vphmx20c Manual

71 ).9 $

)JHI %FGJOJUJPO %JHJUBM $BNDPSEFS VTFS NBOVBM

JNBHJOF UIF QPTTJCJMJUJFT 5IBOL ZPV GPS QVSDIBTJOH UIJT 4BNTVOH QSPEVDU 5P SFDFJWF B NPSF DPNQMFUF TFSWJDF QMFBTF SFHJTUFS ZPVS QSPEVDU BU

XXX TBNTVOH DPN HMPCBM SFHJTUFS

LFZ GFBUVSFT PG ZPVS )% DBNDPSEFS 5IF )% DBNDPSEFS JT DBQBCMF PG SFDPSEJOH BOE QMBZJOH CBDL CPUI 'VMM )% IJHI EFGJOJUJPO Y BOE 4UBOEBSE %FGJOJUJPO 4% JNBHF RVBMJUZ 4FMFDU UIF SFDPSEJOH JNBHF RVBMJUZ 'VMM )% IJHI EFGJOJUJPO PS 4% TUBOEBSE EFGJOJUJPO CFGPSF SFDPSEJOH

&/+0:*/( *."(&4 8*5) '6-- )*() %&'*/*5*0/ )% 26"-*5: :PV DBO WJFX SFDPSEFE NPWJFT XJUI 'VMM )% IJHI EFGJOJUJPO JNBHF RVBMJUZ t 5IJT )% DBNDPSEFS PGGFST J SFTPMVUJPO XJUI B TIBSQFS JNBHF UIBO QSFWJPVT 4% DBNDPSEFST J

*U BMTP TVQQPSUT XJEFTDSFFO SFDPSEJOH XJUI BO BTQFDU SBUJP PG t 3FDPSEJOHT NBEF JO 'VMM )% IJHI EFGJOJUJPO JNBHF RVBMJUZ XJMM GJU XJEFTDSFFO )%57T *G ZPVS 57 JT OPU B IJHI EFGJOJUJPO 57 NPWJFT XJUI )% IJHI EFGJOJUJPO JNBHF RVBMJUZ XJMM CF EJTQMBZFE XJUI 4% TUBOEBSE EFGJOJUJPO JNBHF RVBMJUZ 5P FOKPZ 'VMM )% RVBMJUZ JNBHFT ZPV OFFE B 57 TVQQPSUJOH Y J JOQVU 3FGFS UP ZPVS 57 VTFS NBOVBM

5P FOKPZ )% RVBMJUZ JNBHFT VTF BO )%.* PS $PNQPOFOU DBCMF 5IF NVMUJ "7 DBCMF EPFT OPU TVQQPSU )% RVBMJUZ JNBHFT TP JU EPXO DPOWFSUT UIFN UP 4% RVBMJUZ JNBHFT t 5IF JNBHF JT SFDPSEFE JO Y Q XIFO UIF RVBMJUZ JT TFU UP 4% JO UIF )% DBNDPSEFS .PWJFT SFDPSEFE BU 4% TUBOEBSE EFGJOJUJPO JNBHF RVBMJUZ DBOOPU CF DPOWFSUFE UP )% IJHI EFGJOJUJPO

'VMM )% IJHI EFGJOJUJPO JNBHF RVBMJUZ J JOUFSMBDFE

4% TUBOEBSE EFGJOJUJPO JNBHF RVBMJUZ J JOUFSMBDFE

J J J 'VMM IJHI EFGJOJUJPO DBNDPSEFS J OPSNBM EJHJUBM DBNDPSEFS *NBHF SFTPMVUJPO BCPVU UJNFT UIBU PG QSFWJPVT 4% DBNDPSEFST J

JJ@ &OHMJTI

'&"563&4 0' :063 /&8 )% $".$03%&3 .FHB QJYFM (SPTT $.04 TFOTPS w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

TVQQPSUFE

)%.* JOUFSGBDF "OZOFU TVQQPSUFE

t *G ZPV IBWF BO )%57 XJUI BO )%.* KBDL ZPV DBO FOKPZ B DMFBSFS BOE TIBSQFS JNBHF XIFO DPNQBSFE UP B TUBOEBSE EFGJOJUJPO 57 t 5IJT )% DBNDPSEFS TVQQPSUT "OZOFU

"OZOFU JT BO "7 OFUXPSL TZTUFN UIBU FOBCMFT ZPV UP DPOUSPM BMM DPOOFDUFE 4BNTVOH "7 EFWJDFT XJUI BO "OZOFU TVQQPSUFE 4BNTVOH 57 SFNPUF DPOUSPM 3FGFS UP UIF DPSSFTQPOEJOH 57 T VTFS NBOVBM GPS NPSF EFUBJMT w XJEF UPVDI QBOFM -$% TDSFFO , QJYFMT

5IF w XJEF -$% TDSFFO QSPWJEFT FYDFMMFOU WJFXJOH DMBSJUZ XJUI JNQSPWFE SFTPMVUJPO 5IF , QJYFM -$% TDSFFO SPUBUFT VQ UP EFHSFFT GPS NVMUJQMF WJFXJOH BOHMFT QSPWJEJOH TIBSQ EFUBJMFE JNBHFT GPS NPOJUPSJOH PS QMBZCBDL BOE UIF XJEFTDSFFO GPSNBU NBLFT TIPPUJOH JO NPEF BOE DPNQPTJOH TIPUT FWFO FBTJFS 5PVDI QBOFM BEPQUFE :PV DBO QMBZ SFDPSEFE JNBHFT BOE TFU GVODUJPOT CZ TJNQMZ UBQQJOH PO UIF -$% TDSFFO 4XJWFM IBOEMF GPS GSFF TUZMF TIPPUJOH :PV DBO BEKVTU UIF TXJWFM IBOEMF T BOHMF VQ UP ยก UP TVJU UIF SFDPSEJOH TJUVBUJPO

&OHMJTI @JJJ

TBGFUZ XBSOJOHT 8IBU UIF JDPOT BOE TJHOT JO UIJT VTFS NBOVBM NFBO

8"3/*/(

$"65*0/

$"65*0/

.FBOT UIBU EFBUI PS TFSJPVT QFSTPOBM JOKVSZ JT B SJTL .FBOT UIBU UIFSF JT B QPUFOUJBM SJTL GPS QFSTPOBM JOKVSZ PS NBUFSJBM EBNBHF 5P SFEVDF UIF SJTL PG GJSF FYQMPTJPO FMFDUSJD TIPDL PS QFSTPOBM JOKVSZ XIFO VTJOH ZPVS )% DBNDPSEFS GPMMPX UIFTF CBTJD TBGFUZ QSFDBVUJPOT .FBOT IJOUT PS SFGFSFOUJBM QBHFT UIBU NBZ CF IFMQGVM XIFO PQFSBUJOH UIF )% DBNDPSEFS

5IFTF XBSOJOH TJHOT BSF IFSF UP QSFWFOU JOKVSZ UP ZPV BOE PUIFST 1MFBTF GPMMPX UIFN FYQMJDJUMZ "GUFS SFBEJOH UIJT TFDUJPO LFFQ JU JO B TBGF QMBDF GPS GVUVSF SFGFSFODF

QSFDBVUJPOT 8BSOJOH ‡ 5IJT DBNDPSEFS TIPVME BMXBZT CF DPOOFDUFE UP BO "$ PVUMFU XJUI B QSPUFDUJWF HSPVOEJOH DPOOFDUJPO ‡ #BUUFSJFT TIBMM OPU CF FYQPTFE UP FYDFTTJWF IFBU TVDI BT TVOTIJOF GJSF PS UIF MJLF $BVUJPO %BOHFS PG FYQMPTJPO JG CBUUFSZ JT JODPSSFDUMZ SFQMBDFE 3FQMBDF POMZ XJUI UIF TBNF PS FRVJWBMFOU UZQF 5P EJTDPOOFDU UIF BQQBSBUVT GSPN UIF NBJOT UIF QMVH NVTU CF QVMMFE PVU GSPN UIF NBJOT TPDLFU UIFSFGPSF UIF NBJOT QMVH TIBMM CF SFBEJMZ PQFSBCMF JW@ &OHMJTI

JNQPSUBOU JOGPSNBUJPO PO VTF #&'03& 64*/( 5)*4 $".$03%&3 t 5IJT )% DBNDPSEFS SFDPSET WJEFP JO ) .1&( QBSU "7$ GPSNBU BOE BU )JHI )% 7*%&0 BOE 4UBOEBSE SFTPMVUJPO 4% 7*%&0

t 1MFBTF OPUF UIBU UIJT )% DBNDPSEFS JT OPU DPNQBUJCMF XJUI PUIFS EJHJUBM WJEFP GPSNBUT t #FGPSF SFDPSEJOH JNQPSUBOU WJEFP NBLF B USJBM SFDPSEJOH 1MBZ CBDL ZPVS USJBM SFDPSEJOH UP NBLF TVSF UIF WJEFP BOE BVEJP IBWF CFFO SFDPSEFE QSPQFSMZ t 5IF SFDPSEFE DPOUFOUT DBOOPU CF DPNQFOTBUFE GPS 4BNTVOH DBOOPU DPNQFOTBUF GPS BOZ EBNBHF DBVTFE XIFO B SFDPSEJOH DBOOPU CF QMBZFE CBDL CFDBVTF PG B EFGFDU JO UIF )% DBNDPSEFS PS NFNPSZ DBSE 4BNTVOH DBOOPU CF SFTQPOTJCMF GPS ZPVS SFDPSEFE WJEFP BOE BVEJP 3FDPSEFE DPOUFOUT NBZ CF MPTU EVF UP B NJTUBLF XIFO IBOEMJOH UIJT )% DBNDPSEFS PS NFNPSZ DBSE FUD 4BNTVOH TIBMM OPU CF SFTQPOTJCMF GPS DPNQFOTBUJPO GPS EBNBHFT EVF UP UIF MPTT PG SFDPSEFE DPOUFOUT t .BLF B CBDLVQ PG JNQPSUBOU SFDPSEFE EBUB 1SPUFDU ZPVS JNQPSUBOU SFDPSEFE EBUB CZ DPQZJOH UIF GJMFT UP B 1$ *U JT BMTP SFDPNNFOEFE UP DPQZ JU GSPN ZPVS 1$ UP PUIFS SFDPSEJOH NFEJB GPS TUPSBHF 3FGFS UP UIF TPGUXBSF JOTUBMMBUJPO BOE 64# DPOOFDUJPO HVJEF t $PQZSJHIU 1MFBTF OPUF UIBU UIJT )% DBNDPSEFS JT JOUFOEFE GPS JOEJWJEVBM VTF POMZ %BUB SFDPSEFE PO UIF TUPSBHF NFEJB JO UIJT )% DBNDPSEFS VTJOH PUIFS EJHJUBM BOBMPHVF NFEJB PS EFWJDFT JT QSPUFDUFE CZ UIF DPQZSJHIU BDU BOE DBOOPU CF VTFE XJUIPVU QFSNJTTJPO PG UIF PXOFS PG DPQZSJHIU FYDFQU GPS QFSTPOBM FOKPZNFOU &WFO JG ZPV SFDPSE BO FWFOU TVDI BT B TIPX QFSGPSNBODF PS FYIJCJUJPO GPS QFSTPOBM FOKPZNFOU JU JT TUSPOHMZ SFDPNNFOEFE UIBU ZPV PCUBJO QFSNJTTJPO CFGPSFIBOE

&OHMJTI @W

JNQPSUBOU JOGPSNBUJPO PO VTF "#065 5)*4 64&3 ."/6"t 5IF EJTQMBZT JO UIJT VTFS NBOVBM NBZ OPU CF FYBDUMZ UIF TBNF BT UIPTF ZPV TFF PO UIF -$% TDSFFO t %FTJHOT BOE TQFDJGJDBUJPOT PG UIF DBNDPSEFS BOE PUIFS BDDFTTPSJFT BSF TVCKFDU UP DIBOHF XJUIPVU BOZ OPUJDF

/05&4 3&("3%*/( 53"%&."3,4 t "MM UIF USBEF OBNFT BOE SFHJTUFSFE USBEFNBSLT NFOUJPOFE JO UIJT NBOVBM PS PUIFS EPDVNFOUBUJPO QSPWJEFE XJUI ZPVS 4BNTVOH QSPEVDU BSF USBEFNBSLT PS SFHJTUFSFE USBEFNBSLT PG UIFJS SFTQFDUJWF IPMEFST t 8JOEPXTÂ¥ JT SFHJTUFSFE USBEFNBSL PS USBEFNBSL PG .JDSPTPGU $PSQPSBUJPO SFHJTUFSFE JO UIF 6OJUFE 4UBUFT BOE PUIFS DPVOUSJFT t .BDJOUPTI JT USBEFNBSL PG "QQMF $PNQVUFS *OD t "MM UIF PUIFS QSPEVDU OBNFT NFOUJPOFE IFSF JO NBZ CF UIF USBEFNBSL PS SFHJTUFSFE USBEFNBSLT PG UIFJS SFTQFDU DPNQBOJFT t 'VSUIFSNPSF i5.w BOE i3w BSF OPU NFOUJPOFE JO FBDI DBTF JO UIJT NBOVBM

WJ@ &OHMJTI

QSFDBVUJPOT XIFO VTJOH *.1035"/5 /05& t )BOEMF UIF MJRVJE DSZTUBM EJTQMBZ -$% XJUI DBSF 5IF -$% JT B WFSZ EFMJDBUF EJTQMBZ EFWJDF %P OPU QSFTT JUT TVSGBDF XJUI GPSDF IJU JU PS QSJDL JU XJUI B TIBSQ PCKFDU *G ZPV QVTI UIF -$% TVSGBDF VOFWFOOFTT JO EJTQMBZ NBZ PDDVS *G VOFWFOOFTT EPFT OPU EJTBQQFBS UVSO UIF DBNDPSEFS PGG XBJU GPS B GFX NPNFOUT BOE UIFO UVSO JU PO BHBJO %P OPU QMBDF UIF DBNDPSEFS XJUI UIF PQFO -$% TDSFFO EPXO $MPTF UIF -$% TDSFFO XIFO OPU VTJOH UIF DBNDPSEFS -JRVJE DSZTUBM EJTQMBZ 5IF -$% TDSFFO PG UIJT QSPEVDU VTFT IJHI QSFDJTJPO UFDIOPMPHZ "NPOH UIF UPUBM OVNCFS PG QJYFMT BQQSPY QJYFMT GPS -$% TDSFFO PS MFTT QJYFMT NBZ CF NJTTJOH CMBDL EPUT PS NBZ SFNBJO MJU BT DPMPVSFE EPUT SFE CMVF HSFFO 5IJT TIPXT UIF MJNJUBUJPOT PG UIF DVSSFOU UFDIOPMPHZ BOE EPFT OPU JOEJDBUF B GBVMU UIBU XJMM JOUFSGFSF XJUI SFDPSEJOH 5IF -$% TDSFFO XJMM CF TMJHIUMZ EJNNFS UIBO VTVBM XIFO UIF DBNDPSEFS JT BU MPX UFNQFSBUVSF BT JO DPME BSFBT PS JNNFEJBUFMZ BGUFS QPXFS JT UVSOFE PO /PSNBM CSJHIUOFTT XJMM CF SFTUPSFE XIFO UIF UFNQFSBUVSF JOTJEF UIF DBNDPSEFS SJTFT 5IJT IBT OP FGGFDU PO UIF JNBHFT JO UIF TUPSBHF NFEJB TP UIFSF JT OP DBVTF GPS DPODFSO t )PME UIF )% DBNDPSEFS DPSSFDUMZ %P OPU IPME UIF )% DBNDPSEFS CZ UIF -$% TDSFFO XIFO MJGUJOH JU UIF -$% TDSFFO DPVME EFUBDI BOE UIF )% DBNDPSEFS NBZ GBMM t %P OPU TVCKFDU UIF )% DBNDPSEFS UP JNQBDU 5IJT )% DBNDPSEFS JT B QSFDJTJPO NBDIJOF 5BLF HSFBU DBSF UIBU ZPV EP OPU TUSJLF JU BHBJOTU B IBSE PCKFDU PS MFU JU GBMM %P OPU VTF UIF )% DBNDPSEFS PO B USJQPE OPU TVQQMJFE JO B QMBDF XIFSF JU JT TVCKFDU UP TFWFSF WJCSBUJPO PS JNQBDU t /P TBOE PS EVTU 'JOF TBOE PS EVTU FOUFSJOH UIF )% DBNDPSEFS PS "$ QPXFS BEBQUPS DPVME DBVTF NBMGVODUJPOT PS EFGFDUT t /P XBUFS PS PJM 8BUFS PS PJM FOUFSJOH UIF )% DBNDPSEFS PS "$ QPXFS BEBQUPS DPVME DBVTF FMFDUSJD TIPDL NBMGVODUJPOT PS EFGFDUT t )FBU PO TVSGBDF PG QSPEVDU 5IF TVSGBDF PG UIF )% DBNDPSEFS XJMM CF TMJHIUMZ XBSN XIFO JO VTF CVU UIJT EPFT OPU JOEJDBUF B GBVMU t #F DBSFGVM PG BNCJFOU UFNQFSBUVSF 6TJOH UIF )% DBNDPSEFS JO B QMBDF XIFSF UIF UFNQFSBUVSF JT PWFS ยก$ ยก' PS VOEFS ยก$ ยก' XJMM SFTVMU JO BCOPSNBM SFDPSEJOH QMBZCBDL %P OPU MFBWF UIF )% DBNDPSEFS PO B CFBDI PS JO B DMPTFE WFIJDMF XIFSF UIF UFNQFSBUVSF JT WFSZ IJHI GPS B MPOH UJNF 5IJT DPVME DBVTF B NBMGVODUJPO &OHMJTI @WJJ

QSFDBVUJPOT XIFO VTJOH t %P OPU QPJOU EJSFDUMZ BU UIF TVO *G EJSFDU TVOMJHIU TUSJLFT UIF MFOT UIF )% DBNDPSEFS DPVME NBMGVODUJPO PS B GJSF DPVME PDDVS %P OPU MFBWF UIF )% DBNDPSEFS XJUI UIF -$% TDSFFO FYQPTFE UP EJSFDU TVOMJHIU 5IJT DPVME DBVTF B NBMGVODUJPO t %P OPU VTF UIF )% DBNDPSEFS OFBS 57 PS SBEJP 5IJT DPVME DBVTF OPJTF UP BQQFBS PO UIF 57 TDSFFO PS PO SBEJP CSPBEDBTUT t %P OPU VTF UIF )% DBNDPSEFS OFBS TUSPOH SBEJP XBWFT PS NBHOFUJTN *G UIF )% DBNDPSEFS JT VTFE OFBS TUSPOH SBEJP XBWFT PS NBHOFUJTN TVDI BT OFBS B SBEJP USBOTNJUUFS PS FMFDUSJD BQQMJBODFT OPJTF DPVME FOUFS WJEFP BOE BVEJP UIBU BSF CFJOH SFDPSEFE %VSJOH QMBZCBDL PG OPSNBMMZ SFDPSEFE WJEFP BOE BVEJP OPJTF NBZ BMTP CF QSFTFOU JO QJDUVSF BOE TPVOE t %P OPU FYQPTF UIF )% DBNDPSEFS UP TPPU PS TUFBN 5IJDL TPPU PS TUFBN DPVME EBNBHF UIF )% DBNDPSEFS DBTF PS DBVTF B NBMGVODUJPO t %P OPU VTF UIF )% DBNDPSEFS OFBS DPSSPTJWF HBT *G UIF )% DBNDPSEFS JT VTFE JO B QMBDF XIFSF UIFSF JT EFOTF FYIBVTU HBT HFOFSBUFE CZ HBTPMJOF PS EJFTFM FOHJOFT PS DPSSPTJWF HBT TVDI BT IZESPHFO TVMGJEF UIF FYUFSOBM PS JOUFSOBM UFSNJOBMT DPVME DPSSPEF EJTBCMJOH OPSNBM PQFSBUJPO PS UIF CBUUFSZ DPOOFDUJOH UFSNJOBMT DPVME DPSSPEF TP UIBU QPXFS XJMM OPU UVSO PO t %P OPU XJQF UIF )% DBNDPSEFS CPEZ XJUI CFO[FOF PS UIJOOFS 5IF FYUFSJPS DPBUJOH DPVME QFFM PGG PS UIF DBTF TVSGBDF DPVME EFUFSJPSBUF t ,FFQ UIF NFNPSZ DBSE PVU PG SFBDI PG DIJMESFO UP QSFWFOU TXBMMPXJOH &RUUHFW 'LVSRVDO RI 7KLV 3URGXFW :DVWH (OHFWULFDO (OHFWURQLF (TXLSPHQW

$SSOLFDEOH LQ WKH (XURSHDQ 8QLRQ DQG RWKHU (XURSHDQ FRXQWULHV ZLWK VHSDUDWH FROOHFWLRQ V\VWHPV

7KLV PDUNLQJ VKRZQ RQ WKH SURGXFW RU LWV OLWHUDWXUH LQGLFDWHV WKDW LW VKRXOG QRW EH GLVSRVHG ZLWK RWKHU KRXVHKROG ZDVWHV DW WKH HQG RI LWV ZRUNLQJ OLIH 7R SUHYHQW SRVVLEOH KDUP WR WKH HQYLURQPHQW RU KXPDQ KHDOWK IURP XQFRQWUROOHG ZDVWH GLVSRVDO SOHDVH VHSDUDWH WKLV IURP RWKHU W\SHV RI ZDVWHV DQG UHF\FOH LW UHVSRQVLEO\ WR SURPRWH WKH VXVWDLQDEOH UHXVH RI PDWHULDO UHVRXUFHV +RXVHKROG XVHUV VKRXOG FRQWDFW HLWKHU WKH UHWDLOHU ZKHUH WKH\ SXUFKDVHG WKLV SURGXFW RU WKHLU ORFDO JRYHUQPHQW RI¿FH IRU GHWDLOV RI ZKHUH DQG KRZ WKH\ FDQ WDNH WKLV LWHP IRU HQYLURQPHQWDOO\ VDIH UHF\FOLQJ %XVLQHVV XVHUV VKRXOG FRQWDFW WKHLU VXSSOLHU DQG FKHFN WKH WHUPV DQG FRQGLWLRQV RI WKH SXUFKDVH FRQWUDFW 7KLV SURGXFW VKRXOG QRW EH PL[HG ZLWK RWKHU FRPPHUFLDO ZDVWHV IRU GLVSRVDO

WJJJ@ &OHMJTI

DPOUFOUT */530%6$5*0/ 50 #"4*$ '&"563&4 (&55*/( 50 ,/08 :063 )% $".$03%&3

13&1"3"5*0/

#&'03& 3&$03%*/(

8IBU T JODMVEFE XJUI ZPVS )% DBNDPSEFS 'SPOU MFGU WJFX 3JHIU UPQ WJFX 3FBS CPUUPN WJFX

6TJOH UIF SFNPUF DPOUSPM *OTUBMMJOH UIF CVUUPO UZQF CBUUFSZ 6TJOH UIF DSBEMF )PMEJOH UIF )% DBNDPSEFS $IBSHJOH UIF CBUUFSZ QBDL #BTJD )% DBNDPSEFS PQFSBUJPO 4DSFFO JOEJDBUPST 6TJOH UIF EJTQMBZ L$)&$, CVUUPO 6TJOH UIF -$% TDSFFO *OJUJBM TFUUJOH 04% MBOHVBHF EBUF BOE UJNF

4FMFDUJOH UIF TUPSBHF NFEJB *OTFSUJOH FKFDUJOH B NFNPSZ DBSE 3FDPSEBCMF UJNF BOE OVNCFS PG JNBHFT 4FMFDUJOH B TVJUBCMF NFNPSZ DBSE

&OHMJTI @

DPOUFOUT 3&$03%*/(

1-":#"$,

$0//&$5*0/

@ &OHMJTI

3FDPSEJOH NPWJF JNBHFT 5BLJOH QIPUP JNBHFT 3FDPSEJOH XJUI FBTF GPS CFHJOOFST &"4: 2 NPEF

$BQUVSJOH TUJMM JNBHFT EVSJOH NPWJF JNBHF SFDPSEJOH EVBM SFDPSEJOH

$BQUVSJOH TUJMM JNBHFT EVSJOH NPWJF JNBHFT QMBZCBDL 6TJOH UIF FYUFSOBM NJDSPQIPOF ;PPNJOH 4FMG SFDPSE VTJOH UIF SFNPUF DPOUSPM 6TJOH UIF CVJMU JO GMBTI

$IBOHJOH UIF QMBZCBDL NPEF 1MBZJOH NPWJF JNBHFT 7JFXJOH QIPUP JNBHFT

$POOFDUJOH UP B 57 %VCCJOH JNBHFT PO B 7$3 PS %7% )%% SFDPSEFS

64*/( 5)& .&/6 *5&.4

&%*5*/( .07*& *."(&4

*."(& ."/"(&.&/5

13*/5*/( 1)050 *."(&4

)BOEMJOH NFOVT BOE RVJDL NFOVT .FOV JUFNT 2VJDL NFOV JUFNT 3FDPSEJOH NFOV JUFNT 1MBZCBDL NFOV JUFNT 4FUUJOH NFOV JUFNT

%FMFUJOH B TFDUJPO PG B NPWJF JNBHF %JWJEJOH B NPWJF JNBHF $PNCJOJOH UXP NPWJF JNBHFT 1MBZMJTU

1SPUFDUJPO GSPN BDDJEFOUBM FSBTVSF %FMFUJOH JNBHFT $PQZJOH JNBHFT

%10' QSJOU TFUUJOH %JSFDU QSJOUJOH XJUI B QJDUCSJEHF QSJOUFS

&OHMJTI @

DPOUFOUT $0//&$5*/( 50 " 1$

."*/5&/"/$& "%%*5*0/"- */'03."5*0/

5306#-&4)005*/( 41&$*'*$"5*0/4 8"33"/5:

@ &OHMJTI

4ZTUFN SFRVJSFNFOUT *OTUBMMJOH UIF $ZCFSMJOL %7% 4VJUF $POOFDUJOH UIF 64# DBCMF 7JFXJOH UIF DPOUFOUT PG TUPSBHF NFEJB 5SBOTGFSSJOH GJMFT GSPN UIF )% DBNDPSEFS UP ZPVS 1$

.BJOUFOBODF "EEJUJPOBM JOGPSNBUJPO 6TJOH ZPVS )% DBNDPSEFS BCSPBE

5SPVCMFTIPPUJOH

JOUSPEVDUJPO UP CBTJD GFBUVSFT 5IJT DIBQUFS JOUSPEVDFT ZPV UP UIF CBTJD GFBUVSFT PG ZPVS )% DBNDPSEFS 4FF UIF SFGFSFODF QBHFT CFMPX GPS NPSF JOGPSNBUJPO

4UFQ 1SFQBSBUJPO t $IBSHJOH UIF CBUUFSZ QBDL ¬QBHF t 4FUUJOH UIF EBUF UJNF BOE UIF 04% MBOHVBHF ¬QBHFT t 4FUUJOH UIF TUPSBHF NFEJB CVJMU JO NFNPSZ PS NFNPSZ DBSE ¬QBHF

*/4&35 #"55&3: 1"$,

4UFQ 3FDPSEJOH t 3FDPSEJOH NPWJF PS QIPUP JNBHFT ¬QBHFT

4UFQ 1MBZJOH CBDL t 4FMFDUJOH BO JNBHF UP QMBZ CBDL GSPN UIF UIVNCOBJM JOEFY WJFXT ¬QBHFT t 7JFXJOH QMBZCBDL GSPN ZPVS )% DBNDPSEFS PO ZPVS 1$ PS 57 ¬QBHFT

&OHMJTI @

HFUUJOH UP LOPX ZPVS )% DBNDPSEFS 8)"5 4 */$-6%&% 8*5) :063 )% $".$03%&3 :PVS OFX )% DBNDPSEFS DPNFT XJUI UIF GPMMPXJOH BDDFTTPSJFT *G BOZ PG UIFTF JUFNT JT NJTTJOH GSPN ZPVS CPY DBMM 4BNTVOH T $VTUPNFS $BSF $FOUSF * 5IF FYBDU BQQFBSBODF PG FBDI JUFN NBZ WBSZ CZ NPEFM

#BUUFSZ QBDL *" #1 45

"$ QPXFS BEBQUPS "" & UZQF

.VMUJ "7 DBCMF

$PNQPOFOU DBCMF

64# DBCMF

2VJDL TUBSU HVJEF

#VUUPO UZQF CBUUFSZ UZQF $3

3FNPUF DPOUSPM

$SBEMF

4PGUXBSF $%

6TFS NBOVBM $%

1PVDI

$PSF GJMUFST

)%.* DBCMF 0QUJPO

y 5IF DPOUFOUT NBZ WBSZ EFQFOEJOH PO UIF TBMFT SFHJPO y 1BSUT BOE BDDFTTPSJFT BSF BWBJMBCMF BU ZPVS MPDBM 4BNTVOH EFBMFS y 5P CVZ UIJT POF DPOUBDU ZPVS OFBSFTU 4BNTVOH EFBMFS y " NFNPSZ DBSE JT OPU JODMVEFE 4FF QBHF GPS NFNPSZ DBSET DPNQBUJCMF XJUI ZPVS )% DBNDPSEFS y :PV IBWF UP DPOOFDU UIF "$ QPXFS BEBQUPS UP UIF DSBEMF XIFO DPOOFDUJOH FYUFSOBM EFWJDFT VTJOH UIF DSBEMF @ &OHMJTI

'30/5 -&'5 7*&8

3FDPSEJOH JOEJDBUPS -FOT #VJMU JO TQFBLFS

L$)&$, CVUUPO %JTQMBZ 'MBTI CVUUPO &"4: 2 CVUUPO +BDL DPWFS

$0.10/&/5 "7 4 7JEFP KBDL 64# KBDL 5'5 -$% TDSFFO UPVDI QBOFM

3FDPSEJOH TUBSU TUPQ CVUUPO ;PPN 8 5 CVUUPO 2 .&/6 CVUUPO

5IF )%.* KBDL JT PO UIF $SBEMF

&OHMJTI @

HFUUJOH UP LOPX ZPVS )% DBNDPSEFS 3*()5 501 7*&8

1)050 CVUUPO ;PPN 8 5 MFWFS 4XJWFM IBOEMF

@ &OHMJTI

#VJMU JO GMBTI (SJQ CFMU IPPL (SJQ CFMU

3&"3 #0550. 7*&8

ⓐ ⓑ ⓒ

.0%& CVUUPO .PEF JOEJDBUPS

1IPUP 1MBZ .PWJF 01&/ TXJUDI 3FDPSEJOH TUBSU TUPQ CVUUPO 108&3 TXJUDI $)( DIBSHJOH JOEJDBUPS .*$ FYUFSOBM NJDSPQIPOF KBDL %$ */ KBDL

NPEF

#BUUFSZ QBDL .FNPSZ DBSE DPWFS ⓐ #BUUFSZ QBDL SFMFBTF TXJUDI ⓑ .FNPSZ DBSE TMPU ⓒ #BUUFSZ QBDL TMPU *OUFSOBM NJDSPQIPOF 5SJQPE SFDFQUBDMF $SBEMF SFDFQUBDMF &OHMJTI @

QSFQBSBUJPO 5IJT TFDUJPO QSPWJEFT JOGPSNBUJPO PO VTJOH UIJT )% DBNDPSEFS TVDI BT IPX UP VTF UIF QSPWJEFE BDDFTTPSJFT IPX UP DIBSHF UIF CBUUFSZ IPX UP TFUVQ UIF PQFSBUJPO NPEF BOE JOJUJBM TFUVQ

64*/( 5)& 3&.05& $0/530-

3&$ CVUUPO %JTQMBZ CVUUPO 4LJQ CVUUPO 4UPQ CVUUPO .&/6 CVUUPO $POUSPM CVUUPOT 1)050 CVUUPO ;PPN 8 5 CVUUPO 4&-' 5*.&3 CVUUPO 4FBSDI CVUUPO 4MPX QMBZCBDL CVUUPO 1MBZ 1BVTF CVUUPO 2 .&/6 CVUUPO 5IF CVUUPOT PO UIF SFNPUF DPOUSPM GVODUJPO UIF TBNF BT UIPTF PO UIF )% DBNDPSEFS @ &OHMJTI

*/45"--*/( 5)& #6550/ 5:1& #"55&3: *OTUBMMJOH UIF CVUUPO UZQF CBUUFSZ JO UIF SFNPUF DPOUSPM 5VSO UIF CBUUFSZ IPMEFS DPVOUFSDMPDLXJTF BT JOEJDBUFE XJUI ~ NBSL VTJOH ZPVS GJOHFSOBJM PS B DPJO UP PQFO JU 5IF CBUUFSZ IPMEFS PQFOT *OTFSU UIF CBUUFSZ JOUP UIF CBUUFSZ IPMEFS XJUI UIF QPTJUJWF

UFSNJOBM GBDJOH EPXO BOE QSFTT JU GJSNMZ VOUJM ZPV IFBS B MPDLJOH TPVOE 1MBDF UIF CBUUFSZ IPMEFS CBDL JO UIF SFNPUF DPOUSPM NBUDI JUT { NBSL XJUI UIF ~

NBSL PO UIF SFNPUF DPOUSPM BOE UVSO UIF CBUUFSZ IPMEFS DMPDLXJTF UP MPDL JU 1SFDBVUJPOT SFHBSEJOH UIF CVUUPO UZQF CBUUFSZ t 5IFSF JT B EBOHFS PG FYQMPTJPO JG CVUUPO UZQF CBUUFSZ JT JODPSSFDUMZ SFQMBDFE 3FQMBDF POMZ XJUI UIF TBNF PS FRVJWBMFOU UZQF t %P OPU QJDL VQ UIF CBUUFSZ VTJOH UXFF[FST PS PUIFS NFUBM UPPMT 5IJT XJMM DBVTF B TIPSU DJSDVJU t %P OPU SFDIBSHF EJTBTTFNCMF IFBU PS JNNFSTF UIF CBUUFSZ JO XBUFS UP BWPJE UIF SJTL PG FYQMPTJPO

#BUUFSZ IPMEFS

,FFQ UIF CVUUPO UZQF CBUUFSZ PVU PG UIF SFBDI PG UIF DIJMESFO 4IPVME BOZ CBUUFSZ CF TXBMMPXFE DPOTVMU B EPDUPS JNNFEJBUFMZ 8"3/*/(

64*/( 5)& $3"%-& t 5IF DSBEMF JT B DPOOFDUJPO QMBUF XIJDI DBO CF VTFE UP NBLF UIF DBNDPSEFS NPSF TUBCMF XIFO DIBSHJOH UIF CBUUFSZ PS DPOOFDUJOH UP BO FYUFSOBM EFWJDF 57 1$ FUD

t :PV IBWF UP DPOOFDU UIF "$ QPXFS BEBQUPS UP UIF DSBEMF XIFO DPOOFDUJOH FYUFSOBM EFWJDFT VTJOH UIF DSBEMF t *G ZPV DPOOFDU ZPVS )% DBNDPSEFS UP UIF QSPWJEFE DSBEMF VTJOH NPSF UIBO POF UZQF PG DBCMF UP PVUQVU JNBHF UIF PSEFS PG QSJPSJUZ PG UIF PVUQVU TJHOBM JT BT GPMMPXT 64# DBCMF )%.* DBCMF $PNQPOFOU .VMUJ "7 DBCMF t *G ZPV DPOOFDU UIF DBNDPSEFS UP UIF DSBEMF 64# BOE $PNQPOFOU .VMUJ "7 KBDL PG UIF DBNDPSEFS BSF OPU PQFSBUFE t %P OPU DPOOFDU UIF DPOOFDUJPO DBCMFT UP )% DBNDPSEFS BOE DSBEMF BU UIF TBNF UJNF JU NBZ DBVTF DPOGMJDU BOE NBZ OPU XPSL QSPQFSMZ *G UIJT PDDVST SFNPWF BMM UIF DPOOFDUFE DBCMFT BOE USZ UIF DPOOFDUJPO BHBJO

$SBEMF SFDFQUBDMF

%$ */ KBDL 64# KBDL

)%.* KBDL $PNQPOFOU .VMUJ "7 KBDL

&OHMJTI @

QSFQBSBUJPO )0-%*/( 5)& )% $".$03%&3 "UUBDIJOH UIF HSJQ CFMU *OTFSU ZPVS SJHIU IBOE GSPN UIF CPUUPN PG UIF )% DBNDPSEFS VQ UP UIF CBTF PG ZPVS UIVNC 1VU ZPVS IBOE JO B QPTJUJPO XIFSF ZPV DBO FBTJMZ PQFSBUF UIF 3FDPSEJOH TUBSU TUPQ CVUUPO 1)050 CVUUPO BOE UIF ;PPN MFWFS "EKVTU UIF MFOHUI PG HSJQ CFMU TP UIBU UIF )% DBNDPSEFS JT TUBCMF XIFO ZPV QSFTT UIF 3FDPSEJOH TUBSU TUPQ CVUUPO XJUI ZPVS UIVNC %FUBDI UIF CFMU "EKVTU UIF MFOHUI PG UIF HSJQ CFMU BOE BUUBDI JU

"OHMF BEKVTUNFOU 3PUBUF UIF TXJWFM IBOEMF UP UIF NPTU DPOWFOJFOU BOHMF :PV DBO SPUBUF JU EPXOXBSE GSPN ยก UP ยก 1MFBTF CF DBSFGVM OPU UP UVSO UIF TXJWFM IBOEMF CBDLXBSE BT JU NBZ DBVTF EBNBHF

"55"$)*/( 5)& $03& '*-5&3 t 5P SFEVDF JOUFSGFSFODF PG FMFDUSJD XBWF BUUBDI UIF DPSF GJMUFS UP "$ QPXFS BEBQUPS .VMUJ "7 DBCMF BOE )%.* DBCMF PQUJPO

t "UUBDI UIF DPSF GJMUFS DMPTFS UP UIF KBDL PG UIF )% DBNDPSEFS t 5P BUUBDI UIF DPSF GJMUFS UP QPXFS BEBQUFS SPMM UIF DBCMF PWFS DPSF GJMUFS PODF t #F DBSFGVM OPU UP EBNBHF UIF DBCMF XIFO BUUBDIJOH UIF DPSF GJMUFS

8JOE PODF

"$ QPXFS BEBQUPS

.VMUJ "7DBCMF

)%.* DBCMF PQUJPO

@ &OHMJTI

$)"3(*/( 5)& #"55&3: 1"$, t 6TF UIF *" #1 45 CBUUFSZ QBDL POMZ t 5IF CBUUFSZ QBDL NBZ CF DIBSHFE B MJUUMF BU UIF UJNF PG QVSDIBTF t #F TVSF UP DIBSHF UIF CBUUFSZ QBDL CFGPSF ZPV TUBSU VTJOH ZPVS )% DBNDPSEFS

*OTFSUJOH UIF CBUUFSZ QBDL 0QFO UIF CBUUFSZ QBDL DPWFS CZ TMJEJOH UIF 01&/ TXJUDI VQXBSE BT TIPXO JO UIF GJHVSF *OTFSU UIF CBUUFSZ QBDL JOUP UIF CBUUFSZ QBDL TMPU VOUJM JU TPGUMZ DMJDLT t .BLF TVSF UIBU XPSE NBSL 4".46/( JT GBDJOH MFGU XIJMF UIF DBNDPSEFS JT QMBDFE BT TIPXO JO UIF GJHVSF $MPTF UIF CBUUFSZ QBDL DPWFS

$IBSHJOH UIF CBUUFSZ QBDL 4MJEF UIF 108&3 TXJUDI EPXOXBSE UP UVSO PGG UIF QPXFS 0QFO UIF %$ */ KBDL DPWFS BOE DPOOFDU UIF "$ QPXFS BEBQUPS UP UIF %$ */ KBDL $POOFDU UIF "$ QPXFS BEBQUPS UP B XBMM TPDLFU 0ODF DIBSHFE EJTDPOOFDU UIF "$ QPXFS BEBQUPS GSPN UIF %$ */ KBDL PO ZPVS )% DBNDPSEFS t &WFO XJUI UIF QPXFS TXJUDIFE PGG UIF CBUUFSZ QBDL XJMM TUJMM EJTDIBSHF JG JU JT MFGU JOTFSUFE JO UIF )% DBNDPSEFS t :PV DBO BMTP DIBSHF XJUI UIF DSBEMF ¬QBHF t *U JT SFDPNNFOEFE ZPV QVSDIBTF POF PS NPSF BEEJUJPOBM CBUUFSZ QBDLT UP BMMPX DPOUJOVPVT VTF PG ZPVS )% DBNDPSEFS 6TF POMZ 4BNTVOH BQQSPWFE CBUUFSZ QBDLT %P OPU VTF CBUUFSJFT GSPN PUIFS NBOVGBDUVSFST 0UIFSXJTF UIFSF JT B EBOHFS PG PWFSIFBUJOH GJSF PS FYQMPTJPO 4BNTVOH JT OPU SFTQPOTJCMF GPS QSPCMFNT PDDVSSJOH EVF UP VTJOH VOBQQSPWFE CBUUFSJFT &OHMJTI @

QSFQBSBUJPO $IBSHJOH JOEJDBUPS 5IF DPMPVS PG UIF $)( MBNQ JOEJDBUFT UIF QPXFS PS DIBSHJOH TUBUF t *G UIF CBUUFSZ QBDL IBT CFFO GVMMZ DIBSHFE UIF DIBSHF JOEJDBUPS JT HSFFO t *G ZPV BSF DIBSHJOH UIF CBUUFSZ UIF DPMPVS PG UIF DIBSHF JOEJDBUPS JT PSBOHF t *G BO FSSPS PDDVST XIJMF UIF CBUUFSZ QBDL JT DIBSHJOH UIF DIBSHJOH JOEJDBUPS CMJOLT HSFFO t #BUUFSZ QBDL DIBSHFT UP JG DIBSHFE GPS BCPVU IPVS BOE NJOVUFT BOE UIF JOEJDBUPS DPMPVS DIBOHFT UP HSFFO *U UBLFT BCPVU IPVST GPS UIF CBUUFSZ QBDL UP DIBSHF UP $IBSHJOH JOEJDBUPS

$IBSHJOH SFDPSEJOH BOE QMBZCBDL UJNFT XJUI B GVMMZ DIBSHFE CBUUFSZ QBDL XJUI OP [PPN PQFSBUJPO -$% PQFO FUD

#BUUFSZ UZQF

*" #1 45

$IBSHJOH UJNF

BQQSPY NJO

3FDPSEJOH GPSNBU

$POUJOVPVT SFDPSEJOH UJNF

1MBZCBDL UJNF

)%

BQQSPY NJO

BQQSPY NJO

4%

BQQSPY NJO

BQQSPY NJO

t 5IF UJNF JT POMZ GPS SFGFSFODF 'JHVSFT TIPXO BCPWF BSF NFBTVSFE VOEFS 4BNTVOH T UFTU FOWJSPONFOU BOE NBZ EJGGFS GSPN ZPVS BDUVBM VTF t 5IF SFDPSEJOH UJNF TIPSUFOT ESBNBUJDBMMZ JO B DPME FOWJSPONFOU 5IF DPOUJOVPVT SFDPSEJOH UJNFT JO UIF PQFSBUJOH JOTUSVDUJPOT BSF NFBTVSFE VTJOH B GVMMZ DIBSHFE CBUUFSZ QBDL BU ยก$ ยก' "T UIF FOWJSPONFOUBM UFNQFSBUVSF BOE DPOEJUJPOT WBSZ UIF SFNBJOJOH CBUUFSZ UJNF NBZ EJGGFS GSPN UIF BQQSPYJNBUF DPOUJOVPVT SFDPSEJOH UJNFT HJWFO JO UIF JOTUSVDUJPOT @ &OHMJTI

