July1409Complete

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

1VMTF A&OUPVSBHF IFBET JOUP JUT TJYUI TFBTPO CVU TIPVME JU 1IPUP HBMMFSZ -PWF PVS NBJO BSU UPEBZ $IFDL PVU PVS GFBUVSFT HBMMFSZ JO (VTCPES T QIPUPTUSFBN BU 'MJDLS DPN

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

%ĒĚĝĪ &ĘĪġĥĚĒğ 56&4%":

$"3500/ 1"(& (VT #PEF TBZT * N B 4DJFOUPMPHJTU

+6-:

70-6.& /0

1"(&4

$PMF BOOPVODFT SVO GPS MJFVUFOBOU HPWFSOPS 4VTBOOBI 1SJDF %"*-: &(:15*"/ 413*$& !4*6 &%6

#SBE $PMF

.BZPS #SBE $PMF TBJE .POEBZ IF XPVME VTF IJT USBDL SFDPSE JO JNQSPWJOH $BSCPOEBMF GSPN SFTVSGBDJOH SPBET UP JOWFTUJOH JO

JOGSBTUSVDUVSF BOE ZPVUI KPC QSPHSBNT UP QSPQFM IJNTFMG GPSXBSE JO UIF SBDF GPS *MMJOPJT MJFVUFOBOU HPWFSOPS $PMF XIP BOOPVODFE IJT DBOEJEBDZ PO UIF 3FQVCMJDBO UJDLFU GPS PO UIF $JUJ[FO T GPS $PMF 8FC TJUF TBJE IF NBEF IJT EFDJTJPO UP SVO CBTFE PO UIF MBDL PG MFBEFSTIJQ BOE BDUJPO JO TUBUF MFWFM HPWFSONFOU i1FPQMF BSF QJDLFUJOH BOE SJPUJOH CFDBVTF XF EPO U IBWF B TUBUF CVEHFU w

IF TBJE i1FPQMF BSF OPU TVSF JG UIFZ DBO QBZ UIFJS MJHIU CJMM PS UBLF UIFJS LJE UP UIF EFOUJTU CFDBVTF UIFJS KPC JT JO MJNCP w $PMF TBJE JO IJT TJY ZFBST BT NBZPS IF IBT IBE SFTQPOTJCJMJUJFT UIBU DPVME FMFWBUF IJT SFDPHOJUJPO JO PUIFS QBSUT PG *MMJOPJT )F TBJE IF BOE UIF $JUZ $PVODJM IBWF DIJQQFE BXBZ BU DJUZ JTTVFT FMJNJOBUJOH UIF DJUZ T QPSUJPO PG QSPQFSUZ UBYFT JOWFTUJOH JO XBUFS

BOE TFXFS MJOFT BOE SFWJUBMJ[JOH UIF IPVTJOH NBSLFU CZ FODPVSBHJOH OFX EFWFMPQNFOU i8F WF TFFO NPSF IPVTJOH EFWFMPQNFOU JO UIF MBTU GJWF ZFBST UIBO XF IBWF JO UIF MBTU ZFBST w $PMF TBJE .JLF -BXSFODF GPSNFS EJSFDUPS PG UIF 1BVM 4JNPO 1VCMJD 1PMJDZ *OTUJUVUF TBJE $PMF XPVME GBDF NBOZ IVSEMFT TVDI BT MBDL PG OBNF

SFDPHOJUJPO BOE IJT GBUF NJHIU EFQFOE FOUJSFMZ PO UIF 3FQVCMJDBO DBOEJEBUF GPS HPWFSOPS (PWFSOPS BOE MJFVUFOBOU HPWFSOPS SVO BT TFQBSBUF FOUJUJFT JO UIF QSJNBSZ BOE UIFO SVO UPHFUIFS JO UIF HFOFSBM FMFDUJPO -BXSFODF TBJE

4FF $0-& ]

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

(PW 2VJOO TJHOT DBQJUBM QMBO NJMMJPO IFBEFE UP 4*6$ #SJBO 'FMEU %"*-: &(:15*"/ #'&-%5!4*6 &%6

"GUFS OFBSMZ B EFDBEF T XPSUI PG EFMBZT GSPN TUBUF HPWFSONFOU UIF VOJ WFSTJUZ JT TFU UP CFOFGJU GSPN UIF TUBUF T GJSTU DPOTUSVDUJPO QMBO JO TFWFO ZFBST (PW 1BU 2VJOO TJHOFE CJMMT .POEBZ UIBU XJMM HJWF UIF TUBUF CJMMJPO XPSUI PG DPOTUSVDUJPO GVOET NJMMJPO PG XIJDI XJMM CF IFBEJOH UP 4*6$ GPS DPOTUSVDUJPO QVSQPTFT i8F BSF WFSZ HSBUFGVM GPS UIF GBDU UIBU UIF DBQJUBM GJOBMMZ DBNF UISPVHI BOE UIBU 4*6 XBT BCMF UP HFU BCPVU NJMMJPO PO JU w TBJE 4*6 1SFTJEFOU (MFOO 1PTIBSE i$POTJEFSJOH UIBU PWFS UIF MBTU ZFBST PS TP XF IBWF HPUUFO

BCPVU NJMMJPO XF GFFM QSFUUZ HPPE BCPVU JU BDUVBMMZ 5IBU JT BCPVU BT HPPE BT XF DBO FYQFDU SJHIU OPX w )JHIMJHIUJOH UIF VOJWFSTJUZ T GVOET XJMM CF NJMMJPO GPS UIF DPOTUSVD UJPO PG UIF QSPQPTFE 5SBOTQPSUBUJPO &EVDBUJPO $FOUFS BOE SPVHIMZ NJMMJPO UP DPNQMFUF UIF .PSSJT -JCSBSZ SFOPWBUJPO JODMVEJOH NPOFZ GPS UIF CPPL USBOTGFS GSPN .D-BGGFSUZ "OOFY UP UIF MJCSBSZ 5IF VOJWFSTJUZ XJMM BMTP HFU NJMMJPO UP GJY UIF $PNNVOJDBUJPOT #VJMEJOH BOE NPOFZ UP IFMQ SFEVDF UIF EFGFSSFE NBJOUFOBODF CJMM XIJDI JT NPSF UIBO NJMMJPO i5IF 5FDI $FOUFS XJMM SFBMMZ IFMQ XJUI FOSPMMNFOU BOE IFMQ XJUI B MPU

