C

CM

MY

CY

CMY

K
 C

CM

MY

CY

CMY

K
 ! !

! !

VPDOWDON

VPDOU

CM

MY

CY

CMY

PDQXIDFWXUHG E\

! !

! !
 ! !

! !

7KH RULJLQDO EORJ FDQ EH IRXQG DW

KWWS  VPDOU  WXPEOU  FRP

CM

MY

CY

CMY

$OO ULJKWV UHVHUYHG E\ WKH DXWKRU 1R SDUW RI WKLV SXEOLFDWLRQ PD\ EH UHSUR
GXFHG VWRUHG LQ D UHWULHYDO V\VWHP RU WUDQVPLWWHG LQ DQ\ IRUP RU E\ DQ\
PHDQV HOHFWURQLF PHFKDQLFDO SKRWRFRS\LQJ UHFRUGLQJ DQGRU RWKHUZLVH
ZLWKRXW WKH SULRU ZULWWHQ SHUPLVVLRQ RI WKH DXWKRU 7KLV ERRN PD\ QRW EH
OHQW UHVROG KLUHG RXW RU RWKHUZLVH GLVSRVHG RI E\ ZD\ RI WUDGH LQ DQ\ IRUP
ELQGLQJ RU FRYHU RWKHU WKDQ WKDW LQ ZKLFK LW LV SXEOLVKHG ZLWKRXW WKH SULRU
FRQVHQW RI WKH DXWKRU

0DQXIDFWXUHG E\ RQ 6HSWHPEHU  

! !

! !
 ! !

! !

%ORJ&DVWLQJ

CM

MY

CY

CMY

! !

! !
 ! !

! !

CM

MY

CY

CMY

! !

! !
 ! !

! !

&RQWHQWV
7KH ERRN RU WKH VLWH"                          
%XW WKDW DGPLUDWLRQ ZDV WXUQHG WR MHDORXV\ ZKHQ            
,QILQLWH RSWLRQV                             
$QG ZLOO QRW DOO WKLQJV WKDW DUH QRW RQH                 
5HDGLQJ Ȇ&UHDWLYH &RPPRQV 6HDUFKȇ )ODW :RUOG           
57 #IUFMREV                               
57 #GDYHPFFOXUH                            
57 #EL]VSDUN                              
C 3OD\LQJ ZLWK ELJ ZREEO\ HOHSKDQWV E\ #QHDYH             
M
57 #PDULDJULQHYD                           
&XULRXV DERXW                              
Y
&RPPHQW RQ                               
CM
57 #UZZ                                
MY 57 #VKHUYLQ                              
CY
57 #-HII.RZDOF]XN                          
#JRY 6WDUWXS 9LVD &UHDWHV -REV                   
<RXU PHVVDJH #JRY ZLOO EH VHQW WR 'LDQQH              
CMY

K
57 #&;2B7ZHHWV                           
+L 7ZHHWHUV                               
:DWFK GUHDPV EHFRPH UHDOLW\ ZLWK #6RQ\ PDNH           
, MXVW WRRN WKH *UHHQ=RQH0RYLH SROO                 
9LHZLQJ #IXQGLQJSRVW 9& DQG $QJHO ,QYHVWRU HYHQW         
57 #MHDQOXFU                              
57 #0LQHUYLW\                             
/2/                                   
, MXVW FUHDWHG D JLIW                            
57 #WZLWWIHHG                              
, MXVW SOD\HG Ȇ&XEH &UDVKȇ DQG VFRUHG                 
5HDGLQJ $UFKLYH                            
6PDOOHU                                 

! !

! !
 ! !

! !

57 #PYROSH                              
1LFH ZKHQ WKH \RXQJHU JHQHUDWLRQ FKHFNV LQ              
57 #/RWD\                               
57 #QHWVSHQFHU                             
57 #GDYHPFFOXUH                            
57 #DSOXVN                               
(QWUHSUHQHXULDO 6WHUHRW\SHV RQ 'LVSOD\ DW 6;6:           
57 #RP                                 
1LFH ZLWK WZR EURZVHU ZLQGRZV RSHQ IRU VSHFLDO           
*XLGH WR 0RVW 8VHIXO %RRNPDUNOHWV IRU &KURPH            
'DYH /HWWHUPDQȃV WRS  RI  6LJQV \RXȃUH RQ            
&KHFN RXW P\ IUHVK 7ZLWWHU 7LP                    
57 #MG\R\R                               
57 #DSOXVN                               
57 #%DUDFN2EDPD                           
57 #ZXVKXGD\                             
C
/LVWHQLQJ WR 7KH\ 1HHG 8V ,QWUR 0L[                 
M 57 #GDKDUD                               
Y /LVWHQLQJ WR (FOLSVH 0DW =R 5HPL[                  
CM
57 #0X]DFKDQ                             
57 #6DQQUL                               
MY
/LVWHQLQJ WR 7KLV 5RRP ,V 1RW %LJ (QRXJK              
CY 6HUJH\ %ULQ XUJHV 86 WR DFW RYHU &KLQD ZHE              
CMY
YDUN 8SGDWH                               
K
QRZSOD\LQJ #PHWURO\ULFV (YHU\ERG\ /RYHV 7KH           
6ZDUP Ǿ PXVLF FOLS %DGPDUVK 6KUL                 
/LNH WKH ,Q WKH &OXE 9RO                         
7KH *RRJOH 0RGHUDWRU SRVWV 4                     
57 #*7RSHND                            
*UHHQYLOOH 6&                              
57                                    
57 #ELOOODVFKHU                             
57 #OHJDOQRPDGV                            
,ȃP D IHHOLQJ ʇ KWWS  EOLS  IPaQLEPU                
5HDO ʇ KWWS  EOLS  IPaQLEM                    
57 #EMRUQKHPEUH                            
2OG FODVVLF 3XSSLHV ʇ KWWS  EOLS IPaQLHE            
$K 6XQ 5D ʇ KWWS  EOLS  IPaQLGS                 

LL

! !

! !
 ! !

! !

OLVWHQLQJ WR Ȇ9LROHQW )HPPHV                      

57 #JL]PRGR ,I <RX 8VH ,(                     
OLVWHQLQJ WR Ȇ&KHW %DNHU                        
57 #'HHSDN&KRSUD                          
3HDFHH ʇ KWWS  EOLS  IPaQPMZ                  
/RYHȃV GHVLUH ʇ KWWS  EOLS  IPaQPXO                
Ȇ#'-/23=                               
KWWS  WZLWJRR  FRPO]M                       
57 #VSXOODUD                              
7LPHOHVV QRZSOD\LQJ ʇ KWWS  EOLS IPaQQVJ           
6KRRW , WKRXJKW , WXUQHG RII WKDW EOLS EURDGFDVW            
OLVWHQLQJ WR Ȇ0D]]\ 6WDU                        
OLVWHQLQJ WR Ȇ7KH &U\VWDO 0HWKRG                    
57 #WOZ                                
6R                                    
3UHSDUH \RXUVHOI IRU (DUWK +RXU  ZLWK WKH             
C
57 #VSXQNBUDQVRP                           
M 57 #FDPLPRQVDOYD                           
Y 57 #/RWD\                               
CM
$K                                    
HDUWKKRXU 7ULHG WR WXUQ RII P\ WZLWWHU OLJKW              
MY
/2/                                   
CY 57 #(YHU\ZKHUH7ULS                          
CMY
57 #(YHU\ZKHUH7ULS                          
K
57 #NLWVRQ                               
57 #YHQWXUHKDFNV                           
HDUWKKRXU , NLQGD FKHDWHG                       
(DUWK +RXU  MXVW VWDUWHG                      
57 #5DMB5                               
57 #DSOXVN                               
$K 2IUD ʇ KWWS  EOLS  IPaQSU                  
<HV \HV \HV VE OLYH DW KWWS  XVWUH  DPE17M         
KWWS  WZLWJRR  FRPPPT                      
KWWS  WZLWJRR  FRPPPK                      
57 #'DUN3KLORVRSKHU                         
57 #JRRJOHVWXGHQWV                          
57 #POHYFKLQ                             
57 #6PDUW3KRQHVB*60                        

LLL

! !

! !
 ! !

! !

57 #'HEEDV                              
57 #0\*XUX                              
, MXVW JRW P\ OHYHO  +HDGOLQHU EDGJH RQ %OLS             
57 #LQWHUORSHUW[                            
57 #/RWD\                               
, MXVW JRW P\ OHYHO  +RWVWUHDN EDGJH RQ %OLS             
GRZQORDGHG %OLS                            
57 #ZRPHQ                              
57 #GDYHPFFOXUH                            
$ IHZ JRRG 7ZLWWHU $SSV                        
$SS 6KRZFDVH  0LQQD 7RQLJKW DW KWWS              
57 #%RRWVWUDS$VVRF ,%0 RIIHUV IUHH VRIWZDUH IRU          
57 #RP                                 
7KH &DVH                                 
57 #9HQWXUH%HDW ,%0 RIIHUV IUHH VRIWZDUH IRU            
L3DG *LYHZD\                              
C
57 #0LUDQ0DULF                            
M UG $QQXDO 6W                             
Y 57 #ILUHIR[                               
CM
57 #VKHUYLQ                              
5HDGLQJ                                 
MY
57 #ULFKEXJJHU  QHZ DQG VWXQQLQJ EODFN              
CY 57 #-DVRQB3ROORFN                           
CMY
/LVWHQLQJ WR /RGRV (ULF 6KDZ 5HPL[                 
K
57 #DUULQJWRQ                             
7KHUH DUH QR WZHHWV WR VKRZ ULJKW QRZ                 
57 #'-B7$52                             
57 #0;0$67(50.( KWWS  \IURJ  FRPL\VFNM       
57 #'-B7$52                             
57 #:ULWHUV'LJHVW                           
57 #9HQWXUH%HDW *RWRPHHWLQJ EULQJV ZHE              
, MXVW JRW P\ OHYHO  %URDGFDVWHU EDGJH RQ %OLS            
KL                                    
%OXUEHUDWL %ORJ{  3KRWRJUDSK\ %RRN 1RZ 2SHQ         
57 #GHDOVSOXV                             
57 #&KXUFK2I0L[                           
57 #-DPLH&UDJHU                            
57 #'HHSDN&KRSUD                          

LY

! !

! !
 ! !

! !

57 #PVIWFLWL]HQVKLS                          
57 #9HQWXUH%HDW                            
57 #5HY5XQ:LVGRP                         
, OLNH %UL]]O\                              
7ZHHW &KLUS{ KWWS  ELW  O\ F1SL7 #WDJ[WD             
57 #NDWLHIHKUHQ                            
OLVWHQLQJ WR Ȇ7KH ,QYLVLEO 6NUDWFK 3LNO]                
57 #PFKHODQJHO                           
57 #V\ELBV\EL                             
57 #-DPLH&UDJHU                            
57 #1<(:HHN 7KRVH ZKR EHOLHYH KWWS  RZO\ZNYZ      
/HDUQ 6RFLDO( :RUNVKRSV                       
&DOOLQJ $OO ,QQRYDWRUV _ )RUXP 1RNLD                 
57 #UZZ                                
57 #Q\WLPHVWHFK                            
, ZDQW WR JR WR &KLUS                          
C
:KLOH RQ WKH VXEMHFW RI )DFHERRN %                  
M 6XUIHG RII WR IE)XQG                           
Y 57 #KQVKDK 'HYHORSHUV DUH D YHU\ YRFDO FURZG           
CM
57 #3RF/\                               
'DYLG /HWWHUPDQȃV GRLQJ WRS  7ZHHWV                
MY
57 #=80$),6+ #VSLUDOGHOLJKW
CY                                 
CMY
57 #PDULDJULQHYD                           
K
-XVW IXQG WKLV LQ P\ ,098 IHHG                    
, JRW DQ HPDLO WRGD\ IURP 6HGR                     
5H                                    
)RXQG WKLV LQ ,098                           
7KH                                   
)ZG                                   
F\EUJSV Ǿ ZZZLPSOXFRP                       
7KDWȃV ROG ]LS FRGH KWWS  WZLWJRR FRPJMGI           
+RZȃV WKH WUDIILF LQ WKH FORXGV WRQLJKW                 
9LGHR FKDW IRU \RXU EORJ %ORJJHU 7LSV DQG 7ULFNV          
57 #0X]DFKDQ                             
, OLNHG D <RX7XEH YLGHR ǿ +XGVRQ 0RKDZNH            
<HV #'-/23=                             
:HȃUH UXQQLQJ RXW RI LQWHUQHW DGGUHVVHV                

! !

! !
 ! !

! !

+XGVRQ 0RKDZNH Ǿ )86( Ǿ )XOO\ )ODUHG               

0RORNR Ǿ 7KH 7LPH LV 1RZ  &DQ  5HPL[              
7KLV ORRNV FRRO KWWS  VPDOU  WXPEOU  FRPDUFKLYH          
,ȃP DWWHQGLQJ 6UDPDQD 0LWUD 00 6WUDWHJ\             
$KȌ7HWKHULQJȌ                            
&KHFN RXW 1HR3ODQHW RQ :LGJHWER[ KWWS               
&DOO IRU (QWULHV _ 7KH %XFNPLQVWHU )XOOHU                
+H\ ,ȃP EDFN IRU WKDW %UL]]O\ SLFQLF                  
57 #VDPUHLFK                              
2N                                    
&KHFNHG RXW WKH 9LVWD /LYH %HWD                    
, ORYH WKLV GD\                              
57 #FUDLJQHZPDUN                           
/DVW QLJKW , ZDV WKLQNLQJ WKDW 7ZLWWHU LV ELW               
9RWH RQ WKLV LGHD                             
6DOHV IRUFH PDQDJHPHQW                        
C
…OHVXQG 1RUZD\ LLPJXUFRP                    
M 57 #-XLVWMD                               
Y 7ZLWWHU 3V\FK 3URILOH RI #F\EUJSV                   
CM
*RRJOH IHHG IRU Ȇ KWWS  VPDOU  WXPEOU  FRPDUFKLYH          
F\EUJSV EORJ                               
MY
L3DG $SS                                
CY *RRJOH 6D\V 0RELOH $SS 6WRUHV +DYH 1R )XWXUH _ *DGJHW /DE _ :LUHGFRP 
CMY
6FKPLGW VD\V $QGURLG VDOHV KDYH PRYHG WR             
K
6R                                    
*RRJOH 6D\V 0RELOH $SS 6WRUHV +DYH 1R )XWXUH _ *DGJHW /DE _ :LUHGFRP 
KWWS                                   
7$,<2 6SHFLDO  6DNXUD  &KHUU\ %ORVVRPV           
5HDGLQJ                                 
, MXVW YRWHG IRU WKLV SKRWR                        
*( HFRFKDOOHQJH                            
KWWS  WZLWJRR  FRPR[W                      
H[FHVVLYHERRNVKHOI                           
&DQ \RX VHH WKLV TXHVWLRQ"                       
FKHFNHG RXW KWWS                             
6FLHQWLVWV GLVFRYHU IRVVLO RI ILYH                    
2FWREHU                               
$UH \RX HQMR\LQJ \RXU ZHHNHQG" /RWD\                

YL

! !

