$ZÍ,L]YVKÔQDP6WDH¥P

CL6ZU!6ZD>X!¾X,5P!¾YUDHYUGDHYU!
VYD57PDVY5LY2\DW!VY5!VY5NUDHY!
MT,FP,5L]R^I,FVYDJ!VY5DYQ!
KUËKLU>D@ËVY58WKU!¾X!
¾Y L¢ËLQY L¢ËLQ\W!]DÏWDH¶XY!
=P]DQYDV,JYDQRFUDHJDHFUDH G5Q!
$LYD DHPKDNPD5WS6Y,8WDYQ!
1P¢YH¾&'¸!VY5ODHN¾MDSLW!
PKDÈSDHPKDND\DHY ÈSDHPKD\]D!
PKD7PDVY58WD7PDLYÏÈSDHPKDKQX!
ODHNSDODH 1WLK5WD7PD¾VDGDHK\JG5L!
SLY¥FPKDË(YLQ\PDHLQ\PDLÍW!
VY5NPD56Y\8W$DLGUDLGNUDHLQL[!
VKÔD@DHLY]DOD@!VDHPDHQ@¥VD[N!
Page 1 of 16
F1²!V8\5!]LQ!NHWX€5KDH€KSLWY5U!
$L¥U¦\DQP6NWD5P JED>DS5>DH Q!
PKDWSDDHUWSD$G,QDHG,QVD[N!
VY7VUNUDHP·!¾PD>SUPWS!
\DHJ,\DH-\DHPKDE,MDHPKDUHWDPKDEO!
VXY>5UHWD!VY5`!VXE,MDHE,MYDKQ!
G]EDÕ67YLQLPDHQ,ON^4PDSLW!
LYÏÈS!6Y\ÍHÑDHEOY,UDH EODHJ>!
J>NWD5J>SLWLG5*YDVD!NDP#YF
P·LY7SUPDHP·!VY5DYNUDHKU!
NP^IOX[UDH[1Y,ED>K6W!NSDOYDQ
$]Q,]W—,RI{J,SLs],FD\X[,PKDQ
ÔXYK6W!VXÈSËWHM6WHM6NUDHLQL[!
L>,FVXYËG€DHLYQW6WZD
G,5ËKLUNH]ËVXW,Z5!N‰>#YF
V JDOÈS!LV­DZDH5PX^I!VY5]XNU!
Page 2 of 16
$MËEÕÈSËJ1[[DU,NS 5LS
A;Y5UHWDA;Y5LOJA;Y5]D\,Q!6ZO!
L¥MT,F,UYDVDËDz!VHQDSLWLY5X!
$KËUDHQ‹FUL6W*PP1\X!VXYF5V!
JMKDG(7\KDNDODHODHN[DWDJX>DNU!
LVK]D©5OÈSË$D²5FPD50EUDY W!
NDO\DHJ,PKDQDG!VY5NDPËWXSZ!
LQ]DFU!¾HWFDU,8WFDU,PKHÏU!
EÕ8WDHEÕ[U!6YD5QXULPWDHJLW!
Q 7\L¾\DHLQ7\QWDH5QW5N!VY5ODOV!
DHUDHPKDWSD!SD]DHLQ7\DHLJLUÇKDHQ!
VKÔK6WDHLYM\DH9\YVD\DHÛWL1²W!
$[5>DH[5>D7PD\`KDNDPQD]N!
G@\DJDSKDU,FVXVKDHP;\P6WZD
WHMDHSKDU,EOKDPXLGWDH ZDH5 LMWDHYU!
J0,UDHDHJ0,UDHJ0,UEOYDKQ!
Page 3 of 16
1\€DH[ÈSDH1\€DH[DHY @N>5L6ZLWLY5X!
VXW,Ø>G]QË(YPKDND\DHPKDQQ!
LYY.VHQDHKLU\5`!V\XJDS,IYDKQ!
W,Ø>WDSËK\5Ï!VKD\!NP5NDOLYW
LY>X¾VDLGWDH\`!VPX²DHEIYDPXR!