¶¶-

PG TUVGG UIBU XF OFFE GPS UIF BWJBUJPO XPVME UBLF IJT QSPQPTFE JODPNF QSPHSBN BOE BVUPNPUJWF QSPHSBN w UBY JODSFBTF B QSPQPTBM 1PTIBSE $IBODFMMPS 4BN TBJE XBT UIF (PMENBO TBJE i8F VOJWFSTJUZ T MBTU XJMM BU MPOH MBTU CF SFNBJOJOH IPQF UP SFDFJWF BEF BCMF UP GJOJTI UIF FU T GBDF JU JG OP MJCSBSZ 5IF CJMM JT RVBUF GVOEJOH JODPNF UBY JT JO PGG UIF UBCMF VOUJM HPPE CFDBVTF NBZCF QMBDF CZ UIFO UIBO /PWFNCFS JO JU XJMM QSPWJEF TPNF FNQMPZNFOU BOE FWFSZUIJOH JT PGG UIF DMJGG FGGPSUT UP SFTPMWF QFPQMF DBO GFFM B CJU CFDBVTF UIFSF XJMM CF OP BO VOCBMBODFE CFUUFS w TUBUF CVEHFU BT GVOEJOH MFGU BU BMM #VU BT UIF VOJ RVJDLMZ BT QPT (MFOO 1PTIBSE WFSTJUZ SFKPJDFT JO 4*6 1SFTJEFOU TJCMF i-FU T GBDF JU JUT DPOTUSVDUJPO GVOET JU TIPVME CF XBSZ PG UIF JG OP JODPNF UBY JT JO QMBDF CZ UIFO GVUVSF 1PTIBSE TBJE UIBO FWFSZUIJOH JT PGG UIF DMJGG -BTU XFFL 2VJOO TBJE IF CFDBVTF UIFSF XJMM CF OP GVOEJOH

MFGU BU BMM w 1PTIBSE TBJE i5IFSF JT POMZ FOPVHI GVOEJOH SJHIU OPX GPS TJY NPOUIT -FU T KVTU QSBZ BGUFS UIF GJMJOH QFSJPE UIBU MFHJTMBUPST TJU EPXO BOE HFU UIFJS IFBET UPHFUIFS DPNJOH JOUP %FDFNCFS XJUI GVOE JOH JO QMBDF w 1PTIBSE TBJE 2VJOO T TUSBUFHZ PO EFMBZJOH B UBY JODSFBTF WPUF JT QSPCBCMZ GPS UIF CFTU /PU POMZ XJMM JU HSBOU 2VJOO TJY NPSF NPOUIT UP XPSL XJUI MFHJTMBUJWF MFBEFST JU XJMM BMTP BMMPX MFHJTMBUPST UP TFF XIP UIFJS PQQPTJUJPO XJMM CF JO VQDPNJOH QSJNBSZ FMFDUJPOT 1PTIBSE TBJE 4FF #6%(&5 ]

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

5VFTEBZ +VMZ

$0-&

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

)PXFWFS MJOLJOH POFTFMG UP B HVCFSOBUPSJBM HPWFSOPS CFGPSF UIF QSJNBSZ DPVME DBVTF SPDLZ SFMBUJPOT TIPVME B DBOEJEBUF IF PS TIF EJE OPU FOEPSTF XJO UIF QSJNBSZ IF TBJE $PMF BQQFBST UP CF B HVCFSOBUJPOBM NPEFSBUF 3FQVCMJDBO BOE WPUFST XPVME MJOL IJN UP B NPEFSBUF DBOEJEBUF TVDI BT ,JSL %JMMBSE TBJE +PIO +BDLTPO B WJTJUJOH QSPGFTTPS BU UIF 1BVM 4JNPO 1VCMJD 1PMJDZ *OTUJUVUF %JMMBSE BOOPVODFE IJT DBOEJEBDZ GPS HPWFSOPS BU UIF 8JMMJBNTPO

#6%(&5

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

i5IFSF XBT OP XBZ UIF JODPNF UBY XBT HPJOH UP QBTT w IF TBJE i#VU UIF JODPNF UBY JT TUJMM UIF POMZ UIJOH UIBU DBO CF EPOF w 4UJMM (PMENBO TBJE IF SFNBJOT DPODFSOFE BCPVU UIF TFDPOE IBMG PG UIF GJTDBM ZFBS i8F IBWF QVU PVSTFMWFT JO B QPTJ UJPO XJUI GJOBODJBM BJE w (PMENBO TBJE i'PS FYBNQMF XF IBWF OP .POFUBSZ "TTJTUBODF 1SPHSBN JO UIF TQSJOH 8F IBWF GSPOUMPBEFE JU BOE DVU JU JO IBMG BOE JU T BMM JO UIF GBMM TFNFTUFS w

$BMFOEBS 4VCNJU DBMFOEBS JUFNT UP UIF %"*-: &(:15*"/ OFXTSPPN $PNNVOJDBUJPOT BU MFBTU UXP EBZT CFGPSF UIF FWFOU

3&"$)*/( 64 1)0/&

"% '"9

&."*- &%*503!4*6%& $0.