$POUJOVPVT SFDPSEJOH XJUIPVU [PPN

5IF UJNFT TIPXO JO UIF UBCMF SFGMFDU UIF BWBJMBCMF SFDPSEJOH UJNF XIFO UIF )% DBNDPSEFS JT JO UIF SFDPSEJOH NPEF XJUIPVU VTJOH BOZ PUIFS GVODUJPOT *O BDUVBM SFDPSEJOH UIF CBUUFSZ QBDL NBZ EJTDIBSHF UJNFT GBTUFS UIBO UIJT SFGFSFODF TJODF UIF 3FDPSE TUBSU TUPQ BOE ;PPN BSF CFJOH PQFSBUFE BOE QMBZCBDL JT QFSGPSNFE "TTVNF UIBU UIF SFDPSEBCMF UJNF XJUI B GVMMZ DIBSHFE CBUUFSZ QBDL JT CFUXFFO BOE PG UIF UJNF JO UIF UBCMF BOE FOPVHI CBUUFSZ QBDLT UP BMMPX GPS UIF UJNF ZPV BSF QMBOOJOH UP SFDPSE PO UIF )% DBNDPSEFS /PUF UIBU UIF CBUUFSZ QBDL EJTDIBSHFT GBTUFS JO DPME UFNQFSBUVSFT CFMPX ยก$ ยก'

t 5IF DIBSHJOH UJNF XJMM WBSZ EFQFOEJOH PO UIF SFNBJOJOH CBUUFSZ MFWFM

L$)&$, CVUUPO ยฌQBHF t 5P DIFDL UIF SFNBJOJOH CBUUFSZ DIBSHF QSFTT BOE IPME UIF %JTQMBZ

&KFDUJOH UIF CBUUFSZ QBDL 0QFO UIF CBUUFSZ QBDL DPWFS CZ TMJEJOH UIF 01&/ TXJUDI VQXBSE BT TIPXO JO UIF GJHVSF 4MJEF UIF #BUUFSZ QBDL SFMFBTF TXJUDI BOE QVMM PVU UIF CBUUFSZ QBDL t (FOUMZ TMJEF UIF #BUUFSZ QBDL SFMFBTF TXJUDI JO UIF EJSFDUJPO BT TIPXO JO UIF GJHVSF $MPTF UIF CBUUFSZ QBDL DPWFS t "EEJUJPOBM CBUUFSZ QBDLT BSF BWBJMBCMF BU ZPVS MPDBM 4BNTVOH EFBMFS t *G UIF )% DBNDPSEFS XJMM OPU CF JO VTF GPS B XIJMF SFNPWF UIF CBUUFSZ QBDL GSPN UIF )% DBNDPSEFS "CPVU CBUUFSZ QBDLT t 5IF CBUUFSZ QBDL TIPVME CF SFDIBSHFE JO BO FOWJSPONFOU UIBU JT CFUXFFO ยก$ ยก' BOE ยก$ ยก' )PXFWFS XIFO JU JT FYQPTFE UP DPME UFNQFSBUVSFT CFMPX ยก$ ยก'

JUT VTBHF UJNF CFDPNFT SFEVDFE BOE JU NBZ DFBTF UP GVODUJPO *G UIJT IBQQFOT QMBDF UIF CBUUFSZ QBDL JO ZPVS QPDLFU PS BOZ XBSN QSPUFDUFE QMBDF GPS B TIPSU UJNF UIFO SF JOTFSU JU JO UIF )% DBNDPSEFS t %P OPU QVU UIF CBUUFSZ QBDL OFBS BOZ IFBU TPVSDF J F GJSF PS B IFBUFS

t %P OPU EJTBTTFNCMF BQQMZ QSFTTVSF UP PS IFBU UIF CBUUFSZ QBDL t %P OPU BMMPX CBUUFSZ QBDL UFSNJOBMT UP CF TIPSU DJSDVJUFE *U NBZ DBVTF MFBLBHF IFBU HFOFSBUJPO JOEVDF PWFSIFBUJOH PS GJSF &OHMJTI @

QSFQBSBUJPO .BJOUBJOJOH UIF CBUUFSZ QBDL t 5IF SFDPSEJOH UJNF JT BGGFDUFE CZ UFNQFSBUVSF BOE FOWJSPONFOUBM DPOEJUJPOT t 8F SFDPNNFOE POMZ VTJOH UIF PSJHJOBM CBUUFSZ QBDL UIBU JT BWBJMBCMF GSPN ZPVS 4BNTVOH SFUBJMFS 8IFO UIF CBUUFSZ SFBDIFT UIF FOE PG JUT MJGF QMFBTF DPOUBDU ZPVS MPDBM EFBMFS 5IF CBUUFSJFT IBWF UP CF EFBMU XJUI BT DIFNJDBM XBTUF t .BLF TVSF UIBU UIF CBUUFSZ QBDL JT GVMMZ DIBSHFE CFGPSF TUBSUJOH UP SFDPSE t 5P QSFTFSWF CBUUFSZ QPXFS LFFQ ZPVS )% DBNDPSEFS UVSOFE PGG XIFO ZPV BSF OPU PQFSBUJOH JU t &WFO XIFO UIF QPXFS JT TXJUDIFE PGG UIF CBUUFSZ QBDL XJMM TUJMM EJTDIBSHF JG JU JT MFGU JOTFSUFE PO UIF )% DBNDPSEFS *G UIF )% DBNDPSEFS XJMM OPU CF JO VTF GPS B XIJMF SFNPWF UIF CBUUFSZ QBDL GSPN UIF )% DBNDPSEFS t 'PS QPXFS TBWJOH QVSQPTFT UIF )% DBNDPSEFS XJMM BVUPNBUJDBMMZ UVSO PGG BGUFS NJOVUFT JO TUBOECZ NPEF 0OMZ JG ZPV TFU i"VUP 1PXFS 0GGw GSPN UIF NFOV UP PO i NJO w

t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

6TJOH UIF )% DBNDPSEFS XJUI UIF "$ QPXFS BEBQUPS *U JT SFDPNNFOEFE UIBU ZPV VTF UIF "$ QPXFS BEBQUPS UP QPXFS UIF )% DBNDPSEFS GSPN B IPVTFIPME "$ PVUMFU XIFO ZPV QFSGPSN TFUUJOHT PO JU QMBZ CBDL PS FEJU JNBHFT PS VTF JU JOEPPST ¬QBHF t #FGPSF EFUBDIJOH UIF QPXFS TPVSDF NBLF TVSF UIBU UIF )% DBNDPSEFS T QPXFS JT UVSOFE PGG 'BJMVSF UP EP TP DBO SFTVMU JO DBNDPSEFS NBMGVODUJPO $"65*0/ t 6TF B OFBSCZ XBMM PVUMFU XIFO VTJOH UIF "$ QPXFS BEBQUPS %JTDPOOFDU UIF "$ QPXFS BEBQUPS GSPN UIF XBMM PVUMFU JNNFEJBUFMZ JG BOZ NBMGVODUJPO PDDVST XIJMF VTJOH ZPVS )% DBNDPSEFS t %P OPU VTF UIF "$ QPXFS BEBQUPS JO B OBSSPX TQBDF TVDI BT CFUXFFO B XBMM BOE GVSOJUVSF

@ &OHMJTI

#"4*$ )% $".$03%&3 01&3"5*0/ 4FU UIF BQQSPQSJBUF PQFSBUJPO NPEF BDDPSEJOH UP ZPVS QSFGFSFODF VTJOH UIF 108&3 TXJUDI BOE .0%& CVUUPO

5VSOJOH UIF )% DBNDPSEFS PO BOE PGG :PV DBO UVSO UIF DBNDPSEFS PO PS PGG CZ TMJEJOH UIF 108&3 TXJUDI EPXOXBSE 5IF MFOT PQFOT BVUPNBUJDBMMZ XJUI )% DBNDPSEFS PO t 4FU UIF EBUF BOE UJNF XIFO VTJOH ZPVS )% DBNDPSEFS GPS UIF GJSTU UJNF ¬QBHF t 8IFO ZPV VTF ZPVS )% DBNDPSEFS GPS UIF GJSTU UJNF PS ZPV QFSGPSN i%FGBVMU 4FUw GVODUJPO ZPV XJMM TFF UIF i%BUF 5JNF 4FUw NFOV GPS UIF TUBSUVQ EJTQMBZ *G ZPV EP OPU TFU UIF EBUF BOE UJNF UIF EBUF BOE UJNF TFUUJOH TDSFFO BQQFBST FWFSZ UJNF ZPV UVSO PO ZPVS DBNDPSEFS t 8IFO UIF )% DBNDPSEFS JT UVSOFE PO UIF TFMG EJBHOPTJT GVODUJPO PQFSBUFT BOE B NFTTBHF NBZ BQQFBS *O UIJT DBTF SFGFS UP i8BSOJOH JOEJDBUPST BOE NFTTBHFTw PO QBHFT BOE UBLF DPSSFDUJWF BDUJPO

.PEF JOEJDBUPS

4FUUJOH UIF PQFSBUJOH NPEFT t :PV DBO TXJUDI UIF PQFSBUJOH NPEF JO UIF GPMMPXJOH PSEFS FBDI UJNF ZPV QSFTT UIF .0%& CVUUPO

1IPUP NPEF 1MBZ NPEF

.PWJF NPEF

.PWJF NPEF t &BDI UJNF UIF PQFSBUJPOBM NPEF DIBOHFT UIF SFTQFDUJWF NPEF JOEJDBUPS MJHIUT VQ

5P SFDPSE NPWJF JNBHFT ¬QBHF .PWJF NPEF 1IPUP NPEF 5P SFDPSE QIPUP JNBHFT ¬QBHF

5P QMBZ NPWJF PS QIPUP JNBHFT PS FEJU UIFN ¬QBHF 1MBZ NPEF

108&3 TXJUDI .0%& CVUUPO

5IF .PWJF 3FDPSE TDSFFO BQQFBST BT B TUBSU VQ NPEF XJUI UIF QPXFS PO :PV DBO TFMFDU UIF EFTJSFE NPEF VTJOH UIF .0%& CVUUPO

&OHMJTI @

QSFQBSBUJPO 4$3&&/ */%*$"5034 .PWJF SFDPSE NPEF 67%< > 0LQ@

0LQ

0HPRU\ )XOO

-$1

t

5IF 04% JOEJDBUPST BSF CBTFE PO NFNPSZ DBQBDJUZ PG (# CVJMU JO NFNPSZ

t 5IF BCPWF TDSFFO JT BO FYBNQMF GPS FYQMBOBUJPO *U JT EJGGFSFOU GSPN UIF BDUVBM EJTQMBZ t 'VODUJPOT NBSRVFF XJUI XJMM OPU CF SFUBJOFE XIFO UIF )% DBNDPSEFS JT QPXFSFE PO BGUFS UVSOJOH JU PGG t 'PS FOIBODFE QFSGPSNBODF UIF EJTQMBZ JOEJDBUJPOT BOE UIF PSEFS BSF TVCKFDU UP DIBOHF XJUIPVU QSJPS OPUJDF Ì 5IF NBYJNVN BWBJMBCMF SFDPSEJOH UJNF EJTQMBZFE JT NJOVUFT FWFO UIPVHI UIF BDUVBM BWBJMBCMF SFDPSEJOH UJNF NBZ FYDFFE NJOVUFT

@ &OHMJTI

.PWJF SFDPSE NPEF 0QFSBUJOH NPEF 45#: TUBOECZ PS z SFDPSEJOH

5JNF DPVOUFS NPWJF SFDPSEJOH UJNF 4FMG UJNFS 'BDF EFUFDU 3FNBJOJOH SFDPSEBCMF UJNF Ì

8BSOJOH JOEJDBUPST BOE NFTTBHFT 4UPSBHF NFEJB CVJMU JO NFNPSZ PS NFNPSZ DBSE

#BUUFSZ JOGP SFNBJOJOH CBUUFSZ MFWFM UJNF

.PWJF JNBHF RVBMJUZ .PWJF JNBHF SFTPMVUJPO -$% FOIBODFS "OUJ TIBLF &*4

5FMF NBDSP 8JOE DVU #BDL MJHIU $PNQPOFOU PVU XIFO DPNQPOFOU DBCMF JT DPOOFDUFE

57 UZQF XIFO DPNQPOFOU PS .VMUJ "7 DBCMF JT DPOOFDUFE

.FOV UBC ;PPN %JHJUBM [PPN QPTJUJPO %BUF 5JNF 3FDPSE 1MBZ NPEF UBC .BOVBM TIVUUFS 4VQFS $ /JUF .BOVBM FYQPTVSF .BOVBM GPDVT 8IJUF CBMBODF 'BEFS 4DFOF NPEF "& &"4: 2 %JHJUBM FGGFDU

.PWJF QMBZ NPEF

0LQ

-$1

0HPRU\ )XOO

5IF QMBZ SFMBUFE UBCT EJTBQQFBS PO UIF TDSFFO B GFX TFDPOET BCPVU TFDPOET BGUFS UIF JNBHF QMBZT CBDL 5IFZ SFBQQFBS XIFO ZPV UPVDI BOZ QPJOU PO UIF TDSFFO

.PWJF QMBZ NPEF 0QFSBUJOH TUBUVT 1MBZ 1BVTF )JHIMJHIU WJFX 'JMF OBNF GJMF OVNCFS

5JNF DPEF FMBQTFE UJNF SFDPSEFE UJNF

8BSOJOH JOEJDBUPST BOE NFTTBHFT 7PMVNF DPOUSPM 4UPSBHF NFEJB CVJMU JO NFNPSZ PS NFNPSZ DBSE

#BUUFSZ JOGP 3FNBJOJOH CBUUFSZ MFWFM UJNF

-$% FOIBODFS .PWJF JNBHF RVBMJUZ .PWJF JNBHF SFTPMVUJPO %BUF 5JNF 57 UZQF XIFO DPNQPOFOU PS .VMUJ "7 DBCMF JT DPOOFDUFE

$PNQPOFOU PVU XIFO DPNQPOFOU DBCMF JT DPOOFDUFE

.PWJF QMBZ SFMBUFE GVODUJPO UBC 4LJQ 4FBSDI 1MBZ 1BVTF 4MPX 1MBZCBDL

3FUVSO UBC 7PMVNF UBC &SBTF QSPUFDUJPO $POU DBQUVSF 1MBZ PQUJPO

&OHMJTI @

QSFQBSBUJPO

1IPUP SFDPSE NPEF

0LQ

0HPRU\ )XOO

-$1

Ì 5IF NBYJNVN OVNCFS PG SFDPSEBCMF JNBHFT EJTQMBZFE JT FWFO UIPVHI UIF BDUVBM OVNCFS PG SFDPSEBCMF JNBHFT NBZ FYDFFE

@ &OHMJTI

1IPUP SFDPSE NPEF 4FMG UJNFS 'BDF EFUFDU 8BSOJOH JOEJDBUPST BOE NFTTBHFT *NBHF DPVOUFS Ì

UPUBM OVNCFS PG SFDPSEBCMF QIPUP JNBHFT

4UPSBHF NFEJB CVJMU JO NFNPSZ PS NFNPSZ DBSE

#BUUFSZ JOGP SFNBJOJOH CBUUFSZ MFWFM UJNF

*40 TFOTJUJWJUZ 1IPUP JNBHF SFTPMVUJPO -$% FOIBODFS "OUJ TIBLF &*4

'MBTI NPEF 5FMF NBDSP 4IBSQOFTT $POU TIPU 57 UZQF XIFO DPNQPOFOU PS .VMUJ "7 DBCMF JT DPOOFDUFE

$PNQPOFOU PVU XIFO DPNQPOFOU DBCMF JT DPOOFDUFE

.FOV UBC ;PPN %JHJUBM [PPN QPTJUJPO %BUF 5JNF 3FDPSE 1MBZ NPEF UBC .BOVBM TIVUUFS .BOVBM FYQPTVSF .BOVBM GPDVT 8IJUF CBMBODF 4DFOF NPEF "& &"4: 2 %JHJUBM FGGFDU

1IPUP QMBZ NPEF

0LQ

-$1

;

1IPUP QMBZ NPEF .VTJD TMJEF TIPX 1MBZCBDL [PPN 'JMF OBNF GJMF OVNCFS

*NBHF DPVOUFS DVSSFOU JNBHF UPUBM OVNCFS PG SFDPSEFE JNBHFT

4UPSBHF NFEJB CVJMU JO NFNPSZ PS NFNPSZ DBSE

#BUUFSZ JOGP SFNBJOJOH CBUUFSZ MFWFM UJNF

-$% FOIBODFS 1IPUP JNBHF SFTPMVUJPO %BUF 5JNF 57 UZQF XIFO DPNQPOFOU PS .VMUJ "7 DBCMF JT DPOOFDUFE

$PNQPOFOU PVU XIFO DPNQPOFOU DBCMF JT DPOOFDUFE

1SFWJPVT JNBHF /FYU JNBHF UBC .FOV UBC 3FUVSO UBC 1SJOU NBSL &SBTF QSPUFDUJPO

&OHMJTI @

QSFQBSBUJPO 64*/( 5)& %*41-":

L$)&$, #6550/

4XJUDIJOH UIF JOGPSNBUJPO EJTQMBZ NPEF :PV DBO TXJUDI CFUXFFO UIF PO TDSFFO JOGPSNBUJPO EJTQMBZ NPEFT 1SFTT UIF %JTQMBZ L$)&$, CVUUPO 5IF GVMM BOE NJOJNVN EJTQMBZ NPEFT XJMM BMUFSOBUF t 'VMM EJTQMBZ NPEF "MM JOGPSNBUJPO XJMM BQQFBS t .JOJNVN EJTQMBZ NPEF 0OMZ PQFSBUJOH TUBUVT JOEJDBUPST XJMM BQQFBS *G UIF )% DBNDPSEFS IBT XBSOJOH JOGPSNBUJPO B XBSOJOH NFTTBHF XJMM BQQFBS 3FNBJOJOH CBUUFSZ BQQSPY

$IFDLJOH UIF SFNBJOJOH CBUUFSZ BOE SFDPSEJOH DBQBDJUZ t 8IFO UIF QPXFS JT PO QSFTT BOE IPME UIF %JTQMBZ L$)&$, CVUUPO t 8IFO UIF QPXFS JT PGG QSFTT UIF %JTQMBZ L$)&$, CVUUPO t "GUFS B XIJMF UIF CBUUFSZ UJNF BOE BQQSPYJNBUF SFDPSEBCMF UJNF BDDPSEJOH UP UIF TUPSBHF BOE RVBMJUZ BQQFBS GPS BCPVU TFDPOET t 5IF TFMFDUFE TUPSBHF NFEJB JT IJHIMJHIUFE *G B NFNPSZ DBSE JT OPU JOTFSUFE JUT JDPO EPFT OPU BQQFBS %JTQMBZ

@ &OHMJTI

L$)&$, CVUUPO EPFT OPU XPSL JO UIF NFOV PS RVJDL NFOV TDSFFO

%DWWHU\

0LQ 0HPRU\ 6XSHU )LQH

0LQ

0LQ

3FDPSEBCMF NFNPSZ DBQBDJUZ BQQSPY

64*/( 5)& -$% 4$3&&/ "EKVTUJOH UIF -$% TDSFFO 0QFO VQ UIF -$% TDSFFO EFHSFFT XJUI ZPVS GJOHFS 3PUBUF JU UP UIF CFTU BOHMF UP SFDPSE PS QMBZ %P OPU MJGU UIF )% DBNDPSEFS CZ IPMEJOH UIF -$% TDSFFO 8"3/*/(

t 0WFS SPUBUJPO NBZ DBVTF EBNBHF UP UIF JOTJEF PG UIF IJOHF UIBU DPOOFDUT UIF -$% TDSFFO UP UIF )% DBNDPSEFS t 4FF QBHF UP BEKVTU UIF CSJHIUOFTT BOE DPMPVS PG UIF -$% TDSFFO

6TJOH UIF UPVDI QBOFM :PV DBO QMBZ SFDPSEFE JNBHFT BOE TFU UIF GVODUJPOT CZ VTJOH UIF UPVDI QBOFM 1MBDF ZPVS IBOE PO UIF SFBS TJEF PG UIF -$% QBOFM UP TVQQPSU JU 5IFO UPVDI UIF JUFNT EJTQMBZFE PO UIF TDSFFO t #F DBSFGVM OPU UP QSFTT UIF CVUUPOT OFBS UIF -$% QBOFM BDDJEFOUBMMZ XIJMF VTJOH UIF UPVDI QBOFM t 5IF UBCT BOE JOEJDBUPST UIBU BQQFBS PO UIF -$% QBOFM EFQFOE PO UIF SFDPSEJOH QMBZCBDL TUBUVT PG ZPVS )% DBNDPSEFS BU UIF UJNF t 5P BWPJE NBMGVODUJPO PG UIF UPVDI TDSFFO QMFBTF SFNPWF BOE EJTDBSE UIF QSPUFDUJPO GJMN GSPN UIF TDSFFO CFGPSF VTJOH

0LQ

&RPSRQHQW 2XW 79 'LVSOD\

'HIDXOW 6HW /DQJXDJH

&OHMJTI @

QSFQBSBUJPO */*5*"- 4&55*/( 04% -"/(6"(& %"5& "/% 5*.& 5P SFBE UIF NFOVT PS NFTTBHFT JO ZPVS EFTJSFE MBOHVBHF TFU UIF 04% MBOHVBHF 5P TUPSF UIF EBUF BOE UJNF EVSJOH SFDPSEJOH TFU UIF EBUF UJNF

67%< > 0LQ@

0LQ

4FMFDUJOH UIF 04% MBOHVBHF :PV DBO TFMFDU UIF EFTJSFE MBOHVBHF UP EJTQMBZ UIF NFOV TDSFFO BOE UIF NFTTBHFT

5PVDI .FOV UBC 5PVDI 4FUUJOHT UBC 5PVDI VQ EPXO UBC VOUJM i-BOHVBHFw JT EJTQMBZFE 5PVDI i-BOHVBHFw UIFO UPVDI UIF EFTJSFE 04% MBOHVBHF

0LQ

'DWH 7LPH 6HW 'DWH 7LPH

i&OHMJTIw i*UBMJBOPw i4WFOTLBw i1PMTLJw i ፩ၭ w w i

i 한국어 w i&TQB×PMw i4VPNJw i.BHZBSw ięðûw iýHãWLQDw

i'SBOÎBJTw i1PSUVHVÐTw i/PSTLw iɍɤɪɚȧɧɫɶɤɚw i5àSLÎFw i4MPWFOTLZw

i%FVUTDIw i/FEFSMBOETw i%BOTLw iɊɭɫɫɤɢɣw w i

'DWH 7\SH )LOH 1R

0LQ

&RPSRQHQW 2XW 79 'LVSOD\

5P FYJU UPVDI &YJU UBC PS 3FUVSO UBC SFQFBUFEMZ VOUJM NFOV EJTBQQFBST t 5IF 04% MBOHVBHF JT SFGSFTIFE JO UIF TFMFDUFE MBOHVBHF t &WFO JG UIF CBUUFSZ QBDL PS "$ QPXFS BSF SFNPWFE UIF MBOHVBHF TFUUJOH XJMM CF QSFTFSWFE t i-BOHVBHFw PQUJPOT NBZ CF DIBOHFE XJUIPVU QSJPS OPUJDF

@ &OHMJTI

'HIDXOW 6HW /DQJXDJH

4FUUJOH UIF EBUF BOE UJNF 4FU UIF EBUF BOE UJNF XIFO VTJOH UIJT )% DBNDPSEFS GPS UIF GJSTU UJNF 5PVDI .FOV UBC 5PVDI 4FUUJOHT UBC 5PVDI VQ EPXO UBC VOUJM i%BUF 5JNF 4FUw JT EJTQMBZFE 5PVDI i%BUF 5JNF 4FU w 5PVDI VQ EPXO UBC UP TFU DVSSFOU EBZ UIFO UPVDI NPOUI GJFME 4FU WBMVFT GPS NPOUI ZFBS IPVS BOE NJOVUF BT JO TFUUJOH UIF EBZ 5PVDI 0, 2.

UBC XIFO UIF EBUF BOE UJNF TFUUJOH JT DPNQMFUFE t 5IF NFTTBHF i%BUF 5JNF TFUw BQQFBST UIF TFU EBUF UJNF JT BQQMJFE t *G ZPV UPVDI UIF &YJU UBC CFGPSF UIF %BUF 5JNF JT TFU UIF NFOV EJTBQQFBST BOE UIF %BUF 5JNF JT OPU TBWFE BOE XIFO UPVDIJOH 3FUVSO UBC UIF NFTTBHF i%BUF 5JNF TFU JT OPU DIBOHFEw BQQFBST 5P FYJU 3FUVSO UBC SFQFBUFEMZ VOUJM NFOV EJTBQQFBST

t 0O DIBSHJOH UIF CVJMU JO SFDIBSHFBCMF CBUUFSZ :PVS DBNDPSEFS IBT B CVJMU JO SFDIBSHFBCMF CBUUFSZ UP SFUBJO UIF EBUF UJNF BOE PUIFS TFUUJOHT FWFO XIFO UIF QPXFS JT PGG 5IF CVJMU JO SFDIBSHFBCMF CBUUFSZ JT BMXBZT DIBSHFE XIJMF ZPVS DBNDPSEFS JT DPOOFDUFE UP UIF XBMM PVUMFU WJB UIF "$ QPXFS BEBQUPS PS XIJMF UIF CBUUFSZ QBDL JT BUUBDIFE 5IF SFDIBSHFBCMF CBUUFSZ XJMM CF GVMMZ EJTDIBSHFE JO BCPVU NPOUIT JG ZPV EP OPU VTF ZPVS DBNDPSEFS BU BMM *G UIF CVJMU JO SFDIBSHFBCMF CBUUFSZ JT OPU DIBSHFE BOZ JOQVU EBUB XJMM OPU CF CBDLFE VQ BOE UIF EBUF UJNF BQQFBST PO UIF TDSFFO BT i +"/ w XIFO i%BUF 5JNFw EJTQMBZ JT TFU UP 0O

t :PV DBO TFU UIF ZFBS VQ UP

0LQ

67%< > 0LQ@

0LQ

'DWH 7LPH 6HW 'DWH 7LPH

'DWH 7\SH )LOH 1R

'DWH 7LPH 6HW 'D\

0RQWK

<HDU

-$1

2.

5VSOJOH UIF EBUF BOE UJNF EJTQMBZ PO PGG 5P TXJUDI UIF EBUF BOE UJNF EJTQMBZ PO PS PGG BDDFTT UIF NFOV BOE DIBOHF UIF EBUF UJNF EJTQMBZ NPEF ¬QBHF

&OHMJTI @

CFGPSF SFDPSEJOH 4&-&$5*/( 5)& 4503"(& .&%*" t :PV DBO SFDPSE NPWJF BOE QIPUP JNBHFT PO UIF CVJMU JO NFNPSZ PS B NFNPSZ DBSE TP ZPV TIPVME TFMFDU UIF EFTJSFE TUPSBHF NFEJB CFGPSF TUBSUJOH SFDPSEJOH PS QMBZCBDL t :PV DBO VTF 4%)$ BOE ..$QMVT DBSET PO ZPVS )% DBNDPSEFS 4PNF DBSET BSF OPU DPNQBUJCMF EFQFOEJOH PO UIF NFNPSZ DBSE NBOVGBDUVSFS BOE NFNPSZ DBSE UZQF

t #FGPSF JOTFSUJOH PS FKFDUJOH UIF NFNPSZ DBSE UVSO UIF )% DBNDPSEFS PGG

0LQ

5PVDI .FOV UBC 5PVDI 4FUUJOHT UBC 5PVDI VQ EPXO UBC VOUJM i4UPSBHF 5ZQFw JT EJTQMBZFE 5PVDI i4UPSBHF 5ZQF w UIFO UIF EFTJSFE TUPSBHF NFEJB t i.FNPSZw 8IFO VTJOH UIF CVJMU JO NFNPSZ t i$BSEw 8IFO VTJOH UIF NFNPSZ DBSE 4%)$ PS ..$QMVT DBSE

5P FYJU &YJU UBC PS 3FUVSO UBC SFQFBUFEMZ VOUJM NFOV EJTBQQFBST

/&' &RQWURO /&' (QKDQFHU

6WRUDJH 7\SH 6WRUDJH ,QIR

6WRUDJH 7\SH

t /FWFS GPSNBU UIF CVJMU JO NFNPSZ PS NFNPSZ DBSE VTJOH B 1$ t 8IFO ZPV JOTFSU B NFNPSZ DBSE UIF TUPSBHF NFEJB TFUVQ TDSFFO BQQFBST 5PVDI i:FTw JG ZPV XBOU UP VTF B NFNPSZ DBSE PS i/Pw JG OPU #FGPSF JOTFSUJOH PS FKFDUJOH UIF NFNPSZ DBSE UVSO UIF )% DBNDPSEFS PGG t %P OPU SFNPWF UIF QPXFS CBUUFSZ QBDL PS "$ QPXFS BEBQUPS EVSJOH BDDFTTJOH TUPSBHF NFEJB TVDI BT SFDPSEJOH QMBZCBDL GPSNBU EFMFUF FUD 5IF TUPSBHF NFEJB BOE JUT EBUB NBZ CF EBNBHFE t %P OPU FKFDU B NFNPSZ DBSE XIJMF JU JT CFJOH VTFE JO UIF DBNDPSEFS 5IF NFNPSZ DBSE BOE JUT EBUB NBZ CF EBNBHFE t :PV DBO BMTP BDDFTT JU CZ VTJOH UIF 2 .&/6 CVUUPO 1SFTT UIF 2 .&/6 CVUUPO 5PVDI i4UPSBHFw 5PVDI i.FNPSZw PS i$BSE w

@ &OHMJTI

0HPRU\ &DUG

*/4&35*/( &+&$5*/( " .&.03: $"3% *OTFSUJOH B NFNPSZ DBSE 0QFO UIF NFNPSZ DBSE DPWFS CZ TMJEJOH UIF 01&/ TXJUDI VQXBSE BT TIPXO JO UIF GJHVSF *OTFSU UIF NFNPSZ DBSE JOUP UIF TMPU VOUJM JU TPGUMZ DMJDLT t .BLF TVSF UIBU UIF UFSNJOBM QPSUJPO JT GBDJOH MFGU BOE UIF DBNDPSEFS JT QMBDFE BT TIPXO JO UIF GJHVSF $MPTF UIF NFNPSZ DBSE DPWFS &KFDUJOH B NFNPSZ DBSE 0QFO UIF NFNPSZ DBSE DPWFS CZ TMJEJOH UIF 01&/ TXJUDI VQXBSE BT TIPXO JO UIF GJHVSF 4MJHIUMZ QVTI UIF NFNPSZ DBSE JOXBSET UP QPQ JU PVU 1VMM UIF NFNPSZ DBSE PVU PG UIF TMPU BOE DMPTF UIF NFNPSZ DBSE DPWFS

5IF )% DBNDPSEFS TVQQPSUT 4%)$ BOE ..$QMVT NFNPSZ DBSET GPS EBUB TUPSBHF 5IF EBUB TUPSBHF TQFFE NBZ EJGGFS BDDPSEJOH UP UIF NBOVGBDUVSFS BOE QSPEVDUJPO TZTUFN t 4-$ TJOHMF MFWFM DFMM TZTUFN GBTUFS XSJUF TQFFE FOBCMFE t .-$ NVMUJ MFWFM DFMM TZTUFN POMZ MPXFS XSJUF TQFFE TVQQPSUFE 'PS CFTU SFTVMUT XF SFDPNNFOE VTJOH B NFNPSZ DBSE UIBU TVQQPSUT GBTUFS XSJUF TQFFE 6TJOH B MPXFS XSJUF TQFFE NFNPSZ DBSE GPS SFDPSEJOH B NPWJF NBZ DBVTF EJGGJDVMUJFT XJUI TUPSJOH UIF NPWJF PO UIF NFNPSZ DBSE :PV NBZ FWFO MPTF ZPVS NPWJF EBUB EVSJOH UIF SFDPSEJOH *O BO BUUFNQU UP QSFTFSWF BOZ CJU PG UIF SFDPSEFE NPWJF UIF )% DBNDPSEFS GPSDJCMZ TUPSFT UIF NPWJF PO UIF NFNPSZ DBSE BOE EJTQMBZT B XBSOJOH i-PX 4QFFE $BSE 1MFBTF SFDPSE B -PXFS RVBMJUZw *G ZPV BSF VOBWPJEBCMZ VTJOH B MPX TQFFE NFNPSZ DBSE SFTPMVUJPO BOE RVBMJUZ PG UIF SFDPSEJOH NBZ CF MPXFS UIBO UIF TFU WBMVF ¬QBHF )PXFWFS UIF IJHIFS UIF SFTPMVUJPO BOE RVBMJUZ UIF NPSF NFNPSZ XJMM CF VTFE "DUVBM GPSNBUUFE DBQBDJUZ NBZ CF MFTT BT UIF JOUFSOBM GJSNXBSF VTFT B QPSUJPO PG UIF NFNPSZ

&OHMJTI @

CFGPSF SFDPSEJOH 3&$03%"#-& 5*.& "/% /6.#&3 0' *."(&4 3FDPSEBCMF UJNF GPS NPWJF JNBHFT .PWJF SFTPMVUJPO .PWJF RVBMJUZ <)%> Q <)%>4VQFS <)%> 'JOF <)%>'JOF J <)%>/PSNBM <4%>4VQFS <4%> 'JOF <4%>'JOF Q <4%>/PSNBM <4%>4MPX .PUJPO

4UPSBHF NFEJB $BQBDJUZ

(# (#

(#

(#

(#

(#

"QQSPY NJO

"QQSPY NJO

"QQSPY NJO

"QQSPY NJO

"QQSPY NJO

"QQSPY NJO

"QQSPY NJO

"QQSPY NJO

"QQSPY NJO

"QQSPY NJO

"QQSPY NJO

"QQSPY NJO

"QQSPY NJO "QQSPY NJO

"QQSPY NJO "QQSPY NJO

"QQSPY NJO "QQSPY NJO

"QQSPY NJO "QQSPY NJO

"QQSPY NJO "QQSPY NJO

"QQSPY NJO "QQSPY NJO

"QQSPY NJO

"QQSPY NJO

"QQSPY NJO

"QQSPY NJO

"QQSPY NJO

"QQSPY NJO

"QQSPY NJO "QQSPY NJO "QQSPY NJO

"QQSPY NJO "QQSPY NJO "QQSPY NJO

"QQSPY NJO "QQSPY NJO "QQSPY NJO

"QQSPY NJO "QQSPY NJO "QQSPY NJO

"QQSPY NJO "QQSPY NJO "QQSPY NJO

"QQSPY NJO "QQSPY NJO "QQSPY NJO

(#

(#

"QQSPY "QQSPY "QQSPY "QQSPY "QQSPY "QQSPY

"QQSPY "QQSPY "QQSPY "QQSPY "QQSPY "QQSPY

3FDPSEBCMF OVNCFS PG QIPUP JNBHFT 1IPUP SFTPMVUJPO Y Y Y Y Y Y

(#

(#

"QQSPY "QQSPY "QQSPY "QQSPY "QQSPY "QQSPY

"QQSPY "QQSPY "QQSPY "QQSPY "QQSPY "QQSPY

4UPSBHF NFEJB $BQBDJUZ

(# (# "QQSPY "QQSPY "QQSPY "QQSPY "QQSPY "QQSPY

"QQSPY "QQSPY "QQSPY "QQSPY "QQSPY "QQSPY

t 5IF BCPWF GJHVSFT BSF NFBTVSFE VOEFS 4BNTVOH T TUBOEBSE SFDPSEJOH UFTU DPOEJUJPOT BOE NBZ EJGGFS EFQFOEJOH PO BDUVBM VTF t 5IF IJHIFS UIF SFTPMVUJPO BOE RVBMJUZ TFUUJOHT UIF NPSF NFNPSZ JT VTFE t 5IF DPNQSFTTJPO SBUF JODSFBTFT XIFO DIPPTJOH MPXFS SFTPMVUJPO BOE RVBMJUZ TFUUJOHT 5IF IJHIFS UIF DPNQSFTTJPO SBUF JT UIF MPOHFS UIF SFDPSEJOH UJNF XJMM CF )PXFWFS UIF JNBHF SFTPMVUJPO BOE RVBMJUZ XJMM CF MPXFS t 5IF CJU SBUF BVUPNBUJDBMMZ BEKVTUT UP UIF SFDPSEJOH JNBHF BOE UIF SFDPSEJOH UJNF NBZ WBSZ BDDPSEJOHMZ t .FNPSZ DBSET PG CJHHFS UIBO (# JO DBQBDJUZ NBZ OPU XPSL QSPQFSMZ t 5IF NBYJNVN TJ[F PG B NPWJF GJMF UIBU DBO CF SFDPSEFE BU POF UJNF JT (# t 5P DIFDL UIF SFNBJOJOH NFNPSZ DBQBDJUZ QSFTT UIF %JTQMBZ L$)&$, CVUUPO ¬ QBHF t 5IF NBYJNVN BWBJMBCMF SFDPSEJOH UJNF EJTQMBZFE JT NJOVUFT BOE UIF NBYJNVN OVNCFS PG SFDPSEBCMF JNBHFT EJTQMBZFE JT

@ &OHMJTI

4&-&$5*/( " 46*5"#-& .&.03: $"3% t :PV DBO VTF B 4%)$ NFNPSZ DBSE BOE ..$QMVT DBSET :PV DBO BMTP VTF B 4% NFNPSZ DBSE CVU JU JT SFDPNNFOEFE UIBU ZPV VTF B 4%)$ NFNPSZ DBSE BOE ..$QMVT XJUI ZPVS )% DBNDPSEFS 4% DBSE TVQQPSUT VQUP (#

t .VMUJ.FEJB$BSET ..$ BSF OPU TVQQPSUFE t 0O UIJT )% DBNDPSEFS ZPV DBO VTF NFNPSZ DBSET PG UIF GPMMPXJOH DBQBDJUZ .# _ (# t $PNQBUJCMF SFDPSEJOH NFEJB 5IF GPMMPXJOH SFDPSEJOH NFEJB IBWF CFFO HVBSBOUFFE UP XPSL XJUI UIJT )% DBNDPSEFS 0UIFST BSF OPU HVBSBOUFFE UP XPSL TP CVZ TVDI QSPEVDUT XJUI DBVUJPO 4%)$ NFNPSZ DBSET #Z 1BOBTPOJD 4BO%JTL BOE 504)*#" ..$QMVT #Z 5SBOTDFOE t *G PUIFS NFEJB BSF VTFE UIFZ NBZ GBJM UP SFDPSE EBUB DPSSFDUMZ PS UIFZ NBZ MPTF EBUB UIBU IBT BMSFBEZ CFFO SFDPSEFE t 'PS NPWJF SFDPSEJOH VTF B NFNPSZ DBSE UIBU TVQQPSUT GBTUFS XSJUF TQFFET BU MFBTU .# T

4%)$ 4FDVSF %JHJUBM )JHI $BQBDJUZ NFNPSZ DBSE t 4%)$ NFNPSZ DBSE DPNQMJFT XJUI UIF OFX 4% TQFDJGJDBUJPO 7FS 5IJT MBUFTU TQFDJGJDBUJPO XBT FTUBCMJTIFE CZ UIF 4% $BSE "TTPDJBUJPO UP SFBMJ[F EBUB DBQBDJUZ PWFS (# t 4%)$ NFNPSZ DBSET IBWF B NFDIBOJDBM XSJUF QSPUFDUJPO TXJUDI 4FUUJOH UIF TXJUDI QSFWFOUT BDDJEFOUBM FSBTVSF PG GJMFT SFDPSEFE PO UIF DBSE 5P FOBCMF XSJUJOH NPWF UIF TXJUDI VQ JO UIF EJSFDUJPO PG UIF UFSNJOBMT 5P TFU XSJUF QSPUFDUJPO NPWF UIF TXJUDI EPXO t 4%)$ NFNPSZ DBSET DBO OPU CF VTFE XJUI DVSSFOU 4% FOBCMFE IPTU EFWJDFT ..$QMVT .VMUJ .FEJB $BSE QMVT

t ..$ DBSET IBWF OP QSPUFDUJPO UBC TP QMFBTF VTF UIF QSPUFDU GVODUJPO JO UIF NFOV ¬QBHF

00&SOXV!

7HUPLQDOV

3URWHFWLRQ

6'+& PHPRU\ FDUG! WDE

8VDEOH PHPRU\ FDUGV!

