Apr1309Complete by Daily Egyptian

.03& 0/ 4*6%& $0.

1IPUP HBMMFSZ $IFDL PVU FYUSBT GSPN UIF TVOSJTF DFSFNPOZ BU #BME ,OPC $SPTT PO (VT #PEF T TBWWZ 'MJDLS QBHF 1IPUP HBMMFSZ A*OEJB /JHIU TFSWFE VQ DVMUVSF BOE GBTIJPO OPX XF EJTI PVU TUVOOJOH QIPUPHSBQIZ .PWJF SFWJFX 8FT HJWFT A0CTFSWF BOE 3FQPSU B GJSTU SBUF SFWJFX GPS CJH MBVHIT

5PEBZ )JHI -PX 5VFTEBZ )JHI -PX 8FEOFTEBZ )JHI -PX

%ĒĚĝĪ &ĘĪġĥĚĒğ .0/%":

$0-6./ 1"(& (VT #PEF TBZT )BOHBS DPNF CBDL

"13*-

70-6.& /0

1"(&4

4VOSJTF TFSWJDF ESBXT NPSF UIBO UP #BME ,OPC -BOF $ISJTUJBOTFO #BSUPO -PSJNPS %"*-: &(:15*"/

" -50 1" 44 .PTU PG UIF #BME ,OPC $SPTT PG 1FBDF T NFUBM MJD QBOFMT XFSF NJTTJOH CVU UIBU EJE OPU TUPQ B DSPXE GSPN HBUIFSJOH UIFSF GPS UIF BOOVBM TVOSJTF &BTUFS TFSWJDF 4VOEBZ 3PVHIMZ QFPQMF TBU PO BMV NJOVN CFODIFT BOE PO UIF HSBTT JO BO PVUEPPS BNQIJUIFBUFS BU UIF DSPTT CBTF CZ B N )FSSJO SFTJEFOU 4JFSSB ,JOH TBJE UIF QVCMJDJUZ BOE UIF OFFE GPS EPOB UJPOT GPS UIF DSPTT XFSF TPNF PG UIF GBDUPST UIBU CSPVHIU UIF DSPXE

¶¶*

KVTU UIJOL JU T HSFBU UIBU OPX UIF DPNNVOJUZ JT DPNJOH UPHFUIFS BOE BSF HPJOH UP HFU JU CBDL UP JUT PSJHJOBM HMPSZ

4JFSSB ,JOH )FSSJO SFTJEFOU

i5IFSF XFSF B MPU NPSF QFPQMF UIJT ZFBS UIBO UIFSF XFSF MBTU ZFBS w ,JOH TBJE "GUFS ZFBST PG BUUFOEJOH UIF TVOSJTF TFSWJDF ,JOH BOE IFS QBSU OFS %BOOZ .BKPST IBE BOPUIFS SFBTPO GPS TIPXJOH VQ UIJT ZFBS 5IFJS NPOUI PME EBVHIUFS -JMZ XPVME CF EFEJDBUFE BGUFS UIF TFS WJDF CZ UIF 3FW 4UFWFO .D,FPXO QSFTJEFOU PG UIF DSPTT UFNQPSBSZ CPBSE PG EJSFDUPST ,JOH XBT EFEJ DBUFE BU UIF DSPTT XIFO TIF XBT XFFLT PME .D,FPXO TBJE PG UIF XIJUF

-"/& $)3*45*"/4&/ ] % "*-: & (:15*"/ 0QBM $PQQMF MFGU PG #BMEXJO IPMET B CMBOLFU UJHIU BSPVOE IFS HSBOETPO +PTFQI $PQQMF UP LFFQ IJN XBSN XIJMF +PTFQI T GBUIFS 1IJMJQ $PQQMF DSBEMFT IJT EBVHIUFS +FOOJGFS $PQQMF EVSJOH UIF TU "OOVBM &BTUFS 4VOSJTF 4FSWJDF 4VOEBZ BU #BME ,OPC $SPTT QBOFMT XFSF SFNPWFE BT QBSU PG B NBTTJWF SFOPWBUJPO QSPKFDU PG UIF ZFBS PME GPPU UBMM NPOVNFOU 5IF MPOH BXBJUFE SFOPWBUJPO IBE CFFO PO IPME GPS UXP ZFBST CFDBVTF PG B MBXTVJU JOWPMWJOH GPS

NFS CPBSE NFNCFST

TJV%& DPN

4&& NPSF QIPUPT PG UIF TVOSJTF TFSWJDF POMJOF

5IPVHI BO PGGJDJBM CVEHFU IBT OPU CFFO FTUBCMJTIFE .D,FPXO TBJE IF FYQFDUT UIF SFOPWBUJPO UP DPTU BU MFBTU UP SFQMBDF UIF QBOFMT BOE SFQBJOU UIF DSPTT JOOFS TVQQPSU CFBNT

i8F EPO U LOPX BCPVU SFQBJST GPS UIF JOGSBTUSVDUVSF w IF TBJE i5IF SPVUF XF UBLF XJMM EFUFSNJOF IPX NVDI w 4FF 46/3*4& ]

4UBUF GFEFSBM GVOET EFQFOE PO VOJWFSTJUZ DPPQFSBUJPO 4UFSNFS EJEO U QVMM BOZ QVODIFT UIPTF FGGJDJFODJFT CVU (PMENBO TBJE BOE IF EJEO U UFMM VT BOZUIJOH XBT TQFDJGJDT XPVME OPU CF BWBJMBCMF VOUJM UIFZ BSF NBEF GJOBM B TVSF EFBM w "OE (PMENBO TBJE UIF VOJ " T UIF VOJWFSTJUZ XBJUT UP MFBSO 2VJOO SFMFBTFE B CVEHFU QSP UIF BNPVOU PG BQQSPQSJBUJPOT JU QPTBM MBTU NPOUI UIBU XPVME HJWF WFSTJUZ T QSPQPTBM PG B QFS HFUT GSPN UIF TUBUF BOE GFEFSBM UIF VOJWFSTJUZ NJMMJPO GSPN DFOU UVJUJPO JODSFBTF GPS JODPNJOH HPWFSONFOUT JUT QBZEBZ XJMM MJLFMZ UIF TUBUF SPVHIMZ IJOHF PO JUT BCJMJUZ UP GPMMPX B TFU PG NJMMJPO NPSF G UIF TUBUF JT HPJOH UP USZ BOE HJWF VT SFHVMBUJPOT GSPN CPUI MFWFMT UIBO 4*6 SFDFJWFE 4*6 1SFTJEFOU (MFOO 1PTIBSE MBTU ZFBS BEEJUJPOBM GVOET UIFZ XBOU UP TFF UIF NFU XJUI TUBUF PGGJDJBMT JODMVEJOH )PXFWFS UIF LJOE PG CVEHFUT UIBU BSF (PW 1BU 2VJOO T $IJFG PG 4UBGG CVEHFU TUJMM IBT UP FGGJDJFOU #VU BU UIJT TUBHF UIFSF BSF OP +FSSZ 4UFSNFS MBTU XFFL UP EJT QBTT UISPVHI UIF DVTT UIF QPUFOUJBM BNPVOU PG TUBUF TUBUF MFHJTMBUVSF BOE HVBSBOUFFT XJMM MJLFMZ CF SFUPPMFE BQQSPQSJBUJPOT (MFOO 1PTIBSE 4*6 QSFTJEFOU 1PTIBSE TBJE JG UIF VOJWFSTJUZ 1PTIBSE TBJE GSFTINFO JT MJLFMZ UP CF DVU JO IBMG XBOUT UP NBYJNJ[F JUT BQQSPQSJB *O UIF NFBOUJNF UIF VOJWFSTJUZ UJPOT JU XPVME IBWF UP HBJO QVCMJD IBT UBLFO B QSPBDUJWF BQQSPBDI UP UP QFSDFOU XIFO UIF 4*6 #PBSE TVQQPSU GPS DBQJUBM JNQSPWFNFOUT UXP PG UIF UISFF HVJEFMJOFT TFU PG 5SVTUFFT WPUF PO .BZ FOBDU BOZ BOE BMM FGGJDJFODJFT JOUP GPSUI CZ UIF TUBUF i8F WF IBE B MPU PG EJTDVTTJPOT JUT CVEHFU BOE LFFQ JUT UVJUJPO SBUFT 1PTIBSE BOE $IBODFMMPS 4BN XJUI WJDF DIBODFMMPST BOE EFBOT BOE (PMENBO IBWF IFME OVNFSPVT NFFU UIFZ IBWF CFFO UBMLJOH UP PUIFST w BU B NJOJNVN i*U XBT B WFSZ QPTJUJWF NFFUJOH w JOHT XJUI BENJOJTUSBUPST UP EJTDVTT (PMENBO TBJE i#VU XIFO UIF UJNF 1PTIBSE TBJE i#VU BU UIF TBNF XBZT UP NBLF UIF VOJWFSTJUZ NPSF DPNFT XF TJNQMZ EPO U LOPX 8F BSF UJNF JU XBT B WFSZ IPOFTU NFFUJOH FGGJDJFOU #PUI NFU 'SJEBZ UP EJTDVTT XPSLJOH PGG UIF HPWFSOPS T CVEHFU w

#SJBO 'FMEU %"*-: &(:15*"/ #'&-%5!4*6 &%6

¶¶*

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i8F BSF HPJOH UP DPNQFUF GPS FWFSZ QFOOZ w 1PTIBSE TBJE i*G UIF TUBUF JT HPJOH UP USZ BOE HJWF VT BEEJUJPOBM GVOET UIFZ XBOU UP TFF UIF LJOE PG CVEHFUT UIBU BSF FGGJDJFOU #VU BU UIJT TUBHF UIFSF BSF OP HVBSBOUFFT w

)F THE UNIVERSITY WANTS TO RECEIVE THE MAXIMUM AMOUNT OF STATE FUNDING IT WILL HAVE TO FOLLOW THREE REGULATIONS SET FORTH BY STATE LEGISLATORS

'AIN PUBLIC SUPPORT FOR CAPITAL IMPROVEMENTS %NACT ANY AND ALL

EFFICIENCIES INTO ITS BUDGET

+EEP TUITION RATES AT A MINIMUM

3OURCE 3)5 0RESIDENT 'LENN 0OSHARD 0ABLO 4OBON \ $!),9 %'904)!.

.POEBZ "QSJM

&#+.; ');26+#0

/FXT

-"/& $)3*45*"/4&/ ] % "*-: & (:15*"/ 3ZBO 5PXMF BOE IJT XJGF 4BSBI MFGU TJU XJUI UIFJS GSJFOET +BTPO 1JOLTPO BOE IJT XJGF &SJO VOEFS B CMBOLFU UP LFFQ XBSN OFBS PUIFS QFPQMF BUUFOEJOH UIF TU "OOVBM &BTUFS 4VOSJTF 4FSWJDF 4VOEBZ BU #BME ,OPC $SPTT 5IF GPVS BSF BMM 4*6$ HSBEVBUFT

46/3*4&

$0/5*/6&% '30.

$SPTT PGGJDJBMT IBWF SBLFE JO UIPVTBOET PG EPMMBST JO QSJWBUF EPOBUJPOT GPS UIF NPOVNFOU T SFOPWBUJPO 'SJFOET PG UIF $SPTT BO PSHBOJ[BUJPO TFQBSBUF GSPN UIF

CPBSE PG EJSFDUPST IBT SBJTFE OFBSMZ UISPVHI EPOBUJPOT BOE GVOESBJTFST .D,FPXO TBJE $IVSDIFT UISPVHIPVU TPVUIFSO *MMJOPJT UPPL B TQFDJBM DPMMFDUJPO EVS JOH UIF 1BMN 4VOEBZ XPSTIJQ TFSWJDFT $MFSHZ BTLFE UIFJS DPOHSFHBUJPOT UP DPOUSJCVUF QFS QFSTPO .D,FPXO

$BMFOEBS

TBJE JU XBT ZFU UP CF EFUFSNJOFE IPX NVDI UIPTF DPMMFDUJPOT HBUIFSFE ,JOH TBJE JU XPVME CF TBE UP TFF UIF DSPTT GBMM i* KVTU UIJOL JU T HSFBU UIBU OPX UIF DPNNVOJUZ JT DPNJOH UPHFUIFS BOE BSF HPJOH UP HFU JU CBDL UP JUT PSJHJOBM HMPSZ w ,JOH TBJE

$PSSFDUJPOT

4UVEFOU "MVNOJ $PVODJM .FFUJOH t UPEBZ BU UIF 4UVEFOU $FOUFS #BMMSPPN " t 8FFLMZ NFFUJOH XJMM CF IPMEJOH PGGJDFS OPNJOBUJPOT BOE WPUJOH PO 4"$ BXBSET

&EVDBUJPO (BUFXBZ UP 4VDDFTT "SU $POUFTU t Q N 5VFTEBZ BU UIF 4UPOF $FOUFS %PVHMBT %S t &YIJCJU PG XJOOJOH BSU BOE XJOOFST BXBSEFE t 3FDFQUJPO GPMMPX QSPHSBN

*G ZPV TQPU BO FSSPS QMFBTF DPOUBDU UIF %"*-: &(:15*"/ BU FYU

3&"$)*/( 64

%&4*(/ $)*&' +".*& %3&/%&-

8&# &%*503 &95

$*5: &%*503 #3"/%: 09'03%

&95

$".164 &%*503 #3*"/ '&-%5

&95

1)0/& "% '"9 &."*- &%*503!4*6%& $0.

5:-&3 +"$,40/ #64*/&44 "% %*3&$503 +&33: #64)

&%*503 */ $)*&' "--*40/ 1&55:

&95

."/"(*/( &%*503 +&'' &/(&-)"3%5

&95

410354 &%*503 -6*4 $ .&%*/"

&95

"%7&35*4*/( ."/"(&3 ;"$) &/(-6.

