.03& 0/ 4*6%& $0.
4QPSUT 4*6 XPNFO T HPMG UFBN MPPLT CBDL PO TFBTPO BGUFS EJTBQQPJOUJOH GJOJTI 1VMTF $PMVNO 5BLF B USJQ CBDL XJUI /JDL -PXF XIFO IF CFDBNF UIF i+FTVT PG $PPM w #MPH 8BST 8IBU JT UIF NPTU NFNPSBCMF DPOUSPWFSTJBM RVPUF
5PEBZ )JHI -PX 8FEOFTEBZ )JHI -PX 5IVSTEBZ )JHI -PX
%ĒĚĝĪ &ĘĪġĥĚĒğ 56&4%":
$0-6./ 1"(& (VT #PEF TBZT XF NVTU MFBSO GSPN PVS QBTU
"13*-
70-6.& /0
1"(&4
4FYVBM BTTBVMU TVSWJWPST TFFL UP TUPQ UIF WJPMFODF
#SBOEZ 0YGPSE %"*-: &(:15*"/ #3"/%: 09'03%!4*6%& $0.
" QBJS PG UPSO TUBJOFE VOEFSXFBS QJOOFE PO B XIJUF 5 TIJSU VOEFS UIF XPSET i8IFO ZPV SBQFE NF UIJT JTO U BMM ZPV UPSFw IBOHT XJUI SPVHIMZ PUIFS TIJSUT BT NFNPSJFT BOE NFTTBHFT BCPVU TFYVBM BTTBVMU BOE WJPMFODF 5IF 8PNFO T $FOUFS EJTQMBZFE 5 TIJSUT EFTJHOFE CZ TVSWJWPST PG TFYVBM BTTBVMU BOE SFMBUJPOTIJQ WJPMFODF
PO DMPUIFTMJOFT TUSVOH EPXO UIF FOUJSF MFOHUI PG UIF 'BOFS )BMM CSFF[FXBZ .POEBZ JO DPOKVODUJPO XJUI 4FYVBM "TTBVMU "XBSFOFTT .POUI &BDI DPMPS SFQSFTFOUFE UIF UZQF PG WJPMFODF UIF WJDUJN FOEVSFE XIJUF GPS UIPTF XIP EJFE BT B SFTVMU PG WJPMFODF ZFMMPX BOE CFJHF GPS TVSWJWPST PG EPNFTUJD WJPMFODF SFE QJOL BOE PSBOHF GPS TVSWJWPST PG TFYVBM BTTBVMU CMVF BOE HSFFO GPS TVSWJWPST PG DIJME BCVTF PS JODFTU BOE MBWFOEFS PS QVSQMF GPS UIPTF BUUBDLFE CFDBVTF PG UIFJS TFYVBM PSJFOUBUJPO
0OF XIJUF 5 TIJSU XJUI UISFF UJF EZFE DJSDMFT CPSF UIF XPSET iJODFTU w iCBUUFSFEw BOE iSBQFEw JO DJSDMFT PG UIFJS EFTJHOBUFE DPMPS i5IFZ SF MJLF DBOWBTFT w TBJE $BNJMMF %BWJT WPMVOUFFS SFDSVJUFS GPS UIF DFOUFS i4PNFUJNFT ZPV MM SFBE UIFN BOE UIFZ SF HSBQIJD BOE QBJOGVM BOE PUIFS UJNFT ZPV MM SFBE POFT UIBU BSF WFSZ IPQFGVM BOE UBML BCPVU CFJOH B TVSWJWPS 5IJT JT OPU KVTU UP SBJTF BXBSFOFTT CVU B IFBMJOH NFUIPE GPS UIPTF XIP IBWF CFFO WJDUJNJ[FE w
,BJUMJO "EBNT B KVOJPS GSPN )FSSJO TUVEZJOH BOUISPQPMPHZ TBJE TIF TUPQT CZ UIF DMPUIFTMJOF FWFSZ ZFBS BOE IPQFT FWFSZPOF XIP NJTTFT UIF 'BOFS EJTQMBZ TFFT JU FMTFXIFSF 4IF TBJE UIF EJTQMBZ T DPOTJTUFOU QSFTFODF JT BQQSPQSJBUF CFDBVTF BCVTF JT BO POHPJOH JTTVF i&WFSZ ZFBS * TFF UIJT JU T B EJGGFSFOU FYQFSJFODF w TIF TBJE i*U LJOE PG BGGFDUT ZPV BT B XPNBO BOE NBLFT NF GFFM GPS BMM UIF PUIFS XPNFO XIP IBWF CFFO BCVTFE .FO UPP CFDBVTF BCVTF JT OPU