/FXT

$PVOUZ "JSQPSU PO 5IVSTEBZ $PMF TBJE IJT JOUFOU JT UP SVO JOEFQFOEFOUMZ GSPN B DBOEJEBUF GPS HPWFSOPS VOUJM BGUFS UIF QSJNBSZ FMFDUJPO +BDLTPO TBJE IF UIPVHIU $PMF T FYQFSJFODF BT NBZPS XPVME USBOTGFS UP UIF PGGJDF PG MJFVUFOBOU HPWFSOPS CFDBVTF CPUI QPTJUJPOT BSF JO UIF FYFDVUJWF CSBODI i$MFBSMZ TPNF PG UIF EVUJFT PG MJFVUFOBOU HPWFSOPS XPVME CF TPNF XIBU MJLF CFJOH UIF NBZPS PG B DJUZ w +BDLTPO TBJE "T PG .POEBZ UIF MJTU PG DBOEJ EBUFT GPS MJFVUFOBOU HPWFSOPS JODMVEFE

5IPNBT $BTUJMMP 4DPUU -FF $PIFO BOE +VTUJO 0CFSNBO BT %FNPDSBUT GSPN OPSUIFSO *MMJOPJT BOE 3BOEZ 8IJUF B 3FQVCMJDBO GSPN )BNJMUPO $BOEJEBUFT GPS HPWFSOPS JODMVEF %FNPDSBU 1BU 2VJOO BOE 3FQVCMJDBOT %JMMBSE #JMM #SBEZ .BUU .VSQIZ BOE %BO 1SPGU BNPOH PUIFST $JUJ[FOT GPS $PMF IBT SBJTFE NPSF UIBO GSPN +BOVBSZ UP +VOF BDDPSEJOH UP UIF 4UBUF #PBSE PG &MFDUJPOT 8FC TJUF $PMF TBJE IF XPVME CF CVTZ HBUIFSJOH QFUJUJPO TJHOBUVSFT BOE GVOESBJTJOH GPS UIF 'FCSVBSZ QSJNBSZ

8JUI BO PQFSBUJPOT CVEHFU TUJMM OPU JO QMBDF BMM TUBUF BQQSPQSJBUFE HSBOUT BSF CFJOH QVU PO IPME NFBOJOH

NJMMJPOT PG EPMMBST XPSUI PG HSBOUT BSF JO KFPQBSEZ PG CFJOH MPTU i'PS VT UIBU JT B NBKPS CMPX w

(PMENBO TBJE i8F EFQFOE PO HSBOUT BOE JG UIFSF BSF OP HSBOU GVOET UIFSF BSF OP HSBOU GVOET *U JT B WFSZ TFSJPVT QSPCMFN GPS VT w 5IF HPPE OFXT (PMENBO TBJE JT UIBU 2VJOO T QSPQPTBM JT JO CFUUFS TIBQF UP CF QBTTFE JG QSPQPTFE BHBJO JO /PWFNCFS i3JHIU OPX UIF %FNPDSBUT IBWF FOPVHI WPUFT UP QBTT UIF JODSFBTF w (PMENBO TBJE i#VU JO /PWFNCFS UIF QSJNBSJFT XJMM CF PVU PG UIF XBZ BOE UIFZ XJMM IBWF B CFUUFS JEFB PG XIP UIF PQQPTJUJPO JT #VU UIF %FNPDSBUT

XPVME BMTP IBWF UP UBLF UIF SBQ GPS UIF JODSFBTF *U T WFSZ EJGGJDVMU 8IP LOPXT XIBU XJMM IBQQFO w

1PMJDF #MPUUFST

$PSSFDUJPOT

¶¶5

IFSF XBT OP XBZ UIF JODPNF UBY XBT HPJOH UP QBTT #VU UIF JODPNF UBY JT TUJMM UIF POMZ UIJOH UIBU DBO CF EPOF ‰(MFOO 1PTIBSE 4*6 1SFTJEFOU

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

5IFSF BSF OP JUFNT UP SFQPSU BU UIJT UJNF

%&4*(/ $)*&' $)3*45*"/ )0-5

&95

8&# &%*503

$*5: &%*503 %*"/" 40-*80/

&95

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

&95

%*"/" 40-*80/

&95

#64*/&44 "% %*3&$503 +&33: #64)

&95

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

&95

."/"(*/( &%*503 +0& 3&)"/"

&95

410354 &%*503 4&"/ .$(")"/

&95

"%7&35*4*/( ."/"(&3 $"33*& ("--&

&95

70*$&4 &%*503 "--*40/ 1&55:

&95

&95

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

&95

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

&95

1*$563& &%*503 +".&4 .$%0//06()

&95

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

&95

/&8 .&%*" &%*503 #:30/ '3"/$*4

&95

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

&95

&95

(3"1)*$4 &%*503 +".*& %3&/%&-

&95

$*3$6-"5*0/

&95

8&# "% ."/"(&3

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

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

&95

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

&95

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

&95

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

7Ġ Ě Ĕ Ė Ĥ %" * -: & ( : 1 5 * " /

&#+.; ');26+#0 '&+614+#. $1#4& ,GHH 'PIGNJCTFV ' &+614 +0 % *+'(

#NNKUQP 2GVV[ 8 1+%'5 ' &+614

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

)GPPC 1TF 0 '95411/ 4 '24'5'06#6+8'

5GCP /E)CJCP 5 21465 ' &+614

.WMG /E%QTOKEM 2 7.5' ' &+614

&KCPC 5QNKYQP % +6; ' &+614

-CVGN[P 2HGKUVGT 0 '95411/ 4 '24'5'06#6+8'

,7.;

413*/('*&-% '30.

$FMFCSBUF B MJUUMF CVU OPX DPNFT UIF SFBMMZ JDLZ QBSU #"350/ -03*.03 CBSUPO MPSJNPS ! TJVEF DPN

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

HPWFSOPS DBOOPU BHSFF PO IPX UP QBTT B CVEHFU /FXT PG UIF DBQJUBM QMBO T QBTTBHF JT B TJHI PG SFMJFG FWFO JG POMZ GPS B NPNFOU #F IBQQZ GPS %BWJE /FX.FZFS BOE +BDL (SFFS XIP IBWF CFFO XBJUJOH ZFBS BGUFS ZFBS GPS NPOFZ UP DPOTUSVDU UIF NJMMJPO 5SBOTQPSUBUJPO &EVDBUJPO $FOUFS 5IBOL 3FQ .JLF #PTU BOE 4FO %BWF -VFDIUFGFME GPS WPUJOH JO GBWPS PG UIF DBQJUBM QMBO 4BWF B IBOETIBLF GPS 4*6 1SFTJEFOU (MFOO 1PTIBSE BOE %BWF (SPTT 4*6 T HPWFSONFOU MJBJTPO GPS NBLJOH TVSF UIF VOJWFSTJUZ T QSPKFDUT XFSF OPU FYDMVEFE GSPN UIF MJTU

