Transportation Plug in Electric Vehicle Infrastructure A Foundation For Electrified Transportation

!
'467(38/#49:;23:/<9=3:49/ !"#$%&%#'%()*+%&(
!"#$%&'()*+(*,-)./
>8?2@A;26:;629B/0/CD68E@;3D8/?D2/ 01234/5+.+/
#49:;23?39E/F2@8A1D2;@;3D8//
'291238;/
!"#$%&'()#
!
"#!$%!&'%(%)*%+!,*!*-%!./"!0)%'12!/)3*3,*34%!"',)(&#'*,*3#)!
05%6*'3736,*3#)!829&#(3:9!
;,9$'3+1%<!.,((,6-:(%**(!
=&'35!><!?@A@!
/
!GF>&##
!*(# +,-./00(1# .%2,+3&/40# *%+# -((2# 566(&(1# -7# %2# (.4)57((# 56# 0*(# 8))/%23(# 65&# 9,+0%/2%-)(# :2(&;7<# ==>#
?89:@<#%#3520&%305&#56#0*(#A9#B5C(&2.(20#,21(&#>520&%30#D5"#E:F8>GHFIJFBKLJGIJ"#8335&1/2;)7<#0*(#A9#
B5C(&2.(20#%21#89:#&(0%/2#%#252(M3),+/C(#&57%)07F6&((#)/3(2+(#05#4,-)/+*#5&#&(4&51,3(#0*(#4,-)/+*(1#65&.#56#
0*/+#3520&/-,0/52<#5&#%))5N#50*(&+#05#15#+5<#65&#A9#B5C(&2.(20#4,&45+(+"#
!*/+#&(45&0#N%+#4&(4%&(1#%+#%2#%335,20#56#N5&'#+452+5&(1#-7#%2#%;(237#56#0*(#A2/0(1#90%0(+#;5C(&2.(20"#
D(/0*(&# 0*(# A2/0(1# 90%0(+# ;5C(&2.(20# 25&# %27# %;(237# 0*(&(56<# 25&# %27# 56# 0*(/&# (.4)57((+<# .%'(+# %27#
N%&&%207<#(M4&(++#5&#/.4)/(1<#5&#%++,.(+#%27#)(;%)#)/%-/)/07#5&#&(+452+/-/)/07#65&#0*(#%33,&%37<#35.4)(0(2(++<#5&#
,+(6,)2(++#56#%27#/265&.%0/52<#%44%&%0,+<#4&51,30<#5&#4&53(++#1/+3)5+(1<#5&#&(4&(+(20+#0*%0#/0+#,+(#N5,)1#250#
/26&/2;(#4&/C%0()7#5N2(1#&/;*0+"##O(6(&(23(#*(&(/2#05#%27#+4(3/6/3#35..(&3/%)#4&51,30<#4&53(++<#5&#+(&C/3(#-7#
0&%1(#2%.(<#0&%1(.%&'<#.%2,6%30,&(&<#5&#50*(&N/+(#15(+#250#2(3(++%&/)7#352+0/0,0(#5&#/.4)7#/0+#(215&+(.(20<#
&(35..(21%0/52<# 5&# 6%C5&/2;# -7# 0*(# A2/0(1# 90%0(+# ;5C(&2.(20# 5&# %27# %;(237# 0*(&(56"# # !*(# C/(N+# %21#
54/2/52+# 56# %,0*5&+# (M4&(++(1# *(&(/2# 15# 250# 2(3(++%&/)7# +0%0(# 5&# &(6)(30# 0*5+(# 56# 0*(# A2/0(1# 90%0(+#
;5C(&2.(20#5&#%27#%;(237#0*(&(56"#
8C%/)%-)(#()(30&52/3%))7#%0#*004PQQNNN"5+0/";5CQ-&/1;(#
8C%/)%-)(#65&#%#4&53(++/2;#6((#05#A"9"#E(4%&0.(20#56#:2(&;7#
%21#/0+#3520&%305&+<#/2#4%4(&<#6&5.P#
A"9"#E(4%&0.(20#56#:2(&;7#
K66/3(#56#93/(20/6/3#%21#!(3*2/3%)#R265&.%0/52#
S"K"#T5M#HL#
K%'#O/1;(<#!D#GUJGVFIIHL#
4*52(P##JHW"WUH"JXIV#
6%MP#JHW"WUH"WULJ#
(.%/)P##.%/)05P&(45&0+Y%152/+"5+0/";5C#
8C%/)%-)(#65&#+%)(#05#0*(#4,-)/3<#/2#4%4(&<#6&5.P#
A"9"#E(4%&0.(20#56#>5..(&3(#
D%0/52%)#!(3*2/3%)#R265&.%0/52#9(&C/3(#
WLJW#S5&0#O57%)#O5%1#
94&/2;6/()1<#Z8#LLVHV#
4*52(P##JII"WWG"HJXU#
6%MP##UIG"HIW"H[II#
(.%/)P#5&1(&+Y20/+"6(1N5&)1";5C#
52)/2(#5&1(&/2;P##*004PQQNNN"20/+";5CQ5&1(&/2;"*0.#
S&/20(1#52#4%4(&#3520%/2/2;#%0#)(%+0#WI\#N%+0(4%4(&<#/23),1/2;#LI\#45+0352+,.(&#N%+0(#
!"#$%&'()"*+,-&+(.*/&+"*(0'1-23,-#+,#-*4(5(67#'82,&7'(17-()"*+,-&1&*8(9-2'3:7-,2,&7'((
!
"#$%!&'()*+!
,'-.#$'+!/*$*0'1+*!2$*(3%!4'1#('-#(%!
5#+6*$7!8#+#('6#!
-#$%9:'()*+;$(*+93#<!
=-->?@@0009$(*+93#<!
!
5;3,-2+,(
A+B3C.$! *+*D-(.D! <*=.D+*E! FA2GEHI0=.D=! .$D+B6*! '++C*+*D-(.D! <*=.D+*E! '$6! >+B3C.$! =%1(.6! *+*D-(.D!
<*=.D+*EI>(#<.6*! '! $*0! #>>#(-B$.-%! J#(! (*6BD.$3! #.+! D#$EB:>-.#$! 1%! 6('0.$3! >#0*(! J(#:! -=*!
*+*D-(.D!3(.69!"#!:'K.:.L*!-=*!1*$*J.-E!#J!A2GE7!-=*!*:*(3.$3!A2G!.$J('E-(BD-B(*IJ(#:!1'--*(%!
:'$BJ'D-B(.$3! -#! D#::B$.D'-.#$! '$6! D#$-(#+! 1*-0**$! -=*! <*=.D+*! '$6! -=*! 3(.6I:BE-! >(#<.6*!
'DD*EE! -#! D+*'$! *+*D-(.D.-%7! E'-.EJ%! E-')*=#+6*(! *K>*D-'-.#$E7! '$6! *$EB(*! E'J*-%9! ! 8B((*$-+%7!
D#6*E!'$6!E-'$6'(6E!#(3'$.L'-.#$E!'(*!D#++'1#('-.$3!#$!'!A2G!.$J('E-(BD-B(*!>+'$9!2E-'1+.E=.$3!
'!A2G!.$J('E-(BD-B(*!J(':*0#()!0.++!D(*'-*!$*0!#>>#(-B$.-.*E!J#(!1BE.$*EE!'$6!M#1!6*<*+#>:*$-!
.$.-.'-.$3!-=*!:#<*!-#0'(6!*+*D-(.J.*6!-('$E>#(-'-.#$9!"=.E!>'>*(!EB::'(.L*E!-=*!D#:>#$*$-E!#J!
-=*! A2G! .$J('E-(BD-B(*7! D='++*$3*E! '$6! #>>#(-B$.-.*E! (*+'-*6! -#! -=*! 6*E.3$! '$6! 6*>+#%:*$-! #J!
-=*!.$J('E-(BD-B(*7!'$6!-=*!>#-*$-.'+!1*$*J.-E9!
!
0',-78#+,&7'( <*=.D+*! F2GH! .$-(#6BD-.#$! D='++*$3*E! FOH9! 2G!
! N<*(! -=*! +'E-! OPP! %*'(E7! #.+! ='E! 1*D#:*! -=*! :'()*-! 3(#0-=! 0'E! =':>*(*6! 1%! :'$%! J'D-#(E7!
6#:.$'$-! -('$E>#(-'-.#$! *$*(3%! E#B(D*9! "=*! .$D+B6.$3! 1'--*(%! >*(J#(:'$D*! '$6! D#E-7! +#$3!
-*D=$.D'+! >*(J#(:'$D*7! D#E-7! '$6! D#$<*$.*$D*! #J! 1'--*(%C(*D='(3*! -.:*E7! +#0! #.+! >(.D*E7! '$6!
#.+!='<*!%*-!-#!1*!D='++*$3*6!1%!'+-*($'-.<*!>#0*(! D#$EB:*(! *K>*D-'-.#$E9! \/'$3*! '$K.*-%7\! -=*! J*'(!
E#B(D*E9! Q$! -=*! D#:.$3! %*'(E7! #.+! 6*:'$6! .E! #J!1*.$3!E-('$6*6!.$!'$!2G!1*D'BE*!#J!.$EBJJ.D.*$-!
*K>*D-*6!-#!*KD**6!EB>>+%7!D'BE.$3!>(.D*!<#+'-.+.-%! 1'--*(%! >*(J#(:'$D*! '$6! 'DD*EE.1+*! D='(3.$3!
'$6! EB>>+%! 6.E(B>-.#$E9! RB($.$3! #.+! '+E#! (*EB+-E! .$! .$J('E-(BD-B(*7!)*>-!D#$EB:*(E!'0'%!J(#:!2GE!FXH9!
*:.EE.#$! #J! 3(**$=#BE*! 3'E*E! -='-! D#$-(.1B-*! -#! ! AY2G! -*D=$#+#3%! 1B.+6E! B>#$! =%1(.6! *+*D-(.D!
D+.:'-*!D='$3*9! <*=.D+*! FY2GH! -*D=$#+#3%! *K>*(.*$D*9! U! AY2GVE!
! N$*! 0'%! -='-! $'-.#$E! D#B+6! ('>.6+%! '66(*EE! 1'--*(%! D'>'D.-%! .E! W]OP! -.:*E! +'(3*(! -='$! '$!
-=*! D#$D*($E! D'BE*6! 1%! (*+.'$D*! #$! #.+! .E! -#! Y2GVE! 1B-! +*EE! -='$! O@^]O@_! -='-! #J! '! -%>.D'+! 2G!
*+*D-(.J%!-=*!-('$E>#(-'-.#$!E%E-*:!'$6!*K>'$6!-=*! F_H9! "=.E! (*6BD*E! -=*! D#E-! #J! AY2GE! D#:>'(*6!
':#B$-! #J! *+*D-(.D.-%! 3*$*('-*6! J(#:! (*$*0'1+*! 0.-=! 2GE! 0=.+*! >(#<.6.$3! 2G! #>*('-.#$! J#(! E=#(-C
E#B(D*E9!"=*!D='++*$3*E!-#!:').$3!-=*!$*D*EE'(%! ('$3*! 6(.<.$3! '$6! Y2G! #>*('-.#$! J#(! +#$3C('$3*!