! !
 ! !

! !

9LGHR                                  
57 #QDR\XNLBVDVDNL                          
2FWREHU                               
.DQ\H :HVW LQ WKH VWXGLR                        
9LGHR                                  
<DOH 6WXG\ Ǿ 7KH . 5ROH[                
KWWS  VWDUWXSV  FRPFURZGIORZHUIXQG              
7KDQNV KWWS  OQNG  LQ 1X$WZ                   
57 #UREFKHQJ                             
0\ 7ZLIILFLHQF\ VFRUH LV                      
&URZG&RQI 7RGD\ KWWS  DPSOLI\ FRPXETRV            
SODQ $QJHO3DG 6WDUWXS 6FKRRO $IWHU 3DUW\            
$VKWRQ .XWFKHU                             
SODQ :RPHQ                              
9LHZLQJ #MXVWLQWY ǿ 6WDUWXS 6FKRRO RQ -XVWLQ            
57 #GDYHPFFOXUH                            
C
57 #MRVKHOPDQ                             
M /LEHUDWLRQ 7DOLE DQG 0DGOLE                      
Y KWWS                                   
CM
0DNH L3KRQH JDPHV IRU RQO\  ZLWK #JDPHVDODG          
7ZLWDULR                                 
MY
57 #VWVKDQN                              
CY %DQNV KWWS  WZLWJRR  FRPSXU]G                  
CMY
57 #+HLOHPDQQ +HOOR QHWERRN PDUNHW                
K
6RPHWKLQJ VHHPV VORZ RQ WKH QHWZRUN                 
,I RQH ZHȃUH WR FDOFXODWH DOO WKH WLPH VSHQW LQ              
+L 0RUWH]D                               
6R <RX :DQW WR 6WDUW D :HE 6WDUWXS                  
NQRZQ                                  
57 #FKXSDJDWRSUHVV                          
*RQ]DOH] IRU 0D\RU KWWS                        
57 #VDYRQQQ                              
, MXVW GRQDWHG  WR :LNLSHGLD                     
&KHFN WKLV RXW                             
7KH 6XQ KWWS  WZLWJRR  FRPTQDY                
9RWH LQ WKH QH[W  KRXUV WR SLFN WKH ZLQQHU RI             
57 #6WDUWXS%DWWOH                           
'DYH 0F&OXUH RQ DQJHO DQG 9& EXEEOHV KWWS             

YLL

! !

! !
 ! !

! !

7LS #7HFKPHPH KWWS                          

7KLQNLQJ WKH LQYHQWLRQ RI PLFUR                    
, ZRQGHU ZKDW \RX GUHDP :KHQ \RXU GUHDPLQJ           
.LFNVWDUWHU Ǿ 1HZ 0\VWLFV Ǿ ȆWRPEȇ UHYLVLWHG             
,ȃP OLVWHQLQJ WR Ȇ7HDUWHDUȇ E\ $XWHFKUH KWWS              
6FHQHV )URP (J\SW 3URWHVW 6LJQV 7KH 1HZ 5HSXEOLF         
57 #-DVRQB3ROORFN                           
9LD .LFNVWDUWHU                             
7KH UHDO 0DWW 'DPRQ LV PRVW OLNHO\ WZHHWLQJ              
57 #$NL$QDVWDVLRX                          
9LGHR                                  
9LGHR                                  
NRQR DNL ZD QDQGH WRVKL\RUX NXPR QL WRUL WKLV             
+DKD LOOL] QDW[WUDYDJDQ]D EDDDKDD ZRZZZZ /0$2       
0DUFK                               
%HHU $Q\RQH" _ UHPDGH                        
C
.LFNVWDUWHU Ǿ Ȇ$GPLVVLRQVȇ Ǿ D VKRUW ILOP IRU ZRUOG SHDFH      
M :KDW 3L VRXQGV OLNH                          
Y 0\ *UDSKLF IRU Ȇ'UHDPVWHUȇ $GMXVWPHQW %XUHDX           
CM
-DFNȃV WZWWU VWRULHV                           
:K\                                   
MY
5RRNLH 1RWH                               
CY , MXVW VDZ WKDW #GDYHPFFOXUH WZHHWHG WKLV RQ             
CMY
:KDW 3L VRXQGV OLNH KWWS  W FRLR1/.             
K
57 #%UDG0F&DUW\ #F\EUJSV 6ZHHW :LOO KDYH D ORRN       
(DUWK +RXU LV QRZ                            
GUHDPDOL]HU                               
,WȃV D ELW DQWL                               
,QQRYDWRUV QHHG WR ERXQFH DURXQG                   
57 #UREHUWZLOVRQ                          
GUHDPELJ                               
VXUJHULHV                                 
$SULO                                
GHHS QLJKW                                
'UDZ 0\ 7KLQJ                             
9LGHR                                  
KWWS  WZLWJRR  FRPRJ                      
VLUPLWFKHOO                                

YLLL

! !

! !
 ! !

! !

9LGHR                                  
WKVHQVH\R 6XFK D GRSH SLF                      
-XO\                                
$XJXVW                               
MHVVLFDHDWRQ ȋȋȋ                             
'DYLG 1R«O $UFKLYH                          
YLD VPDOWDON                               
P\ FRGH EURNH ULJKW                          

CM

MY

CY

CMY

L[

! !

! !
 ! !

! !

CM

MY

CY

CMY

! !

! !
 ! !

! !

7KH ERRN RU WKH VLWH"

7XHVGD\ )HEUXDU\  

,WȃV H[FHHGLQJO\ FOHDU WKDW P\ WZR FXUUHQW SURMHFWV DUH UXQQLQJ LQ VHFUHW
SDUDOOHO
6HHPLQJO\ GLVWDQW \HW ZLWK XQGHUFXUUHQWV WKDW PXUPXU ȆGR \RX GR WKH
%RRN ILUVW" 2U WKH ZHEVLWH" :LOO QRW WKH ERRN EH WKH RQH WKDW HYHQWXDO
O\ SRZHUV WKH ZHEVLWH" 2U"
5HFHQW 3RVWV RQ 7ZLWWHU LQGLFDWH QHHG IRUȌWHOO \RX ODWHU
$SSOH 7KHUHȃV 3RUQRJUDSK\ 2Q 0\ L3KRQH 7KH $SS ,V &DOOHG 6DIDUL <RX
0DGH ,W Ǿ KWWS  WFUQ  FKFD*WO E\ #SDULVOHPRQ

C
%XW WKDW DGPLUDWLRQ ZDV WXUQHG WR MHDORXV\
M
ZKHQ
7XHVGD\ )HEUXDU\  
Y

CM
%XW WKDW DGPLUDWLRQ ZDV WXUQHG WR MHDORXV\ ZKHQ KH VDZ WKH JD\ DGYHQWXUHU
MY SXOO RXW IURP D VLGHSRFNHW D VPDOO VWUDZ FDVH IURP ZKLFK KH VHOHFWHG D
CY OLJKWFRORUHG FLJDU ZKLFK KH SURFHHGHG WR VPRNH RQ WKH WKUHVKROG RI WKH
CMY
LQQ GRRU ZKLOH ZDLWLQJ IRU EUHDNIDVW 6WDUW LQ /LIH E\+RQRUH GH %DO]DF
K

,QILQLWH RSWLRQV
7XHVGD\ )HEUXDU\  

3HUKDSV WKH RSWLRQV KDYH EHFRPH LQILQLWH ,I , XVH 7XPEOU WR ZULWH P\ ERRN
WKHQ LW ZLOO QRW EH SULYDWH
:HOO , JXHVV WKDW LV WKH SRLQW VR WKH\ VD\ RU LQGLFDWH

! !

! !
 ! !

! !

$QG ZLOO QRW DOO WKLQJV WKDW DUH QRW RQH

:HGQHVGD\ )HEUXDU\  

$QG ZLOO QRW DOO WKLQJV WKDW DUH QRW RQH EH RWKHU WKDQ WKH RQH DQG WKH RQH
RWKHU WKDQ WKH QRWRQH" :LNL4XRWH 3ODWR

5HDGLQJ Ȇ&UHDWLYH &RPPRQV 6HDUFKȇ )ODW

:RUOG
:HGQHVGD\ )HEUXDU\  

5HDGLQJ Ȇ&UHDWLYH &RPPRQV 6HDUFKȇ )ODW :RUOG .QRZOHGJH /DXQFKHV

2SHQ 7H[WERRN ,QWHUQVKLS 3URJUDP  KWWS  ELW  O\ 3<$ 

M 57 #IUFMREV
Y :HGQHVGD\ )HEUXDU\  
CM

MY
57 #IUFMREV 5REOR[ :HE 6RIWZDUH (QJLQHHU Ǿ :HE*DPH 6WDUWXS ǿ
5HGZRRG &LW\ &$ 86 KWWS  IUF YF=
CY

CMY

K
57 #GDYHPFFOXUH
:HGQHVGD\ )HEUXDU\  

57 #GDYHPFFOXUH +HOS 6XSSRUW 6WDUWXS9LVD $FW  JR KWWS ←!

 VWDUWXSYLVD  FRPVXSSRUW−XV WZHHW GRQDWH EORJ ZLGJHW FDOO \U UHS
57

! !

! !
 ! !

! !

57 #EL]VSDUN
:HGQHVGD\ )HEUXDU\  

57 #EL]VSDUN >%ORJ@ 6WDUWXS RI WKH 'D\ Ǿ &<1&= 7KH %L]6SDUN VWDUWXS

RI WKH GD\ LV &<1&= EDVHG LQ WKH 86 <RX ZLOO ILQG EHȌ KWWS Ȍ

3OD\LQJ ZLWK ELJ ZREEO\ HOHSKDQWV E\

#QHDYH
:HGQHVGD\ )HEUXDU\  

3OD\LQJ ZLWK ELJ ZREEO\ HOHSKDQWV E\ #QHDYH KWWS  QHDYHFRP ←!

LPDJLQDWLRQ

M
57 #PDULDJULQHYD
Y :HGQHVGD\ )HEUXDU\  
CM

MY
57 #PDULDJULQHYD 7KH <DKRR7ZLWWHU 3DUWQHUVKLS KWWS  ELW  O\  ←!
E=4H YLD #WZWWLPHV
CY

CMY

K
&XULRXV DERXW
:HGQHVGD\ )HEUXDU\  

&XULRXV DERXW ȆEORJJLHȝ 03 &DPHUDV _ 6RQ\ _ 6RQ\ 6W\OH 86$ȇ 

KWWS  ELW  O\ FNKY/V  :KR KDV WKLV"

&RPPHQW RQ
:HGQHVGD\ )HEUXDU\  

&RPPHQW RQ ,QWHO/HDG ,QLWLDWLYH 3OHGJHV  %LOOLRQ 7R 7HFK 6WDUWXSV

*R ,QWHO , ZDV JRLQJ WR VXJJHVW WKDW  %XW KWWS  ELW  O\ 7K7M;

! !

! !
 ! !

! !

57 #UZZ
:HGQHVGD\ )HEUXDU\  

57 #UZZ ,QWHO/HDG ,QLWLDWLYH 3OHGJHV  %LOOLRQ 7R 7HFK 6WDUWXSV

KWWS  ELW  O\ DG%GS4

57 #VKHUYLQ
:HGQHVGD\ )HEUXDU\  

57 #VKHUYLQ 6R H[FLWHG WR EH D SDUW RI WKLV &RQJUDWV WR DOO 57 #EIHOG

6WDUW8S 9LVD $FW SURSRVHG E\ 6HQDWRUV .HUU\ /XJDU WRGD\ VW Ȍ

C 57 #-HII.RZDOF]XN
M
:HGQHVGD\ )HEUXDU\  

57 #-HII.RZDOF]XN 57 #3UHVWRQ Ȇ6RPHWLPHV ,ȃYH EHOLHYHG DV

CM
PDQ\ DV VL[ LPSRVVLEOH WKLQJV EHIRUH EUHDNIDVWȇ/HZLV &DUUROO
MY

CY

CMY #JRY 6WDUWXS 9LVD &UHDWHV -REV

K 7KXUVGD\ )HEUXDU\  

#JRY 6WDUWXS 9LVD &UHDWHV -REV 6HQW WR P\ UHS ZLWK KWWS  ←!

VWDUWXSYLVD JRYRUJ VWDUWXSYLVD 3OHDVH 57

<RXU PHVVDJH #JRY ZLOO EH VHQW WR 'LDQQH

7KXUVGD\ 0DUFK  

<RXU PHVVDJH #JRY ZLOO EH VHQW WR 'LDQQH )HLQVWHLQ %DUEDUD %R[HU DQG
/XFLOOH 5R\EDO$OODUG 6WDUWXS9LVD

! !

! !
 ! !

! !

57 #&;2B7ZHHWV
0RQGD\ 0DUFK  

57 #&;2B7ZHHWV +7& /HJHQG LP HUVWHQ 7HVW (LQGU¼FNH 9LGHR %LOGHU

+7& O¤VVWȃV NUDFKHQ 'HU 6PDUWSKRQH+HUVWHOOHU KDW PLW PDVVLȌ KW Ȍ

+L 7ZHHWHUV
0RQGD\ 0DUFK  

+L 7ZHHWHUV

:DWFK GUHDPV EHFRPH UHDOLW\ ZLWK #6RQ\

C PDNH
M
0RQGD\ 0DUFK  
Y

:DWFK GUHDPV EHFRPH UHDOLW\ ZLWK #6RQ\ PDNHEHOLHYH KWWS  ELW  ←!

CM
O\ F:K=I VRFLDOYLEH
MY

CY

CMY , MXVW WRRN WKH *UHHQ=RQH0RYLH SROO

K 0RQGD\ 0DUFK  

, MXVW WRRN WKH *UHHQ=RQH0RYLH SROO &OLFN KHUH WR FKHFN RXW WKH WUDLO
HU DQG VHH KRZ \RXU DQVZHUV FRPSDUH KWWS  ELW  O\ FPQJ<= VR
FLDOYLEH

! !

! !
 ! !

! !

