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4UFMMFO 4JF TJDI FJONBM EFO JEFB MFO ;VDIUPSU WPS 8P XÊSF EJFTFS VOE XJF LBOO NBO &OUEFDLVOH WFSNFJEFO %VSDI FSTDIXFSUFT "VGUSFUFO EFS /JFEFSMÊOEJTDIFO 1PMJ[FJ VOE +VTUJ[ XFSEFO ;àDIUFS JNNFS JOOPWBUJWFS *ISF .ÚHMJDILFJUFO FSTDIFJOFO EBOO BVDI FOEMPT *O EJFTFS 4FSJF àCFS 5SBVNPSUF XJSE CFTDISJFCFO XJF TPMDIF JEFBMFO 0SUF BVTTFIFO LÚO OFO XBT 7PS VOE /BDIUFJMF TJOE VOE XJF TJF HFTUBMUFU XFSEFO 7PO (VFSJMMB %BBO
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%BT (VFSJMMBEBDI %JF FSTUF -PDBUJPO XP +1 [àDIUFU JTU EBT %BDI FJOFT [JFNMJDI IPIFO )PDIIBVTFT JO FJOFN 7JFSUFM BV FSIBMC EFS 4UBEU &T JTU FJO ÊMUFSFT )PDIIBVT NJU XFOJH 6OUFSIBMUTBSCFJUFO %BT )PDIIBVT BVT LMFJOFO .JFUXPIOVOHFO CFXPIOU WPO KVOHFO 4JOHMFT VOE 1ÊSDIFO %BT )PDIIBVT JTU EBT HSÚ UF (FCÊVEF EFS 6NHFCVOH &JO 'SFVOE WPO +1 XPIOU JO EJFTFN )PDIIBVT VOE XFJ EBSVN EBTT EBT %BDI FJONBM JN +BIS JOTQFLUJFSU XJSE %JFT HFTDIJFIU JNNFS LVS[ WPSN 8JOUFS "V FSEFN XJTTFO +1 VOE TFJO ,VNQFM XBOO EJF *OTQFLUJPO XBS EB TJF FJOFO 4FOEFS BO EFS 5àS CFGFTUJHU IBCFO 6N TFMCTU BVG EBT %BDI HFMBOHFO [V LÚO OFO IBCFO TJF FJO -àGUVOHTHJUUFS BO EFS ;VHBOHTUàS TP BOHFQBTTU EBTT TJF EJFTFT (JUUFS VNLMBQQFO LÚOOFO VOE TP HBO[ FJOGBDI OBDI ESBV FO HFMBOHFO 'àS +1 JTU EJFT EFS JEFBMFw6SCBO (VFSJMMB TQPUw XFOJH 6OUFSIBMU CFEFVUFU OÊNMJDI XFOJH "VGTJDIU VOE TPNJU LFJOF #FTVDIFS BVG EFN %BDI 7PO TFJOFN 'SFVOE XFJ 'PSUTFU[VOH BVG TFJUF
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+1 BVDI EBTT LFJOF (FCÊVEFSFJOJHFS BVGT %BDI LPNNFO JO EJFTFN .JFUTIBVT NVTT KFEFS TFMCTU TFJOF 'FOTUFS QVU [FO %B WJFMF 4JOHMFT VOE 1ÊSDIFO JO EJFTFN .JFUTIBVT XPIOFO TJOE JO EFS 8PDIF OJDIU WJFMF .FOTDIFO [VIBVTF EJFTF TJOE EBOO NFJTUFOT BN BSCFJUFO )JFSEVSDI LÚOOFO +1 VOE TFJO ,VNQFM UBHTàCFS SVIJH BVGT %BDI HFIFO PIOF JN 5SFQQFOIBVT BVG[VGBMMFO 8JF CFSFJUT CFTDISJFCFO [àDIUFU +1 IJFS BVG EFN %BDI JN UPUFO 8JOLFM %JF XJDI UJHTUF 3FHFM GàS +1 JTU EJF GPMHFOEF 7PO BMMFO 4UFMMFO BVT EJF WPN %BDI BVT TJDIU CBS TJOE LBOO NBO NFJOF 1GMBO[FO TFIFO +1 JTU BMTP BVG EFN %BDI IFSVNHFMBVGFO VOE IBU CFTPOEFST EBSBVG HFBDIUFU WPO XP BVT OJFNBOE JIO WPN #PEFO PEFS WPO FJOFN BOEFSFO (FCÊVEF TFIFO LBOO 4QF[JFMM GàS EJF 4BUJWB T EJF TFIS HSP XFS EFO LÚOOFO IBU FS IJFSGàS FJOF 5SFQQF HFCBVU VN [V WFSNFJEFO EBTT /BDICBSO JN )PDITPNNFS EJF 4QJU[FO àCFS EFN )PDIIBVT TFIFO 