐȕȋȘȍȌȐȍȕȚȖȊ Ȋ șȖșȚȈȊȍ ȊȖșșȚȈȕȈȊȓȐȊȈȦȡȍȋȖ ȒȘȍȔȈ ȊȕȍȠȕȐȍ ȗȘȐȏȕȈȒȐ ȜȖȚȖ Ȑ ȝȘȖȕȖșȚȈȘȍȕȐȧ țȔȍȕȤȠȈȦȚșȧ ȋȖȘȈȏȌȖ ȉȣșȚȘȍȍ ȟȍȔ ȗȘȐ ȗȘȐȔȍȕȍȕȐȐ Ȗȉȣȟȕȣȝ ȘȍȚȐȕȖȐȌȖȊ ǫȓȦȒȖȕȖȓȈȒȚȖȕ Ȑ ȗȘȖ ȘȍȚȐȕȖȓ ȘȈȉȖȚȈȦȚ șȐȕȍȘȋȐȟȍșȒȐ Ǫ ȘȍȏțȓȤȚȈȚȍ țȓțȟȠȈȍȚșȧ ȚȍȒșȚțȘȈ ȒȖȎȐ țȔȍȕȤȠȈȍȚșȧ ȘȈȏȔȍȘ ȗȖȘ ȞȊȍȚ ȓȐȞȈ ȊȣȘȈȊȕȐȊȈȍȚșȧ ȒȖȎȈ șȚȈȕȖȊȐȚșȧ țȊȓȈȎȕȍȕȕȖȑ ȔȖȘȡȐȕȣ ȘȈȏȋȓȈȎȐȊȈȦȚșȧ ǸȍȒȖȔȍȕȌțȍȚșȧ Ȍȓȧ ȊȍȟȍȘȕȍȋȖ țȝȖȌȈ ǽȖȘȖȠȖ ȏȈȘȍȒȖȔȍȕȌȖȊȈȓ șȍȉȧ Ȋ ȒȈȟȍșȚȊȍ ȗȘȍȌȗȐȓȐȕȋȖȊȖȑ ȗȖȌȋȖȚȖȊȒȐ ȏȈ ȕȍȌȍȓȐ ȗȍȘȍȌ ȒțȘșȖȔ ȘȍȚȐȕȖȍȊȣȝ ȗȐȓȐȕȋȖȊ Ȉ ȚȈȒȎȍ Ȍȓȧ ȗȘȖȓȖȕȋȈȞȐȐ ȘȍȏțȓȤȚȈȚȖȊ ȒțȘșȈ ȗȐȓȐȕȋȖȊ 74 ǵȍȒȖȔȍȌȖȕȖȋȍȕȍȕ ǵȍ ȘȍȒȖȔȍȕȌȖȊȈȕ Ȍȓȧ ȟțȊșȚȊȐȚȍȓȤȕȖȑ ȒȖȎȐ 55