9LHZLQJ #IXQGLQJSRVW 9& DQG $QJHO

,QYHVWRU HYHQW
0RQGD\ 0DUFK  

9LHZLQJ #IXQGLQJSRVW 9& DQG $QJHO ,QYHVWRU HYHQW LQ /$ ,QIR DW
KWWS  M  PSF6IR)R +RZ ZDV WKH 1< HYHQW"

57 #MHDQOXFU
0RQGD\ 0DUFK  

57 #MHDQOXFU /D YRJXH GH OD ȆSKRQHWK©UDSLHȇ $LGH DX ERXW GX ILO SRXU

OHV LQWHUQDXWHV /D YDJXH GHV F\EHUSV\V KWWS  M  PSE'O3&Z

M 57 #0LQHUYLW\
Y 0RQGD\ 0DUFK  
CM

MY
57 #0LQHUYLW\ 7KH 3RZHU RI /RYH _ 7KH :RUOG *HWV 6PDOOHU Ǿ KWWS ←!
 ELW  O\ F%I\%
CY

CMY

K
/2/
0RQGD\ 0DUFK  

/2/ 7KDW IXQ VHHPV OLNH D FXWH VLWH IRU WKH NLGV , ZDV MXVW 8, DQG VLWH
WHVWLQJ RI FRXUVH $KHP

, MXVW FUHDWHG D JLIW

0RQGD\ 0DUFK  

, MXVW FUHDWHG D JLIW &KHFN LW RXW Ȇ1LFH 1DSȇ KWWS  ELW  O\ F&RDX

! !

! !
 ! !

! !

57 #WZLWWIHHG
0RQGD\ 0DUFK  

57 #WZLWWIHHG 7HFKFUXQFK %ODFNERDUG %X\V 0RELOH 0HVVDJLQJ &RPSDQ\

6DI71HW )RU  0LOOLRQ %ODFNERDUG D FRPSDQ\ WKDW GHVLJQV Ȍ KWW Ȍ

, MXVW SOD\HG Ȇ&XEH &UDVKȇ DQG VFRUHG

0RQGD\ 0DUFK  

, MXVW SOD\HG Ȇ&XEH &UDVKȇ DQG VFRUHG  UDQNHG WK RYHUDOO
%HDW LW KWWS  ELW  O\ D[(% IXQ

C 5HDGLQJ $UFKLYH
M 0RQGD\ 0DUFK  
Y

CM
5HDGLQJ $UFKLYH 6PDOOHUFRP 6SHFLDO 5HSRUWV $ 'RJȃV /LIH KWWS  ←!
M  PSEEH;]
MY

CY

CMY
6PDOOHU
K 0RQGD\ 0DUFK  

6PDOOHUFRP 7KH ZKROH ZRUOG LQ \RXU KDQGV DJDLQ %DE\ PRELOH JDGJHW
VLWH ORRNV WR XQFKDUWHG VNLHV GUHDPLWSLWFK

57 #PYROSH
7XHVGD\ 0DUFK  

57 #PYROSH 1HZ %ORJ 3RVW :KDW *HWV 0RUH 7UDIILF 7KDQ *RRJOH" 1RZ
)DFHERRN KWWS  RZO\2XRJ

! !

! !
 ! !

! !

1LFH ZKHQ WKH \RXQJHU JHQHUDWLRQ FKHFNV

LQ
7XHVGD\ 0DUFK  

1LFH ZKHQ WKH \RXQJHU JHQHUDWLRQ FKHFNV LQ 7KH\ DUH Ȇ%HHPHUVȇ QRW
%RRPHUV

57 #/RWD\
7XHVGD\ 0DUFK  

57 #/RWD\ 57 #KDUGO\QRUPDO *DU\ 9D\QHUFKXN #JDU\YHH 0DUN

+RUYDWK #KDUGO\QRUPDO ,QWHUYLHZ KWWS  LV JGD&RS , UHIUHVKJDU\

M 57 #QHWVSHQFHU
Y 7XHVGD\ 0DUFK  
CM

MY
57 #QHWVSHQFHU 9HU\ LQWHUHVWLQJ UHDG ǿ 2QOLQH 6WDWXV $Q[LHW\ KWWS ←!
 VSQFU PHI
CY

CMY

K
57 #GDYHPFFOXUH
7XHVGD\ 0DUFK  

57 #GDYHPFFOXUH 'ULQN HDFK WLPH #GDYHPFFOXUH VZHDUV OHDQVWDUWXS

V[VZ YLD #'DQLHOOH0255,//

57 #DSOXVN
7XHVGD\ 0DUFK  

57 #DSOXVN VWD\ WXQHG JX\V ǿ ZH DUH JHWWLQJ UHDG\ WR JR /,9( IURP WKH
VNLSLQWURSDUW\ DW 6;6: Ǿ EURDGFDVWLQJ KHUH KWWS  ELW  O\ 9RY

! !

! !
 ! !

! !

(QWUHSUHQHXULDO 6WHUHRW\SHV RQ 'LVSOD\ DW

6;6:
7XHVGD\ 0DUFK  

(QWUHSUHQHXULDO 6WHUHRW\SHV RQ 'LVSOD\ DW 6;6: KWWS  ELW  O\  ←!

D5W IURP #JLJDRP 0RUH FKLFNV QHHGHG QRZ

57 #RP
7XHVGD\ 0DUFK  

57 #RP 7ZLWWHU &(2 (Y :LOOLDPV )XUWKHU #$Q\ZKHUH 'HWDLOV DW &KLUS

&RQIHUHQFH KWWS  ELW  O\ S(XUN IURP #JLJDRP

M 1LFH ZLWK WZR EURZVHU ZLQGRZV RSHQ IRU

Y
VSHFLDO
CM 7XHVGD\ 0DUFK  
MY

CY
1LFH ZLWK WZR EURZVHU ZLQGRZV RSHQ IRU VSHFLDO HFKR HIIHFW WZLW LV OLYH
RQ OLYHWZLWWY IURP 6;6: WZLW OLYH DW KWWS  XVWUH DPR$
CMY

*XLGH WR 0RVW 8VHIXO %RRNPDUNOHWV IRU

&KURPH
7XHVGD\ 0DUFK  

*XLGH WR 0RVW 8VHIXO %RRNPDUNOHWV IRU &KURPH )LUHIR[ 6DIDUL HWF YLD
NZRXW KWWS  NZRXWFRPWEZ]FI]H

! !

! !
 ! !

! !

'DYH /HWWHUPDQȃV WRS  RI  6LJQV \RXȃUH

RQ
7XHVGD\ 0DUFK  

'DYH /HWWHUPDQȃV WRS  RI  6LJQV \RXȃUH RQ WZLWWHU WRR PXFK _ Ȍ

KWWS  WLQ\XUO  FRP\NTN YLD #2QH5LRW

&KHFN RXW P\ IUHVK 7ZLWWHU 7LP

7XHVGD\ 0DUFK  

&KHFN RXW P\ IUHVK 7ZLWWHU 7LPHV QHZVSDSHU KWWS  WZLWWHUWLP  HV  ←!

&\EU*36

M 57 #MG\R\R
Y 7XHVGD\ 0DUFK  
CM

MY
57 #MG\R\R #/LO-RQ 7KH QXPEHU RQH FKHVV SOD\HU LQ WKH ZRUOG OLVWHQV WR
\RXU PXVLF EHIRUH JDPHV KWWS  ZZZFKHVVEDVHFRPQHZVGHWDLODVS ←!
CY
Ȍ
CMY

57 #DSOXVN
7XHVGD\ 0DUFK  

57 #DSOXVN +HOOR ZHOFRPH WR 7ZLWWHU +RZ PD\ , WDNH \RXU RUGHU

KWWS  EUL]]O\  FRPSLF7%;



! !

! !
 ! !

! !

57 #%DUDFN2EDPD
7XHVGD\ 0DUFK  

57 #%DUDFN2EDPD $ERXW WR VLJQ FRPSUHKHQVLYH KHDOWK LQVXUDQFH UHIRUP

LQWR ODZ :DWFK OLYH DW  DP (7 KWWS  M PSGY8PQ

57 #ZXVKXGD\
:HGQHVGD\ 0DUFK  

57 #ZXVKXGD\ 0DUWLDO $UWV :XVKX &KLQHVH -LDQ 6ZRUG Ǿ H%D\ LWHP

 Ȍ H%D\ )LQG 0DUWLDO $UWV :XVKX &KLQHVH -LDQ 6ZȌ KWWS
Ȍ

M
/LVWHQLQJ WR 7KH\ 1HHG 8V ,QWUR 0L[
:HGQHVGD\ 0DUFK  
Y

CM

/LVWHQLQJ WR 7KH\ 1HHG 8V ,QWUR 0L[ Ǿ $UQHM KWWS  PXJGMXK #PX

MY
JDVKD
CY

CMY

K 57 #GDKDUD
:HGQHVGD\ 0DUFK  

57 #GDKDUD Ȇ3URJUDPPLQJ LV OLNH VH[ RQH PLVWDNH DQG \RX KDYH WR VXS
SRUW LW IRU WKH UHVW RI \RXU OLIHȇ ǿ 0LFKDHO 6LQ] TXRWH

/LVWHQLQJ WR (FOLSVH 0DW =R 5HPL[

:HGQHVGD\ 0DUFK  

/LVWHQLQJ WR (FOLSVH 0DW =R 5HPL[ Ǿ $FWLYD 3UHV 6RODU 0RYHPHQW

KWWS  PXJGMXP 5W FURQLFQRZSOD\LQJ



! !

! !
 ! !

! !

57 #0X]DFKDQ
:HGQHVGD\ 0DUFK  

57 #0X]DFKDQ 57 #DVLDLPDJHV 0RPHQW RI =HQ Ǿ .LQNDNXML .\RWR

KWWS  ELW  O\ DK6F]; MDSDQ SKRWRJUDSK\ N\RWR

57 #6DQQUL
:HGQHVGD\ 0DUFK  

57 #6DQQUL /LYH \RXU EHOLHIV DQG \RX FDQ WXUQ WKH ZRUOG DURXQG 7KRUH
DX TXRWHV ,UDQ(OHFWLRQ KXPDQULJKWV

C /LVWHQLQJ WR 7KLV 5RRP ,V 1RW %LJ (QRXJK

M
:HGQHVGD\ 0DUFK  
Y

/LVWHQLQJ WR 7KLV 5RRP ,V 1RW %LJ (QRXJK Ǿ 0U 3LW KWWS  PXJGMXL

CM
#PXJDVKD
MY

CY

CMY 6HUJH\ %ULQ XUJHV 86 WR DFW RYHU &KLQD ZHE

K :HGQHVGD\ 0DUFK  

6HUJH\ %ULQ XUJHV 86 WR DFW RYHU &KLQD ZHE FHQVRUVKLS KWWS  M PS ←!
M*)

YDUN 8SGDWH
:HGQHVGD\ 0DUFK  

YDUN 8SGDWH 1R UHVSRQVH \HW DERXW LQWHUQHW  EXW ,ȃP VWLOO ORRNLQJ 7LS
XVH D KDVKBWDJ LQ \RXU QH[W 4



! !

! !
 ! !

! !

QRZSOD\LQJ #PHWURO\ULFV (YHU\ERG\

/RYHV 7KH
7KXUVGD\ 0DUFK  

QRZSOD\LQJ #PHWURO\ULFV (YHU\ERG\ /RYHV 7KH 6XQVKLQH O\ULFV ,QFRJ

QLWR Ǿ KWWS  ELW  O\ :&83

6ZDUP Ǿ PXVLF FOLS %DGPDUVK 6KUL

7KXUVGD\ 0DUFK  

6ZDUP Ǿ PXVLF FOLS %DGPDUVK 6KUL Ǿ $1'(56 *(6(+(1 # , WKLQN

VR ʇ KWWS  EOLS  IPaQKQFD

M /LNH WKH ,Q WKH &OXE 9RO

Y
7KXUVGD\ 0DUFK  

CM

/LNH WKH ,Q WKH &OXE 9RO  ʇ KWWS  EOLS IPaQKY

MY

CY

CMY
7KH *RRJOH 0RGHUDWRU SRVWV 4
K
7KXUVGD\ 0DUFK  

7KH *RRJOH 0RGHUDWRU SRVWV 4 RQ *RRJOH )LEHU ,V WKLV JRRG" &KHFN WKH
ER[ 7K[ KWWS  JRRJO PRG*= WKDWVDJRRGLGHD

57 #*7RSHND
7KXUVGD\ 0DUFK  

57 #*7RSHND 57 #PFVWXEEV #JRRJOH *7RSHND EF PDQ\ ZKR

QHHG ,QWHUQHW WKH PRVW GRQW KDYH DFFHVV DW DOO %XW VWLOO ZQW  QRPLQDWH F
Ȍ



! !

! !
 ! !

! !

*UHHQYLOOH 6&
7KXUVGD\ 0DUFK  

*UHHQYLOOH 6& /LJKWV XS KWWS  ELW  O\ ET0[* 6R OHWȃV VHH  GD\V OHIW
WR RUJ ORFDO *RY RQ 5), 2.

57
7KXUVGD\ 0DUFK  

57 *RRJOH H[SORUHV +LJK )LEHU IRU +LJK 7LPHV LQ 0HQGRFLQR &RXQW\ &DO
LIRUQLD &OLFN WR FKHFN 7K[ MPS[/G

C
57 #ELOOODVFKHU
7KXUVGD\ 0DUFK  
M

Y
57 #ELOOODVFKHU #ERQRER WKH\ DOVR GLVFXVVHG WKH WRXULVP SRWHQWLDO IRU
CM +XPEROGW0HQGRFLQR FRXQWLHV DORQJ WKH OLQHV RI 1DSD6RQRPD IRU Ȍ
MY

CY

CMY
57 #OHJDOQRPDGV
K
7KXUVGD\ 0DUFK  

57 #OHJDOQRPDGV 7KDQNV WR #HYHU\ZKHUHWULS #GUJRWSDVVSRUW

#RXURZQSDWK #WUDYHOILVK #NDUSXO #PDVDFRV #5XQDZD\-XQR #-RKQ
Q\9DJDERQG #FKLHV Ȍ

,ȃP D IHHOLQJ ʇ KWWS  EOLSIPaQLEPU

7KXUVGD\ 0DUFK  

,ȃP D IHHOLQJ ʇ KWWS  EOLS  IPaQLEPU



! !

! !
 ! !

! !

5HDO ʇ KWWS  EOLSIPaQLEM

7KXUVGD\ 0DUFK  

5HDO ʇ KWWS  EOLS  IPaQLEM

57 #EMRUQKHPEUH
7KXUVGD\ 0DUFK  

57 #EMRUQKHPEUH 57 #IURJGHVLJQ :H ZDQW WR EHFRPH WKH 8 6 9

FRPSDQ\ ǿ XOWUDVPDOO YHKLFOHV *0 FKDQJLQJ WKH IXWXUH RI XUEDQ PRELOLW\
Ȍ

C 2OG FODVVLF 3XSSLHV ʇ

M
KWWS  EOLSIPaQLHE
Y
7KXUVGD\ 0DUFK  
CM

MY 2OG FODVVLF 3XSSLHV ʇ KWWS  EOLS IPaQLHE

CY

$K 6XQ 5D ʇ KWWS  EOLSIPaQLGS

CMY

7KXUVGD\ 0DUFK  

$K 6XQ 5D ʇ KWWS  EOLS  IPaQLGS

OLVWHQLQJ WR Ȇ9LROHQW )HPPHV

7KXUVGD\ 0DUFK  

OLVWHQLQJ WR Ȇ9LROHQW )HPPHV Ǿ $GG ,W 8S OLYHȇ ʇ KWWS  EOLS  IPa ←!