6N EFO 1GMBO[FO JN 4PNNFS HFOàHFOE 8BTTFS VOE %àOHFS HFCFO [V LÚOOFO IBU +1 OBDI EFS BMMKÊIS MJDIFO ,POUSPMMF TPGPSU FJOF 3FHFOUPOOF BVG EBT %BDI HFTUFMMU %JFTF GàMMU TJDI NJU 3FHFOXBTTFS WPO FJOFN IÚIFS HFMFHF OFO %BDI *TU EJFTFT 8BTTFS WFSCSBVDIU CFOVU[U +1 EFO 8BTTFSTDIMBVDI BVT EFN 5SFQQFOIBVT VN EJF 5POOF [V GàMMFO %JF 1GMBO[FO TUFIFO JO HSP FO SVOEFO ;FNFOUXBOOFO )JFSWPO XJSE EFS VOUFSF 5FJM NJU FJOFS -BHF -FIN HFGàMMU EJF TFS IÊMU EJF 'FVDIUJHLFJU GFTU VOE EBSBVG LPNNU WPSHFEàOHUF &SEF 6OUFO JO EJF ;FNFOUXBOOFO XVSEF -ÚDIFS HFCPISU TP EBTT àCFSTDIàTTJHFT 3FHFOXBTTFS BCMBVGFO LBOO "VG EJFTF 8FJTF TPSHU +1 EBGàS EBTT TFJOF 1GMBO[FO OJDIU [V WJFM PEFS [V XFOJH 'FVDIUJHLFJU FSIBMUFO &JO HSP FS /BDIUFJM EFS ;VDIU BVG EFN %BDI JTU EBTT FT NBODINBM HBO[ TDIÚO XJOEJH XFSEFO LBOO +1 CJOEFU TFJOF 1GMBO[FO EBOO BVDI PGUNBMT GFTU XFOO EJFTF [V HSP XFSEFO )JFSEVSDI XFIFO EJFTF OJDIU VN 8FOO FT TFIS XJOEJH XBS NVTT FS OBDI TFJOFO 1GMBO[FO TFIFO VOE FWFO UVFMM BCHFLOJDLUF ;XFJHF BCTUàU[FO
%JF -VGUCFIBOEMVOHTBOMBHF 6N OJDIU OVS WPN (VFSJMMBEBDI BCIÊO HJH [V TFJO CFTDIMPTT +1 BVDI *OEPPS [V [àDIUFO /VO LBOO FS EBT HBO[F +BIS àCFS 1GMBO[FO FSOUFO %JFT LÚOOUF FS
6OTFSF %ÊDIFS TUFIFO WPMM NJU "QQBSBUFO VOE *OTUBMMBUJPOFO "VG EJFTFN 'PUP TJFIU NBO V B FJOFO -VGUCFIBOEMVOHTHFSÊU
BO TFJOFN "SCFJUTQMBU[ UVO EB IFU FS TDIMJF MJDI HFOVH 1MBU[ %B KFEPDI BVG EFN TFMCFO *OEVTUSJFHFCJFU TDIPO ÚGUFS )BOG[àDIUVOHFO FOUEFDLU XVSEFO IBU FS "OHTU BVDI HFQBDLU [V XFSEFO 6N EFO "SCFJUTQMBU[ OJDIU BMT ;VDIUSBVN [V HFCSBVDIFO IBU FS EBSVN FJOF HSP F -VGUCFIBOEMVOHTBOMBHF BVG TFJO %BDI HFTUFMMU 4PMDIF "OMBHFO TUFIFO PGU BVG HSP FO (FCÊVEFO VOE XFSEFO HFCSBVDIU VN -VGU JN -àGUVOHTTZTUFN [V GJMUFSO [V FSXÊSNFO [V LàIMFO VOE [V FSOFVFSO &T JTU GàS "V FOTUFIFOEF EBOO BVDI OJDIU VOHFXÚIOMJDI EBTT FS GàS TFJOFO TUBVCJ HFO "SCFJUTQMBU[ FJOF TPMDIF *OTUBMMBUJPO BOHFTDIBGGU IBU 8BT KFEPDI OJFNBOE XFJ JTU EBTT EJFTF "OMBHF WPO JOOFO MFFS JTU VOE EBTT EJF FJO[JHF #FIBOEMVOH EJF EJF -VGU CFLPNNU 'JMUFSVOH EVSDI FJOFO HSP FO ,PIMFOTUPGGGJMUFS JTU %JFTF "OMBHF IBU FS LPTUFOMPT BVT FJOFN "CCSVDIHFCÊVEF àCFSOFINFO LÚOOFO VN FT TDIMJF MJDI WPO JOOFO [V MFFSFO /VO IBU FS FJOF HSP F "OMBHF WPO Y N BMTP VOHFGÊIS 2VBESBUNFUFSO BVG TFJOFN %BDI TUFIFO )JFSJO IBU FS 1MBU[ GàS NJOEFTUFOT 1GMBO[FO VOE IBU BVDI OPDI HFOVH 1MBU[ VN [XJTDIFO EFO 1GMBO[FO [V MBVGFO VOE BMM TFJOF ;VDIUVUFOTJMJFO [V WFSTUBVFO 8JF JO EFS "CCJMEVOH [V TFIFO JTU XJSE -VGU BVT EFN "SCFJUTSBVN JO EFO ;VDIUSBVN HFCMBTFO 7PSUFJM IJFSWPO JTU EBTT EJFTF -VGU JNNFS TP [JFNMJDI EJF TFMCF 5FNQFSBUVS IBU EB EJFTF JN 8JOUFS FSXÊSNU VOE JN 4PNNFS HFLàIMU XJSE %JF HFCSBVDIUF -VGU XJSE HFGJMUFSU VOE àCFS FJO -àGUVOHTHJUUFS BO EFS 4FJUF EFS "OMBHF OBDI ESBV FO HFMFJ UFU %B -VGUCFIBOEMVOHTBOMBHFO BVDI HFCSBVDIU XFSEFO VN -VGU [V FSXÊSNFO IBU +1 LFJOF "OHTU WPS 8ÊSNFEFUFLUPSFO EFS 1PMJ[FJ 5SPU[EFN IBU FS TJDI FOU TDIMPTTFO EJF *OOFOTFJUF EFS "OMBHF NJU "OUJ %FUFLUPS 'PMJF [V CFLMFCFO
%BT -VGUCFIBOEMVOHTHFSÊU BVG EFN %BDI EFT "SCFJUTQMBU[FT WPO BV FO JTU OJDIUT BVGGBMMFOEFT [V TFIFO
)JFSEVSDI JTU FT XFOJHFS HVU FSTJDIUMJDI EBTT EJF 8ÊSNF WPO -BNQFO TUBNNU 6N TFJOFO 1GMBO[FO 8BTTFS HFCFO [V LÚOOFO IBU +1 EJF 8BTTFSMFJUVOH CJT JO EJF -VGUCFIBOEMVOHTBOMBHF WFSMFHFO MBT TFO )JFSCFJ XBS FT JIN FHBM PC EJFTF -FJUVOH WPN %BDI BVT [V TFIFO XBS -VGUCFIBOEMVOHTBOMBHFO HFCSBVDIFO OÊNMJDI BVDI 8BTTFS 6N JO TFJO 7FSTUFDL [V HFMBOHFO CSBVDIU +1 OJDIU KFEFT .BM BVGT %BDI [V TUFJHFO )JFSGàS IBU FS FJOF -VLF JOT %BDI HFNBDIU TP EBTT FS EVSDI EJF %FDLF JO EFO %BDICPEFO TFJOFT #àSPT VOE TP EJSFLU JO EFO ;VDIUSBVN HFMBOHU "VG EJFTF 8FJTF GÊMMU FT BVDI XFOJHFS BVG TFJO ;VDIUVUFOTJMJFO IJO FJO [V USBHFO 8FOO TFJOF .JUBSCFJUFS OBDI )BVTF HFHBOHFO TJOE LBOO FS TFJOFO -JFGFSXBHFO IJOFJOGBISFO VOE JO BMMFS 3VIF BMMFT BVTMBEFO VOE JO EJF #FIBOEMVOHTBOMBHF CSJOHFO
%JF %BDIUFSSBTTF +1 XPIOU TFMCTU JO FJOFS &JHFOUVNTXPIOVOH JN 0CFSHFTDIPTT FJOFT "QQBSUFNFOUFODPNQMFYFT NJUUFO JO EFS 4UBEU (JCU FT NFI SFSF &JHFOUVNTXPIOVOHFO JO FJOFN (FCÊVEF TP XJF JO FJOFN "QQBSUFNFOUFODPNQMFY PEFS JO FJOFN )PDIIBVT XFSEFO EJFTF NFJT UFOT WFSXBMUFU WPO EFS 7FSFOJHJOH 7BO &JHFOBSFO 77& %JFT JTU XJF EFS /BNF TDIPO TBHU FJOF 7FSFJOJHVOH BMMFS
&JHFOUàNFS +FEFS #FXPIOFS CF[BIMU EBOO SFHFMNÊ JH FJOFO #FJUSBH BO EJFTF 7FSFJOJHVOH )JFSWPO XFSEFO EBOO EFS 6OUFSIBMU EFT (FCÊVEFT VOE EJF ,PTUFO EFS (FNFJOTDIBGUTSÊVNF CF[BIMU +1 JTU BVDI .JUHMJFE EFS 77& TFJOFT "QQBSUFNFOUFODPNQMFYFT %B FS EBT ;àDIUFO TP UPMM GJOEFU NÚDIUF FS BVDI FJO QBBS 1GMBO[FO [VIBVTF IBCFO "CFS +1 IBU JO TFJOFS 8PIOVOH VOE BVG TFJ OFN #BMLPO OJDIU HFOVH 1MBU[ VN EJFTF EPSU [V QMBU[JFSFO &S IBU BMTP CFTDIMPT TFO EJFTF 1GMBO[FO BVG EBT %BDI EFT "QQBSUFNFOUFODPNQMFYFT [V TUFMMFO EJFTFT XJSE BOTPOTUFO OJDIU CFOVU[U 8FJM +1 .JUHMJFE