țȓțȟȠȍȕȐȧ ȞȊȍȚȈ ȓȐȞȈ

ǹțȎȍȕȐȍ ȗȖȘ

ǺȍȒșȚțȘȈ

ǪȣȘȈȊȕȐȊȈȕȐȍ ȚȖȕȈ

ǲȓȐȕȐȟȍșȒȐ țșȚȈȕȖȊȓȍȕȕȖȍ țȓțȟȠȍȕȐȍ șȖșȚȖȧȕȐȧ ȒȖȎȐ Ȋ ȗȖșȓȍ ȕȍȌȍȓȤ ȗȘȐȔȍȕȍȕȐȧ

ǰȕȚȍȕșȐȊȕȣȑ $17, $*( ǨȒȚȐȊȕȈȧ șȣȊȖȘȖȚȒȈ ș ȓȈȒȚȖȉȐȖȕȖȊȖȑ ȒȐșȓȖȚȖȑ

1HR6WUDWD %LRQLF )DFH 6HUXP

ǨȘȚȐȒțȓ ȜȓȈȒȖȕ ș ȌȖȏȈȚȖȘȖȔ ȋ ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȓȈȒȚȖȉȐȖȕȖȊȖȑ ȒȐșȓȖȚȣ ȗȘȖ ȊȐȚȈȔȐȕȣ Ǩ ǹ ǭ ǲȖȕȞȍȕȚȘȐȘȖȊȈȕȕȈȧ șȣȊȖȘȖȚȒȈ Ȍȓȧ ȓȐȞȈ ș ȓȈȒȚȖȉȐȖȕȖȊȖȑ ȒȐșȓȖȚȖȑ ȖȉȓȈȌȈȍȚ ȊȣȘȈȎȍȕȕȣȔ ȖȔȖȓȈȎȐȊȈȦȡȐȔ ȥȜȜȍȒȚȖȔ Ȑ țșȐȓȐȊȈȍȚ ȌȍȑșȚȊȐȍ ȌȘțȋȐȝ șȘȍȌșȚȊ ȗȖ țȝȖȌț ȏȈ ȒȖȎȍȑ Ǫ ȘȍȏțȓȤȚȈȚȍ ȗȘȐȔȍȕȍȕȐȧ ȒȖȎȈ ȗȘȐȖȉȘȍȚȈȍȚ șȐȧȕȐȍ ȗȖȊȍȘȝȕȖșȚȕȣȍ Ȑ ȋȓțȉȖȒȐȍ ȔȖȘȡȐȕȣ ȘȈȏȋȓȈȎȐȊȈȦȚșȧ ȘȈȏȔȍȘ ȗȖȘ țȔȍȕȤȠȈȍȚșȧ ȗȐȋȔȍȕȚȈȞȐȧ ȊȣȘȈȊȕȐȊȈȍȚșȧ ȇȊȓȧȧșȤ ȔȖȡȕȣȔ ȈȕȚȐȖȒșȐȌȈȕȚȖȔ ȓȈȒȚȖȉȐȖȕȖȊȈȧ ȒȐșȓȖȚȈ țȓțȟȠȈȍȚ șȚȘțȒȚțȘț ȒȖȎȐ Ȑ șȗȖșȖȉșȚȊțȍȚ ȊȣȘȈȉȖȚȒȍ ȥȕȏȐȔȖȊ ȏȈȡȐȡȈȦȡȐȝ ȒȖȓȓȈȋȍȕȖȊȖ ȥȓȈșȚȐȕȖȊȣȍ ȊȖȓȖȒȕȈ ȖȚ ȘȈȏȘțȠȍȕȐȧ ǷȘȐȔȍȕȧȍȚșȧ ȕȈ ȏȖȕȣ ȊȖȒȘțȋ ȋȓȈȏ Ȑ ȘȚȈ ȓȐȉȖ ȕȈ Ȋșȍ ȓȐȞȖ ǹȣȊȖȘȖȚȒȈ ȔȖȎȍȚ ȗȘȐȔȍȕȧȚȤșȧ șȈȔȖșȚȖȧȚȍȓȤȕȖ ȐȓȐ Ȋ șȖȟȍȚȈȕȐȐ ș ȌȘțȋȐȔȐ șȘȍȌșȚȊȈȔȐ ǰȌȍȈȓȤȕȈ ȒȈȒ ȜȐȕȐȠȕȖȍ șȘȍȌșȚȊȖ ȗȖșȓȍ ȗȘȖȊȍȌȍȕȐȧ ȒȖșȔȍȚȖȓȖȋȐȟȍșȒȐȝ ȗȘȖȞȍȌțȘ ǷȘȍȌȕȈȏȕȈȟȍȕȈ Ȍȓȧ ȍȎȍȌȕȍȊȕȖȋȖ ȗȘȐȔȍȕȍȕȐȧ ȗȖȌȝȖȌȐȚ Ȍȓȧ ȒȖȎȐ ȓȐȞȈ ȓȦȉȖȋȖ ȚȐȗȈ ǩȍȏ ȖȚȌțȠȍȒ