-*D=$#+#3%! '$6! :'()*-! -('$E.-.#$E! '(*! E.3$.J.D'$-! 6(.<.$39!"=BE7!AY2GE!#JJ*(!JB*+!E'<.$3E7!J+*K.1.+.-%7!
1B-!$#-!.$EB(:#B$-'1+*!.J!D#:>+*-*!.:>+*:*$-'-.#$! '$6!*K-*$6*6!6(.<.$3!('$3*!-#!D#$EB:*(E9!
>+'$E! '(*! D(*'-*6! -#! 'DD#B$-! J#(! -=*! $**6E! #J! ! R*D'BE*!#J!-=*!(*+'-.<*+%!E:'++!AY2G!1'--*(%7!
<'(.#BE! E-')*=#+6*(E9! "=*! S9T9! A(*E.6*$-.'+! .$.-.'+! *K>*D-'-.#$E! 0*(*! -='-! AY2GE! 0#B+6! 1*!
U6:.$.E-('-.#$VE! 3#'+! .E! -#! .$<*E-! .$! '6<'$D*6! D='(3*6! '-! =#:*! J(#:! -%>.D'+! OXPG! #B-+*-E9!
-*D=$#+#3%! EB>>#(-.$3! .$-(#6BD-.#$! #J! P9W! :.++.#$! Y#0*<*(7! E.$D*! E-'(-.$3! .$.-.'+! .$<*E-.3'-.#$E! #J!
>+B3C.$!*+*D-(.D!<*=.D+*E!FA2GEH!1%!XPOW9! AY2G! -*D=$#+#3%7! -=*! AY2G! .$J('E-(BD-B(*!
! /*E*'(D=! #$! >+B3C.$! =%1(.6! *+*D-(.D! <*=.D+*E! ED*$'(.#E!='<*!*K>'$6*6!E.3$.J.D'$-+%9!
FAY2GEH!1%!-=*!2+*D-(.D!A#0*(!/*E*'(D=!Q$E-.-B-*! ! Q$! >'('++*+! 0.-=! AY2G! 6*<*+#>:*$-7! E-'-*E!
F2A/QH!'$6!-=*!S9T9!Z*>'(-:*$-!#J!2$*(3%!FZN2H! ='<*! :#<*6! -#0'(6! ('>.6! (*$*0'1+*! *$*(3%!
.$! -=*! +'-*! O[[PE! 1*3'$! 'E! '! (*EB+-! #J! *+*D-(.D! *K>'$E.#$9! "0*$-%CJ#B(! E-'-*E! ='<*! '6#>-*6!
! :'$6'-#(%!(*$*0'1+*!*$*(3%!E-'$6'(6E7!0=.+*!J.<*!
='<*! '6#>-*6! <#+B$-'(%! E-'$6'(6E! F^H9! "=*!
#$%" &'()*++%," )-.'&/0*1+" $-&" (%%." 233%0%," (4" -." %)1524%%" 23" +$%"
<'(.'1.+.-%!#J!(*$*0'1+*!*$*(3%!3*$*('-.#$!D(*'-*E!
655*-./%"320"7'&+-*.-(5%"8.%094:";;<"=678>:"-"/2.+0-/+20"23"+$%"?7"
@2A%0.)%.+" '.,%0" <2.+0-/+" B2C" D8E6<FGEHIE@JKIFHIC"
.$-*3('-.#$! D='++*$3*E! FW7! `H9! A2GE! (*>(*E*$-! '!
6//20,*.954:" +$%" ?7" @2A%0.)%.+" -.," 678" 0%+-*." -" .2.%L/5'&*A%" $*07! J+*K.1+*! *+*D-(.D.-%! +#'67! 0=.D=! D#B+6! *$'1+*!
024-5+4E30%%"5*/%.&%"+2"1'(5*&$"20"0%102,'/%"+$%"1'(5*&$%,"320)"23"+$*&" *K>'$6*6!(*$*0'1+*!*$*(3%!3*$*('-.#$9!
/2.+0*('+*2.:"20"-552M"2+$%0&"+2",2"&2:"320"?7"@2A%0.)%.+"1'012&%&C" ! Q$J('E-(BD-B(*! -#! *$'1+*! E'J*7! *JJ.D.*$-! A2G!
D='(3.$3! '$6! D='(3*! :'$'3*:*$-! ='E! *<#+<*6!
!"
('>.6+%!.$!(*D*$-!%*'(E9!"=.E!>'>*(!EB::'(.L*E!-=*! >(#<.6.$3!3(.6!E*(<.D*E!.$!#(!#B-!#J!'!<*=.D+*9!"=*(*!
D#:>#$*$-E! #J! -=*! A2G! .$J('E-(BD-B(*! 'E! 0*++! 'E! .E!#>>#(-B$.-%!.$!'$'+%L.$3!-=*!1'--*(%!D'>'1.+.-.*E7!
D='++*$3*E!'$6!#>>#(-B$.-.*E9! >#-*$-.'+!<'+B*7!'$6!#0$*(E=.>!ED*$'(.#E9!
! !
<&3+#33&7'( ,-+$%#$'.'/"01*+$23/4401*+$2'
Q-! :'%! E**:! E.:>+*! -#! aMBE-! >+B3! .$b! A2GE9! ! "=*!>#0*(!*+*D-(#$.DE!J#(!D='(3.$3!-=*!*$*(3%!
Y#0*<*(7! J#(! -=*! A2G! :'()*-! -#! *K>'$67! '! 1(#'6! E-#('3*!E%E-*:!D#B+6!1*!#$C1#'(6!#(!#JJC1#'(6!-=*!
.$J('E-(BD-B(*! >+'$! .E! 1*.$3! 6*<*+#>*6! -#! 6*+.<*(! <*=.D+*9! Q:>(#<.$3! -=*! *JJ.D.*$D%! '$6! D#E-! #J! -=.E!
D#$EB:*(! <'+B*! '$6! E'-.EJ'D-.#$9! 2JJ*D-.<*! D#:>#$*$-! :'%! 1*! D(.-.D'+! -#! -=*! EBDD*EE! #J!
.$J('E-(BD-B(*! *$'1+*E! 3(*'-*(! BE*! #J! -=*! 1'--*(%! *+*D-(.J.*6!-('$E>#(-'-.#$9!g*.3=-!#J!#$C1#'(6!B$.-E!
-*D=$#+#3%7! 'E! E=#0$! .$! FcH7! 0=*(*! (*D='(3.$3! .E! '+E#! .:>#(-'$-9! N$C1#'(6! B$.-E! -')*! U8! >#0*(!
-=(#B3=#B-! -=*! 6'%! >(#<.6*6! '>>(#K.:'-*+%! OPd! J(#:!-=*!3(.6!'$6!(*D-.J%!.-!-#!Z8!>#0*(!-#!D='(3*!
3(*'-*(! JB*+! E'<.$3E! BE.$3! WPd! +*EE! 1'--*(%! -=*! Z8! 1'--*(%! >'D)9! NJJC1#'(6! B$.-E! :')*! -=.E!
D'>'D.-%9!eB++%!BE.$3!-=*E*!(*E#B(D*E!6*>*$6E!#$! E':*! D#$<*(E.#$! '$6! 6*+.<*(! Z8! >#0*(! -#! -=*!
-=*! J#++#0.$3! A2G! .$J('E-(BD-B(*! D#:>#$*$-E7! <*=.D+*9! 8#::B$.D'-.#$! 1*-0**$! -=*! 1'--*(%!
0=.D=!'(*!6.EDBEE*6!.$!-=*!EB1E*fB*$-!E*D-.#$E?! :'$'3*:*$-! E%E-*:! '$6! -=*! D='(3*(! :BE-! #DDB(!
! 2$*(3%!T-#('3*! -#!*$EB(*!*$*(3%!.E!6*+.<*(*6!E'J*+%9!A#0*(CfB'+.-%!
! 8='(3*(!]!N$C1#'(6@NJJC1#'(6! E-'$6'(6E! J#(! D='(3*(E! '(*! 1*.$3! 6*<*+#>*6! 0.-=!
! 8#(6E!'$6!8#$$*D-#(E! -=*! 3#'+! #J! :.$.:.L.$3! 6*-(.:*$-'+! .:>'D-E! -#! 3(.6!
! 2+*D-(.D!G*=.D+*!TB>>+%!2fB.>:*$-! #>*('-.#$9!
! U6<'$D*6!&*-*(E! ! G*=.D+*!D='(3.$3!'+E#!#JJ*(E!-=*!#>>#(-B$.-%!-#!
! Y#:*!U(*'!,*-0#()E! (*<*(E*!>#0*(!J+#0!J(#:!-=*!<*=.D+*!1'--*(%!-#!-=*!
! A'().$3!4#-E!'$6!,*.3=1#(=##6E! 3(.69! "=*! <'+B*! #J! -=.E! JB$D-.#$! :BE-! 1*! 1'+'$D*6!
0.-=! -=*! .$*JJ.D.*$D%! '$6! 1'--*(%C+.J*! .:>'D-E! #J!
! RB.+6.$3E@&B+-.CB$.-!Z0*++.$3E!!
(*<*(E*!>#0*(!J+#09!
! T:'(-!5(.6!
! 8='(3*(E! '$6! 'EE#D.'-*6! D#(6E! '(*!
! U33(*3'-.#$!U+3#(.-=:E! D'-*3#(.L*6!1%!<#+-'3*!'$6!>#0*(!+*<*+E?!4*<*+!Q!.E!
! Z.E-(.1B-*6!5*$*('-.#$@T-#('3*! OXPG! U8! B>! -#! XPU! FX9^)gH7! 4*<*+! QQ! .E! X^PG! U8!
! /*$*0'1+*!5*$*('-.#$! B>!-#!hPU!FO[9X)gH7! '$6!4*<*+!QQQ!F0=.D=!.E!%*-!-#!
! 8#::B$.D'-.#$E!U(D=.-*D-B(*! 1*!6*J.$*6!JB++%H!0.++!+.)*+%!1*!X^PG!U8!'$6!3(*'-*(!
! Q$J#(:'-.#$!"*D=$#+#3%! '-! >#0*(! +*<*+E! #J! XP]XWP)g! F[H9! Q-! .E! *K>*D-*6!
! -='-!E.:.+'(!6*J.$.-.#$E!0.++!1*!D(*'-*6!-#!D'-*3#(.L*!
!"#$%&'()*$+%#' D='(3.$3! 0.-=! Z8! >#0*(! 6*+.<*(%9! "=*! <'+B*! #J!
! g.-=! *$*(3%! E-#('3*7! 3(.6! *+*D-(.D.-%! .E! E-#(*6! *'D=!D='(3*!>#0*(!+*<*+!.E!-.*6!6.(*D-+%!-#!-=*!E.L*!
#$C1#'(6! -=*! <*=.D+*9! 2$*(3%! E-#('3*! D#:1.$*6! #J! -=*! #$C1#'(6! 1'--*(%! >'D)! '$6! -=*! -.:*!
0.-=! +.3=-0*.3=-! <*=.D+*! 6*E.3$! '$6! *JJ.D.*$-! '<'.+'1+*!J#(!(*D='(3.$39!
:#-#(E7! D(*'-*E! '! D#:>*-.-.<*! '+-*($'-.<*! -#! !