&95

70*$&4 &%*503 4"3") -0)."/

&95

'"$6-5: ."/"(*/( &%*503 &3*$ '*%-&3

&95

"$$06/5"/5 %&##*& $-":

&95

16-4& &%*503 -6,& .$$03.*$,

$-"44*'*&% ."/"(&3 "3*"/%& $)".#&34

&95

1*$563& &%*503 -"/& $)3*45*"/4&/

&95

#64*/&44 0''*$& #3"/%* )"33*4

&95

/&8 .&%*" &%*503 +6-*" 3&/%-&."/

&95

#-",& .6-)0--"/%

&95

(3"1)*$4 &%*503 1"#-0 50#0/

&95

$*3$6-"5*0/

&95

8&# "% ."/"(&3 ."55 $308&--

"% 130%6$5*0/ ."/"(&3 5*''"/: $0$)3"/

.*$30 $0.165&3 41&$*"-*45 ,&--: 5)0."4

&95

13*/54)01 461&3*/5&/%&/5

ZZZ VLX'( FRP

&#+.; ');26+#0

/FXT

.POEBZ "QSJM

4BOTLSJUJ TIPXDBTFT *OEJBO DVMUVSF + VMJB 3FOEMFNBO %"*-: &(:15*"/

+.3&/%-!4*6 &%6

' SPN TPNF PG UIF FBSMJFTU #PMMZXPPE UVOFT UP UIF NPTU SFDFOU GBTIJPOT NPSF UIBO QFPQMF DFMFCSBUFE *OEJB T DVMUVSF BOE IJTUPSZ 5IF UI BOOVBM 4BOTLSJUJ BO FWFOU PSHB OJ[FE CZ UIF *OEJBO 4UVEFOU "TTPDJBUJPO ESFX NPSF UIBO QFPQMF UP UIF $JWJD $FOUFS 4BUVSEBZ $IJMESFO BOE BEVMUT XJUI DBNFSBT TBU EJSFDUMZ JO GSPOU PG UIF TUBHF BT FNDFFT 4ISJ 1FOEBLVS BOE $BSNFM 3BP MFE UIF QBDLFE IPVTF UISPVHI B GVMM OJHIU PG FWFOUT 5IF QSPHSBN GFBUVSFE TPOHT EBODFT TLJUT BOE B GBTIJPO TIPX 4*6$ $IBODFMMPS 4BN (PMENBO PQFOFE UIF OJHIU T FWFOUT XJUI B USBEJUJPOBM iMBNQ MJHIUJOHw GPMMPXFE CZ B TIPSU TQFFDI (PMENBO UIBOLFE UIF *OEJBO TUVEFOU QPQVMB UJPO GPS UIFJS DPNNJUNFOU UP i4BMVLJ QSJEF w BOE TBJE *OEJBO TUVEFOUT iQSPCBCMZ SFQSFTFOU UIF MBSHFTU QPSUJPO PG JOUFSOBUJPOBM TUVEFOUT PO DBNQVT i5IJT HSFBU VOJWFSTJUZ JT NBEF FWFO HSFBUFS CFDBVTF PG ZPV BMM IFSF w IF TBJE .BEIV /BMBNBUJ WJDF QSFTJEFOU PG UIF *OEJBO 4UVEFOU "TTPDJBUJPO TBJE UIF QVSQPTF PG *OEJB /JHIU JT UP HBUIFS *OEJBOT JO $BSCPOEBMF XIP EP OPU VTVBMMZ IBWF B DIBODF UP TPDJBMJ[F i*U T IBSE UP HFU UP LOPX QFPQMF EVSJOH VOJ WFSTJUZ UJNF XIFO XF BSF EPJOH PVS DPVSTF XPSL w IF TBJE *OEJB /JHIU JT BMTP B UJNF UP TIPXDBTF *OEJBO GPPE BOE DVMUVSF i5IFSF JT NVDI NPSF UP *OEJBO DVMUVSF UIBO XIBU ZPV NJHIU TFF JO 4MVNEPH .JMMJPOBJSF w /BMBNBUJ TBJE .FNCFST PG UIF $BSCPOEBMF DPNNVOJUZ 4*6$ GBDVMUZ BOE MPDBM CVTJOFTTFT MFOU UIFJS TVQ QPSU UP *OEJB OJHIU &WFO TPNF BMVNOJ SFUVSOFE UP $BSCPOEBMF UP TIPX UIFJS BQQSFDJBUJPO GPS UIF DVMUVSBM PDDBTJPO

+FOOJGFS 1JOUP B HSBEVBUF TUVEFOU JO BDDPVOU JOH QBSUJDJQBUFE JO UIF GBTIJPO TIPX XIJDI GFBUVSFE CPUI USBEJUJPOBM *OEJBO ESFTT BT XFMM BT XFTUFSO TUZMF DMPUIJOH i"T *OEJBO HJSMT XF XBOU UP TIPX B MJUUMF *OEJBO DVMUVSF CVU BMTP TIPX IPX XF WF BEBQUFE UP UIF "NFSJDBO DVMUVSF w TIF TBJE 5IF GBTIJPO TIPX XIJDI JODPSQPSBUFE DIP SFPHSBQIFE *OEJBO TPOH BOE EBODF XBT B DSPXE QMFBTFS Â&#x2030; ESBXJOH TIPVUJOH BOE DIFFSJOH GSPN UIF TUVEFOUT JO UIF DSPXE )BSJOJ 3BNBQSBTBE BO BTTJTUBOU QSPGFTTPS JO DPNQVUFS FOHJOFFSJOH QFSGPSNFE TFWFSBM PME #PMMZXPPE TPOHT

$BSNFM 3BP B HSBEVBUF TUVEFOU JO FMFDUSJDBM BOE DPNQVUFS FOHJOFFSJOH QFSGPSNT B TLJU EVSJOH *OEJB /JHIU BU UIF $BSCPOEBMF $JWJD $FOUFS PO 4BUVSEBZ 3BP XBT POF PG UXP FNDFFT BU UIF FWFOU XIJDI DFMFCSBUFE *OEJBO DVMUVSF BOE GPPE +6-*" 3&/%-&."/ % "*-: & (:15*"/ i#PMMZXPPE JT B IVHF QBSU PG *OEJBO DVMUVSF IPQF UIBU *OEJB /JHIU XPVME MFBWF BVEJFODF BOE TPOH JT B IVHF QBSU PG UIBU w TIF TBJE NFNCFST XJUI B CFUUFS VOEFSTUBOEJOH PG UIF "T 3BNBQSBTBE UPPL UIF TUBHF UIF FNDFFT DVMUVSF BOE GPPE PG *OEJB SPVTFE PMEFS BVEJFODF NFNCFST QVUUJOH UIFN PO i*OEJB JT TP NVDI NPSF UIBO UIF TUFSFPUZQFT UIF TQPU UP SFDBMM MZSJDT UP UIF PME #PMMZXPPE UVOFT Â&#x2030; TOBLF DIBSNFST BOE TVDI w +PTIJ TBJE "MUIPVHI *OEJB /JHIU QSPWJEFE BO PQQPS 'PS TPNF TUVEFOUT TVDI BT "NJ +PTIJ B TPQIPNPSF GSPN 4DIBNCVSH TUVEZJOH IFBMUI DBSF UVOJUZ GPS *OEJBO TUVEFOUT UP JOUFSBDU BOE NBOBHFNFOU QBSUJDJQBUJOH JO *OEJB /JHIU XBT B NJOHMF XJUI PUIFS NFNCFST PG UIF *OEJBO DPNNVOJUZ /BMBNBUJ SFJUFSBUFE UIF OJHIU DIBODF UP DPOOFDU XJUI IFS *OEJBO IFSJUBHF i* WF CFFO IFSF JO "NFSJDB TJODF * XBT TP JT BCPVU CSJOHJOH QFPQMF GSPN BMM EJGGFSFOU * WF IBE UP BEBQU UP UIF *OEJBO DVMUVSF NPSF UIBO DVMUVSFT UPHFUIFS UIF "NFSJDBO DVMUVSF w +PTIJ TBJE i5IF UIFNF JT NVTJD Â&#x2030; *OEJB OJHIU JT BMM 4BOTLSJUJ QSPWJEFE B GVO OJHIU PG DVM BCPVU NVTJD Â&#x2030; BOE TQJDZ GPPE &WFSZPOF JT XFM UVSBM MFBSOJOH .BOZ QBSUJDJQBOUT FYQSFTTFE DPNF UP TIBSF JO UIBU w /BMBNBUJ TBJE

914.& 0#6+10

.POEBZ "QSJM

/FXT

*SBR T FNCBUUMFE $ISJTUJBOT DFMFCSBUF &BTUFS 4IJQ DBQUBJO GSFFE GSPN QJSBUFT &MJ[BCFUI " ,FOOFEZ 5)& "440$*"5&% 13&44

-"*5) )"..06%* ] . $ $ -"5$): 53*#6/& $ISJTUJBOT HBUIFS GPS 4VOEBZ .BTT BU #BHIEBE T -BEZ PG 4BMWBUJPO $IVSDI JO *SBR 8PSTIJQFST TBJE UIJT &BTUFS JT TBGFS JO *SBR UIBO JO SFDFOU ZFBST CVU TUJMM OPU BT TFDVSF BT CFGPSF UIF 6 4 MFE JOWBTJPO

,BUBSJOB ,SBUPWBD

QSBZFST GPS BO FOE UP UIF WJPMFODF i(PE QSPUFDU VT BOE SJE PVS DPVOUSZ PG EJTQVUFT BOE RVBSSFMT MFU #"( ) %" % *SBR T JU CF GSFF PG IBUSFE BOE IPTUJMJUJFT w FNCBUUMFE $ISJTUJBOT UPPL BEWBOUBHF $BSEJOBM &NNBOVFM ** %FMMZ TBJE PG JNQSPWFE TFDVSJUZ BOE HBUIFSFE EVSJOH TFSWJDFT JO #BHIEBE T .BOTPVS 4VOEBZ UP DFMFCSBUF &BTUFS FWFO EJTUSJDU XIJDI XFSF CSPBEDBTU PO BT SPBETJEF CPNCJOHT LJMMFE B 6 4 TUBUF UFMFWJTJPO TPMEJFS BOE XPVOEFE GPVS PUIFS "CPVU $ISJTUJBOT BUUFOEFE "NFSJDBOT JO TFQBSBUF BUUBDLT TFSWJDFT BU UIF 7JSHJO .BSZ $IVSDI OPSUI PG #BHIEBE JO UIF TPVUIFSO DJUZ PG #BTSB XIFSF 5FOT PG UIPVTBOET PG $ISJTUJBOT 4IJJUF NJMJUJBNFO SVMFE UIF TUSFFUT IBWF GMFE UIF DPVOUSZ TJODF UIF VOUJM BO *SBRJ HPWFSONFOU PGGFOTJWF DPMMBQTF PG 4BEEBN )VTTFJO T SFHJNF MBTU ZFBS *U XBT CFMJFWFE UP CF UIF MBSHFTU BOE UIF SJTF PG *TMBNJD FYUSFNJTUT TVDI BT BM 2BJEB JO *SBR 5IPTF XIP BUUFOEBODF BU UIF #BTSB DIVSDI SFNBJOFE MJWF JO GFBS PG LJEOBQQJOH TJODF BOE BTTBTTJOBUJPO *O UIF OPSUIFSO DJUZ PG .PTVM #VU XJUI CFUUFS TFDVSJUZ JO XIFSF 4VOOJ JOTVSHFOUT SFNBJO #BHIEBE BOE NBOZ PUIFS DJUJFT BDUJWF NPTU $ISJTUJBOT BWPJEFE $ISJTUJBOT UVSOFE PVU GPS &BTUFS QVCMJD QMBDFT TVDI BT QBSLT BOE TFSWJDFT 4VOEBZ BOE QSJFTUT PGGFSFE SFTUBVSBOUT QSFGFSSJOH UP DFMFCSBUF 5)& "440$*"5&% 13&44

UIF IPMJEBZ BU IPNF -BTU ZFBS UIPVTBOET PG $ISJTUJBOT GMFE .PTVM BGUFS B TFSJFT PG BTTBTTJOBUJPOT PG $ISJTUJBOT .BOZ PG UIFN TPVHIU SFGVHFF JO NPTUMZ $ISJTUJBO WJMMBHFT PVUTJEF UIF DJUZ XIFSF QFPQMF TQFOU UIF BGUFSOPPO JO QBSLT SFTUBVSBOUT BOE DPNNVOJUZ TPDJBM DMVCT (FPSHF .BUUJ GSPN .PTVM T FBTUFSO ;VIPS OFJHICPSIPPE BUUFOEFE .BTT BU UIF MPDBM DIVSDI BOE UIFO IVSSJFE IPNF UP IJT XJGF BOE GJWF TPOT i8F BSF BTLJOH +FTVT UP IFMQ PVS CFMPWFE *SBR BOE UP IFMQ BMM $ISJTUJBOT JOTJEF BOE PVUTJEF *SBR UP SFUVSO UP UIFJS IPNFT w TBJE .BUUJ XIP VSHFE BVUIPSJUJFT UP GVMGJMM UIFJS QSPNJTF UP TFDVSF UIF DJUZ NJMFT LJMPNFUFST OPSUI PG #BHIEBE "NFSJDBO USPPQT BMTP BUUFOEFE

TVOSJTF TFSWJDFT BU 6 4 CBTFT BDSPTT UIF DPVOUSZ "CPVU TPMEJFST TBOH IZNOT BOE MJTUFOFE UP B NJMJUBSZ CBOE BU TFSWJDFT BU $BNQ -JCFSUZ PO UIF XFTUFSO FEHF PG #BHIEBE $ISJTUJBOT NBEF VQ BCPVU QFSDFOU PG *SBR T NJMMJPO QFPQMF XIFO UIF XBS CFHBO JO 5IF FYBDU OVNCFS PG $ISJTUJBOT SFNBJOJOH JO *SBR JT VODMFBS CVU FTUJNBUFT QVU UIF GJHVSF BU TFWFSBM IVOESFE UIPVTBOE %FTQJUF UIF JNQSPWFNFOU JO TFDVSJUZ BUUBDLT DPOUJOVF "O "NFSJDBO TPMEJFS XBT GBUBMMZ JOKVSFE 4VOEBZ JO B SPBETJEF CPNCJOH JO 4BMBIVEEJO QSPWJODF OPSUI PG #BHIEBE UIF 6 4 NJMJUBSZ TBJE /P GVSUIFS EFUBJMT XFSF SFMFBTFE *U XBT UIF TJYUI 6 4 DPNCBU EFBUI TJODF 'SJEBZ XIFO GJWF "NFSJDBO TPMEJFST XFSF LJMMFE CZ B TVJDJEF USVDL CPNCFS JO .PTVM

(BZ 8FTU 1PJOU HSBE UBLFT PO CBO PO TFSWJOH PQFOMZ %BWJE $SBSZ 5)& "440$*"5&% 13&44

8*3& 3&10354

/ &8 :03, "T B DBEFU BU UIF 6 4 .JMJUBSZ "DBEFNZ %BO $IPJ GBDFE BO FUIJDBM EJMFNNB 5IF BDBEFNZ T IPOPS DPEF XBT DMFBS CFHJOOJOH i" DBEFU XJMM OPU MJF w :FU BT B HBZ NBO $IPJ GFMU CPVOE CZ UIF NJMJUBSZ T iEPO U BTL EPO U UFMMw QPMJDZ UP CF VOUSVUIGVM BCPVU XIP IF XBT -BTU NPOUI TJY ZFBST BGUFS IJT HSBEVBUJPO BOE UXP ZFBST BGUFS TFSWJOH JO *SBR $IPJ DBNF PVU FWFO UIPVHI IF SFNBJOT BO JOGBOUSZ PGGJDFS JO UIF "SNZ /BUJPOBM (VBSE )JT BOOPVODFNFOU JO NJE .BSDI XBT QBSU PG UIF MBVODI PG ,OJHIUT 0VU UIF GJSTU BTTPDJBUJPO