/

PU UP NFOUJPO UIFTF QSPKFDUT NFBO UIFSF XJMM CF NPSF TUBUF GBDJMJUJFT SFRVJSJOH NBJOUFOBODF JO UIF GVUVSF BOE XF BMM LOPX IPX HSFBU *MMJOPJT JT BU LFFQJOH JUT QSPQFSUJFT JO TIBQF #VU SFBMJ[F UIFTF QFPQMF BSF OPU PGG UIF IPPL ZFU 8IJMF UIF JOL ESJFT PO UIF DBQJUBM QMBO UIFTF BEWPDBUFT TIPVME CF HFBSJOH VQ UP LFFQ UIFTF QSPKFDUT PO USBDL 6OGPSUVOBUFMZ UIF DBQJUBM QMBO EJE OPU JODMVEF BO iJOGMBUPS w XIJDI XPVME NBLF UIF TUBUF MJBCMF GPS SJTJOH DPOTUSVDUJPO DPTUT 5IF

VOJWFSTJUZ MFBSOFE UIF IBSE XBZ UISPVHI UIF .PSSJT -JCSBSZ SFOPWBUJPO QSPKFDU UIBU TUBUF EPMMBST SFDFJWFE GPS B DPOTUSVDUJPO QSPKFDU NJHIU OPU CF FOPVHI UP GJOJTI UIF KPC "OE HPJOH CBDL UP UIF UBCMF GPS NPSF NPOFZ VTVBMMZ DPNFT XJUI B NVMUJ ZFBS XBJUJOH QFSJPE /PU UP NFOUJPO UIFTF QSPKFDUT NFBO UIFSF XJMM CF NPSF TUBUF GBDJMJUJFT SFRVJSJOH NBJOUFOBODF JO UIF GVUVSF BOE XF BMM LOPX IPX HSFBU *MMJOPJT JT BU LFFQJOH JUT QSPQFSUJFT JO TIBQF 5IF DBQJUBM QMBO T QBTTBHF BMTP NBLFT B GVMMZ GVOEFE PQFSBUJPOT CVEHFU FWFO NPSF JNQPSUBOU #FDBVTF UIF TUBUF JT SFMZJOH PO HBNCMJOH UP GJOBODF UIFTF QSPKFDUT MBXNBLFST TIPVME GFFM SFTQPOTJCMF GPS NBLJOH TVSF UIF BQQSPQSJBUF HBNCMJOH BEEJDUJPO TFSWJDFT BSF JO QMBDF BOE DBO TFSWJDF UIPTF XIP OFFE UIFN 5IPTF QSPHSBNT BSF PO UIF CSJOL PG TFSJPVT DVUT JG OPU FMJNJOBUJPO BT MFHJTMBUPST DPOUJOVF UIFJS EFCBUF PO IPX UP EJTUSJCVUF UIF TUBUF T TISJOLJOH HFOFSBM GVOE #Z QBTTJOH B DBQJUBM QMBO UIBU SFMJFT PO FYQBOEFE HBNCMJOH MBXNBLFST TIPXFE FWFSZPOF UIFZ IBWF UIF BCJMJUZ UP QVU DPOUSPWFSTJBM MFHJTMBUJPO PO UIF HPWFSOPS T EFTL 5IFZ TIPVME VTF UIBU BCJMJUZ PO UIF CVEHFU FWFO JG JU NFBOT TFUUJOH BTJEF UIFJS iGJSN CFMJFGTw PO SBJTJOH UBYFT -FHJTMBUPST UIBOLT GPS UIF DBQJUBM QMBO /PX HFU CBDL UP XPSL -PSJNPS JT B KVOJPS TUVEZJOH KPVSOBMJTN BOE QPMJUJDBM TDJFODF

3716' 1( 6*' &#;

² PQY YG CTG RTKUQPGTU 9G YGTG NKDGTCVGF

³

CICKP

4 5IFWFOUISBO XIP JT BNPOH UIPVTBOET PG QFPQMF CFJOH IFME JO SFGVHFF DBNQT BT 4SJ -BOLB USJFT UP DPOUBJO 5BNJM 5JHFS SFCFMT

.JTTJPO 4UBUFNFOU

6JG &#+.; ');26+#0 VJG UVWFGPV TWP PGYURCRGT QH 5QWVJGTP +NNKPQKU 7PKXGTUKV[ %CTDQPFCNG KU EQOOKVVGF VQ DGKPI C VTWUVGF UQWTEG QH PGYU KPHQTOCVKQP EQOOGPVCT[ CPF RWDNKE FKUEQWTUG YJKNG JGNRKPI TGCFGTU WPFGTUVCPF VJG KUUWGU CHHGEVKPI VJGKT NKXGU

"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

5)& %6,& 3&1035

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

'SPN UIFJS UBY GSBVE UP UIFJS DSJNJOBM CSFBL JO PG HPWFSONFOU CVJMEJOHT UP FYUSFNF JOUJNJEBUJPO BOE IBSBTTNFOU PG GBNJMZ NFNCFST HPWFSONFOUT BOE KPVSOBMJTUT UIFZ IBWF DVU UIFNTFMWFT B IVHF TMJDF "/%3&8 0 $0//03 PG UIF QJF XIJDI UIFZ PQFSBUF GSPN B DBSUPPOJTIMZ BOESFXPD! TJV FEV FWJM DSVJTF TIJQ DPNNBOE DFOUFS MPPL JU VQ BOE UIF IPNF CBTF JO 'MPSJEB XIFSF FMTF