QLFQP



! !

! !
 ! !

! !

57 #JL]PRGR ,I <RX 8VH ,(

7KXUVGD\ 0DUFK  

57 #JL]PRGR ,I <RX 8VH ,( )LUHIR[ DQG 6DIDUL 7RGD\ ,V D %DG 'D\ Ǿ
%URZVHUV Ǿ *L]PRGR KWWS  WLQ\XUO  FRP\]TS

OLVWHQLQJ WR Ȇ&KHW %DNHU

)ULGD\ 0DUFK  

OLVWHQLQJ WR Ȇ&KHW %DNHU Ǿ <RX 'RQȃW .QRZ :KDW /RYH ,V ZLWK (OYLV
&RVWHOORȇ ʇ KWWS  EOLS  IPaQNXY

C 57 #'HHSDN&KRSUD
M )ULGD\ 0DUFK  
Y

CM
57 #'HHSDN&KRSUD 3K\VLFDO UHDOLW\ LV V\PEROLF UHSUHVHQWDWLRQ RI FRQ
VFLRXVQHVV LQWHUDFWLQJ ZLWK LWVHOI DV LW GLIIHUHQWLDWHV LQWR REVHYHU Ȍ
MY

CY

CMY
3HDFHH ʇ KWWS  EOLSIPaQPMZ
K
6DWXUGD\ 0DUFK  

3HDFHH ʇ KWWS  EOLS  IPaQPMZ

/RYHȃV GHVLUH ʇ KWWS  EOLSIPaQPXO

6DWXUGD\ 0DUFK  

/RYHȃV GHVLUH ʇ KWWS  EOLS  IPaQPXO



! !

! !
 ! !

! !

Ȇ#'-/23=
6DWXUGD\ 0DUFK  

Ȇ#'-/23= Ȇ#F\EU*36  %DFN DJDLQ ʇ KWWS  EOLS IPaQPUR

KWWS  WZLWJRRFRPO]M
6DWXUGD\ 0DUFK  

KWWS  WZLWJRR  FRPO]M

57 #VSXOODUD
6DWXUGD\ 0DUFK  
C

M 57 #VSXOODUD #VHOGR GHOHWH )LQGHUDSS NLOODOO )LQGHU YRLOD QR PRUH

Y
)LQGHU GRQȃW FU\ ZKHQ \RX FDQȃW )LQG WKLQJV 
CM

7LPHOHVV QRZSOD\LQJ ʇ
MY

CY

CMY
KWWS  EOLSIPaQQVJ
6DWXUGD\ 0DUFK  
K

7LPHOHVV QRZSOD\LQJ ʇ KWWS  EOLS IPaQQVJ

6KRRW , WKRXJKW , WXUQHG RII WKDW EOLS

EURDGFDVW
6DWXUGD\ 0DUFK  

6KRRW , WKRXJKW , WXUQHG RII WKDW EOLS EURDGFDVW



! !

! !
 ! !

! !

OLVWHQLQJ WR Ȇ0D]]\ 6WDU

6DWXUGD\ 0DUFK  

OLVWHQLQJ WR Ȇ0D]]\ 6WDU Ǿ )DGH ,QWR <RX ȇ ʇ KWWS  EOLS IPa ←!
QQQEY

OLVWHQLQJ WR Ȇ7KH &U\VWDO 0HWKRG

6DWXUGD\ 0DUFK  

OLVWHQLQJ WR Ȇ7KH &U\VWDO 0HWKRG Ǿ .HHS +RSH $OLYHȇ ʇ KWWS  EOLS  ←!

IPaQQPPN

C 57 #WOZ
M 6DWXUGD\ 0DUFK  
Y

CM
57 #WOZ 57 #PFPXIILQRIGRRP , SUREDEO\ VKRXOGQȃW XVH P\ NQRZO
HGJH RI P\WKRORJ\ DV D EHQFKPDUN IRU GUXQNHQQHVV DQG FRKHUHQF\
MY
GHHSWKR Ȍ
CY

CMY

K 6R
6DWXUGD\ 0DUFK  

6R &DUORV 6OLP LV QRZ WKH ZRUOGȃV ZHDOWKLHVW PDQ &XULRXV LV KH DOVR DV
FRPSHWLWLYH LQ SKLODQWKURS\" :KR JHWȃV WKDW WLWOH"



! !

! !
 ! !

! !

3UHSDUH \RXUVHOI IRU (DUWK +RXU  ZLWK

WKH
6DWXUGD\ 0DUFK  

3UHSDUH \RXUVHOI IRU (DUWK +RXU  ZLWK WKH Ȇ/LJKWV 2IIȇ 7ZLWWHU
DSSOLFDWLRQ KWWS  OLJKWVRII −HDUWKKRXUFRP HDUWKKRXU

57 #VSXQNBUDQVRP
6DWXUGD\ 0DUFK  

57 #VSXQNBUDQVRP 3UHSDUH \RXUVHOI IRU (DUWK +RXU  ZLWK WKH Ȇ/LJKWV
2IIȇ 7ZLWWHUDSSOLFDWLRQ KWWS  OLJKWVRII −HDUWKKRXUFRP HDUWKKRXU

M 57 #FDPLPRQVDOYD
Y 6DWXUGD\ 0DUFK  
CM

MY
57 #FDPLPRQVDOYD HDUWKKRXU HQ  KRUDV  2 &KLOH:DQWV670
CY

CMY
57 #/RWD\
6DWXUGD\ 0DUFK  
K

57 #/RWD\ KWWS  ELW  O\ QHZ+RUL]RQV #%&&) DUH P\ WZR IDYRULWH

FKDULWLHV 57 #MRVKSDXO #/RWD\ 0DNH$:LVK ,ȃYH GRQDWHG  DQG
WLPH Ȍ

$K
6DWXUGD\ 0DUFK  

$K \HV 7KH ,ULVK ,ȃOO SOD\ WKLV WR RQH QRZ ʇ KWWS  EOLS  IPa ←!
QRZX



! !

! !
 ! !

! !

HDUWKKRXU 7ULHG WR WXUQ RII P\ WZLWWHU OLJKW

6XQGD\ 0DUFK  

HDUWKKRXU 7ULHG WR WXUQ RII P\ WZLWWHU OLJKW ZLWK WKDW DSS EXW QRW VXUH LW
ZRUNHG

/2/
6XQGD\ 0DUFK  

/2/ -XVW JRW D 4 RQ ,0 DDUGYDUNB\P 6DQ )UDQFLVFR

:KDW LV WKH JRLQJ SULFH IRU D SRXQG RI ZHHG LQ VDQ IUDQFLVFR"

C
57 #(YHU\ZKHUH7ULS
M
6XQGD\ 0DUFK  

57 #(YHU\ZKHUH7ULS 2QO\ D IHZ GD\V OHIW WR ZLQ DQ  -9& +' &DP
FRUGHU KWWS  ELW  O\ D()H'Z JLYHDZD\ FRQWHVW
CM

MY

CY

CMY 57 #(YHU\ZKHUH7ULS
K 6XQGD\ 0DUFK  

57 #(YHU\ZKHUH7ULS 7KLV :HHN ,Q 7UDYHO (S  Z #FROOD]RSURMHFWV LV

QRZ DYDLODEOH RQ WKH ZHEVLWH KWWS  GLJJ FRPX5V(*

57 #NLWVRQ
6XQGD\ 0DUFK  

57 #NLWVRQ 57 #FROVRQZKLWHKHDG #GDYLGVKD\QH 7R KLGH WKH VRQ RI 6N\

ZDONHU IURP $QDNLQ 6N\ZDONHU ZHȃOO JLYH KLP WKH ODVW QDPH Ȇ6N\ZDONHU
Ȍ



! !

! !
 ! !

! !

57 #YHQWXUHKDFNV
6XQGD\ 0DUFK  

57 #YHQWXUHKDFNV 9LVLRQ LV IUHH 8QOLNH \RXU SURGXFW WHDP DQG WUDFWLRQ

\RX FDQ OLWHUDOO\ PDNH LW XS 6HH KWWS  M  PSD:7)

HDUWKKRXU , NLQGD FKHDWHG

6XQGD\ 0DUFK  

HDUWKKRXU , NLQGD FKHDWHG , PRYHG WLPH]RQHV $ IULHQG VHQW PH WKLV OLQN

KWWS  ZZZP\HDUWKKRXURUJ OLJKWVRII

C
(DUWK +RXU  MXVW VWDUWHG
M
6XQGD\ 0DUFK  

(DUWK +RXU  MXVW VWDUWHG 7XUQ RII WKH OLJKWV KWWS  ELW  O\  ←!
CM
GV&K1 HDUWKKRXU
MY

CY

CMY 57 #5DMB5
K 6XQGD\ 0DUFK  

57 #5DMB5 57 #FKHWK  7ZLWWHU 3LFN8S /LQHV Ǿ KWWS  ELW  O\  ←!

8J=( 57 #)OLSERRNV #/;/((

57 #DSOXVN
6XQGD\ 0DUFK  

57 #DSOXVN 7KH LQYHQWRU RI FKDWURXOHWWH DW P\ KRXVH OLYH RQ KWWS  ←!

ELW  O\ ]4KM,



! !

! !
 ! !

! !

$K 2IUD ʇ KWWS  EOLSIPaQSU

6XQGD\ 0DUFK  

$K 2IUD ʇ KWWS  EOLS  IPaQSU

<HV \HV \HV VE OLYH DW

KWWS  XVWUHDPE17M
6XQGD\ 0DUFK  

<HV \HV \HV VE OLYH DW KWWS  XVWUH  DPE17M

C
KWWS  WZLWJRRFRPPPT
6XQGD\ 0DUFK  
M

Y
KWWS  WZLWJRR  FRPPPT
CM

MY

CY KWWS  WZLWJRRFRPPPK
CMY 6XQGD\ 0DUFK  
K

KWWS  WZLWJRR  FRPPPK

57 #'DUN3KLORVRSKHU
6XQGD\ 0DUFK  

57 #'DUN3KLORVRSKHU 57 #PLFKDHOVKHUPHU 1LJKWOLQH GHEDWH ZLWK

#'HHSDN&KRSUD Ȇ'RHV *RG +DYH D )XWXUH"ȇ KWWS  ELW  O\ F+UPS



! !

! !
 ! !

! !

57 #JRRJOHVWXGHQWV
6XQGD\ 0DUFK  

57 #JRRJOHVWXGHQWV *RRJOH LV VWLOO KLULQJ 1HZ EORJ VHULHV RQ VWXGHQW RS

SRUWXQLWLHV DURXQG WKH JOREH VW XS 1 $PHU KWWS  ELW  O\ G][[FV

57 #POHYFKLQ
0RQGD\ 0DUFK  

57 #POHYFKLQ , KDYHQȃW VHHQ WKLV OHYHO RI VWDUWXS DFWLYLW\ DQG DQJHO LQ
YHVWLQJ LQ 69 VLQFH Ȃ :KHUHȃV 6HQ 'RGG WR KDOW WKLV LUUDWL Ȍ

C 57 #6PDUW3KRQHVB*60
M
0RQGD\ 0DUFK  
Y

57 #6PDUW3KRQHVB*60 1HZV 8SGDWH 6RIWEDQN 7R 5HOHDVH +7& 'HVLUH

CM
,Q $SULO Ǿ 6RIWEDQN -DSDQ LV JHDULQJ XS WR UHOHDVH +7&ȃV ODWHVW $QGURLG
MY
Ȍ
CY

CMY

K 57 #'HEEDV
0RQGD\ 0DUFK  

57 #'HEEDV 57 3ROO /RRN DW WKLV VLWH ZZZGHVLJQHUVFRQWHVWFRP DQG

WHOO XV LI WKH FRPSDQ\ VKRXOG NHHS WKH QDPH RU FKDQJH LW KWWS  SRO Ȍ

57 #0\*XUX
7XHVGD\ 0DUFK  

57 #0\*XUX Ȇ,I \RX ORYH PH RQO\ LQ P\ GUHDPV OHW PH EH DVOHHS IRUHY

HUȇ



! !

! !
 ! !

! !

, MXVW JRW P\ OHYHO  +HDGOLQHU EDGJH RQ %OLS

7XHVGD\ 0DUFK  

, MXVW JRW P\ OHYHO  +HDGOLQHU EDGJH RQ %OLSIP &KHFN RXW P\ VWDWLRQ

KWWS  EOLS  IP LQYLWH F\EU*36

57 #LQWHUORSHUW[
7XHVGD\ 0DUFK  

57 #LQWHUORSHUW[ $SSOH L3KRQH &'0$ 7HFKQRORJ\ 5HOHDVH 'DWH $SSOH

L3KRQH &'0$ 7HFKQRORJ\ 5HOHDVH 'DWH $SSOH LV VDLG WR EH ZRUNLQJ Ȍ
Ȍ

M
57 #/RWD\
Y
7XHVGD\ 0DUFK  

CM

57 #/RWD\ Ȇ*UHDW VSLULWV KDYH DOZD\V HQFRXQWHUHG YLROHQW RSSRVLWLRQ

MY
IURP PHGLRFUH PLQGVȇ $OEHUW (LQVWHLQ
CY

CMY

K , MXVW JRW P\ OHYHO  +RWVWUHDN EDGJH RQ %OLS

7XHVGD\ 0DUFK  

, MXVW JRW P\ OHYHO  +RWVWUHDN EDGJH RQ %OLSIP &KHFN RXW P\ VWDWLRQ

KWWS  EOLS  IP LQYLWH F\EU*36 QRZSOD\LQJ

GRZQORDGHG %OLS
7XHVGD\ 0DUFK  

GRZQORDGHG %OLSIP _ 3URSV JLYHQ WR F\EU*36 _ 3DJH  KWWS  WU LP ←!

72'J ZLWK 5HDO3OD\HU KWWS  UHDO FRPW



! !

! !
 ! !

! !

57 #ZRPHQ
7XHVGD\ 0DUFK  

57 #ZRPHQ /RRNLQJ IRU WKH SHUIHFW FRIRXQGHU" 2QO\  GD\V WR DSSO\

KWWS  IRXQGHUGDWLQJ  FRP RQ  E\ #MDOWHU #IRXQGHUGDWLQJ

57 #GDYHPFFOXUH
7XHVGD\ 0DUFK  

57 #GDYHPFFOXUH UW #ZRPHQ -RLQ XV 6RFLDO *DPLQJ  )XQ 3URI

LW  KWWS  ELW  O\ G\D()( SOD\ILUVW EXGG\SRNH VKXIIOHEUDLQ WKH
EURWK

M
$ IHZ JRRG 7ZLWWHU $SSV
7XHVGD\ 0DUFK  
Y

CM
$ IHZ JRRG 7ZLWWHU $SSV KWWS  ELW  O\ W<L YLD #DGGWKLV
MY

CY

CMY $SS 6KRZFDVH  0LQQD 7RQLJKW DW KWWS

K :HGQHVGD\ 0DUFK  

$SS 6KRZFDVH  0LQQD 7RQLJKW DW  KWWS  DSSVKRZFDVHPDUFK ←!