ÕWD]QVKD\˾]D1WD7PDÕWD]Q!
€WHMDPKDWHMDM1\DHLYM\NDOLYW
-\DHLWDP\QLVL­!VY5LY€K#YF
L]R,PX^I,MT,-YDO,P8LW5MDHP8[5JDHEO,
Y(>Y,S>Y,WDO,RO,NDONTNT!
Q@¥LY€KPLWJX5>EXL­O5\DH JP!
¾MDSLWLY5ÏEDÕLY5DJ!VY5JDH PXR!
LYPDHFQ!VXVU>DHLKU^\NYFDH¯Y!
PH)MDHEOFDU,FPK,FDU,ÔXW6WZD
VY5W8\5LYQDHG,FVYD5WDH SLU€K!
9\DOÈSDHJXKDYDV,JXKDHPDO,WUJLYW
Page 4 of 16
L¥G]LÒNDO[ jP5VY5E1[LYPDHFQ!
E1[Q67YVXUH1²D>D\XL[]¥XLYQD]Q!
VD2\¾VDGDH¨YD5VD!VY5VD[XLQHLYW!
¾6N1GQDHLYDJ`DH$WX/\DH\`DJLYW
VY5YDV!VY5FDU,¨YD5VDYDVYDH PU!
K(PDHKHPNUDH\`!VY5[DU,[UDH¢P!
ODHLKWD@DHPKD@ËLYM\D@DHLY]DUG!
V€KDHLQ€K!NWD5VS5F,ULQYDVQ!
PX2\DH PX2\ËGHKËNDKLO!VY5NDPG!
VY5NDO¾VDGËVXEODHEOÈS[ W
VY5NDPYUË(YVY5G!VY5WDHPXR!
$DND]LQLY5ÈSËLQSDW,ÛY]!RJ!
UD(²ÈSDH ]XUDLG7\DHEÕUL=P!VXYF5V,
YVXYHJDHPKDYHJDHPQDHYHJDHLQ]DFU!
VY5YDV,LÍ\DYDV,SGH]NUDH NU!
PXLQUD7PLQUDODHN!V”ËVKÔG!
Page 5 of 16
S@,FS@ÈSË$LWG,»DHLY]D0SLW!
1PDGDHPGQ!NDPDHÛÏ7ZDH Z5NUDH\]!
YDPGHYËYDP˾D*GL@>ËYDPQ!
LV­\DHJ,PKL5ËLV­DZ5!LV­VD[N!
L@XËL@XÈSËLYS>DHP ¨U9\\!
PKDVHQDHLY]DRËLÑDJDHJYDSLW!
YK6WËLYN0,FP86W0Q#YF
Y ¢DY ¢NU6WDODHP[XP5[XNODHFQ!
YDF6S7\DHYDMVQDHLQ7\PDLÍWS8LMW!
ÂÚFDU,ODHNFDU,VY5FDU,LYFDULYW
]DQÏU!NDODHLQ]DFDU,LSQDNYDQ
LQLP¢6ZDHLQLP¢FQL1GQ5L1GNUDHKLU!
Q1G,ÏUËQ1G,FQ1GQDHQL1GY[5Q!
JKDU,LQK1WDFNDODHÂÚDLSWDPK!
FWXPX5RDHPKDLOJËDÇLOJ6WZ(YF
LOJD;\@!VXUD;\@DH\DHJD;\@DH\XJDYK!
Page 6 of 16
E,MD;\@DHE,MNWD5$;\D7PD QXJWDHEO!
LWKDV!VN/SËJD(WPDH ZLQ]DNU!
G0DHÛG0DHY(G0DHY=\DHY]NU!NLO!
ODHNNWD5S]XSLWP5KDNWD5ÛQD([!
$@USUPÂÚEOY›‘#YF
Q,LWÛ5Q,LW!]X­D7PD]X­DHPD1\DHJWDJW!
