PXOWLPHGLDGD:HEGL]DLQLQDZLOL,$GREH3KRWRVKRS

5>7A,0 %>5-0948>7-8,60>+>78>,

@>2.>5>7A,012078,</@,J

%>5-0948>7-8,60>+>78>,

NWPZEIJKIPQEUHYEFXWXYI

 >WNFIRMQWPFQE
 JINEQKI6W\OHV
 \IVWEFWDWPQE
 E\HNEFWDWPQE
 ZWZ>NEFWDWPQE
 LQIYJEFWDWPQE

%>5-0948>7-8,

I>NIXI\GE>ENMVQWPFQEFLWPY\EFF>GIOIF>GIYIXINEVWE

 XIYME.I>WVUMYJIUQOEFUEOI\AI\E\QWK\WQEOI\XIOYMRWKENEAFIPITINOW3URMHFW
OI LWIK[EWVDIENE7H[W OIIJIQIKIGWVDIENEOI YMIVIGFWVEXEWUKI\EFWKVWKV
UHV>WLEFIYHLIMDIENVI\LWFIOIKWNIO
 ITIOXE\WVFIREFEDWKWEAOII]EKWVUNIGEIQHKISW' TENIUF
 LWIK[EWVK`I\WI)LOH?1HZ XIE>F\WIOEINMXHKE DI\@IKI1HZFQKEPM\LE1DPH
LWEQI\WVDIENEFFI>WNESLFWXUH LWEQI\WV:LGWKOI +HLJKWFQKEPM\WLE
DHKZNEFSMYWESL[HOVOI  SL[HOV FQKEPM\WLE5HVROXWLRQ
XIK[WGEFH\IKEI\MILWEQI\WV 0RGHKWEYEF[IYM\IVGINEOI\LWIK[EWVDWKWEF
YMOWNE5*%&RORU @XHDLE&RQWHQWVYM\EL\WV DHKZNEFDWKE:KLWHVWVKE
OII]EKWV2. WUKI\SWXIYM[\OWIVWVKEDHKZWNE
 LWIK[EWV>WNFIRM8>7-8,JIKIYWQKWEFJI\WNSWIEFI>WI>WNFIRM8>7-8,-
JIKIYWQKWE

 LWIK[EWVLKEDQE&RXULHUOI SMYI
 YEEGI\WVUHKFMKEDHKZWNSWAXI[\OWIQWPFQHKEUHKFMKE OII]EKWVVIXGEF
YIKZ>W\ITENIUFOIIHLGEVAIUKEDWVUNIGEIQHKEOI\QWPFQEAYIXINEVIO$GREH

JIKIYWQKWEFJI\WNSWIEFI>WIMKEI>INETENIUE

2. &DQFHO
 OII]EKWVJIKIYWQKWEFJI\WNEFTENIUF2.A QWPFQE
OIDEPFEKOWIDHKZWNSWOILKWWEFJINEQKISWXI[\OWI
I>INELKWRIKRWKEV$GREH>MNMYE\EIQHKISWXI[\OWI
FEYMNM7
 OII]EKWVMK@WKVIXGEFYIKZ>W\ITENIUFLKWWEF
JINEQKEFYE\EIQHKISW7A QWPFQEYME\EL\WI
 OII]EKWVVIXGEFTENIUFJIKIYWQKWEFJI\WNEFDWKWEF
ITY\ELG\WNH@KISWAXIE>F\WIOEINMXHKEDI\@IKI&RORU
3LFNHULWIK[EWVFIFHKGWNEDWKEOIOII]EKWV2.

DYWRUHELQLQRNDUEHOD6YLOLUXVXGDQHULV7DYLDOHTVDQGUHYHOLMDQD6YLOL 
PXOWLPHGLDGD:HEGL]DLQLQDZLOL,$GREH3KRWRVKRS
5>7A,0 %>5-0948>7-8,60>+>78>,

OII]EKWVJIKIYWQKWEFJI\WNEFTENIUF2.A QWPFQEFDWKELWEZGNWI

QWPFQSWLWFI=NWWNEI[KOENEFIOIF>GIWDWPQWEFLWPY\I

 LWIK[EWVYW\EHOI\K/I\WI/D\HU?/D\HU6W\OH?'URS6KDGRZ I\ MK@WKOII]EKWV
VIXGEF YIKZ>W\ITENIUFLKEFRIKRWKISW$GREHXIE>F\WIOEINMXHKEDI\@IKI
/D\HU6W\OH
 YM\EL\WVH@KI3UHYLHZ VH EFYM\EL\HNEIKIKEF
 LWIK[EWV6W\OH[IYM\IVGINEOI\'URS6KDGRZOI LWIK[EWV[KOENEFFIFHKGWNE
JIKIYWQKWE OII]EKWV2.