D#$<*$-.#$'+! <*=.D+*E9! 4.-=.B:C.#$! 1'--*(%! ,*$25'+"2',*""#6)*$5'
-*D=$#+#3%! .E! -=*! +.)*+%! *$*(3%CE-#('3*! D'$6.6'-*! ! Q$! -=*! >(*<.#BE! 3*$*('-.#$! #J! 2GE7! D#(6E! '$6!
J#(!$*'(C-*(:!<*=.D+*E9!! D#$$*D-#(E! 1*D':*! '! >#.$-! #J! 6*1'-*! '$6! :'6*!
! "=*! ZN2! 2$*(3%! T-#('3*! >(#3(':! .$-(#6BD-.#$! D='++*$3.$39! "#6'%7! TU2 ! ='E! +*6!
D#++'1#('-*E!0.-=!.$6BE-(%!-#!'66(*EE!+.J*7!D#E-7!'$6! *JJ#(-E! -#! E-'$6'(6.L*! '! D#$$*D-#(! J#(! D#$6BD-.<*!
E'J*-%! D='++*$3*E! #J! *$*(3%! E-#('3*! FhH9! 2$*(3%! D='(3.$3! .$! -=*! S$.-*6! T-'-*E9! "=*! TU2! iOccX!
E-#('3*! +.J*! .E! 'JJ*D-*6! 1%! D%D+.$3! (#B-.$*E! '$6! E-'$6'(6! 6*J.$*E! '! J.<*C>.$! D#$J.3B('-.#$! -='-! 0.++!
':1.*$-! E-#('3*! D#$6.-.#$E9! 8#E-! .E! 'JJ*D-*6! 1%! 1*! BE*6! J#(! 4*<*+! Q! '$6! 4*<*+! QQ! D='(3.$3! F[H9! U!
:'-*(.'+E! '$6! :'$BJ'D-B(.$3! :*-=#6E! '$6! 4*<*+! QQQ! D#$$*D-#(! '$6! -=*! BE*! #J! -=*! DB((*$-!
<#+B:*E9! T'J*-%! .E! 'JJ*D-*6! 1%! 6*E.3$7! D=*:.E-(%7! D#$$*D-#(! J#(! Z8! >#0*(! J+#0! '(*! B$6*(!
'$6!:'$BJ'D-B(.$3!:*-=#6E9! 6*<*+#>:*$-9! "(.>>.$3! ='L'(6E! 6B*! -#! D#(6E! .$!
! 2$*(3%! E-#('3*! .E! '$! *$'1+*(! #J! *+*D-(.J.*6! 3'('3*! '(*'E! '$6! >B1+.D! >+'D*E! :'%! 1*! '! E'J*-%!
-('$E>#(-'-.#$! '$6! .$-*($'-.#$'+! D#:>*-.-.#$! J#(! '$6!'6#>-.#$!=B(6+*9!!
*$*(3%CE-#('3*! :'()*-! E='(*! 0.++! *:*(3*9! "=*! !
1*E-! BE*! #J! +.:.-*6! EB>>+%! #J! 1'--*(.*E! :BE-! 1*! !7#6)$86'9#-867#'(:;;7&'!<:8;=#")'
.$<*E-.3'-*69! Z*6.D'-.$3! '! +'(3*! 1'--*(%! J#(! '! !! 2+*D-(.D! <*=.D+*! EB>>+%! *fB.>:*$-! F2GT2H!
<*=.D+*! BE*6! +*EE! -='$! #$*! =#B(! >*(! 6'%! J#(! .:>(#<*E! -=*! E'J*-%! #J! <*=.D+*! D='(3.$3! .$!
>*(E#$'+! -('<*+! :'%! +.:.-! >#-*$-.'+! 1*$*J.-E9! 4'(3*! 'DD#(6'$D*!0.-=!-=*!,'-.#$'+!2+*D-(.D!8#6*!F,28H9!
1'--*(.*E! D#B+6! >(#<.6*! '66.-.#$'+! <'+B*7! *9397! 1%! "=*! 2GT2! *$'1+*E! >#0*(! J+#0! 1*-0**$! -=*!
K"
*+*D-(.D.-%! 6.E-(.1B-.#$! E%E-*:! '$6! -=*! A2G! #$+%! >+'$$.$3! :*-=#6E! '+#$3! 0.-=! :*'EB(*:*$-! '$6!
0=*$! '! D#(6! '$6! D#$$*D-#(! '(*! D#:>+*-*+%! 1.++.$3! JB$D-.#$E! $**6! .$<*E-.3'-.#$9! U+3#(.-=:E! J#(!
D#$$*D-*69! e#(! 4*<*+! QQ! D='(3.$37! -=*! D#(6! .E! :'$'3.$3!E='(*6!(*E#B(D*E!.$!$*.3=1#(=##6E!'$6!
>*(:'$*$-+%! '--'D=*6! -#! -=*! 2GT2! '$6! .E! 6*C >'().$3! +#-E! :'%! 1*! $**6*6! 'E! :'()*-E! 6*<*+#>9!
*$*(3.L*6!0=*$!$#-!D#$$*D-*6!-#!-=*!<*=.D+*!.$+*-9! A(*<.#BE+%7! '$'+%E*E! E=#0*6! -=*! '1.+.-%! #J!
"=*! 2GT2! '$6! D='(3*(! :'%! 1*! '! E.$3+*! 3*$*('-.#$! E%E-*:E! -#! 'DD#::#6'-*! +'(3*!
D#:>#$*$-! .J! -=*! D='(3*(! .E! +#D'-*6! #JJC1#'(6! -=*! >#>B+'-.#$E!#J!<*=.D+*E!0.-=!'-!+*'E-!E#:*!'1.+.-%!-#!
<*=.D+*9! Q$! E#:*! (*3.#$E7! -=*! 2GT2! 0.++! 1*! E='>*! -=*! *$*(3%! 6*:'$6E! FOWCOhH9! 8B((*$-!
'--'D=*6! -#! #(! .$D+B6*! '! EB1C:*-*(! J#(! :*'EB(.$3! '$'+%E*E! J#DBE! #$! -=*! .:>'D-E! #$! $*.3=1#(=##6!
*+*D-(.D.-%! 6*+.<*(*6! -#! -=*! <*=.D+*! E*>'('-*! J(#:! 6.E-(.1B-.#$!E%E-*:E!FO[CX^H9!8(.-.D'+!.EEB*E!.$D+B6*!
*+*D-(.D.-%!6*+.<*(*6!-#!-=*!(*E-!#J!-=*!>(*:.E*9!"=.E! #<*(=*'-.$3! #J! -('$EJ#(:*(E! 6B*! -#! .$D(*'E*6!
J*'-B(*! EB>>#(-E! +#0CD'(1#$! JB*+! E-'$6'(6! +#'6E!'$6!D#.$D.6*$D*!#J!+#'6E!'$6!.:1'+'$D*E!.$!
'DD#B$-.$39!! -=*! -=(**C>='E*! E%E-*:9! UE! ='E! 1**$! -=*! D'E*!
! "=*!.$E-'++'-.#$!#J!'$!2GT2!.$!'!1B.+6.$3!:'%! 0.-=!Y2GE7!E*+*D-!$*.3=1#(=##6E!'(*!+.)*+%!-#!E**!
>(*E*$-!'!E.3$.J.D'$-!=B(6+*!-#!'6#>-.#$!1*D'BE*!.-! :BD=! =.3=*(! -='$! '<*('3*! A2G! 6*$E.-.*E! '$6!
.$<#+<*E!:B+-.>+*!>'(-.*E7!.$D+B6.$3!B-.+.-.*E7!1B.+6.$3! >#-*$-.'+!#<*(+#'6.$39!&B+-.>+*!<*=.D+*E!#$!'!E.$3+*!
.$E>*D-#(E7! *+*D-(.D.'$E7! '$6! <*$6#(E! FOXH9! "=*! >='E*! #J! '! -=(**C>='E*! 6.E-(.1B-.#$! E%E-*:! D#B+6!
-.:*! J(#:! >B(D='E*! -#! JB$D-.#$.$3! .$E-'++'-.#$! D'BE*! >='E*C-#C>='E*! .:1'+'$D*E! (*EB+-.$3! .$!
:.3=-! 1*! 'E! :BD=! 'E! _P! 6'%E! .$! E#:*! (*3.#$E! .$6BD*6! :'3$*-.D! J.*+6E! -='-! :'%! 'JJ*D-! -=*!
>(#<.6.$3! '! +*EE! -='$! .6*'+! *K>*(.*$D*! J#(! EB((#B$6.$3E9!S-.+.-%!>+'$$.$3!'$6!#>*('-.#$'+!6'-'!
D#$EB:*(E9! /*+'-*6! D#6*E! '$6! E-'$6'(6E! *JJ#(-E! '$'+%E.E!D#B+6!1*!BE*6!-#!>(*<*$-!>(#1+*:E9!
'(*!6.EDBEE*6!1*+#09! !
! G:8728"%53@:7)80:"8)'HC#778"%5''
>2?+"6#2'@#)#$5' ! "=*!E-(*$3-=!#J!-=*!(*+'-.#$E=.>!1*-0**$!A2GE!
! Q$<*E-:*$-! 1%! B-.+.-.*E! '$6! 3#<*($:*$-E! .$! '$6!1B.+6.$3E!'(*!E.-B'-.#$'+9!e#(!(*E.6*$-.'+!'(*'E7!
E:'(-C3(.6! -*D=$#+#3%! EB>>#(-E! -=*! .:>(#<*:*$-! =#:*!'(*'!$*-0#()E!'$6!'6<'$D*6!:*-*(E!E=#B+6!
#J!B-.+.-%!#>*('-.#$E9!U6<'$D*6!:*-*(E!'(*!+.)*+%!-#! *$'1+*! E.3$.J.D'$-! .$-*3('-.#$9! Q$! D#::*(D.'+! '$6!
1*! -=*! >(.:'(%! 'DD*EE! >#.$-! J#(! B-.+.-.*E! -#! 3'-=*(! >B1+.D! '(*'E7! 4*'6*(E=.>! .$! 2$*(3%! '$6!
.$J#(:'-.#$! #$! D#$EB:*(! BE*! '$6! -('$E:.-! 2$<.(#$:*$-'+! Z*E.3$! F422ZH! 1B.+6.$3!
.$J#(:'-.#$! -#! D#$EB:*(E! -#! '+-*(! -=*.(! 1*='<.#(9! D*(-.J.D'-.#$E!'EE.3$!<'+B*!-#!-=*!BE*!#J!'+-*($'-.<*!
U6<'$D*6! :*-*(E! '(*! $#-! (*fB.(*6! -#! *$'1+*! JB*+!<*=.D+*E9!A2G!+#'6E!:'%!$**6!-#!1*!:'$'3*6!
<*=.D+*! D='(3.$3! #(! D='(3*! :'$'3*:*$-9! -#! '<#.6! .$D(*'E*E! .$! >*')! 6*:'$6! D='(3*E9!
Y#0*<*(7!JB-B(*!A2GE!:'%!1*!-=*!:#E-!E.3$.J.D'$-! Q$$#<'-.<*!E#+B-.#$E!:'%!*K.E-!-#!.$-*3('-*!<*=.D+*!
D#$J.3B('1+*!+#'6!'DD*EE*6!1%!'6<'$D*6!:*-*(E9! E*(<.D*E! FD='(3*! '$6! 6.ED='(3*H7! 1B.+6.$3! +#'6!