&OHMJTI @

CFGPSF SFDPSEJOH $PNNPO DBVUJPOT GPS NFNPSZ DBSET t %BNBHFE EBUB NBZ OPU CF SFDPWFSFE *U JT SFDPNNFOEFE ZPV CBDL VQ JNQPSUBOU SFDPSEJOHT TFQBSBUFMZ PO ZPVS 1$ T IBSE EJTL t "GUFS ZPV NPEJGZ UIF OBNF PG B GJMF PS GPMEFS TUPSFE JO UIF NFNPSZ DBSE VTJOH ZPVS 1$ ZPVS DBNDPSEFS NBZ OPU SFDPHOJTF UIF NPEJGJFE GJMF )BOEMJOH B NFNPSZ DBSE t *U JT SFDPNNFOEFE UIBU ZPV QPXFS PGG CFGPSF JOTFSUJOH PS SFNPWJOH UIF NFNPSZ DBSE UP BWPJE EBUB MPTT t *U JT OPU HVBSBOUFFE UIBU ZPV DBO VTF B NFNPSZ DBSE GPSNBUUFE CZ PUIFS EFWJDFT #F TVSF UP GPSNBU ZPVS NFNPSZ DBSE VTJOH UIJT DBNDPSEFS t .FNPSZ DBSET OFFE UP CF GPSNBUUFE PO UIJT DBNDPSEFS CFGPSF VTF t *G ZPV DBOOPU VTF B NFNPSZ DBSE UIBU IBT CFFO QSFWJPVTMZ VTFE XJUI BOPUIFS EFWJDF GPSNBU JU PO ZPVS )% DBNDPSEFS /PUF UIBU GPSNBUUJOH FSBTFT BMM JOGPSNBUJPO PO UIF NFNPSZ DBSE t " NFNPSZ DBSE IBT B DFSUBJO MJGF TQBO *G ZPV DBOOPU SFDPSE OFX EBUB ZPV IBWF UP QVSDIBTF B OFX NFNPSZ DBSE t %P OPU CFOE ESPQ PS DBVTF B TUSPOH JNQBDU UP ZPVS NFNPSZ DBSE t %P OPU VTF PS TUPSF JO B QMBDF UIBU IBT IJHI UFNQFSBUVSF BOE IVNJEJUZ PS B EVTUZ FOWJSPONFOU t %P OPU QMBDF GPSFJHO TVCTUBODFT PO UIF NFNPSZ DBSE UFSNJOBMT 6TF B TPGU ESZ DMPUI UP DMFBO UIF UFSNJOBMT JG SFRVJSFE t %P OPU QVU BOZ BEEJUJPOBM MBCFMT PO UIF NFNPSZ DBSE t #F DBSFGVM UP LFFQ NFNPSZ DBSE PVU PG UIF SFBDI PG DIJMESFO XIP NJHIU TXBMMPX JU /PUF PO VTF t 4BNTVOH JT OPU SFTQPOTJCMF GPS EBUB MPTT EVF UP NJTVTF t 8F SFDPNNFOE VTJOH B NFNPSZ DBSE DBTF UP BWPJE MPTJOH EBUB GSPN NPWJOH BOE TUBUJD FMFDUSJDJUZ t "GUFS B QFSJPE PG VTF UIF NFNPSZ DBSE NBZ HFU XBSN 5IJT JT OPSNBM BOE JT OPU B NBMGVODUJPO

@ &OHMJTI

SFDPSEJOH #BTJD QSPDFEVSFT UP SFDPSE B NPWJF PS QIPUP JNBHF BSF EFTDSJCFE CFMPX BOE PO UIF GPMMPXJOH QBHFT

3&$03%*/( .07*& *."(&4 t :PV DBO SFDPSE NPWJF JNBHFT JO .PWJF NPEF POMZ ¬QBHF t 5IJT )% DBNDPSEFS QSPWJEFT UXP 3FDPSEJOH TUBSU TUPQ CVUUPOT 0OF JT PO UIF SFBS TJEF PG UIF DBNDPSEFS BOE UIF PUIFS JT PO UIF -$% QBOFM 4FMFDU UIF 3FDPSEJOH TUBSU TUPQ CVUUPO UIBU XPSLT CFTU GPS ZPV 5VSO UIF )% DBNDPSEFS PO t $POOFDU B QPXFS TPVSDF UP UIF )% DBNDPSEFS " CBUUFSZ QBDL PS BO "$ QPXFS BEBQUPS ¬QBHFT t 4MJEF UIF 108&3 TXJUDI EPXOXBSE UP UVSO UIF )% DBNDPSEFS PO 5IF MFOT PQFOT BVUPNBUJDBMMZ XJUI )% DBNDPSEFS PO t 4FU UIF BQQSPQSJBUF TUPSBHF NFEJB ¬QBHF *G ZPV XBOU UP SFDPSE PO B NFNPSZ DBSE JOTFSU UIF NFNPSZ DBSE

$IFDL UIF TVCKFDU PO UIF -$% TDSFFO 1SFTT UIF 3FDPSEJOH TUBSU TUPQ CVUUPO t 5IF SFDPSEJOH z JOEJDBUPS XJMM EJTQMBZ BOE SFDPSEJOH XJMM TUBSU t &BDI UPVDI PG .VUF UBC PO UIF -$% TDSFFO UPHHMFT .VUF PO BOE PGG

.PWJF JNBHFT BSF SFDPSEFE XJUI WPJDF

.PWJF JNBHFT BSF SFDPSEFE XJUIPVU WPJDF t 5P TUPQ SFDPSEJOH QSFTT UIF 3FDPSEJOH TUBSU TUPQ CVUUPO BHBJO 8IFO SFDPSEJOH JT GJOJTIFE UVSO UIF )% DBNDPSEFS PGG

Q > 0LQ@

0LQ

Q > 0LQ@

0LQ

&OHMJTI @

SFDPSEJOH t .PWJF JNBHFT BSF DPNQSFTTFE JO ) .1&( "7$ GPSNBU t &KFDU UIF CBUUFSZ QBDL XIFO ZPV IBWF GJOJTIFE SFDPSEJOH UP QSFWFOU VOOFDFTTBSZ CBUUFSZ QPXFS DPOTVNQUJPO t 'PS PO TDSFFO JOGPSNBUJPO EJTQMBZ TFF QBHF t 'PS BQQSPYJNBUF SFDPSEJOH UJNF TFF QBHF t :PV DBO SFDPSE NPWJF JNBHFT VTJOH UIF SFNPUF DPOUSPM t 4PVOE JT SFDPSEFE GSPN UIF JOUFSOBM TUFSFP NJDSPQIPOF BU UIF CPUUPN PG UIF MFOT .BLF TVSF UIBU UIJT NJDSPQIPOF JT OPU CMPDLFE t #FGPSF SFDPSEJOH BO JNQPSUBOU NPWJF NBLF TVSF UP UFTU UIF SFDPSEJOH GVODUJPO CZ DIFDLJOH JG UIFSF JT BOZ QSPCMFN XJUI UIF BVEJP BOE WJEFP SFDPSEJOH t 'PS WBSJPVT GVODUJPOT BWBJMBCMF EVSJOH SFDPSEJOH TFF i3&$03%*/( .&/6 *5&.4w PO QBHFT t %P OPU PQFSBUF UIF QPXFS TXJUDI PS SFNPWF UIF NFNPSZ DBSE XIJMF BDDFTTJOH UIF TUPSBHF NFEJB %PJOH TP NBZ EBNBHF UIF TUPSBHF NFEJB PS UIF EBUB PO TUPSBHF NFEJB t *G UIF QPXFS DBCMF CBUUFSZ JT EJTDPOOFDUFE PS SFDPSEJOH JT EJTBCMFE EVSJOH SFDPSEJOH UIF TZTUFN JT TXJUDIFE UP UIF EBUB SFDPWFSZ NPEF 8IJMF EBUB JT CFJOH SFDPWFSFE OP PUIFS GVODUJPO JT FOBCMFE "GUFS EBUB SFDPWFSZ UIF TZTUFN XJMM CF TXJUDIFE UP UIF 45#: NPEF 8IFO UIF SFDPSEJOH UJNF JT TIPSU UIF EBUB NBZ GBJM UP CF SFDPWFSFE t .FOV UBC JT OPU BWBJMBCMF EVSJOH SFDPSEJOH t :PV DBO TFMFDU UIF SFTPMVUJPO PG NPWJF JNBHF UP CF SFDPSEFE ¬QBHF t 8IBU T UIF <4%> 4MPX .PUJPO :PV DBO SFDPSE NPWJF JNBHFT BT B TMPX NPUJPO i<4%> 4MPX .PUJPOw JT HSFBU GPS BOBMZ[JOH B HPMG TXJOH PS B WJFXJOH B CJSE JO GMJHIU 8IFO SFDPSEJOH JO TMPX NPUJPO UIF SFDPSEJOH TUPQT BGUFS TFDPOET CVU XIFO ZPV QMBZCBDL UIF TBNF SFDPSEJOH JU QMBZT CBDL GPS TFDPOET 3FDPSEJOH XJMM TUPQ BGUFS TFDPOET FWFO JG UIF 3FDPSEJOH TUBSU TUPQ CVUUPO JT QSFTTFE UP TUPQ 7PJDF JT OPU SFDPSEFE XIJMF SFDPSEJOH JO 4% 4MPX .PUJPO 8IJMF SFDPSEJOH JO <4%> 4MPX .PUJPO SFDPSEJOH JNBHF JT OPU EJTQMBZFE PO UIF 57 TDSFFO

@ &OHMJTI

5",*/( 1)050 *."(&4 :PV DBO UBLF QIPUP JNBHFT JO 1IPUP NPEF POMZ ¬QBHF 4MJEF UIF 108&3 TXJUDI EPXOXBSE UP UVSO PO UIF QPXFS BOE QSFTT UIF .0%& CVUUPO UP TFU 1IPUP ¬QBHF t 5IF MFOT PQFOT BVUPNBUJDBMMZ XJUI )% DBNDPSEFS PO t 4FU UIF BQQSPQSJBUF TUPSBHF NFEJB ¬QBHF *G ZPV XBOU UP SFDPSE PO B NFNPSZ DBSE JOTFSU UIF NFNPSZ DBSE

$IFDL UIF TVCKFDU PO UIF -$% TDSFFO 1SFTT UIF 1)050 CVUUPO IBMGXBZ EPXO IBMG QSFTT

t 5IF )% DBNDPSEFS BVUPNBUJDBMMZ GPDVTFT PO UIF TVCKFDU BU UIF DFOUSF PG TDSFFO XIFO BVUP GPDVT JT TFMFDUFE ¬QBHF t 8IFO UIF JNBHF JT JO GPDVT UIF z JOEJDBUPS JT EJTQMBZFE JO HSFFO 1SFTT UIF 1)050 CVUUPO EPXO GVMMZ GVMM QSFTT

t " TIVUUFS TPVOE JT IFBSE 8IFO UIF fff JOEJDBUPS EJTBQQFBST UIF QIPUP JNBHF IBT CFFO SFDPSEFE t 8IJMF TBWJOH UIF QIPUP JNBHF PO UIF TUPSBHF NFEJB ZPV DBOOPU QSPDFFE XJUI UIF OFYU SFDPSEJOH t 5IF OVNCFS PG QIPUP JNBHFT UIBU DBO CF TUPSFE EFQFOET PO UIF JNBHF RVBMJUZ PS UIF JNBHF TJ[F 'PS EFUBJMT TFF QBHF t 5IF QIPUP JNBHF JT UBLFO POMZ JO UIF BTQFDU SBUJP BT TIPXO JO UIF SJHIU JMMVTUSBUJPO t "VEJP XJMM OPU CF SFDPSEFE XJUI UIF QIPUP JNBHF PO UIF TUPSBHF NFEJB t *G GPDVTTJOH JT EJGGJDVMU VTF UIF NBOVBM GPDVT GVODUJPO ¬QBHF t %P OPU PQFSBUF UIF 108&3 TXJUDI PS SFNPWF UIF NFNPSZ DBSE XIJMF BDDFTTJOH UIF TUPSBHF NFEJB %PJOH TP NBZ EBNBHF UIF TUPSBHF NFEJB PS UIF EBUB PO TUPSBHF NFEJB t 1IPUP JNBHF GJMFT SFDPSEFE CZ ZPVS )% DBNDPSEFS DPOGPSN UP UIF i%$' %FTJHO SVMF GPS $BNFSB 'JMF TZTUFN w VOJWFSTBM TUBOEBSE FTUBCMJTIFE CZ UIF +&*5" +BQBO &MFDUSPOJDT BOE *OGPSNBUJPO 5FDIOPMPHZ *OEVTUSJFT "TTPDJBUJPO

t %$' JT BO JOUFHSBUFE JNBHF GJMF GPSNBU GPS EJHJUBM DBNFSBT *NBHF GJMFT DBO CF VTFE PO BMM EJHJUBM EFWJDFT DPOGPSNJOH UP %$'

0(/4/

Q

ŹŹŹ

0LQ

0LQ

&OHMJTI @

SFDPSEJOH 3&$03%*/( 8*5) &"4& '03 #&(*//&34 &"4: 2 .0%&

t 5IF &"4: 2 GVODUJPO JT POMZ BWBJMBCMF XJUI UIF .PWJF BOE 1IPUP NPEFT ¬QBHF t 8JUI UIF &"4: 2 GVODUJPO NPTU PG UIF )% DBNDPSEFS TFUUJOHT BSF BVUPNBUJDBMMZ BEKVTUFE XIJDI GSFFT ZPV GSPN NBLJOH EFUBJMFE BEKVTUNFOUT 1SFTT UIF &"4: 2 CVUUPO t 8IFO ZPV QSFTT UIF &"4: 2 CVUUPO NPTU GVODUJPOT UVSO PGG BOE UIF GPMMPXJOH GVODUJPOT BSF TFU UP i"VUP w 4DFOF .PEF 8IJUF #BMBODF &YQPTVSF "OUJ 4IBLF 'PDVT 4IVUUFS FUD

BOE "OUJ TIBLF

JOEJDBUPST BQQFBS PO UIF TDSFFO BU UIF t 5IF &"4: 2 TBNF UJNF 5P SFDPSE NPWJF JNBHFT QSFTT UIF 3FDPSEJOH TUBSU TUPQ CVUUPO 5P UBLF QIPUP JNBHFT QSFTT UIF 1)050 CVUUPO 5P DBODFM &"4: 2 NPEF 1SFTT UIF &"4: 2 CVUUPO BHBJO

BOE "OUJ TIBLF

JOEJDBUPST EJTBQQFBS GSPN UIF TDSFFO t 5IF &"4: 2 t "MNPTU BMM UIF TFUUJOHT XJMM SFUVSO UP UIF TFUUJOHT UIBU XFSF TFU QSJPS UP BDUJWBUJOH &"4: 2 NPEF t #VUUPOT VOBWBJMBCMF EVSJOH &"4: 2 PQFSBUJPO 5IF GPMMPXJOH CVUUPOT BOE DPOUSPM BSF VOBWBJMBCMF CFDBVTF UIF JUFNT BSF BVUPNBUJDBMMZ TFU 5IF i3FMFBTF UIF &"4: 2w NFTTBHFT NBZ BQQFBS JG VOBWBJMBCMF PQFSBUJPOT BSF BUUFNQUFE .FOV UBC 2 .&/6 CVUUPO FUD &"4: 2 JT OPU BWBJMBCMF XIFO SFDPSEJOH XJUI TFU UP i%JHJUBM &GGFDU $JOFNB 5POF w 4FF QBHFT _ GPS UIF MJTU PG VOBWBJMBCMF GVODUJPOT t $BODFM &"4: 2 GVODUJPO JG ZPV XBOU UP BEE BOZ FGGFDU PS TFUUJOHT UP UIF JNBHFT t 3FDPSEJOH XJUI &"4: 2 NPEF JT OPU BWBJMBCMF JO <4%> 4MPX .PUJPO @ &OHMJTI

0LQ

67%< > 0LQ@

.PWJF SFDPSE NPEF

1IPUP SFDPSE NPEF

0LQ

$"1563*/( 45*-- *."(&4 %63*/( .07*& *."(& 3&$03%*/( %6"- 3&$03%*/(

t 5IJT GVODUJPO XPSLT POMZ JO .PWJF NPEF ¬QBHF t :PV DBO SFDPSE TUJMM JNBHFT PO UIF TUPSBHF NFEJB EVSJOH SFDPSEJOH NPWJF JNBHF 1SFTT UIF 3FDPSEJOH TUBSU TUPQ CVUUPO t 5IF SFDPSEJOH z JOEJDBUPS XJMM EJTQMBZ BOE SFDPSEJOH XJMM TUBSU 1SFTT UIF 1)050 CVUUPO BU UIF TDFOF ZPV XBOU EVSJOH NPWJF JNBHF SFDPSEJOH t 8IFO UIF fff JOEJDBUPS EJTBQQFBST UIF QIPUP JNBHF IBT CFFO SFDPSEFE t .PWJF JNBHFT BSF DPOUJOVPVTMZ SFDPSEFE FWFO XIJMF QIPUP JNBHFT BSF UBLFO t 5P TUPQ SFDPSEJOH QSFTT UIF 3FDPSEJOH TUBSU TUPQ CVUUPO BHBJO

0(/4/

fff > 0LQ@

0LQ

t 5IF TUJMM JNBHF SFTPMVUJPO JT BT GPMMPXT 8IFO SFDPSEJOH JO )% GPSNBU Y 8IFO SFDPSEJOH JO 4% GPSNBU Y 8IFO SFDPSEJOH JO 4% /PSNBM GPSNBU Y t :PV DBOOPU DBQUVSF QIPUPT XIJMF SFDPSEJOH XJUI <4%> 4MPX .PUJPO t :PV DBOOPU VTF UIF GMBTI EVSJOH EVBM SFDPSEJOH

&OHMJTI @

SFDPSEJOH $"1563*/( 45*-- *."(&4 %63*/( .07*& *."(&4 1-":#"$, t 5IJT GVODUJPO XPSLT POMZ JO 1MBZ NPEF ¬QBHF t *G ZPV QSFTT UIF 1)050 CVUUPO EVSJOH QMBZCBDL UIF DBNDPSEFS TUPQT QMBZJOH BOE TBWFT POF JNBHF PG UIF DVSSFOU NPWJF TDFOF UIBU JT QBVTFE t 4FU UIF BQQSPQSJBUF TUPSBHF NFEJB ¬QBHF *G ZPV XBOU UP SFDPSE PO B NFNPSZ DBSE JOTFSU UIF NFNPSZ DBSE

5PVDI )% .PWJF )% UBC PS 4% .PWJF 4% UBC t 5IF UIVNCOBJM JOEFY WJFX BQQFBST BDDPSEJOHMZ t 5P DIBOHF UIF DVSSFOU UIVNCOBJM QBHF UPVDI VQ 5PVDI UIF NPWJF JNBHF ZPV XBOU 1SFTT UIF 1)050 CVUUPO IBMGXBZ EPXO t 5IF QMBZCBDL TDSFFO JT QBVTFE 1SFTT UIF 1)050 CVUUPO GVMMZ EPXO t 5IF TUJMM JNBHF JT SFDPSEFE PO UIF TUPSBHF NFEJB

PS EPXO

UBC

t 3FTPMVUJPO PG UIF DBQUVSFE QIPUPT EJGGFST BDDPSEJOH UP UIF SFTPMVUJPO PG UIF SFDPSEFE NPWJF JNBHFT .PWJF JNBHFT SFDPSEFE JO )% SFTPMVUJPO <)%> Q <)%> J

Y .PWJF JNBHFT SFDPSEFE JO 4% SFTPMVUJPO <4%> Q Y .PWJF JNBHFT SFDPSEFE JO 4% OPSNBM RVBMJUZ 3FTPMVUJPO <4%> Q 2VBMJUZ /PSNBM Y .PWJF JNBHFT SFDPSEFE JO UIF SFTPMVUJPO PG <4%> 4MPX .PUJPO Y t 5IF NPWJF JNBHF JT DBQUVSFE BT B QIPUP JNBHF BU UIF TDSFFO SBUJPT )PXFWFS UIF NPWJF JNBHF SFDPSEFE JO 4% OPSNBM RVBMJUZ 3FTPMVUJPO <4%> Q 2VBMJUZ /PSNBM PS JO <4%> 4MPX .PUJPO NPEF JT DBQUVSFE BU UIF TDSFFO SBUJPT t 1IPUP JNBHFT BSF DPNQSFTTFE JO +1&( +PJOU 1IPUPHSBQIJD &YQFSUT (SPVQ GPSNBU

@ &OHMJTI

ŹOO

0LQ

0LQ

64*/( 5)& &95&3/"- .*$301)0/& $POOFDU FYUFSOBM NJDSPQIPOF PQUJPOBM VTFS QSPWJEFE UP UIF FYUFSOBM NJDSPQIPOF KBDL PG UIJT )% DBNDPSEFS GPS DMFBSFS BVEJP SFDPSEJOHT 5VSO PO UIF TXJUDI PO NJDSPQIPOF BOE TUBSU SFDPSEJOH t 5IJT )% DBNDPSEFS DBOOPU VTF B QMVH JO QPXFS UZQF NJDSPQIPOF QPXFS TVQQMJFE GSPN DBNDPSEFS

t 0OMZ B NJDSPQIPOF QMVH DBO CF DPOOFDUFE UP UIF )% DBNDPSEFS t 5IF i8JOE $VUw GVODUJPO JT OPU BWBJMBCMF XIFO VTJOH BO FYUFSOBM NJDSPQIPOF

7R H[WHUQDO PLFURSKRQH MDFN

;00.*/( 5IJT )% DBNDPSEFS BMMPXT ZPV UP SFDPSE VTJOH PQUJDBM Y QPXFS [PPN BOE EJHJUBM [PPN XJUI UIF ;PPN MFWFS PS UIF ;PPN CVUUPO PO UIF -$% QBOFM 5P [PPN JO 4MJEF UIF ;PPN MFWFS UPXBSET 5 UFMFQIPUP

0S QSFTT UIF 5 [PPN CVUUPO PO UIF -$% QBOFM

5P [PPN PVU 4MJEF UIF ;PPN MFWFS UPXBSET 8 XJEF BOHMF

0S QSFTT UIF 8 [PPN CVUUPO PO UIF -$% QBOFM

t 5IF GVSUIFS ZPV TMJEF UIF ;PPN MFWFS UIF RVJDLFS UIF [PPN BDUJPO t ;PPN NBHOJGJDBUJPO PWFS Y JT EPOF UISPVHI EJHJUBM JNBHF QSPDFTTJOH BOE JT UIFSFGPSF DBMMFE EJHJUBM [PPN :PV DBO BDIJFWF VQ UP Y NBHOJGJDBUJPO CZ VTJOH EJHJUBM [PPNJOH 4FU i%JHJUBM ;PPNw UP i0O w ¬QBHF

: :LGH DQJOH

7 7HOHSKRWR

67%< > 0LQ@

0LQ

t 5IF GPDVT DIBOHFT XIFO [PPNJOH BGUFS GPDVTTJOH NBOVBMMZ 'PDVT BVUPNBUJDBMMZ PS TFJ[F UIF EFTJSFE TDFOF CZ [PPNJOH CFGPSF GPDVTTJOH NBOVBMMZ ¬QBHF t %VSJOH EJHJUBM [PPN UIF JNBHF RVBMJUZ NBZ TVGGFS t 8IFO ZPV [PPN JOUP B TVCKFDU DMPTF UP UIF MFOT UIF )% DBNDPSEFS NBZ BVUPNBUJDBMMZ [PPN PVU EFQFOEJOH PO UIF EJTUBODF UP UIF TVCKFDU *O UIJT DBTF TFU i5FMF .BDSPw UP i0O w ¬QBHF t *G ZPV PQFSBUF UIF ;PPN 8 5 MFWFS EVSJOH SFDPSEJOH UIF TPVOE PG UIF MFWFS NBZ CF SFDPSEFE BT XFMM &OHMJTI @

SFDPSEJOH 4&-' 3&$03% 64*/( 5)& 3&.05& $0/530t 5IF 4&-' 5*.&3 GVODUJPO XPSLT POMZ JO .PWJF BOE 1IPUP NPEFT ¬QBHF t 8IFO ZPV VTF UIF 4&-' 5*.&3 GVODUJPO PO UIF SFNPUF DPOUSPM SFDPSEJOH CFHJOT BVUPNBUJDBMMZ JO TFDPOET 1SFTT UIF 4&-' 5*.&3 CVUUPO t 5IF JOEJDBUPS JT EJTQMBZFE 5P SFDPSE NPWJF JNBHFT QSFTT UIF 3&$ CVUUPO 5P UBLF QIPUP JNBHFT QSFTT UIF 1)050 CVUUPO t 4FMG UJNFS TUBSUT DPVOUJOH EPXO GSPN XJUI B CFFQ TPVOE t "U UIF MBTU TFDPOE PG UIF DPVOUEPXO SFDPSEJOH TUBSUT BVUPNBUJDBMMZ t *G ZPV XBOU UP DBODFM UIF TFMG UJNFS GVODUJPO CFGPSF SFDPSEJOH QSFTT UIF 4&-' 5*.&3 3&$ PS 1)050 CVUUPO BHBJO t %P OPU PCTUSVDU UIF SFNPUF DPOUSPM TFOTPS CZ QVUUJOH PCTUBDMFT CFUXFFO UIF SFNPUF DPOUSPM BOE )% DBNDPSEFS t 5IF SFNPUF DPOUSPM SBOHF JT UP N UP GU

t 5IF FGGFDUJWF SFNPUF DPOUSPM BOHMF JT VQ UP EFHSFFT MFGU SJHIU GSPN UIF DFOUSF MJOF t 6TJOH B USJQPE OPU TVQQMJFE JT SFDPNNFOEFE EVSJOH TFMG SFDPSE t :PV DBO BMTP PQFSBUF UIF i4FMG 5JNFSw JO UIF NFOV ¬QBHF t 5IF 4FMG 5JNFS GVODUJPO JT SFMFBTFE BGUFS CFJOH VTFE PODF

> 0LQ@

.PWJF SFDPSE NPEF

1IPUP SFDPSE NPEF

@ &OHMJTI

0LQ

0LQ

64*/( 5)& #6*-5 */ '-"4) t 5IJT GVODUJPO XPSLT POMZ JO 1IPUP NPEF ¬QBHF t :PV DBO UBLF OBUVSBM MPPLJOH GMBTI QIPUP JNBHFT XJUI BQQSPQSJBUF JMMVNJOBUJPO VTJOH UIF CVJMU JO GMBTI XIFUIFS UIFZ BSF OJHIU TDFOFT JOEPPST PS JO PUIFS EBSL QMBDFT 1SFTT UIF 'MBTI CVUUPO t &BDI UJNF ZPV QSFTT UIF 'MBTI CVUUPO GMBTI NPEF JT DIBOHFE UP "VUP 3FE FZF 'JMM JO 4MPX TZOD PS 0GG

t 5IF CVJMU JO GMBTI PQFOT BOE PQFSBUFT EVSJOH SFDPSEJOH BDDPSEJOH UP UIF TFU GMBTI NPEF 5P DMPTF UIF CVJMU JO GMBTI BGUFS VTF QVTI BOE DMPTF JU MJHIUMZ XJUI ZPVS GJOHFS

CVJMU JO GMBTI

'MBTI NPEF 4FUUJOHT 0GG "VUP 3FE FZF 'JMM JO 4MPX TZOD

8"3/*/(

$POUFOUT

0O TDSFFO EJTQMBZ

%JTBCMFT UIF GVODUJPO 5IF GMBTI DPNFT PO EFQFOEJOH PO UIF CSJHIUOFTT PG UIF TVCKFDU 5IF GMBTI QSFGJSFT BVUPNBUJDBMMZ CFGPSF UIF NBJO GJSJOH UP SFEVDF SFE FZF 5IF GMBTI DPNFT PO SFHBSEMFTT PG UIF CSJHIUOFTT PG UIF TVCKFDU 5IF TIVUUFS TQFFE JT TFU UP TMPX BOE UIF GMBTI GJSFT BU UIF BEKVTUFE TIVUUFS TQFFE 6TF UP DBQUVSF CPUI TVCKFDU BOE CBDLHSPVOE BU OJHIU PS JO EJN MJHIU 6TF PG B USJQPE OPU TVQQMJFE JT SFDPNNFOEFE UP QSFWFOU B CMVSSFE QIPUP JNBHF 4MPX TZOD GMBTI NPEF BMMPXT UIF VTFS UP UBLF CSJHIUFS CBDLHSPVOE BT XFMM BT CSJHIUFS TVCKFDU BU OJHIU

t %P OPU GJSF UIF GMBTI XJUI UIF GMBTI CVMC DPWFSFE XJUI ZPVS IBOE t %P OPU GJSF UIF GMBTI DMPTF UP QFPQMF T FZFT

t t t t t

8IFO 3FE FZF SFEVDUJPO BVUP JT TFU UIF GMBTI GJSFT UJNFT UP QFSGPSN SFE FZF SFEVDUJPO EVSJOH TFDPOET 5IF FGGFDUJWF GMBTI SBOHF JT _ GFFU 5IF CBUUFSZ QPXFS XJMM CF DPOTVNFE GBTUFS XJUI SFQFBUFE VTF PG UIF GMBTI 1VCMJD QMBDFT TVDI BT NVTFVNT NBZ QSPIJCJU GMBTI VTF 5IF GMBTI GVODUJPO JT OPU BWBJMBCMF BT GPMMPXJOH GVODUJPOT i$POU 4IPU w i"OUJ 4IBLF &*4 w i&"4: 2 w i&YQPTVSF .BOVBM w

&OHMJTI @

QMBZCBDL :PV DBO WJFX SFDPSEFE NPWJF BOE QIPUP JNBHFT JO UIVNCOBJM JOEFY WJFX BOE QMBZ UIFN JO WBSJPVT XBZT

$)"/(*/( 5)& 1-":#"$, .0%& t t t t

:PV DBO TFU UIF NPWJF SFDPSEJOH UIF QIPUP SFDPSEJOH BOE UIF QMBZ NPEF JO UVSO XJUI UIF .0%& CVUUPO :PV DBO TXJUDI UIF QMBZ NPEF UP UIF SFDPSEJOH NPEF JO UVSO CZ UPVDIJOH UIF UBC PO UIF MPXFS MFGU PG UIF -$% TDSFFO 5IF SFDPSEFE NPWJF BOE QIPUP JNBHFT BSF EJTQMBZFE JO UIVNCOBJM JOEFY WJFX "DDPSEJOH UP UIF SFTPMVUJPO NPWJF JNBHFT BSF TUPSFE JO )% BOE 4% UIVNCOBJM JOEFY WJFX SFTQFDUJWFMZ 8IFO TXJUDIJOH UP UIF QMBZ NPEF BGUFS SFDPSEJOH XJUI )% SFTPMVUJPO )% UIVNCOBJM JOEFY WJFX BQQFBST 8IFO TXJUDIJOH UP UIF QMBZ NPEF BGUFS SFDPSEJOH XJUI 4% SFTPMVUJPO 4% UIVNCOBJM JOEFY WJFX BQQFBST 67%< > 0LQ@

0LQ

0LQ

.0%&

.PWJF SFDPSE NPEF

)%

4%

1IPUP SFDPSE NPEF

0LQ

)%

)%

4%

PS

.PWJF QMBZ NPEF

@ &OHMJTI

4%

1IPUP QMBZ NPEF

0LQ

1-":*/( .07*& *."(&4 t t t

5IJT GVODUJPO XPSLT POMZ JO 1MBZ NPEF ¬QBHF :PV DBO GJOE B EFTJSFE NPWJF JNBHF RVJDLMZ VTJOH UIVNCOBJM JOEFY WJFXT :PV DBO BMTP VTF UIF QMBZCBDL SFMBUFE CVUUPOT PO UIF SFNPUF DPOUSPM ¬QBHF 4MJEF UIF 108&3 TXJUDI EPXOXBSE UP UVSO PO UIF QPXFS BOE QSFTT UIF .0%& CVUUPO

UP TFU 1MBZ t 4FU UIF BQQSPQSJBUF TUPSBHF NFEJB ¬QBHF *G ZPV XBOU UP QMBZ GSPN B NFNPSZ DBSE JOTFSU UIF NFNPSZ DBSE

5PVDI )% .PWJF )% UBC PS 4% .PWJF 4% UBC t 5IF UIVNCOBJM JOEFY WJFX BQQFBST BDDPSEJOHMZ t 5P DIBOHF UIF DVSSFOU UIVNCOBJM QBHF UPVDI VQ PS EPXO UBC 5PVDI B EFTJSFE NPWJF JNBHF t 5IF TFMFDUFE NPWJF JNBHF JT QMBZFE BDDPSEJOH UP 1MBZ 0QUJPO TFUUJOH ¬QBHF t 5P TUPQ QMBZCBDL BOE SFUVSO UP UIVNCOBJM JOEFY WJFX UPVDI 3FUVSO UBC t 5IF QMBZ SFMBUFE UBCT EJTBQQFBS PO UIF TDSFFO B GFX TFDPOET BGUFS UIF JNBHF QMBZT CBDL 5IFZ SFBQQFBS XIFO ZPV UPVDI BOZ QPJOU PO UIF TDSFFO t %FQFOEJOH PO UIF BNPVOU PG EBUB UP CF QMBZFE CBDL JU NBZ UBLF TPNF UJNF GPS UIF QMBZCBDL JNBHFT UP BQQFBS t .PWJFT FEJUFE PO B 1$ NBZ OPU CF EJTQMBZFE PO UIJT )% DBNDPSEFS t .PWJFT SFDPSEFE PO BOPUIFS DBNDPSEFS DBOOPU CF QMBZFE PO UIJT )% DBNDPSEFS

)%

0LQ

4%

"EKVTUJOH UIF WPMVNF t 5PVDI 7PMVNF UBC PO UIF -$% TDSFFO :PV DBO DPOUSPM UIF WPMVNF CZ VTJOH EFDSFBTF PS JODSFBTF UBC PO UIF -$% TDSFFO 5IF MFWFM DBO CF BEKVTUFE BOZXIFSF CFUXFFO BOE :PV DBO QFSGPSN UIF TBNF PQFSBUJPO CZ VTJOH UIF SFNPUF DPOUSPM

0LQ

0LQ

t :PV DBO IFBS UIF SFDPSEFE TPVOE GSPN UIF CVJMU JO TQFBLFS t *G ZPV DMPTF UIF -$% TDSFFO XIJMF QMBZJOH ZPV XJMM OPU IFBS UIF TPVOE GSPN UIF TQFBLFS

&OHMJTI @

QMBZCBDL 7BSJPVT QMBZCBDL PQFSBUJPOT 1MBZCBDL 1BVTF 4UPQ t 1MBZ BOE 1BVTF GVODUJPOT BMUFSOBUF XIFO ZPV UPVDI 1MBZCBDL 1BVTF EVSJOH QMBZCBDL 5PVDI 3FUVSO UBC UP TUPQ QMBZCBDL t :PV DBO QFSGPSN UIF TBNF PQFSBUJPO CZ VTJOH UIF SFNPUF DPOUSPM

UBC

0LQ

4FBSDI QMBZCBDL t %VSJOH QMBZCBDL FBDI UPVDI PG 3FWFSTF TFBSDI 'PSXBSE TFBSDI UBC JODSFBTFT UIF QMBZ TQFFE 314 3FWFSTF 1MBZCBDL 4FBSDI SBUF Y Y Y Y Y Y '14 'PSXBSE 1MBZCBDL 4FBSDI SBUF Y Y Y Y Y Y t :PV DBO QFSGPSN UIF TBNF PQFSBUJPO CZ VTJOH UIF SFNPUF DPOUSPM

t 5P SFTVNF OPSNBM QMBZCBDL UPVDI UIF 1MBZCBDL UBC PS QSFTT 1MBZCBDL 1BVTF CVUUPO PO UIF SFNPUF DPOUSPM 4LJQ QMBZCBDL t 5PVDI 3FWFSTF TLJQ 'PSXBSE TLJQ UBC EVSJOH QMBZCBDL 8IFO QMBZJOH UIF TFMFDUFE NPWJF JG ZPV UPVDI 'PSXBSE TLJQ UBC JU NPWFT UP UIF OFYU NPWJF *G ZPV UPVDI 3FWFSTF TLJQ JU NPWFT UP UIF CFHJOOJOH PG UIF NPWJF *G ZPV UPVDI 3FWFSTF TLJQ XJUIJO TFDPOET GSPN UIF TUBSU PG B NPWJF JU NPWFT UP UIF CFHJOOJOH PG UIF QSFWJPVT NPWJF t :PV DBO QFSGPSN UIF TBNF PQFSBUJPO CZ VTJOH UIF SFNPUF DPOUSPM

4MPX QMBZCBDL t 5PVDIJOH UIF 'PSXBSE TMPX UBC XIJMF QBVTFE XJMM QMBZ UIF NPWJF GPSXBSE BU UIF Y Y BOE Y TQFFE t :PV DBO QMBZ UIF NPWJF BU UIF Y Y BOE Y TQFFE CZ VTJOH UIF 4MPX CVUUPO PO UIF SFNPUF DPOUSPM t 5P SFTVNF OPSNBM QMBZCBDL UPVDI 1MBZCBDL UBC PS QSFTT UIF 1MBZCBDL 1BVTF CVUUPO PO UIF SFNPUF DPOUSPM 'SBNF CZ GSBNF QMBZCBDL t %VSJOH QBVTF QSFTT UIF 'PSXBSE CVUUPO PO UIF SFNPUF DPOUSPM UP CFHJO UIF GPSXBSE GSBNF BEWBODF t 5P SFTVNF OPSNBM QMBZCBDL QSFTT UIF 1MBZCBDL 1BVTF CVUUPO 0S UPVDI 1MBZCBDL UBC PO UIF TDSFFO

@ &OHMJTI

7*&8*/( 1)050 *."(&4 t 5IJT GVODUJPO XPSLT POMZ JO 1MBZ NPEF ¬QBHF t :PV DBO QMBZ CBDL BOE WJFX QIPUP JNBHFT SFDPSEFE PO UIF TUPSBHF NFEJB 4MJEF UIF 108&3 TXJUDI EPXOXBSE UP UVSO PO UIF QPXFS BOE QSFTT UIF .0%& CVUUPO UP TFU 1MBZ

t 4FU UIF BQQSPQSJBUF TUPSBHF NFEJB ¬QBHF *G ZPV XBOU UP QMBZCBDL JNBHFT PO B NFNPSZ DBSE JOTFSU UIF NFNPSZ DBSE

5PVDI 1IPUP

UBC t 5IF UIVNCOBJM JOEFY WJFX BQQFBST t 5P DIBOHF UIF DVSSFOU UIVNCOBJM QBHF UPVDI VQ

PS EPXO

UBC 5PVDI B EFTJSFE QIPUP JNBHF 5PVDI QSFWJPVT JNBHF

OFYU JNBHF

UBC TFBSDI GPS UIF EFTJSFE QIPUP JNBHF t 5P WJFX UIF QSFWJPVT JNBHF UPVDI QSFWJPVT JNBHF

UBC t 5P WJFX UIF OFYU JNBHF UPVDI OFYU JNBHF

UBC t 4MJEF ZPVS GJOHFS UP UIF MFGU PS SJHIU UP TFMFDU UIF QSFWJPVT JNBHF PO UIF -$% TDSFFO SFWFSTF UP TFMFDU UIF OFYU JNBHF t 1MBDF BOE IPME ZPVS GJOHFS PO UIF QSFWJPVT JNBHF

OFYU JNBHF

UBC UP TFBSDI GPS BO JNBHF RVJDLMZ 5IF JNBHF OVNCFS JT DIBOHFE EVSJOH TFBSDI XIJMF UIF JNBHF JT OPU DIBOHFE 5P SFUVSO UP UIF UIVNCOBJM JOEFY WJFX UPVDI 3FUVSO

UBC t t t

)%

0LQ

4%

0LQ

0LQ

5IF QMBZ SFMBUFE UBCT EJTBQQFBS PO UIF TDSFFO B GFX TFDPOET BGUFS QMBZ TUBSUT 5IFZ SFBQQFBS XIFO ZPV UPVDI BOZ QPJOU PO UIF TDSFFO -PBEJOH UJNF NBZ WBSZ EFQFOEJOH PO UIF JNBHF TJ[F 1IPUP +1&( GJMFT DSFBUFE PO PUIFS EFWJDFT DBOOPU CF QMBZFE CBDL PO UIJT )% DBNDPSEFS

5P WJFX B .VTJD TMJEF TIPX :PV DBO FOKPZ B TMJEF TIPX XJUI UIF CBDLHSPVOE NVTJD $IFDL XIFUIFS UIF NVTJD GJMF PG . " GPSN JT TUPSFE JO UIF .64*$ GPMEFS JO UIF TFMFDUFE TUPSBHF NFEJB ¬QBHF 5PVDI .FOV

UBC JO UIF UIVNCOBJM JOEFY WJFX PS TJOHMF JNBHF EJTQMBZ NPEF t 5IF NFOV XJMM BQQFBS 5PVDI i.VTJD 4MJEF 4IPX w t 5IF JOEJDBUPS JT EJTQMBZFE 4MJEF TIPX TUBSUT GSPN UIF DVSSFOU JNBHF XJUI UIF CBDLHSPVOE NVTJD t "MM QIPUP JNBHFT QMBZ CBDL DPOUJOVPVTMZ JO UIF TFU TMJEF TIPX JOUFSWBM ¬QBHF t 5P TUPQ UIF TMJEF TIPX UPVDI 3FUVSO

UBC t 5PVDIJOH UIF -$% TDSFFO UPHHMFT BQQFBSBODF PG UIF QMBZ SFMBUFE UBCT

.VTJD TMJEF TIPX

&OHMJTI @

QMBZCBDL t .VTJD TMJEF TIPX JT BWBJMBCMF BMTP JO UIF RVJDL NFOV ¬QBHF t )% DBNDPSEFS QSPWJEFT CBDLHSPVOE NVTJD GJMFT GSPN JUT CVJMU JO NFNPSZ BT B CBTJD PGGFS PO ZPVS QVSDIBTF 8IFO ZPV EJTQMBZ TBWFE QIPUPT GSPN UIF CVJMU JO NFNPSZ BT .VTJD 4MJEF 4IPX UIF TBWFE CBDLHSPVOE NVTJD GJMFT 40/( . " XJMM CF QMBZFE BVUPNBUJDBMMZ t :PV DBO TFF UIF TBWFE QIPUPT JO UIF NFNPSZ DBSE BMPOH XJUI UIF CBDLHSPVOE NVTJD BT 4MJEF 4IPX #FGPSF VTF ZPV NVTU GPSNBU UIF NFNPSZ DBSE JO )% DBNDPSEFS 5IF GPSNBUUFE NFNPSZ DBSE BVUPNBUJDBMMZ DSFBUFT CBDLHSPVOE NVTJD GJMFT t :PV DBO QMBZ POMZ BO . " GJMF POMZ BT CBDLHSPVOE NVTJD PG UIF .VTJD 4MJEF 4IPX "MUIPVHI ZPVS .64*$ GPMEFS IBT TFWFSBM NVTJD GJMFT ZPV DBO QMBZ POMZ POF GJMF A40/( . "

t *G ZPV XBOU UP QMBZ ZPVS PXO DIPJDF PG NVTJD EVSJOH UIF .VTJD 4MJEF 4IPX ZPV OFFE UP SFOBNF ZPVS GJMF UP A40/( . " t 7PMVNF DPOUSPM JT OPU BWBJMBCMF EVSJOH NVTJD TMJEF TIPX

;PPNJOH EVSJOH QMBZCBDL :PV DBO NBHOJGZ UIF QMBZCBDL QIPUP JNBHF GSPN UIF PSJHJOBM TJ[F .BHOJGJDBUJPO DBO CF BEKVTUFE XJUI UIF ;PPN MFWFS PS UIF ;PPN CVUUPO PO -$% QBOFM 5PVDI UIF JNBHF ZPV XBOU UP NBHOJGZ "EKVTU UIF NBHOJGJDBUJPO XJUI 8 8JEF BOHMF 5 5FMFQIPUP

t 5IF TDSFFO JT GSBNFE BOE UIF JNBHF JT NBHOJGJFE TUBSUJOH GSPN UIF DFOUSF PG JNBHF t :PV DBO [PPN JO CZ TMJEJOH UIF ;PPN MFWFS t 8IJMF UIF QMBZCBDL [PPN JT JO VTF ZPV DBOOPU TFMFDU BOZ QSFWJPVT OFYU JNBHF 5PVDI UIF VQ EPXO PG UIF TDSFFO 5P DBODFM UPVDI 3FUVSO

MFGU SJHIU UBC UP HFU UIF QBSU ZPV XBOU JO UIF DFOUSF

)%

0LQ

UBC ;

t 5IJT DBNDPSEFS DBO OPU QMBZCBDL QIPUPT SFDPSEFE PO PUIFS EFWJDFT BOZXBZ t 1MBZCBDL [PPN GVODUJPO JT BWBJMBCMF POMZ JO UIF QIPUP QMBZ NPEF

@ &OHMJTI

4%

0LQ

DPOOFDUJPO :PV DBO WJFX UIF SFDPSEFE NPWJF BOE QIPUP JNBHFT PO B MBSHF TDSFFO CZ DPOOFDUJOH UIF )% DBNDPSEFS UP BO )%57 PS OPSNBM 57

$0//&$5*/( 50 " 57 #FGPSF DPOOFDUJOH UP B 57 t %FQFOEJOH PO UIF 57 BOE DBCMFT UIBU BSF VTFE UIF DPOOFDUJPO NFUIPE BOE SFTPMVUJPO DBO EJGGFS t 'PS NPSF JOGPSNBUJPO BCPVU UIF DPOOFDUJPO SFGFS UP UIF 57 T VTFS NBOVBM t 6TF UIF TVQQMJFE "$ QPXFS BEBQUPS BT UIF QPXFS TPVSDF ¬QBHF

$POOFDUJOH UP B IJHI EFGJOJUJPO 57 t 5P QMBZ CBDL UIF )% RVBMJUZ Y NPWJF JNBHFT ZPV OFFE B IJHI EFGJOJUJPO 57 )%57

t .FUIPE $POOFDU ZPVS )% DBNDPSEFS UP B 57 XJUI BO )%.* DBCMF )%.* DBCMF JT BO PQUJPOBM BDDFTTPSZ

*G BO )%.* DBCMF JT VTFE QPXFS JT SFRVJSFE UP CF TVQQMJFE UP UIF DSBEMF UISPVHI "$ QPXFS BEBQUPS /PUF 5IF )%.* KBDL JT MPDBUFE PO UIF $SBEMF t .FUIPE 5VOF UIF PVUQVU TJHOBM GPS 57 VTJOH UIF i$PNQPOFOU 0VUw GVODUJPO ¬QBHF .FUIPE

)% DBNDPSEFS

)% 57

)% 57

.FUIPE )% DBNDPSEFS

$SBEMF &20321(17 ,1 $8',2 ,1 < 3E 3U / 5

4JHOBM GMPX

)%.* DBCMF

4JHOBM GMPX

$PNQPOFOU DBCMF

t "CPVU UIF )%.* )JHI %FGJOJUJPO .VMUJNFEJB *OUFSGBDF

)%.* KBDL JT BO JOUFSGBDF UP CPUI WJEFP BVEJP TJHOBMT )%.* DPOOFDUJPO TVQQMJFT IJHI RVBMJUZ JNBHFT BOE TPVOE t 5IF )%.* KBDL PO ZPVS )% DBNDPSEFS JT GPS PVUQVU VTF POMZ t :PV DBO VTF UIF "OZOFU GVODUJPO CZ DPOOFDUJOH UIF )% DBNDPSEFS UP B 4BNTVOH "OZOFU TVQQPSUFE 57 XJUI UIF )%.* DBCMF 3FGFS UP UIF DPSSFTQPOEJOH 57 VTFS NBOVBM GPS NPSF EFUBJMT t 8IFO UIF )% DBNDPSEFS DPOOFDUFE UP UIF "OZOFU TVQQPSUFE 57 XJUI BO )%.* DBCMF UVSOT PO 5IF 57 JT BVUPNBUJDBMMZ UVSOFE PO *U JT POF PG UIF "OZOFU GVODUJPOT *G ZPV EP OPU XBOU UP VTF "OZOFU GVODUJPO TFU i"OZOFU )%.* $&$ w UP i0GG w ¬QBHF t 8IFO BO )%.* DBCMF JT DPOOFDUFE JU XJMM PWFSSJEF BMM PUIFS DPOOFDUJPOT t )%.* GFBUVSF DBO SFDPHOJTF UIF 57 UZQF BVUPNBUJDBMMZ BOE BEKVTU UIF WJEFP PVUQVU SFTPMVUJPO .BOVBM TFUUJOH JT OPU OFDFTTBSZ

&OHMJTI @

DPOOFDUJPO $POOFDUJOH UP B OPSNBM 57

t 5IJT DPOOFDUJPO UZQF JT VTFE XIFO EPXODPOWFSUJOH SFDPSEFE )% JNBHFT UP 4% GPS QMBZCBDL t 8IFO QMBZJOH CBDL )% RVBMJUZ Y NPWJF JNBHFT PO B 4%57 UIF JNBHFT BSF EPXO DPOWFSUFE UP Y t 5IF NVMUJ "7 DBCMF EPFT OPU TVQQPSU )% RVBMJUZ JNBHFT TP JU EPXO DPOWFSUT UIFN UP 4% RVBMJUZ JNBHFT t #FGPSF DPOOFDUJOH ZPVS )% DBNDPSEFS UP B 57 TFU UIF TBNF BTQFDU SBUJP PO ZPVS )% DBNDPSEFS BT PO ZPVS 57 ¬QBHF t .FUIPE 5VOF UIF PVUQVU TJHOBM GPS 57 VTJOH UIF i$PNQPOFOU 0VUw GVODUJPO ¬QBHF t .FUIPE 8IFO DPOOFDUJOH XJUI .VMUJ "7 DBCMF /PSNBM 57