I>NIOIGDWKMVQWPFQEFQENEV FQENERIKYMIOXW\FWDWPQWEF\IUKWF

 105,8206W\OHV

 LWIK[EWVYW\EHOI\K`I\WI:LQGRZ?6KRZ6W\OHV OII]EKWV
VIXGEFYIKZ>W\ITENIUFFIFHKGWNEFQENEFJEPQMXKIYISW
QWPFQEFOIDWKGILWEZGNWI

[GW\LWXGE=NEIJINEQKIFF>GIFQENWEOIGHYIQMV
 JINEQKEFYW\EHOI\LWIK[EWVJH\PQE7H[W(IIHFWVDVO
 XIE>F\WILWQME\WEFDI\@IKIAKMYWNEZXGWUEV>WI
LWEZGINMFVHOIWYIQMFJINEQKIFFQENWE OII]EKWV
TENIUF$SSHQGOIHYIQW JINEQKIFOIWYIQWILWK[WHNE
FQENWE
 LWIK[EWVFIFHKGWNEFQENEAQWPFQEFOIDWKGIEFWG
LWEZGNWI
 OIIUGEKOEVLKWWEFJINEQKIF QWPFQEFLKWFOIWYIQI
WDWPQEF\EL\HNEOIEYWDWPQWEF[IYM\IVGINEAKMYNEFXI\IZ
LWOXWILWK[WHNEFQENE

I>NILWGPY\IVI>INEFQENEOIOIGHYIQMVEFJINEQKIF

DYWRUHELQLQRNDUEHOD6YLOLUXVXGDQHULV7DYLDOHTVDQGUHYHOLMDQD6YLOL 
PXOWLPHGLDGD:HEGL]DLQLQDZLOL,$GREH3KRWRVKRS
5>7A,0 %>5-0948>7-8,60>+>78>,

 XIIHPYWVOIDWKGIFQENEVAIYEFIVGEFOII]EKWVVIXGEFYIKZ>W\ITENIUF
6W\OHVJINEQKEFFQENEVOIDWKGEFXIHPYWEFJEPQMXKIYISW QWPFQEFFQENEV
OIDWKGIXIHPYOWI
 LWIK[EWVYW\EHOI\K=I\WI/D\HU?/D\HU6W\OH?%OHQGLQJ2SWLRQVXIE>F\WI
OEINMXHKEDI\@IKI/D\HU6W\OH

 LWIK[EWVFIFHKGWNEWDWPQWEOIYIVEJIKIYWQKWE
 OII]EKWVTENIUF1HZ6W\OHI>INEFQENE XIE>F\WIOEINMXHKEDI\@IKI1HZ6W\OH
 FQKEPM\LE1DPHLWEQI\WVI>INEFQENEFFIFHKGWNEFI>WNE OII]EKWV2.
 OIIUGEKOEVJIKIYWQKWEFJINEQKIF6W\OHYIFOIWYIQI[GW\FYEWKLWPY\ENEFQENE

I>NILWGPY\IVQWPFQEFLKEFIFNEOIQWPFQFYM>ISHNMILWHZGINMV

 LKWWEFJINEQKEFYW\EHOI\LWIK[EWV
'XEOLFDWH/D\HU XIE>F\WIOEINMXHKEDI\@IKI
'XEOLFDWH/D\HU OII]EKWV2. XI[\OWII>INE
LKWRIKRWKEV$GREHFRS\
 OII]EKWVTENIUF&WUOA IKIHLGIVA
XIOIIIOXENWVQWPFQEOIYMIVIGFWVEFWAKMY
[I\OWFMKEGWIFNE
 LWIK[EWV>WNFIRM8>7-8,A VHEFIKIKEFLWK[WHNE
 OII]EKWVVIXGEFTENIUFJIKIYWQKWEFJI\WNEF
QWPFQEFYM>ISHNMEFJEPQMXKIYISW XIE>F\WI
OEINMXHKEDI\@IKI:UDS 7H[W
 FQKEPM\LE6W\OHFQENWEF[IYM\IVGINEOI\
LWIK[EWVFQENE)ODJOI\IK[W\EJIKIYWQKWE
LWIK[EWVFHKIVEFYE>WOGEVOIOII]EKWV2.
OII]EKWVJIKIYWQKWEFJI\WNEFTENIUF2.A QWPFQEF
FQENELWEZGNWI