! :'$'3*:*$-7!'$6!(*$*0'1+*!*$*(3%!3*$*('-.#$!-#!
A*=#'>$#+'B#)C*$D5' #>-.:.L*! -#-'+! D#E-! E'<.$3E! '$6! <'+B*! 6*+.<*(%9! U!
! Y#:*! '(*'! $*-0#()E! *$'1+*! D#$EB:*(E! -#! E.3$.J.D'$-! D='++*$3*! 0.++! 1*! >+'$$.$3! '$6!
D#++*D-! .$J#(:'-.#$! #$! '$6! :'$'3*! -=*! #>*('-.#$! D##(6.$'-.$3! 'DD*EE! -#! D='(3.$3! (*E#B(D*E9!
#J! -=*.(! =#:*E9! "=*! A2G7! 2GT27! EB1C:*-*(7! '$6! g'.-.$3! J#(! 'DD*EE! 0.++! 1*! B$'DD*>-'1+*! J#(! A2G!
-=*! '6<'$D*6! :*-*(! D#B+6! 1*! .$-*3('-*6! .$-#! -=*! DBE-#:*(E!'$6!$#$CA2G!DBE-#:*(E!'(*!+.)*+%!-#!1*!
=#:*!'(*'!$*-0#()!'+#$3!0.-=!'>>+.'$D*E7!+.3=-.$37! .((.-'-*6! 1%! B$#DDB>.*6! 1B-! (*E*(<*6! >'().$3!
'$6!=*'-.$3!'$6!D##+.$3!E%E-*:E9!"=*!=#:*!'(*'! +#D'-.#$E9! Q$E-'++'-.#$7! 'DD*EE7! 1.++.$37! '$6!
$*-0#()! .E! +.)*+%! -#! 1*! '! >(.:'(%! >#.$-! #J! :'$'3*:*$-! #J! <*=.D+*! D='(3.$3! .$! 6*$E*!
.$J#(:'-.#$! 'DD*EE! J#(! D#$EB:*(E9! U6#>-.#$! ('-*E! (*E.6*$-.'+@D#::*(D.'+!'(*'E!'(*!D='++*$3*E!-#!1*!
'(*!B$D*(-'.$9! (*E#+<*69!
! !
E+$D8"%'F*)5'+"2'B#8%-1*$-**25' (=+$)'I$82'
! Q-!.E!*K>*D-*6!-='-!:#E-!A2G!D='(3.$3!0.++!-')*! ! T:'(-! 3(.6! -*D=$#+#3.*E! #>*$! '! $*0! 6##(! J#(!
>+'D*! .$! #(! $*'(! '! >(.:'(%! (*E.6*$D*9! 8='(3.$3! .$! E%E-*:!#>-.:.L'-.#$9!"=*!E:'(-!3(.6!'++#0E!B-.+.-.*E!
0#()>+'D*!>'().$3!+#-E!.E!+.)*+%!-#!>(#<.6*!-=*!$*K-! -#! 1*--*(! B$6*(E-'$6! -=*.(! $**6E! '$6! (*E#B(D*E!
3(*'-*E-! #>>#(-B$.-%! J#(! #.+! 6.E>+'D*:*$-! FOPH9! '$6! #>-.:.L*! E%E-*:! BE*9! G'(.#BE! +*<*+E! #J!
T*<*('+!E-B6.*E!D#:>'(*!-=*!D#E-!#J!.$J('E-(BD-B(*! .:>+*:*$-'-.#$! +.)*+%! 0.++! *K.E-7! J(#:! 6'-'!
FOO7! OXH9! U! D(.-.D'+! D='++*$3*! (*+'-*6! -#! D='(3.$3! :#$.-#(.$3! '$6! (*:#-*! D#$-(#+E! -=(#B3=#B-! -=*!
#B-E.6*! -=*! =#:*! .E! :'$'3.$3! :B+-.C>'(-%! BE*! #J! *$-.(*! $*-0#()! -#! 1'E.D! 'B-#:'-.#$! #J! :*-*(!
.$J('E-(BD-B(*! >(#<.6.$3! 3(*'-*E-! D#E-C1*$*J.-! ('-.#! (*'6.$39!U+-=#B3=!E:'(-!3(.6!.:>+*:*$-'-.#$E!:'%!
-#! -=*! .$J('E-(BD-B(*! #0$*(@#>*('-#(9! Q$J('E-(BD-B(*! <'(%! (*3.#$'++%7! -=.E! -*D=$#+#3%! :'%! *$'1+*!
F"
<*=.D+*E! -#! (#':! J(#:! #$*! B-.+.-%! $*-0#()! -#! 3*#3('>=.D! 6.<*(E.-%7! D#:>B-*(! J#(*D'E-.$37!
'$#-=*(! .J! 1'E.D! .$-*(#>*('1.+.-%! E-'$6'(6E! '(*! #>*('-.#$'+! D#$-(#+E7! '$6! >+'$$*6! J+*K.1+*!
'6#>-*6!'D(#EE!1(#'6!(*3.#$E9!"=*!E:'(-!3(.6!:'%! (*E#B(D*E9! /*$*0'1+*! 3*$*('-.#$! <'(.'1.+.-%! ='E!
'+E#!*$'1+*!.$-*3('-.$3!3(*'-*(!+*<*+E!#J!(*$*0'1+*! .$-*3('-.#$! D#E-E! FW7! `7! X[H9! 2K>*(.*$D*! EB33*E-E!
*$*(3%! (*E#B(D*E! 1%! D#:1.$.$3! 3*$*('-.#$! 6'-'! -='-! 0.$6! 3*$*('-.#$! 0.++! 1*! 3(*'-*(! .$! -=*!
0.-=! +#'6C:'$'3*:*$-! >#-*$-.'+E! '$6! (*E#B(D*! *<*$.$3E! '$6! '-! =.3=! >*$*-('-.#$E! .-! D#$J+.D-E! 0.-=!
>+'$$.$39! :.$.:B:! #B->B-! +*<*+E! #J! J#EE.+! >#0*(! >+'$-E9! U!
! E.3$.J.D'$-! ':#B$-! #J! *$*(3%! J#(! A2GE! 0.++! 1*!
>%%$#%+)8*"'>7%*$8)-=5' $**6*6!'-!$.3=-7!0=.D=!=*+>E!'66(*EE!0.$6!*$*(3%!
! U33(*3'-.#$! E*(<.D*E! D#++*D-! '! 6.<*(E*! #(! .$-*3('-.#$! D='++*$3*E9! "=*! (*E>#$E*! -.:*! #J!
D#::#$! E*-! #J! <*=.D+*! +#'6E! -#! D(*'-*! '! :#(*! 1'--*(.*E! '$6! D='(3*(E! -#! +#'6C:'$'3*:*$-!
6*E.('1+*! +#'69! "=.E! .E! '! $*0! '$6! *<#+<.$3! '(*'9! D#::'$6E!E=#B+6!1*!:BD=!+*EE!-='$!#$*!:.$B-*7!
/*E*'(D=! 1%! -=*! ,'-.#$'+! /*$*0'1+*! 2$*(3%! 0=.D=!.E!J'E-*(!-='$!$*'(+%!'++!J+*K.1+*!(*E#B(D*E!.$!
4'1#('-#(%7! jD*+! 2$*(3%7! '$6! 5(.6>#.$-! FJ#(:*(+%! -=*! 3(.6! -#6'%9! T-'-*! /*$*0'1+*! A#(-J#+.#!
GX5(**$H! 6*:#$E-('-*6! .$.-.'+! '33(*3'-.#$! T-'$6'(6E!E*-!3#'+E!J#(!(*$*0'1+*!.$-*3('-.#$7!'$6!
'+3#(.-=:E! .$! J.*+6! -*E-E! FO^H9! Z*$=#+:! '$6! -=*!>'('++*+E!1*-0**$!-=*E*!E-'$6'(6E!'$6!<*=.D+*!
T.#E='$E.! '$'+%L*6! <*=.D+*! J+**-E! .$! -=*! 2+*D-(.D! .$-(#6BD-.#$E!.E!'$!'(*'!:*(.-.$3!JB(-=*(!E-B6%9!
/*+.'1.+.-%!8#B$D.+!#J!"*K'E!F2/8N"H!(*3.#$!B$6*(! !
B-.+.-%! :'$'3*:*$-! .$! '33(*3'-*7! =.3=+.3=-.$3! -=*! ,*==:"86+)8*"5'>$6-8)#6):$#'
JB*+! E'<.$3E! '$6! *:.EE.#$E! 1*$*J.-E! FXWH9! N-=*(E7! ! 8#::B$.D'-.#$E! '(D=.-*D-B(*! ='E! 1**$! '!
.$D+B6.$3! 2$*($#D! '$6! -=*! &U5Q8! 8#$E#(-.B:7! E-(#$3! D#:>#$*$-! #J! *D#$#:.D! 3(#0-=! .$! -=*! ST!
='<*! 1*3B$! -#! *K>+#(*! '33(*3'-.#$! #J! +#'6E! '$6! E.$D*! -=*! .$-(#6BD-.#$! #J! :.D(#>(#D*EE#(E! .$! -=*!
E#B(D*E! -#! >(#<.6*! 3(.6! E*(<.D*E9! U33(*3'-.#$! cPkE!F_PH9!Q-!.E!-=*!>=%E.D'+!1'D)1#$*!-='-!*$'1+*E!
'+3#(.-=:E! 0.++! 1*! (*J.$*6! 'E! #>*('-.#$'+! 6'-'! .E! 1BE.$*EE! -#! JB$D-.#$! -#6'%9! S9T9! D#::B$.D'-.#$E!
D#++*D-*69! U! (*D*$-! (*>#(-! 1%! QTN@/"N! 8#B$D.+! '(D=.-*D-B(*! >(#<.6*E! -=*! #>>#(-B$.-%! J#(! A2GE! -#!
=.3=+.3=-E! '33(*3'-.#$! #J! <*=.D+*! +#'6E! 'E! '! 1*! '$! 'D-.<*! >'(-.D.>'$-! .$! -=*! JB-B(*! 3(.69! TU2!
$*D*EE'(%! E-*>! -#! *$-*(! $*'(+%! '++! 3(.6! E*(<.D*! E-'$6'(6E!3(#B>E!'(*!6*<*+#>.$3!-=*!*K>*D-'-.#$E!
:'()*-E7! 0=.D=! 0#B+6! *K-*$6! -=*! <'+B*! #J! -=*! '$6! .:>+*:*$-'-.#$! :*-=#6E! -#! *$'1+*! A2G!
<*=.D+*E! 1*%#$6! MBE-! #.+! 6.E>+'D*:*$-! FX`H9! D#::B$.D'-.#$9! "=*! .$J#(:'-.#$! -#! 1*! >'EE*6! .E!
A(#+.J*('-.#$! #J! '33(*3'-.#$! :'%! 1*! =.3=+%! D(.-.D'+! 0=.+*! -=*! >=%E.D'+! :*'$E! 1%! 0=.D=! .-! .E!
6*>*$6*$-! #$! D#$EB:*(! :#$*-'(%! #(! >*(D*.<*6! >'EE*6!.E!+*EE!D(.-.D'+!'E!+#$3!'E!.$-*(#>*('1.+.-%!.E!