ǷǸǶǩǳǭǴǵǨȇ ǹǻǽǨȇ ǲǶǮǨ

3UREOHP 'U\ 6NLQ &UHDP

ǨȘȚȐȒțȓ ȉȈȕȒȈ ȋ ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ șȔȍșȤ $+$ ȔȈȓȤȚȖȉȐȖȕȖȊȈȧ ȒȐșȓȖȚȈ Ȑ ȗȘȖ ȊȐȚȈȔȐȕ ǭ ȅȚȖȚ ȕȈșȣȡȍȕȕȣȑ ȒȘȍȔ șȖȌȍȘȎȐȚ ȊȣșȖȒțȦ ȒȖȕȞȍȕȚȘȈȞȐȦ ȈȓȤȜȈ Ȑ ȗȖȓȐȋȐȌȘȖȒșȐȒȐșȓȖȚ Ȍȓȧ ȖȚȠȍȓțȠȐȊȈȕȐȧ ȖȟȍȕȤ șțȝȖȑ ȠȍȘȖȝȖȊȈȚȖȑ țȚȖȓȡȍȕȕȖȑ ȒȖȎȐ ȕȈȗȘȐȔȍȘ ȕȈ ȓȖȒȚȧȝ ȒȖȓȍȕȧȝ Ȑ ȗȧȚȒȈȝ ǯȕȈȟȐȚȍȓȤȕȖȍ țȓțȟȠȍȕȐȍ ȉȣȓȖ ȖȚȔȍȟȍȕȖ ȗȘȐ ȐșȗȖȓȤȏȖȊȈȕȐȐ șȘȍȌșȚȊȈ ȕȈ ȖȟȍȕȤ ȖȋȘțȉȍȊȠȍȑ ȒȖȎȍ țȎȍ ȟȍȘȍȏ ȕȍȌȍȓȐ ȘȍȋțȓȧȘȕȖȋȖ ȍȎȍȌȕȍȊȕȖȋȖ ȗȘȐȔȍȕȍȕȐȧ ǻȊȓȈȎȕȧȦȡȐȍ șȊȖȑșȚȊȈ ȊȖșȒȈ Ȑ ȒȖȕȌȐȞȐȖȕȐȘțȦȡȐȝ ȔȈșȍȓ ȗȖȔȖȋȈȦȚ țȔȍȕȤȠȐȚȤ ȧȊȓȍȕȐȧ ȋȐȗȍȘȒȍȘȈȚȖȏȈ ȐȌȍȈȓȤȕȖ ȗȖȌȝȖȌȐȚ Ȍȓȧ ȗȈȞȐȍȕȚȖȊ ș ȓȦȉȣȔȐ ȠȍȓțȠȈȡȐȔȐșȧ ȌȍȘȔȈȚȖȏȈȔȐ ǩȍȏ ȖȚȌțȠȍȒ

ǬǶ

Ǩǲǵǭ

ǷǶǹǳǭ

ǯȕȈȟȐȚȍȓȤȕȣȍ țȓțȟȠȍȕȐȧ șȖșȚȖȧȕȐȧ șțȝȖȑ ȔȖȏȖȓȐșȚȖȑ ȒȖȎȐ ȗȖșȓȍ ȕȍȌȍȓȤ ȍȎȍȌȕȍȊȕȖȋȖ ȐșȗȖȓȤȏȖȊȈȕȐȧ