EÕ¾VDG!VX6Y½DHGS5>DH Z7YLP¥LMW
YHGNDUDHP·NDUDHLY´DQVPUPG5Q!
PKDPHLQYDV,FPKDDHUDHY],NU!
$L”-YDODHPKD-YDODH$LW[8ÆDHÕWDHKLY!
Y >!]NUDHLQ7\YF56Y,[8PNHWQ!
Q,O6WZDJOX%[Ë]DHQDHLQUY€K!
6YL6WG!6YL6WDYËDJ,DJNUDHOX!
7VJËPKDJËPKDJ5SUD\>!
N‰>Y>5!VXY>5ËL1²\VY5GHLKQDP
PKDSDGDHPKDK6WDHPKDND\DHPKD\]D!
Page 7 of 16
PKDP8[D5PKDPD¥DHPKDQH¥DHLQ]DO\!
PKD1WNDHPKDN>DH5PKDHÑËPKDKQX!
PKDQDVDHPKDN0EXP5KD€,Y!=P]DQDN{
PKDY@DPKDHU6NDHÛ1WUD7PDP JDO\!
O0EQDHOL0EWDHÑËPKDPD\!S\DHLQL[!
PKDG1WDHPKDGÐDHPKDLMÜDHPKDPXR!
PKDQRDHPKDUDHPDHPKDNDH]DHPKDMT!
¾V¸Ë¾VDG˾7\\DHLJLUVD[Q!
ÓHKQDH ÓHKQË(Y$LMWËPKDPXLQ!
Y @DNDUDHY @NHWXUQODHYD\XYDKQ!
J^IO,PHÇ[DPDFGHYDL[SLWUHYF
$ZY5],5!VDPD6\?.VKÔDLPWH@>!
\MX!SDGXMDHJXÛ!¾ND]DHMJP6WZD
$PDHDZ5!¾VDGË$LJ0\!VXG]5Q!
SNDU!L¾\!VY5!NQN!NDFQ&'LY!
QDLQ5L1GNUDHDY!SXNU!6ZSLW!L6ZU!
Page 8 of 16
´DG]ÒDVQËD DH\`DH\`VPDLKW!
Q‹NLOËNDOËPNU!NDOS8LMW!
VJ>DHJ>NDUË8WYDKQVDULZ!
6P]\DH6PJDH»D6P8W6WÇJ5>!
ODHNSDO6WZDODHNDHPKD7PDVY5S8LMW!
]XŠLÒ]XŠ!VS¸!]XLF85WLQHLYW!
$DÍP6Z!L‘\DY6ZDHLYÏNP5PLWY5U!
LY]DO]DR6WDÆDHÑDHÛ0EXMDO!VXLQËO!
NLSO!NLS]!]XŠ$D\XË(YSUDH SU!
J1[YDH5ÛLGLW6WDØ\5!VXLY`H\!VX]DUG!
SUÏ[D\X[DHGHY$QXNDU,VXED1[Y!
WX0EY,>DHPKD‘DH[A;Y5UHWDMOH]\!
€DHY]NUDHY]DHY]QDGDHÛLQL1GW!
VYDJÈSDHPD\DY,VX×GDHÛLQODH QO!
E1[QDHE1[NWD5FVXE1[QLYPDHFQ!
V\`DLU!VNDPDLUP5KDGÐDHPKD\X[!
Page 9 of 16
EÕ[DLQL1GW!]Y5!]NU!]NUDH [Q!
$PUH]DHPKDGHYDHLYÏGHY!VXUDLUKD
$LKEX5;1\DH LQODËFHLNWDQDHKLY6WZD
$M(NSD›NDSDO,L¥]NeULMW!L]Y!
[1Y1WLU[85PNHWX!6N1GDHY(ÍY>6WZD
[DWD]‘ËLY>XËLP¥67YÐD¶XYDH[U!
¾DY!VY5JDHYD\XU\5PDVLYWDULY!
JXËLY[DWDFPD1[DWD8WDYQ!
LYXY5>5LYDY,FVY5NDPJX>DYK!