.FUIPE

/PSNBM 57

.FUIPE )% DBNDPSEFS

)% DBNDPSEFS

6 9,'(2 ,1

&20321(17 ,1 $8',2 ,1 < 3E 3U / 5

4JHOBM GMPX

9,'(2 ,1 $8',2 ,1 / 5

4JHOBM GMPX PS

$PNQPOFOU DBCMF

.VMUJ "7 DBCMF

t *G POMZ B NPOP BVEJP JOQVU JT BWBJMBCMF PO UIF 57 TFU VTF UIF BVEJP DBCMF XJUI UIF XIJUF KBDL "VEJP -

t :PV NBZ VTF BO 4 7JEFP KBDL PO UIF DBCMF UP PCUBJO CFUUFS RVBMJUZ JNBHFT JG ZPV IBWF BO 4 7JEFP KBDL PO ZPVS 57 t &WFO JG ZPV VTF BO 4 7JEFP KBDL ZPV OFFE UP DPOOFDU BO BVEJP DBCMF t 8IFO DPOOFDUJOH )%.* DPNQPOFOU BOE NVMUJ "7 DBCMFT BU UIF TBNF UJNF UIF WJEFP PVUQVU QSJPSJUJFT BSF BT GPMMPXT )%.* PVUQVU $PNQPOFOU PVUQVU 4 7JEFP PVUQVU 7JEFP PVUQVU t 8IFO DPOOFDUJOH ZPVS )% DBNDPSEFS UP 57 UISPVHI )%.* DPNQPOFOU PS NVMUJ "7 DBCMF DIFDL XIFUIFS UIF DPOOFDUJPOT BSF DPSSFDUMZ NBEF t 8IFO JOTFSUJOH SFNPWJOH UIF )%.* DPNQPOFOU BOE NVMUJ "7 DBCMFT EP OPU BQQMZ FYDFTTJWF GPSDF t 8IFO DPOOFDUJOH UIF NVMUJ "7 DBCMF PS DPNQPOFOU DBCMF NBLF TVSF UP NBUDI UIF DPMPVS PG UIF DBCMF QMVHT UP UIF 57 KBDLT t *U JT SFDPNNFOEFE UP VTF UIF "$ QPXFS BEBQUPS BT UIF QPXFS TPVSDF t 8IFO UIF )% DBNDPSEFS JT DPOOFDUFE UP B 57 ZPV DBOOPU DPOUSPM UIF WPMVNF PG UIF 57 GSPN UIF DBNDPSEFS @ &OHMJTI

7JFXJOH PO 57 TDSFFO 4MJEF UIF 108&3 TXJUDI EPXOXBSE UP UVSO PO UIF QPXFS BOE QSFTT UIF .0%& CVUUPO UP TFU 1MBZ

¬QBHF 5VSO PO UIF 57 BOE TFU UIF JOQVU TPVSDF PO UIF 57 UP UIF JOQVU DPOOFDUJPO UIF )% DBNDPSEFS JT DPOOFDUFE UP t 3FGFS UP UIF 57 T JOTUSVDUJPO NBOVBM UP TFF IPX UP TXJUDI UIF 57 JOQVU 1FSGPSN QMBZCBDL ¬QBHF t 5IF JNBHF PO UIF )% DBNDPSEFS BQQFBST PO UIF 57 TDSFFO t :PV DBO BMTP NPOJUPS UIF JNBHF PO UIF -$% TDSFFO PG UIF )% DBNDPSEFS t :PV DBO BMTP QFSGPSN QMBZ SFDPSEJOH PS FEJUJOH JO QMBZ NPEF XIJMF WJFXJOH PO B 57 TDSFFO *NBHF EJTQMBZ EFQFOEJOH PO 57 TDSFFO SBUJP 3FDPSEJOH UZQF

*NBHFT SFDPSEFE JO SBUJP t .PWJF JNBHFT t 1IPUP DBQUVSF JNBHFT

*NBHFT SFDPSEFE JO SBUJP t .PWJF JNBHFT 4% /PSNBM

t 1IPUP JNBHFT t 1IPUP DBQUVSF JNBHFT 4% /PSNBM 4% 4MPX .PUJPO

57 5ZQF TFUUJOH

8JEF 57

57

4% 4MPX .PUJPO

t 3FGFS UP QBHF GPS i57 5ZQFw TFUUJOH &OHMJTI @

DPOOFDUJPO t "EKVTU UIF TPVOE WPMVNF PO UIF 57 t 5IF SFNPUF DPOUSPM JT VTFGVM XIFO PQFSBUJOH UIF )% DBNDPSEFS XIJMF WJFXJOH BO JNBHF PO B 57 TDSFFO t *OGPSNBUJPO UIBU UIF )% DBNDPSEFS JT SFDPSEJOH XJMM BQQFBS PO UIF 57 TDSFFO :PV DBO TXJUDI CFUXFFO UIF PO TDSFFO JOGPSNBUJPO EJTQMBZ NPEFT 3FGFS UP i4XJUDIJOH UIF JOGPSNBUJPO EJTQMBZ NPEFw BOE QSFTT UIF %JTQMBZ L$)&$, CVUUPO UP TXJUDI UIF EJTQMBZ TUBUVT ¬QBHF t 8IFO i57 %JTQMBZw JT TFU UP PGG 04% 0O 4DSFFO %JTQMBZ EPFT OPU BQQFBS PO UIF 57 TDSFFO ¬QBHF

%6##*/( *."(&4 '30. 5)& $".$03%&3 50 " 7$3 03 %7% )%% 3&$03%&3 t :PV DBO EVC JNBHFT QMBZFE CBDL PO UIJT )% DBNDPSEFS POUP B 7$3 PS %7% )%% SFDPSEFS t 3FGFS UP iFEJUJOH NPWJF JNBHFTw UP DSFBUF B QMBZMJTU CZ TFMFDUJOH EFTJSFE TDFOFT GSPN UIPTF SFDPSEFE PO UIJT )% DBNDPSEFS ¬QBHF t 6TF UIF QSPWJEFE NVMUJ BW DBCMF UP DPOOFDU UIF )% DBNDPSEFS UP UIF PUIFS "7 EFWJDF t *G UIF DPOOFDUFE "7 EFWJDF UIBU IBT BO 4 7JEFP PVUQVU KBDL ZPV DBO DPOOFDU UIF 4 7JEFP KBDL PG UIF .VMUJ "7 $BCMF

)% $BNDPSEFS

7$3 PS %7% )%% SFDPSEFS

6 9,'(2 ,1

9,'(2 ,1 $8',2 ,1 / 5

4JHOBM GMPX PS

.VMUJ "7 DBCMF

1SFTT UIF .0%& CVUUPO UP TFU 1MBZ $IPPTF UIF EFTJSFE JNBHF UP CF EVCCFE UIFO QSFTT UIF SFDPSE CVUUPO PO UIF DPOOFDUFE EFWJDF t 5IF )% DBNDPSEFS XJMM TUBSU QMBZCBDL BOE UIF SFDPSEJOH EFWJDF XJMM EVC JU t 6TJOH 4 7JEFP XJMM EFMJWFS DMFBS JNBHFT t #F TVSF UP VTF UIF "$ QPXFS BEBQUPS UP QPXFS UIF )% DBNDPSEFS UP QSFWFOU CBUUFSZ QPXFS GSPN TIVUUJOH PGG EVSJOH SFDPSEJOH PO BOPUIFS WJEFP EFWJDF

@ &OHMJTI

VTJOH UIF NFOV JUFNT :PV DBO PQFSBUF UIF )% DBNDPSEFS NPSF VTFGVMMZ CZ TFUUJOH NFOVT SFMBUFE UP SFDPSEJOH QMBZCBDL BOE TFUUJOH

)"/%-*/( .&/64 "/% 26*$, .&/64 t :PV DBO DIBOHF UIF NFOV TFUUJOHT UP DVTUPNJTF ZPVS )% DBNDPSEFS "DDFTT UIF EFTJSFE NFOV TDSFFO CZ GPMMPXJOH UIF TUFQT CFMPX BOE DIBOHF UIF WBSJPVT TFUUJOHT t 6TJOH UIF UPVDI QBOFM ZPV DBO FBTJMZ NBLF ZPVS TFMFDUJPO BOE OBWJHBUF UIF NFOV 67%< > 0LQ@

0LQ

0LQ

:KLWH %DODQFH

6FHQH 0RGH $(

$XWR

:KLWH %DODQFH

'D\OLJKW

([SRVXUH

6XSHU & 1LWH

)OXRUHVFHQW

:KLWH %DODQFH

:%

6WRUDJH

)RFXV

5HVROXWLRQ

([SRVXUH

&ORXG\

:%

6KXWWHU

$XWR

'D\OLJKW

&ORXG\

)OXUVF

7XQJVWHQ

&XVWRP :%

.FOV UBC 6TF JU UP FOUFS UIF NFOV 6Q EPXO UBC 6TF JU UP DIBOHF UIF QSFWJPVT PS OFYU QBHF 3FUVSO UBC 6TF JU UP NPWF UP UIF QSFWJPVT NFOV PS FYJU GSPN UIF NFOV &YJU UBC 6TF JU UP FYJU GSPN UIF NFOV 2 .&/6 CVUUPO 6TF JU UP FOUFS UIF RVJDL NFOV 2VJDL NFOV QSPWJEFT FBTJFS BDDFTT UP GSFRVFOUMZ VTFE NFOVT XJUIPVU VTJOH UIF .FOV t .FOV BOE RVJDL NFOV DBOOPU CF VTFE JO &"4: 2 NPEF t "DDFTTJCMF JUFNT JO NFOV BOE RVJDL NFOV WBSZ EFQFOEJOH PO UIF PQFSBUJPO NPEF 'PS UIF BDDFTTJCMF JUFNT TFF QBHFT

UBC

&OHMJTI @

VTJOH UIF NFOV JUFNT

0LQ

67%< > 0LQ@

* 'PMMPX UIF JOTUSVDUJPO CFMPX UP VTF FBDI PG UIF NFOV JUFNT MJTUFE BGUFS UIJT QBHF 'PS FYBNQMF TFUUJOH UIF 8IJUF #BMBODF JO NPWJF NPEF 8IFO VTJOH .FOV UBC 5PVDI .FOV UBC 5PVDI i8IJUF #BMBODF w t *G UIF JUFN JT OPU PO UIF TDSFFO UPVDI VQ PS EPXO UBC UP TDSPMM VQ PS EPXO UP UIF OFYU HSPVQ PG PQUJPOT 5PVDI UIF EFTJSFE PQUJPO t *G UIF JUFN JT OPU PO UIF TDSFFO UPVDI VQ PS EPXO UBC UP TDSPMM VQ PS EPXO UP UIF OFYU HSPVQ PG PQUJPOT 5P FYJU UPVDI &YJU UBC PS 3FUVSO UBC VOUJM UIF NFOV EJTBQQFBST

:KLWH %DODQFH $XWR 'D\OLJKW

&ORXG\ )OXRUHVFHQW

:%

8IFO VTJOH UIF 2 .&/6 CVUUPO 1SFTT UIF 2 .&/6 CVUUPO UP FOUFS UIF RVJDL NFOV 5PVDI i8# w 5PVDI UIF EFTJSFE PQUJPO 5P FYJU UPVDI &YJU UBC PS 3FUVSO UBC VOUJM UIF NFOV EJTBQQFBST 5IFSF BSF TPNF GVODUJPOT ZPV DBOOPU BDUJWBUF TJNVMUBOFPVTMZ XIFO VTJOH .FOV

UBC PS 2 .&/6 CVUUPO :PV DBOOPU TFMFDU UIF NFOV JUFNT HSBZFE PVU PO UIF TDSFFO 3FGFS UP UIF USPVCMFTIPPUJOH GPS FYBNQMFT PG VOXPSLBCMF DPNCJOBUJPOT PG GVODUJPOT BOE NFOV JUFNT ¬QBHFT _

@ &OHMJTI

6WRUDJH

5HVROXWLRQ

:%

)RFXV

([SRVXUH

6KXWWHU

:KLWH %DODQFH $XWR

'D\OLJKW

&ORXG\

)OXUVF

7XQJVWHQ

&XVWRP :%

.&/6 *5&.4 t "DDFTTJCMF JUFNT JO NFOV WBSZ EFQFOEJOH PO UIF PQFSBUJPO NPEF t 'PS PQFSBUJPO EFUBJMT TFF UIF DPSSFTQPOEJOH QBHF

3FDPSEJOH NFOV JUFNT 0QFSBUJOH NPEF

z 1PTTJCMF 9 /PU QPTTJCMF

.PWJF

1IPUP

4DFOF .PEF "&

8IJUF #BMBODF &YQPTVSF 4VQFS $ /JUF "OUJ 4IBLF &*4

%JHJUBM &GGFDU 'PDVT 4IVUUFS 5FMF .BDSP

z z z z z z z z z

z z z 9 z z z z z

3FTPMVUJPO

z

z

2VBMJUZ 8JOE $VU 4FMG 5JNFS #BDL -JHIU 'BEFS 'BDF %FUFDU (VJEFMJOF %JHJUBM ;PPN 4IBSQOFTT $POU 4IPU *40

z z z z z z z z 9 9 9

9 9 z 9 9 z z z z z z

%FGBVMU WBMVF

1BHF

"VUP "VUP "VUP 0GG 0GG 0GG "VUP "VUP 0GG .PWJF <)%> J 1IPUP Y 4VQFS 'JOF 0GG 0GG 0GG 0GG 0GG 0GG 0GG /PSNBM 0GG "VUP

&OHMJTI @

VTJOH UIF NFOV JUFNT 1MBZCBDL NFOV JUFNT

0QFSBUJOH NPEF

.PWJF

1MBZ 0QUJPO )JHIMJHIU 1MBZMJTU %FMFUF 1SPUFDU $PQZ 1BSUJBM %FMFUF %JWJEF &EJU $PNCJOF $POU $BQUVSF 'JMF *OGP .VTJD 4MJEF 4IPX 4MJEF 4IPX *OUFSWBM 3FTJ[F 1SJOU .BSL %10' NFNPSZ DBSE POMZ

4FUUJOH NFOV JUFNT

1IPUP

z z z z z z z z z z z 9 9 9 9

9 9 9 z z z 9 9 9 9 z z z z z

%FGBVMU WBMVF

1BHF

1MBZ "MM

$VU

4FD

0QFSBUJOH NPEF

%FGBVMU WBMVF

1BHF

%BUF 5JNF 4FU %BUF 5JNF %BUF 5ZQF 'JMF /P -$% $POUSPM -$% &OIBODFS 4UPSBHF 5ZQF 4UPSBHF *OGP

0GG %% .. :: 4FSJFT #SJHIU $PMPVS 0GG .FNPSZ

¬$POUJOVFE @ &OHMJTI

4FUUJOH NFOV JUFNT

0QFSBUJOH NPEF

%FGBVMU WBMVF

1BHF

'PSNBU

#FFQ 4PVOE

0O

4IVUUFS 4PVOE

0O

"VUP 1PXFS 0GG

NJO

3&$ -BNQ

0O

3FNPUF

0O

64# $POOFDU

.BTT 4UPSBHF

57 5ZQF

$PNQPOFOU 0VU

"VUP

57 %JTQMBZ

0O

%FGBVMU 4FU

-BOHVBHF

%FNP

0O

"OZOFU )%.* $&$

0GG

t 4PNF JUFNT XJMM OPU BQQFBS EFQFOEJOH PO UIF TUPSBHF NFEJB UZQF t 5IFSF BSF TPNF GVODUJPOT ZPV DBOOPU BDUJWBUF TJNVMUBOFPVTMZ XIFO VTJOH .FOV UBC PS 2 .&/6 CVUUPO :PV DBOOPU TFMFDU UIF NFOV JUFNT UIBU BSF HSBZFE PVU PO UIF TDSFFO 3FGFS UP UIF 5SPVCMFTIPPUJOH GPS FYBNQMFT PG VOXPSLBCMF DPNCJOBUJPOT PG GVODUJPOT BOE NFOV JUFNT ¬QBHFT _

&OHMJTI @

VTJOH UIF NFOV JUFNT 26*$, .&/6 *5&.4 t "DDFTTJCMF JUFNT JO RVJDL NFOV WBSZ EFQFOEJOH PO UIF PQFSBUJPO NPEF t 'PS PQFSBUJPO EFUBJMT TFF UIF DPSSFTQPOEJOH QBHF

3FDPSEJOH NFOV JUFNT 0QFSBUJOH NPEF 4UPSBHF

.PWJF z

1IPUP z

3FTPMVUJPO

z

z

8# 'PDVT &YQPTVSF 4IVUUFS

z z z z

z z z z

%FGBVMU WBMVF .FNPSZ .PWJF <)%> J 1IPUP Y "VUP "VUP "VUP "VUP

z 1PTTJCMF 9 /PU QPTTJCMF 1BHF

1MBZCBDL NFOV JUFNT 0QFSBUJOH NPEF .PWJF

%FGBVMU WBMVF 1BHF 1IPUP

z z .FNPSZ

4UPSBHF z

9 )JHIMJHIU z z

%FMFUF z 9 &EJU

z 9

1MBZMJTU z z

'JMF *OGP

z 4MJEF 4IPX 9

z 3FTJ[F 9

1SJOU .BSL

z 9

NFNPSZ DBSE POMZ

t 4PNF JUFNT XJMM OPU BQQFBS EFQFOEJOH PO UIF TUPSBHF NFEJB UZQF t 5IFSF BSF TPNF GVODUJPOT ZPV DBOOPU BDUJWBUF TJNVMUBOFPVTMZ XIFO VTJOH .FOV UBC PS 2 .&/6 CVUUPO :PV DBOOPU TFMFDU UIF NFOV JUFNT UIBU BSF HSBZFE PVU PO UIF TDSFFO 3FGFS UP UIF USPVCMFTIPPUJOH GPS FYBNQMFT PG VOXPSLBCMF DPNCJOBUJPOT PG GVODUJPOT BOE NFOV JUFNT ¬QBHFT _ @ &OHMJTI

3&$03%*/( .&/6 *5&.4 :PV DBO TFUVQ UIF NFOV JUFNT GPS NPWJF BOE QIPUP JNBHFT SFDPSEJOH

4DFOF .PEF "&

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t :PV DBO DIFDL UIF TFMFDUFE 4DFOF NPEF PO UIF PO TDSFFO JOGPSNBUJPO EJTQMBZ )PXFWFS OPUIJOH XJMM BQQFBS JO "VUP NPEF t 5IJT GVODUJPO XJMM CF TFU UP i"VUPw JO UIF &"4: 2 NPEF t *G 4IVUUFS PS &YQPTVSF JT TFU UP .BOVBM 4DFOF .PEF "& JT SFMFBTFE

&OHMJTI @

VTJOH UIF NFOV JUFNT 8IJUF #BMBODF 5IJT )% DBNDPSEFS BVUPNBUJDBMMZ BEKVTUT UIF DPMPVS PG TVCKFDU $IBOHF UIF XIJUF CBMBODF TFUUJOH EFQFOEJOH PO UIF SFDPSEJOH DPOEJUJPOT 4FUUJOHT "VUP %BZMJHIU $MPVEZ 'MVPSFTDFOU 5VOHTUFO $VTUPN 8#

$POUFOUT 5IJT PQUJPO JT HFOFSBMMZ VTFE UP DPOUSPM UIF XIJUF CBMBODF BVUPNBUJDBMMZ 5IJT DPOUSPMT UIF XIJUF CBMBODF BDDPSEJOH UP UIF PVUEPPS BNCJFODF FTQFDJBMMZ GPS DMPTF VQ BOE XIFO UIF TVCKFDU JT PG POF EPNJOBOU DPMPVS 5IJT PQUJPO JT VTFE XIFO ZPV NBLF B SFDPSEJOH JO DMPVEZ XFBUIFS 5IJT PQUJPO JT VTFE XIFO ZPV NBLF B SFDPSEJOH VOEFS XIJUF GMVPSFTDFOU MJHIUT 5IJT PQUJPO JT GPS XIFO UIFSF JT MFTT UIBO , PG UVOHTUFO MJHIU CFJOH VTFE :PV DBO NBOVBMMZ BEKVTU XIJUF CBMBODF UP NBUDI UIF MJHIU TPVSDF PS TJUVBUJPO

4FUUJOH XIJUF CBMBODF NBOVBMMZ 5PVDI i$VTUPN 8# w t 5IF i 4FU 8IJUF #BMBODFw JOEJDBUPS JT EJTQMBZFE 'SBNF B XIJUF PCKFDU TVDI BT B QJFDF PG XIJUF QBQFS TP UIBU JU GJMMT UIF TDSFFO t 6TF BO PCKFDU UIBU JT OPU USBOTQBSFOU t *G UIF PCKFDU UIBU GJMMT UIF TDSFFO JT OPU GPDVTTFE DPSSFDU UIF GPDVT VTJOH i'PDVT .BOVBMw ¬QBHF 5PVDI 0, 2.

UBC t 5IF XIJUF CBMBODF TFUUJOH XJMM CF BQQMJFE BOE

JOEJDBUPS JT EJTQMBZFE t " TVCKFDU DBO CF TIPU VOEFS WBSJPVT UZQFT PG MJHIUJOH DPOEJUJPOT JOEPPST OBUVSBM GMVPSFTDFOU DBOEMFMJHIU FUD #FDBVTF UIF DPMPVS UFNQFSBUVSF JT EJGGFSFOU EFQFOEJOH PO UIF MJHIU TPVSDF UIF TVCKFDU UJOU XJMM EJGGFS EFQFOEJOH PO UIF XIJUF CBMBODF TFUUJOHT 6TF UIJT GVODUJPO GPS B NPSF OBUVSBM SFTVMU t *U JT SFDPNNFOEFE UIBU ZPV TQFDJGZ i%JHJUBM ;PPN 0GGw ¬QBHF CFGPSF TFUUJOH XIJUF CBMBODF t %P OPU VTF B DPMPVSFE PCKFDU XIFO TFUUJOH XIJUF CBMBODF 5IF BQQSPQSJBUF UJOU DBOOPU CF TFU t 5IJT GVODUJPO XJMM CF TFU UP i"VUPw JO UIF &"4: 2 NPEF t 3FTFU UIF XIJUF CBMBODF JG MJHIUJOH DPOEJUJPOT DIBOHF t %VSJOH OPSNBM PVUEPPS SFDPSEJOH TFUUJOH UP BVUP NBZ QSPWJEF CFUUFS SFTVMUT

@ &OHMJTI

0O TDSFFO EJTQMBZ /POF

8IJUF UIJDL QBQFS

67%< > 0LQ@

0LQ

&YQPTVSF 5IF )% DBNDPSEFS VTVBMMZ BEKVTUT UIF FYQPTVSF BVUPNBUJDBMMZ :PV DBO BMTP NBOVBMMZ BEKVTU UIF FYQPTVSF EFQFOEJOH PO UIF SFDPSEJOH DPOEJUJPOT 0O TDSFFO 4FUUJOHT $POUFOUT EJTQMBZ 5IJT PQUJPO BVUPNBUJDBMMZ BEKVTUT JNBHF CSJHIUOFTT BDDPSEJOH UP UIF FOWJSPONFOUBM "VUP /POF MJHIU DPOEJUJPOT :PV DBO BEKVTU UIF CSJHIUOFTT PG BO JNBHF NBOVBMMZ "EKVTU UIF CSJHIUOFTT XIFO UIF .BOVBM TVCKFDU JT UPP CSJHIU PS UPP EBSL 4FUUJOH UIF FYQPTVSF NBOVBMMZ 8IFO NBOVBMMZ TFUUJOH UIF FYQPTVSF UIF EFGBVMU TFUUJOH BQQFBST BT UIF WBMVF JT BVUPNBUJDBMMZ BEKVTUFE BDDPSEJOH UP UIF FOWJSPONFOUBM MJHIU DPOEJUJPOT 5PVDI EFDSFBTF PS JODSFBTF UBC UP BEKVTU UIF FYQPTVSF XIJMF WJFXJOH UIF JNBHF PO UIF -$% TDSFFO t &YQPTVSF WBMVF DBO CF TFU CFUXFFO i w BOE i w

([SRVXUH

.BOVBM FYQPTVSF JT SFDPNNFOEFE JO TJUVBUJPOT MJTUFE CFMPX t 8IFO TIPPUJOH VTJOH SFWFSTF MJHIUJOH PS XIFO UIF CBDLHSPVOE JT UPP CSJHIU t 8IFO TIPPUJOH PO B SFGMFDUJWF OBUVSBM CBDLHSPVOE TVDI BT BU UIF CFBDI PS XIFO TLJJOH t 8IFO UIF CBDLHSPVOE JT PWFSMZ EBSL PS UIF TVCKFDU JT CSJHIU 5IJT GVODUJPO XJMM CF TFU UP i"VUPw JO UIF &"4: 2 NPEF

&OHMJTI @

VTJOH UIF NFOV JUFNT 4VQFS $ /JUF :PV DBO NBLF UIF TVCKFDU SFDPSEFE BQQFBS UP CF JO TMPX NPUJPO CZ DPOUSPMMJOH UIF TIVUUFS TQFFE PS B CSJHIUFS JNBHF JO EBSL QMBDFT XJUIPVU B DPNQSPNJTF JO DPMPVST 0O TDSFFO 4FUUJOHT $POUFOUT EJTQMBZ 0GG /POF %JTBCMFT UIF GVODUJPO /PSNBM 3FDPSE B CSJHIUFS JNBHF 4VQFS 3FDPSE B CSJHIUFS JNBHF FWFO JO B EBSL MPDBUJPO t 8IFO VTJOH 4VQFS $ /JUF UIF GPDVT BEKVTUT TMPXMZ BOE XIJUF EPUT NBZ BQQFBS PO UIF TDSFFO UIJT JT OPU B EFGFDU t 5IF 4VQFS $ /JUF GVODUJPO XJMM XPSL POMZ JO .PWJF SFDPSE NPEF t 5IJT GVODUJPO XJMM CF TFU UP i0GGw JO UIF &"4: 2 NPEF

"OUJ 4IBLF &*4 &MFDUSPOJD *NBHF 4UBCJMJ[FS

8IFO ZPV VTF [PPN UP SFDPSE B NBHOJGJFE TVCKFDU JNBHF JU XJMM DPSSFDU GV[[JOFTT JO UIF SFDPSEFE JNBHF 4FUUJOHT

$POUFOUT

0GG

%JTBCMFT UIF GVODUJPO $PNQFOTBUFT GPS VOTUBCMF JNBHFT DBVTFE CZ DBNDPSEFS TIBLF QBSUJDVMBSMZ BU IJHI NBHOJGJDBUJPO

0O

0O TDSFFO EJTQMBZ /POF

t &"4: 2 NPEF BVUPNBUJDBMMZ TFUT UIF i"OUJ 4IBLFw UP i0O w t 8IFO i"OUJ 4IBLF 0Ow JT TFU UIFSF XJMM CF B TMJHIU EJGGFSFODF CFUXFFO UIF BDUVBM NPWFNFOU BOE UIF NPWFNFOU PO TDSFFO t (SPTT DBNDPSEFS TIBLF NBZ OPU CF FOUJSFMZ DPSSFDUFE FWFO JG i"OUJ 4IBLF 0Ow JT TFU 'JSNMZ IPME UIF )% DBNDPSEFS XJUI CPUI IBOET t *U JT SFDPNNFOEFE UIBU ZPV TQFDJGZ i"OUJ 4IBLF 0GGw XIFO VTJOH UIF )% DBNDPSEFS PO B EFTL PS USJQPE OPU TVQQMJFE

t 8IFO ZPV SFDPSE JNBHFT XJUI IJHI NBHOJGJDBUJPO BOE UIF i"OUJ 4IBLFw JT TFU UP i0Ow JO EBSL MPDBUJPOT BGUFS JNBHFT NBZ TUBOE PVU *O UIJT DBTF XF SFDPNNFOE VTJOH B USJQPE OPU TVQQMJFE BOE UVSOJOH UIF i"OUJ 4IBLFw UP i0GG w t "OUJ 4IBLF &*4 JT OPU BWBJMBCMF XIFO UIF FYQPTVSF JT BEKVTUFE BCPWF 1IPUP SFDPSE NPEF POMZ

@ &OHMJTI

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i0GGw JO UIF &"4: 2 NPEF

'PDVT 5IF )% DBNDPSEFS VTVBMMZ GPDVTFT PO B TVCKFDU BVUPNBUJDBMMZ BVUP GPDVT 8IFO UIF )% DBNDPSEFS JT UVSOFE PO BVUP GPDVT XJMM BMXBZT CF TFU :PV DBO BMTP NBOVBMMZ GPDVT B TVCKFDU EFQFOEJOH PO UIF SFDPSEJOH DPOEJUJPOT 0O TDSFFO 4FUUJOHT $POUFOUT EJTQMBZ *O NPTU TJUVBUJPOT JU JT CFUUFS UP VTF UIF BVUPNBUJD GPDVT GFBUVSF BT JU FOBCMFT ZPV UP "VUP /POF DPODFOUSBUF PO UIF DSFBUJWF TJEF PG ZPVS SFDPSEJOH .BOVBM GPDVTTJOH NBZ CF OFDFTTBSZ VOEFS DFSUBJO DPOEJUJPOT UIBU NBLF BVUPNBUJD .BOVBM GPDVTTJOH EJGGJDVMU PS VOSFMJBCMF 5PVDI 1PJOU 5IJT GVODUJPO JT UP GPDVT PO UIF QPJOU ZPV UPVDI

&OHMJTI @

VTJOH UIF NFOV JUFNT

'PDVTTJOH NBOVBMMZ EVSJOH SFDPSEJOH 5IJT )% DBNDPSEFS BVUPNBUJDBMMZ GPDVTFT B TVCKFDU GSPN DMPTF VQ UP JOGJOJUZ )PXFWFS UIF DPSSFDU GPDVT NBZ OPU CF PCUBJOFE EFQFOEJOH PO UIF SFDPSEJOH DPOEJUJPO *O UIJT DBTF VTF UIF NBOVBM GPDVT NPEF 5PVDI i'PDVTw i.BOVBM w t 5IF NBOVBM GPDVT BEKVTUNFOU JOEJDBUPS BQQFBST

PS GVSUIFS TVCKFDU

UBC UP BEKVTU UIF GPDVT XIJMF WJFXJOH 5PVDI OFBSFS TVCKFDU UIF TVCKFDU PO UIF -$% TDSFFO 'PDVTTJOH PO B GVSUIFS TVCKFDU

UBC 5P GPDVT PO B GVSUIFS TVCKFDU UPVDI GVSUIFS TVCKFDU 'PDVTTJOH JO B OFBSFS TVCKFDU 5P GPDVT PO B OFBSFS TVCKFDU UPVDI OFBSFS TVCKFDU

UBC 5PVDI 1PJOUJOH 5PVDI UIF EFTJSFE QPJOU UP GPDVT JO UIF TRVBSF BSFB PO UIF UPVDI QBOFM 5PVDI i'PDVTw i5PVDI 1PJOU w t 5IF TRVBSF BSFB BQQFBST 'PDVT PO UIF QBSUJDVMBS QPJOU CZ UPVDIJOH UIF EFTJSFE QPJOU JO UIF TRVBSF BSFB *O UIF GPMMPXJOH TJUVBUJPOT ZPV NBZ PCUBJO CFUUFS SFTVMUT CZ BEKVTUJOH UIF GPDVT NBOVBMMZ t " QJDUVSF DPOUBJOJOH TFWFSBM PCKFDUT TPNF DMPTF UP UIF )% DBNDPSEFS PUIFST GVSUIFS BXBZ t " QFSTPO FOWFMPQFE JO GPH PS TVSSPVOEFE CZ TOPX t 7FSZ TIJOZ PS HMPTTZ TVSGBDFT MJLF B DBS t 1FPQMF PS PCKFDUT NPWJOH DPOTUBOUMZ PS RVJDLMZ MJLF BO BUIMFUF PS B DSPXE

)RFXV

&0 P

22

/FBSFS TVCKFDU

'VSUIFS TVCKFDU )RFXV

7RXFK 7KH REMHFW

t i'PDVTw GVODUJPO XJMM BMUFSOBUF CFUXFFO NBOVBM GPDVT BOE BVUP GPDVT 8JUI BVUP GPDVT OP JOEJDBUJPO XJMM BQQFBS PO UIF TDSFFO t #F TVSF UP [PPN JO PO ZPVS TVCKFDU CFGPSF NBOVBMMZ GPDVTTJOH PO JU *G ZPV CSJOH UIF TVCKFDU JOUP GPDVT BU UIF i8w DPOUSPM TJEF GPDVT XJMM CF GBVMUZ XIFO ZPV UVSO UIF [PPN MFWFS UP UIF i5w DPOUSPM TJEF UP [PPN JO PO UIF TVCKFDU t *G ZPV BSF JOFYQFSJFODFE JO UIF VTF PG )% DBNDPSEFST XF SFDPNNFOE UIBU ZPV VTF BVUP GPDVT t 5IJT GVODUJPO XJMM CF TFU UP i"VUPw JO UIF &"4: 2 NPEF t 5IF OFBSFS PS GVSUIFS JDPO BQQFBST JO UIF DFOUSF XIFO GPDVT BEKVTUNFOU SFBDIFT UIF FOE t 5IF BEKVTUFE WBMVF JT BQQMJFE SJHIU BGUFS UPVDIJOH PS

UBC

@ &OHMJTI

4IVUUFS 5IF )% DBNDPSEFS BVUPNBUJDBMMZ TFUT UIF TIVUUFS TQFFE EFQFOEJOH PO UIF TVCKFDU CSJHIUOFTT :PV DBO BMTP NBOVBMMZ BEKVTU UIF TIVUUFS TQFFE BDDPSEJOH UP UIF TDFOF DPOEJUJPOT 0O TDSFFO 4FUUJOHT $POUFOUT EJTQMBZ "VUP /POF 5IF )% DBNDPSEFS BVUPNBUJDBMMZ TFUT UIF BQQSPQSJBUF BQFSUVSF WBMVF *O NPWJF SFDPSE NPEF TIVUUFS TQFFE DBO CF TFU UP PS .BOVBM 999 *O QIPUP SFDPSE NPEF TIVUUFS TQFFE DBO CF TFU UP PS 4FUUJOH UIF TIVUUFS TQFFE NBOVBMMZ :PV DBO TFU UIF TIVUUFS TQFFE NBOVBMMZ " GBTU TIVUUFS TQFFE DBO GSFF[F UIF NPUJPO PG B 6KXWWHU GBTU NPWJOH TVCKFDU BOE B TMPX TIVUUFS TQFFE DBO CMVS UIF TVCKFDU UP HJWF UIF JNQSFTTJPO PG

NPUJPO t 'BTU TIVUUFS TQFFE BMMPXT B GBTU NPWJOH TVCKFDU UP CF DBQUVSFE POF GSBNF BU B UJNF WJWJEMZ 6TF UIFTF TFUUJOHT XIFO BO BVUPNBUJD BEKVTUNFOU EPFT OPU XPSL XFMM XJUI i4QPSUTw NPEF JO i4DFOF .PEF "& w ¬QBHF 3FDPNNFOEFE TIVUUFS TQFFE XIFO SFDPSEJOH 4IVUUFS TQFFE $POEJUJPOT .PWJF SFDPSE 1IPUP SFDPSE 4MPX TIVUUFS TQFFE BMMPXT UIF VTFS UP SFDPSE EBSL TVCKFDUT PS JO EBSLFS

BSFBT NBLJOH UIFN FWFO CSJHIUFS UIBO UIFZ XPVME CF VOEFS HPPE OBUVSBM MJHIUJOH " TVCKFDU SFDPSEFE VTJOH UIJT GVODUJPO NBZ BQQFBS UP NPWF TMPXMZ

" TVCKFDU JT PVUEPPST BU TVOTFU PS TVOSJTF

5IF TIVUUFS TQFFE JT GJYFE BU TFDPOE $PMPVS CBOET UIBU BQQFBS XIFO

GPDVTJOH PO B 57 TDSFFO CFDPNF OBSSPXFS 5IF TIVUUFS TQFFE JT GJYFE BU TFDPOE *OEPPS TQPSUT TVDI BT

CBTLFUCBMM 5IF GMJDLFSJOH UIBU PDDVST XIFO TIPPUJOH VOEFS B GMPSFTDFOU MJHIU PS NFSDVSZ WBQPS MBNQ JT SFEVDFE

.PWJOH DBST USBJOT PS PUIFS SBQJEMZ NPWJOH WFIJDMFT TVDI BT SPMMFS DPBTUFST

0VUEPPS TQPSUT TVDI BT HPMG BOE UFOOJT

&OHMJTI @

VTJOH UIF NFOV JUFNT t 5IF JNBHF NBZ OPU TFFN TNPPUI XIFO B IJHI TIVUUFS TQFFE JT TFU t 5IJT GVODUJPO XJMM CF TFU UP i"VUPw JO UIF &"4: 2 NPEF t 8IFO SFDPSEJOH XJUI B TIVUUFS TQFFE PG PS IJHIFS NBLF TVSF UIF TVO JT OPU EJSFDUMZ TIJOJOH JOUP UIF MFOT t *G ZPV TFU UIF i4VQFS $ /JUFw XIFO i4IVUUFSwGVODUJPO JT TFMFDUFE UP i.BOVBMw i4VQFS $ /JUFw GVODUJPO JT BQQMJFE GJSTU

5FMF .BDSP t 5IJT GVODUJPO JT VTFE UP SFDPSE B EJTUBOU TVCKFDU UIBU JT BQQSPBDIJOH t 5IF FGGFDUJWF GPDBM EJTUBODF JO UIF 5FMF NBDSP NPEF JT CFUXFFO DN JODIFT BOE DN JODIFT

4FUUJOHT

$POUFOUT

0GG

%JTBCMFT UIF GVODUJPO

0O

5FMF NBDSP JT FYFDVUFE

t t t t t t t

0O TDSFFO EJTQMBZ /POF

8IFO SFDPSEJOH JO 5FMF NBDSP NPEF UIF GPDVT TQFFE NBZ CF MPXFSFE 8IFO ZPV PQFSBUF UIF [PPN GVODUJPO JO UIF 5FMF NBDSP NPEF UIF SFDPSEJOH TVCKFDU NBZ HFU PVU PG GPDVT 6TF B USJQPE OPU TVQQMJFE UP QSFWFOU IBOE TIBLF JO UIF 5FMF NBDSP NPEF "WPJE TIBEPXT XIFO SFDPSEJOH JO UIF 5FMF NBDSP NPEF "T UIF EJTUBODF UP UIF TVCKFDU EFDSFBTFT GPDVTTJOH BSFB OBSSPXT 8IFO ZPV DBO OPU HFU QSPQFS GPDVT NPWF UIF ;PPN MFWFS UP BEKVTU GPDVT 5IJT GVODUJPO XJMM CF TFU UP i0GGw JO UIF &"4: 2 NPEF

@ &OHMJTI

3FTPMVUJPO .PWJF JNBHFT

t :PV DBO TFMFDU UIF SFTPMVUJPO PG NPWJF JNBHF UP CF SFDPSEFE t 3FHBSEJOH EFUBJMFE JNBHF DBQBDJUZ TFF QBHF 4FUUJOHT

$POUFOUT

<)%> Q <)%> J <4%> Q

3FDPSET JO UIF )% Y Q GPSNBU 3FDPSET JO UIF 'VMM )% Y J GPSNBU 3FDPSET JO UIF 4% Y Q GPSNBU t 3FDPSET JO UIF TMPX NPUJPO Y GQT

t 5IJT JT HSFBU GPS BOBMZ[JOH B HPMG TXJOH PS B WJFXJOH B CJSE JO GMJHIU #Z JODSFBTJOH UIF SFDPSE SBUF GSPN GJFMET QFS TFDPOE GQT UP GQT GPS TFDPOET BMMPXJOH ZPV UP DBQUVSF TFDPOET PG GBTU NPUJPO BOE QMBZ UIF WJEFP CBDL JO TFDPOET

<4%> 4MPX .PUJPO

0O TDSFFO EJTQMBZ

t 3FDPSEFE GJMFT BSF FODPEFE XJUI 7BSJBCMF #JU 3BUF 7#3 7#3 JT BO FODPEJOH TZTUFN UIBU BVUPNBUJDBMMZ BEKVTUT UIF CJU SBUF BDDPSEJOH UP UIF SFDPSEJOH JNBHF t )JHI SFTPMVUJPO JNBHFT PDDVQZ NPSF NFNPSZ TQBDF UIBO MPX SFTPMVUJPO JNBHFT *G UIF IJHIFS SFTPMVUJPO JT TFMFDUFE UIFSF JT MFTT TQBDF UP SFDPSE NPWJF JNBHFT JO UIF NFNPSZ t 8IFO SFDPSEJOH BU )% Q PS J JNBHFT XJMM CF QMBZFE CBDL BU J PO ZPVS )%57 t .PWJF JNBHF SFDPSEFE XJUI <4%> Q SFTPMVUJPO BOE /PSNBM JNBHF RVBMJUZ JT TBWFE BU UIF Y Q 7(" SBUJP PG

3FTPMVUJPO 1IPUP JNBHFT

t :PV DBO TFMFDU UIF SFTPMVUJPO PG QIPUP JNBHF UP CF SFDPSEFE t 3FHBSEJOH EFUBJMFE JNBHF DBQBDJUZ TFF QBHF 4FUUJOHT Y Y Y Y Y Y

$POUFOUT

0O TDSFFO EJTQMBZ

3FDPSET JO UIF Y SFTPMVUJPO 3FDPSET JO UIF Y SFTPMVUJPO 3FDPSET JO UIF Y SFTPMVUJPO 3FDPSET JO UIF Y SFTPMVUJPO 3FDPSET JO UIF Y SFTPMVUJPO 3FDPSET JO UIF Y SFTPMVUJPO

t 'PS QIPUP EFWFMPQNFOU UIF IJHIFS UIF SFTPMVUJPO UIF GJOFS UIF JNBHF RVBMJUZ t 5IF OVNCFS PG SFDPSEBCMF JNBHFT WBSJFT EFQFOEJOH PO UIF SFDPSEJOH FOWJSPONFOU t 1IPUP JNBHFT UIBU BSF SFDPSEFE PO ZPVS )% DBNDPSEFS NBZ OPU QMBZCBDL QSPQFSMZ PO PUIFS EJHJUBM EFWJDFT UIBU EP OPU TVQQPSU UIJT QIPUP TJ[F t )JHI SFTPMVUJPO JNBHFT PDDVQZ NPSF NFNPSZ TQBDF UIBO MPX SFTPMVUJPO JNBHFT *G UIF IJHIFS SFTPMVUJPO JT TFMFDUFE UIFSF JT MFTT TQBDF UP UBLF QIPUPT JO UIF NFNPSZ

&OHMJTI @

VTJOH UIF NFOV JUFNT 2VBMJUZ t :PV DBO TFMFDU UIF RVBMJUZ PG B NPWJF UP CF SFDPSEFE t 3FHBSEJOH EFUBJMFE JNBHF DBQBDJUZ TFF QBHF 4FUUJOHT 4VQFS 'JOF 'JOF /PSNBM

$POUFOUT

0O TDSFFO EJTQMBZ

3FDPSET JO UIF IJHIFTU RVBMJUZ 3FDPSET JO UIF IJHI RVBMJUZ 3FDPSET JO UIF OPSNBM RVBMJUZ

t .PWJF JNBHF SFDPSEFE XJUI <4%> Q SFTPMVUJPO BOE /PSNBM JNBHF RVBMJUZ JT TBWFE BU UIF Y Q 7(" SBUJP PG

8JOE $VU :PV DBO SFEVDF XJOE OPJTF XIFO SFDPSEJOH TPVOE GSPN UIF CVJMU JO NJDSPQIPOF *G i8JOE $VU 0Ow JT TFU UIF MPX GSFRVFODZ DPNQPOFOUT JO UIF TPVOE QJDLFE VQ CZ UIF NJDSPQIPOF XJMM CF DVU PGG EVSJOH SFDPSEJOH 5IJT NBLFT JU FBTJFS UP IFBS WPJDF BOE TPVOE EVSJOH QMBZCBDL t 6TF UIF 8JOE $VU XIFO SFDPSEJOH JO XJOEZ QMBDFT TVDI BT B CFBDI 4FUUJOHT

$POUFOUT

0GG

%JTBCMF UIF GVODUJPO

0O

.JOJNJ[FT XJOE OPJTF PS PUIFS OPJTF XIJMF SFDPSEJOH

t t t t

0O TDSFFO EJTQMBZ /POF

8IFO UIF i8JOE $VUw JT i0O w TPNF MPX GSFRVFODZ TPVOE JT FMJNJOBUFE BMPOH XJUI UIF TPVOE PG UIF XJOE .BLF TVSF UIF i8JOE $VUw JT TFU UP i0GGw XIFO ZPV XBOU UIF NJDSPQIPOF UP CF TFOTJUJWF BT QPTTJCMF 5IF 8JOE $VU GVODUJPO XJMM XPSL POMZ JO .PWJF SFDPSE NPEF 5IF 8JOE $VU GVODUJPO XPSLT POMZ XJUI UIF CVJMU JO NJDSPQIPOF

@ &OHMJTI

4FMG 5JNFS t 8IFO ZPV VTF UIF TFMG UJNFS GVODUJPO SFDPSEJOH CFHJOT BVUPNBUJDBMMZ JO TFDPOET t :PV DBO EP UIF TBNF PQFSBUJPO CZ VTJOH UIF SFNPUF DPOUSPM ¬QBHF 4FUUJOHT 0GG 4FD

0O TDSFFO EJTQMBZ

$POUFOUT

/POF

%JTBCMF UIF GVODUJPO 3FDPSEJOH CFHJOT BVUPNBUJDBMMZ JO TFDPOET CZ QSFTTJOH UIF 3FDPSEJOH TUBSU TUPQ PS 1)050 CVUUPO

#BDL -JHIU 8IFO TVCKFDU JT MJU GSPN CFIJOE UIJT GVODUJPO XJMM DPNQFOTBUF GPS MJHIUJOH TP UIBU UIF TVCKFDU JT OPU UPP EBSL 4FUUJOHT