-BVSB ,FOOFZ B TFOJPS GSPN $SZTUBM -BLF TUVEZJOH TPDJBM XPSL QVUT TJHOFE IBOET PO B MBSHF CPBSE BT QBSU PG UIF i5IFTF )BOET %PO U )VSUw QSPKFDU .POEBZ PVUTJEF PG 'BOFS )BMM 5IF QSPKFDU XBT QVU PO CZ 1SPHSFTTJWF .BTDVMJOJUJFT .FOUPST B DBNQVT HSPVQ PG NFO EFEJDBUFE UP QSFWFOUJOH WJPMFODF BHBJOTU XPNFO BOE XBT IFME JO DPOKVODUJPO XJUI UIF $MPUIFTMJOF 1SPKFDU #3"/%0/ $)"11-& % "*-: & (:15*"/ MJNJUFE UP XPNFO w 5IF $MPUIFTMJOF 1SPKFDU XJMM BMTP CF PO EJTQMBZ VOUJM "QSJM BU 6OJWFSTJUZ .BMM BDDPSEJOH UP B DBMFOEBS QSPWJEFE CZ UIF DFOUFS "MTP JO UIF 'BOFS )BMM CSFF[FXBZ .POEBZ UIF 1SPHSFTTJWF .BTDVMJOJUJFT .FOUPST PGGFSFE NFO B DIBODF UP TJHO B QBQFS DVUPVU PG B IBOE UP EFNPOTUSBUF UIFJS QMFEHF OPU UP DPNNJU WJPMFODF BT QBSU PG UIFJS 5IFTF )BOET %PO U )VSU EJTQMBZ 4FF "8"3&/&44 ]
+PVSOBMJTUT VTF HSBOU NPOFZ UP FYQPTF DSJTJT DPOEJUJPOT #BSUPO -PSJNPS %"*-: &(:15*"/ #"350/ -03*.03!4*6%& $0.
DSJTFT XJUI GVOEJOH GSPN UIF 1VMJU[FS $FOUFS 5IF 1VMJU[FS $FOUFS JT B OPU GPS QSPGJU PSHBOJ[BUJPO UIBU QBZT KPVSOBMJTUT UP QSPEVDF JOEFQFOEFOU JOUFSOBUJPOBM TUPSJFT UIBU IBWF OPU CFFO DPWFSFE CZ PUIFS 6 4 NFEJB PSHBOJ[BUJPOT .BZ T WJEFP QSPKFDU UPME UIF TUPSZ PG BO ZFBS PME XPNBO XIP HBWF HJSMT GBNJMJFT HPBUT UP SFMJFWF GJOBODJBM CVSEFOT UIBU DBVTFE UIFN UP TFMM UIFJS EBVHIUFST JOUP TMBWFSZ .JDIBFM ,BWBOBHI B GPSNFS /BUJPOBM 1VCMJD 3BEJP DPSSFTQPOEFOU GPMMPXFE .BZ T WJEFP XJUI IJT SFQPSU PO B XPNBO JO $POHP XIP IBE CFFO EFTFSUFE CZ IFS IVTCBOE PG ZFBST BGUFS B TPMEJFS SBQFE IFS
. FSFEJUI .BZ XBOUFE UP UFMM UIF TUPSZ PG HJSMT XIPTF GBNJMJFT TPME UIFN JOUP TMBWFSZ JO XFTUFSO /FQBM CVU CVEHFU DVUT JO IFS $BMJGPSOJB OFXTSPPN XFSF LFFQJOH IFS GSPN HFUUJOH UIFSF )BE JU OPU CFFO GPS B HSBOU GSPN UIF 1VMJU[FS $FOUFS PO $SJTJT 3FQPSUJOH UIF TUPSZ PG UIF HJSMT JO /FQBM XPVME IBWF HPOF VOUPME .BZ TBJE .POEBZ EVSJOH B MFDUVSF TQPOTPSFE CZ UIF 4DIPPM PG +PVSOBMJTN UIF 1BVM 4JNPO 1VCMJD 1PMJDZ *OTUJUVUF 8PNFO T 4UVEJFT BOE UIF (MPCBM .FEJB 3FTFBSDI $FOUFS 5IF MFDUVSF GFBUVSFE .BZ BOE UXP PUIFS KPVSOBMJTUT XIP SFQPSUFE PO JOUFSOBUJPOBM 4FF +063/"-*454 ]
1BOFMJTUT XJUI UIF 1VMJU[FS $FOUFS PO $SJTJT 3FQPSUJOH BEESFTT RVFTUJPOT BGUFS QSFTFOUJOH i8PNFO JO $SJTJTw BU UIF -BX 4DIPPM "VEJUPSJVN .POEBZ 1BOFMJTU .JDIBFM ,BWBOBHI EFTDSJCFE SBQF BT B NFUIPE PG XBS JO $POHP XIFSF IF TBJE SPVHIMZ QFSDFOU PG IVTCBOET SFKFDU UIFJS XJWFT JG UIFZ WF CFFO SBQFE %*"/" 40-*80/ % "*-: & (:15*"/