SFQSFTFOUJOH HBZ BOE MFTCJBO BMVNOJ PG 8FTU 1PJOU "MSFBEZ JU IBT BU MFBTU NFNCFST XIP WF QVCMJDMZ JEFOUJGJFE UIFNTFMWFT PO UIF HSPVQ T 8FC TJUF *UT TUBUFE NJTTJPO JT UP BEWPDBUF GPS SFQFBM PG iEPO U BTL EPO U UFMMw TP UIBU HBZT DBO TFSWF PQFOMZ JO UIF NJMJUBSZ BOE UP IFMQ QSFQBSF UIF 8FTU 1PJOU DPNNVOJUZ UP CF FGGFDUJWF MFBEFST BGUFS UIBU QPMJDZ DIBOHF PDDVST 6OEFS UIF QPMJDZ XIJDI 1SFTJEFOU #BSBDL 0CBNB TBZT IF XBOUT UP SFQFBM BGUFS DPOTVMUBUJPO XJUI UIF 1FOUBHPO UIF NJMJUBSZ EPFT OPU BTL SFDSVJUT BCPVU UIFJS TFYVBM PSJFOUBUJPO XIJMF TFSWJDF NFNCFST BSF CBOOFE GSPN TBZJOH UIFZ BSF HBZ PS FOHBHJOH JO IPNPTFYVBM BDUJWJUZ

i'PSDJOH QFPQMF UP MJF JU T BCTPMVUFMZ B NPSBMMZ CBOLSVQU JEFB w $IPJ TBJE JO B UFMFQIPOF JOUFSWJFX GSPN IJT IPNF JO 0SBOHF $PVOUZ $BMJGPSOJB 5IF DIBJS PG ,OJHIUT 0VU T CPBSE #FDLZ ,BOJT IBT CJUUFS NFNPSJFT PG CFJOH JOWFTUJHBUFE XIJMF BU 8FTU 1PJOU PO TVTQJDJPO UIBU TIF XBT B MFTCJBO 4IF HSBEVBUFE JO BOE TFSWFE DPOUFOUFEMZ GPS OJOF ZFBST JO UIF 4JHOBM $PSQT CVU TBJE TIF FWFOUVBMMZ HSFX UJSFE PG UIF OFFE UP EFDFJWF i* TUBSUFE UP GFFM JNNBUVSF * XBT UPP HSPXO VQ UP CF MZJOH BCPVU XIFSF * TQFOU UIF XFFLFOE w TIF TBJE ,BOJT OPX MJWFT JO /FX :PSL $JUZ XPSLJOH GPS BO JOTUJUVUF UIBU

DPNCBUT IPNFMFTTOFTT 4IF CFMJFWFT UIF FOE PG iEPO U BTL EPO U UFMMw JT JNNJOFOU BOE IPQFT ,OJHIUT 0VU XJMM CF XFMM QPTJUJPOFE UP TFSWF BGUFS SFQFBM BT B SFTPVSDF PO IPX UIF NJMJUBSZ DBO EFBM XJUI HBZ MFTCJBO JTTVFT i8F SF VOJRVFMZ JO B QPTJUJPO UP CSJEHF UIF LOPXMFEHF HBQ w TIF TBJE i8F SF PQUJNJTUJD UIBU XF MM CF BCMF UP XPSL XJUI UIF BDBEFNZ PODF UIF CBO JT MJGUFE w 'PS OPX ,OJHIUT 0VU IBT OP GPSNBM SFMBUJPOTIJQ XJUI UIF BDBEFNZ PS UIF 8FTU 1PJOU "TTPDJBUJPO PG (SBEVBUFT UIF NBJO BMVNOJ BTTPDJBUJPO 5IF BTTPDJBUJPO T TQPLFTXPNBO ,JN .D%FSNPUU TBZT JU DBOOPU QBSUOFS XJUI BO BMVNOJ HSPVQ BEWPDBUJOH GPS QPMJDZ DIBOHF

.0 . #" 4" ,F O Z B 6 4 /BWZ TOJQFST PQFOFE GJSF BOE LJMMFE UISFF QJSBUFT IPMEJOH BO "NFSJDBO DBQUBJO BU HVOQPJOU EFMJWFSJOH UIF TLJQQFS VOIBSNFE BOE FOEJOH B GJWF EBZ IJHI TFBT IPTUBHF ESBNB PO &BTUFS 4VOEBZ 5IF QJSBUFT XFSF QPJOUJOH ", T BU $BQU 3JDIBSE 1IJMMJQT BOE IF XBT JO iJNNJOFOU EBOHFSw PG CFJOH LJMMFE XIFO UIF DPNNBOEFS PG UIF OFBSCZ 644 #BJOCSJEHF NBEF UIF TQMJU TFDPOE EFDJTJPO UP PSEFS IJT NFO UP TIPPU 7JDF "EN #JMM (PSUOFZ TBJE 1IJMMJQT DSFX XIP TBJE UIFZ IBE FTDBQFE UIF QJSBUFT BGUFS IF PGGFSFE IJNTFMG BT B IPTUBHF FSVQUFE JO DIFFST BCPBSE UIFJS TIJQ EPDLFE JO .PNCBTB ,FOZB 4PNF XBWFE BO "NFSJDBO GMBH BOE GJSFE GMBSFT JO DFMFCSBUJPO " MBXO TJHO JO UIF DBQ UBJO T IPNFUPXO PG 6OEFSIJMM 7U UIBU SFBE i1SBZ GPS $BQUBJO 1IJMMJQT SFMFBTF BOE TBGF SFUVSO IPNF w XBT DIBOHFE UP SFBE i$BQU 1IJMMJQT SFT DVFE BOE TBGF w 5IF 6 4 /BWZ T UI 'MFFU TBJE 1IJMMJQT XBT SFTUJOH DPNGPSU BCMZ BGUFS B NFEJDBM FYBN PO UIF 4BO %JFHP CBTFE 644 #PYFS JO UIF *OEJBO 0DFBO PGG UIF DPBTU PG 4PNBMJB (PSUOFZ TBJE UIF DBQUBJO IBE CFFO iUJFE VQ JOTJEF UIF MJGFCPBUw PWFS NVDI PG UIF PSEFBM i* N KVTU UIF CZMJOF 5IF SFBM IFSPFT BSF UIF /BWZ UIF 4FBMT UIPTF XIP IBWF CSPVHIU NF IPNF w 1IJMMJQT TBJE CZ QIPOF UP .BFSTL -JOF -JNJUFE 1SFTJEFOU BOE $&0 +PIO 3FJOIBSU UIF DPNQBOZ IFBE UPME SFQPSUFST " QIPUP SFMFBTFE CZ UIF /BWZ TIPXFE 1IJMMJQT VOIBSNFE BOE TIBLJOH IBOET XJUI UIF DPNNBOE JOH PGGJDFS PG UIF 644 #BJOCSJEHF 6 4 PGGJDJBMT TBJE B GPVSUI QJSBUF IBE TVSSFOEFSFE BOE XBT JO NJMJ UBSZ DVTUPEZ '#* TQPLFTNBO +PIO .JMMFS TBJE UIBU XPVME DIBOHF BT UIF TJUVBUJPO CFDBNF iNPSF PG B DSJNJOBM JTTVF w 5IF SFTDVF XBT B ESBNBUJD CMPX UP UIF QJSBUFT XIP IBWF QSFZFE PO JOUFSOBUJPOBM TIJQQJOH BOE IPME NPSF UIBO B EP[FO TIJQT XJUI BCPVU TBJMPST GSPN B WBSJFUZ PG OBUJPOT #VU JU BMTP SJTLFE QSPWPLJOH SFUBMJB UPSZ BUUBDLT i5IJT DPVME FTDBMBUF WJPMFODF JO UIJT QBSU PG UIF XPSME OP RVFT UJPO BCPVU JU w TBJE (PSUOFZ UIF DPNNBOEFS PG 6 4 /BWBM 'PSDFT $FOUSBM $PNNBOE +BNBD )BCFC B ZFBS PME TFMG QSPDMBJNFE QJSBUF UPME 5IF "TTPDJBUFE 1SFTT GSPN POF PG 4PNBMJB T QJSBDZ IVCT &ZM UIBU iPVS GSJFOET TIPVME IBWF EPOF NPSF UP LJMM UIF DBQUBJO CFGPSF UIFZ XFSF LJMMFE 5IJT XJMM CF B HPPE MFTTPO GPS VT w i'SPN OPX PO JG XF DBQUVSF GPSFJHO TIJQT BOE UIFJS SFTQFDUJWF DPVOUSJFT USZ UP BUUBDL VT XF XJMM LJMM UIFN UIF IPTUBHFT w IF TBJE 'SBODF BOE *OEJB IBWF CPUI UBLFO EFBEMZ NJMJUBSZ BDUJPO BHBJOTU QJSBUFT JO SFDFOU NPOUIT BOE TFFO OP TJH OJGJDBOU SFUBMJBUJPO IPXFWFS

$ĒĝĚėĠģğĚĒ

5ę Ē Ě ĝ Ē ğ ĕ

7Ēĥ Ě Ĕ Ē ğ

6 ğ Ě ĥ Ė ĕ 4 ĥĒĥ Ė Ĥ

5 3 "$ : " 1 1PMJDF BOE SFTJEFOUT XFSF TIPDLFE XIFO UIF TVTQFDU JO UIF LJMMJOH PG BO ZFBS PME HJSM GPVOE TUVGGFE JOUP B TVJUDBTF UVSOFE PVU UP CF B XPNBO UIF NPUIFS PG UIF TMBJO HJSM T CFTU GSJFOE 5IF NPUJWF JO UIF LJMMJOH IBE OPU CFFO EFUFSNJOFE .FMJTTB )VDLBCZ B 4VOEBZ TDIPPM UFBDIFS BOE HSBOEEBVHIUFS PG B NJOJTUFS XBT PO TVJDJEF XBUDI BU UIF 4BO +PBRVJO $PVOUZ +BJM XIFSF TIF SFNBJOFE JO DVTUPEZ 4VOEBZ XJUIPVU CBJM PO TVTQJDJPO PG LJEOBQQJOH BOE LJMMJOH 4BOESB $BOUV 4BOESB T CPEZ XBT GPVOE JO )VDLBCZ T TVJUDBTF JO BO JSSJHBUJPO QPOE OFBSMZ B XFFL BHP QPMJDF TBJE

#" /( ,0 , "1 1SPUFTUFST BUUBDLFE UIF QSJNF NJOJTUFS T DBS TFJ[FE DPOUSPM PG NBKPS JOUFSTFDUJPOT JO UIF DBQJUBM BOE DPNNBOEFFSFE CVTFT CSJOHJOH OFX DIBPT UP UIF 5IBJ DBQJUBM BT UIF DPVOUSZ T PVTUFE MFBEFS UISFBUFOFE UP SFUVSO GSPN FYJMF UP MFBE B SFWPMVUJPO 5IF HPWFSONFOU EFDMBSFE B TUBUF PG FNFSHFODZ 4VOEBZ CVU XJUIPVU UIF JOUFSWFOUJPO PG TFDVSJUZ GPSDFT JU XBT VODMFBS IPX BOZ CBOT DPVME CF FOGPSDFE *O GSPOU PG UIF DJUZ T CJHHFTU NBMM EFNPOTUSBUPST EBODFE BUPQ UXP BSNPSFE QFSTPOOFM DBSSJFST UIFZ IBE GPSDFE UP B TUPQ XBWJOH GMBHT BOE TIPVUJOH i%FNPDSBDZw 5IF SFE TIJSUFE DSPXE TXBSNFE BSPVOE UIF WFIJDMFT BOE EFNBOEFE UIF LFZT GSPN UIF TPMEJFST JOTJEF

7"5 *$ "/ $ *5 : " 1 1PQF #FOFEJDU 97* TPVHIU UP HJWF B NFTTBHF PG IPQF PO &BTUFS 4VOEBZ UP WJDUJNT PG XBST QPWFSUZ BOE GJOBODJBM UVSNPJM TBZJOH JU XBT VSHFOUMZ OFFEFE UP PWFSDPNF UIF NJTFSJFT UIBU BSF QMBHVJOH "GSJDB UIF .JEEMF &BTU BOE PUIFS QBSUT PG UIF HMPCF #FOFEJDU EFMJWFSFE IJT i6SCJ FU 0SCJw NFTTBHF -BUJO GPS iUP UIF DJUZ BOE UIF XPSMEw BGUFS DFMFCSBUJOH &BTUFS .BTT CFGPSF UIPVTBOET PG QFPQMF XIP QBDLFE 4U 1FUFS T 4RVBSF BOE UIF CPVMFWBSE MFBEJOH VQ UP JU *O IJT TQFFDI #FOFEJDU TBJE IPQF XBT VSHFOUMZ OFFEFE BSPVOE UIF HMPCF EFTQJUF SFBTPOT GPS EFTQBJS

8"4) */( 50 / "1 #P /P KFTU 5IF GJSTU GBNJMZ IBT TFUUMFE PO B GJSTU QFU B NPOUI PME 1PSUVHVFTF XBUFS EPH UIBU UIF 0CBNB HJSMT BSF OBNJOH #P 5IF TFMFDUJPO XBT POF PG UIF 8IJUF )PVTF T NPTU UJHIUMZ LFQU TFDSFUT 1SFTJEFOU #BSBDL 0CBNB T EBVHIUFST ZFBS PME .BMJB BOE ZFBS PME 4BTIB QJDLFE B CMBDL BOE XIJUF QVQ B 8IJUF )PVTF PGGJDJBM TQFBLJOH PO UIF DPOEJUJPO PG BOPOZNJUZ UPME 5IF "TTPDJBUFE 1SFTT 4BUVSEBZ 5IF EPH JT B HJGU GSPN 4FO &EXBSE . ,FOOFEZ % .BTT XIP PXOT TFWFSBM 1PSUVHVFTF XBUFS EPHT IJNTFMG

5PXO SPDLFE CZ BSSFTU PG 4VOEBZ 3JPUJOH FSVQUT JO 5IBJ DBQJUBM 1PQF DBMMT GPS SFDPODJMJBUJPO JO UIF 1PSUVHVFTF XBUFS EPH A#P KPJOT TUBUF PG FNFSHFODZ BOOPVODFE GJSTU GBNJMZ JO 8IJUF )PVTF .JEEMF &BTU EVSJOH &BTUFS TDIPPM UFBDIFS JO LJMMJOH PG HJSM