8IFO )VCCBSE EJFE UIFSF XBT B QPXFS 5PEBZ T UPQJD JT 4DJFOUPMPHZ BOE UIF OFYU WBDVVN UIBU XBT DSFBUFE JO DIVSDI MFBEFSTIJQ BOE .JTDBWJHF GJMMFE UIBU WBDVVN 5IF IFBE XPSET XJMM HVBSBOUFF UIBU * XPO U HFU XPSL PG UIF DIVSDI SFQPSUFEMZ CFBU IVNJMJBUFE JO )PMMZXPPE 5IF $IVSDI PG 4DJFOUPMPHZ JT TPNFUIJOH NBOZ BOE BCVTFE PUIFS IJHI SBOLJOH NFNCFST PG QFPQMF IBWF IFBSE BCPVU CVU GFX LOPX NVDI UIF DIVSDI JO PSEFS UP NBJOUBJO B EJDUBUPSJBM DPOUSPM 6OEFS IJT MFBEFSTIJQ UIF DIVSDI IBT BCPVU JU "MMPX NF UP TFU UIF SFDPSE TUSBJHIU 4DJFOUPMPHZ JT B EBOHFSPVT DVMU GPVOEFE CZ B UBY DPOEVDUFE OVNFSPVT iCMBDLw DBNQBJHOT XIJDI DIFBU # MJTU TDJFODF GJDUJPO XSJUFS UIBU DPOUJOVFT PGUFO VTF MFTT UIBO MFHBM UBDUJDT UP IBSBTT BOE UP VTF JUT WBTU XFBMUI BOE MBOE PXOFSTIJQ UP JOUJNJEBUF BOZPOF EFGJOFE BT BO i&OFNZ PG IBSBTT UIF DSJUJDT XIP EBSF DSJUJDJ[F JU 4DJFOUPMPHZw MJLF ZPVST USVMZ

4DJFOUPMPHZ JT TUSVDUVSFE JO B IJFSBSDIBM 5IFSF JT B QMFUIPSB PG DSFEJCMF JOGPSNBUJPO QZSBNJE XIFSF UIF NPSF iBVEJUJOHw FTTJPOT B BWBJMBCMF PVU UIFSF PO UIF EBOHFST BOE FWJMT QFSTPO HPFT UISPVHI UIF NPSF PG UIF GPVOEFS T PG UIF $IVSDI PG 4DJFOUPMPHZ XPSUI SFBEJOH IFSF JT B QMFUIPSB PG CVU UIF SFBM QPJOU JT UIJT 4DJFOUPMPHJTUT BSFO U - 3PO )VCCBSE iUSVUIw UIFZ BSF FYQPTFE UP DSFEJCMF JOGPSNBUJPO 0G DPVSTF UIBOLT UP UIF *OUFSOFU UIF BMMPXFE UP SFBE UIJT .FNCFST BSF DPOEJUJPOFE BWBJMBCMF PVU UIFSF PO UIF UP JHOPSF BOZUIJOH PVU UIFSF UIBU JT DSJUJDBM PG IJHIFTU MFWFM iTDJFODFw )VCCBSE FWFS ESPQQFE UIF DIVSDI "OZ NFNCFS PG UIF DIVSDI SFBEJOH PO IVNBOJUZ IBT CFFO QVCMJTIFE GPS NPSF UIBO EBOHFST BOE FWJMT PG UIF UIJT TIPVME LOPX * MPWF ZPV BOE TP EPFT +FTVT B EFDBEF "OE IFSF JT UIF CBTJD HJTU GBNJMJBS UP $IVSDI PG 4DJFOUPMPHZ XPSUI UIPTF XIP IBWF TFFO UIF 4PVUI 1BSL FQJTPEF

FTQFDJBMMZ XIFO ZPV RVFTUJPO ZPVS MFBEFST SFBEJOH CVU UIF SFBM QPJOU "IFN NJMMJPO ZFBST BHP FWJM TQBDF FNQFSPS 4P QMFBTF JG ZPV IBWF GBNJMZ NFNCFST JO UIF 9FOV DBQUVSFE B CVODI PG BMJFOT QVU UIFN BMM JO DIVSDI FTQFDJBMMZ JG UIFZ KVTU TUBSUFE SFBE VQ PO JT UIJT 4DJFOUPMPHJTUT BSFO U TQBDF QMBOFT BOE CMFX UIFN VQ XJUI IZESPHFO 4DJFOUPMPHZ BOE USZ BOE QFSTVBEF UIFN UP BT XFMM BMMPXFE UP SFBE UIJT CPNCT JO WPMDBOPFT PO &BSUI 5IF TPVMT PG UIFTF "OE JG ZPV BSF BQQSPBDIFE CZ 4DJFOUPMPHJTUT PS JUT DPWFS %JBOFUJDT BOE #VTJOFTT .BOBHFNFOU EFBE TQBDF BMJFOT UIFO USJFE UP GMPBU CBDL PVU JOUP TQBDF POMZ UP CF USBQQFE PO &BSUI CZ 9FOV T )VCCBSE GPVOEFE 4DJFOUPMPHZ B MJUUMF NPSF 5FDIOPMPHZ SVO EPO U XBML UPXBSE UIF OFBSFTU P[POF MBZFS FTRVF BMJFO TPVM TUPQQFS 5IF TPVMT UIBO ZFBST BHP 4JODF UIFO UIF FNQJSF IBT FTDBQF IBUDI 5IFO UIF NJMMJPO ZFBS XBS GPS SPBNFE UIF &BSUI GPS B NJMMFOOJVN VOUJM UIFZ HSPXO JOUP B XPSMEXJEF GPSDF XJUI NJMMJPOT PG UIF &BSUI XJMM CF XPO 1SBJTF 9FOV GPVOE TPNFUIJOH UP XIJDI UIFZ DPVME BUUBDI NFNCFST IVHF BNPVOUT PG XFBMUI BOE QPXFS UIFNTFMWFT JO NBO 5IFTF QBSBTJUJD BMJFO TPVMT BOE B XIPMF CVODI DFMFCSJUZ DPOWFSUT )PX EP 0 $POOPS JT B KVOJPS TUVEZJOH DBMMFE 5IFUBOT BSF UIF SFBTPO GPS PVS EFQSFTTJPO ZPV HFU BMM UIBU JO TVDI B TNBMM BNPVOU PG UJNF QPMJUJDBM TDJFODF BOE QIJMPTPQIZ BOE CBE UFMFWJTJPO UPEBZ :PV MJF DIFBU BOE TUFBM FWFSZ DIBODF ZPV HFU