ǫȍȓȤ ȗȖȌșțȠȐȊȈȦȡȐȑ 6SRW 7UHDWPHQW *HO

ǨȘȚȐȒțȓ ȚțȉȈ ȋ ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ șȈȓȐȞȐȓȖȊȖȑ ȒȐșȓȖȚȣ ȒȖȔȗȓȍȒș Ȑȏ ȝ ǨǵǨ ȔȐȕȌȈȓȤȕȖȑ ȓȐȔȖȕȕȖȑ Ȑ ȊȐȕȕȖȑ ȗȘȖ ȊȐȚȈȔȐȕ Ǩ ǫȍȓȤ Ȍȓȧ ȔȍșȚȕȖȋȖ ȓȍȟȍȕȐȧ ȎȐȘȕȖȑ ȗȘȖȉȓȍȔȕȖȑ ȒȖȎȐ Ǫ șȖșȚȈȊ ȋȍȓȧ ȊȝȖȌȧȚ ȈȓȤȜȈ ȋȐȌȘȖȒșȐȒȐșȓȖȚȣ șȔȍșȤ ȈȞȍȚȐȓ ȔȐȕȌȈȓȤȕȖȑ ȊȐȕȕȖȑ Ȑ ȓȐȔȖȕȕȖȑ ȒȐșȓȖȚ Ȉ ȚȈȒȎȍ șȈȓȐȞȐȓȖȊȈȧ ȒȐșȓȖȚȈ Ȑ ȗȘȖ ȊȐȚȈȔȐȕ Ǩ ȅȚȖȚ țȕȐȒȈȓȤȕȣȑ ȈȕȚȐ ȈȒȕȍ ȒȖȔȗȓȍȒș șȗȖșȖȉșȚȊțȍȚ ȉȣșȚȘȖȔț ȐșȟȍȏȕȖȊȍȕȐȦ ȊȖșȗȈȓȐȚȍȓȤȕȣȝ ȥȓȍȔȍȕȚȖȊ Ȉ ȚȈȒȎȍ ȖșȊȍȚȓȍȕȐȦ ȗȧȚȍȕ ȗȖșȚ ȈȒȕȍ ǴȖȎȍȚ ȗȘȐȔȍȕȧȚȤșȧ Ȋ ȓȦȉȖȔ ȊȖȏȘȈșȚȍ Ȑ ȌȈȎȍ ȗȖȊȍȘȝ ȌȍȒȖȘȈȚȐȊȕȖȋȖ ȔȈȒȐȧȎȈ ǵȍ șȖȌȍȘȎȐȚ ȖȚȌțȠȍȒ

ǹǷǭǾǰǨǳȄǵȃǭ ǹǸǭǬǹǺǪǨ ǰǵǺǭǵǹǰǪǵǶǫǶ ǬǭǱǹǺǪǰȇ

ǲȘȍȔ Ȍȓȧ ȗȘȖȉȓȍȔȕȖȑ șțȝȖȑ ȒȖȎȐ

ǻǽǶǬ ǯǨ ǲǶǮǭǱ ǪǶǲǸǻǫ ǫǳǨǯ

ǹǷǭǾǰǨǳȄǵȃǭ ǹǸǭǬǹǺǪǨ ǰǵǺǭǵǹǰǪǵǶǫǶ ǬǭǱǹǺǪǰȇ

ǲȘȍȔ Ȍȓȧ ȊȍȒ ș ȋȓȦȒȖȕȖȓȈȒȚȖȕȖȔ

1HR6WUDWD (\H &UHDP

ǨȘȚȐȒțȓ ȚțȉȈ ȋ ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȋȓȦȒȖȕȖȓȈȒȚȖȕȈ ȊȐȚȈȔȐȕ ǭ ȥȒșȚȘȈȒȚ ȏȍȓȍȕȖȋȖ ȟȈȧ ȔȈșȓȖ ȈȊȖȒȈȌȖ ȋȐȈȓțȘȖȕȈȚ ȕȈȚȘȐȧ ȔȈșȓȖ ȗȘȐȔțȓȣ ȊȍȟȍȘȕȍȑ ȅȜȜȍȒȚȐȊȕȖȍ șȘȍȌșȚȊȖ Ȍȓȧ ȌȍȓȐȒȈȚȕȖȑ ȏȖȕȣ ȊȖȒȘțȋ ȋȓȈȏ țșȚȘȈȕȧȍȚ ȚȖȕȒȐȍ ȓȐȕȐȐ Ȑ ȔȖȘȡȐȕȣ ȕȍ ȊȣȏȣȊȈȧ ȘȈȏȌȘȈȎȍȕȐȧ ǫȓȦȒȖȕȖȓȈȒȚȖȕ țșȐȓȐȊȈȍȚ ȒȖȎȕȣȑ ȉȈȘȤȍȘ Ȋ ȘȍȏțȓȤȚȈȚȍ ȒȖȎȈ Ȕȍȕȍȍ ȗȖȌȊȍȘȎȍȕȈ ȘȈȏȌȘȈȎȍȕȐȧȔ ǫȐȈȓțȘȖȕȖȊȈȧ ȒȐșȓȖȚȈ țȔȍȕȤȠȈȍȚ șțȝȖșȚȤ Ȑ țȊȓȈȎȕȧȍȚ ȒȖȎț ȅȒșȚȘȈȒȚ ȏȍȓȍȕȖȋȖ ȟȈȧ ȔȈșȓȖ ȗȘȐȔțȓȣ ȊȍȟȍȘȕȍȑ Ȑ ȔȈșȓȖ ȈȊȖȒȈȌȖ ȖȒȈȏȣȊȈȦȚ ȘȍȋȍȕȍȘȐȘțȦȡȍȍ ȌȍȑșȚȊȐȍ ȕȈ ȌȍȓȐȒȈȚȕțȦ ȒȖȎț ȊȖȒȘțȋ ȋȓȈȏ ǩȍȏ ȖȚȌțȠȍȒ ȋȐȗȗȖȈȓȍȘȋȍȕȍȕ ȗȘȖȠȍȓ ȖȜȚȈȓȤȔȖȓȖȋȐȟȍșȒȐȑ ȒȖȕȚȘȖȓȤ