&#+.; ');26+#0

/FXT

.POEBZ "QSJM

$PNQFUJUJPO TJ[[MFT BU 2VJHMFZ BGUFS UIF PSHBOJ[FST GJOJTI UBMMZJOH UIF TDPSFT TBJE "SJFMMF #BVUJTUB WJDF QSFTJEFOU PG UIF 6""$ 4VNNFS )JMMT #POD[ZL B HSBEV ' MBNFT GMBSFE BT DIFGT UPPL BUF TUVEFOU GSPN .JOOFBQPMJT XBT PWFS 2VJHMFZ )BMM T LJUDIFOT JO B QBSU PG UFBN 'FBSTPNF 'PPEJFT BOE GJFSZ DPNQFUJUJPO GPS UIF UJUMF PG TBJE IFS UFBN HVFTTFE UIF TFDSFU 4*6$ T *SPO $IFG PO 4BUVSEBZ JOHSFEJFOU XIJMF UIFZ QSBDUJDFE NBL 5IF 6OJUFE "TJBO "NFSJDBO JOH UIF EJTIFT B XFFL CFGPSF UIF $PVODJM IFME JUT UI BOOVBM *SPO DPNQFUJUJPO $IFG 4*6$ $PNQFUJUJPO 4BUVSEBZ 5IF 'FBSTPNF 'PPEJFT CBTFE 5FO UFBNT GPVS DIFGT QFS HSPVQ UIFJS EJTIFT PO B CMFOE PG 4PVUI XFSF HJWFO UP HP TIPQ "NFSJDBO GPPET JODMVEJOH B QJOH GPS JOHSFEJFOUT QSJPS UP UIF #SB[JMJBO DPDPOVU UPNBUP CBTFE FWFOU TBJE 7BOOBL $IJO QSFTJEFOU TPVQ BOE B $PMPNCJBO DPSONFBM PG 6""$ QBODBLF TUVGGFE XJUI XIJUF DIFFTF 6""$ QSPWJEFE CBTJD JOHSFEJ 4IF TBJE UIF UFBN IBE B MPU FOUT TVDI BT TBMU TVHBS GMPXFS WFH PG CBDLHSPVOE JO GPSNBM DPPLJOH FUBCMF PJM FHHT BOE HSPVOE QFQQFS BOE JUT QSJPSJUZ XBT UP HFU TQPU PO $IJO TBJE 6""$ IBE SFRVFTUFE GMBWPST BCPVU GSPN 6OEFSHSBEVBUF i*U E CF FBTZ UP BTTVNF UIBU UIF 4UVEFOU (PWFSONFOU CVU SFDFJWFE NBJO EJTI XPVME CF UIF NPTU BCPVU UP DPWFS UIF DPTU PG JNQPSUBOU CVU * UIJOL UIF GPDVT GPPE $VTUPN NBEF BQSPOT XFSF TIPVME SFBMMZ CF PO FBDI EJTI BOE BMTP QSPWJEFE GPS FBDI DIFG NBLJOH TVSF UIF GMBWPST BSF SJHIU 5IF FWFOU CFHBO BU Q N BGUFS OPX *G ZPVS BQQFUJ[FS TVDLT BOE ZPVS FWFOU PSHBOJ[FST VOWFJMFE UIF TFDSFU NBJO EJTI JT BXFTPNF UIBU T HPJOH UP JOHSFEJFOU HJOHFS UISPX UIJOHT PGG w #POD[ZL TBJE &BDI UFBN XBT HJWFO UXP IPVST 4DPSFT GSPN UIF UISFF NBJO KVEH UP QSFQBSF BO BQQFUJ[FS B NBJO FT DPVOUFE GPS QFSDFOU PG FBDI EJTI BOE B EFTTFSU "GUFS BO IPVS UFBN T QPJOUT XIJMF UIF PUIFS UIF BVEJFODF XBT BCMF UP UPVS UIF QFSDFOU DBNF GSPN BO BVEJFODF WPUF LJUDIFOT VOUJM KVEHJOH CFHBO BU 5IFSF XFSF NPSF UIBO QFPQMF Q N 0ODF UIF KVEHJOH XBT PWFS JO B EJWFSTF BVEJFODF UIBU GJMMFE TQFDUBUPST XFSF HJWFO UISFF UJDLFUT 2VJHMFZ "VEJUPSJVN "VEJFODF NFNCFST XFSF BMMPXFE UP i* VOEFSTUBOE UIBU QFPQMF IBWF VTF UIF UJDLFUT UP UBTUF UFTU UISFF PG EJGGFSFOU QMBDFT UIFZ DBO HP BOE * N UIF UFBNT EJTIFT WFSZ HSBUFGVM UIBU UIF DPNNVOJUZ JT i* MJTUFOFE UP BMM UIF PUIFS JOHSF HFUUJOH JOWPMWFE w $IJO TBJE i* N EJFOUT GSPN UIF QSFWJPVT ZFBST BOE FDTUBUJD 5IFSF UVSOFE PVU UP CF XBZ UIFZ IBE NBOHP BOE CFBO TQSPVUT NPSF QFPQMF UIBO * UIPVHIU w CVU HJOHFS JT BO BMM BSPVOE TQJDF #POD[ZL T UFBN XBT UIF UIJSE 5IJT ZFBS JU T OPU KVTU "TJBOT UIBU UFBN UP QSFTFOU JUT EJTIFT BOE CFHBO BSF DPNQFUJOH JU T NVMUJ DVMUVSBM w UIF USFOE PG QBTTJOH PVU GPPE UP $IJO TBJE BVEJFODF NFNCFST 5IF XJOOFS PG UIF DPNQFUJUJPO i&WFSZCPEZ MPPLFE QSFUUZ IVO XJMM CF BOOPVODFE CZ 8FEOFTEBZ HSZ BOE XF IBE FYUSBT TP XF GJHVSFE

JOETFZ 4NJUI %"*-: &(:15*"/ -(4.*5)!4*6 &%6

#3"/%0/ $)"11-& ] % "*-: & (:15*"/ .BSDVT ,JOH SJHIU B GSFTINBO TUVEZJOH KPVSOBMJTN BOE +PFM 3BNUBIBM B TFOJPS TUVEZJOH GPSFTUSZ LFFQ XBUDI PWFS B QPU PG DVSSZ EVSJOH UIF DPNQFUJUJPO 5IFJS UFBN NBEF GPVS FOUSÏFT DFOUFSFE BSPVOE DIJDLFO CVU UIFZ XFSF BMTP GPSDFE UP VTF UIF TFDSFU JOHSFEJFOU HJOHFS XF E KVTU HJWF UIFN BXBZ JG UIFZ XFSF XJMMJOH UP IBWF TPNF PGG UIF KVEHFT QMBUF w #POD[ZL TBJE +BJNF $POMFZ )PMU B $BSFFS 4FSWJDFT TQFDJBMJTU PO DBNQVT XBT B QBSU PG UIF .NN (PPE UFBN XIJDI CBTFE JUT SFDJQFT PO .FYJDBO EJTIFT *ODPSQPSBUJOH HJOHFS JOUP JUT PSJHJOBM SFDJQFT XBT UIF CJHHFTU PCTUBDMF )PMU TBJE i8F XFSF HPJOH UP EP B LJOE PG DJMBOUSP DIJDLFO QBTUB UIJOH XJUI B .FYJDBO UIFNF BOE UIBU TXJUDIFE

PWFS UP IPOFZ HJOHFS DIJDLFO XJUI SJDF 8F XFSF HPJOH UP EP B TBMTB CVU XF DIBOHFE XIBU XF XFSF HPJOH QVU JO JU w )PMU TBJE )PMU TBJE PUIFS JTTVFT IFS HSPVQ SBO JOUP XFSF TQBDJOH OFFEJOH NVM UJQMF DPPLJOH EJTIFT BOE GJOEJOH TQBDF JO UIF PWFO #POD[ZL TBJE UIF POMZ ESBXCBDL XBT XBJUJOH GPS UIF KVEHJOH i8F XFSF B MJUUMF EJTBQQPJOUFE UIBU XF IBE UP XBJU BSPVOE TP MPOH CFDBVTF UIJOHT XFSF DPME CZ UIF UJNF UIF

KVEHFT HPU UP USZ UIFN 5IFZ XPVME IBWF CFFO CFUUFS JG UIFZ XFSF IPU BOE SJHIU PGG UIF HSJMM w TBJE #POD[ZL 7JFO $BP B HSBEVBUF TUVEFOU GSPN 7JFUOBN BOE XJOOFS PG UIF 7JFUOBNFTF UIFNFE DPNQFUJUJPO MBTU ZFBS XBT POF PG UIF UISFF KVEHFT UIJT ZFBS i4PNF UFBNT NBEF UIJOHT PVU PG TJNQMF JOHSFEJFOUT UIBU * VTF FWFSZ EBZ UP DPPL BOE UIFZ DBNF VQ XJUI TPNFUIJOH OFX UIBU * OFWFS FWFS USJFE CFGPSF w $BP TBJE

7Ġ Ě Ĕ Ė Ĥ

&#+.; ');26+#0 '&+614+#. $1#4&

%" * -: & ( : 1 5 * " /

#24+.

#NNKUQP 2GVV[ ' &+614 +0 % *+'( .CPG %JTKUVKCPUGP 2 *161 ' &+614

,GHH 'PIGNJCTFV / #0#)+0) ' &+614

$TKCP (GNFV % #/275 ' &+614

,COKG &TGPFGN & '5+)0 % *+'(

$TCPF[ 1ZHQTF % +6; ' &+614

.WKU /GFKPC 5 21465 ' &+614

5CTCJ .QJOCP 8 1+%'5 ' &+614 .WMG /E%QTOKEM 5GCP /E)CJCP 2 7.5' ' &+614 0 '95411/ 4 '24'5'06#6+8'

&%*503*"- $"3500/

3716' 1( 6*' &#;

²+H [QW UGG C RGTUQP OCMKPI C VGTTKDNG OKUVCMG [QW ECPµV CNYC[U LWOR KP CPF UCXG VJGO ³ +BNFT , #PSCFMZ B DJSDVJU DPVSU KVEHF JO 7FSNJMJPO $PVOUZ *MM PO BO JODSFBTF JO UIF OVNCFS PG QFPQMF DIPPTJOH UP SFQSFTFOU UIFNTFMWFT JO DPVSU CFDBVTF PG GJOBODJBM EJGGJDVMUZ

"CPVU 6T

6JG &#+.; ');26+#0 KU RWDNKUJGF D[ VJG UVWFGPVU QH 5QWVJGTP +NNKPQKU 7PKXGTUKV[ CV %CTDQPFCNG YKVJ HCNN CPF URTKPI EKTEWNCVKQPU QH (TGG EQRKGU CTG FKUVTKDWVGF QP ECORWU CPF KP VJG %CTDQPFCNG /WTRJ[UDQTQ CPF %CTVGTXKNNG EQOOWPKVKGU

& E J U P S J B M 1P M J D Z

1WT 9QTF KU VJG EQPUGPUWU QH VJG &#+.; ');26+#0 'FKVQTKCN $QCTF QP NQECN PCVKQPCN CPF INQDCN KUUWGU CHHGEVKPI VJG 5QWVJGTP +NNKPQKU 7PKXGTUKV[ EQOOWPKV[ 8KGYRQKPVU GZRTGUUGF KP EQNWOPU CPF NGVVGTU VQ VJG GFKVQT FQ PQV PGEGUUCTKN[ TG¿ GEV UIPTF PG UIF %ĒĚĝĪ &ĘĪġĥĚĒğ

/PUJDF

6JG &#+.; ');26+#0 KU C ²FGUKIPCVGF RWDNKE HQTWO ³ 5VWFGPV GFKVQTU JCXG CWVJQTKV[ VQ OCMG CNN EQPVGPV FGEKUKQPU YKVJQWV EGPUQTUJKR QT CFXCPEG CRRTQXCN 9G TGUGTXG VJG TKIJV VQ PQV RWDNKUJ CP[ NGVVGT QT IWGUV EQNWOP

4VCNJTTJPOT

.GVVGTU CPF IWGUV EQNWOPU OWUV DG UWDOKVVGF YKVJ CWVJQTµU EQPVCEV KPHQTOCVKQP RTGHGTCDN[ XKC G OCKN 2JQPG PWODGTU CTG TGSWKTGF VQ XGTKH[ CWVJQTUJKR DWV YKNN PQV DG RWDNKUJGF .GVVGTU CTG NKOKVGF VQ YQTFU CPF EQNWOPU VQ YQTFU 5VWFGPVU OWUV KPENWFG [GCT CPF OCLQT (CEWNV[ OWUV KPENWFG TCPM CPF FGRCTVOGPV 0QP CECFGOKE UVCHH OWUV KPENWFG RQUKVKQP CPF FGRCTVOGPV 1VJGTU KPENWFG JQOGVQYP 5WDOKUUKQPU UJQWNF DG UGPV VQ XQKEGU"UKWFG EQO

1VCMJTIJOH *OGP

6JG &#+.; ');26+#0 KU RWDNKUJGF D[ VJG UVWFGPVU QH 5QWVJGTP +NNKPQKU 7PKXGTUKV[ 1H¾ EGU CTG KP VJG %QOOWPKECVKQPU $WKNFKPI 4QQO CV 5QWVJGTP +NNKPQKU 7PKXGTUKV[ CV %CTDQPFCNG %CTDQPFCNG +. $KNN (TGKXQIGN ¾ UECN QH¾ EGT

$PQZSJHIU *OGP

&#+.; ');26+#0 #NN TKIJVU TGUGTXGF #NN EQPVGPV KU RTQRGTV[ QH VJG &#+.; ');26+#0 CPF OC[ PQV DG TGRTQFWEGF QT VTCPUOKVVGF YKVJQWV EQPUGPV 6JG &#+.; ');26+#0 KU C OGODGT QH VJG +NNKPQKU %QNNGIG 2TGUU #UUQEKCVKQP #UUQEKCVGF %QNNGIKCVG 2TGUU CPF %QNNGIG /GFKC #FXKUGTU +PE