0O TDSFFO EJTQMBZ

$POUFOUT

0GG

%JTBCMFT UIF GVODUJPO

0O

#BDLMJHIU DPNQFOTBUJPO JT FYFDVUFE #BDLMJHIU DPNQFOTBUJPO CSJHIUFOT UIF TVCKFDU RVJDLMZ

/POF

#BDL MJHIUJOH JOGMVFODFT SFDPSEJOH XIFO UIF TVCKFDU JT EBSLFS UIBO UIF CBDLHSPVOE 5IF TVCKFDU JT JO GSPOU PG B XJOEPX 5IF QFSTPO UP CF SFDPSEFE JT XFBSJOH XIJUF PS TIJOZ DMPUIFT BOE JT QMBDFE BHBJOTU B CSJHIU CBDLHSPVOE UIF QFSTPO T GBDF JT UPP EBSL UP EJTUJOHVJTI IJT IFS GFBUVSFT 5IF TVCKFDU JT PVUEPPST BOE UIF CBDLHSPVOE JT PWFSDBTU 5IF MJHIU TPVSDFT BSF UPP CSJHIU 5IF TVCKFDU JT BHBJOTU B TOPXZ CBDLHSPVOE t 5IJT GVODUJPO XJMM CF TFU UP i0GGw JO UIF &"4: 2 NPEF t 5IJT GVODUJPO XJMM XPSL POMZ JO .PWJF SFDPSE NPEF

#BDL MJHIU PGG

#BDL MJHIU PO

&OHMJTI @

VTJOH UIF NFOV JUFNT 'BEFS :PV DBO HJWF ZPVS SFDPSEJOH B QSPGFTTJPOBM MPPL CZ VTJOH TQFDJBM FGGFDUT TVDI BT GBEF JO BU UIF CFHJOOJOH PG B TFRVFODF PS GBEF PVU BU UIF FOE PG B TFRVFODF 0O TDSFFO 4FUUJOHT $POUFOUT EJTQMBZ 0GG /POF %JTBCMFT UIF GVODUJPO 0O 'BEFS JT FYFDVUFE 'BEF JO 1SFTT UIF 3FDPSEJOH TUBSU TUPQ CVUUPO XIFO i'BEFSw JT TFU UP i0O w 3FDPSEJOH TUBSUT XJUI B EBSL TDSFFO BOE UIFO UIF JNBHF BOE TPVOE BSF GBEFE JO 'BEF PVU 1SFTT UIF 3FDPSEJOH TUBSU TUPQ CVUUPO 3FDPSEJOH TUPQT BT UIF JNBHF BOE TPVOE BSF GBEFE PVU

'BEF JO BQQSPY TFDPOET

'BEF PVU BQQSPY TFDPOET

t 5IJT GVODUJPO XJMM XPSL POMZ JO .PWJF SFDPSE NPEF t 'BEFS 0O XPSLT POMZ POF UJNF BU UIF CFHJOOJOH BOE FOE PG SFDPSEJOH UIFO SFTFUT UP 'BEFS 0GG

'BDF %FUFDU 5IJT GVODUJPO BVUPNBUJDBMMZ BEKVTUT GBDF GPDVT BOE FYQPTVSF FWFO JO CBDLMJHIU PS EBSL TFUUJOH :PV DBO SFDPSE UIF DMFBS GBDF VOEFS PQUJNBM DPOEJUJPO CZ EFUFDUJOH GBDFT BVUPNBUJDBMMZ 0O TDSFFO 4FUUJOHT $POUFOUT EJTQMBZ 0GG /POF %JTBCMF UIF GVODUJPO 0O 3FDPSET VOEFS UIF PQUJNBM DPOEJUJPO CZ EFUFDUJOH GBDFT BVUPNBUJDBMMZ t %VSJOH SFDPSEJOH UIF TVCKFDU T GBDF DBQUVSFE WJB UIF MFOT JT BVUPNBUJDBMMZ SFDPHOJ[FE BOE 'BDF %FUFDU

BQQFBST PO UIF -$% TDSFFO t 'BDF %FUFDU NJHIU CF EJTQMBZFE FWFO JG UIF TVCKFDU UP CF SFDPSEFE JT B QFSTPO MJLF BMUIPVHI JUT OPU B QFSTPO t 5IF 'BDF %FUFDU JOEJDBUPS PO UIF EJTQMBZ JT OPU SFDPSEFE @ &OHMJTI

(VJEFMJOF t (VJEFMJOF EJTQMBZT DFSUBJO QBUUFSOT PO UIF -$% TDSFFO TP UIBU ZPV DBO FBTJMZ TFU UIF JNBHF DPNQPTJUJPO XIFO SFDPSEJOH NPWJF PS QIPUP JNBHFT t 5IF )% DBNDPSEFS QSPWJEFT UZQFT PG HVJEFMJOFT 4FUUJOHT 0GG

$POUFOUT %JTBCMF UIF GVODUJPO &OBCMFT ZPV UP DFOUFS UIF TVCKFDU GPS QSPQFS SFDPSEJOH &OBCMFT ZPV UP QMBDF UIF TVCKFDU XJUIJO B TBGFUZ [POF XIJDI QSFWFOUT JU CFJOH DVU XIFO FEJUJOH JO GPS MFGU BOE SJHIU BOE GPS UPQ BOE CPUUPN &OBCMFT ZPV UP QMBDF UIF TVCKFDU JO UIF DFOUFS TRVBSF GPS QSPQFS QPTJUJPOJOH

0O TDSFFO EJTQMBZ /POF

t 1PTJUJPOJOH UIF TVCKFDU BU UIF DSPTT QPJOU PG UIF HVJEFMJOF NBLFT B CBMBODFE DPNQPTJUJPO t (VJEFMJOFT BSF OPU SFDPSEFE PO UIF JNBHFT

%JHJUBM ;PPN :PV DBO TFMFDU UIF NBYJNVN [PPN MFWFM JO DBTF ZPV XBOU UP [PPN UP B MFWFM HSFBUFS UIBO 9 UIF EFGBVMU TFUUJOH

EVSJOH SFDPSEJOH /PUF UIBU UIF JNBHF RVBMJUZ EFDSFBTFT XIFO ZPV VTF UIF EJHJUBM [PPN

5IJT SJHIU TJEF PG UIF CBS TIPXT UIF EJHJUBM [PPNJOH GBDUPS 5IF [PPNJOH [POF BQQFBST XIFO ZPV TFMFDU UIF [PPNJOH MFWFM

4FUUJOHT

$POUFOUT

0GG

6Q UP 9 [PPN JT QFSGPSNFE PQUJDBMMZ 6Q UP 9 [PPN JT QFSGPSNFE PQUJDBMMZ BOE BGUFS UIBU VQ UP 9 [PPN JT QFSGPSNFE EJHJUBMMZ ;PPNJOH NPSF UIBO 9 JT BDIJFWFE EJHJUBMMZ VQ UP 9 XIFO DPNCJOFE XJUI PQUJDBM [PPN

0O

0O TDSFFO EJTQMBZ /POF /POF

t 5IF JNBHF RVBMJUZ NBZ EFUFSJPSBUF EFQFOEJOH PO IPX NVDI ZPV [PPN JO PO UIF TVCKFDU t .BYJNVN [PPNJOH NBZ SFTVMU JO MPXFS JNBHF RVBMJUZ

&OHMJTI @

VTJOH UIF NFOV JUFNT 4IBSQOFTT 5IJT GVODUJPO BMMPXT UIF VTFS UP PCUBJO TIBSQFS QIPUP JNBHFT CZ QSPDFTTJOH UIF JNBHF BGUFS JU JT TIPU 4FUUJOHT /PSNBM 4PGU 4IBSQ

$POUFOUT 5IF QIPUP JNBHFT BQQFBS XJUI TIBSQ FEHFT BOE BSF TVJUBCMF GPS QSJOUJOH

0O TDSFFO EJTQMBZ /POF

4NPPUIFT UIF FEHFT PG QIPUP JNBHFT &OIBODFT UP TIBSQFO UIF FEHFT PG QIPUP JNBHFT

t &OIBODJOH TIBSQOFTT XIJMF VTJOH UIF IJHI *40 TFOTJUJWJUZ TFUUJOH NBZ SFTVMU JO HSBJOZ JNBHFT t 5IJT GVODUJPO XJMM XPSL POMZ JO 1IPUP SFDPSE NPEF

$POU 4IPU t $POUJOVPVT TIPU BMMPXT UIF VTFS UP UBLF DPOTFDVUJWF JNBHFT PG B NPWJOH PCKFDU t 3FDPSET JNBHFT DPOUJOVPVTMZ VQ UP UIF TUPSBHF DBQBDJUZ 4FUUJOHT 0GG

$POUFOUT 3FDPSET POMZ POF QIPUP JNBHF

0O TDSFFO EJTQMBZ /POF

/PSNBM 4QFFE 8IFO ZPV QSFTT BOE IPME UIF 1)050 CVUUPO ZPV DBO SFDPSE QIPUPT DPOUJOVPVTMZ 5IF NBYJNVN OVNCFS PG DPOUJOVPVT QIPUP TIPU JO /PSNBM 4QFFE NPEF WBSJFT CZ SFTPMVUJPO )JHI 4QFFE

QIPUP JNBHFT EVSJOH B TFDPOE BSF SFDPSEFE XIFO UIF 1)050 CVUUPO JT QSFTTFE

t 8IFO BO FSSPS TVDI BT NFNPSZ GVMM PDDVST EVSJOH DPOUJOVPVT SFDPSEJOH SFDPSEJOH JT FOEFE BOE BO FSSPS NFTTBHF JT EJTQMBZFE t 5IJT GVODUJPO XJMM XPSL POMZ JO 1IPUP SFDPSE NPEF @ &OHMJTI

*40 t *40 TFOTJUJWJUZ JT B NFBTVSF PG IPX SBQJEMZ UIF )% DBNDPSEFS SFBDUT UP B MJHIU TPVSDF 5IF IJHIFS UIF TFOTJUJWJUZ UIF CSJHIUFS UIF JNBHF JT VOEFS UIF TBNF FYQPTVSF DPOEJUJPO 0O TDSFFO 4FUUJOHT $POUFOUT EJTQMBZ "VUP

"VUPNBUJDBMMZ TFUT UIF *40 UP DPNQFOTBUF GPS WBSJPVT MJHIUJOH DPOEJUJPOT VQ UP

/POF

5IJT NPEF JT SFDPNNFOEFE GPS CSJHIU MJHIUJOH DPOEJUJPOT 5IJT NPEF JT SFDPNNFOEFE GPS NPTU TJUVBUJPOT FYDFQU XIFO MJHIUJOH JT QPPS PS XIFO IJHIFS TIVUUFS TQFFET BSF SFRVJSFE 5IF JNBHF NBZ CF HSBJOZ XIFO TFU UP UIJT NPEF PS IJHIFS 5IF JNBHF NBZ CF HSBJOZ 4IBSQFOJOH NBZ SBJTF UIF OPJTF MFWFM 5IFTF TFUUJOHT XJMM IFMQ CSJHIUFO B TVCKFDU JO EBSL TVSSPVOEJOHT

t )JHIFS *40 TFOTJUJWJUZ NJHIU QSPEVDF B HSBJOZ OPJTZ FGGFDU PO UIF QIPUP JNBHF t "VUP *40 NPEF XJMM BMMPX ZPV UP UBLF RVBMJUZ QIPUP JNBHFT JO NPTU MJHIUJOH DPOEJUJPOT t 5IJT GVODUJPO XJMM XPSL POMZ JO 1IPUP SFDPSE NPEF

1-":#"$, .&/6 *5&.4 :PV DBO TFUVQ UIFTF NFOV JUFNT GPS QMBZJOH NPWJF BOE QIPUP JNBHFT

1MBZ 0QUJPO :PV DBO TFUVQ QMBZ PQUJPOT GPS NPWJF JNBHF QMBZCBDL 4FUUJOHT 1MBZ "MM 1MBZ 0OF 3FQFBU "MM 3FQFBU 0OF

$POUFOUT

0O TDSFFO EJTQMBZ

1MBZT NPWJF JNBHFT DPOUJOVPVTMZ TUBSUJOH GSPN UIF TFMFDUFE POF UP UIF MBTU BOE SFUVSOT UP UIF UIVNCOBJM JOEFY WJFX 1MBZT UIF TFMFDUFE NPWJF JNBHF POMZ BOE SFUVSOT UP UIF UIVNCOBJM JOEFY WJFX 1MBZT BMM UIF NPWJF JNBHFT SFQFBUFEMZ VOUJM UPVDIJOH 3FUVSO UBC 1MBZT SFQFBUFEMZ UIF TFMFDUFE NPWJF JNBHF POMZ VOUJM UPVDIJOH 3FUVSO UBC

&OHMJTI @

VTJOH UIF NFOV JUFNT )JHIMJHIU 4IPXT B TFDUJPO PG SFDPSEFE NPWJF JNBHFT BU SBOEPN BDDPSEJOH UP UIF UPUBM QMBZ UJNF BOE OVNCFS PG GJMFT 0O TDSFFO 4FUUJOHT $POUFOUT EJTQMBZ 4IPXT B TFDUJPO PG B NPWJF JNBHF T UIBU XBT DSFBUFE XJUIJO IPVST PG UIF 3FDFOU %BZ NPTU SFDFOU POF 4IPXT B TFDUJPO PG BMM NPWJF JNBHFT "MM %BZ 5IJT GVODUJPO XJMM XPSL POMZ JO .PWJF QMBZ NPEF

$POU $BQUVSF :PV DBO DPOTFDVUJWFMZ DBQUVSF TUJMM JNBHFT XIJMF QMBZJOH B NPWJF JNBHF CZ QSFTTJOH UIF 1)050 CVUUPO 4FUUJOHT $VU $VU 4FD $VU 4FD

$POUFOUT $BQUVSFT POMZ POF TUJMM JNBHF TUJMM JNBHFT QFS TFDPOE BSF DBQUVSFE XIJMF UIF 1)050 CVUUPO JT QSFTTFE TUJMM JNBHFT QFS TFDPOE BSF DBQUVSFE XIJMF UIF 1)050 CVUUPO JT QSFTTFE

0O TDSFFO EJTQMBZ /POF

t 5IF JNBHFT BSF DBQUVSFE DPOUJOVPVTMZ XIJMF UIF 1)050 CVUUPO JT QSFTTFE 5IF OVNCFS PG UIF DBQUVSFE JNBHFT WBSJFT EFQFOEJOH PO IPX MPOH UIF 1)050 CVUUPO JT QSFTTFE 5IF JOUFSWBM UIBU UIF JNBHFT BSF DBQUVSFE DPOUJOVPVTMZ WBSJFT BDDPSEJOH UP UIF DPOUJOVPVT DBQUVSF PQUJPO t 8IFO BO FSSPS TVDI BT NFNPSZ GVMM PDDVST EVSJOH DPOUJOVPVT DBQUVSJOH DBQUVSJOH JT FOEFE BOE BO FSSPS NFTTBHF JT EJTQMBZFE t 5IF DBQUVSFE JNBHFT EVSJOH QMBZCBDL BSF TUPSFE JO UIF TUPSBHF NFEJB JO VTF t 5IF TFDPOE NFOUJPOFE BCPWF JT UIF BNPVOU PG NPWJF JNBHFT DBQUVSFE GPS TFDPOE GSBNFT

'PS FYBNQMF $VU 4FD DBQUVSFT NPWJF JNBHFT GPS TFDPOE GSBNFT BT UXP TUJMM JNBHFT 5IBU NFBOT POF TUJMM JNBHF DBO CF DBQUVSFE DPOUJOVPVTMZ QFS GSBNFT @ &OHMJTI

4MJEF 4IPX *OUFSWBM :PV DBO TFU UIF TMJEF TIPX JOUFSWBM CFUXFFO TFDPOE BOE TFDPOET 4FUUJOHT 4FD 4FD

0O TDSFFO EJTQMBZ /POF /POF

$POUFOUT 1IPUP JNBHFT QMBZ CBDL JO TFDPOE JOUFSWBMT 1IPUP JNBHFT QMBZ CBDL JO TFDPOE JOUFSWBMT

t -PBEJOH UJNF NBZ WBSZ EFQFOEJOH PO UIF QIPUP JNBHF TJ[F t 5IJT GVODUJPO XJMM XPSL POMZ JO 1IPUP QMBZ NPEF

3FTJ[F :PV DBO EPXOTJ[F UIF SFDPSEFE QIPUP JNBHFT 0OMZ EPXOTJ[JOH JT BWBJMBCMF

5IF SFTJ[FE QIPUP JNBHF JT DSFBUFE BT OFX POF 4FUUJOHT Y Y Y Y Y

0O TDSFFO EJTQMBZ

$POUFOUT 3FTJ[FT UIF QIPUP JNBHFT CZ Y 3FTJ[FT UIF QIPUP JNBHFT CZ Y 3FTJ[FT UIF QIPUP JNBHFT CZ Y 3FTJ[FT UIF QIPUP JNBHFT CZ Y 3FTJ[FT UIF QIPUP JNBHFT CZ Y

t 3FTJ[F JT OPU BWBJMBCMF BU GPMMPXJOH TJUVBUJPOT 1IPUP JNBHFT DBQUVSFE GSPN NPWJF JNBHFT 8IFO UIF SFTPMVUJPO PG PSJHJOBM QIPUP JNBHFT JT TNBMMFS UIBO UIF SFTPMVUJPO PG UIF QIPUP JNBHF UP SFTJ[F 1IPUP JNBHFT SFDPSEFE JO UIF FYUFSOBM EFWJDFT t 5IJT GVODUJPO XJMM XPSL POMZ JO 1IPUP QMBZ NPEF )LOH ,QIR

'JMF *OGP *U TIPXT UIF JNBHF JOGPSNBUJPO :PV DBO WJFX UIF GJMF OBNF DSFBUFE EBUF BOE TJ[F FUD

9,'(2 +'9B 03 'DWH

'XUDWLRQ 6L]H 4XDOLW\

.% +' 6XSHU )LQH

&OHMJTI @

VTJOH UIF NFOV JUFNT 4&55*/( .&/6 *5&.4 :PV DBO TFUVQ UIF EBUF UJNF 04% MBOHVBHF WJEFP PVUQVU BOE EJTQMBZ TFUUJOHT PG UIF )% DBNDPSEFS

%BUF 5JNF 4FU 4FU UIF DVSSFOU EBUF BOE UJNF TP UIFZ DBO CF SFDPSEFE DPSSFDUMZ ¬QBHF

%BUF 5JNF :PV DBO TFU UIF EBUF BOE UJNF UP EJTQMBZ PO UIF -$% TDSFFO t #FGPSF ZPV VTF UIF i%BUF 5JNFw GVODUJPO ZPV NVTU TFU UIF EBUF BOE UJNF ¬QBHF 4FUUJOHT 0GG %BUF 5JNF %BUF 5JNF

$POUFOUT $VSSFOU EBUF BOE UJNF JOGPSNBUJPO JT OPU EJTQMBZFE %JTQMBZT UIF DVSSFOU EBUF %JTQMBZT UIF DVSSFOU UJNF %JTQMBZT UIF DVSSFOU EBUF BOE UJNF

0O TDSFFO EJTQMBZ /POF +"/

+"/

t 5IF EBUF UJNF XJMM SFBE i +"/ w JO UIF GPMMPXJOH DPOEJUJPOT 5IF NPWJF PS QIPUP SFDPSEJOH XBT NBEF CFGPSF TFUUJOH UIF EBUF UJNF JO UIF )% DBNDPSEFS 5IF CVJMU JO SFDIBSHFBCMF CBUUFSZ CFDPNFT XFBL PS EFBE t 5IF UJNF BOE EBUF UIBU NPWJF PS QIPUP JNBHFT BSF SFDPSEFE BSF EJTQMBZFE JO QMBZ NPEF t 5IJT GVODUJPO EFQFOET PO i%BUF 5ZQFw TFUUJOH

%BUF 5ZQF :PV DBO TFMFDU UIF EFTJSFE EBUF UZQF 4FUUJOHT :: .. %% %% .. :: .. %% ::

$POUFOUT %JTQMBZT UIF EBUF JO UIF PSEFS PG ZFBS NPOUI BOE EBZ %JTQMBZT UIF EBUF JO UIF PSEFS PG EBZ NPOUI BOE ZFBS %JTQMBZT UIF EBUF JO UIF PSEFS PG NPOUI EBZ BOE ZFBS

5IJT GVODUJPO EFQFOET PO i%BUF 5JNFw TFUUJOH @ &OHMJTI

0O TDSFFO EJTQMBZ +"/ +"/ +"/

'JMF /P 'JMF OVNCFST BSF BTTJHOFE UP JNBHFT JO UIF PSEFS UIFZ XFSF SFDPSEFE 4FUUJOHT 4FSJFT 3FTFU

$POUFOUT "TTJHOT GJMF OVNCFST JO TFRVFODF FWFO JG UIF NFNPSZ DBSE JT SFQMBDFE XJUI BOPUIFS POF PS BGUFS GPSNBUUJOH PS EFMFUJOH BMM GJMFT 5IF GJMF OVNCFS JT SFTFU XIFO B OFX GPMEFS JT DSFBUFE 3FTFUT UIF GJMF OVNCFS UP FWFO BGUFS GPSNBUUJOH PS EFMFUJOH BMM GJMFT PS JOTFSUJOH B OFX NFNPSZ DBSE 6TF i3FTFUw XIFO UIF GPMEFS BOE GJMFT DBOOPU CF DSFBUFE BOZNPSF CFDBVTF UIF DBNDPSEFS IBT SFBDIFE JUT MJNJU

0O TDSFFO EJTQMBZ /POF /POF

-$% $POUSPM t :PVS )% DBNDPSEFS JT FRVJQQFE XJUI B JODI XJEF DPMPVS -JRVJE $SZTUBM %JTQMBZ -$% TDSFFO XIJDI FOBCMFT ZPV UP WJFX XIBU ZPV BSF SFDPSEJOH PS QMBZJOH CBDL EJSFDUMZ t %FQFOEJOH PO UIF DPOEJUJPOT VOEFS XIJDI ZPV BSF VTJOH UIF )% DBNDPSEFS JOEPPST PS PVUEPPST GPS FYBNQMF ZPV DBO BEKVTU -$% CSJHIUOFTT BOE DPMPVS 4FUUJOHT #SJHIU $PMPVS

$POUFOUT "EKVTUT UIF CSJHIUOFTT PG UIF -$% TDSFFO "EKVTUT UIF DPMPVS PG UIF -$% TDSFFO

0O TDSFFO EJTQMBZ /POF /POF

t 5PVDI EFDSFBTF PS JODSFBTF UBC UP JODSFBTF PS EFDSFBTF UIF WBMVF PG B EFTJSFE JUFN t :PV DBO TFU WBMVFT GPS -$% CSJHIUOFTT BOE DPMPVS CFUXFFO BOE t "EKVTUJOH UIF -$% TDSFFO EPFT OPU BGGFDU UIF CSJHIUOFTT BOE DPMPVS PG UIF JNBHF UP CF SFDPSEFE

-$% &OIBODFS $POUSBTU JT FOIBODFE GPS B DMFBS BOE CSJHIU JNBHF 5IJT FGGFDU JT BMTP JNQMFNFOUFE PVUEPPST JO CSJHIU EBZMJHIU 4FUUJOHT 0GG 0O

$POUFOUT %JTBCMFT UIF GVODUJPO -$% FOIBODFS JT FYFDVUFE

0O TDSFFO EJTQMBZ /POF

t -$% FOIBODFS GVODUJPO EPFT OPU BGGFDU UIF RVBMJUZ PG UIF JNBHF CFJOH SFDPSEFE t 8IFO -$% FOIBODFS XPSLT BU UIF MPX JMMVNJOBUJPO TPNF TUSJQFT NBZ PDDVS PO UIF -$% TDSFFO *U JT OPU B NBMGVODUJPO &OHMJTI @

VTJOH UIF NFOV JUFNT 4UPSBHF 5ZQF :PV DBO SFDPSE NPWJF BOE QIPUP JNBHFT PO UIF CVJMU JO NFNPSZ PS B NFNPSZ DBSE TP ZPV TIPVME TFMFDU UIF EFTJSFE TUPSBHF NFEJB CFGPSF TUBSUJOH SFDPSEJOH PS QMBZCBDL 0O TDSFFO 4FUUJOHT $POUFOUT EJTQMBZ .FNPSZ 3FDPSET PS QMBZ CBDLT JNBHFT JO CVJMU JO NFNPSZ $BSE 3FDPSET PS QMBZ CBDLT JNBHFT JO NFNPSZ DBSE

4UPSBHF *OGP 5IJT TIPXT ZPV UIF TUPSBHF JOGPSNBUJPO UIF TUPSBHF NFEJB VTFE TQBDF BOE BWBJMBCMF TQBDF SFDPSEBCMF UJNF BDDPSEJOH UP UIF RVBMJUZ 4P ZPV DBO GJOE PVU IPX MPOH ZPV XJMM CF BCMF UP SFDPSE PO UIF TUPSBHF NFEJB .BLF TVSF UP TFU UIF BQQSPQSJBUF TUPSBHF NFEJB 4FUUJOHT $POUFOUT .FNPSZ :PV DBO WJFX UIF VTFE TQBDF BWBJMBCMF TQBDF BOE UIF SFDPSEBCMF UJNF PO UIF CVJMU JO NFNPSZ $BSE :PV DBO WJFX UIF VTFE TQBDF BWBJMBCMF TQBDF BOE UIF SFDPSEBCMF UJNF PO UIF NFNPSZ DBSE 0HPRU\

Â&#x2021; 8VHG 0%

Â&#x2021; )UHH 0% >+'@ L 6XSHU )LQH 0LQ

'PSNBU

)LQH

0LQ

1RUPDO

0LQ

:PV DBO VTF UIF i'PSNBUw GVODUJPO UP DPNQMFUFMZ EFMFUF BMM GJMFT BOE PQUJPOT PO UIF TUPSBHF NFEJB JODMVEJOH QSPUFDUFE GJMFT 4FUUJOHT .FNPSZ $BSE t t t t

$POUFOUT :PV DBO GPSNBU UIF CVJMU JO NFNPSZ :PV DBO GPSNBU UIF NFNPSZ DBSE

0O TDSFFO EJTQMBZ /POF /POF

*G ZPV FYFDVUF UIF GPSNBU GVODUJPO BMM GJMFT XJMM CF EFMFUFE DPNQMFUFMZ BOE UIF FSBTFE GJMFT DBOOPU CF SFDPWFSFE 'PSNBUUJOH UIF TUPSBHF NFEJB VTJOH B EJGGFSFOU EFWJDF XJMM DBVTF i3FBE FSSPST w " NFNPSZ DBSE XJUI UIF QSPUFDUJPO UBC TFU UP MPDL XJMM OPU CF GPSNBUUFE ¬QBHF 'PSNBU EPFT OPU QFSGPSN JG UIF CBUUFSZ JT MPX *U JT SFDPNNFOEFE UP VTF UIF "$ QPXFS BEBQUPS XIFO GPSNBUUJOH

@ &OHMJTI

#FFQ 4PVOE :PV DBO UVSO UIF CFFQ TPVOE PO PS PGG 4FUUJOHT 0GG 0O

$POUFOUT $BODFMT UIF CFFQ TPVOE 8IFO PO B CFFQ XJMM TPVOE FWFSZ UJNF B CVUUPO JT QSFTTFE

0O TDSFFO EJTQMBZ /POF /POF

t 5IF CFFQ TPVOE JT PGG XIFO SFDPSEJOH NPWJF t 8IFO CFFQ TPVOE JT TFU UP PGG UIF QPXFS PO PGG TPVOE JT PGG

4IVUUFS 4PVOE :PV DBO UVSO UIF TIVUUFS TPVOE PO PS PGG 4FUUJOHT 0GG 0O

$POUFOUT $BODFMT UIF TIVUUFS TPVOE 8IFO PO UIF TIVUUFS XJMM TPVOE XJUI FBDI QSFTT PG UIF 1)050 CVUUPO

0O TDSFFO EJTQMBZ /POF /POF

"VUP 1PXFS 0GG :PV DBO TFU UIF )% DBNDPSEFS UP BVUPNBUJDBMMZ UVSO PGG XIFO UIFSF JT OP PQFSBUJPO GPS NJOVUFT 4FUUJOHT

$POUFOUT

0GG

5IF )% DBNDPSEFS EPFT OPU UVSO PGG BVUPNBUJDBMMZ 'PS QPXFS TBWJOH QVSQPTFT UIF )% DBNDPSEFS XJMM BVUPNBUJDBMMZ UVSO PGG JG UIFSF JT OP PQFSBUJPO GPS NJOVUFT POMZ JO TUBOECZ NPEF

NJO

0O TDSFFO EJTQMBZ /POF /POF

"VUP 1PXFS 0GG EPFT OPU XPSL BU GPMMPXJOH TJUVBUJPOT XIFO B 64# DBCMF JT DPOOFDUFE XIFO UIF )% $BNDPSEFS JT DPOOFDUFE UP UIF "$ BEBQUFS

&OHMJTI @

VTJOH UIF NFOV JUFNT 3&$ -BNQ :PV DBO UVSO UIF SFDPSEJOH JOEJDBUPS PO UIF GSPOU PG UIF DBNDPSEFS PO PS PGG EVSJOH NPWJF PS QIPUP SFDPSEJOH 0O TDSFFO 4FUUJOHT $POUFOUT EJTQMBZ 0GG /POF 3FDPSEJOH JOEJDBUPS JT PGG 0O /POF 3FDPSEJOH JOEJDBUPS JT PO EVSJOH SFDPSEJOH

3FNPUF 5IJT GVODUJPO BMMPXT ZPV UP FOBCMF PS EJTBCMF UIF SFNPUF DPOUSPM GPS VTF XJUI UIF )% DBNDPSEFS 4FUUJOHT 0GG 0O

$POUFOUT %JTBCMF UIF GVODUJPO

JOEJDBUPS BQQFBST XIFO ZPV VTF UIF SFNPUF DPOUSPM 5IF :PV DBO DPOUSPM UIF )% DBNDPSEFS XJUI UIF SFNPUF DPOUSPM

0O TDSFFO EJTQMBZ /POF /POF

64# $POOFDU 6TJOH UIF 64# DBCMF ZPV DBO DPOOFDU ZPVS )% DBNDPSEFS UP B 1$ UP DPQZ ZPVS NPWJF JNBHFT BOE QIPUP JNBHFT GSPN UIF TUPSBHF NFEJB PS UP B QSJOUFS UP QSJOU ZPVS QIPUP JNBHFT 0O TDSFFO 4FUUJOHT $POUFOUT EJTQMBZ .BTT 4UPSBHF $POOFDU UP B 1$ /POF 1JDU#SJEHF $POOFDU UP B 1JDU#SJEHF QSJOUFS /POF

@ &OHMJTI

57 5ZQF :PV DBO TFMFDU UIF BTQFDU SBUJP EVSJOH QMBZCBDL PO 57 4FUUJOHT

$POUFOUT

0O TDSFFO EJTQMBZ

4FMFDU UP VTF UIF XJEF TDSFFO 57 NPEF 4FMFDU UP VTF UIF TUBOEBSE EJTQMBZ BTQFDU SBUJP

t 5IJT GVODUJPO JT BWBJMBCMF XIFO UIF )% DBNDPSEFS JT DPOOFDUFE UP B 57 t )%.* GFBUVSF DBO SFDPHOJTF UIF 57 UZQF BVUPNBUJDBMMZ BOE BEKVTU UIF WJEFP PVUQVU SFTPMVUJPO BOE NBOVBM

TFUUJOH JT OPU OFDFTTBSZ 4P XIFO BO )%.* DBCMF JT DPOOFDUFE UIJT GVODUJPO JT OPU PQFSBUFE

$PNQPOFOU 0VU :PV DBO TFU UIF DPNQPOFOU WJEFP PVUQVU UP NBUDI UIF 57 ZPV IBWF DPOOFDUFE 4FUUJOHT "VUP 4% Q 4% J

$POUFOUT 5IF WJEFP TJHOBMT BSF PVUQVU JO UIF TBNF GPSNBU BT UIF SFDPSEFE GJMF 6TF UIJT TFUUJOH POMZ XIFO DPOOFDUJOH UP BO )%57 8IFO i"VUPw JT TFMFDUFE BO JOEJDBUPS EPFT OPU BQQFBS PO UIF TDSFFO 5IF SFDPSEFE GJMF JT PVUQVU JO UIF Y Q GPSNBU 4FMFDU JU XIFO DPOOFDUJOH UP BO 4% SFTPMVUJPO 57 UIBU TVQQPSUT QSPHSFTTJWF TDBO 5IF SFDPSEFE GJMF JT PVUQVU JO UIF Y J GPSNBU 4FMFDU XIFO DPOOFDUJOH UP BO 4% SFTPMVUJPO 57 UIBU EPFT OPU TVQQPSU QSPHSFTTJWF TDBO

0O TDSFFO EJTQMBZ /POF

&OHMJTI @

VTJOH UIF NFOV JUFNT 57 %JTQMBZ :PV DBO TFMFDU UIF PVUQVU QBUI PG UIF 04% 0O 4DSFFO %JTQMBZ 5IJT BMMPXT ZPV UP TFU UIF 04% GPS WJFXJOH PO UIF 57 0O TDSFFO 4FUUJOHT $POUFOUT EJTQMBZ 0GG /POF 5IF 04% BQQFBST JO UIF -$% TDSFFO POMZ 0O /POF 5IF 04% BQQFBST JO UIF -$% TDSFFO BOE B 57

%FGBVMU 4FU :PV DBO SFTUPSF NFOV TFUUJOHT UP EFGBVMU JOJUJBM TFUUJOHT BU UIF GBDUPSZ ¬QBHFT *OJUJBMJ[JOH UIF )% DBNDPSEFS TFUUJOHT UP GBDUPSZ EFGBVMUT EPFT OPU BGGFDU SFDPSEFE JNBHFT

-BOHVBHF :PV DBO TFMFDU B EFTJSFE MBOHVBHF UP EJTQMBZ UIF NFOV BOE NFTTBHFT i&OHMJTIw i&TQB×PMw i/PSTLw iɊɭɫɫɤɢɣw w i

i 한국어 w i1PSUVHVÐTw i%BOTLw i ፩ၭ w iýHãWLQDw

i'SBOÎBJTw i/FEFSMBOETw i1PMTLJw ięðûw i4MPWFOTLZw

i%FVUTDIw i4WFOTLBw i.BHZBSw i5àSLÎFw

i-BOHVBHFw PQUJPOT NBZ CF DIBOHFE XJUIPVU QSJPS OPUJDF ¬QBHF

@ &OHMJTI

i*UBMJBOPw i4VPNJw iɍɤɪɚȧɧɫɶɤɚw w i

%FNP %FNPOTUSBUJPO BVUPNBUJDBMMZ TIPXT ZPV UIF NBKPS GVODUJPOT UIBU BSF JODMVEFE XJUI ZPVS )% DBNDPSEFS TP UIBU ZPV NBZ VTF UIFN NPSF FBTJMZ 4FUUJOHT 0GG 0O

$POUFOUT %JTBCMFT UIF GVODUJPO "DUJWBUFT EFNPOTUSBUJPO NPEF BOE TIPXT WBSJPVT GFBUVSFT

0O TDSFFO EJTQMBZ /POF /POF

t 5IF %FNP GVODUJPO XJMM BVUPNBUJDBMMZ DPNF PO BGUFS NJOVUFT IBT QBTTFE JO 45#: NPEF XIFO SFDPSEJOH B NPWJF t :PV DBO SFMFBTF UIF %FNP GVODUJPO BT GPMMPXT 5PVDIJOH BOZ QPJOU PO -$% TDSFFO DIBOHJOH NPEF QSFTTJOH UIF CVUUPO 3FDPSEJOH TUBSU TUPQ 2 .&/6 %JTQMBZ L$)&$, &"4: 2 PS 1)050 FUD

t 8IFO UIF "VUP 1PXFS 0GG GVODUJPO JT TFU UP NJO UIF "VUP 1PXFS 0GG GVODUJPO XPSLT XJUI QSJPSJUZ SBUIFS UIBO %FNP GVODUJPO *G ZPV FYFDVUF %FNP GVODUJPO SFMFBTF UIF "VUP 1PXFS 0GG GVODUJPO ¬QBHF

"OZOFU )%.* $&$

"OZOFU JT BO "7 OFUXPSL TZTUFN UIBU FOBCMFT ZPV UP DPOUSPM BMM DPOOFDUFE 4BNTVOH "7 EFWJDFT XJUI BO "OZOFU

TVQQPSUFE 4BNTVOH 57 T SFNPUF DPOUSPM :PV DBO VTF UIF "OZOFU GVODUJPO CZ DPOOFDUJOH UIF )% DBNDPSEFS UP BO "OZOFU TVQQPSUFE 57 XJUI BO )%.* DBCMF BOE CZ TFUUJOH i"OZOFU )%.* $&$ w UP i0O w 'PS NPSF EFUBJMT SFGFS UP ZPVS 4BNTVOH 57 T VTFS NBOVBM 4FUUJOHT 0GG 0O

$POUFOUT %JTBCMFT UIF GVODUJPO "OZOFU JT FYFDVUFE

0O TDSFFO EJTQMBZ /POF /POF

&OHMJTI @

FEJUJOH NPWJF JNBHFT :PV DBO FEJU SFDPSEFE NPWJF JNBHFT JO WBSJPVT XBZT .PWJF JNBHF FEJUJOH DBOOPU CF QFSGPSNFE XIFO UIF CBUUFSZ JT MPX

%&-&5*/( " 4&$5*0/ 0' " .07*& *."(& t 5IJT GVODUJPO XPSLT POMZ JO 1MBZ NPEF ¬QBHF t " NPWJF JNBHF DBO CF QBSUJBMMZ EFMFUFE 5PVDI )% .PWJF )% UBC PS 4% .PWJF 4% UBC t 5IF UIVNCOBJM JOEFY WJFX BQQFBST BDDPSEJOHMZ 5PVDI .FOV UBC i&EJUw i1BSUJBM %FMFUF w t *G UIF JUFN JT OPU PO UIF TDSFFO UPVDI VQ EPXO UBC UP TDSPMM VQ PS EPXO UP UIF OFYU HSPVQ PG PQUJPOT 5PVDI B EFTJSFE NPWJF JNBHF t 5IF TFMFDUFE NPWJF JNBHF XJMM CF QBVTFE 4FBSDI UIF TUBSU QPJOU PG EFMFUJPO CZ UPVDIJOH QMBZCBDL SFMBUFE PS

UBC 5PVDI i 3 w UBC BU UIF TUBSU QPJOU t 5IF TUBSU QPJOU PG EFMFUJPO XJMM CF NBSRVFF XJUI i w 5PVDI QMBZCBDL SFMBUFE PS UBC UP TFBSDI UIF FOE QPJOU PG EFMFUJPO 5PVDI %FMFUF UBC BU UIF FOE QPJOU t 5IF FOE QPJOU PG EFMFUJPO XJMM CF NBSRVFF XJUI i w 5PVDI $VUUJOH UBC 5PVDI i:FT w t 5IF TFMFDUFE QBSU PG UIF NPWJF JNBHF XJMM CF EFMFUFE

@ &OHMJTI

0LQ

3URWHFW &RS\

(GLW &RQW &DSWXUH

(GLW 3DUWLDO 'HOHWH 'LYLGH

&RPELQH

3DUWLDO 'HOHWH

0LQ

t t t t t t

t

:PV DBO OPU EFMFUF UIF QSPUFDUFE JNBHFT :PV NVTU GJSTU SFMFBTF UIF QSPUFDU GVODUJPO UP EFMFUF JU ¬QBHF " EFMFUFE QBSU PG UIF NPWJF JNBHF DBO OPU CF SFDPWFSFE *G ZPV XBOU UP FEJU GSPN UIF GJSTU UPVDI 3FUVSO UBC 1BSUJBM EFMFUJPO JT OPU BWBJMBCMF XIFO UIF UIF TFDUJPO PS SFNBJOJOH UJNF JT MFTT UIBO TFDPOET 8IFO QBSUJBM EFMFUJPO JT FYFDVUFE SFMBUFE NPWJF JNBHFT JO UIF QMBZMJTU BSF QBSUJBMMZ EFMFUFE :PV DBO BMTP BDDFTT JU CZ VTJOH UIF 2 .&/6 CVUUPO 1SFTT UIF 2 .&/6 CVUUPO 5PVDI i&EJU w 5PVDI i1BSUJBM %&- w *G UIF TJ[F PG UIF TFMFDUFE GJMF JT CJHHFS UIBO UIF SFNBJOJOH TQBDF PG UIF CVJMU JO NFNPSZ PS UIF NFNPSZ DBSE UIF TFMFDUFE GJMF DBOOPU CF FEJUFE t &EJUJOH UJNF WBSJFT EFQFOEJOH PO UIF TJ[F PG UIF WJEFP GJMF BOE DBO UBLF VQ UP UFOT PG NJOVUFT

%*7*%*/( " .07*& *."(& t 5IJT GVODUJPO XPSLT POMZ JO 1MBZ NPEF ¬QBHF t :PV DBO EJWJEF B NPWJF JNBHF BT NBOZ UJNFT BT ZPV XBOU JO PSEFS UP EFMFUF B TFDUJPO ZPV OP MPOHFS OFFE 5IF NPWJF JNBHFT XJMM CF EJWJEFE JO HSPVQT PG UXP

(GLW 3DUWLDO 'HOHWH 'LYLGH

5P EJWJEF B NPWJF JNBHF 5PVDI )% .PWJF )% UBC PS 4% .PWJF 4% UBC t 5IF UIVNCOBJM JOEFY WJFX BQQFBST BDDPSEJOHMZ 5PVDI .FOV UBC i&EJUw i%JWJEF w t *G UIF NPWJF JNBHF UIVNCOBJM ZPV XBOU UP FEJU JT OPU PO UIF TDSFFO UPVDI VQ UIF QBHF 5PVDI B EFTJSFE NPWJF JNBHF t 5IF TFMFDUFE NPWJF JNBHF XJMM CF QBVTFE

PS EPXO

&RPELQH

UBC UP DIBOHF

¬$POUJOVFE

&OHMJTI @

FEJUJOH NPWJF JNBHFT

0LQ

4FBSDI UIF QPJOU PG EJWJTJPO CZ UPVDIJOH QMBZCBDL SFMBUFE PS UBCT

t :PV DBO KVNQ EJSFDUMZ UP UIF EJWJTJPO QPJOU CZ UPVDIJOH UIF EFTJSFE QPJOU PO UIF 'LYLGH QSPHSFTT CBS 5PVDI QBVTF UBC BU UIF QPJOU PG EJWJTJPO UIFO UPVDI $VUUJOH UBC t 5IF NFTTBHF i%JWJEF B GJMF BU UIJT QPJOU w XJMM BQQFBS 5PVDI i:FT w t 5IF TFMFDUFE NPWJF JNBHF JT EJWJEFE JOUP UXP NPWJF JNBHFT :PV DBO LFFQ EJWJEJOH JNBHFT BT MPOH BT UIFZ BSF TFDPOET JO MFOHUI t *G ZPV XBOU UP EFMFUF BO VOXBOUFE TFDUJPO PG B NPWJF JNBHF EJWJEF UIF NPWJF GJSTU BOE UIFO EFMFUF UIF JNBHF TFDUJPO ZPV OP MPOHFS OFFE "GUFS EJWJEJOH UIF NPWJF JNBHF ZPV DBO BMTP DPNCJOF PUIFS EFTJSFE NPWJF JNBHFT TFF QBHF

t 5IF TFDPOE JNBHF PG UIF EJWJEFE JNBHF XJMM CF EJTQMBZFE BU UIF FOE PG UIF UIVNCOBJM JOEFY t *G UIF TJ[F PG UIF TFMFDUFE GJMF JT CJHHFS UIBO UIF SFNBJOFE TQBDF PG UIF CVJMU JO NFNPSZ PS UIF NFNPSZ DBSE UIF TFMFDUFE GJMF DBOOPU CF FEJUFE 'HOHWH

5P EFMFUF B NPWJF JNBHF ZPV OP MPOHFS OFFE 5PVDI .FOV UBC i%FMFUF w 5PVDI i4FMFDU 'JMFTw 5PVDI B EFTJSFE NPWJF JNBHF UP TFMFDU JU GPS EFMFUJPO 5IF JOEJDBUPS JT EJTQMBZFE PO UIF TFMFDUFE JNBHFT 5PVDIJOH UIF UIVNCOBJM JNBHF UPHHMFT CFUXFFO UIF UIVNCOBJM JNBHF CFJOH TFMFDUFE GPS EFMFUJPO UIF JOEJDBUPS BQQFBST PO JNBHF PS OPU UIF JOEJDBUPS JT SFNPWFE GSPN JNBHF 5PVDI 0, 2.

UBC 5IF NFTTBHF BDDPSEJOH UP UIF TFMFDUFE PQUJPO XJMM BQQFBS 5PVDI i:FT w t 5IF TFMFDUFE JNBHFT XJMM CF EFMFUFE

@ &OHMJTI

6HOHFW )LOHV $OO )LOHV

'HOHWH

0LQ

2.