ǻǽǶǬ ǯǨ ǲǶǮǭǱ ǪǶǲǸǻǫ ǫǳǨǯ ǲȘȍȔ Ȍȓȧ ȊȍȒ ș ȓȈȒȚȖȉȐȖȕȖȊȖȑ ȒȐșȓȖȚȖȑ

1HR6WUDWD %LRQLF (\H &UHDP

ǨȘȚȐȒțȓ ȚțȉȈ ȋ ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȋȓȦȒȖȕȖȓȈȒȚȖȕȈ ȓȈȒȚȖȉȐȖȕȖȊȖȑ ȒȐșȓȖȚȣ ȒȖȔȗȓȍȒș ȗȍȗȚȐȌȖȊ ȌȘȖȎȎȍȊȖȑ ȥȒșȚȘȈȒȚ ȗȘȖ ȊȐȚȈȔȐȕ Ǩ Ȑ ȊȐȚȈȔȐȕȣ ǲ ǭ ǹ ǴțȓȤȚȐȜțȕȒȞȐȖȕȈȓȤȕȣȑ ȒȘȍȔ Ȍȓȧ ȏȖȕȣ ȊȖȒȘțȋ ȋȓȈȏ ȉȖȘȍȚșȧ ș ȚȍȔȕȣȔȐ ȒȘțȋȈȔȐ țȔȍȕȤȠȈȍȚ ȖȚȍȟȕȖșȚȤ ȗȖȊȍȘȝȕȖșȚȕȣȍ Ȑ ȋȓțȉȖȒȐȍ ȔȖȘȡȐȕȣ ǪȐȚȈȔȐȕ ǲ țȒȘȍȗȓȧȍȚ șȓȈȉȣȍ ȒȈȗȐȓȓȧȘȣ ȒȖȚȖȘȣȍ ȧȊȓȧȦȚșȧ ȗȘȐȟȐȕȖȑ ȚȍȔȕȣȝ ȒȘțȋȖȊ ȗȖȌ ȋȓȈȏȈȔȐ ǳȈȒȚȖȉȐȖȕȖȊȈȧ ȒȐșȓȖȚȈ șȗȖșȖȉșȚȊțȍȚ ȊȣȘȈȉȖȚȒȍ ȒȖȓȓȈȋȍȕȈ Ȋ ȘȍȏțȓȤȚȈȚȍ țȒȘȍȗȓȧȍȚșȧ ȔȈȚȘȐȒș ȌȍȘȔȣ ȒȖȎȈ șȚȈȕȖȊȐȚșȧ ȉȖȓȍȍ țȗȘțȋȖȑ Ȑ ȔȖȓȖȌȖȑ ȅȒșȚȘȈȒȚȣ ȏȍȓȍȕȖȋȖ ȟȈȧ Ȑ ȖȋțȘȞȈ țȔȍȕȤȠȈȦȚ ȖȚȍȟȕȖșȚȤ Ȑ țȊȓȈȎȕȧȦȚ ȒȖȎț ǵȍ șȖȌȍȘȎȐȚ ȖȚȌțȠȍȒ ȗȘȖȠȍȓ ȖȜȚȈȓȤȔȖȓȖȋȐȟȍșȒȐȑ ȒȖȕȚȘȖȓȤ ǬǶ