'&"3 "/% -0"5)*/( */ $"3#0/%"-&

5)&*3 803%

5IF XJEF XPSME PG TQPSUT

%BSL EBZT GPS UIF NJMJUBSZ JOEVTUSJBM DPNQMFY

HVJTI IFSTFMG GSPN VT 5IVNCT 6Q UP BVUIPSJUJFT GPS DIBSHJOH UIF ESVOL ESJWFS XIP LJMMFE "/%: '365) ZFBS PME -" "OHFM QJUDIFS /JDL "EFOIBSU BOE IJT UXP GSJFOET XJUI BGSVUI!TJV FEV UISFF DPVOUT PG NVSEFS 1PMJDF TBJE UIF ESJWFS IBE B CMPPE BMDPIPM MFWFM OFBSMZ UISFF UJNFT UIF MFHBM MJNJU 5IVNCT 6Q UP UIF QMBOT UP SFCVJME XIFO IF CMFX UISPVHI B SFE MJHIU )BOHBS PO UIF 4USJQ "T SFQPSUFE CZ VMUJNBUFMZ TUSJLJOH UIF WFIJDMF JO UIF 4PVUIFSO *MMJOPJTBO 5IVSTEBZ DJUZ XIJDI "EFOIBSU XBT B QBTTFOHFS PGGJDJBMT DPOGJSNFE UIBU QMBOT BSF JO UIF /JDL XBT UIF UPQ QSPTQFDU JO UIF XPSLT UP SFCVJME UIF FTUBCMJTINFOU BGUFS "OHFMT PSHBOJ[BUJPO BOE IBE KVTU JUT SPPG DPMMBQTFE EVSJOH B 'FCSVBSZ QJUDIFE UIF CFTU HBNF PG IJT CSJFG TOPXTUPSN 5IF SFCVJMU )BOHFS XJMM DBSFFS UIF OJHIU IF XBT LJMMFE CF SPVHIMZ TRVBSF GFFU BOE XJMM "OHFMT NBOBHFS .JLF 4DJPTDJB JODPSQPSBUF UIF PME CFFS HBSEFO UIF POMZ TVNNFE VQ UIF TJUVBUJPO GJUUJOHMZ XIFO TBMWBHFBCMF QBSU PG UIF PME CVJMEJOH IF TBJE i6OGPSUVOBUFMZ JU IBQQFOT FWFSZ 5IF OFX TUSVDUVSF XJMM CF TJH EBZ JO PVS XPSME BOE JU IBQQFOFE UP OJGJDBOUMZ TUSPOHFS BOE VQ UP DPEF UPVDI VT UIJT XFFL JO B USBHJD XBZ w UIBO UIF PME POF TP VOMFTT B $BUFHPSZ 5IVNCT %PXO UP UIF HVZ TFFLJOH IVSSJDBOF TVEEFOMZ EFWFMPQT PWFS GSPN UIF $IJDBHP 8IJUF 4PY $BNQVT -BLF UIF OFX SPPG TIPVME BGUFS IF TVGGFSFE B TFWFSF CBDL JOKVSZ IPME VQ KVTU GJOF 8PSL TIPVME CFHJO GSPN GBOT TUSVHHMJOH UP DMBJN B GSFF 5 TPPO PO UIF EFNPMJUJPO PG XIBU T MFGU TIJSU MBVODIFE GSPN B DBOOPO JOUP UIF PG UIF TUSVDUVSF BOE UIF XPSL TIPVME TUBOET %BWJE #BCVTJBL PG )BNNPOE CF EPOF JO UJNF GPS )BOHBS UP CF *OE DMBJNT TIPPUJOH 5 TIJSUT JOUP UIF PQFO CZ UIF FOE PG UIF TVNNFS TUBOET BU B CBMMHBNF JT BO iBCOPSNBMMZ 5IVNCT %PXO UP UIF BOOVBM EBOHFSPVT BDUJWJUZ w BOE UIBU IF JT FOUJ GBNJMZ GFVE CFUXFFO MJUUMF TJTUFS 4*6 UMFE UP GPS IJT NJTGPSUVOF &EXBSETWJMMF BOE JUT CJH CSPUIFS * N OPU TVSF * N CVZJOH IJT BSHV 4*6$ "O &EXBSETWJMMF DPNNJUUFF NFOU BOE * IPQF B KVEHF EPFTO U FJUIFS GPSNFE MBTU ZFBS JTTVFE B SFQPSU MBTU (JWFBXBZT BOE QSPNPUJPOT MJLF UIBU XFFL PO XIBU PQJOJPOT BSF PO DBNQVT NBLF UIF FWFOU NPSF FYDJUJOH BOE PG &EXBSETWJMMF QPUFOUJBMMZ TFQBSBUJOH TFSWF BT B XBZ UP LFFQ GBOT FOUFSUBJOFE JO CFUXFFO JOOJOHT PS IBMWFT * LOPX GSPN UIF 4*6 GBNJMZ 0QJOJPOT JO &EXBSETWJMMF TFFN 4BMVLJ GBOT UIBU XPVME QVNNFM FBDI SBUIFS NJYFE 5IFSF JT B TNBMM GBDUJPO PUIFS GPS B 5 TIJSU MBVODIFE GSPN UIBU XBOUT UP TFDFEF GSPN UIF 6OJPO UIF %BXH[PPLB PS B )VOBO #BMM B IVHF HSPVQ UIBU IPOFTUMZ EPFTO U MBVODIFE GSPN UIF CMPOEF DIFFSMFBEFS DBSF BOE UIFO BOPUIFS TNBMM GBDUJPO XJUI UIF DBOPO BSN 5IF TBE QBSU JT UIBU XBOUT UP CPUI TJEFT UP HSPX BOE UIFZ EP TP BU UIFJS PXO SJTL DPOUJOVF UP XPSL UPHFUIFS 1FSIBQT .S #BCVTJBL T FYQFSJFODFT * N TVSF UIF TBNF PQJOJPOT BOE GBD GSPN UIF CBMMQBSL UIBU EBZ TIPVME TFSWF UJPOT FYJTU JO $BSCPOEBMF XJUI UIF WBTU BT B MFTTPO UP BMM GVUVSF BUUFOEFFT OPU NBKPSJUZ PG QFPQMF OPU DBSJOH BCPVU UIF POMZ BSF ZPV BU SJTL GSPN GPVM CBMMT PS CSP JTTVF XIBUTPFWFS * UIJOL UIF DPNNPO LFO CBUT CVU GSPN 5 TIJSUT GJSFE PVU PG B 4BMVLJ IBT NPSF PG B QSPCMFN XJUI UIF DBOOPO BT XFMM $ JO 4*6$ BT JU T UIFJS GFFMJOH XF BSF 'SVUI JT B HSBEVBUF TUVEFOU JO 4PVUIFSO *MMJOPJT 6OJWFSTJUZ BOE UIBU DVSSJDVMVN BOE JOTUSVDUJPO MJUUMF TJTUFS TIPVME CF GPSDFE UP EJTUJO

(VFTU &EJUPSJBM .$$-"5$): 53*#6/&

*O IJT GBSFXFMM BEESFTT BT QSFTJ EFOU %XJHIU &JTFOIPXFS XIP LOFX B UIJOH PS UXP BCPVU XBS DPJOFE UIF QISBTF iNJMJUBSZ JOEVTUSJBM DPNQMFYw UP EFTDSJCF UIF iDPOKVODUJPO PG BO JNNFOTF NJMJUBSZ FTUBCMJTINFOU BOE B MBSHF BSNT JOEVTUSZ OFX JO UIF "NFSJDBO FYQFSJFODF w "T &JTFOIPXFS UIF QSJEF PG "CJMFOF ,BO XBSOFE i5IF UPUBM JOGMVFODF FDPOPNJD QPMJUJDBM FWFO TQJSJUVBM JT GFMU JO FWFSZ DJUZ FWFSZ TUBUFIPVTF FWFSZ PGGJDF PG UIF GFEFSBM HPWFSONFOU 0VS UPJM SFTPVSDFT BOE MJWFMJIPPE BSF BMM JOWPMWFE TP JT UIF WFSZ TUSVDUVSF PG PVS TPDJFUZ w 5IJT XFFL BOPUIFS ,BOTBT 3FQVCMJDBO %FGFOTF 4FDSFUBSZ 3PCFSU . (BUFT UPPL EFBE BJN BU *LF T OFNFTJT CZ QSPQPTJOH UP TIJGU 1FOUBHPO TQFOEJOH QSJPSJUJFT BXBZ GSPN CJH UJDLFU XFBQPOT TZTUFNT )F BOE 1SFTJEFOU 0CBNB XBOU UP TQFOE GBS MFTT PO TUSBUFHJD XFBQPOT BOE NPSF PO NJMJUBSZ NBOQPXFS BOE UBDUJDBM XFBQPOT VTFE JO DPVOUFS JOTVSHFODZ XBSGBSF 0WFSBMM NJMJUBSZ TQFOEJOH CJMMJPO OFYU ZFBS JODMVEJOH UIF DPTU PG UIF XBST JO "GHIBOJTUBO BOE *SBR XPVME JODSFBTF CZ QFSDFOU CVU QSJPSJUJFT XPVME DIBOHF 5IJT SFWP MVUJPO IBT CFFO UBMLFE BCPVU GPS B MPOH UJNF CVU UIF NJMJUBSZ JOEVTUSJBM DPNQMFY BOE JUT BMMJFT JO $POHSFTT IBWF BMXBZT CFBUFO JU CBDL 5P CF TVSF UIFZ NBZ CFBU JU CBDL UIJT UJNF CVU PEET BSF (BUFT BOE 0CBNB XJMM HFU NPTU PG XIBU UIFZ BTLFE GPS 8JUI UIF GFEFSBM CVEHFU BMSFBEZ JO SFDPSE EFGJDJU UIFSF T OP XBZ UP QBZ GPS FYPUJD XFBQPOT BOE JODSFBTFE NBOQPXFS BOE SFBEJOFTT UPP (BUFT BOE 0CBNB BSF SJHIU JO UIFJS QSJPSJUJFT

5IJT JT B TJHOBM NPNFOU JO UIF MPOH CBUUMF UP GJY NJMJUBSZ QSPDVSFNFOU QPMJDJFT 1FOUBHPO XFBQPOT TZTUFNT BSF DPMMFDUJWFMZ OFBSMZ CJMMJPO PWFS CVEHFU "DDPVOUBCJMJUZ JT OFHMJ HJCMF 5IF TZTUFN SFRVJSFT TPVOE NJMJ UBSZ BOE CVEHFUBSZ BTTFTTNFOUT BOE DPOUJOVBM PWFSTJHIU 8IBU (BUFT EJE UIJT XFFL BU MPOH MBTU JT B NPWF JO UIF SJHIU EJSFDUJPO 5IF NPTU IJHI QSPGJMF UBSHFU PO (BUFT IJU MJTU JT UIF "JS 'PSDF T ' 3BQUPS B GJHIUFS QMBOF TP BEWBODFE UIBU OP PUIFS QMBOF JO UIF XPSME JT MJLFMZ UP UPVDI JU GPS BU MFBTU ZFBST 5IF "JS 'PSDF XBOUT PG UIFN CVU (BUFT XBOUT UP FOE QSPEVDUJPO BU 3FBTPO 5IFZ DPTU NJM MJPO FBDI NJMMJPO FBDI XIFO EFWFMPQNFOU DPTUT BSF SPMMFE JO -PDLIFFE .BSUJO JT UIF QSJNF DPOUSBDUPS GPS UIF ' #PFJOH T 4U -PVJT CBTFE EFGFOTF VOJU JT B NBKPS TVCDPOUSBDUPS UIPVHI GFX KPCT IFSF XPVME CF BGGFDUFE #PFJOH BMTP XPVME CF B MPTFS JO (BUFT EFDJ TJPO UP XIBDL CJMMJPO GSPN UIF "SNZ T 'VUVSF $PNCBU 4ZTUFN DPO USBDU GPS BO FJHIU TPMEJFS IJHI UFDI GJHIUJOH WFIJDMF #PFJOH 4U -PVJT XJMM DPOUJOVF UP CVJME NPSF ' " 4VQFS )PSOFUT GPS UIF /BWZ 5IF NJMJUBSZ JOEVTUSJBM DPNQMFY XJMM GJHIU UIFTF BOE PUIFS DVUT XJUI FWFSZ XFBQPO JO JUT BSTFOBM o MPCCZ JOH DBNQBJHOT BE DBNQBJHOT BOE QPMJUJDBM DPOUSJCVUJPOT 5PP NVDI JT BU TUBLF UP GBMM GPS GBDJMF BSHVNFOUT 8IBU &JTFOIPXFS TBJE JO TUJMM JT USVF UPEBZ i0OMZ BO BMFSU BOE LOPXMFEHFBCMF DJUJ[FOSZ DBO DPN QFM UIF QSPQFS NFTIJOH PG UIF IVHF JOEVTUSJBM BOE NJMJUBSZ NBDIJOFSZ PG EFGFOTF XJUI PVS QFBDFGVM NFUIPET BOE HPBMT TP UIBU TFDVSJUZ BOE MJCFSUZ NBZ QSPTQFS UPHFUIFS w 5IJT FEJUPSJBM BQQFBSFE JO UIF 4U -PVJT 1PTU %JTQBUDI 5IVSTEBZ

&#+.; ');26+#0

1VMTF

A%SFBNT BSF 'PSFWFS TIBSFT BEWFOUVSFT JO TPVUIFSO *MMJOPJT )JTUPSZ GJDUJPO DPNCJOF JO BMVNOVT GJSTU OPWFM (FOOB 0SE

%"*-: &(:15*"/ (03%!4*6 &%6

8 JMMJBN )BZFT HSFX VQ JO TNBMM UPXO *MMJOPJT BOE XPSLFE IJT XBZ UP )PVTUPO XIFSF IF XPSLFE JO QBSUOFSTIJQ XJUI /"4" UP IFMQ QVU B NBO PO UIF 8JMMJBN )BZFT NPPO )JT MPWF GPS TNBMM UPXOT OFWFS MFGU IJN UIPVHI BT FWJEFODFE JO IJT OFX OPWFM JO XIJDI IF SFWJTJUT UIF UPXO XIFSF IF HSFX VQ )BZFT PG 'SJFOETXPPE 5FYBT JT SFUVSOJOH UP $BSCPOEBMF PO .BZ GPS B CPPL TJHOJOH BU #BSOFT BOE /PCMF )JT OPWFM i%SFBNT BSF 'PSFWFS w JT B IJTUPSJDBM GJDUJPO TFU JO IJT IPNFUPXO PG 4IBXOFFUPXO BCPVU NJMFT FBTU PG $BSCPOEBMF )F TBJE UIF CPPL JT TFU JO UIF ZFBS IF HSBEVBUFE GSPN IJHI TDIPPM BOE DFOUFST BSPVOE B IJHI TDIPPM TFOJPS XIP JT VOSBWFMJOH B NZTUFSZ BCPVU B NBOTJPO BU UIF FEHF PG UPXO *U JT UIF GJSTU OPWFM GPS )BZFT XIP HSBEVBUFE GSPN 4*6$ XJUI B EPVCMF NBKPS JO QIZTJDT BOE NBUI FNBUJDT "GUFS HFUUJOH IJT NBT UFST JO QIZTJDT BU /PSUIXFTUFSO 6OJWFSTJUZ JO $IJDBHP IF TBJE IF XBT BTTJHOFE UP XPSL XJUI /"4" PO EJTDPWFSJOH B XBZ UP QFSGPSN B SFOEF[WPVT JO TQBDF 8IFO )BZFT BUUFOEFE 4*6$ IF TBJE IF MJWFE JO UIF DPSOFS SPPN PO UIF UIJSE GMPPS PG "OUIPOZ )BMM BOE SFNFNCFST HPJOH UP B HBUIFS JOH JO %FMZUF .PSSJT CBDLZBSE )F TBJE .PSSJT UIFO QSFTJEFOU PG 4*6 JOWJUFE UIF FOUJSF GSFTINBO DMBTT UP IJT IPNF GPS XBUFSNFMPO BOE B DIBODF UP NFFU POF BOPUIFS .PSSJT TIPPL IBOET XJUI FWFSZPOF QSFTFOU B HSPVQ UIBU OVNCFSFE

BSPVOE TUVEFOUT )BZFT TBJE i5IFSF XBT B MPU PG XBUFSNFMPO BOE B MPU PG IBOETIBLJOH w IF TBJE 5IF DMPTFOFTT BOE GBNJMJBSJUZ PG QSFWJPVT EFDBEFT JT TIPXO JO IJT CPPL BT UIJOHT BSF NVDI NPSF QFS TPOBM JO TNBMM UPXOT IF TBJE )BZFT TBJE UIF OPWFM DPVME CF EJGGJDVMU UP XSJUF JG IF XBT OPU JO UIF DPSSFDU GSBNF PG NJOE BOE UIBU JU SFRVJSFE B EJGGFSFOU LJOE PG UIJOLJOH GSPN XIBU XBT SFRVJSFE BU /"4" i*O UIF TQBDF QSPHSBN ZPV UFOE UP CF WFSZ SBUJPOBM BOE WFSZ MPHJDBM w IF TBJE i5IF OPWFM JTO U BCPVU UIBU *U T BCPVU FNPUJPO w )BZFT TBJE JU UPPL IJN B ZFBS BOE B IBMG UP XSJUF i%SFBNT BSF 'PSFWFS w BOE IF XBT JOTQJSFE UP XSJUF JU CFDBVTF PG IJT PXO FYQFSJ FODF HSPXJOH VQ JO 4IBXOFFUPXO 5IF UPXO JT UIF PMEFTU UPXO JO UIF TUBUF BOE IF TBJE IF IBT BMXBZT CFFO GBTDJOBUFE XJUI JUT SJDI IJTUPSZ 0OF PG IJT NFNPSJFT PG UIF UPXO JT UIF GFBS UIF UPXO IBE FWFSZ XJOUFS UIBU UIF MFWFF XPVME CSFBL BOE UIF OFBSCZ 0IJP 3JWFS XPVME GMPPE )BZFT TBJE NBOZ FWFOUT PG IJT CPZIPPE BQQFBS JO UIF OPWFM i* KVTU XBOUFE UP TIBSF UIF FYQFSJ FODF PG CFJOH SBJTFE UIFSF BOE TPNF PG UIF BEWFOUVSFT * IBE w IF TBJE )BZFT TBJE i%SFBNT BSF 'PSFWFSw XBT TFMFDUFE CZ .PSSJT -JCSBSZ GPS JUT TQFDJBM DPMMFDUJPO XIJDI JODMVEFT TPNF CPPLT XSJUUFO CZ BMVNOJ CVU TQFDJBMJ[FT JO XPSLT XSJUUFO CZ GBD VMUZ PG 4*6$ i4PVUIFSO *MMJOPJT IJTUPSZ JT BO BSFB XF SF USZJOH UP TUSFOHUIFO SJHIU OPX w TBJE -FBI #SPBEEVT B VOJWFSTJUZ BSDIJWJTU )BZFT XJMM CF TJHOJOH DPQJFT PG IJT CPPL GSPN UP Q N PO .BZ BU #BSOFT BOE /PCMF CPPLTUPSF $JOEZ .BSLT BTTJTUBOU NBO BHFS BU #BSOFT BOE /PCMF TBJE $BSCPOEBMF IBT NBOZ MPDBM BVUIPST BOE UIF CPPLTUPSF FOKPZT CPPLJOH UIFN GPS TJHOJOHT 4IF TBJE DVT UPNFST UBLF QBSUJDVMBS JOUFSFTU JG B CPPL JT BCPVU MPDBM IJTUPSZ i1FPQMF EPO U SFBMJ[F IPX NBOZ MPDBM BVUIPST XF IBWF w TIF TBJE