¬$POUJOVFE

&YBNQMF :PV DBO EJWJEF B NPWJF JNBHF JOUP UXP JO PSEFS UP EFMFUF B TFDUJPO ZPV OP MPOHFS OFFE

#FGPSF EJWJEJOH

a VHFRQGV "GUFS JNBHF JT EJWJEFE BU TFDPOE QPJOU a VHFRQGV a VHFRQGV t 5IF NPWJF JNBHF JT EJWJEFE JOUP UXP NPWJF JNBHFT

"GUFS EFMFUJOH GJSTU JNBHF a VHFRQGV t t t t t t t

:PV DBO OPU EFMFUF UIF QSPUFDUFE JNBHFT :PV NVTU GJSTU SFMFBTF UIF QSPUFDU GVODUJPO UP EFMFUF JU ¬QBHF 4FBSDI BOE TMPX QMBZCBDL BSF VTFGVM XIFO EFTJHOBUJOH EJWJTJPO QPJOUT 5IF EJWJTJPO QPJOU NBZ ESJGU CFGPSF PS BGUFS UIF EFTJHOBUFE QPJOU CZ BQQSPYJNBUFMZ TFDPOET " NPWJF JNBHF XIPTF SFDPSEJOH UJNF JT TFDPOET PS MFTT DBOOPU CF EJWJEFE 1IPUP JNBHFT DBOOPU CF EJWJEFE 8IFO UIF NPWJF JNBHF JT EJWJEFE UIF GJSTU JNBHF PG UIF EJWJEFE JNBHFT JT TUPSFE JO UIF QMBZMJTU BHBJO :PV DBO BMTP BDDFTT JU CZ VTJOH UIF 2 .&/6 CVUUPO 1SFTT UIF 2 .&/6 CVUUPO 5PVDI i&EJU w 5PVDI i%JWJEF w t &EJUJOH UJNF WBSJFT EFQFOEJOH PO UIF TJ[F PG UIF WJEFP GJMF BOE DBO UBLF VQ UP UFOT PG NJOVUFT &OHMJTI @

FEJUJOH NPWJF JNBHFT $0.#*/*/( 580 .07*& *."(&4 t 5IJT GVODUJPO XPSLT POMZ JO 1MBZ NPEF ¬QBHF t :PV DBO DPNCJOF UXP EJGGFSFOU NPWJF JNBHFT 5PVDI )% .PWJF )% UBC PS 4% .PWJF 4% UBC t 5IF UIVNCOBJM JOEFY WJFX BQQFBST BDDPSEJOHMZ 5PVDI .FOV UBC i&EJUw i$PNCJOF w t *G UIF NPWJF JNBHF UIVNCOBJM ZPV XBOU UP FEJU JT OPU PO UIF TDSFFO UPVDI VQ PS EPXO UBC UP TDSPMM UP UIF OFYU HSPVQ PG PQUJPOT 5PVDI NPWJF JNBHFT UP CF DPNCJOFE t 5IF 3 JOEJDBUPS JT EJTQMBZFE PO UIF TFMFDUFE NPWJF JNBHFT t 5PVDIJOH UIF NPWJF UIVNCOBJM JNBHF UPHHMFT CFUXFFO UIF NPWJF UIVNCOBJM JNBHF CFJOH TFMFDUFE GPS DPNCJOJOH UIF 3 JOEJDBUPS BQQFBST PO JNBHF PS OPU UIF 3

JOEJDBUPS JT SFNPWFE GSPN JNBHF

t :PV DBOOPU TFMFDU BOE DPNCJOF UXP EJGGFSFOU SFTPMVUJPO JNBHFT 5PVDI 0, 2.

UBC 5IF NFTTBHF i$PNCJOF TFMFDUFE UXP GJMFT w XJMM BQQFBS 5PVDI i:FT w t 5IF UIVNCOBJM PG UIF GJSTU NPWJF JNBHF XJMM BQQFBS JO UIF DPNCJOFE NPWJF JNBHF t *U JT JNQPTTJCMF UP DPNCJOF NPWJF JNBHFT XJUI EJGGFSFOU SFTPMVUJPO 'PS FYBNQMF JG UIFSF JT POF NPWJF JNBHF SFDPSEFE <)%> Q BOE UXP NPWJF JNBHFT BU <)%> J ZPV DBO DPNCJOF POMZ UXP NPWJF JNBHFT BU <)%> J OPU UIF NPWJF JNBHF BU <)%> Q t :PV DBO OPU DPNCJOF UIF QSPUFDUFE JNBHFT :PV NVTU GJSTU SFMFBTF UIF QSPUFDU GVODUJPO UP QBTUF JU ¬QBHF t 5IF UXP NPWJF JNBHFT BSF DPNCJOFE JO UIF TFMFDUFE PSEFS BOE SFTUPSFE BT B NPWJF JNBHF t 5IF PSJHJOBM NPWJF JNBHFT XJMM OPU CF QSFTFSWFE t 1IPUP JNBHFT DBOOPU CF DPNCJOFE t :PV DBO BMTP BDDFTT UIF DPNCJOF GFBUVSF CZ VTJOH UIF 2 .&/6 CVUUPO 1SFTT UIF 2 .&/6 CVUUPO 5PVDI i&EJU w 5PVDI i$PNCJOF w t " NBYJNVN PG NPWJF JNBHFT DBO CF DPNCJOFE BU B UJNF t *G UIF UPUBM TJ[F PG UIF UXP TFMFDUFE GJMFT GPS $PNCJOF JT CJHHFS UIBO UIF SFNBJOJOH TQBDF PG UIF CVJMU JO NFNPSZ PS UIF NFNPSZ DBSE UIF TFMFDUFE GJMFT DBOOPU CF FEJUFE t &EJUJOH UJNF WBSJFT EFQFOEJOH PO UIF TJ[F PG UIF WJEFP GJMF BOE DBO UBLF VQ UP UFOT PG NJOVUFT

@ &OHMJTI

3URWHFW &RS\

(GLW &RQW &DSWXUH

(GLW 3DUWLDO 'HOHWH 'LYLGH

&RPELQH

0LQ

&RPELQH

2.

1-":-*45 8IBU T UIF i1MBZMJTU w 5IF QMBZMJTU JT DSFBUFE CZ HBUIFSJOH ZPVS GBWPSJUF SFDPSEFE NPWJF JNBHFT 4JODF UIF QMBZMJTU JT OPU DSFBUFE CZ DPQZJOH EBUB JU XJMM DPOTVNF MJUUMF PG UIF TUPSBHF DBQBDJUZ 8IFO DSFBUJOH PS EFMFUJOH B QMBZMJTU UIF PSJHJOBM NPWJF JNBHF XJMM OPU CF FSBTFE *O BEEJUJPO BEEJOH PS EFMFUJOH NPWJF JNBHFT GSPN B QMBZMJTU EPFT OPU BGGFDU UIF PSJHJOBM NPWJF JNBHFT

-$1 0RYLH LPDJH

0RYLH LPDJH

-$1 0RYLH LPDJH

0RYLH LPDJH

0RYLH LPDJH

0RYLH LPDJH

0RYLH LPDJH

1MBZMJTU

&OHMJTI @

FEJUJOH NPWJF JNBHFT $SFBUJOH UIF QMBZMJTU t 5IJT GVODUJPO XPSLT POMZ JO 1MBZ NPEF ¬QBHF t :PV DBO DSFBUF B QMBZMJTU PO UIJT )% DBNDPSEFS CZ HBUIFSJOH ZPVS GBWPSJUFT GSPN UIF SFDPSEFE NPWJF JNBHFT 4JODF UIF QMBZMJTU JT OPU DSFBUFE CZ DPQZJOH EBUB ZPV XJMM DPOTVNF MFTT TUPSBHF DBQBDJUZ 1SFTT UIF 2 .&/6 CVUUPO 5PVDI i1MBZMJTUw i 1 w i J w i 1 w PS i4MPX .PUJPOw DSFBUJOH QMBZMJTU BDDPSEJOH UP NPWJF SFTPMVUJPO .FOV UBC i"EE w 4FMFDU BOE UPVDI NPWJF JNBHFT UP BEE UP UIF QMBZMJTU t 5IF 3 JOEJDBUPS JT EJTQMBZFE PO UIF TFMFDUFE NPWJF JNBHFT t 5PVDIJOH UIF NPWJF UIVNCOBJM JNBHF UPHHMFT CFUXFFO UIF NPWJF UIVNCOBJM JNBHF CFJOH TFMFDUFE GPS DSFBUJOH B QMBZMJTU UIF 3 JOEJDBUPS BQQFBST PO JNBHF PS OPU UIF 3 JOEJDBUPS JT SFNPWFE GSPN JNBHF

5PVDI 0, 2.

UBC t 5IF NFTTBHF i"EE TFMFDUFE GJMFT UP 1MBZMJTU w XJMM BQQFBS 5PVDI i:FT w t 8IFO DSFBUJPO PG B QMBZMJTU JT DPNQMFUFE UIF UIVNCOBJM WJFX PG UIF QMBZMJTU XJMM BQQFBS t :PV DBO QMBZ B QMBZMJTU JO UIF TBNF NBOOFS BT ZPV QMBZ B NPWJF JNBHF ¬QBHF t *G GSFF TQBDF BWBJMBCMF PO UIF TUPSBHF JT JOTVGGJDJFOU DSFBUJPO PG OFX QMBZMJTU NBZ OPU CF QPTTJCMF %FMFUF VOOFDFTTBSZ NPWJF JNBHFT t 6Q UP NPWJF JNBHFT DBO CF JODMVEFE JO B QMBZMJTU t :PV DBOOPU TFMFDU UXP EJGGFSFOU SFTPMVUJPO JNBHFT GPS QMBDFNFOU JO UIF 1MBZMJTU t :PV DBO BEE B NPWJF JNBHF UP UIF QMBZMJTU JO UIF TBNF NBOOFS BT BCPWF t :PV DBO BMTP BDDFTT JU CZ VTJOH UIF .FOV UBC 5PVDI .FOV UBC i1MBZMJTU w

@ &OHMJTI

6WRUDJH

+LJKOLJKW

'HOHWH

(GLW

3OD\OLVW

)LOH ,QIR

3OD\OLVW

3

L

3

6ORZ 0RWLRQ

0LQ

$GG $UUDQJH

'HOHWH

$GG

0LQ

2.

"SSBOHJOH UIF PSEFS PG NPWJF JNBHFT XJUIJO B QMBZMJTU :PV DBO BSSBOHF NPWJF JNBHFT XJUIJO B QMBZMJTU CZ NPWJOH UIFN UP UIF EFTJSFE QPTJUJPOT 5PVDI i1MBZMJTUw i 1 w i J w i 1 w PS i4MPX .PUJPOw BSSBOHJOH $UUDQJH QMBZMJTU BDDPSEJOH UP NPWJF SFTPMVUJPO .FOV UBC i"SSBOHF w 5PVDI UIF NPWJF JNBHF UP CF NPWFE t 5IF 3 JOEJDBUPS JT EJTQMBZFE PO UIF TFMFDUFE NPWJF JNBHFT

t 5PVDIJOH UIF NPWJF UIVNCOBJM JNBHF UPHHMFT CFUXFFO UIF NPWJF UIVNCOBJM JNBHF CFJOH TFMFDUFE GPS BSSBOHJOH XJUIJO UIF QMBZMJTU UIF 3 JOEJDBUPS BQQFBST PO JNBHF

PS OPU UIF 3 JOEJDBUPS JT SFNPWFE GSPN JNBHF

t " CBS XJMM BMTP BQQFBS OFYU UP UIF NPWJF JNBHF 5PVDI QSFWJPVT PS OFYU UBC UP NPWF UIF CBS UP UIF QPTJUJPO PG ZPVS DIPJDF UIFO UPVDI 0, t 5IF NFTTBHF i"SSBOHF TFMFDUFE B GJMF UP UIJT PSEFS w XJMM BQQFBS 5PVDI i:FT w t 5IF TFMFDUFE NPWJF JNBHF XJMM CF NPWFE UP UIF OFX QPTJUJPO

0LQ

2.

2.

UBC

%FMFUJOH NPWJF JNBHFT GSPN B QMBZMJTU :PV DBO EFMFUF VOEFTJSFE NPWJF JNBHFT XJUIJO UIF QMBZMJTU 5PVDI i1MBZMJTUw i 1 w i J w i 1 w PS i4MPX .PUJPOw EFMFUJOH 'HOHWH QMBZMJTU BDDPSEJOH UP NPWJF SFTPMVUJPO .FOV UBC i%FMFUF w 5PVDI NPWJF JNBHF UP CF EFMFUFE t 5IF JOEJDBUPS JT EJTQMBZFE PO UIF TFMFDUFE NPWJF JNBHFT

t 5PVDIJOH UIF NPWJF UIVNCOBJM JNBHF UPHHMFT CFUXFFO UIF NPWJF UIVNCOBJM JNBHF CFJOH TFMFDUFE GPS EFMFUJOH GSPN UIF QMBZMJTU UIF JOEJDBUPS BQQFBST PO JNBHF PS OPU UIF JOEJDBUPS JT SFNPWFE GSPN JNBHF

5PVDI 0, 2.

UBC t 5IF NFTTBHF i%FMFUF TFMFDUFE GJMFT GSPN 1MBZMJTU 0SJHJOBM GJMF JT OPU EFMFUFE w XJMM BQQFBS 5PVDI i:FT w t 5IF TFMFDUFE QMBZMJTUT XJMM CF EFMFUFE

0LQ

2.

&OHMJTI @

JNBHF NBOBHFNFOU 5IJT DIBQUFS EFTDSJCFT JOGPSNBUJPO BCPVU NPWJF PS QIPUP GJMF NBOBHFNFOU UPPMT TVDI BT QSPUFDUJPO EFMFUJPO BOE DPQZ *NBHF NBOBHFNFOU DBOOPU CF QFSGPSNFE XIFO UIF CBUUFSZ JT MPX

1305&$5*0/ '30. "$$*%&/5"- &3"463& t 5IJT GVODUJPO XPSLT POMZ JO 1MBZ NPEF ¬QBHF t :PV DBO QSPUFDU JNQPSUBOU JNBHFT GSPN BDDJEFOUBM FSBTVSF t *G ZPV FYFDVUF GPSNBUUJOH BMM GJMFT JODMVEJOH QSPUFDUFE GJMFT XJMM CF FSBTFE ¬QBHF

0LQ

3URWHFW &RS\

5PVDI )% .PWJF )% UBC 4% .PWJF 4% UBC PS 1IPUP UBC 5PVDI .FOV UBC i1SPUFDU w 5PVDI UIF EFTJSFE PQUJPO UBC PO UIF TDSFFO i4FMFDU 'JMFTw i"MM 0Ow PS i"MM 0GGw

t i4FMFDU 'JMFTw 1SPUFDUT JOEJWJEVBM JNBHFT 5P QSPUFDU JOEJWJEVBM JNBHFT UPVDI JNBHFT JO PSEFS UP TFMFDU UIFN GPS QSPUFDUJPO 5IF JOEJDBUPS JT EJTQMBZFE PO UIF TFMFDUFE NPWJF JNBHFT 5PVDIJOH UIF UIVNCOBJM JNBHF UPHHMFT CFUXFFO UIF UIVNCOBJM JNBHF CFJOH TFMFDUFE GPS QSPUFDUJPO UIF JOEJDBUPS BQQFBST PO JNBHF PS OPU UIF JOEJDBUPS JT SFNPWFE GSPN JNBHF 5PVDI 0, 2.

UBC t i"MM 0Ow 1SPUFDUT BMM JNBHFT 5P QSPUFDU BMM JNBHFT TJNQMZ UPVDI i"MM 0O w t i"MM 0GGw 3FMFBTFT UIF QSPUFDUFE JNBHFT BMM BU PODF 5IF NFTTBHF BDDPSEJOH UP UIF TFMFDUFE PQUJPO XJMM BQQFBS 5PVDI i:FT w t "GUFS DPNQMFUJOH UIF TFMFDUFE JNBHFT XJMM CF QSPUFDUFE t *U PQFSBUFT JEFOUJDBMMZ JO UIF GVMM JNBHF EJTQMBZ 1IPUP QMBZ NPEF POMZ

t 1SPUFDUFE JNBHFT XJMM TIPX UIF JOEJDBUPS XIFO UIFZ BSF EJTQMBZFE t *G UIF XSJUF QSPUFDUJPO UBC PO UIF NFNPSZ DBSE JT TFU UP MPDL ZPV DBOOPU TFU JNBHF QSPUFDUJPO ¬QBHF

@ &OHMJTI

(GLW &RQW &DSWXUH

3URWHFW 6HOHFW )LOHV $OO 2Q

$OO 2II

3URWHFW

0LQ

2.

%&-&5*/( *."(&4 t 5IJT GVODUJPO XPSLT POMZ JO 1MBZ NPEF ¬QBHF t :PV DBO FSBTF UIF JNBHFT SFDPSEFE PO UIF TUPSBHF NFEJB t "O JNBHF UIBU IBT CFFO EFMFUFE DBOOPU CF SFDPWFSFE 5PVDI )% .PWJF )% UBC 4% .PWJF 4% UBC PS 1IPUP UBC 5PVDI .FOV UBC i%FMFUF w 5PVDI UIF EFTJSFE PQUJPO UBC PO UIF TDSFFO i4FMFDU 'JMFTw PS i"MM 'JMFTw

t i4FMFDU 'JMFTw %FMFUFT JOEJWJEVBM JNBHFT 5P EFMFUF JOEJWJEVBM JNBHFT UPVDI JNBHFT JO PSEFS UP TFMFDU UIFN GPS EFMFUJPO 5IF JOEJDBUPS JT EJTQMBZFE PO UIF TFMFDUFE JNBHFT 5PVDIJOH UIF UIVNCOBJM JNBHF UPHHMFT CFUXFFO UIF UIVNCOBJM JNBHF CFJOH TFMFDUFE GPS EFMFUJPO UIF JOEJDBUPS BQQFBST PO JNBHF PS OPU UIF JOEJDBUPS JT SFNPWFE GSPN JNBHF 5PVDI 0, 2.

UBC t i"MM 'JMFTw %FMFUFT BMM JNBHFT 5P EFMFUF BMM JNBHFT TJNQMZ UPVDI i"MM 'JMFT w 5IF NFTTBHF BDDPSEJOH UP UIF TFMFDUFE PQUJPO XJMM BQQFBS 5PVDI i:FT w t "GUFS DPNQMFUJPO TFMFDUFE JNBHFT XJMM CF EFMFUFE "DDPSEJOHMZ UIF EFMFUFE GJMFT BMTP EJTBQQFBS JO QMBZMJTU ¬QBHF

t *U PQFSBUFT JEFOUJDBMMZ JO UIF GVMM JNBHF EJTQMBZ 1IPUP QMBZ NPEF POMZ

t 5P QSPUFDU JNQPSUBOU JNBHFT GSPN BDDJEFOUBM EFMFUJPO BDUJWBUF UIF JNBHF QSPUFDUJPO ¬QBHF t 5IF QSPUFDU JOEJDBUPS XJMM CMJOL JG ZPV USZ UP EFMFUF B JNBHF UIBU XBT QSFWJPVTMZ QSPUFDUFE ¬QBHF :PV NVTU SFMFBTF UIF QSPUFDU GVODUJPO UP EFMFUF UIF JNBHF t *G UIF XSJUF QSPUFDUJPO UBC PO UIF NFNPSZ DBSE JT TFU UP MPDL ZPV DBOOPU EFMFUF ¬QBHF t :PV DBO BMTP GPSNBU UIF TUPSBHF NFEJB UP EFMFUF BMM UIF JNBHFT BU PODF #F BXBSF UIBU BMM GJMFT BOE EBUB JODMVEJOH QSPUFDUFE GJMFT XJMM CF FSBTFE ¬QBHF t :PV DBO BMTP BDDFTT JU CZ VTJOH UIF 2 .&/6 CVUUPO 1SFTT UIF 2 .&/6 CVUUPO 5PVDI i%FMFUF w

0LQ

3OD\ 2SWLRQ +LJKOLJKW

3OD\OLVW 'HOHWH

'HOHWH 6HOHFW )LOHV $OO )LOHV

'HOHWH

0LQ

2.

&OHMJTI @

JNBHF NBOBHFNFOU $01:*/( *."(&4 t 5IJT GVODUJPO XPSLT POMZ JO 1MBZ NPEF ¬QBHF t :PV DBO DPQZ JNBHFT CFUXFFO UIF CVJMU JO NFNPSZ BOE B NFNPSZ DBSE t *NBHFT BSF DPQJFE UP UIF EFTUJOBUJPO TUPSBHF XIJMF MFBWJOH PSJHJOBM JNBHFT JO UIF TPVSDF TUPSBHF *U DPQJFT GSPN UIF DVSSFOUMZ VTFE TUPSBHF UP BOPUIFS 'PS FYBNQMF JG UIF CVJMU JO NFNPSZ JT VTFE JU DPQJFT UP B NFNPSZ DBSE

t .BLF TVSF UIBU UIF NFNPSZ DBSE IBT CFFO JOTFSUFE 5PVDI )% .PWJF )% UBC PS 4% .PWJF 4% UBC 1IPUP UBC 5PVDI .FOV UBC i$PQZ w 5PVDI UIF EFTJSFE PQUJPO UBC PO UIF TDSFFO i4FMFDU 'JMFTw PS i"MM 'JMFTw

t i4FMFDU 'JMFTw $PQZ JOEJWJEVBM JNBHFT 5PVDI JNBHFT ZPV XBOU UP DPQZ 5IF JOEJDBUPS JT EJTQMBZFE PO UIF TFMFDUFE JNBHFT 5PVDIJOH UIF UIVNCOBJM JNBHF UPHHMFT CFUXFFO UIF UIVNCOBJM JNBHF CFJOH TFMFDUFE GPS DPQZJOH UIF JOEJDBUPS BQQFBST PO JNBHF PS OPU UIF JOEJDBUPS JT SFNPWFE GSPN JNBHF 5PVDI 0, 2.

UBC t i"MM 'JMFTw $PQZ BMM JNBHFT 5P DPQZ BMM JNBHFT TJNQMZ UPVDI i"MM 'JMFT w 5IF NFTTBHF BDDPSEJOH UP UIF TFMFDUFE PQUJPO XJMM BQQFBS 5PVDI i:FT w t "GUFS DPNQMFUJPO TFMFDUFE JNBHFT XJMM CF DPQJFE t 5PVDI i$BODFMw UP DBODFM EVSJOH JNBHF DPQZJOH t *U PQFSBUFT JEFOUJDBMMZ JO UIF GVMM JNBHF EJTQMBZ 1IPUP QMBZ NPEF POMZ

t *G GSFF TQBDF BWBJMBCMF PO UIF TUPSBHF JT JOTVGGJDJFOU DPQZJOH NBZ OPU CF QPTTJCMF %FMFUF VOOFDFTTBSZ JNBHFT ¬QBHF t #F TVSF UP DPOOFDU "$ QPXFS BEBQUPS XIFO VTJOH DPQZ GVODUJPO

@ &OHMJTI

0LQ

3URWHFW &RS\

(GLW &RQW &DSWXUH

&RS\ 6HOHFW )LOHV $OO )LOHV

0LQ

&RS\

5HPDLQ 0%

2.

3FNBJOJOH DBQBDJUZ PG EFTUJOBUJPO TUPSBHF

QSJOUJOH QIPUP JNBHFT :PV DBO QSJOU QIPUP JNBHFT CZ JOTFSUJOH UIF %10' TFUUJOH DBSE UP B %10' DPNQBUJCMF QSJOUFS PS DPOOFDUJOH UIF )% DBNDPSEFS UP UIF 1JDU#SJEHF QSJOUFS

%10' 13*/5 4&55*/( t 1SJOU .BSL %10' DBO CF TFU POMZ PO QIPUP JNBHFT TUPSFE JO UIF NFNPSZ DBSE t 5IJT GVODUJPO XPSLT POMZ JO 1MBZ NPEF ¬QBHF t 5IJT )% DBNDPSEFS JT DPNQBUJCMF XJUI %10' %JHJUBM 1SJOU 0SEFS 'PSNBU :PV DBO TFU XIJDI JNBHFT UP CF QSJOUFE BOE UIF OVNCFS PG QSJOUT XJUI UIJT )% DBNDPSEFS 5IJT GFBUVSF JT VTFGVM UP QSJOU XJUI B %10' DPNQBUJCMF QSJOUFS PS XIFO CSJOHJOH TUPSBHF NFEJB UP B QIPUP MBC GPS QSJOUJOH

0LQ

&RS\ 5HVL]H

3ULQW 0DUN '32)

)LOH ,QIR

5PVDI 1IPUP UBC 5PVDI .FOV

UBC 4FUUJOHT UBC i4UPSBHF 5ZQFw i$BSE w 5PVDI .FOV

UBC i1SJOU .BSL %10' w 5PVDI UIF EFTJSFE PQUJPO UBC PO UIF TDSFFO i4FMFDU w i4FU "MMw PS i3FTFU "MMw

t i4FMFDUw 1SJOU NBSLT JOEJWJEVBM JNBHFT 5PVDI JNBHFT UP TFMFDU UIFN GPS QSJOUJOH 5IF JOEJDBUPS JT EJTQMBZFE PO UIF TFMFDUFE JNBHFT 5PVDIJOH UIF QIPUP UIVNCOBJM JNBHF UPHHMFT CFUXFFO UIF QIPUP UIVNCOBJM JNBHF CFJOH TFMFDUFE GPS QSJOUJOH UIF JOEJDBUPS BQQFBST PO JNBHF PS OPU UIF JOEJDBUPS JT SFNPWFE GSPN JNBHF

5PVDI 0, 2.

UBC t i4FU "MMw 1SJOU NBSLT BMM JNBHFT 4JNQMZ UPVDI i4FU "MM w t i3FTFU "MMw 3FNPWFT UIF QSJOU NBSL 4JNQMZ UPVDI i3FTFU "MM w 5IF NFTTBHF BDDPSEJOH UP UIF TFMFDUFE PQUJPO XJMM BQQFBS 5PVDI i:FT w

3ULQW 0DUN '32)

6HOHFW 6HW $OO

5HVHW $OO

3ULQW 0DUN '32)

0LQ

:PV DBO TFU UIF OVNCFS PG QSJOUT JO UIF TJOHMF EJTQMBZ WJFX POMZ

UBC 4FMFDU UIF QIPUP JNBHF UP QSJOU JO UIF TJOHMF EJTQMBZ NPEF BOE UPVDI .FOV i1SJOU .BSL %10' w EFDSFBTF

PS JODSFBTF

UBC TFMFDU UIF OVNCFS PG QSJOUT

6Q UP DPQJFT DBO CF TFU UP QSJOU PG FBDI JNBHF

2.

t *U PQFSBUFT JEFOUJDBMMZ JO UIF GVMM JNBHF EJTQMBZ TJOHMF JNBHF EJTQMBZFE PO UIF TDSFFO

t 1SJOU NBSRVFF QIPUP JNBHFT XJMM TIPX UIF JOEJDBUPS XIFO UIFZ BSF EJTQMBZFE t 5IF i3FTFU "MMw BOE i4FU "MMw PQUJPOT NBZ UBLF B MPOH UJNF EFQFOEJOH PO UIF OVNCFS PG TUPSFE JNBHFT

&OHMJTI @

QSJOUJOH QIPUP JNBHFT %*3&$5 13*/5*/( 8*5) " 1*$5#3*%(& 13*/5&3 *G ZPVS QSJOUFS JT DPNQBUJCMF XJUI 1JDU#SJEHF QIPUP JNBHFT DBO CF QSJOUFE FBTJMZ CZ DPOOFDUJOH UIF DBNDPSEFS XJUI UIF 64# DBCMF EJSFDUMZ UP UIF QSJOUFS %10' TFUUJOH DBO BMTP CF VTFE ¬QBHF /05*$& "GUFS TFMFDUJOH i1JDU#SJEHFw JO UIF NFOV DPOOFDU UIF 64# DBCMF

)% DBNDPSEFS

1JDU#SJEHF

4FU UIF i64# $POOFDUw UP i1JDU#SJEHF w ¬QBHF $POOFDU ZPVS )% DBNDPSEFS UP UIF QSJOUFS VTJOH UIF QSPWJEFE 64# DBCMF 5VSO ZPVS QSJOUFS QPXFS PO t 5IF UIVNCOBJM JOEFY WJFX PG UIF QIPUP JNBHF XJMM BQQFBS 5PVDI B QIPUP JNBHF UP QSJOU UIFO UPVDI 1SJOU UBC t 5P TFBSDI GPS B QIPUP JNBHF UPVDI QSFWJPVT JNBHF PS OFYU JNBHF UBC t 5IF NFTTBHF i1SJOU w XJMM BQQFBS 5PVDI i:FT w t 5IF TFMFDUFE QIPUP JNBHF XJMM CF QSJOUFE t "GUFS UIF DPOOFDUJPO UIF FBTZ QSJOUJOH NFOV XJMM EJTQMBZ PO UIF -$% TDSFFO 5P EJTQMBZ UIF 1JDU#SJEHF NFOV UPVDI UIF .FOV UBC 'PS NPSF JOGPSNBUJPO BCPVU UIF 1JDU#SJEHF NFOV SFGFS UP QBHF

0LQ

3LFW%ULGJH

4FUUJOH UIF OVNCFS PG DPQJFT UP QSJOU 5PVDI EFDSFBTF PS JODSFBTF UBC UP TFMFDU UIF OVNCFS PG QSJOUT t *G UIF JNBHF NPWFT UP UIF QSFWJPVT PS OFYU UIF OVNCFS PG DPQJFT JT SFTFU 5P DBODFM QSJOU TFUUJOH 5PVDI 3FUVSO UBC PO UIF TDSFFO 5P TUPQ QSJOUJOH BGUFS QSJOUJOH TUBSUT 5IF DPOGJSNBUJPO TDSFFO BQQFBST XIJMF QSJOUJOH 5PVDI i$BODFMw PO UIF TDSFFO @ &OHMJTI

0LQ

1JDU#SJEHF NFOV 4FUUJOH UIF EBUF UJNF JNQSJOU PQUJPO 5PVDI .FOV UBC i%BUF 5JNFw i0GG w i%BUF w i5JNF w PS i%BUF 5JNFw 3FUVSO

UBC 5P QSJOU VTJOH UIF %10' TFUUJOH *G UIF QSJOUFS JT DPNQBUJCMF XJUI %10' ZPV DBO VTF UIF %10' TFUUJOH ¬QBHF t *G UIF QSJOUFS JT OPU SFDPHOJ[FE PS UP QSJOU BHBJO BGUFS EJSFDU QSJOUJOH XJUI B 1JDU#SJEHF QSJOUFS SFNPWF UIF 64# DBCMF TFMFDU i1JDU#SJEHFw JO UIF NFOV BHBJO BOE UIFO SFDPOOFDU UIF DBCMF t 5IF EBUF UJNF JNQSJOU PQUJPO NBZ OPU CF TVQQPSUFE CZ BMM QSJOUFST $IFDL XJUI ZPVS QSJOUFS NBOVGBDUVSFS 5IF i%BUF 5JNFw NFOV DBOOPU CF TFUVQ JG UIF QSJOUFS EPFT OPU TVQQPSU UIJT PQUJPO t 1JDU#SJEHF JT B SFHJTUFSFE USBEFNBSL PG $*1" $BNFSB *NBHJOH 1SPEVDUT "TTPDJBUJPO BO JNBHF USBOTGFS TUBOEBSE EFWFMPQFE CZ $BOPO 'VKJ )1 0MZNQVT 4FJLP &QTPO BOE 4POZ t 6TF UIF 64# DBCMF QSPWJEFE XJUI UIF )% DBNDPSEFS t 6TF UIF "$ QPXFS BEBQUPS GPS ZPVS )% DBNDPSEFS EVSJOH 1JDU#SJEHF EJSFDU QSJOUJOH 5VSOJOH ZPVS )% DBNDPSEFS PGG EVSJOH QSJOUJOH NJHIU EBNBHF EBUB PO UIF TUPSBHF NFEJB t .PWJF JNBHFT BSF OPU BWBJMBCMF GPS QSJOUJOH t :PV DBO TFU WBSJPVT QSJOUJOH PQUJPOT EFQFOEJOH PO UIF QSJOUFS 1MFBTF SFGFS UP UIF VTFS NBOVBM PG UIF QSJOUFS GPS EFUBJMT t %P OPU SFNPWF 64# DBCMF PS NFNPSZ DBSE EVSJOH QSJOUJOH t :PV NBZ OPU QSJOU QIPUP JNBHFT SFDPSEFE PO PUIFS EFWJDFT

0LQ

'DWH 7LPH

'DWH 7LPH 2II 'DWH

7LPH 'DWH 7LPH

&OHMJTI @

DPOOFDUJOH UP B 1$ 5IJT DIBQUFS FYQMBJOT IPX UP DPOOFDU UIF DBNDPSEFS UP B 1$ VTJOH UIF 64# DBCMF GPS WBSJPVT GVODUJPOT * 8IFO DPOOFDUJOH B 64# DBCMF UP B 1$ SFGFS UP UIF TPGUXBSF JOTUBMMBUJPO JOTUSVDUJPOT BOE 1$ TQFDJGJDBUJPOT CFMPX

4:45&. 3&26*3&.&/54 $ZCFS-JOL %7% 4VJUF 5IF GPMMPXJOH SFRVJSFNFOUT NVTU CF TBUJTGJFE UP VTF $ZCFS-JOL %7% 4VJUF 04 $16 3".

64# %JTQMBZ .JTDFMMBOFPVT 4VQQPSUFE NFEJB 7JEFP DBSE

8JOEPXT 7JTUB PS 91 8JOEPXT 91 4FSWJDF 1BDL

*OUFMÂ¥ 1FOUJVNÂ¥ ()[ ".% "UIMPO '9 ()[ SFDPNNFOEFE .# (# BOE BCPWF SFDPNNFOEFE

64# Y CJU DPMPVS PS IJHIFS *OUFSOFU &YQMPSFS PS MBUFS %7% 3 38 %7% 3 38 %7% 3". $% 3 38 'PS UIF DPNQBUJCMF %7% $% CVSOFST SFGFS UP $ZCFS-JOL XFC TJUF IUUQ XXX DZCFSMJOL DPN FOHMJTI QSPEVDUT QPXFSQSPEVDFS DPNQ@EWE@ESJWF KTQ O7*%*" (FGPSDF (5 PS IJHIFS "5J 9 TFSJFT PS IJHIFS

t %7% 4VJUF JT PQUJNJ[FE GPS *OUFM $PSF %VP QSPDFTTPST BOE $16T XJUI ..9 44& 44& %/PX BOE *OUFM )ZQFS 5ISFBEJOH UFDIOPMPHZ t 5IF TZTUFN SFRVJSFNFOUT JOGPSNBUJPO BCPWF JT OPU B HVBSBOUFF UIBU UIF QSPWJEFE TPGUXBSF XJMM XPSL PO BMM QFSTPOBM DPNQVUFST NFFUJOH UIPTF SFRVJSFNFOUT t 8IFO UIF JOUFHSBUFE DPEFD JT JOTUBMMFE FSSPST NBZ PDDVS XIJMF JO PQFSBUJPO PG $ZCFS-JOL %7% 4VJUF %FMFUF UIF FYJTUJOH JOUFHSBUFE DPEFD UIFO JOTUBMM UIJT QSPHSBN t 8IFO UIF EJTUPSUFE QJDUVSF PS DPMPVS JT PO UIF TDSFFO VQEBUF UIF MBUFTU WFSTJPO PG WJEFP ESJWFS 5IF WJEFP ESJWFS JT BWBJMBCMF JO UIF IPNFQBHF PG UIF HSBQIJD DBSE NBOVGBDUVSFS @ &OHMJTI

*/45"--*/( 5)& $ZCFS-JOL %7% 4VJUF %7% 4VJUF JT TPGUXBSF GPS FBTJMZ FEJUJOH .1&( "7* BOE PUIFS WJEFP GJMFT TUJMM JNBHFT BOE PUIFS DPOUFOUT GPS DSFBUJOH B NPWJF #FGPSF ZPV CFHJO 2VJU BOZ PUIFS TPGUXBSF ZPV BSF VTJOH $IFDL UIBU UIFSF BSF OP PUIFS BQQMJDBUJPO JDPOT PO UIF TUBUVT CBS

-PBE UIF QSPWJEFE $% 30. JOUP UIF 1$ t 4FU VQ TDSFFO BQQFBST XJUIJO TFWFSBM TFDPOET *G UIF TFUVQ TDSFFO EPFT OPU BQQFBST EPVCMFDMJDL UIF $% 30. JDPO JO UIF i.Z $PNQVUFSw XJOEPX t $MJDL i*OTUBMM /PX w 4FMFDU UIF EFTJSFE MBOHVBHF BOE DMJDL i0,w i$ZCFS-JOL %7% TVJUF JOTUBMM 4IJFME 8J[BSEw TDSFFO BQQFBST t $MJDL i/FYUw

i-JDFOTF "HSFFNFOUw TDSFFO BQQFBST t $MJDL i:FTw

&OHMJTI @

DPOOFDUJOH UP B 1$ i$VTUPNFS *OGPSNBUJPOw TDSFFO BQQFBST t $MJDL i/FYU w

i$IPPTF %FTUJOBUJPO -PDBUJPOw TDSFFO BQQFBST t $IPPTF UIF EFTUJOBUJPO MPDBUJPO XIJDI ZPV XBOU UP JOTUBMM t $MJDL i/FYU w

i4FUVQ TUBUVTw TDSFFO BQQFBST t 5IF JOTUBMMBUJPO QSPHSFTTFT JO PSEFS BT GPMMPXT i1PXFS 4UBSUFSw i1PXFS %7%w i1PXFS %JSFDUPSw i1PXFS 1SPEVDFSw i1PXFS 1SPEVDFS 5FNQMBUF w t 8BJU GPS B NPNFOU VOUJM UIF JOTUBMMBUJPO JT GJOJTIFE BOE i4FUVQ $PNQMFUFw TDSFFO BQQFBST

i4FUVQ $PNQMFUFw BQQFBST t $MJDL i'JOJTI w t 5IF JDPO PG i$ZCFS-JOL %7% 4VJUFw JT DSFBUFE PO UIF EFTLUPQ t *G ZPV QFSGPSN JOTUBMMBUJPO PG TPGUXBSF UIBU JT BMSFBEZ JOTUBMMFE VOJOTUBMMBUJPO XJMM TUBSU *O UIJT DBTF QFSGPSN UIF JOTUBMMBUJPO BHBJO BGUFS VOJOTUBMMBUJPO JT GJOJTIFE t 5IJT NBOVBM POMZ SFGFST UP TPGUXBSF JOTUBMMBUJPO BOE 1$ DPOOFDUJPO 'PS NPSF EFUBJMT PO TPGUXBSF SFGFS UP UIF i0OMJOF IFMQ 3FBE NFw PO UIF $ZCFS-JOL %7% 4VJUF $% t 'SBNF ESPQ NBZ PDDVS JO QSFWJFX TDSFFO XIJMF ZPV BSF VTJOH 1PXFS 1SPEVDFS )PXFWFS UIJT EPFT OPU BGGFDU BOZ CVSOFE JNBHF PO %7% UJUMF @ &OHMJTI

$0//&$5*/( 5)& 64# $"#-& 5P DPQZ UIF NPWJF GJMFT BOE QIPUP GJMFT UP ZPVS 1$ DPOOFDU ZPVS )% DBNDPSEFS UP UIF 1$ XJUI B 64# DBCMF 4FU UIF i64# $POOFDUw UP i.BTT 4UPSBHF w ¬QBHF $POOFDU UIF )% DBNDPSEFS UP UIF 1$ XJUI B 64# DBCMF t %PO U BQQMZ FYDFTTJWF GPSDF XIFO JOTFSUJOH PS FYUSBDUJOH B 64# DBCMF JOUP GSPN B 64# KBDL t *OTFSU B 64# BGUFS DIFDLJOH UIF EJSFDUJPO PG JUT JOTFSUJPO JT DPSSFDU t 6TF UIF QSPWJEFE 64# DBCMF

1$

)% DBNDPSEFS

%JTDPOOFDUJOH UIF 64# DBCMF 'JSTU EJTDPOOFDU UIF 64# DBCMF BOE UVSO PGG UIF )% DBNDPSEFS "GUFS DPNQMFUJOH UIF EBUB USBOTNJTTJPO ZPV NVTU EJTDPOOFDU UIF DBCMF JO UIF GPMMPXJOH XBZ $MJDL UIF i6OQMVH PS FKFDU IBSEXBSFw JDPO PO UIF UBTL USBZ 4FMFDU i64# .BTT 4UPSBHF %FWJDFw PS i64# %JTL w BOE UIFO DMJDL i4UPQ w $MJDL i0, w %JTDPOOFDU UIF 64# DBCMF GSPN UIF )% DBNDPSEFS BOE 1$ t 8F SFDPNNFOE VTJOH UIF "$ QPXFS BEBQUPS BT UIF QPXFS TVQQMZ JOTUFBE PG UIF CBUUFSZ QBDL t 8IFO UIF 64# DBCMF JT DPOOFDUFE UVSOJOH UIF DBNDPSEFS PO PS PGG NBZ DBVTF UIF 1$ UP NBMGVODUJPO t *G ZPV EJTDPOOFDU UIF 64# DBCMF GSPN UIF 1$ PS UIF )% DBNDPSEFS XIJMF USBOTGFSSJOH UIF EBUB USBOTNJTTJPO XJMM TUPQ BOE UIF EBUB NBZ CF EBNBHFE t *G ZPV DPOOFDU UIF 64# DBCMF UP B 1$ WJB B 64# )6# PS TJNVMUBOFPVTMZ DPOOFDU UIF 64# DBCMF BMPOH XJUI PUIFS 64# EFWJDFT UIF )% DBNDPSEFS NBZ OPU XPSL QSPQFSMZ *G UIJT PDDVST SFNPWF BMM 64# EFWJDFT GSPN UIF 1$ BOE SFDPOOFDU UIF )% DBNDPSEFS

&OHMJTI @

DPOOFDUJOH UP B 1$ 7*&8*/( 5)& $0/5&/54 0' 4503"(& .&%*" 4MJEF UIF 108&3 TXJUDI EPXOXBSE UP UVSO UIF )% DBNDPSEFS PO t 4FU UIF i64# $POOFDUw UP i.BTT 4UPSBHF w ¬QBHF *U JT TFU UP i.BTT 4UPSBHFw CZ EFGBVMU XIFO ZPV QVSDIBTF UIF )% DBNDPSEFS

t 4FU UIF BQQSPQSJBUF TUPSBHF NFEJB ¬QBHF *G ZPV XBOU UP SFDPSE PO B NFNPSZ DBSE JOTFSU UIF NFNPSZ DBSE

$POOFDU UIF )% DBNDPSEFS UP UIF 1$ XJUI B 64# DBCMF ¬QBHF t 5IF i3FNPWBCMF %JTLw XJOEPX BQQFBST PO UIF 1$ T TDSFFO BGUFS B NPNFOU t 5XP SFNPWBCMF EJTLT BQQFBS XIFO DPOOFDUJOH B 64# 5IF CVJMU JO NFNPSZ JT UIF GJSTU SFDPHOJ[FE ESJWF PG UXP SFNPWBCMF EJTDT OFXMZ SFHJTUFSFE JO UIF A.Z $PNQVUFS 'PS FYBNQMF XIFO ' ESJWF BOE ( ESJWF BSF SFDPHOJ[FE JO UIF 1$ ' ESJWF BOE ( ESJWF BSF UIF CVJMU JO NFNPSZ BOE NFNPSZ DBSE SFTQFDUJWFMZ :PV DBO TFMFDU UIF EFTJSFE NFNPSZ UZQF t 4FMFDU i0QFO GPMEFST UP WJFX GJMFT VTJOH 8JOEPXT &YQMPSFSw BOE DMJDL i0, w 5IF GPMEFST JO UIF TUPSBHF NFEJB BQQFBS t %JGGFSFOU GJMF UZQFT BSF TUPSFE JO EJGGFSFOU GPMEFST t *G UIF i3FNPWBCMF %JTLw XJOEPX EPFT OPU BQQFBS DPOGJSN UIF DPOOFDUJPO QBHF PS QFSGPSN TUFQT BOE BHBJO t 8IFO UIF SFNPWBCMF EJTL EPFT OPU BQQFBS BVUPNBUJDBMMZ PQFO UIF SFNPWBCMF EJTL GPMEFS PG .Z $PNQVUFS

9,'(2

086,&

1IPUP JNBHF GJMFT .PWJF JNBHF GJMFT TFUUJOH EBUB .VTJD GJMFT

@ &OHMJTI

4USVDUVSF PG GPMEFST BOE GJMFT PO UIF TUPSBHF NFEJB t 5IF GPMEFS BOE GJMF TUSVDUVSF GPS TUPSBHF NFEJB JT BT GPMMPXT t %PO U BSCJUSBSJMZ DIBOHF PS SFNPWF UIF GPMEFS PS GJMF OBNF *U NBZ OPU CF QMBZBCMF t 5IF GJMF OBNJOH GPMMPXT %$' %FTJHO SVMF GPS $BNFSB 'JMF 4ZTUFN