HYHQWEULWHFRP 6RXQGV IXQ

57 #%RRWVWUDS$VVRF ,%0 RIIHUV IUHH

VRIWZDUH IRU
:HGQHVGD\ 0DUFK  

57 #%RRWVWUDS$VVRF ,%0 RIIHUV IUHH VRIWZDUH IRU VWDUWXSV *OREDO (Q

WUHSUHQHXUV KWWS  ELW  O\ E5XQ+ #9HQWXUH%HDW #6WDUWXS'LJHVW



! !

! !
 ! !

! !

57 #RP
:HGQHVGD\ 0DUFK  

57 #RP FRQJUDWV #WLP\RXQJ IRU FORVLQJ VHULHV E IXQGLQJ KWWS ←!

 VRFLDOFDVW FRP #WUXHYHQWXUHV FRPSDQ\ ZH U GRLQJ HVSUHVVR VKRWV
#VLJKWJODVV

7KH &DVH
:HGQHVGD\ 0DUFK  

7KH &DVH DQG WKH 3ODQ IRU WKH 9LUWXDO &RPSDQ\ KWWS  ELW  O\  ←!
D+P

57 #9HQWXUH%HDW ,%0 RIIHUV IUHH VRIWZDUH

C

Y
IRU
:HGQHVGD\ 0DUFK  
CM

MY
57 #9HQWXUH%HDW ,%0 RIIHUV IUHH VRIWZDUH IRU VWDUWXSV WKURXJK QHZ *OREDO
CY (QWUHSUHQHXU SURJUDP KWWS  ELW  O\8Z*E
CMY

L3DG *LYHZD\
:HGQHVGD\ 0DUFK  

L3DG *LYHZD\ Ǿ KWWS  QHZVKDQGKHOGLWHPVFRPZLQ−D−DSSOH−LSDG ←!

−LSDG−JLYHDZD\



! !

! !
 ! !

! !

57 #0LUDQ0DULF
:HGQHVGD\ 0DUFK  

57 #0LUDQ0DULF #&\EU*36 $OUHDG\ JDYH LW WR KHU ,WȃV D FHOO SKRQH

ZLWK DQ LQWHJUDWHG SLFR SURMHFWRU LQVLGH RI LW /LNH KDYLQJ D ELJ V Ȍ

UG $QQXDO 6W
:HGQHVGD\ 0DUFK  

UG $QQXDO 6W 6WXSLGȃV 'D\ 3DUDGH _ 6) #MRKQQ\IXQFKHDS KWWS  ←!

ELW  O\ EV8Y;

C
57 #ILUHIR[
:HGQHVGD\ 0DUFK  
M

Y
57 #ILUHIR[ 'LG \RX NQRZ 1< ZDNHV XS ODWHU WKDQ &DOLIRUQLD" /HDUQ
CM
PRUH LQ RXU ILUVW HYHU 0R]LOOD 6WDWH RI WKH ,QWHUQHW 5HSRUW KWWS  P Ȍ
MY

CY

CMY 57 #VKHUYLQ
K
:HGQHVGD\ 0DUFK  

57 #VKHUYLQ ,ȃP RQ VKHUYLQFKDWURXOHWWHFRP 3OHDVH MRLQ PH WKHUH QRZ

IRU WHVWLQJ SXUSRVHV

5HDGLQJ
7KXUVGD\ $SULO  

5HDGLQJ Ȇ7RS )LYH +RW 7RSLFV DW &7,$ :LUHOHVV  _ $QDO\VW;SUHVV Ǿ

WKH -XQLSHU 5HVHDUFK %ORJȇ KWWS  WZLWWKLV FRPFN\L 



! !

! !
 ! !

! !

57 #ULFKEXJJHU  QHZ DQG VWXQQLQJ EODFN

7KXUVGD\ $SULO  

57 #ULFKEXJJHU  QHZ DQG VWXQQLQJ EODFN ZDOOSDSHUV IRU \RXU GHVNWRS

KWWS  ELW  O\ GP*DJ)

57 #-DVRQB3ROORFN
7KXUVGD\ $SULO  

57 #-DVRQB3ROORFN 7KH )LUVW L3DG 5HYLHZV $UH ,Q

ZZZJL]PRGRFRP E\ #*L]PRGR

C /LVWHQLQJ WR /RGRV (ULF 6KDZ 5HPL[

M 7KXUVGD\ $SULO  
Y

CM
/LVWHQLQJ WR /RGRV (ULF 6KDZ 5HPL[ Ǿ &LFDGD KWWS  PXJGM'K #PX
JDVKD
MY

CY

CMY
57 #DUULQJWRQ
K 7KXUVGD\ $SULO  

57 #DUULQJWRQ $SULO )RROV  7KH 'HILQLWLYH /LVW KWWS  WFUQ  FK ←!

F$/</8 ZDWFK IRU XSGDWHV

7KHUH DUH QR WZHHWV WR VKRZ ULJKW QRZ

7KXUVGD\ $SULO  

7KHUH DUH QR WZHHWV WR VKRZ ULJKW QRZ ,I \RX MXVW IROORZHG #IDYVWDU FKHFN
EDFN LQ D IHZ PLQXWHV



! !

! !
 ! !

! !

57 #'-B7$52
7KXUVGD\ $SULO  

57 #'-B7$52 8VWUHDP L3DG KWWS ←!

 ELW  O\ E1R;=*

57 #0;0$67(50.(
KWWS  \IURJFRPL\VFNM
7KXUVGD\ $SULO  

57 #0;0$67(50.( KWWS  \IURJ FRPL\VFNM

C
57 #'-B7$52
M
7KXUVGD\ $SULO  
Y

CM
57 #'-B7$52 57 #:D'D&KL
MY #'-B7$52 JRRJOH 6WUHHW YLHZ ' KWWS  DOWXUO ←!
CY
FRPYG
'
CMY

57 #:ULWHUV'LJHVW
7KXUVGD\ $SULO  

57 #:ULWHUV'LJHVW *R *R *R  PLQV OHIW  WKH IXQQLHVW $SULO

)RROV:ULWHUV KHDGOLQHV 7RS  WZHHWV :,1 VSHFLDO HGLWLRQ Ȃ*HW $Q $JHQW
Ȍ



! !

! !
 ! !

! !

57 #9HQWXUH%HDW *RWRPHHWLQJ EULQJV ZHE

)ULGD\ $SULO  

57 #9HQWXUH%HDW *RWRPHHWLQJ EULQJV ZHE FRQIHUHQFHV WR WKH L3DG

KWWS  ELW  O\QH,

, MXVW JRW P\ OHYHO  %URDGFDVWHU EDGJH RQ

%OLS
)ULGD\ $SULO  

, MXVW JRW P\ OHYHO  %URDGFDVWHU EDGJH RQ %OLSIP &KHFN RXW P\ VWDWLRQ

KWWS  EOLS  IP LQYLWH F\EU*36

M
KL
Y )ULGD\ $SULO  
CM

MY
KL 7KDQNV #.LQJVRIGDEHDW] \RX JX\V PDNH LW VRR #VNUHDPD #6LEHULD
#MRQ]NLH QLFH #.KDQJ'RQJȌ ʇ KWWS  EHWD  EOLS IPaQ]MX
CY

CMY

K
%OXUEHUDWL %ORJ{  3KRWRJUDSK\ %RRN
1RZ 2SHQ
6DWXUGD\ $SULO  

%OXUEHUDWL %ORJ{  3KRWRJUDSK\ %RRN 1RZ 2SHQ IRU (QWULHV KWWS ←!
 M  PSDQ%SO2



! !

! !
 ! !

! !

57 #GHDOVSOXV
0RQGD\ $SULO  

57 #GHDOVSOXV +H\ 5HWZHHW WKLV WR ZLQ D QHZ $SSOH 3URGXFW LQ DQ KRXU

'RQȃW IRUJHW WR IROORZ #GHDOVSOXV 'HWDLOV KHUH KWWS  ELW  O\  Ȍ

57 #&KXUFK2I0L[
0RQGD\ $SULO  

57 #&KXUFK2I0L[ #&\EU*36 )ROORZLQJ \RX YLD #'-&RORJQHȃV FKDWV

ZLWK \RX WKURXJK #0U7ZHHW /RRNLQJ IRUZDUG WR \RXU WZHHWV

C 57 #-DPLH&UDJHU
M :HGQHVGD\ $SULO  
Y

CM
57 #-DPLH&UDJHU 6D\ :KDW" <HV <RX +HDUG 5LJKW Ǿ =\QJD &RXOG %H
:RUWK  %LOOLRQ Ǿ KWWS  ZSPHS3F−V9Y YLD #JLJDRP
MY

CY

CMY
57 #'HHSDN&KRSUD
K :HGQHVGD\ $SULO  

57 #'HHSDN&KRSUD %HDXWLIXO P\ IULHQG 57 #.LQJ6LGKDUWK #'HHSDN

&KRSUD *KXODP $OL -DJMLW 6LQJK $ELGD 0HQKGQL +DVDQ /LQNLQ 3DUN 
0\ 2 Ȍ

57 #PVIWFLWL]HQVKLS
7KXUVGD\ $SULO  

57 #PVIWFLWL]HQVKLS 35 0LFURVRIW DQQRXQFHV &50 IRU QRQSURILWV DQG

1*2V KWWS  ELW  O\ GS\(. FUP QRQSURILW 1*2 &65



! !

! !
 ! !

! !

57 #9HQWXUH%HDW
7KXUVGD\ $SULO  

57 #9HQWXUH%HDW $G ILUP VD\V L3DG VDOHV KDYH WRSSHG  DW WKH

YHU\ OHDVW KWWS  ELW  O\ E]S;Z E\ #GHDQWDN

57 #5HY5XQ:LVGRP
7KXUVGD\ $SULO  

57 #5HY5XQ:LVGRP 7KH RQO\ UHDVRQ SSO WU\ WR SXOO X GRZQ LV EHFDXVH

\RXUH XS VR KLJK WKDW WKH\ &$17 6(( <28 NHHSJRLQJ

C
, OLNH %UL]]O\
M
7KXUVGD\ $SULO  
Y

, OLNH %UL]]O\ DQG , WKLQN \RX ZRXOG WRR KWWS  ELW  O\ D=P:KN
CM

MY

CY
7ZHHW &KLUS{KWWS  ELW  O\ F1SL7 #WDJ[WD
CMY
7KXUVGD\ $SULO  
K

7ZHHW &KLUS{ KWWS  ELW  O\ F1SL7 #WDJ[WD

57 #NDWLHIHKUHQ
7KXUVGD\ $SULO  

57 #NDWLHIHKUHQ 57 #OL]JDQQHV  PLOOLRQ L3DG DSSV VROG VR IDU



! !

! !
 ! !

! !

OLVWHQLQJ WR Ȇ7KH ,QYLVLEO 6NUDWFK 3LNO]

)ULGD\ $SULO  

OLVWHQLQJ WR Ȇ7KH ,QYLVLEO 6NUDWFK 3LNO] Ǿ 0DNLQȃ 0H ,WFK ȇ ʇ

KWWS  EOLS IPaRFWO

57 #PFKHODQJHO
)ULGD\ $SULO  

57 #PFKHODQJHO 57 #KDWPDQL )) #6PDUW7LSSV #6FREOHL]

HU #FKULVIOHFN #FKULVPHVVLQD #IUHGZLOVRQ #.DWH$W6WDWH #PDUVKDOON
#6KRUW+DLUHG* Ȍ

M
57 #V\ELBV\EL
)ULGD\ $SULO  
Y

CM

57 #V\ELBV\EL WKDQN \RX DOO KDYH D ORYHO\ ZHHNHQG  ʇ KWWS  ←!

MY
EOLS IPaRF[\
CY

CMY

K 57 #-DPLH&UDJHU
)ULGD\ $SULO  

57 #-DPLH&UDJHU .RQWDJHQW 5DLVHV  0LOOLRQ )RU )DFHERRN $QDO\WLFV

3ODWIRUP Ǿ KWWS  WFUQ  FKFO9GW4

57 #1<(:HHN 7KRVH ZKR EHOLHYH

KWWS  RZO\ZNYZ
)ULGD\ $SULO  

57 #1<(:HHN 7KRVH ZKR EHOLHYH KWWS  RZO\ZNYZ



! !

! !
 ! !

! !

/HDUQ 6RFLDO( :RUNVKRSV

)ULGD\ $SULO  

/HDUQ 6RFLDO( :RUNVKRSV Ǿ KWWS  VKDU  HV PT8II 7KDQNV <LQ <LQ DW 3HQ
GR DQG #PLNHGHOSRQWH

&DOOLQJ $OO ,QQRYDWRUV _ )RUXP 1RNLD

)ULGD\ $SULO  

&DOOLQJ $OO ,QQRYDWRUV _ )RUXP 1RNLD KWWS  ELW  O\ EG82V YLD #DG
GWKLV VRFHQW KWWS  ELW  O\ (33= (FR%HLQJ *UHHQ *R JR

C 57 #UZZ
M )ULGD\ $SULO  
Y

CM
57 #UZZ 7KH :HE 1HHGV <28 7HOO XV ZKDW \RX ZDQW EXLOW ZLWK D :HE
RI 'DWD LQ RXU RSHQ WKUHDG KWWS  ELW  O\ G$T
MY

CY

CMY
57 #Q\WLPHVWHFK
K 6DWXUGD\ $SULO  

57 #Q\WLPHVWHFK (YDQ :LOOLDPVȃV 0HVVDJH WR 7ZLWWHU 'HYHORSHUV

KWWS  Q\WL  PV%<,:

, ZDQW WR JR WR &KLUS
6DWXUGD\ $SULO  

, ZDQW WR JR WR &KLUS WKH 2IILFLDO 7ZLWWHU 'HYHORSHU &RQIHUHQFH KWWS ←!

 FKLUS  WZLWWHU  FRP



! !

! !
 ! !

! !