EFT 77& JTU XFJ FS HFOBV XBOO EJF 6OUFSIBMUTGJSNB [V #FTVDI LPNNU *N 1SJO[JQ IBU FS BMTP EBT HBO[F %BDI GàS TJDI BMMFJOF &T JTU KFEPDI FJO HSP FT 1SPCMFN EBTT JO EFS 4UBEU SFHFMNÊ JH )VCTDISBVCFS WPO V B EFS 1PMJ[FJ WPSCFJGMJFHFO +1 XFJ BMTP EBTT EJF 1GMBO[FO BVG TFJOFN %BDI OJDIU [V BVGGÊMMJH TFJO NàTTFO %BSVN IBU +1 BVG TFJOFN %BDI FJOF %BDIUFSSBTTF BOHF MFHU %JFTF TJOE HFOBV XJF %BDIHÊSUFO TFIS QPQVMÊS JO EJDIU CFXPIOUFO (FCJFUFO "O TFJOFN "SCFJUTQMBU[ IBU +1 FJOFO )PM[[BVO BVGHFTUFMMU TP EBTT TFJOF %BDIUFSSBTTF BCHFTDIJSNU JTU "OTDIMJF FOE IBU FS EBT %BDI HFGMJFTU TP EBTT %BDICFEFDLVOH PEFS #JUVNFO OJDIU CFTDIÊEJHU XFSEFO "VG EFS %BDIUFSSBTTF TUFIFO FJOJHF WJFSFDLJHF
*O CMBV EFS UPUF 8JOLFM *OOFSIBMC EJFTFT 8JOLFMT LBOO OJFNBOE EJF 1GMBO[FO TUFIFO TFIFO
)PM[CPUUJDIF JO EFOFO 1GMBO[FO TUFIFO LÚOOFO "VDI IBU +1 FJO TDIÚOFT -PVOHF 4FU BVG EBT %BDI HFTUFMMU "VG EJFTF 8FJTF NBDIU EJF %BDIUFSSBTTF EFO &JOESVDL EBTT FT TJDI IJFS VN FJOF HFXÚIOMJ DIF %BDIUFSSBTTF IBOEFMU VOE FSXFDLU LFJO .JTTUSBVFO CFJ EFO )VCTDISBVCFSO 4UFMMU +1 FJOGBDI OVS FJOJHF #PUUJDIF NJU 1GMBO[FO IJO TÊIF FT WPO PCFO BVT XJF FJO (VFSJMMBEBDI VOE XÊSF GàS EJF 1PMJ[FJ TFIS BVGGÊMMJH %B TFJOF /BDICBSO OJDIUT WPO TFJOFS %BDIUFSSBTTF XJTTFO IBU +1 JO TFJOFS FJHFOFO 8PIOVOH FJOF VOBVGGBM MFOEF %BDIMVLF NBDIFO MBTTFO 4P XJSE OJFNBOE JIO BVGT %BDI HFIFO TFIFO 7FSTDIMPTTFO TJFIU EJF %BDIMVLF BVT XJF FJOF OPSNBMF -JDIULVQQFM HVU HFÚGGOFU KFEPDI JTU EJFT FJO ;VHBOH BVGT %BDI "VT FJOFN 'BDI JO EFS .BVFS LBOO +1 FJOF 4USJDLMFJUFS IÊOHFO VOE NVTT TP OJDIU NJU FJOFS -FJUFS EVSDI EBT )BVT MBV GFO &JO HSP FS 7PSUFJM EJFTFT HFIFJNFO ;VHBOHT JTU EBTT TFJOF /BDICBSO JIO CFTVDIFO LÚOOFO PIOF JSHFOEXBT WPO FJOFN ;VHBOH [VN %BDI [V WFSNVUFO
"MUFSOBUJWF [VS %BDIUFSSBTTF EFS %BDIHBSUFO "OTUFMMF FJOFS %BDIUFSSBTTF IÊUUF +1 BVDI FJOFO %BDIHBSUFO BOMFHFO LÚO OFO &JOF &STDIFJOVOH EJF HFHFOXÊS UJH JNNFS ÚGUFS BVG %ÊDIFSO BOHFXFO EFU XJSE %BT 1SJO[JQ JTU EBT TFMCF XJF CFJ FJOFS %BDIUFSSBTTF NJU EFN HSP
&JO 2VFSTDIOJUU EFT (VFSJMMB o %BDIT BVDI IJFS QSPGJUJFSU NBO WPN UPUFO 8JOLFM
"VT EFS -VGU FSTDIFJOU EJFT XJF FJOF HBO[ HFXÚIOMJDIF %BDIUFSSBTTF
4JFIU NBO KFEPDI HFOBVFS IJO TJFIU NBO EBTT IJFS BMMFT WPMM NJU TDIÚOFO HSP FO )BOGQGMBO[FO TUFIU
"VG EFO FSTUFO #MJDL TDIFJOU EJFT FJOF HFXÚIOMJDIF -JDIULVQQFM [V TFJO
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*/5&37*&8