<'+B*9! U33(*3'-.#$! #J! 6.<*(E*! +#'6E! >(#<.6*E! -=*! *$EB(*69! "=*! $**6! J#(! E*DB(.-%! J*'-B(*E! 0.++!
J+*K.1.+.-%! $*D*EE'(%! -#! 6*+.<*(! >*(D*.<*6! <'+B*! #J! 1*D#:*! :#(*! .:>#(-'$-! 'E! B-.+.-.*E! 1'E*!
6*6.D'-*6!\3(**$\!*$*(3%!EB>>+.*E!-#!<*=.D+*E9! #>*('-.#$'+! 6*D.E.#$E! #$! .$J#(:'-.#$! -('$EJ*((*6!
! #<*(!D#::B$.D'-.#$E!$*-0#()E9!
H85)$81:)#2'I#"#$+)8*"3()*$+%#' !
! Z.E-(.1B-*6! E-#('3*! E%E-*:E! -='-! 6%$':.D'++%! K"4*$=+)8*"'L#6-"*7*%&'
'33(*3'-*! '$6! J.+-*(! '! D#++*D-.#$! #J! +#'6EIEBD=! ! Q$J#(:'-.#$! -*D=$#+#3%! .E! $**6*6! -#! :'$'3*!
-='-! -=*! D#++*D-*6! +#'6! .E! E:##-=7! D#$E.E-*$-7! '$6! -=*! :#<*:*$-! #J! 6'-'! 1*-0**$! >'(-.*E! '$6! -#!
(*>*'-'1+*I'.6! .$! -=*! *JJ.D.*$-! '$6! D#E-C*JJ*D-.<*! -('$EJ#(:! -=*E*! 6'-'! .$-#! )$#0+*63*! '$6!
6*+.<*(%! #J! *+*D-(.D.-%9! 2+*D-(#D=*:.D'+! *$*(3%C 6*D.E.#$E9! "=*! D#:>B-'-.#$'+! >#0*(! $**6*6! -#!
E-#('3*!-*D=$#+#3.*E7!EBD=!'E!A2G!1'--*(.*E7!='<*! :'$'3*!-=*!T:'(-!5(.6!-#!.-E!JB++*E-!*K-*$-!='E!%*-!
$#-! %*-! 1**$! D#E-! *JJ*D-.<*! J#(! 3(.6! '>>+.D'-.#$E9! -#! 1*! 6*-*(:.$*69! 8(*'-.$3! '! :B+-.+'%*(*6!
&'()*-! *K>'$E.#$! D#B+6! 1*$*J.-! <*=.D+*! '$6! 3(.6! #>*('-.#$'+! $*-0#()! BE.$3! *:1*66*6! E%E-*:E!
#>*('-.#$E! .J! D#::#$! *$*(3%CE-#('3*! '--(.1B-*E! :'%!>(#<.6*!'!(#1BE-7!*JJ.D.*$-7!J+*K.1+*7!(*E>#$E.<*!
'(*!.6*$-.J.*6!E#!-='-!>(#6BD-.#$!<#+B:*E!D#B+6!1*! E%E-*:!(*+'-.<*!-#!-=*!D*$-('++%!:'$'3*6!'>>(#'D=!
.$D(*'E*69! "=*! 0#()! #J! U:*(.D'$! 2+*D-(.D! A#0*(! BE*6!-#6'%9!
FU2AH!#$!D#::B$.-%!*$*(3%!E-#('3*!'$6!T#B-=*($! (
8'+.J#($.'! 26.E#$! FT82H! #$! -=*! a3'('3*! #J! -=*! 6#,#-*(=+*'2-&73(
JB-B(*b! '(*! D#$E.E-*$-! 0.-=! 6*<*+#>.$3! "=*! .$J('E-(BD-B(*! D#:>#$*$-E! 6.EDBEE*6!
D#:>+*:*$-'(%! :'()*-E! J#(! *$*(3%! E-#('3*! .$! '1#<*!EB::'(.L*!-=*!E-'-BE!'$6!>#-*$-.'+!#J!$*'(C
:#1.+*!'$6!E-'-.#$'(%!'>>+.D'-.#$E!FXc7!XhH9! -*(:! A2G! .:>+*:*$-'-.#$9! "=*E*! D#:>#$*$-E!
! D#B+6! 1*! .$-*3('-*6! 0.-=! '66.-.#$'+! ED*$'(.#E9!
J#"#C+17#'I#"#$+)8*"' 4.3=-0*.3=-.$3!#J!A2G!E%E-*:E!D#B+6!#>-.:.L*!-=*!
! "=*! <'(.'1.+.-%! #J! (*$*0'1+*! *+*D-(.D.-%! BE*! #J! '! +.:.-*6! EB>>+%! #J! *$*(3%CE-#('3*!
3*$*('-.#$!.E!:'$'3*6!.$!:B+-.>+*!0'%E7!.$D+B6.$3! -*D=$#+#3%!F_PH9!Q$-*++.3*$-!-('$E>#(-'-.#$!$*-0#()E!
N"
0.-=! (#'60'%C-#C<*=.D+*! '$6! <*=.D+*C-#C<*=.D+*! D='++*$3*! (*+'-*6! -#! D#6*E! '$6! E-'$6'(6E! .E! -=*!
D#::B$.D'-.#$! :'%! (*6BD*! D#$3*E-.#$! '$6! D##(6.$'-.#$!#J!'D-.<.-.*E!'D(#EE!:B+-.>+*!E-'$6'(6E!
.$D(*'E*! E'J*-%9! A+*$-.JB+! '$6! E.:>+*! <*=.D+*C 1#6.*E!'$6!.$6BE-(.*E9!
D='(3.$3! .$J('E-(BD-B(*! EB>>#(-E! -=*! *<#+B-.#$! #J! !
D'(! E='(.$3! '$6! *$'1+*E! E:##-=! -('$E.-.#$E! J*+=8"%'
1*-0**$! :B+-.C:#6'+! E%E-*:E9! N-=*(! ED*$'(.#E! ! \/#':.$3\! #J! A2GE! .E! .:>#(-'$-! J#(! 1B.+6.$3!
.$D+B6*! (#'60'%! >#0*(! 6*+.<*(%! F_XH! '$6! 0.(*+*EE! D#$EB:*(! E'-.EJ'D-.#$! '$6! D#$J.6*$D*9! g.-=! :#(*!
>#0*(!6*+.<*(%!F__H9! -='$! _7PPP! S9T9! B-.+.-.*E7! D#$EB:*(E! +.)*+%! 0.++!
! .$-*(J'D*! 0.-=! :B+-.>+*! B-.+.-.*E! 0=*$! D='(3.$3!
=>3,*?(0',*$-2,&7'(2'8(0',*-7:*-2;&"&,>( A2GE!#B-E.6*!-=*.(!=#:*E9!"=*!D#E-E!'$6!#>-.#$E!
Q$-*(#>*('1.+.-%! #J! A2G! .$J('E-(BD-B(*! J#(! D='(3.$3! '-! =#:*! <*(EBE! (#':.$3! :'%! <'(%!
D#:>#$*$-E! .E! D(.-.D'+! J#(! 0.6*E>(*'6! 6*>+#%:*$-! E.3$.J.D'$-+%9! "=*(*! '(*! >'('++*+E! 0.-=! -=*! *'(+%!
#J! A2GE! -=BE! *$'1+.$3! $*0! 1BE.$*EE*E! '$6! M#1E9! .$-(#6BD-.#$! #J! :#1.+*! >=#$*E9! g=*$! (#':.$37!
&B+-.>+*! E-'$6'(6E! *$-.-.*E! '(*! J#DBE.$3! #$! D#$EB:*(E! *$D#B$-*(*6! =.3=! D#E-E! '$6! E*(<.D*!
6*<*+#>.$3!D#6*E!'$6!E-'$6'(6E!EB>>#(-.$3!A2GE! J(BE-('-.#$E! B$-.+! -=*! $*-0#()! '$6! D#$-('D-B'+!
'$6!3(.6!.$-*3('-.#$9!R+')*!*-9!'+9!EB::'(.L*!D#6*E! (*+'-.#$E=.>E! *<#+<*69! U+-=#B3=! .-! :'%! 1*! +*EE!
'$6! E-'$6'(6E! 'EE#D.'-*6! 0.-=! '+-*($'-.<*! JB*+! E.3$.J.D'$-! J#(! AY2GE7! 0=.D=! ='<*! '$! Q82! J#(!
<*=.D+*E! F_^H7! '$6! FOX7! X`H! EB::'(.L*! E-'$6'(6E! *K-*$6*6! 6(.<.$3! '$6! 0.++! 3*-! D='(3*6! :#E-! #J-*$!
(*+'-*6! -#! 3(.6! .$-*3('-.#$! '$6! JB-B(*! E*(<.D*! '-! =#:*7! :'()*-! .$-(#6BD-.#$! #J! A2GE! .$! 3*$*('+!
#>-.#$E9! T*+*D-! E-'$6'(6E! 'D-.<.-.*E! (*+'-*6! -#! D#B+6!1*!=':>*(*6!1%!(#':.$3!>(#1+*:E9!
.$J('E-(BD-B(*!'(*!6.EDBEE*6!1*+#09! !
Q$! -=*! S$.-*6! T-'-*E7! TU2! .E! D(*'-.$3! 0'1-23,-#+,#-*(@/2""*'$*3(2'8(A::7-,#'&,&*3(
E-'$6'(6E! 6*J.$.$3! -=*! D#$$*D-.#$! >#.$-E! '$6! ! &'$%! #J! -=*! D='++*$3*E! -#! A2G! .$J('E-(BD-B(*!
.$-*(#>*('1.+.-%! #J! A2GE! 0.-=! -=*! (*E-! #J! -=*! '(*! >(*E*$-*6! '1#<*9! "=*! >(.:'(%! D='++*$3*! .E!
.$J('E-(BD-B(*9! TU2! iOccX! 6*J.$*E! -=*! E-'$6'(6! D#:>#$*$-! .$-*(#>*('1.+.-%! 0.-=.$! -=*! E%E-*:7!
D#$$*D-#(! -#! 1*! BE*6! 1*-0**$! -=*! A2G! '$6! 0=.D=! E-'$6'(6E! 1#6.*E! '(*! '66(*EE.$39!
.$J('E-(BD-B(*! J#(! D#$6BD-.<*! >#0*(! 6*+.<*(%9! TU2! 8##(6.$'-.#$! 0.-=! .$-*($'-.#$'+! *$-.-.*E! .E! '$#-=*(!
iXh_`!6*J.$*E!BE'3*!ED*$'(.#E!#J!A2GE!0.-=!B-.+.-%! .EEB*l! EBDD*EEJB+! D##(6.$'-.#$! 0#B+6! +#0*(! -=*!
>(#3(':E! '$6! iXh^c! 6*J.$*E! -=*! D#::B$.D'-.#$! D#E-! #J! :'()*-! *K>'$E.#$! 1%! >(#<.6.$3!
:*EE'3*! D#$-*$-! '$6! E-(BD-B(*! 1*-0**$! A2GE! :'$BJ'D-B(*(E! 0.-=! 3(*'-*(! <#+B:*E! #J! D#$E.E-*$-!