5

/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

5VFTEBZ +VMZ

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

1VMTF

A#SVOP IBT CJUF

#VU UIF POMZ DPOTJTUFOU UIJOH UISPVHIPVU XJUI IJT DIBSBDUFS BQQSPBDIJOH TFY XJUI BOPUIFS UIF GJMN JT JUT BUUFOUJPO UP TIPDL WBMVF PGGFOE NBMF 5IF SFTQPOTF GSPN UIPTF JO BUUFOEBODF JT JOH QFPQMF CBTFE PO TFYVBMJUZ SBDF BOE SFMJHJPO MFTT UIBO GBWPSBCMF BT CFFS BOE DIBJST BSF UISPXO i#SVOPw i#SVOPw XBOUT UP QVTI FWFSZPOF T CVUUPOT JOUP UIF DBHF 5IF BOHFS BOE IBUSFE PG NBOZ PG 3BUFE 3 5IF GJMN BJNMFTTMZ NFBOEFST GSPN TDFOBSJP UP UIF QFPQMF BQQFBST UP CF SFBM CVU i#SVOPw OFWFS 4UBSSJOH 4BDIB #BSPO $PIFO (VTUBG TDFOBSJP XJUI BO JODSFEJCMZ MPPTF QMPU UIBU BMMPXT GPDVTFT PO FTUBCMJTIJOH BOZ NPSBM IJHI HSPVOE )BNNBSTUFO GPS 4BDIB #BSPO $PIFO UP USBWFM UIF XPSME BOE 5IF GJMN PDDBTJPOBMMZ BMMPXT GPS UIF TVCKFDUT %JSFDUFE CZ -BSSZ $IBSMFT BOHFS BT NBOZ QFPQMF BT QPTTJCMF UP TIPX UIFJS GMBXT 5PP PGUFO $PIFO TNPUIFST 3VOUJNF NJO )F WJTJUT UIF TPVUIFSO TUBUFT UIF .JEEMF UIFTF NPNFOUT XJUI IJT DIBSBDUFS T FDDFOUSJDJUJFT 3BUJOH $ &BTU BOE -PT "OHFMFT VTJOH EJGGFSFOU NFUIPET 5IF GJMN JT MFTT BCPVU FYQPTJOH XSPOHT PG TPDJFUZ UP FMJDJU SFTQPOTFT GSPN IJT TVC BOE QSPNPUJOH BDDFQ i#SVOPw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i%B "MJ ( 4IPX w #SVOP UIF NBMF BOBUPNZ TQJOOJOH

$ ISJT .D(SFHPS %"*-: &(:15*"/ $)3*4.!4*6 &%6

¶¶5

XBT UIF XFBLFTU DIBSBDUFS JO UIF 57 TFSJFT BOE $PIFO VTFE UIF TVDDFTT PG i#PSBUw UP GPSDF B TJNJMBS GJMN XJUI B XFBLFS DFOUSBM DIBSBDUFS i#PSBUw XBT IFME UPHFUIFS EFTQJUF B XFBL QMPU BOE XPSLFE XFMM CFDBVTF $PIFO XBT BCMF UP TUSJLF B CBMBODF CFUXFFO IJT DIBS BDUFS T BCTVSEJUJFT BOE UIF TVQQPSUJOH DIBS BDUFST BCJMJUZ UP TIBSF UIF GJMN *O i#SVOP w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i#SVOPw IJUT BOE NJTTFT GSPN TDFOF UP TDFOF BOE TIPXT ZPV XIZ $PIFO JT CFMPWFE BOE IBUFE GPS FRVBM SFBTPOT

$MBTTJGJFET

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

5VFTEBZ +VMZ

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

5VFTEBZ +VMZ

5IF %VQMFY

456%:

#3&", 5IVSTEBZ T BOTXFST

"DSPTT i/PX XF SF JO GPS JU w 8IPQQFS PG B NFBM 5BUUPPJTU T TVSGBDF 'BO NBH %FWFMPQJOH FHH 3FWFSTF JO XPSE QSP DFTTJOH 8PSTIJQFE DBSWJOH (BWF GBMTF IPQF UP 5SBDL FWFOU $ISJTUNBT TFSWJDF 8JUI i" w 5FE %BOTPO GJMN "U FBTF XJUI 8FC GPSVN VTFS T TFMG JNBHF 3FE HJBOU PS XIJUF EXBSG 1SJDF JOEJDBUPST %PXO 6OEFS HFN 3FQMJFT UP BO JOWJUF

$BMJGPSOJB T 4BOUB @@ 3JWFS 5IF 3FCFMT PG UIF 4PVUIFBTUFSO $POGFSFODF GBNJMJBSMZ #FGPSF UP CBSET 5POHVF PG 5JCFSJVT 5PUBMMZ BCTPSCFE 4PGU DIFFTF &OUSÏF MJTU #SPVHIU B TNJMF UP .PSF T QFSGFDU QMBDF 8BJGJTI TVQFSNPEFM GSPN #SJUBJO &BTZ UP VTF JO BETQFBL 4MBOUFE UZQF "CCS $MBJN BT POF T PXO $BSSZ PVU )BSCPS QVTIFST

4UVEZ #SFBL

1PQVMBS UBUUPP TJUF $SBWJOH #MBEF XJUI B HVBSEFE UJQ 4QBOJTI TPWFSFJHOT $PSOFU OPUF %PXO 4JY %BZ 8BS XFBQPO 4UBTIFE BXBZ #FBUMF TQPVTF :PLP #BUUFST QSPUFDUJPO 1PQQZDPDL 5XP GPVS TJY FUD (FSNBO XIFFMT 5SVEHF BT UISPVHI NVE 0QQPTJUF PG i"U FBTF w 7BDBUJPO UJNFT 8PSL PO TPSF NVTDMFT i5IBU JT w JO "DSPTT i8SPOH w

i@@ CBE CPZ w -PV $PTUFMMP DBUDIQISBTF 1FUFS UIF (SFBU FU BM -JLF TPNF NJTUBLFT 5IF GJSTU .ST 5SVNQ 1FTUFS QFSTJTUFOUMZ -PTF USBDUJPO )PNF UP NBOZ MMBNBT %PDT PSH -FGU IBOE QBHF *T B /PTZ 1BSLFS 4QSPVUT UP CF i@@ UIF MPOFMJFTU OVNCFSw A T TPOH MZSJD -BX CPPL DPOUFOUT 4VEEFO VSHF 4BEEFOT TMBOHJMZ %BZUPOB PSH &OFSP PS NBZP $PNF UPHFUIFS 'JHVSF BT B TVN /P MPOHFS B NJOPS 8JME BOE DSB[Z .PSF UIBO FOPVHI ;JMDI A)PPE CVEEZ 8PSE CFGPSF CPPTUFS PS USJQQFS i*T JU TPVQ @@ w