:KLOH RQ WKH VXEMHFW RI )DFHERRN %

6DWXUGD\ $SULO  

:KLOH RQ WKH VXEMHFW RI )DFHERRN % 0\ FRXVLQ <XVHII LV +HDG %UHZHU

+HDG 'LVWLOOHU 9 3#%3%UHZLQJTXLWH D QLFH JURXS

6XUIHG RII WR IE)XQG

6DWXUGD\ $SULO  

6XUIHG RII WR IE)XQGD 0 VHHG IXQG $SS 'HYV RQ )DFHERRN $SS &KDO
OHQJH. I\L #VDPSXOODUD KWWS  ELW  O\ FFGIJ/

C
57 #KQVKDK 'HYHORSHUV DUH D YHU\ YRFDO
M FURZG
Y
6DWXUGD\ $SULO  

CM

57 #KQVKDK 'HYHORSHUV DUH D YHU\ YRFDO FURZG

MY

CY

CMY
57 #3RF/\
K
6DWXUGD\ $SULO  

57 #3RF/\ #&\EU*36 ,I \RXȃUH ORRNLQJ IRU WZLWWHU GHYHORSPHQW SURMHFWV

\RX FDQ GR RQOLQH WU\ WKLV VHUYLFH KWWS  ELW  O\ D8$31[ &KHHUV

'DYLG /HWWHUPDQȃV GRLQJ WRS  7ZHHWV

6DWXUGD\ $SULO  

'DYLG /HWWHUPDQȃV GRLQJ WRS  7ZHHWV \RX VOHHS 7ZHHW (YHQ $VK
WRQ .XWFKHU #DSOXVNV WKLQNV \RX 7ZHHW WRR PXFK



! !

! !
 ! !

! !

57 #=80$),6+ #VSLUDOGHOLJKW

6DWXUGD\ $SULO  

57 #=80$),6+ #VSLUDOGHOLJKW

57 #PDULDJULQHYD
6DWXUGD\ $SULO  

57 #PDULDJULQHYD )RU KRZ PXFK 7ZLWWHU ERXJKW 7ZHHWLH"

C
-XVW IXQG WKLV LQ P\ ,098 IHHG
M
6DWXUGD\ $SULO  
Y

CM
-XVW IXQG WKLV LQ P\ ,098 IHHG 6WDUWXS /HVVRQV /HDUQHG Ȃ KWWS  ←!
MY ZZZVOOFRQIFRP %DVHOLQH .LVVPHWULFV %LVVSDUN DQG -XVWLQ 79
CY

CMY

K
, JRW DQ HPDLO WRGD\ IURP 6HGR
6DWXUGD\ $SULO  

, JRW DQ HPDLO WRGD\ IURP 6HGR -DSDQ 79 VROG LQ DXFWLRQIRU DERXW

N

5H
6DWXUGD\ $SULO  

5H 6)6WDUWXSV (YHQW ,WȃV KHUH ELWO\,F;E 098 DQG %ORJ{ ,098
:LOO 6SRQVRU D IHZ 6FKRODUV



! !

! !
 ! !

! !

)RXQG WKLV LQ ,098

6DWXUGD\ $SULO  

)RXQG WKLV LQ ,098ȇ6WDUWXS /HVVRQV /HDUQHGȇ (YHQW %DVHOLQH ,098

#%L]6SDUN #.,66PHWULFV DQG #-XVWLQ79 VOOFRQIFRP (SLF

7KH 
6DWXUGD\ -XO\  

7KH 0LQXWH ,QWHUYLHZ Ǿ %XVLQHVV $QJHO (LOHHQ %XUELGJH Ǿ KWWS  ←!

ELW  O\ D*&R54

C
)ZG
6DWXUGD\ -XO\  
M

Y
)ZG 7KH 3RZHU 2I 3RVLWLYLW\ ,Q 6RFLDO 0HGLD Ȍ KWWS  II LP ←!
CM QV;(V
MY

F\EUJSV Ǿ ZZZLPSOXFRP
CY

CMY

7XHVGD\ -XO\  

K

KWWS  ZZZLPSOXFRPXVHUF\EUJSV" WLWOH F\EUJSVEORJ ←!

GHVFULSWLRQ +HUHVLVP\ILUVWZRUGSUHVVEORJVLWH,W ←!
VLQSURJUHVV'$'$KWWS$))F\EUJSV ←!
ZRUGSUHVVFRP 
+HUHȃV RQH RI WKH EORJV ,ȃYH EHHQ ZRUNLQJ RQ
, DP WU\LQJ VRPH WHPSODWHV RXW



! !

! !
 ! !

! !

7KDWȃV ROG ]LS FRGH

KWWS  WZLWJRRFRPJMGI
:HGQHVGD\ -XO\  

7KDWȃV ROG ]LS FRGH KWWS  WZLWJRR  FRPJMGI

+RZȃV WKH WUDIILF LQ WKH FORXGV WRQLJKW

:HGQHVGD\ -XO\  

+RZȃV WKH WUDIILF LQ WKH FORXGV WRQLJKW" , QRWLFHG VRPH H[WUD WUDFWRU EHDP
WHFKQRORJ\ ZDV EHLQJ WHVWHG ODVW QLJKW IURP DW OHDVW RQHȌ

C
9LGHR FKDW IRU \RXU EORJ %ORJJHU 7LSV DQG
7ULFNV
M

Y
7KXUVGD\ -XO\  
CM

MY
KWWS  ZZZ EORJJHUWLSVDQGWULFNV FRPYLGHR−FKDW−IRU− ←!
CY \RXU−EORJKWPO
CMY

57 #0X]DFKDQ
K

)ULGD\ -XO\  

57 #0X]DFKDQ $ -DSDQ 3KRWR SHU 'D\ Ǿ +LGGHQ %HWZHHQ 6N\VFUDSHUV

7VXNXGR 6KULQH KWWS  ELW  O\ (R['%



! !

! !
 ! !

! !

, OLNHG D <RX7XEH YLGHR ǿ +XGVRQ

0RKDZNH
)ULGD\ -XO\  

, OLNHG D <RX7XEH YLGHR ǿ +XGVRQ 0RKDZNH Ǿ )86( Ǿ )XOO\ )ODUHG

KWWS  \RXWXEHV&''U(<−TOJ"D

<HV #'-/23=
)ULGD\ -XO\  

<HV #'-/23= Ȇ#WLNDO  +DSS\ )ULGD\ P\ GHDUȇ ʇ KWWS  EOLS  IP ←!

aQPNK

M :HȃUH UXQQLQJ RXW RI LQWHUQHW DGGUHVVHV

Y )ULGD\ -XO\  
CM

MY
:HȃUH UXQQLQJ RXW RI LQWHUQHW DGGUHVVHV Ǿ KWWS  ELW  O\ IM1% FQQ
CY

CMY
+XGVRQ 0RKDZNH Ǿ )86( Ǿ )XOO\ )ODUHG
6DWXUGD\ -XO\  
K

KWWS  ZZZ\RXWXEHFRPZDWFK"Y V&''U(<−TOJ IHDWXUH ←!

DXWRVKDUH
, OLNHG D <RX7XEH YLGHR )8//< )86(' Ǿ  0,.( 02+$:.(
+XGVRQ 0RKDZNHȃV Ȇ)86(ȇ IURP KLV DOEXP Ȇ%XWWHUȇ RXW QRZ RQ :DUS
5HFRUGV ZLWK 0LNH 0R &DSDOGLȃV VHFWLRQ IURP /DNDLȃV ILOP Ȇ)XOO\Ȍ



! !

! !
 ! !

! !

0RORNR Ǿ 7KH 7LPH LV 1RZ  &DQ  5HPL[

6DWXUGD\ -XO\  

KWWS  ZZZ\RXWXEHFRPZDWFK"Y BU82;KE.(R IHDWXUH ←!

DXWRVKDUH
, OLNHG D <RX7XEH YLGHR 0RORNR Ǿ 7KH 7LPH LV 1RZ  &DQ  5HPL[

7KLV ORRNV FRRO

KWWS  VPDOUWXPEOUFRPDUFKLYH
7XHVGD\ $XJXVW  

7KLV ORRNV FRRO KWWS  VPDOU  WXPEOU  FRPDUFKLYH 

C

,ȃP DWWHQGLQJ 6UDPDQD 0LWUD 00

M

CM
6WUDWHJ\
7XHVGD\ $XJXVW  
MY

CY

,ȃP DWWHQGLQJ 6UDPDQD 0LWUD 00 6WUDWHJ\ 5RXQGWDEOH_$XJ WK DP

CMY
37 ǿ KWWS  VWUDWHJ\URXQGWDEOH −DXJ HYHQWEULWH  FRP
K

$KȌ7HWKHULQJȌ
7XHVGD\ $XJXVW  

$KȌ7HWKHULQJȌ

&KHFN RXW 1HR3ODQHW RQ :LGJHWER[ KWWS

7XHVGD\ $XJXVW  

&KHFN RXW 1HR3ODQHW RQ :LGJHWER[ KWWS  ZE[PHZGYRE



! !

! !
 ! !

! !

&DOO IRU (QWULHV _ 7KH %XFNPLQVWHU )XOOHU

7XHVGD\ $XJXVW  

&DOO IRU (QWULHV _ 7KH %XFNPLQVWHU )XOOHU &KDOOHQJH  LV QRZ RSHQ 1RW
VXUH LI \RX JRW WKH HPDLOȌ#FUDLJQHZPDUN

+H\ ,ȃP EDFN IRU WKDW %UL]]O\ SLFQLF

7XHVGD\ $XJXVW  

+H\ ,ȃP EDFN IRU WKDW %UL]]O\ SLFQLF KWWS  EUL]]  O\ *9J3$

57 #VDPUHLFK
C 7XHVGD\ $XJXVW  
M

Y 57 #VDPUHLFK 5HPHPEHU WKH HSLVRGH RI WKH 6LPSVRQV ZKHUH /LVD JHWV

CM
PDUULHG LQ WKH IXWXUH" &KHFN RXW WKH GDWH LQ WKLV SLFWXUH KWWS  WL Ȍ
MY

CY
2N
CMY
7XHVGD\ $XJXVW  
K

2N :KHUH WKH SDWHQW RIILFH" , KDYH DW OHDVW WZR GHYLFHV WKDW ,ȃG OLNH WR
LQYHQW

&KHFNHG RXW WKH 9LVWD /LYH %HWD

7XHVGD\ $XJXVW  

&KHFNHG RXW WKH 9LVWD /LYH %HWD*URXSV ,0 , VHW XS D TXLFN RQH )HHO
IUHH WR ORJLQȌ KWWS  JURXSV−VN\GULYHJURXSV OLYH  FRP



! !

! !
 ! !

! !

, ORYH WKLV GD\

7XHVGD\ $XJXVW  

, ORYH WKLV GD\

57 #FUDLJQHZPDUN
7XHVGD\ $XJXVW  

57 #FUDLJQHZPDUN 57 #EURQW\PDQ #FUDLJQHZPDUN Ȇ7KH FXUH IRU

ERUHGRP LV FXULRVLW\ 7KHUH LV QR FXUH IRU FXULRVLW\ȇ 'RURWK\ 3DUNHU

/DVW QLJKW , ZDV WKLQNLQJ WKDW 7ZLWWHU LV ELW

C
7XHVGD\ $XJXVW  
M

Y /DVW QLJKW , ZDV WKLQNLQJ WKDW 7ZLWWHU LV ELW OLNH D &XOW

CM

9RWH RQ WKLV LGHD

MY

CY
7XHVGD\ $XJXVW  
CMY

K
9RWH RQ WKLV LGHD /DUJHVW *UHHQ HFR&DVLQR6RODU 6PDUWJULG HFRFKDO
OHQJH KWWS  ELW  O\ GG*/N;

6DOHV IRUFH PDQDJHPHQW

7XHVGD\ $XJXVW  

KWWS  ZZZL−VQDSVKRWFRPHQKRPHDVS[



! !

! !
 ! !

! !

…OHVXQG 1RUZD\ LLPJXUFRP

7XHVGD\ $XJXVW  

KWWS  FKXSDJDWR EORJVSRW  FRPEORJ−SRVWBKWPO

57 #-XLVWMD
7XHVGD\ $XJXVW  
C

M
57 #-XLVWMD 0LM NOHLQH GUDNHQGRGHU KWWS  WZLWSLF  FRPEFE
Y

CM

MY 7ZLWWHU 3V\FK 3URILOH RI #F\EUJSV

CY 7XHVGD\ $XJXVW  
CMY

K
7ZLWWHU 3V\FK 3URILOH RI #F\EUJSV KWWS  7ZHHW3V\FKFRP"T F\EUJSV
IURP #GDQ]DUUHOOD

*RRJOH IHHG IRU

ȆKWWS  VPDOUWXPEOUFRPDUFKLYH
7XHVGD\ $XJXVW  

KWWS  VPDOU  WXPEOU  FRPDUFKLYH

*RRJOH ZLOO ZDWFK IRU FKDQJHV LQ Ȇ KWWS  VPDOU  WXPEOU FRPȇDUFKLYH DQG
VXPPDUL]H WKHP IRU \RX



! !

! !
 ! !

! !

F\EUJSV EORJ
:HGQHVGD\ $XJXVW  

KWWS  F\EUJSV  ZRUGSUHVVFRP

7ULSV DURXQG WKH ,QWHUQHW

L3DG $SS
:HGQHVGD\ $XJXVW  

CM

MY

CY

CMY

K
*RRJOH 6D\V 0RELOH $SS 6WRUHV +DYH 1R
)XWXUH _ *DGJHW /DE _ :LUHGFRP
7KXUVGD\ $XJXVW  

KWWS  ZZZZLUHGFRPJDGJHWODEJRRJOH−DSS−VWRUH

:KDW LV WKH IXWXUH RI PRELOH"

*RRJOH LV ULJKW :HE DSSV ZLOO ZLQ DJDLQVW QDWLYH



! !

! !
 ! !

! !



*RRJOH LV ZURQJ $SS 6WRUHV ZLOO VWLOO EH ELJ

Ȍ

6FKPLGW VD\V $QGURLG VDOHV KDYH PRYHG WR


7KXUVGD\ $XJXVW  

6FKPLGW VD\V $QGURLG VDOHV KDYH PRYHG WR  D GD\ +XJH

6R
C 7KXUVGD\ $XJXVW  
M

Y
6R , ZRQGHU ZKRȃV KDG WKH PRVW EURZVHU ZLQGRZV DQG WDEV DW RQFH , WKLQN
,ȃP FORVH WR EHDWLQJ D SHUVRQDO UHFRUG
CM

MY

CY
*RRJOH 6D\V 0RELOH $SS 6WRUHV +DYH 1R
CMY

)XWXUH _ *DGJHW /DE _ :LUHGFRP

K
7KXUVGD\ $XJXVW  

KWWS  VPDOU  WXPEOU  FRPSRVW

6KDUHG E\ F\EUJSV
7KLV SRVW ZDV IURP Ȃ , FOLFNHG VHQG WR ERRNPDUN DQG LW ZHQW
WR %X]] E\ PLVWDNH *RRJOH ZHQW (QWHUSULVH ZLWK WKH EDVLF FRUH
VXLWH

*RRJOH 6D\V 0RELOH $SS 6WRUHV +DYH 1RȌ



! !

! !
 ! !

! !

KWWS
)ULGD\ $XJXVW  

KWWS  ZZZFUXQFKEDVHFRPSHUVRQPD[−OHYFKLQ VOLGHV KWWS  ELW ←!