'$6! -=*! 3(.69! "#3*-=*(! -=*E*! D(*'-*! '! 1'E.E! J#(! >(#6BD-E9!!
.$-*(#>*('1.+.-%9! TU2! iXh[^! .E! 1*.$3! 6*<*+#>*6! -#! Z*<*+#>.$3!'!A2G!.$J('E-(BD-B(*!'+E#!>(*E*$-E!
6*J.$*!>#0*(CfB'+.-%!(*fB.(*:*$-E!J#(!D='(3*(E9!! #>>#(-B$.-.*E9! 2$*(3%! E-#('3*! -*D=$#+#3%! .E! -=*!
T-'$6'(6E! '$6! -*E-.$3! #(3'$.L'-.#$EI JB$6':*$-'+! *+*:*$-! $**6*6! J#(! A2G! :'()*-!
.$D+B6.$3! -=*! ,'-.#$'+! Q$E-.-B-*! #J! T-'$6'(6E! '$6! *<#+B-.#$9! g=.+*! =.3=! 1'--*(%! D#E-E! +.:.-! :'()*-!
"*D=$#+#3%7! S$6*(0(.-*(E! 4'1#('-#(.*E7! '$6! >*$*-('-.#$7! .6*$-.J%.$3! :B+-.C<'+B*! E-(*':!
,'-.#$'+!e.(*!A(#-*D-.#$!U3*$D%I'(*!D#++'1#('-.$3! >'-=0'%E! J#(! A2G! *$*(3%! E-#('3*! .E! .:>#(-'$-9!
-#! 6*J.$*! 3(.6! E'J*-%! '$6! .$-*3('-.#$! :*-=#6E9! "=*!>'('++*+!3(#0-=!#J!(*$*0'1+*!*$*(3%!>(#<.6*E!
Q222!='E!6*<*+#>*6!Q222!OW^c7!'$6!.E!0#().$3!#$! $*0! .$-*3('-.#$! #>>#(-B$.-.*E! J#(! J+*K.1+*!
AXP_P7! -#! 6*J.$*! .$-*(#>*('1.+.-%! J#(! 6.E-(.1B-*6! (*E#B(D*E9! A2GE! :'%! 1*! '! EB.-'1+*! J+*K.1+*!
3*$*('-.#$! '$6! +#'6E! '+#$3! 0.-=! D#::B$.D'-.#$! (*E#B(D*!1*D'BE*!#J!-=*.(!J'E-!(*E>#$E*!'$6!1(#'6!
E-'$6'(6E! 1*-0**$! -=*E*! D#:>#$*$-E! '$6! -=*! 0.$6#0! #J! #>>#(-B$.-%! J#(! D='(3.$39! 8='(3.$3!
T:'(-!5(.69!2A/QkE!Q$J('E-(BD-B(*!g#().$3!8#B$D.+! >'--*($E!0.++!6*>*$6!#$!D#$EB:*(!1*='<.#(7!0=.D=!
J'D.+.-'-*E! D##(6.$'-.#$! ':#$3! .$6BE-(%7! D'$!1*!'EE*EE*6!'$6!.$J+B*$D*6!<.'!-=*!E:'(-!3(.6!
3#<*($:*$-7!'$6!E-'$6'(6!3(#B>E9! '$6!>(*6.D-.<*C1*='<.#(!-##+E9!
Q$! 2B(#>*7! -=*! Q$-*($'-.#$'+! 2+*D-(#-*D=$.D'+! e.$'++%7! -=*(*! .E! #>>#(-B$.-%! -#! 6*-*(:.$*! =#0!
8#::.EE.#$! FQ28H! '$6! Q$-*($'-.#$'+! N(3'$.L'-.#$! 8NXC!'$6!#.+C6.E>+'D*:*$-!D(*6.-E!0.++!1*!'++#D'-*6!
J#(! T-'$6'(6.L'-.#$! FQTNH! 1#6.*E! +*'6! -=*! -#! A2GEl! -=.E! -#>.D! .E! $#-! D#<*(*6! '6*fB'-*+%! .$!
6*<*+#>:*$-!#J!E-'$6'(6E!J#(!A2GE9!Q$!i'>'$7!-=*! -=*! DB((*$-! +.-*('-B(*9! TB1C:*-*(.$3! *JJ#(-E! .$!
i'>'$! UB-#:#1.+*! /*E*'(D=! Q$E-.-B-*! FiU/QH! .E! 8'+.J#($.'! '(*! *E-'1+.E=.$3! -=*! 6'-'CD#++*D-.#$!
6*<*+#>.$3! 3B.6*+.$*E! '$6! E-'$6'(6E! J#(! :*-=#6E! J#(! <*(.J%.$3! *+*D-(.D'+! *$*(3%! 6*+.<*(%!
.$-*3('-.#$! #J! <*=.D+*E9! "=*! 6*<*+#>:*$-! #J! '$6!D#$EB:>-.#$!1%!<*=.D+*E9!U$!,/Z8@2A/Q!F_WH!
0#(+60.6*! E-'$6'(6E! J#(! D#$$*D-#(E7! #>*('-.#$'+! (*>#(-! =.3=+.3=-E! -=*! (*+'-.<*! 8NX! .:>'D-E! #J! -=*!
ED*$'(.#E7! '$6! .$J#(:'-.#$! -('$EJ*(! 0#B+6! 1*! E#B(D*! #J! *+*D-(.D.-%! BE*6! J#(! A2GE9! U+-=#B3=! -=*!
1*$*J.D.'+9! 8##(6.$'-.#$! 0.-=! .$-*($'-.#$'+! *$-.-.*E! *$*(3%! 6*+.<*(*6! -#! '! A2G! :'%! $#-! ='<*! 1**$!
.E! '! =.3=! >(.#(.-%! J#(! ZN29! "=*! :#E-! E.3$.J.D'$-! 3*$*('-*6! 6.(*D-+%! 1%! '! (*$*0'1+*! E#B(D*7! .J! .-E!
O"
J+*K.1.+.-%! .$! #>*('-.#$! *$'1+*E! *K>'$E.#$! #J! SE.$3! 2$='$D*6! 8='(3.$3! TD*$'(.#E9b! 2GTC
(*$*0'1+*! E#B(D*E! '-! '! +#0*(! D#E-! #J! .$-*3('-.#$7! X^!,/24@8ACW^PC^Wc_P9!&'%7!XPP[9!
-=*$!-=*(*!.E!'!EB1E-'$-.'+!8NX!.:>'D-9!! h9! aXPP[! U$$B'+! A(#3(*EE! /*>#(-! C! 2$*(3%!
( T-#('3*! /*E*'(D=! '$6! Z*<*+#>:*$-9b!
@7'+"#3&7'( =-->?@@000O9**(*9*$*(3%93#<@<*=.D+*E'$6JB*+E@
! "=*! D#$J+B*$D*! #J! 1'--*(%! -*D=$#+#3%! >6JE@>(#3(':@XPP[o*$*(3%oE-#('3*9>6J9!
6*<*+#>:*$-E7! #.+! >(.D*E! '$6! >(.D*! <#+'-.+.-%7! UDD*EE*6!&'(D=!_O7!XPOP9!
(*$*0'1+*! 3*$*('-.#$! '$6! .$-*3('-.#$! -*D=$#+#3%7! [9! aTU2! 2+*D-(.D! G*=.D+*! '$6! A+B3! .$! Y%1(.6!
'$6!*$<.(#$:*$-'+!D#$D*($E!.E!B$.-.$3!3#<*($:*$-! 2+*D-(.D! G*=.D+*! 8#$6BD-.<*! 8#B>+*(9b! TU2!
'$6!.$6BE-(%!1*=.$6!'!-('$E.-.#$!-#!'!-('$E>#(-'-.#$! iOccX9!i'$!XPOP9!
E%E-*:! -='-! 6#*E! $#-! 6*>*$6! #$! #.+9! A2G! OP9! "'-*7! 29l! T'<'3.'$7! A9! a"=*! 8NX! R*$*J.-E! #J!
.$J('E-(BD-B(*! 0.++! -('$EJ#(:! =#0! *$*(3%! .E! 2+*D-(.J.D'-.#$! 2C/*<E7! AY2GE! '$6! 8='(3.$3!
6*+.<*(*6!-#!<*=.D+*E9!"=*!.$J('E-(BD-B(*!-#!EB>>#(-! TD*$'(.#E9b!TU2!XPP[CPOCO_OO9!XPP[9!!
-=*! .$-(#6BD-.#$! #J! A2GE! .E! :BD=! :#(*! D#:>+*K! OO9! &#((#0! n9l! n'($*(! Z9l! e('$DJ#(-7! i9! aA+B3C.$!
-='$! '$! *K-*$E.#$! D#(6! '$6! #B-+*-! 'E! >(*<.#BE+%! Y%1(.6!2+*D-(.D!G*=.D+*!8='(3.$3!Q$J('E-(BD-B(*!
'EEB:*69! A2GE! 0.++! D#$$*D-! -#! -=*! $*0! /*<.*09b!,#<!XPPh9!
-('$E>#(-'-.#$! E%E-*:! -=(#B3=! :'$%7! %*-C-#C1*C OX9! a2+*D-(.D! G*=.D+*! 8='(3.$3! Q$J('E-(BD-B(*!
6*<*+#>*6! .$J('E-(BD-B(*! D#:>#$*$-E! J#(:.$3! '! Z*>+#%:*$-!5B.6*+.$*E!R(.-.E=!8#+B:1.'9b!!R8!
J#B$6'-.#$!J#(!'$!*+*D-(.J.*6!-('$E>#(-'-.#$!E%E-*:9! Y%6(#9!iB+%!XPP[9!!
Q$-*(#>*('1.+.-%!#J!-=*E*!D#:>#$*$-E!.E!'!D#(*!(#+*! O_9! A*E'('$7!U9l!&'()*+7!"9l!"'-'(.'7!Y9T9l!Y#0*++7!
#J! ZN27! $'-.#$'+! +'1#('-#(.*E7! .$6BE-(%7! '$6! Z9! aR'--*(%! /*fB.(*:*$-E! J#(! A+B3CQ$! Y%1(.6!
E-'$6'(6E! #(3'$.L'-.#$E9! Q$-*($'-.#$'+! 2+*D-(.D! G*=.D+*E?! U$'+%E.E! '$6! /'-.#$'+*9b!
D#++'1#('-.#$!E=#B+6!'DD*+*('-*!:'()*-!*K>'$E.#$9! 2GTCX_7!,/24@8ACW^PC^XX^P9!Z*D7!XPPc!
"=*! D='++*$3*! -#! 6*<*+#>! '! (#1BE-7! J+*K.1+*7! O^9! "9! &'()*+7! n9! R*$$.#$7! g9! n(':*(7! i9! R(%'$7!
(*$*0'1+*7! +#0CD#E-! E%E-*:! J#(! <*=.D+*! *$*(3%! '$6! i9! 5.*669! ae.*+6! "*E-.$3! A+B3C.$! Y%1(.6!
6*+.<*(%! 0=.+*! >(#<.6.$3! D#$J.6*$D*7! D#:J#(-7! '$6! 2+*D-(.D! G*=.D+*E! 0.-=! 8='(3*! 8#$-(#+!
<'+B*! -#! -=*! D#$EB:*(! 0.++! J#(:! -=*! D#(*! #J! "*D=$#+#3%! .$! -=*! jD*+! 2$*(3%! "*((.-#(%b!