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IBGUFO )FSTUFMMFS TJOE WFSUSFUFO VOE XFOO EFOOPDI NBM JSHFOEFUXBT OJDIU WPS 0SU FSIÊMUMJDI TFJO TPMMUF TP XJSE BVDI HFSOF GàS EFO FJO[FMOFO ,VOEFO CFTUFMMU VOE FS FSIÊMU TFJO 8VOTDIQSPEVLU OBDI XFOJHFO 5BHFO 8FS [VEFN OPDI 8FSU BVG FJOF HVUF #FSBUVOH MFHU JTU IJFS HFOBV SJDIUJH (FTDIÊGUTJOIBCFS 'SBOL JTU UÊHMJDI WPS 0SU VOE BVDI HFSOF CFSFJU NJU LPNQFUFOUFN GBDINÊOOJTDIFN 3BU EFN ,VOEFO [V IFM GFO VOE JIO CFJ TFJOFS "VTXBIM [V CFSBUFO o JN 4UJDI HFMBTTFO XJSE NBO IJFS OJDIU %JF 1SPEVLUQBMFUUF SFJDIU WPO #FMFVDIUVOHT VOE #FMàGUVOHTTZTUFNFO àCFS .FTTHFSÊUF %àOHFS [VS 1GMBO[FOBVG[VDIU 4VCTUSBUF 1GMBO[FOTDIVU[ VOE 4DIÊEMJOHTCFLÊNQGVOH CJT [V )PNFCPYFO TPXJF 3FHFM VOE 4UFVFSVOHTUFDIOJL ;VEFN XFSEFO FJOFN ,PNQMFUUTFUT BOHF CPUFO NJU EFOFO KFEFS )PCCZHÊSUOFS TPGPSU
MPTMFHFO LBOO NJU EFS FJHFOFO ;àDIUVOH 4QF[JBMJTJFSU BVG EFO (SPX #FSFJDI FOUTUBOE (308 #0// EB FT CJT EBUP LFJOFO LPN QFUFOUFO )BOEFM GàS EJFTF "SU ;àDIUVOH HBC JO EJFTFS 3FHJPO 6N EJFTF ,MVGU [XJ TDIFO "OHFCPU VOE /BDIGSBHF [V TDIMJF FO VOE TPNJU KFEFN EJF .ÚHMJDILFJU [V HFCFO TFJOFN )PCCZ OBDI[VHFIFO FSÚGG OFUF (FTDIÊGUTJOIBCFS 'SBOL #BVFSGFJOE TDIMJF MJDI TFMCTU FJO 6OUFSOFINFO .JU TFJOFS KBISFMBOHFO &SGBISVOH JO EJFTFN #FSFJDI XBS FS XPIM BVDI EFS QFSGFLUF .BOO GàS FJOFO 4IPQ EJFTFS ,BUFHPSJF (FSBEF EJF 4QF[JBMJTJFSVOH VOE QFSTÚO MJDIF &SGBISVOH JTU FT EJF (308 #0// GàS EFO (SP SBVN #POO [VN GàISFOEFO )ÊOEMFS BVG EJFTFN (FCJFU XFSEFO MJF .PNFOUBO XJSE FJGSJH BO EFS 6NTFU[VOH EFT 8FC 4IPQT HFBSCFJUFU VN BVDI EJF ,VOEFO BV FSIBMC EFS 3FHJPO BEÊ RVBU NJU (ÊSUOFSVUFOTJMJFO WFSTPSHFO [V LÚOOFO 4QÊUFTUFOT CJT &OEF EFT +BISFT TPMM EJFTFS GFSUJH HFTUFMMU TFJO VOE EFO ,VOEFO NJU BVTSFJDIFOE *OGPSNBUJPOFO [V EFO FJO[FMOFO 1SPEVLUFO WFSTPSHFO o FJOFO ÃCFSCMJDL àCFS EBT "OHFCPU LBOO
NBO TJDI VOUFS XXX HSPX CPOO EF BCFS CFSFJUT WFSTDIBGGFO %PDI LFJOF #BOHF FJOF UFMFGPOJTDIF #FTUFMMVOH JTU TFMCTUWFS TUÊOEMJDI KFEFS[FJU NÚHMJDI VOE àCFS EBT 0OMJOF ,POUBLUGPSNVMBS BVG EFS 8FCTFJUF C[X EJSFLU àCFS JOGP!HSPX CPOO EF GJO EFO BVDI & .BJM "OGSBHFO EFO SJDIUJHFO &NQGÊOHFS 8FS TJDI BCFS TFMCTU FJONBM FJO #JME WPO EJFTFN 4IPQ WFSTDIBGGFO NÚDIUF PEFS QFSTÚOMJDIF #FSBUVOH TVDIU
(308 #0// 'SBO[TUSB F "MUTUBEU
#POO 5FM 'BY XXX HSPX CPOO EF JOGP!HSPX CPOO EF ½GGOVOHT[FJUFO .POUBH CJT 'SFJUBH o 6IS 4BNTUBH o 6IS