1 6 - 4 & i)BOOBI .POUBOB 5IF .PWJFw JT /P BU UIF CPY PGGJDF UIJT XFFLFOE SBLJOH JO NJMMJPO %JE ZPV TFF .JMFZ T MBUFTU

$ISJT .D(SFHPS

* UIPVHIU * E KVTU MFU NZ XJGF TFF JU GPS NF 4IF DBO GJMM NF JO PO UIF KVJDZ QMPU EFUBJMT

8FT -BXTPO

* EJE OPU TFF UIF NPWJF CFDBVTF * IBWF CFFO B ZFBS PME HJSM BOE EP OPU OFFE UP SFWJTJU UIPTF UJNFT

-VLF .D$PSNJDL

* IBWFO U CFFO BCMF UP GSFF VQ UIF UJNF JO NZ TDIFEVMF 5IF POMZ XBZ * MM CF TFFJOH .JTT $ZSVT OFXFTU JT JG GBUIFS #JMMZ 3BZ T TPVM QBUDI IBT JUT PXO QMPU MJOF 5IBU UIJOH JT TFSJPVT

.POEBZ "QSJM

&#+.; ');26+#0

/FXT

&7"/ %"7*4 ] % "*-: & (:15*"/ 4BMVLJ TFDPOE CBTFNBO 4DPUU &MNFOEPSG ZFMMT BDSPTT UIF SPPN EVSJOH UIF CBTCBMM UFBN T BOOVBM GJTI GSZ 'SJEBZ BU UIF $BSCPOEBMF $JWJD $FOUFS 'PS UIF QVCMJD XBT XFMDPNF UP BMM ZPV DBO FBU DBUGJTI BOE PQFO CJEEJOH PO WBSJPVT TQPSU NFNPSBCJMJB

&#+.; ');26+#0

4QPSUT

80.&/ 4 (0-'

4BMVLJT TUSVHHMF JO MBTU UPVSOBNFOU CFGPSF DPOGFSFODF DIBNQJPOTIJQT 'JOJTI UI JO UFBN GJFME

PVU UIF 4BMVLJT UPQ GJWF i/PCPEZ SFBMMZ QMBZFE MJHIUT PVU 8F SF KVTU HPJOH UP USZ BOE VTF 3ZBO 7PZMFT UIJT BT B CVJMEJOH QPJOU TP UIBU XF %"*-: &(:15*"/ DBO CF QSFQBSFE GPS DPOGFSFODF w 370:-&4!4*6 &%6 -BFHFMFS TBJE i)PQFGVMMZ UIF OFYU GFX EBZT XF DBO XPSL PO PVS TIPSU 8 JUI UIF .JTTPVSJ 7BMMFZ HBNF BOE CVJME TPNF DPOGJEFODF $POGFSFODF DIBNQJPOTIJQT UFFJOH IFBEJOH JOUP DPOGFSFODF w PGG 'SJEBZ UIF 4BMVLJ XPNFO T HPMG 5IF 4BMVLJT TUSVHHMFT TUBSUFE UFBN XBT IPQJOH UP CVJME TPNF FBSMZ BT UIF UFBN TUVNCMFE JOUP NPNFOUVN /PX JU XJMM IBWF GPVS B UI QMBDF GJOJTI BGUFS UIF GJSTU EBZT UP GJOE TPNF SPVOE 4BUVSEBZ CVU UIFZ SFCPVOEFE 4*6 TUSVHHMFE JO JUT MBTU UFTU JO UIF TFDPOE SPVOE 4BUVSEBZ CFGPSF DPOGFSFODF DIBNQJPOTIJQT NPWJOH VQ UP UI 5IF 4BMVLJT GJOJTIJOH UI PO 4VOEBZ BU UIF XFSF VOBCMF UP JNQSPWF GSPN UIBU UFBN &BTUFSO ,FOUVDLZ 6OJWFSTJUZ QPTJUJPO 4QSJOH *OWJUBUJPOBM JO 3JDINPOE 5PVHI XFBUIFS DPOEJUJPOT ,Z 5IF 4BMVLJT TIPU B IPMF QSFWFOUFE UIF 4BMVLJT GSPN UIJSUFFO TIPUT PGG QSFQBSJOH UIF UI QMBDF &BTUFSO XBZ UIFZ XBOUFE ,FOUVDLZ #FDBVTF PG TUPSNZ )FBE DPBDI PO F IBEO U QMBZFE DPOEJUJPOT %JBOF %BVHIFSUZ 'SJEBZ UIF UFBN UIF DPVSTF TBJE UIF UFBN XBT OPU BCMF UP JT PCWJPVTMZ HFU JO BOZ QSBDUJDF CFGPSF BOE XJUI UIF SPVOET CFGPSF EJTBQQPJOUFE CVU UIFSF XFSF TPNF XJOET BOE DPOEJUJPO UIF UPVSOBNFOU QPTJUJWFT UP CVJME %BVHIFSUZ TBJE UIF JU IVSU VT B CJU :PV UFBN PO OFWFS TBX UIF i&WFSZCPEZ IBE IBWF UP LOPX IPX UP DPVSTF VOUJM JU XBT BU MFBTU IBE POF PGG 4BUVSEBZ QMBZ UIF DPVSTF BOE UFFJOH HPPE SPVOE 5IF NPSOJOH HPBM JT UP CF QFBLJOH i 8F IBEO U XIFSF UP QMBDF UIF BU DPOGFSFODF OFYU QMBZFE UIF DPVSTF TIPU XFFL w %BVHIFSUZ CFGPSF BOE XJUI Â&#x2030; #SBJEZ )PPE TBJE i5IJT DPVSTF UIF XJOET BOE TFOJPS HPMGFS SFBMMZ SFNJOEFE NF DPOEJUJPO JU IVSU VT PG UIF DPVSTF XF MM B CJU w )PPE TBJE CF QMBZJOH JO *PXB w i:PV IBWF UP LOPX IPX UP QMBZ 5IF UI QMBDF GJOJTI DPNFT POF UIF DPVSTF BOE XIFSF UP QMBDF UIF XFFL BGUFS UIF UFBN T GPVSUI QMBDF TIPU w GJOJTI BU UIF 4BMVLJ *OWJUBUJPOBM 5PMFEP XPO UIF &,6 4QSJOH 5IF GPVSUI QMBDF GJOJTI XBT UIFJS *OWJUBUJPOBM XJUI B IPMF GJSTU UPQ GJWF GJOJTI JO UIF TQSJOH $FOUSBM "SLBOTBT &BTUFSO 4FOJPS #SBJEZ )PPE MFE 4*6 BGUFS .JDIJHBO 6OJWFSTJUZ PG TIPPUJOH B IPMF 3FJHOJOH 3JDINPOE BOE .VSSBZ 4UBUF .7$ (PMGFS PG UIF 8FFL TFOJPS SPVOEFE PVU UIF UPQ GJWF ,BUF -BFHFMFS GJOJTIFE TFDPOE GPS 5IF 4BMVLJT XJMM OPU IBWF MPOH UIF 4BMVLJT XJUI B IPMF TDPSF UP EXFMM PO UIFJS QFSGPSNBODF 5IFZ PG 4PQIPNPSF "MFY "OEFSTPO XJMM MFBWF 5IVSTEBZ UP DPNQFUF GSFTINFO "MJTIB .BUUIFXT JO UIF .7$ $IBNQJPOTIJQ JO BOE .FH (JMMFZ SPVOEFE 1BOPSB *PXB TUBSUJOH 'SJEBZ

Â¶Â¶8

.BTUFST EFMJWFST NBHJDBM TIPX BU 0BLNPOU UXP ZFBST BHP GJOBMMZ FBSOFE B HSFFO KBDLFU GPS "SHFOUJOB *U XBT ZFBST BHP XIFO 3PCFSUP "6 ( 6 4 5" (B Â&#x2030; 5IF EF 7JDFO[P NBEF POF PG HPMG T NPTU .BTUFST EFMJWFSFE UIF TIPX FWFSZPOF GBNPVT HBGGFT TJHOJOH GPS UIF XSPOH XBOUFE BOE B DIBNQJPO OP POF TDPSF UIBU EFOJFE IJN B TQPU JO B FYQFDUFE .BTUFST QMBZPGG %F 7JDFO[P HBWF IJN B QJDUVSF "OHFM $BCSFSB CFDBNF UIF GJSTU "SHFOUJOF UP XJO UIF HSFFO KBDLFU PG B HSFFO KBDLFU UXP ZFBST BHP BU "VHVTUB /BUJPOBM PO 4VOEBZ XIFO $BCSFSB SFUVSOFE IPNF BT CZ TVSWJWJOH B XJME GJOBM SPVOE 6 4 0QFO DIBNQJPO BOE UPME IJN UIBU CFHBO XJUI B TVQFSDIBSHFE UP HP GPS JU 0O UIJT UVSCVMFOU EBZ JU EVFM CFUXFFO 5JHFS 8PPET BOE UPPL FWFSZUIJOH $BCSFSB IBE 1IJM .JDLFMTPO BOE FOEFE XJUI B i5IJT JT B HSFBU NPNFOU UIF ESFBN TUVOOJOH DPMMBQTF CZ ,FOOZ 1FSSZ PG BOZ HPMGFS UP XJO UIF .BTUFST w *OEFFE UIJT .BTUFST IBE JU BMM $BCSFSB TBJE UISPVHI BO JOUFSQSFUFS 5XP TIPUT CFIJOE XJUI UXP IPMFT EVSJOH UIF HSFFO KBDLFU DFSFNPOZ i* N UP QMBZ $BCSFSB GPVHIU IJT XBZ JOUP B TP FNPUJPOBM * DBO CBSFMZ UBML w UISFF XBZ QMBZPGG XIFO UIF ZFBS )F DMPTFE XJUI B VOEFS UP PME 1FSSZ PO UIF WFSHF PG CFDPNJOH HFU JOUP UIF GJSTU UISFF NBO QMBZPGG HPMG T PMEFTU NBKPS DIBNQJPO BU UIF .BTUFST JO ZFBST CPHFZFE UIF GJOBM UXP IPMFT $IBE $BNQCFMM GJOJTIFE XJUI &WFO JO B QMBZPGG $BCSFSB MPPLFE B BOE XBT FMJNJOBUFE PO UIF MJLF UIF PEE NBO PVU GJSTU QMBZPGG IPMF XIFO IF GPVOE B )F ESPWF JOUP UIF USFFT IJU CVOLFS GSPN UIF NJEEMF PG UIF UI BOPUIFS TIPU PGG B (FPSHJB QJOF CVU GBJSXBZ UIFO XBUDIFE IJT GPPU QBS TUJMM TDSBNCMFE GPS QBS XJUI BO QVUU MJQ PVU PG UIF IPMF GPPU QVUU )F XPO XJUI B SPVUJOF QBS 5IF GJOBM IPVS XBT BMNPTU PO UIF UI IPMF XIFO 1FSSZ NJTTFE FOPVHI UP NBLF B EJ[[Z HBMMFSZ UIF HSFFO CBEMZ UP UIF MFGU BOE NBEF GPSHFU BCPVU UIF 8PPET .JDLFMTPO ZFU BOPUIFS CPHFZ UIJT POF UIF NPTU GJSFXPSLT IPVST FBSMJFS DPTUMZ PG UIFN BMM 'PS UIPTF XIP GFBSFE "VHVTUB i* NBZ OFWFS HFU UIJT PQQPSUVOJUZ /BUJPOBM IBE CFDPNF UPP UPVHI FWFS BHBJO CVU * IBE B MPU PG GVO UPP EVMM BOE GBS UPP RVJFU UIF SPBST CFJOH JO UIFSF w 1FSSZ TBJE i* IBE SFUVSOFE JO B CJH XBZ .JDLFMTPO UIF UPVSOBNFOU UP XJO * MPTU UIF BOE 8PPET QMBZFE UPHFUIFS JO B UPVSOBNFOU #VU "OHFM IVOH JO GJOBM SPVOE PG B NBKPS GPS UIF GJSTU UIFSF * XBT QSPVE PG IJN w UJNF JO FJHIU ZFBST BOE UIFZ QSPWFE $BCSFSB XIP XPO UIF 6 4 0QFO UP CF UIF CFTU VOEFSDBSE JO HPMG

% PVH 'FSHVTPO

5)& "440$*"5&% 13&44

.POEBZ "QSJM

&#+.; ');26+#0

/FXT

$MBTTJGJFET

&#+.; ');26+#0

.POEBZ "QSJM

&#+.; ');26+#0

$MBTTJGJFET

&#+.; ');26+#0

1VMTF

(JSMT BOE 4QPSUT

.POEBZ "QSJM

CZ +VTUJO #PSVT BOE "OESFX 'FJOTUFJO

CZ (MFOO .D$PZ

5IF %VQMFY

#Z -JOEB $ #MBDL

5PEBZ T #JSUIEBZ Â&#x2030; :PV E MPWF UP HFU BXBZ CVU DPNQMJDBUJPOT XJMM BSJTF 0G DPVSTF ZPV MPWF UBLJOH SJTLT BOE IBWJOH BNB[JOH BEWFOUVSFT (P BIFBE *U NJHIU CF B HPPE JEFB UP UBLF BMPOH B GFX PG ZPVS CFTU GSJFOET 5IFSF T TFDVSJUZ JO OVNCFST 5P HFU UIF BEWBOUBHF DIFDL UIF EBZ T SBUJOH JT UIF FBTJFTU EBZ UIF NPTU DIBMMFOHJOH

-2<.- +A '*A6. "7+.:< '2442*5; "$3044 1VU CFMPX BT DBSHP 1PUFOUJBMMZ QBJOGVM QSFDJQJUBUJPO 5SFBTVSF NBQ NFBTVSFT 5PMFEP T MBLF @@ %PNJOJ 4NFMMT -JLF /#" DFOUFST $PNQPTFS 4USBWJOTLZ 1BSJTJBO SJWFS $PODFJUFE #SJU SFDPSE MBCFM 'PSNFS &HZQU 4ZSJB BMMJBODF "CCS #FFST BOE BMFT &OKPZ TPNFUIJOH JNNFOTFMZ XJUI iVQw 'SFODI MPWF -BTU "CCS #BXM .JTT OFJHICPS 4DPUU XIP TVFE GPS IJT GSFFEPN 1MBO OPU DPNQMFUFMZ UIPVHIU PVU 4VGGJY XJUI IBSE PS TPGU 4FBTIFMM TFMMFS JO B UPOHVF UXJTUFS 3FUJSFNFOU PSH i4MJQQFSZw USFF "SDIBFPMPHJDBM GSBHNFOU