DYWRUHELQLQRNDUEHOD6YLOLUXVXGDQHULV7DYLDOHTVDQGUHYHOLMDQD6YLOL 
PXOWLPHGLDGD:HEGL]DLQLQDZLOL,$GREH3KRWRVKRS
5>7A,0 %>5-0948>7-8,60>+>78>,

IKFWMFQWPFQEFLWPY\EFF>GI>WK>EAKMYWNEZQWPFQEFMKEW\QIZEEFLWZGNEF
FILHINWIFE=NWGI

 YEEGI\WVUHKFMKEDHKZNEFVIGEFHDINIOXENSWOII]EKWVVIXGEFYIKZ>W\I
TENIUFAIKIHLGIVOIYM>ISWV[IK[M [IK[MLEXI[\OWIYMZEYZEYWUHKFMKE
 UNIGEIQHKEOI\IUKEDWVQWPFQE3KRWRVKRS
 YEEGI\WVUHKFMKE[IK[MFKMYWNEYWUHV>EF\EL\HNEFXIKWVAOIWNMOWV
KUINHKE UHKFMKEFXIYM[W\IFAOII]EKWVVIXGEFYIKZ>W\ITENIUFAIKIHLGIVA
IIYM=KIGWVVIXGEOIYMIKH\WVQWPFQE OII]EKWVJIKIYWQKWEFJI\WNEFTENIUF
2. QWPFQEOIDEPFEKOWIDHKZWNSW
 LWIK[EWVFIFHKGWNEFQENEOIOIDWKWVQWPFQE
 LWE\I>WVDIENEVPGW\FFIPITINOWLE

I>NILWGPY\IVWDWPQWEQWPFQSWF>GIOIF>GIDENQKWEFXIYMW\WEV

 XIYME.I>WV UMYJIUQOEFUEOI\AI\E\QWK\WQEOI\XIOYMRWKENEAFIPITINOW3URMHFW
OI LWIK[EWVDIENWE7H[W 7H[W7H[WOI7H[W
 OIIJIQIKIGWVFIYEGWDIENEOIYMIVIGFWVEFE\EWUKI\EFPGWOI\IRENLE

C0=>,->+>78,

I>NILWGPY\IV7H[WDIENSWIFI>HNE\IVWEFWDWPQE

 LWIK[EWVYWMKIOEDWKELIGE
 LWIK[EWVK`I\WI)LOH?1HZ XIE>F\WIOEINMXHKEDI\@IKI1HZLWEQI\WV:LGWKOI
+HLJKWFQKEPM\WLEDHKZNEFSMYWE SL[HOVOI  SL[HOV FQKEPM\WLE
5HVROXWLRQXIK[WGEFH\IKEI\MILWEQI\WV 0RGHKWEYEF[IYM\IVGINEOI\
LWIK[EWVDWKWEFYMOWNE5*%&RORU @XHDLE&RQWHQWVYM\EL\WVDHKZNEFDWKE
%DFNJURXQG OII]EKWV2. WUKI\SWXIYM[\OWILIGEDHKZWNE
 LWIK[EWV>WNFIRM8>7-8,JIKIYWQKWEFJI\WNLELWIK[EWVQWPFQEFLKEDQEA
SMYI OIDWKEVWVKE IUKEDWVFEQGI7(;7 OII]EKWVJIKIYWQKWEFJI\WNEF
TENIUF2.
 LWIK[EWV>WNFIRM?06006?,5>0OI OIISHFQWVQWPFQEFYOWIKWMIDHKZWNSW
 YM\EL\WVQWPFQEAOII]EKWVWKVOKMHNIO&WUOTENIUFI OIVIXGEFYIKZ>W\I
TENIUF QWPFQEFLKWSW
 I>NI LWGE\I>MVYM\ELG\I LWIK[EWVYW\EHOI\K`I\WI6HOHFW?6DYH6HOHFWLRQ
XIE>F\WIOEINMXHKEDI\@IKI6DYH6HOHFWLRQOII]EKWV2.
 YM>FW\EV YM\ELG\IAOII]EKWVWKVOKMHNIO&WUOOI ' TENIUWF

I>NIQWPFQSWXIYMGEW\MVDENQKEAIYEFIVGEF@WKH\OIXIGIWKVEI\MVLKWWE

 LWIK[EWVYW\EHOI\K`I\WI/D\HU?)ODWWHQ,PDJH
 LWIK[EWVYW\EHOI\K`I\WI)LOWHU?%OXU?*DXVVLDQ%OXU OEINMXHK DI\@IKILE
JIKIYWQKEF5DGLXVY\ELG\WNMILWEQI\WV OII]EKWV2.