 O\ F;QK3 YLD #DGGWKLV

7$,<2 6SHFLDO  6DNXUD  &KHUU\ %ORVVRPV


)ULGD\ $XJXVW  

KWWS  IHHGSUR[\JRRJOHFRPaU$-DSDQHVH%RRNaE]L*DI<MQ* ←!
WDL\R−VSHFLDO−VDNXUD−FKHUU\−EORVVRPVKWPO

CM

MY

CY

CMY

7$,<2 6SHFLDO 6DNXUD -DSDQHVH &KHUU\ %ORVVRPV  )OHXUV GH FHULVLHUV

MDSRQDLV 6XPPHU  $QLPD Qp 7RN\R +HLERQVKD  ǿ ș
'HVFULSWLRQ ǿ ,Qp  [  [ FP Ȍ



! !

! !
 ! !

! !

5HDGLQJ
)ULGD\ $XJXVW  

5HDGLQJ =KX\R Ǿ 7RROV IRU \RXU VRFLDO QHWZRUNV KWWS  ]KX\RFRP ←!

:1

, MXVW YRWHG IRU WKLV SKRWR

6DWXUGD\ $XJXVW  

, MXVW YRWHG IRU WKLV SKRWR FKHFN LW RXW KWWS  WZHHWSKRWR  FRP ←!


C *( HFRFKDOOHQJH
M :HGQHVGD\ 6HSWHPEHU  
Y

CM
9RWH RQ WKLV LGHD &KDUJH \RXU PRELOH E\ ZDONLQJ HFRFKDOOHQJH KWWS ←!
 ELW  O\ (P,%:
MY

CY

CMY
KWWS  WZLWJRRFRPR[W
K
:HGQHVGD\ 6HSWHPEHU  

KWWS  WZLWJRR  FRPR[W



! !

! !
 ! !

! !

H[FHVVLYHERRNVKHOI
7KXUVGD\ 6HSWHPEHU  

CM

MY
H[FHVVLYHERRNVKHOI WKHVLONULEERQ WHDFKLQJOLWHUDF\ LȃP LQ ORYH
ERRNORYHU YLD FRQDQWKHOLEUDULDQ
CY

CMY

K
&DQ \RX VHH WKLV TXHVWLRQ"
6DWXUGD\ 2FWREHU  

<HV 1RZ , FDQ &DQ \RX"

FKHFNHG RXW KWWS

6DWXUGD\ 2FWREHU  

FKHFNHG RXW KWWS  FDOOVSLQQHU FRP D UDQGRP FDOO JHQHUDWRU EXW QR RQH
ZDV RQ LW DSSDUHQWO\



! !

! !
 ! !

! !

6FLHQWLVWV GLVFRYHU IRVVLO RI ILYH

6XQGD\ 2FWREHU  

6FLHQWLVWV GLVFRYHU IRVVLO RI ILYHIRRW WDOO SHQJXLQ KWWS  EEFFRXN ←!

QHZVVFLHQFH−HQYLURQPHQW− (HN 'DPLHQ0F.HQQD

2FWREHU  
6XQGD\ 2FWREHU  

M
$UH \RX HQMR\LQJ \RXU ZHHNHQG" /RWD\
Y
6XQGD\ 2FWREHU  
CM

MY
$UH \RX HQMR\LQJ \RXU ZHHNHQG" /RWD\
CY

CMY

K
9LGHR
6XQGD\ 2FWREHU  

6FUDWFKLQ



! !

! !
 ! !

! !

57 #QDR\XNLBVDVDNL
6XQGD\ 2FWREHU  

57 #QDR\XNLBVDVDNL #=80$),6+ #WDWHVKLQDBUDGLR

ȌȌ
Ȍ
=80$),6+

2FWREHU  
6XQGD\ 2FWREHU  

CM

MY

CY

CMY

.DQ\H :HVW LQ WKH VWXGLR

6XQGD\ 2FWREHU  

.DQ\H :HVW LQ WKH VWXGLR KWWS  W FR+J0D17 YLD #$GG7KLV

9LGHR
6XQGD\ 2FWREHU  

ZKR NQRZ GRHV WRPRUURZ WKH IXWXUH



! !

! !
 ! !

! !

<DOH 6WXG\ Ǿ 7KH . 5ROH[ 

6XQGD\ 2FWREHU  

'R SHRSOH UHDOO\ EX\ . 5ROH[ȃV RQ 2YHUVWRFNFRP"

Y

CM
,ȃP YHU\ DQWLVSDP ,W MXVW VHHPV OLNH D ZDVWH RI WDOHQW IRU EURDGFDVWLQJ
MY

CY

CMY
KWWSVWDUWXSVFRPFURZGIORZHUIXQG
K
7XHVGD\ 2FWREHU  

KWWS  VWDUWXSV  FRPFURZGIORZHUIXQG

7KH OLQN

7KDQNV KWWS  OQNGLQ1X$WZ

7XHVGD\ 2FWREHU  

7KDQNV KWWS  OQNG  LQ 1X$WZ



! !

! !
 ! !

! !

57 #UREFKHQJ
7XHVGD\ 2FWREHU  

57 #UREFKHQJ 57 #TXLQWRQZDOO 6RUU\ 2UDFOH \RX FDQȃW ER[ WKH FORXG

KWWS  UZZWZEMTJS0 6DOHVIRUFH IRUFHGRWFRP /2/ 7KH\ FDQ WU\Ȍ

0\ 7ZLIILFLHQF\ VFRUH LV 

7XHVGD\ 2FWREHU  

0\ 7ZLIILFLHQF\ VFRUH LV  :KDWȃV \RXUV" KWWS  WZLIILFLHQF\  ←!

FRP

C &URZG&RQI 7RGD\
M
KWWS  DPSOLI\FRPXETRV
Y
7XHVGD\ 2FWREHU  
CM

MY &URZG&RQI 7RGD\ KWWS  DPSOLI\ FRPXETRV

CY

SODQ $QJHO3DG 6WDUWXS 6FKRRO $IWHU 3DUW\

CMY


7XHVGD\ 2FWREHU  

SODQ $QJHO3DG 6WDUWXS 6FKRRO $IWHU 3DUW\  6DQ )UDQFLVFR FORVH WR
6RXWK 3DUN 6DW 2FW   SP KWWS  SODQFD  VW &XL



! !

! !
 ! !

! !

$VKWRQ .XWFKHU
7XHVGD\ 2FWREHU  

KWWS  PDVKDEOHFRPWDJ  DVKWRQ−NXWFKHUTXRWHV

7KH QHZ IXQGV DUH ODUJHO\ JRLQJ WRZDUGV VDODULHV :HȃUH
DGGLQJ D FRXSOH RI GHYHORSHUV VR ZH FDQ FUDQN RXW PRUH
SURGXFW

SODQ :RPHQ 
:HGQHVGD\ 2FWREHU  

SODQ :RPHQ  6WDUWXS &RPSHWLWLRQ 9LUWXDO 6DW 2FW   DP
KWWS  SODQFD  VW '(
C

Y 9LHZLQJ #MXVWLQWY ǿ 6WDUWXS 6FKRRO RQ

CM -XVWLQ
MY
6XQGD\ 2FWREHU  
CY

9LHZLQJ #MXVWLQWY ǿ 6WDUWXS 6FKRRO RQ -XVWLQWY KWWS  M−WYPH ←!

CMY
WIL
K

57 #GDYHPFFOXUH
7XHVGD\ 2FWREHU  

57 #GDYHPFFOXUH 6PDOO :RUOG $IWHU $OO JUHDW IHHOLQJ WR YLVLW DOPRVW DQ\
PDMRU PHWUR 1 $PHULFD$VLD(8 ILQG FRRO VWDUWXS WR KDQJ ZLW Ȍ



! !

! !
 ! !

! !

57 #MRVKHOPDQ
7XHVGD\ 2FWREHU  

57 #MRVKHOPDQ 57 #7HFK&UXQFK &DXVHV 5DLVHV $QRWKHU  0LOOLRQ

7R +HOS 6SUHDG 3KLODQWKURS\ 2QOLQH KWWS  W  FRPR3[1 JR -RH DQG
WHDP

/LEHUDWLRQ 7DOLE DQG 0DGOLE

7XHVGD\ 2FWREHU  

/LEHUDWLRQ 7DOLE DQG 0DGOLE

C
KWWS
M
:HGQHVGD\ 2FWREHU  

KWWS  WLQ\XUO  FRPMZM ,QWHO ,QYHVWV %LOOLRQV ,Q %XLOGLQJ 6XSHU7LQ\

&KLSV
CM

MY

CY

CMY 0DNH L3KRQH JDPHV IRU RQO\  ZLWK

K
#JDPHVDODG
:HGQHVGD\ 2FWREHU  

0DNH L3KRQH JDPHV IRU RQO\  ZLWK #JDPHVDODG 6RXQGV IXQ

7ZLWDULR
:HGQHVGD\ 2FWREHU  

7ZLWDULR 0\ 7ZLWWHU GLDU\ȌȌ KWWS  ELW  O\  F\EUGLDU\



! !

! !
 ! !

! !

57 #VWVKDQN
:HGQHVGD\ 2FWREHU  

57 #VWVKDQN ,ȃP VWLOO DPXVHG WKDW <DKRR 0HVVHQJHU &WUO* LQLWLDWHV D

EX]] MXVW OLNH &WUO* RQ 97 WHUPLQDOV UDQJ WKH %(/ KWWS  ELW Ȍ

%DQNV KWWS  WZLWJRRFRPSXU]G

:HGQHVGD\ 2FWREHU  

%DQNV KWWS  WZLWJRR  FRPSXU]G

57 #+HLOHPDQQ +HOOR QHWERRN PDUNHW

C 7KXUVGD\ 2FWREHU  
M

Y
57 #+HLOHPDQQ +HOOR QHWERRN PDUNHW
CM

6RPHWKLQJ VHHPV VORZ RQ WKH QHWZRUN

MY

CY
7KXUVGD\ 2FWREHU  
CMY

K
6RPHWKLQJ VHHPV VORZ RQ WKH QHWZRUN ,V LW 7ZLWWHUVLGH RU P\ VLGH" 7ZLWWHU
LV OLNH D FRQYHUVH ,0WKH Ȇ0,ȇ

,I RQH ZHȃUH WR FDOFXODWH DOO WKH WLPH VSHQW LQ

6DWXUGD\ 1RYHPEHU  

,I RQH ZHȃUH WR FDOFXODWH DOO WKH WLPH VSHQW LQ DUJXPHQWGHEDWH GHGXFW

WKDW IURP WKH GHILFLWȌZKDW ZRXOG LW EH" 7ULOOLRQV"



! !

! !
 ! !

! !

+L 0RUWH]D
6DWXUGD\ 1RYHPEHU  

+L 0RUWH]D +HUHȃV VRPH LQWHUHVWLQJ FRPPHQWV RQ SDWHQWVȌ KWWS  ←!

OQNG  LQ WG.8*B

6R <RX :DQW WR 6WDUW D :HE 6WDUWXS

6DWXUGD\ 1RYHPEHU  

6R <RX :DQW WR 6WDUW D :HE 6WDUWXS" KWWS  W FRK==D%J+ YLD #MRVKODP

/2/

C
NQRZQ
6XQGD\ 1RYHPEHU  
M

NQRZQ Ǿ GHILQLWLRQ DQG PHDQLQJ IURP :RUGQLN KWWS  W  FR,D),Y YLD

Y

CM
#:RUGQLN
MY

CY

CMY
57 #FKXSDJDWRSUHVV
K
6XQGD\ 1RYHPEHU  

57 #FKXSDJDWRSUHVV FRUSV WKDW SD\  LQ WD[HV KWWS  ELW  O\  ←!

ZS*-

*RQ]DOH] IRU 0D\RU KWWS

6XQGD\ 1RYHPEHU  

*RQ]DOH] IRU 0D\RU KWWS  W  FR'60/8IJ &RRO *R 0DWW



! !

! !
 ! !

! !

57 #VDYRQQQ
6XQGD\ 1RYHPEHU  

57 #VDYRQQQ ZLVK MLPP\ ZDOHV ZRXOG TXLW JD]LQJ DW PH ZLWK WKRVH SLHUF
LQJ EOXH H\HV ZLNLSHGLD

, MXVW GRQDWHG  WR :LNLSHGLD

6XQGD\ 1RYHPEHU  

, MXVW GRQDWHG  WR :LNLSHGLD +HOS NHHS LW IUHH NHHSLWIUHH KWWS  ←!

ELW  O\ :3JLYH

C &KHFN WKLV RXW

0RQGD\ 1RYHPEHU  
M

&KHFN WKLV RXW Ǿ <RGD YLVLWV 5RGLQKRRG Ǿ KWWS  URGLQKRRGFRP\RGD ←!

CM
−YLVLWV−URGLQKRRG , ORYH LW
MY

CY

CMY 7KH 6XQ KWWS  WZLWJRRFRPTQDY

K 0RQGD\ 1RYHPEHU  

7KH 6XQ KWWS  WZLWJRR  FRPTQDY

9RWH LQ WKH QH[W  KRXUV WR SLFN WKH ZLQQHU

RI
7XHVGD\ 1RYHPEHU  

9RWH LQ WKH QH[W  KRXUV WR SLFN WKH ZLQQHU RI *OREDO 6WDUWXS %DWWOH :HHN
 KWWS  W FRY*%784= YLD #0DUF1DJHU &RRO



! !

! !
 ! !

! !

57 #6WDUWXS%DWWOH
7XHVGD\ 1RYHPEHU  

57 #6WDUWXS%DWWOH /HWȃV JHW WRȌ " .HHS 57LQJ WKH OLQN KWWS ←!
 ELW  O\ EX,R&- 57 #VKDQHUHLVHU DERXW WR UHDFK  YRWHV IRU VW Ȍ

'DYH 0F&OXUH RQ DQJHO DQG 9& EXEEOHV

KWWS
:HGQHVGD\ 'HFHPEHU  

'DYH 0F&OXUH RQ DQJHO DQG 9& EXEEOHV KWWS  W  FR1&PQQ+ YLD #YD
WRUWY :DWFKLQJ QRZ

M
7LS #7HFKPHPH KWWS
Y
:HGQHVGD\ 'HFHPEHU  
CM

MY 7LS #7HFKPHPH KWWS  WFUQ  FKI*I&N: 0R3XE 7KH 'RXEOH&OLFN )RU

CY
0RELOH *HWV 6HHG )XQGLQJ )URP $FFHO
CMY

K
7KLQNLQJ WKH LQYHQWLRQ RI PLFUR
:HGQHVGD\ 'HFHPEHU  

7KLQNLQJ WKH LQYHQWLRQ RI PLFURFKLSV LQVWDOODWLRQV LQ RXU ILQJHUWLSV WR UH

PHPEHU SDVVZRUGV ZRXOG SUREDEO\ EH D ELJ KLW



! !