#Z -JOEB $ #MBDL 7JSHP "VH 4FQU 5PEBZ JT B ,FFQ TUBTIJOH QFOOJFT *G ZPV QBZ DBTI ZPV DBO PGUFO TBWF FOPSNPVT TVNT $SFEJU DBSET BSF KVTU UPP FYQFOTJWF

5PEBZ T #JSUIEBZ *U NBZ TFFN BT JG TPNFCPEZ T QPVOEJOH PO ZPV UIJT ZFBS EFNBOEJOH QFSGFDUJPO -VDLJMZ ZPV SF VQ UP UIF DIBMMFOHF 5IBU T XIZ ZPV QVU ZPVSTFMG JO UIJT QSPHSBN SFNFNCFS 5IF QSFTTVSF JT CSJOHJOH PVU ZPVS OBUVSBM DSFBUJWJUZ :PV SF HFUUJOH TUSPOHFS 5P HFU UIF BEWBOUBHF DIFDL UIF EBZ T SBUJOH JT UIF FBTJFTU EBZ UIF NPTU DIBMMFOHJOH

-JCSB 4FQU 0DU 5PEBZ JT B :PV SF TUJMM VOEFS DPOTUSBJOUT CVU ZPV DBO GJOE B XBZ BSPVOE UIFN 4PNFUJNFT JU UBLFT B XIJMF #F QBUJFOU

"SJFT .BSDI "QSJM 5PEBZ JT B 8PSLJOH PO BO FMVTJWF BOTXFS UP B DPNQMJDBUFE RVFTUJPO %PO U HJWF VQ *U MPPLT MJLF ZPV MM GJOE JU QSFUUZ TPPO

4DPSQJP 0DU /PW 5PEBZ JT B 0UIFST BENJSF ZPVS JOEVTUSJPVTOFTT :PV IJU B KPC XJUI GJFSDF EFUFSNJOBUJPO :PV DSFBUF XFBMUI XJUI JNBHJOBUJPO

5BVSVT "QSJM .BZ 5PEBZ JT B 5IF KPC T OPU RVJUF EPOF ZFU CVU UIF FOE JT OFBS -PPLT MJLF JU UVSOT PVU XFMM ,FFQ IVTUMJOH 4PNFCPEZ T XBJUJOH

4BHJUUBSJVT /PW %FD 5PEBZ JT B 'JOE B EFBM PO TPNFUIJOH ZPV EPO U XBOU BOE TFMM JU 5IFO GJOE B EFBM PO TPNFUIJOH ZPV EP XBOU BOE QBZ DBTI

(FNJOJ .BZ +VOF 5PEBZ JT B 5BLF DBSF XIFO TIPQQJOH /PU FWFSZUIJOH UPVUFE BT B GBCVMPVT PGGFS SFBMMZ JT 3FBE CFGPSF ZPV TJHO PO UIF EPUUFE MJOF

$BQSJDPSO %FD +BO 5PEBZ JT B *G ZPV SF UPP CVTZ HFU TPNFPOF FMTF UP DPWFS UIF QIPOFT 4PNFPOF OFBSCZ XPVME CF HMBE UP IFMQ

$BODFS +VOF +VMZ 5PEBZ JT B *G ZPV SF OJDF ZPV DPVME HFU B CPOVT "DUVBMMZ JU T B CPOVT GPS CFJOH OJDF *U NBZ DPNF EJTHVJTFE BT B TNBMM HJGU

"RVBSJVT +BO 'FC 5PEBZ JT B :PV DBO CBSFMZ ESBH ZPVSTFMG BXBZ GSPN UIF CPPLT BOE DPNQVUFS MPOH FOPVHI UP FBU %PO U GPSHFU UP EP UIBU

-FP +VMZ "VH 5PEBZ JT BO /FX JOGP IFMQT ZPV BDIJFWF B HPBM :PV XFSFO U TUVQJE ZPV XFSF VOEFS JOGPSNFE :PV MM GJOE UIJT UISPVHI UIF HSBQFWJOF

1JTDFT 'FC .BSDI 5PEBZ JT B 5BMLJOH JT POF XBZ UP FYQSFTT ZPVS MPWF -JTUFO UPP :PV SF HPPE BU UIBU BOE ZPV MM MFBSO TPNFUIJOH JOUFSFTUJOH

+5

$/

35

-2#1!,"+% 3(%2% &.41 4,"+%2 .-% +%33%1 3. %!#( 204!1% 3. &.1, &.41 .1$)-!17 6.1$2

; 1)"4-% %$)! %15)#%2 -# ++ )'(32 %2%15%$

5IVSTEBZ T BOTXFST

666 *4,"+% #., $2

&RPSOHWH WKH JULG VR HDFK URZ FROXPQ DQG E\ ER[ LQ EROG ERDUGHUV FRQWDLQV HYHU\ GLJLW WR )RU VWUDWH JLHV RQ KRZ WR VROYH 6XGRNX YLVLW ZZZ VXGRNX RUJ XN

5IVSTEBZ T BOTXFST

.6 !11!-'% 3(% #)1#+%$ +%33%12 3. &.1, 3(% 241/1)2% !-26%1 !2 24''%23%$ "7 3(% !".5% #!13..-

-26%12 3.,.11.6

4,"+%2

-26%1 (!3 3(% ,42%4, 5)2)3.12 #.-2)$%1%$ 3(% &!,.42 2#4+/341%2 : 8 9

4QPSUT

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

5VFTEBZ +VMZ

4Ä¡Ä Ä£Ä¥Ä¤ %" * -: & ( : 1 5 * " /

*/4*%&3 TJV%& DPN 8IP IBT UIF "MM 4UBS HBNF BEWBOUBHF

56&4%":