-JLF TPNF QPFUSZ 1SFGJY XJUI TQIFSF .FNPSBCMF QFSJPE i'PVDBVMU T 1FOEVMVNw BVUIPS 6NCFSUP .VDI DBNQBJHO SIFUPSJD $PVOU XJUI B

LFZCPBSE 8BSUT BOE BMM .FE TDIPPM DMBTT (SPVQ PG FJHIU 4USPMM JO UIF TIBMMPXT )FBE PWFS IFFMT JO MPWF 0VU PG GBTIJPO $BOPOJ[FE .MMFT 1IPOF CVUUPO

BCCS %08/ 'JYFE DIBSHF 1TZDIPMPHJDBM JOKVSZ -JLF NBOZ PME GBTIJPOFE MBNQT 8JTIJOH QMBDF *TSBFMJ QPSU DJUZ .PIBJS CFBSJOH HPBU

'SJEBZ T TPMVUJPOT

"XBSF PG 1BTTFE EPXO UBMFT $IBSMBUBO +PVSOBMJTU @@ 3PHFST 4U +PIOT )BJSEP $PBTUBM CJSE EFHSFFT GSPN //8 8PSET CFGPSF TJHIU BOE NJOE $IFFSMFBEJOH HSPVQT %PH DPMMBS UBSHFU #FODINBSL "CCS %PU PO BO PDFBO NBQ .BOVGBDUVSFS #VMMGJHIU TIPVU "JS SJGMF BNNP +VOF

i4UPQ SJHIU UIFSF w 4PGB TJEFT i* WF HPU JU OPX w 'BJUI PG NPSF UIBO POF CJMMJPO $SBWFO PG IPSSPS 5BNQB OFJHICPS CSJFGMZ 1PPI QPPI 4IPPU BHBJO 'SJHJE FQPDI .BSRVFF OBNF PGUFO (BMMJD HJSMGSJFOET 5IPSOZ GMPXFST 4XFSWFT BU TFB +VOJPST ) 4 FYBN i0UIFMMPw GFMMPX A T KB[[ )FSF JO 4QBJO

7JSHP "VH 4FQU Â&#x2030; 5PEBZ JT B Â&#x2030; " IBTTMF BU IPNF JOUFSGFSFT XJUI ZPVS QMBOT %PO U CF TVSQSJTFE JG UFNQFST BSF TIPSU JODMVEJOH ZPVS PXO #FTU OPU UP NBLF MJGF DIBOHJOH EFDJTJPOT EVSJOH UIFTF DPOEJUJPOT -JCSB 4FQU 0DU Â&#x2030; 5PEBZ JT B Â&#x2030; :PV DPVME CF TVGGFSJOH GSPN VOGVMGJMMFE FYQFDUBUJPOT 5IJOHT EJEO U UVSO PVU FYBDUMZ BT ZPV QJDUVSFE *G ZPV DBO U DIBOHF UIF GBDUT ZPV E CFUUFS DIBOHF UIF QJDUVSF

"SJFT .BSDI "QSJM Â&#x2030; 5PEBZ JT B Â&#x2030; 1PTUQPOF B OFX FOEFBWPS GPS KVTU B MJUUMF XIJMF (JWF ZPVSTFMG MPOHFS UP UIJOL BCPVU XIBU ZPV MM OFFE BOE XIBU ZPV IBWF 1SFQBSF GPS FNFSHFODJFT BOE EFWFMPQ B CBDLVQ QMBO BOE BO BMUFSOBUF SPVUF

4DPSQJP 0DU /PW Â&#x2030; 5PEBZ JT B Â&#x2030; /PU B HPPE EBZ UP HBNCMF %PO U FWFO UIJOL BCPVU JU $VU PVU UIF GMJSUJOH BOE PUIFS TVCUMF NFBOT PG TFEVDUJPO UPP 8BUDI BOE TFF XIBU IBQQFOT CVU EPO U CF B QMBZFS $POEJUJPOT IBWF DIBOHFE

5BVSVT "QSJM .BZ Â&#x2030; 5PEBZ JT B Â&#x2030; %PO U BTTVNF ZPVS GSJFOET XJMM HP BMPOH XJUI ZPVS FWFSZ XIJN 4PNFUIJOH UIBU MPPLT HPPE UP ZPV NBZ MPPL UPP FYQFOTJWF UP UIFN 5IJT JT SBSF CVU JU EPFT IBQQFO

4BHJUUBSJVT /PW %FD Â&#x2030; 5PEBZ JT B Â&#x2030; 5IFSF T TPNFUIJOH OPU RVJUF SJHIU BCPVU ZPVS DPNGPSUBCMF IPNF :PV OFFE UP BDU RVJDLMZ UP QSFTFSWF UIF QFBDF *U TIPVMEO U CF UPP EJGGJDVMU UP GJHVSF PVU XIBU UIBU JT %PO U IFTJUBUF

(FNJOJ .BZ +VOF Â&#x2030; 5PEBZ JT B Â&#x2030; %PO U MFU ZPVS QBSUOFS EP BOZUIJOH UP NFTT VQ ZPVS MPOH SBOHF QMBOT 5IJT NBZ SFRVJSF ZPV TQFOE TPNF UJNF UBMLJOH UPHFUIFS BCPVU UIFN .BLF TVSF ZPV DBO TVQQPSU FBDI PUIFS

$BQSJDPSO %FD +BO Â&#x2030; 5PEBZ JT B Â&#x2030; :PV NBZ IBWF KVTU XPO BO JNQPSUBOU CBUUMF 4IBSF ZPVS QSJWBUF TVDDFTT XJUI UIF QFSTPO ZPV MPWF CVU OPCPEZ FMTF %PO U NBLF QSPNJTFT OPX XBJU VOUJM UIF EVTU TFUUMFT

$BODFS +VOF +VMZ Â&#x2030; 5PEBZ JT B Â&#x2030; " OJDF PVUJOH ZPV WF CFFO UIJOLJOH BCPVU TIPVME QSPCBCMZ CF QPTUQPOFE 1VU JU PGG VOUJM MBUFS JO UIF XFFL BOE JU MM CF B MPU NPSF GVO 5IFSF BSF UPP NBOZ DPNQMJDBUJPOT OPX

"RVBSJVT +BO 'FC Â&#x2030; 5PEBZ JT B Â&#x2030; 5VSO EPXO BMM JOWJUBUJPOT UP DFMFCSBUF *U T B MJUUMF UPP TPPO (BUIFS NPSF SFTPVSDFT %PO U TQFOE HJWF BXBZ PS TIBSF XJUI PUIFST ZFU 8BJU UP GJOE PVU IPX NVDI ZPV IBWF

-FP +VMZ "VH Â&#x2030; 5PEBZ JT B Â&#x2030; :PV BOE ZPVS TXFFUIFBSU NBZ OPU BHSFF PO ZPVS TIPQQJOH QSJPSJUJFT 5SZ UP XPSL PVU B DPNQSPNJTF QPTTJCMZ CZ XBJUJOH %PO U SVTI JOUP B EFDJTJPO UIBU XJMM QMVOHF ZPV EFFQFS JOUP EFCU

1JTDFT 'FC .BSDI Â&#x2030; 5PEBZ JT B Â&#x2030; :PV SF DSFBUJWF BTTFSUJWF BOE MVDLZ *G ZPV EPO U MJLF XIBU T HPJOH PO UFMM ZPVS BEWFSTBSZ UP TUPQ :PV DBO EP BNB[JOH UIJOHT XJUI ZPVS UPOF PG WPJDF BOE ZPVS UBLF DIBSHF BUUJUVEF

D 5SJCVOF .FEJB 4FSWJDFT *OD ] %JTUSJCVUFE CZ .D$MBUDIZ 5SJCVOF *OGPSNBUJPO 4FSWJDFT

#9 *,& 3(*3*0/ "/% &'' /63&,

/4$3".#-& 5)&4& '063 6.#-&4 0/& -&55&3 50 &"$) 426"3& 50 '03. '063 03%*/"39 803%4 #!$ ' ' % &# %#* # (!" "

, #+ " # #% %& #"' "& ) %, ' '# #% &'% ' & #" #* '# &# ) ( # ( ) & '

= 3*#6/& &%*" &37*$&4 /$

-- *()54 &4&37&%

'SJEBZ T TPMVUJPOT

888 +6.#-& $0. %4

08 "33"/(& 5)& $*3$-&% -&55&34 50 '03. 5)& 46313*4& "/48&3 "4 46((&45&% #9 5)& "#07& $"3500/

; 059'45 10&#:

( T K F C [ Âµ U 7/$.'5 U Q N W V K Q P U 059'4 !*'0 5*' &7/2'& *'4 (+.6*: 4+%* *75$#0& 5*' 611- *+/ 61 =

.POEBZ "QSJM

&#+.; ');26+#0

4QPSUT

5&//*4

4BMVLJ UFOOJT TXFFQT 4BUVSEBZ GBMUFST 4VOEBZ

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Â&#x2030; JUT GJSTU IPNF MPTT QBSUJDVMBSMZ XFMM JO TJOHMFT 5IF 4BMVLJT USBWFMFE UP 8JDIJUB )PXFWFS UIF 4BMVLJ XPNFO ,BO 4BUVSEBZ BOE CFBU UIF XFSF OPU BCMF UP DPNQMFUF UIF 4IPDLFST XFFLFOE TXFFQ PG UIF IPNF TUBOE 5IF DPOUFTU XBT UJHIU BT UIFZ GFMM UP 8JDIJUB 4UBUF UISPVHIPVU CVU UIF 4BMVLJT UPPL BO /PUIXFIS TBJE UIF TDPSF PO UIF FBSMZ MFBE PO UIF 4IPDLFST BT UIFZ CPBSE EJE OPU UFMM UIF XIPMF TUPSZ UPPL UIF EPVCMFT QPJOU CZ XJOOJOH i8F EJEO U QMBZ CBE UPEBZ w UXP PG UIF UISFF NBUDIFT /PUIXFIS TBJE i"OZ UJNF ZPV QMBZ B "GUFS DBQUVSJOH UIF EPVCMFT UPVHIFS UFBN JU NBLFT ZPV CFUUFS *U QPJOU TFOJPS 'FMJQF 7JMMBTFOPS BOE NBLFT ZPV DPNF VQ XJUI CFUUFS TIPUT KVOJPS -VDBT 8BLFE FBDI ESPQQFE *U IFMQT VT HFU NPSF NFOUBMMZ UPVHI w /PUIXFIS BMTP TBJE UIF UIFJS NBUDIFT JO UIF /P BOE /P TJOHMFT GMJHIUT SFTQFDUJWFMZ EJGGFSFODF CFUXFFO 4BUVSEBZ BOE )PXFWFS 4*6 XBT BCMF UP SBMMZ 4VOEBZ T HBNF XBT MJLF OJHIU BT GSFTINBO &SJD 8FTU EFGFBUFE BOE EBZ 4IF TBJE 8JDIJUB 4UBUF +POBUIBO 0CSJTU BOE TFOJPS )VHP IBE UPQ OPUDI UBMFOU EPXO UP JUT 7JEBM HPU UIF CFTU PG %BWJE TFWFOUI QMBZFS $BWBMDBOUJ UP SFNBJO VOEFGFBUFE 5IF MPOF WJDUPSZ PO 4VOEBZ 4PQIPNPSF 4FCBTUJBO 3VCJBOP DBNF GSPN /P TJOHMF TFOJPS CFBU .BUU 5FJWBOT UP 'BE[BJ .BXJTJSF XIP EFGFBUFE DMJODI B XJO "OOB &HPSPWB .BXJTJSF i*U XBT BO FYDFMMFOU NBUDI IBT POMZ TVGGFSFE POF MPTT JO TJOHMFT CFUXFFO UXP FWFO UFBNT *U XBT NBUDIFT PO UIF TFBTPO KVTU SFBMMZ IBSE GPVHIU w 4*6 IFBE i*U XBT B HPPE NBUDI w .BXJTJSF DPBDI %BOO /FMTPO TBJE PG UIF TBJE i* UIJOL TIF T IBE CFUUFS EBZT XJO i8F SFBMMZ XBOUFE UP NBLF 8F CPUI QMBZFE XFMM CVU * UIJOL B TUBUFNFOU XJUI B XJO BHBJOTU TIF T CFUUFS UIBO IPX TIF QMBZFE w 8JDIJUB *U NFBOT XF DBO CFBU B 5IF 4BMVLJ XPNFO XJMM HPPE UFBN PO UIF SPBE w UBLF UIF XFFL PGG CFGPSF QMBZJOH 5IF NFO T UFBN IBT JUT UIFJS MBTU UISFF NBUDIFT PG UIF TJHIUT TFU PO &BTUFSO *MMJOPJT BT UIF TFBTPO OFYU XFFLFOE MFBEJOH VQ 4BMVLJT IPTU UIF 1BOUIFST JO UIFJS UP UIF .JTTPVSJ 7BMMFZ $POGFSFODF GJOBM IPNF NBUDI PG UIF TFBTPO PO DIBNQJPOTIJQT 4*6 XJMM UBLF PO DPOGFSFODF GPFT *OEJBOB 4UBUF 5VFTEBZ 5IF XPNFO T UFOOJT UFBN QMBZFE *MMJOPJT 4UBUF BOE #SBEMFZ CFGPSF HBNFT PO 4BUVSEBZ BOE 4VOEBZ UIF .7$ 5PVSOBNFOU

8FTU 7JEBM SFNBJO VOEFGFBUFE

&#+.; ');26+#0

4QPSUT

7EPYOM -RWMHIV 5IF $IJDBHP 5SJCVOF DPOEVDUFE B QPMM PG /#" XSJUFST BTLJOH XIP XPVME FBSO UIFJS WPUF GPS UIF MFBHVF T 3PPLJF PG UIF :FBS BXBSE 0G UIF XIP SFWFBMFE UIFJS EFDJTJPOT BMM QMBOOFE UP WPUF #VMMT HVBSE %FSSJDL 3PTF UP GJOJTI GJSTU 8PVME ZPV

* XPVME TBZ UIBU * XPVME WPUF GPS 3PTF GPS POF SFBTPO * WF IFBSE PG IJN * EPO U GPMMPX UIF /#" NVDI CFDBVTF IPOFTUMZ NPTU FWFSZ HBNF KVTU DPNFT EPXO UP UIF MBTU UXP NJOVUFT MFBWJOH BCPVU NJOVUFT PG GJMMFS UJNF /PU UFSSJCMZ FYDJUJOH UFMFWJ TJPO 8IFO * EP XBUDI JU UIPVHI * WF IFBSE UIJT ZPVOH NBO T OBNF CFGPSF * WF TFFO IJN QMBZ BOE IF MPPLT WFSZ JNQSFTTJWF )F XPVME IBWF NZ WPUF CVU UBLF UIBU XJUI B HSBJO PG TBMU *U T B WFSZ BQBUIFUJD WPUF