! !
 ! !

! !

, ZRQGHU ZKDW \RX GUHDP :KHQ \RXU

GUHDPLQJ
:HGQHVGD\ -DQXDU\  

, ZRQGHU ZKDW \RX GUHDP :KHQ \RXU GUHDPLQJ

.LFNVWDUWHU Ǿ 1HZ 0\VWLFV Ǿ ȆWRPEȇ

UHYLVLWHG
6XQGD\ )HEUXDU\  

KWWS  NFN VW K*R5HR

ȋ .LFNVWDUWHUFRP
C

ȋ )XQGVȌ
M

Y
ȋ 'UHDPVWHU
CM

MY
,ȃP OLVWHQLQJ WR Ȇ7HDUWHDUȇ E\ $XWHFKUH KWWS
CY
6XQGD\ )HEUXDU\  
CMY

K
,ȃP OLVWHQLQJ WR Ȇ7HDUWHDUȇ E\ $XWHFKUH  KWWS  ELW  O\ H5=02F SDQ
GRUD

6FHQHV )URP (J\SW 3URWHVW 6LJQV 7KH

1HZ 5HSXEOLF
6XQGD\ )HEUXDU\  

KWWS  ZZZWQUFRPVOLGHVKRZZRUOGHJ\SW−SURWHVW−VLJQV− ←!
PXEDUDN



! !

! !
 ! !

! !

57 #-DVRQB3ROORFN
6XQGD\ )HEUXDU\  

57 #-DVRQB3ROORFN &KHFN RXW WKH ELJJHVW SKRWR HYHU WDNHQ ,WȃV  %LO
OLRQ 3L[HOV KWWS  ELW  O\ GQIP

9LD .LFNVWDUWHU
0RQGD\ )HEUXDU\  

9LD .LFNVWDUWHUFRP Ǿ 1HZ 0\VWLFV Ǿ Ȇ7RPEȇ UHYLVLWHG KWWS  NFN ←!

VW K*R5HR

C
7KH UHDO 0DWW 'DPRQ LV PRVW OLNHO\ WZHHWLQJ
0RQGD\ )HEUXDU\  
M

7KH UHDO 0DWW 'DPRQ LV PRVW OLNHO\ WZHHWLQJ FRYHUWO\ XQGHU DQ DOLDV
CM

MY

CY
57 #$NL$QDVWDVLRX
CMY 6DWXUGD\ 0DUFK  
K

57 #$NL$QDVWDVLRX 7KH  HDUWKTXDNH LQ -DSDQ WRGD\ LV WKH WK ODUJHVW

E\ PDJQLWXGH LQ KLVWRU\ KWWS  WLQ\XUO  FRP]YTSZ

9LGHR
6XQGD\ 0DUFK  

7KLV LV IURP)$)1,552&.621 *HUPDQ\ '- VLQFH 'HF  

1LFH



! !

! !
 ! !

! !

9LGHR
6XQGD\ 0DUFK  

1LQMD %HDU 6SLQV 7UHH %UDQFK  6WLFN YLD FDUORV

NRQR DNL ZD QDQGH WRVKL\RUX NXPR QL WRUL

WKLV
6XQGD\ 0DUFK  

NRQR DNL ZD QDQGH

WRVKL\RUX NXPR QL WRUL
WKLV DXWXPQ
DVIRU ZK\ JURZ ROG
C
FORXG WR ELUG 0DVKR +DLNX
M

Y
+DKD LOOL] QDW[WUDYDJDQ]D EDDDKDD
ZRZZZZ /0$2
CM

MY
6XQGD\ 0DUFK  
CY

CMY

+DKD LOOL] QDW[WUDYDJDQ]D EDDDKDD ZRZZZZ /0$2



! !

! !
 ! !

! !

0DUFK  

6XQGD\ 0DUFK  

CM %HHU $Q\RQH" _ UHPDGH

MY
6XQGD\ 0DUFK  
CY

CMY

YLD MDFNDORSHNLGFRP #%3EUHZLQJ <XVHII" +DYH \RX KDG D FKDQFH WR

YLVLW WKH 0RQNV \HW"

.LFNVWDUWHU Ǿ Ȇ$GPLVVLRQVȇ Ǿ D VKRUW ILOP

IRU ZRUOG SHDFH
6XQGD\ 0DUFK  

KWWS  NFN VW  LKMN\Y



! !

! !
 ! !

! !

)81',1* 68&&(66)8/ <HV

7KH 1H[W 6WHS 7KH 3RVW

:KDW 3L VRXQGV OLNH

6XQGD\ 0DUFK  

:KDW 3L VRXQGV OLNH # <DKRR 9LGHR

0\ *UDSKLF IRU Ȇ'UHDPVWHUȇ $GMXVWPHQW

%XUHDX
0RQGD\ 0DUFK  

CM

MY

CY

CMY

0\ *UDSKLF IRU Ȇ'UHDPVWHUȇ

$GMXVWPHQW %XUHDX



! !

! !
 ! !

! !

CM

MY

CY

CMY

&RQWDJLRQ 0DWW 'DPRQ LQ 6)



! !

! !
 ! !

! !

ER]DLILOPV

7KH $GMXVWPHQW %XUHDX KDV D 0RYLH 3RVWHU FXULRXVO\ OLNH WKH JUDSK
LF , WKUHZ WRJHWKHU \HDUV DJR IRU DQ XQGHUJURXQG ,QGLH )LOP FRQFHSW
FDOOHGȇ'UHDPVWHUȇ

M
-DFNȃV WZWWU VWRULHV
0RQGD\ 0DUFK  
Y

CM
KWWS  MDFNV  WXPEOU  FRPSRVW
MY

MDFNV
CY

CMY )URP MDFN

K
'DWH 7XHVGD\ 0DUFK  
6XEMHFW WZWWU ZRUN
7R 1RDK *ODVV
WZWWU VWRULHV
0RQGD\
UHJLVWHULQJ E\ JLYLQJ PRELOH  DQG FRQILUPLQJ ZLWK 3,1
%DVLF WHVWV IRU WKDW H[LVWV DQG SDVVHV &RXOG \RX FKHFN WKH YLHZ
IRU
LW -DFN" 7KDQNV
UHJLVWUDWLRQ WKURXJK HPDLO LQYLWH ZLWK 3,1
Ȍ



! !

! !
 ! !

! !

:K\
0RQGD\ 0DUFK  

,V WKLV PHVVLQJ ZLWK PH"

5RRNLH 1RWH
0RQGD\ 0DUFK  

, MXVW VDZ WKDW #GDYHPFFOXUH WZHHWHG WKLV

RQ
0RQGD\ 0DUFK  

, MXVW VDZ WKDW #GDYHPFFOXUH WZHHWHG WKLV RQ \IURJ KWWS  \IURJ  ←!

M
FRPJ]V]NPM
Y

CM

MY :KDW 3L VRXQGV OLNH

CY
KWWS  W FRLR1/.
CMY
7XHVGD\ 0DUFK  
K

:KDW 3L VRXQGV OLNH KWWS  W FRLR1/.

57 #%UDG0F&DUW\ #F\EUJSV 6ZHHW :LOO

KDYH D ORRN
6DWXUGD\ 0DUFK  

57 #%UDG0F&DUW\ #F\EUJSV 6ZHHW :LOO KDYH D ORRN



! !

! !
 ! !

! !

(DUWK +RXU LV QRZ

6XQGD\ 0DUFK  

(DUWK +RXU LV QRZ 3HRSOH DURXQG WKH ZRUOG VKRZ WKHLU VXSSRUW E\ WXUQLQJ
RII WKHLU OLJKWV IRU RQH KRXU KWWS  HKFRP HDUWKKRXU

GUHDPDOL]HU
0RQGD\ 0DUFK  

,WȃV D ELW DQWL

7KXUVGD\ 0DUFK  

C ,WȃV D ELW DQWLVRFLDO WR VD\ P\ ȆVSDPȇ LV EHWWHU WKHQ \RXU VSDP /2/ EXW
M
WKHQ DJDLQ PD\EH VSDPPHUV DUH OLNH WKH JDQJV RI WKH LQWHUQHW
Y

CM
,QQRYDWRUV QHHG WR ERXQFH DURXQG
MY
7KXUVGD\ 0DUFK  
CY

CMY ,QQRYDWRUV QHHG WR ERXQFH DURXQG

K

57 #UREHUWZLOVRQ
0RQGD\ $SULO  

57 #UREHUWZLOVRQ 'RQȃW MRLQ GDQJHURXV FXOWV SUDFWLFH VDIH VHFWV

GUHDPELJ
7XHVGD\ $SULO  

GUHDPELJ



! !

! !
 ! !

! !

VXUJHULHV
7XHVGD\ $SULO  

CM VXUJHULHV WZLWWHU EDFJURXQG KHDGKRQHV E\ %UXQR 0DUWLQV

MY

CY

CMY
$SULO  
7XHVGD\ $SULO  
K



! !

! !
 ! !

! !

GHHS QLJKW
:HGQHVGD\ $SULO  

KHOOR  LZDNDPL\DVXPL OLYH DW KWWS  XVWUH  DPH29K

'UDZ 0\ 7KLQJ
6DWXUGD\ $SULO  

CM

MY

CY

CMY

F\EUJSV LV QRZ XVLQJ 'UDZ 0\ 7KLQJ RQ <DKRR

KWWS  \DKRR LW 'EDID/%'

9LGHR
6XQGD\ 0D\  

Ȇ-XELODWLRQ 'D\ȇ



! !

! !
 ! !

! !

KWWS  WZLWJRRFRPRJ
6XQGD\ 0D\  

KWWS  WZLWJRR  FRPRJ

VLUPLWFKHOO
7XHVGD\ 0D\  

CM

MY

CY

CMY

VLUPLWFKHOO 7RGD\ /DXUHQ VSRWWHG D %ODFN 3KRHEH LQ RXU EDFN\DUG ZKLFK

LV SRVVLEO\ WKH FXWHVW OLWWOH IDW ELUG ,ȃYH HYHU VHHQ , KDG WR SDLQW RQH

9LGHR
7KXUVGD\ -XQH  

KLSKRSDQGSROLWLFV



! !

! !
 ! !

! !

-XVW JRW WKLV YLGHR VKRZLQJ 1<3' EHDWLQJ GRZQ D ZRPDQ DW

3HWH 5RFN DQG 6PLI 1 :HVVXQȂV DOEXP UHOHDVH SDUW\ 7KLV
WRRN SODFH LQ %URRNO\Q :H VDGO\ KDYH VHHQ WKLV VFHQDULR EH
IRUH ZKHUH D SHDFHIXO JDWKHULQJ LV EURNHQ XS E\ SROLFH ZKR DV
*HQHUDO 6WHHOH SRLQWHG RXW DUH EHQW RQ FDXVLQJ FKDRV 6XFK
VFHQHV URXWLQHO\ WDNH SODFH IURP %URRNO\Q WR 2DNODQG
,ȃP ORRNLQJ DW 3HWH 5RFNȃV DND #FKRFER\ZXQGD WLPH OLQH RQ
WZLWWHU +HȃV H[SODLQLQJ WKDW KH FDPH RXW DQG VDZ KLV ER\ EHLQJ
URXJKHG XS RQ WKH JURXQG +H VDLG KH GLGQȃW JHW EHDW XS QRU GLG
KLV ZLIHEXW D ZRPDQ GLG JHW EHDWHQ XS +LV ZLIH ZDV SXVKHG
RYHU D JDUEDJH FDQ WU\LQJ WR FDOP GRZQ WKHLU GDXJKWHU &RSV
FODLP 3HWHȃV GDXJKWHU SXQFKHG D FRS LQ WKH IDFH
&RLQFLGHQWO\ WKLV RXWUDJHRXV HYHQW ZHQW GRZQ RQ WKH VDPH GD\
WKDW2VFDU *UDQWȂV PRWKHU VHWWOHG IRU D  PLOOLRQ GROODUV ZLWK
%$57 SROLFH IRU WKH PXUGHU RI KHU VRQ ZKR ZDV XQDUPHG DQG
C
UHVWUDLQHG ZKHQ VKRW SRLQW EODQN E\ SROLFH RIILFHU -RKDQQHV
M 0HKVHUOH RQ WKH )UXLWYDOH %DUW VWDWLRQ LQ 2DNODQG LQ -DQXDU\
Y RI  Ȍ 0HKVHUOH LV QRZ KRPH IUHH DIWHU VHUYLQJ  PRQWKV
CM
LQ MDLO
MY , EULQJ XS WKH *UDQW FDVH LQ UHODWLRQVKLS WR WKH 6PLI 1 :HVVXQ
CY
LQFLGHQW WR SRLQW RXW WKDW SROLFH IHHO HPEROGHQ 7KH\ )HHO WKH\
OLWHUDOO\ FDQ JHW DZD\ ZLWK PXUGHU ,I WKH\ FDQ VKRRW DQG XQ
CMY
DUPHG UHVWUDLQHG PDQ LQ IURQW RI KXQGUHGV DQG JHW DZD\ ZLWK
K LW EHDWLQJ GRZQ D ZRPDQ LQ YLGHR WKH\ VD\ LWV 3HWH 5RFNȃV
ZLIHEXW 3HWH VD\V LW ZDV DQRWKHU ZRPDQ LV QR ELJ GHDO
7KHUH DUH RWKHU YLGHRV IORDWLQJ DURXQG :HȃOO NHHS \RX SRVWHG
RQ DOO WKLV



! !

! !
 ! !

! !

WKVHQVH\R 6XFK D GRSH SLF 

6DWXUGD\ -XO\  

CM

MY
WKVHQVH\R 6XFK D GRSH SLF 
CY

CMY



! !

! !
 ! !

! !

-XO\  

6XQGD\ -XO\  

CM

MY

CY

CMY



! !

! !
 ! !

! !

$XJXVW  

6XQGD\ $XJXVW  

CM

MY

CY

CMY



! !

! !
 ! !

! !

MHVVLFDHDWRQ ȋȋȋ
6XQGD\ $XJXVW  

CM

MY
MHVVLFDHDWRQ ȋȋȋ
CY

'DYLG 1R«O $UFKLYH

CMY

7XHVGD\ 6HSWHPEHU  

K

KWWS  GDYLG−QRHOFRPDUFKLYH



! !

! !
 ! !

! !

YLD VPDOWDON
)ULGD\ 6HSWHPEHU  

C
YLD VPDOWDON
M

CM P\ FRGH EURNH ULJKW

MY 6DWXUGD\ 6HSWHPEHU  
CY

CMY
\HV LW GLG \RXU WDONLQJ \RXUVHOI WRR
K



! !

! !
 ! !

! !

CM

MY

CY

CMY

! !

! !
 ! !

! !

CM

MY

CY

CMY

! !

! !
 C

CM

MY

CY

CMY

K
 C

CM

MY

CY

CMY