(*E*'(D=!>(#3(':E!#<*(!-=*!D#:.$3!%*'(E9! ,/24@"ACWWPC^`_^W9!UB3BE-!XPP[9!
( OW9! &9! TD#--7! &9! n.$-$*(C&*%*(7! Z9! 2++.#--7! g9!
B*1*-*'+*3( g'(0.D)9! aQ:>'D-E! UEE*EE:*$-! #J! A+B3CQ$!
O9! ZB<'++7! &9! a8#:>'(.$3! -=*! R*$*J.-E! '$6! Y%1(.6! G*=.D+*E! #$! 2+*D-(.D! S-.+.-.*E! '$6!
Q:>'D-E! #J! Y%1(.6! 2+*D-(.D! G*=.D+*!N>-.#$E! J#(! /*3.#$'+! S9T9! A#0*(! 5(.6E?! A'(-! O?! "*D=$.D'+!
8#:>'D-! T*6'$! '$6! T>#(-! S-.+.-%! G*=.D+*E9b! UEE*EE:*$-9b!,#<7!XPPc9!
2A/Q!/*>#(-!mOPP`h[X9!iB+%!XPPX9! O`9! &9! TD#--7! &9! n.$-$*(C&*%*(7! Z9! 2++.#--7! g9!
X9! 29! "'-*7! &9! Y'(>E-*(7! A9! T'<'3.'$9! a"=*! g'(0.D)9! aQ:>'D-E! UEE*EE:*$-! #J! A+B3CQ$!
2+*D-(.J.D'-.#$! #J! -=*! UB-#:#1.+*?! e(#:! Y%1(.6! G*=.D+*E! #$! 2+*D-(.D! S-.+.-.*E! '$6!
8#$<*$-.#$'+! Y%1(.67! -#! A+B3C.$! Y%1(.6E7! -#! /*3.#$'+!S9T9!A#0*(!5(.6E?!A'(-!X?!2D#$#:.D!
2K-*$6*6C/'$3*! 2+*D-(.D! G*=.D+*Eb9! TU2! UEE*EE:*$-9b!,#<7!XPPc9!
XPPhCPOCP^Wh9! Oc9! T-'$-#$! g9! Y'6+*%! U+*K'$6('! "E<*-)#<'!
_9! A*E'('$7!U9l!&'()*+7!"9l!"'-'(.'7!Y9T9l!Y#0*++7! aA#-*$-.'+! Q:>'D-E! #J! A+B3C.$! Y%1(.6! 2+*D-(.D!
Z9! aR'--*(%! /*fB.(*:*$-E! J#(! A+B3CQ$! Y%1(.6! G*=.D+*E! #$! /*3.#$'+! A#0*(! 5*$*('-.#$9b!
2+*D-(.D! G*=.D+*E?! U$'+%E.E! '$6! /'-.#$'+*9b! N/,4@"&CXPPc@OWP9!i'$9!XPPh9!
2GTCX_!Z*D9!XPPc9! Oh9! A'()E7!n9l!Z*$=#+:7!A9l!&'()*+7!"9!a8#E-E!'$6!
^9! Z'-'1'E*! #J! T-'-*! Q$D*$-.<*E! J#(! /*$*0'1+*! 2:.EE.#$E! UEE#D.'-*6! 0.-=! A+B3CQ$! Y%1(.6!
2$*(3%9! =-->?@@00096E.(*BE'9#(3@9! UDD*EE*6! 2+*D-(.D! G*=.D+*! 8='(3.$3! .$! -=*! jD*+! 2$*(3%!
&'(!_P7!XPOP9! 8#+#('6#!T*(<.D*!"*((.-#(%9b!,/24!/*>#(-!,#9!
W9! Z9!4*0l!&9!&.++.3'$l!59!i#(6'$l!49!e(**:'$l!,9! "AC`^PCÔÔP9!XPP[9!!
&.++*(l! n9! 8+'()l! /9! A.0)#9! aY#0! 6#! g.$6! '$6! O[9! "'%+#(9! i9l! &'.-('7! U9l! U+*K'$6*(7! &9l! R(##)E7!
T#+'(! A#0*(! UJJ*D-! 5(.6! N>*('-.#$E?! "=*! Z9l! ZB<'++7! &97! a2<'+B'-.#$! #J! -=*! Q:>'D-! #J!
g*E-*($! g.$6! '$6! T#+'(! Q$-*3('-.#$! T-B6%9b! A+B3C.$! 2+*D-(.D! G*=.D+*! 4#'6.$3! #$!
,/24@8ACWWPC^`WOc9!T*>-!XPP[9! Z.E-(.1B-.#$! T%E-*:! N>*('-.#$E9b! 0009!
`9! Z9! 8#(1BE9! b2'E-*($! g.$6! Q$-*3('-.#$! '$6! UDD*EE*6!&'(D=!X`7!XPOP9!
"('$E:.EE.#$! T-B6%9b! ,/24@T/CWWPC^cPch! XP9! 8'(':'$.E7! &9l! e#E-*(7! i9&9! a&'$'3*:*$-! #J!
i'$!XPOP9! *+*D-(.D! G*=.D+*! 8='(3.$3! -#! &.-.3'-*!
c9! &'()*+7! "9l! T:.-=7! n9l! A*E'('$7! U9! aQ:>(#<.$3! /*$*0'1+*! 5*$*('-.#$! Q$-*(:.--*$D%! '$6!
-=
A*-(#+*B:! Z.E>+'D*:*$-! A#-*$-.'+! #J! AY2GE! Z.E-(.1B-.#$! ,*-0#()! 8#$3*E-.#$9b! ^h ! Q222!
G"
8#$J*(*$D*! #$! Z*D.E.#$! '$6! 8#$-(#+9! B*37#-+*3(17-(C7-*(0'17-?2,&7'(
T='$3='.7!8=.$'9!Z*D!XPP[9! ! a2+*D-(.D! G*=.D+*! Q$J('E-(BD-B(*! Q$E-'++'-.#$!
XO9! Z%)*7! n9l! TD=#J.*+67! ,9l! R'($*E7! &9! a"=*! 5B.6*9b!A'D.J.D!5'E!'$6!2+*D-(.D9!&'(D=!O[[[9!
Q:>'D-!#J!"('$E>#(-!2+*D-(.J.D'-.#$!#$!2+*D-(.D'+! ! "=#:>E#$7! /9! aAB1+.D! p! Y#:*! 8='(3.$3! J#(!
,*-0#()E9b!Q222!P[C"Q2CP[XO9!! AY2G!'$6!.-E!Q:>'D-!#$!Q$J('E-(BD-B(*9b!2'-#$9!
XX9! YB-E#$7! 89l! G*$'%'3':##(-=%7! 59n9l! 8#(L.$*7! A+B3C.$!XPP[!g#()E=#>9!
n9U9! aQ$-*++.3*$-! TD=*6B+.$3! #J! Y%1(.6! '$6! ! &'()*+7! "9l! nBEE7! &9l! Z*$=#+:7! A9!
2+*D-(.D!G*=.D+*!T-#('3*!8'>'D.-%!.$!'!A'().$3! a8#::B$.D'-.#$! '$6! 8#$-(#+! #J! 2+*D-(.D!
4#-! J#(! A(#J.-! &'K.:.L'-.#$! .$! 5(.6! A#0*(! G*=.D+*E! TB>>#(-.$3! /*$*0'1+*E9b! ,/24!
"('$E'D-.#$E9b!Q222!2$*(3%!XP_P9!,#<9!XPPh9! /*>#(-!,#9!8ACW^PC^`XX^9!XPP[9!
X_9! nBEE7! &97! &'()*+7! "9l! n(':*(7! R9! aZ.E-(.1B-.#$! ! a2+*D-(.J.D'-.#$! /#'6:'>9b! 2+*D-(.J.D'-.#$!
"('$EJ#(:*(!4.J*!Q:>'D-E!J(#:!A+B3C.$!G*=.D+*! 8#'+.-.#$9!,#<9!XPP[!
8='(3.$3!4#'6E9b!Q$!>(#D*EE9!&'(D=!XPOP9! ! ZB<'++7! &9! a8+*<*+'$6! "('$E>#(-'-.#$!
X^9! T='#7!T9l!A.>'--'$'$E#:>#($7!&9l!/'=:'$7!T9! 2+*D-(.J.D'-.#$! /#'6:'>9b! 2A/Q! POPOhWc[9!
a8='++*$3*E! #J! AY2G! A*$*-('-.#$! -#! -=*! iB+%!XPP[9!
/*E.6*$-.'+!Z.E-(.1B-.#$!,*-0#()9b! ! N($*+'E7! 29! aR'E.DE! #J! 2+*D-(.D! G*=.D+*!
XW9! T.#E='$E.7! /9l! Z*$=#+:7! A9! a2:.EE.#$E! 8='(3.$39b! R'%! U(*'! 2G! 8#((.6#(! AB1+.DC
Q:>'D-E! '$6! R*$*J.-E! #J! A+B3C.$! 2+*D-(.D! A(.<'-*!e#(B:!p!g#()E=#>9!T*>-9!XPP[9!
G*=.D+*E! '$6! G*=.D+*C-#C5(.6! T*(<.D*E9b! ! a"('$E.-.#$E! -#! U+-*($'-.<*! "('$E>#(-'-.#$!
2$<.(#$9!TD.9!p!"*D=9!XPP[!<^_!>OO[[COXP^9!! "*D=$#+#3.*ECCA+B3C.$! Y%1(.6! 2+*D-(.D!
X`9! aUEE*EE:*$-! #J! A+B3C.$! 2+*D-(.D! G*=.D+*! G*=.D+*E9b!
Q$-*3('-.#$! 0.-=! QTN@/"N!T%E-*:E9b! QTN@/"N! =-->?@@0009$'>9*6B@D'-'+#39>=>s(*D#(6o.6tOX
8#B$D.+9!&'(D=!XPOP9!! hX`9!UDD*EE*6!&'(D=!X`7!XPOP9!
Xc9! 59!RM*+#<B)7!U9!,#B('.7!"9!g'+)*(9!a8#::B$.-%! ! A'--*(E#$7! Z9! aQ&.*<b9! U/R! u2G! "*D=$#+#3%!
2$*(3%!T-#('3*!F82TH!'$6!-=*!T:'(-!5(.6?!qU! T%:>#E.B:9!XPP[9!
5':*! 8='$3*(kb! U2A! A(*E*$-'-.#$! -#! -=*! ! A*$$*%7! "9! aA2GkE! '(*! Y*(*! ]! QE! -=*(*!
2+*D-(.D.-%!T-#('3*!UEE#D.'-.#$9!&'%7!XPP[9! Q$J('E-(BD-B(*sb! TU2! 5#<k-@Q$6BE-(%! &-39! i'$9!
Xh9! &9! &#$-#%'9! a8'+.J#($.'! 2$*(3%! 8#::.EE.#$! XPOP9!
g#()E=#>! #$! 2$*(3%! T-#('3*! "*D=$#+#3.*E9b! ! "9! U$*3'0'9! aZ*E.('1+*! D='('D-*(.E-.DE! #J!
T#B-=*($!8'+.J#($.'!26.E#$9!U>(.+7!XPP[9! >B1+.D! fB.D)! D='(3*(b! "#)%#! 2+*D-(.D! A#0*(!