S°QDDHPKDJ5Ë1²YDH LQODH QO!
EOYDËDHS]D1WËSXUD>!SX^\FFXU,
NeÇNWD5NeÇYDV,NeÇ8WDHJX>D([!
VYD5]\DHG5FDU,VYH5D¾DL>QDSLW!
GHYGHY!VXRDV‹!VGVWVY5U¤LYW
N(ODVLJLUYDV,FLKPYLªLUVÍ\!
NˆOKDU,NˆONWD5EÕLY DHEÕ¾G!
Page 10 of 16
YL>MDHY[5N,Y @DHYNeOË1GQ='G!
VDU€,YDHPKDM¥XUODHOËPKD([!
LV­DZ5NDU,LV­DZ5='1GDH9\DNU>DH¢U!
LVKQDG!LVKGÐ!LVKJ!LVKYDKQ!
¾DYD7PDMJ7NDO6ZDODHODHNLKW6WÇ!
VDUJDHQYF‘DJ!NHWXPDO,VDYQ!
8WDO\DH8WSLWUKDHUD¥PLQL1GW!
YDLKWDVY58WDQDLQO\ËLYX5Y!
$PDH!V\WDHÛÏDHDHMQ!¾D>[DU>!
[ LWPDQPLWPDQG@!V7N‰WË\XJDL[S!
JDHSDLOJDH5SLW€D5PDHJDHFP5YVQDHKLU!
LKU^\EDÕËWZDJXKDSDO!¾YHL]QDP
¾N‰ÐDLUP5KDKDH5LMWNDPDHLMWHL1²\!
JD1[DUËVXYDVËWS!V‹DHULWQ5U!
PKDJ,WDHPKDQ 7\DHÛ3VUDHJ>VHLYW!

Page 11 of 16
PKDNHWXP5KD[DWXQ(5NVDQXFUËO!
$DYHGQ,\$DGH]!VY5J1[VXRDYK!
WDHU>6WDU>DHYDW!SLU[,SLWRHFU!
V\DHJDHY[5QDHY ­DH$LWY ­DHJX>DL[N!
LQ7\PD7PVKD\ËGHYDVXUSLW!SLW!
\X‹Ë\X‹EDÕËGHYDHLGLYVXSY5>!
$DD)ËVXD)˶XYDH ZKLU>DHKU!
YSXUDYW5PDQHB\DHYVXÍHÑDHPKDSZ!
L]UDHKDU,LYP]5ËVY5O@>OL@W!
$@ËUZ\DHJ,FVY5\DHJ,PKDEO!
VPDÅD\DH VPDÅD\6W,Z5GHYDHPKDUZ!
LQM,5YDHM,YQDHP·!]XD@DHEÕNN5]!
U¤¾8WDHU‹DšDHPKD>5YLQSDQLYW
P8OLY]DODHÛP WDH9\‹D9\‹6WSDHLQL[!
$DUDHK>DH L[UDHKË],O[DU,PKD\]D!
VHQDN/SDHPKDN/SDH\DHJDH\XJNUDHKLU!
Page 12 of 16
\XJÈSDHPKDÈSDHPKDQDJKQDHY[!
1\D\LQY5S>!SDG!SL^IWDHÛFODHSP!
EÕPDODHPKDPDO!]],KUVXODHFQ!
LY6WDUDHOY>!NˆSLÒ\XJ!VODHG\!
L¥ODHFQDHLY^>DJDHPL>LY­DHMTD[U!
LE1¨LY5VJ5!VXPXR!]U!VYD5\X[!VK!
LQYHGQ!VXRDMDW!VXJ1[DUDHPKD[QX!
J1[SDO,FJYDQX7ZDQ!VY5NP5>DP
P1ZDQDHEÕODHYD\X!VNO!VY5ODHFQ!
WO6WDO!NU6ZDO,A;Y5VKQQDHPKDQ
'¥VX&'¥DHLY2\DWDHODHN!VYD5Í\!‘P!