*OESB T 1MBOFU (NC) JO 8JFO %FS TZNQBUIJTDIF )FBE VOE (SPXTIPQ JN 8JFOFS #F[JSL LBOO NJU TFJOFN 4PSUJNFOU EJF 8àOTDIF KFEFT 3BVDIFST VOE (ÊSUOFST FSGàM MFO (FHSàOEFU JN +BIS HFIU EFS 'BNJMJFOCFUSJFC TUFUT NJU EFS ;FJU VOE MFHU OJDIU OVS 8FSU BVG EJF 2VBMJUÊU EFS 1SPEVLUF TPOEFSO FCFOTP BVG FJOF GBJSF VOE BEÊRVBUF ,VOEFOCFSBUVOH XJF BVDI BVG %BUFOTDIVU[ XBT EFN #FUSFJCFS HBO[ CFTPOEFST BN )FS[FO MJFHU .JU FJOFS -BHFS VOE 7FSLBVGTGMÊDIF WPO DB N LBOO TJDI KFEFS BVTHJFCJH JN (SBGGJUJ CFNBMUFO "VTTUFMMVOHTSBVN àCFS /FVQSPEVLUF JOGPSNJFSFO VOE TJDI BEÊ RVBU CFSBUFO MBTTFO PEFS FJOGBDI OVS FJO XFOJH TUÚCFSO %JF .JUBSCFJUFS WPO EFOFO
TUFUT BOXFTFOE TJOE OFINFO TJDI HFSOF EJF ;FJU VN 'SBHFO [V CFBOUXPSUFO VOE )JMGFTUFMMVOH [V HFCFO o GSFVOEMJDIF VOE GBDILPNQFUFOUF #FSBUVOH XJSE CFJ EFS *OESB T 1MBOFU (NC) HSP HFTDISJF CFO BVDI OBDI EFN &JOLBVG IÚSU EJFTF )JMGFTUFMMVOH OJDIU BVG *N 4PSUJNFOU CFGJOEFO TJDI TPXPIM 1GFJGFO 4IJTIBT VOE #POHT FJOGBDI BMMFT XBT FJO 3BVDIFS TP CFOÚUJHU XJF BVDI %àOHFS -àGUVOHT VOE #FXÊTTFSVOHTUFDIOJL (SPXTDISÊOLF FUD GàS BMMF (ÊSUOFS #FTPOEFSFT 1SVOLTUàDL EFT #FUSFJCFST JTU KFEPDI EBT àQQJHF "OHFCPU BO GFNJOJTJFSUFO 4BNFO XFM DIFT TUFUJH BVTHFXFJUFU XJSE )JFS [ÊI MFO WPS BMMFN EJF 3PZBM 2VFFO VOE EJF %JOBGFN 4FFET [V EFO HBO[ CFTPO EFSFO 7FSLBVGTTDIMBHFSO *O EJFTFN (FTDIÊGUTCFSFJDI JTU NBO [VEFN BMT (SP IÊOEMFS UÊUJH VOE WFSUSFJCU 2VBMJUÊU FVSPQBXFJU WPS BMMFN OBDI 5TDIFDIJFO 1PMFO 4MPXFOJFO VOE OBUàSMJDI ½TUFSSFJDI "V FSEFN TJOE (BEP (BEP +BDLFO FYLMV TJW CFJ *OESB T 1MBOFU FSIÊMUMJDI VOE FT HJCU JNNFS "LUJPOTBOHFCPUF VOE o4FUT
/JDIU OVS JO 8JFO LBOO NBO TJDI FJO #JME EFT HFTBNUFO 4PSUJNFOUT NBDIFO XJF FT TJDI GàS EBT IFVUJHF ;FJUBMUFS HFIÚSU JTU EJF *OESB T 1MBOFU (NC) BVDI JN *OUFSOFU WFSUSFUFO XXX JOESBT QMBOFU BU VOE WFSUSFJCU EJF 1SPEVLUF FVSPQBXFJU WJB 0OMJOFTIPQ %JF 8FCTFJUF XJSE TUFUT BVG EFN BLUV FMMFO 4UBOE HFIBMUFO VOE WFSCFTTFSU XBT FJOF 0OMJOFCFTUFMMVOH CFTPOEFST FJOGBDI NBDIU GàS BMMF ,VOEFO +FEF #FTUFMMVOH XJSE TPGPSU CFBSCFJUFU VOE OPDI BN 5BH EFT ;BIMVOHTFJOHBOHT WFSTDIJDLU E I ,VOEFO BVT ½TUFSSFJDI LÚOOFO CFSFJUT BN 'PMHFUBH NJU JISFS #FTUFMMVOH SFDIOFO 4FMCTUWFSTUÊOEMJDI XJSE CFJN 7FSTBOE BVG FJOF TBVCF SF VOE TJDIFSF 7FSQBDLVOH XFSUHF MFHU CFJ EFS BVDI EJF "SU EFT *OIBMUT OJDIU FSLFOOUMJDI JTU EB BVG FJOF )BOGCMBUU ,FOO[FJDIOVOH WFS[JDI UFU XJSE 8JDIUJHFS KFEPDI JTU EJF "SU VOE 8FJTF XJF NJU EFO ,VOEFOEBUFO VNHFHBOHFO XJSE EFOO EFS #FUSFJCFS MFHU CFTPOEFSFO 8FSU BVG %BUFOTDIVU[ VOE TPNJU ,VOEFOTJDIFSIFJU +FHMJDIF ,VOEFOEBUFO XFSEFO OBDI XFOJHFO 5BHFO BVT EFN 4ZTUFN HFMÚTDIU %JFTFS CFJTQJFMIBGUF 6NHBOH NJU QFSTÚOMJDIFO %BUFO JTU BVDI (SVOE EBGàS EBTT FT CFJ *OESB T 1MBOFU LFJOFO /FXTMFUUFS HJCU %BT NJUUFMHSP F 6OUFSOFINFO XFMDIFT TJDI JO ½TUFSSFJDI CFSFJUT FJOFO /BNFO