XIYMFI>HNWIFYEGZWVYMYRGI\M\IVWEFWNDWKE

DYWRUHELQLQRNDUEHOD6YLOLUXVXGDQHULV7DYLDOHTVDQGUHYHOLMDQD6YLOL 
PXOWLPHGLDGD:HEGL]DLQLQDZLOL,$GREH3KRWRVKRS
5>7A,0 %>5-0948>7-8,60>+>78>,

 LWIK[EWVYW\EHOI\K`I\WI,PDJH?$GMXVW?+XH6DWXUDWLRQ OEINMXHKDI\@IKILE
YM\EL\WVH@KI&RORUL]H LWEQI\WV+XH ±6DWXUDWLRQ± XIYMFI>HNWIYEETWF
YMYRGI\MWNDWKF

I>NIXIYMGE=I>MVLW\I>HNEYM\ELG\IAZMQILWGIYZEKMVOIOIGDWKMVEXE

 LWIK[EWVYW\EHOI\K`I\WI6HOHFW?/RDG6HOHFWLRQ XIE>F\WIOEINMXHKEDI\@IKI
/RDG6HOHFWLRQOII]EKWV2.
 LWIK[EWVYW\EHOI\K`I\WI6HOHFW?0RGLI\?&RQWUDFW XIE>F\WI OEINMXHKEDI\@IKI
&RQWUDFWLWEQW\WVOII]EKWV2.
 LWIK[EWVYW\EHOI\K`I\WI(GLW?)LOO XIE>F\WIOEINMXHKEDI\@IKI)LOO
[IYM\IVGINEOI\8VHLWIK[EWV%ODFNOII]EKWV2. YM\EL\HNEQWPFQEOIEDWKWI
LIGIO
 YM>FW\EV YM\ELG\IAOII]EKWVWKVOKMHNIO&WUOOI ' TENIUWF
 LWIKENWVQWPFQEFUM\QHKEALWIK[EWVYW\EHOI\K`I\WI)LOWHU?%OXU?*DXVVLDQ
%OXU OEINMXHKDI\@IKILEJIKIYWQKEF5DGLXVY\ELG\WNMILWEQI\WV OII]EKWV
2.

,C/5,->+>78,

I>NILWGPY\IV7H[WDIENSWIFI>HNEE\HNEFWDWPQE

 LWIK[EWVK`I\WI)LOH?1HZ XIE>F\WIOEINMXHKEDI\@IKI1HZLWEQI\WV:LGWKOI
+HLJKWFQKEPM\WLEDHKZNEFSMYWE SL[HOVOI SL[HOV FQKEPM\WLE
5HVROXWLRQXIK[WGEFH\IKEI\MILWEQI\WV 0RGHKWEYEF[IYM\IVGINEOI\
LWIK[EWVDWKWEFYMOWNE5*%&RORU @XHDLE&RQWHQWVYM\EL\WVDHKZNEFDWKE
%DFNJURXQG OII]EKWV2. WUKI\SWXIYM[\OWILIGEDHKZWNE
 LWIK[EWV>WNFIRM8>7-8,JIKIYWQKWEFJI\WNLELWIK[EWVQWPFQEFLKEDQEA
SMYI OIDWKEVWVKE IUKEDWVFEQGI7(;7 OII]EKWV2.
 LWIK[EWV>WNFIRM?06006?,5>0OI OIISHFQWVQWPFQEFYOWIKWMIDHKZWNSW
 LWIK[EWVYW\EHOI\K`I\WI/D\HU?)ODWWHQ,PDJH
 LWIK[EWVYW\EHOI\K`I\WI)LOWHU?3L[HODWH?&U\VWDOOL]H OEINMXHKDI\@IKILE
JIKIYWQKEF&HOO6L]HY\ELG\WNMILWEQI\WV OII]EKWV2.
 LWIK[EWV>WNFIRM'064-C/2,'4%,OI YM\EL\WVDM\E
 LWIK[EWVYW\EHOI\K`I\WI6HOHFW?,QYHUVHQWPFQE YME\EL\WI
 LWIK[EWVYW\EHOI\K`I\WI)LOWHU?1RLVH?$GG1RLVH OEINMXHKDI\@IKILE
JIKIYWQKEF$PRXQWY\ELG\WNMILWEQI\WV YM\EL\WVH@KWE*DXVVLDQOI
0RQRFKURPDWLFOII]EKWV2.
 LWIK[EWVYW\EHOI\K`I\WI)LOWHU?%OXU?*DXVVLDQ%OXU OEINMXHK DI\@IKILE
JIKIYWQKEF5DGLXVY\ELG\WNMILWEQI\WV OII]EKWV2.
 YM>FW\EV YM\ELG\I
 LWIK[EWVYW\EHOI\K`I\WI,PDJH?5RWDWH&DQYDV?&: XIYMFI>HNWIYMKH\OWI
 LWIK[EWVYW\EHOI\K`I\WI)LOWHU?6W\OL]H?:LQG OEINMXHKDI\@IKILEYM\EL\WV
H@KWE %ODVWOI )URPWKH5LJKW OII]EKWV2.
 UGNIG YMIKH\WVFHKIVEK`I\WEV,PDJH?5RWDWH&DQYDV?&&:

DYWRUHELQLQRNDUEHOD6YLOLUXVXGDQHULV7DYLDOHTVDQGUHYHOLMDQD6YLOL 
PXOWLPHGLDGD:HEGL]DLQLQDZLOL,$GREH3KRWRVKRS
5>7A,0 %>5-0948>7-8,60>+>78>,

I>NIXIYMFI>HNWIFYEGZWVE\HNEFWNDWKE

 LWIK[EWVYW\EHOI\K`I\WI,PDJH?$GMXVW?+XH6DWXUDWLRQ OEINMXHKDI\@IKILE
YM\EL\WVH@KI&RORUL]H LWEQI\WV+XH ±6DWXUDWLRQ±

A>A%5,->+>78,

I>NILWGPY\IV7H[WDIENSWIFI>HNEZWZ>NEFWDWPQE

 LWIK[EWVK`I\WI)LOH?1HZ XIE>F\WIOEINMXHKEDI\@IKI1HZLWEQI\WV:LGWKOI
+HLJKWFQKEPM\WLEDHKZNEFSMYWE SL[HOVOI SL[HOV FQKEPM\WLE
5HVROXWLRQXIK[WGEFH\IKEI\MILWEQI\WV 0RGHKWEYEF[IYM\IVGINEOI\
LWIK[EWVDWKWEFYMOWNE5*%&RORU @XHDLE&RQWHQWVYM\EL\WVDHKZNEFDWKE
%DFNJURXQG OII]EKWV2. WUKI\SWXIYM[\OWILIGEDHKZWNE
 LWIK[EWV>WNFIRM8>7-8,JIKIYWQKWEFJI\WNLELWIK[EWVQWPFQEFLKEDQEA
SMYI OIDWKEVWVKE IUKEDWVFEQGI7(;7 OII]EKWV2.
 LWIK[EWV>WNFIRM?06006?,5>0OI OIISHFQWVQWPFQEFYOWIKWMIDHKZWNSW
 LWIK[EWVYW\EHOI\K`I\WI/D\HU?)ODWWHQ,PDJH
 LWIK[EWVYW\EHOI\K`I\WI)LOWHU?3L[HODWH?&U\VWDOOL]H OEINMXHKDI\@IKILE
JIKIYWQKEF&HOO6L]HY\ELG\WNMILWEQI\WV OII]EKWV2.
 YMIKH\WVXIYMFI>HNWIKI\WEV,PDJH?5RWDWH&DQYDV?&: XIYMFI>HNWI
LWKH\OWI
 LWIK[EWVYW\EHOI\K`I\WI)LOWHU?6W\OL]H?:LQG OEINMXHKDI\@IKILEYM\EL\WV
H@KWE :LQGOI )URPWKH/HIW OII]EKWV2.
 XIEYWMKWVMNMFXIYMW\WHNEDENQKEALWIK[EWVYW\EHOI\K`I\WI)LOWHU?:LQG
I\ UNIGEIQHKISWWKVOKMHNIOOII]EKWVTENIUWF&WUOOI)
 LWIK[EWVYW\EHOI\K`I\WI)LOWHU?'LVWRUW?5LSSOH OEINMXHK DI\@IKILELWEQI\WV
$PRXQWJIKIYWQKWEFY\ELG\WNMI [IYM\IVGINEOI\6L]HLWIK[EWV/DUJH
 UGNIG YMIKH\WVFHKIVEK`I\WEV,PDJH?5RWDWH&DQYDV?&&:

I>NIXIYMFI>HNWIFYEGZWVZWZ>NEFWNDWKE

 LWIK[EWVYW\EHOI\K`I\WI,PDJH?$GMXVW?+XH6DWXUDWLRQ OEINMXHKDI\@IKILE
YM\EL\WVH@KI&RORUL]H LWEQI\WV+XH ±6DWXUDWLRQ±

 380@1,->+>78,

I>NILWGPY\IV7H[WDIENSWIFI>HNELQIYJEFWDWPQE

 LWIK[EWVK`I\WI)LOH?1HZ XIE>F\WIOEINMXHKEDI\@IKI1HZLWEQI\WV:LGWKOI
+HLJKWFQKEPM\WLEDHKZNEFSMYWE SL[HOVOI SL[HOV FQKEPM\WLE
5HVROXWLRQLWEQI\WV 0RGHKWEYE[IYM\IVGINEOI\LWIK[EWVDWKWEFYMOWNE
5*% &RORU @XHDLE&RQWHQWVYM\EL\WVDHKZNEFDWKE:KLWH OII]EKWV2.
 LWIK[EWV>WNFIRM8>7-8,JIKIYWQKWEFJI\WNLELWIK[EWVQWPFQEFLKEDQEA
SMYI OIDWKEYWN\EFDWKE IUKEDWVFEQGI7(;7 OII]EKWV2.
 LWIK[EWV>WNFIRM?06006?,5>0OI YMIVIGFWVQWPFQEDHKZNEFZW\QKLE
 LWIK[EWVYW\EHOI\K`I\WI/D\HU?)ODWWHQ,PDJH
DYWRUHELQLQRNDUEHOD6YLOLUXVXGDQHULV7DYLDOHTVDQGUHYHOLMDQD6YLOL 
PXOWLPHGLDGD:HEGL]DLQLQDZLOL,$GREH3KRWRVKRS
5>7A,0 %>5-0948>7-8,60>+>78>,

 LWIK[EWVYM\ELG\EF>WNFIRM@02=</=%>6,OI YM>ISWVYIKVUHV>I[IK[M
QWPFQEFXIKLWYM
 LWIK[EWVYW\EHOI\K/I\WI(GLW6WURNHUM\QHKE XIE>F\WIOEINMXHKEDI\@IKI
6WURNH H@KILE:LGWK±UM\QHKEFFEFPWLWEQI\WV YM\EL\WVJH\PQE,QVLGH
OI\IK[W\EJIKIYWQKWEHZGNWNIOOIQMGWV OII]EKWV2. FHKIVSWYME>ISWI
YIKVUHV>IUM\QHKE
 LWIK[EWVYW\EHOI\K`I\WI(GLW?7UDQVIRUP?5RWDWHOI YMIKH\WVXIYMFI>HNWIA
OII]EKWVUNIGEIQHKEF(QWHUTENIUF YM>FW\EVYM\ELG\I
 LWIK[EWVYW\EHOI\K`I\WI)LOWHU?6NHWFK?6WDPS XIE>F\WIOEINMXHKEDI\@IKI
6WDPS H@KILE/LJKW'DUN%DODQFH±LHP[KOENEFINI\FELWEQI\WVH@KILE
6PRRWKQHVV±LWKENWILWEQI\WV OII]EKWV2.
 LWIK[EWVYW\EHOI\K`I\WI)LOWHU?6NHWFK?7RUQ(GJHV XIE>F\WIOEINMXHKEDI\@IKI
7RUQ(GJHV H@KILE,PDJH %DODQFH±INI\FELWEQI\WV H@KILE 6PRRWKQHVV±
LWKENWILWEQI\WV H@KILE&RQWUDVW±UM\QKIFQELWEQI\WV OII]EKWV2.
LQIYJEF WDWPQEYETWHNEI
 LWE\I>WVDIENEVPGW\FFIPITINOWLE

DYWRUHELQLQRNDUEHOD6YLOLUXVXGDQHULV7DYLDOHTVDQGUHYHOLMDQD6YLOL