ǷǶǹǳǭ

ǸȍȏțȓȤȚȈȚȣ ȕȍȌȍȓȤȕȖȋȖ ȐșȗȖȓȤȏȖȊȈȕȐȧ ȒȘȍȔȈ Ȍȓȧ ȊȍȒ ș ȓȈȒȚȖȉȐȖȕȖȊȖȑ ȒȐșȓȖȚȖȑ

Ƿǰǳǰǵǫǰ

ɉɊɈɎȿɋɋɂɈɇȺɅɖɇɕȿ ɋɊȿȾɋɌȼȺ ȾɅə ɉɊɈȼȿȾȿɇɂə ɉɊɈɐȿȾɍɊɕ ȽɅɂɄɈɅȿȼɈȽɈ ɉɂɅɂɇȽȺ 1(2675$7$ 6.,1 5(-89(1$7,21 6<67(0 656

Ƿǰǳǰǵǫǰ

ǹȐșȚȍȔȈ ȖȔȖȓȖȎȍȕȐȧ ȒȖȎȐ 656 ȖȚ 1HR6WUDWD® ȘȈȏȘȈȉȖȚȈȕȈ ȕȈ ȖșȕȖȊȍ șȊȖȉȖȌȕȖȑ ȋȓȐȒȖȓȍȊȖȑ ȒȐșȓȖȚȣ ȔȖȎȍȚ ȗȘȐȔȍȕȧȚȤșȧ ȚȖȓȤȒȖ ȗȘȖȜȍșșȐȖȕȈȓȈȔȐ Ǫ șȖȟȍȚȈȕȐȐ ș șȐșȚȍȔȖȑ ȌȖȔȈȠȕȍȋȖ țȝȖȌȈ ȖȚ 1HR6WUDWD® ȗȐȓȐȕȋȐ țȓțȟȠȈȦȚ șȖșȚȖȧȕȐȍ ȒȖȎȐ țȔȍȕȤȠȈȦȚ ȗȖȊȍȘȝȕȖșȚȕȣȍ Ȑ ȋȓțȉȖȒȐȍ ȔȖȘȡȐȕȣ ȗȐȋȔȍȕȚȕȣȍ ȗȧȚȕȈ ȊȣȘȈȊȕȐȊȈȦȚ ȚȖȕ ȓȐȞȈ țșȚȘȈȕȧȦȚ șȓȍȌȣ ȖȚ ȈȒȕȍ ȋȐȗȍȘȒȍȘȈȚȖȏ ȓȍȕȚȐȋȖ

ǹȘȍȌșȚȊȖ Ȍȓȧ ȖȟȐȡȍȕȐȧ ȒȖȎȐ ȗȍȘȍȌ ȗȐȓȐȕȋȖȔ

1HR6WUDWD 2SWLPDO 3UH 3HHO &OHDQVHU

ǨȘȚȐȒțȓ ȜȓȈȒȖȕ Ȕȓ ǰșȗȖȓȤȏțȍȚșȧ ȌȖ ȕȈȕȍșȍȕȐȧ șȖșȚȈȊȈ ȗȐȓȐȕȋȈ Ȍȓȧ țȌȈȓȍȕȐȧ ȐȏȉȣȚȒȈ șȍȒȘȍȚȈ șȈȓȤȕȣȝ Ȏȍȓȍȏ Ȑ ȖȔȍȘȚȊȍȊȠȐȝ ȒȓȍȚȖȒ ȒȖȎȐ ȊȣȘȈȊȕȐȊȈȍȚ țȘȖȊȍȕȤ S+ ǵȈȕȍșȚȐ șȘȍȌșȚȊȖ ȕȈ ȊȈȚȕȣȑ ȌȐșȒ Ȑ ȖȉȘȈȉȖȚȈȚȤ Ȋșȍ ȒȖȘȘȍȒȚȐȘțȍȔȣȍ ȏȖȕȣ