X[9! Z*$=#+:7! A9l! 2+'7! 29l! n.(1%7! R9l! &.++.3'$7! &9! 8#:>'$%9!A+B3C.$!XPP[9!
a/#+*! #J! 2$*(3%! T-#('3*! 0.-=! /*$*0'1+*! ! &#$-%7! 59! a2G! 0#()E=#>b!
2+*D-(.D.-%! 5*$*('-.#$9b! ,/24! /*>#(-! ,#9! "AC =-->?@@0009.*D9D=@L#$*@E:'(-3(.6@*C
ÙXC^cOhc9!XPOP9! :#1.+.-%@:#$-%o3(*3o*<o0#()E=#>9>6J9!!
_P9! T9! &.+B$#<.D=l! i9! /'ED#9! a"=*! T.K-=! UDD*EE*6!&'(D=!_P7!XPOP9!
/*<#+B-.#$?! "=*! 8#:.$3! #J! 8+*'$-*D=9b! ,#<! ! Q222! AXP_P! '$6! OW^c! E-'$6'(6E! 0*1E.-*9!
XPPh9! =-->?@@3(#B>*(9.***9#(3@3(#B>E@EDDXO@XP_P@XP_
_O9! &'()*+7! "9! aA+'-J#(:! 2$3.$**(.$3! U>>+.*6! -#! Po.$6*K9=-:+9!!
A+B3CQ$! Y%1(.6! 2+*D-(.D! G*=.D+*Eb! TU2! XPPcC ! \A#0*(-('.$! XPXPl! 4.C.#$! R'--*(.*E! ]! "=*! ,*K-!
POCPX[X9!,/24@8ACW^PCÔP_^9!U>(.+!XPPc9! RB11+*! U=*'6s\! /#+'$6! R*(3*(! T-('-*3%!
_X9! R(##)*(7! U9l! "=#($-#$7! &9l! /B3=7! i9! 8#$EB+-'$-E9!
a"*D=$#+#3%! Q:>(#<*:*$-! A'-=0'%E! -#! 8#E-C =-->?@@0009(#+'$61*(3*(9D=@:*6.'@>6J@/#+'$6o
2JJ*D-.<*! G*=.D+*! 2+*D-(.J.D'-.#$9b! TU2! XPOPC R*(3*(o4.CQ#$o1'--*(.*EoXPOPPXXX9>6J!!
POCPhX^9!,/24@8ACW^PC^c^W^9!e*1!XPOP9! ! i9g9! &'%l! &9! &'--.+'9! aA+B33.$3! Q$?! U!
__9! U9! nB(E7! U9! n'('+.E7! /9! &#JJ'--7! i9Z9! T-')*=#+6*(! Q$<*E-:*$-! 5B.6*! J#(! AB1+.D!
i#'$$#>#B+#E7! A9! e.E=*(7! &9! T#+M'D.Dr9! 2+*D-(.DCG*=.D+*! 8='(3.$3! Q$J('E-(BD-B(*9b!
ag.(*+*EE! A#0*(! "('$EJ*(! <.'! T-(#$3+%! /#D)%!&#B$-'.$!Q$E-.-B-*9!iB+%!XPP[9!
8#B>+*6! &'3$*-.D! /*E#$'$D*E9b! TD.*$D*!
<_Oc!`!iB+%!XPPc9!
_^9! 89! R+')*7! g9! RB--$*(7! U9! 8#E-'$L#7! 89! /.<).$9!
aG*=.D+*!8#6*E!'$6!T-'$6'(6E?!N<*(<.*0!'$6!
5'>!U$'+%E.Eb!,/249!T*>-9!XPP[9!
_W9! a2$<.(#$:*$-'+! UEE*EE:*$-! #J! A+B3CQ$! Y%1(.6!
2+*D-(.D! G*=.D+*E! G#+B:*! O?! ,'-.#$0.6*!
5(**$=#BE*! 5'E! 2:.EE.#$E9b! 2A/Q! /*>#(-!
OPOW_XW9!iB+%!XPPc9!
P"
!"#$%&''#"()*%
!"#$!%&'$()*"+%,%-$+&#,."& +,-%."/%010230455-
./0-123456-7018795:;-327<0:-=87-9/5>-684406958:-8=-5:=87?@958:-5>-0>95?@90<-98-@A07@;0-"-/827-107-70>18:>0B-5:642<5:;-9/0-95?0-=87-70A50C5:;-5:>9726958:>B->0@76/5:;-0D5>95:;-<@9@->82760>B-
;@9/075:;- @:<- ?@5:9@5:5:;- 9/0- <@9@- :00<0<B- @:<- 68?14095:;- @:<- 70A50C5:;- 9/0- 684406958:- 8=- 5:=87?@958:E- F0:<- 68??0:9>- 70;@7<5:;- 9/5>- 327<0:- 0>95?@90- 87- @:G- 89/07- @>1069- 8=- 9/5>-
684406958:- 8=- 5:=87?@958:B- 5:642<5:;- >2;;0>958:>- =87- 70<265:;- 9/0- 327<0:B- 98- H01@79?0:9- 8=- H0=0:>0B- &D06295A0- F07A560>- @:<- I8??2:56@958:>- H5706987@90- '($(#%("++,E- J0>18:<0:9>-
>/824<-30-@C@70-9/@9-:89C59/>9@:<5:;-@:G-89/07-178A5>58:-8=-4@CB-:8-107>8:->/@44- 30->23K069-98-@:G-10:@49G-=87-=@545:;-98-68?14G- C59/- @-684406958:-8=-5:=87?@958:-5=-59- <80>-:89- <5>14@G-@-
62770:94G-A@45<-LMN-68:9784-:2?307E-
#/",0"&'$&+$%&!"%)!+&1$)!&2$!*&%$&%3"&,4$5"&$!.,+-6,%-$+7-
87& !"#$!%&',%"&6773,,388889- 97& !"#$!%&%1#"- :7& ',%"0&($5"!"'&6!#"$%3%:"9-
O1754-*("(- I8:=070:60-P@107- ------
;7& %-%/"&,+'&0)4%-%/"- <=7& ($+%!,(%&+)*4"!-
P42;%5:-&4069756-Q0/5640-R:=7@>97269270S-O-!82:<@958:-=87-&406975=50<- H&%OITU%(+%VL*+T(+-
.7@:>1879@958:-
<>7& .!,+%&+)*4"!-
-
<?7& #!$.!,*&"/"*"+%&+)*4"!-
-
@7& ,)%3$!A0B- <C7& #!$D"(%&+)*4"!-
.E-M@7W04- XJ&Y)IP%Z#(%#$[Z"-
<E7& %,0F&+)*4"!-
!I"(E*#((-
<G7& H$!F&)+-%&+)*4"!-
-
I7& #"!2$!*-+.&$!.,+-6,%-$+&+,*"A0B&,+'&,''!"00A"0B- J7& #"!2$!*-+.&$!.,+-6,%-$+&
X@958:@4-J0:0C@340-&:07;G-Y@387@987G- !"#$!%&+)*4"!-
"U"$-I840-N4A<E- XJ&Y)IP%Z#(%#$[Z"-
V84<0:B-IL-+(#("%TT[T-
K7& 0#$+0$!-+.L*$+-%$!-+.&,."+(1&+,*"A0B&,+'&,''!"00A"0B- 8M7& 0#$+0$!L*$+-%$!N0&,(!$+1*A0B-

- XJ&Y-
887&0#$+0$!-+.L*$+-%$!-+.&
,."+(1&!"#$!%&+)*4"!-
-
897& '-0%!-4)%-$+&,5,-/,4-/-%1&0%,%"*"+%-
X@958:@4-.06/:56@4-R:=87?@958:-F07A560-
\EFE-H01@79?0:9-8=-I8??0760-
Z*+Z-P879-J8G@4-J8@<-
F175:;=504<B-QO-**"U"-
8:7& 0)##/"*"+%,!1&+$%"0-
-
8;7& ,40%!,(%%6,;<=$>$%?00%@"#*A9-
P42;%5:-04069756-A0/5640>-'P&Q>,]C/56/-5:642<0-@44%04069756-A0/5640>-@:<-142;%5:-/G375<-04069756-A0/5640>]178A5<0-@-
:0C-8118792:59G-=87-70<265:;-854-68:>2?1958:-3G-<7@C5:;-18C07-=78?-9/0-04069756-;75<E-.8-?@D5?5^0-9/0-30:0=59>-8=-
P&Q>B-9/0-0?07;5:;-P&Q-5:=7@>97269270]=78?-3@9907G-?@:2=@69275:;-98-68??2:56@958:-@:<-68:9784-309C00:-9/0-
A0/5640-@:<-9/0-;75<]?2>9-178A5<0-@660>>-98-640@:-0406975659GB->@95>=G->9@W0/84<07-0D1069@958:>B-@:<-0:>270->@=09GE--
I2770:94GB-68<0>-@:<->9@:<@7<>-87;@:5^@958:>-@70-6844@387@95:;-8:-@-P&Q-5:=7@>97269270-14@:E-&>9@345>/5:;-@-P&Q-
5:=7@>97269270-=7@?0C87W-C544-670@90-:0C-8118792:5950>-=87-32>5:0>>-@:<-K83-<0A0481?0:9-5:595@95:;-9/0-?8A0-98C@7<-
0406975=50<-97@:>1879@958:E-./5>-1@107->2??@75^0>-9/0-68?18:0:9>-8=-9/0-P&Q-5:=7@>97269270B-6/@440:;0>-@:<-
8118792:5950>-704@90<-98-9/0-<0>5;:-@:<-<0148G?0:9-8=-9/0-5:=7@>97269270B-@:<-9/0-1890:95@4-30:0=59>E-
8<7& 0)4D"(%&%"!*0-
142;%5:-04069756-A0/5640>_-P&Q_-P`&Q_-142;%5:-/G375<-04069756-A0/5640>_-5:=7@>97269270_-;75<_-3@9907G_-68<0>-@:<-
>9@:<@7<>-
8@7& 0"()!-%1&(/,00-2-(,%-$+&$2O- 8I7& /-*-%,%-$+& 8J7& +)*4"!& 8K=7&+,*"&$2&!"0#$+0-4/"&#"!0$+&
$2&,40%!,(%& $2&#,."0&
=7&!"#$!%& >7&,40%!,(%& ?7&%3-0&#,."& -
\:64@>>5=50<- \:64@>>5=50<- \:64@>>5=50<& \Y- - 8K>7&%"/"#3$+"&+)*4"!&'BCDE>*)%;#);%D"*)9!
-
0P=QC=RC&2SRT&9KJ-'J0AE-+)[+,-
P70>67530<-3G-OXFR-F9<E-aT[E"+-
!""#$%&'"()*((+,-

Transportation Plug in Electric Vehicle Infrastructure A Foundation For Electrified Transportation

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Transportation Plug in Electric Vehicle Infrastructure A Foundation For Electrified Transportation

Uploaded by

Copyright:

Available Formats

!

K7& 0#$+0$!-+.L$+-%$!-+.&,."+(1&+,"A0B&,+'&,''!"00A"0B- 8M7& 0#$+0$!L$+-%$!N0&,(!$+1A0B-

You might also like