PX^IDHLYÈSDHLYN‰WDHG^I,Ne^I,LYNeY5>!
K\5@!NNeDHY,]WLMÜ!VKÔSDW
VKÔP8[D5GHYH1²!VY5GHYP\DHJXÇ!
VKÔEDÕ!VYDJ!]U^\!VY5ODHNN‰W
SLY¥L¥NNe1P·!NLQÑ!N‰>LSJO!
Page 13 of 16
ÂÚG^ILYLQPD5WD]W—,SD]]L‹PDQ
S°JDH5PKDJDH5ÂÚJDH5MODH¯Y!
JL6WÂ5ÚN‰G{ÂÚ,ÂÚLYG{ÂDÚ>DHJLW!
$Q1WÈSDHQ(ND7PDLW*PWHMD!6Y\XY!
A;Y5JD7PDS]XSLWYD5WUKDPQDHMY!
F1GQ,S°QDOD€!VXUB\X¢U>DHQU!
NL>5NDUPKDÔ*Y,Q,OPD(LO!LSQDN[ W
PDSLWÇPDND1WDHMDÙY,[ JXPD[Y!
YUDHYUDKDHYUGDHYUH^\!VXPKD6YQ!
PKD¾VDGDHGPQ!]¥XKDÏHWLSJO!
¾,WD7PDSUPD7PDF¾\WD7PD¾[DQ[ W
VY5SDÏ5PXRÒ@DH[P5VD[DU>DHYU!
FUDFUD7PDV8ØPD7PD$P WDHJDHY HÏU!
VD;\L5Y5VXUDLG7\DHLYY6YDQVLYWD P W!
9\DV!VJ5!VXV@HSDHLY6WU!S\5\DHQU!
?WX!VY7VUDHPDV!S@!V2\DVPDSQ!
Page 14 of 16
NODNDÑDOYDPD¥DPXÖWD5K!@SD!@>D!
LYÏ@H¥¾MDE,MLOJPD 6WXLQJ5P!
VGVx‹P9\‹LSWDPDWDLSWDPK!
6YJ5´DU¾MD´DUPDH@´DUL¥LYÐSP
LQYD5>qDGQË(YÂÚODHN!SUDJLW!
GHYDVXULYLQPD5WDGHYDVXUSUD\>!
GHYDVXUJXÇGH5YDHGHYDVXUQP6N‰W!
GHYDVXUPKDPD¥DHGHYDVXUJ>DÍ\!
GHYDVXUJ>D;\@DHGHYDVXUJ>D€>,!
GHYDLWGHYDHGHYL5GH5YDVXUYU¾G!
GHYDVXUHÏUDHLYÏDHGHYDVXUPKHÏU!
VY5GHYP\DH LF17\DHGHYWD7PD 7PVY!
L¯L7¥LY‘PDHY( DHLYUMDHQ,UMDH PU!
IDHK6W,ÏUDH9\D˜DHGHYLVKDHQU5!
LYEX[DH €YU!V8ØP!VY5GHY6WSDHP\!
VX\X‹!]DHQDHY,¾DVDQD¾YDH 9\\!
Page 15 of 16
JXK!ND1WDHLQM!VJ5!SLY¥VY5SDYQ!
] J,] JL¾\DHEÄ8UDMUDMDHLQUDP\!
$LUDP!VXUJ>DHLYUDP!VY5VD[Q!
OODTD@DHLYÏGHYDHKLU>DHÂÚYF5V!
6ZDYUD>DSLWË(YLQ\PHL1²\Y[5Q!
LV­DZ5!LV­8WDZDH5 LF17\!V7\ÊW!]XLF!
ÊWDL[S!SUÂÚ‹DQDSUPDJLW!
LYPX‹DHPX‹WHMDËÍ,PDQÍ,Y[5QDHMJW

Í,PDQÍ,Y[5QDHMJWCQPLW

LWÍ,L]YVKÔQDP6WDH¥PV0S8>5P


Page 16 of 16