*OESBT 1MBOFU (NC) 4JNNFSJOHFS )BVQUTUSB F " 8JFO ½TUFSSFJDI ½GGOVOHT[FJUFO .P 'S 6IS 4B 6IS HFNBDIU IBU WFSTVDIU TJDI TUFUJH BVG EFN TDIOFMM WFSÊOEFSOEFO .BSLU XFJUFS [VFOUXJDLFMO VN EFN ,POLVSSFO[ESVDL TUBOE[VIBMUFO "VT EJFTFN (SVOE JTU EJF *OESB T 1MBOFU (NC) BVDI BVG .FTTFO WPS BMMFN JO ½TUFSSFJDI VOE EFS 4DIXFJ[ WFSUSFUFO "VDI EFS TP[JBMF #FSFJDI XJSE IJFS OPDI FSOTU HFOPN NFO 4P[JBMF 1SPKFLUF XFSEFO HFTQPO TFSU .FOTDIFO HFIPMGFO VOE "LUJPOFO HFTUBSUFU TP VOUFSTUàU[U NBO VOUFS BOEFSFN FJOF #MJOEFOXFSLTUBUU VOE GàISU -FHBMJTJFSVOHTLBNQBHOFO EVSDI 8FS TJDI HFSOF FJONBM TFMCTU FJO #JME NBDIFO NÚDIUF LBOO EJFT FOUXFEFS WJB *OUFSOFU PEFS EJSFLU WPS 0SU UVO *OESBT 1MBOFU (NC) 4JNNFSJOHFS )BVQUTUSB F " 8JFO ½GGOVOHT[FJUFO .P 'S 6IS 4B 6IS .JU CFTUFS -BHF JN #F[JSL EFS ÚTUFSSFJDIJTDIFO )BVQUTUBEU /ÊIF EFT ;FOUSBMGSJFEIPGT NJU "VUPCBIO VOE 6 #BIO 6 WPS EFS )BVTUàS JTU EBT 7FSLBVGTHFTDIÊGU GàS KFEFSNBOO TFIS HVU [V FSSFJDIFO o FJO #FTVDI MPIOU TJDI
%F 5VJOTQFDJBMJTU )PSO /- *N -BVGF EFS GàOG[FIO +BISF TFJOFT #FTUFIFOT IBU EFS 5VJOTQFDJBMJTU JO 8FFSU CFJ *OEPPS (ÊSUOFSO JO *O VOE "VTMBOE FJOFO BVTHF[FJDIOFUFO 3VG BVGHFCBVU /BDI EFN &SGPMH EFS 'JMJBMF JO 8FFSU XVSEF FT ;FJU GàS FJOF [XFJUF 'JMJBMF EJFTNBM BN 3BOEF EFS .JUUFM -JNCVSHFS 8ÊMEFS %BT GSJTDIF 'JSNFOHFCÊVEF CFGJOEFU TJDI JO MÊOEMJDIFS -BHF BN 3BOEF )PSOT FJOFN HFNàUMJDIFO %PSG JO EFS /ÊIF WPO 3PFSNPOE .JU EFS OFVFO 'JMJBMF FSGàMMU NBO EJF 8àOTDIF WJFMFS ,VOEFO EJF -PDBUJPO EJSFLU BN 8BMESBOE HBSBOUJFSU 1SJWBDZ XFMDIF GàS WJFMF -JFCIBCFS EJFTFT )PCCZT JNNFS XJDIUJHFS XJSE 8FS EJFT XàOTDIU LBOO o OPDI EJTLSFUFS o TFJOF &JOLÊVGF JN (FCÊVEF FJOMBEFO "V FSEFN CSBVDIU NBO OJDIU EVSDI EBT %PSG [V GBISFO VN EFO )PSOFS 5VJOTQFDJBMJTU [V FSSFJDIFO OVS FJONBM (BT HFCFO VOE NBO TUFIU BC EFS / EJSFLU WPS EFS 5àS #FSFJUT TFJU VOHFGÊIS FJOFN IBMCFO +BIS CFHSà U EFS OFVF 5VJOTQFDJBMJTU TFJOF ,VOEFO BVG EFN OBNFOMPTFO LMFJOFO *OEVTUSJFHFMÊOEF LMFJOF ,JMPNFUFS FOUGFSOU WPO EFS %FVUTDIFO (SFO[F "MMFT JO BMMFN TUFIU EFS 5VJOTQFDJBMJTU )PSO FJO IBMCFT +BIS OBDI &SÚGGOVOH XJF FJOF &JOT %FS 5VJOTQFDJBMJTU MJFCU 0SEOVOH VOE 4BVCFSLFJU VOE EJFT TUSBIMU TFJO [XFJUFS -BEFO EBOO BVDI BVT 7PO BV FO TUSBNN XFJ HFTUSJDIFO WPO JOOFO HFOBVTP TUSBNN TDIXBS[ HFGMJFTU %JFT WFSMFJIU EFN -BEFO FJOF HFXJTTF %FTJHOBVTTUSBIMVOH *OEPPS