+6-:

.&/ 4 #"4,&5#"--

-PXFSZ IFMQT 6 4 UFBN UP HPME

4*6 T IFBE DPBDI BJET VOEFS UFBN JO GJSTU DIBNQJPOTIJQ TJODF

4*6 CBTLFUCBMM DPBDI $ISJT -PXFSZ FNCSBDFT GSFTINBO HVBSE ,FWJO %JMMBSE EVSJOH 4*6 T #SBDLFU#VTUFS NBUDIVQ XJUI *MMJOPJT $IJDBHP 'FC -PXFSZ BTTJTUBOU DPBDI PG UIF 6OJUFE 4UBUFT VOEFS UFBN IFMQFE UIF ZPVOH TRVBE UP JUT GJSTU HPME NFEBM JO ZFBST EVSJOH UIF XFFLFOE '*-& 1)050 % "*-: & (:15*"/

.BUU 'SFFMBOE %"*-: &(:15*"/ ."55 !4*6 &%6

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iIBE B CMBTUw DPBDI JOH XJUI %JYPO BOE GPSNFS 4*6

DPBDI BOE DVSSFOU 1VSEVF DPBDI .BUU 1BJOUFS )F BMTP UBMLFE BCPVU UIF BUNPTQIFSF UISPVHIPVU UIF UPVSOBNFOU JO "VDLMBOE /FX ;FBMBOE )F DPNQBSFE B TFNJ GJOBM NBUDIVQ BHBJOTU $SPBUJB UP BO /$"" HBNF GVMM XJUI IPSOT XIJTUMFT BOE ESVNT ,BOTBT +BZIBXL 5ZTIBXO 5BZMPS MFE UIF 6 4 UFBN XJUI QPJOUT JO JUT DIBNQJPOTIJQ WJD UPSZ PWFS (SFFDF 5BZMPS BMPOH XJUI UFBNNBUF (PSEPO )BZXBSE PG #VUMFS XBT TFMFDUFE UP UIF "MM 4UBS 'JWF PG UIF DPNQFUJUJPO -PXFSZ IBT TBJE IF XPVME IBWF FOKPZFE DPBDIJOH IJT 4*6 QMBZFST JO UIF UPVSOBNFOU CVU NPTU XFSF OPU ZPVOH FOPVHI UP RVBMJGZ GPS UIF VOEFS UFBN "MUIPVHI OP 4BMVLJ QMBZFST HPU JOUFSOBUJPOBM FYQPTVSF JO UIF

8JUI USBDL BOE GJFME DPBDI UPVSOBNFOU UIF VOJWFSTJUZ XBT GPSUVOBUF UP IBWF -PXFSZ PWFS $POOJF 1SJDF 4NJUI BMTP SFQ TFBT TBJE 3JDL 8BMLFS TXJN SFTFOUJOH UIF DPVOUSZ JO UIF NJOH BOE EJWJOH DPBDI 0MZNQJDT 8BMLFS TBJE UIF VOJ WFSTJUZ JT GPSUVOBUF UP IBWF TP NBOZ XPSME DPNQFUJUPST i'PS $POOJF 1SJDF 4NJUI

PS $POOJF 1SJDF $ISJT BOE NZTFMG UIFSF JT OP 4NJUI $ISJT BOE HSFBUFS IPOPS UIBO UP SFQSFTFOU ZPVS DPVOUSZ w IF TBJE NZTFMG UIFSF JT OP *O TFWFO PG UIF QBTU OJOF '*#" HSFBUFS IPOPS UIBO UP 6OEFS 8PSME $IBNQJPOTIJQ SFQSFTFOU ZPVS DPVOUSZ FWFOUT UIF 6 4 UFBN IBT DPNF ‰ 3JDL 8BMLFS BXBZ XJUI TPNF GPSN PG NFEBM TXJNNJOH BOE EJWJOH DPBDI XJUI UIF UXP CFTU DBNQBJHOT FOEJOH XJUI TJMWFS NFEBMT JO 8BMLFS JT GBNJMJBS XJUI JOUFS BOE JO #VU UIF MBDL PG HPME TJODF OBUJPOBM FWFOUT )F TFSWFE BT UIF 6 4 T 0QFO 8BUFS /BUJPOBM XBT B NBKPS UBMLJOH QPJOU 5FBN DPBDI GPS ZFBST OFU GPS UIF UFBN %JYPO TBJE JO B UJOH POF DIBNQJPOTIJQ JO QSFTT SFMFBTF BOE UXP GPVSUI QMBDF GJOJTIFT JO i8F VTFE UIBU BT NPUJWBUJPO UISPVHIPVU UIF NPOUI XF WF CFFO BOE

¶¶'

UPHFUIFS w %JYPO TBJE i8F IBE HSFBU LJET UIBU XPSLFE BMM UIF XBZ UISPVHI BOE DPNNJUUFE UP HFUUJOH UIF HPME NFEBM BOE HBWF VQ‰TBDSJGJDFE‰JOEJWJEVBM HMPSZ w -PXFSZ XBT PO IJT XBZ IPNF GSPN UIF UPVSOBNFOU .POEBZ BOE EJE OPU SFUVSO DBMMT GPS DPN NFOU )JT 5XJUUFS QBHF TBJE IJT QIPOF XBT TUPMFO PO UIF USJQ "T -PXFSZ IFBET CBDL 8BMLFS USBWFMFE UP 3PNF .POEBZ QSF QBSJOH UP DPBDI UIF GSFF TXJN NFST PO 6 4 T '*/" 8PSME $IBNQJPOTIJQ UFBN )F LOPXT XIBU UIFTF FWFOUT DBO EP GPS B DPBDI i*U QVUT NF JO GSPOU PG BMM PG UIF CFTU TXJNNFST JO UIF XPSME w 8BMLFS TBJE i4PVUIFSO *MMJOPJT 6OJWFSTJUZ BOE NZ OBNF HFUT QVU PVU BOE JO GSPOU PG BMM PG UIF QVCMJDBUJPOT TP JU IFMQT w