ǶȟȐȡȈȦȡȐȑ ȉțșȚȍȘ

1HR6WUDWD &LWULDWH 656 &ODULI\LQJ 3HHO %RRVWHU

ǨȘȚȐȒțȓ LS ȗȖȌțȠȍȟȒȐ Ȋ ȖȌȕȖȘȈȏȖȊȖȑ țȗȈȒȖȊȒȍ ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȓȐȔȖȕȕȖȑ ȒȐșȓȖȚȣ Ȑ ȔȐȕȌȈȓȤȕȖȑ ȒȐșȓȖȚȣ Șǵ ǷȖȌțȠȍȟȒȐ ș ȖȟȐȡȈȦȡȐȔ ȥȜȜȍȒȚȖȔ șȖȌȍȘȎȈȚ ȔȐȕȌȈȓȤȕțȦ ȒȐșȓȖȚț Ȍȓȧ ȕȖȘȔȈȓȐȏȈȞȐȐ șȖșȚȖȧȕȐȧ ȎȐȘȕȖȑ ȒȖȎȐ Ȑ ȒȖȎȐ șȒȓȖȕȕȖȑ Ȓ ȈȒȕȍ

ǷȘȐȔȍȕȍȕȐȍ ȊșȒȘȣȚȤ țȗȈȒȖȊȒț Ȑ ȖȉȘȈȉȖȚȈȚȤ ȒȖȎț ȗȍȘȍȌ ȕȈȕȍșȍȕȐȍȔ ȗȐȓȐȕȋȖȊȖȋȖ ȘȈșȚȊȖȘȈ ǪȘȍȔȧ ȥȒșȗȖȏȐȞȐȐ ȔȐȕțȚȣ ȕȍ șȔȣȊȈȚȤ

ǶșȊȍȚȓȧȦȡȐȑ ȉțșȚȍȘ

1HRVWUDWD &LWULDWH 656 %ULJKWHQLQJ 3HHO %RRVWHU

Ƿǰǳǰǵǫǰ

ǨȘȚȐȒțȓ LS ȗȖȌțȠȍȟȒȐ Ȋ ȖȌȕȖȘȈȏȖȊȖȑ țȗȈȒȖȊȒȍ ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ȓȐȔȖȕȕȖȑ ȒȐșȓȖȚȣ ȒȖȑȍȊȖȑ ȒȐșȓȖȚȣ Ȑ ȈȘȉțȚȐȕȈ Șǵ ǷȖȌțȠȍȟȒȐ ș ȖșȊȍȚȓȧȦȡȐȔ ȥȜȜȍȒȚȖȔ ǹȖȌȍȘȎȈȚ ȖșȊȍȚȓȧȦȡȐȍ ȈȋȍȕȚȣ ȒȖȑȍȊțȦ ȒȐșȓȖȚț Ȑ ȈȘȉțȚȐȕ ǷȘȐȔȍȕȧȦȚșȧ Ȍȓȧ ȖșȊȍȚȓȍȕȐȧ ȗȐȋȔȍȕȚȕȣȝ ȗȧȚȍȕ Ȑ ȊȣȘȈȊȕȐȊȈȕȐȧ ȚȖȕȈ ȒȖȎȐ

ǸȈșȚȊȖȘ ȋȓȐȒȖȓȍȊȖȑ ȒȐșȓȖȚȣ

ǨȒȚȐȊȕȣȍ ȐȕȋȘȍȌȐȍȕȚȣ ǹȖȌȍȘȎȈȚ șȊȖȉȖȌȕțȦ ȋȓȐȒȖȓȍȊțȦ ȒȐșȓȖȚț

ǷȘȐȔȍȕȍȕȐȍ ǵȈȕȖșȐȚȤ ȒȐșȚȤȦ ȕȈ ȖȉȘȈȉȈȚȣȊȈȍȔȣȍ ȏȖȕȣ ȊȘȍȔȧ ȥȒșȗȖȏȐȞȐȐ ȔȐȕțȚȣ ǪȣȗțșȒȈȦȚșȧ Ȋ ȝ ȘȈȏȓȐȟȕȣȝ ȒȖȕȞȍȕȚȘȈȞȐȧȝ ȘȈșȚȊȖȘ ȋȓȐȒȖȓȍȊȖȑ ȒȐșȓȖȚȣ Șǵ ǨȘȚȐȒțȓ ȜȓȈȒȖȕ Ȕȓ ȘȈșȚȊȖȘ ȋȓȐȒȖȓȍȊȖȑ ȒȐșȓȖȚȣ Șǵ ǨȘȚȐȒțȓ ȜȓȈȒȖȕ Ȕȓ ȘȈșȚȊȖȘ ȋȓȐȒȖȓȍȊȖȑ ȒȐșȓȖȚȣ Șǵ ǨȘȚȐȒțȓ ȜȓȈȒȖȕ Ȕȓ ȘȈșȚȊȖȘ ȋȓȐȒȖȓȍȊȖȑ ȒȐșȓȖȚȣ Șǵ ǨȘȚȐȒțȓ ȜȓȈȒȖȕ Ȕȓ