-6*4 $ .&%*/" MDN !TJV FEV

%&3&, 30##*/4 ESPCCJOT !TJV FEV

%FSSJDL 3PTF JT UIF QSJNBSZ SFBTPO UIF #VMMT BSF SFMFWBOU BHBJO $IJDBHP IBE GBMMFO PO IBSE UJNFT BOE MPPLFE UP IFBE CBDL JOUP UIF PCTDVSJUZ PG UIF /#" T DFM MBS 3PTF T FGGPSUT BSF FWFO NPSF FYUSBPSEJOBSZ JG ZPV UBLF JOUP DPOTJEFSBUJPO IF JT MFBSOJOH VOEFS UIF XJOH PG 7JOOZ %FM /FHSP XIP FOUFSFE UIF TFBTPO XJUI BT NVDI IFBE DPBDIJOH FYQFSJFODF BT ZPV PS NF *G 3PTF QMBZFE GPS B SFBM DPBDI IF XPVME QSPCBCMZ BWFSBHF QPJOUT BOE BTTJTUT QFS HBNF FO SPVUF UP B VOBOJNPVT /#" .PTU 7BMVBCMF 1MBZFS BXBSE

.POEBZ "QSJM

40'5#"--

IFS TQPUT w IFBE DPBDI ,FSSJ #MBZMPDL TBJE i5IFO %BOJFMMF (MPTTPO $0/5*/6&% '30. GPMMPXFE XJUI B POF IJUUFS BOE TIPXFE 5IF 4BMVLJ PGGFOTF TDPSFE B HSFBU QSFTFODF PO UIF NPVOE SJHIU QBJS PG SVOT JO UIF CPUUPN PG UIF BGUFS UISPXJOH BU .J[[PV 5IF UXP EJE GPVSUI JOOJOH JO TVQQPSU PG 8BUFST B HSFBU KPC UPEBZ w QJUDIJOH QFSGPSNBODF 8JMTPO (MPTTPO XBT JO UIF DJSDMF DPBYFE B POF PVU 8FEOFTEBZ BHBJOTU XBML BOE BEWBODFE UIF /P 5JHFST UP TFDPOE CBTF PO BT TIF BMMPXFE GJWF 4DINJEU T TJOHMF UP SVOT PO FJHIU IJUT DFOUFS GJFME +VOJPS KVTU XFOU VQ UIFSF JO POMZ JOOJOHT "MMJF )BOTPO 8BUFST BOE XBOUJOH UP TFF B (MPTTPO T LOPDLFE JO 8JMTPO BCJMJUZ UP XJUI B 3#* EPVCMF QJUDI BOE IJU JU IBSE TIVU EPXO .JTTPVSJ 4UBUF T PGGFOTF 4DINJEU TDPSFE 5IBU XBT NZ HPBM PO TFOJPS DBUDIFS IFMQFE FYUFOE 4*6 T +BZNF 8BNTMFZ T BOE * XBTO U TVSF JG JU DPOGFSFODF XJOOJOH TJOHMF UP MFGU GJFME UP TFWFO XBT HPJOH UP HP PVU TUSFBL XIJDI HBWF 4*6 B HBNFT 8JUI UIF MFBE JU XPVME TP * XBT SVOOJOH BT XJOT UIF 4BMVLJT BMTP DPOUJOVFE OPU SFMJORVJTI GBTU BT * DPVME UIFJS XJOOJOH XBZT ( M P T T P O PO UIFJS IPNF UVSG DPOUJOVFE UIF Â&#x2030; ,BUJF 4DINJEU 4BMVLJT EPNJOBODF TFOJPS PVUGJFMEFS XIFSF UIF UFBN PXOT PWFS PQQPTJOH BO SFDPSE 4*6 USBWFMT IJUUFST BT UIF UFBN DPMMFDUFE JUT UI BOE UI UP 5FOOFTTFF .BSUJO GPS B EPVCMFIFBEFS BHBJOTU UIF 0IJP TIVUPVUT PG UIF TFBTPO i* UIPVHIU /JLLJ 8BUFST EJE B 7BMMFZ $POGFSFODF T OJOUI QMBDF HSFBU KPC BOE XBT JO DPOUSPM CZ IJUUJOH UFBN PO 5VFTEBZ

Â¶Â¶*

"T * IBWF OP CJBT * IBWF OP QSPCMFN WPUJOH GPS %FSSJDL 3PTF )F IBT TJOHMF IBOEFEMZ NBEF UIF #VMMT SFMFWBOU BHBJO )F T B HSFBU TDPSFS JNQSPWJOH QBTTFS BOE IBT B OJHIUMZ IJHIMJHIU PO 4QPSUTDFOUFS )F T OPU POMZ B TVSFGJSF SPPLJF PG UIF ZFBS CVU B MFHJUJNBUF QJDL GPS .71 )F T NBEF NF DBSF BCPVU UIF #VMMT GPS UIF GJSTU UJNF TJODF UIF +PSEBO FSB

#*-- 1"-.

3:"/ 70:-&4 SWPZMFT !TJV FEV

* XPVME EFGJOJUFMZ WPUF GPS IJN BOE OPU KVTU CFDBVTF * BN B #VMMT GBO 5IFSF JT OPU BOPUIFS SPPLJF UIBU IBT EPOF NPSF UP IFMQ IJT UFBN UP UIF QMBZPGGT FTQFDJBMMZ B UFBN UIBU XBT OPU TMBUFE UP NBLF UIF QMBZPGGT 3PTF JT MFBEJOH SPPLJFT JO BTTJTUT XJUI QFS HBNF BOE JT IJHI PO NBOZ PUIFS DBUFHPSJFT "MM UIJT XJUI UIF QSFTTVSF PG CFJOH B /P QJDL MFBWFT NF WFSZ JNQSFTTFE

TJV%& DPN

50%": #*-- 1"-. 3&13&4&/54 5)& 8*//*/( 5&". '03 5)& 410354 53*7*" '03 $)"3*5: &7&/5 )&-% #: 5)& 410354 +063/"-*4. $-"44 4"563%":

#"4&#"--

$0/5*/6&% '30.

5IF 4BMVLJT DSBXMFE UIFJS XBZ CBDL JOUP UIF HBNF TDPSJOH TJOHMF SVOT JO UIF TJYUI BOE FJHIUI JOOJOHT 4FDPOE CBTFNBO 4DPUU &MNFOEPSG IJU IJT UIJSE IPNF SVO PG UIF ZFBS B UISFF SVO TIPU UP QVMM UIF 4BMVLJT

XJUIJO UISFF JO UIF OJOUI JOOJOH #VU (BNFDPDLT SFMJFWFS +PSEBO #FJTUMJOF SFDPSEFE UIF MBTU UXP PVUT UP TFDVSF UIF WJDUPSZ BOE IJT GJSTU TBWF PG UIF ZFBS 5IF 4BMVLJT XFSF VOBCMF UP SFWFSTF UIF PVUDPNF JO UIF OJHIUDBQ 5IF (BNFDPDLT IJU UIFJS XBZ UP B MFBE BHBJOTU 4BMVLJ

TUBSUFS "EBN $VSZOTLJ BOE SFMJFWFS %BWJE ,JOHUPO CVU TPMP IPNF SVOT CZ DFOUFS GJFMEFS $ISJT .VSQIZ BOE DBUDIFS 5ZMFS #VMMPDL DVU UIF EFGJDJU UP UISFF 5IF 4BMVLJT IBE B DIBODF UP UJF JU JO UIF OJOUI BGUFS CBDL UP CBDL UXP PVU TJOHMFT CZ GJSTU CBTFNBO .BSL ,FMMZ BOE TIPSUTUPQ .JDIBFM 4UBMUFS

%FTJHOBUFE IJUUFS $ISJT 4FSSJUFMMB DBNF VQ BT UIF UZJOH SVO CVU XBT VOBCMF UP DPNQMFUF UIF SBMMZ BT IF GMJFE PVU UP MFGU GJFME UP FOE UIF HBNF i*U T GSVTUSBUJOH 8F BSF WFSZ UBMFOUFE BOE XF EPO U QFSGPSN CFDBVTF XF EPO U EP UIF UIJOHT XFMM UP QSFQBSF PVSTFMWFT w ,FMMZ TBJE i8F EPO U QFSGPSN PS DPNF

UP UIF HBNFT MJLF B XJOOJOH UFBN JU T UIF MJUUMF UIJOHT BOE UBLJOH DBSF PG UIF UIJOHT XF OFFE UP EP *U T GSVTUSBUJOH UP TFF TVDI B UBMFOUFE TRVBE VOEFSQFSGPSNJOH w 5IF 4BMVLJT XJMM MPPL UP HFU CBDL JO UIF XJO DPMVNO XIFO UIFZ IFBE UP $BQF (JSBSEFBV .P 5VFTEBZ UP UBLF PO 4PVUIFBTU .JTTPVSJ

4Ä¡Ä Ä£Ä¥Ä¤ %" * -: & ( : 1 5 * " /

.0/%":

*/4*%&3 QBHF )BT %FSSJDL 3PTF QVU GPSUI BO BXBSE XJOOJOH QFSGPSNBODF GPS UIF #VMMT 0/-*/& TJV%& DPN $IFDL PVU TQPSUT QIPUP HBMMFSJFT

"13*-

40'5#"--

8BUFST XBML PGG TQBSL 4BMVLJ TXFFQ

+".&4 .$%0//06() ] % "*-: & (:15*"/ 4*6 TFOJPS PVUGJFMEFS ,BUJF 4DINJEU JT XFMDPNFE BU IPNF QMBUF BGUFS IFS XBML PGG IPNF SVO UP HJWF UIF 4BMVLJT B WJDUPSZ JO UIF TFDPOE HBNF PG 4BUVSEBZ T EPVCMF IFBEFS BHBJOTU .JTTPVSJ 4UBUF

-VJT $ .FEJOB %"*-: &(:15*"/ -$. !4*6 &%6

1 PXFS BOE QJUDIJOH XFSF BMM UIF 4*6 TPGUCBMM UFBN OFFEFE UP QVMM PVU B EPVCMFIFBEFS TXFFQ PG .JTTPVSJ 4UBUF PO 4BUVSEBZ BU $IBSMPUUF 8FTU 4UBEJVN

5IF /P 4BMVLJT .JTTPVSJ 7BMMFZ $POGFSFODF SFCPVOEFE GSPN B MPTT BU /P .JTTPVSJ PO 8FEOFTEBZ BT TPQIPNPSFT /JLLJ 8BUFST BOE %BOJFMMF (MPTTPO FBDI UPTTFE TFWFO TDPSFMFTT JOOJOHT BHBJOTU UIF #FBST 8BUFST XBT JO UIF DJSDMF GPS UIF UFBN T XJO JO UIF UXJO CJMM T GJSTU HBNF XIJMF (MPTTPO UPFE UIF

SVCCFS JO HBNF UXP T XJO (MPTTPO XIP BMMPXFE POMZ B MFBEPGG TJOHMF JO UIF TFWFOUI JOOJOH UP "TIMFZ ,OFIBNT XBT UIF CFOFGJDJBSZ PG TFOJPS ,BUJF 4DINJEU T XBML PGG IPNF SVO UP HJWF 4*6 UIF XJO 4DINJEU EFMJWFSFE UIF HBNF XJOOJOH CMBTU PO UIF GJSTU QJUDI BGUFS UIJSE CBTFNBO ,BUJF 8BHOFS

BOE SJHIU GJFMEFS ,BUJF 8JMTPO XFSF SFUJSFE CZ #FBST TUBSUFS -BVSFO .D(JOMFZ UP TUBSU UIF JOOJOH i* KVTU XFOU VQ UIFSF XBOUJOH UP TFF B QJUDI BOE IJU JU IBSE w 4DINJEU TBJE i5IBU XBT NZ HPBM BOE * XBTO U TVSF JG JU XBT HPJOH UP HP PVU TP * XBT SVOOJOH BT GBTU BT * DPVME w 5IF TFOJPS MFGU GJFMEFS JT GPS

XJUI UISFF SVOT TDPSFE JO IFS MBTU UISFF HBNFT 8BUFST CBGGMFE .JTTPVSJ 4UBUF .7$ JO UIF TFSJFT GJSTU HBNF 5IF SJHIU IBOEFE TUBSUFS TUSVDL PVU TJY CBUUFST BOE BMMPXFE UISFF IJUT BT TIF CMBOLFE UIF #FBST 4FF 40'5#"-- ]

#"4&#"--

4BMVLJT MPTF UXP JO SBJO TIPSUFOFE XFFLFOE TFSJFT +46 TUBSUT FBSMZ PGUFO BHBJOTU 4BMVLJ TUBSUFST 3ZBO 7PZMFT %"*-: &(:15*"/ 370:-&4!4*6 &%6

4 *6 BTTPDJBUF IFBE DPBDI ,FO )FOEFSTPO TBJE JU XBT UIF TBNF PME TUPSZ GPS UIF 4BMVLJ CBTFCBMM UFBN 4BUVSEBZ BOE IF JT UJSFE PG SFBEJOH JU 5IF 4BMVLJT XFSF TXFQU JO UIFJS SBJO TIPSUFOFE XFFLFOE TFSJFT BHBJOTU +BDLTPOWJMMF 4UBUF 6OJWFSTJUZ 4BUVSEBZ BU "CF .BSUJO 'JFME "GUFS 'SJEBZ T HBNF XBT DBODFMFE CFDBVTF PG SBJO UIF 4BMVLJT ESPQQFE UIF OPO DPOGFSFODF EPVCMFIFBEFS i8F EJEO U QMBZ IBSE XF EJEO U QMBZ XJUI NVDI FGGPSU PS QBTTJPO

BOE JU T TUBSUJOH UP HFU B MJUUMF PME w )FOEFSTPO TBJE i8F WF HPU UP TUBSU QMBZJOH CFUUFS BOE * DBO HJWF ZPV B MJTU PG NJTUBLFT XF NBEF UPEBZ 8F KVTU EP TUVQJE MJUUMF UIJOHT *U T UIF TBNF CPPL CVU B EJGGFSFOU DIBQUFS w 5IF QBJS PG MPTTFT NBSLT UIF 4BMVLJT TFWFOUI JO UIFJS MBTU OJOF HBNFT *U JT UIF UIJSE UJNF UIBU UIFZ IBWF CFFO TXFQU UIJT ZFBS +BDLTPO 4UBUF UPPL DPOUSPM FBSMZ JO CPUI HBNFT 4BUVSEBZ 5IF (BNFDPDLT KVNQFE PVU FBSMZ PO UIF 4BMVLJT JO UIF GJSTU HBNF TDPSJOH B SVO JO UIF GJSTU UXP JOOJOHT CFGPSF CSFBLJOH JU PQFO XJUI B GPVS SVO GPVSUI JOOJOH 5IF 4BMVLJT DPVME OPU GJOE BO BOTXFS UP (BNFDPDL TUBSUFS %BOJFM 8BUUT XIP BMMPXFE KVTU POF SVO BOE UXP IJUT JO JOOJOHT 4FF #"4&#"-- ]

4BMVLJ PVUGJFMEFS "BSPO 3PCFSUT EVDLT JO KVTU FOPVHI UJNF UP BWPJE CFJOH IJU CZ B XJME QJUDI 3PCFSUT XBT FWFOUVBMMZ XBMLFE 4*6 ESPQQFE CPUI HBNFT PG B EPVCMFIFBEFS BOE UP +BDLTPOWJMMF 4UBUF 6OJWFSTJUZ &7"/ %"7*4 % "*-: & (:15*"/