*NBHF DPOGJHVSBUJPO GJMF n 5IJT JT XIFSF EBUB GPS QIPUP GJMFT TVDI BT %10' JT TUPSFE

0,6&

9,'(2 9,'(2 6'9B 03 6'9B 03

'&,0 3+272

.PWJF JNBHF GJMF ) o 5IF )% RVBMJUZ NPWJF JNBHFT IBWF )%7@ .1 GPSNBU BOE UIF 4% RVBMJUZ NPWJF JNBHFT IBWF 4%7@ .1 GPSNBU 5IF GJMF OVNCFS BVUPNBUJDBMMZ JODSFBTFT XIFO B OFX NPWJF JNBHF GJMF JT DSFBUFE 6Q UP GJMFT BSF DSFBUFE JO POF GPMEFS " OFX GPMEFS JT DSFBUFE XIFO NPSF UIBO GJMFT BSF DSFBUFE

+'9B 03 +'9B 03

&$0B -3* &$0B -3*

086,& 621* 0 $

1IPUP JNBHF GJMF p "T JO NPWJF JNBHF GJMFT UIF GJMF OVNCFS BVUPNBUJDBMMZ JODSFBTFT XIFO B OFX JNBHF GJMF JT DSFBUFE 5IF NBYJNVN GJMF OVNCFS BMMPXFE JT UIF TBNF BT JO NPWJF JNBHF GJMFT " OFX GPMEFS TUPSFT GJMFT GSPN $".@ +1( 5IF GPMEFS OBNF JODSFBTFT JO UIF PSEFS PG 1)050 1)050 FUD 6Q UP GJMFT BSF DSFBUFE JO POF GPMEFS " OFX GPMEFS JT DSFBUFE XIFO NPSF UIBO GJMFT BSF DSFBUFE .VTJD GJMF q "VEJP GJMF 40/( . " 4BNQMJOH 'SFR L)[ TUPSFE JO UIF .64*$ GPMEFS JT FYFDVUFE BT UIF CBDLHSPVOE NVTJD EVSJOH NVTJD TMJEF TIPX

&OHMJTI @

DPOOFDUJOH UP B 1$ *NBHF GPSNBU .PWJF JNBHF t .PWJF JNBHFT BSF DPNQSFTTFE JO ) GPSNBU 5IF GJMF FYUFOTJPO JT i .1 w t 5IF JNBHF TJ[F JT 9 )% Y 4% PS Y 4% ¬QBHF t .PWJF JNBHFT TFU XJUI <4%> Q SFTPMVUJPO BOE /PSNBM JNBHF RVBMJUZ JT TVQQPSUFE CZ UIF Y Q 7(" SBUJP PG 1IPUP JNBHF t 1IPUP JNBHFT BSF DPNQSFTTFE JO +1&( +PJOU 1IPUPHSBQIJD &YQFSUT (SPVQ GPSNBU 5IF GJMF FYUFOTJPO JT i +1( w t 5IF JNBHF TJ[F JT Y Y Y Y Y PS Y ¬QBHF t 8IFO UIF UI GJMF JT DSFBUFE JO UIF UI GPMEFS J F )%7@ .1 JT DSFBUFE JO UIF 7*%&0 GPMEFS B OFX GPMEFS DBOOPU CF DSFBUFE BOZNPSF 4FU i'JMF /P w UP i3FTFUw BU UIJT UJNF t :PV NBZ NPEJGZ UIF OBNF PG B GJMF GPMEFS TUPSFE JO UIF TUPSBHF NFEJB VTJOH B 1$ 5IJT )% DBNDPSEFS NBZ OPU SFDPHOJTF NPEJGJFE GJMFT

53"/4'&33*/( '*-&4 '30. 5)& )% $".$03%&3 50 :063 1$ :PV DBO DPQZ UIF NPWJF BOE QIPUP JNBHFT UP ZPVS 1$ BOE QMBZ UIFN CBDL &YFDVUF UIF QSPDFEVSF JO i7JFXJOH UIF DPOUFOUT PG TUPSBHF NFEJB w ¬QBHF t 5IF GPMEFST JO UIF TUPSBHF NFEJB BQQFBS $SFBUF B OFX GPMEFS FOUFS UIF GPMEFS OBNF UIFO EPVCMFDMJDL JU 4FMFDU UIF GPMEFS UP DPQZ UIFO ESBH BOE ESPQ JU JOUP UIF EFTUJOBUJPO GPMEFS t 5IF GPMEFS JT DPQJFE GSPN UIF TUPSBHF NFEJB NFNPSZ DBSE BMM NPEFMT PS CVJMU JO NFNPSZ UP UIF 1$ 5P QMBZCBDL UIF NPWJF JNBHF DPQJFE UP 1$ 6TF UIF QSPWJEFE TPGUXBSF UP QMBZ CBDL UIF NPWJF JNBHFT JO UIF 1$ 5IF NPWJF JNBHFT SFDPSEFE PO ZPVS )% DBNDPSEFS NBZ OPU CF QMBZFE CBDL JO PUIFS TPGUXBSF

@ &OHMJTI

NBJOUFOBODF BEEJUJPOBM JOGPSNBUJPO ."*/5&/"/$& :PVS )% DBNDPSEFS JT B QSPEVDU PG TVQFSJPS EFTJHO BOE DSBGUTNBOTIJQ BOE TIPVME CF USFBUFE XJUI DBSF 5IF TVHHFTUJPOT CFMPX XJMM IFMQ ZPV GVMGJMM BOZ XBSSBOUZ PCMJHBUJPOT BOE BMMPX ZPV UP FOKPZ UIJT QSPEVDU GPS NBOZ ZFBST t 'PS TBGFLFFQJOH PG UIF )% DBNDPSEFS UVSO PGG UIF )% DBNDPSEFS 3FNPWF UIF CBUUFSZ QBDL BOE "$ QPXFS BEBQUPS ¬QBHFT 3FNPWF UIF NFNPSZ DBSE ¬QBHF

$BVUJPOT XIFO TUPSJOH t %P OPU MFBWF UIF )% DBNDPSEFS JO B QMBDF XIFSF UIF UFNQFSBUVSF JT WFSZ IJHI GPS B MPOH QFSJPE PG UJNF 5IF UFNQFSBUVSF JOTJEF B DMPTFE WFIJDMF PS USVOL DBO CFDPNF WFSZ IJHI JO IPU XFBUIFS *G ZPV MFBWF UIF )% DBNDPSEFS JO TVDI B QMBDF JU DPVME NBMGVODUJPO PS UIF DBTF DPVME CF EBNBHFE %P OPU FYQPTF UIF )% DBNDPSEFS UP EJSFDU TVOMJHIU PS QMBDF JU OFBS B IFBUFS t %P OPU TUPSF UIF )% DBNDPSEFS JO B QMBDF XIFSF UIF IVNJEJUZ JT IJHI PS JO B EVTUZ QMBDF %VTU FOUFSJOH UIF )% DBNDPSEFS DPVME DBVTF B NBMGVODUJPO *G IVNJEJUZ JT IJHI UIF MFOT DPVME CFDPNF NPMEZ BOE UIF )% DBNDPSEFS DPVME CFDPNF JOPQFSBUJWF *U JT SFDPNNFOEFE UIBU ZPV QVU UIF )% DBNDPSEFS JO B CPY UPHFUIFS XJUI B TNBMM TJMJDB CBH XIFO TUPSJOH JU JO B DMPTFU FUD t %P OPU TUPSF UIF )% DBNDPSEFS JO B QMBDF TVCKFDU UP TUSPOH NBHOFUJTN PS JOUFOTF WJCSBUJPO 5IJT DPVME DBVTF NBMGVODUJPOT t %FUBDI UIF CBUUFSZ QBDL GSPN UIF )% DBNDPSEFS BOE TUPSF JU JO B DPPM QMBDF -FBWJOH UIF CBUUFSZ QBDL BUUBDIFE PS TUPSJOH JU BU IJHI UFNQFSBUVSF DPVME TIPSUFO JUT MJGF

$MFBOJOH UIF )% DBNDPSEFS #FGPSF DMFBOJOH UVSO PGG UIF )% DBNDPSEFS BOE SFNPWF UIF CBUUFSZ QBDL BOE "$ QPXFS BEBQUPS t 5P DMFBO UIF FYUFSJPS 8JQF HFOUMZ XJUI B TPGU ESZ DMPUI %P OPU BQQMZ FYDFTTJWF GPSDF XIFO DMFBOJOH HFOUMZ SVC UIF TVSGBDF %P OPU VTF CFO[FOF PS UIJOOFS UP DMFBO UIF DBNDPSEFS 5IF DPBUJOH PG FYUFSJPS DPVME QFFM PGG PS UIF DBTF DPVME EFUFSJPSBUF t 5P DMFBO UIF -$% TDSFFO 8JQF HFOUMZ XJUI B TPGU ESZ DMPUI #F DBSFGVM OPU UP EBNBHF UIF NPOJUPS t 5P DMFBO UIF MFOT 6TF BO PQUJPOBM BJS CMPXFS UP CMPX PVU EJSU BOE PUIFS TNBMM PCKFDUT %P OPU XJQF UIF MFOT XJUI DMPUI PS ZPVS GJOHFST *G OFDFTTBSZ XJQF HFOUMZ XJUI MFOT DMFBOJOH QBQFS .PVME NBZ GPSN JG UIF MFOT JT MFGU EJSUZ *G UIF MFOT MPPLT EJNNFS UVSO PGG UIF )% DBNDPSEFS BOE MFBWF JU GPS BCPVU IPVS &OHMJTI @

NBJOUFOBODF BEEJUJPOBM JOGPSNBUJPO "%%*5*0/"- */'03."5*0/ 4UPSBHF NFEJB t #F TVSF UP GPMMPX UIF HVJEFMJOFT CFMPX UP QSFWFOU DPSSVQUJPO PS EBNBHF UP ZPVS SFDPSEFE EBUB %P OPU CFOE PS ESPQ UIF TUPSBHF NFEJB PS TVCKFDU JU UP TUSPOH QSFTTVSF KPMUT PS WJCSBUJPOT %P OPU TQMBTI UIF TUPSBHF NFEJB XJUI XBUFS %P OPU VTF SFQMBDF PS TUPSF UIF TUPSBHF NFEJB JO MPDBUJPOT UIBU BSF FYQPTFE UP TUSPOH TUBUJD FMFDUSJDJUZ PS FMFDUSJDBM OPJTF %P OPU UVSO PGG UIF DBNDPSEFS QPXFS PS SFNPWF UIF CBUUFSZ PS "$ QPXFS BEBQUPS EVSJOH SFDPSEJOH QMBZCBDL PS XIFO PUIFSXJTF BDDFTTJOH UIF TUPSBHF NFEJB %P OPU CSJOH UIF TUPSBHF NFEJB OFBS PCKFDUT UIBU IBWF B TUSPOH NBHOFUJD GJFME PS UIBU FNJU TUSPOH FMFDUSPNBHOFUJD XBWFT %P OPU TUPSF UIF TUPSBHF NFEJB JO MPDBUJPOT XJUI IJHI UFNQFSBUVSF PS IJHI IVNJEJUZ %P OPU UPVDI UIF NFUBM QBSUT t $PQZ UIF SFDPSEFE GJMFT UP ZPVS 1$ 4BNTVOH TIBMM OPU CF SFTQPOTJCMF GPS BOZ MPTU EBUB *U JT SFDPNNFOEFE UIBU ZPV DPQZ UIF EBUB GSPN ZPVS 1$ UP PUIFS NFEJB GPS TUPSBHF

t " NBMGVODUJPO NBZ DBVTF UIF TUPSBHF NFEJB UP GBJM UP PQFSBUF QSPQFSMZ 4BNTVOH XJMM OPU QSPWJEF BOZ DPNQFOTBUJPO GPS BOZ MPTU DPOUFOUT t 3FGFS UP QBHFT GPS EFUBJMT

-$% TDSFFO t 5P QSFWFOU EBNBHF UP UIF -$% TDSFFO %P OPU QVTI JU UPP IBSE PS LOPDL JU PO BOZUIJOH %P OPU QMBDF UIF DBNDPSEFS XJUI UIF -$% TDSFFO PO UIF CPUUPN t 5P QSPMPOH TFSWJDF MJGF BWPJE SVCCJOH JU XJUI B DPBSTF DMPUI t #F BXBSF PG UIF GPMMPXJOH QIFOPNFOB GPS -$% TDSFFO VTF 5IFZ BSF OPU NBMGVODUJPOT 8IJMF VTJOH UIF DBNDPSEFS UIF TVSGBDF BSPVOE UIF -$% TDSFFO NBZ IFBU VQ *G ZPV MFBWF QPXFS PO GPS B MPOH UJNF UIF TVSGBDF BSPVOE UIF -$% TDSFFO CFDPNFT IPU

@ &OHMJTI

#BUUFSZ QBDLT 5IF TVQQMJFE CBUUFSZ QBDL JT B MJUIJVN JPO CBUUFSZ #FGPSF VTJOH UIF TVQQMJFE CBUUFSZ QBDL PS BO PQUJPOBM CBUUFSZ QBDL CF TVSF UP SFBE UIF GPMMPXJOH DBVUJPOT

t 5P BWPJE IB[BSET

%P OPU CVSO %P OPU TIPSU DJSDVJU UIF UFSNJOBMT 8IFO USBOTQPSUJOH DBSSZ UIF CBUUFSZ JO B QMBTUJD CBH %P OPU NPEJGZ PS EJTBTTFNCMF %P OPU FYQPTF UIF CBUUFSZ UP UFNQFSBUVSFT FYDFFEJOH ยก$ ยก' BT UIJT NBZ DBVTF UIF CBUUFSZ UP PWFSIFBU FYQMPEF PS DBUDI GJSF

t 5P QSFWFOU EBNBHF BOE QSPMPOH TFSWJDF MJGF

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t *U JT SFDPNNFOEFE UIBU POMZ HFOVJOF 4BNTVOH CBUUFSJFT BSF VTFE JO UIJT DBNDPSEFS 6TJOH HFOFSJD OPO 4BNTVOH CBUUFSJFT DBO DBVTF EBNBHF UP UIF JOUFSOBM DIBSHJOH DJSDVJUSZ t *U JT OPSNBM GPS UIF CBUUFSZ QBDL UP CF XBSN BGUFS DIBSHJOH PS BGUFS VTF t 5FNQFSBUVSF SBOHF TQFDJGJDBUJPOT $IBSHJOH ยก' UP ยก' ยก$ UP ยก$ 0QFSBUJPO ยก' UP ยก' ยก$ UP ยก$ 4UPSBHF ยก' UP ยก' ยก$ UP ยก$

t 5IF MPXFS UIF UFNQFSBUVSF UIF MPOHFS SFDIBSHJOH UBLFT t 3FGFS UP QBHFT GPS EFUBJMT

0O DIBSHJOH UIF CVJMU JO SFDIBSHFBCMF CBUUFSZ :PVS DBNDPSEFS IBT B CVJMU JO SFDIBSHFBCMF CBUUFSZ UP SFUBJO UIF EBUF UJNF BOE PUIFS TFUUJOHT FWFO XIFO UIF QPXFS TXJUDI JT TFU UP PGG 5IF CVJMU JO SFDIBSHFBCMF CBUUFSZ JT BMXBZT DIBSHFE XIJMF ZPVS DBNDPSEFS JT DPOOFDUFE UP UIF XBMM PVUMFU WJB UIF "$ QPXFS BEBQUPS PS XIJMF UIF CBUUFSZ QBDL JT BUUBDIFE 5IF SFDIBSHFBCMF CBUUFSZ XJMM CF GVMMZ EJTDIBSHFE JO BCPVU NPOUIT JG ZPV EP OPU VTF ZPVS DBNDPSEFS BU BMM 6TF ZPVS DBNDPSEFS BGUFS DIBSHJOH UIF CVJMU JO SFDIBSHFBCMF CBUUFSZ )PXFWFS FWFO JG UIF CVJMU JO SFDIBSHFBCMF CBUUFSZ JT OPU DIBSHFE UIF DBNDPSEFS PQFSBUJPO XJMM OPU CF BGGFDUFE BT MPOH BT ZPV BSF OPU SFDPSEJOH UIF EBUF

&OHMJTI @

NBJOUFOBODF BEEJUJPOBM JOGPSNBUJPO 64*/( :063 )% $".$03%&3 "#30"% t &BDI DPVOUSZ PS SFHJPO IBT JUT PXO FMFDUSJD BOE DPMPVS TZTUFNT t #FGPSF VTJOH ZPVS )% DBNDPSEFS BCSPBE DIFDL UIF GPMMPXJOH JUFNT t 1PXFS TPVSDFT 5IF QSPWJEFE "$ BEBQUPS GFBUVSFT BVUPNBUJD WPMUBHF TFMFDUJPO JO UIF "$ SBOHF GSPN 7 UP 7 :PV DBO VTF ZPVS DBNDPSEFS JO BOZ DPVOUSJFT SFHJPOT VTJOH UIF "$ QPXFS BEBQUPS TVQQMJFE XJUI ZPVS DBNDPSEFS XJUIJO UIF "$ 7 UP 7 )[ SBOHF 6TF B DPNNFSDJBMMZ BWBJMBCMF "$ QMVH BEBQUPS JG OFDFTTBSZ EFQFOEJOH PO UIF EFTJHO PG UIF XBMM PVUMFU t 7JFXJOH JNBHFT SFDPSEFE XJUI )% IJHI EFGJOJUJPO JNBHF SFTPMVUJPO *O DPVOUSJFT SFHJPOT XIFSF J JT TVQQPSUFE ZPV DBO WJFX UIF JNBHFT XJUI UIF TBNF )% IJHI EFGJOJUJPO

JNBHF SFTPMVUJPO BT UIBU PG UIF SFDPSEFE JNBHFT :PV OFFE B 1"- TZTUFN CBTFE BOE J DPNQBUJCMF 57 PS NPOJUPS XJUI BO )%.* PS $PNQPOFOU DBCMF DPOOFDUFE t 7JFXJOH JNBHFT SFDPSEFE XJUI 4% TUBOEBSE EFGJOJUJPO JNBHF SFTPMVUJPO 5P WJFX JNBHFT SFDPSEFE XJUI 4% TUBOEBSE EFGJOJUJPO JNBHF SFTPMVUJPO ZPV OFFE B 1"- TZTUFN CBTFE 57 XJUI "VEJP 7JEFP JOQVU KBDLT B DPNQPOFOU DBCMF PS .VMUJ "7 DBCMF DPOOFDUFE t 0O 57 DPMPVS TZTUFNT :PVS DBNDPSEFS JT B 1"- TZTUFN CBTFE DBNDPSEFS *G ZPV XBOU UP WJFX ZPVS SFDPSEJOHT PO B 57 PS UP DPQZ JU UP BO FYUFSOBM EFWJDF JU NVTU CF B 1"- TZTUFN CBTFE 57 PS BO FYUFSOBM EFWJDF BOE IBWF UIF BQQSPQSJBUF "VEJP 7JEFP KBDLT 0UIFSXJTF ZPV NBZ OFFE UP VTF B TFQBSBUF WJEFP GPSNBU USBOTDPEFS 1"- /54$ GPSNBU DPOWFSUFS

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

USPVCMFTIPPUJOH 5306#-&4)005*/( #FGPSF DPOUBDUJOH B 4BNTVOH BVUIPSJ[FE TFSWJDF DFOUSF QFSGPSN UIF GPMMPXJOH TJNQMF DIFDLT 5IFZ NBZ TBWF ZPV UIF UJNF BOE FYQFOTF PG BO VOOFDFTTBSZ DBMM

8BSOJOH JOEJDBUPST BOE NFTTBHFT #BUUFSZ QBDL .FTTBHF

*DPO

*OGPSNT UIBU

"DUJPO

-PX #BUUFSZ

5IF CBUUFSZ QBDL JT BMNPTU EJTDIBSHFE

t 3FQMBDF XJUI B DIBSHFE CBUUFSZ PS DPOOFDU UIF "$ QPXFS BEBQUPS

-PX #BUUFSZ $POOFDU "$ BEBQUPS BOE USZ BHBJO

%FMFUF $PQZ BOE .PWF GVODUJPOT BSF JOPQFSBCMF EVF UP UIF FYIBVTUFE CBUUFSZ

t 3FQMBDF XJUI B DIBSHFE CBUUFSZ PS DPOOFDU UIF "$ QPXFS BEBQUPS

5IF CBUUFSZ QBDL DBO OPU QBTT BVUIFOUJDJUZ DIFDL

t $IFDL UIF CBUUFSZ T BVUIFOUJDJUZ BOE DIBOHF UP OFX POF t *U JT SFDPNNFOEFE UIBU POMZ HFOVJOF 4BNTVOH CBUUFSJFT BSF VTFE JO UIJT DBNDPSEFS

*OGPSNT UIBU

"DUJPO

.FNPSZ 'VMM

5IFSF JT OPU FOPVHI TQBDF UP SFDPSE PO CVJMU JO NFNPSZ

t %FMFUF VOOFDFTTBSZ GJMFT PO UIF CVJMU JO NFNPSZ t #BDL VQ GJMFT UP 1$ PS BOPUIFS TUPSBHF NFEJB BOE EFMFUF GJMFT t 6TF B NFNPSZ DBSE

*OTFSU $BSE

5IFSF JT OP NFNPSZ DBSE JOTFSUFE JO UIF NFNPSZ DBSE TMPU

t *OTFSU B NFNPSZ DBSE t 6TF UIF CVJMU JO NFNPSZ

5IFSF JT OPU FOPVHI TQBDF UP SFDPSE PO NFNPSZ DBSE

t %FMFUF VOOFDFTTBSZ GJMFT PO UIF NFNPSZ DBSE t #BDL VQ GJMFT UP 1$ PS BOPUIFS TUPSBHF NFEJB BOE EFMFUF GJMFT t 6TF UIF CVMJU JO NFNPSZ t $IBOHF NFNPSZ DBSE UP BOPUIFS POF UIBU IBT FOPVHI GSFF TQBDF

$IFDL UIF BVUIFOUJDJUZ PG UIJT CBUUFSZ

4UPSBHF NFEJB .FTTBHF

$BSE 'VMM

*DPO

&OHMJTI @

USPVCMFTIPPUJOH .FTTBHF

*OGPSNT UIBU

"DUJPO

$BSE -PDLFE

5IF XSJUF QSPUFDUJPO UBC PO BO 4% PS 4%)$ DBSE IBT CFFO TFU UP MPDL

t 3FMFBTF XSJUF QSPUFDUJPO UBC

$BSE &SSPS

5IF NFNPSZ DBSE IBT TPNF QSPCMFN BOE DBO OPU CF SFDPHOJ[FE

t $IBOHF NFNPSZ DBSE UP BOPUIFS POF

/PU 'PSNBUUFE

5IF NFNPSZ DBSE JT OPU GPSNBUUFE

t 'PSNBU UIF NFNPSZ DBSE VTJOH NFOV JUFN

/PU 4VQQPSUFE 'PSNBU

5IF NFNPSZ DBSE NBZ IBWF CFFO GPSNBUUFE CZ BOPUIFS EFWJDF BOE NBZ TUJMM IBWF FYJTUJOH JNBHFT PO JU

t 5IF JNBHF GPSNBU JT OPU TVQQPSUFE $IFDL UIF TVQQPSUFE GJMF GPSNBU ¬ QBHF t 'PSNBU UIF NFNPSZ DBSE VTJOH NFOV JUFN

/PU 4VQQPSUFE $BSE

5IF NFNPSZ DBSE JT OPU TVQQPSUFE JO UIJT DBNDPSEFS

t $IBOHF UIF NFNPSZ DBSE XJUI UIF POF SFDPNNFOEFE

5IF NFNPSZ DBSE EPFT OPU IBWF FOPVHI QFSGPSNBODF UP SFDPSE

t 3FDPSE NPWJF UP B MPXFS RVBMJUZ t $IBOHF NFNPSZ DBSE UP GBTUFS POF ¬ QBHF

*OGPSNT UIBU

"DUJPO

-PX 4QFFE $BSE 1MFBTF SFDPSE B -PXFS RVBMJUZ

*DPO

3FDPSEJOH .FTTBHF

*DPO

8SJUF &SSPS

4PNF QSPCMFNT PDDVS XIJMF XSJUJOH EBUB UP TUPSBHF NFEJB

t 'PSNBU TUPSBHF NFEJB VTJOH NFOVT BGUFS CBDL VQ JNQPSUBOU GJMFT UP 1$ PS BOPUIFS TUPSBHF NFEJB

3FMFBTF UIF &"4: 2

:PV DBO OPU PQFSBUF TPNF GVODUJPOT NBOVBMMZ XIFO &"4: 2 JT BDUJWBUFE

t 3FMFBTF &"4: 2 GVODUJPO

3FDPWFSJOH %BUBy

5IF GJMF XBT OPU DSFBUFE OPSNBMMZ

t 8BJU VOUJM EBUB SFDPWFSZ JT GJOJTIFE t /FWFS UVSO PGG UIF QPXFS PS FKFDU NFNPSZ DBSE EVSJOH SFDPSEJOH

@ &OHMJTI

.FTTBHF

*DPO

"DUJWBUF SFNPUF DPOUSPM /VNCFS PG WJEFP GJMFT JT GVMM $BOOPU SFDPSE WJEFP /VNCFS PG QIPUP GJMFT JT GVMM $BOOPU UBLF B QIPUP

*OGPSNT UIBU

"DUJPO

3FNPUF GVODUJPO XBT TFU UP PGG

t 4FU i3FNPUFw GVODUJPO UP i0O w

'PMEFS BOE GJMFT IBWF SFBDIFE DBQBDJUZ t 4FU i'JMF /P w UP i3FTFU w BOE ZPV DBO OPU SFDPSE 'PMEFS BOE GJMFT IBWF SFBDIFE DBQBDJUZ t 4FU i'JMF /P w UP i3FTFU w BOE ZPV DBO OPU UBLF B QJDUVSF

1MBZCBDL .FTTBHF

*DPO

/PU FOPVHI GSFF TQBDF JO .FNPSZ

/PU FOPVHI GSFF TQBDF JO $BSE

%JGGFSFOU GPSNBU

3FBE &SSPS

*OGPSNT UIBU 'JMF FEJUJOH GVODUJPOT DBO OPU CF QFSGPSNFE CFDBVTF UIFSF JT OPU FOPVHI GSFF TQBDF JO UIF CVJMU JO NFNPSZ 'JMF FEJUJOH GVODUJPOT DBO OPU CF QFSGPSNFE CFDBVTF UIFSF JT OPU FOPVHI GSFF TQBDF JO UIF NFNPSZ DBSE t 5IF GJMFT ZPV XBOU UP DPNCJOF BSF JO B EJGGFSFOU GPSNBU t " GJMF ZPV XBOU UP BEE JO QMBZMJTU IBT EJGGFSFOU GPSNBU XJUI UIF QMBZMJTU ZPV TFMFDUFE 4PNF QSPCMFNT PDDVSSFE EVSJOH SFBEJOH EBUB GSPN TUPSBHF NFEJB

"DUJPO t %FMFUF VOOFDFTTBSZ GJMFT PO UIF TUPSBHF NFEJB t #BDL VQ GJMFT UP 1$ PS BOPUIFS TUPSBHF NFEJB BOE EFMFUF GJMFT t %FMFUF VOOFDFTTBSZ GJMFT PO UIF TUPSBHF NFEJB t #BDL VQ GJMFT UP 1$ PS BOPUIFS TUPSBHF NFEJB BOE EFMFUF GJMFT

*OGPSNT UIBU

"DUJPO t $IFDL UIF 64# DBCMF t 5SZ UIF DPOOFDUJOH QSPDFEVSF BHBJO t 4XJUDI i64# $POOFDUw GVODUJPO UP i.BTT 4UPSBHF w t $IFDL UIF 64# DBCMF t 5SZ UIF DPOOFDUJOH QSPDFEVSF BHBJO t 4XJUDI i64# $POOFDUw GVODUJPO UP i1JDU#SJEHF w t $IFDL UIF JOL DBSUSJEHF t 1VU B OFX JOL DBSUSJEHF JO UIF QSJOUFS t $IFDL UIF QBQFS JO UIF QSJOUFS *G UIFSF JT OP QBQFS JOTFSU UIF QBQFS t :PVS )% DBNDPSEFS EPFT OPU TVQQPSU UIJT GJMF GPSNBU t 5SZ BOPUIFS GJMF SFDPSEFE PO ZPVS )% DBNDPSEFS t 5VSO UIF QSJOUFS T QPXFS PGG BOE PO t $POUBDU UIF QSJOUFS NBOVGBDUVSFS T TFSWJDF DFOUSF t %P OPU SFNPWF QPXFS TPVSDF PS FKFDU NFNPSZ DBSE EVSJOH QSJOUJOH

t *U JT OPU QPTTJCMF UP DPNCJOF UXP GJMFT UIBU IBWF EJGGFSFOU SFDPSEJOH GPSNBU t *U JT OPU QPTTJCMF UP BEE B GJMF UIBU IBT EJGGFSFOU SFDPSEJOH GPSNBU XJUI UIF TFMFDUFE QMBZMJTU t 'PSNBU TUPSBHF NFEJB VTJOH NFOVT BGUFS CBDL VQ JNQPSUBOU GJMFT UP 1$ PS BOPUIFS TUPSBHF EFWJDF

64# .FTTBHF

*DPO

'BJM 1SJOUFS $POOFDUJOH $IBOHF A64# $POOFDU

" QSPCMFN PDDVSSFE XIFO DPOOFDUJOH UIF DBNDPSEFS WJB 64# UP B QSJOUFS

'BJM 64# $POOFDUJOH $IBOHF A64# $POOFDU

" QSPCMFN PDDVSSFE XIFO DPOOFDUJOH UIF DBNDPSEFS WJB 64# UP B 1$

*OL &SSPS

5IFSF JT B QSPCMFN XJUI UIF JOL DBSUSJEHF

1BQFS &SSPS

5IFSF JT B QSPCMFN XJUI UIF QBQFS

'JMF &SSPS

5IFSF JT B QSPCMFN XJUI UIF GJMF

1SJOUFS &SSPS

5IFSF JT B QSPCMFN XJUI UIF QSJOUFS

1SJOU &SSPS

" QSPCMFN PDDVSSFE EVSJOH QSJOUJOH

&OHMJTI @

USPVCMFTIPPUJOH 8IFO UIFSF JT EFX DPOEFOTBUJPO QVU UIF DBNDPSEFS BTJEF GPS B XIJMF CFGPSF VTJOH t 8IBU JT EFX DPOEFOTBUJPO $"65*0/ %FX DPOEFOTBUJPO IBQQFOT XIFO B )% DBNDPSEFS JT NPWFE UP B QMBDF XIFSF UIFSF JT B TJHOJGJDBOU UFNQFSBUVSF EJGGFSFODF GSPN UIF QSFWJPVT QMBDF 5IF %FX DPOEFOTFT PO UIF FYUFSOBM PS JOUFSOBM MFOTFT PG UIF )% DBNDPSEFS BOE PO UIF SFGMFDUJPO MFOT 8IFO UIJT IBQQFOT JU NBZ DBVTF B NBMGVODUJPO PS EBNBHF UP UIF )% DBNDPSEFS XIFO VTJOH UIF EFWJDF XJUI UIF QPXFS PO XIJMF UIFSF JT EFX DPOEFOTBUJPO t 8IBU DBO * EP 5VSO UIF QPXFS PGG BOE EFUBDI UIF CBUUFSZ QBDL BOE MFBWF JU JO B ESZ BSFB GPS _ IPVST CFGPSF VTJOH JU t 8IFO EPFT UIF EFX DPOEFOTBUJPO PDDVS 8IFO UIF EFWJDF JT SFMPDBUFE UP B QMBDF XJUI B IJHIFS UFNQFSBUVSF UIBO UIF QSFWJPVT MPDBUJPO PS XIFO VTJOH JU JO B IPU BSFB TVEEFOMZ JU XJMM DBVTF DPOEFOTBUJPO 8IFO SFDPSEJOH PVUTJEF JO DPME XFBUIFS EVSJOH UIF XJOUFS BOE UIFO VTJOH JU JOEPPST 8IFO SFDPSEJOH PVUTJEF JO IPU XFBUIFS BGUFS CFJOH JOEPPST PS JOTJEF B DBS XIFSF UIF " $ XBT SVOOJOH /PUF CFGPSF TFOEJOH ZPVS DBNDPSEFS GPS SFQBJS t *G UIFTF JOTUSVDUJPOT EP OPU TPMWF ZPVS QSPCMFN DPOUBDU ZPVS OFBSFTU 4BNTVOH BVUIPSJ[FE TFSWJDF DFOUSF t %FQFOEJOH PO UIF QSPCMFN UIF CVJMU JO NFNPSZ NBZ OFFE UP CF JOJUJBMJ[FE PS SFQMBDFE BOE UIF EBUB XJMM CF EFMFUFE #F TVSF UP CBDL VQ UIF EBUB PO ZPVS 1$ CFGPSF TFOEJOH ZPVS DBNDPSEFS GPS SFQBJS 4BNTVOH DBOOPU HVBSBOUFF BOZ MPTT PG ZPVS EBUB

@ &OHMJTI

* *G UIFTF JOTUSVDUJPOT EP OPU TPMWF ZPVS QSPCMFN DPOUBDU ZPVS OFBSFTU 4BNTVOH BVUIPSJ[FE TFSWJDF DFOUSF

4ZNQUPNT BOE TPMVUJPOT 1PXFS 4ZNQUPN

&YQMBOBUJPO 4PMVUJPO

5IF )% DBNDPSEFS EPFT OPU UVSO PO

t 5IF CBUUFSZ QBDL NBZ OPU CF JOTUBMMFE PO ZPVS )% DBNDPSEFS *OTFSU UIF CBUUFSZ QBDL JO UIF )% DBNDPSEFS t 5IF JOTFSUFE CBUUFSZ QBDL NBZ CF EJTDIBSHFE $IBSHF UIF CBUUFSZ QBDL PS SFQMBDF JU XJUI B DIBSHFE POF t *G ZPV VTF "$ QPXFS BEBQUPS NBLF TVSF JU JT QSPQFSMZ DPOOFDUFE UP XBMM PVUMFU

5IF QPXFS UVSOT PGG BVUPNBUJDBMMZ

t *T i"VUP 1PXFS 0GGw TFU UP i NJOw *G OP CVUUPO JT QSFTTFE GPS BCPVU NJOVUFT UIF )% DBNDPSEFS JT BVUPNBUJDBMMZ UVSOFE PGG i"VUP 1PXFS 0GGw 5P EJTBCMF UIJT PQUJPO DIBOHF UIF TFUUJOH PG i"VUP 1PXFS 0GGw UP i0GG w ¬QBHF t 5IF CBUUFSZ QBDL JT BMNPTU FYIBVTUFE $IBSHF UIF CBUUFSZ QBDL PS SFQMBDF JU XJUI B DIBSHFE POF

1PXFS DBOOPU CF UVSOFE PGG

t 3FNPWF UIF CBUUFSZ QBDL PS VOQMVH "$ QPXFS BEBQUPS BOE DPOOFDU UIF QPXFS TVQQMZ UP UIF DBNDPSEFS BHBJO CFGPSF UVSOJOH JU PO

5IF CBUUFSZ QBDL JT RVJDLMZ EJTDIBSHFE

t 5IF UFNQFSBUVSF JT UPP MPX t 5IF CBUUFSZ QBDL JT OPU GVMMZ DIBSHFE $IBSHF UIF CBUUFSZ QBDL BHBJO t 5IF CBUUFSZ QBDL SFBDIFE JUT MJGFTQBO BOE DBOOPU CF SFDIBSHFE 6TF BOPUIFS CBUUFSZ QBDL

&OHMJTI @

USPVCMFTIPPUJOH %JTQMBZT 4ZNQUPN

&YQMBOBUJPO 4PMVUJPO

5IF 57 TDSFFO PS -$% EJTQMBZ IBT t *U DBO PDDVS XIFO SFDPSEJOH PS WJFXJOH B SBUJP JNBHF PO B SBUJP EJTUPSUFE JNBHFT PS IBT TUSJQFT BU UIF 57 PS WJDF WFSTB 'PS NPSF EFUBJMT TFF UIF EJTQMBZ TQFDJGJDBUJPO UPQ CPUUPN PS PO UIF MFGU SJHIU ¬QBHF 6OLOPXO JNBHF BQQFBST PO UIF -$% t 5IF )% DBNDPSEFS JT JO %FNP NPEF *G ZPV EP OPU XBOU UP TFF %FNP TDSFFO JNBHF DIBOHF UIF TFUUJOH i%FNPw UP i0GG w ¬QBHF 6OLOPXO JOEJDBUPS BQQFBST PO UIF TDSFFO

t " XBSOJOH JOEJDBUPS PS NFTTBHF BQQFBST PO UIF TDSFFO ¬QBHFT

5IF BGUFSJNBHF SFNBJOT PO UIF -$% TDSFFO

t 5IJT PDDVST JG ZPV EJTDPOOFDU UIF "$ QPXFS BEBQUPS PS SFNPWF UIF CBUUFSZ QBDL CFGPSF UVSOJOH UIF QPXFS PGG

5IF JNBHF PO UIF -$% TDSFFO MPPLT EBSL

t "NCJFOU MJHIU UPP CSJHIU "EKVTU UIF CSJHIUOFTT BOE BOHMF PG -$% t 6TF -$% FOIBODFS GVODUJPO

3FDPSEJOH 4ZNQUPN

&YQMBOBUJPO 4PMVUJPO

¬QBHF t 1SFTT UIF .0%& CVUUPO UP TFU .PWJF 1SFTTJOH UIF 3FDPSEJOH TUBSU TUPQ t 5IFSF JT OPU FOPVHI GSFF TQBDF UP SFDPSE PO UIF TUPSBHF NFEJB CVUUPO EPFT OPU TUBSU SFDPSEJOH t $IFDL JG NFNPSZ DBSE JT OPU JOTFSUFE PS XSJUF QSPUFDU UBC JT TFU UP MPDL t 5IF FTUJNBUFE SFDPSEJOH UJNF NBZ WBSZ EFQFOEJOH PO DPOUFOU BOE 5IF BDUVBM SFDPSEJOH UJNF JT MFTT UIBO GFBUVSFT VTFE UIF FTUJNBUFE SFDPSEJOH UJNF t 8IFO ZPV SFDPSE BO PCKFDU UIBU NPWFT GBTU UIF BDUVBM SFDPSEJOH UJNF NBZ CF TIPSUFOFE

@ &OHMJTI

4ZNQUPN

&YQMBOBUJPO 4PMVUJPO

5IF SFDPSEJOH TUPQT BVUPNBUJDBMMZ

t 5IFSF JT OP NPSF GSFF TQBDF GPS SFDPSEJOH PO UIF TUPSBHF NFEJB #BDL VQ JNQPSUBOU GJMFT PO ZPVS 1$ BOE GPSNBU UIF TUPSBHF NFEJB PS EFMFUF UIF VOOFDFTTBSZ GJMFT t *G ZPV NBLF SFDPSEJOHT PS EFMFUF GJMFT GSFRVFOUMZ UIF QFSGPSNBODF PG UIF TUPSBHF NFEJB XJMM CF EFUFSJPSBUFE *O UIJT DBTF GPSNBU UIF TUPSBHF NFEJB BHBJO t *G ZPV VTF UIF NFNPSZ DBSE XJUI MPX XSJUJOH TQFFE UIF )% DBNDPSEFS BVUPNBUJDBMMZ TUPQT SFDPSEJOH UIF NPWJF JNBHFT BOE UIF DPSSFTQPOEJOH NFTTBHF BQQFBST PO UIF -$% TDSFFO

8IFO SFDPSEJOH B TVCKFDU JMMVNJOBUFE CZ CSJHIU MJHIU B WFSUJDBM MJOF BQQFBST 8IFO UIF TDSFFO JT FYQPTFE UP EJSFDU TVOMJHIU EVSJOH SFDPSEJOH UIF TDSFFO CFDPNFT SFE PS CMBDL GPS BO JOTUBOU %VSJOH SFDPSEJOH UIF EBUF UJNF EPFT OPU EJTQMBZ

t 5IJT JT OPU B NBMGVODUJPO t 5IJT JT OPU B NBMGVODUJPO t i%BUF 5JNFw JT TFU UP i0GG w 4FU UIF i%BUF 5JNFw UP 0O ¬QBHF

:PV DBOOPU SFDPSE B QIPUP JNBHF

t 4FU ZPVS )% DBNDPSEFS UP 1IPUP NPEF ¬QBHF t 3FMFBTF UIF MPDL PO UIF XSJUF QSPUFDUJPO UBC PG UIF NFNPSZ DBSE JG BOZ t 5IF TUPSBHF NFEJB JT GVMM 6TF B OFX NFNPSZ DBSE PS GPSNBU UIF TUPSBHF NFEJB ¬QBHF 0S SFNPWF VOOFDFTTBSZ JNBHFT ¬QBHF

5IF TIVUUFS TPVOE JT OPU IFBSE XIFO ZPV SFDPSE B QIPUP JNBHF

t 4FU i4IVUUFS 4PVOEw UP i0O w

5IF CFFQ TPVOE JT OPU IFBSE

t 4FU i#FFQ 4PVOEw UP i0O w t #FFQ TPVOE JT UFNQPSBMMZ PGG XIJMF SFDPSEJOH NPWJFT

5IFSF JT B UJNF EJGGFSFODF CFUXFFO UIF QPJOU XIFSF ZPV QSFTT 3FDPSEJOH TUBSU TUPQ CVUUPO BOE UIF QPJOU XIFSF UIF SFDPSEFE NPWJF TUBSUT TUPQT

t 0O ZPVS DBNDPSEFS UIFSF NBZ CF B TMJHIU UJNF EFMBZ CFUXFFO UIF QPJOU XIFO ZPV QSFTT 3FDPSEJOH TUBSU TUPQ CVUUPO BOE UIF BDUVBM QPJOU XIFSF UIF SFDPSEFE NPWJF TUBSUT TUPQT 5IJT JT OPU BO FSSPS

t 5IF NBYJNVN BWBJMBCMF SFDPSEJOH UJNF EJTQMBZFE JT NJOVUFT BOE UIF NBYJNVN OVNCFS PG SFDPSEBCMF JNBHFT EJTQMBZFE JT FWFO UIPVHI 5IF BWBJMBCMF SFDPSEJOH UJNF PS UIF UIF BDUVBM DPVOU FYDFFET UIF WBMVF EJTQMBZFE )PXFWFS UIF BDUVBM BWBJMBCMF OVNCFS PG SFDPSEBCMF JNBHFT EJTQMBZFE SFDPSEJOH UJNF JT OPU BGGFDUFE CZ UIF DPVOU EJTQMBZFE EPFT OPU EFDSFBTF 'PS FYBNQMF XIFO UIF BDUVBM BWBJMBCMF SFDPSEJOH UJNF JT i w NJOVUFT i w XJMM CF EJTQMBZFE PO UIF TDSFFO

&OHMJTI @

USPVCMFTIPPUJOH 4UPSBHF .FEJB 4ZNQUPN .FNPSZ DBSE GVODUJPOT BSF OPU PQFSBCMF

*NBHF DBOOPU CF EFMFUFE

:PV DBOOPU GPSNBU UIF NFNPSZ DBSE

5IF EBUB GJMF OBNF JT OPU JOEJDBUFE DPSSFDUMZ

@ &OHMJTI

&YQMBOBUJPO 4PMVUJPO t *OTFSU B NFNPSZ DBSE JOUP ZPVS DBNDPSEFS QSPQFSMZ ¬QBHF t *G ZPV VTF B NFNPSZ DBSE GPSNBUUFE PO B DPNQVUFS GPSNBU JU BHBJO EJSFDUMZ PO ZPVS DBNDPSEFS ¬QBHF t 3FMFBTF UIF MPDL PO UIF XSJUF QSPUFDU UBC PG UIF NFNPSZ DBSE 4%)$ NFNPSZ DBSE JG BOZ ¬QBHF t :PV DBOOPU NPWF PS EFMFUF UIF QSPUFDUFE JNBHFT 3FMFBTF UIF QSPUFDUJPO PG UIF JNBHF PO UIF EFWJDF ¬QBHF t 3FMFBTF UIF MPDL PO UIF XSJUF QSPUFDU UBC PG UIF NFNPSZ DBSE 4%)$ NFNPSZ DBSE JG BOZ ¬QBHF t 5IF NFNPSZ DBSE JT OPU TVQQPSUFE PO ZPVS DBNDPSEFS PS DBSE IBT TPNF QSPCMFNT t 5IF GJMF NBZ CF DPSSVQUFE t 5IF GJMF GPSNBU JT OPU TVQQPSUFE CZ ZPVS )% DBNDPSEFS t 0OMZ UIF GJMF OBNF JT EJTQMBZFE JG UIF EJSFDUPSZ TUSVDUVSF DPNQMJFT XJUI UIF JOUFSOBUJPOBM TUBOEBSE

"EKVTUJOH UIF JNBHF EVSJOH SFDPSEJOH 4ZNQUPN

'PDVT EPFT OPU BEKVTU BVUPNBUJDBMMZ

5IF JNBHF BQQFBST UPP CSJHIU PS GMJDLFSJOH PS DIBOHFT JO DPMPVS *NBHF T DPMPVS CBMBODF JT OPU OBUVSBM 5IF TVCKFDU QBTTJOH CZ UIF GSBNF WFSZ RVJDLMZ BQQFBST