ǸȈșȚȊȖȘ Ȍȓȧ ȗȐȓȐȕȋȈ +LJK 3RWHQF\ 3HHO

1HR6WUDWD +LJK 3RWHQF\ 3HHO

ǨȘȚȐȒțȓ ȜȓȈȒȖȕ Ȕȓ ǵȈȘȧȌț ș ȋȓȐȒȖȓȍȊȖȑ ȒȐșȓȖȚȖȑ șȖȌȍȘȎȐȚ ȊșȗȖȔȖȋȈȚȍȓȤȕȣȍ ȖȚȠȍȓțȠȐȊȈȦȡȐȍ ȈȋȍȕȚȣ țȒșțșȕțȦ ȒȐșȓȖȚț ȥȚȐȓȗȐȘțȊȈȚ Ȑ șȊȧȏțȦȡȐȑ ȘȈșȚȊȖȘ ȕȈ ȖșȕȖȊȍ ȗȘȖȗȐȓȍȕȋȓȐȒȖȓȧ ȖȉȍșȗȍȟȐȊȈȦȡȐȑ ȉȖȓȍȍ ȘȈȊȕȖȔȍȘȕȖȍ ȗȘȖȕȐȒȕȖȊȍȕȐȍ șȘȍȌșȚȊȈ ȊȋȓțȉȤ ȒȖȎȐ ǷȘȍȌȕȈȏȕȈȟȍȕ Ȍȓȧ Țȍȝ ȗȈȞȐȍȕȚȖȊ ȒȖȚȖȘȣȍ ȗȍȘȍȕȖșȧȚ ȌȍȑșȚȊȐȍ ȋȓȐȒȖȓȍȊȖȑ ȒȐșȓȖȚȣ ȐȓȐ Ȍȓȧ ȒȖȘȘȍȒȞȐȐ țșȚȖȑȟȐȊȣȝ ȜȖȘȔ ȈȒȕȍ

ǵȍȑȚȘȈȓȐȏțȦȡȐȑ ȘȈșȚȊȖȘ ȗȖșȓȍ ȗȐȓȐȕȋȈ

ǨȘȚȐȒțȓ ȜȓȈȒȖȕ ș ȘȈșȗȣȓȐȚȍȓȍȔ Ȕȓ ǨȘȚȐȒțȓ ȜȓȈȒȖȕ ȓ ǷȘȍȌșȚȈȊȓȧȍȚ șȖȉȖȑ ȜȐȏȐȖȓȖȋȐȟȍșȒȐȑ ȘȈșȚȊȖȘ ǰșȗȖȓȤȏțȍȚșȧ Ȍȓȧ ȉȣșȚȘȖȋȖ ȗȘȍȒȘȈȡȍȕȐȧ ȌȍȑșȚȊȐȧ ȋȓȐȒȖȓȍȊȖȑ ȒȐșȓȖȚȣ ǷȖșȓȍ ȗȘȐȔȍȕȍȕȐȧ șȔȣȚȤ ȗȘȖȝȓȈȌȕȖȑ ȊȖȌȖȑ

Ƿǰǳǰǵǫǰ

1HR6WUDWD 3HHO 1HXWUDOL]HU

The Science of Great Skin

ǷȖ ȊȖȗȘȖșȈȔ ȖȉțȟȍȕȐȧ Ȑ ȗȘȐȖȉȘȍȚȍȕȐȧ ȗȘȖȌțȒȞȐȐ ȖȉȘȈȡȈȚȤșȧ ǴȖșȒȊȈ ǲȈȓȖȠȐȕ ȗȍȘȍțȓȖȒ Ȍ șȚȘȖȍȕȐȍ Țȍȓ ȔȕȖȋȖȒȈȕȈȓȤȕȣȑ