(BSUFOCBV NBDIU BVG DIJD %JF )FSSFO EFT )BVTFT IBCFO BVDI HSP F 1MÊOF NJU EFN (FMÊOEF [XJTDIFO EFS 4USB F VOE EFO 'JSNFOHFCÊVEFO JO ,àS[F FSXBSUFU NBO EJF FSTUF -JFGFSVOH FYP UJTDIFS (FXÊDITF XPNJU EPSU EBOO FJO QSÊDIUJHFS (BSUFO BOHFMFHU XFSEFO TPMM 6OE TP IBU )PSO EBOO FJOF OFVF "UUSBLUJPO EBCFJ %BT 4PSUJNFOU JTU HFEJFHFO VOE LPN QMFUU XPCFJ EJF #FUPOVOH BVG 4JDIFSIFJU MJFHU -JFCFS FJOF FUXBT UFVSFSF " .BSLF BMT VOTJDIFSF 'ÊMTDIVOH JTU EFS
EBIJOUFS MJFHFOEF (FEBOLF .JU FJOJ HFS 3FHFMNÊ JHLFJU HJCU FT BVDI FSTU LMBTTJHF (FCSBVDIUXBSF JN "OHFCPU BVDI XFOO EJFT WPS BMMFN o HFUFTUFUF o #FMFVDIUVOHTBSUJLFM TJOE 4UBSL JTU NBO IJFS WPS BMMFN JO HSàOE MJDIFS ,VOEFOCFSBUVOH VOE [VN (MàDL JTU %FVUTDI IJFS HFOBV XJF CFJOBIF àCFSBMM JO -JNCVSH EJF [XFJ UF 4QSBDIF ,FJOF "OHTU BMTP WPS ,PNNVOJLBUJPOTQSPCMFNF "VDI XFOO 4JF OVS NJU .àIF FJOF )BOGQGMBO[F WPO FJOFN 4BMBULPQG VOUFSTDIFJEFO LÚOOFO IJFS OJNNU NBO TJDI EJF ;FJU VN *IOFO EJF GFJOFO ,OJGGF EFT 'BDIT [V FSLMÊSFO 6OUFS CFTPOEFSFS #FSàDLTJDIUJHVOH EFS WPS BMMFN NJU 4BNFO [àDIUFOEFO ÚTUMJDIFO /BDICBSO JTU EJF LPNQMFU UF ,PMMFLUJPO WPO 3PZBM 2VFFO 4FFET WPSSÊUJH %JFTF SFMBUJW KVOHF 'JSNB IBU JO[XJTDIFO FJOF BOTFIOMJDIF ,PMMFLUJPO BO 5PQHFOFUJL JN )BVTF NJU V B WFS TDIJFEFOFO GFNJOJTJFSUFO 7BSJBOUFO &T NàTTUF NJU EFN 5FVGFM [VHFIFO GJOEFU NBO IJFS OJDIU HFOBV EJF 4PSUF XFMDIF HFOBV [VN ;VDIUOJWFBV VOE (FTDINBDL QBTTU %JF 1SFJTF MJFHFO JN /PSNBMFO BVDI LÚOOFO XJFEFSLFISFOEF VOE HSÚ FSF ,VOEFO NJU JOUFSFTTBOUFO 3BCBUUFO SFDIOFO &YUSBT XJF EBT HFHFO FJOFO LMFJOFO ,PTUFOCFJUSBH [VSàDLOFINFO
EFT "CGBMMT XJF HFCSBVDIUF 4MBCT TJOE FJO XFJUFSFS 1MVTQVOLU EJFTFT TUSBNNFO -BEFOT %BTTFMCF HJMU GàS EFO 7FSMFJI WPO $BOOBDVUUFST FJO OBIF[V VOFOU CFISMJDIFT )JMGTNJUUFM OBDI EFS &SOUF 6OE TPNJU JTU EJFT FJOF VOFOUCFISMJDIF "ESFTTF JN (SFO[MBOE
5VJOTQFDJBMJTU 4QPSUQBSLMBBO D "1 )PSO /JFEFSMBOEF 5FM ½GGOVOHT[FJUFO .P %J CJT 'S 4B
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%JF OÊDITUF "VTHBCF FSTDIFJOU BN 4FQUFNCFS
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D V N H U Z L Q # D W D P L F R P L : : : $ 7 $ 0 , & 2 0