&YQMBOBUJPO 4PMVUJPO t 4FU i'PDVTw UP i"VUP w ¬QBHF t 5IF SFDPSEJOH DPOEJUJPOT BSF OPU TVJUBCMF GPS BVUP GPDVT "EKVTU UIF GPDVT NBOVBMMZ ¬QBHF t 5IF MFOT JT EVTUZ PO UIF TVSGBDF $MFBS UIF MFOT BOE DIFDL UIF GPDVT t 3FDPSEJOH JT CFJOH NBEF JO B EBSL MPDBUJPO 6TF B MJHIU UP CSJHIUFO UIF BSFB t 5IJT NBZ PDDVS XIFO ZPV NBLF B SFDPSEJOH VOEFS B GMVPSFTDFOU TPEJVN PS NFSDVSZ MBNQ $BODFM i4DFOF .PEF "& w UP BWPJE PS NJOJNJTF UIJT QIFOPNFOPO ¬QBHF t 8IJUF CBMBODF BEKVTUNFOU JT SFRVJSFE "EKVTU UP UIF QSPQFS i8IJUF #BMBODF w ¬QBHF t 5IJT JT DBMMFE UIF GPDBM QMBOF QIFOPNFOPO 5IJT JT OPU B NBMGVODUJPO #FDBVTF PG UIF XBZ UIF JNBHF EFWJDF $.04 TFOTPS SFBET PVU WJEFP TJHOBMT UIF TVCKFDU QBTTJOH CZ UIF GSBNF SBQJEMZ NBZ BQQFBS UP CFOE EFQFOEJOH PO UIF SFDPSEJOH DPOEJUJPO

1MBZCBDL PO ZPVS )% DBNDPSEFS 4ZNQUPN

&YQMBOBUJPO 4PMVUJPO

6TJOH UIF QMBZCBDL 1MBZ 1BVTF

GVODUJPO XPVME OPU TUBSU QMBZJOH

t *NBHF GJMFT SFDPSEFE VTJOH BOPUIFS EFWJDF NBZ OPU CF QMBZFE PO ZPVS )% DBNDPSEFS t $IFDL PVU UIF NFNPSZ DBSE DPNQBUJCJMJUZ ¬QBHF

&OHMJTI @

USPVCMFTIPPUJOH 4ZNQUPN

&YQMBOBUJPO 4PMVUJPO

1IPUP JNBHFT TUPSFE PO B TUPSBHF t 1IPUP JNBHFT SFDPSEFE PO PUIFS EFWJDF NBZ OPU BQQFBS JO UIF BDUVBM NFEJB BSF OPU EJTQMBZFE JO UIF BDUVBM TJ[F 5IJT JT OPU BO FSSPS TJ[F 1MBZCBDL JT JOUFSSVQUFE VOFYQFDUFEMZ

t $IFDL JG UIF "$ QPXFS BEBQUPS PS CBUUFSZ CBDL JT QSPQFSMZ DPOOFDUFE BOE TFDVSF

1MBZCBDL PO PUIFS EFWJDFT 57 FUD

4ZNQUPN

&YQMBOBUJPO 4PMVUJPO

:PV DBOOPU WJFX UIF JNBHF PS IFBS UIF TPVOE GSPN UIF DPOOFDUFE EFWJDF

t $POOFDU UIF BVEJP PG UIF DPNQPOFOU PS .VMUJ "7 DBCMF UP ZPVS DBNDPSEFS PS DPOOFDUFE EFWJDF 57 )% SFDPSEFS FUD

3FE DPMPVS SJHIU 8IJUF DPMPVS MFGU

t 5IF DPOOFDUJPO DBCMF .VMUJ "7 DBCMF DPNQPOFOU DBCMF FUD JT OPU DPOOFDUFE QSPQFSMZ .BLF TVSF UIBU UIF DPOOFDUJPO DBCMF JT DPOOFDUFE UP UIF QSPQFS KBDL ¬QBHFT t 8IFO ZPV BSF VTJOH UIF 4 7JEFP DBCMF NBLF TVSF UP DPOOFDU SFE BOE XIJUF QMVHT PG ZPVS .VMUJ "7 DBCMF TFQBSBUFMZ TJODF 4 7JEFP DBCMF EPFT OPU TVQQPSU BVEJP ¬QBHFT t 8IFO ZPV BSF VTJOH UIF DPNQPOFOU DBCMF NBLF TVSF UIF SFE BOE XIJUF QMVHT PG ZPVS DPNQPOFOU DBCMF BSF DPOOFDUFE ¬QBHFT

@ &OHMJTI

4ZNQUPN

&YQMBOBUJPO 4PMVUJPO

5IF JNBHF BQQFBST EJTUPSUFE PO B 57

t 5IJT IBQQFOT XIFO 57 UZQF PG UIF )% DBNDPSEFS JT EJGGFSFOU GSPN UIF 57 4FU UIF 57 UZQF UP NBUDI UIF BTQFDU SBUJP PG ZPVS 57 ¬QBHF

:PV DBOOPU WJFX UIF JNBHF PS IFBS UIF TPVOE GSPN B 57 DPOOFDUFE VTJOH UIF )%.* DBCMF

t *NBHFT XJMM OPU CF PVUQVU GSPN UIF )%.* KBDL JG UIF NBUFSJBM JT DPQZSJHIU QSPUFDUFE

$POOFDUJOH %VCCJOH XJUI PUIFS EFWJDFT 3FDPSEFS 1$ 1SJOUFS FUD

4ZNQUPN

&YQMBOBUJPO 4PMVUJPO

:PV DBOOPU EVC DPSSFDUMZ VTJOH UIF )%.* DBCMF

t :PV DBOOPU EVC JNBHFT VTJOH UIF )%.* DBCMF

:PV DBOOPU EVC DPSSFDUMZ VTJOH UIF .VMUJ "7 DBCMF

t 5IF .VMUJ "7 DBCMF JT OPU DPOOFDUFE QSPQFSMZ .BLF TVSF UIBU UIF .VMUJ "7 DBCMF JT DPOOFDUFE UP UIF QSPQFS KBDL J F UP UIF JOQVU KBDL PG UIF EFWJDF VTFE GPS EVCCJOH JNBHFT GSPN ZPVS DBNDPSEFS ¬QBHF

1SJOUPVUT DBOOPU CF NBEF VTJOH B 1JDU#SJEHF QSJOUFS

t :PVS QSJOUFS NBZ OPU QSJOU JNBHFT FEJUFE PO B DPNQVUFS PS SFDPSEFE VTJOH PUIFS EFWJDF 5IJT JT OPU BO FSSPS

&OHMJTI @

USPVCMFTIPPUJOH $POOFDUJOH UP B DPNQVUFS 4ZNQUPN

&YQMBOBUJPO 4PMVUJPO

5IF DPNQVUFS EPFT OPU SFDPHOJTF ZPVS )% DBNDPSEFS

t :PV DBO OPU VTF UIF )% DBNDPSEFS XJUI B .BDJOUPTI t %JTDPOOFDU UIF 64# DBCMF GSPN UIF DPNQVUFS BOE DBNDPSEFS SFTUBSU UIF DPNQVUFS UIFO DPOOFDU JU BHBJO DPSSFDUMZ

$BOOPU QMBZ B NPWJF GJMF QSPQFSMZ PO B 1$

t " WJEFP DPEFD JT OFFEFE UP QMBZ UIF GJMF SFDPSEFE PO ZPVS )% DBNDPSEFS *OTUBMM UIF TPGUXBSF QSPWJEFE XJUI ZPVS DBNDPSEFS ¬QBHFT 1MFBTF JOTUBMM CZ VTJOH UIF TPGUXBSF $% UIBU DBNF XJUI UIJT DBNDPSEFS 8F EP OPU HVBSBOUFF DPNQBUJCJMJUZ GPS EJGGFSFOU $% WFSTJPOT t .BLF TVSF ZPV JOTFSU UIF DPOOFDUPS JO UIF DPSSFDU EJSFDUJPO BOE DPOOFDU UIF 64# DBCMF UP UIF 64# KBDL PO ZPVS DBNDPSEFS GJSNMZ t %JTDPOOFDU UIF DBCMF GSPN UIF DPNQVUFS BOE DBNDPSEFS SFTUBSU UIF DPNQVUFS $POOFDU JU BHBJO QSPQFSMZ

$BOOPU VTF UIF QSPWJEFE TPGUXBSF %7% 4VJUF PO B .BDJOUPTI DPNQVUFS %7% 4VJUF EPFT OPU GVODUJPO QSPQFSMZ 5IF JNBHF PS TPVOE PO ZPVS DBNDPSEFS JT OPU QMBZFE PO ZPVS DPNQVUFS QSPQFSMZ

5IF QMBZCBDL TDSFFO JT QBVTFE PS EJTUPSUFE

@ &OHMJTI

t :PV DBOOPU VTF %7% 4VJUF XJUI B .BDJOUPTI DPNQVUFS t &YJU UIF %7% 4VJUF QSPHSBN BOE SFTUBSU UIF 8JOEPXT DPNQVUFS t .PWJF QMBZCBDL PS TPVOE NBZ TUPQ UFNQPSBSJMZ EFQFOEJOH PO ZPVS DPNQVUFS 5IF NPWJF PS TPVOE DPQJFE UP ZPVS DPNQVUFS JT OPU BGGFDUFE t *G ZPVS DBNDPSEFS JT DPOOFDUFE UP B DPNQVUFS UIBU EPFT OPU TVQQPSU )J TQFFE 64# 64# UIF JNBHF PS TPVOE NBZ OPU CF QMBZFE DPSSFDUMZ 5IF JNBHF BOE TPVOE DPQJFE UP ZPVS DPNQVUFS BSF OPU BGGFDUFE t $IFDL UIF TZTUFN SFRVJSFNFOUT UP QMBZ B NPWJF ¬QBHF t &YJU PUIFS BMM BQQMJDBUJPOT SVOOJOH PO UIF DVSSFOU DPNQVUFS t *G B SFDPSEFE NPWJF JT QMBZFE PO ZPVS DBNDPSEFS DPOOFDUFE UP B DPNQVUFS UIF JNBHF NBZ OPU QMBZ TNPPUIMZ EFQFOEJOH PO UIF USBOTGFS TQFFE 1MFBTF DPQZ UIF GJMF UP ZPVS 1$ BOE UIFO QMBZ JU CBDL

0WFSBMM PQFSBUJPOT 4ZNQUPN 5IF EBUF BOE UJNF BSF JODPSSFDU

&YQMBOBUJPO 4PMVUJPO t )BT UIF DBNDPSEFS CFFO MFGU VOVTFE GPS B MPOH QFSJPE PG UJNF 5IF CBDLVQ CVJMU JO SFDISHFBCMF CBUUFSZ NBZ CF EJTDIBSHFE ¬QBHF

5IF DBNDPSEFS EPFT OPU UVSO PO PS EPFT OPU PQFSBUF CZ QSFTTJOH BOZ CVUUPO

t 3FNPWF UIF CBUUFSZ QBDL PS VOQMVH "$ QPXFS BEBQUPS BOE DPOOFDU UIF QPXFS TVQQMZ UP UIF DBNDPSEFS BHBJO CFGPSF UVSOJOH JU PO

-FOT DPWFS JT OPU DMPTFE FWFO XIFO UIF QPXFS JT PGG

t 5IF MFOT DPWFS PQFOT BVUPNBUJDBMMZ XIFO UIF QPXFS JT UVSOFE PO *U DMPTFT XIFO UIF QMBZCBDL TDSFFO JT TFMFDUFE PS UIF QPXFS JT TXJUDIFE PGG 5VSO PO ZPVS DBNDPSEFS BOE PGG BHBJO XJUI UIF 108&3 TXJUDI #F TVSF UP TMJEF UIF 108&3 TXJUDI UP 0GG

.FOV 4ZNQUPN

&YQMBOBUJPO 4PMVUJPO t :PV DBOOPU TFMFDU HSBZFE JUFNT JO UIF DVSSFOU SFDPSEJOH QMBZCBDL NPEF t .FOV BOE RVJDL NFOV DBOOPU CF VTFE JO &"4: 2 NPEF t 5IF GPMMPXJOH GVODUJPOT DBOOPU CF VTFE EVSJOH SFDPSEJOH i4UPSBHF w i3FTPMVUJPO w i8IJUF #BMBODF $VTUPN 8# w PG 2VJDL .FOV BOE .FOV t .PTU PG UIF GVODUJPOT DBOOPU CF VTFE EVSJOH SFDPSEJOH JO <4%>4MPX .PUJPO t 5IFSF BSF TPNF GVODUJPOT ZPV DBOOPU BDUJWBUF TJNVMUBOFPVTMZ 5IF GPMMPXJOH MJTU TIPXT FYBNQMFT PG VOXPSLBCMF DPNCJOBUJPOT PG GVODUJPOT BOE NFOV JUFNT

.FOV JUFNT BSF HSBZFE PVU

$BOOPU VTF #FDBVTF PG UIF GPMMPXJOH TFUUJOHT i4DFOF .PEF "& w

i &YQPTVSF .BOVBMw i4IVUUFS .BOVBMw i4VQFS $ /JUF w i%JHJUBM &GGFDU $JOFNB 5POF w i3FTPMVUJPO <4%>4MPX .PUJPOw

i%JHJUBM ;PPNw

i 'BDF %FUFDU 0O w i'PDVT 5PVDI 1PJOU w i3FTPMVUJPO <4%>4MPX .PUJPOw

i4VQFS $ /JUFw

i4DFOF .PEF "& w i3FTPMVUJPO <4%>4MPX .PUJPO w i&YQPTVSF .BOVBMw &OHMJTI @

.FOV 4ZNQUPN

&YQMBOBUJPO 4PMVUJPO $BOOPU VTF #FDBVTF PG UIF GPMMPXJOH TFUUJOHT i&YQPTVSFw

i 4IVUUFS .BOVBM w i4VQFS $ /JUF w i*40 w #VJMU JO 'MBTI

i"OUJ 4IBLF &*4 w

i 3FTPMVUJPO <4%>4MPX .PUJPO w i$POU 4IPU w i 4IVUUFS .BOVBM JO 1IPUP .PEF w #VJMU JO 'MBTI

i'PDVT 5PVDI 1PJOUw

i4IVUUFSw .FOV JUFNT BSF HSBZFE PVU

i 'BDF %FUFDU 0O w i 3FTPMVUJPO <4%>4MPX .PUJPO w i %JHJUBM ;PPN 0Ow i 3FTPMVUJPO <4%>4MPX .PUJPO w i4VQFS $ /JUF w i&YQPTVSF .BOVBM w i "OUJ 4IBLF &*4 w JO 1IPUP .PEF

i'BDF %FUFDUw

i 'PDVT 5PVDI 1PJOU w i%JHJUBM ;PPN 0O w i 3FTPMVUJPO <4%>4MPX .PUJPOw

i2VBMJUZw

i 3FTPMVUJPO <)%> Q PS <4%>4MPX .PUJPOw

i'BEFSw

i3FTPMVUJPO <4%>4MPX .PUJPOw

i$POU 4IPUw

i"OUJ 4IBLF &*4 0O w #VJMU JO 'MBTI

i*40w

i&YQPTVSF .BOVBMw

i%JHJUBM &GGFDU $JOFNB 5POFw i4DFOF .PEF "& w

@ &OHMJTI

TQFDJGJDBUJPOT .PEFM OBNF 71 ).9 $ 4ZTUFN 7JEFP TJHOBM 1JDUVSF DPNQSFTTJPO GPSNBU "VEJP DPNQSFTTJPO GPSNBU *NBHF EFWJDF -FOT 'PDBM MFOHUI 'JMUFS EJBNFUFS -$% TDSFFO 4J[F EPU OVNCFS -$% TDSFFO NFUIPE $POOFDUPST $PNQPTJUF PVUQVU $PNQPOFOU PVUQVU )%.* PVUQVU "VEJP PVUQVU 64# PVUQVU &YUFSOBM .*$ (FOFSBM 1PXFS TPVSDF 1PXFS TPVSDF UZQF 1PXFS DPOTVNQUJPO 3FDPSEJOH

0QFSBUJOH UFNQFSBUVSF 4UPSBHF UFNQFSBUVSF &YUFSOBM EJNFOTJPOT 8Y)Y%

8FJHIU *OUFSOBM .*$ 3FNPUF DPOUSPM

1") .1&( "7$

""$ "EWBODFE "VEJP $PEJOH

w $.04 $PNQMFNFOUBSZ .FUBM 0YJEF 4FNJDPOEVDUPS .BY . QJYFMT &GGFDUJWF . QJYFMT

' Y 0QUJDBM Y %JHJUBM &MFDUSPOJD [PPN MFOT _ NN

JODI XJEF L 5'5 -$% 7Q Q UFSNJOBUFE

: 7Q Q 1C 1S $C $S 7Q Q " UZQF DPOOFDUPS E#T UFSNJOBUFE

.JOJ # UZQF DPOOFDUPS TUFSFP %$ 7 -JUIJVN *PO CBUUFSZ QBDL 7 -JUIJVN *PO CBUUFSZ QBDL 1PXFS TVQQMZ 7_ 7 )[ 8 -$% PO

_ $ '_ '

$ _ $ ' _ '

NN JODIFT Y NN JODIFT Y NN JODIFT

H MC P[ &YDFQU GPS -JUIJVN *PO CBUUFSZ QBDL

0NOJ EJSFDUJPOBM TUFSFP NJDSPQIPOF *OEPPST HSFBUFS UIBO N GU TUSBJHIU MJOF 0VUEPPST BCPVU N GU TUSBJHIU MJOF

5IFTF UFDIOJDBM TQFDJGJDBUJPOT BOE EFTJHO NBZ CF DIBOHFE XJUIPVU OPUJDF &OHMJTI @

1PXFS 4PVSDFT 6OJUFE ,JOHEPN 0OMZ

5IF NBJOT MFBE PO UIF QPXFS BEBQUFS JT TVQQMJFE XJUI B NPVMEFE QMVH JODPSQPSBUJOH B GVTF 5IF WBMVF PG UIF GVTF JT JOEJDBUFE PO UIF QJO GBDF PG UIF QMVH BOE JG JU SFRVJSFT SFQMBDJOH B GVTF BQQSPWFE UP #4 PG UIF TBNF SBUJOH NVTU CF VTFE /FWFS VTF UIF QMVH XJUI UIF GVTF DPWFS PNJUUFE JG UIF DPWFS JT EFUBDIBCMF *G B SFQMBDFNFOU GVTF DPWFS JT SFRVJSFE JU NVTU CF PG UIF TBNF DPMPVS BT UIF QJO GBDF PG UIF QMVH 3FQMBDFNFOU DPWFST BSF BWBJMBCMF GSPN ZPVS EFBMFS *G UIF GJUUFE QMVH JT OPU TVJUBCMF GPS UIF QPXFS QPJOUT JO ZPVS IPVTF PS UIF DBCMF JT OPU MPOH FOPVHI UP SFBDI B QPXFS QPJOU ZPV TIPVME PCUBJO B TVJUBCMF TBGFUZ BQQSPWFE FYUFOTJPO MFBE PS DPOTVMU ZPVS EFBMFS GPS BTTJTUBODF )PXFWFS JG UIFSF JT OP BMUFSOBUJWF UP DVUUJOH PGG UIF QMVH SFNPWF UIF GVTF BOE UIFO TBGFMZ EJTQPTF PG UIF QMVH %P /05 DPOOFDU UIF QMVH UP B NBJOT TPDLFU BT UIFSF JT B SJTL PG TIPDL IB[BSE GSPN UIF CBSFE GMFYJCMF DPSE *.1035"/5 5IF XJSFT JO UIF NBJOT MFBE BSF DPMPVSFE JO BDDPSEBODF XJUI UIF GPMMPXJOH DPEF #-6& /&653"- #308/ -*7& "T UIFTF DPMPVST NBZ OPU DPSSFTQPOE UP UIF DPMPVSFE NBSRVFJOHT JEFOUJGZJOH UIF UFSNJOBMT JO ZPVS QMVH QSPDFFE BT GPMMPXT 5IF XJSF DPMPVSFE #-6& NVTU CF DPOOFDUFE UP UIF UFSNJOBM NBSRVFFE XJUI UIF MFUUFS / PS DPMPVSFE #-6& PS #-"$, 5IF XJSF DPMPVSFE #308/ NVTU CF DPOOFDUFE UP UIF UFSNJOBM NBSRVFFE XJUI UIF MFUUFS - PS DPMPVSFE #308/ PS 3&%

8"3/*/(

%P OPU DPOOFDU FJUIFS XJSF UP UIF FBSUI UFSNJOBM NBSRVFFE XJUI UIF MFUUFS & PS UIF FBSUI TZNCPM (3&&/ PS (3&&/ BOE :&--08 5IJT QBHF JT BQQMJDBCMF UP (SFBU #SJUBJO POMZ

PS DPMPVSFE

81,7(' .,1*'20 5IJT 4BNTVOH QSPEVDU JT XBSSBOUFE GPS UIF QFSJPE PG UXFMWF

NPOUIT GSPN UIF PSJHJOBM EBUF PG QVSDIBTF BHBJOTU EFGFDUJWF NBUFSJBMT BOE XPSLNBOTIJQ *O UIF FWFOU UIBU XBSSBOUZ TFSWJDF JT SFRVJSFE ZPV TIPVME SFUVSO UIF QSPEVDU UP UIF SFUBJMFS GSPN XIPN JU XBT QVSDIBTFE )PXFWFS 4BNTVOH "VUIPSJTFE %FBMFST BOE "VUIPSJTFE 4FSWJDF $FOUSFT JO PUIFS &$ $PVOUSJFT XJMM DPNQMZ XJUI UIF XBSSBOUZ PO UIF UFSNT JTTVFE UP QVSDIBTFST JO UIF DPVOUSZ DPODFSOFE *O DBTF PG EJGGJDVMUZ EFUBJMT PG PVS "VUIPSJTFE 4FSWJDF $FOUSFT BSF BWBJMBCMF GSPN 4BNTVOH &MFDUSPOJDT 6 , -UE $VTUPNFS $BSF $FOUSF 10 #PY &EJOCVSHI &) :# 6OJUFE ,JOHEPN 5FM 4".46/(

'BY 6OJUFE ,JOHEPN

5FM 'BY

3FQVCMJD PG *SFMBOE

8FC XXX TBNTVOH DPN VL

5(38%/,& 2) ,5(/$1'

 8"33"/5: $0/%*5*0/4

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

BOE BOZ TVDI SFQBJS XPSL BOE EBNBHF UP UIF QSPEVDUT DBVTFE CZ TVDI SFQBJS XPSL XJMM OPU CF DPWFSFE CZ UIJT XBSSBOUZ 5IJT QSPEVDU JT OPU DPOTJEFSFE UP CF EFGFDUJWF JO NBUFSJBMT OPS XPSLNBOTIJQ CZ SFBTPO UIBU JU SFRVJSFT BEBQUBUJPO JO PSEFS UP DPOGPSN UP OBUJPOBM PS MPDBM UFDIOJDBM PS TBGFUZ TUBOEBSET JO GPSDF JO BOZ $PVOUSZ PUIFS UIBO UIF POF GPS XIJDI UIF QSPEVDU XBT PSJHJOBMMZ EFTJHOFE BOE NBOVGBDUVSFE 5IJT XBSSBOUZ XJMM OPU DPWFS BOE OP SF JNCVSTFNFOU XJMM CF NBEF GPS TVDI BEBQUBUJPO OPS BOZ EBNBHF XIJDI NBZ SFTVMU 5IJT XBSSBOUZ DPWFST OPOF PG UIF GPMMPXJOH B 1FSJPEJD DIFDL VQT NBJOUFOBODF BOE SFQBJS PS SFQMBDFNFOU PG QBSUT EVF UP OPSNBM XFBS BOE UFBS C $PTU SFMBUJOH UP USBOTQPSU SFNPWBM PS JOTUBMMBUJPO PG UIF QSPEVDU D .JTVTF JODMVEJOH UIF GBJVSF UP VTF UIJT QSPEVDU GPS JUT OPSNBM QVSQPTFT PS JODPSSFDU JOTUBMMBUJPO E %BNBHF DBVTFE CZ -JHIUOJOH 8BUFS 'JSF "DUT PG (PE 8BS 1VCMJD %JTUVSCBODFT JODPSSFDU NBJOT WPMUBHF JNQSPQFS WFOUJMBUJPO PS BOZ PUIFS DBVTF CFZPOE UIF DPOUSPM PG 4BNTVOH 5IJT XBSSBOUZ JT WBMJE GPS BOZ QFSTPO XIP MFHBMMZ BDRVJSFE QPTTFTTJPO PG UIF QSPEVDU EVSJOH UIF XBSSBOUZ QFSJPE 5IF DPOTVNFST TUBUVUPSZ SJHIUT JO BOZ BQQMJDBCMF OBUJPOBM MFHJTMBUJPO XIFUIFS BHBJOTU UIF SFUBJMFS BSJTJOH GSPN UIF QVSDIBTF DPOUSBDU PS PUIFSXJTF BSF OPU BGGFDUFE CZ UIJT XBSSBOUZ 6OMFTT UIFSF JT OBUJPOBM MFHJTMBUJPO UP UIF DPOUSBSZ UIF SJHIUT VOEFS UIJT XBSSBOUZ BSF UIF DPOTVNFST TPMF SJHIUT BOE 4BNTVOH JUT TVCTJEJBSJFT BOE EJTUSJCVUPST TIBMM OPU CF MJBCMF GPS JOEJSFDU PS DPOTFRVFOUJBM MPTT PS BOZ EBNBHF UP SFDPSET DPNQBDU EJTDT WJEFPT PS BVEJP UBQFS PS BOZ PUIFS SFMBUFE FRVJQNFOU PS NBUFSJBM 4".46/( &-&$530/*$4 6 , -5%

ǼȁȁǹȈ *5((&(

ǹȖĮʌȘIJȑ ʌİȜȐIJȘ ȈĮȢ İȣȤĮȡȚıIJȠȪȝİ ȖȚĮ IJȘȞ İȝʌȚıIJȠıȪȞȘ ʌȠȣ įİȓȟĮIJİ ıIJȘȞ 6$0681* ȝİ IJȘȞ ĮȖȠȡȐ ĮȣIJȒȢ IJȘȢ ıȣıțİȣȒȢ ȉȠ ʌȡȠȧȩȞ ĮȣIJȩ IJȘȢ 6$0681* İȓȞĮȚ İȖȖȣȘȝȑȞȠ ȖȚĮ ʌİȡȓȠįȠ įȫįİțĮ

ȝȘȞȫȞ Įʌȩ IJȘȞ ȘȝİȡȠȝȘȞȓĮ ĮȖȠȡȐȢ IJȠȣ ȖȚĮ ĮȞIJĮȜȜĮțIJȚțȐ țĮȚ İȡȖĮIJȚțȐ ȈIJȘȞ ʌİȡȓʌIJȦıȘ ʌȠȣ șĮ ȤȡİȚĮıIJİȓ İʌȚıțİȣȒ IJȠ ʌȡȠȧȩȞ ĮȣIJȩ IJȘȢ 6$0681* șĮ ʌȡȑʌİȚ ȞĮ ıIJĮȜİȓ Ȓ ȞĮ ȝİIJĮijİȡșİȓ ıIJȠ İȟȠȣıȚȠįȠIJȘȝȑȞȠ VHUȞLFH ȝİ ȑȟȠįĮ IJȠȣ ĮȖȠȡĮıIJȒ ǼȟȠȣıȚȠįȠIJȘȝȑȞȠȚ ĮȞIJȚʌȡȩıȦʌȠȚ țĮȚ İȟȠȣıȚȠįȠIJȘȝȑȞĮ țȑȞIJȡĮ VHUȞLFH ıİ ȐȜȜİȢ ǼȣȡȦʌĮȧțȑȢ ȤȫȡİȢ șĮ ĮʌȠįİȤșȠȪȞ IJȠȣȢ ȩȡȠȣȢ IJȘȢ İȖȖȪȘıȘȢ ȆȜȘȡȠijȠȡȓİȢ ȖȚĮ IJĮ İȟȠȣıȚȠįȠIJȘȝȑȞĮ țȑȞIJȡĮ VHUȞLFH ıIJȘȞ ǼȜȜȐįĮ ȝʌȠȡİȓIJİ ȞĮ ʌȐȡİIJİ Įʌȩ IJȘȞ )285/O6 75$'( ǹ Ǽ Ǻ Ǽ ȁ ȀȡȣȠȞİȡȓȠȣ ȀȡȣȠȞȑȡȚ ǹIJIJȚțȒȢ ȉȘȜ Ŷ ǵȡȠȚ IJȘȢ İȖȖȪȘıȘȢ Ǿ İȖȖȪȘıȘ ȚıȤȪİȚ İȐȞ țĮȚ ȝȩȞȠ İȐȞ IJȠ ʌȡȠȧȩȞ ȤȡİȚȐȗİIJĮȚ VHUȞLFH țĮȚ Ș țȐȡIJĮ İȖȖȪȘıȘȢ ȑȤİȚ ʌȜȒȡȦȢ ıȣȝʌȜȘȡȦșİȓ țĮȚ ıijȡĮȖȚıșİȓ Įʌȩ IJȠ țĮIJȐıIJȘȝĮ ĮȖȠȡȐȢ ǼʌȓıȘȢ ʌȡȑʌİȚ ȞĮ ʌȡȠıțȠȝȚıșİȓ țĮȚ IJȠ IJȚȝȠȜȩȖȚȠ Ȓ Ș ĮʌȩįİȚȟȘ ȜȚĮȞȚțȒȢ ʌȫȜȘıȘȢ ʌȐȞȦ ıIJȘȞ ȠʌȠȓĮ Ƞ ıİȚȡȚĮțȩȢ ĮȡȚșȝȩȢ IJȠȣ ʌȡȠȧȩȞIJȠȢ ʌȡȑʌİȚ ȞĮ İȓȞĮȚ İȣțȡȚȞȒȢ Ǿ ȣʌȠȤȡȑȦıȘ IJȘȢ 6$0681* ĮijȠȡȐ ȝȩȞȠ IJȘȞ İʌȚıțİȣȒ IJȠȣ ʌȡȠȧȩȞIJȠȢ

Ǿ İʌȚıțİȣȒ IJȠȣ ʌȡȠȧȩȞIJȠȢ ʌȡȑʌİȚ ȞĮ ĮȞĮIJȓșİIJĮȚ ȝȩȞȠ ıİ İȟȠȣıȚȠįȠIJȘȝȑȞĮ țȑȞIJȡĮ VHUȞLFH Ȓ İȟȠȣıȚȠįȠIJȘȝȑȞȠȣȢ ĮȞIJȚʌȡȠıȫʌȠȣȢ IJȘȢ 6$0681* ȀĮȝȓĮ ĮʌȠȗȘȝȓȦıȘ įİȞ șĮ ȖȓȞİȚ ĮʌȠįİțIJȒ ȖȚĮ İʌȚıțİȣȒ ʌȠȣ ȑȤİȚ ȖȓȞİȚ Įʌȩ ȝȘ İȟȠȣıȚȠįȠIJȘȝȑȞȠ Įʌȩ IJȘȞ 6$0681* ıȣȞİȡȖİȓȠ ȉȠ ʌȡȠȧȩȞ ĮȣIJȩ įİȞ șĮ șİȦȡȘșİȓ İȜĮIJIJȦȝĮIJȚțȩ ıIJĮ ȣȜȚțȐ Ȓ ıIJȘȞ İȡȖĮıȓĮ İʌȚıțİȣȒȢ İȐȞ șĮ ʌȡȑʌİȚ ȞĮ ʌȡȠıĮȡȝȠıIJİȓ ȝİIJĮIJȡĮʌİȓ Ȓ ȡȣșȝȚıIJİȓ ȫıIJİ ȞĮ ıȣȝȝȠȡijȦșİȓ ȝİ IJȚȢ IJȠʌȚțȑȢ IJİȤȞȚțȑȢ ʌȡȠįȚĮȖȡĮijȑȢ Ȓ ʌȡȠįȚĮȖȡĮijȑȢ ʌȠȣ ȚıȤȪȠȣȞ ıİ ȤȫȡĮ ȐȜȜȘ Įʌȩ ĮȣIJȒ ȖȚĮ IJȘȞ ȠʌȠȓĮ ʌȡȠȠȡȚȗȩIJĮȞ Ȓ țĮIJĮıțİȣȐıIJȘțİ Ǿ İȖȖȪȘıȘ ĮȣIJȒ įİȞ țĮȜȪʌIJİȚ ĮʌȠȗȘȝȚȫıİȚȢ ȖȚĮ ȀİijĮȜȑȢ ȕȓȞIJİȠ țĮȚ țĮıİIJȠijȫȞȦȞ ȀİijĮȜȑȢ ȕȚȞIJİȠțȐȝİȡĮȢ īİȞȞȒIJȡȚİȢ ĮțIJȚȞȫȞ ODVHU ıIJĮ &' 'ȃ' ȉȘȜİȤİȚȡȚıIJȒȡȚĮ ȁȣȤȞȓİȢ ijȠȪȡȞȦȞ ȝȚțȡȠțȣȝȐIJȦȞ ȆȡȠıĮȡȝȠȖȑȢ ȝİIJĮIJȡȠʌȑȢ Ȓ ȡȣșȝȓıİȚȢ ĮȞİȟȐȡIJȘIJĮ ĮȞ İȓȞĮȚ İʌȚIJȣȤȒȢ Ȓ ĮȞİʌȚIJȣȤȒȢ ȠȪIJİ ȠʌȠȚĮįȒʌȠIJİ ȗȘȝȓĮ ʌȡȠȑȡȤİIJĮȚ İȟ ĮȣIJȠȪ

Ǿ İȖȖȪȘıȘ ĮȣIJȒ įİȞ țĮȜȪʌIJİȚ țĮȝȓĮ Įʌȩ IJȚȢ ʌĮȡĮțȐIJȦ ʌİȡȚʌIJȫıİȚȢ ȆİȡȚȠįȚțȠȪȢ İȜȑȖȤȠȣȢ ıȣȞIJȒȡȘıȘ țĮȚ İʌȚıțİȣȒ Ȓ ĮȞIJȚțĮIJȐıIJĮıȘ ȝİȡȫȞ ʌȠȣ ȠijİȓȜȠȞIJĮȚ ıİ ijȣıȚȠȜȠȖȚțȒ ijșȠȡȐ ȉĮ ȑȟȠįĮ țĮȚ IJȠȣȢ țȚȞįȪȞȠȣȢ ȝİIJĮijȠȡȐȢ ʌȠȣ ıȤİIJȓȗȠȞIJĮȚ ȝİ IJȘȞ İȖȖȪȘıȘ ĮȣIJȠȪ IJȠȣ ʌȡȠȧȩȞIJȠȢ ǽȘȝȓĮ ıİ ĮȣIJȩ IJȠ ʌȡȠȧȩȞ ʌȠȣ ʌȡȠȑȡȤİIJĮȚ Įʌȩ ǹ ȀĮIJȐȤȡȘıȘ Ȓ țĮȚ țĮțȒ ȤȡȒıȘ ıȣȝʌİȡȚȜĮȝȕĮȞȠȝȑȞȘȢ ĮȜȜȐ țĮȚ ȝȘ ʌİȡȚȠȡȚıȝȑȞȘȢ ıİ ȂȘ ȤȡȒıȘ ĮȣIJȠȪ IJȠȣ ʌȡȠȧȩȞIJȠȢ ȖȚĮ IJȠȣȢ ıțȠʌȠȪȢ ʌȠȣ ijȣıȚȠȜȠȖȚțȐ ʌȡȠȠȡȓȗİIJĮȚ Ȓ ıȪȝijȦȞĮ ȝİ IJȚȢ ȠįȘȖȓİȢ ȤȡȒıİȦȢ ȖȚĮ IJȘȞ ıȦıIJȒ ȤȡȒıȘ țĮȚ ıȣȞIJȒȡȘıȘ ĮȣIJȠȪ IJȠȣ ʌȡȠȧȩȞIJȠȢ ȉȘȞ İȖțĮIJȐıIJĮıȘ țĮȚ ȤȡȒıȘ IJȠȣ ʌȡȠȧȩȞIJȠȢ ȝİ IJȡȩʌȠȣȢ ʌȠȣ ĮȞIJȓțİȚȞIJĮȚ ıIJȚȢ IJİȤȞȚțȑȢ ʌȡȠįȚĮȖȡĮijȑȢ ĮıijĮȜİȓĮȢ ʌȠȣ ȚıȤȪȠȣȞ țĮIJȐ IJȘȞ ȤȡȒıȘ IJȠȣ ʌȡȠȧȩȞIJȠȢ Ǻ ǼʌȚıțİȣȒ ʌȠȣ ȑȖȚȞİ Įʌȩ ȝȘ İȟȠȣıȚȠįȠIJȘȝȑȞĮ ıȣȞİȡȖİȓĮ VHUYLFH ī ǹIJȣȤȒȝĮIJĮ șİȠȝȘȞȓİȢ Ȓ ȠʌȠȚĮįȒʌȠIJİ ĮȚIJȓĮ ʌȑȡĮ IJȠȣ İȜȑȖȤȠȣ IJȘȢ 6$0681* ıȣȝʌİȡȚȜĮȝȕĮȞȠȝȑȞȦȞ ĮȜȜȐ ȝȘ ʌİȡȚȠȡȚıȝȑȞȦȞ IJȦȞ țİȡĮȣȞȫȞ IJȠȣ ȞİȡȠȪ IJȘȢ ijȦIJȚȐȢ IJȦȞ įȘȝȠıȓȦȞ ĮȞĮIJĮȡĮȤȫȞ IJȠȣ țĮțȠȪ ĮİȡȚıȝȠȪ ț Ȝʌ ǻ Ǿ İȖȖȪȘıȘ ĮȣIJȒ įİȞ İʌȘȡİȐȗİȚ IJĮ įȚțĮȚȫȝĮIJĮ IJȠȣ țĮIJĮȞĮȜȦIJȒ ʌȠȣ ʌȡȠȕȜȑʌȠȞIJĮȚ Įʌȩ IJȘȞ İijĮȡȝȠıIJȑĮ İșȞȚțȒ ȞȠȝȠșİıȓĮ ʌȠȣ ȚıȤȪİȚ ȠȪIJİ IJĮ įȚțĮȚȫȝĮIJĮ IJȦȞ țĮIJĮȞĮȜȦIJȫȞ İȞĮȞIJȓȠȞ IJȦȞ ȜȚĮȞȠʌȦȜȘIJȫȞ ʌȠȣ ĮʌȠȡȡȑȠȣȞ Įʌȩ IJȘȞ ıȪȝȕĮıȘ ʌȫȜȘıȘȢ

Ǽ Ȉİ ʌİȡȓʌIJȦıȘ ʌȠȣ įİȞ ȣʌȐȡȤİȚ İșȞȚțȒ ȞȠȝȠșİıȓĮ ĮȣIJȒ Ș İȖȖȪȘıȘ șĮ İȓȞĮȚ Ș ȝȠȞĮįȚțȒ țĮȚ ĮʌȠțȜİȚıIJȚțȒ țȐȜȣȥȘ IJȠȣ țĮIJĮȞĮȜȦIJȒ ȖȚĮ țȐșİ ȗȘȝȚȐ )285/,6 75$'( ǹ Ǽ Ǻ Ǽ

DPOUBDU 4".46/( XPSME XJEF *G ZPV IBWF BOZ RVFTUJPOT PS DPNNFOUT SFMBUJOH UP 4BNTVOH QSPEVDUT QMFBTF DPOUBDU UIF 4".46/( DVTUPNFS DBSF DFOUSF 5HJLRQ 1RUWK $PHULFD

/DWLQ $PHULFD

(XURSH

&,6

$VLD 3DFL¿F

0LGGOH (DVW $IULFD

&RXQWU\ &$1$'$ 0(;,&2 8 6 $ $5*(17,1( %5$=,/ &+,/( 1,&$5$*8$ +21'85$6 &267$ 5,&$ (&8$'25 (/ 6$/9$'25 *8$7(0$/$ -$0$,&$ 3$1$0$ 38(572 5,&2 5(3 '20,1,&$ 75,1,'$' 72%$*2 9(1(=8(/$ &2/20%,$ %(/*,80 &=(&+ 5(38%/,& '(10$5. ),1/$1' )5$1&( *(50$1< +81*$5< ,7$/,$ /8;(0%85* 1(7+(5/$1'6 125:$< 32/$1' 32578*$/ 6/29$.,$ 63$,1 6:('(1 8 . (,5( $8675,$ 6:,7=(5/$1' 5866,$ .$=$+67$1 8=%(.,67$1 .<5*<=67$1 7$'-,.,67$1 8.5$,1( /,7+8$1,$ /$79,$ (6721,$ $8675$/,$ 1(: =($/$1' &+,1$ +21* .21* ,1',$ ,1'21(6,$ -$3$1 0$/$<6,$ 3+,/,33,1(6 6,1*$325( 7+$,/$1' 7$,:$1 9,(71$0 785.(< 6287+ $)5,&$ 8 $ (

&RQWDFW &HQWUH 6$0681*

6$0681*

6$0681*

6$0681*

6$0681*

'LVWULEXWRU SUR ýHVNRX UHSXEOLNX 6DPVXQJ =UW þHVND RUJDQL]DþQt VORåND 9\VNRþLORYD 3UDKD

6$0681* ¼ 0LQ ¼ 0LQ

6$0681* ¼ 0LQ

6$0681*

6$0681*

6$0681* ¼ 0LQ

6$0681*

6$0681*

6$0681*

6$0681*

6$0681*

6$0681*

6$0681*

6$0681*

6$0681*

6$0681*

:HE 6LWH ZZZ VDPVXQJ FRP FD ZZZ VDPVXQJ FRP ZZZ VDPVXQJ FRP ZZZ VDPVXQJ FRP DU ZZZ VDPVXQJ FRP ZZZ VDPVXQJ FRP FO ZZZ VDPVXQJ FRP ODWLQ ZZZ VDPVXQJ FRP ODWLQ ZZZ VDPVXQJ FRP ODWLQ ZZZ VDPVXQJ FRP ODWLQ ZZZ VDPVXQJ FRP ODWLQ ZZZ VDPVXQJ FRP ODWLQ ZZZ VDPVXQJ FRP ODWLQ ZZZ VDPVXQJ FRP ODWLQ ZZZ VDPVXQJ FRP ODWLQ ZZZ VDPVXQJ FRP ODWLQ ZZZ VDPVXQJ FRP FR ZZZ VDPVXQJ FRP EH ZZZ VDPVXQJ FRP F] ZZZ VDPVXQJ FRP GN ZZZ VDPVXQJ FRP ¿ ZZZ VDPVXQJ FRP ZZZ VDPVXQJ FRP ZZZ VDPVXQJ FRP ZZZ VDPVXQJ FRP ZZZ VDPVXQJ FRP EH ZZZ VDPVXQJ FRP QO ZZZ VDPVXQJ FRP QR ZZZ VDPVXQJ FRP SO ZZZ VDPVXQJ FRP SW ZZZ VDPVXQJ FRP VN ZZZ VDPVXQJ FRP ZZZ VDPVXQJ FRP VH ZZZ VDPVXQJ FRP ZZZ VDPVXQJ FRP LH ZZZ VDPVXQJ FRP DW ZZZ VDPVXQJ FRP FK ZZZ VDPVXQJ FRP ZZZ VDPVXQJ N] ZZZ VDPVXQJ X] ZZZ VDPVXQJ FRP ZZZ VDPVXQJ OW ZZZ VDPVXQJ FRP OY ZZZ VDPVXQJ HH ZZZ VDPVXQJ FRP ZZZ VDPVXQJ FRP Q] ZZZ VDPVXQJ FRP ZZZ VDPVXQJ FRP KN ZZZ VDPVXQJ FRP ZZZ VDPVXQJ FRP ZZZ VDPVXQJ FRP MS ZZZ VDPVXQJ FRP P\ ZZZ VDPVXQJ FRP SK ZZZ VDPVXQJ FRP ZZZ VDPVXQJ FRP ZZZ VDPVXQJ FRP WZ ZZZ VDPVXQJ FRP ZZZ VDPVXQJ FRP ZZZ VDPVXQJ FRP ZZZ VDPVXQJ FRP

3P)4 DPNQMJBOU 0VS QSPEVDU DPNQMJFT XJUI i5IF 3FTUSJDUJPO 0G UIF VTF PG DFSUBJO )B[BSEPVT 4VCTUBODFT JO FMFDUSJDBM BOE FMFDUSPOJD FRVJQNFOUw BOE XF EP OPU VTF UIF IB[BSEPVT NBUFSJBMT $BENJVN $E -FBE 1C

.FSDVSZ )H )FYBWBMFOU $ISPNJVN $S

1PMZ #SPNJOBUFE #JQIFOZMT 1##T 1PMZ #SPNJOBUFE %JQIFOZM &UIFST 1#%&T JO PVS QSPEVDUT